Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

BETWEEN 
 SINGER MADELINE
HOLDINGS, INC. 
 AND 

MARTHA STEWART 
 DATED AS
OF JUNE 22, 2015 
 AGREEMENT, dated as of June 22, 2015 (the “Effective Date”), by and between Singer
Madeline Holdings, Inc. (the “Company”), and Martha Stewart (the “Founder”). 
 WHEREAS, the
Founder is a party to an employment agreement, dated April 1, 2009, as amended, with Martha Stewart Living Omnimedia, Inc., a Delaware corporation (“Martha Stewart Living”) (the “Prior Employment Agreement); and

 WHEREAS, pursuant to that Agreement and Plan of Merger by and among Martha Stewart Living, Madeline Merger Sub, Inc., Sequential
Brands Group, Inc., Singer Merger Sub, Inc. and the Company, dated as of June 22, 2015 (the “Merger Agreement”), Martha Stewart Living will become a wholly-owned subsidiary of the Company; 

WHEREAS, the Company recognizes that the Founder’s talents and abilities are unique and have been integral to the success of
Martha Stewart Living; 
 WHEREAS, the Company wishes to secure the ongoing services of the Founder pursuant to the terms and
conditions set forth herein, and therefore the Founder and the Company intend hereby to enter into a new amended and restated employment agreement as set forth herein; 

NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth below, the parties hereby agree as follows: 

1. Employment. From and after the Closing Date (as defined in the Merger Agreement) (the “Closing Date”), the
Company hereby agrees to employ the Founder as Founder and Chief Creative Officer of the Company, and the Founder hereby accepts such employment, on the terms and conditions set forth below. In addition, effective as of the Closing Date, Employee
shall receive an interim appointment to serve as a member of the Company’s board of directors (the “Board”) and shall continue to be nominated to serve as a member of the Board during (i) the Employment Period (and, as
applicable, the Consulting Period), and (ii) during any period in which the Founder (whether through affiliates or otherwise) beneficially own at least (a) six percent (6%) of the total outstanding equity in the Company, or
(b) two-thirds (2/3) of the total shares of the Company which are beneficially owned by the Founder (whether through affiliates or otherwise) on the Closing Date. This Agreement is contingent upon the occurrence of the Closing (as defined
in the Merger Agreement) and shall be null and void if the Closing does not occur. 
 2. Term. The Founder’s employment
by the Company hereunder shall begin on the Closing Date and shall end on December 31, 2020 (the “Initial Employment Period”), but subject to earlier termination as provided herein; provided that the Initial Employment Period

 
shall be automatically renewed for five additional calendar years ending December 31, 2025 (subject to earlier termination as provided herein) if either the aggregate Gross Licensing
Revenues (as defined below) for calendar years 2018 through 2020 exceed $195 million or the Gross Licensing Revenues for calendar year 2020 equal or exceed $65 million (the “Extended Employment Period”). For purposes hereof, the
“Employment Period” shall mean the Initial Employment Period, and upon the occurrence of an Extended Employment Period, both the Initial Employment Period and the Extended Employment Period. If the Employment Period is not extended
past the Initial Employment Period pursuant to the first sentence of this Section 2, the Founder shall become a part-time consultant/brand ambassador for the Company for five (5) calendar years following the end of the Initial Employment
Period (the “Consulting Period”) on terms reasonably acceptable to the Founder and the Company, and will receive only the compensation for such service specified in Section 8(d) (which compensation, for the avoidance of doubt,
shall be due and payable to the Founder regardless of whether an agreement regarding the Founder’s part-time consulting/brand ambassadorship is entered into on terms reasonably acceptable to the Founder and the Company). 

3. Position and Duties. During the Employment Period, the Founder shall serve as Founder and Chief Creative Officer of the
Company. The Founder will have the power, responsibility, duties and authority customary for a Chief Creative Officer of corporations of the size, type and nature of the Company and which are substantially consistent with her creative duties and
authority with respect to her current services with Martha Stewart Living (including those duties and authority with respect to the Company’s business not involving Martha Stewart Living as are reasonable, to be mutually agreed upon between the
Founder and the CEO of the Company (the “CEO”) from time to time). 
 The Founder shall report directly to the CEO. Unless
otherwise authorized by the CEO, during the Employment Period, the Founder shall devote substantially all of her working time, attention and energies during normal business hours (other than absences due to illness or vacation) to the performance of
her duties for the Company and Martha Stewart Living. Without limitation, during the Employment Period, the Founder will make herself reasonably available, subject to her prior personal and professional commitments, for all appearances, events and
related activities specified or agreed to under the Company’s and Martha Stewart Living’s licensing agreements in effect as of the Closing Date (but, for the avoidance, any extensions or modifications of such licensing agreements which
provide for additional appearances, events or similar activities shall require the consent of the Founder). During the Employment Period, subject at all times to her prior personal and professional commitments, the Founder shall be reasonably
available for promotional activities and shall also provide endorsement services to promote the Company’s products and services from time-to-time during the Employment Period consistent with her past practices with Martha Stewart Living
(collectively, “Promotional Services”). 
 Notwithstanding the above, the Founder shall be permitted, to the extent such
activities do not violate, or substantially interfere with her performance of her duties and responsibilities under this Agreement during the Employment Period, or any other agreement to which she and the Company are parties, in all cases except for
(iii), as determined by the CEO and the Board, to (i) engage in motion picture, television, public speaking and publishing activities, (ii) appear from time to time in commercials and/or advertisements that do not present a conflict with
the 

  
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Company’s or Martha Stewart Living’s interests with respect to its products or significant business relationships, in all cases subject to the approval of the Board, (iii) manage
her personal, financial and legal affairs (including writing her autobiography), (iv) serve on civic or charitable boards or committees (it being expressly understood and agreed that the Founder’s continuing to serve on any such board
and/or committees on which she is serving, or with which she is otherwise associated, as of the Closing Date, shall be deemed not to interfere with her performance of her duties and responsibilities under this Agreement), (v) serve on boards of
other companies and (vi) make personal appearances and lectures, and the Founder shall be entitled to receive and retain all remuneration received by her from the items listed in clauses (i) through (vi) of this paragraph (including,
without limitation, appearance and speaking fees, book advances, royalties, residuals and other fees and compensation (including guild and union payments) payable therewith) outside the performance of her duties hereunder. In addition, the Founder
is entitled to engage in motion picture and television activities on behalf of third parties and to receive and retain all remuneration therefrom, so long as such activities do not substantially interfere with the performance of her duties and
responsibilities hereunder. The Founder and the Company agree that, to the extent that any such third party production would require the Founder to provide recurring services, she may provide such services so long as the Company receives one-third
of any talent fee that would be payable in respect of her services as a performer. The Founder will be entitled to retain the remainder of such talent fees. For the avoidance of doubt, where the Founder’s services do not require recurring
services that could interfere with her duties and responsibilities hereunder, she shall continue to have the right to receive and retain all of the fees payable. 

4. Place of Performance. During the Employment Period, the locations of employment of the Founder shall be in New York City, New
York (which office location shall remain the headquarters of Martha Stewart Living) and Bedford, New York, in the Founder’s reasonable discretion, and the Founder shall not be required to relocate her employment to any other location. During
the Employment Period (and during any period the Founder is entitled to the Existing Expense Reimbursements pursuant to Section 8), the Company shall not terminate, other than for “cause” (as such term is defined in the Company’s
severance plan applicable to all of its employees), any of the employees (or replacements of such employees) listed on Exhibit A attached hereto and such individuals shall continue to receive no less than their current compensation and level of
benefits as provided for on the date hereof; provided that the Company shall not be required to pay compensation or benefits to any such person in excess of such individual’s compensation and benefits on the date hereof. In addition, the
Company shall provide the Founder with the same offices in New York, New York that were provided by Martha Stewart Living through at least the expiration of the current lease on January 31, 2018. 

5. Compensation and Related Matters. 

(a) Base Compensation. In consideration of her performance of her duties hereunder, during the Employment Period the Company shall pay
the Founder base compensation at the rate of Five Hundred Thousand Dollars ($500,000) per year (the “Base Compensation”). The Base Compensation shall be paid in approximately equal installments in accordance with the Company’s
customary payroll practices and subject to all applicable income and employment tax withholdings. The Base Compensation may be increased by the Board in its sole discretion. If the Base Compensation is increased by the Board, such increased Base
Compensation shall then constitute the Base Compensation for all purposes under this Agreement. 

  
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 (b) Annual Bonus. For each year during the Employment Period, to the extent that the
Company pays bonuses to other senior executives in addition to contractually-committed amounts, the CEO and the Board will consider an appropriate discretionary bonus for the Founder. 

(c) Guaranteed Payment. In addition, for each calendar year during the Employment Period commencing with 2015, the Founder shall
receive a guaranteed annual payment of One Million Three Hundred Thousand Dollars ($1,300,000) (the “Guaranteed Payment”), pro rated for partial years of employment during the Employment Period. The Guaranteed Payment shall be paid at the
same time as Base Compensation is paid and shall be subject to all applicable income and employment tax withholding. 
 (d) Incentive
Payments. For each calendar year during the Employment Period commencing on or after January 1, 2016, the Company shall pay the Founder an amount equal to ten percent (10%) of Gross Licensing Revenues earned by the Company during such
calendar year in excess of Forty Six Million Dollars ($46,000,000). Any such amount shall be paid no later than March 15 of the year following the calendar year to which it relates. For purposes hereof, “Gross Licensing
Revenues” means total revenues (including, without limitation, licensing royalties (and, for the avoidance of doubt minimum royalties, and other measurable consideration which can be reduced to monetary value)) earned and received by the
Company from the licensing of the Martha Stewart brand (including, all associated and related marks, but excluding publishing and media). 

(e) Vacation. During the Employment Period, the Founder shall be entitled to six weeks of vacation per year. Vacation not taken during
the applicable fiscal year (but not in excess of three weeks) shall be carried over to the next following fiscal year. 
 (f) Welfare,
Pension and Incentive Benefit Plans. During the Employment Period, the Founder (and her eligible spouse and dependents) shall be entitled to participate in all welfare benefit plans and programs maintained by the Company from time to time for
the benefit of its senior executives, including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment, travel accident and life insurance plans, programs and arrangements. In addition, during the
Employment Period, the Founder shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives, other than any
equity-based incentive plans, severance plans, retention plans and any annual cash incentive plan. 
 (g) Equity Awards. The Founder
shall participate in any equity incentive program approved by the Compensation Committee of the Board on the same basis as senior executives of the Company. 

(h) Expenses. The Company shall directly pay or reimburse the Founder for customary and reasonable expenses incurred in connection with
her performance of duties for the 

  
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Company in accordance with the Company’s expense reimbursement policy for its senior executives and for other reasonable and customary expenses (not to exceed $100,000 per year) as are
approved in advance by the CEO. In addition, the Company shall directly pay or reimburse the Founder for all reasonable expenses she incurs in connection with any service days spent providing Promotional Services (including first class travel, hotel
accommodations, and hair and make-up services); for the avoidance of doubt, such payments shall not be subject to or taken into account with respect to the $100,000 cap referred to in the immediately-preceding sentence. In addition, the Company will
continue to pay for and reimburse the Founder for her expenses in accordance with the Prior Employment Agreement and the expense policy in place for Martha Stewart Living on the Effective Date as specified in Exhibit B, provided that in no event
shall the aggregate budget for years after 2015 be increased or decreased except by mutual agreement of the CEO and the Founder (the “Existing Expense Reimbursements”). 

(i) Legacy Payments. Beginning with calendar years commencing on or after January 1, 2026, the Company shall pay the Founder three
and one-half percent (3.5%) of Gross Licensing Revenues for each such calendar year for the remainder of the Founder’s life (with a minimum of five (5) years of payments, to be made to the Founder’s estate for the period from
January 1, 2026 (or, if later, the Founder’s death) through December 31, 2030 if the Founder dies before December 31, 2030) (the “Legacy Payments” and, the period with respect to which the Legacy Payments are
made, the “Legacy Payment Period”). The Legacy Payments shall be paid on a calendar quarter basis and shall be accompanied by a detailed statement setting forth each licensee, the gross sales by each such licensee and the revenues
received from each such licensee. The Legacy Payments described in this Section 5(i) shall be made regardless of the time or reason for the Founder’s termination of employment. 

(j) Audit. The Founder’s representatives may, during regular business hours and upon reasonable advance notice to the Company,
during the period for which the Founder (or her estate) is entitled to any payments hereunder and for one year thereafter, audit the Company’s books of account and records and examine and copy all documents and materials relating to the this
Agreement and activities hereunder, including the books of account and records, invoices, credits and shipping documents and all information related to the determination of Gross Licensing Revenues. If any such audit finds that any of the
Company’s payments hereunder were less than the amount that should have been paid and the Company agrees with such finding, the payment required to be made to eliminate the discrepancy, plus interest at the rate of five percent (5%) per
annum, shall be made promptly, and, if the discrepancy is ten percent (10%) or more of the amount actually paid for the subject period, the Company promptly shall reimburse the Founder for the actual cost and expenses of the audit. 

6. Termination. The Founder’s employment hereunder may be terminated during the Employment Period under the following
circumstances: 
 (a) Death. The Founder’s employment hereunder shall terminate upon her death. 

(b) Disability. The Company shall have the right to terminate the Founder’s employment as a result of the Founder’s
Disability (as defined below) as determined by a physician selected by the Founder, and reasonably acceptable to the Company. “Disability” 

  
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shall mean (i) the Founder’s inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result
in death or can be expected to last for a continuous period of not less than twelve (12) months; (ii) the Founder is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be
expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering the Founder; or (iii) the
Founder is determined to be totally disabled by the Social Security Administration. 
 (c) Cause. The Company shall have the right to
terminate the Founder’s employment for “Cause.” For purposes of this Agreement, the Company shall have “Cause” to terminate the Founder’s employment only upon the Founder’s: 

(i) willful gross misconduct or conviction of a felony after the Effective Date that, in either case, results in material and demonstrable
damage to the business or reputation of the Company; or 
 (ii) willful and continued failure to perform her duties hereunder (other than
such failure resulting from legal necessity or after the issuance of a Notice of Termination by the Founder for Good Reason) within ten business days after the Company delivers to her a written demand for performance that specifically identifies the
actions to be performed. 
 For purposes of this Section 6(c), no act or failure to act by the Founder shall be considered
“willful” if such act is done by the Founder in the good faith belief that such act is or was to be beneficial to the Company or one or more of its businesses, or such failure to act is due to the Founder’s good faith belief that such
action would be materially harmful to the Company or one of its businesses. Cause shall not exist unless and until the Company has delivered to the Founder a copy of a resolution duly adopted by a majority of the Board (excluding the Founder for
purposes of determining such majority) at a meeting of the Board called and held for such purpose after reasonable (but in no event less than thirty days’) notice to the Founder and an opportunity for the Founder, together with her counsel, to
be heard before the Board, finding that in the good faith opinion of the Board that “Cause” exists, and specifying the particulars thereof in detail. This Section 6(c) shall not prevent the Founder from challenging in any court of
competent jurisdiction the Board’s determination that Cause exists or that the Founder has failed to cure any act (or failure to act) that purportedly formed the basis for the Board’s determination. 

(d) Good Reason. The Founder may terminate her employment for “Good Reason” after giving the Company detailed written
notice thereof, if the Company shall have failed to cure the event or circumstance constituting “Good Reason” within ten business days after receiving such notice. Good Reason shall mean the occurrence of any of the following without the
written consent of the Founder: 
 (i) the assignment to the Founder of duties materially inconsistent with this Agreement or a material
adverse change in her titles or responsibilities (and, for the avoidance of doubt, Employee no longer serving as a member of the Board shall not constitute Good Reason unless the Company has not nominated the Founder for the Board); 

  
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 (ii) the Company’s failure to nominate the Founder for the Board in accordance with the
provisions of Section 1; 
 (iii) any failure by the Company to comply with Section 5 hereof in any material way; 

(iv) the requirement by the Company that the Founder relocate her primary offices outside of New York, New York; 

(v) the failure of the Company to comply with and satisfy Section 12(a) of this Agreement; or 

(vi) any material breach of this Agreement by the Company. 

The Founder’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act
constituting Good Reason hereunder. 
 (e) Without Cause. The Company shall have the right to terminate the Founder’s employment
hereunder without Cause by providing the Founder with a Notice of Termination. 
 (f) Without Good Reason. The Founder shall have the
right to terminate her employment hereunder without Good Reason by providing the Company with a Notice of Termination. 
 7.
Termination Procedure. 
 (a) Notice of Termination. Any termination of the Founder’s employment by the Company or by
the Founder during the Employment Period (other than pursuant to Section 6(a)) shall be communicated by written Notice of Termination to the other party. For purposes of this Agreement, a “Notice of Termination” shall mean a
notice indicating the specific termination provision in this Agreement relied upon and setting forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Founder’s employment under that provision.

 (b) Date of Termination. “Date of Termination” shall mean (i) if the Founder’s employment is terminated
by her death, the date of her death, (ii) if the Founder’s employment is terminated pursuant to Section 6(b), thirty (30) days after the date of receipt of the Notice of Termination (provided that the Founder does not return to
the substantial performance of her duties on a full-time basis during such thirty (30) day period), and (iii) if the Founder’s employment is terminated for any other reason, the date on which a Notice of Termination is given or any
later date (within thirty (30) days after the giving of such notice) set forth in such Notice of Termination. 
 8. Compensation
upon Termination or During Disability. In the event the Founder is disabled or her employment terminates during the Employment Period, the Company shall provide the Founder with the payments and benefits set forth below. The Founder
acknowledges and agrees that the payments set forth in this Section 8 constitute liquidated 

  
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damages for termination of her employment during the Employment Period. For the avoidance of doubt, the termination of the Founder’s employment for any reason after the Employment Period
ends shall not entitle the Founder to any payments pursuant to this Section 8 (other than the Accrued Obligations to the extent provided below). 

(a) Termination by Company without Cause or by the Founder for Good Reason. If the Founder’s employment is terminated by the
Company without Cause (other than Disability) or by the Founder for Good Reason, subject in all respects to the application of Section 21(b) below, and (except with respect to the payments to be provided pursuant to section 8(a)(i)) subject to
the Founder executing (and not revoking) a release of claims in the form attached hereto as Exhibit C (the “Release”) within twenty-one (21) days following the Date of Termination: 

(i) the Company shall pay to the Founder (A) a lump sum payment equal to the sum of accrued Base Compensation and accrued vacation pay
through the Date of Termination, (B) the Guaranteed Payment, payable for each year remaining in the then-current Employment Period (as if no Date of Termination had occurred) at the time(s) payable pursuant to Section 5(c), (C) the
Legacy Payments, payable at the time(s) payable during the Legacy Payment Period pursuant to Section 5(i) and (D) accrued expenses incurred before the Date of Termination and payable pursuant to Section 5(h); 

(ii) in addition to the amounts set forth in clause (i) above, if the Date of Termination occurs during the Initial Employment Period,
the Company shall continue to pay the Base Compensation and the Existing Expense Reimbursements and make the payments specified in Section 5(d) through the end of the Initial Employment Period (in each such case as if no Date of Termination had
occurred during such period), and, unless the Founder becomes entitled to continue to receive the payments set forth in clause (iii)(B) below, the Founder also will receive the payments pursuant to Section 8(d) below, in accordance with
and during the five-year period set forth therein; 
 (iii) in addition to the amounts set forth in clause (i) above, if (A) the
Date of Termination occurs during the Extended Employment Period, or (B) the Date of Termination occurs during the Initial Employment Period but the Employment Period would have been extended for another five years pursuant to Section 2
(based on achievement of the criteria specified therein) had the Founder otherwise remained employed through the end of the Initial Employment Period, the Company shall continue to pay the Base Compensation, the Guaranteed Payment, the Existing
Expense Reimbursements and the payments specified in Section 5(d), in each case through the end of the Extended Employment Period as if no Date of Termination had occurred during such period (without duplication of any amount payable pursuant
to clause (ii) immediately above); 
 (iv) the Company shall continue to provide the Founder and her eligible spouse and dependents
for a period equal to the greater of (A) the remaining term of the Employment Period (as if no Date of Termination had occurred), or (B) three years following the Date of Termination, the medical, hospitalization, dental and life insurance
programs provided for in Section 5(f), as if she had remained employed; provided, that if the Founder, her spouse or her eligible dependents cannot continue to participate in the Company programs providing such

  
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benefits, the Company shall arrange to provide the Founder and her spouse and dependents with the economic equivalent of the benefits they otherwise would have been entitled to receive under such
plans and programs; and provided, further, that such benefits shall terminate on the date or dates the Founder becomes eligible to receive equivalent coverage and benefits under the plans and programs of a subsequent employer at an equivalent cost
to the Founder (such coverage and benefits to be determined on a coverage-by-coverage, or benefit-by-benefit, basis); 
 (v) until the
third anniversary of the Date of Termination, the Company shall continue to provide the Founder with an office and an assistant (of the Founder’s choice) in New York, New York and Bedford, NY; and 

(vi) the Founder shall be entitled to any other rights, compensation and/or benefits as may be due to the Founder in accordance with the
terms and provisions of any agreements, plans or programs of the Company (other than any severance-based plan or program). 
 The payments
and benefits provided for in clause (i) above are hereinafter referred to as the “Accrued Obligations.” To the extent any of the benefits provided for in clauses (ii) – (vi) above are taxable to the Founder, and
except as permitted by Section 409A (as defined in Section 21(a) below), any right to reimbursement or in-kind benefits will not be subject to liquidation or exchange for another benefit, the amount of expenses eligible for reimbursement,
or in-kind benefits, provided during any taxable year it will not affect the expenses eligible for reimbursement in a later taxable year, and any payments for reimbursements will be paid on or before the last day of the taxable year following the
taxable year in which the expense was incurred. 
 (b) Cause or by Founder without Good Reason. If the Founder’s employment is
terminated by the Company for Cause or by the Founder other than for Good Reason, then the Company shall provide the Founder with her Accrued Obligations. The Company shall have no further obligation to the Founder hereunder (other than, for the
avoidance of doubt, the Legacy Payments). 
 (c) Death or Disability. Upon the Founder’s death or Disability (including, death
or Disability which occurs prior to Closing) (i) on or before the end of the Initial Employment Period, the Company will continue to pay the Base Compensation, the Guaranteed Payment, and the payments described in Section 5(d) through
December 31, 2020 and, for calendar years 2021 through 2025, the Company will pay the Founder (or, as applicable, her estate) four percent (4%) of Gross Licensing Revenues for each such year; or (ii) after the fifth year following
Closing, the Company will pay the Founder (or, as applicable, her estate) four percent (4%) of Gross Licensing Revenues for each year commencing with the year in which such death or Disability occurs through December 31, 2025. For the
avoidance of doubt, the Legacy Payments shall also be paid at the time(s) payable during the Legacy Payment Period pursuant to Section 5(i). 

(d) Non-Extension of Employment Period. If the Employment Period is not extended pursuant to the last sentence of Section 2, the
Founder shall be entitled to (i) the Accrued Obligations and (ii) the following amounts for each of the five (5) calendar years in the 

  
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Consulting Period: (A) if both Gross Licensing Revenues are less than $51 million for calendar year 2020 and aggregate Gross Licensing Revenues for calendar years 2018 through 2020 are less
than $153 million, $1,500,000 per year; (B) if Gross Licensing Revenues are between $51 million and $55,999,999 for calendar year 2020 and aggregate Gross Licensing Revenues for calendar years 2018 through 2020 were equal to or greater than
$153 million (but were less than $168 million), $3 million per year; or (C) if Gross Licensing Revenues equal or exceed $56 million for calendar 2020 (but are less than $61 million) or Gross Licensing Revenues for calendar years 2018 through
2020 equaled or exceeded $168 million (but were less than $183 million), $4.5 million per year. Such amounts shall be paid quarterly and in no event no later than March 15 of the calendar year following the calendar year to which they relate.
For the avoidance of doubt, the Legacy Payments shall also be paid at the time(s) payable during the Legacy Payment Period pursuant to Section 5(i). 

(e) Mitigation. The Founder shall not be required to mitigate damages with respect to the termination of her employment under this
Agreement by seeking other employment or otherwise and there shall be no offset against amounts due the Founder under this Agreement on account of subsequent employment except as specifically provided in this Section 8. Additionally, amounts
owed to the Founder under this Agreement shall not be offset by any claims the Company may have against the Founder, and the Company’s obligation to make the payments provided for in this Agreement, and otherwise to perform its obligations
hereunder, shall not be affected by any other circumstances, including, without limitation, any counterclaim, recoupment, defense or other right which the Company may have against the Founder or others. 

9. Confidential Information; Noncompetition; Nonsolicitation; Nondisparagement. 

(a) Confidential Information. Except as may be required or appropriate in connection with her carrying out her duties under this
Agreement, the Founder shall not, without the prior written consent of the Company or as may otherwise be required by law or any legal process, or as is necessary in connection with any adversarial proceeding against the Company (in which case the
Founder shall cooperate with the Company in obtaining a protective order at the Company’s expense against disclosure by a court of competent jurisdiction), communicate, to anyone other than the Company and those designated by the Company or on
behalf of the Company in the furtherance of its business or to perform her duties hereunder, any trade secrets, confidential information, knowledge or data relating to the Company, its affiliates or any businesses or investments of the Company or
its affiliates, obtained by the Founder during the Founder’s employment by the Company and MSLO LLC that is not generally available public knowledge (other than by acts by the Founder in violation of this Agreement.) 

(b) Noncompetition. During the Employment Period and until the 12-month anniversary of the Founder’s Date of Termination if the
Founder’s employment is terminated by the Company for Cause or the Founder terminates employment without Good Reason, the Founder shall not engage in or become associated with any Competitive Activity. For purposes of this Section 9(b), a
“Competitive Activity” shall mean any business or other endeavor that engages in any country in which the Company has significant business operations to a significant degree in a business that directly competes with all or any
substantial part of any of the Company’s businesses of (i) producing television and other video programs, (ii) designing, 

  
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developing, licensing, promoting and selling merchandise through catalogs, direct marketing, Internet commerce and retail stores of the product categories in which the Company so participates
using the Founder’s name, likeness, image, or voice to promote or market any such product or service, (iii) the creation, publication or distribution of regular or special issues of magazines, and (iv) any other business in which the
Company or Martha Stewart Living is engaged during the last twelve (12) months of the Employment Period (the activities described in clauses (i) through (iv), in each case determined as of the date of the action alleged to be Competitive
Activity, (the “Businesses”); provided, that, a Competitive Activity shall not include (i) any speaking engagement to the extent such speaking engagement does not promote or endorse a product or service which is competitive
with any product or service of the Company, (ii) the writing of any book or article relating to subjects other than the Businesses (e.g., nonfiction relating to the Founder’s career or general business advice) or (iii) the television,
video or music business so long as such activity does not relate to the Businesses. The Founder shall be considered to have become “associated with a Competitive Activity” if she becomes involved as an owner, employee, officer,
director, independent contractor, agent, partner, advisor, or in any other capacity calling for the rendition of the Founder’s personal services, with any individual, partnership, corporation or other organization that is engaged in a
Competitive Activity and her involvement relates to a significant extent to the Competitive Activity of such entity; provided, however, that the Founder shall not be prohibited from (a) owning less than one percent (1%) of any publicly
traded corporation, whether or not such corporation is in competition with the Company, or investing in any mutual fund or other investment fund over which the Founder has no investment discretion or (b) serving as a director of a corporation
or other entity the primary business of which is not a Competitive Activity. If, at any time, the provisions of this Section 9(b) shall be determined to be invalid or unenforceable, by reason of being vague or unreasonable as to area, duration
or scope of activity, this Section 9(b) shall be considered divisible and shall become and be immediately amended to only such area, duration and scope of activity as shall be determined to be reasonable and enforceable by the court or other
body having jurisdiction over the matter; and the Founder agrees that this Section 9(b) as so amended shall be valid and binding as though any invalid or unenforceable provision had not been included herein. 

(c) Nonsolicitation. During the Employment Period, and for 12 months after the Founder’s Date of Termination if the Founder’s
employment is terminated by the Company for Cause or the Founder terminates employment without Good Reason, the Founder will not, directly or indirectly, (1) solicit for employment by other than the Company any person (other than any personal
secretary or assistant hired to work directly for the Founder) employed by the Company or its affiliated companies as of the Date of Termination, (2) solicit for employment by other than the Company any person known by the Founder (after
reasonable inquiry) to be employed at the time by the Company or its affiliated companies as of the date of the solicitation or (3) solicit any customer or other person with a business relationship with the Company or any of its affiliated
companies to terminate, curtail or otherwise limit such business relationship. 
 (d) Non-disparagement. During the Employment Period
and for two (2) years thereafter, (i) neither the Founder, nor anyone acting on behalf of the Founder, shall make or publish any disparaging or derogatory statement (whether written or oral) regarding the Company or any of its affiliated
companies or businesses that are known to the Founder to be so affiliated, the individuals who serve as members of the Board during such period or those 

  
 11 

 
individuals who serve in positions of executive vice president or more senior positions at the Company during the Employment Period and, during the two-year period thereafter, only such
individuals whose titles are publicly available, based on the Company’s website, in each such case in any public communication, or in any non-public communication with any member of the media or with any other person which may be reasonably
expected to be publicly disseminated to the press or the media, and (ii) neither the Company nor any of its affiliated companies or businesses or their affiliates, individuals who serve as members of the Board during such period, or those
individuals who serve in positions of executive vice president or more senior positions at the Company, nor anyone authorized by the Company to speak on behalf of the Company, shall make or publish any disparaging or derogatory statement (whether
written or oral) regarding the Founder in any public communication, or in any non-public communication with any member of the media or with any other person which may be reasonably expected to be publicly disseminated to the press or the media. 

(e) Injunctive Relief. In the event of a breach or threatened breach of this Section 9, the Founder agrees that the Company shall
be entitled to injunctive relief in a court of appropriate jurisdiction to remedy any such breach or threatened breach, the Founder acknowledging that damages would be inadequate and insufficient. 

10. Indemnification. 

(a) General. The Company agrees that if the Founder is made a party or is threatened to be made a party to any audit, action, suit or
proceeding, whether civil, criminal, regulatory, administrative or investigative (a “Proceeding”), by reason of the fact that the Founder is or was a trustee, director, officer or employee of the Company, MSLO LLC, or any
predecessor to MSLO LLC (including any sole proprietorship owned by the Founder) or any of their affiliates or is or was serving at the request of the Company, MSLO LLC, any predecessor to MSLO LLC (including any proprietorship owned by the
Founder), or any of their affiliates as a trustee, director, officer, member, employee or agent of another corporation or a partnership, joint venture, limited liability company, trust or other enterprise, including, without limitation, service with
respect to employee benefit plans, whether or not the basis of such Proceeding is alleged action in an official capacity as a trustee, director, officer, member, employee or agent while serving as a trustee, director, officer, member, employee or
agent, the Founder shall be indemnified and held harmless by the Company to the fullest extent authorized by Delaware law, as the same exists or may hereafter be amended, against all Expenses incurred or suffered by the Founder in connection
therewith. Such indemnification and this Section 10(a) shall continue as to the Founder even if the Founder has ceased to be an officer, director, trustee or agent, or is no longer employed by the Company and shall inure to the benefit of her
heirs (including trusts and trustees), executors and administrators or upon any termination of this Agreement. In addition, the Company shall indemnify and hold harmless the Founder in connection with any claim for indemnification under clause (bb)
of paragraph 11(a) of the Production Agreement (as defined in the Prior Employment Agreement). 
 (b) Expenses. As used in this
Agreement, the term “Expenses” shall include, without limitation, damages (whether punitive or otherwise), losses, judgments, liabilities, fines, penalties, excise and other penalty taxes, compensation and benefits payable to
employees, consultants and independent contractors, settlements, and costs (including out-of-pocket 

  
 12 

 
expenses), attorneys’ fees, accountants’ fees, and disbursements and costs of attachment or similar bonds, investigations, and any expenses of establishing a defense in any Proceeding
and any right to indemnification under this Agreement. 
 (c) Enforcement. If a claim or request under this Section 10 is not
paid by the Company or on its behalf, within thirty (30) days after a written claim or request has been received by the Company, the Founder may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim or
request and if successful in whole or in part, the Founder shall be entitled to be paid also the expenses of prosecuting such suit. All obligations for indemnification hereunder shall be subject to, and paid in accordance with, applicable Delaware
law. 
 (d) Partial Indemnification. If the Founder is entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of any Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify the Founder for the portion of such Expenses to which the Founder is entitled. 

(e) Advance of Expenses. Expenses incurred by the Founder in connection with any Proceeding shall be paid by the Company in advance
upon request of the Founder that the Company pay such Expenses, but only in the event that the Founder shall have delivered in writing to the Company (i) an undertaking to reimburse the Company for Expenses with respect to which the Founder is
not entitled to indemnification and (ii) a statement of her good faith belief that the standard of conduct necessary for indemnification by the Company has been met. 

(f) Notice of Claim. The Founder shall give to the Company notice of any claim made against her for which indemnification will or could
be sought under this Agreement. In addition, the Founder shall give the Company such information and cooperation as it may reasonably require and as shall be within the Founder’s power and at such times and places as are convenient for the
Founder. 
 (g) Defense of Claim. With respect to any Proceeding as to which the Founder notifies the Company of the commencement
thereof: 
 (i) The Company will be entitled to participate therein at its own expense; 

(ii) Except as otherwise provided below, to the extent that it may wish, the Company will be entitled to assume the defense thereof, with
counsel reasonably satisfactory to the Founder, which in the Company’s sole discretion may be regular counsel to the Company and may be counsel to other officers and directors of the Company or any subsidiary. The Founder also shall have the
right to employ her own counsel in such action, suit or proceeding if she reasonably concludes that failure to do so would involve a conflict of interest between the Company and the Founder, and under such circumstances the fees and expenses of such
counsel shall be at the expense of the Company. 
 (iii) The Company shall not be liable to indemnify the Founder under this Agreement for
any amounts paid in settlement of any action or claim effected without its written consent. The Company shall not settle any action or claim in any manner which would 

  
 13 

 
impose any penalty that would not be paid directly or indirectly by the Company or limitation on the Founder without the Founder’s written consent. Neither the Company nor the Founder will
unreasonably withhold or delay their consent to any proposed settlement. 
 (h) Non-Exclusivity. The right to indemnification and the
payment of expenses incurred in defending a Proceeding in advance of its final disposition conferred in this Section 10 shall not be exclusive of any other right which the Founder may have or hereafter may acquire under any statute or
certificate of incorporation or by-laws of the Company or any subsidiary, agreement, vote of shareholders or disinterested directors or trustees or otherwise. 

(i) Timing of Reimbursements or Expenses. To the extent required under Section 409A (as defined in Section 21(a) below), any
reimbursements or expenses provided under this Section 10 shall be subject to the limitations on payment and reimbursement of taxable expenses set forth in Section 8(a). 

11. Legal Fees and Expenses. If any contest or dispute shall arise between the Company and the Founder regarding any provision
of this Agreement, the Company shall reimburse the Founder for all legal fees and expenses reasonably incurred by the Founder in connection with such contest or dispute, but only if the Founder prevails to a substantial extent with respect to the
Founder’s claims brought and pursued in connection with such contest or dispute. Such reimbursement shall be made as soon as practicable following the resolution of such contest or dispute (whether or not appealed) to the extent the Company
receives written evidence of such fees and expenses. In addition to the foregoing, the Company shall reimburse the Founder for all legal and other advisor fees incurred by her in connection with the negotiation and execution of this Agreement and
the agreements relating to the Merger Agreement, up to a maximum reimbursement of Four Million Dollars ($4,000,000). To the extent required under Section 409A (as defined in Section 21(a) below), any reimbursements or expenses provided
under this Section 11 shall be subject to the limitations on payment and reimbursement of taxable expenses set forth in Section 8(a). 

12. Successors; Binding Agreement. 

(a) Company’s Successors. No rights or obligations of the Company under this Agreement may be assigned or transferred, except that
the Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in
the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall include any successor to its business and/or assets (by
merger, purchase or otherwise) which executes and delivers the agreement provided for in this Section 12 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law. 

(b) Founder’s Successors. No rights or obligations of the Founder under this Agreement may be assigned or transferred by the
Founder other than her rights to payments or benefits hereunder, which may be transferred only by will or the laws of descent and distribution. Upon the Founder’s death, this Agreement and all rights of the Founder hereunder shall inure to the
benefit of and be enforceable by the Founder’s beneficiary or beneficiaries, personal or legal 

  
 14 

 
representatives, or estate, to the extent any such person succeeds to the Founder’s interests under this Agreement. If the Founder should die following her Date of Termination while any
amounts would still be payable to her hereunder if she had continued to live, all such amounts unless otherwise provided herein shall be paid in accordance with the terms of this Agreement to such person or persons so appointed in writing by the
Founder, or otherwise to her legal representatives or estate. 
 13. Notice. For the purposes of this Agreement, notices,
demands and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered either personally or by United States certified or registered mail, return receipt requested, postage
prepaid, addressed as follows: 
 If to the Founder: 

At her residence address most recently filed with the Company. 

with a copy (which shall not constitute notice) to: 

Grubman Shire & Meiselas, P.C. 

152 West 57th Street 
 New York,
NY 10019 
 Attention: Allen J. Grubman; Lawrence Shire; Eric Sacks 

Email:       AGrubman@gispc.com; lshire@gispc.com; esacks@gispc.com 

If to the Company: 
 Martha
Stewart Living Omnimedia, Inc. 
 601 West 26th Street 

New York, New York 10001 

Attention: General Counsel 
 or to such other
address as any party may have furnished to the others in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

14. Miscellaneous. No provisions of this Agreement may be amended, modified, or waived unless such amendment or modification is
agreed to in writing signed by the Founder and by a duly authorized officer of the Company, and such waiver is set forth in writing and signed by the party to be charged. No waiver by either party hereto at any time of any breach by the other party
hereto of any condition or provision of this Agreement to be performed by such other party shall 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, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. The respective rights and obligations of the parties hereunder of this Agreement
(including, without limitation, the Founder’s right to be nominated for a Board seat under Section 1 above) shall survive the Founder’s termination of employment and the termination of this Agreement to the extent necessary for the
intended preservation of such rights and obligations. Except as otherwise provided in Section 10 hereof with respect to indemnification under Delaware law, the validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of New York without regard to its conflicts of law principles. 

  
 15 

 15. Key Person Insurance. The Company may, at its discretion and expense, apply for
and procure in its own name and for its own benefit “key person” or other life insurance and/or disability insurance on the Founder in any amount or amounts considered advisable. The Founder agrees to submit to any reasonably requested
physical examination in connection with the Company’s purchase of such insurance. The results of any such physical examination will be kept confidential by the Company and will only be disclosed to the extent required to obtain such insurance.
The Founder agrees to cooperate fully and supply any information and execute and deliver any applications or other instruments in writing as may be reasonably necessary in connection with the underwriting, purchase and/or retention of any insurance
policy by the Company. 
 16. Validity. The invalidity or unenforceability of any provision or provisions of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

17. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original
but all of which together will constitute one and the same instrument. 
 18. Entire Agreement. This Agreement and the Amended
and Restated Intellectual Property License and Preservation Agreement of even date herewith, and the Amended and Restated Intangible Asset License Agreement of even date herewith set forth the entire agreement of the parties hereto in respect of the
subject matter contained herein and, upon the commencement of the Employment Period, supersede all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee
or representative of any party hereto in respect of such subject matter including, without limitation, the Prior Employment Agreement. The parties agree that the Prior Employment Agreement will terminate effective as of 11.59 PM on the day
immediately preceding the Closing Date. 
 19. Withholding. All payments hereunder shall be subject to any required
withholding of Federal, state and local taxes pursuant to any applicable law or regulation. 
 20. Section Headings. The
section headings in this Employment Agreement are for convenience of reference only, and they form no part of this Agreement and shall not affect its interpretation. 

21. Section 409A. 

(a) The intent of the parties is that payments and benefits under this Agreement comply with Section 409A of the Internal Revenue Code of
1986, as amended, and the guidance issued thereunder (“Section 409A”) and, accordingly, to the maximum extent permitted, all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding
taxes or penalties under Section 409A. Founder is hereby advised to seek independent advice from her tax advisor(s) with respect to any payments or benefits under 

  
 16 

 
this Agreement. Notwithstanding the foregoing, the Company does not guarantee the tax treatment of any payments or benefits provided under this Agreement, whether pursuant to the Code, federal,
state, local or foreign tax laws and regulations. 
 (b) If the Founder is deemed on the date of termination of her “separation from
service” with the Company to be a “specified employee”, each within the meaning of Section 409A(a)(2)(B) of the Code, then with regard to any payment or the providing of any benefit under this Agreement, and any other payment or
the provision of any other benefit, in any such case that is required to be delayed in compliance with Section 409A(a)(2)(B) of the Code, such payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of
the six-month period measured from the date of the Founder’s separation from service, or (ii) the date of the Founder’s death, if and to the extent such six-month delay is required to comply with Section 409A(a)(2)(B) of the
Code. In such event, on or promptly after the first business day following the six-month-delay period, all payments delayed pursuant to this Section 21 (whether they would have otherwise been payable in a single sum or in installments in the
absence of such delay) shall be paid or reimbursed to the Founder in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. To the
extent applicable, if payment of an amount under this Agreement could be paid in one of two calendar years subject to the delivery of the Release in accordance with Section 8(a), and it is determined that payment of such amount in the earlier
of such two years could constitute noncompliance with Section 409A, then such amount shall be paid in the later of such two years and otherwise in accordance with the applicable payment schedule provided for under this Agreement (subject to
earlier payment upon the Founder’s death in accordance with the first sentence of this Section 21(b)). 
 (c) If under this
Agreement, an amount is to be paid in installments, each installment shall be treated as a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii). 

[Signature Page Follows] 

  
 17 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this
     day of June, 2015. 
  

			
	SINGER MADELINE HOLDINGS, INC.
		
	By:		 /s/ Yehuda Shmidman

	Name:		Yehuda Shmidman
	Title:		CEO
	
	 /s/ Martha Stewart

	Martha Stewart

  
 18EX-10.2

 Exhibit 10.2 

AMENDED AND RESTATED INTELLECTUAL PROPERTY LICENSE AND PRESERVATION AGREEMENT 

This AMENDED AND RESTATED INTELLECTUAL PROPERTY LICENSE AND PRESERVATION AGREEMENT (the “Agreement”), is entered into as of
June 22, 2015 (“Effective Date”), by and between Martha Stewart, an individual residing in Katonah, New York (“Licensor”), and Martha Stewart Living Omnimedia, Inc., a Delaware corporation with offices in New
York, New York (the “Company”). 
 WHEREAS, Licensor is the exclusive owner of all right, title and interest in and to
(i) her image, signature, voice and likeness and the goodwill appurtenant thereto, (ii) certain rights in and to her image, likeness, voice, signature and other elements of her persona and identity, including rights of publicity and rights
of privacy, (iii) all rights in and to her name, other than the trademarks, domain names and other rights (including all registrations thereof) owned by the Company as of the Effective Date (collectively, along with the New Marks (as defined
herein), the “Marks”) (without any right of reversion to Licensor or her legal representatives, heirs (including trusts and trustees) or estate), and (iv) all common law and statutory rights in the foregoing (collectively, the
“Property”); 
 WHEREAS, the Company entered into an Agreement and Plan of Merger (the “Merger
Agreement”), dated as of June 22, 2015, by and among Madeline Merger Sub, Inc., a Delaware corporation and wholly owned Subsidiary of TopCo, Sequential Brands Group, Inc., a Delaware corporation, Singer Merger Sub, Inc., a Delaware
corporation and wholly owned Subsidiary of TopCo, and Singer Madeline Holdings, Inc., a Delaware corporation (“TopCo”); and 

WHEREAS, pursuant to the Merger Agreement, Licensor and the Company wish to amend and restate the Intellectual Property License and
Preservation Agreement, dated as of October 22, 1999 (“Prior Agreement”), between the parties hereto, on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual premises set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. The Company’s Acknowledgment of
Licensor’s Rights. The Company hereby acknowledges that (a) Licensor exclusively owns all right, title and interest throughout the world (the “Territory”) in and to the Property, which Property has intrinsic value, and
(b) Licensor otherwise reserves all rights to the Property except those rights specifically granted to the Company herein (provided, however, that this reservation of rights shall not alter in any manner the Company’s rights under that
certain Amended and Restated Intangible Asset License Agreement dated as of even date herewith between Martha Stewart and the Company (the “Intangible Asset Agreement”)). Licensor represents and warrants to the Company that, as of
the date hereof, Licensor has the power and authority to license the Property on the terms and conditions of this Agreement. 

 2. Use of the Property. 

(a) Subject to the terms and conditions of this Agreement, Licensor hereby licenses to the Company the exclusive right to use, and to
authorize others to use, through sublicense or otherwise, the Property, or any portion thereof, throughout the Territory (i) on or in connection with any products and services of the Company or its affiliates or their respective licensees,
developed, manufactured and sold (or previously developed, manufactured and sold) as of the Effective Date or following the Effective Date in accordance with the terms of this Agreement, other than those products or services which are New Uses (all
such products and services, which include the Property or the Marks and including the magazine Martha Stewart Living, are referred to herein as the “Licensed Products” and the “Licensed
Services”), and (ii) for New Uses (as defined herein), which in all cases are branded under the “Martha Stewart” Mark or other Marks, during the term of this Agreement. During the term of any sublicense pursuant to this
Agreement (the “Company License Agreements”), the Company shall include requirements that its licensees preserve the goodwill of the Property, the Licensed Products, Licensed Services and New Uses (provided that the Company shall
not be required to amend the terms of any Company License Agreements signed prior to the Effective Date) and shall use commercially reasonable efforts to cause the licensees thereof to comply with the terms of the Company License Agreements relating
thereto. The use of the Property by, and Licensed Products and Licensed Services of, the Company or any licensee (or sublicensee) shall be at least substantially consistent with the Historical Standard (as defined below). The “Historical
Standard,” as of any date, shall mean substantially the same quality and positioning, including for the applicable products and services themselves and any packaging and related material, and any marketing (the “Historical
Criteria”), as any corresponding Licensed Products and/or Licensed Services offered by the Company or sold under any Company License Agreements at any time after February 3, 1997 and before the Effective Date, including, without
limitation, with respect to those Licensed Products sold under the Company’s prior license agreement with Kmart Corporation. Licensor and the Company hereby acknowledge and agree that the sale of Licensed Products and Licensed Services shall
only be permitted through the Mass Tier Channel of Distribution (as defined below) if the applicable Licensed Products and Licensed Services were, prior to the date hereof, sold through the Mass Tier Channel of Distribution. Except as set forth in
the immediately preceding sentence, Licensed Products and Licensed Services may only be sold through the Mass Tier Channel of Distribution or any channel below the Mass Tier Channel of Distribution with the Licensor’s (or her legal
representatives’, heirs’ (including trusts and trustees) or estate’s) written consent, such consent not to be unreasonably withheld, conditioned or delayed. With respect to channels of distribution not in existence on the Effective
Date, Licensed Products and Licensed Services, to the extent that such Licensed Products or Licensed Services are permitted to be sold in the Mass Tier Channel of Distribution pursuant to the terms hereof, may be sold through new channels of
distributions not in existence on the Effective Date if such new channel is of equal or greater prestige to the Mass Tier Channel of Distribution. With respect to any New Uses (as defined below), (i) those products and services set forth on
Exhibit B are pre-approved for sale in the Mass Tier Channel of Distribution or above, (ii) such New Uses may at all times be sold in channels of distribution above the Mass Tier of Distribution, and (iii) the sale of any other products or
services (i.e., other than those set forth on Exhibit B) which are New Uses through the Mass Tier Channel of Distribution or below shall require the written consent of Licensor (or her legal representatives, heirs (including trusts

  
 2 

 
and trustees) or estate), such consent not to be unreasonably withheld, conditioned or delayed. As used herein, the term “Mass Tier Channel of Distribution” shall mean general
merchandise or specialty retailers selling primarily first-quality, in-season merchandise to the mass consumer market (such as, by way of example, the following stores: Kmart, Wal-Mart, Target, J.C. Penney, Bed Bath & Beyond, DSW, Old Navy
and Amazon.com and its subsidiary Zappos.com), but, for clarity, does not include any Off-Price Retailers (defined below), budget, discount, variety or so-called “dollar” retailers or comparable retailers (such as Five Below, Shopko,
National Stores, Family Dollar Stores or Big Lots stores). As used herein, the term “Off-Price Retailers” shall mean retailers that are known for selling nationally-recognized branded products at discounted prices (such as TJX
Companies’ TJ Maxx, Marshall’s and Home Goods). Notwithstanding the foregoing or anything to the contrary in this Agreement, the Company or its licensees (or sublicensees) (y) shall be entitled to sell Licensed Products and products
which are New Uses which, in either case, are not of first quality (including “seconds” and “irregulars”) or which are end-of-season closeouts through Off-Price Retailers, and (z) may undertake special cut-up programs for
Licensed Products and other products which are New Uses with Off-Price Retailers in accordance with industry practice for comparable products. In determining whether Licensed Products or Licensed Services comply with the Historical Standard, with
respect to particular Licensed Products or Licensed Services, the parties will look to the Historical Criteria with respect to such Licensed Products or Licensed Services in comparison with the same Licensed Products and Licensed Services previously
offered by the Company or under the Company License Agreements. Subject to and without in any way limiting the foregoing requirements regarding Licensed Products and/or Licensed Services, the parties hereby acknowledge and agree that the Historical
Standard shall not otherwise restrict the Company from contracting with, or using services or deliverables from, outside service providers (including the Company’s licensees) to provide design, production and other services (including creative
services) relating to the Licensed Products or Licensed Services or require the Company to adhere to any particular spending requirements or budgets, historical or otherwise, with respect to such functions. All uses of the Property by the Company
and its affiliates and their respective licensees prior to the Effective Date are hereby approved for use by the Company in connection with Licensed Products and Services; provided, that, such use is (i) consistent with the terms of this
Agreement, and (ii) substantially similar to the use prior to the Effective Date. Subject to the rights reserved for Licensor hereunder, including the Reserved Rights (as defined below), Licensor shall not (I) grant any rights to the
Property to any other person or entity following the Effective Date that conflict or compete with, or would reasonably be expected to conflict or compete with, those granted to the Company under this Agreement, including granting a third party the
right to use the Property in connection Licensed Products, Licensed Services and New Uses or (II) use the Property in a manner that could reasonably be expected to infringe or otherwise conflict with the Marks. 

(b) The Company and its affiliates and their respective licensees may use the Property and the Marks in connection with new businesses,
products or services not planned, launched or developed prior to the Effective Date (such new businesses, products, and services, collectively, “New Uses”), in each case, so long such New Uses, (i) are (A) substantially
consistent with the uses of the Property prior to the Effective Date, (B) substantially consistent with or exceed the Historical Standard for the most similar Licensed Products or Licensed Services in existence prior to the Effective Date,
(C) substantially the same quality and 

  
 3 

 
positioning, including for products and services themselves and any packaging and related material, and any marketing as the better licensed brands sold in the applicable channel of distribution
for the applicable product or service (as permitted hereunder), and (D) not contained within any of the categories attached hereto as Exhibit C, or (ii) have been consented to in writing by Licensor (or her legal representatives, heirs
(including trusts and trustees) or estate). For clarity, New Uses shall not include, and Licensor’s consent shall not be required for, reasonable extensions of the lines of business in which the Company or its affiliates or their respective
licensees are engaged or planned to be engaged at the Effective Date (including the Licensed Products or Licensed Services), which extensions (and their related products and services) shall be included in the license contained herein and subject to
the Historical Standard and other use requirements contained herein. The Company shall keep Licensor (or her legal representatives, heirs (including trusts and trustees) or estate) advised of any New Uses in a timely manner, so that such entity may
confirm the Company’s compliance with the terms hereof. 
 (c) Subject to the terms and conditions of this Agreement, Licensor hereby
grants to the Company the exclusive right to use and exploit in any and all media the Property as it appears in any and all television programs, digital media and/or videos (including content developed for the Company’s on line/digital
businesses) produced by or for the Company (or its predecessor) (collectively, “Programs”), whether such Programs were produced, aired, marketed or sold prior to, on, or after, the date of this Agreement, provided that the grant in
this sentence shall be limited to the use of such Programs (i) substantially as a whole (it being acknowledged and understood that the Company shall have the right to edit such Programs for time and commercials and to add bumpers and
introductions), (ii) as part of a collection or similar compilation (such as “Best of” programs or videos) of Licensor appearances relating to the business colloquially known as of the date hereof as “Martha Stewart Living
Television”, (iii) in any other manner used by the Company prior the Effective Date, including, without limitation, under the Company’s agreements with AOL, Yahoo and other Internet Service Providers or (iv) as excerpts (which,
for the avoidance of doubt, shall not include “outtakes” or “bloopers”) of such Programs, for use on streaming services and the advertising, promotion and/or marketing of any of the foregoing. For the avoidance of doubt, with
respect to new Programs produced after the Effective Date, Licensor will have a reasonable right of approval over the Property, and the use thereof, in the Programs at its various stages (e.g., storyboard, script, rough cut, etc.) prior to
Company’s exploitation thereof, such approval not to be unreasonably withheld, conditioned or delayed. 
 (d) The use of the Property
by the Company pursuant to this Agreement shall be on a royalty-free basis. 
 (e) Notwithstanding any other provision of this Agreement,
but subject to any employment or other agreement that Licensor may have from time to time with the Company, the license provided herein shall not prohibit Licensor from using or exploiting the Property in connection with (collectively, the
“Reserved Rights”): (i) writing books (including biographies or memoirs), articles, movies, plays, scripts or other literary products in areas other than businesses of the Company covered by this Agreement (including, without
limitation, with respect to the Licensed Products, Licensed Services and New Uses); (ii) making speeches or 

  
 4 

 
public appearances (including on radio, television, in films or over the Internet or similar media) for any purpose other than the promotion of a product or service that competes in any material
respect with the Licensed Products, Licensed Services or New Uses at that time; (iii) endorsing products or services which are not competitive in any material respect, at the time of the commencement of such endorsement, with the Licensed
Products, Licensed Services or New Uses; (iv) becoming a director, employee, partner, advisor, member, consultant or shareholder of, investor in or otherwise being engaged with any other company, corporation, partnership or other entity which
is not competitive with the Company at the time Licensor assumes such position; and (v) activities which are incidental and do not significantly infringe on the Marks or the Company’s rights hereunder. 

(f) The Company may, in its sole discretion, freely sublicense the Property and the rights granted herein to any person or entity. Any
sublicense by the Company of the Property shall contain protections with respect to the Property consistent with the terms hereof and shall acknowledge that such sublicensee does not obtain any ownership rights in, or goodwill to, the Property. 

(g) Notwithstanding anything to the contrary contained herein, any uses of the image or likeness of the Licensor, whether by the Company or
any licensee or sub-licensee of the Company shall require the prior written approval of Licensor (or her legal representatives, heirs (including trusts and trustees) or estate), such consent not to be unreasonably withheld, conditioned or delayed,
unless (i) the Company (or licensee or sublicensee) has used the same image or likeness in substantially the same manner prior to the Effective Date, or (ii) Licensor approved such image and likeness after the Effective Date with respect
to a certain use and the Company (or licensee or sublicensee) uses such image and likeness in substantially the same manner as such previously approved use. Any objection by Licensor (or her legal representatives, heirs (including trusts and
trustees) or estate) to such use by the Company (or its licensee or sublicensee) shall be communicated to the Company no later than 30 days after receipt of the Company’s request for such written approval; provided, however, that if the
Licensor (or her legal representatives, heirs (including trusts and trustees) or estate) fail to respond to the Company within such 30 day period, then, after such 30-day period, the Company may provide Licensor (or her legal representatives, heirs
(including trusts and trustees) or estate) with a second notice with such request. If Licensor (or her legal representatives, heirs (including trusts and trustees) or estate) fails to respond to such second notice within 10 days after receipt of
such notice, then the Company’s proposed use of the image or likeness of the Licensor shall be deemed approved by Licensor (and her estate). 

3. Term. The term of this Agreement shall commence upon the Effective Time (as defined in the Merger Agreement) and shall be perpetual.
In the event the Merger Agreement is terminated, this Agreement shall automatically terminate (in which case the Prior Agreement will remain in full force and effect). In the event of any breach of this Agreement by the Company, Licensor may not
terminate this Agreement but shall have all remedies at law and in equity, including seeking the Company’s specific performance of the terms of this Agreement. The parties acknowledge and agree that this Agreement, and all rights and licenses
granted under or pursuant to this Agreement by Licensor to the Company are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code (the “Code”) and

  
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comparable bankruptcy or insolvency laws and regulations, licenses to rights to “intellectual property” as defined under the Code. The parties agree that the Company, as licensee
of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the Code. The parties further agree that, in the event of the commencement of bankruptcy proceedings by or against Licensor under the
Code, the Company shall be entitled to retain all of its rights under this Agreement. 
 4. Quality of Products and Services Provided in
Connection with Property. Following the expiration or termination of the Employment Period as defined and under Licensor’s Employment Agreement with Topco of even date herewith, upon Licensor’s (or her designee, successor or
assignee’s) reasonable request and to the extent Licensor (or her designee, successor or assignee) reasonably deems it to be necessary to protect Licensor’s rights under this Agreement, Licensor or her designee, successor or assignee shall
have the right to request and receive, at no cost to the recipient, representative samples of each Licensed Product and Licensed Service, and any New Uses, as well as a prototype of each type of all promotional, advertising and marketing material
used in connection therewith, for the purpose of evaluating the compliance with the terms contained herein of the same. In the event that in Licensor’s (or her designee, successor or assignee’s) reasonable and good faith judgment, any
Licensed Product or Licensed Service fails (other than in an immaterial manner) to satisfy the Historical Standard, or any New Use fails to comply with paragraph 2(b) above, then promptly upon written notice by Licensor (or her designee, successor
or assignee) to the Company, the Company and Licensor (or he designee, successor or assignee) shall cooperate in good faith to make necessary and appropriate changes (if any) in the quality of such Licensed Product or Licensed Service or New Use to
comply with the standard and other applicable terms provided for herein; provided that nothing in this sentence shall be deemed to affect the substantive rights and obligations of the parties hereunder. 

5. The Properties. (a) Subject to the terms hereof, including Section 2(a) and Section 2(b), the Company may combine any
designation with the Property (other than with respect to the image and/or likeness of Licensor) or Marks so as to form a new trademark, service mark, trade name or company name (such Marks or names, the “New Marks”) to be utilized
in connection with the Licensed Products, Licensed Services or New Uses. Subject to the terms of this Agreement, the Company shall be the owner of the New Marks and may register such rights with any applicable government agency in any jurisdiction
in the Territory. 
 (b) The Company acknowledges that it is not, and will not become by virtue of this Agreement, the owner of any right,
title or interest in and to the Property. The Company shall not at any time knowingly commit any act anywhere in the world which would reasonably be expected to have a material adverse effect on Licensor’s rights in and to the Property, or any
registrations therefor or any applications for registration thereof. The Company shall not use, authorize of permit the use of the Property in an obscene, lewd or derogatory manner. Unless the other party’s conduct violates the terms of this
Agreement or applicable law, neither party shall challenge or knowingly assist or cause any third party to challenge or assist, whether directly or indirectly, anywhere in the world, (i) the other party’s ownership of or the validity of
the other party’s intellectual property (including with respect to the Company, the Marks), (ii) any application for registration therefor, or (iii) any rights therein or thereto, in each

  
 6 

 
case, before any court, agency, or other tribunal, or in defending any claim of infringement. The term “assist” shall include providing any third party, whether directly or indirectly,
with an analysis of any intellectual property in furtherance of an actual or contemplated validity challenge. 
 (c) The Company, at its
expense, shall (i) file appropriate registrations in its own name or in the name of a Company subsidiary or affiliate of any Marks so as to preserve the goodwill thereof and Licensor’s rights in the Property, (ii) prosecute and defend
such registrations and all common law rights in the Marks and Property consistent with good commercial practices, and (iii) use reasonable commercial efforts to defend and otherwise protect the Marks and the Property, provided that following
the Effective Date, Licensor shall have the right to reasonably direct and control such actions with respect to the Property, in each case at the Company’s expense. At the request of Licensor, her legal representatives, heirs (including trusts
and trustees) or estate, and at the Company’s expense, the Company shall prosecute, including by filing lawsuits or other actions, any potential infringement, dilution, libel, slander or other diminution in the goodwill or other denigration of
the Property by any third party, unless in the opinion of the Company’s outside intellectual property counsel there is no basis for such action or such action could reasonably be expected to have a material adverse impact on one or more of the
Marks. The Company shall be entitled to the proceeds, or other legal remedies, of any such action. The Company may also institute such actions where not requested by Licensor, her legal representatives, heirs (including trusts and trustees) or
estate, in the event the Company determines that the protection of the Property or the Marks reasonably requires such action. In the event that the Company learns of any infringement or other violation of rights in or to the Property, it shall
promptly notify Licensor thereof. At Licensor’s request, the Company shall execute all documents reasonably requested by Licensor to confirm Licensor’s ownership of rights in and to the Property. The Company shall cooperate at
Licensor’s reasonable request in connection with the filing and prosecution of applications to register the Property and in connection with the maintenance and renewal of such registrations as may issue. Licensor and the Company shall cooperate
in good faith, taking into account their respective interests in and rights to the Property, to determine whether or not such applications are filed and prosecuted and registrations are maintained. The Company shall pay all costs and expenses of any
such filings or proceedings. Notwithstanding the foregoing, the Company shall be under no obligation to defend or otherwise protect the Property in connection with personal injury claims of Licensor (including claims of invasion of privacy, libel,
slander, defamation, harassment or abuse), unless the Company reasonably believes that such claim or the circumstances underlying such claim could have a significant adverse impact on the Company’s business. 

(d) In connection with the right to adopt New Marks (as permitted hereunder) or to maintain, defend or renew the Marks, Licensor (or her
legal representatives, heirs (including trusts and trustees) or estate) shall sign and deliver to Company the consent attached hereto as Exhibit A as and when reasonably requested by the Company with respect to any Mark. At the Company’s
request and expense, Licensor shall execute all documents reasonably requested by the Company to confirm the Company’s ownership of the Marks and to assist the Company to obtain registrations for, enforce and protect the Marks. Neither Licensor
nor any person or entity working on behalf of or in concert with Licensor shall seek to register or 

  
 7 

 
claim ownership of any Marks. Licensor shall cooperate at the Company’s reasonable request and expense in connection with the filing and prosecution of applications to register, renew and
enforce the Marks and in connection with the maintenance and renewal of such registrations as may issue. Licensor and the Company shall cooperate in good faith, taking into account their respective interests in and rights to the Property and the
Marks. The Company shall bear all costs and expenses of any such filings or proceedings. 
 (e) If one party hereto reasonably requests of
the other to take an action in connection with the foregoing, the other party shall cooperate in connection with any such action, including, without limitation, by being a plaintiff or co-plaintiff and by causing its officers, directors, and
employees to execute documents and to testify. If the Company desires to take action with respect to a violation or infringement of the Property, it shall consult with Licensor, and shall not take any actions which Licensor reasonably requests not
to be taken. All costs and expenses of the actions described in this paragraph shall be borne by the Company. 
 (f) The Company shall take
commercially reasonable actions to protect the Marks and the goodwill related thereto consistent with the provisions of this Section. 
 6.
Indemnity. (a) The Company hereby saves and holds Licensor, her heirs (including trusts and trustees), estate, successors and assigns (the “Indemnified Parties”) harmless of and from, and indemnifies and agrees to defend
the Indemnified Parties against any and all losses, liability, damages and expenses (including, without limitation, reasonable attorney’s fees and expenses) which the Indemnified Parties may incur or be compelled to pay, or for which the
Indemnified Parties may become liable or be compelled to pay in any action, claim or proceeding against the Indemnified Parties, for or by reason of any acts, whether of omission or commission, that may be committed or suffered by the Company or any
of its officers, directors, employees, agents or servants (other than the Indemnified Parties) in connection with the Company’s performance of its obligations under this Agreement, the use (including sublicensing) of the Property and the Marks
(including, any claims asserting product liability or breach of any express or implied warranty), or the breach by the Company of any covenant contained herein, in each case, except to the extent such action, claim or proceeding is primarily due to
the gross negligence or willful misconduct of an Indemnified Party. The indemnification rights provided for herein shall also apply to any use by the Company of the Property or any Marks prior to the date hereof. 

(b) In the event that an Indemnified Party receives notice of a claim as to which indemnification is sought, such party shall reasonably
promptly notify the Company thereof, except that the failure to so notify shall not exempt the Company from its obligations hereunder, except to the extent that such failure has actually prejudiced the Company’s legal position with respect to
the claim. Upon receipt of notice, the Company shall advise the Indemnified Party that it has assumed the defense thereof. The Indemnified Party shall have the right, at the expense of the Company, to retain legal counsel to participate in and
monitor the defense of the claim, provided that the Company shall have the right to direct and control such defense. The Company shall not, without Licensor’s written consent, settle or compromise any claim or consent to entry of any
judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party of a release from all 

  
 8 

 
liability in respect of such claim, nor shall the Company settle or compromise any claim relating to the Property or the Marks which would limit the use by Licensor of the Property in any manner
whatsoever without Licensor’s consent. 
 (c) In connection with any action by the Company to enforce, protect or defend the Property
or the Marks, Licensor may elect to retain counsel of her own choosing, in addition to Company counsel, in order to monitor and participate in such action. The Company agrees to consider in good faith the views of such counsel and to keep Licensor
and such counsel reasonably informed of the progress of any such action, subject to the preceding sentence. The fees and expenses of such counsel shall be paid for by the Company. 

(d) The Company shall maintain in effect at all times commercial general liability and errors and omissions insurance, in customary amounts
taking into account the size of the Company, the value of the Property and the obligations of the Company hereunder, and shall name Licensor and the other Indemnified Parties hereunder as beneficiaries thereof for purposes of this Agreement. 

7. Certain Remedies. The parties agree that the remedies at law for any material breach or threatened material breach of this
Agreement, including monetary damages, are inadequate compensation for any loss and that the non-breaching party shall be entitled to seek specific performance of this Agreement. The parties hereto waive any defense to such claim that a remedy at
law would be adequate. In the event of any actual or threatened material default in, or material breach of, any of the terms hereof, the party aggrieved thereby shall have the right to seeks specific performance and injunctive or other equitable
relief with respect to its rights hereunder, in addition to any remedies available at law. 
 8. Miscellaneous. (a) This
Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or
effect. This Agreement may not be amended or modified except by a written agreement executed by the parties hereto or their respective successors and legal representatives. 

(b) This Agreement is assignable by the Company to any of its affiliates or to any successor of the Company (or its affiliates) which
acquires all or substantially all of the assets or businesses of the Company or to an acquirer, whether by sale, merger, recapitalization or other business combination, of all or substantially all of the equity, assets or businesses of the Company
without Licensor’s consent, provided that (i) any such successor or assignee shall provide Licensor with a written agreement that it shall be bound by all the terms of this Agreement, and (ii) with respect to an assignment to
an affiliate, the Company or Topco guarantees the obligations of such affiliate hereunder. This Agreement shall be assignable by Licensor to any entity controlled by her, and inure to the benefit of and be binding upon the successors, legal
representatives, heirs (including trusts and trustees) and assigns of Licensor, provided that any such successor or other assignee shall provide the Company with a written agreement that it shall be bound by all the terms of this Agreement
and the Licensor agrees in writing to continue to be bound by the Agreement’s terms. Except as specified in this Section 8(b), this Agreement is not assignable. 

  
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 (c) All notices and other communications under this Agreement shall be in writing and shall be
given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to the Licensor: 

Martha Stewart 
 Address on file
with the Company 
 with a copy (which shall not constitute notice) to: 

Grubman Shire & Meiselas, P.C. 

152 West 57th Street 
 New York,
NY 10019 
 Attention: Allen J. Grubman; Lawrence Shire; Eric Sacks 

Email:       AGrubman@gispc.com; lshire@gispc.com; esacks@gispc.com 

If to the Company: 

Martha Stewart Living Omnimedia, Inc. 

601 West 26th Street 

New York, New York 10001 

Attention: General Counsel 
 or to such other
address as either party furnishes to the other in writing in accordance with this Section. Notices and communications shall be effective when actually received by the addressee. 

(d) The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement. If any provision of this Agreement shall be held invalid or unenforceable in part, the remaining portion of such provision, together with all other provisions of this Agreement, shall remain valid and enforceable and
continue in full force and effect to the fullest extent consistent with law. 
 (e) Licensor and the Company acknowledge that this
Agreement, at the Effective Time, will supersede any other agreement between them concerning the subject matter hereof, including the Prior Agreement. 

(f) This Agreement may be executed in several counterparts, each of which shall be deemed an original, and said counterparts shall constitute
but one and the same instrument. 
 Remainder of page intentionally left blank; signature page follows. 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have duly caused this Agreement to be executed in its name
on its behalf, all as of the day and year first above written. 
  

					
	 /s/ Martha Stewart

	Martha Stewart
	
	MARTHA STEWART LIVING OMNIMEDIA, INC.
		
	By:		 /s/ Daniel W. Dienst

			Name:		Daniel W. Dienst
			Title:		Chief Executive Officer

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