SEC Contract Filing

Filing Date: 2025-03-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.271
<SEQUENCE>4
<FILENAME>ex_781054.htm
<DESCRIPTION>EXHIBIT 10.27.1
<TEXT>
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<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.271</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>FIRST AMENDMENT TO EMPLOYMENT AGREEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">This <b>FIRST AMENDMENT TO EMPLOYMENT AGREEMENT</b> (the &#8220;<u>First Amendment</u>&#8221;) is effective as of November 4, 2024&nbsp;(the &#8220;<u>First Amendment Effective Date</u>&#8221;) by and between <b>BAMKO, LLC</b>, a Delaware limited liability company (the &#8220;<u>Company</u>&#8221;), and <b>JAKE HIMELSTEIN</b> (&#8220;<u>Employee</u>&#8221;). Employee and the Company are each referred to herein as a &#8220;Party&#8221; and collectively as the &#8220;Parties.&#8221;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>BACKGROUND</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;The Parties entered into that certain Employment Agreement, effective July 1, 2021 (the &#8220;<u>Employment Agreement</u>&#8221;), in connection with Employee becoming President of BAMKO, LLC (which now is part of the Branded Products segment).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">B.&nbsp;&nbsp;&nbsp;&nbsp;The Parties recently determined that in order to more effectively pursue potential acquisitions and for other reasons, the Employment Agreement should be amended.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">C.&nbsp;&nbsp;&nbsp;&nbsp;The Parties desire to enter into this First Amendment to amend and modify the Employment Agreement and the terms and conditions of the employment relationship between the Company and Employee.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>AGREEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><b>NOW, THEREFORE</b>, in consideration of the mutual agreements and promises contained herein and for other good and valuable consideration, the Parties agree that the Employment Agreement is hereby amended and modified as follows:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Background</u>. As of the First Amendment Effective Date, the recitals set forth under the heading &#8220;Background&#8221; are hereby deleted and replaced in their entirety as follows:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company acquired substantially all of the assets owned or used by BAMKO, Inc., a California corporation, which is now named PEKMA, Inc. (&#8220;Original BAMKO&#8221;), pursuant to an Asset Purchase Agreement between the Company, Original BAMKO, Employee and all the other shareholders of Original BAMKO (the &#8220;Purchase Agreement&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee was a shareholder and executive officer of Original BAMKO prior to the Purchase Agreement, and accepted employment with the Company following the closing of the transactions contemplated by the Purchase Agreement (the &#8220;Transaction&#8221;), and Employee has and will continue to substantially benefit from the Transaction.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee has been employed with the Company since March 1,