SEC Contract Filing

Filing Date: 2015-05-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v410400_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Exhibit 10.2</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps"><B><U>Second
Amendment to Award Agreement</U></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This <FONT STYLE="font-variant: small-caps">Second
Amendment to Award</FONT> <FONT STYLE="font-variant: small-caps">Agreement</FONT> (this &ldquo;Amendment&rdquo;) is dated as of
September 23, 2014, between Medley LLC, a Delaware limited liability company (the &ldquo;Company&rdquo;), and Richard T. Allorto
(&ldquo;Participant&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>RECITALS</B></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">A.</TD><TD>Pursuant to that certain Class C Unit Award Agreement under the Amended and Restated Limited Liability Company Agreement of
Medley LLC dated and effective as of December 14, 2012, effective as of January 7, 2013 (the &ldquo;Initial Agreement&rdquo;),
as amended by the Amendment to Award Agreement dated as of May 29, 2014 (the &ldquo;First Amendment&rdquo;; the Initial Agreement,
as amended by the First Amendment, the &ldquo;Award Agreement&rdquo;), the Company granted to Participant 1,000,000 Class B Units
(the &ldquo;Existing Units&rdquo;).</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">B.</TD><TD>Concurrently herewith, the Members of the Company are entering into the Fourth Amended and Restated Limited Liability Company
Agreement of Medley LLC (the &ldquo;Amended LLC Agreement&rdquo;). Any term capitalized but not defined in this Agreement will
have the meaning set forth in the Amended LLC Agreement.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
premises and agreements of the parties set forth herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and Participant hereby agree as follows:</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD><B>Approval of Amended LLC Agreement. </B> Participant hereby approves the Amended LLC Agreement in the form previously presented
to Participant and attached hereto.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD><B>Reclassification of Existing Units.</B> Upon the effectiveness the Amended LLC Agreement (the &ldquo;Effective Time&rdquo;),
the Existing Units shall be reclassified as 606,061 Class A Units, which Class A Units are fully vested.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD><B>Amendment of Award Agreement. </B>Upon the Effective Time, the Award Agreement shall be amended as follows:</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD>Each of the following sections of the Award Agreement is deleted in its entirety and replaced with &ldquo;Reserved&rdquo;:
Section 1, Section 3, Section 5, Section 7, Section 8(a), Section 8(b) and Section 8(c).</TD></TR></TABLE>

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