EX-10.1 2 ex101to8k08477002_12062017.htm

Exhibit 10.1



This Amendment (the “Amendment”), dated December 6, 2017, to the Employment Agreement dated as of December 15, 2006, as amended November 1, 2012 (as so amended, the “Agreement”), by and between Nathan’s Famous, Inc., a Delaware corporation, with its principal office located at One Jericho Plaza, Jericho, New York 11753 (together with its successors and assigns permitted under this Agreement, “Nathan’s”), and Howard M. Lorber who resides at 8061 Fischer Island, Miami, Florida 33109 (“Lorber”), is made by and among Nathan’s and Lorber.


WHEREAS, the parties wish to amend the Agreement in order to (i) increase the cash compensation of Lorber without additional grants of restricted shares and (ii) further extend the termination date of the Agreement.

NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the parties hereto agree as follows:

1. Definitions. All capitalized terms not otherwise defined herein shall have the meanings given to them in the Agreement.

2. Amendment to Salary. Section 5 of the Agreement is hereby amended to read in its entirety as follows:

Lorber shall receive from Nathan’s a salary, at the rate of $1,000,000 per annum.

3. Termination. Section 2(b) of the Agreement shall be amended by replacing “December 31, 2017” with “December 31, 2022.”

4. Restricted Stock. The current language in Section 8(a) of the Agreement will be deleted.

5. Limited Nature of Amendments and Waivers. The Amendment is limited as provided herein and does not extend to any other provisions of the Agreement not specified herein nor to any other matter. Except as expressly amended hereby, the terms and provisions of the Agreement shall remain in full force and effect.

6. Effectiveness. This Amendment shall become effective as of January 1, 2018.

7. Counterparts; Execution. This Amendment may be executed in counterparts and all such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by telefacsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this Amendment.

8. Governing Law. This Amendment shall be governed by and construed and interpreted in accordance with the laws of the State of New York, without reference to principles of conflict of laws.

[Signature page follows]



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


/s/ Eric Gatoff

    Name: Eric Gatoff
    Title: Chief Executive Officer




/s/ Howard M. Lorber

  Howard M. Lorber