<SEC-DOCUMENT>0001144204-16-107569.txt : 20160609
<SEC-HEADER>0001144204-16-107569.hdr.sgml : 20160609
<ACCEPTANCE-DATETIME>20160608183910
ACCESSION NUMBER:		0001144204-16-107569
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160607
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160609
DATE AS OF CHANGE:		20160608

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAKKS PACIFIC INC
		CENTRAL INDEX KEY:			0001009829
		STANDARD INDUSTRIAL CLASSIFICATION:	GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944]
		IRS NUMBER:				954527222
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35448
		FILM NUMBER:		161704546

	BUSINESS ADDRESS:	
		STREET 1:		22619 PACIFIC COAST HWY
		CITY:			MALIBU
		STATE:			CA
		ZIP:			90265
		BUSINESS PHONE:		3104567799

	MAIL ADDRESS:	
		STREET 1:		22619 PACIFIC COAST HWY
		CITY:			MALIBU
		STATE:			CA
		ZIP:			90265
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v442026_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>June 7, 2016 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JAKKS PACIFIC, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 34%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>0-28104</B></FONT></TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>95-4527222</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(State or other jurisdiction</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">(Commission</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">of incorporation)</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">File Number)</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>2951 28<SUP>th</SUP> Street, Santa Monica, California </B></FONT></TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>90405</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(424) 268-9444</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.8pt; text-indent: -74.8pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; text-indent: 0"><B>Item 5.02.&nbsp;&nbsp;</B></TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 7, 2016 we
amended the employment agreement between us and Mr. Stephen G. Berman, our Chairman, CEO and President, and entered into Amendment
Number Two to Mr. Berman&rsquo;s Second Amended and Restated Employment Agreement dated November 11, 2010 (the &ldquo;Employment
Agreement&rdquo;). The terms of Mr. Berman&rsquo;s Employment Agreement have been amended as follows: (i) extension of the term
until December 31, 2020; (ii) increase of Mr. Berman&rsquo;s Base Salary to $1,450,000.00 effective June 1, 2016, subject to annual
increases thereafter as determined by the Compensation Committee, with annual minimum increases of $25,000.00 commencing January
1, 2017; (iii) modification of the performance and vesting standards for each $3.5 million Annual Restricted Stock Grant (&ldquo;Annual
Stock Grant&rdquo;) provided for under Section 3(b) of the Employment Agreement, effective as of January 1, 2017, so that 40% ($1.4
million) of each Annual Stock Grant will be subject to time vesting in four equal annual installments over four years and 60% ($2.1
million) of each Annual Stock Grant will be subject to three year &ldquo;cliff vesting&rdquo; (i.e. payment is based upon performance
at the close of the three year performance period), with vesting of each Annual Stock Grant determined by the following performance
measures: (a) total shareholder return as compared to the Russell 2000 Index (weighted 50%), (b) net revenue growth as compared
to our peer group (weighted 25%) and (c) EBITDA growth as compared to our peer group (weighted 25%); (iv) modification of the performance
measures for award of the Annual Performance Bonus equal to up to 300% of Base Salary (&ldquo;Annual Bonus&rdquo;) provided for
under Section 3(d) of the Employment Agreement, effective as of January 1, 2017, so that the performance measures will be based
only upon net revenues and EBITDA, each performance measure weighted 50%, and with the specific performance criteria applicable
to each Annual Bonus determined by the Compensation Committee during the first quarter of each fiscal year; and (v) provision of
health and dental insurance coverage for Mr. Berman&rsquo;s children in the event of his death during the term of the Employment
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing is only
a summary of certain of the terms of the second amendment to the Employment Agreement. For a complete description, a copy of such
amendment is annexed hereto in its entirety as an exhibit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; font-weight: bold; text-indent: 0">Item 9.01.&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-indent: 0">Financial Statements and Exhibits</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding: 0; text-indent: 0">(d) </TD>
    <TD STYLE="padding: 0; text-indent: 0">Exhibits </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Exhibit</U></B></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><B><U>Description</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">10.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Amendment Number Two dated June 7, 2016 to Employment Agreement between the Company and Stephen G. Berman</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 239.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.55pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2">JAKKS PACIFIC, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 62%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 35%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dated:&nbsp;&nbsp;June 8, 2016</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ JOEL M. BENNETT&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Joel M. Bennett, CFO </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Exhibit</U></B></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><B><U>Description</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">10.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Amendment Number Two dated June 7, 2016 to Employment Agreement between the Company and Stephen G. Berman</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v442026_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AMENDMENT NUMBER TWO dated June 7, 2016 (referred to as &ldquo;the
Amendment&rdquo;), amending the Second Amended and Restated Employment Agreement dated November 11, 2010 by and between Stephen
G. Berman (&ldquo;Berman&rdquo; or &ldquo;Executive&rdquo;) and JAKKS Pacific, Inc., a Delaware corporation the &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>WITNESSETH:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS, </B>Executive and the Company
entered into the Second Amended and Restated Employment Agreement dated November 11, 2010 (the &ldquo;2010 Restated Employment
Agreement&rdquo;), as modified by the October 20, 2011 letter amendment, and as amended by Amendment Number One dated September
12, 2012 (the &ldquo;2012 Amendment&rdquo;; the 2010 Restated Employment Agreement, as heretofore modified and amended is referred
to as the &ldquo;Amended Employment Agreement&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>WHEREAS, </B>Executive and the Company
desire to further amend the terms of the Amended Employment Agreement on the terms and subject to the conditions set forth in this
Amendment Number Two (the Amended Employment Agreement, as amended by this Amendment Number Two, is referred to as the &ldquo;Employment
Agreement&rdquo;.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>NOW, THEREFORE, </B>in consideration
of the mutual promises, representations and warranties set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, and pursuant to Section
21 of the 2010 Restated Employment Agreement, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Definitions</B>. Capitalized terms not otherwise defined in this Amendment are used with the same meanings ascribed thereto
in the Amended Employment Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Term</B>. Section 2 of the 2010 Restated Employment Agreement, as amended by the 2012 Amendment, is further amended in its
entirety to provide as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&ldquo;<B>2.</B> &#9;<B>Term</B>. The term of this
Agreement shall commence as of the date hereof and the term of this Agreement and Executive&rsquo;s employment hereunder shall
end on December 31, 2020, subject to earlier termination upon the terms and conditions provided elsewhere herein (the &ldquo;Term&rdquo;).
As used herein, &ldquo;Termination Date&rdquo; means the last day of the Term.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Compensation</B>. Section 3 of the 2010 Restated Employment Agreement, as amended by the 2012 Amendment, is further amended
as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><B>3.1.</B></TD><TD><FONT STYLE="font-size: 10pt"><U>Base Salary</U>. Section 3(a) of the 2010 Restated Employment Agreement, as amended by the
2012 Amendment, is amended in its entirety to provide as follows:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&ldquo;a. &#9;<U>Base Salary</U>. As compensation
for his services hereunder, the Company shall pay to Executive a base salary (&ldquo;Base Salary&rdquo;) effective as of June 1,
2016 at the annual rate of $1,450,000.00, and commencing January 1, 2017 and for each subsequent calendar year during the Term
at an annual rate to be determined by the Compensation Committee of the Company&rsquo;s Board of Directors (the &ldquo;Compensation
Committee&rdquo;), but that is at least $25,000.00 more than the annual rate in the immediately preceding calendar year. The Base
Salary shall be paid to Executive in substantially equal installments in accordance with the Company&rsquo;s payroll practices,
subject to any required tax withholding.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><B>3.2.</B></TD><TD><FONT STYLE="font-size: 10pt"><U>Annual Restricted Stock Awards</U>. Effective as of January 1, 2017, Section 3(b) of the 2010
Restated Employment Agreement, as amended by the 2012 Amendment, is amended in its entirety to provide as follows:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&ldquo;b. <U>Annual Restricted Stock Awards</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">(i)&#9;<I>Definitions</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">A. The term &ldquo;<B>Annual Restricted Shares Grant</B>&rdquo;
means the number of shares of Restricted Stock issued on each annual Issuance Date, which shall be determined by dividing $3,500,000.00
by the closing price of a share of the Company&rsquo;s Common Stock on the first trading date immediately preceding such annual
Issuance Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">B. The term &ldquo;<B>Common Stock</B>&rdquo; means
the Company&rsquo;s common stock, par value $.001 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">C. The term &ldquo;<B>Issuance Date</B>&rdquo; means
January 1, 2017 and January 1 of each calendar year thereafter occurring during the Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">D. The term &ldquo;<B>Performance Measures</B>&rdquo;
is defined in section 3.4 below of this Amendment Number Two.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">E. The term &ldquo;<B>Performance Shares</B>&rdquo;
is defined in sub-paragraph (ii) (A) below of this Amendment Number Two.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">F. The term &ldquo;<B>Plan</B>&rdquo; means the Company&rsquo;s
2002 Stock Award and Incentive Plan as in effect on June 1, 2016 and as subsequently may be amended, from time to time, or any
successor plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">G. The term &ldquo;<B>Restricted Stock</B>&rdquo; means
shares of restricted common stock of the Company, par value $.001 per share issuable under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">H. The term &ldquo;<B>Restricted Stock</B> <B>Performance
Measures</B>&rdquo; has the meaning provided for in Exhibit &ldquo;A&rdquo; annexed to of this Amendment Number Two.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">(ii)&#9; Pursuant to and subject to the terms (including,
without limitation, the availability of shares reserved for issuance thereunder) of the Plan, the Company shall issue to Executive
on each annual Issuance Date that number of shares of Restricted Stock with a value equal to $3,500,000.00 which shall vest as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">A. Sixty Percent (60%) of each Annual Restricted Shares
Grant, equal in value on its Issuance Date to $2,100,000.00, shall vest in accordance with the Restricted Stock Performance Measures
(the shares included in that part of each Annual Restricted Shares Grant that vest in accordance with the Restricted Stock Performance
Measures are referred to as the &ldquo;<B>Performance Shares</B>.&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">B. Forty Percent (40%) of each Annual Restricted Shares
Grant, equal in value on its Issuance Date to $1,400,000.00, shall vest in four (4) equal annual installments, with twenty-five
percent (25%) thereof vesting on each of the first, second, third and fourth anniversaries of its Issuance Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><B>3.3.</B></TD><TD><FONT STYLE="font-size: 10pt"><U>Annual Performance Bonus Opportunities</U>. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>3.3.1.&#9;</B><FONT STYLE="font-size: 10pt">Effective
as of January 1, 2017, Sections 3(d) (i) through 3(d) (v) inclusively of the 2010 Restated Employment Agreement, as amended by
the 2012 Amendment, are further amended in their entirety to provide that the Annual Performance Bonus for fiscal year 2017 and
each fiscal year thereafter during the Term shall equal the amount calculated as provided in clause (A) below and be paid as provided
in clauses (B) and (C) below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 19.5pt">(A)</TD><TD>Each Annual Performance Bonus shall be equal to an amount not exceeding 300% of Base Salary for the applicable fiscal year,
one-half of which shall be earned using Company Net Revenue performance criteria established by the Compensation Committee for
the applicable fiscal year and one-half of which shall be earned using Company EBITDA performance criteria established by the Compensation
Committee for the applicable fiscal year, such criteria to be established by the Compensation Committee during the first fiscal
quarter of the relevant fiscal year for which the Annual Performance Bonus criteria are being established, after consultation with
the Executive, in a manner consistent with past practices. The terms Net Revenue and EBITDA shall have the same meaning as provided
for in Exhibit A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 91.5pt; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 19.5pt">(B)</TD><TD>That portion of the Annual Performance Bonus up to an amount equal to the first 200% of Base Salary shall be paid in cash;
any excess over 200% of Base Salary shall be paid in Restricted Stock vesting in equal quarterly installments, with the first installment
vesting on the award date and the remainder over 3 years following the award date. The number of shares of Restricted Stock, if
any, forming part of the Annual Performance Bonus shall be determined by dividing the dollar amount of the Restricted Stock portion
of the Annual Performance Bonus by the closing price of a share of the Common Stock on the first trading date immediately preceding
the date on which the Annual Performance Bonus is determined to have been earned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 19.5pt">(C)</TD><TD>The Company shall pay the cash portion and issue the Restricted Stock portion of the Annual Performance Bonus to Executive,
subject to any required tax withholding, not later than twenty-one (21) business days following the date on which the Auditors&rsquo;
final report on the Company&rsquo;s financial statements for the fiscal year for which the Annual Performance Bonus is awarded
is issued and delivered to the Company and in any event not later than April 30 in the calendar year following such fiscal year
(the &ldquo;Annual Performance Bonus Award Date.&rdquo;) Such Restricted Stock shall be issued subject to the Plan (including,
without limitation, the availability of shares reserved for issuance thereunder) and the applicable Restricted Stock Agreement,
and shall vest in equal annual installments, the first installment of which shall vest on the Annual Performance Bonus Award Date
and thereafter on January 1 in each subsequent year until the final vesting date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><B>3.4.</B></TD><TD><FONT STYLE="font-size: 10pt">The calculations necessary to determine the Restricted Stock Performance Measures and the Annual
Performance Bonus performance criteria (collectively, the &ldquo;<B>Performance Measures</B>&rdquo;) shall be made by the Compensation
Committee in its discretion, and will, absent manifest error, be conclusive and binding upon the Company and Executive. The Performance
Measures may all be adjusted in the sole discretion of the Compensation Committee to take account of extraordinary or special items,
or as otherwise may be permitted by the Plan, and the Compensation Committee also reserves the right to modify the vesting and
bonus targets and vesting and bonus percentages in the exercise of its negative discretion to take account of any extraordinary
or special items, and business acquisitions occurring during the Performance Periods and the relevant fiscal years, or as otherwise
determined by the Compensation Committee.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><B>3.5.</B></TD><TD><FONT STYLE="font-size: 10pt">Section 3(b) of the 2010 Restated Employment Agreement as amended by this Amendment Number Two
shall continue to be subject to the provisions of Sections 3(e) through 3(j) inclusively of the 2010 Restated Employment Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD><U>Medical and Dental Insurance for Executive&rsquo;s Children</U>. If Executive&rsquo;s employment by the Company terminates
as a result of Executive&rsquo;s death, the Company shall continue to pay the health and dental insurance premiums for Executive&rsquo;s
surviving children under the Company&rsquo;s health and dental insurance health plans until any such child reaches the maximum
age at which such child may be covered as a matter of law following the death of the child&rsquo;s parent.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD><B>Section 15(c).</B> All references to &ldquo;December 31, 2015&rdquo; in Section 15(c) of the 2010 Restated Employment Agreement
are stricken and replaced with &ldquo;December 31, 2020.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD><B>Section 17(a)</B>. Section 17(a) of the 2010 Employment Agreement is supplemented to provide that unless the Employment
Agreement has been terminated by Executive other than as the result of the occurrence of a Good Reason Event or by the Company
as the result of the occurrence of a For Cause Event, if the Term or Executive&rsquo;s employment by the Company does not continue
after December 31, 2020, the Performance Shares and any Restricted Stock issued in partial payment of an Annual Performance Bonus
shall continue to vest in accordance with and subject to the vesting conditions provided for in Section 3 of this Amendment Number
Two.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD><B>Employment Agreement in Full Force and Effect</B>. The Employment Agreement, as expressly amended by this Amendment, remains
in full force and effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BALANCE OF THIS PAGE DELIBERATELY LEFT BLANK</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IN WITNESS WHEREOF, the undersigned have duly executed this
Agreement as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">THE COMPANY:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">JAKKS PACIFIC, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">/s/</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0; text-indent: 0">Name: </TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid; padding: 0; text-indent: 0">Joel Bennett</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Title:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">Executive Vice President Finance</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">EXECUTIVE:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">/s/</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">Stephen G. Berman</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Amendment Number Two to Amended Employment
Agreement Between</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Stephen G. Berman &ldquo;Executive&rdquo;)
and JAKKS Pacific, Inc. (the &ldquo;Company&rdquo;)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESTRICTED STOCK PERFORMANCE MEASURES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Exhibit A to the Amended Employment Agreement between Executive
and JAKKS sets forth the Restricted Stock Performance Measures that will be used to determine vesting of each Annual Restricted
Shares Grant made to Executive. Capitalized terms not otherwise defined in this Exhibit &ldquo;A&rdquo; are used below with the
meanings ascribed thereto in Amendment Number Two to the Amended Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1)</TD><TD><U>Definitions</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">a)&#9;&ldquo;<I>Closing Share Value</I>&rdquo; means
in the case of the Company, the closing price of a share of the Company&rsquo;s Common Stock, and in the case of the Russel 2000
Index, the price reported as the closing price of the companies in the Russel 2000 Index, in both cases, on the last trading day
of a Restricted Stock Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">b)&#9;&ldquo;<I>EBITDA</I>&rdquo; means the earnings
before interest, taxes, depreciation and amortization of a company for an entire fiscal year calculated in accordance with the
company&rsquo;s audited financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">c)&#9;&ldquo;<I>Index</I>&rdquo; means the stock
market index known as the Russel 2000 Index, or if the Russel 2000 Index ceases to be published, then such other stock market index
(such as, but not limited to, the S&amp;P Small Cap 600 Index) that the Compensation Committee determines, with the advice of its
independent compensation consultant, and after receiving input from the Executive, should be used as the Index for determining
the Restricted Stock Performance Measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">d)&#9;&ldquo;<I>Opening Share Value</I>&rdquo; means
in the case of the Company, the closing price of a share of the Company&rsquo;s Common Stock, and in the case of the Russel 2000
Index, the price reported as the closing price of the companies in the Russel 2000 Index, in both cases, on the first trading day
of a Restricted Stock Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">e)&#9;&ldquo;<I>Peer Group Companies</I>&rdquo; means
those public companies whose shares of stock are traded on a recognized securities exchange that the Compensation Committee, with
the advice of its independent compensation consultant, and after receiving input from the Executive, has chosen to comprise the
group of companies used as a basis for comparison of the Company&rsquo;s Net Revenue Growth and EBITDA Growth in each Restricted
Stock Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">f)&#9;&ldquo;<I>Restricted Stock Performance Measures</I>&rdquo;
means the TSR Metric, Net Revenue Growth Metric and EBITDA Metric as each such term is defined Section 2 of this Exhibit &ldquo;A&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">g)&#9;&ldquo;<I>Restricted Stock Performance Period</I>&rdquo;
with respect to each Annual Restricted Shares Grant means the three (3) year period commencing on its Issuance Date and ending
on December 31 of the third calendar year following such Issuance Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">h)&#9;&ldquo;<I>TSR</I>&rdquo; means the total shareholder
return calculated by dividing (i) the Closing Share Value plus any dividends paid by (ii) the Opening Share Value. The TSR of the
Company shall be adjusted to give appropriate effects to any stock splits, reverse stock splits and similar transactions, as determined
by the Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2)</TD><TD>Vesting of the Performance Shares during each Restricted Stock Performance Period shall be determined by three performance
metrics: TSR for the Company as compared to TSR for the Index during the Restricted Stock Performance Period (the &ldquo;<B>TSR
Metric</B>&rdquo;); the percentile performance of the Company relative to the Peer Group Companies measured by the Net Revenue
Growth of the Company as compared to Net Revenue Growth of the Peer Group Companies during the Performance Period (the &ldquo;<B>Net
Revenue Growth Metric</B>&rdquo;); and the percentile performance of the Company relative to the Peer Group Companies measured
by the EBITDA Growth of the Company as compared to EBITDA Growth of the Peer Group Companies during the Performance Period (the
&ldquo;<B>EBITDA Growth Metric</B>&rdquo;.)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">a)&#9;Each Annual Restricted Shares Grant shall be
divided into the following three Tranches: one Tranche shall be equal to fifty percent (50%) of the Annual Restricted Shares Grant,
and vesting of such Tranche shall be determined by the TSR Metric (the &ldquo;<B>TSR Tranche</B>&rdquo;); one Tranche shall be
equal to twenty-five percent (25%) of the Annual Restricted Shares Grant, and vesting of such Tranche shall be determined by the
Net Revenue Growth Metric (the &ldquo;<B>Net Revenue Tranche</B>&rdquo;), and the third Tranche shall be equal to twenty-five percent
(25%) of the Annual Restricted Shares Grant, and vesting of such Tranche shall be determined by the EBITDA Growth Metric (the &ldquo;<B>EBITDA
Tranche</B>&rdquo;.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">b)&#9;The number of Performance Shares and the percentage
of Performance Shares in each Tranche that vest shall be determined as set forth in the table below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="text-align: center; vertical-align: middle">
    <TD STYLE="width: 25%; border: Black 1pt solid; padding: 2.5pt"><FONT STYLE="font-size: 10pt">Percentage of Performance Shares in a Tranche that Vest According to the Applicable Performance Measure</FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt"><FONT STYLE="font-size: 10pt">TSR Tranche (50% of Annual Restricted Shares Grant)</FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt"><FONT STYLE="font-size: 10pt">Net Revenue Tranche (25% of Annual Restricted Shares Grant)</FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">EBITDA Tranche (25% of Annual Restricted Shares Grant)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Company&rsquo;s TSR is 20% or more above of Index TSR</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">90<SUP>th</SUP> percentile or more using Net Revenue Metric</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">90<SUP>th</SUP> percentile or more using EBITDA Metric</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">75%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Company&rsquo;s TSR is 10%-19% TSR above&nbsp;&nbsp;Index TSR </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">75<SUP>th</SUP>
    - 89<SUP>th</SUP> perce ntile using Net Revenue Metric</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">75<SUP>th</SUP> - 89<SUP>th</SUP> percentile using EBITDA Metric</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">50%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Company&rsquo;s TSR is Equal to Index TSR</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">50<SUP>th</SUP> &ndash; 74<SUP>th</SUP> Percentile using Net Revenue Metric</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">50<SUP>th</SUP> &ndash; 74<SUP>th</SUP> Percentile using EBITDA Metric</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">25% (threshold)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Company&rsquo;s TSR is 10% or less below Index TSR</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">25<SUP>th &ndash; </SUP>&nbsp;49<SUP>th</SUP> Percentile using Net Revenue Metric</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">25<SUP>th &ndash; </SUP>&nbsp;49<SUP>th</SUP> Percentile using EBITDA Metric</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">0%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Company&rsquo;s TSR is more than 10% below Index TSR</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">Less than 25<SUP>th</SUP> Percentile using Net Revenue Metric</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.5pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">Less than 25<SUP>th</SUP> Percentile using Net Revenue Metric</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;<B>&nbsp;</B></P>

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