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Lifetime Brands, Inc. – ‘10-K’ for 12/31/22 – ‘EX-10.18’

On:  Thursday, 3/9/23, at 5:21pm ET   ·   For:  12/31/22   ·   Accession #:  1628280-23-7371   ·   File #:  0-19254

Previous ‘10-K’:  ‘10-K’ on 3/9/22 for 12/31/21   ·   Next & Latest:  ‘10-K’ on 3/12/24 for 12/31/23   ·   34 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/09/23  Lifetime Brands, Inc.             10-K       12/31/22  123:13M                                    Workiva Inc Wde… FA01/FA

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.85M 
 2: EX-10.18    Material Contract                                   HTML     36K 
 3: EX-10.26    Material Contract                                   HTML     36K 
 4: EX-10.35    Material Contract                                   HTML     37K 
 5: EX-10.45    Material Contract                                   HTML     68K 
 6: EX-10.46    Material Contract                                   HTML     41K 
 7: EX-21.1     Subsidiaries List                                   HTML     36K 
 8: EX-23.1     Consent of Expert or Counsel                        HTML     32K 
 9: EX-23.2     Consent of Expert or Counsel                        HTML     33K 
13: EX-99.1     Miscellaneous Exhibit                               HTML     36K 
10: EX-31.1     Certification -- §302 - SOA'02                      HTML     35K 
11: EX-31.2     Certification -- §302 - SOA'02                      HTML     35K 
12: EX-32.1     Certification -- §906 - SOA'02                      HTML     34K 
19: R1          Cover Page                                          HTML     95K 
20: R2          Audit Information                                   HTML     37K 
21: R3          Consolidated Balance Sheets                         HTML    132K 
22: R4          Consolidated Balance Sheets (Parenthetical)         HTML     55K 
23: R5          Consolidated Statements of Operations               HTML    104K 
24: R6          Consolidated Statements of Comprehensive Loss       HTML     62K 
25: R7          Consolidated Statements of Comprehensive Loss       HTML     40K 
                (Parenthetical)                                                  
26: R8          Consolidated Statements of Stockholders' Equity     HTML    114K 
27: R9          Consolidated Statements of Stockholders' Equity     HTML     34K 
                (Parenthetical)                                                  
28: R10         Consolidated Statements of Cash Flows               HTML    139K 
29: R11         Significant Accounting Policies                     HTML     72K 
30: R12         Revenue                                             HTML     61K 
31: R13         Acquisitions                                        HTML     45K 
32: R14         Leases                                              HTML     71K 
33: R15         Sale of Accounts Receivable                         HTML     41K 
34: R16         Equity Investments                                  HTML     77K 
35: R17         Goodwill and Intangible Assets                      HTML    115K 
36: R18         Debt                                                HTML     67K 
37: R19         Derivatives                                         HTML     73K 
38: R20         Capital Stock                                       HTML    146K 
39: R21         Loss Per Common Share                               HTML     50K 
40: R22         Income Taxes                                        HTML    117K 
41: R23         Business Segments                                   HTML     94K 
42: R24         Commitments and Contingencies                       HTML     52K 
43: R25         Retirement Plans                                    HTML     40K 
44: R26         Other                                               HTML    125K 
45: R27         Valuation and Qualifying Accounts                   HTML     68K 
46: R28         Significant Accounting Policies (Policies)          HTML    128K 
47: R29         Revenue (Tables)                                    HTML     55K 
48: R30         Acquisitions (Tables)                               HTML     44K 
49: R31         Leases (Tables)                                     HTML     73K 
50: R32         Equity Investments (Tables)                         HTML     76K 
51: R33         Goodwill and Intangible Assets (Tables)             HTML    109K 
52: R34         Debt (Tables)                                       HTML     57K 
53: R35         Derivatives (Tables)                                HTML     71K 
54: R36         Capital Stock (Tables)                              HTML    145K 
55: R37         Loss Per Common Share (Tables)                      HTML     49K 
56: R38         Income Taxes (Tables)                               HTML    119K 
57: R39         Business Segments (Tables)                          HTML     93K 
58: R40         Commitments and Contingencies (Tables)              HTML     38K 
59: R41         Retirement Plans (Tables)                           HTML     38K 
60: R42         Other (Tables)                                      HTML    135K 
61: R43         SIGNIFICANT ACCOUNTING POLICIES - Additional        HTML     93K 
                Information (Details)                                            
62: R44         REVENUE - Additional Information (Details)          HTML     46K 
63: R45         REVENUE - Summary of Company's Revenue              HTML     55K 
                Disaggregated by Geographic Region and Revenue                   
                (Details)                                                        
64: R46         ACQUISITIONS - Additional Information (Details)     HTML     86K 
65: R47         LEASES - Components of Lease Cost (Details)         HTML     39K 
66: R48         LEASES - Narrative (Details)                        HTML     46K 
67: R49         LEASES - Supplemental Cash Flow Information         HTML     42K 
                (Details)                                                        
68: R50         LEASES - Aggregate Future Lease Payments (Details)  HTML     51K 
69: R51         LEASES - Average Lease Terms and Discount Rates     HTML     36K 
                (Details)                                                        
70: R52         SALE OF ACCOUNTS RECEIVABLE - Additional            HTML     47K 
                Information (Details)                                            
71: R53         EQUITY INVESTMENTS - Additional Information         HTML     87K 
                (Details)                                                        
72: R54         EQUITY INVESTMENTS - Summary of Proportionate       HTML     40K 
                Share of Vasconia's Net Income Translated from MXN               
                to USD (Details)                                                 
73: R55         EQUITY INVESTMENTS - Schedule of Amounts Due to     HTML     46K 
                and Due from Vasconia (Details)                                  
74: R56         EQUITY INVESTMENTS - Summarized Statement of        HTML     65K 
                Income Information for Vasconia in USD and MXN                   
                (Details)                                                        
75: R57         EQUITY INVESTMENTS - Summarized Balance Sheet       HTML     67K 
                Information for Vasconia in USD and MXN (Details)                
76: R58         GOODWILL AND INTANGIBLE ASSETS - Components of      HTML     88K 
                Intangible Assets (Details)                                      
77: R59         GOODWILL AND INTANGIBLE ASSETS - Intangible Assets  HTML     74K 
                (Details)                                                        
78: R60         GOODWILL AND INTANGIBLE ASSETS - Weighted Average   HTML     42K 
                Amortization Period for Finite Lived Intangible                  
                Assets (Details)                                                 
79: R61         GOODWILL AND INTANGIBLE ASSETS - Estimated          HTML     43K 
                Amortization Expense (Details)                                   
80: R62         GOODWILL AND INTANGIBLE ASSETS - Additional         HTML     58K 
                Information (Details)                                            
81: R63         DEBT - Additional Information (Details)             HTML    126K 
82: R64         DEBT - Total Availability Under ABL Agreement       HTML     43K 
                (Details)                                                        
83: R65         DEBT - Current and Non Current Portions of Term     HTML     48K 
                Loan (Details)                                                   
84: R66         DERIVATIVES - Additional Information (Details)      HTML     56K 
85: R67         DERIVATIVES - Fair Values of Derivative Financial   HTML     52K 
                Instruments Included in Consolidated Balance                     
                Sheets (Details)                                                 
86: R68         DERIVATIVES - Gains and Losses Related to           HTML     42K 
                Derivative Financial Instruments Designated as                   
                Hedging Instruments (Details)                                    
87: R69         DERIVATIVES - Gains and Losses Related to           HTML     41K 
                Derivative Financial Instruments Not Designated as               
                Hedging Instruments (Details)                                    
88: R70         CAPITAL STOCK - Cash Dividends Declared (Details)   HTML     37K 
89: R71         CAPITAL STOCK - Additional Information (Details)    HTML    116K 
90: R72         CAPITAL STOCK - Summary of Stock Option (Details)   HTML     81K 
91: R73         CAPITAL STOCK - Fair Value Stock Options at Grant   HTML     41K 
                Date using Weighted-Average Assumption (Details)                 
92: R74         CAPITAL STOCK - Summary of Restricted Stock         HTML     62K 
                Activity (Details)                                               
93: R75         CAPITAL STOCK - Summary of Performance-based Award  HTML     67K 
                Activity (Details)                                               
94: R76         Stock Compensation (Details)                        HTML     54K 
95: R77         CAPITAL STOCK - Stock Compensation Expense          HTML     43K 
                (Details)                                                        
96: R78         LOSS PER COMMON SHARE - Calculations of Basic and   HTML     70K 
                Diluted (Loss) Income per Common Share (Details)                 
97: R79         INCOME TAXES - Components of Income Before Income   HTML     41K 
                Taxes. Equity in Earnings and Extra Ordinary Items               
                (Details)                                                        
98: R80         INCOME TAXES - Provision for Income Taxes (Before   HTML     48K 
                Equity in Earnings) (Details)                                    
99: R81         INCOME TAXES - Additional Information (Details)     HTML     49K 
100: R82         INCOME TAXES - Significant Components of Net        HTML     73K  
                Deferred Income Tax Asset (Liability) (Details)                  
101: R83         INCOME TAXES - Difference between Provision for     HTML     66K  
                Income Taxes and Amount Computed by Applying                     
                Federal Statutory Rates (Details)                                
102: R84         INCOME TAXES - Estimated Values of Gross Uncertain  HTML     39K  
                Tax Positions (Details)                                          
103: R85         BUSINESS SEGMENTS - Additional Information          HTML     34K  
                (Details)                                                        
104: R86         BUSINESS SEGMENTS - Segment Reporting Information   HTML     80K  
                (Details)                                                        
105: R87         BUSINESS SEGMENTS - Segment Reporting Information   HTML     46K  
                Additional Information (Details)                                 
106: R88         BUSINESS SEGMENTS - Net Sales and Long-Lived        HTML     42K  
                Assets by Major Geographic Locations (Details)                   
107: R89         COMMITMENTS AND CONTINGENCIES - Future Minimum      HTML     45K  
                Royalties Payable (Details)                                      
108: R90         COMMITMENTS AND CONTINGENCIES - Additional          HTML     52K  
                Information (Details)                                            
109: R91         RETIREMENT PLANS - Additional Information           HTML     40K  
                (Details)                                                        
110: R92         RETIREMENT PLANS - Future Retirement Benefit        HTML     44K  
                Payments (Details)                                               
111: R93         OTHER - Components of Inventory (Details)           HTML     42K  
112: R94         OTHER - Property and Equipment (Details)            HTML     53K  
113: R95         OTHER - Additional Information (Details)            HTML     34K  
114: R96         OTHER - Long term liabilities (Details)             HTML     48K  
115: R97         OTHER - Accrued Expenses (Details)                  HTML     59K  
116: R98         OTHER - Supplemental Cash Flow Information          HTML     37K  
                (Details)                                                        
117: R99         OTHER - Components of Accumulated Other             HTML     67K  
                Comprehensive Loss, Net (Details)                                
118: R100        Valuation and Qualifying Accounts [Schedule]        HTML     46K  
                Valuation and Qualifying Accounts (Details)                      
121: XML         IDEA XML File -- Filing Summary                      XML    217K  
119: XML         XBRL Instance -- lcut-20221231_htm                   XML   3.37M  
120: EXCEL       IDEA Workbook of Financial Reports                  XLSX    232K  
15: EX-101.CAL  XBRL Calculations -- lcut-20221231_cal               XML    272K 
16: EX-101.DEF  XBRL Definitions -- lcut-20221231_def                XML   1.07M 
17: EX-101.LAB  XBRL Labels -- lcut-20221231_lab                     XML   2.49M 
18: EX-101.PRE  XBRL Presentations -- lcut-20221231_pre              XML   1.56M 
14: EX-101.SCH  XBRL Schema -- lcut-20221231                         XSD    259K 
122: JSON        XBRL Instance as JSON Data -- MetaLinks              637±  1.01M  
123: ZIP         XBRL Zipped Folder -- 0001628280-23-007371-xbrl      Zip    746K  


‘EX-10.18’   —   Material Contract


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Exhibit 10.18
FOURTH AMENDMENT TO THE AMENDED AND RESTATED
EMPLOYMENT AGREEMENT

This Fourth Amendment (this “Amendment”), dated as of March 8, 2023 by and between Lifetime Brands, Inc., a Delaware Corporation (the “Company”) and Laurence Winoker (the “Executive”) shall be effective as of January 1, 2023 (the “Amendment Effective Date”) and amends the Amended and Restated Employment Agreement, dated as of September 10, 2015 between the Company and the Executive, as amended from time to time (the “Employment Agreement”).

WHEREAS, pursuant to Section 14(a) of the Employment Agreement, the Company wishes to further amend the Employment Agreement to reflect a revised base salary as of the Amendment Effective Date.

NOW, THEREFORE, in consideration of Executive’s continued employment with the Company and other good and sufficient consideration set forth herein, the Company and the Executive hereby agree as follows:

1.Section 3(a) of the Employment Agreement shall be deleted in its entirety and replaced with the following:

“(a) Salary. In consideration of the services rendered by the Executive under this Agreement, the Company shall pay the Executive a base salary (the “Base Salary”) at the rate of $446,250.00 per calendar year. The Base Salary shall be paid in such installments and at such times as the Company pays its regularly salaried employees.”

2.The Employment Agreement, as amended by this Amendment, constitutes the entire and exclusive agreement between the parties with respect to the subject matter hereof. All previous discussions and agreements with respect to the subject matter of this Amendment are superseded by this Amendment.

3.Except as expressly amended hereby, all the terms, conditions, and provisions of the Employment Agreement shall remain in full force and effect. This Amendment shall form a part of the Employment Agreement for all purposes.

4.This Amendment may be executed in counterparts and by facsimile or other electronic means, including by portable document format (PDF), each of which shall be deemed to have the same legal effect as an original and together shall constitute one and the same instrument.

5.The Company represents and warrants that it has the full power and authority to enter into this Amendment.

[The remainder of this page is intentionally left blank]





Exhibit 10.18

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

LIFETIME BRANDS, INC.
By: /s/ Robert B. Kay Name: Robert B. Kay Title: Chief Executive Officer

EXECUTIVE
/s/ Laurence Winoker Laurence Winoker
2

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/9/238-K
3/8/23
1/1/23
For Period end:12/31/224
9/10/158-K
 List all Filings 


3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/12/24  Lifetime Brands, Inc.             10-K       12/31/23  124:12M                                    Workiva Inc Wde… FA01/FA
 8/03/23  Lifetime Brands, Inc.             10-Q        6/30/23   86:8.1M                                   Workiva Inc Wde… FA01/FA
 5/10/23  Lifetime Brands, Inc.             10-Q        3/31/23   85:7.9M                                   Workiva Inc Wde… FA01/FA


31 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/03/23  Lifetime Brands, Inc.             8-K:1,2,9  12/29/22   11:1.9M                                   Workiva Inc Wde… FA01/FA
11/03/22  Lifetime Brands, Inc.             10-Q        9/30/22   87:9.3M                                   Workiva Inc Wde… FA01/FA
 8/29/22  Lifetime Brands, Inc.             8-K:1,9     8/26/22   11:2.6M                                   Workiva Inc Wde… FA01/FA
 8/04/22  Lifetime Brands, Inc.             10-Q        6/30/22   87:8.9M                                   Workiva Inc Wde… FA01/FA
 4/28/22  Lifetime Brands, Inc.             DEF 14A     6/23/22    1:2.7M                                   Donnelley … Solutions/FA
12/29/21  Lifetime Brands, Inc.             8-K:1,9    12/28/21   11:2.3M                                   Workiva Inc Wde… FA01/FA
 3/10/21  Lifetime Brands, Inc.             10-K       12/31/20  121:13M                                    Workiva Inc Wde… FA01/FA
 2/05/21  Lifetime Brands, Inc.             8-K:5,9     2/01/21   14:199K                                   Workiva Inc Wde… FA01/FA
 5/21/20  Lifetime Brands, Inc.             10-Q        3/31/20   87:7.8M                                   Workiva Inc Wde… FA01/FA
 4/29/20  Lifetime Brands, Inc.             DEF 14A     6/25/20    1:2.6M                                   Donnelley … Solutions/FA
 3/13/20  Lifetime Brands, Inc.             10-K       12/31/19  122:15M                                    Workiva Inc Wde… FA01/FA
10/15/19  Lifetime Brands, Inc.             8-K:1,5,9  10/11/19    7:94K                                    Donnelley … Solutions/FA
 6/28/19  Lifetime Brands, Inc.             8-K:5,7,9   6/27/19    3:151K                                   Donnelley … Solutions/FA
11/15/18  Lifetime Brands, Inc.             8-K:1,9    11/09/18    2:288K                                   Donnelley … Solutions/FA
 6/29/18  Lifetime Brands, Inc.             8-K:5,7,9   6/28/18    3:133K                                   Donnelley … Solutions/FA
 3/06/18  Lifetime Brands, Inc.             8-K:1,2,3,5 2/28/18    6:2.2M                                   Donnelley … Solutions/FA
12/29/17  Lifetime Brands, Inc.             8-K:1,7,9  12/22/17    7:1.2M                                   Donnelley … Solutions/FA
11/09/17  Lifetime Brands, Inc.             10-Q        9/30/17   72:4.4M                                   Donnelley … Solutions/FA
 6/23/17  Lifetime Brands, Inc.             8-K:5,7,9   6/22/17    4:173K                                   Donnelley … Solutions/FA
 5/09/17  Lifetime Brands, Inc.             10-Q        3/31/17   64:4.5M                                   Donnelley … Solutions/FA
12/08/16  Lifetime Brands, Inc.             8-K:5,9    12/02/16    2:265K                                   Donnelley … Solutions/FA
10/04/16  Lifetime Brands, Inc.             8-K:1,2,9   9/30/16    2:213K                                   Donnelley … Solutions/FA
 6/10/16  Lifetime Brands, Inc.             8-K:5,7,9   6/09/16    3:58K                                    Donnelley … Solutions/FA
 1/28/16  Lifetime Brands, Inc.             8-K:1,5,9   1/26/16    3:326K                                   Donnelley … Solutions/FA
 9/16/15  Lifetime Brands, Inc.             8-K:5,9     9/10/15    2:91K                                    Donnelley … Solutions/FA
 8/10/15  Lifetime Brands, Inc.             10-Q        6/30/15   64:3.8M                                   Donnelley … Solutions/FA
 3/31/09  Lifetime Brands, Inc.             10-K       12/31/08   10:1.9M                                   Troutman Sanders LLP
 6/12/07  Lifetime Brands, Inc.             8-K:1,9     6/11/07    2:251K                                   Troutman Sanders LLP
11/09/06  Lifetime Brands, Inc.             10-Q        9/30/06    5:434K                                   Troutman Sanders LLP
 5/15/06  Lifetime Brands, Inc.             8-K:1,9     5/10/06    2:148K                                   Troutman Sanders LLP
 3/15/06  Lifetime Brands, Inc.             10-K       12/31/05    7:250K                                   Troutman Sanders LLP
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Filing Submission 0001628280-23-007371   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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