SEPARATION AGREEMENT AND RELEASE OF CLAIMS
THIS AGREEMENT is made and entered into by and between NexCen Brands, Inc. (the
“Company”) and Sue J. Nam (the “Executive”).
All capitalized terms used herein unless otherwise defined in this Agreement shall have the meaning
assigned to them in the Employment Agreement (as defined below).
WHEREAS, the Company and Executive entered into an employment agreement made as of August 29,
2007, Amendment No. 1 to the employment agreement as of June 30, 2008, Amendment No. 2 as of
September 26, 2008 and Amendment No. 3 as of June 30, 2009 (collectively, with any exhibits attached
thereto, the “Employment Agreement”);
WHEREAS, on July 30, 2010 the Company completed the sale of substantially all of its assets under the
Acquisition Agreement, dated May 13, 2010, by and between the Company and Global Franchise Group, LLC
(the “Sales Transaction”);
WHEREAS, effective as of August 17, 2010 (“Termination Date”), Executive will be terminated by the
Company without Cause based upon a Change in Control, and Executive will cease to hold any position as an
officer of the Company or any Subsidiary;
WHEREAS, Executive desires to receive separation pay and benefits, and the Company is willing to
provide separation pay and benefits on the condition that Executive enters into this Agreement.
THEREFORE, in consideration of the mutual agreements and promises set forth within this Agreement,
the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows:
In consideration of Executive's agreements and promises set forth below, the Company will provide to
Executive the following separation payments in accordance with the Employment Agreement:
Base Salary, Bonus and Accrued Paid Time Off. The Company shall pay to Executive any
unpaid Base Salary and Quarterly Bonus (prorated based upon the number of days that the
Executive is employed during the third calenda