Exhibit 10.1

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

AMENDED AND RESTATED STIPULATION AND

AGREED ORDER REGARDING MEDIATED AGREEMENT

The above-captioned debtors and debtors-in-possession (collectively, the “Debtors”) and together with the following parties (each, a “Party” and, together with the Debtors, the “Parties”):

by and through their undersigned counsel, hereby enter into this stipulation and agreed order (this “Stipulation and Agreed Order”):

¹ A complete list of the Debtors in the Chapter 11 Cases and the last four digits of each Debtor’s taxpayer identification number (if applicable) may be obtained on the website of the Debtors’ claims and noticing agent at https://omniagentsolutions.com/FATBrands-TwinHospitality. The Debtors’ mailing address for purposes of the Chapter 11 Cases is 9720 Wilshire Blvd., Suite 500, Beverly Hills, CA 90212.

WHEREAS, on January 26, 2026 (the “Petition Date”), the Debtors filed voluntary petitions thereby commencing the chapter 11 cases under the jointly administered caption of In re Fat Brands Inc., et al., Case Number 26-90126 (ARP) (collectively, the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Southern District of Texas (the “Court”);

WHEREAS, on the Petition Date, each of FAT Brands, Twin Hospitality, and certain other Debtors (collectively, the “SC Entities”) formed special committees of its board (the “Special Committees”) and appointed Neal Goldman and Patrick Bartels (collectively, the “Special Committee Directors”) to serve as the members of the Special Committees;

WHEREAS, following discussions and an agreement that mediation may be an efficient and effective mechanism to consensually resolve certain issues relating to the Chapter 11 Cases, including, among other items, the Emergency Motion of Debtors for Entry of Interim and Final Orders (I) Authorizing Debtors to Use Cash Collateral; (II) Granting Adequate Protection for the Use of Cash Collateral; (III) Scheduling a Final Hearing; and (IV) Granting Related Relief [Docket No. 18]; The Ad Hoc Group of Securitization Noteholders’ Motion for an Order Appointing a Chapter 11 Trustee for the Securitization Debtors [Docket No. 63] (the “Trustee Motion”); The Ad Hoc Group of Securitization Noteholders’ Emergency Motion for an Order (I) Temporarily Suspending Andrew Wiederhorn as Chief Executive Officer, (II) Vesting Authority in the Debtors’ Special Committee, and (III) Granting Related Relief [Docket No. 182] (the “Suspension Motion”); and debtor-in-possession financing for the Chapter 11 Cases, the Debtors and the WBS Ad Hoc Group agreed to a proposed form of order providing for non-binding mediation before Judge Marvin Isgur (the “Mediator”), which the Debtors filed on January 28, 2026 [Docket No. 92];

WHEREAS, on January 28, 2026, the Court entered the Stipulated Mediation Order Appointing Judge Marvin Isgur as Mediator [Docket No. 105], which provided for non-binding mediation before the Mediator (the “Mediation”), with an outside termination date of February 19, 2026, subject to extension upon agreement;

WHEREAS, on February 6, 2026, the Office of the United States Trustee for the Southern District of Texas appointed the Committee [Docket No. 186];

WHEREAS, on February 13, 2026, the Court entered the Stipulated Order Joining Additional Parties to the Mediation [Docket No. 246], which joined the Committee as a party to the Mediation, and subsequently entered orders extending the termination date of the Mediation to March 3, 2026, and thereafter to March 9, 2026, and thereafter to March 17, 2026, and thereafter to March 24, 2026 [Docket Nos. 279, 335, 406, and 434];

WHEREAS, on March 3, 2026, FAT Brands filed the Application of Debtor FAT Brands, Inc. for Entry of an Order Authorizing the Employment and Retention of Moelis & Company LLC as its Financial Advisor, Investment Banker and Placement Agent Effective as of February 1, 2026 [Docket No. 352];

WHEREAS, on March 11, 2026, Judge Isgur delivered a final Mediation proposal to the Parties to which the Parties agreed in principle (the “Final Mediation Proposal”) and is memorialized in this Stipulation and Agreed Order;

WHEREAS, concurrently herewith, the WBS Ad Hoc Group has proposed, and the Debtors intend to seek, approval of the DIP Facility (as defined below);

NOW THEREFORE, in consideration of the foregoing recitals, which are incorporated into this Stipulation and Agreed Order, the Parties hereby stipulate and agree as follows:

1. Conditions Precedent. Performance under this Stipulation and Agreed Order is conditioned on each of the following having occurred (the date on which such conditions have occurred, the “Settlement Effective Date”):

2. DIP Facility. Subject to the occurrence of the Settlement Effective Date, the following disbursements shall be made from the DIP Facility:

For the avoidance of doubt, nothing herein shall be deemed to constitute consent by the Committee to the Interim DIP Order or the DIP Facility, and all of the Committee’s rights to object to such Interim DIP Order and DIP Facility are fully preserved.

For purposes of clarity, all agreements between the Debtors and Executive will be deemed terminated on the Settlement Effective Date, including, without limitation, all employment or consulting agreements between the Parties, and the Governance Agreement Payments shall be in full satisfaction of any and all liabilities of any Debtor to the Executive thereunder; provided, however, that such termination will not affect any claims for indemnification, exculpation, or similar provisions in favor of the Executive arising from the agreements or instruments listed on Schedule 1 to this Stipulation and Agreed Order for matters relating to the period prior to the Settlement Effective Date; provided, further, that this Stipulation and Agreed Order shall not affect the priority of any indemnification claims, and no such claims shall be afforded administrative status based in whole or in part on this Stipulation and Agreed Order. The Executive’s compensation as an employee of the Debtors shall cease as of the Settlement Effective Date. The Parties acknowledge that the Governance Agreement Payments are not payment for services other than Executive’s obligation to cooperate as set forth herein.

3. Corporate Governance of the Debtors. All non-Special Committee Directors of the Debtor entities shall resign effective as of the date of the Settlement Effective Date (the “Resignation”), and sole and exclusive authority to manage the affairs of FAT Brands, Twin Hospitality, and their subsidiaries shall be vested in the Special Committees and any individual selected by the Special Committees to serve as the Chief Executive Officer (the “New Chapter 11 CEO”) of the Debtors (which may be the Debtors’ Chief Restructuring Officer or Deputy Chief Restructuring Officer (together with the Chief Restructuring Officer, the “CROs”), a business executive, or any other person selected by the Special Committees, which person will be subject to approval by the WBS Ad Hoc Group). For the avoidance of doubt, the Resignation shall not affect the departing-directors’ access to directors and officers insurance coverage for acts through the date of the Resignation or rights of indemnification and there shall be no termination, revocation, amendment, or modification of any directors and officers insurance coverage or rights of indemnification that existed as of the Settlement Effective Date that would in any way adversely affect the rights of the resigning members of the board of directors, and notwithstanding section 12 hereof, each of whom shall be an intended third-party beneficiary of this provision. In the event that the New Chapter 11 CEO is an individual other than the Debtors’ CROs, the CROs’ roles and responsibilities shall continue, subject to the oversight of the Special Committees and coordination with the New Chapter 11 CEO.

4. Leave of Absence. The Executive shall take a temporary leave of absence as follows:

(ii)

except as permitted under this Stipulation and Agreed Order or as, otherwise authorized by the New Chapter 11 CEO or the Debtors’ CROs in writing, as set forth in the following subparagraph, during the Executive’s leave of absence, the Executive shall be completely “walled off” of all decisions, operations and information of the Debtors. The Executive shall be prohibited from communicating, directly or indirectly with anyone about the Debtors, the Chapter 11 Cases, or the Debtors’ restaurants or the franchise operations other than as may be required to formulate and submit a bid for all or part of the Debtors’ assets; provided, however, that any such communications shall be subject to (a) the terms of a confidentiality agreement between the Executive and the Debtors and (b) the bidding procedures governing any sale of all or substantially all of the Debtors’ assets; provided, further, however, that any communication regarding the Debtors or the Chapter 11 Cases (including the sale process) between the Executive and any party whom the Debtors have a material business relationship (including any officer, director, employee, customer, vendor, supplier, franchisee, debtholder, or stockholder of the Debtors) must (x) be approved in writing by the New Chapter 11 CEO or a CRO and (y) any such communication must be made through the New Chapter 11 CEO or a CRO. The Executive shall not participate in any decisions by any of the Debtors and shall not influence or attempt to influence any actions by any Debtor or the Special Committees; and

5. Additional Departures. Concurrent with the Settlement Effective Date, the Debtors shall terminate the employment of the Executive’s family members who are employed by the Debtors (including, without limitation, Taylor Wiederhorn, Thayer Wiederhorn, and Mason Wiederhorn) (collectively, the “Executive Family Members”); provided, that such individuals shall be subject to the same terms and conditions set forth herein for the Executive in this Section 4(ii)-(iii), and their access to the Debtors’ premises shall be limited to the Subleased Premises; provided further, that the Executive Family Members shall receive all accrued compensation through the date of such termination in full satisfaction of any and all liabilities of any Debtor to the Executive Family Members; provided, however, that all rights and claims of the Debtors, the Committee, and any other party against the Executive Family Members, including with respect to such compensation, are fully preserved.

6. Emails; Access to Documents. The Debtors shall, as soon as reasonably practicable following the Settlement Effective Date, provide the Executive and the Executive Family Members with an electronic copy of all their emails that reside, as of such date, within any computer systems owned or controlled by the Debtors. Until an electronic copy of such emails is provided, the Debtors shall provide the Executive and the Executive Family Members with read-only access to the Executive’s and the Executive Family Members’ existing (as of the Settlement Effective Date) emails. Within five (5) business days of the Settlement Effective Date, the Executive and the Executive Family Members shall (x) surrender any Debtor-owned computers and electronic communication device and (y) not have any further access to any other computers, or other electronic systems owned or controlled by the Debtors. Further as of the Settlement Effective Date, the Debtors shall revoke all sending and receiving privileges associated with the Executive’s and Executive Family Members’ Debtor/Company email accounts as of such date and will set up a “bounceback” message requesting that: (a) any email addressed to the Executive and Executive Family Members on account of non-Debtor/Company related matters be sent to the Executive and Executive Family Members’ new email addresses, or (b) any emails on account of Debtor/Company related matters be sent to the New Chapter 11 CEO’s and the CROs’ email addresses. Upon the Executive’s or an Executive Family Member’s request, the Debtors shall provide the Executive or such Executive Family Member with access to documents as are reasonably necessary in connection with Executive’s or such Executive Family Member’s defense of any lawsuits, claims or proceedings brought against Executive or such Executive Family Member to the extent that such documents were created prior to the Settlement Effective Date. For the avoidance of doubt, the Debtors will retain possession, custody, and control over any Debtor-owned computers and all electronic data, including emails stored on each such computer, shall clone such computers as of the Settlement Effective Date, and shall not alter or delete any electronic data on such computers or any clones thereof. Nothing in this section 6, nor any documents shared pursuant hereto, shall be deemed to constitute a waiver of any applicable privileges or protections held by either the Executive or the Debtors.

7. Consequences of Breach by the Executive. If the Special Committees determine that the Executive is in breach of his obligations under this Stipulation and Agreed Order, the Debtors shall suspend all further payments to the Executive. The Executive may challenge the Special Committees’ determination that he is in breach of an obligation by seeking review by the Court. No further payments shall be due to the Executive unless and until the Court determines that he is not in breach. The Special Committees shall provide prompt notice of any known breach of this Stipulation and Agreed Order to the other Parties. For the avoidance of doubt, the foregoing shall not limit any rights or remedies of any Party relating to a breach of this Stipulation and Agreed Order (including to seek recovery of any previously paid Governance Agreement Payments).

8. Withdrawal of Trustee Motion and Suspension Motion. Upon the occurrence of the Settlement Effective Date, the WBS Ad Hoc Group will withdraw the Trustee Motion and the Suspension Motion by filing notices of withdrawal with the Court.

9. No Subpoena; Withdrawal of Retention Application. Neither Moelis, Moelis’ affiliates, nor any of Moelis’ or Moelis’ affiliates’ respective current or former partners, employees, directors, officers, managers, members, agents, or representatives, each in their capacity as such (each, a “Moelis Party” and together, the “Moelis Parties”), shall be subpoenaed or otherwise be required to testify by the Debtors, the WBS Ad Hoc Group, or the Committee in respect of any matters related to the Chapter 11 Cases. Immediately upon the Settlement Effective Date, Moelis shall withdraw its retention application in the Chapter 11 Cases, and no amounts shall be owed or payable to Moelis and the engagement letter dated March 2, 2026 (the “Moelis Engagement Letter”) shall be terminated.

10. Indemnity. The Debtors shall indemnify and hold harmless Moelis and the Moelis Parties from and against any and all losses, claims, damages, expenses or liabilities arising from or relating to (a) the Chapter 11 Cases, (b) the settlement memorialized in this Stipulation and Agreed Order, or (c) the services provided by Moelis from the Petition Date until the Settlement Effective Date in connection with the Moelis Engagement Letter (collectively, “Losses”), except to the extent such Losses are finally judicially determined to have resulted from the Moelis Party’s bad faith, willful misconduct, or gross negligence. The Debtors acknowledge and agree that this indemnity shall be given to Moelis be in full satisfaction and discharge of any and all pre- and post-petition claims, liabilities, and obligations of the Debtors to the Moelis Parties for any outstanding professional fees, expenses, or other amounts due in connection with Moelis’s engagement or services, and subject to the indemnity provided herein, no further amounts shall be owed or payable to Moelis.

11. Release of Moelis. Any and all claims or causes of action against Moelis arising in whole or in part from these Chapter 11 Cases or related to the provision of services pursuant to Moelis’ services are claims or causes of action of the Debtors and their estates. Upon the occurrence of the Settlement Effective Date and the withdrawal of Moelis’ retention application, Moelis, and the Moelis Parties will be deemed irrevocably and unconditionally, fully, finally, and forever waived, released, acquitted and discharged, by and on behalf of the Debtors, the estates, and the Committee from any and all claims, manner of actions, causes of action, suits, costs, debts, liabilities, obligations, dues, sums of money, accounts, reckonings, bonds, bills, specialties,covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, executions and demands whatsoever, of whatever kind or nature, whether known or unknown, suspected or unsuspected, in law or equity, which the Debtors or the Committee have, have had, may have or may claim to have against the Moelis Parties arising from or relating to (a) the Chapter 11 Cases, (b) the settlement memorialized in this Stipulation and Agreed Order, or (c) the services provided by Moelis in connection with the Moelis Engagement Letter, in each case through the Settlement Effective Date, provided, however, that nothing herein shall release any claims arising from or related to bad faith, willful misconduct, or gross negligence by any Moelis Party. For the avoidance of doubt, the foregoing release shall not limit nor be deemed to limit the rights of any Party to enforce this Stipulation and Agreed Order in accordance with its terms.

12. Third Parties. No provision of this Stipulation and Agreed Order is intended to confer any rights, benefits, remedies, obligations, or liabilities hereunder upon any person other than the Parties hereto. Further, no provision of this Stipulation and Agreed Order is intended to impair any rights, claims, liens, or interests of any person other than Parties hereto and their respective successors and assigns.

13. No Admissions. This Stipulation and Agreed Order is not and shall not in any way be construed as an admission by the Parties of any allegations.

14. Reservation of Rights. Except for the indemnity and release of Moelis, in sections 10 and 11, respectively, this Stipulation and Agreed Order does not include any releases or indemnities in favor of any Party or Executive Family Member, nor does it diminish or enhance any defenses that any Party or Executive Family Member may have.

15. Expenses. Except as expressly set forth herein or in the Interim DIP Order, the Parties shall bear their own costs, expenses, and attorneys’ fees incurred to date in connection with this Stipulation and Agreed Order; provided, that estate professionals and Committee members may seek compensation or reimbursement of expenses pursuant to the Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses of Professionals [Docket 397].

16. Severability. The Parties agree that if any provision of this Stipulation and Agreed Order is determined by a court of competent jurisdiction to be illegal, invalid, or unenforceable, that provision shall not be a part of this Stipulation and Agreed Order. The legality, validity, and enforceability of the remaining provisions shall not be affected by a provision of this Stipulation and Agreed Order that is illegal, invalid, or unenforceable.

17. Miscellaneous.

18. Court Approval. Following the Parties’ execution of this Stipulation and Agreed Order, the Debtors shall file a motion with the Court seeking the entry of an order approving this Stipulation and Agreed Order on an emergency basis pursuant to Federal Rule of Bankruptcy Procedure 9019 and the non-Debtor Parties shall use their reasonable efforts to support and take all actions reasonably requested by the Debtors to obtain approval of the Stipulation and Agreed Order. In the event the Court denies approval of this Stipulation and Agreed Order or if the Settlement Effective Date has not occurred by March 31, 2026 (the “Outside Date”), this Stipulation and Agreed Order shall be null and void and of no force and effect, and the Parties shall be returned to the same positions they were in prior to execution of this Stipulation and Agreed Order, as if this Stipulation and Agreed Order had never been executed; provided, that the Outside Date may be extended with the consent of all Parties (email being sufficient).

IT IS SO ORDERED.

Signed: March 19, 2026

ACCEPTED AND AGREED TO BY:

Schedule 1

The FAT Brands Inc. Indemnification Agreement dated October 19, 2017, the Separation, Cooperation, and Release Agreement dated July 19, 2023, and the organizational documents (e.g. bylaws and articles of incorporation) of the following Debtor entities of which the Executive serves or has served as a director and/or officer on or prior to the Settlement Effective Date: