Exhibit 10.3

Execution Version

First Amendment
to
Securities Purchase Agreement

          This First Amendment (this “Amendment”) to the Purchase Agreement (as defined below), is entered into as of August 4, 2011, by and among Harbinger Group Inc., Delaware corporation (the “Company”), Quantum Partners LP (the “Soros Purchaser”), DDJ High Yield Fund, an entity organized under the laws of the Province of Ontario, Canada, General Motors Hourly-Rate Employes Pension Trust — 7N1H, a trust maintained by General Motors Corporation, a Delaware corporation, General Motors Salaried Employes Pension Trust — 7N1I, a trust maintained by General Motors Corporation, Stichting Pensioenfonds Hoogovens, a Dutch pension plan regulated by the Dutch Central Bank, Caterpillar Inc. Master Retirement Trust, a trust maintained by Caterpillar, Inc., a Delaware corporation, J.C. Penney Corporation, Inc. Pension Plan Trust, a trust maintained by J.C. Penney Corporation, Inc., a Delaware corporation, Stichting Bewaarder Interpolis Pensioenen Global High Yield Pool, a Dutch tax transparent pool of assets, Stichting Pensioenfonds voor Fysiotherapeuten, a Dutch pension plan regulated by the Dutch Central Bank, Houston Municipal Employees Pension System, a pension plan organized pursuant to Texas government code, UAW Retiree Medical Benefits Trust, a trust consisting of three separate employees’ beneficiary associations, DDJ Distressed and Special Situations Fund, L.P., a Delaware limited partnership, Russell Investment Company — Russell Global Opportunistic Credit Fund, a Massachusetts business trust, DDJ Capital Management Group Trust — High Yield Investment Fund, a trust maintained by The Bank of New York Mellon, a New York State chartered bank, as trustee (collectively, the “DDJ Purchasers”), JHL Capital Group Master Fund L.P. (the “JHL Purchaser”), Luxor Capital Partners, LP, a Delaware limited partnership, Luxor Wavefront, LP, a Delaware limited partnership, Luxor Capital Partners Offshore Fund, LP, a Cayman Islands limited partnership, OC 19 Master Fund, L.P. — LCG, a Cayman Islands limited partnership, and GAM Equity Six Inc., a British Virgin Islands company (collectively, the “Luxor Purchasers”). Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to them in the Purchase Agreement.

          WHEREAS, the parties hereto (other than the Luxor Purchasers) entered into that certain Securities Purchase Agreement, dated as of August 1, 2011 (the “Purchase Agreement”); and

          WHEREAS, in order for the Luxor Purchasers to be joined as Purchasers under the Purchase Agreement, the parties hereto wish to amend certain provisions of the Purchase Agreement and agree that all other terms and conditions of the Purchase Agreement otherwise remain unchanged except as expressly set forth herein.

          NOW THEREFORE, the Purchase Agreement is amended as follows:

          1. The third recital in the Purchase Agreement is hereby amended and restated in their entirety as follows:

     WHEREAS, the Company has authorized the issuance and sale of 120,000 shares of Series A-2 Participating Convertible Preferred Stock, par value $0.01 per share, of the Company (the “Convertible Preferred Stock”), the rights,

preferences and privileges of which are to be set forth in a Certificate of Designation, in the form attached hereto as Exhibit A (the “Certificate of Designation”), which shares of Convertible Preferred Stock shall be convertible into authorized but unissued shares of Common Stock (as defined below);

     2. The following definitions set forth in Section 1 of the Purchase Agreement are hereby amended and restated in their entirety as follows:

     “Purchasers” means, collectively, the Soros Purchaser, the DDJ Purchasers, the JHL Purchaser and the Luxor Purchasers.

     3. Section 1 of the Purchase Agreement is hereby amended to add the following definition:

     “Luxor Purchasers” shall mean, collectively, Luxor Capital Partners, LP, a Delaware limited partnership, Luxor Wavefront, LP, a Delaware limited partnership, Luxor Capital Partners Offshore Fund, LP, a Cayman Islands limited partnership, OC 19 Master Fund, L.P. - LCG, a Cayman Islands limited partnership, and GAM Equity Six Inc., a British Virgin Islands company.

          4. Section 5.11 of the Purchase Agreement is hereby deleted in its entirety and replaced with a reference to “[Reserved.]”

          5. New subsection (e) is hereby added to Section 12.3 of the Purchase Agreement as follows:

               (e) if to the Luxor Purchasers, to:

Luxor Capital Group, LP
1114 Avenue of the Americas, 29th Floor
New York, NY 10036
Attn: Operations Group
Fax: (212) 763-8001

          6. Annex A of the Purchase Agreement is hereby amended and restated in its entirety as set forth on Exhibit A hereto.

          7. Each of the Luxor Purchasers agrees that upon execution of this Amendment, such Luxor Purchaser shall become a party to the Purchase Agreement and shall be fully bound by, and subject to, all of the representations, warranties, covenants, terms and conditions of the Purchase Agreement as though an original party thereto and shall be deemed a Purchaser for all purposes thereof and entitled to all the rights incidental thereto.

          8. Except as expressly amended herein, all provisions of the Purchase Agreement shall remain in full force and effect.

          9. This Amendment shall be governed by and construed in accordance with the laws of the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts of law thereof.

          10. This Amendment may be signed in any number of counterparts each of which shall be an original and all of which shall together constitute one and the same agreement. Any counterpart or other signature hereupon delivered by facsimile shall be deemed for all purposes as constituting good and valid execution and delivery of this Amendment by such party.

[Signature Pages Follows]

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

[Signature Page to First Amendment to the Purchase Agreement]

[Signature Page to First Amendment to the Purchase Agreement]

[Signature Page to First Amendment to the Purchase Agreement]

[Signature Page to First Amendment to the Purchase Agreement]

[Signature Page to First Amendment to the Purchase Agreement]

[Signature Page to First Amendment to the Purchase Agreement]

[Signature Page to First Amendment to the Purchase Agreement]

[Signature Page to First Amendment to the Purchase Agreement]

Exhibit A

Annex A

Shares and Purchasers

Purchaser		Shares				Share Purchase Price
Luxor Capital Partners, LP			14,384			$	14,384,000.00
Luxor Capital Partners Offshore Master Fund, LP			22,263			$	22,263,000.00
Luxor Wavefront, LP			5,159			$	5,159,000.00
OC 19 Master Fund, LP			1,603			$	1,603,000.00
GAM Equity Six, Inc.:			1,591			$	1,591,000.00
Quantum Partners LP			25,000			$	25,000,000.00
DDJ High Yield Fund			250			$	250,000.00
General Motors Hourly-Rate Employes Pension Trust — 7N1H			3,750			$	3,750,000.00
General Motors Salaried Employes Pension Trust — 7N1I			2,000			$	2,000,000.00
Stichting Pensioenfonds Hoogovens			1,250			$	1,250,000.00
Caterpillar Inc. Master Retirement Trust			2,500			$	2,500,000.00

Purchaser		Shares				Share Purchase Price
J.C. Penney Corporation, Inc. Pension Plan Trust			3,000			$	3,000,000.00
Stichting Bewaarder Interpolis Pensioenen Global High Yield Pool			3,250			$	3,250,000.00
Stichting Pensioenfonds voor Fysiotherapeuten			1,000			$	1,000,000.00
Houston Municipal Employees Pension System			1,000			$	1,000,000.00
UAW Retiree Medical Benefits Trust			3,750			$	3,750,000.00
DDJ Distressed and Special Situations Fund, L.P.			1,000			$	1,000,000.00
Russell Investment Company — Russell Global Opportunistic Credit Fund			2,000			$	2,000,000.00
DDJ Capital Management Group Trust — High Yield Investment Fund			250			$	250,000.00
JHL Capital Group Master Fund L.P.			25,000			$	25,000,000.00
TOTAL:			120,000			$	120,000,000.00