Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 905

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 905
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to applicable withholding, (ii) each share of common stock, par value $0.001 per share, of Merger Sub that was issued and outstanding
immediately prior to the Effective Time was converted into one validly issued, fully paid and non-assessable share of common stock, par
value $0.001 per share, of FaZe Common Stock.

14

Treatment
of Equity Awards

In
addition, effective as of immediately prior to the Effective Time, all of the outstanding FaZe equity awards, including options to purchase
shares of FaZe Common Stock, each share of FaZe Common Stock subject to vesting, repurchase or other lapse of restrictions, and each
FaZe restricted stock unit convertible into shares of FaZe Common Stock, was assumed by GameSquare and converted into GameSquare equity
awards on substantially the same terms, except that the assumed equity awards will cover a number of shares of GameSquare Common Stock
and, if applicable, have an exercise price determined using the Exchange Ratio.

Also
at the Effective Time, all outstanding warrants to purchase shares of FaZe Common Stock were assumed by GameSquare and converted into
warrants to purchase shares of GameSquare Common Stock on substantially the same terms, except that the assumed warrants cover a number
of shares of GameSquare Common Stock, and have an exercise price, determined using the Exchange Ratio.

Post-Closing
Governance

In
connection with the Merger and in accordance with the Merger Agreement, effective as of the Closing, the board of directors of the Company
(the “Board”) increased the size of the Board from six to nine members and appointed Paul Hamilton and Nick Lewin (each,
a “New Director” and collectively, the “New Directors”), who were previously members of FaZe’s board of
directors, to serve on the Board, in each case, to hold office until their successors are duly elected and qualified or their earlier
death, resignation or removal. Following the appointment of the New Directors, there remains one vacancy on the Board. Pursuant to the
Merger Agreement, such vacancy is to be filled at such time that the Board duly elects an individual to serve in such capacity in accordance
with the Bylaws and the terms of the Merger Agreement. It has not yet been determined on which committees of the Board Mr. Hamilton and
Mr. Lewin will serve.

PIPE
Financing

Substantially
concurrently with the consummation of the Merger, the