Exhibit 10.2





 


	To:	
        DraftKings Inc.

        222 Berkley Street, 5th Floor

        Boston, MA 20116

        Attention: Erik Bradbury, Chief Accounting Officer

        Telephone No.: [__________]

        Email:[__________]



	 	 
	From:	
        [Dealer]

        [__________]

        [__________]

        [__________]

	 	 
	Re:	
        Additional Capped Call Transaction 

	 	 
	Date:	
        March 16, 2021 



 


Dear Ladies and Gentlemen:


 


The purpose of this
communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced transaction
(the “Transaction”) entered into on the Trade Date specified below between [_________] (“Dealer”)
and DraftKings Inc., a Nevada corporation (“Counterparty”). This communication constitutes a “Confirmation”
as referred to in the ISDA Master Agreement specified below. Each party hereto agrees that this Confirmation, together with the
Agreement (as defined below), evidence a complete binding agreement between Dealer and Counterparty as to the subject matter and
terms of the Transaction to which this Confirmation relates, and shall supersede all prior or contemporaneous written or oral communications
with respect thereto.


 


1. This Confirmation
is subject to, and incorporates, the definitions and provisions of the 2006 International Swaps and Derivatives Association, Inc.
(“ISDA”) Definitions (the “2006 Definitions”) and the definitions and provisions of the 2002
ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2006 Definitions, the “Definitions”),
in each case as published by the ISDA. In the event of any inconsistency between the 2006
Definitions and the Equity Definitions, the Equity Definitions will govern and in the event of any inconsistency between terms
defined in the Equity Definitions and this Confirmation, this Confirmation shall govern.


 


This Confirmation shall
supplement, form a part of, and be subject to an agreement (the “Agreement”) in the form of the 2002 ISDA Master
Agreement as if Dealer and Counterparty had executed an agreement in such form on the Trade Date (but without any Schedule except
for (i) the election of the laws of the State of New York as the governing law (without reference to choice of law doctrine), [(ii)
the election of an executed guarantee of [__________] (“Guarantor”) dated [____________] as a Credit Support
Document, (iii) the election of Guarantor as Credit Support Provider in relation to Dealer and (iv)] [and (ii)] the election that
the “Cross Default” provisions of Section 5(a)(vi) of the Agreement shall apply to Dealer, (a) with a Threshold
Amount” of 3% of the shareholders’ equity of [Dealer] [_________] [(“Dealer Parent”)] on the Trade
Date, (b) “Specified Indebtedness” having the meaning set forth in Section 14 of the Agreement, except that it
shall not include any obligation in respect of deposits received in the ordinary course of Dealer's banking business, (c) the
phrase “, or becoming capable at such time of being declared,” shall be deleted from clause (1) of such Section 5(a)(vi)
of the Agreement, and (d) the following sentence shall be added to the end of Section 5(a)(vi) of the Agreement: “Notwithstanding
the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (i) the default was caused solely
by error or omission of an administrative or operational nature; (ii) funds were available to enable the relevant party to make
payment when due; and (iii) the payment is made within two Local Business Days of such party’s receipt of written notice
of its failure to pay.”).


 






     

     


    

 


 


All provisions contained
in, or incorporated by reference to, the Agreement will govern this Confirmation except as expressly modified herein. In the event
of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern.


 


The Transaction hereunder shall be the
sole Transaction under the Agreement. If there exists any ISDA Master Agreement between Dealer and Counterparty or any confirmation
or other agreement between Dealer and Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between Dealer
and Counterparty, then notwithstanding anything to the contrary in such ISDA Master Agreement, such confirmation or agreement or
any other agreement to which Dealer and Counterparty are parties, the Transaction shall not be considered a Transaction under,
or otherwise governed by, such existing or deemed ISDA Master Agreement and the occurrence of any Event of Default or Termination
Event under the Agreement with respect to either party or the Transaction shall not, by itself, give rise to any right or obligation
under any such other agreement or deemed agreement.


 


2. The Transaction
constitutes a Share Option Transaction for purposes of the Equity Definitions. The terms of the particular Transaction to which
this Confirmation relates are as follows:


 


General Terms:


 


	Trade Date:	 March 16, 2021
	Effective Date:	 March 18, 2021, or such other date as agreed by the parties in writing.
	Components:	The Transaction will be divided into individual Components, each with the terms set forth in this Confirmation, and, in particular, with the Number of Options and Expiration Date set forth in Annex A to this Confirmation.  The exercise, valuation and settlement of the Transaction will be effected separately for each Component as if each Component were a separate Transaction under the Agreement.
	Option Style:	“European”, as described under “Procedures for Exercise” below.
	Option Type:	Call
	Seller:	Dealer
	Buyer:	Counterparty
	Shares:	The Class A common stock of Counterparty, par value USD$0.0001 per Share (Exchange Symbol: “DKNG”).
	Number of Options:	For each Component, as provided in Annex A to this Confirmation.
	Option Entitlement:	One Share per Option
	Strike Price:	USD 94.8497
	Cap Price:	USD 135.5000; provided that in no event shall the Cap Price be reduced to an amount less than the Strike Price in connection with any adjustment by the Calculation Agent under this Confirmation.
	Number of Shares:	As of any date, a number of Shares equal to the product of (i) the Number of Options and (ii) the Option Entitlement.
	Premium:	USD [_____]; Dealer and Counterparty hereby agree that notwithstanding anything to the contrary herein or in the Agreement, following the payment of the Premium, in the event that (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement that is within Counterparty’s control) occurs or is designated with respect to any Transaction and, as a result, Counterparty owes to Dealer the amount calculated under Section 6(d) and Section 6(e) or otherwise under the Agreement (calculated as if the Transactions terminated on such Early Termination Date were the sole Transactions under the Agreement) or (b) Counterparty owes to Dealer, pursuant to Sections 12.2, 12.3, 12.6, 12.7, 12.8 or 12.9 of the Equity Definitions or otherwise under the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero. 



 






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	Premium Payment Date:	The Effective Date
	Exchange:	The NASDAQ Global Select Market
	Related Exchange:	All Exchanges; provided that Section 1.26 of the Equity Definitions shall be amended to add the words “United States” before the word “exchange” in the tenth line of such Section.
	Procedures for Exercise:	 
	Expiration Time:	The Valuation Time
	Expiration Date:	For any Component, as provided in Annex A to this Confirmation (or, if such date is not a Scheduled Valid Day, the next following Scheduled Valid Day that is not already an Expiration Date for another Component); provided that if that date is a Disrupted Day, the Expiration Date for such Component shall be the first succeeding Scheduled Valid Day that is not a Disrupted Day and is not or is not deemed to be an Expiration Date in respect of any other Component of the Transaction hereunder; and provided further that in no event shall the Expiration Date be postponed to a date later than the Final Termination Date and, notwithstanding anything to the contrary in this Confirmation or the Equity Definitions, if the Expiration Date is a Disrupted Day, the Relevant Price for such Expiration Date shall be the prevailing market value per Share determined by the Calculation Agent in a good faith and commercially reasonable manner. Notwithstanding the foregoing and anything to the contrary in the Equity Definitions, if a Market Disruption Event occurs on any Expiration Date, the Calculation Agent may determine in a good faith and commercially reasonable manner that such Expiration Date is a Disrupted Day only in part, in which case the Calculation Agent shall make commercially reasonable adjustments to the Number of Options for the relevant Component for which such day shall be the Expiration Date, shall designate the Scheduled Valid Day determined in the manner described in the immediately preceding sentence as the Expiration Date for the remaining Options for such Component and may determine the Relevant Price based on transactions in the Shares on such Disrupted Day taking into account the nature and duration of such Market Disruption Event on such day. Any Scheduled Valid Day on which, as of the date hereof, the Exchange is scheduled to close prior to its normal close of trading shall be deemed not to be a Scheduled Valid Day; if a closure of the Exchange prior to its normal close of trading on any Scheduled Valid Day is scheduled following the date hereof, then such Scheduled Valid Day shall be deemed to be a Disrupted Day in full. Section 6.6 of the Equity Definitions shall not apply to any Valuation Date occurring on an Expiration Date.



 






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	Final Termination Date:	July 6, 2028
	Automatic Exercise:	Applicable; and means that the Number of Options for the relevant Component will be deemed to be automatically exercised at the Expiration Time on the Expiration Date for such Component if at such time such Component is In-the-Money, unless Buyer notifies Seller (in writing) prior to the Expiration Time on such Expiration Date that it does not wish Automatic Exercise to occur with respect to such Component, in which case Automatic Exercise will not apply with respect to such Component.  “In-the-Money” means, in respect of any Component, that the Relevant Price on the Expiration Date for such Component is greater than the Strike Price for such Component.
	Valuation Time:	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in a good faith and commercially reasonable manner.
	Valuation Date:	For any Component, the Expiration Date therefor.
	Market Disruption Event:	
        Section 6.3(a) of the Equity Definitions
        is hereby amended by deleting the words “during the one hour period that ends at the relevant Valuation Time, Latest Exercise
        Time, Knock-in Valuation Time or Knock-out Valuation Time, as the case may be,” in clause (ii) thereof.

         

        Section 6.3(d) of the Equity Definitions
is hereby amended by deleting the remainder of the provision following the term “Scheduled Closing Time” in the fourth
line thereof. 

	Settlement Terms:	 
	Settlement Method Election:	
        Applicable; provided that (a) Section 7.1
        of the Equity Definitions is hereby amended by replacing the term “Physical Settlement” with the term “Net Share
        Settlement”, (b) Counterparty must make a single irrevocable election for all Components and (c) if Counterparty is
        electing Cash Settlement, such Settlement Method Election would be effective only if Counterparty represents and warrants to Dealer
        in writing on the date of such Settlement Method Election that (i) Counterparty is not in possession of any material non-public
        information regarding Counterparty or the Shares, and (ii) such election is being made in good faith and not as part of a plan
        or scheme to evade compliance with the federal securities laws.

         

        Without limiting the generality of the
        foregoing, Counterparty acknowledges its responsibilities under applicable securities laws, and in particular Sections 9 and 10(b)
        of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder
        in respect of such election.

         

	Electing Party:	Counterparty
	Settlement Method Election Date:	The second Scheduled Valid Day prior to the scheduled Expiration Date for the Component with the earliest scheduled Expiration Date.



 






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	Default Settlement Method:	Net Share Settlement
	Net Share Settlement:	
        With respect to any Component, if Net Share
        Settlement is applicable, Dealer will deliver to Counterparty, on the Settlement Date, a number of Shares (the “Net Share
        Settlement Amount”) equal to (i) the Daily Option Value on the Expiration Date of such Component divided by (ii)
        the Relevant Price on such Expiration Date.

         

        Dealer will deliver cash in lieu
of any fractional Shares to be delivered with respect to any Net Share Settlement Amount valued at the Relevant Price for the
Expiration Date of such Component. 

	Cash Settlement:	With respect to any Component, if Cash Settlement is applicable to the Options exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the Settlement Date, an amount of cash (the “Cash Settlement Amount”) equal to the Daily Option Value on the Expiration Date of such Component.
	Delivery Obligation:	The Net Share Settlement Amount or the Cash Settlement Amount payable or deliverable in respect of all Components on the Settlement Date.
	Daily Option Value:	For any Component, an amount equal to (i) the Number of Options in such Component, multiplied by (ii) the Option Entitlement multiplied by (iii)(A) the lesser of the Relevant Price on the Expiration Date of such Component and the Cap Price, minus (B) the Strike Price on such Expiration Date; provided that if the calculation contained in clause (ii) above results in a negative number, the Daily Option Value for such Component shall be deemed to be zero. In no event will the Daily Option Value be less than zero.
	Valid Day:	A day on which (i) there is no Market Disruption Event and (ii) trading in the Shares generally occurs on the Exchange. If the Shares are not listed, quoted or traded on any U.S. securities exchange or any other market, “Valid Day” means a Business Day.
	Scheduled Valid Day:	A day that is scheduled to be a Valid Day on the Exchange. If the Shares are not listed, quoted or traded on any U.S. securities exchange or any other market, “Scheduled Valid Day” means a Business Day.
	Business Day:	Any day other than a Saturday, a Sunday or other day on which banking institutions are authorized or required by law, regulation or executive order to close or be closed in the State of New York.
	Relevant Price:	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “DKNG <equity> AQR” (or its equivalent successor if such page is not available) (the “VWAP”) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Valid Day (or if such volume-weighted average price is unavailable at such time, the market value of one Share on such Valid Day, as determined by the Calculation Agent in a good faith and commercially reasonable manner using, if practicable, a volume-weighted average method substantially similar to the method for determining the VWAP). The Relevant Price will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.



 






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	Settlement Date:	For all Components of the Transaction, the date one Settlement Cycle immediately following the Expiration Date for the Component with the latest scheduled Expiration Date.
	Settlement Currency:	USD
	Other Applicable Provisions:	The provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Net Share Settlement.”
	Representation and Agreement:	Notwithstanding anything to the contrary in the Equity Definitions (including, but not limited to, Section 9.11 thereof), the parties acknowledge that (i) any Shares delivered to Counterparty shall be, upon delivery, subject to restrictions, obligations and limitations arising from Counterparty's status as issuer of the Shares under applicable securities laws, (ii) Dealer may deliver any Shares required to be delivered hereunder in certificated form in lieu of delivery through the Clearance System and (iii) any Shares delivered to Counterparty may be “restricted securities” (as defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”)).
	Adjustments:	 
	Method of Adjustment:	Calculation Agent Adjustment; provided that the parties agree that (x) open market Share repurchases at prevailing market prices and (y) Share repurchases through a dealer pursuant to accelerated share repurchases, forward contracts or similar transactions (including, without limitation, any discount to average VWAP prices) that are entered into at prevailing market prices and in accordance with customary market terms for transactions of such type to repurchase the Shares shall not be considered Potential Adjustment Events so long as, in the case of clause (y) after giving effect to such transaction, the aggregate number of Shares repurchased during the term of the Transaction pursuant to all such transactions described in clause (y) would not exceed per annum 20% of the number of Shares outstanding as of the Trade Date, as determined by the Calculation Agent and as adjusted by the Calculation Agent in a commercially reasonable manner to account for any subdivision or combination with respect to the Shares or result in a net reduction in the number of Shares outstanding to less than 70% of the number of Shares outstanding as of the Trade Date, as so determined. 



 






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	Extraordinary Events:	 
	New Shares:	In the definition of New Shares in Section 12.1(i) of the Equity Definitions, the text in clause (i) thereof shall be deleted in its entirety and replaced with “publicly quoted, traded or listed on any of The New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or their respective successors) and of an entity or person organized under the laws of the United States, any State thereof or the District of Columbia”.
	Merger Events:	Applicable
	Consequences of Merger Events:	 
	(a)   Share-for-Share:	Modified Calculation Agent Adjustment
	(b)   Share-for-Other:	Cancellation and Payment (Calculation Agent Determination)
	(c)   Share-for-Combined:	Cancellation and Payment (Calculation Agent Determination); provided that the Calculation Agent may elect Component Adjustment for all or part of the Transaction
	Tender Offer:	Applicable; provided that the definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions will be amended by replacing the phrase “greater than 10% and less than 100% of the outstanding voting shares of Counterparty” in the third and fourth line thereof with “(a) greater than 25% and less than 100% of the outstanding Shares of Counterparty”.
	Consequences of Tender Offers:	 
	(a)   Share-for-Share:	Modified Calculation Agent Adjustment 
	(b)   Share-for-Other:  	Modified Calculation Agent Adjustment
	(c)   Share-for-Combined:	Modified Calculation Agent Adjustment
	Consequences of Announcement Events:	Modified Calculation Agent Adjustment as set forth in Section 12.3(d) of the Equity Definitions; provided that, in respect of an Announcement Event, (x) references to “Tender Offer” shall be replaced by references to “Announcement Event” and references to “Tender Offer Date” shall be replaced by references to “date of such Announcement Event”, (y) the phrase “exercise, settlement, payment or any other terms of the Transaction (including, without limitation, the spread)” shall be replaced with the phrase “Cap Price (provided that in no event shall the Cap Price be less than the Strike Price)” and the words “whether within a commercially reasonable (as determined by the Calculation Agent) period of time prior to or after the Announcement Event” shall be inserted prior to the word “which” in the seventh line, and (z) for the avoidance of doubt, the Calculation Agent shall, in good faith and a commercially reasonable manner, determine whether the relevant Announcement Event has had a material economic effect on the Transaction and, if so, shall adjust the Cap Price accordingly to take into account such economic effect on one or more occasions on or after the date of the Announcement Event up to, and including, the Expiration Date, any Early Termination Date and/or any other date of cancellation, it being understood that any adjustment in respect of an Announcement Event shall take into account any earlier adjustment relating to the same Announcement Event and shall not be duplicative with any other adjustment or cancellation valuation made pursuant to this Confirmation, the Equity Definitions or the Agreement; provided that in no event shall the Cap Price be adjusted to be less than the Strike Price.  An Announcement Event shall be an “Extraordinary Event” for purposes of the Equity Definitions, to which Article 12 of the Equity Definitions is applicable; provided further that upon the Calculation Agent making an adjustment, determined in a commercially reasonable manner, to the Cap Price upon any Announcement Event, then the Calculation Agent shall make a commercially reasonable adjustment to the Cap Price upon any announcement regarding the same event that gave rise to the original Announcement Event regarding the abandonment of any such event to the extent necessary to reflect the economic effect of such subsequent announcement on the Transaction (provided that in no event shall the Cap Price be less than the Strike Price).



 






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	Announcement Event:	(i) The public announcement (whether by Counterparty, any agent of Counterparty, any affiliate of Counterparty or a Valid Third Party Entity) of any transaction or event that is reasonably likely to be completed (as determined by the Calculation Agent, it being understood and agreed that in making such determination, the Calculation Agent may take into consideration the effect of the relevant announcement on the market for and/or trading in the Shares and/or options relating to the Shares) and, if completed, would constitute a Merger Event or Tender Offer, or the announcement by Counterparty of any intention to enter into a Merger Event or Tender Offer, (ii) the public announcement by Counterparty of an intention by Counterparty to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include, a Merger Event or Tender Offer, (iii) there occurs a public announcement (whether by Counterparty, any agent of Counterparty, any affiliate of Counterparty or a Valid Third Party Entity) of any potential acquisition or disposition by Counterparty and/or its subsidiaries that, is reasonably likely to be completed (as determined by the Calculation Agent, it being understood and agreed that in making such determination, the Calculation Agent may take into consideration the effect of the relevant announcement on the market for and/or trading in the Shares and/or options relating to the Shares) and, where the consideration exceeds 40% of the market capitalization of Counterparty as of the date of such announcement, or (iv) any subsequent public announcement (whether by Counterparty, any agent of Counterparty, any affiliate of Counterparty or a Valid Third Party Entity) of a change to a transaction or intention that is the subject of an announcement of the type described in clause (i), (ii) or (iii) of this sentence (including, without limitation, a new announcement relating to such a transaction or intention or the announcement of a withdrawal from, or the abandonment or discontinuation of, such a transaction or intention); provided that, for the avoidance of doubt, the occurrence of an Announcement Event with respect to any transaction or intention shall not preclude the occurrence of a later Announcement Event with respect to such transaction or intention.



 






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	Valid Third Party Entity:	In respect of any transaction, any third party that has a bona fide intent and capacity to enter into or consummate such transaction (as determined by the Calculation Agent, it being understood and agreed that in determining whether such third party has such a bona fide intent and capacity, the Calculation Agent may take into consideration the effect of the relevant announcement by such third party on the market for and/or trading in the Shares and/or options relating to the Shares).
	Notice of Merger Consideration and Consequences:	Upon the occurrence of a Merger Event that causes the Shares to be converted into the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), Counterparty shall reasonably promptly (but in any event prior to the relevant merger date) notify the Calculation Agent of (i) the type and amount of consideration that a holder of Shares would have been entitled to in the case of reclassifications, consolidations, mergers, sales or transfers of assets or other transactions that cause Shares to be converted into the right to receive more than a single type of consideration and (ii) the weighted average of the types and amounts of consideration to be received by the holders of Shares that affirmatively make such an election.
	Nationalization, Insolvency or Delisting:	Cancellation and Payment (Calculation Agent Determination); provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.
	Additional Disruption Events:	 
	(a) Change in Law:	
        Applicable; provided that Section
        12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third
        line thereof with the phrase “, or public announcement of, the formal or informal interpretation”, (ii) by adding the
        phrase “and/or Hedge Position” after the word “Shares” in clause (X) thereof, (iii) by immediately following
        the word “Transaction” in clause (X) thereof, adding the phrase “in the manner contemplated by the Hedging Party
        on the Trade Date” and (iv) adding the words “provided that, in the case of clause (Y) hereof and any law, regulation
        or interpretation, the consequence of such law, regulation or interpretation is applied in a substantially consistent manner by
        Dealer to counterparties similarly situated to Counterparty and transactions similar to the Transaction” after the semi-colon
        in the last line thereof.

         

        ; and provided further
that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the parenthetical beginning after the
word “regulation” in the second line thereof with the words “(including, for the avoidance of doubt and without
limitation, (x) any tax law or (y) adoption or promulgation of new regulations authorized or mandated by existing statute)”
and (ii) adding the words “, or holding, acquiring or disposing of Shares or any Hedge Positions relating to,”
after the words “obligations under” in clause (Y) thereof. 




 






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	(b) Failure to Deliver:	Applicable
	(c) Insolvency Filing:	Applicable
	(d) Hedging Disruption:	
        Applicable; provided that:

         

        (i) Section 12.9(a)(v) of the Equity Definitions
        is hereby amended by inserting the following sentence at the end of such Section:

         

        “For the avoidance of doubt, (i) the
        term “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility risk,
        and (ii) the transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing
        and other terms.”; and

         

        (ii) Section 12.9(b)(iii) of the
Equity Definitions is hereby amended by inserting in the third line thereof, after the words “to terminate the Transaction”,
the words “or a portion of the Transaction affected by such Hedging Disruption”. 

	(e) Increased Cost of Hedging:	Not Applicable
	Hedging Party:	Dealer
	Determining Party:	For all applicable Extraordinary Events, Dealer; all calculations and determinations made by the Determining Party shall be made in good faith and in a commercially reasonable manner; provided that, upon receipt of written request from Counterparty, the Determining Party shall promptly provide Counterparty with a written explanation  describing in reasonable detail any calculation, adjustment or determination made by it (including any quotations, market data or information from internal or external sources used in making such calculation, adjustment or determination, as the case may be, in a commonly used file format for the storage and manipulation of financial data, but without disclosing Determining Party’s proprietary models or other information that may be proprietary or subject to contractual, legal or regulatory obligations to not disclose such information), and shall use commercially reasonable efforts to provide such written explanation within five (5) Exchange Business Days from the receipt of such request.
	Non-Reliance:	Applicable
	Agreements and Acknowledgments Regarding Hedging Activities:	Applicable
	Additional Acknowledgments:	Applicable


 


3. Calculation Agent:
Dealer; provided that, following the occurrence of an Event of Default of the type described in Section 5(a)(vii) of the
Agreement with respect to which Dealer is the sole Defaulting Party, if the Calculation Agent fails to timely make any calculation,
adjustment or determination required to be made by the Calculation Agent hereunder or to perform any obligation of the Calculation
Agent hereunder and such failure continues for five (5) Exchange Business Days following notice to the Calculation Agent by Counterparty
of such failure, Counterparty shall have the right to designate a nationally recognized third-party dealer in over-the-counter
corporate equity derivatives to act, during the period commencing on the date such Event of Default occurred and ending on the
Early Termination Date with respect to such Event of Default, as the Calculation Agent.


 






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All calculations and
determinations made by the Calculation Agent shall be made in good faith and in a commercially reasonable manner; provided
that, upon receipt of written request from Counterparty, the Calculation Agent shall promptly provide Counterparty with a written
explanation describing in reasonable detail any calculation, adjustment or determination made by it (including any quotations,
market data or information from internal or external sources used in making such calculation, adjustment or determination, as the
case may be, but without disclosing Dealer's proprietary models or other information that may be proprietary or subject to contractual,
legal or regulatory obligations to not disclose such information), and shall use commercially reasonable efforts to provide such
written explanation within five (5) Exchange Business Days from the receipt of such request.


 


4. Account Details:


 


Dealer Payment Instructions:


 


Bank:[____________]


SWIFT: [____________]


Bank Routing:[____________]


Acct Name:[____________]


Acct No.:[____________]






Counterparty Payment Instructions:
To be advised.


 


5. Offices:


 


The Office of
Dealer for the Transaction is: [____________]


 


[Dealer’s Office Address]


 


The Office of Counterparty for
the Transaction is: Inapplicable, Counterparty is not a Multibranch Party.


 


6. Notices:
For purposes of this Confirmation:


 


(a) Address for notices
or communications to Counterparty:


 





	To:	DraftKings Inc.
		222 Berkley Street, 5th Floor
		Boston, MA 02116
	Attention:	Erik Bradbury, Chief Accounting Officer
	Telephone No.:	[_______________]
	Email:	[_______________]


  


(b) Address
for notices or communications to Dealer:


 





	To:	[_______________]
	 	[_______________]
	 	[_______________]
	Attention:	[_______________]
	Telephone:	[_______________]
	Facsimile:	[_______________]
	Email:	[_______________]


 





7. Representations,
Warranties and Agreements: 


 


(a) In addition to
the representations and warranties in the Agreement and those contained elsewhere herein, Counterparty represents and warrants
to and for the benefit of, and agrees with, Dealer as follows:


 






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(i) On the
Trade Date (A) none of Counterparty and its officers and directors is aware of any material non-public information regarding Counterparty
or the Shares, and (B) all reports and other documents filed by Counterparty with the Securities and Exchange Commission pursuant
to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), when considered as a whole (with the
more recent such reports and documents deemed to amend inconsistent statements contained in any earlier such reports and documents),
do not contain any untrue statement of a material fact or any omission of a material fact required to be stated therein or necessary
to make the statements therein, in the light of the circumstances in which they were made, not misleading .


 


(ii) On
the Trade Date, (A) the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and
shall not be, subject to a “restricted period,” as such term is defined in Regulation M under the Exchange Act (“Regulation
M”), and (B) Counterparty is not engaged in any “distribution,” as such term is defined in Regulation M,
other than a distribution meeting the requirements of the exceptions set forth in Rule 101(b)(10) and Rule 102(b)(7) or Rule 102(c)(1)(i)
of Regulation M.


 


(iii) On
the Trade Date, neither Counterparty nor any “affiliated purchaser” (as defined in Rule 10b-18 of the Exchange Act
(“Rule 10b-18”)) shall directly or indirectly (including, without limitation, by means of any cash-settled or
other derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence
any tender offer relating to, any Shares (or an equivalent interest, including a unit of beneficial interest in a trust or limited
partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares, except through Dealer.


 


(iv) Without
limiting the generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges that neither Dealer nor any of its
affiliates is making any representations or warranties or taking any position or expressing any view with respect to the treatment
of the Transaction under any accounting standards including ASC Topic 260, Earnings Per Share, ASC Topic 815, Derivatives
and Hedging, or ASC Topic 480, Distinguishing Liabilities from Equity and ASC 815-40, Derivatives and Hedging
 – Contracts in Entity's Own Equity (or any successor issue statements).


 


(v) Without
limiting the generality of Section 3(a)(iii) of the Agreement, the Transaction will not violate Rule 13e-1 or Rule 13e-4 under
the Exchange Act.


 


(vi) Prior
to the Trade Date, Counterparty shall deliver to Dealer a resolution of Counterparty’s board of directors authorizing the
Transaction and approving the Transaction and any related hedging activity for purposes of Sections 78.411-444 of the Nevada Revised
Statutes.


 


(vii) Counterparty
is not entering into this Confirmation to create actual or apparent trading activity in the Shares (or any security convertible
into or exchangeable for Shares) or to manipulate the price of the Shares (or any security convertible into or exchangeable for
Shares) or otherwise in violation of the Exchange Act.


 


(viii) Counterparty
is not, and after giving effect to the transactions contemplated hereby will not be, required to register as an “investment
company,” as such term is defined in the Investment Company Act of 1940, as amended.


 


(ix) On
and immediately after the Trade Date and the Premium Payment Date, (A) the value of the total assets of Counterparty is greater
than the sum of the total liabilities (including contingent liabilities) plus the amount that would be needed, were Counterparty
to be dissolved, to satisfy the preferential rights of stockholders of Counterparty with superior preferential rights (as such
terms are used in Section 78.288 of the Nevada Revised Statutes) of Counterparty, (B) the capital of Counterparty is adequate
to conduct the business of Counterparty, and Counterparty’s entry into the Transaction will not impair its capital, (C) Counterparty
has the ability to pay its debts and obligations as such debts become due in the ordinary course of business and does not intend
to, or does not believe that it will, incur debt beyond its ability to pay as such debts become due, (D) Counterparty is not “insolvent”
(as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy
Code”)) and (E) Counterparty would be able to purchase the number of Shares with respect to the Transaction in compliance
with the laws of the jurisdiction of Counterparty’s incorporation (including the adequate surplus and capital requirements
of Section 78.288 of the Nevada Revised Statutes).


 






    	 	12	 



     


    

 


(x) To Counterparty’s
knowledge, no U.S. state or local law, rule, regulation or regulatory order applicable to the Shares would give rise to any reporting,
consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person
or entity) as a result of Dealer or its affiliates owning or holding (however defined) Shares; provided that no such representation
shall be made by Counterparty with respect to any rules and regulations applicable to Dealer (including the Financial Industry
Regulatory Authority, Inc.) arising from Dealer’s status as a regulated entity under applicable law.


 


(xi) Counterparty
(A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment
strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any
broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing, and (C) has total assets
of at least $50 million on the date hereof.


 


(xii) [Counterparty
acknowledges that the Transaction may constitute a purchase of its equity securities. Counterparty further acknowledges that, pursuant
to the provisions of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Counterparty would
be required to agree to certain time-bound restrictions on its ability to purchase its equity securities if it receives loans,
loan guarantees or direct loans (as that term is defined in the CARES Act) under section 4003(b) of the CARES Act. Counterparty
further acknowledges that it may be required to agree to certain time-bound restrictions on its ability to purchase its equity
securities if it receives loans, loan guarantees or direct loans (as that term is defined in the CARES Act) under programs or facilities
established by the Board of Governors of the Federal Reserve System for the purpose of providing liquidity to the financial system
(together with loans, loan guarantees or direct loans under section 4003(b) of the CARES Act, “Governmental Financial
Assistance”). Accordingly, Counterparty represents and warrants that it has not applied for, and prior to the termination
or settlement of the Transaction has no present intention to apply for Governmental Financial Assistance under any governmental
program or facility that (a) is established under the CARES Act or the Federal Reserve Act, as amended, and (b) requires, as a
condition of such Governmental Financial Assistance, that Counterparty agree, attest, certify or warrant that it has not, as of
the date specified in such condition, repurchased, or will not repurchase, any equity security of Counterparty.]


 


(b) Each of Dealer
and Counterparty agrees and represents that it is an “eligible contract participant” as defined in Section 1a(18) of
the U.S. Commodity Exchange Act, as amended, and is entering into the Transaction as principal (and not as agent or in any other
capacity, fiduciary or otherwise) and not for the benefit of any third party.


 


(c) Each of Dealer
and Counterparty acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration under
the Securities Act, by virtue of Section 4(a)(2) thereof. Accordingly, Counterparty represents and warrants to Dealer that (i)
it has the financial ability to bear the economic risk of its investment in the Transaction and is able to bear a total loss of
its investment and its investments in and liabilities in respect of the Transaction, which it understands are not readily marketable,
are not disproportionate to its net worth, and it is able to bear any loss in connection with the Transaction, including the loss
of its entire investment in the Transaction, (ii) it is an “accredited investor” as that term is defined in Regulation
D as promulgated under the Securities Act, (iii) it is entering into the Transaction for its own account and without a view to
the distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not been and will
not be registered under the Securities Act and is restricted under this Confirmation, the Securities Act and state securities laws,
and (v) its financial condition is such that it has no need for liquidity with respect to its investment in the Transaction and
no need to dispose of any portion thereof to satisfy any existing or contemplated undertaking or indebtedness and is capable of
assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts,
the terms, conditions and risks of the Transaction.


 


(d) Each of Dealer
and Counterparty agrees and acknowledges that Dealer is a “financial institution,” “swap participant” and
 “financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of the Bankruptcy Code. The parties
hereto further agree and acknowledge (A) that this Confirmation is (i) a “securities contract,” as such term is defined
in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is
a “termination value,” “payment amount” or “other transfer obligation” within the meaning of
Section 362 of the Bankruptcy Code and a “settlement payment” within the meaning of Section 546 of the Bankruptcy Code,
and (ii) a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which
each payment and delivery hereunder or in connection herewith is a “termination value,” “payment amount”
or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “transfer”
within the meaning of Section 546 of the Bankruptcy Code, and (B) that Dealer is entitled to the protections afforded by, among
other sections, Sections 362(b)(6), 362(b)(17), 362(b)(27), 362(o), 546(e), 546(g), 546(j), 548(d)(2), 555, 560 and 561 of the
Bankruptcy Code.


 






    	 	13	 



     


    

 


(e) As a condition
to the effectiveness of the Transaction, Counterparty shall deliver to Dealer an opinion of counsel, dated as of the Effective
Date and reasonably acceptable to Dealer in form and substance, with respect to certain of the matters set forth in Section 3(a)(i),
(ii), (iii), (iv) and (v) of the Agreement; provided that any such opinion of counsel may contain customary exceptions and
qualifications, including, without limitation, exceptions and qualifications relating to indemnification provisions.


 


(f) Counterparty understands
that notwithstanding any other relationship between Counterparty and Dealer and its affiliates, in connection with the Transaction
and any other over-the-counter derivative transactions between Counterparty and Dealer or its affiliates, Dealer or its affiliates
is acting as principal and is not a fiduciary or advisor in respect of any such transaction, including any entry, exercise, amendment,
unwind or termination thereof.


 


(g) Each party acknowledges
and agrees to be bound by the Conduct Rules of the Financial Industry Regulatory Authority, Inc. applicable to transactions in
options, and further agrees not to violate the position and exercise limits set forth therein.


 


(h) Counterparty represents
and warrants that it has received, read and understands the OTC Options Risk Disclosure Statement and a copy of the most recent
disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics and Risks of Standardized Options”.


 


8. Other Provisions:


 


(a) Right to Extend.
Dealer may divide any Component into additional Components and designate the Expiration Date and the Number of Options for each
such Component if Dealer reasonably determines based on advice of counsel (which may include Dealer’s in-house counsel),
that such action is reasonably necessary or advisable to preserve Dealer’s commercially reasonable hedging or hedge unwind
activity hereunder in light of existing liquidity conditions (but only to the extent that there is a material decrease in liquidity
relative to Dealer’s expectations on the Trade Date) or to enable Dealer to effect purchases of Shares in connection with
its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Counterparty
or an affiliated purchaser of Counterparty, be in compliance with applicable legal regulatory or self-regulatory requirements,
or with related policies and procedures applicable to Dealer and applied by the Dealer to the Counterparty and the Transaction
in a manner consistent with the application of such policies and procedures to other counterparties similarly situated to Counterparty
and transactions similar to the Transaction; provided that in no event shall any Expiration Date for any Component be postponed
to a date later than the Final Termination Date.


 


(b) Additional Termination
Events. Promptly (but in any event within ten Scheduled Trading Days) following any repurchase, redemption or conversion of
any of Counterparty’s 0% Convertible Senior Notes due 2028 (the “Convertible Notes”) issued pursuant to
Counterparty’s indenture (the “Indenture”) to be dated March 18, 2021, between Counterparty and Computershare
Trust Company, N.A., as trustee, Counterparty may, but is not required to, notify Dealer in writing of such repurchase, redemption,
exchange or conversion and the number of Convertible Notes so repurchased, redeemed, exchanged or converted and the number of Shares
underlying such Convertible Notes (any such notice, a “Repurchase Notice” and any such event, a “Repurchase
Event”). Notwithstanding anything to the contrary in this Confirmation, the receipt by Dealer from Counterparty of (x)
any Repurchase Notice, within the applicable time period set forth in the preceding sentence, and (y) a written representation
and warranty by Counterparty that, as of the date of such Repurchase Notice, Counterparty is not in possession of any material
non-public information regarding Counterparty or the Shares, shall constitute an Additional Termination Event as provided in this
paragraph. Upon and subject to receipt of any such Repurchase Notice and the related written representation and warranty, Dealer
shall promptly designate an Exchange Business Day following receipt of such Repurchase Notice as an Early Termination Date with
respect to the portion of the Transaction corresponding to a number of Options (the “Repurchase Options”) equal
to the lesser of (A) the number of Shares underlying the Convertible Notes applicable to the Transaction that is specified in such
Repurchase Notice minus the “Repurchase
Options” (as defined in the Base Capped Call Transaction Confirmation, dated as of March 15, 2021, between Counterparty and
Dealer relating to the Convertible Notes (the “Base Capped Call Transaction Confirmation”)), if any, that relate
to such Convertible Notes (and for purposes of determining whether any Options under this Confirmation or under the Base Capped
Call Transaction Confirmation shall be among the Repurchase Options hereunder or under, and as defined in, the Base Capped Call
Transaction Confirmation, such Convertible Notes shall be allocated first to the Base Capped Call Transaction Confirmation until
all Options thereunder are exercised or terminated) and (B) the Number of Options as of
the date Dealer designates such Early Termination Date and, as of such date, the aggregate Number of Options shall be reduced
by the number of Repurchase Options on a pro rata basis across the Components for the Transaction, as determined by the Calculation
Agent in a commercially reasonable manner. Any payment hereunder with respect to such termination shall be calculated pursuant
to Section 6 of the Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms
identical to the Transaction and a Number of Options equal to the number of Repurchase Options, (2) Counterparty were the sole
Affected Party with respect to such Additional Termination Event and (3) the terminated portion of the Transaction were the sole
Affected Transaction.


 






    	 	14	 



     


    

 


(c) Alternative
Calculations and Payment on Early Termination and on Certain Extraordinary Events. If (a) an Early Termination Date (whether
as a result of an Event of Default or a Termination Event) occurs or is designated with respect to the Transaction or (b) the Transaction
is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result of (i) a Nationalization, Insolvency
or Merger Event in which the consideration to be paid to all holders of Shares consists solely of cash, (ii) a Merger Event or
Tender Offer that is within Counterparty's control, or (iii) an Event of Default in which Counterparty is the Defaulting Party
or a Termination Event in which Counterparty is the Affected Party, which Event of Default or Termination Event resulted from an
event or events within Counterparty's control), and if Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii)
and 6(e) of the Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a “Payment
Obligation”), then Dealer shall satisfy the Payment Obligation by the Share Termination Alternative (as defined below)
unless (a) Counterparty gives irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no
later than 12:00 noon (New York City time) on the Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization,
Insolvency or Delisting), Early Termination Date or date of cancellation, as applicable, of its election that the Share Termination
Alternative shall not apply, (b) as of the date of such election, Counterparty represents that is not in possession of any material
non-public information regarding Counterparty or the Shares, and that such election is being made in good faith and not as part
of a plan or scheme to evade compliance with the federal securities laws, and (c) Dealer agrees, in its sole commercially reasonable
discretion, to such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions
of Section 6(d)(ii) and 6(e) of the Agreement, as the case may be, shall apply.


 


	 Share Termination Alternative:	If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment.
	Share Termination Delivery Property:	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.



 






    	 	15	 



     


    

 


	Share Termination Unit Price:	The value of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of notification of the Payment Obligation. For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may consider a variety of factors, including the market price of the Share Termination Delivery Units and/or the purchase price paid in connection with the commercially reasonable purchase of Share Termination Delivery Property.
	Share Termination Delivery Unit:	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the “Exchange Property”), a unit consisting of the type and amount of such Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such Nationalization, Insolvency or Merger Event, as determined by the Calculation Agent.
	Failure to Deliver:	Applicable
	Other Applicable Provisions:	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9 and 9.11 (as modified above) of the Equity Definitions and the provisions set forth opposite the caption “Representation and Agreement” in Section 2 will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery Units”.  “Share Termination Settled” in relation to the Transaction means that the Share Termination Alternative is applicable to the Transaction.


 


(d) Disposition
of Hedge Shares. Counterparty hereby agrees that if, in the good faith reasonable judgment of Dealer, based on the advice of
legal counsel, the Shares acquired by Dealer for the purpose of hedging its obligations pursuant to the Transaction (the “Hedge
Shares”) cannot be sold in the U.S. public market by Dealer without registration under the Securities Act, Counterparty
shall, at its election: (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, use its commercially reasonable
efforts to make available to Dealer an effective registration statement under the Securities Act to cover the resale of such Hedge
Shares and (A) enter into an agreement, in form and substance reasonably satisfactory to Dealer, substantially in the form of an
underwriting agreement for a registered offering for companies of a similar size in a similar industry, (B) provide accountant's
 “comfort” letters in customary form for registered offerings of equity securities for companies of a similar size in
a similar industry, (C) provide disclosure opinions of nationally recognized outside counsel to Counterparty in customary form
for registered offerings of equity securities for companies of a similar size in a similar industry, (D) provide other customary
opinions, certificates and closing documents customary in form for registered offerings of equity securities for companies of a
similar size in a similar industry and (E) afford Dealer a reasonable opportunity to conduct a “due diligence” investigation
with respect to Counterparty customary in scope for underwritten offerings of equity securities for companies of a similar size
in a similar industry; provided, however, that, if Counterparty elects clause (i) above but Dealer, in its commercially
reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence investigation,
or the procedures and documentation for the registered offering referred to above, then clause (ii) or clause (iii) of this Section
8(d) shall apply at the election of Counterparty; (ii) in order to allow Dealer to sell the Hedge Shares in a private placement,
enter into a private placement agreement substantially similar to private placement purchase agreements customary for private placements
of equity securities of companies of a similar size in a similar industry, in form and substance commercially reasonably satisfactory
to Dealer using best commercially reasonable efforts to include customary representations, covenants, blue sky and other governmental
filings and/or registrations, indemnities to Dealer, due diligence rights (for Dealer or any designated buyer of the Hedge Shares
from Dealer), opinions and certificates and such other documentation as is customary for private placements agreements of equity
securities of companies of a similar size in a similar industry, as is reasonably acceptable to Dealer (in which case, the Calculation
Agent shall make any adjustments to the terms of the Transaction that are necessary, in its good faith and commercially reasonable
judgment, to compensate Dealer for any customary liquidity discount from the public market price of the Shares incurred on the
sale of Hedge Shares in a private placement); or (iii) purchase the Hedge Shares from Dealer at the Relevant Price on such Exchange
Business Days, and in the amounts, requested by Dealer.


 



    	 	16	 



     


    




 


(e) Repurchase Notices.
Counterparty shall, at least one Scheduled Valid Day prior to any day on which Counterparty intends to effect any repurchase of
Shares, give Dealer written notice of such repurchase (a “Repurchase Notice”) on such day if, following such
repurchase, the Notice Percentage would reasonably be expected to be (i) greater than 1.8414% and (ii) greater by 0.5% than the
Notice Percentage included in the immediately preceding Repurchase Notice (or, in the case of the first such Repurchase Notice,
greater than the Notice Percentage as of the date hereof); provided that, in the case of any repurchases of Shares pursuant
to a plan under Rule 10b5-1 under the Exchange Act, Counterparty may elect to satisfy such requirement by promptly giving Dealer
written notice of entry into such plan, the maximum number of Shares that may be purchased thereunder and the approximate dates
or periods during which such repurchases may occur (with such maximum number of Shares deemed repurchased on the date of such notice
for purposes of this Section 8(e)). The “Notice Percentage” as of any day is the fraction, expressed as a percentage,
the numerator of which is the aggregate Number of Shares plus the number of Shares underlying any other capped call transactions
sold by Dealer to Counterparty and the denominator of which is the number of Shares outstanding on such day. In the event that
Counterparty fails to provide Dealer with a Repurchase Notice on the day and in the manner specified in this Section 8(e) then
Counterparty agrees to indemnify and hold harmless Dealer, its affiliates and their respective directors, officers, employees,
agents and controlling persons (Dealer and each such person being an “Indemnified Party”) from and against any
and all losses (including losses relating to Dealer's commercially reasonable hedging activities as a consequence of becoming,
or of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities
or cessation of hedging activities and any losses in connection therewith with respect to the Transaction), claims, damages and
liabilities (or actions in respect thereof), joint or several, to which such Indemnified Party may become subject under applicable
securities laws, including without limitation, Section 16 of the Exchange Act or under any U.S. state or federal law, regulation
or regulatory order, in each case relating to or arising out of such failure. If any Indemnified Person fails to promptly notify
Counterparty of any action commenced against it in respect of which indemnity may be sought hereunder, Counterparty shall be relieved
from liability to the extent Counterparty is materially prejudiced as a result of such failure. If for any reason the foregoing
indemnification is unavailable to any Indemnified Party or insufficient to hold harmless any Indemnified Party, then Counterparty
shall contribute, to the maximum extent permitted by law, to the amount paid or payable by the Indemnified Party as a result of
such loss, claim, damage or liability. In addition, Counterparty will reimburse any Indemnified Party for all reasonable expenses
(including reasonable and documented counsel fees and expenses of one counsel and no more than one required local counsel in each
relevant jurisdiction) as they are incurred (after notice to Counterparty) in connection with the investigation of, preparation
for or defense or settlement of any pending or threatened claim or any action, suit or proceeding arising therefrom, whether or
not such Indemnified Party is a party thereto and whether or not such claim, action, suit or proceeding is initiated or brought
by or on behalf of Counterparty, in each case relating to or arising out of such failure. This indemnity shall survive the completion
of the Transaction contemplated by this Confirmation and any assignment and delegation of the Transaction made pursuant to this
Confirmation or the Agreement shall inure to the benefit of any permitted assignee of Dealer. Counterparty will not be liable under
this indemnity provision to the extent any loss, claim, damage, liability or expense is found in a final judgment by a court to
have resulted from Dealer’s gross negligence or willful misconduct.


 


(f) Transfer and
Assignment.


 






    	 	17	 



     


    

 


(i)        Dealer
may transfer or assign any of its rights or obligations under the Transaction with the prior written consent of Counterparty, such
consent not to be unreasonably withheld or delayed; provided that Dealer may transfer or assign without any consent of Counterparty
its rights and obligations hereunder, in whole or in part, to (A) any affiliate of Dealer whose obligations would be guaranteed
by Dealer [or Dealer Parent] or (B) any person (including any affiliate of Dealer whose obligations are not guaranteed in the manner
described in clause (A)) or any person whose obligations would be guaranteed by a person (a “Designated Transferee”),
in either case under this clause (B), with a rating for its long-term, unsecured and unsubordinated indebtedness at least equivalent
to Dealer's (or its guarantor's), provided, however, that, in the case of this clause (B), in no event shall the
credit rating of the Designated Transferee or of its guarantor (whichever is higher) be lower than A3 from Moody's Investor Service,
Inc. or its successor or A- from Standard and Poor's Rating Group, Inc. or its successor; provided further that (i) Dealer
will notify Counterparty in writing promptly following any transfer or assignment to a Designated Transferee, (ii) as a result
of any such transfer or assignment, Counterparty will not be required to pay the transferee or assignee of such rights or obligations
on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than the amount, if any, that Counterparty would
have been required to pay Dealer in the absence of such transfer or assignment, (iii) after such transfer, Counterparty will not,
as a result of any withholding or deduction made by the transferee or assignee as a result of any Tax, receive from the transferee
or assignee on any payment date or delivery date (after accounting for amounts paid by the transferee or assignee under Section
2(d)(i)(4) of the Agreement as well as such withholding or deduction) an amount or a number of Shares, as applicable, lower than
the amount or the number of Shares, as applicable, that Dealer would have been required to pay or deliver to Counterparty in the
absence of such Transfer, (iv) such transfer or assignment does not cause a deemed exchange for Counterparty of the Transactions
under Section 1001 of the Internal Revenue Code of 1986, as amended (the “Code”), and (v) prior to becoming
a party to the Transaction, the transferee or assignee shall have made the Payee Tax Representations and provided such tax documentation
as may be reasonably requested by Counterparty to permit Counterparty to determine that results described in clauses (ii) through
(iv) of the immediately preceding proviso will not occur upon or after such transfer and assignment . If at any time at which (1)
the Equity Percentage exceeds 8.0% or (2) Dealer, Dealer Group (as defined below) or any person whose ownership position would
be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”)
under Sections 78.411-444 of the Nevada Revised Statutes or other federal, state or local law, rule, regulation or regulatory order
or organizational documents or contracts of Counterparty applicable to ownership of Shares (except for any requirement to file
any Form 13F, Schedule 13D or Schedule 13G under the Exchange Act) (“Applicable Restrictions”), owns, beneficially
owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of
a number of Shares equal to (x) the number of Shares that would give rise to reporting, registration, filing or notification obligations
or other requirements (including obtaining prior approval by a state or federal regulator) of a Dealer Person under Applicable
Restrictions and with respect to which such requirements have not been met or the relevant approval has not been received minus
(y) 1% of the number of Shares outstanding on the date of determination (either such condition described in clause (1) or (2),
an “Excess Ownership Position”), if Dealer, in its reasonable discretion, is unable to effect a transfer or
assignment to a third party in accordance with the requirements set forth above after its commercially reasonable efforts on pricing
and terms and within a time period reasonably acceptable to Dealer such that an Excess Ownership Position no longer exists, Dealer
may designate any Scheduled Valid Day as an Early Termination Date with respect to a portion (the “Terminated Portion”)
of the Transaction, such that an Excess Ownership Position no longer exists following such partial termination. In the event that
Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment or delivery shall be made
pursuant to Section 6 of the Agreement and Section 8(c) of this Confirmation as if (i) an Early Termination Date had been designated
in respect of a Transaction having terms identical to the Terminated Portion of the Transaction, (ii) Counterparty were the sole
Affected Party with respect to such partial termination, (iii) such portion of the Transaction were the only Terminated Transaction
and (iv) Dealer were the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement and to
determine the amount payable pursuant to Section 6(e) of the Agreement. The “Equity Percentage” as of any day
is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates
subject to aggregation with Dealer for purposes of the “beneficial ownership” test under Section 13 of the Exchange
Act and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) with Dealer
(collectively, “Dealer Group”) “beneficially own” (within the meaning of Section 13 of the Exchange
Act) without duplication on such day and (B) the denominator of which is the number of Shares outstanding on such day.


 






    	 	18	 



     


    

 


(ii)        Counterparty
may transfer or assign any of its rights or obligations under the Transaction with the prior written consent of Dealer, such consent
not to be unreasonably withheld or delayed. In the case of a transfer or assignment by Counterparty of its rights and obligations
hereunder and under the Agreement, in whole or in part (any such Options so transferred or assigned, the “Transfer Options”),
to any party, withholding of such consent by Dealer shall not be considered unreasonable if such transfer or assignment does not
meet the reasonable conditions that Dealer may impose including, but not limited to, the following conditions:


 


(A) With
respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification obligations pursuant to
Section 8(e) or any obligations under Section 2 (regarding Extraordinary Events) or 8(d) of this Confirmation;


 


(B) Any
Transfer Options shall only be transferred or assigned to a third party that is a U.S. person (as defined in the Code);


 


(C) Such
transfer or assignment shall be effected on terms, including any reasonable undertakings by such third party (including, but not
limited to, undertakings with respect to compliance with applicable securities laws in a manner that, in the reasonable judgment
of Dealer, will not expose Dealer to material risks under applicable securities laws) and execution of any documentation and delivery
of customary legal opinions with respect to securities laws and other matters by such third party and Counterparty as are reasonably
requested and reasonably satisfactory to Dealer;


 


(D) Dealer
will not, as a result of such transfer and assignment, be required to pay the transferee on any payment date an amount under Section
2(d)(i)(4) of the Agreement greater than an amount that Dealer would have been required to pay to Counterparty in the absence of
such transfer and assignment;


 


(E) An Event
of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and assignment;


 


(F) Without
limiting the generality of clause (B), Counterparty shall have caused the transferee to make such Payee Tax Representations and
to provide such tax documentation as may be reasonably requested by Dealer to permit Dealer to determine that results described
in clauses (B) and (D) will not occur upon or after such transfer and assignment; and


 


(G) Counterparty
shall be responsible for all reasonable costs and expenses, including reasonable counsel fees, incurred by Dealer in connection
with such transfer or assignment.


 


(iii)        Notwithstanding
any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any
Shares or other securities, or make or receive any payment in cash, to or from Counterparty, Dealer may designate any of its affiliates
to purchase, sell, receive or deliver such Shares or other securities, or to make or receive such payment in cash, and otherwise
to perform Dealer’s obligations in respect of the Transaction and any such designee may assume such obligations. Dealer shall
be discharged of its obligations to Counterparty solely to the extent of any such performance


 


(g) Staggered Settlement.
If Dealer determines reasonably and in good faith that the number of Shares required to be delivered to Counterparty hereunder
on any Settlement Date would result in an Excess Ownership Position, then Dealer may, by notice to Counterparty prior to such Settlement
Date (a “Nominal Settlement Date”), elect to deliver any Shares due to be delivered on two or more dates (each,
a “Staggered Settlement Date”) or at two or more times on the Nominal Settlement Date as follows:


 


(i) in such
notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (each of which will be on or prior to the 20th
Exchange Business Day after such Nominal Settlement Date) or delivery times and how it will allocate the Shares it is required
to deliver under “Delivery Obligation” (above) among the Staggered Settlement Dates or delivery times; and


 


(ii) the
aggregate number of Shares that Dealer will deliver to Counterparty hereunder on all such Staggered Settlement Dates and delivery
times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date; provided
that in no event shall any Staggered Settlement Date be a date later than the Final Termination Date.


 






    	 	19	 



     


    




 


(h) Disclosure.
Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each of its employees, representatives,
or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the
Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Counterparty relating
to such tax treatment and tax structure.


 


(i) No Netting and
Set-off. The provisions of Section 2(c) of the Agreement shall not apply to the Transaction. Each party waives any and all
rights it may have to set-off delivery or payment obligations it owes to the other party under the Transaction against any delivery
or payment obligations owed to it by the other party, whether arising under the Agreement, under any other agreement between parties
hereto, by operation of law or otherwise.


 


(j) Equity Rights.
Dealer acknowledges and agrees that this Confirmation is not intended to convey to it rights with respect to the Transaction that
are senior to the claims of common stockholders in the event of Counterparty's bankruptcy. For the avoidance of doubt, the parties
agree that the preceding sentence shall not apply at any time other than during Counterparty's bankruptcy to any claim arising
as a result of a breach by Counterparty of any of its obligations under this Confirmation or the Agreement. For the avoidance of
doubt, the parties acknowledge that the obligations of Counterparty under this Confirmation are not secured by any collateral that
would otherwise secure the obligations of Counterparty herein under or pursuant to any other agreement.


 


(k) Early Unwind.
In the event the sale of the Additional Securities (as defined in the Purchase Agreement, dated as of March 15, 2021, among Morgan
Stanley & Co. LLC, as representative of the several initial purchasers thereto, and Counterparty (the “Purchase Agreement”))
is not consummated pursuant to the Purchase Agreement for any reason by the close of business in New York on March 18, 2021 (or
such later date as agreed upon by the parties which in no event shall be later than the second Scheduled Valid Day following March
18, 2021) (such date or such later date as agreed upon being the “Early Unwind Date”), the Transaction shall
automatically terminate on the Early Unwind Date and (i) the Transaction and all of the respective rights and obligations
of Dealer and Counterparty under the Transaction shall be cancelled and terminated and (ii) each party shall be released and
discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or
liabilities of the other party arising out of and to be performed in connection with the Transaction either prior to or after the
Early Unwind Date.


 


(l) Illegality.
The parties agree that, for the avoidance of doubt, for purposes of Section 5(b)(i) of the Agreement, “any applicable law”
shall include the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, any rules and regulations promulgated thereunder
and any similar law or regulation, without regard to Section 739 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
of 2010 or any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the
Trade Date, and the consequences specified in the Agreement, including without limitation, the consequences specified in Section
6 of the Agreement, shall apply to any Illegality arising from any such act, rule or regulation.


 


(m) Amendments to
Equity Definitions and the Agreement. The following amendments shall be made to the Equity Definitions:


 


(i) solely
for purposes of applying the Equity Definitions and for purposes of this Confirmation, any reference in the Equity Definitions
to a Strike Price shall be deemed to be a reference to either of the Strike Price or the Cap Price, or both, as appropriate;


 


(ii) for
the purpose of any adjustment under Section 11.2(c) of the Equity Definitions, the first sentence of Section 11.2(c) of the Equity
Definitions, prior to clause (A) thereof, is hereby amended to read as follows: (c) If “Calculation Agent Adjustment”
is specified as the Method of Adjustment in the related Confirmation of a Share Option Transaction, then following the announcement
or occurrence of any Potential Adjustment Event, the Calculation Agent will determine whether such Potential Adjustment Event has,
in the commercially reasonable judgment of the Calculation Agent, a material economic effect on the theoretical value of the relevant
Shares or options on the Shares (provided that such event is not based on (x) an observable market, other than the market
for Counterparty’s own stock or (y) an observable index, other than an index calculated and measured solely by reference
to Counterparty’s own operations) and, if so, will (i) make appropriate adjustment(s), if any, determined in a commercially
reasonable manner, to any one or more of: and, the portion of such sentence immediately preceding clause (ii) thereof is hereby
amended by deleting the words “diluting or concentrative” and the words “(provided that no adjustments
will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant
Shares)” and replacing such latter phrase with the words “(provided that, solely in the case of Sections 11.2(e)(i),
(ii)(A), (iv) and (v), no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan
rate or liquidity relative to the relevant Shares but, for the avoidance of doubt, solely in the case of Sections 11.2(e)(ii)(B)
through (D), (iii) (vi) and (vii) adjustments may be made to account solely for changes in volatility, expected dividends, stock
loan rate or liquidity relative to the relevant Shares)”;


 






    	 	20	 



     


    




 


(iii) Section
11.2(a) of the Equity Definitions is hereby amended by (1) deleting the words “in the determination of the Calculation Agent,
a diluting or concentrative effect” and replacing these words with “in the commercially reasonable judgment of the
Calculation Agent, a material economic effect”; and (2) adding at the end thereof “; provided that such
event is not based on (i) an observable market, other than the market for Counterparty’s own stock or (ii) an observable
index, other than an index calculated and measured solely by reference to Counterparty’s own operations”;


 


(iv) Section
11.2(e)(vii) of the Equity Definitions is hereby amended and restated as follows: “any other corporate event involving the
Issuer that in the commercially reasonable judgment of the Calculation Agent has a material economic effect on the theoretical
value of the Shares or options on the Shares; provided that such corporate event involving the Issuer is not based on (a)
an observable market, other than the market for Counterparty’s own stock or (b) an observable index, other than an index
calculated and measured solely by reference to Counterparty’s own operations.”; and


 


(v) Section
12.7(b) of the Equity Definitions is hereby amended by deleting the words “(and in any event within five Exchange Business
Days) by the parties after” appearing after the words “agreed promptly” and replacing with the words “by
the parties on or prior to”.


 


(n) Governing Law;
Exclusive Jurisdiction.


 


(i) THE
AGREEMENT, THIS CONFIRMATION AND ALL MATTERS ARISING IN CONNECTION WITH THE AGREEMENT AND THIS CONFIRMATION SHALL BE GOVERNED BY,
AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CHOICE OF LAW DOCTRINE,
OTHER THAN TITLE 14 OF ARTICLE 5 OF THE NEW YORK GENERAL OBLIGATIONS LAW).


 


(ii) Section
13(b) of the Agreement is deleted in its entirety and replaced by the following:


 


“Each
party hereby irrevocably and unconditionally submits for itself and its property in any suit, legal action or proceeding relating
to this Confirmation or the Agreement, or for recognition and enforcement of any judgment in respect thereof, (each, “Proceedings”)
to the exclusive jurisdiction of the Supreme Court of the State of New York, sitting in New York County, the courts of the United
States of America for the Southern District of New York and appellate courts from any thereof. Nothing in this Confirmation or
the Agreement precludes either party from bringing Proceedings in any other jurisdiction if (A) the courts of the State of New
York or the United States of America for the Southern District of New York lack jurisdiction over the parties or the subject matter
of the Proceedings or decline to accept the Proceedings on the grounds of lacking such jurisdiction; (B) the Proceedings are commenced
by a party for the purpose of enforcing against the other party’s property, assets or estate any decision or judgment rendered
by any court in which Proceedings may be brought as provided hereunder; (C) the Proceedings are commenced to appeal any such court’s
decision or judgment to any higher court with competent appellate jurisdiction over that court’s decisions or judgments if
that higher court is located outside the State of New York or Borough of Manhattan, such as a federal court of appeals or the U.S.
Supreme Court; or (D) any suit, action or proceeding has been commenced in another jurisdiction by or against the other party or
against its property, assets or estate and, in order to exercise or protect its rights, interests or remedies under this Confirmation
or the Agreement, the party (1) joins, files a claim, or takes any other action, in any such suit, action or proceeding, or (2)
otherwise commences any Proceeding in that other jurisdiction as the result of that other suit, action or proceeding having commenced
in that other jurisdiction.”


 






    	 	21	 



     


    

 


(o) Adjustments.
For the avoidance of doubt, whenever the Calculation Agent or Determining Party is called upon to make any calculation, determination
or adjustment pursuant to the terms of this Confirmation or the Equity Definitions to take into account the effect of an event,
the Calculation Agent or Determining Party shall make such calculation, determination or adjustment by reference to the effect
of such event on the Hedging Party, assuming that the Hedging Party maintains a commercially reasonable hedge position.


 


(p) Delivery or
Receipt of Cash. For the avoidance of doubt, other than payment of the Premium by Counterparty, nothing in this Confirmation
shall be interpreted as requiring Counterparty to cash settle the Transaction, except in circumstances where cash settlement is
within Counterparty’s control (including, without limitation, where Counterparty elects to deliver or receive cash) or in
those circumstances in which holders of Shares would also receive cash.


 


(q) Waiver of Jury
Trial. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING
OUT OF OR RELATING TO THE AGREEMENT, THIS CONFIRMATION OR ANY TRANSACTIONS CONTEMPLATED HEREBY. 


 


(r) Amendment.
This Confirmation and the Agreement may not be modified, amended or supplemented, except in a written instrument signed by Counterparty
and Dealer.


 


(s) Counterparts.
This Confirmation may be executed in several counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument.


 


(t) Tax Matters.



 


(i) Payee
Tax Representations.


 


For the purpose
of Section 3(f) of the Agreement, Counterparty makes the following representation to Dealer:


 


Counterparty
is a corporation and a U.S. person (as that term is defined in Section 7701(a)(30) of the Code and used in Section 1.1441-4(a)(3)(ii)
of the Treasury Regulations) for U.S. federal income tax purposes.


 


For the purpose
of Section 3(f) of the Agreement, Dealer makes the following representation to Counterparty:


 


[Dealer representation]


 


(ii) Tax
Documentation. For the purpose of Sections 4(a)(i) and (ii) of the Agreement, Counterparty agrees to deliver to Dealer one
duly executed and completed United States Internal Revenue Service Form W-9 (or successor thereto) and Dealer agrees to deliver
to Counterparty, as applicable, a U.S. Internal Revenue Service Form W-9 (or successor thereto). Such forms or documents shall
be delivered upon (i) execution of this Confirmation, (ii) Counterparty or Dealer, as applicable, learning that any such tax form
previously provided by it has become obsolete or incorrect, and (iii) reasonable request of the other party.


 


(u) Withholding
Tax imposed on payments to non-US counterparties under the United States Foreign Account Tax Compliance Act. “Indemnifiable
Tax”, as defined in Section 14 of the Agreement, shall not include any U.S. federal withholding tax imposed or collected
pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any
agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted
pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a
 "FATCA Withholding Tax"). For the avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding
of which is required by applicable law for the purposes of Section 2(d) of the Agreement.


 






    	 	22	 



     


    

 


(v) [HIRE Act. 
 “Indemnifiable Tax”, as defined in Section 14 of the Agreement, shall not include any tax imposed on payments treated
as dividends from sources within the United States under Section 871(m) of the Code or any regulations issued thereunder. For the
avoidance of doubt, any such tax imposed under Section 871(m) of the Code is a Tax the deduction or withholding of which is required
by applicable law for the purposes of Section 2(d) of the Agreement.]


 


(w) Wall Street
Transparency and Accountability Act. In connection with Section 739 of the Wall Street Transparency and Accountability Act
of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the
WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, shall limit or otherwise impair either party’s otherwise
applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising
from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation,
the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law,
Hedging Disruption, an Excess Ownership Position, or Illegality (as defined in the Agreement)).


 


(x) [QFC Stay Rules.
The parties agree that (i) to the extent that prior to the date hereof both parties have adhered to the 2018 ISDA U.S. Resolution
Stay Protocol (the “Protocol”), the terms of the Protocol are incorporated into and form a part of this Confirmation,
and for such purposes this Confirmation shall be deemed a Protocol Covered Agreement, and each party shall be deemed to have the
same status as Regulated Entity and/or Adhering Party as applicable to it under the Protocol; (ii) to the extent that prior to
the date hereof the parties have executed a separate agreement the effect of which is to amend the qualified financial contracts
between them to conform with the requirements of the QFC Stay Rules (the “Bilateral Agreement”), the terms of
the Bilateral Agreement are incorporated into and form a part of this Confirmation and each party shall be deemed to have the status
of “Covered Entity” or “Counterparty Entity” (or other similar term) as applicable to it under the Bilateral
Agreement; or (iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the related defined terms
(together, the “Bilateral Terms”) of the form of bilateral template entitled “Full-Length Omnibus (for
use between U.S. G-SIBs and Corporate Groups)” published by ISDA on November 2, 2018 (currently available on the 2018 ISDA
U.S. Resolution Stay Protocol page at www.isda.org and a copy of which is available upon request), the effect of which is
to amend the qualified financial contracts between the parties thereto to conform with the requirements of the QFC Stay Rules,
are hereby incorporated into and form a part of this Confirmation, and for such purposes this Confirmation shall be deemed a “Covered
Agreement,” Dealer shall be deemed a “Covered Entity” and Counterparty shall be deemed a “Counterparty
Entity.” In the event that, after the date of this Confirmation, both parties hereto become adhering parties to the Protocol,
the terms of the Protocol will replace the terms of this paragraph. In the event of any inconsistencies between this Confirmation
and the terms of the Protocol, the Bilateral Agreement or the Bilateral Terms (each, the “QFC Stay Terms”),
as applicable, the QFC Stay Terms will govern. Terms used in this paragraph without definition shall have the meanings assigned
to them under the QFC Stay Rules. For purposes of this paragraph, references to “this Confirmation” include any related
credit enhancements entered into between the parties or provided by one to the other. In addition, the parties agree that the terms
of this paragraph shall be incorporated into any related covered affiliate credit enhancements, with all references to Dealer replaced
by references to the covered affiliate support provider.


 


“QFC Stay Rules”
means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to limited
exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act
and the Orderly Liquidation Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection Act and the override
of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions
on the transfer of any covered affiliate credit enhancements.]


 


(y) [Dealer
Boilerplate]


 




    	 	23	 



     


    


 


Please confirm that the foregoing correctly
sets forth the terms of our agreement by sending to us a letter or telex substantially similar to this facsimile, which letter
or telex sets forth the material terms of the Transaction to which this Confirmation relates and indicates your agreement to those
terms.


 


 





	 	Yours faithfully,
	 	 	 
	 	[DEALER]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 





 


 


Agreed and Accepted By:


 


DRAFTKINGS INC., a Nevada corporation 


 


	By:	 	 
	 	Name:	 
	 	Title:	 





 






    	 	24	 



     


    

 


Annex A


 


For each Component of the Transaction, the Number of Options
and Expiration Date is set forth below.


 


	Component Number	Number of Options	Expiration Date
	1	[   ]	Fri 14-Jan-28
	2	[   ]	Tue 18-Jan-28
	3	[   ]	Wed 19-Jan-28
	4	[   ]	Thu 20-Jan-28
	5	[   ]	Fri 21-Jan-28
	6	[   ]	Mon 24-Jan-28
	7	[   ]	Tue 25-Jan-28
	8	[   ]	Wed 26-Jan-28
	9	[   ]	Thu 27-Jan-28
	10	[   ]	Fri 28-Jan-28
	11	[   ]	Mon 31-Jan-28
	12	[   ]	Tue 01-Feb-28
	13	[   ]	Wed 02-Feb-28
	14	[   ]	Thu 03-Feb-28
	15	[   ]	Fri 04-Feb-28
	16	[   ]	Mon 07-Feb-28
	17	[   ]	Tue 08-Feb-28
	18	[   ]	Wed 09-Feb-28
	19	[   ]	Thu 10-Feb-28
	20	[   ]	Fri 11-Feb-28
	21	[   ]	Mon 14-Feb-28
	22	[   ]	Tue 15-Feb-28
	23	[   ]	Wed 16-Feb-28
	24	[   ]	Thu 17-Feb-28
	25	[   ]	Fri 18-Feb-28
	26	[   ]	Tue 22-Feb-28
	27	[   ]	Wed 23-Feb-28
	28	[   ]	Thu 24-Feb-28
	29	[   ]	Fri 25-Feb-28
	30	[   ]	Mon 28-Feb-28
	31	[   ]	Tue 29-Feb-28
	32	[   ]	Wed 01-Mar-28
	33	[   ]	Thu 02-Mar-28
	34	[   ]	Fri 03-Mar-28
	35	[   ]	Mon 06-Mar-28
	36	[   ]	Tue 07-Mar-28
	37	[   ]	Wed 08-Mar-28
	38	[   ]	Thu 09-Mar-28
	39	[   ]	Fri 10-Mar-28
	40	[   ]	Mon 13-Mar-28


 






    	 	25