Exhibit 10.1


 


Subscription Agreement


 


 


This subscription agreement (this “Subscription”)
is dated April 5, 2019, by and between the investor identified on the signature page hereto (the “Investor”)
and Chicken Soup for the Soul Entertainment, Inc., a Delaware corporation (the “Company”), whereby the parties
agree as follows:


 


WHEREAS, the Company desires to sell, and
the Investor desires to purchase shares of the Company’s 9.75% Series A cumulative redeemable preferred stock (“Series
A Preferred Stock”).


 


NOW, THEREFORE, in consideration of the
mutual agreements contained herein, the parties hereto agree as follows:


 


		1.	Subscription.



 


(a)               
Investor agrees to buy and, subject to acceptance as provided below, the Company agrees to sell and issue to Investor, such
number of shares (the “Shares”) of the Series A Preferred Stock as are set forth on the signature page hereto,
for the aggregate purchase price set forth on the signature page hereto (the “Purchase Price”).


 


(b)               
The Shares have been registered pursuant to a Registration Statement on Form S-3, Registration No. 333-227596, which registration
statement (the “Registration Statement”) has been declared effective by the Securities and Exchange Commission
and is effective on the date hereof. A final prospectus supplement will be delivered as required by law.


 


(c)               
The Company may accept this Subscription at any time for all or any portion of the Shares subscribed for by executing a
copy hereof as provided and notifying the Investor within a reasonable time thereafter. The Company has the right to reject this
subscription for the Series A Preferred Stock, in whole or in part for any reason and at any time prior to the Closing (as defined
below) thereon, notwithstanding prior receipt by the Investor of notice of acceptance of the Investor’s subscription. In
the event the Investor’s subscription is rejected, the Investor’s payment will be returned from escrow promptly to
the Investor without interest or deduction and this Subscription will have no force or effect. The Shares subscribed for herein
will not be deemed issued to or owned by the Investor until one copy of this Subscription has been executed by the Investor and
countersigned by the Company and the Closing with respect to the Investor’s subscription has occurred.


 


(d)               
Provided that the full Purchase Price and a completed and manually executed copy of this Subscription have been tendered
and not returned in accordance with Section 2, the closing of Investor’s purchase of the Shares shall occur on or prior to
April 5, 2019, which date may be extended by up to five business days by the Company without notice to the Investor (such date,
as may be extended, the “Closing Date”). Promptly thereafter, the Company shall cause the Shares to be delivered
to the Investor, which delivery shall be made by delivery of physical certificates to Investor, or if so designated, through the
facilities of The Depository Trust Company’s DWAC system in accordance with the instructions set forth on the Investor’s
signature page attached hereto under the heading “DWAC Instructions.”


 


2.                  
Investor Delivery of Documents and Payment. The Investor hereby tenders to the Company (i) the full Purchase Price
by check or wire transfer and (ii) one completed and manually executed copy of this Subscription. In the event that the sale of
Shares are not consummated for any reason, the Purchase Price will be returned to the investor without interest or deduction.


 






    	 



    	 



    

 


3.                  
Company Representations and Warranties.  The Company represents and warrants that: (a) it has full corporate
power and authority to enter into this Subscription and to perform all of its obligations hereunder; (b) this Subscription has
been duly authorized and executed by and, when delivered in accordance with the terms hereof, will constitute a valid and binding
agreement of the Company enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the rights and remedies of creditors generally or subject to general
principles of equity; (c) the execution and delivery of this Subscription and the consummation of the transactions contemplated
hereby do not conflict with or result in a breach of (i) the Company’s Amended and Restated Certificate of Incorporation
(including the Certificate of Designations of the Series A Preferred Stock) or Bylaws, or (ii) any material agreement to which
the Company is a party or by which any of its property or assets is bound; (d) the Shares when issued and paid for in accordance
with the terms of this Subscription will be duly authorized, validly issued, fully paid and non-assessable; (e) the Registration
Statement and any post-effective amendment thereto, at the time it became effective, did not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(f) the prospectus contained in the Registration Statement, as amended or supplemented, did not contain as of the effective date
thereof, and as of the date hereof does not contain, any untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading; and (g) all
preemptive rights or rights of first refusal held by stockholders of the Company and applicable to the transactions contemplated
hereby have been duly satisfied or waived in accordance with the terms of the agreements between the Company and such stockholders
conferring such rights.


 


		4.	Investor Representations, Warranties and Acknowledgments.



 


(a)               
The Investor represents and warrants that: (i) it has full right, power and authority to enter into this Subscription and
to perform all of its obligations hereunder; (ii) this Subscription has been duly authorized and executed by the Investor and ,
when delivered in accordance with the terms hereof, will constitute a valid and binding agreement of the Investor enforceable against
the Investor in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting the rights and remedies of creditors generally or subject to general principles of equity;
(iii) the execution and delivery of this Subscription and the consummation of the transactions contemplated hereby do not conflict
with or result in a breach of (A) the Investor’s certificate of incorporation or by-laws (or other governing documents),
or (B) any material agreement or any law or regulation to which the Investor is a party or by which any of its property or assets
is bound; (iv) it has had full access to the base prospectus included in the Registration Statement and the Company’s periodic
reports and other information incorporated by reference therein, and was able to read, review, download and print such materials;
(v) in making its investment decision in this offering, the Investor and its advisors, if any, have relied solely on the Company’s
public filings with the Securities and Exchange Commission; (vi) it is knowledgeable, sophisticated and experienced in making,
and is qualified to make, decisions with respect to investments in securities representing an investment decision like that involved
in the purchase of the Shares; and (vii) except as set forth below, the Investor is not a, and it has no direct or indirect affiliation
or association with any, National Association of Securities Dealers, Inc. member as of the date hereof.


 


Exceptions:


 






 


 








 



(If no exceptions, write “none.”
If left blank, response will be deemed to be “none.”)


 


(b)               
The Investor also represents and warrants that, other than the transactions contemplated hereunder, the Investor has not
directly or indirectly, nor has any person acting on behalf of or pursuant to any understanding with the Investor, executed any
disposition, including “short sales” as defined in Rule 200 of Regulation SHO under the Securities Exchange Act of
1934 (the “Short Sales”), in the securities of the Company during the period commencing from the time that the
Investor first became aware of the proposed transactions contemplated hereunder until the date hereof (“Discussion Time”).
The Investor has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the
existence and terms of this transaction).


 






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5.                  
Investor Covenant Regarding Short Sales and Confidentiality. The Investor covenants that neither it nor any affiliates
acting on its behalf or pursuant to any understanding with it will execute any Short Sales or other disposition of securities of
the Company during the period after the Discussion Time and ending at the time that the transactions contemplated by this Subscription
are first publicly announced through a press release and/or Form 8-K. The Investor covenants that until such time as the transactions
contemplated by this Subscription are publicly disclosed by the Company through a press release and/or Form 8-K, the Investor will
maintain the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms
of this transaction).


 


		6.	Miscellaneous.



 


(a)               
The Company will reimburse Investor $140,000 for due diligence fees in connection with this transaction. This Subscription
constitutes the entire understanding and agreement between the parties with respect to its subject matter, and there are no agreements
or understandings with respect to the subject matter hereof which are not contained in this Subscription. This Subscription may
be modified only in writing signed by the parties hereto.


 


(b)               
This Subscription may be executed in any number of counterparts, all of which taken together shall constitute one and the
same instrument and shall become effective when counterparts have been signed by each party and delivered to the other parties
hereto, it being understood that all parties need not sign the same counterpart.  Execution may be made by delivery by facsimile.


 


(c)               
The provisions of this Subscription are severable and, in the event that any court or officials of any regulatory agency
of competent jurisdiction shall determine that any one or more of the provisions or part of the provisions contained in this Subscription
shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision or part of a provision of this Subscription and this Subscription shall be reformed and construed
as if such invalid or illegal or unenforceable provision, or part of such provision, had never been contained herein, so that such
provisions would be valid, legal and enforceable to the maximum extent possible, so long as such construction does not materially
adversely effect the economic rights of either party hereto.


 


(d)               
All communications hereunder, except as may be otherwise specifically provided herein, shall be in writing and shall be
mailed, hand delivered, sent by a recognized overnight courier service such as Federal Express, or sent via facsimile and confirmed
by letter, to the party to whom it is addressed at the following addresses or such other address as such party may advise the other
in writing:


 





To the Seller:  as set forth on the signature
page hereto.


 


To the Buyer:  as set forth on the signature
page hereto.


 


All notices hereunder shall be effective upon receipt by the
party to which it is addressed.


 


(e)               
This Subscription shall be governed by and interpreted in accordance with the laws of the State of Connecticut for contracts
to be wholly performed in such state and without giving effect to the principles thereof regarding the conflict of laws. 
To the extent determined by such court, the prevailing party shall reimburse the other party for any reasonable legal fees and
disbursements incurred in enforcement of, or protection of any of its rights under this Subscription.


 






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If the foregoing correctly sets forth our
agreement, please confirm this by signing and returning to us the duplicate copy of this Subscription.


 


	 	CHICKEN SOUP FOR THE SOUL ENTERTAINMENT, INC. 	 
	 	 	 	 
	 	 	 	 
	 	By:	 /s/ William J. Rouhana, Jr.	 
	 	 	Name: William J. Rouhana, Jr.	 
	 	 	Title: Chief Executive Officer	



 


	
        Number of Shares: 80,000

         

        Purchase Price Per Share: $25.00

         

        Aggregate Purchase Price:
        $2,000,000
	 	
         

        Address for Notice:

         

        Chicken Soup for the Soul Entertainment, Inc.

        132 E. Putnam Avenue, Floor 2W

        Cos Cob, Connecticut 06807

        Facsimile: [( )_____]

        Attention: Chief Executive Officer







	 	 	 
	INVESTOR: DAVID S. NAGELBERG 2003 REVOCABLE TRUST	 	 
	 	 	 
	 	 	 
	By: /s/ David S. Nagelberg  _	 	 
	 Name: David S. Nagelberg	 	 
	 Title: Trustee	 	 
	 	 	 
	Address for Notice:	 	 
	939 Coast Blvd., Unit 21 DE	 	 
	La Jolla, CA 92037	 	 
	 	 	 
	Facsimile: 858-750-2348	 	 
	Attention: David S. Nagelberg	 	 



  





	DWAC Instructions:

	 	 
	

         

        Name of DTC Participant (broker-dealer at which the account or accounts to be credited with the Shares are maintained):
	 	



_________________________________
	 	 	 
	DTC Participant Number:	 	_________________________________
	 	 	 
	Name of Account at DTC Participant being 

credited with the Shares:	 	

_________________________________
	 	 	 
	Account Number at DTC Participant being credited 

with the Shares	 	

_________________________________
	 	 	 







 






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