EMPLOYMENT AGREEMENT


 


This AGREEMENT dated as of February 29,
2012 between Craig dos Santos, residing at 509 Duboce Ave., San Francisco, CA 94117 (“Executive”), and ASCEND
ACQUISITION CORP., a Delaware corporation having its principal office at _______________ (“Company”);


 


WHEREAS, Executive is currently serving
as the Chief Executive Officer of Andover Games, LLC (“Andover Games”);


 


WHEREAS, the Company has entered into a
Merger Agreement and Plan of Reorganization (the “Merger Agreement”) dated as of December 30, 2011, by and among the
Company, Ascend Merger Sub, LLC (“Merger Sub”), Andover Games and certain of the members of Andover Games, pursuant
to which Merger Sub will be merged with and into Andover Games (the “Merger”);


 


WHEREAS, the Company desires to enter into
a new employment agreement with Executive to take effect upon consummation of the Merger (the “Commencement Date”);
and


 


WHEREAS, Executive is willing to enter
into such employment agreement on the terms, conditions and provisions hereinafter set forth.


 


IT IS AGREED:


 


		1.	Employment, Duties and Acceptance.



 


1.1        General.
The Company hereby agrees to the continued employment of Executive as its Chief Executive Officer (“CEO”), effective
on the Commencement Date. All of Executive’s powers and authority in any capacity shall at all times be subject to the direction
and control of the Company’s Board of Directors. The Board may assign to Executive such management and supervisory responsibilities
and executive duties for the Company or any subsidiary of the Company, including serving as an executive officer and/or director
of any subsidiary, as are consistent with Executive’s status as CEO. The Company and Executive acknowledge that Executive’s
primary functions and duties as CEO are set forth in Exhibit A.


 



    	  



    	 



    

 


1.2        Full-Time
Position. Executive accepts such employment and agrees to devote substantially all of his business time, energies and attention
to the performance of his duties hereunder. Nothing herein shall be construed as preventing Executive from making and supervising
personal investments, provided they will not interfere with the performance of Executive’s duties hereunder.


 


1.3        Location.
The Company will maintain its principal executive offices within a thirty (30) mile radius of its current location in San Francisco,
California. Executive shall undertake such occasional travel, within or outside the United States, as is reasonably necessary in
the interests of the Company.


 


2.            Term.
The term of Executive’s employment hereunder shall commence on the Commencement Date and shall continue until two years (“Term”)
unless terminated earlier as hereinafter provided in this Agreement, or unless extended by mutual written agreement of the Company
and Executive. Unless the Company and Executive have otherwise agreed in writing, if Executive continues to work for the Company
after the expiration of the Term, his employment thereafter shall be under the same terms and conditions provided for in this Agreement,
except that his employment will be on an “at will” basis and the provisions of Sections 4.4 and 4.6(c) shall no longer
be in effect.


 


		3.	Compensation and Benefits.



 


3.1        Salary.
The Company shall pay to Executive a salary (“Base Salary”) at the annual rate of $225,000. Executive’s compensation
shall be paid in equal, periodic installments in accordance with the Company’s normal payroll procedures. Specifically, Executive
agrees that Company may deduct and withhold from his compensation hereunder the amounts required to be deducted and withheld under
the provisions of the applicable Federal and state laws heretofore or hereafter enacted requiring the withholding of compensation.


 


3.2        Benefits.
Executive shall be entitled to such medical, life, disability and other benefits as are generally afforded to other executives
of the Company, subject to applicable waiting periods and other conditions.


 



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3.3        Vacation.
Executive shall be entitled to such paid vacation days in each year during the Term and to a reasonable number of other days off
for religious and personal reasons in accordance with customary Company policy.


 


3.4        Expenses.
The Company shall pay or reimburse Executive for all transportation, hotel and other expenses reasonably incurred by Executive
on business trips and for all other ordinary and reasonable out-of-pocket expenses actually incurred by him in the conduct of the
business of the Company against itemized vouchers submitted with respect to any such expenses and approved in accordance with customary
procedures.


 


		4.	Termination.



 


4.1        Death.
If Executive dies during the Term, Executive’s employment hereunder shall terminate and the Company shall pay to Executive’s
estate the amount set forth in Section 4.6(a).


 


4.2        Disability.
The Company, by written notice to Executive, may terminate Executive’s employment hereunder if Executive shall fail because
of illness or incapacity to render services of the character contemplated by this Agreement for six (6) consecutive months. Upon
such termination, the Company shall pay to Executive the amount set forth in Section 4.6(a).


 


4.3        By
Company for “Cause”. The Company, by written notice to Executive, may terminate Executive’s employment hereunder
for “Cause”. As used herein, “Cause” shall mean: (a) the refusal or failure by Executive to carry out specific
directions of the Board which are of a material nature and consistent with his status as CEO (or whichever positions Executive
holds at such time), or the refusal or failure by Executive to perform a material part of Executive’s duties hereunder; (b)
the commission by Executive of a material breach of any of the provisions of this Agreement; (c) fraud or material dishonest action
by Executive in his relations with the Company or any of its subsidiaries or affiliates (“dishonest” for these purposes
shall mean Executive’s knowingly or recklessly making of a material misstatement or omission for his personal benefit); or
(d) the conviction of Executive of a felony under federal or state law. Notwithstanding the foregoing, no “Cause” for
termination shall be deemed to exist with respect to Executive’s acts described in clauses (a) or (b) above, unless the Company
shall have given written notice to Executive within a period not to exceed ten (10) calendar days of the initial existence of the
occurrence, specifying the “Cause” with reasonable particularity and, within thirty (30) calendar days after such notice,
Executive shall not have cured or eliminated the problem or thing giving rise to such “Cause”; provided, however, no
more than two cure periods need be provided during any twelve-month period. Upon such termination, the Company shall pay to Executive
the amount set forth in Section 4.6(b).


 



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4.4          By
Executive for “Good Reason”. The Executive, by written notice to the Company, may terminate Executive’s employment
hereunder if a “Good Reason” exists. For purposes of this Agreement, “Good Reason” shall mean the occurrence
of any of the following circumstances without the Executive’s prior written consent: (a) a substantial and material adverse
change in the nature of Executive’s title, duties or responsibilities with the Company that represents a demotion from his
title, duties or responsibilities as in effect immediately prior to such change (such change, a “Demotion”); (b) material
breach of this Agreement by the Company; (c) a failure by the Company to make any payment to Executive when due, unless the payment
is not material and is being contested by the Company, in good faith; or (d) a liquidation, bankruptcy or receivership of the Company.
Notwithstanding the foregoing, no “Good Reason” shall be deemed to exist with respect to the Company’s acts described
in clauses (a), (b) or (c) above, unless Executive shall have given written notice to the Company within a period not to exceed
ten (10) calendar days of the initial existence of the occurrence, specifying the “Good Reason” with reasonable particularity
and, within thirty calendar days after such notice, the Company shall not have cured or eliminated the problem or thing giving
rise to such “Good Reason”; provided, however, that no more than two cure periods shall be provided during any twelve-month
period of a breach of clauses (a), (b) or (c) above. Upon such termination, the Company shall pay to Executive the amount set forth
in Section 4.6(c). “Change in Control” shall mean the acquisition, by any person or entity other than the Company and/or
any officers or directors of the Company as of the date of this Agreement, of securities of the Company (in one or more transactions)
having 50% or more of the total voting power of all the Company’s securities than outstanding.


 



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4.5        By
Company Without “Cause”. The Company may terminate Executive’s employment hereunder without “Cause”
by giving at least thirty (30) days written notice to Executive. Upon such termination, the Company shall pay to Executive the
amount set forth in Section 4.6(c).


 


4.6        Compensation
Upon Termination. In the event that Executive’s employment hereunder is terminated, the Company shall pay to Executive
the following compensation:


 


(a)        Payment
Upon Death or Disability. In the event that Executive’s employment is terminated pursuant to Sections 4.1 or 4.2, the
Company shall no longer be under any obligation to Executive or his legal representatives pursuant to
this Agreement except for: (i) the Base Salary due Executive pursuant to Section 3.1 hereof through the date of termination;
(ii) all valid expense reimbursements; and (iii) all accrued but unused vacation pay.


 


(b)        Payment
Upon Termination by the Company For “Cause”. In the event that the Company terminates Executive’s employment
hereunder pursuant to Section 4.3, the Company shall have no further obligations to the Executive hereunder,
except for: (i) the Base Salary due Executive pursuant to Section 3.1 hereof through the through the date of termination;
(ii) all valid expense reimbursements; and (iii) all unused vacation pay through the date of termination required by law to be
paid.


 


(c)        Payment
Upon Termination by Company or by Executive for Good Reason. In the event that Executive’s employment is terminated pursuant
to Sections 4.4 or 4.5, the Company shall have no further obligations to Executive hereunder except for:
(i) the Base Salary due Executive pursuant to Section 3.1 hereof through the end of the end of the current annual term (eg,
a termination in month three of this contract would result in an additional nine months of payments, and a termination in month
15 of the agreement would also result in an additional nine months of payments) of the Agreement, payable
in accordance with Section 3.1; (ii) all valid expense reimbursements; and (iii) all accrued but unused vacation pay.


 


(d)        Executive
shall have no duty to mitigate awards paid or payable to him pursuant to this Agreement, and any compensation paid or payable to
Executive from sources other than the Company will not offset or terminate the Company’s obligation to pay to Executive the
full amounts pursuant to this Agreement.


 



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		5.	Protection of Confidential Information



 


5.1         Acknowledgment.
Executive acknowledges that:


 


(a)        As
a result of his current and prior employment with the Company, Executive has obtained and will obtain secret and confidential information
concerning the business of the Company and its subsidiaries (referred to collectively in this Section 5 as the “Company”),
including, without limitation, financial information, proprietary rights, trade secrets and “know-how,” customers and
sources (“Confidential Information”).


 


(b)        The
Company will suffer substantial damage which will be difficult to compute if, during the period of his employment with the Company
or thereafter, Executive should divulge Confidential Information.


 


(c)        The
provisions of this Agreement are reasonable and necessary for the protection of the business of the Company.


 


5.2        Confidentiality.
Executive agrees that he will not at any time, during the Term or thereafter, divulge to any person or entity any Confidential
Information obtained or learned by him as a result of his employment with the Company, except (i) in the course of performing his
duties hereunder, (ii) with the Company’s prior written consent; (iii) to the extent that any such information is in the
public domain other than as a result of Executive’s breach of any of his obligations hereunder; or (iv) where required to
be disclosed by court order, subpoena or other government process. If Executive shall be required to make disclosure pursuant to
the provisions of clause (iv) of the preceding sentence, Executive promptly, but in no event more than 48 hours after learning
of such subpoena, court order, or other government process, shall notify, confirmed by mail, the Company and, at the Company’s
expense, Executive shall: (a) take all reasonably necessary and lawful steps required by the Company to defend against the enforcement
of such subpoena, court order or other government process, and (b) permit the Company to intervene and participate with counsel
of its choice in any proceeding relating to the enforcement thereof.


 



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5.3        Documents.
Upon termination of his employment with the Company, Executive will promptly deliver to the Company all memoranda, notes, records,
reports, manuals, drawings, blueprints and other documents (and all copies thereof) relating to the business of the Company and
all property associated therewith, which he may then possess or have under his control; provided, however, that Executive shall
be entitled to retain copies of such documents reasonably necessary to document his financial relationship with the Company.


 


5.4        Injunctive
Relief. If Executive commits a breach, or threatens to commit a breach, of any of the provisions of Section 5.2, the Company
shall have the right and remedy to seek to have the provisions of this Agreement specifically enforced by any court having equity
jurisdiction, it being acknowledged and agreed by Executive that the services being rendered hereunder to the Company are of a
special, unique and extraordinary character and that any such breach or threatened breach will cause irreparable injury to the
Company and that money damages will not provide an adequate remedy to the Company. The rights and remedies enumerated in this Section
5.4 shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law or equity. In
connection with any legal action or proceeding arising out of or relating to this Agreement, the prevailing party in such action
or proceeding shall be entitled to be reimbursed by the other party for the reasonable attorneys’ fees and costs incurred
by the prevailing party.


 


5.5        Modification.
If any provision of Section 5.2 is held to be unenforceable because of the scope, duration or area of its applicability, the tribunal
making such determination shall have the power to modify such scope, duration, or area, or all of them, and such provision or provisions
shall then be applicable in such modified form.


 


5.6        Survival.
The provisions of this Section 5 shall survive the termination of this Agreement for any reason.


 



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		6.	Miscellaneous Provisions.



 


6.1        Notices.
All notices provided for in this Agreement shall be in writing, and shall be deemed to have been duly given when (i) delivered
personally to the party to receive the same, or (ii) when mailed first class postage prepaid, by certified mail, return receipt
requested, addressed to the party to receive the same at his or its address set forth below, or such other address as the party
to receive the same shall have specified by written notice given in the manner provided for in this Section 6.1. All notices shall
be deemed to have been given as of the date of personal delivery or mailing thereof.


 


If to Executive:


 


Craig dos Santos


509 Duboce Ave.


San Francisco, California 94117


 


If to the Company:


 


360 Ritch Street, Floor 3


San Francisco, California 94107


 


With a copy in either case to:


 


Greenberg Traurig, LLP


1900 University Ave., 5th Floor


East Palo Alto, CA 94303


Attn: Todd Rumberger, Esq.


email: rumbergert@gtlaw.com


 


6.2        Entire
Agreement; Waiver. This Agreement sets forth the entire agreement of the parties relating to the employment of Executive and
is intended to supersede all prior negotiations, understandings and agreements. No provisions of this Agreement may be waived or
changed except by a writing by the party against whom such waiver or change is sought to be enforced. The failure of any party
to require performance of any provision hereof or thereof shall in no manner affect the right at a later time to enforce such provision.


 


6.3        Governing
Law. All questions with respect to the construction of this Agreement, and the rights and obligations of the parties hereunder,
shall be determined in accordance with the law of the State of California applicable to agreements made and to be performed entirely
in California.


 



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6.4        Binding
Effect; Nonassignability. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the
Company. This Agreement shall not be assignable by Executive, but shall inure to the benefit of and be binding upon Executive’s
heirs and legal representatives.


 


6.5        Severability.
Should any provision of this Agreement become legally unenforceable, no other provision of this Agreement shall be affected, and
this Agreement shall continue as if the Agreement had been executed absent the unenforceable provision.


 


6.6        Section
409A. This Agreement is intended to comply with the provisions of Section 409A of the Internal Revenue Code (“Section
409A”). To the extent that any payments and/or benefits provided hereunder are not considered compliant with Section 409A,
the parties agree that the Company shall take all actions necessary to make such payments and/or benefits become compliant.


 



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IN WITNESS WHEREOF, the parties have executed
this Agreement on the date first above written.


 


	 	 	ASCEND ACQUISITION CORP.	 
	 	 	 	 
	 	By:	/s/ Jonathan J. Ledecky	 
	 	 	Name: Jonathan J. Ledecky	 
	 	 	Title:  Chairman	 
	 	 	 	 
	 	 	/s/ Craig dos Santos	 
	 	 	Craig dos Santos	 


 



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EXHIBIT A


 


Duties: Craig dos Santos shall be responsible for the following
duties and any other duties upon which Santos and the Company agree to in writing: (i) operate and manage the Company as CEO including
but not limited to all aspects of day-to-day operations, (ii) recruiting (iii) leading game design and monetization and (iv) assistance
with finance.


 



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