Exhibit
10.12




 


NTN
BUZZTIME, INC.

INDEMNIFICATION AGREEMENT


 


This
Indemnity Agreement (this “Agreement”) is made as of the ____day of________, 20__, by and between NTN Buzztime,
Inc., a Delaware corporation (the “Corporation”), and ____________________ (“Indemnitee”),
a director and/or officer of the Corporation.


 


A.
The Corporation and the Indemnitee recognize that the interpretation of statutes, regulations, court opinions and the Corporation’s
certificate of incorporation and bylaws is too uncertain to provide the Corporation’s officers and directors with adequate
guidance with respect to the legal risks and potential liabilities to which they may become personally exposed as a result of
performing their duties in good faith for the Corporation.


 


B.
Section 145 of the Delaware General Corporation Law, which sets forth certain provisions relating to the mandatory and permissive
indemnification of officers and directors (among others) of a Delaware corporation by such corporation, is specifically not exclusive
of other rights to which those indemnified thereunder may be entitled under any bylaw, agreement, vote of stockholders or disinterested
directors, or otherwise.


 


C.
In order to induce capable persons such as the Indemnitee to serve or continue to serve as officers or directors of the Corporation
and to enable them to perform their duties to the Corporation secure in the knowledge that certain expenses and liabilities that
may be incurred by them will be borne by the Corporation, and in order to provide such protection pursuant to express contract
rights (intended to be enforceable irrespective of, among other things, any amendment to the Corporation’s certificate of
incorporation or bylaws (collectively, the “Constituent Documents”), any change in the composition of the board
of directors of the Corporation (the “Board”) or any change in control or business combination transaction
relating to the Corporation), the Corporation has determined, after due consideration and investigation of the terms and provisions
of this Agreement and the various other options available to the Corporation and the Indemnitee in lieu of this Agreement, that
this Agreement is in the best interests of the Corporation and its stockholders.


 


D.
The Corporation desires to have the Indemnitee serve or continue to serve as an officer or director of the Corporation, and the
Indemnitee desires to serve or continue to serve as an officer or director of the Corporation provided, and on the express condition,
that Indemnitee is furnished with the indemnity set forth below.


 


NOW,
THEREFORE, in consideration of the foregoing and the Indemnitee’s agreement to continue to provide services to the Corporation,
the parties agree as follows:


 


1.
Definitions. For purposes of this Agreement, the following terms shall have the following meanings:


 


“Change
in Control” means the occurrence after the date of this Agreement of any of the following events:


 


(i)
any Person (other than a trustee or other fiduciary holding securities under an employee benefit plan of the Corporation or an
entity owned directly or indirectly by the stockholders of the Corporation in substantially the same proportions as their ownership
of stock of the Corporation) is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Corporation representing 30% or more of the then outstanding Voting Securities; provided, however,
that for purposes of this clause (i), no Change of Control will be deemed to have occurred (a) as a result of any acquisition
directly from the Company or (b) if the change in relative beneficial ownership of the Corporation’s securities by any Person
results solely from a reduction in the aggregate number of outstanding Voting Securities;


 


(ii)
the consummation of a reorganization, merger or consolidation (unless immediately following such transaction, all of the beneficial
owners of the Voting Securities immediately prior to such transaction beneficially own, directly or indirectly, more than 50%
of the combined voting power of the outstanding securities of the entity resulting from such transaction that vote generally in
the election of directors of such entity);


 




    	 	 	 



     


    





 


(iii)
during any period of two consecutive years, not including any period prior to the execution of this Agreement, individuals who
at the beginning of such period constituted the Board (including for this purpose any new directors whose election by the Board
or nomination for election by the Corporation’s stockholders was approved by a vote of at least a majority of the directors
then still in office who either were directors at the beginning of the period or whose election or nomination for election was
previously so approved) cease for any reason to constitute at least a majority of the Board; or


 


(iv)
the stockholders of the Corporation approve a plan of complete liquidation or dissolution of the Corporation or an agreement for
the sale or disposition by the Corporation of all or substantially all of the Corporation’s assets.


 


“Disinterested
Director” means a director of the Corporation who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.


 


“Expenses”
means any and all actual and reasonable expenses, including, without limitation, attorneys’ and experts’ fees, court
costs, transcript costs, travel expenses, duplicating, printing and binding costs, telephone charges, and all other actual and
reasonable costs and expenses (i) incurred in connection with investigating, defending, being a witness in or participating in
(including on appeal), or preparing to defend, be a witness or participate in, any Proceeding, and (ii) incurred in connection
with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating
to any cost bond, supersedeas bond, or other appeal bond or its equivalent. For purposes of Section 5 only, as used in that section,
the term “Expenses” also includes any Expenses incurred by Indemnitee in connection with the interpretation, enforcement
or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise. Notwithstanding anything to the contrary
herein, however, the term “Expenses” does not include amounts paid in settlement by Indemnitee or the amount of judgments
or fines against Indemnitee.


 


“Exchange
Act” means the Securities Exchange Act of 1934, as amended.


 


“Indemnifiable
Event” means any event or occurrence, whether occurring before, on or after the date of this Agreement, related to the
fact that Indemnitee is or was a director, officer, employee or agent of the Corporation or any subsidiary of the Corporation,
or is or was serving at the request of the Corporation as a director, officer, employee, member, manager, trustee or agent of
any other corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization
or enterprise, or by reason of an action or inaction by Indemnitee in any such capacity (whether or not serving in such capacity
at the time any Loss is incurred for which indemnification can be provided under this Agreement).


 


“Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in corporate law and neither presently performs,
nor in the five years immediately prior to the date of determination has performed, services for either: (i) the Corporation or
Indemnitee (other than in connection with matters concerning Indemnitee under this Agreement or of other indemnitees under similar
agreements) or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the
foregoing, any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest
in representing either the Corporation or Indemnitee in an action to determine Indemnitee’s rights under this Agreement
may not be an Independent Counsel.


 


“Losses”
means any and all Expenses and any and all actual damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal
or other), ERISA excise taxes, amounts paid or payable in settlement, including any interest, assessments, any federal, state,
local or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement and all other
actual and reasonable charges paid or payable in connection with investigating, defending, being a witness in or participating
in (including on appeal), or preparing to defend, be a witness or participate in, any Proceeding.


 




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“Person”
means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association,
organization, governmental entity or other entity and includes the meaning set forth in Sections 13(d) and 14(d) of the Exchange
Act.


 


“Proceeding”
means: (i) any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, whether
civil, criminal, administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law;
or (ii) any inquiry, hearing or investigation that the Indemnitee determines might lead to the institution of any such action,
suit, proceeding or alternative dispute resolution mechanism.


 


“Voting
Securities” means any securities of the Corporation that vote generally in the election of directors.


 


2.
Services to the Corporation. Indemnitee agrees to continue to serve as a director or officer of the Corporation for so
long as Indemnitee is duly elected or appointed or until Indemnitee tenders his/her resignation or is no longer serving in such
capacity. This Agreement shall not be deemed an employment agreement between the Corporation (or any of its subsidiaries) and
Indemnitee. Indemnitee specifically acknowledges that if Indemnitee is employed by the Corporation, such employment is at will
and the Indemnitee may be discharged at any time for any reason, with or without cause, except as may be otherwise provided in
any written employment agreement between Indemnitee and the Corporation, other applicable formal severance policies duly adopted
by the Board or, with respect to service as a director or officer of the Corporation, by the Constituent Documents or the laws
of the State of Delaware.


 


3.
Advancement of Expenses.


 


(a)
Indemnitee shall have the right to advancement by the Corporation, prior to the final disposition of any Proceeding by final adjudication
to which there are no further rights of appeal, of any and all Expenses paid or incurred by Indemnitee in connection with any
Proceeding arising out of an Indemnifiable Event. Indemnitee’s right to such advancement is not subject to the satisfaction
of any standard of conduct as contemplated by Section 8(b).


 


(b)
Within 10 business days after any request by Indemnitee for the advancement of Expenses, the Corporation shall, in accordance
with such request, (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay
such Expenses, or (c) reimburse Indemnitee for such Expenses. In connection with any request for the advancement of Expenses,
Indemnitee shall provide reasonable evidence of the Expenses incurred by Indemnitee; provided, however, Indemnitee shall not be
required to provide any documentation or information to the extent that the provision thereof would undermine or otherwise jeopardize
attorney-client privilege.


 


(c)
The Execution and delivery to the Corporation of this Agreement by Indemnitee constitutes an undertaking by the Indemnitee to
repay any amounts paid, advanced or reimbursed by the Company pursuant to this Section 4 in respect of Expenses relating to, arising
out of or resulting from any Proceeding in respect of which it shall be determined, pursuant to Section 8, following the final
disposition of such Proceeding, that Indemnitee is not entitled to indemnification hereunder. No other form of undertaking shall
be required other than the execution of this Agreement. Indemnitee’s obligation to reimburse the Corporation for the advancement
of any Expenses shall be unsecured and no interest shall be charged thereon.


 


4.
Indemnification. Subject to Sections 8 and 9, to the fullest extent permitted by law, including the laws of the State of
Delaware in effect on the date hereof (or as such laws may from time to time hereafter be amended to increase the scope of such
permitted indemnification), the Corporation shall indemnify Indemnitee against any and all Losses if Indemnitee was or is or becomes
a party to or participant in, or is threatened to be made a party to or participant in, any Proceeding by reason of or arising
in part out of an Indemnifiable Event, including, without limitation, Proceedings brought by or in the right of the Corporation,
Proceedings brought by third parties, and Proceedings in which the Indemnitee is solely a witness.


 




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5.
Indemnification for Expenses in Enforcing Rights. To the fullest extent allowable under applicable law, the Corporation
shall also indemnify against, and, if requested by Indemnitee, shall advance to Indemnitee subject to and in accordance with Section
3, any Expenses paid or incurred by Indemnitee in connection with any action or proceeding by Indemnitee for (a) indemnification
or reimbursement or advancement of Expenses by the Corporation under this Agreement, or under any other agreement or provision
of the Constituent Documents now or hereafter in effect relating to Proceedings relating to Indemnifiable Events, and/or (b) recovery
under any directors’ and officers’ liability insurance policies maintained by the Corporation. However, in the event
that Indemnitee is ultimately determined not to be entitled to such indemnification, reimbursement or advancement of Expenses
or insurance recovery, as the case may be, then all amounts advanced under this Section 5 shall be repaid to the Corporation within
30 days of the date such determination is made. In addition, Indemnitee shall be required to reimburse the Corporation if a final
judicial determination is made that such action or proceeding brought by Indemnitee was frivolous or not made in good faith.


 


6.
Notification and Defense of Proceedings.


 


(a)
Notification of Proceedings. Indemnitee must notify the Corporation in writing as soon as practicable of any Proceeding
which could relate to an Indemnifiable Event or for which Indemnitee could seek the advancement of Expenses. Such notice must
include a brief description (based upon information then available to Indemnitee) of the nature of, and the facts underlying,
such Proceeding. The failure by Indemnitee to timely notify the Corporation hereunder will not relieve the Corporation from any
liability hereunder unless and to the extent such failure materially prejudices the Corporation.


 


(b)
Defense of Proceedings.


 


(i)
The Corporation will be entitled to participate in the defense of any Proceeding relating to an Indemnifiable Event at its own
expense and, except as otherwise provided in Section 6(b)(iii), to the extent the Corporation so elects, it may assume the defense
thereof with counsel reasonably satisfactory to Indemnitee.


 


(ii)
After the Corporation notifies Indemnitee of the Corporation’s election to assume the defense of any such Proceeding, the
Corporation will not be liable to Indemnitee under this Agreement or otherwise for any Expenses subsequently directly incurred
by Indemnitee in connection with Indemnitee’s defense of such Proceeding other than reasonable costs of investigation or
as provided in Section 6(b)(iii).


 


(iii)
Indemnitee has the right to employ its own legal counsel in such Proceeding, but all Expenses related to such counsel incurred
after notice from the Corporation of its assumption of the defense of such Proceeding will be at Indemnitee’s own expense;
provided, however, that if (i) Indemnitee’s employment of its own legal counsel has been authorized by the Corporation,
(ii) Indemnitee has reasonably determined that there may be a conflict of interest between Indemnitee and the Corporation in the
defense of such Proceeding, (iii) after a Change in Control, Indemnitee’s employment of its own counsel has been approved
by Independent Counsel or (iv) the Corporation does not in fact employ counsel to assume the defense of such Proceeding, then
Indemnitee will be entitled to retain its own separate counsel (but not more than one law firm plus, if applicable, local counsel
in respect of any such Proceeding) and the Corporation will be responsible for all Expenses related to such separate counsel,
in each case of the preceding clauses (on), (ii), (iii) and (iv), if it is determined pursuant to Section 8 that Indemnitee is
entitled to indemnification with respect to the Proceeding.


 


7.
Procedure upon Application for Indemnification. To obtain indemnification pursuant to this Agreement, Indemnitee must submit
to the Corporation a request therefor (a “Indemnification Request”) and, in connection therewith and from time
to time thereafter, Indemnitee must provide the Corporation with such documentation and information as is reasonably available
to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following
the final disposition of the Proceeding; provided, however, that documentation and information need not be so provided to the
extent that doing so would undermine or otherwise jeopardize attorney-client privilege. Upon an Indemnification Request pursuant
to the first sentence of this Section, a determination with respect to Indemnitee’s entitlement thereto shall be made in
the specific case by one of the methods set forth in Section 8. The Corporation must indemnify Indemnitee if and to the extent
Indemnitee is entitled to indemnification as determined under Section 8.


 




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8.
Determination of Right to Indemnification.


 


(a)
Mandatory Indemnification.


 


(i)
To the extent that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding or any portion thereof
or in defense of any issue or matter therein, including without limitation dismissal without prejudice, for which Indemnitee is
entitled to indemnification pursuant to Section 4, the Corporation shall indemnify Indemnitee against all Losses relating to such
Proceeding in accordance with Section 4. For the avoidance of doubt, if Indemnitee is not wholly successful in a Proceeding but
is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the
Corporation shall indemnify Indemnitee against all Losses incurred by Indemnitee in connection with each successfully resolved
claim, issue or matter. For avoidance of doubt, no Standard of Conduct Determination (as defined in Section 8(b)) is required
in order for Indemnitee to be indemnified under this Section 8(a)(i).


 


(ii)
To the extent that Indemnitee’s involvement in a Proceeding relating to an Indemnifiable Event is to prepare to serve and/or
serve as a witness, and not as a party, the Corporation shall indemnify Indemnitee against all Expenses incurred by Indemnitee
in connection with such Proceeding. For avoidance of doubt, no Standard of Conduct Determination is required in order for indemnification
under this Section 8(a)(ii).


 


(b)
Standard of Conduct. To the extent that the provisions of Section 8(a) are inapplicable to a Proceeding for which Indemnitee
is entitled to indemnification pursuant to Section 4 that has been finally disposed of, the determination of whether Indemnitee
has satisfied any applicable standard of conduct under applicable law that is a legally required condition to indemnification
of Indemnitee hereunder against Losses relating to such Proceeding and the determination of whether any Expenses advanced to Indemnitee
must be repaid to the Corporation (a “Standard of Conduct Determination”) will be made as follows:


 


(i)
if no Change in Control has occurred, (A) by a majority vote of the Disinterested Directors, even if less than a quorum of the
Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though
less than a quorum, or (C) if there are no such Disinterested Directors, by Independent Counsel in a written opinion addressed
to the Board, a copy of which must be delivered to Indemnitee; and


 


(ii)
if a Change in Control has occurred, (A) if Indemnitee so requests in writing, by a majority vote of the Disinterested Directors,
even if less than a quorum of the Board or (B) otherwise, by Independent Counsel in a written opinion addressed to the Board,
a copy of which must be delivered to Indemnitee.


 


The
Corporation shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for,
or advance to Indemnitee, within 10 business days of such request, any and all Expenses incurred by Indemnitee in cooperating
with the person or persons making such Standard of Conduct Determination.


 


(c)
Making the Determination. The Corporation shall use its reasonable best efforts to cause any Standard of Conduct Determination
required under Section 8(b) to be made as promptly as practicable. If the person or persons designated to make the Standard of
Conduct Determination under Section 8(b) have not made such a determination within 30 days after the later of (A) the date the
Corporation receives the applicable Indemnification Request (such date, the “Notification Date”) and (B) the
date Independent Counsel is selected, if Independent Counsel is to make such determination, then Indemnitee will be deemed to
have satisfied the applicable standard of conduct; provided that such 30-day period may be extended for a reasonable time, not
to exceed an additional 30 days, if the person or persons making such determination in good faith requires such additional time
to obtain or evaluate information relating thereto. Notwithstanding anything to the contrary in this Agreement, no Standard of
Conduct Determination required under Section 8(b) may be required to be made prior to the final disposition of any Proceeding.


 




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(d)
Cooperation. Indemnitee shall cooperate with the person or persons making such determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such person or persons upon reasonable advance request any documentation
or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary to such determination.


 


(e)
Indemnification Payment. If, in regard to any Losses:


 


(i)
Indemnitee is entitled to indemnification under Section 8(a);


 


(ii)
no Standard Conduct Determination is legally required as a condition to indemnification of Indemnitee hereunder; or


 


(iii)
Indemnitee has been determined or deemed to have satisfied the applicable standard of conduct under Delaware law that is a
legally required condition to indemnification of Indemnitee hereunder under Section 8(b) or Section 8(c), as applicable, then
the Corporation shall pay to Indemnitee, within 10 business days after the later of (A) the Notification Date or (B) the
earliest date on which the applicable criterion specified in clause (i), (ii) or (iii) is satisfied, an amount equal to such
Losses.


 


(f)
Selection of Independent Counsel for Standard of Conduct Determination. If a Standard of Conduct Determination is to be
made by Independent Counsel pursuant to Section 8(b)(i), the Independent Counsel shall be selected by the Board, and the Corporation
shall give notice to Indemnitee advising him/her of the identity of the Independent Counsel so selected. If a Standard of Conduct
Determination is to be made by Independent Counsel pursuant to Section 8(b)(ii), the Independent Counsel shall be selected by
Indemnitee, and Indemnitee shall give notice to the Corporation advising it of the identity of the Independent Counsel so selected.
In either case, Indemnitee or the Corporation, as applicable, may, within five business days after receiving notice of selection
from the other, deliver to the other an objection to such selection; provided, however, that such objection may be asserted only
on the ground that the Independent Counsel so selected does not satisfy the criteria set forth in the definition of “Independent
Counsel”, and the objection must set forth with particularity the factual basis of such assertion. Absent a proper and timely
objection, the person or firm so selected will act as Independent Counsel. If such objection is properly and timely made and substantiated,
(i) the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a
court has determined that such objection is without merit; and (ii) the non-objecting party may, at its option, select an alternative
Independent Counsel and give notice to the other party advising such other party of the identity of the alternative Independent
Counsel so selected, in which case the provisions of the two immediately preceding sentences, the introductory clause of this
sentence and clause (i) of this sentence will apply to such subsequent selection and notice, and, if applicable, clause (ii) of
the this sentence will apply to successive alternative selections. If no Independent Counsel that is permitted under this Section
8(f) to make the Standard of Conduct Determination is selected within 30 days after the Corporation gives its initial notice pursuant
to the first sentence of this Section 8(f) or Indemnitee gives its initial notice pursuant to the second sentence of this Section
8(f), as the case may be, either the Corporation or Indemnitee may petition the Court of Chancery of the State of Delaware (the
“Delaware Court”) to resolve any objection which has been made by the Corporation or Indemnitee to the other’s
selection of Independent Counsel and/or to appoint as Independent Counsel a person or firm to be designated by the Delaware Court,
and the person or firm with respect to whom all objections are so resolved or the person or firm so appointed will act as Independent
Counsel. In all events, the Corporation shall pay all of the reasonable fees and expenses of the Independent Counsel incurred
in connection with the Independent Counsel’s determination pursuant to Section 8(b).


 




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(g)
Presumptions and Defenses.


 


(i)
Indemnitee’s Entitlement to Indemnification. In making any Standard of Conduct Determination, the person or persons
making such determination must presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification,
and anyone seeking to overcome this presumption, including the Corporation, will have the burden of proof to overcome that presumption
and establish that Indemnitee is not so entitled. Any Standard of Conduct Determination that is adverse to Indemnitee may be challenged
by Indemnitee in the Delaware Court. No determination by the Corporation (including by its directors or any Independent Counsel)
that Indemnitee has not satisfied any applicable standard of conduct may be used as a defense to any proceedings brought by Indemnitee
to secure indemnification or reimbursement or advancement of Expenses by the Corporation hereunder or create a presumption that
Indemnitee has not met any applicable standard of conduct.


 


(ii)
Reliance as a Safe Harbor. For purposes of this Agreement, and without creating any presumption as to a lack of good faith
if the following circumstances do not exist, Indemnitee will be deemed to have acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interests of the Corporation if Indemnitee’s actions or omissions to act are
taken in good faith reliance upon the records of the Corporation, including its financial statements, or upon information, opinions,
reports or statements furnished to Indemnitee by the officers or employees of the Corporation or any of its subsidiaries in the
course of their duties, or by committees of the Board or by any other Person (including legal counsel, accountants and financial
advisors) as to matters Indemnitee reasonably believes are within such other Person’s professional or expert competence
and who has been selected with reasonable care by or on behalf of the Corporation. In addition, the knowledge and/or actions,
or failures to act, of any director, officer, agent or employee of the Corporation may not be imputed to Indemnitee for purposes
of determining the right to indemnity hereunder.


 


(iii)
No Other Presumptions. For purposes of this Agreement, the termination of any Proceeding by judgment, order, settlement
(whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a
presumption that Indemnitee did not meet any applicable standard of conduct or have any particular belief, or that indemnification
hereunder is otherwise not permitted.


 


(iv)
Defense to Indemnification and Burden of Proof. It will be a defense to any action brought by Indemnitee against the Corporation
to enforce this Agreement (other than an action brought to enforce a claim for Losses incurred in defending against a Proceeding
related to an Indemnifiable Event in advance of its final disposition) that it is not permissible under applicable law for the
Corporation to indemnify Indemnitee for the amount claimed. In connection with any such action or any related Standard of Conduct
Determination, the Corporation will have the burden of proving such a defense or that the Indemnitee did not satisfy the applicable
standard of conduct.


 


(v)
Resolution of Proceedings. The Corporation acknowledges that a settlement or other disposition short of final judgment
may be successful on the merits or otherwise for purposes of Section 8(a)(i) if it permits a party to avoid expense, delay, distraction,
disruption and/or uncertainty. If any Proceeding relating to an Indemnifiable Event to which Indemnitee is a party is resolved
in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such action, claim
or proceeding with our without payment of money or other consideration) it will be presumed that Indemnitee has been successful
on the merits or otherwise for purposes of Section 8(a)(i). Anyone seeking to overcome this presumption, including the Corporation,
will have the burden of proof to overcome this presumption.


 


9.
Exclusions from Indemnification. Notwithstanding anything to the contrary in this Agreement, the Corporation will not be
obligated to:


 


(a)
indemnify or advance funds to Indemnitee for Expenses or Losses with respect to proceedings initiated by Indemnitee, including
any proceedings against the Corporation or its directors, officers, employees or other indemnitees and not by way of defense,
except: (i) proceedings referenced in Section 5 (unless a court of competent jurisdiction determines that each of the material
assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous); or (ii) where the Corporation has
joined in or the Board has consented to the initiation of such proceedings;


 


(b)
indemnify Indemnitee if a final decision by a court of competent jurisdiction determines that such indemnification is prohibited
by applicable law;


 


(c)
indemnify Indemnitee if Indemnitee made a misstatement of a material fact, or an omission of a material fact necessary to make
Indemnitee’s statement not materially misleading, in connection with a Proceeding, if and to the extent Indemnitee would
not have been entitled to indemnification under this Agreement in the absence of such misstatement or omission;


 




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(d)
indemnify Indemnitee for the disgorgement of profits arising from the purchase or sale by Indemnitee of securities of the Corporation
in violation of Section 16(b) of the Exchange Act or any similar successor statute; or


 


(e)
indemnify or advance funds to Indemnitee for Indemnitee’s reimbursement to the Corporation of any bonus or other incentive-based
or equity-based compensation previously received by Indemnitee or payment of any profits realized by Indemnitee from the sale
of securities of the Corporation, as required in each case under the Exchange Act (including any such reimbursements under Section
304 of the Sarbanes-Oxley Act of 2002 in connection with an accounting restatement of the Corporation or the payment to the Corporation
of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act).


 


10.
Settlement of Proceedings. The Corporation will not be liable to Indemnitee under this Agreement for any amounts paid in
settlement of any Proceeding related to an Indemnifiable Event effected without the Corporation’s prior written consent,
which may not be unreasonably conditioned, delayed or withheld; provided, however, that if a Change in Control has occurred, the
Corporation will be liable for indemnification of Indemnitee for amounts paid in settlement if an Independent Counsel has approved
the settlement. The Corporation shall not settle any Proceeding related to an Indemnifiable Event in any manner that would impose
any Losses on the Indemnitee without the Indemnitee’s prior written consent.


 


11.
Partial Indemnity. If Indemnitee is entitled under this Agreement to indemnification by the Corporation for a portion of
any Losses in respect of a Proceeding related to an Indemnifiable Event but not for the total amount thereof, the Corporation
must nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.


 


12.
Duration. All agreements and obligations of the Corporation contained in this Agreement will continue during the period
that Indemnitee is a director or officer of the Corporation (or is serving at the request of the Corporation as a director, officer,
employee, member, trustee or agent of another corporation, firm, partnership, joint venture, limited liability company, estate,
trust, business association, organization or enterprise) and will continue thereafter (i) so long as Indemnitee may be subject
to any possible Proceeding relating to an Indemnifiable Event (including any rights of appeal thereto) and (ii) throughout the
pendency of any proceeding (including any rights of appeal thereto) commenced by Indemnitee to enforce or interpret Indemnitee’s
rights under this Agreement, even if, in either case, Indemnitee may have ceased to serve in such capacity at the time of any
such Proceeding or proceeding.


 


13.
Non-Exclusivity. Indemnitee’s rights under this Agreement are in addition to any other rights Indemnitee may have
under the Constituent Documents, the General Corporation Law of the State of Delaware, any other contract or otherwise (collectively,
“Other Indemnity Provisions”); provided, however, that (a) to the extent that Indemnitee otherwise would have
any greater right to indemnification under any Other Indemnity Provision, Indemnitee will be deemed to have such greater right
under this Agreement and (b) to the extent that any change is made to any Other Indemnity Provision which permits any greater
right to indemnification than that provided under this Agreement as of the date hereof, Indemnitee will be deemed to have such
greater right under this Agreement.


 


14.
Liability Insurance. For the duration of Indemnitee’s service as a director/officer of the Corporation, and thereafter
for so long as Indemnitee may be subject to any pending Proceeding relating to an Indemnifiable Event, the Corporation must use
commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof)
to continue to maintain in effect policies of directors’ and officers’ liability insurance providing coverage that
is at least substantially comparable in scope and amount to that provided by the Corporation’s current directors’
and officers’ liability insurance policies. Indemnitee shall be named as an insured in all the directors’ and officers’
liability insurance policies maintained by the Corporation in such a manner as to provide Indemnitee the same rights and benefits
as are provided to the most favorably insured of the Corporation’s directors, if Indemnitee is a director, or of the Corporation’s
officers, if Indemnitee is an officer (and not a director) by such policy. Upon request, the Corporation must provide to Indemnitee
copies of all directors’ and officers’ liability insurance applications, binders, policies, declarations, endorsements
and other related materials.


 




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15.
No Duplication of Payments. The Corporation will not be liable under this Agreement to make any payment to Indemnitee in
respect of any Losses to the extent Indemnitee has otherwise received payment under any insurance policy, any of the Other Indemnity
Provisions or otherwise of the amounts otherwise indemnifiable by the Corporation hereunder.


 


16.
Subrogation. If any payment is made to Indemnitee under this Agreement, the Corporation will be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee. Indemnitee must execute all papers required and must do everything
that may be necessary to secure such rights, including the execution of such documents necessary to enable the Corporation effectively
to bring suit to enforce such rights.


 


17.
Severability. The provisions of this Agreement are severable if any of the provisions hereof (including any portion thereof)
are held by a court of competent jurisdiction to be invalid, illegal, void or otherwise unenforceable, and the remaining provisions
will remain enforceable to the fullest extent permitted by law. Upon such determination that any term or other provision is invalid,
illegal or unenforceable, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent
of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated
as originally contemplated to the greatest extent possible.


 


18.
Notices. All notices, requests, demands and other communications hereunder must be in writing and will be deemed to have
been duly given if delivered by hand, or mailed, by postage prepaid, certified or registered mail:


 


if
to Indemnitee, to the address for Indemnitee in the Corporation’s records


 


if
to the Corporation, to:


 


NTN
Buzztime, Inc.


Attn:
Board of Directors


1800
Aston Ave., Suite 100


Carlsbad,
CA 92008


 


Notice
of any change of address will be effective only when given in accordance with this Section. All notices complying with this Section
will be deemed to have been received on the date of hand delivery or on the third business day after mailing.


 


19.
Governing Law and Forum. This Agreement will be governed by and construed and enforced in accordance with the laws of the
State of Delaware applicable to contracts made and to be performed in such state without giving effect to its principles of conflicts
of laws. The Corporation and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising
out of or in connection with this Agreement will be brought only in the Delaware Court and not in any other state or federal court
in the United States, (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or
proceeding arising out of or in connection with this Agreement, and (c) waive, and agree not to plead or make, any claim that
the Delaware Court lacks venue or that any such action or proceeding brought in the Delaware Court has been brought in an improper
or inconvenient forum. Each of the parties agrees, (i) to the extent such party is not otherwise subject to service of process
in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance
of legal process, and (ii) that service of process may also be made on such party by prepaid certified mail with a proof of mailing
receipt validated by the United States Postal Service constituting evidence of valid service. Service made pursuant to clauses
(i) or (ii) above shall have the same legal force and effect as if served upon such party personally within the State of Delaware.


 




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20.
Entire Agreement. This Agreement embodies the final, entire agreement among the parties hereto with respect to the subject
matter hereof and supersedes any and all prior negotiations, commitments, agreements, representations and understandings, whether
written or oral, relating to such subject matter and may not be contradicted or varied by evidence of prior, contemporaneous or
subsequent oral agreements or discussions of the parties hereto.


 


21.
Amendments. No supplement, modification or amendment of this Agreement will be binding unless executed in writing by the
Corporation and Indemnitee. No waiver of any of the provisions of this Agreement will be binding unless in the form of a writing
signed by the party against whom enforcement of the waiver is sought, and no such waiver will operate as a waiver of any other
provisions hereof (whether or not similar), nor will such waiver constitute a continuing waiver. Except as specifically provided
herein, no failure to exercise or any delay in exercising any right or remedy hereunder will constitute a waiver thereof.


 


22.
Binding Effect. This Agreement is binding upon and inures to the benefit of and be enforceable by the parties hereto and
their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all
or substantially all of the business and/or assets of the Corporation), assigns, spouses, heirs and personal and legal representatives.
The Corporation must require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all, substantially all or a substantial part of the business and/or assets of the Corporation, by written agreement in form
and substances satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the
same extent that the Corporation would be required to perform if no such succession had taken place.


 


23.
Headings. The headings of the sections and paragraphs of this Agreement are inserted for convenience only and are not to
be deemed to constitute part of this Agreement or to affect the construction or interpretation hereof.


 


24.
Counterparts. This Agreement may be executed in one or more counterparts, each of which will for all purposes be deemed
to be an original, but all of which together will constitute one and the same agreement.


 


[SIGNATURE
PAGE FOLLOWS]


 




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


 


	CORPORATION:

        
	 	INDEMNITEE:
	 	 	 
	NTN
    Buzztime, Inc.	 	 	 
	 	 	 	 
	By:

        
	                  	 	 	 
	Name:

        
	 	 	Name:

        
	            
	Title:	 	 	 	 


 




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