Exhibit
10.2


FIRST
AMENDMENT TO MASTER FACILITY LICENSE AGREEMENT


 


THIS
FIRST AMENDMENT TO MASTER FACILITY LICENSE AGREEMENT (this “First Amendment”) is entered into as of February
4, 2020, by and between LAF Canada Company, an entity organized under the laws of Nova Scotia (“Licensor”)
and Novo Healthnet Limited, Inc., an Ontario corporation (“Licensee”). Capitalized terms used but not otherwise
defined in this First Amendment shall have the respective meanings ascribed to them in the Agreement (as defined below), which
will remain in full force and effect as amended hereby.


 


WITNESSETH:


 


WHEREAS,
the parties entered into that certain Master Facility License Agreement dated as of September 24, 2019 (the “Agreement”);


 


WHEREAS,
the Parties hereto desire to amend certain terms and provisions of the Agreement, as set forth herein.


 


NOW,
THEREFORE, in consideration of the mutual agreements and covenants set forth herein and for other valuable consideration, the
sufficiency of which is hereby acknowledged, the Parties hereto agree, subject to the terms and conditions hereinafter set forth,
as follows:


 


	1.	Amendments
                                         to the Agreement. 



 


1.1       Schedule
1.2 of the Agreement shall be deleted in its entirety and replaced with Schedule 1.2 to this First Amendment.


 


1.2       Section
1.5 of the Agreement shall be deleted in its entirety and replaced with the following:


 


“Development
Obligation. Licensee commits to develop and open for business within (a) at least 4 of the Facilities listed on schedule 1.2
by March 31, 2020, with such 4 Facilities to be identified to Licensor by December 31, 2019, which date shall also be considered
the Grant Date for such 4 Facilities; (b) at least 6 additional Facilities listed on schedule 1.2 by June 30, 2020, with such
6 Facilities to be identified to Licensor by March 31, 2020, which date shall also be considered the Grant Date for such 4 Facilities;
(c) at least 6 additional Facilities listed on schedule 1.2 by September 30, 2020, with such 6 Facilities to be identified to
Licensor by June 30, 2020, which date shall also be considered the Grant Date for such 6 Facilities; and (d) the remaining single
Facility listed on schedule 1.2 by December 31, 2020, with such Facility to be identified to Licensor by September 30, 2020, which
date shall also be considered the Grant Date for such Facility (the foregoing obligation, the “Development Obligation”),
it being understood and agreed that Licensee may satisfy the Development Obligation in advance of the dates set forth herein if
Licensee develops and opens for business at a faster pace than the time periods allotted herein. In the event that Licensee fails
to meet the Development Obligation (regardless of the month in which such noncompliance with the Development Obligation occurs),
the Initial Licenses which Licensee has developed and opened for business shall remain unaffected; however, Licensee shall lose
the right to develop the remaining Initial Licenses and Licensor shall, within such Facilities, have the right to provide (or
contract with a third party to provide) services which may be competitive with Licensee’s services. For the avoidance of
doubt, Licensee may, upon mutual agreement by the Parties and the execution of an LMA for each license, develop and open for business
within Licensor facilities that are not listed on Schedule 1.2; however, such licenses shall not count toward the Development
Obligation unless such license is a substitute for an Initial License that is no longer available to Licensee due to an issue
with a Facility Owner or other cause beyond Licensee’s control.”


 




    	 



    	 



    

 


1.3       Section
3.3 of the Agreement shall be deleted in its entirety and replaced with the following:


 


“License
Grant Date. A License’s “Grant Date” shall be the date set forth in the applicable LMA or, with respect
to the Initial Licenses, the date set forth in section 1.5 of this Agreement.”


 


1.4       Section
5.2.2 of the Agreement shall be deleted in its entirety and replaced with the following:


 


“Equipment.
With respect to each License granted hereunder, each Sublicensee shall be permitted to make limited use of the fitness equipment
located outside of the Service Area at the Facility subject to such License (collectively, the “Equipment”),
provided that (a) such Equipment is not otherwise in use or needed by Licensor, Members or Licensor’s other guests or invitees,
(b) Sublicensee does not cause any particular piece of Equipment to be used continuously for more than 30 minutes, (c) each Customer
remains under the direct supervision of a Sublicensee-employed licensed physical therapist or licensed physical therapist assistant
at all times, it being understood and agreed that each such Sublicensee-employed personnel may supervise up to (but no more than)
three Customers at a time, (d) no more than nine Customers and three such Sublicensee-employed personnel are using Equipment at
any given time, it being understood and agreed that the Parties will revisit such cap at a later point if Licensor determines
that its Members’ use of the Equipment is being negatively impacted by a Sublicensee’s high usage thereof, and (e)
Sublicensee returns all moveable Equipment to its proper location within the Facility after each use.”


 


1.5       The
first sentence of Section 10.9 of the Agreement shall be deleted in its entirety and replaced with the following:


 


“General
or Facility Default. Any Default under sections 10.1 through 10.4 shall be deemed a “General Default” (in
which case Licensor may terminate this Agreement and all Licenses hereunder).”


 


1.6       Section
11.1.2 of the Agreement shall be deleted in its entirety and replaced with the following:


 


“For
Cause. Upon the occurrence of a General Default, Licensor may terminate this Agreement (and all Licenses granted hereunder)
by providing written notice thereof to Licensee; provided, however, that a General Default under section 10.5 caused only by a
particular Sublicensee shall allow Licensor to terminate all Licenses operated by such Sublicensee (rather than all Licenses under
this Agreement). For the avoidance of doubt, a General Default not under section 10.5 shall allow Licensor to terminate this Agreement
and all Licenses hereunder. Upon the occurrence of a Facility Default, Licensor may terminate the applicable License by providing
written notice thereof to Licensee. Licensor may also terminate this Agreement (and all Licenses granted hereunder) by providing
written notice thereof to Licensee in the event of: (a) three or more Facility Defaults by Licensee within any 12-month period,
or (b) three or more Facility License Agreement Defaults by the same Sublicensee.”


 






    	 	 	 



     


    

 


	2.	Conflicts.
                                         In the event of any inconsistency or conflict between the terms of the Agreement
                                         and this First Amendment, the terms of this First Amendment shall govern and control.



 


	3.	Effect
                                         of Amendment.



 


3.1       Ratification.
Except as expressly modified by this First Amendment, all terms of the Agreement shall remain in full force and effect and
are hereby ratified and confirmed in their entirety.








 


3.2       No
Waivers. The execution, delivery and performance of this First Amendment will not, except as expressly provided herein,
constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the parties under, the Agreement
or any other document relating to the Agreement.


 


3.3       References.
On and after the effective date hereof, each reference in the Agreement to “this Agreement,” “hereunder,”
“hereof,” “herein” or words of like import referring to the Agreement, and each reference in any other
document relating to the “Agreement,” “thereunder,” “thereof,” or words of like import referring
to the Agreement, means and references the Agreement as amended hereby.


 


	4.	Counterparts.
                                         This First Amendment may be executed in counterparts, each of which when executed
                                         and delivered shall be deemed to be an original, and all of which taken together shall
                                         constitute but one and the same instrument. The Parties agree that e-mail delivery of
                                         a .pdf copy of this First Amendment bearing authorized signatures may be treated as an
                                         original.



 


[Signature
Page Follows.]


 




    	 



    	 



    

 


IN
WITNESS WHEREOF, the Parties have caused this First Amendment to be executed and delivered by their duly authorized representatives,
as of the date written above.


 


	LAF CANADA COMPANY	 
	 	 	 
	By:	/s/
        Kathryn S. Polson

        

        
	 
	Name:	Kathryn
    S. Polson	 
	Title:	Chief
    Financial Officer	 
	 	 	 
	By:	/s/
    Todd von Sprecken	 
	Name:	Todd
        von Sprecken

        
	 
	Title:	Chief
    Development Officer	 
	 	 	 
	NONO HEALTHNET LIMITED, INC.	 
	 	 	 
	By:	/s/
        Robert Mattacchione

        
	 
	Name:	Robert
    Mattacchione	 
	Title:	Chairman	 



 






    	 



    	 



    

 


Schedule
1.2


 


Facilities
Subject to Initial Licenses


 


	1.	That
                                         certain Licensor facility no. [10117] located at [1380 Don Mills Road, Toronto,
                                         ON M3B 2X2] known as “LA Fitness Don Mills” 1500 sf upstairs –
                                         Monthly License Payment: $5,000.



 


	2.	That
                                         certain Licensor facility no. [10140] located at [3055 Vega Blvd. Mississauga,
                                         ON L5L 5Y3] known as “LA Fitness Mississauga – Vega Blvd.”
                                         528 sf – Monthly License Payment: $4,100.



 


	3.	That
                                         certain Licensor facility no. [10128] located at [33 William Kitchen Rd. Building
                                         J Unit 5, Scarborough, ON M1P 5B7] known as “LA Fitness Scarborough –
                                         William Kitchen Rd.” 800 sf – Monthly License Payment: $4,000



 


	4.	That
                                         certain Licensor facility no. [10130] located at [3003 Danforth Ave. Unit 40-42,
                                         Toronto, ON M4C 1M9] known as “LA Fitness Toronto – Danforth Ave.”
                                         – 600 sf Monthly License Payment: $4,200.



 


	5.	That
                                         certain Licensor facility no. [10142] located at [43 Junction Road, Toronto,
                                         ON M6N 1B5] known as “LA Fitness Toronto – Keele St.” –
                                         600 sf Monthly License Payment: $5,500.



 


	6.	That
                                         certain Licensor facility no. [10118] located at [225 Fletcher’s Creek
                                         Blvd. Brampton, ON L6X 0Y7] known as “LA Fitness – Brampton Northwest”
                                         800 sf – Monthly License Payment: $4,400



 


	7.	That
                                         certain Licensor facility no. [10124] located at [1117 Maple Ave. Milton, ON
                                         L9T 0A5] known as “LA Fitness – Milton” 850 sf – Monthly
                                         License Payment: $4,400



 


	8.	That
                                         certain Licensor facility no. [10138] located at [350 Taunton Road East, Whitby,
                                         ON L1R 0H4] known as “LA Fitness – Whitby” 490 sf –
                                         Monthly License Payment: $$3,200



 


	9.	That
                                         certain Licensor facility no. [10120] located at [1970 Eglinton Ave. East,
                                         Toronto, ON M1L 2M6] known as “LA Fitness – Scarboro” 780
                                         sf – Monthly License Payment: $4,800



 


	10.	That
                                         certain Licensor facility no. [10134] located at [15650 Bayview Avenue, Aurora,
                                         ON L4G 6J1] known as “LA Fitness – Aurora” 500 sf –
                                         Monthly License Payment: $3,400



 


	11.	That
                                         certain Licensor facility no. [10110] located at [264 Victoria Street N, Kitchener,
                                         ON N2H 5C8] known as “LA Fitness – Kitchener” 1400 sf –
                                         Monthly License Payment: $5,200



 


	12.	That
                                         certain Licensor facility no. [] located at [] known as “LA Fitness –
                                         Niagara Falls” 800 sf – Monthly License Payment: $4,200



 


	13.	That
                                         certain Licensor facility no. [10133] located at [90 Pinebush Rd. Cambridge,
                                         ON N1R 8J8] known as “LA Fitness – Cambridge” 800 sf –
                                         Monthly License Payment: $,5000.



 


	14.	That
                                         certain Licensor facility no. [10137] located at [3100 Dixie Road, Unit 14A,
                                         Mississauga, ON L4Y 2A6] known as “LA Fitness Mississauga – Dixie
                                         Rd.” 600 sf Monthly License Payment: $3,900



 


	15.	That
                                         certain Licensor facility no. [10129] located at [1326 Brant St., Burlington,
                                         ON L7P 1X8] known as “LA Fitness Burlington – Brant St.”
                                         600 sf – Monthly License Payment: $4,200



 


	16.	That
                                         certain Licensor facility no. [10115] located at [2959 Bovaird Drive East,
                                         Brampton, ON L6S 0C6] known as “LA Fitness – Brampton North”
                                         – 600 sf Monthly License Payment: $4,200



 


	17.	That
                                         certain Licensor facility no. [10127] located at [10167 186th St.
                                         NW, Edmonton, AB T5S 0G5] known as “LA Fitness – Edmonton 186th
                                         St.” 750 sf – Monthly License Payment: $4,650