Exhibit 4.4


 


ASSIGNMENT AND ASSUMPTION AGREEMENT


 





THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (the
 “Agreement”) is entered into and effective as of April 23, 2020 by and among Diamond Eagle Acquisition Corp.,
a Delaware corporation (“DEAC”), DEAC NV Merger Corp., a Nevada corporation and a wholly owned subsidiary of
DEAC (to be renamed “DraftKings Inc.” effective as of the Closing (as defined below)) (“New DraftKings”),
Continental Stock Transfer & Trust Company, a New York corporation (“Continental”) and Computershare Trust
Company, N.A., a federally chartered trust company and Computershare Inc., a Delaware corporation (collectively, “Computershare”).




 


WHEREAS, DEAC and Continental have
previously entered into a warrant agreement, dated as of May 10, 2019 (the “Warrant Agreement”) governing the
terms of DEAC’s 19,666,667 outstanding warrants to purchase shares of common stock of DEAC (the “Warrants”);
and


 


WHEREAS, DEAC has entered into a
Business Combination Agreement, dated as of December 22, 2019, as amended by Amendment No.1, dated as of April 7, 2020 (as amended,
the “Business Combination Agreement”), with New DraftKings, DraftKings Inc. (“DK”), SBTech
(Global) Limited (“SBT”), DEAC Merger Sub Inc., a wholly-owned subsidiary of DEAC (“DEAC Merger Sub”)
and the other parties thereto, pursuant to which (i) DEAC will change its jurisdiction of incorporation to Nevada by merging with
and into New DraftKings, with New DraftKings surviving the merger (the “Reincorporation”), (ii) following the
Reincorporation, DEAC Merger Sub Inc. will merge with and into DK, with DK surviving the merger (the “DK Merger”)
and (iii) immediately following the DK Merger, New DraftKings will acquire all of the issued and outstanding share capital of SBT
(the “Business Combination”); and


 


WHEREAS, effective upon the Business
Combination, holders of the shares of Class A common stock, par value $0.0001 per share, of DEAC (“DEAC Class A common
stock”) will receive, on a one-for-one basis, shares of Class A common stock, par value $0.0001 per share, of New DraftKings
(“New DraftKings Class A common stock”) in exchange for their shares of DEAC Class A common stock; and


 


WHEREAS, pursuant to Section 4.4
of the Warrant Agreement, upon the closing of the Business Combination (the “Closing”), the Warrants will represent
the right of the holders thereof to purchase shares of New DraftKings Class A common stock; and


 


WHEREAS, as a result of the foregoing,
the parties hereto wish for DEAC to assign to New DraftKings all of DEAC’s rights and interests and obligations in and under
the Warrant Agreement and for New DraftKings to accept such assignment, and assume all of DEAC’s obligations thereunder,
in each case, effective upon the Closing;


 


WHEREAS, effective upon the Closing,
New DraftKings wishes to appoint Computershare to serve as successor Warrant Agent and Transfer Agent under the Warrant Agreement;
and


 


WHEREAS, in connection with and effective
upon such appointment, Continental wishes to assign all of its rights, interests and obligations as Warrant Agent and Transfer
Agent under the Warrant Agreement, as hereby amended, to Computershare, Computershare wishes to assume all of such rights, interests
and obligations and New DraftKings wishes to approve such assignment and assumption.


 


NOW, THEREFORE, for good
and valuable consideration, receipt of which is hereby acknowledged, the parties hereby agree as follows:


  


1.        
Assignment and Assumption of Warrant Agreement. DEAC hereby assigns, and New DraftKings hereby agrees to accept and assume,
effective as of the Closing, all of DEAC’s rights, interests and obligations in, and under the Warrant Agreement and Warrants.
Unless the context otherwise requires, from and after the Closing, any references in the Warrant Agreement or the Warrants to:
(i) the “Company” shall mean New DraftKings; (ii) “Common Stock” shall mean the shares of New DraftKings
Class A common stock; and (iii) the “Board of Directors” or the “Board” or any committee thereof shall
mean the board of directors of New DraftKings or any committee thereof.


 






     

     


    

 


2.         
Appointment of Successor Warrant Agent and Transfer Agent. New DraftKings hereby appoints Computershare to serve as successor
Warrant Agent and Transfer Agent under the Warrant Agreement and Continental hereby assigns, and Computershare hereby agrees to
accept and assume, effective as of the Closing, all of Continental’s rights, interests and obligations in, and under the
Warrant Agreement and Warrants, as Warrant Agent and Transfer Agent. Unless the context otherwise requires, from and after the
Closing, any references in the Warrant Agreement and the Warrants to the “Warrant Agent” or “Transfer Agent”
shall mean Computershare. Any notice, statement or demand authorized by the Warrant Agreement to be given or made by the holder
of any Warrant or by the Company to or on the Warrant Agent pursuant to Section 9.2 shall be delivered to:


 


Computershare Trust Company, N.A.


Computershare Inc.


462 South 4th Street


Louisville, Kentucky 40202


Attn: Brandon Roth


 


3.          Replacement
Instruments. Following the Closing, upon request by any holder of a Warrant, New DraftKings shall issue a new instrument for
such Warrant reflecting the adjustment to the terms and conditions described herein and in Section 4.4 of the Warrant Agreement.


 


4.         
Amendment to Warrant Agreement. To the extent required by this Agreement, the Warrant Agreement is hereby deemed amended pursuant
to Section 9.8 thereof to reflect the subject matter contained herein, effective as of the Closing, including the following.


 


		a.	Section 5.5 is hereby amended to add the following as the final sentence thereof.



“The Warrant Agent may countersign a Definitive
Warrant Certificate in manual of facsimile form.”


 


		b.	Section 8.1 is hereby amended to add the following sentence:



 


“The Warrant Agent shall not have any duty or
obligation to take any action under any section of this Agreement that requires the payment of taxes and/or charges unless and
until it is satisfied that all such payments have been made.”


 


		c.	The first sentence of Section 8.2.1 is amended such the sixty (60) days’ notice period is replaced by thirty (30) days.
The following language is inserted as the second sentence of Section 8.2.1.



 


“If for any reason the transfer agency relationship
in effect between the Company and the Transfer Agent terminates, the Warrant Agent will be deemed to have resigned automatically
and be discharged from its duties under this Agreement”


 


		d.	Section 8.3.1 is hereby amended and restated in its entirety as follows:



 


“Remuneration. The Company agrees to pay
to the Warrant Agent reasonable compensation for all services rendered by it hereunder in accordance with a fee schedule to be
mutually agreed upon and, from time to time, on demand of the Warrant Agent, to reimburse the Warrant Agent for all of its reasonable
and documented out-of-pocket expenses and counsel fees and other disbursements incurred in the preparation, delivery, negotiation,
amendment, administration and execution of this Agreement and the exercise and performance of its duties hereunder.”


 


		e.	Section 8.4.1 is hereby amended and restated in its entirety as follows:



 


“Reliance on Company Statement. Whenever
in the performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or matter
be proved or established by the Company prior to taking, suffering, or omitting to take any action hereunder, such fact or matter
may be deemed to be conclusively proved and established by a certificate signed by a person believed by the Warrant Agent to be
the Chief Executive Officer, the Chief Financial Officer, Chief Legal Officer, the President, Executive Vice President, Vice President,
Secretary or Chairman of the Board of the Company (each an authorized officer); and such certificate shall be full authorization
and protection to the Warrant Agent and the Warrant Agent shall incur no liability for or in respect of any action taken, suffered
or omitted to be taken by it under the provisions of this Agreement in reliance upon such certificate.”


 






     

     


    

 


		f.	Section 8.4.2 is hereby amended and restated in its entirety as follows:



 


“Indemnity; Limitation on Liability. The
Company also covenants and agrees to indemnify the Warrant Agent for, and to hold it harmless against, any and all loss, liability,
damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable fees
and expenses of legal counsel) (“Losses”) that may be paid, incurred or suffered by it, or which it may become
subject, other than such Losses arising in connection with the gross negligence, bad faith or willful misconduct on the part of
the Warrant Agent (which gross negligence, bad faith, or willful misconduct must be determined by a final, non-appealable judgment
of a court of competent jurisdiction), for any action taken, suffered, or omitted to be taken by the Warrant Agent in connection
with the execution, acceptance, administration, exercise and performance of its duties under this Agreement, including the costs
and expenses of defending against any claim of liability arising therefrom, directly or indirectly, or enforcing its rights hereunder.
The costs and expenses incurred in enforcing this right of indemnification shall be paid by the Company. The Warrant Agent shall
be liable hereunder only for its own gross negligence, bad faith or willful misconduct (which gross negligence, bad faith or willful
misconduct must be determined by a final, non-appealable judgment of a court of competent jurisdiction). Notwithstanding anything
in this Agreement to the contrary, any liability of the Warrant Agent under this Agreement will be limited to the amount of annual
fees paid by the Company to the Warrant Agent during the twelve (12) months immediately preceding the event for which recovery
from the Warrant Agent is being sought. Anything to the contrary notwithstanding, in no event will the Warrant Agent be liable
for special, punitive, indirect, incidental or consequential loss or damages of any kind whatsoever (including, without limitation,
lost profits), even if the Warrant Agent has been advised of the likelihood of such loss or damages, and regardless of the form
of action. The provisions under this Section 8 shall survive the expiration of the Warrant and the termination of this Agreement
and the resignation, replacement or removal of the Warrant Agent.”


 


		g.	Section 8.5 is hereby amended and restated in its entirety as follows:



 


“Acceptance of Agency. The Warrant Agent
hereby accepts the agency established by this Agreement and agrees to perform the same upon the express terms and conditions (and
no implied terms and conditions) herein set forth and among other things shall account for, and pay to the Company, all monies
received by the Warrant Agent for the purchase of shares of Common Stock through the exercise of the Warrants. The Warrant Agent
shall act hereunder solely as agent for the Company. The Warrant Agent shall not assume any obligations or relationship of agency
or trust with any of the owners or holders of the Warrants or Common Stock. The Warrant Agent shall not have any duty or responsibility
in the case of the receipt of any written demand from any holder of Rights with respect to any action or default by the Company,
including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any
proceedings at law or otherwise or to make any demand upon the Company. The Warrant Agent shall have no responsibility to the Company,
any holders of Warrants, any holders of shares of Common Stock or any other Person for interest or earnings on any moneys held
by the Warrant Agent pursuant to this Agreement.”


 


		h.	Section 8.6 is hereby deleted.



 






     

     


    

 


		i.	The following provisions are hereby incorporated into Section 8 in the numerical order set forth below:



 


“8.5 Legal Counsel. The Warrant Agent may
consult with legal counsel selected by it (who may be legal counsel for the Company), and the opinion or advice of such counsel
shall be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it in accordance
with such advice or opinion.


 


8.6 Reliance on Agreement and Warrants. The Warrant
Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Warrants
(except as to its countersignature thereof) or be required to verify the same, but all such statements and recitals are and shall
be deemed to have been made by the Company only.


 


8.7 No Responsibility as to Certain Matters.
The Warrant Agent shall not be under any responsibility in respect of the validity of this Agreement or the execution and delivery
hereof (except the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Right Certificate
(except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained
in this Agreement or in any Warrant; nor shall it be responsible for any change in the exercisability of the Warrant any adjustment
required under this Agreement or responsible for the manner, method or amount of any such adjustment or the ascertaining of the
existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any securities to be issued pursuant to this Agreement or any Warrant or
as to whether any other securities will, when so issued, be validly authorized and issued, fully paid and nonassessable.


 


8.8 Freedom to Trade in Company Securities. Subject
to applicable laws, the Warrant Agent and any stockholder, director, officer or employee of the Warrant Agent may buy, sell or
deal in any of the Warrant or other securities of the Company or become pecuniarily interested in any transaction in which the
Company may be interested, or contract with or lend money to the Company or otherwise act as fully and freely as though it were
not Warrant Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the
Company or for any other legal entity.


 


8.9 Reliance on Attorneys and Agents. The Warrant
Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by
or through its attorneys or agents, and the Warrant Agent shall not be answerable or accountable for any act, omission, default,
neglect or misconduct of any such attorneys or agents or for any loss to the Company resulting from any such act, omission, default,
neglect or misconduct, absent gross negligence, willful misconduct or bad faith in the selection and continued employment thereof
(which gross negligence, willful misconduct or bad faith must be determined by a final, non-appealable judgment of a court of competent
jurisdiction).


 


8.10 No Risk of Own Funds. No provision of this
Agreement shall require the Warrant Agent to expend or risk its own funds or otherwise incur any financial liability in the performance
of any of its duties hereunder or in the exercise any of its rights or powers if it believes that repayment of such funds or adequate
indemnification against such risk or liability is not reasonably assured to it.


 


8.11 No Notice. The Warrant Agent shall not be
required to take notice or be deemed to have notice of any event or condition hereunder, including any event or condition that
may require action by the Warrant Agent, unless the Warrant Agent shall be specifically notified in writing of such event or condition
by the Company, and all notices or other instruments required by this Agreement to be delivered to the Warrant Agent must, in order
to be effective, be received by the Warrant Agent as specified in Section 9.2 hereof, and in the absence of such notice so delivered,
the Warrant Agent may conclusively assume no such event or condition exists.


 


8.12 Ambiguity. In the event the Warrant Agent
believes any ambiguity or uncertainty exists hereunder or in any notice, instruction, direction, request or other communication,
paper or document received by the Warrant Agent hereunder, the Warrant Agent, may, in its sole discretion, refrain from taking
any action, and shall be fully protected and shall not be liable in any way to Company, the holder of any Warrant or any other
person for refraining from taking such action, unless the Warrant Agent receives written instructions signed by the Company which
eliminates such ambiguity or uncertainty to the satisfaction of Warrant Agent.


 






     

     


    

 


8.13 Non-Registration. The Warrant Agent shall
not be liable or responsible for any failure of the Company to comply with any of its obligations relating to any registration
statement filed with the Securities and Exchange Commission or this Agreement, including without limitation obligations under applicable
regulation or law.


 


8.14 Signature Guarantee. The Warrant Agent may
rely on and be fully authorized and protected in acting or failing to act upon (a) any guaranty of signature by an “eligible
guarantor institution” that is a member or participant in the Securities Transfer Agents Medallion Program or other comparable
 “signature guarantee program” or insurance program in addition to, or in substitution for, the foregoing; or (b) any
related law, act, regulation or any interpretation of the same.


 


8.15 Authorized Officers. The Warrant Agent shall
be fully authorized and protected in relying upon written instructions received from any authorized officer of the Company and
shall not be liable for any action taken, suffered or omitted to be taken by, the Warrant Agent in accordance with such advice
or instructions.


 


8.16 Transfer Agent. For the avoidance of doubt,
the Transfer Agent has the same rights and immunities as the Rights Agent set forth in this Section 8 in the performance of its
duties under this Agreement.”


 


Section 9.8 is hereby amended to add the following sentences
to the end of that provision:


 


“No supplement or amendment to this Agreement
shall be effective unless duly executed by the Warrant Agent and the Company. Upon the delivery of a certificate from an authorized
officer of the Company which states that the proposed supplement or amendment is in compliance with the terms of this Section 9.8,
the Warrant Agent shall execute such supplement or amendment. Notwithstanding anything in this Agreement to the contrary, the Warrant
Agent shall not be required to execute any supplement or amendment to this Agreement that it has determined would adversely affect
its own rights, duties, obligations or immunities under this Agreement.”


 


Section 9.9 is hereby amended to remove the period at
the end of the first sentence and add the following:


 


“; provided, however, that if the exclusion of
such provision shall adversely affect the rights, immunities, liabilities, duties or obligations of the Warrant Agent, the Warrant
Agent shall be entitled to resign immediately upon written notice to the Company.”


 


5.          Governing
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, as such laws
are applied to contracts entered into and performed in such State without resort to that State’s conflict-of-laws rules.


 


6.          Counterpart.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument. Execution and delivery of this Agreement by email or exchange of facsimile copies bearing
the facsimile signature of a party hereto shall constitute a valid and binding execution and delivery of this Agreement by such
party.


 


7.          Successors
and Assigns. All the covenants and provisions of this Agreement shall bind and inure to the benefit of each party’s respective
successors and assigns.


 






     

     


    

 


8.        Entire
Agreement. This Agreement and the Warrant Agreement, as hereby amended constitute the entire agreement, and supersedes all
prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof and
thereof.


 


9.        Indemnification.
The Company agrees to indemnify, defend and hold Computershare harmless from and to hold it harmless against, any and all loss,
liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including, without limitation, the reasonable
fees and expenses of legal counsel) that may be paid, incurred or suffered by it, or which it may become subject arising out of
the assignment contemplated hereunder in connection with events occurring before the date of this Agreement.


 


[Signature Pages Follow] 


 




     

     


    

 


IN WITNESS WHEREOF, the parties hereto have
signed this Agreement as of the date and year first written above.


 


	 	DIAMOND EAGLE ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Eli
Baker
	 	 	Name: Eli Baker
	 	 	Title:   President, Chief Financial Officer and Secretary



 



     

     


    

 


	 	DEAC NV MERGER CORP.
	 	 	 
	 	By:	/s/ Eli Baker
	 	 	Name: Eli Baker
	 	 	Title:   Secretary and Vice Chairman



 



     

     


    

 


	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/ Henry
Farrell
	 	 	Name: Henry Farrell
	 	 	Title:   Vice President 


 






     

     


    

 





	 

         
	
        Computershare Trust
        Company, N.A. and

        Computershare, Inc.,

        On behalf of both entities

	 	 	 
	 	By:	/s/ Thomas
Borbely
	 	 	Name: Thomas Borbely
	 	 	Title:   Manager, Corporate Actions