Document:

EX-10.8

 Exhibit 10.8 
  

 
  

STANDSTILL AGREEMENT 
 BY AND
AMONG 
 MSG ENTERTAINMENT SPINCO, INC. 

(TO BE RENAMED MADISON SQUARE GARDEN ENTERTAINMENT CORP.) 

AND 
 THE DOLAN FAMILY GROUP 

 
  

 

 STANDSTILL AGREEMENT 

Standstill Agreement (this “Agreement”), dated as of [●], 2020, by and among MSG Entertainment Spinco, Inc. (to be
renamed Madison Square Garden Entertainment Corp.), a Delaware corporation (the “Company”), each of the members of the Dolan Family Group listed on Schedule I to this Agreement (the “Dolan Family Parties”) and, as
and to the extent provided herein, their transferees, successors and assigns. 
 WITNESSETH: 

WHEREAS, as of the date of this Agreement, the Dolan Family Parties own all of the outstanding shares of Class B Common Stock of The
Madison Square Garden Company, par value $.01 per share (“MSG Class B Common Stock”), and also own shares of Class A Common Stock of The Madison Square Garden Company, par value $.01 per share (“MSG
Class A Common Stock”); 
 WHEREAS, The Madison Square Garden Company intends to distribute (the
“Distribution”) to the holders of MSG Class A Common Stock all of the outstanding shares of the Company’s Class A Common Stock, $.01 par value (the “Class A Common Stock”), and to
the holders of MSG Class B Common Stock all of the outstanding shares of the Company’s Class B Common Stock, $.01 par value (the “Class B Common Stock” and, together with the Class A Common
Stock, the “Common Stock”); and 
 WHEREAS, the Company and the Dolan Family Parties wish to provide for certain
restrictions that will be applicable to the Dolan Family Parties following the Distribution, all as provided herein. 

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

	 	1.	 Standstill Agreement. 

During the 12-month period beginning on the date the Distribution is consummated (the
“Distribution Date”), the Dolan Family Parties shall obtain the prior approval of a majority of the Company’s Independent Directors prior to acquiring Common Stock of the Company through a tender offer that results in members
of the Dolan Family Group beneficially owning more than 50% of the total number of outstanding shares of Common Stock of the Company. For purposes of this Standstill Agreement, the term “Independent Directors” means the directors of
the Company who have been determined by the Company’s Board of Directors to be independent directors for purposes of the New York Stock Exchange corporate governance standards. 

 

	 	2.	 Transfers and Related Matters. 

(a) Transfers. Each Dolan Family Party agrees that if at any time or from time to time prior to the first anniversary of the
Distribution Date it desires to sell, transfer or otherwise dispose of, directly or indirectly (including any transfer of equity or beneficial interests in an entity that is a Dolan Family Party or any other entity to which shares of Class B
Common Stock may have been transferred, directly or indirectly) (a “Transfer”), any or all of its shares of Class B Common Stock to any Dolan Person (as defined below) who is not a Dolan Family Party, such Dolan Family Party
shall, prior to the consummation of such Transfer, cause the transferee to execute a joinder agreement in the form attached hereto as Exhibit A (a “Joinder”), pursuant to which such transferee shall agree to be bound by the

  
 2 

 
provisions of this Standstill Agreement as a Dolan Family Party. In addition, if prior to the first anniversary of the Distribution Date, any person becomes a member of the Dolan Family Group,
the Dolan Family Parties shall cause such person to execute a Joinder. “Dolan Person” means any individual who is a member of the “immediate family” (as defined in Rule 16a-1(e)
under the Securities Exchange Act of 1934, as amended) of a Dolan Family Party; an entity that controls, is controlled by, or is under common control with, a Dolan Family Party; or a trust or estate in which a Dolan Family Party has an interest
(including as a trustee or beneficiary). 
 (b) Legends. The Company may, at its election, require that any certificate representing
shares of Class B Common Stock that are covered by this Standstill Agreement and that are issued prior to the first anniversary of the Distribution Date shall have endorsed thereon a legend which shall read substantially as follows: 

“The shares represented by this certificate are held subject to the terms of a certain Standstill Agreement, dated [●], 2020, by and
among Madison Square Garden Entertainment Corp. and the Dolan Family Group, as amended from time to time, a copy of which is on file with the Secretary of Madison Square Garden Entertainment Corp., and such shares may not be sold, transferred or
otherwise disposed of, directly or indirectly, except in accordance with the terms of such Standstill Agreement.” 
 Following the first anniversary of
the Distribution Date, any stockholder may require the Company to remove the foregoing legend from any of such stockholder’s share certificates promptly after the surrender of any such certificate for such purpose. 

  
 3 

	 	3.	 Miscellaneous. 

(a) Specific Performance. The Company and each Dolan Family Party acknowledge that it will be impossible to measure in money the damage
to a party hereto if another party fails to comply with any of the obligations imposed by this Standstill Agreement, that every such obligation herein is material and that, in the event of any such failure, the
non-breaching party will not have an adequate remedy at law or in damages. Accordingly, each party hereto consents to the issuance of an injunction or the enforcement of other equitable remedies against it
without bond or other security, to compel performance by such party of all the terms hereof, and waives any defenses of (i) failure of consideration, (ii) breach of any other provision of this Agreement and (iii) availability of
relief in damages. 
 (b) Amendments. This Standstill Agreement may not be amended, modified or altered except by a writing duly
signed by the party against which such amendment or modification is sought to be enforced and with the consent of a majority of the Independent Directors. 

(c) Successors and Assigns. This Standstill Agreement shall be binding upon and inure to the benefit of the Company, the Dolan Family
Parties and the respective successors and permitted assigns of the Company and the Dolan Family Parties. This Standstill Agreement may not be assigned by either the Company or a Dolan Family Party without the prior written consent of the other party
hereto. The Company shall assign its rights and obligations hereunder (and no consent thereto shall be required under this Section 3(c)) to any entity that succeeds to all or substantially all of its assets, by merger or otherwise, including to
any holding company that may be formed to be the parent of the Company, if such entity becomes the issuer of the securities then owned by the Dolan Family Parties. 

  
 4 

 (d) Termination. This Agreement shall terminate on the first anniversary of the date
hereof, but a termination shall not affect any rights accrued prior to such termination. 
 (e) Counterparts. This Standstill
Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. 

(f) Headings. The headings in this Standstill Agreement are for reference purposes only and shall not constitute a part hereof. 

(g) Construction. This Standstill Agreement shall be governed by, and construed in accordance with, the internal laws of the
State of New York without giving any effect to principles of conflicts of laws. 
 (h) Notices. All notices hereunder shall be in
writing and shall be deemed to have been given at the time when mailed by certified mail, addressed to the address below stated of the party to which notice is given, or to such changed address as such party may have fixed by notice: 

  
 5 

 To the Company: 

MSG Entertainment Spinco, Inc. (to be renamed Madison Square Garden Entertainment Corp.) 

Two Pennsylvania Plaza 
 New
York, NY 10121 
 Attn: General Counsel 

Facsimile: 
 Email: 

To a Dolan Family Party: 
 c/o
Brian G. Sweeney 
 91 Cove Neck Road 

Oyster Bay, NY 11771 

Facsimile: (516) 992-4790 

E-mail: bgsweeney@gmail.com 

With copies to (which shall not constitute notice): 

Dolan Family Office LLC 
 340
Crossways Park Drive 
 Woodbury, New York 11797 

Attn: Dennis H. Javer 

Facsimile: (516) 226-1188 

E-mail: DJaver@dfollc.com 

and 
 Debevoise &
Plimpton LLP 
 919 Third Avenue 

New York, New York 10022 

Attention: Michael Diz 

Facsimile: (212) 521-7936 

E-mail: madiz@debevoise.com 

provided, however, that any notice of change of address shall be effective only upon receipt. 

(i) Severability. If any provision of this Standstill Agreement or the application of any provision hereof to any person or circumstance
is held invalid, the remainder of this Standstill Agreement and the application of such provision to other persons or circumstances shall not be affected unless the provision held invalid shall substantially impair the benefits of the remaining
portions of this Standstill Agreement. 

  
 6 

 (j) Entire Agreement. This Standstill Agreement is intended by the parties as a final
expression of their agreement and is intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or
undertakings, other than those set forth or referred to herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 

(k) Attorneys’ Fees. In any action or proceeding brought to enforce any provision of this Agreement, or where any provision hereof
is validly asserted as a defense, the successful party shall be entitled to recover reasonable attorneys’ fees in addition to any other available remedy. 

  
 7 

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

			
	MSG ENTERTAINMENT SPINCO, INC. (to be renamed Madison Square Garden Entertainment Corp.)
		
	By:	 	                        
	Title:	 	

  

	
	CHARLES F. DOLAN, individually, and as Trustee of the Charles F. Dolan 2009 Revocable Trust and existing and future Grantor Retained Annuity Trusts for his benefit
	
	  

	Charles F. Dolan
	
	HELEN A. DOLAN, individually, and as Trustee of the Helen A. Dolan 2009 Revocable Trust and existing and future Grantor Retained Annuity Trusts for her benefit
	
	  

	Helen A. Dolan
	
	JAMES L. DOLAN, individually
	
	  

	James L. Dolan

 [Signature Page to Standstill Agreement] 

 
	
	THOMAS C. DOLAN, individually
	
	  

	Thomas C. Dolan
	
	MARIANNE DOLAN WEBER, individually
	
	  

	Marianne Dolan Weber
	
	DEBORAH A. DOLAN-SWEENEY, individually
	
	  

	Deborah A. Dolan-Sweeney
	
	KATHLEEN M. DOLAN, individually, and as a Trustee of the Charles F. Dolan Children Trusts FBO Kathleen M. Dolan, Deborah A. Dolan-Sweeney, Marianne Dolan Weber, Thomas C. Dolan and James L. Dolan, and as Trustee of the Ryan Dolan
1989 Trust and the Tara Dolan 1989 Trust
	
	  

	Kathleen M. Dolan
	
	PAUL J. DOLAN, not individually, but as a Trustee of the Charles F. Dolan Children Trust FBO Kathleen M. Dolan and the Charles F. Dolan Children Trust FBO James L. Dolan

 [Signature Page to Standstill Agreement] 

 

 
	
	
	  

	Paul J. Dolan
	
	MATTHEW J. DOLAN, not individually, but as a Trustee of the Charles F. Dolan Children Trusts FBO Marianne Dolan Weber and the Charles F. Dolan Children Trust FBO Thomas C. Dolan
	
	  

	Matthew J. Dolan
	
	MARY S. DOLAN, not individually, but as a Trustee of the Charles F. Dolan Children Trust FBO Deborah A. Dolan-Sweeney, the Charles F. Dolan 2009 Family Trusts, the Charles F. Dolan 2012 Grandchildren Trusts and the Charles F. Dolan
2012 Descendants Trust
	
	  

	Mary S. Dolan
	
	CORBY DOLAN LEINAUER, not individually, but as a Trustee of the Charles F. Dolan 2009 Family Trusts, the Charles F. Dolan 2012 Grandchildren Trusts and the Charles F. Dolan 2012 Descendants Trust
	
	  

	Corby Dolan Leinauer

 [Signature Page to Standstill Agreement]EX-10.9

 Exhibit 10.9 

INDEMNIFICATION AGREEMENT 

This INDEMNIFICATION AGREEMENT is made this              day of
                     (the “Agreement”) by and between MSG Entertainment Spinco, Inc., a Delaware corporation (to be renamed Madison
Square Garden Entertainment Corp., and referred to herein as the “Company”), and
                                     (“Indemnitee”).

 WHEREAS, Indemnitee is [a][an] [director][officer] of the Company and may also be serving or may serve in the future in another Position
(as hereinafter defined) at an Affiliated Entity (as hereinafter defined); 
 WHEREAS, in consideration of the Indemnitee acting in the
Position or Positions and assuming the responsibilities attendant to the Position or Positions, the Company desires to provide Indemnitee the rights to indemnification and payment or reimbursement of expenses described below; 

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company and Indemnitee do hereby covenant and agree as follows: 
 Section 1. Definitions. For purposes of
this Agreement: 
 (a) “Change of Control” means, and shall be deemed to have occurred if, on or after the date of
this Agreement, (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than (A) a trustee or other fiduciary holding
securities under an employee benefit plan of the Company or any of its subsidiaries acting in such capacity, or (B) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than
20% of the total voting power represented by the Company’s then outstanding Voting Securities at a time when Dolan Family Control does not exist, (ii) during any period of two consecutive years, individuals who at the beginning of such
period constitute the board of directors of the Company and any new director whose election by the board of directors of the Company or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2⁄3) 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 a majority thereof at a time when Dolan Family Control does not exist, (iii) the stockholders of the Company approve a merger or consolidation of the
Company with any other corporation other than a merger or consolidation that would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, (iv) the
stockholders of the Company approve a plan of complete liquidation of the Company or an agreement 

 
for the sale or disposition by the Company of (in one transaction or a series of related transactions) all or substantially all of its assets, or (v) the Company shall file or have filed
against it, and such filing shall not be dismissed, any bankruptcy, insolvency or dissolution proceedings, or a trustee, administrator or creditors committee shall be appointed to manage or supervise the affairs of the Company. 

(b) “Dolan Family Control” shall be deemed to exist if at the time, members of the immediate family, including
descendants, of Charles F. Dolan or trusts or other family entities holding securities on their behalf, “beneficially own” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
securities of the Company representing more than 51% of the total voting power represented by the Company’s then outstanding Voting Securities. 

(c) “Expenses” shall include all out of pocket fees, costs and expenses, including, without limitation,
attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, postage, delivery service fees, and all other disbursements or expenses of the types
customarily incurred if Indemnitee is involved in any manner (including, without limitation, as a party or a witness) in any Proceeding (as hereinafter defined) and the fees and costs incurred in seeking to enforce, interpret or construe an
indemnification, reimbursement or payment right under this Agreement, the Company’s or any subsidiary’s certificate of incorporation or by-laws, any other agreement to which Indemnitee and the
Company or any of its subsidiaries are party, any vote of stockholders or directors of the Company or any of its subsidiaries, the Delaware General Corporation Law (the “DGCL”), any other applicable law or any liability insurance policy or
in connection with a determination contemplated by Section 5 of this Agreement. 
 (d) “Position” is
(a) service as a director, officer, partner, trustee, fiduciary, manager or employee of the Company or of any other corporation, limited liability company, public limited company, partnership, joint venture, trust, employee benefit plan, fund
or other enterprise as to which the Company beneficially owns, directly or indirectly, at least a majority of the voting power of equity or membership interests, or in the case of employee benefit plans, is sponsored or maintained by the Company or
one of the foregoing (any of the foregoing, an “Affiliated Entity”) or (b) service at the request of the Company as a director, officer, partner, trustee, fiduciary, manager or employee of a corporation, limited liability company,
public limited company, partnership, joint venture, trust, employee benefit plan, fund or other enterprise which is not an Affiliated Entity (an “Unaffiliated Entity”), provided, however, that such request for service has been approved in
writing by the Board of Directors of the Company or a committee thereof or by the Executive Chairman or Chief Executive Officer of the Company. 

(e) “Proceeding” shall mean any civil, criminal, administrative or investigative action, suit, proceeding or
procedure in which the Indemnitee is involved in any manner by reason of the fact of the Indemnitee’s Position or Positions, including, without limitation, as a party or a witness. 

  
 - 2 - 

 (f) “Undertaking” shall mean an undertaking by Indemnitee to repay
Expenses if it shall ultimately be determined by a court of competent jurisdiction from which no appeal can be taken that Indemnitee is not entitled to be indemnified by the Company. 

(g) “Voting Securities” means any securities of the Company that vote generally in the election of directors. 

Section 2. Indemnification — General. The Company shall indemnify, subject to the terms of this Agreement, Indemnitee against
all judgments, awards, fines, ERISA excise taxes, penalties, amounts paid in settlement, liabilities and losses and shall pay or reimburse all Expenses incurred by Indemnitee, subject to the terms of this Agreement, to the fullest extent permitted
by Delaware law in effect on the date hereof or as amended to increase the scope of permitted indemnification, if Indemnitee is involved in any manner (including, without limitation, as a party or a witness) in any Proceeding by reason of the fact
of Indemnitee’s Position or Positions, including, without limitation, any Proceeding by or in the right of the Company to procure a judgment in its favor, but excluding any Proceeding initiated by Indemnitee other than (i) Proceedings
initiated by Indemnitee which are consented to in advance in writing by the Company and (ii) counterclaims made by Indemnitee in a Proceeding which directly respond to and negate the affirmative claim made against Indemnitee in such Proceeding.
In the event Indemnitee incurs Expenses or settles a Proceeding under circumstances in which the Company would have an obligation to indemnify Indemnitee for the Expenses or settlement amount, the Company may discharge its indemnification obligation
by making payments on behalf of Indemnitee directly to the parties to whom such Expenses or settlement amounts are owed by Indemnitee. Notwithstanding the foregoing, the Company will also, to the fullest extent permitted by Delaware law in effect on
the date hereof or as amended to increase the scope of permitted indemnification, indemnify, reimburse and pay Indemnitee for Expenses incurred in seeking to enforce, interpret or construe an indemnification, reimbursement or payment right under
this Agreement, the Company’s or any subsidiary’s certificate of incorporation or by-laws, any other agreement to which Indemnitee and the Company or any of its subsidiaries are party, any vote of
stockholders or directors of the Company or any of its subsidiaries, the DGCL, any other applicable law or any liability insurance policy. 

Section 3. Expenses. Upon receipt by the Company of an Undertaking by Indemnitee, the Company shall pay or reimburse Expenses
incurred by Indemnitee in connection with a Proceeding, any action or proceeding contemplated by the last sentence of Section 2 of this Agreement and any determination contemplated by Section 5 of this Agreement, in each case in advance of
its final disposition. The Company shall not impose other conditions to advancement and shall not seek or agree to any order that would prohibit Indemnitee from enforcing such right to advancement. Such payment shall be made within thirty (30)
days after the receipt by the Company of a written request from Indemnitee requesting reimbursement or payment of such Expenses. Such request shall reasonably evidence the Expenses incurred by Indemnitee. The burden of proving that the Company is
not liable for reimbursement or payment of Expenses shall be on the Company. 

  
 - 3 - 

 Section 4. Limitations. The Company shall not indemnify Indemnitee (1) if
such indemnification or payment would be prohibited under any applicable laws, rules or regulations, (2) for an accounting of profits arising from the purchase and sale by the Indemnitee of securities under Section 16(b) of the Exchange
Act, or (3) for violations of Federal or state insider trading laws, unless, in each such case, Indemnitee has been successful on the merits, received the Company’s written consent prior to incurring an Expense or, after receiving the
Company’s written consent to incurring the cost of settlement, settled the Proceeding. This Section 4 shall not limit the Company’s obligation to advance Expenses to Indemnitee pursuant to Section 3 of this Agreement. 

Section 5. Standard of Conduct. No claim for indemnification shall be paid by the Company unless it has been determined that
Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct
was unlawful, which is the standard of conduct set forth in Section 145 of the DGCL (as such, the “Standard of Conduct”, with such Standard of Conduct to be automatically revised to conform to any successor provision of the DGCL that
is more favorable to Indemnitee) except that no indemnification shall be made with respect to any Proceeding by or in right of the Company as to which the Indemnitee shall have been adjudged to be liable to the Company, except as determined by the
court or other tribunal adjudicating the Proceeding. Unless (1) a Change of Control (as defined in Section 1 of this Agreement) shall have occurred, or (2) ordered by a court or other tribunal, such determinations of whether the
Standard of Conduct has been satisfied shall be made by (A) a majority vote of the directors of the Company who are not parties to the Proceeding, even though less than a quorum, or (B) by a committee of such directors designated by a
majority vote of such directors, even though less than a quorum, or (C) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion, or (D) by stockholders of the Company. If a Change
of Control has occurred, such determination of whether the Standard of Conduct has been satisfied shall be made by independent legal counsel in a written opinion to the Company and Indemnitee. Such independent legal counsel shall be selected by
Indemnitee and approved by the Company (which approval shall not be unreasonably withheld or delayed). The Company shall pay the fees and expenses of the independent legal counsel and indemnify the independent legal counsel against any and all
expenses (including attorneys’ fees), claims, liabilities and damages arising out of or relating to its engagement and shall indemnify, reimburse and pay Indemnitee for Expenses incurred in connection with such determination. Indemnitee shall
be deemed to have met the Standard of Conduct if the determination is not made by the Company within sixty days of receipt by the General Counsel of a written request by Indemnitee for indemnity. If the Indemnitee has been determined not to have met
the Standard of Conduct, Indemnitee may commence litigation in any court in the State of Delaware having subject matter jurisdiction thereof and in which venue is proper seeking an initial de novo determination by the court or challenging any such
determination or any aspect thereof, including the legal or factual bases therefor, and the Company hereby consents to service of process and agrees to appear in any such proceeding. Any determination under this Section 5 otherwise shall be
conclusive and binding on the Company and Indemnitee. In no event shall a determination be a prerequisite to or affect the Company’s obligation to advance Expenses to Indemnitee pursuant to Section 3 of this Agreement. 

  
 - 4 - 

 Section 6. Contribution. If the full indemnification and payment or
reimbursement of Expenses provided by this Agreement may not be paid to Indemnitee because it has been finally adjudicated that such indemnification or payment or reimbursement of Expenses incurred by Indemnitee is prohibited by Delaware or other
law, or if it has been determined as provided above that the Standard of Conduct has not been met, and if and to the extent that Indemnitee is not entitled to coverage under the Company’s directors and officers liability insurance policy, then
in respect of any such actual or threatened Proceeding in which the Company or an Affiliated Entity is jointly liable with Indemnitee (or would be if joined in such Proceeding), as determined: 

(a) if no Change of Control has occurred, by (1) majority vote of the directors of the Company who are not parties to the
Proceeding, even though less than a quorum, or (2) by a committee of such directors designated by a majority vote of such directors, even though less than a quorum, or (3) if there are no such directors, or if such directors so direct, by
independent legal counsel in a written opinion, or (4) by stockholders of the Company, or 
 (b) if a Change of Control
has occurred, by independent legal counsel in a written opinion to the Company and Indemnitee (such independent legal counsel to be selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld or delayed)),

 the Company shall contribute to the amount of loss, liability or Expenses incurred by Indemnitee in such proportion as appropriate to reflect
(i) the relative benefits received by the Company and any Affiliated Entity on the one hand and Indemnitee on the other hand from the transaction from which such Proceeding arose and (ii) the relative fault of the Company, any Affiliated
Entity or Unaffiliated Entity, including other persons indemnified by the Company on the one hand, and Indemnitee on the other hand in connection with the events which resulted in such Proceeding, as well as any other relevant equitable
considerations. The relative fault of the Company, any Affiliated Entity or Unaffiliated Entity, including other persons indemnified by the Company, on the one hand, and of Indemnitee on the other hand shall be determined by reference to, among
other things, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such Proceeding. The Company acknowledges that it would not be just and equitable if contribution
pursuant to this Section 6 were determined by pro rata allocation or any other method of allocation which does not take into account the foregoing equitable considerations. 

Section 7. Defense of Claim. If any Proceeding asserted or commenced against Indemnitee is also asserted or commenced against the
Company or an Affiliated Entity, the Company or the Affiliated Entity shall be entitled, except as otherwise provided herein below, to assume the defense thereof. After notice from the Company or any Affiliated Entity to Indemnitee of its election
to assume the defense of any such Proceeding, Indemnitee shall have the right to employ Indemnitee’s own counsel in such Proceeding, but the Expenses of such counsel incurred after notice from the Company or any Affiliated Entity to Indemnitee
of its assumption of the defense thereof shall be at the expense of Indemnitee and the Company shall not be obligated to Indemnitee under this Agreement for any Expenses subsequently incurred by Indemnitee in connection therewith other than
reasonable costs of investigation and reasonable travel and lodging expenses arising out of Indemnitee’s participation in the defense of such Proceeding, unless (i) otherwise notified by the Company, (ii) Indemnitee’s counsel
shall have 

  
 - 5 - 

 
reasonably concluded and so notified the Company that there is a conflict of interest between the Company or any Affiliated Entity and Indemnitee in the conduct of defense of such Proceeding, or
(iii) the Company or any Affiliated Entity shall not in fact have employed counsel to assume the defense of such Proceeding, in any of which cases the Expenses of Indemnitee in such Proceeding shall be reimbursed or paid by the Company. The
Company or any Affiliated Entity shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company by its stockholders or as to which Indemnitee’s counsel shall have made the conclusion set forth in clause
(ii) of the preceding sentence of this Section 7. 
 Section 8. Settlement. The Company will not, without the prior
written consent of the Indemnitee, which may be provided or withheld in Indemnitee’s sole discretion, effect any settlement of any Proceeding against Indemnitee unless such settlement solely involves the payment of money by persons other than
Indemnitee and includes an unconditional release of Indemnitee from all liability arising from or relating to any matters that are the subject of such Proceeding. The Company shall not be obligated to indemnify Indemnitee against amounts paid in
settlement of a Proceeding against Indemnitee if such settlement is effected by Indemnitee without the Company’s prior written consent, which shall not be unreasonably withheld. 

Section 9. Duration of Agreement. This Agreement will be considered to be in effect on the first day of the Indemnitee’s
Position or Positions, even if such date occurs prior to the date of this Agreement, and will continue for so long as Indemnitee may be subject to any possible Proceeding by reason of the fact of Indemnitee’s Position or Positions, whether or
not Indemnitee ceases to hold such Position or Positions. 
 Section 10. Confidentiality. Except as required by law or as
otherwise becomes public (other than in violation of this Agreement) or as communicated to Indemnitee’s counsel or to Indemnitee’s or the Company’s insurer, in seeking indemnification or reimbursement or payment of Expenses hereunder,
Indemnitee agrees to keep confidential any information that arises in connection with this Agreement, including but not limited to, claims for indemnification or payment or reimbursement of Expenses, amounts paid or payable under this Agreement and
any communications between the Indemnitee and the Company. 
 Section 11. Applicability to Other Indemnification Provisions.
This Agreement is entered into pursuant to Section 145(f) of the DGCL and to the fullest extent permitted by law shall be in addition to indemnification and reimbursement or payment of Expenses provided by the DGCL. To the fullest extent
permitted by law, the Company shall apply this Agreement in considering requests for indemnification or reimbursement or payment of Expenses under its certificate of incorporation, by-laws, or any other
agreement or undertaking of the Company or similar constituent documents of an Affiliated Entity that provides rights to indemnification or reimbursement or payment of Expenses. 

Section 12. No Duplication of Payments. The Company shall indemnify and pay or reimburse Expenses of the Indemnitee in accordance
with the provisions of this Agreement, provided, however, that the Company shall not be liable under this Agreement to make any payment to the extent that Indemnitee (i) is otherwise entitled to receive reimbursement or payment of
amounts otherwise payable hereunder from an Unaffiliated Entity (including insurance maintained by an Unaffiliated Entity) as a result of Indemnitee’s Position or Positions 

  
 - 6 - 

 
at or with respect to an Unaffiliated Entity, (ii) receives payment or reimbursement under an insurance policy maintained by the Company or by or out of a fund created by the Company and
under the control of a trustee or otherwise, or (iii) receives payment from other sources provided by the Company. If Indemnitee has a right of recovery from an Unaffiliated Entity (including Insurance maintained by the Unaffiliated Entity),
Indemnitee shall take all actions reasonably necessary to recover payment (or insurance) from the Unaffiliated Entity before seeking payment from the Company under this Agreement, including initiating a civil, criminal, administrative or
investigation action, suit, proceeding or procedure; provided, however, that to the extent recovery of such payment requires meeting a prior deductible or other financial outlay, such payment or financial outlay shall be deemed to be an Expense
hereunder. 
 Section 13. Insurance. To the extent the Company maintains an insurance policy or policies providing directors and
officers liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with and subject to its or their terms, to the maximum extent of the coverage available for any member of the Board. 

Section 14. Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee under any insurance policy held by the Company or an Affiliated Entity or otherwise. Indemnitee shall execute all documents reasonably required and shall do everything reasonably necessary to
secure such rights, including the execution of such documents necessary to enable the Company to effectively bring suit to enforce such rights. 

Section 15. Notice by Indemnitee. Indemnitee shall promptly notify the Company in writing in accordance with Section 21 of
this Agreement upon the earlier of (a) becoming aware of a Proceeding where indemnity or reimbursement or payment of Expenses may be sought or (b) receiving or being served with any summons, citation, subpoena, complaint, indictment,
information, inquiry or other document relating to any Proceeding which may be subject to indemnification or reimbursement or payment of Expenses covered hereunder. As a condition to indemnification or reimbursement or payment of Expenses, any
demand for payment by Indemnitee hereunder shall be in writing. 
 Section 16. Severability. If any provision of this Agreement
shall be held to be invalid, inoperative or unenforceable as applied to any particular Proceeding or in any particular jurisdiction, for any reason, such circumstances shall not have the effect of rendering the provision in question invalid,
inoperative or unenforceable in any other distinguishable Proceeding or jurisdiction, or of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to any extent whatsoever. The invalidity, inoperability or
unenforceability of any one or more phrases, sentences, clauses or sections contained in this Agreement shall not affect any other remaining part of this Agreement. 

Section 17. Binding Effect. This Agreement shall be binding upon, and inure to the benefit of, Indemnitee and Indemnitee’s
heirs, personal representatives, executors and administrators and upon the Company and its successors and assigns. 

  
 - 7 - 

 Section 18. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 

Section 19. Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed
to constitute part of this Agreement or to affect the construction thereof. 
 Section 20. Modification and Waiver. No
supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 Section 21. Notices. All
notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand, on the date delivered, (ii) mailed by certified or registered mail, with postage
prepaid, on the third business day after the date on which it is mailed or (iii) sent by guaranteed overnight courier service, with postage prepaid, on the business day after the date on which it is sent: 

(a) If to Indemnitee, to the address set forth on the signature page of this Agreement; 

(b) If to the Company, to: 

MSG Entertainment Spinco, Inc. (to be renamed Madison Square Garden Entertainment Corp.) 

Two Penn Plaza 
 New York, NY
10121 
 Attention: General Counsel 
 or to
such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be. 

Section 22. Governing Law. The parties agree that this Agreement shall be governed by, and construed and enforced in accordance
with, the laws of the State of Delaware. 
 Section 23. Venue. Any Proceeding relating to or arising from this Agreement,
including without limitation, any Proceeding regarding indemnification or reimbursement or payment of Expenses arising out of this Agreement, shall only be brought and heard in the Chancery Court in and for the State of Delaware, and may not be
brought in any other judicial forum. 

  
 - 8 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year
first above written. 
  

					
	MSG ENTERTAINMENT SPINCO, INC.
	(to be renamed Madison Square Garden Entertainment Corp.)

 
					
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	AGREED TO AND ACCEPTED BY:
	
	  

	Name:        [Insert Name of Indemnitee]
	Address:    [Insert Address of Indemnitee]

  
 - 9 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]