Document:

Exhibit
10.1

 

SERVICES
AGREEMENT

 

This
Services Agreement (the “Agreement”), effective as of January 1, 2020 (the “Effective Date”)
confirms the terms on which Motorsport Network, LLC, a Florida limited liability company, having its principal office at 5972
NE 4th Avenue, Miami, Florida 33137 (“MSN”) will provide certain services to Motorsport Gaming US
LLC, a Florida limited liability company, having its principal office at 5972 NE 4th Avenue, Miami, Florida 33137 (“MSG”).

 

Whereas,
MSN has the various resources and capabilities to provide the support services as set forth herein (the “Services”);

 

Whereas,
MSG desires to obtain such services to support its business functions;

 

Whereas,
MSN has agreed to provide such services as a benefit to MSG.

 

NOW,
THEREFORE, in consideration of the obligations set forth herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

	1.	Description
    of Services.
	1.1	Beginning
    as of the Effective Date, MSN will provide to MSG the following services on an exclusive, full-time basis:

 

	 	i.	Legal
    services;
	 	ii.	Development
    services
	 	iii.	Accounting
    services;

 

	2.	MSN’s
    Obligations.

 

	2.1	MSN
    shall:

 

	 	i.	Apply
    all necessary skill and expertise to the performance of the Services;
	 	ii.	Provide
    the Services in a timely and efficient manner;
	 	iii.	Comply
    with all reasonable advice, standards and instructions given by MSG;

 

	3.	MSG’s
    Obligations.
	 	 
	 	MSG
    shall provide MSN with all necessary information, support and cooperation which MSN may reasonably require in order to carry
    out its obligations in a timely and efficient manner.

 

	4.	Term
    and Termination.
	 	 
	 	The
    Term of this Agreement is three (3) years from the Effective Date. Any extension of the Term will be subject to mutual written
    agreement between the parties. Either party may terminate this Agreement immediately by giving written notice to the other
    party. Notice by email shall be sufficient.

 

	5.	Fees.
	 	 
	5.1	MSG
    shall pay MSN monthly fees as follows:

 

	 	i.	Legal
    Services - $5,000.00 monthly, paid on a monthly basis, starting on the Effective Date of this Agreement;
	 	ii.	Development
    Services – on a per use basis, subject to the rates set forth in Exhibit A.
	 	iii.	Accounting
    Services - $2,500.00 monthly, paid on a monthly basis, starting on the Effective Date of this Agreement;

 

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	6.	Confidentiality.
	 	 
	6.1	MSN
    acknowledges that its officers, directors, representatives, employees, and/or agents may have access to information that is
    treated as confidential and proprietary by MSG and its affiliates, in each case whether spoken, written, printed, electronic,
    or in any other form or medium (collectively, the “Confidential Information”). Any Confidential Information that
    MSN develops in connection with the Services, shall be subject to the terms and conditions of this clause. MSN agrees to treat
    all Confidential Information as strictly confidential, not to disclose Confidential Information or permit it to be disclosed,
    in whole or part, to any third party without the prior written consent of MSG in each instance, and not to use any Confidential
    Information for any purpose except as required in the performance of the Services. MSN shall notify MSG immediately in the
    event he becomes aware of any loss or disclosure of any Confidential Information.

 

	6.2	Confidential
    Information shall not include information that:

 

	 	i.	is
    or becomes generally available to the public other than through MSG’s breach of this Agreement; or
	 	 	 
	 	ii.	is
    communicated to MSN by a third party that had no confidentiality obligations with respect to such information.

 

	7.	Intellectual
    Property Rights.
	 	 
	7.1	MSG
    is and shall be, the sole and exclusive owner of all right, title, and interest throughout the world in and to all the results
    and proceeds of the Services performed under this Agreement, including but not limited to videos, articles and/or photos (collectively,
    the “Deliverables”), including all copyrights, trademarks, trade secrets, and other intellectual property rights
    (collectively “Intellectual Property Rights”) therein. MSN agrees that all deliverables generated in connection
    with the Services are hereby deemed a “work made for hire” as defined in 17 U.S.C. § 101 for MSG. If, for
    any reason, any of the deliverables do not constitute a “work made for hire,” MSN hereby irrevocably assigns to
    MSG in each case without additional consideration, all right, title, and interest throughout the world in and to the deliverables,
    including all Intellectual Property Rights therein.
	 	 
	8.	Assignment.
	 	 
	 	MSN
    shall not assign any rights, or delegate or subcontract any obligations, under this Agreement without MSG’s prior written
    consent. Any assignment in violation of the foregoing shall be deemed null and void. MSG may freely assign its rights and
    obligations under this Agreement at any time.
	 	 
	9.	Relationship
    of the Parties.
	 	 
	 	MSN
    shall supply its services hereunder to MSG as an independent contractor and nothing in this Agreement shall create or be construed
    as implying a relationship of master and servant, employer and employee, or render MSN an agent or partner of MSG and MSN
    shall not hold themselves out as such and shall not have any right or power and shall not do or attempt to do any act to bind
    MSG in any way.

 

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	10.	Miscellaneous.
	 	 
	10.1	This
    Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained
    herein, and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, both written
    and oral, with respect to such subject matter.
	 	 
	10.2	This
    Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each party hereto, and any of
    the terms thereof may be waived, only by a written document signed by each party to this Agreement or, in the case of waiver,
    by the party or parties waiving compliance.
	 	 
	10.3	This
    Agreement shall be governed by and construed in accordance with the internal laws of the State of Florida without giving effect
    to any choice or conflict of law provision or rule. Each party irrevocably submits to the exclusive jurisdiction and venue
    of the federal and state courts located in the Miami-Dade County, Florida in any legal suit, action or proceeding arising
    out of or based upon this Agreement or the Services provided hereunder.
	 	 
	10.4	If
    any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality,
    or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such
    term or provision in any other jurisdiction.
	 	 
	10.5	This
    Agreement may be executed in multiple counterparts and by facsimile signature, each of which shall be deemed an original and
    all of which together shall constitute one instrument.

 

[Signatures
on Following Page]

 

	AGREED
    BY:	 
	 	 	 
	MOTORSPORT
    NETWORK LLC	 
	 	 	 
	By:	 /s/
    Mike Zoi 	 
	Name:	 Mike
    Zoi 	 
	Title:	Manager	 
	 	 	 
	MOTORSPORT
    GAMING US LLC	 
	 	 	 
	By:	/s/
    Dmitry Kozko	 
	Name:	Dmitry
    Kozko	 
	Title:	CEO	 

 

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Exhibit
A

Development
Services Rate Card

 

Frontend
- $15/hr

Backend
- $20/hr

Mobile
(both platforms together) - $30/hr

 

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10.2

 

EXCLUSIVE
PROMOTION AGREEMENT

 

This
Confidentiality and Non-Disclosure Agreement (the “Agreement”) is entered into and is effective as of August
3, 2018 (the “Effective Date”) by and between Motorsport Gaming US LLC a Florida limited liability company
(“MSG”), on the one hand, and Motorsport Network, LLC a Florida limited liability company (“MSN”).

 

WHEREAS,
MSG is in the business of developing and publishing video games in the racing genre, as well as facilitating virtual racing esports
activities; and

 

WHEREAS,
MSN is in the business of creating and distributing motorsport related media and entertainment content; and

 

WHEREAS,
the parties desire to work together to provide mutually beneficial benefits to one another.

 

NOW,
THEREFORE, in consideration of the mutual promises set forth herein and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

	 	1.	PROMOTION
    BY MSN. To the extent that it uses its and its affiliates’ various media platforms to promote business, organizations,
    products and services in the racing video game genre and related esports activities, MSN shall exclusively promote the
    businesses, organizations, products and services of MSG and its subsidiaries during the term of this Agreement (the
    “Exclusive Promotion”).
	 	 	 
	 	2.	CONSIDERATION.
    In exchange for the Exclusive Promotion set forth in Section 1, MSG agrees to give MSN an exclusive first look on any
    media-related activity.
	 	 	 
	 	3.	TERM.
    This Agreement shall remain in effect from the Effective date until such date that MSN no longer holds at least a twenty
    percent (20%) of the current outstanding interest in MSG, at which time this Agreement will terminate automatically.
	 	 	 
	 	4.	CONFIDENTIALITY.
    Neither of the Parties to this Agreement shall disclose to the public or to any third party the existence of this Agreement
    other than with the express prior written consent of the other party, except as may be required by law. Except as may be required
    by law or court order, all information exchanged by the parties in the process of working with each other under this Agreement
    not otherwise already public, will be held in confidence.
	 	 	 
	 	5.	GOVERNING
    LAW AND OTHER PROVISIONS.

 

	 	a.	No
    Partnership or Agency. to, establish any partnership or joint venture between the parties, constitute either party the agent
    of the other party, or authorize either party to make or enter into any commitments for or on behalf of the other party. Each
    party confirms it is acting on its own behalf and not for the benefit of any other person.
	 	b.	No
    failure or delay by a party to exercise any right or remedy provided under this agreement or by law shall constitute a waiver
    of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or
    remedy.
	 	 	No
    single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right
    or remedy.
	 	c.	No
    one other than a party to this agreement, their successors and permitted assignees, shall have any right to enforce any of
    its terms.
	 	d.	No
    variation of this agreement shall be effective unless it is in writing and signed by the parties (or their authorized representatives).
	 	e.	This
    Agreement shall at all times be governed by, construed, interpreted and enforced in accordance with the laws of the state
    of Florida, without giving effect to the rules or principles relating to the conflict of laws of Florida or of any other jurisdiction.

 

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

 

	MOTORSPORT
    NETWORK LLC	 	 MOTORSPORT
    GAMING US LLC 
	 	 	 	 	 
	Signature:
    	 /s/
    Mike Zoi 	 	Signature:
    	 /s/
    Mike Zoi 
	Name:

        
	Mike
    Zoi	 	Name:
    	Mike
    Zoi
	Title:
    	Manager	 	Title:
    	Manager

 

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