Document:

EX-10.1

 Exhibit 10.1 
  

					
	

	  		  	 Verso Corporation
 6775 Lenox Center
Court
 Suite 400
 Memphis, TN 38115-4436

 
 T 901 369 4100

F 901 369 4228
  

www.versoco.com

 August 10, 2016 

Mr. David J. Paterson 
 2350 Mt. Paren Road, NW 

Atlanta, GA 30327 
 Re: Retirement 

Dear Dave: 
 This letter agreement, including the
Waiver and the other exhibits hereto (collectively, this “Agreement”) set forth the understanding and agreement between Verso Corporation, a Delaware corporation (together with any of its parents, subsidiaries and affiliates as may
have employed you from time to time, and any and all successors thereto, the “Company”), and you regarding your retirement from the Company. All capitalized terms used but not defined herein have the meanings given to them
elsewhere in this Agreement. 
 1. Retirement; Retirement Date. You are retiring from the Company, and the last day of your
active employment with the Company is August 31, 2016 (the “Retirement Date”). In connection therewith, you will resign from all your positions with the Company and its subsidiaries, including, without limitation, as the
Chairman of the Board, President and Chief Executive Officer and an employee of the Company and as a director and officer of the Company’s subsidiaries, in each case effective as of the Retirement Date. 

2. Waiver and Release of Claims Agreement. You agree to sign and be bound by the Waiver and Release of Claims Agreement set forth
in Exhibit A (the “Waiver”), which is considered an integral part of this Agreement. By signing this Agreement and the Waiver, you are waiving certain legal rights, and you are hereby advised to consult with an attorney
and to have the attorney review these documents with you before you sign them. 
 3. Retirement Benefits. If you sign the Waiver
and do not revoke it within the time periods described therein, and subject to your compliance with all of your obligations under this Agreement, the Waiver, the Employment Agreement dated April 20, 2012, between the Company (then named Verso Paper
Corp.) and you (the “Employment Agreement”), and any other contract between the Company and you, the Company will provide to you the retirement payments and benefits described in Exhibit B (the “Retirement
Benefits”). If you sign the Waiver but then revoke it in a timely manner, all provisions of this Agreement will be null and void, including, without limitation, your right to receive the Retirement Benefits, but excluding your right to
receive the other payments and benefits described in Exhibit C, in connection with the termination of your employment with the Company. 

4. Other Payments and Benefits. Certain payments and benefits that the Company will provide to you, regardless of whether you sign
this Agreement and the Waiver, in connection with your resignation from the Company are described in Exhibit C. 

 5. Severance Policy and Employment Agreement. You acknowledge and agree that upon
your retirement from the Company (a) the Company will have no obligation to provide you with any payment or benefit under the Company’s severance policy or Section 5(b) (termination without cause or resignation for good
reason) of the Employment Agreement; (b) you will comply fully with all your continuing obligations under the Employment Agreement (including, without limitation, those under Section 6 (non-competition and
non-solicitation) and Section 7 (non-disclosure of proprietary information)) in accordance with the provisions thereof; and (c) the provisions in Sections 6-16 and 18-24 of the Employment Agreement will
survive your retirement from the Company. 
 6. Taxes. You will be ultimately and solely responsible for the timely payment in
full of all federal, state, local and foreign taxes, and all interest and penalties thereon, imposed with respect to the Retirement Benefits and all other payments and benefits that you receive in connection with your retirement from the
Company. The Company will withhold any and all federal, state, local and foreign taxes and charges that the Company is required to withhold from the Retirement Benefits and other payments and benefits that you receive in connection with your
retirement from the Company. You agree not to make any claim against the Company or any other Releasee based on how the Company reports to taxing authorities, or if an adverse determination is made as to the tax treatment of, the Retirement
Benefits or other payments and benefits that you receive in connection with your retirement from the Company. 
 7. Confidentiality.
You agree not to disclose the existence or provisions of this Agreement to any person or entity unless the Company consents to such disclosure in advance and in writing; however, you may, without the Company’s consent, disclose that you
resigned from the Company, make such disclosures as are required by law (including disclosures to governmental and taxing authorities and courts), and disclose the existence and provisions of this Agreement to your spouse and immediate family
members and to your attorneys, accountants, tax advisors, and other professional service providers as reasonably necessary, provided that you instruct each such person that the existence and provisions of this Agreement are strictly confidential and
are not to be revealed to anyone else except as required by applicable law. 
 8. Acknowledgements. You acknowledge and agree
that (a) the Company has treated you lawfully and fairly in connection with your employment with the Company, your retirement from the Company, and otherwise; (b) the Company has not incurred any liability to you or anyone else arising from or
relating to your employment with the Company, your retirement from the Company, or otherwise; (c) you have carefully read this Agreement and the Waiver in their entirety, fully understand and agree to their terms, conditions and provisions, and have
signed this Agreement and the Waiver knowingly, voluntarily and free from any fraud, duress, coercion or mistake of fact; and (d) this Agreement and the Waiver are final and will become legally binding on and enforceable against you and the Company
beginning on the Effective Date. 
 9. No Admissions. The Company does not admit, in this Agreement or otherwise, that (a) the
Company has treated you unlawfully or unfairly in connection with your employment with the Company, your retirement from the Company, or otherwise, and (b) the Company has incurred any liability to you or anyone else arising from or relating to
your employment with the Company, your retirement from the Company, or otherwise. 
 10. Further Assurances. You agree to
execute and deliver any and all other documents and instruments and to take any and all other actions that the Company may reasonably request from time to time to effectuate the intent and purposes of this Agreement. 

  
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 11. Successors. This Agreement is personal to you and may not be assigned by
you. This Agreement will inure to the benefit of and be binding upon the Company and its respective successors and assignees, and any such successor or assignee will be deemed substituted for the Company under this Agreement for all
purposes. As used herein, the terms “successor” and “assignee” include any person or entity that at any time, whether by purchase, merger or otherwise, directly or indirectly acquires ownership of the Company or to which the
Company assigns this Agreement by operation of law or otherwise. 
 12. Modification. This Agreement may not be modified,
amended, supplemented or changed, in whole or in part, except by a formal, definitive written agreement that expressly refers to this Agreement and is executed and delivered by all the parties hereto. 

13. Waivers. Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this
Agreement will operate as a waiver thereof, nor will any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor will any waiver of any
right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver under this Agreement will be binding unless it is in writing and
is signed by the party asserted to have granted such waiver. 
 14. Severability. If any portion of this Agreement or the
application thereof becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application of such portion to other persons or
circumstances will be interpreted so as reasonably to effect the intent of the parties hereto. 
 15. Cooperation in
Drafting. Each party hereto has cooperated in the negotiation, drafting, preparation and review of this Agreement. In the event of any interpretation or construction of any provision of this Agreement, such provision will not be
construed against either party on the basis that such party was the drafter of such language. 
 16. Choice of Law and
Jurisdiction. This Agreement will be governed by, construed under, and enforced in accordance with the internal laws of the State of Tennessee, without regard to the conflicts-of-law provisions or principles thereof. This Agreement and its
subject matter have substantial contacts with the State of Tennessee, and any lawsuit or other legal proceeding with respect to this Agreement must be brought in a court of competent jurisdiction in Shelby County, Tennessee, or in the United States
District Court for the Western District of Tennessee (Western Division) in Memphis, Tennessee. In any such lawsuit or other legal proceeding, any such court will have personal jurisdiction over all the parties hereto, and service of process
upon them under any applicable law, statute or rule will be deemed valid and good. 
 17. Fees and Expenses. If any party to
this Agreement commences a lawsuit or any other legal proceeding against any other party hereto arising from or relating to this Agreement (including, without limitation, to enforce any covenant contained in this Agreement or to obtain any relief or
remedy for any breach of this Agreement), the party substantially prevailing in such lawsuit or other legal proceeding will be entitled to receive, in addition to all other relief and remedies to which it may be entitled, an award of all the costs
incurred by such party in preparing for and conducting the lawsuit or other legal proceeding, including, without limitation, its reasonable attorneys’ fees and expenses and court costs. 

  
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 18. Complete Agreement. This Agreement constitutes and contains the entire agreement
and final understanding concerning your relationship with the Company and the other subject matters addressed herein and supersedes and replaces all prior negotiations, understandings, agreements and arrangements, whether written or oral, and
whether proposed or definitive, concerning the subject matters hereof. Any representation, promise or agreement not specifically included in this Agreement will not be binding upon or enforceable against either party. You are not relying
on any representation of the Company or any Releasee except as expressly set forth in this Agreement. 
 19. Counterparts. This
Agreement may be executed in one or more counterparts, each of which will be deemed to be an original of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. The exchange of copies of
this Agreement and the signature pages hereof by facsimile or email transmission will constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. The
electronic signatures of the parties will be deemed to be their original signatures for all purposes. 
 To indicate your agreement to and
acceptance of the terms, conditions and provisions of this Agreement and the Waiver, please sign both copies of this Agreement and the Waiver and return one copy of each document to me. The other copy of each document is for your files. 

 

	
	Very truly yours,
	
	Verso Corporation
	

	Kenneth D. Sawyer
	Senior Vice President of
	Human Resources and Communications

  

	
	 Agreed to and Accepted:

	
	 

	 David J. Paterson

	
	 Date: 8/15/16

  
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 EXHIBIT A 

VERSO CORPORATION 
 6775
Lenox Center Court, Suite 400 
 Memphis, Tennessee 38115-4436 

WAIVER AND RELEASE OF CLAIMS AGREEMENT 

In exchange for the Retirement Benefits, I freely and voluntarily agree to enter into and be bound by this Waiver and Release of Claims
Agreement (this “Waiver”). All capitalized terms used but not defined herein have the meanings given to them elsewhere in the Agreement. 

1. Retirement; Retirement Date. I acknowledge and agree that I am retiring from the Company, and that the Retirement Date is the
last day of my active employment with the Company. 
 2. Delivery of Waiver. I acknowledge that the Company delivered the
Agreement and this Waiver to me on August 10, 2016. 
 3. Effect on Retirement Benefits. I acknowledge and agree that unless I
sign and do not revoke this Waiver within the time periods described herein, and unless I comply with all the covenants and perform all the obligations imposed on me in the Agreement, this Waiver, the Employment Agreement, and any other contract
between the Company and me, I will not be entitled to receive any of the Retirement Benefits. 
 4. Waiver and Release. Subject
in all respects to the “Retained Rights” as set forth in Section 17 of this Waiver, which shall remain with me and are not waived, released, discharged or affected in any way by this Waiver, I, and anyone claiming through me (including,
without limitation, my agents, representatives, assigns, heirs, beneficiaries, executors and administrators), hereby irrevocably, unconditionally and forever waive, release and discharge the Company, its direct and indirect parents, subsidiaries and
other affiliates (including, without limitation, Verso Paper LLC and Verso Paper Holdings LLC), its and their respective predecessors, successors and assigns, and its and their respective former, current and future stockholders, members, partners,
directors, officers, managers, employees, agents, representatives, attorneys and insurers (collectively, the “Releasees”) from any and all claims, causes of action, charges, complaints, demands and rights of any nature whatsoever,
whether known or unknown, and whether fixed or contingent, arising from, based on, or relating to my employment with the Company, my retirement from the Company, my status at any time as a holder of any securities of any Releasee, any act or
omission of any Releasee occurring prior to or on the Retirement Date, and any dealing, transaction or event involving any Releasee occurring prior to or on the Retirement Date, including, without limitation, any and all such claims, causes of
action, charges, complaints, demands and rights under the Civil Rights Act of 1866, the Civil Rights Act of 1871, the Fair Labor Standards Act of 1938, the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the
Rehabilitation Act of 1973, the Employee Retirement Income Security Act of 1974, the Worker Adjustment and Retraining Notification Act of 1988, the Older Workers Benefit Protection Act of 1990, the Americans with Disabilities Act of 1990, the Family
and Medical Leave Act of 1993, the Securities Act of 1933, the Securities Exchange Act of 1934, the Sarbanes-Oxley Act of 2002, all laws of the State of Tennessee relating to any subject matter covered by the foregoing laws of the United States of
America (including, without limitation, the Tennessee Human Rights Act, the Tennessee Equal Pay Law, and the Tennessee Handicap Discrimination Law), and any other federal, state or local 

 
law, rule, regulation or common law, in each case as the same may be amended from time to time. This Waiver includes, without limitation, all wrongful termination and “constructive
discharge” claims, all discrimination claims, all claims for compensation for the time worked and the services performed for the Company, all claims (except the Retained Rights) relating to the Employment Agreement or any other contract of
employment (whether express or implied) with the Company, all claims for the breach of any covenant of good faith or fair dealing (whether express or implied), and any tort of any nature. This Waiver is for any relief or remedy, regardless of
how it is denominated, including, without limitation, wages, back pay, front pay, reinstatement, benefits, compensatory damages, punitive or exemplary damages, and attorneys’ fees and expenses. Notwithstanding any provision of this Waiver
to the contrary, this Waiver does not apply to any claim or right that may not be waived under applicable law, any claim for my vested interest in any employee benefit plan, program or arrangement maintained by the Company, any claim for
unemployment insurance or workers’ compensation, any claim arising from or relating to the Agreement or this Waiver, or any claim that may arise after the Effective Date. 

5. No Unreported Work; Proper Payment. I represent that I have reported all hours that I have worked for the Company, and that the
Company has properly paid me for all of my hours worked. 
 6. No Unreported Work-Related Injury or Illness. I represent that I
have no unreported work-related injury or illness, and I have no basis to report any such injury or illness. 
 7. No Claim, Charge,
Etc. I represent that I have not made or filed any claim, charge, complaint, demand or lawsuit against any Releasee to such Releasee or with the United States Equal Employment Opportunity Commission, the Tennessee Human Rights Commission,
or any other federal, state or local governmental authority or court. Except as expressly contemplated in the last sentence of Section 4 of this Waiver or as to the Retained Rights, and only if and to the extent permitted by applicable law,
I agree that (a) I will not make or file any claim, charge, complaint, demand or lawsuit against any Releasee, and (b) if any federal, state or local governmental authority or court assumes jurisdiction of any claim, charge, complaint, demand
or lawsuit against any Releasee on my behalf, I will request that such governmental authority or court withdraw from the matter and I will refuse any and all benefits derived therefrom. I hereby irrevocably waive any right that I may have
to bring any representative action or to serve in any representative capacity in any class or collective action against any Releasee, such that any action by me or taken on my behalf may proceed, if at all, only as an individual action. 

8. No Unlawful Act or Omission; Investigations. I represent that (a) I have no knowledge of any unlawful act or omission by the
Company in connection with my employment with the Company, my retirement from the Company, or otherwise (including, without limitation, any false claim made by the Company or any other Releasee to the government or any governmental authority of the
United States of America), and I know of no basis on which any such claim could be asserted; (b) I have no knowledge of any unlawful act or omission by any director, officer, employee, agent, representative, attorney, contractor, supplier or
customer of the Company or any or other person or entity having or desiring to have a business relationship with the Company, and I know of no basis on which any such claim could be asserted; and (c) I have not knowingly engaged in any unlawful act
or omission in the course of my employment with the Company, and I know of no basis on which any such claim could be asserted. I will cooperate fully in any investigation conducted by or on behalf of the Company into any matter that
occurred at any time during my employment with the Company. I understand that this Waiver does not prevent me 

  
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from cooperating in any investigation conducted by or on behalf of any federal, state, local or foreign governmental authority. To the fullest extent permitted by applicable law, I hereby
irrevocably assign to the government of the United States of America any right that I might have to any proceeds or award in connection with any false claim proceeding against the Company or any other Releasee. 

9. Return of Company Property. I represent and agree that I have delivered to the designated authorized representative of the
Company all property of the Company in my possession or under my control as of the Retirement Date, including, without limitation, all employee identification cards, credit cards, telephone cards, computers and computer equipment, personal digital
assistants and handheld electronic information devices (such as an iPhone, Android or Blackberry), and other equipment and property. 
 10.
Confidential Information. I represent and agree that (a) I have delivered to the Company any Confidential Information in my possession or under my control as of the Retirement Date; (b) I will not retain any Confidential Information
after the Retirement Date; and (c) I will not use or disclose any Confidential Information after the Retirement Date except as directed by the Company. As used herein, the term “Confidential Information” means any item of
information or compilation of information, in any form, tangible or intangible, pertaining to the Company’s business that is not authorized by the Company for disclosure to the public or is not readily available to the public through proper
means. Confidential Information includes, without limitation, (a) the Company’s business strategies, plans and analyses; purchasing strategies, plans, practices, methods, techniques and information; actual and prospective supplier lists;
supplier information and analyses; manufacturing strategies, plans, practices, methods, techniques and information; sales and marketing strategies, plans, practices, methods, techniques and information; actual and prospective customer lists;
customer information and analyses; information technology strategies, plans, practices, methods, techniques and information; computer programs and source codes; human resources information and personnel files; accounting and financial information;
legal information; research and development information; Inventions; know-how and trade secrets; and (b) information entrusted to the Company in confidence by other persons and entities. 

11. Inventions. I acknowledge and agree that the Company owns all rights to and interests in any Invention that I conceived of,
developed or assisted in developing, in whole or in part, while employed with the Company and prior to the Retirement Date that (a) relates to the Company’s current business or anticipated future businesses, (b) involves the use of the
Company’s information, equipment, facilities or supplies, (c) is or was created or conceived of, in whole or part, while working on the Company’s time, or (d) results from my work for the Company. I represent and agree that I have
disclosed to the Company all Inventions that I conceived of, developed or assisted in developing, in whole or in part, while employed with the Company and prior to the Retirement Date. As used herein, the term “Inventions”
means inventions (whether or not patentable), discoveries, innovations, improvements, designs and ideas and related technologies and methodologies (whether or not shown or described in writing or reduced to practice). I understand that my
acknowledgement of the Company’s ownership of such Inventions and the required disclosure thereof do not apply to an Invention that does not meet any of the characteristics identified in the first sentence of this Section 11. 

12. Non-Disparagement. I will not say or write, in any forum or using any medium, anything that is disparaging, negative or
unfavorable about the Company or its business, employees or prospects, except as permitted under applicable law. 

  
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 13. Binding Effect. I acknowledge and agree that this Waiver is binding on me and my
agents, representatives, assigns, heirs, beneficiaries, executors and administrators. 
 14. Choice of Law and
Jurisdiction. This Waiver will be governed by, construed under, and enforced in accordance with the internal laws of the State of Tennessee, without regard to the conflicts-of-law provisions or principles thereof. This Waiver and its
subject matter have substantial contacts with the State of Tennessee, and any lawsuit or other legal proceeding with respect to this Waiver must be brought in a court of competent jurisdiction in Shelby County, Tennessee, or in the United States
District Court for the Western District of Tennessee (Western Division) in Memphis, Tennessee. In any such lawsuit or other legal proceeding, any such court will have personal jurisdiction over all the parties hereto, and service of process
upon them under any applicable law, statute or rule will be deemed valid and good. 
 15. CONSIDERATION AND
CONSULTATION. THE COMPANY HEREBY ADVISES ME THAT BEFORE I SIGN THIS WAIVER, I MAY TAKE 21 DAYS TO CONSIDER WHETHER OR NOT TO SIGN IT. THE COMPANY ALSO HEREBY ADVISES ME TO CONSULT WITH AN ATTORNEY AND
TO HAVE THE ATTORNEY REVIEW THIS WAIVER WITH ME BEFORE I SIGN IT. I HEREBY ACKNOWLEDGE THAT I HAVE HAD AN OPPORTUNITY TO CONSULT WITH AN ATTORNEY AND EITHER HAVE HELD SUCH CONSULTATION OR HAVE DETERMINED NOT TO CONSULT WITH AN
ATTORNEY. 
 16. REVOCATION. THE COMPANY HEREBY ADVISES ME THAT I MAY REVOKE THIS WAIVER BY
DELIVERING WRITTEN NOTICE OF MY REVOCATION TO KENNETH D. SAWYER, SENIOR VICE PRESIDENT OF HUMAN RESOURCES AND COMMUNICATIONS, VERSO CORPORATION, 6775 LENOX CENTER COURT, SUITE 400, MEMPHIS, TENNESSEE 38115-4436, WITHIN THE 7-DAY PERIOD FOLLOWING THE DAY THAT I SIGN THIS WAIVER (THE “REVOCATION PERIOD”). I UNDERSTAND THAT IF I REVOKE THIS WAIVER WITHIN THE REVOCATION
PERIOD, ALL PROVISIONS OF THE AGREEMENT WILL BE NULL AND VOID, INCLUDING, WITHOUT LIMITATION, MY RIGHT TO RECEIVE THE RETIREMENT BENEFITS, BUT EXCLUDING MY RIGHT TO RECEIVE THE OTHER PAYMENTS AND BENEFITS DESCRIBED IN EXHIBIT C,
IN CONNECTION WITH THE TERMINATION OF MY EMPLOYMENT WITH THE COMPANY. I ALSO UNDERSTAND THAT IF I DO NOT REVOKE MY ACCEPTANCE OF THIS WAIVER WITHIN THE REVOCATION PERIOD, THIS WAIVER WILL BE FOREVER LEGALLY BINDING AND ENFORCEABLE
BEGINNING ON THE DAY IMMEDIATELY FOLLOWING THE LAST DAY OF THE REVOCATION PERIOD (THE “EFFECTIVE DATE”). THIS WAIVER IS NOT EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS
EXPIRED. 
 17. Retained Rights. Nothing in this this Waiver shall result in any waiver, release, discharge or effect of any
kind upon (i) my rights to indemnification as an officer and/or director of the Company as set forth in the Company’s Amended and Restated Bylaws or the Indemnification Agreement dated as of July 15, 2016, between the Company and me, to the
maximum extent provided therein, (ii) my entitlement to protection of any insurance policies the Company may elect to maintain generally for the benefit of its directors and officers against all costs, charges and expenses incurred or sustained by
me in connection with any action, suit or proceeding to which I may be made a party by reason of my being or having been a director, officer or employee of the Company (other than any dispute, claim or controversy arising under or relating to the
Agreement or this Waiver), or (iii) any additional rights of indemnity, exculpation, release or the like conferred upon me by the Company’s First Modified Third Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code, dated
June 22, 2016 (the “Plan”), and the order of the United States Bankruptcy Court for the District of Delaware confirming the Plan. 

  
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 I acknowledge and agree that I have carefully read this Waiver in its entirety, fully understand
and agree to all of its terms, conditions and provisions, and have signed this Waiver knowingly, voluntarily and free from any fraud, duress, coercion or mistake of fact. Upon signing this Waiver, I agree to deliver it to Kenneth D. Sawyer, the
Senior Vice President of Human Resources and Communications of the Company. 
  

	
	

	 David J. Paterson

	
	 Date: 8/15/16

  
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 EXHIBIT B 

RETIREMENT BENEFITS 

Notwithstanding any provision to the contrary in the Agreement or elsewhere, if you breach any covenant or fail to perform any obligation
imposed on you in the Agreement, the Waiver, the Employment Agreement, or any other contract between the Company and you, you will not be entitled to receive any of the Retirement Benefits and will promptly return any and all Retirement Benefits
already received to the Company. All capitalized terms used but not defined herein have the meanings given to them elsewhere in the Agreement. 

1. 2016 Verso Incentive Plan. The Company will pay to you $533,333.33 as a prorated portion of your annual incentive award payable
under the 2016 Verso Incentive Plan (the “2016 VIP”). The 2016 VIP payment is based on the assumptions that the Company reaches the target level of achievement of its performance objectives under the 2016 VIP and that you
achieve all of your individual performance objectives under the 2016 VIP, and it is prorated on a daily basis to reflect that you were employed by the Company for 244 (i.e., from January 1 through August 31) of the 366 days in
2016. The 2016 VIP payment will be made within 30 days after the Effective Date. 
 2. Supplemental Salary Retirement Program and
Deferred Compensation Plan. The Company will make contributions on your behalf under the Supplemental Salary Retirement Program (the “SSRP”) to your account under the Retirement Savings Plan (the “RSP”) and
to your account under the Deferred Compensation Plan (the “DCP”). The SSRP and DCP contributions in the aggregate amount of $57,548.33, representing 2.75% of your eligible compensation paid in 2016, will be made in 2017 in
accordance with the provisions of the SSRP and the DCP. Your contribution to the SSRP will be the maximum amount that can be contributed under the SSRP per the RSP and applicable tax rules, with the remainder being contributed to the DCP.

 EXHIBIT C 

OTHER PAYMENTS AND BENEFITS 

The Company will provide you with certain payments and benefits that are affected by your retirement from the Company. Summary
information regarding these payments and benefits and the effects of your retirement on them is provided below. The information, being summary in nature, is qualified in its entirety by reference to the written plans, programs, contracts and other
documents underlying the payments and benefits. If you have any questions about the payments and benefits, please direct your inquiries to Tisch McDaniel by telephone at 901-369-4124 or by email at tisch.mcdaniel@versoco.com. All
capitalized terms used but not defined herein have the meanings given to them elsewhere in the Agreement. 
 1. Payments and Benefits
under Section 5(a) of Employment Agreement. The Company will provide you with the payments and benefits provided for in Section 5(a) of the Employment Agreement in accordance with the provisions thereof.

2. Unused Vacation. The Company will pay to you $46,154.40 in lieu of your 15 unused vacation days allowed in 2016 within 30
days after the Effective Date. 
 3. Retirement Savings Plan (i.e., 401(k) Plan). As of the Retirement
Date, your individual contributions and the Company’s matching contributions on your behalf under the Retirement Savings Plan will be vested. In view of the termination of your employment with the Company, you are encouraged to call
Transamerica Retirement Solutions at toll-free 1-800-422-6103, Option 4, and/or contact your individual financial and tax advisors to discuss the future handling of your Retirement Savings Plan account and the
potential financial and tax impacts on you, including, without limitation, the roll-over of the funds in your Retirement Savings Plan account to your personal individual retirement account (i.e., IRA), the withdrawal of funds from your
Retirement Savings Plan account (which may subject your account to a penalty for early withdrawal), and any outstanding loan that you may have from your Retirement Savings Plan account. 

4. Supplemental Salary Retirement Program. As of the Retirement Date, the Company’s contributions on your behalf under the
Supplemental Salary Retirement Program will be vested. Please refer to Section 3 of this Exhibit C for guidance on contacting Transamerica Retirement Solutions and/or your individual financial and tax advisors regarding the future
handling of your Retirement Savings Plan account. 
 5. Medical and Dental Insurance. You have the right to continue the group
medical and dental insurance coverage provided by the Company for you and your eligible dependents pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), provided that you elect such continued
coverage in accordance with COBRA, beginning on the first day of the month immediately following the month in which the Retirement Date occurred. You will receive from Morneau Shepell a COBRA Packet outlining your COBRA rights and including
election forms for enrollment. If you continue your medical and dental insurance coverage with the same plan design through COBRA that you elected as an active employee of the Company, any deductible or out-of-pocket expenses that you have
accumulated during the plan year will be applied to your COBRA coverage. For additional information or if you have questions about continued medical and dental insurance coverage under COBRA, you may call the Morneau Shepell Customer Service
Call Center at toll-free 1-800-422-6103 (Option 5, Sub-Option 1). 

 6. Flexible Spending Account (FSA). You have the right under COBRA to continue your
participation in the health care FSA plan provided by the Company through the end of the calendar year in which the Retirement Date occurs, even if you decide not to continue your medical and dental insurance coverage under COBRA. There is no
additional COBRA premium required for the continuation of your health care FSA participation. If you do not continue your health care FSA participation through COBRA, then only eligible health care charges incurred on or before the Retirement
Date will be eligible for reimbursement under the health care FSA plan. 
 7. Basic Life Insurance. You have the right to
convert the group basic life insurance coverage on your life provided by the Company to an individual life insurance policy. Such policy will be offered by Life Insurance Company of North America (“LINA”), without proof of good
health, provided that you make the election within 31 days after the Retirement Date. You may convert your group basic life insurance coverage into any individual nonparticipating life insurance policy offered by LINA, except term life
insurance. The premiums for the individual life insurance policy, which will be at least equal to those for LINA’s whole life insurance plan with the lowest premium, will be higher than those for the group basic life insurance coverage
provided by the Company. If you want to convert your group basic life insurance coverage into an individual life insurance policy, you must complete a Life Conversion Information Request Form and submit it, together with a copy of your current
Benefits Summary from the Company’s employee self-service portal, to LINA at the address located on the form within 31 days after the Retirement Date. The Company will provide you separately with materials relating to the conversion of
your group basic life insurance coverage. For additional information or if you have questions about the conversion of your group basic life insurance coverage, you may call LINA at toll-free 1-800-423-1282. 

8. Verso Paper Deferred Compensation Plan. You will receive payment of your benefits under the Verso Paper Deferred Compensation
Plan following your retirement in accordance with the terms of that plan and any election you made thereunder. 

  
 2Exhibit 4.2

 

Form of Selling Agent’s Warrant
Agreement

 

THE REGISTERED HOLDER
OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT
AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR
HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO
ANYONE OTHER THAN (I) AN SELLING AGENT OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER
OF ANY SUCH SELLING AGENT OR SELECTED DEALER.

 

PURCHASE WARRANT IS
NOT EXERCISABLE PRIOR TO [________________] [DATE THAT IS SIX MONTHS FROM THE EFFECTIVE DATE OF THE OFFERING]. VOID AFTER
5:00 P.M., EASTERN TIME, [___________________] [DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE OFFERING].

 

COMMON STOCK PURCHASE WARRANT

For the Purchase of [_____] Shares of Common
Stock

 

ALLIANCE MMA, INC.

 

 1.      Purchase Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of _________ (“Holder”), as registered owner of this Purchase Warrant, to Alliance MMA, Inc., a Delaware corporation (the “Company”), Holder is entitled, at any time or from time to time from [________________] [DATE THAT IS SIX MONTHS FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT] (the “Commencement Date”), and at or before 5:00 p.m., Eastern time, [____________] [DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT] (the ”Expiration Date”), but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to [____] shares (the “Shares”) of common stock of the Company, par value $0.001 per share (“Common Stock”), subject to adjustment as provided in Section 6 hereof. If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable at $[___] per Share [165% of the price of the Shares sold in the Offering]; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial exercise price or the adjusted exercise price, depending on the context. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Selling Agent Agreement, dated as of _________, 2016, by and between the Company and Network 1 Financial Services, Inc. (the “Selling Agent Agreement”)

 

		2.	Exercise.

 

2.1.      Exercise Form. In
order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and delivered to
the Company, together with this Purchase Warrant and (unless such exercise is cashless as provided herein) payment of the Exercise
Price for the Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated by
the Company or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised
at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without further force
or effect, and all rights represented hereby shall cease and expire.

 

     

     

    

 

2.2      Cashless Exercise. In lieu of exercising this Purchase
Warrant by payment of cash by wire transfer or check payable to the order of the Company pursuant to Section 2.1 above, and only
if an effective registration statement is not available for the resale of the Shares issuable upon exercise of this Purchase Warrant,
Holder may elect to exercise this Purchase Warrant on a “cashless” basis and receive the number of Shares equal to
the value of this Purchase Warrant (or the portion thereof being exercised), by surrender of this Purchase Warrant to the Company,
together with the exercise form attached hereto, in which event the issue to Holder, Shares in accordance with the following formula:

 

	X 	=	Y(A-B)	 
	 	 	A	 
	 	 	 	 
	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The fair market value of one Share; and
	 	B	=	The Exercise Price.

 

For purposes of this
Section 2.2, the fair market value of a Share shall be the average VWAP per share of Common Stock (as reported by Bloomberg) for
the ten (10) trading days immediately preceding the date of exercise; provided, however, if there is no active public market,
the value shall be the fair market value thereof, as determined in good faith by the Company’s Board of Directors. “VWAP”
shall mean, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a national securities exchange, the daily volume weighted average price of the Common Stock for such date (or
the nearest preceding date) on the exchange on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a trading day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), or (b) if the Common Stock is not then
listed or quoted for trading on a national securities exchange and if prices for the Common Stock are then reported by OTC Markets,
Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the closing bid price per share of
the Common Stock so reported.

 

2.3      Legend.
Each certificate for the securities purchased under this Purchase Warrant shall bear a legend as follows unless such securities
have been registered under the Securities Act of 1933, as amended (the “Act”):

 

“The securities
represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”),
or applicable state law. Neither the securities nor any interest therein may be offered for sale, sold or otherwise transferred
except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from registration
under the Securities Act and applicable state law which, in the opinion of counsel to the Company, is available.”

 

		3.	Transfer.

 

3.1     General Restrictions.
The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that such Holder will not: (a) sell,
transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty (180) days following the Effective
Date to anyone other than: (i) a Selling Agent or a selected dealer participating in the Offering, or (ii) a bona fide officer
or partner of any such Selling Agent or selected dealer, in each case in accordance with FINRA Conduct Rule 5110(g)(1), or (b)
cause this Purchase Warrant or the securities issuable hereunder to be the subject of any hedging, short sale, derivative, put
or call transaction that would result in the effective economic disposition of this Purchase Warrant or the securities hereunder,
except as provided for in FINRA Rule 5110(g)(2). On and after one hundred eighty (180) days after the Effective Date, transfers
to others may be made subject to compliance with or exemptions from applicable securities laws. In order to make any permitted
assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed and completed, together with
the Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within five
(5) Business Days of receipt of a duly executed assignment form transfer this Purchase Warrant on the books of the Company and
shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly evidencing
the right to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated
by any such assignment.

 

     

     

    

 

3.2     Restrictions
Imposed by the Securities Act. The securities evidenced by this Purchase Warrant and the Shares issuable upon exercise hereof
shall not be transferred unless and until: (i) the Company has received the opinion of counsel for the Holder that the securities
may be transferred pursuant to an exemption from registration under the Securities Act and applicable state securities laws, the
availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that the opinion
of Mazzeo Song P.C. shall be deemed satisfactory evidence of the availability of an exemption), or (ii) a registration statement
or a post-effective amendment to the Registration Statement relating to the offer and sale of such securities has been filed by
the Company and declared effective by the U.S. Securities and Exchange Commission (the ”Commission”) and compliance
with applicable state securities law has been established.

 

		4.	New Purchase Warrants to be Issued.

 

4.1     Partial Exercise
or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised or assigned in whole or
in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation,
together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax
if exercised pursuant to Section 2.1 hereto, the Company shall cause to be delivered to the Holder without charge a new Purchase
Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number
of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.

 

4.2     Lost Certificate.
Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant
and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Warrant
of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction
shall constitute a substitute contractual obligation on the part of the Company.

 

		5.	Adjustments.

 

5.1     Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant shall
be subject to adjustment from time to time as hereinafter set forth:

 

5.1.1     Share Dividends;
Split Ups. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding Shares
is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective day
thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Shares, and
the Exercise Price shall be proportionately decreased.

 

5.1.2     Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding Shares
is decreased by a reverse stock split, consolidation, combination or reclassification of Shares or other similar event, then, on
the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding
Shares, and the Exercise Price shall be proportionately increased.

 

     

     

    

 

5.1.3     Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than
a change covered by Section 5.1.1 or 5.1.2 hereof or that solely affects the par value of such Shares, or in the case of any share
reconstruction or amalgamation or consolidation of the Company with or into another corporation (other than a consolidation or
share reconstruction or amalgamation in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the outstanding Shares), or in the case of any sale or conveyance to another corporation or entity of the
property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder
of this Purchase Warrant shall have the right thereafter (until the expiration of the right of exercise of this Purchase Warrant)
to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the
kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer, by a Holder
of the number of Shares of the Company obtainable upon exercise of this Purchase Warrant immediately prior to such event; and if
any reclassification also results in a change in Shares covered by Section 5.1.1 or 5.1.2, then such adjustment shall be made pursuant
to Sections 5.1.1, 6.1.2 and this Section 5.1.3. The provisions of this Section 5.1.3 shall similarly apply to successive reclassifications,
reorganizations, share reconstructions or amalgamations, or consolidations, sales or other transfers.

 

5.1.4     Changes in Form
of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section 5.1,
and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares as are stated in
the Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase
Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the
Commencement Date or the computation thereof.

 

5.2     Substitute Purchase
Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company with or into,
another corporation (other than a consolidation or share reconstruction or amalgamation which does not result in any reclassification
or change of the outstanding Shares), the corporation formed by such consolidation or share reconstruction or amalgamation shall
execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder of each Purchase Warrant then outstanding
or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Warrant) to receive, upon exercise
of such Purchase Warrant, the kind and amount of shares of stock and other securities and property receivable upon such consolidation
or share reconstruction or amalgamation, by a holder of the number of Shares of the Company for which such Purchase Warrant might
have been exercised immediately prior to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental
Purchase Warrant shall provide for adjustments which shall be identical to the adjustments provided for in this Section 5. The
above provision of this Section shall similarly apply to successive consolidations or share reconstructions or amalgamations.

 

5.3     Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares upon the
exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being
the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may
be, to the nearest whole number of Shares or other securities, properties or rights.

 

6.     Reservation
and Listing. The Company shall at all times reserve and keep available out of its authorized Shares, solely for the purpose
of issuance upon exercise of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be
issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants and (other than
in connection with a cashless exercise hereunder) payment of the Exercise Price therefor, in accordance with the terms hereby,
all Shares and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and
not subject to preemptive rights of any shareholder. As long as the Purchase Warrants shall be outstanding, the Company shall use
its commercially reasonable efforts to cause all Shares issuable upon exercise of the Purchase Warrants to be listed (subject to
official notice of issuance) on all national securities exchanges (or, if applicable, on the OTC Bulletin Board or any successor
trading market) on which the Shares issued to the public in the Offering may then be listed and/or quoted.

 

		7.	Certain Notice Requirements.

 

7.1     Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to
receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder
of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events
described in Section 7.2 shall occur, then, in one or more of said events, the Company shall give a copy of each notice given to
the other shareholders of the Company written notice of such event at the same time that it gives notice thereof to such shareholders.

 

     

     

    

 

7.2     Events Requiring
Notice. The Company shall be required to give the notice described in this Section 7 upon one or more of the following events:
(i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend or
distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings,
as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company shall offer
to all the holders of its Shares any additional shares of capital stock of the Company or securities convertible into or exchangeable
for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation
or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation) or a sale
of all or substantially all of its property, assets and business shall be proposed.

 

7.3     Notice of Change
in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section
6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe
the event causing the change and the method of calculating same and shall be certified as being true and accurate by the Company’s
Chief Financial Officer.

 

7.4     Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall
be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered
Holder of the Purchase Warrant, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company,
to following address or to such other address as the Company may designate by notice to the Holders:

 

If to the Holder:

 

 

 

 

Attn:

 

a copy (which shall not constitute notice) to:

 

to the Company:

 

Alliance MMA, Inc.

590 Madison Avenue, 21st Floor

New York, New York 10022

Attn: Paul K. Danner, III, CEO

T: (212) 739-7825

 

With a copy to (which shall not constitute
notice):

 

Robert L. Mazzeo, Esq.

Mazzeo
Song P.C.

444 Madison Avenue,
4th Floor

New York, NY 10022

T: (212) 599-0700

 

		8.	Miscellaneous.

 

8.1     Amendments.
The Company may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holders in order
to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any other
provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company may deem
reasonably necessary or desirable and that the Company deem shall not adversely affect the interest of the Holders. All other modifications
or amendments shall require the written consent of and be signed by the party against whom enforcement of the modification or amendment
is sought.

 

     

     

    

 

8.2     Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

8.3.     Entire Agreement.
This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection with this
Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes
all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

8.4     Binding Effect.
This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and their permitted
assignees, respective successors, legal representative and assigns, and no other person shall have or be construed to have any
legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions herein
contained.

 

8.5     Governing Law;
Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflict of laws principles thereof. Each of the Company and the
Holder hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant
shall be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the
Company and the holder hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Any process or summons to be served upon the Company or the Holder may be served by transmitting a copy thereof by registered
or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the Company and the Holder in any action, proceeding
or claim. The Company (on its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates)
and the Holder hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury
in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

 

     

     

    

 

8.6      Waiver, etc. The failure of the Company or the Holder
to at any time enforce any of the provisions of this Purchase Warrant shall not be deemed or construed to be a waiver of any such
provision, nor to in any way affect the validity of this Purchase Warrant or any provision hereof or the right of the Company or
any Holder to thereafter enforce each and every provision of this Purchase Warrant. No waiver of any breach, non-compliance or
non-fulfillment of any of the provisions of this Purchase Warrant shall be effective unless set forth in a written instrument executed
by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance
or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

 

8.7      Execution in
Counterparts. This Purchase Warrant may be executed in two or more counterparts, and by the different parties hereto in separate
counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered
to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic transmission.

 

 

[SIGNATURE PAGE FOLLOWS]

 

     

     

    

 

IN WITNESS WHEREOF, the Company has caused this Purchase
Warrant to be signed by its duly authorized officer as of the ____ day of _______, 2016.

 

	 	ALLIANCE MMA, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name: Paul K. Danner, III	 
	 	 	Title: Chief Executive Officer	 

 

     

     

    

 

[Form to be Used to Exercise Purchase Warrant]

 

Date: __________, 20___

 

The undersigned hereby
elects irrevocably to exercise the Purchase Warrant for ______ shares of common stock, par value $0.001 per share (the “Shares”),
of Alliance MMA, Inc., a Delaware corporation (the “Company”), and hereby makes payment of $____ (at the rate
of $____ per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase Warrant
is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number
of Shares for which this Purchase Warrant has not been exercised.

 

The undersigned hereby
elects irrevocably to convert its right to purchase ___ Shares of the Company under the Purchase Warrant for ______ Shares, as
determined in accordance with the following formula:

 

	X 	=	Y(A-B)	 
	 	 	A	 
	 	 	 	 
	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The fair market value of one Share; and
	 	B	=	The Exercise Price.

 

The undersigned agrees
and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect
to the calculation shall be resolved by the Company in its sole discretion.

 

Please issue the Shares
as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase
Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

 

	Signature:	 	 
	Signature Guaranteed:	 	 

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES:

 

	Name:	 	 
	 	(Print in Block Letters)	 
	Address:	 	 
	 	 	 

 

NOTICE: The signature
to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or
any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

     

     

    

 

[Form to be Used to Assign Purchase Warrant]

 

(To be executed by the registered Holder
to effect a transfer of the within Purchase Warrant):

 

FOR VALUE RECEIVED, __________________
does hereby sell, assign and transfer unto the right to purchase shares of common stock, par value $0.001 per share, of Alliance
MMA, Inc., a Delaware corporation (the “Company”), evidenced by the Purchase Warrant and does hereby authorize
the Company to transfer such right on the books of the Company.

 

Dated: __________, 20__

 

	Signature:	 	 
	Signature Guaranteed:	 	 

 

 

NOTICE: The signature to this form must
correspond with the name as written upon the face of the within Purchase Warrant without alteration or enlargement or any change
whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on
a registered national securities exchange.

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