Document:

Blueprint

  Exhibit
10.7

 

LICENSE
AGREEMENT

 

 

1.

PARTIES

 

 

1.1.

The parties to this
license agreement (the “Agreement”) made as of June 22,
2016 (“Effective
Date”) are:

 

 

1.1.1.

Riot Games, Inc., a
Delaware corporation located at 12333 W. Olympic Blvd, Los Angeles,
CA 90064 (“Riot”); and

 

 

1.1.2.

Super League
Gaming, Inc., a Delaware corporation located at 2912 Colorado Ave.,
Suite 200, Santa Monica, CA 90404 (“SLG”).

 

 

1.2.

SLG and Riot shall
each be a “Party” and collectively shall be
the “Parties” to
this Agreement.

 

 

2.

RECITALS

 

 

2.1.

Riot develops and
publishes video games, including League of Legends, a popular
multiplayer online battle arena computer game.

 

 

2.2.

SLG operates
recreational leagues for gamers of all ages to compete, socialize
and play video games in movie theatres worldwide.

 

 

2.3.

SLG wants to make
Riot’s popular League of
Legends game available for use in SLG’s operations
within the Territory.

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-1-

 

 

 

3.

DEFINITIONS

 

 

3.1.

“Approved Movie Theatres” means any
of the physical movie theatres identified in Appendix A hereto and any other
physical movie theatres that the Parties mutually agree to in
writing during the performance of this Agreement.

 

 

3.2.

“Game” means the multiplayer online
battle arena game, League of
Legends.

 

 

3.3.

“Game Content” means the
Game’s audio-visual content, including the visual appearances
of its characters, and corresponding in-game data that is rendered
and made available to users or viewers of the Game
Content.

 

 

3.4.

“Game League Business” means
SLG’s business of operating Leagues featuring Participatory
Gaming in Approved Movie Theatres that utilizes the Game
Content.

 

 

3.5.

“Merchandise” means any merchandise
derived from, based on, using and/or featuring Game
Content.

 

 

3.6.

“Participatory Gaming” means
actively playing or consuming digital video game content in a
manner that requires a combination of real-time inputs,
communication and coordination either alone or in tandem with other
players. For the avoidance of doubt, Participatory Gaming does not
include: (i) video game viewing parties (e.g.,
theaters

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-2-

 

 

showing
organized/competitive video game events for customers to watch);
(ii) eSports events (e.g., competitive video game tournaments being
held in theaters for customers to watch); or (iii) any other
activities not reasonably contemplated within the scope of the Game
League Business as of the Effective Date, unless approved by
Riot.

 

 

 

3.7.

“Riot Marks” means the Riot
trademarks, logos and/or symbols identified in Appendix B, attached
hereto.

 

 

 

3.8.

“SLG Marks” means the SLG
trademarks, logos and/or symbols identified in Appendix B, attached
hereto.

 

 

4.

LICENSES

 

 

4.1.

Advertising and Merchandise.
During the Term and within the Territory, Riot grants SLG a
limited, non-exclusive, non-sublicenseable, non-transferable
license, subject to the terms of this Agreement and, in particular,
the approval process described in Section 7 below, to: (i)
display Game Content solely in connection with advertising,
marketing and promoting the Game League Business; and (ii) create
derivative works using Game Content and/or Riot Marks solely in
connection with the creation of Merchandise in strict accordance
with the terms of the Merchandise provision in Section 8 below.

 

 

4.2.

Operation of Game League.
During the Term and within the Territory, Riot grants SLG a
limited, non-sublicenseable, non-transferable license, subject to
the terms of this Agreement and, in particular, the approval
process described in Section 7 below, to use,
reproduce, distribute, display, and publicly perform the Game and
Game Content for operation of the Game League
Business.

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-3-

 

 

 

4.2.1.

[*****]

 

 

 

4.3.

SLG Marks. During the Term and
within the Territory, SLG grants Riot a limited, non- exclusive,
non-sublicenseable, non-transferable license to: (i) use the SLG
Marks solely as needed to fulfill Riot’s obligations to
promote, market, advertise and support the Game League Business;
and (ii) subject to SLG’s approval, which shall not be
unreasonably withheld, use the SLG Marks solely as needed to
manufacture, distribute and/or sell any Riot-approved
Merchandise.

 

 

5.

TERRITORY

 

 

 

The
territory for this Agreement shall be [*****].

 

 

6.

TERM

 

 

6.1.

[*****]

 

6.2. 

[*****]

 

6.3. 

[*****]

 

6.4.

One-Time Extension. Any further
extensions of the Term beyond the Extension Term must be agreed to
in writing by the Parties.

 

 

7.

APPROVAL
PROCESS

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-4-

 

 

 

7.1.

Process for approving the Game
League. SLG shall submit the following key milestone
documents (the “Key Milestone
Documents”) to Riot for approval:

 

 

 

7.1.1.

Preliminary Product Plan and Roadmap:
At least sixty (60) days prior to the commercial launch of the Game
League Business, high-level concept documentation, audience
segmentation/targeting and a twelve (12) month product/Game League
Business roll-out plan.

 

 

 

7.1.2.

Final Product Plan: At least thirty
(30) days prior to the commercial launch of the Game League
Business, a detailed product plan and go-to-market strategy
including, but not limited to: (i) a Game League Business
description, format and structure; (ii) Game League Business
pricing and a marketing/communications strategy and spend (the
“Marketing
Plan”); (iii) a staffing plan describing, in detail,
how the Game League Business will be staffed; and (iv) a roll-out
plan for each market. The Marketing Plan shall describe, in detail,
the marketing efforts that both Parties shall undertake during the
Initial Term.

 

 

 

7.1.2.1.1. If Riot
does not approve any of the Key Milestone Documents, Riot shall
provide feedback to SLG within ten (10) business days explaining
the reason for disapproval. For the avoidance of doubt, SLG may not
commercially launch the Game League Business without first
obtaining Riot’s approval on each of the Key Milestone
Documents.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-5-

 

 

7.2.

Process for approving promotional
material. Prior to displaying any Game Content in connection
with any advertising, marketing and/or promotions of the Game
League Business (“Promotional
Material”), SLG shall submit a sample of any
Promotional Material to Riot for approval, at least five (5)
business days prior to distributing, displaying, and/or otherwise
using such Promotional Material. SLG shall not distribute, display,
and/or otherwise use such Promotional Material without receiving
Riot’s prior written approval. Riot may withhold its approval
in its sole and absolute discretion. If Riot fails to respond to
SLG’s request for approval within five (5) business days,
SLG’s request for approval shall be deemed denied by Riot. If
Riot fails to respond within five

 

(5)
business days, SLG shall send a reminder email to Riot within
forty-eight (48) hours thereafter. SLG shall not be required to
re-submit any previously approved Promotional Material for
subsequent use.

 

 

7.3.

Process for approving
Merchandise. Prior to manufacturing, distributing or selling
any Merchandise, SLG shall submit a sample to Riot for approval.
Riot may withhold its approval in its sole and absolute discretion.
For the avoidance of doubt, Riot has no obligation whatsoever to
approve any Merchandise. If Riot fails to respond to SLG’s
request for approval, SLG’s request for approval shall be
deemed denied by Riot.

 

 

7.4.

Revocation of Riot’s
approval. Notwithstanding anything herein to the contrary,
Riot may revoke any previously granted approval, in its sole an
absolute discretion; provided, however, that Riot shall use good
faith efforts to provide context for such revocation, suggestions
for alternatives, and provide a reasonable time period for SLG to
come into compliance with the revocation.

 

 

8.

MERCHANDISE

 

 

 

8.1.

Co-branding requirement. Any
Merchandise submitted by SLG to Riot for approval must be
co-branded.

 

 

 

8.2.

Distribution Channels. SLG may
only sell Riot-approved Merchandise on its website
(https://superleague.com/) and in Approved Movie
Theatres.

 

 

8.3.

Sell-off. After the expiration
or termination of this Agreement, unless earlier terminated, SLG
shall have a one (1) month sell-off period for any Riot-approved
Merchandise. At the expiration of the sell-off period, SLG shall
destroy any remaining Merchandise and provide verification to
Riot.

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-6-

 

 

 

9.

SLG
OBLIGATIONS

 

 

9.1.

SLG will expend, on
an annual basis, a minimum of the greater of (i) [*****] or (ii)
[*****] of SLG’s gross revenue, on marketing, advertising and
promotions relating solely to the Game League (the
“Marketing
Expenditures”).

 

 

9.2.

SLG shall hire a
dedicated, full-time employee who is deeply knowledgeable about the
Game and the gaming industry to manage Game League operations and
ensure an authentic, player-focused experience.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-7-

 

 

9.3.

[*****]

 

 

 

9.4.

SLG will operate
the Game League in a manner that maximizes the performance of the
Game League on a standalone basis and not take any actions
materially adverse to Riot.

 

 

 

9.5.

[*****]

 

 

 

 

9.6.

SLG Change of
Control. In the event of a SLG Change of Control (as defined
below), and without prejudice to any other obligations of SLG under
this License Agreement, SLG shall reasonably maintain the same
level of commitment and employee engagement, including the ongoing
involvement of not less than a majority of SLG senior management in
existence of a SLG Change of Control, with respect to the Game
League operations, in all material respects, after the SLG Change
of Control, in comparison to that level prior to the SLG Change of
Control, for no less than one year.

 

 

9.6.1.

“SLG Change of Control” means any
(i) transaction, or series of related transactions, in which a
person, or a group of related persons, acquires from stockholders
of SLG, shares representing more than fifty percent (50%) of the
out- standing voting power of SLG, or (ii) sale of all or
substantially all assets of SLG.

 

 

10.

RIOT
OBLIGATIONS

 

 

10.1.

Riot shall assign a
Game product owner to interface with SLG on all Game League
matters.

 

 

10.2.

[*****]

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-8-

 

 

 

10.3.

Riot shall work in
good faith with SLG to provide the following technical and
operational assistance:

 

 

 

10.3.1.

[*****]

 

 

 

10.3.2.

[*****]

 

 

11.

MARKETING
RESTRICTIONS

 

 

11.1.

Neither Party shall
place, display or post any materials depicting the other
Party’s intellectual property which contains any material
which is unlawful, libelous, obscene, indecent, threatening,
intimidating, or harassing. Additionally, SLG shall not feature, or
permit any third-party to feature, any of the following in its
advertising or promotions relating to the Game or the Game
League:

 

11.1.1.

[*****]

 

 

11.1.2.

[*****]

 

 

11.1.3.

[*****]

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-9-

 

 

 

11.1.4.

[*****]

 

 

 

11.1.5.

[*****]

 

 

 

11.1.6.

[*****]

 

 

 

11.1.7.

[*****]

 

 

11.1.8.

[*****]

 

 

12.

ROYALTIES

 

 

12.1.

Game League Operations: SLG
shall pay Riot a royalty of [*****] on the first ten million USD
($10,000,000.00) of aggregate Game League net revenue accrued over
the Term (the “Net Revenue
Threshold”) and [*****] on additional Game League net
revenue in excess of the Net Revenue Threshold.

 

 

12.1.1.

For purposes of
this Section 12.1, “Net
Revenue” shall mean all Game League revenue, less the
amounts actually charged to SLG by theatre operators (the
“Theatre
Costs”). Theatre Costs are capped at a maximum of
fifty percent (50%) of

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-10-

 

 

Game
League revenue. Calculations of Net Revenue shall be made on an
individual theatre company basis and SLG may not aggregate Theatre
Costs across multiple theatre operators.

 

 

 

12.2.

Merchandise: SLG shall pay Riot
a royalty of [*****] on gross revenue for all Merchandise sold
(other than by Riot).

 

 

 

12.2.1.

For purposes of
this Section 12.2, “gross
revenue” means the amounts actually paid by consumers
for the Merchandise. For the avoidance of doubt, Riot shall have no
obligation to pay any royalty to SLG for Merchandise that Riot
sells.

 

 

 

12.3.

GAAP. All amounts calculated
under this Agreement must be calculated in accordance with U.S.
generally accepted accounting principles (“GAAP”).

 

 

13.

REPORTS
& PAYMENT

 

 

13.1.

No later than
thirty (30) days after the end of each quarterly period during the
Term, SLG shall send Riot a detailed report to
sharan@riotgames.com, which shall include detailed information for:
[*****]. If reasonably requested by Riot, SLG shall use
commercially reasonable efforts to provide reports on a monthly
basis.

 

 

13.2.

Riot will send SLG
invoices reflecting amounts due to Riot based on SLG’s
reports. SLG shall pay the invoiced amounts within seven (7)
calendar days of receipt of Riot’s invoices. All payments
will be made in U.S. Dollars by wire transfer into Riot’s
bank account specified below or such other bank account of Riot in
the U.S. as Riot may specify in writing. SLG will bear any wire
transfer fees charged by the transferred bank, and Riot will bear
any wire transfer fees charged by the receiving bank.

 

 

[*****]

 

 

14.

AUDIT

 

 

SLG
shall maintain and keep (at SLG’s principal place of business
and at its sole expense), during the Term and for at least three
(3) years after expiration or earlier termination of this
Agreement, accurate books of accounting and records covering all
matters and transactions related to this Agreement. Riot and its
duly authorized representative(s) shall have the right, upon
reasonable notice and at all reasonable hours

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-11-

 

 

of the
day, to examine and copy and otherwise audit said books of
accounting, records and all other documents and materials in the
possession or under the control of SLG with respect to all
transactions related to this Agreement. [*****].

 

 

 

15.

EQUITY

 

 

15.1.

Capitalization
Representations and Warranties. SLG represents and warrants to Riot
the following:

 

 

15.1.1.

Authorized Shares.
The authorized capital of SLG consists, immediately prior to the
Effective Date, of: (i) 45,000,000 shares of common stock, par
value $0.001 per share (“Common Stock”), of which
7,549,279 shares are issued and outstanding and

(ii)
5,000,000 shares of preferred stock, of which 0 shares are issued
and outstanding, immediately prior to the Effective Date. The
Company holds no Common Stock in its treasury. The rights,
privileges and preferences of the Common Stock will be as stated in
the Certificate of Incorporation which has been provided to
Riot.

 

 

 

15.1.2.

Company Plan. SLG
has reserved 3,000,000 shares of Common Stock for issuance to
officers, directors, employees and consultants of SLG pursuant to
the 2014 Stock Option and Incentive Plan (the “Company Plan”) duly adopted by the
Board of Directors and approved by SLG stockholders. Of such
reserved shares of Common Stock, 2,483,493 shares of Common Stock
have been issued pursuant to options to purchase Common Stock, a
stock option to purchase 70,000 shares of Common Stock has been
exercised pursuant to the Company Plan, and 446,507 shares of
Common Stock remain available for issuance to officers, directors,
employees and consultants pursuant to the Company Plan. SLG has
furnished to Riot complete and accurate copies of the Company Plan
and forms of agreements used thereunder.

 

 

 

15.1.3.

Rights. Except for
(i) options outstanding to purchase 2,463,493 shares of Common
Stock, all of which have been issued pursuant to the Company Plan,
with a weighted average exercise price of $2.36 per share, (ii)
warrants outstanding to purchase 1,450,000 shares of Common Stock,
with a weighted average exercise price of $2.43 per share, (iii)
restricted stock units underlying 25,000 shares of Common Stock,
(iv) the conversion privileges of the zero coupon unsecured
convertible promissory notes outstanding in the original principal
amount of

$5,050,000 relating
to the May 2016 financing of SLG; (v) the pro rata rights provided
in Section 6 of the Series B Subscription Agreement entered into by
and between SLG and each of the investors in the Series B round
which closed in 2015;

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-12-

 

 

and
(vi) the pro rata rights provided for in Section 15.4 of this
Agreement; there are no outstanding options, warrants, rights
(including conversion or preemptive rights and rights of first
refusal or similar rights) or agreements, orally or in writing, to
purchase or acquire from the Company any shares of Common Stock, or
any securities convertible into or exchangeable for shares of
Common Stock.

 

 

 

15.1.4.

Lock-Up. All
outstanding shares of the SLG’s Common Stock and all shares
of the SLG Common Stock underlying outstanding options or other
award agreements are subject to a lock-up or market standoff
agreement (applicable only as may be required by an underwriter of
SLG’s equity securities) following a public offering pursuant
to a registration statement filed with the Securities and Exchange
Commission under the Securities Act of 1933 (the
“Securities
Act”).

 

 

15.1.5.

Repurchase,
Redemption, Acceleration. Except for the SLG 2014 Stock Option and
Incentive Plan, and certain existing executive employment
agreements, which provide for acceleration upon a change of
control, no stock plan, stock purchase, stock option or other
agreement or understanding between SLG and any holder of any
securities or rights exercisable or convertible for securities
provides for acceleration or other changes in the vesting
provisions or other terms of such agreement or understanding as the
result of the occurrence of any event. SLG has no obligation
(contingent or otherwise) to purchase or redeem any of its capital
stock.

 

 

15.1.6.

Securities Laws.
That all outstanding securities of Company were duly and validly
authorized and issued, fully paid and non-assessable, in accordance
with the Securities Act, as amended, and relevant state
(“Blue Sky”)
securities laws, and issued pursuant to valid exemptions from
securities registration under Federal and Blue Sky
laws.

 

 

15.1.7.

Documentation. SLG
has provided Riot with all relevant and material documentation with
respect to the securities issued by SLG to Riot and all rights
pertaining thereto. No securities-related agreements entered into
between SLG and any other shareholder or party in respect of its
capital stock provides for any rights or preferences that are
materially different or preferential in any material respect from
the rights or preferences of Riot as described in this Agreement
(and exhibits hereto).

 

 

15.2.

Restricted Stock Grant.
Pursuant to the vesting and other terms and conditions of the
Restricted Stock Grant Agreement attached hereto as Exhibit A, SLG hereby issues to
Riot five hundred fifty thousand (550,000) restricted shares of
Common Stock of SLG.

 

 

15.3.

Common Stock Purchase Warrant.
Pursuant to the vesting, exercise price, exercise term and other
hereto terms and conditions of the Common Stock Purchase Warrant
(“Warrant”)
attached as Exhibit
B, SLG hereby issues the Warrant to purchase the sum of five
hundred thousand (500,000) shares of Common Stock of
SLG.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-13-

 

 

15.4.

Registration
Rights. Riot shall be afforded the right to enter into the
Registration Rights Agreement in the form attached hereto as
Exhibit
C.

 

 

 

15.5.

Pro-Rata Rights in Future
Financings. Riot shall have the right to participate, upon
reasonable prior notice from SLG, in future equity financings of
SLG to maintain its respective fully diluted ownership in SLG
(“Pro-Rata
Rights”). The Pro-Rata Rights shall conclude
immediately prior to an initial public offering of
SLG.

 

 

 

15.6.

Most Favored Nation. In the
event that SLG enters into a shareholder agreement,
investors’ rights agreement, side letter, or similar
agreement with any investor, whereby such investor obtains any
investor rights (including, but not limited to, information,
notification, preemptive, tag-along, or drag-along rights, but
excluding, for the avoidance of doubt, any board representation or
observation rights, or any SLG industry- specific rights), Riot
shall be made a party as a “major holder” (or similar
party) thereto or otherwise shall be given rights commensurate to
such investors.

 

15.7.

Information
Rights.

 

 

15.7.1.

SLG shall provide
the following to Riot upon request:

 

 

15.7.1.1.

As soon as
practicable, but in any event within ninety (90) days after the end
of each fiscal year of SLG, an income statement for such fiscal
year, a balance sheet of SLG and statement of stockholders’
equity as of the end of such year, and a statement of cash flows
for such year, such year-end financial reports to be in reasonable
detail, prepared in accordance with GAAP, except that such
financial statements may (i) be subject to normal year-end audit
adjustments and (ii) not contain all notes thereto that may be
required in accordance with GAAP).

 

 

15.7.1.2.

As soon as
practicable, but in any event within forty-five (45) days after the
end of each of the first three (3) quarters of each fiscal year of
SLG, an unaudited income statement, statement of cash flows for
such fiscal quarter and an unaudited balance sheet and statement of
stockholders’ equity as of the end of such fiscal quarter,
all prepared in accordance with GAAP (except that such financial
statements may (i) be subject to normal year-end audit adjustments
and (ii) not contain all notes thereto that may be required in
accordance with GAAP);

 

 

15.7.1.3.

If, for any period,
SLG has any subsidiary whose accounts are consolidated with those
of SLG, then in respect of such period the financial statements
delivered pursuant to the foregoing sections shall be the
consolidated and consolidating financial statements of the SLG and
all such consolidated subsidiaries.

 

 

15.7.2.

Notwithstanding
anything else in this Section 15.7 to the contrary, SLG may cease
providing the information set forth in this Section 15.7 during the
period starting with the date thirty (30) days before SLG’s
good-faith estimate of the date

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-14-

 

 

of
filing of a registration statement as mandated by “quiet
period” regulations; provided that SLG’s covenants
under this Section 15.7 shall be reinstated at such time as SLG is
no longer actively employing its commercially reasonable efforts to
cause such registration statement to become effective.

 

 

 

15.7.3.

The covenants set
forth in this Section 15.7 shall terminate and be of no further
force or effect upon the earlier to occur of (a) the consummation
of an IPO, (b) when SLG first becomes subject to the periodic
reporting requirements of Sections 12(g) or 15(d) of the 1934 Act,
whichever event shall first occur or (c) the consummation of a
change of control.

 

 

16.

EXPENSES

 

 

Unless
otherwise set forth in this Agreement, each Party will bear its own
costs and expenses that are incurred in the performance of their
obligations under this Agreement.

 

 

17.

TERMINATION

 

 

17.1.

Termination by Riot. Riot shall
have the right to terminate this Agreement by providing written
notice to SLG as follows:

 

 

17.1.1.

[*****]

 

 

17.1.2.

[*****]

 

 

17.1.3.

[*****]

 

 

17.1.4.

[*****]

 

 

17.1.5.

[*****]

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-15-

 

 

17.1.6.

[*****]

 

 

 

17.2.

Effect of Termination. If Riot
terminates this Agreement, each Party shall promptly destroy or
return the other party’s Confidential Information in its
possession, custody or control, unless retention of such
information is required by law (e.g., by tax regulations); all sums
due to Riot hereunder shall become immediately due and payable in
full without set-off of any kind; SLG shall immediately cease
exploitation of the rights granted herein, including without
limitation, its operation of the Game League (unless Riot advises
SLG in the notice of termination that SLG should instead wind- down
the Game League over a prescribed period of time), advertising and
promotion of the Game League, and its production and sale of
Merchandise; SLG shall, within one (1) month after termination,
deliver to Riot a complete and accurate inventory of all
Merchandise on hand and/or in the process of manufacture, as of
both the date of termination and the date of such statement and
Riot shall have the right, upon fifteen

(15)
days prior notice, to enter onto SLG’s premises during normal
business hours to conduct physical inventories to verify the
accuracy of such statement; and Riot shall have the opportunity, in
its sole discretion, to purchase all existing Merchandise at
SLG’s cost of manufacture in its sole or demand that such
Merchandise be destroyed.

 

 

18.

CONFIDENTIALITY

 

 

18.1.

Confidential Information. Each
Party acknowledges that by reason of its relationship to the other
Party under this Agreement it will have access to and acquire
knowledge, material, data, systems and other information concerning
the operation, business, financial affairs and intellectual
property of the other Party that may not be accessible or known to
the general public, including the terms of this Agreement (referred
to as “Confidential
Information”).

 

 

18.2.

No Disclosure/Use. Each Party
agrees that it will: (i) maintain and preserve the confidentiality
of all Confidential Information received from the other Party (the
“Disclosing
Party”), both orally and in writing, including taking
such steps to protect the confidentiality of the Disclosing
Party’s Confidential Information as the Party receiving such
Confidential Information (the “Receiving Party”) takes to protect
the confidentiality of its own confidential or proprietary
information; provided, however, that in no instance shall the
Receiving Party use less than a reasonable standard of care to
protect the Disclosing Party’s Confidential Information; (ii)
disclose such Confidential Information only to its own employees on
a “need-to-know” basis, and only to those employees who
have agreed to maintain the confidentiality thereof pursuant to a
written agreement containing terms least as stringent as those set
forth in this Agreement; (iii) not disassemble, “reverse
engineer” or “reverse compile” such software for
any purpose in the event that software is involved; and (iv) not
disclose such Confidential Information to any third party without
the prior written consent of the Disclosing Party; provided,
however, that each Party may disclose the financial terms of this
Agreement to its legal and business advisors and to potential
investors so long as such third parties agree to maintain the
confidentiality of such Confidential Information.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-16-

 

 

Each
Receiving Party further agrees to use the Confidential Information
of the Disclosing Party only for the purpose of performing its
obligations under this Agreement. The Receiving Party’s
obligation of confidentiality shall survive this Agreement for a
period of five (5) years from the date of its termination or
expiration and thereafter shall terminate and be of no further
force or effect; provided, however, that with respect to
Confidential Information which constitutes a trade secret, such
information shall remain confidential so long as such information
continues to remain a trade secret. The Parties also mutually agree
to (1) not alter or remove any identification or notice of any
copyright, trademark, or other proprietary rights which indicates
the ownership of any part of the Disclosing Party’s
Confidential Information; and (2) notify the Disclosing Party of
the circumstances surrounding any possession or use of the
Confidential Information by any person or entity other than those
authorized under this Agreement.

 

 

18.3.

Exclusions. The confidentiality
obligations of the Parties described18.1 above shall not apply to
Confidential Information which the Receiving Party can prove: (i)
has become a matter of public knowledge through no fault, action or
omission of or by the Receiving Party; (ii) was rightfully in the
Receiving Party’s possession prior to disclosure by the
Disclosing Party; (iii) subsequent to disclosure by the Disclosing
Party, was rightfully obtained by the Receiving Party from a third
party who was lawfully in possession of such Confidential
Information without restriction; (iv) was independently developed
by the Receiving Party without resort to the Disclosing
Party’s Confidential Information; or (v) must be disclosed by
the Receiving Party pursuant to law, judicial order or any
applicable regulation (including any applicable stock exchange
rules and regulations); provided, however, that in the case of
disclosures made in accordance with the foregoing clause (v), the
Receiving Party must provide prior written notice to the Disclosing
Party of any such legally required disclosure of the Disclosing
Party’s Confidential Information as soon as practicable in
order to afford the Disclosing Party an opportunity to seek a
protective order, or, in the event that such order cannot be
obtained, disclosure may be made in a manner intended to minimize
or eliminate any potential liability.

 

 

18.4.

Terms of this Agreement
Confidential. Subject to the exception provided by Section
18.2(iv), for the avoidance of doubt, the terms of this Agreement
shall be considered Confidential Information, and SLG shall not
disclose or make reference thereto without the prior written
consent of Riot for any purpose. For the avoidance of doubt,
disclosure of Appendix
C by SLG shall be deemed an uncurable material breach of
this Agreement.

 

 

19.

PRIVACY
AND DATA SECURITY

 

 

 

19.1.

Privacy Laws. SLG shall at all
times perform its obligations hereunder in accordance with
SLG’s privacy policies, the requirements of any contracts or
codes of conduct to which SLG is a party and any applicable laws or
regulations related to the processing of Personal Data (as defined
below) and/or the privacy of individual data subjects
(collectively, “Privacy
Laws”), including obtaining and at all times
maintaining any appropriate registrations or certifications under
such Privacy Laws.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-17-

 

 

19.2.

Data Processing. For the
purposes of this Agreement, “Personal Data” has the meaning set
forth in applicable Privacy Laws, specifically including without
limitation any and all personally identifiable information of Riot
customers or employees, as well any copies or corresponding
reference files kept or made by SLG thereof in any format. To the
extent the Services require SLG to process Personal Data, SLG
expressly acknowledges and agrees that it will only process such
Personal Data in accordance with terms and conditions of this
Agreement and Riot’s instructions, and only as necessary to
perform its obligations hereunder. Without limiting the generality
of the foregoing, under no circumstances shall SLG (i) sell, rent,
share with or otherwise distribute or disclose Personal Data to any
third parties without Riot’s express prior written
consent;

 

(ii)
use Personal Data for directed marketing or advertising; or (iii)
otherwise process Personal Data for any purposes whatsoever except
as necessary to provide the Services.

 

 

19.3.

Information Security. SLG shall
establish, employ and at all times maintain physical, technical and
administrative security safeguards and procedures sufficient to
prevent any unauthorized processing of Personal Data and/or use,
access, copying, exhibition, transmission or removal of
Riot’s Confidential Information from SLG’s facilities.
SLG shall promptly provide Riot with written descriptions of such
procedures and policies upon request. Riot shall have the right,
upon reasonable prior written notice to SLG and during normal
business hours, to conduct on-site security audits or otherwise
inspect SLG’s facilities to confirm compliance with such
security requirements.

 

 

19.4.

Security Breaches.

 

 

19.4.1.

Informing Riot. In the event of
any actual or potential unauthorized processing of Personal Data in
SLG’s possession or control (each, a “Security Breach”), SLG shall
notify Riot as soon as practicable (but in no event later than
twenty-four (24) hours after SLG becomes aware of such a Security
Breach) and immediately start coordinating with Riot to investigate
the Security Breach.

 

 

19.4.2.

Investigation and Costs. SLG
agrees to fully cooperate with Riot in Riot’s handling of any
Security Breach, including: (1) assisting with any investigation;
(2) providing Riot and/or its authorized representatives with
physical access to the facilities and operations affected; (3)
facilitating interviews with SLG’s employees and others
involved in the matter; (4) making available all relevant records,
logs, files, data reporting and other materials required to comply
with applicable law; and

(5) at
Riot’s request and expense, making available all relevant
records, logs, files, data reporting and other materials required
to comply with any regulation, industry standards or as otherwise
required by Riot. Additionally, SLG agrees to reimburse Riot for
actual costs incurred by Riot in responding to, and mitigating
damages caused by, any Security Breach, including all costs of
notice and/or remediation pursuant to this Section 19.

 

 

19.4.3.

Breach Notification. SLG shall
not inform any third party of any Security Breach without
Riot’s prior written consent, other than to inform a
complainant that the matter has been forwarded to Riot. Further,
SLG agrees that Riot shall have the sole right to determine: (1)
whether notice of the Security Breach is to be provided
to

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-18-

 

 

any
individual data subjects, regulators, law enforcement agencies,
consumer reporting agencies or others as required by Privacy Laws
or otherwise in Riot’s discretion; and (2) the contents of
such notice, whether any type of remediation may be offered to
affected persons and the nature and extent of any such
remediation.

 

 

 

19.4.4.

Termination. In the event of a
Security Breach, Riot shall have the option to immediately
terminate this Agreement without penalty upon written notice to SLG
(notwithstanding any other termination rights set forth herein, and
without limiting any other remedies that may be available to Riot
at law, in equity or otherwise).

 

 

20.

REPRESENTATIONS
AND WARRANTIES

 

 

20.1.

Standing; Due Authorization.
SLG represents, warrants and covenants that it: (i) is an entity
duly formed and/or organized and validly subsisting pursuant to the
laws of its jurisdiction of formation and/or organization; (ii) is
qualified to do business in the jurisdictions in which it operates
the Game League; and (iii) has due authorization and authority to
enter into this Agreement and to fully perform its obligations
hereunder.

 

 

20.2.

Performance. SLG represents and
warrants that in performing its obligations hereunder and operating
the Game Leagues, it shall at all times: (i) conduct itself in a
professional manner in reasonable accordance with industry
standards; and (ii) comply with all applicable laws, statutes,
ordinances, rules, regulations and requirements of all governmental
agencies and regulatory bodies.

 

 

21.

INDEMNITY

 

 

21.1.

Each Party will
indemnify the other Party and any of its affiliates, subsidiaries,
directors, officers, agents, employees, successors and assigns from
and against any and all third party claims, actions, losses,
damages and expenses (including reasonable, outside attorney fees)
arising out of or caused by: (i) any material failure by the other
Party to perform its obligations under this Agreement; and (ii) the
material breach of any representation, warranty, and/or covenant
made by the other Party under this Agreement.

 

 

21.2.

If any action is
brought against a Party being indemnified hereunder and/or its
affiliates, subsidiaries, directors, officers, agents, employees,
successors and assigns (the “Indemnified Party”) with respect
to any allegation for which indemnity may be sought from the other
Party (the “Indemnifying
Party”), the Indemnified Party shall promptly notify
the Indemnifying Party in writing. The Indemnified Party shall
cooperate with the Indemnifying Party, at the Indemnifying
Party’s expense and in all reasonable respects, in connection
with the defense of any such action. The Indemnifying Party shall
conduct all proceedings or negotiations in connection therewith,
assume the defense thereof, and all other required steps or
proceedings to settle or defend any such action, including the
employment of counsel and payment of all expenses. The Indemnified
Party shall have the right to employ separate counsel and
participate in the defense at the Indemnified Party’s sole
expense. The Indemnifying Party shall not enter into any settlement
that obligates the Indemnified Party to take any action or incur
any expense without such

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-19-

 

 

Indemnified
Party’s prior written consent, which consent shall not be
unreasonably withheld or delayed.

 

 

22.

INSURANCE

 

 

SLG
shall secure and maintain, at its sole cost and expense, in
connection with its obligations hereunder and operation of the Game
League, all customary and necessary insurance policies, including
comprehensive general liability insurance with limits of not less
than One Million USD ($1,000,000) per occurrence / Two Million USD
($2,000,000) in the aggregate, employer’s liability insurance
in a minimum amount of One Million USD ($1,000,000) per occurrence,
automobile liability insurance in a minimum amount of One Million
USD ($1,000,000) per occurrence, statutory worker’s
compensation insurance and professional liability or cyber
liability insurance (which shall include errors and omissions,
media liability, privacy and network security insurance) with
limits of not less than Two Million USD ($2,000,000) per occurrence
/ Two Million USD ($2,000,000) in the aggregate, which policies
shall list Riot as additional insureds (collectively, the
“Insurance”).
SLG shall deliver to Riot a certificate evidencing the Insurance
required by this Section 22. SLG shall use an Insurance provider
with an AM BEST ratings of at least A-VII and shall be pre-
approved by Riot in writing.

 

23.

NON-SOLICITATION

 

 

 

[*****]

 

 

24.

LIMITATION
OF LIABILITY

 

 

TO THE
MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES
SHALL RIOT BE LIABLE TO SLG FOR ANY CLAIM (REGARDLESS OF THEORY OF
LIABILITY, WHETHER BASED UPON PRINCIPLES OF CONTRACT, WARRANTY,
NEGLIGENCE OR OTHER TORT, BREACH OF ANY STATUTORY DUTY, PRINCIPLES
OF INDEMNITY, THE FAILURE OF ANY LIMITED REMEDY TO ACHIEVE ITS
ESSENTIAL PURPOSE OR OTHERWISE) FOR ANY SPECIAL, CONSEQUENTIAL,
RELIANCE, INDIRECT, INCIDENTAL, PUNITIVE OR EXEMPLARY DAMAGES,
WHETHER FORESEEABLE OR NOT, INCLUDING LOST PROFITS, REVENUE OR
GOODWILL. IN NO EVENT SHALL RIOT’S LIABILITY TO SLG ARISING
OUT OF OR IN CONNECTION WITH THIS AGREEMENT EXCEED THE TOTAL
AMOUNTS PAID BY SLG TO RIOT HEREUNDER.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-20-

 

 

25.

DISPUTE
RESOLUTION

 

 

25.1.

Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of
the State of California.

 

 

 

25.2.

Injunctive Relief. SLG agrees
that in the event of any breach or alleged breach by SLG of any
covenant or agreement in this Agreement, Riot would encounter
extreme difficulty in attempting to prove the actual amount of
damages suffered by it as a result of such breach and would not
have adequate remedy at law in such event. SLG therefore agrees
that, in addition to any other remedy available at law or in
equity, in the event of such breach, Riot shall be entitled to seek
and receive specific performance and temporary, preliminary and
permanent injunctive relief from violation of any of said covenants
and agreements without the requirement of proving the amount of any
actual damage to Riot resulting or expected from such
breach.

 

 

25.3.

Attorney Fees. In any action
arising out of or related to this Agreement, the prevailing Party
shall be entitled to recover its costs and attorney fees reasonably
incurred in connection with the dispute.

 

 

26.

MISCELLANEOUS

 

 

26.1.

Assignment and Change of
Control. Neither Party may assign this Agreement, in whole
or in part, by operation of law or otherwise, without the other
Party’s prior written consent.

 

 

 

26.2.

Notices. All notices or other
communications required or permitted hereunder shall be in writing
and shall be deemed to have been duly given (a) on the date
delivered in person or by courier, (b) on the date a Party responds
via e-mail that it has received the other Party’s notice via
e-mail, (c) on the date indicated on the return receipt if mailed
postage prepaid, by certified or registered U.S. Mail, with return
receipt requested; or (d) if sent or mailed by Federal Express or
other nationally recognized overnight delivery service, then as of
the next business day. In each case, such notices and other
communications shall be sent to a Party at the following
addresses:

 

 

 

If to
SLG:

 

 

Super
League Gaming, Inc. 2912 Colorado Ave., Suite 200 Santa Monica, CA
90404 Attn: General Counsel

Email:
gregg@superleague.com

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-21-

 

 

If to
Riot:

 

 

[*****]

 

 

 

26.3.

Severability. If any provision
of this Agreement is or becomes or is deemed invalid, illegal or
unenforceable in any jurisdiction, such provision shall be deemed
amended to conform to the applicable laws of such jurisdiction so
as to be valid and enforceable, or, if it cannot be so amended
without materially altering the intention of the Parties, it will
be stricken, but the validity, legality and enforceability of such
provision shall not in any way be affected or impaired thereby in
any other jurisdiction and the remainder of this Agreement shall
remain in full force and effect.

 

 

26.4.

Waiver. Waiver by either of the
Parties of any breach of any provision of this Agreement shall not
operate or be construed as a waiver of any prior or subsequent
breach of the same or any other provision hereof.

 

 

26.5.

Entire Agreement. This
Agreement (including all exhibits attached hereto, which are
incorporated herein by reference) constitutes the entire agreement
between the Parties with respect to the subject matter hereto and
all prior agreements and negotiations are merged herein. This
Agreement may not be changed, modified, amended or supplemented,
except in writing signed by both Parties.

 

 

26.6.

Interpretation. The headings
contained herein are for convenience and reference only, do not
form a substantive part of this Agreement and in no way modify,
interpret or construe the intentions of the Parties. No provision
of this Agreement shall be interpreted for or against any Party
because that Party or its legal representative drafted such
provision. The words “including” and/or
“include” shall be interpreted without limitation when
used in this Agreement. If this Agreement is translated into any
language other than English, the English language version of this
Agreement shall prevail. A reference to a statute or statutory
provision herein is a reference to such statute or statutory
provision as amended, extended or re-enacted from time to
time.

 

 

26.7.

Counterparts. This Agreement
may be executed in multiple counterparts, each of which shall be
deemed to be an original, and all such counterparts shall
constitute one instrument, and signatures transmitted by facsimile
or electronic scan shall be effective.

 

 

26.8.

Not Effective Until Execution.
This Agreement shall have no force or effect, and nothing in this
Agreement shall be binding upon Riot and SLG, unless and until such
time, if any, as this Agreement has been executed by an authorized
signatory of Riot and SLG, respectively.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-22-

 

 

 

 

 

 

 

 

 

 

IN WITNESS
WHEREOF, this Agreement has
been executed and is effective as of the Grant
Date.

 

 

 

SUPER LEAGUE GAMING, INC.

 

 

 

 

By: /s/ Ann
Hand

Ann
Hand

 

CEO

 

 

RIOT GAMES, INC.

 

By:
/s/ A. Dylan
Jadeja

Name:
A. Dylan Jadeja

Its:
Financial Officer

 

 

 

 

 

 

 

 

	

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-23-

 

 

Appendix
A

 

 

Approved Movie Theatres

 

 

1.

Cinemark

2. 

AMC

3. 

Regal

4. 

Carmike

5. 

Landmark

6. 

National
Amusements

7. 

Metropolitan

8. 

iPic

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-24-

 

 

Appendix
B

 

 

Riot Marks

 

 

1. To
be provided by Riot.

 

 

SLG Marks

 

 

1.

SLG

2. 

Super League
Gaming

3. 

Netname –
www.superleague.com

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-25-

 

 

Appendix
C

 

 

[*****]

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-26-

 

 

EXHIBIT
A RESTRICTED STOCK AGREEMENT

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-27-

 

 

THE
SHARES OF COMMON STOCK GRANTED UNDER THIS RESTRICTED STOCK
AGREEMENT HAVE NOT BEEN REGISTERED UNDER STATE OR FEDERAL
SECURITIES LAWS. NO SHARES OF COMMON STOCK GRANTED UNDER THIS
RESTRICTED STOCK AGREEMENT MAY BE OFFERED OR SOLD, PLEDGED, OR
OTHERWISE DISTRIBUTED, AND NO SHARES OF COMMON STOCK MAY BE
TRANSFERRED ON THE BOOKS OF THE COMPANY, EXCEPT IN A TRANSACTION
(I) THAT, IN THE OPINION OF COUNSEL, IS SATISFACTORY TO THE
COMPANY, WOULD RESULT IN NO VIOLATION OF SECURITIES LAWS AND (II)
THAT WOULD COMPLY WITH THE TRANSFER RESTRICTION PROVISIONS
CONTAINED OR REFERENCED IN THIS RESTRICTED STOCK
AGREEMENT.

 

SUPER
LEAGUE GAMING, INC. RESTRICTED STOCK AGREEMENT

 

 

Recipient:                                                                        

Riot Games,
Inc.

 

 

Grant
Date:                                                                        

June 22,
2016

 

 

Number
of Shares of Common Stock

Subject
to this Restricted Stock Grant: 550,000 Vesting
Schedule:

 

	

Vesting
Date

	

Percentage
of Shares of Restricted Stock Vesting

	

Number
of Shares of Restricted Stock Subject to Vesting

	

Cumulative
Total of Shares of Restricted Stock Vesting

	
 

 

Execution
hereof

	
 

 

25%

	
 

 

137,500

	
 

 

137,500

	

9-Month                     Anniversary

of
Grant Date

	
 

 

25%

	
 

 

137,500

	
 

 

275,000

	

18-Month
Anniversary of Grant Date

	
 

 

50%

	
 

 

275,000

	
 

 

550,000

 

 

This
Restricted Stock Agreement (“Agreement”), dated as of
the Grant Date specified above, is between Super League Gaming,
Inc., a Delaware corporation (“Company”), and the Riot
Games, Inc., a Delaware corporation (“Recipient”).
Capitalized terms used but not defined in this Agreement have the
meanings attributed to them in Appendix 1.

 

 

 

The
parties agree as follows:

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-28-

 

 

ARTICLE
I GRANT OF
SHARES

 

 

 

1.1 Grant. As of the Grant Date,
subject to the vesting schedule and other terms contained in this
Agreement, the Company hereby grants to the Recipient, and the
Recipient hereby accepts, the sum of Five Hundred Fifty Thousand
(550,000) shares of common stock (“Shares”), as partial
consideration for the issuance of a license to the Company to
utilize League of Legends (“LoL”) for purposes of
in-theater, participatory gaming in the North America region as
detailed in the License Agreement between the parties of even date
herewith.

 

 

 

1.2 Delivery of Shares. Promptly
following the execution and delivery of this Agreement and other
definitive agreements between the parties of even date herewith
(collectively, the “Transaction Agreements”), and
subject to Section 2.1, the Company shall issue to the Recipient
three (3) common stock certificates totaling the amount of the
Shares and consisting of the common share counts set forth in the
vesting schedule on the first page of this Agreement. The Company
shall provide Recipient with a common stock certificate in the
amount of One Hundred Thirty-Seven Thousand Five Hundred (137,500)
shares, representing the vested shares upon execution hereof, and
the remaining two (2) common stock certificates, consisting of Four
Hundred Twelve Thousand Five Hundred (412,500) shares of common
stock shall be deemed Unvested Shares (as defined below) and shall
be held in escrow in accordance with the terms of Article
IV.

 

 

1.3 Rights as a Shareholder. Upon
receipt of the Shares, the Recipient has all the rights of a
shareholder with respect to the Shares, subject to the terms
contained in this Agreement.

 

 

 

ARTICLE
II

TRANSFER RESTRICTIONS; SECURITIES LAW COMPLIANCE

 

 

 

2.1 Transfer Restrictions. The
Recipient shall not make or attempt to make any disposition,
pledge, gift, assignment, or other transfer (voluntarily or
involuntarily) of the Shares while the Shares are Unvested Shares
(as defined below). Any such transfer, purported transfer, or
attempted transfer will be void.

 

 

 

2.2 Legend. In addition to any
other restrictive legend required by the Company, in order to
reflect the restrictions on disposition of the Unvested Shares, the
Unvested Shares will bear and be subject to a restrictive legend,
similar to the following:

 

 

 

“THE SHARES
REPRESENTED BY THIS COMMON STOCK CERTIFICATE ARE SUBJECT TO A
RESTRICTED STOCK AGREEMENT, WHICH INCLUDES VESTING REQUIREMENTS AND
RESTRICTIONS ON SHARE TRANSFERS. THE NUMBER OF SHARES SUBJECT TO
VESTING ARE AS STATED IN THE RESTRICTED STOCK AGREEMENT. A COPY OF
THE RESTRICTED STOCK AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE
OF THE COMPANY AND WILL BE MAILED TO ANY PROPERLY INTERESTED PERSON
WITHOUT CHARGE UPON THE COMPANY’S RECEIPT OF A WRITTEN
REQUEST FOR IT. ANY SALE OR TRANSFER IN VIOLATION OF THE RESTRICTED
STOCK AGREEMENT WILL BE VOID.”

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-29-

 

 

2.3 Restricted Securities. The
Recipient makes the following representations to the
Company:

 

 

 

(a) The Recipient is
aware of the Company's business affairs and financial condition and
has acquired sufficient information about the Company to reach an
informed and knowledgeable decision to accept the grant of the
Shares as partial consideration for a license to LoL.

 

 

 

(b) The Recipient will
hold the Shares for the Recipient’s own account, not with a
view to or for sale in connection with, any distribution thereof,
nor with any present intention of distributing or selling the
same.

 

 

(c) The Recipient
confirms that the Recipient has been informed that the Shares have
not been, and will not be, registered under state and federal
securities laws, and are restricted securities under the Securities
Act of 1933 (“Securities Act”). The Recipient
understands that no Shares may be resold or transferred unless the
Shares are first registered under applicable state and federal
securities laws or unless an exemption from such registration is
available.

 

 

 

(d) The Recipient is
prepared to hold the Shares for an indefinite period and that the
Recipient is aware that Rule 144 of the Securities Act is not
presently available to exempt the sale of the Shares from the
registration requirements of the Securities Act.

 

 

(e) The Recipient
understands that no public market now exists for any of the Shares
issued by the Company, and that the Company has made no assurances
that a public market will ever exist for the Shares.

 

 

2.4 Lock-up Agreement. If required
by any underwriter in connection with a public offering of the
Company’s equity securities in a registration statement under
the Securities Act, if applicable, the Recipient shall not transfer
or dispose of the Shares (other than securities included in the
registration statement or shares purchased in the public market
after the effective date of registration) or any interest in the
Shares during such reasonable period as is acceptable to the
underwriter (and provided that all directors, officers, or 1%
shareholders are subject to the same) following the effective date
of such registration statement. In addition, the Recipient shall
sign one or more agreements as may be requested by an underwriter
in connection with such registration. The underwriters in
connection with such registration are intended third party
beneficiaries of this section and have the right, power, and
authority to enforce the provisions of this Agreement as though
they were a party to it. In order to enforce the covenants
contained in this section, the Company may impose stop-transfer
instructions with respect to the Shares until the end of such
restricted period.

 

 

 

ARTICLE
III VESTING

 

 

3.1
Vesting of Shares.
The vesting schedule for the Shares is set forth on the first page
of this Agreement. All Shares for which the Recipient has a vested
right are referred to herein as “Vested Shares,” and
all Shares for which the Recipient does not have a vested
right

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-30-

 

 

are
referred to herein as “Unvested Shares.” While in
escrow as provided in Article IV, the Unvested Shares will continue
to vest during the period in which Recipient and the Company have
an ongoing contractual business relationship as detailed in the
Transaction Agreements.

 

 

ARTICLE
IV ESCROW

 

 

4.1 Deposit of the Unvested Shares.
Upon issuance of the Shares, the Recipient shall deposit the
Unvested Shares (in certificated form) granted as part of such
issuance in escrow with the Company to be held in accordance with
the provisions of this Agreement.

 

 

4.2 Deposit of Additional Securities and
Other Property. Except as otherwise provided in this
Agreement, the Company shall deposit in escrow any new,
substituted, or additional securities or other property distributed
with respect to the Unvested Shares.

 

 

4.3 Release of Vested Shares. Upon
the vesting of all or a portion of the Unvested Shares, the Company
shall release to the Recipient the Vested Shares and all securities
and other property held in escrow with respect to the Unvested
Shares that have become Vested Shares.

 

 

4.4 Forfeiture of Unvested Shares.
Upon the termination of the Transaction Agreements, all Unvested
Shares, and any rights or claims attached thereto, securities, and
other property held in escrow from a distribution previously made
on account of the Unvested Shares, will be deemed immediately
forfeited by the Recipient to the Company.

 

 

4.5 Assignment. In the event of
forfeiture of the Unvested Shares, the Recipient hereby assigns,
transfers, and surrenders to the Company for cancellation the
Unvested Shares, and all related securities and other property held
in escrow with respect to such Unvested Shares, and hereby
irrevocably constitutes and appoints the Company’s secretary
as attorney to cancel such stock in the records of the Company with
full power of substitution in the premises.

 

 

 

ARTICLE
V TAX
PROVISIONS

 

 

5.1 Valuation of Common Stock. The
Recipient understands that the Company has valued the Shares at
$3.00 per share as of the Grant Date, which equals the fair market
value of one share of common stock as determined by the Company in
a manner consistent with Internal Revenue Code Section 409A.
Further, the valuation of the Shares at $3.00 per share is equal to
the price paid per share by third party investors in the
Company’s most recent private placement of common
stock.

 

 

5.2 Withholding. As a condition
precedent to the release of the Vested Shares from the escrow as
described in Article IV, the Recipient shall comply with the
requests of the Company as they relate to the satisfaction of any
federal, state, or local withholding tax obligations that arise in
connection with the release of the Vested Shares. Such requests may
include among others (a) the deduction of any such required
withholding from any payments due or to become due to the
Recipient, (b) the payment in cash by the Recipient to the Company
in an amount equal to any required withholding, and (c) signing
such documentation necessary to enable withholding of Shares to
satisfy tax obligations.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-31-

 

 

ARTICLE
VI GENERAL
PROVISIONS

 

 

 

6.1 Adjustments. The existence of
the Recipient’s rights under this Agreement does not affect
in any way the right or power of the Company or its shareholders to
make or authorize any or all adjustments, recapitalizations,
reorganizations or other changes in the Company’s capital
structure or its business, or any merger, consolidation, or share
exchange of the Company, or any issuance of bonds, debentures or
preferred or prior preference stock ahead of or affecting Common
Stock or the rights thereof, or dissolution or liquidation of the
Company, or any sale or transfer of all or any part of its assets
or business, or any other corporate act or proceeding, whether of a
similar character or otherwise.

 

 

6.2 Notices. To be effective, any
notice, consent, or communication required or permitted to be given
in connection with this Agreement must be in writing and (i)
delivered in person, (ii) mailed by certified or registered mail,
return receipt requested, postage prepaid, (iii) sent by same-day
messenger or nationally recognized overnight delivery service, with
all fees prepaid, or (iv) sent by fax, with a fax transmission
receipt, as follows:

 

 

If to the
Company:                                                

Super League
Gaming, Inc.

2912
Colorado Ave., Suite 200 Santa Monica, CA 90404 Attn: General
Counsel

 

If to the
Recipient:                                                

Riot Games,
Inc.

12333
West Olympic Blvd. Los Angeles, CA 90064 Attn: Legal
Department

Email:
legalnotices@riotgames.com

 

 

With
copy to:

Sean
Haran, sharan@riotgames.com

 

A party
may update the party’s contact information by providing
notice thereof to the other party. A notice, consent, or
communication is effective on the earlier of (i) the date it is
delivered in person, (ii) the date it is delivered to the address
required by this Agreement as indicated by the date of the
acknowledgment or signed receipt, (iii) the date delivery is
refused or deemed undeliverable at the address required by this
Agreement, as the U.S. Postal Service, messenger service, or
overnight courier, as the case may be, indicates through its
records, or (iv) with respect to a fax, the date on which the fax
is sent and receipt of which is confirmed, provided that if such
date is not a business day or the confirmation time as after 5:00
p.m. local time of the recipient on a business day, then the
following business day.

 

 

6.3 Entire Agreement. This
Agreement constitutes the entire and final agreement between the
parties as relates to the grant of the Shares. It is the complete
and exclusive expression of the parties’ agreement on the
matters contained in this Agreement. All prior and contemporaneous
negotiations, term sheets, and other agreements, either oral or in
writing, between the parties on the matters contained in this
Agreement are expressly merged into and

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-32-

 

 

superseded by this
Agreement.                                                                                

No provisions of
this Agreement may be explained, supplemented, or qualified through
evidence of trade usage or a prior course of dealings.

 

 

 

6.4 Amendments and Waivers. No
amendment, rescission, waiver, or termination of this Agreement or
any of its terms is effective, except by a writing signed by the
party or parties against whom enforcement is sought. No failure or
delay in exercising any right or remedy or requiring the
satisfaction of any condition under this Agreement, and no course
of dealing between the parties, operates as a waiver or estoppel of
any right, remedy, or condition. A waiver made in writing on one
occasion is effective only in that instance and only for the
purpose that it is given and is not to be construed as a waiver on
any future occasion or against any other person. To the extent any
course of dealing, act, omission, failure, or delay in exercising
any right or remedy under this Agreement constitutes the election
of an inconsistent right or remedy, that election does not either
constitute a waiver of any right or remedy or limit or prevent the
subsequent enforcement of any contract provision.

 

 

6.5 Headings. The descriptive
headings of the articles, sections, and subsections of this
Agreement are for convenience of reference only. They do not
constitute a part of this Agreement and do not affect this
Agreement’s construction or interpretation.

 

 

6.6 Assignability; Successors and
Assigns. The Recipient shall not assign this Agreement or
the rights and duties set forth herein, but the Company may assign
them, in whole or in part. This Agreement binds and benefits the
parties and their respective heirs, executors, administrators,
legal representatives, and permitted successors and
assigns.

 

 

6.7 Governing Law. The laws of the
State of California govern all matters arising out of or relating
to this Agreement, including, without limitation, its
interpretation, construction, performance, and enforcement, without
giving effect to such state’s conflicts of law principles or
rules of construction concerning the drafter hereof. Any reference
to a specific federal, state, or local statute or code includes (i)
any rules and regulations promulgated thereunder and (ii) any
subsequent amendment, restatement, supplement, or superseding
statute, code or other law as may be in effect at the particular
time. Any reference to an agreement includes such agreement as it
may be amended, restated, supplemented, or modified from time to
time.

 

 

6.8 Further Assurances. Each party
shall use reasonable efforts to take, or cause to be taken, all
actions necessary or desirable as requested to consummate and make
effective the transactions contemplated by this Agreement. If any
further action is necessary or desirable as requested to carry out
the purposes of this Agreement, each party shall use reasonable
efforts to take, or cause to be taken, such action.

 

 

6.9 Professional Advice. The
acceptance of this Agreement and the issuance of the Shares may
have consequences under federal and state tax and securities laws,
which may vary depending on the circumstances of the Recipient.
Accordingly, the Recipient acknowledges that it has consulted with
its legal and tax advisors in connection with this Agreement and
the acquisition, holding and disposition of the Shares. The
Recipient acknowledges that neither the Company nor any of its
officers, directors, attorneys, or agents has made any
representations as to the federal or state tax effects of the
acceptance of the Shares or any rights under this
Agreement.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-33-

 

 

6.10 Counterparts.
If the parties sign this Agreement in counterparts, each
counterpart constitutes an original, and all counterparts,
collectively, constitute only one agreement. The signatures of all
the parties need not appear on the same counterpart, and delivery
of a signed counterpart signature page by fax or other electronic
transmission is as effective as signing and delivering an
original.

 

 

 

[SIGNATURE PAGE FOLLOWS]

 

 

 

 

 

 

 

 

 

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-34-

 

 

IN
WITNESS
WHEREOF, this Agreement has
been executed
and is effective
as of the Grant Date.

 

 

SUPER LEAGUE GAMING, INC.

 

By: /s/
Ann Hand

Ann Hand CEO

 

 

RIOT GAMES, INC.

 

 

 

 

 

 

 

            

     By:
/s/ A.
Dylan Jadeja____

 

 

 

Name: A. Dylan Jadeja Its: Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE
TO RESTRICTED STOCK
AGREEMENT]

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-35-

 

 

EXHIBIT
B

 

 

COMMON
STOCK PURCHASE WARRANT

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-36-

 

 

THE
SECURITIES REPRESENTED BY THIS COMMON STOCK PURCHASE WARRANT HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE
STATE SECURITIES LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE,
PLEDGED OR HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF
A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SHARES UNDER
THE SECURITIES ACT OR AN EXEMPTION FROM THE SECURITIES ACT. ANY
SUCH TRANSFER MAY ALSO BE SUBJECT TO COMPLIANCE WITH APPLICABLE
STATE SECURITIES LAWS AND THE LAWS OF OTHER APPLICABLE
JURISDICTIONS.

 

 

COMMON
STOCK PURCHASE WARRANT

 

 

For the
Purchase of 500,000 Shares of Common Stock, $0.001 par value
of

 

 

SUPER LEAGUE GAMING, INC.

A
Delaware Corporation

 

 

For
value received, RIOT GAMES,
INC. (the “Holder”), or its assigns, is entitled
to, on or before the date specified below on which this Common
Stock Purchase Warrant (the “Warrant”) expires, but not
thereafter, to subscribe for, purchase and receive the number of
fully paid and non-assessable shares of the common stock, $0.001
par value (the “Common Stock”), of Super League Gaming,
Inc., a Delaware corporation (the “Company”) set forth
above, at a price per share equal to the purchase price in the next
(i.e., “Series C”) Common Stock financing transaction
(provided, however, that if such transaction is not closed within
60 days of the date of the License Agreement between Holder and the
Company, the exercise price shall be the purchase price in the last
Common Stock financing transaction prior to the date of the License
Agreement) in order to purchase and receive such securities) (the
“Exercise Price”), upon presentation and surrender of
this Warrant and upon payment by wire transfer or bank check of the
Exercise Price for such shares of Common Stock to the Company at
its principal office.

 

 

1. Vesting of Warrant.
The Warrant is subject to vesting as follows:

 

 

●

25% of the Warrant,
consisting of 125,000 shares of common stock, will vest upon the
Company realizing $5,000,000 of net revenue from League of Legends
events

 

 

●

35% of the Warrant,
consisting of 175,000 shares of common stock, will vest upon the
Company realizing an additional $10,000,000 of net revenue from
League of Legends events (i.e., $15,000,000 in total net
revenue)

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-37-

 

 

●

40% of the Warrant,
consisting of 200,000 shares of common stock, will vest upon the
Company realizing an additional $20,000,000 of net revenue from
League of Legends events (i.e., $35,000,000 in total net
revenue)

 

 

For
purposes of Section 1 of this Warrant, net revenue shall mean
“net revenue” as such term is defined in Section 12.1.1
of the License Agreement.

 

 

2. Exercise of Warrant. This
Warrant may be exercised in whole or in part, from time to time and
expressly subject to satisfaction of the vesting conditions set
forth in Section 1, commencing on the date hereof (the “Issue
Date”) and expiring on the fifth (5th) anniversary hereof, by
presentation and surrender hereof to the Company, with the Notice
of Exercise form annexed hereto as Appendix A duly executed and
accompanied by payment by wire transfer or bank check of the
Exercise Price for the number of shares specified in such form,
together with all federal and state taxes applicable upon such
exercise, if any. If this Warrant should be exercised in part only,
the Company shall, upon surrender of this Warrant for cancellation,
execute and deliver a new Warrant evidencing the right of the
Holder to purchase the balance of the shares purchasable hereunder.
Upon receipt by the Company of this Warrant and the Exercise Price
at the office of the Company, in proper form for exercise, the
Holder shall be deemed to be the holder of record of the shares of
Common Stock issuable upon such exercise, notwithstanding that
certificates representing such shares of Common Stock shall not
then be actually delivered to the Holder. If the subscription
rights represented hereby shall not be exercised at or before 5:00
P.M., Pacific Time, on the expiration date specified above, this
Warrant shall become void and without further force or effect, and
all rights represented hereby shall cease and expire.

 

 

3. Rights of the Holder. Prior to
exercise of this Warrant, the Holder shall not, by virtue hereof,
be entitled to any rights of a shareholder in the Company, either
at law or equity, and the rights of the Holder are limited to those
expressed in this Warrant and are not enforceable against the
Company except to the extent set forth herein.

 

4.

Adjustment in Number of
Shares.

 

 

 

(A) Adjustment for
Reclassifications. In case at any time, or from time to
time, after the Issue Date the holders of the Common Stock of the
Company (or any shares of stock or other securities at the time
receivable upon the exercise of this Warrant) shall have received,
or, on or after the record date fixed for the determination of
eligible stockholders, shall have become entitled to receive,
without payment therefore, other or additional stock or other
securities or property (including cash) by way of stock-split,
spinoff, reclassification, combination of shares or similar
corporate rearrangement (exclusive of any stock dividend of its or
any subsidiary’s capital stock), then and in each such case
the Holder(s) of this Warrant, upon the exercise hereof as provided
in Section 2, shall be entitled to receive the amount of stock and
other securities and property which such Holder(s) would hold on
the date of such exercise if on the Issue Date they had been the
holder of record of the number of shares of Common Stock of the
Company called for on the face of this Warrant and had thereafter,
during the period from the Issue Date, to and including the date of
such exercise, retained such shares and/or all other or additional
stock and other securities and property receivable by them as
aforesaid during such period, giving effect to

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-38-

 

 

all
adjustments called for during such period. In the event of a
declaration of a dividend payable in shares of any equity security
of a subsidiary of the Company, then the Company may cause to be
issued a warrant to purchase shares of the subsidiary
(“Springing Warrant”) in an amount equal to such number
of shares of the subsidiary’s securities to which the Holders
would have been entitled, but conditioned upon the exercise of this
Warrant as a prerequisite to receiving the shares issuable pursuant
to the Springing Warrant.

 

 

 

(B) Adjustment for Reorganization,
Consolidation, Merger. In case of any reorganization of the
Company (or any other corporation the stock or other securities of
which are at the time receivable on the exercise of this Warrant)
after the Issue Date, or in case, after such date, the Company (or
any such other corporation) shall consolidate with or merge into
another corporation or convey all or substantially all of its
assets to another corporation, then and in each such case the
Holder(s) of this Warrant, upon the exercise hereof as provided in
Section 1, at any time after the consummation of such
reorganization, consolidation, merger or conveyance, shall be
entitled to receive, in lieu of the stock or other securities and
property receivable upon the exercise of this Warrant prior to such
consummation, the stock or other securities or property to which
such Holder(s) would be entitled had the Holders exercised this
Warrant immediately prior thereto, all subject to further
adjustment as provided herein; in each such case, the terms of this
Warrant shall be applicable to the shares of stock or other
securities or property receivable upon the exercise of this Warrant
after such consummation.

 

 

5. Officer’s Certificate.
Whenever the number of shares of Common Stock issuable upon
exercise of this Warrant or the Exercise Price shall be adjusted as
required by the provisions hereof, the Company shall forthwith file
in the custody of its Secretary at its principal office, an
officer’s certificate showing the adjusted number of shares
of Common Stock or Exercise Price determined as herein provided and
setting forth in reasonable detail the facts requiring such
adjustment. Each such officer’s certificate shall be made
available at all reasonable times for inspection by the Holder(s)
and the Company shall, forthwith after each such adjustment,
deliver a copy of such certificate to the Holder(s). Such
certificate shall be conclusive as to the correctness of such
adjustment.

 

 

6. Restrictions on Transfer.
Certificates for the shares of Common Stock to be issued upon
exercise of this Warrant shall bear the following
legend:

 

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES
LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR
HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A
REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SHARES UNDER
THE SECURITIES ACT OR AN EXEMPTION FROM THE SECURITIES ACT. ANY
SUCH TRANSFER MAY ALSO BE SUBJECT TO COMPLIANCE WITH APPLICABLE
STATE SECURITIES LAWS AND THE LAWS OF OTHER APPLICABLE
JURISDICTIONS.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-39-

 

 

The
Holder, by acceptance hereof, agrees that, absent an effective
registration statement under the Securities Act of 1933, as amended
(the “Act”), covering the disposition of this Warrant
or the Common Stock issued or issuable upon exercise hereof, such
Holder(s) will not sell or transfer any or all of this Warrant or
such Common Stock without first providing the Company with an
opinion of counsel reasonably satisfactory to the Company to the
effect that such sale or transfer will be exempt from the
registration and prospectus delivery requirements of the Act. The
Holder agrees that the certificates evidencing the Warrant and
Common Stock which will be delivered to the Holder by the Company
shall bear substantially the following legend: The Holder of this
Warrant, at the time all or a portion of such Warrant is exercised,
agrees to make such written representations to the Company as
counsel for the Company may reasonably request, in order that the
Company may be reasonably satisfied that such exercise of the
Warrant and consequent issuance of Common Shares will not violate
the registration and prospectus delivery requirements of the Act,
or other applicable state securities laws.

 

 

7. Loss or Mutilation. Upon
receipt by the Company of evidence satisfactory to it (in the
exercise of reasonable discretion) of the ownership of and the
loss, theft, destruction or mutilation of any Warrant and (in the
case of loss, theft or destruction) of indemnity satisfactory to it
(in the exercise of reasonable discretion), and (in the case of
mutilation) upon surrender and cancellation thereof, the Company
will execute and deliver in lieu thereof a new Warrant of like
tenor.

 

 

8. Reservation of Common Stock.
The Company shall at all times reserve and keep available for issue
upon the exercise of the Warrants such number of its authorized but
unissued shares of Common Stock as will be sufficient to permit the
exercise in full of all outstanding Warrants.

 

 

 

9. Notices. All notices and other
communications from the Company to the Holder of this Warrant shall
be mailed by first class registered or certified mail, postage
prepaid, to the address furnished to the Company in writing by the
Holder.

 

 

10. Change; Waiver. Neither this
Warrant nor any term hereof may be changed, waived, discharged or
terminated orally but only by an instrument in writing signed by
the party against which enforcement of the change, waiver,
discharge or termination is sought.

 

 

 

12.
Law Governing. This
Warrant shall be construed and enforced in accordance with and
governed by the laws of Delaware.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-40-

 

 

 

 

 

 

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be signed
by its duly authorized officer on June 22, 2016.

 

 

SUPER
LEAGUE GAMING, INC.

 

 

By: 

/s/ Ann Hand 

Ann
Hand

Chief
Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE TO
COMMON STOCK PURCHASE WARRANT]

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-41-

 

 

APPENDIX A NOTICE
OF EXERCISE

 

 

 

TO:            

SUPER LEAGUE
GAMING,
INC.                                                                                                                                 

DATE:

 

 

 

The
undersigned hereby elects irrevocably to exercise the within
Warrant and to purchase

                            

 shares of the
Common Stock of the Company called for thereby, and hereby makes
payment by bank check or wire transfer in the amount of
$.

 

 

 

 

Please
issue the shares of the Common Stock as to which this Warrant is
exercised to:

 

 

 

 

 

 

 

 

 

 

 

 

and if
said number of Warrants shall not be all the Warrants evidenced by
the Common Stock Purchase Warrant surrendered in connection with
this exercise, then the Company shall issue a new Warrant
Certificate for the balance remaining of such Warrants
to

                                       

 at the
address stated above.

 

 

 

By:                                                                 

 

 

 

Print
Name:                                                                 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-42-

 

 

          EXHIBIT
C

 

  REGISTRATION RIGHTS AGREEMENT

                              [attached]

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-43-

 

 

 

REGISTRATION
RIGHTS AGREEMENT

 

 

THIS
REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is
dated June 22, 2016 by and between Super League Gaming, Inc., a
Delaware corporation (the “Company”), and Riot Games,
Inc. (the “Licensor”).

 

RECITALS

 

WHEREAS, the
Company has agreed to provide certain registration rights to
Licensor under the Securities Act of 1933, as amended, and the
rules and regulations thereunder, or any similar successor statute
(collectively, the “Securities Act”), and applicable
state securities laws.

 

 

NOW,
THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company and the Licensor hereby agree as
follows:

 

 

AGREEMENT

 

 

1.

DEFINITIONS.

 

 

As used
in this Agreement, the following terms shall have the following
meanings:

 

 

a. “Person”
means a corporation, a limited liability company, an association, a
partnership, an organization, a business, an individual, a
governmental or political subdivision thereof or a governmental
agency.

 

 

b. “Register,”
“registered,” and “registration” refer to a
registration effected by preparing and filing one or more
Registration Statements (as defined below) in compliance with the
Securities Act and pursuant to Rule 415 under the Securities Act or
any successor rule providing for offering securities on a
continuous or delayed basis (“Rule 415”), and the
declaration or ordering of effectiveness of such Registration
Statement(s) by the United States Securities and Exchange
Commission (the “SEC”).

 

 

c. “Registrable
Securities” means the Shares issued to Licensor pursuant to a
Restricted Stock Agreement and a Common Stock Purchase Warrant,
subject to the vesting conditions set forth in each of the
foregoing agreements.

 

 

d. “Registration
Statement” means a registration statement filed with the SEC,
pursuant to the Securities Act, that covers the Registrable
Securities.

 

 

2.

REGISTRATION.

 

 

a. Piggyback
Registration Rights. Licensor shall be afforded unlimited piggyback
registration rights with respect to the Securities (including, for
the avoidance of doubt, piggyback registration rights with respect
to any demand registrations). The Company shall notify the Licensor
in writing no less than fifteen (15) calendar days prior to the
filing of any Registration Statement on Form S- 1 or S-3 of its
intention to file such registration statement with the Securities
and Exchange Commission. The Licensor shall have a period of ten
(10) calendar days to notify the Company of its intention to have
its Registrable Securities included in such Registration
Statement.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-44-

 

 

b. Sufficient Number
of Shares Registered. The number of shares of common stock
available under the Registration Statement filed pursuant to
Section 2(a) shall be sufficient to cover all of the Registrable
Securities that the Licensor has been issued pursuant to the
Offering.

 

 

 

3.

RELATED
OBLIGATIONS.

 

 

a. The Company shall
keep the Registration Statement effective pursuant to Rule 415 at
all times until the date on which the Licensor shall have sold all
the Registrable Securities covered by such Registration Statement
(the “Registration Period”), which Registration
Statement (including any amendments or supplements thereto and
prospectuses contained therein) shall not contain any untrue
statement of a material fact or omit to a material fact required to
be stated therein, or necessary to make the statements therein, in
light of the circumstances in which they were made, not
misleading.

 

 

b. The Company shall
prepare and file with the SEC such amendments (including
post-effective amendments) and supplements to a Registration
Statement and the prospectus used in connection with such
Registration Statement, which prospectus is to be filed pursuant to
Rule 424 promulgated under the Securities Act, as may be necessary
to keep such Registration Statement effective at all times during
the Registration Period, and, during such period, comply with the
provisions of the Securities Act with respect to the disposition of
all Registrable Securities of the Company covered by such
Registration Statement until such time as all of such Registrable
Securities shall have been disposed of in accordance with the
intended methods of disposition by the seller or sellers thereof as
set forth in such Registration Statement. In the case of amendments
and supplements to a Registration Statement which are required to
be filed pursuant to this Agreement (including pursuant to this
Section 3(b)) by reason of the Company’s filing a report on
Form 10-K, Form 10-Q or Form 8-K or any analogous report under the
Securities Exchange Act of 1934, as amended (the “Exchange
Act”), the Company shall have incorporated such report by
reference into the Registration Statement, if applicable, or shall
file such amendments or supplements with the SEC on the same day on
which the Exchange Act report is filed which created the
requirement for the Company to amend or supplement the Registration
Statement.

 

 

 

c. The Company shall
furnish to the Licensor without charge, (i) at least one (1) copy
of such Registration Statement as declared effective by the SEC and
any amendment(s) thereto, including financial statements and
schedules, all documents incorporated therein by reference, all
exhibits and each preliminary prospectus, (ii) one (1) copy of the
final prospectus included in such Registration Statement and all
amendments and supplements thereto (or such other number of copies
as Licensor may reasonably request) and (iii) such other documents
as Licensor may reasonably request from time to time in order to
facilitate the disposition of the Registrable Securities owned by
Licensor.

 

 

d. The Company shall
use its best efforts to (i) register and qualify the Registrable
Securities covered by a Registration Statement under such other
securities or “blue sky” laws of such jurisdictions in
the United States as the Licensor reasonably requests, (ii) prepare
and file in those jurisdictions, such amendments (including
post-effective amendments) and supplements to such registrations
and qualifications as may be necessary to maintain the
effectiveness thereof during the Registration Period, (iii) take
such other actions as may be necessary to maintain such
registrations and qualifications in effect at all times during the
Registration Period, and (iv) take all other actions reasonably
necessary or advisable to qualify the Registrable Securities for
sale in such jurisdictions; provided, however, that the Company
shall not be required in connection therewith or as a condition
thereto to (w) make any change to its certificate of incorporation
or by-laws, (x) qualify to do business in any jurisdiction where it
would not otherwise be required to qualify but for this Section
3(d), (y) subject itself to general taxation in any such
jurisdiction, or (z) file a general consent to service of process
in any such jurisdiction. The Company shall promptly notify the
Licensor of the receipt by the Company of any notification with
respect to the suspension of the registration or qualification of
any of the Registrable

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-45-

 

 

Securities for sale
under the securities or “blue sky” laws of any
jurisdiction in the United States or its receipt of actual notice
of the initiation or threat of any proceeding for such
purpose.

 

 

 

e. As promptly as
practicable after becoming aware of such event or development, the
Company shall notify the Licensor in writing of the happening of
any event as a result of which the prospectus included in a
Registration Statement, as then in effect, includes an untrue
statement of a material fact or omission to state a material fact
required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made,
not misleading (provided that in no event shall such notice contain
any material, nonpublic information), and promptly prepare a
supplement or amendment to such Registration Statement to correct
such untrue statement or omission, and deliver one (1) copy of such
supplement or amendment to Licensor. The Company shall also
promptly notify the Licensor in writing (i) when a prospectus or
any prospectus supplement or post- effective amendment has been
filed, and when a Registration Statement or any post-effective
amendment has become effective (notification of such effectiveness
shall be delivered to the Licensor by facsimile on the same day of
such effectiveness), (ii) of any request by the SEC for amendments
or supplements to a Registration Statement or related prospectus or
related information, and (iii) of the Company’s reasonable
determination that a post-effective amendment to a Registration
Statement would be appropriate.

 

 

f. The Company shall
use its best efforts to prevent the issuance of any stop order or
other suspension of effectiveness of a Registration Statement, or
the suspension of the qualification of any of the Registrable
Securities for sale in any jurisdiction within the United States of
America and, if such an order or suspension is issued, to obtain
the withdrawal of such order or suspension at the earliest possible
moment and to notify the Licensor of the issuance of such order and
the resolution thereof or its receipt of actual notice of the
initiation or threat of any proceeding for such
purpose.

 

 

g. At the reasonable
request of the Licensor, the Company shall furnish to the Licensor,
on the date of the effectiveness of the Registration Statement and
thereafter from time to time on such dates as the Licensor may
reasonably request (i) a letter, dated such date, from the
Company’s independent certified public accountants in form
and substance as is customarily given by independent certified
public accountants to underwriters in an underwritten public
offering, if any, and (ii) an opinion, dated as of such date, of
counsel representing the Company for purposes of such Registration
Statement, in form, scope and substance as is customarily given in
an underwritten public offering (if applicable), addressed to the
Licensor.

 

 

 

h. The Company shall
hold in confidence and not make any disclosure of information
concerning the Licensor provided to the Company unless (i)
disclosure of such information is necessary to comply with federal
or state securities laws, (ii) the disclosure of such information
is necessary to avoid or correct a misstatement or omission in any
Registration Statement, (iii) the release of such information is
ordered pursuant to a subpoena or other final, non-appealable order
from a court or governmental body of competent jurisdiction, or
(iv) such information has been made generally available to the
public other than by disclosure in violation of this Agreement or
any other agreement. The Company agrees that it shall, upon
learning that disclosure of such information concerning the
Licensor is sought in or by a court or governmental body of
competent jurisdiction or through other means, give prompt written
notice to the Licensor and allow the Licensor, at the
Licensor’s expense, to undertake appropriate action to
prevent disclosure of, or to obtain a protective order for, such
information.

 

 

 

i. The Company shall
use its best efforts either to cause all the Registrable Securities
covered by a Registration Statement (i) to be listed on each
securities exchange on which securities of the same class or series
issued by the Company are then listed, if any, if the listing of
such Registrable Securities is then permitted under the rules of
such exchange or to secure the inclusion for

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-46-

 

 

quotation on a
national securities exchange for such Registrable Securities. The
Company shall pay all fees and expenses in connection with
satisfying its obligation under this Section 3(i).

 

 

 

j. The Company shall
cooperate with the Licensor to the extent applicable, to facilitate
the timely preparation and delivery of certificates (not bearing
any restrictive legend) representing the Registrable Securities to
be offered pursuant to a Registration Statement and enable such
certificates to be in such denominations or amounts, as the case
may be, as the Licensor may reasonably request and registered in
such names as the Licensor may request; provided, however, delivery
of such certificates shall not be made until such Registration
Statement is declared effective by the SEC and all applicable state
securities regulatory agencies.

 

 

k. The Company shall
use its best efforts to cause the Registrable Securities covered by
the applicable Registration Statement to be registered with or
approved by such other governmental agencies or authorities as may
be necessary to consummate the disposition of such Registrable
Securities.

 

 

l. The Company shall
otherwise use its best efforts to comply with all applicable rules
and regulations of the SEC in connection with any registration
hereunder.

 

 

 

m. Within two (2)
business days after a Registration Statement which covers
Registrable Securities is ordered effective by the SEC, the Company
shall deliver, and shall cause legal counsel for the Company to
deliver, to the transfer agent for such Registrable Securities
(with copies to the Licensor) confirmation that such Registration
Statement has been declared effective by the SEC in the form
attached hereto as Exhibit 1.

 

 

 

n. The Company shall
take all other reasonable actions necessary to expedite and
facilitate disposition by the Licensor of Registrable Securities
pursuant to a Registration Statement.

 

 

4.

OBLIGATIONS OF THE
LICENSOR.

 

 

The
Licensor agrees that, upon receipt of any notice from the Company
of the happening of any event of the kind described in Section 3(f)
or the first sentence of 3(e), the Licensor will immediately
discontinue disposition of Registrable Securities pursuant to any
Registration Statement(s) covering such Registrable Securities
until the Licensor’s receipt of a copy of the supplemented or
amended prospectus contemplated by Section 3(e) or receipt of
notice that no supplement or amendment is required. Notwithstanding
anything to the contrary, the Company shall cause its transfer
agent to deliver unlegended certificates for shares of Common Stock
to a transferee of the Licensor in accordance with the terms of the
Offering in connection with any sale of Registrable Securities with
respect to which the Licensor has entered into a contract for sale
prior to the Licensor’s receipt of a notice from the Company
of the happening of any event of the kind described in Section 3(f)
or the first sentence of 3(e) and for which the Licensor has not
yet settled. All selling expenses relating to the Registrable
Securities shall be borne exclusively by the Licensor.

 

 

 

5.

EXPENSES OF
REGISTRATION.

 

 

All
expenses incurred in connection with registrations, filings or
qualifications pursuant to Sections 2 and 3, including, without
limitation, all registration, listing and qualifications fees,
printers, legal and accounting fees shall be paid by the
Company.

 

 

6.

INDEMNIFICATION.

 

 

With
respect to Registrable Securities which are included in a
Registration Statement under this

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-47-

 

 

Agreement:

 

 

a. To the fullest
extent permitted by law, the Company will, and hereby does,
indemnify, hold harmless and defend the Licensor, the directors,
officers, partners, employees, agents, representatives of, and each
Person, if any, who controls the Licensor within the meaning of the
Securities Act or the Exchange Act (each, an “Indemnified
Person”), against any losses, claims, damages, liabilities,
judgments, fines, penalties, charges, costs, reasonable
attorneys’ fees, amounts paid in settlement or expenses,
joint or several (collectively, “Claims”) incurred in
investigating, preparing or defending any action, claim, suit,
inquiry, proceeding, investigation or appeal taken from the
foregoing by or before any court or governmental, administrative or
other regulatory agency, body or the SEC, whether pending or
threatened, whether or not an indemnified party is or may be a
party thereto (“Indemnified Damages”), to which any of
them may become subject insofar as such Claims (or actions or
proceedings, whether commenced or threatened, in respect thereof)
arise out of or are based upon: (i) any untrue statement or alleged
untrue statement of a material fact in a Registration Statement or
any post-effective amendment thereto or in any filing made in
connection with the qualification of the offering under the
securities or other “blue sky” laws of any jurisdiction
in which Registrable Securities are offered (“Blue Sky
Filings”), or the omission or alleged omission to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; (ii) any untrue statement or
alleged untrue statement of a material fact contained in any final
prospectus (as amended or supplemented, if the Company files any
amendment thereof or supplement thereto with the SEC) or the
omission or alleged omission to state therein any material fact
necessary to make the statements made therein, in light of the
circumstances under which the statements therein were made, not
misleading; or (iii) any violation or alleged violation by the
Company of the Securities Act, the Exchange Act, any other law,
including, without limitation, any state securities law, or any
rule or regulation there under relating to the offer or sale of the
Registrable Securities pursuant to a Registration Statement (the
matters in the foregoing clauses (i) through (iii) being,
collectively, “Violations”). The Company shall
reimburse the Licensor and each such controlling person promptly as
such expenses are incurred and are due and payable, for any legal
fees or disbursements or other reasonable expenses incurred by them
in connection with investigating or defending any such Claims.
Notwithstanding anything to the contrary contained herein, the
indemnification agreement contained in this Section 6(a): (x) shall
not apply to a Claim by an Indemnified Person arising out of or
based upon a Violation which occurs in reliance upon and in
conformity with information furnished in writing to the Company by
such Indemnified Person expressly for use in connection with the
preparation of the Registration Statement or any such amendment
thereof or supplement thereto; (y) shall not be available to the
extent such Claim is based on a failure of the Licensor to deliver
or to cause to be delivered the prospectus made available by the
Company, if such prospectus was timely made available by the
Company pursuant to Section 3(e); and (z) shall not apply to
amounts paid in settlement of any Claim if such settlement is
effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld. Such indemnity shall
remain in full force and effect regardless of any investigation
made by or on behalf of the Indemnified Person. In connection with
a Registration Statement, the Licensor agrees to indemnify, hold
harmless and defend, to the same extent and in the same manner as
is set forth in this Section 6(a), the Company, each of its
directors, each of its officers who signs the Registration
Statement and each Person, if any, who controls the Company within
the meaning of the Securities Act or the Exchange Act (each an
“Indemnified Party”), against any Claim or Indemnified
Damages to which any of them may become subject, under the
Securities Act, the Exchange Act or otherwise, insofar as such
Claim or Indemnified Damages arise out of or is based upon any
Violation, in each case to the extent, and only to the extent, that
such Violation occurs in reliance upon and in conformity with
written information furnished to the Company by the Licensor
expressly for use in connection with such Registration Statement;
and, subject to Section 6(d), the Licensor will reimburse any legal
or other expenses reasonably incurred by them in connection with
investigating or defending any such Claim; provided, however, that
the indemnity agreement contained in this Section 6(b) and the
agreement with respect to contribution contained in Section 7 shall
not apply to amounts paid in

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-48-

 

 

settlement of any
Claim if such settlement is effected without the prior written
consent of the Licensor, which consent shall not be unreasonably
withheld; provided, further, however, that the Licensor shall be
liable under this Section 6(b) for only that amount of a Claim or
Indemnified Damages as does not exceed the net proceeds to the
Licensor as a result of the sale of Registrable Securities pursuant
to such Registration Statement. Such indemnity shall remain in full
force and effect regardless of any investigation made by or on
behalf of such Indemnified Party. Notwithstanding anything to the
contrary contained herein, the indemnification agreement contained
in this Section 6 with respect to any prospectus shall not inure to
the benefit of any Indemnified Party if the untrue statement or
omission of material fact contained in the prospectus was corrected
and such new prospectus was delivered to the Licensor prior to the
Licensor’s use of the prospectus to which the Claim
relates.

 

 

b. Promptly after
receipt by an Indemnified Person or Indemnified Party under this
Section 6 of notice of the commencement of any action or proceeding
(including any governmental action or proceeding) involving a
Claim, such Indemnified Person or Indemnified Party shall, if a
Claim in respect thereof is to be made against any indemnifying
party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof, and the indemnifying
party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other
indemnifying party similarly noticed, to assume control of the
defense thereof with counsel mutually satisfactory to the
indemnifying party and the Indemnified Person or the Indemnified
Party, as the case may be; provided, however, that an Indemnified
Person or Indemnified Party shall have the right to retain its own
counsel with the fees and expenses of not more than one counsel for
such Indemnified Person or Indemnified Party to be paid by the
indemnifying party, if, in the reasonable opinion of counsel
retained by the indemnifying party, the representation by such
counsel of the Indemnified Person or Indemnified Party and the
indemnifying party would be inappropriate due to actual or
potential differing interests between such Indemnified Person or
Indemnified Party and any other party represented by such counsel
in such proceeding. The Indemnified Party or Indemnified Person
shall cooperate fully with the indemnifying party in connection
with any negotiation or defense of any such action or claim by the
indemnifying party and shall furnish to the indemnifying party all
information reasonably available to the Indemnified Party or
Indemnified Person that relates to such action or claim. The
indemnifying party shall keep the Indemnified Party or Indemnified
Person fully apprised at all times as to the status of the defense
or any settlement negotiations with respect thereto. No
indemnifying party shall be liable for any settlement of any
action, claim or proceeding effected without its prior written
consent, provided, however, that the indemnifying party shall not
unreasonably withhold, delay or condition its consent. No
indemnifying party shall, without the prior written consent of the
Indemnified Party or Indemnified Person, consent to entry of any
judgment or enter into any settlement or other compromise which
does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such Indemnified Party or Indemnified
Person of a release from all liability in respect to such claim or
litigation. Following indemnification as provided for hereunder,
the indemnifying party shall be subrogated to all rights of the
Indemnified Party or Indemnified Person with respect to all third
parties, firms or corporations relating to the matter for which
indemnification has been made. The failure to deliver written
notice to the indemnifying party within a reasonable time of the
commencement of any such action shall not relieve such indemnifying
party of any liability to the Indemnified Person or Indemnified
Party under this Section 6, except to the extent that the
indemnifying party is prejudiced in its ability to defend such
action.

 

 

c. The indemnification
required by this Section 6 shall be made by periodic payments of
the amount thereof during the course of the investigation or
defense, as and when bills are received or Indemnified Damages are
incurred.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-49-

 

 

d. The indemnity
agreements contained herein shall be in addition to (i) any cause
of action or similar right of the Indemnified Party or Indemnified
Person against the indemnifying party or others, and (ii) any
liabilities the indemnifying party may be subject to pursuant to
the law.

 

 

 

7.

CONTRIBUTION.

 

 

To the
extent any indemnification by an indemnifying party is prohibited
or limited by law, the indemnifying party agrees to make the
maximum contribution with respect to any amounts for which it would
otherwise be liable under Section 6 to the fullest extent permitted
by law; provided, however, that: (i) no seller of Registrable
Securities guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled
to contribution from any seller of Registrable Securities who was
not guilty of fraudulent misrepresentation; and (ii) contribution
by any seller of Registrable Securities shall be limited in amount
to the net amount of proceeds received by such seller from the sale
of such Registrable Securities.

 

 

8.

REPORTS UNDER THE
EXCHANGE ACT.

 

 

 

With a
view to making available to the Licensor the benefits of Rule 144
promulgated under the Securities Act or any similar rule or
regulation of the SEC that may at any time permit the Licensor to
sell securities of the Company to the public without registration
(“Rule 144”) the Company agrees, upon becoming a
publicly reporting company under the Securities Exchange Act of
1934, as amended (the “Exchange Act”), to:

 

 

 

a. make and keep
public information available (from the date the Company becomes
subject to the periodic reporting requirements of the Exchange
Act), as those terms are understood and defined in Rule
144;

 

 

b. file with the SEC
in a timely manner all reports and other documents required of the
Company under the Securities Act and the Exchange Act so long as
the Company remains subject to such requirements (it being
understood that nothing herein shall limit the Company’s
obligations under Section 6 hereof) and the filing of such reports
and other documents is required for the applicable provisions of
Rule 144; and

 

 

c. furnish to the
Licensor, so long as the Licensor owns Registrable Securities,
promptly upon request, (i) a written statement by the Company that
it has complied with the reporting requirements of Rule 144, the
Securities Act and the Exchange Act, (ii) a copy of the most recent
annual or quarterly report of the Company and such other reports
and documents so filed by the Company, and

(iii)
such other information as may be reasonably requested to permit the
Licensor to sell such securities pursuant to Rule 144 without
registration.

 

9.

AMENDMENT OF
REGISTRATION RIGHTS.

 

 

Provisions of this
Agreement may be amended and the observance thereof may be waived
(either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of
the Company and the Licensor. Any amendment or waiver effected in
accordance with this Section 9 shall be binding upon the Licensor
and the Company. No consideration shall be offered or paid to any
Person to amend or consent to a waiver or modification of any
provision of any of this Agreement unless the same consideration
also is offered to all of the parties to this
Agreement.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-50-

 

 

10.

MISCELLANEOUS.

 

 

a. A Person is deemed
to be a holder of Registrable Securities whenever such Person owns
or is deemed to own of record such Registrable Securities. If the
Company receives conflicting instructions, notices or elections
from two or more Persons with respect to the same Registrable
Securities, the Company shall act upon the basis of instructions,
notice or election received from the registered owner of such
Registrable Securities.

 

 

b. Any notices,
consents, waivers or other communications required or permitted to
be given under the terms of this Agreement must be in writing and
will be deemed to have been delivered:

 

(i)
upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of transmission is
mechanically or electronically generated and kept on file by the
sending party); or (iii) one business day after deposit with a
nationally recognized overnight delivery service, in each case
properly addressed to the party to receive the same. The addresses
and facsimile numbers for such communications shall
be:

 

 

 

If to the Company,
to:                                                            

Super League
Gaming, Inc.

2912
Colorado Ave., Suite 200 Santa Monica, CA 90404 Attn: General
Counsel

 

 

 

If to the Licensor,
to:                                                  

Riot Games,
Inc.

   12333
West Olympic Blvd.

   Los
Angeles, CA 90064

   Attn:
Legal Department

Email: legalnotices@riotgames.com

 

 

With copy to:

Sean Haran, sharan@riotgames.com

 

 

 

Any
party may change its address by providing written notice to the
other parties hereto at least five (5) days prior to the effective
date of such change. Written confirmation of receipt (A) given by
the recipient of such notice, consent, waiver or other
communication, (B) mechanically or electronically generated by the
sender’s facsimile machine containing the time, date,
recipient facsimile number and an image of the first page of such
transmission, or (C) provided by a courier or overnight courier
service shall be rebuttable evidence of personal service, receipt
by facsimile or receipt from a nationally recognized overnight
delivery service in accordance with clause (i), (ii) or (iii)
above, respectively.

 

 

c. Failure of any
party to exercise any right or remedy under this Agreement or
otherwise, or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

 

 

d. This Agreement
shall be governed by and construed under the law of the State of
California, disregarding any principles of conflicts of law that
would otherwise provide for the application of the substantive law
of another jurisdiction. The Company and the Licensor each: (a)
agrees that any legal suit, action or proceeding arising out of or
relating to this Agreement shall be instituted exclusively in
California, or in the United States District Court, Los Angeles,
California; (b) waives any objection to the venue of any such suit,
action or proceeding and the right to assert that such forum is not
a convenient forum; and (c) irrevocably consents to the
jurisdiction of the California State Court, or the United States
District Court, Los Angeles, California in any such suit, action or
proceeding. EACH PARTY HEREBY

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-51-

 

 

IRREVOCABLY WAIVES
ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR
THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH
OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED
HEREBY.

 

 

e. The Agreement and
the Subscription Agreement constitute the entire agreement among
the parties hereto with respect to the subject matter hereof and
thereof. The foregoing agreements supersede all prior agreements
and understandings among the parties hereto with respect to the
subject matter hereof and thereof.

 

 

f. This Agreement
shall inure to the benefit of and be binding upon the permitted
heirs, personal representatives, successors and assigns of each of
the parties hereto.

 

 

g. The headings in
this Agreement are for convenience of reference only and shall not
limit or otherwise affect the meaning hereof.

 

 

h. This Agreement may
be executed in identical counterparts, each of which shall be
deemed an original but all of which shall constitute one and the
same agreement. This Agreement, once executed by a party, may be
delivered to the other party hereto by facsimile transmission of a
copy of this Agreement bearing the signature of the party so
delivering this Agreement.

 

 

i. Each party shall do
and perform, or cause to be done and performed, all such further
acts and things, and shall execute and deliver all such other
agreements, certificates, instruments and documents, as the other
party may reasonably request in order to carry out the intent and
accomplish the purposes of this Agreement and the consummation of
the transactions contemplated hereby.

 

 

j. The language used
in this Agreement will be deemed to be the language chosen by the
parties to express their mutual intent and no rules of strict
construction will be applied against any party.

 

 

k. This Agreement is
intended for the benefit of the parties hereto and their respective
permitted heirs, personal representatives, successors and assigns,
and is not for the benefit of, nor may any provision hereof be
enforced by any other Person.

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-52-

 

 

 

 

 

 

 

IN
WITNESS WHEREOF, the parties have caused this Registration Rights
Agreement to be duly executed as of the date first written
above.

 

 

SUPER
LEAGUE GAMING, INC.,

 

 

 

         By:
/s/ Ann
Hand

 

    Name: Ann Hand

 

    Title: Chief
Executive Officer LICENSOR

 

                        By:
/s/ A. Dylan
Jadeja

 

           Title:
Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-53-

 

 

          EXHIBIT
1

 

 

 

FORM
OF NOTICE OF EFFECTIVENESS OF REGISTRATION STATEMENT

 

 

 

[TRANSFER
AGENT]

Attn:                                            

 

 

 

Re:            

SUPER LEAGUE
GAMING, INC.

 

 

Ladies
and Gentlemen:

 

 

We are
counsel to Super League Gaming, Inc., a Delaware corporation (the
“Company”), and have represented the Company in
connection with that certain private placement of shares of common
stock (the “Offering”), pursuant to which the Company
issued to   

                       

 (the
“Licensor”) shares of its common stock, $0.001 par
value (the “Common Stock”). Pursuant to the Offering,
the Company also has entered into a Registration Rights Agreement
with the Licensor (the “Registration Rights Agreement”)
pursuant to which the Company agreed, among other things, to
register the Registrable Securities (as defined in the Registration
Rights Agreement) under the Securities Act of 1933, as amended (the
“Securities Act”). In connection with the
Company’s obligations under the Registration Rights
Agreement, on, the Company filed a Registration Statement on
Form(File No. 333- ) (the
“Registration Statement”) with the Securities and
Exchange Commission (the “SEC”) relating to the
Registrable Securities which names the Licensor as a selling
stockholder thereunder.

 

 

In
connection with the foregoing, we advise you that a member of the
SEC’s staff has advised us by telephone that the SEC has
entered an order declaring the Registration Statement effective
under the Securities Act at [ENTER
TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS] and we
have no knowledge, after telephonic inquiry of a member of the
SEC’s staff, that any stop order suspending its effectiveness
has been issued or that any proceedings for that purpose are
pending before, or threatened by, the SEC and the Registrable
Securities are available for resale under the Securities Act
pursuant to the Registration Statement.

 

 

 

Very
truly yours,

 

SUPER
LEAGUE GAMING, INC.

 

 

 

By:                                                                 

Name:
Title:

 

 

 

cc:            

Licensor

 

 

*****SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-54-Blueprint

  Exhibit
10.8

 

AMENDED
AND RESTATED LICENSE AGREEMENT

 

 

This
Amended and Restated License Agreement (“Agreement”)
between Mojang AB and Super League Gaming, Inc. is made and entered
into as of September 12, 2017

 

 

 

RECITALS

 

 

WHEREAS, Mojang and
SLG entered into, and now wish to amend and restate that certain
License Agreement made as of August 1, 2016 (“Original
Agreement”);

 

 

NOW
THEREFORE, in consideration of the mutual promises contained in
this Agreement and for other good and valuable consideration, the
adequacy and sufficiency of which are hereby acknowledged, the
parties agree as follows:

 

 

 

AMENDMENT AND RESTATEMENT
OF THE LICENSE AGREEMENT DATED AUGUST 1, 2016

 

 

 

1.

PARTIES

 

 

1.1

The parties to this
Amended and Restated License Agreement (the “Agreement”) made as of September
12, 2017 (“Amended
Effective Date”)
are:

 

 

 

1.1.0

Mojang AB, a
company with its principal place of business at Maria Skolgata 83
BV SE-118 53, Stockholm, Sweden (“Mojang”); and

 

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-1-

 

 

 

1.1.1

Super League
Gaming, Inc. (“SLG”) a Delaware corporation
located at 2906 Colorado Ave., Santa Monica, CA 90404.

 

 

1.2

SLG and Mojang
shall each be a “Party” and collectively shall be
the “Parties” to
this Agreement.

 

 

2.

RECITALS

 

 

2.1

Mojang owns and
publishes Minecraft, a
globally popular sandbox game that among other things enables
players to build constructions out of textured cubes in a 3D
procedurally generated world.

 

 

2.2

SLG operates
recreational leagues for gamers of all ages to compete, socialize
and play video games in movie theatres.

 

 

2.3

SLG desires a
license from Mojang with respect to the use of Minecraft IP in a game league played
within the Territory.

 

 

3.

DEFINITIONS

 

 

3.1

“Game” means Minecraft.

 

 

3.2

“Approved Advertising Content”
means advertising, artwork and other content related to the Game
that are approved in writing by Mojang to be used solely by SLG in
Mojang-approved advertising, marketing and promotion of the
Game.

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-2-

 

 

3.3

“Approved Game Content” means the
Minecraft mods created by
SLG for Game Leagues that are approved in writing by
Mojang.

 

 

3.4

“Authorized Users” means end users
that have a valid and current end user license (including PC-based,
mobile and other licenses) from Mojang to use and play the
Game.

 

 

3.5

“Game League” means the practice,
play and watch events that SLG operates in Gaming Venues with
Authorized Users using Approved Game Content in the manner
described in this Agreement.

 

 

3.6

“License” means the limited license
provided by Mojang to SLG in Section 4.1.

 

 

3.7

“Minecraft IP” means the
intellectual property owned by Mojang covering the Game, including
the Minecraft Marks.

 

 

3.8

“Minecraft Marks” means the
Minecraft trademarks, logos and/or symbols identified in
Exhibit A, attached
hereto.

 

 

3.9

“Gaming Venues” means movie
theatres and, subject to Mojang’s prior written approval,
other locations such as schools, arenas, and other physical
locations in the Territory that enable SLG to perform Game
Leagues.

 

 

3.10

“Term” means the period commencing
with the Effective Date and ending upon the earlier of three (3)
years from the Effective Date or the termination of this
Agreement.

 

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-3-

 

 

 

3.11

“Territory” means the fifty (50)
States (including the Federal District of Columbia (DC)), within
the United States, but specifically excluding any other territories
or regions outside the fifty (50) States, plus Canada. The
Territory may be modified by the parties by mutual agreement in
writing.

 

 

4.

LICENSE

 

 

4.1

Subject to the
terms and conditions of this Agreement, including SLG making timely
payments pursuant to Sections 10 and 11, and SLG complying with
Mojang’s trademark use guidelines at https://www.microsoft.com/en-
us/legal/intellectualproperty/trademarks/usage/general.aspx (the
“Trademark
Guidelines”), Mojang grants SLG a non-exclusive,
non-sublicensable, non- transferable, personal, limited license
during the Term under the Minecraft IP solely to (i) reproduce,
publicly display and publicly perform the Game and Approved Game
Content to Authorized Users of the Game as part of a Game League,
and (ii) display Approved Advertising Content solely in connection
with Mojang-approved advertising, marketing and promotion of the
Game League (collectively (i) and (ii) “Licensed
Activities”).

 

 

4.2

The License is
non-extendible, non-sublicensable, non-exclusive, non-
transferable, and personal to SLG and shall not provide any
enforcement rights to

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-4-

 

 

any
third parties. Mojang reserves all rights (and no one receives any
rights) not expressly granted by the License. No additional rights
(including any implied patent licenses, covenants, releases,
immunities or other rights) are granted by the License, through
implication, exhaustion, estoppel or otherwise. Without limiting
the generality of the foregoing, the License does not include, and
is conditioned upon no one, including SLG and the Authorized Users,
receiving, any license, right, release or covenant to (a) sell,
lease, license or distribute the Game or licenses to use the Game,
(b) any intellectual property, products, services, technology,
software, features or functionality not included in the Minecraft
IP (e.g. related or enabling technologies or rights), or (c)
encumber, license or sublicense the Minecraft IP.

 

 

5.

TRADEMARK
USAGE

 

 

5.1

SLG acknowledges
and agrees that Mojang owns the Minecraft Marks and all associated
goodwill, and retains all right, title, and interest in and to the
Minecraft Marks, and that all goodwill arising from use of the
Minecraft Marks will inure to the benefit of Mojang. When using the
Minecraft Marks as permitted herein, the activities, service or
product to which Mojang’s goodwill is being associated by
virtue of the Minecraft Mark usage will meet or exceed standards of
quality and performance generally accepted in the industry for such
activities, service or product. In the event Mojang reasonably
believes such quality standards are not being met, or does not
otherwise agree with SLG’s use of the Minecraft Marks, SLG
will, as promptly as is commercially reasonable, correct any such
deficiencies in its use of the Minecraft Marks and conformance to
the quality standards. SLG will not use the Minecraft Marks in any
manner that could

 

diminish or
otherwise damage Mojang’s goodwill. SLG will not adopt, use
or register any corporate name, trade name, domain name, trademark,
service mark or certification mark, or other designation
confusingly similar to the Minecraft Marks. SLG will take
reasonable steps to notify Mojang of any suspected infringement of
or challenge to the Minecraft Marks of which it becomes
aware.

 

 

6.

APPROVAL
PROCESS

 

 

 

6.1

Process for Approving Materials and
new Game League Activities. Prior to displaying any
advertising, artwork or other content in connection with any
advertising, marketing, promotion and/or sponsorships of the Game
League and prior to using any Minecraft mods as part of the
Licensed Activities (collectively, all of the foregoing,
“Material”), SLG
shall submit a sample of any Material to Mojang and seek approval
of such Material as Approved Advertising Content or Approved Game
Content, respectively, at least ten (10) business days prior to
distributing, displaying, and/or otherwise using such Material. SLG
shall not distribute, display, and/or otherwise use such Material
without receiving Mojang’s prior written approval. Mojang may
withhold its approval in its sole and absolute discretion. Prior to
beginning any new Game League program (other than movie theater
play and practice events), watch event, or other activity, SLG
shall submit to Mojang a description of the program for
Mojang’s written approval. If

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-5-

 

 

Mojang
fails to respond to SLG’s request for approval within ten
(10) business days, SLG’s request for approval shall be
deemed denied by Mojang. If Mojang fails to respond within ten (10)
business days, SLG may send a reminder email to Mojang within
forty-eight (48) hours thereafter. SLG shall not be required to re-
submit any previously approved Material for subsequent
use.

 

 

7.

SLG
OBLIGATIONS

 

 

 

7.1

SLG will use the
Minecraft Marks only in accordance with the Trademark Guidelines
and only in connection with the Licensed Activities as approved by
Mojang.

 

 

 

7.2

SLG will maintain a
dedicated, full-time employee who has deep experience in the Game
and the gaming industry to manage Game League operations, liaise
with Mojang on technology, marketing and other strategic matters,
and ensure the Games Leagues are an authentic, player-focused
experience.

 

 

7.3

SLG will operate
the Game League and perform Licensed Activities in a manner that
provides a beneficial user experience for Authorized Users at all
times.

 

 

8.

MOJANG
OBLIGATIONS

 

 

Mojang will respond to a reasonable number
of requests for approval of Material in a commercially reasonable
manner.

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-6-

 

 

 

9.

COPPA
COMPLIANCE

 

 

9.1

SLG will not place,
display or post any materials depicting or using the Minecraft IP
which contain or include any material which is unlawful, libelous,
obscene, indecent, threatening, intimidating, or harassing.
Additionally, SLG shall not feature, or permit any third-party to
feature, any of the following in its advertising or promotions
relating to the Game or the Game League:

 

 

9.1.1

Prescription or
non-“over-the-counter” drugs.

 

 

9.1.2

Firearms, handguns,
ammunition, or peripherals.

 

 

9.1.3

Pornography or
pornographic products.

 

 

9.1.4

Tobacco, tobacco
products, or paraphernalia.

 

 

9.1.5

Alcohol products or
other intoxicants the sale or use of which is regulated by
law.

 

 

9.1.6

Sellers or
marketplaces of virtual items known to be counterfeit or illegal
sellers thereof, or who are otherwise in breach of the Game’s
terms of use.

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-7-

 

 

9.1.7

Businesses engaged
in gambling, wagering, bookmaking, or sports or esports betting,
including fantasy sports or esports.

 

 

9.1.8

Specific sponsors
or entities identified in writing by Mojang (email
sufficient).

 

 

9.2 SLG shall strictly
comply with the Children’s Online Privacy Policy Act of 1988
(“COPPA”) at all
times.

 

 

10.

ROYALTIES

 

 

 

10.1

Game League Operations. SLG
shall pay Mojang a royalty of (i) [*****] on the initial ten
million dollars ($10,000,000.00 USD) of aggregate Game League Net
Revenue accrued over the Term, and (ii) [*****] on all Game League
Net Revenue beyond $10,000,000.00 USD accrued over the Term.
“Net Revenue”
means the gross amount of all Game League ticket sales and any
other entry fees, charges, or amounts generated by the Game League,
less merchant account processing fees and the amounts actually
charged to SLG by Gaming Venues and Game League venue operators
(the “Costs”).
Calculations of Net Revenue shall be made on an individual Gaming
Venue basis and SLG may not aggregate Costs across multiple Gaming
Venues.

 

 

 

10.2

Advertising. SLG shall pay
Mojang the sum of [*****] of gross revenue for all advertising sold
by SLG relating to the Game League (“Advertising”).

 

 

10.3

Sponsorship. SLG shall pay
Mojang the sum of [*****] of gross revenue for all sponsorship sold
by SLG relating to the Game League (“Sponsorship”).

 

 

10.4

GAAP. All amounts calculated
under this Agreement must be calculated in accordance with U.S.
generally accepted accounting principles (“GAAP”).

 

 

11.

REPORTS
& PAYMENT

 

 

 

11.1

No later than
thirty (30) days after the end of each month during the Term, SLG
shall send Mojang a detailed report to karin@mojang.com which shall
include detailed information for: [*****].

 

 

11.2

Mojang will send
SLG invoices reflecting amounts due to Mojang based on SLG’s
reports. SLG shall pay the invoiced amounts within seven (7)
calendar days of receipt of Mojang’s invoices. All payments
will be made in U.S. Dollars by wire transfer into Mojang’s
bank account specified below or such other bank account of Mojang
in the U.S. as Mojang may specify in the invoice. SLG will bear any
wire transfer fees charged by the transferred bank, and Mojang will
bear any wire transfer fees charged by the receiving
bank.

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-8-

 

 

Wiring
Instructions:

 

[*****]

 

 

 

 

 

12.

AUDIT

 

 

12.1

SLG shall maintain
and keep (at SLG’s principal place of business and at its
sole expense), during the Term and for at least three (3) years
after expiration or earlier termination of this Agreement, accurate
books of accounting and records covering all matters and
transactions related to this Agreement. Mojang and its duly
authorized representative(s) shall have the right, upon reasonable
notice and at all reasonable hours of the day, to examine and copy
and otherwise audit said books of accounting, records and all other
documents and materials in the possession or under the control of
SLG with respect to all transactions related to this Agreement. In
the event such inspection or audit discloses or reflects
underpayment or other discrepancies totaling at least five percent
(5%) of the amount due and payable to Mojang by SLG, then, without
limiting any other rights or remedies that may be available to
Mojang as a result of the same, SLG shall reimburse Mojang for all
costs and expenses of such inspection or audit and shall pay Mojang
such underpayment or other discrepancy within fifteen (15) days of
the end of the inspection or audit.

 

 

13.

EXPENSES

 

 

 

Unless
otherwise set forth in this Agreement, each Party will bear its own
costs and expenses that are incurred in the performance of their
obligations under this Agreement.

 

 

14.

TERM
AND TERMINATION

 

 

14.1

Termination by Mojang. Mojang
shall have the right to terminate this Agreement by providing
written notice to SLG as follows:

 

 

14.1.1

For material breach
by SLG upon expiration of a thirty (30) day cure period commencing
from the date of notice of material breach, provided that such
material breach is curable.

 

 

14.1.2

Immediately for any
material breach by SLG if such material breach is
uncurable.

 

 

14.1.3

Immediately in the
event that SLG (i) files or has filed against it a petition in
bankruptcy; (ii) is adjudged bankrupt; (iii) becomes insolvent;
(iv)

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-9-

 

 

makes
an assignment for the benefit of creditors; (v) discontinues its
business; or (vi) has a receiver appointed for it or its business
who is not discharged within thirty (30) days.

 

 

14.1.4

For Mojang’s
convenience at Mojang’s discretion by providing
ninety

(90)
days’ written notice to SLG.

 

 

14.2

The Term of this
Agreement may only be extended upon consent of Mojang in writing at
its discretion.

 

 

14.3

Upon expiration or
termination of this Agreement, the License will terminate, SLG will
immediately cease all use of the Minecraft IP and only the
following Sections shall survive: Sections 1, 2, 3, 4.2, 5.1 (but
only the first and penultimate sentences), 10 (but only with
respect to payments for activities occurring during the Term), 11
(but only with respect to reporting and payments for activities
occurring during the Term), 12 (but only for 3 years after the
Term), 13, 14.3, 15, 16, 17, 18, 20, 21, and 22.

 

 

15.

CONFIDENTIALITY

 

 

15.1

Confidential Information. Each
Party acknowledges that by reason of its relationship to the other
Party under this Agreement it will have access to and acquire
knowledge, material, data, systems and other information concerning
the operation, business, financial affairs and intellectual
property of the other Party that may not be accessible or known to
the general public (referred to as “Confidential
Information”).

 

 

15.2

No Disclosure/Use. Each Party
agrees that it will: (i) maintain and preserve the confidentiality
of all Confidential Information received from the other Party (the
“Disclosing
Party”), both orally and in writing, including taking
such steps to protect the confidentiality of the Disclosing
Party’s Confidential Information as the Party receiving such
Confidential Information (the “Receiving Party”) takes to protect
the confidentiality of its own confidential or proprietary
information; provided, however, that in no instance shall the
Receiving Party use less than a reasonable standard of care to
protect the Disclosing Party’s Confidential Information; (ii)
disclose such Confidential Information only to its own

employees on a
“need-to-know” basis, and only to those employees who
have agreed to maintain the confidentiality thereof pursuant to a
written agreement containing terms least as stringent as those set
forth in this Agreement; (iii) not disclose such Confidential
Information to any third party without the prior written consent of
the Disclosing Party; provided, however, that each Party may
disclose the financial terms of this Agreement to its legal and
business advisors and to potential investors so long as such third
parties agree to maintain the confidentiality of such Confidential
Information. Each Receiving Party further agrees to use the
Confidential Information of the Disclosing Party only for the
purpose of performing its obligations under this Agreement. The
Receiving Party’s obligation of confidentiality shall survive
this Agreement for a period of

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-10-

 

 

five
(5) years from the date of its termination or expiration and
thereafter shall terminate and be of no further force or effect;
provided, however, that with respect to Confidential Information
which constitutes a trade secret, such information shall remain
confidential so long as such information continues to remain a
trade secret. The Parties also mutually agree to (1) not alter or
remove any identification or notice of any copyright, trademark, or
other proprietary rights which indicates the ownership of any part
of the Disclosing Party’s Confidential Information; and (2)
notify the Disclosing Party of the circumstances surrounding any
possession or use of the Confidential Information by any person or
entity other than those authorized under this
Agreement.

 

 

15.3

Exclusions. The confidentiality
obligations of the Parties described above shall not apply to
Confidential Information which the Receiving Party can prove: (i)
has become a matter of public knowledge through no fault, action or
omission of or by the Receiving Party; (ii) was rightfully in the
Receiving Party’s possession prior to disclosure by the
Disclosing Party; (iii) subsequent to disclosure by the Disclosing
Party, was rightfully obtained by the Receiving Party from a third
party who was lawfully in possession of such Confidential
Information without restriction; (iv) was independently developed
by the Receiving Party without resort to the Disclosing
Party’s Confidential Information; or (v) must be disclosed by
the Receiving Party pursuant to law, judicial order or any
applicable regulation (including any applicable stock exchange
rules and regulations); provided, however, that in the case of
disclosures made in accordance with the foregoing clause (v), the
Receiving Party must (unless prohibited by law) provide prior
written notice to the Disclosing Party of any such legally required
disclosure of

 

the
Disclosing Party’s Confidential Information as soon as
practicable in order to afford the Disclosing Party an opportunity
to seek a protective order, or, in the event that such order cannot
be obtained, disclosure may be made in a manner intended to
minimize or eliminate the disclosure of Confidential
Information.

 

 

16.

PRIVACY
AND DATA SECURITY

 

 

16.1

Privacy Laws. SLG shall at all
times perform its obligations hereunder in accordance with
SLG’s privacy policies, the requirements of any contracts or
codes of conduct to which SLG is a party and any applicable laws or
regulations related to the processing of Personal Data (as defined
below) and/or the privacy of individual data subjects
(collectively, “Privacy
Laws”), including obtaining and at all times
maintaining any appropriate registrations or certifications under
such Privacy Laws.

 

 

16.2

Data Processing. For the
purposes of this Agreement, “Personal Data” has the meaning set
forth in applicable Privacy Laws, specifically including without
limitation any and all personally identifiable information of
Mojang customers or employees, as well any copies or corresponding
reference files kept or made by SLG thereof in any format. To the
extent SLG is required to process Personal Data, SLG expressly
acknowledges and agrees that it will only process such

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-11-

 

 

Personal Data in
accordance with terms and conditions of this Agreement and as
necessary to perform its obligations hereunder.

 

 

16.3

Information Security. SLG shall
establish, employ and at all times maintain physical, technical and
administrative security safeguards and procedures sufficient to
prevent any unauthorized processing of Personal Data and/or use,
access, copying, exhibition, transmission or removal of
Mojang’s Confidential Information from SLG’s
facilities. SLG shall promptly provide Mojang with written
descriptions of such procedures and policies upon request. Mojang
shall have the right, upon reasonable prior written notice to SLG
and during normal business hours, to conduct on-site security
audits or otherwise inspect SLG’s facilities to confirm
compliance with such security requirements.

 

 

17.

REPRESENTATIONS
AND WARRANTIES

 

 

17.1

Standing; Due Authorization.
SLG represents, warrants and covenants that it: (i) is an entity
duly formed and/or organized and validly subsisting pursuant to the
laws of its jurisdiction of formation and/or organization; (ii) is
qualified to do business in the jurisdictions in which it operates
the Game League; and (iii) has due authorization and authority to
enter into this Agreement and to fully perform its obligations
hereunder.

 

 

 

17.2

Performance. SLG represents and
warrants that in performing its obligations hereunder, it shall at
all times: (i) conduct itself in a professional manner in
reasonable accordance with industry standards; and (ii) comply with
all applicable laws, statutes, ordinances, rules, regulations and
requirements of all governmental agencies and regulatory
bodies.

 

 

18.

INDEMNITY

 

 

 

18.1

SLG will indemnify
and hold harmless Mojang and any of its affiliates, subsidiaries,
directors, officers, agents, employees, successors and assigns from
and against any and all third party claims, actions, losses,
damages and expenses (including reasonable, outside attorney fees)
arising out of or caused by: (i) any failure by SLG to perform its
obligations under this Agreement; (ii) the breach of any
representation, warranty, and/or covenant made by SLG under this
Agreement, and (iii) SLG performing Licensed
Activities.

 

 

18.2

If any action is
brought against Microsoft and/or its affiliates, subsidiaries,
directors, officers, agents, employees, successors and assigns (the
“Indemnified
Party”) with respect to any allegation for which
Microsoft seeks indemnity from SLG (the “Indemnifying Party”), Microsoft
shall promptly notify the Indemnifying Party in writing. The
Indemnified Party shall cooperate with the Indemnifying Party, at
the Indemnifying Party’s expense and in all reasonable
respects, in connection with the defense of any such action. The
Indemnifying Party shall conduct all proceedings or negotiations in
connection therewith, assume the defense thereof, and all other
required steps or proceedings to settle or

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-12-

 

 

defend
any such action, including the employment of counsel and payment of
all expenses; provided, however, the Indemnified Party shall have
the right to employ separate counsel and jointly participate in the
defense at the Indemnified Party’s sole expense. The
Indemnifying Party shall not enter into any settlement that
obligates the Indemnified Party to take any action or incur any
expense without such Indemnified Party’s prior written
consent, which consent shall not be unreasonably withheld or
delayed.

 

 

19.

INSURANCE

 

 

 

19.1

SLG shall secure
and maintain, at its sole cost and expense, in connection with its
obligations hereunder and operation of the Game League, all
customary and necessary insurance policies, including comprehensive
general liability insurance with limits of not less than One
Million USD ($1,000,000) per occurrence / Two Million USD
($2,000,000) in the aggregate, employer’s liability insurance
in a minimum amount of One Million USD ($1,000,000) per occurrence,
automobile liability insurance in a minimum amount of One Million
USD ($1,000,000) per occurrence, statutory worker’s
compensation insurance and professional liability or cyber
liability insurance (which shall include errors and omissions,
media liability, privacy and network security insurance) with
limits of not less than Two Million USD ($2,000,000) per occurrence
/ Two Million USD ($2,000,000) in the aggregate, which policies
shall list Mojang as an additional insured (collectively, the
“Insurance”).
SLG shall deliver to Mojang a certificate evidencing the Insurance
required by this section. SLG shall use an Insurance provider with
an AM BEST ratings of at least A-VII.

 

 

20.

LIMITATION
OF LIABILITY; DISCLAIMER

 

 

 

20.1

TO THE MAXIMUM
EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES SHALL
MOJANG OR ITS AFFILIATES BE LIABLE TO SLG FOR (1) ANY CLAIMS OR
DAMAGES UNDER THIS AGREEMENT REGARDLESS OF THEORY OF LIABILITY,
WHETHER BASED UPON PRINCIPLES OF CONTRACT, WARRANTY, NEGLIGENCE OR
OTHER TORT, BREACH OF ANY STATUTORY DUTY, PRINCIPLES OF INDEMNITY,
THE FAILURE OF ANY LIMITED REMEDY TO ACHIEVE ITS ESSENTIAL PURPOSE
OR OTHERWISE, OR (2) FOR ANY SPECIAL, CONSEQUENTIAL, RELIANCE,
INDIRECT, INCIDENTAL, PUNITIVE OR EXEMPLARY DAMAGES, WHETHER
FORESEEABLE OR NOT, INCLUDING LOST PROFITS, REVENUE OR GOODWILL. IN
NO EVENT SHALL MOJANG’S LIABILITY TO SLG ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT EXCEED THE TOTAL AMOUNTS PAID BY SLG
TO MOJANG HEREUNDER.

 

 

20.2

TO THE MAXIMUM
EXTENT PERMITTED BY APPLICABLE LAW, MOJANG DISCLAIMS ANY AND ALL
REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED OR STATUTORY WITH
RESPECT TO THE LICENSE, THE LICENSED ACTIVITES, AND THE MINECRAFT
IP,

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-13-

 

 

INCLUDING WITH
RESPECT TO VALIDITY, NONINFRINGEMENT, MERCHANTABILITY AND FITNESS
FOR ANY PARTICULAR PURPOSE.

 

 

21.

DISPUTE
RESOLUTION

 

 

 

21.1

Governing Law; Venue. This
Agreement shall be interpreted and controlled first in accordance
with the federal laws of the United States to the extent federal
subject matter jurisdiction exists and second in accordance with
the laws of the State of Washington without regard to its conflict
of law rules. With respect to all civil actions or other legal or
equitable proceedings directly arising between the Parties under
this Agreement, the Parties consent to exclusive jurisdiction and
venue in the United States District Court for the Western District
of Washington (the “Forum”), unless no federal
jurisdiction exists, in which case the Parties consent to exclusive
jurisdiction and venue in the Washington state courts (the
“Alternate
Forum”). Each Party irrevocably consents to personal
jurisdiction and waives the defense of forum non conveniens in the
Forum, or Alternate Forum as applicable. Process may be served on
the Parties in the manner authorized by applicable law or court
rule.

 

 

21.2

Injunctive Relief. SLG agrees
that in the event of any breach or alleged breach by SLG of any
covenant or agreement in this Agreement, Mojang would encounter
extreme difficulty in attempting to prove the actual amount of
damages suffered by it as a result of such breach and may not have
adequate remedy at law in such event. SLG therefore agrees that, in
addition to any other remedy available at law or in equity, in the
event of such breach, Mojang shall be entitled to seek and receive
specific performance and temporary, preliminary and permanent
injunctive relief from violation of any of said covenants and
agreements without the requirement of proving the amount of any
actual damage to Mojang resulting or expected from such
breach.

 

 

21.3

Attorney Fees. In any action
arising out of or related to this Agreement, the prevailing Party
shall be entitled to recover its costs and attorney fees reasonably
incurred in connection with the dispute.

 

 

22.

MISCELLANEOUS

 

 

22.1

Assignment. SLG may not assign
this Agreement, in whole or in part, by operation of law or
otherwise, without the prior written consent of Mojang, which may
be withheld in Mojang’s sole discretion. Mojang may assign
this Agreement to an affiliate of Mojang upon notice to
SLG.

 

 

22.2

Notices. All notices or other
communications required or permitted hereunder shall be in writing
and shall be deemed to have been duly given (a) on the date
delivered in person or by courier, (b) on the date a Party responds
via e-mail that it has received the other Party’s notice via
e-mail, (c) on the date indicated on the return receipt if mailed
postage prepaid, by certified or registered U.S. Mail, with return
receipt requested; or (d) if sent or mailed by Federal Express (or
other

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-14-

 

 

nationally
recognized) overnight delivery service, then as of the next
business day. In each case, such notices and other communications
shall be sent to a Party at the following addresses:

 

If to
SLG:

 

Super
League Gaming, Inc. 2906 Colorado Ave

Santa
Monica, CA 90404 Attn: Ann Hand, CEO

Email:
ann@superleague.com If to Mojang:

 

Mojang
AB

Maria
Skolgata 83 BV SE-118 53, Stockholm, Sweden Attn: Jonas
Martennson

Email:
jonas@mojang.com

 

With a
copy to: Microsoft Corporation One Microsoft Way Redmond, WA 98052
Attn: Jeremy Snook

Email:
jesnook@microsoft.com

 

 

 

22.3

Severability. If any provision
of this Agreement is or becomes or is deemed invalid, illegal or
unenforceable in any jurisdiction, such provision shall be deemed
amended to conform to the applicable laws of such jurisdiction so
as to be valid and enforceable only if it can be so amended without
materially altering the intention of the Parties. If the intent of
the Parties cannot be preserved, or if Section 4.2 or Section 20,
in whole or in part, are found to be unenforceable, this Agreement
shall terminate and become be null and void.

 

 

22.4

Waiver. Waiver by either of the
Parties of any breach of any provision of this Agreement shall not
operate or be construed as a waiver of any prior or subsequent
breach of the same or any other provision hereof.

 

 

22.5

Entire Agreement. This
Agreement (including all exhibits attached hereto, which are
incorporated herein by reference) constitutes the entire agreement
between the Parties with respect to the subject matter hereto and
all prior agreements and negotiations are merged herein. This
Agreement may not be changed, modified, amended or supplemented,
except in writing signed by both Parties.

 

 

22.6

Interpretation. The headings
contained herein are for convenience and reference only, do not
form a substantive part of this Agreement and in no way
modify,

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-15-

 

 

interpret or
construe the intentions of the Parties. No provision of this
Agreement shall be interpreted for or against any Party because
that Party or its legal representative drafted such provision. The
words “including” and/or “include” shall be
interpreted without limitation when used in this Agreement. If this
Agreement is translated into any language other than English, the
English language version of this Agreement shall prevail. A
reference to a statute or statutory provision herein is a reference
to such statute or statutory provision as amended, extended or
re-enacted from time to time.

 

 

22.7

Counterparts. This Agreement
may be executed in multiple counterparts, each of which shall be
deemed to be an original, and all such counterparts shall
constitute one instrument. Authorized signatures transmitted by
facsimile, email or electronic scan shall be
effective.

 

 

22.8

Not Effective Until Execution.
This Agreement shall have no force or effect, and nothing in this
Agreement shall be binding upon Mojang and SLG, unless and until
such time, if any, as this Agreement has been executed by an
authorized signatory of Mojang and SLG, respectively.

 

 

22.9

Relationship. This Agreement
does not create any worker or employer-employee relationship,
partnership, joint venture, franchise or agency relationship
between Mojang and SLG. Neither party nor any of its
representatives may make any statement, representation, warranty or
promise to the contrary or on behalf of the other
party.

 

 

IN WITNESS WHEREOF, the Parties have
executed and delivered this Agreement as of the Effective
Date.

 

 

 

	

MOJANG
AB

 

  /s/
Jonas Martensson

Signature

 

 

Jonas
Martensson

 

Print
Name

Managing
Director

 

Title

	

SUPER
LEAGUE GAMING, INC.

/s/ Ann
Hand

Signature

Ann
Hand

 

Print
Name

 

 

CEO

 

Title

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-16-

 

 

EXHIBIT A

 

 

Minecraft Marks

 

 

 

 

 

 

1.
MINECRAFT

 

 

 

 

2.

 

***** SUPER LEAGUE GAMING, INC. HAS REQUESTED THAT THE OMITTED
PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY [*****], BE
AFFORDED CONFIDENTIAL TREATMENT. SUPER LEAGUE GAMING, INC. HAS
SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION.

-17-

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