Document:

Exhibit 10.7

      

     

      

    Exhibit G

    

    

    Transaction Support Agreement

    

    

    TRANSACTION SUPPORT AGREEMENT

     

    

    This TRANSACTION SUPPORT AGREEMENT (this “Agreement”) is entered into as of April 23, 2021, by and between
      Super Group (SGHC) Limited, a non-cellular company limited by shares incorporated under the laws of the Island of Guernsey (the “Company”), SGHC Limited, a non-cellular company limited by shares incorporated under the laws of the Island of
      Guernsey (“Topco”), Sports Entertainment Acquisition Corp., a Delaware corporation (“SEAC”), and the undersigned, a shareholder of Topco (the “Shareholder”). Each of the Company, Topco, SEAC and the Shareholder are sometimes
      referred to herein individually as a “Party” and collectively as the “Parties”. Capitalized terms used herein without being otherwise defined herein shall have the meanings assigned thereto in the BCA (defined below).

    

    

    RECITALS

    

    

    WHEREAS, the Company, Topco, SEAC and Sports Entertainment Acquisition Holdings LLC, a Delaware limited liability company (“Sponsor”), are entering into that certain Business Combination Agreement (the “BCA”),
        substantially in the form attached as Exhibit A hereto (as the same may be amended or supplemented from time to time), on or around April 23, 2021 (the “Signing Date”);

    

    

    WHEREAS, pursuant to the BCA, among other things, on the Closing Date but prior to the Closing, the Company and Topco will undergo the Pre-Closing Reorganization which provides for the exchange by the Pre-Closing Holders of all
        existing ordinary of shares of Topco for newly issued ordinary shares of the Company, on the terms and subject to the conditions set forth in the BCA;

    

    

    WHEREAS, the Shareholder is the sole legal and beneficial owner of the number of each class and type of equity securities of Topco set forth on Schedule A hereto (the “Current Shares”) (in addition to any other
        equity securities of Topco acquired by the Shareholder after the date hereof and prior to the Closing, including, without limitation, any equity securities issued or deemed issued to the Shareholder in connection with the conversion or exchange
        (including pursuant to the Pre-Closing Reorganization) of any other equity securities, or received by the Shareholder pursuant to any reclassification, stock split, combination, stock dividend, subdivision, recapitalization or the like,
        collectively, the “Subject Securities”), and expects to receive substantial benefits as a result of the consummation of the Merger subject to the terms of the BCA;

    

    

    WHEREAS, the BCA contemplates that, simultaneously with the Closing, Topco, the Company, SEAC, the Founder Holders and the shareholders signatory thereto will enter into an Amended and Restated Registration Rights Agreement (the
        “Registration Rights Agreement”), substantially in the form attached as Exhibit B hereto, containing, among other things, provisions regarding registration rights and sale coordination obligations, and a Lock-Up Agreement (the “Lock-Up

          Agreement”), substantially in the form attached as Exhibit C hereto, containing, among other things, provisions regarding lock-up restrictions; and

    

    

    
      
        

    

    
    WHEREAS, in consideration for the payments and other benefits to be received by the Shareholder under and subject to the terms of the BCA and as a material inducement to Topco’s and SEAC’s entry into the BCA and consummation of
        the transactions contemplated thereby, the Shareholder agrees to enter into this Agreement and to be bound by the obligations set forth herein.

    

    

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

    

    

    AGREEMENT

    

    

    
      1.           Support Agreement / Power of Attorney.

      

      

    

    
      (a)          The Shareholder hereby irrevocably and unconditionally agrees that, from and after the date hereof and until the earlier of the Closing or the valid termination of the BCA (the “Effective

          Period”), at any meeting of the shareholders of Topco or the Company (whether annual or extraordinary and whether or not adjourned or postponed or any other meeting of Topco or the Company), however called, on any written resolution, and in
        any action by written consent or resolution, in each case of the shareholders of Topco or the Company (collectively, “such meeting or written consent”), the Shareholder shall, solely in its capacity as a shareholder of Topco or the Company, as
        applicable, do the following:

    

    
      

      

      (i)         when such meeting is held, appear at such meeting (in person or by proxy pursuant to Section 1(b) below) or otherwise cause the Subject Securities to be counted as
        present thereat for the purpose of establishing a quorum;

      

      

      (ii)          vote the Subject Securities (or execute and return an action by written consent), or cause the Subject Securities to be voted (or validly execute and return and
        cause such consent to be granted with respect to), at such meeting or written consent in favor of the BCA, and the dealing with of the Subject Securities in accordance with the BCA, and the transactions contemplated thereby, including the
        Pre-Closing Reorganization (collectively, the “Transactions”), including with respect to any matter in furtherance of the Transactions or by any of the Ancillary Agreements for which a vote or approval of the shareholders of Topco or the
        Company is required (the “Transaction Approvals”); and

      

      

      (iii)          vote the Subject Securities (or execute and return an action by written consent), or cause the Subject Securities to be voted (or validly execute and return and
        cause such consent to be granted with respect to), at such meeting or written consent against any Competing Transaction.

    

    
      

      

    

    
      2

      
        

    

    
      (b)        The Shareholder has revoked or terminated any proxies, voting agreements or similar arrangements previously given or entered into with respect to the Subject Securities. The Shareholder,
        to the maximum extent not prohibited by applicable Law, does hereby constitute, appoint and grant to the Company full power to act without others, as its true and lawful representative, agent and attorney-in-fact, in its name, place and stead, to
        make, execute or sign, acknowledge, swear to, verify, deliver, record, file and/or publish, as applicable, such actions, documents, deeds, agreements or instruments as may be required under the laws of Guernsey or any other jurisdiction or
        otherwise in connection with the Transaction Approvals (including executing and delivering the Registration Rights Agreement on behalf of the Shareholder, any other Ancillary Agreement required to be executed by the Shareholder pursuant to the BCA,
        and any document or instrument relating to such Shareholder’s ownership of the Subject Securities); provided, however, that the power of attorney granted to the Company hereunder shall not be used to take any actions pursuant to any
        amended provision of the BCA in the event the BCA is amended following the Signing Date, to the extent any such amendment to the BCA (i) is adverse and disproportionate to the undersigned Shareholder in any respect relative to the Company under the
        terms of such amendment, or (ii) reduces the Company Equity Value. The Shareholder hereby empowers each agent and attorney-in-fact acting pursuant hereto to determine in its sole discretion the time when, purpose for and manner in which any power
        herein conferred upon it shall be exercised, and the conditions, provisions and covenants of any instruments or documents that may be executed by it pursuant hereto. The agency and powers of attorney granted herein shall be unconditional and
        irrevocable, and shall survive the death, incompetency, incapacity, disability, insolvency or dissolution of the Shareholder (regardless of whether the Company has notice thereof). The Shareholder agrees to execute such other documents as the
        Company may reasonably request in order to effect the intention and purposes of the agency and power of attorney contemplated by this Section 1(b). The Shareholder hereby approves, authorizes and ratifies everything which the Company shall
        lawfully do or purport to do pursuant to Section 1(b).

      

      

      (c)          The Shareholder hereby covenants and agrees that the Shareholder shall not, at any time prior to the earlier of the termination of this Agreement in accordance with Section 6(a)
        or the Closing, (i) enter into any voting agreement or voting trust with respect to any of the Subject Securities that is inconsistent with the Shareholder’s obligations pursuant to this Agreement, (ii) grant a proxy or power of attorney with
        respect to any of the Subject Securities that is inconsistent with the Shareholder’s obligations pursuant to this Agreement, or (iii) enter into any agreement or undertaking that is otherwise inconsistent with, or would interfere with, or prohibit
        or prevent it from satisfying, its obligations pursuant to this Agreement.

      

      

      (d)       The Shareholder shall be bound by and subject to Section 6.5 (Confidential Information) and Section 6.10(a) (Communications) of the BCA to the same extent as such provisions apply to the
        parties to the BCA, as if the Shareholder is directly party thereto, and the Shareholder shall be bound by and subject to Section 6.15(a) (Exclusivity) and Section 8.10 (Trust Account Waiver) of the BCA to the same extent as such provisions apply
        to the Company and NewCo, as if the Shareholder is directly party thereto.

    

    
      

      

    

    
      3

      
        

    

    
      2.          Release of Claims.  In consideration for the payments and other benefits to be received by the Shareholder under the terms of the BCA, subject to and effective as of the Closing,
        the Shareholder, for and on behalf of himself, herself or itself and each of his, her or its, as applicable, heirs, executors, administrators, personal representatives, successors, assigns, subsidiaries, predecessors, parent companies, shareholders
        and Affiliates and in each case, each of their respective Affiliates, officers, directors, partners, employees, agents, attorneys, and other representatives, hereby acknowledges full and complete satisfaction of and fully and irrevocably releases
        and forever discharges the Company, Topco, SEAC (and, for the avoidance of doubt, the Trust Account), the Target Companies, each of their respective subsidiaries and their predecessors, successors, assignees, parent companies, shareholders and
        investors (direct and indirect) and, in each case, each of their respective Affiliates, officers, directors, partners, employees, agents, attorneys and other representatives, past and present (collectively, the “Released Entities”), from
        liability on or for any and all charges, claims, controversies, actions, causes of action, cross claims, counterclaims, demands, debts, duties, sanctions, fines, compensatory damages, liquidated damages, punitive or exemplary damages, other
        damages, claims for costs, attorney’s fees, sums of money, suits, contracts, covenants, controversies, agreements, promises, responsibilities, obligations and accounts of any kind, nature or description whatsoever in Law or in equity (“Actions”),

        direct or indirect, past, present and future, and whether or not now or heretofore known, suspected, matured or unmatured, contingent or uncontingent, or claimed against the Released Entities, through and including the Closing, arising out of, or
        relating to, (i) such Shareholder’s ownership of equity or debt interests in any Target Company, including Topco or the Company, prior to the Closing (including any and all Actions such Shareholder may have against the Released Entities in such
        Shareholder’s capacity as a securityholder or a debtholder of any Target Company) and (ii) the organization, management or operation of the businesses of any Target Company relating to any matter, occurrence, action, inaction, omission or activity
        prior to the Closing, in each case, in such Shareholder’s capacity as an equity or debt securityholder; provided, that such release shall not release the Released Entities for (i) any liabilities or Actions that such Shareholder has pursuant to its
        right to receive its portion of the Aggregate Stock Consideration or Earnout Shares determined in accordance with, and subject to, the terms of, and the steps set forth in, the BCA, (ii) any Actions arising out of or related to the Released
        Entities’ respective Governing Document, to provide indemnification, reimbursement or advancement of expenses to such Shareholder in respect of actions taken or omitted in such Shareholder’s capacity as an officer and/or director of such Released
        Entity prior to the Closing, (iii) any Actions arising out of or related to the Released Entities’ contracts with or obligations to any Shareholder in respect of compensation arrangements as an officer and/or director of such Released Entity prior
        to the Closing, (iv) any Actions arising under, or in connection with, any commercial agreements as between the Shareholder or its Affiliates and any Released Entity, or (v) any Actions arising under, or in connection with, any agreements set forth
        in Section 1.1(a) of the Company Disclosure Letter.

      

      

      3.         Transfer of Subject Securities; New Subject Securities.  The Shareholder will not sell, transfer, pledge, encumber, assign, grant an option with respect to, hedge, swap, convert
        or otherwise dispose of (collectively, “Transfer”), or enter into any contract, option, put, call or other arrangement or understanding with respect to the Transfer of, any of the Subject Securities or any interest therein prior to the
        Closing.

      

      

      4.          Remedies.

    

    
      (a)          The Shareholder expressly acknowledges and agrees that (i) it is receiving good and valuable consideration sufficient to make this Agreement, and each of the terms herein, binding and
        fully enforceable, each of the restrictions contained in this Agreement are supported by adequate consideration and are reasonable in all respects (including with respect to subject matter, time period and geographical area) and such restrictions
        are necessary to protect the Company’s, Topco’s and SEAC’s interest in, and value of, the Company’s business (including the goodwill inherent therein), (ii) the Shareholder (together with the other shareholders of Topco (and, following the
        Pre-Closing Reorganization, the Company)) is primarily responsible for the creation of such value and (iii) the Company, Topco and SEAC would not have entered into the BCA and this Agreement or consummated the transactions contemplated thereby or
        hereby without the restrictions contained in this Agreement.

       

      

    

    
      4

      
        

    

    
      (b)        The Parties acknowledge and agree that the amount of actual damages suffered by Topco, the Company and SEAC in the event of an actual or threatened breach of this Agreement would be
        difficult or impossible to accurately calculate and there may be irreparable damages to Topco, the Company or SEAC in the event of such an actual or threatened breach. Consequently, the Parties agree that in addition to any other remedy or relief
        to which it may be entitled, in the event of a breach or threatened breach of this Agreement, Topco, the Company, SEAC or their respective successors and assigns shall be entitled to an injunction or injunctions to prevent breaches of any of the
        terms or provisions of this Agreement, and to enforce specifically the performance by the Shareholder. The Shareholder hereby agrees to waive any defense in any suit that Topco, the Company or SEAC has an adequate remedy at Law and hereby agrees to
        waive any requirement to post any bond in connection with obtaining such relief.

      

      

      (c)         If the final judgment of a court of competent jurisdiction declares that any term or provision of this Agreement is invalid or unenforceable, the Parties agree that the court making the
        determination of invalidity or unenforceability shall have the power to reduce the scope, duration or area of the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with a term or
        provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified after the expiration of the time within which the
        judgment may be appealed.

      

      

      (d)         Notwithstanding anything to the contrary set forth herein, the Parties acknowledge and agree that this Section 4 is not intended to be, and is not, an admission or
        acknowledgement by any Person that money damages or any other monetary payment would be a sufficient remedy for a breach of this Agreement, or that the inability to obtain a monetary remedy by virtue of the limitations in this Section 4
        will limit a Party’s ability to obtain injunctive relief or specific performance in accordance with this Section 4. Except as otherwise expressly provided herein, any and all remedies provided herein will be deemed cumulative with and not
        exclusive of any other remedy conferred hereby, or by Law or equity upon such Party, and the exercise by a Party of any on remedy will not preclude the exercise of any other remedy.

    

    
      

      

      5.          Shareholder Representations and Warranties.  The Shareholder represents and warrants to Topco, the Company and SEAC (solely with respect to the Shareholder and not with respect
        to any other shareholder of Topco, the Company and SEAC) that:

    

    
      

      

      (a)          (i) if such Shareholder is a corporation, limited liability company, partnership, trust, proprietorship or other legal entity, it has all necessary corporate, limited liability
        company, limited partnership or other applicable power and authority (or, if the Shareholder is a natural person, the Shareholder has the legal capacity) to execute and deliver this Agreement and to perform the Shareholder’s obligations hereunder;
        (ii) the execution, delivery and performance of this Agreement and the transactions contemplated by this Agreement by such Shareholder have been duly and validly authorized by all necessary action on the part of such Shareholder; (iii) the
        execution, delivery and performance of this Agreement and the transactions contemplated by this Agreement by such Shareholder will not, directly or indirectly (with or without notice or lapse of time), contravene, conflict with or result in a
        violation of, if the Shareholder is an entity, the organizational documents of the Shareholder or such Shareholder’s Affiliates; and (iv) the execution and delivery of this Agreement does not, and the performance by the Shareholder of the
        Shareholder’s obligations hereunder will not, result in the creation or imposition of any Lien upon the Subject Securities.

      

      

    

    
      5

      
        

    

    
      (b)          The Shareholder has duly and validly executed this Agreement, this Agreement is a legal, valid and binding obligation of the Shareholder, enforceable against the Shareholder in
        accordance with the terms set forth herein (except as such enforceability (x) may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization or other similar applicable Laws affecting or relating to enforcement of creditors’ rights
        generally and (y) is subject to general principles of equity), and the Shareholder is the sole legal and beneficial owner of, and has good and valid title, to, all of the Subject Securities, and there exist no Liens or any other limitation or
        restriction (including any restriction on the right to vote, sell or otherwise dispose of the Subject Securities), other than pursuant to the articles of incorporation of Topco or the Company (as applicable) from time to time or any restrictions on
        transfer arising under applicable securities Laws. The Shareholder has the sole right to vote the Subject Securities, and, none of the Subject Securities are subject to any proxy, voting trust or other similar agreement or arrangement other than
        pursuant to the articles of incorporation of Topco or the Company (as applicable) from time to time, or any restrictions on transfer arising under applicable securities Laws. The Current Shares are the only equity securities of Topco owned legally
        or beneficially by such Shareholder on the date hereof, and except as set forth on Schedule A hereto, the Shareholder does not own beneficially or legally have the right to acquire, or have any other interest in, any other equity securities
        of Topco or any of its Subsidiaries, or any rights to acquire, or any securities that are convertible into, any of the foregoing.

      

      

      (c)        The Shareholder has received a copy of the BCA, the Registration Rights Agreement and the Lock-Up Agreement substantially in the form of which (subject to the terms and conditions
        hereof) such Shareholder shall become a party to the Registration Rights Agreement in such Shareholder’s capacity as a Holder (as such term is defined therein) and the Lock-Up Agreement in such Shareholder’s capacity as a Securityholder (as such
        term is defined therein) at the Closing, as applicable, and have the rights, and be subject to the obligations set forth therein.

      

      

      (d)         The Shareholder (i) except as provided in this Agreement, has full voting power, full power of disposition and full power to issue instructions with respect to the matters set forth
        herein, in each case, with respect to the Subject Securities, (ii) has not entered into any voting agreement or voting trust with respect to any of the Subject Securities that is inconsistent with the Shareholder’s obligations pursuant to this
        Agreement, (iii) has not granted a proxy or power of attorney with respect to any of the Subject Securities that is inconsistent with the Shareholder’s obligations pursuant to this Agreement and (iv) has not entered into any agreement or
        undertaking that is otherwise inconsistent with, or would interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement.

      

      

      (e)        There is no Proceeding pending or, to the Shareholder’s knowledge, threatened against the Shareholder that, if adversely decided or resolved, would reasonably be expected to adversely
        affect the ability of the Shareholder to perform, or otherwise comply with, any of its covenants, agreements or obligations under this Agreement in any material respect.

    

    
      

      

    

    
      6

      
        

    

    
      6.          Termination; Amendments and Waivers; Assignment.

    

    
      

      

      (a)          This Agreement shall automatically terminate, without any notice or other action by any Party, and be void ab initio upon the valid
        termination of the BCA pursuant to Article 7 thereof and, upon such termination shall be of no further force and effect, without the creation or imposition of any penalty, liability or obligation upon any Party.  Upon termination of this Agreement
        as provided in the immediately preceding sentence, none of the Parties shall have any further obligations or Liabilities under, or with respect to, this Agreement.  Notwithstanding the foregoing or anything to the contrary in this Agreement, the
        termination of this Agreement pursuant to this Section 6(a) shall not affect any Liability on the part of any Party for a willful breach of any covenant or agreement set forth in this Agreement prior to such termination or Fraud.

      

      

      (b)        Any provision of this Agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed by the Shareholder, SEAC, Topco and the Company.
        Notwithstanding the foregoing, no failure or delay by any Party in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise of any other right
        hereunder. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assignable by the Shareholder without Topco’s, the Company’s and SEAC’s prior written consent.

      

      

      (c)        None of the representations, warranties, covenants and agreements set forth in this Agreement shall survive the Closing, except for Sections 1, 2, 4 and 6
        hereof.

    

    
      

      

      7.          Notices.  All notices, demands and other communications to be given or delivered under this Agreement shall be in writing and shall be deemed to have been given (a) when
        personally delivered (or, if delivery is refused, upon presentment) or received by email (with confirmation of transmission) prior to 5:00 p.m. eastern time on a Business Day and, if otherwise, on the next Business Day, (b) one (1) Business Day
        following sending by reputable overnight express courier (charges prepaid) or (c) three (3) calendar days following mailing by certified or registered mail, postage prepaid and return receipt requested. Unless another address is specified in
        writing pursuant to the provisions of this Section 7, notices, demands and other communications shall be sent to the addresses indicated below:

    

    
      

      

      
        	 	
                (a)

              	
                If to Topco, to:

              
	 	 	
                SGHC Limited

              
	 	 	
                Kingsway House, Havilland Street

              
	 	 	
                St. Peter Port, Guernsey

              
	 	 	
                GYI 2QE

              
	 	 	
                Attention:

              	
                Sarah Imossi

              
	 	 	
                Email:

              	
                sarah@sghc.com

              

      

      

      

    

    
      7

      
        

    

    
      	 	
              With copies (which shall not constitute notice) to:

            
	 	 	 	 
	 	 	
              Cooley (UK) LLP

            
	 	 	
              Dashwood

            
	 	 	
              69 Old Broad Street

            
	 	 	
              London EC2M 1QS, UK

            
	 	 	
              Attention: Justin Stock, Garth Osterman and Miguel J. Vega

            
	 	 	
              Email: jstock@cooley.com, gosterman@cooley.com and mvega@cooley.com

            
	 	 	 
	 	
              (b)

            	
              If to the Company, to:

            
	 	 	 
	 	 	
              Super Group (SGHC) Limited

            
	 	 	
              Kingsway House, Havilland Street

            
	 	 	
              St. Peter Port, Guernsey

            
	 	 	
              GYI 2QE

            
	 	 	
              Attention:

            	
              Sarah Imossi

            
	 	 	
              Email:

            	
              sarah@sghc.com

            
	 	 
	 	
              With copies (which shall not constitute notice) to:

            
	 	 
	 	 	
              Cooley (UK) LLP

            
	 	 	
              Dashwood

            
	 	 	
              69 Old Broad Street

            
	 	 	
              London EC2M 1QS, UK

            
	 	 	
              Attention: Justin Stock, Garth Osterman and Miguel J. Vega

            
	 	 	
              Email: jstock@cooley.com, gosterman@cooley.com and mvega@cooley.com

            
	 	 	 
	 	
              (c)

            	
              If to SEAC, to:

            
	 	 	 
	 	 	
              Golden Bear Plaza

            
	 	 	
              11760 US Highway 1, Suite W506

            
	 	 	
              North Palm Beach, FL 33408

            
	 	 	
              Attention:

            	
              Eric Grubman; John Collins

            
	 	 	
              Email:

            	
              ericgrubman@comcast.net; jcollins@seahllc.com

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

            
	 	 
	 	 	
              Ropes & Gray LLP

            
	 	 	
              1211 Avenue of the Americas

            
	 	 	
              New York NY 10036

            
	 	 	
              Attention: Carl Marcellino, Paul Tropp and Rachel Phillips

            
	 	 	
              E-mail: carl.marcellino@ropesgray.com, paul.tropp@ropesgray.com; and rachel.phillips@ropesgray.com

            

    

    
      

      

      (d)          If to the Shareholder, to the address and contact information set forth on the Shareholder’s signature page hereto.

    

    or to such other address as the Party to whom notice is given may have previously furnished to the other Party in writing in the manner set forth above.

    
      

      

    

    
      8

      
        

    

    
      8.           Miscellaneous.

    

    
      

      

      (a)        Entire Agreement.  This Agreement, the BCA, the Registration Rights Agreement, the Ancillary Agreements and the documents referred to herein and therein constitute the entire
        agreement of the Parties with respect to the subject matter of this Agreement, and supersede all prior agreements and undertakings, both written and oral, among the parties to this Agreement with respect to the subject matter of this Agreement,
        except as otherwise expressly provided in this Agreement.

      

      

      (b)         No Third Party Beneficiaries.  This Agreement shall be for the sole benefit of the Parties and their respective successors and permitted assigns and the Released Entities and is
        not intended, nor shall be construed, to give any Person, other than the Parties and their respective successors and assigns and the Released Entities, any legal or equitable right, benefit or remedy of any nature whatsoever by reason this
        Agreement. Nothing in this Agreement, expressed or implied, is intended to or shall constitute the Parties, partners or participants in a joint venture.

      

      

      (c)        Further Assurances.  The Shareholder hereby agrees to use the Shareholder’s best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things
        reasonably necessary under applicable Laws to consummate the Transactions on the terms and subject to the conditions set forth in the BCA and the Ancillary Agreements.

      

      

      (d)         Other Provisions.  Sections 6.10 (Communications; Press Release; SEC Filings), 8.5 (Severability), 8.6 (Interpretation), 8.8 (Counterparts; Electronic Delivery) and 8.9
        (Governing Law; Waiver of Jury Trial; Jurisdiction) of the BCA are incorporated herein by reference, mutatis mutandis.

    

    
       

      

      {Signature pages follow}

      

      

    

    
      9

      
        

    

    IN WITNESS WHEREOF, the Parties have executed and delivered this Transaction Support Agreement as of the date first above written.

    

    

    	 	
            SUPER GROUP (SGHC) LIMITED

          
	 	 

    	 	
            By:

          	

          
	 	
            Name:

          
	 	
            Title:

          

    
       

      

      [Signature Page to Transaction Support Agreement]

       

      

    

    
      
        

    

    	 	
            SGHC LIMITED

          
	 	 

    	 	
            By:

          	

          
	 	
            Name:

          
	 	
            Title:

          

     

    

     [Signature Page to Transaction Support Agreement] 

     

    

    
      
        

    

    	 	
            SPORTS ENTERTAINMENT 

            ACQUISITION CORP.

          
	 	 

    	 	
            By:

          	

          
	 	
            Name:

          
	 	
            Title:

          

     

    

    
      [Signature Page to Transaction Support Agreement]

       

      

    

    
      
        

    

    	 	
            SHAREHOLDER:

          
	 	 
	 	
            [•]

          
	 	 
	 	 
	 	
            Name:

          
	 	
            Title:

          
	 	
            Date: ______, 2021

          
	 	 
	 	
            Notice Address:

          
	 	
            [•]

          
	 	
            [•]

          
	 	
            E-mail:         [•]

          
	 	
            Attention:     [•]

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

          
	 	 
	 	
            [•]

          
	 	
            [•]

          
	 	
            E-mail:         [•]

          
	 	
            Attention:     [•]

          

    
      
         

        

        [Signature Page to Transaction Support Agreement]

         

        

      

    

    
      
        

    

    
      Exhibit A

      

      

      (See attached)

       

      

    

    
      
        

    

    
      Exhibit B

      

      

      (See attached)

       

      

    

    
      
        

    

    
      Exhibit C

       

        

      (See attached)Exhibit 10.8

      

    

     

    

    DATED     ______________________ 2021

    

    

    THE SELLER

     

    

    and

     

    

    SUPER GROUP (SGHC) LIMITED

    

    

    
      

    SHARE BUYBACK AGREEMENT

    RELATING TO SHARES IN SUPER GROUP (SGHC) LIMITED

    
      

    

    

    
      
        

    

    CONTENTS

     

    

    	
            CLAUSE

          	 	
            PAGE

          
	
            1.

          	
            Definitions and Interpretation

          	
            3

          
	
            2.

          	
            Sale and purchase of NewCo Common Shares

          	
            4

          
	
            3.

          	
            Warranties

          	
            6

            

          
	
            4.

          	
            Further assurance

          	
            7

            

          
	
            5.

          	
            Assignment

          	
            7

            

          
	
            6.

          	
            Costs

          	
            7

            

          
	
            7.

          	
            Constitution of this Agreement

          	
            7

            

          
	
            8.

          	
            Rights

          	
            8

            

          
	
            9.

          	
            Third Parties

          	
            8

            

          
	
            10.

          	
            Notices

          	
            8

            

          
	
            11.

          	
            Agreement survives Completion

          	
            9

            

          
	
            12.

          	
            Confidentiality

          	
            9

            

          
	
            13.

          	
            Governing law and jurisdiction

          	
            9

            

          

    

    

    
      
        

    

    
    THIS AGREEMENT is made on ______________________ 2021

    

    

    BETWEEN:

    

    

    	(1)	
            [__________________ as trustees of ____________________________
                (the "Trust")] of _________________________________]  (the “Seller”)1; and

          

    

    

    	(2)	
            Super Group (SGHC) Limited, a non-cellular company limited by
                shares incorporated in the island of Guernsey with company number 69022 and having its registered office address at Kingsway House, Havilland Street, St Peter Port, Guernsey GY1 2QE (the “Company”),

          

    

    

    each a “party” and together, the “parties”.

    

    

    BACKGROUND:

    

    

    	(A)	
            The Company, SGHC Limited, a non-cellular company limited by shares incorporated in the Island of Guernsey (“SGHC”), and Sports Entertainment Acquisition Corp., a Delaware corporation (the “SPAC”), among others, entered into a Business Combination Agreement dated as of April 23, 2021 (the “BCA”), pursuant to which the parties agreed that, among other
              things, (i) on the Closing Date, immediately prior to the Closing, the Company and SGHC will undergo a pre-closing reorganization as set forth in Section 2.1(a) of the BCA which provides for, among other things, the exchange by the
              Pre-Closing Holders, of all the issued shares of SGHC for Newco Common Shares (the "Share for Share Exchange"), and (ii) following the Merger Effective Time, the Company shall repurchase NewCo Common
              Shares from certain Pre-Closing Holders for cash consideration equal to $10.00 per NewCo Common Share (as defined below).

          

    

    

    	(B)	
            Newco, SGHC, the SPAC and the Pre-Closing Holders have entered into separate transaction support agreements relating to each such Pre-Closing Holder dated as of April 23, 2021, in accordance with the terms of the BCA, (each a “Transaction Support Agreement” and together the “Transaction Support Agreements”), pursuant to which each such Pre-Closing Holder appointed and granted to SGHC full
              power to act as its true and lawful representative, agent and attorney-in-fact, among other things, to execute such agreements and documents as might be necessary to implement all steps involved in the Pre-Closing Reorganization as set out in
              the BCA and the Transaction Support Agreements (the “Power of Attorney”).

          

    

    

    	(C)	
            NewCo, SGHC, and the Pre-Closing Holders have entered into an Exchange Agreement, pursuant to which the Company will issue to each such Pre-Closing Holder ordinary redeemable shares of no par value of the Company (the “NewCo Common Shares” and each a “NewCo Common Share”).

          

    

    

    

    1 Note to Draft: To be amended as appropriate for the relevant Seller entity; provided that Knutsson Limited and Peregrine
      Offshore Services Ltd as Trustees of the Chivers Trust will not be executing a Repurchase Agreement.

     

    

    
      2

      
        

    

    	(D)	
            The Seller has agreed to sell and the Company, in exercise of its powers conferred by section 314(1) of the Companies (Guernsey) Law, 2008, as amended (the "Law")  has agreed to buy from Seller
              _________ percent (__%) of the Seller’s NewCo Common Shares  (the “Target Sale Shares”), or such lesser number of NewCo Common Shares as adjusted where applicable
              by the provisions of clause 2.1.1, and otherwise subject to the terms of this Agreement.

          

    

    

    	(E)	
            By a written special resolution dated [•], 2021, the Company's shareholders have authorised the Company’s entry into this Agreement and the terms hereunder, for the purposes of section 314 of the Law.

          

    

    

    	(F)	
            It is noted that once purchased by the Company, the Sale Shares shall be cancelled.

          

    

    

    	1.	
            Definitions and Interpretation

          

    

    

    	1.1	
            Capitalised terms not otherwise defined herein shall have the meaning given to them in the BCA.

          

    

    

    	1.2	
            In this Agreement, the words and expressions set out below shall have the following meanings.

          

    

    

    "Aggregate Target Sale Shares" means the maximum number of NewCo Common Shares to be acquired by the Company from the Pre-Closing Holders pursuant to the
      terms and conditions of the BCA (including Section 2.2(c)(iv) thereof) and separate share repurchase agreements in substantially the same form as this Agreement, on the basis that the Company has sufficient Available Distributable Cash to purchase
      such shares at $10 per share;

    

    

    "BCA" has the meaning given in Recital (A);

    

    

    "Business Day" means any day other than a Saturday or a Sunday or public holiday in the State of New York, United States, London, England or Guernsey,
      Channel Islands;

    

    

    “Completion” has the meaning given in clause 2.3;

    

    

    “Encumbrance” means any mortgage, charge, security interest, lien, pledge, assignment by way of security, equity, claim, right of
      pre-emption, option, covenant, restriction, reservation, lease, trust, order, decree, judgment, title defect (including, without limitation, any retention of title claim), conflicting claim of ownership or any other encumbrance of any nature
      whatsoever (whether or not perfected other than liens arising by operation of law);

    

    

    "Law" has the meaning given in Recital (D);

    

    

    "NewCo Common Shares" and "NewCo Common Share"
      has the meaning given in Recital (C).

    

    

    “Power of Attorney” has the meaning given in Recital (B);

    

    

    “Purchase Price” has the meaning given in clause 2.1;

    

    

    "Sale Shares" means the Target Sale Shares as defined in Recital (D) or such lesser number of NewCo Common Shares as calculated in
      accordance with Clause 2.1.1;

    

    

    “SGHC” has the meaning given in Recital (A);

    

    

    
      3

      
        

    

    "Share for Share Exchange" has the meaning given in Recital (A);

    

    

    "SPAC" has the meaning given in Recital (A);

    

    

    "Target Sale Shares" has the meaning given in Recital (D); and

    

    

    “Transaction Support Agreement” and “Transaction Support Agreements” have the meaning given in
      Recital (B).

    

    

    In this Agreement, unless the context otherwise requires:

    

    

    	

          	1.2.1	
            the masculine gender shall include the feminine and vice versa;

          

    

    

    	

          	1.2.2	
            references to any person shall include any individual, body corporate and unincorporated association;

          

    

    

    	

          	1.2.3	
            references to any party include a reference to the estate, legal personal representative, successor, or permitted assigns of that party;

          

    

    

    	

          	1.2.4	
            references to time are to Guernsey time;

          

    

    

    	

          	1.2.5	
            any reference to a clause is to a clause of this Agreement;

          

    

    

    	

          	1.2.6	
            headings and sub-headings are inserted for convenience only and shall not affect the construction of this Agreement;

          

    

    

    	

          	1.2.7	
            references to “$” or “dollars” shall mean the United States Dollar; and

          

    

    

    	

          	1.2.8	
            general words shall not be given a restrictive meaning by reason of the fact that they are followed by particular examples intended to be embraced by the general terms.

          

    

    

    	2.	
            Sale and purchase of NewCo Common Shares

          

    

    

    	2.1	
            Subject to (i) the provisions of the Companies (Guernsey) Law, 2008, as amended, (ii) completion of the Share for Share Exchange and (iii) subclause 2.1.1, the Seller agrees to sell and transfer the legal and beneficial interest to the
              Sale Shares free from all Encumbrances and together with all rights that attach (or may in the future attach) to them for a price per Sale Share of $10 (ten dollars) (the “Purchase Price”) to the
              Company and the Company agrees to purchase the Sale Shares and to pay the aggregate Purchase Price to the Seller.

          

    

    

    	

          	2.1.1	
            In the event that, immediately after the Closing, NewCo has insufficient Available Distributable Cash pursuant to Section 2.2(c)(iv) of the BCA to purchase the Aggregate Target Sale Shares at the Purchase Price, the number of Sale Shares
              to be sold pursuant to this clause 2.1 shall be reduced to such number of Sale Shares as may be determined pursuant to the following formula:

          

    

    

    (Y/Z)*(A/B)

    

    

    
      4

      
        

    

    Where:

    

    

    Y is the total Available Distributable Cash that is available to pay the aggregate Purchase Price of this Agreement and the aggregate Purchase Price of each other Share Buyback Agreement executed
      by NewCo and other Pre-Closing Holders in connection with the Closing

    

    

    Z is $10, being the Purchase Price

    

    

    A is the number of Target Sale Shares contemplated by this Agreement and

    

    

    B is the number of Aggregate Target Sale Shares contemplated by each Share Buyback Agreement executed by NewCo and each of the Pre-Closing Holders in connection with the Closing including, for the
      avoidance of doubt, the Target Sale Shares contemplated by this Agreement.

    

    

    	2.2	
            The Seller hereby consents to the sale of the Sale Shares in accordance with the terms of this Agreement pursuant to section 313(3) of the Law.

          

    

    

    	2.3	
            Completion of the sale and purchase of the Sale Shares (“Completion”) shall take place immediately following and conditioned upon the Closing, when:

          

    

    

    	

          	2.3.1	
            the Seller, or SGHC through the Power of Attorney, as the case may be, shall:

          

    

    

    	

          	2.3.1.1	
            deliver to the Company the share certificate(s) or other evidence of title to the Sale Shares (if any) (or an indemnity for any missing or damaged share certificates in a form acceptable to the Company, where share certificates have been
              issued); and

          

    

    

    	

          	2.3.1.2	
            execute and deliver to the Company any other documents which are necessary to give effect to the transfer of the Sale Shares.

          

    

    

    	

          	2.3.2	
            subject to the Seller's compliance with clause 2.3.1, the Company shall satisfy its obligation to pay the Purchase Price to the Seller by way of electronic transfer of immediately available funds to the Seller's bank account as notified to
              the Company in writing at least five (5) Business Days prior to Closing for such purposes and shall procure that the register of members of the Company shall be written up to reflect the transfer and subsequent cancellation of the Sale
              Shares.

          

    

    

    	2.4	
            The parties agree that the Company shall be entitled to cancel any share certificate(s) relating to the Sale Shares immediately following Completion without any further action or authority from the Seller.

          

    

    

    	2.5	
            The Company shall not be obliged to complete the purchase of any of the Sale Shares unless the purchase of all the Sale Shares is completed simultaneously.

          

    

    

    
      5

      
        

    

    	3.	
            Warranties

          

    

    

    	3.1	
            The Seller warrants to the Company on the date of this Agreement and immediately prior to Completion that:

          

    

    

    	

          	3.1.1	
            the Seller is the sole legal owner of the Sale Shares and the beneficiary[ies] of the Trust [is/are] the sole beneficial owner[s] and the Seller is entitled, and has the right, to transfer the entire legal and beneficial title to the Sale
              Shares to the Company free from all Encumbrances, without the consent of any other person; / the Seller is the sole legal and beneficial owner of the Sale Shares and is entitled, and has the right, to transfer the entire legal and beneficial
              title to the Sale Shares to the Company free from all Encumbrances, without the consent of any other person;

          

    

    

    	

          	3.1.2	
            this Agreement and the other documents referred to in it constitute (or shall constitute when executed) valid, legal and binding obligations on the Seller in the terms of this Agreement and such other documents;

          

    

    

    	

          	3.1.3	
            entry into and compliance with the terms of this Agreement and the documents referred to in it shall not breach or constitute a violation, breach or default under any of the following:

          

    

    

    	

          	3.1.3.1	
            any agreement or instrument to which the Seller is a party or by which it is bound;

          

    

    

    	

          	3.1.3.2	
            any order, judgment, decree or other restriction applicable to the Seller;

          

    

    

    	

          	3.1.3.3	
            any applicable laws or regulations or of any order, decree, judgment, decision or requirement of any authority applicable to the Seller; or

          

    

    

    	

          	3.1.3.4	
            a requirement for the Seller to obtain any consent or approval of, or give any notice to or make any registration with, any authority which has not been obtained or made;

          

    

    

    	

          	3.1.4	
            the Seller is not in a state of bankruptcy or similar status under the laws of any relevant jurisdiction by reason of the relevant officer being appointed or court order being granted, and no petition has been presented, court order made,
              court process started, resolution passed or meeting convened in relation to any bankruptcy process or similar status under the laws of any relevant jurisdiction;

          

    

    

    	3.2	
            Save as provided in clause 3.3, the warranties in clause 3.1 shall continue in full force and effect notwithstanding Completion, but shall expire 12 months after the Closing Date.

          

    

    
      6

      
        

    

    	3.3	
            Nothing in clause 3.2 shall apply to, exclude or limit the liability of the Seller if and to the extent that a Claim arises or is delayed as a result of dishonesty, fraud, wilful misconduct or wilful concealment by the Seller, its agents
              or advisers, all of which Claims shall survive indefinitely.

          

    

    

    	3.4	
            Save for the warranties given in clause 3.1, the parties give no other warranties or representations to the other of them.

          

    

    

    	4.	
            Further assurance

          

     

    

    The Seller shall promptly execute and deliver such documents and perform such acts as the Company may require from time to time for the purpose of giving full effect to this Agreement.

    

    

    	5.	
            Assignment

          

     

    

    No party shall assign, transfer, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any of its rights and obligations under this Agreement.

    

    

    	6.	
            Costs

          

    

      Each party shall pay the costs and expenses incurred by him or it in connection with the entering into and completion of this Agreement.

    

    

    	7.	
            Constitution of this Agreement

          

    

    

    	7.1	
            Subject to clause 7.2, this Agreement, together with the documents referred to in it, contain the entire agreement between the parties relating to the transactions contemplated by this Agreement and replaces and extinguishes all prior
              drafts, previous agreements, arrangements and understandings, whether in writing or oral, between the parties relating to these transactions except to the extent that they are repeated in this Agreement.

          

    

    

    	7.2	
            Nothing in this clause 7.2 operates to:

          

    

    

    	

          	7.2.1	
            limit, affect or exclude any obligations or rights contained in the BCA or any other Ancillary Agreement or the Articles; or

          

    

    

    	

          	7.2.2	
             limit or exclude any liability for fraud.

          

    

    

    	7.3	
            This Agreement may be executed in any number of counterparts, but shall not be effective until each party has executed at least one counterpart, all of which, taken together shall constitute one and the same Agreement and any party may
              enter into this Agreement by executing a counterpart.

          

    

    

    	7.4	
            No variation of this Agreement shall be effective unless made in writing and signed by each of the parties.

          

    

    

    
      7

      
        

    

    	8.	
            Rights

          

    

    

    	8.1	
            The rights, powers, privileges and remedies provided in this Agreement are cumulative and are not exclusive of any rights, powers, privileges or remedies provided by law or otherwise.

          

    

    

    	8.2	
            No failure to exercise nor any delay in exercising any right, power, privilege or remedy under this Agreement shall in any way impair or affect its exercise or operate as a waiver in whole or in part.

          

    

    

    	8.3	
            No single or partial exercise of any right, power, privilege or remedy under this Agreement shall prevent any further or other exercise or the exercise of any other right, power, privilege or remedy.

          

    

    

    	8.4	
            The provisions of this Agreement shall remain in full force and effect notwithstanding Completion.

          

    

    

    	8.5	
            This Agreement shall be binding upon and benefit the successors of the parties.

          

    

    

    	9.	
            Third Parties

          

    

    

    	9.1	
            Except where expressly stated in this Agreement to the contrary:

          

    

    

    	

          	9.1.1	
            save for the rights granted to the Company in this Agreement, a person who is not a party to this Agreement (or his successors or permitted assignees) has no rights to enforce or enjoy the benefit of any term of this Agreement;

          

    

    

    	

          	9.1.2	
            no termination, amendment, compromise, waiver or settlement of this Agreement or any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) requires the
              consent of any person who is not a party to it.

          

    

    

    	10.	
            Notices

          

    

    

    	10.1	
            Any notice given to a party under or in connection with this Agreement shall be in writing and shall be:

          

    

    

    	

          	10.1.1	
            delivered by hand or by pre-paid first-class post or other next working day delivery service at the address specified for such party on page 1 of this Agreement; or

          

    

    

    	

          	10.1.2	
            sent by electronic mail to the email address notified in writing to the other party by the relevant party.

          

    

    

    	10.2	
            Any notice shall be deemed to have been received:

          

    

    

    	

          	10.2.1	
            if delivered by hand, on signature of a delivery receipt or at the time the notice is left at the proper address;

          

    

    

    
      8

      
        

    

    	

          	10.2.2	
            if sent by pre-paid first-class post or other next working day delivery service, at 9.00 am on the second Business Day after posting or at the time recorded by the delivery service; or

          

    

    

    	

          	10.2.3	
            if sent by email:

          

    

    

    	

          	10.2.3.1	
            if before 5:30pm on a Business Day, on that Business Day; or

          

    

    

    	

          	10.2.3.2	
            if after 5:30pm on a Business Day or on a day that is not a Business Day, at 09:00am on the next Business Day after transmission.

          

    

    

    	10.3	
            This clause 10 does not apply to the service of any proceedings or other documents in any legal action or, where applicable, any arbitration or other method of dispute resolution.

          

    

    

    	11.	
            Agreement survives Completion

          

     

    

    This Agreement (other than obligations that have already been fully performed) remains in full force following Completion.

    

    

    	12.	
            Confidentiality

          

    

    

    	12.1	
            The Parties hereby agree with each other that they shall treat as confidential the provisions of this Agreement and shall not make any disclosure of its terms, save to the extent that such disclosure is required pursuant to any law or
              regulatory rule or requirement applicable in respect of the Party making such disclosure.

          

    

    

    	12.2	
            The Parties hereby agree with each other that the confidentiality of each Party is paramount and the Parties acknowledge and accept that a redacted executed version of this Agreement shall constitute a valid and binding version of this
              Agreement.

          

    

    

    	13.	
            Governing law and jurisdiction

          

    

    

    	13.1	
            This Agreement (and any dispute or claim relating to it or its subject matter (including non-contractual disputes or claims)) is governed by and is to be construed in accordance with the laws of the island of Guernsey.

          

    

    

    	13.2	
            The parties irrevocably agree that the courts of the island of Guernsey shall have exclusive jurisdiction to settle any dispute, claim or issue (including non-contractual disputes or claims) which may arise out of or in connection with
              this Agreement.

          

    

    

    THIS AGREEMENT has been entered into on the date
        stated at the beginning of it.

    

    

    
      9

      
        

    

    	
            Signed by SUPER GROUP (SGHC) LIMITED

          	
            )

            )

          	

          
	 	

          	
            Director

          

    

    

    	
            Signed by [_______________________ as

          	
            )

          	 
	
            trustee of ________________________]

          	
            )

          	 
	 	 	
            Authorised Signatories

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