Document:

Exhibit
10.34

 

October
13, 2021

 

Esports
Entertainment Group, Inc.

13/14
Penthouse Office

Mannarino
Road

Birkirkara,
Malta, BKR 9080

Attn:
Grant Johnson

 

VIA
ELECTRONIC MAIL

 

	 	Re:	Waiver

 

Dear
Mr. Johnson:

 

Reference
is made to that certain Securities Purchase Agreement, dated as of May 28, 2021 (the “Purchase Agreement”), between
Esports Entertainment Group, Inc. (the “Company”) and Alto Opportunity Master Fund, SPC – Segregated Master
Portfolio B (the “Purchaser” and together with the Company, the “Parties”). Defined terms used
herein but not defined herein shall have the meanings ascribed to such terms in the Purchase Agreement and the Note (as defined in the
Purchase Agreement).

 

For
good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Purchaser hereby waives (this agreement,
the “Waiver”):

 

	 	(i)	the
    Purchaser’s rights pursuant to Section 4(b) of the Note arising from any breaches or potential breaches by the Company or its
    Subsidiaries of the covenants set forth in Sections 14(l), 14(o)(i), and 14(o)(iv) of the Note, as of the date hereof through December
    25, 2021 only;
	 	 	 
	 	(ii)	the
    Purchaser’s rights pursuant to Section 4(b) of the Note arising from any breaches of Section 14(c) of the Note, solely relating
    to any lien on and a pledge of a maximum of 25,101,200 ordinary shares of Prozone Limited, a Maltese limited liability company (“Prozone”),
    granted by the Company in favor of Gameday Group PLC, a Maltese limited liability company (“Gameday”), in connection
    with the Pledge of Shares Agreement, dated as of July 13, 2021, as amended, by and among Gameday, Prozone and the Company, as of
    the date hereof through December 25, 2021 only, provided that such liens and pledge shall not be amended or renewed at any time following
    the date hereof and the Pledge of Shares Agreement shall not be amended at any time following the date hereof; and
	 	 	 
	 	(iii)	in
    connection with the Company’s proposed purchase of certain equity interests in Game Fund Partners Group LLC, a Florida limited
    liability company (the “Fund”), for consideration of 200,000 shares of the Company’s common stock (the “Common
    Stock”) to be issued to the Fund in two tranches of 100,000 shares of Common Stock per tranche, the prohibition against
    issuances of Common Stock set forth in Section 4.13(a) of the Purchase Agreement solely in connection with the issuance of an aggregate
    of 200,000 shares of Common Stock to the Fund, provided that such 200,000 shares of Common Stock shall be issued for per share consideration
    of not less than $17.50 per share (as adjusted for reverse and forward stock splits and recapitalizations of the Common Stock after
    the date hereof until the date of such issuance).

 

    	 

     

    

 

In
addition, the Parties hereby agree that Section 14(o)(iii) of the Note shall be deemed in a manner to replace “25%” with
“35%” for the period from the date hereof through December 25, 2021 only, and “25%” shall be restored, and “35%”
shall no longer apply, in Section 14(o)(iii) of the Note as of December 26, 2021 and each date thereafter. The Company acknowledges and
agrees that “25%” shall apply on November 10, 2021 and each date thereafter for purposes of the thirty consecutive Business
Days period in Section 14(o)(iii) of the Note.

 

The
Company and the Purchaser hereby agree that the waiver by the Purchaser set forth in clauses (i), (ii) and (iii) above and the agreement
in the paragraph following such clauses is conditional upon, and subject to, the Company’s filing of its Annual Report on Form
10-K for the fiscal year ended June 30, 2021 (“Form 10-K”) with the Commission prior to 5:30 p.m. EST on October 13,
2021 and if the Form 10-K is not filed with the Commission prior to 5:30 p.m. EST on October 13, 2021, this waiver is null and void,
ab initio.

 

In
consideration of the waiver and agreement set forth herein, the Company hereby acknowledges and agrees that the Purchaser shall be permitted
to immediately convert up to $7,500,000 of Principal under the Note into validly issued, fully paid and non-assessable shares of Common
Stock pursuant to Section 3(e) of the Note. The Company hereby represents, warrants, covenants and agrees to the Purchaser that the number
of shares of Common Stock in the Purchaser’s Exchange Cap Allocation is 2,733,364 shares of Common Stock as of the date hereof.

 

The
waiver set forth herein constitutes a one-time waiver only and is limited to the matters expressly waived as set forth herein and should
not be construed as an indication that the Purchaser has agreed to any modifications to, consent of, or waiver of any other terms or
provisions of the Purchase Agreement, the Note or any Transaction Document or any other agreement, instrument or security. The Parties
agree that nothing herein shall have any effect upon the Holder’s right to convert the Principal under the Note at its discretion
in any manner provided for in the Transaction Documents.

 

The
Company hereby represents, warrants, covenants and agrees to the Purchaser that nothing contained herein or otherwise disclosed to the
Purchaser or any of its affiliates by the Company, orally or in writing, constitutes or may constitute material non-public information.
Effective upon the Disclosure Filing (as defined below), the Company shall have disclosed all material non-public information (if any)
provided up to the date hereof to the Purchaser or any of its affiliates by the Company or any of its Subsidiaries or any of their respective
officers, directors, employees, affiliates or agents, that has not previously been publicly disclosed by the Company in a filing with
the Commission. The Company understands and confirms that the Purchaser shall be relying on the foregoing representation, warranty and
convenant in effecting transactions in securities in the Company.

 

The
Company hereby represents, warrants, covenants and agrees to the Purchaser that, effective upon the Disclosure Filing, (i) the Purchaser
and each of its affiliates has no confidentiality or similar obligation under any agreement to the Company, any of its Subsidiaries or
any of their respective officers, directors, employees, affiliates or agent and (ii) the Purchaser and each of its affiliates has made
no agreement to the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agent to
not purchase or sell, long and/or short, the Common Stock or any other securities of the Company.

 

The
Company shall file a Form 8-K with the Commission disclosing the terms of the waiver herein (and including the Waiver as an exhibit thereto)
within one Trading Day of the date of the Waiver, provided, however, that, in lieu of filing an 8-K as set forth in this sentence, the
Company may disclose the terms of the waiver herein in the Form 10-K (and include the Waiver as an exhibit thereto), if the Form 10-K
is filed prior to 5:30 p.m. EST on October 13, 2021 (the “Disclosure Filing”).

 

    	Page 2

     

    

 

In
connection with this Waiver, the Company shall reimburse the Purchaser the amount of $5,000 for legal fees and expenses of the Purchaser
within ten days of the date hereof.

 

This
letter agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to choice of
law principles. Any dispute arising under or relating to or in connection with this letter agreement shall be subject to the exclusive
jurisdiction and venue of the State and/or Federal courts located in New York. This letter agreement may be executed in any number of
counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument.

 

[remainder
of page intentionally blank]

 

	 	Very truly yours,
	 	 	 
	 	Alto Opportunity Master Fund, SPC – Segregated Master Portfolio B
	 	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	Acknowledged and Agreed:	 
	 	 	 
	Esports Entertainment Group, Inc.	 
	 	 	 
	By:	               	 
	Name:	 	 
	Title:	 	 

 

    	Page 3

     

    

 

[signature
page to GMBL Waiver]

 

    	Page 4Document

Exhibit 10.1

INFORMATION IN THIS EXHIBIT IDENTIFIED BY [***] IS CONFIDENTIAL AND HAS BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10)(iv) OF REGULATION S-K BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.
AMENDMENT NO. 4 
to
AIRBUS A321 NEO AIRCRAFT PURCHASE AGREEMENT
Dated as of December 15, 2017
between
AIRBUS S.A.S.
and
DELTA AIR LINES, INC.
This Amendment No. 4 (this “Amendment”) is dated as of August 20, 2021, by and between AIRBUS S.A.S., a société par actions simplifée organized and existing under the laws of the Republic of France, having its registered office located at 2, rond-point Emile Dewoitine, 31700 Blagnac, France (the “Seller”) and DELTA AIR LINES, INC., a corporation organized and existing under the laws of the State of Delaware, United States of America, having its corporate office located at 1050 Delta Boulevard, Atlanta, Georgia 30320, USA (the “Buyer”).
WHEREAS, the Buyer and the Seller entered into the Airbus A321 NEO Aircraft Purchase Agreement dated as of December 15, 2017, as amended, modified or supplemented from time to time (the “Agreement”), which covers the sale by the Seller and the purchase by the Buyer of A321 NEO Aircraft; 
WHEREAS, the Buyer and the Seller wish to, inter alia, document the exercise of thirty (30) options and address other matters as set forth herein; 
NOW THEREFORE, SUBJECT TO THE TERMS AND CONDITIONS SET FORTH HEREIN, IT IS AGREED AS FOLLOWS:
The capitalized terms used herein and not otherwise defined in this Amendment will have the meanings assigned to them in the Agreement. The terms “herein,” “hereof,” and “hereunder” and words of similar import refer to this Amendment.
1.[***] EXERCISE
1.1[***] the Buyer hereby irrevocably exercises its [***] in respect of thirty (30) [***].  Consequently, all of the [***] Aircraft are hereby deemed to be [***] for all purposes of the Agreement.  This Amendment shall be deemed to be [***] with respect to the [***] 

						
	PRIVILEGED AND CONFIDENTIAL	Page 1/4

Aircraft.  Each of the [***] Aircraft shall have the Scheduled Delivery Month or Scheduled Delivery Quarter set forth opposite it in the table below:
[***]

1.2Amended and Restated Letter Agreement No. 3 to the Agreement is hereby deleted in its entirety and replaced with Amended and Restated Letter Agreement No. 3 to the Agreement dated as of even date herewith. 
1.3Subclause 9.1.1 of the Agreement is hereby deleted in its entirety and replaced with the following:
“9.1.1     Subject to the provisions of the Agreement, the Seller shall have the Aircraft Ready For Delivery at the Delivery Location, and the Buyer shall accept the same, during the quarters or months set forth in the table below (each as applicable, a “Scheduled Delivery Quarter or “Scheduled Delivery Month”, together a “Scheduled Delivery Period”).
”
2.[***]
3.EFFECT OF THE AMENDMENT
3.1The Agreement will be deemed amended to the extent herein provided, and, except as specifically amended hereby, will continue in full force and effect in accordance with its original terms.
3.2This Amendment will supersede any previous understandings, commitments, or representations whatsoever, whether oral or written, related to the subject matter of this Amendment. 
3.3Both Parties agree that this Amendment will constitute an integral, nonseverable part of the Agreement and be governed by its provisions, except that if the Agreement and this Amendment have specific provisions that are inconsistent, the specific provisions contained in this Amendment will govern.
4.CONFIDENTIALITY
This Amendment and its existence shall be treated by each Party as confidential subject to the terms and conditions of Clause 22.7 of the Agreement.
5.GOVERNING LAW
5.1THIS AMENDMENT AND THE AGREEMENTS CONTEMPLATED HEREIN WILL BE GOVERNED BY AND CONSTRUED AND THE PERFORMANCE THEREOF 

						
	PRIVILEGED AND CONFIDENTIAL	Page 2/4

WILL BE DETERMINED IN ACCORDANCE WITH THE PROVISIONS OF CLAUSE 22.6 OF THE AGREEMENT.
5.2It is agreed that the United Nations convention on contracts for the international sale of goods will not apply to this amendment.
6.ASSIGNMENT
This Amendment and the rights and obligations of the Parties will be subject to the provisions of Clause 19 of the Agreement.
7.COUNTERPARTS
This Amendment may be executed by the parties hereto in separate counterparts, each of which when so executed shall be an original, but all such counterparts shall together constitute one and the same instrument. Such counterparts may be delivered via facsimile and/or electronic mail (provided that an original is subsequently delivered).
 

						
	PRIVILEGED AND CONFIDENTIAL	Page 3/4

IN WITNESS WHEREOF, the parties have caused this Amendment No. 4 to be signed by their duly authorized officers as of the date first above written.

Very truly yours,
AIRBUS S.A.S.

By:  /s/ Olivier Marty
Title:    Vice President Contracts

Accepted and Agreed
DELTA AIR LINES, INC.

By:  /s/ Mahendra R. Nair
Title:    Senior Vice President – Fleet & Tech Ops Supply Chain

						
	PRIVILEGED AND CONFIDENTIAL	Page 4/4

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