Document:

Exhibit 10.4 (b)

 

NTN BUZZTIME INC.

2014 INDUCEMENT PLAN

NONSTATUTORY STOCK OPTION AGREEMENT

 

NTN Buzztime, Inc., a Delaware corporation (the
“Company”), hereby grants an Option to purchase shares of its Common Stock (the “Shares”) to the Optionee
named below. The terms and conditions of the Option are set forth in this cover sheet, in the attached nonstatutory stock option
agreement (the “Agreement”), in the NTN Buzztime, Inc. 2014 Inducement Plan (the “Plan”) and in the employment
agreement dated August 21, 2014 between the Company and Optionee (the “Employment Agreement”).

 

Date of Option Grant: __________________

 

Name of Optionee: _________________________________________________

 

Number of Shares Covered by Option: ______________

 

Exercise Price per Share: $_____.___

 

Fair Market Value of a Share on Date of Option Grant: $_____.___

 

Expiration Date: _____________ [DO NOT EXCEED TEN YEARS
FROM GRANT]

 

Vesting Calculation Date: _____________

 

Vesting Schedule:

 

Subject to all the terms of the Agreement and
subject to Sections 2.4(e) and 4.2(d), as applicable, of the Employment Agreement (and subject to all the other terms of the Employment
Agreement) [and subject to the achievement of the performance goals set forth on Exhibit A][1],
your right to purchase Shares under this Option shall vest as to (a) 1/4 of the total number of Shares covered by this Option,
as shown above, on the first anniversary of the Vesting Calculation Date, and (b) thereafter, at the rate of 1/48th
of the total number of Shares covered by this Option, as shown above, per calendar month on the same day of each of the 36 months
following the month of the first anniversary of the Vesting Calculation Date. The resulting aggregate number of vested Shares will
be rounded to the nearest whole number. No Shares will vest after your Service has terminated for any reason.

 

By signing this cover sheet, you agree
to all of the terms and conditions described in the attached Agreement, the Plan and Plan prospectus, copies of which are also
enclosed.

 

Optionee: ________________________________

                                          (Signature)

 

Company: ________________________________

                                          (Signature)

 

Title: ______________________________

 

Attachment

 

_______________

[1]
This bracketed clause will be included only in the performance-based option grant and Exhibit A to that grant will set out the
performance goals.

 

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NTN BUZZTIME, INC.

2014 INDUCEMENT PLAN

 

NONSTATUTORY STOCK OPTION AGREEMENT

 

	The Plan and Other Agreements	
        The text of the Plan is incorporated in this Agreement by reference.
        Certain capitalized terms used in this Agreement are defined in the Plan.

         

        The Employment Agreement, this Agreement and the Plan constitute
        the entire understanding between you and the Company regarding this Option. Any prior agreements, commitments or negotiations concerning
        this Option are superseded.

	 	 
	Nonstatutory Stock Option	
        This Option is not intended to be an Incentive Stock Option and
        will be interpreted accordingly.

         

        This Option is not intended to be deferred compensation under section
        409A of the Code and will be interpreted accordingly.

	 	 
	Vesting	This Option is only exercisable before it expires and then only with respect to the vested portion of the Option.  This Option will vest according to the Vesting Schedule on the attached cover sheet.
	 	 
	Term	
        This Option will expire in any event no later than the Expiration
        Date, as shown on the cover sheet. Your Option will expire earlier if your Service terminates, as described below.

         

        If the Expiration Date specified in the attached cover sheet falls
        on a day on which the NYSE MKT (the “Exchange”) is open for trading, then any unexercised portion of this Option that
        is outstanding shall be forfeited without consideration as of 3:45 P.M. New York time on the Expiration Date.

         

        However, if the Expiration Date specified in the attached cover
        sheet falls on any day on which the Exchange is not open for trading, then your ability to exercise this Option will terminate
        as of 3:45 P.M. New York time on the last day in which the Exchange is open for trading that occurs immediately prior to the Expiration
        Date.

	 	 
	Termination of Service - General	Except as set forth in Section 4.2(d) of the Employment Agreement (and subject to all the other terms of the Employment Agreement), if your Service terminates for any reason other than (i) being terminated by the Company for Cause or (ii) due to your death or Disability, then your Option will expire at the close of business at Company headquarters on the date that is ninety (90) days after your Termination Date.  If your Service terminates under the circumstances described in Section 4.2(d) of the Employment Agreement, this Option will be treated in accordance with such Section 4.2(d), subject to all the other terms of the Employment Agreement.

 

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	Termination of Service - Death or Disability	If your Service terminates because of your death or Disability, then your Option will expire at the close of business at Company headquarters on the date that is twelve (12) months after your Termination Date.  If your Service terminates because of your death, then your estate or heirs may exercise the vested portion of your Option during this twelve (12) month period.
	 	 
	Termination of Service – by the Company for Cause	If your Service is terminated by the Company for Cause or if you commit an act(s) of Cause while this Option is outstanding, as determined by the Committee in its sole discretion, then you shall immediately forfeit all rights to your Option and the Option shall immediately expire. 
	 	 
	Leaves of Absence	
        For purposes of this Option, your Service does not terminate when
        you go on a bona fide leave of absence that was approved by the Company in writing, if the terms of the leave provide for
        continued Service crediting, or when continued Service crediting is required by applicable law. Your Service terminates in any
        event when the approved leave ends unless you immediately return to active work.

         

        The Company determines which leaves count for this purpose, and
        when your Service terminates for all purposes under the Plan.

	 	 
	Notice of Exercise	
        When you wish to exercise this Option, you must notify the Company
        by filing a “Notice of Exercise” form at the address given on the form. Your notice must specify how many Shares you
        wish to purchase. Your notice must also specify how your Shares should be registered (in your name only or in your and your spouse’s
        names as community property or as joint tenants with right of survivorship). The notice will be effective when it is received by
        the Company.

         

        If someone else wants to exercise this Option after your death,
        that person must prove to the Company’s satisfaction that he or she is entitled to do so.

	 	 
	Form of Payment	
        When you submit your notice of exercise, you must include
payment of the Exercise Price for the Shares you are purchasing. Payment may be made in one (or a combination) of the following
forms:

 

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		·	Cash, your personal check, a cashier’s check or a money order.

 

		·	Shares which have already been owned by you for more than six (6)
months and which are surrendered to the Company. The Fair Market Value of the Shares, determined as of the effective date of the
Option exercise, will be applied to the Exercise Price.

 

		·	To the extent a public market for the Shares exists as determined
by the Company, by Cashless Exercise through delivery (on a form prescribed by the Company) of an irrevocable direction to a securities
broker to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate Exercise Price.

 

	Withholding Taxes	
        You will be solely responsible for payment of
        any and all applicable taxes associated with this Option.

         

        You will not be allowed to exercise this Option unless you make
        acceptable arrangements to pay any withholding or other taxes that may be due as a result of the Option exercise or sale of Shares
        acquired under this Option.

	 	 
	Restrictions on Exercise and Resale	
        By signing this Agreement, you agree not to (i) exercise
this Option (“Exercise Prohibition”), or (ii) sell, transfer, dispose of, pledge, hypothecate, make any short sale
of, or otherwise effect a similar transaction of any Shares acquired under this Option (each a “Sale Prohibition”)
at a time when applicable laws, regulations or Company or underwriter trading policies prohibit the exercise or disposition of
Shares. The Company will not permit you to exercise this Option if the issuance of Shares at that time would violate any law or
regulation. The Company shall have the right to designate one or more periods of time, each of which generally will not exceed
one hundred eighty (180) days in length (provided however, that such period may be extended in connection with the Company’s
release (or announcement of release) of earnings results or other material news or events), and to impose an Exercise Prohibition
and/or Sale Prohibition, if the Company determines (in its sole discretion) that such limitation(s) is needed in connection with
a public offering of Shares or to comply with an underwriter’s request or trading policy, or could in any way facilitate
a lessening of any restriction on transfer pursuant to the Securities Act or any state securities laws with respect to any issuance
of securities by the Company, facilitate the registration or qualification of any securities by the Company under the Securities
Act or any state securities laws, or facilitate the perfection of any exemption from the registration or qualification requirements
of the Securities Act or any applicable state securities laws for the issuance or transfer of any securities. The Company may
issue stop/transfer instructions and/or appropriately legend any stock certificates issued pursuant to this Option in order to
ensure compliance with the foregoing. Any such Exercise Prohibition shall not alter the vesting schedule set forth in this Agreement
other than to limit the periods during which this Option shall be exercisable.

        

 

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	 	If the sale of Shares under the Plan is not registered under the
Securities Act, but an exemption is available which requires an investment or other representation, you shall represent and agree
at the time of exercise that the Shares being acquired upon exercise of this Option are being acquired for investment, and not
with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate
by the Company and its counsel.

 

You may also be required, as a condition of exercise of this
Option, to enter into any Company stockholder agreement or other agreements that are applicable to stockholders.

	 	 
	Transfer of Option	Prior to your death, only you may exercise this Option.  You cannot transfer, assign, alienate, pledge, attach, sell, or encumber this Option.  If you attempt to do any of these things, this Option will immediately become invalid.  You may, however, dispose of this Option in your will or it may be transferred by the laws of descent and distribution.  Regardless of any marital property settlement agreement, the Company is not obligated to honor a notice of exercise from your spouse, nor is the Company obligated to recognize your spouse’s interest in your Option in any other way.
	 	 
	Retention Rights	
        Neither this Option nor this Agreement gives you the right to be
        retained by the Company (or any Parent or any Subsidiaries or Affiliates) in any capacity. The Company (or any Parent and any Subsidiaries
        or Affiliates) reserves the right to terminate your Service at any time and for any reason.

         

        This Option and the Shares subject to the Option are not intended
        to constitute or replace any pension rights or compensation and are not to be considered compensation of a continuing or recurring
        nature, or part of Optionee’s normal or expected compensation, and in no way represent any portion of Optionee’s salary,
        compensation or other remuneration for any purpose, including but not limited to, calculating any severance, resignation, termination,
        redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

 

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	Stockholder Rights	You, or your estate or heirs, have no rights as a stockholder of the Company until a certificate for your Option’s Shares has been issued. No adjustments are made for dividends or other rights if the applicable record date occurs before your stock certificate is issued, except as described in the Plan.
	 	 
	Adjustments	In the event of a stock split, a stock dividend or a similar change in the Company stock, the number of Shares covered by this Option (rounded down to the nearest whole number) and the Exercise Price per Share may be adjusted pursuant to the Plan.  Your Option shall be subject to the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity.
	 	 
	Legends	All certificates representing the Shares issued upon exercise of this Option shall, if applicable, have endorsed thereon the following legends:
	 	 
	 	“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE.”
	 	 
	 	“THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”

 

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	Applicable Law	This Agreement will be interpreted and enforced under the laws of the State of Delaware.
	 	 
	Voluntary Participant	Optionee acknowledges that Optionee is voluntarily participating in the Plan.
	 	 
	No Rights to Future Awards	Optionee’s rights, if any, in respect of or in connection with this Option or any other Award are derived solely from the discretionary decision of the Company to permit Optionee to participate in the Plan and to benefit from a discretionary Award.  By accepting this Option, Optionee expressly acknowledges that there is no obligation on the part of the Company to continue the Plan and/or grant any additional Awards to Optionee or benefits in lieu of Options or any other Awards even if Options have been granted repeatedly in the past.  All decisions with respect to future Option grants, if any, will be at the sole discretion of the Committee.
	 	 
	Future Value	The future value of the underlying Shares is unknown and cannot be predicted with certainty.  If the underlying Shares do not increase in value after the Date of Option Grant, the Option will have little or no value.  If Optionee exercises the Option and obtains Shares, the value of the Shares acquired upon exercise may increase or decrease in value, even below the Exercise Price. 
	 	 
	No Advice Regarding Grant	The Company has not provided any tax, legal or financial advice, nor has the Company made any recommendations regarding Optionee’s participation in the Plan, or Optionee’s acquisition or sale of the underlying Shares.  Optionee is hereby advised to consult with Optionee’s own personal tax, legal and financial advisors regarding Optionee’s participation in the Plan before taking any action related to the Plan.

 

By signing the cover sheet of this Agreement, you
agree to all of the terms and conditions described above, and in the Plan and Plan prospectus.

 

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NTN BUZZTIME, INC.

NOTICE OF EXERCISE OF NONSTATUTORY STOCK OPTION BY OPTIONEE

 

NTN Buzztime, Inc.

2231 Rutherford Rd. Suite 200

Carlsbad, California 92008

Attention: Secretary

 

	Re:	Exercise of Nonstatutory Stock Option to Purchase Shares of Company Stock
	 	 
	 	 
	 	                     [PRINT NAME OF OPTIONEE]

 

Pursuant to the Nonstatutory Stock Option Agreement
dated ___________________, ______ between NTN Buzztime, Inc., a Delaware corporation, (the “Company”) and me, made
pursuant to the 2014 Inducement Plan (the “Plan”), I hereby request to purchase _______ Shares (whole number
only and must be not less than 100 Shares or the remaining number of vested Shares under this Option) of common stock of the Company
(the “Shares”), at the exercise price of $__________ per Share. I am hereby making full payment of the aggregate exercise
price by one or more of the following forms of payment in accordance with the whole number percentages that I have provided below.
I further understand and agree that I will timely satisfy any and all applicable tax withholding obligations as a condition of
this Option exercise.

 

	Percentage	 
	of Payment	Form of Payment As Provided In the Nonstatutory Stock Option Agreement
	 	 
	_______%	Cash/My Personal Check/Cashier’s Check/Money Order (payable to “NTN Buzztime, Inc.”)
	 	 
	_______%	Cashless Exercise as provided in the Nonstatutory Stock Option Agreement
	 	 
	_______%	Surrender of Vested Shares (Valued At Their Fair Market Value) Owned 
	 	 
	   100%	By Me For More Than Six (6) Months

 

	Check one:	 ̈	The Shares certificate is to be issued and registered in my name only.
	 	 	 
	 	 ̈	The Shares certificate is to be issued and registered in my name and my spouse’s name.
	 	 	 
	 	 	____________________________________________
	 	 	[PRINT SPOUSE’S NAME, IF CHECKING SECOND BOX]
	 	 	 
	 	 	Check one (if
checked second box above):
	 	 	 
	 	 	 ̈
Community Property or  ̈ Joint
Tenants With Right of Survivorship

 

I acknowledge that I have received, understand
and continue to be bound by all of the terms and conditions set forth in the Plan, Plan prospectus and in the Nonstatutory Stock
Option Agreement.

 

Dated: __________________

		 	
	(Optionee’s Signature)	 	(Spouse’s Signature)**
	 	 	**Spouse must sign this Notice of Exercise if listed above.
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	(Full Address)	 	(Full Address)

 

*THIS NOTICE OF EXERCISE MAY BE REVISED BY THE COMPANY AT ANY
TIME WITHOUT NOTICE.Exhibit 10.5

 

NTN BUZZTIME, INC.

INDEMNIFICATION AGREEMENT

 

This Indemnity Agreement (this “Agreement”)
is made as of the ____day of________, 20__, by and between NTN Buzztime, Inc., a Delaware corporation (the “Corporation”),
and ____________________ (“Indemnitee”), a director and/or officer of the Corporation.

 

A.The Corporation and the Indemnitee
recognize that the interpretation of statutes, regulations, court opinions and the Corporation’s certificate of incorporation
and bylaws is too uncertain to provide the Corporation’s officers and directors with adequate guidance with respect to the
legal risks and potential liabilities to which they may become personally exposed as a result of performing their duties in good
faith for the Corporation.

 

B.Section 145 of the Delaware General
Corporation Law, which sets forth certain provisions relating to the mandatory and permissive indemnification of officers and directors
(among others) of a Delaware corporation by such corporation, is specifically not exclusive of other rights to which those indemnified
thereunder may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors, or otherwise.

 

C.In order to induce capable persons
such as the Indemnitee to serve or continue to serve as officers or directors of the Corporation and to enable them to perform
their duties to the Corporation secure in the knowledge that certain expenses and liabilities that may be incurred by them will
be borne by the Corporation, and in order to provide such protection pursuant to express contract rights (intended to be enforceable
irrespective of, among other things, any amendment to the Corporation's certificate of incorporation or bylaws (collectively, the
"Constituent Documents"), any change in the composition of the board of directors of the Corporation (the “Board”)
or any change in control or business combination transaction relating to the Corporation), the Corporation has determined, after
due consideration and investigation of the terms and provisions of this Agreement and the various other options available to the
Corporation and the Indemnitee in lieu of this Agreement, that this Agreement is in the best interests of the Corporation and its
stockholders.

 

D.The Corporation desires to have the
Indemnitee serve or continue to serve as an officer or director of the Corporation, and the Indemnitee desires to serve or continue
to serve as an officer or director of the Corporation provided, and on the express condition, that he/she is furnished with the
indemnity set forth below.

 

NOW, THEREFORE, in consideration of the
foregoing and the Indemnitee's agreement to continue to provide services to the Corporation, the parties agree as follows:

 

1.Definitions. For purposes of
this Agreement, the following terms shall have the following meanings:

 

"Change in Control" means
the occurrence after the date of this Agreement of any of the following events:

 

(i)any Person (other than a trustee or
other fiduciary holding securities under an employee benefit plan of the Corporation or an entity owned directly or indirectly
by the stockholders of the Corporation in substantially the same proportions as their ownership of stock of the Corporation) is
or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Corporation representing 30% or more of the then outstanding Voting Securities; provided, however, that for purposes of this clause
(i), no Change of Control will be deemed to have occurred (a) as a result of any acquisition directly from the Company or (b) if
the change in relative beneficial ownership of the Corporation's securities by any Person results solely from a reduction in the
aggregate number of outstanding Voting Securities;

 

(ii)the consummation of a reorganization,
merger or consolidation (unless immediately following such transaction, all of the beneficial owners of the Voting Securities immediately
prior to such transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the outstanding
securities of the entity resulting from such transaction that vote generally in the election of directors of such entity);

 

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(iii)during any period of two consecutive
years, not including any period prior to the execution of this Agreement, individuals who at the beginning of such period constituted
the Board (including for this purpose any new directors whose election by the Board or nomination for election by the Corporation's
stockholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the
beginning of the period or whose election or nomination for election was previously so approved) cease for any reason to constitute
at least a majority of the Board; or

 

(iv)the stockholders of the Corporation
approve a plan of complete liquidation or dissolution of the Corporation or an agreement for the sale or disposition by the Corporation
of all or substantially all of the Corporation's assets.

 

"Disinterested Director"
means a director of the Corporation who is not and was not a party to the Proceeding in respect of which indemnification is sought
by Indemnitee.

 

"Expenses" means any and
all expenses, including, without limitation, attorneys' and experts' fees, court costs, transcript costs, travel expenses, duplicating,
printing and binding costs, telephone charges, and all other costs and expenses (i) incurred in connection with investigating,
defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness or participate in,
any Proceeding, and (ii) incurred in connection with any appeal resulting from any Proceeding, including without limitation the
premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. For
purposes of Section 5 only, as used in that section, the term “Expenses” also includes any Expenses incurred by Indemnitee
in connection with the interpretation, enforcement or defense of Indemnitee's rights under this Agreement, by litigation or otherwise.
Notwithstanding anything to the contrary herein, however, the term “Expenses” does not include amounts paid in settlement
by Indemnitee or the amount of judgments or fines against Indemnitee.

 

"Exchange Act" means the
Securities Exchange Act of 1934, as amended.

 

"Indemnifiable Event" means
any event or occurrence, whether occurring before, on or after the date of this Agreement, related to the fact that Indemnitee
is or was a director, officer, employee or agent of the Corporation or any subsidiary of the Corporation, or is or was serving
at the request of the Corporation as a director, officer, employee, member, manager, trustee or agent of any other corporation,
firm, partnership, joint venture, limited liability company, estate, trust, business association, organization or enterprise, or
by reason of an action or inaction by Indemnitee in any such capacity (whether or not serving in such capacity at the time any
Loss is incurred for which indemnification can be provided under this Agreement).

 

"Independent Counsel" means
a law firm, or a member of a law firm, that is experienced in corporate law and neither presently performs, nor in the five years
immediately prior to the date of determination has performed, services for either: (i) the Corporation or Indemnitee (other than
in connection with matters concerning Indemnitee under this Agreement or of other indemnitees under similar agreements) or (ii)
any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, any person
who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Corporation or Indemnitee in an action to determine Indemnitee's rights under this Agreement may not be an Independent
Counsel.

 

"Losses" means any and
all Expenses, damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal or other), ERISA excise taxes,
amounts paid or payable in settlement, including any interest, assessments, any federal, state, local or foreign taxes imposed
as a result of the actual or deemed receipt of any payments under this Agreement and all other charges paid or payable in connection
with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness
or participate in, any Proceeding.

 

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"Person" means any individual,
corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental
entity or other entity and includes the meaning set forth in Sections 13(d) and 14(d) of the Exchange Act.

 

"Proceeding" means: (i)
any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal,
administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law; or (ii) any inquiry,
hearing or investigation that the Indemnitee determines might lead to the institution of any such action, suit, proceeding or alternative
dispute resolution mechanism.

 

"Voting Securities" means
any securities of the Corporation that vote generally in the election of directors.

 

2.Services to the Corporation.
Indemnitee agrees to continue to serve as a director or officer of the Corporation for so long as Indemnitee is duly elected or
appointed or until Indemnitee tenders his/her resignation or is no longer serving in such capacity. This Agreement shall not be
deemed an employment agreement between the Corporation (or any of its subsidiaries) and Indemnitee. Indemnitee specifically acknowledges
that if Indemnitee is employed by the Corporation, such employment is at will and the Indemnitee may be discharged at any time
for any reason, with or without cause, except as may be otherwise provided in any written employment agreement between Indemnitee
and the Corporation, other applicable formal severance policies duly adopted by the Board or, with respect to service as a director
or officer of the Corporation, by the Constituent Documents or the laws of the State of Delaware.

 

3.Advancement of Expenses.

 

(a)Indemnitee shall have the right to
advancement by the Corporation, prior to the final disposition of any Proceeding by final adjudication to which there are no further
rights of appeal, of any and all Expenses actually and reasonably paid or incurred by Indemnitee in connection with any Proceeding
arising out of an Indemnifiable Event. Indemnitee's right to such advancement is not subject to the satisfaction of any standard
of conduct as contemplated by Section 8(b).

 

(b)Within 10 business days after any
request by Indemnitee for the advancement of Expenses, the Corporation shall, in accordance with such request, (a) pay such Expenses
on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee
for such Expenses. In connection with any request for the advancement of Expenses, Indemnitee shall not be required to provide
any documentation or information to the extent that the provision thereof would undermine or otherwise jeopardize attorney-client
privilege.

 

(c)The Execution and delivery to the
Corporation of this Agreement by Indemnitee constitutes an undertaking by the Indemnitee to repay any amounts paid, advanced or
reimbursed by the Company pursuant to this Section 4 in respect of Expenses relating to, arising out of or resulting from any Proceeding
in respect of which it shall be determined, pursuant to Section 8, following the final disposition of such Proceeding, that Indemnitee
is not entitled to indemnification hereunder. No other form of undertaking shall be required other than the execution of this Agreement.
Indemnitee's obligation to reimburse the Corporation for the advancement of any Expenses shall be unsecured and no interest shall
be charged thereon.

 

4.Indemnification. Subject to Sections
8 and 9, to the fullest extent permitted by law, including the laws of the State of Delaware in effect on the date hereof (or as
such laws may from time to time hereafter be amended to increase the scope of such permitted indemnification), the Corporation
shall indemnify Indemnitee against any and all Losses if Indemnitee was or is or becomes a party to or participant in, or is threatened
to be made a party to or participant in, any Proceeding by reason of or arising in part out of an Indemnifiable Event, including,
without limitation, Proceedings brought by or in the right of the Corporation, Proceedings brought by third parties, and Proceedings
in which the Indemnitee is solely a witness.

 

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5.Indemnification for Expenses in Enforcing
Rights. To the fullest extent allowable under applicable law, the Corporation shall also indemnify against, and, if requested
by Indemnitee, shall advance to Indemnitee subject to and in accordance with Section 3, any Expenses actually and reasonably paid
or incurred by Indemnitee in connection with any action or proceeding by Indemnitee for (a) indemnification or reimbursement or
advancement of Expenses by the Corporation under this Agreement, or under any other agreement or provision of the Constituent Documents
now or hereafter in effect relating to Proceedings relating to Indemnifiable Events, and/or (b) recovery under any directors' and
officers' liability insurance policies maintained by the Corporation. However, in the event that Indemnitee is ultimately determined
not to be entitled to such indemnification, reimbursement or advancement of Expenses or insurance recovery, as the case may be,
then all amounts advanced under this Section 5 shall be repaid to the Corporation within 30 days of the date such determination
is made. In addition, Indemnitee shall be required to reimburse the Corporation if a final judicial determination is made that
such action or proceeding brought by Indemnitee was frivolous or not made in good faith.

 

6.Notification and Defense of Proceedings.

 

(a)Notification of Proceedings.
Indemnitee must notify the Corporation in writing as soon as practicable of any Proceeding which could relate to an Indemnifiable
Event or for which Indemnitee could seek the advancement of Expenses. Such notice must include a brief description (based upon
information then available to Indemnitee) of the nature of, and the facts underlying, such Proceeding. The failure by Indemnitee
to timely notify the Corporation hereunder will not relieve the Corporation from any liability hereunder unless such failure materially
prejudices the Corporation.

 

(b)Defense of Proceedings.

 

(i)The Corporation will be entitled to
participate in the defense of any Proceeding relating to an Indemnifiable Event at its own expense and, except as otherwise provided
in Section 6(b)(iii), to the extent the Corporation so elects, it may assume the defense thereof with counsel reasonably satisfactory
to Indemnitee.

 

(ii)After the Corporation notifies Indemnitee
of the Corporation’s election to assume the defense of any such Proceeding, the Corporation will not be liable to Indemnitee
under this Agreement or otherwise for any Expenses subsequently directly incurred by Indemnitee in connection with Indemnitee's
defense of such Proceeding other than reasonable costs of investigation or as provided in Section 6(b)(iii).

 

(iii)Indemnitee has the right to employ
its own legal counsel in such Proceeding, but all Expenses related to such counsel incurred after notice from the Corporation of
its assumption of the defense of such Proceeding will be at Indemnitee's own expense; provided, however, that if (i) Indemnitee's
employment of its own legal counsel has been authorized by the Corporation, (ii) Indemnitee has reasonably determined that there
may be a conflict of interest between Indemnitee and the Corporation in the defense of such Proceeding, (iii) after a Change in
Control, Indemnitee's employment of its own counsel has been approved by Independent Counsel or (iv) the Corporation does not in
fact employ counsel to assume the defense of such Proceeding, then Indemnitee will be entitled to retain its own separate counsel
(but not more than one law firm plus, if applicable, local counsel in respect of any such Proceeding) and the Corporation will
be responsible for all Expenses related to such separate counsel.

 

7.Procedure upon Application for Indemnification.
To obtain indemnification pursuant to this Agreement, Indemnitee must submit to the Corporation a written request therefor (a “Indemnification
Request”) and Indemnitee must provide the Corporation with such documentation and information as is reasonably available
to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following
the final disposition of the Proceeding; provided, however, that documentation and information need not be so provided to the extent
that doing so would undermine or otherwise jeopardize attorney-client privilege. The Corporation must indemnify Indemnitee if and
to the extent Indemnitee is entitled to indemnification as determined under Section 8.

 

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8.Determination of Right to Indemnification.

 

(a)Mandatory Indemnification.

 

(i)To the extent that Indemnitee has been
successful on the merits or otherwise in defense of any Proceeding relating to an Indemnifiable Event or any portion thereof or
in defense of any issue or matter therein, including without limitation dismissal without prejudice, the Corporation shall indemnify
Indemnitee against all Losses relating to such Proceeding in accordance with Section 4. For avoidance of doubt, no Standard of
Conduct Determination (as defined in Section 8(b)) is required in order for Indemnitee to be indemnified under this Section 8(a)(i).

 

(ii)To the extent that Indemnitee's involvement
in a Proceeding relating to an Indemnifiable Event is to prepare to serve and/or serve as a witness, and not as a party, the Corporation
shall indemnify Indemnitee against all Losses relating to such Proceeding in accordance with Section 4. For avoidance of doubt,
no Standard of Conduct Determination is required in order for indemnification under this Section 8(a)(ii).

 

(b)Standard of Conduct. To the
extent that the provisions of Section 8(a) are inapplicable to a Proceeding related to an Indemnifiable Event that has been finally
disposed of, the determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law that is
a legally required condition to indemnification of Indemnitee hereunder against Losses relating to such Proceeding and the determination
of whether any Expenses advanced to Indemnitee must be repaid to the Corporation (a “Standard of Conduct Determination”)
will be made as follows:

 

(i)if no Change in Control has occurred,
(A) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (B) by a committee of Disinterested
Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum or (C) if there are no such
Disinterested Directors, by Independent Counsel in a written opinion addressed to the Board, a copy of which must be delivered
to Indemnitee; and

 

(ii)if a Change in Control has occurred,
(A) if Indemnitee so requests in writing, by a majority vote of the Disinterested Directors, even if less than a quorum of the
Board or (B) otherwise, by Independent Counsel in a written opinion addressed to the Board, a copy of which must be delivered to
Indemnitee.

 

The Corporation shall indemnify and hold harmless Indemnitee
against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance to Indemnitee, within 10 business days of such
request, any and all Expenses incurred by Indemnitee in cooperating with the person or persons making such Standard of Conduct
Determination.

 

(c)Making the Determination.
The Corporation shall use its reasonable best efforts to cause any Standard of Conduct Determination required under Section 8(b)
to be made as promptly as practicable. If the person or persons designated to make the Standard of Conduct Determination under
Section 8(b) have not made such a determination within 30 days after the later of (A) the date the Corporation receives the applicable
Indemnification Request (such date, the "Notification Date") and (B) the date Independent Counsel is selected,
if Independent Counsel is to make such determination, then Indemnitee will be deemed to have satisfied the applicable standard
of conduct; provided that such 30-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the
person or persons making such determination in good faith requires such additional time to obtain or evaluate information relating
thereto. Notwithstanding anything to the contrary in this Agreement, no Standard of Conduct Determination required under Section
8(b) may be required to be made prior to the final disposition of any Proceeding.

 

(d)Indemnification Payment. If,
in regard to any Losses:

 

(i)Indemnitee is entitled to indemnification
under Section 8(a);

 

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(ii)no Standard Conduct Determination
is legally required as a condition to indemnification of Indemnitee hereunder; or

 

(iii)Indemnitee has been determined or
deemed to have satisfied the applicable standard of conduct under Delaware law that is a legally required condition to indemnification
of Indemnitee hereunder under Section 8(b) or Section 8(c), as applicable,

 

then the Corporation shall pay to Indemnitee, within 10 business
days after the later of (A) the Notification Date or (B) the earliest date on which the applicable criterion specified in clause
(i), (ii) or (iii) is satisfied, an amount equal to such Losses.

 

(e)Selection of Independent Counsel
for Standard of Conduct Determination. If a Standard of Conduct Determination is to be made by Independent Counsel pursuant
to Section 8(b)(i), the Independent Counsel shall be selected by the Board, and the Corporation shall give written notice to Indemnitee
advising him/her of the identity of the Independent Counsel so selected. If a Standard of Conduct Determination is to be made by
Independent Counsel pursuant to Section 8(b)(ii), the Independent Counsel shall be selected by Indemnitee, and Indemnitee shall
give written notice to the Corporation advising it of the identity of the Independent Counsel so selected. In either case, Indemnitee
or the Corporation, as applicable, may, within five business days after receiving written notice of selection from the other, deliver
to the other a written objection to such selection; provided, however, that such objection may be asserted only on the ground that
the Independent Counsel so selected does not satisfy the criteria set forth in the definition of "Independent Counsel",
and the objection must set forth with particularity the factual basis of such assertion. Absent a proper and timely objection,
the person or firm so selected will act as Independent Counsel. If such written objection is properly and timely made and substantiated,
(i) the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a
court has determined that such objection is without merit; and (ii) the non-objecting party may, at its option, select an alternative
Independent Counsel and give written notice to the other party advising such other party of the identity of the alternative Independent
Counsel so selected, in which case the provisions of the two immediately preceding sentences, the introductory clause of this sentence
and clause (i) of this sentence will apply to such subsequent selection and notice, and, if applicable, clause (ii) of the this
sentence will apply to successive alternative selections. If no Independent Counsel that is permitted under this Section 8(e) to
make the Standard of Conduct Determination is selected within 30 days after the Corporation gives its initial notice pursuant to
the first sentence of this Section 8(e) or Indemnitee gives its initial notice pursuant to the second sentence of this Section
8(e), as the case may be, either the Corporation or Indemnitee may petition the Court of Chancery of the State of Delaware (the
"Delaware Court") to resolve any objection which has been made by the Corporation or Indemnitee to the other's
selection of Independent Counsel and/or to appoint as Independent Counsel a person or firm to be designated by the Delaware Court,
and the person or firm with respect to whom all objections are so resolved or the person or firm so appointed will act as Independent
Counsel. In all events, the Corporation shall pay all of the reasonable fees and expenses of the Independent Counsel incurred in
connection with the Independent Counsel’s determination pursuant to Section 8(b).

 

(f)Presumptions and Defenses.

 

(i)Indemnitee's Entitlement to Indemnification.
In making any Standard of Conduct Determination, the person or persons making such determination must presume that Indemnitee has
satisfied the applicable standard of conduct and is entitled to indemnification, and the Corporation will have the burden of proof
to overcome that presumption and establish that Indemnitee is not so entitled. Any Standard of Conduct Determination that is adverse
to Indemnitee may be challenged by Indemnitee in the Delaware Court. No determination by the Corporation (including by its directors
or any Independent Counsel) that Indemnitee has not satisfied any applicable standard of conduct may be used as a defense to any
proceedings brought by Indemnitee to secure indemnification or reimbursement or advancement of Expenses by the Corporation hereunder
or create a presumption that Indemnitee has not met any applicable standard of conduct.

 

(ii)Reliance as a Safe Harbor.
For purposes of this Agreement, and without creating any presumption as to a lack of good faith if the following circumstances
do not exist, Indemnitee will be deemed to have acted in good faith and in a manner he or she reasonably believed to be in or not
opposed to the best interests of the Corporation if Indemnitee's actions or omissions to act are taken in good faith reliance upon
the records of the Corporation, including its financial statements, or upon information, opinions, reports or statements furnished
to Indemnitee by the officers or employees of the Corporation or any of its subsidiaries in the course of their duties, or by committees
of the Board or by any other Person (including legal counsel, accountants and financial advisors) as to matters Indemnitee reasonably
believes are within such other Person's professional or expert competence and who has been selected with reasonable care by or
on behalf of the Corporation. In addition, the knowledge and/or actions, or failures to act, of any director, officer, agent or
employee of the Corporation may not be imputed to Indemnitee for purposes of determining the right to indemnity hereunder.

 

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(iii)No Other Presumptions. For
purposes of this Agreement, the termination of any Proceeding by judgment, order, settlement (whether with or without court approval)
or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption that Indemnitee did not meet
any applicable standard of conduct or have any particular belief, or that indemnification hereunder is otherwise not permitted.

 

(iv)Defense to Indemnification and
Burden of Proof. It will be a defense to any action brought by Indemnitee against the Corporation to enforce this Agreement
(other than an action brought to enforce a claim for Losses incurred in defending against a Proceeding related to an Indemnifiable
Event in advance of its final disposition) that it is not permissible under applicable law for the Corporation to indemnify Indemnitee
for the amount claimed. In connection with any such action or any related Standard of Conduct Determination, the Corporation will
have the burden of proving such a defense or that the Indemnitee did not satisfy the applicable standard of conduct.

 

(v)Resolution of Proceedings. The
Corporation acknowledges that a settlement or other disposition short of final judgment may be successful on the merits or otherwise
for purposes of Section 8(a)(i) if it permits a party to avoid expense, delay, distraction, disruption and/or uncertainty. If any
Proceeding relating to an Indemnifiable Event to which Indemnitee is a party is resolved in any manner other than by adverse judgment
against Indemnitee (including, without limitation, settlement of such action, claim or proceeding with our without payment of money
or other consideration) it will be presumed that Indemnitee has been successful on the merits or otherwise for purposes of Section
8(a)(i). The Corporation will have the burden of proof to overcome this presumption.

 

9.Exclusions from Indemnification.
Notwithstanding anything to the contrary in this Agreement, the Corporation will not be obligated to:

 

(a)indemnify or advance funds to Indemnitee
for Expenses or Losses with respect to proceedings initiated by Indemnitee, including any proceedings against the Corporation or
its directors, officers, employees or other indemnitees and not by way of defense, except: (i) proceedings referenced in Section
5 (unless a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such proceeding
was not made in good faith or was frivolous); or (ii) where the Corporation has joined in or the Board has consented to the initiation
of such proceedings;

 

(b)indemnify Indemnitee if a final decision
by a court of competent jurisdiction determines that such indemnification is prohibited by applicable law;

 

(c)indemnify Indemnitee for the disgorgement
of profits arising from the purchase or sale by Indemnitee of securities of the Corporation in violation of Section 16(b) of the
Exchange Act or any similar successor statute; or

 

(d)indemnify or advance funds to Indemnitee
for Indemnitee's reimbursement to the Corporation of any bonus or other incentive-based or equity-based compensation previously
received by Indemnitee or payment of any profits realized by Indemnitee from the sale of securities of the Corporation, as required
in each case under the Exchange Act (including any such reimbursements under Section 304 of the Sarbanes-Oxley Act of 2002 in connection
with an accounting restatement of the Corporation or the payment to the Corporation of profits arising from the purchase or sale
by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act).

 

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10.Settlement of Proceedings. The
Corporation will not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding related
to an Indemnifiable Event effected without the Corporation's prior written consent, which may not be unreasonably conditioned,
delayed or withheld; provided, however, that if a Change in Control has occurred, the Corporation will be liable for indemnification
of Indemnitee for amounts paid in settlement if an Independent Counsel has approved the settlement. The Corporation shall not settle
any Proceeding related to an Indemnifiable Event in any manner that would impose any Losses on the Indemnitee without the Indemnitee's
prior written consent.

 

11.Partial Indemnity. If Indemnitee
is entitled under this Agreement to indemnification by the Corporation for a portion of any Losses in respect of a Proceeding related
to an Indemnifiable Event but not for the total amount thereof, the Corporation must nevertheless indemnify Indemnitee for the
portion thereof to which Indemnitee is entitled.

 

12.Duration. All agreements and
obligations of the Corporation contained in this Agreement will continue during the period that Indemnitee is a director or officer
of the Corporation (or is serving at the request of the Corporation as a director, officer, employee, member, trustee or agent
of another corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization
or enterprise) and will continue thereafter (i) so long as Indemnitee may be subject to any possible Proceeding relating to an
Indemnifiable Event (including any rights of appeal thereto) and (ii) throughout the pendency of any proceeding (including any
rights of appeal thereto) commenced by Indemnitee to enforce or interpret Indemnitee’s rights under this Agreement, even
if, in either case, Indemnitee may have ceased to serve in such capacity at the time of any such Proceeding or proceeding.

 

13.Non-Exclusivity. Indemnitee’s
rights under this Agreement are in addition to any other rights Indemnitee may have under the Constituent Documents, the General
Corporation Law of the State of Delaware, any other contract or otherwise (collectively, "Other Indemnity Provisions");
provided, however, that (a) to the extent that Indemnitee otherwise would have any greater right to indemnification under any Other
Indemnity Provision, Indemnitee will be deemed to have such greater right under this Agreement and (b) to the extent that any change
is made to any Other Indemnity Provision which permits any greater right to indemnification than that provided under this Agreement
as of the date hereof, Indemnitee will be deemed to have such greater right under this Agreement.

 

14.Liability Insurance. For the
duration of Indemnitee's service as a director/officer of the Corporation, and thereafter for so long as Indemnitee may be subject
to any pending Proceeding relating to an Indemnifiable Event, the Corporation must use commercially reasonable efforts (taking
into account the scope and amount of coverage available relative to the cost thereof) to continue to maintain in effect policies
of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount
to that provided by the Corporation's current directors' and officers' liability insurance policies. Indemnitee shall be named
as an insured in all the directors' and officers' liability insurance policies maintained by the Corporation in such a manner as
to provide Indemnitee the same rights and benefits as are provided to the most favorably insured of the Corporation's directors,
if Indemnitee is a director, or of the Corporation's officers, if Indemnitee is an officer (and not a director) by such policy.
Upon request, the Corporation must provide to Indemnitee copies of all directors' and officers' liability insurance applications,
binders, policies, declarations, endorsements and other related materials.

 

15.No Duplication of Payments.
The Corporation will not be liable under this Agreement to make any payment to Indemnitee in respect of any Losses to the extent
Indemnitee has otherwise received payment under any insurance policy, any of the Other Indemnity Provisions or otherwise of the
amounts otherwise indemnifiable by the Corporation hereunder.

 

16.Subrogation. If any payment
is made to Indemnitee under this Agreement, the Corporation will be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee. Indemnitee must execute all papers required and must do everything that may be necessary to secure such
rights, including the execution of such documents necessary to enable the Corporation effectively to bring suit to enforce such
rights.

 

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17.Severability. The provisions
of this Agreement are severable if any of the provisions hereof (including any portion thereof) are held by a court of competent
jurisdiction to be invalid, illegal, void or otherwise unenforceable, and the remaining provisions will remain enforceable to the
fullest extent permitted by law. Upon such determination that any term or other provision is invalid, illegal or unenforceable,
the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the greatest extent possible.

 

18.Notices. All notices, requests,
demands and other communications hereunder must be in writing and will be deemed to have been duly given if delivered by hand,
or mailed, by postage prepaid, certified or registered mail:

 

if to Indemnitee, to the address
for Indemnitee in the Corporation’s records

 

if to the Corporation, to:

NTN Buzztime, Inc.

Attn: Board of Directors

2231 Rutherford Rd #200

Carlsbad, CA 92008

 

Notice of any change of address will be effective
only when given in accordance with this Section. All notices complying with this Section will be deemed to have been received on
the date of hand delivery or on the third business day after mailing.

 

19.Governing Law and Forum. This
Agreement will be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to contracts
made and to be performed in such state without giving effect to its principles of conflicts of laws. The Corporation and Indemnitee
hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in connection with this Agreement
will be brought only in the Delaware Court and not in any other state or federal court in the United States, (b) consent to submit
to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with
this Agreement, and (c) waive, and agree not to plead or make, any claim that the Delaware Court lacks venue or that any such action
or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. Each of the parties agrees,
(i) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an
agent in the State of Delaware as such party’s agent for acceptance of legal process, and (ii) that service of process may
also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service
constituting evidence of valid service. Service made pursuant to clauses (i) or (ii) above shall have the same legal force and
effect as if served upon such party personally within the State of Delaware.

 

20.Entire Agreement. This Agreement
embodies the final, entire agreement among the parties hereto with respect to the subject matter hereof and supersedes any and
all prior negotiations, commitments, agreements, representations and understandings, whether written or oral, relating to such
subject matter and may not be contradicted or varied by evidence of prior, contemporaneous or subsequent oral agreements or discussions
of the parties hereto.

 

21.Amendments. No supplement, modification
or amendment of this Agreement will be binding unless executed in writing by the Corporation and Indemnitee. No waiver of any of
the provisions of this Agreement will be binding unless in the form of a writing signed by the party against whom enforcement of
the waiver is sought, and no such waiver will operate as a waiver of any other provisions hereof (whether or not similar), nor
will such waiver constitute a continuing waiver. Except as specifically provided herein, no failure to exercise or any delay in
exercising any right or remedy hereunder will constitute a waiver thereof.

 

22.Binding Effect. This Agreement
is binding upon and inures to the benefit of and be enforceable by the parties hereto and their respective successors (including
any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or
assets of the Corporation), assigns, spouses, heirs and personal and legal representatives. The Corporation must require and cause
any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial
part of the business and/or assets of the Corporation, by written agreement in form and substances satisfactory to Indemnitee,
expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be
required to perform if no such succession had taken place.

 

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23.Headings. The headings of the
sections and paragraphs of this Agreement are inserted for convenience only and are not to be deemed to constitute part of this
Agreement or to affect the construction or interpretation hereof.

 

24.Counterparts. This Agreement
may be executed in one or more counterparts, each of which will for all purposes be deemed to be an original, but all of which
together will constitute one and the same agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

 

 

 

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        CORPORATION:

         

        NTN Buzztime, Inc.

         
	
        INDEMNITEE:

         

	
        By: ___________________

        Name:_________________

        Title:___________________
	
        ______________________________

        Name: ________________________

         

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	11

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