Document:

Exhibit 10.2 

 

EXECUTION VERSION

 

AMENDMENT

 

TO 

 

SPONSOR
AGREEMENT

 

This Amendment to the Sponsor
Agreement (this “Amendment”), dated as of August 29, 2022, is by and among Cohn Robbins Sponsor LLC, a Delaware limited
liability company (the “Sponsor”), Cohn Robbins Holdings Corp., a Cayman
Islands exempted company (“Acquiror”), Allwyn Entertainment AG, a Swiss stock
corporation (Aktiengesellschaft) (“Swiss NewCo”), Clifton S. Robbins,
Gary D. Cohn, Charles S. Kwon, Anne Sheehan, C. Robert Kidder, Alexander T. Robertson and Kathryn A. Hall (the “Insiders”),
and Allwyn AG (f/k/a SAZKA Entertainment AG), a Swiss stock corporation (Aktiengesellschaft) (the “Company”).
The Sponsor, Acquiror, Swiss NewCo, the Insiders and the Company are sometimes referred to herein individually as a “Party”
and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, the Parties
have previously entered into that certain Sponsor Agreement, dated as of January 20, 2022 (the “Sponsor Agreement”);

 

WHEREAS, Acquiror,
Swiss NewCo, the Company, Allwyn US Holdco LLC, a Delaware limited liability company and direct wholly owned subsidiary of Swiss NewCo
(“US HoldCo”), and Allwyn Sub LLC, a Delaware limited liability company and a direct wholly owned subsidiary of US
HoldCo (“DE Merger Sub”), are parties to that certain Business Combination Agreement, dated as of January 20,
2022 (the “Business Combination Agreement”);

 

WHEREAS, concurrently
with the execution and delivery of this Amendment, Acquiror, Swiss NewCo, the Company, US HoldCo and DE Merger Sub have entered into that
certain Amendment to the Business Combination Agreement (the “Business Combination Agreement Amendment”);

 

WHEREAS, in connection
with the execution and delivery of the Business Combination Agreement Amendment and the transactions contemplated thereby, the Parties
desire to amend the Sponsor Agreement as set forth herein; and

 

WHEREAS, Section
13 of the Sponsor Agreement provides that the Sponsor Agreement may be amended or modified, in whole or in part, by a duly authorized
agreement in writing executed in the same manner as the Sponsor Agreement and which makes reference to the Sponsor Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Amendment and the Sponsor Agreement,
and for other good and valuable consideration, the value, receipt and sufficiency of which are hereby acknowledged, the Parties agree
as follows:

 

     

     

    

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Amendment and the Sponsor Agreement,
and for other good and valuable consideration, the value, receipt and sufficiency of which are hereby acknowledged, the Parties agree
as follows:

 

AMENDMENT

 

1. Capitalized
terms in this Amendment that are used but not otherwise defined herein shall have the respective meanings given to them in the Sponsor
Agreement, after giving effect to this Amendment.

 

2. Section
2(a) of the Sponsor Agreement is hereby deleted and replaced in its entirety with the following (specific amended language is included
in bold below solely for presentation purposes):

 

(a) Each
of the Founder Share Holders, including the Sponsor, as applicable, hereby agrees that, immediately prior to the consummation of the Merger
(but subject to the prior satisfaction of all of the conditions to consummation of the Merger set forth in Article X of the Business Combination
Agreement) (i) each such Founder Share Holder shall contribute, transfer, assign, convey, and deliver to Acquiror, and Acquiror shall
acquire and accept from each such Founder Share Holder, all of each such Founder Share Holder’s right, title, and interest in, to
and under such Founder Share Holder’s shares of Acquiror Class B Common Stock and, in exchange therefore, Acquiror shall issue to
each such Founder Share Holder shares of Acquiror Class A Common Stock, free and clear of all Liens as provided below (the “Founder
Share Conversion”) and (ii) the Sponsor shall automatically irrevocably surrender and forfeit to Acquiror for no consideration,
as a contribution to capital, a number of Acquiror Private Placement Warrants, in each of the cases of clauses (i) and (ii),
to be determined as provided below in Section 2(f) (the “Forfeited Warrants”, and such forfeiture, the
“Sponsor Warrant Forfeiture”).

 

3. Section
2(b) of the Sponsor Agreement is hereby deleted and replaced in its entirety with the following (specific amended language is included
in bold below solely for presentation purposes):

 

(b) In connection
with the Founder Share Conversion: 

 

(i)
all 20,540,000 outstanding shares of Acquiror Class B Common Stock held by the Sponsor shall be exchanged and converted into the number
of shares of Acquiror Class A Common Stock equal to (i) 13,340,000, plus any Sponsor Expense Shares earned pursuant
to Section 3(g) below divided by (ii) the Class B Exchange Ratio (such
shares after the Closing and exchange in connection therewith for Swiss NewCo Class B Shares, the “Sponsor Shares,”
which Sponsor Shares, for the avoidance of doubt, shall not include any shares purchased pursuant to the Subscription Agreement);
and 

 

(ii)
all 160,000 outstanding shares of Acquiror Class B Common Stock held
by the Independent Directors shall be exchanged and converted into the number of shares of Acquiror Class A Common Stock equal to (i)
160,000 divided by (ii) the Class B Exchange Ratio.

 

    2

     

    

 

4. Section
2(c) of the Sponsor Agreement is hereby deleted and replaced in its entirety with the following (specific amended language is included
in bold below solely for presentation purposes):

 

(c) For
the avoidance of doubt, immediately following the consummation of the Founder Share Conversation and the Merger, (i) the Sponsor
will hold 13,340,000, plus any Sponsor Expense Shares earned pursuant to Section 3(g) below shares of Swiss NewCo
Class B Shares and (ii) the Independent Directors will hold 160,000 shares of Swiss NewCo Class B Shares.

 

5. The
first sentence of Section 3 of the Sponsor Agreement is hereby deleted and replaced in its entirety with the following (specific
amended language is included in bold below solely for presentation purposes):

 

Following the Closing,
7,500,000 shares of the Swiss NewCo Class B Shares received by the Sponsor prior to the Closing will be subjected to the vesting
provisions set forth in this Section 3, and unless vested in accordance with this Section 3, shall be deemed to be unvested
Sponsor Shares for purposes of this Section 3.

 

6. Section
3(a) of the Sponsor Agreement is hereby deleted and replaced in its entirety with the following (specific amended language is included
in bold below solely for presentation purposes):

 

(a) If,
at any time during the seven (7) years following the Closing Date (the “Measurement Period”), the VWAP of Swiss NewCo
Class B Shares is greater than $12.00 for any twenty (20) Trading Days within a period of thirty (30) consecutive Trading Days (the date
when the foregoing is first satisfied, the “First Earnout Achievement Date”), then fifty percent (50%) of the unvested
Sponsor Shares owned by the Sponsor as of the Founder Share Conversion (that is, 3,750,000 Sponsor Shares) shall vest on the First
Earnout Achievement Date.

 

7. Section
3(b) of the Sponsor Agreement is hereby deleted and replaced in its entirety with the following (specific amended language is included
in bold below solely for presentation purposes):

 

(b) If,
at any time during the Measurement Period, the VWAP of Swiss NewCo Class B Shares is greater than $14.00 for any twenty (20) Trading Days
within a period of thirty (30) consecutive Trading Days (the date when the foregoing is first satisfied, the “Second Earnout
Achievement Date”), then the remaining fifty percent (50%) of the unvested Sponsor Shares owned by the Sponsor as of the Founder
Share Conversion (that is, 3,750,000 Sponsor Shares) shall vest on the Second Earnout Achievement Date.

 

    3

     

    

 

8. Section
3 of the Sponsor Agreement is hereby amended to include the following new Section 3(g):

 

(g) In the event the
Acquiror Transaction Expenses (as defined in the Business Combination Agreement) are less than $55 million (the difference between such
amounts, rounded to the nearest amount divisible by ten (10) (with five (5) being rounded upwards), the “Acquiror Transaction
Expense Difference”), the Sponsor Shares will be increased, so as to compensate the Acquiror Transaction Expense Difference
dollar-for-dollar (on a $10.00 valuation per Sponsor Share), by the number of shares equal to the Acquiror Transaction Expense Difference
divided by $10.00 (such shares, the “Sponsor Expense Shares”) (e.g., (i) if the Acquiror Transaction Difference
Amount is zero, the Sponsor will hold 13,340,000 Sponsor Shares, of which 5,840,000 will automatically vest at the Closing (as defined
in the Business Combination Agreement), (ii) if the Acquiror Transaction Expense Difference is $5,000,000, the Sponsor will hold 13,840,000
Sponsor Shares (13,340,000 plus 500,000 Sponsor Expense Shares), of which 6,340,000 will automatically vest at the Closing and
(iii) if the Acquiror Transaction Expense Difference is $10,000,000, the Sponsor will hold 14,340,000 Sponsor Shares (13,340,000 plus
1,000,000 Sponsor Expense Shares), of which 6,840,000 will automatically vest at the Closing). For the avoidance of doubt, in any
event and regardless of the amount of any of the Acquiror Transaction Expense Difference, 7,500,000 Sponsor Shares will be subject to
the vesting conditions set forth in Section 3 of this Agreement, and, pursuant thereto, fifty percent (50%) of the unvested Sponsor
Shares owned by the Sponsor as of the Founder Share Conversion (i.e., 3,750,000) will vest pursuant to Section 3(a) and the remaining
fifty percent (50%) of the unvested Sponsor Shares owned by the Sponsor as of the Founder Share Conversion (i.e., 3,750,000) will vest
pursuant to Section 3(b)). The number of Sponsor Expense Shares shall be, to the extent practicable, determined prior to the
Closing to enable the issuance of the correct number of Swiss NewCo Class
B Shares to the Sponsor (to be paid up and issued as part of the Company Share Capital Increase (as defined in the Business Combination
Agreement)). To the extent such number cannot be finally determined prior to
the Closing, the number of issuable Swiss NewCo Class B Shares
(to be paid up and issued as part of the Company Share Capital Increase) shall be determined based on the Sponsor’s good faith
and reasonable estimate of the maximum Acquiror Transaction Expense Difference (which may include a reasonable cushion) and such Swiss
NewCo Class B Shares shall be reserved as Sponsor Expense Shares until the final amount of the Acquiror Transaction Expense Difference
is determined. Following such determination of such final amount, any Swiss NewCo Class B Shares so issued and reserved that are finally
not used as Sponsor Expense Shares shall be kept by Swiss NewCo as treasury shares. 

 

9. Except
as expressly amended, modified and/or supplemented by this Amendment, all terms, conditions and provisions of the Sponsor Agreement are
and will remain in full force and effect, and as hereby amended are hereby ratified and confirmed by the Parties to the Sponsor Agreement
and this Amendment in all respects. Without limiting the generality of the foregoing, the amendments, modifications and/or supplements
contained herein will not be construed as an amendment to or waiver of any other provision of the Sponsor Agreement or as a waiver of
or consent to any further or future action on the part of any Party that would require the waiver or consent of any other Party. On and
after the date hereof, each reference in the Sponsor Agreement to “this Agreement,” “the Agreement,” “hereunder,”
“hereof,” “herein,” or words of like import, and each reference to the Sponsor Agreement in any other agreements,
documents or instruments executed and delivered pursuant to, or in connection with, the Sponsor Agreement, the Business Combination Agreement
and the Ancillary Agreements (as defined in the Business Combination Agreement) will mean and be a reference to the Sponsor Agreement,
as amended, modified and/or supplemented by this Amendment.

 

10. In
the event of any inconsistency or conflict between the terms and provisions of the Sponsor Agreement, on the one hand, and this Amendment,
on the other hand, the terms and provisions of this Amendment shall govern and control.

 

11. The
provisions contained in Sections 7 through 17 of the Sponsor Agreement are hereby incorporated by reference into this Amendment,
mutatis mutandis, and made a part of this Amendment as if set forth fully herein.

 

[Signature Page Follows]

 

    4

     

    

 

IN WITNESS WHEREOF, the Parties have executed
this Amendment as of the date first above written.

 

	 	COHN ROBBINS SPONSOR LLC
	 	 	 	 
	 	By:	/s/ Clifton S. Robbins
	 	 	Name:	Clifton S. Robbins
	 	 	Title:	Manager
	 	 	 	 
	 	COHN ROBBINS HOLDINGS CORP.
	 	 	 	 
	 	By:	/s/ Clifton S. Robbins
	 	 	Name:	Clifton S. Robbins
	 	 	Title:	Co-Chairman
	 	 	 	 
	 	ALLWYN AG
	 	 	 	 
	 	By:	/s/ Robert Chvatal
	 	 	Name:	Robert Chvatal
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	By:	/s/ Jan Matuska
	 	 	Name:	Jan Matuska
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	ALLWYN ENTERTAINMENT AG
	 	 	 	 
	 	By:	/s/ Robert Chvatal
	 	 	Name:	Robert Chvatal
	 	 	Title:	Member of the Board of Directors
	 	 	 	 
	 	By:	/s/ Jan Matuska
	 	 	Name:	Jan Matuska
	 	 	Title:	Member of the Board of Directors

 

[Signature Page to Amendment to the
Sponsor Agreement]

 

     

     

    

 

	 	GARY D. COHN
	 	 	 	 
	 	By:	/s/ Gary D. Cohn
	 	 	Name:	Gary D. Cohn
	 	 	 	 
	 	CLIFTON S. ROBBINS
	 	 	 	 
	 	By:	/s/ Clifton S. Robbins
	 	 	Name:	Clifton S. Robbins
	 	 	 	 
	 	CHARLES S. KWON
	 	 	 	 
	 	By:	/s/ Charles S. Kwon
	 	 	Name:	Charles S. Kwon
	 	 	 	 
	 	C. ROBERT KIDDER
	 	 	 	 
	 	By:	/s/ C. Robert Kidder
	 	 	Name:	C. Robert Kidder
	 	 	 	 
	 	ALEXANDER T. ROBERTSON
	 	 	 	 
	 	By:	/s/ Alexander T. Robertson
	 	 	Name:	Alexander T. Robertson
	 	 	 	 
	 	ANNE SHEEHAN
	 	 	 	 
	 	By:	/s/ Anne Sheehan
	 	 	Name:	Anne Sheehan
	 	 	 	 
	 	KATHRYN A. HALL
	 	 	 	 
	 	By:	/s/ Kathryn A. Hall
	 	 	Name:	Kathryn A. Hall

 

[Signature Page to Amendment to the
Sponsor Agreement]Exhibit 10.3

 

AMENDMENT TO SUBSCRIPTION AGREEMENT

 

This Amendment to the Subscription
Agreement (this “Amendment”) is entered into as of August 29, 2022, by and between Cohn Robbins Holdings Corp., a Cayman
Islands exempted company limited by shares (“SPAC”), Allwyn Entertainment AG, a Swiss stock corporation (Aktiengesellschaft)
with registered office at c/o SAZKA Entertainment AG, Weinmarkt 9, 6004 Lucerne, Switzerland and registered in the commercial register
Lucerne under registration number CHE- 157.119.805 (“Issuer”)
and Cohn Robbins Sponsor LLC (“Investor”
and together with SPAC and Issuer, the “Parties”). Capitalized terms used in this Amendment and not defined herein
shall have the meanings set forth in the Subscription Agreement (as defined below).

 

R E C I T A L S

 

WHEREAS, the Parties have
entered into that certain Subscription Agreement, dated as of January 20, 2022 (the “Subscription Agreement”); and

 

WHEREAS, the Parties desire
to amend the terms of the Subscription Agreement, in accordance with Section 11(e) thereof, as more fully set forth in this
Amendment.

 

NOW THEREFORE, the Parties
hereby agree as follows:

 

	1.	Amendments to Subscription Shares Multiplier:

 

		(a)	The fifth whereas clause on the first page of the Subscription Agreement shall be amended and replaced
with the following (amended language in bold font):

 

WHEREAS, subject to the terms
and conditions of this Subscription Agreement, the Investor desires to acquire from Issuer in exchange for a cash contribution, and Issuer
desires to provide to the Investor, the number of Shares (the “Subscription Shares”) equal to (x) the number of Base Shares
(as defined and set forth on the signature page of this Subscription Agreement) multiplied by (y) the Class B Exchange Ratio (as
defined in the Transaction Agreement);

 

		(b)	The Number of Subscription Shares to be purchased, as set forth on the signature page to the Subscription
Agreement, is hereby amended by replacing “1.08” with “the Class B Exchange Ratio (as defined in the Transaction Agreement)”.

 

	2.	Subscription Agreement in Full Force and Effect. Except
as expressly amended by this Amendment, this Amendment shall not constitute a waiver or amendment of any term or condition of the Subscription
Agreement, or the documents delivered pursuant thereto, and all such terms and conditions shall remain in full force and effect and are
hereby ratified and confirmed in all respects. Upon the execution hereof, this Amendment and the Subscription Agreement shall constitute
one agreement. On and after the date hereof, each reference in the Subscription Agreement to “this Agreement”, “hereunder”,
“hereof”, “herein” or words of like import referring to the Subscription Agreement, and each reference to the
Subscription Agreement in any other agreements, documents or instruments executed and delivered pursuant to or in connection with the
Subscription Agreement, shall be deemed to mean and be a reference to the Subscription Agreement as amended by this Amendment. For the
avoidance of doubt, references to the date of the Subscription Agreement, as amended by this Amendment, shall in all instances continue
to refer to January 20, 2022, and references to “the date hereof” and “the date of this Agreement” shall continue
to refer to January 20, 2022.

 

	3.	The provisions contained in Sections 11(l) and 11(m)
of the Subscription Agreement are hereby incorporated by reference into this Amendment, mutatis mutandis, and made a part
of this Amendment as if set forth fully herein.

 

	4.	This Amendment may be executed in counterparts, each of which
shall be deemed to be an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this
Amendment delivered by e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of
an original signed copy of this Amendment.

 

[Signature Pages Follow]

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned
has caused this Amendment to be executed and delivered as of the date first written above.

 

	 	COHN ROBBINS SPONSOR LLC
	 	 	 	 
	 	By:	/s/ Clifton S. Robbins
	 	 	Name: 	Clifton S. Robbins
	 	 	Title:	Manager
	 	 	 	 
	 	By:	/s/ Gary D. Cohn
	 	 	Name:	Gary D. Cohn
	 	 	Title:	Manager

 

[Signature Page to Amendment
to Subscription Agreement]

 

     

     

    

 

	 	ALLWYN ENTERTAINMENT AG
	 	 	 	 
	 	By:	/s/ Robert Chvatal
	 		Name:	Robert Chvatal
	 		Title:	Member of the Board of Directors
	 	 	 	 
	 	By:	/s/ Jan Matuska
	 		Name: 	Jan Matuska 
	 		Title:	Member of the Board of Directors

 

[Signature Page to Amendment
to Subscription Agreement]

 

     

     

    

 

	 	COHN ROBBINS HOLDINGS CORP.
	 	 	 	 
	 	By:	/s/ Clifton S.
    Robbins
	 		Name: 	Clifton S. Robbins
	 		Title:	Co-Chairman

 

[Signature
Page to Amendment to Subscription Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]