Document:

Exhibit
10.5

Page
1 of 34 

 

 

 

AGREEMENT
AND PLAN OF MERGER

 

by
and among

 

RDE,
INC.,

 

GAMEIQ
ACQUISITION CORP., and

 

GAMEIQ,
INC.

 

Dated
as of January 31, 2022

 

 

 

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Page
2 of 34

 

AGREEMENT
AND PLAN OF MERGER

 

This
Agreement and Plan of Merger (this “Agreement”) is made and entered into as of January 31, 2022 by and among
(i) RDE, Inc., a Delaware corporation (“RDE”), (ii) GameIQ Acquisition Corp., a Delaware corporation and a
wholly-owned subsidiary of RDE (“Merger Sub”), and (iii) GameIQ, Inc., a California corporation (“GameIQ”).
RDE, Merger Sub and GameIQ are sometimes referred to herein individually as a “Party” and, collectively, as
the “Parties”.

 

RECITALS:

 

A.
GameIQ is a developer of consumer gamification technologies for retail businesses;

 

B.
RDE owns all of the issued and outstanding capital stock of Merger Sub, which was formed for the sole purpose of the Merger (as defined
below);

 

C.
The Parties intend to effect the merger of Merger Sub with and into GameIQ, with GameIQ continuing as the surviving entity (the “Merger”),
as a result of which GameIQ will continue as a wholly-owned subsidiary of RDE and all of the issued and outstanding capital stock of
GameIQ immediately prior to the Effective Time shall no longer be outstanding and shall automatically be cancelled and shall cease to
exist in exchange for the right for each GameIQ Stockholder to receive its Pro Rata Share (as defined herein) of the Merger Consideration
(as defined herein);

 

D.
Simultaneously with the execution and delivery of this Agreement, RDE shall enter into an Employment Agreement with Balazs Wellisch in
the form of which is attached as Exhibit A hereto which will become effective as of the Closing;

 

E.
The Parties intend that the Merger will qualify as a tax-free “reorganization” within the meaning of Section 368(a) of the
Code (as defined herein); and

 

F.
Following the Merger, GameIQ shall merge with and into Restaurant.com, Inc., a wholly-owned subsidiary of RDE.

 

G.
Certain capitalized terms used herein are defined in Article X hereof.

 

NOW,
THEREFORE, in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below,
and the representations, warranties, covenants and agreements contained in this Agreement, and intending to be legally bound hereby,
the Parties hereto agree as follows:

 

Article
I

MERGER

 

1.1
Merger. At the Effective Time, and subject to and upon the terms and conditions of this Agreement, and in accordance with the
applicable provisions of the DGCL, Merger Sub and GameIQ shall consummate the Merger, pursuant to which Merger Sub shall be merged with
and into GameIQ, following which the separate corporate existence of Merger Sub shall cease and GameIQ shall continue as the surviving
corporation. GameIQ, as the surviving corporation after the Merger, is hereinafter sometimes referred to as the “Surviving
Corporation”. Following the Merger, GameIQ shall merge with and into Restaurant.com, Inc., a wholly-owned subsidiary of
RDE.

 

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1.2
Effective Time. The Parties hereto shall cause the Merger to be consummated by filing the Certificate of Merger for the merger
of Merger Sub with and into GameIQ (the “Certificate of Merger”) with the Secretary of State of the State of
Delaware in accordance with the relevant provisions of the DGCL (the time of such filing, or such later time as may be specified in the
Certificate of Merger, being the “Effective Time”).

 

1.3
Effect of the Merger. At the Effective Time, the effect of the Merger shall be as provided in this Agreement, the Certificate
of Merger and the applicable provisions of the DGCL. Without limiting the generality of the foregoing, and subject thereto, at the Effective
Time, all the property (other than cash assets used to pay GameIQ Expenses), rights, privileges, agreements, powers and franchises, debts,
Liabilities, duties and obligations of GameIQ and Merger Sub shall become the property, rights, privileges, agreements, powers and franchises,
debts, Liabilities, duties and obligations of the Surviving Corporation, which shall include the assumption by the Surviving Corporation
of any and all agreements, covenants, duties and obligations of Merger Sub and GameIQ set forth in this Agreement to be performed after
the Effective Time.

 

1.4
Tax Treatment. For federal income tax purposes, the Merger is intended to constitute a “reorganization” within the meaning
of Section 368 of the Code. The Parties adopt this Agreement as a “plan of reorganization” within the meaning of Sections
1.368-2(g) and 1.368-3(a) of the United States Treasury Regulations.

 

1.5
Articles of Incorporation and Bylaws. At the Effective Time, the Articles of Incorporation and Bylaws of GameIQ, each as in effect
immediately prior to the Effective Time, shall be the Articles of Incorporation and Bylaws of the Surviving Corporation.

 

1.6
Directors and Officers of the Surviving Corporation. At the Effective Time, the board of directors and executive officers of the
Surviving Corporation shall be the board of directors and executive officers of Restaurant.com, after giving effect to Section 5.121,
each to hold office in accordance with the Certificate of Incorporation and Bylaws of the Surviving Corporation until their respective
successors are duly elected or appointed and qualified or their earlier death, resignation or removal.

 

1.7
Merger Consideration. As consideration for the Merger, at the Closing, RDE will issue to GameIQ Stockholders as of the Record
Date 600,000 restricted shares of RDE Common Stock based on an exchange ratio of one shares of RDE Common Stock for every XX shares of
GameIQ Common Stock submitted (the “Merger Consideration”). No fractional shares of RDE Common Stock shall
be issued. In lieu of any fractional share of RDE Common Stock issuable to any GameIQ Stockholder hereunder, RDE shall round up to the
next whole applicable share.

 

1.8
Effect of Merger. At the Effective Time, by virtue of the Merger and without any action on the part of any Party or the holders
of any GameIQ Securities or the holders of any shares of capital stock of RDE or Merger Sub:

 

1.8.1
GameIQStock. Subject to clause (b) below, all shares of GameIQ Stock issued and outstanding immediately prior to the Effective
Time will automatically be cancelled and cease to exist in exchange for the right to receive the Merger Consideration with each GameIQ
Stockholder being entitled to receive its portion of the Merger Consideration in accordance with Section 1.7 above, without interest.
As of the Effective Time, each GameIQ Stockholder shall cease to have any other rights in and to GameIQ or the Surviving Corporation
(other than (i) to receive any dividend or other distribution with respect to such GameIQ Stock with a record date occurring prior to
the Effective Time, if applicable, (ii) to receive the Merger Consideration, or (iii) the rights set forth in Section 1.9 below).

 

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1.8.2
Merger Sub Common Stock. All of the shares of Merger Sub Common Stock held by RDE prior to the Closing shall be converted into
an equal number of shares of the Surviving Corporation upon the consummation of the Merger and will represent all of the issued and outstanding
securities of the Surviving Corporation after the Closing such that the Surviving Corporation will be a wholly owned subsidiary of RDE
after the Closing.

 

1.8.3
GameIQ Convertible Securities. Each GameIQ Convertible Security, other than GameIQ Options outstanding at Closing, if not exercised
or converted prior to the Effective Time, shall be cancelled, retired and terminated and cease to represent a right to acquire, be exchanged
for or convert into shares of GameIQ Stock. GameIQ Options to purchase 788,193 shares of GameIQ Common Stock shall be treated as fully
exercised at Closing and the holders thereof shall receive the Merger Consideration on the same terms and at the same time as GameIQ
Stockholders.

 

1.9
Appraisal and Dissenter’s Rights. No GameIQ Stockholder who has validly exercised its appraisal rights pursuant to Section 1300
of the California Corporations Code (a “Dissenting Stockholder”) with respect to its GameIQ Stock (such shares, “Dissenting
Shares”) shall be entitled to receive any portion of the Merger Consideration with respect to the Dissenting Shares owned by such
Dissenting Stockholder unless and until such Dissenting Stockholder shall have effectively withdrawn or lost its appraisal rights under
the California Corporations Code (“CCC”). Each Dissenting Stockholder shall be entitled to receive only the payment resulting
from the procedure set forth in Section 1300 of the CCC with respect to the Dissenting Shares owned by such Dissenting Stockholder (the
“Cash Consideration”). RDE and GameIQ shall coordinate presentation of the terms and conditions of the Merger and this Agreement
to the minority GameIQ Stockholders. If GameIQ is notified by any GameIQ Stockholder that the GameIQ Stockholder is exercising his or
her or its dissenter’s rights under Section 1300 of the CCC, GameIQ shall give RDE (i) prompt notice of any such notice and any
written demands for appraisal, attempted withdrawals of such demands, and any other instruments served pursuant to applicable Laws that
are received by the Company relating to any Dissenting Stockholder’s rights of appraisal, and (ii) the opportunity to participate
in all negotiations and proceedings with respect to demand for appraisal under the CCC. GameIQ shall not, except with the prior written
consent of RDE, voluntarily make any payment with respect to any demands for appraisal, offer to settle or settle any such demands or
approve any withdrawal of any such demands. Notwithstanding anything to the contrary contained in this Agreement, for all purposes of
this Agreement, the Merger Consideration shall be reduced by the Pro Rata Share of any Dissenting Stockholders attributable to any Dissenting
Shares and the Dissenting Stockholders shall have no rights to any portion of the Merger Consideration with respect to any Dissenting
Shares.

 

1.10
Officer and Director Loans. At Closing, RDE shall issue promissory notes to Balazs Wellisch and Quentin Blackford, in the forms
attached hereto as Exhibits A and B, respectively, in the principal amounts of $78,812.60 and $62,100.58, respectively,
bearing interest at 1% per annum, to repay loans by Messrs. Wellisch and Blackford to GameIQ to provide necessary funding during the
COVID-19 pandemic (the “Notes”). Each Note shall require repayment in six (6) equal biannual installments with
the first installment due on the six-month anniversary of the Closing Date.

 

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Article
II

CLOSING

 

2.1
Closing. Subject to and conditional upon the satisfaction or waiver of the Closing Conditions, the consummation of the
transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of Culhane Meadows
PLLC, 1700 Pennsylvania Avenue, N.W., Suite 200, Washington, D.C. 20006 on the second (2nd) Business Day after all the Closing
conditions to this Agreement have been satisfied or waived at 10:00 a.m. local time, or at such other date, time or place as RDE and
GameIQ may agree (the date and time at which the Closing is actually held being the “Closing Date”). The Parties
need not be physically present at the Closing and may participate telephonically. It is contemplated that the Closing will take place
contemporaneously with (or immediately following) the execution and delivery of this Agreement.

 

Article
III

REPRESENTATIONS
AND WARRANTIES OF RDE

 

Except
as set forth in the disclosure schedules delivered by RDE to GameIQ on the date hereof (the “RDE Disclosure Schedules”),
the Section numbers of which are numbered to correspond to the Section numbers of this Agreement to which they refer, or in RDE’s
publicly filed documents with the OTC Venture Market (OTCQB:RSTN) (“OTC Reports”), RDE represents and warrants
to GameIQ, as of the date hereof and as of the Closing, as follows:

 

3.1
Organization and Standing. RDE is a corporation duly incorporated, validly existing and in good standing under the state
of Delaware. Merger Sub is a corporation duly incorporated, validly existing and in good standing under the state of Delaware. RDE has
all requisite corporate power and authority to own, lease and operate its properties and to carry on its business as now being conducted.
RDE is duly qualified or licensed and in good standing to do business in each jurisdiction in which the character of the property owned,
leased or operated by it or the nature of the business conducted by it makes such qualification or licensing necessary. RDE has heretofore
made available to GameIQ accurate and complete copies of the Organizational Documents of RDE and Merger Sub, each as currently in effect.
Neither RDE nor Merger Sub is in violation of any provision of its Organizational Documents.

 

3.2
Authorization; Binding Agreement. Each of RDE and Merger Sub has all requisite corporate power and authority to execute and deliver
this Agreement, to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby. The execution
and delivery of this Agreement and the consummation of the transactions contemplated hereby (a) have been duly and validly authorized
by the board of directors of RDE and Merger Sub, and (b) no other corporate proceedings, other than as set forth elsewhere in the Agreement,
on the part of RDE or Merger Sub are necessary to authorize the execution and delivery of this Agreement or to consummate the transactions
contemplated hereby. This Agreement has been duly and validly executed and delivered by RDE and/or Merger Sub, as applicable, and, assuming
the due authorization, execution and delivery of this Agreement, constitutes, or when delivered shall constitute, the valid and binding
obligation of RDE and/or Merger Sub, as applicable, enforceable against RDE and/or Merger Sub, as applicable, in accordance with its
terms, except to the extent that enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization and moratorium
laws and other laws of general application affecting the enforcement of creditors’ rights generally or by any applicable statute
of limitation or by any valid defense of set-off or counterclaim, and the fact that equitable remedies or relief (including the remedy
of specific performance) are subject to the discretion of the court from which such relief may be sought (collectively, the “Enforceability
Exceptions”).

 

3.3
Governmental Approvals. No Consent of or with any Governmental Authority, on the part of RDE or Merger Sub is required
to be obtained or made in connection with the execution, delivery or performance by RDE or Merger Sub of this Agreement or the consummation
by RDE and Merger Sub of the transactions contemplated hereby, other than (a) such filings as contemplated by this Agreement, (b) any
filings required with FINRA or the SEC with respect to the transactions contemplated by this Agreement, (c) applicable requirements,
if any, of the Securities Act, the Exchange Act, and/ or any state “blue sky” securities Laws, and the rules and regulations
thereunder, and (d) where the failure to obtain or make such Consents or to make such filings or notifications, would not reasonably
be expected to have a Material Adverse Effect on RDE.

 

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3.4
Non-Contravention. The execution and delivery by RDE and Merger Sub of this Agreement, the consummation by RDE and Merger
Sub of the transactions contemplated hereby, and compliance by RDE and Merger Sub with any of the provisions hereof and thereof, will
not (a) conflict with or violate any provision of RDE’s or Merger Sub’s Organizational Documents, (b) subject to obtaining
the Consents from Governmental Authorities referred to in Section 3.3 hereof, and any condition precedent to such Consent or waiver
having been satisfied, conflict with or violate any Law, Order or Consent applicable to RDE or Merger Sub or any of their respective
properties or assets, or (c) (i) violate, conflict with or result in a breach of, (ii) constitute a default (or an event which, with
notice or lapse of time or both, would constitute a default) under, (iii) result in the termination, withdrawal, suspension, cancellation
or modification of, (iv) accelerate the performance required by RDE or Merger Sub under, (v) result in a right of termination or acceleration
under, (vi) give rise to any obligation to make payments or provide compensation under, (vii) result in the creation of any Lien upon
any of the properties or assets of RDE or Merger Sub under, (viii) give rise to any obligation to obtain any third party Consent or provide
any notice to any Person or (ix) give any Person the right to declare a default, exercise any remedy, claim a rebate, chargeback, penalty
or change in delivery schedule, accelerate the maturity or performance, cancel, terminate or modify any right, benefit, obligation or
other term under, any of the terms, conditions or provisions of, any RDE Material Contract, except for any deviations from any of the
foregoing clauses (a), (b) or (c) that would not reasonably be expected to have a Material Adverse Effect on RDE.

 

3.5
Capitalization

 

(a)
RDE is authorized to issue (i) 750,000,000 shares of RDE Common Stock and (ii) 10,000,000 shares of RDE Preferred Stock. The issued and
outstanding shares of RDE Common Stock as of the date of this Agreement are set forth on Schedule 3.5(a). There are no outstanding
shares of RDE Preferred Stock. Prior to giving effect to the Merger, Merger Sub is authorized to issue 1,000 shares of Merger Sub Common
Stock, of which 1,000 shares are issued and outstanding and all of which are owned by RDE. All outstanding shares of RDE Common Stock
are duly authorized, validly issued, fully paid and non-assessable and not subject to or issued in violation of any purchase, right of
first refusal, preemptive right, subscription right or any similar right under any provision of the DGCL under, the RDE Organizational
Documents or any Contract to which RDE is a party. All of the outstanding RDE Common Stock has been issued in compliance with applicable
securities Laws.

 

(b)
Except as set forth in the OTC Reports or on Schedule 3.5(b), there are no (i) outstanding warrants, puts, calls, convertible
securities, preemptive or similar rights, (ii) bonds, debentures, notes or other Indebtedness having general voting rights or that are
convertible or exchangeable into securities having such rights or (iii) subscriptions or other rights, agreements, arrangements, Contracts
or commitments of any character (other than this Agreement), (A) relating to the issued or unissued shares of RDE or Merger Sub capital
stock or (B) obligating RDE or Merger Sub to issue, transfer, deliver or sell or cause to be issued, transferred, delivered, sold or
repurchased any shares or securities convertible into or exchangeable for such shares, or (C) obligating RDE or Merger Sub to grant,
extend or enter into any warrant, call, subscription or other right, agreement, arrangement or commitment for such shares of capital
stock. There are no outstanding obligations of RDE or Merger Sub to repurchase, redeem or otherwise acquire any shares of RDE or Merger
Sub capital stock or to provide funds to make any investment (in the form of a loan, capital contribution or otherwise) in any Person.
There are no shareholders agreements, voting trusts or other agreements or understandings to which RDE is a party with respect to the
voting of any shares of RDE or Merger Sub capital stock.

 

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3.6
Indebtedness; Merger Sub Activities. Immediately prior to the Closing, RDE will not have any Indebtedness. Since its formation,
Merger Sub has not engaged in any business activities other than as contemplated by this Agreement, does not own directly or indirectly
any ownership, equity, profits or voting interest in any Person and has no assets, Liabilities or Indebtedness except those incurred
in connection with this Agreement.

 

3.7
SEC Filings and Financials

 

(a)
On or before the Closing Date, RDE will have filed all forms, reports, schedules, statements, registration statements, prospectuses and
other documents required to be filed or furnished by RDE with OTC Markets, together with any amendments, restatements or supplements
thereto, and will file all such forms, reports, schedules, statements and other documents required to be filed subsequent to the date
of this Agreement (the “OTC Reports”). The OTC Reports (x) will be prepared in all material respects in accordance
with the requirements of the Securities Act and the Exchange Act, as the case may be, and the rules and regulations thereunder and (y)
will not, as of their respective effective dates (in the case of OTC Reports that are registration statements filed pursuant to the requirements
of the Securities Act) and at the time they were filed with the SEC or OTC Markets (in the case of all other OTC Reports) contain any
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the
statements made therein, in the light of the circumstances under which they were made, not misleading.

 

(b)
The financial statements and notes contained or incorporated by reference in the OTC Reports filed by RDE for the (x) fiscal years ended
December 31, 2019, and December 31, 2020 and (y) the nine-month periods ended September 30, 2021 and September 30, 2020 (the “RDE
Financials”), fairly present in all material respects the financial position and the results of operations, changes in
shareholders’ equity, and cash flows of RDE at the respective dates of and for the periods referred to in such financial statements,
all in conformity with (i) GAAP in effect as of the respective dates thereof applied on a consistent basis throughout the periods involved
(except, in the case of the unaudited statements, subject to normal year-end audit adjustments none of which are material individually
or in the aggregate, and the absence of footnotes, none of which, if presented, would materially differ from those in the most recent
audited financial statements and (ii) comply in all material respects with the applicable accounting requirements and with the rules
and regulations of the SEC, the Exchange Act and the Securities Act in effect as of the respective dates thereof, as applicable (except
as may be indicated in the notes thereto and for the omission of notes and audit adjustments in the case of unaudited quarterly financial
statements to the extent permitted by Regulation S-X or Regulation S-K, as applicable).

 

(c)
Except as otherwise disclosed in the OTC Reports or on Schedule 3.7, since September 31, 2021, RDE has not incurred any Liabilities
or obligations of the type required to be reflected on a balance sheet in accordance with GAAP that is not adequately reflected or reserved
on or disclosed in the RDE Financials or the notes thereto other than: (i) Liabilities incurred in connection with this Agreement, or
(ii) Liabilities incurred in the ordinary course of business that have not had and would not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect.

 

3.8
Compliance with Laws. RDE is, and has since January 1, 2017, been, in compliance with all Laws applicable to it and the
conduct of its business except for such noncompliance which would not reasonably be expected to have a Material Adverse Effect on RDE,
and RDE has not received since January 1, 2017, written notice alleging any violation of applicable Law in any material respect by RDE.

 

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3.9
Actions; Orders; Permits. There is no pending or, to the Knowledge of RDE, threatened material Action to which RDE is subject
which would reasonably be expected to have a Material Adverse Effect on RDE. There is no material Action that RDE has pending against
any other Person. RDE is not subject to any material Orders of any Governmental Authority, nor are any such Orders pending. RDE holds
all material Permits necessary to lawfully conduct its business as presently conducted, and to own, lease and operate its assets and
properties, all of which are in full force and effect, except where the failure to hold such Consent or for such Consent to be in full
force and effect would not reasonably be expected to have a Material Adverse Effect on RDE.

 

3.10
Taxes and Returns.

 

(a)
RDE has or will have timely filed, or caused to be timely filed (subject to filing extensions), all material Tax Returns required to
be filed by it for the tax years 2016 and later, which Tax Returns are true, accurate, correct and complete in all material respects,
and has paid, collected or withheld, or caused to be paid, collected or withheld, all material Taxes required to be paid, collected or
withheld, other than such Taxes for which adequate reserves in RDE Financials have been established in accordance with GAAP. There are
no audits, examinations, investigations or other proceedings pending against RDE in respect of any Tax, and RDE has not been notified
in writing of any proposed Tax claims or assessments against RDE (other than, in each case, claims or assessments for which adequate
reserves in the RDE Financials have been established in accordance with GAAP or are immaterial in amount). There are no Liens with respect
to any Taxes upon any of RDE’s assets, other than Permitted Liens. RDE has no outstanding waivers or extensions of any applicable
statute of limitations to assess any material amount of Taxes. There are no outstanding requests by RDE for any extension of time within
which to file any Tax Return or within which to pay any Taxes shown to be due on any Tax Return.

 

(b)
Since January 1, 2017, RDE has not (i) changed any Tax accounting methods, policies or procedures except as required by a change in Law,
(ii) made, revoked, or amended any material Tax election, (iii) filed any amended Tax Returns or claim for refund or (iv) entered into
any closing agreement affecting or otherwise settled or compromised any material Tax Liability or refund.

 

3.11
Employees and Employee Benefit Plans. RDE does not (a) have any paid employees or (b) maintain, sponsor, contribute to or otherwise
have any Liability under, any Benefit Plans.

 

3.12
Properties. RDE does not own, license or otherwise have any right, title or interest in any material Intellectual Property.
RDE does not own or lease any material real property or Personal Property.

 

3.13
Material Contracts. Except as set forth in the OTC Reports or on Schedule 3.13, other than this Agreement, there
are no Contracts to which RDE is a party or by which any of its properties or assets may be bound, subject or affected, which (i) creates
or imposes a Liability greater than $10,000, (ii) may not be cancelled by RDE on less than sixty (60) days’ prior notice without
payment of a material penalty or termination fee or (iii) prohibits, prevents, restricts or impairs in any material respect any business
practice of RDE as its business is currently conducted, any acquisition of material property by RDE, or restricts in any material respect
the ability of RDE from engaging in business as currently conducted by it or from competing with any other Person (each, a “RDE
Material Contract”). All RDE Material Contracts have been filed as exhibits to the OTC Reports.

 

3.14
Transactions with Affiliates. Except as set forth in the OTC Reports or on Schedule 3.14, there are no contracts or arrangements
that are in existence as of the date of this Agreement under which there are any existing or future Liabilities or obligations between
RDE and any (a) present or former director, officer or employee or Affiliate of RDE, or any immediate family member of any of the foregoing,
or (b) record or beneficial owner of more than five percent (5%) of RDE’s outstanding capital stock as of the date hereof.

 

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3.15
Finders and Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or
commission from RDE, Merger Sub or any of their respective Affiliates in connection with the transactions contemplated hereby based upon
arrangements made by or on behalf of RDE.

 

3.16
Ownership of Contribution Consideration. All shares of RDE Common Stock to be issued and delivered to GameIQ Stockholders as Merger
Consideration in accordance with Article I shall be, upon issuance and delivery of such shares of RDE Common Stock, fully paid
and non-assessable, free and clear of all Liens, other than restrictions arising from applicable securities Laws, and any Liens incurred
by GameIQ or any GameIQ Stockholder, and the issuance and sale of such RDE Common Stock pursuant hereto will not be subject to or give
rise to any preemptive rights or rights of first refusal.

 

3.17
Independent Investigation. RDE has conducted its own independent investigation, review and analysis of the business, results
of operations, prospects, condition (financial or otherwise) or assets of GameIQ and acknowledges that it has been provided adequate
access to the personnel, properties, assets, premises, books and records, and other documents and data of GameIQ for such purpose. RDE
acknowledges and agrees that: (a) in making its decision to enter into this Agreement and to consummate the transactions contemplated
hereby, it has relied solely upon its own investigation and the express representations and warranties of GameIQ set forth in Article
IV (including the related portions of the GameIQ Disclosure Schedules); and (b) none of GameIQ or its Representatives have made any
representation or warranty as to GameIQ, or this Agreement, except as expressly set forth in Article IV (including the related
portions of GameIQ Disclosure Schedules).

 

3.18
No Other Representations and Warranties. Except for the representations and warranties of RDE and Merger Sub expressly set forth
above in this Article III (as qualified by the RDE Disclosure Schedule) or in a certificate delivered pursuant to this Agreement,
GameIQ acknowledges and agrees that (1) none of RDE or Merger Sub or any of their respective Affiliates is making and none of them has
made any representations or warranties, express or implied, relating to itself or its business, operations, assets, liabilities, conditions
(financial or otherwise) or prospects or otherwise in connection with the transactions contemplated by this Agreement, including the
Merger, and none of GameIQ or its Affiliates or Representatives is relying on any representation or warranty of RDE, Merger Sub or any
of their respective affiliates except for those expressly set forth in Article III (as qualified by the RDE Disclosure Schedule),
and (2) no person has been authorized by RDE or the Merger Sub or any of their respective Affiliates to make any representation or warranty
relating to RDE, Merger Sub or any of their respective Affiliates or their respective businesses or otherwise in connection with the
transactions contemplated by this Agreement, including the Merger, and if made, such representation or warranty has not been and shall
not be relied upon by GameIQ. Except as otherwise expressly provided in this Agreement and to the extent any such information is expressly
included in a representation or warranty contained in Article III (as qualified by the RDE Disclosure Schedule), GameIQ agrees
and acknowledges that, in connection with the Merger and the other transactions contemplated by this Agreement, neither RDE or Merger
Sub nor any other person will have or be subject to any liability or obligation to GameIQ or any of its Subsidiaries or Affiliates resulting
from the distribution or failure to distribute to GameIQ, or GameIQ’s use of, any such information, including any information,
documents, or materials, made available to GameIQ in any format in connection with the Merger or management presentations in expectation
of the transactions contemplated by this Agreement.

 

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Article
IV

REPRESENTATIONS
AND WARRANTIES OF GAMEIQ

 

Except
as set forth in the disclosure schedules delivered by GameIQ to RDE on the date hereof (the “GameIQ Disclosure Schedules”),
the Section numbers of which are numbered to correspond to the Section numbers of this Agreement to which they refer, GameIQ hereby represents
and warrants to RDE, as of the date hereof and as of the Closing, as follows:

 

4.1
Organization and Standing. GameIQ is a corporation duly incorporated, validly existing and in good standing under the state
of California and has all requisite corporate power and authority to own, lease and operate its properties and to carry on its business
as now being conducted. GameIQ has heretofore made available to RDE accurate and complete copies of the Organizational Documents of GameIQ,
as currently in effect. GameIQ is not in violation of any provision of its Organizational Documents. GameIQ is duly qualified or licensed
and in good standing to do business in each jurisdiction in which the character of the property owned, leased or operated by it or the
nature of the business conducted by it makes such qualification or licensing necessary. GameIQ has heretofore made available to RDE accurate
and complete copies of the Organizational Documents of GameIQ as currently in effect. GameIQ is not in violation of any provision of
its Organizational Documents.

 

4.2
Authorization; Binding Agreement. GameIQ has all requisite corporate power and authority to execute and deliver this Agreement,
to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby. The execution and delivery
of this Agreement and the consummation of the transactions contemplated hereby (a) have been duly and validly authorized by the board
of directors of GameIQ, (b) have been approved by a vote of not less than a majority of the GameIQ Stockholders, and (c) no other corporate
proceedings, other than as set forth elsewhere in the Agreement, on the part of GameIQ are necessary to authorize the execution and delivery
of this Agreement or to consummate the transactions contemplated hereby. This Agreement has been, duly and validly executed and delivered
by GameIQ, as applicable, and, assuming the due authorization, execution and delivery of this Agreement constitutes, or when delivered
shall constitute, the valid and binding obligation of GameIQ, as applicable, enforceable against GameIQ in accordance with its terms,
except to the extent that enforceability thereof may be limited by the Enforceability Exceptions.

 

4.3
Subsidiaries. GameIQ does not own, of record or beneficially, or control any direct or indirect equity or other interest,
or any right (contingent or otherwise) to acquire the same, in any corporation, partnership, limited liability company, joint venture,
association or other entity.

 

4.4
Governmental Approvals. No Consent of or with any Governmental Authority, on the part of GameIQ is required to be obtained
or made in connection with the execution, delivery or performance by GameIQ of this Agreement or the consummation by GameIQ of the transactions
contemplated hereby, other than (a) such filings as contemplated by this Agreement, (b) applicable requirements, if any, of federal and
state securities Laws and regulations, and (C) where the failure to obtain or make such Consents or to make such filings or notifications,
would not reasonably be expected to have a Material Adverse Effect on GameIQ.

 

4.5
Non-Contravention. The execution and delivery by GameIQ of this Agreement, the consummation by GameIQ of the transactions
contemplated hereby, and compliance by GameIQ with any of the provisions hereof and thereof, will not (a) conflict with or violate any
provision of GameIQ’s Organizational Documents, (b) subject to obtaining the Consents from Governmental Authorities referred to
in Section 3.3 hereof, and any condition precedent to such Consent or waiver having been satisfied, conflict with or violate any
Law, Order or Consent applicable to GameIQ or any of its properties or assets, or (c) (i) violate, conflict with or result in a breach
of, (ii) constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) under, (iii) result
in the termination, withdrawal, suspension, cancellation or modification of, (iv) accelerate the performance required by GameIQ under,
(v) result in a right of termination or acceleration under, (vi) give rise to any obligation to make payments or provide compensation
under, (vii) result in the creation of any Lien upon any of the properties or assets of GameIQ under, (viii) give rise to any obligation
to obtain any third party Consent or provide any notice to any Person or (ix) give any Person the right to declare a default, exercise
any remedy, claim a rebate, chargeback, penalty or change in delivery schedule, accelerate the maturity or performance, cancel, terminate
or modify any right, benefit, obligation or other term under, any of the terms, conditions or provisions of, any Material Contract, except
for any deviations from any of the foregoing clauses (a), (b) or (c) that would not reasonably be expected to have a Material Adverse
Effect on GameIQ.

 

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4.6 Financial
Statements. As used herein, the term “GameIQ Unaudited Financials” means the (i) unaudited financial
statements of GameIQ (including, in each case, any related notes thereto), consisting of the balance sheets of GameIQ as of
September 30, 2021 and December 31, 2020, and the related unaudited income statements, changes in stockholder equity and statements
of cash flows for the periods then ended. True and correct copies of the GameIQ unaudited financials have been provided to RDE. The
GameIQ Financials (i) accurately reflect the books and records of GameIQ as of the times and for the periods referred to therein,
(ii) were prepared in accordance with GAAP, consistently applied throughout and among the periods involved (except that the GameIQ
Financials exclude the footnote disclosures and other presentation items required for GAAP and exclude year-end adjustments which
will not be material in amount), and (iii) fairly present in all material respects the financial position of GameIQ as of the
respective dates thereof and the results of the operations and cash flows of GameIQ for the periods indicated. GameIQ has never
been subject to the reporting requirements of Sections 13(a) and 15(d) of the Exchange Act.

 

4.7
Absence of Certain Changes. Since, January 1, 2022, GameIQ has (a) conducted its business only in the ordinary course of
business consistent with past practice, (b) not been subject to a Material Adverse Effect and (c) has not taken any action or committed
or agreed to take any action that would be prohibited by Section 5.2 if such action were taken on or after the date hereof without
the consent of RDE.

 

4.8
Compliance with Laws. GameIQ is not nor has been in material conflict or material non-compliance with, or in material default
or violation of, nor has GameIQ received, since January 1, 2019, any written or, to the Knowledge of GameIQ, oral notice of any material
conflict or non-compliance with, or material default or violation of, any applicable Laws by which it or any of its properties, assets,
employees, business or operations are or were bound or affected.

 

4.9
Litigation. There is no (a) Action of any nature pending or, to GameIQ’s Knowledge, threatened, nor to GameIQ’s
Knowledge is there any reasonable basis for any Action to be made (and no such Action has been brought or, to GameIQ’s Knowledge,
threatened); or (b) Order pending now or rendered by a Governmental Authority, in either case of (a) or (b) by or against GameIQ.

 

4.10
Material Contracts. GameIQ has not received notice of breach on any material contract.

 

4.11
Taxes and Returns. GameIQ has or will have timely filed, or caused to be timely filed, with the exception of the 2021 Tax
Return, all Tax Returns required to be filed by it for the tax years 2015 and later, which Tax Returns are true, accurate, correct and
complete in all material respects, and has paid, collected or withheld, or caused to be paid, collected or withheld, all material Taxes
required to be paid, collected or withheld, other than such Taxes for which adequate reserves in GameIQ Financials have been established
in accordance with GAAP. There are no audits, examinations, investigations or other proceedings pending against GameIQ in respect of
any Tax, and GameIQ has not been notified in writing of any proposed Tax claims or assessments against GameIQ (other than, in each case,
claims or assessments for which adequate reserves in the GameIQ Financials have been established in accordance with GAAP or are immaterial
in amount). There are no Liens with respect to any Taxes upon any of GameIQ’s assets, other than Permitted Liens. GameIQ has no
outstanding waivers or extensions of any applicable statute of limitations to assess any material amount of Taxes. There are no outstanding
requests by GameIQ for any extension of time within which to file any Tax Return or within which to pay any Taxes shown to be due on
any Tax Return.

 

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4.12
Title to and Sufficiency of Assets. GameIQ has good and marketable title to, or a valid leasehold interest in or right to use,
all of its assets, free and clear of all Liens other than (a) Permitted Liens, (b) the rights of lessors under leasehold interests, (c)
Liens specifically identified in the GameIQ Unaudited Financials and (d) Liens set forth on Schedule 4.12. The assets (including
Intellectual Property rights and contractual rights) of GameIQ constitute all of the assets, rights and properties that are used in the
operation of the businesses of GameIQ as it is now conducted and presently proposed to be conducted or that are used or held by GameIQ
for use in the operation of the businesses of GameIQ, and taken together, are adequate and sufficient for the operation of the businesses
of GameIQ as currently conducted and as presently proposed to be conducted.

 

4.13
Insurance. Except a provided in Schedule 4.13, during each of the past three fiscal years, GameIQ has been adequately insured
by financially sound and reputable insurers with respect to risks normally insured against and in amounts normally carried by companies
similarly situated. All such insurance policies are in full force and effect; all premiums due on such policies have been fully paid;
and no notice of cancellation or termination has been received with respect to any policy.

 

4.14
No Brokers. Except as set forth in Schedule 4.14, GameIQ has not incurred, nor will it incur, directly or indirectly, any
liability for brokerage or finders’ fees or agents’ commissions or charges or any similar charges in connection with this
Agreement or any transactions contemplated hereby.

 

4.15
Independent Investigation. GameIQ has conducted its own independent investigation, review and analysis of the business,
results of operations, prospects, condition (financial or otherwise) or assets of RDE and Merger Sub and acknowledges that it has been
provided adequate access to the personnel, properties, assets, premises, books and records, and other documents and data of RDE for such
purpose. GameIQ acknowledges and agrees that: (a) in making its decision to enter into this Agreement and to consummate the transactions
contemplated hereby, it has relied solely upon its own investigation and the express representations and warranties of RDE set forth
in Article IVII (including the related portions of the RDE Disclosure Schedule); and (b) none of RDE or Merge Sub nor their respective
Representatives have made any representation or warranty as to RDE, or this Agreement, except as expressly set forth in Article III
(including the related portions of RDE Disclosure Schedules).

 

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Article
V

COVENANTS

 

5.1
Access and Information. Each Party shall give, and shall direct its Representatives to give, the other Party and its Representatives,
at reasonable times during normal business hours and upon reasonable intervals and notice, access to all offices and other facilities
and to all employees, properties, Contracts, agreements, commitments, books and records, financial and operating data and other information
(including Tax Returns, internal working papers, client files, client Contracts and director service agreements), of or pertaining to
such Party or its Subsidiaries, as the other Party or its Representatives may reasonably request regarding such Party, its Subsidiaries
and their respective businesses, assets, Liabilities, financial condition, prospects, operations, management, employees and other aspects
(including unaudited quarterly financial statements, including a consolidated quarterly balance sheet and income statement, a copy of
each material report, schedule and other document filed with or received by a Governmental Authority pursuant to the requirements of
applicable securities Laws, and independent public accountants’ work papers (subject to the consent or any other conditions required
by such accountants, if any)) and to reasonably cooperate with the other Party and its Representatives in their investigation; provided,
however, that each Party and its Representatives shall conduct any such activities in such a manner as not to unreasonably interfere
with the business or operations of the other Party or any of its Subsidiaries.

 

5.2
Conduct of Business of GameIQ. Unless RDE shall otherwise consent in writing (such consent not to be unreasonably withheld, conditioned
or delayed), except as expressly contemplated by this Agreement, GameIQ shall, and shall cause its Subsidiaries to, (i) conduct their
respective businesses, in all material respects, in the ordinary course of business consistent with past practice, (ii) comply with all
Laws applicable to GameIQ and their respective businesses, assets and employees, and (iii) take all commercially reasonable measures
necessary or appropriate to preserve intact, in all material respects, their respective business organizations, to keep available the
services of their respective managers, directors, officers, employees and consultants, and to preserve the possession, control and condition
of their respective material assets, all as consistent with past practice.

 

5.3
Conduct of Business of RDE. Unless GameIQ shall otherwise consent in writing (such consent not to be unreasonably withheld, conditioned
or delayed), except as expressly contemplated by this Agreement RDE shall, and shall cause its Subsidiaries to, (i) conduct their respective
businesses, in all material respects, in the ordinary course of business consistent with past practice, (ii) comply with all Laws applicable
to RDE and its Subsidiaries and their respective businesses, assets and employees, and (iii) take all commercially reasonable measures
necessary or appropriate to preserve intact, in all material respects, their respective business organizations, to keep available the
services of their respective managers, directors, officers, employees and consultants, and to preserve the possession, control and condition
of their respective material assets, all as consistent with past practice.

 

5.4
[RESERVED.]

 

5.5
[RESERVED.]

 

5.6
RDE OTC Reports. RDE shall duly file with OTC Markets and deliver to GameIQ, as promptly as practicable and in any event within
[•] days after the date hereof, copies of all of its required OTC Reports in connection with the Merger, prepared in all material
respects in accordance with the requirements of the Exchange Act and the rules and regulations thereunder.

 

5.7
Notification of Certain Matters. Each of the Parties shall give prompt notice to the other Parties if such Party or its Affiliates:
(a) fails to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by it or its Affiliates hereunder
in any material respect; (b) receives any notice or other communication in writing from any third party (including any Governmental Authority)
alleging (i) that the Consent of such third party is or may be required in connection with the transactions contemplated by this Agreement
or (ii) any non-compliance with any Law by such Party or its Affiliates; (c) receives any notice or other communication from any Governmental
Authority in connection with the transactions contemplated by this Agreement; (d) discovers any fact or circumstance that, or becomes
aware of the occurrence or non-occurrence of any event the occurrence or non-occurrence of which, would reasonably be expected to cause
or result in any of the conditions to set forth in Article VII not being satisfied or the satisfaction of those conditions being
materially delayed; or (e) becomes aware of the commencement or threat, in writing, of any Action against such Party or any of its Affiliates,
or any of their respective properties or assets, or, to the Knowledge of such Party, any officer, director, partner, member or manager,
in his, her or its capacity as such, of such Party or of its Affiliates with respect to the consummation of the transactions contemplated
by this Agreement. No such notice shall constitute an acknowledgement or admission by the Party providing the notice regarding whether
or not any of the conditions to the Closing have been satisfied or in determining whether or not any of the representations, warranties
or covenants contained in this Agreement have been breached.

 

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5.8
Tax Matters. Each of the Parties shall use its reasonable best efforts to cause the Merger to qualify as a “reorganization”
within the meaning of Section 368(a) of the Code. None of the Parties shall (and each of the Parties shall cause their respective Subsidiaries
not to) take any action, or fail to take any action, that could reasonably be expected to cause the Merger to fail to qualify as a “reorganization”
within the meaning of Section 368(a) of the Code. The Parties intend to report and, except to the extent otherwise required by Law, shall
report, for federal income tax purposes, the Merger as a “reorganization” within the meaning of Section 368(a) of the Code.

 

5.9
Further Assurances. The Parties hereto shall further cooperate with each other and use their respective commercially reasonable
efforts to take or cause to be taken all actions, and do or cause to be done all things, necessary, proper or advisable on their part
under this Agreement and applicable Laws to obtain approval of the GameIQ Stockholders of the Merger and to consummate the transactions
contemplated by this Agreement as soon as reasonably practicable, including preparing and filing as soon as practicable all documentation
to effect all necessary notices, reports and other filings.

 

5.10
Confidential Information. The Parties hereby agree that in the event this Agreement is terminated in accordance with its terms,
for a period of two (2) years after such termination, they shall, and shall cause their Representatives to: (i) treat and hold in strict
confidence any Confidential Information, and will not use for any purpose (except in connection with the consummation of the transactions
contemplated by this Agreement, performing their obligations hereunder, enforcing their rights hereunder or thereunder), nor directly
or indirectly disclose, distribute, publish, disseminate or otherwise make available to any third party any of the Confidential Information
without the other Party’s prior written consent; and (ii) in the event that the either Party or its Affiliates or Representatives,
in the event this Agreement is terminated in accordance with its terms, for a period of two (2) years after such termination, becomes
legally compelled to disclose any Confidential Information, (A) provide the other Party with prompt written notice of such requirement
so that that Party or an Affiliate thereof may seek a protective Order or other remedy or waive compliance with this Section 5.10,
and (B) in the event that such protective Order or other remedy is not obtained, or the relevant Party waives compliance with this Section
5.10, furnish only that portion of such Confidential Information which is legally required to be provided as advised in writing by
counsel. In the event that this Agreement is terminated and the transactions contemplated hereby are not consummated, the Parties shall,
and shall cause their Affiliates and Representatives to, promptly deliver to the other Party any and all copies (in whatever form or
medium) of Confidential Information and destroy all notes, memoranda, summaries, analyses, compilations and other writings related thereto
or based thereon.

 

5.11
Post-Closing Board of Directors and Executive Officers.

 

(a)
The Parties shall take all necessary action, including causing the directors and officers of GameIQ to resign and appointing directors
of RDE so that, effective as of the Closing, GameIQ’s board of directors after the Closing (the “Post-Closing RDE Board”)
will consist of the directors of RDE.

 

(b)
The Parties shall take all action necessary, including causing the executive officers of GameIQ to resign and appointing officers of
RDE, so that the individual serving as the President and Chief Executive Officer of RDE immediately after the Closing will be the same
individual (in the same office) as that of RDE immediately prior to the Closing.

 

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Article
VI

SURVIVAL

 

6.1
Survival. The representations and warranties of each of the Parties contained in this Agreement or in any certificate or instrument
delivered by or on behalf of such Parties pursuant to this Agreement shall not survive the Closing, and from and after the Closing, neither
Party shall have any further obligations, nor shall any claim be asserted or action be brought against any other Party. The covenants
and agreements made by each Party in this Agreement or in any certificate or instrument delivered pursuant to this Agreement, including
any rights arising out of any breach of such covenants or agreements, shall not survive the Closing, except for those covenants and agreements
contained herein and therein that by their terms apply or are to be performed in whole or in part after the Closing or by their express
terms survive Closing (which such covenants shall survive the Closing and continue until fully performed in accordance with their terms).

 

Article
VII

CLOSING CONDITIONS

 

7.1
Conditions to Obligations of GameIQ. The obligations of GameIQ to consummate the Merger and the other transactions contemplated
by this Agreement are subject to the satisfaction or written waiver (by GameIQ) of the following conditions:

 

(a)
Representations and Warranties. All of the representations and warranties of RDE set forth in this Agreement and in any certificate
delivered by RDE pursuant hereto shall be true and correct on and as of the date of this Agreement and on and as of the Closing Date
as if made on the Closing Date, except for (i) those representations and warranties that address matters only as of a particular date
(which representations and warranties shall have been accurate as of such date), and (ii) any failures to be true and correct that (without
giving effect to any qualifications or limitations as to materiality or Material Adverse Effect), individually or in the aggregate, have
not had and would not reasonably be expected to have a Material Adverse Effect on, or with respect to, RDE.

 

(b)
Agreements and Covenants. RDE shall have performed in all material respects all of RDE’s obligations and complied in all
material respects with all of RDE’s agreements and covenants under this Agreement to be performed or complied with by it on or
prior to the Closing Date.

 

(c)
No Material Adverse Effect. No Material Adverse Effect shall have occurred with respect to RDE since the date of this Agreement
which is continuing and uncured.

 

(d)
Diligence. GameIQ shall have completed its due diligence investigation of RDE, including the financial and legal documents, materials,
properties, books and records of RDE, and shall be reasonably satisfied, in its reasonable discretion, with the results thereof.

 

(e)
Required Purchaser Shareholder Approval. The resolutions of the GameIQ Stockholders authorizing the execution, delivery and performance
of this Agreement, and the consummation of the transactions contemplated hereby and thereby.

 

(f)
Requisite Regulatory Approvals. All Consents required to be obtained from or made with any Governmental Authority in order to
consummate the transactions contemplated by this Agreement shall have been obtained or made.

 

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(g)
Requisite Regulatory Approvals. All Consents required to be obtained from or made with any Governmental Authority in order to
consummate the transactions contemplated by this Agreement shall have been obtained or made.

 

(h)
No Litigation. There shall not be any pending Action brought by a third-party non-Affiliate to enjoin or otherwise restrict the
consummation of the Closing.

 

(i)
Closing Deliveries.

 

(i)
Officer Certificate. RDE shall have delivered to GameIQ a certificate, dated the Closing Date, signed by an executive officer of RDE
in such capacity only, certifying as to the satisfaction of the conditions specified in Sections 7.1(a), 7.1(b) and 7.1(c)
and further certifying as to, and attaching, (A) copies of RDE’s Organizational Documents as in effect as of the Closing Date
and (B) the resolutions of RDE’s board of directors authorizing the execution, delivery and performance of this Agreement, and
the consummation of the transactions contemplated hereby and thereby.

 

(ii)
Good Standing. RDE shall have delivered to GameIQ a good standing certificate (or similar documents applicable for such jurisdictions)
for RDE certified as of a date no later than sixty (60) days prior to the Closing Date from the proper Governmental Authority of RDE’s
jurisdiction of organization and from each other jurisdiction in which RDE is qualified to do business as a foreign entity as of the
Closing, in each case to the extent that good standing certificates or similar documents are generally available in such jurisdictions.

 

(iii)
Employment Agreement. GameIQ shall have received a copy of the Employment Agreement for Balazs Wellisch, duly executed by RDE.

 

7.2
 Conditions to Obligations of RDE. The obligations of RDE to consummate the Contribution and the other transactions contemplated
by this Agreement are subject to the satisfaction or written waiver (by GameIQ) of the following conditions:

 

(a)
Representations and Warranties. All of the representations and warranties of GameIQ set forth in this Agreement and in any certificate
delivered by GameIQ, shall be true and correct on and as of the date of this Agreement and on and as of the Closing Date as if made on
the Closing Date, except for (i) those representations and warranties that address matters only as of a particular date (which representations
and warranties shall have been accurate as of such date), and (ii) any failures to be true and correct that (without giving effect to
any qualifications or limitations as to materiality or Material Adverse Effect), individually or in the aggregate, have not had and would
not reasonably be expected to have a Material Adverse Effect on, or with respect to, GameIQ.

 

(b)
Agreements and Covenants. GameIQ shall have performed in all material respects all of its obligations and complied in all material
respects with all of its agreements and covenants under this Agreement to be performed or complied with by it on or prior to the Closing
Date.

 

(c)
No Material Adverse Effect. No Material Adverse Effect shall have occurred with respect to GameIQ since the date of this Agreement
which is continuing and uncured.

 

(d)
Diligence. RDE shall have completed its due diligence investigation of GameIQ, including the financial and legal documents, materials,
properties, books and records of GameIQ, and shall be reasonably satisfied, in its reasonable discretion, with the results thereof.

 

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(e)
Required Purchaser Shareholder Approval. The resolutions of the GameIQ Stockholders authorizing the execution, delivery and performance
of this Agreement, and the consummation of the transactions contemplated hereby and thereby.

 

(f)
Requisite Regulatory Approvals. All Consents required to be obtained from or made with any Governmental Authority in order to
consummate the transactions contemplated by this Agreement shall have been obtained or made.

 

(g)
No Litigation. There shall not be any pending Action brought by a third-party non-Affiliate to enjoin or otherwise restrict the
consummation of the Closing.

 

(h)
Expenses. The cash assets of GameIQ shall be sufficient to pay in full all of GameIQ’s Expenses at or before Closing.

 

(i)
Closing Deliveries.

 

(i)
Officer Certificate. RDE shall have received a certificate from GameIQ, dated as the Closing Date, signed by an executive officer of
GameIQ in such capacity, certifying as to the satisfaction of the conditions specified in Sections 7.2(a), 7.2(b) and 7.2(c)

 

(ii)
Secretary Certificate. GameIQ shall have delivered to RDE a certificate executed by GameIQ’s secretary certifying as to the validity
and effectiveness of, and attaching, (A) copies of GameIQ’s Organizational Documents as in effect as of the Closing Date (immediately
prior to the Closing), and (B) the incumbency of officers of GameIQ authorized to execute this Agreement.

 

(iii)
Elections. GameIQ shall have obtained and delivered to RDE at or prior to the Closing the
resignation of its directors (subject to requirements of Schedule 14-f) and each officer of GameIQ.

 

(iv)
Employment Agreement. The Employment Agreement with Balazs Wellisch shall be in full force and effect in accordance with the terms thereof.

 

(v)
Promissory Notes. The Notes shall have been delivered to Balazs Wellisch and Quentin Blackford as required by Section 1.10.

 

7.3
Frustration of Conditions. Notwithstanding anything contained herein to the contrary, no Party may rely on the failure of any
condition set forth in this Article VII to be satisfied if such failure was caused by the acts or omissions of such Party or its
Affiliates to comply with or perform any of its covenants or obligations set forth in this Agreement.

 

ARTICLE
VIII

TERMINATION
AND EXPENSES

 

8.1
Termination. This Agreement may be terminated and the transactions contemplated hereby may be abandoned at any time prior
to the Closing as follows:

 

(a)
by mutual written consent of RDE and GameIQ;

 

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(b)
by written notice by RDE or GameIQ if any of the conditions to the Closing set forth in Article VII have not been satisfied or waived
by March 31, 2022 (the “Outside Date”); provided, however, the right to terminate this Agreement under this
Section 8.1(b) shall not be available to a Party if the breach or violation by such Party or its Affiliates of any representation,
warranty, covenant or obligation under this Agreement was the cause of, or resulted in, the failure of the Closing to occur on or before
the Outside Date;

 

(c)
by written notice by either RDE or GameIQ if a Governmental Authority of competent jurisdiction shall have issued an Order or taken any
other action permanently restraining, enjoining or otherwise prohibiting the transactions contemplated by this Agreement, and such Order
or other action has become final and non-appealable; provided, however, that the right to terminate this Agreement pursuant to this Section
8.1(c) shall not be available to a Party if the failure by such Party or its Affiliates to comply with any provision of this Agreement
has been a substantial cause of, or substantially resulted in, such action by such Governmental Authority;

 

(d)
by written notice by GameIQ, if (i) there has been a material breach by RDE of any of its representations, warranties, covenants or agreements
contained in this Agreement, or if any representation or warranty of RDE shall have become materially untrue or materially inaccurate,
in any case, which would result in a failure of a condition set forth in Section 7.1(a) or Section 7.1(b) to be satisfied
(treating the Closing Date for such purposes as the date of this Agreement or, if later, the date of such breach), and (ii) the breach
or inaccuracy is incapable of being cured or is not cured within the earlier of (A) twenty (20) days after written notice of such breach
or inaccuracy is provided by GameIQ or (B) the Outside Date;

 

(e)
by written notice by RDE, if (i) there has been a breach by GameIQ of any of its representations, warranties, covenants or agreements
contained in this Agreement, or if any representation or warranty of GameIQ shall have become untrue or inaccurate, in any case, which
would result in a failure of a condition set forth in Section 7.2(a) or Section 7.2(b) to be satisfied (treating the Closing
Date for such purposes as the date of this Agreement or, if later, the date of such breach), and (ii) the breach or inaccuracy is incapable
of being cured or is not cured within the earlier of (A) twenty (20) days after written notice of such breach or inaccuracy is provided
by RDE or (B) the Outside Date; or

 

(f)
by written notice by RDE, if there shall have been a Material Adverse Effect on GameIQ following the date of this Agreement which is
uncured and continuing; or

 

(g)
by written notice by GameIQ if there shall have been a Material Adverse Effect on RDE following the date of this Agreement which is uncured
and continuing.

 

8.2
 Effect of Termination. This Agreement may only be terminated in the circumstances described in Section 8.1 and pursuant
to a written notice delivered by the applicable Party to the other applicable Parties, which sets forth the basis for such termination,
including the provision of Section 8.1 under which such termination is made. In the event of the valid termination of this Agreement
pursuant to Section 8.1, (i) this Agreement shall forthwith become void, and (ii) there shall be no Liability on the part of any
Party or any of their respective Representatives, and all rights and obligations of each Party shall cease.

 

8.3
Fees and Expenses. Except as provided otherwise in this Agreement, including in Section 8.2 above, all Expenses incurred
in connection with this Agreement and the transactions contemplated hereby shall be paid by the Party incurring such expenses; provided,
that the cash assets of GameIQ shall be applied to pay GameIQ’s Expenses at or before Closing. As used in this Agreement, “Expenses”
shall include all out-of-pocket expenses (including all fees and expenses of counsel, accountants, investment bankers, financial advisors,
financing sources, experts and consultants to a Party hereto or any of its Affiliates) incurred by a Party or on its behalf in connection
with or related to the authorization, preparation, negotiation, execution or performance of this Agreement and all other matters related
to the consummation of this Agreement.

 

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ARTICLE
IX

MISCELLANEOUS

 

9.1
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been
duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii)
one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) five (5) Business Days
after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable Party
at the following addresses (or at such other address for a Party as shall be specified by like notice):

 

	If
    to RDE, to	 	RDE,
                                            Inc.

                                            Lakeside Corporate Court

    Suite
    100

    5880
    Live Oak Parkway

    Norcross,
    Georgia 30093

    Attn:
    Ketan Thakker, President and CEO

    Telephone
    No.: (773) 272-5000

    Email:
    kthakker@restaurant.com

     

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

     

    Culhane
    Meadows PLLC

    1701
    Pennsylvania Avenue, N.W.,

    Suite
    200

    Washington,
    D.C. 20006

    Attn:
    Ernest M. Stern, Esq.

    Telephone
    No: (301) 910-2030

     

    

	If
    to GameIQ, to	 	GameIQ,
                                            Inc.

    2173
    Salk Ave.

    Suite
    250

    Carlsbad,
    CA 92008

    Attn:
    Balazs Wellisch, President

    Telephone No.: (619) 363 4030

    Email:
    balazs@gameiq.net

     

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

     

    Law
    Offices of Gretchen Cowen, APC

    4275 Executive Square

    Suite
    200

    La Jolla, CA 92037

    Attn: Gretchen Cowen, Esq.

    Telephone
    No: (760) 931-0903

    Email:
    gretchen@gcowenlaw.com

     

 

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9.2
Binding Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of
the Parties hereto and their respective successors and permitted assigns. This Agreement shall not be assigned whether by operation of
Law or otherwise without the prior written consent of RDE and GameIQ (and after the Closing, the GameIQ Representative and the RDE Representative),
and any assignment without such consent shall be null and void; provided that no such permitted assignment shall relieve the assigning
Party of its obligations hereunder.

 

9.3
Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the
transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any Person that is
not a Party hereto or thereto or a successor or permitted assign of such a Party.

 

9.4
Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the Laws of the State
of Delaware without regard to the conflict of laws principles thereof. All Actions arising out of or relating to this Agreement shall
be heard and determined exclusively in any state or federal court located in Fulton County, Georgia (or in any appellate court thereof)
(the “Specified Courts”). Each Party hereto hereby (a) submits to the exclusive jurisdiction of any Specified
Court for the purpose of any Action arising out of or relating to this Agreement brought by any Party hereto and (b) irrevocably waives,
and agrees not to assert by way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the
jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is brought
in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may
not be enforced in or by any Specified Court. Each Party agrees that a final judgment in any Action shall be conclusive and may be enforced
in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each Party irrevocably consents to the service
of the summons and complaint and any other process in any other Action relating to the transactions contemplated by this Agreement, on
behalf of itself, or its property, by personal delivery of copies of such process to such Party at the applicable address set forth in
Section 9.1. Nothing in this Section 9.4 shall affect the right of any Party to serve legal process in any other manner
permitted by Law.

 

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9.5
WAIVER OF JURY TRIAL. EACH OF THE PARTIES
HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.5.

 

9.6
Specific Performance. Each Party acknowledges that the rights of each Party to consummate the transactions contemplated hereby
are unique, recognizes and affirms that in the event of a breach of this Agreement by any Party, money damages may be inadequate and
the non-breaching Party may have not adequate remedy at law, and agree that irreparable damage would occur in the event that any of the
provisions of this Agreement were not performed by an applicable Party in accordance with their specific terms or were otherwise breached.
Accordingly, each Party shall be entitled to seek an injunction or restraining order to prevent breaches of this Agreement and to seek
to enforce specifically the terms and provisions hereof, without the requirement to post any bond or other security or to prove that
money damages would be inadequate, this being in addition to any other right or remedy to which such Party may be entitled under this
Agreement, at law or in equity.

 

9.7
Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such
provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal
and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or
impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction.
Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties will substitute
for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal
and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

9.8
Amendment. This Agreement may be amended, supplemented or modified only by execution of a written instrument signed by RDE or
GameIQ.

 

9.9
Waiver. RDE on behalf of itself and its Affiliates, or GameIQ on behalf of itself and its Affiliates, may in its sole discretion
(i) extend the time for the performance of any obligation or other act of any other non-Affiliated Party hereto, (ii) waive any inaccuracy
in the representations and warranties by such other non-Affiliated Party contained herein or in any document delivered pursuant hereto
and (iii) waive compliance by such other non-Affiliated Party with any covenant or condition contained herein. Any such extension or
waiver shall be valid only if set forth in an instrument in writing signed by the Party or Parties to be bound thereby. Notwithstanding
the foregoing, no failure or delay by a Party in exercising any right hereunder shall operate as a waiver thereof nor shall any single
or partial exercise thereof preclude any other or further exercise of any other right hereunder.

 

9.10
Entire Agreement. This Agreement and the documents or instruments referred to herein, including any exhibits and schedules attached
hereto, which exhibits and schedules are incorporated herein by reference, embody the entire agreement and understanding of the Parties
hereto in respect of the subject matter contained herein. There are no restrictions, promises, representations, warranties, covenants
or undertakings, other than those expressly set forth or referred to herein or the documents or instruments referred to herein, which
collectively supersede all prior agreements and the understandings among the Parties with respect to the subject matter contained herein.

 

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22 of 34

 

9.11
Counterparts. This Agreement may be executed and delivered (including by facsimile or other electronic transmission) in one or
more counterparts, and by the different Parties hereto in separate counterparts, each of which when executed shall be deemed to be an
original but all of which taken together shall constitute one and the same agreement.

 

ARTICLE
X

DEFINITIONS

 

10.1
Certain Definitions. For purpose of this Agreement, the following capitalized terms have the following meanings:

 

“Acquisition
Proposal” has the meaning ascribed to such term in Section 5.7(a) hereof.

 

“Action”
means any notice of noncompliance or violation, or any claim, demand, charge, action, suit, litigation, audit, settlement, complaint,
stipulation, assessment or arbitration, or any request (including any request for information), inquiry, hearing, proceeding or investigation,
by or before any Governmental Authority.

 

“Affiliate”
means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with such
Person.

 

“Agreement”
has the meaning set forth in the Preamble hereto.

 

“Alternative
Transaction” has the meaning ascribed to such term in Section 5.7(a) hereof.

 

“Benefit
Plans” of any Person means any and all deferred compensation, executive compensation, incentive compensation, equity purchase
or other equity-based compensation plan, employment or consulting, severance or termination pay, holiday, vacation or other bonus plan
or practice, hospitalization or other medical, life or other insurance, supplemental unemployment benefits, profit sharing, pension,
or retirement plan, program, agreement, commitment or arrangement, and each other employee benefit plan, program, agreement or arrangement,
including each “employee benefit plan” as such term is defined under Section 3(3) of ERISA, maintained or contributed to
or required to be contributed to by a Person for the benefit of any employee or terminated employee of such Person, or with respect to
which such Person has any Liability, whether direct or indirect, actual or contingent, whether formal or informal, and whether legally
binding or not.

 

“Business
Day” means any day other than a Saturday, Sunday or a legal holiday on which commercial banking institutions in New York,
New York are authorized to close for business, excluding as a result of “stay at home”, “shelter-in-place”, “non-essential
employee” or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental
authority so long as the electronic funds transfer systems, including for wire transfers, of commercially banking institutions in New
York, New York are generally open for use by customers on such day.

 

“Cash
Consideration” has the meaning ascribed to such term in Section 1.9 hereof.

 

“Certificate
of Merger” has the meaning ascribed to such term in Section 1.2 hereof.

 

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23 of 34

 

“Claim”
has the meaning ascribed to such term in Section 5.13(b) hereof.

 

“Closing”
has the meaning ascribed to such term in Section 2.1 hereof.

 

“Closing
Date” has the meaning ascribed to such term in Section 2.1 hereof.

 

“Code”
means the Internal Revenue Code of 1986, as amended, and any successor statute thereto, as amended. Reference to a specific section of
the Code shall include such section and any valid treasury regulation promulgated thereunder.

 

“Confidential
Information” means all confidential or proprietary documents and information concerning the either Party or any of its
Representatives; provided, however, that the Confidential Information shall not include any information which, (i) at the
time of disclosure by GameIQ or its respective Representatives, is generally available publicly and was not disclosed in breach of this
Agreement or (ii) at the time of the disclosure by RDE or its Representatives to GameIQ or its Representatives, was previously known
by such receiving party without violation of Law or any confidentiality obligation by the Person receiving such Confidential Information.

 

“Consent”
means any consent, approval, waiver, authorization or Permit of, or notice to or declaration or filing with any Governmental Authority
or any other Person.

 

“Contracts”
means all contracts, agreements, binding arrangements, bonds, notes, indentures, mortgages, debt instruments, purchase order, licenses
(and all other contracts, agreements or binding arrangements concerning Intellectual Property), franchises, leases and other instruments
or obligations of any kind, written or oral (including any amendments and other modifications thereto).

 

“Control”
of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies
of such Person, whether through the ownership of voting securities, by contract, or otherwise. “Controlled”, “Controlling”
and “under common Control with” have correlative meanings. Without limiting the foregoing a Person (the “Controlled
Person”) shall be deemed Controlled by (a) any other Person (the “10% Owner”) (i) owning beneficially,
as meant in Rule 13d-3 under the Exchange Act, securities entitling such Person to cast ten percent (10%) or more of the votes for election
of directors or equivalent governing authority of the Controlled Person or (ii) entitled to be allocated or receive ten percent (10%)
or more of the profits, losses, or distributions of the Controlled Person; (b) an officer, director, general partner, partner (other
than a limited partner), manager, or member (other than a member having no management authority that is not a 10% Owner) of the Controlled
Person; or (c) a spouse, parent, lineal descendant, sibling, aunt, uncle, niece, nephew, mother-in-law, father-in-law, sister-in-law,
or brother-in-law of an Affiliate of the Controlled Person or a trust for the benefit of an Affiliate of the Controlled Person or of
which an Affiliate of the Controlled Person is a trustee.

 

“D&O
Indemnified Persons” has the meaning ascribed to such term in Section 5.13(a) hereof.

 

“DGCL”
means the Delaware General Corporation Law.

 

“Effective
Time” has the meaning ascribed to such term in Section 1.2 hereof.

 

“Enforceability
Exceptions” has the meaning ascribed to such term in Section 3.2 hereof.

 

    	23

    	 

    

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24 of 34

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Expenses”
has the meaning ascribed to such term in Section 8.3 hereof.

 

“FINRA”
means the Financial Industry Regulatory Authority, Inc.

 

“Fraud
Claim” means any claim based in whole or in part upon common law fraud as set in the elements of fraud under applicable
Law.

 

“GAAP”
means generally accepted accounting principles as in effect in the United States of America.

 

“GameIQ”
has the meaning set forth in the Preamble hereto.

 

“GameIQ
Common Stock” means the common stock, no par value per share, of GameIQ.

 

“GameIQ
Convertible Securities” means, collectively, the GameIQ Options and any other options, warrants or rights to subscribe
for or purchase any capital stock of GameIQ or securities convertible into or exchangeable for, or that otherwise confer on the holder
any right to acquire any capital stock of GameIQ.

 

“GameIQ
Options” means an option to purchase GameIQ Stock.

 

“GameIQ
Preferred Stock” means the preferred stock, no par value per share, of GameIQ.

 

“GameIQ
Securities” means, collectively, the GameIQ Stock or securities convertible into GameIQ Stock.

 

“GameIQ
Stock” means any shares of the GameIQ Common Stock and the GameIQ Preferred Stock.

 

“GameIQ
Stockholders” means, collectively, the holders of GameIQ Stock.

 

“GameIQ
Unaudited Financials” has the meaning ascribed to such term in Section 4.6 hereof.

 

“Governmental
Authority” means any federal, state, local, foreign or other governmental, quasi-governmental or administrative body, instrumentality,
department or agency or any court, tribunal, administrative hearing body, arbitration panel, commission, or other similar dispute-resolving
panel or body.

 

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25 of 34

 

“Indebtedness”
of any Person means, without duplication, (a) all indebtedness of such Person for borrowed money (including the outstanding principal
and accrued but unpaid interest), (b) obligations for the deferred purchase price of property or services (other than trade payables
incurred in the ordinary course of business), (c) any other indebtedness of such Person that is evidenced by a note, bond, debenture,
credit agreement or similar instrument, (d) all obligations of such Person under leases that should be classified as capital leases in
accordance with GAAP, (e) all obligations of such Person for the reimbursement of any obligor on any line or letter of credit, banker’s
acceptance, guarantee or similar credit transaction, in each case, that has been drawn or claimed against, (f) all obligations of such
Person in respect of acceptances issued or created, (g) all interest rate and currency swaps, caps, collars and similar agreements or
hedging devices under which payments are obligated to be made by such Person, whether periodically or upon the happening of a contingency,
(h) all obligations secured by an Lien on any property of such Person, (i) any premiums, prepayment fees or other penalties, fees, costs
or expenses associated with payment of any Indebtedness of such Person and (j) all obligation described in clauses (a) through (i) above
of any other Person which is directly or indirectly guaranteed by such Person or which such Person has agreed (contingently or otherwise)
to purchase or otherwise acquire or in respect of which it has otherwise assured a creditor against loss.

 

“Intellectual
Property” means all of the following as they exist in any jurisdiction throughout the world: patents, trademarks, copyrights,
trade secrets, internet assets, software and other intellectual property, and all licenses, sublicenses and other agreements or permissions
related to the preceding property.

 

“IRS”
means the U.S. Internal Revenue Service (or any successor Governmental Authority).

 

“Knowledge”
means, with respect to any Party, the actual knowledge of the executive officers or directors of such Party, after due inquiry.

 

“Law”
means any federal, state, local, municipal, foreign or other law, statute, legislation, principle of common law, ordinance, code, edict,
decree, proclamation, treaty, convention, rule, regulation, directive, requirement, writ, injunction, settlement, Order or Consent that
is or has been issued, enacted, adopted, passed, approved, promulgated, made, implemented or otherwise put into effect by or under the
authority of any Governmental Authority.

 

“Liabilities”
means any and all liabilities, Indebtedness, Actions or obligations of any nature (whether absolute, accrued, contingent or otherwise,
whether known or unknown, whether direct or indirect, whether matured or unmatured and whether due or to become due), including Tax liabilities
due or to become due.

 

“Lien”
means any mortgage, pledge, security interest, attachment, right of first refusal, , proxy, voting trust, encumbrance, lien or charge
of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof), restriction (whether
on voting, sale, transfer, disposition or otherwise), any subordination arrangement in favor of another Person, any filing or agreement
to file a financing statement as debtor under the Uniform Commercial Code or any similar Law.

 

    	25

    	 

    

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“Material
Adverse Effect” means, with respect to any specified Person, any fact, event, occurrence, change or effect that has had,
or would reasonably be expected to have, individually or in the aggregate, a material adverse effect upon (a) the business, assets, Liabilities,
results of operations, prospects or condition (financial or otherwise) of such Person and its Subsidiaries, taken as a whole, or (b)
the ability of such Person or any of its Subsidiaries on a timely basis to consummate the transactions contemplated by this Agreement
or to perform its obligations hereunder; provided, however, that for purposes of clause (a) above, any changes or effects
directly or indirectly attributable to, resulting from, relating to or arising out of the following (by themselves or when aggregated
with any other, changes or effects) shall not be deemed to be, constitute, or be taken into account when determining whether there has
or may, would or could have occurred a Material Adverse Effect: (i) general changes in the financial or securities markets or general
economic or political conditions in the country or region in which such Person or any of its Subsidiaries do business; (ii) changes,
conditions or effects that generally affect the industries in which such Person or any of its Subsidiaries principally operate; (iii)
changes in GAAP or other applicable accounting principles or mandatory changes in the regulatory accounting requirements applicable to
any industry in which such Person and its Subsidiaries principally operate; (iv) conditions caused by acts of God, terrorism, war (whether
or not declared), pandemic or natural disaster; and (v) any failure in and of itself by such Person and its Subsidiaries to meet any
internal or published budgets, projections, forecasts or predictions of financial performance for any period (provided that the underlying
cause of any such failure may be considered in determining whether a Material Adverse Effect has occurred or would reasonably be expected
to occur to the extent not excluded by another exception herein); provided further, however, that any event, occurrence,
fact, condition, or change referred to in clauses (i) - (iv) immediately above shall be taken into account in determining whether a Material
Adverse Effect has occurred or could reasonably be expected to occur to the extent that such event, occurrence, fact, condition, or change
has a disproportionate effect on such Person or any of its Subsidiaries compared to other participants in the industries in which such
Person or any of its Subsidiaries primarily conducts its businesses.

 

“Merger”
has the meaning set forth in the Recitals hereto.

 

“Merger
Consideration” has the meaning ascribed to such term in Section 1.7 hereof.

 

“Merger
Sub” has the meaning set forth in the Preamble hereto.

 

“Merger
Sub Common Stock” means the common stock, par value $.001 per share, of Merger Sub.

 

Notes”
has the meaning ascribed to such term in Section 1.10 hereof.

 

“Order”
means any order, decree, ruling, judgment, injunction, writ, determination, binding decision, verdict, judicial award or other action
that is or has been made, entered, rendered, or otherwise put into effect by or under the authority of any Governmental Authority.

 

“Organizational
Documents” means, with respect to any Person that is not a natural person, the articles of incorporation, certificate of
incorporation, charter, bylaws, articles of formation, certificate of formation, regulations, operating agreement, partnership agreement,
certificate of limited partnership, trust agreement or other similar documents, instruments or certificates executed, adopted or filed
in connection with the creation, formation or organization of such Person, including any amendments thereto or restatements thereof.

 

“OTC
Reports” has the meaning ascribed to such term in Section 3.7(a) hereof.

 

“Outside
Date” has the meaning ascribed to such term in Section 8.1(b) hereof.

 

“Party”
and “Parties” have the meanings set forth in the Preamble hereto.

 

“Permits”
means all federal, state, local or foreign or other third-party permits, grants, easements, consents, approvals, authorizations, exemptions,
licenses, franchises, concessions, ratifications, permissions, clearances, confirmations, endorsements, waivers, certifications, designations,
ratings, registrations, qualifications or orders of any Governmental Authority or any other Person.

 

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“Permitted
Liens” means (a) Liens for Taxes or assessments and similar governmental charges or levies, which either are (i) not delinquent
or (ii) being contested in good faith and by appropriate proceedings, and adequate reserves have been established with respect thereto,
(b) other Liens imposed by operation of Law arising in the ordinary course of business for amounts which are not due and payable and
as would not in the aggregate materially adversely affect the value of, or materially adversely interfere with the use of, the property
subject thereto, (c) Liens incurred or deposits made in the ordinary course of business in connection with social security, (d) Liens
on goods in transit incurred pursuant to documentary letters of credit, in each case arising in the ordinary course of business, or (v)
Liens arising under this Agreement.

 

“Person”
means an individual, corporation, partnership (including a general partnership, limited partnership or limited liability partnership),
limited liability company, association, trust or other entity or organization, including a government, domestic or foreign, or political
subdivision thereof, or an agency or instrumentality thereof.

 

“Personal
Property” means any machinery, equipment, tools, vehicles, furniture, leasehold improvements, office equipment, plant,
parts and other tangible personal property.

 

“Pro
Rata Share” means with respect to each GameIQ Stockholder, a fraction expressed by a percentage equal to (i) the portion
of the Merger Consideration payable by RDE to such GameIQ Stockholder in accordance with the terms of this Agreement, divided by (ii)
the total Merger Consideration payable by RDE to all GameIQ Stockholders in accordance with the terms of this Agreement.

 

“RDE”
has the meaning set forth in the Preamble hereto.

 

“RDE
Common Stock” means the shares of common stock, par value $0.001 per share, of RDE.

 

“RDE
Financials” has the meaning ascribed to such term in Section 3.7(b) hereof.

 

“RDE
Material Contract” has the meaning ascribed to such term in Section 3.13 hereof.

 

“RDE
Preferred Stock” means the shares of preferred stock, par value [·] per share, of RDE.

 

“RDE
Stock” means any shares of RDE Common Stock and RDE Preferred Stock.

 

“Representatives”
means, as to any Person, such Person’s Affiliates and the respective managers, directors, officers, employees, independent contractors,
consultants, advisors (including financial advisors, counsel and accountants), agents and other legal representatives of such Person
or its Affiliates.

 

“SEC”
means the Securities and Exchange Commission (or any successor Governmental Authority).

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Specified
Courts” has the meaning ascribed to such term in Section 9.4 hereof.

 

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“Subsidiary”
means, with respect to any Person, any corporation, partnership, association or other business entity of which (i) if a corporation,
a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the
election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one
or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a partnership, association or other business entity,
a majority of the partnership or other similar ownership interests thereof is at the time owned or controlled, directly or indirectly,
by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons will be deemed
to have a majority ownership interest in a partnership, association or other business entity if such Person or Persons will be allocated
a majority of partnership, association or other business entity gains or losses or will be or control the managing director, managing
member, general partner or other managing Person of such partnership, association or other business entity. A Subsidiary of a Person
will also include any variable interest entity which is consolidated with such Person under applicable accounting rules.

 

“Surviving
Corporation” has the meaning ascribed to such term in Section 1.1 hereof.

 

“Tax
Return” means any return, declaration, report, claim for refund, information return or other documents (including any related
or supporting schedules, statements or information) filed or required to be filed in connection with the determination, assessment or
collection of any Taxes or the administration of any Laws or administrative requirements relating to any Taxes.

 

“Taxes”
means (a) all direct or indirect federal, state, local, foreign and other net income, gross income, gross receipts, sales, use, value-added,
ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding, payroll, employment, social security and
related contributions due in relation to the payment of compensation to employees, excise, severance, stamp, occupation, premium, property,
windfall profits, alternative minimum, estimated, customs, duties or other taxes, fees, assessments or charges of any kind whatsoever,
together with any interest and any penalties, additions to tax or additional amounts with respect thereto, (b) any Liability for payment
of amounts described in clause (a) whether as a result of being a member of an affiliated, consolidated, combined or unitary group for
any period or otherwise through operation of law and (c) any Liability for the payment of amounts described in clauses (a) or (b) as
a result of any tax sharing, tax group, tax indemnity or tax allocation agreement with, or any other express or implied agreement to
indemnify, any other Person.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGE FOLLOWS]

 

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IN
WITNESS WHEREOF, each Party hereto has caused this Agreement to be signed and delivered as of the date first written above.

 

	 	RDE:
	 	 	 
	 	RDE, INC.
	 	 	 
	 	By:	/s/
    Ketan Thakker
	 	Name:	Ketan
    Thakker
	 	Title:	President
    and CEO
	 	 	 
	 	Merger Sub:
	 	 	 
	 	GAMEIQ ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Ketan Thakker
	 	Name:	Ketan
    Thakker
	 	Title:	President
    and CEO
	 	 	 
	 	GAMEIQ:
	 	 	 
	 	GAMEQ, INC.
	 	 	 
	 	By:	/s/
    Balazs Wellisch
	 	Name:	Balazs
    Wellisch,
	 	Title:	President

 

    	 

    	 

    

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DISCLOSURE
SCHEDULES

 

These
Disclosure Schedules are provided pursuant to the Agreement and Plan of Merger dated as of January __, 2022 (the “Merger
Agreement”), by and among RDE, Inc., a Delaware corporation, and GameIQ Acquisition Corp. a Delaware corporation and wholly-owned
subsidiary of RDE, Inc., and GameIQ, Inc., a California corporation. Capitalized terms used but not otherwise defined in these Disclosure
Schedules have the meanings given to them in the Merger Agreement.

 

No
reference to or disclosure of any item or other matter in these Disclosure Schedules will be construed as an admission or indication
that such item or other matter is material or would have a material adverse effect or impact as used in the Merger Agreement. No disclosure
in these Disclosure Schedules relating to any possible breach of, violation of, or conflict with any Contract (other than the Merger
Agreement) or legal requirement will be construed as an admission thereof.

 

Matters
reflected in these Disclosure Schedules are not necessarily limited to matters required by the Merger Agreement to be reflected in these
Disclosure Schedules. Such additional matters are set forth for informational purposes only.

 

Any
information disclosed in any one section of these Disclosure Schedules with respect to any representation or warranty will be deemed
disclosed for the purposes of any other section(s) of these Disclosure Schedules to the extent it is reasonably apparent on the face
of such disclosure that it also relates to such other section(s).

 

    	 

    	 

    

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List
of Schedules

 

	Schedule
    4.3	Insurance

 

    	 

    	 

    

Page
32 of 34

 

Schedule
4.1

Insurance

 

GameIQ
does not maintain cybersecurity insurance.

 

    	 

    	 

    

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33 of 34

 

Exhibit
A

 

FORM
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FORM
OF PROMISSORY NOTE TO QUENTIN BLACKFORDDocument

Exhibit 10.1

AMENDED AND RESTATED
EMPLOYMENT AGREEMENT
This Amended and Restated Employment Agreement (the “Agreement”), dated as of April 7, 2022 (the “Effective Date”) is between Universal Insurance Holdings, Inc., a Delaware corporation (the “Company”) and Stephen J. Donaghy (the “Executive”).
WHEREAS, the Company and Executive are parties to an Employment Agreement, dated as of February 12, 2020, as amended as of April 20, 2020 (the “Prior Agreement”), pursuant to which Executive is employed as Chief Executive Officer of the Company; and
WHEREAS, Executive and the Company now desire to enter into this Agreement in connection with Executive’s continuing employment for the Term (as defined below) as the Chief Executive Officer of the Company;
NOW, THEREFORE, in consideration of the covenants and promises contained herein and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1.    Employment and Acceptance.  During the Term, the Company agrees to continue employ Executive, and Executive agrees to continue his employment with the Company, subject to the provisions of this Agreement.  As of the Commencement Date (as defined below), this Agreement supersedes and replaces in all respects the Prior Agreement, except as specifically provided in Section 13 hereof.
2.    Term.  The period of Executive’s employment with the Company under this Agreement commenced on January 1, 2020 (the “Commencement Date”) and will continue until the termination of such employment in accordance with Section 5 (the “Term”).
3.    Duties and Title.
(a)Title and Reporting.  During the Term, the Company will continue to employ Executive as the Chief Executive Officer of the Company, reporting directly and exclusively to the Board of Directors of the Company (the “Board”) or one or more committees of the Board.  During the Term, Executive shall, subject to his election by the Company’s stockholders, serve for no additional consideration as a member of the Board.
(b)Duties.  Executive shall render on a full-time basis all of his business time and attention to the business of the Company and its subsidiaries (collectively, the “Company Group”).  Executive will have such authority and responsibilities and will perform such duties assigned to the Chief Executive Officer by the by-laws of the Company and as may be assigned to him from time to time by the Board, commensurate with his position.  If requested by the Board, Executive will also serve as an officer or director of another member of the Company Group for no additional consideration.  During the Term, Executive’s principal place of employment will be the Company’s headquarters in Florida, except that Executive acknowledges and agrees that he will be required to travel for business purposes.
(c)Other Business and Other Activities.  Executive may not engage in any activity that conflicts with the interests of any member of the Company Group or that would interfere with the performance of Executive’s duties to any member of the Company Group, as determined by the Board.  During the Term, Executive may not hold, directly or indirectly, an ownership interest of more than 2% in any entity other than the Company.  During the Term, with the prior written consent of the Board (which consent will not be unreasonably withheld), Executive may serve on the board of directors of one other public company.  Nothing in this Agreement shall preclude Executive from dedicating reasonable amounts of time during the Term to charitable or civic activities, or from managing his personal finances and investments (including as previously disclosed to the Compensation Committee of the Board of Directors (the “Committee”)), as long as such activities do not interfere in any material way with his duties and responsibilities to any member of the Company Group.
4.    Compensation and Benefits by the Company.  As compensation for all services rendered pursuant to this Agreement, the Company will provide Executive with the following pay and benefits during the Term:

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(a)Base Salary.  The Company will pay Executive an annual base salary of $1 million, payable in accordance with the Company’s customary payroll practices (“Base Salary”).  The annual rate of Executive’s Base Salary shall not be increased or decreased during the Term.
(b)Annual Bonus.  For each calendar year ending during the Term in which Executive remains employed by the Company, Executive shall be eligible to earn a cash incentive award (the “Annual Bonus”).  The Annual Bonus for each calendar year shall be 150% of Base Salary for target performance, 75% of Base Salary for threshold performance, and 300% of Base Salary for maximum performance, with the actual Annual Bonus payable being based upon the level of achievement of annual company and individual performance objectives for such calendar year (and, if the level of achievement is between any of the performance levels set forth for threshold, target and maximum performance, the Annual Bonus will be determined by straight-line interpolation between such levels of achievement), as determined by the Committee and communicated to Executive as soon as practicable following such determination.  The achievement of the performance objectives shall be determined in a manner consistent with generally accepted accounting principles, subject to adjustments for certain extraordinary or special items, in the form and manner determined in the sole discretion of the Committee.  The calculation of the Annual Bonus shall be made promptly after the completion of the annual audit for each fiscal year ending December 31, subject to approval by the Committee; provided, however, that in no event shall any Annual Bonus be paid to Executive later than March 15 of the calendar year following the calendar year for which the Annual Bonus was earned.  Except as provided in Section 5, Executive shall not be eligible to earn or receive an Annual Bonus for a calendar year during the Term unless he is employed by the Company on December 31 of the calendar year to which such bonus relates.
(c)Participation in Executive Benefit Plans; Private Office and Administrative Assistance.  Executive is entitled, if and to the extent eligible, to participate in the Company’s benefit plans generally available to Company employees in similar positions.  For each full month during the Term, the Company shall provide Executive with a car allowance in the amount of $625 per month.  Executive shall be given a private office with administrative assistance at Executive’s principal place of employment as specified in Section 3(b) above and any and all reasonable facilities and services so as to be suitable with his position as Chief Executive Officer, and so as to assist in the performance of his duties and activities.
(d)Long-Term Incentive Equity.
(i)Annual Grant of RSUs.  For each calendar year during the Term in which Executive remains employed by the Company, Executive shall be eligible for an annual grant of restricted share units (“RSUs”) with a target value of $1,750,000, which grant shall be made pursuant to the Universal Insurance Holdings, Inc. 2021 Omnibus Incentive Plan, as it may be amended from time to time, and any successor plan thereto (the “Omnibus Plan”), shall be subject to the terms and conditions of the applicable equity award agreement that evidences such award under the Omnibus Plan, and shall be governed by the Omnibus Plan, the applicable equity award agreement, and any other applicable award documentation, except that, in the event of any inconsistency between the terms of the award documentation and this Agreement, the provisions of this Agreement shall control.
(ii)Vesting Requirements.  No more than fifty percent (50%) of the RSUs granted to Executive each calendar year shall be subject to time-based vesting conditions (the “Time-Based RSUs”), with one-third (1/3rd) of such Time-Based RSUs vesting annually over three (3) years, subject to Executive’s continuous employment through the applicable vesting date(s), and no less than fifty percent (50%) of the RSUs granted to Executive each calendar year shall be earned based upon the level of achievement of pre-established annual company performance objectives during a three (3)-year performance award cycle commencing on the January 1 of the year in which the grant is made, as determined by the Compensation Committee during the first quarter of the first calendar year during the performance period and communicated to Executive as soon as practicable following such determination (the “Performance-Based RSUs”), with any earned Performance-Based RSUs settled within 60 days following the end of the applicable three-year performance period, subject to Executive’s continuous employment through the applicable settlement date.  Executive shall be eligible to earn 100% of the Performance-Based RSUs for target performance, 50% of the Performance-Based RSUs for threshold performance and 200% of the Performance-Based RSUs for maximum performance.  Except as otherwise provided in Section 5 or 6, Executive shall forfeit, and have no rights with respect to, any portion of the RSUs that has not vested prior to the date Executive’s employment with the Company ends.
(e)Vacation.  Executive will be entitled to 30 days (6 weeks) of paid vacation per calendar year (earned pro rata over the course of the year), subject to the Company’s standard vacation policies.  Any unused 
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vacation for a given calendar year shall accrue, and the aggregate value of any unused accrued vacation shall be paid to Executive upon the termination of Executive’s employment with the Company to the extent required under the terms of the Company’s vacation policy, provided that Executive has submitted a report to the Committee within 30 days following the end of each calendar year reporting on the number of accrued and unused vacation days for such year.
(f)Expense Reimbursement.  The Company will pay or reimburse Executive for all appropriate business expenses Executive incurs in connection with Executive’s duties under this Agreement, in accordance with the Company’s policies as in effect from time to time, subject to the timely submission by Executive of written documentation of such expenses in accordance with the applicable policies of the Company.
5.    Termination of Employment.
(a)Notice.  Subject to the provisions of this Section 5, the Company may terminate Executive’s employment, and Executive may resign his employment, for any reason or for no stated reason, at any time during the Term.  The Company shall give Executive 60 days’ prior written notice of its intention to terminate his employment other than for Cause (as defined below), and Executive shall give the Company 60 days’ prior written notice of his intention to resign for any reason.  Any such notice shall specify the applicable termination or resignation date.  In the event of a termination or resignation notice, the Company will have the right to restrict Executive’s access to its premises, clients and employees during the notice period.
(b)Accrued Obligations.  If Executive’s employment ends for any reason, Executive (or in the event of his death, Executive’s estate) will receive, within 30 days following the Termination Date (as defined below), a lump sum cash payment equal to: (i) his accrued but unpaid Base Salary through the Termination Date and any earned but unpaid Annual Bonus for any year prior to the year in which the Termination Date occurs, (ii) any employee benefits Executive may be entitled to pursuant to the Company’s employee benefit plans through the Termination Date, (iii) any accrued and unused vacation as set forth in Section 4(e) above through the Termination Date, and (iv) any expenses reimbursable under Section 4(f) incurred but not yet reimbursed to Executive through the Termination Date (collectively, the “Accrued Obligations”).
(c)Termination with Cause; Resignation without Good Reason.
(i)In General; Payments.  The Company has the right at any time to terminate Executive’s employment with the Company for Cause (as defined below) and, subject to Section 5(a) above, Executive has the right to resign without Good Reason (as defined below).  If the Company terminates Executive for an event of Cause described in clause (B), (C), or (D) of Section 5(c)(ii), the Company shall provide Executive 30 days prior to the date on which it intends to terminate Executive’s employment for Cause with a written notice from the Company identifying the reasons that are alleged to constitute Cause and shall afford Executive a reasonable opportunity to meet once with the Board within the 30-day notice period to discuss and present evidence relevant to the Board’s conclusions.  If the Company terminates Executive’s employment for an event of Cause not described in the previous sentence, such termination shall be effective immediately upon the Company’s written notice to Executive.  If the Company terminates Executive’s employment for Cause or Executive resigns without Good Reason, the Company’s obligation to Executive shall be limited solely to the Accrued Obligations.  If Executive’s employment is terminated for Cause or if Executive resigns his employment without Good Reason, no Annual Bonus shall be payable for the calendar year in which such termination or resignation, as applicable, occurs.
(ii)For purposes of this Agreement, “Cause” means, as determined by a majority of the non-employee members of the Board and documented in a resolution of the Board approved by such majority of non-employee members of the Board, any of the following: (A) Executive’s abuse of alcohol or any controlled substance; (B) a willful act of fraud, dishonesty or breach of fiduciary duty on the part of Executive with respect to the business or affairs of the Company; (C) a knowing and material failure by Executive to comply with applicable laws and regulations or professional standards relating to the business of the Company; (D) Executive’s willful and continuing failure to perform his duties to the Company (after notice from the Board of such failure) or any material breach by Executive of a provision of this Agreement except, in each case, where such failure or breach is caused by the illness or other similar medical incapacity (other than for a reason described in clause (A) of this Section 5(c)(ii)) of Executive or any willful act or omission by Executive that results in material harm to the Company’s financial condition, business or reputation; (E) Executive being subject to an inquiry or investigation by a governmental authority or self-regulatory organization such that the existence of such inquiry or investigation will, in the judgment of the Board, result in material damage to the Company’s business interests, licenses, reputation 
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or prospects; or (F) Executive’s conviction of, or plea of guilty or no contest to: (i) any felony or (ii) any misdemeanor involving moral turpitude.  For purposes of this definition, no act or omission shall be deemed willful unless done intentionally and without a good faith belief by Executive that such act or omission was in the best interest of the Company.
(d)Termination without Cause; Resignation for Good Reason.
(i)Subject to the further provisions of this Section 5(d) and Section 6, if prior to a Change in Control, the Company terminates Executive’s employment without Cause or Executive resigns for Good Reason, the Company will pay Executive on the 60th day following the Termination Date, in addition to the Accrued Obligations, a lump-sum cash payment equal to the following (the “Severance Amount”):
•One times the amount of Executive’s then-current annual rate of Base Salary (based on the rate in effect immediately prior to the Termination Date); and
•The cost of 12 months of COBRA coverage for Executive and his dependents (based on the COBRA rates in effect on the Termination Date).
In addition, by no later than March 15th of the year following the year in which the Termination Date occurs, Executive shall receive a pro rata portion of the Annual Bonus (the “Pro Rata Bonus”) for the year of termination calculated on the basis of the Company’s actual performance for such year and prorated based on the numbers of days elapsed in such year through the Termination Date.
(ii)The Company’s obligation to pay Executive the Severance Amount and the Pro Rata Bonus are each expressly conditioned upon Executive’s execution and timely delivery to the Company of a valid and irrevocable release agreement in substantially the form of attached Schedule A by no later than 45 days following the Termination Date.
(iii)As used in this Section 5(d), “Good Reason” means any of the following acts or omissions by the Company occurring without Executive’s prior written consent: (A) any action by the Board which results in a material adverse change in Executive’s title, duties or reporting responsibilities; (B) the assignment to Executive of duties materially inconsistent with Executive’s position as Chief Executive Officer; (C) a reduction in Executive’s rate of Base Salary or Annual Bonus opportunity or the failure by the Company (other than by reason of bankruptcy, insolvency or receivership) to pay Executive’s Base Salary or any earned Annual Bonus; (D) the requirement by the Board that Executive move his principal place of employment more than 50 miles from the location of his principal place of employment on the Commencement Date; or (E) any material breach by the Company of this Agreement.  Notwithstanding the above, an act or omission by the Company shall not constitute an event of Good Reason unless Executive gives the Company written notice within 60 days following the date Executive first knows, or reasonably should have known, of the event constituting Good Reason of his intention to resign for Good Reason if such Good Reason event is not cured by the Company, and the Company does not cure such event (retroactively with respect to any monetary matter) to the reasonable satisfaction of Executive within 30 days following the date the Company receives such written notice from Executive.
(e)Termination Due to Death or Disability.
(i)If, during the Term, Executive shall become unable to perform his duties as provided for herein by reason of Disability (as defined below), then the Company may, on 30 days’ prior written notice to Executive, temporarily suspend his status as Chief Executive Officer of the Company.  In the event of such suspension, Executive shall remain an employee of the Company and receive his compensation and benefits as set forth above in Section 4 for the lesser of: (i) one year from the date of such suspension or (ii) the date on which Executive is first eligible for long-term disability payments under the Company’s long-term disability plan then applicable to him (the “Suspension Period”).  If during the Suspension Period, Executive returns to perform his duties as provided for herein, and there is no physical or mental inability to perform such duties, then Executive shall resume his status as Chief Executive Officer, and the Company shall continue payment of his full compensation and benefits as set forth in Section 4.  Executive’s employment with the Company shall terminate at the end of the Suspension Period if Executive has not returned by the end of the Suspension Period to the full-time performance of his duties hereunder.
(ii)If Executive’s employment terminates because of Executive’s death or Disability, within 30 days of such termination, the Company will pay to Executive (or Executive’s estate, in the case of 
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Executive’s death) the Accrued Obligations and any employee benefits to which Executive may be entitled to pursuant to the Company’s employee benefit plans through such period; provided, however, that, in the case of Executive’s death, benefit payments under any employee benefit plan shall be paid to Executive’s beneficiary or beneficiaries designated pursuant to such employee benefit plans in lieu of to his estate.  In addition, by no later than March 15th of the year following the year in which the applicable Termination Date occurs, Executive (or Executive’s estate in the case of Executive’s death) shall also be paid a Pro Rata Bonus for the year in which the termination occurs.
(iii)“Disability” means a determination by the Board after review of written information provided by Executive’s healthcare provider that, as a result of a physical or mental injury or illness, Executive has been unable to perform the essential functions of Executive’s job for a period of 90 consecutive days.
(f)Termination Date.    For purposes of this Agreement, “Termination Date” shall have the following meanings:
(i)in the event of Executive’s termination for Cause, subject to the applicable notice provisions, the date specified in the written notice of termination delivered to Executive by the Company in accordance with Section 5(c);
(ii)in the event of Executive’s resignation with or without Good Reason, the 60th day following the date the written notice of intention to resign is received by the Company;
(iii)in the event of Executive’s termination without Cause, the 60th day following the date the written notice of termination is received by Executive;
(iv)in the event of Executive’s termination due to death, the date of Executive’s death; and
(v)in the event of Executive’s termination due to Disability, the last day of the Suspension Period, if Executive has not returned to the full-time performance of his duties as specified in Section 5(e) by such date.
6.    Change in Control.
(a)Termination in Connection with a Change in Control.
(i)In the event that the Company terminates Executive’s employment without Cause or Executive resigns his employment with the Company for Good Reason, in each case, upon or within 24 months following the date on which a Change in Control occurs (such date of occurrence, the “CIC Date”), then, in lieu of the Severance Amount, the Company or its successor shall pay Executive no later than the 60th day following the Termination Date a cash lump sum amount equal to the sum of (1) two times Executive’s then annual rate of Base Salary plus (2) two times the amount of the Annual Bonus paid or payable to Executive for the calendar year prior to the calendar year in which the CIC Date occurs.  Notwithstanding anything herein to the contrary, Executive’s entitlements under this Section 6(a)(i) are each expressly conditioned upon the timely satisfaction of the release delivery requirements of Section 5(d)(ii).
(ii)For purposes of this Agreement, a “Change in Control” shall be deemed to have occurred if: (A) there shall be consummated (I) any consolidation or merger in which the Company is not the continuing or surviving corporation or pursuant to which shares of the Company’s common stock would be converted into cash, securities or other property, other than a consolidation or a merger having the same proportionate ownership of common stock of the surviving corporation immediately after the consolidation or merger or (II) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions other than in the ordinary course of business of the Company) of all, or substantially all, of the assets of the Company to any corporation, person or other entity which is not a direct or indirect wholly-owned subsidiary of the Company, (B) any person, group, corporation or other entity (collectively, “Persons”) shall acquire beneficial ownership (as determined pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, and rules and regulations promulgated hereunder) of more than 50% of the Company’s outstanding common stock or voting securities or (C) individuals who, as of the Commencement Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at 
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least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Commencement Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board.
(iii)For purposes of this Agreement, the “CIC Date” shall mean: (A) with respect to a transaction contemplated under clause (A)(I) of Section 6(a)(ii), the closing date of such consolidation or merger; (B) with respect to a transaction contemplated under clause A(II) of Section 6(a)(ii), the date on which such sale, lease, exchange or other transfer is completed (which shall be the completion date of the final transaction if a series of transactions is contemplated); (C) with respect to an acquisition contemplated under clause (B) of Section 6(a)(ii), the date of the closing of the tender offer or other acquisition pursuant to which the requisite beneficial ownership percentage is acquired by such Person or Persons; and (D) with respect to a change in Board composition contemplated under clause (C) of Section 6(a)(ii), the date of appointment of the director or group of directors that would cause the Incumbent Board to cease to constitute a majority for purposes of such clause (C).
(b)Limitation on Change in Control Payments.  Notwithstanding anything in this Agreement to the contrary, in the event that it is determined by an independent accounting firm chosen by mutual agreement of the parties (the “Accounting Firm”) that any economic benefit, payment or distribution by the Company to or for the benefit of Executive, whether paid, payable, distributed or distributable pursuant to the terms of this Agreement or otherwise (a “Payment”), would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (and the applicable regulations thereunder) (the “Code”) (such excise tax referred to in this Agreement as the “Excise Tax”), then the value of any such Payments payable under this Agreement (the “Agreement Payments”) which constitute “parachute payments” under Section 280G(b)(2) of the Code, as determined by the Accounting Firm, will be reduced so that the present value of all Payments (calculated in accordance with Section 280G of the Code and the regulations thereunder), in the aggregate, is equal to 2.99 times Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code (the “Reduced Amount”).  Notwithstanding the foregoing, the Agreement Payments shall be reduced to the Reduced Amount only if the Accounting Firm determines that Executive would have a greater “Net After-Tax Receipt” (as defined below) of aggregate Payments if Executive’s Agreement Payments were reduced to the Reduced Amount.  “Net After Tax-Receipt” shall mean the present value (as determined in accordance with Section 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code) of a Payment net of all taxes imposed on Executive with respect thereto under Sections 1 and 4999 of the Code and under applicable state and local laws (and including any employment, social security or Medicare taxes, and other taxes (including any other excise taxes)), determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws which applied to Executive’s taxable income for the tax year in which the CIC Date occurs, or such other rate(s) as the Accounting Firm determines to be likely to apply to Executive in the relevant tax year(s) in which any Payment is expected to be made.
7.    Restrictions and Obligations of Executive.
(a)Non-Disparagement.  Executive will not at any time (whether during or after the Term) publish or communicate to any person or entity any Disparaging remarks, comments or statements concerning the Company or any member of the Company Group and any of its or their respective present and former members, partners, directors, officers, stockholders, employees, agents, attorneys, successors, assigns, clients and agents.  The Company will not at any time (whether during or after the Term) cause or assist the then-current Chief Executive Officer (if not Executive) or any of its then-current directors to publish or communicate, to any person or entity any Disparaging remarks, comments or statements concerning Executive.  “Disparaging” remarks, comments or statements are those that impugn the character, honesty, integrity, morality, business acumen or abilities in connection with any aspect of the operation of business of the individual or entity being disparaged.
(b)Confidentiality.
(i)During the course of Executive’s employment, Executive has had and will have access to certain trade secrets and confidential information relating to the Company and the members of the Company Group which is not readily available from sources outside the Company.  The parties agree that the business in which the Company and the Company Group engages is highly sales-oriented and the goodwill established between Executive and the Company’s customers and potential customers is a valuable and legitimate business interest worthy of protection under this Agreement.  Executive recognizes 
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that, by virtue of Executive’s employment by the Company, Executive is granted otherwise prohibited access to the Company Group’s confidential and proprietary data which is not known to its competitors and which has independent economic value to the Company and that Executive will gain an intimate knowledge of each member of the Company Group’s reinsurance business and its policies, customers, employees and trade secrets, and of other confidential, proprietary, privileged or secret information of the Company and its clients (collectively, all such nonpublic information is referred to as “Confidential Information”).  This Confidential Information includes, but is not limited to, data relating to each member of the Company Group’s marketing and servicing programs, procedures and techniques, business, management and personnel strategies, analytic tools and processes, the criteria and formulae used by the Company and other members of the Company Group in pricing its insurance products and claims management, loss control and information management services, the Company’s and each Company Group member’s computer system, reinsurance marketing program and the skill of marketing and selling products, the structure and pricing of special reinsurance products or packages that each member of the Company Group has negotiated with various underwriters, lists of prospects, customer lists and renewals, the identity, authority and responsibilities of key contacts at clients’ accounts, the composition and organization of clients’ business, the peculiar risks inherent in a client’s operations, highly sensitive details concerning the structure, conditions and extent of a client’s existing insurance and reinsurance coverages, policy expiration dates and premium amounts, commission rates, risk management service arrangements, loss histories and other data showing clients’ particularized insurance requirements and preferences.
(ii)Except as required by law or an order of a court or governmental agency with jurisdiction, Executive will not, during the Term or any time thereafter, disclose any Confidential Information, directly or indirectly, to any person or entity for any reason or purpose whatsoever, nor will Executive use Confidential Information for any commercial or business purpose.  Executive will take all reasonable steps to safeguard the Confidential Information and to protect it against disclosure, misuse, espionage, loss and theft.  Executive understands and agrees that Executive will acquire no rights to any such Confidential Information.
(iii)At the Company’s request from time to time and upon the termination of Executive’s employment for any reason, Executive will promptly deliver to the Company all copies and embodiments, in whatever form, of all Confidential Information in Executive’s possession or within Executive’s control (including, but not limited to, memoranda, records, notes, plans, photographs, manuals, notebooks, documentation, program listings, flow charts, magnetic media, disks, diskettes, tapes and all other materials containing any Confidential Information) irrespective of the location or form of such material.  If requested by the Company, Executive will provide the Company with written confirmation that all such materials have been delivered to the Company as provided herein.
(iv)Notwithstanding anything herein to the contrary, Executive shall have the right under Federal law to certain protections for cooperating with or reporting legal violations to the Securities and Exchange Commission (the “SEC”) and/or its Office of the Whistleblower, as well as certain other governmental entities.  No provisions in this Agreement are intended to prohibit Executive from disclosing this Agreement to, or from cooperating with or reporting violations to, the SEC or any other such governmental entity, and Executive may do so without disclosure  to the Company. The Company may not retaliate against Executive for any of these activities, and nothing in this Agreement would require Executive to waive any monetary award or other payment that Executive might become entitled to from the SEC or any other governmental entity.
(v)Under the Defend Trade Secrets Act of 2016, 18 U.S.C. § 1833(b) (the “Act”), persons who disclose trade secrets in connection with lawsuits or other proceedings under seal (including lawsuits alleging retaliation), or in confidence to a federal, state or local government official, or attorney, solely for the purpose of reporting or investigating a suspected violation of law, enjoy immunity from civil and criminal liability under state and federal trade secrets laws for such disclosure. Executive acknowledges that Executive has hereby received adequate notice of this immunity, such that the Company is entitled to all remedies available for violations of the Act, including exemplary damages and attorney fees.  Nothing in this Agreement is intended to conflict with the Act or create liability for disclosures of trade secrets that are expressly allowed by the Act.
(c)Non-Solicitation or Hire.  While employed by the Company and for a period of 36 months following the termination of Executive’s employment for any reason (whether during or after the Term) (the “Non-Solicit Period”), Executive will not directly or indirectly solicit or attempt to solicit or induce, directly or indirectly: (1) any person who is a client, customer or policyholder of any member of the Company Group, or who was a client, customer or policyholder of any member of the Company Group at any time during the one-year period immediately 
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prior to the Termination Date, for the purpose of marketing, selling or providing to any such party any services or products offered by or available from any member of the Company Group and (2) any employee of, or independent contractor or consultant to, any member of the Company Group or any person who was an employee of, or independent contractor or consultant to, any member of the Company Group during the one-year period immediately prior to the Termination Date to terminate such employee’s employment relationship or such independent contractor’s or consultant’s relationship with such member of the Company Group, in either case, to enter into a similar relationship with Executive or any other person or any entity in competition with any member of the Company Group.  During the Non-Solicit Period, Executive will not enter into an employment, consulting or independent contractor relationship, directly or indirectly, with any employee of, or independent contractor or consultant to, any member of a Company Group or any person who was an employee of, or independent contractor or consultant to, any member of a Company Group during the one-year period immediately prior to the date Executive’s employment terminates.  Notwithstanding the foregoing, solicitations incidental to general advertising or other general solicitations in the ordinary course not specifically targeted at such employees, independent contractors or consultants and employment of (or entry into an independent contractor or consultancy relationship with) any person not otherwise solicited in violation hereof shall not be considered a violation of this Section 7(c).  Executive shall not be in violation of this Section 7(c) solely by providing a reference for a former employee of, or independent contractor or consultant to, the Company.
(d)Non-Competition.  While employed by the Company and for a period of 36 months following Executive’s termination of employment for any reason (whether during or after the Term) (the “Non-Compete Period”), Executive will not, whether individually, as a director, manager, member, stockholder, partner, owner, employee, consultant or agent of any business, or in any other capacity, other than on behalf of a member of the Company Group, organize, establish, own, operate, manage, control, engage in, participate in, invest in, permit Executive’s name to be used by, act as a consultant or advisor to, render services for (alone or in association with any person, firm, corporation or business organization) or otherwise assist any person or entity that engages in or owns, invests in, operates, manages or controls any venture or enterprise which engages or proposes to engage in any business conducted by any member of the Company Group during the one-year period immediately prior to the date Executive’s employment terminates.  In the event that the Term expires on December 31, 2022 and Executive and Company have not entered into a new employment agreement or renewed this Agreement on or prior to such date, the Non-Compete Period shall expire on December 31, 2024.
(e)Company Policies.  During the Term and all periods thereafter, Executive will remain in material compliance with the Company’s policies and guidelines, including the Company’s code of business conduct or code of ethics.
8.Remedies; Specific Performance.  The parties acknowledge and agree that Executive’s breach or threatened breach of any of the restrictions set forth in Section 7 will result in irreparable and continuing damage to the Company and the Company Group for which there may be no adequate remedy at law and that the Company and the Company Group are entitled to equitable relief, including specific performance and injunctive relief as remedies for any such breach or threatened or attempted breach.  Executive consents to the grant of an injunction (temporary or otherwise) against Executive or the entry of any other court order against Executive prohibiting and enjoining Executive from violating, or directing Executive to comply with, any provision of Section 7.  Executive also agrees that such remedies are in addition to any and all remedies, including damages, available to the Company and the Company Group against Executive for such breaches or threatened or attempted breaches.  In addition, without limiting the Company’s and the Company Group’s remedies for any breach of any restriction on Executive set forth in Section 7, except as required by law, Executive is not entitled to any payments set forth in Sections 5(d) or 6(a) if Executive has materially breached the covenants contained in Section 7.  Executive will immediately return to the Company any such payments previously received under Sections 5(d) or 6(a) upon such a material breach and, in the event of such breach, the Company will have no obligation to pay any of the amounts that remain payable by the Company under Sections 5(d) or 6(a).
9.Code Section 409A.  The provisions of this Section 9 shall apply notwithstanding any provision of this Agreement.
(a)Delay of Payments.  If, at the time of Executive’s termination or resignation with the Company, Executive is a Specified Employee (as defined below), then any amounts payable to Executive that the Company determines constitute deferred compensation within the meaning of Section 409A of the Code and which are subject to the six-month delay required by Treas. Reg. Section 1.409A-1(c)(3)(v), shall be delayed and not paid to Executive until the first business day following the six-month anniversary of Executive’s date of termination or resignation (the “Deferral Date”), at which time such delayed amounts will be paid to Executive in a cash lump sum (the “Catch-Up Amount”).  If payment of an amount is delayed as a result of this Section 9(a), such amount shall be increased with interest from the date on which such amount would otherwise have been paid to Executive but for 
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this Section 9(a) to the day prior to the date the Catch-Up Amount is paid.  The rate of interest shall be the applicable short-term federal rate applicable under Section 7872(f)(2)(A) of the Code for the month in which the date of Executive’s termination or resignation occurs.  Such interest shall be paid at the same time that the Catch-Up Amount is paid.  If Executive dies on or after the date of Executive’s termination or resignation of employment and prior to the Deferral Date, any amount delayed pursuant to this Section 9(a) shall be paid to Executive’s estate or beneficiary, as applicable, together with interest, within 30 days following the date of Executive’s death.
(b)“Specified Employee” has the meaning set forth in Section 409A(a)(2)(B)(i) of the Code.  The determination of whether Executive constitutes a Specified Employee on the date of his termination or resignation shall be made in accordance with the Company’s established methodology for determining Specified Employees.
(c)“Separation from Service” means a “separation from service” from the Company within the meaning of the default rules under the final regulations issued pursuant to Section 409A of the Code.  For purposes of compliance with Section 409A of the Code, when used in this Agreement, the terms “terminate,” “terminated,” “termination,” “resign,” “resigned” and “resignation” mean a termination of Executive’s employment that constitutes a Separation from Service.
(d)Separate Payments and Reimbursements.  For purposes of applying the provisions of Section 409A of the Code to this Agreement, each separately identifiable amount to which Executive is entitled under this Agreement shall be treated as a separate payment.  To the extent any reimbursements or in-kind benefit payments under this Agreement are subject to Section 409A, such reimbursements and in-kind benefit payments shall be made in accordance with Section 409A, and payments of such reimbursements or in-kind benefits shall be made on or before the last day of the calendar year following the calendar year in which the relevant expense is incurred.
10.Stock Ownership Guidelines.      Executive will comply with all stock ownership and stock retention guidelines or policies established by the Board and the Committee, as in effect from time to time.
11.Claw Back Policy.  All compensation granted to Executive hereunder shall be subject to any and all claw back policies of the Company, as in effect from time to time.
12.Notice.  For purposes of this Agreement, all notices and other communications will be in writing and will be deemed to have been duly given when delivered or if sent either by Federal Express, hand-delivery, e-mail, or postage prepaid, by certified mail, return receipt requested, with a copy by ordinary mail, to the addresses below:
						
	If to Executive:	If to the Company:
	Stephen J. Donaghy
At Executive’s most recent address 
on file with the Company

	Universal Insurance Holdings, Inc.
1110 West Commercial Boulevard 
Fort Lauderdale, Florida 33309
Attn:  Beth Wallace

or to such other address as any party may have furnished to the other in writing in accordance with this Section 12, except that notices of any change of address is effective only upon actual receipt.
13.Entire Agreement.  This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto, including, without limitation, the Prior Agreement; provided, however, that the terms of this Agreement shall not supersede or replace any equity award made prior to the Effective Date.  No severance or other termination payments are payable to Executive under the Prior Agreement or under any other plan or arrangement of the Company in connection with the execution of this Agreement or the termination of the Prior Agreement.  Notwithstanding anything herein to the contrary, the provisions of the Prior Agreement related to equity awards made prior to the Effective Date shall continue to apply to such equity awards, including, for the avoidance of doubt, the provisions of Sections 4(d), (e), (f) and (g), Section 5 and Section 6 of the Prior Agreement.
14.Waiver and Amendments.  This Agreement may be amended, modified, superseded, canceled, renewed or extended, and the terms and conditions hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving compliance.  Except as provided in Section 5(d)(iii), no delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any right, power or privilege hereunder, nor any single or partial exercise of any 
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right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder.
15.Governing Law.  This Agreement and the implementation of it shall be subject to and governed by the laws of the State of Florida applicable to contracts fully executed and performed in such State.
16.Venue.  The parties agree that the exclusive venue for any litigation relating to this Agreement will be the state courts located in Broward County, Florida and the United States District Court, Southern District of Florida, Fort Lauderdale Division in Broward County, Florida.  The parties waive any rights to object to venue as set forth herein, including any argument of inconvenience for any reason.
17.Assignability by the Company and Executive.  The Company shall have the right to assign this Agreement to its successors or assigns, and Executive hereby consents to any such assignment.  All covenants or agreements hereunder shall inure to the benefit of, and be enforceable by or against, the Company’s successors or assigns.  The terms “successors” and “assigns” shall include, but not be limited to, any successor upon a Change in Control.  Executive may not assign this Agreement or the rights and entitlements hereunder, except that any payments owed to Executive under this Agreement in the event of his death shall be payable to his estate.  Executive may not delegate his duties and responsibilities hereunder.
18.Counterparts.  This Agreement may be executed in counterparts, each of which will be deemed an original but all of which will constitute one and the same instrument.
19.Headings.  The headings in this Agreement are for convenience of reference only and will not limit or otherwise affect the meaning of terms contained herein.
20.Severability.  If any term, provision, covenant or restriction of this Agreement, or any part thereof, is held by a court of competent jurisdiction of any foreign, federal, state, county or local government or any other governmental, regulatory or administrative agency or authority to be invalid, void, unenforceable or against public policy for any reason, the remainder of the terms, provisions, covenants and restrictions of this Agreement will remain in full force and effect and will in no way be affected or impaired or invalidated.  If any court determines that any of such covenants, or any part thereof, is invalid or unenforceable because of the geographic or temporal scope of such provision, such court will reduce such scope to the minimum extent necessary to make such covenants valid and enforceable.  Executive acknowledges that the restrictive covenants contained in Section 7 are a condition of this Agreement and are reasonable and valid in temporal scope and in all other respects.
21.Tax Withholding.  The Company or other payor is authorized to withhold from any benefit provided or payment due hereunder, the amount of withholding taxes due any federal, state or local authority in respect of such benefit or payment and to take such other action as may be necessary in the Company’s opinion to satisfy all obligations for the payment of such withholding taxes.
22.Obligations Survive Termination of Employment.  The termination of Executive’s employment for whatever reason will not impair or relieve Executive of any of Executive’s obligations under this Agreement which, by their express terms or by implication, extend beyond the term of Executive’s employment.
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IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have executed this Agreement as of the day and year first above mentioned.

EXECUTIVE:

/s/ Stephen J. Donaghy        
Stephen J. Donaghy

UNIVERSAL INSURANCE HOLDINGS, INC.

/s/ Sean Downes        
By:  Sean Downes
Title:  Executive Chairman

11

Schedule A
RELEASE AGREEMENT
In consideration of the payments and benefits to be provided to him by Universal Insurance Holdings, Inc. (the “Company”) pursuant to the agreement dated as of February __, 2020, by and between the Company and himself (the “Employment Agreement”), Stephen J. Donaghy (“Executive”), agrees to be bound by this Release Agreement (the “Agreement”). 
Accordingly, Executive agrees as follows:
1.    Release.
    (a)    Executive waives any claims he may have for employment by the Company and agrees not to seek such employment or reemployment by the Company in the future.  Further, in consideration of the payments and benefits to be provided by the Company pursuant to the Employment Agreement, Executive, on behalf of himself and his heirs, executors, devisees, successors and assigns, knowingly and voluntarily releases, remises, and forever discharges the Company and its parents, subsidiaries or affiliates, together with each of their current and former principals, officers, directors, stockholders, agents, representatives and employees, and each of their heirs, executors, successors and assigns (collectively, the “Releasees”), from any and all debts, demands, actions, causes of action, accounts, covenants, contracts, agreements, claims, damages, omissions, promises, and any and all claims and liabilities whatsoever, of every name and nature, known or unknown, suspected or unsuspected, both in law and equity (“Claims”), which Executive ever had, now has, or may hereafter claim to have against the Releasees by reason of any matter or cause whatsoever arising from the beginning of time to the time he signs this Agreement (the “General Release”).  This General Release of Claims shall apply to any Claim of any type, including, without limitation, any and all Claims of any type that Executive may have arising under the common law, under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Older Workers Benefit Protection Act, the Americans With Disabilities Act of 1967, the Family and Medical Leave Act of 1993, the Employee Retirement Income Security Act of 1974, and the Sarbanes-Oxley Act of 2002, each as amended, and any other federal, state, local or foreign statutes, regulations, ordinances or common law, or under any policy, agreement, contract, understanding or promise, written or oral, formal or informal, between any of the Releasees and Executive, and shall further apply, without limitation, to any and all Claims in connection with, related to or arising out of Executive’s employment relationship, or the termination of his employment, with the Company.
    (b)    For the purpose of implementing a full and complete release, Executive understands and agrees that this Agreement is intended to include all claims, if any, which Executive or his heirs, executors, devisees, successors and assigns may have and which Executive does not now know or suspect to exist in his favor against the Releasees, from the beginning of time until the time he signs this Agreement, and this Agreement extinguishes those claims.
    (c)    In consideration of the promises of the Company set forth in the Employment Agreement, Executive hereby releases and discharges the Releasees from any and all Claims that Executive may have against the Releasees arising under the Age Discrimination Employment Act of 1967, as amended, and the applicable rules and regulations promulgated thereunder (“ADEA”).  Executive acknowledges that he understands that the ADEA is a federal statute that prohibits discrimination on the basis of age in employment, benefits and benefit plans.  Executive also understands that, by signing this Agreement, he is waiving all Claims against any and all of the Releasees.
    (d)    This General Release shall not apply to (i) any obligation of the Company pursuant to the Employment Agreement, (ii) any benefit to which Executive is entitled under any tax qualified pension plan of the Company or its affiliates, COBRA continuation coverage benefits, vested benefits under other benefit plans of the Company or its affiliates or any other welfare benefits required to be provided by statute, (iii) any claim related to acts, omissions or events occurring after the date this Agreement is signed by Executive and (iv) any right as a former employee of the Company that Executive may have to indemnification under the bylaws of the Company or under any directors and officers liability insurance policy then applicable to him.
Capitalized words not otherwise defined herein have the meanings assigned thereto in the Employment Agreement.
2.    Consultation with Attorney; Voluntary Agreement.  The Company advises Executive to consult with an attorney of his choosing prior to signing this Agreement.  Executive understands and agrees that he has the right and has been given the opportunity to review this Agreement and, specifically, the General Release in Section 1 above, with an attorney.  Executive also understands and agrees that he is under no obligation to consent to 

the General Release set forth in Section 1 above.  Executive acknowledges and agrees that the payments to be made to Executive pursuant to the Employment Agreement are sufficient consideration to require him to abide with his obligations under this Agreement, including but not limited to the General Release set forth in Section 1.  Executive represents that he has read this Agreement, including the General Release set forth in Section 1, and understands its terms and that he enters into this Agreement freely, voluntarily, and without coercion.
3.    Effective Date; Revocation.  Executive acknowledges and represents that he has been given at least 21 days during which to review and consider the provisions of this Agreement and, specifically, the General Release set forth in Section 1 above.  Executive further acknowledges and represents that he has been advised by the Company that he has the right to revoke this Agreement for a period of seven days after signing it.  Executive acknowledges and agrees that, if he wishes to revoke this Agreement, he must do so in a writing, signed by him and received by the Company no later than 5:00 p.m. Eastern Time on the seventh day of the revocation period.  If no such revocation occurs, the General Release and this Agreement shall become effective on the eighth day following his execution of this Agreement.
4.    Severability.  In the event that any one or more of the provisions of this Agreement are held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remainder of this Agreement shall not in any way be affected or impaired thereby.
5.    Waiver.  No waiver by either party of any breach by the other party of any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of any other provision or condition at the time or at any prior or subsequent time.
6.    Governing Law.  This Agreement and the implementation of it shall be subject to and governed by the laws of the State of Florida applicable to contracts fully executed and performed in such State.
EXECUTIVE:

        
Stephen J. Donaghy

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