Document:

Exhibit 10.1

 

Esports Entertainment Group, Inc.

170 Pater House, Psaila Street

Birkirkara, Malta, BKR 9077

 

November ___, 2019

 

VIA ELECTRONIC MAIL

 

Re: Waiver Letter – Securities
Purchase Agreement and related documents

 

You are being sent this letter (this “Letter
Agreement”) as an investor (“Investor”) in the November 2018 bridge offering (the “Offering”) conducted
by Esports Entertainment Group, Inc. (the “Company”) pursuant to a securities purchase agreement (the “Securities
Purchase Agreement”), whereby the Company sold 5% Senior Convertible Notes (the “Notes”) and warrants to purchase
common stock of the Company (the “Warrants” and together with the Securities Purchase Agreement and the Notes, the
“Offering Documents”).

 

Pursuant to waiver agreements executed
and delivered in July, 2019 (the “July Waiver Agreement”), all Investors in the Offering agreed to, inter alia: (i)
allow the Company to raise additional capital in an amount up to $1,000,000, in a new offering of notes and warrants having terms
not more favorable to investors than those of the Offering (the “New Offering”) and ii) waive compliance with certain
items and potential defaults as described therein.

 

As you are aware, the Company is currently
in the process of pursuing a public offering of its securities to raise up to $11,500,000 (the “Underwritten Offering”)
and list its securities onto the NASDAQ (the “Uplisting”). The Company has filed a registration statement on Form S-1
(the “Registration Statement”) related to the Underwritten Offering which is being led by Maxim Group LLC and Joseph
Gunnar & Co (together the “Underwriters”). The Company believes that the Underwritten Offering and Uplisting
are in the best interests of our Company and its stockholders. If the Company’s securities are listed on NASDAQ, the
Company believes that the liquidity in the trading of our Common Stock could be significantly enhanced, which could result in an
increase in the trading price and may encourage investor interest and improve the marketability of its Common Stock to a broader
range of investors.

 

In order to facilitate a successful Underwritten
Offering and Uplisting, all Investors in the Offering are being requested to (i) extend the Maturity Date of the Notes to February
14, 2020 (the “Maturity Date Extension”) and (ii) waive through the date hereof any and all defaults known or unknown
with respect to the Company’s compliance with any covenant or agreement contained in any of the Offering Documents (the “Waiver”).
The Maturity Date Extension and Waiver are collectively referred to herein as the “Extension and Waiver”).

 

In consideration for your entering into
this Letter Agreement and agreeing to the Extension and Waiver, the Company has agreed to issue to each Investor an additional
Warrant (the “Additional Warrant”) to purchase such number of shares of the Company’s Common Stock equal to 5%
of the Warrant Shares initially issuable to such Investor under the Warrant issued to such Investor in the Offering. The Additional
Warrant shall have an exercise price of $0.75 per share and shall be in form substantially the same as the Warrants issued in the
Offering, provided that no cashless provision, ratchet provision or piggyback registration provisions shall be contained in the
Additional Warrants.

 

By your execution below, this Letter Agreement
shall serve as written confirmation that you have agreed to the Waiver and Extension contained herein.

 

     

     

    

 

This Letter Agreement and any and all exhibits
hereto contain the entire understanding between and among the parties and supersedes any prior understandings and agreements among
them respecting the subject matter of this Letter Agreement. This Letter Agreement shall be governed and have exclusive jurisdiction
as provided under Section 5.10 of the Securities Purchase Agreement. This Letter Agreement may be executed in any number of counterparts,
each of which shall be an original but all of which together shall constitute one and the same instrument. In case any provision
of this Letter Agreement shall be held to be invalid, illegal or unenforceable, such provision shall be severable from the rest
of this Letter Agreement, and the validity legality and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby. By your execution below, you are confirming that you have had the opportunity to review this Letter Agreement
with your counsel

 

The parties hereby consent and agree that
if this Letter Agreement shall at any time be deemed by the parties for any reason insufficient, in whole or in part, to carry
out the true intent and spirit hereof or thereof, the parties will execute or cause to be executed such other and further assurances
and documents as in the reasonable opinion of the parties may be reasonably required in order more effectively to accomplish the
purposes of this Letter Agreement.

  

Please indicate confirmation of the terms
provided herein by executing and returning this letter in the space provided below.

 

	 	Very truly yours,
	 	 	 
	 	ESPORTS ENTERTAINMENT GROUP, INC.
	 	 	 
	 	By:	 
	 	 	Grant Johnson
	 	 	Chief Executive Officer

 

ACCEPTED AND AGREED:

 

INVESTOR: 

 

	For Individuals	 	For Entities
	 	 	 
	 	 	 
	Name of Investor	 	Name of Investor
	 	 	 
	 	 	 
	Signature of Investor	 	Signature of Authorized Person
	 	 	 
	 	 	 
	 	 	Print Name of Authorized Person
	 	 	 
	 	 	 
	 	 	Print Title of Authorized PersonExhibit (10)(a)

    

    

    

    

    

    

    Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm

    

    

    

    

    We consent to the reference to our firm under the caption “Independent Registered Public Accounting Firm” in Post-Effective Amendment No. 73 to the 1933 Act
      Registration Statement (Form N-4 No. 333-36304) and Amendment No. 733 to the 1940 Act Registration Statement (Form N-4 No. 811-08517), and to the use therein of our reports dated (a) March 13, 2019, with respect to the consolidated financial
      statements of The Lincoln National Life Insurance Company and (b) April 16, 2019, with respect to the financial statements of Lincoln Life Variable Annuity Account N for the registration of interests in a separate account
      under individual flexible payment deferred variable annuity contracts.

    

    

    /s/ Ernst & Young, LLP

    

    

    

    

    

    Philadelphia, Pennsylvania

    December 20, 2019Exhibit 10b

  

  

  POWER OF ATTORNEY

  

  

  We, the undersigned directors and/or officers of The Lincoln National Life Insurance Company, hereby constitute and appoint Delson R. Campbell, Scott C. Durocher, Kimberly A. Genovese, Daniel P. Herr, Donald E. Keller, Michelle Grindle,  Jeffrey L. Smith, Jassmin McIver-Jones, Carolyn Augur and John D. Weber,  individually, our true and lawful
    attorneys-in-fact, with full power to each of them to sign for us, in our names and in the capacities indicated below, any Registration Statements and any and all amendments to Registration Statements; including exhibits, or other documents filed on
    Forms N-6, N-4 or S-3 or any successors or amendments to these Forms, filed with the Securities and Exchange Commission, under the Securities Act of 1933 and/or Securities Act of 1940, on behalf of the Company in its own name or in the name of one of
    its Separate Accounts, hereby ratifying and confirming our signatures as they may be signed by any of our attorneys-in-fact to any such amendments to said Registration Statements as follows:

  

  

  Variable Life Insurance Separate Accounts:

      

  

  
    
      

  

  	
          Account

        	
          Product name

        
	
          Lincoln Life Flexible Premium Variable Life Account D (811-04592)

        	
          Variable Universal Life Leadership Series

        
	
          Lincoln Life Flexible Premium Variable Life Account F (811-05164)

        	
          American Legacy Life

          American Legacy Estate Builder

        
	
          Lincoln Life Flexible Premium Variable Life Account G (811-05585)

        	
          VUL-III

        
	
          Lincoln Life Flexible Premium Variable Life Account J (811-08410)

        	
          American Legacy Variable Life

        
	
          Lincoln Life Flexible Premium Variable Life Account K (811-08412)

        	
          Multi Fund Variable Life

        
	
          Lincoln Life Flexible Premium Variable Life Account M (811-08557)

        	
          VULdb / VULdb ES

          VULdb-II ES

          VUL-I / VULcv

          VULcv-II / VULcvII ES / VUL Flex

          VULcv-III ES

          MoneyGuard VUL

          VULone ES / VULone 2005 ES

          Momentum VULone / Momentum VULone 2005

          VULcv-IV ES

          VULdb-IV ES

          Momentum VULone 2007

          VULone 2007

          AssetEdge VUL

          AssetEdge VUL2015/AssetEdge Exec VUL 2015

          VULone2012

          VULone2014

          InReach VULone2014

          VULone2019

          AssetEdge VUL2019/AssetEdge Exec VUL 2019

          AssetEdge VUL2019-2/AssetEdge Exec VUL 2019-2

        
	
          Lincoln Life Flexible Premium Variable Life Account R (811-08579)

        	
          SVUL / SVUL-I

          SVUL-II / SVUL-II ES

          SVUL-III ES

          SVUL-IV ES / PreservationEdge SVUL

          SVULone ES

          Momentum SVULone

          SVULone 2007 ES

          Momentum SVULone 2007

          SVULone2013

          SVULone2016

          SVULone2019

        
	
          Lincoln Life Flexible Premium Variable Life Account S (811-09241)

        	
          CVUL / CVUL Series III / CVUL Series III ES

          LCV4 ES

          LCV5 ES / LCC VUL

          Lincoln Corporate Executive VUL

        
	
          Lincoln Life Flexible Premium Variable Life Account Y (811-21028)

        	
          American Legacy VULcv-III

          American Legacy VULdb-II

          American Legacy SVUL-II

          American Legacy SVUL-III

          American Legacy VULcv-IV

          American Legacy VULdb-IV

          American Legacy SVUL-IV/PreservationEdge SVUL

          American Legacy AssetEdge

        

  

  

  

  

  Variable Annuity Separate Accounts:

  

  

  	
          Account

        	
          Product name

        
	
          Lincoln National Variable Annuity Account C (811-03214)

        	
          Multi-Fund

          Multi-Fund Select

          Multi-Fund 5 Retirement Annuity

        
	
          Lincoln National Variable Annuity Account E (811-04882)

        	
          The American Legacy

        
	
          Lincoln National Variable Annuity Account H (811-05721)

        	
          American Legacy II

          American Legacy III

          American Legacy III B Class

          American Legacy III C Share

          American Legacy III Plus

          American Legacy III View

          American Legacy Design

          American Legacy Signature

          American Legacy Fusion

          American Legacy Series

          American Legacy Advisory

          American Legacy Target Date Income B Share

          American Legacy Target Date Income Advisory

          Shareholder’s Advantage

          Shareholder’s Advantage A Class

          Shareholder’s Advantage purchased on and after May 21, 2018

        
	
          Lincoln National Variable Annuity Account L (811-07645)

        	
          Group Variable Annuity

          Secured Retirement Income Version 1

          Secured Retirement Income Version 2

          Secured Retirement Income Version 3

          Secured Retirement Income Version 4

          Retirement Income Rollover Version 1

          Retirement Income Rollover Version 2

          Retirement Income Rollover Version 3

          Retirement Income Rollover Version 4

        
	
          Lincoln Life Variable Annuity Account N (811-08517)

        	
          ChoicePlus Assurance (A Share)

          ChoicePlus Assurance (A Class)

          ChoicePlus Assurance (B Share)

          ChoicePlus Assurance (B Class)

          ChoicePlus Assurance (C Share)

          ChoicePlus Assurance (L Share)

          ChoicePlus Assurance (Bonus)

          Choice Plus

          Choice Plus II

          ChoicePlus Access

          ChoicePlus II Access

          ChoicePlus Bonus

          ChoicePlus II Bonus

        
	
          Lincoln Life Variable Annuity Account N (811-08517) Continued

        	
          ChoicePlus II Advance

          ChoicePlus Design

          ChoicePlus Signature

          ChoicePlus Rollover

          ChoicePlus Fusion

          ChoicePlus Series

          ChoicePlus Prime

          ChoicePlus Advisory

          InvestmentSolutions

          InvestmentSolutions RIA

          Lincoln Investor Advantage

          Lincoln Invester Advantage 2018

          Lincoln Investor Advantage Fee-Based

          Lincoln Investor Advantage RIA

          Lincoln Investor Advantage Advisory

          Lincoln Investor Advantage RIA Class

          Lincoln Level Advantage B Share Indexed Variable Annuity

          Lincoln Level Advantage Advisory Indexed Variable Annuity

          Lincoln Level Advantage B Class Indexed Variable Annuity

          Lincoln Level Advantage Advisory Class Indexed Variable Annuity

          Lincoln Level Advantage Fee-Based Indexed Variable Annuity

          Lincoln Level Advantage Select B-Share Indexed Variable Annuity

          Core Income

        
	
          Lincoln Life Variable Annuity Account Q (811-08569)

        	
          Multi-Fund Group

        
	
          Lincoln Life S-3 Filing

        	
          Lincoln Level Advantage B Share Indexed Variable Annuity

          Lincoln Level Advantage Advisory Indexed Variable Annuity

          Lincoln Level Advantage B Class Indexed Variable Annuity

          Lincoln Level Advantage Advisory Class Indexed Variable Annuity

          Lincoln Level Advantage Fee-Based Indexed Variable Annuity

          Lincoln Level Advantage Select B Share Indexed Variable Annuity

        

  

  

  Except as otherwise specifically provided herein, the power-of-attorney granted herein shall not in any manner revoke in whole or in part any power-of-attorney that
    each person whose signature appears below has previously executed.  This power-of-attorney shall not be revoked by any subsequent power-of-attorney each person whose signature appears below may execute, unless such subsequent power specifically refers
    to this power-of-attorney or specifically states that the instrument is intended to revoke all prior general powers-of-attorney or all prior powers-of-attorney.

  

  

  This Power-of-Attorney may be executed in separate counterparts each of which when executed and delivered shall be an original; but all such counterparts shall
    together constitute one and the same instrument.  Each counterpart may consist of a number of copies, each signed by less than all, but together signed by all, of the undersigned.

  

  

  Signature                                                                                    Title

  

  

  

  

  /s/Dennis R. Glass

  
    
      	______________________________	
              President, Chairman and Director

            

    

  

  Dennis R. Glass

  

  

  

  

  /s/Ellen Cooper

  
    
      	______________________________	
              Executive Vice President, Chief Investment Officer

            

    

  

  Ellen Cooper                                                                                    and Director

  
    
      

  

  

  

  /s/Randal J. Freitag

  
    
      	______________________________	
              Executive Vice President; Chief Financial Officer and Director

            

    

  

  Randal J. Freitag

  

  

  

  

  /s/Leon E. Roday

  
    
      	______________________________	
              Executive Vice President, General Counsel and Director

            

    

  

  Leon E. Roday

  

  

  

  

  /s/Wilford H. Fuller

  
    
      	______________________________	
              Executive Vice President and Director

            

    

  

  Wilford H. Fuller

  

  

  

  

  /s/Keith J. Ryan

  ______________________________                                       
    Vice President and Director

  Keith J. Ryan

  

  

  

  

  

  

  We, Delson R. Campbell, Scott C. Durocher, Kimberly A. Genovese, Daniel P. Herr, Donald E. Keller, Michelle Grindle, Jeffrey L. Smith, Jassmin McIver-Jones,
    Carolyn Augur and John D. Weber, have read the foregoing Power of Attorney. We are the person(s) identified therein as agent(s) for the principal named therein.  We acknowledge our legal responsibilities.

  

  

  /s/Delson R. Campbell                                                                                                                              /s/Scott C. Durocher

  ____________________________________                      _____________________________________

  Delson R. Campbell                                                                                                                              Scott C. Durocher

  

  

  /s/Kimberly A. Genovese                                                                                                                /s/Daniel P. Herr

  ____________________________________                        _____________________________________

  Kimberly A. Genovese                                                                                                                              Daniel P. Herr

  

  

  /s/Donal E. Keller                                                                                                                /s/Michelle Grindle

  ____________________________________                       _____________________________________

  Donald E. Keller                                                                                                                Michelle Grindle

  

  

  /s/Jeffrey L. Smith                                                                                                                /s/John D. Weber

  _____________________________________                       _____________________________________

  Jeffrey L. Smith                                                                                                                              John D. Weber

  

  

  /s/Jassmin McIver-Jones                                                                                                                /s/Carolyn Augur

  _____________________________________                       _____________________________________

  Jassmin McIver-Jones                                                                                                                              Carolyn Augur

  

  

  

  

  

  

  

  

  

  

  Version dated: October 2019

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