Document:

Exhibit
10.9

 

	[***]	Certain
information in this document has been excluded pursuant to Regulation S-K, Item (601)(b)(10). Such excluded information is not
material and would likely cause competitive harm to the registrant if publicly disclosed.

 

LICENSE
AGREEMENT

 

This
LICENSE AGREEMENT (this “Agreement”) is entered into effective as of May 29, 2020 (the “Effective
Date”), by and between:

 

(i)
BARC (TOCA) LIMITED, a private limited company incorporated and registered in England and Wales with company number 05246427 whose
registered office is at Thruxton Motor Racing Circuit, Thruxton, Andover, SP11 8PN (“Licensor”), and

 

(ii)
MOTORSPORT GAMING US LLC, a Florida limited liability company whose registered office is at 5972 NE 4th Avenue, Miami, Florida
33137, U.S.A. (“Licensee”).

 

Licensor
and Licensee are hereinafter referred to collectively as the “Parties” or individually as a “Party.”

 

WHEREAS:

 

A.
Licensor has the exclusive right to exploit, license and sub-license the Licensed IP during the Term (as defined below);

 

B.
Licensee manufactures, develops, operates, markets, publicizes and distributes Products (as defined below); and

 

C.
Licensee desires to develop certain Products using and/or bearing, subject to the terms and conditions set forth in this Agreement,
the Licensed IP.

 

NOW,
THEREFORE, in consideration of the obligations set forth herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.
License Grant; Royalty; Payment Schedules.

 

1.1
Subject to the terms and conditions of this Agreement, Licensor hereby grants Licensee:

 

(a)
an exclusive, worldwide license to use during the Term (as defined in Section 6.1 of this Agreement) the Licensed IP for the Products,
including the Products’ development, manufacturing, marketing, publicity, advertisement, promotion, distribution, publicizing,
broadcasting, streaming, making available and/or selling worldwide, continued commercial exploitation of the Products, including
the right to use, modify and improve the Products developed using the Licensed IP;

 

(b)
For the purposes of this Agreement:

 

“Championship”
means the British Touring Car Championship during the Term being a motorsport championship staged and promoted by the Licensor
under license from the Royal Automobile Club Motor Sport Association Limited (“Motorsport UK”).

 

“Licensed
IP” means collectively the “British Touring Car Championship,” “BTCC” and (inso far only as
this is included in the title of the Championship) title sponsor logos (including the logos set forth on Annex A
attached to this Agreement), the title “British Touring Car Championship,” and “BTCC” together with
the right to incorporate in its representation of the Championship within the Products the following in so far as they relate
to and form part of the Championship during the relevant year and are clearly used in that context: races, tracks, compounds,
technical requirements, teams, race formats, race reports, race standings, other statistics, lap records, race grids,
trophies, drivers, components, racing physics, tournament structures, racing conditions, artwork (including in digital form),
events, copyrights, trade dress, names, likenesses, primary and special paint schemes, vehicle designs, visual
representations, helmets, uniforms, photographs and accessories and their respective non-English language equivalents or
permutations thereof, together with such other logos, expressions, marks, themes, races, tracks, compounds, technical
requirements, teams, race formats, race reports, race standings, race grids, trophies, drivers, components, racing physics,
tournament structures, artwork (including in digital form), events, copyrights, trade dress, names, likenesses, primary and
special paint schemes, vehicle designs, visual representations, helmets, uniforms, photographs and accessories as the
Licensor may develop from time to time during the Term as part of the Championship.

 

    	 

     

    

 

“Products”
means collectively the motorsports and/or racing (including, without limitation, simulation style) video gaming products relating
to, themed as or containing the Championship on Sony PlayStation, Microsoft Xbox, PC, iPhone, Android and other mobile applications
and other new generation formats, Esports series related to and/or themed as or containing the Championship and related features,
including, without limitation, Esports events, platforms (including Licensee’s Esports web platform), content, reports,
standings, competitions, tournaments, campaigns, promotions, video and/or gaming reenactments, “highlight” creation
and distribution of big moments from Championship races.

 

“Esports”
shall mean a form of multiplayer competition using video games, primarily between competitive gamers that includes the ability
to perform in front of an audience, whether through an online platform, broadcasted on television, or at a physical event.

 

“Sell
Off Period” has the meaning set out in Section 6.5.

 

1.2
The Parties agree that Licensee’s use of Licensed IP hereunder, including the goodwill arising from such use, shall inure
to the benefit of Licensor, and Licensee shall have no right whatsoever to Licensed IP (except the limited license rights as specifically
set forth herein). Licensee agrees:

 

(a)
to not use Licensed IP except as specifically set forth herein;

 

(b)
to not affix or include any other third-party logos or marks without the Licensor’s prior written consent (which shall not
be unreasonably withheld or delayed);

 

(c)
to include a notice that the Product is produced under license and copyright notice in a form agreed by the Licensor (such agreement
not to be unreasonably withheld or delayed);

 

(d)
not begin to manufacture, permit a sub licensee to begin manufacture or sell or distribute any Product without obtaining the Licensor’s
approval in respect of the initial concept and for the samples of the Product in accordance with Section 5 and otherwise complying
with the obligations under Section 5.

 

1.3
Licensee shall not at any time do or cause to be done any act or thing contesting or in any way impairing or tending to impair
any part of Licensor’s right, title, and interest respecting Licensed IP. Licensee shall not in any manner represent that
it has any ownership in Licensed IP, and Licensee acknowledges that its use and development of Licensed IP shall not create in
Licensee’s favor any right, title, or interest in or to Licensed IP.

 

1.4
The Licensee undertakes to ensure that its advertising, marketing and promotion of Products shall incorporate the title of the
Championship and shall in no way reduce or diminish the reputation, image and prestige of the Licensor, the sponsors of the Licensor,
Motorsport UK, the Licensed IP or the Championship (including the teams, drivers and/or driver, team and venue sponsors involved
with the Championship from time to time).

 

1.5
Licensee shall not pledge its rights to Licensed IP as security for any of Licensee’s debts or any other purpose, or allow
any third party to have rights in Licensed IP or rights related to this Agreement without the prior written consent of Licensor
and (in the case of sub licensees) in accordance with Section 1.6 below.

 

    	 

     

    

 

1.6
The Licensee shall have the right to grant sub-licenses of the Licensed IP for the Products provided that:

 

(a)
the Licensee obtains the prior written consent of the Licensor;

 

(b)
the Licensee shall ensure that the terms of any sub-license are in writing and are substantially the same as the terms of this
Agreement (except that the sub licensee shall not have the right to sub-licence its rights) and the Licensee shall provide the
Licensor with a copy of the sub-license for approval before signing it;

 

(c)
all sub licenses granted shall terminate automatically on termination or expiry of this Agreement;

 

(d)
the Licensee shall be liable for all acts and omissions of any sub licensee and shall indemnify the Licensor against all costs,
expenses, claims, loss or damage incurred or suffered by the Licensor, or for which the Licensor may become liable (including
any economic loss or other loss of profits, business or goodwill), arising out of any act or omission of any sub licensee, including
any product liability claim relating to Licensed Products manufactured, supplied or put into use by the sub-licensee; and

 

(e)
any sub licensee shall first enter into a supplemental agreement direct with the Licensor in a form satisfactory to the Licensor.

 

1.7
As consideration for the license set forth in this Agreement, Licensee shall pay Licensor a fee (“the Initial Fee”)
of U.S. [***] (which amount is guaranteed and non refundable) and beginning from the earlier of (i) 60 days after the release
of the products in accordance with Section 2.1(a) and (ii) the date that is two years after the Effective Date an annual (for
each 12-month period of the Term) royalty (the “Royalty”) in the amount of the higher of:

 

(a)
U.S. [***] per each 12-month period of the Term (the “Minimum Guaranteed Annual Payment”) which amount is guaranteed
and is non-refundable; and

 

(b)
the amount equal to (i) [***] of Adjusted Gross Annual Sales (as defined below) of physical boxed video games Products themed
as or containing Licensed IP together with (ii) [***] of Adjusted Gross Annual Sales of digitally sold and distributed video games
Products themed as or containing Licensed IP and accompanying content and game add-ons associated with the Licensed IP.

 

“Adjusted
Gross Annual Sales” means, with respect to a Product, the dollar amount of gross sales of such Product during an applicable
12-month period less the aggregate dollar amount of all reasonable Distribution Fees properly and necessarily incurred in and
directly attributable to such sales of the Products, all provisions and discounts reasonably granted for the Products provided
these are granted on an arms-length basis.Where the Licensee has granted any sub licence pursuant to Section 1.6 the Licensee
shall include in its royalty payments, payments in respect of all sales of the Products carried out by or on behalf of the sub
licensee and shall include records of such activities in the records it keeps and the statements it submits to the Licensor in
accordance with this Agreement.

 

“Distribution
Fees” means platform holder fees and boxed fees but shall not include expenses related to the general overhead expenses
of the Licensee, or (unless expressly agreed in writing by the Licensor) any charges or fees payable to any associated or connected
company or company within the same group as the Licensee. Any increase to Distribution Fees above a cap of 30% of the wholesale
price of the Products shall be subject to the prior agreement of the Licensor PROVIDED that no consent shall be necessary in relation
to an increase in third party platform fees that is imposed on an arms length basis and is necessarily incurred for the Products,
subject to the Licensor promptly receiving prior notification and full details of any such increase.

 

1.8
The Licensee shall not distribute the Products other than by way of arms-length sales. Any promotional give away of Products or
discounted sales and bundling shall be limited to an amount agreed in writing by the Licensor (such agreement not to be unreasonably
withheld or delayed).

 

    	 

     

    

 

1.9
All payments made by the Licensee under this Agreement are exclusive of VAT or other sales tax, which if payable shall be payable
to the Licensor in addition. All royalties shall be paid free and clear of all deductions and withholdings unless such deduction
or withholding is required by law. If any deduction or withholding is required by law the Licensee shall pay to the Licensor such
sum as will, after the deduction or withholding has been made, leave the Licensor with the same amount as it would have been entitled
to receive in the absence of any requirement to make a deduction or withholding.

 

1.10
With respect to the Initial Fee, the first U.S. [***] installment of the fee for that period shall be payable seven (7) days after
the Effective Date and the balance (i.e., U.S. [***]) shall be payable on the earlier of:

 

(i)
60 days after the release of the Products in accordance with Section 2.1(a); and

 

(ii)
The date that is two years from the Effective Date.

 

1.11
For each subsequent 12-month period of the Term, Licensee shall pay Licensor the Royalty as follows:

 

(a)
the entire Minimum Guaranteed Annual Payment for such period (i.e., U.S. [***]) shall be payable on the last business day of September
in each such 12-month period of the Term), and

 

(b)
to the extent the Royalty calculated pursuant to Section 1.7 of this Agreement for any 12- months period of the Term exceeds the
Minimum Guaranteed Annual Payment related to the applicable 12-month period of the Term that has already been paid by Licensee
to Licensor, the amount of such excess shall be payable to the Licensor within sixty (60) days of the end of each 12 month period
of the Term.

 

1.12
Payments details:

 

	 	(a)	All
    payments shall be remitted by Licensee to Licensor to: 
	 	 	 
	 	 	[OMITTED]
	 	 	Sort
    Code: [OMITTED]
	 	 	Account
    Number: [OMITTED]
	 	 	Account
    Name: [OMITTED]
	 	 	 
	 	 	IBAN:
    [OMITTED]
	 	 	41
    SWIFTBIC: [OMITTED]

 

and
for the purpose clarification, all payments shall be made in United States Dollars.

 

1.13
At the same time as payment of the Royalty falls due (including upon termination and during any Sell off Period under Section
6.5), the Licensee shall submit or cause to be submitted to the Licensor a statement in writing recording the calculation of such
Royalty payable, and in particular:

 

(a)
the period for which the Royalty was calculated;

 

(b)
the number of Products sold or distributed during that period;

 

(c)
the number of Products manufactured during that period but not yet sold or distributed;

 

(d)
the gross sales price of each Product sold during the period, together with any returns, with details and evidence of any deductions
which have been made from the gross price appended;

 

    	 

     

    

 

(e)
the amount of royalties due and payable or which would, but for any recoupment of the Minimum Guaranteed Annual Payment, have
been payable;

 

(f)
the amount of any withholding or other income taxes deductible or due to be deducted from the amount of royalties due and payable;
and

 

(g)
any other particulars the Licensor may reasonably require.

 

1.14
The Licensee acknowledges that for the purpose of calculating the Royalty due to the Licensor any Distribution Fees or other deductions
from the gross sales shall be invalid unless the Licensee has provided documentary evidence of them to the satisfaction of the
Licensor

 

1.15
In the event of any delay in paying any sum due under this Agreement by the due date, and in addition and without prejudice to
the exercise of any other remedy of the Licensor, the Licensee shall pay to the Licensor interest (calculated on a daily basis
and compounded monthly) on the overdue payment from the date such payment was due to the date of actual payment at a rate of 2%
over the base lending rate of Barclays Bank PLC from time to time.

 

1.16
The Licensee shall keep proper records and books of account in accordance with generally accepted accounting principles with respect
to all transactions relating to this Agreement. Such records and books shall be kept separate from any records and books not relating
solely to the Products and be open during normal business hours to inspection and audit by the Licensor (or its authorized representative),
who shall be entitled to take copies of or extracts from the same. Such right of inspection of the Licensor shall remain in effect
for a period of three years after the termination or expiry of this Agreement. If an inspection or audit should reveal a discrepancy
in the Royalty paid from those payable under this agreement the Licensee shall immediately make up the shortfall, with interest
calculated under Section 1.15, and reimburse the Licensor in respect of any professional charges incurred for such audit or inspection.

 

1.17
the Licensor may require the Licensee at any time during the Term or within three years of termination or expiry of this Agreement,
by a request in writing, to provide it, within 30 days, at the Licensee’s expense, with a detailed statement by an independent
certified public accountant showing the number, description, gross sale price, deductions and Adjusted Gross Annual Sales of the
Products sold by the Licensee up to the date of the request, and any further sums found due shall be paid immediately with interest
calculated under Section 1.15.

 

2.
Release of Products and Additional Deliverable.

 

2.1
The Licensee shall:

 

(a)
release and start to sell the Products to the general public in the UK within two years of the Effective Date, such Products to
have been approved by the Licensor in accordance with clause 5 and otherwise to meet the requirements of this Agreement. If the
Licensee fails to meet this requirement then the Licensor shall have the right to terminate this Agreement in whole or in part
in accordance with Section 6.2(b); and

 

(b)
Use all reasonable endeavors to promote and expand the supply of Products throughout the Territory on the maximum possible scale
and shall provide such advertising and publicity as may reasonably be expected to bring the Products to the attention of as many
potential purchasers as possible.

 

2.2
Not later than the date that is 30 days after the release of the Products for sale to general public, Licensee shall make available
to Licensor aggregate 200 copies of the video games branded with the Licensed IP and using the Licensed IP content free of charge
(such 200 copies to be divided equally across the three platform, PlayStation, Xbox and PC; the Licensor shall use at least 50%
of such copies to supply BTCC teams and drivers).

 

3.
Maintenance and Renewals. Licensor may seek registration of Licensed IP, and Licensee shall (at Licensor’s cost)
provide reasonable assistance to Licensor such as providing specimens of use of trademarks, copyright deposits, and reasonably
cooperating with Licensor to register Licensed IP.

 

    	 

     

    

 

4.
Enforcement. Licensee shall reasonably promptly inform Licensor in writing of any potential infringement relating to Licensed
IP after becoming aware of any such potential infringement. Should Licensor believe that a third party is infringing Licensed
IP, Licensor shall make a reasonable determination as to whether to not to file suit or any other type of action or proceeding
against that third party. Should Licensor file suit or another type of action, Licensor may join Licensee as a party to such suit
or action and Licensee shall provide reasonable assistance to Licensor in any such action but shall not be obliged to incur any
third party costs in so doing.

 

5.
Quality Control.

 

5.1
The Licensee shall ensure that the Products and all packaging:

 

	 	(a)	comply
    with all applicable law, rules, regulations, safety standards and codes of practice;
	 	 	 
	 	(b)	are
    of a quality and standard equal to good industry standard;
	 	 	 
	 	(c)	are
    not defective in terms of workmanship, materials or otherwise.

 

5.2
The Licensee shall provide the Licensor for each Product and its packaging provide to the Licensor for the Licensor’s prior
written approval (such approval not to be unreasonably withheld or delayed):

 

	 	(a)	The
    initial concept;
	 	 	 
	 	(b)	if
    the initial concept is approved, one pre-production sample with packaging; and
	 	 	 
	 	(c)	a
    final production sample of the Product with packaging.

 

For
the avoidance of doubt any approval given by the Licensor shall not constitute a waiver of the rights of the Licensor or the Licensee’s
obligations and duties under this Agreement.

 

5.3
If the initial concept or samples provided under Section 5.2 are not approved by the Licensor the Licensee shall make such modifications
as may reasonably be required by the Licensor and re submit such samples to the Licensor for its approval (such approval not to
be unreasonably withheld or delayed). The Licensee shall not materially alter or amend the Product or its packaging that are approved
for production by the Licensor pursuant to this Section 5 without first obtaining the written approval of the Licensor in accordance
with Section 5.2.

 

5.4
The Licensee shall on the Licensor’s request provide the Licensor with details of any complaints it has received in relation
to the Products together with a report on the steps taken or being taken to resolve and fully address such complaints. Any complaints
raising or potentially raising any issue of safety shall be reported to the Licensor (without a request from the Licensor being
necessary) within ten working days of receipt. The Licensee shall comply with any reasonable directions given by the Licensor
in respect of such complaints.

 

5.5
Licensor and its duly authorized representative(s) shall have the right, during normal business hours upon reasonable advance
notice, to inspect any facility, storage, warehousing, vehicle, ship, aircraft, goods, supplies, and anything else used in connection
with Licensed IP by Licensee in order for Licensor to monitor the quality of the Products being provided by Licensee and to ensure
that the quality of the Products is of the required standard and consistent with the samples provided. Upon Licensor’s written
request, Licensee shall grant Licensor access to individuals or organizations served by Licensee in order for Licensor to monitor
use of Licensed IP accordance with the quality standards and other requirements of this Agreement. If Licensor notifies Licensee
in writing of the disapproval of the quality of Products provided by Licensee in connection with Licensed IP or any misuse of
Licensed IP, Licensee shall take prompt steps as reasonably required by the Licensor to improve such quality and/or to remedy
trademark use.

 

    	 

     

    

 

5.6
Licensee acknowledges and agrees:

 

(a)
that it will use Licensed IP properly as determined by the applicable U.S. and United Kingdom trademark laws;

 

(b)
that the exercise of the licence and worldwide rights granted to the Licensee under this agreement is subject to all applicable
laws, enactments, regulations and other similar instruments, and the Licensee understands and agrees that it shall at all times
be solely liable and responsible for such due observance and performance.

 

5.7
In order to promote the Products the Licensee may display so far as is reasonably required to advertize and establish a link to
the Products, Licensed IP on the Licensee’s and/or the Licensee distributors’ and/or retailers’, websites, on-line
or physical publications, streaming services, game covers of the digitally downloaded games or game add-ons, esports platforms
or social media platforms and/or networking sites. The Licensor may agree from time to time to the Licensee producing a limited
amount of merchandize clearly branded with the Products in order to promote and advertise the Products, the cost of such merchandize
shall be borne by the Licensee and shall not be deductible from any Royalty payable to the Licensor. An additional royalty shall
be paid (in an agreed amount) to the Licensor for any Product merchandize that is sold.

 

6.
Term; Termination.

 

6.1
“Term” means the period starting on the Effective Date and ending on 31st December 2026. In the
event that the Licensor’s agreement with Motorsport UK to promote the Championship is extended the Licensor shall notify
the Licensee of the possibility of an extension of this Agreement, any such extension to be agreed between the Parties, acting
reasonably, which discussions shall (unless otherwise agreed in writing by the Parties) take place no later than 31st
March 2026.

 

6.2
Licensor may terminate this Agreement and revoke the license to Licensed IP in whole or in part immediately on written notice
if Licensee:

 

(a)
files for bankruptcy protection or suspends, or threatens to suspend, payment of its debts or is unable to pay its debts as they
fall due or admits inability to pay its debts, or suspends or ceases, or threatens to suspend or cease, to carry on all or a substantial
part of its business;

 

(b)
breaches Section 2.1(a) or 2.1(b);

 

(c)
fails to pay Licensor the Royalty owed under this Agreement within thirty (30) days of when it becomes due under the terms of
this Agreement;

 

(d)
if the Licensee commits a breach of any other term of this Agreement which breach is irremediable or (if such breach is remediable)
fails to remedy that breach within a reasonable period of time not exceeding 30 days after being notified in writing to do so.

 

Where
a breach is capable of remedy, the Licensee will work diligently and in good faith to ensure that any deficiencies are remedied
within a reasonable period of time (not exceeding 30 days from notification of breach). In the event the deficiencies cannot be
remedied after such good faith effort, Licensor shall have the additional right which may be exercised by it in its absolute and
sole discretion that instead of terminating this Agreement it may terminate this Agreement in part and prohibit Licensee’s
use of the Licensed IP in connection with the portion of the Products not in compliance with this Agreement. In such a termination
of part Sections 6.3, 6.4, 6.5, 6.6 and 6.7 shall apply to the part of the Agreement (or section of Products) that is terminated.

 

6.3
On the effective date of termination of this Agreement pursuant to Sections 6.2:

 

(a)
Licensee shall cease manufacturing or producing the Products and using the Licensed IP content.

 

    	 

     

    

 

(b)
Licensee’s license to use the Licensed IP for any new Products development or manufacturing any new Products shall terminate.

 

(c)
Licensee shall not use the Licensed IP for any products manufactured or produced after the effective date of such termination.

 

(d)
all outstanding Royalty payable and other sums payable by the Licensee to the Licensor including any payments constituting the
Initial Fee and the Minimum Guaranteed Annual Payment shall immediately become due and payable;

 

(e)
the Licensee shall return promptly to the Licensor at the Licensee’s expense all records and copies of Licensed IP in its
possession relating to the Products and all records and copies of any information of a confidential nature communicated to it
by the Licensor;

 

(f)
if no Sell Off Period applies in accordance with Section 6.5 within 90 days of the date of termination the Licensee shall destroy
all Products remaining in the Licensee’s possession or control on the date of termination.

 

6.4
Sixty days before the expiration of this Agreement and again within ten days of the termination or expiration of this Agreement
(as applicable) the Licensee shall provide the Licensor with a statement of the number and description of the Products in the
Licensee’s possession or control (including for the avoidance of doubt those held by sub licensees) (“Final Statement”).

 

6.5
Sell Off Period: On termination of this Agreement other than by reason of termination by the Licensor for the Licensee’s
breach, the Licensee shall for the Sell Off Period, have the right to dispose of all stocks of Products in its possession or control
and all Products in the course of manufacture at the date of termination or expiry (even if not yet marketed, publicized, streamed,
distributed or sold) prior to the effective date of termination of this Agreement provided that:

 

(a)
All Initial Fee, Royalty, Minimum Guaranteed Annual Payments and other sums due to the Licensor under the Agreement have been
paid in full and relevant statements provided to the Licensor to the Licensor’s satisfaction; and

 

(b)
A Royalty shall be payable at the rates set out in Section 1.7(b) in respect of Products disposed of during the Sell Off Period
as if such stocks were supplied at or before the date of termination, provided that Royalties earned during the Sell Off Period
shall not be set against the Minimum Guaranteed Annual Payment. Such Royalty shall be paid within 90 days of the end of the Sell
Off Period with the relevant statement provided in accordance with Section 1.13;

 

(c)
The Licensee has provided the Licensee with a Final Statement in accordance with Section 6.4;

 

(d)
The Licensee shall within 90 days of expiry of the Sell Off Period destroy any Products remaining in the Licensee’s possession
or control (as reconciled against the Final Statement and the numbers of Products disposed of during the Sell Off Period) and
shall provide a certificate of destruction to that effect.

 

“Sell
Off Period” means the period beginning on the date of termination or expiry and ending on the date that is the earlier
of:

 

	 	 	(i)	180
    days after termination or;
	 	 	 	 
	 	 	(ii)	31st
    December 2026.

 

6.6
Any provision of this Agreement that expressly or by implication is intended to come into or to continue in force on or after
termination or expiry of this Agreement shall remain in full force and effect.

 

    	 

     

    

 

6.7
Termination or expiry of this Agreement shall not affect any rights, remedies, obligations or liabilities of the parties that
have accrued up to the date of termination or expiry, including the right to claim damages in respect of any breach of the Agreement
which existed at or before the date of termination or expiry.

 

7.
Liability, Indemnity and Insurance

 

7.1
To the fullest extent permitted by law, the Licensor shall not be liable to the Licensee for any costs, expenses, loss or damage
(whether direct, indirect or consequential and whether economic or other) arising from the Licensee’s exercise of the rights
granted to it under this Agreement save that the Licensor shall indemnify Licensee for costs, expenses losses or damages directly
arising from the licensor’s breach of the warranties set forth in Section 8.2.

 

7.2
The Licensee shall indemnify the Licensor against all liabilities, costs, expenses, damages and losses (including and all interest,
penalties and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses) suffered
or incurred by the Licensor arising out of or in connection with the Licensee’s exercise of the rights granted to it under
this Agreement:

 

(a)
the Licensee’s exercise of the rights granted to it under this Agreement;

 

(b)
the Licensee’s breach or negligent performance or non-performance of this Agreement, including any product liability claim
relating to the Products manufactured, supplied or put into use by the Licensee;

 

(c)
the enforcement of this Agreement; and

 

(d)
any claim made against the Licensor by a third party for death, personal injury or damage to property arising out of or in connection
with defective Products.

 

7.3
An indemnity given by a Party (“the Indemnifying Party”) to the other (“the Indemnified Party”) shall
not apply to any liabilities, costs, expenses, damages or losses incurred by the Indemnified Party as a result of any material
breach by the Indemnified Party of any term of this Agreement, or any act of negligence or wilful misconduct by the Indemnified
Party.

 

7.4
The Licensee shall, at its expense, carry product liability and comprehensive general liability insurance coverage of an amount
adequate to support its liabilities under this Agreement. The Licensee shall ensure that such insurance policy names the Licensor
as co-insured with the Licensee and remains in effect throughout the duration of this agreement and for a period of three years
after termination or expiry of the Agreement, and shall supply the Licensor with a copy of such policy on request.

 

8.
Warranties.

 

8.1
Each Party represents and warrants that it:

 

(a)
is a limited company or a limited liability company (as applicable) duly organized and existing in the jurisdiction in which it
is organized;

 

(b)
has taken all necessary company action on its part to authorize the execution and delivery of this Agreement and the performance
of its obligations hereunder; and

 

(c)
has duly executed and delivered this Agreement which, in turn, constitutes a legal, valid, binding obligation, enforceable against
such Party.

 

8.2
Licensor represents and warrants to Licensee that (a) Licensor is appointed as the sole and exclusive promoter of the Championship
(including the right to exploit the Licensed IP in order to promote and commercially exploit the Championship); (b) Licensor has
as of the Effective Date and shall have at all times during the Term the sole and exclusive right to grant the rights licensed
in respect of the Championship under this Agreement; and (c) the Licensor has not at the date of this Agreement received any notification
that the use of the Licensed IP by Licensee as contemplated by this Agreement would infringe, violate, or otherwise misappropriate
the intellectual property rights of any third party. It is expressly accepted that save for the warranties in this Section 8.2
and such warranties as may not be excluded by law, no warranties are given by the Licensor and all warranties express or implied,
statutory or otherwise are excluded.

 

    	 

     

    

 

9.
Governing Law; Dispute Resolution.

 

9.1
This Agreement shall be governed by and construed in accordance with the laws of the State of Florida, without applying any choice
of law provisions of the State of Florida or any other jurisdiction.

 

9.2
Each of the Parties hereby irrevocably and unconditionally consents to submit to the jurisdiction of the federal courts of the
United States of America located in Miami-Dade County, Florida or, if such federal courts do not have jurisdiction, to the courts
of the State of Florida located in Miami-Dade County, Florida for any litigation arising out of or relating to this Agreement
and the transactions contemplated hereby, and further agrees that service of any process, summons, notice or document by U.S.
certified mail to the Party’s respective address set forth in this Agreement shall be effective service of process for any
litigation brought against the Party in any such court. Each of the Parties irrevocably and unconditionally waives any objection
to the laying of venue of any litigation arising out of this Agreement or the transactions contemplated hereby in the courts of
the United States of America or the State of Florida, in each case located in the Miami-Dade County, Florida, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim that any such litigation brought in any such court has
been brought in an inconvenient forum.

 

9.3
Each of the Parties irrevocably agrees and acknowledges that any judgment (whether issued by a court, arbitrator or other person
or entity) which one Party may have against the other Party, and all other monetary claims which one Party may have against the
other Party, may be enforced in any jurisdiction (whether in the United States, the United Kingdom or other jurisdiction) in which
the Party subject to the monetary obligation has assets.

 

10.
General Provisions.

 

10.1
Each Party undertakes that it shall not at any time during and within five years of the expiry or termination of this Agreement,
disclose to any person any confidential information concerning the business, affairs, customers, sponsors, or suppliers of the
other Party, except as permitted by Section 10.2.

 

10.2
Each Party may disclose the other Party’s confidential information:

 

(a)
To its employees, officers, representatives or advisers who need to know such information for the purposes of carrying out the
Party’s obligations or rights under this Agreement provided that each Party shall procure that such persons to whom it discloses
confidential information shall keep such information confidential as if were a party to this Agreement;

 

(b)
As may be required by law, a court of competent jurisdiction or any government or regulatory authority.

 

10.3
No Party shall use any other Party’s confidential information other than to perform its obligations under this Agreement.
For the avoidance of doubt the Licensor is permitted to publicize its involvement with the Licensee and the Products.

 

10.4
Any notice, demand, or communication required or permitted to be given to a Party by any provision of this Agreement shall be
deemed to have been sufficiently given or served for all purposes if (i) delivered personally, (ii) sent by facsimile or email
set forth below, provided that a confirmation copy is also sent personally or by mail within 24 hours or (iii) sent by registered
or certified mail, postage prepaid, addressed to the Party at the address set forth in the introductory paragraph on page 1 of
this Agreement. Except as otherwise provided herein, any such notice shall be deemed to be given on the date on which the same
was personally delivered, on the date on which the notice was transmitted by facsimile and/or email or, if sent by registered
or certified mail, three (3) days after the date on which the same was deposited in a regularly maintained receptacle for the
deposit of United States mail, addressed and sent as aforesaid. The inability to deliver any such notice because of a changed
mailing address or facsimile, of which no notice was given, or because of the rejection or refusal to accept such notice, shall
be deemed to be the effective receipt of the notice as of the date of such inability to deliver, rejection, or refusal to accept.
Notice may be given by counsel or an agent for a Party.

 

    	 

     

    

 

10.5
No waiver of any breach of the terms of this Agreement shall be effective unless such waiver is in writing and signed by the Party
against whom such waiver is claimed. No waiver of any breach shall be deemed to be a waiver of any other or subsequent breach.

 

10.6
If any term, provision or section of this Agreement shall be found to be unenforceable, that term, provision, or section shall
be stricken from this Agreement and shall not affect the validity or enforceability of the remaining terms, provisions and sections
of this Agreement. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to
that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable
the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions
of this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be unenforceable, the provision
shall be interpreted to be only as broad as enforceable.

 

10.7
Each Party shall execute such documents and shall give further assurances as shall be reasonably necessary or desirable to perform
its obligations hereunder.

 

10.8
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument.

 

10.9
This Agreement shall be binding on and inure to the benefit of the Parties and their respective successors and permitted assigns.
Except as provided herein, this Agreement may not be assigned by either Party without the prior written consent of the other Party,
which consent shall not be unreasonably withheld.

 

10.10
Except as may be expressly set forth to the contrary herein, this Agreement constitutes the entire agreement between the Parties
with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether oral or written, between
the Parties (and their affiliates) with respect to the subject matter hereof. This Agreement may be amended only in writing signed
by the Parties.

 

10.11
Except as may be expressly set forth to the contrary herein, representations, warranties, covenants, and agreements contained
in this Agreement are for the sole benefit of the Parties hereto and their successors and permitted assigns, and the Agreement
will not be construed as conferring, and is not intended to confer, any rights on any other persons or entities.

 

10.12
The rights and remedies provided by this Agreement are cumulative and the use of any one right or remedy shall not preclude or
waive any other right or remedy. The rights and remedies in this Agreement are given in addition to any other rights or remedies
that the Parties may have by law, statute, ordinance or otherwise.

 

10.13
The headings in this Agreement are inserted for convenience and identification only and are in no way intended to define or limit
the scope, extent or intents of this Agreement or any provisions herein.

 

10.14
The Recitals to this Agreement are hereby incorporated into this Agreement by reference.

 

10.15
The Parties agree that this Agreement was jointly developed and prepared and shall not be construed for or against either Party
by reason of the physical preparation of this Agreement.

 

10.16
The Parties agree that, if a duly authorized representative of one Party signs this Agreement and transmits such Agreement to
the other Party via facsimile or email transmission, and a duly authorized representative of the other Party then signs such transmission,
then this Agreement shall have been validly executed by both Parties. In such case, the fully signed document and the facsimile
or pdf of such document (bearing all signatures and transmitted to the Party that originally signed such document), shall be deemed
original documents.

 

    	 

     

    

 

10.17
The Parties to this Agreement are not partners or joint ventures. This Agreement shall not constitute any Party the legal representative
or agent of the other, nor shall any Party or any affiliate of any Party have the right or authority to assume, create or incur
any liability or obligation, express or implied, against, in the name of, or on behalf of the other Party solely by virtue of
this Agreement.

 

10.18
Licensor and Licensee shall pay their own respective legal fees incurred in negotiating and preparing this Agreement.

 

11.
Joint Preparation/Independent Counsel.

 

11.1
This Agreement shall be considered, for all purposes, as having been prepared through the joint efforts of the Parties to this
Agreement. No presumption shall apply in favor of or against any Party in the interpretation of this Agreement or any such other
agreement or instrument, or in the resolution of any ambiguity of any provision hereof or thereof, based on the preparation, substitution,
submission, or other event of negotiation, drafting or execution hereof or thereof.

 

11.2
Each Party to this Agreement understands and acknowledges that each of them is entitled to and has been afforded the opportunity
to consult legal and tax counsel of its choice regarding the terms, conditions and legal effects of this Agreement as well as
the advisability and propriety thereof. Each Party to this Agreement further understands and acknowledges that having so consulted
with legal and tax counsel of its choosing, such Party hereby waives any right to raise or rely upon the lack of representation
or effective representation in any future proceedings or in connection with any future claim resulting from this Agreement.

 

[The
remainder of this page has been intentionally left blank.]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement effective as of the Effective Date.

 

	LICENSOR:	 
	BARC
    (TOCA) LIMITED	 
	 	 
	By:	/s/
    Alan Gow	 
	Name:	Alan
    Gow	 
	Title:	Chief
    Executive Officer	 

 

	LICENSEE:	 
	 	 
	MOTORSPORT
    GAMING US LLC	 
	 	 
	By:	/s/
    Stephen Hood	 
	Name:	Stephen
    Hood	 
	Title:	President	 

 

    	 

     

    

 

Annex
AExhibit
10.10.1

 

[***]
Certain information in this document has been excluded pursuant to Regulation S-K, Item (601)(b)(10). Such excluded information
is not material and would likely cause competitive harm to the registrant if publicly disclosed.

 

DISTRIBUTION
AGREEMENT

 

This
Distribution Agreement (this “Agreement”) is dated as of 18th April, 2016, by and between U&I Entertainment,
LLC (“U&I”), a Minnesota limited liability company located at 5850 Opus Parkway, Suite 250, Minnetonka, MN 55343,
and 704Games Company LLC (“Publisher/Manufacturer”,) a Delaware Company located at 550 S.Caldwell Street, 17th Floor,
Charlotte, NC 28202.

 

RECITALS:

 

	 	A.	U&I
    and Publisher/Manufacturer have agreed for U&I to distribute Publisher/Manufacturer’s Titles and Products throughout
    the Territory in accordance with the terms and conditions of this Agreement.

 

NOW,
THEREFORE, in consideration of the premises, mutual promises, agreements, terms, and conditions set forth in this Agreement,
and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree
as follows:

 

1.
Definitions.

 

“Customers”
means any individual or entity to whom Units are or may be distributed by U&I, including, without limitation, distributors,
resellers and retailers.

 

“Customer
Specific Programs” means the costs associated with marketing and merchandising programs that are either required by Customer
or mutually agreed to between U&I and Customer.

 

“Customer
Event Fees” means the costs associated with attending or exhibiting at Customer specific events.

 

“Defective
Returns” means any returns from Customers in accordance with their defective return policy.

 

“Distribution
Fee” means an amount equal to the Net Proceeds multiplied by the applicable [***].

 

“End
Users” means those persons who purchase for use one or more Units from Customers.

 

“Future
Authorized Deductions” means all price protection and returns that have been offered to retail customers but not yet deducted
from receipts.

 

“Imminent
Deductions Hold Back” means a hold back from Gross Receipts based on potential deductions from retail.

 

“NASCAR
Royalty” shall be an amount equal to [***] of the Wholesale Price minus the Cost of Goods.

 

“Marketing
Development Fund” or “MDF” means the costs associated with the marketing and merchandising of each Version at
Customer locations.

 

“Net
Proceeds” means total Payments received in any given calendar month, minus the following paid in such calendar
month: (i) Cost of Goods, (ii) MDF, (iii) Defective Returns and Pre-Approved Returns, (iv) Customer Specific Programs, (v) Customer
Event Fees, (vi) Placement Fees, (vii) Price Protection, (viii) Future Authorized Deductions, (ix) Imminent Deductions Hold Back,
(x) NASCAR Royalty, and the (xi) Reserve.

 

    	 

     

    

 

“Payments”
means wholesale proceeds actually received by U&I from the distribution of the product in any given calendar month.

 

“Placement
Fees” means the costs associated with securing retail shelf placement at Customer. 

 

“Price
Protection” means price reductions granted to Customers after order and delivery of Units to the Customer to facilitate
retail sale efforts. U&I shall be entitled to Price Protection for the Title or Product to ensure it remains on the shelf
with Customers and continues to sell through to End Users at a satisfactory rate.

 

“Pre-Approved
Returns” means Units of any Version of the Title or Product returned by a Customer that are pre-approved for return by Publisher/Manufacturer.
To the extent that there are Returns of any Units, fifty percent (50%) of the Distribution Fee attributable to said Returns shall
be credited to Publisher/Manufacturer and fifty percent (50%) of the Distribution Fee attributable to said Returns shall be retained
by U&I as a restocking fee.

 

“Reserve”
means an amount equal to the invoice value of Units still held and not yet sold through by Customers to End Users.

 

“Term”
means the period during which this Agreement shall be in effect, as set forth in Section 6 below.

 

“Territory”
shall be set forth in the attached Exhibit A, as may be amended from time to time.

 

“Title
or Product “ means each software or accessory product published or manufactured by Publisher/Manufacturer and listed in
the attached Exhibit A, as may be amended from time to time, together with all printed artwork, booklets, manuals, pamphlets or
other materials, prepared by or on behalf of Publisher/Manufacturer, which refer to or relate to each respective Title or Product
..

 

“Unit”
means one copy of one Version embodied on any storage device embodied on CD-ROM, DVD, cartridge, or any other tangible medium
now known or later devised, fully packaged as a finished good and ready for shipment to Customers.

 

“Version”
means the Title or Product as designed to operate with software, console or accessory or other interactive media environment or
platform now known or later devised. Examples of Versions include software or accessory products developed for: the IBM PC platform
utilizing the Windows XP operating system; the Apple Macintosh platform; and console platform versions such as Sony Playstation
products, Sony Playstation 4, PSP, DSi, 3DS, Microsoft Xbox One, Microsoft Xbox 360, and Nintendo Wii.

 

2.
Grant of Rights.

 

2.1
Rights Granted. With respect to each Title or Product, Publisher/Manufacturer hereby grants to U&I throughout the Territory,
during the Term:

 

a)
the exclusive, royalty-bearing, non-transferable right to sell and distribute Units to Customers.

 

b)
the non-exclusive, non-transferable right to advertise, publicize and promote, in a manner reasonably acceptable to Publisher/Manufacture,
reach Version by any means and in all media now known or later devised, subject to Publisher/Manufacturer’s prior written
approval.

 

    	 	2	 

    	 	 	 

    

 

c)
the non-exclusive , non-transferable right to use, publish and permit others to use and publish Publisher/Manufacturer ‘s
trademarks, logos and other proprietary markings in conjunction with the advertising and promotion of Units, with Publisher/Manufacturer’s
prior written approval.

 

2.2
Limitations. It is agreed and understood that the licenses granted to U&I hereunder are subject to the terms and conditions
upon which the rights to each Title or Product are owned or controlled by Publisher/Manufacturer or its licensors.

 

3.
Obligations of U&I.

 

3.1
Distribution.

 

At
the publishers discretion, U&I agrees to pay for the following associated with the Product: all costs associated with manufacturing
and any associated shipping and handling fees and all licensing royalties or other costs due the applicable console manufacturer
(Sony or Microsoft) for the distribution of the Title. Collectively, such costs will be referred to as the “Cost of Goods”
for purposes of this Agreement.

 

b)
U&I shall use commercially reasonable efforts to distribute Units to Customers.

 

c)
U&I shall be responsible for distributing and shipping Units to Customers (i.e., pick, pack and ship services).

 

d)
U&I shall provide adequate and secure warehousing facilities for all Units in inventory.

 

e)
U&I shall be responsible for all billing, invoicing, credit and collections, invoice reconciliation and related administrative
procedures associated with order taking, distribution and shipping of the Units.

 

e)
U&I will provide vendor managed inventory (VMI) services in connection with the distribution of Units to Customers.

 

f)
U&I will promptly notify Publisher/Manufacturer in writing of any known infringement of Publisher/Manufacturer’s proprietary
rights which comes to U&l’s attention. U&I agrees to cooperate, at Publisher/Manufacturer’s expense, in connection
with Publisher/Manufacturer’s reasonable efforts to protect its proprietary rights in the Title or Products.

 

3.3
Marketing.

 

a)
U&I shall use commercially reasonable efforts to market the Units to the Customers.

 

b)
U&I shall provide recommendations and assist Publisher/Manufacturer in developing strategies to be implemented by Publisher/Manufacturer
to help stimulate the sale of the Units to the Customers, provided that U&I shall not be obligated to incur any costs associated
with retaining or employing third parties.

 

c)
U&I will provide Publisher/Manufacturer with regular reports which shall include the following information, if available;
a summary of the number of Units distributed to each Customer, sold through, and the number of Units returned since the last report
issued.

 

d)
U&I shall advise Publisher/Manufacturer on matters relating to marketing, placement, promotion and sell through of Title or
Product by each Customer.

 

    	 	3	 

    	 	 	 

    

 

f)
U&I shall coordinate and arrange for in-store merchandising of the Units at the Customers.

 

g)
U&I shall obtain approval from Publisher/Manufacturer prior to authorizing MDF or Price Protection for a Customer.

 

4.
Obligations of Publisher/Manufacturer.

 

4.1
Software or Accessory. Publisher/Manufacturer shall provide U&I with either (i) finished goods of the Title or Product
in each Version; or, (ii) the gold master, plus box artwork and manuals, where U&I will create the boxed Product.

 

4.2
Technical Support. Publisher/Manufacturer will provide technical support for each Version in the Territory to U&I,
Customers and End Users in a manner consistent with the technical support that Publisher/Manufacturer provide for all of its products.
During the Term of the Agreement, each party agrees to inform the other promptly of know defects or operational errors affecting
any Version.

 

4.3
Testing. Prior to the delivery of Title or Product to U&I, Publisher/Manufacturer agrees to use commercially reasonable
efforts to test each Version to assure that each Version, to the best of Publisher/Manufacturer’s knowledge, is bug-free
and fully functional in the different configurations in which the Version is designated to run and for all peripherals with which
each Version is designated to work.

 

4.4
Changes. Publisher/Manufacturer will give U&I notice at least ninety (90) days prior to any material modification to
a Title or Product or any Version, including without limitation, Publisher/Manufacturer’s decisions to discontinue or materially
enhance any Title or Product or Version. Publisher/Manufacturer shall use commercially reasonable efforts to promptly provide
U&I with master disks embodying all updates and enhancements

 

4.5
Distribution. Publisher/Manufacturer will be responsible for all third party fees associated with shipping Units including
handling, storage and freight. U&I will use best efforts in minimizing fees associated with shipping units.

 

4.6
Marketing.

 

a)
Notwithstanding U&l’s rights set forth in Section 2.1, throughout the Term, Publisher/Manufacturer will use its commercially
reasonable efforts to advertise, market and promote the Title or Product throughout the Territory to the Customers.

 

b)
Publisher/Manufacturer shall provide to U&I ninety (90) days prior to the street date of each Version and upon reasonable
request thereafter, at no cost to U&I, copies of each of the following materials for purposes of facilitating the promotion
of that Version by U&I: the master disk, demonstration copies, specification sheets, sell sheets and any other available promotional
material to the extent that Publisher/Manufacturer has these available.

 

5.
Compensation.

 

5.1
If U&I has paid the Cost of Goods, then U&I shall pay Publisher/Manufacturer [***] of Net Proceeds within thirty (30)
days after the end of each calendar month; U&I shall retain [***] of Net Proceeds as its Distribution Fee and full and complete
compensation to U&I hereunder.

 

    	 	4	 

    	 	 	 

    

 

5.2
Within five business days, Publisher /Manufacturer agrees to credit or reimburse U&I for any deductions authorized by Publisher/Manufacturer
and deducted from U&I by Customers outlined herein and by Exhibit A within five business days of the date the deduction is
taken by Customer. To be clear, credits may be applied against amounts owed to Publisher/Manufacturer by U&I but if nothing
is Publisher/Manufacturer, Publisher/Manufacturer must reimburse U&I via check, ACH or wire transfer the amount authorized
by Publisher/Manufacturer and deducted by Customers for the prior calendar month to Publisher/Manufacturer.

 

5.3
Accounting.

 

a)
Along with any Net Proceeds due, U&I shall submit a report to Publisher/Manufacturer showing Payments, Manufacturing Costs
(where applicable), Price Protection, MDF, Returns, the Distribution Fee and any other deductions, fees and costs permitted to
be deducted under the terms of this Agreement.

 

b)
Publisher/Manufacturer will have the right, exercisable not more than once every twelve (12) months, at Publisher/Manufacturer’s
expense, to examine or have its agents examine, such books, records and accounts during U&l’s normal business hours
to verify the payments due by U&I to Publisher/Manufacturer hereunder.

 

c)
On a quarterly basis, U&I and Publisher/Manufacturer will discuss the Reserve and Imminent Deduction Hold Back amounts from
the previous quarter and shall mutually agree upon reconciliations of same, as and if appropriate.

 

6.
Term.

 

Subject
to Section 7 below, the term of this Agreement shall commence as of the date hereof and shall continue for twelve (12) months,
and shall automatically renew for additional renewal terms of twelve (12) months unless notice of termination is received by any
party at least thirty (30) days prior to the expiration of the initial term or any renewal term. This Agreement shall automatically
renew for a minimum of 12 months on the release of a new Title or Product.

 

7.
Termination.

 

7.1
Termination for Breach. In the event of a material breach by either party, which breach is not cured within thirty (30)
days after written notice by the nonbreaching party, the nonbreaching party may, upon written notice to the breaching party, terminate
this Agreement in its entirety or only in respect to the Version to which the breach relates. Upon termination, the nonbreaching
party will have the right to pursue any remedies it may have at law or in equity.

 

7.2
Immediate Termination. Either party may immediately terminate this agreement if (i) a receiver is appointed for the other
party or its property; (ii) the other party becomes insolvent or is unable to pay its debts as they mature, or makes an assignment
for the benefit of its creditors; (iii) the other party seeks relief or if proceedings are commenced against the other party or
on its behalf under any bankruptcy, insolvency or debtor’s relief law, and those proceedings have not been vacated or set
aside within sixty (60) days from the date of their commencement; or (iv) if the other party is liquidated or dissolved.

 

7.3
Effect of Termination. Upon termination of this agreement:

 

a)
Upon termination, Publisher/Manufacturer and U&I will establish a mutually agreeable payment plan based on historic sell through
patterns.and any anticipated, imminent or potential exposure at retail.

 

    	 	5	 

    	 	 	 

    

 

b)
U&I may return all unsold units of product to Publisher/Manufacturer and/or sell remaining inventory with Publisher/Manufacturer’s
prior written approval.

 

(c)
Sections 1, 5, 8, 9, 10, 11, 12.1, 12.2, 12.6, and 12.9 shall survive termination of this Agreement.

 

8.
Freedom to Compete.

 

Subject
to the rights granted to U&I herein, each party agrees that nothing in this Agreement will be construed as restricting or
prohibiting either party from lawfully competing with the other party in any other aspects of its business, including, without
limitation, development of and/or distribution of other software or Accessory products and services; including the rights to sell
and distribute the Game in bundled format with other products to any of its customers including but not limited to Walmart, Best
Buy and Target. Without limiting the generality of the foregoing, each party acknowledges that the other party is in the business
of creating and publishing software or Accessory products for a variety of hardware platforms and related hardware products, that
the other party maintains and continually seeks relationships with other parties, and that the other party maintains and continually
seeks licensing or similar arrangements with other parties. Each party agrees that nothing in this Agreement will be construed
as restricting or prohibiting the other party from continuing its business in any lawful manner and without limitation the other
party may at its sole discretion at any time during or after the term of this Agreement (a) create, publish, manufacture, market
and distribute any other products, even if such products are competitive and similar to the Title or Product; and (b) enter into
and maintain relationships with any other party, even if such parties are competitors, or licensors of the other party.

 

9.
Representations and Warranties.

 

a)
Publisher/Manufacturer represents and warrants to U&I that:

 

(i)
It has the full right, power and authority to enter into this Agreement, to carry out its terms and to grant the rights, licenses
and privileges granted under this Agreement;

 

(ii)
Publisher/Manufacturer has all necessary rights, title and interest in and to the Title or Product and the Versions and all other
materials furnished to U&I under this Agreement to grant U&I the rights granted hereunder;

 

(iii)
The Title or Product and other materials furnished to U&I by and on behalf of Publisher/Manufacturer, under this Agreement
do not infringe upon, or misappropriate, any copyright, trade secret or any other proprietary rights of any third party;

 

(iv)
Each Version will perform substantially in accordance with Publisher/Manufacturer’s specifications and express warranties
for each respective Version;

 

(v)
Publisher/Manufacturer has not and shall not assign, transfer, lease, convey or grant a security interest or otherwise similarly
dispose of the Title or Product to a third party unless such third party agrees to be bound by the terms of this Agreement; and

 

(vi)
Prior to delivery of master disks or finished goods to U&I, Publisher/Manufacturer will obtain all necessary rights from any
and all hardware Manufacturers (e.g. Microsoft, Sony and Nintendo) to perform its obligations with respect to any Title or Product
or Version.

 

b)
U&I represents and warrants to Publisher/Manufacturer that:

 

(i)
It has the full right, power and authority to enter into this Agreement, to carry out its terms and to grant the rights, licenses
and privileges granted in this Agreement.

 

    	 	6	 

    	 	 	 

    

 

(ii)
It has all necessary rights, title and interest in and to the materials furnished by it and incorporated into the Units;

 

(iii)
Materials furnished by U&I under this Agreement do not infringe upon or misappropriate any copyright, trade secret or any
other proprietary rights of any third party.

 

10.
Indemnification.

 

10.1
Publisher/Manufacturer Indemnity. Publisher/Manufacturer agrees to indemnify, hold harmless and defend U&I, its subsidiaries,
affiliates and their respective officers, directors and employees from and against all claims, losses, defense costs (including
reasonable attorneys’ fees), judgments and other expenses related to or arising out of: (a) the breach of its representations,
warranties and covenants hereunder; (b) any product liability with respect to any Title or Product ; (c) the alleged infringement
or violation of any trademark, copyright, trade secret, patent or other proprietary right with respect to any Title or Product
; and (d) any unfair trade practice, trade libel or misrepresentation based on any promotional material, packaging, documentation
or other materials provided by Publisher/Manufacturer with respect to any Title or Product, provided that Publisher/Manufacturer
shall have no indemnification obligations hereunder to the extent any such claims, losses or costs relate to or arise out of U&l’s
gross negligence, willful misconduct or breach of this agreement. Publisher/Manufacturer’s obligation to indemnify is conditioned
on (i) U&I notifying Publisher/Manufacturer of any such claim as to which indemnification will be sought promptly after U&I
learns of such claim and (ii) providing Publisher/Manufacturer reasonable cooperation in the defense and settlement thereof. Publisher/Manufacturer
shall have the right to control the defense and settlement of any such claim at Publisher/Manufacturer’s expense and to
choose counsel for such purpose, provided that (other than with respect to claims for money damages for which U&I is indemnified
hereunder) Publisher/Manufacturer may not settle any such claim without U&l’s prior written consent, which consent shall
not be unreasonably withheld or delayed. U&I may retain counsel (at U&l’s sole option and expense) with respect
to any such claim, and Publisher/Manufacturer shall ensure that its counsel reasonably cooperates with U&l’s counsel
in the course of such defense. If Publisher/Manufacturer does not fulfill its indemnification obligations in good faith, U&I
will have the right to defend and settle any claim for which it was entitled to indemnification under this agreement and to receive
reimbursement from Publisher/Manufacturer for all of its reasonable costs (including attorneys fees and costs) in defending and
settling such claim.

 

10.2
U&I Indemnification. U&I agrees to indemnify, hold harmless and defend Publisher/Manufacturer, its subsidiaries,
affiliates and their respective officers, directors and employees from and against all claims, losses, defense costs (including
reasonable attorneys’ fees), judgments and other expenses arising out of: (a) the breach of its representations, warranties
and covenants hereunder and (b) any unfair trade practice, trade libel of misrepresentation based on any promotional material,
packaging documentation or other materials provided by U&I with respect to any Title or Product , provided that U&I shall
have no indemnification obligations hereunder to the extent any such claims, losses or costs relate to or arise out of Publisher/Manufacturer’s
gross negligence, willful misconduct, breach of this agreement or any materials provided by Publisher/Manufacturer pursuant to
this agreement. U&l’s obligation to indemnify is conditioned on Publisher/Manufacturer notifying U&I of any such
claim as to which indemnification will be sought promptly after Publisher/Manufacturer learns of such claim, and providing U&I
reasonable cooperation in the defense and settlement thereof. Provided that U&I is fulfilling its indemnification obligations
hereunder in good faith, U&I shall have the right to control the defense and settlement of any such claim at U&l’s
expense and to choose counsel for such purpose, provided that U&I may not settle any such claim without Publisher/Manufacturer’s
prior written consent, which consent shall not be unreasonably withheld or delayed. Publisher/Manufacturer may retain counsel
(as Publisher/Manufacturer’s sole option and expense) with respect to any such claim, and U&I shall ensure that its
counsel reasonably cooperates with Publisher/Manufacturer’s counsel in the course of such defense. If U&I does not fulfill
its indemnification obligations in good faith, Publisher/Manufacturer will have the right to defend and settle any claim for which
it was entitled to indemnification and to receive reimbursement from U&I for all of its reasonable costs (including attorneys
fees and costs) in defending and settling this claim.

 

    	 	7	 

    	 	 	 

    

 

10.3
LIMITATION OF LIABILITY. BOTH PARTIES AGREE THAT TO THE EXTENT PERMISSIBLE BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES SHALL
EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL DAMAGES OR LOST PROFITS, ARISING IN CONNECTION
WITH THIS AGREEMENT, OR, ON ACCOUNT OF ITS TERMINATION, EVEN IF APPRAISED OF THE LIKELIHOOD OF SUCH DAMAGES OCCURRING.

 

11.
Confidentiality.

 

11.1
Confidential Information. During the Term of this agreement, Publisher/Manufacturer and U&I may be exposed to certain
information that is confidential to the other party and is not generally known to the public, including without limitation (a)
quantities, dollar volumes, and revenue of Units, (b) the terms of this agreement including Payments, marketing funds and like
information, and (c) business and marketing plans, future products, research and development. Each party agrees respectively,
that for a period of three (3) years after its initial receipt of the other party’s confidential information it will not,
and will cause its employees, agents, contractors, and like entities to not, use in any way for its own account or the account
of any third party, nor disclose to any third party, any such confidential information without the prior written consent of the
other party, except to employees, agents, contractors and like entities solely as required to fulfill the purposes of this Agreement,
provided any such third parties agree in writing to be bound by the confidentiality obligations under this agreement. Publisher/Manufacturer
and U&I agree that they will safeguard the confidential information which each party may receive from the other party for
the period set forth above with the same degree of care used to protect its own information of a like nature but in no circumstances
less than reasonable care.

 

11.2
Non-Confidential Information. Section 11.1 above shall not be applicable to any information: (a) which is in the public
domain or which becomes part of the public domain through no fault on the part of the receiving party; (b) which is known to the
receiving party prior to the disclosure thereof by the disclosing party, as established by documentary evidence; (c) which is
lawfully received by the receiving party from a third party who provided, such information without breach of any separate confidentiality
obligation owed to the disclosing party; (d) which is disclosed by the disclosing party to any third party without restriction
on further disclosure; (e) which is independently developed by personnel having no access to the disclosing party’s confidential
information as established by documentary evidence, or (f) which is required to be disclosed pursuant to any governmental, judicial
or administrative order, subpoena or discovery request (in which case, receiving party shall promptly notify disclosing party
of such order and reasonably cooperate with the disclosing party in seeking to enjoin the disclosure of such information).

 

12.
Miscellaneous.

 

12.1
Notices. Any notice required or permitted to be given or sent under this agreement will be deemed delivered if hand delivered
or if mailed, postage prepaid, by registered, express or certified mail, return receipt requested, or by any nationally-recognized
private express courier, to either party at the address listed below, or to such other address of which either party may so notify
the other, as of the date such notice is received.

 

	If
    to Publisher/Manufacturer:	 
	 	Attn:
	 	Phone:
	 	Fax:
	 	 
	If
    to U&I:	U&I
    Entertainment, LLC
	 	5850
    Opus Parkway, Suite 250
	 	Minnetonka,
    MN 55343 Attn: Chief Executive Officer Phone: (612) 713-9100
	 	Fax:
    (612) 208-0740

 

    	 	8	 

    	 	 	 

    

 

12.2
Governing Law/Forum. This agreement will be deemed entered into in Minnesota, and will be governed by and interpreted in
accordance with the substantive laws of the State of Minnesota. The parties agree that any and all disputes between the parties
arising from or related to this Agreement shall be heard and determined by binding arbitration before a single arbitrator, and
judgment upon the award(s) rendered by the arbitrator may be entered in any court of competent jurisdiction. The arbitrator shall
be named by the American Arbitration Association (“AAA”). Arbitration proceedings will be held in Minneapolis, Minnesota
under the Rules of Commercial Arbitration and under the institutional supervision of the AAA, and the parties irrevocably submit
to the jurisdiction of the Federal and State courts located in Minnesota incident to any such arbitral proceeding. Witnesses residing
outside of the State of Minnesota may testify telephonically or via such other audio/visual means as the arbitrator approves.
The prevailing party shall be entitled to an award of its attorneys’ fees and costs. A final arbitral award against either
party in any proceeding arising out of or relating to this Agreement shall be conclusive. The foregoing provisions shall not limit
the right of either party to commence any action or proceeding to compel arbitration, to obtain injunctive relief pending the
appointment of an arbitrator, or to obtain execution of any award rendered in any such action or proceeding, in any other appropriate
jurisdiction or in any other manner. The Parties agree to accept service of process by mail and waive any jurisdictional or venue
defenses available to them.

 

12.3
Force Majeure . Neither party will be deemed in default of this agreement to the extent that performance of its obligations,
or attempts to cure any breach is delayed or prevented by reason of any act of God, fire, natural disaster, accident, act of government,
shortages of material or supplies or any other cause not being under the control of such party (“Force Majeure”),
provided that such party gives the other party prompt written notice thereof promptly and uses its good faith effort to continue
to cure any breach. In the event that either party’s performance is delayed for more than thirty (30) days from the date
such Force Majeure arose, the party whose performance is not affected may terminate this Agreement without further liability (but
subject to either party’s obligation to pay the other party any amounts which have or will become due) upon notice to the
affected party if the Force Majeure is continuing.

 

12.4
Amendment. No amendment or modification of this agreement will be made except by an instrument in writing signed by both
parties. The failure of either party to prosecute its right with respect to any single or continued breach of this agreement will
not act as a waiver of the right of that party to later exercise any right or remedy with respect to that breach or any other
breach of this agreement by the other party.

 

12.5
Relationship. The relationship between U&I and Publisher/Manufacturer will be that of independent contractors. Each
party is not and shall not be deemed to be an employee, agent, partner or legal representative of the other for any purpose and
shall not have any right, power or authority to create any obligation or responsibility on behalf of the other.

 

12.6
Severability. If any provision of this agreement is found invalid or unenforceable pursuant to judicial decree, such provision
will be enforced to the maximum extent permissible and the remainder of this agreement will remain in full force and effect
according to its terms.

 

12.7
Assignment. Neither party may assign any of its rights hereunder without the prior written consent of the non-assigning
party, which will not be unreasonably withheld, provided that either party may assign this agreement, without the other party’s
consent, (a) to a parent company, a subsidiary of a parent company or a subsidiary provided that such entity has similar capabilities
to perform the obligations to those of the assigning party or (b) to a third party which acquires the assigning party, merges
with the assigning party or acquires all or substantially all of the assigning party’s assets.

 

    	 	9	 

    	 	 	 

    

 

12.8
Modifications to Exhibit A. The parties may modify the terms of Exhibit A to reflect the addition, deletion or substitution
of Title or Product and/or Versions, by notice sent in writing via fax, email, regular or overnight mail, provided that any such
notification is sent by an authorized party and an acknowledgment of receipt and agreement to its terms are evidenced in writing
by a person authorized by the other party to accept and respond to such notices. U&I hereby authorizes its Chief Executive
Officer to send and respond to such notices. Publisher/Manufacturer hereby authorizes _ _ _ _ _ _ _ _ _ to send and respond to
such notices. All such notices that are received, acknowledged and agreed to in writing by the other party as provided in this
Section 12.8 shall be deemed incorporated into Exhibit A by reference and made a part of this agreement. Any product added to
Exhibit A will extend the Term of this agreement by 12 months.

 

12.9
Ownership and Goodwill. All uses of any Title or Product, and any derivative thereof shall inure to the benefit of Publisher/Manufacturer
and its licensors. All ownership, copyrights trademarks and other rights in and to each Title and Product and any derivative thereof,
and related materials, including, without limitation, related copy, source code, object code, literary text, advertising materials,
promotional materials and instruction materials, of any sort utilizing a Title or Product and any derivative thereof, shall vest
with Publisher/Manufacturer or its licensors. U&I or Publisher/Manufacturer shall not at any time acquire or claim any right,
title or interest in the other’s trademarks or service marks other than those rights expressly granted. All right or interest
in either party’s trademarks and service marks which come into existence as a result, or during the term of, the exercise
by U&I or Publisher/Manufacturer of any right granted to it hereunder shall immediately vest in the applicable party.

 

12.10
Entire Agreement. This agreement and the Exhibits attached hereto state the entire agreement between the parties relating
to the subject matter of this agreement and supersede any and all prior agreements and communications, written or oral. This agreement
may be executed by facsimile and in counterparts and shall constitute a valid, binding agreement.

 

IN
WITNESS WHEREOF, the parties hereto have executed the agreement by their duly authorized representatives as set forth below.

 

	U&I
    Entertainment, LLC	 	704Games
    Company LLC
	 	 	 
	By:	/s/
    Marty Hawk          	 	By:	/s/
    Michelle Baker Dillon
	Name:	Marty
    Hawk	 	Name:	Michelle
    Baker Dillon
	Title:	CEO	 	Title:	VP
    Finance & Operations

 

    	 	10	 

    	 	 	 

    

 

EXHIBIT
A

 

Title/Product:
The computer game known as “NASCAR Heat 2”

 

Format:
Playstation 4, Xbox One and PC

 

Customers::
All cusstomers except GameStop

 

Territory:
United States of America and South America

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