Document:

EX-10.37

 Exhibit 10.37 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement is dated as of             , 2020 (this
“Agreement”) and is between Academy Sports and Outdoors, Inc., a Delaware corporation (the “Company”), and the undersigned director/officer of the Company (“Indemnitee”). 

Background 
 The
Company believes that, in order to attract and retain highly competent persons to serve as directors or in other capacities, including as officers, it must provide such persons with adequate protection through indemnification against the risks of
claims and actions against them arising out of their services to and activities on behalf of the Company. 
 The Company desires and has
requested Indemnitee to serve as a director and/or officer of the Company and, in order to induce Indemnitee to serve as a director and/or officer of the Company, the Company is willing to grant Indemnitee the indemnification provided for herein.
Indemnitee is willing to so serve on the basis that such indemnification be provided. 
 The parties by this Agreement desire to set forth
their agreement regarding indemnification and the advancement of expenses. 
 In consideration of Indemnitee’s service to the Company
and the covenants and agreements set forth below, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows. 

Section 1. Indemnification. 

To the fullest extent permitted by the General Corporation Law of the State of Delaware (the “DGCL”), but subject to
Section 6: 
 (a) The Company shall indemnify Indemnitee if Indemnitee was or is made or is threatened to be made a party to, or is
otherwise involved in, as a witness or otherwise, any action, suit or proceeding (brought by or in the right of the Company or otherwise), whether civil, criminal, administrative or investigative, by reason of the fact that Indemnitee is or was or
has agreed to serve as a director or officer of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for
purposes hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action
alleged to have been taken or omitted in any such capacity. 
 (b) The indemnification provided by this Section 1 shall be from and
against all loss and liability suffered and expenses (including reasonable attorneys’ fees), judgments, fines and amounts paid in settlement actually incurred by or on behalf of Indemnitee in connection with such action, suit or proceeding,
including any appeals. 
 Section 2. Advance Payment of Expenses. To the fullest extent permitted by
the DGCL, expenses (including attorneys’ fees) incurred by Indemnitee in appearing at, participating in or defending any action, suit or proceeding or in connection with an enforcement action as contemplated by Section 3(e), shall be paid
by the Company in advance of the final disposition of such action, suit or proceeding within 30 days after receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time. Indemnitee hereby
undertakes to repay any amounts advanced (without interest) to the extent that it is ultimately determined that Indemnitee is not entitled under this Agreement to be indemnified by the Company in respect thereof. No other form of undertaking shall
be required of Indemnitee other than the execution of this Agreement. This Section 2 shall be subject to Section 3(b) and shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Sections 6 and 7. 

 Section 3. Procedure for Indemnification; Notification and
Defense of Claim. 
 (a) Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding,
Indemnitee shall, if a claim in respect thereof is to be made against the Company hereunder, notify the Company in writing of the commencement thereof. The failure to promptly notify the Company of the commencement of the action, suit or proceeding,
or of Indemnitee’s request for indemnification, will not relieve the Company from any liability that it may have to Indemnitee hereunder, except to the extent the Company is actually and materially prejudiced in its defense of such action, suit
or proceeding as a result of such failure. To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request therefor including such documentation and information as is reasonably available to Indemnitee and is
reasonably necessary to enable the Company to determine whether and to what extent Indemnitee is entitled to indemnification. 
 (b) With
respect to any action, suit or proceeding of which the Company is so notified as provided in this Agreement, the Company shall, subject to the last two sentences of this paragraph, be entitled to assume the defense of such action, suit or
proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the
Company, the Company will not be liable to Indemnitee under this Agreement for any subsequently-incurred fees of separate counsel engaged by Indemnitee with respect to the same action, suit or proceeding unless the employment of separate counsel by
Indemnitee has been previously authorized in writing by the Company. Notwithstanding the foregoing, if Indemnitee, based on the advice of his or her counsel, shall have reasonably concluded (with written notice being given to the Company setting
forth the basis for such conclusion) that, in the conduct of any such defense, there is or is reasonably likely to be a conflict of interest or position between the Company and Indemnitee with respect to a significant issue, then the Company will
not be entitled, without the written consent of Indemnitee, to assume such defense, and, if the Company has already assumed such defense prior to receipt of such notice, Indemnitee will be entitled to take over such defense from the Company. In
addition, the Company will not be entitled, without the written consent of Indemnitee, to assume the defense of any claim against Indemnitee brought by or in the right of the Company. 

(c) To the fullest extent permitted by the DGCL, unless Indemnitee is ineligible for indemnification pursuant to Section 6, the
Company’s assumption of the defense of an action, suit or proceeding in accordance with paragraph (b) above will constitute an irrevocable acknowledgement by the Company that any loss and liability suffered by Indemnitee and expenses
(including attorneys’ fees), judgments, fines and amounts paid in settlement by or for the account of Indemnitee incurred in connection therewith are indemnifiable by the Company under Section 1, absent a misstatement by Indemnitee of a
material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification. 

(d) The determination whether to grant Indemnitee’s indemnification request shall be made promptly and in any event within 30 days
following the Company’s receipt of a request for indemnification in accordance with Section 3(a). If the Company determines that Indemnitee is entitled to such indemnification or, as contemplated by paragraph (c) above, the Company
has acknowledged such entitlement, the Company will make payment to Indemnitee of the indemnifiable amount within such 30-day period. If the Company is not deemed to have so acknowledged such entitlement or
the Company’s determination of whether to grant Indemnitee’s indemnification request shall not have been made within such 30-day period, the requisite determination of entitlement to indemnification
shall, subject to Section 6, nonetheless be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make
Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under the DGCL. 

  
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 (e) In the event that (i) the Company determines in accordance with this Section 3
that Indemnitee is not entitled to indemnification under this Agreement, (ii) the Company denies a request for indemnification, in whole or in part, or fails to respond or make a determination of entitlement to indemnification within 30 days
following receipt of a request for indemnification as described above, (iii) payment of indemnification is not made within such 30-day period, or (iv) the Company or any other person takes or
threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee
hereunder, Indemnitee shall be entitled to an adjudication in any court of competent jurisdiction of his or her entitlement to such indemnification and/or benefits. In the event that advancement of expenses is not timely made in accordance with
Section 2, Indemnitee shall be entitled to an adjudication in any court of competent jurisdiction of his or her entitlement to such advancement of expenses. Indemnitee’s expenses (including attorneys’ fees) incurred in connection with
successfully establishing Indemnitee’s right to indemnification or advancement of expenses, in whole or in part, in any such proceeding or otherwise shall also be indemnified by the Company to the fullest extent permitted by the DGCL. 

(f) Subject to Sections 6 and 7, Indemnitee shall be presumed to be entitled to indemnification and advancement of expenses under this
Agreement upon submission of a request therefor in accordance with Sections 2 or 3, as the case may be. The Company shall have the burden of proof in overcoming such presumption, and such presumption shall be used as a basis for a determination of
entitlement to indemnification and advancement of expenses unless the Company overcomes such presumption by clear and convincing evidence. 

Section 4. Insurance and Subrogation. 

(a) The Company shall use its reasonable best efforts to purchase and maintain a policy or policies of insurance with reputable insurance
companies, providing Indemnitee with coverage for any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer of the
Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary,
partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or arising out of Indemnitee’s status as such, whether or not the Company
would have the power to indemnify Indemnitee against such liability under the provisions of this Agreement. Such insurance policies shall have coverage terms and policy limits at least as favorable to Indemnitee as the insurance coverage provided to
any other director or officer of the Company. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the
premium costs for such insurance are disproportionate to the amount of the coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit or if the Company otherwise determines in good
faith that obtaining or maintaining such insurance is not in the best interests of the Company. If the Company has such insurance in effect at the time the Company receives from Indemnitee any notice of the commencement of an action, suit or
proceeding, the Company shall give prompt notice of the commencement of such action, suit or proceeding to the insurers in accordance with the procedures set forth in the policy. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policy. 

(b) Subject to Section 9(b), in the event of any payment by the Company under this Agreement, the Company shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy maintained by the Company. Indemnitee shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Company shall pay or reimburse all expenses actually and reasonably incurred by
Indemnitee in connection with such subrogation. 

  
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 (c) Subject to Section 9(b), the Company shall not be liable under this Agreement to
make any payment of amounts otherwise indemnifiable hereunder (including, but not limited to, judgments, fines and amounts paid in settlement, and excise taxes or penalties relating to the Employee Retirement Income Security Act of 1974, as amended)
if and to the extent that Indemnitee has otherwise actually received such payment under this Agreement or any insurance policy other than an insurance policy maintained by an Indemnitee-related entity, contract, agreement or otherwise. 

Section 5. Certain Definitions. For purposes of this Agreement, the following definitions shall apply:

 (a) The term “action, suit or proceeding” shall be broadly construed and shall include, without limitation, the
investigation, inquiry, hearing, preparation, prosecution, defense, mediation, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed claim, action, suit, arbitration, alternative dispute
mechanism or proceeding, whether civil, criminal, administrative, investigative or other, and whether made pursuant to federal, state or other law. 

(b) The term “by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer of the Company, or
while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, partner or manager or
similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise” shall be broadly construed and shall include, without limitation, any actual or alleged
act or omission to act. 
 (c) The term “expenses” shall be broadly construed and shall include, without limitation,
all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, appeal bonds, other
out-of-pocket costs and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise compensated by the Company or any third party),
actually and reasonably incurred by Indemnitee in connection with either the investigation, defense or appeal of an action, suit or proceeding or establishing or enforcing a right to indemnification under this Agreement or otherwise incurred in
connection with a claim that is indemnifiable hereunder. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amounts of judgments and fines or amounts paid in settlement. 

(d) The term “judgments, fines and amounts paid in settlement” shall be broadly construed and shall include, without
limitation, all direct and indirect payments of any type or nature whatsoever, as well as any penalties or excise taxes assessed on a person with respect to an employee benefit plan). 

Section 6. Limitation on Indemnification. Notwithstanding any other provision herein to the contrary, the Company shall
not be obligated pursuant to this Agreement: 
 (a) Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee
with respect to an action, suit or proceeding (or part thereof) initiated by Indemnitee, except with respect to any compulsory counterclaim brought by Indemnitee in response to an action, suit or proceeding otherwise indemnifiable under this
Agreement or an action, suit or proceeding brought to establish or enforce a right to indemnification or advancement of expenses under this Agreement (which shall be governed by the provisions of Section 6(b)), unless such action, suit or
proceeding (or part thereof) was authorized or consented to by the Board of Directors of the Company. 
 (b) Action for
Indemnification. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, unless Indemnitee is successful in such action, suit
or proceeding in establishing Indemnitee’s right, in whole or in part, to indemnification or advancement of expenses hereunder (in which case such indemnification or advancement shall be provided to the fullest extent permitted by the DGCL), or
unless and to the extent that 

  
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the court in such action, suit or proceeding shall determine that, despite Indemnitee’s failure to establish his or her right to indemnification, Indemnitee is entitled to indemnity for such
expenses; provided, however, that nothing in this Section 6(b) is intended to limit the Company’s obligations with respect to the advancement of expenses to Indemnitee in connection with any such action, suit or proceeding instituted by
Indemnitee to enforce or interpret this Agreement, as provided in Section 2. 
 (c) Certain Exchange Act Claims. To indemnify
Indemnitee in connection with any action, suit or proceeding made against Indemnitee for (i) disgorgement of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of state statutory law or common law, (ii) any reimbursement of the Company by Indemnitee of any bonus or other incentive-based
or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the
Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of
Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board of Directors of the Company or the
compensation committee of the Board of Directors of the Company, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act. 

(d) Fraud or Willful Misconduct. To indemnify Indemnitee on account of conduct by Indemnitee where such conduct has been determined by
a final (not interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to which there is no further right or option of appeal or the time within which an appeal must be filed has
expired without such filing to have been knowingly fraudulent or constitute willful misconduct. 
 (e) Prohibited by Law. To
indemnify Indemnitee in any circumstance where such indemnification has been determined by a final (not interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to which there is no
further right or option of appeal or the time within which an appeal must be filed has expired without such filing to be prohibited by law. 

Section 7. Certain Settlement Provisions. Notwithstanding any other provision herein to the contrary,
the Company shall have no obligation to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any action, suit or proceeding without the Company’s prior written consent. The Company shall not settle any action, suit or
proceeding in any manner that would impose any fine or other obligation on Indemnitee without Indemnitee’s prior written consent. Neither the Company nor Indemnitee will unreasonably withhold his, her, its or their consent to any proposed
settlement. 
 Section 8. Savings Clause. If any provision or provisions (or portion thereof) of
this Agreement shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee if Indemnitee was or is made or is threatened to be made a party or is otherwise involved in any
action, suit or proceeding (brought by or in the right of the Company or otherwise), whether civil, criminal, administrative or investigative and whether formal or informal, including appeals, by reason of the fact that Indemnitee is or was or has
agreed to serve as a director or officer of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes
hereof, shall include a trustee, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action alleged to have been
taken or omitted in such capacity, from and against all loss and liability suffered and expenses (including reasonable attorneys’ fees), judgments, fines and amounts paid in settlement incurred by or on behalf of Indemnitee in connection with
such action, suit or proceeding, including any appeals, to the fullest extent permitted by any applicable portion of this Agreement that shall not have been invalidated. 

  
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 Section 9. Contribution/Jointly Indemnifiable
Claims. 
 (a) In order to provide for just and equitable contribution in circumstances in which the indemnification provided for
herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Company shall, to the fullest extent permitted by law, contribute to the payment of all of
Indemnitee’s loss and liability suffered and expenses (including reasonable attorneys’ fees), judgments, fines and amounts paid in settlement incurred by or on behalf of Indemnitee in connection with any action, suit or proceeding,
including any appeals, in an amount that is just and equitable in the circumstances; provided, that, without limiting the generality of the foregoing, such contribution shall not be required where such holding by the court is due to any limitation
on indemnification set forth in Sections 4(c), 6 or 7. 
 (b) Given that certain jointly indemnifiable claims may arise due to the service
of Indemnitee as a director and/or officer of the Company at the request of Indemnitee-related entities, the Company acknowledges and agrees that the Company shall be fully and primarily responsible for the payment to Indemnitee in respect of
indemnification or advancement of expenses in connection with any such jointly indemnifiable claim, pursuant to and in accordance with the terms of this Agreement, irrespective of any right of recovery Indemnitee may have from Indemnitee-related
entities. Under no circumstance shall the Company be entitled to any right of subrogation against or contribution by Indemnitee-related entities and no right of advancement, indemnification or recovery Indemnitee may have from Indemnitee-related
entities shall reduce or otherwise alter the rights of Indemnitee or the obligations of the Company hereunder. In the event that any of Indemnitee-related entities shall make any payment to Indemnitee in respect of indemnification or advancement of
expenses with respect to any jointly indemnifiable claim, the Indemnitee-related entity making such payment shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee against the Company, and Indemnitee shall
execute all papers reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable Indemnitee-related entities effectively to bring suit to
enforce such rights. The Company and Indemnitee agree that each of Indemnitee-related entities shall be third-party beneficiaries with respect to this Section 9(b), entitled to enforce this Section 9(b) as though each such
Indemnitee-related entity were a party to this Agreement. For purposes of this Section 9(b), the following terms shall have the following meanings: 

(i) The term “Indemnitee-related entities” means any corporation, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise (other than the Company or any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise for which
Indemnitee has agreed, on behalf of the Company or at the Company’s request, to serve as a director, officer, employee or agent and which service is covered by the indemnity described in this Agreement) from whom an Indemnitee may be entitled
to indemnification or advancement of expenses with respect to which, in whole or in part, the Company may also have an indemnification or advancement obligation (other than as a result of obligations under an insurance policy). 

(ii) The term “jointly indemnifiable claims” shall be broadly construed and shall include, without
limitation, any action, suit or proceeding for which Indemnitee shall be entitled to indemnification or advancement of expenses from both Indemnitee-related entities and the Company pursuant to the DGCL or other comparable governing law, or any
agreement or the certificate of incorporation, bylaws, partnership agreement, operating agreement, certificate of formation, certificate of limited partnership or other comparable organizational documents, of the Company or Indemnitee-related
entities, as applicable. 
 Section 10. Form and Delivery of Communications. All notices, requests,
demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) 

  
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delivered by hand, upon receipt by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the
third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier, one day after deposit with such courier and with written verification of receipt, or (d) sent by email transmission, with receipt of
oral confirmation that such transmission has been received. Notice to the Company shall be directed to Academy Sports and Outdoors, Inc., Attention: General Counsel, email: legal@academy.com. Notice to Indemnitee shall be directed to
                                         
                                         
                                         
               
                                         
                                         
                                         
                                         
                                , email:      
                          . 

Section 11. Nonexclusivity. The provisions for indemnification and advancement of expenses set forth
in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under the certificate of incorporation of the Company, the bylaws of the Company, any provision of law, in any court in which a proceeding is brought,
other agreements or otherwise, and Indemnitee’s rights hereunder shall inure to the benefit of the heirs, executors and administrators of Indemnitee. No amendment or alteration of the Company’s certificate of incorporation or bylaws or any
other agreement shall adversely affect the rights provided to Indemnitee under this Agreement. 
 Section 12.
No Construction as Employment Agreement. Nothing contained herein shall be construed as giving Indemnitee any right to be retained as a director of the Company or in the employ of the Company. For the avoidance of doubt, the
indemnification and advancement of expenses provided under this Agreement shall continue as to Indemnitee even though he may have ceased to be a director or officer of the Company. 

Section 13. Interpretation of Agreement. It is understood that the parties hereto intend this
Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by the DGCL. 

Section 14. Entire Agreement. This Agreement and the documents expressly referred to herein constitute
the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the matters covered hereby are expressly superseded by
this Agreement. 
 Section 15. Modification and Waiver. No supplement, modification, waiver or
amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not
similar) nor shall such waiver constitute a continuing waiver. For the avoidance of doubt, this Agreement may not be terminated by the Company without Indemnitee’s prior written consent. 

Section 16. Successor and Assigns. All of the terms and provisions of this Agreement shall be binding
upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company shall require and cause any direct or indirect
successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of its business, equity or assets, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

Section 17. Service of Process and Venue. The Company and Indemnitee hereby (i) irrevocably and
unconditionally agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state
or federal court in the United States of America or any court in any other country, (ii) irrevocably and unconditionally consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out
of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, The Corporation Trust Company, 1209 Orange Street, Wilmington, Delaware 19801, or another
agent, as its agent in the State of Delaware as such party’s agent 

  
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for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State
of Delaware, (iv) irrevocably and unconditionally waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) irrevocably and unconditionally waive, and agree not to plead or to make, any
claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

Section 18. Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware. If a court of competent jurisdiction shall make a final determination that the provisions of the law of any state other than Delaware govern indemnification by the Company of Indemnitee, then the indemnification
provided under this Agreement shall in all instances be enforceable to the fullest extent permitted under such law, notwithstanding any provision of this Agreement to the contrary. 

Section 19. Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original or same counterpart. Signatures transmitted electronically,
including in portable document format (“.pdf”), shall be accepted as originals for all purposes of this Agreement. The words “execution,” “signed,” “signature,” “delivery,” and words of like import
in or relating to this Agreement or any document to be signed in connection with this Agreement shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal
effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by
electronic means. 
 Section 20. Headings; Section References. The section and
subsection headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Except as otherwise indicated, section references herein refer to sections of this
Agreement. 
 [Remainder of Page Intentionally Left Blank; Signatures Follow] 

  
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 This Agreement has been duly executed and delivered to be effective as of the date stated
above. 
  

			
	ACADEMY SPORTS AND OUTDOORS, INC.
		
	By	 	
                     
                                    

	Name:	 	
	Title:	 	
	
	INDEMNITEE:
	
	  

	Name:	 	

 INDEMNIFICATION AGREEMENT 

[Signature Page to Indemnification Agreement]Exhibit 10.2

 

SURO CAPITAL CORP.

(a Maryland corporation)

 

 

AMENDMENT NO. 1 TO

AT-THE-MARKET SALES AGREEMENT

 

 

 

September 23, 2020

BTIG, LLC

600 Montgomery Street, 6th Floor

San Francisco, CA 94111

 

JMP Securities LLC

600 Montgomery Street, 11th Floor

San Francisco, CA 94111

 

Ladenburg Thalmann & Co. Inc.

277 Park Avenue, 26th Floor

New York, New York 10172

 

 

Ladies and Gentlemen:

 

This Amendment No.
1, dated September 23, 2020 (the “Amendment”), is to the At-the-Market Sales Agreement, dated July 29,
2019 (the “Sales Agreement”), by and among SuRo Capital Corp., a Maryland corporation (the “Company”),
BTIG, LLC (“BTIG”), JMP Securities LLC (“JMP”) and Ladenburg Thalmann &
Co. Inc. (“Ladenburg” and, together with BTIG and JMP, the “Agents” and each,
an “Agent”).

 

WHEREAS, the Company
and the Agents desire to amend the Sales Agreement to increase the maximum amount of shares of the Common Stock (as defined below)
that may be issued and sold through the Agents, acting as agents and/or principals, from an aggregate offering price of up to $50,000,000
to an aggregate offering price of up to $150,000,000.

 

NOW THEREFORE, in consideration
of the mutual promises contained in this Amendment and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Amendment, intending to be legally bound, hereby amend the Sales Agreement and agree
as follows:

 

The first paragraph
of Section 1 of the Sales Agreement is replaced in its entirety with the following:

 

     

     

    

 

“The
Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth
herein, it may issue and sell to or through an Agent, as sales agent and/or principal, up to that number of shares of the Company’s
common stock, par value $0.01 per share (the “Common Stock”), having an aggregate offering price of
$150,000,000 (the “Shares”); provided, however, that in no event shall the Company issue or sell
to or through the Agents such number of Shares that would (a) exceed the number or amount of shares of Common Stock then available
for offer and sale under the currently effective Registration Statement (as defined below) pursuant to which the offering hereunder
and under any Terms Agreement (as defined below) is being made or (b) exceed the number of authorized but unissued shares of the
Common Stock (the lesser of (a) and (b), the “Maximum Amount”). Notwithstanding anything to the contrary
contained herein, the Parties acknowledge and agree that compliance with the limitations set forth in this Section 1 on
the Maximum Amount of Shares that may be issued and sold under this Agreement and any Terms Agreement shall be the sole responsibility
of the Company, and that the Agents shall have no obligation in connection with such compliance. The Company agrees that whenever
it determines to sell Shares directly to an Agent, as principal, it will enter into a separate agreement (each, a “Terms
Agreement”) in form and substance as agreed upon by the Company and the Designated Agent (as hereinafter defined)
relating to such sale in accordance with Section 2(b) of this Agreement (each such transaction being referred to as a “Principal
Transaction”). Each transaction pursuant to this Agreement in which the Company determines to sell Shares through
an Agent, as sales agent, is hereinafter referred to as an “Agency Transaction”. The issuance and sale
of Shares to or through the Agents will be effected pursuant to the Registration Statement (as defined below) filed by the Company
and which was declared effective under the Securities Act (as defined below) by the U.S. Securities and Exchange Commission (the
 “Commission”) on July 27, 2020.”

 

Except as set forth
above, no other amendments to the Sales Agreement are intended by the parties thereto, are made, or shall be deemed to be made,
pursuant to this Amendment, and all provisions of the Sales Agreement, including all exhibits thereto, unaffected by this Amendment
shall remain in full force and effect.

 

Each capitalized term
used but not defined herein shall have the meaning ascribed to such term in the Sales Agreement.

 

This Amendment may
be executed in one or more counterparts, each of which shall be deemed an original but all of which together will constitute one
and the same instrument.

 

[Signature Page Follows.]

 

     

     

    

  

If the foregoing is
in accordance with your understanding of our agreement, please so indicate in the space provided below for that purpose, whereupon
this letter shall constitute a binding agreement between the Company and the Agents. 

 

	 	Very truly yours,
	 	 
	 	SURO CAPITAL CORP.
	 	 
	 	 
	 	By:	/s/ Mark Klein
	 	Name: 	Mark Klein
	 	Title:   	Chief Executive Officer and President

 

CONFIRMED AND ACCEPTED, as of

the date first above written:

 

BTIG, LLC

 

	By:	/s/ Dennis King	 
	Name:     	Dennis King	 
	Title:       	Managing Director	 
	 	 

 

JMP Securities LLC 

 

	By:	 /s/ Jorge Solares-Parkhurt	 
	Name:     	Jorge Solares-Parkhurt	 
	Title:       	Managing Director	 

 

 

LADENBURG THALMANN & CO. INC. 

 

	By:	 /s/ Steve Kaplan	 
	Name:     	Steve Kaplan	 
	Title:       	Head of Capital Markets	 

 

[Signature page
to Amendment No. 1 to At-the-Market Sales Agreement]

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