Document:

Exhibit 10.13

 

EMPLOYMENT AGREEMENT

 

This employment agreement (this “Agreement”),
dated as of November 16, 2018 (the “Effective Date”), is made by and between Esports Entertainment Group, Inc., a Nevada
corporation (the “Company”), and Christopher Malone (the “Executive”) (each, a “Party” and together,
the “Parties”).

 

WHEREAS, the Executive is to be employed
as Chief Financial Officer of the Company and its subsidiaries; and

 

WHEREAS, the Parties wish to establish
the terms of the Executive’s employment by the Company;

 

NOW, THEREFORE, in consideration of
the foregoing, of the mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

 

1. POSITION/DUTIES.

 

(a) During the
Employment Term (as defined in Section 2 below), the Executive shall serve as a Chief Financial Officer of the Company and its
subsidiaries. In this capacity the Executive shall have such duties, authorities and responsibilities commensurate with the duties,
authorities and responsibilities of persons in similar capacities in similarly sized companies and such other reasonable duties
and responsibilities as the Chief Executive of the Company (the “CEO”) shall designate. The Executive shall report directly
to the CEO. The Executive shall obey the lawful directions of the CEO and shall use his diligent efforts to promote the interests
of the Company and to maintain and promote the reputation thereof.

 

(b) During the
Employment Term, the Executive shall use his best efforts to perform his duties under this Agreement. The Executive shall devote
most of his business time, energy and skill in the performance of his duties with the Company before the Company’s common
shares commence trading on the NASDAQ Stock Exchange and all his business time, energy and skill in the performance of his duties
with the Company after Company’s common shares commence trading on the NASDAQ Stock Exchange. After Company’s common
shares commence trading on the NASDAQ Stock Exchange, the Executive shall not during the Employment Term (except as a representative
of the Company or with consent in writing of the Board) be directly or indirectly engaged or concerned in any other business activity.
Notwithstanding the foregoing provisions, the Executive is not prohibited from (1) participating in charitable, civic, educational,
professional or community affairs or serving on the board of directors or advisory committees of non-profit entities, and (2) managing
his and his family’s personal investments, in each case, provided that such activities in the aggregate do not materially
interfere with his duties hereunder.

 

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2. EMPLOYMENT
TERM. Except for earlier termination as provided in Section 6, the Executive’s employment under this Agreement
shall be for a one-year term commencing on November 16, 2018 and ending November 15, 2019 (the “Initial Term”).
Subject to Section 6, the Initial Term shall be automatically extended for additional terms of successive one-year periods
(the “Additional Term”) unless the Company or the Executive gives written notice to the other of the termination
of the Executive’s employment hereunder at least 90 days prior to the expiration of the Initial Term or Additional
Term. The Initial Term and any Additional Term shall be referred to herein as the “Employment Term.”

 

3. BASE
SALARY. The Company agrees to pay to the Executive an initial base salary of USD $84,000 annually, payable in accordance
with the regular monthly or bi-monthly payroll practices of the Company. If at any time during the term of this agreement the
Company’s common shares commence trading on the NASDAQ Stock Exchange, the Executive’s salary will increase to a
base salary of USD $120,000 annually, starting the month NASDAQ trading commences. The Executive’s Base Salary shall be
subject to annual review by the Board (or a committee thereof) starting the month NASDAQ trading commences. The base salary
as determined herein from time to time shall constitute “Base Salary” for purposes of this Agreement.

 

4. BONUS.
With respect to each full fiscal year during the Employment Term, the Executive shall be eligible to earn an annual employee
stock option bonus (the “Annual Option Bonus”) in such amount, if any, as determined in the sole discretion of
the Board. In addition, the Executive shall be eligible to participate in the Company’s cash bonus and other incentive
compensation plans and programs (if any) for the Company’s senior executives at a level commensurate with his position
and may be entitled to bonus payments in addition to the amount set forth hereinabove. In addition, the Executive will be
granted a one time bonus issuance of 100,000 common share of the Company at the start of the term of this Agreement.

 

5. EMPLOYEE
BENEFITS.

 

(a) Benefit
Plans. The Executive shall be eligible to participate in any employee benefit plan, if and when the Company adopts a
benefit plan, of the Company, including, but not limited to, equity, pension, thrift, profit sharing, medical coverage,
education, or other retirement or welfare benefits that the Company has adopted or may adopt, maintain or contribute to for
the benefit of its senior executives, at a level commensurate with his positions, subject to satisfying the applicable
eligibility requirements. The Company may at any time or from time to time amend, modify, suspend or terminate any employee
benefit plan, program or arrangement, if and when the Company adopts a benefit plan, for any reason in its sole
discretion.

 

(b) Vacation.
The Executive shall be entitled to an annual paid vacation in accordance with the Company’s policy applicable to senior
executives from time to time in effect, but in no event less than two weeks per calendar year (as prorated for partial
years), which vacation may be taken at such times as the Executive elects with due regard to the needs of the Company. The
carry-over of vacation days shall be in accordance with the Company’s policy applicable to senior executives from time
to time in effect.

 

(c) Business
and Entertainment Expenses. Upon presentation of appropriate documentation, the Executive shall be reimbursed for ONLY
preapproved, reasonable and necessary business and entertainment expenses incurred in connection with the performance of his duties
hereunder, all in accordance with the Company’s expense reimbursement policy applicable to senior executives from time to time
in effect.

 

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6. TERMINATION.
The Executive’s employment and the Employment Term shall terminate on the first of the following to occur:

 

(a) Disability.
The thirtieth (30th) day following written notice by the Company to the Executive of termination due to Disability. For
purposes of this Agreement, “Disability” shall mean a determination by the Company in accordance with applicable
law that due to a physical or mental injury, infirmity or incapacity, the Executive is unable to perform the essential
functions of his job with or without accommodation for 180 days (whether or not consecutive) during any 12-month period.

 

(b) Death.
Automatically on the date of death of the Executive.

 

(c) Cause.
Immediately upon written notice by the Company to the Executive of a termination for Cause. “Cause” shall mean,
as determined by the Board (or its designee) (1) conduct by the Executive in connection with his employment duties or
responsibilities that is fraudulent, unlawful or grossly negligent; (2) the willful misconduct of the Executive; (3) the
willful and continued failure of the Executive to perform the Executive’s duties with the Company (other than any such
failure resulting from incapacity due to physical or mental illness); (4) the commission by the Executive of any felony (or
the equivalent under the law of Nevada (other than traffic-related offenses) or any crime involving moral turpitude; (5)
violation of any material policy of the Company or any material provision of the Company’s code of conduct, employee
handbook or similar documents; or (6) any material breach by the Executive of any provision of this Agreement or any other
written agreement entered into by the Executive with the Company.

 

(d) Without
Cause. The Company can terminate the Executive without cause at any time during the first ninety (90) days of the
original term of this agreement. The Company can terminate the Executive without cause at any time with ninety (90) written
notice by the Company to the Executive.

 

(e) Good
Reason. On the sixtieth (60th) day following written notice by the Executive to the Company of a termination for Good
Reason. “Good Reason” shall mean, without the express written consent of the Executive, the occurrence of any the
following events unless such events are cured (if curable) by the Company within fifteen days following receipt of written
notification by the Executive to the Company that he intends to terminate his employment hereunder for one of the reasons set
forth below: any material reduction or diminution (except temporarily during any period of incapacity due to physical or
mental illness) in the Executive’s title, authorities, duties or responsibilities or reporting requirements with the
Company.

 

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7. CONSEQUENCES
OF TERMINATION.

 

(a) Disability.
Upon termination of the Employment Term because of the Executive’s Disability, the Company shall pay or provide to the
Executive (1) any unpaid Base Salary and any accrued vacation through the date of termination; (2) any unpaid Annual Bonus
accrued with respect to the fiscal year ending on or preceding the date of termination; (3) reimbursement for any
unreimbursed expenses properly incurred through the date of termination; and (4) all other payments or benefits to which the
Executive may be entitled under the terms of any applicable employee benefit plan, program or arrangement (collectively,
“Accrued Benefits”).

 

(b) Death.
Upon the termination of the Employment Term because of the Executive’s death, the Executive’s estate shall be
entitled to any Accrued Benefits.

 

(c) Termination
for Cause. Upon the termination of the Employment Term by the Company for Cause or by either party in connection with a
failure to renew this Agreement, the Company shall pay to the Executive any Accrued Benefits.

 

(d) Termination
without Cause or for Good Reason. Upon the termination of the Employment Term by the Company without Cause or by the
Executive with Good Reason, the Company shall pay or provide to the Executive (1) the Accrued Benefits, and (2) subject to
the Executive’s execution (and non-revocation) of a general release of claims against the Company and its affiliates in
a form reasonably requested by the Company, (A) continued payment of his Base Salary for one (1) month for each full year of
employment after termination, payable in accordance with the regular payroll practices of the Company, but off the payroll;
and (B) payment of the Executive’s cost of continued medical coverage one (1) month for each full year of employment
after termination, if any such coverage is in place at the time of notice of termination (subject to the Executive’s
co-payment of the costs in the same proportion as such costs were shared immediately prior to the date of
termination).2 Payments provided under this Section 7(d) shall be in lieu of any termination or severance payments or
benefits for which the Executive may be eligible under any of the plans, policies or programs of the Company.

 

8. NO
ASSIGNMENT. This Agreement is personal to each of the Parties. Except as provided below, no Party may assign or delegate
any rights or obligations hereunder without first obtaining the written consent of the other Party
hereto; provided, however, that the Company may assign this Agreement to any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of
the Company.

 

9. NOTICES.
For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing
and shall be deemed to have been duly given (1) on the date of delivery if delivered by hand, (2) on the date of
transmission, if delivered by confirmed facsimile, (3) on the first business day following the date of deposit if delivered
by guaranteed overnight delivery service, or (4) on the fourth business day following the date delivered or mailed by
registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

If to the Executive:

 

At the address (or to the facsimile
number) shown on the records of the Company

 

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If to the Company:

 

Esports Entertainment Group, Inc.

Commercial Centre, Jolly Harbour

St. Mary’s, Antigua and Barbuda

 

or to such other address as either
Party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective
only upon receipt.

 

10. PROTECTION
OF THE COMPANY’S BUSINESS.

 

(a) Confidentiality.
The Executive acknowledges that during the course of his employment by the Company (prior to and during the Employment Term)
he has and will occupy a position of trust and confidence. The Executive shall hold in a fiduciary capacity for the benefit
of the Company and shall not disclose to others or use, whether directly or indirectly, any Confidential Information
regarding the Company, except (i) as in good faith deemed necessary by the Executive to perform his duties hereunder, (ii) to
enforce any rights or defend any claims hereunder or under any other agreement to which the Executive is a
party, provided that such disclosure is relevant to the enforcement of such rights or defense of such claims
and is only disclosed in the formal proceedings related thereto, (iii) when required to do so by a court of law, by any
governmental agency having supervisory authority over the business of the Company or by any administrative or legislative
body (including a committee thereof) with jurisdiction to order him to divulge, disclose or make accessible such
information, provided that the Executive shall give prompt written notice to the Company of such
requirement, disclose no more information than is so required, and cooperate with any attempts by the Company to obtain a
protective order or similar treatment, (iv) as to such Confidential Information that shall have become public or known in the
Company’s industry other than by the Executive’s unauthorized disclosure, or (v) to the Executive’s spouse,
attorney and/or his personal tax and financial advisors as reasonably necessary or appropriate to advance the
Executive’s tax, financial and other personal planning (each an “Exempt
Person”), provided, however, that any disclosure or use of Confidential
Information by an Exempt Person shall be deemed to be a breach of this Section 10(a) by the Executive. The Executive shall
take all reasonable steps to safeguard the Confidential Information and to protect it against disclosure, misuse, espionage,
loss and theft. The Executive understands and agrees that the Executive shall acquire no rights to any such
Confidential Information. “Confidential Information” shall mean information about the Company, its subsidiaries
and affiliates, and their respective clients and customers that is not disclosed by the Company and that was learned by the
Executive in the course of his employment by the Company, including, but not limited to, any proprietary knowledge, trade
secrets, data and databases, formulae, sales, financial, marketing, training and technical information, client, customer,
supplier and vendor lists, competitive strategies, computer programs and all papers, resumes, and records (including computer
records) of the documents containing such Confidential Information.

 

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(b) Non-Competition. During
the Employment Term and for the one-year period following the termination of the Executive’s employment for any reason
(the “Restricted Period”), the Executive shall not, directly or indirectly, without the prior written consent of
the Company, provide employment (including self-employment), directorship, consultative or other services to any business,
individual, partner, firm, corporation, or other entity that competes with any business conducted by the Company or any of
its subsidiaries or affiliates on the date of the Executive’s termination of employment or within one year of the
Executive’s termination of employment in the geographic locations where the Company and its subsidiaries or affiliates
engage or propose to engage in such business (the “Business”). Nothing herein shall prevent the Executive from
having a passive ownership interest of not more than 2% of the outstanding securities of any entity engaged in the Business
whose securities are traded on a national securities exchange.

 

(c) Non-Solicitation
of Employees. The Executive recognizes that he possesses and will possess confidential information about other employees
of the Company and its subsidiaries and affiliates relating to their education, experience, skills, abilities, compensation and
benefits, and inter-personal relationships with customers of the Company and its subsidiaries and affiliates. The Executive recognizes
that the information he possesses and will possess about these other employees is not generally known, is of substantial value
to the Company and its subsidiaries and affiliates in developing their business and in securing and retaining customers and has
been and will be acquired by him because of his business position with the Company. The Executive agrees that, during the Restricted
Period, he will not, directly or indirectly, (i) solicit or recruit any employee of the Company or any of its subsidiaries
or affiliates (a “Current Employee”) or any person who was an employee of the Company or any of its subsidiaries or affiliates
during the twelve (12) month period immediately prior to the date the Executive’s employment terminates (a “Former Employee”)
for the purpose of being employed by him or any other entity, or (ii) hire any Current Employee or Former Employee.

 

(d) Non-Solicitation
of Customers. The Executive agrees that, during the Restricted Period, he will not, directly or indirectly, solicit or
attempt to solicit (i) any party who is a customer or client of the Company or its subsidiaries, who was a customer or client of
the Company or its subsidiaries at any time during the twelve (12) month period immediately prior to the date the Executive’s employment
terminates or who is a prospective customer or client that has been identified and targeted by the Company or its subsidiaries
for the purpose of marketing, selling or providing to any such party any services or products offered by or available from the
Company or its subsidiaries, or (ii) any supplier or vendor to the Company or any subsidiary to terminate, reduce or alter negatively
its relationship with the Company or any subsidiary or in any manner interfere with any agreement or contract between the Company
or any subsidiary and such supplier or vendor.

 

(e) Property.
The Executive acknowledges that all originals and copies of materials, records and documents generated by him or coming into his
possession during his employment by the Company or its subsidiaries are the sole property of the Company and its subsidiaries (“Company
Property”). During the Employment Term, and at all times thereafter, the Executive shall not remove, or cause to be removed,
from the premises of the Company or its subsidiaries, copies of any record, file, memorandum, document, computer related information
or equipment, or any other item relating to the business of the Company or its subsidiaries, except in furtherance of his duties
under this Agreement. When the Executive’s employment with the Company terminates, or upon request of the Company at any time,
the Executive shall promptly deliver to the Company all copies of Company Property in his possession or control.

 

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(f) Non-Disparagement.
Executive shall not, and shall not induce others to, Disparage the Company or its subsidiaries or affiliates or their past
and present officers, directors, employees or products. “Disparage” shall mean making comments or statements to
the press, the Company’s or its subsidiaries’ or affiliates’ employees or any individual or entity with
whom the Company or its subsidiaries or affiliates has a business relationship which would adversely affect in any manner (1)
the business of the Company or its subsidiaries or affiliates (including any products or business plans or prospects), or (2)
the business reputation of the Company or its subsidiaries or affiliates, or any of their products, or their past or present
officers, directors or employees.

 

(g) Cooperation.
Subject to the Executive’s other reasonable business commitments, following the Employment Term, the Executive shall be
available to cooperate with the Company and its outside counsel and provide information with regard to any past, present, or
future legal matters which relate to or arise out of the business the Executive conducted on behalf of the Company and its
subsidiaries and affiliates, and, upon presentation of appropriate documentation, the Company shall compensate the Executive
for any out-of-pocket expenses reasonably incurred by the Executive in connection therewith.

 

(h) Equitable
Relief and Other Remedies. The Executive acknowledges and agrees that the Company’s remedies at law for a breach or
threatened breach of any of the provisions of this Section 10 would be inadequate and, in recognition of this fact, the
Executive agrees that, in the event of such a breach or threatened or attempted breach, in addition to any remedies at law,
the Company, without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance, a
temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available.
In addition, without limiting the Company’s remedies for any breach of any restriction on the Executive set forth in
this Section 10, except as required by law, the Executive shall not be entitled to any payments set forth in Section 7(d)
hereof if the Executive has breached the covenants applicable to the Executive contained in this Section 10, the Executive
will immediately return to the Company any such payments previously received under Section 7(d) upon such a breach, and, in
the event of such breach, the Company will have no obligation to pay any of the amounts that remain payable by the Company
under Section 7(d).

 

(i) Reformation.
If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 10 is excessive in
duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that
such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law
of that state. The Executive acknowledges that the restrictive covenants contained in this Section 10 are a condition of this
Agreement and are reasonable and valid in temporal scope and in all other respects.

 

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(j) Survival
of Provisions. The obligations contained in this Section 10 shall survive in accordance with their terms the termination
or expiration of the Executive’s employment with the Company and shall be fully enforceable thereafter.

 

11. INDEMNIFICATION.
The Executive shall be indemnified to the extent permitted by the Company’s organizational documents and to the extent required
by law.

 

12. SECTION
HEADINGS AND INTERPRETATION. The section headings used in this Agreement are included solely for convenience and shall
not affect, or be used in connection with, the interpretation of this Agreement. Expressions of inclusion used in this agreement
are to be understood as being without limitation.

 

13. SEVERABILITY.
The provisions of this Agreement shall be deemed severable and the invalidity of unenforceability of any provision shall not
affect the validity or enforceability of the other provisions hereof.

 

14. COUNTERPARTS.
This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same Agreement.

 

15. GOVERNING
LAW AND VENUE. The validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of Nevada without regard to its conflicts of law principles. The Parties agree irrevocably to submit to the exclusive
jurisdiction of the courts located in the Nevada, for the purposes of any suit, action or other proceeding brought by any
Party arising out of any breach of any of the provisions of this Agreement and hereby waive, and agree not to assert by way
of motion, as a defence or otherwise, in any such suit, action, or proceeding, any claim that it is not personally subject to
the jurisdiction of the above-named courts, that the suit, action or proceeding is brought in an inconvenient forum, that the
venue of the suit, action or proceeding is improper, or that the provisions of this Agreement may not be enforced in or by
such courts. IN ADDITION, THE PARTIES AGREE TO WAIVE A TRIAL BY JURY.

 

16. ENTIRE
AGREEMENT. This Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes
all prior agreements, written or oral, with respect thereto. No agreements or representations, oral or otherwise, express or implied,
with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement.

 

17. WAIVER
AND AMENDMENT. No provision of this Agreement may be modified, amended, waived or discharged unless such waiver,
modification, amendment or discharge is agreed to in writing and signed by the Executive and such officer or director as may
be designated by the Board. No waiver by either Party at any time of any breach by the other Party hereto of, or
compliance with, any condition or provision of this Agreement to be performed by such other Party shall be deemed a waiver or
similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

 

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18. WITHHOLDING.
The Company may withhold from any and all amounts payable under this Agreement such federal, state, local and foreign taxes
as may be required to be withheld pursuant to any applicable law or regulation.

 

19. AUTHORITY
AND NON-CONTRAVENTION. The Executive represents and warrants to the Company that he has the legal right to enter into
this Agreement and to perform all of the obligations on his part to be performed hereunder in accordance with its terms and that
he is not a party to any agreement or understanding, written or oral, which could prevent him from entering into this Agreement
or performing all of his obligations hereunder.

 

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

 

21. TERMINATION
OF EXCHANGE AGREEMENT. In the event that the consummation of the Acquisition does not occur and the Exchange Agreement terminates
pursuant to its term, the terms of employment contained herein shall be null and void, or if the Executive’s employment with the
Company terminates prior to the consummation of the Acquisition, the terms contained herein shall be null and void unless the Company
agrees otherwise, in its sole discretion.

 

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INTENTIONALLY LEFT BLANK]

 

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

 

ESPORTS ENTERTAINMENT GROUP, INC.

 

	/s/ Grant Johnson	 
	By:    Grant Johnson	 
	Title: Chief Executive Officer	 

 

	EXECUTIVE	 
	 	 
	/s/ Christopher Malone	 
	By:    Christopher Malone	 
	Title: Chief Financial Officer	 

 

 

10Exhibit
10.15

 

ANTIGUA
AND BARBUDA

Registered
Land Act, 1975

 

LEASE

 

	REGISTRATION
    SECTION	BLOCK	PARCEL
	 	 	 
	South
    West	55
    1186A	845

 

WE,
CARIBBEAN DEVELOPMENTS (ANTIGUA) LTD. (hereinafter  “the  Lessor”)  HEREBY  LEASE
to H & H ARIZONA CORPORATION (hereinafter “the Lessee,,) a portion of that parcel of land and the improvements
thereon comprised in the above-mentioned title, which is shown on the Registry Map as parcel number 845 which is more particularly
described that portion shaded red in the first schedule, Units 12 & 13 Block D (hereinafter “the Premises)
hereto for a term of THREE YEARS (3) from the 1st May 2017 terminating on the 30TH day of April, 2020 at
the rental described in the fourth schedule hereto, with an option to renew for a further term of two year.

 

		1.1	All
                                         rents under this Lease shall be payable monthly in Advance and clear of all deductions
                                         on the 1st day of each month.

 

		1.2	The
                                         Lessee shall pay the Lessor the sum of NINE THOUSAND FOUR HUNDRED THIRTY EIGHT DOLLARS
                                         AND TWENTY FOUR CENTS EC$ 9438.24 (being the deposit for both units) and FOUR
                                         THOUSAND SEVEN HUNDRED NINETEEN DOLLARS AND TWELVE CENTS EC$4,719.12 (being the first
                                         month rent for both units) upon the execution hereof. This sum shall be repayable by
                                         the Lessor to the Lessee upon the termination of this lease subject to any lien which
                                         the Lessor may have in respect of any breaches hereunder by the Lessee.

 

		2.	THE
                                         LESSEE HEREBY COVENANTS WITH THE LESSOR AS FOLLOWS:

 

		(a)	To
                                         pay the rent hereby reserved on the days and in the manner aforesaid without any deduction
                                         and in the event that any rent hereby reserved shall remain unpaid for more than seven
                                         (7) days after the date upon which the same becomes due, (whether formally demanded or
                                         not), (which sum together with any other amounts of rent then unpaid are hereinafter
                                         referred to as “the unpaid rent”) to pay interest on the unpaid rent compounded
                                         at the rate of two percent (2 % ) per month for the first calendar month from the date
                                         upon which the same became payable, and at the rate of four percent (4%) per month for
                                         the second calendar month after the date upon which the same became payable, and at the
                                         rate of five percent (5%) per month for any period thereafter until the date of payment.

 

     

     

    

 

		(b)	At
                                         all times during the subsistence of this Lease, to maintain and upkeep the interior of
                                         the buildings of the Premises and the Lessors fixtures, fittings and equipment listed
                                         in the Fifth Schedule hereto in good and tenantable repair, order and condition and not
                                         to cut, maim, damage or deface, any part thereof or to undertake any structural alteration
                                         to the same without the prior written permission of the Lessor.

 

		(c)	To
                                         keep the Premises (including such part or parts thereof as shall not be built on) in
                                         a clean and tidy condition and properly cleaned and in particular, to clean all the windows
                                         (both inside and out) and all other glass in or on the premises at least once in every
                                         month.

 

		(d)	At
                                         the date of termination of this tenancy, to deliver up the Premises to the Lessor in
                                         good and tenantable repair order and condition.

 

		(e)	To
                                         use the Premises for an INTERNET GAMING COMPANY and for no other purpose whatsoever.

 

		(f)	To
                                         keep the Premises open for business specified in paragraph (d) during the subsistence
                                         of this lease and not to permit or suffer the premises to remain vacant of staff or stock
                                         necessary for the business and in any event to keep the premises open during regular
                                         hours and on all days agreed to in writing by the Lessor.

 

		(g)	Not
                                         to permit the level of noise, dust, smoke or other similar substances emanating from
                                         the Premises to be or become a nuisance or annoyance to the Lessor or to the occupants
                                         of any other premises in the neighborhood nor otherwise to carry on in or upon the Premises
                                         any noisome trade, business or undertaking, nor to do or permit or suffer to be done
                                         thereon, anything which may be or become a nuisance, annoyance or damage to the Lessor
                                         or to the occupiers of any other premises in the neighborhood.

 

		(h)	Not
                                         to alter in any way the exterior of the Premises, nor to affix thereto any advertising
                                         material, name board or other announcement, without the prior written permission of the
                                         Lessor.

 

		(i)	Not
                                         to make any alterations or additions to the interior of the premises or any part thereof
                                         except those alterations or additions which may be agreed in writing with the Lessor.
                                         Any such alterations or additions shall be undertaken by the Lessee subject in all respects
                                         to the covenants herein contained and at the cost of the Lessee in a workmanlike manner
                                         to the satisfaction of the Lessor with the best materials available and in accordance
                                         with drawings and specifications previously approved in writing by the Lessee. The Lessee
                                         agrees that this Agreement constitutes valuable consideration for the foregoing covenant
                                         and that the Lessee shall not be entitled to compensation in respect of the said works
                                         either upon quitting the Premises or at any other time.

 

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		(u)	That
                                         no figure, letter, pole, flag, signboard, advertisement, inscription, bill, placard or
                                         sign whatsoever, shall be attached to or exhibited in, on or to the Premises or the windows
                                         thereof so as to be seen from the exterior without the previous written consent of the
                                         Lessor which shall not be unreasonably withheld in respect of a sign stating the Lessee’s
                                         name and business or profession (such sign if the Lessor so requires to be removed and
                                         any damage caused thereby made good by the Lessee at the end or sooner determination
                                         of this Lease). To be responsible for the installation of additional telephone, electricity
                                         and water supplies if it shall require such services and to pay all monies due in respect
                                         of the services used by it during the said term. Such services shall be installed in
                                         a safe and proper manner in accordance with acceptable building codes and the design
                                         of any part of the installation which shall be outside the building shall be subject
                                         to the prior written approval of the Lessor.

 

		(k)	Not
                                         to store or keep upon the Premises any article of a combustible inflammable or dangerous
                                         nature and not to do or to permit or suffer to be done anything by reason whereof the
                                         present or any future policy of insurance against fire on the building of which the Premises
                                         form part, may be rendered void or void able or whereby the rate of premium thereon may
                                         be increased.

 

		(1)	To
                                         permit the Lessor and its agents, employees and servants with or without workmen and
                                         others and with all necessary appliances at all times with reasonable prior notice which
                                         shall (except in an emergency) be not less that forty-eight (48) hours to enter into
                                         and upon the Premises to examine the state and condition thereof and to carry out and
                                         execute all such repairs as may be necessary in pursuance of the Lessor’s obligations
                                         under this lease.

 

		(m)	Not
                                         at any time during the Term to assign, underlet, charge or otherwise part with the possession
                                         of any part (being less than the whole) of the Premises and not at any time during this
                                         Agreement to assign, underlet, charge or otherwise part with the possession of the Premises
                                         as a whole, except with previous written consent of the Lessor and subject to such conditions
                                         and stipulations as may be specified in any such consent. Such conditions may include
                                         a requirement that any proposed assignee or under lessee enters into covenants direct
                                         with the Lessor and that a copy of any relevant assignment, under lease or charge be
                                         delivered to the Lessor without delay. No failure on the part of the Lessor to act upon
                                         any unauthorized assignment, under letting or charge shall operate as waiver or acquiescence
                                         on the part of the Lessor.

 

    3

     

    

 

		(n)	To
                                         indemnify the Lessor against all claims by and liabilities to third parties in respect
                                         of personal injury and damage to property insofar as any such claims or liabilities arise
                                         out or are connected with the Lessee’s occupation of the Premises and to indemnify
                                         the Lessor against an actions, proceedings, damages, costs, charges, expenses or payments
                                         taken against or payable or incurred or made by the Lessor in respect of any such claims
                                         or liabilities. In this Clause “personal injury” means injury to any person
                                         other than the Lessee and the Lessor and includes (without prejudice to the generality
                                         of the foregoing) injury to employees, servants, agents and contractors of the Lessee
                                         and of the Lessor.

 

		(o)	To
                                         comply with all reasonable regulations made by the Lessor from time to time for the management
                                         of the Premises or of the Lessor’s adjoining or neighboring property or any land
                                         or premises used or to be used in common or jointly with any other person.

 

		(p)	To
                                         keep the interior of the premises including all windows and doors and all plumbing and
                                         fittings , pipes and sanitary and water apparatus and electrical equipment used upon
                                         the premises in good and tenantable repair and condition and in the case of a restaurant
                                         or bar to install, maintain and keep clear such grease traps in the drainage system as
                                         the Lessor may from time to time demand in writing. And to carry out such repairs within
                                         one month after receiving from the Less or written notice of any want and repair in a
                                         proper and workmanlike manner provided always that If the Lessee shall neglect to carry
                                         out the said repairs, to repay the Lessor all expenses incurred by him in the execution
                                         of such repairs (the amount in case of any difference to be determined by the Lessor’s
                                         architect) and in default of such payment, the same shall be forthwith recoverable in
                                         the same manner as any rent unpaid.

 

		(q)	(i) 	At a ll times during the Tenancy at the Lessee’s own expense , to observe and comply in all respects with
the provisions and requirements of any and every enactment (which express ion in this covenant includes as well, any and
every Act of Parliament already hereafter to be passed as any and every notice, direction,
                                         order, regulation, by-law, rules and condition already or hereafter to be made under
                                         or in pursuance of or deriving effect from any such Act or prescribed or required by
                                         any public, local or other authority) so far as they relate to or affect the Premises
                                         or the Lessor or the Lessee thereof or any additions or improvements thereto or the user
                                         thereof for any purposes or the employment therein of any person or persons or any fixtures,
                                         machinery, plant or chattels for the time being affixed there to or being thereupon or
                                         used for the purposes thereof.

 

    4

     

    

 

		(ii)	To
                                         execute all works and provide and maintain all arrangements which by or under any enactment
                                         or by any Government Department, Local Authority or other Public Authority or duly authorized
                                         Officer or Court of competent jurisdiction acting under or in pursuance of any enactment
                                         are or may be directed or required to be executed provided or maintained at any time
                                         during the said term upon or in respect of the Premises or any additions or improvements
                                         thereto or any premises used for the purpose of but not comprised in the Premises or
                                         in respect of any user thereof or employment therein of any person or persons or fixtures,
                                         machinery, plant or chattels and whether by the Lessor or the Lessee.

 

		(iii)	To
                                         indemnify the Lessor at all times against all costs, charges and expenses of or incidental
                                         to the execution of any works or the provision or maintenance of any arrangements so
                                         directed or required as aforesaid in so far as they relate to the occupation or continued
                                         occupation of the Premises howsoever and not at any time during the Term to do omit or
                                         omit or suffer to be done or omitted in or about the Premises any act or thing by reason
                                         of which the Lessor may, under any enactment incur or have imposed upon it or become
                                         liable to pay any penalty, damages, compensation, costs, charges or expenses.

 

		(iv)	To
                                         pay to the Lessor upon demand, a due proportion (of all costs, charges and expenses (including
                                         surveyors, architects and other professional advisers fees) incurred by the Lessor of
                                         or incidental to:

 

		(1)	complying
                                         with all provisions and requirements of any and every enactment or prescribed or required
                                         by any public, local or other authority; and executing all works and providing all arrangements
                                         which may be directed or required as aforesaid so far as the same relate to any premises
                                         capable of being used or enjoyed by the Tenant in common or jointly with any other person
                                         or persons or the user thereof.

 

    5

     

    

 

		(2)	within
                                         seven days of the receipt of Notice of the same, to give full particulars to the Lessor
                                         of any permission, notice, order or proposal for a notice or order relevant to the Premises
                                         or to the use or condition thereof or otherwise concerning the Lessee made, given or
                                         issued to the Lessee or the occupier of the Premises by any Government department or
                                         local or public authority and if so required by the Lessor to produce such permission,
                                         notice, order or proposal to the Lessor and also without delay to take all reasonable
                                         or necessary steps to comply therewith and also at the request of the Lessor to make
                                         or join with the Lessor in making such obligations or representations against or in respect
                                         of any such notice, order or proposal as aforesaid as the Lessor shall deem expedient.

 

		(r)	To
                                         keep the premises neat, clean and tidy and to ensure that all refuse and garbage is properly
                                         deposited in the collection areas reserved therefore from time to time.

 

		(s)	To
                                         insure with a reputable Insurance Company registered to do business in Antigua and Barbuda
                                         and designated by the Lessor for the following risks:

 

		(i)	Public
                                         Liability in a sum of not less than three hundred fifty thousand dollars ($350,000.00)
                                         East Caribbean Currency, per event in or upon the leased premises.

 

		(ii)	Workman’s
                                         Compensation for employees at the leased premises.

 

		(iii)	Damage
                                         and loss to neighboring premises and lessees from:

 

		(a)	Overflow
                                         of water or waste due to burst pipes, drains and overflow of drains or water.

 

		(b)	Damage
                                         and loss to neighboring premises and lessees resulting from fire starting in the leased
                                         premises as a result of the Lessee’s or his servants’ or agents negligence.

 

		(c)	Damage
                                         to the leased premises’ windows from risks not attributed to hurricane and earthquake.

 

		(t)	To
                                         install and maintain a smoke detection system approved in writing by the Lessor but not
                                         to exceed two hundred dollars ($200.00) United States Currency in cost.

 

    6

     

    

 

		(u)	in
                                         the event of a hurricane watch and warning being issued for Antigua , such directions
                                         may include an obligation being imposed on the tenant to secure the leased premises by
                                         sealing the premises by boarding or otherwise any such directions to comply with guidelines
                                         established and agreed to by the Lessor and the Jolly Harbour Merchants Association.

 

		(v)	To
                                         pay Antigua & Barbuda Sales Tax to the Lessor in respect of the rent payable hereunder.
                                         Said payment shall be deemed to be rent payable hereunder.

 

		(w)	To
                                         pay to the Lessor such monthly sum on the 1st day of each month of the term hereby created
                                         as may be designated by the Jolly Harbour Merchants Association for the latter’s
                                         benefit for dues.

 

		3.	THE
                                         LESSOR HEREBY COVENANTS WITH THE TENANTS AS FOLLOWS:

 

		(a)	That the Lessee paying the rent hereby reserved and performing and observing the several
                                         covenants provisions and stipulations on its part herein contained shall peaceably hold,
                                         possess and enjoy the Premises during the Term without disturbance or interruption by
                                         the Lessor or any person rightfully claiming through under or in trust for the Lessor.

 

		(b)	To
                                         pay all rates and other impositions imposed or levied on the premises by the Government of Antigua with the exception of charges for electricity, water, telephone and any
                                         other services rendered to the Lessee.

 

		(c)	To
                                         maintain in good and tenantable repair and to be responsible for all necessary repairs
                                         to the exterior thereof and to maintain the development known as Jolly Harbour.

 

		(d)	To
                                         insure the Premises and to keep the same insured during the term or terms hereby created
                                         against fire, hurricane, earthquake and other perils.

 

		(e)	Not
                                         with standing anything contained herein, the Less or shall be responsible for any expense
                                         resulting from the failure of the Less or to comply with any provisions of the law.

 

    7

     

    

 

		4.	PROVIDED
                                         ALWAYS AND IT IS HEREBY AGREED AND DECLARED as follows:

 

		(a)	If
                                         the rent hereby reserved or any part thereof shall at any time be unpaid for fourteen
                                         (14) days after becoming payable (whether formally or legally demanded or not) and same
                                         is not remedied after seven (7) days’ notice to do so from the Lessor or if any
                                         of the covenants on the part of the Lessee herein contained shall not be performed or
                                         observed by the Lessee or if the Lessee shall become bankrupt or have a receiving order
                                         made against it or enter into receivership or liquidation or any arrangement or composition
                                         for the benefit of its creditors or if any distress or process of execution shall be
                                         levied upon the Lessee’s goods on the Premises or if the Lessee or any Director
                                         or Officer of the Lessee shall be convicted in a Court of Law in Antigua or elsewhere
                                         of any felony then in any of the said cases, it shall be lawful for the Lessor at any
                                         time thereafter to re-enter upon the Premises or any part thereof in the name of the
                                         whole and seal and lock same and exclude the Lessee therefore and thereupon this Tenancy
                                         shall absolutely determine but without prejudice to any right of action of the Lessor
                                         in respect of any antecedent breach of the covenants on the part of the Lessor herein
                                         contained.

 

		(b)	Any
                                         Notice to the Lessor shall be sufficiently served if served on the premises hereby leased
                                         or if sent by registered mail to its Registered Office and any Notice to the Lessee shall
                                         be sufficiently served if sent to the Lessee by above or any other address notified in
                                         writing to the Lessor or in the case of a Limited Company to the premises hereby leased
                                         or its Registered Office or to its Solicitors.

 

		(c)	If
                                         during the Term, the property taxes or similar taxes imposed or levied on the premises
                                         by the Government of Antigua or other competent authority shall be increased, then and
                                         in such case, the rent hereby reserved shall be automatically increased by the amount
                                         of such additional taxes prorated accordingly.

 

		(d)	As
                                         further consideration, hereof, the Lessee shall pay the Lessor in consideration of the
                                         Lessor or its agents providing meter utility reading and billing services as a monthly
                                         basis, a sum equivalent to no more than ten percent (10%) of each utility bill in respect
                                         of each utility bill which sum shall for these purposes be deemed to be a part of the
                                         rent and the Lessee’s failure to pay same shall have the like consequences as if
                                         it were a failure to pay any rent due.

 

    8

     

    

 

		(e)	The
                                         Lessee shall, within fourteen (14) days of the end of each month hereof, pay the Lessor
                                         in respect of each month of the term hereby created, a sum equivalent to twenty percent
                                         (20%) of the Lessee’s rent for sewage and refuse disposal, costs and maintenance
                                         of common areas at Jolly Harbour, which sum shall, for these purposes be deemed to be
                                         a part of the rent and the Lessee’s failure to pay same shall have the like consequences
                                         as if it were a failure to pay any rent due.

 

		(f)	The
                                         Lessor may, at its option, direct how, where and when the Lessee disposes of its own
                                         refuse at its own expense.

 

		5.	If
                                         at any time during the continuance of the Agreement, control of the Lessee being a Company,
                                         shall change by reason of a transfer of ownership of shares in the Lessee, then following
                                         such transfer of control (unless it shall first have been approved by the Lessor in writing)
                                         it shall be lawful for the Lessor immediately or at any time thereafter to enter upon
                                         the premises or any part thereof in the name of the whole and thereupon this Agreement
                                         shall absolutely determine but without prejudice to any other rights of the Lessor hereunder.

 

		6.	The
                                         covenants on the part of the Lessee herein including the covenant to pay rent are hereby
                                         guaranteed by MR. RON CHAPMAN of and any sum due and owing under this Lease by
                                         the Lessee to the Lessor if owing for more than thirty (30) days, shall be paid by the
                                         Guarantor forthwith upon written demand made therefore and shall for all purposes be
                                         deemed a liquidated sum. Any Guarantor hereof may with the written consent of the Lessee
                                         be replaced by any other person.

 

		7.	For
                                         the avoidance of doubt, the provisions of the Rent Restriction Act Cap. 827 shall not
                                         apply to this Lease.

 

		8.	Sections
                                         52 to 55 of the Registered Land Act shall not apply hereto.

 

		9.	If
                                         the lessee intends to renew this lease, the lessee shall give to the Lessor written notice
                                         of this intention no less than 3 calendar months prior to the expiration of this lease
                                         and with the approval of the Lessor the said lease will be renewed at an increase of
                                         5% over the previous year’s rent. Provided that any such new lease shall not contain
                                         this clause and shall not exceed a term of one year.

 

    9

     

    

 

		10.	Either
                                         the Lessor or Lessee may terminate this lease by serving a Break Notice at any time on
                                         or after the first 12 months of this lease on the other party.

 

		11.	A
                                         Break Notice served by the Lessee shall be of no effect if, at the Break Date:

 

		(a)	the
                                         Lessee has not paid any part of the Monthly Rent, or any ABST in respect of it, which
                                         was due to have been paid; or

 

		(b)	vacant
                                         possession of the whole of the Property is not given; or

 

		(c)	there
                                         is a subsisting material breach of any of the lessee covenants of this lease relating
                                         to the state of repair and condition of the Property.

 

		12.	Subject
                                         to clause 10, following service of a Break Notice this lease shall terminate on the Break
                                         Date.

 

		13.	Termination
                                         of this lease on the Break Date shall not affect any other right or remedy that either
                                         party may have in relation to any earlier breach of this lease.

 

		14.	If
                                         this lease terminates in accordance with clause 11 then, within 14 days after the Break
                                         Date, the Lessor shall refund to the Lessee the proportion of the Monthly Rent, and any
                                         ABST paid in respect of it, for the period from and excluding the Break Date up to and
                                         excluding the next Rent Payment Date, calculated on a daily basis.

 

		15.	This
                                         lease may be terminated by the Lessor with 3 calendar months written notice in the event
                                         that the Lessor enters into an agreement for the sale of the Premises or for the sale
                                         of the majority of the shares in the Lessor company

 

    10

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Lease to be duly executed the 29th day of May 2017.

 

 

    11

     

    

 

THE
FIRST SCHEDULE

 

The
area shaded RED containing 322.92 square feet being a portion of the building and deck a plan of which is shown below,
all being a part of Block 55 1186A of South West Registration Section.

 

 

    12

     

    

 

THE
SECOND SCHEDULE

 

Rights
and Easements Granted

 

The
right (in so far as the Lessor has power to grant the same) for the Lessee, its servants, employees, agents and visitors in common
with the Lessor and those authorized by it and all others having the same right.

 

		(a)	To
                                         pass on foot only over the passageways shown colored yellow on the plan for the purpose
                                         of access to and egress from the Premises.

 

		(b)	To
                                         place and retain in such position in the exterior of the Lessor’s adjoining property
                                         as the Lessor shall from time to time specify a sign stating the Lessee’s name and
                                         business; such sign to be of a design and lettering previously approved in writing by
                                         the Lessor.

 

		(c)	Of
                                         free and uninterrupted passage of water and soil through the pipes, drains and watercourses
                                         and of electricity and gas through the cables, wired and pipes now serving the Premises
                                         and passing in under or over any adjoining or neighboring land.

 

		(d)	Of
                                         support and protection from the adjoining premises including other parts of the Lessor’s
                                         adjoining property as are now enjoyed by the Premises.

 

    13

     

    

 

THE
THIRD SCHEDULE

 

Rights
and Easements Excepted

 

The
following rights and easements are accepted and reserved out of the Premises unto the Lessor and its respective Lessees and the
occupiers of any adjoining or neighboring land and/or premises and all other persons authorized by the Lessor or having the like,
rights and easements:

 

		1.	The
                                         free and uninterrupted passage of water and soil through the pipes, drains and watercourses
                                         and of electricity and gas through the cables, wires and pipes which are now or may at
                                         any time during the term hereby granted be in, on, under or passing through or over the
                                         Premises with the right to construct and maintain new services for the benefit of any
                                         adjacent or nearby premises the right to repair, maintain land renew such existing and
                                         new services and the right at any time, but (except in emergency) after giving reasonable
                                         notice to enter (or in an emergency or after the giving of reasonable notice in the Lessee’s
                                         absence to break and enter) the Premises in the exercise of such rights the person exercising
                                         such right making good any damage caused to the Premises but being under no liability
                                         to pay compensation.

 

		2.	The
                                         right to build, re-build or execute any other works upon any adjacent or nearby premises
                                         in such manner as the Lessor or the person exercising such right may think fit notwithstanding
                                         any interference with or damage caused thereby to the Premises or to the access or enjoyment
                                         of light or air to or in respect of the Premises and without any liability to pay compensation.

 

		3.	The
                                         support and protection from the Premises enjoyed by buildings now or hereafter to be
                                         erected.

 

		4.	The
                                         right to build on or into any party wall of the Premises and after giving reasonable
                                         prior notice to enter the Premises to place and lay in, under or upon the same, such
                                         footings for any intended party wall or party structure with the foundations therefore
                                         as the Lessor shall think proper and for such purpose to excavate the Premises and the
                                         adjoining premises and also to keep and maintain the said footings and foundations and
                                         also the right in connection with the said purpose to erect and use scaffolding upon
                                         the Premises on completion of the work the Lessor or the person exercising this right
                                         making good any damage caused to the Premises but being under no liability to pay compensation.

 

    14

     

    

 

		5.	The
                                         right at any time but (except in an emergency) after giving reasonable prior noticed
                                         to enter (or in an emergency or after the giving of reasonable prior notice during the
                                         Lessee’s absence to break and enter) the Premises in order to:

 

		(a)	Inspect
                                         or view the condition of the Premises.

 

		(b)	Carry
                                         out work upon any adjacent premises, and

 

		(c)	To
                                         carry out any repairs or other works which the Lessor must or may carry out under the
                                         provision of this Lease or to do any other thing which under the said provisions the
                                         Lessor may do.

 

PROVIDED
that the Lessor shall indemnify the Lessee against any loss or damage caused to the Premises or to the Lessee’s
fixtures, fittings in so far only as such loss or damage results from the Lessor’s action.

 

    15

     

    

 

THE
FOURTH SCHEDULE

 

FOR
AREAS SHADED RED IN THE FIRST SCHEDULE:

 

For
each month of the period 18TH May, 2017 to 30TH April 2020, EC$5.25 per square foot.

 

Index

 

Based
on cost of living index of Antigua, The Lessor has the right to index the base rent. The base rent can never decrease.

 

 

 16

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