Document:

Exhibit
10.1

 

AGREEMENT
FOR SHAREHOLDER LOCK-UP AND ACQUISITION OF WARRANTS

 

THIS
AGREEMENT FOR SHAREHOLDER LOCK-UP AND ACQUISITION OF WARRANTS (the “Agreement”) is dated as of February 4, 2019 between
Sean Folkson (“Shareholder”) and Nightfood Holdings Inc., a Nevada corporation (“Company”).

 

WHEREAS,
the Shareholder desires the opportunity to establish a larger equity position in the Company;

 

WHEREAS,
the Company believes there is benefit to the Shareholder agreeing to lock up 100% of the shares of NGTF common stock (the “Shares”)
held by the Shareholder for a period of twelve (12) months from the date of this agreement;

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration
the receipt and adequacy of which are hereby acknowledged, Company and the Lender agree as follows:

 

1.       Lock
Up. The Shareholder and the Company have agreed that the Shareholder will not transfer, sell, or otherwise dispose of any
shares of their NGTF stock for at least twelve (12) months from the date of this agreement. As of the date of this agreement,
the Shareholder owns 16,753,568 shares of NGTF stock. The Shareholder has not disposed of any shares in any way since November
of 2015.

2.       Issuance
of Warrants. In exchange for the agreement to lock up their Shares, Shareholder will receive warrants to acquire 400,000 shares
of NGTF stock at a strike price of $.30, and with a term of twelve (12) months from the date of this agreement. The Warrants include
a provision for cashless exercise, and will expire if not exercised within the twelve month term. Should the Company achieve

 

3.       Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles
of conflicts of law thereof. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts
sitting in New York County, New York, for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper.
Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party
irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby. If any party shall commence an action or
proceeding to enforce any provisions of the documents contemplated herein, then the prevailing party in such action or proceeding
shall be reimbursed by the party determined not to have prevailed for his or its attorney’s fees and other costs and expenses
incurred with the investigation, preparation and prosecution of such action or proceeding.

 

     

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Forbearance Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

 

COMPANY

 

	Nightfood
    Holdings Inc.	 
	 	 
	/s/
    Sean Folkson	 
	By:
    Sean Folkson	 
	Its:
    CEO	 

 

SHAREHOLDER

 

	Sean
    Folkson:	 
	 	 
	/s/
    Sean FolksonExhibit
10.2

 

resale
restriction AGREEMENT

 

THIS
LOCK-UP AGREEMENT is made and entered into the 6th day of February, 2019, by and between NightFood Holdings, Inc.,
a Delaware corporation (the “Company”) and Peter Leighton (“Holder”).

 

RECITALS

 

WHEREAS,
the Holder was previously an affiliate of and is the owner of a total of 4,000,000 shares (the “Shares”) of common
stock of the Company and is willing to limit his resale thereof.

 

NOW
THEREFORE, for consideration received and acknowledged, the Holder agrees that as of the date hereof and during the pendency
of this agreement, the Holder will not transfer, sell, contract to sell, devise, gift, assign, pledge, hypothecate, distribute
or grant any option to purchase or otherwise dispose of, directly or indirectly the Shares subject to a “trickle”
into the market at a rate not to exceed $150,000 of gross proceeds per month such limitation to continue for a period of six months
after which time this Agreement shall become null and void.

 

Any
attempted sale, transfer or other disposition in violation of this agreement shall be null and void.

 

The
Holder further agrees that if the Holder attempts to sell, transfer, or otherwise dispose of its shares in violation of this Agreement,
the Company may instruct its transfer agent not to transfer such securities. Holder advises that he has deposited the Shares with
a broker and will inform the broker of the restrictions set forth in this agreement and Holder will not permit the broker to cause
sales of the Shares in excess of the limitation herein. Holder will cause the broker to send the Company copies of all confirmations
or if the broker is unable to do so will send monthly sales reports to the Company within five days of the completion of each
calendar month. Holder shall only affect sales through one broker at a time.

 

This
agreement shall be binding upon the Company, Holder, and their respective agents, heirs, successors, assigns and beneficiaries.

 

Any
waiver by the Company or Holder of any of the terms and conditions of this agreement in any instance must be in writing and must
be duly executed by the Company and the Holder and shall not be deemed or construed to be a waiver of such term or condition for
the future, or of any subsequent breach thereof.

 

The
Holder agrees that any breach of this agreement will cause the Company irreparable damage for which there is no adequate remedy
at law. If there is a breach or threatened breach of this agreement by the Holder, the Company hereby agrees that its sole remedy
shall be the issuance of an immediate injunction without notice to restrain the breach or threatened breach.

 

     

     

    

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Agreement as of the day and year first above written.

 

	NightFood
    Holdings, Inc.	 
	 	 
	By:	/s/
    Sean Folkson	 
	 	Name: Sean Folkson	 
	 	Title: Chief Executive
    Officer	 

 

	 	/s/ Peter
    Leighton	 
	 	Peter Leighton	 
	 	HolderExhibit

Exhibit 10.1
2019 Cash Incentive Compensation Plan

Eligible Employees:  All non-Section 16 officers (“Vice Presidents”) and senior executives (Section 16) officers (“Executive Officers”) of the Company are eligible for participation in the Company’s 2019 Cash Incentive Compensation Plan.  

Applicable Period:  The 2019 Cash Incentive Plan applies to performance during the Company’s fiscal year ending December 31, 2019.  

Components of the Plan and Criteria to Fund:  The 2019 Cash Incentive Compensation Plan consists of the following three components: (i) revenue targets; (ii) EBITDA targets, and (iii) integration synergy targets. Each component of the 2019 Cash Incentive Compensation Plan includes targets at minimum, plan, and maximum payout. The minimum targets serve as the threshold upon which the incentive pool will begin to fund for that component. Achievement of the components at plan/target will earn the target cash incentive opportunity. Payout will be calculated along a linear continuum from minimum to plan/target and from plan/target to maximum with the maximum target serving as the point at which the management team will earn the highest possible cash incentive opportunity.

The minimum performance target must be met in order for a portion of the bonus to be paid relative to any one of the three components. Each component will be measured separately. Bonus payouts will be based 45% on achievement of revenue targets, 40% on achievement of EBITDA targets; and 15% on achievement of integration cost synergy targets.

The following table below represents the target bonus and maximum bonus for each of the Company’s Vice Presidents and above and as a percent of such employee’s annual base salary.  

	
				
	Executive Officer

	Target
	Maximum

	President and CEO
	115%
	175%

	Executive Officers (other than President and CEO)
	75%
	100%

	Vice Presidents
	50%
	70%Exhibit

Exhibit 10.2
2019 Annual Equity Incentive Plan

The 2019 Annual Equity Incentive Plan provides for the issuance of equity incentive awards in the form of (i) non-qualified stock options; (ii) time-based restricted stock units; and (iii) performance-based restricted stock units.

	
				
	Executive Officer
	Time-Based Restricted Stock Units 
(# shares)
	Performance-Based Restricted Stock Units 
(# shares)
	Non-Qualified Stock Options (# shares)

	Douglas C. Bryant
President and Chief Executive Officer
	18,720
	18,720
	37,440

	Randall J. Steward
Chief Financial Officer
	4,831
	4,831
	9,662

	Michael D. Abney, Jr.
Senior Vice President, Distribution
	3,623
	3,623
	7,246

	Ratan S. Borkar
Senior Vice President, International Commercial Operations
	3,623
	3,623
	7,246

	Robert J. Bujarski
Senior Vice President, Business Development and General Counsel
	3,623
	3,623
	7,246

	Werner Kroll
Senior Vice President, Research and Development
	3,925
	3,925
	7,850

	Edward K. Russell
Senior Vice President, Global Commercial Operations
	3,623
	3,623
	7,246

The vesting period for the non-qualified stock is over four years with the first 50% of such option awards vesting at the end of the second-year anniversary of the grant date and the remainder vesting 25% annually on each of the following two anniversaries thereafter.    

The vesting period for the time-based restricted stock units is 100% of such equity awards vesting at the end of the four-year anniversary of the grant date.    

The vesting for the performance based restricted stock units (PSUs) is over a three-year time period and is tied to the achievement of net revenue growth and EBITDA targets. Each measure will be worth 50% of the PSUs. If both the net revenue and EBITDA targets are achieved, then the PSUs will vest 100% on the date that such target revenues and EBITDA are reported (i.e., the shares would vest and release on the date that 2021 GAAP revenues are reported in 2022). If the Company achieves one of the two targets, then 50% of the PSUs will vest and release on the date that such target revenues and EBITDA are reported. If the Company has not achieved the annual net revenue growth or the EBITDA targets at the end of the three-year period, the PSUs will be canceled. The PSUs may vest early at 50% upon early achievement of either the three-year net revenue growth or EBITDA targets or at 100% upon early achievement of both the targets. The net revenue and EBITDA calculations may be adjusted for the financial impact of merger, acquisition, and divestiture activities and based on the timing of new product launches.

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