Document:

Exhibit
10.49

 

SEPARATION
AND SETTLEMENT AGREEMENT AND RELEASE

 

This
Separation and Settlement Agreement and Release (“Agreement”) is made as of August 1, 2020 by and between Alexander
Bafer (“Chairman”) and FaceBank Group, Inc. (the “Company”) (jointly referred to as the “Parties”
or individually referred to as a “Party”).

 

RECITALS

 

WHEREAS,
Chairman was employed as the Chief Executive Officer of Recall Studios, Inc. (“Recall”), a predecessor corporation
of the Company;

 

WHEREAS,
Chairman served as Chairman of the Board of Directors of the Company (the “Board”) until April 29, 2020;

 

WHEREAS,
the Company’s predecessor corporations issued certain convertible promissory notes to Chairman in or about July 2015, which
were replaced with a non-convertible promissory note in or about May 2019 (all promissory notes issued to Chairman by, and all
loans made by Chairman to, Recall, the Company, or any predecessors, successors or affiliated entities, referenced collectively
as the “Notes”);

 

WHEREAS,
Chairman and Recall entered into an Agreement for Chairman of Board of Directors effective as of February 1, 2018 (the “Chairman
Agreement”);

 

WHEREAS,
Chairman resigned from his position as Chief Executive Officer of Recall effective as of August 8, 2018 and, in connection therewith,
Chairman signed a Termination and Release Agreement with Recall effective as of the same date (the “Termination Agreement”);

 

WHEREAS,
Chairman resigned from his position as a director of the Company effective as of July 31, 2020 (the “Termination Date”);
and

 

WHEREAS,
the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that
the Chairman may have against the Company and any of the Releasees as defined below, including, but not limited to, any and all
claims arising out of or in any way related to Chairman’s employment with Recall, relationship with the Company, service
as a director of the Company, and any other matters and actions arising prior to the Effective Date of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual promises made herein, the Company and Chairman hereby agree as follows:

 

COVENANTS

 

1.
Consideration. In consideration of Chairman’s execution of this Agreement and Chairman’s fulfillment of all
of its terms and conditions, and provided that Chairman does not revoke the Agreement under Section 6 below, the Company agrees
as follows:

 

a.
Payment. The Company shall pay Chairman a total of Five Hundred Thousand Dollars ($500,000) payable in equal monthly installments
of Twenty Thousand, Eight Hundred and Thirty-Three Dollars and Thirty-Three Cents ($20,833.33) over the first 24 months following
the Effective Date. Chairman will be issued an IRS Form 1099 for the payments set forth in this Section 1.a.

 

b.
Acknowledgments. Chairman specifically acknowledges and agrees that the consideration provided to Chairman hereunder fully
satisfies any outstanding obligation that the Company or any other Releasee (as defined herein) has to repay the Notes, or pay
Chairman outstanding wages or other outstanding compensation for any of the services that Chairman rendered to the Company or
any other Releasee, that the payments satisfy in full any outstanding obligations of the Company or any other Releasee under the
Notes, that the consideration paid shall be deemed to be paid first in satisfaction of any disputed wage claim with the remainder
sufficient to act as consideration for the release of outstanding remuneration and / or other claims set forth herein, and that
Chairman is not entitled to receive any additional wages or other form of compensation from the Company other than as described
in this Agreement.

 

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2.
Resignation. Effective as of the Termination Date, Chairman agrees to resign from any positions he holds as a director
or employee of, or other affiliation with, the Company or any of its affiliates or subsidiaries or the respective boards of directors
thereof. Thereafter, Chairman shall no longer hold himself out or act as a representative of the Company, and he shall promptly
direct and forward any inquiries and other communications he receives that pertain to the Company to the Company’s General
Counsel.

 

3.
Benefits. Chairman acknowledges that to the extent he was entitled to participate in any benefits and incidents of his
position with the Company, including, but not limited to, vesting in stock options, health insurance, and the accrual of bonuses,
vacation, and paid time off, such benefits ceased as of the Termination Date.

 

4.
Payments. Chairman acknowledges and represents that, together with the consideration set forth in this Agreement, the Company
and the Releasees have paid or provided any and all monies due Chairman by Company and any Releasee, including without limitation,
all salary, wages, bonuses, accrued vacation/paid time off, notice periods, premiums, leaves, housing allowances, relocation costs,
interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, loan or note
repayments, and any and all other benefits and monies due to Chairman.

 

5.
Release of Claims. Chairman agrees that the foregoing consideration represents settlement in full of all outstanding obligations
owed to Chairman by the Company and its current and former: officers, directors, employees, agents, investors, attorneys, shareholders,
administrators, affiliates, benefit plans, plan administrators, professional employer organization or co-employer, insurers, trustees,
divisions, and subsidiaries and affiliates, and predecessor and successor corporations and assigns (collectively, the “Releasees”).
Chairman, on Chairman’s own behalf and on behalf of Chairman’s respective heirs, family members, executors, agents,
and assigns, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute,
prosecute, or pursue, any claim, complaint, charge, duty, obligation, demand, or cause of action relating to any matters of any
kind, whether presently known or unknown, suspected or unsuspected, that Chairman may possess against any of the Releasees arising
from any omissions, acts, facts, or damages that have occurred up until and including the Effective Date of this Agreement, including,
without limitation:

 

a.
any and all claims relating to or arising from Chairman’s relationship with the Company, Recall, or any other affiliate,
subsidiary, or predecessor or successor corporation of the Company, and the termination of those relationships;

 

b.
any and all claims relating to or arising from the Notes;

 

c.
any and all claims relating to, or arising from, Chairman’s right to purchase, actual purchase, or ownership of shares of
stock of the Company or any Releasee, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary
duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;

 

d.
discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair
dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent
or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair
business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment;
conversion; and any other tort or contract claims;

 

e.
any and all claims for violation of any federal, state, or municipal statute;

 

f.
any and all claims for violation of the federal or any state constitution;

 

g.
any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of
any of the proceeds received by Chairman as a result of this Agreement; and

 

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h.
any and all claims for attorneys’ fees and costs.

 

Chairman
agrees that the release set forth in this Section shall be and remain in effect in all respects as a complete general release
as to the matters released. This release does not extend to any obligations incurred under this Agreement or to Chairman’s
right to indemnification, if any, under applicable law or the Company’s bylaws or articles of incorporation. This release
does not release claims that cannot be released as a matter of law, including any Protected Activity (as defined below). Chairman
represents that Chairman has made no assignment or transfer of any right, claim, complaint, charge, duty, obligation, demand,
cause of action, or other matter waived or released by this Section.

 

6.
Acknowledgment of Waiver of Claims under ADEA. Chairman acknowledges that Chairman is waiving and releasing any rights
Chairman may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release
is knowing and voluntary. Chairman agrees that this waiver and release does not apply to any rights or claims that may arise under
the ADEA after the Effective Date of this Agreement. Chairman acknowledges that the consideration given for this waiver and release
is in addition to anything of value to which Chairman was already entitled. Chairman further acknowledges that Chairman has been
advised by this writing that: (a) Chairman should consult with an attorney prior to executing this Agreement; (b) Chairman
has twenty-one (21) days within which to consider this Agreement; (c) Chairman has seven (7) days following Chairman’s execution
of this Agreement to revoke this Agreement; (d) this Agreement shall not be effective until after the revocation period has expired;
and (e) nothing in this Agreement prevents or precludes Chairman from challenging or seeking a determination in good faith of
the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless
specifically authorized by federal law. In the event Chairman signs this Agreement and returns it to the Company in less than
the 21-day period identified above, Chairman hereby acknowledges that Chairman has freely and voluntarily chosen to waive the
time period allotted for considering this Agreement. Chairman acknowledges and understands that revocation must be accomplished
by a written notification to the undersigned Company representative that is received prior to the Effective Date. The Parties
agree that changes, whether material or immaterial, do not restart the running of the 21-day period.

 

7.
No Pending or Future Lawsuits. Chairman represents that Chairman has no lawsuits, claims, or actions pending in Chairman’s
name, or on behalf of any other person or entity, against the Company or any of the other Releasees. Chairman also represents
that Chairman does not intend to bring any claims on Chairman’s own behalf or on behalf of any other person or entity against
the Company or any of the other Releasees.

 

8.
Confidentiality. Chairman agrees to maintain in complete confidence the existence of this Agreement, the contents and terms
of this Agreement, and the consideration for this Agreement (hereinafter collectively referred to as “Separation Information”).
Except as required by law, Chairman may disclose Separation Information only to Chairman’s immediate family members, the
Court in any proceedings to enforce the terms of this Agreement, Chairman’s counsel, and Chairman’s accountant and
any professional tax advisor to the extent that they need to know the Separation Information in order to provide advice on tax
treatment or to prepare tax returns, and must prevent disclosure of any Separation Information to all other third parties. Chairman
agrees that Chairman will not publicize, directly or indirectly, any Separation Information.

 

9.
Trade Secrets and Confidential Information/Company Property. Chairman agrees at all times hereafter to hold in the strictest
confidence, and not to use or disclose to any person or entity, any Confidential Information of the Company, Recall, or any of
the Company’s subsidiaries, affiliates, or predecessor corporations. Chairman understands that “Confidential Information”
means any proprietary information, technical data, trade secrets or know-how, including, but not limited to, research, product
plans, products, services, customer lists and customers (including, but not limited to, customers of the Company on whom Chairman
has called or with whom Chairman became acquainted during the term of Chairman’s relationship with the Company), markets,
software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information,
marketing, finances, or other business information disclosed to Chairman by the Company, Recall, or any affiliate, subsidiary,
or predecessor corporation of the Company either directly or indirectly, in writing, orally, or by drawings or observation of
parts or equipment. Chairman further understands that Confidential Information does not include any of the foregoing items that
have become publicly known and made generally available through no wrongful act of Chairman’s or of others who were under
confidentiality obligations as to the item or items involved or improvements or new versions thereof. Chairman hereby grants consent
to notification by the Company to any new employer about Chairman’s obligations under this paragraph. Chairman represents
that Chairman has not to date misused or disclosed Confidential Information to any unauthorized party. Chairman’s signature
below constitutes Chairman’s certification under penalty of perjury that Chairman has returned all documents and other items
provided to Chairman by the Company, Recall, or any affiliate, subsidiary, or predecessor corporation of the Company, developed
or obtained by Chairman in connection with Chairman’s relationship with the Company, Recall, or any subsidiary, affiliate,
or predecessor corporation of the Company, or otherwise belonging to the Company, Recall, or any affiliate, subsidiary, or predecessor
corporation of the Company.

 

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10.
Assignment of Intellectual Property. To the fullest extent permitted by the laws of the State of Florida, and the Copyright
Act, Chairman agrees that all right, title, and interest in and to any and all inventions, original works of authorship, developments,
concepts, improvements, designs, discoveries, ideas, know-how, trademarks, and trade secrets, whether or not patentable or registrable
under copyright or similar laws, that Chairman may have solely or jointly authored, conceived, developed, or reduced to practice
during the period of time he provided services to the Company, Recall, or any affiliate, subsidiary, or predecessor corporation
of the Company (including during his off-duty hours), or with the use of the Company’s, Recall’s, or any affiliate’s,
subsidiary’s, or predecessor corporation’s equipment, supplies, facilities, or Confidential Information (collectively,
“Inventions”), are the sole property of the Company. Chairman also agrees to assign, and hereby irrevocably assigns
fully to the Company, all of Chairman’s right, title and interest in and to Inventions. Chairman further acknowledges that
all original works of authorship that are made by Chairman (solely or jointly with others) within the scope of and during the
period of his relationship with the Company, Recall, or any affiliate, subsidiary, or predecessor corporation of the Company and
that are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright
Act. Chairman understands and agrees that the decision whether or not to commercialize or market any Inventions is within the
Company’s sole discretion and for the Company’s sole benefit, and that no royalty, other consideration, or attribution
will be due to Chairman as a result of the Company’s efforts to commercialize or market any such Inventions. Chairman further
agrees to assist the Company, or its designee, at the Company’s expense, in every proper way to secure the Company’s
rights in the Inventions in any and all countries, including the disclosure to the Company of all pertinent information and data
with respect thereto, the execution of all applications, specifications, oaths, assignments, and all other instruments that the
Company shall deem proper or necessary in order to apply for, register, obtain, maintain, defend, and enforce such rights, and
in order to deliver, assign and convey to the Company, its successors, assigns, and nominees the sole and exclusive rights, title,
and interest in and to all Inventions, and testifying in a suit or other proceeding relating to such Inventions.

 

11.
No Cooperation. Chairman agrees that Chairman will not knowingly encourage, counsel, or assist any attorneys or their clients
in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party
against any of the Releasees, unless under a subpoena or other court order to do so or as related directly to the ADEA waiver
in this Agreement. To the extent permissible by law, Chairman agrees both to immediately notify the Company upon receipt of any
such subpoena or court order, and to furnish, within three (3) business days of its receipt, a copy of such subpoena or other
court order. If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes, differences,
grievances, claims, charges, or complaints against any of the Releasees, Chairman shall state no more than that Chairman cannot
provide counsel or assistance.

 

12.
Transition Cooperation. Chairman agrees to cooperate with the Company and the Board and to make himself available to the
Company and the Board on a de minimis basis for purposes of providing transition assistance, responding to inquiries, and providing
information and other assistance as may reasonably be requested, provided, however, that no additional material, non-public information
will be provided to Chairman subsequent to the date Chairman executes this Agreement.

 

13.
Non-disparagement. Chairman agrees to refrain from any disparagement, defamation, libel, or slander of any of the Releasees,
and agrees to refrain from any tortious interference with the contracts and relationships of any of the Releasees.

 

14.
No Admission of Liability. Chairman understands and acknowledges that this Agreement constitutes a compromise and settlement
of any and all actual or potential disputed claims by Chairman. No action taken by the Company hereto, either previously or in
connection with this Agreement, shall be deemed or construed to be (a) an admission of the truth

 

or
falsity of any actual or potential claims or (b) an acknowledgment or admission by the Company of any fault or liability whatsoever
to Chairman or to any third party.

 

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15.
Costs. The Parties shall each bear their own costs, attorneys’ fees, and other fees incurred in connection with the
preparation of this Agreement.

 

16.
ARBITRATION. THE PARTIES AGREE THAT ANY AND ALL DISPUTES ARISING OUT OF THE TERMS OF THIS AGREEMENT, THEIR INTERPRETATION,
AND ANY OF THE MATTERS HEREIN RELEASED, SHALL BE SUBJECT TO ARBITRATION IN PALM BEACH COUNTY, FLORIDA BEFORE THE JUDICIAL ARBITRATION
AND MEDIATION SERVICE (“JAMS”) UNDER ITS COMPREHENSIVE ARBITRATION RULES (“JAMS RULES”) AND FLORIDA LAW.
THE ARBITRATOR MAY GRANT INJUNCTIONS AND OTHER RELIEF IN SUCH DISPUTES. THE ARBITRATOR SHALL ADMINISTER AND CONDUCT ANY ARBITRATION
IN ACCORDANCE WITH FLORIDA LAW, AND THE ARBITRATOR SHALL APPLY SUBSTANTIVE AND PROCEDURAL FLORIDA LAW TO ANY DISPUTE OR CLAIM,
WITHOUT REFERENCE TO ANY CONFLICT-OF-LAW PROVISIONS OF ANY JURISDICTION. TO THE EXTENT THAT THE JAMS RULES CONFLICT WITH FLORIDA
LAW, FLORIDA LAW SHALL TAKE PRECEDENCE. THE DECISION OF THE ARBITRATOR SHALL BE FINAL, CONCLUSIVE, AND BINDING ON THE PARTIES
TO THE ARBITRATION. THE PARTIES AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION SHALL BE ENTITLED TO INJUNCTIVE RELIEF IN ANY
COURT OF COMPETENT JURISDICTION TO ENFORCE THE ARBITRATION AWARD. THE PARTIES TO THE ARBITRATION SHALL EACH PAY HALF THE COSTS
AND EXPENSES OF SUCH ARBITRATION, AND EACH PARTY SHALL SEPARATELY PAY FOR ITS RESPECTIVE COUNSEL FEES AND EXPENSES; PROVIDED,
HOWEVER, THAT THE ARBITRATOR SHALL AWARD ATTORNEYS’ FEES AND COSTS TO THE PREVAILING PARTY, EXCEPT AS PROHIBITED BY LAW.
THE PARTIES AGREE THAT PUNITIVE DAMAGES SHALL BE UNAVAILABLE IN ARBITRATION. THE PARTIES HEREBY AGREE TO WAIVE THEIR RIGHT TO
HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW BY A JUDGE OR JURY. NOTWITHSTANDING THE FOREGOING, THIS SECTION WILL
NOT PREVENT EITHER PARTY FROM SEEKING INJUNCTIVE RELIEF (OR ANY OTHER PROVISIONAL REMEDY) FROM ANY COURT HAVING JURISDICTION OVER
THE PARTIES AND THE SUBJECT MATTER OF THEIR DISPUTE RELATING TO THIS AGREEMENT AND THE AGREEMENTS INCORPORATED HEREIN BY REFERENCE.
SHOULD ANY PART OF THE ARBITRATION AGREEMENT CONTAINED IN THIS PARAGRAPH CONFLICT WITH ANY OTHER ARBITRATION AGREEMENT BETWEEN
THE PARTIES, THE PARTIES AGREE THAT THIS ARBITRATION AGREEMENT SHALL GOVERN.

 

17.
Tax Consequences. The Company makes no representations or warranties with respect to the tax consequences of the payments
and any other consideration provided to Chairman or made on Chairman’s behalf under the terms of this Agreement. Chairman
agrees and understands that Chairman is responsible for payment, if any, of local, state, and/or federal taxes on the payments
and any other consideration provided hereunder by the Company and any penalties or assessments thereon. Chairman further agrees
to indemnify and hold the Company harmless from any claims, demands, deficiencies, penalties, interest, assessments, executions,
judgments, or recoveries by any government agency against the Company for any amounts claimed due on account of (a) Chairman’s
failure to pay, or Chairman’s delayed payment of, federal or state taxes, or (b) damages sustained by the Company by reason
of any such claims, including attorneys’ fees and costs.

 

18.
Authority. The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and
to bind the Company and all who may claim through it to the terms and conditions of this Agreement. Chairman represents and warrants
that Chairman has the capacity to act on Chairman’s own behalf and on behalf of all who might claim through Chairman to
bind them to the terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims
of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein.

 

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19.
Protected Activity. Chairman understands that nothing in this Agreement shall in any way limit or prohibit Chairman from
engaging for a lawful purpose in any Protected Activity. For purposes of this Agreement, “Protected Activity” shall
mean filing a charge, complaint, or report with, or otherwise communicating with, cooperating with or participating in any investigation
or proceeding that may be conducted by, any federal, state or local government agency or commission, including the Securities
and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the
National Labor Relations Board (“Government Agencies”). Chairman understands that in connection with such Protected
Activity, Chairman is permitted to disclose documents or other information as permitted by law, and without giving notice to,
or receiving authorization from, the Company. Notwithstanding the foregoing, Chairman agrees to take all reasonable precautions
to prevent any unauthorized use or disclosure of any information that may constitute Company confidential information to any parties
other than the relevant Government Agencies or as otherwise permitted herein. Chairman further understands that “Protected
Activity” does not include the disclosure of any Company attorney-client privileged communications, and that any such disclosure
without the Company’s written consent shall constitute a material breach of this Agreement. In addition, pursuant to the
Defend Trade Secrets Act of 2016, Chairman is notified that an individual will not be held criminally or civilly liable under
any federal or state trade secret law for the disclosure of a trade secret that (i) is made in confidence to a federal, state,
or local government official (directly or indirectly) or to an attorney solely for the purpose of reporting or investigating
a suspected violation of law, or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if (and
only if) such filing is made under seal. In addition, an individual who files a lawsuit for retaliation by an employer for reporting
a suspected violation of law may disclose the trade secret to the individual’s attorney and use the trade secret information
in the court proceeding, if the individual files any document containing the trade secret under seal and does not disclose the
trade secret, except pursuant to court order.

 

20.
No Representations. Chairman represents that Chairman has had an opportunity to consult with an attorney, and has carefully
read and understands the scope and effect of the provisions of this Agreement. Chairman has not relied upon any representations
or statements made by the Company that are not specifically set forth in this Agreement.

 

21.
Severability. In the event that any provision or any portion of any provision hereof or any surviving agreement made a
part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this
Agreement shall continue in full force and effect without said provision or portion of provision.

 

22.
Attorneys’ Fees. Except with regard to a legal action challenging or seeking a determination in good faith of the
validity of the waiver herein under the ADEA, in the event that either Party brings an action to enforce or effect its rights
under this Agreement, the prevailing Party shall be entitled to recover its costs and expenses, including the costs of mediation,
arbitration, litigation, court fees, and reasonable attorneys’ fees incurred in connection with such an action.

 

23.
Entire Agreement. This Agreement represents the entire agreement and understanding between the Company and Chairman concerning
the subject matter of this Agreement, Chairman’s employment with and separation from Recall, the termination of Chairman’s
relationship with the Company, and the events leading thereto and associated therewith, and supersedes and replaces any and all
prior agreements and understandings concerning the subject matter of this Agreement and Chairman’s relationship with the
Company, including the Chairman Agreement and any employment agreements between the Company or Recall and Chairman, with the exception
of the Termination Agreement, except that Sections 9 and 10 of this Agreement shall supersede the surviving provisions of the
Employment Agreement (as defined in the Termination Agreement).

 

24.
No Oral Modification. This Agreement may only be amended in a writing signed by Chairman and the Company’s Chief
Executive Officer.

 

25.
Governing Law. This Agreement shall be governed by the laws of the State of Florida, without regard for choice-of-law provisions.
Chairman consents to personal and exclusive jurisdiction and venue in the State of Florida.

 

26.
Effective Date. Chairman understands that this Agreement shall be null and void if not executed by Chairman, and returned
to the Company, within the twenty-one (21) day period set forth above. Each Party has seven (7) days after that Party signs this
Agreement to revoke it. This Agreement will become effective on the eighth (8th) day after Chairman signed this Agreement, so
long as it has been signed by the Parties and has not been revoked by either Party before that date (the “Effective Date”).

 

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27.
Counterparts. This Agreement may be executed in counterparts and each counterpart shall be deemed an original and all of
which counterparts taken together shall have the same force and effect as an original and shall constitute an effective, binding
agreement on the part of each of the undersigned. The counterparts of this Agreement may be executed and delivered by facsimile,
photo, email PDF, Docusign/Echosign or a similarly accredited secure signature service, or other electronic transmission or signature.
This Agreement may be executed in one or more counterparts, and counterparts may be exchanged by electronic transmission (including
by email), each of which will be deemed an original, but all of which together constitute one and the same instrument.

 

28.
Voluntary Execution of Agreement. Chairman understands and agrees that Chairman executed this Agreement voluntarily, without
any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of
Chairman’s claims against the Company and any of the other Releasees. Chairman acknowledges that:

 

(a)
Chairman has read this Agreement;

 

(b)
Chairman has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of Chairman’s
own choice or has elected not to retain legal counsel;

 

(c)
Chairman understands the terms and consequences of this Agreement and of the releases it contains; and

 

(d)
Chairman is fully aware of the legal and binding effect of this Agreement.

 

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IN
WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

 

	 	ALEXANDER
    BAFER, an individual
	 	 	 
	Dated:
    8/17/20	 	/s/
    Alexander Bafer
	 	 	Alexander
    Bafer
	 	 	 
	 	fuboTV
    Inc.
	 	 	 
	Dated:
    8/17/2020	By	/s/
    David Gandler
	 	 	David
    Gandler
	 	 	CEO

 

    	8 of 8Exhibit
10.50

 

WAIVER
AND FIFTH AMENDMENT TO NOTE PURCHASE AGREEMENT AND FIRST AMENDMENT TO WARRANT

 

This
WAIVER AND FIFTH AMENDMENT TO NOTE PURCHASE AGREEMENT AND FIRST AMENDMENT TO WARRANT (this “Amendment”), dated
as of September 30, 2020, is entered into by and among FUBOTV INC., a Florida corporation (formerly known as FaceBank Group,
Inc.) (“FaceBank”), Evolution AI Corporation, a Florida
corporation (“Evolution”), Pulse Evolution Corporation,
a Nevada corporation (“Pulse”), FUBOTV MEDIA INC., a Delaware corporation (“FuboTV”)
(formerly known as fuboTV Inc.) and SPORTS RIGHTS MANAGEMENT, LLC, a Delaware limited liability company (“SRM”
and together with FaceBank, Evolution, Pulse and FuboTV, collectively, the “Borrower”) and FB LOAN SERIES
I, LLC, a Delaware limited liability company (the “Purchaser”).

 

WHEREAS,
the Borrower and the Purchaser are parties to that certain Note Purchase Agreement, dated as of March 19, 2020 (as supplemented
by that certain Joinder Agreement, effective as of April 2, 2020, as amended by that certain Amendment to Note Purchase Agreement,
dated April 21, 2020, as amended by that certain Consent and Second Amendment to Note Purchase Agreement, dated May 28, 2020,
that certain Third Amendment to Note Purchase Agreement, dated July 1, 2020, that certain Fourth Amendment to the Note Purchase
Agreement dated August 3, 2020, and as further amended, restated, supplemented or otherwise modified from time to time, the “Purchase
Agreement”), pursuant to which the Purchaser purchased a certain promissory note issued by the Borrower, which promissory
note (the “Note”) was secured by security interests upon the Collateral and was repaid in full by the Borrower
as of July 3, 2020; and

 

WHEREAS,
the Loan Parties have requested and Purchaser desires (i) to waive any and all Events of Default that have occurred pursuant to
Section 8.17 of the Purchase Agreement on or prior to the date of this Amendment and (ii) agree to a revised Exercise Price for
the Warrant, and the parties desire to amend the Purchase Agreement and the Warrant, in each case subject to the terms and conditions
as hereinafter set forth.

 

NOW
THEREFORE, in consideration of the mutual conditions and agreements set forth in the Purchase Agreement and this Amendment, and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby
agree as follows:

 

Section
1. Definitions. Capitalized terms used in this Amendment, unless otherwise defined herein, shall have the meaning
ascribed to such term in the Purchase Agreement.

 

Section
2. Waiver.

 

(a)
Pursuant to Section 13.4 of the Purchase Agreement, and subject to and in accordance with the terms and conditions set forth
herein, including without limitation the conditions precedent set forth in Section 5 hereof, the Purchaser hereby waives upon
the effectiveness of this Amendment any Events of Default (including any and all rights and remedies that result therefrom)
that have occurred or may have occurred pursuant to Section 8.17 of the Purchase Agreement on or prior to the effective date
of this Amendment.

 

(b)
From and after the effectiveness of this Amendment and subject to and in reliance upon the terms hereof, the Purchaser hereby
waives the benefit of any further adjustment to the Exercise Price pursuant to (i) Section 2(c) of the Warrant that it may
otherwise have been entitled to as a result of any Dilutive Issuances (as defined in the Warrant) that have occurred or may
have occurred prior to the effective date of this Amendment or (ii) Section 2(d) of the Warrant that it may otherwise have
been entitled to as a result of any Event of Default that have occurred or may have occurred pursuant to Section 8.17 of the
Purchase Agreement prior to the effective date of this Amendment. The parties acknowledge and agree that nothing contained
herein shall in any way limit the Purchaser’s rights with respect to any Dilutive Issuance occurring on or after the
date hereof.

 

    	 

    	 

    

 

Section
3. Amendment to Note Purchase Agreement. Effective as of September 30, 2020, the Purchase Agreement is hereby amended
as follows:

 

(a)
Section 8.17(c) of the Purchase Agreement is hereby amended and restated in its entirety as follows:

 

“(i)
FaceBank shall file a registration statement on Form S-1 or S-3 which includes the remaining amount of the Closing Date Shares
held by Purchaser and its Affiliates and the Warrant Shares on the earlier to occur of (A) the date of filing of the next registration
statement for any Capital Stock of FaceBank or (B) November 15, 2020; and (ii) FaceBank shall have been approved to list FaceBank’s
Capital Stock for trading on a national exchange prior to the effective date of the Initial Registration Statement. FaceBank shall
diligently prosecute and shall timely respond to all requests and mandates from applicable Governmental Authorities in connection
with the registration and listing applications referred to in this Section 8.17(c). The covenants and obligations of FaceBank
and the Loan Parties in respect of this Section 8.17(c) shall survive the redemption, payment and/or prepayment of the Notes.”

 

(b)
Section 8.17 of the Purchase Agreement is hereby amended by the insertion of a new paragraph (i) as follows:

 

“(i) Rule
144 Opinion. FaceBank shall ensure that its general counsel delivers to FaceBank’s transfer agent a legal opinion letter
(the “Opinion Letter”) on or before October 1, 2020, in form and substance acceptable to such transfer agent,
(i) opining that the transfer and sale of the Closing Date Shares by the Purchaser is not required to be registered under the
Securities Act by reason of the exemption provided by Section 4(a)(1) thereof and Rule 144 thereunder, and that the restrictive
legend on FaceBank’s stock records, concerning the transfer of the Closing Date Shares under the Securities Act, may be
removed in connection with such transfer and sale; and (ii) stating that the transfer agent may rely on such Opinion Letter until
such time as FaceBank notifies the transfer agent in writing that it can no longer so rely. In the event that such Opinion Letter
is insufficient to permit the Purchaser to sell the Closing Date Shares (whether as a result of the transfer agent’s or
any broker’s determination that the Opinion Letter is deficient or otherwise), FaceBank agrees to take all steps required
to permit the sale by Purchaser of any Closing Date Shares in accordance with applicable law. On the first anniversary of the
Closing Date, FaceBank shall take all steps necessary to remove the legend on any Closing Date Shares then held by the Purchaser
or its Affiliates so as to permit the free trade of all such Closing Date Shares.

 

In
the event FaceBank reasonably determines, based on the opinion of its outside counsel, that further reliance on the Legal Opinion
would result in the violation of applicable securities laws, FaceBank shall immediately (and in any event prior to so notifying
its transfer agent) provide written notice to the Purchaser that it is terminating such reliance (the “Non-Reliance Notice”).
Purchaser shall refrain from selling any of the Closing Date Shares for four (4) Business Days after the date of delivery of any
Non-Reliance Notice. Prior to the expiration of such four (4) Business Day period, FaceBank shall either (a) file a Current Report
on Form 8-K with the Commission disclosing any material, non-public information which caused the issuances of such Non-Reliance
Notice; or (b) certify in writing to Purchaser that no material, non-public information was disclosed to Purchaser, and in either
case of (a) or (b), issue a new Opinion Letter to the transfer agent to allow Purchaser to resume sales of the Closing Date Shares
under Rule 144. Any failure to file or deliver the items required in (a) or (b) shall be deemed to be a certification that no
material, non-public information was disclosed to Purchaser.

 

    	 

    	 

    

 

Except
as set forth in the immediately preceding paragraph, until such time as Purchaser no longer owns any Closing Date Shares, or all
of the Closing Date Shares have been registered on an effective Form S-1 or Form S-3 registration statement, FaceBank shall ensure
that all times its transfer agent is able to rely on an Opinion Letter for any sales of the Closing Date Shares by Purchaser in
accordance with Rule 144.”

 

Section
4. Amendment to Warrant. Effective as of September 30, 2020, Section 1(b) the Warrant is hereby amended by deleting
“$5.00” and inserting “$2.75” in lieu thereof.

 

Section
5. Limited Effect. Except as expressly provided herein, the Purchase Agreement, the Warrant and the other Note Documents
shall remain unmodified and in full force and effect. Except as expressly set forth herein, this Agreement shall not be deemed
(a) to be a waiver of, or consent to, a modification or amendment of, any other term or condition of the Purchase Agreement, the
Warrant or any other Note Document, (b) to prejudice any other right or rights which the Purchaser may now have or may have in
the future under or in connection with the Purchase Agreement, the Warrant or any other Note Document or any of the instruments
or agreements referred to therein, as the same may be amended, restated, supplemented or otherwise modified from time to time,
(c) to be a commitment or any other undertaking or expression of any willingness to engage in any further discussion with the
Loan Parties or any other Person with respect to any waiver, amendment, modification or any other change to the Purchase Agreement,
the Warrant or any other Note Document or any rights or remedies arising in favor of the Purchaser under or with respect to any
such documents or (d) to be a waiver of, or consent to or a modification or amendment of, any other term or condition of any other
agreement by and among the Loan Parties, on the one hand, and the Purchaser, on the other hand. References in the Purchase Agreement
to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein”,
and “hereof”) and in any other Note Document to the Purchase Agreement shall be deemed to be references to the Purchase
Agreement as modified hereby. References in the Warrant to “this Warrant” (and indirect references such as “hereunder”,
“hereby”, “herein”, and “hereof”) and in any other Note Document to the Warrant shall be deemed
to be references to the Warrant as modified hereby.

 

Section
6. Representations. To induce the Purchaser to enter into this Amendment, the Loan Parties hereby jointly and severally
represent and warrant to the Purchaser as follows:

 

(a)
Since the date of the Purchase Agreement, no share of FaceBank’s common stock has been sold for cash consideration at a
price per share less than $3.06.

 

(b)
No event has occurred, or is reasonably expected to occur, which would (i) prevent the general counsel of FaceBank from
delivering the Opinion Letter (as defined in Section 7(d) below) or (ii) cause FaceBank’s transfer agent to no longer
be able to rely on the Opinion Letter.

 

    	 

    	 

    

 

Section
7. Conditions to Effectiveness. The effectiveness of this Amendment is subject to the following conditions precedent
(unless specifically waived in writing by the Purchaser):

 

(a)
The Purchaser shall have received an executed counterpart hereto signed by the Borrower;

 

(b)
The Loan Parties shall have reimbursed the Purchaser for all reasonable expenses incurred by Purchaser in connection with the
preparation, negotiation and execution of this Amendment, preparation and issuance of any legal opinion in connection with
the Closing Date Shares, and as otherwise reimbursable pursuant to Section 13.12 of the Purchase Agreement; and

 

(c)
The Loan Parties shall have delivered a fully executed lock-up agreement in the form attached hereto as Exhibit
A.

 

Section
8. Covenants. The Loan Parties shall promptly (and in any event, within one (1) Business Day of request thereof)
execute and deliver such further documents and instruments of conveyance and transfer and take such additional action as Purchaser
may request to effect, consummate, confirm or evidence the transfer by Purchaser of all or any of the Closing Date Shares, including,
without limitation, a reliance letter and instruction to FaceBank’s transfer agent to issue the Closing Date Shares to the
Purchaser without legend, subject to restrictions under applicable law. Promptly following the effectiveness of this Amendment,
but in any even no later than 5:00pm ET on October 1, 2020, (i) the general counsel of FaceBank deliver to FaceBank’s transfer
agent the Opinion Letter (A) opining that the transfer and sale of the Closing Date Shares by the Purchaser is not required
to be registered under the Securities Act by reason of the exemption provided by Section 4(a)(1) thereof and Rule 144 thereunder,
and that the restrictive legend on FaceBank’s stock records, concerning the transfer of the Closing Date Shares under the
Securities Act, may be removed in connection with such transfer and sale, and (B) stating that the transfer agent may rely on
such Opinion Letter until such time as FaceBank notifies the transfer agent in writing that it can no longer so rely, and (ii)
FaceBank shall deliver to the Purchaser written confirmation from FaceBank’s transfer agent that the Opinion Letter is acceptable
to permit sales of the Closing Date Shares under Rule 144.

 

Section
9. Ratification. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent
terms and provisions of the Purchase Agreement and the Warrant, and shall not be deemed to be a consent to the modification or
waiver of any other term or condition of the Purchase Agreement or the Warrant. Except as expressly modified and superseded by
this Amendment, the terms and provisions of the Purchase Agreement and the Warrant are ratified and confirmed and shall continue
in full force and effect. This Amendment constitutes a Note Document, and any breach of any covenant or obligation set forth herein
shall constitute an Event of Default under the Purchase Agreement

 

Section
10. Amended Notes and Warrant. Wherever necessary, all other terms of the Purchase Agreement and the Warrant are
hereby amended to be consistent with the terms of this Amendment.

 

Section
11. Release of Claims. To induce the Purchaser to enter into this Amendment, each Loan Party hereby releases, acquits
and forever discharges the Purchaser, its Affiliates and each of their respective officers, directors, agents, employees, successors
and assigns (the “Released Parties”), from all liabilities, claims, demands, actions or causes of action of
any kind (if any there be), whether absolute or contingent, due or to become due, disputed or undisputed, liquidated or unliquidated,
at law or in equity, or known or unknown, that any one or more of them now have or ever have had against any Released Parties,
whether arising under or in connection with the Purchase Agreement or otherwise through the date of this Amendment.

 

    	 

    	 

    

 

Section
12. Relationship of Parties; No Third Party Beneficiaries. Nothing in this Amendment shall be construed to alter
the existing debtor-creditor relationship between the Borrower and the Purchaser. This Amendment is not intended, nor shall it
be construed, to create a partnership or joint venture relationship between or among any of the parties hereto. No Person other
than a party hereto is intended to be a beneficiary hereof and no Person other than a party hereto shall be authorized to rely
upon or enforce the contents of this Amendment.

 

Section
13. Incorporation by Reference. Each of Sections 13.5 (Signatures; Counterparts), 13.7 (Governing Law)
and 13.8 (Jurisdiction, Jury Trial Waiver, Etc.) of the Purchase Agreement are hereby incorporated herein by reference,
mutatis mutandis.

 

Section
14. Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable
shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held
to be invalid or unenforceable.

 

Section
15. References. Any reference to the Purchase Agreement contained in any document, instrument or agreement executed
in connection with the Purchase Agreement, shall be deemed to be a reference to the Purchase Agreement as modified by this Amendment.

 

Section
16. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and permitted assigns.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed under seal and delivered by their respective
duly authorized officers on the date first written above.

 

	 	Borrower:
	 	 	 
	 	fubotv
    inc.
	 	 	 
	 	By:	/s/
    David Gandler
	 	Name:	David
Gandler
	 	Title:	Chief
Executive Officer

 

	 	fubotv
    MEDIA inc.
	 	 	 
	 	By:	/s/
David Gandler
	 	Name:	David
    Gandler
	 	Title:	Chief
    Executive Officer

 

	 	EVOLUTION
    AI CORPORATION
	 	 	 
	 	By:	/s/
David Gandler
	 	Name:	David
    Gandler
	 	Title:	Chief
    Executive Officer

 

	 	PULSE
    EVOLUTION CORPORATION
	 	 	 
	 	By:	/s/
David Gandler
	 	Name:	David
    Gandler
	 	Title:
    	Chief
    Executive Officer

 

	 	SPORTS
    RIGHTS MANAGEMENT, LLC
	 	 	 
	 	By:	/s/
David Gandler
	 	Name:	David
Gandler
	 	Title:	Chief
Executive Officer

 

[signature pages continue]

 

    	 

    	 

    

 

	 	Purchaser:
	 	 	 
	 	FB LOAN SERIES I, LLC
	 	 	 
	 	By:	/s/
Gregory Preis
	 	Name:	Gregory
    Preis
	 	Title:	Authorized
    Signatory

 

    	 

    	 

    

 

EXHIBIT
A

 

LOCK-UP
AGREEMENT

 

September
30, 2020

 

FuboTV
Inc.

1330
Avenue of the Americas

New
York, New York 10019

 

RE: Warrant
Lock-Up

 

Ladies
& Gentlemen:

 

FB
Loan Series I, LLC, a Delaware limited liability company (“Holder”), is the owner of a Warrant to Purchase
Common Stock, dated March 16, 2020 (as amended from time to time, the “Warrant”), which is exercisable into
shares (“Warrant Shares”) of common stock, par value $0.0001 per share, of fuboTV Inc., a Florida corporation
(the “Company” and “Common Stock”).

 

For
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Holder and the Company hereby
agree as follows:

 

1. Definitions.
As used in this letter agreement, the following terms have the meanings indicated below:

 

“Completion
of the Offering” shall mean the settlement of the first sale of Common Stock pursuant to the registration statement
for the Offering.

 

“Lock-up
Period” shall mean the period beginning on the date hereof and continuing through the earlier of close of trading (i)
on January 7, 2021, or (ii) the first date on which any share of Common Stock trades on the New York Stock Exchange, or any other
national securities exchange, in excess of $18.00.

 

“No
Exercise Period” shall mean the period beginning on the date hereof and continuing through the earliest of close of
trading on (i) October 15, 2020, (ii) the first date on which any share of Common Stock trades on the New York Stock Exchange,
or any other national securities exchange, in excess of $14.00, and (iii) the date of the Completion of the Offering.

 

“Offering”
shall mean the Company’s proposed public offering of Common Stock for which Evercore Group L.L.C. (“Evercore”)
will act as the representative of the underwriters.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

“Sell
or Offer to Sell” shall mean to, directly or indirectly, (i) sell, offer to sell, contract to sell or lend, (ii) pledge,
hypothecate or grant any security interest in, or (iii) in any other way transfer or dispose of.

 

2. Lock-Up.
During the Lock-up Period, the Holder will not, without the prior written consent of the Company, Sell or Offer to Sell the
Warrant or any Warrant Shares. The foregoing restriction shall not apply to the transfer of the Warrant or the Warrant Shares
to an Affiliate (as defined in the Warrant) of the Holder; provided, however, that it shall be a condition to such
transfer that the transferee agrees in writing to be bound by the provisions of this letter agreement. For the avoidance of
doubt, this Section 2 shall not apply to the 900,000 shares of Common Stock currently owned by the Holder (the
“Existing Shares”).

 

    	 

    	 

    

 

3. No
Exercise of Warrant. During the No Exercise Period, the Holder will not, without the prior written consent of the
Company, exercise the Warrant. Following the No Exercise Period, the Holder shall be able to exercise the Warrant, including
on a net exercise or cashless basis, and nothing in this letter agreement, including Section 2, shall prohibit such
exercise.

 

4. Registration
Rights. The Company shall (a) file a registration statement on Form S-1 or S-3 which includes the Warrant Shares on the
earlier to occur of (i) the date of filing of the next registration statement for any capital stock of the Company or (ii)
November 15, 2020; and (b) have been approved to list the Common Stock for trading on a national securities exchange prior to
the effective date of such registration statement. The Company shall diligently prosecute and shall timely respond to all
requests and mandates from applicable governmental authorities in connection with the registration and listing applications
referred to in this Section 4. Without limiting the foregoing, the Holder agrees, during the period beginning on the date
hereof and continuing through the close of trading on November 15, 2020, not to make any other demand for, or exercise any
right with respect to, the registration under the Securities Act of the offer and sale of the Warrant Shares or the Existing
Shares.

 

5. Release
of Undersigned. The Holder shall be immediately released from all obligations hereunder if (i) the Company notifies
Evercore in writing that it does not intend to proceed with the Offering, (ii) the underwriting agreement for the Offering is
not executed before November 1, 2020, (iii) the underwriting agreement for the Offering terminates or is terminated, or (iv)
the Company fails to timely perform its obligations under Section 4.

 

6. Miscellaneous. The
following Sections of the Warrant are hereby incorporated into this letter agreement by reference, mutatis mutandis: 8
(Notice), 9 (Amendment and Waiver), and 10 (Governing Law; Jurisdiction; Jury Trial).

 

[Signature
page follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this letter as of the date first written above.

 

	FB
    LOAN SERIES I, LLC	 	FUBOTV
    INC.
	 	 	 	 	 
	By:
    	      	 	By:	       
	Name:
    	 	 	Name:	 
	Title:	 	 	Title:

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