Document:

Exhibit
10.2

 

THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”).

 

MPHASE
TECHNOLOGIES, INC.

8%
CONVERTIBLE REDEEMABLE PROMISSORY NOTE

 

	$99,225.00	Issue
    Date: August 19, 2020
	 	Maturity
    Date: August 19, 2021

 

FOR
VALUE RECEIVED, mPhase Technologies, Inc., a New Jersey corporation (the “Company”), hereby promises to
pay to the order of [___] and its authorized successors and permitted assigns (“Holder”), the aggregate principal
face amount of Ninety-Nine Thousand Two Hundred Twenty-Five U.S. Dollars and Zero Cents ($99,225.00) (the “Principal
Amount”) on August 19, 2021 (“Maturity Date”). The Company will pay interest on the Principal Amount
outstanding at the rate of eight percent (8%) per annum, which will commence on August 19, 2020 (the “Issue Date”).
The Company acknowledges that this Note was issued with a Four Thousand Seven Hundred Twenty-Five U.S. Dollars and Zero Cents
($4,725.00) original issue discount (“OID”) such that the issuance price was Ninety-Four Thousand, Five Hundred
U.S. Dollars and Zero Cents ($94,500.00). The interest will be paid to the Holder in whose name this Note is registered on the
records of the Company regarding registration and transfers of this Note. The principal of, and interest on, this Note are payable
at [___], initially, and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof
from time to time. The Company shall pay the aggregate unpaid Principal Amount and accrued and payable interest under this Note
on or before the Maturity Date, less any amounts required by law to be deducted or withheld, to the Holder of this Note by check
or wire transfer addressed to such Holder at the last address appearing on the records of the Company. The forwarding of such
check or wire transfer shall constitute a payment of outstanding Principal Amount and accrued and payable interest under this
Note and shall satisfy and discharge the liability for amounts owing under this Note to the extent of the sum represented by such
check or wire transfer.

 

This
Note is subject to the following additional provisions:

 

1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested
by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange, except that
Holder shall pay any tax or other governmental charges payable in connection therewith.

 

2.
Under all applicable laws, the Company shall be entitled to withhold any amounts from all payments it is entitled to.

 

 

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3.
This Note may only be transferred or exchanged in compliance with the Securities Act of 1933, as amended (“Securities
Act”) and any applicable state securities laws. All attempts transfer to a non-qualifying party shall be treated by
the Company as void. Prior to due presentment for transfer of this Note, the Company and any agent of the Company may treat the
person in whose name this Note is duly registered on the Company’s records as the owner hereof for all other purposes, whether
or not this Note be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary.
Any Holder of this Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements
set forth in Section 4(a), and any prospective transferee of this Note, also is required to give the Company written confirmation
that this Note is being converted (“Notice of Conversion”) in the form annexed hereto as Exhibit A.
The date of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Con- version Date.

 

4.
(a) The Holder of this Note has the option, beginning on the issuance date of this Note, to convert all or any amount of the unpaid
Principal Amount and accrued and unpaid interest under this Note then outstanding into shares of common stock, par value $0.01
per share (the “Common Stock”), of the Company at a price (“Conversion Price”) for each
share of Common Stock equal to forty percent (40%) discount of the lowest closing price of the Common Stock as reported
on the interdealer quotation system or exchange on which the Company’s shares are traded or any exchange upon which the
Common Stock may be traded in the future (“Exchange”), for the twenty (20) prior
trading days, including the day upon which a Notice of Conversion is received by the Company (provided such Notice of Conversion
is delivered by fax or other electronic method of communication to the Company after 4 P.M. Eastern Standard or Daylight Savings
Time if the Holder wishes to include the same day closing price). The Company shall deliver the shares of Common Stock to the
Holder within three (3) business days of receipt by the Company of the Notice of Conversion and the Holder may rescind such Notice
of Conversion if such shares of Common Stock have not been delivered within three (3) business days. The Holder shall surrender
this Note to the Company upon receipt of the shares of Common Stock, executed by the Holder. This will make clear the Holder’s
intention to convert this Note or a specified portion hereof, and accompanied by proper assignment hereof in blank. Accrued but
unpaid interest shall be subject to conversion. The number of issuable shares of Common Stock will be rounded up to the nearest
whole share, and no fractional shares or scrip representing fractions of shares will be issued on conversion. In the event
the Company experiences a DTC “Chill” on its shares, the Conversion Price discount shall be increased to 55% while
that “Chill” is in effect. Notwithstanding anything to the contrary contained in the Note (except as set forth
below in this Section), the Note shall not be convertible by Holder, and Company shall not affect any conversion of the Note or
otherwise issue any shares of Common Stock to the extent (but only to the extent) that Holder together with any of its affiliates
would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the outstanding shares of Common Stock
(which maybe increased up to 9.99% upon sixty (60) days’ prior written notice by the Holder to the Company). To the extent
the foregoing limitation applies, the determination of whether a Note shall be convertible (vis-à-vis other convertible,
exercisable or exchangeable securities owned by Holder or any of its affiliates) and of which such securities shall be convertible,
exercisable or exchangeable (as among all such securities owned by Holder and its affiliates) shall, subject to such Maximum Percentage
limitation, be determined on the basis of the first submission to Company for conversion, exercise or exchange (as the case may
be). No prior inability to convert a Note, or to issue shares of Common Stock, pursuant to this Section shall have any effect
on the applicability of the provisions of this Section with respect to any subsequent determination of convertibility. For purposes
of this Section, beneficial ownership and all determinations and calculations (including, without limitation, with respect to
calculations of percentage ownership) shall be determined in accordance with Rule 13d-3 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder. The provisions of this
Section shall be implemented in a manner otherwise than in strict conformity with the terms of this Section to correct this Section
(or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation
herein contained or to make changes or supplements necessary or desirable to properly give effect to such Maximum Percentage limitation.
The limitations contained in this Section shall apply to a successor holder of this Note and shall be unconditional, irrevocable
and non-waivable. For any reason at any time, upon the written or oral request of Holder, Company shall within one (1) business
day confirm orally and in writing to Holder the number of shares of Common Stock then outstanding, including by virtue of any
prior conversion or exercise of convertible or exercisable securities into Common Stock, including, without limitation, pursuant
to this Note.

 

 

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(b)
During the first six (6) months after the Issue Date, the Company may redeem this Note by paying to the Holder an amount as follows:
(i) if within the first 60 days of the Issue Date, then an amount equal to 110% of the Principal Amount and accrued interest thereon;
(ii) if on or after the 61st day but before the 90th day after the Issue Date, then 120% of the Principal Amount and accrued interest
thereon; (iii) if on or after the 91st day after the Issue Date until the 120th day after the Issue Date, then 130% of the Principal
Amount and accrued interest thereon; (iv) if on or after the 121st day after the Issue Date until the 180th day after the Issue
Date, then 140% of the Principal Amount and accrued interest thereon. This Note may not be redeemed after 180 days of the Issue
Date. The redemption must be closed and paid for within three (3) business days of the Company sending the redemption demand or
the redemption will be invalid and the Company may not redeem this Note. All payments made hereunder shall be applied first to
the payment of any fees or charges outstanding hereunder, second to accrued interest, and third to the payment of the principal
amount outstanding under the Note.

 

(c)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of
related transactions, (ii) a reclassification, capital reorganization or other change or exchange of outstanding shares of the
Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the Company
with or into another person or entity in which the Company is not the surviving entity (other than a merger which is effected
solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or exchange of
outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred to as
a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash
for 150% of the principal amount, plus accrued but unpaid interest through the date of redemption, or at the election of the Holder,
such Holder may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into
shares of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

(d)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection with
which this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder of this
Note shall have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and number of shares
of stock or other securities or property (including cash) receivable upon such reclassification, capital reorganization or other
change, consolidation or merger by a holder of the number of shares of Common Stock that could have been purchased upon exercise
of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such Sale Event. The foregoing provisions
shall similarly apply to successive Sale Events. If the consideration received by the holders of Common Stock is other than cash,
the value shall be as determined by the Board of Directors of the Company or successor person or entity acting in good faith.

 

 

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5.
No provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

6.
The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest, notice
of dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for
hereunder and shall be directly and primarily liable for the payment of all sums owing and to be owing hereto.

 

7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be incurred
by the Holder in collecting any amount due under this Note.

 

8.
While this Note is outstanding and to the extent the Company grants any other party a convertible debt security with more favorable
investment terms, which will include but not be limited to, interest rate, original issue discount, conversion discount or look-back
period. The terms of the Note shall automatically adjust to match those more favorable terms.

 

9.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company;
or

 

(b)
Intentionally blank

 

(c)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written statements
heretofore or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or
the Securities Purchase Agreement under which this note was issued shall be false or misleading in any respect; or

 

(d)
The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or obligation
of the Company under this Note or any other note issued to the Holder; or

 

(e)
The Company shall (i) become insolvent; (ii) admit in writing its inability to pay its debts generally as they mature; (iii) make
an assignment for the benefit of creditors or commence proceedings for its dissolution; (iv) apply for or consent to the appointment
of a trustee, liquidator or receiver for its or for a substantial part of its property or business; (v) file a petition for relief,
consent to the filing of such petition or have filed against it an involuntary petition for bankruptcy relief, all under federal
or state laws as applicable; or

 

 

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    	4

     

    

 

(f)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without
its consent and shall not be discharged within sixty (60) days after such appointment; or

 

(g)
Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody
or control of the whole or any substantial portion of the properties or assets of the Company; or

 

(h)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of one hundred thousand dollars ($100,000)
in the aggregate, shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid,
unvacated, unbonded or unstayed for a period of fifteen (15) days or in any event later than five (5) days prior to the date of
any proposed sale thereunder; or

 

(i)
The Company shall have defaulted on or breached any term of any other note of similar debt instrument into which the Company has
entered with Holder and failed to cure such default within the appropriate grace period; or

 

(j)
The Company shall have its Common Stock delisted from an exchange (including the OTC Markets’ interdealer quotation system)
or, if the Common Stock trades on an exchange, then trading in the Common Stock shall be suspended for more than ten (10) consecutive
days; or

 

(k)
If a majority of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of the
Board; or

 

(l)
The Company shall not deliver to the Holder the Common Stock pursuant to Section 4 herein without restrictive legend within three
(3) business days of its receipt of a Notice of Conversion; or

 

(m)
The Company shall not be “current” in its filings with the Securities and Exchange Commission; or

 

(n)
The Company shall lose the “bid” price for its stock in a market (including the OTCQB marketplace or other exchange);
or

 

(o)
A conversion of this Note is delayed due to a balance owed by the Company to its Transfer Agent; or

 

(p)
The Company shall (1) not replenish the reserve set forth in Section 14, within 3 business days of the request of the Holder,
(2) change Transfer Agents without providing notice and an updated and signed Transfer Agent Letter within 5 business days of
the change.

 

(q)
Following any Event of Default, the Conversion Price discount shall be permanently increased an additional five percent (5%);
or

 

 

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    	5

     

    

 

Then,
or at any time thereafter, unless cured within five (5) days, and in each and every such case, unless such Event of Default shall
have been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option
of the Holder and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without
presentment, demand, protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly
waived, anything herein or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately,
and without expiration of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or
any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24%
per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law.
In the event of a breach of Section 9(l) the penalty shall be $250 per day the shares are not issued beginning on the 4th day
after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day beginning on the 10th day.
The penalty for a breach of Section 9(n) shall be an increase of the outstanding principal amounts by 20%. In case of a breach
of Section 9(j), (k), (l) or (m) the outstanding Principal Amount under this Note shall increase by 50%. If this Note is not paid
at maturity, the outstanding principal due under this Note shall increase by 10%.

 

If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

At
the Holder’s election, if the Company fails for any reason to deliver to the Holder the Conversion Shares by the by the
3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder incurs a Failure to Deliver
Loss, then at any time the Holder may provide the Company written notice indicating the amounts payable to the Holder in respect
of the Failure to Deliver Loss and the Company must make the Holder whole as follows:

 

Failure
to Deliver Loss = [(High trade price at any time on or after the day of exercise) x (Number of conversion shares)]

 

The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day
from the time of the Holder’s written notice to the Company.

 

10.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the
Company of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law
or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing
any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic
loss and without any bond or other security being required.

 

 

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11.
In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid
or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent
possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected or impaired
thereby.

 

12.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed
by the Company and the Holder.

 

13.
The Company represents that it is not a “shell company” (as defined in Rule 405 of the Securities Act and Rule 12b-2
under the Exchange Act) and has never been a “shell company” (including its predecessors) or that if it or its predecessors(s)
previously has been a “shell company” that at least twelve (12) months have passed since the Company has reported
“Form 10” type information indicating it is no longer a “shell company.” Further, the Company will instruct
its counsel to either (i) write a Rule 144 opinion to allow for salability of the conversion shares or (ii) accept such opinion
from Holder’s counsel.

 

14.
The Company shall reserve 18,298,736 shares of Common Stock for conversions under this Note (the “Share Reserve”).
The Holder shall have the right to periodically request that the number of Reserved Shares be increased so that the number of
Reserved Shares equals no fewer than 300% of the number of shares of Company Common Stock issuable upon conversion of the Note.
The Company shall pay all costs associated with issuing and delivering the shares. At all times, the reserve shall be maintained
with the Transfer Agent at three (3) times the amount of shares required if the Note would be fully converted.

 

15.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits,
recapitalizations, etc. This notice shall be given to the Holder as soon as possible under law.

 

16.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to
be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder
and the Company hereby mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State
of New York. This Agreement may be executed in counterparts, and the facsimile transmission of an executed counterpart to this
Agreement shall be effective as an original.

 

[SIGNATURE
PAGE FOLLOWS]

 

 

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    	7

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

	 	MPHASE
    TECHNOLOGIES, INC.
	 	 
	Dated:
    8/19/20	By:	 
	 	Name:	Anshu
    Bhatnagar
	 	Title:	Chief
    Executive Officer

 

 

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    	8

     

    

 

EXHIBIT
A

 

NOTICE
OF CONVERSION

 

(To
be Executed by the Registered Holder in order to Convert the Note)

 

The
undersigned hereby irrevocably elects to convert $_________________ of the above Note into __________ shares of Common Stock (the
“Shares”) of MPhase Technologies, Inc. according to the conditions set forth in such Note, as of the date written
below.

 

If
Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes
and charges payable with respect thereto.

 

Date
of Conversion: ______________________________________________________________

Applicable
Conversion Price: ____________________________________________________

Signature:
______________________________________________________________________

[Print
Name of Holder and Title of Signer]

Address:
_______________________________________________________________________

______________________________________________________________________

 

SSN
or EIN: ___________________________

Shares
are to be registered in the following name: _____________________________________________

 

Name:_________________________________________________________________________

Address:_______________________________________________________________________

Tel:
___________________________________________

Fax:___________________________________________

SSN
or EIN: ____________________________________

 

Shares
are to be sent or delivered to the following account:

 

Account
Name: _____________________________________________________________________

Address:
__________________________________________________________________________

 

 

Initials

 

    	9Exhibit 10.1

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	NHL
        ENTERPRISES, L.P.

        1185
        Avenue of the Americas

        New
        York, New York 10036 

        Tel:
        (212) 789-2000 

        Fax:
        (212) 789-2020
	 

 

RETAIL
LICENSE AGREEMENT

 

	 	 	No.:	[*]
	 	 	 	 
	 	 	Date:	May
    28, 2020
	 	 	 	 
	LICENSEE:	Big
    League Foods, Inc., a Division of Verus Foods	Tel:	(301)
    329-2700
	 	 	 	 
	ADDRESS:	9841
    Washingtonian Blvd., Suite 390	Fax:
	 
	 	Gaithersburg,
MD 20878	 	 
	 	USA	Attn.:	Jim
    Wheeler

 

NHL
ENTERPRISES, L.P. (“NHLE”) has the right to license for commercial purposes the use of certain properties
of the National Hockey League (“NHL”) and of the teams comprising said League (“Member Teams”)
in the Territory, specifically - the names, nicknames, slogans, symbols, logos, emblems, insignia, colors, uniform designs and
other indicia of each of the Member Teams of the NHL; the city or regional identification of each of the Member Teams in conjunction
with their colors and an appropriate professional ice hockey reference; the name, initials, insignia, colors and other indicia
of the NHL, including the Conference and Division names and/or logos; the name and likeness of the Stanley Cup; the name (including
the applicable year) and logo (as designed for such year and designated by NHLE) of the NHL All-Star Game; the name (including
the applicable year) and logo (as designed for such year and designated by NHLE) of the NHL Winter Classic; the name (including
the applicable year) and logo (as designed for such year and designated by NHLE) of the NHL Stadium Series; the name (including
the applicable year) and logo (as designed for such year and designated by NHLE) of the NHL Heritage Classic; certain characters
and/or mascots (including the name and other indicia related thereto, as applicable) used by the Member Teams to symbolize and/or
represent such Member Team, which characters and/or mascots shall be determined by NHLE, in its sole discretion (such characters
and/or mascots, as may be designated and changed from time to time, the “Member Team Character Marks”); and
certain names, logos, designs, colors and other indicia formerly used by the Member Teams which marks shall be determined by NHLE,
in its sole discretion (such marks, as may be changed from time to time, the “Vintage Hockey Marks”) (collectively,
including the Vintage Hockey Marks, the “NHL Marks”); and that except as stated in paragraph 3(a) hereinafter,
no other entity has the right to license said NHL Marks in the Territory for such purposes.

 

LICENSEE,
whose full name and address are set forth above, desires to obtain the right from NHLE to utilize the NHL Marks in connection
with the manufacture, distribution, sale and advertising of certain products specified hereinafter (the “Products”)
in accordance with the conditions and provisions set forth in this License Agreement.

 

Therefore,
in consideration of the promises, covenants and undertakings contained in this License Agreement, the parties hereto agree, as
follows:

 

	 	1.	GRANT
    OF LICENSE.

 

For
purposes of this License Agreement, the definitions set forth in paragraph numbered 2 below shall be applicable and controlling.
Subject to such definitions, NHLE hereby grants to LICENSEE the non-exclusive right to use the NHL Marks on the Products
throughout the Territory during the Term in accordance with all of the provisions, conditions, and undertakings
specified hereinafter in this License Agreement.

 

    	 	1	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	(a)	PRODUCT(S).
    The Products are as follows:

 

confectionary,
namely chocolate, gum and gummies.

 

[*]

 

Without
limitation to paragraph 17 below, LICENSEE understands and agrees that it is LICENSEE’s responsibility to secure, and LICENSEE
hereby represents and warrants that it has so secured, whatever rights may be required for the use of any other proprietary matter
which is not licensed to LICENSEE by NHLE under the License Agreement in connection with the Licensed Products. LICENSEE further
understands and agrees that neither the execution hereof nor any grant of approval hereunder nor any other act or omission by
NHLE shall operate or be construed as a grant by NHLE of any such rights or as approval by NHLE of the use of such proprietary
matter in connection with the Licensed Products in the event LICENSEE shall not have secured such rights.

 

(Each
individual item must be reviewed and approved

in writing by NHLE prior to manufacturing.)

 

	 	(b)	TERRITORY.
    The Territory is the United States, including its territories and possessions and its Armed Forces bases and exchanges.
	 	 	 
	 	(c)	TERM.
    The Term hereof shall be for the period commencing on July 1, 2020 and terminating on June 30, 2022.
	 	 	 
	 	(d)	LICENSEE
    PAYMENTS. In consideration for the rights herein granted to LICENSEE, LICENSEE shall pay to NHLE the following:
	 	 	 	 
	 	 	(i)	Royalty
    Rate: LICENSEE will pay NHLE at such times and under the circumstances specified hereinafter, a Royalty Payment
    calculated as follows (or subject to NHLE’s applicable prevailing rate, whichever is greater): for Licensed Sales,
    [*] percent ([*]%) times Net Sales; and
	 	 	 	 
	 	 	(ii)	Guaranteed
    Minimum Payments: The Guaranteed Minimum Payments in U.S. dollars to be credited against Royalty Payments due NHLE
    are as follows:

 

	 	AMOUNT	DUE
    DATE

 

For
the License Year beginning 7/1/20 to 6/30/21:

$[*]
U.S.                        [*]

 

For
the License Year beginning 7/1/21 to 6/30/22:

$[*]
U.S.                         [*]

 

TOTAL
GUARANTEED MINIMUM PAYMENTS:

$[*]
U.S.

 

Amounts
paid in excess of the Guaranteed Minimum Payment for a License Year may not be applied to reduce or offset the Guaranteed Minimum
Payment due for another License Year.

 

	 	(e)	ACCESS
    TO NHL MARKS. Throughout the Term, LICENSEE shall maintain a subscription at the then-prevailing cost to the service(s)
    designated by NHLE providing for electronic access to NHL Marks.
	 	 	 
	 	(f)	MIGHTY
    DUCKS OF ANAHEIM. LICENSEE acknowledges that affiliates of the former owner of the Member Team currently known as
    the “Anaheim Ducks” and formerly known as the “Mighty Ducks of Anaheim” own, control and/or commercially
    exploit properties associated with the “Mighty Ducks” mark (e.g., motion pictures, animated television cartoon
    series, etc.). The grant of license described herein will not apply to such properties or any trademarks, copyrights or other
    intellectual property rights associated with such properties, as distinguished from the operations of such Member Team.

 

    	 	2	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

STANDARD
TERMS AND CONDITIONS

 

	 	2.	DEFINITIONS.

 

	 	(a)	“Territory”
    - the geographical area in which LICENSEE is authorized to use the NHL Marks - is specified in paragraph 1(b) above.
	 	 	 
	 	(b)	“License
    Year” means the period commencing on the first day of the Term and on each following July 1st and ending on
    the following June 30th during the Term.
	 	 	 
	 	(c)	“Term”
    - the period during which this License Agreement is in effect whether or not it is renewed - is set forth in paragraph
    1(c) above.
	 	 	 
	 	(d)	“Product(s)”
    are identified in paragraph 1(a) above, and become “Licensed Product(s)” when LICENSEE applies
    or uses the licensed NHL Marks strictly in accordance with the provisions, conditions and undertakings set forth in this License
    Agreement.
	 	 	 
	 	(e)	“Premiums”
    means any product, including but not limited to Licensed Product(s), sold at any price or given away for the purpose of
    promoting, publicizing or increasing the sale of any other product or service, including but not limited to incentives for
    a sales force or distributorship(s), or for trade or consumer promotions.
	 	 	 
	 	(f)	“Licensed
    Sales” means Licensed Direct Sales and Licensed Indirect Sales, collectively. “Licensed Direct Sales”
    means the sale of Licensed Products directly to [*]. “Licensed Indirect Sales” means the sale of Licensed
    Products directly to or for [*]. Licensed Sales do not include the sale of Licensed Products as Premiums, which require separate
    agreements executed by NHLE with both the manufacturer and user of the Premium.
	 	 	 
	 	(g)	“Net
    Sales” means the sum of Net Direct Sales and Net Indirect Sales. “Net Direct Sales” means
    the gross amount of Licensed Direct Sales of Licensed Products in U.S. dollars at the retail selling price; no deductions
    shall be made for costs incurred in manufacturing, selling (including without limitation credit card processing fees, chargebacks
    and similar fees and charges), distributing, advertising (including affiliate and other commissions), or for uncollectible
    accounts. “Net Indirect Sales” means the gross amount of Licensed Indirect Sales of Licensed Products in
    U.S. dollars at the invoiced selling price net normal and reasonable cash and quantity discounts and returns for credit; no
    deductions shall be made for costs incurred in manufacturing, selling, distributing, advertising (including cooperative and
    promotional allowances), or for uncollectible accounts.
	 	 	 
	 	(h)	“Royalty
    Payment” means the Royalty Rate(s) specified in paragraph 1(d)(i) above times Net Sales of Licensed Products,
    calculated and payable in U.S. dollars to NHLE; the Royalty Rate(s) shall be calculated at NHLE’s prevailing standard
    percentage rate(s) of Net Sales to retail accounts, Distributors, and/or direct to consumers (as applicable), which percentage
    rate(s) may be increased for all or virtually all retail licenses for any License Year upon two hundred and seventy (270)
    days prior notice to LICENSEE.
	 	 	 
	 	(i)	“Guaranteed
    Minimum Payment” - the minimum amount of Royalty Payment in U.S. dollars which LICENSEE shall pay for each License
    Year, irrespective of the amount of Net Sales actually made during such period - is specified in paragraph 1(d)(ii) above.
	 	 	 
	 	(j)	Intentionally
    Omitted.
	 	 	 
	 	(k)	“NHL
    Indicia” means the following matter as it appears on or in connection with Licensed Products or packaging, labeling,
    advertising or promotional material therefor or related thereto: (1) NHL Marks; (2) words, phrases, slogans and the like (“Words”)
    derived from or incorporating NHL Marks; (3) caricatures, graphics, images, designs and the like (“Graphics”)
    derived from NHL Marks or incorporating NHL Marks or any recognizable part thereof; (4) Words or Graphics that are hockey
    specific; and (5) Words or Graphics that are used exclusively or substantially exclusively in association with NHL Marks or
    other NHL Indicia. Words and Graphics that appear on or in connection with Licensed Products or packaging, labeling, advertising
    or promotional material therefor or related thereto and which either (x) were used by LICENSEE in an ordinary commercial manner
    on unlicensed products or products licensed by others prior to the entry by LICENSEE into negotiations with NHLE for this
    License Agreement, or (y) are virtually identical to elements so used by LICENSEE on unlicensed products or on products licensed
    by others, shall not be deemed to be NHL Indicia pursuant to clause (5) above.

 

    	 	3	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	(l)	“Distributor”
    means any entity or individual that acquires Licensed Products for the purpose of resale to retailers or to any other
    entity or individual that is not the ultimate consumer.

 

	 	3.	LIMITATIONS
    OF LICENSE.

 

In
addition to the provisions, conditions and under-takings set forth in other paragraphs herein, the license granted to LICENSEE
is subject to the following understandings, limitations and conditions:

 

	 	(a)	[*]
	 	 	 
	 	(b)	[*]
	 	 	 
	 	(c)	This
    license to use the NHL Marks does not constitute and may not be used to imply the endorsement of the Licensed Product(s) or
    any other product of LICENSEE, and the NHL Marks are not licensed herein as certification marks or an indication of a particular
    standard of quality.
	 	 	 
	 	(d)	LICENSEE
    may not sell, distribute or make available Licensed Products as Premiums without a prior written license agreement from NHLE.
    In the event such a license is granted to LICENSEE, the Licensed Products may only be sold to a user specifically approved
    and licensed by NHLE for such purpose pursuant to a separate agreement.
	 	 	 
	 	(e)	The
    Licensed Products shall not knowingly be sold or distributed for retail sale in combination with any other product for a single
    price to the exclusion of the opportunity to purchase the Licensed Products separately.
	 	 	 
	 	(f)	LICENSEE
    will not sell the Licensed Products to parties outside the Territory or whom it knows or reasonably should know will resell
    or distribute the Licensed Products outside the Territory.
	 	 	 
	 	(g)	This
    license is personal to LICENSEE and LICENSEE shall not assign, transfer or sub-license any or all of the rights granted herein
    to any third party without the written consent of NHLE. LICENSEE shall not pledge or encumber this license or any Licensed
    Products as security or collateral for any obligation of LICENSEE.
	 	 	 
	 	(h)	No
    use of the NHL Marks shall be preprinted by LICENSEE on its stationery, envelopes, business cards, invoices, statements, packing
    slips or other similar documents or materials unless approved in advance by NHLE.
	 	 	 
	 	(i)	If
    LICENSEE desires to purchase or otherwise obtain the Licensed Products it is authorized to sell under this License Agreement
    from any other entity, then LICENSEE must first receive NHLE’s permission to do so and such other entity and LICENSEE
    must enter into an agreement in the form attached hereto as Exhibit A (the “Manufacturer’s Agreement”),
    which Manufacturer’s Agreement limits such other entity’s rights solely to supplying LICENSEE with Licensed Products.
	 	 	 
	 	(j)	LICENSEE
    agrees that it will cause to appear conspicuously, indelibly and legibly on each of the Licensed Product(s) and on all advertising
    material, tags, labels and devices bearing any of the NHL Marks or other NHL Indicia, such proper trademark, copyright or
    other notices of property right in the NHL Marks or other NHL Indicia or other material as may be designated by NHLE. In addition,
    LICENSEE shall place a notice specified by NHLE that the Licensed Products are genuine merchandise officially licensed.

 

    	 	4	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	(k)	In
    the event LICENSEE uses authors, photographers, artists or any other persons to create and/or design NHL Indicia for or in
    connection with the Licensed Products or packaging, labeling, advertising or promotional material therefor or related thereto,
    LICENSEE shall either use personnel within its employ so such work qualifies as a “work made for hire” under the
    Copyright Act (17 U.S.C. §101) and assign copyright in such work to NHLE, or, if LICENSEE engages personnel under conditions
    which do not give rise to such a “work made for hire,” LICENSEE shall obtain an assignment of copyright to NHLE
    of any copyrightable material prepared or depicted by such author, photographer, artist or other person for the Licensed Products
    or such packaging, labeling, advertising or promotional material. Such obligations shall apply only to those parts of otherwise
    unified textual or graphic matter which qualify as NHL Indicia. In addition to all other rights and remedies afforded by this
    License Agreement and applicable law, LICENSEE agrees to hold harmless NHLE, the NHL and its Member Teams, other NHLE licensees
    and the partnership, partners, principals, officers, directors, employees and agents thereof, from any claim, suit or damage,
    including attorneys’ fees, judgments, court costs and consequential damages, that arise out of LICENSEE’s failure
    to deliver to NHLE the assignment(s) of copyright required by this provision.
	 	 	 
	 	(l)	LICENSEE
    further agrees that it will not apply for or seek to obtain trademark, copyright or any other proprietary right in the NHL
    Marks or any other NHL Indicia on Licensed Products or packaging, labeling, advertising or promotional material therefor or
    related thereto. NHLE, the NHL and/or any or all of its Member Teams, jointly and severally, may, at their option, apply for
    and obtain in any or all of their own names trademark, copyright or other property right protection for the NHL Marks or other
    NHL Indicia (furnished or provided by LICENSEE or NHLE) for the Licensed Product(s) or packaging, labeling, advertising or
    promotional material therefor or related thereto. Upon request, LICENSEE will furnish (i) necessary specimens or facsimiles
    for such purpose free of cost, (ii) evidence of the date of first shipment or sale of each Licensed Product in commerce and
    also, if earlier, in intrastate commerce, and (iii) such additional information documents, specimens and facsimiles as may
    be reasonably required to evidence and perfect the trademark, copyright or other property right protection for the NHL Marks
    or other NHL Indicia (all free of cost).
	 	 	 
	 	(m)	If
    demanded by LICENSEE, NHLE shall undertake to procure and obtain in its own name, or the name of the National Hockey League
    or any or all of its Member Teams, trademark, copyright, design patent or other property right protection of the NHL Marks
    or other matter (furnished or provided by NHLE or LICENSEE) for the Licensed Product(s) at LICENSEE’s expense, including
    reasonable attorneys’ fees.
	 	 	 
	 	(n)	LICENSEE
    agrees that if LICENSEE receives knowledge of any manufacture or sale by anyone other than LICENSEE of products licensed under
    this License Agreement or of such products as would be confusingly similar in the minds of the public and which bear or are
    promoted in association with the NHL Marks or other NHL Indicia under this License Agreement, or any names, symbols, emblems,
    designs or colors which may be confusingly similar in the minds of the public to such NHL Marks or other NHL Indicia, LICENSEE
    will call such fact to the attention of NHLE. NHLE shall then have the exclusive right in its sole discretion to prosecute
    any such manufacture or sale, either in its own name or the name of the National Hockey League and/or one or more of its Member
    Teams, and LICENSEE shall cooperate and assist in the prosecution of any such action. If demanded by NHLE, LICENSEE shall
    join in or cooperate in the prosecution of any such action as may be instituted by NHLE; all such prosecution shall be at
    NHLE’s expense, including reasonable attorneys’ fees. The proceeds recovered in any such prosecution in the form
    of damages, profits or other recovery shall belong solely to NHLE. LICENSEE shall not commence any action of its own to restrain
    or recover damages for any alleged infringements of the NHL Marks or other NHL Indicia without first obtaining express written
    permission to do so from NHLE.
	 	 	 
	 	(o)	NHLE
    specifically disclaims any representation or warranty (express or implied) of non-infringement and any liability resulting
    from use of the NHL Marks by LICENSEE as may occur outside of the Territory, including if applicable and without limitation,
    via the Internet.
	 	 	 
	 	(p)	LICENSEE
    will not attack the title or right of NHLE or the NHL and/or its Member Teams in and to the NHL Marks, other NHL Indicia or
    any copyright or trademark pertaining thereto, nor will it attack the validity of the License granted hereunder during the
    Term hereof or thereafter.
	 	 	 
	 	(q)	LICENSEE
    will not harm, misuse or bring into disrepute the NHL Marks, their reputation or that of their owners.

 

    	 	5	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	(r)	There
    is no right to renew this License Agreement, and no options to extend this License Agreement have been granted or are implied
    hereunder.
	 		 
	 	(s)	LICENSEE
    will manufacture, sell and distribute the Licensed Product(s) in an ethical manner and in accordance with the terms and intent
    of this License Agreement.
	 	 	 
	 	(t)	LICENSEE
    will not incur or create any expenses chargeable to NHLE, the NHL or its Member Teams without the prior written approval of
    NHLE.
	 	 	 
	 	(u)	LICENSEE
    will protect to the best of its ability, its right to manufacture, sell and distribute the Licensed Product(s) hereunder.
	 	 	 
	 	(v)	LICENSEE
    will (i) comply with all laws and regulations relating or pertaining to the manufacture, sale, advertising and use of the
    Licensed Product(s) (including, without limitation, the Consumer Product Safety Act and any amendments thereto (the “CPSA”));
    (ii) maintain high quality and standards commensurate with LICENSEE’s market; (iii) cause the Licensed Product(s) to
    be labeled, packaged and distributed in such a form, format and manner such that none of NHLE, the NHL or its Member Teams
    shall be deemed a “private labeler” under the CPSA; and (iv) comply with any regulatory agencies which shall have
    jurisdiction over the Licensed Product(s).
	 	 	 
	 	(w)	LICENSEE
    will never disclose any confidential and non-public information about NHLE, the NHL and/or its Member Teams which it acquires
    from any source during the Term hereof.
	 	 	 
	 	(x)	LICENSEE
    has the right to promote and/or sell (as specifically approved by NHLE) Licensed Products solely on such websites as NHLE
    may approve on a case-by-case basis in its discretion, in each case solely in the Territory and in the best interest of the
    license granted hereunder. Other than as set forth in the previous sentence, LICENSEE shall not have the right to use, reference
    or exploit, or to grant third parties the right to use, reference or exploit, the NHL Marks or other NHL Indicia on the Internet
    or any other on-line media in any manner whatsoever without NHLE’s prior written consent, which consent may be withheld
    in NHLE’s sole discretion.

 

	 	4.	REPORTS
    AND PAYMENTS.

 

On
or before the twentieth (20th) day following each month of the Term, LICENSEE shall submit to NHLE, or in accordance with written
instructions given by NHLE, a full and accurate statement showing, if instructed by NHLE by channel, the quantity, description
and Net Sales of each of the Licensed Products sold or distributed during such month on forms to be furnished by NHLE. Unless
otherwise agreed to by NHLE, each such statement shall indicate whether the Licensed Sales reflected thereon were to (i) Distributors;
(ii) retail accounts; or (iii) direct to consumer, if permitted. NHLE reserves the right to apply the Royalty Rate for Licensed
Sales to Distributors to any or all Licensed Sales reflected on a statement that does not comply with the foregoing requirement.
Simultaneously with the submission of such statement, LICENSEE shall remit the Royalty Payment due on Net Sales for each such
month by check or electronic transfer payable to “NHL Enterprises, L.P.” and delivered directly to NHLE or, in accordance
with written instructions given to LICENSEE by NHLE. Such statements shall be submitted whether or not they reflect any Net Sales
of Licensed Products. Receipt and acceptance by NHLE of any statement furnished by LICENSEE or Royalty Payments paid hereunder
shall not preclude NHLE from questioning the correctness thereof at any time; in the event any errors are disclosed, such statements
shall be rectified and any differences in Royalty Payments remitted within ten (10) days to NHLE. LICENSEE acknowledges that time
is of the essence in making payments to NHLE. If any payments to NHLE are not remitted on the date due, LICENSEE shall pay interest
at the rate of [*] per month from such date until payment thereof is made to NHLE. If requested by NHLE, LICENSEE at its own expense
shall provide NHLE within sixty (60) days of the end of each License Year a detailed statement for such License Year, certified
by an independent certified public accountant approved by NHLE, showing the Net Sales of each Licensed Product sold or distributed
by LICENSEE during such year, together with a computation of Royalty Payments on Net Sales due NHLE for such year.

 

	 	5.	CATALOG
    CONTRIBUTIONS.

 

NHLE
shall have the right but not the obligation to publish catalogs, sales sheets and brochures (“Catalogs”) during
any License Year in order to promote the sale of Licensed Products. The format and style of any such Catalog will be in NHLE’s
sole discretion. LICENSEE undertakes (i) to contribute to each such Catalog by furnishing, free of charge, such samples, artwork,
photography and the like as may be available to it and requested, and (ii) to participate in each such Catalog and pay for a minimum
of one page at NHLE’s prevailing rate to cover the cost of such publication, including distribution costs to retailers,
wholesalers, mail order houses and other outlets for Licensed Products. The payment by LICENSEE for such participation will be
in addition to any Guaranteed Minimum Payments and Royalty Payments due NHLE as specified herein.

 

    	 	6	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	6.	BOOKS
    AND RECORDS.

 

LICENSEE
agrees to keep accurate books of account and records covering all transactions relating to this License. NHLE and its duly authorized
representative shall have the right at all reasonable hours of the day to examine and audit such books of account and records
and all other documents and material in LICENSEE’s possession or under its control with respect to the subject matter and
terms of this License Agreement, and shall have free and full access thereto for such purposes. All such books of account and
records shall be kept available for at least two years after termination or expiration of this License Agreement. LICENSEE will
designate a symbol or number which will be used exclusively in connection with Licensed Products and with no other articles which
LICENSEE may manufacture, sell, or distribute. In the event that an audit by NHLE reveals an underpayment by LICENSEE, LICENSEE
shall immediately upon demand remit payment to NHLE in the amount of such underpayment plus interest calculated at the rate of
one-and-one-half percent (1.5%) per month from the date such payment was actually due until the date such payment is made. LICENSEE
shall reimburse NHLE for the entire costs and expenses of such audit if the underpayment is two percent (2%) or more than the
amount required to be paid to NHLE for the applicable License Year.

 

	 	7.	QUALITY
    CONTROL OF LICENSED PRODUCTS.

 

LICENSEE
agrees that the Licensed Product(s) shall be of high standard and of such style, appearance and quality as shall be adequate and
suitable to their promotion, distribution and sale to the best advantage of LICENSEE, NHLE, the NHL and its Member Teams. To this
end LICENSEE shall perform as follows:

 

	 	(a)	Before
    selling or distributing any of the Licensed Product(s), LICENSEE shall submit without charge designs and samples for each
    such Licensed Product, including all styles, colors and variations, together with its cartons and containers, including packaging
    and wrapping material, hang tags and labels (the “Related Materials”), for NHLE’s written approval
    in accordance with procedures specified hereafter. LICENSEE shall submit for review all Licensed Products and Related Materials
    at each of the following stages of production: 1) rough sketches or layout concepts; 2) finished artwork or final proofs;
    3) pre-production samples or strike-offs; and 4) finished products suitable for retail sale. Stages 1) and 2) shall be submitted
    by LICENSEE for quality control purposes directly to NHLE electronically via the NHLE Quality Control on-line system. Stages
    3) and 4) shall be submitted by LICENSEE for quality control purposes directly to NHLE via courier or first class mail at
    its address specified first above. No submissions will be accepted outside of these procedures unless otherwise specified
    in accordance with written instructions given by NHLE. The quality and style of each such Licensed Product and its Related
    Materials shall be subject to NHLE’s prior approval. In the event that any item submitted to NHLE shall not have been
    approved, disapproved or otherwise commented upon within twenty (20) business days after proper receipt thereof by NHLE, then
    LICENSEE shall have the right to so notify NHLE of such fact by telefax message, together with an email message to LICENSEE’s
    primary Consumer Products Licensing contact with NHLE. In the event that NHLE fails to then approve, disapprove or otherwise
    comment upon the submitted items within ten (10) business days after receipt by it of such communications, any items so submitted
    by LICENSEE shall be deemed to have been approved. LICENSEE shall, in addition, thereafter furnish to NHLE free of cost for
    its prior written approval six (6) production samples of each such Licensed Product, together with their Related Materials,
    within fifteen (15) days of the start of each License Year that this License Agreement is in effect.

 

    	 	7	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	(b)	Subject
    to the terms and conditions hereof, LICENSEE may utilize the NHL Marks for such selling, advertising, promotional and display
    materials for the Licensed Product(s) as in its judgment will best promote the sale of said Licensed Product(s). LICENSEE
    agrees that it will not use the NHL Marks or any reproduction thereof in any advertising, promotional or display material,
    including in connection with the website(s) (if any) approved by NHLE in accordance with paragraph 3(x) (collectively, the
    “Promotional Materials”), or in any other manner without NHLE’s prior written approval. In the event
    that any advertising, promotional or display material submitted to NHLE shall not have been approved, disapproved or otherwise
    commented upon within twenty (20) business days after receipt thereof by NHLE, then LICENSEE shall have the right to so notify
    NHLE of such fact by telefax message, together with an email message to LICENSEE’s primary Consumer Products Licensing
    contact with NHLE. In the event that NHLE fails to then approve, disapprove or otherwise comment upon the submitted items
    within ten (10) business days after receipt by it of such telefax and email communications, any items so submitted shall be
    deemed to have been approved. Prior to use by LICENSEE, six (6) production copies of all such advertising, promotional and
    display materials will be furnished to NHLE free of charge.
	 	 	 
	 	(c)	After
    samples of each Licensed Product(s), any Related Materials and any Promotional Materials have been approved pursuant to this
    paragraph, LICENSEE shall not depart therefrom in any material respect without NHLE’s prior written consent.
	 	 	 
	 	(d)	NHLE
    shall have the right to withdraw its approval, generally or with respect to any particular jurisdiction(s) or piece(s) of
    NHL Indicia, of approved samples of Licensed Products, any Related Materials and any Promotional Materials if the quality
    of any such item ceases to be acceptable, due to potential adverse ownership of conflicting intellectual property rights or
    in the event of some factor which reflects unfavorably upon the professional, business or personal reputation of the NHL,
    its Member Teams or NHLE.

	 	 	 	 
	 	8.	PROMOTIONAL
    SUPPORT OF NHL TEAMS AND DISTRIBUTION OF LICENSED PRODUCTS.

 

	 	(a)	LICENSEE
    undertakes to support the National Hockey League and its Member Teams by supplying to NHLE free of charge samples of Licensed
    Products to a total value at LICENSEE’s lowest wholesale price of [*] for each License Year. Such free samples will
    be distributed by NHLE to the NHL and/or the Member Teams directly or used by NHLE in its discretion for promotions directly
    benefiting the Member Teams. In addition to supplying such samples of Licensed
    Products free of charge, LICENSEE also undertakes to supply NHLE at NHLE’s expense samples of Licensed Products at LICENSEE’s
    cost in such quantities as requested by NHLE for the Member Teams or for promotions authorized by NHLE.
	 	 	 
	 	(b)	LICENSEE
    undertakes to sell Licensed Products to the NHL Stores (as defined below): i) at the lowest minimum quantities; ii) at the
    lowest prices charged by LICENSEE to any purchaser of Licensed Products; and iii) at the most advantageous credit terms and
    return privileges offered by LICENSEE to any purchaser of Licensed Products. LICENSEE also agrees to deliver new styles or
    designs of Licensed Products to the NHL Stores on a prompt and timely basis, and in no event later than to other outlets,
    provided orders have been placed with LICENSEE for said new styles or designs by said NHL Stores on as timely a basis as those
    orders placed by other outlets. “NHL Stores” shall mean retail outlets owned by,
    and/or operated by or under license from any Member Team or NHLE or any affiliate(s) thereof (including without limitation
    “brick-and-mortar” and other traditional outlets, the NHL and Member Team online stores, and any other outlets
    distributing Licensed Products through the internet, wireless networks, television and any other interactive media).

 

    	 	8	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	(c)	LICENSEE
    undertakes to sell, distribute, and supply, within the Territory, the Licensed Products in such manner as may be required
    to meet the competition by manufacturers of similar articles. LICENSEE further undertakes to make and maintain adequate arrangements
    for the broadest possible distribution of Licensed Products throughout the Territory through all regular channels of distribution
    consistent with Licensed Sales, including but not limited to: companies selling through mail order catalogs; companies consisting
    of or operating groups of stores or department stores commonly known as “chains;” independently run stores; and
    wholesale Distributors selling to retail outlets. LICENSEE will use its best efforts to place Licensed Products in at least
    one first class retail outlet in the marketing area of each Member Team within the Territory (without limitation to paragraph
    8(d) below), and to sell to each catalog merchant and “chain” buying the Licensed Product(s) merchandise bearing
    the NHL Marks of each Member Team operating within the geographic area served by said catalog merchant or “chain”.
    LICENSEE agrees to maintain adequate inventories of the Licensed Products as an essential part of its distribution program.
    LICENSEE will not sell Licensed Products to any retail outlet within any area to the exclusion of other retail outlets that
    may desire to purchase Licensed Products and whose credit rating and sales merchandising policies warrant such sales. In the
    event LICENSEE sells or distributes other merchandise of the same grade and quality as the Licensed Products, but which do
    not bear any of the Licensed Marks, LICENSEE will not discriminate in the granting of commissions and discounts to salespeople,
    dealers and Distributors for the Licensed Products. LICENSEE acknowledges and agrees that the foregoing provisions of this
    paragraph 8 are material provisions of this License Agreement.
	 	 	 
	 	(d)	Notwithstanding
    anything to the contrary in this License Agreement, LICENSEE agrees to sell, and NHLE authorizes the sale of, Licensed Products
    to NHL Stores outside of the Territory that request to purchase Licensed Products. Such sales (“Additional NHL Store
    Sales”) shall be considered Licensed Sales for purposes of this License Agreement, and all terms and conditions
    of this License Agreement shall apply to such Additional NHL Store Sales, mutatis mutandis; provided that, for the
    avoidance of doubt, any provision that prohibits sales of Licensed Products outside of the Territory shall not apply to Additional
    NHL Store Sales, solely to the extent of such prohibition; and provided further that LICENSEE shall immediately cease making
    Additional NHL Store Sales if so directed by NHLE at any time. In the event of any discrepancy between the parties regarding
    the interpretation of this License Agreement with respect to Additional NHL Store Sales that cannot be resolved by the parties
    acting reasonably, the parties shall negotiate mutually-agreeable alternative terms and conditions applicable solely to the
    provision with respect to Additional NHL Store Sales that the parties cannot resolve acting reasonably.

 

To
calculate Net Sales for any Additional NHL Store Sales made in a currency other than U.S. dollars, the amount of such Additional
NHL Store Sales shall be converted to U.S. dollars at the exchange rate published in the Wall Street Journal on the last day of
the month in which such Additional NHL Store Sales occur. No deductions shall be made from Net Sales for currency conversion into
U.S. dollars or otherwise (including charges for transferring funds or royalties) or for duties, freight, insurance or other taxes
or amounts or any other allowances.

 

The
rights granted by NHLE pursuant to this paragraph 8(d) are on behalf of, and shall enure to the benefit of, NHL Enterprises Canada,
L.P. (“NHLEC”) (with respect to Canada) and/or NHL Enterprises B.V. (“NHLEBV”) (with respect
to the rest of the world outside the United States and Canada). NHLEC and/or NHLEBV shall be entitled to exercise, outside of
the Territory, any and all rights and remedies of NHLE arising hereunder. NHLEC and NHLEBV are express third party beneficiaries
of this License Agreement.

 

	 	9.	GOODWILL.

 

LICENSEE
recognizes the great value of the reputation and goodwill associated with the NHL Marks and other NHL Indicia and, in such connection,
acknowledges that such goodwill exclusively belongs to the NHL and its Member Teams, that LICENSEE’s use of the NHL Marks
and other NHL Indicia will inure to the benefit of the NHL and its Member Teams, and that the NHL Marks and other NHL Indicia
have acquired a secondary meaning in the mind of the purchasing public related to the NHL and its Member Teams. LICENSEE further
recognizes and acknowledges that a breach by LICENSEE of any of its covenants, agreements or undertakings hereunder will cause
immediate irreparable damage which cannot be readily remedied in damages in an action at law, and which, in addition thereto,
constitutes an infringement of rights in the NHL Marks and other NHL Indicia, thereby entitling NHLE, the NHL and its Member Teams
to equitable remedies, costs and damages, including reasonable attorneys’ fees.

 

    	 	9	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	10.	INDEMNIFICATIONS.

 

	 	(a)	LICENSEE
    hereby agrees to defend, indemnify, release, and hold harmless NHLE, NHLEC, NHLEBV, NHL Interactive CyberEnterprises, LLC,
    the NHL, its Member Teams and each of their respective partnerships, partners, principals, officers, directors, governors,
    owners, other officials, employees, affiliates and other related entities, servants, agents, representatives, successors and
    assigns (collectively, the “Indemnified Parties”) from any loss, liability, damage, cost, expense (including
    reasonable attorneys’ fees), claims or suits (each, a “Claim” and collectively, the “Claims”)
    arising out of or relating to (i) any act or omission of LICENSEE, (ii) any breach of any obligation, covenant, representation
    or warranty undertaken or made by LICENSEE in this License Agreement or (iii) the manufacture, distribution, advertising,
    promotion, offering for sale and sale of the Licensed Products, including without limitation any Claim against any of the
    Indemnified Parties by reason of or alleging any unauthorized or infringing use by LICENSEE of any patent, process, trade
    secret, copyright, trademark, or publicity right or other property (other than the NHL Marks covered by this License Agreement)
    or any alleged defects (design, manufacturing, handling or other) or inherent dangers in the Licensed Products or the use
    thereof. LICENSEE agrees to obtain and maintain at its own expense through and until all applicable statutes of limitations
    have expired insurance coverage written on an occurrence basis and providing protection for each of the Indemnified Parties
    and LICENSEE against the Claims, as follows (the “Required Insurance Coverage”): (1) commercial general
    liability, including bodily injury and property damage, contractual liability, personal injury and advertising liability,
    and including a waiver of subrogation with respect to the Indemnified Parties, in amounts no less than $[*] per occurrence/$[*]
    aggregate, (2) product liability, including bodily injury and property damage, in amounts no less than $[*] per occurrence/$[*]
    aggregate, (3) automobile liability, in amounts no less than $[*] Combined Single Limit, Bodily Injury and Property Damage
    and (4) workers’ compensation, in compliance with the laws of the state or province where the services and/or products
    are to be provided, covering employees, volunteers, temporary workers and leased workers and including Employers’ Liability
    with minimum limits of $[*] Each Accident; $[*] Disease - Each Employee; $[*] Disease - Policy Limit. Upon execution of this
    License Agreement, LICENSEE shall submit to NHLE a fully paid policy or certificate of insurance from a New York admitted
    carrier with a Best’s rating of no less than AXI evidencing the Required Insurance Coverage. LICENSEE shall name each
    of the Indemnified Parties as additional insured parties with respect to all of the Required Insurance Coverage except workers’
    compensation. The additional insured coverage must extend to include products liability coverage and such Claims otherwise
    arising out of this License Agreement, no matter when such Claims may be asserted. All liability policies shall provide cross
    liability coverage (separation of insureds and severability of interest provisions) and shall not include any exclusion for
    suits brought by the additional insureds against the Named Insured. General conditions applying to all policies are (x) no
    policy shall include a self-insured retention (y) no policy shall include a deductible in excess of $[*] and (z) Licensee
    shall remain solely liable for the satisfaction of any deductibles. The insurer shall not terminate or materially modify such
    policies without written notice to NHLE at least thirty (30) days in advance thereof. If the insurer does so, NHLE will have
    the option to pay the premiums necessary to maintain or continue such insurance in effect, in which case NHLE shall be entitled
    to reimbursement from LICENSEE for the cost of such premiums. THE REQUIRED INSURANCE COVERAGE SHALL BE PRIMARY TO ALL
    OTHER VALID AND COLLECTIBLE INSURANCE HELD BY THE ADDITIONAL INSURED PARTIES.
    THE PARTIES AGREE THAT THE PRIMARY INSURANCE REQUIREMENT DESCRIBED IN THE PRECEDING SENTENCE IS A MATERIAL TERM AND
    CONDITION OF THIS LICENSE AGREEMENT. LICENSEE acknowledges and agrees that LICENSEE’s acquisition of the
    Required Insurance Coverage shall not satisfy or limit LICENSEE’s indemnity obligations hereunder. LICENSEE shall provide
    NHLE with renewal policies or certificates of insurance in accordance with the terms hereof on an annual basis, covering all
    periods through and until all applicable statutes of limitations have expired. If any of the Required Insurance Coverage is
    written on a claims-made basis, LICENSEE shall maintain such coverage in effect for a period of three years after termination
    of the Agreement or until expiration of the applicable statute of limitations, whichever is later and shall continue to provide
    evidence of such coverage to NHLE on annual basis during this time period.
	 	 	 
	 	(b)	NHLE
    shall have the option and right, at NHLE’s election and at the indemnifying party’s cost and expense, to assume
    and control the defense of such Claim(s). Each party shall cooperate with the other party in the defense of such Claim(s).
    The indemnifying party shall reimburse the indemnified party (or parties) for all reasonable out-of-pocket costs incurred
    by the indemnified party (or parties) in connection with such cooperation. In any instance in which the indemnities set forth
    in paragraph 10(a) pertain, LICENSEE shall not enter into a settlement of any or all of the Claims or admit liability or fault
    without NHLE’s prior written approval. Termination or expiration of this License Agreement shall not affect the continuing
    obligations of LICENSEE as an indemnifying party hereunder.

 

    	 	10	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	11.	TERMINATION.

 

	 	(a)	NHLE
    shall have the right to terminate this License Agreement without prejudice to any rights which it may have in the premises,
    whether in law, or in equity, or otherwise, upon the occurrence of any one or more of the following events (herein called
    “defaults”):
	 	 	 	 
	 	(i)	 	If
    any governmental agency finds that the Licensed Product(s) are defective in any way,
    manner or form;
	 	 	 	 
	 	(ii)	 	If
    LICENSEE distributes, sells or offers to sell any Licensed Products not made in complete conformity to the provisions of paragraph
    7 of this License Agreement, or distributes, sells or offers to sell any merchandise bearing a copy or simulation of any NHL
    Mark or other NHL Indicia other than the Products;
	 	 	 	 
	 	(iii)	 	If
    LICENSEE shall be unable to pay its debts when due, or shall make any assignment for the benefit of creditors, or shall file
    any petition, or shall have filed against it any involuntary petition (which petition is not vigorously contested by LICENSEE
    and dismissed within sixty (60) days after the filing thereof), under the bankruptcy or insolvency laws of any nation, jurisdiction,
    county or place, or shall have or suffer a receiver or trustee to be appointed for its business or property, or be adjudicated
    a bankrupt or an insolvent;
	 	 	 	 
	 	(iv)	 	In
    the event that LICENSEE does not commence in good faith to manufacture, distribute and sell each Licensed Product throughout
    the Territory within sixty (60) days of the commencement of the Term hereof and fails to maintain an inventory of Licensed
    Products sufficient to supply the market demand therefor; or
	 	 	 	 
	 	(v)	 	If
    there is a change in more than fifty percent (50%) ownership or controlling interest of LICENSEE or a material change in management
    of LICENSEE.
	 	 	 	 
	 	(b)	In the event LICENSEE violates, breaches or defaults in performing any of the provisions of this License Agreement other than those identified in paragraph 11(a) above or any provisions of any other agreement between LICENSEE and NHLE, the NHL or any of their affiliates, or any manufacturer violates, breaches or defaults in performing any of the provisions of the relevant Manufacturer’s Agreement, and LICENSEE or such manufacturer, as applicable, does not fully cure such violation, breach or default within ten (10) days notice from NHLE, this License Agreement shall automatically terminate, and LICENSEE shall pay NHLE within thirty (30) days without further demand all amounts then due NHLE and also shall pay therewith as liquidated damages all amounts still due NHLE as Guaranteed Minimum Payment for the remainder of the Term. If such payments are not remitted when due, LICENSEE consents to the entry of judgment for such amount by a court having jurisdiction over LICENSEE or any of its assets. In addition, NHLE shall be entitled to sue for injunctive relief and other consequential damages, including reasonable attorneys’ fees incurred by NHLE, the NHL and/or its Member Teams as a result of any such violation, breach or default by LICENSEE or a manufacturer.

                                                                                 

    	 	11	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	(c)	It
    is agreed and recognized that the nature of the business of NHLE, the NHL and its Member Teams requires great public respect
    for and trust in the reputation and integrity of the NHL and its Member Teams. Accordingly, it is agreed that in the event
    of some unanticipated factor, development or event which, in NHLE’s reasonable opinion, causes continued association
    of the NHL and/or its Member Teams with LICENSEE or the Licensed Products to have a materially adverse reflection upon the
    NHL or its Member Teams, NHLE may terminate this License Agreement unilaterally by written notice to LICENSEE. In the event
    of such termination, LICENSEE shall be excused from all further (but not past due or subsequently earned) royalty obligations;
    the pro-rated amount of any minimum guarantee paid in advance will be refunded to LICENSEE; and NHLE will, in the event it
    cannot approve distribution of the remainder of LICENSEE’s inventory and work in process, reimburse LICENSEE for its
    expenses of salvage or, for unsalvageable products, for LICENSEE’s cost of manufacturing or acquiring the same. It is
    further agreed that if NHLE should determine, within its sole discretion, that LICENSEE, or any sub-contractor or sub-manufacturer
    of LICENSEE involved in the production, manufacture or marketing of the Licensed Product(s), have violated any labor laws
    or standards applicable to their business, including, but not limited to, child labor practices, then the NHLE may terminate
    this License Agreement immediately upon written notice to LICENSEE.
	 	 	 
	 	(d)	In
    the event of termination of this License Agreement, LICENSEE will refrain from further use of the NHL Marks and other NHL
    Indicia (or any further reference to all or each of them, direct or indirect, or any simulation of the NHL Marks or other
    NHL Indicia). LICENSEE agrees that the NHL Marks and other NHL Indicia possess a special, unique and extraordinary character
    which makes difficult the assessment of the monetary damage sustained by unauthorized use. LICENSEE recognizes that irreparable
    injury would be caused by unauthorized use and agrees that injunctive and other equitable relief would be appropriate in the
    event of a breach of this License Agreement, provided, however, that such remedy shall not be exclusive of other legal remedies
    otherwise available to NHLE, the NHL and/or its Member Teams.

 

	 	12.	FINAL
    STATEMENT.

 

LICENSEE
shall deliver to NHLE a written statement indicating the number and description of Licensed Products on hand as of June 30, 2022
(the “Inventory Report”). LICENSEE may manufacture no more products bearing NHL marks after June 30, 2022 but
shall be permitted to distribute and sell-off the remaining inventory of Licensed Products listed in the Inventory Report for
a period not to exceed sixty (60) days following June 30, 2022, subject to the full and ongoing reporting and payment of applicable
royalties thereto with respect to such distribution and sales of Licensed Products. For the avoidance of doubt, LICENSEE shall
immediately discontinue and cease all distribution and sell-off of Licensed Products as of August 31, 2022. In connection with
the foregoing, LICENSEE shall use best efforts to manage the manufacture of Licensed Products and associated inventory levels
during the Term of the proposed licensing agreement so as not to exceed reasonable anticipated sale and supply demand for such
Licensed Products based on all reasonable factors including, without limitation, historical sales performance, anticipated demand
as factored against the then-remaining duration of the Term, retail and other relevant market factors, and LICENSEE’s experience
and business judgment, to coincide with the expiration of the Term on June 30, 2022.

 

At
the end of this sixty (60) day period, or if this License Agreement is otherwise terminated pursuant to any provisions of this
License Agreement, LICENSEE shall immediately discontinue and cease, as applicable, all manufacture, distribution, marketing,
promotion, advertising and sale of Licensed Product(s) and following expiration or termination of this License Agreement for whatever
reason, LICENSEE agrees to make no further use of the NHL Marks and/or other NHL Indicia whatsoever, either in or on any products
or in any advertising, publicity, promotional or display materials unless otherwise authorized in writing by NHLE. LICENSEE shall
deliver, as soon as practicable but no more than thirty (30) days later, to NHLE, a final statement indicating the number and
description of Licensed Product(s) remaining in its custody and control (the “Remaining Inventory”). LICENSEE
shall comply with all instructions provided by NHLE regarding the disposition of the Remaining Inventory, which LICENSEE acknowledges
and agrees may include, without limitation, a requirement that LICENSEE, at its own expense and without liability to NHLE, (a)
destroy (and provide NHLE, a certificate, verified before a notary public or similar authority, attesting to such destruction)
all or any portion of the Remaining Inventory, and/or (b) surrender custody of the Remaining Inventory to NHLE or a designee of
NHLE (e.g., a charitable distributor to third world countries). NHLE shall have the right to conduct a physical inventory
in order to ascertain or verify the Remaining Inventory. In the event LICENSEE refuses to permit NHLE to conduct such physical
inventory, NHLE shall have recourse to any and all legal remedies available to it. For the avoidance of doubt, in the event that
NHLE terminates this License Agreement pursuant to any of the provisions of this License Agreement, LICENSEE shall have no right
to dispose of its inventory beyond the effective date of such termination and shall be subject to the payment of damages specified
herein. LICENSEE acknowledges and agrees, without limiting any other provision hereof, that full undertaking and compliance with
the foregoing is a material obligation in connection with the license granted in this License Agreement and NHLE reserves all
legal and equitable rights with respect therewith.

 

    	 	12	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	13.	NOTICES.

 

All
notices which either party hereto is required or may desire to give to the other shall be given by addressing the same to the
other at the address above written, or at such other address as may be designated in writing by any such party in a notice to
the other given in the manner prescribed in this paragraph. Each such notice shall be sufficiently given after such notice is
deposited so addressed, postage prepaid, in the United States or Canadian mail. The date of actual receipt of such mail shall
be the date of the giving of such notice. LICENSEE shall also deliver a confirmatory copy of any notice to NHLE by email to NHLE’s
Chief Branding Officer ([*]) and Deputy General Counsel ([*]).

 

	 	14.	NO
    PARTNERSHIP OR JOINT VENTURE ETC.

 

This
License Agreement does not constitute and shall not be construed as constituting a partnership, joint venture or agency between
LICENSEE and either the NHLE, the NHL and/or its Member Teams. Neither party shall have any right to obligate or bind the other
party in any manner whatsoever, and nothing herein contained shall give, or is intended to give, any rights of any kind to any
third persons.

 

	 	15.	CONSTRUCTION.

 

This
License Agreement shall be construed in accordance with the laws of the State of New York of the United States of America without
reference to the conflicts of law provisions thereof.

 

	 	16.	WAIVER,
    MODIFICATION, ETC.

 

This
License Agreement represents the entire agreement and understanding of the parties hereto with respect to the subject matter hereof
and supersedes all previous representations, understandings or agreements between the parties hereto. No waiver, modification
or cancellation of any term or condition of this License Agreement shall be effective unless executed in writing by the party
charged therewith. No written waiver shall excuse the performance of any act other than those specifically referred to therein.
NHLE makes no warranties to the LICENSEE except those specifically expressed on the first page hereof.

 

	 	17.	NO
    ENDORSEMENT BY PLAYERS, ETC.

 

This
License Agreement does not carry with it any right to use the name, likeness, reputation, goodwill, persona, or any other aspect
of the right of privacy, personality or publicity of any individual or group, including any individual, or group of, current or
former NHL player(s). LICENSEE understands and agrees that it is LICENSEE’s responsibility to secure whatever rights may
be required for the use of any such name, likeness, reputation, goodwill, persona or other aspect in connection with the Licensed
Products. LICENSEE further understands and agrees that neither the execution hereof nor any grant of approval hereunder nor any
other act or omission by NHLE shall operate or be construed as a grant by NHLE of any such rights or as approval by NHLE of the
use of any such name, likeness, reputation, goodwill, persona or other aspect in connection with the Licensed Products in the
event LICENSEE shall not have secured such rights. LICENSEE shall not exercise the rights granted hereunder in any manner that
will constitute an endorsement of a Licensed Product by any current or former NHL player(s) without the specific consent of such
player(s).

 

	 	18.	ARBITRATION.

 

	 	(a)	Any
    dispute or disagreement between the parties hereto shall be determined in any forum of NHLE’s choosing, and LICENSEE
    hereby consents to venue and personal jurisdiction in any New York State court sitting in New York City and the United States
    District Court for the Southern District of New York. In any such action, the forum may retain jurisdiction to award damages,
    profits, attorneys’ fees or costs, as allowed by law in such matters.
	 	 	 
	 	(b)	Without
    limiting the provisions of clause (a) above, NHLE may elect to have any dispute or disagreement between the parties hereto
    arising out of or relating to this License Agreement settled by binding arbitration in New York City under the rules then
    in effect of the American Arbitration Association, and judgment upon the award may be entered in the courts of the State of
    New York and any other court having jurisdiction.

 

    	 	13	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

	 	19.	SEVERABILITY.

 

If
any provision of this License Agreement is held by a court of competent jurisdiction to be contrary to law, the remaining provisions
of the License Agreement shall be considered to be severable and shall remain in full force and
effect.

 

	 	20.	ACCEPTANCE
    BY NHLE.

 

This
instrument, when signed by LICENSEE, shall be deemed an application for a license and not a binding agreement unless and until
accepted by NHLE by signature of a duly authorized officer and the delivery of such a signed copy to LICENSEE. The receipt and/or
deposit by NHLE of any check or other consideration given by LICENSEE and/or the delivery of any material by NHLE to LICENSEE
shall not be deemed an acceptance by the NHL of this application. The foregoing shall apply to any documents relating to renewals
or modifications hereof.

 

	 	21.	COUNTERPARTS.

 

This
License Agreement may be executed simultaneously in several counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. Delivery of an executed counterpart signature page by facsimile and/or
pdf signatures is as effective as executing and delivering this License Agreement in the presence of the other parties to this
License Agreement. This License Agreement is effective upon delivery of one executed counterpart from each party to the other
parties.

 

IN
WITNESS WHEREOF, the parties hereto have signed this License Agreement as of the day and year first above written.

 

	NHL
    ENTERPRISES, L.P.	LICENSEE:
    BIG LEAGUE FOODS, INC., A DIVISION OF VERUS FOODS

 

	By:	NHL
    Enterprises, Inc., its general partner	 	 
	 	 	 	 	 
	By:
	 
	 	By:
	

	 	 	 	 	 
	Name:	[*]	 	Name:	James
    R. Wheeler
	 	 	 	 	 
	Title:	EVP/Chief
    Branding Officer	 	Title:	President,
    Big League Foods, Inc.
	 	 	 	 	 
	Date:	August
    20, 2020	 	Date:	August
    19, 2020

 

    	 	14	 

     

    

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be
competitively harmful if publicly disclosed.

 

Exhibit
A

 

Form
of Manufacturer’s Agreement

U.S.
License; (see Para 3(i))

 

                                                      ________________,
20____

 

NHL
ENTERPRISES, L.P.

1185
Avenue of the Americas

New York, New York 10036

 

Dear
Sirs or Madams:

 

Please
be advised that we have been engaged by Big League Foods, Inc., a Division of Verus Foods (“LICENSEE”), which
has entered into Retail License Agreement No. [*] with you (the “Retail License Agreement”), as the manufacturer
in connection with the manufacture of the Licensed Product(s) (as defined in the Retail License Agreement). We
hereby acknowledge that we have received a copy of and are cognizant of the terms and conditions set forth in the Retail
License Agreement and hereby agree to observe and be bound by those provisions of the Retail License Agreement which are applicable
to our function as manufacturer of the Licensed Product(s).

 

We
agree that we shall have no right to manufacture, sell or utilize Licensed Product(s) bearing the NHL Marks (as defined in the
Retail License Agreement) except as manufacturer for LICENSEE and subject to the terms and conditions of the Retail License Agreement,
and further agree not to utilize any of the Licensed Product(s) or NHL Marks to advertise, promote or publicize ourselves or such
manufacture in any manner or form.

 

We
understand that our engagement as the manufacturer
for LICENSEE subject to the terms and conditions of the Retail License Agreement is subject to your written approval. We
request, therefore, that you sign in the space provided below, thereby showing
your acceptance of our engagement as aforesaid.

 

	 	Very
    truly yours,
	 	 
	 	 
	 	[Manufacturer]

 

	 		 	By: 	 
	 	 	 	 
		 	Name: 	 
	Accepted and Agreed: 	 	 	 
	NHL ENTERPRISES, L.P. 	 	Title: 	 
	 	 	 	 	 
	By:	NHL
Enterprises, Inc.,	 	 	 
	 	its general partner	 	Address: 	 
	 	 	 	 	 
	By:		 	Phone:
    	 
	 	 	 	 	 
	Name: 	[*]	 	Date: 	 
	 	 	 	 	 
	Title:	EVP/Chief
    Branding Officer	 	 	 
	 	 	 	 	 
	Date:	 	 	 	 

 

We
hereby confirm and agree that, notwithstanding
the foregoing, we shall remain primarily liable to NHL Enterprises, L.P. for all obligations of licensee under the Retail License
Agreement, and shall not be relieved of any of such obligations, including obligations relating to quality control, the manufacture
of the Licensed Product(s) and indemnification of NHL Enterprises, L.P. and certain other persons and entities identified in the
Retail License Agreement.

 

	LICENSEE:	BIG
    LEAGUE FOODS, INC., A DIVISION OF VERUS FOODS
	 	 	 
	By:		 
	 	 	 
	Name:
    	 	 
	 	 	 
	Title:		 
	 	 	 
	Date:

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