Document:

Exhibit 10.51

 

PROMISSORY
NOTE

 

Principal
Amount: US$_____

Dated:
________

 

FOR
VALUE RECEIVED, Alberton Acquisition Corporation (the “Maker” or the “Company”) promises
to pay to the order of SolarMax Technology, Inc., a Nevada corporation (the “Payee”), the principal sum of
____ US$_____), on the terms and conditions described below. All payments on this Note shall be made by wire transfer of immediately
available funds to such account as the Payee may from time to time designate by written notice in accordance with the provisions
of this note (the “Note”).

 

 1. Payment of Principal. The principal balance of this Note shall be payable by the Maker to the Payee upon the first to occur of (i) the date on which the Maker consummates a merger or other business combination with the Payee, or (ii) the date on which, pursuant to the Maker’s Articles of Association, the Maker must complete a Business Combination, which date is presently October 26, 2020, or (iii) the date on which either (x) the Letter of Intent dated September 3, 2020 by and between the Maker and the Payee Payee (the “LOI”) or (y) the Acquisition Agreement, as defined in the LOI, shall be terminated for any reason or (iv) the date an Event of Default shall occur.

 

 2. Interest. This Note is non-interest bearing; provided, that if this Note is not paid in full on the Maturity Date, this Note shall bear interest at the annual rate equal to ten percent (10%) per annum from the Maturity Date due until the day on which all sums due are received by the Payee.

 

 3. Events of Default. The following shall constitute an event of default (each, an “Event of Default”):

 

(a) Failure
by the Maker to pay the principal amount due of the Maturity Date.

 

(b) If
the Maker or any affiliate of the Maker shall engage in negotiations with respect to or enter into any agreement, memorandum of
understanding, letter or intent with respect to any kind business combination with any person

 

(c) The
Maker shall make an assignment for the benefit of creditors or commence proceedings for its dissolution, or apply for or consent
to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a receiver or
trustee shall otherwise be appointed for the Maker 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.

 

(d) Any
money judgment, writ or similar process shall be entered or filed against the Maker or any of its property or other assets for
more than $150,000, and shall remain unvacated, unbonded or unstayed for a period of twenty (20) days unless otherwise consented
to by the Payee, which consent will not be unreasonably withheld.

 

(e) Bankruptcy,
insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under any bankruptcy
law or any law for the relief of debtors shall be instituted by or against the Maker, or the Maker admits in writing its inability
to pay its debts generally as they mature.

 

(f) The
Maker shall fail to maintain the listing of its common stock and warrants on the Nasdaq Capital Market

 

(g) The
Maker fails to perform or comply with any one or more of its obligations under this Note.

 

(h) Any
present or future indebtedness of the Maker in respect of moneys borrowed or raised becomes (or becomes capable of being declared)
due and payable prior to its stated maturity by reason of any event of default, or any such indebtedness is not paid when due
or, as the case may be, within any applicable grace period.

 

    	 	Page 1 of 4	 

     

    

 

(i) A
distress, attachment, execution or other legal process is levied or enforced on or against any assets of the Maker which is not
discharged or stayed within 30 days.

 

(j) It
is or becomes unlawful for the Maker to perform any of its obligations under this Note, or any obligations of the Maker under
this Note are not or cease to be legal, valid, binding or enforceable.

 

 4. Effect of Event of Default. Upon the occurrence of an Event of Default, the principal amount of this Note shall automatically become due and payable. The Payee shall be entitled to exercise any rights available to the Payee under applicable law. In the event that the Payee incurs expenses to enforce its rights under this Note, the Maker shall promptly pay all expenses reasonably incurred by the Payee in evaluating and enforcing its rights, including reasonable legal fees and expenses, regardless of whether any legal action is commenced.

 

 5. Taxes. The Maker will pay all amounts due hereunder free and clear of and without reduction for any taxes, levies, imposts, deductions, withholding or charges imposed or levied by any governmental authority or any political subdivision or taxing authority thereof with respect thereto (“Taxes”). The Maker will pay on behalf of the Payee all such Taxes so imposed or levied and any additional amounts as may be necessary so that the net payment of principal and any interest on this Note received by the Payee after payment of all such Taxes shall be not less than the full amount provided hereunder.

 

 6. Unconditional Liability. The Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by the Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by the Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to the Maker or affecting the Maker’s liability hereunder. For the purpose of this Note, “business day” shall mean a day (other than a Saturday, Sunday or public holiday) on which banks are open in the State of California for general banking business.

 

 7. Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable overnight courier service that provides with evidence of delivery with charges prepaid, or (iv) transmitted by hand delivery, e-mail addressed as set forth below or to such other address as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery at the address designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the date of delivery or attempted delivery by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If
to the Maker, to:

 

Alberton
Acquisition Corporation

Room
1001, 10/F, Capital Center

151
Gloucester Road

Wanchai,
Hong Kong

Attention:
Guan Wang, Chairwoman and Chief Executive Officer

Email:
13823785366@163.com

 

If
to the Payee, to:

 

 

 SolarMax
Technology, Inc.

 3080
12th Street

 Riverside,
CA 92507

 Attention:
David Hsu, Chief Executive Officer

 Email:
DavidH@solarmaxtech.com

 

    	 	Page 2 of 4	 

     

    

 

 8. Construction. This Note shall be construed and enforced in accordance with the laws of New York, without regard to conflict of law provisions thereof.

 

 9. Waiver against Trust. In making the loan to the Maker and accepting this Note, the Payee acknowledges that the proceeds from the Maker’s initial public offering are held in a trust account and the Payee is waiving any rights against the funds in the trust account as provided in Section 3 of the LOI until such time as a Business Combination is completed.

 

 10. Governing Law; Waiver of Jury Trial. This Note shall be governed by and construed in accordance with the laws of the State of California without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Note shall be brought only in the federal or state courts located in the County of Riverdale in the State of California. The Maker hereby irrevocably waives any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Maker hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in connection with this Note by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party prevails on substantially all issues in dispute, the prevailing party shall be entitled to recover from the other party its reasonable attorney's fees and costs. THE MAKER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

 11. Partial Invalidity. In the event that any provision of this Note is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.

 

 12. Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest permitted under applicable law. The Maker covenants (to the extent that it may lawfully do so) that it will not seek to claim or take advantage of any usury law that would prohibit or forgive the Maker from paying all or a portion of the principal or interest on this Note.

 

 13. Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee in the case of an amendment or by the Payee in the case of a waiver.

 

 14. Assignment. This Note shall be binding upon the Maker and its successors and assigns and is for the benefit of the Payee and its successors and assigns, except that the Maker may not assign or otherwise transfer its rights or obligations under this Note. The Payee may at any time without the consent of or notice to the Maker assign to one or more entities all or a portion of its rights under this Note.

 

    	 	Page 3 of 4	 

     

    

 

The
Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year
first above written.

 

Alberton
Acquisition Corporation

 

	By:	 	 
	Name:	Guan Wang	 
	Title:	
        Chairwoman & CEO
	 

 

 

 

Page
4 of 4Exhibit
10.1

 

Execution
Version

 

 

 

 

 

 

 

 

 

 

 

SECURITIES
PURCHASE AGREEMENT

 

DATED
DECEMBER 29, 2020

 

BY
AND AMONG

 

HALL
OF FAME RESORT & ENTERTAINMENT COMPANY,

 

INDUSTRIAL
REALTY GROUP, LLC,

 

AND

 

CH
CAPITAL LENDING, LLC

 

 

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	Page
	 	 
	ARTICLE
    I  DEFINITIONS	1
	Section
    1.01. Definitions	1
	ARTICLE
    II  SALE AND PURCHASE	3
	Section
    2.01. Sale and Purchase	3
	Section
    2.02. Release of Obligations	3
	ARTICLE
    III  REPRESENTATIONS AND WARRANTIES OF THE COMPANY	4
	Section
    3.01. Valid Existence	4
	Section
    3.02. Authority	4
	Section
    3.03. No Approvals	4
	Section
    3.04. No Violations	4
	Section
    3.05. Valid Issuance	4
	Section
    3.06. No Broker	4
	ARTICLE
    IV  REPRESENTATIONS AND WARRANTIES OF PURCHASER	5
	Section
    4.01. Valid Existence	5
	Section
    4.02. Authorization	5
	Section
    4.03. No Approvals	5
	Section
    4.04. No Violations	5
	Section
    4.05. No Broker	5
	Section
    4.06. Investment	6
	Section
    4.07. Nature of Purchaser	6
	Section
    4.08. Receipt of Information	6
	Section
    4.09. Restricted Securities	6
	Section
    4.10. Legend	6
	Section
    4.11. Reliance on Exemptions	6
	ARTICLE
    V  COVENANTS	7
	Section
    5.01. Purchaser Lock-Up	7
	ARTICLE
    VI  MISCELLANEOUS	7
	Section
    6.01. Captions	7
	Section
    6.02. Severability	7
	Section
    6.03. Survival	7
	Section
    6.04. Waiver and Amendment	7
	Section
    6.05. Successors and Assigns	7
	Section
    6.06. Communications	8
	Section
    6.07. Entire Agreement	9
	Section
    6.08. Governing Law	9
	Section
    6.09. Jurisdiction; Waiver Of Jury Trial	9
	Section
    6.10. Execution in Counterparts	9

 

    i

     

    

 

Exhibits
and Schedules:

 

Schedule
2.01 Securities

Exhibit A Form of Warrant

 

    ii

     

    

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated December 29, 2020 (the “Agreement
Date”), is made and entered into by and among Hall of Fame Resort & Entertainment Company, a Delaware corporation
(the “Company”), Industrial Realty Group, LLC, a Nevada limited liability company (“IRG”),
and CH Capital Lending, LLC, a Delaware limited liability company (“Purchaser”).

 

A. HOF
Village Newco, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (“Newco”),
was previously indebted to IRG for the IRG Promissory Note Obligations (as defined in Section 1.01), pursuant
to the IRG Promissory Note (as defined in Section 1.01).

 

B. IRG
assigned the IRG Promissory Note Obligations to Purchaser, which is an Affiliate (as defined in Section 1.01) of IRG.

 

C. The
Company owes the Guaranty Fee Obligation (as defined in Section 1.01) to an Affiliate of IRG.

 

D. In
order to satisfy in full the IRG Obligations (as defined in Section 1.01), the Company desires to issue and sell
to Purchaser, and Purchaser desires to purchase from the Company, shares of Common Stock (as defined in Section 1.01)
and Warrants (as defined in Section 1.01), in accordance with the provisions of this Agreement.

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company, IRG, and Purchaser hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Section
1.01. Definitions. As used in this Agreement, the following terms have the respective meanings stated below:

 

“Affiliate”
means, with respect to a specified Person, any other Person, whether now in existence or hereafter created, directly or indirectly
controlling, controlled by or under direct or indirect common control with such specified Person. For purposes of this definition,
“control” (including, with correlative meanings, “controlling,” “controlled by,”
and “under common control with”) means the power to direct or cause the direction of the management and policies
of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise.

 

“Agreement”
has the meaning given to such term in the introductory paragraph hereof.

 

    1

     

    

 

“Aquarian
Term Loan Agreement” means that certain Term Loan Agreement, dated as of December 1, 2020, by and among the Company
and the other persons signatory thereto (as borrowers), the lenders party thereto (as lenders), and Aquarian Credit Funding, LLC,
as Administrative Agent, as such Term Loan Agreement may be amended, restated, and/or supplemented from time to time.

 

“Common
Stock” means the Company’s common stock, par value $0.0001 per share.

 

“Company”
has the meaning given to such term in the introductory paragraph of this Agreement.

 

“Guaranty
Fee Obligation” means a payment obligation of $500,000 owed by the Company to an Affiliate of IRG, in consideration
for the fact that such Affiliate of IRG has provided a guaranty of up to $22.3 million of the payment obligations of the Company
under the Aquarian Term Loan Agreement.

 

“IRG”
has the meaning given to such term in the introductory paragraph of this Agreement.

 

“IRG Obligations”
means, collectively, the Guaranty Fee Obligation and the IRG Promissory Note Obligations. As of the Agreement Date, the total
amount of the IRG Obligations is $14,739,653.08.

 

“IRG Promissory
Note” means that certain Promissory Note, executed on February 7, 2020 but effective as of November 27, 2019,
as amended, between Newco (as assignee of the original borrower, HOF Village, LLC), as borrower, and IRG, as lender.

 

“IRG Promissory
Note Obligations” means the sum of the outstanding principal, accrued interest, legal fees, and other costs, expenses
and fees (including legal fees incurred in connection with the preparation and execution of the IRG Promissory Note and related
transactions) owed pursuant to the IRG Promissory Note. As of the Agreement Date, the total amount of the IRG Promissory
Note Obligations is $15,239,653.08.

 

“Law”
means any federal, state, local or foreign order, writ, injunction, judgment, settlement, award, decree, statute, law, rule or
regulation.

 

“Party”
or “Parties” means the Company, IRG, and Purchaser, individually or collectively, as the case may be.

 

“Payoff
Release” has the meaning given to such term in Section 2.02.

 

“Person”
means any individual, corporation, company, voluntary association, partnership, joint venture, trust, limited liability company,
unincorporated organization or government or any agency, instrumentality or political subdivision thereof, or any other form of
entity.

 

    2

     

    

 

“Purchaser”
have the meaning given to such term in the introductory paragraph of this Agreement.

 

“Representatives”
of any Person means the Affiliates, control persons, officers, directors, employees, agents, counsel, investment bankers and other
representatives of such Person.

 

“SEC”
means the United States Securities and Exchange Commission.

 

“SEC
Documents” means the reports, schedules and statements filed by the Company under the Securities Exchange Act of 1934,
as amended.

 

“Securities”
means the Shares and the Warrants.

 

“Securities
Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations of the SEC promulgated
thereunder.

 

“Shares”
has the meaning given to such term in Section 2.01.

 

“Warrant
Shares” means the shares of Common Stock to be issued upon exercise of the Warrants.

 

“Warrants”
means warrants to purchase shares of Common Stock at an exercise price of $1.40 per share, each Warrant exercisable for one share
of Common Stock, in substantially the form attached hereto as Exhibit A.

 

ARTICLE
II

SALE AND PURCHASE

 

Section
2.01. Sale and Purchase. Subject to the terms and conditions hereof, the Company is issuing and selling to Purchaser
on the Agreement Date, and Purchaser hereby agrees that it is purchasing from the Company on the Agreement Date, the number of
shares of Common Stock (the “Shares”), and Warrants exercisable for the number of shares of Common Stock, in
each case, set forth on Schedule 2.01 hereto. The purchase price being paid hereunder per share of Common Stock is
$1.40, and the purchase price being paid hereunder for each Warrant to purchase one share of Common Stock is $0.01. Each of the
Company, IRG and Purchaser hereby acknowledges and agrees that such purchase prices are based on the relative fair market value
of each such Security at the time of issuance, and that all tax returns filed by such Party shall be consistent in all material
respects with such allocation of the purchase prices being paid hereunder. The aggregate purchase price being paid for the Securities
pursuant to this Agreement is equal in value to the total amount of the IRG Obligations. Such aggregate purchase price will
be paid in the form of the satisfaction and cancellation in full, effective as of the Agreement Date, of all IRG Obligations.
IRG hereby acknowledges that the Securities will be issued to Purchaser, as the assignee of the IRG Promissory Note
Obligations.

 

Section
2.02. Release of Obligations. Effective immediately upon Purchaser’s receipt of the Securities in accordance
with the terms of this Agreement: (a) all payment obligations of the Company and its Affiliates under the IRG Obligations,
including obligations in respect of principal, accrued interest, costs, expenses and fees, shall in each case be deemed to be
paid in full, and the entirety of the IRG Obligations shall be irrevocably discharged, released and terminated, and neither
the Company nor any of its Affiliates will have any further liability with respect to any of the IRG Obligations (the “Payoff
Release”); (b) the Company (or its designee) is hereby authorized to file any instruments and documents and take
such other steps as is reasonably necessary to evidence in the public record the Payoff Release; and (c) each of IRG and
Purchaser agrees, upon the request of the Company, to execute and deliver (or to cause any of their respective Affiliates to execute
and deliver) to the Company such additional documentation as is reasonably necessary to evidence the Payoff Release and the satisfaction
in full of the IRG Obligations.

 

    3

     

    

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The
Company represents and warrants to IRG and Purchaser that the representations and warranties set forth in this Article III
are true and correct as of the Agreement Date.

 

Section
3.01. Valid Existence. The Company has been duly incorporated and is validly existing and in good standing under the
laws of the State of Delaware.

 

Section
3.02. Authority. The execution, delivery and performance by the Company of this Agreement, and the consummation of
the transactions contemplated hereby, are within the powers of the Company, and have been or will have been duly authorized by
all necessary action on the part of the Company. This Agreement constitutes a valid and binding agreement of the Company, enforceable
in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and
other laws of general application affecting enforcement or creditors’ rights generally or (b) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies.

 

Section
3.03. No Approvals. The execution, delivery and performance by the Company of this Agreement and the consummation
of the transactions contemplated hereby require no order, license, consent, authorization or approval of, or exemption by, or
action by or in respect of, or notice to, or filing or registration with, any third Person or any governmental body or agency.

 

Section
3.04. No Violations. The execution, delivery and performance by the Company of this Agreement, and the consummation
of the transactions contemplated by this Agreement, do not and will not (a) violate the certificate of incorporation or bylaws
of the Company, (b) violate any agreement to which the Company is a party or by which the Company or any of its property
or assets is bound or (c) violate any law, rule, regulation, judgment, injunction, order or decree applicable to the Company.

 

Section
3.05. Valid Issuance. The Shares, when issued in accordance with this Agreement, will be duly and validly authorized
and issued, fully-paid and non-assessable. The Warrant Shares, when issued pursuant to the terms of the Warrants upon exercise
thereof, will be duly and validly authorized and issued, fully-paid and non-assessable.

 

Section
3.06. No Broker. There is no investment banker, broker, finder or other intermediary that has been retained by, will
be retained by or is authorized to act on behalf of the Company, and who might be entitled to any fee or commission upon consummation
of the transactions contemplated by this Agreement.

 

    4

     

    

 

ARTICLE
IV

REPRESENTATIONS AND WARRANTIES OF IRG AND PURCHASER

 

IRG
and Purchaser represent and warrant to the Company as follows:

 

Section
4.01. Valid Existence. Each of IRG and Purchaser has been duly formed and is validly existing and in good standing
under the laws of the state or other jurisdiction of its organization.

 

Section
4.02. Authorization. The execution, delivery and performance by each of IRG and Purchaser of this Agreement, and the
consummation of the transactions contemplated hereby are within the powers of each of IRG and Purchaser, and have been or will
have been duly authorized by all necessary action on the part of IRG and Purchaser, respectively. This Agreement constitutes a
valid and binding agreement of each of IRG and Purchaser, enforceable in accordance with its terms, except (a) as limited
by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement
or creditors’ rights generally or (b) as limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies.

 

Section
4.03. No Approvals. The execution, delivery and performance by each of IRG and Purchaser of this Agreement and the
consummation of the transactions contemplated hereby require no order, license, consent, authorization or approval of, or exemption
by, or action by or in respect of, or notice to, or filing or registration with, any third Person or any governmental body or
agency.

 

Section
4.04. No Violations. The execution, delivery and performance by each of IRG and Purchaser of this Agreement, and the
consummation of the transactions contemplated by this Agreement, do not and will not (a) violate IRG’s articles of
organization, Purchaser’s certificate of formation, IRG’s operating agreement, or Purchaser’s operating agreement,
(b) violate any agreement to which either IRG or Purchaser is a party or by which IRG or Purchaser, or any of their respective
properties or assets, is bound or (c) violate any law, rule, regulation, judgment, injunction, order or decree applicable
to either IRG or Purchaser.

 

Section
4.05. No Broker. There is no investment banker, broker, finder or other intermediary that has been retained by, will
be retained by or is authorized to act on behalf of either IRG or Purchaser, and who might be entitled to any fee or commission
upon consummation of the transactions contemplated by this Agreement.

 

    5

     

    

 

Section
4.06. Investment. The Securities are being acquired for Purchaser’s own account, or the accounts of clients
for whom Purchaser exercises discretionary investment authority, not as a nominee or agent, and with no present intention of distributing
the Securities or any part thereof, and Purchaser has no present intention of selling or granting any participation in or otherwise
distributing any of the Securities or any of the Warrant Shares, in any transaction in violation of the securities Laws of the
United States of America or any state, without prejudice, however, to Purchaser’s right at all times to sell or otherwise
dispose of all or any part of the Securities and the Warrant Shares under an exemption from such registration available under
the Securities Act (including, without limitation, if available, Rule 144 promulgated thereunder). If Purchaser should in
the future decide to dispose of any of the Securities or any of the Warrant Shares, Purchaser understands and agrees that it may
do so only in compliance with the Securities Act and applicable state securities Laws as then in effect.

 

Section
4.07. Nature of Purchaser. Purchaser represents and warrants to, and covenants and agrees with, the Company that,
(a) it is an institution that is an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7)
under the Securities Act, and (b) by reason of its business and financial experience it has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, is able to bear the economic risk of such investment and, at the present time, would be able to afford a complete
loss of such investment. Purchaser is not an entity formed for the specific purpose of acquiring the Securities.

 

Section
4.08. Receipt of Information. Purchaser acknowledges that it (a) has access to the SEC Documents, (b) has been provided
a reasonable opportunity to ask questions of and receive answers from Representatives of the Company regarding such matters, and
(c) has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision
with respect to the acquisition of the Securities.

 

Section
4.09. Restricted Securities. Purchaser understands that the Securities it is purchasing are characterized as “restricted
securities” under the federal securities Laws, inasmuch as they are being acquired from the Company in a transaction not
involving a public offering, and that under such Laws and applicable regulations such securities may be resold without registration
under the Securities Act only in certain limited circumstances. In this connection, Purchaser represents that it is knowledgeable
with respect to Rule 144 of the SEC promulgated under the Securities Act.

 

Section
4.10. Legend. It is understood that the certificates evidencing the Securities will bear the following legend:

 

“These
securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”),
or the securities laws of any state or other jurisdiction. These securities may not be sold or offered for sale, pledged or hypothecated
except pursuant to an effective registration statement under the Securities Act or pursuant to an exemption from registration
thereunder, in each case in accordance with all applicable securities laws of the states or other jurisdictions, and in the case
of a transaction exempt from registration, such securities may only be transferred if the transfer agent for such securities has
received documentation satisfactory to it that such transaction does not require registration under the Securities Act.”

 

Section
4.11. Reliance on Exemptions. Purchaser understands that the Securities are being offered and sold to Purchaser in
reliance upon specific exemptions from the registration requirements of United States federal and state securities laws, and that
the Company is relying upon the truth and accuracy of, and Purchaser’s compliance with, the representations, warranties,
agreements, acknowledgments and understandings of Purchaser set forth herein in order to determine the availability of such exemptions
and the eligibility of Purchaser to acquire the Securities.

 

    6

     

    

 

ARTICLE
V

COVENANTS

 

Section
5.01. Purchaser Lock-Up. Without the prior written consent of the Company, Purchaser agrees that from the Agreement
Date until the end of the 180th day after the Agreement Date, neither Purchaser nor any of its Affiliates will offer, sell, pledge
or otherwise transfer or dispose of any of the Securities or the Warrant Shares or enter into any transaction or device designed
to do the same; provided, however, that Purchaser may transfer the Securities or the Warrant Shares to an Affiliate
of Purchaser, so long as such Affiliate agrees to the restrictions in this Section 5.01.

 

ARTICLE
VI

MISCELLANEOUS

 

Section
6.01. Captions. The captions herein are included for convenience of reference only and shall be ignored in the construction
or interpretation hereof. Article, Section and Exhibit references are to this Agreement, unless otherwise specified.

 

Section
6.02. Severability. If any provision in this Agreement is held to be illegal, invalid, not binding, or unenforceable,
such provision shall be fully severable and this Agreement shall be construed and enforced as if such illegal, invalid, not binding
or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions shall remain in full force
and effect.

 

Section
6.03. Survival. The representations and warranties of the Parties contained in this Agreement shall survive the consummation
of the transactions contemplated hereby.

 

Section
6.04. Waiver and Amendment. Any provision of this Agreement may be amended or waived if, but only if, such amendment
or waiver is in writing and is signed, in the case of an amendment, by each Party to this Agreement, or in the case of a waiver,
by the Party against whom the waiver is to be effective.

 

Section
6.05. Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the
Parties hereto and their respective successors and assigns; provided that no Party may assign, delegate or otherwise transfer
any of its rights or obligations under this Agreement without the written consent of each other Party hereto, and any such purported
assignment in violation of the terms hereof shall be null and void ab initio.

 

    7

     

    

 

Section
6.06. Communications. All notices and demands provided for hereunder shall be in writing and shall be given by registered
or certified mail, return receipt requested, air courier guaranteeing overnight delivery, electronic mail or personal delivery
to the following addresses:

 

(a) If
to IRG or to Purchaser:

 

Industrial
Realty Group, LLC

11111 Santa Monica Blvd., Suite 800

Los Angeles, CA 90025

Attention: Richard Klein

Email: RKlein@industrialrealtygroup.com

 

With
a copy to (which shall not constitute notice):

 

Fainsbert
Mase Brown & Sussman, LLP

11111 Santa Monica Blvd., Suite 810

Los Angeles, CA 90025

Attention: Dean Sussman, Esq.

Email: DSussman@fms-law.com

 

(b) If
to the Company:

 

Hall
of Fame Resort & Entertainment Company

2626 Fulton Dr. NW

Canton, OH 44718

Attention: Jason Krom

Email: jason.krom@HOFVillage.com

 

and

 

Hall
of Fame Resort & Entertainment Company

2626 Fulton Dr. NW

Canton, OH 44718

Attention: Tara Charnes

Email: tara.charnes@HOFVillage.com

 

With
a copy to (which shall not constitute notice):

 

Hunton
Andrews Kurth LLP

600 Travis, Suite 4200

Houston, TX 77002

Attention: Henry Havre

Email: hhavre@hunton.com

 

or
to such other address as any Party may designate in writing. All notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; at the time of transmittal, if sent via electronic mail; upon actual
receipt if sent by certified mail, return receipt requested, or regular mail, if mailed; and upon actual receipt when delivered
to an air courier guaranteeing overnight delivery.

 

    8

     

    

  

Section
6.07. Entire Agreement. This Agreement constitutes the entire agreement among the Parties with respect to the subject
matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, among the Parties with
respect to the subject matter of this Agreement.

 

Section
6.08. Governing Law. This Agreement will be construed in accordance with and governed by the Laws of the State of
New York.

 

Section
6.09. Jurisdiction; Waiver Of Jury Trial. Each of the Parties hereto (a) consents to submit itself to the personal
jurisdiction of any Federal or state court located in the Borough of Manhattan in the City of New York, New York, in the event
any dispute arises out of this Agreement, (b) agrees that it will not attempt to deny or defeat such personal jurisdiction
by motion or other request for leave from any such court and (c) agrees that it will not bring any action relating to this
Agreement in any court other than a Federal or state court located in the Borough of Manhattan in the City of New York, New York.
Each of the Parties hereto hereby irrevocably waives any and all right to trial by jury in any legal proceeding arising out of
or related to this agreement or the transactions contemplated hereby.

 

Section
6.10. Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different Parties
hereto in separate counterparts, including facsimile or .pdf format counterparts, each of which counterparts, when so executed
and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the
same Agreement.

 

(Signature
Page Follows)

 

    9

     

    

 

IN
WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the Agreement Date first above written.

 

	 	HALL OF FAME RESORT &
	 	ENTERTAINMENT COMPANY,
	 	a Delaware corporation
	 	 
	 	By:	/s/ Jason Krom
	 	 	Name:  	Jason Krom
	 	 	Title:	Chief Financial Officer
	 	 
	 	INDUSTRIAL REALTY GROUP, LLC,
	 	a Nevada limited liability company
	 	 
	 	By:	 /s/ Richard Klein
	 	 	Name:	Richard Klein
	 	 	Title:	Chief Financial Officer
	 	 
	 	CH CAPITAL LENDING, LLC,
	 	a Delaware limited liability company
	 	 
	 	By:	Holdings SPE Manager, LLC,
	 	 	a Delaware limited liability company,
	 	 	its Manager
	 	 
	 	By:	 /s/ Richard Klein
	 	 	Name:	Richard Klein
	 	 	Title:	Chief Financial Officer

 

     

     

    

 

Schedule
2.01

 

SECURITIES

	 
Purchaser
	 	Shares of
 Common Stock	 	 	Purchase Price
 Per Share of
 Common Stock	 	 	Aggregate Purchase
 Price for Shares of
 Common Stock	 	 	Warrants	 	 	Purchase
 Price Per
 Warrant	 	 	Aggregate
 Purchase Price
 for Warrants	 	 	Aggregate
 Purchase
 Price for
 Securities	 
	CH Capital
 Lending, LLC	 	 	10,813,774	 	 	$	1.40	 	 	$	15,139,283.83	 	 	 	10,036,925	 	 	$	0.01	 	 	$	100,369.25	 	 	$	15,239,653.08	 

 

     

     

    

 

EXHIBIT A

 

Exhibit
A

 

FORM
OF WARRANT

 

HALL
OF FAME RESORT & ENTERTAINMENT COMPANY

 

No.
2020 W-[●] 

 

Warrant
Shares: [●] Initial Exercise Date: [●], 2021

 

        

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, [●] or its assigns (the
“Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after [●], 2021 (the “Initial Exercise Date”) and on or prior to 5:00 p.m.
(New York City time) on [●], 2025 (the “Termination Date”) but not thereafter, to subscribe for and purchase
from Hall of Fame Resort & Entertainment Company, a company incorporated under the laws of the State of Delaware (the “Company”),
up to [●] shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock (as defined
in Section 1). The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price (as defined
in Section 2(b)). This Warrant shall be issued and maintained in the form of a certificate held by the Holder.

 

Section
1. Definitions. In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings
indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Bid
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common
Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a
Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or
OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the
Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market
value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders of a majority
in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be
paid by the Company.

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed
to be authorized or required by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential
employee”  or any other similar orders or restrictions or the closure of any physical branch locations at the direction
of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks
in The City of New York are generally are open for use by customers on such day.

 

     

     

    

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.0001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange, OTCQB or OTCQX (or any successors to any of the foregoing).

 

“Transfer
Agent” means Continental Stock Transfer and Trust Company, the current transfer agent of the Company, with a mailing
address of One State Street, 30th Floor, New York, NY 10004 and a facsimile number of 212-616-7615, and any successor transfer
agent of the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a
Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or
OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the
Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market
value of a share of Common Stock as determined by an independent appraiser selected in good faith by the holders of a majority
in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be
paid by the Company.

 

“Warrants”
means this Warrant and other Common Stock purchase warrants issued by the Company contemporaneously with the issuance of this
Warrant.

 

    1

     

    

 

Section
2. Exercise.

 

a) Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed e-mail
attachment of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”). Within the earlier
of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section
2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares
specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless
the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original
Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice
of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been
exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading
Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting
in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding
number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder
and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company
shall use its reasonable best efforts to deliver any objection to any Notice of Exercise within one (1) Business Day of receipt
of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the
provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares
available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

b) Exercise
Price. The exercise price per share of Common Stock under this Warrant shall be $1.40, subject to adjustment hereunder (the
“Exercise Price”).

 

c) Cashless
Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained
therein is not current and available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised,
in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive
a number of Warrant Shares equal to the quotient obtained by dividing ((A-B)(X)) by (A), where:

 

	 	(A)	=	as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

    2

     

    

 

	 	(B)	=	the Exercise Price of this Warrant, as adjusted hereunder; and
	 	 	 	 
	 	(X)	=	the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

In
connection with clause (ii) in (A) above, upon written request of the Company, the Holder will promptly provide evidence reasonably
acceptable to the Company of the Bid Price of the Common Stock on the principal Trading Market that was reported by Bloomberg
L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise provided that failure to provide such
evidence shall not reduce or otherwise toll the Company’s obligation to deliver the Warrant Shares on or before the Warrant
Share Delivery Date.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company
agrees not to take any position contrary to this Section 2(c).

 

d) Mechanics
of Exercise.

 

i. Delivery
of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer
Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or
resale of the Warrant Shares by Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical
delivery of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the
number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the
Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice
of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading
Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant
Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes
to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective
of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the case of
a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising
the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason to deliver to
the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the
Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based
on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per
Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share
Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer
agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard
Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s
primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

    3

     

    

 

ii. Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii. Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder
is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise
purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated
receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount,
if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common
Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required
to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such
purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent
number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver
to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise
and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000
to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to
such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay
the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect
of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s
right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific
performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon
exercise of the Warrant as required pursuant to the terms hereof.

 

iv. Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section
2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise by notifying the Company
of such rescission within ten (10) days of delivering the Notice of Exercise.

 

    4

     

    

 

v. No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi. Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the
Holder; provided, however, that, in the event that Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees
to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day
electronic delivery of the Warrant Shares.

 

vii. Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of
this Warrant, pursuant to the terms hereof.

 

Section
3. Certain Adjustments.

 

a) Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that
the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

    5

     

    

 

b) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard
to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the
date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date
as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the
Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right
to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and
such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would
not result in the Holder exceeding the Beneficial Ownership Limitation).

 

c) Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a "Distribution"),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation
in such Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution
to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time,
if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

    6

     

    

 

d) Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise
of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to
apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such
Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any
Successor Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or within
30 days after, the consummation of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable
Fundamental Transaction), purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes
Value (as defined below) of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental
Transaction; provided, however, that, if the Fundamental Transaction is not within the Company's control, including
not approved by the Company's Board of Directors, Holder shall only be entitled to receive from the Company or any Successor Entity
the same type or form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of
this Warrant, that is being offered and paid to the holders of Common Stock of the Company in connection with the Fundamental
Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether the holders of Common
Stock are given the choice to receive from among alternative forms of consideration in connection with the Fundamental Transaction;
provided, further, that if holders of Common Stock of the Company are not offered or paid any consideration in such
Fundamental Transaction, such holders of Common Stock will be deemed to have received common stock of the Successor Entity (which
Entity may be the Company following such Fundamental Transaction) in such Fundamental Transaction. “Black Scholes Value”
means the value of this Warrant based on the Black-Scholes Option Pricing Model obtained from the “OV” function on
Bloomberg, determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting
(A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public
announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater
of 100% and the 100 day volatility obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization factor)
as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying
price per share used in such calculation shall be the greater of (i) the sum of the price per share being offered in cash, if
any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the highest
VWAP during the period beginning on the Trading Day immediately preceding the announcement of the applicable Fundamental Transaction
(or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day of the Holder’s
request pursuant to this Section 3(e) and (E) a zero cost of borrow. The payment of the Black Scholes Value will be made by wire
transfer of immediately available funds (or such other consideration) within the later of (i) five Business Days of the Holder’s
election and (ii) the date of consummation of the Fundamental Transaction. The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Company under this Warrant in accordance with the provisions of this Section 3(e) pursuant to written agreements
in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such
Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security
of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is
exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to
the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise
of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder
to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental
Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being
for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise
every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect
as if such Successor Entity had been named as the Company herein.

 

    7

     

    

 

e) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

f) Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall
promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email
to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least
20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not
to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer
or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common
Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such
notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

    8

     

    

 

 

g) Voluntary
Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term
of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and
for any period of time deemed appropriate by the board of directors of the Company.

 

Section
4. Transfer of Warrant.

 

a) Transferability.
This Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at the principal office
of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this
Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender
this Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company
assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for
the purchase of Warrant Shares without having a new Warrant issued.

 

b) New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of
the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed
by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial
issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant
thereto.

 

    9

     

    

 

c) Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,
and for all other purposes, absent actual notice to the contrary.

 

Section
5. Miscellaneous.

 

a) No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights
as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in
Section 3.

 

b) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c) Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d) Authorized
Shares.

 

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant.
The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided
herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common
Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant
Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens
and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above
the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may
be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions
or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform
its obligations under this Warrant.

 

    10

     

    

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof.

 

e) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles
of conflicts of law thereof (other than Section 5-1401 of the General Obligations law). Each party agrees that all legal proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Warrant (whether brought against
a party hereto or their respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall
be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits
to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to
such party at the address in effect for notices to it under this Warrant and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any provisions
of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable
attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action
or proceeding.

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder
does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision
of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any
material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by
the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

    11

     

    

 

h) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder to the Company shall be in writing
and delivered personally, or e-mail, or sent by a nationally recognized overnight courier service, addressed to the Company, at
2626 Fulton Drive, NW, Canton, OH 44718, Attention: (i) Chief Executive Officer, email address: michael.crawford@HOFvillage.com
and (ii) General Counsel, email address: Tara.Charnes@HOFVILLAGE.com, or such other email address or address as the Company may
specify for such purposes by notice to the Holders. Any and all notices or other communications or deliveries to be provided by
the Company hereunder shall be in writing and delivered personally, by facsimile or electronic transmission, or sent by a nationally
recognized overnight courier service addressed to each Holder at the facsimile number, email address or address of such Holder
appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed given and effective
on the earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number
or via email at the email address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next
Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number
or via email at the email address set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New York
City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given. To the extent
that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any subsidiaries,
the Company shall file such notice with the Commission pursuant to a Current Report on Form 8-K as soon as practicable and no
later than 4 Business Days after providing such notice hereunder.

 

i) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j) Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

k) Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand,
and the Holder or the beneficial owner of this Warrant, on the other hand.

 

m) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n) Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

[Signature
page follows]

 

    12

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	HALL OF FAME RESORT & ENTERTAINMENT COMPANY
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

     

     

    

 

NOTICE
OF EXERCISE

 

To: HALL
OF FAME RESORT & ENTERTAINMENT COMPANY

 

(1) The
undersigned hereby elects to purchase ________ Warrant Shares of Hall of Fame Resort & Entertainment Company (the “Company”)
pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price
in full, together with all applicable transfer taxes, if any.

 

(2) Payment
shall take the form of (check applicable box):

 

		☐	in
lawful money of the United States; or

 

		☐	if
permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3) Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

 _______________________________

    

The
Warrant Shares shall be delivered to the following DWAC Account Number:

 

 _______________________________

   

 _______________________________

   

 _______________________________

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: __________________________________________________________________________

 

Signature
of Authorized Signatory of Investing Entity: ____________________________________________________

 

Name
of Authorized Signatory: ______________________________________________________________________

 

Title
of Authorized Signatory: _______________________________________________________________________

 

Date:
__________________________________________________________________________________________

 

     

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 	
	 	 	(Please
    Print)
	Address:	 	
	 	 	 
	 	 	(Please
    Print)
	Phone
    Number:	 	
	 	 	 
	Email
    Address:                                                             	 	
	 	 	 
	Dated:
    _______________ __, ______	 	 
	 	 	 
	Holder’s
    Signature:                                                           	 	 
	 	 	 
	Holder’s
    Address:

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