Document:

EX-10.8

 Exhibit 10.8 

EXECUTION VERSION 
  

			
	$5,000,000	  	March 15, 2019

 SECURED PROMISSORY NOTE 

Flyhalf Acquisition Company Pty Ltd, a proprietary company limited by shares organized and existing under the laws of Australia (the
“Maker”), hereby promises to pay to the order of 2M Properties Pty Ltd (ACN 109 057 383), a proprietary company limited by shares organized and existing under the laws of Australia, as trustee for The 2M Trust (the
“Holder”), the principal sum of FIVE MILLION AND 00/100 DOLLARS ($5,000,000), together with interest thereon calculated in accordance with the provisions of this Secured Promissory Note (together with any promissory note issued in
replacement hereof, this “Note”). 
 Section 1. Definitions. As used in this Note, the following
capitalized terms have the following meanings: 
 “Applicable Rate” means (a) for the period from the
date of this Note to but not including the first anniversary of the date of this Note, 8.00% per annum and (b) from and after such first anniversary, 10.00% per annum. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York
or Sydney, Australia are authorized or required by law to close. 
 “Company” means F45 Aus Hold Co Pty Ltd
(ACN 620 135 426), a proprietary company limited by shares organized and existing under the laws of Australia. 

“Guarantor” means F45 Training Holdings Inc., a Delaware corporation. 

“Guaranty” means that certain Guaranty, dated as of the date hereof, made by the Guarantor in favor of the
Holder and the holders of the Other Notes. 
 “Other Notes” means (a) that certain Secured Promissory
Note, dated as of the date hereof, made by the Holder in favor of Robert Benjamin Deutsch in the principal amount of $22,500,000 and (b) that certain Secured Promissory Note, dated as of the date hereof, made by the Holder in favor of Adam
James Gilchrist in the principal amount of $22,500,000, and all promissory notes issued in replacement thereof. 

“Pledge Agreement” means that certain Share Security Deed, dated as of the date hereof, among the Maker, the
Holder and the holders of the Other Notes. 
 Section 2. Payment of Interest. Beginning on the date of this Note,
interest will accrue at a rate equal to the Applicable Rate on the unpaid principal amount of this Note outstanding from time to time. Interest shall be calculated on the basis of the actual number of days elapsed and a three hundred sixty
(360) day year. Accrued interest shall be payable (a) on the last Business Day of each calendar quarter and (b) upon the payment or prepayment of any principal owing under this Note (on and to the extent of the principal amount paid
or prepaid). Any accrued interest which for any reason has not theretofore been paid will be paid in full on the date on which the final principal payment on this Note is paid.     

Notwithstanding the foregoing, upon the occurrence and during the continuance of an Event of Default, interest will accrue on the amounts
payable under this Note at a rate equal to the Applicable Rate plus 4.00% per annum. 
 Whenever any payment to be made under this Note is
stated to be due on a day that is not a Business Day, payment may be made on the next succeeding Business Day, and such extension of time shall in each case be included in the computation of interest payable on such date. 

 Section 3. Repayment. Unless accelerated pursuant to
Section 6 or prepaid by the Maker pursuant to Section 4, the aggregate outstanding principal amount of this Note, together with all accrued and unpaid interest thereon, shall be due and payable on March 15, 2024. Upon
the payment in full by the Maker of the principal balance on this Note, interest accrued thereon and all other amounts owing hereunder, this Note shall be deemed terminated. 

Section 4. Voluntary Prepayment. Subject to Section 7(d), the Maker may, at any time and from time to time
without premium or penalty, prepay all or any portion of the outstanding principal amount of this Note.     

Section 5. Events of Default. The occurrence of any of the following shall constitute an “Event of
Default” under this Note; provided, however, that Holder shall act in good faith to not induce an Event of Default: 
 (a)
The Maker shall fail to pay when due any principal, interest or other payment required under the terms of this Note and such failure continues for five (5) Business Days after the original due date; 

(b) Any representation or warranty made or deemed made by or on behalf of the Maker or the Guarantor in or in connection with this Note, the
Guaranty, the Pledge Agreement or any amendment, modification or waiver hereof or thereof, or in any report, certificate, instrument or other document furnished pursuant to or in connection herewith or therewith, shall prove to have been incorrect
or misleading in any material respect when made or deemed made; 
 (c) The Maker or the Guarantor shall fail to observe or perform any
covenant, condition or agreement contained in this Note, the Guaranty or the Pledge Agreement (other than as specified in Section 5(a)) and such failure shall continue unremedied for a period of 30 days after the earlier of
(i) notice thereof from the Holder or any holder of any Other Note and (ii) the date the Maker or the Guarantor had actual knowledge of such failure; 

(d) This Note, the Guaranty or the Pledge Agreement, or any provision of any of the foregoing, shall cease to be in full force and effect and
valid, binding and enforceable in accordance with its terms against the Maker or the Guarantor, as applicable, or shall be repudiated by any of them, or the Pledge Agreement shall cease to create a valid and perfected lien of the priority required
thereby on any of the collateral purported to be covered thereby, or the Maker or the Guarantor shall so state in writing; 
 (e) An
Insolvency Event (as defined in the Pledge Agreement) shall occur with respect to the Maker or the Company; 
 (f) The Guarantor shall
(i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) become insolvent or generally fail to pay, or admit in writing its inability to
pay, its debts as they mature, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated, (v) commence a voluntary case or other proceeding seeking liquidation, reorganization or
other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an
involuntary case or other proceeding commenced against it or (vi) take any action for the purpose of effecting any of the foregoing; 

(g) Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Guarantor, or of all or a substantial part of its
property, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Guarantor or any of its subsidiaries, if any, or the debts thereof under any bankruptcy, insolvency or other similar law
now or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within 60 days of commencement; or 

  
 2 

 (h) There is entered against the Maker or any subsidiary thereof a final judgment or order
for the payment of money in an aggregate amount (as to all such judgments and orders) in excess of the $5,000,000 (or the equivalent thereof in another currency) and (i) enforcement proceedings are commenced by any creditor upon such judgment
or order or (ii) there is a period of 30 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect. 

Section 6. Rights of Holder upon Default. Upon the occurrence of any Event of Default (other than an Event of Default
described in Sections 5(e), 5(f) or 5(g)) and at any time thereafter during the continuance of such Event of Default, the Holder may, by written notice to the Maker, declare the aggregate principal amount of this Note (together
with all accrued interest thereon and all other amounts owing hereunder) to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein to
the contrary notwithstanding. Upon the occurrence of any Event of Default described in Sections 5(e) , 5(f) or 5(g), immediately and without notice, the aggregate principal amount of this Note (together with all accrued interest
thereon and all other amounts owing hereunder) shall automatically become immediately due and payable, without any action on the part of the Holder or any other person and without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived, anything contained herein to the contrary notwithstanding. In addition to the foregoing remedies, upon the occurrence and during the continuance of any Event of Default, the Holder may exercise any other right,
power or remedy granted to it under any contract or agreement at any time and any other rights and remedies which the Holder may have in law or in equity or by statute or otherwise. 

If any amount payable hereunder is not paid when due (by acceleration or otherwise), the Maker shall pay all reasonable costs and expenses
(including, without limitation, attorneys’ fees and court costs) incurred by the Holder in connection with the collection of such amount and the enforcement of their rights and remedies hereunder and under the Guaranty and the Pledge Agreement
(whether or not any lawsuit is ever filed). 
 Section 7. Miscellaneous.     

(a) Place of Payment. Payments of principal and interest with respect to this Note shall be made by wire transfer of immediately
available funds by 1:00 p.m. New York time on the date such payment is due to the Holder at the address and to the attention of such person as specified from time to time by the Holder by written notice to the Maker. 

(b) Currency of Payment; Payments Generally. All payments of principal and interest on this Note will be made in United States Dollars.
Each such payment shall be made without any offset, counterclaim, recoupment, defense, deduction, abatement, withholding or reduction whatsoever. 

(c) Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that
portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note. 

(d) Pari Passu Ranking; Application of Payments. The Holder acknowledges and agrees that each of this Note and the Other Notes shall
rank equally without preference or priority of any kind over one another, and all payments and recoveries payable on account of principal and interest on this Note or the Other Notes shall be paid and applied ratably and proportionately to the
amounts outstanding under this Note and the Other Notes on the basis of their original principal amounts. In the event the Holder receives payments in excess of its pro rata share of the aggregate payments

  
 3 

 
received by the Holder and the holders of the Other Notes (whether through payment by the Maker, collection, enforcement, exercise of rights and remedies hereunder or under the Guaranty or the
Pledge Agreement, or otherwise), then the Holder shall hold in trust all such excess payments for the benefit of the holders of the Other Notes and shall pay such amounts held in trust to such other holders upon demand by such holders. All payments
will be applied first to the repayment of accrued costs and expenses, second to accrued interest and third to the repayment of principal. By its acceptance hereof, the Holder acknowledges and agrees that each of the holders of the Other Notes shall
be an intended third-party beneficiary of this Section 7(d) and shall be entitled to assert any claims and enforce the provisions of this Section 7(d) in law or in equity the same as if it were party hereto. 

(e) Waiver and Amendment. This Note may only be amended by a writing executed by each of the Holder and the Maker that identifies
itself as an amendment to this Note. Except as otherwise provided in this Note, any failure of any party to comply with any obligation, covenant, agreement or condition herein may be waived by the party entitled to the benefits thereof only by a
written instrument signed by the party granting such waiver. No waiver that may be given by a party will be applicable except in the specific instance for which it is given, and such waiver or failure to insist upon strict compliance with such
obligations, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. No delay on the part of the Holder in the exercise of any power or rights under this Note, the Guaranty,
the Pledge Agreement or any other instrument executed pursuant hereto or thereto shall operate as a waiver thereof, nor shall a single or partial exercise of any other power or right preclude further exercise thereof. 

(f) Assignment. This Note binds and benefits the parties hereto and their respective heirs, executors, administrators, successors and
assigns, except that the Maker may not assign, delegate or otherwise transfer this Note or any of its rights or obligations under this Note without the prior written consent of the Holder. The Holder may assign its rights hereunder or any interest
herein without the prior written consent of the Maker. 
 (g) Severability. If any provision of this Note is held invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions of this Note are not affected or impaired in any way and the parties agree to negotiate in good faith to replace such invalid, illegal and unenforceable provision
with a valid, legal and enforceable provision that achieves, to the greatest lawful extent under this Note, the economic, business and other purposes of such invalid, illegal or unenforceable provision. 

(h) Counterparts. This Note may be executed in any number of counterparts, each of which, when so executed, shall be deemed to be an
original and all of which, taken together, shall constitute one and the same Note. Delivery of an executed counterpart of a signature page to this Note by electronic transmission shall be as effective as delivery of an original executed counterpart
of this Note. 
 (i) Governing Law; Submission to Jurisdiction. This Note shall be governed by and construed in accordance with the
internal laws of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of laws of any other jurisdiction. The
Maker irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Holder or any of its officers,
directors, employees, agents or affiliates in any way relating to this Note, the Pledge Agreement or the Guaranty or the transactions relating hereto or thereto, in any forum other than the courts of the State of New York sitting in New York County,
and of the United States District Court for the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating this Note, the Pledge Agreement or the Guaranty, or for recognition or
enforcement of any judgment, and the Maker hereby irrevocably and unconditionally submits to the non-exclusive jurisdiction of such courts for all legal proceedings arising out of or relating to this Note or
the 

  
 4 

 
transactions contemplated hereby. The Maker irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, (i) any objection that it may now or hereafter have to
the laying of venue of any action or proceeding arising out of or relating to this Note in any court referred to above and (ii) the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(j) WAIVER OF JURY TRIAL. THE MAKER HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY
RIGHTS UNDER THIS NOTE, THE GUARANTY OR THE PLEDGE AGREEMENT OR UNDER ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH, AND AGREES THAT ANY SUCH ACTION OR
PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. 
 (k) Service of Process. The Maker hereby irrevocably designates,
appoints and empowers Guarantor, with its offices at 236 California St., El Segundo, California 90245, as its designee, appointee and agent to receive, accept and acknowledge for and on its behalf, and its properties, assets and revenues, service
for any and all legal process, summons, notices and documents which may be served in any such action, suit or proceeding brought in the courts referred to in Section 7(i) which may be made on such designee, appointee and agent in
accordance with legal procedures prescribed for such courts, with respect to any suit, action or proceeding in connection with or arising out of this Note, the Pledge Agreement or the Guaranty. If for any reason such designee, appointee and agent
hereunder shall cease to be available to act as such, the Maker agrees to designate a new designee, appointee and agent in the City of New York on the terms and for the purposes of this Section 7(k) satisfactory to the Holder. The Maker
further hereby irrevocably consents and agrees to the service of any and all legal process, summons, notices and documents out of any of the aforesaid courts in any such action, suit or proceeding by serving a copy thereof upon the agent for service
of process referred to in this Section 7(k) (whether or not the appointment of such agent shall for any reason prove to be ineffective or such agent shall accept or acknowledge such service) or by mailing copies thereof by registered or
certified airmail, postage prepaid, to it at its address shown below its signature hereto or at such other address as the Maker may, by written notice received by the Holder, have designated as the Maker’s address for such purpose. The Maker
agrees that the failure of any such designee, appointee and agent to give any notice of such service to it shall not impair or affect in any way the validity of such service or any judgment rendered in any action or proceeding based thereon. Nothing
herein shall in any way be deemed to limit the ability of the Holder to serve any such legal process, summons, notices and documents in any other manner permitted by applicable law or to obtain jurisdiction over the Maker or bring actions, suits or
proceedings against the Maker in such other jurisdictions, and in any manner, as may be permitted by applicable law. 
 (l) Guaranty and
Pledge Agreement. The obligations of the Maker under this Note are (i) guaranteed by the Guarantor pursuant to the Guaranty and (ii) secured pursuant to the Pledge Agreement. 

(m) Judgment Currency. This is an international transaction in which the specification of United States Dollars and payment in New York
is of the essence, and the obligations of the Maker under this Note to make payments in United States Dollars shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted into any currency other
than United States Dollars, or in another place, in each case except to the extent that such tender or recovery results in the effective receipt by the Holder, acting in good faith and using commercially reasonable procedures in converting the
currency so tendered into United States Dollars, of the full amount in United States Dollars of the amounts payable to the Holder under this Note. 

  
 5 

 If, for the purpose of obtaining or enforcing judgment against the Maker in any court or in
any jurisdiction, it becomes necessary to convert into or from any currency other than United States Dollars (such other currency being hereinafter referred to as the “Judgment Currency”) an amount due in United States Dollars, the
conversion shall be made at the rate of exchange at which, in accordance with normal banking procedures, the Holder could purchase United States Dollars in New York, New York, United States of America with the Judgment Currency on the Business Day
next preceding the day on which such judgment is rendered. The obligation of the Maker in respect of any such sum due from it to the Holder hereunder shall, notwithstanding the rate of exchange actually applied in rendering such judgment, be
discharged only to the extent that, on the Business Day following receipt by the Holder of any sum adjudged to be due hereunder in the Judgment Currency the Holder may, in accordance with normal banking procedures, purchase and transfer United
States Dollars to New York, New York with the amount of the Judgment Currency so adjudged to be due, and the Maker hereby, as a separate obligation and notwithstanding any such judgment, agrees to indemnify the Holder against, and to pay the Holder,
on demand, in United States Dollars, the amount (if any) by which the sum originally due to the Holder in United States Dollars hereunder exceeds the amount of United States Dollars so purchased and transferred. 

[Signature page follows.] 

  
 6 

 IN WITNESS WHEREOF, the Maker has executed and delivered this Note as of the date first set
forth above. 
  

	
	 Signed by
 Flyhalf Acquisition
Company Pty Ltd
 (ACN 632 252 110)

	in accordance with section 127 of the Corporations Act 2001 by the sole director and sole company secretary
	
	/s/ Terence Rooney
	Signature of sole director and sole company secretary

  

	
	Terence Rooney
	 Name of sole director and sole company secretary

(please print)

  
 [Signature page to
Seller Note]EX-10.9

 Exhibit 10.9 

EXECUTION VERSION 

PROMOTIONAL AGREEMENT 

THIS PROMOTIONAL AGREEMENT (“Agreement”) is entered into this 15th day of March, 2019 (the “Effective Date”)
by and between F45 Training Holdings Inc., a Delaware corporation (“Company”) and Mark Wahlberg (“Provider”). Company and Provider are referred to herein collectively as the “Parties” and each as a
“Party.” 
 RECITALS 

A. Provider is an internationally renowned actor, producer, executive producer and entrepreneur. 

B. Company is an international franchisor of fitness/group training facilities. 

C. Company wishes to engage Provider to provide promotional and related services to the Company, its subsidiaries and the F45 brand of
franchised group fitness training facilities. 
 AGREEMENT 

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows (any
capitalized terms not otherwise defined herein shall have the meanings set forth in Section 7): 
 1. Services. 

During the Term (as defined below), Provider shall devote a reasonable amount of his time necessary to comply with the obligations under this
Agreement to promote and participate in mutually approved marketing opportunities for the Company and its subsidiaries in connection with the F45 brand of franchised group fitness training facilities (collectively, the “Products”),
which opportunities may include, but not be limited to, the following: 
 (a) Subject to Provider’s professional availability and
approval of dates, times, locations and specific event details, Provider shall make reasonable efforts to be available for public and private appearances at a mutually agreed number of Company events in the United States during each year of the
Term, with each appearance lasting no more than three (3) hours, exclusive of travel time. Company events may include, but not be limited to, investor meetings, flagship store openings and special events, “draft days,” and franchise
conferences. Upon request, Provider shall use reasonable good faith efforts to keep the Company informed with respect to any professional obligations or commitments that may impact Provider’s obligations hereunder. Notwithstanding the
foregoing, Provider’s obligations and activities as an actor, producer, executive producer and director shall take precedence over any public appearances described in this clause (a). 

(b) Use of reasonable efforts by Provider to provide product placement for the Product in entertainment content that is under the control of
Provider, and at private parties and custom events controlled and hosted by Provider. (Such placements, if any, shall be subject to Company paying and providing any required third party clearances disclosed to

 
the Company in writing with reasonable advance notice prior to the applicable party(ies) or event(s), including, without limitation, master use fees, synchronization fees and other licensing fees
payable to third parties, and venue-related restrictions.) Failure to so provide any of the foregoing opportunities shall not be deemed a breach of this Agreement. All documented,
out-of-pocket costs associated with such product placements shall be borne by the Company. 

(c) Use of reasonable efforts by Provider, when making public appearances or participating in interviews, whether or not they have been
arranged by Company, to promote Provider’s affiliation with the Company, make positive public comments about the Products (taking into consideration the nature of the appearance or interview). Failure to so participate in any of the foregoing
shall not be deemed a breach of this Agreement. 
 (d) Use of reasonable efforts by Provider to promote the Products through Provider’s
current and future personal and professional relationships. 
 (e) Provider shall participate in a mutually agreed upon number of
photo/video shoots (each a “Shoot”), subject to the following: . 
 (i) All costs and expenses related to
the Shoots shall be borne by the Company. 
 (ii) Provider’s participation in any Shoot shall be subject to
Provider’s professional availability and mutual agreement regarding the date, time and location of the Shoot. 
 (iii)
All aspects of the Shoot shall be subject to the mutual approval of Provider and the Company, including without limitation general creative concepts, storyboards, scripts, directors, photographers, hair/makeup/wardrobe personnel, “look”,
stills (including retouching), edits, copy, layouts, others appearing with Provider and all uses thereof. 
 (iv) The Company
shall be responsible for complying with all SAG and similar obligations in connection with any Shoot. 
 (f) Provider shall participate in a
mutually agreed upon number of publicity interviews per year of the Term with mutually approved outlets via phone or email in connection with the Company’s ongoing promotion of the Products at such times as shall be reasonably agreed by the
Company and Provider, subject to Provider’s professional availability. In addition, Provider shall have the right to pre-approve the identity of the interviewer, the interview questions and the length of
the interviews. 
 (g) Provider and Company shall mutually approve a press release and a Q&A regarding Provider’s affiliation with
the Products. 
 (h) Provider shall provide the Company with a reasonable number of photographs, images, recordings videos and/or other
content of and/or concerning Provider that are approved for use in connection with mutually approved services and mutually 

 
approved promotion of the Products. All costs and expenses in connection with the foregoing photographs, images, recordings videos and/or other content shall be borne by the Company, including
without limitation the costs and expenses of any shoots to generate such materials, costs to clear any mutually approved pre-existing materials and the costs and expenses of complying with any SAG and similar
obligations with respect to such materials. 
 (i) Social Media Efforts.  

(i) During the Term, Provider shall produce no less than one (1) mutually approved social media post per month of any of
the following: (A) in-feed Instagram posts (still, video or boomerang); (B) Instagram stories; (C) Facebook posts and live videos; and (D) Twitter tweets, all on Provider’s social media
channels to the extent maintained by Provider (the “Social Media Posts”), it being understood that each channel counts as a separate post. For avoidance of doubt, the Instagram story frames shall include, if possible, the swipe-up feature with a link provided by Company. The Social Media Posts shall be posted on a date and time mutually agreed upon by both Parties during the Term. For the avoidance of doubt, Provider shall follow
guidelines for content and creative for the Social Media Posts as provided by the Company. 
 (ii) Provider shall share copy
and any accompanying content (such as photos or video) for the Social Media Post with Company for approval at a reasonable time prior to posting unless otherwise directed by Company (and Provider shall not post any content for the Social Media Posts
without Company’s express prior written approval). 
 (iii) Provider agrees to leave Social Media Posts on
Provider’s social channels during the Term, but may remove post-Term. 
 (iv) In connection with the Social Media Posts,
Provider shall reasonably comply with the Company’s written instructions regarding FTC disclosure obligations as well as the corresponding program hashtag (if applicable, as directed by Company) and Company handles. 

(v) Company may re-tweet and/or re-post
Provider’s Social Media Posts (and tag Provider in such posts) and said postings shall not count against the total number of Social Media Posts as outlined above; provided however any such re-tweet or re-post may only be made in connection with the Products; provided, further, no whitelisting or darklisting of such Social Media Posts shall be permitted. 

(vi) Company shall deliver to Provider written guidance regarding the Company’s legal compliance policies, privacy and
social media policies for Social Media Posts, and Provider shall reasonably comply with such guidance. All posts must also include Company-approved disclosure language (#sponsored, #ad, #paid). 

(vii) Upon Company’s request, Provider shall promptly remove or revise any messaging or content that Provider has
previously posted or distributed that relates to the Products. 

 In connection with any appearances, Shoots, interviews and other activities of Provider
described herein, the Company shall provide for and pay Provider’s out-of-pocket expenses of hair, stylist, makeup and security personnel as well as Provider’s
publicist and manager. All such arrangements shall be negotiated in good faith, and shall reflect Provider’s and such personnel’s customary precedents. In addition, if Provider is required to perform services at a location that is more
than 50 miles from Provider’s principal residence in Los Angeles, the Company shall provide and pay for hotel and travel arrangements (including, without limitation, cost of heavy private jet transportation) for Provider and the foregoing
personnel. Such arrangements shall be negotiated in good faith taking into account Provider’s and such personnel’s customary precedents. The Company shall provide not less than ninety (90) days’ notice of the dates Company shall
request Provider’s services. Provider agrees to respond promptly to the Company’s inquiries regarding Provider’s availability and if not available, provide the Company with alternate dates. 

2. Rights to Promotion Materials. 

Provider acknowledges and agrees that Company will own all right, title, and interest in and to any and all advertising, marketing, and
promotional materials used in connection with Company’s manufacturing, distribution, and sale of the Products, except to the extent that any such materials contain any intellectual property owned by Provider or any entity affiliated with
Provider. Notwithstanding the forgoing, Company acknowledges that it shall have no right, title or interest in or to any entertainment content into which Provider elects to include Company promotional material. 

3. Restricted Stock Units. 

(a) In consideration of Provider’s services hereunder, Provider is being granted 1,369,324 restricted stock units (collectively, the
“Restricted Stock Units”) which shall settle in Common Stock subject to, and in accordance with, the terms and conditions of this Section 3 (with each group of Restricted Stock Units described in each of Sections
3(a))(i), (ii) or (iii) below each consisting of a “Tranche”) as follows: 
 (i) upon the
occurrence of a Vesting Event (as defined below) in which the Company Equity Value (as defined below) is equal to or greater than US$ 1.0 billion , 456,441 Restricted Stock Units will be settled for 456,441 shares of Common Stock; 

(ii) upon the occurrence of a Vesting Event in which the Company Equity Value is equal to or greater than US
$1.5 billion 456,441 Restricted Stock Units will be settled for 456,441 shares of Common Stock; and 
 (iii) upon
the occurrence of a Vesting Event in which the Company Equity Value is equal to or greater than US $2.0 billion 456,442 Restricted Stock Units will be settled for 456,442 shares of Common Stock. 

(b) Notwithstanding anything in this Agreement to the contrary, in order for any Restricted Stock Units in any Tranche to vest and settle in
Common Stock, Provider must continue to provide the services described in Section 1 through and including the date of the consummation of the relevant Vesting Event for such Tranche. In the event Provider ceases to perform the services
described in Section 1 for any reason, any Tranche of Restricted Stock Units which has not been earned and settled at the time of such cessation of services will be forfeited for no consideration. 

 (c) Subject to Section 3(b) above, each Tranche of Restricted Stock Units shall
settle in Common Stock only once upon the occurrence of a Vesting Event in which the Company Equity Value equals or exceeds the applicable threshold associated with such Tranche (it being understood that (i) more than one Tranche of Restricted
Stock Units may be settled at one time in the event more than one Company Equity Value threshold is attained or exceeded in a single Vesting Event and (ii) subject to Section 3(a) and Section 3(b), Tranches that remain
unvested upon the occurrence of a Vesting Event shall remain available for settlement upon the occurrence of a subsequent Vesting Event in which the Company Equity Value threshold for such Tranche is attained). 

(d) The Parties agree that the purpose of the Restricted Stock Units is to reward Provider upon the Company and its subsidiaries (and/or their
successors) achieving certain valuation thresholds in connection with a sale, financing or trading on the public markets, irrespective of changes to the Company’s legal or corporate structure. In the event of adjustments to the Company’s
legal or corporate structure (including reorganizations, conversions of corporate form, distributions, recapitalizations, etc.), the rights and benefits of Provider hereunder shall be adjusted to appropriately so as to replicate as nearly as
practicable the benefits granted to Provider hereunder (subject in each case to the terms and provisions of this Agreement). 
 (e) Any
shares of Common Stock issues pursuant this Agreement shall be considered “Shares” and “Registrable Securities” as those terms are defined in the Stockholders’ Agreement (as defined below) and the issuance by
the Company of such Common Stock shall be subject to the execution and delivery by Provider of a joinder to the Stockholders’ Agreement in the form required thereby. 

(f) Any Common Stock to be issued in connection with any Tranche of Restricted Stock Units shall be issued and delivered to Provider as soon
as possible following the Vesting Event, but in no event later than March 15 of the calendar year following the calendar year in which the Vesting Event occurred. 

4. Provider’s Representations and Warranties. 

Provider represents and warrants to Company that, as of the date hereof: 

(a) The execution and delivery of this Agreement by the Provider and the performance by Provider of the covenants and obligations contemplated
hereunder are not in violation or breach of, do not and will not (with or without the passage of time or the giving of notice) conflict with or constitute a default under, and will not accelerate or permit the acceleration of the performance
required by, any material agreement to which Provider is a party or by which Provider or any of its assets is bound or under any law applicable to Provider. 

(b) Provider will perform the services hereunder diligently and in a professional, first class manner consistent with general industry
standards and practices and will comply with all applicable laws, rules, regulations and standards in completing such services. 

 (c) Subject to last paragraph of this Section 4, to the best of Provider’s
knowledge, no materials delivered or otherwise furnished by Provider hereunder, including without limitation, all graphics, music, sound, images, files, photos, animation, artwork, text, data, information, messages, hypertext links, scripts, and all
other dramatic, artistic, literary, and musical materials, ideas and other intellectual properties furnished or selected by Provider or any third party engaged by Provider, and contained in or used in connection with the transactions contemplated
hereby or Provider’s social media posts or the distribution, advertising, publicizing or other use or exploitation thereof, will infringe the rights of any third party. 

(d) To the best of Provider’s knowledge, Provider shall refrain from using any material in any content provided to Company that would
cause Company to be required to pay any fee to a third party or to incur any cost without the Company’s consent (including, without limitation, any union or guild payments (other than SAG payments, which shall be the Company’s
responsibility)). 
 Notwithstanding the foregoing, the Company shall be responsible for paying or satisfying has obtained all third party
rights, licenses, permissions and/or clearances required for the worldwide production, distribution, exhibition and exploitation of materials that the Company desires to use that Provider notifies the Company he does not own. 

5. Company Representations and Warranties. 

Company represents and warrants to Provider that, as of the date hereof: 

(a) Organization and Capitalization. The Company is a corporation, duly organized, validly existing and in good standing under the laws
of the State of Delaware with the power and authority to own its assets and operate its business. Schedule 5.4 of the Issuer Disclosure Schedule to that certain Share Purchase Agreement, of even date herewith (in connection with which, among other
things, the Company is issuing on the date hereof shares of its capital stock (the “Share Purchase Agreement”), sets forth a true and correct schedule of all of the outstanding equity interests in the Company as of the date hereof,
as well as all of the options, convertible securities and other rights to acquire or commitments to issue equity interests in the Company (other than the Restricted Stock Units and other rights to acquire or commitments to issue equity interests in
the Company pursuant to the Share Purchase Agreement). The shares of Common Stock issuable by the Company hereunder have been duly authorized and, when issued and delivered in accordance with the terms of this Agreement, will be validly issued,
fully paid and non-assessable, and the issuance of such shares will not be subject to any preemptive or similar rights. 

(b) Authority. The Company has full legal right, power and authority to enter into and perform its obligations under this Agreement.
This Agreement has been duly authorized by all necessary corporate action on the part of the Company and, assuming due authorization, execution and delivery hereof by Provider, constitutes the binding and enforceable obligation of the Company in
accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar Laws affecting the enforcement of creditors’ rights generally and general principles of
equity. 

 (c) No Conflict. The execution and delivery of this Agreement by the Company, the
performance by it of the covenants and obligations contemplated hereunder, and the consummation by it of the transactions described hereunder, are not in violation or breach of, do not and will not (with or without the passage of time or the giving
of notice) conflict with or constitute a default under, and will not accelerate or permit the acceleration of the performance required by, any of the terms or provisions of the Company’s organizational documents or any material contract to
which the Company or any Subsidiary is a party or by which the Company, any Subsidiary or any of its or their assets is bound, or under any law or governmental order applicable to the Company or any Subsidiary, and do not require consent or approval
from any Person. 
 6. Term and Termination. 

This Agreement shall become effective on the Effective Date and continue for a period of five (5) years (the “Term”).
Notwithstanding the foregoing, the Term shall end prior to the expiration of such period, upon (a) the occurrence of a Cause Event and (b) Provider’s delivery of notice upon the occurrence of a Deemed Liquidation Event. 

7. Definitions. 
 (a)
“Anti-Prestige Activity” means (a) performance in any pornographic media (including without limitation, pornographic films), or (b) consumption of illegal drugs (provided this clause (b) shall not apply to activities
in connection with Provider’s movie/TV roles). 
 (b) “Average Trading Price” means, if the Common Stock of the
Company is then Publicly Traded, on any date, the average of the Closing Prices of the Common Stock over the twenty (20) Trading Day period ending prior to such date. 

(c) “Cause Event” shall mean the occurrence of any of the following, whether such event occurs or is first made public during
the Term: 
 (i) any material breach by Provider of this Agreement which is not cured within thirty (30) days
following written notice by Company to Provider of such breach; 
 (ii) conviction of, or a plea of “guilty”
or “no contest” to, a felony under the laws of the United States, or any State, if such felony involves moral turpitude and materially impairs Provider’s ability to perform the services hereunder; or 

(iii) Provider engaging in any Anti-Prestige Activities. 

 (d) “Charter” means the Amended and Restated Certificate of Incorporation
of the Company (as the same may be further modified, amended or restated in accordance with the provisions thereof). 
 (e) “Closing
Price” means, when used with respect to the Common Stock and for any date, the last sale price, regular way, or, in case no such sale takes place on such day, the average of the closing bid and asked prices, regular way, in either case, as
reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the NYSE or, if the Common Stock is not listed or admitted to trading on the NYSE, as reported in the principal
consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Common Stock is listed or admitted to trading. 

(f) “Common Stock” has the meaning given to such term in the Charter; provided that, in the event the Common Stock is
converted or exchanged into Equity Securities of a Subsidiary of the Company in connection with any reorganization, recapitalization, reclassification, consolidation or merger in connection with the initial public offering of the Equity Securities
of such Subsidiary, the Equity Security into which such Common Stock is converted or exchanged. 
 (g) “Company Equity
Value” means (i) with respect to a Deemed Liquidation Event or Financing Transaction, the aggregate equity value of all of the Equity Interests of the Company (assuming conversion or exercise of all Derivative Securities) as determined
in accordance with GAAP and with reference to such event and (ii) at any time when the Common Stock is Publicly Traded, the aggregate value of all of the Equity Interests of the Company and its Subsidiaries (assuming conversion or exercise of
all Derivative Securities) based on the Average Trading Price of the Common Stock. 
 (h) “Deemed Liquidation Event” shall
have the meaning given to that term in the Charter. 
 (i) “Derivative Securities” means any securities or rights
convertible into, or exercisable or exchangeable for (in each case, directly or indirectly), Equity Interests, including options and warrants. 

(j) “Equity Interest” means, with respect to any Person, any share of capital stock of (or other ownership or profit
interests in) such Person, any warrant, option or other right for the purchase or other acquisition from such Person of any share of capital stock of (or other ownership or profit interests in) such Person, any security convertible into or
exchangeable for any share of capital stock of (or other ownership or profit interests in) such Person or warrant, right or option for the purchase or other acquisition from such Person of such shares (or such other interests), and any other
ownership or profit interest in such Person (including, without limitation, partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such share, warrant, option, right or other interest is authorized or
otherwise existing on any date of determination. 
 (k) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 

 (l) “Financing Transaction” a transaction involving the sale, issuance or
redemption of Equity Securities by the Company or a Subsidiary thereof, including any initial public offering. 
 (m)
“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. 
 (n) “Publicly Traded” means that the Common Stock is listed or traded on a national securities
exchange or over the counter. 
 (o) “Subsidiary” of any Person shall mean any corporation or other entity of which a
majority of the voting power of the voting Equity Interests are owned, directly or indirectly, by such Person. 
 (p) “Trading
Day” means any day on which an Equity Interest is traded on the principal securities exchange or securities market on which it is then listed or traded. 

(q) “Vesting Event” shall mean (i) a Deemed Liquidation Event, (ii) the closing of a Financing Transaction, or
(iii) at any time that the Common Stock is Publicly Traded, the Company Equity Value exceeding an applicable threshold set forth in Section 3(a). 

8. Indemnification. 
 (a)
Provider shall indemnify, defend and hold Company (“Company Indemnified Parties”) harmless from any claim, damage, loss, liability, cost or expense (including reasonable third party counsel fees and disbursements of counsel)
resulting or arising from any material breach by Provider of any of his representations, warranties or covenants set forth in this Agreement. The Company Indemnified Parties shall promptly notify Provider of any claim, and reasonably cooperate with
Provider in the defense or settlement of such claim; provided that, no delay in notification shall affect Provider’s indemnification obligations except to the extent such delay prejudices Provider’s ability to defend such claim. Provider
shall have the right to select counsel (reasonably acceptable to Company) and to defend any/or settle such claim, provided that any such settlement includes a full release for the Company Indemnified Parties. 

(b) Company shall indemnify, and defend and hold Provider, Provider’s affiliates, Provider, and their respective successors, assigns,
representatives, employees, officers, and other agents (“Provider Indemnified Parties”) harmless from any claim, damage, loss, liability, cost or expense (including reasonable third party counsel fees and disbursements of counsel)
resulting or arising from (i) the distribution or licensing of the Products, (ii) any alleged defect in the Products or its implementation, (iii) any material breach by Company of the provisions of any of its representations,
warranties or covenants set forth in this Agreement, or (iv) the provision of services pursuant to this Agreement except to the extent that Company is entitled to be indemnified in respect thereof pursuant to Section 8(a) above. The
Provider Indemnified Parties shall promptly notify Company of such claim, and reasonably cooperate with Company in the defense or settlement of such 

 claim; provided that, no delay in notification shall affect Company’s indemnification obligations
except to the extent such delay prejudices Company’s ability to defend such claim. Company shall have the right to select counsel (reasonably acceptable to Provider) and to defend any/or settle such claim, provided that any such settlement
includes a full release for the Provider Indemnified Parties. 
 9. Insurance. 

Company shall maintain in full force and effect during the Term, with a reputable insurance carrier, a general liability insurance policy with
a limit of liability of not less than US $2,000,000 and an umbrella policy with a limit of liability of not less than US $5,000,000. Provider will be named as an additional insured under these policies. Nothing in this Section 9 is intended to
limit or affect the indemnification provisions of Section 8(a) above. 
 10. Benefit and Assignment. 

Except as otherwise provided in this Section 10, this Agreement shall be binding upon and inure to the benefit of the Parties hereto and
their respective successors and permitted assigns. No Party may assign all or any part of its rights or obligations under this Agreement to any Person without the prior written consent of the other Parties, which consent may be given or withheld in
the sole discretion of the other Parties. 
 11. No Third Party Rights. 

This Agreement is entered into among the Parties for the exclusive benefit of the Parties and their successors and permitted assignees. Except
as provided herein, this Agreement is expressly not intended for the benefit of any creditor of the Parties or any other Person. 
 12.
Force Majeure. 
 (a) All incidents of force majeure, being circumstances beyond the reasonable control of any Party and which have, or may
have, a material effect on the ability to perform under this Agreement, including, but not limited to, failure of power or other utility supplies; fire; flood; earthquake; other natural disaster; explosion; riot, strike or lockout of that
party’s work force; civil insurrection or unrest; terrorist activity; war (whether war be declared or not); and laws, regulations and acts of any governmental, transnational or local authority (“Force Majeure”), shall for the
duration and to the extent of the effects caused thereby release the Parties from the performance of their contractual obligations hereunder. A Party who has suffered a Force Majeure event shall notify the other Party without delay of any such
incident(s). 
 (b) Each Party shall take all reasonable steps to avoid or restrict Force Majeure events and to mitigate any loss therefrom.

 (c) In the event of an incident or incidents of Force Majeure, the Parties shall as soon as reasonably possible resume performance of
their obligations hereunder. 

 13. Notices. 

All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given:
(a) upon personal delivery to the party to be notified, (b) when sent by confirmed facsimile if sent during normal business hours of the recipient, (c) seven days after having been sent by registered or certified mail, return receipt
requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their
address as set forth below, or to such e-mail address, facsimile number or address as subsequently modified by written notice given in accordance with this Section 13. Notices shall be sent as follows:

 If to Provider: 
 Mark
Wahlberg 
 c/o Cortina Business Management 

PO Box 610287 
 Newton, MA 02461

 Attention: Rose Cortina 

Fax: (617) 454-1126 

with a copy to: 
 Sloane, Offer,
Weber and Dern, LLP 
 10100 Santa Monica Blvd., Suite 750 

Los Angeles, CA 90067 
 Attn:
Jason Sloane, Esq. 
 Fax: (310) 248-3501 

and 
 Irell & Manella LLP

 1800 Avenue of the Stars, Suite 900 

Los Angeles, CA 90067 
 Fax (310) 203-7199 
 Attn: Rick Wirthlin, Esq. 

If to Company: 
 F45 

30 Alma Street 
 Paddington, NSW

 Australia 
 Attention: Elliot
Capner, COO 

 with a copy to: 

Baker & McKenzie LLP 

300 Randolph Street 
 Suite 5000

 Chicago, Illinois 60601 

Attention: David Malliband 

Andrew J. Warmus 
 Fax:
         (312) 698-2264 
 14. Amendment; Waiver. 

No modification of or amendment to this Agreement shall be valid unless in a document signed by both Parties hereto and referring specifically
to this Agreement and stating the Parties’ intention to modify or amend the same. Any waiver of any term or condition of this Agreement must be in a document signed by the Parties sought to be charged with such waiver referring specifically to
the term or condition to be waived, and no such waiver shall be deemed to constitute the waiver of any other breach of the same or of any other term or condition of this Agreement. 

15. Severability and Modification. 

Each provisions and term of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any
provision or term of this Agreement shall be held to be prohibited by or invalid under such applicable law, then, such provision or term shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or affecting in
any manner whatsoever the remainder of such provisions or term or the remaining provisions or terms of this Agreement. 
 16. Governing Law
and Dispute Resolution. 
 THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA
APPLICABLE TO AGREEMENTS MADE AND TO BE WHOLLY PERFORMED WITHIN THAT STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW THEREUNDER. EACH PARTY AGREES THAT, IN CONNECTION WITH ANY LEGAL SUIT OR PROCEEDING ARISING OUT OF OR WITH RESPECT TO THIS
AGREEMENT, IT SHALL SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND STATE COURTS LOCATED IN LOS ANGELES COUNTY, CALIFORNIA AND BY EXECUTING THIS AGREEMENT AGREES TO VENUE IN SUCH COURTS AND CONSENTS TO SUCH COURTS’ JURISDICTION. PROCESS
IN ANY SUIT OR PROCEEDING REFERRED TO IN THE PRECEDING SENTENCE MAY BE SERVED ON ANY PARTY ANYWHERE IN THE WORLD. 
 17. Independent
Contractor. 
 In rendering the services to be rendered by Provider hereunder, Provider shall be an independent contractor. Nothing
contained herein shall be deemed to constitute either Provider as the partner or agent of Company or Company as the partner or agent of Provider. Neither Company nor Provider shall have the power or authority to bind the other with respect to third
parties or to represent to third parties that they have such authority. The Parties acknowledge that nothing in this Agreement constitutes Provider as an employee of Company. 

 18. Entire Agreement; Further Assurances. 

This Agreement together with Exhibit A attached hereto, constitutes the entire agreement and understanding between and among the
Parties with respect to the subject matter hereof, and supersedes any other prior written or oral agreement or understandings between and among the Parties with respect to the subject matter hereof. Each Party shall, at the other Party’s
request, execute and deliver such instruments or take such other actions as may be reasonably requested to effectively carry out the terms and provisions of this Agreement. 

19. Counterparts. 
 This
Agreement may be executed in two or more counterparts (and may be executed and delivered via facsimile in two or more counterparts), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 20. Titles and Subtitles; Construction. 

The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this
Agreement. All words used in this Agreement will be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided, the word “including” does not limit the preceding words or terms. 

21. Joint Draft. 
 The Parties
have participated jointly in the drafting of this Agreement. If an ambiguity or question of intent or interpretation should arise, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall
arise favoring or burdening any Party by virtue of the authorship of any of the provisions of this Agreement. 
 22. 409A 

The parties intend that this Agreement and the benefits provided hereunder be interpreted and construed to be exempt from or to otherwise
comply with Internal Revenue Code (the “Code”) Section 409A to the extent applicable thereto. Notwithstanding any provision of this Agreement to the contrary, this Agreement shall be interpreted and construed consistent with this
intent, provided that the Company shall not be required to assume any increased economic burden in connection therewith. Although the Company intends to administer this Agreement so that it will be exempt from or otherwise comply with the
requirements of Code Section 409A, the Company does not represent or warrant that this Agreement will be exempt form or otherwise comply with Code Section 409A or any other provision of federal, state, local, or non-United States law. Neither the Company, its affiliates, nor their respective directors, officers, employees or advisers shall be liable to 

 Provider (or any other individual claiming a benefit through Provider) for any tax, interest, or penalties
Provider may owe as a result of compensation or benefits paid under this Agreement, and the Company and its affiliates shall have no obligation to indemnify or otherwise protect Provider from the obligation to pay any taxes pursuant to Code
Section 409A or otherwise. 
 [THE REMAINDER OF THIS PAGE IS BLANK] 

 [SIGNATURE PAGE TO PROMOTIONAL AGREEMENT] 

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

 

			
	F45 TRAINING HOLDINGS INC.

			
		
	By:	 	/s/ Michael Raymond

			
	Name: Michael Raymond
	Its: President

  

	
	/s/ Mark Wahlberg
	Mark Wahlberg

 EXHIBIT A 

Standard Terms 
 The following standard
terms are hereby incorporated into the Promotional Agreement: 
  

	 	A.	 Exclusivity. 

  

	 	a.	 Subject to clause c below, during the Term, Provider shall not, directly or indirectly, authorize (nor has
Provider authorized, prior to the Term, which authority is still in effect) the use of Provider’s name, picture, image, voice, likeness, signature and/or biographical information, nor will Provider render any services, post about, sponsor,
promote, give any testimonials or endorsements in any advertising in any medium, nor engage in any promotional, marketing, endorsement or activities, in connection with any product/service competitive with the Products (collectively,
“Competitive Products”), defined as follows: fitness training business (home or traditional); class-focused fitness centers; group fitness classes; personal fitness training franchises; gym services; resistance training; yoga;
pilates; cycling; dance fitness classes; martial or mixed martial arts-based fitness training; boxing-based fitness training; fitness bootcamps. By way of example only, the following gym or fitness service providers are considered Competitive
Products: CrossFit, Orange Theory, Barry’s Bootcamp, Soul Cycle, Fly Wheel, Planet Fitness, Anytime Fitness, Equinox, Training Mate, Mirror, Jazzercise and Les Mills. 

 

	 	b.	 Subject to clause c below, during the Term, Provider shall not, directly or indirectly, do the following:

  

	 	i.	 Divert, or attempt to divert, any business or customer of the Company or its affiliates to any competitor; or

  

	 	ii.	 Unless released in writing by the employer, employ or seek to employ any person who is at that time employed by
the Company or its affiliates, or otherwise directly or indirectly induce such person to leave his or her employment. 

  

	 	c.	 Notwithstanding anything to the contrary in these Standard Terms or in the Promotional Agreement:

  

	 	i.	 Nothing shall limit Provider’s right to appear (i) in any of the entertainment fields or in the
entertainment, news or informational portion of any program, film, publication or other production or live event, regardless of the media through which such program, film, publication or other production or live event is exhibited, and/or
(ii) in connection with the advertising, promotion, merchandising and/or publicity materials therefor, regardless of sponsorship or products or services used therein. 

  
 - 16 - 

	 	ii.	 For the avoidance of doubt, (i) Provider may appear as a participant or guest at events, regardless of
sponsorship or products used therein (e.g., Provider may participate in charity events and appear on a guest line or “red carpet” containing a backdrop with names of Competitive Products); (ii) Provider may appear in purely editorial
material (e.g., a magazine spread) which uses and/or credits Competitive Products; (iii) Provider may appear in advertising and/or promotional materials for other products, which materials contain the incidental appearance of Competitive
Products; and (iv) nothing herein or in the Promotional Agreement shall prevent Provider’s passive investment in any enterprise, product or service whatsoever. 

 

	 	iii.	 For the further avoidance of doubt, paparazzi and other press footage and photographs containing Competitive
Products shall not be deemed a breach hereunder. 

  

	 	iv.	 Notwithstanding anything to the contrary herein or in the Promotional Agreement, nothing shall limit the use of
Provider’s name, picture, image, voice, likeness, signature, biographical information and/or services in connection with the following and their commercial partners: (i) any non-profit youth sports
initiatives of the Mark Wahlberg Youth Foundation; and/or (ii) any nutritional and/or ingestible products (including, without limitation, Performance Inspired and Aquahydrate). 

 

	 	B.	 Grant of Rights. 

  

	 	a.	 Creative Ownership. Subject to clause c below, the ownership of all designs, products,
intellectual property, promotional and digital materials, and all any and all rights whether now known or hereafter devised in and to the results and proceeds of Provider’s services hereunder, including, without limitation, any contributions
Provider makes in connection with any of the foregoing are the sole property of the Company. All results and proceeds of every kind of services heretofore and hereafter to be rendered by Provider in connection with the Products, including without
limitation, all ideas, suggestions, themes, titles and other material, whether in writing or not in writing, at any time heretofore or hereafter created or contributed by Provider which in any way relate to the Products (collectively referred to as
the “Work”) was or will be created as a work-for-hire for Company. The Work was specifically commissioned by Company and, as such, is a “work-made-for-hire” as such term is used in the United States Copyright Act, and Company is and shall be deemed the author thereof. Provider acknowledges that
Company, as the author of the work, is the sole and exclusive owner of all rights in and to the Work and is entitled to the copyrights (and all extensions and renewals of copyrights) therein and thereto, with the right to make such changes therein
and such uses thereof as Company may determine. To the extent the foregoing may, for any reason, not vest in 

  
 - 17 - 

	 	Company, all rights of every kind, in all media whether now or hereafter known, in perpetuity throughout the universe, Provider hereby assigns the same to Company. Provider hereby waives all rights of droit moral
or “moral rights of the author” or any similar rights or principles at law which Provider may now or later have in the Work. 

  

	 	b.	 Use of Provider’s Name and Likeness. Subject to the Company’s compliance in each case with the
restrictions and requirements set forth in the Promotional Agreement (including Provider’s approval and consent rights), Provider grants to Company the worldwide, non-exclusive, royalty free, fully paid
up, irrevocable, right and license to use, publicly display, publicly perform, reproduce, broadcast, amplify, whitelist, transmit, exhibit, disseminate and distribute Provider’s name, image, and likeness in connection with the promotion of the
Products during the Term. 

  

	 	c.	 Provider Retention of Rights. Except for the limited license expressly provided in the Promotional Agreement
and in these Standard Terms, Provider retains all worldwide rights in Provider’s name, likeness, voice, and image. 

C. Approvals. Company shall approve all social media posts prior to upload by Provider. Provider will submit all promotional social media
posts to Company for approval a reasonable time before posting, and Company shall review such posts and provide feedback to Provider. Provider shall use reasonable efforts to incorporate such feedback into his posts. Provider shall resubmit the
content to Company for review, and Company shall be entitled to additional rounds of feedback until the content is approved by Company for posting. For the avoidance of doubt, Provider shall not post any content in connection with this Agreement
without the prior written approval of Company. Company shall not use Provider’s name and likeness on any assets or marketing materials related to the Products and/or Provider’s affiliation with the Products (including use of previously
approved items in connection with a new use or context) without Provider’s prior written approval. 
 D. Confidentiality. 

i. Provider will not disclose any trade secrets or confidential information of Company or its affiliates obtained by Provider hereunder to any
third parties, Provider’s relationship with the Company (until publicly disclosed by the Company), and any of the terms of this Agreement. Nothing contained in this paragraph shall prevent Provider from disclosing (i) any information, on a
need-to-know and confidential basis, to Provider’s business and legal representatives or (ii) any information required to be disclosed by law or legal process.

 ii. The Company will not disclose (and shall cause its directors, officers, employees, contractors and affiliates not to disclose)
any Provider Confidential Information (as defined below). Nothing contained in this paragraph shall prevent Company from disclosing (i) any information, on a
need-to-know and confidential basis, to Company’s business and legal representatives or (ii) any information 

  
 - 18 - 

 required to be disclosed by law or legal process. “Provider Confidential
Information” shall mean information, which is confidential in nature and/or of great value to Provide and shall include, without limitation, (a) personal information or matters about Provider, his family, friends, representatives and
employees; (b) business, financial, medical, legal or contractual matters of or pertaining to Provider and/or Provider’s business entities and their respective officers, directors, shareholders and employees (hereinafter, the foregoing
referenced persons and entities are all collectively referred to as “Provider Related Parties”); (c) any other private and confidential matters concerning Provider or any of the Provider Related Parties; and
(d) information pertaining to the terms of this Agreement. 

  
 - 19 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]