Document:

EX-10.14

 Exhibit 10.14 

FORM OF PERFORMANCE OPTION AGREEMENT 

Dear [Participant Name]: 

Pursuant to the 2020 Employee Stock Plan (the “Plan”) of The Madison Square Garden Company (formerly known as MSG
Entertainment Spinco, Inc.) (the “Company”), on [Date] (the “Effective Date”) you have been awarded nonqualified options (the “Options”) to purchase shares of the Company’s Class A Common
Stock, par value $.01 per share (“Class A Common Stock”) at a price of $         per share. The Award is granted subject to the terms and conditions set forth below
and in the Plan. 
 Capitalized terms used but not defined in this agreement (this “Agreement”) have the meanings given to
them in the Plan. The Options are granted subject to the terms and conditions set forth below: 

1.    Vesting. In accordance with the terms of this Agreement, a target of
             Options (the “Target Award”), and a maximum of              Options, will vest and
become exercisable, which number of Options will be determined based on the extent to which the performance criteria (the “Objectives”) set forth in Appendix 1 to this Agreement have been attained in respect of the period
from July 1,          to June 30,          (the “Performance Period”). The Options, calculated in accordance with
Appendix 1, will vest [on             , subject to the determination by the Committee (as defined in Section 5(A) below) of the Company’s performance against
the Objectives][upon the date on which the Committee (as defined in Section 5(A) below) determines the Company’s performance against the Objectives] (the “Vesting Date”), and any Options that do not so vest shall be
immediately and automatically forfeited as of the Vesting Date; provided that you have remained in the continuous employ of the Company or one of its Subsidiaries from the Effective Date through the Vesting Date. 

2.    Exercise. You may exercise the Options that become vested and exercisable by following such procedures as
established by the Company, specifying the number of shares of Class A Common Stock as to which the Options are being exercised (the “Exercise Notice”). Unless the Compensation Committee of the Board of Directors of the Company
(the “Committee”) chooses to settle such exercise in cash, shares of Class A Common Stock, or a combination thereof pursuant to Paragraph 3, you will be required to deliver to the Company, or such person as the Company may
designate, within such time period as the Company may require, payment in full of the exercise price and any taxes due on account of such exercise. 

3.    Option Spread. Upon receipt of the Exercise Notice, the Committee may elect, in lieu of issuing shares of
Class A Common Stock, to settle the exercise covered by such notice by paying you an amount equal to the product obtained by multiplying (i) the excess of the Fair Market Value of one (1) share of Class A Common Stock on the date
of exercise over the per share exercise price of the Options (the “Option Spread”) by (ii) the number of shares of Class A Common Stock specified in the Exercise Notice. The amount payable to you in these circumstances may
be paid by the Company either in cash or in shares of Class A Common Stock having a Fair Market Value equal to the Option Spread, or a combination thereof, as the Company shall determine. Class A Common Stock used to pay the Option Spread
pursuant to this Paragraph 3 will be valued at the Fair Market Value as of the day the Exercise Notice is received by the Company. 

  
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 4.    Expiration. The Options will terminate automatically and
without further notice on             , or at any of the following dates, if earlier: 

(A)    with respect to those Options which are then unexercisable, the date upon which you are no longer employed by the
Company or any of its Subsidiaries, unless as a result of your death, in which case a number of your Options granted under this Agreement shall become immediately exercisable as follows: [(1)] if your employment terminates due to your death prior to
            , then a portion of the Target Award, determined based on the number of months of your employment completed prior to such termination during the period commencing on
             and ending on             , will vest as of the termination date [or (2) if your employment
terminates due to your death after              but prior to the Vesting Date, then the number of Options that would have vested on the Vesting Date had your employment not been so
terminated shall vest as of the termination date]; 
 (B)    with respect to those Options which are then exercisable,
(1) in the event of a termination of your employment by the Company or its Subsidiary without Cause (other than due to your Disability) or your resignation of employment from the Company and its Subsidiaries (other than due to Retirement, in
which case the Options will remain exercisable until             ), ninety (90) days following the date upon which you are no longer employed by the Company or any of its
Subsidiaries or (2) in the event of your death or a termination of your employment with the Company and its Subsidiaries due to Disability, the first anniversary of your death or the date upon which you are no longer employed by the Company or
any of its Subsidiaries, as applicable; or 
 (C)    with respect to all your then outstanding Options, whether
exercisable or unexercisable, the date upon which your employment with the Company is terminated for Cause. 

5.    Definitions. For purposes of this Agreement: 

(A)    “Cause” means, as determined by the Committee, your (i) commission of an act of fraud,
embezzlement, misappropriation, willful misconduct, gross negligence or breach of fiduciary duty against the Company or an Affiliate, or (ii) commission of any act or omission that results in a conviction, plea of no contest, plea of nolo
contendere, or imposition of unadjudicated probation for any crime involving moral turpitude or any felony. 

(B)    “Disability” means your inability to perform for six (6) continuous months substantially all
the essential duties of your occupation, as determined by the Committee. 
 (C)    “Retirement” means
the voluntary termination by you of your employment with the Company and its Subsidiaries at such time as (i) you have attained at least the age of fifty-five (55) and (ii) you have been employed by the Company or MSG Sports Inc.
(formerly known as The Madison Square Garden Company) or their respective Subsidiaries for at least five (5) years in the aggregate, provided that the Company may nevertheless decide, in its sole discretion, not to treat your termination
of employment as a “Retirement” hereunder. 

  
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Treatment of your termination of employment as a “Retirement” hereunder shall be further subject to your execution (and the effectiveness) of a “retirement agreement” to the
Company’s satisfaction, including, without limitation (to the extent desired by the Company), non-compete, non-disparagement,
non-solicitation, confidentiality and further cooperation obligations/restrictions on you as well as a general release by you of the Company and its Subsidiaries. The above definition of “Retirement”
is solely for purposes of this Agreement and shall not, in any way, create or imply any obligations of the Company or any of its Subsidiaries (under any other agreement or otherwise) with respect to any such termination of your employment. 

6.    Change of Control/Going Private Transaction. As set forth in Appendix 2 attached
hereto, the Options may be affected in the event of a Change of Control or a going private transaction (each as defined in Appendix 2 attached hereto) of the Company. 

7.    Tax Representations and Tax Withholding. You hereby acknowledge that you have reviewed with your own tax
advisors the federal, state and local tax consequences of exercising the Options and receiving shares of Class A Common Stock and cash. You hereby represent to the Company that you are relying solely on such advisors and not on any statements
or representations of the Company, its Affiliates or any of their respective agents. If, in connection with the exercise of the Options, the Company is required to withhold any amounts by reason of any federal, state or local tax, such withholding
shall be effected in accordance with Section 16 of the Plan. 
 8.    Section 409A. It is
the Company’s intent that payments under this Agreement are exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and that the Agreement be administered accordingly. Notwithstanding
anything to the contrary contained in this Agreement, if and to the extent that any payment or benefit under this Agreement is determined by the Company to constitute “non-qualified deferred
compensation” subject to Section 409A of the Code (“Section 409A”) and is payable to you by reason of your termination of employment, then (a) such payment or benefit shall be made or provided to
you only upon a “separation from service” as defined for purposes of Section 409A under applicable regulations and (b) if you are a “specified employee” (within the meaning of Section 409A and as determined by the
Company), such payment or benefit shall not be made or provided before the date that is six months after the date of your separation from service (or your earlier death). 

9.    Transfer Restrictions. You may not transfer, assign, pledge or otherwise encumber the Options, other than to
the extent provided in the Plan. 
 10.    Non-Qualification as ISO. The
Options are not intended to qualify as “incentive stock options” within the meaning of Section 422A of the Code. 

11.    Securities Law Acknowledgments. You hereby acknowledge and confirm to the Company that (i) you are
aware that the shares of Class A Common Stock are publicly-traded securities and (ii) the shares of Class A Common Stock issuable upon exercise of the Options may not be sold or otherwise transferred unless such sale or transfer is
registered under the Securities Act of 1933, as amended, and the securities laws of any applicable state or other jurisdiction, or is exempt from such registration. 

  
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 12.    Governing Law. This Agreement shall be deemed to be made
under, and in all respects shall be interpreted, construed and governed by and in accordance with, the laws of the State of New York. 

13.    Jurisdiction and Venue. You hereby irrevocably submit to the jurisdiction of the courts of the State of New
York and the Federal courts of the United States of America located in the Southern District and Eastern District of the State of New York in respect of the interpretation and enforcement of the provisions of this Agreement, and hereby waive, and
agree not to assert, as a defense that you are not subject thereto or that the venue thereof may not be appropriate. You hereby agree that mailing of process or other papers in connection with any such action or proceeding in any manner as may be
permitted by law shall be valid and sufficient service thereof. 
 14.    Right of Offset. You hereby agree that
the Company shall have the right to offset against its obligation to deliver shares of Class A Common Stock, cash or other property under this Agreement to the extent that it does not constitute
“non-qualified deferred compensation” pursuant to Section 409A, any outstanding amounts of whatever nature that you then owe to the Company or a Subsidiary of the Company. 

15.    The Committee. For purposes of this Agreement, the term “Committee” means the Compensation
Committee of the Board of Directors of the Company or any replacement committee established under, and as more fully defined in, the Plan. 

16.    Committee Discretion. The Committee has full discretion with respect to any actions to be taken or
determinations to be made in connection with this Agreement, and its determinations shall be final, binding and conclusive. 

17.    Amendment. The Committee reserves the right at any time to amend the terms and conditions set forth in this
Agreement, except that the Committee shall not make any amendment or revision in a manner unfavorable to you (other than if immaterial), without your consent. No consent shall be required for amendments made pursuant to Section 12 of the Plan,
except that, for purposes of Section 19 of the Plan, Section 6 and Appendix 2 of this Agreement are deemed to be “terms of an Award Agreement expressly referring to an Adjustment Event.” Any amendment
of this Agreement shall be in writing and signed by an authorized member of the Committee or a person or persons designated by the Committee. 

18.    Options Subject to the Plan. The Options granted by this Agreement are subject to the Plan. 

19.    Entire Agreement. Except for any employment agreement between you and the Company or any of its Affiliates
in effect as of the date of the grant hereof (as such employment agreement may be modified, renewed or replaced, provided that such modification, renewal or replacement shall not extend the time any Options may be exercised beyond the time
provided herein or in such original employment agreement), this Agreement and the Plan constitute the entire understanding and agreement of you and the Company with respect to the 

  
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Options covered hereby and supersede all prior understandings and agreements. In the event of a conflict among the documents with respect to the terms and conditions of the Options covered
hereby, the documents will be accorded the following order of authority: the terms and conditions of the Plan will have highest authority followed by the terms and conditions of your employment agreement, if any, followed by the terms and conditions
of this Agreement. 
 20.    Successors and Assigns. The terms and conditions of this Agreement shall be binding
upon, and shall inure to the benefit of, the Company and its successors and assigns. 
 21.    Waiver. No waiver
by the Company at any time of any breach by you of, or compliance with, any term or condition of this Agreement or the Plan to be performed by you shall be deemed a waiver of the same, any similar or any dissimilar term or condition at the same or
at any prior or subsequent time. 
 22.    Severability. The terms or conditions of this Agreement shall be
deemed severable and the invalidity or unenforceability of any term or condition hereof shall not affect the validity or enforceability of the other terms and conditions set forth herein. 

23.    Exclusion from Compensation Calculation. By acceptance of this Agreement, you shall be considered in
agreement that all shares of Class A Common Stock and cash received upon each exercise of the Options shall be considered special incentive compensation and will be exempt from inclusion as “wages” or “salary” in pension,
retirement, life insurance and other employee benefits arrangements of the Company and its Subsidiaries. In addition, each of your beneficiaries shall be deemed to be in agreement that all such shares of Class A Common Stock and cash will be
exempt from inclusion in “wages” or “salary” for purposes of calculating benefits of any life insurance coverage sponsored by the Company or any of its Subsidiaries. 

24.    No Right to Continued Employment. Nothing contained in this Agreement or the Plan shall be construed to
confer on you any right to continue in the employ of the Company or any of its Subsidiaries, or derogate from the right of the Company or any Subsidiary, as applicable, to retire, request the resignation of, or discharge you, at any time, with or
without cause. 
 25.    Subsidiaries. For purposes of this Agreement, “Subsidiaries” shall
mean any entities that are controlled, directly or indirectly, by the Company, or in which the Company owns, directly or indirectly, more than 50% of the equity interests. 

26.    Headings. The headings in this Agreement are for purposes of convenience only and are not intended to define
or limit the construction of the terms and conditions of this Agreement. 
 27.    Effective Date. Upon execution
by you, this Agreement shall be effective from and as of the Effective Date. 
 28.    Signatures. Execution of
this Agreement by the Company may be in the form of an electronic, manual or similar signature (including, without limitation, an electronic acknowledgement of acceptance), and such signature shall be treated as an original signature for all
purposes. 

  
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	THE MADISON SQUARE GARDEN COMPANY
		
	By	 	  

		 	Name:
		 	Title:

 By your electronic acknowledgement of acceptance, you (i) acknowledge that a complete copy of the
Plan and an executed original of this Agreement have been made available to you and (ii) agree to all of the terms and conditions set forth in the Plan and this Agreement. 

  
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 APPENDIX 1 

TO 
 OPTION AGREEMENT 

  
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 APPENDIX 2 

TO 
 OPTION AGREEMENT 

1.    In the event of a “going private transaction,” as defined below, your entitlement to exercise the Options
shall be as follows: 
 a.    The Committee shall, no later than the effective date of the transaction which results in
a going private transaction, (1) if your Options are outstanding and not exercisable as of the date of the going private transaction, either (A) if the effective date of the going private transaction is before the end of the Performance
Period, deem the Objectives to be satisfied at the target level or (B) if the effective date of the going private transaction is on or after the last day of the Performance Period, determine the Company’s performance against the
Objectives, and (2) convert your Options, calculated in accordance with Appendix 1 and this paragraph, as applicable, into a right to receive an amount of cash equal to (a) the number of common shares subject or relating to such Options
multiplied by (b) the excess of (x) the “offer price per share,” the “acquisition price per share” or the “merger price per share,” each as defined below, whichever of such amounts is applicable, over
(y) the exercise price of the shares subject or relating to such Options. For the avoidance of doubt, Options for which the applicable amount in (x) exceeds the exercise price in (y) (i.e., Options which are “underwater”) may be
cancelled for no consideration as of the effective date of the going private transaction. 
 b.    The cash award
provided in Section 1(a)(i) or 1(b) shall become payable to you as follows: (1) if the Options are not exercisable on the effective date of the going private transaction, then the cash award shall become payable at the earlier of
(a) the date on which such Options would otherwise have become exercisable hereunder had they continued in effect, or (b) the date on which (i) your employment with the Company or the surviving entity is terminated by the Company or
the surviving entity other than for Cause, if such termination occurs within three (3) years of the going private transaction or (ii) your employment with the Company or the surviving entity is terminated by you for “good
reason,” as defined below, if such termination occurs within three (3) years of the going private transaction , or (2) if the Options are exercisable on the effective date of the going private transaction, then the cash award shall
become payable promptly. The amount payable in cash shall be payable together with interest from the effective date of the going private transaction until the date of payment at (a) the weighted average cost of capital of the Company
immediately prior to the effectiveness of the going private transaction, or (b) if the Company (or the surviving entity) sets aside the funds in a trust or other funding arrangement, the actual earnings of such trust or other funding
arrangement. 
 2.    In the event of a “Change of Control” of the Company, as defined below, (A) if your
Options are outstanding and not exercisable as of the date of the Change of Control, the Target Award will immediately vest, whether or not the Objectives have been attained and (B) your vested Options will either (i) be cancelled and you
will be entitled to prompt payment of an amount of cash determined in accordance with Section 1(a) above or (ii) if the Company or the Surviving Entity has shares of common stock (or partnership units) traded on a national stock

  
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exchange or on the over-the-counter market as reported on the New York Stock Exchange or any other stock exchange,
then the Committee may (in its discretion) arrange to have the surviving entity grant to you in substitution for such Options an award of options for shares of common stock (or partnership units) of the surviving entity on the same terms with a
value equivalent to such Options and which will, in the good faith determination of the Committee, provide you with an equivalent profit potential, as determined in a manner compliant with Section 409A. For the avoidance of doubt, Options which
are “underwater” may be cancelled for no consideration as of the consummation of the Change of Control. 

3.    As used herein, 

“Acquisition price per share” shall mean the greater of (i) the highest price per share stated on the Schedule 13D or any
amendment thereto filed by the holder of twenty percent (20%) or more of the Company’s voting power which gives rise to the Change of Control or going private transaction, and (ii) the highest fair market value per share of common stock
during the ninety-day period ending on the date of such Change of Control or going private transaction. 

“Going private transaction” means a transaction involving the purchase of Company securities described in Rule 13e-3 to the Securities and Exchange Act of 1934. 
 “Good reason” means 

(i)    without your express written consent any reduction in your base salary or bonus potential, or any material
impairment or material adverse change in your working conditions (as the same may from time to time have been improved or, with your written consent, otherwise altered, in each case, after the Effective Date) at any time after or within ninety
(90) days prior to a Change of Control, including, without limitation, any material reduction of your other compensation, executive perquisites or other employee benefits (measured, where applicable, by level or participation or percentage of
award under any plans of the Company), or material impairment or material adverse change of your level of responsibility, authority, autonomy or title, or to your scope of duties; 

(ii)    any failure by the Company to comply with any of the provisions of this Agreement, other than an insubstantial or
inadvertent failure remedied by the Company, promptly after receipt of notice thereof given by you; 
 (iii)    the
Company’s requiring you to be based at any office or location more than thirty-five (35) miles from your location immediately prior to such event except for travel reasonably required in the performance of your responsibilities; or 

(iv)    any failure by the Company to obtain the assumption and agreement to perform this Agreement by a successor as
contemplated by Paragraph 1 or Paragraph 2, if applicable. 
 “Merger price per share” shall mean, in the case of a
merger, consolidation, sale, exchange or other disposition of assets that results in a Change of Control or going private transaction (a “Merger”), the greater of (i) the fixed or formula price for the

  
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acquisition of shares of common stock occurring pursuant to the Merger, and (ii) the highest fair market value per share of common stock during the
ninety-day period ending on the date of such Change of Control or going private transaction. Any securities or property which are part or all of the consideration paid for shares of common stock pursuant to
the Merger shall be valued in determining the merger price per share at the higher of (A) the valuation placed on such securities or property by the Company, person or other entity which is a party with the Company to the Merger, or
(B) the valuation placed on such securities or property by the Committee. 
 “Surviving Entity” means the entity that
owns, directly or indirectly, after consummation of any transaction, substantially all of the Company’s assets (as constituted immediately prior to such transaction). If any such entity is at least majority-owned, directly or indirectly, by any
entity (a “parent entity”) which has shares of common stock (or partnership units) traded on a national stock exchange or the over-the-counter market, as
reported on the New York Stock Exchange or any other stock exchange, then such parent entity shall be deemed to be the Surviving Entity provided that if there shall be more than one such parent entity, the parent entity closest to ownership of the
Company’s assets shall be deemed to be the Surviving Entity. 
 “Offer price per share” shall mean, in the case of a
tender offer or exchange offer which results in a Change of Control or going private transaction (an “Offer”), the greater of (i) the highest price per share of common stock paid pursuant to the Offer, or (ii) the highest
fair market value per share of common stock during the ninety-day period ending on the date of a Change of Control or going private transaction. Any securities or property which are part or all of the
consideration paid for shares of common stock in the Offer shall be valued in determining the Offer Price per share at the higher of (A) the valuation placed on such securities or property by the Company, person or other entity making such
offer or (B) the valuation placed on such securities or property by the Committee. 
 “Change of Control” means the
acquisition, in a transaction or a series of related transactions, by any person or group, other than Charles F. Dolan or members of the immediate family of Charles F. Dolan or trusts for the benefit of Charles F. Dolan or his immediate family (or
an entity or entities controlled by any of them) or any employee benefit plan sponsored or maintained by the Company, of the power to direct the management of the Company or substantially all its assets (as constituted immediately prior to such
transaction or transactions). 

  
 10EX-10.40

 Exhibit 10.40 

TIME SHARING AGREEMENT 

THIS TIME SHARING AGREEMENT is entered into effective as of the __ day of _______, 20__, by and between MSG SPORTS & ENTERTAINMENT,
LLC (to be renamed MSG ENTERTAINMENT, LLC), a Delaware limited liability company with a place of business at 2 Penn Plaza, New York, New York 10121 (“Lessor”), and MSG SPORTS, LLC, a Delaware limited liability company with a
place of business at 2 Penn Plaza, New York, New York 10121 (“Lessee”). 

W I T N E S S E T H 

WHEREAS, Lessor is the lessee and the operator of a Gulfstream Aerospace G450 aircraft, manufacturer’s serial number 4179, United States
registration N919 AM (the “Aircraft”); and 
 WHEREAS, Lessor has engaged fully-qualified and credentialed flight crew to
operate the Aircraft; and 
 WHEREAS, Lessor has agreed to lease the Aircraft, with flight crew, to Lessee on a “time sharing”
basis as defined in Section 91.501(c)(1) of the Federal Aviation Regulations (“FAR”) upon the terms and subject to the conditions set forth herein; 

NOW, THEREFORE, in consideration of the foregoing premises, and the covenants and agreements set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which are acknowledged, Lessor and Lessee, intending to be legally bound, hereby agree as follows: 

1.    Lease of Aircraft. Lessor agrees to lease the Aircraft to Lessee pursuant to the provisions of FAR
Section 91.501(b)(6) and Section 91.501(c)(1) and this Agreement, and to provide a fully-qualified and credentialed flight crew for all flights to be conducted hereunder during the Term (as defined in Section 13) hereof. The parties
acknowledge and agree that this Agreement did not result in any way from any direct or indirect advertising, holding out or soliciting on the part of Lessor or any person purportedly acting on behalf of Lessor. Lessor and Lessee intend that the
lease of the Aircraft effected by this Agreement shall be treated as a “wet lease” pursuant to which Lessor provides transportation services to Lessee in accordance with FAR Section 91.501(b)(6) and Section 91.501(c)(1). 

2.    Payment for Use of Aircraft. Lessee shall pay Lessor the following listed actual expenses of each flight (the
“Reimbursement Amount”) conducted under this Agreement, not to exceed the maximum amount legally payable for such flight under FAR Section 91.501(d)(1)-(10): 
  

	 	(a)	 fuel, oil, lubricants and other additives; 

 

	 	(b)	 travel expenses of crew, including food, lodging and ground transportation; 

 

	 	(c)	 hangar and tie-down costs away from the Aircraft’s base of
operation; 

  

	 	(d)	 additional insurance obtained for the specific flight at the request of Lessee; 

 

	 	(e)	 landing fees, airport taxes and similar assessments; 

 

	 	(f)	 customs, foreign permit and similar fees directly related to the flight; 

 

	 	(g)	 in-flight food and beverages; 

 

	 	(h)	 in-flight telecommunication expenses; 

 

	 	(i)	 passenger ground transportation; 

 

	 	(j)	 flight planning and weather contract services; and 

 

	 	(k)	 an additional charge equal to 100% of the expenses listed in Section 2(a). 

 Lessee shall be obligated to pay Lessor the Reimbursement Amount for all occupied legs and
for deadhead flights to the extent attributable to flights under this Agreement. Lessor and Lessee agree to allocate in good faith the treatment of any flight or deadhead flight that may be for the joint benefit of Lessor and Lessee (e.g., involving
employees of both parties). 
 3.    Operational Control of Aircraft. Lessor and Lessee intend and agree that on
all flights conducted under this Agreement, Lessor shall have complete and exclusive operational control over the Aircraft, its flight crews and maintenance, and complete and exclusive possession, command and control of the Aircraft. Lessor shall
have complete and exclusive responsibility for scheduling, dispatching and flight following of the Aircraft on all flights conducted under this Agreement, which responsibility includes the sole and exclusive right over initiating, conducting and
terminating such flights. Lessee shall have no responsibility for scheduling, dispatching or flight following on any flight conducted under this Agreement, nor any right over initiating, conducting or terminating any such flight. Nothing in this
Agreement is intended or shall be construed so as to convey to Lessee any operational control over, or possession, command and control of, the Aircraft, all of which are expressly retained by Lessor. 

4.    Scheduling. 

(a)    Lessee will provide Lessor with requests for flight time and proposed flight schedules as far in advance of any
given flight as possible. Lessee or the designated authorized representative(s) of Lessee shall submit scheduling requests under this Agreement to the designated authorized representative(s) of Lessor. Requests for flight time shall be in such form
(whether oral or written) mutually convenient to, and agreed upon by, the parties. In addition to proposed schedules and flight times, Lessee shall upon request provide Lessor with the following information for each proposed flight prior to
scheduled departure: (i) proposed departure point; (ii) destination; (iii) date and time of flight; (iv) the number of anticipated passengers; (v) the nature and extent of luggage to be carried; (vi) the date and time
of a return flight, if any; and (vii) any other pertinent information concerning the proposed flight that Lessor or the flight crew may request. 

(b)    Subject to Aircraft and crew availability and to any usage limitations established by Lessor, Lessor shall use its
good faith efforts, consistent with Lessor’s approved policies, in order to accommodate the needs of Lessee, to avoid conflicts in scheduling, and to enable Lessee to enjoy the benefits of this Agreement; however, Lessee acknowledges and agrees
that notwithstanding anything in this Agreement to the contrary, (i) Lessor shall have sole and exclusive final authority over the scheduling of the Aircraft; and (ii) the needs of Lessor for the Aircraft shall take precedence over
Lessee’s rights and Lessor’s obligations under this Agreement. 
 (c)    Although every good faith effort
shall be made to avoid its occurrence, any flight scheduled under this Agreement is subject to cancellation by either party without incurring liability to the other party. In the event that cancellation is necessary, the canceling party shall
provide the maximum notice practicable. 
 5.    Billing. Lessor shall pay all expenses relating to the operation
of the Aircraft under this Agreement (in accordance with Section 2 hereof) on a monthly basis. As soon as possible after the end of each monthly period during the Term, Lessor shall provide to Lessee an invoice showing all use of the Aircraft
by Lessee under this Agreement during that month and a complete accounting detailing all amounts payable by Lessee pursuant to Section 2 for that month, including such detail supporting all expenses paid or incurred by Lessor for which
reimbursement is sought as Lessee may reasonably request. Lessee shall pay all amounts due to Lessor under this Section 5 not later than 30 days after receipt of the invoice therefor. 

6.    Maintenance of Aircraft. Lessor shall be solely responsible for securing maintenance, preventive maintenance
and inspections of the Aircraft (utilizing an inspection program listed in FAR Section 91.409(f)), and shall take such requirements into account in scheduling the Aircraft hereunder. 

7.    Flight Crew. 

(a)    Lessor shall employ or engage and as between Lessor and Lessee shall be responsible for the payment of all
salaries, benefits and/or compensation for a fully-qualified flight crew with appropriate credentials to conduct each flight undertaken under this Agreement. All flight crewmembers shall be included on any insurance policies that Lessor is required
to maintain hereunder. 

  
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 (b)    The qualified flight crew provided by Lessor shall exercise all
of its duties and responsibilities with regard to the safety of each flight conducted hereunder in accordance with applicable FAR’s. The Aircraft shall be operated under the standards and policies established by Lessor. Final authority to
initiate or terminate each flight, and otherwise to decide all matters relating to the safety of any given flight or requested flight, shall rest with the
pilot-in-command of that flight. The flight crew may, in its sole discretion, terminate any flight, refuse to commence any flight, or take any other action that, in the
judgment of the pilot-in-command, is necessitated by considerations of safety. No such termination or refusal to commence by the pilot-in-command shall create or support any liability for loss, injury, damage or delay in favor of Lessee or any other person. Lessor shall not be liable to Lessee or any other person for loss, injury or
damage occasioned by the delay or failure to furnish the Aircraft and flight crew pursuant to this Agreement for any reason. 

8.    Insurance. 

(a)    At all times during the Term of this Agreement, Lessor shall maintain at its sole cost and expense
(i) comprehensive aircraft and liability insurance against bodily injury and property damage claims, including, without limitation, contractual liability, premises damage, personal property liability, personal injury liability, death and
property damage liability, public and passenger legal liability coverage, in an amount not less than $100,000,000 for each single occurrence and (ii) hull insurance for the full replacement cost of the aircraft. 

(b)    Any policies of aircraft and liability insurance carried in accordance with this Section 8 and any policies
taken out in substitution or replacement of any such policies (i) shall name Lessee and its employees, agents, licensees and guests as additional insured; (ii) shall provide for 30 days written notice to Lessee by such insurer of
cancellation, change, non-renewal or reduction (seven days in the case of war risk and allied perils coverage or such shorter period as is customarily available in the industry); (iii) shall provide that in
respect of the interests of Lessee in such policies, the insurance shall not be invalidated by any action or inaction of Lessor regardless of any breach or violation of any warranties, declarations or conditions contained in such policies by or
binding upon Lessor; and (iv) shall permit the use of the Aircraft by Lessor for compensation or hire to the extent permitted under applicable law. Each such policy shall be primary insurance, not subject to any
co-insurance clause and shall be without right of contribution from any other insurance. 

(c)    Lessor shall use reasonable commercial efforts to provide such additional insurance coverage for specific flights
under this Agreement, if any, as Lessee may request in writing. Lessee also acknowledges that any trips scheduled to the European Union may require Lessor to purchase additional insurance to comply with local regulations. The cost of all additional
flight-specific insurance shall be borne by Lessee as set forth in Section 2(d) hereof. 
 (d)    Each party agrees
that it will not do any act or voluntarily suffer or permit any act to be done whereby any insurance required hereunder shall or may be suspended, impaired or defeated. In no event shall Lessor suffer or permit the Aircraft to be used or operated
under this Agreement without such insurance being fully in effect. 
 (e)    Lessor shall ensure that worker’s
compensation insurance with all-states coverage is provided for the Aircraft’s crew and maintenance personnel. 

(f)    Lessor shall deliver certificates of insurance to Lessee with respect to the insurance required or permitted to be
provided by it hereunder not later than the first flight of the Aircraft under this Agreement and upon the renewal date of each policy. 

9.    Taxes. Lessee shall be responsible for paying, and Lessor shall be responsible for collecting from Lessee and
paying over to the appropriate authorities, all applicable Federal transportation taxes and sales, use or other excise taxes imposed by any governmental authority in connection with any use of the Aircraft by Lessee hereunder. Each party shall
indemnify the other party against any and all claims, liabilities, costs and expenses (including attorney’s fees as and when incurred) arising out of its breach of this undertaking. 

10.    Lessee’s Representations and Warranties. Lessee represents and warrants that: 

(a)    Lessee will not use the Aircraft for the purposes of providing transportation of passengers or cargo in air
commerce for compensation or hire or for common carriage. 

  
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 (b)    Lessee shall refrain from incurring any mechanic’s or other
liens in connection with inspection, preventive maintenance, maintenance or storage of the Aircraft, and shall not attempt to convey, mortgage, assign, lease or in any way alienate the Aircraft or create any kind of lien or security interest
involving the Aircraft or do anything or take any action that might mature into such a lien. 
 (c)    Lessee shall not
lien or otherwise encumber or create or place any lien or other encumbrance of any kind whatsoever, on or against the Aircraft for any reason. It also will ensure that no liens or encumbrances of any kind whatsoever are created or placed against the
Aircraft for claims against Lessee or by Lessee. 
 (d)    Lessee will abide by and conform to all laws, governmental
and airport orders, rules and regulations, as shall be imposed upon the lessee of an aircraft under a time sharing agreement, and applicable company policies of Lessor. 

11.    Lessor’s Representations and Warranties. Lessor represents and warrants that it will abide by and
conform to all such laws, governmental and airport orders, rules and regulations, as shall from time to time be in effect relating in any way to the operation and use of the Aircraft pursuant to this Agreement. 

12.    Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, LESSOR HAS MADE NO
REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE AIRCRAFT, INCLUDING ANY WITH RESPECT TO ITS CONDITION, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY OR TO
ANY OTHER PERSON FOR ANY INCIDENTIAL, CONSEQUENTIAL OR SPECIAL DAMAGES, HOWEVER ARISING. 
 13.    Term. The term
of this Agreement (the “Term”) shall commence on the effective date hereof and expire on June 30, 2020, and thereafter shall automatically renew for successive one-year terms. Notwithstanding
the foregoing, either party shall have the right to terminate this Agreement after the initial term upon 30 days prior written notice. In addition, this Agreement shall terminate (i) immediately upon breach of the terms of this Agreement by the
other party, or (ii) for any reason or no reason by written notice given to the other party not less than 30 days prior to the proposed termination date. 

14.    Limitation of Liability. Lessee, for itself and on behalf of its agents, guests, invitees, licensees and
employees, covenants and agrees that the insurance described in Section 8 hereof shall be the sole recourse for any and all liabilities, claims, demands, suits, causes of action, losses, penalties, fines, expenses or damages, including
attorney’s fees, court costs and witness fees, attributable to the use, operation or maintenance of the Aircraft pursuant to this Agreement or performance of or failure to perform any obligation under this Agreement. 

15.    Relationship of Parties. Lessor is strictly an independent contractor lessor/provider of transportation
services with respect to Lessee. Nothing in this Agreement is intended, nor shall it be construed so as, to constitute the parties as partners or joint venturers or principal and agent. All persons furnished by Lessor for the performance of the
operations and activities contemplated by this Agreement shall at all times and for all purposes be considered Lessor’s employees or agents. 

16.    Governing Law; Severability. This Agreement shall be governed by and interpreted in accordance with the laws
of the State of New York, without regard to its choice of law rules. If any provision of this Agreement conflicts with any statute or rule of law of the State of New York, or is otherwise unenforceable, such provision shall be deemed null and void
only the extent of such conflict or unenforceability, and shall be deemed separate from, and shall not invalidate, any other provision of this Agreement. 

17.    Amendment. This Agreement may not be amended, supplemented, modified or terminated, or any of its terms
varied, except by an agreement in writing signed by each of the parties hereto. 
 18.    Counterparts. This Time
Sharing Agreement may be executed in counterparts, each of which shall, for all purposes, be deemed an original and all such counterparts, taken together, shall constitute one and the same agreement, even though all parties may not have executed the
same counterpart. Each party may transmit its signature by facsimile, and such faxed signature shall have the same force and effect as an original signature. 

  
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 19.    Successors and Assigns. This Time Sharing Agreement shall
be binding upon the parties hereto and their respective successors and assigns, and shall inure to the benefit of the parties hereto and, except as otherwise provided herein, their respective successors and permitted assigns. Lessee agrees that
Lessee shall not directly or indirectly sublease, assign, transfer, pledge or hypothecate this Agreement or any part hereof without the prior written consent of Lessor, which may be given or withheld by Lessor in its sole and absolute discretion.

 20.    Notices. All notices or other communications delivered or given under this Agreement shall be in
writing and shall be deemed to have been duly given if hand-delivered, sent by certified or registered mail, return receipt requested, or nationally-utilized overnight delivery service, or confirmed facsimile transmission, as the case may be. Such
notices shall be addressed to the parties at the addresses set forth above, or to such other address as may be designated by any party in a writing delivered to the other in the manner set forth in this Section 20. In the case of notices to
Lessor, a copy of each such notice shall be sent to MSG Sports & Entertainment, 2 Penn Plaza, New York, New York 10121, attention: General Counsel. Notices sent by certified or registered mail shall be deemed received three business
days after being mailed. All other notices shall be deemed received on the date delivered. Routine communications may be made by e-mail or fax to the addresses set forth therein. 

21.    Truth-in-Leasing Compliance.
Lessor, on behalf of the Lessee, shall (i) mail a copy of this Agreement to the Aircraft Registration Branch, Technical Section, of the FAA in Oklahoma City within 24 hours of its execution; (ii) notify the Farmingdale Flight Standards
District Office at least 48 hours prior to the first flight by Lessor under this Agreement of the registration number of the Aircraft, and the location of the airport of departure and departure time of the first flight; and (iii) carry a copy
of this Agreement onboard the Aircraft at all times when the Aircraft is being operated under this Agreement. 

22.    TRUTH IN LEASING STATEMENT UNDER FAR SECTION 91.23: 

(A)    LESSOR HEREBY CERTIFIES THAT THE AIRCRAFT HAS BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12-MONTH PERIOD PRECEDING THE DATE OF EXECUTION OF THIS AGREEMENT. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN COMPLIANCE WITH THE MAINTENANCE AND INSPECTION REQUIREMENTS OF FAR PART 91 FOR ALL OPERATIONS TO BE
CONDUCTED UNDER THIS AGREEMENT. 
 (B)    MSG SPORTS & ENTERTAINMENT, LLC, 2 PENN PLAZA, NEW YORK,
NEW YORK 10121, HEREBY CERTIFIES THAT IT IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT FOR ALL OPERATIONS UNDER THIS AGREEMENT. 

(C)    EACH PARTY HEREBY CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL
AVIATION REGULATIONS. 
 (D)    THE PARTIES UNDERSTAND THAT AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL CONTROL
AND THE PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. 

  
 5 

 IN WITNESS WHEREOF, Lessor and Lessee have executed this Time Sharing Agreement effective as
of the date first above written. 
  

			
	LESSOR:
	
	MSG SPORTS & ENTERTAINMENT, LLC
(to be renamed MSG ENTERTAINMENT, LLC)

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	LESSEE:
	
	MSG SPORTS, LLC

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 6

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