Document:

EX-10.1

 Exhibit 10.1 

API GROUP CORPORATION 

2019 EQUITY INCENTIVE PLAN 
  

 API GROUP CORPORATION 

2019 EQUITY INCENTIVE PLAN 
  

							
	 1.
	 	 Purpose
	  	 	1	 
			
	 2.
	 	 Definitions
	  	 	1	 
			
	 3.
	 	 Administration
	  	 	6	 
			
	 4.
	 	 Shares Subject to Plan
	  	 	8	 
			
	 5.
	 	 Eligibility
	  	 	9	 
			
	 6.
	 	 Specific Terms of Awards
	  	 	9	 
			
	 7.
	 	 Certain Provisions Applicable to Awards
	  	 	16	 
			
	 8.
	 	 Reserved
	  	 	19	 
			
	 9.
	 	 Change in Control
	  	 	19	 
			
	 10.
	 	 General Provisions
	  	 	21	 

  

 API GROUP CORPORATION 

2019 EQUITY INCENTIVE PLAN 

1. Purpose. The purpose of this API GROUP CORPORATION 2019 EQUITY INCENTIVE PLAN (the “Plan”) is
to assist API GROUP CORPORATION (the “Company”), and its Related Entities (as hereinafter defined) in attracting, motivating, retaining and rewarding high-quality executives and other employees, officers, directors,
consultants and other persons who provide services to the Company or its Related Entities by enabling such persons to acquire or increase a proprietary interest in the Company in order to strengthen the mutuality of interests between such persons
and the Company’s shareholders, and providing such persons with performance incentives to expend their maximum efforts in the creation of shareholder value. 

2. Definitions. For purposes of the Plan, the following terms shall be defined as set forth below, in addition to such terms
defined in Section 1 hereof and elsewhere herein. 
 (a) “Award” means any Option, Stock Appreciation Right,
Restricted Stock Award, Restricted Stock Unit Award, Share granted as a bonus or in lieu of another Award, Dividend Equivalent, Other Stock-Based Award or Performance Award, together with any other right or interest relating to Shares or other
property (including cash), granted to a Participant under the Plan. 
 (b) “Award Agreement” shall mean any written
agreement, contract or other instrument or document evidencing any Award granted by the Committee hereunder. 
 (c)
“Beneficiary” shall mean the person, persons, trust or trusts that have been designated by a Participant in his or her most recent written beneficiary designation filed with the Committee to receive the benefits specified
under the Plan upon such Participant’s death or to which Awards or other rights are transferred if and to the extent permitted under Section 10(b) hereof. If, upon a Participant’s death, there is no designated Beneficiary or surviving
designated Beneficiary, then the term Beneficiary means the Participant’s estate. 
 (d) “Beneficial Owner”
and “Beneficial Ownership” shall have the meaning ascribed to such term in Rule 13d-3 under the Exchange Act and any successor to such Rule. 

(e) “Board” shall mean the Board of Directors of the Company. 

(f) “Cause” shall have the equivalent meaning or the same meaning as “cause” or “for cause” set
forth in any employment, consulting, or other agreement for the performance of services between the Participant and the Company or a Related Entity or, in the absence of any such agreement or any such definition in such agreement, such term shall
mean (i) the failure by the Participant to perform, in a reasonable manner, his or her duties as assigned by the Company or a Related Entity, (ii) any violation or breach by the Participant of his or her employment, consulting or other
similar agreement with the Company or a Related Entity, if any, (iii) any violation or breach by the Participant of any non-competition, non-solicitation, non-disclosure and/or other similar agreement with the Company or a Related Entity, (iv) any act by the Participant of dishonesty or bad faith with respect to the Company or a Related Entity, (v) use of
alcohol, drugs or other similar substances in a manner that adversely affects the 

 
Participant’s work performance, or (vi) the commission by the Participant of any act, misdemeanor, or crime reflecting unfavorably upon the Participant or the Company or any Related
Entity. The good faith determination by the Committee of whether the Participant’s Continuous Service was terminated by the Company for “Cause” shall be final and binding for all purposes hereunder. 

(g) “Change in Control” shall mean a Change in Control as defined in Section 9(b) of the Plan. 

(h) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, including regulations thereunder
and successor provisions and regulations thereto. 
 (i) “Committee” shall mean a committee designated by the Board
to administer the Plan; provided, however, that if the Board fails to designate a committee or if there are no longer any members on the committee so designated by the Board, or for any other reason determined by the Board, then the Board shall
serve as the Committee. While it is intended that the Committee shall consist of at least two directors, each of whom shall be (i) a “non-employee director” within the meaning of Rule 16b-3 (or any successor rule) under the Exchange Act, unless administration of the Plan by “non-employee directors” is not then required in order for exemptions
under Rule 16b-3 to apply to transactions under the Plan and (ii) “Independent”, the failure of the Committee to be so comprised shall not invalidate any Award that otherwise satisfies the terms of
the Plan. 
 (j) “Consultant” shall mean any consultant or advisor who provides services to the Company or any
Related Entity, so long as (i) such person renders bona fide services that are not in connection with the offer and sale of the Company’s securities in a capital-raising transaction, (ii) such person does not directly or indirectly
promote or maintain a market for the Company’s securities, and (iii) the identity of such person would not preclude the Company from offering or selling securities to such person pursuant to the Plan in reliance on either the exemption
from registration provided by Rule 701 under the Securities Act of 1933 or, if the Company is required to file reports pursuant to Section 13 or 15(d) of the Exchange Act, registration on a Form S-8
Registration Statement under the Securities Act of 1933. 
 (k) “Continuous Service” shall “mean the
uninterrupted provision of services to the Company or any Related Entity in any capacity of Employee, Director, Consultant or other service provider. Continuous Service shall not be considered to be interrupted in the case of (i) any approved
leave of absence (including, without limitation, sick leave, military leave, or any other authorized personal leave), (ii) transfers among the Company, any Related Entities, or any successor entities, in any capacity of Employee, Director,
Consultant or other service provider, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee, Director, Consultant or other service provider (except as
otherwise provided in the Award Agreement). 
 (l) “Director” shall mean a member of the Board or the board of
directors of any Related Entity. 

  
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 (m) “Disability” shall mean, unless otherwise defined in an Award
Agreement, for purposes of the exercise of an Incentive Stock Option, a permanent and total disability, within the meaning of Code Section 22(e)(3), and for all other purposes, the Participant’s inability to perform the duties of his or
her position with the Company or any Related Entity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months. 
 (n) “Dividend Equivalent” shall mean a right, granted to a Participant under Section 6(g)
hereof, to receive cash, Shares, other Awards or other property equal in value to dividends paid with respect to a specified number of Shares, or other periodic payments. 

(o) “Domestication” means the change to the jurisdiction of incorporation of the Company from the British Virgin
Islands to the State of Delaware. 
 (p) “Effective Date” shall mean the effective date of the Plan, which shall be
October 1, 2019. 
 (q) “Eligible Person” shall mean each Director, Employee, Consultant and other person who
provides services to the Company or any Related Entity. The foregoing notwithstanding, only Employees of the Company, or any parent corporation or subsidiary corporation of the Company (as those terms are defined in Sections 424(e) and (f) of
the Code, respectively), shall be Eligible Persons for purposes of receiving any Incentive Stock Options. An Employee on leave of absence may, in the discretion of the Committee, be considered as still in the employ of the Company or a Related
Entity for purposes of eligibility for participation in the Plan. 
 (r) “Employee” shall mean any person, including
an officer or Director, who is an employee of the Company or any Related Entity, or is a prospective employee of the Company or any Related Entity (conditioned upon and effective not earlier than, such person becoming an employee of the Company or
any Related Entity). The payment of a director’s fee by the Company or a Related Entity shall not be sufficient to constitute “employment” by the Company. 

(s) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time, including rules
thereunder and successor provisions and rules thereto. 
 (t) “Fair Market Value” shall mean the fair market value of
Shares, Awards or other property on the date as of which the value is being determined, as determined by the Committee, or under procedures established by the Committee, subject to the following: 

(i) If, on such date, the Shares are listed on an international, national or regional securities exchange or market system, the Fair Market
Value of a Share shall be the closing price of a Share (or the mean of the closing bid and asked prices of a Share if the Share is so quoted instead) as quoted on the applicable exchange or system, as reported in The Wall Street Journal or such
other source as the Company deems reliable. If the relevant date does not fall on a day on which the Share has traded on such exchange or system, the date on which the Fair Market Value shall be established shall be the last day on which the Share
was so traded prior to the relevant date, or such other appropriate day as shall be determined by the Board, in its discretion 

  
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 (ii) If, on such date, the Shares are not listed on an international, national or regional
securities exchange or market system but is traded on an over-the-counter market, the Fair Market Value of a Share shall be the average of the closing bid and asked
prices for Shares or, if no closing bid and asked prices, the last closing price, in such over-the-counter market for the last preceding date on which there was a sale
of such Shares in such market. 
 (iii) If, on such date, the Shares are not listed on an international, national or regional securities
exchange or market system and are not traded on an over-the-counter market, the Fair Market Value of a Share shall be as determined by the Board in good faith without
regard to any restriction other than a restriction which, by its terms, will never lapse. 
 (u) “Good Reason” shall,
with respect to any Participant, have the equivalent meaning or the same meaning as “good reason” or “for good reason” set forth in any employment, consulting or other agreement for the performance of services between the
Participant and the Company or a Related Entity or, in the absence of any such agreement or any such definition in such agreement, such term shall mean (i) the assignment to the Participant of any duties inconsistent in any material respect
with the Participant’s duties or responsibilities as assigned by the Company or a Related Entity, or any other action by the Company or a Related Entity which results in a material diminution in such duties or responsibilities, excluding for
this purpose an action which is remedied by the Company or a Related Entity promptly after receipt of notice thereof given by the Participant; (ii) any material failure by the Company or a Related Entity to comply with its obligations to the
Participant as agreed upon, other than a failure which is remedied by the Company or a Related Entity promptly after receipt of notice thereof given by the Participant; (iii) the Company’s or Related Entity’s requiring the Participant
to be based at any office or location outside of fifty (50) miles from the location of employment or service as of the date of Award, except for travel reasonably required in the performance of the Participant’s responsibilities; or
(iv) a material breach by the Company or any Related Entity of any employment, consulting or other agreement under which the Participant provides services to the Company or any Related Entity. For purposes of this Plan, upon termination of a
Participant’s Continuous Service, Good Reason shall not be deemed to exist unless the Participant’s termination of Continuous Service for Good Reason occurs within sixty (60) days following the initial existence of one of the
conditions specified in clauses (i) through (iv) above, the Participant provides the Company or the Related Entity for which the Participant provides services with written notice of the existence of such condition with thirty (30) days
after the initial existence of the condition, and the Company fails to remedy the condition within thirty (30) days after its receipt of notice. 

(v) “Incentive Stock Option” shall mean any Option intended to be designated as an incentive stock option within the
meaning of Section 422 of the Code or any successor provision thereto. 

  
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 (w) “Independent”, when referring to either the Board or members of
the Committee, shall have the same meaning as used in the rules of the Listing Market. 
 (x) “Incumbent Board” shall
mean the Incumbent Board as defined in Section 9(b)(ii) hereof. 
 (y) “Listing Market” shall mean the
international or national securities exchange on which any securities of the Company are listed for trading, and if not listed for trading, by the rules of the New York Stock Exchange. 

(z) “Option” shall mean a right granted to a Participant under Section 6(b) hereof, to purchase Shares or other
Awards at a specified price during specified time periods. 
 (aa) “Optionee” shall mean a person to whom an Option
is granted under this Plan or any person who succeeds to the rights of such person under this Plan. 
 (bb) “Other Stock-Based
Awards” shall mean Awards granted to a Participant under Section 6(i) hereof. 
 (cc) “Parent”
shall mean any corporation (other than the Company), whether now or hereafter existing, in an unbroken chain of corporations ending with the Company, if each of the corporations in the chain (other than the Company) owns stock possessing 50% or more
of the combined voting power of all classes of stock in one of the other corporations in the chain. 
 (dd)
“Participant” shall mean a person who has been granted an Award under the Plan which remains outstanding, including a person who is no longer an Eligible Person. 

(ee) “Performance Award” shall mean any Award granted pursuant to Section 6(h) hereof. 

(ff) “Performance Period” shall mean that period established by the Committee at the time any Performance Award is
granted or at any time thereafter during which any performance goals specified by the Committee with respect to such Award are to be measured. 

(gg) “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in
Sections 13(d) and 14(d) thereof, and shall include a “group” as defined in Section 13(d) thereof. 
 (hh) “Related
Entity” shall mean any Parent or Subsidiary, and any business, corporation, partnership, limited liability company or other entity designated by the Committee in which the Company, a Parent or a Subsidiary holds a substantial ownership
interest, directly or indirectly and with respect to which the Company may offer or sell securities pursuant to the Plan in reliance upon either Rule 701 under the Securities Act of 1933 or, if the Company is required to file reports pursuant to
Section 13 or 15(d) of the Exchange Act, registration on a Form S-8 Registration Statement under the Securities Act of 1933. 

  
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 (ii) “Restricted Stock” shall mean any Share issued with such risks
of forfeiture and other restrictions as the Committee, in its sole discretion, may impose (including any restriction on the right to vote such Share and the right to receive any dividends), which restrictions may lapse separately or in combination
at such time or times, in installments or otherwise, as the Committee may deem appropriate. 
 (jj) “Restricted Stock
Award” shall mean an Award granted to a Participant under Section 6(d) hereof. 
 (kk) “Restricted Stock
Unit” shall mean a right to receive Shares, including Restricted Stock, cash measured based upon the value of Shares, or a combination thereof, at the end of a specified deferral period. 

(ll) “Restricted Stock Unit Award” shall mean an Award of Restricted Stock Units granted to a Participant under
Section 6(e) hereof. 
 (mm) “Restriction Period” shall mean the period of time specified by the Committee that
Restricted Stock Awards shall be subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose. 

(nn) “Rule 16b-3” shall mean Rule
16b-3, as from time to time in effect and applicable to the Plan and Participants, promulgated by the Securities and Exchange Commission under Section 16 of the Exchange Act. 

(oo) “Shares” shall mean (i) prior to the Domestication, the ordinary shares of the Company, and (ii) after
the Domestication, the shares of common stock of the Company, in each case, and such other securities as may be substituted (or resubstituted) for Shares pursuant to Section 10(c) hereof. 

(pp) “Stock Appreciation Right” shall mean a right granted to a Participant under Section 6(c) hereof. 

(qq) “Subsidiary” shall mean any corporation or other entity in which the Company has a direct or indirect ownership
interest of 50% or more of the total combined voting power of the then outstanding securities or interests of such corporation or other entity entitled to vote generally in the election of directors or in which the Company has the right to receive
50% or more of the distribution of profits or 50% or more of the assets on liquidation or dissolution. 
 (rr) “Substitute
Awards” shall mean Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, Awards previously granted, or the right or obligation to make future Awards, by a company (i) acquired by the
Company or any Related Entity, (ii) which becomes a Related Entity after the date hereof, or (iii) with which the Company or any Related Entity combines. 

  
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 3. Administration. 

(a) Authority of the Committee. The Plan shall be administered by the Committee except to the extent (and subject to the
limitations imposed by Section 3(b) hereof) the Board elects to administer the Plan, in which case the Plan shall be administered by only those members of the Board who are Independent members of the Board, in which case references herein to
the “Committee” shall be deemed to include references to the Independent members of the Board. The Committee shall have full and final authority, subject to and consistent with the provisions of the Plan, to select Eligible Persons to
become Participants, grant Awards, determine the type, number and other terms and conditions of, and all other matters relating to, Awards, prescribe Award Agreements (which need not be identical for each Participant) and rules and regulations for
the administration of the Plan, construe and interpret the Plan and Award Agreements and correct defects, supply omissions or reconcile inconsistencies therein, and to make all other decisions and determinations as the Committee may deem necessary
or advisable for the administration of the Plan. In exercising any discretion granted to the Committee under the Plan or pursuant to any Award, the Committee shall not be required to follow past practices, act in a manner consistent with past
practices, or treat any Eligible Person or Participant in a manner consistent with the treatment of any other Eligible Persons or Participants. Decisions of the Committee shall be final, conclusive and binding on all persons or entities, including
the Company, any Related Entity or any Participant or Beneficiary, or any transferee under Section 10(b) hereof or any other person claiming rights from or through any of the foregoing persons or entities. 

(b) Manner of Exercise of Committee Authority. The Committee, and not the Board, shall exercise sole and exclusive discretion
(i) on any matter relating to a Participant then subject to Section 16 of the Exchange Act with respect to the Company to the extent necessary in order that transactions by such Participant shall be exempt under Rule 16b-3 under the Exchange Ac, and (ii) with respect to any Award to an Independent Director. The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be
construed as limiting any power or authority of the Committee. The Committee may delegate to members of the Board, or officers or managers of the Company or any Related Entity, or committees thereof, the authority, subject to such terms and
limitations as the Committee shall determine, to perform such functions, including administrative functions as the Committee may determine to the extent that such delegation will not result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company. The Committee may appoint agents to assist it in administering the Plan, including, without
limitation, appointing one or more members of the Company’s management, with the power or authority otherwise granted to the Committee under this Plan with respect to a number of Shares reserved and available for delivery under the Plan,
subject to the terms and limitations of such power or authority as determined by the Committee in its sole and absolute discretion. In no event, however, may an agent appointed by the Committee to assist it in administering the Plan be permitted to
grant Awards to, or exercise any discretion with respect to any and all other matters relating to Awards previously granted to, such agent appointed by the Committee to assist it in administering the Plan. 

(c) Limitation of Liability. The Committee and the Board, and each member thereof, shall be entitled to, in good faith, rely or
act upon any report or other information furnished to him or her by any officer or Employee, the Company’s independent auditors, Consultants or any other agents assisting in the administration of the Plan. Members of the Committee and the
Board, and any officer or Employee acting at the direction or on behalf of the Committee or the Board, shall not be personally liable for any action or determination taken or made in good faith with respect to the Plan, and shall, to the extent
permitted by law, be fully indemnified and protected by the Company with respect to any such action or determination. 

  
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 4. Shares Subject to Plan. 

(a) Limitation on Overall Number of Shares Available for Delivery Under Plan. Subject to adjustment as provided in
Section 10(c) hereof, the total number of Shares reserved and available for delivery under the Plan shall be equal to 17,000,000. Any Shares delivered under the Plan may consist, in whole or in part, of authorized and unissued shares or
treasury shares. 
 (b) Application of Limitation to Grants of Awards. No Award may be granted if the number of Shares to be
delivered in connection with such an Award exceeds the number of Shares remaining available for delivery under the Plan, minus the number of Shares that would be counted against the limit upon settlement of then outstanding Awards. The Committee may
adopt reasonable counting procedures to ensure appropriate counting, avoid double counting (as, for example, in the case of tandem or substitute awards) and make adjustments if the number of Shares actually delivered differs from the number of
Shares previously counted in connection with an Award. 
 (c) Availability of Shares Not Delivered under Awards and Adjustments to
Limits.  
 (i) If any Shares subject to an Award are forfeited, expire or otherwise terminate without issuance of such Shares, or
any Award is settled for cash or otherwise does not result in the issuance of all or a portion of the Shares subject to such Award, the Shares to which those Awards were subject, shall, to the extent of such forfeiture, expiration, termination, non-issuance or cash settlement, again be available for delivery with respect to Awards under the Plan. 

(ii) The full number of Shares subject to an Option granted under this Plan shall count against the number of Shares remaining available for
issuance pursuant to Awards granted under the Plan, even if the exercise price of the Option is satisfied through net-settlement or by delivering Shares to the Company (by either actual delivery or
attestation). Upon exercise of Stock Appreciation Rights granted under the Plan that are settled in Shares, the full number of Stock Appreciation Rights (rather than the net number of Shares actually delivered upon exercise) shall count against the
maximum number of Shares remaining available for issuance pursuant to Awards granted under the Plan. 
 (iii) Shares withheld from an Award
granted under this Plan to satisfy tax withholding requirements shall count against the maximum number of Shares remaining available for issuance pursuant to Awards granted under the Plan, and Shares delivered by a participant to satisfy tax
withholding requirements shall not be added back to the Plan Share pool. 

  
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 (iv) Substitute Awards shall not reduce the Shares authorized for delivery under the Plan
or authorized for delivery to a Participant in any period. Additionally, in the event that an entity acquired by the Company or any Related Entity or with which the Company or any Related Entity combines has shares available under a pre-existing plan approved by its shareholders and not adopted in contemplation of such acquisition or combination, the shares available for delivery pursuant to the terms of such
pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration
payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for delivery under the Plan if and to the extent that the use of such
Shares would not require approval of the Company’s shareholders under the rules of the Listing Market. Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Employees or Directors prior to such acquisition or combination. 

(v) Any Share that again becomes available for delivery pursuant to this Section 4(c) shall be added back as one (1) Share. 

(vi) Notwithstanding anything in this Section 4(c) to the contrary but subject to adjustment as provided in Section 10(c) hereof,
the maximum aggregate number of Shares that may be delivered under the Plan as a result of the exercise of the Incentive Stock Options shall be 17,000,000 Shares. In no event shall any Incentive Stock Options be granted under the Plan after the
tenth anniversary of the date on which the Board adopts the Plan. 
 (vii) Notwithstanding anything in this Section 4 to the contrary,
but subject to adjustment as provided in Section 10(c) hereof, in any fiscal year of the Company during any part of which the Plan is in effect, no Participant who is a Director but is not also an Employee or Consultant may be granted any
Awards that have a “fair value” as of the date of grant, as determined in accordance with FASB ASC Topic 718 (or any other applicable accounting guidance), that exceeds $250,000 in the aggregate. 

5. Eligibility. Awards may be granted under the Plan only to Eligible Persons. 

6. Specific Terms of Awards. 

(a) General. Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the Committee may
impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 10(e) hereof), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine,
including terms requiring forfeiture of Awards in the event of termination of the Participant’s Continuous Service and terms permitting a Participant to make elections relating to his or her Award. Except as otherwise expressly provided herein,
the Committee shall retain full power and discretion to accelerate, waive or modify, at any time, any term or condition of an Award that is not mandatory under the Plan. Except in cases in which the Committee is authorized to require other forms of
consideration under the Plan, or to the extent other forms of consideration must be paid to satisfy the requirements of (i) prior to the Domestication, the laws of the British Virgin Islands, and (ii) after the Domestication, the laws of
the State of Delaware, no consideration other than services may be required for the grant (as opposed to the exercise) of any Award. 

  
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 (b) Options. The Committee is authorized to grant Options to any Eligible
Person on the following terms and conditions: 
 (i) Exercise Price. Other than in connection with Substitute Awards, the
exercise price per Share purchasable under an Option shall be determined by the Committee, provided that such exercise price shall not be less than 100% of the Fair Market Value of a Share on the date of grant of the Option and shall not, in any
event, be less than the par value of a Share on the date of grant of the Option. If an Employee owns or is deemed to own (by reason of the attribution rules applicable under Section 424(d) of the Code) more than 10% of the combined voting power
of all classes of stock of the Company (or any parent corporation or subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) and an Incentive Stock Option is granted to such
Employee, the exercise price of such Incentive Stock Option (to the extent required by the Code at the time of grant) shall be no less than 110% of the Fair Market Value of a Share on the date such Incentive Stock Option is granted. Other than
pursuant to Section 10(c)(i) and (ii) of this Plan, the Committee shall not be permitted to (A) lower the exercise price per Share of an Option after it is granted, (B) cancel an Option when the exercise price per Share exceeds
the Fair Market Value of the underlying Shares in exchange for cash or another Award (other than in connection with Substitute Awards), (C) cancel an outstanding Option in exchange for an Option with an exercise price that is less than the exercise
price of the original Options or (D) take any other action with respect to an Option that may be treated as a repricing pursuant to the applicable rules of the Listing Market, without approval of the Company’s shareholders. 

(ii) Time and Method of Exercise. The Committee shall determine the time or times at which or the circumstances under which an
Option may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the method by which notice of exercise is to be given and the form of exercise notice to be used, the time or times
at which Options shall cease to be or become exercisable following termination of Continuous Service or upon other conditions, the methods by which the exercise price may be paid or deemed to be paid (including in the discretion of the Committee a
cashless exercise procedure), the form of such payment, including, without limitation, cash, Shares (including without limitation the withholding of Shares otherwise deliverable pursuant to the Award), other Awards or awards granted under other
plans of the Company or a Related Entity, or other property (including notes or other contractual obligations of Participants to make payment on a deferred basis provided that such deferred payments are not in violation of Section 13(k) of the
Exchange Act, or any rule or regulation adopted thereunder or any other applicable law), and the methods by or forms in which Shares will be delivered or deemed to be delivered to Participants. 

(iii) Form of Settlement. The Committee may, in its sole discretion, provide that the Shares to be issued upon exercise of an
Option shall be in the form of Restricted Stock or other similar securities. 
 (iv) Incentive Stock Options. The Committee
shall only grant Incentive Stock Options if (y) with respect to the initial Share pools set forth in Section 4(a) and 4(c)(vi), within 12 months of the Effective Date, and/or (z) with respect to any increase in the Share pools set
forth in Sections 4(a) and 4(c)(iv) by an amendment to this Plan, within 12 

  
 10 

 
months of the effective date of any such amendment the Plan or amendment, whichever applicable, is approved by shareholders of the Company eligible to vote in the election of directors, by a vote
sufficient to meet the requirements of Code Section 422, applicable requirements under the rules of any stock exchange or automated quotation system on which the Shares may be listed or quoted, and other laws, regulations, and obligations of
the Company applicable to the Plan. Incentive Stock Options may be granted subject to shareholder approval, but may not be exercised or otherwise settled in the event the shareholder approval is not obtained. The terms of any Incentive Stock Option
granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code. Anything in the Plan to the contrary notwithstanding, no term of the Plan relating to Incentive Stock Options (including any Stock Appreciation
Right issued in tandem therewith) shall be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be exercised, so as to disqualify either the Plan or any Incentive Stock Option under Section 422 of the
Code, unless the Participant has first requested, or consents to, the change that will result in such disqualification. Thus, if and to the extent required to comply with Section 422 of the Code, Options granted as Incentive Stock Options shall
be subject to the following special terms and conditions: 
 (A) the Option shall not be exercisable for more than ten years after the date
such Incentive Stock Option is granted; provided, however, that if a Participant owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code) more than 10% of the combined voting power of all classes of stock of
the Company (or any parent corporation or subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) and the Incentive Stock Option is granted to such Participant, the term of the
Incentive Stock Option shall be (to the extent required by the Code at the time of the grant) for no more than five years from the date of grant; 

(B) the aggregate Fair Market Value (determined as of the date the Incentive Stock Option is granted) of the Shares with respect to which
Incentive Stock Options granted under the Plan and all other option plans of the Company (and any parent corporation or subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) that
become exercisable for the first time by the Participant during any calendar year shall not (to the extent required by the Code at the time of the grant) exceed $100,000; and 

(C) if Shares acquired by exercise of an Incentive Stock Option are disposed of within two years following the date the Incentive Stock Option
is granted or one year following the transfer of such Shares to the Participant upon exercise, the Participant shall, promptly following such disposition, notify the Company in writing of the date and terms of such disposition and provide such other
information regarding the disposition as the Committee may reasonably require. 

  
 11 

 (c) Stock Appreciation Rights. The Committee may grant Stock Appreciation
Rights to any Eligible Person in conjunction with all or part of any Option granted under the Plan or at any subsequent time during the term of such Option (a “Tandem Stock Appreciation Right”), or without regard to any Option (a
“Freestanding Stock Appreciation Right”), in each case upon such terms and conditions as the Committee may establish in its sole discretion, not inconsistent with the provisions of the Plan, including the following: 

(i) Right to Payment. A Stock Appreciation Right shall confer on the Participant to whom it is granted a right to receive, upon
exercise thereof, the excess of (A) the Fair Market Value of one Share on the date of exercise over (B) the grant price of the Stock Appreciation Right as determined by the Committee. The grant price of a Stock Appreciation Right shall not
be less than 100% of the Fair Market Value of a Share on the date of grant, in the case of a Freestanding Stock Appreciation Right, or less than the associated Option exercise price, in the case of a Tandem Stock Appreciation Right. Other than
pursuant to Section 10(c)(i) and (ii) of the Plan, the Committee shall not be permitted to (A) lower the grant price per Share of a Stock Appreciation Right after it is granted, (B) cancel a Stock Appreciation Right when the
grant price per Share exceeds the Fair Market Value of the underlying Shares in exchange for another Award (other than in connection with Substitute Awards), (C) cancel an outstanding Stock Appreciation Right in exchange for a Stock Appreciation
Right with a grant price that is less than the grant price of the original Stock Appreciation Right, or (D) take any other action with respect to a Stock Appreciation Right that may be treated as a repricing pursuant to the applicable rules of
the Listing Market, without shareholder approval. 
 (ii) Other Terms. The Committee shall determine at the date of grant or
thereafter, the time or times at which and the circumstances under which a Stock Appreciation Right may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at
which Stock Appreciation Rights shall cease to be or become exercisable following termination of Continuous Service or upon other conditions, the method of exercise, method of settlement, form of consideration payable in settlement, method by or
forms in which Shares will be delivered or deemed to be delivered to Participants, whether or not a Stock Appreciation Right shall be in tandem or in combination with any other Award, and any other terms and conditions of any Stock Appreciation
Right. 
 (iii) Tandem Stock Appreciation Rights. Any Tandem Stock Appreciation Right may be granted at the same time as the
related Option is granted or, for Options that are not Incentive Stock Options, at any time thereafter before exercise or expiration of such Option. Any Tandem Stock Appreciation Right related to an Option may be exercised only when the related
Option would be exercisable and the Fair Market Value of the Shares subject to the related Option exceeds the exercise price at which Shares can be acquired pursuant to the Option. In addition, if a Tandem Stock Appreciation Right exists with
respect to less than the full number of Shares covered by a related Option, then an exercise or termination of such Option shall not reduce the number of Shares to which the Tandem Stock Appreciation Right applies until the number of Shares then
exercisable under such Option equals the number of Shares to which the Tandem Stock Appreciation Right applies. Any Option related to a Tandem Stock Appreciation Right shall no longer be exercisable to the extent the Tandem Stock Appreciation Right
has been exercised, and any Tandem Stock Appreciation Right shall no longer be exercisable to the extent the related Option has been exercised. 

  
 12 

 (d) Restricted Stock Awards. The Committee is authorized to grant Restricted
Stock Awards to any Eligible Person on the following terms and conditions: 
 (i) Grant and Restrictions. Restricted Stock
Awards shall be subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose, or as otherwise provided in this Plan during the Restriction Period. The terms of any Restricted Stock
Award granted under the Plan shall be set forth in a written Award Agreement which shall contain provisions determined by the Committee and not inconsistent with the Plan. The restrictions may lapse separately or in combination at such times, under
such circumstances (including based on achievement of performance goals and/or future service requirements), in such installments or otherwise, as the Committee may determine at the date of grant or thereafter. Except to the extent restricted under
the terms of the Plan and any Award Agreement relating to a Restricted Stock Award, a Participant granted Restricted Stock shall have all of the rights of a shareholder, including the right to vote the Restricted Stock and the right to receive
dividends thereon (subject to any mandatory reinvestment or other requirement imposed by the Committee). During the period that the Restricted Stock Award is subject to a risk of forfeiture, subject to Section 10(b) below and except as
otherwise provided in the Award Agreement, the Restricted Stock may not be sold, transferred, pledged, hypothecated, margined or otherwise encumbered by the Participant or Beneficiary. 

(ii) Forfeiture. Except as otherwise determined by the Committee, upon termination of a Participant’s Continuous Service
during the applicable Restriction Period, the Participant’s Restricted Stock that is at that time subject to a risk of forfeiture that has not lapsed or otherwise been satisfied shall be forfeited and reacquired by the Company; provided that,
subject to the limitations set forth in Section 6(j) hereof, the Committee may provide, by resolution or other action or in any Award Agreement, or may determine in any individual case, that forfeiture conditions relating to Restricted Stock
Awards shall be waived in whole or in part in the event of terminations resulting from specified causes, and the Committee may in other cases waive in whole or in part the forfeiture of Restricted Stock. 

(iii) Certificates for Stock. Restricted Stock granted under the Plan may be evidenced in such manner as the Committee shall
determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates bear an appropriate legend referring to the terms, conditions and restrictions applicable to
such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in blank, relating to the Restricted Stock. 

(iv) Dividends and Splits. As a condition to the grant of a Restricted Stock Award, the Committee shall either (A) require
that any cash dividends paid on a Share of Restricted Stock be automatically reinvested in additional Shares of Restricted Stock, or (B) require that payment be delayed (with or without interest at such rate, if any, as the Committee shall
determine) and remain subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such cash dividend is payable, in each case in a manner that does not violate the requirements of
Section 409A of the Code. Unless otherwise determined by the Committee, Shares distributed in connection with a stock split or stock dividend, and other property distributed as a dividend, shall be subject to restrictions and a risk of
forfeiture to the same extent as the Restricted Stock with respect to which such Shares or other property have been distributed. 

  
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 (e) Restricted Stock Unit Award. The Committee is authorized to grant
Restricted Stock Unit Awards to any Eligible Person on the following terms and conditions: 
 (i) Award and Restrictions.
Satisfaction of a Restricted Stock Unit Award shall occur upon expiration of the deferral period specified for such Restricted Stock Unit Award by the Committee (or, if permitted by the Committee, as elected by the Participant in a manner that does
not violate the requirements of Section 409A of the Code). In addition, a Restricted Stock Unit Award shall be subject to such restrictions (which may include a risk of forfeiture) as the Committee may impose, if any, which restrictions may
lapse at the expiration of the deferral period or at earlier specified times (including based on achievement of performance goals and/or future service requirements), separately or in combination, in installments or otherwise, as the Committee may
determine. A Restricted Stock Unit Award may be satisfied by delivery of Shares, cash equal to the Fair Market Value of the specified number of Shares covered by the Restricted Stock Units, or a combination thereof, as determined by the Committee at
the date of grant or thereafter. Prior to satisfaction of a Restricted Stock Unit Award, a Restricted Stock Unit Award carries no voting or dividend or other rights associated with Share ownership. Prior to satisfaction of a Restricted Stock Unit
Award, except as otherwise provided in an Award Agreement and as permitted under Section 409A of the Code, a Restricted Stock Unit Award may not be sold, transferred, pledged, hypothecated, margined or otherwise encumbered by the Participant or
any Beneficiary. 
 (ii) Forfeiture. Except as otherwise determined by the Committee, upon termination of a Participant’s
Continuous Service during the applicable deferral period or portion thereof to which forfeiture conditions apply (as provided in the Award Agreement evidencing the Restricted Stock Unit Award), the Participant’s Restricted Stock Unit Award that
is at that time subject to a risk of forfeiture that has not lapsed or otherwise been satisfied shall be forfeited; provided that, subject to the limitations set forth in Section 6(j)(ii) hereof, the Committee may provide, by resolution or
other action or in any Award Agreement, or may determine in any individual case, that forfeiture conditions relating to a Restricted Stock Unit Award shall be waived in whole or in part in the event of terminations resulting from specified causes,
and the Committee may in other cases waive in whole or in part the forfeiture of any Restricted Stock Unit Award. 
 (iii) Dividend
Equivalents. As a condition to the grant of a Restricted Stock Unit, the Committee shall require that any cash dividends paid on a Share attributable to such Restricted Stock Unit be delayed (with or without interest at such rate, if any, as
the Committee shall determine) and remain subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock Unit with respect to which such cash dividend is payable, in a manner that does not violate the requirements of
Section 409A of the Code. Unless otherwise determined by the Committee, Shares distributed in connection with a stock split or stock dividend, and other property distributed as a dividend, shall be subject to restrictions and a risk of
forfeiture to the same extent as the Restricted Stock Unit with respect to which such Shares or other property have been distributed. 
 (f)
Bonus Stock and Awards in Lieu of Obligations. The Committee is authorized to grant Shares to any Eligible Persons as a bonus, or to grant Shares or other Awards in lieu of obligations to pay cash or deliver other property under the
Plan or under other plans or compensatory arrangements, provided that, in the case of Eligible Persons subject to Section 16 of the Exchange Act, the amount of such grants remains within the discretion of the Committee to the extent necessary
to ensure that acquisitions of Shares or other Awards are exempt from liability under Section 16(b) of the Exchange Act. Shares or Awards granted hereunder shall be subject to such other terms as shall be determined by the Committee. 

  
 14 

 (g) Dividend Equivalents. The Committee is authorized to grant Dividend
Equivalents to any Eligible Person entitling the Eligible Person to receive cash, Shares, other Awards, or other property equal in value to the dividends paid with respect to a specified number of Shares, or other periodic payments. Dividend
Equivalents may be awarded on a free-standing basis or in connection with another Award. The Committee may provide that Dividend Equivalents shall be paid or distributed when accrued, or whether such Dividend Equivalents shall be deemed to have been
reinvested in additional Shares, Awards, or other investment vehicles, and subject to such restrictions on transferability and risks of forfeiture, as the Committee may specify; provided, that in no event shall such Dividend Equivalents be
paid out to Participants prior to vesting of the corresponding Shares underlying the Award. Any such determination by the Committee shall be made at the grant date of the applicable Award. Notwithstanding the foregoing, Dividend Equivalents credited
in connection with an Award that vests based on the achievement of performance goals shall be subject to restrictions and risk of forfeiture to the same extent as the Award with respect to which such Dividend Equivalents have been credited. 

(h) Performance Awards. The Committee is authorized to grant Performance Awards to any Eligible Person payable in cash, Shares,
or other Awards, on terms and conditions established by the Committee, subject to the provisions of Section 8 if and to the extent that the Committee shall, in its sole discretion, determine that an Award shall be subject to those provisions.
The performance criteria to be achieved during any Performance Period and the length of the Performance Period shall be determined by the Committee upon the grant of each Performance Award. Except as provided in Section 9 or as may be provided
in an Award Agreement, Performance Awards will be distributed only after the end of the relevant Performance Period. The performance goals to be achieved for each Performance Period shall be conclusively determined by the Committee and may be based
upon the criteria set forth in Section 8(b), or in the case of an Award that the Committee determines shall not be subject to Section 8 hereof, any other criteria that the Committee, in its sole discretion, shall determine should be used
for that purpose. The amount of the Award to be distributed shall be conclusively determined by the Committee. Performance Awards may be paid in a lump sum or in installments following the close of the Performance Period or, in accordance with
procedures established by the Committee, on a deferred basis in a manner that does not violate the requirements of Section 409A of the Code. 

(i) Other Stock-Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant to any Eligible
Person such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, as deemed by the Committee to be consistent with the purposes of the Plan. Other Stock-Based
Awards may be granted to Participants either alone or in addition to other Awards granted under the Plan, and such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan. Except
as otherwise provided in the last sentence of Section 6(h) hereof, the Committee shall determine the terms and conditions of such Awards. Shares delivered pursuant to an Award in the nature of a purchase right granted under this
Section 6(i) shall be purchased for such consideration, (including without 

  
 15 

 
limitation loans from the Company or a Related Entity provided that such loans are not in violation of Section 13(k) of the Exchange Act or any rule or regulation adopted thereunder or any
other applicable law) paid for at such times, by such methods, and in such forms, including, without limitation, cash, Shares, other Awards or other property, as the Committee shall determine. 

(j) Minimum Vesting Conditions. Except for certain limited situations (including death, disability, retirement, a Change in
Control referred to in Section 9, grants to new hires to replace forfeited compensation, grants representing payment of earned Performance Awards or other incentive compensation, Substitute Awards or grants to Directors), all Awards granted
under this Plan shall be subject to a minimum vesting period of one (1) year (the “Minimum Vesting Condition”); provided, that such Minimum Vesting Condition will not be required on Awards covering, in the
aggregate, a number of Shares not to exceed 5% of the maximum Share pool limit set forth in Section 4(a) hereof (subject to adjustment as provided in Section 10(c) hereof). 

7. Certain Provisions Applicable to Awards. 

(a) Stand-Alone, Additional, Tandem, and Substitute Awards. Awards granted under the Plan may, in the discretion of the
Committee, be granted either alone or in addition to, in tandem with, or in substitution or exchange for, any other Award or any award granted under another plan of the Company, any Related Entity, or any business entity to be acquired by the
Company or a Related Entity, or any other right of a Participant to receive payment from the Company or any Related Entity. Such additional, tandem, and substitute or exchange Awards may be granted at any time. If an Award is granted in substitution
or exchange for another Award or award, the Committee shall require the surrender of such other Award or award in consideration for the grant of the new Award. In addition, Awards may be granted in lieu of cash compensation, including in lieu of
cash amounts payable under other plans of the Company or any Related Entity, in which the value of Shares subject to the Award is equivalent in value to the cash compensation (for example, Restricted Stock or Restricted Stock Units), or in which the
exercise price, grant price or purchase price of the Award in the nature of a right that may be exercised is equal to the Fair Market Value of the underlying Shares minus the value of the cash compensation surrendered (for example, Options or Stock
Appreciation Right granted with an exercise price or grant price “discounted” by the amount of the cash compensation surrendered), provided that any such determination to grant an Award in lieu of cash compensation must be made in a manner
intended to be exempt from or comply with Section 409A of the Code. 
 (b) Term of Awards. The term of each Award shall be
for such period as may be determined by the Committee; provided that in no event shall the term of any Option or Stock Appreciation Right exceed a period of ten years (or in the case of an Incentive Stock Option such shorter term as may be required
under Section 422 of the Code); provided, however, that in the event that on the last day of the term of an Option or a Stock Appreciation Right, other than an Incentive Stock Option, (i) the exercise of the Option or Stock Appreciation
Right is prohibited by applicable law, or (ii) Shares may not be purchased, or sold by certain employees or directors of the Company due to the “black-out period” of a Company policy or a “lock-up” agreement undertaken in connection with an issuance of securities by the Company, the term of the Option 

  
 16 

 
or Stock Appreciation Right may be extended by the Committee for a period of up to thirty (30) days following the end of the legal prohibition,
black-out period or lock-up agreement, provided that such extension of the term of the Option or Stock Appreciation Right would not cause the Option or Stock
Appreciation Right to violate the requirements of Section 409A of the Code . 
 (c) Form and Timing of Payment Under Awards;
Deferrals. Subject to the terms of the Plan and any applicable Award Agreement, payments to be made by the Company or a Related Entity upon the exercise of an Option or other Award or settlement of an Award may be made in such forms as the
Committee shall determine, including, without limitation, cash, Shares, other Awards or other property, and may be made in a single payment or transfer, in installments, or on a deferred basis, provided that any determination to pay in installments
or on a deferred basis shall be made by the Committee at the date of grant. Any installment or deferral provided for in the preceding sentence shall, however, subject to the terms of the Plan, be subject to the Company’s compliance with the
provisions of the Sarbanes-Oxley Act of 2002, as amended, the rules and regulations adopted by the Securities and Exchange Commission thereunder, all applicable rules of the Listing Market and any other applicable law, and in a manner intended to be
exempt from or otherwise satisfy the requirements of Section 409A of the Code. Subject to Section 7(e) of this Plan, the settlement of any Award may be accelerated, and cash paid in lieu of Shares in connection with such settlement, in the
sole discretion of the Committee or upon occurrence of one or more specified events (in addition to a Change in Control). Any such settlement shall be at a value determined by the Committee in its sole discretion, which, without limitation, may in
the case of an Option or Stock Appreciation Right be limited to the amount if any by which the Fair Market Value of a Share on the settlement date exceeds the exercise or grant price. Installment or deferred payments may be required by the Committee
(subject to Section 7(e) of this Plan, including the consent provisions thereof in the case of any deferral of an outstanding Award not provided for in the original Award Agreement) or permitted at the election of the Participant on terms and
conditions established by the Committee. The acceleration of the settlement of any Award, and the payment of any Award in installments or on an deferred basis, all shall be done in a manner that is intended to be exempt from or otherwise satisfy the
requirements of Section 409A of the Code. The Committee may, without limitation, make provision for the payment or crediting of a reasonable interest rate on installment or deferred payments or the grant or crediting of Dividend Equivalents or
other amounts in respect of installment or deferred payments denominated in Shares. 
 (d) Exemptions from
Section 16(b) Liability. It is the intent of the Company that the grant of any Awards to or other transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt from
Section 16 pursuant to an applicable exemption (except for transactions acknowledged in writing to be non-exempt by such Participant). Accordingly, if any provision of this Plan or any Award Agreement
does not comply with the requirements of Rule 16b-3 then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable
requirements of Rule 16b-3 so that such Participant shall avoid liability under Section 16(b).  

  
 17 

 (e) Code Section 409A. 

(i) The Award Agreement for any Award that the Committee reasonably determines to constitute a “nonqualified deferred compensation
plan” under Section 409A of the Code (a “Section 409A Plan”), and the provisions of the Section 409A Plan applicable to that Award, shall be construed in a manner consistent with the
applicable requirements of Section 409A of the Code, and the Committee, in its sole discretion and without the consent of any Participant, may amend any Award Agreement (and the provisions of the Plan applicable thereto) if and to the extent
that the Committee determines that such amendment is necessary or appropriate to comply with the requirements of Section 409A of the Code. 

(ii) If any Award constitutes a Section 409A Plan, then the Award shall be subject to the following additional requirements, if and to
the extent required to comply with Section 409A of the Code: 
 (A) Payments under the Section 409A Plan may be made only upon
(u) the Participant’s “separation from service”, (v) the date the Participant becomes “disabled”, (w) the Participant’s death, (x) a “specified time (or pursuant to a fixed schedule)” specified in
the Award Agreement at the date of the deferral of such compensation, (y) a “change in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets” of the Company, or (z) the
occurrence of an “unforeseeble emergency”; 
 (B) The time or schedule for any payment of the deferred compensation may not be
accelerated, except to the extent provided in applicable Treasury Regulations or other applicable guidance issued by the Internal Revenue Service; 

(C) Any elections with respect to the deferral of such compensation or the time and form of distribution of such deferred compensation shall
comply with the requirements of Section 409A(a)(4) of the Code; and 
 (D) In the case of any Participant who is “specified
employee”, a distribution on account of a “separation from service” may not be made before the date which is six months after the date of the Participant’s “separation from service” (or, if earlier, the date of the
Participant’s death). 
 For purposes of the foregoing, the terms in quotations shall have the same meanings as those terms have for purposes of
Section 409A of the Code, and the limitations set forth herein shall be applied in such manner (and only to the extent) as shall be necessary to comply with any requirements of Section 409A of the Code that are applicable to the Award.

 (iii) Notwithstanding the foregoing, or any provision of this Plan or any Award Agreement, the Company does not make any representation
to any Participant or Beneficiary that any Awards made pursuant to this Plan are exempt from, or satisfy, the requirements of, Section 409A of the Code, and the Company shall have no liability or other obligation to indemnify or hold harmless
the Participant or any Beneficiary for any tax, additional tax, interest or penalties that the Participant or any Beneficiary may incur in the event that any provision of this Plan, or any Award Agreement, or any amendment or modification thereof,
or any other action taken with respect thereto, is deemed to violate any of the requirements of Section 409A of the Code. 

  
 18 

 8. Reserved. 

9. Change in Control. 

(a) Effect of “Change in Control.” If and only to the extent provided in any
employment or other agreement between the Participant and the Company or any Related Entity, or in any Award Agreement, or to the extent otherwise determined by the Committee in its sole discretion and without any requirement that each Participant
be treated consistently, and except as otherwise provided in Section 9(a)(iv) hereof, upon the occurrence of a “Change in Control,” as defined in Section 9(b): 

(i) Any Option or Stock Appreciation Right that was not previously vested and exercisable as of the time of the Change in Control, shall
become immediately vested and exercisable, subject to applicable restrictions set forth in Section 10(a) hereof. 
 (ii) Any
restrictions, deferral of settlement, and forfeiture conditions applicable to a Restricted Stock Award, Restricted Stock Unit Award or an Other Stock-Based Award subject only to future service requirements granted under the Plan shall lapse and such
Awards shall be deemed fully vested as of the time of the Change in Control, except to the extent of any waiver by the Participant and subject to applicable restrictions set forth in Section 10(a) hereof. 

(iii) With respect to any outstanding Award subject to achievement of performance goals and conditions under the Plan, the Committee may, in
its discretion, consider such Awards to have been earned and payable based on achievement of performance goals or based upon target performance (either in full or pro-rata based on the portion of the
Performance Period completed as of the Change in Control), except to the extent of any waiver by the Participant and subject to applicable restrictions set forth in Section 10(a). 

(iv) Except as otherwise provided in any employment or other agreement for services between the Participant and the Company or any Subsidiary,
and unless the Committee otherwise determines in a specific instance, each outstanding Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit Award or Other Stock-Based Award shall not be accelerated as described in Sections
9(a)(i), (ii) and (iii), if either (A) the Company is the surviving entity in the Change in Control and the Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit Award or Other Stock-Based Award continues to be
outstanding after the Change in Control on substantially the same terms and conditions as were applicable immediately prior to the Change in Control or (B) the successor company or its parent company assumes or substitutes for the applicable
Award, as determined in accordance with Section 10(c)(ii) of this Plan. 

  
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 (b) Definition of “Change in
Control”. Unless otherwise specified in any employment or other agreement for services between the Participant and the Company or any Related Entity, or in an Award Agreement, a “Change in Control”
shall mean the occurrence of any of the following: 
 (i) The acquisition by any Person of Beneficial Ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than fifty percent (50%) of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”) (the foregoing Beneficial Ownership hereinafter being referred to as a “Controlling Interest”); provided, however, that for purposes of this
Section 9(b), the following acquisitions shall not constitute or result in a Change in Control: (v) any acquisition directly from the Company; (w) any acquisition by the Company; (x) any acquisition by any Person that as of the
Effective Date owns Beneficial Ownership of a Controlling Interest; (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Related Entity; or (z) any acquisition by any entity
pursuant to a transaction which complies with clauses (1), (2) and (3) of subsection (iii) below; or 
 (ii) During any period of
two (2) consecutive years (not including any period prior to the Effective Date) individuals who constitute the Board on the Effective Date (the “Incumbent Board”) cease for any reason to constitute at least a majority
of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or
threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

(iii) Consummation of (A) a reorganization, merger, statutory share exchange or consolidation or similar transaction involving
(x) the Company or (y) any one or more Subsidiaries whose combined revenues for the prior fiscal year represented more than 50% of the consolidated revenues of the Company and its Subsidiaries for the prior fiscal year (the
“Major Subsidiaries”), or (B) a sale or other disposition of all or substantially all of the assets of the Company or the Major Subsidiaries, or the acquisition of assets or equity of another entity by the Company or any
of its Subsidiaries (each of the events referred to in clauses (A) and (B) sometimes hereinafter being referred to a “Business Combination”), unless, following such Business Combination, (1) all or
substantially all of the individuals and entities who were the Beneficial Owners, respectively, of the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty
percent (50%) of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of members of the board of directors (or comparable governing body of an entity that does not have such a board), as the
case may be, of the entity resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through
one or more subsidiaries) (the “Continuing Entity”) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Voting Securities, (excluding any
outstanding voting securities of the Continuing Entity that such Beneficial Owners hold immediately following the consummation of the Business Combination as a result of their ownership, prior to such consummation, of voting securities of any
company or other entity involved in or forming part of such Business Combination other than the Company), (2) no Person (excluding any employee benefit plan (or related trust) of the Company or any Continuing Entity or any entity controlled by the

  
 20 

 
Continuing Entity or any Person that as of the Effective Date owns Beneficial Ownership of a Controlling Interest) beneficially owns, directly or indirectly, fifty percent (50%) or more of the
combined voting power of the then outstanding voting securities of the Continuing Entity except to the extent that such ownership existed prior to the Business Combination, and (3) at least a majority of the members of the Board of Directors or
other governing body of the Continuing Entity were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

(iv) Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

Notwithstanding anything to the contrary herein, the term “Change in Control” shall not include the Domestication, nor any other sale of
assets, a merger or other transaction effected exclusively for the purpose of changing the domicile of the Company, or an initial public offering underwritten on a firm commitment basis pursuant to a registration statement filed with the Securities
Exchange Commission. 
 10. General Provisions. 

(a) Compliance With Legal and Other Requirements. The Company may, to the extent deemed necessary or advisable by the Committee,
postpone the issuance or delivery of Shares or payment of other benefits under any Award until completion of such registration or qualification of such Shares or other required action under any federal or state law, rule or regulation, listing or
other required action with respect to the Listing Market, or compliance with any other obligation of the Company, as the Committee, may consider appropriate, and may require any Participant to make such representations, furnish such information and
comply with or be subject to such other conditions as it may consider appropriate in connection with the issuance or delivery of Shares or payment of other benefits in compliance with applicable laws, rules, and regulations, listing requirements, or
other obligations. 
 (b) Limits on Transferability; Beneficiaries. No Award or other right or interest granted under the Plan
shall be pledged, hypothecated or otherwise encumbered or subject to any lien, obligation or liability of such Participant to any party, or assigned or transferred by such Participant otherwise than by will or the laws of descent and distribution or
to a Beneficiary upon the death of a Participant, and such Awards or rights that may be exercisable shall be exercised during the lifetime of the Participant only by the Participant or his or her guardian or legal representative, except that Awards
and other rights (other than Incentive Stock Options and Stock Appreciation Rights in tandem therewith) may be transferred to one or more Beneficiaries or other transferees during the lifetime of the Participant, and may be exercised by such
transferees in accordance with the terms of such Award, but only if and to the extent such transfers are permitted by the Committee pursuant to the express terms of an Award Agreement (subject to any terms and conditions which the Committee may
impose thereon), are by gift or pursuant to a domestic relations order, and are to a “Permitted Assignee” that is a permissible transferee under the applicable rules of the Securities and Exchange Commission for registration of securities
on a Form S-8 registration statement. For this purpose, a Permitted Assignee shall mean (i) the Participant’s spouse, children or grandchildren (including any adopted and step children or
grandchildren), parents, grandparents or siblings, (ii) a trust for the 

  
 21 

 
benefit of one or more of the Participant or the persons referred to in clause (i), (iii) a partnership, limited liability company or corporation in which the Participant or the persons referred
to in clauses (i) and (ii) are the only partners, members or shareholders, or (iv) a foundation in which any person or entity designated in clauses (i), (ii) or (iii) above control the management of assets. A Beneficiary, transferee,
or other person claiming any rights under the Plan from or through any Participant shall be subject to all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise determined by the Committee, and
to any additional terms and conditions deemed necessary or appropriate by the Committee. 
 (c) Adjustments. 

(i) Adjustments to Awards. In the event that any extraordinary dividend or other distribution (whether in the form of cash,
Shares, or other property), recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange, liquidation, dissolution or other similar
corporate transaction or event affects the Shares and/or such other securities of the Company or any other issuer, then the Committee shall, in such manner as it may deem appropriate and equitable, substitute, exchange or adjust any or all of
(A) the number and kind of Shares which may be delivered in connection with Awards granted thereafter, (B) the number and kind of Shares by which annual per-person Award limitations are measured
under Section 4 hereof, (C) the number and kind of Shares subject to or deliverable in respect of outstanding Awards, (D) the exercise price, grant price or purchase price relating to any Award and/or make provision for payment of
cash or other property in respect of any outstanding Award, and (E) any other aspect of any Award that the Committee determines to be appropriate in order to prevent the reduction or enlargement of benefits under any Award. 

(ii) Adjustments in Case of Certain Transactions. In the event of any merger, consolidation or other reorganization in which the
Company does not survive, or in the event of any Change in Control (and subject to the provisions of Section 9 of this Plan relating to the vesting of Awards in the event of any Change in Control), any outstanding Awards may be dealt with in
accordance with any of the following approaches, without the requirement of obtaining any consent or agreement of a Participant as such, as determined by the agreement effectuating the transaction or, if and to the extent not so determined, as
determined by the Committee: (A) the continuation of the outstanding Awards by the Company, if the Company is a surviving entity, (B) the assumption or substitution for, as those terms are defined below, the outstanding Awards by the
surviving entity or its parent or subsidiary, (C) full exercisability or vesting and accelerated expiration of the outstanding Awards, or (D) settlement of the value of the outstanding Awards in cash or cash equivalents or other property
followed by cancellation of such Awards (which value, in the case of Options or Stock Appreciation Rights, shall be measured by the amount, if any, by which the Fair Market Value of a Share exceeds the exercise or grant price of the Option or Stock
Appreciation Right as of the effective date of the transaction). For the purposes of this Plan, an Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit Award, Performance Award or Other Stock-Based Award shall be
considered assumed or substituted for if following the applicable transaction the Award confers the right to purchase or receive, for each Share subject to the Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit Award,
Performance Award or Other 

  
 22 

 
Stock-Based Award immediately prior to the applicable transaction, on substantially the same vesting and other terms and conditions as were applicable to the Award immediately prior to the
applicable transaction, the consideration (whether stock, cash or other securities or property) received in the applicable transaction by holders of Shares for each Share held on the effective date of such transaction (and if holders were offered a
choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the applicable transaction is not solely common stock of the successor
company or its parent or subsidiary, the Committee may, with the consent of the successor company or its parent or subsidiary, provide that the consideration to be received upon the exercise or vesting of an Option, Stock Appreciation Right,
Restricted Stock Award, Restricted Stock Unit Award, Performance Award or Other Stock-Based Award, for each Share subject thereto, will be solely common stock of the successor company or its parent or subsidiary substantially equal in fair market
value to the per share consideration received by holders of Shares in the applicable transaction. The determination of such substantial equality of value of consideration shall be made by the Committee in its sole discretion and its determination
shall be conclusive and binding. The Committee shall give written notice of any proposed transaction referred to in this Section 10(c)(ii) a reasonable period of time prior to the closing date for such transaction (which notice may be given
either before or after the approval of such transaction), in order that Participants may have a reasonable period of time prior to the closing date of such transaction within which to exercise any Awards that are then exercisable (including any
Awards that may become exercisable upon the closing date of such transaction). A Participant may condition his or her exercise of any Awards upon the consummation of the transaction. 

(iii) Other Adjustments. The Committee or the Board is authorized to make adjustments in the terms and conditions of, and the
criteria included in, Awards (including Awards subject to satisfaction of performance goals, or performance goals and conditions relating thereto) in recognition of unusual or nonrecurring events (including, without limitation, acquisitions and
dispositions of businesses and assets) affecting the Company, any Related Entity or any business unit, or the financial statements of the Company or any Related Entity, or in response to changes in applicable laws, regulations, accounting
principles, tax rates and regulations or business conditions or in view of the Committee’s assessment of the business strategy of the Company, any Related Entity or business unit thereof, performance of comparable organizations, economic and
business conditions, personal performance of a Participant, and any other circumstances deemed relevant. 
 (d) Award
Agreements. Each Award Agreement shall either be (a) in writing in a form approved by the Committee and executed by the Company by an officer duly authorized to act on its behalf, or (b) an electronic notice in a form approved by
the Committee and recorded by the Company (or its designee) in an electronic recordkeeping system used for the purpose of tracking one or more types of Awards as the Committee may provide; in each case and if required by the Committee, the Award
Agreement shall be executed or otherwise electronically accepted by the recipient of the Award in such form and manner as the Committee may require. The Committee may authorize any officer of the Company to execute any or all Award Agreements on
behalf of the Company. The Award Agreement shall set forth the material terms and conditions of the Award as established by the Committee consistent with the provisions of the Plan. 

  
 23 

 (e) Taxes. The Company and any Related Entity are authorized to withhold from
any Award granted, any payment relating to an Award under the Plan, including from a distribution of Shares, or any payroll or other payment to a Participant, amounts of withholding and other taxes due or potentially payable in connection with any
transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company or any Related Entity and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations
relating to any Award. This authority shall include authority to withhold or receive Shares or other property and to make cash payments in respect thereof in satisfaction of a Participant’s tax obligations, either on a mandatory or elective
basis in the discretion of the Committee. The amount of withholding tax paid with respect to an Award by the withholding of Shares otherwise deliverable pursuant to the Award or by delivering Shares already owned shall not exceed the maximum
statutory withholding required with respect to that Award (or such other limit as the Committee shall impose, including without limitation, any limit imposed to avoid or limit any financial accounting expense relating to the Award). 

(f) Changes to the Plan and Awards. The Board may amend, alter, suspend, discontinue or terminate the Plan, or the
Committee’s authority to grant Awards under the Plan, without the consent of shareholders or Participants, except that any amendment or alteration to the Plan shall be subject to the approval of the Company’s shareholders not later than
the annual meeting next following such Board action if such shareholder approval is required by any federal or state law or regulation (including, without limitation, Rule 16b-3) or the rules of the Listing
Market, and the Board may otherwise, in its discretion, determine to submit other such changes to the Plan to shareholders for approval; provided that, except as otherwise permitted by the Plan or Award Agreement, without the consent of an affected
Participant, no such Board action may materially and adversely affect the rights of such Participant under the terms of any previously granted and outstanding Award. The Committee may waive any conditions or rights under, or amend, alter, suspend,
discontinue or terminate any Award theretofore granted and any Award Agreement relating thereto, except as otherwise provided in the Plan; provided that, except as otherwise permitted by the Plan or Award Agreement, without the consent of an
affected Participant, no such Committee or the Board action may materially and adversely affect the rights of such Participant under terms of such Award. 

(g) Clawback of Benefits. 

(i) The Company may (A) cause the cancellation of any Award, (B) require reimbursement of any Award by a Participant or Beneficiary,
and (C) effect any other right of recoupment of equity or other compensation provided under this Plan or otherwise in accordance with any Company policies that currently exist or that may from time to time be adopted or modified in the future
by the Company and/or applicable law (each, a “Clawback Policy”). In addition, a Participant may be required to repay to the Company certain previously paid compensation, whether provided under this Plan or an Award Agreement
or otherwise, in accordance with any Clawback Policy. By accepting an Award, a Participant is also agreeing to be bound by any existing or future Clawback Policy adopted by the Company, or any amendments that may from time to time be made to the
Clawback Policy in the future by the Company in its discretion (including without limitation any Clawback Policy adopted or amended to comply with applicable laws or stock exchange requirements) and is further agreeing that all of the
Participant’s Award Agreements may be unilaterally amended by the Company, without the Participant’s consent, to the extent that the Company in its discretion determines to be necessary or appropriate to comply with any Clawback Policy.

  
 24 

 (ii) If the Participant, without the consent of the Company, while employed by or providing
services to the Company or any Related Entity or after termination of such employment or service, violates a non-competition, non-solicitation or non-disclosure covenant or agreement or otherwise engages in activity that is in conflict with or adverse to the interest of the Company or any Related Entity, as determined by the Committee in its sole discretion,
then (i) any outstanding, vested or unvested, earned or unearned portion of the Award may, at the Committee’s discretion, be canceled and (ii) the Committee, in its discretion, may require the Participant or other person to whom any
payment has been made or Shares or other property have been transferred in connection with the Award to forfeit and pay over to the Company, on demand, all or any portion of the gain (whether or not taxable) realized upon the exercise of any Option
or Stock Appreciation Right and the value realized (whether or not taxable) on the vesting or payment of any other Award during the time period specified in the Award Agreement or otherwise specified by the Committee. 

(g) Limitation on Rights Conferred Under Plan. Neither the Plan nor any action taken hereunder or under any Award shall be
construed as (i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company or a Related Entity; (ii) interfering in any way with the right of the Company
or a Related Entity to terminate any Eligible Person’s or Participant’s Continuous Service at any time, (iii) giving an Eligible Person or Participant any claim to be granted any Award under the Plan or to be treated uniformly with
other Participants and Employees, or (iv) conferring on a Participant any of the rights of a shareholder of the Company or any Related Entity including, without limitation, any right to receive dividends or distributions, any right to vote or
act by written consent, any right to attend meetings of shareholders or any right to receive any information concerning the Company’s or any Related Entity’s business, financial condition, results of operation or prospects, unless and
until such time as the Participant is duly issued Shares on the stock books of the Company or any Related Entity in accordance with the terms of an Award. None of the Company, its officers or its directors shall have any fiduciary obligation to the
Participant with respect to any Awards unless and until the Participant is duly issued Shares pursuant to the Award on the stock books of the Company in accordance with the terms of an Award. Neither the Company, nor any Related Entity, nor any of
their respective officers, directors, representatives or agents is granting any rights under the Plan to the Participant whatsoever, oral or written, express or implied, other than those rights expressly set forth in this Plan or the Award
Agreement. 
 (h) Unfunded Status of Awards; Creation of Trusts. The Plan is intended to constitute an “unfunded”
plan for incentive and deferred compensation. With respect to any payments not yet made to a Participant or obligation to deliver Shares pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give any such Participant any
rights that are greater than those of a general creditor of the Company or Related Entity that issues the Award; provided that the Committee may authorize the creation of trusts and deposit therein cash, Shares, other Awards or other property, or
make other arrangements to meet the obligations of the Company or Related Entity under the Plan. Such trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise determines with
the consent of each affected Participant. The trustee of such trusts may be authorized to dispose of trust assets and reinvest the proceeds in alternative investments, subject to such terms and conditions as the Committee may specify and in
accordance with applicable law. 

  
 25 

 (i) Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board
nor its submission to the shareholders of the Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements as it may deem desirable. 

(j) Payments in the Event of Forfeitures; Fractional Shares. Unless otherwise determined by the Committee, in the event of a
forfeiture of an Award with respect to which a Participant paid cash or other consideration, the Participant shall be repaid the amount of such cash or other consideration. No fractional Shares shall be issued or delivered pursuant to the Plan or
any Award. The Committee shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated. 

(k) Governing Law. Except as otherwise provided in any Award Agreement, the validity, construction and effect of the Plan, any
rules and regulations under the Plan, and any Award Agreement shall be determined in accordance with (i) prior to the Domestication, the laws of the British Virgin Islands, and (ii) after the Domestication, the laws of the State of
Delaware, in each case, without giving effect to principles of conflict of laws, and applicable federal law. 
 (l) Foreign
Laws. The Committee shall have the authority to adopt such modifications, procedures, and subplans as may be necessary or desirable to comply with provisions of the laws of foreign countries in which the Company or its Related Entities may
operate to assure the viability of the benefits from Awards granted to Participants performing services in such countries and to meet the objectives of the Plan. 

(m) Plan Effective Date; Termination of Plan. The Plan shall become effective on the Effective Date. The Plan shall terminate at
the earliest of (a) such time as no Shares remain available for issuance under the Plan, (b) termination of this Plan by the Board, or (c) the tenth anniversary of the Effective Date. Awards outstanding upon expiration of the Plan
shall remain in effect until they have been exercised or terminated, or have expired. 
 (n) Construction and Interpretation.
Whenever used herein, nouns in the singular shall include the plural, and the masculine pronoun shall include the feminine gender. Headings of Articles and Sections hereof are inserted for convenience and reference and constitute no part of the
Plan. 
 (o) Severability. If any provision of the Plan or any Award Agreement shall be determined to be illegal or
unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. 

  
 26Exhibit 10.1

SANCTION
                                         AGREEMENTNASCAR CUP SERIESEVENT DATE: May 16, 2021 or May 23, 2021PROMOTER: Dover International
                                         Speedway, Inc.FACILITY: Dover International Speedway

     

     

    

 

SANCTION
                                         AGREEMENTThis Sanction Agreement ("Agreement") between NASCAR Event Management, LLC (“NEM”),
                                         a corporation with its principal offices located in Daytona Beach, Florida, and PROMOTER
                                         (identified on Exhibit 1 to this Agreement), is entered into and is effective upon full
                                         execution by the parties below (“Effective Date”).RECITALSWHEREAS NEM has
                                         been authorized by the National Association for Stock Car Auto Racing, Inc. (hereinafter
                                         “NASCAR”) to grant certain NASCAR-owned and/or NASCAR-controlled rights that
                                         are specified in this Agreement to PROMOTER; andWHEREAS, NEM sanctions and conducts,
                                         among other things, stock car racing competition throughout the world; andWHEREAS, PROMOTER
                                         owns and/or controls the Facility (as hereinafter defined); andWHEREAS, PROMOTER wishes
                                         to have NEM grant a sanction and conduct stock car racing competition as part of the
                                         2021 NASCAR Cup Series, at the Facility; andWHEREAS, NEM is willing to grant a sanction
                                         and to conduct such events for the 2021 season in accordance with the terms of this Agreement;WHEREAS,
                                         PROMOTER and NEM are desirous of continuing to enhance and elevate the stature of the
                                         Series, as well as the individual events that are a part of the Series. Among other things,
                                         this includes how the Series is presented at each event, how events are perceived by
                                         fans and stakeholders, and how events individually and collectively measure up against
                                         comparable world-class sports events. NEM recognizes that each racetrack and event may
                                         have its own unique identity, traditions and local considerations. In addition, there
                                         are expectations from fans, partners, participants, and industry stakeholders that each
                                         event will also have appropriate elements of commonality, continuity and consistency
                                         representative of the Series as a whole.NOW, THEREFORE, NEM and PROMOTER, in consideration
                                         of the mutual promises set forth below, and intending to be legally bound, agree as follows:AGREEMENT1.
                                         Definitions. In addition to the definitions of words that may appear in other locations
                                         in this Agreement, including the Recitals above, the following words have the following
                                         meanings when used in this Agreement:a) "Additional Awards" means any monetary or non-monetary
                                         award by, or contracted through, PROMOTER, for distribution based upon each Event, other
                                         than (i) purse, (ii) point fund, and (iii) any applicable Plan awards.b) "Ancillary Rights"
                                         means (i) any and all rights to film, tape, photograph, capture, overhear, collect or
                                         record, and to simultaneously or thereafter reproduce, broadcast, transmit or distribute,
                                         by any means, process, medium or device, whether or not currently in existence, all images,
                                         sounds and electronic data generated during and in connection with the Events, and (ii)
                                         any and all copyrights and all other intellectual property and proprietary rights worldwide
                                         in and to such images, sounds and electronic data, any recording, broadcast or transmission
                                         thereof, and any work derived therefrom, provided, however, that "Ancillary Rights" does
                                         not include "Live Transmission Rights" or rights in or to NASCAR Intellectual Property,
                                         PROMOTER intellectual property, or third party marks. Ancillary Rights consist of “Primary
                                         Ancillary Rights” andPage 2 of 28

     

     

    

 

“Secondary
                                         Ancillary Rights” as defined herein. NEM shall make all final determinations as
                                         to whether rights are designated as Primary or Secondary Ancillary Rights, including
                                         but not limited to the rights created by new media and/or technologies. All such final
                                         determinations shall be made by NEM in good faith.c) “Ancillary Rights Net Income
                                         before Industry Expenses and after Income Tax Provision” means the aggregate of
                                         the Primary Ancillary Rights Net Income before Industry Expenses and after Income Tax
                                         Provision and the Secondary Ancillary Rights Net Income before Industry Expenses and
                                         after Income Tax Provision.d) “Calendar” means the calendar of events for
                                         the Series in a given calendar year, as it may be adjusted by NEM per this Agreement.e)
                                         "Competition" means that portion of an Event during which the actual NASCAR Cup Series
                                         racing competition and all competitive activity related thereto occurs, including, but
                                         not limited to, the operational aspects of pre-race ceremonies, and race hauler parking,
                                         registration, inspections, time trials, practice runs, pre-race meetings, the race(s),
                                         victory lane, post-race inspections, either on the date(s) specified in Exhibit 1 hereto
                                         or on any postponed dates.f) "Competitor" has the same meaning as that term has in the
                                         Rule Book.g) "Event" means each Competition listed on Exhibit 1 to this Agreement and
                                         all other activity at the Facility during the period of time commencing 48 hours prior
                                         to the beginning of registration for the Competition and ending 24 hours after such Competition.h)
                                         "Event Transmission Income" means the amount attributable to the NASCAR Cup Series calculated
                                         by multiplying the percentage listed in Exhibit 1 of this Agreement by all Live Transmission
                                         Income received by NEM or the NASCAR Rights Affiliate(s) pursuant to Live Transmission
                                         Contract(s) during the calendar year in which an Event is held.i) "Event Primary Ancillary
                                         Rights Net Income" means the amount attributable to the NASCAR Cup Series calculated
                                         by multiplying the percentage set forth in Exhibit 1 of this Agreement by Primary Ancillary
                                         Rights Net Income before Industry Expenses and after Income Tax Provision earned during
                                         the calendar year in which an Event is held.j) “Event Secondary Ancillary Rights
                                         Net Income” means the amount attributable to the NASCAR Cup Series calculated by
                                         multiplying the percentage set forth in Exhibit 1 of this Agreement by Secondary Ancillary
                                         Rights Net Income before Industry Expenses and after Income Tax Provision earned during
                                         the calendar year in which an Event is held.k) "Facility" means the racetrack listed
                                         on Exhibit 1 to this Agreement, the premises upon which the racetrack is located and
                                         surrounding the racetrack, all buildings and other structures thereon, and all airspace
                                         above the racetrack and surrounding premises, to the extent owned or controlled by PROMOTER.l)
                                         “Fiber Optic Connectivity” means the existing permanently installed fiber
                                         optic cabling that will be used to connect critical services required by NASCAR Rights
                                         Affiliates, NEM and media. NEM and NASCAR Rights Affiliates will provide PROMOTER with
                                         a detailed specification as to the kind and quality of fiber optic cable and connectors
                                         to be provided and detailed location points for access. In the event that an upgrade
                                         to the Fiber Optic Connectivity is requested by NEM, then NEM agrees to discuss with
                                         PROMOTER the purpose and need for such upgrade, and a plan of implementation prior to
                                         providing PROMOTER a timeline.m) "Live Transmission" means the live transmission, distribution
                                         or exhibition of the performance of a NASCAR Cup Series event, and any replay(s) thereof,
                                         by any means, process, medium,Page 3 of 28

     

     

    

 

distribution
                                         platform, method or device, whether now known or hereafter developed, including, without
                                         limitation, by broadcast television signal, cable television signal, Direct Broadcast
                                         Satellite, the Internet, and/or could be offered to consumers on a Pay Per View or subscription
                                         basis etc. within the United States, its territories, possessions and commonwealths,
                                         plus Bermuda.n) "Live Transmission Rights" means any and all rights to engage in a Live
                                         Transmission and directly related activity (for example, delayed transmissions, single
                                         re-transmissions, and support shoulder programming.) For clarity, and without limiting
                                         the foregoing, Live Transmission Rights include the right to offer the Live Transmission
                                         Rights of an Event to mobile devices, tablets, computers, connected TVs, virtual reality
                                         viewing devices, hologram viewing devices, etc. For further clarity, without limiting
                                         the foregoing, the Live Transmission Rights of an Event could be included as part of
                                         what is commonly known as a “TV Everywhere offering,” and/or could be offered
                                         directly to consumers or delivered as part of any other type of offering now known or
                                         hereafter developed.o) "Live Transmission Contract" means any contract, agreement or
                                         other enforceable obligation, whether oral or written, entered into between NEM or a
                                         NASCAR Rights Affiliate and any other entity or entities, for the license, assignment
                                         or other transfer of any Live Transmission Rights. By way of illustration only, as of
                                         the Effective Date, NBC Universal Media LLC and Fox Broadcasting Company/Fox Cable Networks,
                                         Inc. are both parties to Live Transmission Contracts.p) "Live Transmission Income" means
                                         all monies actually received by NEM or a NASCAR Rights Affiliate pursuant to a Live Transmission
                                         Contract and attributed by NEM or a NASCAR Rights Affiliate to the Live Transmission
                                         of NASCAR Cup Series events during the calendar year in which an Event is held.q) “NEM”
                                         means NASCAR Event Management, LLC which has been authorized by the National Association
                                         for Stock Car Auto Racing, Inc. (“NASCAR”) to grant certain NASCAR-owned
                                         and/or NASCAR-controlled rights to PROMOTER and perform certain obligations that are
                                         specified in this Agreement.r) "NASCAR Intellectual Property" means all trademarks, service
                                         marks, trade names, patents, copyrights, domain names, trade dress and the like owned
                                         by NASCAR, excluding Live Transmission Rights and Ancillary Rights and any work derived
                                         therefrom.s) "NASCAR Rights Affiliate" means any corporation, partnership or other legal
                                         entity that is (1) an affiliate or an assignee of NASCAR or controlled, directly or indirectly
                                         by NASCAR, and (2) engaged in the business of exploiting Live Transmission Rights or
                                         Ancillary Rights for purposes of generating Live Transmission Income and Ancillary Rights
                                         Net Income before Industry Expenses and after Income Tax Provision and performing all
                                         necessary activities incident thereto. NEM may arrange for, coordinate, supervise, determine,
                                         and/or control certain Event- related activity related to the immediately preceding,
                                         and/or act in other capacities relative to the Live Transmission Rights or Ancillary
                                         Rights as specified elsewhere in this Agreement, but NEM is not a NASCAR Rights Affiliate.t)
                                         "Official" means "Officials" and "Supervisory Officials" as those terms are defined in
                                         the Rule Book.u) “Primary Ancillary Rights” means any Ancillary Rights that
                                         are primarily or exclusively exploited directly in connection with the following Primary
                                         Ancillary Rights businesses:i) Production services offered in connection with the live
                                         performance of an Event including without limitation:Page 4 of 28

     

     

    

 

1.
                                         Operation and provision of broadcast compound services at the Facility2. Capture and
                                         collection of audio-visual footage and other content3. Production of Event related programming
                                         for Live Transmission Contract partners and othersii) Indirect and/or offsite production
                                         services (e.g., Race Hub program, studio leasing)iii) Production of non-national series
                                         and other eventsiv) Other programming production services (e.g., Nickelodeon, documentaries,
                                         etc.)v) Production, distribution, sale or license of feeds of, or rights to, the Events
                                         for Live Transmission outside of the United States, its territories, possessions and
                                         commonwealths, plus Bermudavi) Maintenance of audio-visual footage and photographs generated
                                         during Events including, without limitation, licensing to Live Transmission Contract
                                         partners and othersvii) Licensing of audio content for satellite radio transmission;viii)
                                         Non-production services or activities provided by a NASCAR Rights Affiliate(s) for third-
                                         party entertainment projects.Notwithstanding that Primary Ancillary Rights may include
                                         elements of or derived directly or indirectly from the Live Transmission of an Event,
                                         “Primary Ancillary Rights” does not include “Live Transmission Rights,”
                                         or “Secondary Ancillary Rights” or rights in or to NASCAR Intellectual Property
                                         or third party marks.v) “Primary Ancillary Rights Net Income before Industry Expenses
                                         and after Income Tax Provision” means the aggregate gross revenue earned by all
                                         NASCAR Rights Affiliates, during the calendar year in which an Event is held as a result
                                         of the exploitation of Primary Ancillary Rights, reduced by the aggregate of all reasonable
                                         deductions of all NASCAR Rights Affiliates related to Primary Ancillary Rights, including
                                         but not limited to ordinary business expenses, amortization, depreciation and federal,
                                         foreign and state income withholding and property taxes; provided however, that in no
                                         event shall Primary Ancillary Rights Net Income before Industry Expenses and after Income
                                         Tax Provision include Live Transmission Income or income, revenue or any other consideration
                                         received or generated by NASCAR or NEM for the license of, assignment of, or other transfer
                                         or rights in or to, any NASCAR Intellectual Property, including without limitation transfers
                                         in connection with the sale, advertising or promotion by NEM, NASCAR or any third party
                                         of products or services of any nature.w) “Entitlement Sponsor” means any
                                         and all Event entitlement sponsors or entities, any and all Event presenting sponsors
                                         or entities, and any and all names or designations created by PROMOTER or a sponsor of
                                         PROMOTER which designate the official Event title, whether pre- existing at the time
                                         of the execution of this Agreement or proposed thereafter, relative to the NEM-sanctioned
                                         Competition(s) that are part of an Event.x) "Rule Book" means the Rule Book published
                                         by NASCAR for NASCAR Cup Series events that is in effect at the time of an Event, and
                                         any amendments thereto and other special rules published by NEM, subject to NASCAR’s
                                         approval, specifically for an Event.Page 5 of 28

     

     

    

 

y)
                                         “Secondary Ancillary Rights” means any Ancillary Rights other than those
                                         primarily or exclusively exploited as Primary Ancillary Rights that are exploited directly
                                         in connection with the following, Secondary Ancillary Rights businesses including without
                                         limitation:i) NASCAR.com and all NASCAR owned and/or operated digital offerings via any
                                         platform now known or hereafter developed;ii) Licensing and otherwise exploiting highlight
                                         footage and other audio-visual content on third party digital platforms;iii) Except as
                                         stipulated in Radio Rights Addendum to this Agreement, if applicable, and with the exception
                                         of satellite radio, the license of audio content to third parties;iv) The license of
                                         Ancillary Rights as part of fantasy games and similar content offered on NASCAR platforms
                                         and/or third party platformsNotwithstanding that Secondary Ancillary Rights may include
                                         elements of, or be derived directly or indirectly from, the Live Transmission of an Event,
                                         Secondary Ancillary Rights does not include Live Transmission Rights, Primary Ancillary
                                         Rights or rights in or to NASCAR Intellectual Property or third party marks.z) “Secondary
                                         Ancillary Rights Net Income before Industry Expenses and after Income Tax Provision”
                                         means the aggregate gross revenue earned by all NASCAR Rights Affiliates, during the
                                         calendar year in which an Event is held, as a result of the exploitation of Secondary
                                         Ancillary Rights, reduced by the aggregate of all reasonable deductions of all NASCAR
                                         Ancillary Rights Affiliates related to Secondary Ancillary Rights, including but not
                                         limited to ordinary business expenses, amortization, depreciation and federal, foreign
                                         and state income withholding and property taxes; provided, however, that in no event
                                         shall Secondary Ancillary Rights Net Income before Industry Expenses and after Income
                                         Tax Provision include Live Transmission Income or income, revenue or any other consideration
                                         received or generated by NASCAR or NEM for the license of, assignment of, or other transfer
                                         or rights in or to, any NASCAR Intellectual Property, including without limitation transfers
                                         in connection with the sale, advertising or promotion by NEM, NASCAR or any third party
                                         of products or services of any nature.aa) “Series” means the NASCAR Cup Series,
                                         or any future modified, altered, changed or replaced name for the NASCAR Cup Series per
                                         Section 24.bb) “Series Logo(s)” means the Series logo by itself, or, the
                                         alternative Series logo employed by NASCAR in its reasonable discretion which may include
                                         multiple NASCAR and PROMOTER Premier Series sponsor logos, provided that, any use of
                                         an alternative Series logo may or may not include any Premier sponsor logo(s) which is
                                         not a sponsor for such Facility and has not executed a Premier sponsor agreement for
                                         the Event.NEM'S GENERAL OBLIGATIONS2. Sanction For Events. NEM hereby grants a sanction
                                         to PROMOTER for each Competition. So long as this Agreement is in effect and not terminated,
                                         PROMOTER shall organize, promote and hold each Event, including the Competition, in accordance
                                         with this Agreement.3. Conduct and Control Over Competition. NEM shall conduct the Competition,
                                         through its officers and designated Officials, in accordance with the Rule Book, this
                                         Agreement, the Official Entry Blank, and any amendments to the Rule Book and/or the Official
                                         Entry Blank. NEM shall have sole control over the conduct of the Competition in all of
                                         its phases, including, but not limited to, control of the racing surface, pits and pit
                                         lane, garage area, and NASCAR race control during all Competition-related activities,
                                         throughout the Event. Interpretation andPage 6 of 28

     

     

    

 

application
                                         of the Rule Book are committed to NEM’s sole discretion, and are final and unreviewable
                                         except to the extent provided in the Rule Book. PROMOTER shall cooperate fully with NEM
                                         to permit it to conduct the Competition in accordance with this Agreement and the Rule
                                         Book.4. Postponement. NEM will consult with PROMOTER regarding postponement of a Competition,
                                         but the decision to postpone a Competition and the selection of the postponed date will
                                         be made by NEM and will be binding on PROMOTER. PROMOTER shall not publish or otherwise
                                         announce a postponement of the Competition and/or a postponed date for the Competition
                                         without the prior written approval of NEM. If PROMOTER makes such a publication or announcement
                                         without NEM’s prior written approval, it shall not be binding upon NEM or NASCAR
                                         and PROMOTER shall hold NEM and NASCAR harmless for any and all expense, loss or damage
                                         caused by such publication or announcement.5. Event Date. As provided in Exhibit 1 to
                                         this Agreement, NEM will notify Promoter in writing of the Event date on or before June
                                         30th, 2020. The parties agree that the Event date shall be confidential until NEM announces
                                         the 2021 Series schedule.6. Adjustments to Enhance the Series and/or for the Orderly
                                         Conduct of the Sport. If and when a significant opportunity arises, NEM will advise and
                                         consult with PROMOTER as far in advance as practical regarding that opportunity and advise
                                         of any possible direct bearing on the Event(s) in this Agreement. NEM in its sole discretion
                                         will make any adjustments it deems necessary to enhance the Series and/or the Competition.
                                         Notwithstanding the foregoing, NEM may make routine adjustments necessary for the orderly
                                         conduct of the sport including, but not limited to: adjustments to Competitor award programs;
                                         adjustments to practice and qualifying procedures; adjustments to Event schedules, adjustments
                                         to race formats including, but not limited to, the distance of the race; adjustments
                                         to Event operational standards and/or other standards specified in existing Exhibits
                                         to this Agreement as industry standards change; adjustments to Event insurance requirements;
                                         adjustments to the type of fuel used in the racecars; adjustments to NASCAR testing policies;
                                         and so on.PROMOTER'S GENERAL OBLIGATIONS7. Control and Maintenance of the Facility. PROMOTER
                                         represents and warrants that, in connection with each Event, it currently has and will
                                         maintain sole control of the Facility, and that it has and will maintain full authority
                                         to permit each Event to be conducted at the Facility. PROMOTER shall maintain the Facility
                                         in good repair at all times relevant to the Event, ready for use by Competitors, Officials,
                                         NASCAR, NEM, sponsors, and persons or entities involved in the Live Transmission of or
                                         creation or exploitation of Ancillary Rights at the Event. PROMOTER is solely responsible
                                         and liable for the safety of such persons while on, entering or leaving the Facility.
                                         PROMOTER warrants that the Facility is and will remain in a condition suitable for each
                                         Event, that the racing surface of the track will not be substantially altered or changed
                                         (whether by painting, sealing, resurfacing or otherwise) without the prior written consent
                                         of NEM and that the PROMOTER will advise NEM in writing in advance of any and all planned
                                         improvements or alterations to those portions of the Facility that are related to the
                                         Competition. If NEM determines that an NEM test is required at the Facility, and the
                                         Facility is available on the selected date(s), then PROMOTER shall make all necessary
                                         arrangements as required by NEM. Incremental costs, if any, to meet NEM requirements
                                         in regards to track and/or emergency response personnel, medical, and other staffing/equipment
                                         necessitated by the test, and/or an extraordinary cost (such as lighting if it is a night
                                         test), shall be identified and agreed to by both parties in advance, and shall not exceed
                                         normal market value. PROMOTER shall not charge NEM, NASCAR, Competitors or any third
                                         party vendors directly involved in the test a track rental fee or any other fees, except
                                         as described in the immediately preceding sentence. Unless approved by NEM in writing
                                         in advance, tests shall not be open to the public. If PROMOTER agrees to bear all the
                                         test-related incremental costs described above and any and all other costs PROMOTER may
                                         have related to advertising, promotion, ticketing, security for the public, etc. for
                                         the test, then NEM shall allow the test to be open to the public as follows: public access
                                         shall not include the garage area, pit lane or other restricted areas unless authorized
                                         in advance by NEM; PROMOTER may submit for advanced NEM approval designation of a restricted
                                         fan area in areas of the garage not needed for the test; PROMOTER may submit for advanced
                                         NEM approval certain restricted public access to the working areas of the garage during
                                         designated “cold” times or meal break. The maximum number of NEM tests which
                                         may be required during the term of this Agreement shall not exceed two (2), unless otherwise
                                         agreed to by PROMOTER and NEM. NEM test(s), if required, do not preclude or prevent other
                                         testing at the Facility scheduled by the PROMOTER, as long as such other testing is conducted
                                         in strict accordance with all NASCAR Testing Policies in effect at that time. NEM will
                                         providePage 7 of 28

     

     

    

 

PROMOTER
                                         with a copy of the applicable 2021 Testing Policies when they become available and also
                                         make PROMOTER aware of any future amendments that occur during the Term of this Agreement.8.
                                         Repairs and Upgrades to the Facility. Upon request, PROMOTER shall provide NEM or its
                                         designated representative(s) full access to the Facility. If NEM determines that the
                                         Facility or any part of it is in a condition unsatisfactory for an Event, including without
                                         limitation the surface of the racetrack, barriers, fencing, retaining systems, SAFER
                                         barrier systems, the garage area, the pit area, race control, timing and scoring areas,
                                         registration areas, Fiber Optic Connectivity regarding the conduct and control of the
                                         Competition, the Live Transmission of or creation or exploitation of Ancillary Rights
                                         at an Event, and/or media, and areas, structures or equipment used for the Live Transmission
                                         of or the creation or exploitation of Ancillary Rights at an Event, PROMOTER shall repair,
                                         replace or upgrade the unsatisfactory portion to the satisfaction of NEM. Subject to
                                         existing contractual obligations and restrictions, Promoter will use commercially reasonable
                                         efforts to provide wireless connectivity to fans attending the Event within the grandstand
                                         seating area, infield and midways (such as through multi-carrier cellular antenna systems
                                         and/or Wi-Fi during each Event and shall provide reliable internet access by either cellular
                                         antenna systems, or Wi-Fi or ethernet to the NASCAR credential trailer and the driver/owner
                                         lot during each Event. NEM acknowledges that, subject to existing contractual obligations
                                         and restrictions, Promoter may provide such connectivity temporarily for the Event and
                                         Promoter acknowledges that such connectivity does not require permanent installation,
                                         provided that the connectivity experience for fans will be at a level similar to other
                                         professional level sports stadiums, including the ability for fans to engage with all
                                         social media platforms. If NEM determines that it is necessary to resurface the racetrack,
                                         such resurfacing shall be completed by PROMOTER sufficiently in advance of an Event to
                                         allow for tire and private car testing in strict accordance with all NASCAR Testing Policies
                                         in effect at that time. If NEM determines that there is insufficient time to place the
                                         racetrack, or any other portion of the Facility, in a condition suitable for an Event,
                                         NEM may postpone or cancel the Event. Notwithstanding the foregoing or any other term
                                         of this Agreement, PROMOTER is solely responsible for the safety of the Facility and
                                         is solely liable for injury or damage caused by or arising out of the condition of the
                                         Facility.9. Compliance with Laws. PROMOTER shall comply with all local, state, federal
                                         and foreign laws and regulations applicable to the organization, promotion and occurrence
                                         of each Event and shall obtain all necessary licenses, permits or other governmental
                                         approvals required for each Event. PROMOTER shall make all appropriate filings of forms
                                         or other documents required by federal, foreign, state or local laws in connection with
                                         each Event.10. Control of and Responsibility for the Public. PROMOTER is solely responsible
                                         and liable for the safety of the public during an Event. PROMOTER shall furnish adequate
                                         facilities, personnel (including security personnel), equipment and services for accommodating
                                         and controlling the public and adhering to NEM’s required security standards during
                                         each Event in accordance with Exhibit 7, as it may amended from time to time. PROMOTER
                                         is solely responsible for the condition, actions and operations of such facilities, personnel,
                                         equipment and services before, during and after each Event.11. Personnel and Equipment
                                         for the Conduct of an Event and Live Transmission and Ancillary Rights Activities. PROMOTER
                                         shall provide access to the Facility for any person or entity involved in the conduct
                                         of an Event, including without limitation NEM employees, agents and Officials, and shall
                                         furnish adequate facilities, support personnel, equipment, and related security, for
                                         use by NEM in the exercise of NEM’s rights and obligations, as they may be requested
                                         by NEM from time to time, including but not limited to facilities for office administration,
                                         registration, timing, scoring, car inspection, race direction, and officiating, as well
                                         as furnish all mutually agreed-upon necessary phone and Internet connections. PROMOTER
                                         shall also provide access to the Facility for any NASCAR employee(s) or agent(s), and
                                         any person or entity involved in the Live Transmission of or the creation or exploitation
                                         of Ancillary Rights at an Event, and adequate facilities, support personnel, equipment,
                                         and related security, for use by such persons or entities in the performance of their
                                         duties, as they may be requested by NEM from time to time. Without in any way limiting
                                         the foregoing, PROMOTER shall, with respect to each Event:a) provide one (1) or more
                                         television monitors (if not already provided by NEM), in locations to be specified by
                                         NEM, with all related equipment necessary for such monitors to be connected to video
                                         and audio equipment used by the entity principally involved in the Live Transmission
                                         of an Event, in order to provide to NEM Officials live video on such monitors and the
                                         ability to switch instantaneously its view on the monitors among the different camera
                                         locations used byPage 8 of 28

     

     

    

 

such
                                         entity, at all times during each Event when all or a portion of an Event is being videotaped,
                                         broadcast, monitored and/or recorded;b) provide NEM with two (2) pace vehicles with automatic
                                         transmissions, each with the NASCAR mark or logo (as designated by NEM) displayed on
                                         the side in a manner and size which is visible to all persons on the racetrack, in the
                                         viewing area and in all locations where NEM Officials are visually monitoring each Event;
                                         such pace vehicles must be only from one of the brands of the approved Competition Manufacturers
                                         as defined in Section 20 of the NASCAR Rule Book unless otherwise approved by NEM;c)
                                         provide NEM prior to each Event with a list of the track radio frequencies to be used
                                         for that Event, including but not limited to frequencies to be used for maintenance,
                                         police and security personnel;d) cooperate with NEM in pre-race and Victory Lane ceremonies,
                                         awards presentations and photographs, including without limitation ensuring that NEM
                                         has reasonable time immediately following the Competition for Victory Lane ceremonies,
                                         NASCAR awards presentations and NASCAR sponsor recognitions, and ensuring that the content
                                         and placement of the Victory Lane backdrop is pre-approved by NEM;e) have readily available
                                         quantities and types of oil dry acceptable to NEM when the track opens for practice and
                                         at all other times during each Event, and adequate personnel and equipment to spread
                                         the oil dry at NEM’s direction;f) provide personnel to secure the entry into the
                                         pits and garage areas during competition periods at NEM’s direction;g) provide
                                         personnel to secure the garage area on a continuous, 24-hour/day basis beginning the
                                         first day the Facility is open for inspection and ending when released by the Series
                                         Managing Director or other individual(s) designated by NEM;h) deliver to the garage area
                                         before the morning of raceday a minimum of 180 chairs for use by Competitors at the pre-race
                                         meeting; provide an enclosed, climate-controlled area of adequate size, as determined
                                         by NEM, in the garage area or reasonably near vicinity, as approved by NEM, in which
                                         NEM can conduct pre-race meetings, safety meetings and other assemblies during each Event
                                         and ensure that no pre-race activities are scheduled that would cause a disruption or
                                         distraction during the scheduled pre-race meeting.i) line and number each pit with appropriate
                                         paint, line and paint traffic lanes in the garage and garage area and fire lanes behind
                                         the active pit lane when and where needed, and repaint all start/finish, scoring, third
                                         turn and re-entry cutoff lines;j) coordinate with NEM all tours of the garage areas,
                                         including the times, number of participants and other arrangements;k) provide a suitable
                                         location (as determined by NEM) for a minimum of five (5) large trailers containing NEM
                                         equipment and facilities, adequate electricity (including without limitation 220 volts
                                         100 amps services with female range outlets for the NEM trailers), telephone (including
                                         a track phone extension) and water facilities as requested by NEM;l) coordinate with
                                         NEM to ensure that NEM has a minimum of ten (10) minutes immediately before, during or
                                         after driver introductions for NASCAR awards presentations (if applicable and as directed
                                         by NEM);Page 9 of 28

     

     

    

 

m)
                                         provide a race control of adequate size, as determined by NEM, spotters stand, with an
                                         unobstructed view of the racing surface for the purpose of monitoring each Event by NEM
                                         personnel and others, with electricity, air conditioning, heat, telephone (including
                                         a track phone extension), a sufficient number of chairs (minimum of 14) with cushions
                                         for all operational personnel, television monitors for both feeds (as set forth in subsection
                                         11.a), water facilities and other utilities, supplies and equipment as requested by NEM;n)
                                         provide a registration facility of adequate size in the garage area, with electricity,
                                         air conditioning, heat, telephone (including a track phone extension), chairs with cushions,
                                         water facilities and other utilities, supplies and equipment as requested by NEM;o) provide
                                         adequate trash receptacles in the garage and pit areas and coordinate with the Series
                                         Managing Director or other individual(s) designated by NEM the times for trash pickup
                                         by track personnel;p) provide adequate personnel to sweep and clean up the garage and
                                         pit areas on a daily basis;q) provide adequate parking areas and parking passes/permits
                                         for a minimum of three hundred twenty- five (325) vehicles (which shall be inclusive
                                         of any season long passes issued by NEM to competitors) , for the exclusive use of Competitors,
                                         NASCAR, and NEM Officials adjacent to or near the garage area, and an additional fifty
                                         (50) parking places and passes/permits in close proximity to the NEM observation booth
                                         to be used at NEM’s discretion;r) provide NEM with an observation booth no less
                                         than six hundred (600) square feet, air conditioned, heated, with electricity, television
                                         monitors, etc., with an unobstructed view of the racing surface and adequate seating
                                         for the purpose of monitoring each Event by NEM personnel and others, including all necessary
                                         admission tickets, a reasonable number of parking passes and, if need be, access stickers
                                         for personnel to gain admission to the observation booth, during each Event;s) provide
                                         NEM with two hundred twenty-five (225) reserved choice grandstand admission tickets for
                                         each Event and, provided it is on a separate race day than the Event, two hundred (200)
                                         choice grandstand tickets for NASCAR Cup Series Busch Pole Qualifying, such tickets to
                                         be delivered to NEM no later than thirty (30) calendar days prior to each Event;t) enter,
                                         and use its best efforts to cause any manufacturer of Event merchandise to enter, into
                                         a cross licensing agreement with NASCAR to use the NASCAR Marks (as defined in subsection
                                         21.a) below) in conjunction with all Event merchandise;u) prominently display (by painting
                                         or otherwise) the Official Logos (as defined in subsection 21.a)i) in and around the
                                         Facility, and in all promotion of each Event, to NEM’s reasonable satisfaction:i)
                                         at all fan entries and main infield Facility entrances in some fashion such as flags
                                         and/or banners;ii) in an area inside the track, such as the infield grass, such that
                                         it is highly visible to grandstand seating and from the air;iii) in the backdrop to Victory
                                         Lane and pre-race ceremonies;iv) on any and all print, social media, digital assets and
                                         television advertising promoting each Event (for social media and digital assets Promoter
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v)
                                         on the front cover of each Event Program;vi) on any and all Event tickets, suite passes,
                                         and credentials;vii) in the Track Media Center and on all PROMOTER-owned media backdrops;provided,
                                         however, that the Official Logos shall not, without NEM’s prior written approval,
                                         be placed in close proximity to a third party’s marks so as to create a commercial
                                         impression that the third party is associated with NEM, NASCAR or the NASCAR Cup Series;v)
                                         cooperate fully with nascar.com staff, including but not limited to prominently displaying
                                         (by painting or otherwise) the nascar.com address in an area of the track, such as the
                                         infield grass, that is highly visible to grandstand seating and from the air;w) cooperate
                                         fully with the NASCAR and NEM integrated marketing communications staffs;x) PROMOTER
                                         agrees to participate in a race team primary sponsor concept program with other NASCAR
                                         Cup Series promoters. Promoters’ obligations include, but are not limited to, 1)
                                         designating a single point of contact for participating race teams with regards to purchasing
                                         suites, non-suite hospitality assets, hospitality-related tickets and midway display
                                         space for participating NASCAR Cup teams’ primary sponsors, 2) providing fair,
                                         consistent and competitive pricing for requested Track assets (consistent with Promoters
                                         typical sales practices), 3) a commitment to participate in participating race team sponsor
                                         negotiations regarding Track inventory where appropriate and 4) the creation of a concierge
                                         program/welcome committee for new incoming participating race team primary sponsors.
                                         PROMOTER participation in such program shall be subject to asset availability and subject
                                         to existing category exclusive sponsorship restrictions.In order to participate in this
                                         program, a race team’s obligations to PROMOTER are the exclusive utilization of
                                         the program for the purchase of assets included in the program, and an agreement that
                                         neither participating race teams nor agencies engaged by participating race teams or
                                         team sponsors shall seek pricing from or negotiate with anyone but the PROMOTER’s
                                         designated single point of contact or the person assigned by PROMOTER for any of the
                                         above Track inventory. If a race team fails to make exclusive use of the single point
                                         of contact, then PROMOTER may exclude such race team from this program in the future.y)
                                         cooperate fully with any entity involved in the exploitation of Live Transmission Rights
                                         or Ancillary Rights ("Entity"), including but not limited to:i) providing reasonable
                                         access to the Facility for the purpose of facilitating the Entity’s transmission,
                                         or recording of an Event (including free parking for any and all Entity employees and
                                         equipment), including but not limited to providing reasonable space and locations as
                                         determined by the Entity for its announcers, and for the installation and operation of
                                         all microphones, television cameras, and related equipment to be used by such Entity
                                         in connection with its production and transmission (including satellite uplink), and
                                         a period of time during each Event as determined by NEM (but no more than two (2) hours)
                                         within which Entity can conduct such installation and operation unimpeded and uninterrupted;ii)
                                         supplying and assuring the availability of such electrical power as is necessary to operate
                                         such equipment and all necessary lighting for a first quality television production in
                                         color;iii) permitting the Entity to install, maintain, and remove from the Facility such
                                         wires, cables, and equipment as may be necessary for each Event;Page 11 of 28

     

     

    

 

iv)
                                         permitting installation of announcers’ booths, camera platforms, and similar structures
                                         for the facilitation of broadcast productions and/or transmissions of motorsports events
                                         and provide and install permanent camera platforms for standard camera locations as reasonably
                                         directed and designed by the Broadcast Partner or NEM. NEM shall cause the broadcast
                                         partner and its contractors to comply with all applicable laws and codes related to any
                                         such structures, including but not limited to all applicable OSHA and disability standards.
                                         NEM shall use best efforts to work with the Broadcast Partner to provide reasonable notice
                                         of any changes to the camera locations;v) providing adequate and necessary space for
                                         any mobile units, trailers and other necessary support units required by the Entity for
                                         the transportation and maintenance of equipment and personnel by the Entity, including,
                                         but not limited to, a fenced and secured television compound in reasonably close proximity
                                         to the racing surface and the announcer booths of no less than sixty-two thousand five
                                         hundred (62,500) square feet in total area and, if possible, laid out in one contiguous
                                         square with minimum dimensions of two hundred fifty (250) feet by two hundred fifty (250)
                                         feet, for locating broadcast mobile units, support units, office units, satellite uplinks,
                                         catering, golf cart parking, generators, timing and scoring apparatus trailer, and other
                                         related equipment and supplies; and a separate, suitable, secured area in the infield
                                         (as applicable) for mobile studio facilities and other transmission-related units and
                                         equipment, equipped with paved, or reasonable equivalent areas, fencing, potable water
                                         and lighting. NEM shall use best efforts to work with the Broadcast Partner to provide
                                         reasonable notice of any changes to the broadcast compound locations;vi) providing a
                                         booth across from the Start/Finish line with an unobstructed view of the racing surface
                                         up to current network broadcast standards, and use best efforts to provide a second booth
                                         meeting the same criteria listed herein and adjoining to the first booth if possible,
                                         with a clear view of the entire track, with sufficient space to accommodate a minimum
                                         of five (5) people (the booth shall be at least twenty (20) feet wide and ten (10) feet
                                         deep with a counter twenty (20) inches deep), air-conditioned to sixty-eight (68) degrees
                                         Fahrenheit, adjustable sun screens or removable tinting on all exterior windows, black
                                         interior walls, as sound proof as practical, wired for one hundred-twenty (120) volts
                                         AC with outlets on the front and side walls, with five (5) chairs with back support,
                                         tables, monitor tables, and with door(s) that can be locked and secured;vii) cooperating
                                         with NEM and any Entity to ensure exclusive, and if necessary secure or encrypted, radio
                                         frequencies;viii) providing meaningful advanced consultation with NEM and the Entity
                                         prior to each Event regarding any talent including, but not limited to, pre- and/or post-race
                                         concert performer(s), national anthem performer(s), invocation deliverer(s), grand marshal(s),
                                         engine start command deliverer(s), honorary starter(s), celebrities, sports figures,
                                         political representatives and/or guests who might take part in pre-race ceremonies, or
                                         others with whom PROMOTER arranges for or contracts with to participate in that Event;
                                         andz) with respect to any Entity transmitting the Live Transmission, in addition to the
                                         requirements of subsection 11.x) PROMOTER shall:i) provide a maximum of three hundred
                                         (300) choice complimentary tickets for the Competition and all other activities during
                                         each Event, provided that NEM shall require the Entity to notify PROMOTER of the number
                                         of such tickets it requires not later than ninety (90) days prior to the date of each
                                         Event;Page 12 of 28

     

     

    

 

ii)
                                         provide use of one (1) standard luxury track suite, and use commercially reasonable efforts
                                         to provide a second standard luxury track suite, for the Competition and all other activities
                                         during each Event including all necessary suite passes and suite parking;iii) prominently
                                         display Entity’s (or joint Entity/NASCAR) logo painted in an area inside the track,
                                         such as the infield grass, such that it is highly visible to grandstand seating, television
                                         cameras and from the air and also display four (4) standard size signs, to the Entity's
                                         specifications within the Facility, subject to the reasonable approval of PROMOTER and
                                         NEM;iv) provide such Entity with one (1) full page four (4) color advertisement in each
                                         Event Program;v) cooperate fully with any and all requests made by NEM with respect to
                                         regional and local TV coverage, including but not limited to allowing such Entity to
                                         have absolute priority with respect to camera and announcing positions, ensuring that
                                         local TV crews do not in any way interfere with such Entity’s production, ensuring
                                         that such local TV coverage will be limited to no more than one and one half (1 1⁄2)
                                         minutes of action of competition, which will not be broadcast until completion of such
                                         Entity’s first telecast of the Competition (including the pre-race and post-race
                                         shows) and not later than ninety-six (96) hours following the completion of the Competition,
                                         and ensuring local TV crews do not provide footage to any regional or national network
                                         or news feed;vi) permit such Entity, if requested in a timely manner, to purchase Event
                                         hospitality chalets;vii) refer the title sponsor of each Event to the broadcast partner
                                         for the purposes of helping to facilitate the title sponsor buying advertising in the
                                         telecasts of that Event; NEM shall in turn cause the NASCAR Rights Affiliate to include
                                         in the Live Transmission Contract(s) provisions that (a) prohibit the Entity from identifying
                                         each Event by any name other than the official event title of that Event, as designated
                                         by the PROMOTER, or identifying the Facility by any name other than its official name,
                                         as designated by the PROMOTER, subject to Entity’s broadcast standards and practices
                                         and NEM’s approval of Entitlement Sponsor(s) in accordance with Section 25, (b)
                                         require the Entity to identify each Event by its official event title, as designated
                                         by the PROMOTER, excluding any presenting sponsors, at least once during the opening
                                         segment of the telecast and thereafter at least once during each hour of the telecast
                                         of that Event, subject to Entity’s broadcast standards and practices and NEM’s
                                         approval of Entitlement Sponsor(s) in accordance with Section 25, and (c) prohibit the
                                         Entity from superimposing, inserting or otherwise incorporating on-screen any electronic
                                         or “virtual” signage, promotion or other commercial designation that alters
                                         for the television viewer the actual appearance of the Facility or any portion thereof
                                         without the prior written approval of PROMOTER and NEM (e.g., if the parties agree that
                                         a Premier Sponsor shall have the right to advertise with virtual signage);viii) at least
                                         ninety (90) days prior to each Event, send such Entity and NEM and any international
                                         telecaster scheduled to be transmitting from the Facility a list naming all musical compositions
                                         scheduled to be played during the Competition or at any other time when such Entity or
                                         international telecaster is scheduled to be transmitting from the Facility in connection
                                         with that Event, which shall include the title of each composition and the name of the
                                         composer, publisher, copyright holder, and performing rights holder; and if such Entity
                                         is unable to transmit such composition with respect to the Live Transmission of an Event
                                         without additional expense and authorizations, PROMOTER agrees (a) to obtain, at PROMOTER’s
                                         expense, authorization to transmit such composition or (b) not to play such composition
                                         at a time when the Entity is scheduled to be transmitting from the Facility in connection
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ix)
                                         insure that the Start/Finish line is newly painted prior to the start of the Competition.12.
                                         Fire and Medical Equipment and Personnel. PROMOTER shall provide adequate facilities,
                                         personnel, equipment and services, including without limitation cleanup crews, towing
                                         and flatbed wreckers, jet dryers, ambulances, emergency vehicles, medical evacuation
                                         helicopter, fire trucks for fire protection and on-site medical services for Competitors,
                                         Officials, the public and others in connection with each Event, all of which shall be
                                         on-site and in a state to be fully operational prior to the commencement of the Competition.
                                         PROMOTER shall adhere to NEM’s required track services event standards and medical
                                         standards during each Event in accordance with Exhibit 7, as it may be amended from time
                                         to time, and make advance arrangements with local hospitals and physicians for the prompt,
                                         efficient and appropriate treatment of any and all injuries occurring during each Event.
                                         NEM may, at its sole cost and expense, utilize the NASCAR track drying system to dry
                                         the track in the event of inclement weather.13. Security For Pit and Garage Area. PROMOTER
                                         shall furnish adequate security personnel and equipment (in addition to the requirements
                                         of Sections 10 and 11) in the pit and garage area. PROMOTER shall limit access to such
                                         areas before, during and after each Event solely to authorized individuals (who must
                                         have NEM- approved credentials) and equipment. Minors shall not be allowed in the pits
                                         during pit lane “hot” times as designated by NEM. The PROMOTER will ensure
                                         that all persons who enter restricted areas such as the garage and pits as guests of
                                         the PROMOTER or otherwise, sign the standard Release and Waiver of Liability and Indemnity
                                         Agreement and, upon request by NEM, provide copies of the signed Releases to NEM. PROMOTER
                                         is solely responsible and liable for the actions of security personnel, provided, however,
                                         that PROMOTER shall ensure that all such security personnel will abide by such directions
                                         or comply with such requests as NEM may issue or make from time to time. PROMOTER will
                                         permit any current, valid NASCAR-licensed members, NEM guests, NASCAR guests, and/or
                                         any other persons designated by NEM access to the Facility or portions of the Facility
                                         in accordance with the type of credential issued to them by NEM. Pursuant to any exploitation
                                         of Live Transmission Rights or Ancillary Rights, NEM shall administer and coordinate
                                         Event access for all non-news media, but may assign such responsibility to a NASCAR Rights
                                         Affiliate(s).14. Business Responsibilities Relating to Promotion. PROMOTER shall perform
                                         all obligations imposed on it by this Agreement, including all obligations to provide
                                         cooperation, tickets, passes, services and support equipment set forth in Section 11
                                         of this Agreement, at its own expense, without contribution by NEM or NASCAR. PROMOTER
                                         assumes and will perform all business responsibilities in connection with the promotion
                                         of each Event (except as otherwise provided by this Agreement), including without limitation
                                         business organization, promotional activities, management, general business affairs,
                                         ticket sales, Facility operation and press accommodations.15. Other Track Activities.
                                         PROMOTER shall not schedule or permit any private race car practice or test runs at the
                                         Facility for the seven (7) calendar days immediately preceding the first day of official
                                         practice for each Event without prior written approval by NEM. At all times during the
                                         calendar year of an Event, PROMOTER agrees to adhere to all terms and conditions of all
                                         NASCAR Testing Policies, as they may be amended from time to time. PROMOTER shall be
                                         given a copy of all applicable Testing Policies in place as of the Effective Date of
                                         this Agreement, and shall be provided upon their release with any updates that occur
                                         during the Term. PROMOTER shall not schedule or permit any other entertainment activities
                                         at the Facility during any Event without prior written approval by NEM. PROMOTER shall
                                         notify NEM at least thirty (30) calendar days prior to each Event of its intention to
                                         conduct or permit any such activities. NEM may at its discretion grant its approval with
                                         or without condition, but it shall not unreasonably withhold or condition its approval.
                                         Except with respect to scheduling as set forth herein, NEM shall have no responsibility
                                         or liability with respect to such activities, and PROMOTER shall be solely responsible
                                         and liable for such activities. The entertainment activities covered by this Section
                                         include without limitation other motorsports events, thrill shows, live performances
                                         and/or helicopter rides. In recognition of the importance and stature of the Event and
                                         the Series, the financial significance of agreements with NASCAR Rights Affiliates, and
                                         the sanction granted under this Agreement, during the Term of this Agreement PROMOTER
                                         covenants not to promote, host, conduct or stage, nor allow any third party(s) to promote,
                                         host, conduct or stage, a stock car racing event at the Facility that attempts to duplicate,
                                         emulate, imitate, copy, simulate and/or mimic the NASCAR Cup Series; or uses the same
                                         or similar race vehicles, rules, competitors, trademarks, trade dress, and/or “look
                                         and feel” of the NASCAR Cup Series; or would create confusion in the public; or
                                         would in any way dilute the stature, impact and value of the Event. It is understood
                                         that the breach or threatened breach of the provisions of this Section will immediately
                                         cause irreparable harm to the Series, NASCAR, NEM, NASCAR Rights Affiliates and others
                                         and that any remedy at law for such breach will be inadequate. Accordingly, in addition
                                         to any other remedy that NASCAR, NEM, NASCARPage 14 of 28

     

     

    

 

Rights
                                         Affiliates and others may have, it shall be entitled to temporary, preliminary and permanent
                                         injunction or other equitable relief restraining any breach or threatened breach, without
                                         any bond or other security being required and without the necessity of showing actual
                                         damages. If, despite the harm that would be incurred by NASCAR, NEM, NASCAR Rights Affiliates
                                         and others, any court construes any of the covenants in this Section to be too broad,
                                         the court shall have the authority to reduce the duration, geographic area or scope of
                                         prohibited activities to the extent necessary so that the provision is enforceable (and
                                         the provision, as reduced, shall then be enforced). In addition, without in any way limiting
                                         the foregoing or in any way limiting NEM’s and/or NASCAR’s other options
                                         and remedies under Section 34, NEM may determine any and all dilutive financial effects
                                         on Live Transmission Income and Ancillary Rights Income for the Event and for the Series
                                         for such a breach or threatened breach and deduct that amount from any payments due to
                                         PROMOTER under this Agreement.OFFICIAL ENTRY BLANK AND AWARDS16. Preparation and Publication
                                         of Official Entry Blank. NEM shall compose, print, publish and distribute the Official
                                         Entry Blank ("OEB") for each Event. The OEB shall be the sole official statement as to
                                         the date, place, schedule and length of each Event, the eligibility requirements for
                                         Competitors, and monetary and non- monetary awards. PROMOTER shall not publish an official
                                         or unofficial entry blank or supplement, or any other form setting forth monetary or
                                         non-monetary awards, without prior written approval from NEM. PROMOTER shall not advertise
                                         or otherwise disseminate any information as to monetary or non-monetary awards for any
                                         Event other than those specified in the OEB or NEM-approved supplement for that Event.
                                         If PROMOTER engages in such publication, advertising or dissemination, PROMOTER shall
                                         hold NEM and NASCAR harmless for any and all loss, expense or damage arising out of such
                                         activity, and NEM at its option may also terminate the sanction granted by this Agreement
                                         and/or pursue any other remedies against PROMOTER.17. Additional Awards.a) If PROMOTER
                                         contracts for Additional Awards, then, subject to the provisions of Section 16, NEM may
                                         publish and distribute a supplement to an OEB posting the Additional Award(s).b) PROMOTER
                                         shall submit to NEM, no later than sixty (60) calendar days prior to the date of each
                                         Event, a list of any and all proposed Additional Awards for that Event. PROMOTER shall
                                         obtain NEM’s written consent prior to contracting for any Additional Award. NEM
                                         may reject a proposed Additional Award in its entirety, require different terms for the
                                         proposed Additional Award, or require a reallocation of the distribution of such an award
                                         among Competitors, if in NEM’s sole judgment the proposed award will not advance
                                         the nature of the competition, will have an adverse impact on that Event, or will be
                                         detrimental to the sport of automobile racing, NEM, NASCAR, any sponsors of that Event,
                                         or any sponsors of the NASCAR Cup Series. PROMOTER assumes full responsibility for, and
                                         will indemnify NEM and NASCAR against, any loss, expense or damage incurred as a result
                                         of NEM’s determination with respect to any proposed award arranged by or through
                                         PROMOTER. All Additional Awards are subject to independent verification by NEM.18. Unauthorized
                                         Awards. PROMOTER shall not offer an award of any kind, at any Event or any other NEM-sanctioned
                                         event, or any other non-NEM sanctioned event, which in any way utilizes or relies upon
                                         the points system, money standings, or any other NEM-sanctioned race related results,
                                         without NEM’s prior written approval. If PROMOTER offers such an award without
                                         NEM’s prior written approval, NEM may terminate the sanction granted by this Agreement
                                         and/or seek to prohibit or enjoin PROMOTER from offering such an award and/or pursue
                                         any other remedies available to it. If such an award is offered by a third party without
                                         NEM’s prior written approval, PROMOTER shall cooperate with NEM to prohibit or
                                         enjoin the third party from offering such an award. Cooperation by PROMOTER shall include,
                                         but is not limited to, the assignment of PROMOTER's rights to enjoin the third party.
                                         If PROMOTER, in NEM’s sole judgment, fails to cooperate fully with NEM to prohibit
                                         or enjoin such an award, NEM at its option may terminate the sanction granted by this
                                         Agreement and/or pursue any other remedies available to it.Page 15 of 28

     

     

    

 

PROMOTER'S
                                         FINANCIAL AND INSURANCE OBLIGATIONS19. NEM Event Fee. For each Event, PROMOTER shall
                                         pay to NEM, or its designated affiliate, acting as Paying Agent by wire transfer of funds
                                         (but not by ACH or other fund transfer methods), an amount equal to the NEM Event Fee
                                         for that Event set forth in Exhibit 1 to this Agreement, plus any other monies due NEM
                                         for that Event pursuant to this Agreement, unless otherwise directed by NEM in writing.
                                         Time is of the essence. If said monies and fees are not paid in the manner required and
                                         by the Payment Date for that Event specified in Exhibit 1 to this Agreement, NEM at its
                                         option may (a) terminate the sanction granted by this Agreement, (b) enforce collection
                                         of said monies and fees by suit or legal action, and/or (c) pursue any other remedies
                                         available to it. NEM shall provide wiring instructions to PROMOTER prior to each Payment
                                         Date. For each Event, NEM shall cause Paying Agent to: i) send to Competitors payments
                                         representing the drivers’ purses, awards and certain other monies to be paid in
                                         accordance with the Official Entry Blank for that Event, net of any withholding of applicable
                                         taxes, as directed by NEM; ii) retain any and all unpaid prize money, if applicable,
                                         for distribution in programs designed for the benefit of Competitors, as NEM may determine
                                         from time to time, and; iii) withhold and remit applicable taxes to applicable taxing
                                         authorities. Prior to each Event, PROMOTER shall assist NEM in identifying any and all
                                         local and/or state income taxing authorities which must be satisfied by Paying Agent
                                         relative to this Section. The Paying Agent shall withhold taxes and such collected taxes
                                         shall be paid by the Paying Agent to the appropriate taxing authorities as identified.
                                         The Paying Agent’s obligation to make payments under this Section shall at all
                                         times be conditioned upon the PROMOTER’s wire transfer of each NEM Event Fee in
                                         strict accordance with this Agreement, and nothing shall be construed to require the
                                         Paying Agent or NEM or NASCAR to advance its own funds for any purpose. All payments
                                         by all parties described in this Section shall be made in lawful money of the United
                                         States of America, unless otherwise specified herein.20. Insurance.a) Event Insurance.
                                         PROMOTER shall obtain and maintain comprehensive general liability insurance, with motorsports
                                         endorsements, that is acceptable to NEM for each Event from an insurance company that
                                         is acceptable to NEM for (i) spectator injury and property damage and (ii) participant
                                         legal liability, product liability and advertising liability with a minimum combined
                                         single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence,
                                         and liability for medical professionals working on behalf of the Event with limits of
                                         not less than One Million Dollars ($1,000,000.00) per occurrence (unless NEM approves
                                         a lesser limit in writing prior to the Event). NEM may require that PROMOTER obtain such
                                         insurance in greater amount or scope by providing notice to PROMOTER at least one hundred
                                         twenty (120) calendar days prior to the date of an Event. PROMOTER shall deliver to NEM
                                         at Daytona Beach, Florida no later than each respective Notification Date set forth in
                                         Exhibit 1 to this Agreement, a valid certificate of insurance and a certified true copy
                                         of all public liability insurance policies in force for each corresponding Event by submitting
                                         the documents to: NASCAR-NEM@certfocus.com. In all such policies and in all other liability
                                         policies obtained and maintained by PROMOTER and PROMOTER's parent and affiliated company(ies),
                                         including without limitation all umbrella and excess liability policies, the following
                                         will be named as additional insured: NASCAR Event Management, LLC, National Association
                                         for Stock Car Auto Racing, Inc., CL Bureau, Inc., Motorsports Charities, Inc., and each
                                         of their shareholders, directors, officers, employees, agents, Officials, members, parent
                                         and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car sponsors; car owners,
                                         all sponsors for the Event or the series of which the Event is a part; Toyota Motor Sales,
                                         USA, Ford Motor Company, ACCUS-FIA, and all third parties with whom NASCAR, NEM, or a
                                         NASCAR Rights Affiliate(s) has contracted with respect to the Event, including without
                                         limitation for exploitation of Live Transmission Rights and Ancillary Rights (“NEM
                                         Additional Insureds”). All policies shall be primary regardless of insurance carried
                                         by NEM, NASCAR or other additional insureds, contain a cross liability endorsement acceptable
                                         to NEM, and include a waiver of subrogation in favor of the NEM Additional Insureds.
                                         If (a) PROMOTER fails to deliver such policies to NEM by each Notification Date, (b)
                                         the policies are not acceptable to NEM, or (c) PROMOTER fails to maintain such policies
                                         with the required minimum coverage throughout each Event, NEM at its option but at PROMOTER's
                                         expense may obtain the required insurance from an acceptablePage 16 of 28

     

     

    

 

insurance
                                         company or NEM may terminate the sanction granted by this Agreement immediately and without
                                         notice to PROMOTER and/or pursue any other remedies available to it. NEM reserves the
                                         right to amend these insurance requirements (including the Additional Insureds) due to
                                         significant changes in the insurance industry and/or regulations and will provide as
                                         much notice to PROMOTER as reasonably possibleb) Broadcast Insurance. NEM shall require
                                         the Entity providing the Live Transmission to maintain statutory and workers’,
                                         and broadcast and comprehensive general liability coverages for each Event. NEM shall
                                         require the Entity providing the Live Transmission to name PROMOTER and NEM as additional
                                         insureds on its broadcast and comprehensive general liability policies. These policies
                                         shall have a limit of at least One Million Dollars ($1 million) per occurrence and Two
                                         Million Dollars ($2 million) annual aggregate.c) NASCAR Insurance Plan. The NASCAR insurance
                                         plan (participant/accident coverage in place for NASCAR-licensed Competitors in NEM-sanctioned
                                         racing) is not applicable to and does not provide coverage for Competitors, whether NASCAR-licensed
                                         or not, in any non- NEM-sanctioned racing or other activities at the Facility during
                                         any Event that are not expressly listed in this Agreement or in a fully executed NEM
                                         sanction agreement pertaining to another NASCAR series running during the same Event.ADVERTISING
                                         AND USE OF MARKS21. Cross Trademark Licenses.a) Grant of License by NEM. NEM hereby grants
                                         to PROMOTER a non-transferable, non- exclusive, royalty-free license to use, strictly
                                         in accordance with the terms of this Agreement, the NASCAR and Series Logo(s) marks listed
                                         on Exhibit 3 to this Agreement (collectively, the "NASCAR Marks"), as they may be amended,
                                         added, and/or deleted from time to time, in connection with the publicity, promotion
                                         and advertising of each applicable Event. This license shall terminate upon the expiration
                                         or termination of the sanction granted by this Agreement.i) Terms and Conditions of Use.
                                         PROMOTER shall display the official NASCAR logo, the Series Logos (with such Series Logo(s)
                                         use to be at NEM’s direction) and the phrase "NASCAR Cup Series Championship Event"
                                         (as applicable) (collectively, the "Official Logos") in all publicity, advertising, tickets
                                         and promotion relating to each Event, in accordance with subsection 11.u) of this Agreement.
                                         The number and specific location of such displays and the color and size of the Official
                                         Logos shall be subject to NEM’s approval, and PROMOTER shall abide by and comply
                                         with all determinations and directives of NEM with respect to such matters. NEM may disapprove
                                         and prohibit PROMOTER's actual or intended use of the NASCAR Marks in any location, media
                                         or publication if NEM determines that such use is or will be detrimental to NEM, NASCAR,
                                         to an Event, to the series of which each Event is a part, or to the sport.ii) Limited
                                         Authorization. This license does not authorize PROMOTER to use the NASCAR Marks in its
                                         corporate business or firm name and title nor to use or permit the use of the marks other
                                         than in accordance with the terms and conditions of this Agreement.iii) Indemnity. NEM
                                         hereby agrees to indemnify PROMOTER from any claims or loss arising out of PROMOTER's
                                         use of the NASCAR Marks in accordance with the terms and conditions of this Agreement.iv)
                                         Structure of the NASCAR Cup Series Championship and Related Terminology. NEM, at its
                                         sole discretion, will determine both the overall and event-specific structure of the
                                         NASCAR Cup Series. This includes, but is not limited to, the structure and make-upPage
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of
                                         specific portions of the racing season (i.e.; “NASCAR Playoffs”); the NASCAR
                                         marketing calendar for industry-wide initiatives (i.e.; “NASCAR Salutes”;
                                         “NASCAR Day”, etc.); the All-Star weekend; the NASCAR Cup Championship Weekend;
                                         Series- related pre-season, season, and post-season events (i.e.; “NASCAR Cup Series
                                         Awards”); any adjustments to the annual Calendar as outlined in this Agreement;
                                         and other structural and promotional elements related to the conduct of and for the benefit
                                         of the Series as a whole. Irrespective of where each Event falls within each overall
                                         or specific segment of an annual Calendar or calendar of Series-related events, Promoter
                                         will at all times use the correct branding terminology, as determined by NEM, when referring
                                         to the above. The foregoing does not limit the PROMOTER’s ability to sell Event
                                         entitlement, or the entitlement of competition elements such as time trials or practice
                                         runs, or to use the name of the Entitlement Sponsor in connection with an Event, subject
                                         to NEM approval as outlined in this Agreement.b) Grant of License by PROMOTER. PROMOTER
                                         hereby grants to NEM and NASCAR a non- transferable, non-exclusive, royalty-free license
                                         to use and sublicense, strictly in accordance with this Agreement, PROMOTER's Marks listed
                                         on Exhibit 4 to this Agreement (collectively, the "PROMOTER's Marks") in connection with
                                         publicity, promotion and advertising of each Event and the NASCAR Cup Series, the publicity,
                                         promotion and advertising of the NASCAR Hall of Fame, and the exploitation of Live Transmission
                                         Rights and Ancillary Rights. This license shall be perpetual with respect to the exploitation
                                         of Live Transmission Rights and Ancillary Rights and the publicity, promotion and advertising
                                         of the NASCAR Hall of Fame; with respect to all other rights, this license shall terminate
                                         upon the expiration or termination of the sanction granted by this Agreement.i) Terms
                                         and Conditions of Use. NEM and NASCAR shall have the right to use and sublicense PROMOTER's
                                         Marks in connection with publicity, promotion or advertising of each Event and the NASCAR
                                         Cup Series, and the exploitation of Live Transmission Rights and Ancillary Rights, provided,
                                         however, that NEM or NASCAR shall not, without the prior written consent of PROMOTER,
                                         use or sublicense the use of PROMOTER's Marks on the branding of any retail package product,
                                         unless otherwise expressly permitted in this Agreement.ii) Limited Authorization. This
                                         license does not authorize NEM or NASCAR to use PROMOTER's Marks in its corporate business
                                         or firm name and title nor to use or permit the use of PROMOTER's Marks other than in
                                         accordance with the terms and conditions of this Agreement.iii) Indemnity. PROMOTER hereby
                                         agrees to indemnify NEM and NASCAR from any claims or loss arising out of NEM’s
                                         or NASCAR's use of PROMOTER's Marks in accordance with the terms and conditions of this
                                         Agreement.22. Limited Assignment of Certain Other Rights. Solely to the extent that any
                                         other person or entity grants to NASCAR rights to use and sublicense their name(s), picture(s),
                                         likeness(es) or performance(s) in connection with an Event, and NASCAR has sublicensed
                                         these rights to NEM, NEM hereby grants to PROMOTER a non- exclusive sublicense to use
                                         such name(s), picture(s), likeness(es) or performance(s) for the purpose of publicizing,
                                         promoting or advertising that Event, but not for the purpose of exploiting Live Transmission
                                         Rights or Ancillary Rights. Notwithstanding the foregoing, NEM may disapprove and prohibit
                                         PROMOTER's actual or intended use of such name, picture, likeness or performance if NEM
                                         determines that such use is or will be detrimental to NEM, to NASCAR, to an Event, to
                                         the Series of which that Event is a part, or to the sport. PROMOTER understands and acknowledges
                                         that, as of the Effective Date of this Agreement, such rights are normally granted to
                                         NASCAR on an annual basis and are normally applicable only to that calendar year.23.
                                         Misrepresentations. PROMOTER shall make no misrepresentations of fact in connection with
                                         publicizing, promoting or advertising any Event. If such a misrepresentation is made
                                         (a) PROMOTER shall promptlyPage 18 of 28

     

     

    

 

correct
                                         the misrepresentation through a subsequent PROMOTER publication, (b) NEM may correct
                                         the misrepresentation itself through an NEM publication or through an agent at PROMOTER's
                                         expense, (c) NEM may terminate the sanction granted by this Agreement, and/or (d) NEM
                                         may pursue any other remedies available to it.24. Cooperation with Sponsors. PROMOTER
                                         acknowledges that each Event is part of the NASCAR Cup Series for that year. PROMOTER
                                         shall cooperate fully with NEM, with the Series sponsor(s) (if applicable), and with
                                         any other company that has contracted with NASCAR to sponsor awards/prize money, programs
                                         or platforms (including, without limitation, the Busch Pole Award or the Sunoco Rookie-of-the-Year
                                         Award or successor awards and programs) that are based in whole or in part on a Competitor's
                                         participation in Events, in connection with those sponsors' or partners’ activities,
                                         if any, during each Event. PROMOTER, on its own and at the request of NEM, will use its
                                         commercially reasonable efforts to feature such sponsors/partners prominently in all
                                         of PROMOTER's advertising, publicity and promotion in connection with each Event, and
                                         no competitor of such a sponsor/partner shall be featured therein more prominently than
                                         such sponsor/partner. PROMOTER shall take no action that, in NEM’s sole determination,
                                         will jeopardize the maintenance or continuation of such sponsorships. In the event that
                                         the Series title sponsorship or official fuel supplier changes after the Effective Date
                                         of this Agreement and prior to the conclusion of an Event, PROMOTER will not renew, extend
                                         or enter into any new agreement with any sponsor that represents a conflict with rights
                                         granted consistent with this Agreement to a Series sponsor (if applicable) or official
                                         fuel supplier during any Event, except as otherwise allowed by agreement with such sponsor.
                                         The determination of what constitutes a conflict shall be at NEM’s sole discretion.
                                         Subject to the provisions below, PROMOTER will use its best efforts to resolve all existing
                                         sponsor conflicts, if any, relative to these categories in an expeditious manner. PROMOTER
                                         will maintain an inventory of at-track and Event-related benefits equivalent to those
                                         provided by the PROMOTER to past Series sponsors (e.g., Sprint and Monster Energy) for
                                         the availability of any new Series sponsor (if applicable) for acquisition as part of
                                         an Event Placement Package (“EPP”), with such prices or consideration to
                                         be at fair market value unless such new Series sponsor would place PROMOTER in breach
                                         of a then existing exclusive sponsorship. In the event that any new Series sponsor does
                                         not acquire an EPP, then PROMOTER shall still be required to deliver those assets and
                                         benefits provided in Sections 11(u) and 21 of this Agreement; provided however if such
                                         new Series sponsor does not enter into an EPP with PROMOTER, and notwithstanding anything
                                         to the contrary herein, the Series Sponsorship Category shall then be deemed non-exclusive
                                         and PROMOTER shall be able to sell at-track and other promotional inventory to a sponsor
                                         which conflicts with the Series Sponsorship Category, and such sales shall not be deemed
                                         a breach of the Sanction Agreement. PROMOTER will maintain the full inventory of at-track
                                         and Event- related benefits provided by the PROMOTER to the current official fuel supplier
                                         for the availability of a new official fuel supplier, provided that the new official
                                         fuel supplier shall enter into a licensing agreement with the PROMOTER with respect to
                                         such rights. PROMOTER shall permit the use of the PROMOTER’s Marks by any new Series
                                         sponsor (if applicable) and by any new official fuel supplier for the purposes of reporting,
                                         promoting, publicizing, and advertising each Event, the Series, and/or the new Series
                                         sponsor’s or new official fuel supplier’s product/service affiliation with
                                         the Events and/or the Series.a.) Premier Partner. The Parties are engaged in good faith
                                         negotiations to enter into a Premier Partner Agreement related to NASCAR’s Premier
                                         Partnership platform, which Agreement will detail the additional rights and assets to
                                         be delivered by Promoter to the Premier Partner sponsors beyond those assets already
                                         delivered pursuant to this Agreement. Such Premier Partner Agreement shall be negotiated
                                         and entered into simultaneously with this Agreement.25. Approval of Advertising and Sponsors.
                                         It is imperative that NEM events and industry sponsors reflect of the image of NASCAR
                                         as one of the world’s most successful and exciting sports entertainment properties
                                         and that fans feel comfortable and welcome attending or watching NEM events. Therefore,
                                         NEM reserves the right to approve or disapprove any advertising, sponsorship or similar
                                         agreement in connection with any Event. PROMOTER must submit to NEM for NEM’s reasonable
                                         pre-approval any and all Entitlement Sponsors. NEM shall be required to keep the identity
                                         of any such prospective Entitlement Sponsor prospect strictly confidential at all times,
                                         sharing the identity of any such prospective Entitlement Sponsor only with NEM or NASCAR
                                         personnel directly involved with the approval process, and provide such approval or disapproval
                                         in writing within three (3) business day after receipt by NEM of the submission by PROMOTER
                                         to NEM. NEM’s failure to respond shall be deemed an approval. PROMOTER shall make
                                         such submission in a timely fashion to NEM per Section 44, but not later than thirty
                                         (30) days prior to an Event unless PROMOTER’s agreement with such sponsor is only
                                         consummated within that time window. NEM confirms that only internal NEM or NASCAR personnel
                                         will be involved in the process of makingPage 19 of 28

     

     

    

 

the
                                         approval or disapproval determination. NEM’s approval shall not be unreasonably
                                         conditioned, delayed or withheld, and NEM further agrees that it will disapprove of a
                                         prospective Entitlement Sponsor only if such prospective Entitlement Sponsor’s
                                         brand has been tarnished by, controversy, crisis or circumstance such that its association
                                         with the Event or Events would damage the NASCAR brand or the image of the sport, or
                                         the Entitlement Sponsor’s brand would violate the network’s broadcast standards
                                         and practices or if, because, prospective sponsor’s brand has been tarnished by,
                                         controversy, crisis or circumstance it would damage the network’s ability to sell
                                         advertising for the live Event transmission(s).Previously approved sponsors shall continue
                                         to be deemed approved, unless, in NEM’s sole reasonable discretion, the Entitlement
                                         Sponsor’s brand has become tarnished by, controversy, crisis or circumstance such
                                         that its association with an Event would damage the NASCAR brand or the image of the
                                         sport, or the continued use of the Entitlement Sponsor’s brand would violate the
                                         network’s broadcast standards and practices or if, because the existing sponsor’s
                                         brand has now become tarnished by, controversy, crisis or circumstance it would now damage
                                         the network’s ability to sell advertising for the live Event transmission(s).NEM
                                         will work with all affected parties to mitigate the impact of a revocation of a previously
                                         approved Entitlement Sponsor including but not limited to, considering a modified sponsorship,
                                         considering the substitution of another brand owned by the Entitlement Sponsor, reconsidering
                                         the sponsorship at a time when the Entitlement Sponsor brand image has recovered or no
                                         longer violates the broadcaster’s standards and practices or damages their ability
                                         to sell advertising for the live Event transmission(s).The parties acknowledge that sponsorship
                                         is an important part of the sport. If PROMOTER believes a prospective or previously approved
                                         Entitlement Sponsor was denied or disapproved in error, PROMOTER may request reconsideration
                                         within three (3) business days of denial of an Entitlement Sponsor. A committee comprised
                                         of the President of NASCAR, the Executive Vice President and Chief Racing Development
                                         Officer and at least one other NASCAR Vice President or Senior Vice President shall review
                                         the prospective sponsorship and within three (3) additional business days in good faith
                                         reconsider whether the sponsorship is acceptable or whether with some reasonable modification
                                         the sponsorship could be rendered acceptable. However, NASCAR's determination, upon reconsideration,
                                         shall be final and in its sole reasonable discretion not to be unreasonably conditioned,
                                         delayed or withheld.PROMOTER acknowledges that the sale or use, for advertising purposes,
                                         of space at the Facility or in any publications distributed in connection with an Event
                                         is an action that could have an impact upon the existing sponsorships described in Section
                                         24 above, or on third parties who have entered into contracts or other agreements with
                                         NEM, NASCAR or NASCAR Rights Affiliates with respect to Live Transmission Rights or Ancillary
                                         Rights. PROMOTER shall seek written approval by NEM prior to such sale to or use by competitors
                                         of such sponsors or third parties, which NEM may provide or withhold in its sole discretion.In
                                         addition to the foregoing, PROMOTER and NEM shall endeavor to protect the images and
                                         brands of NASCAR, PROMOTER and the broadcast network partner during each Event. This
                                         includes without limitation using commercially reasonable efforts to ensure the removal
                                         of any images or content which are defamatory, obscene, or which NEM determines to be
                                         prejudicial or offensive to the general public under contemporary community standards,
                                         including but not limited to material that the broadcast network partner in good faith
                                         determines is inappropriate for exhibition to the viewing audience. PROMOTER shall use
                                         commercially reasonable efforts to ensure that the Event, including the public attending
                                         the Event and any others within the confines of the racetrack itself, complies with the
                                         foregoing as well as any other reasonable requests of NEM. Without limiting the foregoing,
                                         this includes flags, banners, and/or signs that display symbols, slogans, language or
                                         imagery which NEM, in good faith, deems to be inappropriate.26. Promotional Marketing
                                         Fund. PROMOTER will pay to NEM the amount described in Exhibit 1 for marketing purposes
                                         (the “Promotional Marketing Fund”), which will be utilized by NEM or an Affiliate
                                         exclusively in marketing initiatives to promote the NASCAR series, and is incremental
                                         to and not a substitute for existing efforts by NEM or an Affiliate to market the NASCAR
                                         series. This Promotional Marketing Fund amount is exclusively marketing related, separate
                                         from the competition and officiating related NEM Event Fee, but is due and payable at
                                         the same time and under the same terms as the NEM Event Fee. NEM or an Affiliate shall
                                         create a proposedPage 20 of 28

     

     

    

 

marketing
                                         plan for the promotion of the NASCAR series both nationally and regionally. Prior to
                                         implementation, NEM will share and seek input from PROMOTER regarding the marketing plan.
                                         Following execution, PROMOTER shall provide feedback and marketing information sufficient
                                         for NEM to determine the efficacy of the plan and share the results of the plan with
                                         PROMOTER. NEM will continue its broad based efforts marketing and promoting the NASCAR
                                         series on a national and regional basis. This Promotional Marketing Fund shall be incremental
                                         to and not a substitute for PROMOTER’s current marketing efforts in promoting the
                                         Event, which shall be substantially similar to PROMOTER’s marketing efforts for
                                         NASCAR events prior to the 2021 Event.27. Strategy to Continue to Elevate the Events.
                                         As stated in the Recitals, PROMOTER and NEM are desirous of continuing to enhance and
                                         elevate the stature of the Series, as well as the individual events that are a part of
                                         the Series. Among other things, this includes how the Series is presented at each event,
                                         how events are perceived by fans and stakeholders, and how events individually and collectively
                                         measure up against comparable world-class sports events.a. Event Standards. Accordingly,
                                         beginning as soon as feasible after the execution of this Agreement, PROMOTER and NEM
                                         will work together to develop an agreed-upon strategy to continue to elevate the Events
                                         under this Agreement during the Term including, but not limited to:a) Establishing Series-wide
                                         and Event-specific criteria relative to: i) the spectator fan experience; ii) those portions
                                         of the events experienced by remote viewers; iii) the promotion of the events; iv) and
                                         the stature of the events; b) Establishing quantifiable processes for benchmarking and
                                         gauging the progress, success and compliance with the criteria; c) Reviewing and updating
                                         the criteria on a routine basis, and as needed; d) Determining appropriate methods for
                                         rectifying any shortfalls or deficiencies.Among other things, timely development of and
                                         PROMOTER conformance with the agreed-upon strategy will be a consideration regarding
                                         possible future sanctions after the Term.b. Minimum Attendance. Promoter will use best
                                         efforts to promote the event in a manner intended to achieve a sell out the Event. Promoter
                                         will use best efforts to ensure a minimum spectator attendance in grandstand seating
                                         during the NASCAR Cup Race portion of the Competition of at least seventy percent (70%)
                                         of Capacity of the Facility. The Capacity as used herein shall mean the overall number
                                         of seats within the grandstand seating area present in the Facility on the day of the
                                         NASCAR Cup race portion of the Competition, excluding seats that have been concealed,
                                         bannered or otherwise covered (the “Capacity”). Any seats or stands not included
                                         as part of the Capacity for the Event must be covered, removed or concealed in a first-class
                                         manner reasonably acceptable to NEM and the broadcast partner. Social zones, viewing
                                         platforms or other general areas without permanent seats, and enclosed suites will not
                                         count in calculating a Facility’s Capacity. Such Capacity utilization rate is subject
                                         to force majeure events that legitimately impact the Event attendance. Within fifteen
                                         (15) business days following the Event, Promoter will provide NEM with a ticket report
                                         or manifest, certified by a corporate officer of Promoter, showing the number of tickets
                                         scanned for the Event, the number of tickets sold or distributed for the Event and the
                                         Capacity for the Event. Such report will exclude ticket revenues for such Event. NEM
                                         agrees all such attendance reports provided by Promoter shall remain confidential and
                                         shall not be shared with any third-party without the written consent of Promoter.c. Promoters
                                         Council. To help develop standards, strategies and tactics that enhance and elevate the
                                         stature of the Series, NEM will host a Promoters Council which will meet periodically
                                         each year. Whether or not PROMOTER is selected to serve on the Promoters Council during
                                         the Term, NEM nonetheless welcomes PROMOTER’s input on Series enhancements.Page
                                         21 of 28

     

     

    

 

TRANSMISSION
                                         RIGHTS28. Ownership of Live Transmission Rights and Ancillary Rights. PROMOTER acknowledges
                                         that NASCAR, exclusively and in perpetuity owns the Live Transmission Rights and Ancillary
                                         Rights with respect to the Competitions. In addition, to the extent not already owned
                                         by NASCAR, PROMOTER hereby assigns to NEM exclusively and in perpetuity any and all rights
                                         to transmit, film, tape, capture, overhear, photograph, collect or record by any means,
                                         process, medium or device, whether or not currently in existence, all images, sounds
                                         and data arising from or during the Events and agrees that NEM shall further assign,
                                         exclusively and in perpetuity, to NASCAR all right, title and interest in and to the
                                         Live Transmission Rights and the Ancillary Rights and any other works, copyrightable
                                         or otherwise, created from the images, sounds and data arising from or during the Events,
                                         and that NASCAR shall be the sole and ultimate owner thereto. PROMOTER represents and
                                         warrants that as of the Effective Date of this Agreement, it has not granted to any third
                                         party the rights granted in the immediately prior sentence, including but not limited
                                         to rights relating to the Internet or World Wide Web, unless otherwise expressly disclosed
                                         in writing to NEM prior to the Effective Date of this Agreement. PROMOTER shall take
                                         all steps reasonably necessary, and all steps reasonably requested by NEM, to protect,
                                         perfect or effectuate NASCAR's ownership or other interest in the rights that are the
                                         subject of this Section. Without limiting the foregoing, PROMOTER will include (a) the
                                         transmission rights language for tickets specified in Exhibit 5 of this Agreement on
                                         all Event admission materials including without limitation tickets, suite passes and
                                         credentials, and (b) the transmission rights language for ticket- related material specified
                                         in Exhibit 5 of this Agreement on all renewal forms, ticket brochures and related material
                                         distributed to recipients of such admission materials. PROMOTER may obtain from NEM or
                                         a NASCAR Rights Affiliate, without charge to the PROMOTER, images, sounds or data that
                                         are the subject of this Section, but only for the purpose of publicity, promotion or
                                         advertising of each Event, and only to the extent determined by NEM to be reasonably
                                         required for such purpose.29. Exploitation of Live Transmission Rights and Ancillary
                                         Rights. NASCAR may, but shall not be obligated to, exploit Live Transmission Rights and
                                         Ancillary Rights. If and to the extent NASCAR decides to exploit such rights, it may
                                         form or cause to be formed one or more NASCAR Rights Affiliates and it may assign some
                                         or all of the rights owned by or granted to it pursuant to Section 28 to the extent determined
                                         by NASCAR to be reasonably necessary to permit such exploitation. NASCAR or such NASCAR
                                         Rights Affiliates may further assign, grant, sell, license, lease or otherwise transfer
                                         such rights, either alone or in combination with other similar rights, combine Live Transmission
                                         Rights and Ancillary Rights with other similar rights obtained from other promoters,
                                         Competitors, sponsors, NEM, transmitters, broadcasters or other third parties, enter
                                         into agreements of any kind with respect to any part or all of such rights, including
                                         without limitation agreements with or between NASCAR and other NASCAR Rights Affiliates,
                                         PROMOTER, or third parties, and generally take such action as they may determine to be
                                         appropriate. Subject only to the obligation imposed on NASCAR by the immediately succeeding
                                         sentence in this Section, NASCAR may license, assign, or otherwise transfer rights in
                                         or to any NASCAR Intellectual Property for a commercially reasonable rate to one or more
                                         NASCAR Rights Affiliates, but any income or revenue received or generated by NASCAR as
                                         a result of such a transaction shall be solely for the account of NASCAR or its assignee
                                         and shall not be subject to payment to the PROMOTER or any other person or entity under
                                         the terms of this Agreement. NASCAR shall license, assign, or otherwise transfer rights
                                         in or to any NASCAR Intellectual Property, without fee, to one or more NASCAR Rights
                                         Affiliates to the extent determined by such Affiliates to be reasonably necessary to
                                         permit them to exploit Live Transmission Rights.a) Percentage for Live Transmission Income
                                         and Ancillary Rights Net Income before Industry Expenses and After Income Tax Provision.
                                         The percentage set forth in Exhibit 1 for Live Transmission Income and Net Income before
                                         Industry Expenses and after Income Tax Provision was developed by NEM based upon the
                                         assumption that all scheduled NASCAR Cup Series Events in a given calendar year will
                                         take place and the PROMOTERS of all such Events during that year will be entitled to
                                         their respective percentage allocations. If one or more PROMOTERS are not entitled to
                                         Live Transmission Income and Ancillary Rights Net Income before Industry Expenses and
                                         after Income Tax Provision during that year with respect to one or more Events pursuant
                                         to such PROMOTER's Sanction Agreement(s) (for example, because a Competition was not
                                         commenced and officially completed) or if one or more events are added to the schedule
                                         for that calendar year, then this percentage for PROMOTER shall be recalculated by dividing
                                         it by the aggregate of the percentages attributed by NEM to all other NASCAR Cup Series
                                         events for which PROMOTERS are entitled to Live Transmission Income and Ancillary Rights
                                         Net Income before Industry Expenses and after Income Tax Provision. PROMOTERS of all
                                         such Events will be entitled to their respective percentage allocations. In all cases,
                                         the percentages attributed by NEM to all NASCARPage 22 of 28

     

     

    

 

Cup
                                         Series events in a given calendar year shall be adjusted pro rata to equal a total of
                                         100%. Notwithstanding the above, if PROMOTER’s share of Event Transmission Income
                                         is reduced due to a breach of Section 25 regarding Entitlement Sponsors, then the recalculation
                                         described above shall not apply to other Promoters.30. Payment of Live Transmission Income.
                                         On or before ten (10) business days after the Event is completed, NEM shall cause the
                                         NASCAR Rights Affiliate(s) engaged in the exploitation of Live Transmission Rights to
                                         pay, twenty-five percent (25%) of Event Transmission Income specific to that Event to
                                         NEM or its designated affiliate, acting as Paying Agent, for distribution to the Competitors
                                         as part of the purse for that Event. On or before thirty (30) calendar days after that
                                         Event, NEM shall cause the NASCAR Rights Affiliate(s) to pay sixty-five percent (65%)
                                         of Event Transmission Income specific to that Event to PROMOTER. Notwithstanding the
                                         foregoing:a) PROMOTER has no right to Event Transmission Income specific to that Event
                                         if the Competition is not commenced and officially completed (as determined in accordance
                                         with the Rule Book).b) If, for any reason, the Live Transmission Income to be received
                                         by NEM or the NASCAR Rights Affiliate(s) is reduced in whole or in part, or if NEM or
                                         the NASCAR Rights Affiliate(s) becomes obligated to repay any portion of Live Transmission
                                         Income, the NASCAR Rights Affiliate's obligation to make the payments otherwise required
                                         by this Section shall be reduced by an amount calculated by multiplying the reduction
                                         or repayment by the percentage set forth in Exhibit 1. If payment of the PROMOTER’s
                                         share of Live Transmission Income had been made to PROMOTER prior to the determination
                                         of a reduction in, or an obligation to repay a portion of, Live Transmission Income,
                                         then PROMOTER shall be obligated to repay NEM or the NASCAR Rights Affiliate(s) a prorated
                                         share in accordance with the percentage set forth in Exhibit 1 within thirty (30) calendar
                                         days after notification by NEM. If, for any reason, receipt of the Live Transmission
                                         Income to be received by NEM or the NASCAR Rights Affiliate(s) is delayed in whole or
                                         in part, the payments stipulated in this Section will correspondingly be delayed, but
                                         only to the extent of the original delay in receipt.NASCAR shall receive the NASCAR Television
                                         Retention (ten percent (10%) of Event Transmission Income) for each Event for its own
                                         account.31. Payment of Ancillary Rights Net Income before Industry Expenses and after
                                         Income Tax Provision. NEM will cause the NASCAR Rights Affiliate(s) engaged in the exploitation
                                         of Ancillary Rights to distribute Ancillary Rights Net Income before Industry Expenses
                                         and after Income Tax Provision as follows:a) Timing. On or before April 30th following
                                         the end of the calendar year during which an Event is held, the NASCAR Rights Affiliate(s)
                                         shall determine the total amount of Ancillary Rights Net Income before Industry Expenses
                                         and after Income Tax Provision, if any, earned by it during that calendar year. Within
                                         thirty (30) calendar days after such determination, the NASCAR Rights Affiliate(s) shall
                                         distribute such Ancillary Rights Net Income before Industry Expenses and after Income
                                         Tax Provision (if any) pursuant to the formula set forth in subsection 31.b) below, provided
                                         that any losses from either ancillary rights category (Primary Ancillary Rights Net Income
                                         before Industry Expenses and after Income Tax Provision or Secondary Ancillary Rights
                                         Net Income before Industry Expenses and after Income Tax Provision) shall carry over
                                         from year to year against the same ancillary category and NEM shall have the right to
                                         withhold any future payments from such category of ancillary rights that would otherwise
                                         be due under this Agreement to recover PROMOTER’s share of such loss. Notwithstanding
                                         the foregoing, PROMOTER has no right to Event Primary Ancillary Rights Net Income before
                                         Industry Expenses and after Income Tax Provision or Event Secondary Ancillary Rights
                                         Net Income before Industry Expenses and after Income Tax Provision if there is an Event
                                         of Default giving rise to the termination of this sanction or the withholding of payments
                                         in accordance with Section 34, or if the Competition is not commenced and officially
                                         completed (as determined in accordance with the Rule Book), unless the sole reason that
                                         an Event is not commenced and officially completed is a strike, war, declaration of a
                                         state of national emergency, or an act of God or the public enemy or other circumstances
                                         beyond the control of PROMOTER.Page 23 of 28

     

     

    

 

b)
                                         Allocations:i) Primary Ancillary Rights. The NASCAR Rights Affiliate(s) shall pay: (i)
                                         twenty-five percent (25%) of Primary Ancillary Rights Net Income before Industry Expenses
                                         and after Income Tax Provision relative to the specific calendar year to NEM or its designated
                                         affiliate for distribution in programs designed for the benefit of Competitors, as NEM
                                         may determine from time to time and (ii) sixty-five percent (65%) of Event Primary Ancillary
                                         Rights Net Income before Industry Expenses and after Income Tax Provision relative to
                                         the specific calendar year to PROMOTER. NASCAR shall receive the remaining ten percent
                                         (10%) of Primary Ancillary Rights Net Income before Industry Expenses and after Income
                                         Tax Provision relative to the specific calendar year for its own account.ii) Secondary
                                         Ancillary Rights. The NASCAR Rights Affiliate(s) shall pay: (i) sixty percent (60%) of
                                         Secondary Ancillary Rights Net Income before Industry Expenses and after Income Tax Provision
                                         relative to the specific calendar year to NEM or its designated affiliate for distribution
                                         in programs designed for the benefit of Competitors, as NEM may determine from time to
                                         time and (ii) thirty percent (30%) of Event Secondary Ancillary Rights Net Income before
                                         Industry Expenses and after Income Tax Provision relative to the specific calendar year
                                         to PROMOTER. NASCAR shall receive the remaining ten percent (10%) of Secondary Ancillary
                                         Rights Net Income before Industry Expenses and after Income Tax Provision relative to
                                         the specific calendar year for its own account.32. Maintenance of and Access to Contracts
                                         and Other Books and Records. Each NASCAR Rights Affiliate will maintain for a period
                                         of four (4) years from the date of an Event (a) true and complete copies of any written
                                         Live Transmission Rights Contract relating to that Event and/or any Ancillary Rights
                                         Contract generating Event Primary Ancillary Rights Net Income or Event Secondary Ancillary
                                         Rights Net Income relative to that Event, (b) such books and records as are commercially
                                         reasonable for the purpose of auditing its Live Transmission Income and Net Ancillary
                                         Rights Income before Industry Expenses and after Income Tax Provision earned during the
                                         calendar year in which an Event is held. Each NASCAR Rights Affiliate will permit PROMOTER
                                         or its authorized agent to inspect and audit any or all such contracts, books and records,
                                         wherever they may be located or at any other mutually agreeable location, but only upon
                                         reasonable notice and at such reasonable times as determined by the NASCAR Rights Affiliate,
                                         and only at the business premises of the NASCAR Rights Affiliate where they are located,
                                         and subject at all times to Section 39 (relating to confidentiality and proprietary information).33.
                                         Limitation of Liability. NASCAR and the NASCAR Rights Affiliate(s) shall be solely responsible
                                         for, and shall have complete discretion with respect to, the manner, extent and timing
                                         of any license, assignment, transfer or other use or exploitation of Live Transmission
                                         Rights and Ancillary Rights, either through independent third parties, NASCAR Rights
                                         Affiliate(s) or otherwise. NASCAR, NEM, and the NASCAR Rights Affiliate(s) shall have
                                         no liability to PROMOTER with respect to such activities or the amount of Live Transmission
                                         Income or Ancillary Rights Net Income before Industry Expenses and after Income Tax Provision
                                         arising out of or generated by such activities. PROMOTER hereby promises and covenants
                                         not to assert any claim or file any suit or other legal action against NASCAR, NEM or
                                         any NASCAR Rights Affiliate on the ground that it or they have failed in any way, material
                                         or otherwise, to exploit, maximize or earn profits of any kind or amount with respect
                                         to Live Transmission Rights or Ancillary Rights.GENERAL PROVISIONS34. Events of Default.
                                         For purposes of this Agreement, "Event of Default" means:a) Failure of PROMOTER to abide
                                         by the material provisions of this Agreement or the Rule Book;b) Failure of PROMOTER
                                         to take such actions, or refrain from taking actions, as reasonably may be requested
                                         by NEM in accordance with this Agreement;Page 24 of 28

     

     

    

 

c)
                                         Any act, omission or condition expressly described in this Agreement as giving NEM the
                                         right to terminate this Agreement or the sanction granted by this Agreement;d) A change,
                                         material or otherwise, in the ownership, control or management of PROMOTER;e) A statement
                                         by PROMOTER that it is not or will not be able to pay its debts as they become due; an
                                         application or agreement by PROMOTER for the appointment of a receiver or trustee in
                                         liquidation; a general assignment by PROMOTER for the benefit of creditors; the filing
                                         by PROMOTER of a voluntary petition in bankruptcy or a petition seeking reorganization
                                         or an arrangement of creditors under any bankruptcy law; the filing by another person
                                         or entity of a petition under any bankruptcy law that makes PROMOTER a party; or the
                                         adjudication of PROMOTER as bankrupt under any bankruptcy law;f) Activity by PROMOTER
                                         of any kind that NEM determines to be detrimental to the sport, to NEM, or to NASCAR.g)
                                         Failure to provide financial guarantees, if required, as follows: if NEM becomes aware,
                                         through any means, of a possible change in the PROMOTER’s affairs which might reasonably
                                         be determined to have a material adverse effect on the organization or conduct of one
                                         or more Events including, but not limited to, the withdrawal or reduction of major Event
                                         sponsorship(s), delinquencies or defaults by PROMOTER in payments to NEM or other entities,
                                         litigation relative to one or more Events, PROMOTER or the Facility, failure of PROMOTER
                                         to perform under similar agreements with NEM or third parties for other events, and so
                                         on, then NEM may require PROMOTER to take whatever action that NEM determines is necessary
                                         to insure the successful organization and conduct of one or more Events. Such action
                                         may include, but is not limited to, posting a bond, providing an irrevocable letter of
                                         credit, and/or providing a financial instrument or mechanism sufficient to guarantee,
                                         in NEM’s reasonable discretion, that all financial obligations of the PROMOTER
                                         relative to one or more Events can be met.h) Any act, omission or condition expressly
                                         described in this Agreement as an Event of Default.If there is an Event of Default, at
                                         its option NEM may demand that PROMOTER cure any failure or breach giving rise to the
                                         Event of Default or terminate this Agreement or the sanction granted by this Agreement,
                                         and/or NEM may withhold from any payments due to PROMOTER under this Agreement an amount
                                         reasonably calculated to hold harmless NASCAR, NEM, NASCAR Rights Affiliate(s), sponsors,
                                         Competitors, Officials, persons or entities contracting with NASCAR, NEM or NASCAR Rights
                                         Affiliate(s), with respect to Live Transmission Rights or Ancillary Rights, and other
                                         persons or entities involved in one or more Events, from any loss resulting from the
                                         Event of Default. NEM’s determination as to such amount is binding on PROMOTER.
                                         NEM shall notify PROMOTER in writing of its decision to terminate and/or to withhold
                                         payments. If this Agreement or the sanction granted by this Agreement is terminated,
                                         such termination shall be effective as of the date the notice was sent by NEM or at such
                                         later date as may be specified by NEM in the notice. PROMOTER shall promptly comply with
                                         all monetary obligations that have accrued as of the effective date of termination, and
                                         all other terms and conditions of this Agreement shall survive such termination. Nothing
                                         in this Section shall be construed to limit NEM’s or NASCAR’s other rights
                                         or remedies, or to preclude NEM or NASCAR from enforcing such rights or pursuing such
                                         remedies to the fullest extent possible.35. Assignment. Neither party may assign its
                                         rights or delegate its obligations under this Agreement without the prior written consent
                                         of the other party. For the avoidance of doubt, for purposes of the preceding sentence,
                                         neither (x) a conversion of a party hereto into a different form of business entity pursuant
                                         to applicable law nor (y) a forward merger of a party hereto into an affiliate occurring
                                         in connection with an internal corporate restructuring of entities within an existing
                                         corporate group, nor (z) an assignment to an entity under common control with NEM or
                                         Promoter, in any such case, will constitute an assignment with respect to such party.36.
                                         Determinations by NEM. Except where expressly stated otherwise, whenever this Agreement
                                         provides or permits NEM to make a determination regarding a matter, NEM may make such
                                         determination in its sole judgmentPage 25 of 28

     

     

    

 

and
                                         discretion, and such determination may not be challenged, amended, voided or nullified
                                         on the ground that it was incorrect or unreasonable.37. Limited Application. This Agreement
                                         and the sanction granted herein relate solely to the Events and the dates set forth in
                                         Exhibit 1 to this Agreement or, if applicable, to one or more Event dates adjusted or
                                         postponed by NEM in accordance with this Agreement. Nothing in this Agreement, or in
                                         the course of dealing between the parties, will be construed to require PROMOTER or NEM
                                         to enter into a sanction agreement or to issue a sanction for one or more Events or any
                                         other event in the future.38. Disclaimer of Warranty. NEM (on behalf of itself, NASCAR,
                                         and each and every NASCAR Rights Affiliate, whether existing now or created hereafter)
                                         does not warrant, either expressly or by implication, nor is it responsible for, the
                                         financial or other success of any Event, the number or identity of sponsors, the number
                                         or identity of vehicles or Competitors participating in any Event, the adequacy of the
                                         services it provides, the suitability of the Facility for an Event, the safety of the
                                         public, the Competitors or any other person entering the Facility in connection with
                                         an Event, the financial return from the exploitation of Live Transmission Rights or Ancillary
                                         Rights, or any other matter not expressly agreed to or warranted by NEM herein.39. Proprietary
                                         Information; Confidentiality. PROMOTER acknowledges that (i) this Agreement, (ii) any
                                         technical, business or financial information or documents used, provided or disclosed
                                         by NEM or any NASCAR Rights Affiliate in connection therewith or pursuant thereto, (iii)
                                         customer lists of any kind or nature used, provided or disclosed by NEM or any NASCAR
                                         Rights Affiliate, (iv) the manner in which NEM or any NASCAR Rights Affiliate engages
                                         in the exploitation of Live Transmission Rights or Ancillary Rights, (v) the manner in
                                         which NEM conducts and controls the Competitions, (vi) the manner in which NEM promotes
                                         the Events, the series of which an Event is a part, and the sport of stock car racing
                                         in general, and (vii) the manner in which NASCAR and/or NEM forms, promotes and maintains
                                         relationships with sponsors, Competitors, Officials, other promoters, fans and other
                                         third parties involved in an Event (collectively "NEM Proprietary Information"), constitutes
                                         information that is proprietary to NASCAR, NEM and/or the NASCAR Rights Affiliate(s)
                                         and may not be used by PROMOTER except in connection with the performance of PROMOTER's
                                         duties under this Agreement. Except for that purpose, PROMOTER shall at all times and
                                         forever maintain NEM Proprietary Information in a confidential manner and shall not disclose
                                         it or use it on behalf of itself or any third party unless it is in the public domain
                                         as a result of an act or omission caused by a person or entity other than PROMOTER. PROMOTER
                                         acknowledges that any unauthorized use or disclosure of NEM Proprietary Information that
                                         is in violation of this Section, or other violation or threatened violation of this Section,
                                         could cause irreparable damage to NASCAR, NEM, and/or the NASCAR Rights Affiliate(s)
                                         and, therefore, that NASCAR, NEM, and/or the NASCAR Rights Affiliate(s) shall be entitled
                                         to an injunction prohibiting PROMOTER or any related party from engaging in such violation
                                         and to attorney's fees and costs for having to bring any action to enforce this Section.40.
                                         No Joint Venture. Nothing in this Agreement will be construed to place NASCAR, NEM, or
                                         NASCAR Rights Affiliate(s) in the relationship of a partner or joint venturer with PROMOTER.
                                         Neither party may, or has power to, obligate or bind the other party in any manner other
                                         than as provided expressly in this Agreement.41. Indemnification; Repayment. PROMOTER
                                         shall indemnify and hold NASCAR, NEM and all NASCAR Rights Affiliates and NEM additional
                                         insureds (as specified in subsection 20.a.) harmless from any and all claims, allegations,
                                         demands, obligations, suits, actions, causes of action, proceedings, rights, damages,
                                         and costs of any nature arising out of each Event or this Agreement, unless such claim,
                                         allegation, demand, obligation, suit, action, cause of action, proceeding, right, damage
                                         or cost arises solely out of the negligent act or negligent omission of NASCAR, NEM,
                                         or any NASCAR Rights Affiliate or any NEM additional insureds. With respect to any matter
                                         falling within the scope of PROMOTER's obligation to defend and hold NASCAR, NEM, NEM
                                         additional insureds and the NASCAR Rights Affiliates harmless, NASCAR, NEM and the NASCAR
                                         Rights Affiliate and NEM additional insureds shall be entitled to select counsel to represent
                                         it in such matter at PROMOTER's expense, and that counsel's duties and obligations in
                                         all respects shall be solely to NASCAR, NEM, and to the NASCAR Rights Affiliate(s) and
                                         to the NEM additional insureds.42. Recovery of Attorney's Fees. In the event of litigation
                                         arising out of the enforcement of this Agreement or its terms and conditions, attorney's
                                         fees and costs shall be awarded to the prevailing party.Page 26 of 28

     

     

    

 

43.
                                         Representation Regarding Ownership of Facility. PROMOTER represents and warrants that,
                                         during the calendar years in which the Events are conducted and at all other times material
                                         to this Agreement, with respect to the Facility and the material assets thereof, either
                                         it holds, and will hold at all times relevant to each Event: (i) good and marketable
                                         title; or (ii) a valid and binding leasehold or other contractual interest for the management
                                         and operation of the Facility. PROMOTER represents and warrants that it is the direct
                                         owner or lessee of the material assets (other than real estate) of the Facility and no
                                         material assets (other than real estate) of the Facility are owned or leased through
                                         a subsidiary, affiliate, parent corporation, sister corporation or, in the case of an
                                         individual, a family member of the PROMOTER. In the event PROMOTER is not able to make
                                         such representations and warranties as set forth above, then that entity which can make
                                         such representations and warranties must execute the Guaranty Agreement attached hereto
                                         as Exhibit 6.44. Notice. Unless otherwise permitted herein, notice required by the Agreement
                                         shall be given by email and by overnight mail or other express service, postage prepaid,
                                         addressed as follows:TO NEM: NASCAR Event Management, LLC International Motorsports Center
                                         One Daytona Boulevard Daytona Beach, FL 32114Attention: Steve O’Donnell Email:
                                         sodonnell@nascar.com With a copy to: W. Garrett Crotty, Esq. (at the same location)Email:
                                         gcrotty@nascar.comRequests for NEM approval and/or consent (including but not limited
                                         to Entitlement Sponsor), notification of planned improvements or alterations to the Facility,
                                         and information the PROMOTER must provide to NEM per this Agreement to: sponsorapproval@nascar.com
                                         or send overnight mail to NEM address listed above.TO PROMOTER: The Address set forth
                                         in Exhibit 1 to this Agreement45. Notification Change. Either party may change the person(s)
                                         or location(s) to which notice must be given pursuant to Section 44, by providing written
                                         notice to the other party in accordance herewith.46. Entire Agreement; Amendments. This
                                         Agreement, including Exhibits 1 through 7 hereto, constitutes the entire agreement between
                                         NEM and PROMOTER. All previous communications and negotiations between NEM and PROMOTER,
                                         whether oral or written, not contained herein are hereby withdrawn and void. This Agreement
                                         may not be amended except in writing and signed by both parties.47. Agreement Binding
                                         on Heirs, Successors and Assigns. The rights and obligations contained in this Agreement
                                         shall bind, and inure to the benefit of, the parties and their respective successors
                                         and permitted assigns.48. Governing Law. This Agreement shall be governed by and construed
                                         according to the laws of Florida applicable to agreements made and to be performed therein
                                         (without giving effect to the conflict of law provisions of such jurisdiction).Page 27
                                         of 28

     

     

    

 

49.
                                         Jurisdiction. With respect to any litigation between the parties arising out of, or relating
                                         in any way to, the business relationship between the parties, including but not limited
                                         to any Event, the Agreement, or any proposed business relationship between the parties,
                                         venue shall lie solely in a state court sitting in Volusia County, Florida, or the United
                                         States District Court for the Middle District of Florida, Orlando Division if in a case
                                         of exclusive federal jurisdiction, and all parties hereto consent to service of process
                                         by, and the jurisdiction of, those courts.50. Existing Sanction Agreement. Nothing herein
                                         shall be deemed to amend or modify the existing Sanction Agreement for the Series for
                                         other years between Promoter and NEM, and such Sanction Agreement shall remain in full
                                         force and effect in accordance with its terms and conditions.IN WITNESS WHEREOF, this
                                         Agreement has been read and signed by the duly authorized representative of each party,
                                         on the dates set forth below.Dover International Speedway, Inc. PROMOTER BY:Date: 6/2/2020
                                         /s/ Denis McGlynn SignaturePrint Name: Denis McGlynnTitle Chairman of the BoardNASCAR
                                         Event Management, LLC BY:Date: 6/2/2020 /s/ Stev e O’Donnell SignaturePrint Name:
                                         Stev e O’DonnellTitle: EVP and Chief Racing Development OfficerPage 28 of 28

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