Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 AMENDED AND
RESTATED 
 EMPLOYMENT AGREEMENT 

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) between David E. Flitman (“Executive”), Builders
FirstSource, Inc., a Delaware corporation (the “Company”), and, solely in respect of the agreement to terminate the Prior Employment Agreement (as defined herein) effective as of the Effective Time (as defined herein), BMC Stock
Holdings, Inc., a Delaware corporation (“Boston”), is entered into as of August 26, 2020. 
 RECITALS 

WHEREAS, on August 23, 2018, Executive and Boston entered into that certain employment agreement (the “Prior Employment Agreement”)
pursuant to which, among other things, Executive currently serves as the President and Chief Executive Officer of Boston; 
 WHEREAS, concurrently with
execution of this Agreement, on the date hereof, the Company, Boston Merger Sub I Inc., a Delaware corporation and a direct, wholly owned subsidiary of the Company (“Merger Sub”), and Boston are entering into that certain Agreement
and Plan of Merger (the “Merger Agreement”), pursuant to which, on the terms and subject to the conditions thereof, Merger Sub will be merged with and into Boston, with Boston surviving the Merger as a wholly
owned subsidiary of the Company (the “Merger”) at the Effective Time (as defined in the Merger Agreement); 
 WHEREAS, the Company, Boston
and Executive mutually desire to continue Executive’s employment with the Company from and after the consummation of the Merger, on the terms and subject to the conditions set forth herein, and, in connection with such continued employment, the
Company, Boston and Executive mutually desire to enter into this Agreement on the date hereof and terminate the Prior Employment Agreement with Boston, in each case, effective as of, and subject to the occurrence of, the Effective Time; 

WHEREAS, this Agreement shall become effective as of the Effective Time; provided that the consummation of the Merger shall be a condition precedent to
the effectiveness of this Agreement, and, in the event the Merger Agreement is terminated prior to the consummation of the Merger, this Agreement shall be null and void, ab initio, and of no force or effect; and 

WHEREAS, as of the Effective Time, this Agreement shall supersede and replace in its entirety the Prior Employment Agreement, and this Agreement shall set
forth the terms and conditions of Executive’s employment with the Company from and after the Effective Time. 
 NOW, THEREFORE, in consideration of the
promises and mutual covenants contained herein, the Company, Boston and Executive hereby agree as follows: 

 EXECUTION VERSION 
  

 TERMS AND CONDITIONS 

SECTION 1 

EMPLOYMENT TERMS AND WAIVER OF “GOOD REASON” AT EFFECTIVE TIME 

1.1 Employment. The Company hereby agrees to employ Executive, and Executive hereby accepts such employment by the Company, effective
as of the Effective Time, subject to the consummation of the Merger, for the period and upon the terms and conditions contained in this Agreement. 

1.2 Position and Duties. From and after the Effective Time, for a period of (90) days following the date of the consummation of
the Merger (the “CEO Transition Period”), Executive shall serve as an executive officer of the Company. Effective immediately upon the expiration of the CEO Transition Period, on the ninety-first (91st) day following the Effective Time (the “CEO Effective Date”), Executive is hereby appointed to serve as the President and Chief Executive Officer of the Company. Upon such
appointment, Executive shall have all of the powers and duties in such capacity that are customary to the powers and duties of those of a President and Chief Executive Officer serving in a similar role in a company within the industry in which the
Company operates. The foregoing powers and duties shall be subject to the direction of the Company’s Board of Directors (the “Board”). Executive shall report to the Board. Executive shall be appointed to the Board in accordance
with the Merger Agreement. Executive shall devote Executive’s full business time and attention and full diligence and vigor and good faith efforts to the affairs of the Company. However, Executive may continue his service on the board of
directors of Veritiv Corporation (NYSE: VRTV), to the extent it does not interfere with Executive’s duties to the Company. Executive shall not engage in any other material business duties or pursuits or render any services of a professional
nature to any other entity or person, or serve on any other board of directors (other than a not-for-profit board of directors, and then only to the extent it does not
interfere with his duties to the Company), without the prior written consent of the Board or a Committee designated by the Board to approve such matters. 

1.3 Term. Executive’s employment under this Agreement shall commence immediately upon the consummation of the Merger at the
Effective Time and shall continue for an indefinite term, until terminated in accordance with SECTION 3 below. Certain provisions, however, as more fully set forth in SECTION 4, SECTION 5 and SECTION 6 below, continue in effect beyond the date of
the termination of Executive’s employment (the “Termination Date”). In the event the Merger Agreement is terminated in accordance with its terms prior to the consummation of the Merger, this Agreement shall be null and void,
ab initio, and of no force or effect. Executive agrees that, effective as of the applicable Termination Date, Executive shall resign from all positions held by Executive as an officer, director or otherwise with respect to the Company or any
member of the Company Group (as defined below). 
 1.4 Relocation to Dallas, Texas. Executive shall relocate his permanent residence
to Dallas, Texas within 12 months following the Effective Time and shall be entitled to receive relocation benefits in connection with such relocation pursuant to SECTION 2.4 hereof. In furtherance of the foregoing, notwithstanding anything to the
contrary in the Prior Employment Agreement, Executive hereby waives, effective immediately prior to the Effective Time, any grounds that Executive may have had to resign for Good Reason as a result of, or in connection with, Executive’s
relocation to Dallas, Texas pursuant to this SECTION 1.4. 

  
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 1.5 Waiver of Right to Resign For Good Reason. Executive hereby agrees that
Executive’s employment by the Company from and after the Effective Time on the terms set forth in this Agreement shall be deemed to satisfy in full any requirement pursuant to the Prior Employment Agreement or otherwise that a successor to
Boston upon a Change in Control must assume and continue the Prior Employment Agreement. In addition, Executive hereby waives, effective immediately prior to the Effective Time, any and all rights that Executive may have, under the Prior Employment
Agreement or otherwise, to resign for Good Reason as a result of or in connection with the termination of the Prior Employment Agreement and replacement thereof with this Agreement. 

SECTION 2 

COMPENSATION AND BENEFITS 

2.1 Compensation. 
 (a)
Base Salary. The Company shall pay to Executive an annual base salary at the rate not less than $1,050,000 each calendar year (“Base Salary”), payable in accordance with the Company’s ordinary payroll and withholding
practices from time to time in effect for its employees. During the term of employment hereunder, Executive’s salary shall be reviewed from time to time (but no less than annually) to determine whether an increase (not decrease) in
Executive’s salary is appropriate. Any such increase shall be at the sole discretion of the Board, or where required, the independent directors on the Board, and thereafter any such increased amount shall be Executive’s “Base
Salary” for all purposes. 
 (b) Annual Cash Bonus. During the term of employment, Executive shall be eligible to participate
under the Company’s annual incentive program for executive officers, as in effect and from time to time adopted by the Board (the “Incentive Plan”) for the award of an annual cash bonus (“Annual Cash Bonus”).
The Annual Cash Bonus shall be determined based on a target bonus equal to 125% of Base Salary (the “Target Bonus”), and shall provide for a maximum Annual Cash Bonus opportunity equal to 200% of Base Salary; provided that
Executive’s Annual Cash Bonus in respect of the year during which the Effective Time occurs shall be prorated based on the number of days during such year Executive is employed by the Company. Payment of the Annual Cash Bonus, if any, shall be
made pursuant to the terms and conditions of the Incentive Plan. 
 (c) Annual Equity Grant. During the term of Executive’s
employment, Executive shall be eligible to participate under the applicable equity plan of the Company then in effect (including any of the Boston Stock Plans assumed by the Company), in each case, as amended from time to time, or any successor plan
(collectively, the “Company Equity Plans”), for the award of an annual grant of equity thereunder (the “Annual Equity Grant”). The actual award and amount of any Annual Equity Grant will be determined by the Board
or the Compensation Committee of the Board in accordance with the terms of the applicable Company 

  
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Equity Plan and subject to the provisions thereof. On March 1, 2021 (or such other date not later than March 31 as senior executives of the Company receive equity awards in respect of
the 2021 year) (the “Ordinary 2021 Grant Date”), or, if the Effective Time occurs after the Ordinary 2021 Grant Date, as soon as practicable following the Effective Time, Executive shall receive an initial annual equity award grant
in respect of the 2021 year with a grant date fair market value equal to $4,800,000, as determined by the Board or the Compensation Committee in a manner consistent with the Company’s ordinary practices (the “Initial Equity
Grant”). The Initial Equity Grant shall consist of 50% performance-based restricted stock units (“PRSUs”) and 50% time-vesting restricted stock units (at the annual rate over 3 years of
33-1/3% of such restricted stock units per 12-month period following the grant date) (“TRSUs”) under the Company Equity Plans, in each case, subject to
substantially the same terms and conditions (including with respect to vesting, consistent with the preceding clause) as are applicable to the annual equity awards granted to other senior executives of the Company in respect of the 2021 year.
Executive shall not be entitled to receive an equity grant under the Company Equity Plans in respect of the 2020 year. 
 (d) Sign-On Equity Grant. On the Ordinary 2021 Grant Date or, if the Effective Time occurs after the Ordinary 2021 Grant Date, as soon as practicable following the Effective Time, Executive shall receive a one-time equity award grant of TRSUs with a grant date fair market value equal to $2,000,000, time-vesting at the annual rate over 3 years of 33-1/3% of such TRSUs per 12-month period following the grant date, as determined by the Board or the Compensation Committee in a manner consistent with the Company’s ordinary practices (the
“Sign-On TRSUs”). The Sign-On TRSUs shall be subject to substantially the same terms and conditions (including with respect to vesting consistent with
the preceding sentence) as are applicable to the TRSUs granted pursuant to the Initial Equity Grant in accordance with SECTION 2.1(c). 

2.2 Benefits. 
 (a)
Generally. Executive shall be eligible to participate, to the extent it is legal and permitted by the applicable benefits plans, policies or contracts, in all employee benefits programs that the Company may adopt for its employees generally
providing for sick or other leave, vacation, group health, disability and life insurance benefits. Executive shall be eligible to participate in the Company’s 401(k) plan on the terms and conditions and qualifications of such plan from time to
time in effect, with a Company match (if any) no less favorable than that provided to any other Company executives. Executive shall be entitled to four (4) weeks of paid vacation for each full calendar year of employment, to be accrued in
accordance with the Company’s regular vacation pay policy. 
 (b) Executive. Executive shall be eligible to participate, to the
extent it is legal and permitted by the applicable plans, policies or contracts, in all benefits or fringe benefits which are in effect generally for the Company’s executive personnel from time to time. 

2.3 Expense Reimbursement. The Company shall pay or reimburse Executive for all reasonable expenses incurred in connection with
performing his duties upon presentation of documents in accordance with the reasonable procedures established by the Company. 

  
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 2.4 Relocation Benefits. Executive will be provided relocation benefits in connection
with Executive’s relocation to Dallas, Texas pursuant to the Company’s executive relocation policy; provided, however, that Executive may be entitled to an additional period of covered temporary housing benefits not provided
under such policy as may be approved by the Board on a calendar quarterly basis (in advance); provided, further, that relocation benefits shall include, without limitation, payment or reimbursement to Executive of all expenses incurred
for packing and moving and, if necessary, storage of personal property, expenses incurred in the sale of his current residence and the purchase of a residence in metropolitan Dallas (in each case, including all brokers’ commissions, title
insurance and other title charges, taxes (other than any income tax on capital gain on sale), inspection fees and attorneys’ fees), house-hunting travel expense for Executive and his immediate family, and temporary housing for at least 12
months following the Effective Time, and a $25,000 unitemized miscellaneous expense allowance, and a full gross-up for all federal, state and local taxes incurred by Executive on all such payments or
reimbursements. 
 SECTION 3 

TERMINATION 
 3.1 By
the Company: 
 (a) For Cause. The Company shall have the right at any time, exercisable upon written notice, to terminate
Executive’s employment for Cause. As used in this Agreement, “Cause” shall mean that Executive: 
 (i) has committed
any act or omission that results in, or that may reasonably be expected to result in, a conviction, plea of no contest or imposition of unadjudicated probation for any felony or crime involving moral turpitude; 

(ii) has committed any act of fraud, embezzlement or misappropriation, or engaged in material misconduct or breach of fiduciary duty against
the Company (or any predecessor thereto or successor thereof); 
 (iii) has willfully failed to substantially perform such duties as are
reasonably assigned to him under this Agreement; 
 (iv) has unlawfully used (including being under the influence) or possessed illegal
drugs on the Company’s premises or while performing his duties and responsibilities for the Company; 
 (v) materially fails to
perform Executive’s duties required under Executive’s employment by or other relationship with the Company (it being agreed that failure of the Company to achieve operating results or similar poor performance of the Company shall not, in
and of itself, be deemed a failure to perform Executive’s duties); 
 (vi) fails to comply with a lawful directive of the Board that
is consistent with the Company’s business practices and Code of Ethics; 

  
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 (vii) engages in (A) willful misconduct for which Executive receives a material and
improper personal benefit at the expense of the Company, or (B) accidental misconduct resulting in such a benefit which Executive does not promptly report to the Company and redress promptly upon becoming aware of such benefit; 

(viii) in carrying out his duties under this Agreement, has engaged in acts or omissions constituting gross negligence or willful misconduct
resulting in, or which, in the good faith opinion of the Board, could be expected to result in, substantial economic harm to the Company; 

(ix) has failed for any reason to correct, cease or alter any action or omission that (A) materially violates or does not conform with
the Company’s policies, standards or regulations (including, without limitation, any Company policy or rule related to discrimination or sexual and other types of harassment or abusive conduct), (B) constitutes a material breach of this
Agreement, including SECTION 4, or (C) constitutes a material breach of his duty of loyalty to the Company; or 
 (x) has disclosed
any Proprietary Information (as defined below) without authorization from the Board, except as otherwise permitted by this Agreement, another agreement between the parties or any Company policy in effect at the time of disclosure. 

For purposes of the definition of “Cause”, “Company” shall include any subsidiary, business unit or affiliate of the Company. The Company
shall provide written notice to Executive of any act or omission that the Company believes constitutes grounds for “Cause” pursuant to clause (v), (vi), (vii)(B) or (ix) above, and no such act or omission shall constitute
“Cause” unless Executive fails to remedy such act or omission within ten (10) days of the receipt of such notice; provided that such ten (10) day cure period shall not apply with respect to any matter that is incapable of cure
within such period. 
 (b) Without Cause. The Company may terminate Executive’s employment under this Agreement at any time
without Cause. As used in this Agreement, a termination without Cause shall mean the termination of Executive’s employment by the Company other than for Cause pursuant to SECTION 3.1(a) above. 

3.2 By Executive: 
 (a)
Without Good Reason. Executive may terminate his employment under this Agreement at any time without Good Reason. As used in this Agreement, a termination without Good Reason shall mean termination of Executive’s employment by Executive
other than for Good Reason pursuant to SECTION 3.2(b) below. 
 (b) For Good Reason. Executive shall have the right at any time to
resign his employment under this Agreement for Good Reason at any time following the Effective Time (except as otherwise provided in clauses (ii) and (iii) below). As used in this Agreement, “Good Reason” shall mean the
occurrence of any of the following events, without Executive’s consent: (i) a material diminution in Executive’s Base Salary or Target Bonus, in each case, other than as part of any across-the-board proportionate reduction applying to all senior executives of the Company, (ii) from and after the expiration of the CEO Transition Period, a material diminution

  
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in Executive’s title, authority, duties and responsibilities as compared to Executive’s title, authority, duties and responsibilities set forth herein, (iii) from and after the
expiration of the CEO Transition Period, any requirement that Executive report to anyone but the Board, (iv) any material breach by the Company or any member of the Company Group (as defined below) of this Agreement or Executive’s other
agreements with the Company or any member of the Company Group, including, without limitation, the Company’s failure to appoint Executive to the position of Chief Executive Officer of the Company on the CEO Effective Date or the Company’s
appointment of any other person to such position prior to the CEO Effective Date, (v) there is a Change in Control and the successor to the Company, if applicable, does not assume and continue this Agreement, and (vi) any requirement by
the Company that Executive relocate his personal residence to any city more than fifty (50) miles from Dallas, Texas. 
 Notwithstanding the foregoing,
no event shall be a Good Reason event unless (i) Executive gives the Company written notice that he is resigning for Good Reason within ninety (90) days of the first occurrence of the Good Reason event, and (ii) the Company
(A) accepts such resignation, (B) does not cure such Good Reason event, or (C) disputes the existence of Good Reason, in each case within thirty (30) days of receiving such notice, and in the case of clauses (A) and (B)
Executive’s resignation for Good Reason shall become effective as of the earlier of (x) the date the Company accepts such resignation, or (y) the expiration of the thirty day cure period (provided the Company has not cured the Good
Reason event) and in the case of clause (C) shall become effective only if Good Reason is ultimately determined to exist upon final resolution of the Company’s dispute of his resignation by a court of competent jurisdiction or otherwise.

 (c) The term “Change in Control” shall have the meaning set forth in the Company’s 2014 Incentive Plan, as
may be amended from time to time. 
 3.3 Compensation Upon Termination. Upon termination of Executive’s employment with the
Company, the Company’s obligation to pay compensation and benefits under SECTION 2 shall terminate, except that the Company shall pay to Executive or, if applicable, Executive’s heirs, all earned but unpaid Base Salary under SECTION
2.1(a) and accrued but unused vacation under SECTION 2.2, in each case, through the Termination Date and Executive’s unreimbursed expenses incurred through the Termination Date in accordance with SECTION 2.3. In addition, Executive shall be
entitled to receive (i) any vested amounts or benefits due under any tax-qualified retirement or group insurance plan or program in accordance with the terms thereof, and (ii) other than on an
involuntary termination by the Company for Cause or a voluntary termination by Executive without Good Reason (for the avoidance of doubt, a termination due to Executive’s death or Disability (as defined under the Company’s 2014 Incentive
Plan, as in effect on the date hereof) shall not be “without Good Reason”), his Annual Cash Bonus for any completed fiscal year to the extent earned for such fiscal year and if such bonus has not previously been paid for such completed
fiscal year, at the same time such Annual Cash Bonus would have been paid if Executive had continued in employment (it being understood that in the event of any such termination Executive is not entitled to an Annual Bonus for the then-current
Fiscal Year). If the Company terminates Executive’s employment without Cause, or if Executive terminates his employment for Good Reason, then, in addition, to the foregoing compensation, upon execution and delivery (and non-revocation) by Executive of the Separation Agreement and General Release as set forth in SECTION 6.10, the Company shall pay severance benefits pursuant to SECTION 3.4 below. No

  
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other payments or compensation of any kind shall be paid in respect of Executive’s employment with or termination from the Company. Notwithstanding any contrary provision contained herein,
in the event of any termination of Executive’s employment, the exclusive remedies available to Executive shall be the amounts due under this SECTION 3, which are in the nature of liquidated damages, and are not in the nature of a penalty. 

3.4 Severance Benefits. 

(a) Termination without Cause or for Good Reason. Subject to the terms and conditions of eligibility for Executive’s receipt of
severance benefits under this Agreement, including the timely execution and delivery (and non-revocation) by Executive of the Separation Agreement and General Release as set forth in SECTION 6.10, if the
Company terminates Executive’s employment without Cause or Executive terminates his employment for Good Reason, the Company shall pay to Executive, as severance benefits, which amounts are in addition to the Compensation upon Termination set
forth in SECTION 3.3 herein: 
 (i) An amount equal to (x) if the Termination Date occurs within twelve (12) months following the
Effective Time, 100% of his Base Salary which shall be paid to Executive on a salary continuation basis according to the Company’s normal payroll practices over the twelve (12) month period following the date Executive incurs a Termination
Date, but in no event less frequently than monthly or (y) if the Termination Date occurs after the first anniversary of the Effective Time, 150% of his Base Salary which shall be paid to Executive on a salary continuation basis according to the
Company’s normal payroll practices over the eighteen (18) month period following the date Executive incurs a Separation from Service, but in no event less frequently than monthly. 

(ii) An amount equal to (x) if the Termination Date occurs within twelve (12) months following the Effective Time, 100% of
Executive’s Target Bonus ,which shall be paid to Executive in equal installments according to the Company’s normal payroll practices over the twelve (12) month period following the date Executive incurs a Separation from Service, but
in no event less frequently than monthly, or (y) if the Termination Date occurs after the first anniversary of the Effective Time, 150% of Executive’s Target Bonus, which shall be paid to Executive in equal installments according to the
Company’s normal payroll practices over the eighteen (18) month period following the date Executive incurs a Separation from Service, but in no event less frequently than monthly. 

(iii) Subject to (1) Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act
of 1985, as amended (“COBRA”), and (2) Executive’s continued copayment of premiums at the same level and cost to Executive as if Executive were an employee of the Company (excluding, for purposes of calculating cost, an
employee’s ability to pay premiums with pre-tax dollars), continued participation in the Company’s group health plan (to the extent permitted under applicable law and the terms of such plan) which
covers Executive (and Executive’s eligible dependents) for a period of (x) twelve (12) months if the Termination Date occurs within twelve (12) months following the Effective Time or (y) eighteen (18) months if the Termination
Date occurs after the first anniversary of the Effective Time, in each case, at the Company’s expense, provided that Executive is eligible and remains eligible for COBRA coverage. The Company may modify its obligation under this SECTION
3.4(a)(iii) to the extent reasonably necessary to avoid any penalty or excise taxes imposed on it in connection with the continued payment of premiums by the Company under the Patient Protection and Affordable Care Act of 2010, as amended, or other
applicable law. 

  
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 (b) Notwithstanding any other provision of this Agreement, any severance benefits that would
otherwise have been paid before the Company’s first normal payroll payment date falling on or after the sixtieth (60th) day after the date on which Executive incurs a Separation from Service (the “First Payment Date”) shall be
made on the First Payment Date. Each separate severance installment payment and each other payment that Executive may be eligible to receive under this Agreement shall be a separate payment under this Agreement for all purposes. 

(c) Executive shall have no duty or obligation to mitigate the amounts due under SECTION 3.4(a) above and any amounts earned by Executive from
other employment shall not be offset or reduce the amounts due hereunder. 
 SECTION 4 

CERTAIN AGREEMENTS 
 4.1
Confidentiality. Executive acknowledges that the Company owns and shall own and has developed and shall develop proprietary information concerning its business and the business of its subsidiaries and affiliates and each of their employees,
customers and clients (“Proprietary Information”). Such Proprietary Information includes, among other things, trade secrets, financial information, product plans, customer lists, marketing plans, systems, manuals, training
materials, forecasts, inventions, improvements, know-how and other intellectual property, in each case, relating to the Company’s business. Executive shall, at all times, both during employment by the
Company and thereafter, keep all Proprietary Information in confidence and trust and shall not use or disclose any Proprietary Information without the written consent of the Company, except as necessary in the ordinary course of Executive’s
duties. Executive shall keep the terms of this Agreement in confidence and trust and shall not disclose such terms, except to Executive’s family, accountants, financial advisors, or attorneys, or as otherwise authorized or required by law. The
parties acknowledge that pursuant to the Defend Trade Secrets Act of 2016 (the “DTSA”), an individual may not be held criminally or civilly liable under any Federal or state trade secret law for disclosure of a trade secret
that (i) is made (A) in confidence to a Federal, state or local governmental authority, either directly or indirectly, or to an attorney; and (B) solely for the purpose of reporting or investigating a suspected violation of
applicable law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Nothing in this Agreement or any other agreement Executive has with the Company or any of its affiliates
is intended to conflict with the DTSA or create liability for disclosures of trade secrets that are expressly allowed by such section. Under the DTSA, any employee, contractor, or consultant who is found to have wrongfully misappropriated trade
secrets (as the terms “misappropriate” and “trade secret” are defined in the DTSA) may be liable for, among other things, exemplary damages and attorneys’ fees. Further, nothing in this Agreement or any other agreement
Executive has with the Company or any of its affiliates will prohibit or restrict Executive from making any voluntary disclosure of information or documents related to any violation of law to any governmental agency or legislative body, or any
self-regulatory organization, in each case, without advance notice to the Company. 

  
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 4.2 Company Property. Executive recognizes that all Proprietary Information, however
stored or memorialized, and all identification cards, keys, flash drives, computers, mobile phones, Personal Data Assistants, telephone numbers, access codes, marketing materials, documents, records and other equipment or property which the Company
provides are the sole property of the Company. Upon termination of employment, Executive shall (1) refrain from taking any such property from the Company’s premises, and (2) return any such property in Executive’s possession
within ten (10) business days. 
 4.3 Assignment of Inventions to the Company. Executive shall promptly disclose to the Company
all improvements, inventions, formulas, processes, computer programs, know how and trade secrets developed, whether or not patentable, made or conceived or reduced to practice or developed by Executive, either alone or jointly with others, during
and related to Executive’s employment and the Company’s business or while using the Company’s equipment, supplies, facilities or trade secret information (collectively, “Inventions”). All Inventions and other
intellectual property rights shall be the sole property of the Company and shall be “works made for hire.” Executive hereby assigns to the Company any rights Executive may have or acquire in all Inventions and agrees to perform, during and
after employment with the Company, at the Company’s expense including reasonable compensation to Executive, all acts reasonably necessary by the Company in obtaining and enforcing intellectual property rights with respect to such Inventions.
Executive hereby irrevocably appoints the Company and its officers and agents as Executive’s attorney-in-fact to act for and in Executive’s name and stead with
respect to such Inventions. 
 SECTION 5 

COVENANT NOT TO ENGAGE IN CERTAIN ACTS 

5.1 General. Executive understands and agrees that Executive shall hold a position of significant trust and, in such position of
significant trust, shall provide services and have responsibility with respect to the Company and all of its subsidiaries and affiliates (collectively, the “Company Group”), including, without limitation, contributing to the
acquisition and retention of customers and the generation of goodwill. Executive further understands and agrees that Executive will develop, access and use Proprietary Information for the benefit of the Company Group. The parties understand and
agree that the purpose of the restrictions contained in SECTION 4 and this SECTION 5 is to protect the goodwill and other legitimate business interests of the Company (including its Proprietary Information), and that the Company would not have
entered into this Agreement in the absence of such restrictions. Executive acknowledges and agrees that the restrictions are reasonable and do not, and will not, unduly impair his ability to make a living after the termination of his employment with
the Company. The provisions of SECTION 4 and SECTION 5 shall survive the expiration or sooner termination of this Agreement. 

  
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 5.2 Non-Compete;
Non-Interference; Non-Solicit. During the term of employment and for a period of (i) twelve (12) months after the Termination Date if the Termination Date
occurs within twelve (12) months following the Effective Time or (ii) eighteen (18) months after the Termination Date if the Termination Date occurs after the first anniversary of the Effective Time, Executive shall not, whether for
Executive’s own account or for any other Person, directly or indirectly, with or without compensation: 
 (a) own, manage, operate,
control or participate in the ownership, management, operation or control of, or be employed or engaged in a senior management role by, any corporation, limited liability company, partnership, joint venture, proprietorship or other business entity
or organization that engages in or plans to engage in the business of (i) supplying, distributing, manufacturing, designing, constructing and/or installing structural and related building products, including, without limitation, prefabricated
components, roof and floor trusses, wall panels, stairs, windows, doors, millwork, lumber products, roofing, insulation, hardware and other building products and/or (ii) providing services to customers in connection with any of the foregoing or
otherwise related to residential homebuilding, in each case, (i) and (ii) anywhere in the United States (a “Competing Business”). 

(b) solicit, or call upon or otherwise attempt to solicit, on behalf of any Competing Business, any of the customers, prospective customers,
vendors or suppliers of Company Group; 
 (c) divert or take away, or attempt to divert or take away, any existing business of the Company
Group; 
 (d) induce or entice, or seek to induce or entice, or otherwise interfere with, the Company Group’s business relationship
with, any customer of the Company Group; 
 (e) advance credit or lend money to any third party for the purpose of establishing or operating
any Competing Business; or 
 (f) with respect to any substantially full time independent contractor of the Company Group, employee of the
Company Group or individual who was, at any time during the three months prior to the Termination Date, an employee of the Company Group: (A) hire or retain, or attempt to hire or retain, such individual to provide services for any third party;
or (B) entice away or in any manner persuade or attempt to persuade, such individual to (1) terminate and/or leave his employment or engagement, (2) accept employment with any person or entity other than a member of the Company
Group, or (3) terminate his relationship with the Company Group or devote less of his business time to the Company Group. 
 Notwithstanding the
foregoing, nothing in this SECTION 5.2 will prohibit Executive from acquiring or holding not more than two percent (2%) of any class of publicly traded securities. 

5.3 Cessation/Reimbursement of Payments. Notwithstanding anything to the contrary in this Agreement, if Executive violates any
provision of SECTION 4 or SECTION 5, the Company may, upon giving written notice to Executive, immediately terminate Executive’s employment with the Company for Cause or, in the event the violation occurs following the Termination Date, cease
all payments and benefits that it may be providing to Executive 

  
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pursuant to SECTION 3, and Executive shall be required to reimburse the Company for any payments received from the Company pursuant to SECTION 3; provided, however, that the
foregoing shall be in addition to such other remedies as may be available to the Company and shall not be deemed to permit Executive to forego or waive such payments in order to avoid his obligations under SECTION 4 or SECTION 5; and
provided, further, that any release of claims by Executive pursuant to SECTION 6.10 shall continue in effect. 
 5.4
Survival; Injunctive Relief. Executive agrees that the provisions of SECTION 4 and SECTION 5 shall survive the termination of this Agreement and the termination of Executive’s employment. Executive acknowledges that a breach by him of
the covenants contained in SECTION 4 or SECTION 5 cannot be reasonably or adequately compensated in damages in an action at law and that such breach will cause the Company immeasurable and irreparable injury and damage. Executive further
acknowledges that he possesses unique skills, knowledge and ability and that competition in violation of SECTION 4 or SECTION 5 would be extremely detrimental to the Company. By reason thereof, each of the Company and Executive agrees that the other
shall be entitled, in addition to any other remedies it may have under this Agreement, at law or in equity, or otherwise, to temporary, preliminary and/or permanent injunctive and other equitable relief to prevent or curtail any actual or threatened
violation of SECTION 4 or SECTION 5, without proof of actual damages that have been or may be caused to the Company by such breach or threatened breach, and waives to the fullest extent permitted by law the posting or securing of any bond by the
other party in connection with such remedies. 
 SECTION 6 

MISCELLANEOUS 
 6.1
Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by certified or registered mail, postage prepaid, with return receipt requested, telecopy (with hard copy delivered by
overnight courier service), or delivered by hand, messenger or overnight courier service, and shall be deemed given when received at the addresses of the parties set forth below, or at such other address furnished in writing to the other parties
hereto: 
  

									
		 	To the Company:
		 	
		 	 Builders FirstSource, Inc.
	  		  	
		 	 Attn: General Counsel
	  		  	
		 	 2001 Bryan Street, Suite 1600
	  		  	
		 	 Dallas, Texas 75201
	  		  	
		 		  		  		  	
		 	To Executive:	  	at the home address of Executive maintained in the human resource records of the Company.

 6.2 Severability. The parties agree that it is not their intention to violate any public policy or
statutory or common law. In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, in whole or in part, the remaining provisions of this Agreement shall be unaffected thereby and
shall remain in full force and effect to the fullest extent permitted by law. Without limiting the foregoing, if any portion of SECTION 5 is held to be unenforceable, the maximum enforceable restriction of time, scope of activities and geographic
area will be substituted for any such restrictions held unenforceable. 

  
 12 

 EXECUTION VERSION 
  

 6.3 Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware without regard to its principles of conflicts of laws. Executive: agrees to submit to the jurisdiction of the State of Delaware; agrees that any dispute concerning this Agreement shall be brought
exclusively in a state or federal court of competent jurisdiction in Delaware; and agrees that other than disputes involving SECTION 4 or SECTION 5, all disputes shall be settled through arbitration pursuant to SECTION 6.15. Executive waives any and
all objections to jurisdiction or venue. 
 6.4 Survival. The covenants and agreements of the parties set forth in SECTIONS 4, 5 and
6 are of a continuing nature and shall survive the expiration, termination or cancellation of this Agreement, irrespective of the reason therefor. 

6.5 Entire Agreement. This Agreement contains the entire understanding between the parties hereto with respect to the terms of
employment, compensation, benefits, and covenants of Executive, and supersede all other prior and contemporaneous agreements and understandings, inducements or conditions, express or implied, oral or written, between Executive and the Company
relating to the subject matter of the Agreement, which such other prior and contemporaneous agreements and understandings, inducements or conditions shall be deemed terminated effective on the Effective Time, including without limitation, the Prior
Employment Agreement. For the avoidance of doubt, the parties agree that any and all indemnification agreements between Executive and the Company shall continue in full force unimpaired by this Agreement 

6.6 Binding Effect, Etc. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and
the Company’s successors and assigns, including any direct or indirect successor by purchase, merger, consolidation, reorganization, liquidation, dissolution, winding up or otherwise with respect to all or substantially all of the business or
assets of the Company, and Executive’s spouse, heirs, and personal and legal representatives. 
 6.7 Counterparts; Amendment.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be amended or modified only by written instrument duly
executed by the Company and Executive. 
 6.8 Voluntary Agreement. Executive has read this Agreement carefully, has had the
opportunity to seek advice of counsel and understands and accepts the obligations that it imposes upon Executive without reservation. No other promises or representations have been made to Executive to induce Executive to sign this Agreement.
Executive is signing this Agreement voluntarily and finely. 
 6.9 Successors and Assigns. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors, assigns (including any direct or indirect successor, spouses, heirs and personal and legal representatives). Any such successor or assign of the Company shall be included in
the term “Company” as used in this Agreement. 

  
 13 

 EXECUTION VERSION 
  

 6.10 Release of Claims. In consideration for the compensation and other benefits
provided pursuant to this Agreement, Executive agrees to execute a “Separation Agreement and General Release” to be presented by the Company substantially in the form of Exhibit A attached hereto. The Company’s obligation to
pay severance benefits pursuant to SECTION 3.4 is expressly conditioned on Executive’s execution and delivery of such Separation Agreement and General Release no later than forty-five (45) days after the date Executive incurs a Separation
from Service without revoking it for a period of seven (7) days following delivery. Executive’s failure to execute and deliver such Separation Agreement and General Release within such forty-five (45) day time period (or
Executive’s subsequent revocation of such Separation Agreement and General Release) will void the Company’s obligation to pay severance benefits under this Agreement 

6.11 Withholding. All compensation payable to Executive pursuant to this Agreement will be subject to any applicable statutory
withholding taxes and such other taxes as are required or permitted under applicable law and such other deductions or withholdings as authorized by Executive to be collected with respect to compensation paid to Executive. 

6.12 In-kind Benefits and Reimbursements. Notwithstanding anything to the contrary in this
Agreement, in-kind benefits and reimbursements provided under this Agreement during any tax year of Executive shall not affect in-kind benefits or reimbursements to be
provided in any other tax year of Executive, except for the reimbursement of medical expenses referred to in Section 105(b) of the Internal Revenue Code, as amended (“Code”), and are not subject to liquidation or exchange for
another benefit. Notwithstanding anything to the contrary in this Agreement, reimbursement requests must be timely submitted by Executive and, if timely submitted, reimbursement payments shall be made to Executive as soon as administratively
practicable following such submission, but in no event later than December 31st of the calendar year following the calendar year in which the expense was incurred. In no event shall Executive be entitled to any reimbursement payments after December
31st of the calendar year following the calendar year in which the expense was incurred. This SECTION 6.12 shall apply only to in-kind benefits and reimbursements that would result in taxable compensation
income to Executive. 
 6.13 Section 409A The intent of the parties is that payments and benefits under this Agreement be exempt
from, or comply with, Section 409A of the Code (and the rules and regulations promulgated thereunder) (“Section 409A”), and accordingly, to the maximum extent permitted, this Agreement shall be interpreted
and administered to be in accordance therewith. Notwithstanding anything contained herein to the contrary, Executive shall not be considered to have terminated employment with the Company for purposes of any payments under this Agreement which are
subject to Section 409A until Executive would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A. Each amount to be paid or benefit to be provided under this
Agreement shall be construed as a separate identified payment for purposes of Section 409A, and any payments described in this Agreement that are due within the “short term deferral period” as defined in Section 409A, or
otherwise satisfying an exception under Section 409A, shall not be treated as deferred 

  
 14 

 EXECUTION VERSION 
  

 
compensation unless applicable law requires otherwise. Without limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent required in order to avoid
accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement during the six (6)-month period immediately following
Executive’s separation from service shall instead be paid on the first business day after the date that is six (6) months following Executive’s separation from service (or, if earlier, death). To the extent required to avoid
accelerated taxation and/or tax penalties under Section 409A, amounts reimbursable to Executive under this Agreement shall be paid to Executive on or before the last day of the year following the year in which the expense was incurred and the
amount of expenses eligible for reimbursement (and in-kind benefits provided) during any one year may not effect amounts reimbursable or provided in any subsequent year. In no event shall the timing of
Executive’s execution of a Separation Agreement and General Release pursuant to SECTION 6.10 result, directly or indirectly, in Executive designating the calendar year of any payment hereunder, and, to the extent required by Section 409A,
if a payment hereunder that is subject to execution of a Separation Agreement and General Release could be made in more than one taxable year, payment shall be made in the later taxable year. Notwithstanding anything to the contrary in this
Agreement or any other agreement by and between Executive and any member of the Company Group, to the extent that (i) this Agreement provides for the vesting and settlement of any equity award held by Executive and (ii) such equity award
constitutes nonqualified deferred compensation subject to Section 409A, such equity award shall be settled at the earliest time that will not trigger a Tax or penalty under Section 409A. The Company makes no representation that any or all
of the payments described in this Agreement shall be exempt from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to any such payment. 

6.14 Indemnification, etc. The Company shall provide an indemnification agreement, no less favorable to Executive than such agreement
as applies with Boston prior to the Effective Time, by which it shall indemnify and hold harmless Executive to the fullest extent permitted by law for any action or inaction he takes in good faith with regard to the Company or parent or any benefit
plan of either, in accordance with the Company’s Certificate of Incorporation and By-laws. Further, the Company shall cover Executive on its directors’ and officers’ liability insurance policies
to no less extent than that which covers any other officer or director of the Company. 
 6.15 Arbitration. Except with respect to
the Company’s enforcement of the covenants in SECTION 4 and SECTION 5, in the event that either Executive or the Company (or their successor and assigns, or any other person claiming benefits on behalf of or through them) has a dispute, claim,
question, or disagreement arising from or relating to this Agreement or the breach thereof, the parties hereto shall use their best efforts to settle the dispute, claim, question, or disagreement. To this effect, they shall consult and negotiate
with each other in good faith and, recognizing their mutual interests, attempt to reach a just and equitable solution satisfactory to both parties. If the parties do not reach such solution within a period of 60 days, then, upon written notice by
either party to the other, all such disputes, claims, questions, or differences shall be finally settled by confidential binding arbitration administered by the American Arbitration Association in accordance with the provisions of its Employment
Arbitration Rules, unless such claim is precluded by law from being settled through arbitration. Such arbitration 

  
 15 

 EXECUTION VERSION 
  

 
shall take place in Dallas, Texas. Any arbitrator selected by the parties to arbitrate any such dispute shall have practiced predominately in the field of employment law for no less than ten
years. The arbitrator will have the power to interpret this Agreement. Any determination or decision by the arbitrator shall be binding upon the parties and may be enforced in any court of law. The parties agree that this arbitration provision does
not apply to the right of Executive to file a charge, testify, assist or participate in any manner in an investigation, hearing or proceeding before the Equal Employment Opportunity Commission or any other agency pertaining to any matters covered by
this Agreement and within the jurisdiction of the agency. Both parties agree that this arbitration clause has been bargained for by the parties upon advice of their respective counsel. 

6.16 Code Section 280G. Notwithstanding any other provision of this Agreement, if it is determined that the benefits
or payments payable under this Agreement, taking into account other benefits or payments provided under other plans, agreements or arrangements, constitute Parachute Payments that would subject Executive to tax under Section 4999 of the Code,
it must be determined whether Executive will receive the total payments due or the Reduced Amount. Executive will receive the Reduced Amount if the Reduced Amount results in equal or greater Net After Tax Receipts than the Net After Tax Receipts
that would result from Executive receiving the total payments due. 
 If it is determined that the total payments should be reduced to the Reduced Amount,
the Company must promptly notify Executive of that determination, including a copy of the detailed calculations by an accounting firm or other professional organization qualified to make the calculation that was selected by the Company and
acceptable to Executive (the “Accounting Firm”). The Company shall pay the fees and expenses of the Accounting Firm. All determinations made by the Accounting Firm under this SECTION 6.16 are binding upon the Company and Executive,
subject to any differing determination by the Internal Revenue Service. 
 It is the intention of the Company and Executive to reduce the payments under
this Agreement and any other plan, agreement or arrangement only if the aggregate Net After Tax Receipts to Executive would thereby be increased. 
 If it
is determined that the total payments should be reduced to the Reduced Amount, any reduction shall be in the order that would provide Executive with the largest amount of Net After Tax Receipts (subject to the remainder of this sentence, pro rata if
two alternatives provide the same result) and shall, to the extent permitted by Code Section 280G and 409A be designated by Executive. Executive shall at any time have the unilateral right to forfeit any equity grant in whole or in part. 

For purposes of this Agreement, the term “Net After Tax Receipt” means the Present Value of the total payments or the Reduced Amount,
as applicable, net of all federal, state and local income and payroll taxes imposed on Executive, including Section 4999 of the Code, determined by applying the highest marginal rate of income taxes which applied to Executive’s taxable
income for the immediately preceding taxable year. For purposes of this Agreement, the term “Parachute Payment” means a payment (under this Agreement or any other plan, agreement or arrangement) that is described in
Section 280G(b)(2) of the Code, determined in accordance with Section 280G of the Code and the regulations thereunder. For purposes of this Agreement, the 

  
 16 

 EXECUTION VERSION 
  

 
term “Present Value” means the value determined in accordance with Section 280G(d)(4) of the Code and the regulations thereunder. For purposes of this Agreement, the
term “Reduced Amount” means the largest amount of Parachute Payments that is less than the total Parachute Payments and that may be paid to Executive without subjecting Executive to tax under Section 4999 of the Code.

 [Signatures on following page] 

  
 17 

 EXECUTION VERSION 
  

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

							
	 COMPANY:
	 		 	 EXECUTIVE:

			
	 /s/ Donald F. McAleenan
	 		 	/s/ David E. Flitman
		 		 		 	 David E. Flitman

	By:	 	Donald F. McAleenan	 		 	
	Its:	 	Senior Vice President, General Counsel and Secretary	 		 	

  

							
	Solely in respect of the agreement to terminate the Prior Employment Agreement effective as of the Effective Time:	 		 	
			
	 BOSTON:
	 		 	
			
	 /s/ Jim Major
	 		 	
		 		 		 	
	By:	 	Jim Major	 		 	
	Its:	 	Executive Vice President, Chief Financial Officer and Treasurer	 		 	

 EXECUTION VERSION 
  

 EXHIBIT A 

SEPARATION AGREEMENT AND GENERAL RELEASE 

This Separation Agreement and General Release (this “Agreement”) is made as of by and between [    ]
(“Executive”) and Builders FirstSource, Inc. (the “Company”). For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Termination of Employment. The parties agree that Executive’s employment with the Company and all of its affiliates is
terminated effective as of [    ] (the “Termination Date”). 
 2. Payments Due to
Executive. Executive acknowledges receipt of [ ] ($[    ]) from the Company, representing Executive’s accrued but unpaid Base Salary and accrued unused vacation through the Termination Date. In
addition, Executive shall receive (a) his annual bonus (if any) for the fiscal year completed prior to the Termination Date, to be paid at the same time annual bonuses would have been paid if Executive had continued in employment,
(b) shall receive any vested benefits due under any tax-qualified retirement or group insurance plan or program in accordance with the term thereof, and (c) any unreimbursed business expenses
incurred through the Termination Date. Other than as expressly set forth in this SECTION 2, Executive is not entitled to any consulting fees, wages, accrued vacation pay, benefits or any other amounts with respect to his employment through the
Termination Date. 
 3. Severance Benefits and Continuing Health Insurance Coverage. In consideration of Executive’s
execution and non-revocation of this Agreement in accordance with its terms, the Company agrees to pay to Executive the amounts provided in SECTION 3.4 of that certain Amended and Restated Employment
Agreement, dated as of August __ 2020 by and between Executive and the Company, which amounts are, to the extent known, stated on Attachment A hereto. 

4. General Release. 
 (a)
Executive, on behalf of Executive, his heirs, executors, personal representatives, administrators and assigns, voluntarily, irrevocably, knowingly and unconditionally releases, remises and discharges the Company and all of its current and former
parents, subsidiaries and affiliates, each of their respective members, officers, directors, stockholders, partners, employees, agents, representatives, advisors and attorneys, and each of their respective subsidiaries, affiliates, estates,
predecessors, successors and assigns (collectively, the “Company Parties”) from any and all actions, causes of action, charges, complaints, claims, damages, demands, debts, lawsuits, rights, understandings, obligations, expenses
(including attorneys’ fees and costs), covenants, contracts, promises or liabilities of any kind, nature or description whatsoever, known or unknown, in law or in equity (collectively, the “Claims”) which Executive or
Executive’s heirs, executors, personal representatives, administrators and assigns ever had, now has or may hereafter claim to have by reason of any matter, cause or thing whatsoever (i) arising from the beginning of time through the date
upon which Executive executes this Agreement, including, without limitation, any such Claims arising out of, relating 

  
 1 

 EXECUTION VERSION 
  

 
to or in connection with Executive’s employment or service as a director with the Company, including tort, fraud, or defamation and arising under federal, local or state statute or
regulation, including, without limitation, Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act, the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, the Family and Medical Leave
Act, the Employee Retirement Income Security Act of 1974, the Civil Rights Act of 1991, the Equal Pay Act, the Fair labor Standards Act, 42 U.S.C. § 1981, the Texas Labor Code (including, without limitation, the Texas Payday Law, the Texas
Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, and the Texas Whistleblower Act), each as amended and including each of their respective implementing regulations and/or any other federal, state, local or foreign law (statutory, regulatory
or otherwise), that may be legally waived and released; (ii) arising out of or relating to the termination of Executive’s employment; or (iii) arising under or relating to any policy, agreement, understanding or promise, written or
oral, formal or informal, between the Company or any of the other Company Parties and Executive. 
 (b) Executive agrees that there is a
risk that each and every injury which he may have suffered by reason of his employment relationship might not now be known, and there is a further risk that such injuries, whether known or unknown at the date of this Agreement, might become
progressively worse, and that as a result thereof further damages may be sustained by Executive; nevertheless, Executive desires to forever and fully release and discharge the Company Parties, and he fully understands that by the execution of this
Agreement no further claims for any such injuries may ever be asserted. 
 (c) This general release does not in any way diminish or impair:
(i) any Claims Executive may have that cannot be waived under applicable law, (ii) Executive’s right to enforce this Agreement; (iii) any rights Executive may have to indemnification from personal liability or to protection under
any insurance policy maintained by the Company, including without limitation any general liability, employment practices liability, or directors and officers insurance policy or any contractual indemnification agreement; (iv) Executive’s
right, if any, to government provided unemployment and worker’s compensation benefits; or (v) Executive’s rights under any Company Executive benefit plans (i.e. health, disability or
tax-qualified retirement plans), which by their explicit terms survive the termination of Executive’s employment 

(d) Executive agrees that the consideration set forth in SECTION 3 above shall constitute the entire consideration provided under this
Agreement, and that Executive will not seek from the Company Parties any further compensation or other consideration for any claimed obligation, entitlement, damage, cost or attorneys’ fees in connection with the matters encompassed by this
Agreement. 
 (e) Executive understands and agrees that if any facts with respect to this Agreement or Executive’s prior treatment by
or employment with the Company are found to be different from the facts now believed to be true, Executive expressly accepts, assumes the risk of, and agrees that this Agreement shall remain effective notwithstanding such differences. Executive
agrees that the various items of consideration set forth in this Agreement fully compensate for said risks, and that Executive will have no legal recourse against the Company in the event of discovery of a difference in facts. 

  
 2 

 EXECUTION VERSION 
  

 (f) Executive agrees to the release of all known and unknown claims, including expressly the
waiver of any rights or claims arising out of the Federal Age Discrimination in Employment Act, 29 U.S.C. § 621, et seq. (“ADEA”), and in connection with such waiver of ADEA claims, and as provided by the Older Worker Benefit
Protection Act, Executive understands and agrees as follows: 
 (i) Executive has the right to consult with an attorney
before signing this Agreement, and is hereby advised to do so; 
 (ii) Executive shall have a period of forty-five
(45) days from the Termination Date (or from the date of receipt of this Agreement if received after the Termination Date) in which to consider the terms of the Agreement (the “Review Period”). Executive may at his option
execute this Agreement at any time during the Review Period. If Executive does not return the signed Agreement to the Company prior to the expiration of the 45 day period, then the offer of severance benefits set forth in this Agreement shall lapse
and shall be withdrawn by the Company; and 
 (iii) Executive may revoke this Agreement at any time during the first seven
(7) days following Executive’s execution of this Agreement, and this Agreement and release shall not be effective or enforceable until the seven-day period has expired (“Revocation Period
Expiration Date”). Notice of a revocation by Executive must be made to the designated representative of the Company (as described below) within the seven (7) day period after Executive signs this Agreement. If Executive revokes this
Agreement, it shall not be effective or enforceable against the Company Parties. Accordingly, the “Effective Date” of this Agreement shall be on the eighth (8th) day after Executive signs the Agreement and returns it to the Company,
and provided that Executive does not revoke the Agreement during the seven (7) day revocation period. 
 In the event Executive elects to revoke this
release pursuant to SECTION 4(f)(iii) above, Executive shall notify Company by hand-delivery, express courier or certified mail, return receipt requested, within seven (7) days after signing this Agreement to: ATTN: General Counsel, Builders
FirstSource, Inc., [ADDRESS]. In the event that Executive exercises his right to revoke this release pursuant to SECTION 4(f)(iii) above, any and all obligations of Company under this Agreement shall be null and void. Executive agrees that by
signing this Agreement prior to the expiration of the forty-five (45) day period he has voluntarily waived his right to consider this Agreement for the full forty-five (45) day period. Executive further agrees that any changes to this
Agreement made during the Review Period, whether material or immaterial, shall not restart the 45-day consideration period. 

5. Review of Agreement; No Assignment of Claims. Executive represents and warrants that he (a) has carefully read and
understands all of the provisions of this Agreement and has had the opportunity for it to be reviewed and explained by counsel to the extent Executive deems it necessary, (b) is voluntarily entering into this Agreement, (c) has not relied
upon any representation or statement made by the Company or any other person with regard to the subject matter or effect of this Agreement, (d) has not transferred or assigned any Claims and (e) has not filed any complaint or charge
against any of the Company Parties with any local, state, or federal agency or court. 

  
 3 

 EXECUTION VERSION 
  

 6. No Claims. Each party represents that it has not filed any Claim against the
other Party with any state, federal or local agency or court; provided, however, that nothing in this Agreement shall be construed to prohibit Executive from filing a Claim, including a challenge to the validity of this Agreement, with
the Equal Employment Opportunity Commission (“EEOC”) or participating in any investigation or proceeding conducted by the EEOC. 

7. Interpretation. This Agreement shall take effect as an instrument under seal and shall be governed and construed in
accordance with the laws of the State of Texas without regard to provisions or principles thereof relating to conflict of laws. 
 8.
Agreement as Defense. This Agreement may be pleaded as a full and complete defense to any subsequent action or other proceeding arising out of, relating to, or having anything to do with any and all Claims, counterclaims, defenses or
other matters capable of being alleged, which are specifically released and discharged by this Agreement. This Agreement may also be used to abate any such action or proceeding and/or as a basis of a cross complaint for damages. 

9. Nondisclosure of Agreement. The terms and conditions of this Agreement are confidential. Executive agrees not to disclose the
terms of this Agreement to anyone except immediate family members and Executive’s attorneys and financial advisers. Executive further agrees to inform these people that the Agreement is confidential and must not be disclosed to an one else.
Executive may disclose the terms of this Agreement if compelled to do so by a court, but Executive agrees to notify the Company immediately if anyone seeks to compel Executive’s testimony in this regard, and to cooperate with the Company if the
Company decides to oppose such effort. Executive agrees that disclosure by Executive in violation of this Agreement would cause so much injury to the Company that money alone could not fully compensate the Company and that the Company is entitled to
injunctive and equitable relief. Executive also agrees that the Company would be entitled to recover money from Executive if this Agreement were violated. 

10. Ongoing Covenants. Executive acknowledges that nothing in this Agreement shall limit or otherwise impact Executive’s
continuing obligations of confidentiality to the Company in accordance with Company policy and applicable law, or any applicable Company policies or agreements between the Company and Executive with respect to
non-competition or non-solicitation, and Executive covenants and agrees to abide by all such continuing obligations. 

11. No Adverse Comments. Executive agrees not to make, issue, release or authorize any written or oral statements, derogatory or
defamatory in nature, about the Company, its affiliates or any of their respective products, services, directors, officers or executives, provided that the foregoing shall not be violated by truthful testimony in response to legal process, normal
competitive statements, rebuttal of statements by the other or actions to enforce his rights. Nothing herein prohibits Executive from communicating, without notice to or approval by the Company, with any federal government agency about a potential
violation of a federal law or regulation. 
 12. Integration; Severability. Except with respect to any continuing obligations to the
Company, the terms and conditions of this Agreement constitute the entire agreement between Company and Executive and supersede all previous communications, either oral or 

  
 4 

 EXECUTION VERSION 
  

 
written, between the parties with respect to the subject matter of this Agreement. No agreement or understanding varying or extending the terms of this Agreement shall be binding upon either
party unless in writing signed by or on behalf of such party. In the event that a court finds any portion of this Agreement unenforceable for any reason whatsoever, Company and Executive agree that the other provisions of the Agreement shall be
deemed to be severable and will continue in full force and effect to the fullest extent permitted by law. 
 13. EXECUTIVE ACKNOWLEDGES
THE FOLLOWING: HE HAS ENTERED INTO THIS AGREEMENT KNOWINGLY, VOLUNTARILY AND OF HIS OWN FREE WILL WITH A FULL UNDERSTANDING OF ITS TERMS; HE HAS READ THIS AGREEMENT; THAT HE FULLY UNDERSTANDS ITS TERMS; THAT EXECUTIVE IS ADVISED TO CONSULT AN
ATTORNEY FOR ADVICE; THAT HE HAS THE RIGHT TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THIS AGREEMENT; THAT HE HAS HAD AMPLE TIME TO CONSIDER HIS DECISION BEFORE ENTERING INTO THE AGREEMENT; THAT HE IS SATISFIED WITH THE TERMS OF THIS AGREEMENT
AND AGREES THAT THE TERMS ARE BINDING UPON HIM; AND THAT HE HAS BEEN ADVISED BY THE COMPANY OF HIS ABILITY TO TAKE ADVANTAGE OF THE CONSIDERATION PERIOD AFFORDED BY SECTION 4 ABOVE. 

IN WITNESS WHEREOF, the parties have executed this Agreement with effect as of the date first above written. 

 

							
	 COMPANY:
	 		 	 EXECUTIVE:

			
	 	 		 	 
		 		 		 	
	By:	 		 		 	 David E. Flitman

	Its:	 		 		 	

  
 5 

 EXECUTION VERSION 
  

 SEVERANCE AGREEMENT 

ATTACHMENT A 
 The following
severance benefits are payable pursuant to SECTION 3.4 of Executive’s Employment Agreement:gmgi_ex101.htm

EXHIBIT 10.1
     
 SUBSCRIPTION AGREEMENT
 GOLDEN MATRIX GROUP, INC.
 (a Nevada corporation)
  
 Golden Matrix Group, Inc., a Nevada corporation (the “Company”), is offering for purchase to a limited number of qualified investors up to an aggregate of 900,000 units (the “Maximum Amount”), each consisting of one share of common stock $0.00001 par value per share (the “Shares” or the “Common Stock”) and one warrant to purchase one share of Common Stock (the “Warrants”, and together with the Shares, the “Units” or “Securities”) (the “Offering”) for $3.40 per Unit. The Units are being offered on a “best efforts, no minimum” basis to a limited number of accredited investors and non-”U.S. Persons”. The Offering is made in reliance upon an exemption from registration under the federal securities laws provided by Rule 506(b) of Regulation D and Regulation S of the Securities Act of 1933, as amended. The minimum investment is $25,500.00 (the “Purchase Price”), although the Company may, in its discretion, accept subscriptions for a lesser amount. The Company reserves the right to reject orders for the purchase of Units in whole or in part, and if a subscription is rejected the subscriber’s funds will be returned without interest the next business day after rejection. There is no minimum amount required for an initial closing, and all proceeds will be available for immediate use by the Company. Additionally, the Company, in its sole discretion, may waive or increase the Maximum Amount, without notice to prospective investors or subscribers in the Offering.
   
 INSTRUCTIONS TO INVESTORS
  
 Persons wishing to subscribe for Units in the Company must perform the following:
  
 	  
	 1. 
	Thoroughly read and review (a) the Subscription Agreement attached hereto; (b) the form of Warrant to Purchase Common Stock, attached hereto as Exhibit A; and (c) the Information for Residents of Certain States, attached hereto as Exhibit B.
	  
	  
	  

	  
	 2. 
	Complete page 2, being certain to indicate, your name, entity type, the number of Units you will purchase and the total purchase price.
	  
	  
	  

	  
	 3. 
	Complete and execute pages 17 to 19 (as applicable), and 20 to 27, as applicable. These pages must be fully completed as applicable and signed.
	  
	  
	  

	  
	 4. 
	Wire funds to the Company:

  
 Golden Matrix Group Inc.
 3651 Lindell Rd, Ste D131, Las Vegas NV 89103, USA
  
 Citibank
 3900 Paradise Rd Ste M, Las Vegas, NV 89169, USA
 Wire Transfer: 
 SWIFT                                      CITIUS33 
 ABA                                          322271724 For Wires 
 ACH                                           122401710
  
 Account Number: 500411145
   
 	  
	 5. 
	Upon acceptance of the Subscription by the Company, the Company will provide you a copy of the counter-signed Subscription Agreement and a signed Warrant Agreement for your records.

   
 	 
	
	

	 

     
 SUBSCRIPTION AGREEMENT
 IN
 GOLDEN MATRIX GROUP, INC.
  
 Golden Matrix Group, Inc.
 Attn: Anthony Goodman
 3651 Lindell Road, Suite D131 
 Las Vegas, Nevada 89103
  
 A. Subscription. This Agreement has been executed by , a/an , residing and/or having a (Individual/Corporation/LLC/Trust/Partnership) principal place of business in ___________________ (“Purchaser”, or “Subscriber”) (Country/State and City) in connection with the subscription to purchase ________ units, each consisting of one share of restricted common stock, $0.00001 par value per share (the “Shares” or the “Common Stock”) and one warrant to purchase one share of Common Stock (the “Warrants”, and together with the Shares, the “Units” or “Securities”) for $3.40 per Unit (the “Purchase Price”) of Golden Matrix Group, Inc., a Nevada corporation (the “Company”), to multiple investors, as part of a “best efforts, no minimum” offering, defined herein as the “Offering”) by the Company. The Offering is made in reliance upon an exemption from registration under the federal securities laws provided by Rule 506(b) of Regulation D and Regulation S of the Securities Act of 1933, as amended. The minimum investment is $25,500.00, although the Company may, in its discretion, accept subscriptions for a lesser amount. The Company reserves the right to reject orders for the purchase of Units in whole or in part, and if a subscription is rejected the subscriber’s funds will be returned without interest the next business day after rejection. There is no amount required for an initial closing, and all proceeds will be available for immediate use by the Company. The Company, in its sole discretion, may waive or increase the amount of the Offering, currently 900,000 Units (the “Maximum Amount”), without prior notice to prospective investors or subscribers in the Offering. The Warrants have an exercise price of $4.10 per share and an expiration date two years from the date of the Company’s acceptance of this Subscription Agreement.
  
 When the context in which words are used in this Subscription Agreement (“Agreement”) indicates that such is the intent, singular words shall include the plural, and vice versa, and masculine words shall include the feminine and neuter genders, and vice versa. Any reference to a person shall include an individual, trust, estate, or any incorporated or unincorporated organization, including general or limited partnerships, limited liability companies, corporations, joint ventures and cooperatives, and all heirs, executors, administrators, legal representatives, successors and assigns of such person where permitted or required by the context. Captions are inserted for convenience only, are not a part of this Agreement, and shall not be used in the interpretation of this Agreement.
  
 B. Acceptance of Subscription. It is understood and agreed that the Company shall have the right to accept or reject this subscription (the “Subscription”), in whole or in part, and that the same shall be deemed to be accepted by the Company only when it is signed by the Company.
  
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 C. Representations and Warranties of Subscriber. Subscriber hereby represents and warrants to the Company as follows: 
  
 i) Subscriber has such knowledge and experience in financial and business matters that Subscriber is capable of evaluating the merits and risks of an investment in the Company and the suitability of the Securities as an investment for Subscriber;
  
 ii)
  
 (1) Subscriber is an Accredited Investor; “Accredited Investor” means:
  
 (A) an individual who has a net worth (either individually or jointly with spouse) in excess of $1,000,000 (excluding the individual’s principal residence); or an individual who had an individual income (NOT including joint income with spouse) in excess of $200,000 in each of the two most recent tax years and reasonably expects individual income in excess of $200,000 during the current tax year; or an individual who had an income (including joint income with spouse) in excess of $300,000 in each of the two most recent tax years and reasonably expects individual income in excess of $300,000 during the current tax year. “Income” for this purpose is computed by adding the following items to adjusted gross income for federal income tax purposes: (a) the amount of any tax-exempt interest income received; (b) the amount of losses claimed as a limited partner in a limited partnership; (c) any deduction claimed for depletion; (d) deductions for alimony paid; (e) deductible amounts contributed to an IRA or Keogh retirement plan; and (f) any amount by which income from long-term capital gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section 1202 of the Code; or
  
 (B) an entity which is one of the following, not formed solely for the purpose of subscribing for the Securities:
  
 	  
	 (a) 
	A bank, as defined in Section 3(a)(2) of the Securities Act of 1933, as amended (the “Securities Act” or the “1933 Act”) or a savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act of 1933, whether acting in an individual or a fiduciary capacity;
	  
	  
	  

	  
	 (b) 
	An insurance company, as defined in Section 2(13) of the Securities Act of 1933;
	  
	  
	  

	  
	 (c) 
	An investment company registered under the Investment Company Act of 1940;
	  
	  
	  

	  
	 (d) 
	A business development company, as defined in Section 2(a) (48) of the Investment Company Act of 1940;

  
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	 (e) 
	A small business investment company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958;
	  
	  
	  

	  
	 (f) 
	An employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974 and the investment is made by Subscriber as a plan fiduciary, as defined in Section 3(21) of such Act, and Subscriber is a bank, insurance company or a registered investment advisor, or has total assets in excess of $5 million;
	  
	  
	  

	  
	 (g) 
	A private business development company as defined in Section 202(a) (22) of the Investment Advisers Act of 1940;
	  
	  
	  

	  
	 (h) 
	An organization described in Section 501 (c)(3) of the Internal Revenue Code, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring Securities, with total assets in excess of $5 million;
	  
	  
	  

	  
	 (i) 
	An irrevocable trust with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring Securities, whose purchase is directed by a person with such knowledge and experience in financial and business matters that (s)he is capable of evaluating the merits and risks of the prospective investment;
	  
	  
	  

	  
	 (j) 
	A revocable trust that is revocable by its grantors, each of whose grantors is an accredited investor, qualifies as an accredited investor for the purposes of the subscription (each grantor should complete the individual accredited information questionnaire, and describe the fact that they are grantors of the trust on such individual questionnaire below); or
	  
	  
	  

	  
	 (k) 
	An entity in which all of the equity owners are Accredited Investors; or

  
 (2) a non “U.S. person” as such term is defined under Regulation S as promulgated by the Securities and Exchange Commission (“SEC”) under authority of the Securities Act; resides outside of the United States; was not solicited for an investment in this Offering by the Company or any person or entity acting on its behalf while he, she or it, was located within the United States; has not entered into this Agreement inside the United States; and certifies under penalty of perjury that it is neither a citizen nor a resident of the United States and the following definitions and acknowledgements are applicable to the current purchase. 
  
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	 (A) A 
	“U.S. person” is defined by Regulation S of the Securities Act as:

  
 	  
	 ·
	Any natural person resident in the United States;
	  
	  
	  

	  
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	Any partnership or corporation organized or incorporated under the laws of the United States;
	  
	  
	  

	  
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	Any estate of which any executor or administrator is a U.S. person;
	  
	  
	  

	  
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	Any trust of which any trustee is a U.S. person;
	  
	  
	  

	  
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	Any agency or branch of a foreign entity located in the United States;
	  
	  
	  

	  
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	Any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person;
	  
	  
	  

	  
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	Any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and
	  
	  
	  

	  
	 ·
	Any partnership or corporation if organized or incorporated under the laws of any foreign jurisdiction; and formed by a U.S. person principally for the purpose of investing in securities not registered under the Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a)) who are not natural persons, estates or trusts;

  
 (B) At the time the buy order for the Securities was originated, Subscriber was outside the United States;
  
 (C) Subscriber is purchasing the Securities for his, her or its own account and not on behalf of any U.S. person, and the sale has not been pre-arranged with a purchaser in the United States; 
  
 (D) All offering documents received by the Subscriber include statements to the affect that the securities have not been registered under the 1933 Act and may not be offered or sold in the United States or to U.S. persons unless the securities are registered under the 1933 Act or an exemption from the registration requirement is available; 
  
 (E) Subscriber has been informed that the Securities will not be registered in the United States under the 1933 Act, and are being offered and sold pursuant to this Agreement in reliance on an exemption from the registration requirements of the 1933 Act for non-public offerings; 
  
 (F) The “United States” means the United States of America, its territories and possessions, any State of the United States, and the District of Columbia; and
  
 (G) The Subscriber will comply with all of the requirements of Regulation S of the 1933 Act.
  
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 (H) No one other than the Subscriber has any beneficial interest in the Securities. The Subscriber is purchasing the Securities for its account for the purpose of investment and not (i) with a view to, or for sale in connection with, any distribution thereof; or (ii) for the account or on behalf of any U.S. person.
  
 (I) The Subscriber will not (i) resell or offer to resell the Securities, or any portion thereof, or (ii) engage in hedging transactions, in each case, except in accordance with the terms of this Subscription and in accordance with Regulation S, pursuant to registration under the Securities Act or pursuant to an available exemption from registration under the Securities Act and otherwise in compliance with all applicable securities laws. 
  
 (J) The Subscriber will not, during the period commencing on the date of issuance of the Subscription and ending on the first anniversary of such date, or such shorter period as may be permitted by Regulation S or other applicable securities law (the “Restricted Period”), offer, sell, pledge or otherwise transfer the Securities in the United States, or to a U.S. person for the account or for the benefit of a U.S. Person, or otherwise in a manner that is not in compliance with Regulation S. 
  
 (K) The Subscriber will, after expiration of the Restricted Period, offer, sell, pledge or otherwise transfer the Securities only pursuant to registration under the Securities Act or an available exemption therefrom and, in accordance with all applicable state and foreign securities laws.
  
 (L) The Subscriber was not in the United States, engaged in, and prior to the expiration of the Restricted Period will not engage in, any short selling of or any hedging transaction with respect to the Securities, including without limitation, any put, call or other option transaction, option writing or equity swap.
  
 (M) Neither the Subscriber nor or any person acting on its behalf has engaged, nor will engage, in any directed selling efforts to a U.S. Person with respect to the Securities and the Subscriber and any person acting on his behalf have complied and will comply with the “offering restrictions” requirements of Regulation S under the Securities Act.
  
 (N) The transactions contemplated by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of a plan or scheme to evade the registration requirements of the Securities Act.
  
 (O) Neither the Subscriber nor any person acting on its behalf has undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for any of the Securities. The Subscriber agrees not to cause any advertisement of the Securities to be published in any newspaper or periodical or posted in any public place and not to issue any circular relating to the Securities, except such advertisements that include the statements required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories, and only in compliance with any local applicable securities laws.
    
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 iii) The Subscriber is acquiring the Securities for his, her or its own account for long-term investment and not with a view toward resale, fractionalization or division, or distribution thereof, and he, she or it does not presently have any reason to anticipate any change in his, her or its circumstances, financial or otherwise, or particular occasion or event which would necessitate or require his, her or its sale or distribution of the Securities. No one other than the Subscriber has any beneficial interest in said securities. No person has made to the Subscriber any written or oral representations: (x) that any person will resell or repurchase any of the Securities; (y) that any person will refund the purchase price of any of the Securities, or (z) as to the future price or value of any of the Securities;
  
 iv) Subscriber has received no representations or warranties from the Company, or its affiliates, employees or agents regarding the Securities or suitability of an investment in the Securities or the Company other than those set forth herein and attached hereto;
  
 v) Subscriber is able to bear the economic risk of the investment in the Securities and Subscriber has sufficient net worth to sustain a loss of Subscriber’s entire investment in the Company without economic hardship if such a loss should occur; 
  
 vi) Subscriber has had an opportunity to inspect relevant documents relating to the organization and operations of the Company. Subscriber acknowledges that all documents, records and books pertaining to this investment which Subscriber has requested have been made available for inspection by Subscriber and Subscriber’s attorney, accountant or other adviser(s);
  
 vii) Subscriber has had an opportunity to ask questions of and receive satisfactory answers from the Company, or any person or persons acting on behalf of the Company, concerning the terms and conditions of this investment and the Offering and the Securities, and all such questions have been answered to the full satisfaction of Subscriber. The Company has not supplied Subscriber any information for investment purposes other than as contained in this Agreement and the attachments hereto, and Subscriber is relying on its own investigation and evaluation of the Company and the Securities in making an investment hereunder and not on any other information whatsoever, including, but not limited to, any presentations or other materials, other than this Agreement and the attachments, provided to the Subscriber by the Company;
  
 viii) The Subscriber recognizes that the investment herein is a speculative venture and that the total amount of funds tendered to purchase Securities is placed at the risk of the business and may be completely lost. The purchase of Securities as an investment involves special risks;
  
 ix) The Subscriber: (i) if a natural person, represents that the Subscriber has reached the age of 21 and has full authority, legal capacity and competence to enter into, execute and deliver this Agreement and all other related agreements or certificates and to take all actions required pursuant hereto and thereto and to carry out the provisions hereof and thereof, or (ii) if a corporation, partnership, or limited liability company or partnership, or association, joint stock company, trust, unincorporated organization or other entity, represents that such entity was not formed for the specific purpose of acquiring the Units and such entity is duly organized, validly existing and in good standing under the laws of the state of its organization. Subscriber is a bona fide resident and domiciliary of the state set forth in the Investor Application (the “Qualification Questionnaire”) and has no present intention to become a resident of any other state or jurisdiction;
    
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 x) Subscriber acknowledges and is aware of the following:
  
 (1) There are substantial restrictions on the transferability of the Securities; the Securities will not be, and investors in the Company have no right to require that the Securities be registered under the Securities Act; there may not be any public market for the Securities; Subscriber may not be able to use the provisions of Rule 144 of the Securities Act with respect to the resale of the Securities; and accordingly, Subscriber may have to hold the Securities indefinitely and it may not be possible for Subscriber to liquidate Subscriber’s investment in the Company. Subscriber agrees that the Securities shall not be sold, transferred, pledged or hypothecated unless such sale is exempt from registration under the Securities Act. Subscriber also acknowledges that Subscriber shall be responsible for compliance with all conditions on transfer imposed by any blue sky or securities law administrator and for any expenses incurred by the Company for legal or accounting services in connection with reviewing a proposed transfer; 
  
 (2) No federal or state agency has made any finding or determination as to the fairness of the Offering of the Securities for investment or any recommendation or endorsement of the Securities; 
  
 (3) The Securities have not been approved or registered under any Blue Sky law or with any State Securities Division, and as such, there may be restrictions on the sale or transfer of such Securities under State law; and
  
 (4) The purchase of Securities under this Subscription Agreement is expressly conditioned upon the exemption from qualification of the offer and sale of the Securities from applicable Federal, state and provincial securities laws. The Company shall not be required to qualify this transaction under the securities laws of any jurisdiction and, should qualification be necessary, the Company shall be released from any and all obligations to maintain its offer, and may rescind any sale contracted, in the jurisdiction; provided, however, that upon any such rescission, the Company shall promptly return to Subscriber all funds received by the Company from the Subscriber prior to such rescission.
  
 xi) The Subscriber has carefully considered and has, to the extent he, she or it believes such discussion is necessary, discussed with his, her or its professional, legal, tax and financial advisors, the suitability of an investment in the Securities for his, her or its particular tax and financial situation and that the Subscriber and his, her or its advisers, if such advisors were deemed necessary, have determined that the Securities are a suitable investment for him, her or it;
  
 xii) The Subscriber has not become aware of this Offering and has not been offered Securities by any form of general solicitation or advertising, including, but not limited to, advertisements, articles, notices or other communications published in any newspaper, magazine, or other similar media or television or radio broadcast or any seminar or meeting where, to the Subscriber’s knowledge, those individuals that have attended have been invited by any such or similar means of general solicitation or advertising; 
  
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 xiii) The Subscriber realizes that the Securities cannot readily be sold and will be restricted securities and therefore the Securities must not be purchased unless the Subscriber has liquid assets sufficient to assure that such purchase will cause no undue financial difficulties and the Subscriber can provide for current needs and possible personal contingencies; 
  
 xiv) The Subscriber confirms and represents that he, she or it is able (i) to bear the economic risk of his, her or its investment, (ii) to hold the Securities for an indefinite period of time, and (iii) to afford a complete loss of his, her or its investment. The Subscriber also represents that he, she or it has (i) adequate means of providing for his, her or its current needs and possible personal contingencies, and (ii) has no need for liquidity in this particular investment;
  
 xv) The Subscriber understands that the Securities are being offered and sold to he, she, or it in reliance on specific exemptions from or non-application of the registration requirements of federal and state securities laws and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Subscriber set forth herein in order to determine the applicability of such exemptions and the suitability of the Subscriber to acquire the Securities. All information which the Subscriber has provided to the Company concerning the Subscriber’s financial position and knowledge of financial and business matters is correct and complete as of the date hereof, and if there should be any material change in such information prior to acceptance of this Agreement by the Company, the Subscriber will immediately provide the Company with such information;
  
 xvi) The Subscriber has the requisite power and authority to enter into and perform the transactions contemplated by this Agreement and the purchase of the Securities. The execution, delivery and performance of this Agreement by the Subscriber and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate, partnership or other entity action, and no further consent or authorization of the Subscriber or its Board of Directors, managers, stockholders, members, trustees, holders or partners, as the case may be, as required. When executed and delivered by the Subscriber, this Agreement shall constitute a valid and binding obligation of the Subscriber enforceable against the Subscriber in accordance with its terms;
  
 xvii) The Subscriber has not agreed to act with any of the other investors for the purpose of acquiring, holding, voting or disposing of the Securities purchased hereunder for purposes of Section 13(d) under the Securities Exchange Act of 1934, as amended, and the Subscriber is acting independently with respect to its investment in the Securities;
  
 xviii) The Subscriber is a bona fide resident or operates its principal place of business as set forth in this Subscription Agreement and Qualification Questionnaire, which Qualification Questionnaire Subscriber has completed completely and honestly; 
   
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 xix) The Subscriber confirms and certifies that:
  
 	  
	 (a) 
	Subscriber is in receipt of and has carefully and thoroughly read and reviewed and understands (i) the form of Warrant to Purchase Common Stock, attached hereto as Exhibit A; and (ii) the Information for Residents of Certain States, attached hereto as Exhibit B. 
	  
	  
	  

	  
	 (b) 
	Prior to the Subscriber’s entry into this Agreement, Subscriber has had an opportunity to review, and has in fact reviewed, (i) the Company’s Annual Report on Form 10-KT for the transition period from August 1, 2019 to January 31, 2020, filed with the Securities and Exchange Commission (SEC) on June 8, 2020; and (ii) the Company’s current reports on Form 8-K and Form 10-Qs as filed with the SEC (which filings can be accessed by going to https://www.sec.gov/search/search.htm, typing “Golden Matrix” in the “Company name” field, and clicking the “Search” button), from February 1, 2020, to the date of such Subscriber’s entry into this Agreement, in each case (i) through (ii), including the audited and unaudited financial statements, description of business, risk factors, results of operations, certain transactions and related business disclosures described therein (collectively the “Disclosure Documents”) and an independent investigation made by him, her or it of the Company. Subscriber acknowledges that due to his, her or its receipt of and review of the information described above, it has received similar information as would be included in a Registration Statement filed under the Securities Act.
	  
	  
	  

	  
	 (c) 
	The Subscription hereunder is irrevocable by Subscriber, and, except as required by law, Subscriber is not entitled to cancel, terminate or revoke this Agreement or any agreements of Subscriber hereunder and that this Subscription Agreement and such other agreements shall survive the death or disability of Subscriber and shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, legal representatives and permitted assigns. If Subscriber is more than one person, the obligations of Subscriber hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by and be binding upon each such person and his or her heirs, executors, administrators, successors, legal representatives and permitted assigns.
	  
	  
	  

	  
	 (d) 
	No federal or state agency has made any findings or determination as to the fairness of the terms of this Offering for investment purposes; or any recommendations or endorsements of the Securities.
	  
	  
	  

	  
	 (e) 
	The Offering is intended to be exempt from registration under the Securities Act by virtue of Section 4(a)(2) of the Securities Act and the provisions of Rule 506(b) of Regulation D and/or Regulation S thereunder, which is in part dependent upon the truth, completeness and accuracy of the statements made by the Subscriber herein.

  
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	 (f) 
	It is understood that in order not to jeopardize the Offering’s exempt status under Section 4(a)(2) and/or Rule 506(b) of the Securities Act and Regulation D or Regulation S, any transferee may, at a minimum, be required to fulfill the investor suitability requirements thereunder.
	  
	  
	  

	  
	 (g) 
	The Company may pay broker’s, finder’s or similar fees of up to 7% of the total gross amount of the Offering.
	  
	  
	  

	  
	 (h) 
	Subscriber, as required by the Internal Revenue Code, certifies under penalty of perjury that 1) the Social Security Number or Federal Identification Number provided below is correct and 2) Subscriber is not subject to backup withholding either because Subscriber has not been notified that Subscriber is subject to backup withholding as a result of a failure to report interest or dividends, or because the Internal Revenue Service has notified Subscriber that Subscriber is no longer subject to backup withholding.
	  
	  
	  

	  
	 (i) 
	IN MAKING AN INVESTMENT DECISION, SUBSCRIBER MUST RELY ON HIS, HER, OR ITS OWN EXAMINATION OF THE COMPANY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. THE SECURITIES HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
	  
	  
	  

	  
	 (j) 
	THIS SUBSCRIPTION DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS NOT PERMITTED UNDER APPLICABLE LAW OR TO ANY FIRM OR INDIVIDUAL THAT DOES NOT POSSESS THE QUALIFICATIONS PRESCRIBED IN THIS SUBSCRIPTION.

  
 xx) The Subscriber confirms and acknowledges that this is a “best efforts, no minimum” Offering; that the Company need not raise any certain level of funding; that regardless of the amount of funding raised in the Offering, the Company will not return any of the undersigned’s investment herein assuming the Subscription is accepted by the Company; and the Company is not required to use the funds raised in this Offering for any particular purpose or towards any specific use of proceeds. The Subscriber further confirms that the Company may undertake additional offerings in the future and/or may issue shares to consultants or employees at offering prices below that of the Offering, which may cause dilution to the Subscriber; and
  
 xxi) The Subscriber expressly represents and warrants to the Company that (a) before executing this Agreement, he, she or it has fully informed itself, himself or herself of the terms, contents, conditions and effects of this Agreement and the exhibits, and the Units; (b) the Subscriber has relied solely and completely upon its own judgment in executing this Agreement; (c) the Subscriber has had the opportunity to seek and has obtained the advice of its own legal, tax and business advisors before executing this Agreement and the exhibits; and (d) the Subscriber has acted voluntarily and of its, his or her own free will in executing this Agreement. 
  
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 D. Indemnification. Subscriber acknowledges that Subscriber understands the meaning and legal consequences of the representations and warranties in paragraph C hereof, and Subscriber hereby agrees to indemnify and hold harmless the Company and its affiliates, partners, officers, directors, agents, attorneys, and employees from and against any and all loss, damage or liability due to or arising out of a breach of any such representations or warranties and the breach of any representations and warranties whatsoever made herein. Notwithstanding the foregoing, however, no representation, warranty, acknowledgment or agreement made herein by Subscriber shall in any manner be deemed to constitute a waiver of any rights granted to Subscriber under federal or state securities laws. The representations and warranties set forth herein shall survive the date upon which the Subscriber becomes a shareholder of the Company and/or the date of this Agreement in the event the Company does not accept the Subscriber’s subscription. No representation, warranty or covenant in this Agreement, nor the Qualification Questionnaire, contains any untrue statement of a material fact, or omits to state a material fact necessary to make the statements contained therein, in light of the circumstances under which they were or are to be made, not misleading.
  
 E. Compliance with Securities Laws. Subscriber understands and agrees that a legend has been or will be placed on any certificate(s) or other document(s) evidencing the Securities in substantially the following form:
  
 	  
	 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES ACT. THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS (I) THEY SHALL HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND ANY APPLICABLE STATE SECURITIES ACT, OR (II) THE CORPORATION SHALL HAVE BEEN FURNISHED WITH AN OPINION OF COUNSEL, SATISFACTORY TO COUNSEL FOR THE CORPORATION, THAT REGISTRATION IS NOT REQUIRED UNDER ANY SUCH ACTS.
	  

     
 F. Future Financings and Offerings. Subscriber recognizes that the Company may seek to raise additional financing and working capital through a variety of sources in the future, and that although the Company may undertake one or more public or private offerings of its debt or equity securities, there can be no assurance that any such offering will be made or, if made, that it will be successful. Moreover, Subscriber understands and agrees that the Company reserves the right to make future offers, either public or private, of securities, including, but not limited to, promissory notes, shares of common stock, preferred stock or warrants, on terms that may be more than or less favorable than the Units. Subscriber further confirms that Subscriber has no right to purchase any securities in any future offerings.
   
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 G. Confidentiality. Subscriber agrees to maintain in confidence all information furnished by the Company or its agents that may be deemed to be material nonpublic information, including, but not limited to the fact that the Offering is being made and the terms and conditions of this Offering.
  
 H. Piggyback Registration Rights. The Company covenants and agrees that if, at any time prior to the Registration Rights Expiration Date (defined below), it proposes to file a registration statement with respect to any class of equity or equity-related securities (other than in connection with an offering to the Company’s employees or in connection with an acquisition, merger or similar transaction, i.e., a Form S-4 or Form S-8) under the Securities Act in a primary registration on behalf of the Company and/or in a secondary registration on behalf of holders of such securities, and the registration form to be used may be used for the issuance or resale of the Shares and the shares of Common Stock issuable upon exercise of the Warrants (the “Warrant Shares”), the Company will either include such Shares and Warrant Shares (collectively, the “Registrable Securities”) in such registration statement or give prompt written notice to Subscriber of its intention to file such registration statement and will offer to include in such registration statement, such number of Shares with respect to which the Company has received written requests for inclusion therein within twenty (20) days after the giving of notice by the Company (the “Piggyback Registration Rights”). The Subscriber shall also provide the Company customary and reasonable representations and confirmations regarding the Registrable Securities held by the Subscriber, information relating to the beneficial ownership of other securities of the Company held by such Subscriber, information regarding the persons with voting and dispositive control over the Subscriber and such other information as the Company or its legal counsel may reasonably request, as a condition to including such Registrable Securities in the Registration Statement. The Subscriber acknowledges and understands that the Company shall not be required to include Registrable Securities in a registration statement relating solely to an offering by the Company of securities for its own account if the managing underwriter or placement agent shall have advised the Company in writing that the inclusion of such securities will have a material adverse effect upon the ability of the Company to sell securities for its own account, and provided further that the Subscriber is not treated less favorably than others seeking to have their securities included in such registration statement. Notwithstanding the obligations set forth above, if any SEC guidance sets forth a limitation on the number of securities permitted to be registered on a particular registration statement as a secondary offering, the number of Registrable Securities to be registered on such registration statement will be reduced pro rata between the Subscriber (or other parties) whose securities are included in such registration statement. The “Registration Rights Expiration Date” is the earlier of (a) one year from the date that the Subscription Agreement is accepted by the Company; and (b) the date that the Subscriber is eligible to sell the Registrable Securities under Rule 144.
  
 Page 12 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

     
 I. U.S.A. Patriot Act and Anti-Money Laundering Representations. Subscriber represents and warrants that Subscriber is not and is not acting as an agent, representative, intermediary or nominee for, a person identified on the list of blocked persons maintained by the Office of Foreign Assets Control, U.S. Department of Treasury. In addition, Subscriber is in full compliance with all applicable U.S. laws, regulations, directives, and executive orders imposing economic sanctions, embargoes, export controls or anti-money laundering requirements, including but not limited to the following laws: (1) the International Emergency Economic Powers Act, 50 U.S.C. 1701-1706; (2) the National Emergencies Act, 50 U.S.C. 1601-1651; (3) section 5 of the United Nations Participation Act of 1945, 22 U.S.C. 287c; (4) Section 321 of the Antiterrorism Act, 18 U.S.C. 2332d; (5) the Export Administration Act of 1979, as amended, 50 U.S.C. app. 2401-2420; (6) the Trading with the Enemy Act, 50 U.S.C. app. 1 et seq.; (7) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56; and (8) Executive Order 13224 (Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism) of September 23, 2001. The Subscriber represents that the amounts invested by it in the Company in the Offering were not and are not directly or indirectly derived from activities that contravene federal, state or international laws and regulations, including anti-money laundering laws and regulations (collectively, the “Regulations”). To the best of the Subscriber’s knowledge, none of: (1) the Subscriber; (2) any person controlling or controlled by the Subscriber; (3) if the Subscriber is a privately-held entity, any person having a beneficial interest in the Subscriber; or (4) any person for whom the Subscriber is acting as agent or nominee in connection with this investment is a country, territory, individual or entity named on an Office of Foreign Assets Control (“OFAC”) list, or a person or entity prohibited under the OFAC Programs. Subscriber will provide additional information or take such actions as may be necessary or advisable for the Company, in its sole judgment, to comply with any such Regulations.
  
 J. Entire Agreement. This Subscription is the entire and fully integrated agreement of the parties regarding the subject matter hereof, and there are no oral representations, warranties, agreements, or promises pertaining to this Subscription, or the Securities, whether set forth in any presentations other documents or information provided to the Subscriber or otherwise.
  
 K. Construction. The parties acknowledge that each of them has had the benefit of legal counsel of its own choice and has been afforded an opportunity to review this Agreement with its legal counsel and that this Agreement shall be construed as if jointly drafted by the parties hereto. All references in this Agreement as to gender shall be interpreted in the applicable gender of the parties. 
  
 L. Purchase Payment. The Purchase Price shall be paid to the Company in cash, check or via wire transfer simultaneously with the Subscriber’s entry into this Agreement.
  
 M. Construction of Terms. As used in this Agreement, the terms “herein,” “herewith,” “hereof” and “hereunder” are references to this Agreement, taken as a whole; the term “includes” or “including” shall mean “including, without limitation;” the word “or” is not exclusive; and references to a “Section,” “subsection,” “clause,” “Exhibit,” “Appendix,” “Schedule,” “Annex” or “Attachment” shall mean a Section, subsection, clause, Exhibit, Appendix, Schedule, Annex or Attachment of this Agreement, as the case may be, unless in any such case the context requires otherwise. Exhibits, Appendices, Schedules, Annexes or Attachments to any document shall be deemed incorporated by reference in such document. All references to or definitions of any agreement, instrument or other document (a) shall include all documents, instruments or agreements issued or executed in replacement thereof, and (b) except as otherwise expressly provided, shall mean such agreement, instrument or document, or replacement or predecessor thereto, as modified, amended, supplemented and restated through the date as of which such reference is made.
  
 Page 13 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.  
 	 
	
	

	 

     
 N. Effect of Facsimile and Photocopied Signatures. This Agreement may be executed in several counterparts, each of which is an original. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts. A copy of this Agreement signed by one party and (a) faxed to another party or (b) scanned and emailed to another party, shall be deemed to have been executed and delivered by the signing party as though an original. A photocopy or PDF of this Agreement shall be effective as an original for all purposes.
  
 O. Severability. The holding of any provision of this Subscription Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect any other provision of this Subscription Agreement, which shall remain in full force and effect.
  
 P. Further Assurances. The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.
   
 Q. Governing Law. This Agreement shall be interpreted in accordance with the laws of the State of Nevada. In the event of a dispute concerning this Agreement, the parties agree that venue lies in a court of competent jurisdiction in Clark County, Nevada.
  
 R. Collection of Personal Information. The Subscriber (on its own behalf and, if applicable, on behalf of any person for whose benefit the Subscriber is subscribing) acknowledges and consents to the fact the Company is collecting the Subscriber’s (and any beneficial purchaser’s) personal information pursuant to this Agreement. The Subscriber (on its own behalf and, if applicable, on behalf of any person for whose benefit the Subscriber is subscribing) acknowledges and consents to the Company retaining the personal information for as long as permitted or required by applicable law or business practices. The Subscriber (on its own behalf and, if applicable, on behalf of any person for whose benefit the Subscriber is subscribing) further acknowledges and consents to the fact the Company may be required by applicable securities laws and stock exchange rules to provide regulatory authorities any personal information provided by the Subscriber respecting itself (and any beneficial purchaser). By executing this Agreement, the Subscriber is deemed to be consenting to the foregoing collection, use and disclosure of the Subscriber’s (and any beneficial purchaser’s) personal information. The Subscriber also consents to the filing of copies or originals of any of the Subscriber’s documents described herein as may be required to be filed with any stock exchange or securities regulatory authority in connection with the transactions contemplated hereby. The Subscriber represents and warrants that it has the authority to provide the consents and acknowledgments set out in this paragraph on behalf of all beneficial purchasers.
  
 S. Amount of Subscription. The undersigned hereby subscribes to _____________ Units for an aggregate amount of $___________.
   
 Page 14 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

     
 “PURCHASER”
  
 Check enclosed in the amount of $____________ or Wire Transfer Sent in the Amount of $__________
  
 Subscribed for: _______________ Units. 
  
 Social Security or Taxpayer I.D. Number [required if applicable]: _______________________ 
   
 Business Address (including zip code): _________________________________________
 Business Phone: ( ) ________________________________________________________ 
   
 Residence Address (including zip code) _________________________________________
 Residence Phone: ( ) ________________________________________________________ 
   
 All communications to be sent to: ☐ Business or ☐ Residence Address
  
 Name Units should be registered in:__________________________________________
  
 If different than subscriber name please advise of the reason for such difference:
 _____________________________________________________________________
  
 Address for registration of Securities:_________________________________________
  
 Email Address:__________________________________________
  
 Please indicate on the following pages the form in which you will hold title to your interest in the securities. PLEASE CONSIDER CAREFULLY. ONCE YOUR SUBSCRIPTION IS ACCEPTED, A CHANGE IN THE FORM OF TITLE CONSTI-TUTES A TRANSFER OF THE INTEREST IN THE SECURITIES AND MAY THEREFORE BE RESTRICTED BY THE TERMS OF THIS SUBSCRIPTION, THE SECURITIES AND MAY RESULT IN ADDITIONAL COSTS TO YOU. Subscribers should seek the advice of their attorneys in deciding in which of the forms they should take ownership of the interest in the securities, because different forms of ownership can have varying gift tax, estate tax, income tax, and other consequences, depending on the state of the investor’s domicile and his or her particular personal circumstances.
  
 Page 15 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

    
 Please select one of the following forms of ownership:
  
 	 ☐
	INDIVIDUAL OWNERSHIP (one signature required)
	  
	  

	 ☐
	JOINT TENANTS WITH RIGHT OF SURVIVORSHIP AND NOT AS TENANTS IN COMMON (both or all parties must sign)
	  
	  

	 ☐
	signatures required if interest held in both names)
	  
	  

	 ☐
	TENANTS IN COMMON (both or all parties must sign)
	  
	  

	 ☐
	sign, and include a copy of the Partnership Agreement)
	  
	  

	 ☐
	sign, and include a copy of the Limited Partnership Agreement and any other document showing that the investment is authorized)
	  
	  

	 ☐
	sign, and include a copy of the LIMITED LIABILITY COMPANY’s Operating Agreement and any other documents necessary to show the investment is authorized.)
	  
	  

	 ☐
	sign, and include a copy of the Corporation’s Articles and certified Corporate Resolution authorizing the signature)
	  
	  

	 ☐
	show the investment by the Trustee is authorized. The date of the trust must appear on the Notarial where indicated.)

  
  
 PLEASE ALSO COMPLETE PAGES 17 THROUGH 19, AS APPLICABLE, BELOW, AND THE QUESTIONNAIRE BEGINNING ON PAGE 20 OF THIS SUBSCRIPTION AGREEMENT, WHICH IS A REQUIRED PART OF THIS AGREEMENT.
  
 Page 16 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

 EXECUTION
  
 Please execute this Subscription Agreement by completing the appropriate section below.
  
 1. If the subscriber is an INDIVIDUAL, complete the following:
  
 		 		 	
	Signature of Subscriber	 	 	 	 
		 		 	
		 	 	 	 
	Name (please type or print)	 	 	 	 
		 		 	
		 	 	 	 
	Signature of Spouse or Co-Owner if funds are to be invested as joint tenants by the entirety
 or community property.
	 	 	 	 
	  
	  
	  
	  
	  

		 		 	
	 Name (please type or print)
	 	 	 	 

   
 2. If the subscriber is a CORPORATION, complete the following:
  
 The undersigned hereby represents, warrants and covenants that the undersigned has been duly authorized by all requisite action on the part of the corporation listed below (“Corporation”) to acquire the Units and, further, that the Corporation has all requisite authority to acquire such Units.
  
 The officer signing below represents and warrants that each of the above representations or agreements or understandings set forth herein applies to that Corporation and that he has authority under the articles of incorporation, bylaws, and resolutions of the board of directors of such Corporation to execute this Subscription Agreement. Such officer encloses a true copy of the articles of incorporation, the bylaws and, as necessary, the resolutions of the board of directors authorizing a purchase of the investment herein, in each case as amended to date.
  
 	  
	  

	 Name of Corporation (please type or print)
	

     
 	By:		
	  
		 
	Name:		 
	  
	  
	  

	Title:	 	 

  
 Page 17 of 27 
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 Golden Matrix Group, Inc.
 	 
	
	

	 

    
 3. If the subscriber is a PARTNERSHIP, complete the following:
  
 The undersigned hereby represents, warrants and covenants that the undersigned is a general partner of the partnership named below (“Partnership”), and has been duly authorized by the Partnership to acquire the Units and that he has all requisite authority to acquire such Units for the Partnership.
  
 The undersigned represents and warrants that each of the above representations or agreements or understandings set forth herein applies to that Partnership and he is authorized by such Partnership to execute this Subscription Agreement. Such partner encloses a true copy of the partnership agreement of said Partnership, as amended to date, together with a current and complete list of all partners thereof.
   
 	  
	  

	 Name of Partnership (please type or print)
	

     
 	By:		
	  
		 
	Name:		 
	  
	  
	  

	Title:	 	 

   
 4. If the subscriber is a TRUST, complete the following:
  
 The undersigned hereby represents, warrants and covenants that he is duly authorized by the terms of the trust instrument (“Trust Instrument”) for the (“Trust”) set forth below to acquire the Units and the undersigned, as trustee, has all requisite authority to acquire such Units for the Trust.
  
 The undersigned, as trustee, executing this Subscription Agreement on behalf of the Trust, represents and warrants that each of the above representations or agreements or understandings set forth herein applies to that Trust and he is authorized by such Trust to execute this Subscription Agreement. Such trustee encloses a true copy of the Trust Instrument of said Trust as amended to date.
        
 	  
	  

	  
	 Name of Trust (Please type or print)

	  
	  
	  

	  
	By:	
	  
	  
	
	  
	Name:	
	  
	  
	  

	  
	Title:	 

  
 Page 18 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

           
 5. If the subscriber is a LIMITED LIABILITY COMPANY, complete the following:
  
 The undersigned hereby represents, warrants and covenants that the undersigned has been duly authorized by all requisite action on the part of the Limited Liability Company listed below (“Company”) to acquire the Units and, further, that the Company has all requisite authority to acquire such Units.
  
 The officer signing below represents and warrants that each of the above representations or agreements or understandings set forth herein applies to that Company and that he has authority under the articles of organization, company agreement, and resolutions of the managers and/or members, as applicable, of such Company to execute this Subscription Agreement. Such officer encloses a true copy of the articles of organization, the operating agreement and, as necessary, the resolutions of the managers and/or members authorizing a purchase of the investment herein, in each case as amended to date.
           
 	  
	  

	 Name of Trust (Please type or print)
	  

	  
	  
	  

	By:		  

	  
		  

	Name:		  

	  
	  
	  

	Title:	 	  

	  
	  
	  

	 ACCEPTED BY THE COMPANY this the _____ day of _________, 2020.

	  
	  
	  

	 GOLDEN MATRIX GROUP, INC.
	  

	  
	  
	  

	 By: 
	  
	  

	  
	  
	  

	 Name: 
	  
	  

	  
	  
	  

	 Title: 
	  
	  

     
 PLEASE ALSO COMPLETE THE QUESTIONNAIRE BEGINNING ON PAGE 
 20 OF THIS SUBSCRIPTION AGREEMENT, WHICH IS A REQUIRED PART OF THIS AGREEMENT. 
    
 Page 19 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

    
 Subscription Documents - Continued
 GOLDEN MATRIX GROUP, INC. (THE “COMPANY”)
 INVESTOR APPLICATION
 (QUALIFICATION QUESTIONNAIRE)
 (CONFIDENTIAL)
  
 ALL INFORMATION CONTAINED IN THIS APPLICATION WILL BE TREATED CONFIDENTIALLY. The undersigned understands, however, that the Company may present this application to such parties as the Company, in its discretion, deems appropriate when called upon to establish that the proposed offer and sale of the Securities are exempt from registration of the Securities Act of 1933, as amended, or meet the requirements of applicable securities and blue sky laws. 
  
 PART I - INDIVIDUALS (OTHERS COMPLETE PART II)
  
 	 1. 
	Name: ______________________________________________________________
	  
	  

	 2. 
	Residence Address: ____________________________________________________
	  
	  

		 Residence Telephone: 

  
 	 3. 
	Social Security Number:_________________________________________________
	  
	  

	  
	 Date of Birth:

	  
	  

	  
	 Citizenship: 

	  
	  

	 4. 
	 Present Employer: 

	  
	  

	  
	 Business Address: __________________________________________________________

	  
	  

	  
	 Business Telephone: ________________________________________________________

	  
	  

	  
	 Title/Position: _____________________________________________________________

	  
	  

	  
	 Length of Time: ___________________________________________________________

  
 Page 20 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

     
 	 5. 
	 I prefer to have communications sent to:
	  
	  

	  
	 Home Address or _________Business Address

	  
	  

	 6. 
	 Investment Experience

	  
	  

	  
	 I have made investments, or been involved in activities, of the type indicated below (recognizing that the types of investments listed are not mutually exclusive and certain investments may fall into two or more of the categories listed):
 CHECK ALL THAT APPLY

    
 	  
	  
	 (a) 
	Ownership of stocks, bonds, and other securities
	  
	  
	  
	  

	  
	  
	 (b) 
	Investment in partnerships, joint ventures and other syndicates
	  
	  
	  
	  

	  
	  
	 (c) 
	Other direct or partnership investments (such as real estate, oil and gas, equipment leasing, research and development, agriculture or commodities syndications)

      
 	  
	 Do you make your own ultimate decisions on your investments?

	  
	                          YES ☐                          NO ☐

       
 	 7. 
	Method of Investment Evaluation
	  
	  

		 Each subscriber must have sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of an investment in the Company or must retain the services of a Purchaser Representative(s) (who may be an attorney, accountant or other financial advisor but not a person employed by or associated with the Company or its affiliates) for the purpose of this particular transaction.

	  
	  

		This item is presented in alternative form. Please cheek the appropriate alternative.
	  
	  

		 Alternative One: No Advisor.

	  
	  

		 I have such knowledge and experience in financial and business matters that I am capable of evaluating the merits and risks of an investment in the Company and of making an informed investment decision, and will not require a Purchaser Representative.

	  
	  

		 Alternative Two: Purchaser Representative.

  
 Page 21 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

     
 		 I have relied upon the advice of the following Purchaser Representative (who is not affiliated with the Company or its affiliates) in evaluating the merits and risks of an investment in the Company. 

	  
	  

		 Name: _______________________________________________

		 (name of purchaser representative)

	  
	  

		 Address: ________________________________________________

	  
	  

		 Relationship: _____________________________________________

  
 The above-named Purchaser Representative and I together have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of an investment in the Company and of making an informed investment decision.
   
 PLEASE COMPLETE 8 OR 9, BELOW
  
 	 8. 
	Accredited Individual Investor 

  
 As an individual, I ________________________________________ (PRINT NAME) represent that I (please check all that are applicable):
  
 	 ☐
	have a net worth (either individually or jointly with spouse) in excess of $1,000,000 in United States Dollars (“USD”) (not including my principal residence); or 
	  
	  

	 ☐
	am an individual who had an individual income (NOT including joint income with spouse) in excess of USD $200,000 in each of the two most recent tax years and reasonably expects individual income in excess of $200,000 during the current tax year; or 
	  
	  

	 ☐
	am an individual who had an income (including joint income with spouse) in excess of USD $300,000 in each of the two most recent tax years and reasonably expects individual income in excess of USD $300,000 during the current tax year. 
	  
	  

	  
	 “Income” for this purpose is computed by adding the following items to adjusted gross income for federal income tax purposes: (a) the amount of any tax-exempt interest income received; (b) the amount of losses claimed as a limited partner in a limited partnership; (c) any deduction claimed for depletion; (d) deductions for alimony paid; (e) deductible amounts contributed to an IRA or Keogh retirement plan; and (f) any amount by which income from long-term capital gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section 1202 of the Code.

    
 I, the undersigned, represent that I do not have any state or federal judicial judgments adverse to me nor are there any state or federal tax liens against me, nor is there any pending or threatened litigation adverse to me. I, the undersigned, undertake to notify the Company immediately of any material change in any of such information occurring prior to the closing of the Offering or, if relevant, any time during the existence of the Company.
  
 	 Date: 
	  
	  
	 Signature: 
	  

    
 Page 22 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

          
 	 9. 
	Non-U.S. Person Investor

    
 As an individual, I ________________________________________ (PRINT NAME) represent that I reside outside of the United States and am not a “U.S. person” as such term is defined under Regulation S as promulgated by the SEC under authority of the 1933 Act. I was not solicited for an investment in the Offering by the Company or any person or entity acting on its behalf while I was located within the United States and has not entered into the Subscription Agreement inside the United States. To enable the Company to avoid withholding interest paid, I certify under penalty of perjury that I am neither a citizen nor a resident of the United States and that its address set forth above is correct. At the time the buy order for the Securities was originated, Subscriber was outside the United States. Subscriber is purchasing the Securities for his or her own account and not on behalf of any U.S. person, and the sale has not been pre-arranged with a purchaser in the United States. I further agree to comply with all of the requirements of Regulation S of the 1933 Act. 
  
 I, the undersigned, represent that I do not have any state or federal judicial judgments adverse to me nor are there any state or federal tax liens against me, nor is there any pending or threatened litigation adverse to me. I, the undersigned, undertake to notify the Company or the Company immediately of any material change in any of such information occurring prior to the closing of the Offering or, if relevant, any time during the existence of the Company.
  
 	 Date:
	  
	  
	 Signature:
	  

     
 [If individual purchasers are co-tenants, tenants-in-common or joint owners (including joint owners with such purchaser’s spouse) all co-tenants, tenants-in-common and/or joint owners shall complete a copy of Part I above] 
   
 Page 23 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

      
 PART II-INVESTORS WHO ARE NOT INDIVIDUALS 
    
 	 1. 
	General Information
	  
	  

	  
	 Entity Name (“Entity”): ___________________________________________________________

	  
	  

	  
	 Address of Principal Office: _______________________________________________________

	  
	  

	  
	 Types of Organization: ___________________________________________________________

	  
	  

	  
	 Date and Place of Organization: ______________________________________________________

	  
	  

	  
	 (Please attach a copy of your organizational documents in effect, including any amendments).

	  
	  

	 2. 
	 Business

	  
	  

	  
	 A brief description of the business conducted by the entity is as follows:

	  
	  

	  
	 Each person involved in making the decision on behalf of the entity, to subscribe to purchase Securities is listed below [NOTE AT LEAST ONE NAME MUST BE LISTED]:

  
 	  
	 Name 
	  
	  
	 Title 
	  

	  
	  
	  
	  
	  
	  

	  
	 Name
	  
	  
	 Title
	  

	  
	  
	  
	  
	  
	  

	  
	 Name
	  
	  
	 Title
	  

  
 		 [Please list any additional names on a separate page].

	  
	  

		 Each person named above must complete Part I of this questionnaire.

  
 PLEASE COMPLETE 3 OR 4, BELOW AND PLEASE ALSO COMPLETE SECTION 5
    
 Page 24 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

     
 	 3. 
	Accredited Investor Status of Entity
	  
	  

	  
	 Please cheek the appropriate description which applies to you.

     
 	  
	  
	 (a) 
	A bank, as defined in Section 3 (a)(2) of the Securities Act of 1933, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act of 1933, whether you are acting in an individual or a fiduciary capacity.
	  
	  
	  
	  

	  
	  
	 (b) 
	An insurance company, as defined in Section 2(13) of the Securities Act of 1933.
	  
	  
	  
	  

	  
	  
	 (c) 
	An investment company registered under the Investment Company Act of 1940.
	  
	  
	  
	  

	  
	  
	 (d) 
	A business development company, as defined in Section (a)(48) of the Investment Company Act of 1940.
	  
	  
	  
	  

	  
	  
	 (e) 
	A small business investment company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.
	  
	  
	  
	  

	  
	  
	 (f) 
	An employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974 and the investment is made by you as a plan fiduciary, as defined in Section 3(21) of such Act, and you are a bank, insurance company or a registered investment advisor, or you have total assets in excess of $5 million.
	  
	  
	  
	  

	  
	  
	 (g) 
	A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.
	  
	  
	  
	  

	  
	  
	 (h) 
	An organization described in Section 501 (c)(3) of the Internal Revenue Code, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring Securities, with total assets in excess of $5 million.
	  
	  
	  
	  

	  
	  
	 (i) 
	An entity (other than a trust, which must meet the requirements set forth in Section (j), below) in which all of the equity owners are accredited investors and meet at least one of the criteria listed in Part I, Section 8 of this Questionnaire.
	  
	  
	  
	  

	  
	  
	 (j) 
	A trust with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring Securities, whose purchase is directed by a person with such knowledge and experience in financial and business matters that (s)he is capable of evaluating the merits and risks of the prospective investment.

  
 Page 25 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

     
 	  
	 If you checked (i), please complete the following part of this question:

  
 	  
	 (1) 
	List all equity owners: __________________________________
	  
	  
	  

	  
	 (2) 
	What is the type of entity? _______________________________
	  
	  
	  

	  
	 (3) 
	Attach a copy of your resolutions or other evidence of the entity’s authority to make this investment.
	  
	  
	  

	  
	 (4) 
	 Represent that each equity owner qualifies individually to Part I, Section 9 of this Questionnaire by printing each equity owners name below (you may include an additional sheet if necessary):

	  
	  
	  

	  
	  
	 ___________________________________________________________________________

	  
	  
	  

	  
	  
	 ___________________________________________________________________________

	  
	  
	  

	  
	  
	 ___________________________________________________________________________

	  
	  
	  

	  
	 (5) 
	 Please confirm that the entity was not formed solely for the purpose of subscribing for Securities in the Offering by initialing below:

   
 	 4. 
	Non “U.S. Person Status”

  
 Please initial next to the below paragraph certifying the accuracy of such representations:
  
 The Entity is organized and has a principal place of business outside of the United States and is not a “U.S. person” as such term is defined under Regulation S as promulgated by the SEC under authority of the 1933 Act. The Entity was not solicited for an investment in the Offering by the Company or any person or entity acting on its behalf within the United States and has not entered into the Subscription Agreement inside the United States. To enable the Company to avoid withholding interest paid, the Entity certifies under penalty of perjury that it is neither a citizen nor a resident of the United States and that its address set forth above is correct. At the time the buy order for the Securities was originated, Subscriber was outside the United States. Subscriber is purchasing the Securities for its own account and not on behalf of any U.S. person, and the sale has not been pre-arranged with a purchaser in the United States. The Entity further agrees to comply with Regulation S of the 1933 Act.
  
 Page 26 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.
 	 
	
	

	 

     
 	 5. 
	Representations
	  
	  

		 The undersigned represents on behalf of the entity that:

	  
	  

	  
	 (a) The entity has, and its officers, employees, directors or equity owners have, sufficient knowledge and experience in similar programs or investments to evaluate the merits and risks of an investment in the Company (or the entity has retained an attorney, accountant, financial advisor or consultant as a Purchaser Representative); that because of the background and employment experience of the entity’s equity owners, its officers, directors or employees, it has received and has had access to material and relevant information enabling it to make an informed investment decision, and that all data it has requested has been furnished to it.

	  
	  

	  
	 If applicable, the name, employer, address and telephone number of the entity’s Purchaser Representative follows:

	  
	  

	  
	 (b) The information contained herein is complete and accurate and may be relied upon by you.

    
 Attached is the requested information (e.g., articles of incorporation, bylaws and resolutions) for your review.
  
 The undersigned represents that the information provided above is true and correct and acknowledges such investor’s awareness that the Company, and other investors are relying upon the accuracy of such information to ensure that the sale of any securities by the Company to such investor is in compliance with applicable federal and state securities laws. The undersigned represents that neither the entity it represents nor, its officers, directors or shareholders have any state or federal judicial judgments adverse to them nor are there any state or federal tax liens against them, nor is there any pending or threatened litigation adverse to them. The undersigned undertakes to notify the Company immediately of any material change in any of such information occurring prior to the closing of the Offering, or, if relevant, any time during the existence of the Company.
    
 Entity
    
 	 Date: ________________________________________________

	  

	 Name of Entity Typed or Printed: _____________________________________

	  

	 By: ____________________________________________________

	  

	 Name: __________________________________________________

	  

	 Title: ___________________________________________________

    
 PLEASE ALSO CONFIRM THAT EACH PERSON NAMED IN PART II, SECTION 2, ABOVE HAS COMPLETED PART I OF THIS QUESTIONNAIRE.
    
 Page 27 of 27 
 Subscription Agreement 
 Golden Matrix Group, Inc.

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