Document:

Exhibit
10.5

 

LIMITED
LIABILITY COMPANY AGREEMENT

OF

MARKETVIEW
VR, LLC

 

This
Limited Liability Company Agreement (“Agreement”) of MarketView VR, LLC (the “Company”), effective
as of August 8, 2017 (the “Effective Date”), is entered into by The Glimpse Group, Inc., as the sole member of the
Company (the “Member”).

 

WHEREAS,
the Company was formed as a limited liability company on August 4, 2017 pursuant to Chapter 86 of the Nevada Revised Statutes, as amended
from time to time (the “Act”), by the filing of Articles of Organization of the Company with the office of the Secretary
of State of Nevada; and

 

WHEREAS,
the Member agrees that the membership in and management of the Company shall be governed by the terms set forth herein and the Act and
to the extent this Agreement is inconsistent in any respect with the Act, this Agreement shall control.

 

NOW,
THEREFORE, the Member agrees as follows:

 

		1.	Name.
                                            The name of the Company is MarketView VR, LLC.

 

2.           Purpose.
The purpose of the Company is to engage in any lawful act or activity for which limited liability companies may be formed under the Act
and to engage in any and all activities necessary or incidental thereto, including to provide virtual and augmented reality experiences
and solutions for the financial services industry.

 

		3.	Principal
                                            Office; Registered Agent.

 

(a)       Principal
Office. The location of the principal office of the Company shall be 800 Third Avenue, Suite 1701, New York, New York 10022, or such
other location as the Member may from time to time designate.

 

(b)       Registered
Agent. The agent for service of process in Nevada as of the Effective Date of this Agreement is Corporate Creations Network Inc.

 

		4.	Members.

 

(a)       Initial
Member. The Member owns 100% of the membership interests in the Company. The name and the business, residence or mailing address
of the Member are as follows:

 

	Name	 	Address
	The
    Glimpse Group, Inc.	 	800
    Third Avenue, Suite 1701, New York, NY 10022

 

    	 

     

    

 

(b)       Additional
Members. One or more additional members may be admitted to the Company with the consent of the Member. Prior to the admission of
any such additional members to the Company, the Member shall amend this Agreement to make such changes as the Member shall determine
to reflect the fact that the Company shall have such additional members. Each additional member shall execute and deliver a supplement
or counterpart to this Agreement, as necessary.

 

(c)       Membership
Interests; Certificates. The Company will not issue any certificates to evidence ownership of the membership interests.

 

		5.	Management.

 

(a)       Authority;
Powers and Duties of the Member. The Member shall have exclusive and complete authority and discretion to manage the operations and
affairs of the Company and to make all decisions regarding the business of the Company. Any action taken by the Member shall constitute
the act of and serve to bind the Company. Persons dealing with the Company are entitled to rely conclusively on the power and authority
of the Member as set forth in this Agreement. The Member shall have all rights and powers of a manager under the Act, and shall have
such authority, rights and powers in the management of the Company to do any and all other acts and things necessary, proper, convenient
or advisable to effectuate the purposes of this Agreement.

 

(b)       Election
of Officers; Delegation of Authority. The Member may, from time to time, designate one or more officers with such titles as may be
designated by the Member to act in the name of the Company with such authority as may be delegated to such officers by the Member (each
such designated person, an “Officer”). Any such Officer shall act pursuant to such delegated authority until such
Officer is removed by the Member. Any action taken by an Officer designated by the Member pursuant to authority delegated to such Officer
shall constitute the act of and serve to bind the Company. Persons dealing with the Company are entitled to rely conclusively on the
power and authority of any officer set forth in this Agreement and any instrument designating such officer and the authority delegated
to him or her.

 

		6.	Liability
                                            of Member; Indemnification.

 

(a)       Limited
Liability of Member. Except as otherwise required by any non- waivable provision of the Act or other applicable law, the debts, obligations,
and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities
of the Company, and the Member shall not be obligated for any such debt, obligation or liability of the Company solely by reason of being
the Member or participating in the management of the Company.

 

(b)       Indemnification.
To the fullest extent permitted under the Act, the Member and officers (irrespective of the capacity in which it acts) shall be entitled
to indemnification and advancement of expenses from the Company for and against any loss, damage, claim or expense (including attorneys’
fees) whatsoever incurred by the Member or officers relating to or arising out of any act or omission or alleged acts or omissions (whether
or not constituting negligence or gross negligence) performed or omitted by the Member or the officers on behalf of the Company; provided,
however, that any
indemnity under this Section 6(b) shall be provided out of and to the extent of Company assets only, and neither the Member, officers
nor any other person shall have any personal liability on account thereof.

 

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7.       Term.
The Company commenced on the date the Articles of Organization were properly filed with the Secretary of State of the State of Nevada
and shall exist in perpetuity unless the Company is dissolved and terminated in accordance with Section 13.

 

8.       Other
Activities. The Member, its agents, representatives and affiliates may engage or invest in, and devote their time to, any other business
venture or activity of any nature and description (independently or with others), whether or not such other activity may be deemed or
construed to be in competition with the Company. The Company shall not have any right by virtue of this Agreement or the relationship
created hereby in or to such other venture or activity (or to the income or proceeds derived therefrom), and the pursuit thereof, even
if competitive with the business of the Company, shall not be deemed wrongful or improper.

 

9.       Standards
of Conduct. Whenever the Member is required or permitted to make a decision, take or approve an action, or omit to do any of the
foregoing, then the Member shall be entitled to consider only such interests and factors, including its own, as it desires, and shall
have no duty or obligation to consider any other interests or factors whatsoever. To the extent that the Member has, at law or in equity,
duties (including, without limitation, fiduciary duties) to the Company or other person bound by the terms of this Agreement, the Member
acting in accordance with the Agreement shall not be liable to the Company or any such other person for its good faith reliance on the
provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict the duties of the Member otherwise existing
at law or in equity, replace such other duties to the greatest extent permitted under applicable law.

 

10.       Initial
Capital Contributions. The Member hereby agrees to contribute to the Company such cash, property or services as determined by the
Member.

 

		11.	Tax
                                            Status; Income and Deductions.

 

(a)       Tax
Status. As long as the Company has only one member, it is the intention of the Company and the Member that the Company be treated
as a disregarded entity for federal and all relevant state tax purposes and neither the Company nor the Member shall take any action
or make any election which is inconsistent with such tax treatment. All provisions of this Agreement are to be construed so as to preserve
the Company’s tax status as a disregarded entity.

 

(b)       Income
and Deductions. All items of income, gain, loss, deduction and credit of the Company (including, without limitation, items not subject
to federal or state income tax) shall be treated for federal and all relevant state income tax purposes as items of income, gain, loss,
deduction and credit of the Member.

 

12.       Distributions.
Distributions shall be made to the Member at the times and in the amounts determined by the Member.

 

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		13.	Dissolution;
                                            Liquidation.

 

(a)       The
Company shall dissolve, and its affairs shall be wound up upon the first to occur of the following: (i) the written consent of the
Member or (ii) any other event or circumstance giving rise to the dissolution of the Company under Chapter 86.491 of the Act,
unless the Company’s existence is continued pursuant to the Act.

 

(b)       Upon
dissolution of the Company, the Company shall immediately commence to wind up its affairs and the Member shall promptly liquidate the
business of the Company. During the period of the winding up of the affairs of the Company, the rights and obligations of the Member
under this Agreement shall continue.

 

(c)       In
the event of dissolution, the Company shall conduct only such activities as are necessary to wind up its affairs (including the sale
of the assets of the Company in an orderly manner), and the assets of the Company shall be applied as follows: (i) first, to creditors,
to the extent otherwise permitted by law, in satisfaction of liabilities of the Company (whether by payment or the making of reasonable
provision for payment thereof); and (ii) thereafter, to the Member.

 

(d)       Upon
the completion of the winding up of the Company, the Member shall file Articles of Dissolution in accordance with the Act.

 

		14.	Miscellaneous.

 

(a)       Amendments.
Amendments to this Agreement may be made only with the consent of the Member.

 

(b)       Governing
Law. This Agreement shall be governed by the laws of the State of Nevada.

 

(c)       Severability.
In the event that any provision of this Agreement shall be declared to be invalid, illegal or unenforceable, such provision shall survive
to the extent it is not so declared, and the validity, legality and enforceability of the other provisions hereof shall not in any way
be affected or impaired thereby, unless such action would substantially impair the benefits to any party of the remaining provisions
of this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

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

 

	 	THE
    GLIMPSE GROUP, INC.
	 	 	 
	 	By:	 /s/ Lyron
    Bentovim 
	 	Name:	Lyron
    Bentovim
	 	Title:	President
    & CEO

 

    	5Exhibit
10.6

 

THE
GLIMPSE GROUP, INC

 

Market
View VR, LLC Economic Interests Agreement

 

Dated
as of March 30, 2017

 

This
Economic Interests Agreement (this “Agreement”) is made and entered into as of the date set forth above (the “Effective
Date”) by and between THE GLIMPSE GROUP, INC., a Nevada corporation (the “Company”), its subsidiary Market View VR,
LLC (the “Subsidiary”) and Andy Maggio (“Manager”), and together the Parties (“Parties”).

 

RECITALS

 

WHEREAS,
the Company is the owner of the Subsidiary, the Manager is an Employee of the Company and the General Manager of the Subsidiary;

 

WHEREAS
the Company desires to have the benefit of Manager’s skills and services, and the Manager desires to manage the Subsidiary on the
terms and conditions set forth herein;

 

WHEREAS
Andy Maggio is also an Employee of the Company, the General Manager of the Subsidiary (the “GM”) and has agreed to and signed
a separate Economic Interests Agreement with the same terms and conditions as set forth herein;

 

WHEREAS
the Manager’s relationship with the Company shall continue to be governed by the Manager’s Employment Agreement dated June
15, 2017 and any following amendments to it (“Employment Agreement”). Nothing herein shall constitute a change to the Employment
Agreement;

 

NOW,
THEREFORE, the Parties agree to as follows:

 

1)       Future
Transactions Involving Subsidiary. Subject to the Vesting provisions detailed below, Manager shall have the right to receive the
payments (“Payments”) as set forth below:

 

(i)       Sale
of All or Part of Ownership or Assets of Subsidiary. If there is a sale of all or part of (i) the ownership of Subsidiary (as a result
of newly issued equity of the Subsidiary or the sale of the equity of Subsidiary held by Company), or (ii) the assets of Subsidiary,
resulting in cash, equity or other direct proceeds to the Company, the Manager shall receive five percent (5%) of the net sale proceeds
(net of specific transaction fees including brokerage commissions, legal fees, and other customary transactional fees related to the
transaction) in kind. In other words, if the Company receives cash, stock, warrants, debt or combination of any or each, the Manager
will receive five percent (5%) of the same type of consideration received by the Company, net of the fees described above.

 

(ii)       Change
of Control. If the Company’s ownership interest in the Subsidiary is diluted below fifty percent (50%) of the outstanding equity
of the Subsidiary (“Change of Control”) as a result of one or a series of transactions resulting in investment proceeds into
the Subsidiary, the Manager shall receive five percent (5%) of the outstanding equity in the Subsidiary immediately after the dilutive
transaction(s) resulting in the Change of Control.

 

(iii)       Going
Public Transaction. If a transaction is completed resulting in the Subsidiary becoming a separate publicly traded entity (via
initial public offering, spin-off, or reverse merger), the Manager shall receive five percent (5%) of the outstanding equity in
the Subsidiary immediately prior to the transaction on a fully diluted basis; provided, however, that such five percent (5%) shall
be granted immediately before completion of a transaction for a qualified financing transaction defined as a firm commitment underwriting
of $10,000,000 or more.

 

    	 

     

    

 

(iv)       Dividend
Distribution. In the case that a potential future subsidiary of the Subsidiary is sold (cash and or/equity) and the proceeds are
distributed out of Subsidiary to the Company, then Manager shall receive five percent (5.0%) of the distributed proceeds.

 

(v)       Vesting.
The rights of Manager to receive the payments set forth in Section 1(d)(i), (ii), (iii) and (iv) above shall vest or be forfeited as
follows:

 

(i)       Manager
shall vest in 1.67% out of the total 5% payable pursuant to Section 1(d)(i), Section 1(d)(ii), Section 1(d)(iii) or Section 1(d)(iv),
whether paid in cash or shares of Common Stock, on the first anniversary of the Effective Date.

 

(ii)       Manager
shall vest in the remaining 3.33% out of the total 5% payable pursuant to Section 1(d)(i), Section 1(d)(ii), Section 1(d)(iii) or Section
1(d)(iv), ratably each month of the twenty four months following the first anniversary of the
Effective Date (i.e., 0.1389% per month out of the remaining 3.33% payable pursuant to Section 1(d)(i), Section 1(d)(ii), Section 1(d)(iii)
or Section 1(d)(iv), whether paid in cash or shares of Common Stock, such that Seller is fully vested in the payments pursuant to Section
1(d)(i), Section 1(d)(ii), Section 1(d)(iii) or Section 1(d)(iv), on the third anniversary from the Effective Date of this agreement.

 

 (iii) In the event that: A) Manager’s employment with Company is terminated (i) by Company for Cause, or by Manager without Good Reason (as defined in below), or B) Manager breaches any of the representations, warranties or covenants of the Employment Agreement, then, in any such case, Manager shall forfeit the right to receive any of the payments set forth in Section 1(d)(i), Section 1(d)(ii), Section 1(d)(iii) or Section 1(d)(iv), to the extent not vested as of the time of the date of termination of employment with Company or the time of the breach or any of the representations, warranties or covenants of Manager set herein, as applicable.

 

For
purposes of this Agreement, the term “Cause” shall mean: (i) an action or omission of the Employee which constitutes a willful
and material breach of, or failure or refusal (other than by reason of Employee’s disability) to perform Employee’s duties
under this Agreement which is not cured within fifteen (15) days after receipt by the Employee of written notice of same; (ii) fraud,
embezzlement, misappropriation of funds or breach of trust in connection with Employee’s services hereunder; (iii) conviction of
any crime which involves dishonesty or a breach of trust; or (iv) gross negligence in connection with the performance of the Employee’s
duties hereunder, which is not cured within fifteen (15) days after written receipt by the Employee of written notice of same. Any termination
for Cause shall be made in writing to the Employee, which notice shall set forth in detail all acts or omissions upon which the Company
is relying for such termination. The Employee shall have the right to address the Chief Executive Officer regarding the acts set forth
in the notice of termination.

 

    	 

     

    

 

For
purposes of this Agreement, “Good Reason” shall mean (i) the assignment to the Manager of any duties inconsistent in any
respect with the Manager’s skills, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad
faith and which is remedied by the Company promptly after receipt of notice thereof given by the Manager; (ii) any failure by the Company
to comply with any of the provisions of the Employment Agreement, other than an isolated, insubstantial and inadvertent failure not occurring
in bad faith and which is remedied by the Company promptly after receipt of written notice thereof given by the Manager.

 

(iv)       Notwithstanding
the above, in the case of: i) the sale of the Company or the Subsidiary, ii) termination of Manager not for Cause, iii) departure of
Manager for Good Reason or (iv) secession of the Company as an operating company, then all unvested Manager payments to the extent not
already forfeited, shall become fully vested and due.

 

vi)
Reallocation of Payments. Should the Manager’s or the CTO’s unvested Payments be forfeited for any reason and not
reallocated by the Company, at its sole discretion, then any remaining unvested Payments shall transfer to the remaining Party, subject
to: i) the remaining Party’s vesting schedule and ii) written approval of the Company of such transfer.

 

IN
WITNESS WHEREOF, the Company and Manager have caused this Agreement to be duly executed as of the Effective Date.

 

	 	COMPANY:
	 	 	 
	 	THE
    GLIMPSE GROUP, INC.
	 	 	 
	 	By:	 /s/ Lyron L. Bentovim  
	 	 	 
	 	Name:	Lyron
    L. Bentovim
	 	 	 
	 	Title:	President
    & CEO
	 	 	 
	 	Manager:
    Andy Maggio
	 	 	 
	 	By:	 /s/ Andy
    Maggio 
	 	 	 
	 	Name:	Andy
    Maggio

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