Document:

Exhibit 10.2

 

ASSIGNMENT
AND ASSUMPTION AGREEMENT

EMPLOYMENT
AGREEMENT

 

This
ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Agreement”) is dated effective as of April 24, 2020 by and among
Ourgame International Holdings Limited, a Cayman Islands corporation (“Ourgame”), Allied Esports Entertainment,
Inc. (formerly known as Black Ridge Acquisition Corp.), a Delaware corporation (“AESE”), Trisara Ventures,
LLC (“Trisara Ventures”), and Adam J. Pliska (“Employee”). Ourgame, AESE, Trisara Ventures
and Employee are collectively referred to as the “Parties.”

 

A.
Trisara Ventures and Employee provide services for the benefit of WPT Enterprises, Inc. (“WPT”), a
wholly-owned subsidiary of Ourgame, and its affiliates, pursuant to the Executive Engagement Agreement dated as of January
24, 2018, by and among Ourgame, Trisara Ventures and Employee (as amended by that certain Amendment 1 dated June 2018, the
“Employment Agreement”);

 

B.
AESE consummated the merger transaction (the “Merger”) on August 9, 2019 (the “Effective
Date”), as contemplated in that certain Agreement and Plan of Reorganization dated as of December 19, 2018, as
amended on August 5, 2019, by and among AESE, Black Ridge Merger Sub Corp., Allied Esports Media Inc. (f/k/a Allied Esports
Entertainment, Inc.), Noble Link Global Limited, Ourgame, and Primo Vital Ltd.;

 

C. In
connection with the Merger, the Parties wish to enter into this Agreement to, among other things, except as set forth below,
assign the right and obligations of Ourgame under the Employment Agreement from Ourgame to AESE, and AESE’s assumption
of the same, as of the Effective Date;

 

NOW,
THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

 

AGREEMENT

 

1. Assignment
and Assumption. Effective as of the Merger, (a) Ourgame hereby assigns to AESE all of Ourgame’s rights, title and
interest in, to and under the Employment Agreement, and AESE hereby accepts the same and assumes all obligations of Ourgame
under the Employment Agreement; and (b) all references to the “Company” contained in the Employment Agreement
shall be understood to be references to AESE. Trisara and Employee hereby consent to the foregoing assignment and assumption
of the Employment Agreement.

 

2. Amendment
to Employment Agreements. AESE, Trisara and Employee agree that the following terms of the Employment Agreement are
amended as follows:

 

		a.	Trisara
                                         is no longer a party to the Employment Agreement. All fees paid under the Employment
                                         Agreement are paid to Employee, and not Trisara, and any obligations of Trisara set forth
                                         in the Employment Agreement will be satisfied by Employee.

 

		b.	No
                                         compensation shall be paid for Employee’s service as a director of AESE or its
                                         affiliates other than compensation established and approved by the Board of Directors
                                         of AESE. 

 

		c.	Section
                                         3 of the Employment Agreement, providing that Employee is entitled to $315,000 in annual
                                         employee compensation (currently 334,326.72) and $85,000 in annual consultancy and board
                                         compensation is amended to provide that the $85,00 payment shall be for employment services
                                         only and not for any consulting or board services, and such $85,000 payment shall be
                                         paid in two equal installments on or about June 30 and December 31 of each calendar year.
                                         Effective as of May 1, 2020, Employee’s compensation shall be reduced by 10% for
                                         a six-month period.

 

     

     

    

 

		d.	Employee’s
                                         bonus eligibility for services in the calendar year 2020 shall be upon those terms and
                                         conditions approved by the Board, which shall control over Section 3, bullet 2 of the
                                         Employment Agreement.

 

		e.	Section
                                         5(d), providing that Trisara’s compensation will increase from $85,000 per year
                                         to $150,000 per year for consulting services upon the Termination of Employee or sale
                                         of WPT, is deleted.

 

3. Satisfied
Obligations. Notwithstanding Section 1, the Parties acknowledge and agree that the following obligations set forth in the
Employment Agreement are no longer part of the Employment Agreement, and have been satisfied or are superseded by subsequent
agreements as follows:

 

		a.	The
                                         Company’s obligations with respect to any spin off set forth in Section 3, bullet
                                         4 have been satisfied;

 

		b.	Trisara’s
                                         obligation to perform consulting and board related duties set forth in Section 1, bullet
                                         6 have been satisfied;

 

		c.	The
                                         Company’s payment obligations upon the sale or disposition of the Company set forth
                                         in Section 3, bullet 5 are subject to a new agreement between AESE and Employee;

 

		d.	The
                                         Company’s payment obligation for up to $1,500,000 based upon the profitability
                                         of the Company has been satisfied

 

4. Governing
Law; Venue. This Agreement shall be governed by the laws of the State of California without regard to its
conflicts-of-law principles. The Parties expressly acknowledge and agree that any judicial action to enforce any right of any
Party under this Agreement may be brought and maintained in the State of California, and the Parties consent to the
jurisdiction of the courts of the State of California, County of Orange, and the federal courts located in the Central
District of the State of California. Accordingly, the Parties hereby submit to the process, jurisdiction and venue of any
such court. Each Party hereby waives, and agrees not to assert, any claim that it is not personally subject to the
jurisdiction of the foregoing courts in the State of California or that any action or other proceeding brought in compliance
with this Section is brought in an inconvenient forum.

 

5. Counterparts.
This Agreement may be executed in counterparts, all of which taken together shall constitute one agreement binding on the
Parties. Facsimile and electronically transmitted signatures shall be valid and binding to the same extent as original
signatures. In making proof of this Agreement, it will be necessary to produce only one copy signed by the Party to be
charged.

 

[Signature
page follows]

 

    2

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Assignment and Assumption Agreement to be executed as of the date first written
above.

 

	 	OURGAME INTERNATIONAL HOLDINGS LIMITED
	 	 
	 	By:	/s/ Eric Yang
	 	Name:	Eric Yang
	 	Its:	CEO            
	 	 
	 	ALLIED ESPORTS ENTERTAINMENT, INC.
	 	 
	 	By:	/s/ Frank Ng
	 	Name:	Frank Ng
	 	Its:	CEO

 

Employee
hereby consents to the terms and conditions of the Agreement.

 

	 	/s/ Adam Pliska
	 	Adam J. Pliska

 

Trisara
Ventures, LLC herby consents to the terms and conditions of the Agreement.

 

	 	TRISARA VENTURES, LLC
	 	 
	 	By:	/s/ Adam Pliska
	 	Name:	Adam Pliska
	 	Its:	CEO

 

[Signature
page to Assignment and Assumption Agreement]

 

 

3Exhibit 10.3

 

ALLIED
ESPORTS ENTERTAINMENT, INC.

 

April
24, 2020

 

VIA
EMAIL

 

Frank
Ng

Frank
Ng Frank@alliedesports.com

 

		Re:	Employment
                                         Agreement

 

Reference
is made to that certain Employment Agreement dated effective September 20, 2019 between Allied Esports Entertainment, Inc., a
Delaware corporation (the “Company”) and you (the “Employment Agreement”). By executing below,
you agree that your current annual base salary of $300,000, will be reduced to an annual base salary of $60,000, effective May
1, 2020, for the following six-month period.

 

	 	Sincerely,
	 	 
	 	/s/ Adam Pliska
	 	Adam Pliska, President

 

	ACKNOWLEDGED:	 
	 	 
	/s/ Frank Ng	 
	Frank NgExhibit
10.1

 

GENERAL
MUTUAL RELEASE

 

This
General Mutual Release is effective as of April 24, 2020 (the “Effective Date”), “), by and among Intersect
Beverage, LLC, a California limited liability company, and its principals Patrick J. Kilkenny and Stephanie Kilkenny, and Robert
Grammen (collectively, “Intersect”), and Eastside Distilling, Inc., a Nevada corporation, and Paul Shoen, Jack
Peterson, and Lawrence Firestone (collectively, “Eastside”) (each of which may be referred to herein as a “Party”
or, collectively, as the “Parties”).

 

Recitals

 

A.
Certain of the Parties entered into an Asset Purchase Agreement, dated as of September 12, 2019 (the “Asset Purchase
Agreement”), under which Eastside Distilling, Inc. acquired substantially all of lntersect Beverage, LLC’s assets
(the “Transaction”).

 

B.
Disagreements have arisen between the Parties regarding, among other things, the Transaction, actions by the management and the
Board of Directors of Eastside, and Intersect’s activities following (the “Allegations”).

 

C.
The Parties agree to mutually release all claims that they may have against certain of the other Parties, on those terms and conditions
set forth below.

 

For
good and valuable consideration, the sufficiency of which the Parties hereby acknowledge, the Parties agree to the following.

 

Agreement

 

1.
Upon the occurrence of the actions set forth in paragraph 3(a) herein, and notwithstanding anything to the contrary in the Asset
Purchase Agreement, Intersect, on behalf of itself and themselves and their respective officers, directors, partners, members,
equity holders , agents, heirs, legal representatives, successors, and assigns, as well as Patrick K. Kilkenny, Stephanie J. Kilkenny,
and Robert Grammen (the “Intersect Releasors”) hereby irrevocably, unconditionally, and completely release
and hold harmless Eastside and Eastside’s officers, directors, employees, subsidiaries, affiliates, agents, attorneys, representatives,
advisors and successors and assigns (collectively, the “Eastside Released Parties”), from, and hereby irrevocably,
unconditionally and completely waives, any and all demands, rights, disputes, liabilities, obligations, liens, promises, agreements,
claims, damages, costs, losses, debts, expenses, and causes of action of any nature whatsoever against the Eastside Released Parties,
including but not limited to all claims in connection with the Allegations. The Intersect Releasors expressly waive all rights
under Section 1542 of the California Civil Code, which states, “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR
OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN
BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” The Intersect Releasors
acknowledge that they may later discover claims or facts in addition to or different from those which the Intersect Releasors
now know or believe to exist with regards to the subject matter of this General Mutual Release, and which, if known or suspected
at the time of executing this General Mutual Release, may have materially affected its terms. Nevertheless, the Intersect Releasors
waive any and all claims that might arise as a result of such different or additional claims or facts. To be clear, and as set
forth in paragraph 4 herein, the release set forth in this paragraph 1 does not nullify or supersede any obligation, term, or
provision set forth in the Asset Purchase Agreement, as the Asset Purchase Agreement stands on its own and survives.

 

    	Page 1 – GENERAL RELEASE
	 

     

    

 

2.
Upon the occurrence of the actions set forth in paragraph 3(a) herein, and notwithstanding anything to the contrary in the Asset
Purchase Agreement, Eastside, on behalf of itself and themselves and their respective officers, directors, partners, members,
equity holders, agents, heirs, legal representatives, successors, and assigns, as well as Paul Shoen, Lawrence Firestone, and
Jack Peterson (the “Eastside Releasors”) hereby irrevocably, unconditionally, and completely release and hold
harmless Intersect and Intersect’s officers, directors, employees, subsidiaries, affiliates, agents, attorneys, representatives,
advisers and successors and assigns (collectively, the “Intersect Released Parties”), from, and hereby irrevocably,
unconditionally and completely waives, any and all demands, rights, disputes, liabilities, obligations, liens, promises, agreements,
claims, damages, costs, losses, debts, expenses, and causes of action of any nature whatsoever against the Intersect Released
Parties, including but not limited to all claims in connection with the Allegations. The Eastside Releasors expressly waive all
rights under Section 1542 of the California Civil Code, which states, “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT
THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND
THAT, IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” The
Eastside Releasors acknowledge that they may later discover claims or facts in addition to or different from those which the Eastside
Releasors now know or believe to exist with regards to the subject matter of this General Mutual Release, and which, if known
or suspected at the time of executing this General Mutual Release, may have materially affected its terms. Nevertheless, the Eastside
Releasors waive any and all claims that might arise as a result of such different or additional claims or facts. To be clear,
and as set forth in paragraph 4 herein, the release set forth in this paragraph 2 does not nullify or supersede any obligation,
term, or provision set forth in the Asset Purchase Agreement, as the Asset Purchase Agreement stands on its own and survives.

 

3.
(a) No later than 5:00 p.m. Pacific Time on the Effective Date, Eastside shall take all necessary steps to cause the board of
directors of Eastside (the “Board”) to be comprised solely of the following persons: Paul Block, Chair of the
Board; Geoffrey Gwin; Stephanie Kilkenny; Jack Peterson and Lawrence Firestone (the “Current Directors”), each
to serve until the Company’s 2020 Annual Meeting of Stockholders or until their respective successor is duly elected and
qualified or until their earlier death, resignation or removal, whichever first occurs.

 

 (b)
Eastside agrees to nominate the Current Directors for election at the Company’s 2020 Annual Meeting of Stockholders, and
to cause such nominees to be submitted to the shareholders for election.

 

4.
Notwithstanding the foregoing, the mutual releases, hold harmless and waivers in the foregoing paragraphs 1 and 2 do not apply
to, and are not a release, hold harmless or waiver of (a) any breach or failure to perform any duty or obligation under the Asset
Purchase Agreement (including the payment of the Aggregate Consideration) after the Effective Date or (b) any rights to indemnification
or insurance under any agreement, charter provisions, bylaw, law or policy in connection with any of the Intersect Releasors’
or Eastside Releasors’ services, a member of the Board of Directors of Eastside or any committee of the Board of Directors.

 

5.
The Parties acknowledge executing this General Mutual Release freely and voluntarily, and for sufficient consideration. The Parties
further acknowledge fully understanding the meaning and intent of the General Mutual Release, and acknowledge being advised in
writing, before signing this General Mutual Release, that they ought to consult an attorney regarding it. This General Mutual
Release will be governed by the law of the State of Oregon, to the extent that the law of any State is applicable in construing
it.

 

6.
The Parties represent and warrant that they have the power and authority to enter into this General Mutual Release for themselves
and the Intersect Releasors and the Eastside Releasors, respectively, and that this General Mutual Release is a binding obligation
of lntersect and the Intersect Releasors and Eastside and the Eastside Releasors.

 

7.
This General Mutual Release may be executed in any number of counterparts, each of which shall be deemed to be an original instrument
and all of which together shall constitute a single agreement.

 

[Signatures
appear on following pages.]

 

 

    	Page 2 – GENERAL RELEASE
	 

     

    

 

The
Parties have executed this General Mutual Release effective as of the Effective Date.

 

	INTERSECT	 
	 	 	 
	Intersect Beverage, LLC	 
	 	   	 
	By:
    	/s/
    Patrick J. Kilkenny	 
	Name:
    	Patrick
    J. Kilkenny	 
	Its:
    	Manager	 

 

	Patrick
    J. Kilkenny	 
	 	 
	/s/
    Patrick J. Kilkenny	 
	Patrick
    J. Kilkenny	 
	 	 
	Stephanie
    Kilkenny	 
	 	 
	/s/
    Stephanie Kilkenny	 
	Stephanie
    Kilkenny	 
	 	 
	Robert
    Grammen	 
	 	 
	/s/
    Robert Grammen	 
	Robert
    Grammen	 

 

	EASTSIDE	 
	 	 	 
	Eastside Distilling, Inc.	 
	 	    	 
	By:
    	/s/
    Lawrence Firestone	 
	Name:
    	Lawrence
    Firestone	 
	Its:
    	Chief
    Executive Officer	 

 

	Paul
    Shoen	 
	 	 
	/s/
    Paul Shoen	 
	Paul
    Shoen	 
	 	 
	Jack
    Peterson	 
	 	 
	/s/
    Jack Peterson	 
	Jack
    Peterson	 
	 	 
	Lawrence
    Firestone	 
	 	 
	/s/
    Lawrence Firestone	 
	Lawrence
    Firestone	 

 

    	Signature Page – GENERAL RELEASE

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