Document:

EX-10.19

 Exhibit 10.19 

GUARANTY AGREEMENT 

This Guaranty Agreement (as may be amended, restated, or otherwise modified from time to time, this “Guaranty
Agreement”), is executed and delivered by the undersigned Guarantor in favor of and FAUNUS GROUP INTERNATIONAL, INC., a Delaware corporation (“FGI”), effective as of June 30, 2015 as provided hereinbelow: 

Definitions: 

The following terms shall have the following meanings where used in this Guaranty Agreement: 

“Client” means Mad Catz Europe Limited, and its successors and assigns, including without limitation as
debtor or debtor-in-possession in any bankruptcy proceedings. 
 “Guaranteed Obligations” means all
indebtedness and obligations now or hereafter owing by Client to FGI, whether or not evidenced by any note, or other instrument or document, whether arising from or in connection with a loan, extension of credit, issuance of a letter of credit,
acceptance, guaranty, indemnification, or otherwise, whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, as principal or guarantor, and including all principal, interest, charges, costs, fees, expenses,
including costs, fees and expenses of attorneys employed or engaged by FGI in connection with any of the foregoing, filing fees, and any other sums chargeable to Client under this Guaranty Agreement or any of the other Finance Documents. Without
limiting the foregoing, “Guaranteed Obligations” includes all Secured Obligations and also includes any of the foregoing arising during any bankruptcy proceedings of Client and any interest or costs, fees expenses that, but for the
existence of any such bankruptcy proceedings, would arise or accrue under the Finance Documents. 

“Guarantor” means Mad Catz Interactive Asia Limited and its successors and assigns. 

“MFA” means the certain Master Facilities Agreement (England and Wales) between FGI and Client of even date
herewith, as such agreement has been and hereafter may be renewed, amended, restated, or otherwise modified from time to time. 
 Terms
defined in the MFA, wherever used herein, unless otherwise defined herein, shall have the same meanings in this Guaranty Agreement as are set forth in the MFA or the Composite Guarantee and Debenture of even date herewith from Client and certain of
its affiliates in favor of FGI, and each of such definitions is incorporated herein by reference. Guarantor expressly acknowledges that it has read and is familiar with all such incorporated definitions and agrees that they shall have the same
effect and enforceability in this Guaranty Agreement as though set forth herein at length. 
 Recitals: 

Concurrently herewith, Client and FGI have executed and entered into the MFA. This Guaranty Agreement is required by the MFA,
and Guarantor’s execution and delivery hereof is a condition (among other conditions) to FGI’s agreement to extend a receivables purchase and inventory facilities to Client on the terms and conditions set forth therein. Guarantor has
determined that (a) it will directly and indirectly benefit from the availability of extensions of credit to Client under the MFA and from the other transactions evidenced by and contemplated in the Finance Documents, (b) it will benefit,
directly and indirectly, from executing and delivering this Guaranty Agreement, (c) it is in Guarantor’s best interest, and within its organizational purpose, to execute and deliver and, if called upon to do so, to perform its obligations
under this Guaranty Agreement, and (d) execution and delivery of this Guaranty Agreement 

  

			
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and the other Finance Documents to which Guarantor is a party is necessary or convenient to the conduct, promotion, and attainment of the business of Guarantor. 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Guarantor
hereby agrees as follows: 
 1. Guaranty of Guaranteed Obligations.  As an inducement to FGI to extend
credit and other financial accommodations to Client under the MFA, Guarantor, for value received, does hereby unconditionally, irrevocably, and absolutely guarantee to FGI the prompt and full payment and performance of the Guaranteed Obligations
when due, whether at stated maturity, by acceleration or otherwise. This Guaranty Agreement is and shall be an absolute, unconditional, irrevocable, and continuing unlimited guaranty of payment, and not solely of collection. Notwithstanding anything
in this Agreement to the contrary, the amount of the Guaranteed Obligations shall be limited to a maximum aggregate amount equal to the largest amount that would not render this Guaranty subject to avoidance as a fraudulent transfer or conveyance
under any Applicable Laws, after giving effect to all other liabilities of Guarantor, contingent or otherwise, that are relevant under such laws, and after giving effect to the value, as assets (as determined under the applicable provisions of such
laws) of any rights of Guarantor to contribution, indemnity, and/or subrogation from Client or any other Person. 
 2.
Representations and Warranties.  Guarantor hereby represents and warrants to FGI as follows: Guarantor has operations that are dependent on the Client and the Client’s business and will receive a direct and indirect material
benefit from the transactions evidenced by and contemplated in the MFA and the other Finance Documents. This Guaranty Agreement is given by Guarantor in furtherance of the direct and indirect business interests, and is necessary to the conduct,
promotion, and attainment of the businesses of Client. The value of the consideration received and to be received by Guarantor is reasonably worth at least as much as the liability and obligation of Guarantor hereunder. Guarantor is currently
informed of the financial condition of Client and of all other circumstances which a diligent inquiry would reveal and which bear upon the risk of nonpayment of the Guaranteed Obligations. Guarantor has read and understands the terms and conditions
of the Finance Documents. Guarantor is familiar with, and has had an opportunity to review the books and records regarding, the financial condition of Client and is familiar with the value of any and all property intended to be security for the
payment of all or any part of the Guaranteed Obligations; provided, that Guarantor is not relying on such financial condition or the existence or value of any such security as an inducement to enter into this Guaranty Agreement. Guarantor has
adequate means to obtain, on a continuing basis, information concerning the financial condition of Client. Guarantor has not been induced to enter into this Guaranty Agreement on the basis of a contemplation, belief, understanding, or agreement that
any Person other than Client or Guarantor will be liable to pay the Guaranteed Obligations. FGI has not made any representation, warranty, or statement to Guarantor in order to induce Guarantor to execute this Guaranty Agreement. 

3. Covenants.  Guarantor shall (a) promptly notify FGI of any legal action against Guarantor or its
property that would be treated as a contingent liability of Guarantor under GAAP and is in an amount in excess of $500,000 or which could have or cause a Material Adverse Effect, (b) preserve and maintain its existence, good standing and
authority to transact business in the state of its organization, and also in all other jurisdictions where necessary for the proper conduct of its business except where the failure to qualify could not reasonably be expected to materially and
adversely affect Guarantor or its business, and maintain all of its properties, rights, privileges and franchises necessary or desirable in the normal conduct of its business, (c) keep and maintain adequate insurance by insurers reasonably
acceptable to FGI with respect to its business and properties, (d) file all tax reports and returns required to be filed by it in the manner and at the times required by applicable law or regulation (collectively, “Applicable
Law”), and shall pay all federal, state and local taxes and charges imposed upon Guarantor 

  

			
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when due, other than taxes, fees or charges the amount or validity of which are currently being contested by Guarantor in good faith by appropriate proceedings and with respect to which reserves
in accordance with GAAP have been provided on the books of Guarantor, (e) conduct its business in material compliance with Applicable Laws, and (f) furnish promptly to FGI upon request such information and statements as FGI shall request
from time to time regarding Guarantor’s business affairs, financial condition and results of its operations. Guarantor shall not (a) change its mailing address, chief executive office, principal place of business or place where such
records are maintained, or state of organization, or change the location of any of its Collateral without providing FGI at least 30 days prior, written notice thereof, (b) discontinue, or make any material change in, its business as currently
established, or enter any new or different line of business not related to Guarantor’s existing line of business, or (c) dissolve or liquidate or become a party to any merger or consolidation with any Person. 

4. Obligations Not Impaired.  Guarantor agrees that its obligations under this Guaranty Agreement shall not
be released, diminished, impaired, reduced, or affected by the occurrence of any one or more of the following events: (a) lack of organizational authority of Client; (b) any receivership, insolvency, bankruptcy, or other proceedings
affecting Client or their property; (c) partial or total release or discharge of Client or any other Person from the performance of any obligation contained in any instrument or agreement evidencing, governing, or securing all or any part of
the Guaranteed Obligations, whether occurring pursuant to any Applicable Law or otherwise; (d) any change in the time, manner, or place of payment of, or in any other term of, or any increase or decrease in the amount of, all the Guaranteed
Obligations, or any portion thereof, or any other amendment or waiver of any term of, or any consent to departure from any requirement of, any of the Finance Documents; (e) the taking or accepting of any collateral security for all or any part
of the Guaranteed Obligations, this Guaranty Agreement, or any other guaranty; (f) the taking or accepting of any other guaranty for all or any part of the Guaranteed Obligations; (g) any failure to acquire, perfect, or continue any
security interest or lien on Collateral securing all or any part of the Guaranteed Obligations or on any property securing this Guaranty Agreement; (h) any exchange, release, or subordination of any security interest or lien on any Collateral,
or any release, amendment, waiver, or subordination of any term of any guaranty of the Guaranteed Obligations or any other impairment of any collateral security or guaranty now or hereafter securing all or any part of the Guaranteed Obligations;
(i) any failure to dispose of any collateral security at any time securing all or any part of the Guaranteed Obligations or this Guaranty Agreement in a commercially reasonable manner or as otherwise may be required by any Applicable Law;
(j) any merger, reorganization, consolidation, or dissolution of Client or any other Person at any time liable for any of the Obligations, any sale, lease, or transfer of any or all of the assets of Client or any other Person at any time liable
for any of the Obligations, or any change in name, business, organization, location, composition, structure, or organization of Client or any other Person at any time liable for any of the Obligations; (k) any change of control or any other
change in the capitalization or Equity Interest ownership of Client or any other Person at any time liable for any of the Obligations; (l) any invalidity or unenforceability of or defect or deficiency in any of the Finance Documents;
(m) avoidance or subordination of the Guaranteed Obligations, or any portion thereof, (n) the unenforceability of all or any part of the Guaranteed Obligations against Client because any interest contracted for, charged, or received in
respect of the Guaranteed Obligations exceeds the amount permitted by any Applicable Law; (o) any waiver, consent, extension, forbearance, or granting of any indulgence by FGI with respect to the Guaranteed Obligations or any provision of any
of the Finance Documents; (p) any delay in or lack of enforcement of any remedies under the Finance Documents; (q) the act of creating all or any part of the Guaranteed Obligations is ultra vires, or the officers or other representatives
creating all or any part of the Guaranteed Obligations acted in excess of their authority; (r) any election of remedies by FGI; (s) any of the Finance Documents were forged; (t) the election by FGI in any proceeding under the
Bankruptcy Code of the application of Section 1111(b)(2) thereof; (u) any borrowing or grant of a security interest by Client as debtor-in-possession, under Section 364 of the Bankruptcy Code; (v) any use by Client (whether with
the consent of FGI or otherwise) of cash collateral during the pendency of any bankruptcy proceeding; 

  

			
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(w) the making of post-petition loans or any other provision for the extension of post-petition credit to Client as debtor-in-possession in any bankruptcy proceedings; (x) the
disallowance in bankruptcy of all or any portion of the claims of FGI for payment of any of the Guaranteed Obligations; or (y) any other circumstance which might otherwise constitute a legal or equitable discharge or defense available to Client
or Guarantor (other than that the Guaranteed Obligations shall have been indefeasibly paid and performed in full). 
 5.
Consent and Waiver. 
 (a) Guarantor hereby waives: (i) notice of acceptance of this Guaranty
Agreement; (ii) notice of any extensions of credit or financial accommodations or the creation or existence of any Guaranteed Obligations; (iii) notice of the amount of the Guaranteed Obligations; (iv) notice of any adverse change in
the financial condition of Client or any other Person or of any other fact that might increase or otherwise change Guarantor’s risk with respect to the Guaranteed Obligations, Client or any other Person under or in connection with this Guaranty
Agreement; (v) notice of presentment for payment, demand, protest and notice thereof, notice of intent to accelerate, notice of acceleration, notice of dishonor, diligence or promptness in enforcement, and indulgences of every kind as to any
promissory notes or other instruments; (vi) notice of any of the events or circumstances enumerated in Section 4, and all other notices and demands to which Guarantor might otherwise be entitled (except if such notice is
specifically required to be given to Guarantor hereunder or under any other Finance Documents); (vii) any requirement that FGI protect, secure, perfect, or insure its security interest and liens on any Collateral or other property as security
for the Guaranteed Obligations or exhaust any right or take any action against FGI or any other Person or any Collateral or any other property subject to a security interest or lien; (viii) the benefit of any statute of limitation applicable to
enforcement of the Guaranteed Obligations, or any portion thereof, or any security interests or liens in the Collateral or other property as security for the Guaranteed Obligations or this Guaranty Agreement; (ix) all rights by which Guarantor
might be entitled to require suit on an accrued right of action in respect of any of the Guaranteed Obligations or require suit against Client or any other Person; or (x) any other defense of Client or any other Person (other than that the
Guaranteed Obligations shall have been indefeasibly paid and performed in full, or in part, to the extent of any such partial payment or performance). 

(b) Guarantor hereby waives and agrees not to assert against FGI, to the extent allowed by any Applicable Law:
(i) any defense, setoff, counterclaim, or claim of any kind or nature available to Client or any other Person against FGI arising directly or indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of
the Guaranteed Obligations or any security interest or lien in the Collateral or any other property as security for the Guaranteed Obligations; or (ii) any right or defense arising by reason of any claim or defense based upon an election of
remedies by FGI under any Applicable Law. 
 (c) FGI shall have the right to seek recourse against Guarantor
to the fullest extent provided for herein, and no election by FGI to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of FGI’s right to proceed in any other form of action or
proceeding or against other parties unless FGI has expressly waived such right in writing. Without limiting the foregoing, no action or proceeding by FGI under any document or instrument evidencing the Guaranteed Obligations shall serve to diminish
the liability of Guarantor under this Guaranty Agreement except to the extent that FGI finally and unconditionally shall have realized indefeasible payment in full of the Guaranteed Obligations. 

  

			
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 (d) Guarantor waives, and agrees that its liability hereunder
shall not be affected by, any neglect, delay, omission, failure, or refusal of FGI to (i) exercise or properly or diligently exercise any right or remedy with respect to any or all of the Guaranteed Obligations or the collection thereof or any
security interests or liens or other security for or Guaranty of the Guaranteed Obligations, or any portion thereof, (ii) take or prosecute, or properly or diligently take or prosecute, any action for the collection of any or all of the
Guaranteed Obligations against Client, Guarantor or any other Person in respect of any or all of the Guaranteed Obligations, (iii) foreclose or prosecute, or properly or diligently foreclose or prosecute, any action in connection with any
agreement, document or instrument or arrangement evidencing, securing, or otherwise affecting all or any part of the Guaranteed Obligations, or (iv) mitigate damages or take any other action to reduce, collect, or enforce the Guaranteed
Obligations; 
 (e) FGI may at any time, without the consent of or notice to Guarantor, without incurring
responsibility to Guarantor and without impairing, releasing, reducing, or affecting the obligations of Guarantor hereunder: (i) change the manner, place, or terms of payment of all or any part of the Guaranteed Obligations, or renew, extend,
modify, rearrange, refinance, refund, increase or alter all or any part of the Guaranteed Obligations; (ii) sell, exchange, release, surrender, subordinate, realize upon, or otherwise deal with in any manner and in any order any Collateral and
any security interest or lien securing all or any part of the Guaranteed Obligations or this Guaranty Agreement or setoff against all or any part of the Guaranteed Obligations; (iii) neglect, delay, omit, fail, or refuse to take or prosecute
any action for the collection of all or any part of the Guaranteed Obligations or this Guaranty Agreement or to take or prosecute any action in connection with any of the Finance Documents; (iv) exercise or refrain from exercising any rights
against Client or other Person, or otherwise act or refrain from acting; (v) settle or compromise all or any part of the Guaranteed Obligations and subordinate the payment of all or any part of the Guaranteed Obligations to the payment of any
indebtedness, liabilities, or obligations which may be due or become due to FGI; (vi) release all or any one or more parties to any one or more of the Finance Documents or grant forbearance or other indulgences to Client or any other Person in
respect thereof; (vii) amend or modify in any manner and at any time (or from time to time) any of the Finance Documents; or (viii) partially or fully release or substitute Guarantor, or enforce, exchange, release, or waive any security
for the Guaranteed Obligations, or any portion thereof; (ix) bring suit against any and all Persons liable or obligated in respect of the Guaranteed Obligations, collectively together, jointly and severally or separately, and apply any amounts
obtained by FGI in such manner as FGI may elect, subject to the Finance Documents; and (x) apply to the Guaranteed Obligations any sums paid to FGI by Client, Guarantor or any other Person as provided by the Finance Documents. 

(f) Should FGI seek to enforce this Guaranty Agreement by action in any court or otherwise, Guarantor waives
any requirement, substantive or procedural, that (i) rights or remedies be enforced first against Client or any other Person liable for all or any part of the Guaranteed Obligations, including, without limitation, that a judgment first be
rendered against Client or any such Person, or that Client or any such Person should be joined in such cause or (ii) enforcement shall first be made against any Collateral or other property which shall ever have been given to secure all or any
part of the Guaranteed Obligations or this Guaranty Agreement. 
 (g) Guarantor’s obligations under
this Guaranty Agreement shall not be impaired by any action, if any, which results in the denial or impairment of any right to seek a deficiency against Client. 

(h) Guarantor agrees that it has the sole responsibility for keeping itself informed of the financial
condition of Client and of all other circumstances bearing upon the risk of 

  

			
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nonpayment of the Guaranteed Obligations or any part thereof, and that FGI shall not have any obligation or duty to advise Guarantor of information known to it regarding such condition or any
such circumstance. 
 (i) Guarantor consents and agrees that FGI shall not have any obligation to marshal
assets securing the Guaranteed Obligations in favor of Guarantor. 
 (j) FGI may, at any time and from time
to time in its discretion (subject to the MFA) and with or without valuable consideration, allow substitution or withdrawal of Collateral or other security and release Collateral or other security without impairing or diminishing the indebtedness,
liabilities, or obligations of Guarantor under this Guaranty Agreement. 
 (k) Any determination by a court
of competent jurisdiction of the amount of any principal and/or interest or other amount constituting any of the Guaranteed Obligations shall be conclusive and binding on Guarantor irrespective of whether Guarantor was a party to the suit or action
in which such determination was made. 
 6. Default.  Upon the occurrence and during the continuation of an
Event of Default, Guarantor agrees to pay to FGI at its office located in New York, New York, or at such other place as FGI may specify to Guarantor in writing, on demand by FGI and without further notice of dishonor and without notice of any kind
to Client, Guarantor, or any other Person, the full unpaid amount of the Guaranteed Obligations, in immediately available funds, or such lesser amount, if any, as may then be due and payable and demanded by FGI from time to time. If acceleration of
the time for payment of any amount payable by Client under or with respect to any of the Guaranteed Obligations is stayed or otherwise delayed upon the insolvency, bankruptcy, or reorganization of Client, all such amounts otherwise subject to
acceleration under the terms of the Guaranteed Obligations shall nonetheless be payable by Guarantor hereunder promptly on demand by FGI, and Guarantor, expressly and unconditionally agrees to make such payment to FGI in full. 

7. No Waiver.  No failure on the part of FGI to exercise, and no forbearance, delay or omission by FGI in
exercising, any right or remedy hereunder shall impair such right or remedy or operate or be construed as a waiver thereof or any acquiescence therein, nor shall any single or partial exercise of any right or remedy hereunder preclude any other or
further exercise thereof or the exercise of any other right or remedy hereunder. 
 8. Notice of Sale.  In
the event that Guarantor is entitled to receive any notice under the UCC, as it exists in the state governing any such notice, of the sale or other disposition of any Collateral or other property securing all or any part of the Guaranteed
Obligations or this Guaranty Agreement, it is agreed that at least ten (10) days notice to Guarantor of the time and place of any public sale, or the time after which any private sale or other disposition may be made of any such Collateral or
other property, shall be deemed to be reasonable notice in conformity with such requirements. 
 9. Payment by
Guarantor.  Whenever Guarantor pays any sum which is or may become due under this Guaranty Agreement, written notice must be delivered to FGI contemporaneously with such payment. 

10. Binding Effect.  This Guaranty Agreement is for the benefit of FGI and its successors and assigns, and in
the event of an assignment by FGI, or FGI’s successors or assigns, of the Guaranteed Obligations, or any part thereof, the rights and benefits hereunder, to the extent applicable to the indebtedness, liabilities, and obligations so assigned,
shall be deemed transferred with such indebtedness, 

  

			
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liabilities, and obligations without necessity of further express action. This Guaranty Agreement is binding upon Guarantor and its successors and assigns. 

11. Subordination of Indebtedness and Liens.  The payment of any and all principal of and interest on all
indebtedness of Client to the Guarantor, whether direct, indirect, fixed, contingent, liquidated, unliquidated, joint, several, or joint and several, now or hereafter existing, due or to become due to Guarantor under any and all circumstances,
including, without limitation, any rights of subrogation of Guarantor in respect of any payment by Guarantor under this Guaranty Agreement (herein called the “Subordinated Debt”), shall in all respects be subordinate and junior in
right of payment and enforcement to the prior payment and enforcement in full of the Guaranteed Obligations as provided in this Section. Except to the extent, if any, as may be expressly permitted by the MFA, no payment shall be made on or with
respect to the Subordinated Debt unless and until the Guaranteed Obligations shall have been paid and performed in full. In the event that Guarantor shall receive any payment on account of the Subordinated Debt in violation of this Section,
Guarantor will hold, or cause to be held (as the case may be), any amount so received in trust for the benefit of FGI and will forthwith deliver, or cause to be delivered (as the case may be), such payment to FGI, in the form received, to be applied
to the Guaranteed Obligations. All security interests and liens, if any, at any time securing payment of all or any part of the Subordinated Debt (herein called the “Subordinated Liens”) shall be and remain inferior and subordinate
to the security interests and liens securing payment of all or any part of the Guaranteed Obligations, regardless of whether such Subordinated Liens presently exist or are hereafter created or when such Subordinated Liens were created, perfected,
filed, or recorded (provided that the foregoing shall not be interpreted or deemed to allow the existence of any security interests or liens that are prohibited by the Finance Documents). Guarantor shall not exercise or enforce any
creditors’ rights or remedies that it may have against Client, or foreclose, repossess, sequester, or otherwise institute any action or proceeding (whether judicial or otherwise, including, without limitation, the commencement of, or joinder
in, any bankruptcy, insolvency, reorganization, liquidation, receivership, or other debtor relief law) to enforce the Subordinated Debt or any Subordinated Lien on any assets of Client unless and until the Guaranteed Obligations shall have been paid
and performed in full. The terms and provisions of this Section are given by Guarantor as additional rights and benefits to any and all other subordination agreements heretofore, concurrently herewith, or hereafter executed by Guarantor to or in
favor of FGI, and nothing in this Guaranty Agreement shall be deemed to in any way negate or replace any other such previous, concurrent, or subsequent subordination agreements. 

12. Right of Setoff.  Guarantor hereby grants to FGI a right of setoff against any Guaranteed Obligations
then due and payable upon any and all monies, securities, or other property of Guarantor, and the proceeds therefrom, now or hereafter held or received by or in transit to FGI from or for the account of Guarantor, whether for safekeeping, custody,
pledge, transmission, collection, or otherwise, and also upon any and all general or special deposits (to the extent not prohibited by any Applicable Law) and credits of Guarantor, and any and all claims of Guarantor against FGI at any time
existing. 
 13. Invalid Provisions.  If any provision of this Guaranty Agreement is held to be illegal,
invalid, or unenforceable under present or future laws effective during the term hereof, such provision shall be fully severable, this Guaranty Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision was not
a part hereof, and the remaining provisions hereof shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom. Notwithstanding any language to the contrary
contained herein, no provision herein or in any other Finance Document evidencing the Guaranteed Obligations shall require the payment or permit the collection of interest in excess of the maximum permitted by any Applicable Law. 

  

			
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 14. Modification in Writing.  No modification, consent,
amendment, or waiver of any provision of this Guaranty Agreement, and no consent to any departure by Guarantor herefrom, shall be effective unless the same shall be in writing and signed by a duly authorized officer of FGI and, as to any
modification or amendment, Guarantor, and then shall be effective only in the specific instance and for the specific purpose for which given. 

15. Limited Effect of Notices; Consents.  No notice to or demand on, or consent by, Guarantor in any case
shall, of itself, entitle Guarantor to any other or further notice or demand, or right to grant or refuse consent, in similar or other circumstances. 

16. Cumulative Rights.  All rights and remedies of FGI under this Guaranty Agreement are cumulative of each
other and of every other right or remedy which FGI may otherwise have under any applicable law or under any other agreement. 

17. Expenses.  Guarantor agrees to pay on demand all reasonable costs and expenses incurred by FGI in
connection with the negotiation, preparation, execution, and performance of this Guaranty Agreement and any and all amendments, modifications, renewals, restatements, and/or supplements hereto from time to time, including, without limitation,
reasonable attorneys fees. If Guarantor should breach or fail to perform any provision of this Guaranty Agreement, Guarantor agrees to pay to FGI all reasonable costs and expenses incurred by FGI in the enforcement of this Guaranty Agreement from
time to time, including, without limitation, reasonable attorneys fees. 
 18. GOVERNING LAW; VENUE; WAIVER OF JURY
TRIAL. 
 (a) THIS GUARANTY AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW. GUARANTOR HEREBY IRREVOCABLY SUBMITS ITSELF TO THE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN NEW YORK COUNTY, NEW YORK AND AGREES
AND CONSENTS THAT SERVICE OF PROCESS MAY BE MADE UPON HIM IN ANY LEGAL PROCEEDING RELATING TO THIS GUARANTY AGREEMENT OR ANY OTHER RELATIONSHIP BETWEEN FGI AND GUARANTOR BY ANY MEANS ALLOWED UNDER STATE OR FEDERAL LAW. ANY LEGAL PROCEEDING ARISING
OUT OF OR IN ANY WAY RELATED TO THIS GUARANTY AGREEMENT OR ANY OTHER RELATIONSHIP BETWEEN FGI AND GUARANTOR MAY BE BROUGHT AND LITIGATED IN ANY ONE OF THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK COUNTY, NEW YORK HAVING JURISDICTION. THE PARTIES
HERETO HEREBY WAIVE AND AGREE NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE OR OTHERWISE, THAT ANY SUCH PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE THEREOF IS IMPROPER. 

(b) GUARANTOR (AND FGI BY ITS ACCEPTANCE OF THIS GUARANTY AGREEMENT) HEREBY (i) IRREVOCABLY WAIVES, TO THE
MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY AT ANY TIME ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY
OR ASSOCIATED HEREWITH; (ii) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR
IN ADDITION TO, ACTUAL DAMAGES; (iii) CERTIFIES THAT NO PARTY HERETO NOR ANY 

  

			
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REPRESENTATIVE OR AGENT OR COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVERS; AND (D) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS GUARANTY AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION. 

19. NO ORAL AGREEMENTS.  THIS GUARANTY AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN GUARANTOR
AND FGI RELATING TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF SUCH PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN GUARANTOR AND FGI. THIS GUARANTY AGREEMENT
SUPERSEDES ALL PRIOR (IF ANY) ORAL AGREEMENTS, ARRANGEMENTS, OR UNDERSTANDINGS RELATING TO THE SUBJECT MATTER HEREOF. 

20. Notices.  All notices or demands by any party relating to this Guaranty Agreement shall be in writing and
(except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be (a) personally delivered, (b) sent by registered or certified mail, postage prepaid, return receipt
requested, or (c) sent by receipted overnight delivery service or (d) sent by telecopy, to Guarantor or to FGI, as the case may be, at their addresses and fax numbers set forth below: 

 

			
	 If to Guarantor:
	  	 Mad Catz Asia Interactive Limited

		  	 c/o Mad Catz, Inc.

		  	 10680 Treena Street, Suite 500

		  	 San Diego, California 92131

		  	 Attn: Legal and Finance Department

		  	 Telephone No.:    858-790-5008

		  	 Facsimile No.:    858-790-5018

		
	 If to FGI:
	  	 Faunus Group International, Inc.

		  	 80 Broad Street

		  	 New York, New York 10004

		  	 Attn: Guy Joseph Albertelli

		  	 Facsimile No.: 212-248-3404

 Any such address or fax number may be changed by notice in writing in the foregoing manner given to the other.
All notices or demands sent in accordance with this Section 21 shall be deemed received on the earlier of (y) the date of actual receipt or (z) three (3) business days after the deposit thereof in the mail or one
(1) business day after deposit thereof with an overnight delivery service. 
 21. Survival.  All
representations, warranties, covenants, and agreements of Guarantor in this Guaranty Agreement shall survive the execution of this Guaranty Agreement. 

22. Counterparts.  This Guaranty Agreement may be executed in any number of counterparts and a telecopy or
other electronic transmission of any such executed counterpart shall be deemed valid as an original. 
 REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK 

  

			
	GUARANTY AGREEMENT (MAD CATZ ASIA) – (FGI Finance) - Page 9	  	

 IN WITNESS WHEREOF, the undersigned has executed this Guaranty Agreement as of
the effective date specified in the introductory paragraph hereinabove. 
  

			
	 GUARANTOR:

	
	MAD CATZ INTERACTIVE ASIA LIMITED

 
			
		
	 By:
	 	  /s/ Darren
Richardson

 
			
	 Name:
	 	  Darren
Richardson

 
			
	 Title:
	 	  Director

  

			
	GUARANTY AGREEMENT (MAD CATZ ASIA) – (FGI Finance) - Page 10EX-10.20

 Exhibit 10.20 

GUARANTEE 
 This
Agreement is made as of June 30 2015. 
  

					
	 TO:
	    	 Name:

Address:
	    	 Faunus Group International, Inc.

80 Broad Street, 22nd Floor

New York, NY 10004

		    	 Attention:

Facsimile:
	    	 Chris Fulman

(212) 248-3404

 RECITALS: 

A. Mad Catz Europe Limited (the “Seller”) and Faunus Group International, Inc. (“FGI”), are
parties to a master facilities agreement dated as of July 2, 2015 (as amended, supplemented, restated or replaced from time to time, the “Master Facilities Agreement”). 

B. It is in the interests of 1328158 Ontario Inc. and Mad Catz Interactive, Inc. (the “Guarantors”) that FGI meet its
obligations under the Master Facilities Agreement, and each Guarantor is therefore prepared to issue this Agreement in favour of FGI in order to induce FGI to do so. 

For good and valuable consideration, the receipt and adequacy of which are acknowledged by each Guarantor, each Guarantor
severally (and not jointly or jointly and severally) agrees with and in favour of FGI as follows: 
 1.
Definitions.  Capitalized terms used but not otherwise defined in this Agreement shall have the meanings given to them in the Master Facilities Agreement, and the following terms have the following meanings: 

“Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with, such Person. 
 “Agreement” means this
agreement, including the exhibits and recitals to this agreement, as it or they may be amended, supplemented, restated or replaced from time to time, and the expressions “hereof”, “herein”, “hereto”,
“hereunder”, “hereby” and similar expressions refer to this Agreement and not to any particular section or other portion of this Agreement. 

“Control” means, in respect of a particular Person, the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of such Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlled” has a meaning correlative thereto. 

“Event of Default” means any “Event of Default” as defined in the Master Facilities Agreement. 

“FGI” has the meaning set out in the recitals hereto. 

  

			
		  	Guarantee

  
 - 2 - 

 

 “Governmental Authority” means the government of Canada, any other nation
or any political subdivision thereof, whether provincial, state, territorial or local, and any agency, authority, instrumentality, regulatory body, court, central bank, fiscal or monetary authority or other authority regulating financial
institutions, and any other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government, including the Bank Committee on Banking Regulation and Supervisory Practices of
the Bank of International Settlements. 
 “Guarantor Liabilities” means, in respect of any Guarantor, all present
and future indebtedness, liabilities and obligations of such Guarantor to FGI under this Agreement. 
 “Guarantors”
has the meaning set out in the recitals hereto, and “Guarantor” means any one of them. 
 “Insolvency
Proceeding” means any proceeding seeking to adjudicate a Person an insolvent, seeking a receiving order against such Person under the Bankruptcy and Insolvency Act (Canada), or seeking liquidation, dissolution, winding-up,
reorganization, compromise, arrangement, adjustment, protection, moratorium, relief or composition of such Person or its debts or a stay of proceedings of such Person’s creditors generally (or any class of creditors) or any other relief, under
any federal, provincial, territorial or foreign law now or hereafter in effect relating to bankruptcy, winding-up, insolvency, reorganization, receivership, plans of arrangement or relief or protection of debtors (including the Bankruptcy and
Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada) and any similar legislation in any jurisdiction) or at common law or in equity. 

“Intercompany Debt” means, in respect of any Guarantor, all present and future indebtedness, liabilities and
obligations of any and every kind, nature and description (whether direct or indirect, joint or several, absolute or contingent, matured or unmatured) of the Seller Parties to such Guarantor and all guarantees and security therefor. 

“Laws” means all federal, provincial, municipal, foreign and international statutes, acts, codes, ordinances, decrees,
treaties, rules, regulations, municipal by-laws, judicial or arbitral or administrative or ministerial or departmental or regulatory judgments, orders, decisions, rulings or awards or any provisions of the foregoing, including general principles of
common and civil law and equity, and all policies, practices and guidelines of any Governmental Authority binding on or affecting the Person referred to in the context in which such word is used (including, in the case of tax matters, any accepted
practice or application or official interpretation of any relevant taxation authority); and “Law” means any one or more of the foregoing. 

“Lien” means, (a) with respect to any asset, any mortgage, deed of trust, lien, pledge, hypothec (whether movable
or immovable), hypothecation, encumbrance, charge, security interest, royalty interest, adverse claim, defect to title or right of set off in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement,
capital lease, title retention agreement or consignment agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to any asset, (c) any purchase option, call or similar right of a third
party with respect to such asset, (d) any netting arrangement, defeasance arrangement or 

  
 Guarantee 

  
 - 3 - 

 

 reciprocal fee arrangement, and (e) any other arrangement having the effect of providing
security. 
 “Master Facilities Agreement” has the meaning set out in the recitals hereto. 

“Original Currency” has the meaning set out in Section 18. 

“Other Currency” has the meaning set out in Section 18. 

“Organizational Documents” means, with respect to any Person, such Person’s articles or other charter
documents, by-laws, unanimous shareholder agreement, partnership agreement or trust agreement, as applicable, and any and all other similar agreements, documents and instruments relative to such Person. 

“Person” includes any natural person, corporation, company, limited liability company, unlimited liability
company, trust, joint venture, association, incorporated organization, partnership, Governmental Authority or other entity. 

“Security” means any present or future Lien, or any present or future guarantee or other financial assistance,
granted by any Person with respect to any or all of the Seller Liabilities or Guarantor Liabilities. 
 “Seller” has
the meaning set out in the recitals hereto. 
 “Seller Liabilities” means all present and future
indebtedness, liabilities and obligations of any and every kind, nature and description (whether direct or indirect, joint or several, absolute or contingent, matured or unmatured) of the Seller to FGI in connection with or with respect to the
Transaction Documents, including without limitation any obligations under the Master Facilities Agreement. 

“Surety” means any present or future guarantor or surety of any or all of the Seller Liabilities, other than
the Guarantors. 
 “Transaction Documents” means the Master Facilities Agreement, and any other
Finance Documents as defined in the Master Facilities Agreement.  
  

2.Guarantee.  Each Guarantor hereby unconditionally and irrevocably guarantees the prompt payment and performance to
FGI, of all Seller Liabilities when due in accordance with their terms. All amounts payable by any Guarantor under this Agreement shall be paid to FGI at the address of FGI shown above or as otherwise directed in writing by FGI. All Guarantor
Liabilities shall be payable or performable forthwith upon demand by FGI, and any which are not so paid shall bear interest from the date of such demand at the rate or rates applicable to the corresponding Seller Liabilities. 

 
 3.Guarantor Liabilities.  The Guarantor
Liabilities of each Guarantor are continuing, absolute, unconditional and irrevocable. The Guarantor Liabilities of each Guarantor shall remain effective despite, and shall not be released, exonerated, discharged, diminished, subjected to defence,
limited or in any way affected by, anything done, omitted to be done, suffered or  

  

Guarantee 

  
 - 4 - 

 

 permitted by FGI, the Seller, any other Guarantor or any other Person, or by any other matter,
act, omission, circumstance, development or other thing of any nature, kind or description, other than the due payment and performance in full of all of the Seller Liabilities and all of the Guarantor Liabilities of such Guarantor. 

4. Guarantee Absolute  Without limiting the generality of Section 3, the Guarantor Liabilities of each Guarantor
shall remain fully effective and enforceable against such Guarantor and shall not be released, exonerated, discharged, diminished, subjected to defence, limited or in any way affected by, and the rights and remedies of FGI under this Agreement shall
not in any way be diminished or prejudiced by, and each Guarantor hereby consents or waives, as applicable, to the fullest extent permitted by applicable Law: 
  

	 	(a)	 any lack of genuineness, legality, validity or enforceability of any of the Seller Liabilities or of any agreement or arrangement between the
Seller, any other Guarantor, or any other Person, and FGI, or any failure by the Seller, or any other Person, to carry out any of its obligations under any such agreement or arrangement; 

 

	 	(b)	 any change in the existence, name, objects, business, powers, organization, share capital, Organizational Documents, ownership, control, directors
or management of the Seller, such Guarantor or any Surety, the reorganization of the Seller, such Guarantor or any Surety, any amalgamation or merger by the Seller, such Guarantor or any Surety with any other Person or Persons, or any continuation
of the Seller, such Guarantor, or any Surety under the laws of any jurisdiction; 

  

	 	(c)	 any lack or limitation of power, incapacity or disability of the Seller, such Guarantor or any Surety or of the directors, officers, managers,
employees or agents of the Seller, such Guarantor or any Surety or any other irregularity, defect or informality, or any fraud, by the Seller, such Guarantor or any Surety or any of their respective directors, officers, managers, employees or
agents, with respect to any or all of the Seller Liabilities, any or all of its Guarantor Liabilities or any or all of the liabilities and obligations of any Surety; 

 

	 	(d)	 any non-compliance with or contravention by such Guarantor of any provision of any corporate statute applicable to such Guarantor relative to
guarantees or other financial assistance given by such Guarantor; 

  

	 	(e)	 any impossibility, impracticability, frustration of purpose, force majeure or act of Governmental Authority with respect to the performance of any
of the Seller Liabilities or Guarantor Liabilities; 

  

	 	(f)	 any Insolvency Proceeding affecting, or the financial condition of, the Seller, such Guarantor, any Surety, FGI or any other Person at any time;

  

	 	(g)	 any law, regulation, limitation or prescription period or other circumstance that might otherwise be a defence available to, or a discharge of, the
Seller, such Guarantor or any Surety in respect of any or all of the Seller Liabilities, any or all 

  

Guarantee 

  
 - 5 - 

 

	 	 of its Guarantor Liabilities or any or all of the liabilities and obligations of any Surety; 

 

	 	(h)	 any loss of, or in respect of, any Security by or on behalf of FGI from the Seller, such Guarantor, any Surety or any other Person, whether
occasioned through the fault of FGI or otherwise; 

  

	 	(i)	 any loss or impairment of any right of such Guarantor for subrogation, reimbursement or contribution, whether or not as a result of any action
taken or omitted to be taken by FGI; or 

  

	 	(j)	 any other matter, act, omission, circumstance, development or thing of any and every nature, kind and description whatsoever, whether similar or
dissimilar to the foregoing (other than the due payment and performance in full of the Seller Liabilities and its Guarantor Liabilities) that might in any manner (but for the operation of this Section) operate (whether by statute, at law, in equity
or otherwise) to release, discharge, diminish, limit, restrict or in any way affect the liability of, or otherwise provide a defence to, a guarantor, a surety, or a principal debtor, even if known by FGI. 

5. Dealing with Seller Liabilities.  Without limiting the generality of Section 3, the Guarantor Liabilities of
each Guarantor shall remain fully effective and enforceable against the such Guarantor and shall not be released, exonerated, discharged, diminished, subjected to defence, limited or in any way affected by, and the rights and remedies of FGI under
this Agreement shall not in any way be diminished or prejudiced by, and each Guarantor hereby consents to or waives, as applicable, to the fullest extent permitted by applicable Law: 

 

	 	(a)	 any amendment, alteration, novation or variation in any manner and to any extent (and irrespective of the effect of the same on any Guarantor) of
any of the Seller Liabilities, any of the liabilities and obligations of any Surety, any Security or FGI’s arrangements or agreements with the Seller, any Guarantor, any Surety or any other Person; 

 

	 	(b)	 any limitation, compromise, subordination, postponement or abandonment of any of the Seller Liabilities, any of the Guarantor Liabilities of any
Guarantor, any of the liabilities and obligations of any Surety, any Security or FGI’s arrangements or agreements with the Seller, any Guarantor, any Surety or any other Person; 

 

	 	(c)	 any grant of time, renewal, extension, indulgence, release, discharge or other course of conduct by FGI to the Seller, any Guarantor, any Surety or
any other Person; 

  

	 	(d)	 the creation of any new or additional Seller Liabilities, the increase or reduction of the rate of interest on any or all of the Seller Liabilities
or any other rates or fees payable under or in respect of any or all of the Seller Liabilities; 

  

Guarantee 

  
 - 6 - 

 

	 	(e)	 any alteration, settlement, compromise, acceleration, extension or change in the time or manner for payment or performance by the Seller made or
permitted by FGI of, or by any Guarantor or any other Person or Persons liable to FGI with respect to, any or all of the Seller Liabilities; 

  

	 	(f)	 FGI taking or abstaining from taking Security from the Seller, any Guarantor, any Surety or any other Person or abstaining from completing,
perfecting or maintaining the perfection of any Security; 

  

	 	(g)	 FGI releasing, substituting or adding one or more Sureties or endorsers, accepting additional or substituted Security, or releasing, subordinating
or postponing any Security; 

  

	 	(h)	 FGI accepting compromises from the Seller, any Guarantor, any Surety or any other Person; 

 

	 	(i)	 the creation or addition of any new Transaction Documents; 

 

	 	(j)	 FGI doing, or omitting to do, anything to enforce the payment or performance of any or all of the Seller Liabilities, any or all of the Guarantor
Liabilities of any Guarantor, any or all of the liabilities and obligations of any Surety or any Security; 

  

	 	(k)	 FGI giving or refusing to give or continuing to give any credit or any financial accommodation to the Seller or to any other Person;

  

	 	(l)	 FGI proving any claim in any Insolvency Proceeding affecting the Seller, any Guarantor, any Surety or any other Person as it sees fit or refraining
from proving any claim or permitting or suffering the impairment of any of the Seller Liabilities in any such Insolvency Proceeding; making any election in any such Insolvency Proceeding; permitting or suffering the creation of secured or unsecured
credit or debt in any such Insolvency Proceeding; or permitting or suffering the disallowance, avoidance, or subordination of any of the Seller Liabilities or the obligations of any other debtor with respect to the Seller Liabilities in any such
Insolvency Proceeding; 

  

	 	(m)	 FGI applying any money received from the Seller, any Guarantor, any Surety, any other Person or any Security upon such part of the Seller
Liabilities as FGI may see fit or changing any such application in whole or in part from time to time as FGI may see fit; or 

  

	 	(n)	 FGI otherwise dealing with the Seller, any Guarantor, any Surety, any other Person, the Seller Liabilities, the Guarantor Liabilities of any
Guarantor, the liabilities and obligations of any Sureties, and all Security as FGI may see fit. 

 6. Settlement of
Accounts.  Any account settled or stated between FGI and the Seller shall be accepted by each Guarantor as prima facie evidence that the amount thereby appearing due by the Seller to FGI is so due. 

  

Guarantee 

  
 - 7 - 

 

 7. Indemnity.  If any or all of the Seller Liabilities are not duly paid
or performed by the Seller and are not paid or performed by the Guarantors under Section 0 for any reason whatsoever, each Guarantor shall, as a separate and distinct obligation, indemnify and save FGI harmless from and against all losses, costs,
damages, expenses, claims and liabilities that FGI may suffer or incur in connection with or in respect of any failure by the Seller for any reason to pay or perform any of the Seller Liabilities, and shall pay all such amounts to FGI after demand
as herein provided. 
 8. Guarantors Liable as Principal Seller.  If, and to the extent that, any amount in respect
of the Seller Liabilities is not recoverable from any Guarantor under this Agreement on the basis of a guarantee or FGI is not indemnified under Section 7, in each case, for any reason whatsoever, then, notwithstanding any other provision of
this Agreement, such Guarantor shall be liable under this Agreement as principal obligors in respect of the due payment of such amount and shall pay such amount to FGI after demand as herein provided. 

9. Continuing Guarantee.  This Agreement is a continuing guarantee and is binding as a continuing obligation of each
Guarantor and the Seller Liabilities shall be conclusively presumed to have been created in reliance on this Agreement. A Guarantor may not in any manner terminate this Agreement or the Guarantor Liabilities of such Guarantor other than by the due
and punctual payment in full of the Guarantor Liabilities of such Guarantor. 
 10. Stay of Acceleration.  If
acceleration of the time for payment, or the liability of the Seller to make payment, of any amount specified to be payable by the Seller in respect of the Seller Liabilities is stayed, prohibited or otherwise affected upon any Insolvency Proceeding
or other event affecting the Seller or payment of any of the Seller Liabilities by the Seller, all such amounts otherwise subject to acceleration or payment shall nonetheless be deemed for all purposes of this Agreement to be and to have become due
and payable by the Seller and shall be payable by each Guarantor under this Agreement immediately forthwith on demand by FGI. 
 11.
Seller Information.  Each Guarantor acknowledges and agrees that such Guarantor has not executed this Agreement as a result of, by reason of, or in reliance upon, any promise, representation, statement or information of any kind
or nature whatsoever given, or offered to such Guarantor, by or on behalf of FGI or any other Person whether in answer to any enquiry by or on behalf of such Guarantor or not and FGI was not prior to the execution by such Guarantor of this
Agreement, and are not thereafter, under any duty to disclose to such Guarantor or any other Person any information, matter or thing (material or otherwise) relating to the Seller, its affairs or its transactions with FGI, including any information,
matter or thing which puts or may put the Seller in a position which such Guarantor would not naturally expect or any unexpected facts or unusual features which, whether known or unknown to such Guarantor, are present in any transaction between the
Seller and FGI, and FGI was not and is not under any duty to do or execute any matter, thing or document relating to the Seller, its affairs or its transactions with FGI. Each Guarantor acknowledges and confirms that they have established their own
adequate means of obtaining from the Seller on a continuing basis all information desired by such Guarantor concerning the financial condition of the Seller and that such Guarantor will look to the Seller, and not to FGI, in order for such Guarantor
to keep adequately informed of changes in the Seller’s financial condition. 

  

Guarantee 

  
 - 8 - 

 

 12. Reinstatement.  If, at any time, all or any part of any payment
previously applied by FGI to any of the Seller Liabilities is or must be rescinded or returned by FGI for any reason whatsoever (including any Insolvency Proceeding affecting the Seller or any other Person), such Seller Liabilities shall, for the
purpose of this Agreement, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application by FGI, and this Agreement shall continue to be effective or be reinstated, as
the case may be, as to such Seller Liabilities, all as though such application by FGI had not been made. 
 13.
Subrogation.  Notwithstanding any payment made by any Guarantor under this Agreement or any setoff or application of funds of any Guarantor by FGI, no Guarantor shall have any right of subrogation to, and each Guarantor waives,
any right to enforce any remedy which FGI now have or may hereafter have against the Seller, until all of the Seller Liabilities have been indefeasibly paid in full; and until that time, each Guarantor waives any benefit of, and any right to
participate in, any Security now or hereafter held by FGI for the Seller Liabilities. 
 14. Assignment and
Postponement.  Each Guarantor hereby (a) grants to FGI a security interest in all Intercompany Debt as general and continuing collateral security for the Guarantor Liabilities, and (b) postpones all Intercompany Debt to
the payment in full of the Seller Liabilities. All moneys received by any Guarantor in respect of Intercompany Debt shall be received by such Guarantor in trust for FGI and, immediately following such receipt, shall be paid over to FGI. 

15. Insolvency Proceedings.  In any Insolvency Proceeding affecting the Seller, FGI shall have the right, in priority
to each Guarantor, to receive their full claim in respect of such Insolvency Proceeding for all of the Seller Liabilities. FGI shall have the right to include in their claim in any Insolvency Proceeding affecting the Seller all or any part of the
payments made by each Guarantor under this Agreement and, to prove and rank for, and receive dividends in respect of, all such claims, all of which rights and privileges as they relate and apply to each Guarantor are hereby assigned by such
Guarantor to FGI. The provisions of this Section shall be sufficient authority for any Person making payment of any such dividends to pay the same directly to FGI for the benefit of FGI. FGI shall be entitled to receive for its benefit all dividends
or other payments in respect of all of the above referenced claims until all of the Seller Liabilities are paid and satisfied in full and such Guarantor shall continue to be liable under this Agreement for any unpaid balance of the Seller
Liabilities. If any amount is paid to such Guarantor under any Insolvency Proceeding affecting the Seller when any of the Seller Liabilities remain outstanding, such amount shall be received and held in trust by such Guarantor for the benefit of FGI
and shall be immediately paid to FGI to be credited and applied against the Guarantor Liabilities. In any Insolvency Proceeding affecting the Seller FGI may in its discretion value as it sees fit, or may refrain from valuing, any Security held by
it. 
 16. Marshalling.  Each Guarantor waives to the fullest extent permitted by applicable Law, any right or claim
of right to cause a marshalling of the Seller’s, a Surety’s or any other Person’s assets, or to cause FGI to proceed against the Seller, a Surety or any other Person, or any Security, in any particular order. FGI shall not have any
obligation to marshall any assets in favour of the Seller, a Surety or any other Person or against or in payment of any of the Seller 

  

Guarantee 

  
 - 9 - 

 Liabilities or any of the obligations of any Guarantor, the Seller, a Surety or any other Person
owed to FGI. 
 17. Enforcing Rights Against Guarantors.  This is a guarantee of payment and performance and
not of collection. FGI shall not be required to take any action or to exhaust its recourse against the Seller, any Guarantor, any Surety or any other Person, or to enforce or value any Security, before being entitled to payment from, and to enforce
its rights and remedies against, any Guarantor under this Agreement. Each Guarantor hereby renounces to the benefits of division and discussion. 

18. Foreign Currency Guarantor Liabilities.  Each Guarantor shall make payment relative to any Seller
Liabilities in the currency (the “Original Currency”) in which the Seller is required to pay such Seller Liabilities. If any Guarantor makes payments relative to any Seller Liabilities in a currency (the “Other
Currency”) other than the Original Currency (whether voluntarily or pursuant to an order or judgment of a court or tribunal of any jurisdiction), such payment shall constitute a discharge of the Guarantor Liabilities of such Guarantor
only to the extent of the amount of the Original Currency which FGI is able to purchase at Toronto, Ontario with the amount it receives on the date of receipt. If the amount of the Original Currency which FGI is able to purchase is less than the
amount of such currency originally due to it in respect to the relevant Seller Liabilities, such Guarantor shall indemnify and save FGI harmless from and against any loss or damage arising as a result of such deficiency. This indemnity constitutes
an obligation separate and independent from the other obligations contained in this Agreement, gives rise to a separate and independent cause of action, applies irrespective of any indulgence granted by FGI and continues in full force and effect
notwithstanding any judgment or order in respect of any amount due hereunder or under any judgment or order. 
 19. Taxes and Set-Off.  All payments to be made by any Guarantor hereunder shall be made without set-off, compensation, deduction or counterclaim and without deduction for
any taxes, levies, duties, fees, deductions, withholdings, restrictions or conditions of any nature whatsoever. If at any time any applicable Law requires any Guarantor to make any such deduction or withholding from any such payment, the sum due
from any Guarantor with respect to such payment shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding, FGI receives a net sum equal to the sum which it would have received had no deduction or
withholding been required. 
 20. Interest.  All amounts demanded under this guarantee shall bear interest at
a rate per annum equal to the applicable interest rate as set forth in the Master Facilities Agreement from time of demand until paid, both before and after default and judgment. For the purposes of this guarantee, whenever interest is calculated on
the basis of a period which is less than the actual number of days in a calendar year, each rate of interest determined pursuant to such calculation is, for the purposes of the Interest Act (Canada), equivalent to such rate multiplied by the actual
number of days in the calendar year in which such rate is to be ascertained and divided by the number of days used as the basis of such calculation. 

21. Representations and Warranties.  Each Guarantor represents and warrants, upon each of which representations
and warranties FGI relies, that each of the representations and 

  

Guarantee 

  
 - 10 - 

 

 warranties relative to such Guarantor in each of the other Transaction Documents is true and
correct when made or deemed made. 
 22. Covenants.  Each Guarantor shall comply, and shall cause each of its
subsidiaries to comply, with all of the provisions, covenants and agreements contained in each of the Transaction Documents to the extent that such provisions, covenants and agreements apply to such Guarantor or its subsidiaries, and shall cause
each of its subsidiaries to, take, or refrain from taking, as the case may be, all actions that are necessary to be taken or not taken so that no violation of any provision, covenant or agreement contained in any of the Transaction Documents, and so
that no Default or Event of Default under any of the Transaction Documents, is caused by the actions or inactions of such Guarantor or any of its subsidiaries. 

23. Communication.  Any notice or other communication required or permitted to be given under this Agreement shall be
in writing and shall be effectively given if (i) delivered personally, (ii) sent by prepaid courier service or mail, or (iii) sent by facsimile transmission, e-mail or other similar means of
electronic communication, in each case in accordance with the contact particulars set out on the first page of this Agreement in the case of FGI, or in Schedule A, in the case of the any Guarantor. Any communication so given shall be deemed to have
been given and to have been received on the day of delivery if so delivered, or on the day of facsimile transmission or sending by other means of recorded electronic communication provided that such day is a Business Day and the communication is so
delivered or sent prior to 4:30 p.m. (local time at the place of receipt). Otherwise, such communication shall be deemed to have been given and to have been received on the following Business Day. Any communication sent by mail shall be deemed to
have been given and to have been received on the fifth Business Day following mailing, provided that no disruption of postal service is in effect. The Guarantors and FGI may from time to time change their respective addresses or facsimile numbers
for notice by giving notice to the other in accordance with the provisions of this Section. 
 24. Expenses; Indemnity;
Waiver. 
  

	 	(a)	 Each Guarantor shall pay to FGI (i) all reasonable out-of-pocket expenses incurred by FGI, including the reasonable fees, charges and
disbursements of counsel for FGI and all applicable taxes, in connection with the preparation and administration of this Agreement, (ii) all reasonable out-of-pocket expenses incurred by FGI, including the reasonable fees, charges and
disbursements of counsel for FGI and applicable taxes, in connection with any amendments, modifications or waivers of the provisions hereof, and (iii) all out-of-pocket expenses incurred by FGI, including the fees, charges and disbursements of
any counsel for FGI and all applicable taxes, in connection with the assessment, enforcement or protection of their rights in connection with this Agreement, including their rights under this Section, including all such out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect of the Guarantor Liabilities of such Guarantor. 

  

	 	(b)	 Each Guarantor shall indemnify FGI against, and hold FGI harmless from, any and all losses, claims, cost recovery actions, damages, expenses and
liabilities of whatsoever nature or kind and all reasonable out-of-pocket expenses and all 

  
 General 

  
 - 11 - 

 

	 	 applicable taxes to which FGI may become subject arising out of or in connection with (i) the execution or delivery of this Agreement and the
performance by such Guarantor of their obligations hereunder, (ii) any actual or prospective claim, litigation, investigation or proceeding relating to this Agreement or the Guarantor Liabilities, whether based on contract, tort, delict or any
other theory and regardless of whether FGI is a party thereto, (iii) any other aspect of this Agreement, or (iv) the enforcement of FGI’s rights hereunder and any related investigation, defence, preparation of defence, litigation and
enquiries; provided that such indemnity shall not, as to FGI, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and non-appealable
judgment to have resulted from the gross negligence (it being acknowledged that ordinary negligence does not necessarily constitute gross negligence) or wilful misconduct of or material breach of this Agreement by FGI. 

 

	 	(c)	 No Guarantor shall assert, and each Guarantor hereby waives, any claim against FGI (or any director, officer or employee thereof), on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement. Each Guarantor irrevocably renounces to any rights it may have to be
released from this Agreement under Article 2362 of the Civil Code of Québec and agrees to renew its guarantee hereunder at the request of FGI by executing such documents as FGI may request from time to time. 

 

	 	(d)	 All amounts due under this Section shall be payable to FGI for the benefit of FGI not later than three Business Days after written demand therefor.

  

	 	(e)	 The indemnifications set out in this Agreement shall survive the payout of the Seller Liabilities and the Guarantor Liabilities of each Guarantor.

 25. Additional Security.  This Agreement is in addition to, and not in substitution of, any and
all other Security previously or concurrently delivered by any Guarantor or any other Person to FGI, all of which other Security shall remain in full force and effect. 

26. Alteration.  None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise
modified except by a written instrument executed by FGI. 
 27. Severability.  Any provision of this Agreement that
is prohibited or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such prohibition or unenforceability and shall be severed from the balance of this Agreement, all without affecting the remaining
provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 
 28. Set-off.  If an Event of Default shall have occurred and be continuing, FGI is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set-off, compensate against or combine and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by FGI or any of its Affiliates and other

  

Guarantee 

  
 - 12 - 

 

 obligations at any time owing by FGI or any of its Affiliates to or for the credit or the account
of the Guarantor against or with any or all of the Guarantor Liabilities, irrespective of whether or not FGI shall have made any demand under any Transaction Document and although such obligations may be unmatured. The rights of FGI under this
Section are in addition to other rights and remedies (including other rights of set-off or combination) which FGI may have. 
 29.
Governing Law; Attornment.  This Agreement shall be governed by and construed in accordance with the Laws of the Province of Ontario. Without prejudice to the ability of FGI to enforce this Agreement in any other proper
jurisdiction, the Guarantors irrevocably submit and attorn to the non-exclusive jurisdiction of the courts of such Province. To the extent permitted by applicable Law, the Guarantors irrevocably waive any objection (including any claim of
inconvenient forum) that it may now or hereafter have to the venue of any legal proceeding arising out of or relating to this Agreement in the courts of such Province. Each Guarantor hereby irrevocably consents to the service of any and all process
in any such action or proceeding by the delivery of copies of such process to each Guarantor at the addresses as provided for pursuant to Section 23. Nothing in this Section affects the right of FGI to serve process in any manner permitted by
applicable Law. In any legal proceeding relating to this Agreement, the Guarantors agree not to assert that the Commodity Exchange Act applies to this Agreement or any Swap Obligation. 

30. Time.  Time is of the essence with respect to this Agreement and the time for performance of the obligations of
each Guarantor under this Agreement may be strictly enforced by FGI. The limitation period applicable to any proceeding relating to a claim under, in connection with, or with respect to this Agreement shall be solely as prescribed in sections
15-17 of the Limitations Act, 2002 (Ontario), and any other limitation period in respect of such claim (including that provided for in section 4 of the Limitations Act, 2002 (Ontario)) is extended accordingly. 

31. Interpretation.  The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “or” is disjunctive; the word “and” is conjunctive. The word “shall” is mandatory; the word “may” is permissive. Unless the context requires otherwise (a) any
definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented, restated or otherwise modified (subject to
any restrictions on such amendments, supplements, restatements or modifications set out herein), (b) any reference herein to any statute or any section thereof shall, unless otherwise expressly stated, be deemed to be a reference to such
statute or section as amended, replaced or re-enacted from time to time, (c) any reference herein to any Person shall be construed to include such Person’s successors and permitted assigns, (d) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, and (e) all references herein to Sections and Schedules shall
be construed to refer to Sections and Schedules to, this Agreement. Section headings are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting,

  

Guarantee 

  
 - 13 - 

 

 this Agreement. In accordance with the Property Law Act (British Columbia), the doctrine
of consolidation applies to this Agreement. 
 32. Successors and Assigns.  This Agreement shall enure to the
benefit of, and be binding on, each Guarantor and their successors and assigns, and shall enure to the benefit of, and be binding on, FGI and its successors and assigns. No Guarantor may assign this Agreement, or any of its rights or obligations
under this Agreement. FGI may assign this Agreement and any of their rights and obligations hereunder to any Person that replaces it in its capacity as such. If any Guarantor or FGI is an individual, then the term “Guarantor” or
“FGI”, as applicable, shall also include his or her heirs, administrators and executors. 
 33. Acknowledgment of
Receipt.  Each Guarantor acknowledges receipt of an executed copy of this Agreement. 
 34. Several
Liability.  Each Guarantor is severally (and not jointly or jointly and severally) liable for all obligations under this Agreement. 

35. Paramountcy.  In the event of any conflict or inconsistency between the provisions of this Agreement and the
provisions of the Master Facilities Agreement then, notwithstanding anything contained in this Agreement, the provisions contained in the Master Facilities Agreement shall prevail to the extent of such conflict or inconsistency and the provisions of
this Agreement shall be deemed to be amended to the extent necessary to eliminate such conflict or inconsistency. If any act or omission of the Guarantors are expressly permitted under Master Facilities Agreement but is expressly prohibited under
this Agreement, such act or omission shall be permitted. If any act or omission is expressly prohibited under this Agreement, but the Master Facilities Agreement does not expressly permit such act or omission, or if any act is expressly required to
be performed under this Agreement but Master Facilities Agreement does not expressly relieve the Guarantors from such performance, such circumstance shall not constitute a conflict or inconsistency between the applicable provisions of this Agreement
and the provisions of the Master Facilities Agreement. 
 36. Electronic Signature.  Delivery of an executed
signature page to this Agreement by any Guarantor by facsimile or other electronic form of transmission shall be as effective as delivery by such Guarantor of a manually executed copy of this Agreement by such Guarantor. 

[signatures on the following page] 

  

Guarantee 

  
 S-1 

 

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

			
	1328158 ONTARIO INC.
		
	 By:
	 	   /s/ Darren
Richardson

 
			
	 Name:
	 	 Darren Richardson

 
			
	 Title:
	 	 President & CEO

  

			
	 Signature Page
	  	
		  	Guarantee

  
 S-2 

 

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

			
	MAD CATZ INTERACTIVE, INC.
		
	 By:
	 	   /s/ Darren
Richardson

 
			
	 Name:
	 	 Darren Richardson

 
			
	 Title:
	 	 President & CEO

  

			
	 Signature Page
	  	
		  	Guarantee

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