Document:

Exhibit 10.14

 

Dated June 21, 2021

 

Servicios de Juego Online
S.A.U.

 

as Company

 

and

 

Codere Newco, S.A.U.

 

as Parent

 

SPONSORSHIP AND SERVICES AGREEMENT

 

This Sponsorship and Services Agreement (the
“Agreement”) is made as of the 21st day of June 2021, by and among:

 

		(1)	Servicios de Juego Online S.A.U., a company organized under the laws of the Kingdom of Spain (the
“Company”); and

 

		(2)	Codere Newco, S.A.U., a company organized under the laws of the Kingdom of Spain (the “Parent”).

 

This Agreement shall become effective
at the Merger Effective Time on the Closing Date, as such terms are defined in the Business Combination Agreement the (“Effective
Date”)

 

RECITALS

 

		(A)	Prior to the Effective Date, Parent was, indirectly through certain of its Subsidiaries, including the Company,
engaged in the business of online gaming, gambling, casino, slots, poker, bingo, sports betting, betting exchanges, lottery operations,
racing and pari-mutuel activities (such business, at any time, the “Online Gaming Business”).

 

		(B)	Pursuant to the Transaction Documents, as defined in the Business Combination Agreement (as defined below),
Codere Online Luxembourg, S.A., a public limited liability company (société anonyme) governed by the laws of the
Grand Duchy of Luxembourg (“Holdco”), will at, or prior to, the Effective Date, acquire all of the issued and outstanding
equity interests in the Company and the Company’s Subsidiaries.

 

		(C)	Parent is a party to the RM Sponsorship Agreement (as defined below) and the Parent Group may be a party
to other Sponsorship Agreements (as defined below) from time to time, and the Company desires to obtain, and Parent is willing to grant
or cause to be granted, as the case may be, certain rights to enable the Company to use certain of the Parent Group’s rights under
the Sponsorship Agreements.

 

		(D)	In connection with the closing of the transactions contemplated by the Business Combination Agreement, Parent
and the Company deem it to be appropriate and in their mutual best interests that the Parent Group grants certain sponsorship rights and
provides certain services to the Company Group pursuant to the terms and conditions set forth herein.

 

     

     

    

 

Now, therefore, in consideration of
the mutual covenants and agreements contained in this Agreement and other good and valuable consideration (the receipt and sufficiency
of which are hereby acknowledged), the parties hereto agree as follows:

 

		1.	Interpretation

 

		1.1.	Definitions

 

In this Agreement, except where the context
otherwise requires, the following terms will have the following meanings:

 

“Affiliate” means, with
respect to a Person, any other Person that, now or in the future, directly or indirectly, through one or more intermediaries, controls
or is controlled by such Person, or is under common control of a third Person. For the avoidance of doubt, a Person shall be deemed to
control another Person if such first Person possesses, directly or indirectly, the power to direct, or cause the direction of, the management
and policies of such other Person, whether through the ownership of voting securities, by contract or otherwise, all the foregoing in
accordance with, as and further set out in, Article 42 of the Spanish Commercial Code;

 

“Assessment Date” has
the meaning assigned thereto in Section ‎7.2.3 hereof;

 

“Beneficial Owner” shall
mean any Person who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise has or shares
(i) voting power which includes the power to vote, or to direct the voting of, such security, and/or (ii) investment power which includes
the power to dispose, or to direct the disposition of, such security, and/or (iii) the right to become the beneficial owner of such securities
as set forth in (i) or (ii) above (whether such right is exercisable immediately or only after the passage of time or the occurrence of
conditions) pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, rights,
warrants or options, or otherwise. The term “Beneficially Own” shall have a correlative meaning;

 

“Breach” has the meaning
assigned thereto in Section ‎4.3.1 hereof;

 

“Business Combination Agreement”
means the Business Combination Agreement, dated June 21, 2021, among Parent, the Company and the other parties thereto, regulating a series
of related transactions whereby, among other things, Holdco will acquire the Company and its Subsidiaries;

 

“Business Day” means
every day except a Saturday or Sunday, or a legal holiday in the City of New York, the Grand Duchy of Luxembourg or Madrid on which banking
institutions are authorized or required by Law to close;

 

“Calculation” has the
meaning assigned thereto in Section ‎10.3.2 hereof;

 

“Company” has the meaning
assigned thereto in the preamble;

 

“Company’s Executive Management”
means, with respect to the Company, the senior managers of the Company;

 

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“Company Group” means
Holdco, the Company and their direct and indirect Subsidiaries, including any Subsidiary of the Company formed or acquired after the Effective
Date, as described in Section ‎3.2;

 

“Company Indemnified Party”
has the meaning assigned thereto in Section ‎9.1 hereof;

 

“Discontinuation Costs”
means any costs incurred by Parent directly linked to the termination of this Agreement by the Company pursuant to Section ‎10.3
or discontinuation of any Services as requested by the Company pursuant to Section ‎11.1.1, including but not limited to
severance payments, third party break-up fees and third party fees related to the Service being discontinued.

 

“Effective Date” has
the meaning assigned thereto in the preamble;

 

“Expert” has the meaning
assigned thereto in Section ‎10.3.2 hereof;

 

“First Reset Period”
has the meaning assigned thereto in Section ‎7.2.2 hereof;

 

“Governing Body” means
(i) with respect to a corporation, the board of directors of such corporation, (ii) with respect to a limited liability company, the manager(s)
or managing member(s) of such limited liability company, (iii) with respect to a limited partnership, the board, committee or other body
of the general partner of such partnership that serves a similar function or the general partner itself (or if any such general partner
is itself a limited partnership, the board, committee or other body of such general partner’s general partner that serves a similar
function or such general partner’s partner) and (iv) with respect to any other Person, the body of such Person that serves a similar
function, and in the case of each of (i) through (iv) includes any committee or other subdivision of such body and any Person to whom
such body has delegated any power or authority, including any officer and managing director;

 

“Governing Instruments”
means (i) the certificate of incorporation and bylaws in the case of a corporation, (ii) the articles of formation and operating agreement
in the case of a limited liability company, (iii) the partnership agreement in the case of a partnership, and (iv) any other similar governing
document under which an entity was organized, formed or created and/or operates;

 

“Governmental Authority”
means any (i) international, national, supra-national (including the European Union), multinational, federal, state, regional, municipal,
local or other government, governmental or public department, central bank, court, tribunal, arbitral body, commission, board, bureau,
agency or instrumentality, domestic or foreign (ii) self-regulatory organization or stock exchange, (iii) subdivision, agent, commission,
board, or authority of any of the foregoing, or (iv) quasi-governmental or private body exercising any regulatory, expropriation or taxing
authority under or for the account of any of the foregoing;

 

“Holdco” has the meaning
assigned thereto in the preamble;

 

“Indemnified Party”
has the meaning assigned thereto in Section ‎9.3.1 hereof;

 

“Indemnifying Party”
has the meaning assigned thereto in Section ‎9.3.1 hereof;

 

“Initial Term” has the
meaning assigned thereto in Section ‎10.1 hereof;

 

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“Laws” means any and
all applicable (i) laws, constitutions, treaties, statutes, codes, ordinances, principles of common law and equity, rules, regulations
and municipal bylaws whether domestic, foreign or international, (ii) judicial, arbitral, administrative, ministerial, departmental and
regulatory judgments, orders, writs, injunctions, decisions, and awards of any Governmental Authority, and (iii) policies, practices and
guidelines of any Governmental Authority which, although not actually having the force of law, are considered by such Governmental Authority
as requiring compliance as if having the force of law, and the term “applicable,” with respect to such Laws and in the context
that refers to one or more Persons, means such Laws that apply to such Person or Persons or its or their business, undertaking, property
or securities at the relevant time and that emanate from a Governmental Authority having jurisdiction over the Person or Persons or its
or their business, undertaking, property or securities;

 

“Lien” means any lien,
security interest, mortgage, deeds of trust, pledge, adverse claim, reservation, lease, sublease, exclusive license, covenants, easements,
usufruct, right-of-way, servitudes, collateral assignments, conditional sale or other sale agreements, title retention agreements, hypothecations,
pre-emptive right, community property interest, collateral assignment, charge, option, warrant, rights of first offer, rights of first
refusal, proxies, voting trusts or similar agreements, or title or transfer restrictions under any equity holder or similar agreement
(including, without limitation, any restriction on the voting of any security, any restriction on the transfer of any security or other
asset, any restriction on the possession, exercise or transfer or any other restriction attributable of ownership of any asset);

 

“Loss” has the meaning
assigned thereto in Section ‎9.1 hereof;

 

“Net Gaming Revenue”
means all gross amounts wagered of the Company together with its Subsidiaries, less: (i) player wins, (ii) player bonuses, and (iii) promotional
bets;

 

“New Sponsorship Rights”
has the meaning assigned thereto in Section ‎2.1.3 hereof;

 

“Online Gaming Business”
has the meaning assigned thereto in the recitals;

 

“Other RM Sponsorship Rights”
has the meaning assigned thereto in Section ‎2.1.2 hereof;

 

“Parent” has the meaning
assigned thereto in the preamble;

 

“Parent Group” means
Parent and its Affiliates (other than any member of the Company Group);

 

“Parent Indemnified Party”
has the meaning assigned thereto in Section ‎9.2 hereof;

 

“Permit” means any consent,
license, approval, registration, permit, authorizations, registrations, findings of suitability, franchises, entitlements, communications,
waivers and exemptions granted by a Governmental Authority;

 

“Permitted Activity”
has the meaning assigned thereto in the Relationship and License Agreement;

 

“Person” means any natural
person, partnership, limited partnership, limited liability partnership, joint venture, syndicate, sole proprietorship, company or corporation
(with or without share capital), limited liability corporation, unlimited liability company, joint stock company, unincorporated association
or entity, business entity, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency,
Governmental Authority however designated or constituted and pronouns have a similarly extended meaning;

 

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“Quarter” means a calendar
quarter ending on the last day of March, June, September or December;

 

“Relationship and License Agreement”
means the Relationship and License Agreement dated as of the date hereof, among Parent and the Company;

 

“Reset Date” has the
meaning assigned thereto in Section ‎7.2.2 hereof;

 

“RM Marks and Brands Rights”
has the meaning assigned thereto in Section ‎2.1.1 hereof;

 

“RM Sponsorship Agreement”
means the Sponsorship Agreement (“Contrato de Patrocinio”), dated October 11, 2016, between Parent and Real Madrid
Club de Fútbol, as amended on April 10, 2019 and November 24, 2020, as attached as Exhibit B hereto and as further amended
from time to time.

 

“RM Sponsorship Rights”
has the meaning assigned thereto in Section ‎2.1.2 hereof;

 

“Services” has the meaning
assigned thereto in Section ‎4.1 hereof;

 

“Services Fees” has
the meaning assigned thereto in Section ‎7.2.1 hereof;

 

“Services Provider”
means Parent, any member of the Parent Group and any other entity or individual that Parent has arranged to provide the Services to any
Services Recipient;

 

“Services Recipient”
means any member of the Company Group that receives Services from a Services Provider pursuant to this Agreement;

 

“Sponsorship Agreement”
means the RM Sponsorship Agreement and such other sponsorship agreements entered into by the Parent Group from time to time governing
the terms of any Sponsorship Rights;

 

“Sponsorship Fees” has
the meaning assigned thereto in Section ‎7.1 hereof;

 

“Sponsorship Rights”
has the meaning assigned thereto in Section ‎2.1.3 hereof;

 

“Sublicensee” has the
meaning assigned thereto in Section ‎2.2 hereto;

 

“Subsidiary” means,
with respect to any Person, any other Person that, now or in the future, is directly or indirectly controlled by such Person, including
(i) any trust in which such Person holds all of the beneficial interests and (ii) any partnership, limited liability company or similar
entity in which such Person holds all of the interests other than the interests of any general partner, managing member or similar Person.
For the avoidance of doubt, a Person shall be deemed to control another Person if such first Person possesses, directly or indirectly,
the power to direct, or cause the direction of, the management and policies of such other Person, whether through the ownership of voting
securities, by contract or otherwise, all the foregoing in accordance with, as and further set out in, Article 42 of the Spanish Commercial
Code;

 

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“System” means computer,
software, communications or information networks or systems of any party or its Affiliates, and any related documentation.

 

“Term” has the meaning
assigned thereto in Section ‎10.1 hereof;

 

“Territory” means any
jurisdiction in which (i) any member of the Company Group conducts the Company Group’s Online Gaming Business from time to time,
(ii) the Governing Body of Holdco has expressly decided to expand Company Group’s Online Gaming Business, or (iii) the Company Group
has taken actual formal steps towards obtaining the required Permits to conduct the Online Gaming Business in such jurisdiction. For the
avoidance of doubt, as at the date of this Agreement, the “Territory” means Spain, Italy, Mexico, Brazil, United States of
America, Colombia, Panama, Argentina, Malta and Israel;

 

“Third Party Claim”
has the meaning assigned thereto in Section ‎9.3.2 hereof.

 

		1.2.	Headings

 

The inclusion of headings in this Agreement
are for convenience of reference only and will not affect the construction or interpretation hereof.

 

		1.3.	Interpretation

 

Unless otherwise expressly provided for
herein, this Agreement shall be interpreted in accordance with (i) the general interpretation and construction provisions included in
Sections 1,281, 1,282, 1,283, 1,284, 1,285 and 1,286 of the Spanish Civil Code (Código Civil); and (ii) the specific rules
of construction set forth below:

 

		1.3.1.	words importing the singular shall include the plural and vice versa, words importing gender shall include
all genders or the neuter, and words importing the neuter shall include all genders;

 

		1.3.2.	the words “include”, “includes”, “including”, or any variations thereof,
when following any general term or statement, are not to be construed as limiting the general term or statement to the specific items
or matters set forth or to similar items or matters, but rather as referring to all other items or matters that could reasonably fall
within the broadest possible scope of the general term or statement;

 

		1.3.3.	references to any Person include such Person’s successors and permitted assigns;

 

		1.3.4.	any reference to a statute, regulation, policy, rule or instrument shall include, and shall be deemed to
be a reference also to, all amendments made to such statute, regulation, policy, rule or instrument and to any statute, regulation, policy,
rule or instrument that may be passed which has the effect of supplementing or superseding the statute, regulation, policy, rule or instrument
so referred to;

 

		1.3.5.	any reference to this Agreement or any other agreement, document or instrument shall be construed as a reference
to this Agreement or, as the case may be, such other agreement, document or instrument as the same may have been, or may from time to
time be, amended, varied, replaced, amended and restated, supplemented or otherwise modified;

 

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		1.3.6.	in the event that any day on which any amount is to be determined or any action is required to be taken hereunder
is not a Business Day, then such amount shall be determined or such action shall be required to be taken at or before the requisite time
on the next succeeding day that is a Business Day; and

 

		1.3.7.	except where otherwise expressly provided, all amounts in this Agreement are stated and shall be paid in
euro.

 

		2.	Grant of License over Sponsorship Rights

 

		2.1.	Sponsorship Rights

 

		2.1.1.	Subject to the terms and conditions of this Agreement and the RM Sponsorship Agreement, Parent hereby grants
to the Company, and the Company hereby accepts, an exclusive (except as otherwise set forth herein and without prejudice to Parent’s
right to engage in any Permitted Activity) and non-transferable license and authority to use any and all marks, names, images, designations,
anthems, photographs and brands set forth in the RM Sponsorship Agreement and any marks, names, images, designations, anthems, photographs
and brands which in the future may be incorporated into the RM Sponsorship Agreement (the “RM Marks and Brands Rights”)
within the Territory (subject to any further geographic limitations set forth in the RM Sponsorship Agreement), in connection with the
operation of the Company Group’s Online Gaming Business. The Company’s license to each of the RM Marks and Brands Rights shall
remain in effect until the earlier of (i) the expiration of the Term or (ii) the termination of each such RM Marks and Brands Rights under
the RM Sponsorship Agreement.

 

		2.1.2.	Subject to the terms and conditions of this Agreement, Parent and the Company shall in good faith negotiate
and agree on the terms and conditions of an exclusive (except as otherwise set forth herein and without prejudice to Parent’s right
to engage in any Permitted Activity) and non-transferable license and authority to use any and all of Parent’s rights that are licensable
under the RM Sponsorship Agreement, from time to time, by Parent to the Company (collectively, the “Other RM Sponsorship Rights”
and, together with the RM Marks and Brands Rights, the “RM Sponsorship Rights”), within the Territory (subject to any
further geographic limitations set forth in the RM Sponsorship Agreement), in connection with the operation of the Company Group’s
Online Gaming Business. The Company’s license to each of the Other RM Sponsorship Rights shall remain in effect until the earlier
of (i) the expiration of the Term or (ii) the termination of each such Other RM Sponsorship Rights under the RM Sponsorship Agreement.

 

		2.1.3.	Subject to the terms and conditions of this Agreement and the relevant Sponsorship Agreement, Parent and
the Company shall in good faith negotiate and agree on the terms and conditions of the assignment or license of any new sponsorship rights,
or otherwise the right to use any new sponsorship rights, under any Sponsorship Agreements entered into by the Parent Group from time
to time after the Effective Date that permit the assignment or license of any sponsorship rights to any member of the Company Group, or
the right to use any sponsorship rights by any member of the Company Group, including the applicable Sponsorship Fees payable as consideration
for the assignment, license or right to use of such new sponsorship rights (the “New Sponsorship Rights” and, together
with the RM Sponsorship Rights, the “Sponsorship Rights”). Parent’s assignment or license of each New Sponsorship
Right shall remain in effect until the earlier of (i) the expiration of the Term or (ii) the termination of each such New Sponsorship
Right under the relevant Sponsorship Agreement. Parent shall specifically authorize the Company in writing to use any New Sponsorship
Rights pursuant to a written notice that shall be acknowledged and agreed by the Company in the form of Exhibit A hereto.

 

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		2.2.	Sublicensing

 

The Company shall have no right to sublicense
the Sponsorship Rights without Parent’s prior written approval, which approval shall not be unreasonably withheld, conditioned or
delayed, except that the Company may sublicense the Sponsorship Rights to a member of the Company Group (each, a “Sublicensee”)
without requiring Parent’s prior written approval. Any Sublicensee shall have no right to further sublicense such right except to
another member of the Company Group. The Company shall (i) be responsible for ensuring that each Sublicensee shall be in strict compliance
with the terms and conditions of this Agreement and the relevant Sponsorship Agreement and (ii) assume all responsibilities for any breach
of any terms or conditions of this Agreement or the relevant Sponsorship Agreement by each Sublicensee and for any acts and omissions
of each Sublicensee relating to the Sponsorship Rights. Any sublicense granted to any entity that ceases to be a member of the Company
Group during the Term of this Agreement shall terminate immediately upon such cessation unless Parent and the Company agree otherwise.

 

The parties hereto acknowledge that, for
the avoidance of doubt, any Subsidiary of the Company formed or acquired after the Effective Date that is not a Subsidiary of the Company
on the Effective Date may become an Sublicensee of the Company under this Agreement. In the event that such Subsidiary has a contract
with an Affiliate of Parent for the licensing of certain or all of the Sponsorship Rights and such contract is not terminated at the time
of the acquisition of the Subsidiary by the Company Group, (i) the parties to such contract shall terminate such contract with respect
to the Sponsorship Rights and (ii) the Subsidiary shall automatically become a Sublicensee with respect to the Sponsorship Rights that
are expressly covered by the scope of such contract.

 

		2.3.	Use of Sponsorship Rights

 

The Company undertakes to Parent during
the Term, and without limiting its other obligations under this Agreement (i) to use the Sponsorship Rights in accordance with the terms
and conditions of the relevant Sponsorship Agreement and this Agreement (including any geographic, field and time limitations), (ii) not
to use the Sponsorship Rights in any manner which may prejudice or would be reasonably likely to prejudice the rights of Parent in and
to the Sponsorship Rights, (iii) to give any information as to its use of the Sponsorship Rights which Parent may reasonably require,
and (iv) to protect the reputation and goodwill of the Sponsorship Rights and not conduct the Company Group’s Online Gaming Business
in any way that may adversely reflect upon such reputation or be contrary to good business practice or any applicable Law.

 

Parent agrees that, upon request it will,
at any time without charging a fee to the Company but at the Company’s expense for any reasonable costs incurred, furnish all necessary
documentation relating to or supporting Parent’s and/or the Company’s rights to the Sponsorship Rights and to assist, sign
and deliver all documents, and do all acts which may be necessary from time to time for the Company’s or any Sublicensee’s
use of the Sponsorship Rights under the relevant Sponsorship Agreement.

 

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		3.	Appointment of Parent

 

		3.1.	Appointment and Acceptance

 

		3.1.1.	Subject to and in accordance with the terms, conditions and limitations in this Agreement, the Company hereby
appoints Parent to provide or arrange for other Services Providers to provide the Services to the Services Recipients. This appointment
will be subject to the express terms of this Agreement and to each Services Recipient’s Governing Body’s supervision of Parent’s
or other Services Providers’ performance of its obligations under this Agreement.

 

		3.1.2.	Parent hereby accepts the appointment provided for in Section ‎3.1.1 and agrees to act in such capacity
and to provide or arrange for other Services Providers to provide the Services to the Services Recipients upon the terms, conditions and
limitations in this Agreement.

 

		3.1.3.	Parent and the Company agree and acknowledge that the purpose of the provision of the Services is to assist
the Company Group in operating the Online Gaming Business in a manner that is consistent with the operation of the Online Gaming Business
prior to the Effective Date.

 

		3.2.	Other Services Recipients

 

The parties hereto acknowledge that any
Subsidiary of the Company formed or acquired after the Effective Date that is not a Services Recipient on the Effective Date may become
a Services Recipient under this Agreement, as described below. In the event that any such addition results in an amendment of the scope
of the Services, such amendment shall be effectuated as provided in this Agreement.

 

The parties hereto agree that Parent will
assume the provision of the Services to any Subsidiary of the Company formed or acquired after the Effective Date, in addition to the
Services described in Section ‎4.1. In the event that such Subsidiary has a contract with an Affiliate of Parent for the provision
of certain or all of the Services and such contract is not terminated at the time of the acquisition of the Subsidiary by the Company
Group, Parent will only assume the provision of the Services that are not expressly covered by the scope of such contract.

 

		3.3.	Subcontracting and Other Arrangements

 

Parent may subcontract to any other Services
Provider or arrange for the provision of any or all of the Services to be provided by it under this Agreement by any other Services Provider
(at no additional cost to the Services Recipients), and the Company hereby consents to any such subcontracting or arrangement; provided
that (i) Parent shall remain responsible to the Services Recipients for any Services provided by such other Services Provider, and (ii)
the Services Provider is not a competitor or an Affiliate of a competitor of the Company. Parent shall ensure that (i) the Services Provider
complies with the Parents’ restrictions, obligations and undertakings hereunder in respect of such Services, and (ii) the obligations
with respect to the standards of services set forth in this Agreement are satisfied with respect to any Service provided by a Services
Provider, and provided further that such subcontract or arrangement does not cause any material disruption to the delivery of Services.

 

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		4.	Services and Powers of Parent

 

		4.1.	Services

 

Commencing on the Effective Date, Parent
will provide, or arrange for the provision by other Services Providers (subject to the Company’s prior written approval of such
other Services Providers that are not members of the Parent Group) of, and will have the power and authority to provide or arrange for
the provision by other Services Providers of, the following services (the “Services”) to the Services Recipients:

 

		4.1.1.	Internal Audit Services

 

		(i)	Conducting traditional audits (financial and operational)

 

		(ii)	Conducting information technology audits based on the international
COBIT standard (at least one review per year)

 

		(iii)	Centralizing information technology support and maintenance of
software used for the documentation of such audits

 

		(iv)	Monitoring audit processes

 

		4.1.2.	Communication Services

 

		(i)	Preparing and distributing press releases

 

		(ii)	Preparing releases for internal distribution

 

		(iii)	Compiling actions and milestones of the Company Group for purposes
of the integrated report of the Company Group, according to applicable Law

 

		(iv)	Preparing and distributing a daily press service with the most
relevant news from, and for, the Company Group

 

		(v)	Monitoring performance of the CSR plan by the business units

 

		(vi)	Managing media inquiries

 

		(vii)	Monitoring social networks and managing user inquiries, including
internal channeling thereof

 

		(viii)	Translating relevant communications into English

 

		(ix)	Maintaining corporate consultation services, including, but not
limited to, the Company’s website (including investor relations section) and intranet

 

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		4.1.3.	Legal Services

 

		(i)	Legal Advice: providing legal advice in connection with the business
and operations of the Company and the Company Group, including, but not limited to, drafting contracts and general legal advice with
respect thereto, and advice regarding the Company Group’s operations and reporting by Holdco as a publicly-listed entity

 

		(ii)	Compliance: updating and implementing internal regulations in
connection with anti-money laundering, criminal liability, anticorruption and fraud

 

		(iii)	Regulatory reporting

 

		4.1.4.	Financial Management Services

 

		(i)	Management Control Services: Performing periodic operational and financial monitoring in order to identify
and analyze deviations from established targets. This Services subset includes:

 

		(a)	Providing support to the Services Recipients and their business units in connection with financial and management
planning

 

		(b)	Providing support in the budgeting process

 

		(c)	Providing analysis and monitoring services in connection with the following tasks:

 

		·	Reconciliation between data provided by accounting databases/systems and operational management reports

 

		·	Payment control

 

		·	Corporate billing

 

		·	Capital expenditures, key performance indicators, management adjustments and reconciliation of results

 

		(ii)	Financial supervision and support tasks

 

		(a)	Providing support services for internal reporting to prepare consolidated information on the business units

 

		(b)	Managing guarantees, including bank guarantees, as required to operate gaming licenses

 

		(iii)	Corporate Tax Management: providing tax advisory services related
to the operation of the Services Recipients and their business units, and support in connection with tax structuring

 

		(iv)	Financial Projects Management: Implementing and developing new
financial projects within the Company Group to improve financial processes, such as a project for the automation of invoice processing
(including receipt of the invoice by the supplier via email or physical means, codification, approval and recording of such invoices)

 

		(v)	Investor relations

 

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		4.1.5.	Human Capital Services

 

		(i)	Payroll services

 

		(a)	Managing the retribution model (support in salary reviews, internal equity analysis, external competitiveness
analysis)

 

		(b)	Preparing payroll and social security payments and management of labor relations for entities of the Company
Group based in Spain

 

		(c)	Managing employee targets and objectives (including providing support according to corporate policy, alignment
with the Company Group’s targets objectives and review and supervision of targets and objectives)

 

		(d)	Managing expatriations / transfers of personnel from Spain to international locations and vice-versa

 

		(ii)	Recruiting

 

		(a)	Providing support services in connection with the organizational structure (including SAP support in Spain
and job descriptions)

 

		(b)	Monitoring and coordinating the recruiting plan, hiring, information gathering for the DPT, preparing organizational
charts and budget monitoring.

 

		4.1.6.	Corporate Security Support Services. Providing support services in connection with fraud and compliance
investigations and processes

 

		4.1.7.	Corporate Development Services. Providing financial and strategic advisory services in connection
with corporate finance projects (sourcing corporate funding, seeking joint venture and mergers and acquisitions opportunities and other
inorganic growth) strategic projects and market analysis

 

		4.1.8.	Office Space. Providing access to, and non-exclusive use of, certain shared office space owned, rented
or otherwise used by the Parent Group from time to time

 

		4.1.9.	Miscellaneous. Such other Services of the type and nature
appropriate for a publicly listed entity in connection with the Online Gaming Business, which the Company Group may reasonably request
from time to time

 

Parent shall at all times comply with all
obligations under Spanish and other applicable securities Laws and other Laws applicable to the Company Group and the Online Gaming Business
and in particular, in relation to protection of price sensitive and other material non-public information, including the establishment
of separated areas and internal barriers and controls to ensure due compliance with such regulations. Parent shall at all times comply
with any Laws related to the privacy or security of “personal information” (or any equivalent term (e.g., “personal
data” or “personally identifiable information” or “PII”) provided by applicable Law), including the EU General
Data Protection Regulation 2016/679 (as amended and replaced from time to time) and including, to the extent necessary, by entering into
a customary data processing addendum in relation to any processing of such personal information.

 

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		4.2.	Limited License to Intellectual Property and Software

 

		4.2.1.	Each party hereby grants to the other party a non-exclusive, royalty-free license to any intellectual property
or software owned by the granting party and reasonably necessary for and used in providing or receiving the Services for the limited purpose
of providing or receiving such Services, as applicable. As between the parties hereto, each party shall remain the sole and exclusive
owner of all right, title and interest in and to all intellectual property (including all derivative works, modifications and enhancements
thereof) owned by such party that is made available to the other party in connection with this Section ‎4.2.1.

 

		4.3.	Access to Systems

 

		4.3.1.	As a result of the provision of the Services, certain employees of the Services Provider may receive access
to the Services Recipient’s Systems. The Services Provider shall access and use only those Systems of the Services Recipient for
which it has been granted the right to access and use. The Services Provider’s right to access and use is provided for the limited
purpose of supporting the Services provided hereunder. To the extent the Services Provider is granted access to the Services Recipient’s
Systems, the Services Provider (i) shall use such Systems internally and for their intended purpose only, shall not distribute, publish,
transfer, sublicense or in any manner make such Systems available to other organizations or Persons, and shall not act as a service bureau
or consultant in connection with such Systems; (ii) shall comply with all of the Services Recipient’s security regulations to the
extent such security regulations have been provided to the Services Provider and maintain reasonable security measures to protect the
systems of the Services Recipient; and (iii) shall not tamper with, circumvent or intentionally compromise any security or audit measures
employed by the Services Recipient. The Services Provider shall ensure that only those employees acting on its behalf who are specifically
authorized to have access to the Services Recipient’s Systems gain such access and use commercially reasonable efforts to prevent
unauthorized access or use, destruction, alteration or loss of data, information or software contained therein (a “Breach”),
including notifying its employees who might have access to the Services Recipient’s Systems of the restrictions set forth in this
Agreement and of the security regulations. If the Services Provider becomes aware of any Breach that would reasonably be expected to impact
the Services Recipient’s Systems or the Services, the Services Provider shall notify the Services Recipient in a maximum period
of seventy two (72) hours since the occurrence of the Breach and undertake reasonable efforts to mitigate such Breach in coordination
with the Services Recipient.

 

		4.3.2.	Any information system, software, computer network, database
or data file owned, licensed, leased or provided by the Services Recipient or any of its Affiliates that is used by the Service Provider
or any of its Affiliates in connection with the provision of any Service, each as modified, maintained or enhanced from time to time
by the Services Recipient, any of its Affiliates or any relevant third party shall remain the sole and exclusive property of the Services
Recipient, its Affiliates or third party.

 

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		4.4.	Supervision of Services

 

Services provided by Servicers Providers
shall, at all times, be subject to the supervision of the Company’s Executive Management. Notwithstanding this, under no event or
circumstance shall any Services Provider or any other member of the staff of the Parent Group be considered as an employee of the Company
Group. Nothing herein shall be construed as creating an employer/employee relationship between the Company Group and any Services Provider
or any other member of the Parent Group or their respective staff or placing the parties hereto in a partnership or joint venture relationship.
The Services Provider and any other member of the Parent Group and their respective staff will not be eligible to receive any employee
benefits from the Company Group. The Parent Group will maintain the obligation to pay any and all taxes connected with any compensation
paid hereunder.

 

Parent shall be responsible for ensuring
that labor relations are not created in connection with the provision of the Services or otherwise under any Laws. Parent shall have,
or shall ensure that the relevant Services Provider has, the sole responsibility to employ, pay, supervise, manage, control, direct and
discharge all of the personnel used in its provision of Services hereunder. Except as may otherwise be expressly provided in this Agreement,
Parent or the relevant Services Provider, as applicable, may terminate the employment of any employee involved in the provision of the
Services without obtaining the consent of the relevant Services Recipient.

 

		4.5.	Standard of Service

 

		4.5.1.	Parent covenants and agrees at all times to perform, or cause to perform, the Services (a) in a manner that
is consistent, in all material respects, in nature, scope, quality and timeliness with how the applicable Services were provided to the
Online Gaming Business during the twelve-month period prior to the Effective Date and (b) with the degree of care, diligence and skill
that a professional services provider would exercise in comparable circumstances. Upon written notice to the Company, Parent may modify,
change or enhance the manner, methodology, systems or applications used to provide any Service to the Services Recipients (but not the
quality of such Service or the standard of care used to provide such Service) to the extent that such change does not have a material
adverse effect on the standard of service set forth in this Section ‎4.5.

 

		4.5.2.	In case of an interruption or failure of any Service, Parent shall respond (and shall cause its Affiliates
to respond) promptly and work diligently to resolve the issue causing the interruption or failure of any such Service or to find a replacement
for any such Service in coordination with the Services Recipient.

 

		4.6.	Restrictions on Parent

 

		4.6.1.	Parent shall, and shall cause any other Services Provider to, refrain from taking any action that is not
in compliance with or would violate any Laws or that otherwise would not be permitted by the Governing Instruments of the Services Recipients.
If Parent or any Services Provider is instructed to take any action that is not in such compliance by a Services Recipient’s Governing
Body, such Person will promptly notify such Governing Body and the Company’s Executive Management of its judgment that such action
would not comply with or violate any such Laws or otherwise would not be permitted by such Governing Instrument.

 

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		4.6.2.	In performing its duties under this Agreement, each member of the Parent Group shall be entitled to rely
in good faith on qualified experts, professionals and other agents (including on accountants, appraisers, consultants, legal counsel and
other professional advisors) and shall be permitted to rely in good faith upon the direction of the Company’s Executive Management
to evidence any approvals or authorizations that are required under this Agreement. Additionally, each member of the Parent Group shall
use the Company’s policies and the existing decision approval system and will follow all the Company corporate policies and processes.
All references in this Agreement to the Services Recipients or Governing Body for the purposes of instructions, approvals and requests
to Parent will refer to the Governing Body.

 

		4.7.	Parent and Employees

 

Parent shall arrange,
or shall arrange for another member of the Parent Group to arrange, for such qualified personnel and support staff to be available to
carry out the Services. Such personnel and support staff shall devote such of their time to the provision of the Services to the Services
Recipients as the relevant member of the Parent Group reasonably deems necessary and appropriate in order to fulfill its obligations hereunder
but always under the direction of the Company’s Executive Management. Part of the personnel and support staff will have as their
primary responsibility the provision of the Services to the Services Recipients or be dedicated exclusively to the provision of the Services
to the Services Recipients.

 

		4.8.	Information and Records

 

		4.8.1.	Books and Records

 

Parent shall, or shall cause any other member
of the Parent Group to, as applicable, maintain proper books, records and documents documenting the Services provided, in conformity in
all material respects with all requirements of applicable Laws.

 

		4.8.2.	Examination of Records by the Services Recipients

 

The relevant member of the Parent Group will
make available to the Services Recipients and their authorized representatives, for examination during normal business hours on any Business
Day, all books, records and documents required to be maintained under Section ‎4.8.1 hereof. In addition, the Parent Group will
make available to the Services Recipients or their authorized representatives such financial and operating data in respect of the performance
of the Services under this Agreement as may be in existence and as the Services Recipients or their authorized representatives will from
time to time reasonably request, including for the purposes of conducting any audit in respect of expenses of the Services Recipients
or other matters necessary or advisable to be audited in order to conduct an audit of the financial affairs of the Services Recipients.
Any examination of records will be conducted in a manner which will not unduly interfere with the conduct of the Parent Group’s
business in the ordinary course.

 

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		4.8.3.	Access to Information by Parent Group

 

The Company shall,
and shall cause the other Services Recipients to:

 

		(i)	grant, or cause to be granted, to the Parent Group full access to all documentation and information reasonably
necessary in order for the Parent Group to perform its obligations, covenants and responsibilities pursuant to the terms hereof and to
enable the Parent Group to provide the Services; and

 

		(ii)	provide, or cause to be provided, all documentation and information as may be reasonably requested by any
member of the Parent Group, and promptly notify the appropriate member of the Parent Group of any material facts or information of which
the Services Recipients are aware, including any known, pending or threatened suits, actions, claims, proceedings or orders by or against
any member of the Company Group before any Governmental Authority, that may affect the performance of the obligations, covenants or responsibilities
of the Parent Group pursuant to this Agreement, including maintenance of proper financial records.

 

4.8.4.     
Additional Information

 

The parties hereto acknowledge and agree
that conducting the activities and providing the Services contemplated herein may have the incidental effect of providing additional information
which may be utilized with respect to, or may augment the value of, business interests and related assets in which any of the Services
Providers or any of its Affiliates has an interest and that, subject to compliance with this Agreement, none of the Services Providers
or any of their respective Affiliates will be liable to account to the Services Recipients with respect to such activities or results;
provided, however, that the relevant Services Provider will not (and will cause its Affiliates not to), in making any use of such additional
information, do so in any manner that the relevant Services Provider or its Affiliates knows, or ought reasonably to know, would cause
or result in a breach of any confidentiality provision of agreements to which any Services Recipient is a party or is bound.

 

		5.	Cooperation

 

The parties hereto agree to use their best
efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary or desirable under applicable
Laws to consummate or implement expeditiously the transactions contemplated by this Agreement, including filings with appropriate Governmental
Authorities and the receipt of any necessary governmental approvals in respect of the transactions contemplated hereby.

 

		6.	Independent Contractor, No Partnership or Joint Venture

 

The parties hereto acknowledge that Parent
is providing or arranging for the licensing of the Sponsorship Rights and the provision of the Services hereunder as an independent contractor
and that the Services Recipients and Parent are not partners or joint venturers with or agents of each other, and nothing herein will
be construed so as to make them partners, joint venturers or agents or impose any liability as such on any of them as a result of this
Agreement; provided however that nothing herein will be construed so as to prohibit Parent and the Company, any Sublicensees and the Services
Recipients from embarking upon an investment together as partners, joint venturers or in any other manner whatsoever.

 

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		7.	Fees and Expenses

 

		7.1.	Sponsorship Fees

 

The Company and Parent
shall negotiate and agree in good faith on the fees payable by the Company as consideration for the licensing of the Sponsorship Rights
from time to time (the “Sponsorship Fees”). If the Company and Parent are unable to reach an agreement on the Sponsorship
Fees payable by the Company at any given time as consideration for the licensing of any Sponsorship Rights under any Sponsorship Agreement,
Parent shall have the right, after ten (10) Business Days’ prior written notice thereof to the Company, to suspend the Company’s
and any Sublicensee’s use of all or any portion of the Sponsorship Rights under such Sponsorship Agreement until such time as Parent
and the Company agree on such Sponsorship Fees.

 

		7.2.	Services Fees

 

		7.2.1.	Parent shall receive from the Company as consideration for the Services, the fees set forth in this Section
‎7.2 (the “Services Fees”).

 

		7.2.2.	For the period from the Effective Date until December 31, 2022 (such time period, the “First Reset
Period” and such date, the “Reset Date”), the Company shall pay, on behalf of the Services Recipients, to
Parent for the Services provided by the Services Providers a cash amount in euro equal to 0.75% of the Net Gaming Revenue.

 

		7.2.3.	At least ninety (90) days prior to the Reset Date and thereafter
at least ninety (90) days prior to each anniversary of the Reset Date (each such date, an “Assessment Date”), Parent
and the Company shall negotiate and agree in good faith on the Services Fees payable by the Company for the next-succeeding calendar
year as consideration for the provision of the Services during such calendar year, which shall take into account the then-current costs
of providing such Services and the level of Services expected to be provided hereunder until the next Reset Date. In the event that the
Company and Parent are unable to agree on the Services Fees payable by the Company for the next-succeeding calendar year by the time
of the Reset Date, the then-applicable Services Fees shall remain in effect until the first anniversary of such Reset Date, and either
the Company or Parent may terminate this Agreement by providing written notice to the other party within three (3) months of such Reset
Date, provided that such termination shall not be effective earlier than the date that is three (3) months after such written notice
is provided by the terminating party to the other party.

 

		7.3.	Computation and Payment of Quarterly Fees Amount

 

The Company shall deliver
to Parent each Quarter a detailed written statement of the Sponsorship Fees and Services Fees due to Parent for the prior Quarter (or,
in the case of the first completed Quarter after the Effective Date, partial Quarter), which, in the case of the Services Fees, shall
be based on the Net Gaming Revenue for such Quarter (or partial Quarter). The Company will compute the Sponsorship Fees and Services Fees
for each Quarter as soon as practicable following the end of the Quarter with respect to which such payment is due, but in any event no
later than forty-five (45) Business Days following the end of such Quarter and will send the corresponding detailed written statement
of the Sponsorship Fees and Services Fees due to the Parent. The Company Group shall remit the corresponding payment within fifteen (15)
days after the statement date. Any dispute relating to the computation of the Sponsorship Fees or Services Fees for any Quarter shall
be resolved in accordance with Section ‎11.4 hereof. Parent shall have the right at
its sole cost and expense to cause an independent certified public accountant firm reasonably acceptable to the Company to examine and
inspect the books and records of the Company and any Sublicensees or Services Recipients for the purpose of determining the accuracy of
statements rendered by the Company. Such inspection shall only be permitted during the Company’s normal business hours.

 

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		7.4.	Expenses

 

The Company will bear any expenses in connection
with the licensing and use of the Sponsorship Rights. Parent will bear any expenses in connection with the provision of the Services.

 

		8.	Representations and Warranties of Parent and the Company

 

		8.1.	Representations and Warranties of Parent

 

Parent hereby represents and warrants to
the Company that, as of the date hereof and as of the Effective Date:

 

		8.1.1.	it is validly organized and existing under the Laws of the Kingdom of Spain;

 

		8.1.2.	Exhibit B contains a true and complete copy of the RM Sponsorship Agreement and of all of its addendums
as of the date hereof. The RM Sponsorship Agreement is valid, binding, in force and enforceable in accordance with its terms;

 

		8.1.3.	it is the lawful beneficiary of the RM Sponsorship Rights under the RM Sponsorship Agreement, free and clear
of all Liens, and has the full right, ability and authority to license to the Company and any Sublicensees all of the rights licensed
to the Company hereunder, and the Company will have the ability to use and exploit the RM Sponsorship Rights as set forth hereunder, without
breaching any agreement to which Parent is a party;

 

		8.1.4.	to the knowledge of Parent, the use of the RM Sponsorship Rights by the Company and its Sublicensees in accordance
with this Agreement shall not infringe or otherwise violate any third-party intellectual property rights;

 

		8.1.5.	there are no actions, suits, legal proceedings or formal investigations pending, or, to the knowledge of
Parent, threatened, against or affecting Parent before any court, arbitrator or Governmental Authority which might adversely affect or
impair the right of Parent to license the RM Sponsorship Rights granted herein or otherwise perform its obligations under this Agreement;

 

		8.1.6.	there are no pending or existing, or to the knowledge of Parent, threatened, adverse orders, judgments, legal
proceedings or actions, formal investigations, written claims or consent agreements, and, no Liens against Parent regarding or relating
to the RM Sponsorship Rights;

 

		8.1.7.	it, or any other Services Provider, as applicable, holds, and shall hold, such Permits as are necessary to
perform its obligations hereunder and is not aware of, or shall inform the Company promptly upon knowledge of, any reason why such Permits
might be cancelled;

 

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		8.1.8.	it, or the relevant other Services Provider, has sufficient title to use and to license all intellectual
property and software required for the provision of the Services as set forth in Section ‎4.2.1;

 

		8.1.9.	it, or the relevant other Services Provider, has the ability to provide the Services as set forth hereunder,
without violating the rights of any Person (including intellectual property rights) or breaching any agreement to which Parent is a party;

 

		8.1.10.	where in the context of the provision of Services, Parent is required to use intellectual property and/or
software, the license contracts whereby Parent uses such intellectual property and/or software allow for the sublicense of such intellectual
property and/or software to the Company Group pursuant to Section ‎4.2.1;

 

		8.1.11.	all current and former employees of Parent have executed written agreements with Parent assigning to Parent
any and all intellectual property rights related to the Services;

 

		8.1.12.	Parent has not received any threat, demand or notice of claim from any person, whether in writing or otherwise,
asserting that the Parent’s provision of the Services constitutes any infringement, interference, violation, misappropriation, breach
or wrongful use of the intellectual property rights of any other person. Parent is not a party to any legal proceeding or outstanding
decree, order, judgment, agreement or stipulation restricting in any manner the use, transfer, or licensing by the Parent of any rights;

 

		8.1.13.	it has the power, capacity and authority to enter into this Agreement and to perform its obligations hereunder;

 

		8.1.14.	it has taken all necessary action to authorize the execution, delivery and performance of this Agreement;

 

		8.1.15.	the execution and delivery of this Agreement by it and the performance by it of its obligations hereunder
do not and will not contravene, breach or result in any default under its Governing Instruments, or under any mortgage, lease, agreement
or other legally binding instrument, Permit or applicable Law to which it is a party or by which it or any of its properties or assets
may be bound, except for any such contravention, breach or default which would not have a material adverse effect on the business, assets,
financial condition or results of operations of Parent;

 

		8.1.16.	no authorization, consent or approval, or filing with or notice to any Person is required in connection with
the execution, delivery or performance by it of this Agreement;

 

		8.1.17.	this Agreement constitutes a valid and legally binding obligation, enforceable against it in accordance with
its terms, subject to (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other Laws of general
application limiting the enforcement of creditors’ rights and remedies generally and (ii) general principles of equity, including
standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable
remedies, whether such principles are considered in a proceeding at law or in equity;

 

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		8.1.18.	it has the human, administrative, technical and other capabilities and resources to perform the Services
or otherwise will retain or subcontract to appropriate professionals to render such Services as Services Providers;

 

		8.1.19.	all of the Services identified in this Agreement are sufficient to substantially conduct the Online Gaming
Business in the ordinary course, and in substantially the same manner as heretofore conducted.

 

		8.2.	Representations and Warranties of the Company

 

The Company hereby represents and warrants,
on its behalf and on behalf of each of the other Sublicensees and Services Recipients, to Parent, that as of the date hereof and as of
the Effective Date:

 

		8.2.1.	it is validly organized and existing under the Laws of the Kingdom of Spain;

 

		8.2.2.	it, or the relevant Services Recipient, holds such Permits necessary to own and operate the projects and
entities that it directly or indirectly owns or operates from time to time and is not aware of any reason why such Permits might be cancelled;

 

		8.2.3.	it has the power, capacity and authority to enter into this Agreement and to perform its duties and obligations
hereunder;

 

		8.2.4.	it has taken all necessary action to authorize the execution, delivery and performance of this Agreement;

 

		8.2.5.	the execution and delivery of this Agreement by it and the performance by it of its obligations hereunder
do not and will not contravene, breach or result in any default under its Governing Instruments, or under any mortgage, lease, agreement
or other legally binding instrument, Permit or applicable Law to which it is a party or by which any of its properties or assets may be
bound, except for any such contravention, breach or default which would not have a material adverse effect on the business, assets, financial
condition or results of operations of the Company, the Sublicensees and the Services Recipients as a whole;

 

		8.2.6.	no authorization, consent or approval, or filing with or notice to any Person is required in connection with
the execution, delivery or performance by it of this Agreement; and

 

		8.2.7.	this Agreement constitutes a valid and legally binding obligation, enforceable against it in accordance with
its terms, subject to: (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other Laws of general
application limiting the enforcement of creditors’ rights and remedies generally; and (ii) general principles of equity, including
standards of materiality, good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable
remedies, whether such principles are considered in a proceeding at law or in equity.

 

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		9.	Liability and Indemnification

 

		9.1.	Parent Indemnity

 

Parent agrees, to the
fullest extent permitted by applicable Laws, to indemnify and hold harmless the Company and each Sublicensee or Services Recipient, as
the case may be applicable, and any of their respective directors, officers, agents, members, partners, stockholders and employees and
other representatives of the Company Group (each, a “Company Indemnified Party”), on demand, and on an after-tax basis
without any withholding or deduction, from and against any claims, liabilities, losses, damages, costs or expenses (including legal fees)
payable to third parties (each, a “Loss”) incurred by any Company Indemnified Party in connection with (i) any falsehood,
breach or inaccuracy of any representations and warranties included in Section ‎8.1,
(ii) any breach by Parent of any of its obligations, undertakings and covenants under this Agreement, and/or (iii) any claims brought
by any employees of Parent against a Company Identified Party in respect of their potential requalification as employees of the Company
Group; provided that no Company Indemnified Party shall be so indemnified with respect to any Loss (i) arising as a result of breach by
the Company of any of its representations and warranties in Section ‎8.2, (ii) arising as a result of the exercise of Parent’s
rights and obligations under this Agreement, (iii) that is finally determined by a final and non-appealable judgment entered by a court
of competent jurisdiction, or pursuant to a settlement agreement agreed to by such Company Indemnified Party, to have resulted from such
Company Indemnified Party’s bad faith, fraud, willful misconduct or gross negligence or, in the case of a criminal matter, conduct
undertaken with knowledge that the conduct was unlawful, or (iv) that involves a claim for which Parent is entitled to indemnification
from the Company pursuant to Section ‎9.2.

 

		9.2.	Company Indemnity

 

The Company agrees, to
the fullest extent permitted by applicable Laws, to indemnify and hold harmless, and to cause each other Sublicensee or Services Recipient,
as applicable, to indemnify and hold harmless, each member of the Parent Group and any directors, officers, agents, members, partners,
stockholders and employees and other representatives of the Parent Group (each, a “Parent Indemnified Party”), on demand,
and on an after-tax basis without any withholding or deduction, from and against any Losses incurred by any Parent Indemnified Party in
connection with (i) any falsehood, breach or inaccuracy of any representations and warranties included in Section ‎8.2, (ii)
any breach by the Company of any of its obligations, undertakings and covenants under this Agreement, and/or (iii) any and all actions,
suits, investigations, proceedings or claims, whether arising under statute or action of a Governmental Authority or otherwise and in
connection with the business, investments and activities of the Company and any Sublicensees or Services Recipients, as applicable, or
in respect of or arising from this Agreement or the use by the Company and any of its Sublicensees or Services Recipients of the Sponsorship
Rights or the Services, as applicable; provided that no Parent Indemnified Party shall be so indemnified with respect to any Loss (i)
arising as a result of breach by Parent of any of its representations and warranties in Section ‎8.1,
(ii) arising as a result of the exercise of the Company’s rights and obligations under this Agreement, (iii) that is finally determined
by a final and non-appealable judgment entered by a court of competent jurisdiction, or pursuant to a settlement agreement agreed to by
such Parent Indemnified Party, to have resulted from such Parent Indemnified Party’s bad faith, fraud, willful misconduct or gross
negligence or, in the case of a criminal matter, conduct undertaken with knowledge that the conduct was unlawful, or (iv) that involves
a claim for which the Company is entitled to indemnification from Parent pursuant to Section ‎9.1.

 

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		9.3.	Indemnification Procedure

 

		9.3.1.	Any party entitled to indemnification under Section ‎9.1
or Section ‎9.2 (an “Indemnified Party”) shall promptly provide written
notice to the party obliged to provide indemnification (the “Indemnifying Party”) of any facts or circumstances that,
in its reasonable opinion, give rise to an indemnifiable Loss, provided that the failure to notify such Indemnifying Party shall
not relieve such Indemnifying Party from any Loss that it may have hereunder except to the extent that it has been materially prejudiced
(through the forfeiture of substantive rights or defenses) by such failure. Each notification shall state, with respect to such particular
claim: (i) the obligations, covenants or undertakings set forth in this Agreement which have been breached; (ii) a description of the
claim; (iii) the nature and to the extent reasonably practicable, the amount of the Loss; and (iv) to the extent already available to
an Indemnified Party, any supporting documentation to its claim. The Indemnifying Party shall have ten (10) Business Days from the date
of receipt of notification of such claim to respond to the Indemnified Party, indicating whether it accepts or rejects, totally or partially,
such indemnification claim. If the Indemnifying Party does not provide a response within such ten (10) Business Days, it shall be understood
that the Indemnifying Party accepts such claim. If the Indemnifying Party accepts such claim, it shall become final and binding and the
Indemnifying Party shall pay to the Indemnified Party the amount determined in the relevant notification of claim within five (5) Business
Days, by means of a wire transfer of immediately available funds without any withholding, deductions or commissions. If the Indemnifying
Party rejects such claim, the parties shall resolve the dispute in the Courts set forth in Section ‎11.8.

 

		9.3.2.	If Parent, the Company, any Parent Indemnified Parties, any Company Indemnified Parties or any of their respective
Affiliates receives notice of any pending or threatened claims, actions, proceedings or investigations asserted by a third party (a “Third
Party Claim”) which may give rise to indemnification as an Indemnified Party under this Agreement, the following rules shall
apply:

 

		(i)	Such Indemnified Party shall submit a notice of claim to the Indemnifying Party within ten (10) Business
Days from the receipt of the Third Party Claim (and in any event, to the extent possible, before the expiration of the first one-third
(1/3) of the term resulting from the applicable Laws to respond, appeal or oppose such Third Party Claim). Such notice of claim shall
include (a) a copy of the Third Party Claim; (b) if available, the value or an estimation of the Third Party Claim (as identified therein);
(c) any deadline to reply to the Third Party Claim. Upon the Indemnifying Party ́s written request the Indemnified Party shall furnish
any other documentation which may be deemed reasonably necessary in order to enable the Indemnifying Party’s defense against such
Third Party Claim and that may be available to the Indemnified Party. If the Indemnified Party is Parent, Parent shall also indicate whether
it desires to assume the defense of such Third Party Claim (subject to paragraph (ii) below);

 

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		(ii)	Parent may, but shall not be obligated to, assume the defense
of such Third Party Claim (for the avoidance of doubt, whether Parent is the Indemnified Party or the Indemnifying Party), by providing
written notice to the Company within the earlier of (a) ten (10) days of receiving written notice of such Third Party Claim; or (b) before
the expiration of the first two-thirds (2/3) of the term resulting from the applicable Laws to respond, appeal or oppose such Third Party
Claim. Notwithstanding the foregoing, if Parent does not expressly elect to assume the defense of a Third Party Claim within such deadline,
the Company shall have the right to assume the defense of such Third Party Claim. However, in the event of any Third Party Claim against
a Company Indemnified Party for equitable or injunctive relief or with respect to potential criminal liability of a Company Indemnified
Party, Parent shall not be entitled to assume the defense of such Third Party Claim with respect to the Company Indemnified Party, and
the Company shall have the right to assume such defense with respect to the Company Indemnified Party.

 

		(iii)	If Parent assumes the defense of any Third Party Claim under
the terms of the paragraph (ii) above, it shall not, without the prior written consent of the Company, enter into any settlement or compromise
or consent to the entry of any judgment with respect to such Third Party Claim if such settlement, compromise or judgment (a) involves
a finding or admission of wrongdoing, fault, culpability or a failure to act by a Company Indemnified Party, (b) does not include an
unconditional written release by the claimant or plaintiff from all liability in respect of such Third Party Claim or (c) imposes equitable
remedies or any obligation on any Company Indemnified Party other than solely for the payment of monetary damages for which such Company
Indemnified Party will be indemnified hereunder. If the Company assumes the defense of any Third Party Claim, the Company shall not,
without the prior written consent of Parent (which consent shall not be unreasonably withheld, conditioned or delayed), settle or compromise
any action or consent to the entry of any judgment.

 

		(iv)	Without prejudice to the foregoing, any Indemnified Party shall
retain the right to employ its own counsel and to participate in the defense of any Third Party Claim (regardless of which party leads
the defense pursuant to paragraph (iii) above), but such Indemnified Party shall bear and shall be solely responsible for the costs and
expenses in connection with such participation, unless (x) the Indemnified Party receives the written opinion of counsel that representation
of such Indemnified Party and the Indemnifying Party by the same counsel presents a conflict of interest under applicable standards of
professional conduct or (y) the Indemnified Party receives the written opinion of counsel that there may be legal defenses available
to such Indemnified Party which are different from or in addition to the defenses available to the Indemnifying Party, and in the reasonable
judgment of such counsel it is advisable for such Indemnified Party to employ separate counsel.

 

    23

     

    

 

		9.3.3.	The parties agree that payments in respect of Losses shall be made by wire transfer of immediately available
funds to one or more accounts designated for such purposes by the Indemnified Party. Consequently, in the event that any amounts are due
and payable by the Indemnifying Party to one or more Indemnified Parties under the terms of this Section ‎9,
the Indemnifying Party shall pay to each Indemnified Party a sum equal to the amount which, if received by such Indemnified Party, would
be necessary to put such Indemnified Party into the financial position it would have had if no such Losses had been incurred or suffered
by such Indemnified Party (including legal expenses). The Company shall have the right to set off any amounts for which the Company is
entitled to indemnification hereunder against any amounts payable by the Company or any member of the Company Group to Parent under Section
‎7.

 

		9.3.4.	Furthermore, if any indemnification payments pursuant to this Section ‎9
are taxable, the Indemnifying Party shall pay to the Indemnified Party such additional amounts to ensure that the amount received by each
Indemnified Party, as applicable, less taxes, is equal to the full amount of indemnification that would otherwise be payable pursuant
to this Section ‎9.

 

		9.3.5.	The parties hereto expressly acknowledge and agree that the right to indemnity provided in this Section ‎9
shall be in addition to and not in derogation of any other liability which any Indemnifying Party in any particular case may have or of
any other right to indemnity or contribution which any Indemnified Party may have by statute or otherwise at Law.

 

		9.3.6.	The indemnity provided in this Section ‎9 shall survive
for a period of five (5) years following the termination or purported termination of, this Agreement.

 

		9.3.7.	Parent and the Company hereby acknowledge and agree that (i) Parent shall be responsible for any breaches
of this Agreement by any member of the Parent Group and any Services Provider, and (ii) the Company shall be responsible for any breaches
of this Agreement by any member of the Company Group, including any Sublicensees and Services Recipients. Parent and the Company hereby
acknowledge and agree that (i) Parent may enforce any of the covenants in this Section ‎9
on behalf of itself and/or any of the Parent Indemnified Parties, and (ii) the Company may enforce any of the covenants in this Section
‎9 on behalf of itself and/or any member of the Company Group, including any Sublicensee
or Services Recipient.

 

		9.4.	Limitation of Liability

 

		9.4.1.	Parent assumes no responsibility under this Agreement in connection with the Services other than to render
the Services in good faith and will not be responsible for any action of a Services Recipient’s Governing Body in following or declining
to follow any advice or recommendations of the relevant Services Provider.

 

		9.4.2.	The maximum amount of the aggregate liability of the Parent Indemnified Parties pursuant to this Agreement
in any fiscal year in connection with the Sponsorship Rights shall not exceed the aggregate Sponsorship Fees in effect for the prior two
(2) fiscal years, pro-rated for any partial fiscal year.

 

		9.4.3.	The maximum amount of the aggregate liability of the Parent Indemnified Parties pursuant to this Agreement
in any fiscal year in connection with the provision of the Services shall not exceed the aggregate Services Fees in effect for the prior
two (2) fiscal years, pro-rated for any partial fiscal year.

 

    24

     

    

 

		10.	Term and Termination

 

		10.1.	Term

 

This Agreement shall become effective on
the Effective Date and shall terminate on the fifth (5th) anniversary of the Effective Date (the “Initial Term”).
This Agreement shall be automatically extended for successive one-year periods at the end of the Initial Term and each extended term thereafter,
unless (i) either party provides written notice of termination to the other party at least ninety (90) days prior to the expiration of
the Initial Term or such extended term, respectively, (ii) the parties hereto otherwise mutually agree in writing, or (iii) the Agreement
is terminated under Section ‎10.2 or Section ‎10.3 (the Initial Term, as extended, the “Term”).

 

		10.2.	Termination by either party

 

Either party to this Agreement may terminate
this Agreement at any time without payment of any termination fee (but without prejudice to any liability that it may have incurred pursuant
to the terms and conditions of this Agreement):

 

		(i)	if the other party defaults in the performance or observance of any material term, condition or agreement
contained in this Agreement in a manner that results in material harm to the non-defaulting party or its group, and such default continues
uncured or unremedied for a period of ninety (90) days after written notice thereof specifying such default and requesting that the same
be remedied in such 90-day period;

 

		(ii)	if a non-affiliated third party or a group of non-affiliated third parties acting in concert with each other,
directly or indirectly, acquires in one transaction or a series of related transactions or otherwise becomes the Beneficial Owner of more
than fifty percent (50)% of the share capital of Holdco or the Company at the time of such transaction (or series of related transactions);

 

		(iii)	if the Company Group, directly or indirectly sells, transfers,
or conveys to a non-affiliated third party or a group of non-affiliated third parties acting in concert with each other, directly or
indirectly, all or substantially all of the assets of (including shares owned by) the Company Group, on a consolidated basis; or

 

		(iv)	the Agreement is terminated pursuant to Section ‎7.2.3.

 

provided however that neither Holdco, Parent,
and/or one or more of Parent’s future or current Affiliates, successors, assigns or any entity acquiring all or substantially all
of the assets and/or businesses of Parent, whether by operation of law or otherwise, shall be deemed to be “non-affiliated third
parties” for purposes of Sections ‎10.2(ii) or ‎10.2(iii).

 

For the avoidance of doubt, Parent’s
mere failure to control or own, directly or indirectly, a majority of the share capital of Holdco or the Company will not satisfy the
condition in Section ‎‎10.2(ii) unless a non-affiliated third party or a group of non-affiliated third parties acting in concert
with each other, directly or indirectly, acquires in one transaction or a series of related transactions or otherwise becomes the Beneficial
Owner of more than fifty percent (50)% of the share capital of Holdco or the Company at the time of such transaction (or series of related
transactions).

 

    25

     

    

 

		10.3.	Termination by the Company

 

		10.3.1.	The Company may terminate this Agreement at any time, upon
prior written notice of termination to Parent. Any termination by the Company under this Section ‎10.3.1
is subject to payment to Parent of any applicable Discontinuation Costs.

 

		10.3.2.	Should the Company terminate this Agreement, or amend the scope of the Services by discontinuing certain
Services pursuant to Section ‎11.1.1, the Company shall reimburse to Parent for all
Discontinuation Costs, which will be calculated in good faith by Parent and agreed in good faith between Parent and the Company. Within
thirty (30) days from the termination or amendment date, Parent shall invoice the Company for the agreed Discontinuation Costs to be paid
by the Company. The Company shall pay said invoice within forty-five (45) days from the invoice date. The Company has the right to have
a representative review the accuracy of the calculation of, and underlying records relating to, the Discontinuation Costs (the “Calculation”),
at its cost and expense, at the location Parent keeps such records. In the event that the Company does not agree with the Calculation,
it shall furnish Parent with the calculation of the Discontinuation Costs it considers to be accurate. If Parent does not agree with the
Company’s calculation, the Discontinuation Costs shall be calculated by an independent third party (the “Expert”),
which shall be appointed by mutual agreement of the Company and Parent within ten (10) Business Days of Parent’s written notice
to the Company of its objection to the Company’s calculation. If Parent and the Company are unable to agree on the appointment of
the Expert, Parent will appoint one of the “Big Four” accounting firms, other than Parent’s or the Company’s statutory
auditors, to act as the Expert. The Expert shall calculate the Discontinuation Costs within thirty (30) days of its engagement, and such
determination shall be conclusive and binding upon the Company and Parent. The party whose calculation of the Discontinuation Costs was
farthest from the Discontinuation Costs calculated by the Expert shall bear the fees and expenses of the Expert, including any expenses
incurred by Parent and the Company in presenting evidence to the Expert. If the determination by the Expert is equidistant between the
calculation of the Company and Parent, or is no more than five percent (5%) more or less than such equidistant amount, the fees and expenses
of the Expert shall be borne equally by the Company and Parent and each of the Company and Parent shall bear the cost of their own out-of-pocket
expenses.

 

		10.4.	Effect of Termination and Survival Upon Termination

 

Termination of this Agreement
shall be effective:

 

		(i)	in case that the Company terminates this Agreement pursuant to Section ‎10.3.1,
on the date which is ninety (90) days after the date of the written notice submitted by the terminating party pursuant to Section ‎11.10;

 

		(ii)	in case of termination as a consequence of a default pursuant to Section ‎10.2(i)
above, on the date which is ninety (90) days after the date of the written notice submitted by the terminating party pursuant to Section
‎11.10, unless the default is cured within such 90-day period;

 

    26

     

    

 

		(iii)	in case that either Party terminates this Agreement pursuant to either Sections ‎10.2(ii)
or ‎10.2(iii), on the date which is one (1) year after the date of the written
notice submitted by the terminating party pursuant to Section ‎11.10;

 

		(iv)	in case that either Party terminates this Agreement pursuant to Section ‎10.2(iv),
on the date set forth under Section ‎7.2.3;

 

and all of the foregoing dates, shall be
deemed to be an effective date of termination of this Agreement as per and for the purposes of Section ‎10.5
below.

 

If this Agreement is terminated pursuant
to this Section ‎10 (but other than as per Section ‎10.2(i)),
such termination will be without any further liability or obligation of any party hereto, except as provided in Section ‎1, Section
‎4.2.1, Section ‎4.8.2, Section ‎4.8.4, Section ‎9, Section ‎10.5 and Section ‎10.6 hereof and except
for any liabilities incurred by the parties prior to the termination date.

 

		10.5.	Action Upon Termination

 

		10.5.1.	From and after the effective date of the termination of this Agreement, Parent shall not be entitled to receive
Services Fees for the provision of the Services under this Agreement, but will be paid all Services Fees accruing to and including the
date of termination (including such day).

 

		10.5.2.	From and after the effective date of the termination of this Agreement, except as set forth in Section ‎10.5.4,
Parent shall not be entitled to receive the Sponsorship Fees for further use of the Sponsorship Rights under this Agreement, but will
be paid all Sponsorship Fees accruing to and including the date of termination (including such day).

 

		10.5.3.	On the effective date of the termination of this Agreement,
except as set forth in Section ‎10.5.4, the Company shall and shall cause each of its Sublicensees to cease using the Sponsorship
Rights or any derivation thereof in any form. Should the Company or any of its Sublicensees fail to cease using the Sponsorship Rights
in accordance with the preceding sentence, the Company agrees and hereby specifically consents to Parent obtaining a decree of a court
having jurisdiction over the Company and/or such Sublicensees ordering the Company and/or such Sublicensees to stop the use of the Sponsorship
Rights in any form. Said consent is based on a recognition by the Company that a monetary payment would be inadequate remedy for Parent.
Nevertheless, it is understood between the parties hereto that, in addition to the injunctive relief mentioned above, Parent shall be
entitled to any other relief which may be deemed proper and customary, whether at law or equity, as of the time such relief is sought.

 

		10.5.4.	If Parent terminates this Agreement pursuant to either Sections ‎10.2(ii)
or ‎10.2(iii), Parent shall use commercially reasonable efforts to negotiate with each
of the counterparties to the then-current Sponsorship Agreements to allow for the continued license or assignment of the Sponsorship Rights
to the Company Group, until the later of (i) two (2) years after the date of the written termination notice submitted by Parent pursuant
to Section ‎11.10 or (ii) the expiration of the initial term of the relevant Sponsorship
Agreement; provided that the Company and Parent shall have agreed in good faith on the Sponsorship Fees payable by the Company connection
with such continued license or assignment of Sponsorship Rights; and provided further that the provisions of this Agreement relating to
the rights and obligations of the parties with respect to the license of Sponsorship Rights (including Sections ‎2, ‎7,
‎9, ‎11.3 and ‎11.4) shall remain in effect between Parent and the Company with respect to such
Sponsorship Rights and Sponsorship Fees.

 

    27

     

    

 

		10.5.5.	On the effective date of the termination of this Agreement, the Parent Group shall cease the provision of
any Services and the Company shall pay any Discontinuation Costs due pursuant to Section ‎10.3.

 

		10.5.6.	Upon any termination of this Agreement, Parent shall forthwith:

 

		(i)	after deducting any accrued Services Fees, pay over to the Services
Recipients all money collected and held for the account of the Services Recipients pursuant to this Agreement;

 

		(ii)	deliver to the Company’s Executive Management a full accounting,
including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the
date of the last accounting furnished to the Governing Bodies with respect to the Services Recipients; and

 

		(iii)	deliver to the Company’s Executive Management all property
and documents of the Company, any Sublicensees or any Services Recipients then in the custody of the Parent Group.

 

		10.5.7.	Upon any termination of this Agreement, (i) Parent shall forthwith deliver to the Company’s Executive
Management all property and documents of the Company or any Sublicensees or Services Recipients then in the custody of the Parent Group
and (ii) the Company shall forthwith deliver to Parent all property and documents of Parent then in the custody of the Company Group.

 

		10.6.	Preservation of Remedies

 

Termination of this Agreement is without
prejudice to the rights of either party with regard to a breach by the other party of this Agreement, or any obligation surviving termination
or expiration of this Agreement. Full legal remedies remain available for any such breach or continuing obligation, including the right
to recover damages or to secure other appropriate relief.

 

		11.	General Provisions

 

		11.1.	Amendment, Waiver

 

		11.1.1.	The Company is entitled to amend the scope of the Services, including by discontinuing certain Services,
reducing the number of Services Recipients or the nature or description of the Services or otherwise, by providing sixty (60) days’
prior written notice to Parent; provided, however, that, except as otherwise provided herein, the Company may not increase the scope of
the Services without Parent’s prior written consent; and provided further, however, that prior to such modification, the Company
and Parent shall agree in writing to any modification of the Services Fees resulting from such change in scope. In the event that the
Company and Parent are unable to agree on modified Services Fees, the Company may terminate this Agreement as set forth in Section ‎10.3.
Any amendment by the Company under this Section ‎11.1.1 is subject to payment to Parent
of any applicable Discontinuation Costs.

 

    28

     

    

 

		11.1.2.	Without prejudice to Section ‎11.1.1, any provision of
this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment,
by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective.

 

		11.1.3.	No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a
waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any
other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by Law.

 

		11.2.	Assignment

 

		11.2.1.	This Agreement shall not be assigned by Parent without the prior written consent of the Company, except pursuant
to Section ‎2.2 and Section ‎3.3 or in the case of assignment to a Person that is Parent’s successor by merger, consolidation
or purchase of assets, in which case the successor shall be bound under this Agreement and by the terms of the assignment in the same
manner as Parent is bound under this Agreement. In addition, provided that Parent provides prior written notice to the Company for informational
purposes only, nothing contained in this Agreement shall preclude any pledge, hypothecation or other transfer or assignment of Parent’
rights under this Agreement, including any amounts payable to Parent under this Agreement, to a bona fide lender as security.

 

		11.2.2.	This Agreement shall not be assigned by the Company without the prior written consent of Parent, except in
the case of assignment by the Company to a Person that is its successor by merger, consolidation or purchase of assets, in which case
the successor shall be bound under this Agreement and by the terms of the assignment in the same manner as the Company is bound under
this Agreement.

 

		11.2.3.	Any purported assignment of this Agreement in violation of this Section ‎11.2 shall be null and void.

 

		11.3.	Failure to Pay When Due

 

If payment in full in respect of any invoice
is not received by the Parent Group from the Company Group as provided in Section ‎7.3 (except for any amount in good faith disputed
as provided in Section ‎11.4), Parent shall have the right, after giving sixty (60) days’ prior written notice thereof to
the Company, to suspend the use of all or any portion of the Sponsorship Rights or all or any portion of the Services until such time
as the Company Group has paid in full all amounts then overdue. After such payment in full is received, Parent shall promptly resume providing,
or causing to be provided, the Services to the Services Recipient.

 

    29

     

    

 

11.4.       
Disputes and Resolution

 

Within sixty (60) days following the receipt
of the applicable statement of the Fees due to Parent in accordance with Section ‎7.3, Parent shall notify the Company in writing
of any amounts paid by the Company Group (or required to be paid by the Company Group) that are in dispute and reasonably detail the basis
therefor. Upon receipt of such notice, the Company will research the items in question in a reasonably prompt manner and cooperate with
Parent to resolve any such dispute. The disputed Fees shall be paid to Parent within fifteen (15) days after settlement of such dispute
to the extent owed to Parent.

 

		11.5.	Invalidity of Provisions

 

Each of the provisions contained in this
Agreement is distinct and severable and a declaration of invalidity or unenforceability of any such provision or part thereof by a court
of competent jurisdiction will not affect the validity or enforceability of any other provision hereof. To the extent permitted by applicable
Law, the parties hereto waive any provision of Law which renders any provision of this Agreement invalid or unenforceable in any respect.
The parties hereto will engage in good faith negotiations to replace any provision which is declared invalid or unenforceable with a valid
and enforceable provision, the economic effect of which comes as close as possible to that of the invalid or unenforceable provision which
it replaces.

 

		11.6.	Entire Agreement

 

This Agreement constitutes the entire agreement
between the parties hereto pertaining to the subject matter of this Agreement. There are no warranties, conditions, or representations
(including any that may be implied by statute) and there are no agreements in connection with such subject matter except as specifically
set forth or referred to in this Agreement. No reliance is placed on any warranty, representation, opinion, advice or assertion of fact
made either prior to, contemporaneous with, or after entering into this Agreement, by any party to this Agreement or its directors, officers,
employees or agents, to any other party to this Agreement or its directors, officers, employees or agents, except to the extent that the
same has been reduced to writing and included as a term of this Agreement, and none of the parties to this Agreement has been induced
to enter into this Agreement by reason of any such warranty, representation, opinion, advice or assertion of fact. Accordingly, there
will be no liability, either in tort or in contract, assessed in relation to any such warranty, representation, opinion, advice or assertion
of fact, except to the extent contemplated above.

 

		11.7.	Limitation of Liability

 

NOTWITHSTANDING ANYTHING ELSE SET OUT HEREIN,
EXCEPT WITH RESPECT TO CLAIMS RESULTING FROM GROSS NEGLIGENCE OR WILLFUL MISCONDUCT BY THE APPLICABLE PARTY, NEITHER PARTY SHALL BE LIABLE
TO THE OTHER PARTY OR ANY THIRD PARTY FOR ANY SPECIAL, CONSEQUENTIAL, EXEMPLARY OR INCIDENTAL DAMAGES (INCLUDING LOST PROFITS) ARISING
FROM ANY CLAIM RELATING TO THIS AGREEMENT, WHETHER THE CLAIM FOR SUCH DAMAGES IS BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE
OR STRICT LIABILITY) OR OTHERWISE, EVEN IF SUCH PARTY IS ADVISED OF, KNOWS OF OR SHOULD KNOW OF THE POSSIBILITY OR LIKELIHOOD OF SAME.

 

    30

     

    

 

		11.8.	Governing Law and Choice of Court

 

This Agreement shall be governed by and
construed in accordance with the internal laws of the Kingdom of Spain (Derecho común español). This Agreement, and
any disputes arising out of or in connection with it, its subject matter, existence, negotiation, validity, termination or enforceability
(including non-contractual disputes or claims) and including all matters of constructions, interpretation, validity and performance will
in all respects be finally settled by the Courts of the City of Madrid.

 

		11.9.	Enurement

 

This Agreement will enure to the benefit
of and be binding upon the parties hereto and their respective successors and permitted assigns.

 

		11.10.	Notices

 

Any notice, demand or other communication
to be given under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (i) when
delivered personally to the recipient, (ii) when sent by confirmed electronic mail if sent during normal business hours of the recipient;
but if not, then on the next Business Day, or (iii) one Business Day after it is sent to the recipient by overnight courier service (charges
prepaid). Such notices, demands and other communications shall be sent to the addresses specified below, or at such address or to the
attention of such other Person as the recipient party has specified by prior written notice to the sending party. Any party may change
such party’s address for receipt of notice by giving prior written notice of the change to the sending party as provided herein.
Notices and other communications will be addressed as follows:

 

If to the Services Recipients:

 

Servicios de Juego Online S.A.U.

Oscar Iglesias Sánchez

Oscar.iglesias@codere.com

Avenida de Bruselas 26, 28108, Alcobendas, Madrid

+34 913 542 836

 

With a copy to:

 

DD3 Acquisition Corp. II

Pedregal 24, Piso 3, Colonia Molino del Rey

Delegación Miguel Hidalgo

México C.P. 11040

Attn: Martín Werner and Daniel Salim

Email: martin.werner@dd3.mx and daniel.salim@dd3.mx

 

If to Parent:

 

Codere Newco, S.A.U.

Attn: Ángel Corzo Uceda

Avenida de Bruselas 26, 28108, Alcobendas, Madrid

Ángel.corzo@codere.com

Tel: +34 913 542 836

 

    31

     

    

 

		11.11.	Further Assurances

 

Each of the parties hereto will promptly
do, make, execute or deliver, or cause to be done, made, executed or delivered, all such further acts, documents and things as the other
party hereto may reasonably require from time to time for the purpose of giving effect to this Agreement and will use reasonable efforts
and take all such steps as may be reasonably within its power to implement to their full extent the provisions of this Agreement.

 

		11.12.	Counterparts

 

This Agreement may be signed in counterparts
and each of such counterparts will constitute an original document and such counterparts, taken together, will constitute one and the
same instrument.

 

(Signature pages follow)

 

    32

     

    

 

In witness whereof, the parties have executed
this Agreement as of the date first written above.

 

	Servicios de Juego Online S.A.U.

as Company	 
	 	 
	By: 	/s/ Óscar Iglesias Sánchez	 
	 	Name: 	 Óscar Iglesias Sánchez	 
	 	Title:	Director	 
	 	 	 
	By: 	/s/ Ángel Corzo Uceda	 
	 	Name: 	Ángel Corzo Uceda	 
	 	Title:	Director	 
	 	 	 	 

	Codere Newco, S.A.U.

as Parent	 
	 	 
	By: 	/s/ Vicente Di Loreto	 
	 	Name: 	Vicente Di Loreto	 
	 	Title:	Authorized Signatory	 

 

[Signature page to Sponsorship
and Services Agreement]

 

     

     

    

 

Exhibit A

 

NEW SPONSORSHIP RIGHTS NOTICE

 

[Date]

 

Servicios de Juego Online S.A.U.

[Address of Company]

 

		Re:	Sponsorship and Services Agreement dated June 21, 2021

 

Pursuant to the captioned Agreement, you
are hereby notified that effective as of the date hereof the undersigned consents to the inclusion of [·]
(the “New Sponsorship Right”), as a “New Sponsorship Right” for the purposes of the Agreement. You may
only use the New Sponsorship Right subject to and in accordance with the Agreement and the related [Sponsorship Agreement]. The terms
and conditions of the [assignment/license] of the New Sponsorship Right and the related Sponsorship Fees payable as consideration for
the [assignment/license] of such New Sponsorship Right are as follows:

 

[·]

 

In connection herewith, the undersigned
hereby repeats and restates, as of the date hereof, the representation appearing in Section ‎2.3 of the Agreement with respect to
the New Sponsorship Right.

 

 

	 	Sincerely,

	 	 
	 	[NAME OF ASSIGNOR/LICENSOR]
	 	 
	 	By: 	 
	 	 	Name: 	                   
	 	 	Title:	 

 

	ACKNOWLEDGED AND AGREED:
	 
	 	 
	[NAME OF ASSIGNEE/LICENSEE]	 
	 	 
	By:	 	 
	 	Name:	                   	 
	 	Title:	 	 

 

     

     

    

 

Exhibit B

 

RM SPONSORSHIP AGREEMENTExhibit 10.15

 

 

 

 

 

Platform
and Technology Services agreement 

 

 

 

 

 

    	 	1	 

     

    

  

This Agreement is made and entered as of January 1, 2021 (the “Effective
Date”) by and between:

 

		1.	CODERE ONLINE MANAGEMENT SERVICES LTD., a company incorporated under the laws of Malta with registration number C88406 and,
having its registered address at Level 3 (Suite no. 2265), Tower Business Centre, Tower Street, Swatar BKR 4013, Malta (hereinafter, the
“Company”).

 

AND;

 

		2.	CODERE APUESTAS ESPAÑA S.L.U, a Company incorporated and registered in in the Public Property and Commerce Registry
of Madrid volume 29357, sheet 79, section 8, page M-528758, entry 1s, and with its registered office at Alcobendas Av. Bruselas
26 Alcobendas (Madrid) Spain., (hereinafter referred to as the “CAES”).

 

		3.	CODERE NEWCO S.A.U., a Company incorporated and registered in in the Public Property and Commerce Registry of Madrid volume
34399, sheet 192, page M-618784, NIF no. A87172003, and with its registered office at Alcobendas Av. Bruselas 26 Alcobendas (Madrid) Spain
(hereinafter referred to as the “NEWCO” or “PARENT”).

 

(CAES and NEWCO both hereinafter also referred to jointly as the “Provider”.
The Company and the Provider also shall be referred to individually as “Party” or collectively as “Parties”)

 

WHEREAS

 

		I.	The Company is part of an international group, the “Codere
Group”, that engages in the gaming and gambling industry in a number of jurisdictions. The Company has obtained a valid B2B gaming
license from the Malta Gaming Authority (License no. MGA/B2B/611/2108) (the “License”).

		 	 

		II.	The Company is the manager of the Online Gaming Platform and
provides casino and sport betting management services to other Codere Group companies.

		 	 

		III.	The Provider, also companies of the Codere Group, seek to provide
the Company with platform and technology services for its online casino and online Sport Betting Business, as described in this Agreement,
and as further detailed in Schedule A attached hereto (hereinafter jointly referred to also as the “Services”).

		 	 

		IV.	The Company wishes to engage the Services described in this
Agreement.

 

    	 	2	 

     

    

 

THEREFORE, in consideration of
the mutual obligations and undertakings contained herein, and subject to the terms hereinafter set forth, the Parties hereto agree as
follows:

 

		1.	PURPOSE
                                            AND DEFINITIONS

  

		1.1.	In addition to the terms defined above and those terms defined in the text of this Agreement, the following capitalized terms shall
have the following respective meanings for the purposes of this Agreement:

 

		1.1.1.	“Agreement” means this Services agreement including any supplementary agreements and any other appendices, schedules
or amendments which may be attached hereto with the consent of both Parties.

 

		1.1.2.	“Codere Online” means Holdco and its direct and indirect Subsidiaries, including any Subsidiary of Holdco formed
or acquired after the Effective Date.

 

		1.1.3.	“Holdco” means Codere Online Luxembourg, S.A.

 

		1.1.4.	“Discontinuation costs” means any costs incurred by the Provider directly linked to the termination of this Agreement
by Company pursuant to Section 10.3 or discontinuation of certain Services as requested by the Company pursuant to Section 1.3, including
but not limited to severance payments, third party break-up fees, loss of synergies and third party fees related to the service being
discontinued until the Provider has the ability to discontinue.

 

		1.1.5.	“Governmental Authority” means any (i) international, national, multinational, federal, state, regional, municipal,
local or other government, governmental or public department, central bank, court, tribunal, arbitral body, commission, board, bureau,
agency or instrumentality, domestic or foreign (ii) self-regulatory organization or stock exchange, (iii) subdivision, agent, commission,
board, or authority of any of the foregoing, or (iv) quasi-governmental or private body exercising any regulatory, expropriation or taxing
authority under or for the account of any of the foregoing.

 

		1.1.6.	“Laws” means any and all applicable (i) laws, constitutions, treaties, statutes, codes, ordinances, principles
of common law and equity, rules, regulations and municipal bylaws whether domestic, foreign or international, (ii) judicial, arbitral,
administrative, ministerial, departmental and regulatory judgments, orders, writs, injunctions, decisions, and awards of any Governmental
Authority, and (iii) policies, practices and guidelines of any Governmental Authority which, although not actually having the force of
law, are considered by such Governmental Authority as requiring compliance as if having the force of law, and the term “applicable,”
with respect to such Laws and in the context that refers to one or more Persons, means such Laws that apply to such Person or Persons
or its or their business, undertaking, property or securities at the relevant time and that emanate from a Governmental Authority having
jurisdiction over the Person or Persons or its or their business, undertaking, property or securities;

 

    	 	3	 

     

    

  

		1.1.7.	“Online Gaming Platform” means the software and hardware infrastructure constituting the main interface between
Players and the online gaming and sport betting operator including but not limited to: (i) tools required to open or close the Player
gaming account, to save and edit Player profile information, to take funds out of or put funds into the player gaming account, or to view
details or a summary of Player account transactions; (ii) any technical element that shows Player relevant information on the integrated
games offered, (iii) client software that Players must download and install on their system in order to interact with the Online Gaming
Platform; (iv) tools that enable the operator to manage the user and gaming accounts of Players, to manage financial transactions, to
report on game results, to activate or disable records and accounts and to establish all configurable parameters; (v) storage systems
used to record and save the personal information of Players, information on all the transactions Players carry out and on the results
of general events or sporting events, coefficients and other data relevant to the operation and management of gaming activities (Player
database) and (vi) technical systems and instruments facilitating financial transactions between the Players and the gaming operator,
which contains the means necessary to transfer funds from the payment method used by the Player to the operator, and back to the participant
(payment gateway).

 

		1.1.8.	“Parent Group” means Parent and its affiliates (other than any member of Codere Online);

 

		1.1.9.	“Players” means the registered and authorized customers of a Codere Group company, that participate in any of the
online gaming activities that the Codere Group company is entitled to offer and conduct.

 

		1.1.10.	“Services” has the meaning specified in Section 1.3 below and further detailed in Schedule A attached hereto.

 

		1.1.11.	“Spanish Inflation” means the annual change in the Spanish consumer price index as published by the Spanish Instituto
Nacional de Estadística on January of every year.

 

		1.1.12.	“Sport Betting Business”: means the provision of sport betting services by the Company to other Codere Group companies.

 

		1.1.13.	“Trading” means in sports betting setting the
pricing of a trade based in odds related to the different events the Company may offer to its customers, based mainly in statistics but
also in an complete knowledge both of the market and competitors, and the most accurate and updated information. The margin of the Trading
is a percentage calculated as follows: (amounts wagered – customer winnings) / amounts wagered.

 

    	 	4	 

     

    

  

		1.2	Purpose. By virtue of the present Agreement, Provider, agrees to provide the Company with the Services, under the terms and
subject to the conditions of this Agreement.

 

The Parties acknowledge and clarify that the Services detailed
in this Agreement, including those reflected in Schedule A, are those agreed by the Parties only for the fiscal year 2021. Thereafter
and during the Term of this Agreement the Parties should agree on an annual basis, up to ninety (90) days before the end of each calendar
year, the type, nature, timetable, specifications, parameters or terms and conditions of future services to be provided by Provider to
the Company in the subsequent year. In the event Company and Provider do not reach an agreement on the Services and expected costs reflected
in the subsequent Annual Budget, the previous approved Annual Budget, adjusted by annualized Spanish Inflation, shall apply.

 

		1.3	Company is entitled to, at any time and for any reason, amend the scope of the Services, including by discontinuing the provision
of certain Services, by providing 60 days’ prior written notice to Providers.

 

		1.4	The Parties also clarify that the Services shall be provided by Provider to the Company (which, in turn, provides services to other
Codere Online entities) on an exclusive basis, except as provided in Section 10.2.6, and the Company, at is sole option and discretion,
subject to the agreed notice periods, shall be entitled to decide during the Term which services, in whole or in part, if any, it will
request from the Provider to provide from time to time. The Company shall not be under the obligation to request services from the Provider
and it will be entitled at its sole discretion to retain the services of third parties for the provision of the Services, in whole or
in part.

 

		1.5	Notwithstanding section 1.4, and for clarity’s sake, Providers will have the right to, at all times, provide platform and technology
services to other Parent Group companies in furtherance of its retail gaming activities or as otherwise agreed between Parent Group and
Codere Online.

 

		2.	DATA PROTECTION

 

		2.1.	The personal data of the Parties’ representatives shall be processed, respectively, by the entities identified on the first
page, which shall act independently, as the parties responsible for the processing thereof. Such data shall be processed in accordance
with the rights and obligations set out in this Agreement, without taking automated decisions that could affect these representatives.
Therefore, the legal basis of the processing is to fulfil and maintain the contractual relationship, with this purpose being strictly
necessary to execute this Agreement. The data shall be kept during the term of the contractual relationship established herein and shall
be processed only by the parties and by those third parties who are legally or contractually obliged to communicate them (as is the case
of third party service providers who have been entrusted with any service related to the management or execution of the Agreement). The
Parties’ representatives may, pursuant to the terms set forth by current law, exercise their rights of access, rectification and
erasure of data, and establish restrictions on the processing of their personal data, object to the same or request the portability of
their data by writing to each of the Parties at the addresses specified on the first page of this document. In the event they are not
satisfied with the service received from the Parties after previously exercising any of the above rights, they may submit a complaint
to the Spanish Data Protection Agency or any other competent authority. The parties’ representatives may contact the data protection
officer of the the Parent Group by sending an email to dpo.codere@codere.com.

    	 	5	 

     

    

  

		2.2.	The personal data managed by the Company accessed and processed by CAES and NEWCO will be regulated by Schedule C.

 

		3.	SERVICES FEE AND PAYMENT

 

		3.1.	Services Fee. During the Term, in consideration to the Provider’s services and obligations hereto, Company agrees to
pay, on a monthly basis, a fee to Provider (the “Fee”) equal to the costs of Services provided regarding online casino
and online sport betting activity plus a mark-up, if applicable, equal to the minimum percentage allowed pursuant to transfer pricing
requirements (5.02% as of the Effective Date) on such Services, as further detailed in Schedule A hereto.

 

		3.2.	The Parties agree that for purposes of Trading the Company at its sole discretion should be the only one to decide, define and instruct
the Provider or its trading manager, which shall be the pricing and risk policy to apply at all times. The trading manager of the Provider
may suggest any strategy that can benefit the Company in reaching its goals, however the Company shall be the only Party entitled to decide
and instruct the Provider’s trading manager, which trading strategy to apply, including, without limitation, instructions with regards
to promotions, bonuses, and risk management.

 

		3.3.	As consideration for the Services, the Company shall pay the Provider the Fees, as shall be agreed by the Parties on an annual basis
(the “Annual Budget”). Notwithstanding, the budgeted Fees for calendar year 2021 are those detailed in Schedule
A attached hereto, which the Parties shall be entitled to amend from time to time in writing.

 

		3.4.	Any increase or change of the Fees versus what was established in the Annual Budget shall be negotiated between the Parties in good
faith and agreed in writing.

 

		3.5.	Steering and Budget Committee – For the Annual Budget, calculation of the monthly Fees and/or the supervision of the
implementation of the Services, the Parties shall create a steering and budget committee (the “Steering Committee”),
which shall comprised representatives of the Parties, and shall address during the Term, among others, the following matters:

 

		3.5.1.	Annual Budget negotiation, agreement, review and consumption monitoring;

 

		3.5.2.	High-level monitoring of major projects;

 

		3.5.3.	Infrastructure service monitoring and compliance with SLA;

 

		3.5.4.	Risk assessment and decision making regarding the Services.

  

		3.6.	The Provider shall invoice the Company for the Fees on a monthly basis for the Services rendered by the Provider during the preceding
month, no later than the fifth (5) day of each month, which the Company shall review, confirm and approve the Services provided in the
preceding month no later than by the tenth (10) of each calendar month.

 

    	 	6	 

     

    

 

		3.7.	The Company shall pay the Provider, by way of bank transfer, within thirty (30) days from the date of the invoice, the full amount
of said invoice. Notwithstanding the foregoing, if Company disputes any item of the invoice in good faith, which must be in writing and
no later than the tenth (10) day of the month following the month in which the services in a dispute were provided, it shall be entitled
to withhold payment solely for the disputed item pending resolution of the dispute and not for the total invoice amount which shall be
always paid in accordance with this clause.

 

		3.8.	The Fees, unless agreed otherwise in writing, shall be calculated and invoiced on a net basis and are exclusive of all taxes (gaming
taxes, VAT, excise, withholdings or otherwise), customs fees, duties, or tariffs imposed on Company or Provider in connection with this
Agreement (collectively, “Transaction Taxes”) which shall be paid by the Company at the rate prevailing at the same
time as paying the Fees. If any Transaction Taxes are imposed on the transactions contemplated by this Agreement, then such amount shall
be paid by the Company or as otherwise stated by Law. Provider shall ensure that all invoices issued distinguish between amounts invoiced
for services and those involving know-how or technology.

 

		3.9.	For the avoidance of doubt, the Parties acknowledge that the Fees stipulated in this Agreement set out the only, final and complete
consideration that Provider shall be entitled to receive for the Services and Provider shall not be entitled to any additional fees, costs,
or expenses, except those as specifically provided in this Agreement, unless otherwise agreed by the Parties in advance and in writing.

 

		3.10.	Review. The Company has the right to have a representative review the accuracy of the calculation of the Fee, at its cost and
expense, not more than once each calendar month and upon reasonable notice to Provider at the location that Provider keeps such records.

 

		4.	REPRESENTATIONS AND WARRANTIES OF THE PROVIDER.

  

Provider represents and warrants: (i) that it has the power,
capacity and authority to enter into this Agreement; (ii) that the Services will be performed with reasonable skill and care, (iii) during
the Term, Provider shall use commercially reasonable efforts to correct any failure of the support to operate in substantial conformity
with the functionality and specifications included in Schedule B; (iii) the execution and delivery of this Agreement by it and the performance
by it of its obligations hereunder do not and will not contravene, breach or result in any default under its governing instruments, or
under any mortgage, lease, agreement or other legally binding instrument, permit or applicable Law to which it is a party or by which
any of its properties or assets may be bound, except for any such contravention, breach or default which would not have a material adverse
effect on the business, assets, financial condition or results of operations of the Provider; (iv) no authorization, consent or approval,
or filing with or notice to any Person is required in connection with the execution, delivery or performance by it of this Agreement;
and (v) this Agreement constitutes a valid and legally binding obligation, enforceable against it in accordance with its terms, subject
to: (i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other Laws of general application limiting
the enforcement of creditors’ rights and remedies generally; and (ii) general principles of equity, including standards of materiality,
good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable remedies, whether such
principles are considered in a proceeding at law or in equity.

 

    	 	7	 

     

    

 

		5.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

Company represents and warrants that: (i) it has the power,
capacity and authority to enter into this Agreement; (ii) the execution and delivery of this Agreement by it and the performance by it
of its obligations hereunder do not and will not contravene, breach or result in any default under its governing instruments, or under
any mortgage, lease, agreement or other legally binding instrument, permit or applicable Law to which it is a party or by which any of
its properties or assets may be bound, except for any such contravention, breach or default which would not have a material adverse effect
on the business, assets, financial condition or results of operations of the Company; (iii) no authorization, consent or approval, or
filing with or notice to any Person is required in connection with the execution, delivery or performance by it of this Agreement; and
(iv) this Agreement constitutes a valid and legally binding obligation, enforceable against it in accordance with its terms, subject to:
(i) applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and other Laws of general application limiting
the enforcement of creditors’ rights and remedies generally; and (ii) general principles of equity, including standards of materiality,
good faith, fair dealing and reasonableness, equitable defenses and limits as to the availability of equitable remedies, whether such
principles are considered in a proceeding at law or in equity.

  

		6.	INDEMNITY

  

		6.1.	Without limiting any Party’s other rights and remedies under the Law, each Party shall indemnify and
hold harmless the other Party and its directors, officers, employees and other representatives upon written demand, from and against any
losses, claims, damages, expenses (including reasonable legal costs and expenses and any VAT thereon) and liabilities to which such Party
may become subject, insofar as such losses, claims, damages, expenses or liabilities (or actions in respect thereof) arise out of, relate
to, or are based upon any claim brought by a third party relating to a breach of a Party’s and/or its corresponding Parent companies,
warranties or undertakings under this Agreement. An indemnifying Party will pay or reimburse the indemnified Party for such losses, claims,
damages, liabilities and expenses as they are incurred, subject to the submission of documentation evidencing such Party damages. Each
Party shall notify the other promptly if it becomes aware that it is, or is reasonably likely to become, a party to any legal action which
relates to a Party warranties or undertaking in this Agreement.

 

		6.2.	The indemnifying Party shall pay all reasonable legal fees and expenses (including any VAT thereon) of the
indemnified Party in the investigation or defence of such claims or actions; provided, however, that the indemnifying Party shall not
be obliged to pay legal expenses and fees to more than one law firm in connection with the defence of similar claims arising out of the
same alleged acts or omissions giving rise to such claims, notwithstanding that such actions or claims are alleged or brought by one or
more parties against the an indemnified Party.

 

    	 	8	 

     

    

 

		6.3.	The indemnity provided in this Section 6 shall survive the completion of Services rendered under, or any
termination or purported termination of, this Agreement.

 

		7.	LIMITATION OF LIABILITY

 

		7.1.	Provider’s (and any company within Parent Group) maximum aggregate liability to Company or to any third
party for all liability arising under or in connection with this Agreement howsoever arising (including by way of contract and/or under
and indemnity and or in tort (including negligence)) shall be limited to an amount equivalent to the Fees paid to Provider in the preceding
nine (9) months.

 

		7.2.	In no event shall Provider be liable hereunder for any (i) indirect, incidental, special or consequential
damages of any kind; (ii) loss of business, profits, revenue, contracts or anticipated savings; or (iii) loss or damage arising from loss,
damage or corruption of any data.

 

		7.3.	Nothing in this Agreement shall limit or exclude the liability of a party to the other party in respect of
fraud, wilful misconduct or gross negligence or any other liability which cannot by way of law be limited or excluded.

 

		8.	CONFIDENTIALITY

 

		8.1.	Definition. The Parties agree that “Confidential Information” means any information which is proprietary
and confidential in nature or that is treated as being confidential by a Party or by any of its affiliates and that is furnished by or
on behalf of such a Party or any of its affiliates (collectively, the “Disclosing Party”) to the other Party or to
any of its affiliates (collectively, the “Receiving Party”), whether such information is or has been conveyed verbally
or in written or other tangible form, and whether such information is acquired directly or indirectly such as in the course of discussions
or other investigations by the Receiving Party, including, but not limited to, trade secrets and technical, financial or business information,
data, ideas, concepts or know-how that is considered and treated as being confidential by the Disclosing Party.

 

		8.2.	No Disclosure. The Receiving Party agrees to hold all Confidential Information of the Disclosing Party in confidence and not
to use such Confidential Information other than during the Term as expressly permitted by this Agreement or as required by the regulatory
authorities. The Receiving Party will not copy or otherwise reproduce or disclose any Confidential Information of the Disclosing Party,
without the prior written consent of the Disclosing Party, other than for disclosures to those employees, agents, subcontractors or representatives
of the Receiving Party who have a need to know such Confidential Information for the purposes of carrying out their obligations under
this Agreement or other than for disclosures to the Regulatory Authorities as required pursuant to their rules and regulations Each Receiving
Party will take such measures as it would reasonably be expected to take for the protection of its own confidential information and to
protect the Confidential Information from unauthorized copying, disclosure or use.

 

    	 	9	 

     

    

 

		8.3.	Exclusions. No obligation of confidence under this Agreement shall extend to information that is:

 

		(a)	Publicly available through no act or omission by the Receiving Party;

 

		(b)	independently developed by the Receiving Party using individuals who have had no contact with the Disclosing Party’s confidential
information; or

 

		(c)	required to be disclosed by government or court order or other legal process, provided that notice is promptly given to the party
whose confidential information is to be so disclosed so that such party may seek a protective order and/or engage in other efforts to
minimize the required disclosure. The Parties shall cooperate in seeking the protective order and engaging in such other efforts.

 

		9.	INTELLECTUAL PROPERTY 

 

		9.1.	Company hereby acknowledges and agrees that Provider owns and is duly licensed to use any and all right, title and interest in the
existing Platform and/or the software embedded to date thereof and Provider shall own and retain such title and interest at all times
in the existing Platform (“Existing Platform IP”). Company irrevocably assigns to Provider, and shall procure an identical
assignment from any end users, all right, title, and interest in so far as they relate to the Existing Platform IP and/or the software
embedded thereof. Company shall not, directly or indirectly, attempt to invalidate for any reason whatsoever, or assert, or assist the
assertion by others, that the rights, title or interest in the Existing Platform IP belong to the Company or any third party other than
Provider.

 

		9.2.	Without prejudice the general aforesaid in Section 9.1 above, Provider hereby acknowledges and agrees that it has been required and/or
it may be required during the Term of this Agreement to develop and/or perform certain modifications, enhancements, adaptations, translations
or other changes of, or additions to the Platform and/or any software embedded thereof (even if developed by Company or any third party
on its behalf) for the business of the Company, among others, based on ideas, suggestions, specifications, demands and/or proposals by
Company, its end users, or any other third party (hereinafter referred to as: “Derivative Works”).

  

		9.3.	Provider acknowledges and agrees that the development of such Derivative Works for the Company shall be developed and made on a “works
for hire” basis, and that the Parties will separately agree the scope, budget, timeline, ownership, and all other terms and conditions
related to any such Derivative Works.

 

		9.4.	Notwithstanding the above, any development of Derivative Works by the Provider shall be for the exclusive use of Company and Codere
Online so long as it is deployed in furtherance of regulated online gaming activities, whereas Parent Group shall have the right to use
any development of Derivative Works by Provider (as well as any platform and technology services, as provided in Section 1.5) in furtherance
of its retail gaming activities.

 

    	 	10	 

     

    

 

		10.	TERM AND TERMINATION

 

		10.1.	Term. The term of this Agreement shall commence and be deemed effective on the Effective Date and shall continue, unless earlier
terminated as provided herein, for a five (5) year period (the “Initial Term”). Thereafter, the Initial Term shall
automatically renew for successive twelve (12) month periods (each referred as the “Extended Term”), unless either
Party hereto provides written notice of non-renewal at least ninety (90) days prior to the then expiration or termination of such Term
(the Initial Term and Extended Term shall be referred jointly as the “Term”).

 

		10.2.	Termination.

 

		10.2.1.	Notwithstanding the foregoing, either Party may terminate the Agreement as follows:

 

		(a)	If either Party defaults in the performance or observance of any material term, condition or agreement contained in this Agreement
in a manner that results in material harm to the other Party and such default continues for a period of thirty (30) days after written
notice thereof specifying such default and requesting that the same be remedied in such thirty (30)-day period; or

 

		(b)	If the other the Party makes a general assignment for the benefit of its creditors, institutes proceedings to be adjudicated voluntarily
bankrupt, consents to the filing of a petition of bankruptcy against it, is adjudicated by a court of competent jurisdiction as being
bankrupt or insolvent, seeks reorganization under any bankruptcy law or consents to the filing of a petition seeking such reorganization
or has a decree entered against it by a court of competent jurisdiction appointing a receiver liquidator, trustee or assignee in bankruptcy
or in insolvency

 

		10.2.2.	Without prejudice to the above, on or after the three (3) year anniversary of the Effective Date, the Company shall be entitled to
terminate this Agreement at any time and for any reason upon ninety (90) days prior written notice to the Provider.

 

		10.2.3.	Company may terminate this Agreement pursuant to Section 8 of Schedule B.

 

		10.2.4.	Any termination by the Company is subject to payment by Company to the Provider of its Discontinuation Costs as provided in section
10.3 below, except in the event such termination by the Company is due to the Provider’s breach of its obligations under this Agreement.
In such event, the Provider shall not be entitled to Discontinuation Costs from Company.

 

    	 	11	 

     

    

 

		10.2.5.	Without prejudice to the above, the Provider may terminate this Agreement as follows:

 

		(a)	any Person or group of related Persons or Persons acting
in concert with each other, other than Holdco, Parent and/or one or more of Parent’s future or current Affiliates, successors,
assigns or any entity acquiring all or substantially all the assets and businesses of Parent whether by operation of law or otherwise,
is or, as a result of any transaction, or series of related transactions (including a merger, consolidation or sale of shares), becomes,
the beneficial owner of more than fifty percent (50)% of the share capital of Holdco or the Company; and

		 	 

		(b)	If Codere Online sells, transfers, conveys or completes other
disposition, whether in one transaction or a series of related transactions, of all or substantially all of the assets of (including
shares owned by) Codere Online, on a consolidated basis, to any Person or group of related Persons or Persons acting in concert with
each other, other than within the Parent Group.

 

		10.2.6.	If the Company amends the scope of the Services by reducing the amount of fees related to Services to be provided below 50% of the
2021 Annual Budget, Provider has the right to either (i) terminate this Agreement upon a six (6) months prior written notice to the Company;
or (ii) continue to provide the Services pursuant to the terms of this Agreement except that the Services shall be provided on a non-exclusive
basis.

 

		10.2.7.	Notwithstanding anything provided in this Agreement it is clarified and agreed that the Provider shall not be entitled for any reason
other than as established in 10.2.1, 10.2.5 and 10.2.6 to terminate this Agreement during the Initial Term.

  

		10.2.8.	In any event of termination by the Provider, except as provided in Section 10.2.1, such termination shall enter into effect six (6)
months from such notice of termination. Within such 6 months period, Provider undertakes to assist the Company to migrate all data and
systems related thereto, to the then Company’s alternative platform of its choice, at is sole discretion.

 

		10.3.	Discontinuation Costs. Should the Company terminate this Agreement, or amend the scope of the Services by discontinuing certain
Services, the Company shall reimburse to the Provider for all Discontinuation Costs, which will be calculated in good faith by the Provider
and agreed between the Parties. Within thirty (30) days from the termination date, the Provider shall invoice the Company for these agreed
Discontinuation Costs to be paid by the Provider. The Company shall pay said invoice within forty-five (45) days from the invoice date.

 

    	 	12	 

     

    

 

		10.4.	Review. The Company has the right to have a representative to review the accuracy of the calculation of the Discontinuation
Costs (the “Calculation”), at its cost and expense, at the location that Provider keeps such records.

 

		10.4.1.	In the event that the Company does not agree with the Calculation, it shall furnish the Provider with the calculation of the Discontinuation
Costs it considers to be accurate. If the Provider does not agree with the Company’s calculation, the calculation of the Discontinuation
Costs shall be determined by an independent third party (the “Expert”) mutually selected by the Company and the Providers
within ten (10) Business Days of written notice by Provider to Company of the inability to agree on the Calculation.

 

		10.4.2.	If Provider and the Company are unable to agree on the appointment of the Expert, Provider will appoint one of the “Big Four”
accounting firms, other than Provider’s or the Company’s statutory auditors, to act as the Expert. The Expert shall calculate
the Discontinuation Costs within thirty (30) days of its engagement, and such determination shall be conclusive and binding upon the Company
and Provider. The party whose calculation of the Discontinuation Costs was farthest from the Discontinuation Costs calculated by the Expert
shall bear the fees and expenses of the Expert, including any expenses incurred by Provider and the Company in presenting evidence to
the Expert. If the determination by the Expert is equidistant between the calculation of the Company and Provider, or is no more than
five percent (5%) more or less than such equidistant amount, the fees and expenses of the Expert shall be borne equally by the Company
and Provider and each of the Company and Provider shall bear the cost of their own out-of-pocket expenses.

 

		10.5.	Obligations upon Termination.

  

		10.5.1.	Upon termination of this Agreement, each Party shall return or destroy all of the other Party’s Confidential Information in
its possession or control.

 

		10.5.2.	In the event of termination, the Company shall pay Provider any fees that are due up to the date of termination, without limitation
to either Party’s other rights or remedies hereunder, at law, or in equity.

 

		10.6.	Survival Upon Termination

 

		10.6.1.	If this Agreement is terminated pursuant to this Section 10, such termination will be without any further liability or obligation
of any party hereto, except as provided in Section 1 (Purpose and Definitions), Section 6 (Indemnity), Section 7 (Limitation of Liability),
Section 7 (Confidentiality), Section 9.3 (Intellectual Property), Section 10.3 (Discontinuation Costs), Section 10.5 (Obligations upon
Termination), Section 11.4 (Governing Law and Jurisdiction), and Section 11.8 (Preservation of Remedies) hereof.

 

    	 	13	 

     

    

 

		11.	GENERAL PROVISIONS

 

		11.1.	Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the Services all prior
agreements, understandings, negotiations and discussions, whether oral or written, between the Parties with respect thereto.

 

		11.2.	Waiver. No waiver by any Party of the breach of any of the covenants, conditions and provisions herein shall be effective or
binding upon such Party unless expressed in writing.

 

		11.3.	Notices. Unless otherwise specified herein, all notices, consents, and approvals must be in writing and delivered personally
or sent by overnight or certified mail, postage prepaid, or sent electronically (fax or e-mail) with the means to confirm or verify receipt,
to the address of the recipient designated herein, to the attention of the undersigned, or such other address or addressee as the recipient
has given the sender in writing.

 

	If to Provider:	 	 
	CO NAME:	 	Codere Apuestas España S.L.U and Codere Newco S.A.
	ADDRESS:	 	Avenida Bruselas 26
	 	 	28108 Alcobendas (Madrid) España
	PERSON:	 	Angel Corzo Uceda
	EMAIL:	 	angel.corzo@codere.com
	 	 	 
	If to the Company:	 	 
	CO NAME:	 	Codere Online Management Services Limited
	ADDRESS:	 	Level 3 (Suite no. 2265), Tower Business Centre, Tower Street,
	 	 	Swatar BKR 4013, Malta
	PERSON:	 	COO Moshe Edree/ CFO Gonzalo de Osma Bucero
	EMAIL:	 	moshe.edree@codere.com / gonzalo.deosma@gmail.com

 

		11.4.	Governing Law and Jurisdiction: This Agreement shall be governed by and construed in accordance with the internal laws of the
Kingdom of Spain (Derecho común español). This Agreement, and any disputes arising out of or in connection with it,
its subject matter, existence, negotiation, validity, termination or enforceability (including non-contractual disputes or claims) and
including all matters of constructions, interpretation, validity and performance will in all respects be finally settled by the Courts
of the City of Madrid.

 

		11.5.	Assignment. This Agreement shall be binding on and inure for the benefit of the successors and permitted assignees of the Parties.

 

This Agreement shall not be assigned by either Party without
the prior written consent of the other Party, except (i) in the case of assignment to a Person that is such Party’s successor by
merger, consolidation or purchase of assets, in which case the successor shall be bound under this Agreement and by the terms of the assignment
in the same manner as such Party is bound under this Agreement, or (iii) to an Affiliate of such Party, in which case the Affiliate or
assignee shall be bound under this Agreement and by the terms of the assignment in the same manner as such Party is bound under this Agreement.
of assets, in which case the successor shall be bound under this Agreement and by the terms of the assignment in the same manner as such
Services Recipient is bound under this Agreement.

 

    	 	14	 

     

    

 

Any purported assignment of this Agreement in violation of
this Section 11.5 shall be null and void.

 

		11.6.	Counterparts. This Agreement may be signed in counterparts and each of such counterparts will constitute an original document
and such counterparts, taken together, will constitute one and the same instrument.

 

		11.7.	Amendments. The Parties agree that this Agreement cannot be altered, amended or modified, except in writing which is signed
by an authorized representative of both Parties.

 

		11.8.	Preservation of Remedies: Termination of this Agreement is without prejudice to the rights of either party with regard to a
breach by the other party of this Agreement, or any obligation surviving termination or expiration of this Agreement. Full legal remedies
remain available for any such breach or continuing obligation, including the right to recover damages or to secure other appropriate relief.

 

		11.9.	Invalidity of Provisions: Each of the provisions contained in this Agreement is distinct and severable and a declaration of
invalidity or unenforceability of any such provision or part thereof by a court of competent jurisdiction will not affect the validity
or enforceability of any other provision hereof. To the extent permitted by applicable Law, the parties hereto waive any provision of
Law which renders any provision of this Agreement invalid or unenforceable in any respect. The parties hereto will engage in good faith
negotiations to replace any provision which is declared invalid or unenforceable with a valid and enforceable provision, the economic
effect of which comes as close as possible to that of the invalid or unenforceable provision which it replaces.

  

		11.10.	Entire Agreement: This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter
of this Agreement. There are no warranties, conditions, or representations (including any that may be implied by statute) and there are
no agreements in connection with such subject matter except as specifically set forth or referred to in this Agreement. No reliance is
placed on any warranty, representation, opinion, advice or assertion of fact made either prior to, contemporaneous with, or after entering
into this Agreement, by any party to this Agreement or its directors, officers, employees or agents, to any other party to this Agreement
or its directors, officers, employees or agents, except to the extent that the same has been reduced to writing and included as a term
of this Agreement, and none of the parties to this Agreement has been induced to enter into this Agreement by reason of any such warranty,
representation, opinion, advice or assertion of fact. Accordingly, there will be no liability, either in tort or in contract, assessed
in relation to any such warranty, representation, opinion, advice or assertion of fact, except to the extent contemplated above.

 

		11.11.	Further Assurances: Each of the parties hereto will promptly do, make, execute or deliver, or cause to be done, made, executed
or delivered, all such further acts, documents and things as the other party hereto may reasonably require from time to time for the purpose
of giving effect to this Agreement and will use reasonable efforts and take all such steps as may be reasonably within its power to implement
to their full extent the provisions of this Agreement.

 

		11.12.	Enurement: This Agreement will enure to the benefit of and be binding upon the parties hereto and their respective successors
and permitted assigns.

 

    	 	15	 

     

    

 

IN WITNESS WHEREOF, the Parties have duly signed and executed
this Agreement as of the date first above written.

 

(1) PROVIDER:

 

	/s/ Angel Corzo Uceda	 
	By:	Codere Apuestas España S.L.U.	 
	Name:	Angel Corzo Uceda	 
	Title:	Director	 
	 	 	 
	(2) PROVIDER:	 
	 	 
	/s/ Vicente Di Loreto	 
	By:	Codere Newco S.A.U	 
	Name:	Vicente Di Loreto	 
	Title:	Authorised Signatory	 
	 	 	 
	(3) THE COMPANY:	 
	 	 	 
	/s/ Moshe Edree	 
	By:	Codere Online Management Services LTD	 
	Name:	Moshe Edree	 
	Title:	Director	 
	 	 	 
	/s/ Gonzalo de Osma Bucero	 
	By:	Codere Online Management Services LTD	 
	Name:	Gonzalo de Osma Bucero	 
	Title:	Director	 

 

    	 	16	 

     

    

 

Schedule A

 

Platform Services and Prices for 2021

 

	Service Provider: 	The services will be provided indistinctly by CAES and/or CNEW
	Customer:	OMSE

 

	Figures in EUR	 	Type of invoicing	Budget 2021
	Services provided	Service Description 	Re-invoicing of personnel cost	Fixed	Variable	Sub-Total	Mark-up	Total
	General Costs 	Leasing of the building proportional part, travel expenses, training, office supplies, cost of external auditors of the companies.	
     

    -
	
     

    16,561
	
     

    21,338
	
     

    37,899
	
     

    No
	
     

    37,899

	Personnel (Codere Internal)	Maintenance, evolution of the applications, infrastructures and security services for the online platform carried out by internal Parent Group teams.	Cost of the fully dedicated teams to Codere Online and the effective allocation of mixed teams (providing services to Online and Retail).	
     

    1,525,181
	
     

    -
	
     

    1,525,181
	
     

    Yes
	
     

    1,601,745

	Customer Support Services Personnel Costs	Customer support service provided by internal Parent Group team to Codere Online	Cost of the fully dedicated teams to Codere Online and the effective allocation of mixed teams (providing services to online and retail).	
     

    486,517
	
     

    -
	
     

    486,517
	
     

    Yes
	
     

    510,940

	Internal Trading Personnel	Parent Group’s trading & risk team is responsible for building, publishing, and managing the sports betting offering.	Cost of the fully dedicated teams to Codere Online and the effective allocation of mixed teams providing services to online and retail.	1,431,133	-	1,431,133	
     

    Yes
	
     

    1,502,976

 

    	 	17	 

     

    

 

	Technical Assistance and Technology Services 	Maintenance and evolution of the applications and features for the Online Gaming Platform carried out by external teams.	External professional services (third parties) contracted by Parent Group for maintenance and evolution of the Online Gaming Platform.	

                                                                                 

                                                                                476,881
	

                                                                                 

                                                                                623,079
	

                                                                                 

                                                                                1,099,960
	
     

    Yes
	
     

    1,155,178

	IT Operations Services	Maintenance, improvements and operation of the infrastructures and communications systems on which the Online Gaming Platform is based.	External professional services (third parties) contracted by Parent Group for maintenance and evolution of the Online Gaming Platform.	

                                                                                 

                                                                                23,975
	

                                                                                 

                                                                                395,380
	

                                                                                 

                                                                                419,355
	
     

    Yes
	
     

    440,407

	Security & Cybersecurity Services	Security and cybersecurity services that are needed for the Online Gaming Platform.	External professional services (third parties) contracted by Codere Group for maintenance and evolution of the Online Gaming Platform.	

                                                                                 

                                                                                69,123
	

                                                                                 

                                                                                68,424
	

                                                                                 

                                                                                137,547
	
     

    Yes
	
     

    144,452

	Systems	Hardware both acquired, leased or contracted as SaaS or Cloud format such us CPDs, storage and servers.	Re-invoicing of electronic products and services.	

                                                                                 

                                                                                1,924
	

                                                                                 

                                                                                597,584
	

                                                                                 

                                                                                599,508
	
     

    No
	
     

    599,508

	Communications	Cost telephone / Internet lines, switches, network electronics, navigation management (Proxy), firewalls, International WAN, VPNs among other.	
    Re-invoicing of electronic products and services.

     

     

     

     

     

     
	

                                                                                 

                                                                                228,648
	

                                                                                 

                                                                                29,090
	

                                                                                 

                                                                                257,738
	
     

    No
	
     

    257,738

	Equipment	IT equipment renewal (computers, telephones, screens, etc.)	Upon request and only focused for the team located in Alcobendas.	 	
     

    1,056
	
     

    1,056
	
     

    No
	
     

    1,056

 

    	 	18	 

     

    

 

	Software License	Software licenses in SaaS or purchase mode:

1) Base infrastructure software (server operating systems)

2) Application software (Dynamics, SharePoint)

3) Security software (Antivirus),

4) Workstation software (Office 365)	Re-invoicing of services and electronic products purchases.	

                                                                                 

                                                                                99,383
	
     

    111,767
	
     

    211,150
	
     

    No
	
     

    211,150

	Trading	Feed providers that are not billing Codere Online directly such as:

- Sportradar (Fixed)

- Betradar (variable)	Re-invoicing of services provided.	
     

    7,888
	
     

    169,001
	
     

    176,889
	
     

    No
	
     

    176,889

	Total	 	 	 	4,367,214	2,016,719	6,383,933	6,639,938

 

	Budget 2021
	Other	 	Type of invoicing	Fixed	Variable	Sub-Total	Mark-up	Total
	Other services not included / or on demand projects.	Services or development projects not included above may be requested by Codere Online. 	Both parties will negotiate and mutually agree on specific budgeted projects. 	TBD	TBD	TBD	Yes	TBD

 

    	 	19	 

     

    

 

Schedule B

 

Services and Service
Level Agreement

 

This Service Level Agreement (this: “SLA”)
is made and signed as of the same date as the Agreement (as defined above)

 

		1.	Maintenance and Support Services

 

		1.1.	This Schedule B shall enter into force 30 days following the signing of the Agreement.

 

		1.2.	The account manager or a suitable representative of Provider shall meet (either by way of telephone conference
or in person) on a regular basis with the suitable representative of Company.

 

		1.3.	Technical support personnel shall be available to Company to provide maintenance and support services and
answer technical questions in relation to, and assist Company to correctly utilize, the Licensed Software on a 24 hours per day, 7 days
per week basis, such availability to be by way of telephone or by email request to member of Provider ‘s technical support team.

 

		1.4.	Provider agrees to cooperate faithfully without reservation with Company and its personnel providing access
to the necessary system information and assistance for the full prompt performance of the service level agreement evaluation.

 

		2.	Definitions

 

In addition to the definitions set out
in the main body of the Agreement which apply in this Schedule B, the following definitions shall apply:

 

		2.1.	“Availability” means, in each calendar month during the Term (prorated where applicable),
the following calculation: (Actual Availability ÷ Available Minutes) x 100, where:

 

		●	“Available Minutes” means the total number
of minutes in the relevant calendar month (for example, 44,640 in a thirty one (31) day month) less the Exclusions Events set forth in
Section 7 below;

		 	 

		●	“Unavailability” means the total number
of minutes in the relevant calendar month, measured from the time that the Company reports an incident concerning Availability, where
the Licensed Software is completely unavailable to end users due to a Priority A Defect; and

		 	 

		●	“Actual Availability” means Available Minutes
minus Unavailability in a calendar month.

 

		2.2.	“Back Office Systems” means facilities whereby Company can obtain access for the purpose
of Company’s monitoring its End Users’ activity for the purpose of customer service, management and reconciliation.

 

		2.3.	“Defect Correction” means either a bug fix, work-around, patch, or other modification
or addition that brings the Licensed Software into conformity with the Documentation and applicable specifications.

 

		2.4.	“Emergency Maintenance” means any maintenance work (not being Planned Maintenance) which
Provider reasonably determines is urgently required, and which could not be carried out as Planned Maintenance.

 

		2.5.	“Planned Maintenance” means routine upgrades, repairs, maintenance, replacements, regulatory
inspections or other work on any systems, hardware or software used in connection with the provision and operation of the Licensed Software
which Provider reasonably deems to be necessary; and which activity necessitates such Licensed Software to be unavailable for use or suffer
a degradation of its usability, utility or functionality, provided that Provider has given prior notice of such activity to Company in
accordance with the terms of this Schedule.

 

    	 	20	 

     

    

 

		2.6.	“Priority A Defect” means a defect that renders Licensed Software inoperative or causes
a complete failure of the Licensed Software in such a way that the Licensed Software is completely not available for all End Users. For
example: no casino games can be accessed by any End Users.

 

		2.7.	“Priority B Defect” means a defect that substantially degrades the operation, function
or performance of the Licensed Software, in such way that all ‘back office’ features are completely inoperative or no progressive
jackpot games can be accessed by any End Users.

 

		2.8.	“Priority C Defect” means a Defect that causes only a minor impact on the End User’s
use of Licensed Software and which is not a Priority A Defect or a Priority B Defect.

 

		2.9.	“Maximum Response Time” means Provider ‘s response time to Company’s notification
as set forth in Section 3

 

		2.10.	“Maximum Recovering Time” or “MRT” means Provider ‘s maximum
recovery time as set forth in Section 4.

 

		2.11.	“Notification” means notification by either party of a defect by telephone and email to
the contact for each party nominated in the escalation procedure document which forms part of the documentation.

 

		2.12.	“Bet Placement Time” means the time between a bet placement request reaches the method
“DoPlaceBet” and the time that method responds.

 

		2.13.	“Average Bet Placement Time” means the average Bet Placement Time of all successfully
processed bet placement attempts during a defined interval.

 

		2.14.	“System Performance” is measured by the “Average Bet Placement Time” for each
full hour starting each day at 00:00:00 (e.g. 03:00:00 to 03:59:59).

 

		2.15.	“Prime Time” list of days and hours of the month in which sporting events are held with
great impact on bets placement. The list of prime-time days and hours will be provided by Provider one week before the start of the month
of its application.

 

		3.	Service Levels 

 

		3.1.	Provider shall use its reasonable commercial efforts to correct any defect reported by Company in accordance
with the applicable priority levels and Maximum Response Time:

 

		3.1.1.	in the event of Priority A Defect, Provider shall respond to the Notification by Company within 1 (one) hour,
commence verification of the Defect immediately thereafter and, upon verification, shall initiate work to provide Company with a Defect
Correction. In the Update that shall follow such Priority A Defect Correction event, Company shall provide Provider with updates on the
status of the Priority A Defect Correction;

 

		3.1.2.	in the event of Priority B Defect, Provider shall respond to the Notification by Company within 1 (one) hour
and shall provide a Defect Correction;

 

		3.1.3.	in the event of Priority C Defect, Provider shall provide a Defect Correction in the next Upgrade.

 

    	 	21	 

     

    

 

		4.	Credits

 

	
    

    Level of Priority
	MRT	
    Credits earned by Company for each failure 

    to adhere to Service Levels

	Prime Time	Rest	Prime Time	Rest
	A	2 elapsed hours from notification to Provider 	4 elapsed hours from notification to Provider 	(The average monthly License Fees received by Provider  for the preceding 3 calendar months / 732 hours) *2.64* the number of hours exceeding the MRT	
    (The average monthly License Fees received by Provider for the preceding
    3 calendar months / 732 hours) *0.33* the number of hours exceeding the MRT

    

	B	4 elapsed hours from notification to Provider 	8 elapsed hours from notification to Provider 	(The average monthly License Fees received by Provider  for the preceding 3 calendar months / 732 hours) *1.20* the number of hours exceeding the MRT	(The average monthly License Fees received by Provider  for the preceding 3 calendar months / 732 hours) *0.15* the number of hours exceeding the MRT
	C	 	 	No credits	No credits

 

For clarification: 732
hours=average monthly days of 30.5 per calendar month * 24 hours

 

		4.1.	Subject always to the provisions of Sections 5 and 6 below, the Credits shall be off-set against any future
Fees otherwise due under Schedule A.

 

		4.2.	Provider ‘s entire liability in respect of any failure on its part to observe the Maximum Response
Time or the Maximum Recovery Time (as the case may be) shall be payment of the above Credits pursuant to this Schedule.

 

		4.3.	The maximum credit payable to Company in any given calendar year shall be capped at the average monthly License
Fees Provider received for the period of the 3 calendar months preceding to the Credit event.

 

		4.4.	System Performance

  

	

 	Average Bet Placement (during a full hour interval) 	Credits (% of monthly Company Fee) per full hour interval
	Prime Time	Rest
	Sports bet placement	> 8 seconds	(The average monthly License Fees received by Provider  for the preceding 3 calendar months / 732 hours) *1.2  	(The average monthly License Fees received by Provider  for the preceding 3 calendar months / 732 hours) *0.15  
	Slot & Casino bet placement	> 1 seconds	(The average monthly License Fees received by Provider  for the preceding 3 calendar months / 732 hours) *1.2  	(The average monthly License Fees received by Provider  for the preceding 3 calendar months / 732 hours) *0.15  

 

If the Average Bet Placement
Time (during a full hour interval) is greater than 12 seconds (“Bet Latency”), then the Licensed Software shall be
deemed unavailable for the purpose of this Service Level Agreement for the duration of the Bet Latency.

 

Service credits will
be due for each interval as outlined in the table above excluding any interval that is also considered a Priority A or B Defect.

 

Service credits due to
System Performance do not imply that the System was not available at that time.

 

    	 	22	 

     

    

 

		4.5.	System Availability

 

	 	Monthly Licensed Software Availability	Discount to be applied on the invoice for the respective calendar month in which the Availability Levels triggered the discount (% of monthly License Fee)
	< 	>=
	Level 1	100,00%	99,50%	0%
	Level 2	99,50%	99,00%	3%
	Level 3	99,00%	98,00%	10%
	Level 4	98,00%	97,00%	15%
	Level 5	97,00%	95,00%	20%
	Level 6	95,00%	90,00%	30%
	Level 7	90,00%	80,00%	40%
	Level 8	80,00%	70,00%	50%
	Level 9	70,00%	0,00%	100%

 

		4.6.	To the extent that Company, acting in good faith and having sufficient evidence that Company is entitled
to any Credits under this Section 4, Company will provide Provider with a written proposal of due Credits for each month by the end of
the third business day of the immediately following month. If such written proposal was not provided by Company to Provider within 3 business
days (or from when Provider provides the required system management information if later) no penalties are due. If the proposal was sent,
Provider will set up a meeting for further discussions, in which case no Credits will be due until the Parties reach a written agreement
in connection therewith.

 

		5.	Updates and Maintenance

 

		5.1.	Provider shall communicate through email at least twenty-four (24) hours in advance of any Planned Maintenance.
In the event that Emergency Maintenance is necessary, Provider will use its best efforts to communicate prior notice to Company.

 

		5.2.	Provider shall use commercially reasonable efforts to limit Planned Maintenance that will affect the availability
of the Products to End Users.

 

		5.3.	Company will give Provider at least forty-eight (48) hours’ notice by email to the respective account
manager or customer relations representative of patches, system upgrades and updates to their own infrastructure, where such works are
likely to have an impact on Provider .

 

		6.	Customer Services

 

		6.1.	Within
                                            its services the Provider shall assist and provide Customer Services to the Company’s
                                            end users, among others, in the following areas: 

 

		6.1.1.	Provision
                                            of information regarding the use of the Platform and/or Omnichanel services

 

		6.1.2.	Payment
                                            methods and procedures, both on deposits and withdrawals; 

 

		6.1.3.	Promotions
                                            information; 

 

		6.1.4.	Verification
                                            of documents or compliance procedures;

 

		6.1.5.	Procedures
                                            and assistance in opening, closing or freezing an end user account; 

 

		6.1.6.	General
                                            assistance in incidents that araise on the operation of the Platform 

 

    	 	23	 

     

    

 

		6.2.	For
                                            the evaluation of the efficacy of the Customer Services the following indicators shall be
                                            applied:

  

	KPI	Target accomplished	Accomplished partially	Target unachieved
	Call Abandonment  Rate (per market)	<7%	8%-10%	>10%
	Chat Abandonment  Rate (per market)	<10%	11%-15%	>15%
	% of calls answered in less than 30 seconds (per market)	>80%	80%-75%	<75%
	% of chats answered in less than 2 minutes (per market)	>80%	80%-75%	<75%
	% of emails answered in less than 48 hours (per market)	>80%	80%-75%	<75%
	Email response time	from 4  to 24 hours	 	 
	Perceived service quality index (calls/per market)	>8	8-7	<7
	Perceived service quality index (chats/per market)	>7	7-6	<6
	Data	 
	Average waiting time (calls/ per market)	< 45s	46s-90s	>90s
	Average wating time (chat/per market)	< 30s	30s-60s	>60s
	Average Handle time (calls/ per market)	< 4:45	4:46-5:30	>5:30
	Average Handle time (chats/ per market)	< 10:00	10:01-10:30	>10:30

 

	Call abandonment Rate =	
    

    No of inbound calls when customers
    hung up before their calls get answered
	X100

	
    No. Of inbound calls made by customers

    

 

	Chat abandonment Rate =	No of chats abandoned before the chats get answered	X100

	No of inbound chats open by customers

 

Perceived service quality index
(calls/per market) = Average of customers ratings after the call. Call Switchboard rating tool. Perceived service quality index (chats/per
market) =Average of customers ratings after the chat. Chat rating tool.

 

		7.	Exclusions

 

No Service Levels and/or Credits shall
apply to any failure of Provider to comply with the Service Level, or to any Defect of any priority, caused, in whole or part, by any
of the following exclusion events:

 

		7.1.	any decreased availability or scheduled downtime due to Planned and/or Emergency Maintenance;

 

		7.2.	a failure of third-party equipment, hardware and/or software;

 

    	 	24	 

     

    

 

		7.3.	a failure in local access facilities connecting Company to the network;

 

		7.4.	force majeure events;

 

		7.5.	any act or omission of Company or any of Company’s third parties (including but not limited to, Company’s
agents, contractors or vendors), including, but not limited to (i) failing to provide Provider with the adequate access, information and
cooperation required in connection with the provision of the Licensed Software; (ii) failing to take any reasonable remedial action in
relation to the Licensed Software as recommended in writing by Provider (or any of its agents, contractors or vendors), or otherwise preventing
Provider from doing so, or (iii) any act or omission which causes Provider to be unable to meet any of the service level provisions (including
but not limited to deliberate or willful acts or omissions which are purposed to fail Provider from meeting its obligations under the
Agreement);

 

		7.6.	fraud events (by Company and/or any third party engaged by Company), except if it is motivated by a vulnerability
in the Provider platform;

 

		7.7.	Company’s negligence or willful misconduct; or

 

		7.8.	Any DDOS (denial-of-service) attack.

 

		8.	Termination for breach of the Service Levels

 

Company may terminate
the Agreement by giving Provider thirty (30) days’ prior written notice if Availability of the Licensed Software is below 80% in
any three (3) consecutive calendar months.

  

    	 	25	 

     

    

 

SCHEDULE C

 

The Parties agree to incorporate the following Data Processing Agreement,
which shall regulate any of the services covered by this Schedule that involve the processing of personal data and which shall be governed
by the following,

 

STIPULATIONS

 

CODERE ONLINE MANAGEMENT SERVICES LIMITED, hereinafter, the
DATA PROCESSOR, with its own functions, rights and obligations, and CODERE APUESTAS ESPAÑA S.L. and CODERE NEWCO S.A., hereinafter,
the DATA SUBPROCESSORS -or DATA SUBPROCESSOR-, with its own functions, rights and obligations.

 

RESOLVE THAT

 

		I.	Whereas DATA SUBPROCESSORS, by providing to DATA PROCESSOR the
services established in SCHEDULE A (hereinafter the “Services”), may access and process certain personal data owned by DATA
CONTROLLER on behalf of DATA PROCESSOR’s instructions.

		 	 

		II.	Whereas, in order to comply with the regulation about personal
data and to Regulation (EU) 2016/769 of the European Parliament and Council of 27 April 2016 on the protection of natural persons with
regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (hereinafter, “GDPR”),
the Parties sign this Data Processing Agreement (hereinafter, “Schedule”), which includes the following:

 

TERMS AND CONDITIONS

 

DEFINITIONS

 

		-	“Controller” or “Data Controller”:
means the natural or legal person, public authority, organisation, agency or any other body which alone or jointly with others determines
the purposes and means of the processing of Personal Data;

		 	 

		-	“Data Protection Laws and Regulations”:
means all applicable laws and regulations of the European Union, the European Economic Area and/or the relevant implementing law of any
such member state, in particular the data protection legislation of the countries where the Data Controller is established to conduct
the business to which the Services are related, and with respect to any other country, any applicable data protection or data privacy
legislation;

		 	 

		-	“Data Subject”: means an identified or
identifiable person to whom the Personal Data relate;

		 	 

		-	“Documentation”: means all and any user
guides and operating or other similar manuals and/or documentation, provided in hard copy or soft copy, necessary to enable the Data
Controller to make full and proper use of the System or the Service;

		 	 

		-	“Personal Data”: means any information
relating to an identified or identifiable natural person (as defined under Regulation (EU) 2016/679 of the European Parliament and of
the Council, as replaced from time to time, also known as Personal Identifiable Information under other legislations). This includes
information that can be linked, directly or indirectly, to a natural person; an identifiable person is one who can be identified, directly
or indirectly, in particular by reference to an identification number or using all means which can reasonably be used by the Data Controller
or a Third Party to identify a natural person (e.g. one or more factors specific to his physical, physiological, mental, economic, cultural
or social identity);

 

    	 	26	 

     

    

  

		-	“Processing of Personal Data”: means any
operation or set of operations which is performed upon Personal Data, whether or not by automatic means, such as collection, recording,
organisation, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise
making available, alignment or combination, blocking, erasure or destruction;

		 	 

		-	“Processor” or “Data Processor”:
means the natural or legal person, public authority, agency or any other body which processes Personal Data on behalf of the Controller
and according to its written instructions;

		 	 

		-	“Subprocessor” or “Data Subprocessor”:
means the natural or legal person, public authority, agency or any other body which processes Personal Data on behalf of the Processor
and according to its written instructions;

		 	 

		-	“System”: means the electronic information
systems comprising any one or more of hardware, equipment, software, peripherals and communications networks owned, controlled, operated
and/or used by the Provider to supply the Services. It shall not apply to any hardware, equipment, software, peripherals and communications
networks owned by the Client, even in case where the intellectual property of the software licence running on it belongs to the Provider;

 

		1.	PURPOSE.

 

The purpose of this SCHEDULE is to define the conditions under which
DATA SUBPROCESSOR will conduct the processing of personal data for the provision of the service contracted by DATA PROCESSOR, in accordance
with the data protection legislation and Article 28 of the GDPR and related articles.

 

The processing shall be carried out on personal data owned by the DATA
CONTROLLER or held by the latter (hereinafter “personal data”) in accordance with APPENDIX I, in order to provide the
services agreed between the PROCESSOR and SUBPROCESSOR.

 

		2.	OBLIGATIONS OF THE DATA SUBPROCESSORS.

 

The DATA SUBPROCESSOR shall carry out the processing of personal data
resulting from the provision of the contracted service, in accordance with the following obligations:

 

		●	It shall be limited to carrying out the necessary actions to provide DATA PROCESSOR with the contracted Service, in accordance with
the provisions of this Agreement.

 

In particular, it undertakes to carry out the processing
of personal data in accordance with the instructions which, at any time, it receives from the DATA PROCESSOR or directly from DATA CONTROLLER,
as well as with the provisions of the rules applicable to personal data protection, even when it comes to transfers of personal data to
a third country or to an International Organization, unless it is obliged to do so by virtue of the European Union or Member State Laws
applicable to the DATA PROCESSOR or to the DATA CONTROLER. In such cases, DATA SUBPROCESSOR shall inform DATA PROCESSOR of such legal
requirement prior to the processing.

 

If DATA SUBPROCESSOR considers that any of the instructions
breaches the GDPR or any other data protection provision in the territory of the European Union or that has previously been declared by
the European Union as a country with an adequate level of protection, DATA SUBPROCESSOR shall immediately inform DATA PROCESSOR.

 

    	 	27	 

     

    

 

		●	The DATA SUBPROCESSOR undertakes not to conduct any further processing on personal data, or apply or use the data for any purpose
other than to provide the services referred to in the Agreement.

 

		●	It shall provide the necessary training in the protection of personal data of persons authorized to handle personal data.

 

		●	The DATA SUBPROCESSOR shall keep a written record of all processing activities carried out by and on behalf of DATA PROCESSOR, containing:

 

		o	The name and contact data of the DATA PROCESSOR and the DATA SUBPROCESSOR and, as applicable, of the representatives of the DATA PROCESSOR
and the DATA SUBPROCESSOR, and, if necessary, of the data protection officer.

 

		o	The description of the categories of the processed personal data.

 

		o	Transfers of personal data to other countries or international organizations, as the case may be, including the name of the country
or international organization and documentation containing the appropriate guarantees.

 

		o	A general description of the technical and organizational security measures in relation to:

 

		§	The pseudonymisation and encryption of personal data.

 

		§	The capacity to guarantee permanent confidentiality, integrity, availability and resilience of the processing systems and services.

 

		§	The capacity to rapidly restore the availability and access to personal data in the event of a physical or technical incident.

 

		§	The regular checking, assessment and valuation process regarding the efficacy of the technical and organizational measures to guarantee
security during processing.

 

		●	The DATA SUBPROCESSOR undertakes to keep, under its control and custody, the personal data provided by DATA PROCESSOR to which it
has access to provide the Service and not to disclose, transfer, or otherwise communicate the data to third parties, even for conservation
purposes, except with the express authorization of the DATA PROCESSOR, in the legally admissible cases.

 

		●	It shall support DATA PROCESSOR or DATA CONTROLLER in carrying out impact assessments concerning data protection and prior consultations
for the competent Control Authorities, where appropriate, on all or any of the processing deriving from the provision of the service.

 

		●	It shall make available to DATA PROCESSOR or DATA CONTROLLER all information necessary to demonstrate compliance with its obligations,
as well as to enable and actively assist in the conduct of audits or inspections carried out by DATA PROCESSOR, DATA CONTROLLER or other
auditor authorized by the latter, as detailed in Clause 5.

 

		●	Inform in writing and prior to the start of the Service to the PROCESSOR of all the implications in relation to the processing of
personal data that may arise from the execution and development of the services contracted

 

		●	Upon request of the DATA PROCESSOR, the DATA SUBPROCESSOR shall provide, by way of illustration only and not limitation, the following
information/documentation:

 

		o	The certificates, duly updated, referred to in Article 42 of the GDPR and obtained by the DATA SUBPROCESSOR.

  

    	 	28	 

     

    

 

		o	The information related to the adherence of the DATA SUBPROCESSOR to Codes of Conduct.

 

		o	The certificates and standards that, regarding information security, the DATA SUBPROCESSOR has obtained.

 

		o	The internal or external audit reports on data protection and/or information security carried out by the DATA SUBPROCESSOR.

 

		o	The protocols, policies, manuals and procedures that regulate the data processing by the DATA SUBPROCESSOR.

 

		o	If applicable, a list specifying the controls and indicators implemented in the information systems used by the DATA SUBPROCESSOR.

 

		●	When necessary, it shall designate a data protection officer and communicate the name and contact data of that person to the DATA
PROCESSOR.

 

		3.	PERSONAL DATA SECURITY.

 

The DATA SUBPROCESSOR will implement
the security measures and mechanisms set out in Article 32 of the GDPR to:

 

		-	Guarantee the permanent confidentiality, integrity, availability and permanent resilience of processing systems and services.

 

		-	Rapidly restore availability and access to personal data quickly, in the event of physical or technical incidents.

 

		-	Regularly verify, assess and evaluate, on a regular basis, the effectiveness of the technical and organizational measures implemented
to ensure the security of processing.

 

		-	Pseudonymize and encrypt personal data, as required.

 

To this end, the DATA SUBPROCESSOR undertakes to implement at least
the security measures described in APPENDIX 2 of this Agreement, without prejudice to any additional measures deemed necessary to comply
with the provisions of art.32 GDPR.

 

		4.	Compliance verification
measures

 

Audit request

 

For the purposes of checking the level of compliance by the DATA SUBPROCESSOR
with the terms set forth in the applicable legislation and in this Agreement, the DATA PROCESSOR may request the performing of audits,
alone or through an independent auditor authorised by the DATA SUBPROCESSOR.

 

Audit notification

 

The DATA PROCESSOR shall notify the DATA SUBPROCESSOR through any channel
of its wish to perform such audits at least five (5) working days before the planned audit date.

 

Information requests

 

The DATA PROCESSOR may ask the DATA SUBPROCESSOR for the necessary
information to evaluate its level of compliance, and, in particular, evidence of compliance with the provisions of the legislation applicable
to the present Agreement.

 

    	 	29	 

     

    

 

By way of example, and without limit, at the request of the DATA PROCESSOR,
the DATA SUBPROCESSOR shall provide the following information/documentation:

 

		●	The duly-updated certificates set out in Article 42 of the GDPR,
in the event of obtaining such certificates, and submission of the audit reports it is obliged to present in accordance with said certificates.

		 	 

		●	In the event that the DATA SUBPROCESSOR has declared its adherence
to Codes of Conduct, the data related to its adhesion.

		 	 

		●	Certificates and standards held by the DATA SUBPROCESSOR in
relation to information security.

		 	 

		●	Internal or external audit reports prepared by the DATA SUBPROCESSOR
regarding data protection and/or information security.

		 	 

		●	Protocols, policies, manuals and procedures regulating the data
processing activities of the DATA SUBPROCESSOR.

		 	 

		●	A list specifying the controls and indicators implemented in
the information systems used by the DATA SUBPROCESSOR.

 

Duty to cooperate

 

The DATA SUBPROCESSOR shall cooperate diligently and facilitate access
to and the obtaining of the necessary information in response to the needs of the DATA PROCESSOR. The evidence and documentation obtained
during the audit shall be stored in a repository owned by the DATA SUBPROCESSOR to guarantee the non-disclosure and security of the information,
in keeping with the present state of technology.

 

Audit result

 

If, as a consequence of the audit, the DATA PROCESSOR detects any breach,
pursuant to applicable law and the terms of the present Agreement, it may, at its sole discretion and depending on the gravity of the
breach:

 

		●	Request the DATA SUBPROCESSOR to remedy the detected breach
immediately by preparing a correction plan which shall be implemented within a certain time not exceeding one month, and the DATA SUBPROCESSOR
shall provide the DATA PROCESSOR with evidence accrediting the resolution thereof.

		 	 

		●	Proceed to the early termination of the Services Agreement.
In this case, the DATA SUBPROCESSOR shall return to the DATA PROCESSOR the proportional part of the amounts received for all services
not effectively provided.

 

		5.	DATA LOCATION

 

The DATA SUBPROCESSOR shall guarantee the DATA PROCESSOR the ability
to choose the place where the personal data processed in connection with the provision of the service will be stored, and specifically,
shall guarantee the choice of Data Processing Centers located within the European Economic Area (hereinafter EEA).

 

Alternatively, the DATA SUBPROCESSOR may offer the DATA PROCESSOR who
at its sole discretion may accept or reject it, the possibility of locating the data in Data Processing Centers located outside the European
Economic Area (“EEA”), on the basis of the signature of standard data protection clauses adopted by the European Commission
on international transfers, or the adoption of other appropriate guarantees provided for in the applicable regulations.

 

Finally, the DATA SUBPROCESSOR shall assume the obligation to inform
at all times the DATA PROCESSOR of the transfers of personal data that may be destined to countries located outside the EEA in connection
with the provision of the contracted service.

  

    	 	30	 

     

    

 

		6.	DATA BREACHES NOTIFICATIONS

 

The DATA SUBPROCESSOR shall notify DATA PROCESSOR, without undue delay
and, in any case, before the maximum deadline of twenty-four (24) hours, of any breaches to the security of the personal data in its possession
of which it is aware, including all relevant information for documenting and reporting the incident.

 

Pursuant to the aforementioned, the DATA SUBPROCESSOR shall provide
at least the following information:

 

		a)	Description of the nature of the personal data security breach, including the categories and the approximate number of parties concerned,
and the categories and approximate number of personal data records affected.

 

		b)	The name and contact details of its Data Protection Officer and/or Legal Representative who can provide more information.

 

		c)	Description of the possible consequences of a personal data security breach.

 

		d)	Description of measures taken or proposals to remedy the personal data security breach, including, where appropriate, measures taken
to mitigate possible negative effects.

 

If it is not possible to provide information simultaneously, and to
the extent that it is not provided, the information will be made available gradually without undue delay.

 

		7.	ADHERENCE TO CODES OF CONDUCT OR CERTIFICATION MECHANISM. 

 

In case the DATA SUBPROCESSOR has joined Certification Mechanisms (e.g.
ISO, LEET, etc.), which demonstrate the existence of sufficient safeguards to ensure the security of the information processed and the
rights of the data subjects, the DATA PROCESSOR will attach the supporting documentation to this document as an appendix.

 

		8.	INTERNATIONAL DATA TRANSFERS.

 

Pursuant to this Agreement, Personal
Data may be transferred outside the European Economic Area, subject to the obligations and safeguards set forth in the GDPR, for the correct
development of the service. This International transfer will be count on one of the following guarantees:

 

		a)	The country of destination has an adequacy decision from the European Commission.

 

		b)	Standard Contractual Clauses, from the European Commission or a Control Authority.

 

		c)	Binding Corporate Rules, approved by a supervisory authority.

 

		d)	Authorization by a supervisory authority.

 

The Parties, unless another guarantee
is used to legitimize the transfer, expressly agree to accept, complete in accordance with the service and sign the Standard Contractual
Clauses, adopted by the Commission Decision of 5th February 2010 on standard contractual clauses for the transfer of personal data to
processors established in third countries under Directive 95/46/EC of the European Parliament and of the Council, attached in APPENDIX
V to this Agreement. The signature of the standard contractual clauses is instructed by the DATA CONTROLLER, who authorizes and entrusts
the DATA PROCESSOR to regularize the transfer with the DATA SUBPROCESSOR.

 

It will be the responsibility of the DATA PROCESSOR to assess whether
the level of protection required by the GDPR is respected in the destination country, in order to determine whether the safeguards can
be met in practice. In the event that the DATA PROCESSOR considers that the country of destination fails to provide the necessary safeguards,
the Parties will apply the additional measures set out in APPENDIX IV to ensure an equivalent level of protection as required by
the GDPR. The DATA PROCESSOR may contact the DATA SUBPROCESSOR to jointly analyses the legislation of the destination country and verify
that it does not undermine the additional measures.

 

    	 	31	 

     

    

 

		9.	CONFIDENTIALITY OBLIGATION.

 

The obligation of secrecy and confidentiality
resulting from this Schedule obliges the DATA SUBPROCESSOR, during its period of validity, and extended, depending on the type of information
processed, throughout the maximum terms provided for in current legislation that may apply.

 

The DATA SUBPROCESSOR shall ensure
that persons authorized to process personal data are committed, expressly and in writing, to comply with confidentiality and to comply
with the relevant security measures, which DATA PROCESSOR shall report appropriately. The DATA SUBPROCESSOR shall provide DATA PROCESSOR
or DATA CONTROLLER with the documentation certifying compliance with this obligation.

 

Authorized persons mean any individual
or legal entity with access to the data processed irrespective of the contractual relationship binding him/her with DATA SUBPROCESSOR.

 

		10.	INFORMATION OBLIGATION.

 

If the DATA SUBPROCESSOR obtains
personal data on behalf of the DATA PROCESSOR, the DATA SUBPROCESSOR shall process the data in accordance with the instructions of the
DATA PROCESSOR, in accordance with the drafting and format indicated by the latter.

 

		11.	OBLIGATION TO RETURN OR DESTROY DATA

 

Once the provision of the Service
object of the Service Agreement has been completed, the DATA SUBPROCESSOR undertakes to return to the DATA PROCESSOR or to the person
determined by the latter any information containing personal data that has been transmitted by the DATA PROCESSOR to the DATA SUBPROCESSOR
in connection with the provision of the Service, as well as to deliver any other personal data that the DATA PROCESSOR has had to collect
as a consequence of the rendering of the contracted Services and, if applicable, the records of the consents obtained.

 

The return shall imply the delivery
or making available of the processed data in a format of common use and in such a way that, once its return is completed, the TREATMENT
CONTROLLER does not have any dependence on the systems or tools of the TREATMENT CONTROLLER. Likewise, the return shall imply the delivery
or making available of the original media, which in turn were delivered or made available by the TREATMENT CONTROLLER on the occasion
of the provision of the Service, in which personal data are stored or contained.

 

Once the return process has been
completed, the DATA SUBPROCESSOR shall proceed to the destruction of the data existing in the computer equipment and other media used
by him/her for which he/she shall apply the appropriate physical and logical measures to ensure that the data incorporated in the different
media are unrecoverable.

 

Notwithstanding the provisions of
the preceding paragraph, the DATA SUBPROCESSOR may keep the data and information processed, duly blocked, in the event that liabilities
may arise from its relationship with the DATA PROCESSOR. Once the statute of limitations period for the actions that motivated the conservation
of the data has elapsed, the DATA SUBPROCESSOR shall proceed to their destruction in the aforementioned manner.

 

    	 	32	 

     

    

 

		12.	SUBCONTRACTING

 

For the purpose of the provision
of the service, the DATA PROCESSOR authorises the DATA SUBPROCESSOR to subcontract the Companies listed in APPENDIX III.

 

In the event that the DATA SUBPROCESSOR
wishes to subcontract other Companies in the future, it must communicate in writing to the DATA PROCESSOR, clearly and unequivocally identifying
the subcontracting company, its contact details and, in the case of an international transfer, the legal basis for such a transfer. Prior
to any processing activity by these other companies, the DATA PROCESSOR will have a period of 15 days to reject the subcontracting, and
in this case the DATA SUBPROCESSOR will have to desist from its intention to subcontract the service or propose a new subcontractor, and
in the event of lack of agreement, will be entitled to terminate the contract between the parties. Once the period of 15 days has expired
without the DATA PROCESSOR having expressed opposition, it will be understood that the DATA PROCESSOR has accepted the notified subcontractor.

 

Prior to outsourcing, in the case
of subcontracting that involves international data transfers to a country outside of European Economic Area (EEA), unless the transfer
is made to a country declared to have an adequate level of protection by the European Commission, it will be the DATA PROCESSOR’s
responsibility to assess whether the level of protection required by the GDPR is respected in the third country, in order to determine
whether the safeguards can be met in practice, such as the Standard Contractual Clauses or Binding Corporate Rules. In the event that
the DATA PROCESSOR considers that the destination country does not meet the appropriate safeguards, the DATA SUBPROCESSOR and the subsequent
DATA SUBPROCESSOR shall implement additional measures as set out in APPENDIX IV to ensure an equivalent level of protection stipulated
in the GDPR. The DATA SUBPROCESSOR may contact the subsequent DATA SUBPROCESSOR to analyse the legislation of its country and check that
it does not affect these additional measures. If the result of the evaluation of the measures is negative and the transferred data do
not have a level of protection substantially equivalent to that guaranteed in the European Economic Area, the DATA PROCESSOR may disallow
the subcontracting.

 

In the event that the DATA PROCESSOR
authorizes the subcontracting, and except for the use of other guarantees to legitimize the transfer, the DATA PROCESSOR entrusts the
DATA SUBPROCESSOR with the formalization, on behalf of the DATA CONTROLLER, of the Standard Contractual Clauses, adopted by the Commission
Decision of 5th February 2010 on standard contractual clauses for the transfer of personal data to processors established in third countries
under Directive 95/46/EC of the European Parliament and of the Council, with the subsequent DATA SUBPROCESSOR, regulating the International
Data Transfers necessary for the proper performance of the obligations set forth in this Agreement entered into between the DATA PROCESSOR
and the DATA SUBPROCESSOR. The DATA PROCESSOR guarantees that has the mandate from the DATA CONTROLLER to regularize international transfers
by means of Standard Contractual Clauses. This mandate will apply to the DATA SUBPROCESSOR carrying out international transfers outside
the EEA.

 

In the event of authorization, the
subcontracting Company, which also has the status of DATA SUBPROCESSOR, is also obliged to comply with the obligations set forth in this
Agreement for DATA SUBPROCESSOR and the instructions which DATA PROCESSOR has set out for DATA SUBPROCESSOR of the provision of the Service.
The DATA SUBPROCESSOR is responsible for contracting with its subsequent Subcontractor under Article 28 of the GDPR, so that the new DATA
SUBPROCESSOR is subject to the same conditions (instructions, obligations, security measures, etc.) and with the same formal requirements
that the latter has in the proper processing of the personal data of DATA PROCESSOR and to guarantee the rights of the persons concerned.

 

In the case of non-compliance by
the Subcontractor of DATA SUBPROCESSOR, DATA SUBPROCESSOR shall remain fully accountable before DATA PROCESSOR in all matters relating
to fulfilling the obligations.

 

    	 	33	 

     

    

 

		13.	RIGHTS OF THE DATA SUBJECTS ON PERSONAL DATA

 

If an individual owning personal data exercises the rights on data
protection before DATA SUBPROCESSOR, DATA SUBPROCESSOR shall work with DATA PROCESSOR or DATA CONTROLLER to address the exercise of the
rights of the persons concerned: Rights of access, rectification, suppression, objection, restriction of processing, data portability
and not to be subject to automated individual decision-making.

 

In this respect, DATA SUBPROCESSOR shall immediately transfer the application
to DATA PROCESSOR and, without further delay, within three (3) working days of its receipt, to enable DATA PROCESSOR to duly resolve such
request. Likewise, it must provide the DATA PROCESSOR with all the information required for the appropriate resolution of the application
and implement the changes that may be necessary as a result of the exercise of rights by the concerned party within the legally established
periods.

 

		14.	OBLIGATIONS OF DATA PROCESSOR 

 

The DATA PROCESSOR is responsible for the following obligations:

 

		●	It shall specify the obligations and guarantees that the DATA SUBPROCESSOR shall implement in order to comply with the data protection
regulation and DATA CONTROLLER’s requirements.

 

		●	It shall allow DATA SUBPROCESSOR the personal data subject to processing in accordance with the GDPR. In this regard, DATA PROCESSOR
declares to have informed, and if necessary, to have obtained the consent of DATA CONTROLLER to carry out the present subcontracting.

 

		●	It shall carry out the analysis of risks that may result from the processing activity to be subject to control and, on the basis of
such analysis, to indicate to the DATA SUBPROCESSOR the technical and organizational measures to be implemented for the provision of the
service subject to processing.

 

		●	It shall carry out, if necessary, an impact assessment on the protection of personal data from the processing operations to be carried
out by DATA SUBPROCESSOR.

 

		●	If necessary, it shall consult the appropriate Supervisory Authorities, where appropriate.

 

		●	It shall ensure, in advance and throughout the processing, compliance with the GDPR by DATA SUBPROCESSOR.

 

		●	It shall oversee data processing carried out by DATA SUBPROCESSOR, including the performance of inspections and audits.

 

		15.	LIABILITIES

 

The DATA SUBPROCESSOR agrees to fulfil the obligations established
in this Agreement and in the applicable legislation, in connection with this SCHEDULE.

 

The DATA SUBPROCESSOR undertakes to keep the DATA PROCESSOR harmless,
assuming all liability in relation to any claim, penalty, cost, loss, third party damage or liability incurred by the DATA PROCESSOR arising
directly or indirectly from the failure of the DATA SUBPROCESSOR (or its subcontractors) to comply with the obligations set forth in this
Schedule and in the regulations in force, in relation to the present processing assignment.

 

    	 	34	 

     

    

 

Based on the foregoing, the DATA PROCESSOR shall be entitled to charge
the resulting amounts to the DATA SUBPROCESSOR, and may proceed to collect them by offsetting the invoices issued by the DATA SUBPROCESSOR
against the DATA PROCESSOR for the provision of the service.

 

Pursuant to the terms of Article
28.10 GDPR and other applicable data protection legislation, if the DATA SUBPROCESSOR breaches the terms of the GDPR by determining the
purposes and means of the processing, it shall be considered to be a controller with respect to such processing.

 

		16.	ENTIRE AGREEMENT AND MODIFICATIONS.

 

This Agreement and the appendixes
attached thereto constitute the entire and complete agreement between the Parties in relation to the object thereof and supersedes all
previous or contemporaneous agreements and negotiations in relation thereto.

 

This Agreement shall only be modified
by means of a written document signed by both Parties.

 

		17.	APPLICABLE LAW AND JURISDICTION.

 

This Agreement shall be governed
by and interpreted in accordance with Spanish law.

 

For the resolution of any issues
and controversies that may arise in relation to this Agreement, the Parties submit to the jurisdiction of the Courts and Tribunals in
the city of Alcobendas -Spain-, waiving their own jurisdiction that may correspond to them by law.

 

and with the intention of entering
into this agreement, the Parties sign this document in duplicate in the place and on the date specified above.

 

    	 	35	 

     

    

 

APPENDIX I: PERSONAL DATA SUBJECT TO PROCESSING

 

CODERE APUESTAS ESPAÑA S.L.

	
     PURPOSE
	To provide de services specified in Schedule A
	
    PROCESSING TO BE 

    CARRIED OUT
	
    ●    Collection

     

    ●    Registry

     

    ●    Structuring

     

    ●    Conservation

     

    ●    Consultation

     

    ●    Communication
    by transmission

     

    ●    Destruction

     

    ●    Conservation

    

	PURPOSE OF PROCESSING 	
    ●    Customer,
    accounting, fiscal and administrative management

     

    ●    Advertising
    and commercial prospecting

     

    ●    Security
    and control of access to buildings

     

    ●    Statistical,
    historical or scientific statistics

    

	DATA TYPE 	
    ●    Identification
    data

     

    ●    Personal
    characteristics

     

    ●    Commercial
    information

     

    ●    Transactions
    in goods or services

    

	DATA OWNERS 	
    ●    Employees

     

    ●    Customers
    and users

     

    ●    Suppliers

 

    	 	36	 

     

    

 

CODERE NEWCO S.A.

	
     PURPOSE
	To provide de services specified in Schedule A
	
    PROCESSING TO BE 

    CARRIED OUT
	
    ●    Collection

     

    ●    Registry

     

    ●    Structuring

     

    ●    Conservation

     

    ●    Consultation

     

    ●    Communication
    by transmission

     

    ●    Destruction

     

    ●    Conservation

	PURPOSE OF PROCESSING 	
    ●    Customer,
    accounting, fiscal and administrative management

     

    ●    Advertising
    and commercial prospecting

     

    ●    Security
    and control of access to buildings

     

    ●    Statistical,
    historical or scientific statistics

	DATA TYPE 	
    ●    Identification
    data

     

    ●    Personal
    characteristics

     

    ●    Commercial
    information

     

    ●    Transactions
    in goods or services

	DATA OWNERS 	
    ●    Employees

     

    ●    Customers
    and users

     

    ●    Suppliers

  

    	 	37	 

     

    

 

APPENDIX II: SECURITY MEASURES

 

		1.1.	It is Parent Group ́s policy that the following information security practices are established, managed, and maintained by any
vendor that has access to Company’s information assets, without exception.

 

Definitions regarding Information Security requirements

 

		2.1.	“Agent” means anyone who, through an agency or contractual relationship, has the authority to view, host, store,
process, transmit, print, endorse or destroy Company’s Information assets.

 

		2.2.	“Contract” means the contract between Provider and Company, to which this document is attached.

 

		2.3.	“Client” is defined as the Company entity involved in the Agreement to which this document is attached.

 

		2.4.	“Company Information Assets” are information assets owned or controlled by Company, including without limitation,
all information and data provided by Company to the Supplier in any form (excluding any information categorized as public use or that
Company provides written permission for disclosure).

 

		2.5.	“Information security” is defined as protection against the loss of confidentiality, integrity and availability
of information assets.

 

		2.6.	“Breach of information security” is defined as an unauthorized act that does not comply with or violates Company’s
information security measures set forth in this Annex regarding Company’s information assets. It also covers the unauthorized use
or disclosure of, or unauthorized access or acquisition of, Company’s information assets.

 

		2.7.	“Information security program” is defined as the collection of policies, standards, procedures and controls, taken
together and implemented by Company or the Supplier, designed to protect the confidentiality, integrity and availability of information
assets.

 

		2.8.	“Information security vulnerability” is defined as a weakness in information security controls that could be exploited
to gain unauthorized access to Company’s information assets.

 

		2.9.	“Physical Security” or “Physically Guaranteed” is defined as the protection of information in
printed form against loss, unauthorized acquisition, access or disclosure during production, storage, distribution, use or destruction.
It also covers the protection of hardware, infrastructure and information technology facilities, as well as the energy or environmental
control utilities used in data processing operations to protect against damage, destruction or misuse of information assets.

 

		2.10.	“Supplier” is defined as any third party that sees, hosts, stores, processes, transmits, prints, backs up or destroys
any Company information asset. It includes all parties, including Agents that Provider may hire to store, transmit, process or destroy
any Parent Group ́s information asset acting on behalf of Provider.

 

Government

 

		3.1.	The contract must detail at least the object, scope, development, support and termination of the service that Provider provides to
Company.

 

		3.2.	Whether or not to allow the supplier to exploit Company’s image, information and experience for the promotion of its products
and/or services, or for any other purpose, clearly establishing the agreed bases and conditions.

 

    	 	38	 

     

    

 

Organization’s roles and responsibilities

 

		4.1.	Provider ́s organization roles and responsibilities must include a chief information security officer, or a comparable
role assigned to one of Provider ́s managers or senior management to be responsible for the establishment, administration, and maintenance
of an information security program. The information security program must include, at least, the practices described in this Annex or
the equivalent of those practices described in this Annex.

 

Non-Disclosure of Company Information Assets

 

		5.1.	Provider ytech acknowledges that unauthorized release or misuse of information assets may cause damage to Company’s and Provider ́s
reputation. Provider will not, and will cause its employees and Agents involved in providing services to the Company not, take any action
or omission that may result in unauthorized release or misuse of Company’s information assets. Any suspicion or act of breach of
information experienced by Provider with Company’s information assets must be reported in writing by Provider to Company within
twenty-four (24) hours of its detection and within the time limit specified by the laws and regulations applicable to the notification
of security breaches.

 

Information Security Framework and Right to Audit

 

		6.1.	Provider ́s information security program should conform to an international standard such as “Code of Practice for Information
Security Management” (ISO/IEC 27002) or Cybersecurity Framework (NIST). In addition to the standards listed here, Provider ́s
information security program must include the practices described in this Annex Provider  ́s information security program must be
reviewed annually or if there is a material change in business practices that may involve a change in the established security policy.

 

		6.2.	Provider must have a Security Regulatory Framework, which must include a penalty code for when breached, thus affecting services offered
to Company.

 

		6.3.	Provider will grant Company, or a third party on Company’s behalf, permission to conduct an audit or assessment of Company ́s
compliance with the requirements of the Information Security Program. Clauses should be established to regulate:

 

		6.3.1.	The execution of future security reviews by Company, or a third party on behalf of Company, with the ability to perform reviews discretionary
manner, without restrictions and without the need for prior notice. For this purpose, Provider will provide the necessary tools, users,
privileges and access

 

		6.3.2.	The delivery to Company of documentation resulting from audits carried out by the supplier or by third parties.

 

		6.4.	Company may carry out audits and reviews as it deems appropriate, at its sole discretion. for the following aspects, without limiting
the verification of others that may be considered necessary:

 

		6.4.1.	Provider ́s Business Continuity Plan (BCP) and Provider ́s Disaster Recovery Plan (DRP) pertaining to or affecting the Company
service, including the BCP procedures as well as the results of tests performed, prior to entry into production and at least annually,
and after any contingency or natural disaster.

 

		6.4.2.	Legislative, normative and regulatory compliance applicable within the scope of the service.

 

		6.4.3.	Risk management process.

 

		6.4.4.	Incident and change management process.

 

		6.4.5.	Security testing (SDLC, vulnerabilities or penetration tests).

 

		6.4.6.	Security guidelines for the bastioning of systems.

 

    	 	39	 

     

    

 

		6.4.7.	Audits or forensic analysis of systems, databases and operating systems that host Company’s critical applications, in a discretionary
manner, without restrictions and without the need for prior notice. For this purpose, Provider will provide the necessary tools, users,
privileges and access.

 

		6.5.	Provider agrees to cooperate faithfully without reservation with Company and its personnel, and any third party duly involved in accordance
with the audit to act on its behalf, providing the necessary and reasonable information and assistance for the full and prompt performance
of the audit. In the event that an auditor exceeds the limits of the evaluation, Provider shall notify Company of this fact.

 

		6.6.	If the findings of the audit are considered by Company to be incompatible with the provision of the service, the entity reserves the
right to terminate the contractual relationship unilaterally and at no cost to the entity.

 

General Information Security Requirements

 

		7.1.	Provider must provide a totally separate environment for Company, isolated from other customers/suppliers.

 

		7.2.	Provider ensures that there is adequate separation of duties for all work functions and roles performed by its employees and suppliers
to ensure that no individual, within or outside of Provider ́s organization, has conflicting obligations that could endanger Company’s
information assets.

 

		7.3.	Assets are not disclosed in any way to anyone without a legitimate business need and without prior written authorization from Company.

 

		7.4.	It is prohibited to store any kind of information with real data owned by Company on removable user storage devices (Pendrive, hard
disk, etc.) or workstations of Provider, unless expressly authorized by Company.

 

		7.5.	Access to all Company information assets must:

 

		7.5.1.	Provider must manage all administrators access with a Privileged Access Management (PAM).

 

		7.5.2.	Each access must be recorded and must be sent to Company’s SIEM

 

		7.5.3.	Adhere to the principle of minimum privilege, ensuring that only the minimum level of access necessary for a given position is granted
to employees of Provider and its suppliers;

 

		7.5.4.	Restricting access to only authorized personnel who have a valid business need that justifies such access.

 

		7.6.	The IT services used to view, host, store, process, transmit, print, backup or destroy Company information assets comply with the
principle of “minimum privilege”, ensuring that only the minimum level of access necessary to perform the processing is granted
to these IT services.

 

		7.7.	Confidentiality clauses are defined, with the security requirements that the service provider guarantees as established by the Company
Regulatory Body, included in the Entity’s contractual agreement.

 

		7.8.	Provider retains all system records which store confidential information for a mutually agreed period of time and allows reasonable
access to such records by Company.

 

		7.9.	Provider assumes as part of the service the correction of the vulnerabilities that are detected, as well as the implementation of
solutions to them.

 

		7.10.	Non-Company hardware and software must not allow connection or interaction with the Company company network without:

 

		7.10.1.	A risk assessment with the necessary scope, including identification of existing and compensatory controls based on the requirements
within this Annex;

 

		7.10.2.	Verification of the implementation of the controls identified in the risk assessment;

 

		7.10.3.	Obtained Company Security Officer approvals.

 

    	 	40	 

     

    

 

		7.11.	Users of the Supplier must not be permitted to install their own personal software on Company Information Assets.

 

		7.12.	Company’s sensitive information may not be copied onto databases, laptops, portable memory units and other similar devices.
If there is a request from Company, industry standard encryption technology must be used which fully protects the storage and transmission
capabilities of these devices against unauthorised access.

 

Human Resources Management

 

		8.1.	The following administrative requirements must be implemented by Provider at the time Company’s information assets are stored,
processed, transmitted or destroyed; except as required for compliance, litigation or legal or regulatory purposes.

 

		8.2.	Provider must follow a documented method or procedure governing the creation, suspension, cancellation, modification and deletion
of user accounts for its employees.

 

		8.3.	During employment or during contract:

 

		8.3.1.	Provider must include information security requirements within job descriptions or other written documentation for Provider ́s
employees whose job roles will have access to Company’s information assets;

 

		8.3.2.	Provider maintains an information security awareness and training program for its employees to ensure that employees are aware of
their responsibility to protect and maintain the confidentiality and security of Company’s information assets.

 

Network security

 

		9.1.	Company may end any network or other remote connection with Provider at any time without notice if such connection is suspected or
confirmed to be unsafe.

 

		9.2.	Company’s information assets must not exist on any computer or device that is directly exposed to Internet or any other network
other than Provider ́s, unless authorized in writing by Company.

 

		9.3.	Provider will establish and maintain appropriate controls for its interfaces and electronic connections between its own systems and
those of others (“Remote Connections”) using industry standard practices.

 

		9.4.	The devices meet the following requirements to protect against asset compromise:

 

		9.4.1.	The devices employ an anti-virus and file integrity checking system with:

 

		a.	A method to update antivirus definition information so it
is always up-to-date;

		 	 

		b.	Enable real-time antivirus scanning of system activity, including
all files and memory;

		 	 

		c.	Weekly antivirus scanning of all files and directories;

 

		9.4.2.	Devices must use up-to-date system software, including, but not limited to, updated system software patches and security updates.

 

    	 	41	 

     

    

 

		9.5.	Provider ́s networks must have firewalls deployed at the network perimeter to deny incoming network traffic and only allow appropriate
access outside the network to Internet and other Provider ́s applications and systems that display, host, store, process, transmit,
print, backup or destroy Company’s information assets must be logically segregated from other systems on Provider ́s internal
network by using an appropriate firewall or proxy-based architecture or similar, which will disallow unauthorized connections inside and
outside Company’s information assets.

 

		9.6.	Wireless network access points must be configured to ensure that only authorized Provider ́s devices can establish a connection
to Provider ́s internal network where Company information assets are displayed, hosted, stored, processed, transmitted, printed,
backed up or destroyed. In addition, established wireless network connections must use industry best practices for encryption and other
appropriate safeguards designed to protect against unauthorized access and use.

 

Classification and management of information assets

 

		10.1.	Provider classifies and monitors its information assets to indicate ownership, custody and degree of sensitivity consistent with Company’s
information asset classification to ensure that Company’s information assets receive an appropriate level of protection from Provider.
Provider’s information asset classification repository inventory must be maintained and updated. The recommended classifications
are the following:

 

		10.1.1.	Non-Confidential Business Data (Internal Use) and Public Information Assets (Public).

 

		a.	“Non-confidential business data” means all information assets that Company determines are not sensitive or confidential
as defined below;

 

		b.	“Public Information” refers to all Information assets that are publicly sourced or provided by Company to the general
public; Examples include periodicals, public newsletters, published company information, published press releases, etc.

 

		10.1.2.	Company proprietary and confidential information assets (confidential)

 

		a.	“Confidential” or “Company proprietary” refers to information assets that are internal to Company, although
they may be shared with Provider under the terms of the Agreement, and are not considered by Company to be public information; examples
of this type of asset (not limited to) are non-public financial information, marketing plans, passwords and encryption keys, personal
customer information (such as personally identifiable information, personal financial information or personal protected health information),
product designs, customer records and correspondence, and other information or data which, if disclosed without proper authorization,
could result in competitive disadvantage or responsibility or loss to Company.

 

		10.2.	For records that comply with legal retention requirements, retention periods must be established, and properly maintained, by the
Supplier. In addition, Company may provide specific retention requirements that the Provider will apply, including, but not limited to,
retention for litigation, legal or regulatory purposes.

 

		10.3.	The destruction of Company’s information assets must be carried out in accordance with the Supplier’s records management
program. Before a workstation or server is reused, decommissioned or returned to the leasing Supplier, destruction methodologies must
be performed in a secure manner so that the information cannot be read or recreated after deletion. The Provider is encouraged to comply
with guidelines provided by the National Association for Information Destruction (NAID), which can be found at http://www.naidonline.org.
The Supplier must also consider the impact of the disposal on the environment.

 

Physical security

 

		11.1.	Access to Company ́s confidential information assets is controlled to protect the confidentiality, integrity and availability
of Company confidential information assets with appropriate administrative, logical and physical safeguards, including, but not limited
to:

 

		11.1.1.	Locking of access doors to the Provider’s offices and data processing centers;

 

    	 	42	 

     

    

 

		11.1.2.	Secure storage devices;

 

		11.1.3.	Secure destruction of information assets, in a timely manner.

 

		11.2.	Physical entry to Provider premises must be controlled in such a way that unauthorized entry is prevented, detected and reported to
the appropriate Provider personnel immediately. All points of entry and exit must be secured, recorded and monitored to ensure that only
authorized personnel can enter Provider ‘s buildings and secure areas.

 

		11.3.	When Provider uses ID cards or similar tokens for its employees and Agents, there must be a documented process, along with supporting
procedures, to ensure that lost credentials and tokens are disabled immediately upon notification of loss.

 

		11.4.	When an employee of Provider or other Agent terminates his employment or contractual relationship, procedures must be in place to
ensure that identification credentials are immediately disabled.

 

		11.5.	All Company ́s information assets, in the possession of Provider, must be physically secured in an access-controlled area, in
a locked room, or in a secure storage container or filing cabinet.

 

		11.6.	Company’s Information assets may not be moved or removed from Supplier’s premises without the written consent of Company
and the written authorization of Supplier’s management.

 

		11.7.	The printing of information with real data owned by Company that has not been previously authorized by the Cybersecurity Directorate
is not allowed under any circumstances.

 

		11.8.	All Company’s information assets, together with the Supplier’s information assets used to provide services to Company,
must be protected to minimize the risk of physical and environmental threats that could compromise the confidentiality, integrity and
availability of the information assets.

 

		11.9.	Physical access to computer or electronic device sessions must be secured when a user who is actively connected to the session is
not physically present to monitor the activity and display of information assets displayed in that session. Examples of physical controls
include, but are not limited to:

 

		11.10.	Using screen savers that block the screen and keyboard access after a short period of inactivity;

 

		11.11.	Manual keyboard lock;

 

		11.12.	Physically securing the office where the computer is located;

 

		11.13.	Placing the monitor away from an unauthorized display.

 

Background information

 

		12.1.	Adequate backup facilities must be provided to support the recovery of Company ́s information assets in accordance with Company’s
disaster recovery requirements and records retention schedules. Minimum requirements include:

 

		12.1.1.	Mediums containing backup copies of Company’s proprietary and confidential information assets must be encrypted using industry
standard methods to hide these information assets from unauthorized access;

 

		12.1.2.	The back-up storage medium used to store Company’s information assets must be a type determined by the Supplier to be appropriate
for the confidentiality and retention requirements of the data it will contain;

  

		12.1.3.	As it is essential that the back-up storage mediums are machine-readable if they are to be used for restoration and recovery operations,
random tests of the restoration process should be carried out periodically;

 

    	 	43	 

     

    

 

		12.1.4.	Backups of Company ́s information assets, together with complete and accurate records of the backups, must be stored in a physically
protected off-site location as a measure of protection against total loss of information assets in the event of a system failure or disaster;

 

		12.1.5.	Company ́s information assets must be backed up in line with disaster recovery requirements. This backup program includes at
least weekly full backups, daily incremental backups, quarter-end backups, and year-end backups;

 

		12.1.6.	No more than one (1) full and incremental backup of the subsequent six (6) days may be stored at the Supplier’s production facility
at any one time. All copies not in this range must be outsourced.

 

System event logging, monitoring and reporting

 

		13.1.	Provider ́s computer and network systems used to provide services to Company must record significant events including, but not
limited to, the following:

 

		13.1.1.	Unauthorized attempts to access the information assets of network customers or a supplier must be captured and recorded securely to
assist and ensure error management and forensic needs;

 

		13.1.2.	Records must be configured or protected in such a way that they cannot be viewed or altered by anyone without authorization, including
those with administrative privileges, unless such access is also recorded in an inviolable manner;

 

		13.1.3.	Records of failed network connection attempts and unsuccessful access to Information Assets must be reviewed regularly to detect and
act appropriately on anomalous and suspicious system access attempts;

 

		13.1.4.	The firewall and IDS / IPS records are monitored in real time. Server logs are reviewed as needed in case of investigation;

 

		13.1.5.	When suspicious or unusual activity is detected during a review of the above records, it should be reported as directed by approved
event control procedures aligned with Information Security Incident Response plans.

 

		13.1.6.	System, operating system and Database records where Company customer information is stored must be activated,

 

		13.1.7.	All logs must be sent to Company for consolidation and correlation in SIEM.

 

		13.1.8.	The information must be stored for at least 10 years.

 

Logical access

 

The service must employ at least the following requirements:

 

		14.1.	Provider manages (authorization, modification and/or deletion) the access permissions only to that information and resources needed
for the provision of the service. The authorizations of any person to the information processes must be immediately cancelled when they
do not require the authorizations for their professional performance and/or their contractual relationship ends.

 

		14.2.	Any management of privileged users must be authorized by Company.

 

		14.3.	Provider must manage all administrators access with a Privileged Access Management (PAM). All accesses must be recorded.

 

		14.4.	Provider protects privileged access by using technological solutions and/or by activating the use of two-factor authentication.

 

    	 	44	 

     

    

 

		14.5.	Provider ensures that its users use the user ID and password in a personal and non-transferable manner. The use of the user ID and
password by persons other than those to whom they have been assigned is expressly prohibited.

 

		14.6.	Provider keeps a record of access to its systems, detailing at least: User identification (unambiguous and personalized by name, surname
and ID), Date and time of access, Information accessed or requested, Type of access, and whether it has been authorized or denied.

 

		14.7.	The password settings for each user account are configured using the following minimum settings:

 

		14.7.1.	A minimum of eight (8) characters in length and containing at least three (3) of the following four (4) types of characters:

 

		a.	capital letters;

 

		b.	lowercase;

 

		c.	numeric characters;

 

		d.	special characters (for example, $, @, Etc.).

 

		14.7.2.	The expiry of the password is set as follows:

 

		a.	Configured to automatically require password changes, at most every thirty (30) days, for user accounts and any system accounts where
the setting does not impact the processing of productive information.

 

		b.	If the automatic expiration of a system account could cause the risk of production process interruption, password changes can happen
manually with the following alternative controls in place:

 

		I.	The system account is assigned a single owner who is ultimately responsible for the disposition and use of the account and password;

 

		II.	The system account is configured with advanced complex password creation rules (for example extended password length, hashing algorithms,
etc.);

 

		III.	The system account is limited as much as possible to allow connection of capabilities only to computers and/or services required;

 

		IV.	The system account is manually changed to the staff rotation at the earliest available time so as not to affect processing;

 

		V.	The system account complies with all other requirements of this Annex.

 

		14.8.	The text of the network password is stored in an encrypted format in the user identity database and is unreadable during transmission
and storage.

 

		14.9.	Passwords are changed immediately if they are found to be revealed or discovered by unauthorized parties.

 

		14.10.	Provider ́s systems are configured, if technically possible, to disable user sessions after a reasonable period of inactivity,
based on business risk.

 

    	 	45	 

     

    

 

Database / Systems Security

 

		15.1.	Provider must have a technological solution for the protection of information at the database level or must activate database auditing
in order to audit all access.

 

		15.2.	Provider must apply database-level obfuscation techniques to protect all Company data in non-productive environments,

 

		15.3.	Provider may implement additional and/or stronger logical access safeguards at its discretion, provided that such additional controls
do not neutralize or deny the effectiveness of existing controls for Company’s information assets.

 

		15.4.	Provider has an appropriate logical architecture in its applications, which restricts access to the backend of the applications and
databases, which are not published on the Internet and have some additional security measures.

 

		15.5.	Provider has an encrypted backup of all databases containing Company ́s information and related to the service provided.

 

		15.6.	All accesses must be recorded.

 

Software development

 

		16.1.	Application and system development should follow a defined and documented Software Development Life Cycle methodology (“SDLC”)
that includes a preliminary review of information security requirements to ensure at least the following:

 

		16.1.1.	Vulnerability testing must be performed to ensure that common security weaknesses are detected and corrected before they are implemented.

 

		16.1.2.	There must be separate physical or logical divisions separating the development, testing, certification, and production environments;

 

		16.1.3.	The use of data within non-production environments must comply with at least the following:

 

		a.	No tests of any kind will be made with real data. For testing purposes, data extracted from production environments that have been
previously processed and made anonymous by Company must be used, so that it is not possible to identify persons, services or any other
sensitive data.

 

		b.	If Company ́s information assets are used, the same controls must exist as in the production environment;

 

		c.	Handling and destruction of sensitive data must be treated with the same level of confidentiality as if it were production;

 

		16.1.4.	Web-based applications exposed to the Internet must ensure that vulnerability testing is performed to ensure that the most common
vulnerability weaknesses based on industry best practices are identified and remedied to prevent them from being exploited in a way that
could lead to the unauthorized access or disclosure of Company Information Assets;

 

		16.2.	All software developed by Provider to support Company ́s service:

 

		16.2.1.	Is developed in accordance with acceptable industry safety standards (e.g. OWASP, SANS, NIST);

  

		16.2.2.	Does not contain undocumented features;

 

		16.2.3.	Does not contain hidden mechanisms that could be used to compromise any information asset;

 

    	 	46	 

     

    

 

		16.2.4.	Shall not compromise, require modification, or undo controls previously implemented within the operating system or support critical
systems with which one interacts.

 

		16.3.	In the event that risk mitigation and/or new functionalities are agreed with the supplier through additional developments, such agreement
must be included in the contract.

 

Management of technical vulnerabilities

 

		17.	Provider agrees to correct technical vulnerabilities in accordance with the SLA out in Annex III.- Service Level Agreements.

 

Response to Information Security Incidents and notification of security
breaches

 

Provider must establish and maintain a documented information security
incident response program that includes:

 

		18.1.	Any Provider information security breach involved in any of Company’s Information assets must be reported to the Client at the
time of detection. Thereafter, Provider, at its own cost and expense must:

 

		18.1.1.	Communicate without delay to Company all details of the information security breach, in accordance with Annex III. - Service Level
Agreement;

 

		18.1.2.	Take immediate action to remedy the security information gap in accordance with applicable privacy laws and regulations;

 

		18.1.3.	Cooperate with Company to determine: (1) whether to communicate to individuals, regulators, law enforcement agencies, data protection
agencies, or others as required by law or regulation, or at Company’s discretion; and (2) the content of such communication or any
remediation that may be offered to the persons concerned, and the nature and scope of such remediation.

 

		18.1.4.	Use its best efforts to prevent a recurrence of such Information Security breach;

 

		18.1.5.	Assist and cooperate fully with Company in Company’s investigation of the information security breach, as well as the collaboration
of Provider ́s employees, contractors, subcontractors or third parties related to the Provider ́s Information Security breach;

 

		18.1.6.	Cooperate with Company in any litigation or formal action against third parties considered necessary by Company to protect its rights
and the rights of its customers and users;

 

		18.1.7.	Nothing herein shall prevent Company from taking any action required by law, including notifying appropriate law enforcement agencies.

 

Business Continuity

 

		19.1.	Company
may require, when it deems it appropriate, to Provider the Business Continuity Plan (hereinafter referred to as BCP) in which the service
provided to Company is contemplated and the security of the information owned by Company that Provider deals with for the provision of
the service is guaranteed. In this case, the Provider must guarantee the required levels of availability. It is Provider ́s responsibility
to test and update the PCN regularly. Both the PCN and the result of the execution of the tests associated to the PCN, must be sent to
Company.

 

		19.2.	The
Business Continuity Recovery Objective Point (“RPO”) and the Recovery Time Objective (“RTO”) are discussed and
agreed with Company and are proportionate to the performance of the Agreement. This is done to ensure the resilience of Provider and
the subsequent commitments to do so meet Company’s business requirements. These are set out in Annex III - Service Level Agreement.

 

		19.3.	Supplier
or agent must maintain a documented Business Continuity and Disaster Recovery Plan (BCP/DRP), which, at a minimum, must:

 

		19.3.1.	Govern
and define the objectives and actions required during a BCP/DRP event;

 

		19.3.2.	Have
copies of documentation on disaster recovery and business continuity procedures available to the Client outside the office where the
Supplier’s activity takes place, so that the Client has access to this information after a disaster;

 

    	 	47	 

     

    

 

		19.3.3.	Define
and document the business continuity processes and procedures that enable the Supplier to carry out the necessary actions to maintain
critical business functions after a disaster;

 

		19.3.4.	Define
and document information asset recovery procedures that enable Supplier to recover Client information assets in a consistent way with
business continuity requirements (RPO and RTO);

 

		19.3.5.	Give
priority to the recovery of the activity on the basis of a documented inventory of the Client’s information assets in accordance
with what has been established and agreed (RPO and RTO);

 

		19.3.6.	Define
and document a formal communication plan that notifies any invocation of the BCP/DRP affecting Client ́s information assets within
twenty-four (24) hours of its occurrence or activation.

 

Encryption

  

		20.1.	Provider must use industry standard encryption algorithms and key length to protect the confidentiality and integrity of Company ́s
sensitive data.

 

		20.2.	Provider will protect encryption keys from loss or unauthorized access/use.

 

Cyber Policy

 

		21.1.	Provider must have a cyber - policy that can cover damage generated by a cyber-incident.

 

    	 	48	 

     

    

 

APPENDIX III: PROVIDERS

 

CODERE APUESTAS ESPAÑA S.L.

 

	
    

    Company name and tax identification of the provider1
	Subcontracted service 2	Provider ́s location 3	Guarantee required by the GDPR in case of international data transfer 4
	 	 	 	 

  

CODERE NEWCO S.A.

 

	
    

    Company name and tax identification of the provider
	Subcontracted service 	Provider ́s location 	Guarantee required by the GDPR in case of international data transfer 
	 	 	 	 

 

 

		1	Any provider subcontracted by the DATA SUBPROCESSOR who may
have access to the personal data under the responsability of CODERE should be included.

		2	Service subcontracted by the DATA SUBPROCESSOR that may involve
access to personal data under the responsability of CODERE.

		3	If data processing is carried out at a different location from
the provider's location, please indicate. For example, Cloud services at Microsoft, hosting services at AWS.

		4	Applicable only when the provider is located outside the European
Economic Area. e.g. standard contract clauses, binding contract rules, adequacy decision

 

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APPENDIX IV

 

ADDITIONAL MEASURES TO ENSURE AN ADEQUATE LEVEL OF PROTECTION IN
CASE OF TRANSFER OF DATA TO COUNTRIES WITHOUT AN ADEQUACY DECISION BY THE EUROPEAN COMMISSION

 

		1.	Technical Measures:

 

		a.	For those services that do not require access to readable personal data (e.g. data storage service for back-ups), proceed to the encryption
or pseudo-anonymization of personal data before transfer to the third country. The key for the decryption of the information will be stored
by the Data Exporter.

 

		b.	Proceed to the encryption or pseudo-anonymization of the personal data, prior to its transfer to the third country. The key for the
decryption of the information will be stored by the Data Importer, ensuring the adoption of technical and organizational measures to prevent
unauthorized access.

 

		2.	Organizational Measures

 

		a.	Update the Exporter’s register of international transfers in order to identify all cross-border data flows, reviewing the appropriate
safeguards adopted in each case.

 

		b.	Minimize the volume of personal data transferred outside the EEA or transfer only the data necessary to carry out the service.

 

		c.	Request from the Importer transparency reports or summaries regarding governmental requests for access to data and the type of response
provided, to the extent that publication is permitted by local law. In the event that the supplier is unable to provide the detailed information,
it should use best efforts to share statistical or aggregated information.

 

		d.	Conduct regular compliance checks and audits to demonstrate proper compliance with the principles of data minimization and proportionality
in the context of international data transfers.

 

		e.	Properly document the prior analysis of each international transfer of personal data taking into consideration among others: definition
of local regulations that allow local authorities to access the personal data transferred; definition of the type of data and categories
of data subjects concerned; analysis of the questionnaire sent to the Importer prior to the transfer and the proposal of the measures
provided by the Importer to protect personal data imported from the EEA from disproportionate access by local authorities.

 

		3.	Contractual measures:

 

		a.	Question, whenever possible, the scope and justification of any request or requirement for information from local authorities that
could compromise the confidentiality of imported personal data, requesting the suspension of access until the resolution of their objection.

 

		b.	To invoke clause 5 of the Standard Contractual Clauses (2010/87/EU) or the analogous clause in the BCRs before the exporter of personal
data, informing about the impossibility of duly complying with its obligations, providing all the information allowed under local regulations.

 

		c.	Depending on the circumstances, make the transfer conditional on the adoption of appropriate technical measures, collaborating with
the Exporter of the processing of personal data in the design and implementation of such measures.

 

		d.	The Importer’s commitment not to intentionally create backdoors or similar architecture in order to facilitate access to imported
personal data by the authorities; not to intentionally create or modify its business processes in order to facilitate access to imported
personal data by the authorities; and to inform about the obligations imposed by local regulations to create backdoors or facilitate access
to imported personal data or to provide the key for its decryption.

  

		e.	Strengthen the Exporter’s auditing power, in order to verify whether the personal data under its responsibility could have been
accessed by public authorities.

 

		f.	Incorporate the obligation of the importer to actively monitor any regulatory development that may determine the impossibility of
providing the level of protection essentially equivalent to the European level and to invoke, within 48 hours, clause 5 of the Standard
Contractual Clauses (2010/87/EU) or the analogous clause in the BCRs before the exporter of personal data, informing about the impossibility
of duly complying with its obligations, as a consequence of such regulatory change.

 

		g.	Obligation to assist the data subject in exercising his or her rights in the local jurisdiction through ad hoc redress mechanisms
and legal advice.

 

		h.	In any case, provisions allowing for the suspension or termination of transfers at the request of the exporter with the assumption
by the importer of the damages caused to the exporter as a consequence of such suspension.

 

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APPENDIX V

 

REGULARIZATION OF THE INTERNATIONAL DATA TRANSFER BY STANDARD CONTRACTUAL
CLAUSES 

 

In relation to this Standard Contractual Clause, it is stated that
the DATA PROCESSOR has express authorization from the DATA CONTROLLER to carry out the formalization of this clause on its behalf.

 

Due to the Standard Contractual Clauses signed between DATA PROCESSOR
and the DATA SUBPROCESSOR corresponds to the established by the COMMISSION DECISION of 5 February 2010 on standard contractual clauses
for the transfer of personal data to processors established in third countries, in accordance with Directive 95/46/EC of the European
Parliament and of the Council, and given that REGULATION (EU) 2016/679 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 27 April 2016
on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and repealing
Directive 95/46/EC (General Data Protection Regulation) renders that Directive null and void:

 

		●	Decisions adopted by the Commission pursuant to Article 25(6) of Directive
95/46/EC shall remain in force until they are amended, replaced or repealed by a decision of the COMMISSION adopted pursuant to Article
45(3) or (5) GDPR.

 

		●	The Standard Contractual Clause shall be interpreted on the basis of the
provisions of the regulations in force; REGULATION (EU) 2016/679 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 27 April 2016 .

 

		●	In application of Article 45(9) GDPR, the DATA PROCESSOR and the DATA SUBPROCESSOR
undertake to subscribe to and adopt the updates of the Standard Contractual Clauses that the COMMISSION may publish from now on, provided
that they would imply the repeal or termination of validity of the Standard Contractual Clauses adopted by the COMMISSION DECISION of
February 5, 2010, or that any of the parties so requires.

 

STANDARD CONTRACTUAL CLAUSES

 

For the purposes of Article 26(2) of Directive 95/46/EC for the transfer
of personal data to processors established in third countries which do not ensure an adequate level of data protection

 

The entity exporting the data is identified in the Preamble
of this contract as the Data Procesor, entrusted by the Data Controller.

 

(the data exporter)

 

And

 

The entity importing the data is identified in the Preamble
of this contract as the Data SubProcessor.

 

(the data importer)

 

each a ‘party’; together ‘the parties’,

  

HAVE AGREED on the following Contractual Clauses (the Clauses) in order
to adduce adequate safeguards with respect to the protection of privacy and fundamental rights and freedoms of individuals for the transfer
by the data exporter to the data importer of the personal data specified in Appendix 1.

 

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Clause 1 Definitions

 

For the purposes of the Clauses:

 

		a)	‘personal data’, ‘special categories of data’, ‘process/processing’, ‘controller’,
‘processor’, ‘data subject’ and ‘supervisory authority’ shall have the same meaning as in Directive
95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing
of personal data and on the free movement of such data;

 

		b)	‘the data exporter’ means the controller who transfers the personal data;

 

		c)	‘the data importer’ means the processor who agrees to receive from the data exporter personal data intended for processing
on his behalf after the transfer in accordance with his instructions and the terms of the Clauses and who is not subject to a third country’s
system ensuring adequate protection within the meaning of Article 25(1) of Directive 95/46/EC;

 

		d)	‘the sub-processor’ means any processor engaged by the data importer or by any other sub-processor of the data importer
who agrees to receive from the data importer or from any other sub-processor of the data importer personal data exclusively intended for
processing activities to be carried out on behalf of the data exporter after the transfer in accordance with his instructions, the terms
of the Clauses and the terms of the written subcontract;

 

		e)	‘the applicable data protection law’ means the legislation protecting the fundamental rights and freedoms of individuals
and, in particular, their right to privacy with respect to the processing of personal data applicable to a data controller in the Member
State in which the data exporter is established;

 

		f)	‘technical and organisational security measures’ means those measures aimed at protecting personal data against accidental
or unlawful destruction or accidental loss, alteration, unauthorised disclosure or access, in particular where the processing involves
the transmission of data over a network, and against all other unlawful forms of processing.

 

Clause 2. Details of the transfer

 

The details of the transfer and in particular the special categories
of personal data where applicable are specified in Appendix 1 which forms an integral part of the Clauses.

 

Clause 3. Third-party beneficiary clause

 

		a)	The data subject can enforce against the data exporter this Clause, Clause 4(b) to (i), Clause 5(a) to (e), and (g) to (j), Clause
6(1) and (2), Clause 7, Clause 8(2), and Clauses 9 to 12 as third-party beneficiary.

 

		b)	The data subject can enforce against the data importer this Clause, Clause 5(a) to (e) and (g), Clause 6, Clause 7, Clause 8(2), and
Clauses 9 to 12, in cases where the data exporter has factually disappeared or has ceased to exist in law unless any successor entity
has assumed the entire legal obligations of the data exporter by contract or by operation of law, as a result of which it takes on the
rights and obligations of the data exporter, in which case the data subject can enforce them against such entity.

  

		c)	The data subject can enforce against the sub-processor this Clause, Clause 5(a) to (e) and (g), Clause 6, Clause 7, Clause 8(2), and
Clauses 9 to 12, in cases where both the data exporter and the data importer have factually disappeared or ceased to exist in law or have
become insolvent, unless any successor entity has assumed the entire legal obligations of the data exporter by contract or by operation
of law as a result of which it takes on the rights and obligations of the data exporter, in which case the data subject can enforce them
against such entity. Such third-party liability of the sub-processor shall be limited to its own processing operations under the Clauses.

 

		d)	The parties do not object to a data subject being represented by an association or other body if the data subject so expressly wishes
and if permitted by national law.

 

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Clause 4. Obligations of the data exporter

 

The data exporter agrees and warrants:

 

		a)	that the processing, including the transfer itself, of the personal data has been and will continue to be carried out in accordance
with the relevant provisions of the applicable data protection law (and, where applicable, has been notified to the relevant authorities
of the Member State where the data exporter is established) and does not violate the relevant provisions of that State;

 

		b)	that it has instructed and throughout the duration of the personal data-processing services will instruct the data importer to process
the personal data transferred only on the data exporter’s behalf and in accordance with the applicable data protection law and the
Clauses;

 

		c)	that the data importer will provide sufficient guarantees in respect of the technical and organisational security measures specified
in Appendix 2 to this contract;

 

		d)	that after assessment of the requirements of the applicable data protection law, the security measures are appropriate to protect
personal data against accidental or unlawful destruction or accidental loss, alteration, unauthorised disclosure or access, in particular
where the processing involves the transmission of data over a network, and against all other unlawful forms of processing, and that these
measures ensure a level of security appropriate to the risks presented by the processing and the nature of the data to be protected having
regard to the state of the art and the cost of their implementation;

 

		e)	that it will ensure compliance with the security measures;

 

		f)	that, if the transfer involves special categories of data, the data subject has been informed or will be informed before, or as soon
as possible after, the transfer that its data could be transmitted to a third country not providing adequate protection within the meaning
of Directive 95/46/EC;

 

		g)	to forward any notification received from the data importer or any sub-processor pursuant to Clause 5(b) and Clause 8(3) to the data
protection supervisory authority if the data exporter decides to continue the transfer or to lift the suspension

  

		h)	to make available to the data subjects upon request a copy of the Clauses, with the exception of Appendix 2, and a summary description
of the security measures, as well as a copy of any contract for sub-processing services which has to be made in accordance with the Clauses,
unless the Clauses or the contract contain commercial information, in which case it may remove such commercial information;

 

		i)	that, in the event of sub-processing, the processing activity is carried out in accordance with Clause 11 by a sub-processor providing
at least the same level of protection for the personal data and the rights of data subject as the data importer under the Clauses; and

 

		j)	that it will ensure compliance with Clause 4(a) to (i).

 

Clause 5. Obligations of the data importer

 

The data importer agrees and warrants:

 

		a)	to process the personal data only on behalf of the data exporter and in compliance with its instructions and the Clauses; if it cannot
provide such compliance for whatever reasons, it agrees to inform promptly the data exporter of its inability to comply, in which case
the data exporter is entitled to suspend the transfer of data and/or terminate the contract;

 

		b)	that it has no reason to believe that the legislation applicable to it prevents it from fulfilling the instructions received from
the data exporter and its obligations under the contract and that in the event of a change in this legislation which is likely to have
a substantial adverse effect on the warranties and obligations provided by the Clauses, it will promptly notify the change to the data
exporter as soon as it is aware, in which case the data exporter is entitled to suspend the transfer of data and/or terminate the contract;

 

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		c)	that it has implemented the technical and organisational security measures specified in Appendix 2 before processing the personal
data transferred;

 

		d)	that it will promptly notify the data exporter about:

 

		a.	any legally binding request for disclosure of the personal data by a law enforcement authority unless otherwise prohibited, such as
a prohibition under criminal law to preserve the confidentiality of a law enforcement investigation;

 

		b.	any accidental or unauthorised access; and

 

		c.	any request received directly from the data subjects without responding to that request, unless it has been otherwise authorised to
do so;

 

		e)	to deal promptly and properly with all inquiries from the data exporter relating to its processing of the personal data subject to
the transfer and to abide by the advice of the supervisory authority with regard to the processing of the data transferred;

 

		f)	at the request of the data exporter to submit its data-processing facilities for audit of the processing activities covered by the
Clauses which shall be carried out by the data exporter or an inspection body composed of independent members and in possession of the
required professional qualifications bound by a duty of confidentiality, selected by the data exporter, where applicable, in agreement
with the supervisory authority;

  

		g)	to make available to the data subject upon request a copy of the Clauses, or any existing contract for sub-processing, unless the
Clauses or contract contain commercial information, in which case it may remove such commercial information, with the exception of Appendix
2 which shall be replaced by a summary description of the security measures in those cases where the data subject is unable to obtain
a copy from the data exporter;

 

		h)	that, in the event of sub-processing, it has previously informed the data exporter and obtained its prior written consent

 

		i)	that the processing services by the sub-processor will be carried out in accordance with Clause 11;

 

		j)	to send promptly a copy of any sub-processor agreement it concludes under the Clauses to the data exporter.

 

Clause 6. Liability

 

		a)	The parties agree that any data subject, who has suffered damage as a result of any breach of the obligations referred to in Clause
3 or in Clause 11 by any party or sub-processor is entitled to receive compensation from the data exporter for the damage suffered.

 

		b)	If a data subject is not able to bring a claim for compensation in accordance with paragraph 1 against the data exporter, arising
out of a breach by the data importer or his sub-processor of any of their obligations referred to in Clause 3 or in Clause 11, because
the data exporter has factually disappeared or ceased to exist in law or has become insolvent, the data importer agrees that the data
subject may issue a claim against the data importer as if it were the data exporter, unless any successor entity has assumed the entire
legal obligations of the data exporter by contract of by operation of law, in which case the data subject can enforce its rights against
such entity. The data importer may not rely on a breach by a sub-processor of its obligations in order to avoid its own liabilities.

 

		c)	If a data subject is not able to bring a claim against the data exporter or the data importer referred to in paragraphs 1 and 2, arising
out of a breach by the sub-processor of any of their obligations referred to in Clause 3 or in Clause 11 because both the data exporter
and the data importer have factually disappeared or ceased to exist in law or have become insolvent, the sub-processor agrees that the
data subject may issue a claim against the data sub-processor with regard to its own processing operations under the Clauses as if it
were the data exporter or the data importer, unless any successor entity has assumed the entire legal obligations of the data exporter
or data importer by contract or by operation of law, in which case the data subject can enforce its rights against such entity. The liability
of the sub-processor shall be limited to its own processing operations under the Clauses.

 

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Clause 7. Mediation and jurisdiction

 

		a)	The data importer agrees that if the data subject invokes against it third-party beneficiary rights and/or claims compensation for
damages under the Clauses, the data importer will accept the decision of the data subject:

 

		a.	to refer the dispute to mediation, by an independent person or, where applicable, by the supervisory authority

 

		b.	to refer the dispute to the courts in the Member State in which the data exporter is established.

 

		b)	The parties agree that the choice made by the data subject will not prejudice its substantive or procedural rights to seek remedies
in accordance with other provisions of national or international law.

  

Clause 8. Cooperation with supervisory authorities

 

		a)	The data exporter agrees to deposit a copy of this contract with the supervisory authority if it so requests or if such deposit is
required under the applicable data protection law.

 

		b)	The parties agree that the supervisory authority has the right to conduct an audit of the data importer, and of any sub-processor,
which has the same scope and is subject to the same conditions as would apply to an audit of the data exporter under the applicable data
protection law

 

		c)	The data importer shall promptly inform the data exporter about the existence of legislation applicable to it or any sub-processor
preventing the conduct of an audit of the data importer, or any sub-processor, pursuant to paragraph 2. In such a case the data exporter
shall be entitled to take the measures foreseen in Clause 5(b).

 

Clause 9. Governing law

 

The Clauses shall be governed by the law of the Member State in which
the data exporter is established, namely Spain

 

Clause 10. Variation of the contract

 

The parties undertake not to vary or modify the Clauses. This does
not preclude the parties from adding clauses on business related issues where required as long as they do not contradict the Clause.

 

Clause 11

 

Sub-processing

 

		d)	The data importer shall not subcontract any of its processing operations performed on behalf of the data exporter under the Clauses
without the prior written consent of the data exporter. Where the data importer subcontracts its obligations under the Clauses, with the
consent of the data exporter, it shall do so only by way of a written agreement with the sub-processor which imposes the same obligations
on the sub-processor as are imposed on the data importer under the Clauses (3). Where the sub-processor fails to fulfil its data protection
obligations under such written agreement the data importer shall remain fully liable to the data exporter for the performance of the sub-processor’s
obligations under such agreement.

 

		e)	The prior written contract between the data importer and the sub-processor shall also provide for a third-party beneficiary clause
as laid down in Clause 3 for cases where the data subject is not able to bring the claim for compensation referred to in paragraph 1 of
Clause 6 against the data exporter or the data importer because they have factually disappeared or have ceased to exist in law or have
become insolvent and no successor entity has assumed the entire legal obligations of the data exporter or data importer by contract or
by operation of law. Such third-party liability of the sub-processor shall be limited to its own processing operations under the Clauses.

 

		f)	The provisions relating to data protection aspects for sub-processing of the contract referred to in paragraph 1 shall be governed
by the law of the Member State in which the data exporter is established, namely Spain

 

		g)	The data exporter shall keep a list of sub-processing agreements concluded under the Clauses and notified by the data importer pursuant
to Clause 5(j), which shall be updated at least once a year. The list shall be available to the data exporter’s data protection
supervisory authority.

  

    	 	55	 

     

    

 

Clause 12. Obligation after the termination of personal data-processing
services

 

		a)	The parties agree that on the termination of the provision of data-processing services, the data importer and the sub-processor shall,
at the choice of the data exporter, return all the personal data transferred and the copies thereof to the data exporter or shall destroy
all the personal data and certify to the data exporter that it has done so, unless legislation imposed upon the data importer prevents
it from returning or destroying all or part of the personal data transferred. In that case, the data importer warrants that it will guarantee
the confidentiality of the personal data transferred and will not actively process the personal data transferred anymore.

 

		b)	The data importer and the sub-processor warrant that upon request of the data exporter and/or of the supervisory authority, it will
submit its data-processing facilities for an audit of the measures referred to in paragraph 1.

 

On behalf of the data exporter:

 

Signatures appended to the body of this contract

 

On behalf of the data importer:

 

Signatures appended to the body of this contract

 

    	 	56	 

     

    

 

Annex 1. to the Standard Contractual Clauses

 

This Appendix forms part of the Clauses and must be completed and signed
by the parties

 

The Member States may complete or specify, according to their national
procedures, any additional necessary information to be contained in this Appendix

 

Parties:

 

Data exporter is described in the Preamble of this Agreement as DATA
PROCESSOR

 

Data Importer is described in the Preamble of this Agreement as DATA
SUBPROCESSOR

 

Data subjects: 

 

The personal data transferred refers to the categories of data subjects
identified in Appendix 1 of this Agreement. Categories of data

 

The personal data transferred concern the following categories of data:

 

The personal data transferred refers to the categories of data identified
in Appendix 1 of this Agreement, including special categories of data, if applicable.

 

Processing operations:

 

The personal data transferred shall be subject to the basic processing
operations described in Appendix 1 of the present Contract

 

On behalf of the data exporter:

 

Signatures appended to the body of this contract

 

On behalf of the data importer:

 

Signatures appended to the body of this contract

 

Annex 2.to the Standard Contractual Clauses

 

This Appendix forms part of the Clauses and must be completed and signed
by the parties.

 

Description of the technical and organizational security measures implemented
by the data importer in accordance with Clauses 4(d) and 5(c) (or document/legislation attached):

 

The Data Importer shall implement the security measures described in
Appendix 2 of this Agreement to ensure the continued confidentiality, integrity, availability and resiliency of the processing systems
and services.

 

On behalf of the data exporter:

 

Signatures appended to the body of this contract

 

On behalf of the data importer:

 

Signatures appended to the body of this contract

 

    	 	57

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