Document:

Exhibit 10.1

 

FORM OF INDEMNIFICATION AGREEMENT

 

This INDEMNIFICATION
AGREEMENT (the “Agreement”) is made and entered
into as of ____________, 2022 between DRAFTKINGS
INC., a Nevada corporation (the “Company”),
and ____________ (“Indemnitee”).

 

WITNESSETH THAT:

 

WHEREAS, highly competent
persons have become more reluctant to serve corporations as directors, officers or in other capacities unless they are provided with adequate
protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their
service to and activities on behalf of the corporation;

 

WHEREAS, the Board
of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals,
the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company
and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice
among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and
trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors,
officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming
litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise
itself. Chapter 78 of the Nevada Revised Statutes (the “NRS”) and the Amended and Restated Articles of Incorporation
of the Company (the “Articles”) authorize indemnification of the directors, officers, employees, fiduciaries
and agents of the Company. The Amended and Restated Bylaws of the Company (the “Bylaws”) provide that the Company
will indemnify the directors and officers of the Company. The NRS expressly provides that the indemnification provisions set forth therein
are not exclusive, and thereby contemplate that contracts may be entered into between the Company and persons acting on behalf of the
Company with respect to indemnification;

 

WHEREAS, the uncertainties
relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS, the Board
has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s
stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons
to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that
they will not be so indemnified;

 

WHEREAS, this Agreement
is a supplement to and in furtherance of any indemnification provisions in the Articles and/or the Bylaws of the Company and any resolutions
adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;
and

 

WHEREAS, Indemnitee
does not regard the protection available under the NRS, the Bylaws and insurance as adequate in the present circumstances, and may not
be willing to serve as an officer or a director without adequate protection, and the Company desires Indemnitee to serve in such capacity.
Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that
he or she be so indemnified.

 

     
 

     

    

 

NOW, THEREFORE, in
consideration of Indemnitee’s agreement to serve as an officer and/or a director from and after the date of this Agreement, and
for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1. Indemnity of Indemnitee.
The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as such may be amended from
time to time. In furtherance of the foregoing indemnification, and without limiting the generality thereof.

 

(a) Proceedings Other
Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this
Section l(a) if, by reason of his or her Corporate Status (as hereinafter defined), Indemnitee was or is a party, or is threatened
to be made a party, to any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of the Company. Pursuant to
this Section 1(a), the Company shall indemnify Indemnitee against all Expenses (as hereinafter defined), judgments, fines and amounts
paid in settlement actually and reasonably incurred by him or her, or on his or her behalf, in connection with such Proceeding or any
claim, issue or matter therein, if Indemnitee either (i) is not liable pursuant to NRS 78.138 or (ii) acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding,
had no reasonable cause to believe Indemnitee’s conduct was unlawful.

 

(b) Proceedings by or
in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 1(b) if,
by reason of his or her Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought
by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 1(b), the Company shall indemnify
Indemnitee against all Expenses and amounts paid in settlement actually and reasonably incurred by Indemnitee, or on Indemnitee’s
behalf, in connection with such Proceeding or any claim, issue or matters therein, if Indemnitee either (i) is not liable pursuant to
NRS 78.138 or (ii) acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company; provided, however, if applicable law so provides, no indemnification against such Expenses or other amounts
shall be made in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged by a court of competent jurisdiction,
after exhaustion of all appeals therefrom, to be liable to the Company or for amounts paid in settlement to the Company, unless and only
to the extent that the court in which the Proceeding was brought or other court of competent jurisdiction shall determine that in view
of all the circumstances in the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.

 

(c) Termination of Proceeding.
The termination of any Proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall
not, of itself, adversely affect the right of Indemnitee to indemnification or create an inference or presumption either that Indemnitee
is liable pursuant to NRS 78.138, that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be
in or not opposed to the best interests of the corporation, or, with respect to any criminal action or proceeding, that Indemnitee had
reasonable cause to believe that the conduct was unlawful. The Company acknowledges that such a resolution, short of final judgment, may
be successful on the merits if it permits a party to avoid expense, delay, distraction, disruption and uncertainty. In the event that
any Proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including,
without limitation, settlement of such Proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee
has been successful on the merits or otherwise in such Proceeding. Anyone seeking to overcome this presumption shall have the burden of
proof and the burden of persuasion by clear and convincing evidence.

 

(d) Indemnification for
Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent that
Indemnitee is, by reason of his or her Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding,
the Company shall indemnify Indemnitee to the maximum extent permitted by law, as such may be amended from time to time, against all Expenses
actually and reasonably incurred by him or her on his or her behalf in connection with the defense of the Proceeding. If Indemnitee is
not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues
or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or
her, or on his or her behalf, in connection with each successfully resolved claim, issue or matter. For purposes of this Section and without
limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed
to be a successful result as to such claim, issue or matter.

 

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2. Additional Indemnity.
In addition to, and without regard to any limitations on, the indemnification provided for in Section 1 of this Agreement, the
Company shall and hereby does indemnify and hold harmless Indemnitee, to the fullest extent permitted by law, as may be amended from time
to time, against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her, or on his
or her behalf, if, by reason of his or her Corporate Status, he or she was or is a party, or is threatened to be made a party, to any
Proceeding (including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the
simple or gross negligence, recklessness, or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the
Company’s obligations pursuant to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee
that is finally determined (under the procedures, and subject to the presumptions, set forth in Section 6 and Section 7
hereof) to be unlawful.

 

3. Contribution.

 

(a) Whether or not the indemnification
provided in Section 1 and Section 2 hereof is available, in respect of any Proceeding in which the Company is jointly liable
with Indemnitee (or would be if joined in such Proceeding), the Company shall pay the entire amount of any judgment or settlement of such
Proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any right of contribution
it may have against Indemnitee. The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable
with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims
asserted against Indemnitee.

 

(b) Without diminishing or
impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee shall elect or be required
to pay all or any portion of any judgment or settlement in any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding), the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and
all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined
in such Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction from which such Proceeding arose; provided,
however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further
adjusted by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee
who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand,
in connection with the events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations
which applicable law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company,
other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee,
on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by intent
to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their conduct
is active or passive.

 

 

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(c) The Company hereby agrees
to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by officers, directors, or employees
of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

 

(d) To the fullest extent
permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever,
the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines,
amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this
Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect
(i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such
Proceeding and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection
with such event(s) and/or transaction(s).

 

(e) The Company hereby acknowledges
that Indemnitee may have rights to indemnification for payment of the judgment or settlement amount provided by another entity (“Other
Indemnitor(s)”). The Company agrees with Indemnitee that the Company is the indemnitor of first resort of Indemnitee with
respect to matters for which indemnification is provided under this Agreement and that the Company will be obligated to make all payments
due to or for the benefit of Indemnitee under this agreement without regard to any rights that Indemnitee may have against the Other Indemnitor(s).
The Company hereby waives any equitable rights to contribution or indemnification from the Other Indemnitor in respect of any amounts
paid to Indemnitee hereunder until such time as the Indemnitee has been fully and finally indemnified. The Company further agrees that
no payment of Expenses or losses by the Other Indemnitor(s) to or for the benefit of Indemnitee shall affect the obligations of the Company
hereunder.

 

4. Indemnification for
Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee, by reason of his or her
Corporate Status, is a witness, or is made (or asked) to respond to discovery requests or otherwise asked to participate in any Proceeding
to which Indemnitee is not a party, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him
or her, or on his or her behalf, in connection therewith.

 

5. Advancement of Expenses.
Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by or on behalf of Indemnitee in
connection with defending any Proceeding within thirty (30) days after the receipt by the Company of a statement or statements from Indemnitee
requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement
or statements shall reasonably evidence the Expenses incurred by Indemnitee and Indemnitee shall also submit a written undertaking to
repay any Expenses advanced if it shall ultimately be determined by a court of competent jurisdiction that Indemnitee is not entitled
to be indemnified by the Company against such Expenses. Any advances and undertakings to repay pursuant to this Section 5 shall
be unsecured and interest free. In furtherance of the foregoing, Indemnitee hereby undertakes to repay such amounts advanced if, and to
the extent that, it shall ultimately be determined by a court of competent jurisdiction that Indemnitee is not entitled to be indemnified
by the Company pursuant to the terms of this Agreement.

 

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6. Procedures and Presumptions
for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee rights of indemnity
that are as favorable as may be permitted under the NRS and public policy of the State of Nevada. Accordingly, the parties agree that
the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee is entitled to indemnification
under this Agreement:

 

(a) To obtain indemnification
under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and
information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is
entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the
Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of Indemnitee to provide such
a request to the Company, or to provide such a request in a timely fashion, shall not relieve the Company of any liability that it may
have to Indemnitee unless, and to the extent that, the Company is actually and materially prejudiced as a result of such failure.

 

(b) Upon written request
by Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination with respect to Indemnitee’s
entitlement thereto shall be made in the specific case by one of the following three methods, which shall be at the election of the Board
(i) by a majority vote of a quorum consisting of Disinterested Directors (as defined below), (ii) if a majority vote of a quorum consisting
of Disinterested Directors so orders, or if a quorum of Disinterested Directors cannot be obtained, by Independent Counsel (as defined
below) in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (iii) by the stockholders of the Company.

 

(c) Notwithstanding anything
to the contrary set forth in this Agreement, if a request for indemnification is made after a Change in Control, at the election of Indemnitee
made in writing to the Company, and if the Board by a majority vote of a quorum consisting of Disinterested Directors orders the determination
of Indemnitee’s entitlement to indemnification to be made by an Independent Counsel, or if a quorum of Disinterested Directors cannot
be obtained, any determination required to be made pursuant to Section 6(b) above as to whether Indemnitee is entitled to indemnification
shall be made by Independent Counsel selected as provided in this Section 6(c). The Independent Counsel shall be selected by Indemnitee,
unless Indemnitee shall request that such selection be made by the Board. The party making the selection shall give written notice to
the other party advising it of the identity of the Independent Counsel so selected. The party receiving such notice may, within seven
(7) days after such written notice of selection shall have been given, deliver to the other party a written objection to such selection.
Such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 13 hereof, and the objection shall set forth with particularity the factual basis of such assertion.
Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is made, the Independent
Counsel so selected may not serve as Independent Counsel unless and until a court has determined that such objection is without merit.
If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof,
no Independent Counsel shall have been selected (or, if selected, such selection shall have been objected to) in accordance with this
paragraph, then either the Company or Indemnitee may petition the courts of the State of Nevada or other court of competent jurisdiction
for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall
designate, and the person with respect to whom an objection is favorably resolved or the person so appointed shall act as Independent
Counsel under Section 6(c) hereof. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred
by such Independent Counsel in connection with acting pursuant to Section 6(b) hereof. The Company shall pay any and all reasonable
and necessary fees and expenses incident to the procedures of this Section 6(c), regardless of the manner in which such Independent
Counsel was selected or appointed.

 

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(d) If the determination
of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof, the Independent Counsel
shall be selected as provided in this Section 6(d). The Independent Counsel shall be selected by the Board. Indemnitee may, within
ten (10) days after such written notice of selection shall have been given, deliver to the Company a written objection to such selection;
provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does
not meet the requirements of “Independent Counsel” as defined in Section 13 of this Agreement, and the
objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so
selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not
serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit.
If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof,
no Independent Counsel shall have been selected (or, if selected, such selection shall have been objected to) in accordance with this
paragraph, then either the Company or Indemnitee may petition the appropriate courts of the State of Nevada or other court of competent
jurisdiction for resolution of any objection which shall have been made by Indemnitee to the Company’s selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall
designate, and the person with respect to whom an objection is favorably resolved or the person so appointed shall act as Independent
Counsel under Section 6(b) hereof. The Company shall pay any and all reasonable fees and expenses of Independent Counsel in connection
with acting pursuant to Section 6(b) hereof, and the Company shall pay any and all reasonable fees and expenses incident to the
procedures of this Section 6(d), regardless of the manner in which such Independent Counsel was selected or appointed.

 

(e) In making a determination
with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that
Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof
and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company (including by its directors or independent
legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is
proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company
(including by its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall be a
defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(f) Indemnitee shall be deemed
to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise (as hereinafter
defined), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of
their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise
by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In addition,
the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed to
Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions of this
Section 6(f) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner
he or she reasonably believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption
shall have the burden of proof and the burden of persuasion by clear and convincing evidence. The Company will promptly advise Indemnitee
in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any
reason or basis for which indemnification has been denied.

 

(g) Notwithstanding anything
to the contrary set forth in this Agreement, if the person, persons or entity empowered or selected under Section 6 to determine
whether Indemnitee is entitled to indemnification shall not have been appointed or shall not have made a determination within sixty (60)
days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed
to have been made and Indemnitee shall be entitled to such indemnification, unless the Company establishes by written opinion of Independent
Counsel that (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law; provided, however, that such sixty (60) day period may be extended for a reasonable time, not
to exceed an additional thirty (30) days, if the person, persons or entity making such determination with respect to entitlement to indemnification
in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto; and provided,
further, that the foregoing provisions of this Section 6(g) shall not apply if the determination of entitlement to indemnification
is to be made by the stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days after receipt
by the Company of the request for such determination, the Disinterested Directors resolve as required by Section 6(b)(iii) of this
Agreement to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy
five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen
(15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days
after having been so called and such determination is made thereat.

 

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(h) Indemnitee shall cooperate
with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including
providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or
otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any
Independent Counsel or member of the Board or stockholder of the Company shall act reasonably and in good faith in making a determination
regarding Indemnitee’s entitlement to indemnification under this Agreement. Any costs or expenses (including attorneys’ fees
and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne
by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies
and agrees to hold Indemnitee harmless therefrom.

 

7. Remedies of Indemnitee.

 

(a) In the event that (i)
a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement,
(ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination of entitlement
to indemnification is made pursuant to Section 6(b) or Section 6(c) of this Agreement within sixty (60) days after receipt
by the Company of the request for indemnification, or such longer period, not to exceed an additional thirty (30) days, to which the period
may be extended pursuant to Section 6(g), (iv) payment of indemnification is not made pursuant to this Agreement within ten (10)
days after receipt by the Company of a written request therefor or (v) payment of indemnification is not made within ten (10) days after
a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant
to Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication of Indemnitee’s entitlement to such indemnification
or advancement of expenses either, at Indemnitee’s sole option, in (1) an appropriate court of the State of Nevada, or any other
court of competent jurisdiction or (2) an arbitration to be conducted by a single arbitrator, selected by mutual agreement of the Company
and Indemnitee, pursuant to the rules of the American Arbitration Association. The Company shall not oppose Indemnitee’s right to
seek any such adjudication.

 

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(b) In the event that a determination
shall have been made pursuant to Section 6(b) or Section 6(c) of this Agreement that Indemnitee is not entitled to indemnification,
(i) any judicial proceeding or arbitration commenced pursuant to this Section 7 shall be conducted in all respects de novo on the
merits, and Indemnitee shall not be prejudiced by reason of any adverse determination under Section 6(b) or Section 6(c);
and (ii) in any such judicial proceeding or arbitration, the Company shall have the burden of proving that Indemnitee is not entitled
to indemnification under this Agreement.

 

(c) If a determination shall
have been made pursuant to Section 6(b) or Section 6(c), or shall have been deemed to have been made pursuant to Section
6(g), of this Agreement that Indemnitee is entitled to indemnification, the Company shall be obligated to pay the amounts constituting
such indemnification within five (5) days after such determination has been made or has been deemed to have been made and shall be conclusively
bound by such determination in any judicial proceeding commenced pursuant to this Section 7, unless the Company establishes by
written opinion of Independent Counsel that (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s misstatement not materially misleading in connection with the request for indemnification or (ii) a prohibition
of such indemnification under applicable law.

 

(d) In the event that Indemnitee,
pursuant to this Section 7, seeks a judicial adjudication of, or an award in arbitration to enforce, his or her rights under, or
to recover damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies
maintained by the Company, the Company shall pay to him or her, or on his or her behalf, in advance, and shall indemnify him or her against,
any and all expenses (of the types described in the definition of Expenses in Section 13 of this Agreement) actually and reasonably incurred
by him or her in such judicial adjudication or arbitration, regardless of whether Indemnitee ultimately is determined to be entitled to
such indemnification, advancement of expenses or insurance recovery.

 

(e) The Company shall be
precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 7 that the procedures and
presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator
that the Company is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses
and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefore) advance, to
the extent not prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought
by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors’ and officers’
liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, advancement of Expenses or insurance recovery, as the case may be.

 

		8.	Non-Exclusivity; Survival of Rights; Insurance; Subrogation.

 

(a) The rights of
indemnification and advancement of expenses as provided by this Agreement shall not be deemed exclusive of, and shall be in addition
to, any other rights to which Indemnitee may at any time be entitled under applicable law, the Articles or the Bylaws of the
Company, any agreement, a vote of stockholders, a resolution of directors of the Company, or otherwise, and nothing in this
Agreement shall diminish or otherwise restrict Indemnitee’s rights to indemnification or advancement of expenses under any of
the foregoing. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of
Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to
such amendment, alteration or repeal. To the extent that a change in the NRS, whether by statute or judicial decision, permits
greater indemnification than would be afforded currently under the Articles, the Bylaws and this Agreement, it is the intent of the
parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change and Indemnitee shall be
deemed to have such greater benefits hereunder. No right or remedy herein conferred is intended to be exclusive of any other right
or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or
now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. The Company shall not adopt any
amendments to its Articles or Bylaws, the effect of which would be to deny, diminish or encumber Indemnitee’s right to
indemnification or advancement of expenses under this Agreement, any other agreement or otherwise, without the prior written consent
of the Indemnitee.

 

    8

     

    

 

(b) To the extent that the
Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents or fiduciaries
of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person
serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to
the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under such policy or policies. If,
at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance
in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures
set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay,
on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

(c) In the event of any payment
under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who
shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary
to enable the Company to bring suit to enforce such rights (with all of Indemnitee’s reasonable expenses, including, without limitation,
attorneys’ fees and charges, related thereto to be reimbursed by or, at the option of Indemnitee, advanced by the Company).

 

(d) The Company shall not
be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that Indemnitee has
otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

 

(e) The Company’s obligation
to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, employee
or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any
amount Indemnitee has actually received as indemnification or advancement of expenses from such other corporation, partnership, joint
venture, trust, employee benefit plan or other enterprise.

 

9. Exception to Right
of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make
any indemnity in connection with any claim made against Indemnitee:

 

(a) for which payment has
actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess
beyond the amount paid under any insurance policy or other indemnity provision; or

 

(b) for an accounting of
profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section
16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of
state statutory law or common law; or

 

(c) for any reimbursement
of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee
from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise
from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation
of Section 306 of the Sarbanes-Oxley Act); or

 

    9

     

    

 

(d) for any reimbursement
of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board or the
compensation committee of the Board, including but not limited to any such policy adopted to comply with stock exchange listing requirements
implementing Section 10D of the Exchange Act; or

 

(e) in connection with any
Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated
by Indemnitee against the Company (other than to enforce Indemnitee’s rights under this Agreement) or its directors, officers, employees
or other indemnitees, unless (i) the Board of the Company authorized the Proceeding (or such part of the Proceeding) prior to its initiation,
or (ii) the Company indemnifies Indemnitee, in its sole discretion, independently of this Agreement pursuant to the powers vested in the
Company under applicable law.

 

10. Retroactive Effect;
Duration of Agreement; Successors and Binding Agreement. All agreements and obligations of the Company contained herein shall
be deemed to have become effective upon the date Indemnitee first had Corporate Status; shall continue during the period Indemnitee
has Corporate Status; and shall continue thereafter so long as Indemnitee may be subject to any Proceeding (or any action commenced
under Section 7 hereof) by reason of his or her Corporate Status, whether or not he or she is acting or serving in any such capacity
at the time any liability or expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall
be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any direct
or indirect successor by purchase, merger, consolidation, reorganization or otherwise to all or substantially all of the business or assets
of the Company), assigns, spouses, heirs, executors and personal and legal representatives. The Company shall require any such successor
to all or substantially all of the business or assets of the Company, by agreement in form and substance satisfactory to Indemnitee and
his or her counsel, expressly to assume and agree to perform this Agreement in the same manner and to the same extent the Company would
be required to perform if no such succession had taken place. Except as otherwise set forth in this Section 10, this Agreement
shall not be assignable or delegable by the Company.

 

11. Security. To the
extent requested by Indemnitee and approved by the Board of the Company, the Company may at any time and from time to time provide security
to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral.
Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of Indemnitee.

 

 12. Enforcement.

 

(a) The Company
expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby in order to
induce Indemnitee to serve, or continue to serve, as an officer or a director of the Company, and the Company acknowledges that
Indemnitee is relying upon this Agreement in serving or continuing to serve as an officer or a director of the Company.

 

(b) This Agreement constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written
and implied, between the parties hereto with respect to the subject matter hereof.

 

    10

     

    

 

 13. Definitions. For purposes of this Agreement:

 

 (a) “Change in Control” means the occurrence of any one of the following events:

 

(i) any sale,
lease, exchange or other transfer (in one or a series of related transactions) of all or substantially all of the assets of the Company;

 

(ii) any “Person”
as such term is used in Section 13(d) and Section 14(d) of the Exchange Act becomes, directly or indirectly, the “beneficial owner”
as defined in Rule 13d-3 under the Exchange Act of securities of the Company that represent more than 50% of the combined voting power
of the Company’s then outstanding voting securities (the “Outstanding Company Voting Securities”);
provided, however, that for purposes of this Section 13(a)(ii), the following acquisitions shall not constitute a Change
in Control: (I) any acquisition directly from the Company, (II) any acquisition by the Company, (III) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any person or entity that directly or indirectly controls, is
controlled by or is under common control with the Company and/or to the extent provided by the Board, any person or entity in which the
Company has a significant interest, (IV) any acquisition by any corporation pursuant to a transaction that complies with Sections 13(a)(iv)(A)
and 13(a)(iv)(B), (V) any acquisition involving beneficial ownership of less than 50% of the then-outstanding shares of the Company’s
Class A common stock, par value $0.0001 per share (and any stock or other securities into which such ordinary shares may be converted
or into which they may be exchanged) (the “Outstanding Company Common Shares”) or the Outstanding Company Voting
Securities that is determined by the Board, based on review of public disclosure by the acquiring Person with respect to its passive investment
intent, not to have a purpose or effect of changing or influencing the control of the Company; provided, however, that
for purposes of this clause (V), any such acquisition in connection with (x) an actual or threatened election contest with respect to
the election or removal of directors or other actual or threatened solicitation of proxies or consents or (y) any “Business Combination”
(as defined below) shall be presumed to be for the purpose or with the effect of changing or influencing the control of the Company;

 

(iii) during
any period of not more than two (2) consecutive years, individuals who constitute the Board as of the beginning of the period (the “Incumbent
Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming
a director subsequent to the beginning of such period, whose election or nomination for election was approved by a vote of at least two-thirds
of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which
such person is named as a nominee for director, without written objection to such nomination) will be an Incumbent Director; provided,
however, that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened
election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of
any person other than the Board will be deemed to be an Incumbent Director;

 

    11

     

    

 

(iv) consummation
of a merger, amalgamation or consolidation (a “Business Combination”) of the Company with any other corporation,
unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners
of the Outstanding Company Common Shares and the Outstanding Company Voting Securities immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock (or, for a non-corporate entity,
equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election
of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business
Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially
all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their
ownership immediately prior to such Business Combination of the Outstanding Company Common Shares and the Outstanding Company Voting Securities,
as the case may be, and (B) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing
body) of the entity resulting from such Business Combination were Incumbent Directors at the time of the execution of the initial agreement
or of the action of the Board providing for such Business Combination;

 

		(v)	the stockholders of the Company approve a plan of complete liquidation of the Company.

 

(b)
 “Corporate Status” means the fact that a person is or was a director, officer, employee, agent or
fiduciary of the Company or is or was serving at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise.

 

(c) “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(d) “Enterprise”
shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that Indemnitee
is or was serving at the express written request of the Company as a director, officer, trustee, partner, manager, managing member, employee,
agent or fiduciary.

 

(e) “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts and other professionals,
witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, ERISA
excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred or actually incurred in connection
with prosecuting, defending, preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in
a Proceeding, or responding to, or objecting to, a request to provide discovery in a Proceeding. Expenses also shall include Expenses
incurred in connection with any appeal resulting from any Proceeding, including, without limitation, the premium, security for, and other
costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent. Should any payments by the Company to or for
the account of Indemnitee under this Agreement be determined to be subject to any federal, state or local income or excise tax, Expenses
shall also include such amounts as are necessary to place Indemnitee in the same after-tax position (after giving effect to all applicable
taxes) Indemnitee would have been in had no such tax been determined to apply to those payments. The parties agree that for the purposes
of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all Expenses
included in such demand that are certified by affidavit of Indemnitee’s counsel as being reasonable in the good faith judgment of
such counsel shall be presumed conclusively to be reasonable. Expenses, however, shall not include amounts paid in settlement by Indemnitee
or the amount of judgments or fines against Indemnitee.

 

    12

     

    

 

(f) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five (5) years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such
party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification
agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify
such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

(g) “Proceeding”
includes any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether
brought by or in the right of the Company or otherwise and whether civil, criminal, administrative, legislative or investigative (formal
or informal); in each case whether or not Indemnitee’s Corporate Status existed at the time any liability or expense is incurred
for which indemnification can be provided under this Agreement; including one pending on or before the date of this Agreement, but
excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his or her rights under this Agreement.

 

14. Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest
extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed
modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

 

15. Modification and Waiver.
No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by both of the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof
(whether or not similar) nor shall such waiver constitute a continuing waiver.

 

16. Notice by Indemnitee.
Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification covered
hereunder. The failure to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under
this Agreement unless, and only to the extent that, the Company is actually and materially prejudiced as a result of such delay or failure.

 

17. Notices. All notices
and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given (a) upon personal
delivery to the party to be notified, (b) when sent by confirmed facsimile, or (c) upon delivery when sent by a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent:

 

	 	(a) To Indemnitee at the address set forth below Indemnitee’s signature hereto.

 

	 	(b) To the Company at:

 

DraftKings Inc.

222 Berkeley
Street 5th Floor

Boston, Massachusetts 02116

Attention: Chief Legal Officer

Fax: (617) 249-1722

 

or to such other address as may have been furnished to Indemnitee by
the Company or to the Company by Indemnitee, as the case may be.

 

    13

     

    

 

18. Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

19. Headings. The
headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement
or to affect the construction thereof.

 

20. Successors and Assigns.
The terms of this Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee
and Indemnitee’s spouse, assigns, heirs, devisees, executors, administrators and other legal representatives.

 

21. Governing Law and
Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced
in accordance with, the laws of the State of Nevada, without regard to its conflict of laws rules. The Company and Indemnitee hereby irrevocably
and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement (other than an arbitration
pursuant to Section 7 hereof) shall be brought only in the Eighth Judicial District Court of Clark County (the “Nevada
Court”), and not in any other state or federal court in the United States of America or any court in any other country,
(ii) consent to submit to the exclusive jurisdiction of the Nevada Court for purposes of such action or proceeding, (iii) waive any objection
to the laying of venue of any such action or proceeding in the Nevada Court, and (iv) waive, and agree not to plead or to make, any claim
that any such action or proceeding brought in the Nevada Court has been brought in an improper or inconvenient forum.

 

[Remainder of page intentionally left blank]

 

    14

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement
on and as of the day and year first above written.

 

	 	COMPANY

 

	 	DRAFTKINGS INC.

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	INDEMNITEE

 

	 	 
	 	Name:	 
	 	Address:	 

 

[Signature Page to Indemnification
Agreement]Exhibit 10.2

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

AMENDED AND RESTATED TRADEMARK
LICENSE AGREEMENT

 

This AMENDED AND
RESTATED TRADEMARK LICENSE AGREEMENT (“Agreement”) is made and effective as of May 5, 2022 (the “Effective
Date”), by and among FERTITTA ENTERTAINMENT, LLC (f/k/a Golden Nugget, LLC), a Nevada limited liability company (“GN
Parent”), GNLV, LLC, a Nevada limited liability company (“Licensor”), and GOLDEN NUGGET ONLINE GAMING, LLC,
a New Jersey limited liability company (“Licensee”).

 

WHEREAS, Licensor
and Licensee entered into a Trademark License Agreement, dated as of December 29, 2020 (the “Original Agreement”),
pursuant to which Licensor licensed certain trademarks to Licensee;

 

WHEREAS, Licensor
and Licensee desire to enter into this Agreement to amend and restate and supersede the Original Agreement in its entirety, effective
as of the Effective Date;

 

WHEREAS, Licensor
has the right and authority to license the use of the trademarks set forth on Exhibit A attached hereto (collectively, the “Marks”);
and

 

WHEREAS, Licensee
desires to acquire from Licensor, and Licensor desires to grant to Licensee, licenses to use and display the Marks in connection with
engaging in the business of (i) online and mobile gaming (including, without limitation, “free-to-play” or “demo”
versions, in either case, associated with real money online and mobile gaming applications), (ii) online and mobile race and sports wagering,
(iii) online and mobile skills gaming, and (iv) other categories as mutually agreed to by Licensor and Licensee from time to time (collectively,
the “Business”), subject to certain limited exceptions as set forth in this Agreement.

 

NOW THEREFORE,
in consideration of the mutual promises contained herein and in the Commercial Agreement (as defined below), and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

		1.	GRANT OF LICENSE.

 

(a)             
License to the Marks.

 

(i)                
License Grant. During the License Term, Licensor, on behalf of itself and its Affiliates, hereby grants to Licensee
an exclusive (even as to Licensor and its Affiliates, except as otherwise provided in Section 1(a)(vi) below), non-transferable
(except as provided in Section 6), irrevocable (until this Agreement is terminated according to Section 7) license to use
and display the Marks solely in connection with the operation, promotion and marketing of the Business (the “Exclusive License”)
in any jurisdiction worldwide, subject to Section 1(a)(ii) (the “Territory”).

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(ii)               Use
in New Jurisdictions. If Licensor hereafter owns or controls any “GOLDEN NUGGET” trademarks in connection with goods
or services in the field of the Business, or related to the operation, promotion and marketing of the Business, including in any
additional jurisdiction, such trademarks will automatically be licensed to Licensee pursuant to Section 1(a)(i), and Licensor shall
notify Licensee, and the parties hereto will amend Exhibit A to include such trademarks as part of the Marks for all purposes
hereunder. If Licensee intends to use or display the Marks in any jurisdiction in which Licensor or any of its Affiliates does not
have any rights in or to the Marks as of or prior to such time (such jurisdiction, a “New Jurisdiction”),
Licensee shall so inform Licensor in writing (such a notice, a “New Jurisdiction Entry Notice”). Licensor shall
have forty-five (45) days from the date of a New Jurisdiction Entry Notice (the “New Jurisdiction Review Period”)
to evaluate, at its sole cost and expense, whether there are any third party trademarks in such New Jurisdiction that conflict with
the Marks proposed to be used or displayed by Licensee therein or whether the use and display of such Marks is reasonably likely to
result in liability to Licensor in such New Jurisdiction. Prior to the expiration of the New Jurisdiction Review Period, Licensor
shall notify Licensee in writing if Licensor has reasonably and in good faith determined that (A) the use and display of such Marks
in such New Jurisdiction conflicts with any third party trademarks registered in such New Jurisdiction or (B) the use and display of
such Marks in such New Jurisdiction is reasonably likely to result in liability to Licensor in such New Jurisdiction, and, in each
case, such notice shall set forth the reasons for such determination (such a notice, a “New Jurisdiction Concern
Notice”). Notwithstanding Licensor’s delivery of a New Jurisdiction Concern Notice, Licensee may still use and
display the proposed Marks in such New Jurisdiction pursuant to the licenses set forth in this Agreement; provided that
Licensee notifies Licensor prior to commencing any such use or display, and Licensee shall indemnify, defend and hold harmless
Licensor and its Affiliates for any third-party claims (including claims of infringement, dilution, and unfair competition) in such
New Jurisdiction to the extent arising from Licensee’s and its Permitted Sublicensees’ use and display of the proposed
Marks in such New Jurisdiction.

 

(iii)           
Sublicensing. Licensee may sublicense all or any portion of the rights set forth in Section 1(a)(i) to (A)
its Affiliates, (B) any of its or its Affiliates’ agents, subcontractors, vendors, contractors, partners and suppliers, in each
case, in connection with the operation, marketing or promotion of the Business, and (C) third-party casinos that provide market access
for Licensee and its Affiliates in connection with operating the Business to the extent required to comply with applicable gaming laws
and regulations (collectively, the “Permitted Sublicensees”).

 

(iv)            
Form of Use of Marks. The Exclusive License includes the right of Licensee and its Permitted Sublicensees to use
and display the Marks as part of trademarks and domain names for the Business in combination with:

 

A.              (1)
 “online gaming” (including “GNOG”), “online casino,” “iGaming,” “online sportsbook,”
 “fantasy sports,” “daily fantasy sports,” “interactive” or “interactive gaming,” (2)
any “DraftKings” trademarks or the phrase “powered by DraftKings,” and/or (3) any other generic or descriptive
terms customarily utilized by third parties engaged in the Business;

 

B.               (1)
any other trademarks owned or controlled by DraftKings Inc. (f/k/a New Duke Holdco, Inc., a Nevada corporation) (“DraftKings”)
or its Affiliates, or (2) any other trademarks to the extent required to comply with applicable gaming laws and regulations; provided
that, in the case of this subclause (B), Licensee may only combine such trademarks with “Golden Nugget Online Gaming,”
 “GNOG,” or other trademarks agreed to by the parties hereto pursuant to subclause (A) of this Section 1(a)(iv); or

 

C.               with
Licensor’s prior written approval, not to be unreasonably withheld, conditioned or delayed, any other trademarks reasonably related
to the Business; provided that to the extent Licensee seeks Licensor’s approval pursuant to this clause (C) (in accordance
with the notice procedures set forth in Section 10(a)), (1) Licensor’s failure to respond within thirty (30) days of such
request shall be deemed to constitute Licensor’s approval thereof and (2) if Licensor rejects any such proposed combination, it
shall provide Licensee with a written statement outlining the reasons therefor.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(v)               Restrictions.
Nothing in this Agreement shall allow Licensee to use any of the Marks in connection with any other activity or business other than
the Business, including operation or management of a land-based (i.e., “brick and mortar”) casino or hotel, except as
licensed pursuant to Section 1(b). For the avoidance of doubt, neither Licensor nor its Affiliates shall have the right to
use, display or license (and shall not license nor authorize any other person or entity to use or display) any of the Marks in
connection with the Business (other than to the extent of the Specified OSB Retained Rights (as defined below)) anywhere in the
world, and Licensor agrees not to, and shall ensure that its Affiliates do not, oppose, contest or otherwise object to
Licensee’s and its Permitted Sublicensees’ use or display of the Marks, so long as such use or display is in compliance
with the License (as defined below) granted under this Agreement. Any rights not expressly granted to Licensee under this Agreement
are reserved by Licensor.

 

(vi)            
Exceptions to Exclusivity. Notwithstanding anything to the contrary in Section 1(a)(i), GN Parent or any of
its applicable Affiliates may use the Marks to [***] (the “Specified OSB Retained Rights”).

 

(b)               
License to Brick and Mortar Marks.

 

(i)                
License Grant. During the License Term, Licensor, on behalf of itself and its Affiliates, hereby grants to Licensee
a non-exclusive, non-transferable (except as provided in Section 6), irrevocable (until this Agreement is terminated according
to Section 7) license to use and display the Brick and Mortar Marks (as defined below) and any other Marks sublicensed under the
Existing Sublicenses (as defined below), in each case in the Territory, solely to the extent required by third party brick and mortar
casino licensees for whom Licensee operates the Business pursuant to an operating or market access agreement with such third party (each,
an “Operating Agreement”), respectively, but only to the extent necessary to comply with applicable gaming laws and
regulations (the “Non-Exclusive License” and, together with the Exclusive License, the “License”).
Licensee may sublicense all or any portion of the rights set forth in this Section 1(b)(i) to such third parties; provided,
however, any such sublicense shall terminate as of the expiration or termination of the related Operating Agreement. Solely with
respect to any Operating Agreement entered into after the Effective Date (which, for clarity, shall exclude the Existing Sublicenses and
any other Operating Agreement entered into on or before the Effective Date), Licensee’s rights under this Section 1(b)(i)
shall be further subject to the following conditions: (A) the Non-Exclusive License shall be limited to the use of (x) “GOLDEN NUGGET
ONLINE GAMING” and “GNOG” and (y) any such other trademark reasonably related to the Business which Licensor determines,
in its reasonable business judgment, is sufficiently distinctive so as to distinguish the ownership and operation of such brick and mortar
casino from Licensor’s and its Affiliates’ ownership and operation of the “Golden Nugget” branded brick and mortar
casinos of Licensor and its Affiliates (such trademarks collectively, the “Brick and Mortar Marks”), (B) the Brick
and Mortar Marks will only be used in conjunction with a second distinguishing term similar to the co-branding utilized at the “DraftKings
at Casino Queen” casino located in East St. Louis, Illinois, and (C) to the extent applicable, Licensee shall include a disclaimer
on the applicable website or mobile application to disclose to the general public that neither Licensor nor its Affiliates owns, operates
or holds any financial interest in the casino utilizing such Brick and Mortar Marks. In the case of the following four (4) Operating Agreements
in existence as of the Effective Date, to the extent that Licensee has granted or agreed to grant a sublicense to use or display any Marks
other than Brick and Mortar Marks, Licensee shall use commercially reasonable efforts to limit its applicable sublicensee’s use
and display of the Marks to the Brick and Mortar Marks and/or to amend the applicable trademark licenses so that they are limited solely
to the Brick and Mortar Marks and used in accordance with the conditions set forth in clauses (A) through (C) above: [***] (collectively,
the “Existing Sublicenses”).

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(ii)              
Form of Use of Brick and Mortar Marks. The Non-Exclusive License includes the right of Licensee and its Permitted
Sublicensees to use and display the Brick and Mortar Marks (and any other Marks sublicensed under the Existing Sublicenses) in combination
with:

 

A.              (1) “online gaming” (including “GNOG”), “online casino,” “iGaming,” “online
sportsbook,” “fantasy sports,” “daily fantasy sports,” “interactive” or “interactive
gaming,” (2) any “DraftKings” trademarks or the phrase “powered by DraftKings,” and/or (3) any other generic
or descriptive terms customarily utilized by third parties engaged in the Business;

 

B.               (1) any other trademarks owned or controlled by DraftKings or its Affiliates, or (2) any other trademarks to the extent required
to comply with applicable gaming laws and regulations; provided that, in the case of this subclause (B), Licensee may only combine
such trademarks with “Golden Nugget Online Gaming,” “GNOG,” or other trademarks agreed to by the parties hereto
pursuant to subclause (A) of this Section 1(b)(ii); or

 

C.               with
Licensor’s prior written approval, not to be unreasonably withheld, conditioned or delayed, any other trademarks reasonably related
to the Business; provided that to the extent Licensee seeks Licensor’s approval pursuant to this clause (C) (in accordance
with the notice procedures set forth in Section 10(a)), (1) Licensor’s failure to respond within thirty (30) days of such
request shall be deemed to constitute Licensor’s approval thereof and (2) if Licensor rejects any such proposed combination, it
shall provide Licensee with a written statement outlining the reasons therefor.

 

		2.	OWNERSHIP AND PROTECTION OF THE MARKS.

 

(a)             
Goodwill. Licensee recognizes the significant value of the goodwill associated with the Marks and acknowledges and agrees
(i) that such Marks, and all rights therein and the goodwill pertaining thereto shall inure solely to Licensor, (ii) that such Marks have
acquired secondary meaning in the mind of the public, and (iii) that Licensee shall not, directly or indirectly, contest or challenge
Licensor’s ownership of all right, title and interest in and to such Marks or the validity thereof, including, without limitation,
the goodwill associated therewith. Notwithstanding anything expressed in this Agreement to the contrary, Licensee shall not acquire, be
deemed to have acquired and shall not claim any rights to such Marks other than the irrevocable License rights granted by Licensor, on
behalf of itself and its Affiliates, under this Agreement during the License Term.

 

(b)             Notice
of Infringement. Licensee shall give Licensor prompt written notice of any actual or threatened infringement, misappropriation or
other conflict with the Marks by any third party after Licensee has actual knowledge of such infringement, misappropriation or other
conflict. Licensor shall give Licensee prompt written notice of any actual or threatened infringement, misappropriation or other conflict
with the Marks online or that otherwise relates to or may reasonably be expected to impact the Business of Licensee or its Permitted
Sublicensees by any third party after Licensor has actual knowledge of such infringement, misappropriation or other conflict.

 

(c)             Notice
of Regulatory Action. Licensee shall promptly notify Licensor if Licensee receives, or if Licensee becomes aware that, a citation
has been issued or investigation commenced by any regulatory agency (federal, state or local) for violation of any law that may have
a reasonable likelihood of having an adverse effect on Licensor or damaging the goodwill associated with the Marks or included in the
Marks.

 

(d)            
Protection of Rights in the Marks.

 

(i)                 Licensor
shall, and shall cause its Affiliates to, take all actions reasonably necessary to preserve the value of the Marks, including by
exercising reasonable quality control with respect to use and display of the Marks. Licensor shall have the first right, but not the
obligation, to apply for, register for, and maintain registrations for the Marks. Upon Licensee’s request to register a new
Mark, Licensor may apply to register the relevant Mark in its name in connection with the relevant goods and services in such
jurisdiction; provided that the applicable costs incurred in connection with such registration shall be shared equally
between Licensor and Licensee, including, for clarity, any applicable costs incurred in connection with a proposed registration that
is subsequently denied. At Licensor’s sole cost and expense (subject to Section 2(d)(ii), and other than as set forth
in the foregoing sentence), Licensee shall provide Licensor with all commercially reasonable cooperation to assist Licensor in
protecting, applying for, registering, or maintaining any of Licensor’s rights in the Marks.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(ii)              
If Licensor fails to register or maintain any Marks hereunder in connection with goods or services in the field of the Business,
or related to the operation, promotion and marketing of the Business, Licensee shall have the right, but not the obligation, during the
License Term, to apply for, register, and maintain registrations of such Marks in the name of Licensor at Licensee’s sole cost and
expense (subject to Section 2(d)(i) and Section 2(e)); provided that if Licensor (x) does not apply for registration
of any Mark because Licensor has reasonably and in good faith determined that (A) the use and display of such Marks in the applicable
jurisdiction conflicts with any third party trademarks in that particular jurisdiction, (B) the registration of such Mark in connection
with the applicable goods and services in that particular jurisdiction is reasonably likely to be denied or opposed by the relevant trademark
office, or (C) the registration of such Mark in connection with the applicable goods or services in the applicable jurisdiction is reasonably
likely to result in liability to Licensor in that particular jurisdiction and (y) has notified Licensee of the reasons for such determination
within forty-five (45) days of receiving Licensee’s request to register such Mark, then if Licensee applies for registration of
such Mark in accordance with this Section 2(d)(ii), Licensee shall indemnify, defend and hold harmless Licensor and its Affiliates
for any third-party claims (including claims of infringement, dilution, and unfair competition) in that particular jurisdiction to the
extent arising from Licensee’s and its Permitted Sublicensees’ registration of such Mark in that particular jurisdiction (“Covered
Registration Claims”). Licensor, on behalf of itself or its applicable Affiliate, hereby irrevocably designates and appoints
Licensee and each of its duly authorized officers and agents as Licensor’s or such Affiliate’s agent and attorney in fact,
to act for and in Licensor’s or such Affiliate’s behalf and instead of Licensor or such Affiliate to execute and file any
document and to do all other lawfully permitted acts to further the purposes described in Section 2(d)(i) and this Section 2(d)(ii)
at Licensee’s sole cost (subject to Section 2(d)(i) and Section 2(e)), which shall constitute an irrevocable power
of attorney coupled with an interest. Except as set forth in this Section 2(d)(ii), Licensee will not attempt to register or apply
for (x) any trademarks that are the same as, or confusingly similar to, the Marks, in its own name (or in the name of any of its Affiliates
or Permitted Sublicensees) or (y) any trademarks in the name of Licensor.

 

(iii)           
Licensor will notify Licensee in writing in advance if Licensor or its applicable Affiliate (A) elects to abandon any registrations
for the Marks; or (B) plans to sell to any third party (other than an Affiliate of Licensor) any Marks. Licensor shall ensure, and shall
cause its Affiliates to ensure, that any assignee and any exclusive licensee (if the field of such license relates to the Business) of
any such Marks agrees in writing that such Marks are and shall remain subject to the License granted herein.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(e)                Licensor’s
Enforcement and Defense of Rights in the Marks. Licensor shall have the first right, but not the obligation, to bring
infringement actions, defend challenges and participate in similar adversarial proceedings against third parties relating to the
Marks (each, a “Proceeding”). If Licensor or any of its Affiliates elects to bring an infringement action against
a suspected infringer of a Mark in the field of the Business or engages in any other Proceeding, (i) Licensor shall promptly (and in
the event such action or other Proceeding relates to a Mark that is material to the Business of Licensee or its Permitted
Sublicensees, within ten (10) business days) notify Licensee in writing of such Proceeding, which written notice shall, in the event
such action or other Proceeding relates to a Mark that is material to the Business of Licensee or its Permitted Sublicensees,
contain the material facts and circumstances of such action or Proceeding, (ii) Licensor shall, or shall cause its applicable
Affiliates to, bring such Proceeding in Licensor’s own name, (iii) Licensee will join as a party (at Licensor’s expense)
if a court of competent jurisdiction determines Licensee is an indispensable party to such Proceeding and cannot otherwise be
joined, and (iv) if Licensee is not joined as a party to such Proceeding pursuant to the foregoing clause (iii), Licensee shall have
the right, but not the obligation, to jointly participate (at Licensee’s expense) in any such Proceeding, including to assert
any damages suffered by Licensee or its Affiliates, and if Licensee decides to participate therein, Licensor shall, and shall cause
its Affiliates to, reasonably cooperate with Licensee to facilitate such participation. In all such Proceedings, Licensor shall bear
its own costs and expenses, consult with Licensee in connection with such Proceedings and provide Licensee with meaningful
opportunity to review and comment on materials associated therewith, and give due consideration in good faith to Licensee’s
comments. If Licensor brings any such Proceeding or defends against any challenges to the Marks, Licensee shall reasonably cooperate
in all respects with Licensor in the conduct thereof, and shall assist in all reasonable ways, including having its employees
testify when reasonable to do so, and upon taking measures to ensure confidentiality obligations hereunder, make available for
discovery or trial exhibit relevant records, papers, information, samples, specimens, and the like, subject to Licensor’s
reimbursement of any out-of-pocket expenses and other reasonable costs (such as employee time taken to testify or prepare documents,
etc.) incurred on an on-going basis by Licensee in providing Licensor such assistance. If Licensor or any of its Affiliates
undertakes a Proceeding, any monetary recovery, damages, or settlement derived from such Proceeding will be allocated in the
following order (until such amount is exhausted): (1) Licensor shall retain the reasonable, documented and unreimbursed
out-of-pocket costs and expenses actually incurred by Licensor (including reasonable, documented and unreimbursed outside attorney
fees) in connection with the Proceeding; (2) Licensor shall remit to Licensee any reasonable, documented and unreimbursed
out-of-pocket costs and expenses actually incurred by Licensee or its Affiliates (including reasonable, documented and unreimbursed
outside attorney fees) in connection with such Proceeding; and (3) any remaining amounts shall be allocated between the parties
proportional to the respective damages suffered by such party and its Affiliates. Licensor may not, and shall ensure that its
Affiliates do not, settle any Proceeding in a manner that affects Licensee or its rights in the Marks without the prior written
approval of Licensee.

 

(f)                
Licensee’s Enforcement and Defense of Rights in the Marks. If (i) Licensor or its applicable Affiliate do not bring
a Proceeding against a suspected infringer or diluter of any of the Marks in the field of the Business within [***] of Licensor’s
awareness of such infringement or dilution, or (ii) Licensor or its applicable Affiliate (or any receiver, trustee, custodian or similar
agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of Licensor’s or
its applicable Affiliate’s property or business) is unable or unwilling to do so (including if Licensor or its applicable Affiliate
undergoes a Bankruptcy Event), then Licensee shall have the right, but not the obligation, to bring a Proceeding or otherwise seek to
enforce its rights against such suspected infringer or diluter, in each case, in Licensee’s own name, at Licensee’s sole cost
and expense. Licensor will, and will cause its applicable Affiliate to, join as a party (at Licensee’s expense) if a court of competent
jurisdiction determines Licensor or such Affiliate is an indispensable party to such Proceeding and cannot otherwise be joined. If Licensee
brings any such Proceeding, Licensor shall, and shall cause its applicable Affiliate, to, reasonably cooperate in all respects with Licensee
in the conduct thereof, and shall assist in all reasonable ways, including having its employees testify when reasonable to do so, and
upon taking measures to ensure confidentiality obligations hereunder, make available for discovery or trial exhibit relevant records,
papers, information, samples, specimens, and the like, subject to Licensee’s reimbursement of any reasonable and documented out-of-pocket
expenses and other reasonable and documented costs (such as employee time taken to testify or prepare documents, etc.) incurred on an
on-going basis by Licensor and its Affiliates in providing Licensee such assistance. If Licensee undertakes a Proceeding, any monetary
recovery, damages, or settlement derived from such Proceeding will be retained in its entirety by Licensee. Licensee may not settle any
such action in a manner that adversely affects Licensor or its rights in the Marks without the prior written approval of Licensor (such
approval not to be unreasonably withheld, conditioned or delayed).

 

(g)               
Customer Confusion, Mistake or Deception. In the event that Licensee or Licensor becomes aware of any incident of
actual customer confusion or mistake or deception as to the source of the parties’ respective goods and services arising from either
party’s use of the Marks, the parties shall use their best efforts to agree upon reasonable steps to ensure that such confusion
does not recur.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(h)               
 Licensor’s Representations and Warranties. Licensor, on behalf of itself and its Affiliates, hereby represents and
warrants to Licensee that: (i) Licensor or one of its Affiliates is the sole and exclusive owner of the registered Marks listed in the
table set forth on Exhibit A (the “Registered Marks”); (ii) Licensor has the valid and lawful right to grant
the License and other rights granted to Licensee under this Agreement with respect the Registered Marks, and has obtained all authorizations,
consents or permissions as may be necessary in connection therewith; (iii) the License and other rights granted to Licensee under this
Agreement, and the performance by Licensor and its Affiliates of their obligations under this Agreement, do not violate, breach or otherwise
conflict with Licensor’s or its Affiliates’ organizational documents, any applicable law or any other agreement to which Licensor
or any of its Affiliates is a party or to which the Marks are subject; (iv) the Registered Marks are subsisting, and to Licensor’s
knowledge, valid and enforceable; and (v) to Licensor’s knowledge, as of the Effective Date, no third party is infringing, misappropriating
or otherwise violating any of the Marks in a manner that has had or is reasonably likely to have a material adverse effect on the Business
as presently conducted.

 

		3.	TERM.

 

The parties hereto
agree that the Agreement term shall commence on the Effective Date and shall continue until the 50th anniversary of the Closing Date,
unless earlier terminated pursuant to Section 7 of this Agreement (the “License Term”).

 

		4.	FEES; SET-OFF.

 

(a)               
Fees. In consideration of the licenses granted to Licensee hereunder, (i) Licensee shall, or shall cause Crown to, without
duplication, pay any Net Gaming Revenue or Brand Royalty Fee amounts due and payable by Crown under the Commercial Agreement in accordance
with the terms and subject to the conditions of the Commercial Agreement, subject to the Dispute Resolution Mechanism (as defined below),
and (ii) Licensee shall pay to Licensor (A) with respect to goods and services within the field of the Business branded under the Marks
(other than, for the avoidance of doubt, any good and services within the field of the Business to the extent such goods and services
constitute Online Offerings under the Commercial Agreement, but including, for the avoidance of doubt, online and mobile horse race wagering
and online and mobile poker, in each case, branded under the Marks), a [***] fee equal to either [***] (such fees, the “Other
Revenue Royalty Fees”), and (B) with respect to the sale of GNOG Merchandise by Licensee (excluding, for the avoidance of doubt,
the distribution of gifts, giveaways and complimentary items), a [***] fee of [***] (such fees, the “Merchandise Royalty Fees”
and, together with the Brand Royalty Fees and Other Revenue Royalty Fees, the “Fees”). All Net Gaming Revenue and Brand
Royalty Fee amounts paid to Licensor under Clause (i) of this Section 4(a) and all Other Revenue Royalty Fees paid to Licensor under Clause
(ii)(A) of this Section 4(a), in each case, shall count towards the MG commitment provided for in the Commercial Agreement (and, for clarity,
only in the event that (x) the Net Gaming Revenue and Brand Royalty Fee amounts received by FEI under the Commercial Agreement plus
(y) the Net Gaming Revenue and Brand Royalty Fee amounts received by Licensor under Clause (i) of this Section 4(a) plus (z) the
Other Revenue Royalty Fees received by Licensor under Clause (ii)(A) of this Section 4(a), all in the aggregate, fail to meet the MG commitment
provided for in the Commercial Agreement shall any MG true up payment be due and payable).

 

(b)               
Statements. The parties hereby acknowledge and agree that the section of the Commercial Agreement entitled “Statements”
shall govern with respect to statements and reports for the Other Revenue Royalty Fees and the Merchandise Royalty Fees, and shall apply
to this Agreement mutatis mutandis.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(c)                Bankruptcy;
Set-Off. In the event of a Bankruptcy Event of Licensor in which Licensor rejects this Agreement and Licensee elects to retain
its right to use the Marks pursuant to Section 365(n) of the Bankruptcy Code, Licensee shall remain obligated to pay any Other
Revenue Royalty Fees and any Merchandise Royalty Fees, and for the avoidance of doubt, shall also remain obligated to cause Crown to
pay the Brand Royalty Fees in accordance with the terms and subject to the conditions of the Commercial Agreement and shall remain
liable to Licensor for Brand Royalty Fees that Crown fails to pay in accordance with the terms of the Commercial Agreement, in each
case, subject to the Dispute Resolution Mechanism and for so long as Licensee is an Affiliate of Crown; provided, however,
Licensee shall have the right to carry forward, for application against any (i) Other Revenue Royalty Fees, (ii) Merchandise Royalty
Fees, and (iii) any Brand Royalty Fees payable by Crown under the Commercial Agreement, any costs incurred by Licensee to apply for,
register, maintain, enforce, or defend the Marks (to the extent such costs are incurred as a result of Licensor’s rejection of
this Agreement), including pursuant to the power of attorney granted in Section 2(d) hereof. For the avoidance of doubt, (A)
the obligations to pay the Brand Royalty Fees hereunder remain subject to any “set-off” or “offset” rights
that are explicitly set forth in this Agreement or the Commercial Agreement, (B) in no instance will Licensee be obligated to pay
Brand Royalty Fees hereunder to the extent already paid by Crown under the Commercial Agreement and (C) any Brand Royalty Fees paid
under this Agreement or the Commercial Agreement which would also be owed under the other shall be in lieu of, and not in addition
to, such amounts owed under the other.

 

		5.	QUALITY CONTROL AND USE OF THE MARKS.

 

(a)               
Quality Standards. The nature and quality of the Business and the use of the Marks, along with all representations of the
Marks included therein, in connection therewith, shall be of a high standard and quality so as to reflect favorably upon the Business
but in any event no less than substantially the same quality, usage, style and appearance as historically used by Golden Nugget Atlantic
City in connection with its online and mobile gaming and online and mobile sports wagering business concerning such Marks, and shall not
knowingly place the Marks or Licensor in a negative light or context (the “Quality Standards”). Licensor agrees that
Licensee’s use and display of the Marks in a manner that is consistent in all material respects with Licensee’s use and display
of the Marks immediately prior to the Closing Date of the Merger Agreement shall be deemed to be in compliance with the Quality Standards;
provided, however, Licensor may make changes to its branding guidelines from time to time and Licensor may require Licensee
to comply with such updated guidelines, provided that Licensor (i) shall not update the branding guidelines more than once every
three (3) calendar years, (ii) consults with Licensee on any contemplated updates prior to finalization and gives due consideration in
good faith to Licensee’s comments, (iii) provides Licensee with prior written notice of any finalized updated branding guidelines,
(iv) gives Licensee a reasonable period of time to make any necessary changes to comply with such updated branding guidelines (which in
all cases, shall be no less than ninety (90) days after notice of such finalized updated guidelines), (v) shall not update or apply the
branding guidelines in a discriminatory manner against Licensee or any of its Permitted Sublicensees, and (vi) shall not update the branding
guidelines in a manner that would materially alter or restrict Licensee’s or its Permitted Sublicensees’ use or display of
the Marks as contemplated by Section 1. Neither party hereto shall knowingly use the Marks in connection with firearms, weapons,
ammunition, obscene, lewd, or pornographic materials, any items with a sexual function or purpose, or any illegal activities. Licensee
shall display the Marks in accordance with sound trademark usage principles, including using commercially reasonable efforts to use ®
in connection with use or display of the Registered Marks.

 

(b)               
Reporting and Inspection. In order to preserve the validity and integrity of the Marks, Licensee shall permit representatives
of Licensor to inspect the facilities of Licensee engaged in using or displaying the Marks or performing the services offered under the
Marks at any time during normal business hours to ensure that (i) Licensee is maintaining the Quality Standards, and (ii) Licensee’s
use and display of the Marks are permissible as set forth in this Agreement. Licensor shall provide not less than five (5) business days’
prior written notice of a request for an inspection. Any such inspection shall be conducted in a manner that will not interfere with Licensee’s
or its Affiliates’ normal business activities and may only occur once in any twelve (12) month period (such that after an inspection
is performed, Licensor may not perform an inspection until twelve (12) months following such inspection). Notwithstanding the foregoing,
if any inspection reveals material non-conformance with the Quality Standards, then Licensor may conduct an additional inspection, at
its discretion, within such twelve (12) month period. Licensee shall at reasonable request of Licensor, not to exceed two (2) times in
any twelve (12) month period, submit without charge to Licensor representative samples of its use and display of the Marks.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

		6.	ASSIGNMENT.

 

(a)                Licensor
may not assign or transfer this Agreement other than in connection with a sale of all or substantially all of Licensor’s
casino business or the Golden Nugget brand. Except as set forth in Section 6(c), Licensee shall not assign or otherwise
transfer this Agreement to a third party, whether by assignment, by operation of law, or otherwise (in each case, a
 “Contract Transfer”) without the prior written consent of Licensor, such consent not to be unreasonably withheld,
conditioned, or delayed. A transfer of control of Licensee or a majority of the ownership of Licensee, whether by a single
transaction or in a series of transactions shall be deemed to be a Contract Transfer requiring Licensor’s consent hereunder
(other than in the circumstances set forth in Section 6(c)); provided that, for the avoidance of doubt,
Licensor’s consent right hereunder shall be solely with respect to transfer of this Agreement and shall not be required in the
event of a transfer of control of Licensee or a majority of the ownership of Licensee, whether by a single transaction or in a
series of transactions, or any assets (other than this Agreement) of Licensee, in each case, so long as Licensee’s ultimate
parent company immediately prior to such Contract Transfer (for clarity, as of the Effective Date, DraftKings Inc. or any successor
parent company thereof) or any Affiliate thereof remains the “Licensee” under this Agreement. Licensee shall give
Licensor at least thirty (30) days prior written notice of any proposed Contract Transfer, which shall specify (x) the nature and
terms of the proposed Contract Transfer, (y) the identity of the transferee, and (z) such information reasonably necessary for
Licensor to determine that the conditions set forth in Section 6(b) are satisfied.

 

(b)               
Licensor agrees that it will not withhold consent to a proposed Contract Transfer if, as of the effective date of the proposed
Contract Transfer, the following conditions are met, to its reasonable satisfaction:

 

		(i)	[***].

 

		(ii)	[***].

 

		(iii)	[***].

 

		(iv)	[***].

 

		(v)	[***].

 

		(vi)	[***].

 

		(vii)	[***].

 

		(viii)	[***].

 

(c)               
Notwithstanding anything to the contrary, (i) this Agreement and all of Licensee’s rights and obligations hereunder shall
automatically transfer to any collateral agent or its designee as provided in any credit agreement or security interest in connection
with any loan provided to Licensee or its Affiliates and (ii) Licensee may assign this Agreement without prior written notice to, or the
consent of, Licensor in connection with (1) a change of control of Licensee’s ultimate parent company (i.e., DraftKings Inc. or
any successor parent company thereof), (2) a sale of all or substantially all of the business of Licensee’s ultimate parent company
(i.e., DraftKings Inc. or any successor parent company thereof) and its subsidiaries, or (3) a sale of all or substantially all of the
iGaming business of Licensee’s ultimate parent company (i.e., DraftKings Inc. or any successor parent company thereof) and its subsidiaries;
provided, however, that Licensee shall provide Licensor with written notice within thirty (30) days after any such Contract
Transfer. This Agreement shall inure to the benefit of, and be binding upon, the parties and their respective permitted successors and
permitted assigns.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

		7.	DEFAULT; TERMINATION.

 

(a)               
Licensor may only terminate this Agreement upon written notice to Licensee if Licensee has committed a material breach of any
of its representations, warranties, covenants, duties, or obligations under this Agreement and has failed to cure such material breach
within thirty (30) days after having received a written notice of the breach from Licensor; provided, however, that (i)
in the event a breach is curable and cannot be cured within such thirty (30) day period, then Licensee shall be entitled to such additional
time (not to exceed thirty (30) days of additional time, for a total of sixty (60) days) (the “Cure Period”) as is
reasonably required to effectuate a cure as long as Licensee has commenced and proceeds to effectuate such a cure, and (ii) with respect
to any breach of Section 5, Licensor may only terminate this Agreement if (A) Licensor’s written notice of such breach cites
with specificity the basis on which Licensor is alleging that Licensee is in breach of Section 5 (the “Quality Control
Breach Notice”), (B) Licensee has failed to cure such breach on a go-forward basis (i.e., without regard for the specific breach(es)
identified in the Quality Control Breach Notice) within ninety (90) days after receipt of such Quality Control Breach Notice from Licensor
(the “Initial Quality Control Cure Period”); provided that, if such breach is not curable within the Initial
Quality Control Cure Period, Licensee shall be entitled to such additional time as is reasonably required to effectuate a cure as long
as Licensee has commenced and diligently proceeds to effectuate such a cure and (C) to the extent Licensee in good faith purports to
have cured such breach pursuant to the foregoing clause (B) and Licensor reasonably and in good faith determines that such purported
cure is insufficient, (x) Licensor shall deliver a second Quality Control Breach Notice to Licensee, which cites with specificity the
basis on which such purported cure has been determined to be insufficient and (y) Licensee shall be entitled to (1) an additional thirty
(30) days after receipt of such second Quality Control Breach Notice from Licensor (the “Secondary Quality Control Cure Period”)
to cure such breach on a go-forward basis (i.e., without regard for any specific breach(es) identified in any Quality Control Breach
Notice); provided that, if such breach is not curable within the Secondary Quality Control Cure Period, Licensee shall be entitled
to such additional time as is reasonably required to effectuate a cure as long as Licensee has commenced and diligently proceeds to effectuate
such a cure within the Secondary Quality Control Cure Period or (2) seek recourse from a court of competent jurisdiction or other tribunal
(in which case, Licensor shall not terminate this Agreement unless and until a final determination has been made by a court of competent
jurisdiction or tribunal in favor of Licensor with respect to the purported breach). For clarity, (x) all breaches of Section 5
are deemed curable and (y) non-payment of any amounts in dispute in good faith will not be considered a material breach of this Agreement
until a final determination has been made by a court of competent jurisdiction that such amounts are due and payable.

 

(b)               
The Agreement shall automatically terminate if Crown elects not to renew the Commercial Agreement or elects to terminate
the Commercial Agreement, in each case, in its entirety in accordance with its terms.

 

(c)               
In addition, Licensee and Licensor may terminate this Agreement in a writing signed by both Licensee and Licensor.

 

		8.	EFFECT OF TERMINATION OR EXPIRATION.

 

(a)               
Upon and after the expiration or termination of this Agreement, all rights granted to Licensee hereunder shall automatically
terminate and Licensee shall have no further right to use the Marks in connection with the Business. Notwithstanding anything to the contrary
in this Agreement, Licensee shall be permitted to continue using and displaying the Marks after termination or expiration of this Agreement
in a manner that does not create a likelihood of confusion, consistent with “fair use,” solely (i) for reference to the historical
branding of the Business, or the relationship between Licensee, on the one hand, and Licensor and its Affiliates, on the other hand, (ii)
for retention of any books, records or other materials for internal archival purposes (and not public display), and (iii) as required
by applicable Laws, including in connection with any corporate filings.

 

(b)               
As promptly as practicable but in no event later than [***] from the date of expiration or any other form of termination
of the License Term with respect to the Business (such period be referred to as “Phase Out Period”), Licensee shall
change all trade names, online names, company names or business names of the Licensee so as to eliminate the use or inclusion therein
of the Marks. Licensee shall provide a written certification to Licensor signed by an officer of Licensee stating that Licensee has complied
with the requirements of this Section 8(b). If Licensee is using the Marks during the Phase Out Period (other than as set forth
in Section 8(a)), it shall take commercially reasonable steps to inform the general public, customers, suppliers and contractors
that it is not a licensee of Licensor and is using the Marks with permission solely to facilitate the transition to a new brand. After
the Phase Out Period, Licensee shall thereafter refrain from operating or doing business under any name that would give the general public
the impression that the License granted pursuant to this Agreement is still in force or that Licensee is in any way connected or affiliated
with or sponsored by Licensor. Notwithstanding the foregoing, Licensee may continue to maintain archival copies of contracts, annual
reports and marketing materials that include the Marks solely for archival purposes.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(c)               
If and to the extent this Agreement is terminated by Licensor and Licensee disputes in good faith Licensor’s grounds
for such termination, then Licensor shall not, and shall cause its Affiliates not to, directly or indirectly, use or display, authorize
or otherwise permit any third party to use or display, any of the Marks in connection with the Business for the period commencing on the
date of termination by Licensor of this Agreement and expiring [***] after such date (the “Cool-Off Period”); provided,
however, (i) Licensor is not restricted during the Cool-Off Period from [***], and (ii) the Cool-Off Period shall terminate immediately
upon the resolution of such dispute by mutual agreement of the parties (unless otherwise mutually agreed in connection with such mutual
agreement) or a final determination of a court of competent jurisdiction, in each case, in favor of Licensor.

 

		9.	DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITY; INDEMNIFICATION.

 

(a)             WITHOUT
LIMITING ANY REPRESENTATIONS OR WARRANTIES EXPLICITLY SET FORTH IN THE MERGER AGREEMENT, AND EXCEPT AS EXPRESSLY SET FORTH IN SECTION
2(H), THE MARKS ARE PROVIDED BY LICENSOR AS IS, AND LICENSOR EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, WHETHER EXPRESSED, IMPLIED
OR STATUTORY, REGARDING THE MARKS, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT
OF MARKS. NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL, EXEMPLARY OR INCIDENTAL DAMAGES
(INCLUDING, WITHOUT LIMITATION, LOSS OF PROFITS) ARISING OUT OF OR RELATED TO THIS AGREEMENT, HOWEVER CAUSED AND UNDER ANY THEORY OF
LIABILITY (INCLUDING, WITHOUT LIMITATION, NEGLIGENCE AND CONTRACT), EVEN IF SUCH PARTY HAS BEEN ADVISED IN ADVANCE OF THE POSSIBILITY
OF SUCH DAMAGES.

 

(b)            
Licensor hereby agrees to indemnify, defend, and hold harmless Licensee, its Affiliates, and its or their members, shareholders,
employees, agents, representatives, directors, officers, successors, Permitted Sublicensees, and permitted assigns, from and against any
and all third-party claims arising in whole or in part, directly or indirectly, out of or in consequence of any allegation of intellectual
property infringement or trademark dilution based on Licensee’s use or display of any of the Marks in material compliance with the
terms of this Agreement, but excluding, for the avoidance of doubt, any allegation of infringement or dilution to the extent it is based
on the combination of the Marks with other words, phrases, terms or trademarks as permitted pursuant to Section 1(a)(iv) or Section
1(b)(ii).

 

(c)            
Licensee shall indemnify, defend, and hold harmless Licensor, its Affiliates, and its or their members, shareholders, employees,
agents, representatives, directors, officers, successors, and permitted assigns from and against any and all third-party claims arising
in whole or in part, directly or indirectly, out of any allegation of intellectual property infringement or trademark dilution based on
Licensee’s use of any of the Marks in violation of the terms of this Agreement.

 

(d)                Except
as expressly provided to the contrary herein, it is the intent of the parties that where fault is determined to have been joint or
contributory, principles of comparative fault will be followed and each party shall bear the proportionate cost of any indemnifiable
losses attributable to such party’s fault.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

		10.	MISCELLANEOUS.

 

(a)               
Notices. All notices and other communications required or permitted to be given under this Agreement shall be in
writing and shall be delivered either by personal service, facsimile, e-mail or prepaid overnight courier service and addressed as follows:

 

	 	If to Licensee:	DraftKings Inc.
	 	 	222 Berkeley St., 5th Floor
	 	 	Boston, MA 02116
	 	 	Attention: Jason Robins, Chief Executive Officer
	 	 	Email: jrobins@draftkings.com
	 	 	 
	 	 	With a copy to:
	 	 	 
	 	 	DraftKings Inc.
	 	 	222 Berkeley St., 5th Floor
	 	 	Boston, MA 02116
	 	 	Attention: R. Stanton Dodge, Chief Legal Officer and Secretary
	 	 	Email: sdodge@draftkings.com

 

	 	If to Licensor:	GNLV, LLC.

	 	 	1600 West Loop South, Floor 30
	 	 	Houston, Texas 77027
	 	 	Attention: General Counsel
	 	 	Telephone: (713) 386-7000
	 	 	Telecopy: (713) 386-7070
	 	 	Email: sscheinthal@ldry.com; dkohlhausen@ldry.com

 

(b)             Disclaimer
of Agency. Nothing in this Agreement shall create a partnership or joint venture or establish the relationship of principal and agent
or any other relationship of a similar nature between the parties hereto, and no party shall have the power to obligate or bind the other
in any manner whatsoever.

 

(c)             Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

 

(d)             Survival.
All rights and obligations herein that are by their nature continuing will survive expiration or termination of this Agreement.

 

(e)             General.
This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, excluding its provisions
concerning conflict of laws. Each party acknowledges that it has had ample opportunity to have this Agreement reviewed and
negotiated by competent counsel, and waives any right it may have to interpret a writing against the drafter thereof. This
Agreement, together with the Commercial Agreement, constitutes the complete agreement of the parties hereto on the subject matter
covered herein and supersedes all other prior or contemporaneous understandings, agreements or representations, written or oral. For
the avoidance of doubt, from and after the Effective Date, this Agreement replaces and supersedes the Original Agreement, and the
Original Agreement shall automatically be terminated and be of no further force or effect. No term or provision of this Agreement
may be waived and no breach excused, unless such waiver or consent shall be in writing and signed by the party claimed to have
waived or consented. No waiver of a breach shall be deemed to be a waiver of a different or subsequent breach. This Agreement may
not be amended except by a written instrument signed by authorized representatives of all parties hereto and expressly declared to
be an amendment or modification thereof. The headings used in this Agreement are for reference purposes only and shall not be deemed
a part of this Agreement. If any provision of this Agreement is held to be invalid, illegal or unenforceable, then the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

(f)                
Bankruptcy. All rights and licenses under the Marks granted under or pursuant to this Agreement are, and shall otherwise
be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code (the “Bankruptcy Code”), licenses
of rights to “intellectual property” as defined under Section 101 of the Bankruptcy Code. Licensee shall retain and may fully
exercise all of its rights and elections under the Bankruptcy Code in the event of the commencement of a bankruptcy proceeding by or against
Licensor or its applicable Affiliate under the Bankruptcy Code.

 

(g)               
Further Assurances. Each party shall take such further actions and provide to the other parties, its successors,
assigns or other legal representatives, such cooperation and assistance as may be reasonably requested by the other parties (at the other
parties’ cost) to more fully and effectively effectuate the purposes of this Agreement.

 

(h)               
Equitable Relief. In the event of a material breach of this Agreement by a party, the parties acknowledge and agree
that: (i) such breach is likely to cause significant and irreparable harm to the other parties and will not be susceptible to cure
by the payment of monetary damages and (ii) if not cured within the Cure Period, the non-breaching party shall be entitled to obtain
injunctive relief and/or other equitable relief, in addition to other remedies afforded under this Agreement or by law, all of which shall
be cumulative, to prevent or restrain such breach of this Agreement. In the event that a party shall employ an attorney to enforce the
terms and conditions of this Agreement, the prevailing party in such action be entitled to recover all reasonable costs and expenses sustained
by the enforcing party in the enforcement of such terms and obligations, including but not limited to reasonable attorneys’ fees
and expenses, costs of collection and court costs.

 

(i)                
Privileged License. Licensee hereby acknowledges that Licensor and its Affiliates are businesses that have gaming
licenses issued by the state gaming authorities (each a “Commission”). If required by any regulatory authority having
jurisdiction over Licensor, and if requested to do so by Licensor, Licensee shall, at Licensee’s expense, obtain any license, qualification,
clearance or the like necessary for Licensee to operate the Business.

 

(j)                
Certain Definitions.

 

(i)              For purposes of this Agreement, the capitalized terms have the meanings ascribed to such terms in Section 10(j)(ii)
of this Agreement or as otherwise defined elsewhere in this Agreement. All capitalized terms used herein, but otherwise not defined, shall
have the meanings ascribed to them in the Merger Agreement.

 

(ii)             For
purposes of this Agreement, the following terms shall have the meanings set forth below:

 

“Affiliate”
means, with respect to any person or entity, any other person or entity directly or indirectly controlling, controlled by, or under common
control with such first person or entity as of the date on which, or at any time during the period for which, the determination of affiliation
is being made. For purposes of this definition, the term “control” (including the correlative meanings of the terms “controlled
by” and “under common control with”), as used with respect to any person or entity, means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of such first or entity, whether through the ownership
of voting securities, by contract or otherwise.

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

“Bankruptcy
Event” means an event in which either party (A) becomes insolvent or is generally unable to pay, or fails to pay, its debts
as they become due, (B) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject,
voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law, (C) makes or seeks to
make a general assignment for the benefit of its creditors, or (D) applies for or has appointed a receiver, trustee, custodian or
similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property
or business.

 

“Brand
Royalty Fee” has the meaning set forth in the Commercial Agreement.

 

“Closing
Date” means the “Closing Date” as defined in the Merger Agreement.

 

“Commercial
Agreement” means that certain Master Commercial Agreement, entered into as of August 9, 2021, by and among Fertitta Entertainment,
Inc. (“FEI”) and Crown Gaming Inc., a wholly owned subsidiary of DraftKings (“Crown”).

 

“Dispute
Resolution Mechanism” has the meaning set forth in the Commercial Agreement.

 

“GNOG
Merchandise” means all goods or products bearing any Marks that are sold within the following categories: (1) apparel for men
and women, (2) fashion accessories for men and women, (3) housewares, (4) drinkware, (5) luggage/backpacks, (6) outdoor cooking devices/tools/accessories,
(7) car accessories, (8) recreational games and activities, and (9) such additional categories as the parties may agree to subsequently
in writing.

 

“Merger
Agreement” means that certain Agreement and Plan of Merger, dated as of August 9, 2021, among Golden Nugget Online Gaming, Inc.,
a Delaware corporation and the indirect parent corporation of Licensee, DraftKings, DraftKings Holdings Inc. (f/k/a DraftKings Inc.),
a Nevada corporation, Duke Merger Sub, Inc., a Nevada corporation, and Gulf Merger Sub, Inc., a Delaware corporation.

 

“MG”
has the meaning set forth in the Commercial Agreement.

 

“Net
Gaming Revenue” has the meaning set forth in the Commercial Agreement; provided that, [***].

 

“Online
Offering” has the meaning set forth in the Commercial Agreement.

 

“Trademarks”
or “trademarks” mean all trademarks, service marks, trade names, service names, brand names, certifications, corporate
names, logos, and any and all other indications of origin, including all goodwill associated therewith.

 

(k)               
Interpretation. Unless the express context otherwise requires: (i) the words “hereof,” “herein”
and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not
to any particular provision of this Agreement; (ii) the terms defined in the singular have a comparable meaning when used in the plural,
and vice versa; (iii) references herein to a specific Section or Exhibit shall refer, respectively, to Sections or Exhibits of this Agreement;
and (iv) wherever the word “include,” “includes” or “including” is used in this Agreement, it shall
be deemed to be followed by the words “without limitation.”

 

[This space is intentionally
left blank]

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed as of the Effective Date above written.

 

	 	LICENSEE:

 

	 	GOLDEN NUGGET ONLINE GAMING, LLC

 

	 	By:	/s/ Paul Liberman

	 	 	Name:	Paul Liberman
	 	 	Title:	President and Chief Executive Officer

 

	 	LICENSOR:

 

	 	GNLV, LLC

 

	 	By:	 /s/ Steven L. Scheinthal

	 	 	Name:	Steven L. Scheinthal
	 	 	Title:	Senior Vice President and Secretary

 

	 	GN PARENT:

 

	 	FERTITTA ENTERTAINMENT, LLC

 

	 	By:	/s/ Steven L. Scheinthal

	 	 	Name:	Steven L. Scheinthal
	 	 	Title:	Vice President and Secretary

 

     

     

    

 

CERTAIN CONFIDENTIAL INFORMATION, IDENTIFIED
BY BRACKETED ASTERISKS “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

 

	ACKNOWLEDGED AND AGREED 

WITH RESPECT TO SECTION 4(A) HEREOF:	 

 

	FERTITTA ENTERTAINMENT, INC.	 

 

	By:	/s/ Steven L. Scheinthal	 

	  Name:	Steven L. Scheinthal	 
	  Title:	Vice President and Secretary	 

 

	ACKNOWLEDGED AND AGREED

WITH RESPECT TO SECTION 4(A) HEREOF:	 

 

	CROWN GAMING INC.	 

 

	By:	/s/ Paul Liberman	 

	  Name: Paul Liberman	 

	  Title: President and Chief Executive Officer

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