Document:

Exhibit
10.1

 

ASSIGNMENT
& ATTACHMENT AGREEMENT

 

This
Assignment and Attachment Agreement (the “Agreement”) is entered into as of March 3, 2022 between Strong Studios,
Inc. (“Strong”), on the one hand, and Landmark Studio Group LLC (“LSG”), on the other hand, with
respect to the following feature length motion picture and episodic television/digital projects, as follows:

 

WHEREAS,
LSG owns or controls certain rights in the television series project currently entitled “Safehaven” (“Safehaven”);

 

WHEREAS,
LSG owns or controls certain rights in the television series project currently entitled (“Flagrant”), Safehaven and
Flagrant are sometimes referred to hereunder as the “Projects”);

 

WHEREAS,
LSG wishes to sell, assign, transfer and convey its rights the Projects to Strong and Strong desires to attach LSG as an executive producer;

 

NOW
THEREFORE, for one dollar ($1) and other good and valuable consideration the sufficiency of which is hereby acknowledged by the parties,
the parties hereby agree as follows:

 

1.
CONDITION PRECEDENT. The rights and obligations of the parties hereunder are conditioned upon and subject to: (a) each
party’s full execution and delivery of this Agreement and all of the exhibits attached hereto (all of which are incorporated herein
by this reference), including, without limitation, the Short Form Assignment in the form attached hereto as Exhibits “B”
and “C” for each of the Projects, (b) Strong’s approval of the chain-of-title and copyright status of all materials
upon which each of the Projects are based (the chain of title upon full signature of this Agreement by both LSG and Strong shall be deemed
approved solely for purposes of this condition precedent and without waiving or limiting any of LSG’s representations or warranties);
and Strong entering into a distribution agreement for the Projects with Screen Media Ventures, LLC (“SMV”).

 

2.
ASSIGNMENT AND TRANSFER.

 

(a)
SG hereby irrevocable sells, assigns, transfers and conveys to Strong, its successors, licensees, and assigns, exclusively, in perpetuity
and throughout the universe, on a quitclaim basis (all of LSG’s right, title and interest of every kind and nature whatsoever,
to the extent LSG has such right, title and interest, in and to the Projects, including, without limitation, (i) the agreements listed
on Schedule I and all other instruments, if any, under which LSG acquired any right, title or interest in or to each of the Projects
(“Underlying Agreements”); (ii) all literary and dramatic material transferred by or created or written pursuant to
the Underlying Agreements (“Literary Materials”); and (iii) all of LSG’s other rights and interests of every
kind and nature in and to the Projects and elements thereof or related thereto, including all development materials, copyrights, trademarks,
titles, and including the right and any sequel, prequel, and/or remake of the Projects, or any derivative production thereto (including
without limitation any theatrical or direct-to-video sequel, remake or prequel, and/or any television movie, television series production(s),
stage production, or live television production based on the Projects) in any and all media now known or hereinafter devised and the
right to exploit any and all allied, ancillary, and subsidiary rights thereto (including without limitation, merchandising, theme parks,
video games, interactive rights, soundtrack, music publishing, and novelization) in connection with each of the Projects (“Other
Rights”), and all such rights are expressly and exclusively granted and sold to Strong. The Projects, including without limitation
all Literary Materials, Other Rights and development materials are assigned to Strong subject to the Underlying Agreements.

 

    	 

    	 

    

 

(b)
LSG shall deliver to Strong upon the execution of this Agreement, originals (to the extent it has originals) and/or electronic copies
of the Underlying Agreements, and copies of all of the Literary Materials and development materials for each of the Projects.

 

3. LSG
ATTACHMENT.

 

In
the event Strong develops a production of any of the Projects in any media (e.g., a television/subscription video on demand (SVOD)/advertising-based
video on demand (AVOD) production or series of television productions or limited series/mini-series, pilot, theatrical production, etc.)
LSG shall be attached as an executive producer upon the following terms and conditions:

 

(a)
Safehaven:

 

(i)
Executive Producer Fee & Development Fee: Twenty Thousand Dollars ($20,000) per episode for the first season of the series
produced (the “Safehaven EP Fee”), plus a one-time development fee of Two Hundred Thousand Dollars ($200,000) (the
“Safehaven Development Fee”). Notwithstanding anything to the contrary contained herein, if the Safehaven series is
actually produced, the minimum guaranteed executive producer fee and development fee shall be Four Hundred Thousand Dollars ($400,000),
on a pay or play basis. The Safehaven EP Fee shall be paid one hundred percent (100%) on the commencement of principal photography of
the first season of production. The Safehaven Development Fee shall be paid one hundred percent (100%) on commencement of principal photography.
For clarity, such executive producer/development fee is only for the first season of production of the initial Safehaven series, if any,
produced, and not for any further seasons of production produced or any other Safehaven productions or derivative productions.

 

(ii)
Services: No services required, except for securing the Distribution Agreement with SMV set forth in Paragraph 7 below, which
is deemed satisfied on full signature of such Distribution Agreement for Safehaven.

 

(b)
Flagrant:

 

(i)
Executive Producer Fee: Thirty Thousand Dollars ($30,000) per episode for the first season of the series produced (the “Flagrant
EP Fee”), plus a one- time development fee of Two Hundred Thousand Dollars ($200,000) (the “Flagrant Development Fee”).
Notwithstanding anything to the contrary contained herein, if the Flagrant series is actually produced, the minimum guaranteed executive
producer fee and development fee shall be Four Hundred and Forty Thousand Dollars ($440,000) and shall be payable one hundred percent
(100%) on the commencement of principal photography of the first season. For clarity, such executive producer/development fee is only
for the first season of production of the initial Flagrant series, if any, produced, and not for any further seasons of production cycles
produced or any other or Flagrant productions or derivative productions based thereon.

 

    	 

    	 

    

 

(ii)
Services: No services required, except for securing the Distribution Agreement with SMV set forth in Paragraph 7 below, which is deemed
satisfied on full signature of such Distribution Agreement for Flagrant.

 

(c)
Contingent Compensation: For each Project, and all sequels, prequels, spinoffs and derivatives thereof, LSG shall be paid an amount
equal to seven and one-half percent (7.5%) of the Net Proceeds (defined below), if any. “Net Proceeds” shall be defined,
computed and accounted for in accordance with Strong’s best definition of net proceeds with respect to such Project, as applicable,
subject to good faith negotiation in accordance with customary industry and Strong’s parameters in a most favored nations basis
against other net proceeds participants (excluding financiers). LSG shall have all customary rights as a net proceeds participant pursuant
to such definition, provided that LSG’s share of the Net Proceeds shall not be subject to any cross-collateralization with any
other Project or production (e.g. there shall be no cross-collateralization among the Projects).

 

(d)
All other terms of the above mentioned executive producer agreements for LSG for Flagrant and Safehaven shall be negotiated in good faith
in accordance with customary industry parameters for television/digital series of similar budgets, however, for clarity, there shall
be no other compensation (fixed or contingent) due to LSG pursuant to such executive producer agreements except as set forth above in
this Paragraph.

 

4.
WARRANTS. Upon the Consummation of the initial public offering (the “SGE IPO”) and the separation transaction
of Strong Global Entertainment, Inc. (“SGE”), SGE agrees to issue to LSG, no later than 10 days after the SGE IPO, and upon
LSG’s due execution of the warrant Agreement attached hereto as Exhibit D (the “Warrant Agreement”), including the
making of the representations of and agreements by LSG as set forth therein, a warrant to purchase an aggregate of 150,000 shares of
common stock of SGE exercisable at the per share offering price to the public in the SGE IPO, which shall be exercisable at any time
or from time to time six months from the date of the consummation of the SGE IPO and prior to the third anniversary of the date of issuance,
pursuant to the terms of the Warrant Agreement.

 

5.
DISTRIBUTION AGREEMENTS. Strong and SMV shall enter into distribution agreements (each, a “Distribution Agreement”)
for Safehaven and Flagrant as a condition precedent to this Agreement. The Distribution Agreement for each such LSG Distributed Assigned
Project is attached hereto as Exhibit A.

 

    	 

    	 

    

 

6.
REVERSION.

 

(a)
In the event that principal photography is not commenced within 1 year of execution, (the “Reversion Date”), with respect
to Safehaven and/or Flagrant, then all of Strong’s rights in such Project(s), as applicable, solely with respect to such Project(s)
which have not commenced principal photography (and for clarity not the other Project, if such other Project has commenced principal
photography) shall automatically revert to LSG, on a quitclaim basis, including, without limitation, the Underlying Rights, all Literary
Materials, and the Other Rights, with such reversion subject to LSG assuming all of Strong’s obligations (including assuming all
guild obligations and executing any required guild assumption agreements and including all of Strong’s obligations under the Distribution
Agreement with regard to such Project(s), as applicable) in connection with each such Project, as applicable and LSG shall indemnify,
defend and hold harmless Strong and any “Strong Indemnitees” (as defined in Paragraph 9 below) in connection with the foregoing
and in connection with any development, production, distribution, or exploitation of such Project(s) by LSG, or its assignees, designees,
or Licensees, pursuant to the terms of Paragraph 9 below. Strong and LSG shall each sign any documents reasonably required by the other
party to effectuate and evidence the reversion, including, without limitation, a Quitclaim Agreement/Indemnity Agreement (in a form reasonably
satisfactory to Strong, covering all obligations and liabilities (including any and all obligations on account of the reverted Project(s)
being subject to one or more collective bargaining agreements) and a Short Form Assignment and cause the same to be filed in the Copyright
Office. For clarity, if the rights to the Project(s) revert to LSG, in no event shall Strong have any further obligations to LSG under
Paragraph 3 above and the LG Attachment (e.g. with regard to the executive producing attachment, fees, backend, etc.) with respect to
the Project that reverts. If there is any claim, whether or not such claim shall result in or be followed by litigation, which would
constitute a breach of any of LSG’s warranties, representations or agreements, or any Force Majeure event, which materially delays
the development and/or production of either of the Project(s), then the Reversion Date shall be extended for a period equal to the time
such claim is outstanding or unresolved or the duration of such Force Majeure event, plus such additional time as Strong reasonably requires
to recommence its performance hereof, provided that if such extension is for an event of Force Majeure, then in no event shall such Force
Majeure extension exceed 12 months unless such Force Majeure event is a strike, lockout or other work stoppage in connection with a labor
dispute.

 

(b)
A “Force Majeure” event is the interruption of or material interference with the preparation, commencement, production, completion,
or distribution of the Project(s) or of a substantial number of television programs and/or motion pictures produced and/or distributed
or proposed to be produced and/or distributed by Strong by any cause or occurrence beyond the control of Strong or LSG as the case may
be, including fire, flood, epidemic, pandemic, earthquake, explosion, accident, riot, war (declared or undeclared), acts of terrorism
or mass crime (whether domestic or foreign, whether or not politically motivated, and whether or not directed at Strong or its property),
blockade, embargo, act of public enemy, civil disturbance, labor dispute, strike, lockout, inability to secure sufficient labor, power,
essential commodities, necessary equipment, adequate transportation or transmission facilities, or death, breach or disability of key
personnel rendering services on the Project(s), any applicable law, or any act of God.

 

7.
LSG’S REPRESENTATIONS AND WARRANTIES. LSG represents and warrants (which representations and warranties shall survive
the termination of this Agreement) that:

 

(a)
LSG has the full right and authority to enter into this Agreement.

 

(b)
To the best of its knowledge there are no adverse claims nor is there pending or threatened litigation, arbitration, mediation or other
adverse proceeding involving any of the Properties or any part or element thereof.

 

    	 

    	 

    

 

(c)
Except as expressly stated herein LSG does not make any representation or warranty, express or implied, at law or in equity, including,
without limitation, (i) with respect to merchantability or fitness for any particular purpose; (ii) with respect to any estimates, forecasts,
projections or predictions or the accuracy of or omissions from any information or materials relating to the Property or any of the Projects
that have been or hereafter are provided or made available to Strong, and all such other representations or warranties are expressly
disclaimed, and Strong acknowledges that Strong is not relying and have not relied on any such disclaimed representations or warranties
whatsoever.

 

8.
STRONG’S REPRESENTATIONS AND WARRANTIES. Strong represents and warrants (which representations and warranties shall
survive the termination of this Agreement) that:

 

(a)
It has the right to enter into this Agreement.

 

(b)
It will comply with all Underlying Agreements and all will fulfill all of its obligations hereunder.

 

9.
ASSUMPTION OF OBLIGATIONS. Strong hereby agrees to assume, carry out and faithfully perform each and all of the terms,
covenants, conditions and other provisions contained in the Underlying Agreements and as otherwise required with respect to the Projects,
including, without limitation, all payments, residuals, guild obligations, contingent compensation, and rights of first refusal from
the date of this Agreement. Strong shall sign and deliver to LSG any documents reasonably required by LSG to evidence the assumption
of such obligations, including, without limitation any required guild assumption agreements.

 

10.
INDEMNIFICATION.

 

(a)
LSG shall defend, indemnify and hold Strong and its parents, affiliates, subsidiaries, directors, officers, agents, employees, licensees,
successors, and assigns (collectively, “Strong Indemnitees”) harmless from and against any third party claims, charges,
damages, costs, expenses (including reasonable outside attorneys’ and accountant’s fees and disbursements), judgments, settlements,
penalties, liabilities or losses of any kind or nature whatsoever (collectively, “Expenses”) arising out of or resulting
from any breach of any of LSG’s warranties, representations or undertakings under any provision of this Agreement.

 

(b)
Strong shall indemnify and hold LSG and its parents, affiliates, subsidiaries, directors, officers, agents, employees, licensees, successors,
and assigns (collectively, “LSG Indemnitees”) harmless from and against any and all Expenses arising out of or resulting
from any breach by Strong of its assumption of obligations contained herein or by reason of or resulting from any breach of any of LSG’s
warranties, representations or undertakings under any provision of this Agreement; the development, production, distribution and/or other
exploitation of a production produced by Strong based upon any of the Projects and/or ancillary rights therein, except to the extent
such Expenses are subject to or covered by LSG’s indemnification obligations hereunder.

 

    	 

    	 

    

 

(c)
If either a LSG Indemnitee or a Strong Indemnitee is entitled to indemnification hereunder (an “Indemnitee”), the
Indemnitee will give the indemnifying party (“Indemnitor”) prompt written notice of the applicable claim (but any
delay in notification will not relieve Indemnitor of its indemnification obligations under this Agreement except to the extent that such
delay materially impairs Indemnitor’s ability to defend such claim). The Indemnitee will cooperate reasonably with Indemnitor and
provide all information and assistance as Indemnitor may reasonably require in connection with the defense and settlement of such claim.
Indemnitor will, at its own expense, control the defense and settlement of such claim, but Indemnitor may not, without the prior written
approval of Indemnitee, enter into or acquiesce to any settlement that contains any admission of or stipulation to any guilt, fault,
liability or wrongdoing on the part of any of the Indemnitee. In addition, the Indemnitee will have the right to participate, at their
own expense and with counsel of their own choosing, in the defense of any claim, in which case Indemnitee will cooperate reasonably with
the Indemnitor and provide all information and assistance as the Indemnitor may reasonably require in connection with the defense and
settlement of such claim.

 

11.
FURTHER INSTRUMENTS. Concurrently with execution of this Agreement LSG shall execute and deliver to Strong a Short Form
Assignment in the form of Exhibit “B” attached hereto for each of the Projects. The parties hereto agree to sign and/or
deliver to each other such further instruments as may reasonably be required to carry out or effectuate the purposes and intent of this
Agreement.

 

12.
SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective permitted successors and assigns. Neither SMV nor Strong may assign or transfer this Agreement, in whole or in part, without
the other party’s prior written consent, which consent shall not be unreasonably withheld. Notwithstanding the foregoing, either
party may assign this Agreement to any entity controlling, controlled by or under common control with such party; to a successor-in-interest
in the event of a corporate reorganization, merger, or sale of all or substantially all of such party’s equity securities, assets
or business related to the subject matter of this Agreement without the prior approval of the other party provided that such party shall
provide written notice of such assignment to the other party as soon as is reasonably practicable (e.g., without violating any contractual
confidentiality obligations); and provided, further, that any such assignee assumes all obligations of the assigning party in this Agreement
in full and in writing. Notwithstanding the foregoing, Strong may assign its rights and obligations hereunder without LSG’s consent
to either an entity created for the purpose of financing the Picture and/or a single purpose production entity, provided that Strong
remains primarily liable. Any purported assignment in violation of this Section shall be void ab initio and of no force or effect.

 

13.
NO INJUNCTIVE RELIEF BY SMV. SMV’s sole and exclusive remedy for Strong’s breach or cancellation of this Agreement,
or any term hereof, shall be limited to the right to recover damages, if any, in one or more arbitration proceedings under Paragraph
13 hereof, and SMV irrevocably waives any right to seek and/or obtain rescission and/or equitable and/or injunctive relief.

 

    	 

    	 

    

 

14.
NOTICES. All notices, payments and statements which either party is required, or may desire, to give to the other shall
be given by addressing the same to the other at the address set forth below or at such other addresses as may be designated in writing
by such party. All such notices shall be given by email during normal business hours (followed by a hard copy thereof by mail), personal
delivery, or by mailing (in a postpaid, certified or registered wrapper) to the appropriate parties at the addresses set forth below.
The effective date of said notices shall be the date of personal delivery or e-mailing thereof, or two (2) days after the postmark date
if mailed in the United States and five (5) days if mailed outside the United States.

 

	 	To
    Strong:	STRONG
    STUDIOS, INC.
	 	 	4201
    Congress Street, Suite 175
	 	 	Charlotte,
    NC 28209
	 	 	Attention:
    Mark Roberson, CEO, and David Ozer its President.
	 	 	Emails:

 

	 	To
    LSG:	Landmark
    Studio Group LLC
	 	 	P.O.
    Box 700
	 	 	Cos
    Cob, CT 06807
	 	 	Attention:
    Lou Occhicone, SVP Business Affairs & Distribution
	 	 	Email:
    locchicone@chickensoupforthesoul.com
	 	 	Telephone:
    203-861-4000

 

15. GOVERNING
LAW/DISPUTE RESOLUTION. All controversies, claims or disputes between the parties to this Agreement arising out of or
related to this Agreement or the interpretation, performance or breach thereof, including, but not limited to, alleged violations of
state or federal statutory or common law rights or duties, and the determination of the scope or applicability of this
agreement to arbitrate (“Dispute”), except as set forth in subparagraphs (b) and (c) of this paragraph, shall be
resolved according to subparagraph (a) hereof, which shall constitute the sole dispute resolution mechanism hereunder:

 

(a)
Arbitration: All Disputes shall be submitted to final and binding arbitration. The arbitration shall be initiated and conducted
according to either the JAMS Streamlined (for claims under USD$250,000) or the JAMS Comprehensive (for claims over USD$250,000) Arbitration
Rules and Procedures, except as modified herein, including the Optional Appeal Procedure, at the New York office of JAMS, or its successor
(“JAMS”) in effect at the time the request for arbitration is made (the “Arbitration Rules”). The
arbitration shall be conducted in New York, New York before a single neutral arbitrator appointed in accordance with the Arbitration
Rules. The arbitrator shall follow New York law and the Federal Rules of Evidence in adjudicating the Dispute. The parties waive the
right to seek punitive damages and the arbitrator shall have no authority to award such damages. The arbitrator will provide a
detailed written statement of decision, which will be part of the arbitration award and admissible in any judicial proceeding to confirm,
correct or vacate the award. Unless the parties agree otherwise, the neutral arbitrator and the members of any appeal panel shall be
former or retired judges or justices of any New York state or federal court with experience in matters involving the entertainment industry.
Judgment upon the award may be entered in any court of competent jurisdiction. The parties shall be responsible for payment of their
own attorneys’ fees in connection with any proceedings hereunder. In connection with any proceeding under this provision, the parties
agree to take reasonable efforts, consistent with all applicable laws, rules and regulations, to preserve the confidentiality of information,
documents, testimony and proceedings that relate to the arbitration and the Dispute.

 

    	 

    	 

    

 

(b)
Other Matters: Any Dispute or part thereof, or any claim for a particular form of relief (not otherwise precluded by any other
provision of this Agreement), that may not be arbitrated pursuant to applicable law may be heard only in a court of competent jurisdiction
in New York, New York.

 

(c)
Guild Arbitration: To the extent that an applicable guild agreement requires that a Dispute be resolved pursuant to such guild’s
arbitration provisions, or expressly permits either party to elect such resolution and such party elects such resolution, such Dispute
shall be resolved in accordance with the applicable guild’s arbitration provisions.

 

16.
ENTIRE AGREEMENT. This Agreement and any attachments hereto contain the entire understanding of the parties hereto and
replaces any and all former agreements, understandings and representations, and contains all of the terms, conditions, understandings
and promises of the parties hereto, relating in any way to the subject hereof. This Agreement may not be modified except by a document
signed by both parties.

 

17.
RELATIONSHIP. This Agreement shall not constitute a joint venture or a partnership of any kind between the parties hereto.

 

18.
DISCLOSURE. Each party agrees that the terms of this Agreement may be disclosed to any third party or publicly, without
the consent of the other party, but only if required by applicable laws or regulations or otherwise deemed advisable, as reasonably determined
by the party making the disclosure.

 

19.
COUNTERPARTS. This Agreement may be signed in two or more counterparts, each of which will be deemed original and
all of which together shall constitute one and the same agreement. Signatures delivered via facsimile or electronically via PDF, TIFF,
JPEG, or the like shall have the same legal weight and effect as original signatures.

 

20.
PUBLICITY/PRESS RELEASES. All publicity, paid advertisements, press notices, interviews and other information with respect
to the Projects shall be under Strong’s sole control and Strong shall have the sole right to submit such Projects (and episodes
thereof) for award nominations and consideration. Neither party may issue any publicity releases, public relations materials or advertisements
concerning this Agreement, without the other party’s prior written approval. The foregoing shall not be deemed to prohibit LSG
from issuing general publicity which incidentally mention the Projects, provided the LSG’s publicity is of a non-confidential nature.
Notwithstanding the foregoing, the parties shall mutually approve the initial press release with regard to this Agreement and any distribution
agreements with LSG.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

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

 

LANDMARK
STUDIOS GROUP, LLC

 

	By:
    	/s/
    William J. Rouhana Jr	 
	 	 	 
	Its:
    	Chairman	 

 

STRONG
STUDIOS, INC.

 

	By:
    	/s/
    Mark Roberson	 
	 	 	 
	Its:	CEO	 

 

BALLANTYNE
STRONG, INC., (the “Guarantor”) guarantees, absolutely and unconditionally, the full and timely payment of the Guaranteed
Payment by Strong under this Agreement. The Guarantor’s liability under this guaranty is direct and immediate and is not conditioned
upon the pursuit by LSG of any remedy it may have against Strong. This guaranty shall not be revocable at any time and is a continuing
guaranty binding on the Guarantor and its successor and assigns, may be enforced by the LSG and its successor and assigns and shall not
be discharged, affected, impaired or released by any insolvency, bankruptcy, reorganization, merger affiliation, liquidation, dissolution
or similar proceeding. Guarantor may not assign this guaranty or delegate its obligation hereunder, provided, that Guarantor may, with
LSG’s written consent, not to be unreasonably withheld, assign and delegate its obligations hereunder to Strong Global Entertainment
Inc. at such time as the stock of Strong Global Entertainment Inc is publicly traded on a major United States exchange (i.e., NYSE
or NASDAQ), provided, that Guarantor shall remain secondarily liable if gross proceeds from Strong Global Entertainment Inc.’s
initial public offering do not exceed Fifteen Million Dollars ($15,000,000).

 

CORPORATE
PARENT

 

	By:
    	/s/
    Mark Roberson	 
	 	 	 
	Its:	CEOExhibit
10.2

 

PURCHASE
AGREEMENT

 

This
Purchase Agreement (the “Agreement”) is entered into as of March 3, 2022 between STRONG STUDIOS, INC. (“Purchaser”),
on the one hand, and Landmark Studio Group, LLC (“Seller”), on the other hand, with respect to the following feature
length motion picture and episodic television/digital projects, as follows:

 

The
Purchased Projects (The “Purchased Projects”):

 

	 	●	Heartbeat
	 	●	History
    of Gangster Rap
	 	●	The
    Shadows in the Vineyard
	 	●	Nights
    of the Living Dead
	 	●	Midnightmares
	 	●	Sports
    Confidential

 

The
Seller Attached Projects: (The “Seller Attached Projects”):

 

	 	●	It’s
    Not A Show
	 	●	The
    Fix
	 	●	Dysfunctional
    Pizza

 

The
Retained Projects (The “Seller Retained Projects”):

 

	 	●	Inside
    the Black Box (Season Two)

 

Each
of the foregoing projects being herein referred to as a “Project” and collectively referred to as the “Projects”.
Seller and Buyer are sometimes referred to herein as a “Party” or collectively as the “Parties”.

 

1.
CONDITION PRECEDENT. The rights and obligations of the parties hereunder are conditioned upon and subject to: (a) each
party’s full execution and delivery of this Agreement and all of the exhibits attached hereto (all of which are incorporated herein
by this reference), including, without limitation, the Short Form Assignment in the form attached hereto as Exhibits “A through
I” for each of the Projects, and (b) Purchaser’s approval of the chain-of-title and copyright status of all materials upon
which each of the Projects are based (the chain of title upon full signature of this Agreement by both Seller and Purchaser shall be
deemed approved solely for purposes of this condition precedent and without waiving or limiting any of Seller’s representations
or warranties).

 

2.
PURCHASED PROJECTS AND SELLER ATTACHED PROJECTS. Seller hereby irrevocable sells, assigns, transfers and conveys to Purchaser,
its successors, licensees, and assigns, exclusively, in perpetuity and throughout the universe, on a quitclaim basis (all of Seller’s
right, title and interest of every kind and nature whatsoever, to the extent Seller has such right, title and interest, in and to: (a)(i)
each of the Purchased Projects and (ii) each of the Seller Attached Projects, subject to Paragraph 4 below; (b) all of the agreements
listed on Schedule I and all other instruments, if any, under which Seller acquired any right, title or interest in or to each
of the Purchased Projects and the Seller Attached Projects (“Underlying Agreements”); (c) all literary and dramatic
material transferred by or created or written pursuant to the Underlying Agreements in connection with each of the Purchased Projects
and the Seller Attached Projects (“Literary Materials”); and (d) all of Seller’s other rights and interests
of every kind and nature in and to each of the Purchased Projects and the Seller Attached Projects and elements thereof or related thereto,
including all development materials, copyrights, trademarks, titles, and including the right and any sequel, prequel, and/or remake of
the Projects, or any derivative production thereto (including without limitation any theatrical or direct-to-video sequel, remake or
prequel, and/or any television movie, television series production(s), stage production, or live television production based on the Projects)
in any and all media now known or hereinafter devised and the right to exploit any and all allied, ancillary, and subsidiary rights thereto
(including without limitation, merchandising, theme parks, video games, interactive rights, soundtrack, music publishing, and novelization)
in connection with each of the Projects (“Other Rights”), and all such rights are expressly and exclusively granted
and sold to Purchaser.

 

    	 

     

    

 

The
items set forth in this Paragraph 2 and the Purchased Projects and the Seller Attached Projects are hereinafter referred to individually
for each Project as the “Property” and collectively for all the Purchased Projects and Seller Attached Project as
the “Properties.” Seller shall deliver to Purchaser upon the execution of this Agreement, originals (to the extent
it has originals) and/or electronic copies of the Underlying Agreements, and copies of all of the Literary Materials and development
materials for each of the Properties. All Properties, Literary Materials, Other Rights and development materials are sold subject to
the Underlying Agreements.

 

3.
PURCHASER ATTACHMENT / THE SELLER RETAINED PROJECTS.

 

In
the event Seller develops a production in any media (e.g., a television/subscription video on demand (SVOD)/advertising-based video on
demand (AVOD) production or series of television productions or limited series/mini-series, theatrical production, etc.) of the Seller
Retained Projects (collectively referred to herein as “Subsequent Production(s)”), Purchaser shall be granted a first
opportunity and the Purchaser Right of First Negotiation (defined below) to executive produce and produce such Subsequent Production(s)
and to be engaged as the production services entity and producer of such Subsequent Productions(s) (the “Purchaser Subsequent
Production Attachment”) on terms to be negotiated in good faith with Seller in accordance with the budget for such Subsequent
Production and other customary industry parameters for similar productions.

 

The
term “Purchaser Right of First Negotiation” means that if, Seller desires to develop and/or produce any Subsequent
Production, then Seller shall by written notice notify Purchaser of such desire and immediately thereafter negotiate in good faith exclusively
with Purchaser with respect to the Purchaser Subsequent Production Attachment (on terms to be negotiated in good faith in accordance
with customary industry standards for comparable projects), and if, after the expiration of 30 days following such notice from Seller
( to Purchaser, no agreement has been reached, or if Purchaser elects not to render said services, Purchaser shall have no further rights,
and Seller shall have no further obligations to Purchaser pertaining to such Subsequent Production pursuant to this Agreement. The Purchaser
Right of First Negotiation shall be a rolling right provided, that Purchaser has been engaged as the production company of record on
immediately preceding Subsequent Production of the Seller Retained Project.

 

    	 

     

    

 

4.
SELLER ATTACHMENT / THE SELLER ATTACHED PROJECTS.

 

(a)
Seller Right of First Negotiation for AVOD/FAST Rights: In the event Purchaser develops, finances, and/or produces any Seller
Attached Projects, Purchased Projects and/or any derivative project thereto (e.g., spinoff, remake, sequel, prequel, television
series, etc.) (each, a “Seller Attached Projects Production”), then solely to the extent Purchaser does not enter
into an “all rights” sale or license of the worldwide distribution rights to such Seller Attached Products Production solely
with Netflix, AmazonPrime, Hulu, , HBO+, or Disney+), Seller shall have the Seller Right of First Negotiation (defined below) to acquire
the “AVOD” and “FAST” (as such are defined below) window and rights to reproduce, display, transmit, distribute,
promote and otherwise exploit each Seller Attached Projects Production through advertiser supported video on demand (“AVOD”)
and streaming via free advertiser supported television (“FAST”). Such AVOD/FAST distribution agreements (“AVOD/FAST
Distribution Agreement”) shall provide, without limitation, that Purchaser shall be granted an exclusive AVOD/FAST window (which
window for clarity shall include premiere rights or a premiere window) and that Seller shall pay Purchaser fifty percent (50%) of one
hundred percent (100%) of the “Net Revenues” as defined below for such exploitations. “Gross Receipts”
means all gross monies or other consideration received by or credited to or for the benefit of the distribution entity, currently Screen
Media Ventures, LLC (“Screen Media”) and/or its in connection with the exploitation of each Seller Attached Projects
Production, including without limitation from the sale of advertising inventory. “Net Revenues” shall mean all Gross
Receipts less only all direct actual, out of pocket expenses actually paid in connection with the exploitation of such Seller Attached
Projects Production, including, without limitation, hosting fees, platforms fees, ad serving fees, promotional and advertising expenses,
and sales commission, to the extent customarily treated as distribution expenses under customary accounting procedures in the entertainment
industry. In the event Purchaser enters into an “all rights” license as described above, upon the expiration of the term
of such license the Seller Right of First Negotiation shall apply, unless Seller enters into an extension of the then-current license.

 

Each
Seller Attached Projects Production shall be accounted for separately from any other Seller Attached Projects Production, and there shall
be no cross collateralization between the Seller Attached Projects Productions. All other terms of the AVOD/FAST Distribution Agreement
shall be negotiated in good faith in accordance with customary industry standards. For the avoidance of doubt, there will not be any
minimum guarantees or advances payable in connection with the aforementioned AVOD/FAST rights.

 

(i)
The term “Seller Right of First Negotiation” means that if, Purchaser desires to sell/license or otherwise exploit
a Seller Attached Projects Production, then Purchaser shall by written notice notify Seller of such desire and immediately thereafter
negotiate in good faith exclusively with Seller with respect to the licensing rights to the Seller Attached Projects Production as set
forth above, and if, after the expiration of sixty (60) days following such notice from Purchaser to Seller, no agreement has been reached,
or if Seller elects not to license such rights, Seller shall have no further rights, and Purchaser shall have no further obligations
to Seller, pertaining to such Seller Attached Projects Production pursuant to this Agreement, except as set forth in Paragraph 4(b) below.

 

    	 

     

    

 

(b)
Net Proceeds Participation: In the event Purchaser produces a Seller Attached Projects Production, Seller shall be entitled to
a Net Proceeds Participation on such Seller Attached Projects Production as set forth in Paragraph 5(c) below.

 

5.
CONSIDERATION. As consideration for the rights granted herein to Purchaser, Purchaser shall pay to Seller the following:

 

(a)
Guaranteed Payment to Seller: As consideration for all of the rights granted, sold and assigned to Purchaser herein, Purchase
shall pay to Seller the following sums: The flat sum of One Million Six Hundred and Seventy Thousand Dollars ($1,670,000), due and payable
by Purchaser as stated below (the “Guaranteed Payment”). For clarity, Purchaser shall have the right, in its sole
discretion, to prepay any or all of the foregoing payments.

 

(b)
Payment Schedule for the Guaranteed Payment.

 

(i)
Three Hundred Twenty Five Thousand Dollars ($325,000) upon execution of this Agreement (the “First Payment”);

 

(ii)
Three Hundred Twenty Five Thousand Dollars ($325,000) on or before December 31, 2022;

 

(iii)
Five Hundred Thousand Dollars ($500,000) to be paid on or before July 1, 2023; and

 

(iv)
Five Hundred and Twenty Thousand Dollars ($520,000) to be paid on or before December 31, 2023.

 

(v)
Notwithstanding anything to the contrary contained herein, in the event any Seller Attached Project Production is produced prior to the
time the Guaranteed Amount is paid in full, then Purchaser shall pay Seller the greater of fifty thousand dollars ($50,000) and Thirty
Seven and One Half percent (37.5%) of the producer fee, production company fee, executive producer fee or similar fee that is paid to
Seller in connection therewith, and such amount shall be applied toward the Guaranteed Amount.

 

For
clarity, the Guaranteed Payments set forth above for each Project includes consideration for, and satisfaction of, any and all of Seller’s
“sunk costs” (e.g., any costs or expenses incurred by Seller in connection with any of the Purchased Projects and Seller
Attached Projects, the Properties, and/or the Other Rights).

 

(c)
Contingent Compensation: For each Seller Attached Projects Production, Seller shall be paid an amount equal to TEN PERCENT (10%)
of the Net Proceeds (defined below).

 

(d)
“Net Proceeds” shall be defined, computed and accounted for in accordance with the Purchaser’s best definition
of net proceeds with respect to such Assigned Project and Seller Attached Project, as applicable, subject to good faith negotiation in
accordance with customary industry and the Purchaser’s parameters in a most favored nations basis against other net proceeds participants
(excluding financiers). Seller shall have all customary rights as a net proceeds participant pursuant to such definition, provided that
Seller’s share of the Net Proceeds shall not be subject to any cross-collateralization with any other Project or production (e.g.
there shall be no cross-collateralization among the Projects).

 

    	 

     

    

 

6.
SELLER’S REPRESENTATIONS AND WARRANTIES. Seller represents and warrants (which representations and warranties shall
survive the termination of this Agreement) that:

 

(a)
Seller has the full right and authority to enter into this Agreement.

 

(b)
To the best of its knowledge there are no adverse claims nor is there pending or threatened litigation, arbitration, mediation or other
adverse proceeding involving any of the Properties or any part or element thereof.

 

(c)
Except as expressly stated herein Seller does not make any representation or warranty, express or implied, at law or in equity, including,
without limitation, (i) with respect to merchantability or fitness for any particular purpose; (ii) with respect to any estimates, forecasts,
projections or predictions or the accuracy of or omissions from any information or materials relating to the Property or any of the Projects
that have been or hereafter are provided or made available to Purchaser, and all such other representations or warranties are expressly
disclaimed, and Purchaser acknowledges that Purchaser is not relying and have not relied on any such disclaimed representations or warranties
whatsoever. \

 

7.
BUYERS REPRESENTATIONS AND WARRANTIES. Buyer represents and warrants (which representations and warranties shall survive
the termination of this Agreement) that:

 

(a)
It has the right to enter into this Agreement;

 

(b)
It will comply with all Underlying Agreements and all will fulfill all of its obligations hereunder

 

8.
ASSUMPTION OF OBLIGATIONS. Purchaser hereby agrees to assume, carry out and faithfully perform each and all of the terms,
covenants, conditions and other provisions contained in the Underlying Agreements and as otherwise required with respect to the Projects,
including, without limitation, all payments, residuals, guild obligations, contingent compensation, and rights of first refusal from
the date of this Agreement. Purchaser shall sign and deliver to Seller any documents reasonably required by Seller to evidence the assumption
of such obligations, including, without limitation any required guild assumption agreements.

 

9.
INDEMNIFICATION.

 

(a)
Seller shall defend, indemnify and hold Purchaser and its parents, affiliates, subsidiaries, directors, officers, agents, employees,
licensees, successors, and assigns (collectively, “Purchaser Indemnitees”) harmless from and against any third party
claims, charges, damages, costs, expenses (including reasonable outside attorneys’ and accountant’s fees and disbursements),
judgments, settlements, penalties, liabilities or losses of any kind or nature whatsoever (collectively, “Expenses”)
arising out of or resulting from any breach of any of Seller’s warranties, representations or undertakings under any provision
of this Agreement.

 

    	 

     

    

 

(b)
Purchaser shall indemnify and hold Seller and its parents, affiliates, subsidiaries, directors, officers, agents, employees, licensees,
successors, and assigns (collectively, “Seller Indemnitees”) harmless from and against any and all Expenses arising
out of or resulting from any breach by Purchaser of its assumption of obligations contained herein or by reason of or resulting from
any breach of any of Seller’s warranties, representations or undertakings under any provision of this Agreement; the development,
production, distribution and/or other exploitation of a production produced by Purchaser based upon any of the Projects and/or ancillary
rights therein, except to the extent such Expenses are subject to or covered by Seller’s indemnification obligations hereunder.

 

(c)
If either a Seller Indemnitee or a Purchaser Indemnitee is entitled to indemnification hereunder (an “Indemnitee”),
the Indemnitee will give the indemnifying party (“Indemnitor”) prompt written notice of the applicable claim (but
any delay in notification will not relieve Indemnitor of its indemnification obligations under this Agreement except to the extent that
such delay materially impairs Indemnitor’s ability to defend such claim). The Indemnitee will cooperate reasonably with Indemnitor
and provide all information and assistance as Indemnitor may reasonably require in connection with the defense and settlement of such
claim. Indemnitor will, at its own expense, control the defense and settlement of such claim, but Indemnitor may not, without the prior
written approval of Indemnitee, enter into or acquiesce to any settlement that contains any admission of or stipulation to any guilt,
fault, liability or wrongdoing on the part of any of the Indemnitee. In addition, the Indemnitee will have the right to participate,
at their own expense and with counsel of their own choosing, in the defense of any claim, in which case Indemnitee will cooperate reasonably
with the Indemnitor and provide all information and assistance as the Indemnitor may reasonably require in connection with the defense
and settlement of such claim.

 

10.
FURTHER INSTRUMENTS. Concurrently with execution of this Agreement Seller shall execute and deliver to Purchaser a Short
Form Assignment in the form of Exhibit “A” attached hereto for each of the Properties. The parties hereto agree to
sign and/or deliver to each other such further instruments as may reasonably be required to carry out or effectuate the purposes and
intent of this Agreement.

 

11.
SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective permitted successors and assigns. Neither Seller nor Purchaser may assign or transfer this Agreement, in whole or in part,
without the other party’s prior written consent, which consent shall not be unreasonably withheld.

 

Notwithstanding
the foregoing, Seller may assign this Agreement to any entity controlling, controlled by or under common control with Seller; to a successor-in-interest
in the event of a corporate reorganization, merger, or sale of all or substantially all of Sellers, equity securities, assets or business
related to the subject matter of this Agreement without the prior approval of Purchaser provided that Seller shall provide written notice
of such assignment to the Purchaser as soon as is reasonably practicable (e.g., without violating any contractual confidentiality obligations);
and provided, further, that any such assignee assumes all obligations of Seller in this Agreement in full and in writing. Notwithstanding
the foregoing, Purchaser may assign its rights and obligations hereunder without Seller’s consent to either an entity created for
the purpose of financing the Picture and/or a single purpose production entity, provided that Purchaser remains primarily liable. Any
purported assignment in violation of this Section shall be void ab initio and of no force or effect.

 

    	 

     

    

 

11.
NO INJUNCTIVE RELIEF BY SELLER. Seller’s sole and exclusive remedy for Purchaser’s breach or cancellation of
this Agreement, or any term hereof, shall be limited to the right to recover damages, if any, in one or more arbitration proceedings
under Paragraph 13 hereof, and Seller irrevocably waives any right to seek and/or obtain rescission and/or equitable and/or injunctive
relief.

 

12.
NOTICES. All notices, payments and statements which either party is required, or may desire, to give to the other shall
be given by addressing the same to the other at the address set forth below or at such other addresses as may be designated in writing
by such party. All such notices shall be given by email during normal business hours (followed by a hard copy thereof by mail), personal
delivery, or by mailing (in a postpaid, certified or registered wrapper) to the appropriate parties at the addresses set forth below.
The effective date of said notices shall be the date of personal delivery or e-mailing thereof, or two (2) days after the postmark date
if mailed in the United States and five (5) days if mailed outside the United States.

 

	 	To
    Purchaser:	STRONG
    STUDIOS, INC.
	 	 	4201
    Congress Street, Suite 175
	 	 	Charlotte,
    NC 28209
	 	 	Attention:
    Mark Roberson, CEO, and David Ozer its President.
	 	 	 
	 	To
    Seller:	Landmark
    Studio Group, LLC
	 	 	P.O.
    Box 700
	 	 	Cos
    Cob, CT 06807
	 	 	Attention:
    Lou Occhicone, SVP Business Affairs & Distribution
	 	 	Email:
    locchicone@chickensoupforthesoul.com
	 	 	Telephone:
    203-861-4000

 

13.
GOVERNING LAW/DISPUTE RESOLUTION. All controversies, claims or disputes between the parties to this Agreement arising out
of or related to this Agreement or the interpretation, performance or breach thereof, including, but not limited to, alleged violations
of state or federal statutory or common law rights or duties, and the determination of the scope or applicability of this agreement
to arbitrate (“Dispute”), except as set forth in Paragraphs 13(b), and 13(c) below, shall be resolved according to
the procedures set forth in Paragraph 13(a) which shall constitute the sole dispute resolution mechanism hereunder:

 

(a)
Arbitration: All Disputes shall be submitted to final and binding arbitration. The arbitration shall be initiated and conducted
according to either the JAMS Streamlined (for claims under USD$250,000) or the JAMS Comprehensive (for claims over USD$250,000) Arbitration
Rules and Procedures, except as modified herein, including the Optional Appeal Procedure, at the New York office of JAMS, or its successor
(“JAMS”) in effect at the time the request for arbitration is made (the “Arbitration Rules”). The
arbitration shall be conducted in New York, New York before a single neutral arbitrator appointed in accordance with the Arbitration
Rules. The arbitrator shall follow New York law and the Federal Rules of Evidence in adjudicating the Dispute. The parties waive the
right to seek punitive damages and the arbitrator shall have no authority to award such damages. The arbitrator will provide a
detailed written statement of decision, which will be part of the arbitration award and admissible in any judicial proceeding to confirm,
correct or vacate the award. Unless the parties agree otherwise, the neutral arbitrator and the members of any appeal panel shall be
former or retired judges or justices of any New York state or federal court with experience in matters involving the entertainment industry.
Judgment upon the award may be entered in any court of competent jurisdiction. The parties shall be responsible for payment of their
own attorneys’ fees in connection with any proceedings under this Paragraph 13(a). In connection with any proceeding under this
provision, the parties agree to take reasonable efforts, consistent with all applicable laws, rules and regulations, to preserve the
confidentiality of information, documents, testimony and proceedings that relate to the arbitration and the Dispute.

 

    	 

     

    

 

(b)
Other Matters: Any Dispute or part thereof, or any claim for a particular form of relief (not otherwise precluded by any other
provision of this Agreement), that may not be arbitrated pursuant to applicable law may be heard only in a court of competent jurisdiction
in New York, New York.

 

(c)
Guild Arbitration: To the extent that an applicable guild agreement requires that a Dispute be resolved pursuant to such guild’s
arbitration provisions, or expressly permits either party to elect such resolution and such party elects such resolution, such Dispute
shall be resolved in accordance with the applicable guild’s arbitration provisions.

 

14.
ENTIRE AGREEMENT. This Agreement and any attachments hereto contain the entire understanding of the parties hereto and
replaces any and all former agreements, understandings and representations, and contains all of the terms, conditions, understandings
and promises of the parties hereto, relating in any way to the subject hereof. This Agreement may not be modified except by a document
signed by both parties. Seller shall sign Exhibit “A” (Short Form Assignment) for each Project which may be immediately filed
by Purchaser with the U.S. Copyright Office.

 

15.
RELATIONSHIP. This Agreement shall not constitute a joint venture or a partnership of any kind between the parties hereto.

 

16.
DISCLOSURE. Each party agrees that the terms of this Agreement may be disclosed to 8any third party or publicly, without
the consent of the other party, but only if required by applicable laws or regulations. Further, Seller agrees and consents that certain
or all of the terms of this Agreement, including the Agreement itself, may be disclosed or filed, as determined by Purchaser in its sole
discretion, to the extent it is either advisable, or if otherwise required by applicable law or regulation.

 

17.
COUNTERPARTS. This Agreement may be signed in two or more counterparts, each of which will be deemed original and
all of which together shall constitute one and the same agreement. Signatures delivered via facsimile or electronically via PDF, TIFF,
JPEG, or the like shall have the same legal weight and effect as original signatures.

 

18.
PUBLICITY/PRESS RELEASES. All publicity, paid advertisements, press notices, interviews and other information with respect
to the Projects (except for the Seller Retained Projects) shall be under Purchaser’s sole control and Purchaser shall have the
sole right to submit such Projects (and episodes thereof) for award nominations and consideration. Neither party may issue any publicity
releases, public relations materials or advertisements concerning this Agreement, without the other party’s prior written approval.
The foregoing shall not be deemed to prohibit Seller from issuing general publicity which incidentally mention the Projects, provided
the Seller’s publicity is of a non-confidential nature. Notwithstanding the foregoing, the parties shall mutually approve the initial
press release with regard to this Agreement and any distribution agreements with Seller.

 

[Signature
Page Follows]

 

    	 

     

    

 

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

 

	SELLER	 
	 	 
	LANDMARK
    STUDIOS GROUP, LLC	 
	 	 	 
	By:
    	/s/
    William J. Rouhana Jr	 
	 	 	 
	Its:
    	Chairman	 
	 	 	 
	ACCEPTED
    BY AND AGREED TO:	 
	 	 
	STRONG
    STUDIOS, INC.	 
	 	 	 
	By:
    	/s/
    Mark Roberson	 
	 	 	 
	Its:	CEO	 

 

BALLYNTYNE
SRONG, INC., (the “Guarantor”) guarantees, absolutely and unconditionally, the full and timely payment of the Guaranteed
Payment by Purchaser under this Agreement. The Guarantor’s liability under this guaranty is direct and immediate and is not conditioned
upon the pursuit by Seller of any remedy it may have against Purchaser. This guaranty shall not be revocable at any time and is a continuing
guaranty binding on the Guarantor and its successor and assigns, may be enforced by the Seller and its successor and assigns and shall
not be discharged, affected, impaired or released by any insolvency, bankruptcy, reorganization, merger affiliation, liquidation, dissolution
or similar proceeding. Guarantor may not assign this guaranty or delegate its obligation hereunder, provided, that Guarantor may, with
Seller’s written consent, not to be unreasonably withheld, assign and delegate its obligations hereunder to Strong Global Entertainment
Inc. at such time as the stock of Strong Global Entertainment Inc. is publicly traded on a major United States exchange (i.e., NYSE
or NASDAQ), provided, that Guarantor shall remain secondarily liable if gross proceeds from Strong Global Entertainment Inc.’s
initial public offering do not exceed Fifteen Million Dollars ($15,000,000).

 

CORPORATE
PARENT

	 	 	 
	By:
    	/s/
    Mark Roberson	 
	 	 	 
	Its:	CEO

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