Document:

Next, Inc. 2002 Stock Option Plan

EXHIBIT 10.1 
 
NEXT, INC. 
 
2002 STOCK OPTION PLAN 
 
1.    Purpose of the Plan. 
 
This 2002 Stock Option Plan (the “Plan”) is intended as an incentive, to retain in the
employ of and as directors, consultants and advisors to Next, Inc., a Delaware corporation (the “Company”) and any Subsidiary of the Company, within the meaning of Section 424(f) of the United States Internal Revenue Code of 1986,
as amended (the “Code”), persons of training, experience and ability, to attract new employees, directors, consultants and advisors whose services are considered valuable, to encourage the sense of proprietorship and to stimulate
the active interest of such persons in the development and financial success of the Company and its Subsidiaries. 
 
It is further intended that certain options granted pursuant to the Plan shall constitute incentive stock options within the meaning of
Section 422 of the Code (the “Incentive Options”) while certain other options granted pursuant to the Plan shall be nonqualified stock options (the “Nonqualified Options”). Incentive Options and Nonqualified Options
are hereinafter referred to collectively as “Options.” 
 
The Company intends that the Plan meet the requirements of Rule 16b-3 (“Rule 16b-3”) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and that
transactions of the type specified in subparagraphs (c) to (f) inclusive of Rule 16b-3 by officers and directors of the Company pursuant to the Plan will be exempt from the operation of Section 16(b) of the Exchange Act. Further, the Plan is
intended to satisfy the performance-based compensation exception to the limitation on the Company’s tax deductions imposed by Section 162(m) of the Code with respect to those Options for which qualification for such exception is intended. In
all cases, the terms, provisions, conditions and limitations of the Plan shall be construed and interpreted consistent with the Company’s intent as stated in this Section 1. 
 
2.    Administration of the Plan. 
 
The Board of Directors of the Company (the
“Board”) shall appoint and maintain as administrator of the Plan a Committee (the “Committee”) consisting of two or more directors who are “Non-Employee Directors” (as such term is defined in Rule 16b-3)
and “Outside Directors” (as such term is defined in Section 162(m) of the Code), which shall serve at the pleasure of the Board. The Committee, subject to Sections 3 and 5 hereof, shall have full power and authority to designate recipients
of Options, to determine the terms and conditions of respective Option agreements (which need not be identical) and to interpret the provisions and supervise the administration of the Plan. The Committee shall have the authority, without limitation,
to designate which Options granted under the Plan shall be Incentive Options and which shall be Nonqualified Options. To the extent any Option does not qualify as an Incentive Option, it shall constitute a separate Nonqualified Option. 

 
Subject to the
provisions of the Plan, the Committee shall interpret the Plan and all Options granted under the Plan, shall make such rules as it deems necessary for the proper administration of the Plan, shall make all other determinations necessary or advisable
for the administration of the Plan and shall correct any defects or supply any omission or reconcile any inconsistency in the Plan or in any Options granted under the Plan in the manner and to the extent that the Committee deems desirable to carry
into effect the Plan or any Options. The act or determination of a majority of the Committee shall be the act or determination of the Committee and any decision reduced to writing and signed by all of the members of the Committee shall be fully
effective as if it had been made by a majority at a meeting duly held. Subject to the provisions of the Plan, any action taken or determination made by the Committee pursuant to this and the other Sections of the Plan shall be conclusive on all
parties. 
 
In the event that for any reason the
Committee is unable to act or if the Committee at the time of any grant, award or other acquisition under the Plan of Options or Stock (as hereinafter defined) does not consist of two or more Non-Employee Directors, or if there shall be no such
Committee, then the Plan shall be administered by the Board, and references herein to the Committee (except in the proviso to this sentence) shall be deemed to be references to the Board, and any such grant, award or other acquisition may be
approved or ratified in any other manner contemplated by subparagraph (d) of Rule 16b-3; provided, however, that options granted to the Company’s Chief Executive Officer or to any of the Company’s other four most highly compensated
officers that are intended to qualify as performance-based compensation under Section 162(m) of the Code may only be granted by the Committee. 
 
3.    Designation of Optionees. 
 
The persons eligible for participation in the Plan as recipients of Options (the
“Optionees”) shall include employees, officers and directors of, and consultants and advisors to, the Company or any Subsidiary; provided that Incentive Options may only be granted to employees of the Company and the Subsidiaries.
In selecting Optionees, and in determining the number of shares to be covered by each Option granted to Optionees, the Committee may consider any factors it deems relevant, including without limitation, the office or position held by the Optionee or
the Optionee’s relationship to the Company, the Optionee’s degree of responsibility for and contribution to the growth and success of the Company or any Subsidiary, the Optionee’s length of service, age, promotions and potential. An
Optionee who has been granted an Option hereunder may be granted an additional Option or Options, if the Committee shall so determine. 
 
4.    Stock Reserved for the Plan. 
 
Subject to adjustment as provided in Section 7 hereof, a total of 1,000,000 shares of the Company’s
Common Stock, $0.001 par value per share (the “Stock”), shall be subject to the Plan. The maximum number of shares of Stock that may be subject to options granted under the Plan to any individual in any calendar year shall not
exceed 100,000, and the method of counting such shares shall conform to any requirements applicable to performance-based compensation under Section 162(m) of the Code. The shares of Stock subject to the Plan shall consist of unissued shares,
treasury shares or previously issued shares held by any Subsidiary of the Company, and such amount of shares of Stock shall be and is hereby reserved for such 
 

2 

purpose. Any of such shares of Stock that may remain unsold and that are not subject to outstanding
Options at the termination of the Plan shall cease to be reserved for the purposes of the Plan, but until termination of the Plan the Company shall at all times reserve a sufficient number of shares of Stock to meet the requirements of the Plan.
Should any Option expire or be canceled prior to its exercise in full or should the number of shares of Stock to be delivered upon the exercise in full of an Option be reduced for any reason, the shares of Stock theretofore subject to such Option
may be subject to future Options under the Plan, except where such reissuance is inconsistent with the provisions of Section 162(m) of the Code. 
 
5.    Terms and Conditions of Options. 
 
Options granted under the Plan shall be subject to the following conditions and shall contain such additional
terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable: 
 
(a)    Option Price.    The purchase price of each share of Stock
purchasable under an Incentive Option shall be determined by the Committee at the time of grant, but shall not be less than 100% of the Fair Market Value (as defined below) of such share of Stock on the date the Option is granted; provided, however,
that with respect to an Optionee who, at the time such Incentive Option is granted, owns (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or of any Subsidiary,
the purchase price per share of Stock shall be at least 110% of the Fair Market Value per share of Stock on the date of grant. The purchase price of each share of Stock purchasable under a Nonqualified Option shall not be less than 80% of the Fair
Market Value of such share of Stock on the date the Option is granted; provided, however, that if an option granted to the Company’s Chief Executive Officer or to any of the Company’s other four most highly compensated officers is intended
to qualify as performance-based compensation under Section 162(m) of the Code, the exercise price of such Option shall not be less than 100% of the Fair Market Value (as such term is defined below) of such share of Stock on the date the Option is
granted. The exercise price for each Option shall be subject to adjustment as provided in Section 7 below. “Fair Market Value” means the closing price of publicly traded shares of Stock on the principal securities exchange on which
shares of Stock are listed (if the shares of Stock are so listed), or on the NASDAQ Stock Market (if the shares of Stock are regularly quoted on the NASDAQ Stock Market), or, if not so listed or regularly quoted, the mean between the closing bid and
asked prices of publicly traded shares of Stock in the over-the-counter market, or, if such bid and asked prices shall not be available, as reported by any nationally recognized quotation service selected by the Company, or as determined by the
Committee in a manner consistent with the provisions of the Code. Anything in this Section 5(a) to the contrary notwithstanding, in no event shall the purchase price of a share of Stock be less than the minimum price permitted under the rules and
policies of any national securities exchange on which the shares of Stock are listed. 
 
(b)    Option Term.    The term of each Option shall be fixed by the
Committee, but no Option shall be exercisable more than ten years after the date such Option is granted and in the case of an Incentive Option granted to an Optionee who, at the time such Incentive Option is granted, owns (within the meaning of
Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or of any Subsidiary, no such 
 

3 

Incentive Option shall be exercisable more than five years after the date such Incentive Option is
granted. 
 
(c)    Exercisability.    Subject to Section 5(j) hereof, Options shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the
Committee at the time of grant. 
 
Upon the
occurrence of a Change in Control (as hereinafter defined), the Committee may accelerate the vesting and exercisability of outstanding Options, in whole or in part, as determined by the Committee in its sole discretion. In its sole discretion, the
Committee may also determine that, upon the occurrence of a Change in Control, each outstanding Option shall terminate within a specified number of days after notice to the Optionee thereunder, and each such Optionee shall receive, with respect to
each share of Company Stock subject to such Option, an amount equal to the excess of the Fair Market Value of such shares immediately prior to such Change in Control over the exercise price per share of such Option; such amount shall be payable in
cash, in one or more kinds of property (including the property, if any, payable in the transaction) or a combination thereof, as the Committee shall determine in its sole discretion. 
 
For purposes of the Plan, a Change in Control shall be deemed to have occurred if: 
 
(i)    a tender offer (or
series of related offers) shall be made and consummated for the ownership of 50% or more of the outstanding voting securities of the Company, unless as a result of such tender offer more than 50% of the outstanding voting securities of the surviving
or resulting corporation shall be owned in the aggregate by the shareholders of the Company (as of the time immediately prior to the commencement of such offer), any employee benefit plan of the Company or its Subsidiaries, and their affiliates;

 
(ii)    the
Company shall be merged or consolidated with another corporation, unless as a result of such merger or consolidation more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the
shareholders of the Company (as of the time immediately prior to such transaction), any employee benefit plan of the Company or its Subsidiaries, and their affiliates; 
 
(iii)    the Company shall sell substantially all of its assets to
another corporation that is not wholly owned by the Company, unless as a result of such sale more than 50% of such assets shall be owned in the aggregate by the shareholders of the Company (as of the time immediately prior to such transaction), any
employee benefit plan of the Company or its Subsidiaries and their affiliates; or 
 
(iv)    a Person (as defined below) shall acquire 50% or more of the outstanding voting securities of
the Company (whether directly, indirectly, beneficially or of record), unless as a result of such acquisition more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the
shareholders of the Company (as of the time immediately prior to the first acquisition of such securities by such Person), any employee benefit plan of the Company or its Subsidiaries, and their affiliates. 
 

4 

For purposes of this Section 5(c), ownership of voting securities shall take into account
and shall include ownership as determined by applying the provisions of Rule 13d-3(d)(I)(i) (as in effect on the date hereof) under the Exchange Act. In addition, for such purposes, “Person” shall have the meaning given in Section
3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof; however, a Person shall not include (A) the Company or any of its Subsidiaries; (B) a trustee or other fiduciary holding securities under an employee benefit plan
of the Company or any of its Subsidiaries; (C) an underwriter temporarily holding securities pursuant to an offering of such securities; or (D) a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same
proportion as their ownership of stock of the Company. 
 
(d)    Method of Exercise.    Options to the extent then exercisable may be exercised in whole or in part at any time during the option period, by giving written notice to the
Company specifying the number of shares of Stock to be purchased, accompanied by payment in full of the purchase price, in cash, or by check or such other instrument as may be acceptable to the Committee. As determined by the Committee, in its sole
discretion, at or after grant, payment in full or in part may be made at the election of the Optionee (i) in the form of Stock owned by the Optionee (based on the Fair Market Value of the Stock on the trading day before the Option is exercised)
which is not the subject of any pledge or security interest, (ii) in the form of shares of Stock withheld by the Company from the shares of Stock otherwise to be received with such withheld shares of Stock having a Fair Market Value on the date of
exercise equal to the exercise price of the Option, or (iii) by a combination of the foregoing, provided that the combined value of all cash and cash equivalents and the Fair Market Value of any shares surrendered to the Company is at least equal to
such exercise price and except with respect to (ii) above, such method of payment will not cause a disqualifying disposition of all or a portion of the Stock received upon exercise of an Incentive Option. An Optionee shall have the right to
dividends and other rights of a stockholder with respect to shares of Stock purchased upon exercise of an Option at such time as the Optionee has given written notice of exercise, paid in full for such shares and has satisfied such conditions that
may be imposed by the Company with respect to the withholding of taxes. 
 
(e)    Non-transferability of Options.     Options are not transferable and may be exercised solely by the Optionee during his lifetime or after his death
by the person or persons entitled thereto under his will or the laws of descent and distribution. The Committee, in its sole discretion, may permit a transfer of a Nonqualified Option to (i) a trust for the benefit of the Optionee or (ii) a member
of the Optionee’s immediate family (or a trust for his or her benefit). Any attempt to transfer, assign, pledge or otherwise dispose of, or to subject to execution, attachment or similar process, any Option contrary to the provisions hereof
shall be void and ineffective and shall give no right to the purported transferee. 
 
(f)    Termination by Death.     Unless otherwise determined by the
Committee at grant, if any Optionee’s employment with or service to the Company or any Subsidiary terminates by reason of death, the Option may thereafter be exercised, to the extent then exercisable (or on such accelerated basis as the
Committee shall determine at or after grant), by the legal representative of the estate or by the legatee of the Optionee under the will of the 
 

5 

Optionee, for a period of one year after the date of such death or until the expiration of the stated term
of such Option as provided under the Plan, whichever period is shorter. 
 
(g)    Termination by Reason of Disability.     Unless otherwise determined by the Committee at grant, if any Optionee’s employment with or service
to the Company or any Subsidiary terminates by reason of total and permanent disability, any Option held by such Optionee may thereafter be exercised, to the extent it was exercisable at the time of termination due to disability (or on such
accelerated basis as the Committee shall determine at or after grant), but may not be exercised after 30 days after the date of such termination of employment or service or the expiration of the stated term of such Option, whichever period is
shorter; provided, however, that, if the Optionee dies within such 30-day period, any unexercised Option held by such Optionee shall thereafter be exercisable to the extent to which it was exercisable at the time of death for a period of one year
after the date of such death or for the stated term of such Option, whichever period is shorter. 
 
(h)    Termination by Reason of Retirement.    Unless otherwise determined
by the Committee at grant, if any Optionee’s employment with or service to the Company or any Subsidiary terminates by reason of Normal or Early Retirement (as such terms are defined below), any Option held by such Optionee may thereafter be
exercised to the extent it was exercisable at the time of such Retirement (or on such accelerated basis as the Committee shall determine at or after grant), but may not be exercised after 30 days after the date of such termination of employment or
service or the expiration of the stated term of such Option, whichever period is shorter; provided, however, that, if the Optionee dies within such 30-day period, any unexercised Option held by such Optionee shall thereafter be exercisable, to the
extent to which it was exercisable at the time of death, for a period of one year after the date of such death or for the stated term of such Option, whichever period is shorter. 
 
For purposes of this paragraph (h) “Normal Retirement” shall mean retirement from active
employment with the Company or any Subsidiary on or after the normal retirement date specified in the applicable Company or Subsidiary pension plan or if no such pension plan, age 65, and “Early Retirement” shall mean retirement
from active employment with the Company or any Subsidiary pursuant to the early retirement provisions of the applicable Company or Subsidiary pension plan or if no such pension plan, age 55. 
 
(i)    Other
Termination.     Unless otherwise determined by the Committee at grant, if any Optionee’s employment with or service to the Company or any Subsidiary terminates for any reason other than death, disability or Normal or
Early Retirement, the Option shall thereupon terminate, except that the portion of any Option that was exercisable on the date of such termination of employment or service may be exercised for the lesser of 30 days after the date of termination or
the balance of such Option’s term if the Optionee’s employment or service with the Company or any Subsidiary is terminated by the Company or such Subsidiary without cause (the determination as to whether termination was for cause to be
made by the Committee). The transfer of an Optionee from the employ of or service to the Company to the employ of or service to a Subsidiary, or vice versa, or from one Subsidiary to another, shall not be deemed to constitute a termination of
employment or service for purposes of the Plan. 
 

6 

 
(j)    Limit on Value of Incentive Option.    The aggregate Fair Market Value, determined as of the date the Incentive Option is granted, of Stock for which Incentive Options are
exercisable for the first time by any Optionee during any calendar year under the Plan (and/or any other stock option plans of the Company or any Subsidiary) shall not exceed $100,000. 
 
(k)    Incentive Option Shares.    A grant of
an Incentive Option under this Plan shall provide that (a) the Optionee shall be required as a condition of the exercise to furnish to the Company any payroll (employment) tax required to be withheld, and (b) if the Optionee makes a disposition,
within the meaning of Section 424(c) of the Code and regulations promulgated thereunder, of any share or shares of Stock issued to him upon exercise of an Incentive Option granted under the Plan within the two-year period commencing on the day after
the date of the grant of such Incentive Option or within a one-year period commencing on the day after the date of transfer of the share or shares to him pursuant to the exercise of such Incentive Option, he shall, within 10 days after such
disposition, notify the Company thereof and immediately deliver to the Company any amount of United States federal, state and local income tax withholding required by law. 
 
6.    Term of Plan. 
 
No Option shall be granted pursuant to the Plan on or after May     , 2012, but Options
theretofore granted may extend beyond that date. 
 
7.    Capital Change of the Company. 
 
In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, or other change in corporate structure affecting the Stock, the Committee shall make an appropriate and
equitable adjustment in the number and kind of shares reserved for issuance under the Plan and in the number and option price of shares subject to outstanding Options granted under the Plan, to the end that after such event each Optionee’s
proportionate interest shall be maintained as immediately before the occurrence of such event. The Committee shall, to the extent feasible, make such other adjustments as may be required under the tax laws so that any Incentive Options previously
granted shall not be deemed modified within the meaning of Section 424(h) of the Code. 
 
8.    Purchase for Investment. 
 
Unless the Options and shares covered by the Plan have been registered under the Securities Act of 1933, as amended (the
“Securities Act”), or the Company has determined that such registration is unnecessary, each person exercising an Option under the Plan may be required by the Company to give a representation in writing that he is acquiring the
shares for his own account for investment and not with a view to, or for sale in connection with, the distribution of any part thereof. 
 

7 

 
9.    Taxes. 
 
The Company may make such provisions as it may deem appropriate, consistent with applicable law, in connection with any Options granted under the Plan with respect to the withholding of any taxes (including income or employment
taxes) or any other tax matters. 
 
10.    Effective Date of Plan. 
 
The Plan shall be effective on May     , 2002, provided however that the Plan shall subsequently be approved by majority vote of the Company’s stockholders not later than May
    , 2002. 
 
11.    Amendment and Termination. 
 
The Board may amend, suspend, or terminate the Plan, except that no amendment shall be made that would impair the rights of any Optionee under any Option theretofore granted without the Optionee’s
consent, and except that no amendment shall be made which, without the approval of the stockholders of the Company would: 
 
(a)    materially increase the number of shares that may be issued under the Plan, except as is
provided in Section 7; 
 
(b)
materially increase the benefits accruing to the Optionees under the Plan; 
 
(c) materially modify the requirements as to eligibility for participation in the Plan; 
 
(d) decrease the exercise price of an Incentive Option to less than 100% of the Fair Market Value per share of Stock on
the date of grant thereof or the exercise price of a Nonqualified Option to less than 80% of the Fair Market Value per share of Stock on the date of grant thereof; or 
 
(e) extend the term of any Option beyond that provided for in Section 5(b). 
 
The Committee may amend the terms of any Option theretofore
granted, prospectively or retroactively, but no such amendment shall impair the rights of any Optionee without the Optionee’s consent. The Committee may also substitute new Options for previously granted Options, including options granted under
other plans applicable to the participant and previously granted Options having higher option prices, upon such terms as the Committee may deem appropriate. 
 
12.    Government Regulations. 
 
The Plan, and the grant and exercise of Options hereunder, and the obligation of the Company to sell and
deliver shares under such Options, shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies, national securities exchanges and interdealer quotation systems as may be required. 
 

8 

13.    General Provisions. 
 
(a)    Certificates.    All certificates for shares of Stock delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, or other securities commission having jurisdiction, any applicable Federal or state securities law, any stock exchange or interdealer quotation
system upon which the Stock is then listed or traded and the Committee may cause a legend or legends to be placed on any such certificates to make appropriate reference to such restrictions. 
 
(b)    Employment
Matters.    The adoption of the Plan shall not confer upon any Optionee of the Company or any Subsidiary any right to continued employment or, in the case of an Optionee who is a director, continued service as a director,
with the Company or a Subsidiary, as the case may be, nor shall it interfere in any way with the right of the Company or any Subsidiary to terminate the employment of any of its employees, the service of any of its directors or the retention of any
of its consultants or advisors at any time. 
 
(c)    Limitation of Liability.    No member of the Board or the Committee, or any officer or employee of the Company acting on behalf of the Board or the Committee, shall be personally
liable for any action, determination or interpretation taken or made in good faith with respect to the Plan, and all members of the Board or the Committee and each and any officer or employee of the Company acting on their behalf shall, to the
extent permitted by law, be fully indemnified and protected by the Company in respect of any such action, determination or interpretation. 
 
(d)    Registration of Stock.    Notwithstanding any other provision in the
Plan, no Option may be exercised unless and until the Stock to be issued upon the exercise thereof has been registered under the Securities Act and applicable state securities laws, or are, in the opinion of counsel to the Company, exempt from such
registration in the United States. The Company shall not be under any obligation to register under applicable federal or state securities laws any Stock to be issued upon the exercise of an Option granted hereunder in order to permit the exercise of
an Option and the issuance and sale of the Stock subject to such Option, although the Company may in its sole discretion register such Stock at such time as the Company shall determine. If the Company chooses to comply with such an exemption from
registration, the Stock issued under the Plan may, at the direction of the Committee, bear an appropriate restrictive legend restricting the transfer or pledge of the Stock represented thereby, and the Committee may also give appropriate stop
transfer instructions with respect to such Stock to the Company’s transfer agent. 
 
NEXT, INC. 
 
May 1, 2002 
 

9employment Agreement Dated March 1,2002

 
EXHIBIT
10.2 
 
 
 
 
EMPLOYMENT AGREEMENT

 
BETWEEN 
 
SPORTING MAGIC, INC. 
 
AND 
 
SEAN GARBER 
 
 
March 1, 2002 
 
 
 
 
 
 
 

 
EMPLOYMENT AGREEMENT 
 
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of the 1st day of March, 2002 by and between (i) SPORTING MAGIC, INC., a Delaware corporation with its principal place of business
located at 6430 Cobble Lane, Harrison, Tennessee 37341 (the “Company”) and (ii)SEAN GARBER (Social Security Number             ), an individual having his
principal place of business at 3600 Chamberlain Lane, Suite 826, Louisville, Kentucky 40241 (the “Executive”). 
 
AGREEMENT: 
 
NOW, THEREFORE, in consideration of the recitals and mutual promises contained herein, the parties agree as follows: 
 
ARTICLE 1 
 
Employment, Term and Duties 
 
1.1    Employment. 
 
The Company hereby employs Executive, and Executive accepts
employment by the Company, and agrees to serve the Company upon the terms and conditions hereinafter set forth. 
 
1.2    Term. 
 
The Term (as hereinafter defined) of Executive’s employment shall commence as of the date of this Agreement (the “Commencement Date”) and shall end five years thereafter
unless Executive’s employment terminates prior thereto as provided in Article 3 (the “Initial Term”) (each twelve month period corresponding to the anniversary of the Commencement Date shall constitute a “Year”
during the Term). Executive’s employment pursuant to this Agreement shall be automatically renewed for consecutive additional periods of twelve months each (collectively, the “Renewal Terms”) upon the expiration of the Initial
Term and for each one year Renewal Term thereafter (the Initial Term plus all Renewal Term(s) are collectively referred to as the “Term”), unless at least 90 days prior to the expiration of the Initial Term or any Renewal Term, the
Company or Executive gives written notice to the other that the Term will end at the expiration of such period. At the end of the Term, the provisions of Articles 1, 2 and 3 shall no longer be applicable; however, the other provisions of this
Agreement shall remain in full force and effect. 
 
1.3    Duties; Standard of Services. 
 
During the Term, Executive shall be employed by the Company as its “Executive Vice President“ and shall provide such services as are consistent with those generally provided by senior
executive officers in charge of sales, including, but not limited to, supervision of the sales 
 
 
 

1 

 
force, the development of a
sales program and administrative supervision and oversight, all subject to the review and directions of, and reporting to, the Company’s Chief Executive Officer. In addition, the Company shall use its best efforts to nominate Executive to the
Board of Directors (the “Board”). A letter stating such nomination and support of nomination, from Danny F. Cooke and William B. Hensley, shall be provided to the Board so as to enable Executive to serve on the Board for a period of
three years, commencing as soon as practicable following the date hereof. Executive shall (a) perform Executive’s duties hereunder effectively, diligently and to the best of Executive’s skill and ability; (b) use
Executive’s reasonable best efforts, skill and ability to promote the interests of the Company; and (c) perform all duties that may be required of Executive by virtue of Executive’s position as a member of the executive management
team of the Company, and (d) shall be employed by the Company on a full-time basis with attention and efforts to the business and affairs of the Company. 
 
ARTICLE 2 
 
Compensation, Benefits and Stock Grant 
 
2.1    Compensation and Benefits. 
 
For the services to be rendered by Executive hereunder, the Company shall, during the Term, pay compensation and provide benefits to
Executive as follows: 
 
(a)    Salary. 
 
Executive’s Salary (“Salary”) shall be as follows: a minimum guarantee of $140,000 during Year One of the Initial Term; a minimum guarantee of $150,000 during Year Two of the Initial Term; a minimum guarantee of
$160,000 during Year Three of the Initial Term; a minimum guarantee of $180,000 during Year Four of the Initial Term; and a minimum guarantee of $200,000 during Year Five of the Initial Term, in each case to be paid in a manner and at a time
consistent with the other key executives of the Company, less any withholdings of tax or other amounts required by law with respect to Executive’s Salary, Bonus Opportunity, or other forms of compensation and/or benefits. Executive’s
Salary and Bonus Opportunity for any Renewal Term(s) shall be mutually negotiated between Executive and the Company. 
 
(b)    Site of Employment; Possible Relocation. 
 
Executive’s primary site of business shall remain in
Louisville, Kentucky. The Company shall hire such additional personnel, and will otherwise provide suitable funds and resources, as the Company deems reasonably necessary, in order to assist Executive in the performance of Executive’s duties
from Louisville, Kentucky. In the event that the Company, by mutual agreement by Executive, requires Executive to operate out of a site which is greater than 50 miles from Louisville, Kentucky, the Company shall reimburse Executive for: (i) actual
reasonable moving expenses for the move of Executive and his household from the Louisville, Kentucky area to such new location, (ii) up to 6 months of actual reasonable living expenses for temporary housing (or such shorter time until Executive has
purchased a house or entered into a 
 
 
 
 

2 

 
lease for an apartment or
house with a term of at least one year), and (iii) real estate sales commission on the sale of his residence in Louisville, Kentucky. 
 
(c)    Participation in Benefits Plans. 
 
During the Term, Executive shall be eligible to participate in
all of the Company’s benefit plans or programs that have been established for executive officers of the Company at the same level as Executive, to the extent that Executive meets the requirements for each individual plan. A Bonus Opportunity
for the Executive shall be established within 30 days of the execution of this Agreement. The Bonus Opportunity shall be based on Performance Management Objectives as established by the Company’s senior management and Board. The Executive shall
be eligible to receive a minimum of 40% of his applicable base salary as his Bonus Opportunity. Such Bonus Opportunity will be waived for a period of two years when the growth incentive plan, as set forth in 2.1(e), is implemented by the Company.
Notwithstanding the above, the Executive shall be eligible for any discretionary bonus as determined by the Company’s Compensation Committee and/or Board of Directors. The Company provides no assurances as to the adoption or continuance of any
particular benefit plan or program, and Executive’s participation in any such plan or program shall be subject to the terms, provisions, rules and regulations applicable thereto. 
 
(d)    Other Rights. 
 
During the Employment Term, Executive shall: 
 
(1)    be entitled to four weeks’
paid time off in each calendar year and paid sick leave consistent with other senior executives of the Company. The Executive shall also be entitled to all paid holidays given by the Company to its senior executive employees; 
 
(2)    be eligible for consideration by
the Board of Directors of the Company for awards of stock options under any stock option plan that may be established by the Company for its key employees, the amount, if any, of shares with respect to which options may be granted to Executive to be
in the sole discretion of the Board of Directors of the Company; and 
 
(3)    be entitled to reimbursement for all reasonable and necessary out-of-pocket business expenses incurred by the Executive in the performance of his duties hereunder in accordance with the policies of
the Company. 
 
Nothing paid to the Executive under any employee
benefit plan or similar arrangement shall be deemed to be in lieu of Salary, bonus compensation or growth incentive opportunity compensation which is, or may be payable to Executive, pursuant to the terms of this Agreement. 
 
(e)    Incentive
Compensation. 
 
During the Term, Executive
shall be eligible to participate in all of the Company’s incentive compensation plans and arrangements. For the first two years of this Agreement, the 
 
 
 
 

3 

 
Executive shall be eligible
for a growth incentive plan. Specifics for the growth incentive plan have yet to be established but shall be established within 30 days of the execution of this Agreement. Notwithstanding the above, the growth incentive plan applicable to Executive
shall be based on and limited to the Company’s sales to include: Blue Sky Graphics/Next, CMJ Ventures, and either (i) American Licensed Products (“ALP”), if acquired by the Company, or (ii) if ALP is not acquired by the Company
within three months from the date hereof, a different entity later acquired by the Company with net revenues for the year ended December 31, 2001 that are within 10% of ALP’s net revenues for the same period. Further, the Executive will earn an
incentive of Company common stock and/or options to acquire Company common stock and/or cash at the rate of three percent for all the Company’s incremental sales in excess of prior year sales. The structure of the growth incentive plan payout
shall be up to 25% cash with the remainder to be in the form of Company common stock and/or options to acquire Company common stock. In the first year, the baseline for prior year sales, for all companies identified above, shall be March 15, 2002;
the second year baseline for the companies’ prior year sales shall be March 15, 2003. 
 
(f)    Automobile Expense. 
 
The Company shall pay to Executive on a monthly basis an automobile allowance in the amount of $1,000.
Executive shall insure, at his expense, his automobile and provide proof thereof if requested. 
 
(g)    Indemnification; Errors and Omissions Insurance Coverage as a Director. 
 
Absent gross negligence or willful conduct, the Company shall,
to the fullest extent under applicable law, indemnify and hold Executive harmless (including, but not limited to, reasonable attorney’s fees) from and against all claims that may be threatened and/or asserted against Executive arising from
Executive’s functions as an officer and/or executive of the Company or in any other capacity as directed by the Company. In addition, to the fullest extent reasonably possible, Executive shall be covered as an executive officer and/or Director
under the terms and conditions of the Company’s errors and omissions insurance policy, as the same may be in effect from time to time, consistent with coverage for the other executive officers and/or Directors of the Company. 
 
ARTICLE 3 
 
Termination of Employment 
 
3.1    Termination of Executive’s Employment.

 
The Term shall earlier terminate, and
Executive’s employment with the Company shall terminate, upon the first to occur of the following events: 
 

4 

 
(a)    Death. 
 
The death of Executive. 
 
(b)    Disability. 
 
Executive is under a “disability” which, for purposes of this Agreement, shall mean a physical or mental condition which, at such time, either (i) renders Executive incapable of performing Executive’s duties as
provided by Section 1.3 hereof in a manner reasonably satisfactory to the Company, and which continues for a period of more than 180 days (whether or not consecutive) during any 360-day period; (ii) results in Executive being eligible for long-term
disability benefits under any long-term disability program provided by the Company or any disability income insurance policy under which Executive is an insured; or (iii) results in Executive being eligible for long-term disability benefits under
the Social Security Act. 
 
(c)    For Cause. 
 
The Company reasonably determines that Executive shall be discharged for “Cause,” which for purposes of this Agreement shall include the following: 
 
(1)    Embezzlement, defalcation or other fraudulent or dishonest acts by
Executive; 
 
(2)    Conviction of Executive for a crime involving moral turpitude; 
 
(3)    A material breach of any term, provision, representation or warranty of Executive under this
Agreement; or 
 
(4)    Any material continued misconduct by Executive in the performance of Executive’s duties as defined in Section 1.3 hereunder, or any material continued neglect or failure to act by Executive in the
satisfactory performance of Executive’s duties hereunder. Notwithstanding the foregoing, if any material breach, misconduct, neglect or failure to act as described in Subsections 3.1(c)(3) or 3.1(c)(4) above is reasonably capable of remedy, a
written notice and an opportunity to cure such material breach, misconduct, neglect or failure to act shall be afforded Executive and, in such event, Cause shall exist for Executive’s discharge only if (i) Executive shall fail to cure such
material breach, misconduct, neglect or failure to act within thirty days after notice or (ii) if such material breach, misconduct, neglect or failure to act is timely cured, Executive shall thereafter repeat such material breach, misconduct,
neglect or failure to act or any substantially similar material breach, misconduct, neglect or failure to act shall occur. 
 
 
 
 
 

5 

 
(d)    Resignation by Executive. 
 
Executive shall provide the Company with at least 30 days prior written notice of his resignation (such 30 day period to be referred to hereinafter as the “Notice Period”).

 
3.2    Termination of Employment During
the Term. 
 
(a)    Termination During Term For Cause or by Voluntary Resignation. 
 
If, prior to the expiration of the Term, Executive’s employment is terminated for Cause or by voluntary resignation, Executive shall
only be entitled to receive Executive’s Salary up to the time of such termination. 
 
(b)    Termination for Death or Disability. 
 
If, prior to the expiration of the Term, Executive’s
employment is terminated due to death as provided in Section 3.1(a) hereof or disability as provided for in Section 3.1(b) hereof, Executive shall be entitled to receive (i) any accrued and unpaid benefits as of the date of death or disability, (ii)
any accrued and unpaid Salary as of the date of death or disability and (iii) continued payment of Executive’s Salary for a period of six months thereafter. 
 
(c)    Termination During Term Other Than For Cause, Death or
Disability. 
 
If Executive’s employment
with the Company is terminated prior to the expiration of the Term as a result of a termination without Cause, Executive (or Executive’s estate or personal representative, as applicable) shall be entitled to receive: 
 
(1)    any accrued and
unpaid benefits as of the date of termination; 
 
(2)    any accrued and unpaid Salary as of the date of termination; 
 
(3)    A severance amount equal to the greater of (i) two years of Executive’s then applicable
Salary or (ii) any amount of Executive’s Salary remaining during the Term of this Agreement (“Severance Amount”). 
 
(d)    Payment of Severance Amount. 
 
Upon the termination of Executive’s employment by the
Company without Cause, 25% of any Severance Amount due Executive shall be paid to Executive prior to or on the thirtieth (30th) day following Executive’s termination. Executive shall receive the remaining 75% of the Severance Amount in monthly payments over the greater of (i) the remainder of the Term (as if executive was still employed by the Company)
or two (2) years (in equal monthly installments). These monthly payments shall serve as consideration for the non-competition 
 
 
 
 

6 

 
obligations binding upon
Executive during the Restricted Period, as set forth below in Section 4.1(c). 
 
(e)    Limitation of Payments Upon Termination. 
 
Except as otherwise provided in Sections 3.2(b) and 3.2(c) hereof, the Company shall have absolutely no obligation to make any payments
to, or have any other obligations or liability to, Executive or to Executive’s estate, personal representative, heirs or beneficiaries upon expiration of the Term or upon the sooner termination of the Term pursuant to Section 3.1 hereof.

 
(f)    Right of Set-Off Upon Termination. 
 
Upon expiration of the Term, termination of Executive’s employment prior to the expiration of the Term pursuant to any provisions of Section 3.1 hereof, or discovery of a Termination Event (that
has occurred prior to termination of the Notice Period) by the Company after Executive’s voluntary resignation or termination without Cause, the Company shall have the right to set-off any amounts due to the Company by Executive against such
amounts as may be owed to Executive by the Company. 
 
(g)    Options and Warrants. 
 
In the event of Executive’s termination by death, disability, without Cause or voluntary resignation, Executive shall be entitled to all options and warrants then vested; provided, however, that
such options and/or warrants shall expire on the 90th day following Executive’s termination. 
 
ARTICLE 4 
 
Confidentiality, Non-Solicitation and Non-Competition
Provisions; Fiduciary Duties 
 
4.1    Covenants of Executive. 
 
As a material condition of Executive’s employment by the Company, Executive agrees to the following restrictions, limitations and provisions: 
 
(a)    Confidentiality. 
 
From and after the date hereof, neither Executive nor any
Affiliate (as defined in Section 5.1) of Executive (“Executive Affiliate”) shall communicate, divulge or use for the benefit of Executive, any Executive Affiliate or any other person, partnership, corporation, limited liability
company or other entity, other than the Company or an Affiliate of the Company (“Company Affiliate”), any business secrets, blueprints or engineering data, manuals of instructions, reports, business plans, business strategies,
budgets, financial and accounting information, systems coding and passwords, personnel information, account information records, 
 
 
 
 

7 

 
product plans, software, or
any other confidential or proprietary information or trade secrets of the Company, or any client of the Company, or of any Company Affiliates, of any type or description, whether written or not (“Confidential Information”);
provided, however, that the provisions of this Section 4.1(a) shall not apply to any Confidential Information which is in the public domain for a reason other than the negligence, omission or willful misconduct of Executive or an Executive
Affiliate, or disclosures which are required by law or by a court of competent jurisdiction. Furthermore, Executive and all Executive Affiliates shall fully comply with the provisions of all confidentiality and restrictive covenant agreements
entered into by the Company or any Company Affiliates in the course of their business dealings with any sellers of businesses, brokers, investment bankers, actuarial or other consultants, financial institutions or third party providers of services
or goods to the Company or any Company Affiliates. Upon termination of Executive’s employment with the Company, Executive shall deliver to the Company all manuals, reports, business plans, product plans, blueprints or engineering data, records,
data, software and other documents and information in Executive’s possession which constitute or contain Confidential Information, including all copies and reproductions of any such Confidential Information whether stored in written form,
photographic form, by means of any electronic, magnetic, laser or other computer or data processing media, or otherwise. 
 
(b)    Non-Solicitation of Employees. 
 
During Executive’s term of employment and for either (i)
one year from the date of Executive’s termination for Cause or voluntary resignation or (ii) that period of time in which the Company is obligated to make monthly payments to Executive under Section 3.2(d) hereof (the “Restricted
Period”), neither Executive nor any Executive Affiliate shall entice or induce, directly or indirectly, any other employees of the Company or any Company Affiliate to leave the employ of the Company or any Company Affiliate to work with
Executive, any Executive Affiliate, or with any person, partnership, limited liability company, corporation or other entity with whom Executive or any Executive Affiliate is or becomes affiliated, or hire any such person. 
 
(c)    Non-Compete
Restrictions. 
 
During the Restricted Period,
neither Executive nor any Executive Affiliate, shall (i) within a 100 mile radius of each of Wabash, Indiana, Louisville, Kentucky, Chattanooga, Tennessee or within 100 miles of any other location in which the Company sells products or renders
services or proposes to sell products or render services, own, manage, operate, join, control or participate, directly or indirectly, in the ownership, management, operation or control of, or be connected as an officer, director, consultant,
employee, member or partner of, or otherwise permit Executive’s or and Executive Affiliate’s name or goodwill to be used in connection with, or, in any event, engage in any business activity otherwise directly or indirectly competitive
with the Business (as hereinafter defined) of the Company or any Company Affiliate conducted at any time during the Term or (ii) interfere with the Company’s or any Company Affiliate’s business relationships with any of its
customers to any extent. For purposes of this Agreement, the “Business” of the Company is defined as the 

 

8 

design, development, marketing and distribution of branded promotional products and imprinted sportswear (collectively, the “Products
and Services”). 
 
4.2    Reasonableness of Scope and Duration. 
 
The parties hereto agree that the confidentiality, non-solicitation and non-competition covenants and agreements contained in Section 4.1 are, taken separately and as a whole, reasonable in their scope
and duration, and no party shall raise any issue of the reasonableness of the scope or duration of any such covenants in any proceeding to enforce any such covenants. The provisions of this Article 4 shall survive the termination of Executive’s
employment with the Company. 
 
4.3    Cumulative Remedies. 
 
Executive agrees that, in addition to all other rights and remedies which may be available to the Company because of any breach by Executive of any of the provisions of Section 4.1 hereof, the Company may not be adequately
compensated by damages, and Executive agrees that the Company shall be entitled, in addition to all other remedies, to injunctive relief and specific performance of this Agreement. 
 
4.4    Conflicts of Interest; Fiduciary Obligations; Disparagement. 
 
Neither Executive nor any Executive Affiliates shall engage in
any activity which is (or has the potential to be) in conflict with the interests of the Company or any Company Affiliates, or which is inconsistent with the highest fiduciary standards and duties. In this regard, but not by way of limitation,
Executive and all Executive Affiliates (i) shall not engage in any paid or unpaid work activities which have not been approved in advance by the Board; (ii) shall not benefit personally from dealings of the Company or Company
Affiliates with others (through the acceptance of gifts of more than nominal value, loans under any terms or conditions, entertainment beyond customary trade practices, or otherwise); (iii) shall present to the Company, and permit the Company
to take, separately or with others and, if deemed advisable to the Company, to the exclusion of Executive, any particular business opportunity of a character which could be taken by the Company; and (iv) shall not misrepresent
Executive’s credentials or any Products and Services of the Company or any Company Affiliates. Furthermore, at no time during or after the Term shall Executive or any Executive Affiliate utter, issue or circulate any false, inappropriate or
disparaging statements, remarks or rumors about the Company, its Directors, other executives, customers, or any of their Affiliates, or about any actual or potential competitors of any of such parties. Similarly, at no time during or after the Term
shall the Company, its Directors, other executives or representatives utter, issue or circulate any false, inappropriate or disparaging statements, remarks or rumors about Executive or any Executive Affiliate. 
 
 
 
 
 

9 

 
4.5    Separate Covenants. 
 
The covenants and agreements contained in this Article 4 are intended by the parties to be separate and distinct from any similar covenants and agreements which may be set forth in any shareholder, buy-sell, cross-purchase
or other agreements among any two or more of Executive, the Company or others (whether executed contemporaneously with, or any time after, the execution of this Agreement), and are intended to be enforceable independently of such other covenants and
agreements. 
 
ARTICLE 5 
 
Miscellaneous Provisions 
 
5.1    Affiliate. 
 
For all purposes hereof, the term “Affiliate”
with respect to any party shall mean (i) any person, corporation, partnership, trust, limited liability company or other entity controlling, controlled by, or under common control with, such party and (ii) any shareholder, officer,
director, partner, director, trustee, beneficiary, member, manager, employee, agent, or relative by blood or marriage of such party or of any person, corporation, partnership, trust, limited liability company or other entity controlling, controlled
by, or under common control with, such party. 
 
5.2    Binding Agreement. 
 
This is a contract for personal services by Executive and shall not be assigned by Executive. Except as above provided, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective personal representatives, heirs, successors and assigns. The term “Company,” as used in this Agreement, shall also include any successors or assigns of the Company, or any surviving partnership, corporation, limited
liability company or other entity to any merger, consolidation or combination of the Company with any other, partnership, corporation, trust, limited liability company or other entity. 
 
5.3    Waiver. 
 
The waiver by the Company of a breach of any provision of this Agreement by Executive shall not operate or be
construed as a waiver of any subsequent breach by Executive. 
 
5.4    Entire Agreement; Amendment. 
 
This Agreement contains the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous agreements, understandings or arrangements, written or
oral, related to its subject matter. This Agreement may not be changed orally and may be changed only by an amendment in writing signed by Executive and specifically considered and approved by the Board. 
 
 
 
 

10 

 
5.5    Severability. 
 
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, in such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. If it shall be determined at any time by any court of competent jurisdiction that any
provision of this Agreement or any portion thereof is unreasonably restrictive or unenforceable, then such portions as shall have been determined unreasonably restrictive or unenforceable shall thereupon be deemed to be so amended as to make such
restrictions reasonable in the determination of such court, and the provisions, as so amended, shall be enforceable between the parties to the same extent as if such amendment had been made prior to the date of any alleged breach of such provision.
Notwithstanding the foregoing, each party hereto agrees that it has reviewed the provisions of this Agreement and that the same, taken as a whole, are fair and reasonable. 
 
5.6    Notices. 
 
(a)    Delivery of Notices. 
 
All notices, demands, requests, offers, counteroffers or
other communications required or permitted under this Agreement shall be in writing and either (i) delivered by personal delivery to such intended recipient, which personal delivery shall be evidenced by a written receipt therefore signed by
such recipient; (ii) sent by United States certified, registered or express mail, return receipt requested, postage prepaid, or by reputable express delivery service (such as Federal Express, UPS, Airborne, Purolator, or DHL), fees prepaid,
addressed to the intended recipient thereof, at the address listed for such party below, or at such other address as such party shall furnish in writing to the other parties to this Agreement; or (iii) transmitted by fax to such intended
recipient at the fax number listed for such party below (or such other fax number as such party shall furnish in writing to the other parties to this Agreement), receipt of which transmission shall be confirmed by such recipient. 
 
If to the
Company:    Sporting Magic, Inc. 
  6430 Cobble Lane 
  Harrison, TN 37341 
  Attention: Danny F. Cooke, Chairman 
  Fax: (423) 344-6644 
 
  With a copy of each to: 
  Robert H. Friedman 
  Olshan Grundman Frome Rosenzweig 
      & Wolosky LLP 
  505 Park Avenue 
 
 
 
 

11 

 
  New York, New York 10022 
 
  and 
 
  W. Scott McGinness, Jr. 
  Miller & Martin LLP 
  Suite 1000, Volunteer Building 
  832 Georgia Avenue 
  Chattanooga, TN 37402 
 
If to Executive:          Mr. Sean
Garber 
  3600 Chamberlain Lane 
  Suite 826 
  Louisville, Kentucky 40241 
  Fax:
(502) 292-0586 
 
With a copy to
each of: 
 
  Steven A.
Goodman, Esq. 
  David H. Cooper, Esq. 
  Goldberg & Simpson, P.S.C. 
  101 South Fifth Street 
  3000 National City Tower 
  Louisville, Kentucky 40202 
  Fax: (502) 581-1344 
 
(b)    Effective Date of Notices. 
 
All such notices, demands, requests, offers, counteroffers or
other communications shall be effective upon being personally delivered and properly receipted, two (2) days after being properly addressed and deposited in the United States mail or with a reputable express delivery service or upon being
transmitted by fax and properly receipted, as set forth above. However, the time period in which a response to any such notice, request, demand, counteroffer or other communication must be given shall commence to run from the date of receipt of
personal delivery, the date on the return receipt or express delivery receipt, or the date of confirmation of receipt of the fax, as the case may be, of the notice, request, demand, counteroffer or other communication by the addressee thereof;
provided, however, that if any party rejects delivery of any such notice, request, demand, counteroffer or other communication properly sent by mail or express delivery service, or fails or neglects, without reasonable cause, to accept delivery
after two (2) attempts to so deliver by postal or express delivery authorities, as the case may be, the time period for a response shall commence two (2) days following the proper mailing or depositing with the express delivery service, as the case
may be, of such notice, request, demand, counteroffer or other communication. 
 

12 

 
5.7    Execution in Counterparts. 
 
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document. 
 
5.8    Captions. 
 
Section titles or captions contained in this Agreement are
inserted only as a matter of convenience and reference, and in no way define, limit, extend or describe the scope of this Agreement or the intent of any provision hereof. 
 
5.9    Governing Law. 
 
This Agreement shall be governed by, and shall be construed and enforced in accordance with, the laws of the
State of Tennessee, without giving effect to any conflict of law, rule or principle that might require the application of the laws of another jurisdiction. 
 
[Signature Page Follows] 
 

13 

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

	 COMPANY:
  
 SPORTING MAGIC, INC.

	
	 By:
	 	 /S/ DANNY F. COOKE

	 	 	 Danny F. Cooke, Chairman

	
	 EXECUTIVE:

	
	 By:
	 	 /S/ SEAN GARBER

	 	 	 Sean Garber

 

14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00048-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00048-of-00352.parquet"}]]