Document:

Exhibit 10.2

 

Dave & Buster’s Entertainment, Inc.

2014 Omnibus Incentive Plan

(Performance Based)

 

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

THIS RESTRICTED STOCK UNIT AWARD
AGREEMENT (this “Award Agreement”) is made effective as of [●] (the “Date of Grant”), between
Dave & Buster’s Entertainment, Inc., a Delaware corporation (the “Company”) and [●] (the
 “Participant”).

 

R E C I T A L S:

 

WHEREAS, the Company has adopted
the Dave & Buster’s Entertainment, Inc. 2014 Omnibus Incentive Plan (as amended from time to time, the “Plan”);
and

 

WHEREAS, the Compensation Committee
of the Board of Directors of the Company (the “Committee”) has determined that it would be in the best interests of the Company
and its stockholders to grant the award (the “Award”) of performance-vesting restricted stock units (each, an “RSU”)
provided for herein to the Participant pursuant to the Plan and the terms set forth herein.

 

NOW THEREFORE, in consideration
of the mutual covenants hereinafter set forth, the parties agree as follows:

 

1.            Grant
of Award. The Company hereby grants to the Participant RSUs on the following terms:

 

(a)            Upon
achievement of target-level performance set forth in this Agreement, [●] RSUs may be earned under this Award (the “Target
Achievable RSUs”) in respect of the three-fiscal year performance period commencing on the first day of fiscal 2022 and ending
on the last day of fiscal 2024 (the “Performance Period,” and the last day, the “Closing Date”).

 

(b)            Each
RSU represents one notional share of common stock, par value $.01 per share, of the Company (each, a “Share”). Two-thirds
of the Target Achievable RSUs shall constitute “A-EBITDA-Based RSUs,” and one-third of the Target Achievable RSUs shall
constitute “ROIC-Based RSUs,” in each case calculated in accordance with Section 2 below.

 

2.            Terms
and Conditions.

 

(a)            Calculation
of Earned Portion. The Award shall be one hundred percent (100%) unvested as of the Date of Grant. Pursuant to the terms of the Plan
and this Award Agreement, including, without limitation, Sections 3 and 4 below, as soon as reasonably practicable following the Closing
Date and completion of the Company’s audit in respect of its 2024 fiscal year, the Committee shall determine and certify the numbers
of A-EBITDA-Based RSUs and ROIC-Based RSUs, if any, that shall be deemed earned and eligible for vesting and settlement (such RSUs, “Earned
RSUs”) in accordance with subsections (b) and (c) below. Any and all RSUs that are not deemed to be Earned RSUs shall
be forfeited and canceled immediately without consideration and shall not be eligible for settlement in accordance with Section 3
hereof.

 

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(b)            Service
Vesting. The Earned RSUs shall vest on ___________ __, 2024 (each, a “Vesting Date”), subject to the Participant’s
continued employment with the Company through each applicable Vesting Date.

 

(c)            A-EBITDA-Based
Calculation. All or a portion of the A-EBITDA-Based RSUs shall be deemed earned as set forth in the table below based on the annual
growth in the Company’s Adjusted EBITDA as defined and calculated in the Company's Form 10-K, as filed with the Securities and Exchange Commission for the fiscal
year ended January 29, 2022; provided that in the reasonable
discretion of the Committee, additions or reductions to the foregoing calculations may be made to address items not contemplated by the
Company’s long range plan or for items that affect the Company’s results during the Performance Period but which directly
relate to transactions or events that occurred outside of the Performance Period, including but not limited to the following nonrecurring
items: Board-approved strategic investment(s) (such as but not limited to future growth vector(s), adjacent brand concept(s), rebranding
initiative(s), or operating model alternative(s)), bank financing transactions, equity offerings in excess of the long-term plan, mergers,
acquisitions, divestitures, legal settlements,  severance payments, and restructurings  (“A-EBITDA”). The annual
growth in A-EBITDA (“ANNUAL GROWTH”) shall be determined by reference to and shall incorporate the relevant elements
of the Company’s audited financial statements as prepared in accordance with United States generally accepted accounting principles
applied on a consistent basis (“GAAP”). ANNUAL GROWTH will be determined for each fiscal year during the Performance
Period by determining the growth in A-EBITDA for the completed fiscal year versus the prior fiscal year’s A-EBITDA, and then measured
on the table below to determine the achieved percentage (the “ACHIEVED PERCENTAGE”) for such fiscal year. Following
determination of each fiscal year’s ACHIEVED PERCENTAGE, the ACHIEVED PERCENTAGE for all three years will be totaled and divided
by three; the resulting percentage will be multiplied by the A-EBITDA-Based RSUs to determine the final amount of earned A-EBITDA-Based
RSUs. For example, if ANNUAL GROWTH for the three fiscal years is 10.5%, 4.5% and 10.5%, respectively, the ACHIEVED PERCENTAGE will be
66.7% (being the sum of 100%+0%+100% divided by 3), and if the target A-EBITDA-Based RSUs is 1200, the earned A-EBITDA-Based RSUs would
be 800 (being 1200x0.667). If the ANNUAL GROWTH for any particular fiscal year falls between the minimum level and target level or between
the target level and maximum level (each such level as set forth below), then the ACHIEVED PERCENTAGE for such fiscal year shall be determined
using straight-line interpolation between the two applicable levels. The A-EBITDA-Based RSUs that are deemed earned in accordance with
this Section 2(b) shall be payable as of (and not before) the Settlement Date (defined below) provided that the Participant
continues to provide Service to the Company until the close of business on the Settlement Date (except as otherwise provided in Section 4).

 

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	ANNUAL GROWTH	Achieved Percentage 
	At least 16.0% (maximum level)	200%
	At least 10.5% and less than 16.0% (target level)	100%
	At least 5.0% and less than 10.5% (minimum level)	50%
	Less than 10.5%	0%

 

Notwithstanding the foregoing, in the event the
announced merger and acquisition of Main Event Entertainment closes during any fiscal year of the Performance Period, A-EBITDA will be
measured solely on the Dave & Buster’s brand without giving effect to the merger and acquisition and assuming budgeted
general and administrative expenses for that fiscal year. Thereafter, for subsequent fiscal years of the Performance Period, A-EBITDA
will be measured on the combined enterprise.

 

(a)            Return
on Invested Capital (ROIC) Based Calculation. All or a portion of the ROIC-Based RSUs shall be deemed earned and eligible for
settlement as set forth in the table below based on the Company’s ROIC (calculated as Net Operating Profit After Taxes
("NOPAT") divided by invested capital) during the Performance Period. Invested capital is the sum of book value of equity plus the book value of debt less cash and cash equivalents. ROIC will be computed
as a simple three-year average for all fiscal years in the Performance Period. If ROIC falls between the minimum level and target level or
between the target level and maximum level (each such level as set forth below), then the percentage of ROIC-Based RSUs shall be
deemed earned shall be determined using straight-line interpolation between the two applicable levels. The ROIC-Based RSUs that are
deemed earned in accordance with this Section 2(c) shall be payable as of (and not before) the Settlement Date provided
that the Participant continues to provide Service to the Company until the close of business on the Settlement Date (except as
otherwise provided in Section 4)

 

	ROIC	Earned Percentage of ROIC-Based RSUs
	At least 27.3% (maximum level)	200%
	At least 23.8% (target level)	100%
	At least 20.3% (minimum level)	50%
	Less than 20.3%	0%

 

Notwithstanding the foregoing, in the event
the announced merger and acquisition of Main Event Entertainment closes during the Performance Period, the Compensation Committee of
the Board of Directors may adjust the ROIC targets to account for the combined enterprise using the same or substantially similar
methodology used to set the original targets, applied to the operations, results, and expected performance of the combined
enterprise. Such revised targets shall be established and communicated to award recipients within 180 days of the closing of the
transaction.

 

3.            Settlement;
Payment.

 

(a)            Share
Settlement. Pursuant to the terms of the Plan and this Award Agreement, including, without limitation, Sections 3(b) and 4 below,
and to the extent that it would not cause a violation of Section 409A, each vested Earned RSU shall be settled by the issuance of
a Share as soon as practicable following the applicable Vesting Date, and in all events no later than the June 30 next following
such Vesting Date, as determined solely by the Company (the date of settlement, the “Settlement Date”). Vested and
Earned RSUs settled via Share issuance shall be distributed to the Participant or the Participant’s legal representative; provided,
that the Company may, at its election, either (a) on or after the Settlement Date, issue a certificate representing the Shares subject
to this Award Agreement, or (b) not issue any certificate representing Shares subject to this Award Agreement and instead document
the Participant’s or the Participant’s legal representative’s interest in the Shares by registering the Shares with
the Company's transfer agent (or another custodian selected by the Company) in book-entry form.

 

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(b)            Limitations.
The maximum number of Shares issuable under this Award Agreement (the “Maximum Share Limit”) shall equal 200% of the
Target Achievable RSUs.

 

(c)            Forfeiture
of Earned RSUs Due to Limitations. Notwithstanding anything to the contrary in this Award Agreement, upon the first to occur of (i) the
issuance pursuant to Section 3(a) above of the number of Shares equal to the Maximum Share Limit, and (ii) the payment
in cash pursuant to Section 3(b) above of an amount equal to the Maximum Cash Limit (as reduced from time to time in accordance
with Section 3(c) above), any remaining Earned RSUs shall be forfeited and canceled immediately without consideration, and no
further Shares or cash shall be issuable or payable to the Participant hereunder.

 

(d)            Award
Subject to Clawback Policy. The Participant agrees and acknowledges that the Participant is bound by, and the Award is subject to,
any clawback policy adopted by the Committee from time to time.

 

4.            Termination
of Service. Notwithstanding anything herein to the contrary:

 

(a)            Termination
of Service Due to Death or Disability. Upon a termination of the Participant’s Service by reason of death or Disability that
occurs:

 

(i)            at
any time prior to the expiration of the Performance Period, then the Award shall be settled in accordance with Section 3 above in
respect of 100% of the Target Achievable RSUs, notwithstanding the termination of the Participant’s Service, except that notwithstanding
Section 2(b), such RSUs shall be immediately fully vested and thereafter settled within sixty (60) days following such termination
of Service, subject to the applicable limitations set forth in Section 3 above; and

 

(ii)            after
the expiration of the Performance Period and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3
above, in respect of the number of then-outstanding Earned RSUs, except that notwithstanding Section 2(b), such RSUs shall be immediately
fully vested and settled within thirty (30) days following such termination of Service, subject to the applicable limitations set forth
in Section 3 above.

 

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For purposes of this Award Agreement, “Disability”
means (i) “Disability” as defined in any employment agreement between the Participant and the Company or any of its Affiliates,
or (ii) if there is no such employment agreement or if it does not define Disability: the Participant is disabled to the extent that
he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or is
receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees
of Dave & Buster’s Management Corporation, Inc. The determination of the Participant’s Disability shall be made
in good faith by a physician reasonably acceptable to the Company.

 

(b)            Termination
of Service Due to Retirement. Upon a termination of the Participant’s Service by reason of Retirement that occurs:

 

(i)            at
any time prior to the expiration of the Performance Period, then the Award shall be settled in accordance with Section 3 above in
respect of the number of RSUs that would have been earned pursuant to this Agreement based on actual performance during the full Performance
Period, notwithstanding the termination of the Participant’s Service, multiplied by a fraction, the numerator of which is the number
of days in the Performance Period through and including the date of termination of Service, and the denominator of which is 1,095, except
that notwithstanding Section 2(b), such RSUs shall be fully vested and settled on the Settlement Date next following such termination
of Service, subject to the applicable limitations set forth in Section 3 above; and

 

(ii)            after
the expiration of the Performance Period and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3
above, in respect of the number of then-outstanding Earned RSUs that would have vested on the Vesting Date coincident with or next following
such termination of Service, multiplied by a fraction, the numerator of which is the number of days elapsed after the immediately preceding
Vesting Date through and including the date of termination of Service, and the denominator of which is 365, except that notwithstanding
Section 2(b), such RSUs shall be immediately fully vested and settled within thirty (30) days following such termination of Service,
subject to the applicable limitations set forth in Section 3 above.

 

For purposes of this Award Agreement, “Retirement”
means (i) “Retirement” as defined in any employment agreement between the Participant and the Company or any of its Affiliates,
or (ii) if there is no such employment agreement or if it does not define Retirement: termination of the Participant’s Service,
other than for Cause, after attaining (A) age sixty (60) and completing ten (10) years of continued Service (i.e., without any
termination of Service) with the Company or its Affiliates or (B) age sixty-five (65).

 

(c)            Termination
without Cause or for Good Reason related to a Change of Control. Upon (i) a termination of the Participant’s Service by
the Company or one of its successors or Affiliates without Cause or due to the Participant’s resignation for Good Reason (excluding
termination by reason of death or Disability) (a “Specified Termination”) and (ii) the Specified Termination occurs
either within ninety (90) days before or within twelve (12) months following the occurrence of a Change of Control of the Company (the
 “Protected Period”), then:

 

(i)            If
the Change in Control occurs at any time prior to the expiration of the Performance Period, the Award shall be converted to restricted
stock units (“RSUs”) in respect of the Target Achievable RSUs, notwithstanding the termination of the Participant’s
Service, except that notwithstanding Section 2(b), such RSUs shall be immediately fully vested and be settled on the Settlement Date
next following such termination of Service, subject to the applicable limitations set forth in Section 3 above; and

 

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(ii)            If
the Change in Control occurs after the expiration of the Performance Period and prior to the final Settlement Date, the Award shall be
settled in accordance with Section 3 above, in respect of the number of then-outstanding Earned RSUs, except that notwithstanding
Section 2(b), such RSUs shall be fully vested upon such termination (or, if later, such Change of Control) and settled within ten
(10) days following such termination (or, if later, such Change of Control), subject to the applicable limitations set forth in Section 3
above;

 

provided,
that if a Specified Termination should occur prior to a Change of Control of the Company, the Award shall remain outstanding for up to
ninety (90) days following such Specified Termination in order to determine whether such Specified Termination shall have occurred during
a Protected Period such that the Award shall be eligible for settlement pursuant to this Section 4(c).

 

(d)            Termination
of Service without Cause. Upon a termination of the Participant’s Service by the Company or one of its successors or Affiliates
without Cause that occurs:

 

(i)            at
any time prior to the expiration of the Performance Period, then the Award shall be settled in accordance with Section 3 above in
respect of the number of RSUs that would have been earned pursuant to this Agreement based on actual performance during the full Performance
Period, notwithstanding the termination of the Participant’s Service, multiplied by a fraction, the numerator of which is the number
of days in the Performance Period through and including the date of termination of Service, and the denominator of which is 1,095, except
that notwithstanding Section 2(b), such RSUs shall be fully vested and settled on the Settlement Date next following such termination
of Service, subject to the applicable limitations set forth in Section 3 above; and

 

(ii)            after
the expiration of the Performance Period and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3
above, in respect of the number of then-outstanding Earned RSUs that would have vested on the Vesting Date coincident with or next following
such termination of Service, multiplied by a fraction, the numerator of which is the number of days elapsed after the Date of Grant through
and including the date of termination of Service, and the denominator of which is 365, except that notwithstanding Section 2(b),
such RSUs shall be fully vested and settled within thirty (30) days following such termination of Service, subject to the applicable limitations
set forth in Section 3 above.

 

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(e)            For
purposes of this Award Agreement, “Cause” means (x) “Cause” as defined in any employment agreement
between the Participant and the Company or any of its Affiliates, or (y) if there is no such employment agreement or if it does not
define Cause: the willful and continued failure by the Participant to perform the duties assigned by the Company, failure to follow reasonable
business-related directions from the Company, gross insubordination, theft from the Company or its Affiliates, habitual absenteeism or
tardiness, conviction or plea of guilty or nolo contendere to a felony, misdemeanor involving fraud, theft or moral turpitude,
or any other reckless or willful misconduct that is contrary to the best interests of the Company or materially and adversely affects
the reputation of the Company.

 

(f)            For
purposes of this Award Agreement, “Good Reason” means (i) “Good Reason” as defined in any employment
agreement between the Participant and the Company or any of its Affiliates, or (ii) if there is no such employment agreement or if
it does not define Good Reason: Without the Participant’s consent, (A) a material reduction in the Participant’s annual
base salary or (B) a relocation of the Participant’s primary place of employment with the Company by more than fifty (50) miles
from that in effect as of the Date of Grant; provided, however, that neither item (A) nor item (B) shall constitute Good Reason
unless the Participant has provided written notice to the Company within thirty (30) days of the occurrence of such event and the Company
shall have failed to cure such event within thirty (30) days of receipt of such written notice.

 

(g)            Other
Terminations of Service. Upon a termination of the Participant’s Service prior to the final Settlement Date for any reason other
than pursuant to Sections 4(a), 4(b), 4(c) and 4(d) above, the Award, including any then-outstanding Earned RSUs, shall immediately
terminate and be forfeited without consideration.

 

(h)            Release.
Upon a termination of the Participant’s Service prior to the final Settlement Date for termination without Cause pursuant to Section 4(d),
settlement of any Award shall be conditioned first upon the Participant’s execution of a fully effective and non-revocable general
release (“Release”) in favor of the Company, its Board of Directors, Affiliates, and employees, in such form as reasonably
approved by the Company and the Participant within sixty (60) days of the Participant’s termination of Service, which Release shall
be provided to the Participant within five (5) days of the Participant’s termination of Service.

 

5.            No
Right to Continued Service. The granting of the Award evidenced hereby and this Award Agreement shall impose no obligation on the
Company or any Affiliate to continue the Service of the Participant and shall not lessen or affect any right that the Company or any Affiliate
may have to terminate the Service of such Participant.

 

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6.            Shareholder
Rights. Neither the Participant nor the Participant’s representative shall have any rights as a shareholder of the Company with
respect to the RSUs until such Person receives the Shares, if any, issued upon settlement.

 

7.            Non-Solicitation
and Non-Hire. If the Participant has an employment agreement with the Company or any of its Subsidiaries that contains non-solicitation
and/or non-hire covenants, the covenants are incorporated into this Award Agreement by reference. To the extent the Participant does not
have an employment agreement containing such covenants, the following restrictive covenants shall apply:

 

As a material incentive for
the Company to enter into this Award Agreement, during the term of the Participant’s employment with the Company or any of its Subsidiaries
and for a period of twelve (12) months from the termination of the Participant’s employment for any reason (including, without limitation,
resignation by the Participant) (the "Non-Solicitation and Non-Hire Period") the Participant shall not, directly or indirectly,
on the Participant’s own behalf or on behalf of any other person, partnership, entity, association, or corporation, induce or attempt
to influence, induce, or encourage anyone who is or, within the six (6) months prior to the date of termination was, an employee
of the Company or any of its Subsidiaries at or above the managerial level (including, without limitation, General Managers, Assistant
General Managers, store departmental managers, and all higher-ranking managers) (for purposes of this Section 7, an “Employee”),
client, supplier, vendor, licensee, distributor, contractor or other business relation of the Company or any of its Subsidiaries to cease
doing business with, adversely alter or interfere with its business relationship with, the Company or any of its Subsidiaries. Further,
during the Non-Solicitation and Non-Hire Period, the Participant shall not, on the Participant’s own behalf or on behalf of any
other person, partnership, entity, association, or corporation, (i) solicit or seek to hire any Employee, or in any other manner
attempt directly or indirectly to influence, induce, or encourage any Employee to leave their employ (provided, however, that nothing
herein shall restrict the Participant from engaging in any general solicitation that is not specifically targeted at such persons), nor
shall the Participant use or disclose to any person, partnership, entity, association, or corporation any information concerning the names,
addresses or personal telephone numbers of any Employee, (ii) without the Company's prior written consent, hire, employ or engage
as a consultant any Employee, or (iii) directly or indirectly solicit, induce, or attempt to influence, induce, or encourage any
person, partnership, entity, association, or corporation that is a client or customer of the Company or its Subsidiaries and who or which
the Participant helped to schedule or conduct a special event or corporate teambuilding while employed by the Company or its Subsidiaries
to schedule or conduct a special event or corporate teambuilding through another person, partnership, entity, association, or corporation.

 

This Section 7 shall survive
termination or settlement of the Award and termination or satisfaction of the Award Agreement.

 

8.            Securities
Laws/Legend on Certificates. The issuance and delivery of Shares shall comply with all applicable requirements of law, including (without
limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations,
and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. If the
Company deems it necessary to ensure that the issuance of securities under the Plan is not required to be registered under any applicable
securities laws, the Participant shall deliver to the Company an agreement or certificate containing such representations, warranties
and covenants as the Company which satisfies such requirements. The certificates representing the Shares shall be subject to such stop
transfer orders and other restrictions as the Committee may deem reasonably advisable, and the Committee may cause a legend or legends
to be put on any such certificates to make appropriate reference to such restrictions.

 

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9.            Transferability.
Unless otherwise provided by the Committee, the Award may not be assigned, alienated, pledged, attached, sold or otherwise transferred
or encumbered by the Participant other than by will or by the laws of descent and distribution, and any such purported assignment, alienation,
pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided
that, the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.
No such permitted transfer of the Award to heirs or legatees of the Participant shall be effective to bind the Company unless the Committee
shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem necessary to establish the
validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof.

 

10.            Withholding.
The Participant may be required to pay to the Company or any Affiliate and the Company shall have the right and is hereby authorized to
withhold any applicable withholding taxes in respect of the Award, its exercise or transfer and to take such other action as may be necessary
in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes.

 

11.            Notices.
Any notification required by the terms of this Award Agreement shall be given in writing and shall be deemed effective upon personal delivery
or within three (3) days of deposit with the United States Postal Service, by registered or certified mail, with postage and fees
prepaid. A notice shall be addressed to the Company, Attention: General Counsel, at its principal executive office and to the Participant
at the address that he or she most recently provided to the Company.

 

12.            Entire
Agreement. This Award Agreement and the Plan constitute the entire contract between the parties hereto with regard to the subject
matter hereof and supersede any other agreements, representations or understandings (whether oral or written and whether express or implied)
which relate to the subject matter hereof.

 

13.            Waiver.
No waiver of any breach or condition of this Award Agreement shall be deemed to be a waiver of any other or subsequent breach or condition
whether of like or different nature.

 

14.            Successors
and Assigns. The provisions of this Award Agreement shall inure to the benefit of, and be binding upon, the Company and its successors
and assigns and upon the Participant, the Participant’s assigns and the legal representatives, heirs and legatees of the Participant’s
estate, whether or not any such person shall have become a party to this Award Agreement and have agreed in writing to be joined herein
and be bound by the terms hereof.

 

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15.            Governing
Law; Jurisdiction; Waiver of Jury Trial.

 

(a)            This
Award Agreement and all claims, causes of action or proceedings (whether in contract, in tort, at law or otherwise) that may be based
upon, arise out of or relate to this Award Agreement shall be governed by the internal laws of the State of Delaware, excluding any conflicts
or choice-of-law rule or principle that might otherwise refer construction or interpretation of the Award Agreement to the substantive
law of another jurisdiction. Each party to this Award Agreement agrees that it shall bring all claims, causes of action and proceedings
(whether in contract, in tort, at law or otherwise) that may be based upon, arise out of or be related to the Award Agreement exclusively
in the Delaware Court of Chancery or, in the event (but only in the event) that such court does not have subject-matter jurisdiction over
such claim, cause of action or proceeding, exclusively in the United States District Court for the District of Delaware (the “Chosen
Court”) and hereby (i) irrevocably submits to the exclusive jurisdiction of the Chosen Court, (ii) waives any objection
to laying venue in any such proceeding in the Chosen Court, (iii) waives any objection that the Chosen Court is an inconvenient forum
or does not have jurisdiction over any party and (iv) agrees that service of process upon such party in any such claim or cause of
action shall be effective if notice is given in accordance with this Award Agreement.

 

(b)            EACH
OF THE PARTIES HERETO IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY CLAIM OR CAUSE OF ACTION (WHETHER IN CONTRACT, IN TORT,
AT LAW OR OTHERWISE) INSTITUTED BY OR AGAINST SUCH PARTY IN RESPECT OF ITS, HIS OR HER OBLIGATIONS HEREUNDER.

 

16.            Award
Subject to Plan. By entering into this Award Agreement the Participant agrees and acknowledges that the Participant has received and
read a copy of the Plan. The Award is subject to the Plan. The terms and provisions of the Plan as it may be amended from time to time
are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision
of the Plan, the applicable terms and provisions of the Plan will govern and prevail. Capitalized terms not otherwise defined herein shall
have the same meanings as in the Plan.

 

17.            No
Guarantees Regarding Tax Treatment. The Participant shall be responsible for all taxes with respect to the Award. The Committee and
the Company make no guarantees regarding the tax treatment of the Award.

 

18.            Amendment.
The Committee may amend or alter this Award Agreement and the Award granted hereunder at any time, subject to the terms of the Plan.

 

19.            Signature
in Counterparts. This Award Agreement may be signed in counterparts, manually or electronically, and each of which will be an original,
with the same effect as if the signatures to each were upon the same instrument.

 

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20.            Electronic
Signature and Delivery. This Award Agreement may be accepted by return signature or by electronic confirmation. Each party agrees
that the electronic signatures, whether digital or encrypted, of the parties included in this Award Agreement are intended to authenticate
this writing and to have the same force and effect as manual signatures.  Delivery of a copy of this Agreement or any other document
contemplated hereby bearing an original or electronic signature by facsimile transmission (whether directly from one facsimile device
to another by means of a dial-up connection or whether mediated by the worldwide web), by electronic mail in “portable document
format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance
of a document, will have the same effect as physical delivery of the paper document bearing an original or electronic signature.

 

21.            Severability.
The provisions of this Award Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable,
in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

 

[signature page follows]

 

D&B
Team Member - [●]

2022 Restricted Stock Unit Award Agreement –
Performance Based

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IN WITNESS WHEREOF, the Company
and the Participant have executed this Restricted Stock Unit Award Agreement as of the date first set forth above.

 

 

	PARTICIPANT	 
	 	 
	 	 
	 	 

 

 

	 	DAVE & BUSTER’S ENTERTAINMENT, INC.
	 	 
	 	 
	 	By:	                           
	 	 	Name:
	 	 	Title:

 

D&B
Team Member - [●]

2022 Restricted Stock Unit Award Agreement –
Performance Based

Page 12
of 12Exhibit 10.3

 

Dave & Buster’s Entertainment, Inc.

2014 Omnibus Incentive Plan

 

RESTRICTED STOCK UNIT AGREEMENT

(Time-Based)

 

THIS RESTRICTED STOCK UNIT AGREEMENT
(this “Award Agreement”) is made effective as of April 18, 2022 (the “Date of Grant”), between
Dave & Buster’s Entertainment, Inc., a Delaware corporation (the “Company”) and [●] (the
 “Participant”).

 

R E C I T A L S:

 

WHEREAS, the Company has adopted
the Dave & Buster’s Entertainment, Inc. 2014 Omnibus Incentive Plan (as amended from time to time, the “Plan”);
and

 

WHEREAS, the Compensation Committee
of the Board of Directors of the Company (the “Committee”) has determined that it would be in the best interests of the Company
and its stockholders to grant the award (the “Award”) of restricted stock units (each, an “RSU”)
provided for herein to the Participant pursuant to the Plan and the terms set forth herein.

 

NOW THEREFORE, in consideration
of the mutual covenants hereinafter set forth, the parties agree as follows:

 

1.            Grant
of Award. The Company hereby grants to the Participant [●] RSUs. The RSU Award will vest in three (3) installments as follows:
[●] RSUs on the first anniversary of the Date of Grant, [●] RSUs on the second anniversary of the Date of Grant, and [●]
RSUs on third anniversary of the Date of Grant. Each RSU represents one notional share of common stock, par value $.01 per share, of the
Company (each, a “Share”), provided that the RSUs shall be settled in Shares in accordance with Section 2 below.

 

2.            Settlement;
Payment.

 

(a)            RSUs.
Subject to the terms of the Plan and this Award Agreement, including, without limitation, Section 4 hereof, and to the extent that
it would not cause a violation of Section 409A, each RSU shall be settled by the issuance of a Share as soon as practicable following
the applicable date of vesting, and in all events no later than sixty (60) days following the applicable date of vesting, as determined
solely by the Company (the date of settlement, the “Settlement Date”). RSUs settled via Share issuance shall be distributed
to the Participant or the Participant’s legal representative; provided, that the Company may, at its election, either (a) on
or after the Settlement Date, issue a certificate representing the Shares subject to this Award Agreement, or (b) not issue any certificate
representing Shares subject to this Award Agreement and instead document the Participant’s or the Participant’s legal representative’s
interest in the Shares by registering the Shares with the Company's transfer agent (or another custodian selected by the Company) in book-entry
form.

 

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2022 Restricted Stock Unit Award Agreement –
Time Based

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(b)            Award
Subject to Clawback Policy. The Participant agrees and acknowledges that the Participant is bound by, and the Award is subject to,
any clawback policy adopted by the Committee from time to time.

 

3.            Termination
of Service. Notwithstanding anything herein to the contrary:

 

(a)            Termination
of Service Due to Death or Disability. Upon a termination of the Participant’s Service by reason of death or Disability that
occurs at any time prior to the final Settlement Date, then the Award shall be settled in accordance with Section 2 above in respect
of the number of then-outstanding RSUs, except that notwithstanding Section 1, such RSUs shall be immediately fully vested and settled
within sixty (60) days following such termination of Service, subject to the applicable limitations set forth in Section 2 above.

 

For purposes of this Award Agreement, “Disability”
means (i) “Disability” as defined in any employment agreement between the Participant and the Company or any of its Affiliates,
or (ii) if there is no such employment agreement or if it does not define Disability: the Participant is disabled to the extent that
he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or is
receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees
of Dave & Buster’s Management Corporation, Inc. The determination of the Participant’s Disability shall be made
in good faith by a physician reasonably acceptable to the Company.

 

(b)            Termination
of Service Due to Retirement. Upon a termination of the Participant’s Service by reason of Retirement that occurs at any time
prior to the final Settlement Date, then the Award shall continue to vest and be settled in accordance with Section 2 above, subject
to the applicable limitations set forth in Section 2 above.

 

For purposes of this Award Agreement, “Retirement”
means (i) “Retirement” as defined in any employment agreement between the Participant and the Company or any of its Affiliates,
or (ii) if there is no such employment agreement or if it does not define Retirement: termination of the Participant’s Service,
other than for Cause, after attaining (A) age sixty (60) and completing ten (10) years of continued Service (i.e., without any
termination of Service) with the Company or its Affiliates or (B) age sixty-five (65).

 

(c)            Termination
without Cause or for Good Reason related to a Change of Control. Upon (i) a termination of the Participant’s Service by
the Company or one of its successors or Affiliates without Cause or due to the Participant’s resignation for Good Reason (excluding
termination by reason of death or Disability), in either case prior to the final Settlement Date (a “Specified Termination”)
and (ii) the Specified Termination occurs either within ninety (90) days before or within twelve (12) months following the occurrence
of a Change of Control of the Company (the “Protected Period”), that occurs at any time prior to the final Settlement
Date, then the Award shall be settled in accordance with Section 2 above in respect of the number of then-outstanding RSUs, except
that notwithstanding Section 1, such RSUs shall be immediately fully vested and thereafter settled on the Settlement Date next following
such termination of Service, subject to the applicable limitations set forth in Section 2 above; provided, that if a Specified
Termination should occur prior to a Change of Control of the Company, the Award shall remain outstanding for up to ninety (90) days following
such Specified Termination in order to determine whether such Specified Termination shall have occurred during a Protected Period such
that the Award shall be eligible for settlement pursuant to this Section 3(c).

 

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2022 Restricted Stock Unit Award Agreement –
Time Based

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(d)            Termination
without Cause. Upon a termination of the Participant’s Service by the Company or one of its successors or Affiliates without
Cause, that occurs at any time prior to the final Settlement Date, then the Award shall be settled in accordance with Section 2 above
in respect of the number of then-outstanding RSUs that would have vested on the applicable date of vesting coincident with or next following
such termination of Service, multiplied by a fraction, the numerator of which is the number of days elapsed after the immediately preceding
date of vesting through and including the date of termination of Service, and the denominator of which is [365], except that notwithstanding
Section 1, such RSUs shall be fully vested and settled on the Settlement Date next following such termination of Service, subject
to the applicable limitations set forth in Section 2 above.

 

(e)            For
purposes of this Award Agreement, “Cause” means (x) “Cause” as defined in any employment agreement
between the Participant and the Company or any of its Affiliates, or (y) if there is no such employment agreement or if it does not
define Cause: the willful and continued failure by the Participant to perform the duties assigned by the Company, failure to follow reasonable
business-related directions from the Company, gross insubordination, theft from the Company or its Affiliates, habitual absenteeism or
tardiness, conviction or plea of guilty or nolo contendere to a felony, misdemeanor involving fraud, theft or moral turpitude,
or any other reckless or willful misconduct that is contrary to the best interests of the Company or materially and adversely affects
the reputation of the Company.

 

(f)            For
purposes of this Award Agreement, “Good Reason” means (i) “Good Reason” as defined in any employment
agreement between the Participant and the Company or any of its Affiliates, or (ii) if there is no such employment agreement or if
it does not define Good Reason: Without the Participant’s consent, (A) a material reduction in the Participant’s annual
base salary or (B) a relocation of the Participant’s primary place of employment with the Company by more than fifty (50) miles
from that in effect as of the Date of Grant; provided, however, that neither item (A) nor item (B) shall constitute Good Reason
unless the Participant has provided written notice to the Company within thirty (30) days of the occurrence of such event and the Company
shall have failed to cure such event within thirty (30) days of receipt of such written notice.

 

(g)            Other
Terminations of Service. Upon a termination of the Participant’s Service prior to the final Settlement Date for any reason other
than pursuant to Sections 3(a), 3(b), 3(c) and 3(d) above, the Award, including any then-outstanding RSUs, shall immediately
terminate and be forfeited without consideration.

 

(h)            Release.
Upon a termination of the Participant’s Service prior to the final Settlement Date for termination without Cause pursuant to Section 3(d),
settlement of any Award shall be conditioned first upon the Participant’s execution of a fully effective and non-revocable general
release (“Release”) in favor of the Company, its Board of Directors, Affiliates, and employees, in such form as reasonably
approved by the Company and the Participant within sixty (60) days of the Participant’s termination of Service, which Release shall
be provided to the Participant within five (5) days of the Participant’s termination of Service.

 

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2022 Restricted Stock Unit Award Agreement –
Time Based

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4.            No
Right to Continued Service. The granting of the Award evidenced hereby and this Award Agreement shall impose no obligation on the
Company or any Affiliate to continue the Service of the Participant and shall not lessen or affect any right that the Company or any Affiliate
may have to terminate the Service of such Participant.

 

5.            Shareholder
Rights. Neither the Participant nor the Participant’s representative shall have any rights as a shareholder of the Company with
respect to the RSUs until such Person receives the Shares, if any, issued upon settlement.

 

6.            Non-Solicitation
and Non-Hire. If the Participant has an employment agreement with the Company or any of its Subsidiaries that contains non-solicitation
and/or non-hire covenants, the covenants are incorporated into this Award Agreement by reference. To the extent the Participant does not
have an employment agreement containing such covenants, the following restrictive covenants shall apply:

 

As a material incentive for
the Company to enter into this Award Agreement, during the term of the Participant’s employment with the Company or any of its Subsidiaries
and for a period of twelve (12) months from the termination of the Participant’s employment for any reason (including, without limitation,
resignation by the Participant) (the "Non-Solicitation and Non-Hire Period") the Participant shall not, directly or indirectly,
on the Participant’s own behalf or on behalf of any other person, partnership, entity, association, or corporation, induce or attempt
to influence, induce, or encourage anyone who is or, within the six (6) months prior to the date of termination was, an employee
of the Company or any of its Subsidiaries at or above the managerial level (including, without limitation, General Managers, Assistant
General Managers, store departmental managers, and all higher-ranking managers) (for purposes of this Section 6, an “Employee”),
client, supplier, vendor, licensee, distributor, contractor or other business relation of the Company or any of its Subsidiaries to cease
doing business with, adversely alter or interfere with its business relationship with, the Company or any of its Subsidiaries. Further,
during the Non-Solicitation and Non-Hire Period, the Participant shall not, on the Participant’s own behalf or on behalf of any
other person, partnership, entity, association, or corporation, (i) solicit or seek to hire any Employee, or in any other manner
attempt directly or indirectly to influence, induce, or encourage any Employee to leave their employ (provided, however, that nothing
herein shall restrict the Participant from engaging in any general solicitation that is not specifically targeted at such persons), nor
shall the Participant use or disclose to any person, partnership, entity, association, or corporation any information concerning the names,
addresses or personal telephone numbers of any Employee, (ii) without the Company's prior written consent, hire, employ or engage
as a consultant any Employee, or (iii) directly or indirectly solicit, induce, or attempt to influence, induce, or encourage any
person, partnership, entity, association, or corporation that is a client or customer of the Company or its Subsidiaries and who or which
the Participant helped to schedule or conduct a special event or corporate teambuilding while employed by the Company or its Subsidiaries
to schedule or conduct a special event or corporate teambuilding through another person, partnership, entity, association, or corporation.

 

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2022 Restricted Stock Unit Award Agreement –
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This Section 6 shall survive
termination or settlement of the Award and termination or satisfaction of the Award Agreement.

 

7.            Securities
Laws/Legend on Certificates. The issuance and delivery of Shares shall comply with all applicable requirements of law, including (without
limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations,
and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. If the
Company deems it necessary to ensure that the issuance of securities under the Plan is not required to be registered under any applicable
securities laws, the Participant shall deliver to the Company an agreement or certificate containing such representations, warranties
and covenants as the Company which satisfies such requirements. The certificates representing the Shares shall be subject to such stop
transfer orders and other restrictions as the Committee may deem reasonably advisable, and the Committee may cause a legend or legends
to be put on any such certificates to make appropriate reference to such restrictions.

 

8.            Transferability.
Unless otherwise provided by the Committee, the Award may not be assigned, alienated, pledged, attached, sold or otherwise transferred
or encumbered by the Participant other than by will or by the laws of descent and distribution, and any such purported assignment, alienation,
pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided
that, the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.
No such permitted transfer of the Award to heirs or legatees of the Participant shall be effective to bind the Company unless the Committee
shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem necessary to establish the
validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof.

 

9.            Withholding.
The Participant may be required to pay to the Company or any Affiliate and the Company shall have the right and is hereby authorized to
withhold any applicable withholding taxes in respect of the Award, its exercise or transfer and to take such other action as may be necessary
in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes.

 

10.            Notices.
Any notification required by the terms of this Award Agreement shall be given in writing and shall be deemed effective upon personal delivery
or within three (3) days of deposit with the United States Postal Service, by registered or certified mail, with postage and fees
prepaid. A notice shall be addressed to the Company, Attention: General Counsel, at its principal executive office and to the Participant
at the address that he or she most recently provided to the Company.

 

11.            Entire
Agreement. This Award Agreement and the Plan constitute the entire contract between the parties hereto with regard to the subject
matter hereof and supersede any other agreements, representations or understandings (whether oral or written and whether express or implied)
which relate to the subject matter hereof.

 

D&B
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2022 Restricted Stock Unit Award Agreement –
Time Based

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12.            Waiver.
No waiver of any breach or condition of this Award Agreement shall be deemed to be a waiver of any other or subsequent breach or condition
whether of like or different nature.

 

13.            Successors
and Assigns. The provisions of this Award Agreement shall inure to the benefit of, and be binding upon, the Company and its successors
and assigns and upon the Participant, the Participant’s assigns and the legal representatives, heirs and legatees of the Participant’s
estate, whether or not any such person shall have become a party to this Award Agreement and have agreed in writing to be joined herein
and be bound by the terms hereof.

 

14.            Governing
Law; Jurisdiction; Waiver of Jury Trial.

 

(a)            This
Award Agreement and all claims, causes of action or proceedings (whether in contract, in tort, at law or otherwise) that may be based
upon, arise out of or relate to this Award Agreement shall be governed by the internal laws of the State of Delaware, excluding any conflicts
or choice-of-law rule or principle that might otherwise refer construction or interpretation of the Award Agreement to the substantive
law of another jurisdiction. Each party to this Award Agreement agrees that it shall bring all claims, causes of action and proceedings
(whether in contract, in tort, at law or otherwise) that may be based upon, arise out of or be related to the Award Agreement exclusively
in the Delaware Court of Chancery or, in the event (but only in the event) that such court does not have subject-matter jurisdiction over
such claim, cause of action or proceeding, exclusively in the United States District Court for the District of Delaware (the “Chosen
Court”) and hereby (i) irrevocably submits to the exclusive jurisdiction of the Chosen Court, (ii) waives any objection
to laying venue in any such proceeding in the Chosen Court, (iii) waives any objection that the Chosen Court is an inconvenient forum
or does not have jurisdiction over any party and (iv) agrees that service of process upon such party in any such claim or cause of
action shall be effective if notice is given in accordance with this Award Agreement.

 

(b)            EACH
OF THE PARTIES HERETO IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY CLAIM OR CAUSE OF ACTION (WHETHER IN CONTRACT, IN TORT,
AT LAW OR OTHERWISE) INSTITUTED BY OR AGAINST SUCH PARTY IN RESPECT OF ITS, HIS OR HER OBLIGATIONS HEREUNDER.

 

15.            Award
Subject to Plan. By entering into this Award Agreement the Participant agrees and acknowledges that the Participant has received and
read a copy of the Plan. The Award is subject to the Plan. The terms and provisions of the Plan as it may be amended from time to time
are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision
of the Plan, the applicable terms and provisions of the Plan will govern and prevail. Capitalized terms not otherwise defined herein shall
have the same meanings as in the Plan.

 

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2022 Restricted Stock Unit Award Agreement –
Time Based

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16.            No
Guarantees Regarding Tax Treatment. The Participant shall be responsible for all taxes with respect to the Award. The Committee and
the Company make no guarantees regarding the tax treatment of the Award.

 

17.            Amendment.
The Committee may amend or alter this Award Agreement and the Award granted hereunder at any time, subject to the terms of the Plan.

 

18.            Signature
in Counterparts. This Award Agreement may be signed in counterparts, manually or electronically, and each of which will be an original,
with the same effect as if the signatures to each were upon the same instrument.

 

19.            Electronic
Signature and Delivery. This Award Agreement may be accepted by return signature or by electronic confirmation. Each party agrees
that the electronic signatures, whether digital or encrypted, of the parties included in this Award Agreement are intended to authenticate
this writing and to have the same force and effect as manual signatures.  Delivery of a copy of this Agreement or any other document
contemplated hereby bearing an original or electronic signature by facsimile transmission (whether directly from one facsimile device
to another by means of a dial-up connection or whether mediated by the worldwide web), by electronic mail in “portable document
format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance
of a document, will have the same effect as physical delivery of the paper document bearing an original or electronic signature.

 

20.            Severability.
The provisions of this Award Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable,
in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

 

IN WITNESS WHEREOF, the Company
and the Participant have executed this Restricted Stock Unit Agreement as of the date first set forth above.

 

 

	PARTICIPANT	 
	 	 
	 	 
	By:	 	 
	 	[●]	 

 

 

	 	DAVE & BUSTER’S ENTERTAINMENT, INC.
	 	 
	 	 
	 	By:	                           
	 	 	Name:
	 	 	Title:

 

D&B
Team Member - [●]

2022 Restricted Stock Unit Award Agreement –
Time Based

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