Document:

Monaker Group, Inc. 8-K

 

Exhibit 10.2

 

Stock
Purchase Agreement

 

THIS
STOCK PURCHASE AGREEMENT (this “Agreement”) is entered into on the 6th day of December 2018, by
and among Charcoal Investment Ltd. (the “Purchaser”);

 

and

 

Monaker
Group, Inc., a Nevada corporation (the “Seller”), with its principal place of business at 2893 Executive
Park Drive, Suite 201, Weston, Florida 33331.

 

The
Purchaser and the Seller are also referred to herein individually as a “Party” and collectively as the
“Parties.”

 

A.

Seller owns 7,000,000 shares of restricted common stock of Bettwork Industries Inc. (the “Seller Shares”),
a Nevada corporation located 704 N. 39th Street, Suite 120, Fort Pierce Florida, 34947 (the “Company”);

 

B. 

Seller is willing to sell 428,572 of the Seller Shares (the “Shares”) to the Purchaser pursuant to the
terms of this Agreement; and

 

C. 

The Purchaser desires to purchase the Shares from the Seller pursuant to the terms and conditions set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements contained herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

ARTICLE
I

Purchase
and Sale of the Shares; Option

 

Section
1.01.Purchase and Sale. On the Closing Date (as defined below) (the “Closing”) and upon
the terms and subject to the conditions set forth herein, the Seller shall deliver the Shares of the Company to the Purchaser
free and clear of all liens and encumbrances (other than restrictions due to the fact that the Shares are ‘restricted securities’
as such term is defined in Rule 144 of the Securities Act of 1933, as amended (the “Securities Act”)),
and the Purchaser shall purchase the Shares from the Seller for an aggregate of $300,000 ($0.70 per Share) (the “Purchase
Price”).

 

Section
1.02.Delivery of Stock Power; Payment of Purchase Price. At the Closing: (a) Seller shall deliver to the Purchaser
stock powers duly endorsed in blank together with certificates evidencing the Shares (collectively, the “Share Materials”);
and (b) the Purchaser shall deliver the Purchase Price to the Seller.

 

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 Stock Purchase Agreement	 

    	 

    

 

Section
1.03.Closing. The Closing of the transactions contemplated by this Agreement shall take place at the offices of
Monaker Group, Inc., or remotely by mail, facsimile, e-mail and/or wire transfer, in each case to the extent acceptable to the
Parties hereto, or at such other place as is mutually acceptable to the Parties on such date which is mutually acceptable to the
Parties (as applicable, the “Closing Date”), but no later than November 30, 2018 (the “Required
Closing Date”).

 

Section
1.04.Option. For a period of twenty-four (24) months following the Closing Date, the Seller shall be provided an
option to acquire an additional 1,000,000 of the Seller Shares, for an aggregate of $700,000 or $0.70 per share, exercisable at
any time in writing (the “Option”). Upon exercise of the Option, the Seller and Purchaser shall enter
into a Stock Purchase Agreement in substantially the form hereof (except for this Section 1.04), setting forth the terms
and provisions of the subsequent sale of Seller Shares, and the additional Seller Shares shall be sold to the Seller pursuant
to such subsequent Stock Purchase Agreement.

 

ARTICLE
II

Representations
and Warranties of the Seller

 

Subject
to all of the terms, conditions and provisions of this Agreement, the Seller represents and warrants to the Purchaser as follows:

 

Section
2.01.Authority. The Seller has all requisite power and authority to execute and deliver this Agreement and to consummate
the transactions contemplated hereby. The Seller has duly and validly executed and delivered this Agreement and will, on or prior
to the Closing, and shall execute such other documents as may be required hereunder and, assuming the due authorization, execution
and delivery of this Agreement by the Parties hereto. Seller is authorized to affect the transactions contemplated herein. This
Agreement constitutes the legal, valid and binding obligation of the Seller in accordance with its terms, except as such enforcement
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the creditors’
rights generally and general equitable principles.

 

Section
2.02.No Conflict. The execution and delivery by the Seller of this Agreement and the consummation of the transactions
contemplated hereby, do not and will not, by the lapse of time, the giving of notice or otherwise: (a) constitute a violation
of any law; or (b) result in or require the creation of any lien upon the Shares.

 

Section
2.03.Title to Shares. The Seller is the sole record and beneficial owner of the Shares of the Company’s common
stock owned by such Seller (defined herein as the “Seller’s Shares”) and has good and marketable
title to all of the Seller’s Shares, free and clear of any liens, claims, charges, options, rights of tenants or other encumbrances.
The Seller has sole managerial and dispositive authority with respect to the Seller’s Shares and has not granted any person
a proxy or option to buy the Seller’s Shares that has not expired or been validly withdrawn. The sale and delivery of the
Seller’s Shares to the Purchaser pursuant
to this Agreement will vest in the Purchaser the legal and valid title to the Seller’s Shares acquired by the Purchaser
hereunder, free and clear of all liens, security interests, adverse claims or other encumbrances of any character whatsoever,
except for those associated with the restricted nature of the securities (“Encumbrances”).

 

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Section
2.04. Brokers, Finders and Financial Advisors. No broker, finder or financial advisor has acted for the Seller in connection
with this Agreement or the transactions contemplated hereby, and no broker, finder or financial advisor is entitled to any broker’s,
finder’s or financial advisor’s fee or other commission in respect thereof based in any way on any contract with Seller.

 

ARTICLE
III

Representations
and Warranties of Purchaser

 

Subject
to all of the terms, conditions and provisions of this Agreement the Purchaser hereby represents and warrants to the Seller as
follows:

 

Section
3.01.Authority. The Purchaser has all requisite power and authority to execute and deliver this Agreement and to
consummate the transactions contemplated hereby. Purchaser has duly and validly executed and delivered this Agreement and, assuming
the due authorization, execution and delivery of this Agreement by the other Parties hereto, this Agreement constitutes the legal,
valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except as such
enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’
rights generally and general equitable principles.

 

Section
3.02.No Conflict. The execution and delivery by the Purchaser of this Agreement and the consummation of the transactions
contemplated hereby do not and shall not, by the lapse of time, the giving of notice or otherwise: (a) constitute a violation
of any law; or (b) constitute a breach of any provision contained in, or a default under, any governmental approval, any writ,
injunction, order, judgment or decree of any governmental authority or any contract to which the Purchaser is a party or by which
the Purchaser is bound or affected.

 

Section
3.03.Brokers, Finders and Financial Advisors. No broker, finder or financial advisor has acted for the Purchaser
in connection with this Agreement or the transactions contemplated hereby, and no broker, finder or financial advisor is entitled
to any broker’s, finder’s or financial advisor’s fee or other commission in respect thereof based in any way
on any contract with the Purchaser.

 

Section
3.04.Exempt Transaction. The Purchaser understands that the offering and sale of the Shares (the “Securities”)
is intended to be exempt from registration under the Securities Act and exempt from registration or qualification under any state
law.

 

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Section
3.05.Representations of Purchaser. The Purchaser hereby represents, acknowledges and warrants its representation
of, understanding of and confirmation of the following:

 

(a)  

Purchaser has such knowledge and experience in financial and business matters such that Purchaser is capable of evaluating the
merits and risks of an investment in the Securities and of making an informed investment decision, and does not require a representative
in evaluating the merits and risks of an investment in the Securities;

 

(b)  

The Purchaser realizes that the Securities cannot readily be sold as they will be restricted securities and therefore the Securities
must not be accepted unless the Purchaser has liquid assets sufficient to assure that the Purchaser can provide for current needs
and possible personal contingencies;

 

(c)  

The Purchaser confirms and represents that it is able (i) to bear the economic risk of the Securities, (ii) to hold the Securities
for an indefinite period of time, and (iii) to afford a complete loss of the Securities; and

 

(d)  

Purchaser understands and agrees that a legend has been or will be placed on any certificate(s) or other document(s) evidencing
the Securities in substantially the following form:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE
SECURITIES ACT. THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS
(I) THEY SHALL HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND ANY APPLICABLE STATE SECURITIES ACT, OR (II)
THE CORPORATION SHALL HAVE BEEN FURNISHED WITH AN OPINION OF COUNSEL, SATISFACTORY TO COUNSEL FOR THE CORPORATION, THAT REGISTRATION
IS NOT REQUIRED UNDER ANY SUCH ACTS.”

 

Section
3.06. U.S.A. Patriot Act Representations. The Purchaser hereby represents and warrants that it is not, nor is it
acting as an agent, representative, intermediary or nominee for, a person identified on the list of blocked persons maintained
by the Office of Foreign Assets Control, U.S. Department of Treasury. In addition, the Purchaser has complied with all applicable
U.S. laws, regulations, directives, and executive orders imposing economic sanctions, embargoes, export controls or anti-money
laundering requirements, including but not limited to the following laws: (1) the International Emergency Economic Powers Act,
50 U.S.C. 1701-1706; (2) the National Emergencies Act, 50 U.S.C. 1601-1651; (3) section 5 of the United Nations Participation
Act of 1945, 22 U.S.C. 287c; (4) Section 321 of the Antiterrorism Act, 18 U.S.C. 2332d; (5) the Export Administration Act of 1979,
as amended,
50 U.S.C. app. 2401-2420; (6) the Trading with the Enemy Act, 50 U.S.C. app. 1 et seq.; (7) the Uniting and Strengthening America
by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56; and (8) Executive
Order 13224 (Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism)
of September 23, 2001 (collectively the “Regulations”).

 

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ARTICLE
IV

Covenants

 

Section
4.01.Further Assurances. The Seller and Purchaser agree that, from time to time, whether before, at or after the
Closing, each of them will take such other action and to execute, acknowledge and deliver such contracts, deeds, or other documents
(a) as may be reasonably requested and necessary or appropriate to carry out the purposes and intent of this Agreement; or (b)
to effect or evidence the transfer to the Purchaser of the Shares held by or in the name of the Seller.

 

Section
4.02.Survival of Representations. All representations, warranties, and agreements made by any Party in this Agreement
or pursuant hereto shall survive the execution and delivery hereof and any investigation at any time made by or on behalf of any
Party.

 

ARTICLE
V

Conditions
to Closing

 

Section
5.01.Conditions to Obligations of Seller. The obligations of the Seller to consummate the transactions contemplated
hereby shall be subject to the fulfillment at or prior to the Closing Date of the following additional conditions, except as the
Seller may waive in writing:

 

(a)

The Purchaser shall have complied with and performed in all material respects all of
the terms, covenants, agreements and conditions contained in this Agreement which are required to be complied with and performed
on or prior to Closing;

 

(b)

The representations and warranties of the Purchaser in this Agreement shall have been
true and correct on the date hereof as applicable, and such representations and warranties shall be true and correct on and at
the Closing (except those, if any, expressly stated to be true and correct at an earlier date), with the same force and effect
as though such representations and warranties had been made on and at the Closing; and

 

(c)

The Purchaser shall have delivered the Purchase Price to the Seller as described in
Section 1.02 above.

 

 

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Section
5.02.Conditions to Obligations of Purchaser. The obligations of the Purchaser to consummate the transactions contemplated
hereby shall be subject to the fulfillment at or prior to Closing of the following additional conditions, except as the Purchaser
may waive in writing:

 

(a)

The Seller shall have complied with and performed in all material respects all of the
terms, covenants, agreements and conditions contained in this Agreement which are required to be complied with and performed on
or prior to Closing;

 

(b)  

The representations and warranties of Seller in this Agreement shall have been true and correct on the date hereof or thereof,
as applicable, and such representations and warranties shall be true and correct on and at the Closing (except those, if any,
expressly stated to be true and correct at an earlier date), with the same force and effect as though such representations and
warranties had been made on and at the Closing;

 

(c)  

The Seller shall have delivered the Share Materials to the Purchaser as described in Section 1.02 above; and

 

ARTICLE
VI

Miscellaneous

 

Section
6.01. Benefit and Burden. This Agreement shall inure to the benefit of, and shall be binding upon, the Parties
hereto and their successors and permitted assigns.

 

Section
6.02. No Third Party Rights. Nothing in this Agreement shall be deemed to create any right in any creditor or other
person not a Party hereto and this Agreement shall not be construed in any respect to be a contract in whole or in part for the
benefit of any third party; provided that the Company shall be able to rely on the representations and warranties of the Seller
and the Purchaser made in Articles II and III above for any and all purposes.

 

Section
6.03. Amendments and Waiver. No amendment, modification, restatement or supplement of this Agreement shall be valid
unless the same is in writing and signed by the Parties hereto. No waiver of any provision of this Agreement shall be valid unless
set forth in writing and signed by all Parties.

 

Section
6.04. Assignments. The Purchaser may assign any of its rights, interests and obligations under this Agreement prior
to Closing and must notify in advance the Seller in writing. Any assignee of the Purchaser must agree to the terms and conditions
hereof in total and execute an agreement in a similar form as this Agreement with the Seller.

 

Section
6.05. Severability. Should any clause, sentence, paragraph, subsection, Section or Article of this Agreement be
judicially declared to be invalid, unenforceable or void, such decision will not have the effect of invalidating or voiding the
remainder of this Agreement, and the parties agree that the part or parts of this Agreement so held to be invalid, unenforceable
or void will be deemed to have been stricken herefrom by the Parties,
and the remainder will have the same force and effectiveness as if such stricken part or parts had never been included herein.

 

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Section
6.06. Remedies. The Parties agree that the covenants and obligations contained in this Agreement relate to special,
unique and extraordinary matters and that a violation of any of the terms hereof or thereof would cause irreparable injury in
an amount which would be impossible to estimate or determine and for which any remedy at law would be inadequate. As such, the
Parties agree that if any Party fails or refuses to fulfill any of its obligations under this Agreement or to make any payment
or deliver any instrument required hereunder, then the other Party shall have the remedy of specific performance, which remedy
shall be cumulative and nonexclusive and shall be in addition to any other rights and remedies otherwise available under any other
contract or at law or in equity and to which such Party might be entitled.

 

Section
6.07. Applicable Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES
THEREOF.

 

Section
6.08. Submission to Jurisdiction. Each of the Parties hereby: (a) irrevocably submits to the non-exclusive personal
jurisdiction of any Florida court, over any claim arising out of or relating to this Agreement and irrevocably agrees that all
such claims may be heard and determined in such Florida court; and (b) irrevocably waives, to the fullest extent permitted by
applicable law, any objection it may now or hereafter have to the laying of venue in any proceeding brought in a Florida court.

 

Section
6.09. Expenses; Prevailing Party Costs. The Seller and the Purchaser shall pay their own expenses incident to this
Agreement and the transactions contemplated hereby. Notwithstanding anything contained herein to the contrary, if any Party commences
an action against another Party to enforce any of the terms, covenants, conditions or provisions of this Agreement, or because
of a breach by a Party of its obligations under this Agreement, the prevailing Party in any such action shall be entitled to recover
its losses, including reasonable attorneys’ fees, incurred in connection with the prosecution or defense of such action,
from the losing Party.

 

Section
6.10.Entire Agreement. This Agreement sets forth all of the promises, agreements, conditions, understandings, warranties
and representations among the Parties with respect to the transactions contemplated hereby, and supersedes all prior agreements,
arrangements and understandings between the Parties, whether written, oral or otherwise.

 

Section
6.11.Construction. When used in this Agreement, unless a contrary intention appears: (i) a term has the meaning
assigned to it; (ii) “or” is not exclusive; (iii) “including” means including
without limitation; (iv) words in the singular include the plural and words in the plural include the singular, and words importing
the masculine gender include the feminine and neuter genders; (v) any agreement, instrument or statute defined
or referred to herein or in any instrument or certificate delivered in connection herewith means such agreement, instrument or
statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references
to all attachments thereto and instruments incorporated therein; (vi) the words “hereof”, “herein”
and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement
as a whole and not to any particular provision hereof; (vii) references contained herein to Article, Section, Schedule and Exhibit,
as applicable, are references to Articles, Sections, Schedules and Exhibits in this Agreement unless otherwise specified; (viii)
references to “writing” include printing, typing, lithography and other means of reproducing words in
a visible form, including, but not limited to email; (ix) reference to a particular statute, regulation or law means such statute,
regulation or Law as amended or otherwise modified from time to time; (x) any definition of or reference to any agreement, instrument
or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time
amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set
forth herein); (xi) the paragraph and section headings contained in this Agreement are for convenience only, and shall in no manner
be construed as part of this Agreement; and (xii) references to “dollars”, “Dollars”
or “$” in this Agreement shall mean United States dollars.

 

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Section
6.12.Review and Construction of Documents. Seller represents to the Purchaser and the Purchaser represents to the
Seller, that (a) before executing this Agreement, said Party has fully informed itself of the terms, contents, conditions and
effects of this Agreement; (b) said Party has relied solely and completely upon its own judgment in executing this Agreement;
(c) said Party has had the opportunity to seek and has obtained the advice of its own legal, tax and business advisors before
executing this Agreement; (d) said Party has acted voluntarily and of its own free will in executing this Agreement; and (e) this
Agreement is the result of arm’s length negotiations conducted by and among the Parties and their respective counsel.

 

Section
6.13.Counterparts and Signatures. This Agreement and any signed agreement or instrument entered into in connection
with this Agreement, and any amendments hereto, may be executed in one or more counterparts, all of which shall constitute one
and the same instrument. Any such counterpart, to the extent delivered by means of a facsimile machine or by .pdf, .tif, .gif,
..jpeg or similar attachment to electronic mail (any such delivery, an “Electronic Delivery”) shall be
treated in all manner and respects as an original executed counterpart and shall be considered to have the same binding legal
effect as if it were the original signed version thereof delivered in person. At the request of any Party, the other Party shall
re-execute the original form of this Agreement and deliver such form to all other Parties. No Party shall raise the use of Electronic
Delivery to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through
the use of Electronic Delivery as a defense to the formation of a contract, and each such Party forever waives any such defense,
except to the extent such defense relates to lack of authenticity.

 

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

 

 

PURCHASER

 

Charcoal
Investment Ltd. 

 

By:
/s/ Graham Young

 

Its:
Director

 

Printed
Name: Graham Young

 

 

SELLER

 

Monaker
Group, Inc.

 

/s/
William Kerby

William
Kerby

CEO

 

 

 

    	 	Page 9 of 9 
 Stock Purchase AgreementExhibit 10.1

  

   

  

  
    

    

    TRANSITION SERVICES AGREEMENT

    THIS

          TRANSITION SERVICES AGREEMENT (the “Agreement”) is made effective as of November 30, 2018, 2018 (the “Effective Date”), by and between Gannett Co., Inc., a Delaware corporation (the “Company” and together with its affiliates within
        the meaning of Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934, as amended, the “Company Group”), and Robert J. Dickey (“Executive”).

    RECITALS

    WHEREAS,
        Executive currently serves as the President and Chief Executive Officer of the Company pursuant to an offer letter agreement dated as of June 2, 2015 (the “Offer Letter
            Agreement”); and

    WHEREAS,
        the Company and Executive (collectively, the “Parties”) each desire to enter into this Agreement to set forth the Parties’ agreement as to the transition of
        Executive’s position of President and Chief Executive Officer of the Company in connection with Executive’s cessation of employment with the Company and the hiring of an individual to succeed Executive as the chief executive officer of the Company
        (such individual, the “Successor Chief Executive Officer”).

    NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the Parties agree as follows:

    1.          Transition Date; Departure Date.  Executive’s employment with the Company Group shall cease effective as of May 7, 2019 or, if earlier, the date that the Successor
        Chief Executive Officer assumes office as such (such date, the “Transition Date”).  Notwithstanding the foregoing, nothing contained in this Agreement shall
        prohibit either Party from terminating the employment of Executive for any reason prior to the Transition Date (the date of termination of employment, whether on or before the Transition Date, the “Departure Date”).  Effective as of the Departure Date, Executive shall resign from all positions Executive holds as an officer or employee with respect to the Company Group and agrees to execute all further
        documents reasonably necessary or appropriate to further memorialize any or all such resignations.

    2.          Transition Period; Consulting Period.

    (a)          During the period commencing on the Effective Date and through and including the Departure Date (such period, the “Transition Period”),

        Executive agrees to continue in the employment of the Company as, and perform the duties of, President and Chief Executive Officer subject to and in accordance with the terms of the Offer Letter Agreement, except as otherwise provided in this
        Agreement, and also perform for the Company Group services related to transition matters as directed by the Company Board (the “Transition Services”).  In
        performing the Transition Services, Executive shall comply fully with all applicable laws and policies of the Company Group.  Executive acknowledges and agrees that, during the Transition Period, Executive shall not work on a full- or part-time
        basis for another person, firm or entity; provided, that Executive may manage personal and family investments, participate in industry organizations and deliver
        lectures at educational institutions, so long as such activities do not interfere with the performance of Executive’s responsibilities as President and Chief Executive Officer of the Company.

    (b)          Solely to the extent that Executive’s employment with the Company Group ceases effective as of the Transition Date, then, effective as of the day immediately following the

    

    

    
      

      
        

      
        

        

      

    

    
    Departure Date and through October 7, 2019 (such period, the “Consulting Period”), Executive shall be an independent contractor to the Company Group and, in such capacity, shall provide advisory services to the Successor Chief Executive Officer
        related to transition matters and such other services as reasonably requested by the Successor Chief Executive Officer and/or Company Board from time to time, subject to mutual agreement concerning time and place (the “Consulting Services”); provided, that, for the avoidance of doubt, it is understood that performing the
        Consulting Services may require the Executive to travel to the Company’s headquarters in McLean, Virginia or elsewhere up to four days per month as reasonably requested by the Successor Chief Executive Officer. During the Consulting Period, no
        member of the Company Group shall have the authority to, nor shall it, supervise, direct or control the manner, means, details or methods utilized by Executive to perform the Consulting Services.

    (c)          The Parties acknowledge and agree that, effective as of the Departure Date, Executive shall have experienced a “separation from service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as
        amended (“Section 409A”).  The Parties reasonably expect that the performance of the Consulting Services shall not require Executive to provide more than twenty
        percent (20%) of the average level of services rendered by Executive to the Company Group during the thirty-six (36) months immediately preceding the Departure Date.

    3.          Compensation.

    (a)          As consideration for the Transition Services and the portion, if any, of the Consulting Services rendered prior to May 7, 2019, from the period commencing on January 1, 2019 and through the Departure Date or, if
        later, provided Executive's employment is not terminated for Cause (as defined in Section 4) or if Executive does not voluntarily resign earlier, May 7, 2019, the Company shall provide Executive with monthly compensation in an amount equal to
        $435,000, which shall be paid in accordance with the payroll practices of the Company as in effect from time to time.

    (b)          As consideration for Consulting Services rendered following May 7, 2019 and through October 7, 2019, the Company shall provide Executive with a monthly consulting fee of $75,000 (the “Consulting Fee”).  The Consulting Fee shall be paid to Executive as soon as reasonably practicable, and in any event within fifteen (15) days, following the final business day of the month
        for which the Consulting Services were performed.  The Company Group shall not withhold any taxes from the Consulting Fee.  Executive acknowledges and agrees that Executive shall be solely responsible for the payment of all taxes with respect to
        the payment of the Consulting Fee.

    (c)          The Company Group shall reimburse Executive for Executive’s reasonable out-of-pocket expenses incurred in connection with the Consulting Services in accordance with the Company Group’s existing expense
        reimbursement procedures.

    (d)          Executive acknowledges and agrees that (i) following January 1, 2019, the compensation provided in Section 3(a) hereof shall be in lieu of Executive's annual base salary under the Offer Letter Agreement and (ii)
        following the Effective Date, Executive shall not be eligible to receive any further awards under any short- or long-term cash, equity- or equity-based incentive programs sponsored or maintained by the Company Group; provided, that, for the avoidance of doubt, Executive shall remain eligible to receive Executive's annual cash incentive award in respect of fiscal year 2018 in accordance with the terms
        of such annual cash incentive award.

    (e)          Notwithstanding any provision of this Agreement to the contrary, any employee benefits or other compensation to which Executive is entitled as of and/or by reason of the Departure Date under the employee benefit
        plans of the Company Group, including the Offer Letter Agreement and the Executive Severance Plan, as amended effective as of July 20, 2017 (the “Severance Plan”),
        shall be

    

    

    
      

      2

      
        

      
        

        

      

    

    treated in accordance with the terms of such plans; provided, that, for the avoidance of doubt, Executive shall not be eligible to receive a severance benefit under the Severance Plan to the extent that Executive’s employment with the Company Group
        ceases as of the Transition Date.

    4.          Retention Award.  Executive shall receive an amount in cash equal to $1,000,000, subject to Executive’s continued employment through the Transition Date or, if earlier,
        upon a termination of employment by the Company without Cause (the “Retention Award” and such date, the “Vesting Date”). To the extent earned, and subject to the execution and nonrevocation of the general release of claims attached hereto as Exhibit

            A not earlier than the Departure Date, the Retention Award shall become payable to Executive on the first regularly scheduled payroll date that occurs immediately following the sixty-first (61st) day following the Vesting Date but,
        in any event, no later than March 15 of the year following the year in which the Vesting Date occurs.

    For purposes of this Agreement:

    “Cause” shall mean the
        termination of Executive’s employment following the occurrence of any of the following events, each of which shall constitute a “Cause” for such termination: (i) embezzlement, fraud, misappropriation of funds, breach of fiduciary duty or other act
        of material dishonesty committed by Executive or at Executive’s direction; (ii) failure by Executive to perform adequately the duties of Executive’s position, as a result of neglect or refusal, that Executive does not remedy within thirty (30) days
        after receipt of written notice from the Company; (iii) violation of the Company’s employment policies by Executive; (iv) conviction of, or plea of guilty or nolo

          contendere by Executive to a felony or any crime involving moral turpitude; or (v) found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission (“SEC”) to have violated any Federal or State securities law.

    5.          Restrictive Covenants; Confidentiality.

    (a)          During the Transition Period and thereafter, Executive shall not, directly or indirectly, disclose or make available confidential information of the Company Group, except as required in the performance of
        Executive’s authorized duties to the Company Group.  Confidential information includes information that is marked confidential or otherwise identified or treated as confidential or proprietary, or that would appear to a reasonable person to be
        confidential or proprietary in the context and circumstances in which the information is known or used. 

    (b)          During the Transition Period and for twelve (12) months thereafter (the “Restricted Period”), Executive shall not, directly or
        indirectly, engage, or prepare to engage, in the business of media and marketing solutions in the United States.  Nothing in this Section 5(b) shall prohibit Executive from (i) performing his authorized duties to the Company Group, (ii) having a
        passive investment in less than five percent (5%) of the publicly traded securities of any corporation, or (iii) directly or indirectly participating in the business of a local media organization in Deschutes County, Oregon that produces a weekly
        publication and conducts local events and related projects.

    (c)          During the Restricted Period, Executive shall not, directly or indirectly, solicit, or attempt to solicit, any employee or current customer of the Company Group, except as required in the performance of Executive’s
        authorized duties to the Company Group.

    (d)          Pursuant to 18 U.S.C. § 1833(b), Executive hereby acknowledges that Executive shall not have criminal or civil liability under any federal or state trade secret law for the disclosure of a trade secret that (i) is
        made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (B) solely for the purpose of reporting or investigating a

    

    

    
      

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    suspected violation of law; or (ii) is made in a complaint or other document that is filed
        under seal in a lawsuit or other proceeding.  Executive understands that if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, he or she may disclose the trade secret to Executive’s attorney and use
        the trade secret information in the court proceeding if Executive (x) files any document containing the trade secret under seal, and (y) does not disclose the trade secret, except pursuant to court order.  Nothing in this Agreement or any other
        agreement by and between a member of the Company Group and Executive is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets expressly allowed by such section.  Further, nothing in this Agreement or any
        other agreement by and between a member of the Company Group and Executive shall prohibit or restrict Executive from (x) voluntarily communicating with any government agency, including the SEC, or any self-regulatory organization regarding possible
        violations of law, in each case without advance notice to the Company, (y) recovering a SEC whistleblower award as provided under Section 21F of the Securities Exchange Act of 1934, or (z) disclosing any confidential information to a court or other
        administrative or legislative body in response to a subpoena, provided that Executive first provides the Company Group with the opportunity to seek, and join in its efforts at the sole expense of the Company Group to obtain, a protective order
        limiting its disclosure.

    6.          Miscellaneous.

    (a)          Governing Law.  The validity, interpretation, construction, performance and enforcement of this Agreement shall be governed by the
        laws of the Commonwealth of Virginia, without application of any conflict of laws principles that would result in the application of the laws of any other jurisdiction.

    (b)          Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision
        shall not affect the validity or enforceability of the other provisions hereof.

    (c)          Successors and Assigns.  This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors and
        permitted assigns and the Company shall require any successor or assign to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession or
        assignment had taken place. The Company may not assign or delegate any rights or obligations hereunder except to a successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business
        and/or assets of the Company.  Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by Executive, Executive’s beneficiaries or legal representatives, except by will or by the laws of descent and
        distribution.  This Agreement shall inure to the benefit of and be enforceable by Executive’s legal personal representatives.

    (d)          Notice. For the purposes of this Agreement, notices and all other communications shall be in writing and shall be deemed to have
        been duly given when personally delivered or sent by certified mail, return receipt requested, postage prepaid, addressed to the respective addresses last given by one Party to another Party or, if none, in the case of the Company, to the Company’s
        headquarters directed to the attention of the Company’s General Counsel and, in the case of the Executive, to the most recent address shown in the personnel records of the Company or another member of the Company Group.  All notices and
        communications shall be deemed to have been received on the date of delivery thereof.

    (e)          Entire Agreement; Certain Acknowledgements.  This Agreement contains the entire agreement of the Parties with respect to the
        subject matter hereof and supersedes all prior agreements, if any, understandings and arrangements, oral or written, between or among any member of

    

    

    
      

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    the Company Group and Executive with respect to the subject matter hereof; provided, that, except as otherwise provided in this Agreement, the Offer Letter Agreement and the Severance Plan shall continue in accordance with their terms
        following the Effective Date.  Executive acknowledges that Executive has read and understands this Agreement, is fully aware of its legal effect, has not acted in reliance upon any representations or promises made by the Company other than those
        contained in writing herein, and has entered into this Agreement freely based on Executive’s own judgment.  Executive acknowledges that Executive has had the opportunity to consult with legal counsel of Executive’s choice in connection with the
        drafting, negotiation and execution of this Agreement.

    (f)          Headings. The headings and captions in this Agreement are provided for reference and convenience only, shall not be considered
        part of this Agreement, and shall not be employed in the construction of this Agreement.

    (g)          Construction. This Agreement shall be deemed drafted equally by both the Parties, and any presumption or principle that the
        language is to be construed against either Party shall not apply.

    (h)          Counterparts.  This Agreement may be executed in several counterparts, each of which is an original and all of which shall
        constitute one instrument. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.

    (i)          Withholding.  The Company shall be entitled to withhold (or to cause the withholding of) the amount, if any, of all taxes of any
        applicable jurisdiction required to be withheld by an employer with respect to any amount paid to Executive hereunder. The Company, in its sole and absolute discretion, shall make all determinations as to whether it is obligated to withhold any
        taxes hereunder and the amount thereof.

    (j)          Section 409A.  The Parties intend for the payments and benefits under this Agreement to be exempt from Section 409A or, if not so
        exempt, to be paid or provided in a manner which complies with the requirements of such section, and intend that this Agreement shall be construed and administered in accordance with such intention.  If any payments or benefits due to the Executive
        hereunder would cause the application of an accelerated or additional tax under Section 409A, such payments or benefits shall be restructured in a manner which does not cause such an accelerated or additional tax.  For purposes of the limitations
        on nonqualified deferred compensation under Section 409A, each payment of compensation under this Agreement shall be treated as a separate payment of compensation.  Without limiting the foregoing and notwithstanding anything contained herein to the
        contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month
        period immediately following the Executive’s separation from service shall instead be paid on the first business day after the date that is six months following the Executive’s termination date (or death, if earlier).

    

    

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

    

    

    	 	
            GANNETT CO, INC.

          
	 	 
	 	 
	 	
            By:   

              

          	
            /s/ John Jeffry Louis

          
	 	 	
            Name:   

              

          	
            John Jeffry Louis

          
	 	 	
            Title:

          	
            Chairman of the Board

          
	 	 	 	 
	 	 	 	 
	 	
            EXECUTIVE

          
	 	 	 	 
	 	 	 	 
	 	
            /s/ Robert J. Dickey

          
	 	
            ROBERT J. DICKEY

          

    

    

    
      
        [Transition Services Agreement]

        

        

      

      
        

      
        

        

      

    

    
    

    

    EXHIBIT A

    RELEASE OF CLAIMS

    This Release of Claims (the “Release of Claims”) by Robert J. Dickey (“Executive”) is attached to the Transition Services Agreement, by and among Gannett Co.,
        Inc., a Delaware corporation (the “Company”), and Executive, dated as of November 30, 2018 (the “Transition Services Agreement”).  Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Transition Services Agreement.

    
      
        	

              	1.	
                Release.

              

      

    

    (a)          Executive, on
        behalf of Executive and Executive’s heirs, executors, administrators, successors and assigns, hereby irrevocably and unconditionally releases the Releasees (as defined in Section 1(c) below) from any and all claims, charges, liabilities, causes of
        action, rights, complaints, sums of money, suits, debts, covenants, contracts, agreements, promises, benefits, obligations, damages, demands or liabilities of every nature, kind and description, in law, equity or otherwise, whether known or
        unknown, suspected or unsuspected (collectively, “Claims”) which Executive or Executive’s heirs, executors, administrators, successors or assigns ever had, now has
        or may hereafter claim to have by reason of any matter, cause or thing whatsoever: (i) arising from the beginning of time through the date upon which Executive signs this Release including, but not limited to (A) any such Claims relating in any way
        to Executive’s employment with the Company or any of the other Releasees, and (B) any such Claims arising under any federal, state, local or foreign statute or regulation or common law, including, without limitation, Title VII of the Civil Rights
        Act of 1964, the Age Discrimination in Employment Act (ADEA), the Older Workers Benefit Protection Act, the Americans with Disabilities Act of 1990, the Executive Retirement Income Security Act of 1974, the Civil Rights Act of 1991, the Equal Pay
        Act, the Immigration and Reform Control Act, the Uniformed Services Employment and Re-Employment Act, the Rehabilitation Act of 1973 and Executive Order 11246, and any other federal, state, local or foreign law (statutory, regulatory, common law,
        or otherwise) that may be legally waived and released; (ii) arising out of or relating to the termination of Executive’s employment with the Company or any of the other Releasees; or (iii) arising under or relating to any policy, agreement, plan,
        understanding or promise, written or oral, formal or informal, between the Company or any of the other Releasees and Executive.  It is further understood and agreed that, notwithstanding any statute or common law principle, and for the purpose of
        implementing a full and complete release and discharge of all claims, Executive expressly acknowledges that this release is intended to include in its effect, without limitation, all Claims which Executive does not know or suspect to exist in
        Executive’s favor at the time of execution hereof, and that the release agreed upon herein contemplates the full extinguishment of Executive’s Claims.

    (b)          Notwithstanding
        the foregoing, the Company and Executive recognize that nothing contained in this Section 1 shall in any way release or discharge:  (i) Executive’s right to bring any Claim that cannot be waived under applicable law; (ii) Executive’s right to
        enforce, or bring any Claim for breach of, the Transition Services Agreement; (iii) Executive’s right to any vested benefits to which Executive may be entitled under any retirement or pension plan of the Company or its subsidiaries, as applicable;
        or (iv) Executive’s right to bring any Claim for indemnification under any applicable directors and officers liability insurance policy or applicable state or federal law, as applicable (the “Excluded Claims”).  Executive acknowledges and agrees that, except with respect to the Excluded Claims, the Releasees have fully satisfied any and all obligations whatsoever owed to Executive arising

    

    

    
      
        

        

      

      Ex. A – 1

      
        

      
        

        

      

    

    out of his or her employment with the Company or any other Releasee, and that no further payments or benefits are owed to
        Executive by the Company or any other Releasee.

    (c)          For purposes of this Release, “Releasees” shall mean (i) the Company and all other members of the Company Group, and all of their respective predecessors, successors and assigns, and (ii) all past and
          present owners, investors, shareholders, trustees, directors, officers, partners, members, employees, agents, attorneys and representatives of each of the entities referenced in this Section 1(c) and each of their respective predecessors,
          successors, estates, heirs and assigns.

    
      
        
          	

                	2.	
                  
                    Consideration and Revocation.

                  

                

        

      

       

    
       

    

    (a)          Executive

        acknowledges that the Releasees have advised Executive to consult with an attorney of Executive’s own choosing prior to executing this Release of Claims.  Executive represents that Executive has had the opportunity to review this Release of Claims
        with an attorney of Executive’s choosing.  Executive also agrees and acknowledges that Executive is receiving benefits and payments to which Executive would not otherwise be entitled unless Executive signs this Release of Claims, that Executive has
        voluntarily consented to this Release of Claims and that Executive has entered into this Release of Claims freely, knowingly and voluntarily.

    (b)          Executive

        has forty-five (45) calendar days to consider the terms of this Release of Claims.  However, Executive may sign and return this Release of Claims before the expiration of the forty-five (45) calendar day period.  Executive agrees that changes to
        this Release of Claims, whether material or immaterial, will not restart the running of the forty-five (45) calendar day period.  Once signed, Executive will have seven (7) additional calendar days from the date that Executive signs this Release of
        Claims to revoke Executive’s consent.  Such revocation must be in writing and must be addressed and sent via [________] as follows: [______].  This Release of Claims will not become effective until the eighth (8th) calendar day after the date on
        which Executive executes it.  If Executive revokes Executive’s consent within such seven (7) calendar day period, this Release of Claims shall be of no force or effect and Executive shall have no right to any the payments or benefits as set forth
        in Section 3 of the Transition Services Agreement.

    3.          No Admission.  This Release of Claims does not constitute an admission of liability or wrongdoing by Executive or the Releasees.

    4.          No Waiver.  A failure of any of the Releasees to insist on strict compliance with any provision of this Release of Claims shall not be deemed a waiver of such provision
        or any other provision hereof.  If any provision of this Release of Claims is determined to be so broad as to be unenforceable, such provision shall be interpreted to be only so broad as is enforceable, and in the event that any provision is
        determined to be entirely unenforceable, such provision shall be deemed severable, such that all other provisions of this Release of Claims shall remain valid and binding.

    5.          Entire Agreement.  This Release of Claims contains the entire agreement between the Company and Executive relating to the matters contained herein and amends,
        supersedes and restates all prior agreements and understandings, oral or written, between the Company and Executive with respect to the subject matter hereof.

    6.          Governing Law.  The validity, interpretation, construction, performance and enforcement of this Release of Claims shall be governed by the laws of the Commonwealth of
        Virginia, without application of any conflict of laws principles that would result in the application of the laws of any other jurisdiction.

    [Signature Page Follows] 

    
      
        

        

      

      Ex. A – 2

      
        

      
        

        

      

    

    

    

    PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

    	
            ACKNOWLEDGED AND AGREED:

             

              

             

              

          	 	 	 
	 	 	 	 
	
            Robert J. Dickey

          	 	
            Date

          	 

    

    

    

    

    
      Ex. A – 3

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