Document:

EX-10.1

 Exhibit 10.1 

WAITR HOLDINGS INC. 

AMENDED AND RESTATED 

2018 OMNIBUS INCENTIVE PLAN 

Section 1.     General. 

The name of the Plan is the Waitr Holdings Inc. Amended and Restated 2018 Omnibus Incentive Plan (the “Plan”). The Plan
intends to: (i) encourage the profitability and growth of the Company through short-term and long-term incentives that are consistent with the Company’s objectives; (ii) give Participants an incentive for excellence in
individual performance; (iii) promote teamwork among Participants; and (iv) give the Company a significant advantage in attracting and retaining key Employees, Directors, and Consultants. To accomplish such purposes, the Plan
provides that the Company may grant Options, Stock Appreciation Rights, Restricted Shares, Restricted Stock Units, Performance-Based Awards (including performance-based Restricted Shares and Restricted Stock Units), Other Stock-Based Awards, Other Cash-Based Awards or any combination of the foregoing. 

Section 2.     Definitions. 

For purposes of the Plan, the following terms shall be defined as set forth below: 

(a)    “Administrator” means the Board, or, if and to the extent the Board does not administer the Plan,
the Committee appointed by the Board to administer the Plan in accordance with Section 3 of the Plan. 

(b)    “Affiliate” means a Person that directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, the Person specified. An entity shall be deemed an Affiliate of the Company for purposes of this definition only for such periods as the requisite ownership or control relationship is
maintained. 
 (c)    “Automatic Exercise Date” means, with respect to a Stock Appreciation Right, the
last business day of the applicable term of the Stock Appreciation Right pursuant to Section 8(i). 

(d)    “Award” means any Option, Stock Appreciation Right, Restricted Share, Restricted Stock Unit,
Performance-Based Award, Other Stock-Based Award, or Other Cash-Based Award granted under the Plan. 

(e)    “Award Agreement” means any agreement, contract, or other instrument or document evidencing an
Award. Evidence of an Award may be in written or electronic form, may be limited to notation on the books and records of the Company and, with the approval of the Administrator, need not be signed by a representative of the Company or a Participant.
Any Shares that become deliverable to the Participant pursuant to the Plan may be issued in certificate form in the name of the Participant or in book-entry form in the name of the Participant. 

(f)    “Bylaws” means the bylaws of the Company, as may be amended and/or restated from time to time.

 (g)    “Beneficial Owner” (or any variant thereof) has the meaning defined in Rule 13d-3 under the Exchange Act. 
 (h)    “Board” means the
Board of Directors of the Company. 
 (i)    “Cause” shall have the meaning assigned to such term in
any Company or Affiliate employment, severance, or similar agreement or Award Agreement with the Participant or, if no such agreement exists or the agreement does not define “Cause,” Cause means (i) any conduct, action or
behavior by a Participant, whether or not in connection with the Participant’s employment, including, without limitation, the commission of any felony or a lesser crime involving dishonesty, fraud, misappropriation, theft, wrongful taking of
property, embezzlement, bribery, forgery, extortion or other crime of moral turpitude, that has or may reasonably be 

 
expected to have a material adverse effect on the reputation or business of the Company, its Subsidiaries and Affiliates or which results in gain or personal enrichment of the Participant to the
detriment of the Company, its Subsidiaries and Affiliates; (ii) a governmental authority has prohibited the Participant from working or being affiliated with the Company, its Subsidiaries and Affiliates or the business conducted thereby;
(iii) the commission of any act by the Participant of gross negligence or malfeasance, or any willful violation of law, in each case, in connection with the Participant’s performance of his or her duties with the Company or a
Subsidiary or Affiliate thereof; (iv) performance of the Participant’s duties in an unsatisfactory manner after a written warning and a ten (10) day opportunity to cure or failure to observe material policies generally
applicable to employees after a written warning and a ten (10) day opportunity to cure; (v) breach of the Participant’s duty of loyalty to the Company Group; (vi) chronic absenteeism; (vii) substance
abuse, illegal drug use, or habitual insobriety; or (viii) violation of obligations of confidentiality to any third party in the course of providing services to the Company, its Subsidiaries and Affiliates. 

(j)    “Certificate of Incorporation” means the certificate of incorporation of the Company, as may be
amended and/or restated from time to time. 
 (k)    “Change in Capitalization” means any
(i) merger, consolidation, reclassification, recapitalization, spin-off, spin-out, repurchase or other reorganization or corporate transaction or event,
(ii) extraordinary dividend (whether in the form of cash, Common Stock or other property), stock split or reverse stock split, (iii) combination or exchange of shares, (iv) other change in corporate structure, or
(v) payment of any other distribution, which, in any such case, the Administrator determines, in its sole discretion, affects the Shares such that an adjustment pursuant to Section 5 of the Plan is appropriate. 

(l)    “Change in Control” shall be deemed to have occurred if an event set forth in any one of the
following paragraphs shall have occurred following the Effective Date: 
 (i)    any Person, other than
the Company or a trustee or other fiduciary holding securities under an employee benefit plan of the Company, becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the
combined voting power of the Company’s then outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a transaction described in clause (A) of paragraph (iii) below or any
acquisition directly from the Company; or 
 (ii)    the following individuals cease for any reason to
constitute a majority of the number of Directors then serving on the Board: individuals who, during any period of two (2) consecutive years, constitute the Board and any new Director (other than a Director whose initial assumption of office is
in connection with an actual or threatened election contest, including, but not limited to, a consent solicitation, relating to the election of Directors of the Company) whose appointment or election by the Board or nomination for election by the
Company’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of
the Directors then still in office who either were Directors at the beginning of the two (2) year period or whose appointment, election or nomination for election was previously so approved or recommended; or 

(iii)    there is consummated a merger or consolidation of the Company or any Subsidiary thereof with any
other corporation, other than a merger or consolidation (A) that results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into
voting securities of the surviving entity) at least fifty percent (50%) of the combined voting power of the voting securities of the Company (or such surviving entity or, if the Company or the entity surviving such merger is then a subsidiary, the
ultimate parent thereof) outstanding immediately after such merger or consolidation, and (B) immediately following which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the Board of the
entity surviving such merger or consolidation or, if the Company or the entity surviving such merger is then a subsidiary, the ultimate parent thereof; or 

(iv)    the consummation of a plan of complete liquidation or dissolution of the Company or there is
consummated an agreement for the sale or disposition by the Company of all or substantially all of the 

 
Company’s assets, other than (A) a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least fifty percent (50%) of the
combined voting power of the voting securities of which are owned directly or indirectly by stockholders of the Company following the completion of such transaction in substantially the same proportions as their ownership of the Company immediately
prior to such sale or (B) a sale or disposition of all or substantially all of the Company’s assets immediately following which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the
board of directors of the entity to which such assets are sold or disposed or, if such entity is a subsidiary, the ultimate parent thereof. 

For each Award that constitutes deferred compensation under Code Section 409A, a Change in Control (where applicable) shall be deemed to
have occurred under the Plan with respect to such Award only if a change in the ownership or effective control of the Company or a change in ownership of a substantial portion of the assets of the Company shall also constitute a “change in
control event” under Code Section 409A. 
 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to
have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the holders of Common Stock immediately prior to such transaction or series of transactions continue to have
substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 

(m)    “Change in Control Price” shall have the meaning set forth in Section 12 of the Plan. 

(n)    “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor
thereto. Any reference in the Plan to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations or guidance. 

(o)    “Committee” means any committee or subcommittee the Board may appoint to administer the Plan.
Subject to the discretion of the Board, the Committee shall be composed entirely of individuals who meet the qualifications of a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act and any other qualifications required by the applicable stock exchange on which the Common Stock is traded. If at any time or to any extent the Board shall not administer the
Plan, then the functions of the Administrator specified in the Plan shall be exercised by the Committee. Except as otherwise provided in the Company’s Certificate of Incorporation or Bylaws, or any charter establishing the Committee, any action
of the Committee with respect to the administration of the Plan shall be taken by a majority vote at a meeting at which a quorum is duly constituted or unanimous written consent of the Committee’s members. 

(p)    “Common Stock” means the common stock, par value $0.0001 per share, of the Company. 

(q)    “Company” means Waitr Holdings Inc., a Delaware corporation (or any successor corporation, except
as the term “Company” is used in the definition of “Change in Control” above). 

(r)    “Consultant” means any consultant or independent contractor of the Company or an Affiliate
thereof, in each case, who is not an Employee, Executive Officer, or non-employee Director. 

(s)    “Disability” shall have the meaning assigned to such term in any individual employment, severance
or similar agreement or Award Agreement with the Participant or, if no such agreement exists or the agreement does not define “Disability,” Disability means, with respect to any Participant, that such Participant (i) 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 (ii) is, 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, receiving income
replacement benefits for a period of not less than three (3) months under an accident and health plan covering Employees of the Company or an Affiliate thereof. 

 (t)    “Director” means any individual who is a member
of the Board on or after the Effective Date. 
 (u)    “Effective Date” shall have the meaning set
forth in Section 19 of the Plan. 
 (v)    “Eligible Recipient” means: (i) an
Employee; (ii) a non-employee Director; or (iii) a Consultant, in each case, who has been selected as an eligible recipient under the Plan by the Administrator. Notwithstanding the
foregoing, to the extent required to avoid the imposition of additional taxes under Code Section 409A, “Eligible Recipient” means: an (1) Employee; (2) a non-employee
Director; or (3) a Consultant, in each case, of the Company or a Subsidiary thereof, who has been selected as an eligible recipient under the Plan by the Administrator. 

(w)    “Employee” shall mean an employee of the Company or an Affiliate thereof, as described in Treasury
Regulation Section 1.421-1(h), including an Executive Officer or Director who is also treated as an employee. 

(x)    “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 

(y)    “Executive Officer” means each Participant who is an executive officer (within the meaning of Rule
3b-7 under the Exchange Act) of the Company. 
 (z)    “Exercise
Price” means, with respect to any Award under which the holder may purchase Shares, the price per share at which a holder of such Award granted hereunder may purchase Shares issuable upon exercise of such Award. 

(aa)    “Fair Market Value” as of a particular date shall mean: (i) if the Common Stock is
admitted to trading on a national securities exchange, the fair market value of a Share on any date shall be the closing sale price reported for such share on such exchange on such date or, if no sale was reported on such date, on the last day
preceding such date on which a sale was reported; (ii) if the Shares are not then listed on a national securities exchange, the average of the highest reported bid and lowest reported asked prices for the Shares as reported by the
National Association of Securities Dealers, Inc. Automated Quotations System or such other quotation system for the last preceding date on which there was a sale of such stock ; or (iii) if the Shares are not then listed on a
national securities exchange or traded in an over-the-counter market or the value of such Shares is not otherwise determinable, such value as determined by the Committee
in good faith and in a manner not inconsistent with Code Section 409A. 
 (bb)    “Free Standing
Rights” shall have the meaning set forth in Section 8(a) of the Plan. 
 (cc)    “Incentive Stock
Option” means an Option that is intended to satisfy the requirements applicable to an “incentive stock option” described in Code Section 422. 

(dd)    “Nonqualified Stock Option” means an Option that is not intended to be an Incentive Stock Option.

 (ee)    “Option” means an option to purchase Shares granted pursuant to Section 7 of the Plan.

 (ff)    “Original Effective Date” shall have the meaning set forth in Section 19 of the Plan.

 (gg)    “Other Cash-Based Award” means a cash Award granted to a Participant under Section 11
of the Plan, including cash awarded as a bonus or upon the attainment of Performance Goals or otherwise as permitted under the Plan. 

(hh)    “Other Stock-Based Award” means a right or other
interest granted to a Participant under the Plan that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Common Stock, including, but not limited to, unrestricted Shares or dividend
equivalents, each of which may be subject to the attainment of Performance Goals or a period of continued employment or other terms or conditions as permitted under the Plan. 

 (ii)    “Outstanding Shares” means the then outstanding
shares of Common Stock of the Company, taking into account as outstanding for this purpose such Common Stock issuable upon the exercise of options or warrants, the conversion of convertible stock or debt, and the exercise of any similar right to
acquire such Common Stock. 
 (jj)    “Participant” means any Eligible Recipient selected by the
Administrator, pursuant to the Administrator’s authority provided for in Section 3 of the Plan, to receive grants of Options, Stock Appreciation Rights, Restricted Shares, Restricted Stock Units, Other
Stock-Based Awards, Other Cash-Based Awards or any combination of the foregoing, and, upon his or her death, his or her successors, heirs, executors and administrators, as the case may be, solely with respect
to any Awards outstanding at the date of the Eligible Recipient’s death. 
 (kk)    “Performance-Based
Award” means any Award granted under the Plan that is subject to one or more performance goals. Any dividends or dividend equivalents payable or credited to a Participant with respect to any unvested Performance-Based Award shall be subject
to the same performance goals as the Shares or units underlying the Performance-Based Award. 

(ll)    “Performance Goals” means performance goals based on one or more of the following criteria:
(i) earnings before interest and taxes; (ii) earnings before interest, taxes, depreciation and amortization; (iii) net operating profit after tax; (iv) cash flow; (v) revenue; (vi)
net revenues; (vii) sales; (viii) days sales outstanding; (ix) scrap rates; (x) income; (xi) net income; (xii) operating income; (xiii) net operating income;
(xiv) operating margin; (xv) earnings; (xvi) earnings per share; (xvii) return on equity; (xviii) return on investment; (xix) return on capital; (xx) return on assets;
(xxi) return on net assets; (xxii) total shareholder return; (xxiii) economic profit; (xxiv) market share; (xxv) appreciation in the fair market value, book value or other measure of value
of the Company’s Common Stock; (xxvi) expense or cost control; (xxvii) working capital; (xxviii) volume or production; (xxix) new products; (xxx) customer satisfaction;
(xxxi) brand development; (xxxii) employee retention or employee turnover; (xxxiii) employee satisfaction or engagement; (xxxiv) environmental, health or other safety goals;
(xxxv) individual performance; (xxxvi) strategic objective milestones; (xxxvii) days inventory outstanding; and (xxxviii) any combination of, or as applicable, a specified increase or decrease in, any
of the foregoing. Where applicable, the Performance Goals may be expressed in terms of attaining a specified level of the particular criteria or the attainment of a percentage increase or decrease in the particular criteria, and may be applied to
one or more of the Company or an Affiliate thereof, or a division or strategic business unit of the Company, or may be applied to the performance of the Company relative to a market index, a group of other companies or a combination thereof, all as
determined by the Committee. The Performance Goals may include a threshold level of performance below which no payment shall be made (or no vesting shall occur), levels of performance at which specified payments shall be made (or specified vesting
shall occur), and a maximum level of performance above which no additional payment shall be made (or at which full vesting shall occur). 

(mm)    “Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified
and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (i) the Company or any Subsidiary thereof, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the
Company or any Subsidiary thereof, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of stock of the Company. 
 (nn)    “Related
Rights” shall have the meaning set forth in Section 8(a) of the Plan. 
 (oo)    “Restricted
Shares” means an Award of Shares granted pursuant to Section 9 of the Plan subject to certain restrictions that lapse at the end of a specified period or periods. 

(pp)    “Restricted Stock Unit” means a notional account established pursuant to an Award granted to a
Participant, as described in Section 10 of the Plan, that is (i) valued solely by reference to Shares, (ii) subject to restrictions specified in the Award Agreement, and (iii) payable in cash or in Shares (as
specified in the Award Agreement). The Restricted Stock Units awarded to the Participant will vest according to the time-based criteria or performance goals criteria specified in the Award Agreement. 

 (qq)    “Restricted Period” means the period of time
determined by the Administrator during which an Award or a portion thereof is subject to restrictions or, as applicable, the period of time within which performance is measured for purposes of determining whether an Award has been earned. 

(rr)    “Retirement” means a termination of a Participant’s employment, other than for Cause and
other than by reason of death or Disability, on or after the attainment of age 65. 
 (ss)    “Rule 16b-3” shall have the meaning set forth in Section 3(a) of the Plan. 

(tt)    “Shares” means shares of Common Stock reserved for issuance under the Plan, as adjusted pursuant
to the Plan, and any successor (pursuant to a merger, consolidation or other reorganization) security. 

(uu)    “Stock Appreciation Right” means the right pursuant to an Award granted under Section 8 of
the Plan to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over
(ii) the aggregate Exercise Price of such Award or such portion thereof. 

(vv)    “Subsidiary” means, with respect to any Person, as of any date of determination, any other Person
as to which such first Person owns or otherwise controls, directly or indirectly, more than fifty percent (50%) of the voting shares or other similar interests or a sole general partner interest or managing member or similar interest of such other
Person. An entity shall be deemed a Subsidiary of the Company for purposes of this definition only for such periods as the requisite ownership or control relationship is maintained. Notwithstanding the foregoing, in the case of an Incentive Stock
Option or any determination relating to an Incentive Stock Option, “Subsidiary” means a corporation that is a subsidiary of the Company within the meaning of Code Section 424(f). 

(ww)    “Substitute Award” shall mean an Award granted under the Plan upon the assumption of, or in
substitution for, outstanding equity awards granted by a company or other entity in connection with a corporate transaction, such as a merger, combination, consolidation, or acquisition of property or stock; provided, however, that in no event shall
the term “Substitute Award” be construed to refer to an award made in connection with the cancellation and repricing of an Option or Stock Appreciation Right. 

Section 3.     Administration. 

(a)    The Plan shall be administered by the Administrator and shall be administered in accordance with, to the extent
applicable, Rule 16b-3 under the Exchange Act (“Rule 16b-3”). 

(b)    Pursuant to the terms of the Plan, the Administrator, subject, in the case of any Committee, to any restrictions on
the authority delegated to it by the Board, shall have the power and authority, without limitation: 

(i)    to select those Eligible Recipients who shall be Participants; 

(ii)    to determine whether and to what extent Options, Stock Appreciation Rights, Restricted Shares,
Restricted Stock Units, Other Stock-Based Awards, Other Cash-Based Awards or a combination of any of the foregoing, are to be granted hereunder to Participants; 

(iii)    to determine the number of Shares to be covered by each Award granted hereunder; 

(iv)    to determine the terms and conditions, not inconsistent with the terms of the Plan, of each Award
granted hereunder, including, but not limited to, (A) the restrictions applicable to Restricted Shares and Restricted Stock Units and the conditions under which restrictions applicable to such Restricted Shares and Restricted Stock Units
shall lapse, (B) the Performance Goals and periods applicable to Awards, if any, (C) the Exercise Price of each Award, (D) the vesting schedule applicable to each Award, (E) the number of Shares
subject to each Award and (F) subject to the requirements of Code Section 409A (to the extent applicable), any amendments to the terms and conditions of outstanding Awards, including, but not limited to, extending the exercise
period of such Awards and accelerating the vesting schedule of such Awards; 

 (v)    to determine the terms and conditions, not
inconsistent with the terms of the Plan, which shall govern all written instruments evidencing Options, Stock Appreciation Rights, Restricted Shares, Restricted Stock Units or Other Stock-Based Awards, Other
Cash-Based Awards or any combination of the foregoing granted hereunder; 
 (vi)    to determine the Fair
Market Value; 
 (vii)    to determine the duration and purpose of leaves of absence which may be granted
to a Participant without constituting termination of the Participant’s employment for purposes of Awards granted under the Plan; 

(viii)    to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan
as it shall from time to time deem advisable; 
 (ix)    to reconcile any inconsistency in, correct any
defect in and/or supply any omission in the Plan, any Award Agreement or other instrument or agreement relating to the Plan or an Award granted under the Plan; and 

(x)    to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan
(and any Award Agreement relating thereto), and to otherwise supervise the administration of the Plan and to exercise all powers and authorities either specifically granted under the Plan or necessary and advisable in the administration of the Plan.

 (c)    The Administrator shall have the right, from time to time, to delegate to one or more officers of the Company
the authority of the Administrator to grant and determine the terms and conditions of Awards granted under the Plan, subject to the requirements of state law and such other limitations as the Administrator shall determine. In no event shall any such
delegation of authority be permitted with respect to Awards to any members of the Board or to any Eligible Recipient who is subject to Rule 16b-3 under the Exchange Act or Section 162(m) of the Code. The
Administrator shall also be permitted to delegate, to any appropriate officer or employee of the Company, responsibility for performing certain ministerial functions under the Plan. If the Administrator’s authority is delegated to officers or
employees in accordance with the foregoing, all provisions of the Plan relating to the Administrator shall be interpreted in a manner consistent with the foregoing by treating any such reference as a reference to such officer or employee for such
purpose. Any action undertaken in accordance with the Administrator’s delegation of authority hereunder shall have the same force and effect as if such action was undertaken directly by the Administrator and shall be deemed for all purposes of
the Plan to have been taken by the Administrator. 
 (d)    All decisions made by the Administrator pursuant to the
provisions of the Plan shall be final, conclusive, and binding on all persons, including the Company and the Participants. No member of the Board or the Committee, or any officer or employee of the Company or any Subsidiary thereof acting on behalf
of the Board or the Committee, shall be personally liable for any action, omission, determination, or interpretation taken or made in good faith with respect to the Plan, and all members of the Board or the Committee and each and any officer or
employee of the Company and of any Subsidiary thereof acting on their behalf shall, to the maximum extent permitted by law, be fully indemnified and protected by the Company in respect of any such action, omission, determination or interpretation.

 Section 4.     Shares Reserved for Issuance Under the Plan. 

(a)    Subject to Section 5 of the Plan, the number of Shares that are reserved and available for issuance pursuant to
Awards granted under the Plan is 25,430,736 shares of Common Stock. The maximum number of Shares that may be issued pursuant to Options intended to be Incentive Stock Options is 25,430,736 shares of Common Stock. 

(b)    The aggregate number of Shares reserved for Awards under the Plan will automatically increase on January 1st of each year, for a period of not more than ten (10) years, commencing on January 1st of the year following the year in which the
Effective Date occurs and ending on (and including) January 1, 2030, in an 

 
amount equal to five percent (5%) of the total number of Outstanding Shares on December 31st of the preceding calendar year.
Notwithstanding the foregoing, the Administrator may act prior to January 1st of a given year to provide that there will be no January
1st increase for such year or that the increase for such year will be a lesser number of Shares than provided herein. 

(c)    Notwithstanding the foregoing, the maximum number of Shares subject to Awards granted during any fiscal year to any
non-employee Director, when taken together with any cash fees paid to such non-employee Director during the fiscal year in respect of his or her service as a Director,
shall not exceed $750,000 in total value (calculating the value of any such Awards based on the grant date Fair Market Value of such Awards for financial reporting purposes). 

(d)    Shares issued under the Plan may, in whole or in part, be authorized but unissued Shares or Shares that shall have
been or may be reacquired by the Company in the open market, in private transactions or otherwise. Any Shares subject to an Award under the Plan that, after the Original Effective Date, are forfeited, canceled, settled or otherwise terminated
without a distribution of Shares to a Participant will thereafter be deemed to be available for Awards. In applying the immediately preceding sentence, if (i) Shares otherwise issuable or issued in respect of, or as part of, any Award
are withheld to cover taxes, such Shares shall be treated as having been issued under the Plan and shall not again be available for issuance under the Plan, (ii) Shares otherwise issuable or issued in respect of, or as part of, any Award
of Options or Stock Appreciation Rights are withheld to cover the Exercise Price, such Shares shall be treated as having been issued under the Plan and shall not be available for issuance under the Plan, and (iii) any Stock-settled Stock
Appreciation Rights are exercised, the aggregate number of Shares subject to such Stock Appreciation Rights shall be deemed issued under the Plan and shall not be available for issuance under the Plan. 

(e)    Substitute Awards shall not reduce the Shares authorized for grant under the Plan. In the event that a company
acquired by the Company or any Affiliate or with which the Company or any Affiliate combines has shares available under a pre-existing plan approved by stockholders and not adopted in contemplation of such
acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation
ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the
Shares authorized for grant under the Plan; provided that Awards using such available Shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing
plan, absent the acquisition or combination, and shall only be made to individuals who were not employed by or providing services to the Company or its Affiliates immediately prior to such acquisition or combination. 

Section 5.     Equitable Adjustments. 

In the event of any Change in Capitalization, an equitable substitution or proportionate adjustment shall be made, in each case, as may be
determined by the Administrator, in its sole discretion, in (i) the aggregate number of Shares reserved for issuance under the Plan and the maximum number of Shares that may be subject to Awards granted to any Participant in any calendar
or fiscal year, (ii) the kind, number and Exercise Price subject to outstanding Options and Stock Appreciation Rights granted under the Plan, provided, however, that any such substitution or adjustment with respect to Options and
Stock Appreciation Rights shall occur in accordance with the requirements of Code Section 409A, and (iii) the kind, number and purchase price of Shares subject to outstanding Restricted Shares or Other
Stock-Based Awards granted under the Plan, in each case as may be determined by the Administrator, in its sole discretion; provided, however, that any fractional Shares resulting from the
adjustment shall be eliminated. Such other equitable substitutions or adjustments shall be made as may be determined by the Administrator, in its sole discretion. Without limiting the generality of the foregoing, in connection with a Change in
Capitalization, the Administrator may provide, in its sole discretion, for the cancellation of any outstanding Award granted hereunder in exchange for payment in cash or other property having an aggregate Fair Market Value of the Shares covered by
such Award, reduced by the aggregate Exercise Price or purchase price thereof, if any. Notwithstanding anything contained in the Plan to the contrary, any adjustment with respect to an Incentive Stock Option due to an adjustment or substitution
described in this 

 
Section 5 shall comply with the rules of Code Section 424(a), and in no event shall any adjustment be made which would render any Incentive Stock Option granted hereunder to be
disqualified as an incentive stock option for purposes of Code Section 422. The Administrator’s determinations pursuant to this Section 5 shall be final, binding and conclusive. 

Section 6.     Eligibility. 

The Participants under the Plan shall be selected from time to time by the Administrator, in its sole discretion, from among Eligible
Recipients. 
 Section 7.     Options. 

(a)    General. The Committee may, in its sole discretion, grant Options to Participants. Solely with respect to
Participants who are Employees, the Committee may grant Incentive Stock Options, Nonqualified Stock Options or a combination of both. With respect to all other Participants, the Committee may grant only Nonqualified Stock Options. Each Participant
who is granted an Option shall enter into an Award Agreement with the Company, containing such terms and conditions as the Administrator shall determine, in its sole discretion, which Award Agreement shall specify whether the Option is an Incentive
Stock Option or a Nonqualified Stock Option and shall set forth, among other things, the Exercise Price of the Option, the term of the Option and provisions regarding exercisability of the Option granted thereunder. The provisions of each Option
need not be the same with respect to each Participant. More than one Option may be granted to the same Participant and be outstanding concurrently hereunder. Options granted under the Plan shall be subject to the terms and conditions set forth in
this Section 7 and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable and set forth in the applicable Award Agreement. The prospective recipient of an
Option shall not have any rights with respect to such Award, unless and until such recipient has received an Award Agreement and, if required by the Administrator in the Award Agreement, executed and delivered a fully executed copy thereof to the
Company, within a period of sixty (60) days (or such other period as the Administrator may specify) after the award date. 

(b)    Limits on Incentive Stock Options. If the Administrator grants Incentive Stock Options, then to the extent
that the aggregate fair market value of Shares with respect to which Incentive Stock Options are exercisable for the first time by any individual during any calendar year (under all plans of the Company) exceeds $100,000, such Options will be
treated as Nonqualified Stock Options to the extent required by Code Section 422. 
 (c)    Exercise Price.
The Exercise Price of Shares purchasable under an Option shall be determined by the Administrator in its sole discretion at the time of grant; provided, however, that (i) in no event shall the Exercise Price of an Option be less
than one hundred percent (100%) of the Fair Market Value of the Common Stock on the date of grant, and (ii) no Incentive Stock Option granted to a ten percent (10%) stockholder of the Company’s Common Stock (within the meaning of
Code Section 422(b)(6)) shall have an exercise price per share less than one-hundred ten percent (110%) of the Fair Market Value of a Share on such date. 

(d)    Option Term. The maximum term of each Option shall be fixed by the Administrator, but in no event shall
(i) an Option be exercisable more than ten (10) years after the date such Option is granted, and (ii) an Incentive Stock Option granted to a ten percent (10%) stockholder of the Company’s Common Stock (within the
meaning of Code Section 422(b)(6)) be exercisable more than five (5) years after the date such Option is granted. Each Option’s term is subject to earlier expiration pursuant to the applicable provisions in the Plan and the Award
Agreement. Notwithstanding the foregoing, the Administrator shall have the authority to accelerate the exercisability of any outstanding Option at such time and under such circumstances as the Administrator, in its sole discretion, deems
appropriate. Notwithstanding any contrary provision herein, if, on the date an outstanding Option would expire, the exercise of the Option, including by a “net exercise” or “cashless” exercise, would violate applicable securities
laws or any insider trading policy maintained by the Company from time to time, the expiration date applicable to the Option will be extended, except to the extent such extension would violate Section 409A, to a date that is thirty
(30) calendar days after the date the exercise of the Option would no longer violate applicable securities laws or any such insider trading policy. 

 (e)    Exercisability. Each Option shall be exercisable at such
time or times and subject to such terms and conditions, including the attainment of pre-established Performance Goals, as shall be determined by the Administrator in the applicable Award Agreement. The
Administrator may also provide that any Option shall be exercisable only in installments, and the Administrator may waive such installment exercise provisions at any time, in whole or in part, based on such factors as the Administrator may determine
in its sole discretion. Notwithstanding anything to the contrary contained herein, an Option may not be exercised for a fraction of a share. 

(f)    Method of Exercise. Options may be exercised in whole or in part by giving written notice of exercise to the
Company specifying the number of Shares to be purchased, accompanied by payment in full of the aggregate Exercise Price of the Shares so purchased in cash or its equivalent, as determined by the Administrator. As determined by the Administrator, in
its sole discretion, with respect to any Option or category of Options, payment in whole or in part may also be made (i) by means of consideration received under any cashless exercise procedure approved by the Administrator (including
the withholding of Shares otherwise issuable upon exercise), (ii) in the form of unrestricted Shares already owned by the Participant which have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the Shares
as to which such Option shall be exercised, (iii) any other form of consideration approved by the Administrator and permitted by applicable law or (iv) any combination of the foregoing. In determining which methods a
Participant may utilize to pay the Exercise Price, the Administrator may consider such factors as it determines are appropriate; provided, however, that with respect to Incentive Stock Options, all such discretionary determinations shall be
made by the Administrator at the time of grant and specified in the Award Agreement. 
 (g)    Rights as
Stockholder. A Participant shall have no rights to dividends or any other rights of a stockholder with respect to the Shares subject to an Option until the Participant has given written notice of the exercise thereof, has paid in full for such
Shares and has satisfied the requirements of Section 15 of the Plan and the Shares have been issued to the Participant. 

(h)    Termination of Employment or Service. 

(i)    Unless the applicable Award Agreement provides otherwise, in the event that the employment or
service of a Participant with the Company and all Affiliates thereof shall terminate for any reason other than Cause, Retirement, Disability, or death, (A) Options granted to such Participant, to the extent that they are exercisable at
the time of such termination, shall remain exercisable until the date that is ninety (90) days after such termination, on which date they shall expire, and (B) Options granted to such Participant, to the extent that they were not
exercisable at the time of such termination, shall expire at the close of business on the date of such termination. The ninety (90) day period described in this Section 7(h)(i) shall be extended to one (1) year after the date of such
termination in the event of the Participant’s death during such ninety (90) day period. Notwithstanding the foregoing, no Option shall be exercisable after the expiration of its term. 

(ii)    Unless the applicable Award Agreement provides otherwise, in the event that the employment or
service of a Participant with the Company and all Affiliates thereof shall terminate on account of Retirement, Disability or the death of the Participant, (A) Options granted to such Participant, to the extent that they were exercisable
at the time of such termination, shall remain exercisable until the date that is one (1) year after such termination, on which date they shall expire and (B) Options granted to such Participant, to the extent that they were not
exercisable at the time of such termination, shall expire at the close of business on the date of such termination. Notwithstanding the foregoing, no Option shall be exercisable after the expiration of its term. 

(iii)    In the event of the termination of a Participant’s employment or service for Cause, all
outstanding Options granted to such Participant shall expire at the commencement of business on the date of such termination. 

(iv)    For purposes of this Section 7(h), Options that are not exercisable solely due to a blackout
period shall be considered exercisable. 

 (i)    Other Change in Employment Status. An Option may be
affected, both with regard to vesting schedule and termination, by leaves of absence, changes from full-time to part-time employment, partial disability or other changes in the employment status or service of a Participant, as evidenced in a
Participant’s Award Agreement. 
 (j)    Change in Control. Notwithstanding anything herein to the contrary,
upon a Change in Control, all outstanding Options shall be subject to Section 12 of the Plan. 
 Section 8.     Stock
Appreciation Rights. 
 (a)    General. Stock Appreciation Rights may be granted either alone (“Free
Standing Rights”) or in conjunction with all or part of any Option granted under the Plan (“Related Rights”). Related Rights may be granted either at or after the time of the grant of such Option. The Administrator shall
determine the Eligible Recipients to whom, and the time or times at which, grants of Stock Appreciation Rights shall be made, the number of Shares to be awarded, the price per Share, and all other conditions of Stock Appreciation Rights.
Notwithstanding the foregoing, no Related Right may be granted for more Shares than are subject to the Option to which it relates and any Stock Appreciation Right must be granted with an Exercise Price not less than the Fair Market Value of Common
Stock on the date of grant. The provisions of Stock Appreciation Rights need not be the same with respect to each Participant. Stock Appreciation Rights granted under the Plan shall be subject to the following terms and conditions set forth in this
Section 8 and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable, as set forth in the applicable Award Agreement. 

(b)    Awards; Rights as Stockholder. The prospective recipient of a Stock Appreciation Right shall not have any
rights with respect to such Award, unless and until such recipient has received an Award Agreement and, if required by the Administrator in the Award Agreement, executed and delivered a fully executed copy thereof to the Company, within a period of
sixty (60) days (or such other period as the Administrator may specify) after the award date. Participants who are granted Stock Appreciation Rights shall have no rights as stockholders of the Company with respect to the grant or exercise of
such rights. 
 (c)    Exercisability. 

(i)    Stock Appreciation Rights that are Free Standing Rights shall be exercisable at such time or times
and subject to such terms and conditions as shall be determined by the Administrator in the applicable Award Agreement. 

(ii)    Stock Appreciation Rights that are Related Rights shall be exercisable only at such time or times
and to the extent that the Options to which they relate shall be exercisable in accordance with the provisions of Section 7 above and this Section 8 of the Plan. 

(d)    Payment Upon Exercise. 

(i)    Upon the exercise of a Free Standing Right, the Participant shall be entitled to receive up to, but
not more than, that number of Shares, determined using the Fair Market Value, equal in value to the excess of the Fair Market Value as of the date of exercise over the price per share specified in the Free Standing Right multiplied by the number of
Shares in respect of which the Free Standing Right is being exercised. 
 (ii)    A Related Right may be
exercised by a Participant by surrendering the applicable portion of the related Option. Upon such exercise and surrender, the Participant shall be entitled to receive up to, but not more than, that number of Shares, determined using the Fair Market
Value, equal in value to the excess of the Fair Market Value as of the date of exercise over the Exercise Price specified in the related Option multiplied by the number of Shares in respect of which the Related Right is being exercised. Options
which have been so surrendered, in whole or in part, shall no longer be exercisable to the extent the Related Rights have been so exercised. 

(iii)    Notwithstanding the foregoing, the Administrator may determine to settle the exercise of a Stock
Appreciation Right in cash (or in any combination of Shares and cash). 

 (e)    Rights as Stockholder. A Participant shall have no rights
to dividends or any other rights of a stockholder with respect to the Shares subject to a Stock Appreciation Right Option until the Participant has given written notice of the exercise thereof, has satisfied the requirements of Section 15 of
the Plan and the Shares have been issued to the Participant. 
 (f)    Termination of Employment or Service. 

(i)    In the event of the termination of employment or service with the Company and all Affiliates thereof
of a Participant who has been granted one or more Free Standing Rights, such rights shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Administrator in the applicable Award Agreement.

 (ii)    In the event of the termination of employment or service with the Company and all Affiliates
thereof of a Participant who has been granted one or more Related Rights, such rights shall be exercisable at such time or times and subject to such terms and conditions as set forth in the related Options. 

(g)    Term. 

(i)    The term of each Free Standing Right shall be fixed by the Administrator, but no Free Standing Right
shall be exercisable more than ten (10) years after the date such right is granted. 
 (ii)    The
term of each Related Right shall be the term of the Option to which it relates, but no Related Right shall be exercisable more than ten (10) years after the date such right is granted. 

(h)    Change in Control. Notwithstanding anything herein to the contrary, upon a Change in Control, all
outstanding Stock Appreciation Rights shall be subject to Section 12 of the Plan. 
 (i)    Automatic
Exercise. Unless otherwise provided by the Administrator in an Award Agreement or otherwise, or as otherwise directed by the Participant in writing to the Company, each vested and exercisable Stock Appreciation Right outstanding on the
Automatic Exercise Date with an Exercise Price per Share that is less than the Fair Market Value per Share as of such date shall automatically and without further action by the Participant or the Company be exercised on the Automatic Exercise Date.
The Company or any Affiliate shall deduct or withhold an amount sufficient to satisfy all taxes associated with such exercise in accordance with Section 15. Unless otherwise determined by the Administrator, this Section 8(i) shall not
apply to a Stock Appreciation Right if the Participant’s employment or service has terminated on or before the Automatic Exercise Date. For the avoidance of doubt, no Stock Appreciation Right with an Exercise Price per Share that is equal to or
greater the Fair Market Value per Share on the Automatic Exercise Date shall be exercised pursuant to this Section 8(i). 

Section 9.     Restricted Shares. 

(a)    General. Restricted Shares may be issued either alone or in addition to other Awards granted under the Plan.
The Administrator shall determine the Eligible Recipients to whom, and the time or times at which, grants of Restricted Shares shall be made; the number of Shares to be awarded; the price, if any, to be paid by the Participant for the acquisition of
Restricted Shares; the Restricted Period, if any, applicable to Restricted Shares; the Performance Goals (if any) applicable to Restricted Shares; and all other conditions of the Restricted Shares. If the restrictions, Performance Goals and/or
conditions established by the Administrator are not attained, a Participant shall forfeit his or her Restricted Shares in accordance with the terms of the grant. The provisions of the Restricted Shares need not be the same with respect to each
Participant. 
 (b)    Awards and Certificates. The prospective recipient of Restricted Shares shall not have any
rights with respect to any such Award, unless and until such recipient has received an Award Agreement and, if required by the Administrator in the Award Agreement, executed and delivered a fully executed copy thereof to the Company, within a period
of sixty (60) days (or such other period as the Administrator may specify) after the award date. Except as otherwise provided in Section 9(c) of the Plan, (i) each Participant who is granted an award of Restricted Shares may,
in the Company’s sole discretion, be issued a stock certificate in respect of such 

 
Restricted Shares; and (ii) any such certificate so issued shall be registered in the name of the Participant, and shall bear an appropriate legend referring to the terms, conditions,
and restrictions applicable to any such Award. 
 The Company may require that the stock certificates, if any, evidencing Restricted Shares
granted hereunder be held in the custody of the Company until the restrictions thereon shall have lapsed, and that, as a condition of any award of Restricted Shares, the Participant shall have delivered a stock power, endorsed in blank, relating to
the Shares covered by such Award. 
 Notwithstanding anything in the Plan to the contrary, any Restricted Shares (whether before or after
any vesting conditions have been satisfied) may, in the Company’s sole discretion, be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form. 

(c)    Restrictions and Conditions. The Restricted Shares granted pursuant to this Section 9 shall be subject
to the following restrictions and conditions and any additional restrictions or conditions as determined by the Administrator at the time of grant or thereafter: 

(i)    The Administrator may, in its sole discretion, provide for the lapse of restrictions in installments
and may accelerate or waive such restrictions in whole or in part based on such factors and such circumstances as the Administrator may determine, in its sole discretion, including, but not limited to, the attainment of certain Performance Goals,
the Participant’s termination of employment or service as a non-employee Director or Consultant of the Company or an Affiliate thereof, or the Participant’s death or Disability. 

(ii)    Except as provided in Section 16 of the Plan or in the Award Agreement, the Participant shall
generally have the rights of a stockholder of the Company with respect to Restricted Shares during the Restricted Period. In the Administrator’s discretion and as provided in the applicable Award Agreement, a Participant may be entitled to
dividends or dividend equivalents on an Award of Restricted Shares, which will be payable in accordance with the terms of such grant as determined by the Administrator. Certificates for Shares of unrestricted Common Stock may, in the Company’s
sole discretion, be delivered to the Participant only after the Restricted Period has expired without forfeiture in respect of such Restricted Shares, except as the Administrator, in its sole discretion, shall otherwise determine. 

(iii)    The rights of Participants granted Restricted Shares upon termination of employment or service as
a non-employee Director or Consultant of the Company or an Affiliate thereof terminates for any reason during the Restricted Period shall be set forth in the Award Agreement. 

(d)    Change in Control. Notwithstanding anything herein to the contrary, upon a Change in Control, all
outstanding Restricted Shares shall be subject to Section 12 of the Plan. 
 Section 10.     Restricted Stock Units.

 (a)    General. Restricted Stock Units may be issued either alone or in addition to other Awards granted
under the Plan. The Administrator shall determine the Eligible Recipients to whom, and the time or times at which, grants of Restricted Stock Units shall be made; the number of Restricted Stock Units to be awarded; the Restricted Period, if any,
applicable to Restricted Stock Units; the Performance Goals (if any) applicable to Restricted Stock Units; and all other conditions of the Restricted Stock Units. If the restrictions, Performance Goals and/or conditions established by the
Administrator are not attained, a Participant shall forfeit his or her Restricted Stock Units in accordance with the terms of the grant. The provisions of Restricted Stock Units need not be the same with respect to each Participant. 

(b)    Award Agreement. The prospective recipient of Restricted Stock Units shall not have any rights with respect
to any such Award, unless and until such recipient has received an Award Agreement and, if required by the Administrator in the Award Agreement, executed and delivered a fully executed copy thereof to the Company, within a period of sixty
(60) days (or such other period as the Administrator may specify) after the award date. 

 (c)    Restrictions and Conditions. The Restricted Stock Units
granted pursuant to this Section 10 shall be subject to the following restrictions and conditions and any additional restrictions or conditions as determined by the Administrator at the time of grant or, subject to Code Section 409A,
thereafter: 
 (i)    The Administrator may, in its sole discretion, provide for the lapse of
restrictions in installments and may accelerate or waive such restrictions in whole or in part based on such factors and such circumstances as the Administrator may determine, in its sole discretion, including, but not limited to, the attainment of
certain Performance Goals, the Participant’s termination of employment or service as a non-employee Director or Consultant of the Company or an Affiliate thereof, or the Participant’s death or
Disability. 
 (ii)    Participants holding Restricted Stock Units shall have no voting rights. A
Restricted Stock Unit may, at the Administrator’s discretion, carry with it a right to dividend equivalents. Such right would entitle the holder to be credited with an amount equal to all cash dividends paid on one Share while the Restricted
Stock Unit is outstanding. The Administrator, in its discretion, may grant dividend equivalents from the date of grant or only after a Restricted Stock Unit is vested. 

(iii)    The rights of Participants granted Restricted Stock Units upon termination of employment or
service as a non-employee Director or Consultant of the Company or an Affiliate thereof terminates for any reason during the Restricted Period shall be set forth in the Award Agreement. 

(d)    Settlement of Restricted Stock Units. Settlement of vested Restricted Stock Units shall be made to
Participants in the form of Shares, unless the Administrator, in its sole discretion, provides for the payment of the Restricted Stock Units in cash (or partly in cash and partly in Shares) equal to the Fair Market Value of the Shares that would
otherwise be distributed to the Participant. 
 (e)    Rights as Stockholder. Except as
provided in the Award Agreement in accordance with Section 10(c)(ii), a Participant shall have no rights to dividends or any other rights of a stockholder with respect to the Shares subject to Restricted Stock Units until the Participant has
satisfied all conditions of the Award Agreement and the requirements of Section 15 of the Plan and the Shares have been issued to the Participant. 

(f)    Change in Control. Notwithstanding anything herein to the contrary, upon a Change in Control, all
outstanding Restricted Stock Units shall be subject to Section 12 of the Plan. 
 Section 11.     Other Stock-Based or Cash-Based Awards. 
 (a)    The Administrator is authorized to
grant Awards to Participants in the form of Other Stock-Based Awards or Other Cash-Based Awards, as deemed by the Administrator to be consistent with the purposes of the Plan and as evidenced by an Award
Agreement. The Administrator shall determine the terms and conditions of such Awards, consistent with the terms of the Plan, at the date of grant or thereafter, including any Performance Goals and performance periods. Common Stock or other
securities or property delivered pursuant to an Award in the nature of a purchase right granted under this Section 11 shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including, without
limitation, Shares, other Awards, notes or other property, as the Administrator shall determine, subject to any required corporate action. 

(b)    The prospective recipient of an Other Stock-Based Award or Other Cash-Based Award shall not have any rights with
respect to such Award, unless and until such recipient has received an Award Agreement and, if required by the Administrator in the Award Agreement, executed and delivered a fully executed copy thereof to the Company, within a period of sixty
(60) days (or such other period as the Administrator may specify) after the award date. 
 (c)    Notwithstanding
anything herein to the contrary, upon a Change in Control, all outstanding Other Stock-Based Awards and Other Cash-Based Awards shall be subject to Section 12 of the Plan. 

 Section 12.     Change in Control. 

The Administrator may provide in the applicable Award Agreement that an Award will vest on an accelerated basis upon the Participant’s
termination of employment or service in connection with a Change in Control or upon the occurrence of any other event that the Administrator may set forth in the Award Agreement. If the Company is a party to an agreement that is reasonably likely to
result in a Change in Control, such agreement may provide for: (i) the continuation of any Award by the Company, if the Company is the surviving corporation; (ii) the assumption of any Award by the surviving corporation or
its parent or subsidiary; (iii) the substitution by the surviving corporation or its parent or subsidiary of equivalent awards for any Award, provided, however, that any such substitution with respect to Options and Stock
Appreciation Rights shall occur in accordance with the requirements of Code Section 409A; or (iv) settlement of any Award for the Change in Control Price (less, to the extent applicable, the per share exercise or grant price), or,
if the per share exercise or grant price equals or exceeds the Change in Control Price or if the Administrator determines that Award cannot reasonably become vested pursuant to its terms, such Award shall terminate and be canceled without
consideration. To the extent that Restricted Shares, Restricted Stock Units or other Awards settle in Shares in accordance with their terms upon a Change in Control, such Shares shall be entitled to receive as a result of the Change in Control
transaction the same consideration as the Shares held by stockholders of the Company as a result of the Change in Control transaction. For purposes of this Section 12, “Change in Control Price” shall mean (A) the price per
share of Common Stock paid to stockholders of the Company in the Change in Control transaction, or (B) the Fair Market Value of a Share upon a Change in Control, as determined by the Administrator. To the extent that the consideration paid in
any such Change in Control transaction consists all or in part of securities or other non-cash consideration, the value of such securities or other non-cash
consideration shall be determined in good faith by the Administrator. 
 Section 13.     Amendment and Termination. 

(a)    The Board or the Committee may amend, alter or terminate the Plan, but no amendment, alteration, or termination
shall be made that would impair the rights of a Participant under any Award theretofore granted without such Participant’s consent. 

(b)    Notwithstanding the foregoing, approval of the Company’s stockholders shall be obtained to increase the
aggregate Share limit and annual Award limits described in Section 4. 
 (c)    Subject to the terms and conditions
of the Plan, the Administrator may modify, extend or renew outstanding Awards under the Plan, or accept the surrender of outstanding Awards (to the extent not already exercised) and grant new Awards in substitution of them (to the extent not already
exercised). 
 (d)    Notwithstanding the foregoing, no alteration, modification or termination of an Award will,
without the prior written consent of the Participant, adversely alter or impair any rights or obligations under any Award already granted under the Plan. 

Section 14.     Unfunded Status of Plan. 

The Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made or Shares
not yet transferred to a Participant by the Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general creditor of the Company. 

Section 15.     Withholding Taxes. 

Each Participant shall, no later than the date as of which the value of an Award first becomes includible in the gross income of such
Participant for federal, state and/or local income tax purposes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of, any federal, state, or local taxes of any kind, domestic or foreign, required by law or
regulation to be withheld with respect to the Award. The obligations of the Company under the Plan shall be conditional on the making of such payments or arrangements, 

 
and the Company shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to such Participant. Whenever cash is to be paid pursuant
to an Award granted hereunder, the Company shall have the right to deduct therefrom an amount sufficient to satisfy any federal, state and local withholding tax requirements related thereto. Whenever Shares are to be delivered pursuant to an Award,
the Company shall have the right to require the Participant to remit to the Company in cash an amount sufficient to satisfy any related federal, state and local taxes, domestic or foreign, to be withheld and applied to the tax obligations. With the
approval of the Administrator, a Participant may satisfy the foregoing requirement by electing to have the Company withhold from delivery of Shares or by delivering already owned unrestricted shares of Common Stock, in each case, having a value
equal to the amount required to be withheld or such other greater amount up to the maximum statutory rate under applicable law, as applicable to such Participant, if such other greater amount would not result in adverse financial accounting
treatment, as determined by the Administrator (including in connection with the effectiveness of FASB Accounting Standards Update 2016-09). Such Shares shall be valued at their Fair Market Value on the date of
which the amount of tax to be withheld is determined. Fractional share amounts shall be settled in cash. Such an election may be made with respect to all or any portion of the Shares to be delivered pursuant to an Award. The Company may also use any
other method of obtaining the necessary payment or proceeds, as permitted by law, to satisfy its withholding obligation with respect to any Option or other Award. 

Section 16.     Non-United States Employees.

Without amending the Plan, the Administrator may grant Awards to eligible persons residing in
non-United States jurisdictions on such terms and conditions different from those specified in the Plan, including the terms of any award agreement or plan, adopted by the Company or any Subsidiary thereof to
comply with, or take advantage of favorable tax or other treatment available under, the laws of any non-United States jurisdiction, as may in the judgment of the Administrator be necessary or desirable to
foster and promote achievement of the purposes of the Plan and, in furtherance of such purposes the Administrator may make such modifications, amendments, procedures, subplans and the like as may be necessary or advisable to comply with provisions
of laws in other countries or jurisdictions in which the Company or its Subsidiaries operates or has employees. 

Section 17.     Transfer of Awards. 

No purported sale, assignment, mortgage, hypothecation, transfer, charge, pledge, encumbrance, gift, transfer in trust (voting or other) or
other disposition of, or creation of a security interest in or lien on, any Award or any agreement or commitment to do any of the foregoing (each, a “Transfer”) by any holder thereof in violation of the provisions of the Plan or an
Award Agreement will be valid, except with the prior written consent of the Administrator, which consent may be granted or withheld in the sole discretion of the Administrator. Any purported Transfer of an Award or any economic benefit or interest
therein in violation of the Plan or an Award Agreement shall be null and void ab initio, and shall not create any obligation or liability of the Company, and any person purportedly acquiring any Award or any economic benefit or interest
therein transferred in violation of the Plan or an Award Agreement shall not be entitled to be recognized as a holder of such Shares. Unless otherwise determined by the Administrator in accordance with the provisions of the immediately preceding
sentence, an Option may be exercised, during the lifetime of the Participant, only by the Participant or, during any period during which the Participant is under a legal disability, by the Participant’s guardian or legal representative. 

Section 18.     Continued Employment. 

The adoption of the Plan shall not confer upon any Eligible Recipient any right to continued employment or service with the Company or an
Affiliate thereof, as the case may be, nor shall it interfere in any way with the right of the Company or an Affiliate thereof to terminate the employment or service of any of its Eligible Recipients at any time. 

 Section 19.     Effective Date. 

The Plan was originally approved by the Company’s stockholders, and became effective, on November 16, 2018 (the “Original
Effective Date”). The Plan, as amended and restated hereby, will be effective as of the date (the “Effective Date”) on which the Plan is approved by the Company’s stockholders at the Company’s 2020 Annual Meeting
of Stockholders. The Plan will be unlimited in duration and, in the event of Plan termination, will remain in effect as long as any Shares awarded under it are outstanding and not fully vested; provided, however, that no Awards will be made
under the Plan on or after the tenth anniversary of the Effective Date. 
 Section 20.     Code Section 409A. 

The intent of the parties is that payments and benefits under the Plan comply with Code Section 409A to the extent subject thereto, and,
accordingly, to the maximum extent permitted, the Plan shall be interpreted and be administered to be in compliance therewith. Any payments described in the Plan that are due within the “short-term deferral period” as defined in Code
Section 409A shall not be treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything to the contrary in the Plan, to the extent required in order to avoid accelerated taxation and/or tax penalties under
Code Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided upon a “separation from service” to a Participant who is a “specified employee” shall be paid on the first business day
after the date that is six (6) months following the Participant’s separation from service (or upon the Participant’s death, if earlier). In addition, for purposes of the Plan, each amount to be paid or benefit to be provided to the
Participant pursuant to the Plan, which constitute deferred compensation subject to Code Section 409A, shall be construed as a separate identified payment for purposes of Code Section 409A. Nothing contained in the Plan or an Award
Agreement shall be construed as a guarantee of any particular tax effect with respect to an Award. The Company does not guarantee that any Awards provided under the Plan will satisfy the provisions of Code Section 409A, and in no event will the
Company be liable for any or all portion of any taxes, penalties, interest or other expenses that may be incurred by a Participant on account of any non-compliance with Code Section 409A. 

Section 21.     Delays. 

Notwithstanding to the contrary in the Plan or an Award Agreement, the Company shall have the right to suspend or delay any time period
prescribed in the Plan or an Award Agreement for any action if the Administrator shall determine that the action may constitute a violation of any law or result in any liability under any law to the Company, an Affiliate or a stockholder in the
Company until such time as the action required or permitted will not constitute a violation of law or result in liability to the Company, an Affiliate or a stockholder of the Company. 

Section 22.     Compensation Recovery Policy. 

The Plan and all Awards issued hereunder shall be subject to any compensation recovery and/or recoupment policy adopted by the Company to
comply with applicable law, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act, or to comport with good corporate governance practices, as such policies may be amended from time to time. 

Section 23.     Governing Law. 

The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to principles of
conflicts of law of such state. 
 Section 24.     Plan Document Controls. 

The Plan and each Award Agreement constitute the entire agreement with respect to the subject matter hereof and thereof; provided that
in the event of any inconsistency between the Plan and such Award Agreement, the terms and conditions of the Plan shall control.Exhibit 10.2

 

ASSET PURCHASE AGREEMENT

 

This Asset Purchase
Agreement (this “Agreement”), dated June 9, 2020, is by and between S-FDF, LLC, a Texas limited liability company
(the “Seller”), and Black Ridge Oil & Gas, Inc., a Nevada corporation (the “Company,”
and together with the Seller, each a “Party,” and collectively, the “Parties”). Capitalized
terms used, but not defied herein shall have the meanings ascribed to such terms on Exhibit A hereto.

 

RECITALS

 

WHEREAS, the
Seller is engaged in the business of manufacturing and producing freeze-dried fruit and vegetables for human consumption (the “Business”);
and

 

WHEREAS, the
Seller wishes to sell to the Company, and the Company wishes to purchase and assume from the Seller, substantially all of the assets,
and certain specified liabilities, of the Business, subject to the terms and conditions set forth herein;

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

 

Article
I

Purchase and sale

 

Section 1.01     
Purchase and Sale of Assets.
Subject to the terms and conditions set forth herein, at the Closing, the Seller shall sell, assign, transfer, convey and deliver
to the Company, and the Company shall purchase from the Seller, free and clear of any encumbrances, all of the Seller’s right,
title and interest in, to and under the Purchased Assets. The “Purchased Assets” shall mean all of the Seller’s
right, title and interest in, to and under all of the assets, properties and rights of every kind and nature, whether real, personal
or mixed, tangible or intangible (including goodwill), wherever located and whether now existing or hereafter acquired (other than
the Excluded Assets set forth in Section 1.02), which relate to, or are used or held for use in connection with, the Business
and set forth on Section 1.01 of the Disclosure Schedules.

 

Section
1.02      Excluded Assets.
Notwithstanding the foregoing, the Purchased Assets shall not include the assets, properties, and rights specifically set forth
on Section 1.02 of the Disclosure Schedules (collectively, the “Excluded Assets”).

 

Section 1.03     
Assumed Liabilities. Subject
to the terms and conditions set forth herein, the Company shall assume and agree to pay, perform and discharge those liabilities
of the Seller set forth on Section 1.03 of the Disclosure Schedules (collectively, the “Assumed Liabilities”).

 

Section
1.04      Excluded Liabilities.
Notwithstanding the provisions of Section 1.03 or any other provision in this Agreement to the contrary, the Company shall
not assume and shall not be responsible to pay, perform or discharge any liabilities of the Seller of any kind or nature whatsoever
other than the Assumed Liabilities expressly set forth on Section 1.03 of the Disclosure Schedules (the “Excluded
Liabilities”).

 

Section 1.05     
Consideration.

 

(a)            Seller Shares. As consideration for the Purchased Assets, at the Closing, the Company shall issue to the Seller one
million one hundred twenty thousand (1,120,000) shares of common stock of the Company (the “Seller Shares”)
(with the value of the Seller Shares being the “Consideration Amount”). At the Closing, the Seller Shares shall
represent forty-one and forty-eight hundredths percent (41.48%) of the Company’s issued and outstanding common stock. The
amount of the Seller Shares issued to the Seller shall be subject to the following adjustments, as applicable:

 

(i)              If the AESE Share Proceeds are less than five million dollars ($5,000,000) as of the Final Determination Date, then the
amount of the Seller Shares shall be increased as of the Final Determination Date to the number of shares of common stock equal
to the Seller Value divided by the Per Share Adjusted Price or an equivalent value of preferred stock of the Company (at the election
of the Company’s Board of Directors (the “Board”)).

 

 

 

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(ii)              If the AESE Share Proceeds are more than six million dollars ($6,000,000) as of the Final Determination Date, then the amount
of the Seller Shares shall be reduced as of the Final Determination Date by the Seller forfeiting such amount of shares of common
stock as is equal to the Seller Value divided by the Per Share Adjusted Price or the Seller may, at the election of the Seller,
retain all of the previously issued Seller Shares by contributing additional cash to the Company at a value equal to the Per Share
Adjusted Price.

 

(iii)             If the Company Contribution exceeds five million dollars ($5,000,000) as of the Final Determination Date due to additional
equity or convertible debt financing of Company securities, then the Seller shall have the right to participate in the Company’s
equity or convertible debt capital raise for the amount in excess of five million dollars ($5,000,000) to maintain its pro rata
ownership in the Company.

 

Section
1.06      Allocation.
Within ninety (90) days after the Closing Date, the Seller shall deliver a schedule allocating the Consideration Amount
(including any Assumed Liabilities treated as consideration for the Purchased Assets for tax purposes) (the “Allocation
Schedule”). The Allocation Schedule shall be prepared in accordance with Section 1060 of the Code. The Allocation Schedule
shall be deemed final unless the Company notifies the Seller in writing that the Company objects to one (1) or more items reflected
in the Allocation Schedule within fifteen (15) days after delivery of the Allocation Schedule to the Company. In the event of any
such objection, the Seller and the Company shall negotiate in good faith to resolve such dispute; provided, however, that if the
Seller and the Company are unable to resolve any dispute with respect to the Allocation Schedule within thirty (30) days after
the delivery of the Allocation Schedule to the Company, such dispute shall be resolved by RSM US LLP (the “Independent
Accountant”) or, if the Independent Accountant is unable to serve, another impartial nationally recognized firm of independent
certified public accountants mutually appointed by the Seller and the Company. The fees and expenses of such accounting firm shall
be borne equally by the Seller and the Company. The Seller and the Company agree to file their respective IRS Form 8594 and all
federal, state and local tax returns in accordance with the Allocation Schedule.

 

Article
II

CLOSING

 

Section 2.01     
Closing. Subject to the terms
and conditions of this Agreement, the consummation of the transactions contemplated by this Agreement (the “Closing”)
shall take place on October 1, 2020 after all of the conditions to Closing set forth herein are either satisfied or waived (other
than conditions which, by their nature, are to be satisfied on the Closing Date), or at such other time, date or place as the Seller
and the Company may mutually agree upon in writing. The date on which the Closing is to occur is herein referred to as the “Closing
Date.”

 

Section
2.02      Closing Deliverables.

 

(a)             At the Closing, the Seller shall deliver, or cause to be delivered to the Company the following:

 

(i)              all
consents and approvals necessary to effectuate the transfer of the Purchased Assets;

 

(ii)              a
bill of sale in a form and substance satisfactory to the Company (the “Bill of Sale”) transferring the tangible
personal property included in the Purchased Assets to the Company;

 

(iii)            an
assignment and assumption agreement in a form and substance satisfactory to the Company (the “Assignment and Assumption
Agreement”) effecting the assignment to and assumption by the Company of the Purchased Assets and the Assumed Liabilities;

 

(iv)            a
certificate of the Secretary (or equivalent officer) of the Seller certifying as to (A) the accuracy and completeness of the representations
and warranties made by the Seller in this Agreement; (B) the resolutions of the Seller, duly adopted and in effect, which authorize
the execution, delivery and performance of this Agreement and the transactions contemplated hereby; and (C) the names and signatures
of the officers of the Seller authorized to sign this Agreement and the documents to be delivered hereunder;

 

(v)             the Employment Agreements;

 

(vi)            the Registration Rights Agreement; and

 

 

 

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(vii)           such
other customary instruments of transfer, assumption, filings or documents, in form and substance reasonably satisfactory to the
Company, as may be required to give effect to this Agreement.

 

(b)             At the Closing, the Company shall deliver, or cause to be delivered to the Seller the following:

 

(i)               the Seller Shares;

 

(ii)              the Bill of Sale;

 

(iii)             the Assignment and Assumption Agreement;

 

(iv)            a
certificate of the Secretary (or equivalent officer) of the Company certifying as to (A) the accuracy and completeness of the
representations and warranties made by the Company in this Agreement; (B) the resolutions of the Company, duly adopted and in
effect, which authorize the execution, delivery and performance of this Agreement and the transactions contemplated hereby; and
(C) the names and signatures of the officers of the Company authorized to sign this Agreement and the documents to be delivered
hereunder; and

 

(v)              the Employment Agreements;

 

(vi)            the Registration Rights Agreement;

 

(vii)           the 2020 Equity Plan;

 

(viii)          the
Amended and Restated Articles of Incorporation setting forth the mutually acceptable terms, rights, privileges, and preferences
of the preferred stock of the Company to be potentially issued to Seller under Section 1.05(a)(i);

 

(ix)             a consent of the Company duly appointing (A) Ira Goldfarb, Claudia Goldfarb, and one additional person to be designated
by Ira Goldfarb and Claudia Goldfarb, in their sole discretion, to the Board; (B) Ira Goldfarb as the Executive Chairman of the
Board; (C) Claudia Goldfarb as Chief Executive Officer of the Company; and (D) Ken DeCubellis as an observer of the Board; and

 

(x)              such other customary instruments of transfer, assumption, filings or documents, in form and substance reasonably satisfactory
to the Seller, as may be required to give effect to this Agreement.

 

Article
III

Representations and warranties of THE SELLER

 

The Seller represents
and warrants to the Company that the statements contained in this Article III are true and correct as of the Closing Date.

 

Section
3.01      Title to the Purchased Assets; Contract Restrictions.
Except as otherwise set forth on Section 3.01 of the Disclosure Schedules, the Seller has good and marketable title to,
and sole possession and control of the Purchased Assets, free and clear of all encumbrances. With respect to any contracts or similar
arrangements which constitute part of the Purchased Assets: (i) the Seller has performed all of its obligations and is not in default
or alleged to be in default thereunder, (ii) there exists no event, condition or occurrence which, without notice or lapse of time
or both would constitute such a default, and (iii) the transfer and assignment to the Company of such contract or arrangement will
not require the consent of any party thereto or constitute an event permitting termination thereof, unless such third party consent
has been obtained by the Seller. The Purchased Assets constitute all of the assets currently owned by Seller or its affiliates
related to the Business.

 

Section
3.02      Authorization.
The Seller is a limited liability company duly organized, validly existing and in good standing under the laws of the State of
Texas. The Seller has all necessary limited liability company power and authority to execute and deliver this Agreement, to perform
its obligations under this Agreement and to consummate the transactions contemplated by this Agreement. The execution, delivery
and performance by the Seller of this Agreement and the consummation by the Seller of the transactions contemplated by this Agreement
have been duly authorized by all necessary action and no other proceedings on the part of the Seller are necessary to authorize
this Agreement or to consummate the transactions contemplated by this Agreement. Accurate and complete copies of the Seller’s
organizational documents have been delivered to the Company. The Seller has no subsidiaries and does not own any securities of
any corporation or any other entity.

 

 

 

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Section
3.03      Enforceability.
 This Agreement has been duly executed and delivered by the Seller and, assuming the due authorization, execution and
delivery by the Company, constitutes a legal, valid and binding obligation of the Seller enforceable against it in accordance with
its terms, except in so for as enforcement may be limited by bankruptcy, insolvency, or other laws affecting generally the enforceability
of creditors rights and by limitations on the availability of equitable remedies.

 

Section 3.04     
No Breach. The execution and
delivery of this Agreement by the Seller does not, and the performance of this Agreement by the Seller and the consummation of
the transactions contemplated by this Agreement will not, (i) conflict with or violate in any material respect any law applicable
to the Seller or by which any property or asset of the Seller is bound or affected, (ii) conflict with or violate any provision
of the Seller’s organization documents, or (iii) result in a breach of or constitute a default (or an event that without
notice or lapse of time or both would become a default) under, give to others any right of termination, amendment, acceleration
or cancellation of, result in triggering any payment or other obligations, or result in the creation of a lien on any property
or asset of the Seller under any material note, bond, mortgage, indenture, contract, agreement, lease, license, permit, franchise
or other instrument or obligation to which the Seller is a party or by which the Seller or any property or asset of the Seller
is bound or affected, except in the case of clauses (i) and (ii) for any such conflicts, violations, breaches, defaults or other
occurrences that would not, individually or in the aggregate, prevent the performance by the Seller of its material obligations
under this Agreement or the consummation of the transactions contemplated by this Agreement.

 

Section 3.05     
No Undisclosed Liabilities.
Except as otherwise specified in this Agreement, the Seller does not have any actual knowledge of any liabilities or obligations
of any nature, fixed or contingent, disputed or undisputed, affecting the Purchased Assets. The Seller does not have any actual
knowledge of any defects in the Purchased Assets of which will or may have a material adverse impact on the operation the Business.

 

Section 3.06     
Litigation.  There are no
(i) claims, suits, actions, citations, administrative or arbitration or other proceedings or governmental investigations pending
or, to the knowledge of the Seller, threatened against the Seller or asserted in connection with the transactions contemplated
by this Agreement or (ii) judgments, orders, writs, injunctions or decrees of any court or administrative agency involving or affecting
the Seller.

 

Section 3.07     
Taxes. The Seller has filed
all tax returns and reports which are required by law to have been filed and has fully paid any and all taxes (including, but not
limited to, income, franchise, property, sales, use and employment taxes) required to be paid in respect of the period covered
by those returns and reports.

 

Section
3.08      Environmental Matters.
No event has occurred or condition exists or operating practice is being employed with respect to the Business that could give
rise to liability on the part of the Business or related to the Purchased Assets under any federal, state, or local statute, or
any regulation, or applicable common law, relating primarily to protection of human health or the environment.

 

Section
3.09      Intellectual Property.

 

(a)             Except
as set forth on Section 3.09 of the Disclosure Schedules, there are no patents, patent applications, registered trademarks,
trademark applications, registered service marks, service mark applications, trade names, registered copyrights, domain names,
or any application for such in the process of being prepared, owned by or registered in the name of the Seller related to the
Business, or of which the Seller is a licensor or licensee or in which the Seller has any right related to the Business.

 

(b)            The Seller owns or possesses, or is able to obtain on reasonable terms, adequate licenses or other rights to use all patents,
trademarks, service marks, trade names, copyrights, trade secrets and know how, including formulas, patterns, compilations, programs,
devices, methods, techniques, processes, inventions, designs, technical data, and computer software (collectively, “Intellectual
Property”) necessary to the conduct of the Business as conducted and no claim is pending or, to the Seller’s knowledge,
threatened to the effect that the operations of the Business infringe upon or conflict with the asserted rights of any other person
under any Intellectual Property.

 

 

 

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(c)             No claim is pending or, to the Seller’s knowledge, threatened to the effect that any Intellectual Property used, owned
or licensed by the Seller related to the Business, or which the Seller otherwise has the right to use related to the Business,
is invalid or unenforceable.

 

(d)            All
proprietary and trade secret technical information developed by and belonging to the Seller related to the Business which has
not been patented has, to the Seller’s knowledge, been kept confidential.

 

(e)             The
Seller has not brought or threatened to bring any claim to the effect that any person has infringed upon or misappropriated any
Intellectual Property.

 

(f)             The
Seller is not contractually or, to the Seller’s knowledge, otherwise obligated to make any material payments by way of royalties,
fees or otherwise to any owner of, licensor of, or other claimant to any of the Intellectual Property with respect to the use
thereof or in connection with the conduct of the Business.

 

(g)            Each independent contractor or consultant engaged by the Seller for services to be rendered to the Business has executed
an agreement prohibiting the disclosure of the Business’s confidential information and affirming the Business’s rights
in its intellectual and other property. To the Seller’s knowledge, (i) no such independent contractor or consultant is subject
to any secrecy or non-competition agreement or any agreement or restriction of any kind that would impede in any way the ability
of such person to carry out fully all activities of such person in furtherance of the Business, and (ii) no former employer or
client of any independent contractor or consultant rendering services to the Business has any claim of any kind whatsoever in respect
of any of the Intellectual Property.

 

Section
3.10      Employees.
The Seller has never had, and does not currently have, any employees.

 

Section
3.11      Compliance with Laws; Permits.
To the Seller’s knowledge, the Seller is not in violation of any applicable statute, rule, regulation, order or
restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of the Business
or the ownership of the Purchased Assets. The Seller has not received written notice of any investigation or regulatory proceeding
regarding the Business. The Seller has all franchises, permits, licenses, and any similar governmental authority necessary for
the conduct of the Business as now being conducted by them and a list of all such franchise, permits, licenses and other similar
authority are set forth on Section 3.11 of the Disclosure Schedules. The Seller is not in default in any material respect
of any of such franchises, permits, licenses or other similar authority.

 

Section
3.12      Investor Representations.

 

(a)             The
Seller understands that the Seller Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), by reason of a specific exemption from the registration provisions of the Securities Act which depends upon,
among other things, the bona fide nature of the investment intent and the accuracy of the Seller’s representations as expressed
herein. The Seller understands that the Seller Shares are “restricted securities” under applicable U.S. federal and
state securities laws and that, pursuant to these laws, the Seller must hold the Seller Shares indefinitely unless they are registered
with the Securities and Exchange Commission (the “SEC”) and qualified by state authorities, or an exemption
from such registration and qualification requirements is available. The Seller further acknowledges that if an exemption from
registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time
and manner of sale, the holding period for the Seller Shares, and on requirements relating to the Company which are outside of
the Seller’s control, and which the Company is under no obligation and may not be able to satisfy.

 

(b)            The
Seller understands that the Seller Shares and any securities issued in respect of or exchange for the Seller Shares, if certificated,
may bear restricted legends.

 

(c)             The
Seller represents that it is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.

 

 

 

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Section 3.13     
No Other Representations or Warranties. Notwithstanding anything contained in this Agreement, the Seller is not making
any representation or warranty, express or implied, beyond those expressly given in this Agreement.

 

Article
IV

Representations and warranties of THE COMPANY

 

The Company represents
and warrants to the Seller that the statements contained in this Article IV are true and correct as of the date hereof.

 

Section
4.01      Authorization.
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada. The Company
has all necessary corporate power and authority to execute and deliver this Agreement, to perform its obligations under this Agreement
and to consummate the transactions contemplated by this Agreement. The execution, delivery and performance by the Company of this
Agreement and the consummation by the Company of the transactions contemplated by this Agreement have been duly authorized by all
necessary action and no other proceedings on the part of the Company are necessary to authorize this Agreement or to consummate
the transactions contemplated by this Agreement. Accurate and complete copies of the Company’s organizational documents have
been delivered to the Seller. The Company has no subsidiaries and does not own any securities of any corporation or any other entity.

 

Section
4.02      Enforceability.
 This Agreement has been duly executed and delivered by the Company and, assuming the due authorization, execution and
delivery by the Seller, constitutes a legal, valid and binding obligation of the Company enforceable against it in accordance with
its terms, except in so for as enforcement may be limited by bankruptcy, insolvency, or other laws affecting generally the enforceability
of creditors rights and by limitations on the availability of equitable remedies.

 

Section 4.03     
No Breach. The execution and
delivery of this Agreement by the Company does not, and the performance of this Agreement by the Company and the consummation of
the transactions contemplated by this Agreement will not, (i) conflict with or violate in any material respect any law applicable
to the Company or by which any property or asset of the Company is bound or affected, (ii) conflict with or violate any provision
of the Company’s organization documents, or (iii) result in a breach of or constitute a default (or an event that without
notice or lapse of time or both would become a default) under, give to others any right of termination, amendment, acceleration
or cancellation of, result in triggering any payment or other obligations, or result in the creation of a lien on any property
or asset of the Company under any material note, bond, mortgage, indenture, contract, agreement, lease, license, permit, franchise
or other instrument or obligation to which the Company is a party or by which the Company or any property or asset of the Company
is bound or affected, except in the case of clauses (i) and (ii) for any such conflicts, violations, breaches, defaults or other
occurrences that would not, individually or in the aggregate, prevent the performance by the Company of its material obligations
under this Agreement or the consummation of the transactions contemplated by this Agreement.

 

Section 4.04     
Litigation.  There are no
(i) claims, suits, actions, citations, administrative or arbitration or other proceedings or governmental investigations pending
or, to the knowledge of the Company, threatened against the Company or asserted in connection with the transactions contemplated
by this Agreement or (ii) judgments, orders, writs, injunctions or decrees of any court or administrative agency involving or affecting
the Company.

 

Section
4.05      Capitalization.
As of the date hereof: 

 

(a)             the authorized capital stock of the Company consists of (i) 500,000,000 shares of common stock, of which 1,600,424 shares
are issued and outstanding, and (ii) 20,000,000 shares of preferred stock, of which 0 shares are issued and outstanding;

 

(b)            there
are no outstanding or authorized options, warrants, convertible securities, stock appreciation, phantom stock, profit participation
or other rights, agreements, arrangements or commitments of any character relating to the Seller Shares; and

 

(c)             there are no voting trusts, stockholder agreements, proxies or other agreements or understandings in effect with respect
to the voting or transfer of any of the Seller Shares.

 

 

 

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Section
4.06      Public Company Filings. The Company has
filed all required registration statements, prospectuses, reports, schedules, forms, statements and other documents (including
exhibits and all other information incorporated by reference) required to be filed by it with the SEC since October 1, 2015. The
Company has made available to the Seller all such registration statements, prospectuses, reports, schedules, forms, statements
and other documents in the form filed with the SEC. All such required registration statements, prospectuses, reports, schedules,
forms, statements and other documents (including those that the Company may file subsequent to the date hereof) are referred to
herein as the “Company SEC Reports.” As of their respective dates or, if amended or supplemented prior to the
date of this Agreement, as of the date of such amendment or supplement, each Company SEC Report (i) complied in all respects with
the requirements of the Securities Act, or the Securities and Exchange Act of 1934 (the “Exchange Act”), as
the case may be, and the rules and regulations of the SEC thereunder applicable to such Company SEC Reports and (ii) did not at
the time it was filed (or became effective), or if amended, supplemented or superseded by a filing prior to the date of this Agreement
then on the date of such superseding filing, amendment or supplement, contain any untrue statement of fact or omit to state a fact
required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading. The Company has made available to the Seller a complete and correct copy of any amendments or modifications,
which have not yet been filed with the SEC, but which are required to be filed, to agreements, documents or other instruments which
previously had been filed by Company with the SEC pursuant to the Securities Act or the Exchange Act.

 

Section 4.07     
Investment Company. The Company has been advised of the rules and requirements under the Investment Company Act of 1940,
as amended (the “Investment Company Act”). The Company is not, and after the transactions contemplated by this
Agreement, will not be, an “investment company” or an entity “controlled” by an “investment company”
within the meaning of the Investment Company Act and will conduct its business in a manner so that it will not become subject to
the Investment Company Act.

 

Section 4.08     
No Other Representations or Warranties. Notwithstanding anything contained in this Agreement, the Company is not making
any representation or warranty, express or implied, beyond those expressly given in this Agreement.

 

Article
V

Covenants

 

Section 5.01     
Pre-Closing Operations. Following
the execution of this Agreement and until the Closing Date, the Seller shall obtain the written consent of the Company prior to
entering into any agreement or incurring any liability related to the Business with an obligation or payment, individually or in
the aggregate, of Seller (or the Company upon assumption of such agreement or liability) in excess of $100,000 or for raw material
purchases in excess of $250,000. Any agreement or liability incurred by the Seller following the execution of this Agreement, but
prior to the Closing Date shall be expressly assignable by its terms and upon the Closing, the Seller shall, at the request of
the Company, assign such agreement to the Company.

 

Section 5.02     
Option Plan Matters.

 

(a)             Prior
to the Closing, the Company shall (i) obtain the approval of the Board to increase the number of shares of common stock reserved
under the 2020 Equity Plan by 194,150 shares, from 320,000 shares to 514,150 shares and (ii) file all required filings with the
SEC related to such amendment and approval. On or before the one year anniversary of such Board approval of the increase in the
number of shares of common stock reserved under the 2020 Equity Plan, the Company shall (i) obtain the approval of its stockholders
to increase the number of shares of common stock reserved for issuance under the 2020 Equity Plan and (ii) file all required filings
with the SEC related to such amendment and approval.

 

(b)             For the three (3) years following the Closing Date, the Company shall issue options for the purchase of shares of common
stock of the Company or equity compensation only as approved by the Board of Directors of the Company or the compensation committee
of the Company if one is established.

 

Section 5.03     
Employee Matters. As of the Closing, the Company shall terminate all of its employees other than Ken DeCubellis.

 

Section 5.04     
Press Releases and Announcements. No press releases or other public announcements related to this Agreement and the
transactions contemplated herein shall be issued without the other Party’s prior written consent, which consent shall not
be unreasonably withheld and shall be provided promptly following submission of the proposed press release or other public communication.
Notwithstanding the foregoing, the Company may make all required regulatory filings and public disclosures regarding this Agreement
and the transactions contemplated hereby, without the consent of the Seller; provided, however, if any required regulatory filing
or public disclosure is made by the Company, the Company shall promptly provide a copy of such to the Seller.

 

 

 

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Section 5.05     
Change of Name. No later than ten (10) business days following the Closing Date, the Seller shall (i) take all
action necessary to approve and authorize the amendment of its organizational documents to change its name to one sufficiently
dissimilar to the Seller’s present name, in Company’s judgment, to avoid confusion and (ii) take all actions requested
by the Company to enable the Company to change its name to the Seller’s present name after the Closing.

 

Section 5.06     
Schedule Updates. Following the execution of this Agreement and until the Closing Date, the Disclosure Schedules attached
hereto shall be updated as mutually agreed to by Seller and the Company. 

 

Section 5.07     
Equity Consent. The Company agrees to obtain the Seller's prior written consent before agreeing to issue any equity, options
or warrants for securities of the Company to be issued prior to the Closing Date, except for stock to be issued upon exercise of
options and warrants outstanding of as of the date hereof.

 

Section 5.08     
Seller Shares. The Company agrees that:

 

(a)             all
of the Seller Shares shall be duly authorized, validly issued, fully paid and non-assessable;

 

(b)            upon
consummation of the transactions contemplated by this Agreement, the Seller shall own all of the Seller Shares, free and clear
of all encumbrances;

 

(c)             all
of the Seller Shares shall be issued in compliance with applicable laws;

 

(d)            none of the Seller Shares shall be issued in violation of any agreement, arrangement or commitment to which the Company
is a party or is subject to or in violation of any preemptive or similar rights of any person;

 

(e)             at Closing there will be no outstanding or authorized options, warrants, convertible securities, stock appreciation, phantom
stock, profit participation or other rights, agreements, arrangements or commitments of any character relating to the Seller Shares.

 

Article
VI

termination

 

Section 6.01     
Termination Events. By notice
given prior to or at the Closing, subject to Section 6.02, this Agreement may be terminated:

 

(a)             by the Company if a material breach of any provision of this Agreement has been committed by the Seller and such breach
has not been waived by the Company;

 

(b)            by the Seller if a material breach of any provision of this Agreement has been committed by the Company and such breach
has not been waived by the Seller;

 

(c)             by mutual written consent of the Company and the Seller;

 

(d)            by the Company if the Closing has not occurred on or before October 31, 2020, or such later date as the Parties may agree
upon, unless the Company is in material breach of this Agreement or the reason for the delay is a failure by the Company to comply
with its obligations under this Agreement;

 

 

 

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(e)            by
the Seller if the Closing has not occurred on or before October 31, 2020, or such later date as the Parties may agree upon, unless
the Seller is in material breach of this Agreement or the reason for the delay is a failure by the Seller to comply with its obligations
under this Agreement;

 

(f)             by the Seller or the Company for any reason provided that the Termination Fee set forth in Section 6.03 is paid to
the non-terminating Party in advance of such termination; or

 

(g)            on or before the date that is twenty (20) days from the date hereof, by the Company if the background check report on either
of Ira Goldfarb or Claudia Goldfarb is unsatisfactory to the Company in its reasonable discretion; provided, however, that, such
time period shall be extended if either Ira Goldfarb or Claudia Goldfarb fail to reasonably cooperate in providing requested information
to complete the background check report and any follow-up questions.

 

Section 6.02     
Effect of Termination. Each Party’s right of termination under Section 6.01 is in addition to any other
rights it may have under this Agreement or otherwise, and the exercise of such right of termination shall not be deemed an election of
remedies. If this Agreement is terminated pursuant to Section 6.01, all obligations of the Parties under this Agreement
shall terminate, except that the obligations of the Parties set forth in Article VII; provided, however, that, nothing in
this Agreement shall relieve any Party from liability for fraud or any intentional breach of this Agreement.

 

Section 6.03     
Termination Fee. If this Agreement is terminated pursuant to Section 6.01(f), on the date of termination, the
terminating Party shall pay, by wire transfer of immediately available funds to an account specified by the non-terminating Party,
a termination fee of five million dollars ($5,000,000) (the “Termination Fee”).

 

Article
VII

SURVIVAL Of REPRESENTATIONS AND WARRANTIES; Indemnification

 

Section
7.01      Survival of Representations and Warranties.
All representations and warranties contained in this Agreement and in any Disclosure Schedule delivered in connection
herewith, unless otherwise expressly provided herein, shall survive the consummation of the transactions described herein for a
period equal to twelve (12) months from the Closing Date and may be fully and completely relied upon by each Party hereto, notwithstanding
any investigation heretofore or hereafter made by either of them or on behalf of either of them, and shall not be deemed merged
into any instruments or agreements delivered at Closing or thereafter.

 

Section
7.02      The Seller’s Indemnification. The
Seller hereby agrees to indemnify and save the Company, its shareholders, officers, directors, employees, agents, counsel, representatives,
successors and assigns (each, a “Company Indemnitee”) harmless from and against, for and in respect of, any
and all Damages arising out of or based upon or resulting from or in connection with or as a result of:

 

(a)            any
misrepresentation or breach of warranty by the Seller under this Agreement, or breach of, or failure to perform by the Seller,
any covenant or agreement of, or required to be performed by, the Seller under this Agreement;

 

(b)            the
existence or operation of the Business and Purchased Assets prior to the Closing; or

 

(c)             the assertion against the Company or the Purchased Assets of any liability or obligation of a contributing party (whether
absolute, accrued, contingent or otherwise and whether a contractual, tort or any other type of liability, obligation or claim)
not expressly assumed by the Company pursuant to this Agreement.

 

Section 7.03     
The Company’s Indemnification.
The Company hereby agrees to indemnity and save the Seller, its members, managers, agents, counsel, representatives, successors
and assigns (each, a “Seller Indemnitee”) harmless from and against, for and in respect of, any and all Damages
arising out of or based upon or resulting from or in connection with or as a result of:

 

(a)            any
misrepresentation or breach of warranty by the Company under this Agreement, or breach of, or failure to perform by the Company,
any covenant or agreement of, or required to be performed by, the Company under this Agreement;

 

 

 

    	 	9	 

     

    

 

(b)            the
existence or operation of the Company, the Business, or the Purchased Assets after the Closing; provided, that, the Company shall
have no indemnification obligation with respect to the existence or operations of the Purchased Assets after the Closing, if the
Damages claimed arise solely out of or result from the existence or operation of the Purchased Assets prior to the Closing; or

 

(c)            the
assertion against the Seller, the Purchased Assets, or the Assumed Liabilities of any liability or obligation of a contributing
party (whether absolute, accrued, contingent or otherwise and whether a contractual, tort or any other type of liability, obligation
or claim) expressly assumed by the Company pursuant to this Agreement.

 

Section 7.04     
Procedure.

 

(a)           A
Party claiming indemnification under this Agreement (an “Indemnified Party”) shall promptly (x) notify the
Party from whom indemnification is sought (the “Indemnifying Party”) of any third party claim or claims asserted
against the Indemnified Party (“Third Party Claim”) for which indemnification is sought and (y) transmit to
the Indemnifying Party a copy of all papers served with respect to such claim (if any) and a written notice (“Claim Notice”)
containing a description in reasonable detail of the nature of the Third Party Claim, an estimate of the amount of Damages attributable
to the Third Party Claim to the extent feasible (which estimate shall not be conclusive of the final amount of such claim), and
the basis of the Indemnified Party’s request for indemnification under this Agreement. The failure by an Indemnified Party
to promptly notify an Indemnifying Party of an indemnity claim shall not relieve an Indemnifying Party of its indemnity obligations
under this Agreement except to the extent the Indemnifying Party is prejudiced by such delay.

 

(b)           Within
fifteen (15) days after receipt of any Claim Notice (the “Election Period”), the Indemnifying Party shall notify
the Indemnified Party (x) whether the Indemnifying Party disputes its potential liability to the Indemnified Party with respect
to such Third Party Claim and (y) whether the Indemnifying Party desires, at the sole cost and expense of the Indemnifying Party,
to defend the Indemnified Party against such Third Party Claim. If the Indemnifying Party notifies the Indemnified Party within
the Election Period that the Indemnifying Party elects to assume the defense of the Third Party Claim, then the Indemnifying Party
shall have the right to defend, at its sole cost and expense and with counsel reasonably acceptable to the Indemnified Party,
such Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted diligently by the Indemnifying Party
to a final conclusion or settled at the reasonable discretion of the Indemnifying Party in accordance with this Section 7.04.
The Indemnifying Party shall have full control of such defense and proceedings. The Indemnified Party is hereby authorized, at
the sole cost and expense of the Indemnifying Party, to file, during the Election Period, any motion, answer, or other pleadings
that the Indemnified Party shall reasonably deem necessary or appropriate to protect its interests. If requested by the Indemnifying
Party, the Indemnified Party agrees to reasonably cooperate with the Indemnifying Party and its counsel in contesting any Third
Party Claim that the Indemnifying Party elects to contest, including the making of any related counterclaim against the person
asserting the Third Party Claim or any cross-complaint against any person. Except as otherwise provided herein, the Indemnified
Party may participate in, but not control, any defense or settlement of any Third Party Claim controlled by the Indemnifying Party
pursuant to this Section 7.04 and shall bear its own costs and expenses with respect to such participation.

 

(c)            If (x) the Indemnifying Party (A) fails to notify the Indemnified Party within the Election Period that the Indemnifying
Party elects to defend the Indemnified Party pursuant to the preceding paragraph, (B) notifies the Indemnified Party within the
Election Period that the Indemnifying Party elects to defend the Indemnified Party pursuant to the preceding paragraph, but indicates
that the Indemnifying Party disputes any portion of its potential liability to the Indemnified Party with respect to such Third
Party Claim, or (C) elects to defend the Indemnified Party but fails to prosecute or settle the Third Party Claim as herein provided
or (y) the Indemnified Party reasonably objects to such election on the grounds that counsel for such Indemnifying Party cannot
represent both the Indemnified Party and the Indemnifying Party because such representation would be reasonably likely to result
in a conflict of interest, then the Indemnified Party shall have the right to defend, at the sole cost and expense of the Indemnifying
Party, the Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted by the Indemnified Party to
a final conclusion or settled. The Indemnified Party shall have full control of such defense and proceedings. The Indemnifying
Party may participate in, but not control, any defense or settlement controlled by the Indemnified Party pursuant to this Section
7.04, and the Indemnifying Party shall bear its own costs and expenses with respect to such participation.

 

 

 

    	 	10	 

     

    

 

(d)            The
Indemnifying Party shall not settle or compromise any Third Party Claim unless (x) the terms of such compromise or settlement
require no more than the payment of money (i.e., such compromise or settlement does not require the Indemnified Party to admit
any wrongdoing or take or refrain from taking any action), (y) the full amount of such monetary compromise or settlement will
be paid by the Indemnifying Party, and (z) the Indemnified Party receives as part of such settlement a legal, binding, and enforceable
unconditional satisfaction and/or release, in form and substance reasonably satisfactory to it, providing that such Third Party
Claim and any claimed liability of the Indemnified Party with respect thereto is being fully satisfied by reason of such compromise
or settlement and that the Indemnified Party is being released from any and all obligations or liabilities it may have with respect
thereto. The Indemnified Party shall not settle or admit liability to any Third Party Claim without the prior written consent
of the Indemnifying Party unless (x) the Indemnifying Party has disputed any portion of its potential liability to the Indemnified
Party, and such dispute either has not been resolved or has been resolved in favor of the Indemnifying Party or (y) the Indemnifying
Party has failed to respond to the Indemnified Party’s Claim Notice.

 

(e)            In the event any Indemnified Party should have a claim against any Indemnifying Party hereunder that does not involve a
Third Party Claim, the Indemnified Party shall transmit to the Indemnifying Party a written notice (the “Indemnity Notice”)
describing in reasonable detail the nature of the claim, an estimate of the amount of Damages attributable to such claim to the
extent feasible (which estimate shall not be conclusive of the final amount of such claim), and the basis of the Indemnified Party’s
request for indemnification under this Agreement.

 

(f)             As promptly as possible after the Indemnified Party has given the Indemnity Notice to the Indemnifying Party pursuant to
Section 7.04, such Indemnified Party and the Indemnifying Party shall establish the merits and amount of such claim (by
mutual agreement, litigation, arbitration, or otherwise) and, within ten (10) business days of the final determination of the merits
and amount of such claim, the Indemnifying Party shall pay to the Indemnified Party immediately available funds in an amount equal
to such claim as determined hereunder.

 

Article
VIII

Miscellaneous

 

Section 8.01     
Notices. All notices, demands
and other communications given or delivered under this Agreement shall be in writing and shall be deemed to have been given when
personally delivered, mailed by first class mail, return receipt requested, or delivered by express courier service or emailed
(with hard copy to follow). Notices, demands, and communications to the Seller and the Company shall, unless another address is
specified in writing, be sent to the address or email indicated below:

 

	
        Notices to the Seller:

         

         

        S-FDF LLC

        1918 N Olive Street, Apartment 3302

        Dallas, TX 75201

        Attention: Ira and Claudia Goldfarb

        Email: claudia@s-fdf.com

         
	
        with a copy to (copy not constituting notice):

         

         

        Husch Blackwell LLP

        4801 Main Street, Suite 1000

        Kansas City, MO

        Attention: Steven F. Carman

        Email: steve.carman@huschblackwell.com

         

	 	 
	
        Notices to the Company:

         

         

        Black Ridge Oil & Gas, Inc.

        110 North 5th Street, Suite 410

        Minneapolis, MN 55403

        Attention: Ken DeCubellis

        Email: ken.decubellis@blackridgeoil.com

         
	
        with a copy to (copy not constituting notice):

         

         

        Stinson LLP

        50 South Sixth Street, Suite 2600

        Minneapolis, MN 55402

        Attention: Jill R. Radloff

        Email: jill.radloff@stinson.com

         

 

 

    	 	11	 

     

    

 

Section 8.02     
Parties in Interest. This
Agreement shall be binding upon, inure to the benefit of and be enforceable by the Parties hereto and their respective successors
and assigns.

 

Section 8.03     
Assignability. This Agreement
shall not be assignable by either Party hereto without the prior written consent of the other Party.

 

Section 8.04     
Entire Agreement; Amendment. Except as otherwise provided herein, this Agreement and the other writings referred to
herein or delivered pursuant hereto contain the entire understanding of the Parties hereto with respect to its subject matter.
There are no representations, promises, warranties, covenants or undertakings other than as expressly set forth herein or therein.
This Agreement supersedes all prior agreements and understandings between the Parties hereto with respect to its subject matter.
This Agreement may be amended or modified only by a written instrument duly executed by the Parties hereto, and any condition to
a Party’s obligations hereunder may only be waived in writing by such Party.

 

Section 8.05     
Headings. The article, section and paragraph headings contained in this Agreement are for reference purposes only and
shall not affect in any way the meaning or interpretation of this Agreement.

 

Section 8.06     
Counterparts. This Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be
deemed to be an original instrument, and all such counterparts together shall constitute but one agreement.

 

Section 8.07     
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada,
without giving effect to its principles of conflicts of law.

 

Section 8.08     
Waiver. Either Party to this Agreement may, by written notice to the other Party hereto, waive any provision of this
Agreement from which such Party is entitled to receive a benefit. The waiver to the other Party hereto of a breach of any provision
of this Agreement shall not operate or be construed as a waiver of any subsequent breach of such provision or any other provision
of this Agreement.

 

Section 8.09     
Severability. In the event that any provision, or part thereof, of this Agreement shall be held to be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions, or parts thereof, shall not in any way
be affected or impaired thereby.

 

Section 8.10     
Expenses. Except as otherwise set forth therein, each Party shall be responsible for its own legal fees and other costs
and expenses incurred in connection with this Agreement and the negotiation and consummation of the transactions contemplated hereby,
including any fees or commissions owed or payable to any broker or agent of such Party with respect to the transactions contemplated
by this Agreement.

 

Section 8.11     
Further Assurances. Each Party shall after the date hereof,
and without further consideration, execute and deliver to the other Party such additional instruments of conveyance as are reasonably
necessary to evidence more fully the transfers contemplated by this Agreement. On the terms and subject to the conditions
of this Agreement, each of the Parties shall use all commercially reasonable efforts to take, or cause to be taken, all appropriate
action, and to do, or cause to be done, all things (i) necessary, proper or advisable under law or (ii) reasonably requested by
the other Party to consummate the transactions contemplated by this Agreement, including using all commercially reasonable efforts
to obtain all licenses, permits, consents, approvals, authorizations, qualifications and orders of each governmental entity. If
at any time after the Closing, any further action is necessary or desirable to carry out the purposes of this Agreement, the proper
officers of each Party to this Agreement shall use all commercially reasonable efforts to take all such actions.

 

[signature page
follows]

 

 

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF,
the Parties have caused this Asset Purchase Agreement to be executed by their duly authorized representatives, all as of the day
and year first above written.

 

 

	 	THE SELLER:
	 	 
	 	S-FDF, LLC
	 	 
	 	 
	 	 
	 	By: _____________________
	 	Name: ___________________
	 	Title: ____________________
	 	 
	 	 
	 	 
	 	THE COMPANY:
	 	 
	 	BLACK RIDGE OIL & GAS, INC.:
	 	 
	 	 
	 	 
	 	By: ______________________
	 	Name: ____________________
	 	Title: _____________________

 

 

 

 

 

 

 

    	 	13	 

     

    

 

EXHIBIT A 

 

DEFINITIONS 

 

For the purposes of this Agreement, the following terms have
the meaning set forth below:

 

“2020 Equity
Plan” shall mean that certain 2020 Equity Plan of the Company, filed as Annex C to the Company's Definitive Schedule
14C Information Statement filed with the SEC on January 10, 2020, provided that the number of shares of the Company’s Common
Stock reserved for issuance under the 2020 Equity Plan shall be increased by 194,150 shares, from 320,000 shares to 514,150 shares.

 

“AESE Share
Proceeds” shall mean the gross sale proceeds of the Company’s shares in Allied Esports Entertainment, Inc. ("AESE")
other than the 537,100 shares of AESE that are subject to distribution rights to the Company's officers and directors under the
2018 Management Incentive Plan dated March 6, 2018 (“AESE Shares”) less amounts repaid by the Company to Cadence
Bank or any other financing sources that are secured by a pledge of AESE Shares.

 

“Amended and
Restated Articles of Incorporation” shall mean those certain Articles of Incorporation of the Company, as amended and
restated as necessary and appropriate to provide for the terms and conditions agreed to by the Parties.

 

“Company Contribution”
shall mean the sum of: (i) the AESE Share Proceeds, (ii) the proceeds from a financing secured by the AESE Shares after the date
hereof, (iii) the proceeds from an equity or convertible debt financing of Company securities, (iv) all of the Company’s
legal fees in connection with the transactions contemplated by this Agreement and (v) all expenses incurred by the Company after
August 1, 2020, except for severance or change in control payments made to the Company’s employees; provided, that, in no
event shall any amount be included in more than one of the above categories.

 

“Damages”
shall mean demands, judgments, injuries, penalties, damages, losses, obligations, liabilities,
claims, actions or causes of action, encumbrances, costs, expenses, and environmental liabilities (including without limitation
reasonable attorneys’ fees and expert witness fees), excluding punitive damages, suffered, sustained, incurred or required
to be paid by any Party.

 

“Employment
Agreements” shall mean those certain employment agreements of Ira Goldfarb, Claudia Goldfarb, and Ken DeCubellis, in
the form attached hereto as Exhibit B-1, Exhibit B-2, and Exhibit B-3, respectively.

 

“Final
Determination Date” shall mean (i) in the event that the Company Contribution is at least four million dollars ($4,000,000)
on or before January 1, 2021, then the final adjustment determination shall be made as of the first anniversary of the Closing,
or (ii) in the event that the Company Contribution is less than four million dollars ($4,000,000) on or before January 1, 2021,
then the final adjustment determination shall be made as of January 1, 2021.

 

“Outstanding
Shares” shall mean (one million six hundred thousand) 1,600,000 shares of common stock of the Company.

 

“Per Share
Adjusted Price” shall mean (x) nine million ($9,000,000) either (i) less the amount that the AESE Share Proceeds are
short of five million ($5,000,000) or (ii) plus the amount that the AESE Share Proceeds are in excess of six million ($6,000,000)
divided by (y) the Outstanding Shares.

 

“Registration
Rights Agreement” shall mean that certain Registration Rights Agreement of the Company, in the form attached hereto as
Exhibit C.

 

“Seller Value”
shall mean six million three hundred thousand dollars ($6,300,000).

 

 

 

 

    	 	14

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