Document:

Exhibit 10.10

 

FORM OF EXPENSE ADVANCEMENT AGREEMENT

 

THIS EXPENSE ADVANCEMENT AGREEMENT (this “Agreement”), dated as of [________], 2017,
is made and entered into by and among Leisure Acquisition Corp., a Delaware corporation (the “Company”),
Hydra Management, LLC (“Hydra”), MLCP GLL Funding LLC (“MLCP”) and HG Vora
Special Opportunities Master Fund, Ltd. (“HG Vora” and together with Hydra and MLCP, the “Funding
Parties”).

 

RECITALS

 

WHEREAS, the Company is engaged in an
initial public offering (the “Offering”) pursuant to which the Company will issue and deliver up to 28,750,000
units (the “Units”) (including up to 3,750,000 Units subject to an over-allotment option granted to the
underwriters of the Offering), with each Unit comprised of one share of common stock, par value $0.0001 per share (the “Common
Stock”), of the Company and one-half of one warrant, each whole warrant exercisable to purchase one share of Common
Stock (only whole warrants are exercisable) at $11.50 per share, subject to certain adjustments (each, a “Warrant,”
and collectively, the “Warrants”);

 

WHEREAS, the Company has filed with the
Securities and Exchange Commission a registration statement on Form S-1, No. 333-XXXXXX (the “Registration Statement”)
for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units,
and the Warrants and Common Stock underlying the Units, including a prospectus (the “Prospectus”);

 

WHEREAS, the gross proceeds of the Offering
will be deposited in a trust account (the “Trust Account”) at J.P. Morgan Chase Bank, N.A. and managed
by Continental Stock Transfer & Trust Company, as trustee, as described in the Registration Statement and the Prospectus;
and

 

WHEREAS, the Funding Parties desire to
enter into this Agreement in order to facilitate the Offering and the other transactions contemplated in the Registration Statement
and the Prospectus, including any merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar
business combination by the Company with one or more businesses (a “Business Combination”).

 

NOW, THEREFORE, in consideration
of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1.             (a)             From time to time, as may be requested
by the Company, each of the Funding Parties agrees to advance to the Company from time to time up to the maximum amount allocated
thereto on Schedule I hereto on a pro rata basis (collectively, the “Advances”), up to a maximum
of $1,000,000 in the aggregate among all Funding Parties, in each instance pursuant to the terms of the form of promissory note
attached as Exhibit A hereto (the “Note”), as may be necessary to fund the Company’s expenses
relating to investigating and selecting a target business and other working capital requirements following the Offering and prior
to completion of any potential Business Combination.

 

     

     

    

  

(b)       Each
of the Funding Parties represents to the Company that they are capable of making such Advances to satisfy their respective obligations
under clause (a) of this Section 1. In addition, the Company acknowledges and agrees that the respective obligations of each of
the Funding Parties to provide such Advances are several and not joint, and that the failure of any Funding Party to fund any Advance
when due shall not impose any additional obligation on the other non-defaulting Funding Parties.

 

(c)       Notwithstanding
anything to the contrary herein or in the Note, each of the Funding Parties hereby irrevocably waives any and all right, title,
interest, causes of action and claims of any kind or nature whatsoever (each, a “Claim”) in or to, and
any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public
stockholders of the Company and into which substantially all of the proceeds of the Company’s initial public offering will
be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it presently has or may have
in the future as a result of, or arising out of, this agreement, which Claim would reduce, encumber or otherwise adversely affect
the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment
or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever;
provided, however, that if the Company completes a Business Combination, the Company shall promptly repay any amounts outstanding
under the Note out of the proceeds released to the Company from the Trust Account.

 

2.             This
Agreement, together with the Note, constitutes the entire agreement and understanding of the parties hereto in respect of the advancement
of expenses contemplated herein and supersedes all prior understandings, agreements, or representations by or among the parties
hereto, written or oral, to the extent they relate in any way thereto or to the transactions contemplated hereby in connection
therewith. This Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any
particular provision, except by a written instrument executed by the parties hereto.

 

3.             No
party may assign either this Agreement or any of his, her or its rights, interests, or obligations hereunder without the prior
written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall
not operate to transfer or assign any interest or title to the purported assignee. This Agreement shall be binding on the undersigned
and each of his or its heirs, personal representatives, successors and assigns including, in the case of the Company, any successor
thereto as a result of the completion of a Business Combination.

 

4.             All
notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently
provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other
communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business
day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery
to an overnight courier service or five (5) days after mailing if sent by mail. Such notice, statement or demand shall be addressed
as follows:

 

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If to the Company or Hydra Management, LLC or MLCP GLL Funding
LLC:

 

Leisure Acquisition Corp.

250 W. 57th Street, Suite 2223

New York, NY 10107

Attn: George Peng

 

with a copy in each case (which shall not constitute notice)
to:

 

Proskauer Rose LLP

Eleven Times Square

New York, New York 10036

Attn: Jeffrey A. Horwitz, Esq.

 

If to HG Vora Special Opportunities Master Fund, Ltd.:

 

HG Vora Capital Management, LLC

330 Madison Avenue, 20th Floor

New York, NY 10017

Attn: Mandy Lam, Esq.

 

5.             This
Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

6.             This
Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

7.             This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The
parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Agreement
shall be brought and enforced in the courts of New York, in the State of New York, and irrevocably submit to such jurisdiction
and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue
or that such courts represent an inconvenient forum.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be executed as of the date first written above.

 

	 	LEISURE ACQUISITION	 
	 	CORP.	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	PURCHASERS:	 
	 	 	 
	 	HYDRA MANAGEMENT, LLC	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	MLCP GLL FUNDING LLC	 
	 	 	 	 
	 	By:	Matthews Lane Capital Partners LLC, its Manager	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	HG VORA SPECIAL OPPORTUNITIES MASTER FUND, LTD.	 
	 	 	 	 
	 	By:	HG Vora Capital Management, LLC, as investment adviser	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

     

     

    

 

Schedule
I

Allocation

 

	 	 	Maximum Advances	 	 	Percentage	 
	HG Vora Special Opportunities Master Fund, Ltd	 	$	500,000.00	 	 	 	50.00	%
	Hydra Management, LLC	 	$	256,883.42	 	 	 	25.69	%
	MLCP GLL Funding LLC	 	$	243,116.58	 	 	 	24.31	%
	Total	 	$	1,000,000.00	 	 	 	100.00	%

 

     

     

    

 

Exhibit
A

Promissory Note

 

     

     

    

 

THIS PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY
AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN
OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY NOTE

 

Dated as of _____, 2017

Principal Amount: $____________

New York, New York

 

Pursuant to that certain Expense Advance Agreement (the “Agreement”),
dated as of [______], 2017, by and between Leisure Acquisition Corp., a Delaware corporation (the “Maker”),
and [________] (the “Payee”), the Maker hereby promises to pay to the order of the Payee or its registered assigns
or successors in interest, or order, the principal sum of _________ Dollars ($_________) in lawful money of the United States of
America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately
available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written
notice in accordance with the provisions of this Note. Certain terms used herein but not defined herein shall have the meaning
given to such terms in the Agreement.

 

This Note, together with (i) that certain Promissory Note, dated
as of the date hereof, between the Maker and [        ], and (ii) that certain Promissory Note,
dated as of the date hereof, between the Maker and [   ],  are collectively referred to as the Working Capital Promissory
Notes. The “Payees” under the Working Capital Promissory Notes are collectively referred to as the WC Payees and each
as an WC Payee.

 

1.           Principal.
The unpaid principal balance of this Note shall be payable on the date on which Maker consummates its Businesses Combination (the
“Maturity Date”). The principal balance may be prepaid at any time.

 

2.           Interest.
No interest shall accrue on the unpaid principal balance of this Note.

 

3.           Drawdown
Requests. Maker and Payee agree that Maker may request up to [                              
] ($[     ]) for working capital in connection with Maker’s pursuit of a Business Combination. The principal
of this Note may be drawn down from time to time prior to the Maturity Date, upon written request from Maker to Payee (each, a
“Drawdown Request”). Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than
Ten Thousand Dollars ($10,000). Payee shall fund each Drawdown Request no later than five (5) business days after receipt of a
Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under the Working Capital Promissory Notes
is [      ] ($[     ]) and that amounts of principal may only be drawn down upon under
this Note on a pro rata basis (based on the allocation set forth on Schedule I of the Agreement) with amounts drawn down
upon under the other Working Capital Promissory Notes. The obligation of each WC Payee to fund Drawdown Requests shall be several
and not joint. Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid.
No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.
Notwithstanding the foregoing, all payments shall be applied first to payment in full of any reasonable costs incurred in collection
of any sum due under this Note, including (without limitation) reasonable attorneys' fees, and then to the reduction of the unpaid
principal balance of this Note.

 

     

     

    

 

 

4.            Application
of Payments. All payments shall be applied first to payment in full of any reasonable costs incurred in the collection of any
sum due under this Note, including (without limitation) reasonable attorney’s fees, and then to the reduction of the unpaid
principal balance of this Note.

 

5.           Events
of Default. The following shall constitute an event of default (“Event of Default”):

 

(a)       Failure
to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business
days of the date specified above.

 

(b)       Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

(c)       Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker
in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering
the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period
of 60 consecutive days.

 

(d)       Cross
Defaults, Etc. The provision of notice of an Event of Default to Maker by any other WC Payee with respect to any other Working
Capital Promissory Note.

 

6.           Remedies.

 

(a)       Upon
the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

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(b)       Upon
the occurrence of an Event of Default specified in Section 5(b) or 5(c) hereof, the unpaid principal balance of this Note, and
all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without
any action on the part of Payee.

 

7.           Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or
sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

8.           Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9.           Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently
provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other
communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business
day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery
to an overnight courier service or five (5) days after mailing if sent by mail.

 

10.         Governing
Law; Construction; Jurisdiction. This Note shall be governed by and construed and enforced in accordance with the laws of the
State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The parties hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating
in any way to, this Note shall be brought and enforced in the courts of New York, in the State of New York, and irrevocably submits
to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive
jurisdiction and venue or that such courts represent an inconvenient forum.

 

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11.         Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

12.         Trust
Waiver. Notwithstanding anything herein to the contrary, the Payee hereby irrevocably waives any and all right, title, interest,
causes of action and claims of any kind or nature whatsoever (each, a “Claim”) in or to, and any and
all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public stockholders
of the Company and into which substantially all of the proceeds of the Company’s initial public offering will be deposited
(the “Trust Account”), and hereby irrevocably waives any Claim it presently has or may have in the future
as a result of, or arising out of, this agreement, which Claim would reduce, encumber or otherwise adversely affect the Trust Account
or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction
of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever; provided,
however, that if the Maker completes a Business Combination, the Maker shall promptly repay the principal balance of this Note
out of the proceeds released to the Maker from the Trust Account.

 

13.         Amendment;
Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the
Maker and the Payee.

 

14.         Assignment.
No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of
law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required
consent shall be void; provided, however, that the foregoing shall not apply to an affiliate of the Payee who agrees
to be bound to the terms of this Note.

 

15.         Conversion.

 

(a)       At
the Payee’s option, at any time prior to payment in full of the principal balance of this Note, the Payee may elect to convert
all or any portion of the outstanding principal amount of this Note into that number of warrants (the “Conversion Warrants”)
equal to: (i) the portion of the principal amount of the Note being converted pursuant to this Section 15, divided by (ii) $1.00,
rounded up to the nearest whole number. Each Conversion Warrant shall have the same terms and conditions as the warrants issued
by the Maker to the Payee pursuant to a private placement, as described in Maker’s Registration Statement on Form S-1 (333-XXXXXX).
The Conversion Warrants, the shares of Common Stock underlying the Conversion Warrants and any other equity security of Maker issued
or issuable with respect to the foregoing by way of a stock dividend or stock split or in connection with a combination of shares,
recapitalization, amalgamation, consolidation or reorganization (the “Warrant Shares”), shall be entitled to
the registration rights set forth in Section 16 hereof.

 

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(b)       Upon
any complete or partial conversion of the principal amount of this Note, (i) such principal amount shall be so converted and
such converted portion of this Note shall become fully paid and satisfied, (ii) the Payee shall surrender and deliver this Note,
duly endorsed, to Maker or such other address which Maker shall designate against delivery of the Conversion Warrants, (iii) Maker
shall promptly deliver a new duly executed Note to the Payee in the principal amount that remains outstanding, if any, after any
such conversion and (iv) in exchange for all or any portion of the surrendered Note, Maker shall deliver to Payee the Conversion
Warrants, which shall bear such legends as are required, in the opinion of counsel to Maker or by any other agreement between Maker
and the Payee and applicable state and federal securities laws.

 

(c)       The
Payee shall pay any and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion Warrants
upon conversion of this Note pursuant hereto; provided, however, that the Payee shall not be obligated to pay any transfer
taxes resulting from any transfer requested by the Payee in connection with any such conversion.

 

(d)       The
Conversion Warrants shall not be issued upon conversion of this Note unless such issuance and such conversion comply with all applicable
provisions of law.

 

16.         Registration
Rights.

 

(a)       Reference
is made to that certain Registration Rights Agreement between the Maker and the parties thereto, dated as of the date hereof (the
“Registration Rights Agreement”). All capitalized terms used in this Section 16 shall have the same meanings
ascribed to them in the Registration Rights Agreement.

 

(b)       The
holders (“Holders”) of the Conversion Warrants (or the Warrant Shares) shall be entitled to Demand Registration
as set forth in Section 2.1 of the Registration Rights Agreement.

 

(c)       The
Holders shall also be entitled to include the Conversion Warrants (or the Warrant Shares) in Piggyback Registrations, which shall
be subject to the same provisions as set forth in Section 2.2 of the Registration Rights Agreement; provided, however, that
in the event that an underwriter advises the Maker that the Maximum Number of Securities has been exceeded with respect to a Piggyback
Registration, the Holders shall not have any priority for inclusion in such Piggyback Registration.

 

(d)       Except
as set forth above, the Holders and the Maker, as applicable, shall have all of the same rights, duties and obligations set forth
in the Registration Rights Agreement.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, Maker, intending
to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

	 	LEISURE ACQUISITION CORP.	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:Exhibit 10.11

 
 

FORM OF LETTER AGREEMENT

 

	Leisure Acquisition Corp.

250 W. 57th Street

Suite 2223

New York, NY 10107	[_____], 2017

 

Re: Initial Public Offering

 

Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
proposed to be entered into by and between Leisure Acquisition Corp., a Delaware corporation (the “Company”),
and Morgan Stanley & Co. LLC, as representative of the several underwriters named therein (the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”) of 25,000,000 of the Company’s
units (the “Units”), each comprised of one share of the Company’s common stock, par value $0.0001 per
share (the “Common Stock”), and one-half of one warrant (each, a “Warrant”).
Each whole Warrant entitles the holder thereof to purchase one share of the Common Stock at a price of $11.50 per share, subject
to adjustment. Only whole warrants are exercisable. The Units shall be sold in the Public Offering pursuant to a registration statement
on Form S-1 (the “Registration Statement”) and prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company
shall apply to have the Units listed on the NASDAQ Capital Market. Certain capitalized terms used herein are defined in paragraph
12 hereof.

 

In order to induce the Company and the Underwriters
to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, each of Hydra Management, LLC (the “Hydra Sponsor”)
and Matthews Lane Capital Partners LLC (the “MLCP Sponsor” and together with the Hydra Sponsor, the “Sponsors”),
and each of MLCP GLL Funding LLC and Hydra LAC, LLC, each of which are affiliates of the Sponsors (the “Sponsor Affiliates”),
HG Vora Special Opportunities Master Fund, Ltd. (the “Strategic Investor”) and each of the undersigned
individuals, each of whom is a director or member of the Company’s management team or an affiliate thereof (each, an “Insider”
and collectively, the “Insiders”), hereby agrees with the Company as follows:

 

1.          Each
Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider agrees that if the Company seeks stockholder approval
of a proposed Business Combination, then in connection with such proposed Business Combination, it or he or she shall vote all
Founder Shares and any shares acquired by it or him or her in the Public Offering or the secondary public market in favor of such
proposed Business Combination.

 

     

     

    

  

2.          Each
Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider hereby agrees that in the event that the Company fails
to consummate a Business Combination (as defined in the Underwriting Agreement) within 24 months (or 27 months from the closing
of this offering if the Company has executed a letter of intent for an initial business combination within 24 months from the closing
of this offering but has not completed such initial business combination within such 24-month period, such additional three months,
the “extension period”) from the closing of the Public Offering, or such later period approved by the
Company’s stockholders in accordance with the Company’s amended and restated certificate of incorporation, the Sponsors,
the Sponsor Affiliates, the Strategic Investor and Insiders shall take all reasonable steps to cause the Company to (i) cease all
operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter,
redeem 100% of the Common Stock sold as part of the Units in the Public Offering (the “Offering Shares”),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest income
(net of taxes payable and any amounts released to the Company to fund working capital requirements and net of up to $75,000 of
interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely
extinguish Public Stockholders’ rights as stockholders (including the right to receive further liquidation distributions,
if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval
of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each
case to the Company’s obligations under Delaware law to provide for claims of creditors and other requirements of applicable
law. Each Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider agrees not to propose any amendment to the Company’s
amended and restated certificate of incorporation that would affect the substance or timing of the Company’s obligation to
redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 24 months (plus the extension
period, if applicable) from the closing of the Public Offering, unless the Company provides its public stockholders with the opportunity
to redeem their shares of Common Stock upon approval of any such amendment at a price per share, payable in cash, equal to the
aggregate amount then on deposit in the Trust Account including interest income (net of taxes payable and any amounts released
to the Company to fund working capital requirements and net of $75,000 of interest to pay dissolution expenses), divided by the
number of then outstanding public shares.

 

Each Sponsor, each Sponsor Affiliate, the Strategic Investor and
each Insider acknowledges that it or he or she has no right, title, interest or claim of any kind in or to any monies held in the
Trust Account or any other asset of the Company as a result of any liquidation of the Company prior to the Business Combination
with respect to the Founder Shares. Each of the Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider hereby
further waives, with respect to any shares of the Common Stock held by it or him or her, if any, any redemption rights it or he
or she may have in connection with the consummation of a Business Combination, including, without limitation, any such rights available
in the context of a stockholder vote to approve such Business Combination or in the context of a tender offer made by the Company
to purchase shares of the Common Stock (although each Sponsor, each Sponsor Affiliate, the Strategic Investor and Insider shall
be entitled to redemption and liquidation rights with respect to any shares of the Common Stock (other than Founder Shares) it
or they hold if the Company fails to consummate a Business Combination within 24 months (plus the extension period, if applicable)
from the closing of the Public Offering.

 

    	 	2	 

     

    

  

Each Sponsor, each Sponsor Affiliate, the Strategic Investor and
each Insider hereby waives any rights it or he or she may have to require registration of the Units, shares of Common Stock, Warrants
and any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, if any, in connection
with the filing of the registration statement relating to the Public Offering, provided, that for the avoidance of doubt such waiver
shall not apply to any registration rights applicable subsequent to completion of the Public Offering in the manner contemplated
in the Prospectus. Each Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider further agrees that, during the
period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, it or he or she will
not, without the prior written consent of Morgan Stanley & Co. LLC, make any demand for, or exercise any right with respect
to, the registration of the Units, shares of Common Stock, Warrants and any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by it, if any.

 

In addition, each Sponsor, each Sponsor Affiliate, the Strategic
Investor and each Insider hereby waives any and all preemptive rights, participation rights, resale rights, rights of first refusal
and similar rights that it or he or she may have in connection with the Public Offering or with any issuance or sale by the Company
of any equity or other securities before the Public Offering, provided, that for the avoidance of doubt such waiver shall not
apply to any registration rights applicable subsequent to completion of the Public Offering in the manner contemplated in the
Prospectus.

 

Subject to the exceptions set forth in paragraph 7(c) below, each
Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider hereby confirms that it or he or she has not, directly
or indirectly, taken, and hereby covenants that it or he or she will not, directly or indirectly, take, any action designed, or
which has constituted or will constitute or might reasonably be expected to cause or result in the stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of any Units, shares of Common Stock, Warrants or
any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, if any. Subject to the
exceptions set forth in paragraph 7(c) below, each Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider hereby
authorizes the Company and its transfer agent, during the period commencing on the effective date of the Underwriting Agreement
and ending 180 days after such date, to decline the transfer of or to note stop transfer restrictions on the stock register and
other records relating to any Units, shares of Common Stock, Warrants or any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by it, if any, subject to this Letter Agreement of which it or he or she is the record holder,
and, with respect to any Units, shares of Common Stock, Warrants or any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by it, if any, subject to this Letter Agreement of which it or he or she is the beneficial owner
but not the record holder, it or he or she hereby agrees to cause such record holder to authorize the Company and its transfer
agent, during the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, to
decline the transfer of or to note stop transfer restrictions on the stock register and other records relating to such shares or
other securities.

 

    	 	3	 

     

    

  

3.          Subject
to the exceptions set forth in paragraph 7(c) below, during the period commencing on the effective date of the Underwriting Agreement
and ending 180 days after such date, each Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider shall not (i)
sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree
to dispose of, directly or indirectly, file (or participate in the filing of ) a registration statement with the Commission or
establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section
16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder,
with respect to any Units, shares of Common Stock, Warrants or any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by it, if any, (ii) enter into any swap or other arrangement that transfers to another, in whole
or in part, any of the economic consequences of ownership of any Units, shares of Common Stock, Warrants or any securities convertible
into, or exercisable, or exchangeable for, shares of Common Stock owned by it, if any, whether any such transaction is to be settled
by delivery of such securities, in cash or otherwise, or (iii) publicly announce an intention to effect any transaction specified
in clause (i) or (ii). The foregoing sentence shall not apply to the registration of the offer and sale of Units as contemplated
by the Underwriting Agreement and the sale of the Units to the Underwriters (as defined in the Underwriting Agreement) in the Public
Offering. Each of the Insiders, the Strategic Investor and the Sponsors acknowledges and agrees that, prior to the effective date
of any release or waiver, of the restrictions set forth in this paragraph 3, other than pursuant to the exceptions contained in
paragraph 7(c) below, the Company shall announce the impending release or waiver by press release through a major news service
at least two business days before the effective date of the release or waiver. Any release or waiver granted shall only be effective
two business days after the publication date of such press release. The provisions of this paragraph will not apply to any release
or waiver granted solely to permit a transfer of securities that is not for consideration and where the transferee has agreed in
writing to be bound by the same terms described in this Letter Agreement.

 

4.          In
the event of the liquidation of the Trust Account, each Sponsor (each, an “Indemnitor”) agrees to indemnify
and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited
to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether
pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any claim by (i) any third
party for services rendered or products sold to the Company or (ii) a prospective target business with which the Company has entered
into an acquisition agreement (a “Target”); provided, however, that such indemnification
of the Company by each Indemnitor shall apply only to the extent necessary to ensure that such claims by a third party for services
rendered (other than the Company’s independent public accountants) or products sold to the Company or a Target do not reduce
the amount of funds in the Trust Account to below (i) $10.00 per share of the Offering Shares remaining outstanding or (ii) such
lesser amount per share of the Offering Shares remaining outstanding held in the Trust Account due to reductions in the value of
the trust assets as of the date of the liquidation of the Trust Account (other than due to the failure to obtain an agreement waiving
claims against the Trust Account, which waiver shall be substantially in the form of Annex A (a “Waiver”)),
in each case, such amount excludes the amount of interest income accrued in the Trust Account (net of taxes payable and any amounts
released to us to fund working capital requirements). Notwithstanding the foregoing, each Indemnitor’s obligations pursuant
to this paragraph shall not apply if such third party or Target has executed a Waiver, whether or not such Waiver is enforceable.
In the event that any such executed Waiver is deemed to be unenforceable against such third party or Target, each Indemnitor shall
not be responsible for any liability as a result of any such third party or Target claims. Notwithstanding any of the foregoing,
such indemnification of the Company by each Indemnitor shall not apply as to any claims under the Company’s obligation to
indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. Each
Indemnitor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company
if, within 15 days following written receipt of notice of the claim to each Indemnitor, such Indemnitor notified the Company in
writing that such Indemnitor shall undertake such defense.

 

    	 	4	 

     

    

  

5.          To
the extent that the Underwriters do not exercise their over-allotment option to purchase an additional 3,750,000 Units, the Sponsors,
the Sponsor Affiliates, the Strategic Investor and Insiders (other than Messrs. Marc Falcone, Steven Rittvo and David Weinstein)
agree that they shall return to the Company for cancellation, at no cost, a number of Founder Shares in the aggregate equal to
937,500 multiplied by a fraction, (i) the numerator of which is 3,750,000 minus the number of Units purchased by the Underwriters
upon the exercise of their over-allotment option, and (ii) the denominator of which is 3,750,000. The Sponsors, the Sponsor Affiliates,
the Strategic Investor and Insiders (other than Messrs. Marc Falcone, Steven Rittvo and David Weinstein) further agree that to
the extent that (a) the size of the Public Offering is increased or decreased and (b) the Sponsors, the Strategic Investor and
Insiders (other than Messrs. Marc Falcone, Steven Rittvo and David Weinstein) have either purchased or sold shares of Common Stock
or an adjustment to the number of Founder Shares has been effected by way of a stock split, stock dividend, reverse stock split,
contribution back to capital or otherwise, in each case in connection with such increase or decrease in the size of the Public
Offering, then (A) the references to 3,750,000 in the numerator and denominator of the formula in the immediately preceding sentence
shall be changed to a number equal to 15% of the number of shares included in the Units issued in the Public Offering and (B) the
reference to 937,500 in the formula set forth in the immediately preceding sentence shall be adjusted to such number of shares
of Common Stock that the Sponsors, the Sponsor Affiliates, the Strategic Investor and Insiders (other than Messrs. Marc Falcone,
Steven Rittvo and David Weinstein) would have to return to the Company in order to hold (with all of the pre-offering stockholders)
an aggregate of 20.0% of the Company’s issued and outstanding Common Stock after the Public Offering. For purposes of clarification,
nothing in this paragraph will impact the number of shares of Common Stock purchased by the Strategic Investor pursuant to the
Forward Purchase Contract (defined below).

 

6.           (a)          The
Sponsors, Sponsor Affiliates and each Insider hereby agrees not to participate in the formation of, or become an officer or director
of, another blank check company until the Company has entered into a definitive agreement regarding the initial Business Combination
or the Company has failed to complete the initial Business Combination within 24 months (plus the extension period, if applicable)
from the closing of the Public Offering.

 

(b)          Each
Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider hereby agrees and acknowledges that: (i) each of
the Underwriters and the Company would be irreparably injured in the event of a breach by such Sponsor, such Sponsor Affiliate,
the Strategic Investor or Insider of his or its applicable obligations under paragraphs 1, 2, 3, 4, 5, 6(a), 7(a), 7(b), 9 and
10 of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party
shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event
of such breach.

 

    	 	5	 

     

    

  

7.           (a)          Each
Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider agrees that it or he or she shall not Transfer any Founder
Shares held by it or him or her, if any, until the earlier of (A) one year after the completion of a Business Combination or (B)
the date following the completion of a Business Combination on which the Company completes a liquidation, merger, stock exchange
or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares
of Common Stock for cash, securities or other property (the “Founder Shares Lock-up Period”). Notwithstanding
the foregoing, if the last sale price of the Company’s Common Stock equals or exceeds $12.00 per share (as adjusted for stock
splits, stocks dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period
commencing at least 150 days after the Company’s initial Business Combination, the Founder Shares will be released from the
Founder Shares Lock-Up.

 

(b)          The
Sponsor and each Insider agrees that it or he or she shall not effectuate any Transfer of Private Placement Warrants or Common
Stock underlying such warrants, until 30 days after the completion of a Business Combination.

 

(c)          Notwithstanding
the provisions set forth in paragraphs 2, 3 and 7(a) and (b), Transfers of the Founder Shares, the Private Placement Warrants and
shares of Common Stock underlying the Private Placement Warrants are permitted (a) to the Company’s officers or directors,
any affiliates or family members of any of the Company’s officers or directors, any members of the Sponsors or the Strategic
Investor or any affiliates of the Sponsors or the Strategic Investor; (b) in the case of an individual or an entity controlled
by an officer or director of the Company, by a gift to a member of the individual’s, officer’s or director’s
immediate family or to a trust, the beneficiary of which is a member of one of the individual’s, officer’s or director’s
immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue
of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified
domestic relations order; (e) by private sales or transfers made in connection with the consummation of a Business Combination
at prices no greater than the price at which the shares were originally purchased; (f) in the event of the Company’s
liquidation prior to the completion of a Business Combination; (g) by virtue of the laws of Delaware or any of the Sponsors’
or Sponsor Affiliates’ limited liability company operating agreements upon dissolution of such person; (h) by virtue
of the laws of the Cayman Islands or the Strategic Investor’s memorandum and articles of association upon dissolution of
the Strategic Investor; or (i) in the event of completion of a liquidation, merger, capital stock exchange, reorganization
or other similar transaction which results in all of the Company’s stockholders having the right to exchange their shares
of Common Stock for cash, securities or other property subsequent to the completion of a Business Combination; provided, however,
that in the case of clauses (a) through (e) and (g) and (h), these permitted transferees must enter into a written agreement agreeing
to be bound by these transfer restrictions.

 

    	 	6	 

     

    

  

8.          Each
Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider represents and warrants that it or he or she has never
been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities
license or registration denied, suspended or revoked. Each Insider’s biographical information furnished to the Company is
true and accurate in all respects and does not omit any material information with respect to the undersigned’s background.
Each Insider’s questionnaire furnished to the Company is true and accurate in all respects. Each Insider represents and warrants
that: the undersigned is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order
or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; the
undersigned has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial
transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and the undersigned is
not currently a defendant in any such criminal proceeding.

 

9.          The
Strategic Investor agrees to enter into a securities purchase agreement in substantially the form attached as an exhibit to the
Registration Statement (the “Forward Purchase Agreement”) to purchase 6,250,000 Units at a price per
Unit of $10.00 per Unit, in a transaction exempt from the registration requirements of the Securities Act (the “Private
Placement”). The Private Placement will be completed concurrently with the completion of the initial Business Combination.
Neither the Company nor the Strategic Investor may waive the obligation of the undersigned to complete the Private Placement in
accordance with this paragraph 9 pursuant to the terms of the Forward Purchase Agreement.

 

10.         There
will be no restrictions on payments made to Insiders. However, prior to consummation of the Business Combination the Company shall
not make any payment to an Insider from the proceeds held in the Trust Account including, but not limited to repayment of loans
and advances of up to an aggregate of $400,000 made to the Company by the Hydra Sponsor, MLCP GLL Funding LLC and the Strategic
Investor; payment to an affiliate of Hydra Sponsor for office space, utilities and secretarial and administrative support for a
total of $10,000 per month; payment of fees and reimbursement of out-of-pocket expenses related to identifying, investigating and
consummating an initial Business Combination; and repayment of loans and advances up to an aggregate of $1,000,000 made to the
Company by the Hydra Sponsor, MLCP GLL Funding LLC and the Strategic Investor pursuant to the expense advance agreement between
us and the Hydra Sponsor, MLCP GLL Funding LLC and the Strategic Investor to cover working capital costs and to finance transaction
costs in connection with a Business Combination, provided, that, if the Company does not consummate a Business Combination, a portion
of the working capital held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds
from the Trust Account are used for such repayment. Up to $1,000,000 of such loans may be convertible into warrants at a price
of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants, including
as to exercise price, exercisability and exercise period.

 

11.         Each
Sponsor, each Sponsor Affiliate, the Strategic Investor and each Insider has full right and power, without violating any agreement
to which it is bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former
employer), to enter into this Letter Agreement. Mr. Weil and Mr. Silvers affirm that the material provision of any non-compete
or non-solicitation agreements to which they are a party have been disclosed to the Company.

 

    	 	7	 

     

    

  

12.         As
used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Founder
Shares” shall mean the 7,187,500 shares of Common Stock of the Company initially acquired by the Sponsors, the Sponsor
Affiliates, the Strategic Investor and the other initial stockholders of the Company for an aggregate purchase price of $25,000,
or approximately $0.003 per share, prior to the consummation of the Public Offering; (iii) “Private Placement
Warrants” shall mean up to 8,575,000 Warrants to purchase up to 8,575,000 shares of the Common Stock of the Company
that are acquired by Hydra LAC, LLC, and MLCP GLL Funding LLC, the Strategic Investor and certain members of the Company’s
management team for an aggregate purchase price of up to $8,575,000, or $1.00 per Warrant, in a private placement that shall occur
simultaneously with the consummation of the Public Offering; (iv) “Public Stockholders” shall mean
the holders of securities issued in the Public Offering; (v) “Trust Account” shall mean the trust
fund into which a portion of the net proceeds of the Public Offering shall be deposited; and (vi) “Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange
Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security,
(b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise,
or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

13.         This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not
be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by
a written instrument executed by all parties hereto.

 

14.         No
party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior
written consent of the other party, except as provided above. Any purported assignment in violation of this paragraph shall be
void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement
shall be binding on the Sponsors, the Sponsor Affiliates, the Strategic Investor and Insiders and their respective successors and
permitted assigns to whom a Sponsor transfers shares of the Company in compliance with this Letter Agreement. Any transfer made
in contravention of this Letter Agreement shall be null and void.

 

15.         This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this
Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submits
to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waives any objection to such exclusive
jurisdiction and venue or that such courts represent an inconvenient forum.

 

    	 	8	 

     

    

  

16.         Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery,
in each case to the address most recently provided to such party or such other address as may be designated in writing by such
party, or by facsimile transmission to the number most recently provided to such party or such other fax number as may be designated
in writing by such party.

 

17.         This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Founder Shares Lock-up Period or (ii) the liquidation
of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering
is not consummated and closed by June 30, 2018, provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature Page follows]

 

    	 	9	 

     

    

 

	 	HYDRA MANAGEMENT, LLC	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	HYDRA LAC, LLC	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	MATTHEWS LANE CAPITAL PARTNERS 

LLC	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:  	 
	 	 	Title:  	 
	 	 	 	 
	 	MLCP GLL FUNDING LLC	 
	 	 	 	 
	 	By:	Matthews Lane Capital Partners LLC, its manager	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:  	 
	 	 	Title:  	 
	 	 	 	 
	 	HG VORA SPECIAL OPPORTUNITIES

 MASTER FUND, LTD.	 
	 	 	 	 
	 	By:	HG Vora Capital Management, LLC, as investment adviser.	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:  	 
	 	 	Title:  	 

 

     

     

    

 

 

	 	LEISURE ACQUISITION CORP.	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:  A. Lorne Weil	 
	 	 	Title:  Executive Chairman	 
	 	 	 	 
	 	 	 	 
	 	 	A. Lorne Weil	 
	 	 	 	 
	 	 	 	 
	 	 	Daniel B. Silvers	 
	 	 	 	 
	 	 	 	 
	 	 	George Peng	 
	 	 	 	 
	 	 	 	 
	 	 	Eric Carrera	 
	 	 	 	 
	 	 	 	 
	 	 	Marc Falcone	 
	 	 	 	 
	 	 	 	 
	 	 	Steven Rittvo	 
	 	 	 	 
	 	 	 	 
	 	 	David Weinstein	 

 

     

     

    

  

Acknowledged and Agreed:

 

	LEISURE ACQUISITION CORP.	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

     

     

    

 

Annex A

 

Form of Waiver

 

[THIRD PARTY] hereby
irrevocably waives any and all right, title, interest, causes of action and claims of any kind or nature whatsoever (each, a “Claim”)
in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit
of the public stockholders of the Company and into which substantially all of the proceeds of the Company’s initial public
offering [will be][have been] deposited (the “Trust Account”), and hereby irrevocably waives any Claim it presently
has or may have in the future as a result of, or arising out of, this agreement, which Claim would reduce, encumber or otherwise
adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse,
reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account
for any reason whatsoever.

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