Document:

Exhibit
10.20

 

[***]
Certain information in this document has been excluded pursuant to Regulation S-K, Item (601)(b)(10). Such excluded information
is not material and would likely cause competitive harm to the registrant if publicly disclosed.

 

UNREAL®
ENGINE 4

 

LICENSE
AGREEMENT

 

This
Agreement is entered into on August 11, 2020 (the “Effective Date”) by and between Epic Games International S.à
r.l., a Luxembourg Société á Responsibilité Limitée, having its principal business offices
at Atrium Business Park, 33 rue du Puits Romain, L8070 Bertrange, Grand-Duchy of Luxembourg, acting through its Swiss branch,
having its principal business offices at Platz 3, 6039 Root, Switzerland (“Epic”), and MS Gaming Development,
LLC , a Russian limited liability company with offices at Myasnitsakaya st., 17 building 1, 4th floor, office 37, Moscow, Russian
Federation 101000 (“Licensee”).

 

RECITALS

 

Epic
has developed a proprietary computer program known as the Unreal Engine 4 and grants to certain individuals and organizations
nonexclusive licenses to use the Unreal Engine 4 in object and source code form for the development of specific products.

 

Licensee
desires to enter into a nonexclusive, nontransferable and terminable license agreement with Epic pursuant to which Licensee will
devote its best efforts to develop, market, and sublicense certain products using the Unreal Engine 4 and Third Party Software.

 

AGREEMENT

 

NOW,
THEREFORE, for good and valuable consideration and in consideration of the mutual covenants and conditions herein contained,
Epic and Licensee agree as follows:

 

1.
DEFINITIONS. For the purposes of this Agreement, the terms set forth below shall be defined as follows:

 

a.
The term “Active Development Period” means the period from the Effective Date to [***].

 

b.
The term “Affiliate” means any person or entity that, either directly or indirectly, controls, is under common
control with, or is controlled by a party to this Agreement, whether such control is exercised by voting rights or otherwise.

 

c.
The term “Authorized Platform” means each of the hardware platforms listed on Exhibit A.

 

d.
The term “Authorized Product” means the software product identified on Exhibit A through Exhibit
A.X as the “Authorized Product” (increment X+1 for each additional Authorized Product) and developed for operation
on the Authorized Platform.

 

e.
The term “Derivative Technology” means a work of authorship (including software) that is based upon all or
any portion of the Licensed Technology, such as a translation, modification, correction, addition, extension, upgrade, improvement,
adaptation, abridgment, recasting, transformation, or elaboration.

 

f.
The term “Editing Tools” means the Editor and any tools based upon all or any portion of the Editor.

 

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g.
The term “Editor” means the Unreal Engine editor and other tools associated with the Unreal Engine 4 which
Epic chooses to make available to Licensee or its other Unreal Engine 4 licensees, including modules found with the Editor and
Developer source code folders, in each case for the Authorized Platform.

 

h.
The term “Enhancements” means any software developed by Licensee, for use in conjunction with the Licensed
Technology in the development of the Authorized Product and which is not a Derivative Technology.

 

i.
The term “Epic Marketplace” means the digital marketplace maintained by Epic or its Affiliates in connection
with the Unreal Engine 4.

 

j.
The term “Epic Trademarks” means the trademarks, service marks, trade names, and logos associated with Epic
and its Affiliates and their games and other intellectual property, including the Unreal® Engine.

 

k.
The term “Hosting Costs” means the actual and verifiable costs related to Authorized Product delivery and multi-player
network play. All other hosting-related costs, including cloud rendering solutions and online store hosting, are excluded.

 

l.
The term “Initial License Fee” has the meaning set forth in Section 3(a).

 

m.
The term “Intellectual Property Rights” means any and all tangible and intangible and now known or hereafter
existing (i) rights associated with works of authorship throughout the world, including copyrights, moral rights, and mask-works;
(ii) trademark and trade name rights and similar rights; (iii) trade secret rights; (iv) patents, designs, algorithms, and other
industrial property rights; (v) all other intellectual and proprietary rights (of every kind and nature throughout the world and
however designated) (including logos, character rights, “rental” rights, and moral rights), whether arising by operation
of law, contract, license, or otherwise; and (vi) all registrations, applications, renewals, extensions, continuations, divisions,
or reissues thereof (including rights in any of the foregoing).

 

n.
The term “License Fee Royalty” has the meaning as set forth in Section 3(b).

 

o.
The term “Licensed Technology” means (i) the proprietary computer software program known as the Unreal Engine
4 specifically for the Authorized Platform, (ii) the Editor, and (iii) any Updates. Licensed Technology shall include Third Party
Software other than where expressly excluded in this Agreement. Any artwork or other content assets that may be provided to Licensee
as an example by Epic are expressly excluded from Licensed Technology.

 

p.
The term “Product Revenue” means:

 

	 	(i)	(A)
    any and all amounts paid to or received by Licensee or any of its Affiliates by or from any source including, but not limited
    to, retail or electronic publishers or distributors (e.g., Apple, Microsoft, Sony, Valve Corporation, IGN, Best Buy, etc.)
    and advertising networks, in connection with or related to the Authorized Product, including, without limitation, any amounts
    from or related to Authorized Product sales, subscriptions, online play, in-product advertisements, downloadable content,
    purchase of virtual currency for the Authorized Product , in-product purchases that are not purchased with virtual currency,
    and purchases outside of the product for content or services related to the Authorized Product, less (only in cases where
    Licensee self-publishes the Authorized Product, and only to the extent that the following are not already deducted from the
    amounts that are paid to or received by Licensee) (B) actual and verifiable (1) third party platform holder (i.e., Apple,
    Google Play, Sony, Microsoft, Nintendo, Steam, etc.) license and manufacturing fees; (2) cash-based costs for returns, bad
    debts, rebates, credits, allowances, discounts and price protection; (3) for Authorized Products in hard copy (i.e., SKU form),
    shipping, transportation, insurance, and handling charges; (4) sales, use and value added taxes (5) third party payment processing
    fees, but only to the extent Licensee is self-distributing the Authorized Product; and (6) third party Hosting Costs directly
    related to gameplay (e.g., not costs associated with rendering farms, etc.).

 

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	 	(ii)	Any
    advances, development funds, or bonuses received by Licensee or any of its Affiliates (from a publisher, platform holder,
    storefront, or otherwise) for or in connection with the Authorized Product; and
	 	 	 
	 	(iii)	Any
    other revenue not described above that is paid to Licensee, Licensee’s Affiliates, or any third party publisher(s) or
    distributor(s) and which is from or related to the Authorized Product, but explicitly excluding recoupable investments from
    the Canadian Media Fund as well as any revenue generated by licensed ancillary products, including novels, comic books, apparel,
    theatrical productions, etc., unless such ancillary products are bundled with the Authorized Product or related digital game
    content.

 

For
the purpose of clarity, if an Authorized Product is both self-published and publisher-published, then the deductions set forth
in (i)(B) of this definition shall only apply to the portion of the revenue generated from the self-published Authorized Products.

 

Notwithstanding
the foregoing, “Product Revenue” does not include: (1) any revenues received by Licensee or any of its Affiliates
that are generated by any sale, transfer, or exchange of Editing Tools that is transacted through the Epic Marketplace; or (2)
any UGC Revenue received after Licensee’s first distribution of any Editing Tool (which, for clarity, may include the Editor)
pursuant to Section 2(b)(iii).

 

q.
The term “Sequel” means a new product with an original storyline based on the Authorized Product’s Intellectual
Property Rights.

 

r.
The term “Support” has the meaning set forth in Section 2(h).

 

s.
The term “Support Fee” has the meaning set forth in Section 3(c).

 

t.
The term “Support Period” means the period of time commencing on the Effective Date and ending upon the earlier
of (i) two (2) years thereafter and (ii) termination of this Agreement.

 

u.
The term “Territory” means worldwide.

 

v.
The term “UGC” means digital game content that is created or developed by end-user consumers for use with the
Authorized Product developed under this Agreement, including but not limited to art, sound, or gameplay modifications.

 

w.
The term “UGC Revenue” means any and all revenues received by Licensee or any of its Affiliates, or by any
third party publisher(s) or distributor(s) of an Authorized Product or UGC, that are generated by any sale, transfer, or exchange
of UGC.

 

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x.
The term “UGC Royalty” has the meaning set forth in Section 3(b).

 

y.
The term “Unreal Engine” means the Licensed Technology, excluding the Third Party Software.

 

z.
The term “Unreal Engine EULA” means the Unreal Engine End User License that Epic publishes on its web site
from time to time, under which Epic or its Affiliate grants to third parties nonexclusive licenses to use the Licensed Technology
in object or source code form for the development of products, which may be amended from time to time in Epic’s sole discretion.
As of the Effective Date, the Unreal Engine License is available at unrealengine.com/eula.

 

aa.
The term “Updates” means any improvements, enhancements, updates, fixes, and other changes to the Licensed
Technology which Epic chooses to make available to its licensees of the Unreal Engine and which are not marketed as separate stand-alone
programs.

 

2.
GRANT OF LICENSE; RESTRICTIONS; OBLIGATIONS.

 

a.
Effective upon the full execution of this Agreement, and subject to the terms and conditions of this Agreement, Epic hereby grants
to Licensee, and Licensee hereby accepts from Epic, a nonexclusive, nontransferable, terminable, and non-sublicensable license
within the Territory only to:

 

i.
use the Licensed Technology in object code format and in source code format internally for the purpose of developing Authorized
Products for the Authorized Platforms only;

 

ii.
use the Licensed Technology in object code format and in source code format internally for the purpose of developing Derivative
Technology for use in conjunction with the Authorized Products; and

 

iii.
incorporate the Licensed Technology and Derivative Technology (excluding any Editing Tools) only in object code format and only
in and as an inseparable part of the Authorized Products for the Authorized Platforms only.

 

b.
Effective only upon Epic’s receipt of the Initial License Fee for an Authorized Product, in full, and subject to the terms
and conditions of this Agreement, Epic hereby grants to Licensee, and Licensee hereby accepts from Epic, a nonexclusive, nontransferable,
terminable, and non-sublicensable (except as specifically provided herein) license within the Territory only to:

 

i.
distribute, and have distributed, the Licensed Technology and Derivative Technology (excluding any Editing Tools), only in object
code format, only in and as an inseparable part of the Authorized Product for the Authorized Platform, and only to end users pursuant
to an end user license agreement with terms consistent with and no less protective of Epic’s rights than those contained
herein and/or as may be otherwise specified in writing from time to time by Epic;

 

ii.
reproduce the Licensed Technology and Derivative Technology (excluding any Editing Tools) only in object code format and only
in and as an inseparable part of the Authorized Products;

 

iii.
distribute, and have distributed, Editing Tools only in object code format, only through the Epic Marketplace, and only to end
users who are licensed by Epic to use the Licensed Technology under the Unreal Engine EULA; provided, however, that such distribution
shall additionally be subject to the terms and conditions under which Epic makes the Epic Marketplace available to the public
for distribution of content (including any related payment or revenue sharing obligations); and

 

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iv.
reproduce Editing Tools only in object code form, and only as necessary for permitted distribution under Section 2(b)(iii).

 

c.
Licensee may sublicense the Licensed Technology and Derivative Technology (excluding any Editing Tools) only in object code format
and only in and as an inseparable part of the Authorized Product in order to grant end users the ability to use, or to permit
Licensee’s publishers and distributors to market and distribute, such Authorized Product. Licensee may sublicense Editing
Tools only in object code format and only in order to grant end users the ability to use the Editing Tools in accordance with
the terms of the Unreal Engine EULA. Licensee shall not, and the licenses granted in this Agreement do not include the right to,
grant sublicenses of the Licensed Technology or Derivative Technology (including any Editing Tools) except as expressly set forth
in this Section 2(c).

 

d.
If Licensee is not distributing a particular Editing Tool (which, for clarity, may include the Editor) pursuant to Section 2(b)(iii),
then Licensee shall not knowingly redistribute or have redistributed any UGC created using such Editing Tool, or derive any direct
financial benefit from the sale, transfer, or exchange of any such UGC.

 

e.
Licensee has the right to have third party contractors practice, on Licensee’s sole behalf, the license rights granted in
Sections 2(a) and 2(b) above. Licensee shall cause each such contractor to abide by all obligations of Licensee hereunder as if
it were a party to this Agreement. Licensee shall be directly and primarily responsible and liable for any acts or omissions of
such contractor in relation to any subject matter of this Agreement. Licensee shall not, and the licenses granted in this Agreement
do not include the right to, have any third party practice the license rights granted in Section 2(a) or Section 2(b) on Licensee’s
or any other person’s or entity’s behalf except as expressly set forth in this Section 2(e).

 

f.
The number of Authorized Products that Licensee is permitted to develop under the terms and conditions of this Agreement is: [***].
Licensee shall provide Epic with a completed
Exhibit A.X (in the form attached hereto) for each Authorized Product upon commencement of development of such Authorized Product.
Each Exhibit A.X provided by Licensee is subject to Epic’s prior written approval (e-mail acceptable) before becoming effective.
Each Sequel is a separate Authorized Product.

 

g.
Licensee acknowledges and agrees that: (i) Licensee shall have no right to use, copy, reproduce, incorporate, distribute, sublicense,
adapt, enhance, modify, display, perform, prepare derivative works of, exploit, or otherwise provide to third parties the Licensed
Technology, in whole or in part, except as expressly set forth in this Agreement; (ii) Licensee shall have no right to use, copy,
reproduce, incorporate, distribute, sublicense, adapt, enhance, modify, display, perform, prepare derivative works of, exploit,
or otherwise provide to third parties any Derivative Technology, in whole or in part, except as expressly set forth in this Agreement;
(iii) Licensee will have no other rights in and to the Licensed Technology other than those expressly licensed to Licensee under
this Agreement; and (iv) Licensee will have no other rights in and to any Derivative Technology other than those expressly licensed
to Licensee under this Agreement. All rights granted to Licensee pursuant to this Agreement are expressly granted by license only,
and Epic does not directly, by implication, estoppel, or otherwise, grant to Licensee any other rights or licenses hereunder.
Without limiting the foregoing, the licenses granted in this Agreement do not include any right to use, and Licensee shall not
use, the Licensed Technology or any Intellectual Property Rights therein (or any Derivative Technology or any Intellectual Property
Rights therein) in connection with the development of: (A) products that are not the Authorized Product, (B) game engines, (C)
any middleware other than Editing Tools, (D) any other software or code that are not a part of the Authorized Product, or (E)
any product that misappropriates any of Epic’s or Epic’s Affiliates’ other products or services. Additionally,
no title shall pass to Licensee in any copies or components of or Intellectual Property Rights in or to the Licensed Technology
or any Derivative Technology, notwithstanding anything contained herein to the contrary. Epic shall own all Derivative Technology,
and Licensee hereby assigns all right, title, and interest (including all Intellectual Property Rights) therein to Epic. However,
Licensee shall not provide Epic with any copies of or access to any Derivative Technology unless requested by Epic in writing.

 

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h.
Except with respect to Third Party Software, Epic shall use commercially reasonable efforts to provide the following support (“Support”)
during the Support Period: (i) provide Licensee with Updates to the Licensed Technology that Epic provides to its other Unreal
Engine licensees; and (ii) technical support via licensee forum. Epic has no obligation to support Licensee after the initial
Support Period, and the determination to offer support beyond the initial Support Period, and at what additional fee, shall be
made by Epic in its sole discretion.

 

i.
Nothing contained in this Agreement shall be deemed to restrict Epic’s ability to directly or indirectly acquire, license,
develop, produce, distribute, market or promote products competitive with Licensee’s business.

 

j.
The Licensed Technology includes third party software components (collectively, the “Third Party Software”).
To the extent such Third Party Software has separate software license and/or attribution requirements, the license or other attribution
requirements for those Third Party Software components can be found in the Perforce depot for each QA-approved build of the Licensed
Technology at //UE4/Main/Engine/Source/ThirdParty/Licenses. Such terms will govern Licensee’s use of the Third Party Software,
and if there is inconsistency, such terms shall supersede the license terms of this Agreement solely in relation to such Third
Party Software. Licensee shall not remove any copyright or other similar notice from any Third Party Software. Licensee is solely
responsible for determining and abiding by the Third Party Software license and attribution requirements for the version(s) of
the Licensed Technology that it is licensing from Epic. Without prejudice to anything to the contrary contained in this Agreement,
Licensee agrees that all terms and provisions of this Agreement shall be enforceable by the owner(s) of the Third Party Software
as a third party beneficiary directly against Licensee solely in relation to such Third Party Software. For the avoidance of doubt,
the immediately preceding sentence is not intended to allow the owner(s) of the Third Party Software to claim any right in the
payment of any fees hereunder, and the same shall be due and payable only to Epic.

 

k.
Upon confirmation by Epic of the full execution of this Agreement, Epic will provide Licensee a single point of access to the
Licensed Technology. From time to time during the Term, as Updates may be made available to its licensees by Epic, Epic will provide
Licensee a single point of access thereto. Epic does not have any obligation to make any particular improvements, enhancements,
updates, fixes, or other changes to the Licensed Technology available to its licensees. Nor does Epic have any obligation to continue
to make available for access any or all prior versions of the Licensed Technology, including any Updates thereto.

 

l.
Licensee shall provide Epic with: (i) for retail (packaged) Authorized Products, three (3) copies of the Authorized Products on
each Authorized Platform within thirty (30) days of such game’s release; and (ii) for online-only Authorized Products, notice
of a game’s release within thirty (30) days following its release and, where necessary to fully access and play the Authorized
Product, no less than three (3) access codes for free access to the Authorized Products. Retail (packaged) Authorized Products
shall be sent to Epic’s address specified above, or such other address as Epic may provide to Licensee during the term of
this Agreement, Attention: General Counsel. Access codes shall be sent to legal@epicgames.com.

 

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m.
Any other provision of this Agreement notwithstanding, Licensee shall not be permitted to engage in active development on new
or existing Authorized Products after the Active Development Period, and Authorized Products may only be first commercially released
to a general end-user audience under this Agreement during the Active Development Period. Following the Active Development Period,
Authorized Products which were first commercially released to a general end-user audience under this Agreement may continue to
be released and monetized, but no new Authorized Products may be released.

 

3.
PAYMENTS; TAXES; RECORDS

 

a.
Non-Recoupable; Non-Refundable Initial License Fee. No later than thirty (30) days following the Effective Date, Licensee
shall pay Epic the non-recoupable, non-refundable license fee payment equal to [***] as the “Initial License Fee”
for rights to the Licensed Technology granted by Epic to Licensee under this Agreement according to the following installments:

 

	 	(1)	[***] no
                                         later than October 15, 2020;

	 	 	 
	 	(2)	[***] no
                                         later than December 15, 2020.

 

Additionally,
Licensee shall have the option of adding additional Authorized Platforms to Exhibit A upon written notice to Epic of such addition
and the payment in full of a supplemental license fee of [***] per Authorized Platform added, no later than thirty (30)
days prior to launch on such additional Authorized Platform

 

b.
License Fee Royalty Payments. Licensee agrees to pay Epic license fee royalty payments equal to [***] of Product Revenue
(the “License Fee Royalty”). In addition, notwithstanding anything to the contrary in this Agreement, if Licensee
has distributed any Editing Tool(s) (which, for clarity, may include the Editor) pursuant to Section 2(b)(iii), then from and
after the first such distribution of Editing Tools, Licensee agrees to pay Epic royalty payments equal to [***] of UGC Revenue
(the “UGC Royalty”). Any other provision of this Agreement notwithstanding, if the full and complete Initial
License Fee has not been received by Epic, regardless of the reason, prior to the first monetization of the Authorized Product
(i.e., the first time when end users are able to purchase, license for money, or otherwise spend money in or on the Authorized
Product), the License Fee Royalty under this license shall irrevocably convert to a rate of the greater of (a) [***] of Product
Revenue or (b) the License Fee Royalty plus [***] of Product Revenue. Within forty-five (45) days after the close of each calendar
quarter, Licensee shall remit to Epic the full amount of all License Fee Royalties and UGC Royalties due for such quarter and
send Epic a detailed report setting forth the following:

 

(i)
The name of each Authorized Product to which the License Fee Royalties and UGC Royalties generated in such quarter apply.

 

(ii)
The country in which each such Authorized Product was developed.

 

(iii)
The total product revenue for each Authorized Product on a product type basis (i.e., initial product sales, downloadable
content, microtransactions, etc.).

 

(iv)
The following information broken out separately for each Authorized Product on a per platform basis: total Product Revenue and
total UGC Revenue for such quarter, total number of units sold, and total amount of License Fee Royalties and UGC Royalties due.
All payments paid by Licensee to Epic shall be non-recoupable and non-refundable. Payment of any UGC Royalties by Licensee shall
not be construed to relieve Licensee from or otherwise limit Licensee’s obligations under Section 2(d) or to limit any right
or remedy of Epic for breach thereof.

 

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c.
Support Fee. No later than thirty (30) days following the Effective Date, Licensee shall pay Epic the non-refundable license
support fee of [***] per year as the “Support Fee” for Epic’s provision of Support to Licensee under
this Agreement, in a lump sum of [***].
The Support Fee shall be recognized as [***]
per year over the two-year period of the Support Period.

 

d.
Payment Terms. All amounts due or payable to Epic under this Agreement shall be remitted by Licensee without issuance of
an invoice by Epic. Interest shall accrue on all amounts not paid at a rate, calculated upon the unpaid balance, of the lesser
of: (i) l.5% per month; or (ii) the highest rate allowed by law. Interest on unpaid balances shall compound monthly. All payments
made hereunder shall be payable in United States Dollars; all revenues realized in other currencies shall be converted to United
States Dollars at the officially published average exchange rates of the reporting period (using
rates published by an international bank or recognized exchange rate website - www.oanda.com, www.x- rates.com, www.xe.com).
All payments made by Licensee to Epic under this Agreement will be sent by wire transfer to the account of Epic’s choosing
as indicated below, which account may be changed from time to time on written notice from Epic to Licensee.

 

Beneficiary:
[OMITTED]

Beneficiary
Bank: [OMITTED]

Domestic
Account #: [OMITTED]

IBAN:
[OMITTED]

SWIFT
Code: [OMITTED]

Sort
Code: [OMITTED]

 

e.
Taxes. Licensee shall not be entitled to deduct the amount of any such taxes, including duties, assessments, value added
taxes and taxes as required by international tax treaties, customs or other import or export taxes, or amounts levied in lieu
thereof, based on charges set, services performed or payments made hereunder, from any payments due to Epic under this Agreement
without Epic’s prior written consent. For countries that offer withholding exemption treaties that may permit withholding
to be avoided, Epic will provide Licensee documentation sufficient to substantiate reduced (if any) withholding taxes subject
international tax treaties. In the event any taxes are withheld following written consent of Epic, Licensee shall furnish Epic
a tax withholding report detailing Initial License Fee, License Fee Royalty, or Support Fee amounts due less withholdings within
45 days of making payment to Epic. Any unauthorized tax withholdings or failure to provide report detailing any withholding may
result in unpaid Initial License Fee, License Fee Royalty, or Support Fee and shall be subject to terms and conditions contained
herein. In the event Epic does not receive withholding documentation sufficient to substantiate the withholding, Licensee shall
reimburse Epic for the difference within 30 days of notice by Epic.

 

f.
Records and Audits.

 

i.
Licensee agrees to keep proper records and books of account and proper entries therein relating to the manufacture, distribution,
and sale of the Authorized Products and any UGC, and of Product Revenue and UGC Revenue.

 

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ii.
Epic may cause an audit to be made of Licensee’s applicable records in order to verify statements rendered and amounts paid
(or unpaid) to Epic.Any such audit shall be conducted only by a certified public accountant (which can be an Epic employee,
contractor, or third party firm engaged to perform such services) after prior written notice to Licensee, and shall be conducted
during regular business hours at Licensee’s offices. In no event shall the audits be made hereunder more frequently than
twice annually. The results of any such audit shall be deemed Confidential Information of both parties (as such term is defined
in Section 7).

 

iii.
Costs for each audit and related activities will be paid for by Epic, unless the results of the audit show a shortfall in payments
owed to Epic for a calendar quarter exceed five percent (5%), in which case, Epic’s costs for the audit will be paid by
Licensee.

 

iv.
The rights and obligations of the parties under this Section 3(f) shall survive any expiration, termination or cancellation of
this Agreement for a period of five (5) years.

 

4.
WARRANTIES; DEFENSE.

 

a.
Epic’s Warranties.

 

i.
Epic represents and warrants solely for the benefit of Licensee that: (A) Epic is an entity validly existing and in good standing
under the laws of the jurisdiction in which it is organized; (B) it has the full right, power, legal capacity, and authority to
enter into this Agreement and to carry out the terms and conditions hereof and thereof; and (C) it has the right to grant to Licensee
each of the rights herein granted to Licensee.

 

ii.
Special Warranty as to Non-infringement. Epic represents and warrants, as of the Effective Date, that (A) the current version
of the Unreal Engine does not infringe any United States copyrights, or United States trademark rights of any third party, (B)
to its knowledge, such version of the Unreal Engine does not infringe any United States patent rights of any third party, and
(C) to its knowledge, as the Third Party Software included in the current version of the Licensed Technology does not infringe
any United States patent rights, United States copyrights, or United States trademark rights of any third party. THE WARRANTIES
SET FORTH IN THIS SECTION 4(a)(ii) SHALL NOT APPLY IF LICENSEE HAS BREACHED THIS AGREEMENT.

 

iii.
NO OTHER WARRANTIES. THE EXPRESS WARRANTIES SET FORTH IN SECTIONS 4(a)(i) AND 4(a)(ii) ARE IN LIEU OF, AND EPIC AND ITS
AFFILIATES DISCLAIM ANY AND ALL OTHER WARRANTIES, CONDITIONS, COMMON LAW DUTIES, AND REPRESENTATIONS (EXPRESS, IMPLIED, ORAL,
AND WRITTEN), WITH RESPECT TO THE LICENSED TECHNOLOGY, EPIC’S CONFIDENTIAL INFORMATION, EPIC TRADEMARKS, SUPPORT, AND ANY
OTHER MATERIALS, CODE, OR INFORMATION PROVIDED TO LICENSEE UNDER OR IN CONNECTION WITH THIS AGREEMENT (COLLECTIVELY, THE “EPIC
MATERIALS”), OR ANY PART THEREOF, INCLUDING ANY AND ALL EXPRESS, IMPLIED, AND STATUTORY WARRANTIES AND CONDITIONS OF ANY
KIND WHATSOEVER, INCLUDING THOSE OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, FITNESS OR SUITABILITY FOR ANY PURPOSE (WHETHER
OR NOT EPIC KNOWS, HAS REASON TO KNOW, HAS BEEN ADVISED, OR IS OTHERWISE IN FACT AWARE OF ANY SUCH PURPOSE), SYSTEM INTEGRATION,
ACCURACY OR COMPLETENESS OF RESPONSES OR RESULTS, REASONABLE CARE, WORKMANLIKE EFFORT, LACK OF NEGLIGENCE, AND LACK OF VIRUSES,
WHETHER ALLEGED TO ARISE UNDER LAW, BY REASON OF CUSTOM OR USAGE IN THE TRADE, OR BY COURSE OF DEALING. ANY WARRANTY AGAINST INFRINGEMENT
THAT MAY BE PROVIDED IN SECTION 2-312 OF THE UNIFORM COMMERCIAL CODE OR IN ANY OTHER COMPARABLE STATUTE IS EXPRESSLY DISCLAIMED
BY EPIC AND ITS AFFILIATES. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, EPIC AND ITS AFFILIATES MAKE NO WARRANTY THAT: (I)
ANY OF THE EPIC MATERIALS WILL OPERATE PROPERLY, INCLUDING AS INTEGRATED OR USED IN ANY PRODUCT; (II) THAT EPIC MATERIALS WILL
MEET LICENSEE’S REQUIREMENTS OR BE SUITABLE FOR THE AUTHORIZED PLATFORMS; (III) THAT THE OPERATION OF THE EPIC MATERIALS
WILL BE UNINTERRUPTED, BUG FREE, OR ERROR FREE IN ANY OR ALL CIRCUMSTANCES; (IV) THAT ANY DEFECTS IN THE EPIC MATERIALS CAN OR
WILL BE CORRECTED; (V) THAT THE EPIC MATERIALS ARE OR WILL BE IN COMPLIANCE WITH AN AUTHORIZED PLATFORM MANUFACTURER’S RULES
OR REQUIREMENTS; OR (VI) THAT AN AUTHORIZED PLATFORM MANUFACTURER WILL APPROVE ANY AUTHORIZED PRODUCT, OR WILL NOT REVOKE (ARBITRARILY
OR OTHERWISE) APPROVAL OF AN AUTHORIZED PRODUCT FOR ANY OR NO REASON AT ALL. THE WARRANTIES SET FORTH IN SECTION 4(a)(ii) SHALL
NOT APPLY IF THE LICENSEE HAS ALTERED THE LICENSED TECHNOLOGY. EPIC AND ITS AFFILIATES DO NOT GUARANTEE CONTINUOUS, ERROR-FREE,
VIRUS-FREE, OR SECURE OPERATION OF OR ACCESS TO THE EPIC MATERIALS. THIS PARAGRAPH WILL APPLY TO THE MAXIMUM EXTENT PERMITTED
BY APPLICABLE LAW.

 

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b.
Defense. Epic hereby agrees to defend Licensee from any claim, which, taking the claimant’s allegations to be true,
would result in a breach by Epic of Epic’s warranties set forth in Section 4(a)(ii) of this Agreement, EXCEPT to the extent
such claim: (A) is based upon or arises out of (I) any alteration or modification of the Unreal Engine or Third Party Software
created by any person other than Epic, (II) the operation or use of the Unreal Engine or Third Party Software in combination with
any other software or device, (III) any failure by Licensee, or others acting under Licensee’s authority or control, to
comply with Licensee’s obligations under this Agreement, or (IV) any customizations to the Licensed Technology requested
or made by Licensee; (B) is made against an Authorized Product containing Licensed Technology source code which differs from that
provided most recently by Epic; or (C) is in response to (e.g, is part of a counterclaim by a third party in response to) any
suit, action or claim made by Licensee against a third party which is unrelated to the Licensed Technology, in whole or in part.

 

i.
Conditions for Epic Defense. To be entitled to defense by Epic under Section 4(b) above: (A) Licensee shall advise Epic
in writing promptly of the existence of the claim, upon learning of the assertion of the claim against Licensee (whether or not
litigation or any other proceeding has been filed or served); and (B) Licensee shall permit Epic to have the sole right to control
the defense and/or settlement of all such claims, in litigation or otherwise, provided, however, if any settlement or compromise
admits wrongdoing by Licensee, Licensee shall have the right to pre-approve any such compromise or settlement in writing, such
approval not to be unreasonably withheld. Licensee, at its own expense, shall cooperate with Epic in all reasonable aspects in
connection with the defense of any such claim. Licensee will have the right to participate in the defense of the claim with separate
counsel of its own choice at its own expense.

 

ii.
Infringement Injunctions Obtained by Third Parties. If a claim defended by Epic under this Section 4(b) is sustained in
a final judgment from which no further appeal is taken or possible, and such final judgment includes an injunction prohibiting
Licensee from continued use of all or any portions of the Licensed Technology, then Epic shall, by its sole election and at its
expense, either: (A) procure the right to continue to use the Unreal Engine or Third Party Software pursuant to this Agreement;
or (B) replace or modify the Unreal Engine or Third Party Software to make it noninfringing; or (C) if neither of the foregoing
is commercially reasonable, direct Licensee to cease use of the Licensed Technology or of the specific function(s) of the Unreal
Engine or Third Party Software that resulted in the final judgment. For clarity, the foregoing remedy shall apply only to the
extent that such injunction is adjudged in such final judgment to arise from Epic’s infringement in breach of Section 4(a)(ii).
If Epic directs Licensee to cease use of the Unreal Engine or Third Party Software pursuant to this Section 4(b)(ii), then
Licensee will have the option to terminate this Agreement upon notice to Epic.

 

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iii.
Epic’s Responsibility for Infringement Monetary Awards. If a claim defended by Epic under this Section 4(b) is sustained
in a final judgment of a court of competent jurisdiction from which no further appeal is taken or possible, or pursuant to a bona
fide and final compromise or settlement of claims, then Epic will pay or otherwise satisfy any monetary award entered against
Licensee as part of such final judgment or pursuant to such compromise or settlement, but only to the extent that such award is
adjudged in such final judgment, or under such compromise or settlement, to arise from Epic’s infringement in breach of
Section 4(a)(ii); provided, however, any such monetary award is subject to the limitations of liability set forth in Section 6.

 

c.
Sole Remedy. Epic’s obligations under Section 4(b) are Licensee’s sole and exclusive remedies with respect
to any breaches or alleged breaches by Epic of Section 4(a)(ii) or any infringement by the Licensed Technology of any third party
Intellectual Property Rights.

 

d.
Licensee’s Warranties and Indemnity. Licensee represents and warrants for the benefit of Epic and its Affiliates
that: (i) Licensee is an entity validly existing and in good standing under the laws of the jurisdiction in which it is organized;
(ii) it has the full right, power, legal capacity, and authority to enter into this Agreement and to carry out the terms and conditions
hereof and thereof; (iii) that it is under no contractual or other legal obligation which would interfere in any way with the
full, prompt, and complete performance of its obligations pursuant to this Agreement; (iv) that it will conduct its business in
a manner that reflects favorably at all times on the Licensed Technology and the good name, goodwill and reputation of Epic; (v)
that it will avoid deceptive, misleading, or unethical practices that are or might be detrimental to Epic, the Licensed Technology,
or the public, including the disparagement of Epic or the Licensed Technology; (vi) that it will not make false or misleading
representations with regard to Epic or the Licensed Technology; (vii) that it will not publish, employ, or cooperate in the publication
or employment of any misleading or deceptive advertising material related to the Licensed Technology or Epic; (viii) that it will
not make representations, warranties, or guarantees to customers or to the trade, with respect to the specifications, features,
or capabilities of the Licensed Technology which are inconsistent with the literature distributed by Epic; (ix) it has executed
and entered into all appropriate and necessary licenses with the various console hardware manufacturers (for example, iOS, Xbox
One, PlayStation 4, etc.) or other applicable entities to make it a properly licensed developer for the Authorized Platforms prior
to accessing the Licensed Technology for the Authorized Platforms; and (x) the Licensee’s trademarks, trade names, service
marks, and logos, and the Authorized Products, do not and will not infringe or violate the Intellectual Property Rights of any
third party. Licensee further represents and warrants that, in the event that any case or claim is brought by Epic against Licensee
or by Licensee against Epic which is based on or relates to breach of a provision or provisions of this Agreement in which Epic
is the prevailing party, Licensee will pay all of Epic’s related attorney and expert witness fees and costs.

 

e.
Licensee agrees to indemnify, pay the defense costs of, and hold Epic and its Affiliates harmless from any and all claims, demands,
costs, liabilities, losses, expenses and damages (including attorneys’ fees, costs (including litigation costs and costs
incurred in the settlement or avoidance of any such claim), and expert witnesses’ fees) arising out of or in connection
with (i) any claim which, taking the claimant’s allegations to be true, would result in a breach by Licensee of any provisions
of this Agreement, including a breach by Licensee of its representations, warranties, responsibilities, or obligations set forth
in this Agreement, (ii) any claim that the Authorized Product, any Enhancement, or any other code or materials developed by or
for Licensee violates or infringes the Intellectual Property Rights of any third party, or (iii) any federal, state, or foreign
civil or criminal actions relating to the development, marketing, sale, or distribution of the Authorized Products.

 

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f.
If any action shall be brought against Epic in respect to which indemnity and/or defense cost payment may be sought from Licensee
pursuant to the provisions of Section 4(e), Epic shall promptly notify Licensee in writing, specifying the nature of the action.
Licensee shall cooperate with Epic, at Licensee’s expense, in all reasonable respects in connection with any such action.
Licensee shall reimburse Epic on demand for: (i) any and all defense costs incurred by Epic; and (ii) any payments made or loss
suffered by it at any time after the Effective Date, based upon the judgment of any court of competent jurisdiction or pursuant
to a compromise or settlement of claims, demands or actions, in respect to any damages to which the foregoing relates.

 

5.
INTELLECTUAL PROPERTY RIGHTS.

 

a.
Except as otherwise provided in this Section 5(a), as between the parties, Licensee shall retain ownership of all aspects of the
Authorized Product and the Enhancements, including all right, title, and interest in and to Authorized Product, and all Intellectual
Property Rights in the Authorized Product; provided, however, notwithstanding the foregoing: (i) Licensee shall not retain or
acquire ownership in any Epic Trademarks or Third Party Software; (ii) Epic shall retain ownership of all aspects of the Licensed
Technology, including all right, title, and interest in and to the Licensed Technology and all Intellectual Property Rights in
the Licensed Technology; and (iii) Epic shall retain ownership of all aspects of all Derivative Technology (regardless of creator),
including all right, title and interest in and to the Derivative Technology and all Intellectual Property Rights in the Derivative
Technology. Except as expressly provided in this Agreement, all rights granted by this Agreement to Licensee are by license as
expressly provided in this Agreement and nothing herein shall constitute a transfer of ownership of Epic’s Intellectual
Property Rights to Licensee or to any third party.

 

b.
As a condition of the license granted by Epic under this Agreement, Licensee agrees not to remove or destroy any copyright notices,
trademarks, or other proprietary or confidential legends or markings placed upon or contained within the Licensed Technology or
on any other documentation or materials related to the Licensed Technology. Licensee further agrees to place such copyright and
trademark notices as are set forth in Exhibit A under “Required Trademark Notice” and “Required Copyright
Notice” on and within the Licensed Technology, the Authorized Product and on any documentation or materials related to the
Licensed Technology. Licensee shall also place certain Epic logos in the Authorized Products and their packaging in accordance
with the “Required Logo Placement” section on Exhibit A (the “Required Logos”).

 

c.
Licensee acknowledges that Epic is the sole and exclusive owner of the Epic Trademarks. During the term of this Agreement, subject
to the terms and conditions of this Agreement, Epic hereby grants to Licensee a non-exclusive, non-transferable (except as provided
in Section 11(c)), non- sublicensable license to use the “UNREAL® Engine” mark and the “Unreal Engine”
logo (the “Permitted Epic Trademarks”) solely in connection with Licensee’s sub-licensing, advertisement
and promotion of the Authorized Products; provided, however, Licensee’s use of the Permitted Epic Trademarks shall be in
accordance with Epic’s trademark usage and cooperative advertising policies located at https://www.unrealengine.com/branding-guidelines-and-trademark-usage,
which are subject to update and revision by Epic from time to time. Licensee shall obtain the prior written approval of Epic for
its use of the Permitted Epic Trademarks in connection with all proposed marketing and promotional efforts incorporating the Permitted
Epic Trademarks. At Epic’s reasonable written request, Licensee shall, at Epic’s cost, promptly record the license
granted to it in this section in the relevant trademark registries in the countries in which it markets and distributes the Authorized
Product, and Epic shall provide reasonable assistance, at Epic’s cost, to enable Licensee to comply with this obligation.

 

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d.
Except as set forth in Section 5(b) and Section 5(c), Licensee has no rights with respect to any Epic Trademark. Licensee agrees
not to attach any trademarks, service marks, trade names, or logos to the Licensed Technology or Derivative Technology, other
than the Permitted Epic Trademarks and the Required Logos. Nothing contained in this Agreement shall give Licensee any interest
in the Epic Trademarks, and all use of the Epic Trademarks and goodwill derived from them shall inure to the benefit of Epic.
Epic and its Affiliates shall have sole right, in its and their discretion, to maintain the existing registrations of the Epic
Trademarks and prosecute any pending applications. Licensee shall provide, at the reasonable request of Epic, all necessary assistance
with such maintenance and prosecution. If Licensee acquires any rights in the Epic Trademarks, by operation of law or otherwise,
such rights shall be deemed and are hereby irrevocably assigned to Epic without further action by any of the parties. Licensee
agrees that it will not at any time during or after this Agreement: (i) assert or claim any interest in or do, or omit to do,
or permit to be done, anything which may dilute the Epic Trademarks or tarnish or bring into disrepute the reputation of or goodwill
associated with the Epic Trademarks or Epic, or which may adversely affect the validity or enforceability of any Epic Trademarks,
whether or not licensed to Licensee; (ii) register, seek to register, or cause to be registered any of Epic Trademarks (or any
marks confusingly similar thereto) without Epic’s prior written consent; (iii) register, seek to register, obtain any ownership
in, or otherwise utilize any website, domain name, URL, Internet presence, or other electronic communications portal which contains,
incorporates, or consists of any Epic Trademarks without Epic’s prior written consent; or (iv) develop and/or publish a
product with a name confusingly similar to any of the Epic Trademarks. In the event that Licensee registers or attempts to register
any Epic Trademarks, or registers, attempts to register, obtains any ownership in, or otherwise utilizes any website, domain name,
URL, Internet presence or other electronic communications portal in violation of this section, in addition to any rights Epic
may have, Licensee hereby acknowledges and agrees that any such trademark registration or website, domain name, URL, Internet
presence or other electronic communications portal, including any copyrights therein, shall be deemed to be property of Epic,
and Licensee hereby assigns all of its right, title, and interest therein and thereto to Epic.

 

e.
Licensee hereby grants to Epic a non-exclusive, fully-paid, royalty-free, worldwide, perpetual, irrevocable, sublicensable, non-terminable,
transferable, and assignable license to reproduce, distribute, publicly perform, publicly display, make, have made, use, sell,
offer to sell, import, modify, and make derivative works based on, and otherwise exploit any and all Feedback for all current
and future methods and forms of exploitation in any country. “Feedback” means suggestions, comments, ideas, and all
other types of information, including software and code, which (a) is given or communicated directly (including in connection
with or via the UDN) or indirectly by Licensee (including their employees, assignees, sub-licensees, agents, contractors, or representatives)
to Epic or its agents; and (b) relates to the Licensed Technology, the Derivative Technology, or their components. Any and all
Feedback shall be subject to Epic’s underlying rights in the subject matter of such Feedback.

 

f.
During the term of this Agreement, Epic is authorized by Licensee to use the Licensee trademarks, service marks, trade names,
logos, and packaging associated with the Authorized Products, as well as publicly released screen shots and video content from
the Authorized Products, in connection with Epic’s marketing, advertisement and promotion of the Licensed Technology in
any and all media throughout the universe without restriction.

 

g.
Each of the parties agrees to execute any documents and take any actions reasonably requested by the other in order to effectuate
any of the provision of this Section 5.

 

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6.
LIMITATION OF LIABILITY.

 

IN
NO EVENT SHALL EPIC, ITS LICENSORS, NOR ITS OR THEIR AFFILIATES, NOR ANY OF THEIR SERVICE PROVIDERS, SUPPLIERS, OFFICERS, DIRECTORS,
EMPLOYEES OR AGENTS BE LIABLE FOR LOSS OF PROFITS, OR ANY SPECIAL, PUNITIVE, EXEMPLARY, INCIDENTAL, INDIRECT OR CONSEQUENTIAL
DAMAGES ARISING OUT OF, RELATING TO OR IN CONNECTION WITH THIS AGREEMENT, INCLUDING THE BREACH OF THIS AGREEMENT BY EPIC, THE
EPIC MATERIALS, THE USE OF (OR INABILITY TO USE OR DELAY IN USE OF) THE EPIC MATERIALS, THE FUNCTIONALITY (OR LACK OF FUNCTIONALITY)
OF THE EPIC MATERIALS, ERRORS OR BUGS WITHIN THE LICENSED TECHNOLOGY, OR SUPPORT, WHETHER UNDER THEORY OF CONTRACT, TORT (INCLUDING
NEGLIGENCE), INDEMNITY, PRODUCT LIABILITY, OR OTHERWISE. IN NO EVENT SHALL EPIC’S LIABILITY ARISING UNDER, RELATING TO OR
IN CONNECTION WITH THIS AGREEMENT, INCLUDING ANY LIABILITY FOR DIRECT OR INDIRECT DAMAGES, LOSSES, OR INJURIES, AND ANY LIABILITY
UNDER SECTION 4(b)(iii) HERETO, EXCEED AN AMOUNT EQUAL TO THE LESSER OF: (I) THE TOTAL AMOUNT OF MONIES ACTUALLY RECEIVED BY EPIC
FROM LICENSEE PURSUANT TO THIS AGREEMENT; OR (II) FOUR HUNDRED AND FIFTY THOUSAND DOLLARS ($450,000.00). THE LIMITATIONS OF LIABILITY
SET FORTH IN THIS SECTION SHALL APPLY TO THE FULLEST EXTENT PERMISSIBLE AT LAW. NEITHER EPIC NOR ANY EPIC AFFILIATE, NOR ANY OF
THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS, SHALL BEAR ANY RISK, OR HAVE ANY RESPONSIBILITY OR LIABILITY, OF ANY
KIND TO LICENSEE OR TO ANY THIRD PARTIES WITH RESPECT TO THE QUALITY (OR LACK THEREOF), OPERATION (OR LACK THEREOF), OR PERFORMANCE
(OR LACK THEREOF) OF ALL OR ANY PORTION OF THE LICENSED TECHNOLOGY.

 

7.
CONFIDENTIALITY.

 

a.
“Confidential Information” of a party means any information, including all trade secrets, technical, economic, financial,
and marketing information, that relates to the business, strategies, or operations of such party or its Affiliates that is disclosed
by such party to the other party during the term of this Agreement. Without limiting the foregoing, the Licensed Technology, Derivative
Technology, and the Epic Materials shall constitute Confidential Information of Epic for all purposes under this Agreement. Confidential
Information may consist of information in any medium, whether oral, printed, in machine-readable form or otherwise, including
information disclosed orally and reduced to tangible or written form at any time during the term of this Agreement. Notwithstanding
anything to the contrary in this Agreement, Feedback shall not be considered Confidential Information of Licensee.

 

b.
The existence of a relationship between Epic and Licensee for the purposes set forth herein shall be deemed to be Epic’s
Confidential Information unless otherwise agreed to in writing by the parties or until publicly announced in accordance with Section
11(k). Licensee’s identity and the existence of this Agreement shall not be considered Licensee’s Confidential Information,
and Epic shall have the right to disclose such information to Third Party Software suppliers and others.

 

c.
The term for the protection of Confidential Information shall commence on the Effective Date and shall continue in full force
and effect as long as such Confidential Information continues to be maintained as confidential and proprietary by the disclosing
party.

 

d.
Each party shall, with respect to the other party’s Confidential Information:

 

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i.
Not disclose such Confidential Information to any person or entity, other than those employees or contractors who need to know
or have access to such Confidential Information for the purposes of this Agreement, and only to the extent necessary for such
purposes. Any employees or contractors who obtain access to such Confidential Information shall be advised by the receiving party
of the confidential nature of the Confidential Information, and the receiving party shall be responsible for any breach of this
Agreement by its employees or contractors.

 

ii.
Take all measures necessary to safeguard such Confidential Information in order to avoid disclosure, publication, or dissemination,
using as high a degree of care and scrutiny, but at least reasonable care, as is consistent with the protection of valuable trade
secrets by companies in high technology industries.

 

iii.
At the disclosing party’s request, return or destroy (and deliver to the disclosing party a certificate of destruction signed
by an authorized officer of the receiving party) promptly to the disclosing party any and all portions of such Confidential Information,
together with all copies thereof.

 

iv.
Not use such Confidential Information, or any portion thereof, except as provided herein.

 

e.
The foregoing restrictions shall not apply to any portion of the disclosing party’s Confidential Information which:

 

i.
was previously known to the receiving party without restriction on disclosure or use, as proven by written documentation of the
receiving party; or

 

ii.
is or legitimately becomes part of the public domain through no fault of the receiving party or its employees or contractors;
or

 

iii.
is independently developed by the receiving party’s employees who have not had access to such Confidential Information,
as proven by written documentation of the receiving party; or

 

iv.
is required to be disclosed by administrative or judicial action; provided that the receiving party must attempt to maintain the
confidentiality of such Confidential Information by asserting in such action the restrictions set forth in this Agreement, and,
promptly after receiving notice of such action or any notice of any threatened action, the receiving party must notify the disclosing
party to give the disclosing party the maximum opportunity to seek any other legal remedies to maintain such Confidential Information
in confidence as herein provided; or

 

v.
is approved for release by written authorization of the disclosing party.

 

f.
Disclosure of Confidential Information to a party under this Agreement shall not constitute any option, grant, or license from
the disclosing party to the receiving party under any Intellectual Property Rights now or hereinafter held by the disclosing party,
other than as expressly set forth in this Agreement. The disclosure of Confidential Information to a party hereunder shall not
give the receiving party any right to, directly or indirectly, develop, manufacture or sell any product derived from or which
uses any of such Confidential Information, other than as expressly set forth in this Agreement.

 

g.
If at any time the receiving party becomes aware of any unauthorized duplication, access, use, possession, or knowledge of any
of the disclosing party’s Confidential Information, it shall notify the disclosing party as soon as reasonably practicable.

 

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h.
The terms and conditions of this Agreement shall be treated as Epic’s Confidential Information and Licensee’s Confidential
Information; provided that each party may disclose the terms and conditions of this Agreement:

 

i.
to legal counsel;

 

ii.
in confidence, to accountants, banks and financing sources and their advisors;

 

iii.
in confidence, in connection with the enforcement of this Agreement or rights arising under or relating to this Agreement; and

 

iv.
if required, in the opinion of counsel, to file publicly or otherwise disclose the terms of this Agreement under applicable federal
and/or state securities or other laws, the disclosing party shall be required to promptly notify the other party such that the
other party has a reasonable opportunity to contest or limit the scope of such required disclosure, and the disclosing party shall
request, and shall use its best efforts to obtain, confidential treatment for such sections of this Agreement as the other party
may designate.

 

8.
TERM. The term of this Agreement shall commence upon the Effective Date and continue until terminated in accordance
with the provisions of this Agreement.

 

9.
TERMINATION; DISPOSITION AT TERMINATION.

 

a.
Epic shall have the right to terminate this Agreement immediately, by providing written notice of such election to Licensee, upon
the occurrence of any of the following:

 

i.
Licensee is delinquent in making payment of any sum due under this Agreement and continues to be delinquent (1) in the case of
the Initial License Fee, for a period of five (5) days after the last day on which such payment is due, (2) in the case of the
Support Fee, for a period of ten (10) days after the last day on which such payment is due, or (3) in the case of all other payments,
for a period of thirty (30) days after the last day on which such payment is due.

 

ii.
Licensee breaches any of its other obligations hereunder, or any other agreement entered into between Epic or Affiliates of Epic
and Licensee.

 

iii.
If during the term of this Agreement, Licensee develops commercial video game engine software which is competitive with the Licensed
Technology, or if a controlling interest in Licensee or in an entity which directly or indirectly has a controlling interest in
Licensee is transferred to a party that (A) is in breach of any agreement with Epic or an Affiliate of Epic; or

(B)
is in litigation with Epic or Affiliates of Epic concerning any proprietary technology or other Epic Intellectual Property Rights
or Epic’s Confidential Information. As used in this Section 9(a)(iii), “controlling interest” means, with respect
to any form of entity, sufficient power to control the decisions of such entity.

 

iv.
Licensee or any third party owning an equity interest of more than fifty percent (50%) of Licensee shall petition for reorganization,
readjustment or rearrangement of its business or affairs under any laws or governmental regulations relating to bankruptcy or
insolvency, or is adjudicated bankrupt or if a receiver is appointed for Licensee or such third party, or if Licensee or such
third party makes or attempts an assignment for the benefit of creditors, or is unable to meet its or their obligations in the
normal course of business as they fall due.

 

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v.
Licensee is dissolved, liquidated, or ceases to do business for any reason.

 

Licensee
shall immediately notify Epic in writing if any of the events or circumstances specified in this Section 9(a) occur.

 

b.
Licensee shall have the right to terminate this Agreement immediately, by providing written notice of such election to Epic, at
any time after payment of the Initial License Fee and Support Fee in full.

 

c.
Effect of Termination.

 

i.
With respect to physical copies of the Authorized Products (e.g., DVDs, CDs, etc.), within thirty (30) days of the date
of the effective date of termination, Licensee shall provide Epic with an itemized statement, certified to be accurate by an officer
of Licensee, specifying the number of unsold Authorized Products, which remain in its inventory and/or under its control at the
time of the effective date of termination. Epic shall be entitled to conduct at its expense a physical inspection of Licensee’s
inventory upon reasonable written notice during normal business hours in order to ascertain or verify such inventory and inventory
statement. With respect to all other copies of the Authorized Products (e.g., Authorized Products available for download),
distribution of such Authorized Products shall cease as of the effective date of termination. For the sake of clarity, any non-physical
versions of the Authorized Product, such as those made commercially available on-line, shall cease operations and commercialization
immediately in connection with termination.

 

ii.
Upon termination and subject to Section 9(c)(iii) below, the licenses and related rights herein granted to Licensee shall immediately
terminate in their entirety and revert to Epic, and Licensee shall cease any further use of Epic’s Confidential Information,
Epic Trademarks, the Licensed Technology, Derivative Technology, and any Epic Intellectual Property Rights therein, and, subject
to the provisions of Section 9(c)(iii) below, Licensee shall have no further right to continue the development, publication, manufacture,
marketing, sale or distribution of any units of the Authorized Product, or to continue to use any Epic Trademarks.

 

iii.
Provided that this Agreement is not terminated due to a breach or default of Licensee, Licensee may, upon termination of this
Agreement, sell off existing physical inventories of the Authorized Product, on a non-exclusive basis, for a period of ninety
(90) days from the date of termination of this Agreement, and provided such inventories have not been manufactured solely or principally
for sale during such period. Subsequent to the expiration of such ninety (90) day period, or in the event this Agreement is terminated
as a result of any breach or default of Licensee, any and all units of the Authorized Product remaining in Licensee’s inventory
shall be destroyed by Licensee within five (5) business days of such expiration or termination, as applicable. Within five (5)
business days after such destruction, Licensee shall provide Epic with an itemized statement, certified to be accurate by an officer
of Licensee, indicating the number of units of the Authorized Product which have been destroyed (on a title- by-title basis),
the location and date of such destruction and the disposition of the remains of such destroyed materials.

 

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iv.
Upon the termination of this Agreement, Licensee shall immediately deliver to Epic, or if and to the extent requested by Epic
destroy, all Licensed Technology, all Derivative Technology, and any and all copies thereof, and Licensee and Epic shall, upon
the request of the other party, immediately deliver to the other party, or if and to the extent requested by such party destroy,
all Confidential Information of the other party, including any and all copies thereof. Within five (5) working days after any
such destruction, Licensee or Epic, as applicable, shall provide the other party with an affidavit of destruction and an itemized
statement, each certified to be accurate by an officer of Licensee or Epic, as applicable, indicating the number of copies or
units of the Licensed Technology, Derivative Technology, or Confidential Information which have been destroyed, the location and
date of such destruction and the disposition of the remains of such destroyed materials. In the event that Licensee fails to return
the Licensed Technology, Derivative Technology, or Confidential Information and Epic must resort to legal means (including any
use of attorneys) to recover the Licensed Technology, Derivative Technology, or Confidential Information or the value thereof,
all costs, including Epic’s reasonable attorney’s fees, shall be borne by Licensee, and Epic may, in addition to Epic’s
other remedies, withhold such amounts from any payment otherwise due from Epic to Licensee under any agreement between Epic and
Licensee.

 

v.
Termination of this Agreement for any reason shall not relieve Licensee of any payment obligation incurred prior to such termination.
In the event of the termination of this Agreement, no portion of any payments of any kind whatsoever previously provided to Epic
hereunder shall be owed or be repayable to Licensee.

 

d.
In the event the Support Period expires or Support is terminated in accordance with the provisions hereof, neither Epic nor Licensee
shall be liable to the other because of such expiration, termination, or failure to renew or extend the Support Period, for any
compensation, damages, reimbursements, loss of prospective or anticipated profits based upon any expenditure, investments of capital,
leases, licenses, or commitments made by either Epic or Licensee for any reason whatsoever.

 

e.
EPIC AND ITS AFFILIATES SHALL NOT BE LIABLE TO LICENSEE FOR DAMAGES OF ANY KIND INCLUDING DIRECT, INDIRECT, SPECIAL, INCIDENTAL,
OR CONSEQUENTIAL DAMAGES ON ACCOUNT OF TERMINATION OF THIS AGREEMENT FOR ANY REASON WHATSOEVER EVEN IF EPIC HAS BEEN ADVISED OF
THE POSSIBILITY OF SUCH DAMAGES.

 

10.
COMPLIANCE WITH LAW. In connection with its obligations hereunder, Licensee agrees to comply with all laws, rules,
regulations, orders, decrees, judgments and other governmental acts of the United States of America, and of the Territory in which
the Licensed Technology may be licensed, and their political subdivisions, agencies and instrumentalities, that may be applicable
to the Licensee, its activities hereunder, or to the Licensed Technology. Epic and Licensee agree to take all such further acts
and execute all such further documents as the other party reasonably may request to assist either party in complying with the
laws, rules and regulations of the United States of America, the Territory and other countries applicable to either party’s
business and its activities hereunder.

 

11.
GENERAL PROVISIONS.

 

a.
Amendment. No modification or amendment of any provision of this Agreement shall be effective unless in writing and signed
by both of the parties. Notwithstanding the foregoing, Epic reserves the right to modify its trademark usage and cooperative advertising
policies from time to time in accordance with the terms of this Agreement.

 

b.
Notices. All notices or other communications required or desired to be sent to either of the parties shall be in writing
and shall be sent by registered or certified mail, postage prepaid, or sent by recognized international courier service, with
charges prepaid. The address for all notices or other communications required to be sent to Epic or Licensee, respectively, shall
be the mailing address stated in the preamble hereof, or such other address as may be provided by written notice from one party
to the other on at least ten (10) days’ prior written notice. Any such notice shall be effective upon the date of actual
or tendered delivery, as confirmed by the sending party.

 

    	18

    	 

    

 

c.
Assignment. Epic has entered into this Agreement based upon the particular reputation, capabilities and experience of Licensee
and its officers, directors, and employees. Accordingly, Licensee may not assign this Agreement or any of its rights hereunder,
nor delegate or otherwise transfer any of its obligations hereunder, to any third party unless the prior written consent of Epic
shall first be obtained; provided, however, that Licensee may assign this Agreement, without such consent, upon a transfer or
sale of all or substantially all of its business to which this Agreement relates to a third party, whether by merger, sale of
stock, sale of assets, or otherwise, provided in each case that such assignee delivers to Epic a written instrument, in form and
substance reasonably satisfactory to Epic, unconditionally agreeing to be bound by this Agreement. The foregoing notwithstanding,
to the extent the licenses granted herein are on a company-wide or unlimited Authorized Product basis, rather than for a single
or fixed number of Authorized Products, the license to develop or distribute additional Authorized Products not already commercially
released prior to assignment shall immediately terminate upon assignment of this Agreement. For clarity, if Licensee has developed
and distributed two Authorized Products prior to a permitted assignment, the assignee may continue to commercially distribute
those Authorized Product but the assignee is not permitted to develop or distribute any Authorized Products beyond the two already
released. Any attempted or purported assignment, delegation or other such transfer, directly or indirectly, in violation of the
foregoing shall be void. Subject to the foregoing, this Agreement shall inure to the benefit of the parties and their respective
successors and permitted assigns. Epic shall have the right to assign any and all of its rights and obligations hereunder to any
party.

 

d.
Independent Contractors. The relationship between Epic and Licensee, respectively, is that of licensor and licensee. Both
parties are independent contractors and are not the legal representative, agent, joint venturer, partner, or employee of the other
party for any purpose whatsoever. Neither party has any right or authority to assume or create any obligations of any kind or
to make any representation or warranty on behalf of the other party, whether express or implied, or to bind the other party in
any respect whatsoever.

 

e.
Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of North Carolina,
excluding that body of law related to choice of laws, and of the United States of America. Any action or proceeding brought to
enforce the terms of this Agreement or to adjudicate any dispute arising hereunder shall be brought in the Superior Court of Wake
County, State of North Carolina or the United States District Court for the Eastern District of North Carolina. Each of the parties
hereby submits itself to the exclusive jurisdiction and venue of such courts for purposes of any such action and agrees that any
service of process may be effected by delivery of the summons in the manner provided in the delivery of notices set forth in Section
11(b) above. The validity, construction and performance of this Agreement, and the legal relations among the parties to this Agreement
shall not be governed by the provisions of the 1980 United Nations Convention on Contracts for the International Sale of Goods
or the United Nations Convention on the Limitation Period in the International Sale of Goods, as amended.

 

f.
Governing Language. The original of this Agreement has been written in English. Licensee waives any right it may have under
the law of Licensee’s country to have this Agreement either written in the language of Licensee’s country or in the
language of any country in the Territory.

 

g.
Interpretation. All terms used herein in any one gender or number shall mean and include any other gender and number as
the facts, context, or sense of this Agreement may require. The section headings used in this Agreement are intended primarily
for reference and shall not by themselves determine the construction or interpretation of this Agreement or any portion hereof.
References to sections of an agreement refer to sections of this Agreement unless expressly stated otherwise. The words “include”,
“includes”, and “including” shall be deemed to be followed by the phrase “without limitation”
unless otherwise expressly indicated.

 

    	19

    	 

    

 

h.
Entire Agreement. This Agreement constitutes the entire agreement between Epic and Licensee and supersedes all prior or
contemporaneous agreements, proposals, understandings and communications between Epic and Licensee, whether oral or written, with
respect to the subject matter hereof including the Evaluation Agreement between the parties, if any. For clarity, the subject
matter of this Agreement shall not be governed by any Unreal® Engine End User License Agreement that Licensee has previously
entered into or subsequently enters into with Epic.

 

i.
Waiver. No failure or delay by either party in exercising any right, power or remedy under this Agreement shall operate
as a waiver of any such right, power or remedy. No waiver of any provision of this Agreement shall be effective unless in writing
and signed by the party against whom such waiver is sought to be enforced. Any waiver by either party of any provision of this
Agreement shall not be construed as a waiver of any other provision of this Agreement, nor shall such waiver operate or be construed
as a waiver of such provision respecting any future event or circumstance.

 

j.
Severability. In the event that any provision of this Agreement (or portion thereof) is determined by a court of competent
jurisdiction to be invalid or otherwise unenforceable, such provision (or portion thereof) shall be enforced to the extent possible
consistent with the stated intention of the parties, or, if incapable of such enforcement, shall be deemed to be deleted from
this Agreement, while the remainder of this Agreement shall continue in full force and remain in effect according to its stated
terms and conditions; provided, however, that if the absence of such provision causes a material adverse change in either the
risks or benefits of this Agreement to either party, the parties shall negotiate in good faith a commercially reasonable substitute
or replacement for the invalid or unenforceable provision.

 

k.
Press Release. In Epic’s sole discretion, the parties shall cooperate to jointly draft a press release regarding
the existence of their relationship as described in this Agreement and to jointly issue such press release. Each party must approve
the press release before it is issued.

 

l.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. If this Agreement is executed in counterparts, no signatory
shall be bound until all of the parties named below have duly executed or cause to be duly executed a counterpart of this Agreement.
Signatures by facsimile shall be deemed original signatures.

 

m.
Survival. The following Sections of this Agreement shall survive its expiration or termination for any reason: 2(g), 2(j),
3, 4, 5, 6, 7, 8, 9, 10 and 11.

 

n.
Remedies. Unless expressly set forth to the contrary, either party’s election of any remedies provided for in this
Agreement shall not be exclusive of any other remedies. Breaches of certain sections of this Agreement would cause significant
and irreparable harm to Epic, the extent of which would be difficult to ascertain. Accordingly, in addition to any other remedies
including equitable relief to which Epic may be entitled, in the event of a breach by Licensee or any of its employees or contractors
of any such sections of this Agreement, Epic shall be entitled to the immediate issuance without bond of ex parte injunctive relief
or, if a bond is required under applicable law, on the posting of a bond in an amount not to exceed $50,000, enjoining any breach
or threatened breach of any or all of such provisions.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	20

    	 

    

 

IN
WITNESS WHEREOF, each of the parties hereto has duly executed this Agreement effective as of the Effective Date.

 

	MS Gaming Development, LLC	EPIC GAMES INTERNATIONAL S.À R.L.

Acting Through Its Swiss Branch

	 	 
	By:	/s/
    Dmitry Kozko	By:	/s/
    Paul Spiering
	Name:	Dmitry
    Kozko	Name:	Paul
    Spiering
	Title:	CEO	Title:	Branch
    Manager

 

    	21

    	 

    

 

EXHIBIT
A.1

 

To
the Unreal Engine 4 License Agreement entered into on August 11, 2020 by and between Epic Games International S.à r.l.,
acting through its Swiss branch, (“Epic”), and MS Gaming Development, LLC (“Licensee”).

 

	LICENSED
    TECHNOLOGY:	UNREAL®
    ENGINE 4
	 	 
	AUTHORIZED
        PRODUCT: (Working

        Title
        OK):
	TBD
	 	 
	PROJECTED
    SHIP DATE	February
    26, 2021
	 	 
	NOTICE
    REQUIREMENT FOR AUTHORIZED PRODUCT:	Licensee
    must notify Epic of shipping product name and ship date for Authorized Product as soon as that information becomes available,
    but at least 180 days before Authorized Product publication. Licensee agrees to notify Epic of any ship date changes should
    the release schedule for the Authorized Product change.
	 	 
	AUTHORIZED
    PLATFORMS:	PC
	 	 
	REQUIRED
    TRADEMARK NOTICE:	“Unreal®
    is a trademark or registered trademark of Epic Games, Inc. in the United States of America and elsewhere”
	 	 
	REQUIRED
    COPYRIGHT NOTICE:	“Unreal®
        Engine, Copyright 1998 - 20xx, Epic Games, Inc.

        All
        rights reserved.”

        20xx
        = year you release the Authorized Product

	 	 
	REQUIRED
    LOGO PLACEMENT:	“Unreal
    Engine” logo on: (i) the physical packaging of the Authorized Product and non-video marketing materials; (ii) within
    the opening sequence or splash screen of the Authorized Product and related promotional videos; and (iii) in the Authorized
    Product manual. Licensee agrees that any display of the “Unreal Engine” logo will comply with the logo usage guidelines
    and logo image files that can normally be found at https://www.unrealengine.com/branding-guidelines-and- trademark-usage
    or by searching UDN or contacting branding@unrealengine.com for direct assistance.
	 	 

	Licensee
    Business Contact:	Licensee
    Technical Contact:
	 	 
	Name:	Roman
    Yegorov	Name:	Renat
    Nezametdinov
	 	 	 	 
	Title:	Executive
    Producer	Title:	Head
    of Moscow Office
	 	 	 	 
	Phone:	+1
    (305) 409-4149	Phone:	+7
    916 219 4368
	 	 	 	 
	E-mail:	roman.egorov@motorsport.com	E-mail:	enat.nezametdinov@motorsport.com

 

    	22

    	 

    

 

EXHIBIT
A.X

 

[COPY
AND PASTE AS NECESSARY TO NOTIFY EPIC OF ALL AUTHORIZED PRODUCTS]

 

To
the Unreal Engine 4 License Agreement entered into on August 11, 2020 by and between Epic Games International S.à r.l.,
acting through its Swiss branch, (“Epic”), and MS Gaming Development, LLC (“Licensee”).

 

	LICENSED
    TECHNOLOGY:	UNREAL®
    ENGINE 4
	 	 
	AUTHORIZED
        PRODUCT: (Working

        Title
        OK):
	 
	 	 
	PROJECTED
    SHIP DATE	 
	 	 
	NOTICE
    REQUIREMENT FOR AUTHORIZED PRODUCT:	Licensee
    must notify Epic of shipping product name and ship date for Authorized Product as soon as that information becomes available,
    but at least 180 days before Authorized Product publication. Licensee agrees to notify Epic of any ship date changes should
    the release schedule for the Authorized Product change.
	 	 
	AUTHORIZED
    PLATFORMS:	 
	 	 
	REQUIRED
    TRADEMARK NOTICE:	“Unreal®
    is a trademark or registered trademark of Epic Games, Inc. in the United States of America and elsewhere”
	 	 
	REQUIRED
    COPYRIGHT NOTICE:	“Unreal®
        Engine, Copyright 1998 - 20xx, Epic Games, Inc.

        All
        rights reserved.”

        20xx
        = year you release the Authorized Product

	 	 
	REQUIRED
    LOGO PLACEMENT:	“Unreal
    Engine” logo on: (i) the physical packaging of the Authorized Product and non-video marketing materials; (ii) within
    the opening sequence or splash screen of the Authorized Product and related promotional videos; and (iii) in the Authorized
    Product manual. Licensee agrees that any display of the “Unreal Engine” logo will comply with the logo usage guidelines
    and logo image files that can normally be found at https://www.unrealengine.com/branding-guidelines-and- trademark-usage
    or by searching UDN or contacting branding@unrealengine.com for direct assistance.

 

	Licensee
    Business Contact:	Licensee
    Technical Contact:
	 	 
	Name:	Name:
	 	 
	Title:	Title:
	 	 
	Phone:	Phone:
	 	 
	E-mail:	E-mail:

 

    	23Exhibit
10.23

 

STOCK
PURCHASE AGREEMENT

 

THIS
STOCK PURCHASE AGREEMENT (this “Agreement”), effective as of August 18, 2020, is entered into among HC2 Holdings
2, Inc., a Delaware corporation located at 450 Park Avenue, 30th Floor, New York, NY 10022 (“HC2”), Continental
General Insurance Company, a Texas insurance company located at 11001 Lakeline Blvd., Suite 120, Austin, TX 78717 (“Continental”
and, collectively with HC2, “Sellers”), and Motorsport Gaming US LLC, a Florida limited liability company located
at 5972 NE 4th Avenue, Miami, FL 33137 (“Buyer”).

 

WHEREAS,
HC2 owns 54,807 shares of common stock, par value $0.001 per share, of 704Games Company, a Delaware corporation (the “Company”),
and Continental owns 51,500 shares of common stock, par value $0.001 per share, of the Company (collectively all such shares owned
by both HC2 and Continental are referred to herein as the “Shares”);

 

WHEREAS,
Sellers, Buyer and the Company are parties to that certain Stockholders’ Agreement, dated as of August 14, 2018, by and
among the Company and certain of its stockholders (the “Stockholders’ Agreement”), and Section 3.2(f)(i)
of the Stockholders’ Agreement permits the transfer of the Shares from one stockholder of the Company to another in an arm’s
length transaction for fair market value; and

 

WHEREAS,
Sellers wish to sell and transfer to Buyer, and Buyer wishes to purchase from Sellers, the Shares, in accordance with Section
3.2(f)(i) of the Stockholders’ Agreement and 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:

 

1.
Purchase and Sale. Subject to the terms and conditions set forth herein, at the Closing (as defined in Section 2),
Sellers shall sell, transfer and assign to Buyer, and Buyer shall purchase from Sellers, all of Sellers’ right, title and
interest in and to the Shares, free and clear of all Encumbrances (as defined herein), at a price of $11.2881 per Share or an
aggregate purchase price for the Shares of One Million Two Hundred Thousand Dollars ($1,200,000) (the “Purchase Price”).

 

2.
Closing. Subject to the terms and conditions contained in this Agreement, the purchase and sale of the Shares contemplated
hereby shall take place at a closing (the “Closing”) to be on the date hereof concurrently with the execution
and delivery of this Agreement by the parties hereto (the “Closing Date”). At the Closing, each Seller shall
deliver to Buyer the stock certificates evidencing the Shares held by such Seller, free and clear of all Encumbrances (as defined
herein), duly endorsed in blank or accompanied by stock powers or other instruments of transfer duly executed in blank, and Buyer
shall deliver, via wire transfer of immediately available funds to accounts designated by Sellers, the Purchase Price allocated
among Sellers as set forth on Exhibit “A” attached hereto.

 

    	 

     

    

 

3.
Purchase Price Adjustment. If, within and including the date that is six (6) months from the date hereof, Buyer completes
a purchase of some or all of the (i) 41,204 shares of common stock, par value $0.001 per share, of the Company held by Gaming
Nation Inc., an Ontario corporation, or its affiliates and permitted transferees, (ii) 30,903 shares of common stock, par value
$0.001 per share, of the Company held by PlayFast Games, LLC, a North Carolina limited liability company, or its affiliates and
permitted transferees, or (iii) 10,301 shares of common stock, par value $0.001 per share, of the Company held by Leo Capital
Holdings, LLC, an Illinois limited liability company, or its affiliates and permitted transferees (each share referenced in clause
(i), (ii) or (iii), a “Subject Share”), for a purchase price per Subject Share that is higher than $11.2881
per share (i.e., the per Share Purchase Price hereunder), then Buyer shall (1) promptly notify each Seller, in writing, of the
completion of such purchase and (2) no later than five (5) business days following the completion of such purchase pay to each
of HC2 and Continental an amount per Share transferred by such Seller hereunder equal to the amount by which such purchase price
per Subject Share exceeds the greater of (A) the price per Share paid hereunder and (B) the highest price per share previously
paid by Buyer or its affiliates in respect of a Subject Share to any of the aforementioned sellers.

 

By
way of example only: If, (x) on the date that is one (1) month following the date hereof, Buyer purchases all of the Subject
Shares held by Gaming Nation Inc. for $12.2881 per Subject Share, (y) on the date this is two (2) months following the date hereof,
Buyer purchases all of the Subject Shares held by PlayFast Games, LLC for $11.5881 per Subject Share, and (z) on the date that
is six (6) months following the date hereof, Buyer purchases all of the Subject Shares held by Leo Capital Holdings, LLC for $13.7881
per Subject Share, then Buyer shall make the following payments to Sellers: (1) on the date that is one (1) month following the
date hereof, Buyer shall pay to each Seller $1.00 per Share sold by such Seller hereunder (the amount by which $12.2881 exceeds
$11.2881), (2) on the date that is two (2) months following the date hereof, Buyer shall not make a payment to Sellers hereunder
(the price per Subject Share (i.e., $11.5881) not exceeding the highest price per Subject Share previously paid by Buyer (i.e.,
$12.2881), and (3) on the date that is six (6) months following the date hereof, Buyer shall pay to each Seller $1.50 per Share
sold by such Seller hereunder (the amount by which $13.7881 exceeds $12.2881). For the avoidance of doubt, if the hypothetical
purchase of any Subject Share(s) is consummated at any time that is after 12:59 pm on the date that is the 6-month anniversary
of the date hereof, Buyer shall not be obligated to make any payment to Sellers hereunder in connection with such purchase. The
foregoing prices and calculations shall be adjusted proportionately for any stock splits, stock combinations, stock dividends
and the like occurring after the date of this Agreement. All payments made pursuant to this Section 3 shall be treated by Buyer,
Sellers and their respective affiliates, to the extent permitted by law, as an adjustment to the Purchase Price for income tax
purposes.

 

4.
Representations and Warranties of Sellers. Each Seller (severally and not jointly) hereby represents and warrants to Buyer
solely with respect to itself as follows:

 

(a)
HC2 is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. Continental
is an insurance company duly organized, validly existing and in good standing under the laws of the State of Texas.

 

(b)
Seller has all requisite power and authority to execute and deliver this Agreement, to carry out its obligations hereunder, and
to consummate the transactions contemplated hereby. Seller has taken all action necessary to authorize its entry into and performance
of its obligations under this Agreement. Seller has caused this Agreement to be executed and delivered on its behalf by its duly
authorized officer whose signature is set forth on its behalf on the signature page of this Agreement. Assuming due authorization,
execution and delivery by Buyer, this Agreement constitutes a legal, valid and binding obligation of Seller enforceable against
Seller in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium and other similar laws affecting the rights of creditors generally and the availability of equitable remedies.

 

    	2

     

    

 

(c)
Seller is the sole direct and beneficial owner of the Shares indicated as being owned or held by such Seller on Exhibit “A”
attached hereto, free and clear of all liens, pledges, security interests, charges, claims, encumbrances, agreements, options,
voting trusts, proxies and other arrangements or restrictions of any kind (“Encumbrances”), other than other
than (i) restrictions of general applicability imposed by federal state securities laws and (ii) restrictions on transfer set
forth in the Stockholders’ Agreement (each Encumbrances referenced in clause (i), (ii) or (iii), a “Permitted Encumbrance”).
Upon consummation of the transactions contemplated by this Agreement, Buyer will receive good and marketable title to all such
Shares as a consequence of the transactions contemplated hereby, free and clear of all Encumbrances, other than Permitted Encumbrances.

 

(d)
The execution, delivery and performance by Seller of this Agreement do not conflict with, violate or result in the breach of,
or create any Encumbrance on the Shares pursuant to, any agreement, instrument, order, judgment, decree, law or governmental regulation
to which Seller is a party or is subject or by which the Shares are bound.

 

(e)
No governmental, administrative or other third-party consents or approvals are required by or with respect to Seller in connection
with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

 

(f)
Seller has not entered into any agreements of any kind or nature binding upon the Company and/or the Shares which have not been
disclosed in writing to the Purchaser, other than the Stockholders’ Agreement. There are no material liabilities of Seller
relating to the Shares which have not been disclosed in writing to the Purchaser. There are no actions, suits, claims, investigations
or other legal proceedings pending or, to the actual knowledge of Seller, threatened against or by Seller that challenge or seek
to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.

 

(g)
No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with
the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Seller

 

(h)
Seller acknowledges that the Seller is under no compulsion to sell the Shares to Buyer and is completing the sale of the Shares
on the Seller’s own free will. The Seller (i) has sufficient knowledge and experience with and information about Buyer (including
Buyer’s business objective and current efforts to consummate a liquidity event or an initial public offering of Buyer as
soon as practicable) and the Company in order to be fully familiar with Buyer, the Company and its current business, operations,
assets, finances, financial results, financial condition and prospects and so as to be able to evaluate the risks and merits of
consummating the transactions contemplated by this Agreement, (ii) has full access to all books and records of the Company and
all of its contracts, agreements and documents and (iii) has had an opportunity to ask questions of, and receive answers from,
representatives of Buyer and the Company regarding Buyer, the Company and its current business, operations, assets, financing,
operating results, financial condition and prospects in order to make an informed decision to sell the Shares.

 

    	3

     

    

 

5.
Representation and Warranties of Buyer.

 

(a)
Buyer is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Florida.

 

(b)
Buyer has all requisite power and authority (including, without limitation, the resolutions adopted by the sole manager of Buyer
authorizing the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby)
to enter into this Agreement, to carry out its obligations hereunder and to consummate the transactions contemplated hereby. The
execution and delivery by Buyer of this Agreement, the performance by Buyer of its obligations hereunder and the consummation
by Buyer of the transactions contemplated hereby have been duly authorized by all requisite limited liability company action on
the part of Buyer. This Agreement has been duly executed and delivered by Buyer and (assuming due authorization, execution and
delivery by Seller) this Agreement constitutes a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance
with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and other
similar laws affecting the rights of creditors generally and the availability of equitable remedies.

 

(c)
Buyer is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer or sale
in connection with, any distribution thereof. Buyer acknowledges that the Shares are not registered under the Securities Act of
1933, as amended (the “Securities Act”), or any state securities laws, and that the Shares may not be transferred
or sold except pursuant to the registration provisions of the Securities Act of 1933, as amended or pursuant to an applicable
exemption therefrom and subject to state securities laws and regulations, as applicable.

 

(d)
No governmental, administrative or other third-party consents or approvals are required by or with respect to Buyer in connection
with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

 

(e)
There are no actions, suits, claims, investigations or other legal proceedings pending or, to the knowledge of Buyer, threatened
against or by Buyer that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.

 

(f)
No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with
the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Buyer.

 

(g)
Buyer, in making its decision to enter into this Agreement and consummate the transactions contemplated herein, is neither relying
on any representations or warranties of any person(s) other than Sellers nor its own due diligence investigation; rather Buyer
is solely relying on the representations and warranties of Sellers expressly set forth in Section 4 of this Agreement.

 

(h)
Buyer is able to evaluate the risks and benefits of acquiring the Shares, is able to bear the economic risk of owning the Shares
for an indefinite period of time, and is able to bear the loss of its entire investment in the Shares. Buyer is an “accredited
investor” within the meaning of Rule 501(a) of Regulation D promulgated under the Securities Act.

 

6.
Survival. All representations, warranties and covenants contained herein shall survive the execution and delivery of this
Agreement and the Closing hereunder; provided, however, that no party may bring any claim alleging or based on the
breach of any representation or warranty unless the party alleging breach gives the party alleged to have breached a representation
or warranty written notice in accordance with the provisions of Section 11 below within three (3) years after the Closing.

 

    	4

     

    

 

7.
Indemnification. Each of Buyer and Sellers hereby agrees to indemnify and hold harmless the other, and the other’s
Related Parties from and against any and all losses, costs, damages, liabilities or expenses actually incurred, including, without
limitation, reasonable and documented attorneys’ fees or other legal expenses or expert fees (collectively, “Damages”)
arising out of: (a) any breach in any representation or warranty made by the Indemnifying Party in this Agreement provided notice
of such breach is timely given in accordance with Section 6 above, or (b) any breach or failure of the Indemnifying Party to perform
any covenant or obligation of the Indemnifying Party set out in this Agreement. The obligation of each Seller under this Section
7 shall be solely with respect to breaches of that Seller’s own representations, warranties and covenants set forth herein.
Notwithstanding anything to the contrary set forth herein, the maximum aggregate Damages for which a Seller shall be liable hereunder
shall not exceed the portion of the Purchase Price paid to such Seller, as adjusted pursuant to Section 3. For purposes of this
Agreement, (x) “Related Party” means with respect to a person, any or its affiliates, or any of its or its
affiliate’s shareholders, directors, officers, managers, members, partners, trustees, employees, contractors, subcontractors,
attorneys, intermediaries, brokers or other agents, or representatives or any heir, personal representative, successor, or assign
of any of the foregoing; and (y) “Indemnifying Party” means either Buyer or one or more Sellers when indemnification
is sought from such Party pursuant to this Section 7, and “Indemnified Party” means Buyer, any Seller or any
Related Party of Buyer or any Seller when such Person is seeking indemnification from an Indemnifying Party pursuant to this Section
7. The provisions of this Section 7 provide the exclusive remedy for any breach of any representation, warranty or covenant set
forth in this Agreement.

 

8.
Further Assurances. Following the Closing, each of the parties hereto shall execute and deliver such additional documents,
instruments, conveyances and assurances, and take such further actions as may be reasonably required to carry out the provisions
hereof and give effect to the transactions contemplated by this Agreement.

 

9.
Release. Each Seller, for itself and on behalf of such Seller’s affiliates, successors and assigns, shareholders,
officers, directors, employees, contractors, affiliates, agents and their successors and assigns (collectively, the “Seller
Releasors”) hereby releases and forever discharges the Company, Buyer, Buyer’s members, shareholders, managers,
officers, directors, contractors, affiliates, heirs, successors, predecessors, assigns, agents, the Company’s post-Closing
shareholders, and all persons acting by, through or under each of them (collectively, the “Buyer Releasees”),
of and from any and all claims, debts, obligations and liabilities, whether known or unknown, contingent or non-contingent, at
law or in equity, in each case directly or indirectly arising from or in connection with, or relating to, the Company, the Company’s
business, the Shares or any agreements or obligations of the Company and/or Seller’s ownership of the Company or resulting
from Seller or any of its Related Parties having been a director, officer or employee of the Company, which the Seller Releasors
or any of them now have or had or may hereafter have against either the Company or the Buyer Releasees, or any them; provided,
however, that nothing in this Section 9 shall terminate or release Buyer’s obligations to Sellers under this Agreement
(or under any other agreement or instrument to be executed in conjunction with this Agreement in order to consummate the transactions
contemplated herein).

 

10.
Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall
be paid by the party incurring such costs and expenses.

 

    	5

     

    

 

11.
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder (each, a “Notice”)
shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement (or to such other
address that may be designated by the receiving party from time to time in accordance with this section). All Notices shall be
delivered by personal delivery, nationally recognized overnight courier (with all fees pre-paid), facsimile or e-mail of a PDF
document (with confirmation of transmission) or certified or registered mail (in each case, return receipt requested, postage
prepaid). Except as otherwise provided in this Agreement, a Notice is effective and shall be deemed to have been given or made
(a) when sent by facsimile with delivery receipt or by electronic mail, (b) one business day after being deposited with such overnight
courier service or (c) three business days after being deposited in the mail, in each case addressed to the party at its address
specified herein. Notices may also be given in any other manner permitted by law, effective upon actual receipt.

 

12.
Entire Agreement. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect
to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations
and warranties, both written and oral, with respect to such subject matter. There are no agreements, warranties, covenants or
undertakings regarding the subject matter of this Agreement other than those expressly set forth herein.

 

13.
Successor and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and permitted assigns. No party may assign any of its rights or obligations hereunder without the prior
written consent of the other parties hereto.

 

14.
Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

15.
Amendment and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing
signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth
in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay
in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof;
nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise
thereof or the exercise of any other right, remedy, power or privilege.

 

16.
Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such
invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render
unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid,
illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby
be consummated as originally contemplated to the greatest extent possible.

 

    	6

     

    

 

17.
Governing Law; Submission to Jurisdiction. This Agreement shall be governed by and construed in accordance with the internal
laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of
Delaware or any other jurisdiction). Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions
contemplated hereby may be instituted in the federal courts of the United States or the courts of the State of Delaware in each
case located in the State of Delaware, and each party irrevocably submits to the exclusive jurisdiction of such courts in any
such suit, action or proceeding. Service of process, summons, notice or other document by mail to such party’s address set
forth herein shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties
irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in such courts
and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any
such court has been brought in an inconvenient forum.

 

18.
Jury Trial Waiver. TO THE FULLEST EXTENT NOT PROHIBITED BY APPLICABLE LAW, WHICH CANNOT BE WAIVED, EACH OF THE PARTIES
HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND IRREVOCABLY WAIVES ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING
TO ENFORCE OR DEFEND ANY RIGHT, POWER, REMEDY OR DEFENSE ARISING OUT OF OR RELATED TO THIS AGREEMENT, WHETHER SOUNDING IN TORT
OR CONTRACT OR OTHERWISE, OR WITH RESPECT TO ANY COURSE OR CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN)
OR ACTIONS OF ANY PARTY RELATING TO THIS AGREEMENT; AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A JUDGE
AND NOT BEFORE A JURY. EACH OF THE PARTIES HERETO FURTHER WAIVES ANY RIGHT TO SEEK TO CONSOLIDATE ANY SUCH LITIGATION IN WHICH
A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER LITIGATION IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. FURTHER, EACH OF THE
PARTIES HERETO HEREBY CERTIFIES THAT NONE OF ITS REPRESENTATIVES, AGENTS OR ATTORNEYS HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT IT WOULD NOT, IN THE EVENT OF SUCH LITIGATION, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION. EACH OF THE
PARTIES HERETO ACKNOWLEDGES THAT THE PROVISIONS OF THIS SECTION ARE A MATERIAL INDUCEMENT TO THE ACCEPTANCE OF THIS AGREEMENT
BY THE OTHER PARTIES HERETO.

 

19.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this
Agreement.

 

[SIGNATURE
PAGE FOLLOWS.]

 

    	7

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above.

 

	 	HC2
    HOLDINGS 2, INC.
	 	 	 
	 	By	/s/
    Michael J. Sena
	 	Name:	Michael
    J. Sena
	 	Title:	CFO
	 	 	 
	 	CONTINENTAL
    GENERAL INSURANCE COMPANY 
	 	 	 
	 	By	/s/
    David Ramsey
	 	Name:	David
    Ramsey
	 	Title:	President
    & CEO
	 	 	 
	 	MOTORSPORT
    GAMING US LLC
	 	 	 
	 	By	/s/
    Dmitry Kozko
	 	Name:	Dmitry
    Kozko
	 	Title:	CEO

 

    	8

     

    

 

Exhibit
“A”

 

PURCHASE
PRICE ALLOCATION AND Wire Instruction

 

	Seller	 	Number
    of Shares held and owned by applicable Seller	 	Portion
    of the Purchase Price to be paid to applicable Seller
	 	 	 	 	 
	HC2
    Holdings 2, Inc.	 	54,807
    shares of common stock, par value $0.001 per share, of 704Games Company, a Delaware corporation	 	$618,664.81
        (i.e., 51.56% of the aggregate Purchase Price)

         

        

	 	 	 	 	 
	Continental
    General Insurance Company	 	51,500
    shares of common stock, par value $0.001 per share, of 704Games Company, a Delaware corporation	 	$581,335.19
    (i.e., 48.44% of the aggregate Purchase Price)

 

HC2
Holdings 2, Inc. wire instruction:

 

Attached

 

Continental
General Insurance Company wire instruction:

 

Attached

 

    	9

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