Document:

Exhibit 10.19

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (this “Agreement”)
is made and entered into this 15th day of December, 2021 (the “Effective Date”), by and between Bowlero Corp., a Delaware
corporation (the “Company”), and Thomas F. Shannon (the “Executive”).

 

THE PARTIES ENTER THIS AGREEMENT on the
basis of the following facts, understandings and intentions:

 

A.   The
Executive is currently employed by the Company, pursuant to that certain Employment Agreement, dated as of June 6, 2017 (the “Prior
Employment Agreement”).

 

B.   Effective
as of the Effective Date, this Agreement shall govern the employment relationship between the Executive and the Company and shall supersede
the Prior Employment Agreement.

 

C.   The
Executive desires to be employed by the Company on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the
above recitals incorporated herein and the mutual covenants and promises contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby expressly acknowledged, the parties agree as follows:

 

1. Retention
and Duties.

 

 

1.1 Retention.
The Company hereby hires, engages and employs the Executive for the Period of Employment (as such term is defined in Section 2)
on the terms and conditions expressly set forth in this Agreement. The Executive does hereby accept and agree to such hiring, engagement
and employment, on the terms and conditions expressly set forth in this Agreement.

 

1.2 Duties. During the Period
of Employment, the Executive shall serve the Company as its Chief Executive Officer and shall have the powers, authorities, duties
and obligations of management usually vested in the office of Chief Executive Officer of a company of a similar size and similar
nature of the Company, and such other powers, authorities, duties and obligations commensurate with such position as the
Company’s Board of Directors (the “Board”) may reasonably assign from time to time. During the Period of
Employment, the Executive shall report solely to the Board. The Executive shall initially serve as Chairman of the Board and
subsequently shall be nominated to serve on the Board and, if elected, shall serve as a member of the Board, in each case, without
any additional compensation therefor.

 

     

     

    

 

1.3   No
Other Employment; Minimum Time Commitment. During the Period of Employment, the Executive shall devote substantially
all of his business time, energy and skill to the performance of the Executive’s duties for the Company, and shall hold no other
employment. During the Period of Employment, the Executive may continue to serve on no more than three (3) for-profit boards of directors
(or similar body) of other business entities on which he serves as of the Effective Date, unless otherwise permitted by the Board. The
Executive’s service on any additional for-profit boards of directors (or similar body) of other business entities is subject to
the prior written approval of the Board, which approval shall not unreasonably be withheld or delayed. Nothing herein shall preclude the
Executive from (i) engaging in a reasonable level of charitable activities and community affairs, including serving on non-profit
boards of directors or the equivalent, and (ii) managing his personal and family investments and affairs, provided that such activities
do not materially interfere with the effective discharge of his duties and responsibilities to the Company. The Company shall have the
right (upon written notice and subject to the Executive fulfilling his fiduciary obligations as a member of the applicable board or body)
to require the Executive to resign from any board or similar body (including, without limitation, any association, corporate, civic or
charitable board or similar body) on which the Executive may then serve (or reduce his involvement) if the Board reasonably determines
in good faith that any business related to such service is then in competition with any business of the Company or any Subsidiaries (as
such term is defined in Exhibit C). In the event any such resignation (or reduction in involvement) is required of the Executive,
the Executive shall so resign (or reduce his involvement) as soon as he can practicably do so without violating any fiduciary duty he
may have to such other organization.

 

1.4   No Breach of
Contract. The Executive hereby represents to the Company that the execution and delivery of this Agreement by the Executive after
execution and delivery by the Company, and the performance by the Executive of the Executive’s duties hereunder, do not and shall
not constitute a breach of, conflict with, or otherwise contravene or cause a default under, the terms of any other agreement or policy
to which the Executive is a party or otherwise bound or any judgment, order or decree to which the Executive is subject.

 

1.5   Location.
The Executive may work remotely from any location; provided that the Executive acknowledges and agrees to travel as necessary
in performing the Executive’s duties for the Company, including travel to the Company’s headquarters and other locations
as necessary.

 

2.   Period of Employment.
The “Period of Employment” shall be a period commencing on the Effective Date and ending at the close of business
on the third (3rd) anniversary of the Effective Date (such date, the “Expiration Date”); provided, however,
that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional
year on the Expiration Date and each anniversary of the Expiration Date thereafter, unless the Executive gives notice to the Company,
or the Company gives notice to the Executive, at least ninety (90) days prior to the expiration of the Period of Employment (including
any renewal thereof) of such party’s desire to terminate the Period of Employment (such notice to be delivered in accordance with
Section 17). The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence.
Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall constitute a breach
of this Agreement and shall constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period
of Employment is subject to earlier termination as provided below in this Agreement.

 

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3.   Compensation.

 

3.1   Base
Salary. During the Period of Employment, and for the Executive’s services
to the Company, the Company shall pay the Executive a base salary (the “Base Salary”), which shall be paid in accordance
with the Company’s regular payroll practices in effect from time to time, but not less frequently than in semi-monthly installments.
The Executive’s initial Base Salary shall be at an annualized rate of $1,274,000. On an annual basis, the Compensation Committee
of the Board (the “Committee”) shall review the Base Salary for possible increase (but not decrease) as determined
by the Committee in its sole discretion.

 

3.2   Annual Bonus.
During the Period of Employment, for each fiscal year commencing with fiscal year 2022(which commenced on June 27, 2021), the Executive
shall have the opportunity to earn an annual bonus (the “Annual Bonus”). The target amount of the Annual Bonus (the
“Target Bonus”) shall equal no less than 100% of the Base Salary, and the maximum amount of the Annual Bonus shall
equal no less than 200% of the Base Salary. The actual amount of the Annual Bonus earned for a fiscal year shall be based on the achievement
of performance targets established by the Committee in accordance with the terms of the Company’s annual incentive plan, with overall
corporate performance goals consistent with those applicable to other senior executives. Any Annual Bonus earned for a fiscal year shall
be paid to the Executive no later than two and a half (2.5) months after the end of such fiscal year.

 

3.3   Equity
Awards.

 

(a)   On the
Effective Date, the Company shall grant to the Executive, pursuant to the Bowlero Corp. 2021 Omnibus Incentive Plan (the “Omnibus
Plan”), (i) an option to purchase 482,784 shares of Class B Common Stock of the Company pursuant to a stock option award agreement
substantially in the form attached hereto as Exhibit A, and (ii) an option to purchase 6,781,250 shares of Class A Common Stock
of the Company pursuant to a stock option award agreement substantially in the form attached hereto as Exhibit B. The Executive
will not be eligible for additional grants pursuant to the Company’s long-term equity incentive program until the fifth (5th) anniversary
of the Effective Date.

 

(b)   Notwithstanding
anything in the applicable referenced provision of the Omnibus Plan or particular award agreement to the contrary, with respect to the
awards of stock options granted in accordance with Section 3.3(a) granted to the Executive, (i) any waiver, amendment, alteration, suspension,
discontinuance, cancellation or termination of any such award effectuated pursuant to Section 13(b) of the Omnibus Plan that would adversely
affect the rights of the Executive with respect to such award shall not to that extent be effective without the consent of the Executive
unless the Committee determines that such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination is either
required or advisable, in each case based on advice of counsel to the Company, in order for the Company, the Plan or such award to satisfy
any applicable law or regulation (for clarity, regardless of whether such action would materially affect such rights), (ii) clause (A)
of the first sentence of Section 14(t) of the Plan shall not apply such awards, (iii) clause (B) of the first sentence of Section 14(t)
of the Plan shall apply to such awards only to the extent such conduct by Executive would constitute Cause within the meaning of this
Agreement (regardless of whether the Executive remains employed by the Company at the time of such determination), (iv) the Committee
may only cancel any such award or any portion thereof pursuant to the first sentence of Section 15(j)(iii) of the Omnibus Plan if it determines,
based on advice of counsel to the Company, that legal restrictions and/or blockage and/or other market considerations would, at all times,
make the Company’s acquisition of shares of Common Stock (as defined in the Omnibus Plan) from the public markets, the Company’s
issuance of Common Stock to the Executive, the Executive’s acquisition of Common Stock from the Company and/or the Executive’s
sale of Common Stock to the public markets illegal, and (v) if, during the Change in Control Period, but prior to a Change in Control,
the Executive’s employment with the Company is terminated by the Company without Cause (and other than due to the Executive’s
death or Disability), or as a result of a resignation by the Executive for Good Reason, such awards shall remain outstanding and eligible
to become vested in accordance with Section 5.3(c) of this Agreement until the earliest of (x) the Change in Control, (y) the termination
of the definitive agreement under which the consummation of the transactions contemplated thereby would result in a Change in Control,
and (z) December 15, 2031.

 

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4.   Benefits.

 

4.1   Retirement,
Welfare and Fringe Benefits. During the Period of Employment, the Executive shall be entitled
to participate in all employee pension and welfare benefit plans and programs, and fringe and any other employee benefit plans and programs,
made available by the Company to its executive officers generally, in accordance with the generally applicable eligibility and participation
provisions of such plans at a level commensurate with his position, and as such plans or programs may be in effect from time to time.

 

4.2   Reimbursement
of Business Expenses. The Company shall reimburse the Executive for all reasonable business
expenses the Executive incurs during the Period of Employment in connection with carrying out the Executive’s duties for the Company
under this Agreement, subject to the Company’s expense reimbursement policies in effect from time to time. In addition, the Company
shall reimburse the Executive for or pay the reasonable legal fees incurred by the Executive, in an amount not to exceed $350,000, relating
to the negotiation and preparation of this Agreement or otherwise relating to the transactions contemplated by that certain Business Combination
Agreement, dated as of July 1, 2021, by and between the Company and Isos Acquisition Corporation, a Cayman Islands exempted company.

 

4.3   Vacation
and Other Leave. During the Period of Employment, the Executive shall accrue and be
entitled to take paid vacation at a rate of four (4) weeks per year (or such greater vacation benefits as may be provided under the
vacation policies applicable to the Company’s senior executives in effect from time to time), subject to the Company’s policies
regarding vacation accruals, including any policy which may limit vacation accruals and/or limit the amount of accrued but unused vacation
to carry over from year to year. The Executive shall also be entitled to all other holiday and leave pay generally available to other
executives of the Company.

 

5.   Termination.

 

5.1   Termination
by the Company. The Executive’s employment by the Company, and the Period of Employment, may be terminated at any time by the
Company: (a) with Cause (as such term is defined in Exhibit C); or (b) upon not less than thirty (30) days prior
written notice to the Executive, without Cause; or (c) in the event of the Executive’s death; or (d) in the event that
it is determined that the Executive has a Disability (as such term is defined in Exhibit C). The Company may, if it so chooses,
place the Executive on paid leave of absence for any such thirty (30) day notice period referred to in clause (b) above (or any
portion of such period).

 

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5.2   Termination
by the Executive. The Executive’s employment by the Company, and the Period of Employment, may be terminated by the Executive,
with or without Good Reason, upon not less than thirty (30) days prior written notice to the Company; provided, however,
that in the case of a termination for Good Reason (as such term is defined in Exhibit C), the Executive may provide immediate
written notice of termination once the applicable cure period (as contemplated by the definition of Good Reason) has lapsed if the Company
has not reasonably cured the circumstances that gave rise to the basis for the Good Reason termination.

 

5.3   Benefits
Upon Termination. If the Executive’s employment by the Company is terminated during the Period of Employment for any reason
by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s
employment by the Company terminates is referred to as the “Termination Date”), the Company shall have no further
obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company,
any payments or benefits except as follows:

 

(a)   The
Company shall pay the Executive (or, in the event of the Executive’s death, the Executive’s estate) any Accrued Obligations
(as such term is defined in Exhibit C).

 

(b)   Subject
to Section 5.3(c), if, during the Period of Employment, the Executive’s employment with the Company is terminated by the Company
without Cause (and other than due to the Executive’s death or Disability), or as a result of a resignation by the Executive for
Good Reason, the Company shall pay the Executive (in addition to the Accrued Obligations) the following:

 

(i)   subject
to tax withholding and other authorized deductions, an amount (the “Severance Benefit”) equal to the sum of (x) the
Executive’s Base Salary at the rate in effect on the Termination Date (without regard to any reduction in Base Salary level that
results in a Good Reason termination) plus (y) the Executive’s Target Bonus for the fiscal year of termination. Subject to Section 18.1,
the Company shall pay the Severance Benefit to the Executive in equal monthly installments (rounded down to the nearest whole cent) over
a period of twelve (12) consecutive months, with the first installment payable on (or within ten (10) days following) the sixtieth (60th)
day following the Executive’s Separation from Service (as such term is defined in Exhibit C) occurs (and which amount shall
include payment of any amounts that would otherwise be due prior thereto);

 

(ii)   the
Annual Bonus for the fiscal year of termination, determined based on actual performance for such fiscal year, as prorated based on the
number of days employed during such fiscal year, payable in accordance with Section 3.2 of this Agreement; and

 

(iii)   if
the Executive and any of the Executive’s eligible dependents, in each case, who participate in the Company’s (or any Affiliate’s)
medical, dental, vision and prescription drug plans as of the Termination Date, timely elect coverage under Consolidated Omnibus Budget
Reconciliation Act (“COBRA”) for such plans, the Company shall pay directly, or reimburse the Executive for, such COBRA
premiums (on a monthly basis) for eighteen (18) months; provided that in no event shall the Company’s obligations pursuant
to this paragraph extend beyond the period in which the Company (or any Affiliate) is required to provide COBRA coverage to the Executive
and/or any of his eligible dependents; and provided, further, that the first payment or reimbursement shall be made on the
sixtieth (60th) day following the Executive’s Separation from Service (and which amount shall include payment of any amounts that
would otherwise be due prior thereto).

 

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(c)   If,
during the Change in Control Period (as defined in Exhibit C), the Executive’s employment with the Company is terminated
by the Company without Cause (and other than due to the Executive’s death or Disability), or as a result of a resignation by the
Executive for Good Reason, the Company shall pay the Executive (in addition to the Accrued Obligations) the following:

 

(i)   subject
to tax withholding and other authorized deductions, an amount (the “CIC Severance Benefit”) equal to the product of
(x) two (2) multiplied by (y) the sum of (A) the Executive’s Base Salary at the rate in effect on the Termination Date (without
regard to any reduction in Base Salary level that results in a Good Reason termination) plus (B) the Executive’s Target Bonus for
the fiscal year of termination. Subject to Section 18.1, the Company shall pay the CIC Severance Benefit to the Executive in a lump sum
on (or within ten (10) days following) the sixtieth (60th) day following the Executive’s Separation from Service;

 

(ii)   the
Annual Bonus for the fiscal year of termination, determined based on actual performance for such fiscal year (but in no event less than
the Target Bonus for such fiscal year), as prorated based on the number of days employed during such fiscal year, payable in accordance
with Section 3.2 of this Agreement;

 

(iii)   full
accelerated vesting of all unvested equity awards then held by the Executive; and

 

(iv)   if
the Executive and any of the Executive’s eligible dependents, in each case, who participate in the Company’s (or any Affiliate’s)
medical, dental, vision and prescription drug plans as of the Termination Date, timely elect coverage under COBRA for such plans, the
Company shall pay directly, or reimburse the Executive for, such COBRA premiums (on a monthly basis) for 18 (eighteen) months; provided
that in no event shall the Company’s obligations pursuant to this paragraph extend beyond the period in which the Company (or any
Affiliate) is required to provide COBRA coverage to the Executive and/or any of his eligible dependents; and provided, further,
that the first payment or reimbursement shall be made on the sixtieth (60th) day following the Executive’s Separation from Service
(and which amount shall include payment of any amounts that would otherwise be due prior thereto).

 

Notwithstanding the foregoing, if such termination without Cause or
resignation for Good Reason occurs prior to the Change in Control, then (A) during the period ending on the Change in Control, the Executive
will be entitled to the severance payments and benefits under Section 5.3(b) and (B) following the Change in Control, the Executive will
be entitled to the severance payments and benefits under this Section 5.3(c), as reduced by the severance payments and benefits received
by the Executive prior to the Change in Control under Section 5.3(b).

 

(d)   If,
during the Period of Employment, the Executive’s employment with the Company is terminated due to his death or Disability, the Executive
(or his estate) will be entitled to receive the Annual Bonus for the fiscal year of termination, determined based on actual performance
for such fiscal year, as prorated based on the number of days employed during such fiscal year, payable on the date that annual bonuses
for such fiscal year are paid to the Company’s other senior executives.

 

(e)   Notwithstanding
the foregoing provisions of this Section 5.3, if the Executive materially breaches, at any time, either the Executive’s obligations
under Sections 6.1, 6.4, 6.5 or 6.6 of this Agreement or any other material provisions under Section 6 of this Agreement, from
and after the date of such breach and not in any way in limitation of any right or remedy otherwise available to the Company, the Executive
shall no longer be entitled to, and the Company shall no longer be obligated to pay, any remaining unpaid portion of the Severance Benefit
under Section 5.3(b) or the CIC Severance Benefit under Section 5.3(c), or any remaining unpaid portion of the severance payments
under Section 5.3(b), 5.3(c) or 5.3(d), as applicable; provided, however, that, if the Executive provides the Release
contemplated by Section 5.4, in no event shall the Executive be entitled to a Severance Benefit or CIC Severance Benefit payment,
as applicable, of less than $5,000, which amount the parties agree is good and adequate consideration, in and of itself, for the Executive’s
Release contemplated by Section 5.4.

 

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(f)   The
foregoing provisions of this Section 5.3 shall not affect: (i) the Executive’s receipt of benefits otherwise due terminated
employees under group insurance coverage consistent with the terms of the applicable Company welfare benefit plan; (ii) the Executive’s
rights under COBRA to continue participation in medical, dental, hospitalization and life insurance coverage; (iii) the Executive’s
receipt of benefits otherwise due in accordance with the terms of the Company’s 401(k) plan (if any) or any other retirement or
pension plan; and (iv) any right to indemnification the Executive may have from the Company or the Executive’s right to be
covered under any applicable insurance policy, with respect to any liability the Executive incurred or might incur as an employee, officer
or director of the Company or its affiliates, including, without limitation, pursuant to Section 19 hereof.

 

5.4   Release;
Exclusive Remedy.

 

(a)   This
Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any
Company obligation to the Executive pursuant to Section 5.3, the Executive (or his estate or personal representative, as applicable)
shall, upon or promptly following his last day of employment with the Company, provide the Company with a valid, executed written release
agreement in the form attached hereto as Exhibit D (with such changes as may be reasonably required to such form in order
to make the release enforceable and otherwise compliant with applicable law) (the “Release”), and such Release shall
have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the Release
to the Executive not later than seven (7) days following the Termination Date, and the Executive shall be required to execute and
return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make
the Release maximally enforceable under applicable law) after the Company provided the form of Release to the Executive.

 

(b)   The
Executive agrees that the payments and benefits contemplated by Section 5.3 shall (if the Release contemplated by Section 5.4(a)
is signed and becomes effective and the severance amounts are paid in accordance with their terms) constitute the exclusive and sole remedy
for any termination of the Executive’s employment and, in such case, the Executive covenants not to assert or pursue any other remedies,
at law or in equity, with respect to any termination of employment; provided, however, that nothing herein shall affect
the Executive’s rights as a stockholder of the Company (or the rights of any stockholder in which the Executive has a direct or
indirect beneficial interest). The Company and the Executive acknowledge and agree that there is no duty of the Executive to mitigate
damages under this Agreement, and there shall be no offset against any amounts due to the Executive under this Agreement on account of
any remuneration attributable to any subsequent employment that the Executive may obtain. All amounts paid to the Executive pursuant to
Section 5.3 shall be paid without regard to whether the Executive has taken or takes actions to mitigate damages. The Executive agrees
to resign, on the Termination Date, as an officer and director of the Company and any Affiliate, and as a fiduciary of any benefit plan
of the Company or any Affiliate, and to promptly execute and provide to the Company any further documentation, as reasonably required
by the Company, to confirm such resignation.

 

5.5   Notice
of Termination; Paid Leave. Any termination of the Executive’s employment under this Agreement shall be communicated by written
notice of termination from the terminating party to the other parties. This notice of termination must be delivered in accordance with
Section 17 and must indicate the specific provision(s) of this Agreement relied upon in effecting the termination. If the Company
terminates the Executive’s employment pursuant to clause (b) of Section 5.1, or if the Executive provides notice of termination
pursuant to Section 5.2, the Company may place the Executive on paid administrative leave during the applicable notice period and
such leave shall not constitute grounds for a resignation by the Executive for Good Reason.

 

5.6   Section 280G.
In the event that the payments and benefits provided under this Agreement and benefits provided to, or for the benefit of, the Executive
under any other plan or agreement (such payments or benefits are collectively referred to as the “Benefits”) would
be subject to the excise tax (the “Excise Tax”) imposed under Section 4999 of the Internal Revenue Code of 1986,
as amended (the “Code”), in connection with any transaction, then the Company shall cause to be determined, before
any amounts of the Benefits are paid to the Executive, which of the following two alternative forms of payment would result in the Executive’s
receipt, on an after-tax basis, of the greater amount of the Benefits notwithstanding that all or some portion of the Benefits may be
subject to the Excise Tax: (a) payment in full of the entire amount of the Benefits (a “Full Payment”), or (b) payment
of only a part of the Benefits so that the Executive receives the largest payment possible without the imposition of the Excise Tax (a
“Reduced Payment”), and the Executive shall be entitled to payment of whichever amount shall result in a greater after-tax
amount for the Executive. For purposes of determining whether to make a Full Payment or a Reduced Payment, the Company shall cause to
be taken into account all applicable federal, state and local income and employment taxes and the Excise Tax (all computed at the highest
applicable marginal rate, net of the maximum reduction in federal income taxes which could be obtained from a deduction of such state
and local taxes). If a Reduced Payment is made, the reduction in payments and/or benefits shall occur in the following order: (1) first,
reduction of cash payments, in reverse order of scheduled payment date (or if necessary, to zero), (2) then, reduction of non-cash and
non-equity benefits provided to the Executive, on a pro rata basis (or if necessary, to zero) and (3) then, cancellation of the acceleration
of vesting of equity award compensation in the reverse order of the date of grant of the Executive’s equity awards.

 

A determination as to whether any Excise Tax would
be imposed on the Benefits and, if so, whether a Full Payment or a Reduced Payment would result in a greater after-tax amount for the
Executive, shall be made by the Company’s independent public accountants or another certified public accounting firm or executive
compensation consulting firm of national reputation designated by the Company (the “Firm”) at the Company’s expense.
The Firm shall provide its determination, together with detailed supporting calculations and documentation to the Company and the Executive
within ten (10) business days of the date of termination of the Executive’s employment, if applicable, or such other time as reasonably
requested by the Company or the Executive.

 

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6.   Protective
Covenants.

 

6.1   Confidential
Information. The Executive agrees that he will not disclose or use at any time, either during the Executive’s employment with
the Company or thereafter, any Confidential Information (as defined below) of which the Executive is or becomes aware, whether or not
such information is developed by the Executive, except to the extent that such disclosure or use is directly related to the good faith
performance of the Executive’s duties for the Company. The Executive agrees that he will take all reasonable and appropriate steps
to safeguard Confidential Information in his possession and to protect it against disclosure, misuse, espionage, loss and theft. Notwithstanding
the foregoing, the Executive may truthfully respond to a lawful and valid subpoena, court order or other legal process, but the Executive
agrees, to the extent he is permitted under applicable law and the relevant request for disclosure: (i) to first give the Company
the earliest possible notice thereof, (ii) to, as much in advance of the return date as possible, make available to the Company
and its counsel the documents and other reasonable information sought, and (iii) to assist the Company and such counsel (at the
Company’s expense) in resisting or otherwise responding to such process, subject to the Executive’s other commitments. As
used in this Agreement, the term “Confidential Information” means information that is not generally known to the public
and that is used, developed or obtained by the Company or any Subsidiary in connection with its business, including, but not limited
to, information, observations and data obtained by the Executive while employed by the Company or any predecessors thereof (including
those obtained prior to the date of this Agreement) concerning (i) the business or affairs of the Company or any Subsidiary (including
each of their respective predecessors), (ii) products or services, (iii) fees, costs and pricing structures, (iv) designs,
(v) analyses, (vi) drawings, photographs and reports, (vii) computer software, including operating systems, applications
and program listings, (viii) flow charts, manuals and documentation, (ix) data bases, (x) accounting and business methods,
(xi) inventions, devices, new developments, methods and processes, whether patentable or unpatentable and whether or not reduced to practice,
(xii) customers and clients and customer or client lists, (xiii) other copyrightable works, (xiv) all production methods, processes,
technology and trade secrets, and (xv) all similar and related information in whatever form. Confidential Information will not be deemed
to have been published merely because individual portions of the information have been separately published, but only if all material
features comprising such information have been published in combination. The Executive further understands that Confidential Information
does not include any of the foregoing or other items that have become publicly known or made generally available through no wrongful
act (or failure to act) of the Executive or, to the knowledge of the Executive, of others who were under confidentiality obligations
as to the item or items involved or improvements or new versions thereof or is available, or becomes available, to the Executive on a
non-confidential basis, but only if the source of the information is not, to the Executive’s knowledge, prohibited from transmitting
the information to the Executive by a contractual, legal, fiduciary or other obligation. The Executive acknowledges that, as between
the Executive and the Company, all Confidential Information shall be the sole and exclusive property of the Company and its assigns.
Further, this Section 6.1 shall not prevent the Executive from disclosing Confidential Information in connection with any litigation,
arbitration or mediation involving the Executive’s employment or termination thereof, including, but not limited to, enforcing
this Agreement, provided that such disclosure is reasonably necessary for the Executive to assert any claim or defense in such proceeding.
Nothing in this Section 6.1 or any other provision of this Agreement shall prohibit the Executive from: reporting possible violations
of law or regulation to any governmental agency or entity including but not limited to Department of Justice, the Securities and Exchange
Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Commission, and any Inspector General, or
making other disclosures that are protected under the whistleblower provisions of federal, state or local law or regulation. The Executive
does not need the prior authorization of the Company to make any such reports or disclosures and the Executive is not required to notify
the Company that Executive has made such reports or disclosures.

 

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6.2   Inventions.

 

(a)   Inventions
Retained and Licensed. The Executive has attached hereto, as Exhibit E, a list describing all inventions, original works
of authorship, developments, improvements and trade secrets that were made, conceived or first reduced to practice by the Executive prior
to his employment with the Company (collectively referred to as “Prior Inventions”), which belong to the Executive
or a third party (such as a former employer), which relate to the Company’s (or any Subsidiary’s) actual or proposed business,
products or research and development, and which are not assigned to the Company hereunder; or, if no such list is attached, the Executive
represents that there are no such Prior Inventions. If disclosure of any such Prior Invention would cause the Executive to violate any
prior confidentiality agreement, the Executive understands that he is not to list such Prior Inventions in Exhibit E but is
only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it belongs and the fact that full disclosure
as to such inventions has not been made for that reason. A space is provided on Exhibit E for such purpose. If, in the course
of the Executive’s employment with the Company the Executive incorporates into a Company or Subsidiary product, material, process,
machine or service, a Prior Invention owned by the Executive or in which he has an interest, the Executive hereby grants to the Company
a nonexclusive, royalty-free, fully paid-up, irrevocable, perpetual, worldwide license (with rights to sublicense through multiple tiers
of sublicensees) to make, have made, modify, make derivative works of, use, disclose, reproduce, distribute, offer to sell, sell, have
sold, import and otherwise exploit such Prior Invention as part of or in connection with such product, material, process, machine or service,
and to practice any method related thereto. Notwithstanding the foregoing, the Executive agrees that he will not incorporate, or permit
to be incorporated, Prior Inventions in any Company or Subsidiary product, material, process, machine or service without the Company’s
prior written consent.

 

(b)   Assignment
of Inventions. The Executive agrees that he will promptly make full written disclosure to the Company, will hold in trust for the
sole right and benefit of the Company and hereby assigns to the Company, or its designee, all the Executive’s right, title and interest
in and to any and all inventions, original works of authorship, developments, concepts, improvements, designs, mask works, prototypes,
models, materials, discoveries, ideas, processes, formulas, data, know-how, techniques, trademarks or trade secrets, whether or not patentable
or registrable under copyright or similar laws, which the Executive may solely or jointly conceive or develop or reduce to practice, or
cause to be conceived or developed or reduced to practice, during the entire period of time the Executive is in the employ of the Company,
whether before or after the execution of this Agreement, except as provided in Section 6.2(f) below (collectively referred to as
“Inventions”). Notwithstanding anything to the contrary contained herein, for purposes of this Agreement, Inventions
shall not include inventions created by the Executive during non-business hours that are not related in any respect to the business (or
any portion thereof) of the Company. The Executive further acknowledges that all original works of authorship that are made by the Executive
(solely or jointly with others) within the scope of and during the period of his employment with the Company (whether before or after
the execution of this Agreement) and which are protectable by copyright are “works made for hire,” as that term is defined
in the United States Copyright Act. Additionally, any assignment of copyright hereunder includes all rights of paternity, integrity, disclosure
and withdrawal and any other rights that may be known as or referred to as “moral rights” (collectively “Moral Rights”).
To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed by the laws in the
various countries where Moral Rights exist, the Executive hereby waives such Moral Rights and consents to any action of the Company that
would violate such Moral Rights in the absence of such consent. The Executive will confirm any such waivers and consents from time to
time as requested by the Company. The Executive understands and agrees that the decision whether or not to commercialize or market any
invention developed by the Executive solely or jointly with others is within the Company’s sole discretion and for the Company’s
sole benefit and that no royalty will be due to the Executive as a result of the Company’s efforts to commercialize or market any
such invention.

 

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(c)   Inventions
Assigned to the United States. The Executive agrees to assign to the United States government all the Executive’s right, title
and interest in and to any and all Inventions whenever such full title is required to be in the United States by a contract between the
Company, on the one hand, and the United States or any of its agencies, on the other hand.

 

(d)   Maintenance
of Records. The Executive agrees to keep and maintain adequate and current written records of all Inventions made by the Executive
(solely or jointly with others) during the term of his employment with the Company. The records will be in the form of notes, notebooks,
sketches, drawings or any other format that may be reasonably specified by the Company. The records will be available to, and remain the
sole property of the Company at all times.

 

(e)   Registrations
and Enforcement. The Executive agrees to reasonably assist the Company, or its designee, at the Company’s expense, in every
proper way to secure, maintain, defend and enforce the Company’s rights in the Inventions and any copyrights, patents, mask work
rights or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of all
pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments and all other
instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the
Company or any successors, assigns and nominees the sole and exclusive rights, title and interest in and to such Inventions, and any copyrights,
patents, mask work rights or other intellectual property rights relating thereto. The Executive further agrees that his obligation to
execute or cause to be executed, when it is in his power to do so, any such instrument or papers shall continue after the termination
of this Agreement, but the Company shall compensate the Executive at a reasonable rate after his termination for the time actually spent
by him at the Company’s request on such assistance. If the Company is unable because of the Executive’s mental or physical
incapacity or for any other reason to secure his signature in connection with any of the foregoing actions (including as necessary to
apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original
works of authorship assigned to the Company as above), then the Executive hereby irrevocably designates and appoints the Company and its
duly authorized officers and agents as his agent and attorney in fact, to act for and in his behalf and stead (including to execute and
file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright
registrations thereon) with the same legal force and effect as if executed by the Executive. The Executive hereby waives and quitclaims
to the Company any and all claims, of any nature whatsoever, which the Executive now or may hereafter have for infringement of any Inventions
assigned hereunder to the Company.

 

(f)   Obligation
to Keep Company Informed. During the Period of Employment and for six (6) months after the Executive’s Termination Date,
the Executive will promptly disclose to the Company fully and in writing all Inventions authored, conceived or reduced to practice by
the Executive, either alone or jointly with others. In addition, the Executive will promptly disclose to the Company all patent applications
filed by him or on his behalf within a year after the Termination Date.

 

6.3   Cooperation.
For five (5) years following the Executive’s last day of employment by the Company, the Executive shall reasonably cooperate
with the Company and the Subsidiaries in connection with: (a) any internal or governmental investigation or administrative, regulatory,
arbitral or judicial proceeding involving any of them with respect to matters relating to the Executive’s employment with or service
as a member of the Board or the board of directors of any Subsidiary; or (b) any audit of the financial statements of the Company
or any Subsidiary with respect to the period of time when the Executive was employed by the Company. The Company shall reimburse the
Executive for reasonable travel expenses incurred in connection with providing the services under this Section 6.3, including lodging
and meals, upon the Executive’s submission of receipts.

 

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6.4   Restriction
on Competition. The Executive agrees that if the Executive were to become employed by, or substantially involved in, the business
of a competitor of the Company or any of the Subsidiaries during the Restricted Period (defined below), it would be very difficult for
the Executive not to rely on or use the Company’s or the Subsidiaries’ trade secrets and confidential information. Thus,
to avoid the inevitable disclosure of such trade secrets and confidential information, and to protect such trade secrets and confidential
information and the Company’s and the Subsidiaries’ relationships and goodwill with customers, during the Restricted Period,
except in the good faith performance of his duties hereunder, the Executive shall not directly or indirectly through any other Person
engage in, enter the employ of, render any services to, have any ownership interest in, nor participate in the financing, operation,
management or control of, any Competing Business. For purposes of this Agreement, “Restricted Period” means the Period
of Employment and two (2) years after the Termination Date. For purposes of this Agreement, the phrase “directly or indirectly
through any other Person engage in” shall include, without limitation, any direct or indirect ownership or profit participation
interest in such enterprise, whether as an owner, stockholder, member, partner, joint venturer or otherwise, and shall include any direct
or indirect participation in such enterprise as an employee, consultant, director, officer, licensor of technology or otherwise. For
purposes of this Agreement, “Competing Business” means any Person anywhere in the United States and any other country
in which the Company or any of the Subsidiaries operates (or plans to commence operations) that at any time during the Period of Employment
is engaged in (or has plans to engage in), or at any time during the six (6) month period following the Termination Date is engaged
in (or has plans to engage in) a business related to bowling or the operation of bowling centers. Nothing herein shall prohibit the Executive
from (i) investing in mutual funds and stocks, bonds, or other securities in any business if such stocks, bonds, or other securities
are listed on any securities exchange or are publicly traded in an over the counter market, and such investment does not exceed, in the
case of any capital stock of any one issuer, two percent (2%) of the issued and outstanding capital stock or in the case of bonds or
other securities, two percent (2%) of the aggregate principal amount thereof issued and outstanding, or (ii) being employed in a
senior management role of a conglomerate (or a portion of a conglomerate) that engages in a Competing Business so long as the Executive
does not perform services to or otherwise actively participate in the business unit engaged in the Competing Business.

 

6.5   Soliciting
Customers. During the Restricted Period, the Executive shall not directly or indirectly through any other Person influence or attempt
to influence customers, vendors, suppliers, licensors, lessors, joint venturers, associates, consultants, agents, or partners of the
Company or any of the Subsidiaries to divert their business away from the Company or such Subsidiary to a Competing Business, and the
Executive shall not otherwise interfere with, disrupt or attempt to disrupt the business relationships, contractual or otherwise, between
the Company or any of the Subsidiaries, on the one hand, and any of its or their customers, suppliers, vendors, lessors, licensors, joint
venturers, associates, officers, employees, consultants, managers, partners, members or investors, on the other hand in an effort to
benefit a Competing Business. The foregoing shall not be violated by general advertising of a customary nature not targeted at such persons
or entities, nor by serving as a reasonable and customary reference upon request.

 

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6.6   Soliciting
Employees and Consultants. During the Restricted Period, except in the good faith performance of his duties hereunder, the Executive
shall not directly or indirectly through any other Person (a) induce or attempt to induce any officer, other key employee or independent
contractor of the Company or any of the Subsidiaries to leave the employ or service, as applicable, of the Company or such Subsidiary,
or in any way interfere with the relationship between the Company or any Subsidiary, on the one hand, and any officer, other key employee
or independent contractor thereof, on the other hand, or (b) hire any person who was an officer or other key employee of the Company
or any of the Subsidiaries until six (6) months after such individual’s employment relationship with the Company or such Subsidiary
has been terminated. For purposes of this Section 6.6, any employee of the Company or any of the Subsidiaries whose compensation
for the year in which such event occurs is or is reasonably expected to be greater than $80,000 shall be presumed to be a “key
employee.” The foregoing shall not be violated by general advertising of a customary nature not targeted at such persons or entities,
nor by serving as a reasonable and customary reference upon request.

 

6.7   Understanding
of Covenants.

 

(a)   The
Executive acknowledges that, in the course of the Executive’s employment with the Company and/or its Subsidiaries and their predecessors,
the Executive has become familiar, or will become familiar, with the Company’s and the Subsidiaries’ and their predecessors’
trade secrets and with other confidential and proprietary information concerning the Company, the Subsidiaries and their respective predecessors
and that the Executive’s services have been and will be of special, unique and extraordinary value to the Company and the Subsidiaries.
The Executive agrees that the foregoing covenants set forth in Sections 6.1 through 6.6 (together, the “Restrictive Covenants”)
are reasonable and necessary to protect the Company’s and the Subsidiaries’ trade secrets and other confidential and proprietary
information, good will, stable workforce, and customer relations.

 

(b)   Without
limiting the generality of the Executive’s agreement in the preceding paragraph, the Executive (i) represents that the Executive
is familiar with and has carefully considered the Restrictive Covenants, (ii) represents that the Executive is fully aware of the
Executive’s obligations hereunder, (iii) agrees to the reasonableness of the length of time, scope and geographic coverage,
as applicable, of the Restrictive Covenants, and (iv) agrees that the Restrictive Covenants shall continue in effect for the applicable
periods set forth above in this Section 6 regardless of whether the Executive is then entitled to receive severance pay or benefits
from the Company. The Executive understands that the Restrictive Covenants may limit the Executive’s ability to earn a livelihood
in a business similar to the business of the Company, and the Subsidiaries, but the Executive nevertheless believes that the Executive
has received and will receive sufficient consideration and other benefits as an employee of the Company to justify such restrictions and
that such restrictions would prevent the Executive from otherwise earning a living. The Executive acknowledges and agrees that the Restrictive
Covenants do not confer a benefit upon the Company and the Subsidiaries disproportionate to the detriment of the Executive; are not greater
than is required to protect the legitimate and valid business interests and goodwill of the Company and the Subsidiaries; are reasonably
necessary to prevent unfair competition; and are not injurious to the public.

 

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6.8   Enforcement
and Venue for Enforcement. The Executive agrees that the Executive’s services are unique and that the Executive has access
to the Company’s and the Subsidiaries’ trade secrets and other confidential and proprietary information. Accordingly, the
Executive agrees that a breach by the Executive of any of the covenants in this Section 6 would cause immediate and irreparable
harm to the Company that would be difficult or impossible to measure, and that damages to the Company for any such injury would therefore
be an inadequate remedy for any such breach. Therefore, the Executive agrees that in the event of any breach or threatened breach of
any provision of this Section 6, the Company shall be entitled, in addition to and without limitation upon all other remedies that
either of them may have under this Agreement, at law or otherwise, to obtain specific performance, injunctive relief and/or other appropriate
relief (without posting any bond or deposit) in order to enforce or prevent any violations of the provisions of this Section 6.
The Executive further agrees that the applicable period of time any Restrictive Covenant is in effect following the Termination Date,
as determined pursuant to the foregoing provisions of this Section 6, shall be extended by the same amount of time that the Executive
is in breach of any Restrictive Covenant. The Executive further understands and agrees that any court action brought pursuant to this
Section 6.8 will be brought in federal or state court of New York, and hereby expressly consents to the jurisdiction of such
courts for that purpose.

 

6.9   Return
of Company Materials. The Executive agrees that, at the time of leaving the employ of the Company, the Executive will deliver to
the Company (and will not keep in the Executive’s possession, recreate or deliver to anyone else) any and all devices, records,
data, notes, notebooks, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment,
prototypes, samples, models and other documents or property, or reproductions of any aforementioned items developed by the Executive
pursuant to his employment with the Company or otherwise belonging to the Company, any Subsidiary, or their respective successors or
assigns; provided that the Executive may retain his telephone directories, compensation related documents and other personal property.

 

7. Withholding Taxes Notwithstanding anything else herein
to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable
under or pursuant to this Agreement such federal, state and local income, employment, or other taxes as may be required to be withheld
pursuant to any applicable law or regulation.

 

8. Successors and Assigns This Agreement is personal
to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will
or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal
representatives. This Agreement shall inure to the benefit of and be binding upon the Company, its successors and, other than as set
forth below, shall not be assignable by the Company without the prior written consent of the Executive. The obligations under this Agreement
shall be assignable by the Company to, and only to, any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and/or assets of the Company; provided that the Company shall require such
successor to expressly assume and agree to perform its obligations under this Agreement in the same manner and to the same extent that
the Company would be required to perform it if no such assignment had taken place; if such successor fails to assume and agree to perform
this Agreement in such manner and to such extent, such failure shall be grounds for the Executive to terminate his employment hereunder
for Good Reason. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor thereto
which assumes and agrees to perform this Agreement by operation of law or otherwise.

 

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9. Number and Gender; Examples Where the context requires,
the singular shall include the plural, the plural shall include the singular, and any gender shall include all other genders.
Where specific language is used to clarify by example a general statement contained herein, such specific language shall not be deemed
to modify, limit or restrict in any manner the construction of the general statement to which it relates.

 

 

10. Section Headings The section headings of, and
titles of paragraphs and subparagraphs contained in, this Agreement are for the purpose of convenience only, and they neither form a
part of this Agreement nor are they to be used in the construction or interpretation thereof.

 

 

11. Governing Law THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION
OR RULE (WHETHER OF THE STATE OF NEW YORK OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE
OF NEW YORK TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE STATE OF NEW YORK WILL CONTROL THE INTERPRETATION
AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION’S CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE
LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY.

 

12. Severability It is the desire and intent of the
parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible under the laws and public policies
applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of this Agreement shall be adjudicated
by a court of competent jurisdiction to be invalid, prohibited or unenforceable under any present or future law, and if the rights and
obligations of any party under this Agreement will not be materially and adversely affected thereby, such provision, as to such jurisdiction,
shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of
such provision in any other jurisdiction, and to this end the provisions of this Agreement are declared to be severable; furthermore,
in lieu of such invalid or unenforceable provision there will be added automatically as a part of this Agreement, a legal, valid and
enforceable provision as similar in terms to such invalid or unenforceable provision as may be possible. Notwithstanding the foregoing,
if such provision could be more narrowly drawn (as to geographic scope, period of duration or otherwise) so as not to be invalid, prohibited
or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions
of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

 

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13. Entire Agreement On and following the Effective
Date, (i) this Agreement, including its attachments and exhibits (together, the “Integrated Document”), embodies
the entire agreement of the parties hereto respecting the matters within its scope, (ii) the Integrated Document supersedes all
prior and contemporaneous agreements of the parties hereto that directly or indirectly bears upon the subject matter hereof, including,
without limitation, the Prior Employment Agreement, (iii) any prior negotiations, correspondence, agreements, proposals or understandings
relating to the subject matter hereof shall be deemed to have been merged into the Integrated Document, and to the extent inconsistent
herewith, such negotiations, correspondence, agreements, proposals, or understandings shall be deemed to be of no force or effect, and
(iv) there are no representations, warranties, or agreements, whether express or implied, or oral or written, with respect to the
subject matter hereof, except as expressly set forth herein or in the Integrated Document. Notwithstanding any other provision herein,
the Integrated Documents shall have no force or effect (except for this sentence) unless and until the Effective Date (i.e.,
the time at which the transactions contemplated by the BCA are consummated).

 

14. Modifications This Agreement may not be amended,
modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which
agreement is executed by both of the parties hereto. The Executive may not consent to any such amendment, modification or change on behalf
of the Company.

 

15. Waiver Neither the failure nor any delay on the
part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right,
remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed
as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is
in writing and is signed by the party asserted to have granted such waiver.

 

16.   Arbitration;
Waiver of Jury Trial.

 

16.1   Arbitration.
The Executive and the Company hereby agree that any and all controversies, claims or disputes with anyone arising out of, relating to
or resulting in any manner from the Executive’s employment with the Company or the termination of the Executive’s employment
with the Company, including any breach of this Agreement, (including any dispute with any employee, officer, shareholder, affiliate or
benefit plan of the Company in their capacity as such or otherwise) shall be subject to binding arbitration under the arbitration rules
set forth in applicable state or federal law (the “Rules”). Disputes which the parties agree to arbitrate, and thereby
agree to waive any right to a trial by jury, include any statutory claims under state or federal law, including, but not limited to,
claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment
Act of 1967, the Older Workers Benefit Protection Act, claims of harassment, discrimination or wrongful termination and any statutory
claims.

 

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16.2   Procedure.
The parties hereby agree that any arbitration will be administered by a sole arbitrator (the “Arbitrator”) selected
from Judicial Arbitration & Mediation Services, Inc., New York, New York, or its successor (“JAMS”),
or if JAMS is no longer able to supply the arbitrator, such arbitrator shall be selected from the American Arbitration Association, and
such selection shall be in a manner consistent with the JAMS rules applicable to employment disputes. Any arbitration pursuant to this
Section 16 shall take place in New York, New York. The parties agree that the Arbitrator shall have the power to decide
any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss
and demurrers, prior to any arbitration hearing. The parties also agree that the Arbitrator shall have the power to award any remedies,
including attorneys’ fees and costs, available under applicable law. The Company agrees that it will pay for any administrative
or hearing fees unique to arbitration, including any filing fees or arbitrator fees associated with any arbitration brought under this
Section 16. The Arbitrator shall administer and conduct any arbitration in a manner consistent with the Rules and that to the extent
that the JAMS rules applicable to employment disputes conflict with the Rules, the Rules shall take precedence. The decision of the Arbitrator
shall be in writing and shall set forth the bases for the Arbitrator’s decision.

 

16.3   Remedy.
Except as provided by the Rules and this Agreement, arbitration shall be the sole, exclusive and final remedy for any dispute between
the Executive and the Company. Accordingly, except as provided for by the Rules and this Agreement, the Executive and the Company will
not be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding, the Arbitrator will not have
the authority to disregard or refuse to enforce any lawful Company policy, and the Arbitrator shall not order or require the Company
to adopt a policy not otherwise required by law which the Company has not adopted. The decision of the Arbitrator on any issue, dispute,
claim or controversy submitted for arbitration, shall be final and binding upon the parties and that judgment may be entered on the award
of the Arbitrator in any court having proper jurisdiction.

 

16.4   Availability
of Injunctive Relief. In addition to the right under the Rules to petition the court for provisional relief, the parties agree that
any party may also petition the court for injunctive relief in aid of arbitration where either party alleges or claims a violation of
this Agreement or any other agreement between the Executive, on the one hand, and the Company, on the other hand, regarding trade secrets
or confidential information. The Executive understands that any breach or threatened breach of such an agreement will cause irreparable
injury and that money damages will not provide an adequate remedy therefor, and both parties hereby consent to the issuance of an injunction.
In the event either party seeks injunctive relief, the prevailing party shall be entitled to recover reasonable costs and attorneys’
fees to the extent permitted by applicable law.

 

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16.5   Administrative
Relief. The Executive understands that this Agreement does not prohibit the Executive from pursuing an administrative claim with
a local, state or federal administrative body such as the Equal Employment Opportunity Commission or the state Workers’ Compensation
board. This Agreement does, however, preclude the Executive from pursuing court action regarding any such claim.

 

16.6   Waiver
of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

17. Notices Any notice provided for in this Agreement
must be in writing and must be either personally delivered, mailed by first class mail (postage prepaid and return receipt requested)
or sent by reputable overnight courier service (charges prepaid) to the recipient at the address below indicated or at such other address
or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. Notices
will be deemed to have been given hereunder and received when delivered personally, five days after deposit in the U.S. mail and one
day after deposit with a reputable overnight courier service.

 

if to the Company:

 

Bowlero Corp.

Attention: Chief Legal Officer

7313 Bell Creek Road

Mechanicsville, VA 23111

 

if to the Executive, to the address most
recently on file in the Company’s payroll records, with a copy to:

 

Proskauer Rose LLP

11 Times Square

New York, NY 10036

Attn: Ira Bogner, Esq.

 

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18.   Section 409A.

 

18.1   If the Executive is a “specified employee”
within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of the Executive’s Separation from Service, the
Executive shall not be entitled to any payment or benefit pursuant to Section 5.3 until the earlier of (i) the date which is
six (6) months after the Executive’s Separation from Service for any reason other than death, or (ii) the date of the
Executive’s death. The provisions of this Section 18.1 shall only apply if, and to the extent, required to avoid the imputation
of any tax, penalty or interest pursuant to Section 409A of the Code. Any amounts otherwise payable to the Executive upon or in
the six (6) month period following the Executive’s Separation from Service that are not so paid by reason of this Section 18.1
shall be paid (without interest) as soon as practicable (and in all events within thirty (30) days) after the date that is six (6) months
after the Executive’s Separation from Service (or, if earlier, as soon as practicable, and in all events within thirty (30) days,
after the date of the Executive’s death).

 

18.2   Except
to the extent any reimbursement or in-kind benefit provided pursuant to this Agreement does not constitute a “deferral of compensation”
within the meaning of Section 409A of the Code, any such reimbursement or in-kind benefit due to the Executive hereunder (A) shall
be paid to the Executive on or before the last day of the Executive’s taxable year following the taxable year in which the related
expense was incurred, and (B) shall not be subject to liquidation or exchange for another benefit and the amount of such reimbursement
or in-kind benefit that the Executive receives in one taxable year shall not affect the amount of such benefits and reimbursements that
the Executive receives in any other taxable year. The Executive agrees to promptly submit and document any reimbursable expenses in accordance
with the Company’s expense reimbursement policies to facilitate the timely reimbursement of such expenses.

 

18.3   It is intended that any amounts payable under this Agreement, and the
Company’s and the Executive’s exercise of authority or discretion hereunder, shall comply with and avoid the imputation of
any tax, penalty or interest under Section 409A of the Code. This Agreement shall be construed and interpreted consistent with that
intent.

 

18.4   For purposes
of Section 409A of the Code, the Executive’s right to receive any installment payment under this Agreement shall be treated
as a right to receive a series of separate and distinct payments.

 

18.5   Notwithstanding anything to the contrary herein, a termination of employment
shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of amounts or benefits
upon or following a termination of employment unless such termination is also a Separation from Service and, for purposes of any such
provision of this Agreement, references to a “resignation,” “termination,” “termination of employment”
or like terms shall mean Separation from Service.

 

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19.   Indemnification.

 

 

19.1   The Company agrees that (i) if the Executive is made a party,
or is threatened to be made a party, to any threatened or actual action, suit or proceeding whether civil, criminal, administrative, investigative,
appellate or other (a “Proceeding”) by reason of the fact that he is or was a director, officer or employee of the
Company or is or was serving at the request of the Company as a director, officer, member, employee, agent, manager, consultant or representative
of another person or (ii) if any claim, demand, request, investigation, controversy, threat, discovery request or request for testimony
or information (a “Claim”) is made, or threatened to be made, that arises out of or relates to the Executive’s
service in any of the foregoing capacities, whether arising before or after the Effective Date, then the Executive shall promptly be indemnified
and held harmless by the Company to the fullest extent legally permitted and authorized by the Company’s charter, bylaws or Board
resolutions against any and all costs, expenses, liabilities and losses (including, without limitation, attorney’s fees, judgments,
interest, expenses of investigating, defending or obtaining indemnity with respect to any Proceeding or Claim, penalties, fines, ERISA
excise taxes or penalties and amounts paid or to be paid in settlement) incurred or suffered by the Executive in connection therewith,
and such indemnification shall continue as to the Executive even if he has ceased to be a director, officer or employee of the Company
or a director, officer, member, employee, agent, manager, consultant or representative of such other person and shall inure to the benefit
of the Executive’s heirs, executors and administrators. To the extent permitted by law, the Company shall advance to the Executive
all costs and expenses incurred by him in connection with any such Proceeding or Claim within thirty (30) days after receiving written
notice requesting such an advance. Such notice shall include an undertaking by the Executive to repay the amount advanced if he is ultimately
determined not to be entitled to indemnification against such costs and expenses.

 

19.2   Neither the failure of the Company (including its Board, independent
legal counsel or stockholders) to have made a determination in connection with any request for indemnification or advancement under Section 19.1
that the Executive has satisfied any applicable standard of conduct, nor a determination by the Company (including its Board, independent
legal counsel or stockholders) that the Executive has not met any applicable standard of conduct, shall create a presumption that the
Executive has not met an applicable standard of conduct.

 

19.3   During the Period of Employment and for a period of six (6) years
thereafter, the Company shall keep in place a directors and officers’ liability insurance policy (or policies) providing comprehensive
coverage to the Executive if and to the extent that the Company provides such coverage for any other present or former senior executive
or director of the Company.

 

19.4   The provisions of this Section 19 shall apply to the estate, executor,
administrator, heirs, legatees or devisees of the Executive and shall survive any termination of this Agreement.

 

    19

     

    

 

20.   Counterparts
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose
signature appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding
when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon
as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

21. Legal Counsel; Mutual Drafting Each party recognizes
that this is a legally binding contract and acknowledges and agrees that such party has had the opportunity to consult with legal counsel
of such party’s choice. Each party has cooperated in the drafting, negotiation and preparation of this Agreement. Hence, in any
construction to be made of this Agreement, the same shall not be construed against either party on the basis of that party being the
drafter of such language. The Executive agrees and acknowledges that the Executive has read and understands this Agreement, is entering
into it freely and voluntarily, and has been advised to seek counsel prior to entering into this Agreement and has had ample opportunity
to do so.

 

22. Further Assurances Each party shall execute and
cause to be delivered to each other party hereto such documents and other instruments and take such further actions as may be reasonably
necessary to carry out the provisions hereof.

 

[The remainder of this page has intentionally
been left blank.]

 

    20

     

    

 

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

 

	 	“COMPANY”
	 	 	 
	 	Bowlero Corp., a Delaware corporation
	 	 	 
	 	By: 	/s/ Jason F. Cohen

 

	 	Name:	Jason F. Cohen
	 	Title:	Chief Legal Officer

 

	 	“EXECUTIVE”
	 	 	 
	 	/s/ Thomas F. Shannon 

 
	 	Thomas F. Shannon

 

Signature Page to Employment Agreement

 

     

     

    

 

EXHIBIT A

 

Stock Option Award Agreement (Reallocated
Option)

 

[See attached]

 

    A-1

     

    

 

BOWLERO
CORP.

2021
Omnibus Incentive Plan

Notice
of OPTION Grant

(Reallocated option)

 

	Participant:	 	Thomas F. Shannon
	 	 	 
	# of Shares Subject to Option:	 	482,784 shares of Class B Common Stock of the Company, par value $0.00001 per share (the “Shares”).
	 	 	 
	Date of Grant:	 	December 15, 2021
	 	 	 
	Exercise Price Per Share:	 	$10.00
	 	 	 
	Vesting Schedule:	 	The Option will be fully vested and exercisable as of the Date of Grant.
	 	 	 
	Type of Option:	 	Nonqualified Stock Option

 

By signing your name below, you accept the Option
and acknowledge and agree that the Option is granted under and governed by the terms and conditions of the Bowlero Corp. 2021 Omnibus
Incentive Plan and the Option Award Agreement set forth on Annex I, each of which are hereby made a part of this document. The
Option is not intended to qualify as an Incentive Stock Option.

 

	Participant	 	Bowlero Corp.
	 	 	 	 
	 	 	By:	 
	 	 	Title:	 

 

    A-2

     

    

 

BOWLERO CORP.

2021
Omnibus Incentive Plan

OPTION AWARD AGREEMENT

 

Pursuant to the Notice of
Option Grant (“Grant Notice”) and this Option Award Agreement (this “Award Agreement”), Bowlero
Corp. (together with its Subsidiaries, whether existing or thereafter acquired or formed, and any and all successor entities, the “Company”)
has granted the Participant an Option (the “Option”) under the Bowlero Corp. 2021 Omnibus Incentive Plan (the “Plan”)
with respect to the number of Shares indicated in the Grant Notice. The Option represents the right to purchase the number of Shares indicated
in the Grant Notice, on the terms and conditions set forth in this Award Agreement and the Plan. The Option is granted to the Participant
effective as of the Date of Grant. Capitalized terms not defined in this Award Agreement or in the Grant Notice but defined in the Plan
will have the same definitions as in the Plan.

 

1.   Vesting;
Exercise.

 

(a)   Vesting.
The Option will be fully vested and exercisable as of the Date of Grant.

 

(b)   Method
of Exercise and Form of Payment.  No Shares will be delivered pursuant to any exercise of the Option until the Participant
has paid in full to the Company the exercise price and an amount equal to any U.S. federal, state, local and non-U.S. income and employment
taxes required to be withheld. The Option may be exercised by delivery of written or electronic notice of exercise to the Company or its
designee (including a third-party administrator) in accordance with the terms hereof. The exercise price and all applicable required withholding
taxes will be payable (i) in cash, check, cash equivalent and/or in shares of Common Stock valued at the Fair Market Value at the time
the Option is exercised (including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient
number of shares in lieu of actual delivery of such shares to the Company); provided that such shares are not subject to any pledge
or other security interest, (ii) if there is a public market for the Shares at such time, subject to the Company’s Securities Trading
Policy and applicable law, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered a
copy of irrevocable instructions to a stockbroker to sell the Shares otherwise deliverable upon the exercise of the Option and to deliver
promptly to the Company an amount equal to the exercise price and all applicable required withholding taxes, or (iii) by such other method
as the Committee may permit, including without limitation: (A) in other property having a Fair Market Value equal to the exercise price
and all applicable required withholding taxes or (B) by means of a “net exercise” procedure effected by withholding the minimum
number of Shares otherwise deliverable in respect of an Option that are needed to pay for the exercise price and all applicable required
withholding taxes. Any fractional Shares resulting from the application of this Section 1(b) will be settled in cash.

 

 2. Expiration.

 

(a)   Option
Period. In no event will all or any portion of the Option be exercisable after the tenth anniversary of the Date of Grant (such ten-year
period, the “Option Period”); provided, that if the Option Period would expire at a time when trading in the
Shares is prohibited by the Company’s Securities Trading Policy (or a Company-imposed “blackout period”), the Option
Period will be automatically extended until the 30th day following the expiration of such prohibition (so long as such extension
will not violate Section 409A of the Code).

 

    A-3

     

    

 

(b)   Post-Termination
Exercise.

 

(i)   If,
prior to the end of the Option Period, the Participant’s employment is terminated by the Company without Cause or by the Participant
for any reason, then the Option will expire on the earlier of the last day of the Option Period and the date that is 90 days after the
date of such termination; provided, however, that if the Participant is subsequently rehired, reappointed or reengaged by
the Company or any Affiliate within 90 days following such termination and prior to the expiration of the Option, the Participant will
not be considered to have undergone a termination of employment.

 

(ii)   If
(A) the Participant’s employment with the Company is terminated prior to the end of the Option Period on account of the Participant’s
Disability, (B) the Participant dies while still employed by the Company or (C) the Participant dies following a termination described
in subsection (A) above but prior to the expiration of the Option, the Option will expire on the earlier of the last day of the Option
Period and the first anniversary of the date of death or termination on account of Disability, as applicable.

 

(iii)   If
the Participant’s employment is terminated by the Company for Cause, the Option will expire immediately on such termination.

 

3.   Rights
as a Stockholder. The Participant will have no voting rights with respect to the Option unless and until the Participant becomes
the record owner of the Shares subject to the Option.

 

4.   Tax
Withholding. The Participant will be solely responsible for any applicable taxes (including, without limitation, income and excise
taxes) and penalties, and any interest that accrues thereon, that the Participant incurs in connection with the receipt, vesting or exercise
of the Option. Without limiting Section 1(b), the Company will be authorized to withhold from the Option the amount (in cash or Shares,
or any combination thereof) of applicable withholding taxes due in respect of the Option, its exercise or any payment or transfer under
the Option and to take such other action (including providing for elective payment of such amounts in cash or other property by the Participant)
as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes; provided, however,
that no Shares will be withheld with a value exceeding the maximum statutory rates in the applicable tax jurisdictions.

 

5.   Clawback;
Forfeiture; Detrimental Conduct. The Option will be subject to the clawback, forfeiture and detrimental conduct provisions set
forth in Section 14(t) of the Plan.

 

6.   No
Repricing. The Option will be subject to the prohibition on repricing set forth in Section 13(b) of the Plan.

 

    A-4

     

    

 

 7. Miscellaneous.

 

(a)   Compliance
with Legal Requirements. The granting of the Option, and any other obligations of the Company under this Award Agreement, will be
subject to all applicable U.S. federal, state and local laws, rules and regulations, all applicable non-U.S. laws, rules and regulations
and to such approvals by any regulatory or governmental agency as may be required. The Participant agrees to take all steps that the Committee
or the Company determines are reasonably necessary to comply with all applicable provisions of U.S. federal and state securities law and
non-U.S. securities law in exercising the Participant’s rights under this Award Agreement.

 

(b)   Transferability.
The Option will be subject to the transfer restrictions set forth in Section 14(b) of the Plan. The Participant acknowledges and agrees
that pursuant to the terms of the Lock-Up Agreement, dated as of July 1, 2021 (the “Lock-Up Agreement”), by and among
Isos Acquisition Corporation, the Company and the Participant, during the Lock-Up Period (as defined in the Lock-Up Agreement), the Option,
and any Shares issued on any exercise of the Option, will be subject to the limitations on disposition set forth in the Lock-Up Agreement.

 

(c)   Participant’s
Employment or Other Service Relationship. Nothing in the Option will confer upon the Participant any right to continue the Participant’s
employment or other service relationship with the Company or any of its Affiliates or interfere in any way with the right of the Company
or any of its Affiliates or stockholders, as applicable, to terminate the Participant’s employment or other service relationship
with the Company or its Affiliates or to increase or decrease the Participant’s compensation at any time. The grant of the Option
is a one-time benefit and does not create any contractual or other right to receive any other grant of other Awards under the Plan in
the future. The grant of the Option does not form part of the Participant’s entitlement to compensation or benefits in terms of
the Participant’s employment or other service relationship with the Company or its Affiliates.

 

(d)   Waiver.
No amendment or modification of any provision of this Award Agreement will be effective unless signed in writing by or on behalf of the
Company and the Participant, except that the Company may amend or modify this Award Agreement without the Participant’s consent
in accordance with the provisions of the Plan or as otherwise set forth in this Award Agreement. No waiver of any breach or condition
of this Award Agreement will be deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature.
Any amendment or modification of or to any provision of this Award Agreement, or any waiver of any provision of this Award Agreement,
will be effective only in the specific instance and for the specific purpose for which made or given.

 

(e)   Section 409A.
The Option is not intended to be subject to Section 409A of the Code. This Award Agreement is intended to comply with the requirements
of Section 409A of the Code, and the provisions of this Award Agreement will be interpreted in a manner that satisfies the requirements
of Section 409A of the Code, and this Award Agreement will be operated accordingly. If any provision of this Award Agreement or any term
or condition of the Option would otherwise conflict with this intent, the provision, term or condition will be interpreted and deemed
amended so as to avoid this conflict. Notwithstanding the foregoing, the tax treatment of the benefits provided under this Award Agreement
is not warranted or guaranteed, and in no event will the Company be liable for all or any portion of any taxes, penalties, interest or
other expenses that may be incurred by the Participant on account of non-compliance with Section 409A of the Code.

 

    A-5

     

    

 

(f)   Notices.
All notices, requests and other communications under this Award Agreement will be in writing and will be delivered in person (by courier
or otherwise), mailed by certified or registered mail, return receipt requested to the contact details below. The parties may use e-mail
delivery, so long as the message is clearly marked, sent to the e-mail address(es) set forth below.

 

if to the Company, to: 

 

Bowlero Corp.

Attention: Chief Legal Officer

7313 Bell Creek Road

Mechanicsville, VA 23111

 

if to the Participant, to the address, facsimile number or e-mail address
that the Participant most recently provided to the Company, or to such other address, facsimile number or e-mail address as such party
may hereafter specify for the purpose by notice to the other parties hereto.

 

(g)   Severability.
The invalidity or unenforceability of any provision of this Award Agreement will not affect the validity or enforceability of any other
provision of this Award Agreement, and each other provision of this Award Agreement will be severable and enforceable to the extent permitted
by law.

 

(h)   Successors.
The terms of this Award Agreement will be binding upon and inure to the benefit of the Company and its successors and assigns, and of
the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant.

 

(i)   Entire
Agreement. The Participant acknowledges receipt of a copy of the Plan and represents that the Participant is familiar with the terms
and provisions thereof (and has had an opportunity to consult counsel regarding the Option terms), and hereby accepts the grant of the
Option and agrees to be bound by its contractual terms as set forth herein and in the Plan. The Participant acknowledges and agrees that
the grant of the Option constitutes additional consideration to the Participant for the Participant’s continued and future compliance
with any restrictive covenants in favor of the Company by which the Participant is otherwise bound. The Participant hereby agrees to accept
as binding, conclusive and final all decisions and interpretations of the Committee regarding any questions relating to the Option. In
the event of a conflict between the terms and provisions of the Plan and the terms and provisions of this Award Agreement, the Plan terms
and provisions will prevail. This Award Agreement, including the Plan, constitutes the entire agreement between the Participant and the
Company on the subject matter hereof and supersedes all proposals, written or oral, and all other communications between the parties relating
to such subject matter.

 

    A-6

     

    

 

(j)   Governing
Law. This Award Agreement will be construed and interpreted in accordance with the laws of the State of Delaware, without regard to
principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application
of the laws of any jurisdiction other than the State of Delaware.

 

(k)   Electronic
Signature and Delivery. This Award Agreement may be accepted by return signature or by electronic confirmation. By accepting this
Award Agreement, the Participant consents to the electronic delivery of prospectuses, annual reports and other information required to
be delivered by U.S. Securities and Exchange Commission rules (which consent may be revoked in writing by the Participant at any time
upon three business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information will
be delivered in hard copy to the Participant).

 

(l)   Electronic
Participation in Plan. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation
in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate
in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

 

[Remainder of page intentionally blank] 

 

    A-7

     

    

 

EXHIBIT B

 

Stock Option Award Agreement (Initial Option)

 

[See attached]

 

    B-1

     

    

 

BOWLERO
CORP.

2021
Omnibus Incentive Plan

Notice
of OPTION Grant

(Initial option)

 

	Participant:	 	Thomas F. Shannon
	 	 	 
	# of Shares Subject to Option:	 	6,781,250 shares of Class A Common Stock of the Company, par value $0.00001 per share (the “Shares”).
	 	 	 
	Date of Grant:	 	December 15, 2021
	 	 	 
	Exercise Price Per Share:	 	$10.00 for 20% of the Option (“Tranche 1”)
	 	 	 
	 	 	$12.00 for 20% of the Option (“Tranche 2”)
	 	 	 
	 	 	$14.00 for 20% of the Option (“Tranche 3”)
	 	 	 
	 	 	$16.00 for 20% of the Option (“Tranche 4”)
	 	 	 
	 	 	$18.00 for 20% of the Option (“Tranche 5”)
	 	 	 
	Vesting Schedule:	 	The Option will vest in accordance with terms of the Award Agreement attached hereto as Annex I. On vesting, the Option will no longer be subject to cancellation pursuant to Section 2(a) of the Award Agreement.
	 	 	 
	Type of Option:	 	Nonqualified Stock Option

 

By signing your name below, you accept the Option
and acknowledge and agree that the Option is granted under and governed by the terms and conditions of the Bowlero Corp. 2021 Omnibus
Incentive Plan and the Option Award Agreement set forth on Annex I, each of which are hereby made a part of this document. The
Option is not intended to qualify as an Incentive Stock Option.

 

	Participant	 	Bowlero Corp.
	 	 	 	 
	 	 	By:	 
	 	 	Title:	 

 

 

    B-2

     

    

 

BOWLERO CORP.

2021
Omnibus Incentive Plan

OPTION AWARD AGREEMENT

 

Pursuant to the Notice of
Option Grant (“Grant Notice”) and this Option Award Agreement (this “Award Agreement”), Bowlero
Corp. (together with its Subsidiaries, whether existing or thereafter acquired or formed, and any and all successor entities, the “Company”)
has granted the Participant an Option (the “Option”) under the Bowlero Corp. 2021 Omnibus Incentive Plan (the “Plan”)
with respect to the number of Shares indicated in the Grant Notice. The Option represents the right to purchase the number of Shares indicated
in the Grant Notice, on the terms and conditions set forth in this Award Agreement and the Plan. The Option is granted to the Participant
effective as of the Date of Grant. Capitalized terms not defined in this Award Agreement or in the Grant Notice but defined in the Plan
will have the same definitions as in the Plan.

 

 1. Vesting; Exercise.

 

(a)   Vesting.
The Option will vest and become exercisable as follows:

 

(i)   Tranche
1 will vest and become exercisable in one-third installments on each of the first, second and third anniversaries of the Date of Grant.

 

(ii)   Tranche
2 will vest and become exercisable in one-third installments on each of the second, third and fourth anniversaries of the Date of Grant.

 

(iii)   Tranche
3 will vest and become exercisable in one-third installments on each of the third, fourth and fifth anniversaries of the Date of Grant.

 

(iv)   Tranche
4 will vest and become exercisable in one-third installments on each of the fourth, fifth and sixth anniversaries of the Date of Grant.

 

(v)   Tranche
5 will vest and become exercisable in one-third installments on each of the fifth, sixth and seventh anniversaries of the Date of Grant.

 

(b)   Method
of Exercise and Form of Payment.  No Shares will be delivered pursuant to any exercise of the Option until the Participant
has paid in full to the Company the exercise price and an amount equal to any U.S. federal, state, local and non-U.S. income and employment
taxes required to be withheld. The Option may be exercised by delivery of written or electronic notice of exercise to the Company or its
designee (including a third-party administrator) in accordance with the terms hereof. The exercise price and all applicable required withholding
taxes will be payable (i) in cash, check, cash equivalent and/or in shares of Common Stock valued at the Fair Market Value at the time
the Option is exercised (including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient
number of shares in lieu of actual delivery of such shares to the Company); provided that such shares are not subject to any pledge
or other security interest, (ii) if there is a public market for the Shares at such time, subject to the Company’s Securities Trading
Policy and applicable law, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered a
copy of irrevocable instructions to a stockbroker to sell the Shares otherwise deliverable upon the exercise of the Option and to deliver
promptly to the Company an amount equal to the exercise price and all applicable required withholding taxes, or (iii) by such other method
as the Committee may permit, including without limitation: (A) in other property having a Fair Market Value equal to the exercise price
and all applicable required withholding taxes or (B) by means of a “net exercise” procedure effected by withholding the minimum
number of Shares otherwise deliverable in respect of an Option that are needed to pay for the exercise price and all applicable required
withholding taxes. Any fractional Shares resulting from the application of this Section 1(b) will be settled in cash.

 

    B-3

     

    

 

2.   Termination
of Employment.

 

(a)   Subject
to Section 2(b), if the Participant’s employment with the Company terminates at any time, the unvested portion of the Option will
be canceled immediately and the Participant will not be entitled to receive any payments with respect thereto.

 

(b)   If,
during the Change in Control Period, the Participant’s employment is terminated by the Company without Cause (and other than due
to the Participant’s death or Disability), or as a result of a resignation by the Participant for Good Reason, the Option will become
fully vested and exercisable as of immediately prior to such termination; provided that if such termination or resignation occurs
during the Change in Control Period but prior to the Change in Control, the Option will become fully vested and exercisable as of immediately
prior to the Change in Control. “Change in Control Period”, “Cause”, “Disability” and “Good
Reason” have the meanings assigned to them in the Employment Agreement, dated as of the Date of Grant, by and between the Company
and the Participant.

 

 3. Expiration.

 

(a)   Option
Period. In no event will all or any portion of the Option be exercisable after the tenth anniversary of the Date of Grant (such ten-year
period, the “Option Period”); provided, that if the Option Period would expire at a time when trading in the
Shares is prohibited by the Company’s Securities Trading Policy (or a Company-imposed “blackout period”), the Option
Period will be automatically extended until the 30th day following the expiration of such prohibition (so long as such extension
will not violate Section 409A of the Code).

 

(b)   Post-Termination
Exercise.

 

(i)   If,
prior to the end of the Option Period, the Participant’s employment is terminated by the Company without Cause or by the Participant
for any reason, then the Option will expire on the earlier of the last day of the Option Period and the date that is 90 days after the
date of such termination; provided, however, that if the Participant is subsequently rehired, reappointed or reengaged by
the Company or any Affiliate within 90 days following such termination and prior to the expiration of the Option, the Participant will
not be considered to have undergone a termination of employment.

 

(ii)   If
(A) the Participant’s employment with the Company is terminated prior to the end of the Option Period on account of the Participant’s
Disability, (B) the Participant dies while still employed by the Company or (C) the Participant dies following a termination described
in subsection (A) above but prior to the expiration of the Option, the Option will expire on the earlier of the last day of the Option
Period and the first anniversary of the date of death or termination on account of Disability, as applicable.

 

    B-4

     

    

 

(iii)   If
the Participant’s employment is terminated by the Company for Cause, the Option will expire immediately on such termination.

 

4.   Rights
as a Stockholder. The Participant will have no voting rights with respect to the Option unless and until the Participant becomes
the record owner of the Shares subject to the Option.

 

5.   Tax
Withholding. The Participant will be solely responsible for any applicable taxes (including, without limitation, income and excise
taxes) and penalties, and any interest that accrues thereon, that the Participant incurs in connection with the receipt, vesting or exercise
of the Option. Without limiting Section 1(b), the Company will be authorized to withhold from the Option the amount (in cash or Shares,
or any combination thereof) of applicable withholding taxes due in respect of the Option, its exercise or any payment or transfer under
the Option and to take such other action (including providing for elective payment of such amounts in cash or other property by the Participant)
as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes; provided, however,
that no Shares will be withheld with a value exceeding the maximum statutory rates in the applicable tax jurisdictions.

 

6.   Clawback;
Forfeiture; Detrimental Conduct. The Option will be subject to the clawback, forfeiture and detrimental conduct provisions set
forth in Section 14(t) of the Plan.

 

7.   No
Repricing. The Option will be subject to the prohibition on repricing set forth in Section 13(b) of the Plan.

 

 8. Miscellaneous.

 

(a)   Compliance
with Legal Requirements. The granting of the Option, and any other obligations of the Company under this Award Agreement, will be
subject to all applicable U.S. federal, state and local laws, rules and regulations, all applicable non-U.S. laws, rules and regulations
and to such approvals by any regulatory or governmental agency as may be required. The Participant agrees to take all steps that the Committee
or the Company determines are reasonably necessary to comply with all applicable provisions of U.S. federal and state securities law and
non-U.S. securities law in exercising the Participant’s rights under this Award Agreement.

 

(b)   Transferability.
The Option will be subject to the transfer restrictions set forth in Section 14(b) of the Plan. The Participant acknowledges and agrees
that pursuant to the terms of the Lock-Up Agreement, dated as of July 1, 2021 (the “Lock-Up Agreement”), by and among
Isos Acquisition Corporation, the Company and the Participant, during the Lock-Up Period (as defined in the Lock-Up Agreement), the Option,
and any Shares issued on any exercise of the Option, will be subject to the limitations on disposition set forth in the Lock-Up Agreement.

 

(c)   Participant’s
Employment or Other Service Relationship. Nothing in the Option will confer upon the Participant any right to continue the Participant’s
employment or other service relationship with the Company or any of its Affiliates or interfere in any way with the right of the Company
or any of its Affiliates or stockholders, as applicable, to terminate the Participant’s employment or other service relationship
with the Company or its Affiliates or to increase or decrease the Participant’s compensation at any time. The grant of the Option
is a one-time benefit and does not create any contractual or other right to receive any other grant of other Awards under the Plan in
the future. The grant of the Option does not form part of the Participant’s entitlement to compensation or benefits in terms of
the Participant’s employment or other service relationship with the Company or its Affiliates.

 

    B-5

     

    

 

(d)   Waiver.
No amendment or modification of any provision of this Award Agreement will be effective unless signed in writing by or on behalf of the
Company and the Participant, except that the Company may amend or modify this Award Agreement without the Participant’s consent
in accordance with the provisions of the Plan or as otherwise set forth in this Award Agreement. No waiver of any breach or condition
of this Award Agreement will be deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature.
Any amendment or modification of or to any provision of this Award Agreement, or any waiver of any provision of this Award Agreement,
will be effective only in the specific instance and for the specific purpose for which made or given.

 

(e)   Section 409A.
The Option is not intended to be subject to Section 409A of the Code. This Award Agreement is intended to comply with the requirements
of Section 409A of the Code, and the provisions of this Award Agreement will be interpreted in a manner that satisfies the requirements
of Section 409A of the Code, and this Award Agreement will be operated accordingly. If any provision of this Award Agreement or any term
or condition of the Option would otherwise conflict with this intent, the provision, term or condition will be interpreted and deemed
amended so as to avoid this conflict. Notwithstanding the foregoing, the tax treatment of the benefits provided under this Award Agreement
is not warranted or guaranteed, and in no event will the Company be liable for all or any portion of any taxes, penalties, interest or
other expenses that may be incurred by the Participant on account of non-compliance with Section 409A of the Code.

 

(f)   Notices.
All notices, requests and other communications under this Award Agreement will be in writing and will be delivered in person (by courier
or otherwise), mailed by certified or registered mail, return receipt requested to the contact details below. The parties may use e-mail
delivery, so long as the message is clearly marked, sent to the e-mail address(es) set forth below.

 

if to the Company, to: 

 

Bowlero Corp.

Attention: Chief Legal Officer

7313 Bell Creek Road

Mechanicsville, VA 23111

 

if to the Participant, to the address, facsimile
number or e-mail address that the Participant most recently provided to the Company, or to such other address, facsimile number or e-mail
address as such party may hereafter specify for the purpose by notice to the other parties hereto.

 

    B-6

     

    

 

(g)   Severability.
The invalidity or unenforceability of any provision of this Award Agreement will not affect the validity or enforceability of any other
provision of this Award Agreement, and each other provision of this Award Agreement will be severable and enforceable to the extent permitted
by law.

 

(h)   Successors.
The terms of this Award Agreement will be binding upon and inure to the benefit of the Company and its successors and assigns, and of
the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant.

 

(i)   Entire
Agreement. The Participant acknowledges receipt of a copy of the Plan and represents that the Participant is familiar with the terms
and provisions thereof (and has had an opportunity to consult counsel regarding the Option terms), and hereby accepts the grant of the
Option and agrees to be bound by its contractual terms as set forth herein and in the Plan. The Participant acknowledges and agrees that
the grant of the Option constitutes additional consideration to the Participant for the Participant’s continued and future compliance
with any restrictive covenants in favor of the Company by which the Participant is otherwise bound. The Participant hereby agrees to accept
as binding, conclusive and final all decisions and interpretations of the Committee regarding any questions relating to the Option. In
the event of a conflict between the terms and provisions of the Plan and the terms and provisions of this Award Agreement, the Plan terms
and provisions will prevail. This Award Agreement, including the Plan, constitutes the entire agreement between the Participant and the
Company on the subject matter hereof and supersedes all proposals, written or oral, and all other communications between the parties relating
to such subject matter.

 

(j)   Governing
Law. This Award Agreement will be construed and interpreted in accordance with the laws of the State of Delaware, without regard to
principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application
of the laws of any jurisdiction other than the State of Delaware.

 

(k)   Electronic
Signature and Delivery. This Award Agreement may be accepted by return signature or by electronic confirmation. By accepting this
Award Agreement, the Participant consents to the electronic delivery of prospectuses, annual reports and other information required to
be delivered by U.S. Securities and Exchange Commission rules (which consent may be revoked in writing by the Participant at any time
upon three business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information will
be delivered in hard copy to the Participant).

 

(l)   Electronic
Participation in Plan. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation
in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate
in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

 

[Remainder of page intentionally blank]

 

    B-7

     

    

 

EXHIBIT C

 

Certain Definitions

 

For purposes of this Agreement the following terms have the following
meanings:

 

“Accrued Obligations” means:

 

		(i)	any Base Salary that had accrued but had not been paid (including accrued and unpaid vacation time) on or before the Termination Date;

 

		(ii)	other than in the event of the Executive’s termination by the Company for Cause or by the Executive without Good Reason, any
Annual Incentive Bonus payable pursuant to Section 3.2 with respect to the fiscal year immediately preceding the fiscal year in which
the Termination Date occurs that had not previously been paid, paid when Annual Incentive Bonus payments are made to active employees
but in no event later than December 31 of the calendar year in which the Termination Date occurs;

 

		(iii)	any reimbursement due to the Executive pursuant to Section 4.2 for expenses incurred by the Executive through the Termination
Date; and

 

		(iv)	any other amounts or benefits required to be paid or provided by law or under any employee benefit plan, program, policy or practice
of the Company.

 

Subject to Section 18, all amounts in (i) and (iii) shall be paid
promptly after the Termination Date, the amount in (ii) shall be paid in accordance with (ii), and the amounts and benefits in (iv) shall
be paid or provided in accordance with their terms.

 

“Affiliate” means a Person that directly or indirectly
through one or more intermediaries, controls, or is controlled by, or is under common control with, the Company. As used in this definition,
the term “control,” including the correlative terms “controlling,” “controlled by” and “under
common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of management
or policies (whether through ownership of securities or any partnership or other ownership interest, by contract or otherwise) of a Person.

 

“Cause” shall mean that, during the Period of Employment,
any of the following events exists or has occurred:

 

		(i)	the Executive is convicted of, or pleads guilty or nolo contendre to, a felony (under the laws of the United States or any
relevant state, or a similar crime or offense under the applicable laws of any relevant foreign jurisdiction);

 

		(ii)	the Executive willfully commits an act of fraud, dishonesty or other act of willful misconduct in the course of the Executive’s
duties hereunder that has an adverse impact on the Company or any Affiliate that is not immaterial, after the Company has delivered to
the Executive a written notice which describes the basis for the Board’s belief that the Executive has willfully committed such
act;

 

    C-8

     

    

 

		(iii)	the Executive willfully fails to perform the Executive’s duties under this Agreement and/or willfully fails to comply with reasonable
directives of the Board, in either case after the Company has delivered to the Executive a written demand for performance which describes
the basis for the Board’s belief that the Executive has violated the Executive’s obligations to the Company, or failed to
comply with any such directives, as applicable, and the Executive fails to cure such alleged violation or failure within thirty (30) days
after receipt of such notice; or

 

		(iv)	any material breach by the Executive of (A) this Agreement or (B) any material Company policy that was communicated to the Executive
in writing that, in either case, (x) has or could reasonably be expected to have an adverse impact on the Company or any Affiliate that
is not immaterial and (y) after the Company has delivered to the Executive a written notice which describes the basis for the Board’s
belief that the Executive has materially breach this Agreement or such policy, and the Executive fails to cure such alleged breach within
thirty (30) days after receipt of such notice.

 

However, no act or failure to act, on the Executive’s part shall
be considered “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief
that the Executive’s action or omission was in the best interest of the Company. A determination by the Board that Cause exists
shall be effective only if approved by at least a majority of the Board (not counting the Executive if he is then a member of the Board)
voting in person or virtually at a meeting at which the Executive is entitled to be present (with counsel) and respond to any basis that
may be asserted as constituting Cause.

 

“Change in Control” has the meaning assigned to
it in the Omnibus Plan.

 

“Change in Control Period” means the period (i)
beginning on the date of the Company’s entry into a definitive agreement the consummation of the transactions contemplated thereby
would result in a Change in Control (unless such agreement is abandoned or terminated in accordance with its terms prior to the occurrence
of a Change in Control) and (ii) ending on the 24-month anniversary of such Change in Control.

 

“Disability” means a physical or mental impairment
which has rendered the Executive unable to perform the essential functions of his employment with the Company (with or without reasonable
accommodation) for more than 180 calendar days in any 12-month period, unless a longer period is required by federal or state law, in
which case that longer period would apply. The determination of whether or not a Disability exists for purposes of this Agreement shall
be based upon the findings of a qualified medical doctor reasonably agreed to by the Company and the Executive (or, in the event of the
Executive’s incapacity, his legal representative). In the absence of agreement between the Company and the Executive, each party
shall nominate a qualified medical doctor, and the two doctors so nominated shall select a third qualified medical doctor, who shall make
the determination as to Disability. The Company shall bear the costs of any such determinations.

 

    C-9

     

    

 

“Good Reason” means a resignation by the Executive
after the occurrence (without the Executive’s consent) of any one or more of the following conditions caused by the Company:

 

		(i)	a diminution in the Executive’s rate of Base Salary from the rate then in effect or any diminution in compensation due to the
Executive pursuant to Section 3.2 or 3.3 hereof;

 

		(ii)	a material diminution in the Executive’s authority, duties, responsibilities or status, including, without limitation, any change
in title or position such that the Executive is no longer the President and Chief Executive Officer of the Company; provided that
the Company ceasing to be a publicly traded company will not, in and of itself, constitute a material diminution in the Executive’s
authority, duties, responsibilities or status;

 

		(iii)	any failure to nominate the Executive for reelection to the Board;

 

		(iv)	the failure of the Company to obtain the assumption in writing of its obligations to perform this Agreement by any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the
Company as contemplated by Section 8 hereof;

 

		(v)	any requirement that the Executive not be permitted to work remotely (other than travel as necessary in performing the Executive’s
duties for the Company, including travel to the Company’s headquarters and other locations as necessary);

 

		(vi)	the Company provides notice to the Executive, pursuant to Section 2 of this Agreement, that the Executive’s Period of Employment
will not be renewed; or

 

		(vii)	a material breach by the Company of this Agreement;

 

provided, however, that the existence of the condition
or conditions described in provisions (i) through (v) and (vii) above, each as applicable, shall not constitute Good Reason unless both
(x) the Executive provides written notice to the Company of the condition claimed to constitute Good Reason within sixty (60) days
after the Executive has (or reasonably should have) knowledge of the initial existence of such condition(s), and (y) the Company
fails to remedy such condition(s) within thirty (30) days of receiving such written notice thereof; and provided, further,
that in all events the termination of the Executive’s employment with the Company shall not constitute a termination for Good Reason
unless such termination occurs not more than one hundred and twenty (120) days after the Executive has (or reasonably should have) knowledge
of the initial existence of the condition claimed to constitute Good Reason.

 

“Person” shall be construed broadly and shall include,
without limitation, an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a
trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

 

“Separation from Service” means a “separation
from service” (within the meaning of Section 409A of the Code).

 

“Subsidiary” means any corporation or entity in
which the Company owns or controls directly or indirectly fifty percent (50%) or more of the voting power or economic interests of such
corporation or entity.

 

    C-10

     

    

 

EXHIBIT D

 

Form of Mutual Release

 

1.   Release
by the Executive. Thomas F. Shannon (the “Executive”), on his own behalf and on behalf of his descendants, dependents,
heirs, executors, administrators, assigns and successors, and each of them, hereby acknowledges full and complete satisfaction of and
releases and discharges and covenants not to sue Bowlero Corp. (the “Company”), its divisions, subsidiaries, parents,
or affiliated corporations, past and present, and each of them, as well as its and their assignees, successors, directors, officers, stockholders,
partners, representatives, attorneys, agents or employees, past or present, or any of them (individually and collectively, “Releasees”),
from and with respect to any and all claims, agreements, obligations, demands and causes of action, known or unknown, suspected or unsuspected,
arising out of or in any way connected with the Executive’s employment or any other relationship with or interest in the Company,
and each of them, or the termination thereof, including without limiting the generality of the foregoing, any claim for severance pay,
profit sharing, bonus or similar benefit, pension, retirement, life insurance, health or medical insurance or any other fringe benefit,
or disability, or any other claims, agreements, obligations, demands and causes of action, known or unknown, suspected or unsuspected
resulting from any act or omission by or on the part of Releasees committed or omitted prior to the date of this General Release Agreement
(this “Agreement”) set forth below, including, without limiting the generality of the foregoing, any claim under Title
VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Family and Medical Leave Act, or any other federal, state
or local law, regulation or ordinance (collectively, the “Claims”); provided, however, that the Executive
does not waive or release Claims with respect to any of the following: (1) Claims arising from any breach by the Company of this
Agreement or the Executive’s right to enforce this Agreement; (2) Claims arising with respect to those provisions of the Employment
Agreement dated as of December 15, 2021 by and between the Company and the Executive (the “Employment Agreement”) that
are intended to survive the termination of the Executive’s employment with the Company, including without limitation, Sections 5
and 19 thereof; (3) any equity-based awards previously granted by the Company to the Executive, to the extent that such awards continue
after the termination of the Executive’s employment with the Company in accordance with the applicable terms of such awards; (4) any
vested right the Executive may have under any employee benefit plan, including, without limitation, any incentive or bonus plan or policy
of the Company; (5) any right to indemnification (including the advancement of legal fees) that the Executive may have pursuant to
the Employment Agreement, the bylaws or corporate charter of the Company, or under any written indemnification agreement with the Company
(or any corresponding provision of any parent, subsidiary or affiliate of the Company) with respect to any loss, damages or expenses (including
but not limited to attorneys’ fees to the extent otherwise provided) that the Executive may incur with respect to his service as
an employee, officer or director of the Company, or any of its parents, subsidiaries or affiliates; (6) with respect to any rights
that the Executive may have to insurance coverage for such losses, damages or expenses under any Company (or parent, subsidiary or affiliate)
directors and officers liability insurance policy (in the future or previously in force); (7) any rights the Executive may have to
workers’ compensation benefits or unemployment benefits under state law, or to continued medical and dental coverage under COBRA;
(8) any rights to payment of benefits that the Executive may have under a retirement plan sponsored or maintained by the Company
that is intended to qualify under Section 401(a) of the Internal Revenue Code of 1986, as amended; or (9) any rights the Executive
may have as a stockholder of the Company (or the rights of any stockholder in which the Executive has a direct or indirect beneficial
interest). In the interest of clarity, in connection with the forgoing, the Executive acknowledges and agrees that he will not provide
information to others that would support any claims against the Company or encourage or participate in any such claims. In addition, this
release does not cover any Claim that cannot be so released as a matter of applicable law. The Executive acknowledges and agrees that
he has received any and all leave and other benefits that he has been and is entitled to pursuant to the Family and Medical Leave Act
of 1993. This release does not prevent the Executive from filing a charge with or participating in an investigation by a governmental
administrative agency or cooperating as required by law with any governmental inquiry or investigation or judicial proceeding; provided,
however, that the Executive waives any right to receive any monetary award resulting from such a charge or investigation, including,
without limitation, interest, penalties, fines, and attorneys’ fees.

 

    D-1

     

    

 

2.   Release
by the Company. In consideration of the Executive’s release of claims as set forth above, the Company, on behalf of itself and
its parents, divisions, subsidiaries, parents, or affiliated corporations, hereby unconditionally and irrevocably releases and forever
discharge the Executive, his descendants, dependents, heirs, executors, administrators, assigns and successors, past, present and future,
from all Claims arising out of or in any way connected with the Executive’s employment or any other relationship with or interest
in the Company, and each of them, or the termination thereof; provided, however, that the foregoing release does not apply
to (1) any obligation of the Executive pursuant to this Agreement or Section 6 of the Employment Agreement, (2) any act
of fraud or material dishonesty by the Executive, (3) any act or activity by the Executive that constitutes a crime under applicable
law, or (4) any claims or rights related to, or arising under, that certain Stockholders’ Agreement, dated as of July 1,
2021, by and among (i) the Company, (ii) A-B Parent LLC, a Delaware limited liability company, (iii) Cobalt Recreation
LLC, a Delaware limited liability company, (iv) the Executive and (v) Atairos Group, Inc., a Cayman Islands exempted company,
or that certain Stockholder Support Agreement attached as Exhibit I to the BCA (as defined in the Employment Agreement).

 

3.   Release
of Unknown Claims. It is the intention of each of the parties hereto in executing this Agreement that the same shall be effective
as a bar to each and every claim, demand and cause of action hereinabove specified. In furtherance of this intention, each such party
hereby expressly waives any and all rights and benefits conferred upon him or it by any law, statute, or legal doctrine that would otherwise
prevent the release of unknown claims and expressly consents that this Agreement shall be given full force and effect according to each
and all of its express terms and provisions, including those related to unknown and unsuspected claims, demands and causes of action,
if any, as well as those relating to any other claims, demands and causes of action hereinabove specified. Each such party acknowledges
that he or it may hereafter discover claims or facts in addition to or different from those which such party now knows or believes to
exist with respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement, may
have materially affected this settlement. Nevertheless, each such party hereby waives any right, claim or cause of action that might arise
as a result of such different or additional claims or facts. Each such party acknowledges that he or it understands the significance and
consequence of such release and waiver.

 

    D-2

     

    

 

4.   ADEA
Waiver. The Executive expressly acknowledges and agrees that by entering into this Agreement, he is waiving any and all rights or
claims that he may have arising under the Age Discrimination in Employment Act of 1967, as amended (“ADEA”), which
have arisen on or before the date of execution of this Agreement. The Executive further expressly acknowledges and agrees that:

 

(a)   In
return for this Agreement, he will receive consideration beyond that which he was already entitled to receive before entering into this
Agreement;

 

(b)   He
is hereby advised in writing by this Agreement to consult with an attorney before signing this Agreement;

 

(c)He was given a copy of this Agreement
on [] and informed

that he had [twenty-one (21)/forty-five (45) days] within which to consider this Agreement and that if he wished to execute this Agreement
prior to expiration of such [21/45]-day period, he should execute the Acknowledgement and Waiver attached hereto as Exhibit D-1;

 

(d)   Nothing
in this Agreement prevents or precludes the Executive from challenging or seeking a determination in good faith of the validity of this
waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically authorized by
federal law; and

 

(e)   He
was informed that he has seven (7) days following the date of execution of this Agreement in which to revoke this Agreement, and
this Agreement will become null and void if the Executive elects revocation during that time. Any revocation must be in writing and delivered
in accordance with the notice provisions of the Employment Agreement, and must be received by the Company during the seven-day revocation
period. In the event that the Executive exercises his right of revocation, neither the Company nor the Executive will have any obligations
under this Agreement.

 

5.   No
Transferred Claims. The Executive represents and warrants to the Company that he has not heretofore assigned or transferred to any
person not a party to this Agreement any released matter or any part or portion thereof.

 

6.   Non-Disparagement.
For three (3) years following the termination of the Executive’s employment, (i) the Executive will not disparage or defame
the Company or any of its directors or officers in any medium to any person, and (ii) the Company and its officers and directors
will not disparage or defame the Executive in any medium to any person; provided, however, that the foregoing shall not
prohibit any party from (A) giving truthful testimony in any legal proceeding pending before any agency or court of the United States
or state government or in any arbitration proceeding relating to this Agreement or otherwise required by law or any administrative or
legislative body or (B) responding to incorrect, disparaging or derogatory public statements to the extent necessary to correct or
refute such public statements.

 

    D-3

     

    

 

7.   Waiver
of Reemployment or Reinstatement. The Executive waives reemployment or reinstatement and agrees not to apply for employment or otherwise
seek to be hired, rehired, employed, reemployed, or reinstated by any Releasee. The Executive agrees that the Releasees have no obligation,
contractual or otherwise, to reemploy or reinstate him in the future.

 

8.   Miscellaneous.
The following provisions shall apply for purposes of this Agreement:

 

(a)   Successors.
This Agreement is personal to the Executive and shall not be assignable by the Executive. This Agreement shall inure to the benefit of
and be binding upon the Company, the Releasees, and their respective successors and assigns.

 

(b)   Number
and Gender. Where the context requires, the singular shall include the plural, the plural shall include the singular, and any gender
shall include all other genders.

 

(c)   Section Headings.
The section headings of, and titles of paragraphs and subparagraphs contained in, this Agreement are for the purpose of convenience only,
and they neither form a part of this Agreement nor are they to be used in the construction or interpretation thereof.

 

(d)   Governing
Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT
TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF NEW YORK OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE
LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE STATE
OF NEW YORK WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION’S CHOICE OF LAW
OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY.

 

(e)   Severability.
It is the desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible
under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision
of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable under any present
or future law, and if the rights and obligations of any party under this Agreement will not be materially and adversely affected thereby,
such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting
the validity or enforceability of such provision in any other jurisdiction, and to this end the provisions of this Agreement are declared
to be severable; furthermore, in lieu of such invalid or unenforceable provision there will be added automatically as a part of this Agreement,
a legal, valid and enforceable provision as similar in terms to such invalid or unenforceable provision as may be possible. Notwithstanding
the foregoing, if such provision could be more narrowly drawn (as to geographic scope, period of duration or otherwise) so as not to be
invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating
the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

 

    D-4

     

    

 

(f)   Modifications.
This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly
referring to this Agreement, which agreement is executed by both of the parties hereto.

 

(g)   Waiver.
Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall
operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further
exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect
to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall
be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 

(h)   Arbitration;
Waiver of Jury Trial. The Executive and the Company agree that any controversy or claim arising out of or relating to this Agreement,
its enforcement or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions,
or any other controversy or claim arising out of the Executive’s employment, including, but not limited to, any state or federal
statutory claims, shall be submitted to arbitration in accordance with the arbitration and dispute resolution provisions set forth in
the Employment Agreement. WITHOUT LIMITING THE PRECEDING SENTENCE, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

(i)   Additional
Actions. The Executive agrees to cooperate fully and to execute any and all supplementary documents and to take all additional reasonable
actions that may be necessary or appropriate to give full force to the basic terms and intent of this Agreement and that are not inconsistent
with its terms.

 

(j)   Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one
or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories.
Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

(k)   Legal
Counsel; Mutual Drafting. Each party recognizes that this is a legally binding contract and acknowledges and agrees that such party
has had the opportunity to consult with legal counsel of such party’s choice. Each party has cooperated in the drafting, negotiation
and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against either
party on the basis of that party being the drafter of such language. The Executive agrees and acknowledges that the Executive has read
and understands this Agreement, is entering into it freely and voluntarily without coercion, and has been advised to seek counsel prior
to entering into this Agreement and has had ample opportunity to do so.

 

    D-5

     

    

 

The undersigned have read and understand the consequences
of this Agreement and voluntarily sign it. The undersigned declare under penalty of perjury under the laws of the State of New York
that the foregoing is true and correct.

 

EXECUTED this ________ day of ________ 20___, at
_____________________ County, ________.

 

	 	“EXECUTIVE”
	 	 
	 	 
	 	Thomas F. Shannon

 

EXECUTED this ________ day of ________ 20___, at
_____________________ County, ________.

 

	 	“COMPANY”
	 	 	 
	 	Bowlero Corps.
	 	 	 
	 	By:	     
	 	Name: 	 
	 	Title:	 

 

    D-6

     

    

 

EXHIBIT D-1

 

ACKNOWLEDGMENT AND WAIVER

 

I, Thomas F. Shannon, hereby acknowledge that I
was given [21/45] days to consider the foregoing General Release Agreement and voluntarily chose to sign the General Release Agreement
prior to the expiration of the [21/45]-day period.

 

I declare under penalty of perjury under the laws
of the State of New York that the foregoing is true and correct.

 

EXECUTED this ___ day of ____________ 20___, at ________
County, _______.

 

	 	 	 
			Thomas F. Shannon

 

    D-7

     

    

 

EXHIBIT E

 

Prior Inventions

 

1.   Except
as listed in Section 2 below, the following is a complete list of all inventions, original works of authorship, developments, improvements
and trade secrets which relate to the Company’s or any Subsidiary’s actual or proposed business, products or research and
development that were made, conceived or first reduced to practice by me prior to my employment with the Company:

 

	 	☐	No inventions or improvements
	 	 	 
	 	☐	See below (please provide identifying number, if applicable, and a short description):
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	☐	Additional Sheets Attached

 

2.   Due
to a prior confidentiality agreement, I cannot provide a full disclosure under Section 1 above with respect to inventions or
improvements generally listed below, the proprietary rights and duty of confidentiality with respect to which I owe to the following
party(ies):

 

	
    
	Invention or Improvement	 	Party(ies)	 	Relationship
	 	 	 	 	 	 
	1.
    	 	 	 	 	 
	 	 	 	 	 	 
	2.	 	 	 	 	 
	 	 	 	 	 	 
	3.	 	 	 	 	 

 

		☐	Additional Sheets Attached

 

 

E-1Exhibit 10.20

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (this “Agreement”)
is made and entered into this 15th day of December, 2021 (the “Effective Date”), by and between Bowlero Corp., a Delaware
corporation (the “Company”), and Brett I. Parker (the “Executive”).

 

THE PARTIES ENTER THIS AGREEMENT on the
basis of the following facts, understandings and intentions:

 

A. The
Executive is currently employed by the Company, pursuant to that certain Employment Agreement, dated as of June 6, 2017 (the “Prior
Employment Agreement”).

 

B. Effective
as of the Effective Date, this Agreement shall govern the employment relationship between the Executive and the Company and shall supersede
the Prior Employment Agreement.

 

C. The
Executive desires to be employed by the Company on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the
above recitals incorporated herein and the mutual covenants and promises contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby expressly acknowledged, the parties agree as follows:

 

1.
Retention and Duties.

 

1.1
Retention. The Company hereby hires, engages and employs the Executive for the Period of Employment (as such term is
defined in Section 2) on the terms and conditions expressly set forth in this Agreement. The Executive does hereby accept and agree
to such hiring, engagement and employment, on the terms and conditions expressly set forth in this Agreement.

 

1.2
Duties. During the Period of Employment, the Executive shall serve the Company as its President, Chief Financial Officer,
Secretary and Treasurer and shall have the powers, authorities, duties and obligations of management usually vested in the office of the
President, Chief Financial Officer, Secretary and Treasurer of a company of a similar size and similar nature of the Company, and such
other powers, authorities, duties and obligations commensurate with such position as the Company’s Board of Directors (the “Board”)
may reasonably assign from time to time. During the Period of Employment, the Executive shall report directly to the Chief Executive Officer
of the Company. The Executive shall initially serve as a member of the Board and subsequently shall be nominated to serve on the Board
and, if elected, shall serve as a member of the Board, in each case, without any additional compensation therefor.

 

     

     

    

 

1.3 No Other Employment; Minimum
Time Commitment. During the Period of Employment, the Executive shall devote substantially all of his business time, energy and
skill to the performance of the Executive’s duties for the Company, and shall hold no other employment. During the Period of
Employment, the Executive may continue to serve on no more than three (3) for-profit boards of directors (or similar body) of
other business entities on which he serves as of the Effective Date, unless otherwise permitted by the Board. The Executive’s
service on any additional for-profit boards of directors (or similar body) of other business entities is subject to the prior
written approval of the Board, which approval shall not unreasonably be withheld or delayed. Nothing herein shall preclude the
Executive from (i) engaging in a reasonable level of charitable activities and community affairs, including serving on
non-profit boards of directors or the equivalent, and (ii) managing his personal and family investments and affairs, provided
that such activities do not materially interfere with the effective discharge of his duties and responsibilities to the Company. The
Company shall have the right (upon written notice and subject to the Executive fulfilling his fiduciary obligations as a member of
the applicable board or body) to require the Executive to resign from any board or similar body (including, without limitation, any
association, corporate, civic or charitable board or similar body) on which the Executive may then serve (or reduce his involvement)
if the Board reasonably determines in good faith that any business related to such service is then in competition with any business
of the Company or any Subsidiaries (as such term is defined in Exhibit C). In the event any such resignation (or
reduction in involvement) is required of the Executive, the Executive shall so resign (or reduce his involvement) as soon as he can
practicably do so without violating any fiduciary duty he may have to such other organization.

 

1.4
No Breach of Contract. The Executive hereby represents to the Company that the execution and delivery of this Agreement
by the Executive after execution and delivery by the Company, and the performance by the Executive of the Executive’s duties hereunder,
do not and shall not constitute a breach of, conflict with, or otherwise contravene or cause a default under, the terms of any other agreement
or policy to which the Executive is a party or otherwise bound or any judgment, order or decree to which the Executive is subject.

 

1.5
Location. The Executive may work remotely from any location; provided that the Executive acknowledges and agrees
to travel as necessary in performing the Executive’s duties for the Company, including travel to the Company’s headquarters
and other locations as necessary.

 

2.
Period of Employment. The “Period of Employment” shall be a period commencing on the Effective Date
and ending at the close of business on the third (3rd) anniversary of the Effective Date (such date, the “Expiration Date”);
provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically
extended for one (1) additional year on the Expiration Date and each anniversary of the Expiration Date thereafter, unless the Executive
gives notice to the Company, or the Company gives notice to the Executive, at least ninety (90) days
prior to the expiration of the Period of Employment (including any renewal thereof) of such party’s desire to terminate the Period
of Employment (such notice to be delivered in accordance with Section 17). The term “Period of Employment” shall
include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be
extended or further extended, as the case may be, shall constitute a breach of this Agreement and shall constitute “Good Reason”
for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided
below in this Agreement.

 

    2

     

    

 

3.
 Compensation.

 

3.1
Base Salary. During the Period of Employment, and for the Executive’s services to the Company, the Company shall
pay the Executive a base salary (the “Base Salary”), which shall be paid in accordance with the Company’s regular
payroll practices in effect from time to time, but not less frequently than in semi-monthly installments. The Executive’s initial
Base Salary shall be at an annualized rate of $991,000. On an annual basis, the Compensation Committee of the Board (the “Committee”)
shall review the Base Salary for possible increase (but not decrease) as determined by the Committee in its sole discretion.

 

3.2
Annual Bonus. During the Period of Employment, for each fiscal year commencing with fiscal year 2022 (which commenced
on June 27, 2021), the Executive shall have the opportunity to earn an annual bonus (the “Annual Bonus”). The target
amount of the Annual Bonus (the “Target Bonus”) shall equal no less than 100% of the Base Salary, and the maximum amount
of the Annual Bonus shall equal no less than 200% of the Base Salary. The actual amount of the Annual Bonus earned for a fiscal year shall
be based on the achievement of performance targets established by the Committee in accordance with the terms of the Company’s annual
incentive plan, with overall corporate performance goals consistent with those applicable to other senior executives. Any Annual Bonus
earned for a fiscal year shall be paid to the Executive no later than two and a half (2.5) months after the end of such fiscal year.

 

3.3
Equity Awards.

 

(a)
On the Effective Date, the Company shall grant to the Executive, pursuant to the Bowlero Corp. 2021 Omnibus Incentive Plan (the
“Omnibus Plan”), (i) an option to purchase 183,128 shares of Class A Common Stock of the Company pursuant to a stock
option award agreement substantially in the form attached hereto as Exhibit A, and (ii) an option to purchase 1,968,750 shares
of Class A Common Stock of the Company pursuant to a stock option award agreement substantially in the form attached hereto as Exhibit
B. The Executive will not be eligible for additional grants pursuant to the Company’s long-term equity incentive program until
the fifth (5th) anniversary of the Effective Date, other than any grants of Earnout Shares (as defined in the BCA) that are reallocated
to the Executive pursuant to Section 3.07 of the BCA.

 

(b) Notwithstanding anything in the applicable
referenced provision of the Omnibus Plan or particular award agreement to the contrary, with respect to the awards of stock options
granted in accordance with Section 3.3(a) and any awards of Earnout Shares granted to the Executive, (i) any waiver, amendment,
alteration, suspension, discontinuance, cancellation or termination of any such award effectuated pursuant to Section 13(b) of the
Omnibus Plan that would adversely affect the rights of the Executive with respect to such award shall not to that extent be
effective without the consent of the Executive unless the Committee determines that such waiver, amendment, alteration, suspension,
discontinuance, cancellation or termination is either required or advisable, in each case based on advice of counsel to the Company,
in order for the Company, the Plan or such award to satisfy any applicable law or regulation (for clarity, regardless of whether
such action would materially affect such rights), (ii) clause (A) of the first sentence of Section 14(t) of the Plan shall not apply
such awards, (iii) clause (B) of the first sentence of Section 14(t) of the Plan shall apply to such awards only to the extent such
conduct by Executive would constitute Cause within the meaning of this Agreement (regardless of whether the Executive remains
employed by the Company at the time of such determination), (iv) the Committee may only cancel any such award or any portion thereof
pursuant to the first sentence of Section 15(j)(iii) of the Omnibus Plan if it determines, based on advice of counsel to the
Company, that legal restrictions and/or blockage and/or other market considerations would, at all times, make the Company’s
acquisition of shares of Common Stock (as defined in the Omnibus Plan) from the public markets, the Company’s issuance of
Common Stock to the Executive, the Executive’s acquisition of Common Stock from the Company and/or the Executive’s sale
of Common Stock to the public markets illegal, and (v) if, during the Change in Control Period, but prior to a Change in Control,
the Executive’s employment with the Company is terminated by the Company without Cause (and other than due to the
Executive’s death or Disability), or as a result of a resignation by the Executive for Good Reason, such awards shall remain
outstanding and eligible to become vested in accordance with Section 5.3(c) of this Agreement until the earliest of (x) the Change
in Control, (y) the termination of the definitive agreement under which the consummation of the transactions contemplated thereby
would result in a Change in Control, and (z) December 15, 2031 (in the case of such stock options) or December 15, 2026 (in the case
of such Earnout Shares).

 

    3

     

    

 

4.
Benefits.

 

4.1
Retirement, Welfare and Fringe Benefits. During the Period of Employment, the Executive shall be entitled to participate
in all employee pension and welfare benefit plans and programs, and fringe and any other employee benefit plans and programs, made available
by the Company to its executive officers generally, in accordance with the generally applicable eligibility and participation provisions
of such plans at a level commensurate with his position, and as such plans or programs may be in effect from time to time.

 

4.2
Reimbursement of Business Expenses. The Company shall reimburse the Executive for all reasonable business expenses the
Executive incurs during the Period of Employment in connection with carrying out the Executive’s duties for the Company under this
Agreement, subject to the Company’s expense reimbursement policies in effect from time to time. In addition, the Company shall reimburse
the Executive for or pay the reasonable legal fees incurred by the Executive, in an amount not to exceed $125,000, relating to the negotiation
and preparation of this Agreement or otherwise relating to the transactions contemplated by that certain Business Combination Agreement,
dated as of July 1, 2021, by and between the Company and Isos Acquisition Corporation, a Cayman Islands exempted company.

 

4.3
Vacation and Other Leave. During the Period of Employment, the Executive shall accrue and be entitled to take paid vacation
at a rate of four (4) weeks per year (or such greater vacation benefits as may be provided under the vacation policies applicable
to the Company’s senior executives in effect from time to time), subject to the Company’s policies regarding vacation accruals,
including any policy which may limit vacation accruals and/or limit the amount of accrued but unused vacation to carry over from year
to year. The Executive shall also be entitled to all other holiday and leave pay generally available to other executives of the Company.

 

5.
 Termination.

 

5.1
Termination by the Company. The Executive’s employment by the Company, and the Period of Employment, may be terminated
at any time by the Company: (a) with Cause (as such term is defined in Exhibit C); or (b) upon not less than thirty
(30) days prior written notice to the Executive, without Cause; or (c) in the event of the Executive’s death; or (d) in
the event that it is determined that the Executive has a Disability (as such term is defined in Exhibit C). The Company may,
if it so chooses, place the Executive on paid leave of absence for any such thirty (30) day notice period referred to in clause (b)
above (or any portion of such period).

 

5.2
Termination by the Executive. The Executive’s employment by the Company, and the Period of Employment, may be
terminated by the Executive, with or without Good Reason, upon not less than thirty (30) days prior written notice to the Company; provided,
however, that in the case of a termination for Good Reason (as such term is defined in Exhibit C), the Executive may
provide immediate written notice of termination once the applicable cure period (as contemplated by the definition of Good Reason) has
lapsed if the Company has not reasonably cured the circumstances that gave rise to the basis for the Good Reason termination.

 

5.3
Benefits Upon Termination. If the Executive’s employment by the Company is terminated during the Period of Employment
for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date
that the Executive’s employment by the Company terminates is referred to as the “Termination Date”), the Company
shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain
from the Company, any payments or benefits except as follows:

 

(a)
The Company shall pay the Executive (or, in the event of the Executive’s death, the Executive’s estate) any Accrued
Obligations (as such term is defined in Exhibit C).

 

    4

     

    

 

(b)
Subject to Section 5.3(c), if, during the Period of Employment, the Executive’s employment with the Company is terminated
by the Company without Cause (and other than due to the Executive’s death or Disability), or as a result of a resignation by the
Executive for Good Reason, the Company shall pay the Executive (in addition to the Accrued Obligations) the following:

 

(i)
subject to tax withholding and other authorized deductions, an amount (the “Severance Benefit”) equal to the
sum of (x) the Executive’s Base Salary at the rate in effect on the Termination Date (without regard to any reduction in Base Salary
level that results in a Good Reason termination) plus (y) the Executive’s Target Bonus for the fiscal year of termination. Subject
to Section 18.1, the Company shall pay the Severance Benefit to the Executive in equal monthly installments (rounded down to the
nearest whole cent) over a period of twelve (12) consecutive months, with the first installment payable on (or within ten (10) days following)
the sixtieth (60th) day following the Executive’s Separation from Service (as such term is defined in Exhibit C) occurs (and
which amount shall include payment of any amounts that would otherwise be due prior thereto);

 

(ii)
 the Annual Bonus for the fiscal year of termination, determined based on actual performance for such fiscal year, as prorated
based on the number of days employed during such fiscal year, payable in accordance with Section 3.2 of this Agreement; and

 

(iii)
if the Executive and any of the Executive’s eligible dependents, in each case, who participate in the Company’s (or
any Affiliate’s) medical, dental, vision and prescription drug plans as of the Termination Date, timely elect coverage under Consolidated
Omnibus Budget Reconciliation Act (“COBRA”) for such plans, the Company shall pay directly, or reimburse the Executive
for, such COBRA premiums (on a monthly basis) for eighteen (18) months; provided that in no event shall the Company’s obligations
pursuant to this paragraph extend beyond the period in which the Company (or any Affiliate) is required to provide COBRA coverage to the
Executive and/or any of his eligible dependents; and provided, further, that the first payment or reimbursement shall be
made on the sixtieth (60th) day following the Executive’s Separation from Service (and which amount shall include payment of any
amounts that would otherwise be due prior thereto).

 

(c)
If, during the Change in Control Period (as defined in Exhibit C), the Executive’s employment with the Company is
terminated by the Company without Cause (and other than due to the Executive’s death or Disability), or as a result of a resignation
by the Executive for Good Reason, the Company shall pay the Executive (in addition to the Accrued Obligations) the following:

 

(i)
subject to tax withholding and other authorized deductions, an amount (the “CIC Severance Benefit”) equal to
the product of (x) two (2) multiplied by (y) the sum of (A) the Executive’s Base Salary at the rate in effect on the Termination
Date (without regard to any reduction in Base Salary level that results in a Good Reason termination) plus (B) the Executive’s Target
Bonus for the fiscal year of termination. Subject to Section 18.1, the Company shall pay the CIC Severance Benefit to the Executive
in a lump sum on (or within ten (10) days following) the sixtieth (60th) day following the Executive’s Separation from Service;

 

(ii)
the Annual Bonus for the fiscal year of termination, determined based on actual performance for such fiscal year (but in no event
less than the Target Bonus for such fiscal year), as prorated based on the number of days employed during such fiscal year, payable in
accordance with Section 3.2 of this Agreement;

 

(iii)
full accelerated vesting of all unvested equity awards then held by the Executive; and

 

(iv) if
the Executive and any of the Executive’s eligible dependents, in each case, who participate in the Company’s (or any
Affiliate’s) medical, dental, vision and prescription drug plans as of the Termination Date, timely elect coverage under COBRA
for such plans, the Company shall pay directly, or reimburse the Executive for, such COBRA premiums (on a monthly basis) for 18
(eighteen) months; provided that in no event shall the Company’s obligations pursuant to this paragraph extend beyond
the period in which the Company (or any Affiliate) is required to provide COBRA coverage to the Executive and/or any of his eligible
dependents; and provided, further, that the first payment or reimbursement shall be made on the sixtieth (60th) day
following the Executive’s Separation from Service (and which amount shall include payment of any amounts that would otherwise
be due prior thereto).

 

    5

     

    

 

Notwithstanding the foregoing, if such termination without Cause or
resignation for Good Reason occurs prior to the Change in Control, then (A) during the period ending on the Change in Control, the Executive
will be entitled to the severance payments and benefits under Section 5.3(b) and (B) following the Change in Control, the Executive will
be entitled to the severance payments and benefits under this Section 5.3(c), as reduced by the severance payments and benefits received
by the Executive prior to the Change in Control under Section 5.3(b).

 

(d)
If, during the Period of Employment, the Executive’s employment with the Company is terminated due to his death or Disability,
the Executive (or his estate) will be entitled to receive the Annual Bonus for the fiscal year of termination, determined based on actual
performance for such fiscal year, as prorated based on the number of days employed during such fiscal year, payable on the date that annual
bonuses for such fiscal year are paid to the Company’s other senior executives.

 

(e)
Notwithstanding the foregoing provisions of this Section 5.3, if the Executive materially breaches, at any time, either the
Executive’s obligations under Sections 6.1, 6.4, 6.5 or 6.6 of this Agreement or any other material provisions under Section 6
of this Agreement, from and after the date of such breach and not in any way in limitation of any right or remedy otherwise available
to the Company, the Executive shall no longer be entitled to, and the Company shall no longer be obligated to pay, any remaining unpaid
portion of the Severance Benefit under Section 5.3(b) or the CIC Severance Benefit under Section 5.3(c), or any remaining unpaid
portion of the severance payments under Section 5.3(b), 5.3(c) or 5.3(d), as applicable; provided, however, that, if
the Executive provides the Release contemplated by Section 5.4, in no event shall the Executive be entitled to a Severance Benefit
or CIC Severance Benefit payment, as applicable, of less than $5,000, which amount the parties agree is good and adequate consideration,
in and of itself, for the Executive’s Release contemplated by Section 5.4.

 

(f)  The foregoing provisions of this Section 5.3 shall not affect: (i) the Executive’s receipt of benefits otherwise
due terminated employees under group insurance coverage consistent with the terms of the applicable Company welfare benefit plan; (ii) the
Executive’s rights under COBRA to continue participation in medical, dental, hospitalization and life insurance coverage; (iii) the
Executive’s receipt of benefits otherwise due in accordance with the terms of the Company’s 401(k) plan (if any) or any other
retirement or pension plan; and (iv) any right to indemnification the Executive may have from the Company or the Executive’s
right to be covered under any applicable insurance policy, with respect to any liability the Executive incurred or might incur as an employee,
officer or director of the Company or its affiliates, including, without limitation, pursuant to Section 19 hereof.

 

    6

     

    

 

5.4
 Release; Exclusive Remedy.

 

(a)
This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent
to any Company obligation to the Executive pursuant to Section 5.3, the Executive (or his estate or personal representative, as applicable)
shall, upon or promptly following his last day of employment with the Company, provide the Company with a valid, executed written release
agreement in the form attached hereto as Exhibit D (with such changes as may be reasonably required to such form in order
to make the release enforceable and otherwise compliant with applicable law) (the “Release”), and such Release shall
have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the Release
to the Executive not later than seven (7) days following the Termination Date, and the Executive shall be required to execute and
return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make
the Release maximally enforceable under applicable law) after the Company provided the form of Release to the Executive.

 

(b)
The Executive agrees that the payments and benefits contemplated by Section 5.3 shall (if the Release contemplated by Section 5.4(a)
is signed and becomes effective and the severance amounts are paid in accordance with their terms) constitute the exclusive and sole remedy
for any termination of the Executive’s employment and, in such case, the Executive covenants not to assert or pursue any other remedies,
at law or in equity, with respect to any termination of employment; provided, however, that nothing herein shall affect
the Executive’s rights as a stockholder of the Company (or the rights of any stockholder in which the Executive has a direct or
indirect beneficial interest). The Company and the Executive acknowledge and agree that there is no duty of the Executive to mitigate
damages under this Agreement, and there shall be no offset against any amounts due to the Executive under this Agreement on account of
any remuneration attributable to any subsequent employment that the Executive may obtain. All amounts paid to the Executive pursuant to
Section 5.3 shall be paid without regard to whether the Executive has taken or takes actions to mitigate damages. The Executive agrees
to resign, on the Termination Date, as an officer and director of the Company and any Affiliate, and as a fiduciary of any benefit plan
of the Company or any Affiliate, and to promptly execute and provide to the Company any further documentation, as reasonably required
by the Company, to confirm such resignation.

 

5.5
Notice of Termination; Paid Leave. Any termination of the Executive’s employment under this Agreement shall be
communicated by written notice of termination from the terminating party to the other parties. This notice of termination must be delivered
in accordance with Section 17 and must indicate the specific provision(s) of this Agreement relied upon in effecting the termination.
If the Company terminates the Executive’s employment pursuant to clause (b) of Section 5.1, or if the Executive provides
notice of termination pursuant to Section 5.2, the Company may place the Executive on paid administrative leave during the applicable
notice period and such leave shall not constitute grounds for a resignation by the Executive for Good Reason.

 

5.6 Section 280G. In the
event that the payments and benefits provided under this Agreement and benefits provided to, or for the benefit of, the Executive
under any other plan or agreement (such payments or benefits are collectively referred to as the “Benefits”)
would be subject to the excise tax (the “Excise Tax”) imposed under Section 4999 of the Internal Revenue
Code of 1986, as amended (the “Code”), in connection with any transaction, then the Company shall cause to be
determined, before any amounts of the Benefits are paid to the Executive, which of the following two alternative forms of payment
would result in the Executive’s receipt, on an after-tax basis, of the greater amount of the Benefits notwithstanding that all
or some portion of the Benefits may be subject to the Excise Tax: (a) payment in full of the entire amount of the Benefits (a
“Full Payment”), or (b) payment of only a part of the Benefits so that the Executive receives the largest payment
possible without the imposition of the Excise Tax (a “Reduced Payment”), and the Executive shall be entitled to
payment of whichever amount shall result in a greater after-tax amount for the Executive. For purposes of determining whether to
make a Full Payment or a Reduced Payment, the Company shall cause to be taken into account all applicable federal, state and local
income and employment taxes and the Excise Tax (all computed at the highest applicable marginal rate, net of the maximum reduction
in federal income taxes which could be obtained from a deduction of such state and local taxes). If a Reduced Payment is made, the
reduction in payments and/or benefits shall occur in the following order: (1) first, reduction of cash payments, in reverse order of
scheduled payment date (or if necessary, to zero), (2) then, reduction of non-cash and non-equity benefits provided to the
Executive, on a pro rata basis (or if necessary, to zero) and (3) then, cancellation of the acceleration of vesting of equity award
compensation in the reverse order of the date of grant of the Executive’s equity awards.

 

    7

     

    

 

A determination as to whether any Excise Tax would
be imposed on the Benefits and, if so, whether a Full Payment or a Reduced Payment would result in a greater after-tax amount for the
Executive, shall be made by the Company’s independent public accountants or another certified public accounting firm or executive
compensation consulting firm of national reputation designated by the Company (the “Firm”) at the Company’s expense.
The Firm shall provide its determination, together with detailed supporting calculations and documentation to the Company and the Executive
within ten (10) business days of the date of termination of the Executive’s employment, if applicable, or such other time as reasonably
requested by the Company or the Executive.

 

6.
Protective Covenants.

 

6.1 Confidential Information.
The Executive agrees that he will not disclose or use at any time, either during the Executive’s employment with the Company
or thereafter, any Confidential Information (as defined below) of which the Executive is or becomes aware, whether or not such
information is developed by the Executive, except to the extent that such disclosure or use is directly related to the good faith
performance of the Executive’s duties for the Company. The Executive agrees that he will take all reasonable and appropriate
steps to safeguard Confidential Information in his possession and to protect it against disclosure, misuse, espionage, loss and
theft. Notwithstanding the foregoing, the Executive may truthfully respond to a lawful and valid subpoena, court order or other
legal process, but the Executive agrees, to the extent he is permitted under applicable law and the relevant request for disclosure:
(i) to first give the Company the earliest possible notice thereof, (ii) to, as much in advance of the return date as
possible, make available to the Company and its counsel the documents and other reasonable information sought, and (iii) to
assist the Company and such counsel (at the Company’s expense) in resisting or otherwise responding to such process, subject
to the Executive’s other commitments. As used in this Agreement, the term “Confidential Information” means
information that is not generally known to the public and that is used, developed or obtained by the Company or any Subsidiary in
connection with its business, including, but not limited to, information, observations and data obtained by the Executive while
employed by the Company or any predecessors thereof (including those obtained prior to the date of this Agreement) concerning
(i) the business or affairs of the Company or any Subsidiary (including each of their respective predecessors),
(ii) products or services, (iii) fees, costs and pricing structures, (iv) designs, (v) analyses,
(vi) drawings, photographs and reports, (vii) computer software, including operating systems, applications and program
listings, (viii) flow charts, manuals and documentation, (ix) data bases, (x) accounting and business methods, (xi)
inventions, devices, new developments, methods and processes, whether patentable or unpatentable and whether or not reduced to
practice, (xii) customers and clients and customer or client lists, (xiii) other copyrightable works, (xiv) all production methods,
processes, technology and trade secrets, and (xv) all similar and related information in whatever form. Confidential Information
will not be deemed to have been published merely because individual portions of the information have been separately published, but
only if all material features comprising such information have been published in combination. The Executive further understands that
Confidential Information does not include any of the foregoing or other items that have become publicly known or made generally
available through no wrongful act (or failure to act) of the Executive or, to the knowledge of the Executive, of others who were
under confidentiality obligations as to the item or items involved or improvements or new versions thereof or is available, or
becomes available, to the Executive on a non-confidential basis, but only if the source of the information is not, to the
Executive’s knowledge, prohibited from transmitting the information to the Executive by a contractual, legal, fiduciary or
other obligation. The Executive acknowledges that, as between the Executive and the Company, all Confidential Information shall be
the sole and exclusive property of the Company and its assigns. Further, this Section 6.1 shall not prevent the Executive from
disclosing Confidential Information in connection with any litigation, arbitration or mediation involving the Executive’s
employment or termination thereof, including, but not limited to, enforcing this Agreement, provided that such disclosure is
reasonably necessary for the Executive to assert any claim or defense in such proceeding. Nothing in this Section 6.1 or any other
provision of this Agreement shall prohibit the Executive from: reporting possible violations of law or regulation to any
governmental agency or entity including but not limited to Department of Justice, the Securities and Exchange Commission, the Equal
Employment Opportunity Commission, the Occupational Safety and Health Commission, and any Inspector General, or making other
disclosures that are protected under the whistleblower provisions of federal, state or local law or regulation. The Executive does
not need the prior authorization of the Company to make any such reports or disclosures and the Executive is not required to notify
the Company that Executive has made such reports or disclosures.

 

    8

     

    

 

6.2
Inventions.

 

(a) Inventions Retained and Licensed.
The Executive has attached hereto, as Exhibit E, a list describing all inventions, original works of authorship,
developments, improvements and trade secrets that were made, conceived or first reduced to practice by the Executive prior to his
employment with the Company (collectively referred to as “Prior Inventions”), which belong to the Executive or a
third party (such as a former employer), which relate to the Company’s (or any Subsidiary’s) actual or proposed
business, products or research and development, and which are not assigned to the Company hereunder; or, if no such list is
attached, the Executive represents that there are no such Prior Inventions. If disclosure of any such Prior Invention would cause
the Executive to violate any prior confidentiality agreement, the Executive understands that he is not to list such Prior Inventions
in Exhibit E but is only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it
belongs and the fact that full disclosure as to such inventions has not been made for that reason. A space is provided on Exhibit E
for such purpose. If, in the course of the Executive’s employment with the Company the Executive incorporates into a Company
or Subsidiary product, material, process, machine or service, a Prior Invention owned by the Executive or in which he has an
interest, the Executive hereby grants to the Company a nonexclusive, royalty-free, fully paid-up, irrevocable, perpetual, worldwide
license (with rights to sublicense through multiple tiers of sublicensees) to make, have made, modify, make derivative works of,
use, disclose, reproduce, distribute, offer to sell, sell, have sold, import and otherwise exploit such Prior Invention as part of
or in connection with such product, material, process, machine or service, and to practice any method related thereto.
Notwithstanding the foregoing, the Executive agrees that he will not incorporate, or permit to be incorporated, Prior Inventions in
any Company or Subsidiary product, material, process, machine or service without the Company’s prior written consent.

 

(b) Assignment of Inventions. The
Executive agrees that he will promptly make full written disclosure to the Company, will hold in trust for the sole right and
benefit of the Company and hereby assigns to the Company, or its designee, all the Executive’s right, title and interest in
and to any and all inventions, original works of authorship, developments, concepts, improvements, designs, mask works, prototypes,
models, materials, discoveries, ideas, processes, formulas, data, know-how, techniques, trademarks or trade secrets, whether or not
patentable or registrable under copyright or similar laws, which the Executive may solely or jointly conceive or develop or reduce
to practice, or cause to be conceived or developed or reduced to practice, during the entire period of time the Executive is in the
employ of the Company, whether before or after the execution of this Agreement, except as provided in Section 6.2(f) below
(collectively referred to as “Inventions”). Notwithstanding anything to the contrary contained herein, for
purposes of this Agreement, Inventions shall not include inventions created by the Executive during non-business hours that are not
related in any respect to the business (or any portion thereof) of the Company. The Executive further acknowledges that all original
works of authorship that are made by the Executive (solely or jointly with others) within the scope of and during the period of his
employment with the Company (whether before or after the execution of this Agreement) and which are protectable by copyright are
“works made for hire,” as that term is defined in the United States Copyright Act. Additionally, any assignment of
copyright hereunder includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as
or referred to as “moral rights” (collectively “Moral Rights”). To the extent such Moral Rights
cannot be assigned under applicable law and to the extent the following is allowed by the laws in the various countries where Moral
Rights exist, the Executive hereby waives such Moral Rights and consents to any action of the Company that would violate such Moral
Rights in the absence of such consent. The Executive will confirm any such waivers and consents from time to time as requested by
the Company. The Executive understands and agrees that the decision whether or not to commercialize or market any invention
developed by the Executive solely or jointly with others is within the Company’s sole discretion and for the Company’s
sole benefit and that no royalty will be due to the Executive as a result of the Company’s efforts to commercialize or market
any such invention.

 

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(c)
Inventions Assigned to the United States. The Executive agrees to assign to the United States government all the Executive’s
right, title and interest in and to any and all Inventions whenever such full title is required to be in the United States by a contract
between the Company, on the one hand, and the United States or any of its agencies, on the other hand.

 

(d)
Maintenance of Records. The Executive agrees to keep and maintain adequate and current written records of all Inventions
made by the Executive (solely or jointly with others) during the term of his employment with the Company. The records will be in the form
of notes, notebooks, sketches, drawings or any other format that may be reasonably specified by the Company. The records will be available
to, and remain the sole property of the Company at all times.

 

(e)
Registrations and Enforcement. The Executive agrees to reasonably assist the Company, or its designee, at the Company’s
expense, in every proper way to secure, maintain, defend and enforce the Company’s rights in the Inventions and any copyrights,
patents, mask work rights or other intellectual property rights relating thereto in any and all countries, including the disclosure to
the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments
and all other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and
convey to the Company or any successors, assigns and nominees the sole and exclusive rights, title and interest in and to such Inventions,
and any copyrights, patents, mask work rights or other intellectual property rights relating thereto. The Executive further agrees that
his obligation to execute or cause to be executed, when it is in his power to do so, any such instrument or papers shall continue after
the termination of this Agreement, but the Company shall compensate the Executive at a reasonable rate after his termination for the time
actually spent by him at the Company’s request on such assistance. If the Company is unable because of the Executive’s mental
or physical incapacity or for any other reason to secure his signature in connection with any of the foregoing actions (including as necessary
to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original
works of authorship assigned to the Company as above), then the Executive hereby irrevocably designates and appoints the Company and its
duly authorized officers and agents as his agent and attorney in fact, to act for and in his behalf and stead (including to execute and
file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright
registrations thereon) with the same legal force and effect as if executed by the Executive. The Executive hereby waives and quitclaims
to the Company any and all claims, of any nature whatsoever, which the Executive now or may hereafter have for infringement of any Inventions
assigned hereunder to the Company.

 

(f) Obligation
to Keep Company Informed. During the Period of Employment and for six (6) months after the Executive’s Termination
Date, the Executive will promptly disclose to the Company fully and in writing all Inventions authored, conceived or reduced to
practice by the Executive, either alone or jointly with others. In addition, the Executive will promptly disclose to the Company all
patent applications filed by him or on his behalf within a year after the Termination Date.

 

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6.3
Cooperation. For five (5) years following the Executive’s last day of employment by the Company, the Executive
shall reasonably cooperate with the Company and the Subsidiaries in connection with: (a) any internal or governmental investigation
or administrative, regulatory, arbitral or judicial proceeding involving any of them with respect to matters relating to the Executive’s
employment with or service as a member of the Board or the board of directors of any Subsidiary; or (b) any audit of the financial
statements of the Company or any Subsidiary with respect to the period of time when the Executive was employed by the Company. The Company
shall reimburse the Executive for reasonable travel expenses incurred in connection with providing the services under this Section 6.3,
including lodging and meals, upon the Executive’s submission of receipts.

 

6.4
Restriction on Competition. The Executive agrees that if the Executive were to become employed by, or substantially
involved in, the business of a competitor of the Company or any of the Subsidiaries during the Restricted Period (defined below), it would
be very difficult for the Executive not to rely on or use the Company’s or the Subsidiaries’ trade secrets and confidential
information. Thus, to avoid the inevitable disclosure of such trade secrets and confidential information, and to protect such trade secrets
and confidential information and the Company’s and the Subsidiaries’ relationships and goodwill with customers, during the
Restricted Period, except in the good faith performance of his duties hereunder, the Executive shall not directly or indirectly through
any other Person engage in, enter the employ of, render any services to, have any ownership interest in, nor participate in the financing,
operation, management or control of, any Competing Business. For purposes of this Agreement, “Restricted Period” means
the Period of Employment and two (2) years after the Termination Date. For purposes of this Agreement, the phrase “directly
or indirectly through any other Person engage in” shall include, without limitation, any direct or indirect ownership or profit
participation interest in such enterprise, whether as an owner, stockholder, member, partner, joint venturer or otherwise, and shall include
any direct or indirect participation in such enterprise as an employee, consultant, director, officer, licensor of technology or otherwise.
For purposes of this Agreement, “Competing Business” means any Person anywhere in the United States and any other country
in which the Company or any of the Subsidiaries operates (or plans to commence operations) that at any time during the Period of Employment
is engaged in (or has plans to engage in), or at any time during the six (6) month period following the Termination Date is engaged
in (or has plans to engage in) a business related to bowling or the operation of bowling centers. Nothing herein shall prohibit the Executive
from (i) investing in mutual funds and stocks, bonds, or other securities in any business if such stocks, bonds, or other securities
are listed on any securities exchange or are publicly traded in an over the counter market, and such investment does not exceed, in the
case of any capital stock of any one issuer, two percent (2%) of the issued and outstanding capital stock or in the case of bonds or other
securities, two percent (2%) of the aggregate principal amount thereof issued and outstanding, or (ii) being employed in a senior
management role of a conglomerate (or a portion of a conglomerate) that engages in a Competing Business so long as the Executive does
not perform services to or otherwise actively participate in the business unit engaged in the Competing Business.

 

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6.5
 Soliciting Customers. During the Restricted Period, the Executive shall not directly or indirectly through any other
Person influence or attempt to influence customers, vendors, suppliers, licensors, lessors, joint venturers, associates, consultants,
agents, or partners of the Company or any of the Subsidiaries to divert their business away from the Company or such Subsidiary to a Competing
Business, and the Executive shall not otherwise interfere with, disrupt or attempt to disrupt the business relationships, contractual
or otherwise, between the Company or any of the Subsidiaries, on the one hand, and any of its or their customers, suppliers, vendors,
lessors, licensors, joint venturers, associates, officers, employees, consultants, managers, partners, members or investors, on the other
hand in an effort to benefit a Competing Business. The foregoing shall not be violated by general advertising of a customary nature not
targeted at such persons or entities, nor by serving as a reasonable and customary reference upon request.

 

6.6
Soliciting Employees and Consultants. During the Restricted Period, except in the good faith performance of his duties
hereunder, the Executive shall not directly or indirectly through any other Person (a) induce or attempt to induce any officer, other
key employee or independent contractor of the Company or any of the Subsidiaries to leave the employ or service, as applicable, of the
Company or such Subsidiary, or in any way interfere with the relationship between the Company or any Subsidiary, on the one hand, and
any officer, other key employee or independent contractor thereof, on the other hand, or (b) hire any person who was an officer or
other key employee of the Company or any of the Subsidiaries until six (6) months after such individual’s employment relationship
with the Company or such Subsidiary has been terminated. For purposes of this Section 6.6, any employee of the Company or any of
the Subsidiaries whose compensation for the year in which such event occurs is or is reasonably expected to be greater than $80,000 shall
be presumed to be a “key employee.” The foregoing shall not be violated by general advertising of a customary nature not targeted
at such persons or entities, nor by serving as a reasonable and customary reference upon request.

 

6.7
Understanding of Covenants.

 

(a)
The Executive acknowledges that, in the course of the Executive’s employment with the Company and/or its Subsidiaries and
their predecessors, the Executive has become familiar, or will become familiar, with the Company’s and the Subsidiaries’ and
their predecessors’ trade secrets and with other confidential and proprietary information concerning the Company, the Subsidiaries
and their respective predecessors and that the Executive’s services have been and will be of special, unique and extraordinary value
to the Company and the Subsidiaries. The Executive agrees that the foregoing covenants set forth in Sections 6.1 through 6.6 (together,
the “Restrictive Covenants”) are reasonable and necessary to protect the Company’s and the Subsidiaries’
trade secrets and other confidential and proprietary information, good will, stable workforce, and customer relations.

 

(b) Without limiting the generality of the
Executive’s agreement in the preceding paragraph, the Executive (i) represents that the Executive is familiar with and
has carefully considered the Restrictive Covenants, (ii) represents that the Executive is fully aware of the Executive’s
obligations hereunder, (iii) agrees to the reasonableness of the length of time, scope and geographic coverage, as applicable,
of the Restrictive Covenants, and (iv) agrees that the Restrictive Covenants shall continue in effect for the applicable
periods set forth above in this Section 6 regardless of whether the Executive is then entitled to receive severance pay or
benefits from the Company. The Executive understands that the Restrictive Covenants may limit the Executive’s ability to earn
a livelihood in a business similar to the business of the Company, and the Subsidiaries, but the Executive nevertheless believes
that the Executive has received and will receive sufficient consideration and other benefits as an employee of the Company to
justify such restrictions and that such restrictions would prevent the Executive from otherwise earning a living. The Executive
acknowledges and agrees that the Restrictive Covenants do not confer a benefit upon the Company and the Subsidiaries
disproportionate to the detriment of the Executive; are not greater than is required to protect the legitimate and valid business
interests and goodwill of the Company and the Subsidiaries; are reasonably necessary to prevent unfair competition; and are not
injurious to the public.

 

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6.8
Enforcement and Venue for Enforcement. The Executive agrees that the Executive’s services are unique and that
the Executive has access to the Company’s and the Subsidiaries’ trade secrets and other confidential and proprietary information.
Accordingly, the Executive agrees that a breach by the Executive of any of the covenants in this Section 6 would cause immediate
and irreparable harm to the Company that would be difficult or impossible to measure, and that damages to the Company for any such injury
would therefore be an inadequate remedy for any such breach. Therefore, the Executive agrees that in the event of any breach or threatened
breach of any provision of this Section 6, the Company shall be entitled, in addition to and without limitation upon all other remedies
that either of them may have under this Agreement, at law or otherwise, to obtain specific performance, injunctive relief and/or other
appropriate relief (without posting any bond or deposit) in order to enforce or prevent any violations of the provisions of this Section 6.
The Executive further agrees that the applicable period of time any Restrictive Covenant is in effect following the Termination Date,
as determined pursuant to the foregoing provisions of this Section 6, shall be extended by the same amount of time that the Executive
is in breach of any Restrictive Covenant. The Executive further understands and agrees that any court action brought pursuant to this
Section 6.8 will be brought in federal or state court of New York, and hereby expressly consents to the jurisdiction of such
courts for that purpose.

 

6.9
Return of Company Materials. The Executive agrees that, at the time of leaving the employ of the Company, the Executive
will deliver to the Company (and will not keep in the Executive’s possession, recreate or deliver to anyone else) any and all devices,
records, data, notes, notebooks, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials,
equipment, prototypes, samples, models and other documents or property, or reproductions of any aforementioned items developed by the
Executive pursuant to his employment with the Company or otherwise belonging to the Company, any Subsidiary, or their respective successors
or assigns; provided that the Executive may retain his telephone directories, compensation related documents and other personal
property.

 

7.
Withholding Taxes Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to
be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such federal, state and
local income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation.

 

8.
 Successors and Assigns This Agreement is personal to the Executive and without the prior written consent of the Company
shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure
to the benefit of and be enforceable by the Executive’s legal representatives. This Agreement shall inure to the benefit
of and be binding upon the Company, its successors and, other than as set forth below, shall not be assignable by the Company without
the prior written consent of the Executive. The obligations under this Agreement shall be assignable by the Company to, and only to, any
successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company; provided that the Company shall require such successor to expressly assume and agree to perform its obligations
under this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such assignment
had taken place; if such successor fails to assume and agree to perform this Agreement in such manner and to such extent, such failure
shall be grounds for the Executive to terminate his employment hereunder for Good Reason. As used in this Agreement, “Company”
shall mean the Company as hereinbefore defined and any successor thereto which assumes and agrees to perform this Agreement by operation
of law or otherwise.

 

9.
Number and Gender; Examples Where the context requires, the singular shall include the plural, the plural shall include
the singular, and any gender shall include all other genders. Where specific language is used to clarify by example a general statement
contained herein, such specific language shall not be deemed to modify, limit or restrict in any manner the construction of the general
statement to which it relates.

 

10.
Section Headings The section headings of, and titles of paragraphs and subparagraphs contained in, this Agreement
are for the purpose of convenience only, and they neither form a part of this Agreement nor are they to be used in the construction or
interpretation thereof.

 

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11.
Governing Law THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF NEW YORK OR ANY OTHER JURISDICTION)
THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING,
THE INTERNAL LAW OF THE STATE OF NEW YORK WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION’S
CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY.

 

12. Severability It is the desire
and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible under the laws
and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of this
Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable under any present or
future law, and if the rights and obligations of any party under this Agreement will not be materially and adversely affected
thereby, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this
Agreement or affecting the validity or enforceability of such provision in any other jurisdiction, and to this end the provisions of
this Agreement are declared to be severable; furthermore, in lieu of such invalid or unenforceable provision there will be added
automatically as a part of this Agreement, a legal, valid and enforceable provision as similar in terms to such invalid or
unenforceable provision as may be possible. Notwithstanding the foregoing, if such provision could be more narrowly drawn (as to
geographic scope, period of duration or otherwise) so as not to be invalid, prohibited or unenforceable in such jurisdiction, it
shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement or affecting
the validity or enforceability of such provision in any other jurisdiction.

 

13.
Entire Agreement On and following the Effective Date, (i) this Agreement, including its attachments and exhibits
(together, the “Integrated Document”), embodies the entire agreement of the parties hereto respecting the matters within
its scope, (ii) the Integrated Document supersedes all prior and contemporaneous agreements of the parties hereto that directly or
indirectly bears upon the subject matter hereof, including, without limitation, the Prior Employment Agreement, (iii) any prior negotiations,
correspondence, agreements, proposals or understandings relating to the subject matter hereof shall be deemed to have been merged into
the Integrated Document, and to the extent inconsistent herewith, such negotiations, correspondence, agreements, proposals, or understandings
shall be deemed to be of no force or effect, and (iv) there are no representations, warranties, or agreements, whether express or
implied, or oral or written, with respect to the subject matter hereof, except as expressly set forth herein or in the Integrated Document.
Notwithstanding any other provision herein, the Integrated Documents shall have no force or effect (except for this sentence) unless and
until the Effective Date (i.e., the time at which the transactions contemplated by the BCA are consummated).

 

14.
Modifications This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive
written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto. The Executive may
not consent to any such amendment, modification or change on behalf of the Company.

 

15.
Waiver Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under
this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude
any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power
or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other
occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 

16.
Arbitration; Waiver of Jury Trial.

 

16.1 Arbitration. The Executive
and the Company hereby agree that any and all controversies, claims or disputes with anyone arising out of, relating to or resulting
in any manner from the Executive’s employment with the Company or the termination of the Executive’s employment with the
Company, including any breach of this Agreement, (including any dispute with any employee, officer, shareholder, affiliate or
benefit plan of the Company in their capacity as such or otherwise) shall be subject to binding arbitration under the arbitration
rules set forth in applicable state or federal law (the “Rules”). Disputes which the parties agree to arbitrate,
and thereby agree to waive any right to a trial by jury, include any statutory claims under state or federal law, including, but not
limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age
Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, claims of harassment, discrimination or wrongful
termination and any statutory claims.

 

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16.2
Procedure. The parties hereby agree that any arbitration will be administered by a sole arbitrator (the “Arbitrator”)
selected from Judicial Arbitration & Mediation Services, Inc., New York, New York, or its successor (“JAMS”),
or if JAMS is no longer able to supply the arbitrator, such arbitrator shall be selected from the American Arbitration Association, and
such selection shall be in a manner consistent with the JAMS rules applicable to employment disputes. Any arbitration pursuant to this
Section 16 shall take place in New York, New York. The parties agree that the Arbitrator shall have the power to decide
any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss
and demurrers, prior to any arbitration hearing. The parties also agree that the Arbitrator shall have the power to award any remedies,
including attorneys’ fees and costs, available under applicable law. The Company agrees that it will pay for any administrative
or hearing fees unique to arbitration, including any filing fees or arbitrator fees associated with any arbitration brought under this
Section 16. The Arbitrator shall administer and conduct any arbitration in a manner consistent with the Rules and that to the extent
that the JAMS rules applicable to employment disputes conflict with the Rules, the Rules shall take precedence. The decision of the Arbitrator
shall be in writing and shall set forth the bases for the Arbitrator’s decision.

 

16.3
Remedy. Except as provided by the Rules and this Agreement, arbitration shall be the sole, exclusive and final remedy
for any dispute between the Executive and the Company. Accordingly, except as provided for by the Rules and this Agreement, the Executive
and the Company will not be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding, the Arbitrator
will not have the authority to disregard or refuse to enforce any lawful Company policy, and the Arbitrator shall not order or require
the Company to adopt a policy not otherwise required by law which the Company has not adopted. The decision of the Arbitrator on any issue,
dispute, claim or controversy submitted for arbitration, shall be final and binding upon the parties and that judgment may be entered
on the award of the Arbitrator in any court having proper jurisdiction.

 

16.4
Availability of Injunctive Relief. In addition to the right under the Rules to petition the court for provisional relief,
the parties agree that any party may also petition the court for injunctive relief in aid of arbitration where either party alleges or
claims a violation of this Agreement or any other agreement between the Executive, on the one hand, and the Company, on the other hand,
regarding trade secrets or confidential information. The Executive understands that any breach or threatened breach of such an agreement
will cause irreparable injury and that money damages will not provide an adequate remedy therefor, and both parties hereby consent to
the issuance of an injunction. In the event either party seeks injunctive relief, the prevailing party shall be entitled to recover reasonable
costs and attorneys’ fees to the extent permitted by applicable law.

 

16.5 Administrative Relief. The
Executive understands that this Agreement does not prohibit the Executive from pursuing an administrative claim with a local, state
or federal administrative body such as the Equal Employment Opportunity Commission or the state Workers’ Compensation board.
This Agreement does, however, preclude the Executive from pursuing court action regarding any such claim.

 

16.6
Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

17.
Notices Any notice provided for in this Agreement must be in writing and must be either personally delivered, mailed
by first class mail (postage prepaid and return receipt requested) or sent by reputable overnight courier service (charges prepaid) to
the recipient at the address below indicated or at such other address or to the attention of such other person as the recipient party
has specified by prior written notice to the sending party. Notices will be deemed to have been given hereunder and received when
delivered personally, five days after deposit in the U.S. mail and one day after deposit with a reputable overnight courier
service.

 

if to the Company:

 

Bowlero Corp.

Attention: Chief Legal Officer

7313 Bell Creek Road

Mechanicsville, VA 23111

 

if to the Executive, to the address most
recently on file in the Company’s payroll records, with a copy to:

 

Proskauer Rose LLP

11 Times Square

New York, NY 10036

Attn: Ira Bogner, Esq.

 

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18.
Section 409A.

 

18.1 If the Executive is a
“specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of the
Executive’s Separation from Service, the Executive shall not be entitled to any payment or benefit pursuant to
Section 5.3 until the earlier of (i) the date which is six (6) months after the Executive’s Separation from
Service for any reason other than death, or (ii) the date of the Executive’s death. The provisions of this
Section 18.1 shall only apply if, and to the extent, required to avoid the imputation of any tax, penalty or interest pursuant
to Section 409A of the Code. Any amounts otherwise payable to the Executive upon or in the six (6) month period following
the Executive’s Separation from Service that are not so paid by reason of this Section 18.1 shall be paid (without
interest) as soon as practicable (and in all events within thirty (30) days) after the date that is six (6) months after the
Executive’s Separation from Service (or, if earlier, as soon as practicable, and in all events within thirty (30) days, after
the date of the Executive’s death).

 

18.2 Except to the extent any
reimbursement or in-kind benefit provided pursuant to this Agreement does not constitute a “deferral of compensation”
within the meaning of Section 409A of the Code, any such reimbursement or in-kind benefit due to the Executive hereunder (A)
shall be paid to the Executive on or before the last day of the Executive’s taxable year following the taxable year in which
the related expense was incurred, and (B) shall not be subject to liquidation or exchange for another benefit and the amount of such
reimbursement or in-kind benefit that the Executive receives in one taxable year shall not affect the amount of such benefits and
reimbursements that the Executive receives in any other taxable year. The Executive agrees to promptly submit and document any
reimbursable expenses in accordance with the Company’s expense reimbursement policies to facilitate the timely reimbursement
of such expenses.

 

18.3 It is intended that any amounts
payable under this Agreement, and the Company’s and the Executive’s exercise of authority or discretion hereunder, shall
comply with and avoid the imputation of any tax, penalty or interest under Section 409A of the Code. This Agreement shall be
construed and interpreted consistent with that intent.

 

18.4 For purposes of Section 409A
of the Code, the Executive’s right to receive any installment payment under this Agreement shall be treated as a right to
receive a series of separate and distinct payments.

 

18.5 Notwithstanding anything to the
contrary herein, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of amounts or benefits upon or following a termination of employment unless such termination is also a
Separation from Service and, for purposes of any such provision of this Agreement, references to a “resignation,”
“termination,” “termination of employment” or like terms shall mean Separation from Service.

 

19.
Indemnification.

 

19.1 The Company agrees that
(i) if the Executive is made a party, or is threatened to be made a party, to any threatened or actual action, suit or
proceeding whether civil, criminal, administrative, investigative, appellate or other (a “Proceeding”) by reason
of the fact that he is or was a director, officer or employee of the Company or is or was serving at the request of the Company as a
director, officer, member, employee, agent, manager, consultant or representative of another person or (ii) if any claim,
demand, request, investigation, controversy, threat, discovery request or request for testimony or information (a
“Claim”) is made, or threatened to be made, that arises out of or relates to the Executive’s service in any
of the foregoing capacities, whether arising before or after the Effective Date, then the Executive shall promptly be indemnified
and held harmless by the Company to the fullest extent legally permitted and authorized by the Company’s charter, bylaws or
Board resolutions against any and all costs, expenses, liabilities and losses (including, without limitation, attorney’s fees,
judgments, interest, expenses of investigating, defending or obtaining indemnity with respect to any Proceeding or Claim, penalties,
fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement) incurred or suffered by the Executive in
connection therewith, and such indemnification shall continue as to the Executive even if he has ceased to be a director, officer or
employee of the Company or a director, officer, member, employee, agent, manager, consultant or representative of such other person
and shall inure to the benefit of the Executive’s heirs, executors and administrators. To the extent permitted by law, the
Company shall advance to the Executive all costs and expenses incurred by him in connection with any such Proceeding or Claim within
thirty (30) days after receiving written notice requesting such an advance. Such notice shall include an undertaking by the
Executive to repay the amount advanced if he is ultimately determined not to be entitled to indemnification against such costs and
expenses.

 

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19.2 Neither the failure of the
Company (including its Board, independent legal counsel or stockholders) to have made a determination in connection with any request
for indemnification or advancement under Section 19.1 that the Executive has satisfied any applicable standard of conduct, nor
a determination by the Company (including its Board, independent legal counsel or stockholders) that the Executive has not met any
applicable standard of conduct, shall create a presumption that the Executive has not met an applicable standard of conduct.

 

19.3 During the Period of Employment
and for a period of six (6) years thereafter, the Company shall keep in place a directors and officers’ liability
insurance policy (or policies) providing comprehensive coverage to the Executive if and to the extent that the Company provides such
coverage for any other present or former senior executive or director of the Company.

 

19.4 The provisions of this
Section 19 shall apply to the estate, executor, administrator, heirs, legatees or devisees of the Executive and shall survive
any termination of this Agreement.

 

20.
Counterparts This Agreement may be executed in any number of counterparts, each of which shall be deemed an original
as against any party whose signature appears thereon, and all of which together shall constitute one and the same instrument. This Agreement
shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties
reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

21.
Legal Counsel; Mutual Drafting Each party recognizes that this is a legally binding contract and acknowledges and agrees
that such party has had the opportunity to consult with legal counsel of such party’s choice. Each party has cooperated in the drafting,
negotiation and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed
against either party on the basis of that party being the drafter of such language. The Executive agrees and acknowledges that the Executive
has read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering
into this Agreement and has had ample opportunity to do so.

 

22.
Further Assurances Each party shall execute and cause to be delivered to each other party hereto such documents and
other instruments and take such further actions as may be reasonably necessary to carry out the provisions hereof.

 

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

 

	 	“COMPANY”
	 	 
	 	Bowlero Corp., a Delaware corporation
	 	 
	 	By:	/s/ Jason F. Cohen
	 	Name: 	Jason F. Cohen
	 	Title:	 Chief Legal Officer           
	 	 
	 	“EXECUTIVE”
	 	 
	 	/s/ Brett I. Parker 
	 	Brett I. Parker      

 

Signature Page to Employment Agreement

 

     

     

    

 

EXHIBIT A

 

Stock Option Award Agreement (Reallocated
Option)

 

[See attached]

 

 

 

 

 

    A-1

     

    

 

BOWLERO
CORP.

2021
Omnibus Incentive Plan

Notice
of OPTION Grant

(Reallocated option)

 

	Participant:	Brett I. Parker
	 	 
	# of Shares Subject to Option:	183,128 shares of Class A Common Stock of the Company, par value $0.00001 per share (the “Shares”).
	 	 
	Date of Grant:	December 15, 2021
	 	 
	Exercise Price Per Share:	$10.00
	 	 
	Vesting Schedule:	The Option will be fully vested and exercisable as of the Date of Grant. 
	 	 
	Type of Option:	Nonqualified Stock Option 

 

By signing your name below, you accept the Option
and acknowledge and agree that the Option is granted under and governed by the terms and conditions of the Bowlero Corp. 2021 Omnibus
Incentive Plan and the Option Award Agreement set forth on Annex I, each of which are hereby made a part of this document. The
Option is not intended to qualify as an Incentive Stock Option.

 

	Participant	 	Bowlero Corp.
	 	 	 
	 	 	By:	 
	 	 	Title: 	            

 

    A-2

     

    

 

BOWLERO CORP.

2021
Omnibus Incentive Plan

OPTION AWARD AGREEMENT

 

Pursuant to the Notice of
Option Grant (“Grant Notice”) and this Option Award Agreement (this “Award Agreement”), Bowlero
Corp. (together with its Subsidiaries, whether existing or thereafter acquired or formed, and any and all successor entities, the “Company”)
has granted the Participant an Option (the “Option”) under the Bowlero Corp. 2021 Omnibus Incentive Plan (the “Plan”)
with respect to the number of Shares indicated in the Grant Notice. The Option represents the right to purchase the number of Shares indicated
in the Grant Notice, on the terms and conditions set forth in this Award Agreement and the Plan. The Option is granted to the Participant
effective as of the Date of Grant. Capitalized terms not defined in this Award Agreement or in the Grant Notice but defined in the Plan
will have the same definitions as in the Plan.

 

 1. Vesting; Exercise.

 

(a)
Vesting. The Option will be fully vested and exercisable as of the Date of Grant.

 

(b)
Method of Exercise and Form of Payment.  No Shares will be delivered pursuant to any exercise of the Option
until the Participant has paid in full to the Company the exercise price and an amount equal to any U.S. federal, state, local and non-U.S.
income and employment taxes required to be withheld. The Option may be exercised by delivery of written or electronic notice of exercise
to the Company or its designee (including a third-party administrator) in accordance with the terms hereof. The exercise price and all
applicable required withholding taxes will be payable (i) in cash, check, cash equivalent and/or in shares of Common Stock valued at the
Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by the Committee, by means of attestation
of ownership of a sufficient number of shares in lieu of actual delivery of such shares to the Company); provided that such shares
are not subject to any pledge or other security interest, (ii) if there is a public market for the Shares at such time, subject to the
Company’s Securities Trading Policy and applicable law, by means of a broker-assisted “cashless exercise” pursuant to
which the Company is delivered a copy of irrevocable instructions to a stockbroker to sell the Shares otherwise deliverable upon the exercise
of the Option and to deliver promptly to the Company an amount equal to the exercise price and all applicable required withholding taxes,
or (iii) by such other method as the Committee may permit, including without limitation: (A) in other property having a Fair Market Value
equal to the exercise price and all applicable required withholding taxes or (B) by means of a “net exercise” procedure effected
by withholding the minimum number of Shares otherwise deliverable in respect of an Option that are needed to pay for the exercise price
and all applicable required withholding taxes. Any fractional Shares resulting from the application of this Section 1(b) will be settled
in cash.

 

 2. Expiration.

 

(a) Option
Period. In no event will all or any portion of the Option be exercisable after the tenth anniversary of the Date of Grant (such
ten-year period, the “Option Period”); provided, that if the Option Period would expire at a time when
trading in the Shares is prohibited by the Company’s Securities Trading Policy (or a Company-imposed “blackout
period”), the Option Period will be automatically extended until the 30th day following the expiration of such
prohibition (so long as such extension will not violate Section 409A of the Code).

 

    A-3

     

    

 

(b)
Post-Termination Exercise.

 

(i)
If, prior to the end of the Option Period, the Participant’s employment is terminated by the Company without Cause or by
the Participant for any reason, then the Option will expire on the earlier of the last day of the Option Period and the date that is 90
days after the date of such termination; provided, however, that if the Participant is subsequently rehired, reappointed
or reengaged by the Company or any Affiliate within 90 days following such termination and prior to the expiration of the Option, the
Participant will not be considered to have undergone a termination of employment.

 

(ii)
If (A) the Participant’s employment with the Company is terminated prior to the end of the Option Period on account of the
Participant’s Disability, (B) the Participant dies while still employed by the Company or (C) the Participant dies following a termination
described in subsection (A) above but prior to the expiration of the Option, the Option will expire on the earlier of the last day of
the Option Period and the first anniversary of the date of death or termination on account of Disability, as applicable.

 

(iii)
If the Participant’s employment is terminated by the Company for Cause, the Option will expire immediately on such termination.

 

3. Rights as a Stockholder.
The Participant will have no voting rights with respect to the Option unless and until the Participant becomes the record owner of the
Shares subject to the Option.

 

4. Tax
Withholding. The Participant will be solely responsible for any applicable taxes (including, without limitation, income and
excise taxes) and penalties, and any interest that accrues thereon, that the Participant incurs in connection with the receipt,
vesting or exercise of the Option. Without limiting Section 1(b), the Company will be authorized to withhold from the Option the
amount (in cash or Shares, or any combination thereof) of applicable withholding taxes due in respect of the Option, its exercise or
any payment or transfer under the Option and to take such other action (including providing for elective payment of such amounts in
cash or other property by the Participant) as may be necessary in the opinion of the Company to satisfy all obligations for the
payment of such taxes; provided, however, that no Shares will be withheld with a value exceeding the maximum statutory
rates in the applicable tax jurisdictions.

 

5.    Clawback;
Forfeiture; Detrimental Conduct. The Option will be subject to the clawback, forfeiture and detrimental conduct provisions
set forth in Section 14(t) of the Plan.

 

6.   No
Repricing. The Option will be subject to the prohibition on repricing set forth in Section 13(b) of the Plan.

 

    A-4

     

    

 

 7. Miscellaneous.

 

(a)
Compliance with Legal Requirements. The granting of the Option, and any other obligations
of the Company under this Award Agreement, will be subject to all applicable U.S. federal, state and local laws, rules and regulations,
all applicable non-U.S. laws, rules and regulations and to such approvals by any regulatory or governmental agency as may be required.
The Participant agrees to take all steps that the Committee or the Company determines are reasonably necessary to comply with all applicable
provisions of U.S. federal and state securities law and non-U.S. securities law in exercising the Participant’s rights under this
Award Agreement.

 

(b)
Transferability. The Option will be subject to the transfer restrictions set forth in Section 14(b) of the Plan.

 

(c)
Participant’s Employment or Other Service Relationship. Nothing in the Option will confer upon the Participant any
right to continue the Participant’s employment or other service relationship with the Company or any of its Affiliates or interfere
in any way with the right of the Company or any of its Affiliates or stockholders, as applicable, to terminate the Participant’s
employment or other service relationship with the Company or its Affiliates or to increase or decrease the Participant’s compensation
at any time. The grant of the Option is a one-time benefit and does not create any contractual or other right to receive any other grant
of other Awards under the Plan in the future. The grant of the Option does not form part of the Participant’s entitlement to compensation
or benefits in terms of the Participant’s employment or other service relationship with the Company or its Affiliates.

 

(d)
Waiver. No amendment or modification of any provision of this Award Agreement will
be effective unless signed in writing by or on behalf of the Company and the Participant, except that the Company may amend or modify
this Award Agreement without the Participant’s consent in accordance with the provisions of the Plan or as otherwise set forth in
this Award Agreement. No waiver of any breach or condition of this Award Agreement will be deemed to be a waiver of any other or subsequent
breach or condition whether of like or different nature. Any amendment or modification of or to any provision of this Award Agreement,
or any waiver of any provision of this Award Agreement, will be effective only in the specific instance and for the specific purpose for
which made or given.

 

(e)
Section 409A. The Option is not intended to be subject to Section 409A of the Code. This Award Agreement is intended
to comply with the requirements of Section 409A of the Code, and the provisions of this Award Agreement will be interpreted in a manner
that satisfies the requirements of Section 409A of the Code, and this Award Agreement will be operated accordingly. If any provision of
this Award Agreement or any term or condition of the Option would otherwise conflict with this intent, the provision, term or condition
will be interpreted and deemed amended so as to avoid this conflict. Notwithstanding the foregoing, the tax treatment of the benefits
provided under this Award Agreement is not warranted or guaranteed, and in no event will the Company be liable for all or any portion
of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section
409A of the Code.

 

    A-5

     

    

 

(f) Notices. All notices,
requests and other communications under this Award Agreement will be in writing and will be delivered in person (by courier or otherwise),
mailed by certified or registered mail, return receipt requested to the contact details below. The parties may use e-mail delivery, so
long as the message is clearly marked, sent to the e-mail address(es) set forth below.

 

if to the Company, to: 

 

Bowlero Corp.

Attention: Chief Legal Officer

7313 Bell Creek Road

Mechanicsville, VA 23111

 

if to the Participant, to the address, facsimile number or e-mail address
that the Participant most recently provided to the Company, or to such other address, facsimile number or e-mail address as such party
may hereafter specify for the purpose by notice to the other parties hereto.

 

(g)
Severability. The invalidity or unenforceability of any provision of this Award Agreement will not affect the validity or
enforceability of any other provision of this Award Agreement, and each other provision of this Award Agreement will be severable and
enforceable to the extent permitted by law.

 

(h)
Successors. The terms of this Award Agreement will be binding upon and inure to the benefit of the Company and its successors
and assigns, and of the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant.

 

(i)
Entire Agreement. The Participant acknowledges receipt of a copy of the Plan and represents that the Participant is familiar
with the terms and provisions thereof (and has had an opportunity to consult counsel regarding the Option terms), and hereby accepts the
grant of the Option and agrees to be bound by its contractual terms as set forth herein and in the Plan. The Participant acknowledges
and agrees that the grant of the Option constitutes additional consideration to the Participant for the Participant’s continued
and future compliance with any restrictive covenants in favor of the Company by which the Participant is otherwise bound. The Participant
hereby agrees to accept as binding, conclusive and final all decisions and interpretations of the Committee regarding any questions relating
to the Option. In the event of a conflict between the terms and provisions of the Plan and the terms and provisions of this Award Agreement,
the Plan terms and provisions will prevail. This Award Agreement, including the Plan, constitutes the entire agreement between the Participant
and the Company on the subject matter hereof and supersedes all proposals, written or oral, and all other communications between the parties
relating to such subject matter.

 

(j)
Governing Law. This Award Agreement will be construed and interpreted in accordance with the laws of the State of Delaware,
without regard to principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause
the application of the laws of any jurisdiction other than the State of Delaware.

 

(k)
 Electronic Signature and Delivery. This Award Agreement may be accepted by return signature or by electronic confirmation.
By accepting this Award Agreement, the Participant consents to the electronic delivery of prospectuses, annual reports and other information
required to be delivered by U.S. Securities and Exchange Commission rules (which consent may be revoked in writing by the Participant
at any time upon three business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information
will be delivered in hard copy to the Participant).

 

(l)
Electronic Participation in Plan. The Company may, in its sole discretion, decide to deliver any documents related to current
or future participation in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery
and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party
designated by the Company.

 

[Remainder of page intentionally blank] 

 

    A-6

     

    

 

EXHIBIT B

 

Stock Option Award Agreement (Initial Option)

 

[See attached]

 

 

 

 

 

    B-1

     

    

 

BOWLERO
CORP.

2021
Omnibus Incentive Plan

Notice
of OPTION Grant

(Initial option)

 

	Participant:	Brett I. Parker
	 	 
	# of Shares Subject to Option:	1,968,750 shares of Class A Common Stock of the Company, par value $0.00001 per share (the “Shares”).
	 	 
	Date of Grant:	December 15, 2021
	 	 
	Exercise Price Per Share:	$10.00 for 20% of the Option (“Tranche 1”)
	 	 
	 	$12.00 for 20% of the Option (“Tranche 2”)
	 	 
	 	$14.00 for 20% of the Option (“Tranche 3”)
	 	 
	 	$16.00 for 20% of the Option (“Tranche 4”)
	 	 
	 	$18.00 for 20% of the Option (“Tranche 5”)
	 	 
	Vesting Schedule:	The Option will vest in accordance with terms of the Award Agreement attached hereto as Annex I. On vesting, the Option will no longer be subject to cancellation pursuant to Section 2(a) of the Award Agreement.
	 	 
	Type of Option:	Nonqualified Stock Option 

 

By signing your name below, you accept the Option
and acknowledge and agree that the Option is granted under and governed by the terms and conditions of the Bowlero Corp. 2021 Omnibus
Incentive Plan and the Option Award Agreement set forth on Annex I, each of which are hereby made a part of this document. The
Option is not intended to qualify as an Incentive Stock Option.

 

	Participant	 	Bowlero Corp.
	 	 	 
	 	 	By:	 
	 	 	Title: 	              

 

    B-2

     

    

 

BOWLERO CORP.

2021
Omnibus Incentive Plan

OPTION AWARD AGREEMENT

 

Pursuant to the Notice of
Option Grant (“Grant Notice”) and this Option Award Agreement (this “Award Agreement”), Bowlero
Corp. (together with its Subsidiaries, whether existing or thereafter acquired or formed, and any and all successor entities, the “Company”)
has granted the Participant an Option (the “Option”) under the Bowlero Corp. 2021 Omnibus Incentive Plan (the “Plan”)
with respect to the number of Shares indicated in the Grant Notice. The Option represents the right to purchase the number of Shares indicated
in the Grant Notice, on the terms and conditions set forth in this Award Agreement and the Plan. The Option is granted to the Participant
effective as of the Date of Grant. Capitalized terms not defined in this Award Agreement or in the Grant Notice but defined in the Plan
will have the same definitions as in the Plan.

 

 8. Vesting; Exercise.

 

(a)  Vesting. The Option
will vest and become exercisable as follows:

 

(i)
Tranche 1 will vest and become exercisable in one-third installments on each of the first, second and third anniversaries of the
Date of Grant.

 

(ii)
Tranche 2 will vest and become exercisable in one-third installments on each of the second, third and fourth anniversaries of the
Date of Grant.

 

(iii)
Tranche 3 will vest and become exercisable in one-third installments on each of the third, fourth and fifth anniversaries of the
Date of Grant.

 

(iv)    
Tranche 4 will vest and become exercisable in one-third installments on each of the fourth, fifth and sixth anniversaries of the
Date of Grant.

 

(v)
Tranche 5 will vest and become exercisable in one-third installments on each of the fifth, sixth and seventh anniversaries of the
Date of Grant.

 

(b) Method of Exercise
and Form of Payment.  No Shares will be delivered pursuant to any exercise of the Option until the Participant has
paid in full to the Company the exercise price and an amount equal to any U.S. federal, state, local and non-U.S. income and
employment taxes required to be withheld. The Option may be exercised by delivery of written or electronic notice of exercise to the
Company or its designee (including a third-party administrator) in accordance with the terms hereof. The exercise price and all
applicable required withholding taxes will be payable (i) in cash, check, cash equivalent and/or in shares of Common Stock valued at
the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by the Committee, by means of
attestation of ownership of a sufficient number of shares in lieu of actual delivery of such shares to the Company); provided
that such shares are not subject to any pledge or other security interest, (ii) if there is a public market for the Shares at such
time, subject to the Company’s Securities Trading Policy and applicable law, by means of a broker-assisted “cashless
exercise” pursuant to which the Company is delivered a copy of irrevocable instructions to a stockbroker to sell the Shares
otherwise deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the exercise price
and all applicable required withholding taxes, or (iii) by such other method as the Committee may permit, including without
limitation: (A) in other property having a Fair Market Value equal to the exercise price and all applicable required withholding
taxes or (B) by means of a “net exercise” procedure effected by withholding the minimum number of Shares otherwise
deliverable in respect of an Option that are needed to pay for the exercise price and all applicable required withholding taxes. Any
fractional Shares resulting from the application of this Section 1(b) will be settled in cash.

 

    B-3

     

    

 

 9. Termination of Employment.

 

(a)
Subject to Section 2(b), if the Participant’s employment with the Company terminates at any time, the unvested portion of
the Option will be canceled immediately and the Participant will not be entitled to receive any payments with respect thereto.

 

(b)
If, during the Change in Control Period, the Participant’s employment is terminated by the Company without Cause (and other
than due to the Participant’s death or Disability), or as a result of a resignation by the Participant for Good Reason, the Option
will become fully vested and exercisable as of immediately prior to such termination; provided that if such termination or resignation
occurs during the Change in Control Period but prior to the Change in Control, the Option will become fully vested and exercisable as
of immediately prior to the Change in Control. “Change in Control Period”, “Cause”, “Disability” and
“Good Reason” have the meanings assigned to them in the Employment Agreement, dated as of the Date of Grant, by and between
the Company and the Participant.

 

 10. Expiration.

 

(a)
Option Period. In no event will all or any portion of the Option be exercisable after the tenth anniversary of the Date
of Grant (such ten-year period, the “Option Period”); provided, that if the Option Period would expire at a
time when trading in the Shares is prohibited by the Company’s Securities Trading Policy (or a Company-imposed “blackout period”),
the Option Period will be automatically extended until the 30th day following the expiration of such prohibition (so long as
such extension will not violate Section 409A of the Code).

 

(b)
Post-Termination Exercise.

 

(i)
If, prior to the end of the Option Period, the Participant’s employment is terminated by the Company without Cause or by
the Participant for any reason, then the Option will expire on the earlier of the last day of the Option Period and the date that is 90
days after the date of such termination; provided, however, that if the Participant is subsequently rehired, reappointed
or reengaged by the Company or any Affiliate within 90 days following such termination and prior to the expiration of the Option, the
Participant will not be considered to have undergone a termination of employment.

 

(ii) If (A) the
Participant’s employment with the Company is terminated prior to the end of the Option Period on account of the
Participant’s Disability, (B) the Participant dies while still employed by the Company or (C) the Participant dies following a
termination described in subsection (A) above but prior to the expiration of the Option, the Option will expire on the earlier of
the last day of the Option Period and the first anniversary of the date of death or termination on account of Disability, as
applicable.

 

(iii)
If the Participant’s employment is terminated by the Company for Cause, the Option will expire immediately on such termination.

 

    B-4

     

    

 

11.
Rights as a Stockholder. The Participant will have no voting rights with respect to the Option unless and until the
Participant becomes the record owner of the Shares subject to the Option.

 

12.
Tax Withholding. The Participant will be solely responsible for any applicable taxes (including, without limitation,
income and excise taxes) and penalties, and any interest that accrues thereon, that the Participant incurs in connection with the receipt,
vesting or exercise of the Option. Without limiting Section 1(b), the Company will be authorized to withhold from the Option the amount
(in cash or Shares, or any combination thereof) of applicable withholding taxes due in respect of the Option, its exercise or any payment
or transfer under the Option and to take such other action (including providing for elective payment of such amounts in cash or other
property by the Participant) as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes;
provided, however, that no Shares will be withheld with a value exceeding the maximum statutory rates in the applicable
tax jurisdictions.

 

13.
Clawback; Forfeiture; Detrimental Conduct. The Option will be subject to the clawback, forfeiture and detrimental
conduct provisions set forth in Section 14(t) of the Plan.

 

14.
No Repricing. The Option will be subject to the prohibition on repricing set forth in Section 13(b) of the Plan.

 

		15.	Miscellaneous.

 

(a)
Compliance with Legal Requirements. The granting of the Option, and any other obligations
of the Company under this Award Agreement, will be subject to all applicable U.S. federal, state and local laws, rules and regulations,
all applicable non-U.S. laws, rules and regulations and to such approvals by any regulatory or governmental agency as may be required.
The Participant agrees to take all steps that the Committee or the Company determines are reasonably necessary to comply with all applicable
provisions of U.S. federal and state securities law and non-U.S. securities law in exercising the Participant’s rights under this
Award Agreement.

 

(b)
Transferability. The Option will be subject to the transfer restrictions set forth in Section 14(b) of the Plan.

 

(c) Participant’s
Employment or Other Service Relationship. Nothing in the Option will confer upon the Participant any right to continue the
Participant’s employment or other service relationship with the Company or any of its Affiliates or interfere in any way with
the right of the Company or any of its Affiliates or stockholders, as applicable, to terminate the Participant’s employment or
other service relationship with the Company or its Affiliates or to increase or decrease the Participant’s compensation at any
time. The grant of the Option is a one-time benefit and does not create any contractual or other right to receive any other grant of
other Awards under the Plan in the future. The grant of the Option does not form part of the Participant’s entitlement to
compensation or benefits in terms of the Participant’s employment or other service relationship with the Company or its
Affiliates.

 

    B-5

     

    

 

(d)
Waiver. No amendment or modification of any provision of this Award Agreement will
be effective unless signed in writing by or on behalf of the Company and the Participant, except that the Company may amend or modify
this Award Agreement without the Participant’s consent in accordance with the provisions of the Plan or as otherwise set forth in
this Award Agreement. No waiver of any breach or condition of this Award Agreement will be deemed to be a waiver of any other or subsequent
breach or condition whether of like or different nature. Any amendment or modification of or to any provision of this Award Agreement,
or any waiver of any provision of this Award Agreement, will be effective only in the specific instance and for the specific purpose for
which made or given.

 

(e)
Section 409A. The Option is not intended to be subject to Section 409A of the Code. This Award Agreement is intended
to comply with the requirements of Section 409A of the Code, and the provisions of this Award Agreement will be interpreted in a manner
that satisfies the requirements of Section 409A of the Code, and this Award Agreement will be operated accordingly. If any provision of
this Award Agreement or any term or condition of the Option would otherwise conflict with this intent, the provision, term or condition
will be interpreted and deemed amended so as to avoid this conflict. Notwithstanding the foregoing, the tax treatment of the benefits
provided under this Award Agreement is not warranted or guaranteed, and in no event will the Company be liable for all or any portion
of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section
409A of the Code.

 

(f)   
Notices. All notices, requests and other communications under this Award Agreement will be in writing and will be delivered
in person (by courier or otherwise), mailed by certified or registered mail, return receipt requested to the contact details below. The
parties may use e-mail delivery, so long as the message is clearly marked, sent to the e-mail address(es) set forth below.

 

if to the Company, to: 

 

Bowlero Corp.

Attention: Chief Legal Officer

7313 Bell Creek Road

Mechanicsville, VA 23111

 

if to the Participant, to the address, facsimile
number or e-mail address that the Participant most recently provided to the Company, or to such other address, facsimile number or e-mail
address as such party may hereafter specify for the purpose by notice to the other parties hereto.

 

(g)
Severability. The invalidity or unenforceability of any provision of this Award Agreement will not affect the validity or
enforceability of any other provision of this Award Agreement, and each other provision of this Award Agreement will be severable and
enforceable to the extent permitted by law.

 

    B-6

     

    

 

(h)
 Successors. The terms of this Award Agreement will be binding upon and inure to the benefit of the Company and its successors
and assigns, and of the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant.

 

(i)
Entire Agreement. The Participant acknowledges receipt of a copy of the Plan and represents that the Participant is familiar
with the terms and provisions thereof (and has had an opportunity to consult counsel regarding the Option terms), and hereby accepts the
grant of the Option and agrees to be bound by its contractual terms as set forth herein and in the Plan. The Participant acknowledges
and agrees that the grant of the Option constitutes additional consideration to the Participant for the Participant’s continued
and future compliance with any restrictive covenants in favor of the Company by which the Participant is otherwise bound. The Participant
hereby agrees to accept as binding, conclusive and final all decisions and interpretations of the Committee regarding any questions relating
to the Option. In the event of a conflict between the terms and provisions of the Plan and the terms and provisions of this Award Agreement,
the Plan terms and provisions will prevail. This Award Agreement, including the Plan, constitutes the entire agreement between the Participant
and the Company on the subject matter hereof and supersedes all proposals, written or oral, and all other communications between the parties
relating to such subject matter.

 

(j)
Governing Law. This Award Agreement will be construed and interpreted in accordance with the laws of the State of Delaware,
without regard to principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause
the application of the laws of any jurisdiction other than the State of Delaware.

 

(k)
Electronic Signature and Delivery. This Award Agreement may be accepted by return signature or by electronic confirmation.
By accepting this Award Agreement, the Participant consents to the electronic delivery of prospectuses, annual reports and other information
required to be delivered by U.S. Securities and Exchange Commission rules (which consent may be revoked in writing by the Participant
at any time upon three business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information
will be delivered in hard copy to the Participant).

 

(l)
Electronic Participation in Plan. The Company may, in its sole discretion, decide to deliver any documents related to current
or future participation in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery
and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party
designated by the Company.

 

[Remainder of page intentionally blank] 

 

    B-7

     

    

 

EXHIBIT C

 

Certain Definitions

 

For purposes of this Agreement the following terms have the following
meanings:

 

“Accrued Obligations” means:

 

		(i)	any Base Salary that had accrued but had not been paid (including accrued and unpaid vacation time) on or before the Termination Date;

 

		(ii)	other than in the event of the Executive’s termination by the Company for Cause or by the Executive without Good Reason, any
Annual Incentive Bonus payable pursuant to Section 3.2 with respect to the fiscal year immediately preceding the fiscal year in which
the Termination Date occurs that had not previously been paid, paid when Annual Incentive Bonus payments are made to active employees
but in no event later than December 31 of the calendar year in which the Termination Date occurs;

 

		(iii)	any reimbursement due to the Executive pursuant to Section 4.2 for expenses incurred by the Executive through the Termination
Date; and

 

		(iv)	any other amounts or benefits required to be paid or provided by law or under any employee benefit plan, program, policy or practice
of the Company.

 

Subject to Section 18, all amounts in (i) and (iii) shall be paid
promptly after the Termination Date, the amount in (ii) shall be paid in accordance with (ii), and the amounts and benefits in (iv) shall
be paid or provided in accordance with their terms.

 

“Affiliate” means a Person that directly or indirectly
through one or more intermediaries, controls, or is controlled by, or is under common control with, the Company. As used in this definition,
the term “control,” including the correlative terms “controlling,” “controlled by” and “under
common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of management
or policies (whether through ownership of securities or any partnership or other ownership interest, by contract or otherwise) of a Person.

 

“Cause” shall mean that, during the Period of Employment,
any of the following events exists or has occurred:

 

		(i)	the Executive is convicted of, or pleads guilty or nolo contendre to, a felony (under the laws of the United States or any
relevant state, or a similar crime or offense under the applicable laws of any relevant foreign jurisdiction);

 

		(ii)	the Executive willfully commits an act of fraud, dishonesty or other act of willful misconduct in the
                                                                                                    course of the Executive’s duties hereunder that has an adverse impact on the Company or any Affiliate that is not immaterial,
                                                                                                    after the Company has delivered to the Executive a written
notice which describes the basis for the Board’s belief that the Executive has willfully committed such act;

 

    C-1

     

    

 

		(iii)	the Executive willfully fails to perform the Executive’s duties under this Agreement and/or willfully fails to comply with reasonable
directives of the Board, in either case after the Company has delivered to the Executive a written demand for performance which describes
the basis for the Board’s belief that the Executive has violated the Executive’s obligations to the Company, or failed to
comply with any such directives, as applicable, and the Executive fails to cure such alleged violation or failure within thirty (30) days
after receipt of such notice; or

 

		(iv)	any material breach by the Executive of (A) this Agreement or (B) any material Company policy that was communicated to the Executive
in writing that, in either case, (x) has or could reasonably be expected to have an adverse impact on the Company or any Affiliate that
is not immaterial and (y) after the Company has delivered to the Executive a written notice which describes the basis for the Board’s
belief that the Executive has materially breach this Agreement or such policy, and the Executive fails to cure such alleged breach within
thirty (30) days after receipt of such notice.

 

However, no act or failure to act, on the Executive’s part shall
be considered “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief
that the Executive’s action or omission was in the best interest of the Company. A determination by the Board that Cause exists
shall be effective only if approved by at least a majority of the Board (not counting the Executive if he is then a member of the Board)
voting in person or virtually at a meeting at which the Executive is entitled to be present (with counsel) and respond to any basis that
may be asserted as constituting Cause.

 

“Change in Control” has the meaning assigned to
it in the Omnibus Plan.

 

“Change in Control Period” means the period (i)
beginning on the date of the Company’s entry into a definitive agreement the consummation of the transactions contemplated thereby
would result in a Change in Control (unless such agreement is abandoned or terminated in accordance with its terms prior to the occurrence
of a Change in Control) and (ii) ending on the 24-month anniversary of such Change in Control.

 

“Disability” means a physical or mental
impairment which has rendered the Executive unable to perform the essential functions of his employment with the Company (with or
without reasonable accommodation) for more than 180 calendar days in any 12-month period, unless a longer period is required by
federal or state law, in which case that longer period would apply. The determination of whether or not a Disability exists for
purposes of this Agreement shall be based upon the findings of a qualified medical doctor reasonably agreed to by the Company and
the Executive (or, in the event of the Executive’s incapacity, his legal representative). In the absence of agreement between
the Company and the Executive, each party shall nominate a qualified medical doctor, and the two doctors so nominated shall select a
third qualified medical doctor, who shall make the determination as to Disability. The Company shall bear the costs of any such
determinations.

 

    C-2

     

    

 

“Good Reason” means a resignation by the Executive
after the occurrence (without the Executive’s consent) of any one or more of the following conditions caused by the Company:

 

		(i)	a diminution in the Executive’s rate of Base Salary from the rate then in effect or any diminution in compensation due to the
Executive pursuant to Section 3.2 or 3.3 hereof;

 

		(ii)	a material diminution in the Executive’s authority, duties, responsibilities or status, including, without limitation, any change
in title or position such that the Executive is no longer the President and Chief Executive Officer of the Company; provided that
the Company ceasing to be a publicly traded company will not, in and of itself, constitute a material diminution in the Executive’s
authority, duties, responsibilities or status;

 

		(iii)	any failure to nominate the Executive for reelection to the Board;

 

		(iv)	the failure of the Company to obtain the assumption in writing of its obligations to perform this Agreement by any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the
Company as contemplated by Section 8 hereof;

 

		(v)	any requirement that the Executive not be permitted to work remotely (other than travel as necessary in performing the Executive’s
duties for the Company, including travel to the Company’s headquarters and other locations as necessary);

 

		(vi)	the Company provides notice to the Executive, pursuant to Section 2 of this Agreement, that the Executive’s Period of Employment
will not be renewed; or

 

		(vii)	a material breach by the Company of this Agreement;

 

provided, however, that the existence of the condition
or conditions described in provisions (i) through (v) and (vii) above, each as applicable, shall not constitute Good Reason unless both
(x) the Executive provides written notice to the Company of the condition claimed to constitute Good Reason within sixty (60) days
after the Executive has (or reasonably should have) knowledge of the initial existence of such condition(s), and (y) the Company
fails to remedy such condition(s) within thirty (30) days of receiving such written notice thereof; and provided, further,
that in all events the termination of the Executive’s employment with the Company shall not constitute a termination for Good Reason
unless such termination occurs not more than one hundred and twenty (120) days after the Executive has (or reasonably should have) knowledge
of the initial existence of the condition claimed to constitute Good Reason.

 

“Person” shall be construed broadly and shall include,
without limitation, an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a
trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

 

“Separation from Service” means a “separation
from service” (within the meaning of Section 409A of the Code).

 

“Subsidiary” means any corporation or entity in
which the Company owns or controls directly or indirectly fifty percent (50%) or more of the voting power or economic interests of such
corporation or entity.

 

    C-3

     

    

 

EXHIBIT D

 

Form of Mutual Release

 

1. Release by the Executive. Brett I.
Parker (the “Executive”), on his own behalf and on behalf of his descendants, dependents, heirs, executors,
administrators, assigns and successors, and each of them, hereby acknowledges full and complete satisfaction of and releases and
discharges and covenants not to sue Bowlero Corp. (the “Company”), its divisions, subsidiaries, parents, or
affiliated corporations, past and present, and each of them, as well as its and their assignees, successors, directors, officers,
stockholders, partners, representatives, attorneys, agents or employees, past or present, or any of them (individually and
collectively, “Releasees”), from and with respect to any and all claims, agreements, obligations, demands and
causes of action, known or unknown, suspected or unsuspected, arising out of or in any way connected with the Executive’s
employment or any other relationship with or interest in the Company, and each of them, or the termination thereof, including
without limiting the generality of the foregoing, any claim for severance pay, profit sharing, bonus or similar benefit, pension,
retirement, life insurance, health or medical insurance or any other fringe benefit, or disability, or any other claims, agreements,
obligations, demands and causes of action, known or unknown, suspected or unsuspected resulting from any act or omission by or on
the part of Releasees committed or omitted prior to the date of this General Release Agreement (this “Agreement”)
set forth below, including, without limiting the generality of the foregoing, any claim under Title VII of the Civil Rights Act of
1964, the Americans with Disabilities Act, the Family and Medical Leave Act, or any other federal, state or local law, regulation or
ordinance (collectively, the “Claims”); provided, however, that the Executive does not waive or
release Claims with respect to any of the following: (1) Claims arising from any breach by the Company of this Agreement or the
Executive’s right to enforce this Agreement; (2) Claims arising with respect to those provisions of the Employment
Agreement dated as of December 15, 2021 by and between the Company and the Executive (the “Employment Agreement”)
that are intended to survive the termination of the Executive’s employment with the Company, including without limitation,
Sections 5 and 19 thereof; (3) any equity-based awards previously granted by the Company to the Executive, to the extent
that such awards continue after the termination of the Executive’s employment with the Company in accordance with the
applicable terms of such awards; (4) any vested right the Executive may have under any employee benefit plan, including,
without limitation, any incentive or bonus plan or policy of the Company; (5) any right to indemnification (including the
advancement of legal fees) that the Executive may have pursuant to the Employment Agreement, the bylaws or corporate charter of the
Company, or under any written indemnification agreement with the Company (or any corresponding provision of any parent, subsidiary
or affiliate of the Company) with respect to any loss, damages or expenses (including but not limited to attorneys’ fees to
the extent otherwise provided) that the Executive may incur with respect to his service as an employee, officer or director of the
Company, or any of its parents, subsidiaries or affiliates; (6) with respect to any rights that the Executive may have to
insurance coverage for such losses, damages or expenses under any Company (or parent, subsidiary or affiliate) directors and
officers liability insurance policy (in the future or previously in force); (7) any rights the Executive may have to
workers’ compensation benefits or unemployment benefits under state law, or to continued medical and dental coverage under
COBRA; (8) any rights to payment of benefits that the Executive may have under a retirement plan sponsored or maintained by the
Company that is intended to qualify under Section 401(a) of the Internal Revenue Code of 1986, as amended; or (9) any
rights the Executive may have as a stockholder of the Company (or the rights of any stockholder in which the Executive has a direct
or indirect beneficial interest). In the interest of clarity, in connection with the forgoing, the Executive acknowledges and agrees
that he will not provide information to others that would support any claims against the Company or encourage or participate in any
such claims. In addition, this release does not cover any Claim that cannot be so released as a matter of applicable law. The
Executive acknowledges and agrees that he has received any and all leave and other benefits that he has been and is entitled to
pursuant to the Family and Medical Leave Act of 1993. This release does not prevent the Executive from filing a charge with or
participating in an investigation by a governmental administrative agency or cooperating as required by law with any governmental
inquiry or investigation or judicial proceeding; provided, however, that the Executive waives any right to receive any
monetary award resulting from such a charge or investigation, including, without limitation, interest, penalties, fines, and
attorneys’ fees.

 

    D-1

     

    

 

2. Release
by the Company. In consideration of the Executive’s release of claims as set forth above, the Company, on behalf of itself and
its parents, divisions, subsidiaries, parents, or affiliated corporations, hereby unconditionally and irrevocably releases and forever
discharge the Executive, his descendants, dependents, heirs, executors, administrators, assigns and successors, past, present and future,
from all Claims arising out of or in any way connected with the Executive’s employment or any other relationship with or interest
in the Company, and each of them, or the termination thereof; provided, however, that the foregoing release does not apply
to (1) any obligation of the Executive pursuant to this Agreement or Section 6 of the Employment Agreement, (2) any act
of fraud or material dishonesty by the Executive, (3) any act or activity by the Executive that constitutes a crime under applicable
law, or (4) any claims or rights related to, or arising under, that certain Stockholders’ Agreement, dated as of July 1, 2021, by
and among (i) the Company, (ii) A-B Parent LLC, a Delaware limited liability company, (iii) Cobalt Recreation LLC, a Delaware
limited liability company, (iv) the Thomas F. Shannon and (v) Atairos Group, Inc., a Cayman Islands exempted company, or that
certain Stockholder Support Agreement attached as Exhibit I to the BCA (as defined in the Employment Agreement).

 

3. Release of Unknown Claims. It is
the intention of each of the parties hereto in executing this Agreement that the same shall be effective as a bar to each and every
claim, demand and cause of action hereinabove specified. In furtherance of this intention, each such party hereby expressly waives
any and all rights and benefits conferred upon him or it by any law, statute, or legal doctrine that would otherwise prevent the
release of unknown claims and expressly consents that this Agreement shall be given full force and effect according to each and all
of its express terms and provisions, including those related to unknown and unsuspected claims, demands and causes of action, if
any, as well as those relating to any other claims, demands and causes of action hereinabove specified. Each such party acknowledges
that he or it may hereafter discover claims or facts in addition to or different from those which such party now knows or believes
to exist with respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this
Agreement, may have materially affected this settlement. Nevertheless, each such party hereby waives any right, claim or cause of
action that might arise as a result of such different or additional claims or facts. Each such party acknowledges that he or it
understands the significance and consequence of such release and waiver.

 

4. ADEA
Waiver. The Executive expressly acknowledges and agrees that by entering into this Agreement, he is waiving any and all rights or
claims that he may have arising under the Age Discrimination in Employment Act of 1967, as amended (“ADEA”), which
have arisen on or before the date of execution of this Agreement. The Executive further expressly acknowledges and agrees that:

 

(a) In
return for this Agreement, he will receive consideration beyond that which he was already entitled to receive before entering into this
Agreement;

 

(b) He
is hereby advised in writing by this Agreement to consult with an attorney before signing this Agreement;

 

(c) He was given a copy of this Agreement
on [   ] and informed that he had [twenty-one (21)/forty-five (45) days] within which to consider this Agreement
and that if he wished to execute this Agreement prior to expiration of such [21/45]-day period, he should execute the Acknowledgement
and Waiver attached hereto as Exhibit D-1;

 

(d) Nothing
in this Agreement prevents or precludes the Executive from challenging or seeking a determination in good faith of the validity of this
waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically authorized by
federal law; and

 

(e) He
was informed that he has seven (7) days following the date of execution of this Agreement in which to revoke this Agreement, and
this Agreement will become null and void if the Executive elects revocation during that time. Any revocation must be in writing and delivered
in accordance with the notice provisions of the Employment Agreement, and must be received by the Company during the seven-day revocation
period. In the event that the Executive exercises his right of revocation, neither the Company nor the Executive will have any obligations
under this Agreement.

 

    D-2

     

    

 

5. No
Transferred Claims. The Executive represents and warrants to the Company that he has not heretofore assigned or transferred to any
person not a party to this Agreement any released matter or any part or portion thereof.

 

6. Non-Disparagement.
For three (3) years following the termination of the Executive’s employment, (i) the Executive will not disparage or defame
the Company or any of its directors or officers in any medium to any person, and (ii) the Company and its officers and directors
will not disparage or defame the Executive in any medium to any person; provided, however, that the foregoing shall not
prohibit any party from (A) giving truthful testimony in any legal proceeding pending before any agency or court of the United States
or state government or in any arbitration proceeding relating to this Agreement or otherwise required by law or any administrative or
legislative body or (B) responding to incorrect, disparaging or derogatory public statements to the extent necessary to correct or
refute such public statements.

 

7. Waiver
of Reemployment or Reinstatement. The Executive waives reemployment or reinstatement and agrees not to apply for employment or otherwise
seek to be hired, rehired, employed, reemployed, or reinstated by any Releasee. The Executive agrees that the Releasees have no obligation,
contractual or otherwise, to reemploy or reinstate him in the future.

 

8. Miscellaneous.
The following provisions shall apply for purposes of this Agreement:

 

(a) Successors.
This Agreement is personal to the Executive and shall not be assignable by the Executive. This Agreement shall inure to the benefit of
and be binding upon the Company, the Releasees, and their respective successors and assigns.

 

(b) Number
and Gender. Where the context requires, the singular shall include the plural, the plural shall include the singular, and any gender
shall include all other genders.

 

(c) Section Headings.
The section headings of, and titles of paragraphs and subparagraphs contained in, this Agreement are for the purpose of convenience only,
and they neither form a part of this Agreement nor are they to be used in the construction or interpretation thereof.

 

(d) Governing
Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT
TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF NEW YORK OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE
LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE STATE
OF NEW YORK WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION’S CHOICE OF LAW
OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY.

 

(e) Severability. It is the
desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible under
the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision
of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable under any
present or future law, and if the rights and obligations of any party under this Agreement will not be materially and adversely
affected thereby, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of
this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction, and to this end the
provisions of this Agreement are declared to be severable; furthermore, in lieu of such invalid or unenforceable provision there
will be added automatically as a part of this Agreement, a legal, valid and enforceable provision as similar in terms to such
invalid or unenforceable provision as may be possible. Notwithstanding the foregoing, if such provision could be more narrowly drawn
(as to geographic scope, period of duration or otherwise) so as not to be invalid, prohibited or unenforceable in such jurisdiction,
it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement or
affecting the validity or enforceability of such provision in any other jurisdiction.

 

    D-3

     

    

 

(f) Modifications.
This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly
referring to this Agreement, which agreement is executed by both of the parties hereto.

 

(g) Waiver.
Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall
operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further
exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect
to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall
be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 

(h) Arbitration;
Waiver of Jury Trial. The Executive and the Company agree that any controversy or claim arising out of or relating to this Agreement,
its enforcement or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions,
or any other controversy or claim arising out of the Executive’s employment, including, but not limited to, any state or federal
statutory claims, shall be submitted to arbitration in accordance with the arbitration and dispute resolution provisions set forth in
the Employment Agreement. WITHOUT LIMITING THE PRECEDING SENTENCE, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

(i) Additional
Actions. The Executive agrees to cooperate fully and to execute any and all supplementary documents and to take all additional reasonable
actions that may be necessary or appropriate to give full force to the basic terms and intent of this Agreement and that are not inconsistent
with its terms.

 

(j) Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one
or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories.
Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

(k) Legal Counsel; Mutual
Drafting. Each party recognizes that this is a legally binding contract and acknowledges and agrees that such party has had the
opportunity to consult with legal counsel of such party’s choice. Each party has cooperated in the drafting, negotiation and
preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against
either party on the basis of that party being the drafter of such language. The Executive agrees and acknowledges that the Executive
has read and understands this Agreement, is entering into it freely and voluntarily without coercion, and has been advised to seek
counsel prior to entering into this Agreement and has had ample opportunity to do so.

 

    D-4

     

    

 

The
undersigned have read and understand the consequences of this Agreement and voluntarily sign it. The undersigned declare under penalty
of perjury under the laws of the State of New York that the foregoing is true and correct.

 

EXECUTED this ________
day of ________ 20___, at _____________________ County, ________.

 

	 	“EXECUTIVE”
	 	    
	 	 
	 	Brett I. Parker

 

EXECUTED this ________ day of ________ 20___,
at _____________________ County, ________.

 

	 	 “COMPANY”
	 	 
	 	BOWLERO CORP.
	 	 
	 	By:	                   
	 	Name: 	 
	 	Title:	     

 

    D-5

     

    

 

EXHIBIT D-1

 

ACKNOWLEDGMENT AND WAIVER

 

I, Brett I. Parker, hereby acknowledge that I
was given [21/45] days to consider the foregoing General Release Agreement and voluntarily chose to sign the General Release Agreement
prior to the expiration of the [21/45]-day period.

 

I declare under penalty of perjury under the laws
of the State of New York that the foregoing is true and correct.

 

EXECUTED this ___ day of ____________ 20___, at ________
County, _______.

 

	 	 
	 	Brett I. Parker

 

    D-6

     

    

 

EXHIBIT E

 

Prior Inventions

 

1. Except
as listed in Section 2 below, the following is a complete list of all inventions, original works of authorship, developments, improvements
and trade secrets which relate to the Company’s or any Subsidiary’s actual or proposed business, products or research and
development that were made, conceived or first reduced to practice by me prior to my employment with the Company:

 

		☐	No inventions or improvements

 

		☐	See below (please provide identifying number, if applicable, and a short description):

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

		☐	Additional Sheets Attached

 

2. Due to a prior
confidentiality agreement, I cannot provide a full disclosure under Section 1 above with respect to inventions or improvements
generally listed below, the proprietary rights and duty of confidentiality with respect to which I owe to the following party(ies):

 

 

 

	 	Invention or Improvement	 	Party(ies)	 	Relationship
	1.	 	 	 	 	 
	2.	 	 	 	 	 
	3.	 	 	 	 	 

 

	☐	Additional Sheets Attached

 

 

E-1

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