Document:

Blueprint

 

  Exhibit
10.20

ASSET PURCHASE AGREEMENT

 

This ASSET PURCHASE
AGREEMENT (the
"Agreement") is made and entered into as of June 22,
2018 ("Execution
Date"), by and between
Super League Gaming, Inc., a Delaware corporation, on the one and
(the "Purchaser"
or "SLG"), and Minehut, a sole
proprietorship, on the other hand ("Minehut" or "Seller"). The Purchaser and the Seller may
be referred to collectively herein as the "Parties" and individually as a "Party."

 

RECITALS

 

WHEREAS,
Seller desires to sell the
tangible and intangible assets, and the services, listed in Exhibit
A hereto, to Purchaser upon the conditions set forth in this
Agreement; and

 

WHEREAS,
Purchaser desires to purchase
the assets, listed in Exhibit A hereto, of Seller upon the terms
and subject to the conditions set forth in this
Agreement.

 

NOW, THEREFORE,
in consideration of the premises
and the respective representations and warranties hereinafter set
forth, and the respective covenants and agreements contained
herein, and intending to be legally bound hereby, the Parties agree
as follows:

 

ARTICLE I.

PURCHASE
AND SALE; TRANSFER OF SERVICES AND RELATIONSHIPS; TECHNOLOGY
MILESTONES; CONSULTING SERVICES.

 

1.1        Agreement to Purchase and Sell
Assets. Upon the
terms and subject to the conditions set forth in this Agreement, at
the Closing, Seller will sell, transfer, convey, assign and deliver
to the Purchaser, and the Purchaser will purchase from the Seller,
all legal right, title and interest of the Seller in and to all of
the assets specifically detailed in Exhibit A hereto (collectively,
the “Assets”).

 

1.2  
     
No 
Assumption of
Liabilities. Purchaser shall not
assume, and shall not be responsible for, any of the liabilities of
Seller.

 

1.3    
   Total Purchase Price.
The total purchase price to be
paid by Purchaser for the Assets shall be One Hundred Thousand
Dollars ($100,000.00) (the ''Purchase Consideration"),
payable to Luke Chatton as
follows:

 

(a)
    
 $25,000.00 upon execution
hereof.

 

(b) 
   

 $25,000.00 upon transfer of all services and
relationships to SLG as outlined in Section 1.4
hereinbelow:

 

i.

 
To occur within first
7-14 days following execution of
theAgreement

 

ii

period from June 30, 2018 to July 7, 2018 is carved out from this
agreement for the purpose of the transfer of all services and
relationships to SLG. SLG understands that no transfer activity
will occur in this time frame and that the 7-14 days described in
the preceding paragraph will apply to dates before and after the
carved­ out period as necessary.

 

 

-1-

 

 

(c)    

 $30,000.00 upon reaching tech milestones
outlined in Section 1.5 hereinbelow:

 

i.

This amount may be reduced by the Purchaser based on true cost of
maintenance assessment

 

(d) 
   

 $20,000.00 in consulting and support fees payable to
Luke Chatton as described in Section 1.6 hereinbelow and payable as
follows:

 

(i) 

July 15 , 2018 - $3,000.00

 

(ii)

August 15, 2018 - $3,000.00

 

(iii) 

September 15, 2018 - $3,000.00 (iv) October 15, 2018 -
$3,000.00

 

(v) 

 November
15, 2018 - $3,000.00 (vi) December 15, 2018 -
$2,500.00

 

(vii)

January 15, 2019 - $2,500.00

 

1.4    
   Transfer of Services and
Relationships. Seller shall effectuate the transfer of the
following services and relationships to SLG, and upon doing so the
payment referred to in Section 1.3(b) hereinabove shall be
made:

 

(a) 
   
Volunteer Staff - It is understood that as a result of the
acquisition the volunteer staff may choose not to continue as
volunteers. Luke Chatton will use best efforts to transition the
volunteer staff to SLG oversight /management;

 

(b) 
   Vendors / Subscription
Services;

 

(c) 
 
  Introductions to the user-base
of Minehut via various means, including social and within systems
and forums, using communications developed by SLG;
and

 

(d)    
Any other relationships not currently identified, but subsequently
deemed necessary by SLG during the transfer
process.

 

1.5 
   
   Technology Milestones.
The following technology
milestones shall be satisfied prior to the payment referred to in
Section 1.3(c) hereinabove:

 

(a) 
   

 Technology knowledge transfer of web,
infrastructure, and data repositories and systems to SLG's internal
technology team, including Connor James, Kenny Goodin, and Catalin
Ionescu;

 

(b) 
   

 Documentation delivered related to all
Minehut services, code repositories and
infrastructure:

 

(i) 

This documentation  includes  a detailed 'operating runbook' of administrative , business and
technology activities; and

 

(ii) 

Training and escalation protocols for customer
service.

 

(c)   
 

 User migration, including the importing of accounts
into SLG systems.

 

 

 

-2-

 

 

(d)   
 
Full transition shall be deemed
achieved when SLG staff takes over maintenance of all Minehut
related systems on a continuous basis for a period of twenty (20)
calendar days. SLG and
Luke Chatton will work in good faith to produce a joint time
assessment as to how many
hours of maintenance are (on average) required on a per day basis.
This time assessment will impact the final payment installment as
follows:

 

(i) 

< l hour on average per day = $30,000.00, or full payment per
Section1.5
hereinabove;

 

(ii) 

>I but less than 2 hours on average per day = $20 ,000.00
payment;

 

(iii) 

>2 but less than 3 hours on average per day= $10,00.00 payment;
and

 

(iv) 

>3 hours on average per day= no additional
payment.

 

(e) 
  
  
 
Maintenance activities included in the time assessment consist of
the following:

 

(i) 

Technical

 

(A) 

24/7 Operational support

 

(B) 

Maintenance checklist including adding/ updating
plugins

 

(C) 

Maintaining existing marketing /sales/growth
activities

 

(D) 

Administration and Communications

 

(ii) 

Maintaining the staff/players community

 

(A) 

Necessary customer service activities

 

1.6  
     Consulting Services. In order
to receive the consulting fees per the schedule set forth in
Section l.3(d) hereinabove, Luke Chatton shall be onsite at the SLG
offices in Santa Monica until the technology milestones identified
in Section 1.5 hereinabove are achieved. Upon the successful
achievement of the technology milestones, Luke Chatton shall not be
required to be onsite and agrees to respond to escalations within
four (4) hours of being made by SLG to Chatton via email, or other
means of communication, until the conclusion of the consulting
period on January 31, 2019.

 

l. 7        Closing. The closing of the purchase and sale of the
Assets (the "Closing") shall occur on June 22, 2018 at the offices
of Purchaser, located at 2906 Colorado Ave., Santa Monica, CA
90404.

 

ARTICLE
II.

REPRESENTATIONS AND WARRANTIES OF SELLER.

 

2.1     
  Sole Proprietorship Status.
Seller is a sole proprietorship owned and operated by Luke Chatton.
Seller has full authority to execute and deliver this Agreement and
perform the transactions contemplated
hereby.

 

2.2    
   Actions. All actions and proceedings necessary to be
taken by or on the part of Seller in connection with the execution
and delivery of this Agreement and the consummation of the
transactions contemplated by this Agreement have been duly and
validly taken, and this Agreement has been duly and validly
authorized, executed and delivered by Seller and constitutes the
legal, valid and binding obligation of Seller, enforceable against
Seller in accordance with and subject to its
terms.

 

2.3     
  No
Defaults. Neither
the execution, delivery or performance by Seller of this Agreement
nor the consummation by Seller of the transactions contemplated
hereby is an event that, of itself or with the giving of notice or
the passage of time or both, will:

 

(a)     Violate or conflict with or result in any breach
of or any default under, result in any termination or modification
of, or cause any acceleration of any obligation under, any
contract, mortgage, indenture, agreement, lease or other instrument
to which Seller is a party to orby
which it is bound, or by which it may be affected, or result in the
creation of any lien or encumbrance upon any of Seller's assets;
or

 

 

-3-

 

 

(b) 
   

 Violate any judgment, decree, order, statute,
rule or regulation applicable toSeller.

 

2.4    
   Breach. Seller is not in violation or breach of any
of the terms, conditions or provisions of any contracts, lease,
instrument, court order, judgment, arbitration award, or decree
materially affecting the business of Seller, to which Seller is a
party or by which it is otherwise bound, where the effect thereof
would have a material adverse effect on
Seller.

 

2.5    
   Approvals and Consents; Assignment of
Contracts. To
Seller's knowledge, no permit, license, consent, approval or
authorization of, or filing with, any governmental regulatory
authority or agency is required in connection with the execution,
delivery and performance of this Agreement, or the consummation of
the transactions contemplated hereby, except where its absence
would not have a material adverse effect on the
Assets.

 

2.6     
  Title to and
Condition of Assets.

 

(a) 

    
Seller has good, valid and marketable title to all of the Assets,
free and clear of all liens, encumbrances and security interests of
every kind or character.

 

2.7    
   No
Broker or Finder. Seller has not employed or used the services
of any broker or finder in connection with this transaction and
Seller shall hold Purchaser completely free and harmless from the
claims of any person claiming to have so acted on behalf of
Seller.

 

ARTICLE III. 

REPRESENTATIONS
AND
WARRANTIES OF PURCHASER

                     

3.1    
   Corporate Status. Purchaser is
a corporation which is duly organized, validly existing, and in
good standing under the laws of the State of Delaware. Purchaser is
duly qualified to do business in each jurisdiction in which the
character of and location of its assets or operations makes
qualification to do business necessary. Purchaser has full
corporate power to carry on its business as it is now being
conducted and as proposed to be conducted and to own and operate
its assets. Purchaser has full corporate power and authority to
execute and deliver this Agreement and perform the transactions
contemplated hereby.

 

3.2     
  Corporate Actions.
All corporate or other actions
and proceedings necessary to be taken by or on the part of
Purchaser in connection with the execution and delivery of this
Agreement and the consummation of the transactions contemplated by
this Agreement, including the obtaining of approval by the
directors of Purchaser, have been duly and validly taken, and this
Agreement has been duly and validly authorized, executed and
delivered by Purchaser and constitutes the legal, valid and binding
obligation of Purchaser, enforceable against Purchaser in
accordance with and subject to its
terms.

 

 

-4-

 

 

3.3     
  No
Defaults. Neither
the execution, delivery or performance by Purchaser of this
Agreement nor the consummation by Purchaser of the transactions
contemplated hereby is an event that, of itself or with the giving
of notice or the passage of time or both,
will:

 

(a) 

    
Violate or conflict with the provisions of the articles of
incorporation or bylaws of Purchaser;

 

(b) 

    
Violate or conflict with or result in any breach of or any default
under, result in any termination or modification of, or cause any
acceleration of any obligation under, any contract, mortgage,
indenture, agreement, lease or other instrument to which Purchaser
is a party to or by which it is bound, or by which it may be
affected, or result in the creation of any lien or encumbrance upon
any of Purchaser's assets, except for agreements, indentures and
instruments related to the financing of the transactions
contemplated by this Agreement; or

 

(c) 

    Violate any judgment,
decree, order, statute, rule or regulation applicable
to 
Purchaser.

 

3.4     
  Breach. Purchaser is not in violation or breach of
any of the terms, conditions or provisions of its articles
of organization,
as amended, its operating agreement, as amended, or any indenture,
mortgage or deed of trust or other contracts, lease, instrument,
court order, judgment, arbitration award, or decree materially
affecting the business of Purchaser, to which Purchaser is a party
or by which it is otherwise bound, where the effect thereof would
have a material adverse effect on
Purchaser.

 

3.5     
  Approvals and Consents.
All approvals and consents of
entities not a party to this Agreement, legally and contractually
required, have been obtained by Purchaser in connection with the
execution and delivery of this Agreement and the consummation of
the transactions contemplated by this
Agreement.

 

3.6    
   Litigation. There are no lawsuits, judgments,
arbitrations, administrative charges or other legal proceedings,
claims or governmental investigations pending against, or to
Purchaser's knowledge, threatened against the Purchaser relating to
or affecting the execution, delivery or performance of this
Agreement or the ability of Purchaser to perform its obligations
under this Agreement.

 

3.7    
   No
Broker or Finder. Purchaser has not employed or used the
services of any broker or finder in connection with this
transaction and shall hold Seller completely free and harmless from
the claims of any person claiming to have so acted on behalf of
Purchaser.

 

ARTICLE IV.

COVENANTS OF SELLER.

 

4.1     
  Representations and
Warranties. Seller shall give detailed written notice to
Purchaser promptly upon learning of any fact which (i) would render
untrue in any material respect any of Seller's representations or
warranties contained in this Agreement, or (ii) would cause Seller
to fail to comply with its obligations hereunder in any material
respect between the Execution Date and the
Closing.

 

4.2     
  Consummation of
Agreement. Seller
shall use its best efforts to fulfill and perform all conditions
and obligations on its part to be fulfilled and performed under
this Agreement, and cause the transactions contemplated by this
Agreement to be fully consummated.

 

4.3     
  Restrictions.
Prior to the Closing, and
without the prior written consent of Purchaser, Seller shall not
encumber or grant any security interest in any of the
Assets.

 

 

 

-5-

 

 

ARTICLE V.

COVENANTS OF PURCHASER.

 

5.1    
   Representations and
Warranties. Purchaser shall give detailed written notice
to Seller promptly upon learning of any fact which (i) would render
untrue in any material respect any of Purchaser' s representations
or warranties contained in this Agreement, or (ii) would cause
Purchaser to fail to comply with is obligations hereunder in any
material respect between the Execution Date and the
Closing.

 

5.2     
  Consummation of
Agreement. Purchaser shall fulfill and perform all
conditions and obligations on its part to be fulfilled and
performed under this Agreement, and cause the transactions
contemplated by this Agreement to be fully
consummated.

 

ARTICLE VI.

ITEMS TO BE DELIVERED AT THE CLOSING.

 

6.1     
  Deliveries by Seller. At the
Closing, Seller shall deliver to Purchaser the
following:

 

(a)    

 
All of the Assets specified in Exhibit A hereto;
and

 

(b) 
   

 
Such deeds, bills of sale, certificates of title, endorsements,
assignments and other good and sufficient instruments of sale,
conveyance and transfer and assignment in form and substance
reasonably satisfactory to Purchaser sufficient to sell, convey,
transfer and assign to Purchaser all right, title and interest of
Seller in and to the Assets.

 

6.2     
  Deliveries by Purchaser.
At the Closing, Purchaser shall
deliver to Seller the following:

 

(a) 
   

 
Certified copies of resolutions, duly adopted and executed by the
board of directors of Purchaser, which shall be in full force and
effect at the time of the Closing, authorizing the execution,
delivery and performance by Purchaser of this Agreement and the
consummation of the transactions contemplated
hereby.

 

(b)    

 A check, or wire transfer to Luke Chatton, in
the amount of $25,000.00.

 

ARTICLE VII.

POST-CLOSING MATTERS.

 

7.1        Post-Closing
Obligations. Purchaser shall make the remaining, and
applicable, payments specified in Sections l .3(b)-(d) upon the
completion by Seller, including Luke Chatton, of the requirements
specified in Sections 1.4, 1.5 and 1.6.

 

 

-6-

 

 

ARTICLE VIII.

INDEMNIFICATION.

 

8.1        Indemnification by Seller.
Seller shall indemnify, defend and hold Purchaser harmless from and
against any and all liabilities or obligations arising with respect
to the Assets up to the Closing. Further, Seller shall indemnify,
defend and hold harmless Purchaser from and
against any and all claims, demands, losses,
costs, expenses, obligations, liabilities, damages, recoveries, and
deficiencies, including reasonable attorney's fees and costs
(collectively, "Losses") that Purchaser may incur or suffer, which
arise, result from, or relate to: (i) any inaccuracy of Seller's
representations and warranties contained in this Agreement or in
any agreement, instrument or document entered into pursuant hereto
or in connection with the Closing, or (ii) any breach of or failure
by Seller to perform any of its covenants or agreements contained
in this Agreement or in any agreement, instrument or document
pursuant hereto or in connection with the Closing. Seller shall not
have any liability under this Section 8.1 unless Purchaser gives
written notice to Seller asserting a claim for Losses, including
reasonably detailed facts and circumstances pertaining thereto,
before the expiration of one (1) year from the
Closing.

 

8.2    
   Indemnification by
Purchaser. Purchaser shall indemnify, defend and hold
Seller harmless from and against any and all liabilities or
obligations arising with respect to the Assets, excepting claims
asserted after the Closing that relate to actions taken by Seller
prior to the Closing. Further, Purchaser shall indemnify, defend
and hold harmless Seller from and against any and all claims,
demands, losses, costs, expenses, obligations, liabilities,
damages, recoveries, and deficiencies, including reasonable
attorney's fees and costs (collectively, "Losses") that Seller may incur or suffer, which
arise, result from, or relate to: (i) any inaccuracy of Purchaser's
representations and warranties contained in this Agreement or in
any agreement, instrument or document pursuant hereto or in
connection with the Closing, or (ii) any breach of or failure by
Purchaser to perform any of its covenants or agreements contained
in this Agreement or in any agreement, instrument or document
pursuant hereto or in connection with the Closing. Purchaser shall
not have any liability under this Section 8.2 unless Seller gives
written notice to Purchaser asserting a claim for Losses, including
reasonably detailed facts and circumstances pertaining thereto,
before the expiration of one (1) year from the
Closing.

 

ARTICLE IX.

MISCELLANEOUS.

 

9.1     
  Termination of
Agreement. This
Agreement may be terminated at any time on or prior to the Closing:
(a) by the mutual written consent of Seller and Purchaser; (b) by
Purchaser at any time prior to Closing if Purchaser, prior to such
date, determines in its sole discretion that the results of its due
diligence investigation of Seller is in any way unsatisfactory. A
termination pursuant to this Section 9.1 shall not relieve any
Party of any liability it otherwise has for a breach of this
Agreement. As a condition to any termination by Purchaser
hereunder, all information and materials relating to the Assets and
to which Purchaser obtained access during the negotiations leading
to, or following, execution of this Agreement, and any other
writings containing excerpts of such materials or information, and
any or all copes thereof, shall be delivered to
Seller.

 

9.2    
   Expenses. Each Party hereto shall bear all of its
expenses incurred in connection with the transactions contemplated
by this Agreement, including without limitation, accounting and
legal fees incurred in connection
herewith.

 

 

-7-

 

 

9.3     
  Further Assurances.
From time to time prior to, on
and after the Closing, each Party hereto will execute all such
instruments and take all such actions as any other Party, being
advised by counsel, shall reasonably request, without payment of
further consideration, in connection with carrying out and
effectuating the intent and purpose hereof and all transactions and
things contemplated by this Agreement , including without
limitation the execution and delivery of any and all confirmatory
and other instruments in addition to those to be delivered on the
Closing, and 
any and all actions which may reasonably be necessary or desirable
to complete the transactions contemplated hereby. The Parties shall
cooperate fully with each other and with their respective counsel
and accountants in connection with any steps required to be taken
as part of their respective obligations under this
Agreement.

 

9.4    
   Construction. All signatories
hereto agree that each of them and their respective counsel, and
other advisors, has reviewed and had an opportunity to revise this
Agreement and the exhibits hereto and, therefore, the normal rule
of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the
interpretation of this Agreement or any exhibits
hereto.

 

ARTICLE X.

DISPUTE RESOLUTION.

 

10.1      
Direct
Discussion. In the
event of any dispute, claim, question, or disagreement arising out
of or relating to this Agreement (a "Dispute"), the Parties involved in such Dispute shall
use their best efforts to settle such Dispute. To this effect,
management of the Parties involved shall consult and negotiate with
each other in good faith to attempt to reach a just and equitable
solution satisfactory to both parties.

 

10.2      
Governing Law.
This Agreement and all questions
relating to its validity, interpretation, performance and
enforcement shall be governed by and construed in accordance with
the laws of the State of California.

 

10.3      
Submission to
Jurisdiction. The
Parties irrevocably and unconditionally:

 

(a)    

submit to the non-exclusive jurisdiction of the courts of the State
of California, County of Los Angeles, and all courts of appeal from
them; and

 

(b)    

waive any objection they may now or in the future have to the
bringing of proceedings in those courts and any claim that any
proceedings have been brought in an inconvenient
forum.

 

ARTICLE XI.

GENERAL PROVISIONS.

 

11.1      
Successors and Assigns.
Except as otherwise expressly
provided herein, this Agreement shall be binding upon and inure to
the benefit of the Parties hereto, and their respective
representative, successors and assigns. No Party hereto may assign
any of its rights or delegate any of its duties hereunder without
the prior written consent of the other Party, and any such
attempted assignment or delegation without such consent shall be
void. Seller agrees not to unreasonably withhold its consent to any
assignment by Purchaser of its rights hereunder prior to Closing to
a corporation or other entity controlled by Purchaser, provided
that (a) such assignee will assume all obligations of Purchaser
hereunder, without Purchaser being released, and (b) such
assignment will not, in Seller's reasonable judgment, delay in any
material way or make more doubtful the
Closing.

 

11.2      
Amendments; Waivers.
The terms, covenants,
representations, warranties and conditions of this Agreement may be
changed, amended modified, waived, discharged or terminated only by
a written instrument executed by the Party waiving compliance. The
failure of 
any Party at any time or times to require performance of any
provision of this Agreement shall in no manner affect the right of
such Party at a later date to enforce the same. No waiver by any
Party of any condition or the breach of any provision, term,
covenant, representation or warranty contained in this Agreement,
whether by conduct or otherwise, in any one or more instance shall
be deemed to be or construed as a further or continuing waiver of
any such condition or of the breach of any other provision, term,
covenant, representation or warranty of this
Agreement.

 

 

 

-8-

 

 

11.3      
Notices. All notices, requests,
demands and other communications required or permitted under this
Agreement shall be in writing (which shall include notice by telex
or facsimile transmission) and shall be deemed to have been duly
made and received when personally served, or when delivered by
Federal Express or a similar overnight courier service, expenses
prepaid, or, if sent by telex, graphic scanning or other facsimile
communications equipment, delivered by such equipment, addressed as
set forth below:

 

(a)  
  
If to Seller, then to Luke Chatton, 11130 San Gabriel Way, Valley
Center, CA 92082; and

 

(b)  
  
 If to
Purchaser, then to: Super League Gaming, Inc.; 2906 Colorado Ave.,
Santa Monica, CA 90404; Attn: Ann Hand, CEO &
President.

 

Any Party may alter the address to which communications are to be
sent by giving notice of such change of address in conformity with
the provisions of this Section 11.3 providing for the giving of
notice.

 

11.4      
Captions. The captions of Articles and Sections of
this Agreement are for convenience only and shall not control or
affect the meaning or construction of any of the provisions of this
Agreement.

 

11.5      
Entire Agreement.
This Agreement and the other
documents delivered hereunder constitute the full and entire
understanding and agreement between the Parties with regard to the
subject matter hereof, and supersedes all prior agreements,
understandings, inducements or conditions, express or implied, oral
or written, relating to the subject matter hereof, except as herein
contained. The express terms hereof control and supersede any
course of performance and/or usage of trade inconsistent with any
of the terms hereof.

 

11.6      
Execution; Counterparts.
This Agreement may be executed
in any number of original or facsimile counterparts, each of which
shall be deemed to be an original as against any Party whose
signature appears thereon, and all of which shall together
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.

 

11.7      
Time. Time is of
the essence in complying with all stated dates and
times.

 

11.8      
Currency.
A reference to ' US$' is a
reference to the currency of the USA.

 

11.9      
Related Party Transaction; Arms-Length
Negotiation. For the avoidance of doubt,
this Agreement has been negotiated at arm's-length between the
Parties and, by their execution of this Agreement, has been unanimously agreed upon by
both Seller and Purchaser.

 

 

 

-9-

 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be
duly executed by their authorized signatories as of the date first
written above.

 

 

PURCHASER:

 

 

SUPER LEAGUE GAMING, INC.,

     A Delaware
corporation

 

     By: 
/s/ Ann Hand

             Ann
Hand

             CEO
& President

 

 

SELLER:

 

 

MINEHUT,

    
A Sole proprietorship

 

    By: /s/ Luke Chatton

           Luke
Chatton

 

 

 

[SIGNATURE PAGE TO ASSET PURCHASE AGREEMENT]

 

-10-

 

 

EXHIBIT A

 

LIST OF ASSETS

 

The tangible and intangible assets being sold to SLG consist of the
following:

 

●    

All
Minehut assets, trademarks, IP and service
relationships related to the development, infrastructure and
support of the Minehut system

 

●

Discord servers

 

o

Public and staff

 

●

Twitter https://twitter.com/MinehutMC

 

●

OVH account (dedicated servers)

 

●

Domains:

 

o

Minehut.com

 

o

Minehut.gg

 

o

Minehut.me

 

●

Paypal Account (needs to be transferred as it holds active
subscriptions)

 

●

Github org

 

●

Google Adsense

 

●

Google Analytics

 

●   

Any
other services
not currently identified, but subsequently deemed necessary by SLG
during the transfer process

 

 

 

-11-

 

 

EXHIBIT B

 

BILL OF SALE

 

FOR GOOD, ADEQUATE, AND
VALUABLE CONSIDERATION, the receipt and sufficiency which is hereby
acknowledged, the undersigned Minehut, a sole proprietorship
("Seller") , hereby grants, bargains, sells, transfers, conveys,
and delivers to Super League Gaming , Inc., a Delaware corporation
("'Purchaser"), the following property:

 

I.

All tangible and intangible property listed in Exhibit A and in the
Asset Purchase Agreement (collectively, the "Assets") attached
hereto and incorporated herein in its entirety by this
reference.

 

Seller warrants and represents that it is
the lawful owner of all the Assets and that it has full legal
right, power, and authority to sell and transfer the Assets. Seller
further warrants and represents that the Assets are free from all
liens, encumbrances, liabilities, and adverse claims of every nature and
description and that Seller will warrant and defend the Assets
against any and all lawful claims.

 

Dated: June 22, 2018

 

 

SELLER:

 

 

MINEHUT,

A sole proprietorship

 

By: /s/ Luke Chatton

       Luke
Chatton

 

 

PURCHASER:

 

 

SUPER LEAGUE GAMING, INC.

 

By: /s/ Ann
Hand  

      
Ann Hand

      
CEO & President

 

 

 

-12-Exhibit
10.1

Execution
Version

EMPLOYMENT
AGREEMENT

               This
Employment Agreement (this “Agreement”) is entered into on December 31, 2018 (the “Effective Date”)
by and between Steven Madden, Ltd. (the “Company”) and Edward R. Rosenfeld (the “Executive”).

RECITALS

               WHEREAS,
the Executive has served as the Chief Executive Officer and the Chairman of the Board of Directors of the Company since August
8, 2008, having previously served, from March 24, 2008 until August 8, 2008, as Interim Chief Executive Officer and, from May
2005 until March 24, 2008, as Executive Vice President of Strategic Planning and Finance; and

               WHEREAS,
since the Executive’s existing employment agreement will expire by its terms on December 31, 2018, the Company and the Executive
desire to enter into this Agreement, which will set forth the terms and conditions upon which the Executive shall continue to
be employed by the Company and upon which the Company shall compensate the Executive from and after the Effective Date;

               NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants hereinafter set forth, the parties hereto have agreed,
and do hereby agree, as follows:

               1.               EMPLOYMENT;
TERM

                                 1.1                The
Company shall employ the Executive in its business, and the Executive shall continue to work for the Company, as its Chief Executive
Officer for a term, subject to earlier termination in accordance with the provisions of this Agreement (the “Term”),
commencing as of the Effective Date and terminating on December 31, 2021 (the “Expiration Date”). 

                                 1.2                Upon
the expiration of the Term or the earlier termination of the Executive’s employment with the Company for any reason whatsoever,
the Executive shall be deemed to have resigned all of his positions as an officer and director of the Company and of each and
every subsidiary thereof.

               2.               DUTIES

                                 During
the Term, the Executive shall serve as the Company’s Chief Executive Officer and shall have such executive and managerial
responsibilities on behalf of the Company of the type and nature generally associated with his position and such further duties
as shall, from time to time, be delegated or assigned to him by the Board of Directors of the Company consistent with his position.
The Executive shall also continue to serve as Chairman of the Board of Directors of the Company.

    	1

    	 

    

               3.               DEVOTION
OF TIME

                                 During
the Term, the Executive shall expend all of his working time for the Company; shall devote his best efforts, energy and skill
to the services of the Company and the promotion of its interests; and shall not take part in activities detrimental to the best
interests of the Company.

               4.               COMPENSATION

                                 4.1                For
all services to be rendered by the Executive during the Term and in consideration of the Executive’s representations and
covenants set forth in this Agreement, the Executive shall receive from the Company the following base salary per annum (“Base
Salary”): 

(i)         For
the calendar year 2019, $945,000;

(ii)        For
the calendar year 2020, $992,250; and

(iii)       For
the calendar year 2021, $1,041,863.

               The
Base Salary payable to the Executive shall be paid at such regular weekly or semi-monthly time or times as the Company makes payment
of its regular payroll in the regular course of business.

                

                                 4.2                During
the Term, the Executive shall receive from the Company an automobile allowance of $1,500 per month.

                                 4.3                On
December 31, 2018, the Company shall grant to the Executive, as additional compensation, 87,500 shares of the Company’s
common stock, $0.0001 per share, subject to certain restrictions (the “2018 Restricted Common Stock”), such
grant to be made under the Company’s 2006 Stock Incentive Plan, as amended. The 2018 Restricted Common Stock shall be subject
to a Restricted Stock Award Agreement and shall vest and cease to be Restricted Common Stock in five equal installments as follows:
17,500 shares on December 1, 2019; 17,500 shares on December 1, 2020; 17,500 shares on December 1, 2021; 17,500 shares on December
1, 2022; and 17,500 shares on December 1, 2023. 

                                                      On
February 1, 2019, the Company shall grant to the Executive, as additional compensation, 87,500 shares of the Company’s common
stock, $0.0001 per share, subject to certain restrictions (the “2019 Restricted Common Stock”), such grant
to be made under the Company’s 2006 Stock Incentive Plan, as amended. The 2019 Restricted Common Stock shall be subject
to a Restricted Stock Award Agreement and shall vest and cease to be Restricted Common Stock in five equal installments as follows:
17,500 shares on February 1, 2020; 17,500 shares on February 1, 2021; 17,500 shares on February 1, 2022; 17,500 shares on February
1, 2023; and 17,500 shares on February 1, 2024.

    	2

    	 

    

                                 4.4                During
the Term, the Executive shall be eligible for such additional compensation and bonuses as may be determined from time to time
by the Board of Directors of the Company or a committee thereof in its sole discretion. 

               5.               REIMBURSEMENT
OF EXPENSES

                                 5.1                The
Company shall pay directly, or reimburse the Executive for, all reasonable and necessary expenses and disbursements incurred by
the Executive for and on behalf of the Company in the performance of his duties during the Term.

                                 5.2                The
Executive shall submit to the Company, not less than once in each calendar month, reports of such expenses and disbursements in
form normally used by the Company and receipts with respect thereto, and the Company’s obligations under Section. 5.1 hereof
shall be subject to compliance therewith.

               6.               VACATION,
SICK PAY, AND PERSONAL DAYS

                                 The
Executive shall be entitled to vacation, sick, and personal days off in accordance with the Company’s usual policies as
set forth in the Company’s Employee Handbook as in effect on the Effective Date, as the same may be amended from time to
time.

               7.               PARTICIPATION
IN EMPLOYEE BENEFIT PLANS

                                 The
Executive shall be eligible to participate in and receive all fringe benefits available under all benefit programs normally available
to employees of the Company holding positions similar to that of the Executive, as may be in effect from time to time, including
such pension, profit sharing, stock option, life insurance, disability insurance, health insurance and dental insurance plans
and any other benefits and plans as may be implemented by the Company from time to time.

               8.               SERVICE
AS OFFICER AND DIRECTOR

                                 During
the Term, the Executive shall, if elected or appointed, serve as (a) an officer of any subsidiaries of the Company and/or entities
affiliated with the Company in existence or hereafter created or acquired and (b) a director of any such subsidiaries of the Company
and/or entities affiliated with the Company in existence or hereafter created or acquired, in each case without any additional
compensation for such services.

               9.               EARLIER
TERMINATION

                                 9.1                The
Executive’s employment hereunder shall automatically terminate upon his death; provided, however, that the Company shall
continue to pay to the Executive’s estate the Executive’s Base Salary and all other benefits as set forth herein for
a period of twelve months commencing immediately subsequent to the date of the Executive’s death.

                                 9.2                (a)          The
Executive’s employment may be terminated (i) by the Company at any time during the Term upon written notice to the Executive
(A) in the event of the Executive’s Total Disability (as hereinafter defined), (B) for Cause (as hereinafter defined) or
(C) without Cause or (ii) by the Executive at any time during the Term upon written notice to the Company (A) for Good Reason
and (B) without Good Reason. 

    	3

    	 

    

                                                      (b)          As
used in this Agreement, “Cause” shall mean: (i) a deliberate and intentional breach by the Executive of a substantial
and material duty and responsibility under this Agreement that is not remedied, if capable of being remedied, within 30 days after
receipt of written notice by certified mail, return receipt requested, from the Company specifying such breach; (ii) the Executive’s
conviction of, or pleading guilty or nolo contendere to, any crime constituting a felony; (iii) the conviction of the Executive
of any crime involving moral turpitude; or (iv) gross negligence or willful misconduct in the performance of the Executive’s
duties or willful refusal or inability to perform such duties as may be delegated to the Executive, which are consistent with
the Executive’s position as in effect just prior to such delegation, which negligence, misconduct, refusal or inability
is not remedied by the Executive within 30 days following receipt by the Executive of written notice from the Board of Directors,
such notice to state with specificity the nature of the breach, negligence, misconduct, refusal or inability related to the Executive’s
employment with the Company.

                                                      (c)          For
purposes of this Agreement, “Total Disability” shall be deemed to exist if, after the Executive has failed
to perform his regular and customary duties for a period of 90 consecutive days or for any 180 days out of any 360-day period,
and before the Executive has become Rehabilitated (as hereinafter defined), a majority of the members of the Board of Directors
of the Company, exclusive of the Executive, determine that the Executive is mentally or physically incapable or unable to continue
to perform such regular and customary duties of employment. As used herein, “Rehabilitation” shall mean such
time as the Executive is willing and able and commences to devote his time and energies to the affairs of the Company to a reasonable
extent and in a similar manner to that which the Executive did prior to his disability.

                                                      (d)          As
used in this Agreement, “Good Reason” shall mean the occurrence of any of the following:

(i)         the
assignment to the Executive, without his consent, of any duties inconsistent in any substantial and negative respect with his
positions, duties, responsibilities and status with the Company as contemplated hereunder or diminution of such positions, duties,
responsibilities and status, if not remedied by the Company within 30 days after receipt of written notice thereof from the Executive;

(ii)        any
removal of the Executive, without his consent, from any positions or offices the Executive held as contemplated hereunder, except
in connection with the termination of the Executive’s employment by the Company pursuant to the requirements of this Agreement,
if not remedied by the Company within 30 days after receipt of written notice thereof from the Executive;

(iii)       a
reduction by the Company of the Executive’s Base Salary as in effect as contemplated hereunder, except in connection with
the termination of the Executive’s employment by the Company; 

    	4

    	 

    

(iv)       any
termination of the Executive’s employment by the Company during the Term that is not effected in accordance with the terms
of this Agreement;

(v)        any
material breach by the Company of the terms of this Agreement, which is not remedied by the Company within 30 days after receipt
of written notice thereof from the Executive;

(vi)       the
relocation of the Executive’s work location, without the Executive’s consent, to a place more than 75 miles from the
Company’s offices located at 52-16 Barnett Avenue, Long Island City, New York; or

(vii)      the
failure by any successor to the Company to expressly assume all obligations of the Company under this Agreement, which failure
is not remedied by the Company within 30 days after receipt of written notice thereof from the Executive.

                                 9.3                In
the event that the Executive’s employment with the Company is terminated by the Company due to the Executive’s Total
Disability, then this Agreement shall be deemed terminated and the Company shall be released from all obligations to the Executive
with respect to this Agreement, except obligations accrued prior to such termination date and, in addition, the Company shall
pay to the Executive his Base Salary pursuant to this Agreement for a period of twelve months commencing immediately subsequent
to the date of determination of Total Disability.

                                 9.4                In
the event that the Executive’s employment with the Company is terminated by the Company for Cause or by the resignation
of the Executive without Good Reason (i) the Company shall have no further obligations to the Executive, (ii) the Executive shall
be entitled to no further compensation or benefits from the Company, except for any pro-rata amounts due to the Executive at such
date of termination, as provided for in Section 4 and (iii) the amount to be paid to the Executive pursuant to this Section 9.4
shall constitute the sole and exclusive remedy of the Executive. The foregoing shall not be construed as a limitation of any rights
or remedies available to the Company with regard to any acts or omissions of the Executive that gave rise to the termination for
Cause.

                                 9.5                In
the event that the Executive’s employment with the Company is terminated by the Company other than for death, Total Disability
or Cause or by the resignation of the Executive for Good Reason, then such termination shall be effective 30 days after the Executive’s
receipt of notice of termination or the Company’s receipt of notice of resignation and in either event the Executive shall
receive, as liquidated damages, an amount equal to the Executive’s Base Salary that would have been paid by the Company
pursuant to Section 4 hereof for the longer of (i) the remainder of the Term and (ii) six months, such amount to be paid to the
Executive by the Company at such regular weekly or semi-monthly time or times as the Company makes payment of its regular payroll
in the regular course of business. 

    	5

    	 

    

                                 9.6                (a)
In the event that during the period commencing 90 days prior to a Change of Control (as hereinafter defined) and ending 180 days
after a Change of Control, the Executive’s employment with the Company is terminated by the Company (other than for death,
Total Disability or Cause) or by the resignation of the Executive for Good Reason, the Executive shall receive in cash, within
ten days of the date of termination or resignation of employment, an amount equal to two and one-half (2.5) times the sum of (i)
the annual Base Salary to which the Executive was entitled under Section 4.1 as of the date of termination or resignation of employment
plus (ii) the average cash bonus received by the Executive for the preceding three-year period ending on the last previous December
31st.

               In
the event that any payment (or portion thereof) to you under this Section 9.6(a) is determined to constitute an “excess
parachute payment” under Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended, the following calculations
shall be made:

	               	                                                      (i)         The
                                         after-tax value to the Executive of the payments under Section 9.6(a) without any reduction;
                                         and

                                                      (ii)        The
after-tax value to the Executive of the payments under Paragraph 9.6(a) as reduced to the maximum amount (the “Maximum
Amount”) which may be paid to the Executive without any portion of the payments constituting an ‘‘excess
parachute payment”.

               If
after applying the agreed upon calculations set forth above, it is determined that the after-tax value determined under clause
(ii) above is greater than the after-tax value determined under clause (i) above, the payments to you under Section 9.6(a) shall
be reduced to the Maximum Amount.

                                                      (b)          For
purposes of this Agreement, “Change of Control” shall mean:

                                                                     (i)         When
any “person” as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and as used in Section 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) of
the Exchange Act, but excluding the Company or any subsidiary or any affiliate of the Company or any employee benefit plan sponsored
or maintained by the Company or any subsidiary of the Company (including any trustee of such plan acting as trustee) becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of securities of the Company representing 30%
or more of the combined voting power of the Company’s then outstanding securities; or

                                                                     (ii)        When,
during any period of twelve consecutive months, the individuals who, at the beginning of such period, constitute the Board of
Directors (the “Incumbent Directors”) cease for any reason other than death to constitute at least a majority
thereof; provided, however, that a director who was not a director at the beginning of such twelve-month period shall be deemed
to have satisfied such twelve-month requirement (and be an Incumbent Director) if such director was elected by, or on the recommendation
of or with the approval of, at least a majority of the directors who then qualified as Incumbent Directors either actually (because
they were directors at the beginning of such twelve-month period) or through the operation of this proviso; or

    	6

    	 

    

                                                                     (iii)        The
occurrence of a transaction requiring stockholder approval for the acquisition of the Company by an entity other than the Company
or a subsidiary or an affiliate of the Company through purchase of assets, or by merger, or otherwise.

                                 9.7                Any
amount payable under this Agreement prior to the first date on which such payment is permitted under Section 409A of the Internal
Revenue Code of 1986, as amended, shall instead be paid at the earliest date on which such payment made be made in compliance
with Section 409A of the Internal Revenue Code of 1986, as amended.

               10.             COVENANT
NOT TO COMPETE

                                 10.1              (a)          The
Executive recognizes that the services to be performed by him hereunder are special, unique and extraordinary. The parties confirm
that it is reasonably necessary for the protection of the Company that the Executive agrees and, accordingly, the Executive does
hereby agree that, except as provided in Section 10.3, the Executive shall not, directly or indirectly, at any time during the
Restricted Period (as hereinafter defined) within the Restricted Area (as hereinafter defined), engage in any Competitive Business
(as hereinafter defined), either on his own behalf or as an officer, director, stockholder, partner, principal, trustee, investor,
consultant, associate, employee, owner, agent, creditor, independent contractor, co-venturer of any third party or in any other
relationship or capacity.

                                                      (b)          For
purposes of this Agreement, (i) “Restricted Period” shall mean (A) in the event of a termination of the Executive’s
employment by the Company for Cause or by the resignation of the Executive without Good Reason, the period of the Executive’s
actual employment hereunder plus six months after the date the Executive is no longer employed by the Company and (B) in the event
of a termination of the Executive’s employment by the Company due to the Executive’s Total Disability or without Cause
(including termination resulting from a Change of Control) or by the resignation of the Executive for Good Reason, the period
of the Executive’s actual employment hereunder; (ii) “Restricted Area” shall mean anywhere in the United
States; and (iii) “Competitive Business” shall mean the design, manufacture, sale, marketing or distribution
of (A) branded or designer footwear, apparel, accessories and other products in the categories of products sold by, or under license
from, the Company or any of its affiliates and (B) other branded products related to fashion or lifestyle; provided, however,
that the Executive’s service on the Board of Directors of Phillips-Van Heusen Corporation is not and shall not, for purposes
of this Agreement, be considered a Competitive Business.

                                 10.2              The
Executive hereby agrees that the Executive shall not, directly or indirectly, for or on behalf of himself or any third party,
at any time during the Restricted Period (i) solicit any customers of the Company or (ii) solicit, employ or engage, or cause,
encourage or authorize, directly or indirectly, to be employed or engaged, for or on behalf of himself or any third party, any
employee or agent of the Company or any of its subsidiaries.

                                 10.3              This
Section 10 shall not be construed to prevent the Executive from owning, directly or indirectly, in the aggregate, an amount not
exceeding one percent (1%) of the issued and outstanding voting securities of any class of any company whose voting capital stock
is traded on a national securities exchange or in the over-the-counter market.

    	7

    	 

    

                                 10.4              If
any of the restrictions contained in this Section 10 shall be deemed to be unenforceable by reason of the extent, duration or
geographical scope thereof, or otherwise, then the court making such determination shall have the right to reduce such extent,
duration, geographical scope, or other provisions hereof, and in its reduced form this Section 10 shall then be enforceable in
the manner contemplated hereby.

                                 10.5              The
provisions of this Section 10 shall survive the termination of the Executive’s employment as provided hereunder.

               11.             DiSCLOSURE
OF CONFIDENTIAL INFORMATION

                                                      The
Executive recognizes that he has had and will continue to have access to secret and confidential information regarding the Company,
including, but not limited to, its customer list, products, know-how and business plans. The Executive acknowledges that such
information is of great value to the Company, is the sole property of the Company, and has been and will be acquired by him in
confidence. In consideration of the obligations undertaken by the Company herein, the Executive will not, at any time, during
his employment hereunder and for a period of one year thereafter, reveal, divulge or make known to any person, any information
concerning the Company acquired by the Executive during the course of his employment that is treated as confidential by the Company;
provided, that such information is not otherwise in the public domain or information that the Executive could have and did learn
separate and apart from his duties as set forth herein; provided, further, that disclosure of said information would not be detrimental
to the Company.

               12.             INJUNCTIVE
RELIEF; REMEDIES

                                 12.1              The
Executive acknowledges and agrees that, in the event that the Executive shall violate or threaten to violate any of the restrictions
of Sections 10 or 11 hereof, the Company will be without an adequate remedy at law and will therefore be entitled to enforce such
restrictions by temporary or permanent injunctive or mandatory relief in any court of competent jurisdiction without the necessity
of proving damages or posting any bond or other security, and without prejudice to any other remedies that the Company may have
at law or in equity.

                                 12.2              The
Executive agrees further that the Company shall have the following additional rights and remedies:

                                                      (a)           to
recover all monies and other consideration derived or received by the Executive as the result of any transactions constituting
a breach of any of the provisions of Section 10.1, which the Executive hereby agrees to account for and pay over to the Company;
and

                                                      (b)          to
recover reasonable attorneys’ fees incurred in any action or proceeding in which it seeks to enforce its rights under Sections
10 or 11.

                                 12.3              Each
of the rights and remedies enumerated above shall be independent of the other, and shall be severally enforceable, and all of
such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under
law or in equity.

    	8

    	 

    

               13.             NO
RESTRICTIONS

                                 The
Executive hereby represents that neither the execution of this Agreement nor his performance hereunder will (i) violate, conflict
with or result in a breach of any provision of, or constitute a default (or an event which, with notice or lapse of time or both,
would constitute a default) under the terms, conditions or provisions of any contract, agreement or other instrument or obligation
to which the Executive is a party, or by which he may be bound, or (ii) violate any order, judgment, writ, injunction or decree
applicable to the Executive. In the event of a breach hereof, in addition to the Company’s right to terminate this Agreement,
the Executive shall indemnify the Company and hold it harmless from and against any and all claims, losses, liabilities, costs
and expenses (including reasonable attorneys’ fees) incurred or suffered in connection with or as a result of the Company’s
entering into this Agreement or employing the Executive hereunder.

               14.             ARBITRATION

                                 14.1              Except
with regard to any other matters that are not a proper subject of arbitration, all disputes between the parties hereto concerning
the performance, breach, construction or interpretation of this Agreement or any portion thereof, or in any manner arising out
of this Agreement or the performance thereof, shall be submitted to binding arbitration, in accordance with the rules of the American
Arbitration Association. The arbitration proceeding shall take place at a mutually agreeable location in New York County, New
York or such other location as agreed to by the parties.

                                 14.2              The
award rendered by the arbitrator shall be final, binding and conclusive, shall be specifically enforceable, and judgment may be
entered upon it in accordance with applicable law in the appropriate court in the State of New York, with no right of appeal therefrom.

                                 14.3              Each
party shall pay its or his own expenses of arbitration, and the expenses of the arbitrator and the arbitration proceeding shall
be equally shared.

               15.             ASSIGNMENT

                                 This
Agreement, as it relates to the employment of the Executive, is a personal contract and the rights and interests of the Executive
hereunder may not be sold, transferred, assigned, pledged or hypothecated.

               16.             NOTICES

                                 Any
notice required or permitted to be given pursuant to this Agreement shall be in writing and shall be deemed to have been duly
given when delivered by hand or sent by certified or registered mail, return receipt requested and postage prepaid, overnight
mail or courier or telecopier, addressed, if to the Company, to the Company’s principal offices, Attn: Chief Financial Officer,
and if to the Executive, at the address of the Executive’s personal residence as maintained in the Company’s records,
or at such other address as any party shall designate by notice to the other party given in accordance with this Section 16.

    	9

    	 

    

               17.             GOVERNING
LAW

                                 This
Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of New York without giving
effect to such State’s conflicts of laws provisions and each of the parties hereto irrevocably consents to the jurisdiction
and venue of the federal and state courts located in the State of New York, County of New York.

               18.             WAIVER
OF BREACH; PARTIAL INVALIDITY

                                 The
waiver by either party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent
breach. If any provision, or part thereof, of this Agreement shall be held to be invalid or unenforceable, such invalidity or
unenforceability shall attach only to such provision and not in any way affect or render invalid or unenforceable any other provisions
of this Agreement, and this Agreement shall be carried out as if such invalid or unenforceable provision, or part thereof, had
been reformed, and any court of competent jurisdiction or arbitrators, as the case may be, are authorized to so reform such invalid
or unenforceable provision, or part thereof, so that it would be valid, legal and enforceable to the fullest extent permitted
by applicable law.

               19.             ENTIRE
AGREEMENT

                                 This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and there are no representations,
warranties or commitments except as set forth herein. This Agreement supersedes all prior agreements, understandings, negotiations
and discussions, whether written or oral, of the parties hereto relating to the subject matter hereof. This Agreement may be amended,
and any provision hereof waived, only by a writing executed by the party sought to be charged.

               20.             COUNTERPARTS

                                 This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which taken together
shall constitute one and the same instrument.

               21.             FACSIMILE
OR ELECTRONIC MAIL SIGNATURES

                                 Signatures
hereon which are transmitted via facsimile or electronic mail shall be deemed original signatures.

               22.             REPRESENTATION
BY COUNSEL; INTERPRETATION

                                 The
Executive acknowledges that the Executive has been represented by counsel, or has been afforded the opportunity to be represented
by counsel, in connection with this Agreement. Accordingly, any rule or law or any legal decision that would require the interpretation
of any claimed ambiguities in this Agreement against the party that drafted it has no application and is expressly waived by the
Executive. The provisions of this Agreement shall be interpreted in a reasonable manner to give effect to the intent of the parties
hereto.

    	10

    	 

    

               23.             HEADINGS

                                 The
headings and captions under sections and paragraphs of this Agreement are for convenience of reference only and do not in any
way modify, interpret or construe the intent of the parties or affect any of the provisions of this Agreement.

               24.             CONSTRUCTION

                                 Whenever
the word “including” or any variant thereof is used herein, it shall mean “including without limitation.”

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

	 	 	 
	 	STEVEN MADDEN, LTD.
	 	 	 
	 	By: 	/s/ Awadhesh Sinha
	 	 	Awadhesh Sinha
	 	 	Chief Operating Officer
	 	 	 
	 	/s/ Edward R. Rosenfeld
	 	Edward R. Rosenfeld

    	11

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