Document:

Exhibit 10.4.2

 

Second Supplement
to Founders Agreement

 

Reference is made
to that certain Amended and Restated Founders Agreement (“Founders Agreement”) dated as of July 1, 2021 by and between
Sports Industry of India Inc., a Delaware corporation, EIN # 81-3957667 (“SII”) and Mobile Global Esports
Inc., a Delaware corporation (“MOGO”), as supplemented by that certain Supplement to Founders Agreement (the “First
Supplement”) made as of the 15th day of October, 2021, by and among SII, MOGO, EliteUniversal
Sports Alliance India Private Limited, a company duly incorporated under the laws of India having corporate identity number U92490PN2016PTC166347
(“EUSAI”), and ESI Sports India Private Limited, a company duly incorporated under the laws of India having
corporate identity number U92419PN2016PTC167779 (“ESI”) (hereinafter SII, EUSAI, and ESI are collectively referred
to as “Licensor”).

 

This Second Supplement
to Founders Agreement (the “Second Supplement”) is made as of this 14th day of
January, 2022, by and among Licensor and MOGO. Licensor and MOGO are hereinafter each referred to as a “Party” and
referred to collectively as the “Parties.” The Founders Agreement and First Supplement, as supplemented by this Second
Supplement, is collectively referred to herein as the “Agreement.” Except as expressly set forth herein, terms defined
in the Founders Agreement have the same meanings when used in this Second Supplement.

 

Whereas for
clarity, the First Supplement was entered into by each of SII, MOGO, EUSAI and ESI.

 

Whereas the
purpose of this Second Supplement is to set forth the results of a further negotiation between the Parties undertaken pursuant to Section
3.4 of the Founders Agreement pertaining to certain scheduled events, as described herein;

 

Now, Therefore
the Parties hereby agree on the foregoing recitals and further agree as follows:

 

1. Certain
Definitions: Except as expressly set forth herein, the terms defined in the First Supplement, including any terms therein incorporated
therein from the Founders Agreement, have the same meanings when used in this Second Supplement.

 

 2. Certain Licensor Rights:

 

2.1. Pursuant
to certain of its agreements with Participating Universities, Licensor has the first right to act as manager and agent for any Athlete
who contemplates becoming a professional athlete in any sport and anywhere in the world, or to designate a Person to undertake such activities
(Licensor’s “Management Rights”). Generally, when Licensor has such rights, the Athlete is obligated to negotiate
in good faith exclusively with Licensor or its designee prior to discussing or negotiating with any third Person. If, after thirty (30)
days, the Athlete and Licensor or its designee do not reach an agreement, the Athlete may solicit offers from third Persons, but Athlete
may not accept an offer unless Athlete first sends a copy to Licensor and Licensor does not accept replacing the third Person on the terms
in that offer within ten (10) days.

 

2.2. Licensor
shall endeavor to obtain the Management Rights from Participating Universities and Athletes.

 

2.3. Licensor
will not be in breach of this Agreement if Licensor is unable to obtain the Management Rights, or if Participating Universities or Athletes
breach obligations pertaining thereto, or if by reason of negligence, or otherwise, Licensor fails to timely exercise such rights.

 

 3. Cooperation with MOGO:

 

3.1. That
portion of the Management Rights pertaining to esports is herein referred to as the “Esports Management Rights.”

 

3.2. “Management
Agreement” means an agreement between MOGO and either Licensor or an Athlete by which MOGO exercises Esports Management Rights
as esports agent and/or esports manager for an Athlete who is introduced to MOGO pursuant to this Agreement.

 

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3.3. Provided
MOGO is not in breach or default of this Agreement and is actively engaged in esports business, during the Management Term, Licensor shall
cooperate with MOGO in the exercise of the process by which Licensor may obtain Management Rights, with the intention during the Management
Term, Licensor shall either sub-contract or assign to MOGO the Esports Management Rights for those Athletes for whom Licensor obtains
Management Rights so that MOGO may enter into a Management Agreement to exercise said Esports Management Rights. In each instance, Licensor
shall determine whether MOGO shall enter into a Management Agreement with Licensor as Licensor’s sub-contractor, or enter into a
Management Agreement directly with an Athlete. Licensor shall have the right to approve of each Management Agreement entered into by MOGO.
The Parties shall endeavor to facilitate the approval by mutually agreeing upon a basic template. The Parties acknowledge that if Licensor
does not exercise its right to acquire Management Rights other than Esports Management Rights, certain Athletes may decline to permit
Licensor or MOGO to exercise only Esports Management Rights.

 

3.4. “Management
Term” means the period from the date hereof and expiring on the first to occur of: (i) December 31, 2025, or (ii) the termination
or expiration of the Term pursuant to the First Supplement., provided that upon mutual agreement of the Parties, the Management Term may
be extended.

 

3.5. As
to any Athlete for whom MOGO enters into a Management Agreement, as between Licensor and MOGO, MOGO’s rights will continue until
the second to occur of seven (7) years after the commencement of the Management Agreement with or for that Athlete, or until the end of
the Management Term. For clarity, the Management Agreement with or for a particular Athlete might have a shorter term to the extent required
by the Athlete. MOGO will not terminate a Management Agreement without the prior consent of SII.

 

3.6. MOGO
shall not seek to obtain Management Agreements with Athletes introduced to MOGO pursuant to this Agreement, other than in accordance with
this Second Supplement.

 

3.7. For
any Athlete for whom MOGO has a Management Agreement and for whom Licensor or its designee also exercises Management Rights, the Parties
shall cooperate to avoid conflicts.

 

3.8. For
any Management Agreement entered into by MOGO directly with an Athlete pursuant to this Second Supplement, MOGO will pay to SII a referral
fee of fifteen percent (15%) of its Net Revenues from its exercise of Esports Management Services for that Athlete, For any Management
Agreement entered into by MOGO with Licensor, SII will pay to MOGO a services fee of eighty percent (80%) of its Net Revenues derived
from MOGO’s Esports Management Services for the relevant Athlete. Payments will be computed, accounted for and paid in the same
manner described in Section 10 of the First Supplement.

 

3.9. “Net
Revenues” means gross commissions, fees, royalties or participations derived from MOGO’s exercise of Esports Management
Rights, excluding: (i) any portion thereof paid to the Athlete, (ii) rebates, refunds, discounts and monies held as deposits and subject
to refunds; (iii) sales tax, VAT or equivalent; (iv) credit card fees, PayPal fees and the like; and (v) import or export duties, fees,
costs or expenses and costs of currency conversion and transfer. Such payments will be computed, accounted for and paid in the same manner
described in Section 10 of the First Supplement.

 

3.10. As
between the Parties, MOGO is responsible for all costs and expenses of exercising Esports Management Rights pursuant to Management Agreements.

 

4.
Certain Representations: Each Party represents and warrants to the other: that: (i) it has the right, power and authority to
enter into and perform this Second Supplement and to consummate the transactions contemplated hereby without obtaining the consent
or approval of any third Person; (ii) it has not made and will not make any commitments or granted any rights in conflict with this
Second Supplement; (iii) neither the execution of this Second Supplement nor the performance of the Party’s obligations under
this Second Supplement will violate any contract, agreement or Rule to which such Party is subject; (iv) this Second Supplement has
been duly and validly executed and delivered by that Party and constitutes a valid and binding agreement of that Party, enforceable
against that Party in accordance with its terms; and (v) any contributions made by such Party or anyone on its behalf to the Project
will not violate the rights of any Person. Neither Party represents or warrants to the other that the Project will be
successful.

 

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5. Incorporation. All provisions of the Founders Agreement and First Supplement remain in full
force and effect and shall pertain to this Second Supplement. Without limitation: (i) Sections 14 (Law and Corrupt Practices), 16 (Indemnification,
17 (Dispute Resolution), 19 (Clarification Regarding Groups), 20 (Authority; Subsidiaries), 21 (Limitation of Liability), 21 (No Injunction)
of the First Supplement are hereby incorporated into this Second Supplement as though set forth herein in full, provided each reference
in the First Supplement to “Supplement” when used in this Second Supplement means this Second Supplement; and (ii) Sections
10 (Liability and Release), 11 (Law and Corrupt Practices) and 13 (General Provisions) of the Founders Agreement are hereby incorporated
into this Supplement as though set forth herein in full, provided each reference in the Founders Agreement to “Agreement”
or to “Parties” when used in this Second Supplement means this Second Supplement and the Parties to this Second Supplement.

 

6. Entire
Agreement: This Second Supplement constitutes the complete and entire agreement and understanding of the Parties with respect to the
subject matter hereof and supersedes and merges all prior and contemporaneous agreements, dealings, negotiations, promises, representations
and communications regarding its subject matter (whether written or oral), between the Parties relating to the subject matter hereof,
other than the other agreements referenced herein. There are no representations, warranties or other agreements between the Parties (whether
express or implied) in connection with the subject matter of this Second Supplement, except as specifically set forth herein or in the
Founders Agreement. This Second Supplement may not be modified, amended or waived, except by a writing executed by the Responsible Officers
for all Parties, provided that if a Responsible Officer for SII executes any modification, amendment or waiver, such modification, amendment
or waiver shall be binding on Licensor and if a Responsible Officer for MOGO executes any modification, amendment or waiver, such modification,
amendment or waiver shall be binding on MOGO Group.

 

7. Counterparts:
This Second Supplement may be executed in several counterparts and all counterparts so executed shall constitute one agreement that
is binding on both Parties. Electronic transmission of documents in portable document format (PDF) shall be acceptable as if original
signatures had been exchanged. Execution by DocuSign is disfavored.

 

[Signatures on Next
Page]

 

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IN
WITNESS WHEREOF, the Parties have executed and entered into this Supplement by their duly authorized representatives as of the date
first written above.

 

	EliteUniversal Sports Alliance India Private
  Limited:	 	ESI Sports India Private Limited:
	 	 	 	 	 	 	 
	By: 	 	 	By:	 
		Name:	Sunny Bhandarkar	 		Name:	Sunny Bhandarkar
		Title:	Chief Executive Officer	 		Title:	Chief Executive Officer
	 	 	 	 	 	 	 
	Responsible Officers: Richard Whelan, Sunny
  Bhandarkar	 	Responsible Officers: Richard Whelan, Sunny
    Bhandarkar
	 	 	 	 	 	 	 
	Email:	 	Rich@efli.com	 	Email:	 	Rich@efli.com
	 	 	isunnybhandarkar@gmail.com	 	 	 	isunnybhandarkar@gmail.com
	 	 	 	 	 	 	 
	Copies:	 	kspivak@SMImanagement.com; dpross@esindia.com	 	Copies:	 	kspivak@SMImanagement.com; dpross@esindia.com
	 	 	 	 	 	 	 
	Flat No. 24,
  SN. 43/5, Warje Malwadi, BI-A, Nr. Ganesh Matha Mandir, Pune, Maharashtra, India, 411029; Attention: Sunny Bhandarkar	 	Flat No. 24,
    SN. 43/5, Warje Malwadi, BI-A, Nr. Ganesh Matha Mandir, Pune, Maharashtra, India, 411029: Attention: Sunny Bhandarkar
	 	 	 	 	 	 	 
	Sports Industry of India Inc.:	 	Mobile Global Esports Inc.:
	 	 	 	 	 	 	 
	By:	              	 	By:	/s/ David Pross
		Name: 	Richard Whelan	 		Name: 	David Pross
		Title:	Chief Executive Officer	 		Title:	CEO
	 	 	 	 	 	 	 
	Responsible Officer: Richard Whelan	 	Responsible Officer: David Pross
	Email:	 	Rich@efli.com	 	Email:	dpross@mogoesports.com
	 	 	 	 	 	 	 
	Copies:	 	kspivak@SMImanagement.com; dpross@esindia.com	 	Copies:	 	kspivak@SMImanagement.com; richardcwhelan@gmail.com
	 	 	 	 	 	 	 
	616 S. El Camino Real, Suite H,
  San Clemente, CA 92672	 	616 S. El Camino Real, Suite
    H, San Clemente, CA 92672

 

 

Page 4 of 4Exhibit
10.4.3

 

Third
Supplement to Founders Agreement

 

Reference
is made to that certain Amended and Restated Founders Agreement (“Founders Agreement”) dated as of July 1, 2021 by
and between Sports Industry of India Inc., a Delaware corporation, EIN # 81-3957667 (“SII”) and Mobile Global
Esports Inc., a Delaware corporation (“MOGO”), as supplemented by that certain Supplement to Founders Agreement
(the “First Supplement”) made as of the 15th day of October, 2021, by and among SII, MOGO, EliteUniversal Sports
Alliance India Private Limited, a company duly incorporated under the laws of India having corporate identity number U92490PN2016PTC166347
(“EUSAI”), and ESI Sports India Private Limited, a company duly incorporated under the laws of India having
corporate identity number U92419PN2016PTC167779 (“ESI”) (hereinafter SII, EUSAI, and ESI are collectively referred
to as “Licensor”), as supplemented by that certain Second Supplement to Founders Agreement (the “Second Supplement”)
made as of this 14th day of January, 2022, by and among Licensor and MOGO.

 

This
Third Supplement to Founders Agreement (the “Third Supplement”) is made as of this 24th day of February, 2022, by
and among Licensor and MOGO. Licensor and MOGO are hereinafter each referred to as a “Party” and referred to collectively
as the “Parties.” The Founders Agreement, First Supplement and Second Supplement, as supplemented by this Third Supplement,
is collectively referred to herein as the “Agreement.”

 

Whereas
the purpose of this Third Supplement is to set forth the results of a further negotiation between the Parties undertaken pursuant
to Section 3.4 of the Founders Agreement;

 

Now,
Therefore the Parties hereby agree on the foregoing recitals and further agree as follows:

 

1. Certain Definitions:

 

1.1. Except
as expressly set forth herein, the terms defined in the First Supplement and Second Supplement, including any terms therein
incorporated therein from the Founders Agreement, have the same meanings when used in this Third Supplement.

 

 1.2. For purposes of the Agreement, references to “MOGO Group” mean MOGO and its subsidiaries.

 

2. Term: Sections 10.1 and 10.2 of the First Supplement are hereby deleted and replaced by the following:

 

“10.1
Basic Term. The Term of the Project will commence on September 1, 2021 and will continue until December 31, 2026, provided that if
MOGO completes a public offering during 2022, the Term will continue until the date seven (7) years after MOGO’s shares start publicly
trading following the public offering.

 

“10.2
Potential Extension and Termination. If MOGO secures funding of at least $5,000,000 by the end of 2022 and is not in breach of this
Agreement, at the option of either Party, to be exercised no later than March 30, 2023, the Term will continue until December 31, 2032.
In any event: (i) commencing not later than one (1) year before expiration of the Term, the Parties will in good faith negotiate for
a potential extension of the Term prior to negotiating for similar rights with third Persons; (ii) the Term may be terminated by mutual
agreement of the Parties; and (iii) the Term may be terminated by either Party on prior Notice of thirty (30) days if the other Party
breaches a material provision of this Agreement and fails to cure that breach within ninety (90) days after receipt of a cure Notice
that describes the breach in reasonable detail.”

 

3.
Potential Additional Collaborations: Provided MOGO is not in uncured Material Breach and is meeting its funding obligations,
during the Term, if Licensor seeks to undertake Games anywhere in the world, other than Pakistan, with Schools that are not part of
the Project, for a period of thirty (30) days, Licensor will negotiate with MOGO to provide substantially the same services with
respect thereto as MOGO provides for the Project on substantially the same terms and conditions that apply to the Project, provided
that all accountings shall be separate from, and not cross-collateralized with, the Project, prior to negotiating with third Persons
with respect thereto.. The foregoing obligation shall not apply: (i) unless MOGO is financially capable of performing the required
services, or (ii) with respect to Games or Schools for which an investor or other third Person whose contribution to the proposed Games
is material requires the participation of another esports company as a condition of that investor’s or third Person’s participation.

 

    Page 1 of 3

     

    

 

4.
Performance of Rights and Obligations. Except where specifically prohibited in the Agreement, each Party has the right to
undertake one or more of its rights and to perform one or more of its obligations through one or more subsidiaries.

 

5.
Incorporation. All provisions of the Founders Agreement, First Supplement and Second Supplement remain in full force. Without
limitation: (i) Sections 14 (Law and Corrupt Practices), 16 (Indemnification, 17 (Dispute Resolution), 19 (Clarification Regarding
Groups), 20 (Authority; Subsidiaries), 21 (Limitation of Liability), 21 (No Injunction) of the First Supplement are hereby
incorporated into this Third Supplement as though set forth herein in full, provided each reference in the First Supplement to
“Supplement” when used in this Third Supplement means this Third Supplement; and (ii) Sections 10 (Liability and
Release), 11 (Law and Corrupt Practices) and 13 (General Provisions) of the Founders Agreement are hereby incorporated into this
Supplement as though set forth herein in full, provided each reference in the Founders Agreement to “Agreement” or to
“Parties” when used in this Third Supplement means this Third Supplement and the Parties to this Third
Supplement.

 

6.
Entire Agreement: This Third Supplement constitutes the complete and entire agreement and understanding of the Parties with
respect to the subject matter hereof and supersedes and merges all prior and contemporaneous agreements, dealings, negotiations,
promises, representations and communications regarding its subject matter (whether written or oral), between the Parties relating to
the subject matter hereof, other than the other agreements referenced herein. There are no representations, warranties or other
agreements between the Parties (whether express or implied) in connection with the subject matter of this Third Supplement, except
as specifically set forth herein or in the Founders Agreement. This Third Supplement may not be modified, amended or waived, except
by a writing executed by the Responsible Officers for all Parties, provided that if a Responsible Officer for SII executes any
modification, amendment or waiver, such modification, amendment or waiver shall be binding on Licensor and if a Responsible Officer
for MOGO executes any modification, amendment or waiver, such modification, amendment or waiver shall be binding on MOGO
Group.

 

7.
Counterparts: This Third Supplement may be executed in several counterparts and all counterparts so executed shall constitute
one agreement that is binding on both Parties. Electronic transmission of documents in portable document format (PDF) shall be
acceptable as if original signatures had been exchanged. Execution by DocuSign is disfavored.

 

[Signatures
on Next Page]

 

    Page 2 of 3

     

    

 

IN
WITNESS WHEREOF, the Parties have executed and entered into this Supplement by their duly authorized representatives as of the date
first written above.

 

	EliteUniversal
  Sports Alliance India Private Limited:	 	ESI Sports India Private Limited:
	 	 	 	 	 	 	 
	By:	/s/ Sunny Bhandarkar	 	By:	/s/ Sunny Bhandarkar
	 	Name: Sunny Bhandarkar	 		Name: Sunny Bhandarkar
	 	Title:   Chief Executive Officer	 		Title:   Chief Executive Officer
	 	 	 	 	 	 	 
	Responsible Officers: Richard Whelan, Sunny Bhandarkar	 	Responsible
    Officers: Richard Whelan, Sunny Bhandarkar
	 	 	 	 	 	 	 
	Email:	Rich@efli.com	 	Email:	Rich@efli.com
	 	isunnybhandarkar@gmail.com	 	 	isunnybhandarkar@gmail.com
	 	 	 	 	 	 
	Copies: 	kspivak@SMImanagement.com; dpross@esindia.com	 	Copies: 	kspivak@SMImanagement.com; dpross@esindia.com
	Flat No. 24, SN. 43/5, Warje Malwadi, BI-A, Nr. Ganesh Matha Mandir, Pune, Maharashtra, India, 411029; Attention: Sunny Bhandarkar	 	Flat No. 24, SN. 43/5, Warje Malwadi, BI-A,
    Nr. Ganesh Matha Mandir, Pune, Maharashtra, India, 411029: Attention: Sunny Bhandarkar
	 	 	 	 	 	 	
	Sports Industry of India Inc.:	 	 	Mobile Global Esports Inc.:

	 	 	 	 	 	 	 
	By:	/s/ Richard Whelan	 	By:	/s/ David
    Pross
		Name: Richard Whelan	 		Name: David
    Pross
	 	Title:   Chief Executive Officer	 		Title:   CEO
	 	 	 	 	 	 	 
	Responsible Officer: Richard Whelan	 	Responsible Officer: David Pross
	 	 	 	 	 	 	 
	Email:	Rich@efli.com	 	 	Email:	dpross@mogoesports.com
	 	 	 	 	 	 	 
	Copies:	kspivak@SMImanagement.com;

 dpross@esindia.com	 	Copies:	kspivak@SMImanagement.com;

 richardcwhelan@gmail.com
	616 S. El Camino Real, Suite H, San Clemente, CA 92672	 	616 S. El Camino Real, Suite H, San Clemente, CA 92672

 

 

Page 3 of 3

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