Document:

Exhibit 10.1

 

AMENDMENT NO. 2 TO PROMISSORY NOTES

 

This Amendment No. 2 to Promissory Notes (this “Amendment”)
dated this 3rd day of July, 2019, by and among Hash Labs Inc., a Nevada corporation (the “Company”) and Lyle Hauser,
an individual (the “Holder”).

 

W I T N E S S E T H:

 

WHEREAS, the Holder is the holder of certain
outstanding promissory notes (collectively, the “Notes”) of the Company, consisting of (i) a promissory note, dated
on or about January 14, 2019, in the original principal amount of $70,384.32, as amended by amendment No. 1 thereto, dated April
9, 2019, and (ii) an original issue discount promissory note, dated on or about February 28, 2019, in the original principal amount
of $110,000, as amended by amendment No. 1 thereto, dated April 9, 2019;

 

WHEREAS, the Company and the Holder desire
to amend the Notes as more particularly set forth below;

 

WHEREFORE, the parties do hereby agree as
follows:

 

1. The maturity date
of each of the Notes is hereby amended to be September 30, 2019.

 

2. Except as modified
herein, the terms of the Notes shall remain in full force and effect.

 

3. This Amendment may
be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and shall be binding
upon all parties, their successors and assigns, and all of which taken together shall constitute one and the same Amendment. A
signature delivered by facsimile or email shall constitute an original.

 

[Signature Page Follows]

  

     

     

    

 

IN WITNESS WHEREOF, the parties have
executed this Amendment as of the date first written above.

 

	HASH LABS INC.	 
	 	 
	By: 	/s/ J. Mark Goode	 
	Name: 	 J. Mark Goode	 
	Title: 	Chief Executive Officer	 
	 	 
	/s/ Lyle Hauser	 
	Lyle HauserExhibit 10.2

 

AMENDMENT NO. 2 TO PROMISSORY NOTES

 

This Amendment No. 2 to Promissory Notes (this “Amendment”)
dated this 3rd day of July, 2019, by and among Hash Labs Inc., a Nevada corporation (the “Company”) and The Vantage
Group Ltd., a Delaware corporation (the “Holder”).

 

W I T N E S S E T H:

 

WHEREAS, the Holder is the holder of certain
outstanding promissory notes (collectively, the “Notes”) of the Company, consisting of (i) a promissory note, dated
on or about January 14, 2019, in the original principal amount of $17,780.25, as amended by amendment No. 1 thereto, dated April
9, 2019, and (ii) a promissory note, issued on or about July 15, 2016, in the original principal amount of $100,000, as amended
by amendment No. 1 thereto, dated April 9, 2019;

 

WHEREAS, the Company and the Holder desire
to amend the Notes as more particularly set forth below;

 

WHEREFORE, the parties do hereby agree as
follows:

 

1. The maturity date
of each of the Notes is hereby amended to be September 30, 2019.

 

2. Except as modified
herein, the terms of the Notes shall remain in full force and effect.

 

3. This Amendment may
be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and shall be binding
upon all parties, their successors and assigns, and all of which taken together shall constitute one and the same Amendment. A
signature delivered by facsimile or email shall constitute an original.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties have
executed this Amendment as of the date first written above.

 

HASH LABS INC.

 

	By:	/s/ J. Mark Goode	 
	Name:	 J. Mark Goode
	Title:	Chief Executive Officer

 

THE VANTAGE GROUP LTD.

 

	By:	/s/ Lyle Hauser	    
	Name:	Lyle Hauser
	Title:	Chief Executive OfficerExhibit 4.2 

Newgioco
Group, Inc.

Stock
Option Grant Notice

(2018 Equity Incentive Plan)

Newgioco Group, Inc. (the “Company”),
pursuant to its 2018 Equity Incentive Plan (the “Plan”), has granted to you (“Optionholder”)
an option to purchase the number of shares of the Common Stock set forth below (the “Option”). Your Option
is subject to all of the terms and conditions as set forth herein and in the Plan, and the Stock Option Agreement and the Notice
of Exercise, all of which are attached hereto and incorporated herein in their entirety. Capitalized terms not explicitly defined
herein but defined in the Plan or the Stock Option Agreement shall have the meanings set forth in the Plan or the Stock Option
Agreement, as applicable.

	Optionholder:	
 

	Date of Grant:	
 

	Vesting Commencement Date:	
 

	Number of Shares of Common Stock Subject to Option:	
 

	Exercise Price (Per Share):	
 

	Total Exercise Price:	
 

	Expiration Date:	
 

Type of Grant:[Incentive
Stock Option] OR [Nonstatutory Stock Option]

Exercise
and 

Vesting
Schedule: Subject to the Optionholder’s Continuous Service through each applicable vesting date, the Option will
vest as follows:

 

 

Optionholder Acknowledgements: By
your signature below or by electronic acceptance or authentication in a form authorized by the Company, you understand and agree
that:

	The Option is governed by this Stock Option Grant Notice, and the provisions of the
Plan and the Stock Option Agreement and the Notice of Exercise, all of which are made a part of this document. Unless otherwise
provided in the Plan, this Grant Notice and the Stock Option Agreement (together, the “Option Agreement”)
may not be modified, amended or revised except in a writing signed by you and a duly authorized officer of the Company.
	If the Option is an Incentive Stock Option, it (plus other outstanding Incentive Stock
Options granted to you) cannot be first exercisable for more than $100,000 in value (measured by exercise price) in any
calendar year. Any excess over $100,000 is a Nonstatutory Stock Option.
	You consent to receive this Grant Notice, the Stock Option Agreement, the Plan, the
Prospectus and any other Plan-related documents by electronic delivery and to participate in the Plan through an on-line or electronic
system established and maintained by the Company or another third party designated by the Company.
	You have read and are familiar with the provisions of the Plan, the Stock Option Agreement,
the Notice of Exercise and the Prospectus. In the event of any conflict between the provisions in this Grant Notice, the Option
Agreement, the Notice of Exercise, or the Prospectus and the terms of the Plan, the terms of the Plan shall control.
	The Option Agreement sets forth the entire understanding between you and the Company
regarding the acquisition of Common Stock and supersedes all prior oral and written agreements, promises and/or representations
on that subject with the exception of other equity awards previously granted to you and any written employment agreement, offer
letter, severance agreement, written severance plan or policy, or other written agreement between the Company and you in each case
that specifies the terms that should govern this Option.
	Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other
transmission method and any counterpart so delivered will be deemed to have been duly and validly delivered and be valid and effective
for all purposes.

    

    

    

 

	
        Newgioco
        Group, Inc.

        By:

        Signature

        Title:

        Date:
	
        Optionholder:

         

        Signature

        Date:

Attachments:
Stock Option Agreement, 2018 Equity Incentive Plan, Notice of Exercise

    	 

    	 

    

Newgioco
Group, Inc.

2018
Equity Incentive Plan

Stock
Option Agreement 

As reflected by
your Stock Option Grant Notice (“Grant Notice”) Newgioco Group, Inc. (the “Company”)
has granted you an option under its 2018 Equity Incentive Plan (the “Plan”) to purchase a number of shares
of Common Stock at the exercise price indicated in your Grant Notice (the “Option”). Capitalized terms
not explicitly defined in this Agreement but defined in the Grant Notice or the Plan shall have the meanings set forth in the Grant
Notice or Plan, as applicable. The terms of your Option as specified in the Grant Notice and this Stock Option Agreement constitute
your Option Agreement.

The general terms
and conditions applicable to your Option are as follows:

Governing
Plan Document. Your Option is subject to all the provisions of the Plan. Your Option is further subject to all interpretations,
amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In the event of
any conflict between the Option Agreement and the provisions of the Plan, the provisions of the Plan shall control.

1.                 
Exercise.

(a)              
You may generally exercise the vested portion of your Option for whole shares of Common
Stock at any time during its term by delivery of payment of the exercise price and applicable withholding taxes and other required
documentation to the person designated by the Company to administer the Plan (the “Plan Administrator”) in accordance
with the exercise procedures established by the Plan Administrator, which may include an electronic submission. Please review Sections
6(f) of the Plan, which may restrict or prohibit your ability to exercise your Option during certain periods.

(b)             
To the extent permitted by any applicable securities, federal, state, foreign, material
local or municipal or other law, you may pay your Option exercise price as follows:

(i)                
cash, check, bank draft or money order; 

(ii)             
subject to Company and/or Committee consent at the time of exercise, pursuant to a “cashless
exercise” program if at the time of exercise the Common Stock is publicly traded;

(iii)           
subject to Company and/or Committee consent at the time of exercise, by delivery of previously
owned shares of Common Stock as further described in Section 7(b) of the Plan; or

(iv)            
by a “net exercise” arrangement as further described in Section 7(d) of the
Plan.

2.                 
Term. You may not exercise
your Option before the commencement of its term or after its term expires. The term of your option commences on the Date of Grant
and expires upon the earliest of the following:

(a)              
immediately upon the termination of your Service for Cause;

(b)             
three months after the termination of your Service for any reason other than Cause, Disability
or death;

(c)              
6 months after the termination of your Service due to your Disability;

(d)             
6 months after your death if you die during your Service;

(e)              
immediately upon a Corporate Transaction if the Board has determined that the Option will
terminate in connection with a Corporate Transaction,

    

    

    

(f)               
the Expiration Date indicated in your Grant Notice; or

(g)              
the day before the 10th anniversary of the Date of Grant.

Notwithstanding
the foregoing, if you die during the period provided in Section 3(b) or 3(c) above, the term of your Option shall not expire until
the earlier of (i) eighteen months after your death, (ii) upon any termination of the Option in connection with a Change in Control,
(iii) the Expiration Date indicated in your Grant Notice, or (iv) the day before the tenth anniversary of the Date of Grant.

To obtain the federal
income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the date of grant
of your Option and ending on the day three months before the date of your Option’s exercise, you must be an employee of the
Company or an Affiliate, except in the event of your death or Disability. If the Company provides for the extended exercisability
of your Option under certain circumstances for your benefit, your Option will not necessarily be treated as an Incentive Stock
Option if you exercise your Option more than three months after the date your employment terminates.

3.                 
Withholding Obligations. As
further provided in Section 14 of the Plan: (a) you may not exercise your Option unless the applicable tax withholding obligations
are satisfied, and (b) at the time you exercise your Option, in whole or in part, or at any time thereafter as requested by the
Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate
provision for (including by means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated
by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and
foreign tax withholding obligations, if any, which arise in connection with the exercise of your Option in accordance with the
withholding procedures established by the Company. Accordingly, you may not be able to exercise your Option even though the Option
is vested, and the Company shall have no obligation to issue shares of Common Stock subject to your Option, unless and until such
obligations are satisfied. In the event that the amount of the Company’s withholding obligation in connection with your Option
was greater than the amount actually withheld by the Company, you agree to indemnify and hold the Company harmless from any failure
by the Company to withhold the proper amount.

4.                 
Incentive Stock Option Disposition Requirement. If
your option is an Incentive Stock Option, you must notify the Company in writing within 15 days after the date of any disposition
of any of the shares of the Common Stock issued upon exercise of your option that occurs within two years after the date of your
option grant or within one year after such shares of Common Stock are transferred upon exercise of your option.

5.                 
Transferability. Except
as otherwise provided in Section 6(f) of the Plan, your Option is not transferable, except by will or by the applicable laws of
descent and distribution, and is exercisable during your life only by you. 

6.                 
Change In control. Your
Option is subject to the terms of any agreement governing a Change in Control involving the Company, including, without limitation,
a provision for the appointment of a stockholder representative that is authorized to act on your behalf with respect to any escrow,
indemnities and any contingent consideration.

7.                 
No Liability for Taxes.
As a condition to accepting the Option, you hereby (a) agree to not make any claim against the Company, or any of its Officers,
Directors, Employees or Affiliates related to tax liabilities arising from the Option or other Company compensation and (b) acknowledge
that you were advised to consult with your own personal tax, financial and other legal advisors regarding the tax consequences
of the Option and have either done so or knowingly and voluntarily declined to do so. Additionally, you acknowledge that the Option
is exempt from Section 409A only if the exercise price is at least equal to the “fair market value” of the Common Stock
on the date of grant as determined by the Internal Revenue Service and there is no other impermissible deferral of compensation
associated with the Option. Additionally, as a condition to accepting the Option, you agree not make any claim against the Company,
or any of its Officers, Directors, Employees or Affiliates in the event that the Internal Revenue Service asserts that such exercise
is less than the “fair market value” of the Common Stock on the date of grant as subsequently determined by the Internal
Revenue Service.

8.                 
Severability.
If any part of this Option Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid,
such unlawfulness or invalidity will not invalidate any portion of this Option Agreement or the Plan not declared to be unlawful
or invalid.  Any Section of this Option Agreement (or part of such a Section) so declared to be unlawful or invalid will,
if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent
possible while remaining lawful and valid

    

    

    

9.                 
Other Documents.  You
hereby acknowledge receipt of or the right to receive a document providing the information required by Rule 428(b)(1) promulgated
under the Securities Act, which includes the Prospectus.  In addition, you acknowledge receipt of the Company’s
Trading Policy.

10.             
Questions.  If you have
questions regarding these or any other terms and conditions applicable to your Option, including a summary of the applicable federal
income tax consequences please see the Prospectus.

* * * *

    	 

    	 

    

 

Newgioco
Group, Inc.

2018
Equity Incentive Plan

NOTICE OF OPTION EXERCISE

Newgioco Group, Inc.

130 Adelaide Street West, Suite 701

Toronto, Ontario M5H 2K4, Canada

 

Date of Exercise:

 

This constitutes
notice to Newgioco Group, Inc. (the “Company”) that I elect to purchase the below number of shares of
Common Stock of the Company (the “Shares”) by exercising my Option for the price set forth below.
Capitalized terms not explicitly defined in this Notice of Exercise but defined in the Grant Notice, Option Agreement or 2018 Equity
Incentive Plan (the “Plan”) shall have the meanings set forth in the Grant Notice, Option Agreement or
Plan, as applicable. Use of certain payment methods is subject to Company and/or Committee consent and certain additional requirements
set forth in the Option Agreement and the Plan.

	Type of option (check one):	 	Incentive   ̈	Nonstatutory   ̈
	Date of Grant:	 	_______________	 
	Number of Shares as

to which Option is

exercised:	 	_______________	 
	Certificates to be

issued in name of:	 	_______________	 
	Total exercise price:	 	$______________	 
	Cash, check, bank draft or money order delivered herewith:	 	$______________	 
	Value of ________ Shares delivered herewith:	 	$______________	 
	Regulation T Program (cashless exercise)	 	$_____________	 
	Value of _______ Shares pursuant to net exercise:	 	$_____________	 
	 	 	 	 

By this exercise,
I agree (i) to provide such additional documents as you may require pursuant to the terms of the Plan, (ii) to satisfy
the tax withholding obligations, if any, relating to the exercise of this Option as set forth in the Option Agreement, and (iii) if
this exercise relates to an incentive stock option, to notify you in writing within 15 days after the date of any disposition
of any of the Shares issued upon exercise of this Option that occurs within two years after the Date of Grant or within one year
after such Shares are issued upon exercise of this Option. 

Very truly yours, 

Signature 

 

 

Printed Name

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