Document:

EX-4.2

 Exhibit 4.2 

 
  

 
 REGISTRATION RIGHTS AGREEMENT 

BY AND AMONG 
 MSG ENTERTAINMENT
SPINCO, INC. 
 (TO BE RENAMED MADISON SQUARE GARDEN ENTERTAINMENT CORP.) 

AND 
 THE DOLAN FAMILY AFFILIATES

  
  

 

 REGISTRATION RIGHTS AGREEMENT 

Registration Rights Agreement (this “Agreement”) dated as of [•], 2020 (but effective as provided in Section 9(k)),
by and among MSG Entertainment Spinco, Inc. (to be renamed Madison Square Garden Entertainment Corp.), a Delaware corporation (the “Company”), the parties set forth on Annex A to this Agreement (the “Dolan Family
Affiliates”) and the Qualifying Creditors, if any, who have agreed in writing to become bound by this Agreement. Certain capitalized terms used in this Agreement are defined in Annex B hereto. 

WITNESSETH: 
 WHEREAS, as
of the date of this Agreement, the Dolan Family Affiliates own shares of Class B Common Stock of MSG, par value $.01 per share (“MSG Class B Common Stock”), and shares of Class A Common Stock of MSG, par
value $.01 per share (“MSG Class A Common Stock”); 
 WHEREAS, the Dolan Family Affiliates are party to
a Registration Rights Agreement, dated as of September 15, 2015, by and among MSG and the Dolan Family Affiliates, and the Dolan Family Affiliates have certain registration rights under that agreement with respect to shares of MSG Class A
Common Stock; 
 WHEREAS, MSG intends to distribute all of the outstanding shares of common stock of the Company to the holders of MSG
common stock (the “Distribution”). The Distribution will take the form of a distribution of shares of the Company’s Class A Common Stock, $.01 par value (the “Class A Common Stock”) to
the holders of MSG Class A Common Stock and shares of the Company’s Class B Common Stock, $.01 par value (the “Class B Common Stock”) to the holders of MSG Class B Common Stock; and 

 WHEREAS, the Company and the Dolan Family Affiliates wish to provide for benefits and
restrictions applicable to the Shares owned by the Dolan Family Holders following the Distribution, all as provided herein. 
 NOW,
THEREFORE, in consideration of the premises and the mutual agreements contained herein, the parties hereby agree as follows: 
 1. Demand
Registration by the Dolan Family Parties of the Shares. 
 (a) Demand Registration. One or more of the Dolan Family Parties may
request in writing, with the Dolan Consent, that the Company file a registration statement on an appropriate form for the general registration of securities under the Securities Act, and include therein such number of the Shares owned by such Dolan
Family Party as such person may specify in its written request; provided, however, that (i) the Company shall not be required to file a registration statement pursuant to this Section 1 if (x) the Shares
requested to be so registered do not, in the case of a Dolan Family Holder, together with any Shares timely requested to be registered by other Dolan Family Holders and Other Holders pursuant to the third-to-last sentence of this Section 1(a), have an aggregate Market Price exceeding the Rule 144 Threshold as of the Trading Day immediately preceding the expiration of the applicable Notice Period
under such sentence or, in the case of a Qualifying Creditor, do not have an aggregate Market Price exceeding the Rule 144 Threshold as of the Trading Day immediately preceding the date on which the request for registration is received by the
Company, or (y) the Company delivers to each Dolan Family Party requesting registration under this Section 1 an 

  
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opinion of counsel to the Company (such opinion and such counsel to be reasonably acceptable to each such Dolan Family Party, it being agreed that the Company’s regular outside securities
counsel shall be deemed to be reasonably acceptable counsel for this purpose) to the effect that the Shares proposed to be registered by such person may be offered and sold by such person to the public in the United States together with the Shares
requested to be registered by all other Dolan Family Parties and Other Holders (I) without registration pursuant to an effective registration statement under the Securities Act and (II) within the volume limitations under
Rule 144(e) promulgated under the Securities Act (or any successor rule or regulation) whether or not such volume limitations are then applicable, (ii) subject to the next sentence, the Dolan Family Holders shall in the aggregate have
the right on only four occasions to require the Company to file a registration statement pursuant to this Section 1, and (iii) subject to the next sentence, a Qualifying Creditor may require registration only following the exercise
of its remedies under a security agreement with a Dolan Family Holder and for the purpose of Transferring Shares pursuant thereto and each Qualifying Creditor may only require one registration hereunder. The total number of demand registrations
under clauses (ii) and (iii) of the immediately preceding sentence and under the corresponding provisions of the Dolan Children Trusts Registration Rights Agreement shall not exceed four. All requests made pursuant to this paragraph shall
specify the aggregate number of Shares to be registered and the intended methods of disposition thereof, which methods may include an underwritten public offering. Upon receipt of a written request for registration from a Dolan Family Holder
pursuant to the preceding sentences, the Company shall promptly give written notice of the proposed registration to each such other Dolan Family Holder 

  
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and each Other Holder and provide each such other holder with the opportunity to join in such request by written notice to the Company specifying the aggregate number of Shares to be registered
by such holder within 20 days from the date of the Company’s written notice (such period is referred to as the “Notice Period”). Subject to Section 1(c) of this Agreement, the Company will use its reasonable best efforts
to ensure that each registration statement required to be filed pursuant to this Section 1 shall be filed with the Securities and Exchange Commission (the “Commission”) as promptly as reasonably practicable, but no later than
45 days after receipt of such request by the Company, and the Company shall use its reasonable best efforts to cause such registration statement to be declared effective by the Commission as promptly thereafter as practicable; provided,
however, that the Company shall not be required to maintain such effectiveness for more than 90 days. Notwithstanding the Company’s rights to effect a Suspension of Filing or Suspension of Effectiveness in Section 1(c), the Dolan
Family Parties that made the registration request under this Section 1(a) shall have the right to withdraw any such request, and such withdrawn request shall not count as a demand registration under clause (ii) or (iii) of this
Section 1(a) or the corresponding provisions under the Dolan Children Trusts Registration Rights Agreement, if (1) the registration statement required to be filed pursuant to this Section 1 is not filed with the Commission by
the date that is 45 days after such request is received by the Company and has not at the time of such withdrawal been filed with the Commission, or is not declared effective by the date that is 90 days after the date such registration statement is
filed with the Commission and has not at the time of such withdrawal been declared effective, and (2) in either case, such Dolan Family Parties notify the Company of the withdrawal of such request no later than 10 days after such 45th or 90th day, as the case may be. 

  
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 (b) Concurrent Primary Offering. Anything in this Section 1 to the contrary
notwithstanding, if the Company at the time of receipt of a request for registration pursuant to this Section 1 has a bona fide intent and plan to file a registration statement (other than on Form S-4 or S-8 or any successor forms) covering a primary offering by the Company of its Common Equity Securities, the Company, by notice to the applicable Dolan Family Parties, may delay the filing (but not the preparation)
of the requested registration statement for a period ending on the earlier of (i) 60 days after the closing of such offering or (ii) 120 days after receipt of the request for registration; and, provided, further, if the
Company either abandons its plan to file such registration statement or does not file the same within 75 days after receipt of such request, the Company shall promptly thereafter file the requested registration statement. The Company may not,
pursuant to the immediately preceding sentence, delay the filing of a requested registration statement more than once during any two-year period. 

(c) Suspension of Offering. Upon notice by the Company to any Dolan Family Party which has requested registration under this
Section 1 that a negotiation or consummation of a transaction by the Company or any of its subsidiaries is pending or an event has occurred, which negotiation, consummation or event would require disclosure in the registration statement for the
requested registration and such disclosure would, in the good faith judgment of the board of directors of the Company, be materially adverse to the business interests of the Company, and the nondisclosure of which in the registration statement would
reasonably be expected to cause the registration 

  
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statement to fail to comply with applicable disclosure requirements (a “Materiality Notice”), the Company may delay the filing (but not the preparation) of such registration
statement (a “Suspension of Filing”). Upon the delivery of a Materiality Notice by the Company pursuant to the preceding sentence at any time when a registration statement has been filed but not declared effective, the Company may
delay seeking the effectiveness of such registration statement (a “Suspension of Effectiveness”), and each Dolan Family Party named therein shall immediately discontinue any offers of Shares under such registration statement until
such Dolan Family Party receives copies of a supplemented or amended prospectus that corrects such misstatement or omission, or until it is advised in writing by the Company that offers under such registration statement may be resumed and has
received copies of any additional or supplemental filings which are incorporated by reference in such registration statement. Upon the delivery of a Materiality Notice by the Company pursuant to the first sentence of this Section 1(c) at any
time when a registration statement has been filed and declared effective, each Dolan Family Party named therein shall immediately discontinue offers and sales of Shares under such registration statement until such Dolan Family Party receives copies
of a supplemented or amended prospectus that corrects such misstatement or omission and notice that any post-effective amendment has become effective, or until it is advised in writing by the Company that offers under such registration statement may
be resumed and has received copies of any additional or supplemental filings which are incorporated by reference in the registration statement (a “Suspension of Offering;” a Suspension of Filing, a Suspension of Effectiveness and a
Suspension of Offering are collectively referred to herein as, “Suspensions”). If so directed by the Company, each Dolan Family 

  
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Party will deliver to the Company all copies (other than permanent file copies then in such Dolan Family Party’s possession) of any prospectus covering Shares in the possession of such Dolan
Family Party or its agents current at the time of receipt of any Materiality Notice. In any 12-month period, the aggregate time of all Suspensions shall not, without the consent of a majority of the Dolan
Family Holders (by number of Shares held), which consent shall not be unreasonably withheld, exceed 180 days. If interrupted by a Suspension of Offering, any 90-day period in respect of which the Company is
required to maintain the effectiveness of a registration statement pursuant to Section 1(a) of this Agreement shall be extended by the number of days during which the Suspension of Offering was in effect. In the event of any Suspension of
Offering of more than 30 days in duration prior to which the Dolan Family Parties have sold less than 75% of the Shares to be sold in such offering, the Dolan Family Parties shall be entitled to withdraw such registration prior to the later of
(i) the end of the Suspension of Offering and (ii) three business days after the Company has provided the Dolan Family Parties written notice of the anticipated date on which the Suspension of Offering will end, and, if such
registration is withdrawn, the related demand for registration shall not count for the purposes of the limitations set forth under clauses (ii) and (iii) of Section 1(a) or the comparable provisions under the Dolan Trusts Registration
Rights Agreement. 
 (d) Market Price; Trading Day. For purposes of this Section 1: 

(i) “Market Price” of a share of Class A Common Stock shall mean the weighted average of the closing
prices for the Class A Common Stock on each Trading Day (as defined below) in the 30-day period ending on the day prior to the date of determination as reported in the consolidated transaction reporting
system of the New York Stock Exchange or on the comparable reporting system of such other exchange or trading system that is at the time the principal market for the Class A Common Stock. 

  
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 (ii) “Trading Day” shall mean any day on which trading
takes place on the New York Stock Exchange or such other exchange or trading system that is at the time the principal market for the Class A Common Stock. 

2. Coordination of PiggyBack Registration Rights. 

Each of the Dolan Family Parties hereby acknowledges and consents to the grant by the Company to the Children Trust Holders (as defined in the
Dolan Children Trusts Registration Rights Agreement and hereinafter referred to in this Agreement as the “Other Holders”), in the Dolan Children Trusts Registration Rights Agreement, of the right of the Other Holders to include
certain of their respective shares of Class A Common Stock in certain registration statements filed pursuant hereto. Each of the Dolan Family Parties further acknowledges and agrees that if any offering hereunder is to be underwritten and if
the managing underwriter or underwriters of such offering informs such person in writing that the number of shares of Class A Common Stock which the Dolan Family Parties, and the Other Holders, as the case may be, intend to include in such
offering is sufficiently large so as to affect the offering price of such offering materially and adversely, then the respective number of shares of Class A Common Stock to be offered for the account of each Dolan Family Party and each Other
Holder, as the case may be, who is participating in such offering shall be reduced pro rata to the extent necessary to reduce the total number of shares of Class A Common Stock to be included in such offering to the number recommended by such
managing underwriter. 

  
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Except for such piggyback registration rights granted to Other Holders, and to any transferee of the shares of Class A Common Stock owned by an Other Holder which may be registered pursuant
to the Dolan Children Trusts Registration Rights Agreement, neither the Company nor any of its security holders shall have the right to include any of the Company’s securities in any registration statement filed pursuant hereto. 

3. Piggyback Registration of the Shares. 

If the Company proposes to file a registration statement under the Securities Act with respect to an offering (a) by an Other
Holder of its holdings of Class A Common Stock pursuant to the Dolan Children Trusts Registration Rights Agreement, (b) by any other holder of any Common Equity Securities or (c) by the Company for its own account of any
Common Equity Securities (other than a registration statement on Form S-4 or S-8, or any successor form or a form filed in connection with an exchange offer or an
offering of securities solely to the existing stockholders of the Company), the Company shall give written notice of such proposed filing to each of the Dolan Family Holders at least 20 days before the anticipated filing date which shall state
whether such registration will be in connection with an underwritten offering and offer such Dolan Family Holders the opportunity to include in such registration statement such number of the Shares as such Dolan Family Holder may request not later
than three days prior to the anticipated filing date. The Company shall use its reasonable best efforts to cause the managing underwriter or underwriters of a proposed underwritten offering to permit such Dolan Family Holders to be included in the
registration for such offering and to include such Shares in such offering on the same terms and conditions as the Common Equity Securities included in such offering. If such proposed offering is to be underwritten, then

  
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upon request by the managing underwriter or underwriters given to such Dolan Family Holders prior to the effective date of the offering, any Dolan Family Holder electing to have Shares included
in the registration statement shall either enter into underwriting agreements with customary terms and conditions for a secondary offering with such underwriter or underwriters providing for the inclusion of such number of the Shares owned by such
Dolan Family Holder in such offering on such terms and conditions or, if such Dolan Family Holder shall refuse to enter into any such agreement, the Company shall have the right to exclude from such registration all (but not less than all) of the
Shares of such Dolan Family Holder. Notwithstanding the foregoing, (x) in no event will any Dolan Family Holder be required in such underwriting agreement (or in any other agreement in connection with such offering) to
(i) make any representations or warranties to or agreements with the underwriters other than representations, warranties or agreements customarily made by selling securityholders in underwritten secondary offerings, (ii) make
any representations or warranties to or agreements with the Company other than representations, warranties or agreements regarding such Dolan Family Holder, the ownership of such Dolan Family Holder’s Common Equity Securities, the
authorization, validity and binding effect of transaction documents executed by such Dolan Family Holder in connection with such registration and such Dolan Family Holder’s intended method or methods of distribution and any other representation
required by law; provided that no Dolan Family Holder shall be required to make any representation or warranty to any person covered by the indemnity in Section 7(b) other than on a several (and not joint) basis, or
(iii) furnish any indemnity to any person which is broader than the indemnity customarily furnished by selling security holders in 

  
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underwritten offerings; provided that no Dolan Family Holder shall be required to furnish any indemnity broader than the indemnity furnished by such Dolan Family Holder in Section 7(b) to
any person covered by the indemnity in Section 7(b), and (y) if the managing underwriter or underwriters of such offering informs the Dolan Family Holders in writing that the number of Shares which the Dolan Family Holders and the
number of Shares which the Other Holders intend to include in such offering is sufficiently large so as to affect materially and adversely the success of such offering, the Shares to be offered for the account of the Dolan Family Holders and the
Other Holders shall first be reduced pro rata to the extent necessary to reduce the total number of shares of Class A Common Stock to be included in such offering to the number recommended by such managing underwriter. In giving effect to the
foregoing reduction, the respective number of the Shares to be offered for the account of Dolan Family Holders shall be reduced pro rata. 

4. Holdback Agreements. 

(a) Restrictions on Public Sale by Dolan Family Parties. To the extent not inconsistent with applicable law, each Dolan Family Party
agrees not to offer publicly or effect any public sale or distribution of Common Equity Securities, including a sale pursuant to Rule 144 under the Securities Act (or any successor rule or regulation), during the seven days prior to, and during the 90-day period beginning on, the effective date of any registration statement filed by the Company pursuant to which any such shares or securities are being registered (except as part of such registration), if and to
the extent requested by the Company in the case of a non-underwritten public offering or if and to the extent requested by the managing underwriter or underwriters in the case of an underwritten public
offering. 

  
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 (b) Restrictions on Public Sale by the Company and Others. The Company agrees
(i) that during the seven days prior to, and during the 90-day period beginning on, the effective date of any registration statement filed at the request of a Dolan Family Party pursuant hereto,
the Company will not offer publicly or effect any public sale or distribution of Common Equity Securities (other than any such sale or distribution of such securities in connection with any merger or consolidation of the Company or any subsidiary
with, or the acquisition by the Company or a subsidiary of the capital stock or substantially all of the assets of, any other person or any offer or sale of such securities pursuant to a registration statement on Form
S-8), and (ii) that any agreement entered into after the date of this Agreement pursuant to which the Company issues or agrees to issue any privately placed Common Equity Securities shall
contain a provision under which holders of such securities agree not to effect any public sale or distribution of any such securities during the periods described in (i) above, in each case including a sale pursuant to Rule 144 (or any
successor rule or regulation) under the Securities Act (except as part of any such registration, if permitted). 
 5. Registration
Procedures. 
 In connection with any registration of the Shares owned by a Dolan Family Party contemplated hereby, the Company will as
expeditiously as possible: 
 (a) Furnish to such Dolan Family Party, prior to filing a registration statement, copies of such registration
statement as proposed to be filed, and thereafter such number of copies of such registration statement, each amendment and supplement thereto (in each case including all exhibits thereto), the prospectus included in such registration statement
(including each preliminary prospectus) and such other documents in such quantities as such Dolan Family Party may reasonably request from time to time in order to facilitate the disposition of the Shares. 

  
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 (b) Use its reasonable best efforts to register or qualify the Shares being registered as
contemplated hereby (the “Registered Class A”) under such other securities or blue sky laws of such jurisdictions as such Dolan Family Party reasonably requests and do any and all other acts and things which may
be reasonably necessary or advisable to enable such Dolan Family Party to consummate the disposition in such jurisdictions of the Registered Class A; provided that the Company will not be required to (i) qualify generally to
do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph (b), (ii) subject itself to taxation in any such jurisdiction, or (iii) consent to general service of process in any such
jurisdiction. 
 (c) Use its reasonable best efforts to cause the Registered Class A to be registered with or approved by such other
governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable such Dolan Family Party to consummate the disposition of such Registered Class A. 

(d) Notify such Dolan Family Party at any time, (i) of any request by the Commission or any other federal or state governmental
authority for amendments or supplements to a registration statement or related prospectus or for additional information, (ii) of the issuance by the Commission of any stop order suspending the effectiveness of a registration statement or
the initiation of any proceedings for that purpose, (iii) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registered Class A for
sale in any jurisdiction, or the initiation or threatening of any proceeding for 

  
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such purpose, and (iv) when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus
included in such registration statement contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, except as otherwise provided
in Section 1(c) hereof, the Company will, as expeditiously as practicable, prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registered Class A, such prospectus will not contain
an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. 

(e) Use its reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a registration statement, or the
lifting of any suspension of the qualification (or exemption from qualification) of any of the Registered Class A for sale in any jurisdiction at the earliest date reasonably practical. 

(f) Cause all such Registered Class A to be listed on the New York Stock Exchange or on any other securities exchange on which the
Class A Common Stock is then listed, provided that the applicable listing requirements are satisfied. 
 (g) Enter into customary
agreements (including an underwriting agreement in customary form) and take such other actions as are reasonably requested by the relevant Dolan Family Party in order to expedite or facilitate the disposition of the Registered Class A. 

  
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 (h) Make available for inspection by such Dolan Family Party, any underwriter participating
in any disposition pursuant to such registration statement, and any attorney, accountant or other agent retained by such Dolan Family Party or such underwriter (collectively, the “Inspectors”), all financial and other records,
pertinent corporate documents and properties of the Company (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the officers, directors and
employees of the Company to supply all information reasonably requested by any such Inspector in connection with such registration statement. Records which the Company determines, in good faith, to be confidential and which it notifies the
Inspectors are confidential shall not be disclosed by the Inspectors unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the registration statement or (ii) the release of
such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction. Any Dolan Family Party shall use reasonable best efforts, prior to any disclosure by any such Inspector under clause (i) of the preceding
sentence, to inform the Company that such disclosure is necessary to avoid or correct a misstatement or omission in the registration statement. Each Dolan Family Party further agrees that it will, upon learning that disclosure of Records is sought
in a court of competent jurisdiction, give notice to the Company and allow the Company, at the expense of the Company, to undertake appropriate action to prevent disclosure of the Records deemed confidential. 

(i) In the event such sale is pursuant to an underwritten offering, use its reasonable best efforts to (i) obtain a comfort letter
from the independent public accountants for the Company in customary form and covering such matters of the type customarily covered by such letters as any Dolan Family Party reasonably requests and (ii) ensure that (A) the
representations, warranties and covenants contained in the 

  
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applicable underwriting agreement shall expressly be for the benefit of any Dolan Family Party participating in such sale, (B) the conditions to closing in said underwriting agreement
shall be reasonably satisfactory to such Dolan Family Party and (C) to the extent customary, all comfort letters and opinions of counsel contemplated by said underwriting agreements are delivered to such Dolan Family Party on the closing
date of the offering. 
 (j) Otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the Commission
and have the registration statement declared effective as soon as practicable after filing. 
 The Company may require any Dolan Family
Party to furnish to the Company such information regarding such Dolan Family Party as the Company may from time to time reasonably request in writing, in each case only as required by the Securities Act or the rules and regulations thereunder. 

Each Dolan Family Party agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 5(d) hereof, such Dolan Family Party will forthwith discontinue disposition of the Registered Class A pursuant to the registration statement covering such Registered Class A until such Dolan Family Party receives the copies of
the supplemented or amended prospectus contemplated by Section 5(d) hereof, and, if so directed by the Company, such Dolan Family Party will deliver to the Company (at the expense of the Company) all copies, other than permanent file copies
then in such Dolan Family Party’s possession, of the prospectus covering such Registered Class A current at the time of receipt of such notice. If interrupted by receipt of any such notice pursuant to Section 5(d), any 90-day period in respect of which the Company is required to maintain the effectiveness of a registration statement pursuant to Section 1(a) shall be extended by the number of days during which the interruption
was in effect. 

  
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 6. Registration Expenses. 

Other than in the case of (a) a registration at the request of a Qualifying Creditor or (b) a demand registration under
Section 1(a)(ii) after the second such registration (each registration referred to in clause (a) or (b), a “Designated Registration”), all expenses incident to the performance of or compliance with this Agreement by the
Company, including, without limitation, all registration and filing fees, fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel in connection with blue sky qualifications of the
Registered Class A), printing expenses, messenger and delivery expenses, internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the fees and expenses
incurred in connection with the listing of the Registered Class A on the New York Stock Exchange or any other securities exchange on which such Class A Common Stock is then listed, fees and disbursements of counsel for the Company and its
independent certified public accountants (including the expenses of any special audit or comfort letters required by or incident to such performance), securities acts liability insurance (if the Company elects to obtain such insurance), the fees and
expenses of any special experts retained by the Company in connection with such registration, the fees and expenses of other persons retained by the Company, including transfer agents, trustees, depositories and registrars (all such expenses being
herein called “Registration Expenses”), will be borne by the 

  
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Company. In the case of a Designated Registration, all Registration Expenses other than internal expenses of the Company and securities acts liability insurance obtained by the Company at its
election, shall be borne by the Qualifying Creditor or the Dolan Family Holders participating in the offering, as the case may be. The Company will not have any responsibility for any of the expenses of any Dolan Family Party incurred in connection
with any registration statement hereunder, including, without limitation, underwriting discounts or commissions attributable to the sale of Registered Class A and fees and expenses of counsel for such Dolan Family Party. 

7. Indemnification; Contribution. 

(a) Indemnification by the Company. The Company agrees to indemnify and hold harmless, to the fullest extent permitted by law,
(i) each Dolan Family Party, (ii) the directors, officers, partners, employees, agents, beneficiaries, trustees, members and affiliates of each Dolan Family Party, and the directors, officers, partners, employees and agents
of each such affiliate, and (iii) each person who controls any of the foregoing (within the meaning of the Securities Act and the Exchange Act), and any investment adviser thereof, against any and all losses, claims, damages,
liabilities, expenses (or actions or proceedings in respect thereof) or costs (including, without limitation, costs of investigation and reasonable attorneys’ fees and disbursements incurred by any such indemnified person in connection with
enforcing its rights hereunder preparing, pursuing or defending any such loss, claim, damage, liability, expense, action or proceeding), including any of the foregoing incurred in settlement of any litigation commenced or threatened (collectively,
“Losses”), joint or several, based upon or arising out of (x) any untrue or alleged untrue statement of material fact 

  
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contained in any registration statement, prospectus, preliminary prospectus, summary prospectus or amendment or supplement thereto, (y) any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading, or (z) any violation by the
Company of any federal, state or common law rule or regulation applicable to the Company in connection with such registration, and the Company will reimburse each such indemnified party for any such Loss, except in each case insofar as any such Loss
arises out of or is based upon an untrue statement or omission made in any such registration statement, prospectus, preliminary prospectus, final prospectus, summary prospectus, amendment or supplement, or a violation of law or regulation in
reliance upon and in conformity with written information furnished to the Company by such indemnified party expressly for use in the preparation thereof, it being understood that the information to be furnished to the Company for use in the
preparation of any such document shall be limited only to the information specifically referenced in the penultimate sentence of Section 7(b). Such indemnity shall remain in full force and effect regardless of any investigation made by such
indemnified person and shall survive the Transfer of any Shares by any such indemnified person. The indemnity in this Section 7(a) shall not apply to Losses incurred by a person other than in his or her capacity as a selling security holder. In
connection with an underwritten offering, the Company will indemnify the underwriters thereof, their officers and directors and each person who controls such underwriters (within the meaning of the Securities Act or the Exchange Act) to the same
extent as provided above with respect to the indemnification of each Dolan Family Party. 

  
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 (b) Indemnification by Dolan Family Parties. In connection with any registration
statement contemplated hereby, each Dolan Family Party participating in any offer or sale pursuant to such registration statement will furnish to the Company in writing such information with respect to such Dolan Family Party as the Company
reasonably requests for use in connection with any such registration statement, prospectus, preliminary prospectus, summary prospectus or amendment or supplement thereto and agrees to indemnify and hold harmless, severally, and not jointly, to the
fullest extent permitted by law, the Company, its directors, officers, employees, agents and affiliates and the directors, officers, partners, employees and agents of each such affiliate and each person who controls the Company (within the meaning
of the Securities Act or the Exchange Act) against any Losses insofar as such Losses arise out of or are based upon (i) an untrue or alleged untrue statement of a material fact contained in any such registration statement, prospectus,
preliminary prospectus, summary prospectus or amendment or supplement thereto or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a
prospectus, in the light of the circumstances under which they were made) not misleading, to the extent that such untrue statement or omission is contained in or omitted from any information with respect to such Dolan Family Party so furnished in
writing by such Dolan Family Party expressly for use in the preparation of such registration statement, prospectus, preliminary prospectus, summary prospectus or amendment or supplement thereto, as the case may be, or (ii) any violation
by such Dolan Family Party of any federal, state or common law rule or regulation applicable to such Dolan Family Party in connection with such registration. It is understood that the 

  
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information to be furnished by a Dolan Family Party to the Company for use in the preparation of any such document shall be limited only to information regarding such Dolan Family Party, the
ownership of such Dolan Family Party’s Common Equity Securities, such Dolan Family Party’s intended method or methods of distribution and any other information required by law. The liability of a Dolan Family Party under this
Section 7(b) shall not exceed the amount of net proceeds received by such Dolan Family Party (net of underwriting discounts borne by such Dolan Family Party) from the sale of the Shares in the offering that is the subject of an indemnity claim
under this Section 7(b). 
 (c) Conduct of Indemnification Proceedings. Any person entitled to indemnification hereunder agrees
to give prompt written notice to the indemnifying party after the receipt by such person of any written notice of the commencement of any action, suit, proceeding or investigation or threat thereof made in writing for which such person will claim
indemnification or contribution pursuant to this Agreement, provided that the failure of any indemnified party to give notice as provided herein shall not relieve the indemnified party of its obligations under this Section 7, except to the
extent that the indemnifying party is materially prejudiced by such failure to give notice. Unless in the reasonable judgment of such indemnified party, a conflict of interest may exist between such indemnified party and the indemnifying party with
respect to such claim, the indemnified party shall permit the indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to such indemnified party. If the indemnifying party is not entitled to, or elects not to,
assume the defense of a claim, it will not be obligated to pay the fees and expenses of more than one counsel with respect 

  
 -21- 

 
to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to
such claim, in which event the indemnifying party shall be obligated to pay the fees and expenses of such additional counsel or counsels. No indemnifying party will be subject to any liability for any settlement made without its consent. No
indemnifying party, in the defense of any such claim or litigation shall, except with the consent of the applicable indemnified party, which consent shall not be unreasonably withheld, consent to entry of any judgment or enter into any settlement
which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation. 

(d) Indemnification Payments. Any indemnification required to be made by an indemnifying party pursuant to this Section 7 shall be
made by periodic payments to the indemnified party during the course of the action or proceeding, as and when bills are received by such indemnifying party with respect to indemnifiable Losses incurred by such indemnified party. 

(e) Contribution. If the indemnification provided for in this Section 7 from the indemnifying party is unavailable to an
indemnified party hereunder in respect of any Losses or is insufficient to hold harmless an indemnified party from all Losses covered thereby, then the indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the
amount paid or payable by such indemnified party as a result of such Losses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified parties in connection with the actions which resulted

  
 -22- 

 
in such Losses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified parties shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or indemnified parties, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statements or omissions. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed
to include, subject to the limitations set forth in Section 7(c), any legal or other fees or expenses reasonably incurred by such party in connection with any investigation or proceeding. 

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 7(e) were determined by pro
rata allocation or by any other method of allocation which does not take into account the equitable considerations referred to in the immediately preceding paragraph. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

Notwithstanding anything else contained herein, (i) no party shall be liable for contribution under this Section 7(e) except
to the extent and under such circumstances as such party would have been liable to indemnify under this Section 7 if such indemnification were enforceable under applicable law and (ii) no Dolan Family Party (or related indemnified
party) shall be required to contribute any amount in excess of the amount by which the net proceeds received by such Dolan Family Party (net of 

  
 -23- 

 
underwriting discounts borne by such Dolan Family Party) from the sale of Shares in the offering that is the subject of the claim for contribution exceeds the amount of any damages which such
Dolan Family Party (or related indemnified party) would have been required to pay by reason of the indemnity under this Section 7 if such indemnification was enforceable under applicable law. 

If indemnification is available under this Section 7, the indemnifying parties shall indemnify each indemnified party to the full extent
provided in Sections 7(a) and (b) without regard to the relative fault of said indemnifying party or indemnified party or any other equitable consideration provided for in this Section 7(e). 

8. Participation in Underwritten Registrations. A Dolan Family Party may not participate in any underwritten registration hereunder or
under the Dolan Children Trusts Registration Rights Agreement or otherwise unless such Dolan Family Party (a) agrees to sell the Shares on the basis provided in any underwriting arrangements with customary terms and conditions for a
secondary offering approved by the persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably
required under the terms of such underwriting arrangements, provided that none of the foregoing shall in any way limit the obligations of the Company under Section 7. 

9. Miscellaneous. 
 (a)
No Inconsistent Agreements. The Company will not hereafter enter into any agreement with respect to its securities which is inconsistent with the rights granted to the Dolan Family Parties in this Agreement. 

  
 -24- 

 (b) Amendments. This Agreement may not be amended, modified or altered except by a
writing duly signed by the party against which such amendment or modification is sought to be enforced. 
 (c) Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the Company, the Dolan Family Parties and the respective successors and permitted assigns of the Company and the Dolan Family Parties. This Agreement may not be assigned by either the
Company or a Dolan Family Party without the prior written consent of the other party hereto; provided that the Company agrees that all transferees of all or substantially all of the Shares held by Dolan shall be accorded all of the registration
rights of Dolan hereunder. The Company shall assign its rights and obligations hereunder to any entity that succeeds to all or substantially all of its assets, by merger or otherwise, including to any holding company that may be formed to be the
parent of the Company, if such entity becomes the issuer of the securities then owned by the Dolan Family Holders. 
 (d)
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. 

(e) Headings. The headings in this Agreement are for reference purposes only and shall not constitute a part hereof. 

(f) Construction. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New
York without giving any effect to principles of conflicts of laws. 

  
 -25- 

 (g) Notices. Any notice required or desired to be delivered hereunder shall be
(i) in writing, (ii) delivered by personal delivery, sent by commercial delivery service or certified mail, return receipt requested, or by facsimile or electronic mail, (iii) deemed to have been given on the date
of personal delivery, the date set forth in the records of the delivery service or return receipt, or in the case of facsimile or electronic mail, upon dispatch, and (iv) addressed as designated on Schedule 1 hereto (or to such
other address as the party entitled to notice shall hereafter designate in accordance with the terms hereof), with copies as designated on Schedule 1 hereto. 

(h) Severability. If any provision of this Agreement or the application of any provision hereof to any person or circumstance is held
invalid, the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected unless the provision held invalid shall substantially impair the benefits of the remaining portions of this
Agreement. 
 (i) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and is intended
to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or
referred to herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 

  
 -26- 

 (j) Attorneys’ Fees. In any action or proceeding brought to enforce any
provision of this Agreement, or where any provision hereof is validly asserted as a defense, the successful party shall be entitled to recover reasonable attorneys’ fees in addition to any other available remedy. 

(k) Effectiveness. This Agreement shall become effective on the date on which the Distribution is consummated, without any further
action of any of the parties hereto. 

  
 -27- 

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

			
	 MSG ENTERTAINMENT SPINCO, INC.
 (to
be renamed Madison Square Garden Entertainment Corp.)

		
	By:	 	 
		 	Name:
		 	Title:
	
	CHARLES F. DOLAN
	
	  

	 Individually, and as Trustee of the

Charles F. Dolan 2009 Revocable Trust

	
	HELEN A. DOLAN
	
	  

	
	Individually, and as Trustee of the Helen A. Dolan 2009 Revocable Trust
	
	MARY S. DOLAN
	
	  

	As Trustee of the Charles F. Dolan 2009 Family Trusts 
	
	 CORBY DOLAN LEINAUER

	
	  

	 As Trustee of the Charles F. Dolan 2009 Family Trusts 

  
 [Signature Page to Family
Affiliates Registration Rights Agreement (MSG Entertainment Spinco)] 

 
	
	KATHLEEN M. DOLAN
	
	  

	As Trustee of the Tara Dolan 1989 Trust and the Ryan Dolan 1989 Trust
	
	JAMES L. DOLAN
	
	  

	James L. Dolan, individually

  

  
 [Signature Page to Family
Affiliates Registration Rights Agreement (MSG Entertainment Spinco)]EX-10.1

 Exhibit 10.1 

TRANSITION SERVICES AGREEMENT 
 BY
AND BETWEEN 
 MSG SPORTS & ENTERTAINMENT, LLC 

(TO BE RENAMED [_________]) 
 AND

 MSG SPORTS, LLC 
 dated as of
____________, 2020 

 TABLE OF CONTENTS 
  

					
	 	  	Page	 
	ARTICLE I
DEFINITIONS	  			
		
	 Section 1.1. General
	  	 	1	 
	 Section 1.2. Reference; Interpretation
	  	 	4	 
		
	ARTICLE II
SERVICES	  			
		
	 Section 2.1. Services
	  	 	4	 
	 Section 2.2. Standard of Service
	  	 	5	 
	 Section 2.3. Additional Services
	  	 	5	 
	 Section 2.4. Representative
	  	 	5	 
		
	ARTICLE III
LICENSES AND PERMITS	  			
		
	 Section 3.1. Licenses and Permits
	  	 	5	 
		
	ARTICLE IV
PAYMENT	  			
		
	 Section 4.1. General
	  	 	6	 
	 Section 4.2. Additional Expenses
	  	 	6	 
	 Section 4.3. Adjustments
	  	 	6	 
	 Section 4.4. Invoices
	  	 	7	 
	 Section 4.5. Failure to Pay
	  	 	7	 
	 Section 4.6. Termination of Services
	  	 	7	 
		
	ARTICLE V
INSURANCE MATTERS	  			
		
	 Section 5.1. Existing Insurance Polices
	  	 	8	 
	 Section 5.2. Disclaimer
	  	 	8	 
	 Section 5.3. Insurance Transition
	  	 	8	 
	 Section 5.4. Claims Made Policies
	  	 	8	 
	 Section 5.5. Post-Distribution Claims for
Pre-Distribution Events
	  	 	9	 
	 Section 5.6. Audits and Adjustments
	  	 	9	 
	 Section 5.7. No Assignment or Waiver
	  	 	9	 
	 Section 5.8. No Limitation on Sportsco Insurance
	  	 	9	 
	 Section 5.9. Scope
	  	 	9	 

					
	ARTICLE VI	  			
	INDEMNIFICATION	  			
		
	Section 6.1. Indemnification of Party Receiving Services	  	 	10	 
	Section 6.2. Indemnification of Party Providing Services	  	 	10	 
	Section 6.3. Third Party Claims	  	 	11	 
	Section 6.4. Indemnification Payments	  	 	13	 
	Section 6.5. Survival	  	 	13	 
		
	ARTICLE VII	  			
	COOPERATION; CONFIDENTIALITY; TITLE	  			
		
	Section 7.1. Good Faith Cooperation; Consents	  	 	13	 
	Section 7.2. Confidentiality	  	 	13	 
	Section 7.3. Internal Use; Title, Copies, Return	  	 	14	 
		
	ARTICLE VIII	  			
	TERM	  			
		
	Section 8.1. Duration	  	 	14	 
	Section 8.2. Early Termination by Entertainco	  	 	15	 
	Section 8.3. Early Termination by Sportsco	  	 	15	 
	Section 8.4. Termination of MSGN Services Agreement	  	 	15	 
	Section 8.5. Suspension Due to Force Majeure	  	 	16	 
	Section 8.6. Consequences of Termination	  	 	16	 
		
	ARTICLE IX	  			
	RECORDS	  			
		
	Section 9.1. Maintenance of Records	  	 	16	 
		
	ARTICLE X	  			
	DISPUTE RESOLUTION	  			
		
	Section 10.1. Negotiation	  	 	17	 
	Section 10.2. Continuity of Service and Performance	  	 	17	 
	Section 10.3. Other Remedies	  	 	17	 
		
	ARTICLE XI	  			
	NOTICES	  			
		
	Section 11.1. Notices	  	 	17	 

  
 -ii- 

					
		
	ARTICLE XII	  			
	MISCELLANEOUS	  			
	Section 12.1. Taxes	  	 	18	 
	Section 12.2. Relationship of Parties	  	 	18	 
	Section 12.3. Complete Agreement; Construction	  	 	18	 
	Section 12.4. Counterparts	  	 	18	 
	Section 12.5. Waivers	  	 	19	 
	Section 12.6. Amendments	  	 	19	 
	Section 12.7. Assignment	  	 	19	 
	Section 12.8. Successors and Assigns	  	 	19	 
	Section 12.9. Third Party Beneficiaries	  	 	19	 
	Section 12.10. Governing Law; League Rules	  	 	19	 
	Section 12.11. Waiver of Jury Trial	  	 	19	 
	Section 12.12. Specific Performance	  	 	19	 
	Section 12.13. Severability	  	 	20	 
	Section 12.14. Provisions Unaffected	  	 	20	 
	Section 12.15. No Presumption	  	 	20	 
		
	Schedule A Services Provided by Entertainco to Sportsco	  	 	A-1	 
	Schedule A.1 IT Services Provided by Entertainco to Sportsco	  	 	A.1-1	 
	Schedule B Services Provided by Sportsco to Entertainco	  	 	B-1	 
	Schedule C Initial Representatives	  	 	C-1	 
	Schedule D Existing Insurance Polices	  	 	D-1	 

  
 -iii- 

 Transition Services Agreement, dated as of ____________, 2020 (this
“Agreement”), between MSG Sports, LLC (to be renamed [_________]), a Delaware limited liability company (“Sportsco”), and MSG Sports & Entertainment, LLC (to be renamed [_________]), a Delaware limited
liability company (“Entertainco”). 
 W I T N E S S E T H: 

WHEREAS, Sportsco’s parent, The Madison Square Garden Company (to be renamed Madison Square Garden Sports Corp.) (“Sportsco
Parent”), and Entertainco’s parent, MSG Entertainment Spinco, Inc. (to be renamed Madison Square Garden Entertainment Corp.) (“MSG”), have entered into a Distribution Agreement, dated as of ____________, 2020 (the
“Distribution Agreement”), which sets forth the terms pursuant to which Sportsco Parent will transfer certain assets to MSG and Sportsco Parent will distribute the common stock of MSG to shareholders of Sportsco Parent (the
“Distribution”); and 
 WHEREAS, in connection with the Distribution, and in order to ensure an orderly transition under
the Distribution Agreement, it will be necessary for each of the parties to provide to the other the Services described herein for a transitional period; 

NOW, THEREFORE, the parties hereto, in consideration of the premises and the mutual covenants contained herein, agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1. General. As used in this Agreement, the following terms have the respective
meanings set forth below: 
 “Action” shall have the meaning assigned to that term in the Distribution Agreement. 

“Affiliate” shall, subject to the next succeeding sentence, have the meaning assigned to that term in the Distribution
Agreement. For clarity, unless the context otherwise requires, a reference to a Person’s “Affiliates” shall be deemed to mean such Person’s Affiliates following the Distribution; provided that for purposes of this Agreement
Entertainco and Sportsco shall not be considered Affiliates. 
 “Ancillary Agreement” shall have the meaning assigned to
that term in the Distribution Agreement. 
 “Applicable Rate” shall mean the Prime Rate (as defined below) plus three
percent (3%) per annum. 
 “Bankruptcy Event” with respect to a party shall mean the filing of an involuntary petition in
bankruptcy or similar proceeding against such party seeking its reorganization, liquidation or the appointment of a receiver, trustee or liquidator for it or for all or substantially all of its assets, whereupon such petition shall not be dismissed
within sixty (60) days after the filing thereof, or if such party shall (i) apply for or consent in writing to the appointment of a 

 
receiver, trustee or liquidator of all or substantially all of its assets, (ii) file a voluntary petition or admit in writing its inability to pay its debts as they become due,
(iii) make a general assignment for the benefit of creditors, (iv) file a petition or an answer seeking reorganization or an arrangement with its creditors or take advantage of any insolvency law with respect to itself as debtor, or
(v) file an answer admitting the material allegations of a petition filed against it in any bankruptcy, reorganization, insolvency proceedings or any similar proceedings. 

“Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banks in New York City, New York are
authorized or obligated by law or executive order to close. 
 “Change of Control” of a company shall mean an event or
series of events by which Dolan Family Interests or Persons controlled by Dolan Family Interests (any such Person, a “Dolan Family Interest Controlled Person”) (so long as such “person” or “group” (as such terms
are used in Sections 13(d) and 14(d) of Securities and Exchange Act of 1934, as amended (the “Exchange Act”)) other than the Dolan Family Interests shall beneficially own (within the meaning of Rule
13d-3 (as in effect on the effective date of this Agreement) promulgated under the Exchange Act), in the aggregate, more than fifty percent (50%) of the equity interests in such Dolan Family Interest
Controlled Person(s)) shall cease at any time to have beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of shares of the capital stock of such company, having
sufficient votes to elect (or otherwise designate) at such time a majority of the members of the board of directors of such company. 

“Commencement Date” shall have the meaning ascribed to that term in Section 8.1 of this Agreement. 

“Dolan Family Interests” shall mean (i) any Dolan Family Member, (ii) any trusts for the benefit of any Dolan
Family Members, (iii) any estate or testamentary trust of any Dolan Family Member for the benefit of any Dolan Family Members, (iv) any executor, administrator, trustee, conservator or legal or personal representative of any Person or
Persons specified in clauses (i), (ii) and (iii) above to the extent acting in such capacity on behalf of any Dolan Family Member or Members and not individually and (v) any corporation, partnership, limited liability company or other
similar entity, in each case 80% of which is owned and controlled by any of the foregoing or combination of the foregoing. 
 “Dolan
Family Members” shall mean Charles F. Dolan, his spouse, his descendants and any spouse of any of such descendants. 

“Entertainco Services” shall mean those transitional services, including any Additional Services, to be provided by
Entertainco to Sportsco set forth on Schedule A hereto to assist Sportsco in operating Sportsco’s business following the Distribution. Services or actions of Overlap Individuals shall not be considered to be Entertainco Services under this
Agreement unless expressly agreed in writing by both parties to this Agreement. 
 “League Rules” shall collectively mean
NBA Rules (as defined below) and NHL Rules (as defined below). 

  
 -2- 

 “Loss” shall mean any damage, claim, loss, charge, action, suit,
proceeding, deficiency, tax, interest, penalty and reasonable costs and expenses related thereto (including reasonable attorneys’ fees). 

“NBA” shall mean the National Basketball Association. 

“NBA Rules” shall mean (i) the NBA Constitution and By-Laws and all other rules
and regulations of the NBA, as they presently exist and as they may from time to time be amended, to the extent they are of general applicability to all NBA members, and (ii) the terms of any existing or future contracts entered into by the NBA
on behalf of all NBA members for the telecasting of basketball games. 
 “NHL” shall mean the National Hockey League. 

“NHL Rules” shall mean (i) the NHL Constitution; (ii) the NHL By-Laws;
(iii) all resolutions duly adopted by the NHL Board of Governors in accordance with (i) or (ii) above; (iv) all other rules, regulations, policies, procedures, interpretations and agreements adopted, issued, authorized, established,
entered into or otherwise promulgated, in each case, pursuant to or otherwise in accordance with the items in clauses (i), (ii) or (iii) above; and (v) the terms of any contracts entered into by the NHL on behalf of all NHL member clubs
for the telecasting of hockey games; in each case (i.e., clauses (i), (ii), (iii), (iv) and (v)) (x) as may be presently existing, hereafter entered into or in effect, or adopted, repealed and/or amended from time to time and (y) that
are generally applicable to all NHL member clubs. 
 “Overlap Individuals” shall mean Persons who are directors of both
Sportsco and Entertainco or employees of both Sportsco and Entertainco if such employee is compensated by both companies. 

“Person” shall mean any natural person, corporation, business trust, limited liability company, joint venture, association,
company, partnership or government, or any agency or political subdivision thereof. 
 “Prime Rate” shall mean the rate of
interest per annum announced from time to time by JPMorgan Chase Bank, National Association, as its prime lending rate. 

“Services” shall mean, collectively, the Entertainco Services and the Sportsco Services. 

“Sportsco Services” shall mean those transitional services, including any Additional Services, to be provided by Sportsco to
Entertainco set forth on Schedule B hereto to assist Entertainco in operating Entertainco’s business following the Distribution. Services or actions of Overlap Individuals shall not be considered to be Sportsco Services under this Agreement
unless expressly agreed in writing by both parties to this Agreement. 
 “Third-Party” shall mean any Person who is not a
party to this Agreement. 

  
 -3- 

 Section 1.2. Reference; Interpretation. References
in this Agreement to any gender include references to all genders, and references to the singular include references to the plural and vice versa. The words “include”, “includes” and “including”
when used in this Agreement shall be deemed to be followed by the phrase “without limitation.” Unless the context otherwise requires, references in this Agreement to Articles, Sections and Schedules shall be deemed references to
Articles and Sections of, and Schedules to, this Agreement. Unless the context otherwise requires, the words “hereof”, “hereby” and “herein” and words of similar meaning when used in this Agreement
refer to this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement. 
 ARTICLE II 

SERVICES 

Section 2.1. Services. (a) Entertainco shall provide to Sportsco each Entertainco Service for the term
set forth opposite the description of such Entertainco Service in Schedule A. Upon conclusion of the term set forth opposite the description of such Entertainco Service, this Agreement shall be deemed terminated with respect to such Entertainco
Service. Additional Services may be provided by Entertainco to Sportsco as provided in Section 2.3. At its option, (i) Entertainco may cause any Entertainco Service it is required to provide hereunder to be provided by a Third Party that
is providing, or may from time to time provide, the same or similar services for Entertainco and/or (ii) to the extent any Entertainco Service is already provided by a Third Party, Entertainco shall have the right to change the Third Party that
is providing such Entertainco Service to any Third Party that is providing, or may from time to time provide, the same or similar services for Entertainco, at any time upon reasonable notice to Sportsco. In the event of such a change as permitted in
clauses (i) or (ii) above results in a change in cost of Entertainco for the provision of such Entertainco Service, the applicable schedules to this agreement shall be updated to reflect the revised fees as allocated to Sportsco, provided that
if such a change results in an increase over 10% of the costs currently contemplated by Schedule A such an amendment will require the consent (which consent shall not be unreasonably withheld, conditioned or delayed) of Sportsco. 

(b) Sportsco shall provide to Entertainco each Sportsco Service for the term set forth opposite the description of such Sportsco Service in
Schedule B. Upon conclusion of the term set forth opposite the description of such Sportsco Service, this Agreement shall be deemed terminated with respect to such Sportsco Service. Additional Services may be provided to Entertainco by Sportsco
as provided in Section 2.3. At its option, (i) Sportsco may cause any Sportsco Service it is required to provide hereunder to be provided by a Third Party that is providing, or may from time to time provide, the same or similar services
for Sportsco and/or (ii) to the extent any Sportsco Service is already provided by a Third Party, Sportsco shall have the right to change the Third Party that is providing such Sportsco Service to any Third Party that is providing, or may from
time to time provide, the same or similar services for Sportsco, at any time upon reasonable notice to Entertainco. In the event of such a change as permitted in clauses (i) or (ii) above results in a change in cost of Sportsco for the
provision of such Sportsco Service, the applicable schedules to this agreement shall be updated to reflect the revised fees as allocated to Entertainco, provided that if such a change results in an increase over 10% of the costs currently
contemplated by Schedule B such an amendment will require the consent (which consent shall not be unreasonably withheld, conditioned or delayed) of Entertainco. 

  
 -4- 

 Section 2.2. Standard of Service. Entertainco and
Sportsco shall maintain sufficient resources to perform their respective obligations hereunder. In performing the Services, Entertainco and Sportsco shall provide substantially the same level of service and use substantially the same degree of care
as their respective personnel provided and used in providing such Services prior to completion of the Distribution for itself (but in no event less than a reasonable degree of care), subject in each case to any provisions set forth on
Schedule A or Schedule B with respect to each such Service. Each party shall provide reasonable assistance to the other party in migrating the applicable Services to the recipient of such Services. 

Section 2.3. Additional Services. From time to time after the date hereof, the parties may identify
additional services that one party will provide to the other party in accordance with the terms of this Agreement (the “Additional Services”). The parties shall cooperate and act in good faith to agree on the terms pursuant to which
any such Additional Service shall be provided and to amend Schedule A or Schedule B, as applicable, in accordance with such terms. Notwithstanding the foregoing, neither party shall have any obligation to agree to provide Additional Services,
except that, in the event that Additional Services requested by Sportsco to be provided by Entertainco are required by either the NBA or the NHL pursuant to applicable League Rules, and such Additional Services are the type of (or are comparable to)
services that Entertainco otherwise provides for itself (or currently obtains through a Third Party), Entertainco shall use good faith efforts to provide such Additional Services in accordance with the terms of the second sentence of this
Section 2.3 and otherwise in accordance with the terms of this Agreement. 
 Section 2.4.
Representative. The parties shall each appoint a representative (each, a “Representative”) to facilitate communications and performance under this Agreement. Each party may treat an act of a Representative of
another party as being authorized by such other party without inquiring behind such act or ascertaining whether such Representative had authority to so act. Each party shall have the right at any time and from time to time to replace its
Representative by giving notice in writing to the other party. The initial representative of each party is as set forth on Schedule C. 

ARTICLE III 
 LICENSES
AND PERMITS 
 Section 3.1. Licenses and Permits. Each party warrants and covenants that all
duties and obligations (including with respect to Entertainco, all Entertainco Services and with respect to Sportsco, all Sportsco Services) to be performed hereunder shall be performed in compliance with all material applicable federal, state and
local laws, rules and regulations. Each party shall obtain and maintain all material permits, approvals and licenses necessary or appropriate to perform its duties and obligations (including with respect to Entertainco, the Entertainco Services and
with respect to Sportsco, the Sportsco Services) hereunder and shall at all times comply with the terms and conditions of such permits, approvals and licenses. 

  
 -5- 

 ARTICLE IV 

PAYMENT 

Section 4.1. General. (a) In consideration for the provision of each of the Entertainco Services,
Sportsco shall pay to Entertainco the fee set forth for such Entertainco Service on Schedule A. 
 (b) In consideration for the
provision of each of the Sportsco Services, Entertainco shall pay to Sportsco the fee as set forth for such Sportsco Service on Schedule B. 

Section 4.2. Additional Expenses. (a) In addition to the fees payable in accordance with
Section 4.1(a), Sportsco shall reimburse Entertainco for all reasonable and necessary out-of-pocket costs and expenses incurred by Entertainco with respect to Third
Parties in connection with the provision of Entertainco Services to Sportsco pursuant to the terms of this Agreement or paid by Entertainco on behalf of Sportsco that are not already contemplated by Schedule A; provided that if Entertainco
expects to incur in respect of a Third Party in any month costs and expenses in excess of $25,000 and not already contemplated by Schedule A, Entertainco shall use commercially reasonable efforts to provide to Sportsco prior to the first day of such
month a written notice setting forth Entertainco’s reasonable estimate of the expenses it expects to incur. 
 (b) In addition to the
fees payable for expenses in accordance with Section 4.1(b), Entertainco shall reimburse Sportsco for all reasonable and necessary out-of-pocket costs and expenses
incurred by Sportsco with respect to Third Parties in connection with the provision of Sportsco Services to Entertainco pursuant to the terms of this Agreement or paid by Sportsco on behalf of Entertainco that are not already contemplated by
Schedule B; provided that if Sportsco expects to incur in respect of a Third Party in any month costs and expenses in excess of $25,000 and not already contemplated by Schedule B, Sportsco shall use commercially reasonable efforts to
provide to Entertainco prior to the first day of such a month written notice setting forth Sportsco’s reasonable estimate of the expenses it expects to incur. 

Section 4.3. Adjustments. Entertainco and Sportsco shall review and evaluate the fees payable in
accordance with Section 4.1 (the “Fees”) for existing services contemplated on Schedule A or Schedule B (the “Existing Services”) for reasonableness annually and work in good faith to equitably adjust
such Fees for Existing Services as appropriate to reflect among other things changes in compensation due to promotions or replacement of personnel at a lower or higher compensation level, increases or decreases in the percentage of labor-based
allocation based on increased or decreased efforts of a particular individual, or adjustments to percentage of non-labor allocations tied to headcounts or other reasonable metrics. Entertainco and Sportsco
shall work together in good faith to determine an appropriate date for such adjustments to take effect (which may be retroactive to the date of such changes). The addition of any Services not contemplated by Schedule A and B shall be subject to each
company’s related party transaction approval policy. 

  
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 Section 4.4. Invoices. (a) Entertainco will
invoice Sportsco in U.S. dollars: (i) as of the last day of each calendar month for any fees payable by Sportsco in accordance with Section 4.1(a) for Entertainco Services listed on Schedule A provided pursuant to the terms of this
Agreement during such month; (ii) as of the last day of each calendar month for any amounts payable by Sportsco in accordance with Section 4.2(a) (and enclosing invoices from the relevant Third Parties); and (iii) as of the
last day of each calendar month for any taxes (excluding income taxes) accrued with respect to the provision of Entertainco Services to Sportsco during such month. Entertainco shall deliver or cause to be delivered to Sportsco each such invoice
within thirty (30) days following the last day of the calendar month to which such invoice relates. Sportsco shall pay each such invoice received by electronic funds transfer as follows: in the case of clauses (i) and (ii), within
forty-five (45) Business Days of the date on which such invoice was received, and in the case of clause (iii), not later than one (1) Business Day prior to the due date for such tax payments; provided that Entertainco delivers
such invoice not less than three (3) Business Days prior to the due date for such tax payments. 
 (b) Sportsco will invoice
Entertainco in U.S. dollars: (i) as of the last day of each calendar month for any fees payable by Entertainco in accordance with Section 4.1(b) for Sportsco Services listed on Schedule B provided pursuant to the terms of this
Agreement during such month; (ii) as of the last day of each calendar month for any amounts payable by Entertainco in accordance with Section 4.2(b) (and enclosing invoices from such Third Parties); and (iii) as of the last day of
each calendar month for any taxes (excluding income taxes) accrued with respect to the provision of Sportsco Services to Entertainco during such month. Sportsco shall deliver or cause to be delivered to Entertainco each such invoice within thirty
(30) days following the last day of the calendar month to which such invoice relates. Entertainco shall pay each such invoice received by electronic funds transfer: in the case of clauses (i) and (ii), within forty-five (45) Business
Days of the date on which such invoice was received, and in the case of clause (iii), not later than one (1) Business Day prior to the due date for such tax payments’ provided that Sportsco delivers such invoice not less than
three (3) Business Days prior to the due date for such tax payments. 
 Section 4.5. Failure to
Pay. Any undisputed amount not paid when due shall be subject to a late payment fee computed daily at a rate equal to the Applicable Rate from the due date of such amount to the date such amount is paid. Each party agrees to pay the other
party’s reasonable attorneys’ fees and other costs incurred in collection of any amounts owed to such other party hereunder and not paid when due. Notwithstanding anything to the contrary contained herein, in the event either party fails
to make a payment of any undisputed amount when due hereunder, and such failure continues for a period of thirty (30) days following delivery of notice to such non-paying party of such failure, the other
party shall have the right to cease provision of such Services to such non-paying party until such overdue payment (and any applicable late payment fee accrued with respect thereto) is paid in full. Such right
of the party providing services shall not in any manner limit or prejudice any of such party’s other rights or remedies in the event of the non-paying party’s failure to make payments when due
hereunder, including without limitation any rights or remedies pursuant to Sections 6, 8 and 10. 
 Section 4.6.
Termination of Services. In the event of a termination of Services pursuant to Section 8, with respect to the calendar month in which such Services cease to be provided, the recipient of such Services shall be obligated to pay
a fee for such Services calculated as set forth on Schedule A or B, as applicable for the portion of the month prior to the termination. Where possible, the parties agree to work together cooperatively to seek to have terminations occur as of
month ends, but this Agreement shall not limit a party’s right to effect a termination in accordance with this Agreement other than as of a month end. 

  
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 ARTICLE V 

INSURANCE MATTERS 

Section 5.1. Existing Insurance Polices. Each of the insurance policies of Entertainco and Sportsco
Parent in effect prior to the Distribution are listed on Schedule D hereto (the “Existing Policies”). Certain of the Existing Policies shall be transferred from the original named insured under that policy (the
“Transferor”) to another party (the “Transferee”) as indicated in Schedule D (the “Transferred Policies”). 

Section 5.2. Disclaimer. With respect to the Transferred Policies, each Transferor does hereby, for
itself and each of its subsidiaries, agree that the applicable Transferee and its subsidiaries and their respective directors, officers and employees shall not have any liability whatsoever as a result of the insurance policies and practices of the
Transferor and its affiliates as in effect at any time prior to the Distribution, including as a result of the level or scope of any such insurance, the creditworthiness of any insurance carrier, the selection, identity or performance of any Third
Party administrator, the terms and conditions of any policy, the adequacy or timeliness of any notice to any insurance carrier with respect to any claim or potential claim or otherwise. 

Section 5.3. Insurance Transition. With respect to the Transferred Policies, each Transferor agrees to
use its commercially reasonable efforts to cause the interest and rights of the applicable Transferee and each of its subsidiaries as of the date of the Distribution as insureds, additional named insureds or beneficiaries or in any other capacity
under occurrence-based insurance policies and programs (and under claims-made policies and programs to the extent a claim has been submitted prior to the Distribution or later if so permitted by the terms of the applicable insurance policy and
assuming that such policy is then in effect) of the applicable Transferee in respect of periods prior to the date of the Distribution to survive the Distribution for the period for which such interests and rights would have survived without regard
to the transactions contemplated hereby to the extent permitted by such policies. In accordance with this Agreement the applicable Transferor shall transition the administration of the Transferred Policies and related programs noted on
Schedule D to the Transferee indicated on Schedule D (or such other entity designated by the applicable Transferee) and the Transferee shall pay the costs and fees of the Transferor during such transition as provided in Article IV and
Schedule A. 
 Section 5.4. Claims Made Policies. With respect to the Transferred Policies,
each Transferee agrees that if it obtains or maintains any insurance coverage after the date of the Distribution for matters occurring prior to that time (e.g., a claims made directors and officers insurance policy) it will also obtain or maintain
such coverage for the applicable Transferor, and its subsidiaries, subject to the Transferor’s payment of the fees and costs in connection therewith as provided in this Agreement. 

  
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 Section 5.5. Post-Distribution Claims for Pre-Distribution Events. In the event that a claim is made after the Distribution for an event that occurred prior to the Distribution, and such claim arises out of: (a) the Spinco Business (as
defined in the Distribution Agreement), the parties will work together in good faith to ensure that such claim is made or caused to be made under the appropriate Existing Policy (whether transferred or not), that the expenses (if any) related to
such a claim (e.g., payment of deductibles or expenses/recoveries not covered by the applicable Existing Policy) are borne by Entertainco, and the proceeds (if any) shall be for the benefit of Entertainco (or as otherwise mutually agreed by the
parties, with the intent being achieving a fair and equitable result); (b) the MSG Business (as defined in the Distribution Agreement), the parties will work together in good faith to ensure that such claim is made or caused to be made under
the appropriate Existing Policy (whether transferred or not), that the expenses (if any) related to such a claim (e.g., payment of deductibles or expenses/recoveries not covered by the applicable Existing Policy) are borne by Sportsco, and the
proceeds (if any) shall be for the benefit of Sportsco (or as otherwise mutually agreed by the parties, with the intent being achieving a fair and equitable result); or (c) corporate matters of the
pre-Distribution consolidated business that generally impact the MSG Business and Spinco business equally (e.g., D&O), or is the result of an action of a third-party and such action impacts the pre-Distribution consolidated business equally or indiscriminately (e.g., Cyber & Media), the parties will work together in good faith to ensure that such claim is made or caused to be made under the
appropriate Existing Policy (whether transferred or not), that the expenses (if any) related to such a claim (e.g., payment of deductibles or expenses/recoveries not covered by the applicable Existing Policy) are borne by Sportsco, and the proceeds
(if any) shall be for the benefit of Sportsco (or as otherwise mutually agreed by the parties, with the intent being achieving a fair and equitable result). 

Section 5.6. Audits and Adjustments. With respect to the Transferred Policies, each Transferee agrees
that it will reimburse the applicable Transferor under this Agreement for any additional premiums or other amounts owing to any Third Party as a result of any audit or similar procedure by a Third Party, to the extent that such additional premiums
or amounts owing relate to Transferee or any of its subsidiaries during the period Transferee or such subsidiaries were covered by the relevant insurance policy. 

Section 5.7. No Assignment or Waiver. This Agreement is not intended as an attempted assignment of any
policy of insurance or as a contract of insurance and shall not be construed to waive any right or remedy of any Transferee in respect of any insurance policy or any other contract or policy of insurance. 

Section 5.8. No Limitation on Sportsco Insurance. Nothing in this Agreement shall be deemed to
restrict a Transferor from acquiring at its own expense any other insurance policy in respect of any liabilities or covering any period. 

Section 5.9. Scope. The provisions of this Article V shall not apply to insurance practices or
policies relating to health and welfare plans or any other employee benefit arrangement. For the avoidance of doubt, the provisions of Article V apply to insurance practices and policies relating to workers’ compensation and the foregoing
sentence does not limit the application of Article V to such practices and policies. 

  
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 ARTICLE VI 

INDEMNIFICATION 

Section 6.1. Indemnification of Party Receiving Services. (a) Entertainco agrees to
indemnify, defend and hold Sportsco harmless from and against any Loss to which Sportsco may become subject arising out of, by reason of or otherwise in connection with the provision hereunder by Entertainco of Entertainco Services, other than
Losses resulting from Sportsco’s gross negligence, willful misconduct or breach of its obligations pursuant to this Agreement. Notwithstanding any provision in this Agreement to the contrary, Entertainco shall not be liable under this
Section 6.1 for any consequential, special or punitive damages (including but not limited to lost profits), except to the extent that such consequential, special or punitive damages relate to a Loss resulting from a Third
Party Claim (as defined below). 
 (b) Sportsco agrees to indemnify, defend and hold Entertainco harmless from and against any Loss to which
Entertainco may become subject arising out of, by reason of or otherwise in connection with the provision hereunder by Sportsco of Sportsco Services, other than Losses resulting from Entertainco’s gross negligence, willful misconduct or breach
of its obligations pursuant to this Agreement. Notwithstanding any provision in this Agreement to the contrary, Sportsco shall not be liable under this Section 6.1 for any consequential, special or punitive damages
(including but not limited to lost profits), except to the extent that such consequential, special or punitive damages relate to a Loss resulting from a Third Party Claim (as defined below). 

Section 6.2. Indemnification of Party Providing Services. (a) Sportsco agrees to
indemnify, defend and hold Entertainco harmless from and against any Loss to which Entertainco may become subject arising out of, by reason of or otherwise in connection with, the provision hereunder by Entertainco of Entertainco Services to
Sportsco where such Losses resulted from Sportsco’s gross negligence, willful misconduct or breach of its obligations pursuant to this Agreement. Notwithstanding any provision in this Agreement to the contrary, Sportsco shall not be liable
under this Section 6.2 for any consequential, special or punitive damages (including but not limited to lost profits), except to the extent that such consequential, special or punitive damages relate to a Loss resulting
from a Third Party Claim (as defined below). 
 (b) Entertainco agrees to indemnify, defend and hold Sportsco harmless from and against any
Loss to which Sportsco may become subject arising out of, by reason of or otherwise in connection with the provision hereunder by Sportsco of Sportsco Services to Entertainco where such Losses resulted from Entertainco’s gross negligence,
willful misconduct or breach of its obligations pursuant to this Agreement. Notwithstanding any provision in this Agreement to the contrary, Entertainco shall not be liable under this Section 6.2 for any consequential,
special or punitive damages (including but not limited to lost profits), except to the extent that such consequential, special or punitive damages relate to a Loss resulting from a Third Party Claim (as defined below). 

  
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 Section 6.3. Third Party Claims. (a) If a claim
or demand is made against Sportsco or Entertainco (each, an “Indemnitee”) by any Third Party (a “Third Party Claim”) as to which such Indemnitee is entitled to indemnification pursuant to this Agreement, such
Indemnitee shall notify the party which is or may be required pursuant to Section 6.1 or Section 6.2 hereof to make such indemnification (the “Indemnifying Party”) in writing, and
in reasonable detail, of the Third Party Claim promptly and in any event by the date (the “Outside Notice Date”) that is the 15th Business Day after receipt by such Indemnitee of written notice of the Third Party Claim;
provided, however, that failure to give such notification shall not affect the indemnification provided hereunder except to the extent the Indemnifying Party shall have been actually prejudiced as a result of such failure (except that the
Indemnifying Party shall not be liable for any expenses incurred during the period beginning immediately after the Outside Notice Date and ending on the date that the Indemnitee gives the required notice). Thereafter, the Indemnitee shall deliver to
the Indemnifying Party, promptly (and in any event within ten Business Days) after the Indemnitee’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnitee relating to the Third Party Claim.
Notwithstanding anything to the contrary contained herein, Sportsco shall not be required to provide notice to Entertainco for Third Party Claims for which Entertainco is providing legal support as part of the Entertainco Services to the extent that
Entertainco has received notice in such capacity. 
 (b) If a Third Party Claim is made against an Indemnitee, the Indemnifying Party shall
be entitled to participate in the defense thereof and, if it so chooses and acknowledges in writing its obligation to indemnify the Indemnitee therefor, to assume the defense thereof with counsel selected by the Indemnifying Party, provided,
however, that such counsel is not reasonably objected to by the Indemnitee. Should the Indemnifying Party so elect to assume the defense of a Third Party Claim, the Indemnifying Party shall, within 30 days (or sooner if the nature of the Third
Party Claim so requires), notify the Indemnitee of its intent to do so, and the Indemnifying Party shall thereafter not be liable to the Indemnitee for legal or other expenses subsequently incurred by the Indemnitee in connection with the defense
thereof; provided, however, that such Indemnitee shall have the right to employ counsel to represent such Indemnitee if, in such Indemnitee’s reasonable judgment, a conflict of interest between such Indemnitee and such
Indemnifying Party exists in respect of such claim which would make representation of both such parties by one counsel inappropriate, and in such event the fees and expenses of such separate counsel shall be paid by such Indemnifying Party. If the
Indemnifying Party assumes such defense, the Indemnitee shall have the right to participate in the defense thereof and to employ counsel, subject to the proviso of the preceding sentence, at its own expense, separate from the counsel employed by the
Indemnifying Party, it being understood that the Indemnifying Party shall control such defense. The Indemnifying Party shall be liable for the fees and expenses of counsel employed by the Indemnitee for any period during which the Indemnifying Party
has failed to assume the defense thereof (other than during the period prior to the time the Indemnitee shall have given notice of the Third Party Claim as provided above). If the Indemnifying Party so elects to assume the defense of any Third Party
Claim, all of the Indemnitees shall cooperate with the Indemnifying Party in the defense or prosecution thereof, including by providing or causing to be provided agreements, documents, books, records, files and witnesses as soon as reasonably
practicable after receiving any request therefor from or on behalf of the Indemnifying Party, except to the extent that providing or causing the foregoing to be provided would constitute a waiver of any Indemnitee’s attorney-client privilege.

  
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 (c) If the Indemnifying Party acknowledges in writing responsibility under this Article VI
for a Third Party Claim, then in no event will the Indemnitee admit any liability with respect to, or settle, compromise or discharge, any Third Party Claim without the Indemnifying Party’s prior written consent; provided,
however, that the Indemnitee shall have the right to settle, compromise or discharge such Third Party Claim without the consent of the Indemnifying Party if the Indemnitee releases the Indemnifying Party from its indemnification obligation
hereunder with respect to such Third Party Claim and such settlement, compromise or discharge would not otherwise adversely affect the Indemnifying Party. If the Indemnifying Party acknowledges in writing liability for a Third Party Claim, the
Indemnitee will agree to any settlement, compromise or discharge of a Third Party Claim that the Indemnifying Party may recommend and that by its terms obligates the Indemnifying Party to pay the full amount of the liability in connection with such
Third Party Claim and releases the Indemnitee completely in connection with such Third Party Claim and that would not otherwise adversely affect the Indemnitee. If an Indemnifying Party elects not to assume the defense of a Third Party Claim, or
fails to notify an Indemnitee of its election to do so as provided herein, such Indemnitee may compromise, settle or defend such Third Party Claim. 

(d) Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to assume the defense of any Third Party Claim (and shall be
liable for the fees and expenses of counsel incurred by the Indemnitee in defending such Third Party Claim) if the Third Party Claim seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnitee
which the Indemnitee reasonably determines, after conferring with its counsel, cannot be separated from any related claim for money damages. If such equitable relief or other relief portion of the Third Party Claim can be so separated from that for
money damages, the Indemnifying Party shall be entitled to assume the defense of the portion relating to money damages. 
 (e) In the event
and to the extent of payment by an Indemnifying Party to any Indemnitee in connection with any Third-Party Claim, such Indemnifying Party shall be subrogated to and shall stand in the place of such Indemnitee as to any events or circumstances in
respect of which such Indemnitee may have any right or claim relating to such Third-Party Claim against any claimant or plaintiff asserting such Third-Party Claim. Such Indemnitee shall cooperate with such Indemnifying Party in a reasonable manner,
and at the cost and expense of such Indemnifying Party, in prosecuting any subrogated right or claim. 
 (f) Entertainco and Sportsco shall
cooperate as may reasonably be required in connection with the investigation, defense and settlement of any Third-Party Claim. In furtherance of this obligation, the parties agree that if an Indemnifying Party chooses to defend or to compromise or
settle any Third-Party Claim, Sportsco or Entertainco, as the case may be, shall use its commercially reasonable efforts to make available to the other party, upon written request, their former and then current directors, officers, employees and
agents and those of their subsidiaries as witnesses and any records or other documents within its control or which it otherwise has the ability to make available, to the extent that (i) any such Person, records or other documents may reasonably
be required in connection with such defense, settlement or compromise and (ii) making such Person, records or other documents so available would not constitute a waiver of the attorney-client privilege of Sportsco or Entertainco, as the case
may be. At the request of an Indemnifying Party, an Indemnitee shall enter into a reasonably acceptable joint defense agreement. 

  
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 (g) The remedies provided in this Article VI shall be cumulative and shall not preclude
assertion by any Indemnitee of any other rights or the seeking of any and all other remedies against any Indemnifying Party. 

Section 6.4. Indemnification Payments. (a) Indemnification required by this Article VI shall
be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or any Loss is incurred. If the Indemnifying Party fails to make an indemnification payment required by this
Article VI within 30 days after receipt of a bill therefor or notice that a Loss has been incurred, the Indemnifying Party shall also be required to pay interest on the amount of such indemnification payment, from the date of receipt of
the bill or notice of the Loss to, but not including the date of payment, at the Prime Rate. 
 (b) The amount of any claim by an Indemnitee
under this Agreement shall be (i) reduced to reflect any actual tax savings or insurance proceeds received by any Indemnitee that result from the Losses that gave rise to such indemnity, and (ii) increased by an amount equal to any tax
cost incurred by any Indemnitee that results from receipt of payments under this Article VI. 
 Section 6.5.
Survival. The parties’ obligations under this Article VI shall survive the termination of this Agreement. 

ARTICLE VII 

COOPERATION; CONFIDENTIALITY; TITLE 

Section 7.1. Good Faith Cooperation; Consents. Each party shall use commercially reasonable efforts to
cooperate with the other party in all matters relating to the provision and receipt of the Services. Such cooperation shall include, but not be limited to, exchanging information, providing electronic access to systems used in connection with the
Services, performing true-ups and adjustments and obtaining all consents, licenses, sublicenses or approvals necessary to permit each party to perform its obligations hereunder. Sportsco and Entertainco shall
maintain reasonable documentation related to the Services and cooperate with each other in making such information available as needed. 

Section 7.2. Confidentiality. Each party shall keep confidential from Third Parties the Schedules to
this Agreement and all non-public information received from the other party regarding the Services, including, without limitation, any information received with respect to products and services of Sportsco or
Entertainco, and to use such information only for the purposes set forth in this Agreement unless (i) otherwise agreed to in writing by the party from which such information was received, (ii) required by applicable law, regulation or any
securities exchange (in which case the parties shall cooperate in seeking to obtain a protective order or other arrangement pursuant to which the confidentiality of such information is preserved) or (iii) mandated by either or both of the NBA
or NHL pursuant to applicable League Rules; provided that to the extent disclosure is required and permitted under the terms of clauses (ii) or (iii) of this Section 7.2, the disclosing party shall provide reasonable advance notice to the non-disclosing party of such required disclosure. The covenants in this Article VII shall survive any termination of this Agreement for a period of three (3) years from the date such termination becomes
effective. 

  
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 Section 7.3. Internal Use; Title, Copies, Return.
Except to the extent inconsistent with the express terms of the Distribution Agreement and any Ancillary Agreement other than this Agreement, each party agrees that: 

(a) title to all systems used in performing any Service provided hereunder shall remain in the party providing such Service or its Third Party
vendors; and 
 (b) to the extent the provision of any Service involves intellectual property, including without limitation software
programs or patented or copyrighted material, or material constituting trade secrets, the recipient of such Service shall not copy, modify, reverse engineer, decompile or in any way alter any of such material, or otherwise use such material in a
manner inconsistent with the terms and provisions of this Agreement, without the express written consent of the party providing such Service; and upon the termination of any Service, the recipient of such Service shall return to the party providing
such Service, as soon as practicable, any equipment or other property of the party providing such Service relating to such Service which is owned or leased by the party providing such Service and is or was in its possession or control. 

ARTICLE VIII 
 TERM

 Section 8.1. Duration. (a) Except as provided in Sections 4.6, 6.5, 7.2, 8.2, 8.3,
8.4 and 8.5, the term of this Agreement shall commence on the date hereof (the “Commencement Date”) and shall continue in full force and effect until the earlier of (i) the date that is the day prior to the second anniversary of the
Commencement Date, unless otherwise mutually agreed by the parties and (ii) the earlier termination of all Services in accordance with Section 4.5 or 8.1(b). 

(b) Each party acknowledges that the purpose of this Agreement is for Entertainco to provide the Entertainco Services to Sportsco on an
interim basis until Sportsco can perform the Entertainco Services for itself, and for Sportsco to provide the Sportsco Services to Entertainco on an interim basis until Entertainco can perform the Sportsco Services for itself. As Sportsco becomes
self-sufficient or engages other sources to provide any Entertainco Service, Sportsco shall be entitled to release Entertainco from providing any or all of the Entertainco Services hereunder by delivering a written notice thereof to Entertainco at
least twenty (20) Business Days prior to the effective date of release of such Entertainco Service(s). At the end of such twenty (20) Business Day period (or such shorter period as may be agreed by the parties), Entertainco shall
discontinue the provision of the Entertainco Services specified in such notice and any such Entertainco Services shall be excluded from this Agreement, Schedule A shall be deemed to be amended accordingly, and this Agreement shall be deemed to
be terminated with respect to such Entertainco Service. Entertainco shall also be entitled to release Sportsco from providing any or all of the Sportsco Services hereunder by delivering a written notice thereof to

  
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Sportsco at least twenty (20) Business Days prior to the effective date of release of such Sportsco Service(s). At the end of such twenty (20) Business Day period (or such shorter
period as may be agreed by the parties), Sportsco shall discontinue the provision of the Sportsco Services specified in such notice and any such Sportsco Services shall be excluded from this Agreement, Schedule B shall be deemed to be amended
accordingly, and this Agreement shall be deemed to be terminated with respect to such Sportsco Service. 

Section 8.2. Early Termination by Entertainco. Entertainco may terminate this Agreement by
giving written notice to Sportsco under the following circumstances: 
 (a) if Sportsco shall default in the performance of any of its
material obligations under this Agreement, and such default or breach shall continue and not be remedied for a period of thirty (30) days after Entertainco has given written notice to Sportsco specifying such default and requiring it to be
remedied; 
 (b) if a Bankruptcy Event has occurred with respect to Sportsco; or 

(c) if a Change of Control of Sportsco has occurred. 

Section 8.3. Early Termination by Sportsco. Sportsco may terminate this Agreement by giving
written notice to Entertainco under the following circumstances: 
 (a) if Entertainco shall default in the performance of any of its
material obligations under this Agreement and such default shall continue and not be remedied for a period of thirty (30) days after Sportsco has given written notice to Entertainco specifying such default and requiring it to be remedied; 

(b) if a Bankruptcy Event has occurred with respect to Entertainco; or 

(c) if a Change of Control of Entertainco has occurred. 

Section 8.4. Termination of MSGN Services Agreement. As of the date hereof, Entertainco is party to a
Services Agreement (as such agreement may be amended, modified, extended, replaced or supplemented, the “MSGN Services Agreement”) with MSGN Holdings, L.P (“MSGN”). Sportsco and Entertainco acknowledge and agree that the fees set
forth on Schedule A contemplate the payment for certain services by MSGN pursuant to that MSGN Services Agreement (i.e., certain fees contemplate expenses being shared by three parties, rather than two), and in the event that the MSGN
Services Agreement expires, is terminated, or otherwise ceases to exist (an “MSGN Termination Event”), the parties agree that certain fees on Schedule A may require adjustment to reflect payment by two parties instead of three for
services that are also provided for under the MSGN Services Agreement (the “Similar Services”). In the event of an MSGN Termination Event, (a) Entertainco shall promptly notify Sportsco of such MSGN Termination Event, and
(b) within fifteen (15) days of such MSGN Termination Event, Entertainco shall deliver Sportsco a revised Schedule A, identifying the Similar Services, and an approximate pro rata distribution of fees (based on Sportsco’s
fees reflected on Schedule A as of the date of the MSGN Termination Event compared to Entertainco’s fees/expenses for the same service as of the same date) previously paid for by 

  
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MSGN for such Similar Service under the MSGN Services Agreement. Entertainco shall use reasonable efforts to adjust anticipated expenses to reflect any reduction in headcount or other needs as a
result of the MSGN Termination Event, in a way that is reasonable and generally consistent with MSG’s past practices. The revised Schedule A reflecting the pro rata allocation to Sportsco shall automatically become effective the
later of (x) forty-five (45) days from the MSGN Termination Event or (y) thirty (30) days from the delivery of such revised Schedule A to Sportsco, unless, prior to that date, Sportsco notifies Entertainco that it
desires to terminate any Similar Service identified, and, in either case, Schedule A shall be amended accordingly, with such revised pricing and/or termination being retroactive to the date of the MSGN Termination Event. 

Section 8.5. Suspension Due to Force Majeure. In the event the performance by either Sportsco or
Entertainco of its duties or obligations hereunder is interrupted or interfered with by reason of any cause beyond its reasonable control including, but not limited to, fire, storm, flood, earthquake, explosion, war, strike or labor disruption,
rebellion, insurrection, quarantine, act of God, boycott, embargo, shortage or unavailability of supplies, riot, or governmental law, regulation or edict (collectively, “Force Majeure Events”), the party affected by such Force
Majeure Event shall not be deemed to be in default of this Agreement by reason of its non-performance due to such Force Majeure Event, but shall give notice to the other party of the Force Majeure Event and
the fee provided for in Section 4.1 shall be equitably adjusted to reflect the reduced performance. In such event, the party affected by such Force Majeure Event shall resume the performance of its duties and obligations hereunder as soon as
reasonably practicable after the end of the Force Majeure Event. 
 Section 8.6. Consequences of
Termination. In the event this Agreement expires or is terminated in accordance with this Article VIII, then (a) all Services to be provided will promptly cease, (b) each of Entertainco and Sportsco shall, upon request of the
other party, promptly return or destroy all non-public confidential information received from the other party in connection with this Agreement (including the return of all information received with respect to
the Services or products of Sportsco or Entertainco, as the case may be), without retaining a copy thereof (other than one copy for file purposes), and (c) each of Entertainco and Sportsco shall honor all credits and make any accrued and unpaid
payment to the other party as required pursuant to the terms of this Agreement, and no rights already accrued hereunder shall be affected. 

ARTICLE IX 
 RECORDS

 Section 9.1. Maintenance of Records. Each of the parties shall create and maintain full and
accurate books in connection with the provision of the Services, and all other records relevant to this Agreement, and upon reasonable notice from the other party shall make available for inspection and copy by such other party’s agents such
records during reasonable business hours. 

  
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 ARTICLE X 

DISPUTE RESOLUTION 

Section 10.1. Negotiation. In the event of a controversy, dispute or claim arising out of, in
connection with, or in relation to the interpretation, performance, nonperformance, validity or breach of this Agreement or otherwise arising out of, or in any way related to this Agreement or the transactions contemplated hereby, including, without
limitation, any claim based on contract, tort, statute or constitution (but excluding any controversy, dispute or claim arising out of any agreement relating to the use or lease of real property if any Third Party is a party to such controversy,
dispute or claim) (collectively, “Agreement Disputes”), the management of the parties shall negotiate in good faith for a reasonable period of time to settle such Agreement Dispute, provided, however, that such
reasonable period shall not, unless otherwise agreed by the parties in writing, exceed 30 days from the time the parties began such negotiations. 

Section 10.2. Continuity of Service and Performance. Unless otherwise agreed in writing, the parties
will continue to provide service and honor all other commitments under this Agreement during the course of any form of dispute resolution with respect to all matters not subject to such dispute, controversy or claim. 

Section 10.3. Other Remedies. Nothing in this Article X shall limit the right that any party may
otherwise have to seek to obtain (a) preliminary injunctive relief in order to preserve the status quo pending the resolution of a dispute or (b) temporary or permanent injunctive relief from any breach of any provisions of this Agreement.

 ARTICLE XI 
 NOTICES

 Section 11.1. Notices. All notices and other communications hereunder shall be in writing,
shall reference this Agreement and shall be emailed, hand delivered or mailed by registered or certified mail (return receipt requested) to the parties at the following addresses (or at such other address for a party as shall be specified by like
notice) and will be deemed given on the date on which such notice is received: 
 To Entertainco: 

MSG Sports & Entertainment, LLC (or, after the applicable name change, [_________]) 

Two Penn Plaza 
 New York, New
York 10121 
 Attention: President 

with a copy to: 
 MSG
Sports & Entertainment, LLC (or, after the applicable name change, [_________]) 
 Two Penn Plaza 

New York, New York 10121 

Attention: General Counsel 

  
 -17- 

 To Sportsco: 

MSG Sports, LLC (or, after the applicable name change, [_________]) 

Two Penn Plaza 
 New York, New
York 10121 
 Attention: President 

with a copy to: 
 MSG Sports,
LLC (or, after the applicable name change, [_________]) 
 Two Penn Plaza 

New York, New York 10121 

Attention: General Counsel 

ARTICLE XII 

MISCELLANEOUS 

Section 12.1. Taxes. Except as may otherwise be specifically provided herein, each party shall bear
all taxes, duties and other similar charges (and any related interest and penalties) imposed as a result of its receipt of Services under this Agreement. 

Section 12.2. Relationship of Parties. Nothing in this Agreement shall be deemed or construed by the
parties or any Third Party as creating the relationship of principal and agent, partnership or joint venture between the parties, it being understood and agreed that no provision contained herein, and no act of the parties, shall be deemed to create
any relationship between the parties other than the relationship of independent contractor nor be deemed to vest any rights, interest or claims in any third parties. 

Section 12.3. Complete Agreement; Construction. This Agreement, including the Schedules hereto, shall
constitute the entire agreement between the parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. In the event of any inconsistency between this
Agreement and any Schedule, the Schedule shall prevail. The rights and remedies of the parties herein provided shall be cumulative and in addition to any other or further remedies provided by law or equity. 

Section 12.4. Counterparts. This Agreement may be executed in one or more counterparts, all of which
shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each party and delivered to the other party. 

  
 -18- 

 Section 12.5. Waivers. The failure of any party to
require strict performance by the other party of any provision in this Agreement will not waive or diminish that party’s right to demand strict performance thereafter of that or any other provision hereof. 

Section 12.6. Amendments. This Agreement may not be modified or amended except by an agreement in
writing by each of the parties. 
 Section 12.7. Assignment. This Agreement shall not be assignable,
in whole or in part, by any party without the prior written consent of the other party, and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. 

Section 12.8. Successors and Assigns. The provisions to this Agreement shall be binding upon, inure to
the benefit of and be enforceable by the parties and their respective successors and permitted assigns. 

Section 12.9. Third Party Beneficiaries. This Agreement is solely for the benefit of the parties and
shall not be deemed to confer upon any other Person any remedy, claim, liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement.  

Section 12.10. Governing Law; League Rules. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York applicable to contracts made and to be performed in the State of New York. In addition, this Agreement is subject in all respects to all applicable League Rules. 

Section 12.11. Waiver of Jury Trial. The parties hereby irrevocably waive any and all right to trial
by jury in any legal proceeding arising out of or related to this Agreement or the transactions contemplated hereby. 

Section 12.12. Specific Performance. Subject to Article X, in the event of any actual or
threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the parties agree that the party who is or is to be thereby aggrieved shall have the right to specific performance and injunctive or other equitable
relief of its rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. For the avoidance of doubt, Entertainco acknowledges and agrees that at no
time during the term of this Agreement shall it seek to enjoin the playing of any professional sporting event involving any team that is owned, in whole or in part, directly or indirectly, by Sportsco for
non-compliance by Sportsco of any terms of this Agreement. The parties agree that the remedies at law for any breach or threatened breach of this Agreement, including monetary damages, are inadequate
compensation for any loss, that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any requirements for the securing or posting of any bond with such remedy are hereby waived. 

  
 -19- 

 Section 12.13. Severability. In the event any one or
more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected
or impaired thereby. The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions. 
 Section 12.14. Provisions Unaffected. Nothing contained in this
Agreement shall affect the rights and obligations of MSG and Sportsco Parent pursuant to the Distribution Agreement. 

Section 12.15. No Presumption. Neither Entertainco nor Sportsco shall be deemed to be the drafter of
this Agreement and no term or provision of this Agreement may be construed against any party on that basis. 

  
 -20- 

 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered on behalf of the
parties as of the date first herein above written. 
  

			
	 MSG SPORTS & ENTERTAINMENT, LLC

(To be renamed [_________])

 

			
		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

			
	 MSG SPORTS, LLC

(To be renamed [_________])

 

			
		
	By:	 	 
	 Name:
	 	
	 Title:

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