Document:

Exhibit 10.14

 

SETTLEMENT AGREEMENT

 

This Settlement Agreement
(“Agreement”), effective as of February 28, 2017 (the “Effective Date”), is entered into
by and among Scores Holding Company, Inc. (“Scores”), Swan Media Group, Inc. (“Swan”or the
“Licensee”) and Robert M. Gans (“Gans”). Scores, Swan and Gans shall be referred to collectively
herein as the “Parties” or each individually as a “Party”.

 

WHEREAS, Gans is
the President, Chief Executive Officer, member of the Board of Directors and majority shareholder of Scores;

 

WHEREAS, Gans is
also a majority owner of the equity of Swan (80%);

 

WHEREAS, Scores
entered into a licensing agreement (the “Licensing Agreement”) with the Licensee for, among other things, use
of the Scores brand name by the Licensee. Pursuant to the Licensing Agreement, the Licensee is required, among other things, to
pay royalties to Scores;

 

WHEREAS, as of the
Effective Date, Swan owes Scores an aggregate of $166,000.00 in unpaid royalties and other fees (the “Unpaid Royalties”);

 

WHEREAS, in addition
to its past-due Unpaid Royalties, Swan continues to owe monthly royalty payments to Scores under its Licensing Agreement;

 

WHEREAS, Swan currently
operates at a loss;

 

WHEREAS, the Parties
now desire to settle all claims Scores may have against the Licensee in connection with the Unpaid Royalties; and

 

WHEREAS, Gans, as
the majority owner of the Licensee, will benefit from such a settlement.

 

NOW, THEREFORE,
in consideration of the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.          Settlement.

 

In full and final settlement
of any and all causes of action or claims that could have been asserted by Scores against the Licensee in connection with the Unpaid
Royalties, Swan shall pay to Scores approximately thirty percent (30%) of its Unpaid Royalties, equal to Fifty Thousand Dollars
($50,000) (the “Settlement Amount”).

 

     

     

    

 

The Settlement Amount shall
be payable pursuant to a promissory note (the “Note”), which shall bear simple interest at the rate of four
percent (4%) per annum, in ten (10), consecutive monthly installments, commencing on March 1, 2017. A payment schedules for the
Note is attached hereto as Exhibit A, and a form of the Note is attached hereto as Exhibit B.

 

2.          Guarantee.

 

In further consideration
of this Agreement and the Note, simultaneously herewith, Gans is entering into a Guaranty (the “Guaranty,” and
collectively with the Note and this Agreement, the “Settlement Documents”), pursuant to which Gans is guaranteeing
the payment of the Licensee’s obligations under the Settlement Documents.

 

3.          Failure
to Remain Current.

 

The Note shall provide
that failure to remain current in the Licensee’s obligations under its License Agreement shall constitute an Event of Default.

 

4.          Prepayment.

 

Licensee may prepay its
Settlement Amount, in whole or in part, without penalty. In the case of partial prepayment, prepayment shall first be applied to
accrued unpaid interest, and then to principal.

 

5.          Release
by Scores.

 

In consideration of the
terms and conditions of this Agreement, and except with respect to the obligations of the Licensee under this Agreement and the
other Settlement Documents, Scores and its respective affiliates, successors, assigns, beneficiaries, heirs, executors, administrators,
agents, employees, officers, directors, partners, members, representatives, attorneys, and all persons, companies and/or affiliates
acting by, through and under or in concert with Scores, whether former or current (collectively, the “Related Parties”),
hereby irrevocably and unconditionally releases, remises, and forever discharges, the Licensee and its Related Parties, of and
from any and all actions, causes of action, suits, debts, charges, complaints, claims, liabilities, obligations, promises, agreements,
controversies, damages, expenses, and demands whatsoever, in law or equity, which Scores and its Related Parties ever had, now
has or hereafter can, shall or may have had, against the Licensee and its Related Parties, whether known or unknown, by reason
of any matter, cause, or thing whatsoever from the beginning of the world to the Effective Date arising out of or related to the
Unpaid Royalties, which are the subject of this Agreement.

 

6.          Representations
and Warranties.

 

Each Party represents and
warrants that it has read this Agreement and understands its contents and that they enter into this Agreement knowingly and voluntarily
and without duress. Each Party further represents and warrants that it has been fully and adequately represented by counsel of
its choosing with respect to the preparation, negotiation, execution, and delivery of this Agreement, that it has the power and
authority to execute this Agreement, that it has not assigned any of its claims, that it has not relied on any statement or representation
by any other person, and that by entering into this Agreement, it has waived the opportunity to proceed to a trial.

 

    	 	2	 

     

    

 

7.          Choice
of Law; Jurisdiction; Prevailing Party Legal Fees.

 

This Agreement shall be
governed by and construed in accordance with the laws of the State of New York without giving effect to the conflicts of law principles
thereof. This Agreement may be enforced solely in, and in connection with, any action or proceeding arising out of or relating
to the transactions contemplated hereby. The Parties irrevocably consent to the exclusive jurisdiction and venue of the state or
federal courts located in the County of New York. In any suit, action, or proceeding to enforce this Agreement, the prevailing
party shall be entitled to recover its costs and disbursements of enforcement including its reasonable attorneys’ fees.

 

8.          Notice.

 

Any notices, requests,
demands and other communications under this Agreement or any of the other Settlement Documents shall be in writing to the address
set forth below (or at such other address, email address or facsimile for a party as shall be specified by the notice) and shall
be deemed to have been duly given if (a) delivered by hand and receipted for by the party to which said notice or other communication
shall have been directed, (b) actually receipted by the party to which it is addressed, however transmitted, (c) two (2) business
days after being sent by reputable overnight courier prepaid for delivery in no more than two (2) business days; or (d) sent by
facsimile transmission or electronic mail:

 

	If to Swan:	Swan Media Group, Inc.
	 	c/o Metropolitan Lumber & Hardware
	 	617 11th Avenue
	 	New York, NY 10036
	 	Attn: Robert M. Gans
	 	 
	If to Gans:	Robert M. Gans
	 	c/o Metropolitan Lumber & Hardware
	 	617 11th Avenue
	 	New York, NY 10036
	 	 
	If to Payee:	Scores Holding Company, Inc.
	 	617 11th Avenue, 2nd Floor
	 	New York, NY 10036
	 	Attn: Howard Rosenbluth, Chief Financial Officer

 

    	 	3	 

     

    

 

9.          No
Admissions.

 

This Agreement does not contain or constitute
any admission, concession or agreement by any Party concerning liability, wrongdoing, or the merits of any issues related hereto,
and this Agreement shall not be construed as constituting or containing any such admission, concession or agreement. This Agreement,
any assertion of fact set forth herein, and/or any action taken in furtherance of this Agreement shall not be offered or received
in evidence in any action or proceeding, other than to enforce this Agreement or to carry out the terms of this Agreement.

 

10.        Binding
Effect.

 

The terms and conditions
of this Agreement shall inure to the benefit of and be binding upon the Parties and their respective successors and assigns.

 

11.        Entire
Agreement; No Oral Modification.

 

This Agreement contains
the final, integrated, and entire agreement between the Parties, and there are no other promises, agreements, conditions, undertakings,
covenants, warranties, representations, either written or oral, express or implied, between the Parties, with respect to the subject
matter hereof. All prior agreements between the Parties with respect to the subject matter hereof are merged herein. No change
to or modification of this Agreement will be valid unless the same be in writing and signed by both Parties.

 

12.        Severability.

 

Every part, term, or provision
of this Agreement is hereby declared to be independent of, and separable from, every other part, term or provision of this Agreement.
If any court of competent jurisdiction concludes that any part, term, or provision of this Agreement is illegal, unenforceable,
or in conflict with any state, federal, or any other applicable law, that holding shall be without effect as to the validity or
enforceability of any other part, term, or provision of this Agreement. It is the intention of the Parties hereto that in lieu
of each part, term, or provision of the Agreement which is determined to be illegal, unenforceable, or in conflict with any state,
federal, or any other applicable law, there shall be added, as part of this Agreement, such an alternative part, term, or provision
as may be valid or enforceable but otherwise as close to the applicable original part, term, or provision as possible.

 

13.        Joint
Preparation.

 

This Agreement has been
jointly prepared by the Parties, and no ambiguity will be construed against any other Party based on the identity of the author
or authors of this Agreement.

 

    	 	4	 

     

    

 

14.        Further
Assurances.

 

The parties hereto agree
to take such actions and execute and deliver such other instruments and documents as may be reasonably necessary to effectuate
the purpose of this Agreement.

 

    	 	5	 

     

    

 

15.        Counterparts.

 

This Agreement may be executed
in one or more counterparts, and by PDF, facsimile, or similar transmission, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	6	 

     

    

 

IN WITNESS WHEREOF,
each of the Parties hereto has caused this Agreement to be executed and delivered as of the date first set forth above.

 

	 	SCORES HOLDING COMPANY, INC.
	 	 	 
	 	By:	/s/ Howard Rosenbluth
	 	Name: Howard Rosenbluth
	 	Title: Chief Financial Officer
	 	 
	 	SWAN MEDIA GROUP, INC.
	 	 	 
	 	By:	/s/ Robert Gans
	 	Name: Robert Gans
	 	Title: Authorized Signatory
	 	 
	 	/s/ Robert M. Gans
	 	ROBERT M. GANS

 

     

     

    

 

Exhibit A

 

	 	 	 	 	Swan	 	 
	 	 	 	 	 	 	 	 
	Amount Owed 2014	 	 	134,000.00	 	 
	Amount Owed 2015	 	 	15,000.00	 	 
	Amount Owed 2016	 	 	15,000.00	 	 
	Amount Owed 2017	 	 	2,000.00	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	166,000.00	 	 
	 	 	 	 	 	 	 	 
	Settlement @ 30%	 	 	50,000	 	 
	 	 	 	 	 	 	 	 
	Payment Schedule	 	 	 	 	 
	1	 	03/01/17	 	 	7,500.00	 	Plus Current
	2	 	04/01/17	 	 	5,000.00	 	Plus Current
	3	 	05/01/17	 	 	5,000.00	 	Plus Current
	4	 	06/01/17	 	 	5,000.00	 	Plus Current
	5	 	07/01/17	 	 	5,000.00	 	Plus Current
	6	 	08/01/17	 	 	5,000.00	 	Plus Current
	7	 	09/01/17	 	 	5,000.00	 	Plus Current
	8	 	10/01/17	 	 	5,000.00	 	Plus Current
	9	 	11/01/17	 	 	5,000.00	 	Plus Current
	10	 	12/01/17	 	 	3,187.44	 	Plus Current
	 	 	 	 	 	50,687.44	 	 

 

     

     

    

 

Exhibit B

 

Form of NoteExhibit 10.15

 

SETTLEMENT AGREEMENT

 

This Settlement Agreement
(“Agreement”), effective as of February 28, 2017 (the “Effective Date”), is entered into
by and among Scores Holding Company, Inc. (“Scores”), Star Light Events LLC (“Star Light”or
the “Licensee”) and Robert M. Gans (“Gans”). Scores, Star Light and Gans shall be referred
to collectively herein as the “Parties” or each individually as a “Party”.

 

WHEREAS, Gans is
the President, Chief Executive Officer, member of the Board of Directors and majority shareholder of Scores;

 

WHEREAS, Gans is
also a majority owner of the equity of Starlight (92%);

 

WHEREAS, Scores
entered into a licensing agreement (the “Licensing Agreement”) with the Licensee for, among other things, use
of the Scores brand name by the Licensee. Pursuant to the Licensing Agreement, the Licensee is required, among other things, to
pay royalties to Scores;

 

WHEREAS, as of the
Effective Date, Star Light owes Scores an aggregate of $250,000.00 in unpaid royalties and other fees (the “Unpaid Royalties”);

 

WHEREAS, Star Light
is currently closed and has no ongoing operations;

 

WHEREAS, the Parties
now desire to settle all claims Scores may have against the Licensee in connection with the Unpaid Royalties; and

 

WHEREAS, Gans, as
the majority owner of the Licensee, will benefit from such a settlement.

 

NOW, THEREFORE,
in consideration of the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.           Settlement.

 

In full and final settlement
of any and all causes of action or claims that could have been asserted by Scores against the Licensee in connection with the Unpaid
Royalties, Star Light shall pay to Scores thirty percent (30%) of its Unpaid Royalties, equal to Seventy Fifty Thousand Dollars
($75,000) (the “Settlement Amount”).

 

The Settlement Amount shall
be payable pursuant to a promissory note (the “Note”), which shall bear simple interest at the rate of four
percent (4%) per annum, in ten (10), consecutive monthly installments, commencing on March 1, 2017. A payment schedules for the
Note is attached hereto as Exhibit A, and a form of the Note is attached hereto as Exhibit B.

 

     

     

    

 

2.           Guarantee.

 

In further consideration
of this Agreement and the Note, simultaneously herewith, Gans is entering into a Guaranty (the “Guaranty,” and
collectively with the Note and this Agreement, the “Settlement Documents”), pursuant to which Gans is guaranteeing
the payment of the Licensee’s obligations under the Settlement Documents.

 

3.           Prepayment.

 

Licensee may prepay its
Settlement Amount, in whole or in part, without penalty. In the case of partial prepayment, prepayment shall first be applied to
accrued unpaid interest, and then to principal.

 

4.           Release
by Scores.

 

In consideration of the
terms and conditions of this Agreement, and except with respect to the obligations of the Licensee under this Agreement and the
other Settlement Documents, Scores and its respective affiliates, successors, assigns, beneficiaries, heirs, executors, administrators,
agents, employees, officers, directors, partners, members, representatives, attorneys, and all persons, companies and/or affiliates
acting by, through and under or in concert with Scores, whether former or current (collectively, the “Related Parties”),
hereby irrevocably and unconditionally releases, remises, and forever discharges, the Licensee and its Related Parties, of and
from any and all actions, causes of action, suits, debts, charges, complaints, claims, liabilities, obligations, promises, agreements,
controversies, damages, expenses, and demands whatsoever, in law or equity, which Scores and its Related Parties ever had, now
has or hereafter can, shall or may have had, against the Licensee and its Related Parties, whether known or unknown, by reason
of any matter, cause, or thing whatsoever from the beginning of the world to the Effective Date arising out of or related to the
Unpaid Royalties, which are the subject of this Agreement.

 

5.           Representations
and Warranties.

 

Each Party represents and
warrants that it has read this Agreement and understands its contents and that they enter into this Agreement knowingly and voluntarily
and without duress. Each Party further represents and warrants that it has been fully and adequately represented by counsel of
its choosing with respect to the preparation, negotiation, execution, and delivery of this Agreement, that it has the power and
authority to execute this Agreement, that it has not assigned any of its claims, that it has not relied on any statement or representation
by any other person, and that by entering into this Agreement, it has waived the opportunity to proceed to a trial.

 

    	 	2	 

     

    

 

6.           Choice
of Law; Jurisdiction; Prevailing Party Legal Fees.

 

This Agreement shall be
governed by and construed in accordance with the laws of the State of New York without giving effect to the conflicts of law principles
thereof. This Agreement may be enforced solely in, and in connection with, any action or proceeding arising out of or relating
to the transactions contemplated hereby. The Parties irrevocably consent to the exclusive jurisdiction and venue of the state or
federal courts located in the County of New York. In any suit, action, or proceeding to enforce this Agreement, the prevailing
party shall be entitled to recover its costs and disbursements of enforcement including its reasonable attorneys’ fees.

 

7.           Notice.

 

Any notices, requests,
demands and other communications under this Agreement or any of the other Settlement Documents shall be in writing to the address
set forth below (or at such other address, email address or facsimile for a party as shall be specified by the notice) and shall
be deemed to have been duly given if (a) delivered by hand and receipted for by the party to which said notice or other communication
shall have been directed, (b) actually receipted by the party to which it is addressed, however transmitted, (c) two (2) business
days after being sent by reputable overnight courier prepaid for delivery in no more than two (2) business days; or (d) sent by
facsimile transmission or electronic mail:

 

	If to Star Light:	Star Light Events LLC
	 	c/o Metropolitan Lumber & Hardware
	 	617 11th Avenue
	 	New York, NY 10036
	 	Attn: Robert M. Gans
	 	 
	If to Gans:	Robert M. Gans
	 	c/o Metropolitan Lumber & Hardware
	 	617 11th Avenue
	 	New York, NY 10036
	 	 
	If to Payee:	Scores Holding Company, Inc.
	 	617 11th Avenue, 2nd Floor
	 	New York, NY 10036
	 	Attn: Howard Rosenbluth, Chief Financial Officer

 

8.           No
Admissions.

 

This Agreement does not contain or constitute
any admission, concession or agreement by any Party concerning liability, wrongdoing, or the merits of any issues related hereto,
and this Agreement shall not be construed as constituting or containing any such admission, concession or agreement. This Agreement,
any assertion of fact set forth herein, and/or any action taken in furtherance of this Agreement shall not be offered or received
in evidence in any action or proceeding, other than to enforce this Agreement or to carry out the terms of this Agreement.

 

    	 	3	 

     

    

 

9.           Binding
Effect.

 

The terms and conditions
of this Agreement shall inure to the benefit of and be binding upon the Parties and their respective successors and assigns.

 

10.         Entire
Agreement; No Oral Modification.

 

This Agreement contains
the final, integrated, and entire agreement between the Parties, and there are no other promises, agreements, conditions, undertakings,
covenants, warranties, representations, either written or oral, express or implied, between the Parties, with respect to the subject
matter hereof. All prior agreements between the Parties with respect to the subject matter hereof are merged herein. No change
to or modification of this Agreement will be valid unless the same be in writing and signed by both Parties.

 

11.         Severability.

 

Every part, term, or provision
of this Agreement is hereby declared to be independent of, and separable from, every other part, term or provision of this Agreement.
If any court of competent jurisdiction concludes that any part, term, or provision of this Agreement is illegal, unenforceable,
or in conflict with any state, federal, or any other applicable law, that holding shall be without effect as to the validity or
enforceability of any other part, term, or provision of this Agreement. It is the intention of the Parties hereto that in lieu
of each part, term, or provision of the Agreement which is determined to be illegal, unenforceable, or in conflict with any state,
federal, or any other applicable law, there shall be added, as part of this Agreement, such an alternative part, term, or provision
as may be valid or enforceable but otherwise as close to the applicable original part, term, or provision as possible.

 

12.         Joint
Preparation.

 

This Agreement has been
jointly prepared by the Parties, and no ambiguity will be construed against any other Party based on the identity of the author
or authors of this Agreement.

 

13.         Further
Assurances.

 

The parties hereto agree
to take such actions and execute and deliver such other instruments and documents as may be reasonably necessary to effectuate
the purpose of this Agreement.

 

    	 	4	 

     

    

 

14.         Counterparts.

 

This Agreement may be executed
in one or more counterparts, and by PDF, facsimile, or similar transmission, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	5	 

     

    

 

IN WITNESS WHEREOF,
each of the Parties hereto has caused this Agreement to be executed and delivered as of the date first set forth above.

 

	 	SCORES HOLDING COMPANY, INC.
	 	 	 
	 	By:	/s/ Howard Rosenbluth
	 	Name: Howard Rosenbluth
	 	Title: Chief Financial Officer
	 	 
	 	STAR LIGHT EVENTS LLC
	 	 	 
	 	By:	/s/ Robert Gans
	 	Name: Robert Gans
	 	Title: Authorized Signatory
	 	 	 
	 	/s/ Robert M. Gans
	 	ROBERT M. GANS

 

     

     

    

 

Exhibit A

 

	 	 	 	 	Star Light	 
	 	 	 	 	 	 
	Amount Owed 2014	 	 	40,000.00	 
	Amount Owed 2015	 	 	120,000.00	 
	Amount Owed 2016	 	 	90,000.00	 
	Amount Owed 2017	 	 	0.00	 
	 	 	 	 	 	 	 
	 	 	 	 	 	250,000.00	 
	 	 	 	 	 	 	 
	Settlement @ 30%	 	 	75,000.00	 
	 	 	 	 	 	 	 
	Payment Schedule	 	 	 	 
	1	 	03/01/17	 	 	25,000.00	 
	2	 	04/01/17	 	 	6,000.00	 
	3	 	05/01/17	 	 	6,000.00	 
	4	 	06/01/17	 	 	6,000.00	 
	5	 	07/01/17	 	 	6,000.00	 
	6	 	08/01/17	 	 	6,000.00	 
	7	 	09/01/17	 	 	6,000.00	 
	8	 	10/01/17	 	 	6,000.00	 
	9	 	11/01/17	 	 	6,000.00	 
	10	 	12/01/17	 	 	2,794.53	 
	 	 	 	 	 	75,794.53	 

 

     

     

    

 

Exhibit B

 

Form of Note

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