Document:

Exhibit 4.5

 

DESCRIPTION OF SECURITIES REGISTERED PURSUANT
TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

AS OF DECEMBER 31, 2020

 

As of December 31, 2020, we had one class
of securities registered under Section 12 of the Securities Exchange Act of 1945, as amended, our Class A common stock. The
following is a summary of the material terms of our Class A common stock and is not intended to be a complete summary of the rights
and preferences of Class A common stock. The full text of our amended and restated articles of incorporation and amended and restated
bylaws are included as exhibits to the Form 10-K of which this exhibit is a part. You are encouraged to read the applicable provisions
of Nevada law, our amended and restated articles of incorporation and amended and restated bylaws in their entirety for a complete description
of the rights and preferences of our Class A common stock.

 

Common Stock

 

Our amended and restated articles of incorporation
authorize the issuance of 2,100,000,000 shares, of which 900,000,000 shares are shares of Class A common stock, par value $0.0001
per share, 900,000,000 shares are shares of Class B common stock, par value $0.0001 per share, and 300,000,000 shares are shares
of preferred stock, par value $0.0001 per share.

 

Class A Common Stock

 

Voting Rights

 

Holders of Class A common stock are entitled
to cast one vote per share of Class A common stock. Generally, holders of all classes of common stock vote together as a single class,
and an action is approved by stockholders if the number of votes cast in favor of the action exceeds the number of votes cast in opposition
to the action, while directors are elected by a plurality of the votes cast. Holders of Class A common stock will not be entitled
to cumulate their votes in the election of directors.

 

Dividend Rights

 

Holders of Class A common stock will share
ratably (based on the number of shares of Class A common stock held) if and when any dividend is declared by our Board of Directors
(the “Board”) out of funds legally available therefor, subject to restrictions, whether statutory or contractual (including
with respect to any outstanding indebtedness), on the declaration and payment of dividends and to any restrictions on the payment of dividends
imposed by the terms of any outstanding preferred stock or any class or series of stock having a preference over, or the right to participate
with, the Class A common stock with respect to the payment of dividends.

 

Liquidation, Dissolution and Winding Up

 

On the liquidation, dissolution, distribution
of assets or winding up of DraftKings, each holder of Class A common stock will be entitled, pro rata on a per share basis,
to all assets of DraftKings of whatever kind available for distribution to the holders of common stock, subject to the designations, preferences,
limitations, restrictions and relative rights of any other class or series of preferred stock of DraftKings then outstanding.

 

     

     

    

 

Other Matters

 

No shares of Class A common stock will be
subject to redemption (except as described below under “Redemption Rights and Transfer Restrictions with Respect to Capital Stock
held by Unsuitable Persons and Their Affiliates”) or have preemptive rights to purchase additional shares of Class A common
stock. Holders of shares of Class A common stock do not have subscription, redemption or conversion rights. All the outstanding shares
of Class A common stock are validly issued, fully paid and non-assessable.

 

Class B Common Stock

 

Issuance of Class B common stock with
Common Units

 

Shares of Class B common stock may be issued
only to, and registered in the name of, Mr. Robins and any entities wholly owned by Mr. Robins (including all subsequent successors,
assigns and permitted transferees) (collectively, “Permitted Class B Owners”).

 

Voting Rights

 

Holders of Class B common stock are entitled
to cast 10 votes per share of Class B common stock. Generally, holders of all classes of common stock vote together as a single class,
and an action is approved by stockholders if the number of votes cast in favor of the action exceeds the number of votes cast in opposition
to the action, while directors are elected by a plurality of the votes cast. Holders of Class B common stock will not be entitled
to cumulate their votes in the election of directors.

 

Dividend Rights

 

Holders of Class B common stock will not
participate in any dividend declared by the Board.

 

Liquidation Rights

 

On the liquidation, dissolution, distribution
of assets or winding up of DraftKings, holders of Class B common stock will not be entitled to receive any distribution of DraftKings
assets of whatever kind available until distribution has first been made to all holders of Class A common stock. Notwithstanding
this, due to the liquidation rights of holders of Class A common stock described above in which all assets of DraftKings of whatever
kind available will be distributed to holders of Class A common stock, no assets of DraftKings will be available for liquidating
distributions in respect of Class B common stock.

 

Transfers

 

Pursuant to our amended and restated articles
of incorporation, holders of Class B common stock are generally restricted from transferring such shares, other than to a Permitted
Class B Owner or in connection with a divorce or domestic relations order or decree.

 

Mandatory Cancellation

 

Each share of Class B common stock will be
(1) automatically canceled for no consideration in the event that shares of Class A common stock that are then held by Permitted
Class B Owners (including without limitation all shares of Class A common stock that are the subject of unvested stock options
or other equity awards held by Mr. Robins) represent less than 33% of Base Class A Shares (as defined in our amended and restated
articles of incorporation) and (2) subject to cancelation by DraftKings (without consideration) one year after the date that both
of the following conditions apply (the “Founder Termination Anniversary Date”): (a) the earliest to occur of (i) Mr. Robins’
employment as Chief Executive Officer of DraftKings being terminated due to termination of employment for cause or due to death or permanent
disability and (ii) Mr. Robins resigns (other than for good reason) as the Chief Executive Officer of DraftKings and (b) either
(i) Mr. Robins no longer serves as a member of the board of directors of DraftKings or (ii) Mr. Robins’ service
to DraftKings is not his primary business occupation. In the event that Mr. Robins is reinstated as the Chief Executive Officer of
DraftKings or is reelected or reappointed to serve as a member of the board of directors of DraftKings prior to the Founder Termination
Anniversary Date (each, a “Reset Event”), then the shares of Class B common stock will not be canceled pursuant to clause
(2) unless and until the one-year anniversary of the date that both of the foregoing conditions are subsequently met; provided that
in the event of a subsequent Reset Event, the next Founder Termination Anniversary Date will extend until the one-year anniversary of
the date that both of the foregoing conditions are subsequently met without a Reset Event occurring prior to such anniversary.

 

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Other Matters

 

No shares of Class B common stock are subject
to redemption (except as described below under “Redemption Rights and Transfer Restrictions with Respect to Capital Stock Held
by Unsuitable Persons and Their Affiliates”) or have preemptive rights to purchase additional shares of Class B common
stock. Holders of shares of Class B common stock do not have subscription, redemption or conversion rights. All outstanding shares
of Class B common stock are validly issued, fully paid and non-assessable.

 

Preferred Stock

 

Our amended and restated articles of incorporation
provide that the Board has the authority, without action by the stockholders, to designate and issue shares of preferred stock in one
or more classes or series, and the number of shares constituting any such class or series, and to fix the voting powers, designations,
preferences, limitations, restrictions and relative rights of each class or series of preferred stock, including, without limitation,
dividend rights, dividend rates, conversion rights, exchange rights, voting rights, rights and terms of redemption, dissolution preferences,
and treatment in the case of a merger, business combination transaction, or sale of our assets, which rights may be greater than the rights
of the holders of the common stock. As of December 31, 2020, there were no shares of preferred stock outstanding.

 

The purpose of authorizing the Board to issue
preferred stock and determine the rights and preferences of any classes or series of preferred stock is to eliminate delays associated
with a stockholder vote on specific issuances. The simplified issuance of preferred stock, while providing flexibility in connection with
possible acquisitions, future financings and other corporate purposes, could have the effect of making it more difficult for a third party
to acquire, or could discourage a third party from seeking to acquire, a majority of our outstanding voting stock. Additionally, the issuance
of preferred stock may adversely affect the holders of Class A common stock by restricting dividends on the Class A common stock,
diluting the voting power of the Class A common stock or subordinating the dividend or liquidation rights of the Class A common
stock. As a result of these or other factors, the issuance of preferred stock could have an adverse impact on the market price of Class A
common stock.

 

Exclusive Forum

 

Our amended and restated articles of incorporation
provide that, to the fullest extent permitted by law, unless we otherwise consent in writing, the Eighth Judicial District Court of Clark
County, Nevada (or if the Eighth Judicial District Court of Clark County, Nevada does not have jurisdiction, any other state district
court located in the State of Nevada, and if no state district court in the State of Nevada has jurisdiction, any federal court located
in the State of Nevada) will be the exclusive forum for any action or proceeding brought in the name or right of DraftKings or on its
behalf, any action asserting a claim for breach of any fiduciary duty owed by any director, officer, employee or agent of DraftKings to
DraftKings or its stockholders, any action asserting a claim arising pursuant to any provision of NRS Chapters 78 or 92A, our amended
and restated articles of incorporation or the bylaws, any action to interpret, apply, enforce or determine the validity of our amended
and restated articles of incorporation or bylaws or any action asserting a claim governed by the internal affairs doctrine. The exclusive
forum provision will provide federal courts located in the State of Nevada as the forum for suits brought to enforce any duty or liability
for which Section 27 of the Exchange Act establishes exclusive jurisdiction with the federal courts or any other claim for which
the federal courts have exclusive jurisdiction.

 

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Anti-Takeover Effects of Provisions of the
Amended and Restated Articles of Incorporation, the Amended and Restated Bylaws and Applicable Law

 

Certain provisions of our amended and restated
articles of incorporation, amended and restated bylaws and laws of the State of Nevada, where DraftKings is incorporated, may discourage
or make more difficult a takeover attempt that a stockholder might consider in his or her best interest. These provisions may also adversely
affect prevailing market prices for our common stock. We believe that the benefits of increased protection give us the potential ability
to negotiate with the proponent of an unsolicited proposal to acquire or restructure DraftKings and outweigh the disadvantage of discouraging
those proposals because negotiation of the proposals could result in an improvement of their terms.

 

Authorized but Unissued Shares

 

The authorized but unissued shares of Class A
common stock, Class B common stock and preferred stock are available for future issuance without stockholder approval, subject to
any limitations imposed by the listing standards of The Nasdaq Stock Market. These additional shares may be used for a variety of corporate
finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and
preferred stock could make more difficult or discourage an attempt to obtain control of DraftKings by means of a proxy contest, tender
offer, merger or otherwise.

 

Dual Class Stock

 

Our amended and restated articles of incorporation
provide for a dual class common stock structure, which provides Mr. Robins with the ability to control the outcome of matters requiring
stockholder approval, even though he owns significantly less than a majority of the shares of outstanding Class A common stock, including
the election of directors and significant corporate transactions, such as a merger or other sale of DraftKings or its assets.

 

Number of Directors

 

Our amended and restated articles of incorporation
and amended and restated bylaws provide that, subject to any rights of holders of preferred stock to elect additional directors under
specified circumstances, the number of directors may be fixed from time to time pursuant to a resolution adopted by the Board or, from
and after the time that Mr. Robins beneficially owns less than a majority of the voting power of our outstanding capital stock,
may be modified by the affirmative vote of at least two-thirds of the voting power of our outstanding capital stock. The number of directors
is currently fixed at 15. 

 

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Requirements for Advance Notification of
Stockholder Meetings, Nominations and Proposals

 

The bylaws establish advance notice procedures
with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at
the direction of the Board or a committee of the Board. In order for any matter to be “properly brought” before a meeting,
a stockholder has to comply with advance notice requirements and provide DraftKings with certain information. Generally, to be timely,
a stockholder’s notice must be received at DraftKings’ principal executive offices not less than 90 days nor more than
120 days prior to the first anniversary date of the immediately preceding annual meeting of stockholders. The bylaws also specify
requirements as to the form and content of a stockholder’s notice. The bylaws allow the chairman of the meeting at a meeting of
the stockholders to adopt rules and regulations for the conduct of meetings which may have the effect of precluding the conduct of
certain business at a meeting if the rules and regulations are not followed. These provisions may also defer, delay or discourage
a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting
to influence or obtain control of us.

 

Limitations on Stockholder Action by Written
Consent

 

Nevada law permits stockholder action by written
consent unless the corporation’s articles of incorporation or bylaws provide otherwise. Pursuant to Section 78.320 of the NRS,
any action required to be taken at any annual or special meeting of the stockholders may be taken without a meeting, if a written consent
to such action is signed by the holders of outstanding stock having at least a majority of the voting power of all classes entitled to
vote, or such different proportion that would be required for such an action at a meeting of the stockholders. Our amended and restated
articles of incorporation provide that stockholder action by written consent will be permitted so long as Mr. Robins beneficially
owns a majority of the voting power of the then-outstanding shares of our capital stock. Once Mr. Robins no longer beneficially owns
a majority of the voting power of the then-outstanding shares of our capital stock, all stockholder actions must be taken at a meeting
of our stockholders.

 

Amendment of Amended and Restated Articles
of Incorporation or Bylaws

 

Nevada law provides generally that a resolution
of the board of directors is required to propose an amendment to a corporation’s articles of incorporation and that the amendment
must be approved by the affirmative vote of a majority of the voting power of all classes entitled to vote, as well as a majority of
any class adversely affected. Nevada law also provides that the corporation’s bylaws, including any bylaws adopted by its stockholders,
may be amended by the board of directors and that the power to adopt, amend or repeal the bylaws may be granted exclusively to the directors
in the corporation’s articles of incorporation. Our amended and restated articles of incorporation provide that, except as otherwise
provided by applicable law, amendments to our amended and restated articles of incorporation must be approved by (1) a majority
of the combined voting power of all shares of our capital stock entitled to vote, voting together as a single class, so long as shares
representing a majority of the voting power of all of the then-outstanding shares of our capital stock entitled to vote is beneficially
owned by Mr. Robins or (2) two-thirds of the combined voting power of all shares entitled to vote, voting together as a single
class, thereafter. Our amended and restated articles of incorporation and bylaws provide that the amended and restated bylaws may be
amended or repealed by either the affirmative vote of a majority of the Board or by the affirmative vote of stockholders representing
a majority of the voting power of all of the then-outstanding shares of our capital stock entitled to vote, while Mr. Robins beneficially
owns shares representing at least a majority of the voting power of our capital stock, or, thereafter, by the affirmative vote of stockholders
representing at least two-thirds or more of the voting power of our capital stock. 

 

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Business Combinations

 

The “business combination” provisions
of Sections 78.411 to 78.444, inclusive, of the NRS generally prohibit a publicly traded Nevada corporation with at least 200 stockholders
of record from engaging in various “combination” transactions with any interested stockholder for a period of up to four years
after the date of the transaction in which the person became an interested stockholder, unless the combination or transaction was approved
by the board of directors before such person became an interested stockholder or the combination is approved by the board of directors,
if within two years after the date in which the person became an interested stockholder, and is approved at a meeting of the stockholders
by the affirmative vote of stockholders representing at least 60% (for a combination within two years after becoming an interested
stockholder) or a majority (for combinations between two and four years thereafter) of the outstanding voting power held by disinterested
stockholders. Alternatively, a corporation may engage in a combination with an interested stockholder more than two years after such
person becomes an interested stockholder if:

 

	 	•	the consideration to be paid to the holders of the corporation’s stock, other than the interested stockholder, is at least equal to the highest of: (a) the highest price per share paid by the interested stockholder within the two years immediately preceding the date of the announcement of the combination or the transaction in which it became an interested stockholder, whichever is higher, plus interest compounded annually, (b) the market value per share of common stock on the date of announcement of the combination or the date the interested stockholder acquired the shares, whichever is higher, less certain dividends paid or (c) for holders of preferred stock, the highest liquidation value of the preferred stock, if it is higher; and

 

	 	•	the interested stockholder has not become the owner of any additional voting shares since the date of becoming an interested stockholder except by certain permitted transactions.

 

A “combination” is generally defined
to include (i) mergers or consolidations with the “interested stockholder” or an affiliate or associate of the interested
stockholder, (ii) any sale, lease exchange, mortgage, pledge, transfer or other disposition of assets of the corporation, in one
transaction or a series of transactions, to or with the interested stockholder or an affiliate or associate of the interested stockholder:
(a) having an aggregate market value equal to 5% or more of the aggregate market value of the assets of the corporation, (b) having
an aggregate market value equal to 5% or more of the aggregate market value of all outstanding shares of the corporation or (c) representing
more than 10% of the earning power or net income (determined on a consolidated basis) of the corporation, (iii) any issuance or transfer
of securities to the interested stockholder or an affiliate or associate of the interested stockholder, in one transaction or a series
of transactions, having an aggregate market value equal to 5% or more of the aggregate market value of all of the outstanding voting shares
of the corporation (other than under the exercise of warrants or rights to purchase shares offered, or a dividend or distribution made
pro rata to all stockholders of the corporation), (iv) adoption of a plan or proposal for liquidation or dissolution of the
corporation with the interested stockholder or an affiliate or associate of the interested stockholder and (v) certain other transactions
having the effect of increasing the proportionate share of voting securities beneficially owned by the interested stockholder or an affiliate
or associate of the interested stockholder.

 

In general, an “interested stockholder”
means any person who (i) beneficially owns, directly or indirectly, 10% or more of the voting power of the outstanding voting shares
of a corporation, or (ii) is an affiliate or associate of the corporation that beneficially owned, within two years prior to
the date in question, 10% or more of the voting power of the then-outstanding shares of the corporation. 

 

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We have opted out of these provisions in our amended
and restated articles of incorporation until Mr. Robins ceases to beneficially own shares of our common stock representing at least
15% of our outstanding voting stock.

 

Control Share Acquisitions

 

The “control share” provisions of
Sections 78.378 to 78.3793, inclusive, of the NRS apply to “issuing corporations” that are Nevada corporations doing
business, directly or through an affiliate, in Nevada, and having at least 200 stockholders of record, including at least 100 of whom
have addresses in Nevada appearing on the stock ledger of the corporation. The control share statute prohibits an acquirer, under certain
circumstances, from voting its “control shares” of an issuing corporation’s stock after crossing certain ownership threshold percentages,
unless the acquirer obtains approval of the issuing corporation’s disinterested stockholders or unless the issuing corporation amends
its articles of incorporation or bylaws within 10 days of the acquisition. The statute specifies three thresholds: one-fifth or more
but less than one-third, one-third but less than a majority, and a majority or more, of the outstanding voting power of a corporation.
Generally, once an acquirer crosses one of the foregoing thresholds, those shares acquired in an acquisition or offer to acquire in an
acquisition and acquired within 90 days immediately preceding the date that the acquirer crosses one of the thresholds become “control
shares,” and such control shares are deprived of the right to vote until disinterested stockholders restore the right. In addition,
the corporation, if provided in its articles of incorporation or bylaws in effect on the tenth (10th) day following the acquisition
of a controlling interest, may cause the redemption of all of the control shares at the average price paid for such shares if the stockholders
do not accord the control shares full voting rights. If control shares are accorded full voting rights and the acquiring person has acquired
a majority or more of all voting power, all other stockholders who did not vote in favor of authorizing voting rights to the control shares
are entitled to demand payment for the fair value of their shares in accordance with statutory procedures established for dissenters’
rights.

 

We have opted out of these provisions in our amended
and restated articles of incorporation until Mr. Robins ceases to beneficially own shares of our common stock representing at least
15% of our outstanding voting stock. After such time, we may opt out of the “control share” statute by amending our articles
of incorporation or bylaws within 10 days of the acquisition as provided by Nevada law.

 

Limitations on Liability and Indemnification
of Officers and Directors

 

Our amended and restated articles of incorporation
eliminate the liability of our officers and directors to the fullest extent permitted by Nevada law. Nevada law provides that our directors
and officers will not be individually liable to us, our stockholders or our creditors for any damages for any act or failure to act in
the capacity of a director or officer other than in circumstances where both (i) the presumption that the director or officer acted
in good faith, on an informed basis and with a view to the interests of the corporation has been rebutted, and (ii) the act or failure
to act of the director or officer is proven to have been a breach of his or her fiduciary duties as a director or officer and such breach
is proven to have involved intentional misconduct, fraud or a knowing violation of law.

 

Our amended and restated articles of incorporation
and bylaws also provide for indemnification for our directors and officers to the fullest extent permitted by Nevada law. We have entered
into indemnification agreements with each of our directors that are, in some cases, broader than the specific indemnification provisions
contained under Nevada law. The effect of these provisions is to restrict our rights and the rights of our stockholders in derivative
suits to recover any damages against a director for breach of fiduciary duties as a director, because a director will not be individually
liable for acts or omissions, except where the act or failure to act constituted a breach of fiduciary duty and such breach involved intentional
misconduct, fraud or a knowing violation of law, and the presumption that the director or officer acted in good faith, on an informed
basis, and with a view to the interests of the corporation, has been rebutted.

 

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These provisions may be held not to be enforceable
for certain violations of the federal securities laws of the United States.

 

We are also expressly authorized to carry directors’
and officers’ insurance to protect our directors, officers, employees and agents against certain liabilities.

 

The limitation of liability and indemnification
provisions under Nevada law and in our amended and restated articles of incorporation and amended and restated bylaws may discourage stockholders
from bringing a lawsuit against directors for breach of their fiduciary duties. These provisions may also have the effect of reducing
the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit
DraftKings and our stockholders. However, these provisions do not limit or eliminate our rights, or those of any stockholder, to seek
non-monetary relief such as injunction or rescission in the event of a breach of a director’s fiduciary duties. Moreover, the provisions
do not alter the liability of directors under the federal securities laws. In addition, your investment may be adversely affected to the
extent that, in a class action or direct suit, we cover the costs of settlement and damage awards against directors and officers pursuant
to these indemnification provisions.

 

The foregoing provisions of our amended and restated
articles of incorporation and amended and restated bylaws could discourage potential acquisition proposals and could delay or prevent
a change in control. These provisions are intended to enhance the likelihood of continuity and stability in the composition of our board
of directors and in the policies formulated by our board of directors and to discourage certain types of transactions that may involve
an actual or threatened change of control. These provisions are designed to reduce DraftKings’ vulnerability to an unsolicited acquisition
proposal. The provisions also are intended to discourage certain tactics that may be used in proxy fights. However, such provisions could
have the effect of discouraging others from making tender offers for our shares and, as a consequence, they also may inhibit fluctuations
in the market price of Class A common stock that could result from actual or rumored takeover attempts. Such provisions also may
have the effect of preventing changes in our management or delaying or preventing a transaction that might benefit you or other minority
stockholders.

 

Corporate Opportunities

 

In anticipation that Mr. Robins may engage
in activities or lines of business similar to those in which we engage, our amended and restated articles of incorporation provide for,
to the fullest extent permitted under Nevada law, the renouncement by DraftKings of all interest and expectancy that DraftKings otherwise
would be entitled to have in, and all rights to be offered an opportunity to participate in, any business opportunity that from time to
time may be presented to any director, stockholder, officer or agent of DraftKings (or any affiliate thereof), other than an employee
of DraftKings or any of its subsidiaries. Specifically, no holder of shares of common stock, nor any non-employee director, of DraftKings
has any duty to refrain from engaging in the same or similar business activities or lines of business that DraftKings does or otherwise
competing with DraftKings. In the event that any holder of shares of common stock of DraftKings or any director that is not an employee
of DraftKings or its subsidiaries acquires knowledge of a potential transaction or matter which may be a corporate opportunity for itself
and DraftKings, that person will not have any duty to communicate or offer such corporate opportunity to DraftKings and may pursue or
acquire such corporate opportunity for itself or direct such opportunity to another person.

 

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To the fullest extent permitted by Nevada law,
no potential transaction or business opportunity may be deemed to be a potential corporate opportunity of DraftKings or its subsidiaries
unless (a) DraftKings and its subsidiaries would be permitted to undertake such transaction or opportunity in accordance with the
DraftKings amended and restated articles of incorporation, (b) DraftKings and its subsidiaries at such time have sufficient financial
resources to undertake such transaction or opportunity and (c) such transaction or opportunity would be in the same or similar line
of business in which DraftKings and its subsidiaries are then engaged or a line of business that is reasonably related to, or a reasonable
extension of, such line of business.

 

Redemption Rights and Transfer Restrictions with Respect to Capital
Stock Held by Unsuitable Persons and Their Affiliates

 

Our amended and restated articles of incorporation
provide that any common stock or any other equity securities of DraftKings, or securities exchangeable or exercisable for, or convertible
into, such other equity securities of DraftKings owned or controlled by a person whom the board determines in good faith (following consultation
with reputable outside gaming regulatory counsel) pursuant to a resolution adopted by the unanimous affirmative vote of all of the disinterested
members of the DraftKings board of directors (i) fails or refuses to file an application (or fails or refuses, as an alternative,
to otherwise formally request from the relevant Gaming Authority a waiver or similar relief from filing such application) within 30 days
(or such shorter period imposed by any gaming authority, including any extensions of that period granted by the relevant gaming authority,
but in no event more than such original thirty (30) days) after having been requested in writing and in good faith to file an application
by DraftKings (based on consultation with reputable outside gaming regulatory counsel), or has withdrawn or requested the withdrawal of
a pending application (other than for technical reasons with the intent to promptly file an amended application following such withdrawal),
to be found suitable by any gaming authority or for any gaming license when such finding of suitability or gaming license is required
by gaming laws or gaming authorities for the purpose of obtaining a material gaming license for, or compliance with material gaming laws
by DraftKings “or any affiliated company”, (ii) is denied or disqualified from eligibility for any material gaming license
by any gaming authority, (iii) is determined by a gaming authority in any material gaming jurisdiction to be unsuitable to own or
control any equity interests, or be affiliated, associated or involved with a person engaged in gaming activities, (iv) is determined
by a gaming authority to have caused, in whole or in part, any material gaming license of DraftKings or any affiliated company to be lost,
rejected, rescinded, suspended, revoked or not renewed by any gaming authority, or to have cause, in whole or in part, DraftKings or any
affiliated company to be threatened by any gaming authority with the loss, rejection, rescission, suspension, revocation or non-renewal
of any material gaming license (in each of  (ii) through (iv) above, only if such denial, disqualification or determination
by a gaming authority is final and non-appealable), or (v) is reasonably likely to (1) preclude or materially delay, impede,
impair, threaten or jeopardize any material gaming license held or desired in good faith to be held by DraftKings or any affiliated company
or DraftKings’ or any affiliated company’s application for, right to the use of, entitlement to, or ability to obtain or retain,
any material gaming license held or desired in good faith to be held by DraftKings or any affiliated company, or (2) cause or otherwise
be reasonably likely to result in the imposition of any materially burdensome terms or conditions on any material gaming license held
or desired to be held by DraftKings or any affiliated company (each of such persons, an “Unsuitable Person”) or its affiliates
will be subject to mandatory sale and transfer on the terms and conditions set forth in our amended and restated articles of incorporation
to either DraftKings or one or more third-party transferees (as described in our amended and restated articles of incorporation) and in
such number and class(es)/series as determined by the Board.

 

Any such sale or transfer will not occur until
the later to occur of: (i) delivery to the Unsuitable Person of a copy of a resolution duly adopted by the unanimous affirmative
vote of all of the disinterested members of the DraftKings board of directors at a meeting thereof called and held for the purpose (after
providing reasonable notice to such person and a reasonable opportunity for such person, together with their counsel, to be heard and
to provide documents and written arguments), finding that the DraftKings board of directors has determined in good faith (following consultation
with reputable outside gaming regulatory counsel) that (A) such person is an Unsuitable Person and (B) it is necessary for such
person or an affiliate of such person (as applicable) to sell and transfer such number and class(es)/series of equity interests in order
for DraftKings or an affiliated company to: (1) obtain, renew, maintain or prevent the loss, rejection, rescission, suspension, revocation
or non-renewal of a material gaming license; (2) comply in any material respect with a material gaming law; (3) ensure that
any material gaming license held or desired in good faith to be held by DraftKings or any affiliated company, or DraftKings’ or
any affiliated company’s application for, right to the use of, entitlement to, or ability to obtain or retain, any material gaming
license held or desired in good faith to be held by DraftKings or any affiliated company, is not precluded, delayed, impeded, impaired,
threatened or jeopardized in any material respect; or (4) prevent the imposition of any materially burdensome terms or conditions
on any material gaming license held or desired in good faith to be held by DraftKings or any affiliated company, and specifying the reasoning
for such determinations in reasonable detail, and (ii) conclusion of any arbitration process brought in accordance with the provisions
of our amended and restated articles of incorporation.

 

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Following (x) the determination of unsuitability
by the Board and (y) if applicable, an arbitrator determining that such determinations were made in good faith by the Board, DraftKings
will deliver a transfer notice to the Unsuitable Person or its affiliate(s) and will purchase and/or cause one or more third-party
transferees to purchase such number and class(es)/series of equity interests determined in good faith by the Board for the purchase price
set forth in the transfer notice, which will be determined in accordance with our amended and restated articles of incorporation; provided
that an Unsuitable Person or its affiliate(s) will be permitted, during the 45-day period commencing on the date of the transfer
notice (or before a transfer notice is formally delivered), to effect and close a disposition of the number and class(es)/series of equity
interests specified in the transfer notice (or a portion of them) to a person that the Board determines in good faith (following consultation
with reputable outside gaming regulatory counsel) is not an Unsuitable Person, on terms agreed between the Unsuitable Person and such
person (an “Alternate Private Transaction”).

 

At the closing of a sale and transfer other than
an Alternate Private Transaction, (i) DraftKings or the third-party transferee(s) (as applicable), will deliver the aggregate
applicable purchase price for the equity interests being purchased by each of the foregoing by wire transfer of immediately available
funds to the account specified in writing by the Unsuitable Person or an affiliate of such Unsuitable Person (as applicable) in the case
of third-party transferees, by unsecured promissory note in the case of DraftKings, or a combination of both in the case of DraftKings
in such proportion as it may determine in its sole and absolute discretion and (ii) the Unsuitable Person or affiliate thereof will
deliver to DraftKings or each such third-party transferee, such stock powers, assignment instruments and other agreements as are necessary
or appropriate to fully convey all right, title and interest in and to the equity interests being purchased by each of the foregoing,
free and clear of all liens and other encumbrances and to evidence the subordination of any promissory note if and only to the extent
required by any debt obligations of DraftKings (and to the minimum extent required pursuant to such subordination arrangement).

 

Our amended and restated articles of incorporation
provide that, in the case of a sale and transfer to DraftKings, from and after the transfer date and subject only to the right to receive
the purchase price for such equity interests, the equity interests will be deemed no longer outstanding and the Unsuitable Person or any
affiliate thereof will cease to be a stockholder, and all rights of such Unsuitable Person or any affiliate thereof, other than the right
to receive the purchase price, will cease. In the case of an Alternate Private Transaction or a transfer to one or more third-party transferees,
from and after the earlier to occur of: (i) the transfer date, in the case of a transfer to one or more such third-party transferees,
or (ii) consummation of an Alternate Private Transaction, subject only to the right to receive the purchase price for such Unsuitable
Person’s equity securities, all rights and entitlements of the Unsuitable Person or any affiliates thereof will be terminated, including,
without limitation, any such person will from such date no longer be entitled to: (i) receive any dividend, payment, distribution
or interest with regard to the applicable equity interests which has been declared following such date or of which the due payment date
according to the applicable declaration is following such date, other than the right to receive the purchase price or (ii) to exercise,
directly or indirectly or through any proxy, trustee, or nominee, any voting or other right (including, without limitation, observer and
information rights) conferred by the underlying equity interests.

 

    10 

     

    

 

Further, to the extent that a sale and transfer
to one or more third-party transferees is determined to be invalid or unenforceable for any reason, DraftKings will be permitted to redeem
or repurchase the equity interests owned or controlled by an Unsuitable Person or an affiliate thereof for the price and under the terms
contemplated by our amended and restated articles of incorporation promptly following any such determination.

 

Stockholders’ Derivative Actions

 

Under Nevada law, any of our stockholders may
bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the stockholder bringing
the action was a holder of our shares at the time of the transaction to which the action relates or such stockholder’s stock thereafter
devolved by operation of law and such suit is brought in a Nevada court. See “Exclusive Forum” above.

 

Transfer Agent and Registrar

 

The transfer agent for our Class A common stock is Computershare
Trust Company, N.A.

 

    11Exhibit 10.7

 

TRADEMARK

ASSIGNMENT

 

WHEREAS,

Albert Fouerti. (hereinafter referred to as ASSIGNOR) an individual having an address at 1870 Bath Avenue, Brooklyn, NY 11214,

is the owner of the trademarks and United States trademark applications and registrations thereof listed in Attachment

A; and

 

WHEREAS,

SUPERIOR DEALS, INC. (hereinafter referred to as ASSIGNEE) a New York corporation, having a place of business at 1870 Bath Avenue,

Brooklyn, NY 11214, is desirous of acquiring said trademark and application for registration thereof;

 

NOW,

THEREFORE, TO ALL WHOM IT MAY CONCERN:

 

Be
it known that for and in consideration of the sum of ONE DOLLAR and other good and valuable consideration to it in hand paid,
the receipt of which is hereby acknowledged, said Albert Fouerti by these presents does sell, assign and transfer, unto the said
SUPERIOR DEALS, INC., the entire right, title and interest in and to the aforesaid marks and applications and registrations thereof,
together with the good will of the business associated therewith and the right to sue for infringements of the mark, past and
present.

 

	Date:	10/15/2020	 	/s/ Albert Fouerti
	 	 	 	Albert

Fouerti
	 	 	 	 
	 	 	 	 
	Date:	10/15/2020	 	/s/ Albert Fouerti
	 	 	 	SUPERIOR DEALS, INC
	 	 	 	 
	 	 	 	Name:	Albert Fouerti
	 	 	 	Title:	President

 

     

     

    

 

ATTACHMENT

A

 

	Mark	Serial

    No.	Registration

    No.
	FORTÉ	88633700	pending
	SUPERIORBRANDS	88757827	pending
	MILO

    ITALIA	87754443	5573933
	SUPERIORBRANDS	87754442	5532147

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