Document:

Exhibit 10.25

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement
("Agreement"), dated as of ___________, is by and between Rush Street Interactive, Inc., a Delaware corporation
(the "Company") and ___________ (the "Indemnitee").

 

WHEREAS,
Indemnitee is an officer of the Company / the Company expects Indemnitee to join the Company as an officer;

 

WHEREAS,
the board of directors of the Company (the "Board") has determined that enhancing the ability of the Company to
retain and attract as directors and officers the most capable persons is in the best interests of the Company and that the Company
therefore should seek to assure such persons that indemnification and insurance coverage is available; and

 

WHEREAS,
in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee's
service as an officer of the Company and to enhance Indemnitee's ability to serve the Company in an effective manner, and in order
to provide such protection pursuant to express contract rights (intended to be enforceable irrespective of, among other things,
any amendment to the Company's certificate of incorporation or bylaws (collectively, the "Constituent Documents"),
any change in the composition of the Board or any change in control or business combination transaction relating to the Company),
the Company wishes to provide in this Agreement for the indemnification of, and the advancement of Expenses (as defined in Section
1(f) below) to, Indemnitee as set forth in this Agreement and for the coverage of Indemnitee under the Company's directors'
and officers' liability insurance policies.

 

NOW, THEREFORE,
in consideration of the foregoing and the Indemnitee's agreement to provide services to the Company, the parties agree as follows:

 

1.            Definitions. For purposes of this Agreement, the following terms shall have the following meanings:

 

(a)           "Beneficial
Owner" has the meaning given to the term "beneficial owner" in Rule 13d-3 under the Securities Exchange Act
of 1934, as amended (the "Exchange Act").

 

(b)           "Change in Control" means the occurrence after the date of this Agreement of any of the following events:

 

(i)            any
Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing thirty percent (30%)
or more of the Company's then outstanding Voting Securities unless the change in relative Beneficial Ownership of the Company's
securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled
to vote generally in the election of directors;

 

(ii)           the consummation of a reorganization, merger or consolidation, unless immediately following such reorganization, merger
or consolidation, all of the Beneficial Owners of the Voting Securities of the Company immediately prior to such transaction beneficially
own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the outstanding Voting Securities of
the entity resulting from such transaction;

 

(iii)          during
any period of two consecutive years, not including any period prior to the execution of this Agreement, individuals who at the
beginning of such period constituted the Board (including for this purpose any new directors whose election by the Board or nomination
for election by the Company's stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in
office who either were directors at the beginning of the period or whose election or nomination for election was previously so
approved) cease for any reason to constitute at least a majority of the Board; or

 

     

     

    

 

(iv)          the
stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or an agreement for the sale
or disposition by the Company of all or substantially all of the Company's assets.

 

		(c)	"Claim" means:

 

(i)            any
threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal,
administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law; or

 

(ii)           any inquiry, hearing or investigation that the Indemnitee determines might lead to the institution of any such action, suit,
proceeding or alternative dispute resolution mechanism.

 

		(d)	"Delaware Court" shall have the meaning ascribed to it in Section 8(e) below.

 

(e)          "Disinterested
Director" means a director of the Company who is not and was not a party to the Claim in respect of which indemnification
is sought by Indemnitee.

 

(f)           "Expenses" means any and all expenses, including attorneys' and experts' fees, court costs, transcript
costs, travel expenses, duplicating, printing and binding costs, telephone charges, and all other costs and expenses incurred in
connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend,
be a witness or participate in, any Claim. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting
from any Claim, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas
bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 4 only, Expenses incurred by Indemnitee in connection
with the interpretation, enforcement or defense of Indemnitee's rights under this Agreement, by litigation or otherwise. Expenses,
however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(g)          "Expense
Advance" means any payment of Expenses advanced to Indemnitee by the Company pursuant to Section 3 or Section
4 hereof.

 

(h)          "Indemnifiable Event" means any event or occurrence, whether occurring on or after the date of this Agreement,
related to the fact that Indemnitee is or was a director, officer, employee or agent of the Company or any subsidiary of the Company,
or is or was serving at the request of the Company as a director, officer, employee, member, manager, trustee or agent of any other
corporation, limited liability company, partnership, joint venture, trust or other entity or enterprise (collectively with the
Company, "Enterprise") or by reason of an action or inaction by Indemnitee in any such capacity (whether or not
serving in such capacity at the time any Loss is incurred for which indemnification can be provided under this Agreement).

 

     

     

    

 

(i)           "Independent
Counsel" means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
performs, nor in the past three (3) years has performed, services for either: (i) the Company or Indemnitee (other than in connection
with matters concerning Indemnitee under this Agreement or of other indemnitees under similar agreements) or (ii) any other party
to the Claim giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel"
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement.

 

(j)            "Losses" means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties (whether
civil, criminal or other), ERISA excise taxes, amounts paid or payable in settlement, including any interest, assessments, and
all other charges paid or payable in connection with investigating, defending, being a witness in or participating in (including
on appeal), or preparing to defend, be a witness or participate in, any Claim.

 

(k)           "Person" means any individual, corporation, firm, partnership, joint venture, limited liability company,
estate, trust, business association, organization, governmental entity or other entity and includes the meaning set forth in Sections
13(d) and 14(d) of the Exchange Act.

 

(l)            "Standard of Conduct Determination" shall have the meaning ascribed to it in Section 8(b) below.

 

(m)          "Voting
Securities" means any securities of the Company that vote generally in the election of directors.

 

2.            Indemnification.
Subject to Section 8 and Section 9 of this Agreement, the Company shall indemnify Indemnitee, to the fullest extent
permitted by the laws of the State of Delaware in effect on the date hereof, or as such laws may from time to time hereafter be
amended to increase the scope of such permitted indemnification, against any and all Losses if Indemnitee was or is or becomes
a party to or participant in, or is threatened to be made a party to or participant in, any Claim by reason of or arising in part
out of an Indemnifiable Event, including, without limitation, Claims brought by or in the right of the Company, Claims brought
by third parties, and Claims in which the Indemnitee is solely a witness.

 

3.            Advancement
of Expenses. Indemnitee shall have the right to advancement by the Company, prior to the final disposition of any Claim by
final adjudication to which there are no further rights of appeal, of any and all Expenses actually and reasonably paid or incurred
by Indemnitee in connection with any Claim arising out of an Indemnifiable Event. Indemnitee's right to such advancement is not
subject to the satisfaction of any standard of conduct. Without limiting the generality or effect of the foregoing, within thirty
(30) days after any request by Indemnitee, the Company shall, in accordance with such request, (a) pay such Expenses on behalf
of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee for such
Expenses. In connection with any request for Expense Advances, Indemnitee shall not be required to provide any documentation or
information to the extent that the provision thereof would undermine or otherwise jeopardize attorney-client privilege. Indemnitee's
obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon. Notwithstanding
anything to the contrary contained herein, in the event that it is ultimately determined that Indemnitee is not to be entitled
to indemnification, then all amounts advanced under this Section 3 shall be repaid, unless the court in such action, suit
or proceeding shall determine that, despite Indemnitee’s failure to establish its right to indemnification, Indemnitee is
entitled to indemnity for such expenses. Indemnitee shall be required to reimburse the Company in the event that a final judicial
determination is made that such action brought by Indemnitee was frivolous or not made in good faith.

 

     

     

    

 

4.            Indemnification
for Expenses in Enforcing Rights. To the fullest extent allowable under applicable law, the Company shall also indemnify Indemnitee
against, and, if requested by Indemnitee, shall advance to Indemnitee subject to and in accordance with Section 3, any
Expenses actually and reasonably paid or incurred by Indemnitee in connection with any action or proceeding by Indemnitee for
(a)    indemnification or reimbursement
or advance payment of Expenses by the Company under any provision of this Agreement, or under any other agreement or provision
of the Constituent Documents now or hereafter in effect relating to Claims relating to Indemnifiable Events, and/or (b) recovery
under any directors' and officers' liability insurance policies maintained by the Company. However, in the event that Indemnitee
is ultimately determined not to be entitled to such indemnification or insurance recovery, as the case may be, then all amounts
advanced under this Section 4 shall be repaid, unless the court in such action, suit or proceeding shall determine that,
despite Indemnitee’s failure to establish its right to indemnification, Indemnitee is entitled to indemnity for such expenses.
Indemnitee shall be required to reimburse the Company in the event that a final judicial determination is made that such action
brought by Indemnitee was frivolous or not made in good faith.

 

5.            Partial Indemnity. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company
for a portion of any Losses in respect of a Claim related to an Indemnifiable Event but not for the total amount thereof, the Company
shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 

		6.	Notification and Defense of Claims.

 

(a)           Notification
of Claims. Indemnitee shall notify the Company in writing as soon as practicable of any Claim which could relate to an Indemnifiable
Event or for which Indemnitee could seek Expense Advances, including a brief description (based upon information then available
to Indemnitee) of the nature of, and the facts underlying, such Claim. The failure by Indemnitee to timely notify the Company
hereunder shall not relieve the Company from any liability hereunder. If at the time of the receipt of such notice, the Company
has directors' and officers' liability insurance in effect under which coverage for Claims related to Indemnifiable Events is
potentially available, the Company shall give prompt written notice to the applicable insurers in accordance with the procedures
set forth in the applicable policies. The Company shall provide to Indemnitee a copy of such notice delivered to the applicable
insurers, and copies of all subsequent correspondence between the Company and such insurers regarding the Claim, in each case
substantially concurrently with the delivery or receipt thereof by the Company.

 

(b)           Defense
of Claims. The Company shall be entitled to participate in the defense of any Claim relating to an Indemnifiable Event at
its own expense and, except as otherwise provided below, to the extent the Company so wishes, it may assume the defense thereof
with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the
defense of any such Claim, the Company shall not be liable to Indemnitee under this Agreement or otherwise for any Expenses subsequently
directly incurred by Indemnitee in connection with Indemnitee's defense of such Claim other than reasonable costs of investigation
or as otherwise provided below. Indemnitee shall have the right to employ its own legal counsel in such Claim, but all Expenses
related to such counsel incurred after notice from the Company of its assumption of the defense shall be at Indemnitee's own expense;
provided, however, that if (i) Indemnitee's employment of its own legal counsel has been authorized by the Company, (ii) Indemnitee
has reasonably determined that there may be a conflict of interest between Indemnitee and the Company in the defense of such Claim,
(iii) after a Change in Control, Indemnitee's employment of its own counsel has been approved by the Independent Counsel or (iv)
the Company shall not in fact have employed counsel to assume the defense of such Claim, then Indemnitee shall be entitled to
retain its own separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any such Claim)
and all Expenses related to such separate counsel shall be borne by the Company.

 

     

     

    

 

7.            Procedure upon Application for Indemnification. In order to obtain indemnification pursuant to this Agreement, Indemnitee
shall submit to the Company a written request therefor, including in such request such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification
following the final disposition of the Claim, provided that documentation and information need not be so provided to the extent
that the provision thereof would undermine or otherwise jeopardize attorney-client privilege. Indemnification shall be made insofar
as the Company determines Indemnitee is entitled to indemnification in accordance with Section 8 below.

 

		8.	Determination of Right to Indemnification.

 

		(a)	Mandatory Indemnification; Indemnification as a Witness.

 

(i)            To
the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Claim relating to an Indemnifiable
Event or any portion thereof or in defense of any issue or matter therein, including without limitation dismissal without prejudice,
Indemnitee shall be indemnified against all Losses relating to such Claim in accordance with Section 2 to the fullest extent
allowable by law.

 

(ii)          To the extent that Indemnitee's involvement in a Claim relating to an Indemnifiable Event is to prepare to serve and serve
as a witness, and not as a party, the Indemnitee shall be indemnified against all Losses incurred in connection therewith to the
fullest extent allowable by law.

 

(b)           Standard
of Conduct. To the extent that the provisions of Section 8(a) are inapplicable to a Claim related to an Indemnifiable
Event that shall have been finally disposed of, any determination of whether Indemnitee has satisfied any applicable standard
of conduct under Delaware law that is a legally required condition to indemnification of Indemnitee hereunder against Losses relating
to such Claim and any determination that Expense Advances must be repaid to the Company (a "Standard of Conduct Determination")
shall be made as follows:

 

(i)            if no Change in Control has occurred, (A) by a majority vote of the Disinterested Directors, even if less than a quorum
of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even
though less than a quorum or (C) if there are no such Disinterested Directors, by Independent Counsel in a written opinion addressed
to the Board, a copy of which shall be delivered to Indemnitee; and

 

(ii)          if a Change in Control shall have occurred, (A) if the Indemnitee so requests in writing, by a majority vote of the Disinterested
Directors, even if less than a quorum of the Board or (B) otherwise, by Independent Counsel in a written opinion addressed to the
Board, a copy of which shall be delivered to Indemnitee.

 

The Company
shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance
to Indemnitee, within thirty (30) days of such request, any and all Expenses incurred by Indemnitee in cooperating with the person
or persons making such Standard of Conduct Determination.

 

     

     

    

 

(c)          Making
the Standard of Conduct Determination. The Company shall use its reasonable best efforts to cause any Standard of Conduct
Determination required under Section 8(b) to be made as promptly as practicable. If the person or persons designated to make
the Standard of Conduct Determination under Section 8(b) shall not have made a determination within thirty (30) days
after the later of (A) receipt by the Company of a written request from Indemnitee for indemnification pursuant to Section
8 (the date of such receipt being the "Notification Date") and(B) the selection of an Independent Counsel,
if such determination is to be made by Independent Counsel, then Indemnitee shall be deemed to have satisfied the applicable
standard of conduct; provided that such thirty- (30) day period may be extended for a reasonable time, not to exceed an
additional thirty (30) days, if the person or persons making such determination in good faith requires such additional time
to obtain or evaluate information relating thereto. Notwithstanding anything in this Agreement to the contrary, no
determination as to entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to
the final disposition of any Claim.

 

		(d)	Payment of Indemnification. If, in regard to any Losses:

 

		(i)	Indemnitee shall be entitled to indemnification pursuant to Section 8(a);

 

(ii)           no
Standard Conduct Determination is legally required as a condition to indemnification of Indemnitee hereunder; or

 

(iii)          Indemnitee has been determined or deemed pursuant to Section 8(b) or Section 8(c) to have satisfied the Standard
of Conduct Determination,

 

then the
Company shall pay to Indemnitee, within five (5) days after the later of (A) the Notification Date or (B) the earliest date on
which the applicable criterion specified in clause (i), (ii) or (iii) is satisfied, an amount equal to such Losses.

 

(e)          Selection
of Independent Counsel for Standard of Conduct Determination. If a Standard of Conduct Determination is to be made by Independent
Counsel pursuant to Section 8(b)(i), the Independent Counsel shall be selected by the Board of Directors, and the Company
shall give written notice to Indemnitee advising him of the identity of the Independent Counsel so selected. If a Standard of
Conduct Determination is to be made by Independent Counsel pursuant to Section 8(b)(ii), the Independent Counsel shall
be selected by Indemnitee, and Indemnitee shall give written notice to the Company advising it of the identity of the Independent
Counsel so selected. In either case, Indemnitee or the Company, as applicable, may, within five (5) days after receiving written
notice of selection from the other, deliver to the other a written objection to such selection; provided, however, that such objection
may be asserted only on the ground that the Independent Counsel so selected does not satisfy the criteria set forth in the definition
of "Independent Counsel" in Section 1(i), and the objection shall set forth with particularity the factual basis
of such assertion. Absent a proper and timely objection, the person or firm so selected shall act as Independent Counsel. If such
written objection is properly and timely made and substantiated, (i) the Independent Counsel so selected may not serve as Independent
Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit; and (ii)
the non-objecting party may, at its option, select an alternative Independent Counsel and give written notice to the other party
advising such other party of the identity of the alternative Independent Counsel so selected, in which case the provisions of
the two immediately preceding sentences, the introductory clause of this sentence and numbered clause (i) of this sentence shall
apply to such subsequent selection and notice. If applicable, the provisions of clause (ii) of the immediately preceding sentence
shall apply to successive alternative selections. If no Independent Counsel that is permitted under the foregoing provisions of
this Section 8(e) to make the Standard of Conduct Determination shall have been selected within twenty (20) days after
the Company gives its initial notice pursuant to the first sentence of this Section 8(e) or Indemnitee gives its initial
notice pursuant to the second sentence of this Section 8(e), as the case may be, either the Company or Indemnitee may petition
the Court of Chancery of the State of Delaware ("Delaware Court") to resolve any objection which shall have been
made by the Company or Indemnitee to the other's selection of Independent Counsel and/or to appoint as Independent Counsel a person
to be selected by the Court or such other person as the Court shall designate, and the person or firm with respect to whom all
objections are so resolved or the person or firm so appointed will act as Independent Counsel. In all events, the Company shall
pay all of the reasonable fees and expenses of the Independent Counsel incurred in connection with the Independent Counsel’s
determination pursuant to Section 8(b).

 

     

     

    

 

		(f)	Presumptions and Defenses.

 

(i)            Indemnitee's Entitlement to Indemnification. In making any Standard of Conduct Determination, the person or persons
making such determination shall presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification,
and the Company shall have the burden of proof to overcome that presumption and establish that Indemnitee is not so entitled. Any
Standard of Conduct Determination that is adverse to Indemnitee may be challenged by the Indemnitee in the Delaware Court. No determination
by the Company (including by its directors or any Independent Counsel) that Indemnitee has not satisfied any applicable standard
of conduct may be used as a defense to any legal proceedings brought by Indemnitee to secure indemnification or reimbursement or
advance payment of Expenses by the Company hereunder or create a presumption that Indemnitee has not met any applicable standard
of conduct.

 

(ii)           Reliance
as a Safe Harbor. For purposes of this Agreement, and without creating any presumption as to a lack of good faith if the following
circumstances do not exist, Indemnitee shall be deemed to have acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the Company if Indemnitee's actions or omissions to act are taken in good faith
reliance upon the records of the Company, including its financial statements, or upon information, opinions, reports or statements
furnished to Indemnitee by the officers or employees of the Company or any of its subsidiaries in the course of their duties,
or by committees of the Board or by any other Person (including legal counsel, accountants and financial advisors) as to matters
Indemnitee reasonably believes are within such other Person's professional or expert competence and who has been selected with
reasonable care by or on behalf of the Company. In addition, the knowledge and/or actions, or failures to act, of any director,
officer, agent or employee of the Company shall not be imputed to Indemnitee for purposes of determining the right to indemnity
hereunder.

 

(iii)          No
Other Presumptions. For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with
or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption that
Indemnitee did not meet any applicable standard of conduct or have any particular belief, or that indemnification hereunder is
otherwise not permitted.

 

(iv)          Defense
to Indemnification and Burden of Proof. It shall be a defense to any action brought by Indemnitee against the Company to enforce
this Agreement (other than an action brought to enforce a claim for Losses incurred in defending against a Claim related to an
Indemnifiable Event in advance of its final disposition) that it is not permissible under applicable law for the Company to indemnify
Indemnitee for the amount claimed. In connection with any such action or any related Standard of Conduct Determination, the burden
of proving such a defense or that the Indemnitee did not satisfy the applicable standard of conduct shall be on the Company.

 

     

     

    

 

9.            Exclusions from Indemnification. Notwithstanding anything in this Agreement to the contrary, the Company shall not
be obligated to:

 

(a)           indemnify or advance funds to Indemnitee for Expenses or Losses with respect to proceedings initiated by Indemnitee, including
any proceedings against the Company or its directors, officers, employees or other indemnitees and not by way of defense, except:

 

(i)            proceedings referenced in Section 4 above (unless a court of competent jurisdiction determines that each of the material
assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous); or

 

(ii)           where
the Company has joined in or the Board has consented to the initiation of such proceedings.

 

(b)           indemnify
Indemnitee if a final decision by a court of competent jurisdiction determines that such indemnification is prohibited by applicable
law.

 

(c)          indemnify
Indemnitee for the disgorgement of profits arising from the purchase or sale by Indemnitee of securities of the Company in violation
of Section 16(b) of the Exchange Act, or any similar successor statute.

 

(d)           indemnify or advance funds to Indemnitee for Indemnitee's reimbursement to the Company of (i) any bonus or other incentive-based
or equity-based compensation previously received by Indemnitee or payment of any profits realized by Indemnitee from the sale of
securities of the Company, as required in each case under the Exchange Act (including any such reimbursements under Section 304
of the Sarbanes-Oxley Act of 2002 in connection with an accounting restatement of the Company or the payment to the Company of
profits arising from the purchase or sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act) and
(ii) any amounts required to be repaid under the Company’s Clawback Policy.

 

10.          Settlement of Claims. The Company shall not be liable to Indemnitee under this Agreement for any amounts paid in
settlement of any threatened or pending Claim related to an Indemnifiable Event effected without the Company's prior written consent,
which shall not be unreasonably withheld; provided, however, that if a Change in Control has occurred, the Company shall be liable
for indemnification of the Indemnitee for amounts paid in settlement if an Independent Counsel has approved the settlement. The
Company shall not settle any Claim related to an Indemnifiable Event in any manner that would impose any Losses on the Indemnitee
without the Indemnitee's prior written consent.

 

11.          Duration.
All agreements and obligations of the Company contained herein shall continue during the period that Indemnitee is a director
or officer of the Company (or is serving at the request of the Company as a director, officer, employee, member, trustee or
agent of another Enterprise) and shall continue thereafter (i) so long as Indemnitee may be subject to any possible Claim
relating to an Indemnifiable Event (including any rights of appeal thereto) and (ii) throughout the pendency of any
proceeding (including any rights of appeal thereto) commenced by Indemnitee to enforce or interpret his or her rights under
this Agreement, even if, in either case, he or she may have ceased to serve in such capacity at the time of any such Claim or
proceeding.

 

     

     

    

 

12.          Non-Exclusivity.
The rights of Indemnitee hereunder will be in addition to any other rights Indemnitee may have under the Constituent
Documents, the General Corporation Law of the State of Delaware, any other contract or otherwise (collectively,
 "Other Indemnity Provisions"); provided, however, that (a) to the extent that Indemnitee otherwise would
have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will be deemed to have such greater
right hereunder and (b) to the extent
that any change is made to any Other Indemnity Provision which permits any greater right to indemnification than that
provided under this Agreement as of the date hereof, Indemnitee will be deemed to have such greater right hereunder.

 

13.          Liability
Insurance. For the duration of Indemnitee's service as an officer of the Company, and thereafter for so long as Indemnitee
shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts
(taking into account the scope and amount of coverage available relative to the cost thereof) to continue to maintain in effect
policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope
and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies
of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner
as to provide Indemnitee the same rights and benefits as are provided to the most favorably insured of the Company's directors,
if Indemnitee is a director, or of the Company's officers, if Indemnitee is an officer (and not a director) by such policy. Upon
request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders,
policies, declarations, endorsements and other related materials.

 

14.          No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment to Indemnitee in respect
of any Losses to the extent Indemnitee has otherwise received payment under any insurance policy, the Constituent Documents, Other
Indemnity Provisions or otherwise of the amounts otherwise indemnifiable by the Company hereunder.

 

15.          Subrogation.
In the event of payment to Indemnitee under this Agreement, the Company shall be subrogated to the extent of such payment to all
of the rights of recovery of Indemnitee. Indemnitee shall execute all papers required and shall do everything that may be necessary
to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to
enforce such rights.

 

16.          Amendments.
No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties
hereto. No waiver of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party
against whom enforcement of the waiver is sought, and no such waiver shall operate as a waiver of any other provisions hereof
(whether or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided herein, no failure
to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof.

 

17.          Binding
Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and
their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to
all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs and personal and legal
representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all or a substantial part of the business and/or assets of the Company, by
written agreement in form and substances satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no such succession had taken
place.

 

     

     

    

 

18.          Severability.
The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any portion thereof)
are held by a court of competent jurisdiction to be invalid, illegal, void or otherwise unenforceable, and the remaining provisions
shall remain enforceable to the fullest extent permitted by law.

 

19.          Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed
to have been duly given if delivered by hand, against receipt, or mailed, by postage prepaid, certified or registered mail:

 

		(a)	if to Indemnitee, to the address set forth on the signature page hereto.

 

		(b)	if to the Company, to: Rush Street Interactive, Inc.

 

Attn: Greg Carlin

900 N. Michigan Avenue, Suite 1600

Chicago, Illinois 60611

Attention: Chief Executive Officer Email:

 

Notice of
change of address shall be effective only when given in accordance with this Section. All notices complying with this Section shall
be deemed to have been received on the date of hand delivery or on the third business day after mailing.

 

20.          Governing
Law and Forum. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Delaware applicable to contracts made and to be performed in such state without giving effect to its principles of conflicts of
laws. The Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of
or in connection with this Agreement shall be brought only in the Delaware Court and not in any other state or federal court in
the United States, (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding
arising out of or in connection with this Agreement and (c) waive, and agree not to plead or make, any claim that the Delaware
Court lacks venue or that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient
forum.

 

21.          Headings.
The headings of the sections and paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction or interpretation thereof.

 

22.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original,
but all of which together shall constitute one and the same Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

     

     

    

 

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

 

	 	RUSH STREET INTERACTIVE, INC.
	 	 
	 	By:	          
	 	Name:	 
	 	Title:	 

 

Signature Page to
Indemnification Agreement

 

     

     

    

 

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

 

	 	INDEMNITEE
	 	 
	 	By:	      
	 	Name:	 
	 	Address:	 
	 	 
	 	 

 

Signature Page to Indemnification AgreementExhibit 10.26

 

Rush
Street Interactive L.P.

900
N. Michigan Avenue, Suite 1600

Chicago,
Illinois 60611

 

October 5, 2020

 

VIA ELECTRONIC MAIL

 

Kyle L. Sauers

 

Re:      Offer of Employment
from Rush Street Interactive L.P.

 

Dear Kyle:

 

We are pleased to confirm
our offer of employment to you as the Chief Financial Officer of Rush Street Interactive L.P. ("RSI") and its to-be publicly
traded company, Rush Street Interactive, Inc., resulting from the closing of the Business Corporation, as defined below (collectively
for purposes of this offer, the "Company"). The purpose of this letter is to set forth the terms of our offer of employment.

 

Start Date & Compensation

 

If you accept this
offer subject to its terms and conditions, your employment will commence on or before on October 23, 2020 ("Start Date").
Your starting bi-weekly base salary is $17,307.69, which, annualized would equal $450,000.00 ("Base Salary"). Base Salary
is paid in accordance with the Company's typical payroll procedures and is prorated for any partial months worked.

 

Upon your Start Date,
you would be eligible to participate in any employee benefit plans that are generally available to RSI's employees, subject to
the terms and conditions of those plans. You may refer to RSI's summary plan description and its policies for more detailed information
about the RSI's benefit policies and programs.

 

In consideration
of your agreement to all the terms and conditions set forth below, the Company agrees to provide you a one-time signing bonus
as follows: (a) no later than the first payroll period following your Start Date with a one-time cash award of $250,000 and
(b) dependent on the successful closing of the contemplated transaction (the "Business Combination") between the
Company and dMY Technology Group Inc.("DMYT"), a one-time equity award ("Equity Award") valued at
$2,562,500.00 on the date of the grant, which is to occur as soon as practicable after the Business Combination based on a
stock price equal to the 20 day trailing average stock price of DMYT prior to the Start Date ("Stock Price"), and
to be capped at a minimum of $12.00 and a maximum of $13.00. Such Equity Award is to be granted in the form of restricted
shares, $762,500.00 worth of which are to vest immediately upon the Start Date, and the remaining $1,800,000.00 of which are
to vest in equal installments on the first four anniversaries of the Start Date, subject to the terms of the applicable grant
agreement. In the event that the Business Combination fails to occur by March 31, 2021, in lieu of the Equity Award, RSI
agrees to provide you with interests in RSI such that you would own an equal percentage of RSI to the percentage ownership
the Equity Award would have given you in DMYT at a value of $12.00 per share.

 

    1

     

    

 

On the commencement
of your employment, you become eligible to participate in the Company's discretionary bonus plan. Bonuses under the plan are determined
in the Company's discretion and may be changed or discontinued at any time, provided that if the bonus plan is discontinued or
your discretionary bonus opportunity is materially reduced, this would provide Good Reason for your termination, subject to the
Company's right to cure as set forth below.

 

Your discretionary target bonus under the current bonus plan is 80% of any Base Salary
that was actually paid out during the bonus plan year; provided, however, that your actual discretionary bonus may be anywhere
from 40% to 120% of your Base Salary; provided that receiving a bonus in this range is to be based on your achievement of to-be-defined
performance goals related to corporate/financial and individual objectives (e.g., related to revenues, EBITDA) and strategic objectives.
Notwithstanding the discretionary nature of Company bonuses, for 2020 only, your bonus will be no less than 80% of your pro rata
Base Salary earned in 2020. Subject to applicable law, discretionary bonus awards are contingent upon your continued employment
with the Company on the discretionary bonus payment date (“Payment Date”).

 

In addition, you
will be eligible to participate, subject to its terms and conditions, in the Company's long-term incentive compensation plan,
which plan is currently being evaluated and designed (“Long-Term Compensation Plan”). The amount of your annual
long-term incentives under the Long-Term Compensation Plan is to be equal to two times your annualized Base Salary. Subject
to the terms of the Long-Term Compensation Plan, your Long-Term Compensation grants are intended to vest based on
time-vesting and performance-based vesting. The first of the Long Term Compensation grants shall be made no later than June
30, 2021. The performance-based vesting grants are anticipated to cover a three-year period and on a rolling basis (e.g.,
2021-2023, 2022-2024, etc.). Such grants may include a combination of stock options and shares/units. To the extent any
dividends are paid, they are expected to accumulate and be payable upon award settlement of shares/units to the extent the
award is deemed to have been earned.

 

Duties

 

You will spend your
full working time in service as Chief Financial officer of the Company and will report to the Company's Chief Executive Officer.
In your role as Chief Financial Officer, you will owe a fiduciary responsibility to the Company and will be responsible for financial
performance of the Company.

 

    2

     

    

 

At-Will Employment

 

Subject to the financial
severance provisions set forth below, your employment with the Company will be, at all times, at will rather than for a defined
period. This means that you may leave your employment with the Company at any time, and the Company may, in its sole discretion,
terminate your employment at any time without notice and for any reason or no reason at all. No one other than the Company's Chief
Executive Officer has the authority to alter the at- will nature of your employment, to enter into an agreement for employment
for a specified period of time, or to make any agreement that amends or alters the terms and conditions of this letter must be
in writing, must reference this letter of agreement and must be signed by the Chief Executive Officer.

 

Payments at Termination

 

If, during your employment
with the Company, you die or become disabled, arc terminated without Cause (as defined below), resign for Good Reason (as defined
below), or there is a change of control ("Change of Control," as that term is defined in the Companies policies and explicitly
excluding the Business Combination and any transactions associated with it), you are entitled to the following benefits; provided
that you sign a release agreement in a form provided to you by the Company and comply with all of your respective restrictive covenants
as set forth in Exhibit A.

 

Benefits upon
Termination Due To Death/Disability

 

Should you die or become
disabled during your employment with the Company, you will receive a pro-rata bonus for the year of termination based on target
performance. Your unvested equity awards will be subject to accelerated vesting. Any performance-based equity grants for the year
of any termination will vest, pro-rata (from start of performance period through date of termination) and be earned based on actual
performance at the end of the performance period.

 

Benefits upon an Involuntary
Termination Without Cause or Voluntary Termination for Good Reason Prior to a Change of Control

 

If, during your employment
with the Company, you are terminated without Cause or resign for Good Reason prior to a Change of Control, you will receive:

 

		i)	a prorated bonus for the year based on actual performance;

 

		ii)	a cash severance payment equal to the sum of your annualized Base Salary and target bonus. Cash
severance payment will be payable in 12 monthly installments (subject, potentially, to any delay required to avoid 409A penalties)
or in lump sum at the Company's direction;

 

		iii)	payment of COBRA health care continuation premiums for 12 months, provided that you timely elect
COBRA coverage; and

 

		iv)	partial accelerated vesting of unvested time-based equity awards (specifically acceleration of
equity that would have otherwise vested within 12 months following the date of
termination) with any performance-based equity earned based on pro- rata amount (from start of performance period through date
of termination) and actual performance at end of performance period.

 

    3

     

    

 

Benefits upon an Involuntary
Termination Without Cause or Voluntary Termination for Good Reason within Twelve Months following a Change of Control

 

If, during your employment
with the Company, you are terminated without Cause or resign for Good Reason within twelve months following a Change of Control,
you will receive:

 

		i)	a prorated bonus for the year based on actual performance;

 

		ii)	Cash severance payment equal to twice the sum of your annualized Base Salary and target bonus,
payable in a lump sum within 30 days of termination (subject to a potential 6-month delay to avoid 409A penalties);

 

		iii)	Payment of COBRA premiums for 12 months, provided that you elect COBRA coverage;

 

		iv)	Equity acceleration discussed immediately below under the heading "Treatment of Equity
upon a Change of Control.”

 

If by reducing such
benefits, it would be financially advantageous for you on a net-after- tax basis, your benefits may be reduced. In all cases, you
are responsible for any tax consequences of the benefits provided in this offer.

 

Treatment of Equity upon a Change
of Control

 

Upon any Change of
Control during your employment with the Company, other than the Business Combination and any transactions associated with it, with
respect to any of the Long-Term Compensation Plan equity grants described above that you have received, but have not vested, the
following treatment shall apply:

 

		§	Any granted but unvested time-based equity awards shall vest upon the Change of Control;

 

		§	Any granted but unvested performance-based equity awards shall immediately , at the successor entity's
option, be replaced with new performance-based publicly traded equity awards, provided that if replaced, the value of and associated
performance conditions (including the time period for such performance and vesting) of any such replacement awards can be substantially
replicated to those of any performance-based equity award being replaced.

 

		§	If the successor entity does not assume, convert, or replace the performance-based equity awards
as set forth above, such performance-based equity awards shall fully vest, based upon the greater of target or Company's actual
performance achieved (as set forth in the award agreement) through the date of the Change of Control. Any such granted but unvested
performance-based equity awards shall immediately vest upon your involuntary termination without Cause or any voluntary termination
for Good Reason within twelve months of any Change of Control.

 

    4

     

    

 

For the purposes of this letter “Cause"
means your:

 

		i)	willful failure to substantially perform the lawful instructions of the Company (other than as
a result of total or partial incapacity due to physical or mental illness) following the Company's written notice to you of such
failure and you failing to cure such failure within 10 days;

 

		ii)	theft or embezzlement of Company property;

 

		iii)	dishonesty in the performance of your duties resulting in material harm to the Company;

 

		iv)	failure or inability to obtain or maintain required licenses/permits as required by any applicable
statute, rule, or regulation relating to gaming in jurisdictions where the Company has operations or seeks to have operations,
provided that if curable, you shall have the opportunity to avail yourself of any appeal of any denied license or permit provided
that you are permitted to continue working for the Company during such appeal period;

 

		v)	inability to work for the Company at the direction of any applicable gaming board or commission;

 

		vi)	engaging in any act that constitutes (a) a felony under the laws of the United States or any state
or federal district thereof or, where applicable, any other equivalent offence (including a crime subject to a custodial sentence)
under the laws of any applicable jurisdiction, or (b) any other crime involving moral turpitude;

 

		vii)	willful or gross misconduct in connection with the exercise or failure to exercise your duties
which, in the reasonable good faith judgment of the Company, could reasonably be expected to be materially injurious to the financial
condition or business reputation of the Company or its affiliates; or

 

		viii)	breach of the provisions of any restrictive covenant with the Company or its affiliates.

 

For the purposes of
this letter "Good Reason" means any of the following occurrences, which the Company fails to cure within 30 days of you
giving written notice of any event that would constitute Good Reason:

 

		i)	a material diminution in your Base Salary or annual bonus opportunity;

 

		ii)	a material diminution in your authority, duties or responsibilities;

 

		iii)	a material diminution in the authority, duties, or responsibilities of the supervisor to whom you
are directed or required to report;

 

    5

     

    

 

		iv)	a material change in the geographic location (in excess of 50 miles) at which you are required
to perform the services required by your position; or

 

		v)	any other action or inaction that constitutes a material breach of any agreement under which you
provide services to the Company.

 

Compliance with Gaming Laws

 

As required by the
statutes, rules and regulations relating to gaming where the Company operates or is regulated (collectively, the "Gaming Laws"),
you must timely obtain and maintain all permits or licenses required under the Gaming Laws. In addition, you agree to comply with
all Gaming Laws applicable to you as an employee and officer of the Company as well as to assist the Company, as necessary, in
complying with the Gaming Laws.

 

Notwithstanding any
other provision of this offer, if you fail to comply with the Gaming Law or if you are denied a required license or permit following
the end of all applicable appeal periods, or if a regulator in a jurisdiction where the Company operates or is regulated requires
that the Company terminate your employment, your employment shall terminate immediately, without notice or action and without liability
on the part of Company.

 

Additional Conditions of Employment
and Offer Terms

 

In addition to compliance
with Gaming Laws, please note that this offer and your continued employment with the Company are contingent upon:

 

		1.	l. Your successful completion of any pre-employment screening process that the Company may require,
which includes verification of your eligibility to work and the signing any requisite authorization forms to facilitate such efforts;

 

		2.	You remaining in good standing with the Company and, in its discretion, any applicable gaming boards/commissions
and the Company receives all required approvals to create your position from gaming boards/commissions;

 

		3.	Your execution of additional agreements and your pledge to perform additional obligations as required,
from time to time, by Company policy, applicable law, and Gaming Laws. Your eligibility for salary increases, bonuses, and to participate
in any Long-Term Compensation will require your execution of and adherence to restrictive covenants and such other agreements;

 

		4.	Your acknowledgement and continued agreement that, in addition to the terms mentioned in this offer
letter, you will be subject to the rules and regulations applicable to all Company employees;

 

		5.	Your acknowledgement that your ownership of any equity is subject to any policy that may be adopted
by the Company, including any phase-in requirements;

 

    6

     

    

 

		6.	Your acknowledgement that all disputes arising out of your employment shall be resolved by arbitration,
and that the Company shall reimburse you for legal fees and expenses if you prevail on at least one material issue at arbitration;

 

		7.	Your acknowledgement that any amounts paid or payable pursuant to agreement are subject to recoupment
to the extent necessary to comply with applicable law (including Dodd-Frank Act requirements) and/or any policy that the Company
may adopt);

 

		8.	Your acknowledgement that payments of amounts or awards due pursuant to this letter may be delayed
in the Company’s discretion for the purpose of complying with Section 409A as advised by counsel; and

 

		9.	Your execution of a confidentiality and restrictive covenant agreement in a form provided by the
Company. Such agreement will, among other things, prohibit you from being employed, or working with in any manner, any internet
or application business or gaming establishment doing business in the United States where wagering is allowed including sports
betting platforms or any business subject to applicable gaming laws and regulations under any applicable laws where the business
operates or is regulated, for a period of 18 months following the termination of your employment with the Company. The agreement
will also prohibit you from soliciting the Company's and employees for a period of eighteen months after your employment is terminated
for any reason.

 

By signing below,
you represent and warrant that you are not currently a party to any agreement or other restriction that you would violate by accepting
this offer and performing the duties contemplated by this offer. This offer letter constitutes the entire agreement between you
and the Company and supersede all prior agreements, understandings, or arrangements, whether oral or written, among the parties
with respect to any matter related to this employment offer.

 

    7

     

    

 

Please accept this
offer by signing this offer letter where indicated and returning them to me.

 

We welcome you to the
Company and look forward to having you as part of the team.

 

	 	Sincerely,
	 	 
	 	/s/ Greg Carlin 10/8/20
	 	Greg Carlin
	 	Chief Executive Officer
	 	Rush Street Interactive, L.P.

 

I accept and agree to all terms and conditions of this offer
of employment:

 

	/s/ Kyle Sauers	 	October 5, 2020
	Kyle L. Sauers	 	Date

 

    8

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