Document:

Exhibit 10.5

 

MFN Amendment Agreement

 

AGREEMENT, dated as of September 23, 2022 (this “Agreement”),
by and between Puritan Partners LLC, a New York limited liability company (“Puritan Partners”), Verition Multi-Strategy Master
Fund Ltd. (“Verition,” and collectively with Puritan Partners, the “Purchasers”) and Nightfood Holdings, Inc.,
a Nevada corporation (the “Company”), having an address at 520 White Plains Road-Suite 500, Tarrytown, New York. 10591. Capitalized
terms used herein without definition shall have the meanings assigned to such terms in the Securities Purchase Agreement, dated as of
December 10, 2021, by and between the Purchasers and the Company (the “Securities Purchase Agreement”) and the Notes (as defined
therein), as the case may be.

 

WHEREAS, each of the Purchasers agreed to purchase pursuant
to the Securities Purchase Agreement an 8.0% Original Issue Discount Senior Secured Convertible Note in the principal amount of $543,478.26
due December 10, 2022 (each, a “Note” and collectively, the “Notes”) and 2,000,000 5-year warrants initially exercisable
at $0.25 to purchase shares of Common Stock of the Company (the “Purchasers Warrants”); and

 

WHEREAS, the Company plans to enter into a financing transaction
with Mast Hill Fund, L.P., a Delaware limited partnership (“Mast Hill”) pursuant to which Mast Hill shall be issued $700,000
principal amount of 8% unsecured subordinated Promissory Notes due September 23, 2023 of the Company, Warrants to purchase for 5 years
2,800,000 shares of the Company at an exercise price of $0.225 (the “Mast Hill Warrants”) and returnable Warrants to purchase
for 5 years 7,000,000 shares of the Company at an exercise price of $0.30 (the “Returnable Warrants”) ; and

 

WHEREAS, the Purchasers have certain rights pursuant to Section
4.14 of the Securities Purchase Agreement under which if the Company engages in any future financing transactions with a third-party investor
and the Purchasers determine that the terms of the subsequent investment are preferable in any respect to the terms of the Securities
of the Company issued to the Purchasers pursuant to the terms of the Securities Purchase Agreement, then the Company agrees to amend the
Securities, and as necessary, adjust the number of bonus shares or warrants or to include the preferable term contained in the instruments
evidencing the applicable Security.

 

NOW, THEREFORE, in consideration of the following and other
consideration, the receipt of which is hereby acknowledged, the parties agree to amend Purchasers’ Securities as follows:

 

		1.	The Company shall provide each of the Purchasers with 5,434,783 5-year Returnable Warrants at an initial Exercise Price per share
of $0.30, substantially in the form of Exhibit A hereto.

 

		2.	Section 4.10 of the Securities Purchase Agreement shall be amended to increase the Required Reserve Amount such that such amount shall
be “no less than four (4x) the sum of the maximum number of Conversion Shares, Returnable Warrant Shares and Warrant Shares (as
defined in the Note) issuable (assuming no payment of principal amount or interest) pursuant to the conversion of the Notes or exercisable
pursuant to the Warrant or Returnable Warrant (taking into consideration any adjustments to the conversion price or exercise price as
provided therein) (the “Required Reserve Amount”); provided that the aforementioned formula shall only be in effect on and
after the date that is six (6) calendar months after September 23, 2022.” Prior to September 23, 2022, the three (3x) reserve provided
in section 4.10 shall prevail, although the parties acknowledge that the Company shall not be seeking shareholder approval to increase
the authorized shares until March 23, 2022.

 

    

     

    

 

		3.	The Irrevocable Letter of Instruction dated December 10, 2021 (as amended) shall be amended to increase the Required Reserve amount
to the amount as set forth in paragraph 2 above.

 

		4.	The following Event of Default shall be added to Section 8(a) of the Note: “(xiv) the Company fails to maintain a market capitalization
of at least $4,000,000 on any Trading Day, which shall be calculated by multiplying (i) the closing price of the Company’s common
stock on the Trading Day immediately preceding the respective date of calculation by (ii) the total shares of the Company’s common
stock issued and outstanding on the Trading Day immediately preceding the respective date of calculation; (xv) the restatement of any
financial statements filed by the Company with the SEC for any date or period from two years prior to the Issue Date of this Note and
until this Note is no longer outstanding unless the Company restates such financial statements within fifteen (15) calendar days after
the date that the Company discloses its need to restate such financial statements in a filing with the Securities and Exchange Commission;
(xvi) in the event that the Company proposes to replace its transfer agent, the Company fails to provide, prior to the effective date
of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to the Purchase
Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by
the successor transfer agent to Company and the Company; (xvii)the Company consummates a Variable Rate Transaction at any time on or after
the Issue Date; and (xviii) any attempt by the Company or its officers, directors, and/or affiliates to transmit, convey, disclose, or
any actual transmittal, conveyance, or disclosure by the Company or its officers, directors, and/or affiliates of, material non-public
information concerning the Company , to the Holder or its successors and assigns, which is not immediately cured by Company’s filing
of a Form 8-K pursuant to Regulation FD on that same date.

 

		5.	The following provision shall be added to Section 8(b) of the Note: “Upon an Event of Default, the Conversion Price of the Note
shall be adjusted such that the per share conversion price into which Principal Amount and interest (including any Default Interest) shall
be convertible into shares of Common Stock upon an Event of Default shall equal $0.10, subject to adjustment.”

 

		6.	The following provision shall be added to Section 4(a) of the Note: ” Holder shall be entitled to deduct $1,750 from the conversion
amount in each Notice of Conversion to cover Holder’s fees associated with each Notice of Conversion.” The following provision
shall be added to Section 6(d) of the Note: ” $750.00 shall be added to each prepayment under this Section 6 to reimburse Holder
for administrative fees in conjunction therewith.”

 

		7.	The definition of Exempt Issuance in the Note shall be modified by eliminating paragraphs (d) and (e) thereof.

 

		8.	The parties acknowledge as a result of the modification of the conversion price of the Notes issued to Puritan Partners LLC and Verition
Multi- Strategy Fund Ltd. on December 10, 2022 to $.20/share (and not as a result of entering into the Mast Hill financing), the exercise
price on the warrants issue to such parties shall be reduced to $.20/share pursuant to section 3(b) of such warrants.

 

		9.	The Purchasers hereby irrevocably waives any payment default by the Company pursuant to the terms of the Notes, through the date hereof;
provided that the Company shall pay or prepay, as the case may be, to the Purchasers, on or prior to September 28, 2022, all amounts due
and owing through October 10, 2022. If the Purchasers shall not have received such payments on or prior to such date, such waiver shall
be null and void and of no effect.

 

    2

     

    

 

Each of the undersigned has caused this Agreement to be duly executed
and delivered as of the date first written above.

 

	 	NIGHTFOOD HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Sean Folkson
	 	 	Name: Sean Folkson
	 	 	Title: Chief Executive Officer
	 	 	 
	 	Puritan Partners LLC 
	 	 	 
	 	By:	/s/ Richard Smithline
	 	 	Name: Richard Smithline
	 	 	Title: Managing Member
	 	 	 
	 	Verition Multi-Strategy Fund 
	 	 	 
	 	By:	/s/ William Anderson
	 	 	Name: William Anderson
	 	 	Title: Authorized Signatory

 

 

3Exhibit 10.6

 

SUBORDINATION AGREEMENT

 

Dated: September 22, 2022

 

	To:	Puritan Partners LLC

4 Puritan Road

Rye, New York 10580

Attention: Richard Smithline Email:
rs@centrecourtam.com

 

Verition Multi-Strategy Master Fund
Ltd.

C/O Verition Fund Management LLC

One American Lane Greenwich CT 06831

Attention: William Anderson

 

Nightfood Holdings, Inc.,
a Nevada corporation (the “Company”) has issued to each of Puritan Partners LLC, a New York limited liability corporation
(“Puritan Partners”), and Verition Multi-Strategy Master Fund Ltd., a Cayman Islands corporation (“Verition” and,
collectively with Puritan, the “Lenders”), a $543,478.26 principal amount 8% Original Issue Discount Senior Secured Convertible
Note due December 10, 2022 of the Company (each a “Note,” and collectively, the “Notes”). The Company would
like to enter into a Securities Purchase Agreement dated on or around the date hereof (the “Securities Purchase Agreement”)
with Mast Hill Fund, L.P., a Delaware limited partnership (“Mast Hill”) pursuant to which Mast Hill shall be issued $700,000
principal amount of 8% unsecured Promissory Note (the “Mast Note”) of the Company, the Warrants (as defined in the
Securities Purchase Agreement) (the “Warrants”), and other transaction documents in conjunction therewith. The Lenders
have been provided with final copies of the Mast Note, the Warrants and Securities Purchase Agreement are attached hereto as Exhibit “A”.

 

1.
The Lenders hereby give authorization and consent to the Company to enter into the Securities Purchase Agreement with Mast Hill and associated
transaction documents.

 

2.
The Company and Mast Hill acknowledge and agree that Mast Hill shall not require the Company to utilize the initial $1,500,000 (the “Minimum
Threshold”) of cash proceeds that the Company receives on or after the issuance date of the Mast Note from any source or series
of related or unrelated sources from the issuance of equity (excluding the conversion of outstanding warrants of the Company), debt (excluding
the proceeds of the Mast Note), or the issuance of securities pursuant to an Equity Line of Credit (as defined in the Mast Note) of the
Company to make any payments on the Mast Note, as expressly provided in and pursuant to the terms of Section 1.10 of the Mast Note. The
term “Subordinated Obligations” means all obligations, or instruments setting forth such obligations of the Company
now existing or hereafter arising, to Mast Hill under any indebtedness, now outstanding or hereafter incurred or any assignee of Mast
Hill of all or a portion of the Mast Note. The term “Senior Debt” means any and all obligations of Company to the
Lenders or any other assignee of the Lenders of all or a portion of the Notes under, in connection with or in any way related to the
Notes or other transaction documents entered into with respect to the Notes. The Company and Mast Hill shall not amend Section 1.10 of
the Mast Note in any manner while the Notes are outstanding. The Company and Mast Hill shall not amend the Mast Note to provide a security
interest in the Company’s assets while the Notes are outstanding. Further, and for the avoidance of doubt, the Company and Mast
Hill acknowledge and agree that Mast Hill does not have the right to require the Company to use the proceeds from the Mast Note to repay
the Mast Note under Section 1.10 of the Mast Note.

 

    1

     

    

 

3.
Until the earlier of (i) the date that the Senior Debt is indefeasibly paid in full or (ii) the date that the Company has received cash
proceeds of more than the Minimum Threshold in the aggregate (for the avoidance of doubt, each time that the Company receives cash proceeds
on or after the issuance date of the Mast Note (excluding the proceeds of the Mast Note), such amount shall be aggregated together for
purposes of calculating the Minimum Threshold) from any source or series of related or unrelated sources from the issuance of equity
(excluding the conversion of outstanding warrants of the Company), debt, or the issuance of securities pursuant to an Equity Line of
Credit (as defined in the Mast Note) of the Company, the Company may not make, and Mast Hill may not accept, any payments in cash under
the Mast Note without the prior written consent of the Lenders.

 

4.
Notwithstanding anything to the contrary contained in this subordination agreement (the “Subordination Agreement”), Mast
Hill agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging
the priority, validity or effectiveness of the liens and security interests granted to the Lenders under the Notes and related transaction
documents.

 

5.
Mast Hill will not transfer or assign, except to the Lenders, any part of the Subordinated Obligations while any Senior Debt remains
outstanding, unless such transfer or assignment is made expressly subject to this Subordination Agreement. For the avoidance of doubt,
a transfer or assignment shall not include Mast Hill’s conversion of the Mast Note into the Company’s common stock.

 

6.
This Subordination Agreement contains the entire agreement between the parties regarding the subject matter hereof and may be amended,
supplemented or modified only by written instrument executed by the Lenders, Company, and Mast Hill.

 

7.
The undersigned represents and warrants that (a) neither the execution or delivery of this Subordination Agreement nor fulfillment of
nor compliance with the terms and provisions hereof will conflict with, or result in a breach of the terms, conditions, or provisions
of or constitute a default under any agreement or instrument to which the undersigned or any of the undersigned’s assets is now
subject; (b) the undersigned is sui juris and has the full right, power, authority and capacity to enter into this Subordination Agreement;
and (c) this Subordination Agreement has been duly and validly executed and delivered by the undersigned and constitutes the legal, valid
and binding obligation of the undersigned enforceable in accordance with its terms, except (1) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally and (2) as
limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

8.
This Subordination Agreement may be assigned by the Lenders in whole or in part in connection with any assignment or transfer of any
portion of the Senior Debt, and, in connection with such assignment or transfer, the undersigned shall, if requested by such assignee
or transferee, execute with such assignee or transferee a subordination agreement identical to this Subordination Agreement.

 

    2

     

    

 

9.
This Subordination Agreement shall be a continuing agreement, shall be binding upon and shall inure to the benefit of the parties hereto
from time to time and their respective heirs, successors, representatives and assigns, shall be irrevocable and shall remain in full
force and effect until the Senior Debt shall have been indefeasibly paid and satisfied in full in cash, but shall continue to be effective,
or be reinstated, as the case may be, if at any time payment, or any part thereof, of any amount paid by or on behalf of Company with
regard to the Senior Debt is rescinded or must otherwise be restored or returned upon any insolvency proceeding of any Company, or upon
or as a result of the appointment of a receiver, intervenor or conservator of, or trustee, custodian, or similar officer, for Company
or any substantial part of its property, or otherwise, all as though such payments had not been made.

 

10.
This Subordination Agreement, and all matters arising herefrom or relating hereto (whether arising in tort, contract or otherwise), shall
be governed by and construed in accordance with the laws of the State of New York, without regard to its otherwise applicable principles
of conflicts of laws. The provisions of this Subordination Agreement and other agreements and documents referred to herein are to be
deemed severable, and the invalidity or unenforceability of any provision shall not affect or impair the remaining provisions which shall
continue in full force and effect. Each party hereto irrevocably consents to the jurisdiction of the state or federal courts located
in the State of New York or the United States fo America for the Southern District of New York, in each case located in the County of
New York, in any and all actions and proceedings whether arising hereunder or under any other agreement or undertaking. EACH PARTY
HERETO HEREBY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION COMMENCED BY OR AGAINST ANY SENIOR
CREDITOR WITH RESPECT TO RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO.

 

11.
Two or more duplicate originals, as well as counterparts, of this Subordination Agreement may be signed by the parties, each of which
shall be an original but all of which together shall constitute one and the same instrument. Signature delivered by electronic mail,
facsimile or other electronic transmission shall bind the parties hereto.

 

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 

    3

     

    

 

Dated as of the date and year first set forth
above.

 

Intending to be legally bound,
the Lenders, Mast Hill, and the Company consents and agrees to the terms of the Subordination Agreement as of the date first above written:

 

	MAST HILL FUND, L.P.	 
	 	 	 
	By:	Patrick Hassani	 
	Name:  	Patrick Hassani	 
	Title: 	Chief Investment Officer	 
	 	 	 
	Agreed to and Acknowledged: 	 
	 	 	 
	PURITAN PARTNERS LLC	 
	 	 	 
	By:	Richard Smithline	 
	Name: 	Richard Smithline	 
	Title: 	Managing Member	 
	 	 	 
	VERITION MULTI- STRATEGY MASTER FUND LTD.	 
	 	 	 
	By:	William Anderson	 
	Name: 	William Anderson	 
	Title: 	Member	 
	 	 	 
	NIGHTFOOD HOLDINGS, INC.	 
	 	 	 
	By:	/s/ Sean Folkson	 
	Name: 	Sean Folkson	 
	Title: 	Chief Executive Officer	 

 

    

     

    

 

Exhibit “A”

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}]]