Document:

Exhibit 10.1

 

CONSULTING AGREEMENT

 

This Consulting Agreement ("Agreement")
is made and entered into effective this 2nd day of July, 2012, by and between NTN Buzztime, Inc., a Delaware corporation (the "Company"),
and JABAM, Inc. (“JABAM”) on the following terms and conditions:

 

RECITALS

 

A.The Company desires to retain JABAM
to provide certain services to the Company, all on the terms specifically described herein.

 

B.JABAM desires to perform such services
by assigning Jeff Berg as the Consultant, and make his experience and expertise available to the Company, all on the terms specifically
described herein.

 

AGREEMENT

 

NOW, THEREFORE, IN CONSIDERATION of the
mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereby agree as follows:

 

1.             Engagement.
The Company hereby engages JABAM to provide the Services (as defined below) to the Company, and JABAM hereby accepts such
engagement, all on the terms and conditions specifically described herein. 

 

2.             Term.

 

2.1.The term of this Agreement
shall commence on July 2, 2012 (the "Effective Date") and, unless earlier terminated in accordance with Section
7 shall expire on December 31, 2012.

 

3.            
Scope of Service. In exchange for the compensation set forth in Section 3, Consultant shall
serve the Company as its Interim Chief Executive Officer (the “CEO”) and shall have the powers, duties and
obligations of management typically vested in the office of the CEO, of a corporation, subject to the directives of the Company’s
Board of Directors (the “Board”) and the corporate policies of the Company as they are in effect and as amended
from time to time throughout the period of the agreement (including, without limitation, the Company’s business conduct
and ethics policies). Specifically, the CEO will work closely with the Board and senior management to launch and execute the overall
strategic and operational direction for the Company. Moreover, the CEO will establish responsibilities and procedures for attaining
objectives and reviews of operations and financial statements to evaluate achievement of those objectives. During the period of
the agreement, Consultant shall report to the Board. Consultant shall not, without the prior written consent of the Company, subcontract,
delegate or otherwise engage or permit any third party to perform any portion of the Services.

 

4.             Service
Fee. As full and complete compensation for Consultant's provision of the Services, the Company shall pay JABAM, Inc. a fee
("Service Fee") in the amount of $8,250 per month in arrears (pro rated if necessary) payable on or before the
15th of each month, with the first payment due on August 15, 2012 for services rendered from July 2, 2012 through July
31, 2012. In connection with performing the Services, Consultant is authorized to incur on behalf and for the benefit of, and shall
be reimbursed by, the Company for reasonable business expenses, provided that such expenses are substantiated in accordance with
the Company's policies. 

 

     

     

    

5.             No
Other Benefits. Consultant is an independent contractor of the Company and as such is not entitled to any benefits, or to participate
in any insurance plan or other fringe benefit program, that the Company may make available or furnish to its employees.

 

6.             Relationship
of the Parties. Notwithstanding any provision hereof, for all purposes of this Agreement, Consultant shall be and act as an
independent contractor and not as an employee, partner, joint venturer or agent of the Company. Consultant shall not have authority
to act on behalf of or to represent or bind the Company in any manner. Consultant is an independent contractor and is engaged to
render professional services only and any payments made by the Company to Consultant are compensation solely for such services
rendered. Consultant is solely responsible for all taxes, withholdings and other statutory or contractual obligations of any sort.
Consultant agrees to defend, indemnify and hold the Company harmless from any and all claims, damages, liability, attorneys' fees
and expenses on account of (i) an alleged failure by Consultant to satisfy any such obligations or any other obligation (under
this Agreement or otherwise) or (ii) any other action or inaction of Consultant.

 

7.            
Termination. Either party may terminate this Agreement for any reason upon at least 30 days
prior written notice. If the Company terminates this Agreement, upon receipt of the Company's written notice of termination, unless
stated to the contrary in such notice, Consultant shall immediately cease performing any of the Services. If this Agreement is
terminated pursuant to this Section 7, the Company's sole liability to Consultant shall be payment of that portion of the Service
Fee earned through the date of termination set forth in the notice of termination, less any payments previously made to Consultant.
If the Company paid any Service Fee to Consultant in advance, Consultant agrees to return to the Company any amount of the Service
Fee to which Consultant it not entitled as a result of the termination of this Agreement.

 

8.             Confidentiality
and Proprietary Rights. Consultant hereby acknowledges that in performing the Services he will make use of, acquire and add
to confidential information of a special and unique nature and value relating to the Company and its strategic plans and financial
operations, including, without limitation, all information, data, plans, strategies, ideas, documents and all other business, professional
or proprietary information of the Company, whether related to the performance of the Services or not. Consultant further recognizes
and acknowledges that all such confidential information is the exclusive property of the Company, is material and confidential,
and is critical to the successful conduct of the business of the Company. Consultant hereby covenants and agrees that he will use
confidential information for the benefit of the Company only and shall not at any time, directly or indirectly, without the Company's
prior written consent, divulge, reveal or communicate any confidential information to any person, firm, corporation or entity whatsoever,
or use any confidential information for any reason other than the performance of the Services and not for his own benefit or for
the benefit of others. Confidential information does not include any information which has become publicly and widely known and
made generally available through no wrongful act of Consultant or of others who were under confidentiality obligations as to the
information involved. All reports, plans, documents and other confidential information furnished to Consultant by the Company shall
be returned upon completion of the Services to be performed hereunder. 

 

9.             Injunctive
Relief. Consultant acknowledges that Consultant's breach of the covenants contained in Section 8 would cause irreparable
injury to the Company and agrees that in the event of any such breach, the Company shall be entitled to seek temporary,
preliminary and permanent injunctive relief without the necessity of proving actual damages or posting any bond or other
security.

 

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10.           
Agreement to Arbitrate. Any controversy arising out of or relating to this Agreement, the
enforcement or interpretation of this Agreement, or because of an alleged breach, default or misrepresentation in connection with
any of the provisions of this Agreement, shall be submitted to arbitration in San Diego County, California, before a sole arbitrator
selected from Judicial Arbitration and Mediation Services, Inc. or its successor ("JAMS"), or if JAMS is no longer
able to supply the arbitrator, such arbitrator shall be selected from the American Arbitration Association; provided, however,
that provisional injunctive relief may, but need not, be sought in a court of law while arbitration proceedings are pending, and
any provisional injunctive relief granted by such court shall remain effective until the matter is finally determined by the arbitrator.
In no event shall the request for arbitration be made after the date when institution of legal or equitable proceedings based
on such claims would be barred by the applicable statute of limitations. The arbitration shall be administered by JAMS pursuant
to its Comprehensive Arbitration Rules and Procedures, subject to the following: the arbitrator shall permit adequate discovery
and is empowered to award all remedies otherwise available in a court of competent jurisdiction (including injunctive relief as
contemplated by Section 9 or otherwise); and the arbitrator shall issue an award in writing and state the essential findings and
conclusions on which the award is based. Judgment on the award may be entered in any court having jurisdiction. The parties acknowledge
and agree that they are hereby waiving any rights to trial by jury in any action, proceeding or counterclaim brought by either
of the parties against the other in connection with any matter whatsoever arising out of or in any way connected with any of the
matters referenced in the first sentence of the first paragraph of this section. If either party shall commence an action or proceeding
to enforce any provisions of this Agreement, then the prevailing party in such action or proceeding shall be awarded its reasonable
attorneys' fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding
to be paid for by the non-prevailing party.

 

11.           Miscellaneous
Provisions. The following provisions shall apply to this Agreement:

 

11.1Survival.
Sections 8 ("Confidentiality and Proprietary Rights"), 9 ("Injunctive Relief"), 10 ("Agreement to Arbitrate"),
and 11 ("Miscellaneous Provisions") of this Agreement shall survive the termination of this Agreement.

 

11.2Further
Acts. Each party agrees to perform any further acts and to execute and deliver any further documents reasonably necessary
or proper to carry out the intent of this Agreement.

 

11.3Time.
Time is of the essence with respect to all provisions of this Agreement.

 

11.4Entire
Agreement. This Agreement constitutes the entire agreement between the Company and Consultant concerning the subject matter
hereof and supersedes any prior agreements between the parties concerning said subject matter. This Agreement may not be modified
or amended except by writing signed by both parties. 

 

11.5Assignment.
The respective rights and obligations of Consultant shall not be assignable. Subject to such restriction on assignment, this Agreement
shall be binding upon and inure to the benefit of each party and its successors and assigns.

 

11.6Choice
of Law. This Agreement shall be deemed to be a contract under the laws of the State of California and for all purposes shall
be construed and enforced in accordance with the internal laws of said state without regard to the principals of conflicts of law.

 

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11.7Severability.
If any provision of this Agreement is determined to be invalid or unenforceable, such invalidity or unenforceability shall attach
only to such provision and shall not in any manner affect or render invalid or unenforceable any other provision of this Agreement.

 

11.8Counterparts;
Facsimile. This Agreement may be executed in one or more counterparts, all of which taken together shall be deemed one original.
Facsimile and electronic (i.e., PDF) signatures shall be as effective as original signatures.

 

11.9No
Waiver. No waiver of any breach or default hereunder shall be considered valid unless in writing, and no such waiver shall
be deemed a waiver of any subsequent breach or default of the same or similar nature. 

 

(Signature Page Follows)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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IN WITNESS THEREOF, the parties hereto have
each executed or cased to be executed this Agreement as of the date first written above.

 

	 	 	
        Company:

         

         

	JABAM, Inc., a Delaware corporation	 	NTN Buzztime, Inc., a Delaware corporation
	 	 	 
	/s/ Jeff Berg	 	/s/ Kendra Berger
	By:  Jeff Berg	 	By: Kendra Berger
	Its:  President	 	
        Its: Chief Financial Officer

         

 

 

 

 

 

 

 

 

 

 

 

 

5Exhibit 10.2

 

NTN BUZZTIME, INC.

2010 PERFORMANCE INCENTIVE PLAN

STOCK UNIT AGREEMENT

 

NTN Buzztime, Inc., a Delaware corporation
(the “Company”), hereby awards Stock Units to the Participant named below. The terms and conditions of the Award are
set forth in this cover sheet, in the attached Stock Unit Agreement and in the NTN Buzztime, Inc. 2010 Performance Incentive Plan
(the “Plan”).

 

	Date of Award:	________________, 201__

 

	Name of Participant:	 

 

	Participant’s Social Security Number:	_____-____-_____

 

	Number of Stock Units Awarded:	 	 

 

Vesting Schedule:

 

Subject to all the terms of the Agreement, as long as you render
continuous Service, you will become vested as to 25% of the total number of Stock Units awarded, as shown above, on the date that
is six months after the Date of Award (the “Six Month Vesting Date”). Thereafter, subject to your continuous Service,
on each monthly anniversary of the Six Month Vesting Date for the eighteen months following the month of the Six Month Vesting
Date, one-twenty-fourth (1/24) of the total number of Stock Units covered by this Award shall become incrementally vested. In all
cases, the resulting aggregate number of vested Stock Units will be rounded down to the nearest whole number. Upon termination
of your Service at any time and for any reason or no reason, all of your then unvested Stock Units shall be forfeited to the Company
without consideration as of your Termination Date. No partial vesting credit will be provided no matter when your Termination Date
occurs.

 

By signing this cover sheet, you agree to
all of the terms and conditions described in the attached Stock Unit Agreement and in the Plan and the Plan's prospectus. You are
also acknowledging receipt of this Agreement and a copy of the Plan and the Plan's prospectus.

 

	Participant:	 
	 	(Signature)
	 	 
	Company:	 
	 	(Signature)
	 	 
	Name:	 
	 	 
	Title:	 

 

 

     

     

    

Attachment 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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NTN BUZZTIME, INC.

2010 PERFORMANCE INCENTIVE PLAN

STOCK UNIT AGREEMENT

 

	The Plan and Other Agreements	
        The text of the Plan is incorporated in this Agreement by this
        reference. You and the Company agree to execute such further instruments and to take such further action as may reasonably be necessary
        to carry out the intent of this Agreement. Unless otherwise defined in this Agreement, certain capitalized terms used in this Agreement
        are defined in the Plan.

 

        This Agreement and the Plan constitute the entire understanding
        between you and the Company regarding this Award of Stock Units. Any prior agreements, commitments or negotiations are superseded.

 

	Award of Stock Units	The Company awards you the number of Stock Units shown on the cover sheet of this Agreement.  The Award is subject to the terms and conditions of this Agreement and the Plan.

	Vesting	The Stock Units subject to this Award shall become vested pursuant to the Vesting Schedule shown in the cover sheet.  Only vested Stock Units shall be eligible for settlement.

	Settlement	To the extent a Stock Unit becomes vested and subject to your satisfaction of any tax withholding obligations as discussed below, each vested Stock Unit will entitle you to receive one Share which will be distributed to you upon the earlier to occur of: (i) a Change in Control or (ii) as soon as practicable after vesting but in any event within fifteen days of the date of vesting for such Stock Unit.  Issuance of Shares shall be in complete satisfaction of such vested Stock Units.  Such settled Stock Units shall be immediately cancelled and no longer outstanding and you shall have no further rights or entitlements related to those settled Stock Units.

	No Assignment	Stock Units shall not be sold, anticipated, assigned, attached, garnished, optioned, transferred or made subject to any creditor’s process, whether voluntarily, involuntarily or by operation of law.  If you attempt to do any of these things, this Award will immediately become invalid.  However, this shall not preclude a transfer of vested Stock Units by will or by the laws of descent and distribution.  In addition, pursuant to Company procedures, you may designate a beneficiary who will receive any outstanding vested Stock Units in the event of your death.

	Leaves of Absence	
        For purposes of this Agreement, while you are a common-law employee,
        your Service does not terminate when you go on a bona fide leave of absence that was approved by the Company (or its Parent,
        Subsidiary or Affiliate) in writing, if the terms of the leave provide for continued Service crediting, or when continued Service
        crediting is required by applicable law. Your Service terminates in any event when the approved leave ends, unless you immediately
        return to active work.

 

        The Company determines which leaves count for this purpose (along
        with determining the effect of a leave of absence on vesting of the Award), and when your Service terminates for all purposes under
        the Plan.

 

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	Voting and Other Rights	
        A holder of Stock Units shall have no rights other than those
        of a general creditor of the Company. Subject to the terms of this Agreement, a holder of outstanding Stock Units has none of the
        rights and privileges of a stockholder of the Company, including no right to vote or to receive dividends (if any). Subject to
        the terms and conditions of this Agreement, Stock Units create no fiduciary duty of the Company to you and only represent an unfunded
        and unsecured contractual obligation of the Company. The Stock Units shall not be treated as property or as a trust fund of any
        kind.

 

        You, or your estate or heirs, have no rights as a stockholder
        of the Company until a certificate for your Shares has been issued. No adjustments are made for dividends or other rights if the
        applicable record date occurs before your stock certificate is issued, except as described in the Plan.

 

	Restrictions
    on
 Issuance	The Company
    will not issue any Shares if the issuance of such Shares at that time would violate any law or regulation.

    

	Taxes and Withholding	You
        will be solely responsible for payment of any and all applicable taxes, including without limitation any penalties or
        interest based upon such tax obligations, associated with this Award.

 

        The
        delivery to you of any Shares underlying vested Stock Units will not be permitted unless and until you have satisfied
        any withholding or other taxes that may be due. Any such tax withholding obligations may be settled in the Company's discretion
        by the Company withholding and retaining a portion of the Shares from the Shares that would otherwise be deliverable to
        you under the vesting Stock Units as provided in the next two sentences. Such withheld Shares will be applied to pay the
        withholding obligation by using the aggregate fair market value of the withheld Shares as of the date of vesting.
        You will be delivered the net amount of vested Shares after the Share withholding has been effected and you will not receive
        the withheld Shares.

 

        It
        is intended that payments under this Agreement will be exempt from Code Section 409A but the Company makes no representation
        or covenant to ensure that the payments under this Agreement are so exempt from, or compliant with, Code Section 409A,
        and will have no liability to you or any other party if a payment under this Agreement that is intended to be exempt from,
        or compliant with, Code Section 409A is not so exempt or compliant. To the extent applicable, each payment provided to
        you shall be considered a separate payment and not one of a series of payments for purposes of Code Section 409A.

 

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	 	Notwithstanding anything to the contrary, if, upon your "separation from service" (as defined in Code Section 409A), you are then a Company “specified employee” (as defined in Code Section 409A), then to the extent necessary to comply with Code Section 409A, the Company shall defer payment of certain of the amounts owed to you under this Agreement until the earlier of (i) ten (10) days after the Company receives written confirmation of your death or (ii) the first business day of the seventh month following your separation from service.  Any such delayed payments shall be made to you (or your beneficiaries) without interest.

	Restrictions on Resale	
        By signing this Agreement, you agree not to
        sell, transfer, dispose of, pledge, hypothecate, make any short sale of, or otherwise effect a similar transaction of any Shares
        acquired under this Award (each a “Sale Prohibition”) at a time when applicable laws, regulations or Company or underwriter
        trading policies prohibit the disposition of Shares.

 

        The Company shall have the right to designate one or more periods
        of time, each of which generally will not exceed one hundred eighty (180) days in length (provided however, that such period
        may be extended in connection with the Company’s release (or announcement of release) of earnings results or other material
        news or events), and to impose a Sale Prohibition, if the Company determines (in its sole discretion) that such limitation(s) is
        needed in connection with a public offering of Shares or to comply with an underwriter’s request or trading policy, or could
        in any way facilitate a lessening of any restriction on transfer pursuant to the Securities Act or any state securities laws with
        respect to any issuance of securities by the Company, facilitate the registration or qualification of any securities by the Company
        under the Securities Act or any state securities laws, or facilitate the perfection of any exemption from the registration or qualification
        requirements of the Securities Act or any applicable state securities laws for the issuance or transfer of any securities. The
        Company may issue stop/transfer instructions and/or appropriately legend any stock certificates issued pursuant to this Award in
        order to ensure compliance with the foregoing. Any such Sale Prohibition shall not alter the vesting schedule set forth in this
        Agreement.

 

        If the sale of Shares under the Plan is not registered under
        the Securities Act, but an exemption is available which requires an investment or other representation, you shall represent and
        agree at the time of settlement of vested Stock Units that the Shares being acquired under this Award are being acquired for investment,
        and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate
        by the Company and its counsel.

 

        You may also be required, as a condition of
        this Award, to enter into any Company stockholder agreement or other agreements that are applicable to stockholders.

 

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	No Retention Rights	Your Award or this Agreement does not give you the right to be retained by the Company (or any Parent or any Subsidiaries or Affiliates) in any capacity.  The Company (or any Parent and any Subsidiaries or Affiliates) reserves the right to terminate your Service at any time and for any reason.

	Extraordinary Compensation	This Award and the Shares subject to the Award are not intended to constitute or replace any pension rights or compensation and are not to be considered compensation of a continuing or recurring nature, or part of your normal or expected compensation, and in no way represent any portion of your salary, compensation or other remuneration for any purpose, including but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

	Adjustments	In the event of a stock split, a stock dividend or a similar change in the Company stock, the number of outstanding Stock Units covered by this Award may be adjusted (and rounded down to the nearest whole number) pursuant to the Plan.  Your Stock Units shall be subject to the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity.

	Legends	
        All certificates representing the Common Stock
        issued under this Award may, where applicable, have endorsed thereon the following legend and any other legend the Company determines
        appropriate:

 

        “THE SHARES REPRESENTED BY
        THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT
        BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE
        PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY BY THE HOLDER OF RECORD
        OF THE SHARES REPRESENTED BY THIS CERTIFICATE.”

 

 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”   

 

 

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	Notice	Any notice to be given or delivered to the Company relating to this Agreement shall be in writing and addressed to the Company at its principal corporate offices.  Any notice to be given or delivered to you relating to this Agreement shall be in writing and addressed to you at such address of which you advise the Company in writing.  All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified.

	
        Voluntary Participant

         
	You acknowledge that you are voluntarily participating in the Plan.

	No Rights to Future Awards	Your rights, if any, in respect of or in connection with any future Awards are derived solely from the discretionary decision of the Company to permit you to participate in the Plan and to benefit from a discretionary future Award.  By accepting this Award, you expressly acknowledge that there is no obligation on the part of the Company to continue the Plan and/or grant any additional Awards to you or benefits in lieu of any other Awards even if Awards have been granted repeatedly in the past.  All decisions with respect to future Awards, if any, will be at the sole and absolute discretion of the Committee.

	Future Value	The future value of the underlying Shares is unknown and cannot be predicted with certainty.  If the underlying Shares do not increase in value after the Date of Award, the Award will have less value (or even no value) than it may have on the Date of Award.  

	No Advice Regarding Award	The Company has not provided any tax, legal or financial advice, nor has the Company made any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares.  You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.

	Other Information	You agree to receive stockholder information, including copies of any annual report, proxy statement and periodic report, from the SEC Filings section in the Investor Relations section of the Company's website at www.ntnbuzztime.com.  You acknowledge that copies of the Plan, Plan prospectus, Plan information and stockholder information are also available upon written or telephonic request to the Company's Plan Administrator.

	Applicable Law	This Agreement will be interpreted and enforced under the laws of the State of Delaware.

 

By signing the cover sheet of this Agreement,
you agree to all of the terms 

and conditions described above and in
the Plan and the Plan's prospectus. 

 

 

 

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