SEC Contract Filing

Filing Date: 2021-01-27

Document Content:
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<TYPE>EX-10.3
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<FILENAME>ex10-3.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in"><B>Exhibit 10.3</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[***]
Certain information in this document has been excluded pursuant to Regulation S-K, Item (601)(b)(10). Such excluded information
is not material and would likely cause competitive harm to the registrant if publicly disclosed.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LICENSE
AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
LICENSE AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;) is entered into effective as of January 25, 2021 (the &ldquo;<U>Effective
Date</U>&rdquo;), by and between:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
AUTOMOBILE CLUB DE L&rsquo;OUEST, a company registered in France with company number W 723 000 156 and whose registered office
is at Circuit des 24 Heures, CS 21928, 72 019 Le Mans Cedex 2, France (&ldquo;<U>Licensor</U>&rdquo;), and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
LE MANS ESPORTS SERIES LIMITED, a company registered in England with company number: 11862316 and whose registered office is at
3rd Floor 1 Ashley Road, Altrincham, Cheshire, United Kingdom, WA14 2DT (&ldquo;<U>Licensee</U>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Licensor
and Licensee are hereinafter referred to collectively as the &ldquo;<U>Parties</U>&rdquo; or individually as a &ldquo;<U>Party</U>.&rdquo;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS:</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.
Licensor has the exclusive right to exploit, license and sub-license the Licensed IP during the Term (as defined below);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
Licensee was formed for the purpose of promoting and running an Esports events business replicating races of the FIA World Endurance
Championship and the 24 Hours of Le Mans on an electronic gaming platform, including without limitation the 24 Hours of Le Mans
Virtual brand and for the development and publishing of video games based on the FIA World Endurance Championship and 24 Hours
of Le Mans; and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.
Licensor desires to grant to Licensee the rights to develop certain Events using and/or bearing, subject to the terms and conditions
set