SEC Contract Filing

Filing Date: 2021-04-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10-3.htm
<DESCRIPTION>EXCHANGE AGREEMENT
<TEXT>
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<P STYLE="margin: 0; text-align: left"><A HREF="mkgi-8k_040721.htm">Monaker Group, Inc. 8-K</A></P>

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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXCHANGE AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Exchange Agreement
(this &ldquo;<B><U>Agreement</U></B>&rdquo;) dated April 8, 2021 (the &ldquo;<B><U>Effective Date</U></B>&rdquo;), is by and between,
Monaker Group, Inc., a Nevada corporation (the &ldquo;<B><U>Company</U></B>&rdquo;), and Mr. William Kerby (&ldquo;<B><U>Kerb</U></B>y&rdquo;)
and Monaco Investment Partners II, LP (&ldquo;<B><U>Monaco</U></B>&rdquo;) (Kerby and Monaco are collectively referred to herein
as the &ldquo;<B><U>Accrued Dividend Holders</U></B>&rdquo;), each a &ldquo;<B><U>Party</U></B>&rdquo; and collectively the &ldquo;<B><U>Parties.</U></B>&rdquo;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center; text-indent: -27pt"><B><U>W</U>&nbsp;<U>I</U>&nbsp;<U>T</U>&nbsp;<U>N</U>&nbsp;<U>E</U>&nbsp;<U>S</U>&nbsp;<U>S</U>&nbsp;<U>E</U>&nbsp;<U>T</U>&nbsp;<U>H</U>:</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, dividends
in arrears on the previously outstanding shares of Series A Preferred Stock shares of the Company total $1,016,314 as of the Effective
Date (the &ldquo;<B><U>Accrued Dividends</U></B>&rdquo;);</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, notwithstanding
the prior conversion of all shares of Series A Preferred Stock into common stock of the Company, such Accrued Dividends remained
outstanding and are only payable when and if declared by the Board of Directors;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Accrued Dividends are owed to Accrued Dividend Holders, each former holders of the Company&rsquo;s Series A Preferred Stock; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Company desires to exchange, and the Board of Directors of the Company have approved the exchange of, the Accrued Dividends for
Convertible Promissory Notes (the &ldquo;<B><U>Exchange</U></B>&rdquo;); and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHREAS</B>, the
Company and the Accrued Dividend Holders desire to set forth in writing herein the terms and conditions of their agreement and
understanding concerning the Exchange.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the premises and the mutual covenants, agreements, and considerations herein contained, the receipt and sufficiency
of which is hereby acknowledged by the Parties, the Parties hereto agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exchange</U>.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Accrued Dividend Holders and the Company, pursuant their entry into this Agreement, hereby exchange the full amount
of the Accrued Dividends (held 57.6/42.4 by Monaco and Kerby, respectively) for Convertible Promissory Notes in the form of <B><U>Exhibit
A</U></B> hereto, in the aggregate principal amount of $1,016,314 ($585,425 for Monaco and $430,889 for Kerby)(the &ldquo;<B><U>Convertible
Notes</U></B>&rdquo;).</P>

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