SEC Contract Filing

Filing Date: 2021-10-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>ea149232ex10-2_briley.htm
<DESCRIPTION>SPONSOR SUPPORT AGREEMENT, DATED AS OF OCTOBER 24, 2021, BY AND AMONG B. RILEY PRINCIPAL 150 SPONSOR CO., LLC, B. RILEY PRINCIPAL 150 MERGER CORP., AND FAZE CLAN INC
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This SPONSOR SUPPORT AGREEMENT
(this &ldquo;<U>Sponsor Support Agreement</U>&rdquo;), dated as of October 24, 2021, is entered into by and between B. Riley Principal
150 Sponsor Co., LLC, a Delaware limited liability company (&ldquo;<U>Sponsor</U>&rdquo;), B. Riley Principal 150 Merger Corp., a Delaware
corporation (&ldquo;<U>Acquiror</U>&rdquo;), and FaZe Clan Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>W I
T N E S S E T H:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, concurrently
with the execution of this Sponsor Support Agreement, Acquiror, the Company, and BRPM Merger Sub, Inc., a Delaware corporation and direct
wholly owned subsidiary of Acquiror (&ldquo;<U>Merger Sub</U>&rdquo;), will enter into that certain Agreement and Plan of Merger, dated
as of the date hereof (the &ldquo;<U>Merger Agreement</U>&rdquo;), pursuant to which Merger Sub will merge with and into the Company with
the Company surviving as a wholly owned subsidiary of Acquiror (the &ldquo;<U>Merger</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Sponsor owns
(i) an aggregate of 4,312,500 shares of Acquiror&rsquo;s Class B common stock, par value $0.0001 per share (the &ldquo;<U>Acquiror Class
B Stock</U>&rdquo;), (ii) an aggregate of 520,000 private placement units of Acquiror (&ldquo;<U>Acquiror Private Units</U>&rdquo;) consisting
of (x) 520,000 shares of Acquiror&rsquo;s Class A common stock, par value $0.0001 per share (&ldquo;<U>Acquiror Class A Stock</U>&rdquo;),
and (y) an aggregate of 173,333 redeemable warrants of Acquiror exercisable for an aggregate of 173,333 shares of Acquiror Class A Stock
at an initial exercise price of $11.50 per share (&ldquo;<U>Acquiror Private Warrants</U>&rdquo;, and the Acquiror Class B Stock, Acquiror
Class A Stock (including the Acquiror Class A Stock underlying the Acquiror Private Warrants), Acquiror Private Warrants, and any other
equity securities of Acquiror that Sponsor acquires record or beneficial ownership of after the date hereof until the earlier of the Closing
Date or the termination of this Sponsor Support Agreement, collectively, the &ldquo;<U>Subject Acquiror Equity Securities</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, concurrently
with the execution of this Sponsor Support Agreement, Acquiror has entered into subscription agreements with investors for the private
placement of an aggregate of $118,000,000 of Acquiror Class A Stock (the &ldquo;<U>PIPE Investment</U>&rdquo;), with the closing of the
PIPE Investment contingent upon the closing of the Merger;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Sponsor has
agreed to invest at least $20 million in the PIPE Investment as well as to backstop the PIPE Investment by committing to purchase any
portion of the PIPE Investment, up to $100,000,000, not purchased by other third party investors (the &ldquo;<U>Third Party PIPE Investors</U>&rdquo;)
through the execution of a binding subscription agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, pursuant to
Section 4.3(b) of the Amended and Restated Certificate of Incorporation of the Acquiror, dated February 18, 2021, as corrected on May
20, 2021 (the &ldquo;<U>Acquiror Charter</U>&rdquo;), the written consent or agreement of holders of a majority of the Acquiror Class
B Stock outstanding is required to waive the anti-dilution and conversion rights set forth in Section 4.3(b) of the Acquiror Charter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Sponsor is
the sole owner of the outstanding shares of the Acquiror Class B Stock and, in connection with the Merger and the PIPE Investment, Sponsor
has agreed to waive t