SEC Contract Filing

Filing Date: 2022-04-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>ea158020ex10-2_nextplay.htm
<DESCRIPTION>RESTRICTIVE COVENANT AGREEMENT, BY AND BETWEEN NEXTPLAY TECHNOLOGIES, INC. AND DAVID NG
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.2</P>

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

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

<P STYLE="font: bold 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: justify; text-indent: 0.5in">THIS RESTRICTIVE COVENANT
AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;) is made and entered into as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022, by and between NextPlay Technologies, Inc.
(fka Monaker Group, Inc.), a Nevada corporation (the &ldquo;<U>Company</U>&rdquo;) and David Ng (the &ldquo;<U>Seller Owner</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">WHEREAS, the Company, Seller
Owner and Go Game Pte Ltd, a Singapore private limited company (the &ldquo;<U>Seller</U>&rdquo;) are concurrently with this Agreement
entering into an Asset Purchase Agreement (the &ldquo;<U>Purchase Agreement</U>&rdquo;) pursuant to which the Company is acquiring certain
assets of the Seller. The Company and the Seller Owner are sometimes collectively referred to herein as the &ldquo;<U>Parties</U>&rdquo;
and individually as a &ldquo;<U>Party</U>.&rdquo; Capitalized terms used and not otherwise defined herein have the meanings set forth
in the Purchase Agreement. Included in the Purchased Assets is the &ldquo;Go Play Platform&rdquo; which is a unified platform that integrates
free-to-play games, an eCommerce store for games, and video content about games, and offers tournaments, competition and real world rewards
for users, among other features (the &ldquo;<U>Go Play Business</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">WHEREAS, in executing the
Purchase Agreement and agreeing to pay the Purchase Price for the Purchased Assets, the Company considered the Company&rsquo;s substantial
goodwill to be a valuable asset during the Restricted Period (as defined below) and an essential inducement to the execution of the Purchase
Agreement and the consummation of the transactions contemplated thereby, and the Company would not have entered into the Purchase Agreement
without commitments by the Seller Owner to the terms of this Agreement, and entry into this Agreement is in fact a condition precedent
to the effectiveness of the Purchase 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">WHEREAS, the Seller Owner
acknowledges and agrees that he could substantially dilute the value of the goodwill that the Company is acquiring in this transaction
by competing with the Go Play Business (as defined below) in breach of the terms of this Agreement during the Restricted Period;</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">WHEREAS, the Company and Seller
Owner desire to enter into this Agreement in order to (i) provide for certain obligations on the part of the Seller Owner to refrain from
competing with the Company as described below, and soliciting the Company&rsquo;s employees at the time of the Closing and for a period
of time thereafter as provided herein and (ii) protect the Company&rsquo;s legitimate business interests and goodwill;</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">WHEREAS, (i) upon the consummation
of the Closing, the Seller Owner, as beneficial owners and control persons of the Seller, will receive an immediate and direct benefit,
including receipt of a portion of the Purchase Price paid in the Closing and (iii) the Seller Owner has detailed knowledge of the Go Play
Business acquired by the Company, including intellectual property and other confidential and proprietary information and has gained substantial
knowledge and expertise in connection with the Go Play Business;</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">WHEREAS, as a condition and
inducement to the willingness of the Company and Seller Owner to consummate the Closing and the other transactions contemplated by the
Purchase Agreement, the Seller Owner is willing to enter into this Agreement; and</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">WHEREAS, the Seller Owner
acknowledges and agrees that the Seller Owner wil