SEC Contract Filing

Filing Date: 2020-06-30

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ea123684ex10-1_leisure.htm
<DESCRIPTION>AMENDMENT DATED JUNE 29, 2020 TO THE INVESTMENT MANAGEMENT TRUST AGREEMENT, DATED DECEMBER 1, 2017 AND AS AMENDED ON DECEMBER 5, 2019 AND MARCH 26, 2020, BY AND BETWEEN THE COMPANY AND THE CONTINENTAL STOCK TRANSFER & TRUST COMPANY
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Execution Version</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT NO. 3<BR>
TO THE<BR>
INVESTMENT MANAGEMENT TRUST AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Amendment No.
3 (this &ldquo;<B><I>Amendment</I></B>&rdquo;) to the Investment Management Trust Agreement is made as of June 29, 2020 by and
between Leisure Acquisition Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and Continental Stock Transfer
&amp; Trust Company, a New York corporation (the &ldquo;<B><I>Trustee</I></B>&rdquo;). All terms used but not defined herein shall
have the meanings assigned to them in the Trust Agreement.</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">WHEREAS, the Company
and the Trustee entered into the Investment Management Trust Agreement (&ldquo;<B><I>Trust Agreement</I></B>&rdquo;) effective
as of December 1, 2017 and as amended on December 5, 2019 and March 26, 2020;</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, Section 1(i)
of the Trust Agreement sets forth the terms that govern the liquidation of the Trust Account under the circumstances described
therein;</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, at a special
meeting of stockholders of the Company (the &ldquo;<B><I>Special Meeting</I></B>&rdquo;) held on June 26, 2020, holders of at least
65% of the Company&rsquo;s outstanding shares approved, among other items, (i) a proposal to amend (the &ldquo;<B><I>Extension
Amendment</I></B>&rdquo;) the Company&rsquo;s second amended and restated certificate of incorporation, as amended, to extend the
date by which the Company shall be required to effect a Business Combination to December 1, 2020, or such earlier date determined
by the Board (the &ldquo;<B><I>Extended Date</I></B>&rdquo;) and (ii) a proposal to extend the date on which the Trustee must commence
liquidating the Trust Account (the &ldquo;<B><I>Trust Amendment</I></B>&rdquo;) in the event the Company has not consummated a
Business Combination by the Extended Date; 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, on the date
hereof, the Company is filing the Extension Amendment with the Secretary of State of the State of Delaware;</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">NOW THEREFORE, in consideration
of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:</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">1. Section 1(i) of
the Trust Agreement is hereby amended and restated in its entirety as follows:</P>

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

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 <TD STYLE="width: 12%">&nbsp;</TD>
 <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
 <TD STYLE="width: 84%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the Company (&ldquo;<B><I>Termination Letter</I></B>&rdquo;) in a form substantially similar to that attached hereto as either&nbsp;<U>Exhibit A&nbsp;</U>or&nbsp;<U>Exhibit B</U>&nbsp;signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer or Chairman of the board of directors (the &ldquo;<B><I>Board</I></B>&rdquo;) or other authorized officer of the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $75,000 of interest that may be released to the C