SEC Contract Filing

Filing Date: 2022-09-23

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>6
<FILENAME>ea166181ex10-3_mobileglob.htm
<DESCRIPTION>ENGAGEMENT AGREEMENT DATED SEPTEMBER 20, 2022 BETWEEN THE REGISTRANT AND WESTPARK CAPITAL, INC
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3</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-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;<IMG SRC="ex10-3_001.jpg" ALT=""></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-top: 0pt; margin-bottom: 0pt; text-align: center">PLACEMENT AGENT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PRIVATE INVESTMENT IN PUBLIC EQUITY</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 20, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dave Pross</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mobile Global Esports, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">616 South El Camino Real, Suite H</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">San Clemente, CA 92672</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Pross:</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The purpose of this Placement Agent Agreement (the
&ldquo;Agreement&rdquo;) is to set forth the terms and conditions pursuant to which WestPark Capital, Inc. (&ldquo;WPC&rdquo; or &ldquo;WestPark&rdquo;)
will act as Placement Agent with respect to a Private Investment in Public Equity (&ldquo;PIPE&rdquo;) for Mobile Global Esports, Inc.,
and its related and affiliated entities (the &ldquo;Company&rdquo;) of up to $6 million of the Company&rsquo;s common stock of other securities
(the &ldquo;Offering&rdquo;). The terms of such Offering shall be mutually agreed upon by the Company and the investor(s). WPC&rsquo;s
engagement under this Agreement shall be exclusive for a period 30 days after the date hereof. The identities of the investors to which
WPC introduces the Company shall be proprietary information of WPC and shall not be divulged to third parties by the Company, nor used
by the Company outside the scope of WPC&rsquo;s engagement as described herein, other than as required by applicable law.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In consideration of the services rendered by WestPark
under this Agreement, the Company agrees to pay WestPark the following fees and other compensation:</P>

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

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<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">A cash fee payable immediately upon the closing of any portion of the Offering equal to 9% of the aggregate capital raised.</TD></TR></TABLE>

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

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<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">WestPark will be reimbursed by the Company $75,000 for legal expenses, to be paid out of the closing of the Offering.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 54.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">The Company shall issue to WestPark or its designees at the Closing, warrants (the &ldquo;<B>Placement Agent&rsquo;s Warrants</B>&rdquo;)
to purchase 9% of the aggregate number of securities sold in the Offering. The Placement Agent&rsquo;s Warrants will be exercisable at
any time and from time to time, in whole or in part, during the five-year period commencing from the closing of the Offering, at an exercise
price per share equal to 110% of the price paid for securities by investors in the Offering. The Placement Agent&rsquo;s Warrants will
provide for registration rights (including a one-time demand registration right and unlimited piggyback rights) and customary anti-dilution
provisions, and will have a cashless exercise provision.</TD></TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company hereby grants WestPark the right of
first refusal on all public and private financings, as well as