2020 EVENT ACCREDITATION AND ASSIGNMENT OF COPYRIGHT AGREEMENT

AGREEMENT dated ………………………………………. 2020 made between

A. FORMULA ONE WORLD CHAMPIONSHIP LIMITED a company incorporated under the laws of England and Wales with registered number 4174493 whose registered office is at No.2 St James’s Market, London SW1Y 4AH, England (" Licensor"); AND

B. a company incorporated under the laws of with registered number whose principal place of business is at ("Licensee"); AND

C. THE PARTIES REFERRED TO IN THE SCHEDULE (each a "Pass Holder" and collectively as the "Pass Holders")

IT IS AGREED AS FOLLOWS:

1. DEFINITIONS

"Accreditation" means one pass or more to an Event issued to Licensee allowing Pass Holders access to an Event (and certain restricted areas of an Event as determined by Licensor at its discretion) to originate the Work and with such Accreditation (and the Event(s) to which it relates) being authorised by Licensor in writing (including by email) separately to this Agreement;

"Associated Bodies" means the Fédération Internationale de L’Automobile (“FIA”), each Event organiser, Licensor and its affiliates (including, without limitation, Formula One Management Limited, Formula One Marketing Limited and Formula One Hospitality and Event Services Limited), any National Sporting Authorities or Automobile Clubs, the Circuit owners, any other organisation directly connected with an Event, any team, driver or competitor participating in an Event and the directors, members, officers, employees, agents, nominees, assignees, contractors and representatives of any of them; "Circuit" means the motor racing circuit at which an Event is held;

"Events" means (i) each and every round of the 2020 FIA FORMULA ONE WORLD CHAMPIONSHIP including all practice and qualifying sessions, the main races, podium ceremonies and support events in relation thereto; (ii) each Test in relation to the 2020 FIA FORMULA ONE WORLD CHAMPIONSHIP, the 2020 FIA FORMULA 2 CHAMPIONSHIP and the 2020 FIA FORMULA 3 CHAMPIONSHIP; and (iii) each stand-alone round of the 2020 FIA FORMULA 2 CHAMPIONSHIP and/or 2020 FIA FORMULA 3 CHAMPIONSHIP including all practice and qualifying sessions, the main races, podium ceremonies and support events in relation thereto; and " Event" shall refer to any one of them;

"Test" means, in relation to an identified series of motor racing, an official test session at which more than one team participating in that identified series is testing, for the avoidance of doubt excluding any practice and qualifying sessions, main races, podium ceremonies and support events in relation to any series; and

"Work" means any and all visual, audio, audio-visual or any other recording originated by Licensee or its representatives by any means whatsoever (whether now known or developed in the future) in, of or pertaining to an Event.

2. COMMENCEMENT

Notwithstanding the date of its execution, this Agreement shall be deemed operative from the earlier of: (i) execution; and (ii) the first day of the first Event.

3. GRANT OF ACCREDITATION

In consideration of Licensee’s and the Pass Holders’ undertakings in this Agreement, and subject to and conditional upon full and timely performance by Licensee and the Pass Holders of the undertakings and obligations contained in this Agreement, Licensor undertakes to give all such consents as are necessary to grant the Accreditation to Licensee and the Pass Holders.

4. CONDITIONS APPLYING TO LICENSEE AND PASS HOLDERS

Licensee and the Pass Holders hereby agree and acknowledge that the Accreditation shall be issued to and held by them subject to the pass conditions issued before handing over the Accreditation (which can be provided to Licensee prior to an Event if requested) (the "Pass Conditions") and subject to each of the following conditions:

(a) the Work shall not be given, copied, reproduced in any form, loaned, hired or sold by Licensee and/or the Pass Holders to any third party nor shall Licensee and/or the Pass Holders allow access to any third party to the Work for any purpose whatsoever whether free or for reward without the express prior written consent of Licensor;

(b) the Accreditation shall remain at all times the property of Licensor and Licensor reserves the right in its absolute discretion to withdraw the Accreditation at any time without notice to Licensee and/or the Pass Holders in the event of any breach or abuse by Licensee and/or the Pass Holders of the Pass Conditions, this Agreement or for any regulatory or operational reason;

(c) the Accreditation issued by Licensor is non-transferable;

(d) no Pass Holder may hold more than one Accreditation (in the event that more than one Accreditation is issued to a Pass Holder, the Pass Holder shall immediately surrender to Licensor all such additional Accreditation);

(e) immediately upon any breach or abuse by Licensee and/or the Pass Holders of the Pass Conditions or this Agreement and/or upon demand by Licensor, Licensee and the Pass Holders shall immediately cease to possess or use the Work and Licensee shall (at no cost to Licensor) surrender to Licensor any and all copies of the Work (in whole or in part) in existence together with a sworn statement signed by an officer of Licensee certifying that no other copies of the Work (whether in whole or in part) exist;

(f) Licensee and the Pass Holders shall not originate still pictures for commercial non-private use, carry out or cause to be carried out by any means whatsoever any radio interview, radio or other broadcast (whether live or recorded) or file reports or otherwise contribute to any internet, interactive media or other on-line system or mobile wireless device offering from within the Circuit or in relation to an Event unless a separate agreement has been reached with Licensor;

(g) no official timing, results or data relating to an Event may be reproduced, stored in a retrieval system or transmitted in any form or by any electronic, interactive, mechanical, photocopying, recording, broadcasting means or otherwise, except for reproduction by local/national/international press in regular printed publications on sale to the public within 90 days of an Event to which the results/data relates and provided that the copyright symbol appears as follows: “© Formula One World Championship Limited 2020;

(h) neither Licensee nor any of the Pass Holders shall use (or cause or permit to be used) any trade marks of, or marks which are similar, or marks associated from time to time with the FIA FORMULA ONE WORLD CHAMPIONSHIP and individual rounds thereof (including but not limited to F1 FORMULA 1 logos, F1 logos, FIA FORMULA ONE WORLD CHAMPIONSHIP, FORMULA 1 and non-English versions thereof, F1 and GRAND PRIX and related marks) other than in a factually accurate narrative context (and for the avoidance of doubt without any commercial association or purpose whatsoever) without the express written consent of Licensor. Licensee and the Pass Holders acknowledge that they have not and shall not acquire any proprietary rights in such trade marks under this Agreement and that any trade marks of any Associated Body are similarly respected; and

(i) neither Licensee nor any of the Pass Holders shall use (or cause or permit to be used) any of the names and trade marks associated with the FIA FORMULA 2 CHAMPIONSHIP and individual rounds thereof (which at the date of this Agreement include the F2 FIA FORMULA 2 CHAMPIONSHIP logo, FIA FORMULA 2 CHAMPIONSHIP, FIA FORMULA 2, FORMULA  2, F2 and related marks) and/or the FIA FORMULA 3 CHAMPIONSHIP and individual rounds thereof (which at the date of this Agreement includes the F3 FIA FORMULA 3 CHAMPIONSHIP logo, FIA FORMULA 3 CHAMPIONSHIP, FIA FORMULA 3, FORMULA 3, F3 and related marks) and/or such other names and trade marks as Licensor may notify to Licensee from time to time, other than in a factually accurate narrative context (and for the avoidance of doubt without any commercial association or purpose whatsoever) without the express written consent of Licensor. Licensee and the Pass Holders acknowledge that they have not and shall not acquire any proprietary rights in such trade marks under this Agreement and that any trade marks of any Associated Body are similarly respected.

5. UNDERTAKINGS BY LICENSEE

5.1 Licensee undertakes to inform and ensure full compliance by each of the Pass Holders of the provisions of this Agreement and the Pass Conditions and to be accountable directly to Licensor for all activities of the Pass Holders relevant to this Agreement and for any contravention of this Agreement or the Pass Conditions by the Pass Holders at any time.

5.2 Licensee undertakes, at its own cost, to deliver to Licensor the master disc or file of the Work (using new optical disc / solid state disc stock which is clearly labelled with the time and date of recording) in HD1080i50 format on XDCam HD422 disc @ 50Mb/s or on SSD media (or via a secure file transfer service) as XDCam HD422 @ 50Mb/s or AVC-I class 100.MXF files (or in such other manner or such other format as Licensor may specify, or agree to in writing in advance, from time to time) in its entirety within such time following the occurrence of an Event as advised to Licensee by Licensor. Should the Work be captured using personal handheld mobile devices then Licensee should deliver the Work to Licensor at the originating device quality and file format.

5.3 Licensee undertakes that the Work shall only be used or exploited by Licensee to the extent and for the purpose expressly agreed in writing by Licensor (acting in its sole and absolute discretion) and in default of Licensor’s agreement, Licensee shall have no right to use or exploit the Work in any manner in any media (whether now known or hereafter developed).

6. ASSIGNMENT OF COPYRIGHT

6.1 In consideration of the sum of one pound sterling (£1) now paid by Licensor to each of Licensee and the Pass Holders, receipt of which is hereby acknowledged by Licensee and the Pass Holders, each of Licensee and Pass Holders:

(a) with full title guarantee hereby assigns (by way of present and future assignment and to the fullest extent permitted by law) to Licensor all their right, title and interest in the world-wide copyright and any sui generis rights in the Work (and in all still pictures derived or capable of being derived from the Work by any means whatsoever whether now known or hereafter developed) together with exclusive world-wide rights of exploitation thereof subject only to such restrictions as agreed in writing by Licensor in its absolute discretion prior to the date of this Agreement;

(b) agrees to do all such things and execute (and Licensee shall cause any and all of its agents, employees and/or representatives to execute), such other documents as may be reasonably required to assign to, preserve and protect such copyright and exploitation rights for Licensor anywhere in the world; and

(c) to the fullest extent permitted by law, irrevocably and unconditionally waives all rights (including moral rights) in respect of the Work to which the Pass Holders may now or in the future be entitled pursuant to the Copyright, Designs and Patents Act 1988 (as may be re-enacted or amended from time to time) and any current or future equivalent legislation enacted in any part of the world.

6.2 The assignment in Clause 6.1 includes the right for Licensor to take action and claim relief in respect of any of the rights hereby assigned for any infringement of those rights which may have occurred before the date of this Agreement and Licensee and the Pass Holders agree to render to Licensor at Licensor’s expense such assistance as Licensor may reasonably require to enable or assist Licensor to bring any action for infringement of those rights hereby assigned.

6.3 Licensee warrants and undertakes that subject to any existing rights of Licensor and any rights assigned to Licensor under this Agreement, Licensee will be the first owner of all copyright in the Work and no third party has infringed the rights hereby assigned.

6.4 Licensee and each Pass Holder warrants and undertakes that they have not made, assigned, granted or created nor will make, assign, grant or create any licence, charge or encumbrance of any kind in respect of the rights hereby assigned except for the benefit of Licensor and that the exercise of the rights hereby assigned will not infringe any intellectual property rights of any third party.

7. LIMITATION OF LIABILITY

7.1 Licensee and the Pass Holders agree and acknowledge that due to the nature of automobile motor racing there are inherent risks and dangers to persons attending an Event and that certain areas of the Circuit (in particular the restricted areas and the areas near and adjacent thereto) present additional risk to persons present in such areas during an Event and Licensee and each of the Pass Holders voluntarily accept those risks and dangers.

7.2 To the fullest extent permitted by law, Licensee and the Pass Holders hereby: (i) waive any and all rights/claims they may have now or in the future against the Associated Bodies; and (ii) release the Associated Bodies from all liability in respect of any and all claims for any personal injury, death, damage or loss of any kind suffered or sustained by Licensee and/or any of the Pass Holders arising out of the presence of them at an Event or their use of the Accreditation save that nothing in this clause shall limit or exclude (i) liability for death or personal injury arising out of the negligence of any of the Associated Bodies; or (ii) any damage incurred by way of fraud or fraudulent misrepresentation by any of the Associated Bodies.

8. INDEMNITY

8.1 Licensee agrees to indemnify, keep indemnified and hold the Associated Bodies harmless from and against any and all claims by any third party for any personal injury, death, damage or loss of any kind suffered or sustained by that third party as a result of the proven negligence of Licensee and/or any Pass Holder at an Event.

8.2 Licensee and each Pass Holder agrees to indemnify, keep indemnified and hold Licensor harmless from and against any and all claims, actions, proceedings, damages, costs, expenses (including legal fees) and any compensation agreed with any third party arising out of breach and/or non-performance by Licensee or such Pass Holder of any of their or its obligations under this Agreement (as the case may be).

9. GENERAL

9.1 Neither Licensee nor any of the Pass Holders shall be entitled to assign its or their rights and/or transfer its or their obligations under this Agreement without the express prior written consent of Licensor. Licensor shall have the right to assign, license, declare a trust, grant an interest in or otherwise dispose of, or to novate any or all of the rights, benefits or obligations on its part under this Agreement without the consent of Licensee or the Pass Holders. Licensee and the Pass Holders shall from time to

time upon request from Licensor perform (or procure the performance of) all further acts and things and execute and deliver (or procure the execution and delivery of) such further documents as may be required in order to give effect to or perfect any assignment, licence, declaration, disposal or novation by Licensor under this Clause 9.1.

9.2 Each of the provisions contained in this Agreement is distinct and severable and a declaration of invalidity or enforceability of the

whole or part of any such provision shall not affect the validity or enforceability of any other provision to this Agreement.

9.3 Each of Licensee and the Pass Holders acknowledge that it has not been induced to enter into this Agreement by any representation or warranty other than those contained in this Agreement and, having negotiated and freely entered into this Agreement, agrees that it shall have no remedy in respect of any other such representation or warranty, provided that nothing in this clause shall operate to limit or exclude any liability for fraud.

9.4 This Agreement may be executed in counterparts. A counterpart signature page of this Agreement executed by a party and sent by facsimile or transmitted electronically in either Tagged Image Format Files (TIFF) or Portable Document Format (PDF) shall be treated as an original, fully binding and with full legal force and effect, and the parties waive any rights they may have to object to such treatment.

9.5 The Schedule to this Agreement shall form an integral part of this Agreement and shall have effect as if set out in full in the body of this Agreement and any reference to this Agreement includes the Schedule.

9.6 The parties agree that any breach or abuse of this Agreement by Licensee, including without limitation any unauthorised use or exploitation of the Work in whole or in part, may cause Licensor irreparable and unqualified damage, and that Licensor shall in addition to any other remedies provided by law be entitled to either (i) immediate injunctive relief to prevent continued use of the Work by Licensee and/or the Pass Holders at any time after such breach or abuse; and/or (ii) cancel the Accreditation immediately.

9.7 This Agreement and any non-contractual obligations arising out of or in connection with this Agreement are governed by, and shall be interpreted and construed in accordance with, the laws of England and be subject to the exclusive jurisdiction of the English Courts.

IN WITNESS WHEREOF this Agreement has been executed on the date first above written.

SIGNED by Formula One World Championship Limited acting by a director in the presence of:

)))

…………………………………………Director

Witness Signature: ………………………………...……..…………

Name: ………………………………...……..…………

Address ………………………………...……..…………

Date: ………………………………...……..…………

SIGNED by acting by a director in the presence of: )))

…………………………………………Director

Witness Signature: ………………………………...……..…………

Name: ………………………………...……..…………

Address ………………………………...……..…………

Date: ………………………………...……..…………

SCHEDULE TO THE 2020 EVENT ACCREDITATION AND ASSIGNMENT OF COPYRIGHT AGREEMENT

We have read and fully understand the provisions of this Agreement and agree to abide by them in all respects.

FULL NAME OF PASS HOLDER ADDRESS (EITHER HOME OR WORK) SIGNATURE