Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Chief
People Officer Appointment
On
August 26, 2022, the Board of Directors (the “Board”) of Esports Entertainment Group, Inc. (the “Company”) approved
the appointment of Ms. Jennifer Pace as the Chief People Officer (the “CPO”) of the Company, effective September
1, 2022 (the “Pace Appointment”). Ms. Pace was promoted from her position as senior vice president of human resources and
administration of the Company.
Jennifer
Pace, 59, CPO
Jennifer
Pace combines over 2.5 years of experience in iGaming/gaming senior management following a 22-year career in the financial services sector.
Ms. Pace has served as senior vice president of human resources and administration of the Company since September 2021. Ms. Pace was
the Vice President of Payments and People Operations of the Company from April 2020 to September 2021 and the Head of Payments of the
Company from January to April 2020. She was also the company secretary for Western Union Business Solutions from February to December
2018 and for Western Union Malta Holdings Limited and Western Union Malta Ltd from December 2017 to December 2018. From November 2014
to December 2018, she was a director of Western Union Business Solutions, Western Union Malta Holdings Limited and Western Union Malta
Ltd. From 2011 through 2018, Ms. Pace was the country manager for Western Union Business Solutions, a financial services and B2B payments
company. From 2009 to 2011, she was country manager Malta/Cyprus & Lebanon for Travelex Financial Services Ltd, a company involved
in financial services and B2B Payments. From 1992 to 2000, she was a business development manager and FX Trader of Thomas Cook Financial
Services Ltd, a financial services B2B and B2C company that focused on foreign exchange. Ms. Pace is also currently a director of Esports
Entertainment (Malta) Ltd, Prozone Ltd, BHGES PLC., all iGaming licensed companies. Ms. Pace holds a level 3 CISI Finance and Financial
Management Services qualification, Level 3 and an MQF Level 7 (MA equivalent) in Advanced Employment Law.
The
Board believes that Ms. Pace’s experience in human resources and administration makes her ideally qualified to help lead the Company
towards continued growth and success.
On
December 17, 2018, the Company and Ms. Pace entered
into an employment agreement (the “Pace Agreement”), pursuant to which she was appointed as Head of Payments of the Company.
Pursuant to the Pace Agreement, Ms. Pace received an annual salary of $84,000. On September 1, 2021, the Company and Ms.
Pace entered into an addendum to the Pace Agreement, appointing Ms. Pace as SVP of HR and Administration. On March 1, 2022, the Company
and Ms. Pace entered into an addendum to the Pace Agreement, increasing Ms. Pace’s annual salary to €150,000. On August 25,
2022, in connection with the Pace Appointment, the Company and Ms. Pace entered into an addendum to the Pace Agreement, to memorialize
Ms. Pace’s appointment as CPO of the Company, effective September 1, 2022.
Director
Appointment
On
August 26, 2022, the Board approved the appointment of Mr. John Brackens, Chief Information Officer and Chief Technology Officer of the
Company, as a member of the Board, effective September 1, 2022 (the “Brackens Appointment”).
John
Brackens, 42, Director
Mr.
Brackens combines over 12 years of experience in information technology senior management. Previously, he had been involved in five organizations
within the game industry holding positions including Chief Operating Officer, Treasurer, Foreign Director, and Network Operations Manager.
Mr. Brackens was appointed Chief Information Officer of the Company on May 15, 2019, and Chief Technology Officer of the Company on September
26, 2019. From 2018 through January 2019, Mr. Brackens was the Operations Director for Carte Blanche Entertainment, Inc., an iGaming
company. From 2016 to 2017, he was Chief Operating Officer for Sparkjumpers Pte Ltd., a company involved in video game development and
eSports tournament events. From January 2014 to January 2016, he was Manager of Network Operations of Activision Blizzard - Demonware
an entertainment company that focused on AAA game development. Mr. Brackens studied Electrical Engineering at Arizona State University.
The
Board believes that Mr. Brackens’ experience in information technology makes him ideally qualified to help lead the Company towards
continued growth and success as the Company.
Family
Relationships
Mr.
Brackens does not have a family relationship with any of the current officers or directors of the Company.
Related
Party Transactions
There
are no related party transactions with regard to Mr. Brackens reportable under Item 404(a) of Regulation S-K.
Compensatory
Arrangements
In
connection with his Appointment, Mr. Brackens entered into a director agreement with the Company (the “Brackens Agreement”).
Item
5.02 of this Current Report on Form 8-K contains only a brief description of the material terms of and does not purport to be a complete
description of the rights and obligations of the parties to the Pace Agreement and the Brackens Agreement, and such description is qualified
in its entirety by reference to the full text of the Pace Agreement and the Brackens Agreement, copies of which are filed herewith as
Exhibit 10.1 and 10.2.
Item
9.01. Exhibits.
(d)
Exhibits