ASSIGNMENT AND ASSUMPTION OF
LEASE — 5901 DE SOTO AVENUE
This ASSIGNMENT AND ASSUMPTON OF LEASE
— 5901 DE SOTO AVENUE (this “Agreement”) is
made and entered into as of December 15, 2008 (the
“Effective Date”), by and between YOUBET SERVICES
CORPORATION (“YB Services”) , with its principal
place of business at 5901 De Soto Avenue, Woodland Hills,
California, 91367, and YOUBET.COM, INC.
(“Youbet”) , a Delaware corporation with its
principal place of business located at 2600 West Olive Avenue,
5 th
Floor, Burbank, CA 91505.
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A.
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Youbet is a diversified provider of
technology and pari-mutuel horse racing content for consumers
through Internet and telephone platforms.
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B.
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Youbet leases the premises commonly
known as 5901 De Soto Avenue, Woodland Hills, California, 91367,
pursuant to a lease dated March 11, 2000 (“Lease”)
with 5901 Associates LLC (“Landlord”). The Lease is
attached hereto as Exhibit A .
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C.
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YB
Services provides various corporate services to Youbet, including
financial and accounting, payroll, marketing, customer relations,
software development and engineering, and administrative
(“Corporate Services”). YB Services will provide
Corporate Services to Youbet utilizing the Premises.
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D.
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The
parties desire to enter into an agreement whereby Youbet will
assign, and YB Services will assume, the obligations under the
Lease.
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Now, therefore, in consideration of the premises
and mutual covenants hereinafter set for
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