Option Grant Notice between Sports Ventures Acquisition Corp. and Joseph D. Ragan III, dated January 3, 2022
Sports Ventures Acquisition Corp. has agreed to grant Joseph D. Ragan III an option to purchase 25,000 shares of the company’s Class A Ordinary Shares as compensation for his service as a director. The option will be awarded under the company’s Employee Stock Plan after the company completes its combination with Prime Focus World, N.V. This notice confirms the terms of the grant and is signed by the Chairman of the Board.
Exhibit 10.12
Option Grant Notice
January 3, 2022
Mr. Joseph Ragan
107 Shore Oaks
Austin, Texas 78738
Dear Joe,
This letter is to confirm the previous agreement of Sports Ventures Acquisition Corp. (the “Company”), to grant you an option to purchase 25,000 shares of the Company’s Class A Ordinary Shares in consideration of your service as a director. This option is intended to be awarded to you as Ordinary Shares of the Company under its Employee Stock Plan promptly following the completion of the Company’s combination with Prime Focus World, N.V.
| Sincerely, | ||
| Sports Ventures Acquisition Corp. | ||
| By: | /s/ Alan Kestenbaum | |
| Alan Kestenbaum, | ||
| Chairman of the Board of Directors | ||
