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Technical Accounting/Non-Standard MSLA Memo

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Exhibit 10.20

CERTAIN CONFIDENTIAL INFORMATION, MARKED BY [***], HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE (I) IT IS NOT MATERIAL AND (II) THE REGISTRANT CUSTOMARILY AND ACTUALLY TREATS THE INFORMATION AS PRIVATE AND CONFIDENTIAL.

MASTER SERVICES AND LICENSE AGREEMENT

THIS MASTER SERVICES AND LICENSE AGREEMENT (the "Agreement") is entered into between Customer, a Delaware corporation, whose principal address is San Francisco, CA ("Client"), and Company, a Delaware corporation, whose principal address is San Francisco, CA ("Company" and together with Client, each a "Party" and together the "Parties").

MASTER SERVICES AND LICENSE AGREEMENT

Background

A. Company is in the business of providing Entertainment Services, each as further described herein; and

B. Client wishes to engage Company to provide such Services on the terms and conditions set forth in this Agreement.

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties agree as follows:

Agreement. This Agreement consists of this cover page and the following: a. Schedule A - Program Terms b. Schedule B - General Terms and Conditions c. Schedule C - Definitions d. Schedule D - IP License Fees e. Schedule E - Advertising Services f. Schedule F - Company Characters g. Schedule G - Client Products

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the last date signed below (the "Effective Date"):

Your Documents

Business Combinations Goodwill Intangibles

Q4 2025

Contract Costs

Q4 2025

Credit Losses

Q4 2025

Income Statement Expense Disaggregation

Q4 2025

Leases

Q4 2025

Contract Review Terms

Contract Composition and Entire Agreement

Character License Scope

Implementation, Processing and Program Services

Implementation Plan

Event Tickets

Decision Tree & Memo

Primary Scope Assessment

Control

Has the Acquiror acquired control of another entity or set of assets?

Control

Has the Acquiror acquired control of another entity or set of assets?

Transaction Type

Do any of the following apply for BuyerCo–SellerCo Asset Acquisition?

The transaction is a formation of a joint venture.
The transaction is between entities under common control?
The Acquiree is a not-for-profit entity with special circumstances?
The transaction is solely the acquisition of financial assets/liabilities of a collateralized financing entity (CFE)?

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Technical accounting,reimagined.

Technical accounting,
reimagined.