IP Security Agreement


 


Grant
of Security Interest Agreement


in
United States Patents and Trademarks


 


 


FOR GOOD AND VALUABLE CONSIDERATION,
the receipt and sufficiency of which are hereby acknowledged, CleanSpark, Inc., a Nevada corporation (“Grantor”),
having its place of business at 70 North Main Street, Suite 105, Bountiful, UT 84010, hereby grants to _________________________
(“Grantee”), having its place of business at _________________________, a security interest in all of the Grantor’s
right, title and interest in, to and under the following (all of the following items or types of property being herein collectively
referred to as the “Patent and Trademark Collateral”), whether presently existing or hereafter arising or acquired:


(i) each United States patent and patent
application, including each patent and patent application referred to on Schedule A hereto;


(ii) each United States trademark, trademark
registration and trademark application, and all of the goodwill of the business connected with the use of, and symbolized by, each
trademark, trademark registration and trademark application, including each trademark, trademark registration and trademark application
referred to in Schedule B hereto;


(iii) all products and proceeds of the
foregoing, including any claim by the Grantor against third parties for past, present or future infringement of any Patent, or
past, present or future infringement or dilution of any trademark or trademark registration, including any patent or trademark
listed on Schedule A or Schedule B hereto, or for injury to the goodwill associated with any trademark or trademark
registration.


THIS GRANT is granted pursuant to the
security interests granted to the Grantee in the Purchase Agreement between the Grantor and the Grantee dated April 17, 2019,
as amended, modified or supplemented from time to time (the “Purchase Agreement”).


THIS GRANT has been granted in conjunction with
the security interest granted to the Grantee under the Purchase Agreement. The rights and remedies of the Grantee with respect
to the security interest granted herein are without prejudice to, and are in addition to those set forth in the Purchase Agreement,
all terms and provisions of which are incorporated herein by reference as though set forth in full herein. In the event that any
provisions of this Grant of Security Interest Agreement are deemed to conflict with the Purchase Agreement, the provisions of the
Purchase Agreement shall govern.


 


THIS GRANT shall terminate and be of no force
and effect immediately upon the complete fulfilment of all of the Obligations (as defined under the Purchase Agreement.


 




    	 		 



    	 



    

 


IN WITNESS WHEREOF, the undersigned have
executed this Grant of Security Interest Agreement as of the date first above stated.


 


Grantor:


 


CLEANSPARK,
INC.


 


 


By: _______________________


Name:  _____________________


Title:  ______________________



 


 


Grantee:





 


______________________________


 


 





By: _______________________


Name:  _____________________


Title:  ______________________










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Schedule A: Patents and Patent Applications


 





	Docket Number	Title or Description	Serial Number	Filing Date	Pat./Reg. Number	Issue Date	
        Exp. Date

         

         

         

	3498-2-1	Parallel Path, Downdraft Gasifier Apparatus and Method	12/170,421	7/9/2008	8,105,401	1/31/2012	7/9/2028*
	3498-2-1-2	Parallel Path, Downdraft Gasifier Apparatus and Method	13/360,900	1/30/2012	8,518,133	8/27/2013	7/9/2028*
	3498-2-1-3	Gasification Method Using Feedstock Comprising Gaseous Fuel	14/010,422	8/26/2013	9,359,567	6/7/2016	7/9/2028*
	3498-2-1-4	Parallel Path, Downdraft Gasifier Apparatus and Method	15/173,964	6/6/2016	9,890,340	2/13/2018	7/9/2028*
	3498-2-2	Electrolytic Reactor and Related Methods for Supplementing the Air Intake of an Internal Combustion Engine	12/476,385	6/2/2009	8,347,829	1/8/2013	6/2/2029*
	3627-2-1-1	
        Establishing Communication and Power Sharing Links
        Between

        Components of a Distributed Energy System
	14/885,627	10/16/2015	9,941,696	4/10/2018	3/23/2035*
	3627-2-1-2	
        Establishing Communication and Power Sharing Links
        Between

        Components of a Distributed Energy System
	15/944,478	4/3/2018	 	 	 




    






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Schedule B: Trademarks


 


	Docket
    Number	Title
    or Description	Serial
    Number	Filing
    Date	Pat./Reg.
    Number	Issue
    Date	Exp.
    Date
	3627-3-1	CLEANSPARK Trademark	86/588,049	4/6/2015	5,286,710	9/12/2017	N/A


 






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