Exhibit 10.1


 


AMENDED AND RESTATED EXECUTIVE EMPLOYMENT
AGREEMENT


 


This AMENDED AND
RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (the "Agreement") dated October 7, 2015 and effective October 1, 2015 (the
“Effective Date”), is by and between MGT Capital Investments, Inc., a company incorporated under the laws of
Delaware (the "Company"), and Robert B. Ladd, an individual (the "Executive") with reference to the
following facts:


 


Executive currently serves as
the President and Chief Executive Officer of the Company pursuant to an employment agreement entered into on November 19, 2012
and amended January 28, 2014 (the “Original Agreement”); and


 


The parties wish to amend and
restate the Original Agreement in its entirety as set forth herein.


 


NOW THEREFORE, in consideration
of the foregoing facts and mutual agreements set forth below, the parties, intending to be legally bound, agree as follows:


 


1.             Employment.
The Company hereby agrees to employ Executive, and Executive hereby accepts such employment and agrees to perform Executive's duties
and responsibilities in accordance with the terms and conditions hereinafter set forth.


 


1.1           Duties
and Responsibilities. Executive shall serve as Chief Executive Officer and President. During the Employment Term, Executive
shall perform all duties and accept all responsibilities incident to such positions and other appropriate duties as may be assigned
to Executive by the Company's Board of Directors from time to time. Executive shall also serve as a director of the Company, and
as an officer of one or more of the Company's subsidiaries without any additional compensation. The Company shall retain full direction
and control of the manner, means and methods by which Executive performs the services for which he is employed hereunder and of
the place or places at which such services shall be rendered.


 


1.2           Employment
Term. The term of Executive's employment shall commence on the Effective Date and shall continue until November 30, 2016, unless
earlier terminated in accordance with Section 4 hereof. The term of Executive's employment shall be automatically renewed for successive
one (1) year periods until the Executive or the Company delivers to the other party a written notice of their intent not to renew
the "Employment Term," such written notice to be delivered at least sixty (60) days prior to the expiration of the then-effective
"Employment Term" as that term is defined below. The period commencing as of the Effective Date and ending November 30,
2016 or such later date to which the term of Executive's employment under the Agreement shall have been extended is referred to
herein as the "Employment Term" and the end of the Employment Term is referred to herein as the “Expiration Date.”


 


1.3           Extent
of Service. During the Employment Term, Executive agrees to use Executive's best efforts to carry out the duties and responsibilities
under Section 1.1 hereof and to devote all requisite Executive's business time, attention and energy thereto. Executive further
agrees not to work either on a part-time or independent contracting basis for any other business or enterprise during the Employment
Term without the prior written consent of the Company's Board of Directors, which consent shall not be unreasonably withheld.


  


1.4           Base
Salary and Compensation


 


(a)           Upon
the execution hereof and in consideration of the execution hereof, the Executive will receive 200,000 newly issued and unregistered
shares of the Company’s Common Stock.


 


(b)           The
Company shall pay Executive a base salary (the "Base Salary") at the annual rate of $199,500 (U.S.) payable at such times
as the Company customarily pays its other senior level executives (but in any event no less often than monthly). The Base Salary
shall be subject to all state, federal, and local payroll tax withholding and any other withholdings required by law. The Executive’s
Base Salary may be increased by the Compensation Committee of the Board of Directors (the “Compensation Committee”).
Once increased, such increased amount shall constitute the Executive’s Base Salary.


 




     


     


    

  


1.5           Incentive
Compensation.


 


(a)           Bonus.
Executive shall be eligible to earn a cash and/or equity bonus as the Compensation Committee may determine, from time to time,
based on meeting performance objectives and bonus criteria to be mutually identified by Executive and the Compensation Committee.
Such objectives and criteria may be based on a favorable sale or merger of the Company, in additional to operating metrics. Bonuses,
if any, shall be subject to all applicable tax and payroll withholdings.


 


(b)           Executive
Benefits. The Executive shall be entitled to participate in all executive benefit or incentive compensation plans now maintained
or hereafter established by the Company for the purpose of providing compensation and/or benefits to executives of the Company
and any supplemental retirement, salary continuation, stock option, deferred compensation, supplemental medical or life insurance
or other bonus or incentive compensation plans. Unless otherwise provided herein, the Executive’s participation in such plans
shall be on the same basis and terms as other executives of the Company. No additional compensation provided under any of such
plans shall be deemed to modify or otherwise affect the terms of this Agreement or any of the Executive’s entitlements hereunder.


 


1.6           Other
Benefits. During the Employment Term, Executive shall be entitled to participate in all employee benefit plans and programs
made available to the Company's senior level executives as a group or to its employees generally, as such plans or programs may
be in effect from time to time (the "Benefit Coverages"), including, without limitation, medical, dental, hospitalization,
short-term and long-term disability and life insurance plans, accidental death and dismemberment protection and travel accident
insurance. Executive shall be provided office space and staff assistance appropriate for Executive's position and adequate for
the performance of his duties.


  


1.7           Reimbursement
of Expenses; Vacation; Sick Days and Personal Days. Executive shall be provided with reimbursement of expenses related to Executive's
employment by the Company on a basis no less favorable than that which may be authorized from time to time by the Board, in its
sole discretion, for senior level executives as a group. Executive shall be entitled to vacation and holidays in accordance with
the Company's normal personnel policies for senior level executives, but not less than three (4) weeks of vacation per calendar
year.


 


1.8           No
Other Compensation. Except as expressly provided in Sections 1.4 through 1.7, Executive shall not be entitled to any other
compensation or benefits.


 


2.             Confidential
Information. Executive recognizes and acknowledges that by reason of Executive's employment by and service to the Company before,
during and, if applicable, after the Employment Term, Executive will have access to certain confidential and proprietary information
relating to the Company's business, which may include, but is not limited to, trade secrets, trade "know-how," and plans,
financing services, funding programs, costs, strategy and programs, computer programs and software and financial information (collectively
referred to as "Confidential Information"). Executive acknowledges that such Confidential Information is a valuable and
unique asset of the Company and Executive covenants that he will not, unless expressly authorized in writing by the Company, at
any time during the course of Executive's employment use any Confidential Information or divulge or disclose any Confidential Information
to any person, firm or corporation except in connection with the performance of Executive's duties for the Company and in a manner
consistent with the Company's policies regarding Confidential Information. Executive also covenants that at any time after the
termination of such employment, directly or indirectly, he will not use any Confidential Information or divulge or disclose any
Confidential Information to any person, firm or corporation, unless such information is in the public domain through no fault of
Executive or except when required to do so by a court of law, by any governmental agency having supervisory authority over the
business of the Company or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction
to order Executive to divulge, disclose or make accessible such information. All written Confidential Information (including, without
limitation, in any computer or other electronic format) which comes into Executive's possession during the course of Executive's
employment shall remain the property of the Company. Except as required in the performance of Executive's duties for the Company,
or unless expressly authorized in writing by the Company, Executive shall not remove any written Confidential Information from
the Company's premises, except in connection with the performance of Executive's duties for the Company and in a manner consistent
with the Company's policies regarding Confidential Information. Upon termination of Executive's employment, the Executive agrees
to return immediately to the Company all written Confidential Information (including, without limitation, in any computer or other
electronic format) in Executive's possession. As a condition of Executive's continued employment with the Company and in order
to protect the Company's interest in such proprietary information, the Company shall require Executive's execution of a Confidentiality
Agreement and in the form attached hereto as Exhibit "B", and incorporated herein by this reference.


 




     


     


    

  


3.             Non-Competition;
Non-Solicitation.


 


3.1           Non-Compete.
The Executive hereby covenants and agrees that during the term of this Agreement and for a period of two years following the end
of the Employment Term, the Executive will not, without the prior written consent of the Company, directly or indirectly, on his
own behalf or in the service or on behalf of others, whether or not for compensation, engage in any business activity, or have
any interest in any person, firm, corporation or business, through a subsidiary or parent entity or other entity (whether as a
shareholder, agent, joint venture, security holder, trustee, partner, Executive, creditor lending credit or money for the purpose
of establishing or operating any such business, partner or otherwise) with any Competing Business in the Covered Area. For the
purpose of this Section 3.1, (i) "Competing Business" means any company engaged in acquiring and or monetizing intellectual
property for use in the gaming industry by any means including but not limited to commencing litigation against companies and others
violating the Company’s right in its intellectual property or intellectual property in which the Company has acquired an
interest. And (ii) "Covered Area" means all geographical areas of the United States and foreign jurisdictions where the
Company believes the rights to its intellectual property may have been violated. Notwithstanding the foregoing, the Executive may
own shares of companies whose securities are publicly traded, so long as such securities do not constitute more than ten percent
(10%) of the outstanding securities of any such company.


 


3.2           Non-Solicitation.
The Executive further agrees that as long as the Agreement remains in effect and for a period of one (1) year from its termination,
the Executive will not divert any business of the Company and or any affiliate of the Company and/or the Company's and/or its affiliates'
business to any other person, entity or competitor, or induce or attempt to induce, directly or indirectly, any person to leave
his or her employment with the Company.


 


3.3           Remedies.
The Executive acknowledges and agrees that his obligations provided herein are necessary and reasonable in order to protect the
Company and its affiliates and their respective business and the Executive expressly agrees that monetary damages would be inadequate
to compensate the Company and/or its affiliates for any breach by the Executive of his covenants and agreements set forth herein.
Accordingly, the Executive agrees and acknowledges that any such violation or threatened violation of this Section 3 will cause
irreparable injury to the Company and that, in addition to any other remedies that may be available, in law, in equity or otherwise,
the Company and its affiliates shall be entitled to obtain injunctive relief against he threatened breach of this Section 3 or
the continuation of any such breach by the Executive without the necessity of proving actual damages.


 


4.             Termination.


 


4.1           Termination
without Cause or for Good Reason.


 


(a)           If
this Agreement is terminated by the Company other than for Cause (as defined in Section 4.4 hereof) or as a result of Executive’s
death or Permanent Disability (as defined in Section 4.2 hereof), or if Executive terminates his employment for Good Reason (as
defined in Section 4.1(b) hereof) prior to the Expiration Date, Executive shall receive or commence receiving as soon as practicable
in accordance with the terms of this Agreement:


 


(i)          a
severance payment (the “Severance Payment”), which amount shall be paid in a cash lump sum within ten (10) days of
the date of termination, in an amount equal to the higher of the aggregate amount of the Executive's Base Salary for the then remaining
term of this Agreement or twelve times the average monthly Base Salary paid or accrued during the three full calendar months immediately
preceding such termination;


 




     


     


    

  


(ii)         expense
compensation, which shall be paid in a lump sum payment within ten (10) days of the date of termination, in an amount equal to
twelve times the sum of average Base Salary during the three full months immediately preceding such termination of providing the
services to Executive set forth in Section 1.4 and Executive’s reimbursed expenses set forth in Section 1.7;


 


(iii)        immediate
vesting of all unvested stock options and the extension of the exercise period of such options to the later of the longest period
permitted by the Company’s stock option plans or ten years following the Termination Date;


 


(iv)        payment
in respect of compensation earned but not yet paid (the “Compensation Payment”) which amount shall be paid in a cash
lump sum within ten (10) days of the date of termination. For the purposes of this Section, the Compensation Payment shall include
any payment for the pro-rata number of vacation days earned, but not taken in the preceding calendar year;


 


(v)         payment
of the cost of comprehensive medical insurance for Executive for a period of twelve months following the termination; and


 


(vi)        payment
of the cost of office space, not to exceed $3,000 per month for a period of twelve months.


 


(b)          For
purposes of this Agreement, “Good Reason” shall mean any of the following (without Executive’s express prior
written consent):


 


(i)          Any
material breach by Company of any provision of this Agreement, including any material reduction by Company of Executive’s
duties or responsibilities (except in connection with the termination of Executive’s employment for Cause, as a result of
Permanent Disability, as a result of Executive's death or by Executive other than for Good Reason);


 


(ii)         A
reduction by the Company in Executive’s Base Salary or any failure of the Company to reimburse Executive for material expenses
described in Section 1.7;


 


(iii)        The
failure by the Company to obtain the specific assumption of this Agreement by any successor or assign of Company as provided for
in Section 8.6 hereof;


 


(iv)        Moving
the principal offices of Company to a location outside of the New York Metro Area; or


  


(v)         Upon
a Change in Control of Company (as such term is hereinafter defined).


 


(c)           The
following provisions shall apply in the event compensation provided in Section 4.1(a) becomes payable to the Executive:


 


(i)          if
the severance compensation provided for in Section 4.1(a)(ii) above cannot be finally determined on or before the tenth day following
such termination, the Company shall pay to the Executive on such day an estimate, as determined in good faith by the Company of
the minimum amount of such compensation and shall pay the remainder of such compensation (together with interest at the Federal
short-term rate provided in Section 1274(d)(1)(C)(i) of the Code) as soon as the amount thereof can be determined but in no event
later than the thirtieth day after the Date of Termination. In the event the amount of the estimated payment exceeds the amount
subsequently determined to have been due, such excess shall constitute a loan by the Company to the Executive payable on the fifth
day after demand by the Company (together with interest at the Federal short-term rate provided in Section 1274(d)(1)(C)(i) of
the Code).


 




     


     


    

  


(ii)         If
the payment of the Total Payments (as defined below) will be subject to the tax (the “Excise Tax”) imposed by Section
4999 of the Code, the Company shall pay the Executive on or before the tenth day following the Date of Termination, an additional
amount (the “Gross-Up Payment”) such that the net amount retained by the Executive, after deduction of any Excise Tax
on Total Payments and any federal and state and local income tax and Excise Tax upon the payment provided for by this paragraph,
shall be equal to the Total Payments. For purposes of determining whether any of the payments will be subject to the Excise Tax
and the amount of such Excise Tax, (A) any payments or benefits received or to be received by the Executive in connection with
a Change in Control of the Company or the Executive’s termination of employment, whether payable pursuant to the terms of
this Agreement or any other plan, arrangement or agreement with the Company, its successors, any person whose actions result in
a Change in Control of the Company or any corporation affiliated or which, as a result of the completion of transaction causing
such a Change in Control, will become affiliated with the Company within the meaning of Section 1504 of Code (the “Total
Payments”) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and
all “excess parachute payments” within the meaning of Section 280G(b)(1) shall be treated as subject to the Excise
Tax, unless, in the opinion of tax counsel selected by the Company’s independent auditors and acceptable to the Executive,
the Total Payments (in whole or in part) do not constitute parachute payments, or such excess parachute payments (in whole or in
part) represent reasonable compensation for services actually rendered within the meaning of Section 280G(b)(4) of the Code either
in their entirety or in excess of the base amount within the meaning of Section 280G(b)(3) of the Code, or are otherwise not subject
to the Excise Tax, (B) the amount of the Total Payments that shall be treated as subject to the Excise Tax shall be equal to the
lesser of (I) the total amount of the Total Payments or (II) the amount of excess parachute payments or benefit shall be determined
by the Company’s independent auditors in accordance with the principles of Section 280G of the Code. For purposes of determining
the amount of the Gross-Up Payment, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal
income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest
marginal rate of taxation in the state and locality of the Executive’s residence on the Date of Termination, net of the maximum
reduction in federal income taxes which could be obtained from deduction of such state and local taxes. In the event the Excise
Tax is subsequently determined to be less than the amount taken into account hereunder at the time of termination of the Executive’s
employment, the Executive shall repay to the Company at the time the amount of such reduction in Excise Tax is finally determined
the portion of the Gross-Up Payment that can be repaid such that the Executive remains whole on an after-tax basis following such
repayment (taking into account any reduction in income or excise taxes to the Executive from such repayment) plus interest on the
amount of such repayment at the Federal short-term rate provided in Section 1274(d)(1)(C)(i) of the Code. In the event the Excise
Tax is determined to exceed the amount taken into account hereunder at the time of the termination of the Executive’s employment
(including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up Payment),
the Company shall make an additional gross-up payment in respect of such excess (plus any interest payable with respect to such
excess) at the time that the amount of such excess is finally determined.


‘


(iii)        This
Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code (the “Code”) or
an exemption or exclusion therefrom. Each payment under this Agreement shall be treated as a separate payment for purposes of Section
409A of the Code. In no event may Executive, directly or indirectly, designate the calendar year of any payment to be made under
this Agreement. All reimbursements and in-kind benefits provided under this Agreement that constitute deferred compensation within
the meaning of Section 409A of the Code shall be made or provided in accordance with the requirements of Section 409A of the Code,
including, without limitation, that (i) in no event shall reimbursements by the Company under this Agreement be made later than
the end of the calendar year next following the calendar year in which the applicable fees and expenses were incurred, provided
that Executive shall have submitted an invoice for such fees and expenses at least 10 days before the end of the calendar year
next following the calendar year in which such fees and expenses were incurred; (ii) the amount of in-kind benefits that the Company
is obligated to pay or provide in any given calendar year (other than medical reimbursements described in Treas. Reg. § 1.409A-3(i)(1)(iv)(B))
shall not affect the in-kind benefits that the Company is obligated to pay or provide in any other calendar year; (iii) Executive’s
right to have the Company pay or provide such reimbursements and in-kind benefits may not be liquidated or exchanged for any other
benefit; and (iv) in no event shall the Company’s obligations to make such reimbursements or to provide such in-kind benefits
apply later than Executive’s remaining lifetime or if longer, through the 20th anniversary of the Effective Date. To the
extent Executive is a “specified employee,” as defined in Section 409A(a)(2)(B)(i) of the Code and the regulations
and other guidance promulgated thereunder and any elections made by the Company in accordance therewith, notwithstanding the timing
of payment provided in any other Section of this Agreement, no payment, distribution or benefit under this Agreement that constitutes
a distribution of deferred compensation (within the meaning of Treasury Regulation Section 1.409A-1(b)) upon separation from service
(within the meaning of Treasury Regulation Section 1.409A-1(h)), after taking into account all available exemptions, that would
otherwise be payable, distributable or settled during the six-month period after separation from service, will be made during such
six-month period, and any such payment, distribution or benefit will instead be paid, distributed or settled on the first business
day after such six-month period; provided, however, that if Executive dies following the Date of Termination and prior to the payment,
distribution, settlement or provision of the any payments, distributions or benefits delayed on account of Section 409A of the
Code, such payments, distributions or benefits shall be paid or provided to the personal representative of Executive’s estate
within 30 days after the date of Executive’s death


  




     


     


    

  


4.2           Permanent
Disability. If Executive becomes totally and permanently disabled (as defined in the Company’s disability benefit plan
applicable to senior executive officers as in effect on the date thereof) (“Permanent Disability”), Company or Executive
may terminate this Agreement on written notice thereof, and Executive shall receive or commence receiving, as soon as practicable:


 


(a)           amounts
payable pursuant to the terms of the disability insurance policy or similar arrangement which Company maintains for the Executive,
if any, during the term hereof;


 


(a)           the
Compensation Payment which shall be paid to Executive as a cash lump sum within 30 days of such termination; and


 


(b)           immediate
vesting of all unvested stock options.


 


4.3           Death.
In the event of Executive’s death during the term of his employment hereunder, Executive's estate or designated beneficiaries
shall receive or commence receiving, as soon as practicable in accordance with the terms of this Agreement:


 


(a)        
  compensation equal to one year’s Base Salary (calculate by multiplying the average monthly Base Salary paid
or accrued for the three full calendar months immediately such event, which shall be paid within 30 days of such
termination;


 


(b)           any
death benefits provided under the Executive benefit programs, plans and practices in which the Executive has an interest, in accordance
with their respective terms;


 


(c)           the
Compensation Payment which shall be paid to Executive’s estate as a cash lump sum within 30 days of such termination; and


 


(d)           such
other payments under applicable plans or programs to which Executive's estate or designated beneficiaries are entitled pursuant
to the terms of such plans or programs.


 


4.4           Voluntary
Termination by Executive: Discharge for Cause. The Company shall have the right to terminate this Agreement for Cause (as hereinafter
defined). In the event that Executive’s employment is terminated by Company for Cause, as hereinafter defined, or by Executive
other than for Good Reason or other than as a result of the Executive’s Permanent Disability or death, prior to the Termination
Date, Executive shall be entitled only to receive, as a cash lump sum within 30 days of such termination, the Compensation Payment.
As used herein, the term “Cause” shall be limited to (a) willful malfeasance or willful misconduct by Executive in
connection with the services to the Company in a matter of material importance to the conduct of the Company's affairs which has
a material adverse effect on the business of the Company, or (b) the conviction of Executive for commission of a felony. For purposes
of this subsection, no act or failure to act on the Executive’s part shall be considered “willful” unless done,
or omitted to be done, by the Executive not in good faith and without reasonable belief that his action or omission was in the
best interest of the Company. Termination of this Agreement for Cause pursuant to this Section 4.4 shall be made by delivery to
Executive of a copy of a resolution duly adopted by the affirmative vote of all the Executive, if a Board member not participating
in the vote, of the members of the Board of Directors called and held for such purpose (after 30 days prior written notice to Executive
and reasonable opportunity for Executive to be heard before the Board of Directors prior to such vote), finding that in the good
faith business judgment of such Board of Directors, Executive was guilty of conduct set forth in any of clauses (a) through (b)
above and specifying the particulars thereof.


 




     


     


    

  


5.             Change
In Control.


 


5.1           Definition.
For purposes of this Agreement, a “Change in Control” shall be deemed to have occurred if (i) there shall be consummated
(A) any consolidation or merger of the Company in which the Company is not the continuing or surviving corporation or pursuant
to which shares of the Company’s Common Stock would be converted into cash, securities or other property, other than a merger
of the Company in which the holders of the Company’s Common Stock immediately prior to the merger have substantially the
same proportionate ownership of common stock of the surviving corporation immediately after the merger, or (B) any sale, lease,
exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of the
Company, or (ii) the stockholders of the Company shall approve any plan or proposal for the liquidation or dissolution of the Company,
or (iii) any person (as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange
Act”)), other than the Company or any executive benefit plan sponsored by the Company, or such person on the Effective Date
hereof is a 20% or more beneficial owner, shall become the beneficial owner (within the meaning of Rule 13d-3 under the Exchange
Act) of securities of the Company representing 20% or more of the combined voting power of the Company’s then outstanding
securities ordinarily (and apart from rights accruing in special circumstances) having the right to vote in the election of directors,
as a result of a tender or exchange offer, open market purchases, privately negotiated purchases or otherwise, or (iv) at any time
during a period of two consecutive years, individuals who at the beginning of such period, constituted the Board of Directors of
the Company shall cease for any reason to constitute at least a majority thereof, unless the election or the nomination for election
by the Company’s stockholders of each new director during such two-year period was approved by a vote of at least two-thirds
of the directors then still in office, who were directors at the beginning of such two-year period.


 


5.2           Rights
and Obligations. If a Change in Control of the Company shall have occurred while the Executive is director of the Company,
the Executive shall be entitled to the compensation provided in Section 4.1(a) of this Agreement upon the subsequent termination
of this Agreement by either the Company, or the Executive within two years of the date upon which the Change in Control shall have
occurred, unless such termination is a result of (i) the Executive’s death; (ii) the Executive’s Disability; (iii)
the Executive’s Retirement; or (iv) the Executive’s termination for Cause.


  


6.             Assignment.
This Agreement shall be binding upon and inure to the benefit of the heirs and representatives of Executive and the assigns and
successors of Company, but neither this Agreement nor any rights or obligations hereunder shall be assignable or otherwise subject
to hypothecation by Executive (except by will or by operation of the laws of intestate succession or by Executive notifying the
Company that cash payment be made to an affiliated investment partnership in which Executive is a control person) or by Company,
except that Company may assign this Agreement to any successor (whether by merger, purchase or otherwise) to all or substantially
all of the stock, assets or businesses of Company, if such successor expressly agrees to assume the obligations of Company hereunder.


 


7.             Indemnification.
Executive, as such and as a Director of the Company, shall be indemnified by the Company against all liability incurred by
the Executive in connection with any proceeding, including, but not necessarily limited to, the amount of any judgment obtained
against Executive, the amount of any settlement entered into by the Executive and any claimant with the approval of the Company,
attorneys’ fees, actually and necessarily incurred by him in connection with the defense of any action, suit, investigation
or proceeding or similar legal activity, regardless of whether criminal, civil, administrative or investigative in nature (“Claim”),
to which he is made a party or is otherwise subject to, by reason of his being or having been a director, officer, agent or employee
of the Company, to the full extent permitted by applicable law and the Certificate of Incorporation of the Company.. Such right
of indemnification will not be deemed exclusive of any other rights to which Executive may be entitled under Company’s Certificate
of Incorporation or By-laws, as in effect from time to time, any agreement or otherwise.


 




     


     


    

  


8.             General
Provisions.


 


8.1           Modification:
No Waiver. No modification, amendment or discharge of this Agreement shall be valid unless the same is in writing and signed
by all parties hereto. Failure of any party at any time to enforce any provisions of this Agreement or any rights or to exercise
any elections hall in no way be considered to be a waiver of such provisions, rights or elections and shall in no way affect the
validity of this Agreement. The exercise by any party of any of its rights or any of this elections under this Agreement shall
not preclude or prejudice such party from exercising the same or any other right it may have under this Agreement irrespective
of any previous action taken.


 


8.2           Notices.
All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be
in writing and shall be deemed to have been given when hand delivered or mailed by registered or certified mail as follows (provided
that notice of change of address shall be deemed given only when received):


  


If to the Company, to:


 


MGT Capital Investments, Inc.


500 Mamaroneck Avenue, Suite 204


Harrison, NY 10528


If to Executive, to:


Robert B. Ladd


 


Or to such other names or addresses as the
Company or Executive, as the case may be, shall designate by notice to each other person entitled to receive notices in the manner
specified in this Section.


 


8.3           Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.


 


8.4           Further
Assurances. Each party to this Agreement shall execute all instruments and documents and take all actions as may be reasonably
required to effectuate this Agreement.


 


8.5           Severability.
Should any one or more of the provisions of this Agreement or of any agreement entered into pursuant to this Agreement be determined
to be illegal or unenforceable, then such illegal or unenforceable provision shall be modified by the proper court or arbitrator
to the extent necessary and possible to make such provision enforceable, and such modified provision and all other provisions of
this Agreement and of each other agreement entered into pursuant to this Agreement shall be given effect separately from the provisions
or portion thereof determined to be illegal or unenforceable and shall not be affected thereby.


 


8.6           Successors
and Assigns. Executive may not assign this Agreement without the prior written consent of the Company. The Company may assign
its rights without the written consent of the executive, so long as the Company or its assignee complies with the other material
terms of this Agreement. The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding
upon the successors and permitted assigns of the Company, and the Executive's rights under this Agreement shall inure to the benefit
of and be binding upon his heirs and executors. The Company's subsidiaries and controlled affiliates shall be express third party
beneficiaries of this Agreement.


 


8.7           Entire
Agreement. This Agreement supersedes all prior agreements and understandings between the parties, oral or written. No modification,
termination or attempted waiver shall be valid unless in writing, signed by the party against whom such modification, termination
or waiver is sought to be enforced.


 




     


     


    

  


8.8           Counterparts;
Facsimile. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be
an original, and all of which taken together shall constitute one and the same instrument. This Agreement may be executed by facsimile
with original signatures to follow.


 


[SIGNATURE PAGE TO FOLLOW]


 




     


     


    

 


IN WITNESS WHEREOF, the undersigned, intending to be legally
bound, have executed this Agreement as of the date first written above.


 


	EXECUTIVE:	 	MGT CAPITAL INVESTMENTS, INC.
	 	 	 
	/s/ Robert Ladd 	 	/s/ Robert Holmes 
	Robert Ladd	 	Name: Robert Holmes
	 	 	Title: Director, Chairman of Compensation Committee