Document:

Exhibit 10.1

 

STRATEGIC ALLIANCE AGREEMENT

 

STRATEGIC ALLIANCE AGREEMENT
dated as of December 4, 2013 (the “Strategic Alliance Agreement”), by and among M2P ENTERTAINMENT GMBH, a German
corporation (“M2P”), M2P Americas, Inc., a Delaware corporation (“M2P Americas”), MGT CAPITAL
INVESTMENTS, INC., a Delaware corporation (“MGT”) and MGT STUDIOS, Inc., a Delaware corporation (“MGT
Studios” and together with MGT, the MGT Parties). The MGT Parties, M2P and M2P Americas are collectively referred to
as the “Parties”).

 

WHEREAS, MGT Studios is in the business
of designing and distributing online and mobile games for the U.S. market, including skill based gaming;

 

WHEREAS, M2P is a developer of skill based
games played online for cash as well as social games for certain of the European markets. M2P owns and/or has developed more than
30 game titles, including online and mobile skill based games and games developed specifically for the social network (e.g. facebook)
platform, including the games set forth on Exhibit A hereto (the “M2P Gaming Technology”);

 

WHEREAS, the Parties desire to work together
in order to jointly exploit the M2P Gaming Technology in North and South America (the “Territory”), with an
initial focus on the United States, including generating revenues through: (i) generating a rake from skill-based gaming played
for real money, (ii) sale of virtual goods in games, (iii) advertising, and (iv) merchandising.

 

NOW, THEREFORE, in consideration of the
above premises and the covenants and agreements of the Parties hereinafter set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.           Definitions.

 

(a)          “Existing
MGT Game Titles” means Hamster Golf, Smash Bots, SlotChamp and Real Deal Poker.

 

(b)          “M2P
Americas Products and Services” means all products and services offered by M2P Americas that utilize the M2P Gaming Technology
or the M2P Americas Joint IP.

 

(c)          “Independent
IP” means, with respect to a Party: (i) all Intellectual Property owned by such Party, solely together with any unaffiliated
third party other than the other Parties, as of the date hereof, and (ii) any and all Intellectual Property created by such Party,
solely or together with any unaffiliated third party other than the other Parties, or acquired by such Party after the date hereof
(including pursuant to the provisions of this Agreement).

 

    	 

    	 

    

 

(d)          “Intellectual
Property” means any inventions, discoveries, concepts, know-how and ideas, whether or not patentable, copyrightable,
registrable as a trademark, protectable as a mask work, protectable as a trade secret, or reduced to practice, including, without
limitation, any chemical, data, process, method, formula, article, composition, device, product, tool, machine, computer program,
routine, apparatus, appliance, design, drawing, practice, research notes, testing or research results, or techniques, as well as
any improvements thereto and know-how related thereto, including, in each case, copies and embodiments of the foregoing (in whatever
form or medium).

 

(e)          “Jointly
Developed IP” means any Intellectual Property made or conceived during the Term by any of the Parties, whether acting
independent or jointly with another party, whether or not the facilities, material or personnel of the other Parties were utilized,
that is developed from or arises from the Independent IP of another Party or the Intellectual Property that another Party comes
to own under the terms of this Agreement.

 

(f)          “Person”
means any individual, corporation, firm, partnership, limited liability company or other business entity.

 

2.           Sales
and Marketing of M2P Americas Products and Services.

 

(a)          Management.
M2P Americas shall manage the marketing of all M2P Americas Products and Services in the Territory and shall use commercially reasonable
efforts to market and sell and to solicit orders for the M2P Americas Products and Services in the United States.

 

(b)          Agents.
M2P Americas may appoint such agents within the Territory as it may deem necessary and proper in connection with the effective
marketing and sale of the M2P Americas Products and Services in the Territory. The terms of each agreement pursuant to which each
agent is appointed shall not be inconsistent with the terms and conditions of this Agreement. M2P Americas shall be responsible
for ensuring the compliance by each agent with the provisions of this Agreement relating to the marketing and sale of the M2P Americas
Products and Services, non-competition, and the protection of confidential information and intellectual property rights belonging
to M2P Americas.

 

(c)          Sales
and Marketing Plan. For each year during the Term, M2P Americas shall prepare an annual sales and marketing plan that will
include goals for sales of M2P Americas Products and Services and an annual budget for promotional activities (the “Marketing
Plan”). M2P Americas shall deliver the initial Marketing Plan not later than 45 days from the date hereof. Each subsequent
Marketing Plan shall be substantially in the form of the initial Marketing Plan, except as otherwise approved by the board of directors
of M2P Americas (the “M2P Americas Board”). The Marketing Plan shall be subject to the review and approval of
the M2P Americas Board. M2P Americas shall submit each Marketing Plan for the new calendar year to the M2P Americas Board not less
than 90 days prior to the end of each current calendar year. Once approved, subject to the approval of the M2P Americas Board,
the Marketing Plan shall not change during the year and shall be the basis for comparison of actual results. M2P shall provide
quarterly written status reports to the M2P Americas Board for review, including a discussion of projected versus actual results.

 

(d)          Marketing
Activities. Marketing activities that M2P Americas may undertake include:

 

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(1)         Ensuring
that all persons marketing the M2P Americas Products and Services are appropriately trained and supervised;

 

(2)         Developing
tradeshow and marketing material;

 

(3)         Coordinating
the implementation of all sales, advertising and promotional programs for the M2P Americas Products and Services;

 

(4)         Attending
applicable trade shows and conferences;

 

(5)         Exhibiting
the M2P Americas Products and Services at industry-related events;

 

(6)         Maintaining
an M2P Americas website;

 

(7)         Responding
to customer inquiries and complaints on a timely basis and providing such assistance and information as is reasonably requested;
and

 

(8)         Capturing
customer feedback.

 

(e)          Sales
and Marketing Cooperation. MGT Studios and M2P each agree to use commercially reasonable efforts to assist M2P Americas with
the marketing of M2P Americas Products and Services, including:

 

(1)         
Providing market and industry research relating to the M2P Americas Products and Services;

 

(2)         Assisting
in or providing technology training of M2P Americas sales personnel;

 

(3)         Assisting
in the development of tradeshow and marketing material;

 

(4)         Assisting
in the development of the Marketing Plan;

 

(5)         Assisting
in the implementation of sales and marketing programs;

 

(6)         Providing
access to confidential facebook user lists and other marketing contacts;

 

(f)          Financial
Contributions to Sales and Marketing.

 

(1)         
MGT Studios shall provide, at no cost to M2P Americas, the sales and marketing personnel necessary to implement the Marketing Plan.

 

(2)         
M2P shall host the M2P Americas Products and Services on its existing server network at no cost to M2P Americas, and shall at all
times maintain adequate server capacity to meet its hosting obligation hereunder. Notwithstanding the foregoing, at such time as
M2P is required to obtain greater server capacity than it currently has in order to meet its hosting obligation hereunder, M2P
Americas shall reimburse M2P for the costs of such incremental increase upon receipt of proper documentation evidencing such costs.

 

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(3)         MGT
shall advance sufficient cash to M2P Americas to pay for all third party costs of M2P Americas, including advertising and customer
acquisition costs (“Third Party Costs”). All advances of Third Party Costs shall be treated as a loan to M2P
Americas bearing an interest rate equal to the greater of (i) 4% per annum and (ii) the applicable federal rate.

 

3.           New
Game Development.

 

(a)          Cooperation
to Develop New Joint Games. M2P and MGT Studios shall each use commercially reasonable efforts to assist M2P Americas in the
design and development of new games for the U.S. market (“New Joint Games”).

 

(b)          Loans
to Fund New Joint Game Development Costs. As consideration for the assistance to design and develop New Joint Games, M2P and
MGT Studios shall each be entitled to reimbursement for all properly documented costs incurred in providing such development assistance.
Such costs shall be treated as a loan to M2P Americas bearing an interest rate equal to the greater of (i) 4% per annum and (ii)
the applicable federal rate.

 

(c)          New
Joint Games Intellectual Property. All Intellectual Property developed in connection with the development of New Joint Games
shall be treated as Jointly Developed IP.

 

4.           Representations
and Warranties of the MGT Parties.

 

(a)          Each
MGT Party represents and warrants that it is a corporation duly organized and validly existing under the laws of the State of Delaware,
it has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to
own and operate its property and to carry on its business as it is now being conducted.

 

(b)          Each
MGT Party represents and warrants that the execution and delivery of this Agreement by such MGT Party has been duly and validly
authorized, executed and delivered, and this Agreement is a legal, valid and binding obligation of such MGT Party enforceable against
such MGT Party in accordance with its terms, except as such obligations and their enforceability may be limited by (i) bankruptcy,
insolvency, reorganization, moratorium, and other similar laws affecting the enforcement of creditors’ rights generally,
(ii) general principles of equity, or (iii) the power of a court to deny enforcement of remedies based on public policy.

 

(c)          Each
MGT Party represents and warrants that the execution and delivery by such MGT Party of this Agreement and the consummation of the
transactions contemplated hereby will not result in the violation of any material law, statute, rule, regulation, order, writ,
injunction, judgment or decree of any court or governmental authority to or by which such MGT Party is bound, or of any provision
of such MGT Party’s organizational documents or any material contract, commitment or other obligation to which such MGT Party
is bound.

 

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5.           Representations
and Warranties of M2P Americas.

 

(a)          M2P
Americas represents and warrants that it is a corporation duly organized and validly existing under the laws of the State of Delaware,
has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to own
and operate its property and to carry on its business as it is now being conducted.

 

(b)          M2P
Americas represents and warrants that the execution and delivery of this Agreement by M2P Americas has been duly and validly authorized,
executed and delivered, and this Agreement is a legal, valid and binding obligation of M2P Americas enforceable against M2P Americas
in accordance with its terms, except as such obligations and their enforceability may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium, and other similar laws affecting the enforcement of creditors’ rights generally, (ii) general
principles of equity, or (iii) the power of a court to deny enforcement of remedies based on public policy.

 

(c)          M2P
Americas represents and warrants that the execution and delivery by M2P Americas of this Agreement and the consummation of the
transactions contemplated hereby will not result in the violation of any material law, statute, rule, regulation, order, writ,
injunction, judgment or decree of any court or governmental authority to or by which M2P Americas is bound, or of any provision
of M2P Americas’ organizational documents or any material contract, commitment or other obligation to which M2P Americas
is bound.

 

(d)          M2P
Americas represents and warrants that M2P has granted to M2P Americas a perpetual, exclusive royalty-free license to exploit the
M2P Gaming Technology in the Territory for all uses.

 

6.           Representations
and Warranties of M2P.

 

(a)          M2P
represents and warrants that it is a corporation duly organized, validly existing and in good standing under the laws of the Germany,
has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to own
and operate its property and to carry on its business as it is now being conducted and is duly qualified and in good standing to
do business in any of those jurisdictions where it is required to be qualified.

 

(b)          M2P
represents and warrants that the execution and delivery of this Agreement by M2P has been duly and validly authorized, executed
and delivered, and this Agreement is a legal, valid and binding obligation of M2P enforceable against M2P in accordance with its
terms, except as such obligations and their enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium,
and other similar laws affecting the enforcement of creditors’ rights generally, (ii) general principles of equity, or (iii)
the power of a court to deny enforcement of remedies based on public policy.

 

(c)          M2P
represents and warrants that the execution and delivery by M2P of this Agreement and the consummation of the transactions contemplated
hereby will not result in the violation of any material law, statute, rule, regulation, order, writ, injunction, judgment or decree
of any court or governmental authority to or by which M2P is bound, or of any provision of M2P’s organizational documents
or any material contract, commitment or other obligation to which M2P is bound.

 

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(d)          M2P
represents and warrants that M2P has granted to M2P Americas a perpetual, exclusive, royalty-free license to exploit the M2P Gaming
Technology in the Territory for all uses.

 

7.           Confidentiality.

 

(a)          Each
Party shall hold in strict confidence, and shall cause their respective officers, directors, employees, representatives, agents
and advisors to hold in strict confidence, all non-public information, knowledge or data relating to this Agreement, any Projects,
any customers or potential customers, the Parties, their respective affiliates and their respective businesses, and each Party
shall not use, communicate or disclose, or permit the use, communication or disclosure, of any such information, knowledge or data
to anyone other than the other Party or its officers or employees; provided, however, that the foregoing shall not
prohibit the use or disclosure of any such information that has been proved to be: (i) known to the Party prior to the disclosure
by the other Party, (ii) in the public domain through no fault of the disclosing party, (iii) reasonably required to be disclosed
by judicial or administrative process or by other requirements of law, or (iv) independently received from a third party with a
right to disclose such information.

 

(b)          Each
Party agrees not to make any public announcements regarding the Projects or the contents of this Agreement or of any discussions
among the Parties without the prior written consent of the other Party, except for any disclosure required by applicable law. All
copies or reproductions of confidential information made by the Parties shall bear a copy of the original confidentiality legend
or notice on such documents, and any third parties receiving such information shall be advised in writing of the confidential nature
of the disclosure.

 

8.           Prohibited
Activities. During the Term, each Party agrees that such Party will not (and will not cause its affiliates to): (i) interfere
with the goodwill or relationship that each Party and its respective affiliates has with any of their respective employees, suppliers,
distributors or customers; (ii) take any action anywhere which is intended to have an adverse effect on any supplier, distributor
or customer of each Party or its affiliates; or (iii) take any action or fail to take any action which could have an adverse effect
on any rights, licenses or permits related to the M2P Americas Products and Services held by each Party or its respective affiliates.

 

9.           Exclusivity;
Competition. Except as otherwise provided herein, during the term of this Agreement:

 

(a)          M2P
shall work with M2P Americas on an exclusive basis to develop, market, sell and generate revenues from skill based games played
for real money (the “Business”) in the Territory.

 

(b)          M2P
and MGT shall not, and shall cause their respective affiliates to not, directly or indirectly, for itself or through or on behalf
of any other Person, whether as an agent, stockholder, consultant, member, manager, partner, joint venturer, principal or other
equity owner or participant, invest in, carry on, engage in, conduct, or become involved in, the Business in the Territory. Notwithstanding
the foregoing, (i) the restriction in this Section 9(b) shall not apply to the Existing MGT Game Titles or games based on
daily fantasy sports, and (ii) the Parties agree to negotiate in good faith the terms and conditions that will apply in the event
that MGT desires to purchase or to cause M2P Americas to purchase new skill-based games played for real money.

 

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(c)          Each
Party shall not, and shall cause its affiliates to not, directly or indirectly, for itself or through or on behalf of any other
Person, whether as an agent, stockholder, consultant, member, manager, partner, joint venturer, principal or other equity owner
or participant (iii) solicit or attempt to solicit the employment of any Person employed by the Party or in any manner induce or
attempt to induce any Person employed by the Party to leave such employment.

 

10.          Term
and Termination.

 

(a)          Term.
Unless earlier terminated as set forth in Section 10(b) below, this Agreement shall commence as of the date hereof and remain
in effect until the sooner of (i) twenty (20) years from the date hereof, (ii) termination of this Agreement by mutual consent,
or (iii) termination of the Stockholders Agreement among M2P, MGT Studios and M2P Americas, dated as of December 4, 2013 (the “Term”).

 

(b)          Termination.

 

(1)         M2P
and the MGT Parties may terminate this Agreement if the other party has breached any of its material obligations pursuant to this
Agreement and has failed to remedy such breach within forty-five (45) days after receipt of written notice that describes the breach
with particularity.

 

(2)         M2P
and the MGT Parties may each terminate this Agreement upon written notice to the other party in the event of the insolvency, bankruptcy,
reorganization under bankruptcy or the assignment for the benefit of creditors of such party.

 

(c)          Effects
of Termination. Sections 7, 8, 10(c), 12 and 13 shall survive any termination of this Agreement.
Termination of this Agreement shall not effect a termination of any agreements entered into pursuant to the terms hereof.

 

11.          Relationship
of the Parties. No Party is authorized to act as agent for another Party or to make any commitment on behalf of another Party,
and the employees of one Party shall not be deemed employees of another Party.

 

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12.          Intellectual
Property.

 

(a)          MGT
Intellectual Property. The MGT Parties and their affiliates (the “MGT IP Holder”) shall retain ownership
of all Independent IP of the MGT IP Holder (the “MGT IP”). MGT Parties (on their own behalf and on behalf of
the applicable MGT IP Holder, warranting its authority to do so) hereby grants to M2P and M2P Americas the non-exclusive, royalty-free
right to use the MGT IP solely in connection with the development of M2P Joint IP (the “Permitted Use”). For
the avoidance of doubt, M2P and its affiliates shall not use the MGT IP other than for the Permitted Use, except as otherwise provided
herein. The granting of rights with respect to MGT IP beyond those set forth above shall be entirely within the discretion of the
MGT IP Holder and (if granted) shall be the subject of separate written agreements between the Parties. Unless otherwise agreed
to by the Parties, if this Agreement is terminated, M2P and its affiliates shall return all designs, drawings, calculations or
other technical data provided to them by the MGT Parties pursuant to the terms of this Agreement. M2P shall procure that any third
parties to whom it discloses any MGT IP shall enter into obligations with respect to confidentiality and protection of the MGT
IP which are no less onerous than those set out herein. With respect to any agreement entered into with respect to Jointly Developed
IP, the grant of MGT IP set out therein shall take precedence over this Section 12(a) to the extent of any inconsistency,
ambiguity or contradiction between them.

 

(b)          M2P
Intellectual Property. M2P and its affiliates (the “M2P IP Holder”) shall retain ownership of all Independent
IP of the M2P IP Holder (the “M2P IP”). M2P (on its own behalf and on behalf of each M2P IP Holder, warranting
its authority to do so) hereby grants to M2P Americas and the MGT IP Holders the exclusive, royalty-free right to use the M2P IP
in the Territory solely in connection with the carrying out of M2P Americas’ rights and responsibilities under this Agreement
(the “Permitted Use”). For the avoidance of doubt, M2P Americas shall not (and shall not permit any MGT IP Holder
to) use the M2P IP other than for the Permitted Use. The granting of rights with respect to M2P IP beyond those set forth above
shall be entirely within the discretion of the M2P IP Holder and (if granted) shall be the subject of separate written agreements
between the Parties. Unless otherwise agreed to by the Parties, if this Agreement is terminated, the MGT IP Holders shall return
all designs, drawings, calculations or other technical data provided to it by M2P pursuant to the terms of this Agreement. The
MGT IP Holders shall procure that any third parties to whom it discloses any M2P IP shall enter into obligations with respect to
confidentiality and protection of the M2P IP which are no less onerous than those set out herein. With respect to any agreement
entered into with respect to Jointly Developed IP, the grant of M2P IP set out therein shall take precedence over this Section
12(b) to the extent of any inconsistency, ambiguity or contradiction between them.

 

(c)          Jointly
Developed IP. M2P Americas shall own all right, title and interest in and to the Jointly Developed IP relating to or useful
with respect to the M2P Gaming Technology (the “M2P Joint IP”). Each of the Parties hereby agree to assign,
and hereby does assign, all of its right, title and interest in and to the M2P Joint IP to M2P Americas.

 

13.          LIMITATION
OF LIABILITY. EXCLUDING A BREACH OF A PARTY’S CONFIDENTIALITY OBLIGATIONS OR INFRINGEMENT OR MISAPPROPRIATION OF THE
OTHER PARTY’S INTELLECTUAL PROPERTY RIGHTS, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY OR TO ANY THIRD PARTY
FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES FOR LOST PROFITS OR LOSS OF BUSINESS, HOWEVER CAUSED AND UNDER ANY
THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND/OR STRICT LIABILITY) OR OTHER LEGAL OR EQUITABLE
THEORY OF LIABILITY INCLUDING UNJUST ENRICHMENT OR OTHERWISE), REGARDLESS OF WHETHER SUCH PARTY WAS ADVISED OF THE POSSIBILITY
OF SUCH DAMAGES AND NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY.

 

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14.          Miscellaneous.

 

(a)          Restriction
on Transfer. No Party may transfer its rights or obligations under this Agreement to a third party without the prior written
consent of the other Party, which consent shall not be unreasonably withheld or delayed.

 

(b)          Notices.
Any notices to be given by a Party to the other Party must be in writing and will be deemed duly served if delivered personally,
or upon receipt, if sent by facsimile transmission to the facsimile number set out below with confirmation receipt, or sent by
prepaid post or by courier (Fedex, UPS, DHL) to a Party at the address set out below. A Party’s address for notices may be
changed via notice as provided herein.

 

If to the MGT Parties or M2P Americas:

 

MGT Capital Investments, Inc.

500 Mamaroneck Avenue

Harrison, NY 10528 U.S.A.

Attention: Robert Ladd, President and CEO

Fax: (914) 630-7532

 

with copy to :

 

MGT Capital Investments, Inc.

500 Mamaroneck Avenue

Harrison, NY 10528

Attention: Stuart J. van Leenen, General Counsel

 

If to M2P:

 

m2p entertainment GmbH

Josef-Haumann Straße 10

44866 Bochum, Germany

Attention: Managing Director

Fax: +49 234 62970199

 

with copy to :

 

MSVV GmbH

Am Alten General 32a

44879 Bochum

Attention: Nicole Scheer, MD

 

(c)          Amendments
and Waivers. Except as otherwise provided herein, no change or modification to this Agreement shall be valid unless the same
is in writing and signed by the Parties hereto. Subject to the previous sentence, no waiver of any provision of this Agreement
shall be valid unless in writing and signed by the party against whom it is sought to be enforced. The failure of any party at
any time to insist upon strict performance of any condition, promise, agreement or understanding set forth herein shall not be
construed as a waiver or relinquishment of the right to insist upon strict performance of the same or other condition, promise,
agreement or understanding at a future time.

 

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(d)          Entire
Agreement. This Agreement states the entire agreement among the Parties and supersedes the Letter of Intent dated November
13, 2013 and all other prior understandings, commitments, or agreements, oral or written, with respect to the subject matter herein.

 

(e)          Applicable
Law. This Agreement shall be governed by, and construed and interpreted in accordance with the laws of the State of New York,
without regard to such State’s principles of conflict of laws.

 

(f)          Arbitration.
Any controversy or claim arising out of or related to this Agreement, including but not limited to the validity or the breach thereof,
shall be settled solely, finally and conclusively by arbitration administered pursuant to the then existing Rules of Arbitration
(the “Rules”) of the International Centre for Dispute Resolution. Each party may demand arbitration in writing
by sending notice to the other party, which demand shall include a statement of the matter in controversy. Any arbitration shall
be held solely in the International Centre for Dispute Resolution in the City of New York, NY. The arbitration shall be decided
by a board of three (3) arbitrators selected in accordance with the Rules (the “Board of Arbitrators”). Prior
to the commencement of hearings, each of the arbitrators appointed shall provide an oath or undertaking of impartiality. The Board
of Arbitrators shall base its decision on the terms of the Agreement. An award rendered by a majority of the Board of Arbitrators
shall be final and binding on all parties to the proceeding, and judgment upon such award may be entered in any court having jurisdiction
thereof. Except as may be required by law, neither a party nor an arbitrator may disclose the existence, content or results of
any arbitration hereunder without the prior written consent of all parties thereto. The prevailing party shall be entitled to an
award of reasonable attorney fees. Each party will bear its own costs and expenses associated with the dispute resolution procedures
set forth in this section, except that the parties will share equally any fees payable to the arbitrators.

 

(g)          Severability.
If any provision of this Agreement shall be adjudged by any court of competent jurisdiction to be invalid or unenforceable for
any reason, such judgment shall not affect, impair or invalidate the remainder of this Agreement.

 

(h)          Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which together shall be deemed to be one and the same agreement. This Agreement and any amendments hereto,
to the extent signed and delivered by means of a facsimile machine or e-mail of a PDF file containing a copy of any executed agreement
(or signature page thereto), shall be treated in all respects and for all purposes as an original agreement or instrument and shall
be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.

 

[Remainder of Page Blank;
Signature Page Follows]

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IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date first written above.

 

	 	MGT CAPITAL INVESTMENTS, INC.
	 	 	 
	 	By:	/s/ Robert Ladd
	 	 	Name: Robert Ladd
	 	 	Title:   President and CEO
	 	 	 
	 	MGT STUDIOS, INC.
	 	 	 
	 	By:	/s/ Robert Ladd
	 	 	Name: Robert Ladd
	 	 	Title:   President and CEO
	 	 	 
	 	M2P AMERICAS, INC.
	 	 	 
	 	By:	/s/ Robert Ladd
	 	 	Name: Robert Ladd
	 	 	Title:   President and CEO
	 	 	 
	 	M2P ENTERTAINMENT GMBH
	 	 	 
	 	By:	/s/ Bjorn Kaufmann
	 	 	Name: Bjorn Kaufmann
	 	 	Title: Managing Director

 

[Signature Page to Strategic Alliance Agreement]

 

    	11Exhibit 10.2

 

 

 

WARRANT
AMENDMENT AGREEMENT

 

This Warrant Amendment
Agreement (this “Agreement”) is entered into as of December 9, 2013, between MGT Capital Investments, Inc.,
a Delaware corporation, with headquarters located at 500 Mamaroneck Avenue, Suite 204, Harrison, NY 10528 (the “Company”)
and Iroquois Master Fund Ltd (the “Holder”).

 

RECITALS

 

A.The Holder is the
owner of 613,496 Common Stock Purchase Warrants issued in connection with the Company’s November 2, 2012 financing agreements.
The warrants entitle the holder to purchase the Company’s Common Stock at an exercise price of $3.85 per Company share for
a period of five years from their date of issuance (the “Warrants”).

 

B.The Company desires
to have the Holder exercise all, but not less than all, of the Warrants at a reduced exercise price of $1.50 on the “Exercise
Time,” as defined below, and the Holder agrees to exercise the Warrants on the Exercise Time.

 

C.In connection herewith
and automatically upon the execution hereof, the Holder agrees that its Right of Participation (as identified in Section 2(g) of
the Subscription Agreement executed in connection with the Company’s November 2, 2012 financing agreements) (the “Participation
Right,”) will be extinguished and of no further force and effect.

 

AGREEMENT

 

NOW, THEREFORE, in exchange
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Holder hereby
agree as follows:

 

1.Exercise.
Subject to the satisfaction (or waiver) of the conditions set forth in Sections 5 and 6 of this Agreement, on the Exercise Time,
the Holder will exercise on a cash basis Warrants to purchase 613,496 shares of common stock of the Company (“Warrant
Shares”) at an exercise price of $1.50 per share, for aggregate cash proceeds to the Company of $920,244.00, and otherwise
pursuant to the terms of the Warrants. The terms of exercise of the Warrants being exercised hereunder supersede Section 6 of such
Warrants. The Company agrees to direct its transfer agent to promptly issue the shares of common stock issuable upon the exercise
of the Warrants to the DTC account of the Holder, which shares shall be delivered free of any legends or notations.

 

2.Subsequent
Equity Sales. From the date hereof until ninety (90) days after the Exercise Time, the Company shall not issue, enter into
any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents
other than Exempt Issuances, as defined herein. Exempt Issuances include public or private offerings with a fixed per share price
(or exercise and conversion prices, in the case of Common Stock Equivalents) of greater than $2.50; any shares or share options
granted pursuant to a stockholder approved employee stock ownership plans; and any shares issued in conjunction with bona fide
acquisitions. Notwithstanding anything herein to the contrary, in no event shall an Exempt Issuance include any transaction in
which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for,
or include the right to receive, additional shares of Common Stock either (A) at a conversion price, exercise price or exchange
rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the shares of Common Stock
at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise or exchange price that
is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence
of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock
or (ii) enters into any agreement, including, but not limited to, an equity line of credit whereby the Company may issue securities
at a future determined price, but not including an agency agreement with a registered broker-dealer provided that the Company agrees
with such broker-dealer and publicly announces that it will not sell any Common Stock for less than $2.50 per share.

 

    	1

    	 

    

 

3.Closing.
The consummation of the transactions contemplated by this Agreement, referred to herein as the Exercise Time, shall occur at 10:00
a.m. (New York City time) on the date hereof, or such other dates and times as the parties agree upon in writing (the “Closing
Date”) but no later than December 11, 2013.

 

4.Participation
Right. Effective upon the execution hereof the Participation Right of the Holder as set forth in the November 2, 2012 Financing
Agreements shall thereafter be of no force and effect and shall be void ab initio.

 

5.Representations
and Warranties of the Company. The Company represents and warrants to the Holder as follows:

 

a.Authorization;
Enforceability. (i) The Company has the requisite power and authority to enter into and perform its obligations under this
Agreement and to consummate the transactions contemplated hereby, (ii) the execution and delivery of this Agreement by the Company
and the consummation by the Company of the transactions contemplated hereby have been duly authorized by all necessary action on
the part of the Company, and (iii) this Agreement constitutes a legal, valid and binding obligation of the Company, enforceable
against it in accordance with its terms, except as such enforceability may be limited by general principles of equity or to applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the
enforcement of applicable creditors' rights and remedies.

 

b.No
Conflicts; Consents. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company
of the transactions contemplated will not (i) result in a violation of the Company’s certificate of incorporation of the
Company or its by-laws, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would
become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture or instrument to which the Company is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment
or decree (including federal and state securities laws and regulations and the rules of the Principal Market, applicable to the
Company or by which any property or asset of the Company is bound or affected). The Company is not required to obtain any consent,
authorization or order of, or make any filing or registration with, any court, governmental agency or any regulatory or self-regulatory
agency or any other Person in order for it to execute, deliver or perform any of its obligations under or contemplated by hereby,
other than the filing by the Company of a “Pro Supp,” as defined below.

 

    	2

    	 

    

 

c.Compliance
with Securities Laws; Effective Registration Statement. The transactions provided for in this Agreement do not contravene any
applicable securities laws and the rules and regulations promulgated thereunder, including but not limited to the Securities Act
of 1933 as amended (the “1933 Act”). The Registration Statement on Form S-3, File No. 333-185214 is immediately
available and effective for the resale of the Warrant Shares by the Holder and the Company has no reason to believe that such registration
statement shall not be effective and available to use by the Holder for all of the Warrant Shares for the foreseeable future.

 

d.Disclosure.
The Company confirms that neither it nor any other Person acting on its behalf has provided the Holder or its agents or counsel
with any information that constitutes or could reasonably be expected to constitute material, nonpublic information that will not
be disclosed in, or prior to, the 8-K Filing (as defined below). The Company understands and confirms that the Holder will rely
on the foregoing representations in effecting transactions in securities of the Company. No event or circumstance has occurred
or information exists with respect to the Company or any of its subsidiaries or its or their business, properties, prospects, operations
or financial conditions, which, under applicable law, rule or regulation, but for the passage of time, requires public disclosure
or announcement by the Company but which has not been so publicly announced or disclosed. No Material Adverse Effect currently
exists or is reasonably expected to occur.

 

e. Placement
Fees. The company shall pay to Chardan Capital Markets, LLC. a placement fee for the solicitation of the exercise of the Warrants
equal to 8% of the gross proceeds raised, or $73,619.52. Additionally, the Company shall reimburse Chardan Capital Markets, LLC
$7,500 for its legal fees and expenses incurred in connection with this transaction. Such amounts shall be paid directly out of
the proceeds of the closing on the Closing Date.

 

    	3

    	 

    

 

6.Representations
and Warranties of the Holder. The Holder represents and warrants to the Company as follows:

 

a.Title
to Warrants. The Holder has good, legal and marketable title to the Warrants, free and clear of any and all liens or adverse
claims. As of the Exercise Time, the Holder shall not have assigned, conveyed or transferred any interest whatsoever (contingent
or otherwise) in the Warrants to any third party and the Warrants shall be delivered to the Company free and clear of any and all
liens or adverse claims.

 

b.Authorization;
Enforceability. (i) The Holder has the requisite power and authority to enter into and perform its obligations under this Agreement
and to consummate the transactions contemplated hereby, (ii) the execution and delivery of this Agreement by the Holder and the
consummation by the Holder of the transactions contemplated hereby have been duly authorized by all necessary action on the part
of the Holder, and (iii) this Agreement constitutes a legal, valid and binding obligation of the Holder, enforceable against it
in accordance with its terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement
of applicable creditors' rights and remedies.

 

c.No
Conflicts. The execution, delivery and performance by the Holder of this Agreement and the consummation by the Holder of the
transactions contemplated hereby will not (i) result in a violation of the organizational documents of the Holder or (ii) conflict
with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the
Holder is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and
state securities laws) applicable to the Holder, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults,
rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect
on the ability of the Holder to perform its obligations hereunder.

 

7.Conditions
to the Company’s Obligations. On the Exercise Date the Holder shall have completed the Notice of exercise of 613,496
Warrants along with the appropriate cash payment to the Company or to an attorney escrow account at Sichenzia, Ross, Friedman Ference
LLP for the benefit of the Company.

 

a.Representations
and Warranties. The representations and warranties of the Holder shall be true and correct in all respects as of the date when
made and as of the Closing Date, except for representations and warranties that are expressly made as of a particular date, which
shall be true and correct in all material respects as of such date.

 

    	4

    	 

    

 

b.No
Prohibition. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

8.Conditions
to the Holder’s Obligations. The obligation of the Holder to exercise the Warrants at the closing is subject to the
satisfaction, at or before the Closing Date, of each of the following conditions, provided that these conditions are for the Holder’s
sole benefit and may be waived by Holder at any time in its sole discretion by providing the Company with prior written notice
thereof:

 

a.Representations
and Warranties. The representations and warranties of the Company shall be true and correct in all material respects as of
the date when made and as of the Closing Date, except for representations and warranties that speak as of a particular date, which
shall be true and correct in all material respects as of such date..

 

b.No
Prohibition. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

c.Pro
Supp. On or before the 8-K Filing, the Company will have filed a Prospectus Supplement with the SEC disclosing the change in
the exercise price of the Warrants.

 

9.Disclosure
of Transactions and Other Material Information. On or before 8:30 a.m., New York City time, on the Business Day following the
date of this Agreement, the Company shall file a Current Report on Form 8-K describing the terms of this transaction in the form
required by the 1934 Act (including all attachments, the "8-K Filing"). Upon the filing of the 8-K Filing with
the SEC, the Holder shall not be in possession of any material, nonpublic information received from the Company, any of its subsidiaries
or any of its respective officers, directors, employees or agents, that is not disclosed in the 8-K Filing. The Company shall not,
and shall cause each of its Subsidiaries and its and each of their respective officers, directors, employees and agents, not to,
provide the Holder with any material, nonpublic information regarding the Company or any of its subsidiaries from and after the
filing of the 8-K Filing with the SEC without the express written consent of the Holder. If the Holder has, or believes it has,
received any such material, nonpublic information regarding the Company or any of its Subsidiaries from the Company, any of its
Subsidiaries or any of their respective officers, directors, affiliates or agents, it may provide the Company with written notice
thereof. The Company shall, within one (1) Trading Day of receipt of such notice, make public disclosure of such material, nonpublic
information. In the event of a breach of the foregoing covenant by the Company, any of its Subsidiaries, or any of its or their
respective officers, directors, employees and agents, in addition to any other remedy provided herein, the Holder shall have the
right to make a public disclosure, in the form of a press release, public advertisement or otherwise, of such material, nonpublic
information without the prior approval by the Company, its Subsidiaries, or any of its or their respective officers, directors,
employees or agents. The Holder shall not have any liability to the Company, its Subsidiaries, or any of its or their respective
officers, directors, employees, stockholders or agents for any such disclosure. To the extent that the Company delivers any material,
non-public information to the Holder without the Holder's consent, the Company hereby covenants and agrees that the Holder shall
not have any duty of confidentiality with respect to, or a duty not to trade on the basis of, such material, non-public information.
Subject to the foregoing, neither the Company, its Subsidiaries nor the Holder shall issue any press releases or any other public
statements with respect to the transactions contemplated hereby; provided, however, that the Company shall be entitled, without
the prior approval of the Holder, to make any press release or other public disclosure with respect to such transactions (i) in
substantial conformity with the 8-K Filing and contemporaneously therewith and (ii) as is required by applicable law and regulations
(provided that in the case of clause (i) the Holder shall be consulted by the Company in connection with any such press release
or other public disclosure prior to its release).

 

    	5

    	 

    

 

10.Transaction
Documents. Except as otherwise expressly provided herein, the original transaction documents pursuant to which the Warrants
were issued are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects. The
Holder’s execution of this Agreement shall not constitute a novation, refinancing, discharge, extinguishment or refunding
nor is it to be construed as a release, waiver or modification of any of the terms, conditions, representations, warranties, covenants,
rights or remedies set forth in the original transaction documents, except as expressly provided herein.

 

11.Termination.
In the event that the Closing does not occur on or before December 12, 2013, due to the Company's or the Holder's failure to satisfy
the conditions set forth in Sections 5 and 6 hereof (and the non-breaching party's failure to waive such unsatisfied conditions(s)),
the non-breaching party shall have the option to terminate this Agreement with respect to such breaching party at the close of
business on such date without liability of any party to any other party.

 

12.Miscellaneous.

 

a.Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule
(whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions
other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit,
action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each
party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE,
AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS
AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	6

    	 

    

 

b.Counterparts,
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, all of which shall be considered one and
the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other parties.
This Agreement, once executed by a party, may be delivered to the other parties hereto by electronic mail or facsimile transmission
of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c.Construction; Headings.
This Agreement shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person
as the drafter hereof. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Agreement.

 

d.Entire
Agreement; Amendments. This Agreement contains the entire understanding of the parties with respect to the matters covered
herein. No provision of this Agreement may be waived or amended other than by an instrument in writing signed by the parties.

 

e.Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party) or by electronic mail; or (iii) one Business Day after deposit with an overnight courier service, in each case properly
addressed to the party to receive the same. The addresses and facsimile numbers and e-mail addresses for such communications shall
be:

 

    	7

    	 

    

 

If to the Company:

 

MGT Capital Investments, Inc.

500 Mamaroneck Avenue, Suite 204

Harrison, NY 10528

Telephone:(914) 630-7430

Facsimile:(914) 630-7532

Attention:Robert Ladd, President and CEO

E-mail:rladd@mgtci.com

 

With a copy (for informational
purposes only) to:

 

Sichenzia Ross Friedman Ference LLP

61 Broadway – 32nd Floor

New York, NY 10006

Telephone:(212) 930-9700

Facsimile:(212) 980-9725

Attention:Arthur S. Marcus, Esq.

E-mail:Amarcus@srff.com

 

If to the Holder:

 

[                     ]

 

With a copy (for informational
purposes only) to:

 

 

[                     ]

 

 

or to such other address, facsimile number
and/or e-mail address and/or to the attention of such other Person as the recipient party has specified by written notice given
to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender's facsimile
machine or e-mail containing the time, date, recipient facsimile number and an image of the first page of such transmission or
(C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt
from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively.

 

f.Expenses.
Other than as set forth under this Agreement, each party hereto shall be responsible for its own fees and expenses incurred in
connection with the transactions contemplated by this Agreement.

 

g.Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Holder.

 

 

 

[SIGNATURE PAGE FOLLOWS]

 

 

 

    	8

    	 

    

 

IN WITNESS WHEREOF, the Company and the Holder
have caused this Agreement to be duly executed as of the date first above written.

 

 

	Company:	MGT CAPITAL INVESTMENTS, INC.
	 	 
	 	 
	 	By: 		 
	 	 	Name: Robert Ladd 

Title:   President and Chief Executive Officer
	 	 	 
	 	 	 
	 	 	 
	Holder:	 	 
	 	 	 
	 	By: 		 
	 	 	Name: 

Title:
	 	 	 

 

 

 

 

SIGNATURE PAGE TO WARRANT AMENDMENT AGREEMENT

 

 

 

    	9

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