Document:

January 28, 2014

 

Lawrence Kom

166 East 82nd Street, Apt. 5B

New York, NY 10028

 

		Re:	Change in Control Letter Agreement

 

Dear Lawrence:

 

MGT Capital Investments, Inc. (the “Company”)
desires, for its continued success, to have the benefit of experienced management personnel. The Board of Directors of the Company
therefore believes that it is in the best interests of the organization that, in the event of any prospective Change in Control
(as defined below) of the Company, you be reasonably secure in your employment and position with the Company. In addition, in the
event of a Change in Control, the Board of Directors also wants to enable you to exercise independent judgment as to the best interests
of the Company and its stockholders without the distraction of any personal uncertainties or risks regarding your continued employment
with the Company. In consideration of the foregoing, we are offering you the additional benefits outlined below:

 

Change of Control Benefits.

 

If, within twelve (12) months following
the consummation of the Change in Control, you are either terminated by the Company without Cause (as defined below) or you voluntarily
terminate your employment with the Company for “Good Reason” (as defined below), and provided you execute a general
release in a form provided by the Company at the time of termination, you will be entitled to receive the following benefits from
the Company:

 

		(i)	Severance. You will be entitled to receive a severance payment in an amount equal to twelve
(12) months of your then-current base salary in effect as of the date of such termination (less applicable withholding) (the
“Severance Payment”). The Severance Payment shall be paid in a cash lump sum within ten (10) days of the date
of termination.

 

		(ii)	Continuation of Benefits. The Company will pay for the continuation of your healthcare benefits
in effect at the time of the termination (including medical, dental and vision) pursuant to COBRA for a twelve-month period following
the date of termination.

 

		(iii)	Acceleration of Vesting. Any future grant to you of shares of restricted common stock of
the Company or options to purchase shares of Common Stock will include the appropriate language providing that any unvested shares
of restricted stock or options outstanding at the time you are terminated by the Company without Cause or voluntarily terminate
your employment with the Company for “Good Reason” as the result of a Change in Control will become fully vested and,
in the case of options, exercisable pursuant to the terms and conditions of the applicable incentive grant agreement.

 

The Company shall deduct and withhold from
any amounts payable to you hereunder any amounts required to be deducted or withheld by the Company under the provisions of any
applicable federal, state or local statute, law, regulation, ordinance or order (including, without limitation, any applicable
excise tax pursuant to Section 4999 of the Code).

 

    	 

    	 

    

 

Definitions:

 

		(i)	“Cause” means termination of your employment as a result of your: (a) performance
of any act or failure to perform any act in bad faith and to the detriment of the Company; (b) dishonesty, intentional misconduct
or material breach of any agreement with the Company; or (c) commission of a crime involving dishonesty, breach of trust, or physical
or emotional harm to any person.

 

		(ii)	A“Change of Control” shall be deemed to have occurred if:

 

		a.	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, par value $0.001
(the “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,

 

		b.	the stockholders of the Company shall approve any plan or proposal for the liquidation or dissolution
of the Company,

 

		c.	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 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

 

		d.	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.

 

Notwithstanding the foregoing,
a transaction shall not constitute a Change in Control if: (i) its sole purpose is to change the state of the Company’s
incorporation; (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions
by the persons who held the Company’s securities immediately before such transaction; or (iii) following the consummation
of the transaction or series of related transactions, members of the Board of Directors of the Company prior to such transaction
constitute a majority of the members of the Board of Directors of the continuing or surviving entity.

 

    	 

    	 

    

 

		(iii)	“Good Reason.” For purposes of this Letter Agreement, “Good Reason”
shall mean any of the following (without your prior written consent):

 

		a.	Any material breach by the Company of any provision of this Letter Agreement, including any material
reduction by the Company of your duties or responsibilities (except in connection with the termination of your employment by the
Company for Cause or by you other than for Good Reason);

 

		b.	A reduction by the Company in your base salary;

 

		c.	The failure by the Company to obtain the specific assumption of this Letter Agreement by any successor
or assign of the Company;

 

		d.	Moving the principal offices of the Company to a location outside of the New York Metro Area; or

 

		e.	Upon a Change of Control of the Company.

 

Miscellaneous.

 

The rights and obligations of the parties
hereunder shall be governed by and interpreted, construed and enforced in accordance with the laws of the State of New York without
regard to its or any other jurisdiction’s conflict of laws principles. None of your rights or benefits, or obligations or
duties of the Company to you, may be assigned or transferred by you without the consent of the Company. Any provision herein may
be modified, terminated or waived only by a written agreement executed by the party against whom enforcement is sought. If any
provision of this Letter Agreement shall be held invalid, the remainder of this Letter Agreement shall not be affected thereby.
Each party shall execute and deliver all instruments and documents and take all actions as may be reasonably required or appropriate
to carry out the purposes of this Letter Agreement. This Letter Agreement may be executed in any number of counterparts, each of
which shall be deemed an original but all together of which shall constitute one and the same instrument. This Letter Agreement
constitutes the full and entire understanding and agreement between the parties with regard to the subject matter hereof and supersedes
any outstanding agreements pertaining to the subject matter hereof.

 

Please acknowledge your receipt of this
Letter Agreement and your agreement to its terms and conditions by signing and dating this Letter Agreement within seven days of
receipt and return an executed copy to Robert Traversa, MGT Capital Investments, Inc., 500 Mamaroneck Avenue, Suite 204, Harrison,
NY 10528.

 

    	 

    	 

    

 

Sincerely,

 

	MGT Capital Investments, Inc.	 
	 	 
	By:	/s/ Robert B. Ladd	 
	 	Name: Robert B. Ladd	 
	 	Title: President and CEO	 
	 	 
	Acknowledged, agreed and accepted by:	 
	 	 
	/s/ Lawrence Kom	 
	Lawrence Kom	 

 

Date: 1/28/2014

 

[Signature Page to Change of Control Letter
(Kom)]January 28, 2014

 

Stuart van Leenen

270 Sterling Place, Apt. 2

Brooklyn, NY 11238

 

		Re:	Change
in Control Letter Agreement

 

Dear Stuart:

 

MGT Capital Investments, Inc. (the “Company”)
desires, for its continued success, to have the benefit of experienced management personnel. The Board of Directors of the Company
therefore believes that it is in the best interests of the organization that, in the event of any prospective Change in Control
(as defined below) of the Company, you be reasonably secure in your employment and position with the Company. In addition, in the
event of a Change in Control, the Board of Directors also wants to enable you to exercise independent judgment as to the best interests
of the Company and its stockholders without the distraction of any personal uncertainties or risks regarding your continued employment
with the Company. In consideration of the foregoing, we are offering you the additional benefits outlined below:

 

Change of Control Benefits.

 

If, within twelve (12) months following
the consummation of the Change in Control, you are either terminated by the Company without Cause (as defined below) or you voluntarily
terminate your employment with the Company for “Good Reason” (as defined below), and provided you execute a general
release in a form provided by the Company at the time of termination, you will be entitled to receive the following benefits from
the Company:

 

		(i)	Severance. You will be entitled to receive a severance payment in an amount equal to twelve
(12) months of your then-current base salary in effect as of the date of such termination (less applicable withholding) (the
“Severance Payment”). The Severance Payment shall be paid in a cash lump sum within ten (10) days of the date
of termination.

 

		(ii)	Continuation of Benefits. The Company will pay for the continuation of your healthcare benefits
in effect at the time of the termination (including medical, dental and vision) pursuant to COBRA for a twelve-month period following
the date of termination.

 

		(iii)	Acceleration of Vesting. Any future grant to you of shares of restricted common stock of
the Company or options to purchase shares of Common Stock will include the appropriate language providing that any unvested shares
of restricted stock or options outstanding at the time you are terminated by the Company without Cause or voluntarily terminate
your employment with the Company for “Good Reason” as the result of a Change in Control will become fully vested and,
in the case of options, exercisable pursuant to the terms and conditions of the applicable incentive grant agreement.

 

The Company shall deduct and withhold from
any amounts payable to you hereunder any amounts required to be deducted or withheld by the Company under the provisions of any
applicable federal, state or local statute, law, regulation, ordinance or order (including, without limitation, any applicable
excise tax pursuant to Section 4999 of the Code).

 

    	 

    	 

    

 

Definitions:

 

		(i)	“Cause” means termination of your employment as a result of your: (a) performance
of any act or failure to perform any act in bad faith and to the detriment of the Company; (b) dishonesty, intentional misconduct
or material breach of any agreement with the Company; or (c) commission of a crime involving dishonesty, breach of trust, or physical
or emotional harm to any person.

 

		(ii)	A“Change of Control” shall be deemed to have occurred if:

 

		a.	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, par value $0.001
(the “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,

 

		b.	the stockholders of the Company shall approve any plan or proposal for the liquidation or dissolution
of the Company,

 

		c.	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 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

 

		d.	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.

 

Notwithstanding the foregoing,
a transaction shall not constitute a Change in Control if: (i) its sole purpose is to change the state of the Company’s
incorporation; (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions
by the persons who held the Company’s securities immediately before such transaction; or (iii) following the consummation
of the transaction or series of related transactions, members of the Board of Directors of the Company prior to such transaction
constitute a majority of the members of the Board of Directors of the continuing or surviving entity.

 

    	 

    	 

    

 

		(iii)	“Good Reason.” For purposes of this Letter Agreement, “Good Reason”
shall mean any of the following (without your prior written consent):

 

		a.	Any material breach by the Company of any provision of this Letter Agreement, including any material
reduction by the Company of your duties or responsibilities (except in connection with the termination of your employment by the
Company for Cause or by you other than for Good Reason);

 

		b.	A reduction by the Company in your base salary;

 

		c.	The failure by the Company to obtain the specific assumption of this Letter Agreement by any successor
or assign of the Company;

 

		d.	Moving the principal offices of the Company to a location outside of the New York Metro Area; or

 

		e.	Upon a Change of Control of the Company.

 

Miscellaneous.

 

The rights and obligations of the parties
hereunder shall be governed by and interpreted, construed and enforced in accordance with the laws of the State of New York without
regard to its or any other jurisdiction’s conflict of laws principles. None of your rights or benefits, or obligations or
duties of the Company to you, may be assigned or transferred by you without the consent of the Company. Any provision herein may
be modified, terminated or waived only by a written agreement executed by the party against whom enforcement is sought. If any
provision of this Letter Agreement shall be held invalid, the remainder of this Letter Agreement shall not be affected thereby.
Each party shall execute and deliver all instruments and documents and take all actions as may be reasonably required or appropriate
to carry out the purposes of this Letter Agreement. This Letter Agreement may be executed in any number of counterparts, each of
which shall be deemed an original but all together of which shall constitute one and the same instrument. This Letter Agreement
constitutes the full and entire understanding and agreement between the parties with regard to the subject matter hereof and supersedes
any outstanding agreements pertaining to the subject matter hereof.

 

Please acknowledge your receipt of this
Letter Agreement and your agreement to its terms and conditions by signing and dating this Letter Agreement within seven days of
receipt and return an executed copy to Robert Traversa, MGT Capital Investments, Inc., 500 Mamaroneck Avenue, Suite 204, Harrison,
NY 10528.

 

    	 

    	 

    

 

Sincerely,

 

	MGT Capital Investments, Inc.	 
	 	 
	By:	/s/ Robert B. Ladd	 
	 	Name: Robert B. Ladd	 
	 	Title: President and CEO	 
	 	 
	Acknowledged, agreed and accepted by:	 
	 	 
	/s/ Stuart van Leenen	 
	Stuart van Leenen	 

 

Date: 1/28/2014

 

[Signature Page to Change of Control Letter
(van Leenen)]

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