Document:

Exhibit 10.18

COMMUNITY TRUST BANCORP, INC.

2018 EXECUTIVE COMMITTEE

LONG-TERM INCENTIVE COMPENSATION PLAN

ARTICLE I

OBJECTIVES

Section 1.01

The 2018 Executive Committee Long-Term Incentive Compensation Plan is designed to reward members of the Executive Committee for Community Trust Bancorp, Inc.’s attainment of profitability on a long-term basis and is adopted to achieve the following objectives:

	
(a)

	
Increase the profitability and growth of Community Trust Bancorp, Inc. in a manner which is consistent with other goals of Community Trust Bancorp, Inc., its stockholders, and its employees;

	
(b)

	
Provide executive compensation which is competitive with other financial institutions;

	
(c)

	
Attract and retain personnel of outstanding ability and encourage excellence in the performance of individual responsibilities; and

	
(d)

	
Motivate and reward members of the Executive Committee for their contribution to the long-term success of Community Trust Bancorp, Inc.

ARTICLE II

DEFINITIONS

Section 2.01

As used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:

	
(a)

	
“Annual Long-Term Incentive Plan” or “Plan” means the 2018 Executive Committee Long-Term Incentive Compensation Plan set forth in this document and all amendments thereto.

	
(b)

	
“Board” means the Board of Directors of Community Trust Bancorp, Inc.

	
(c)

	
“Change in Control” shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan.

	
(d)

	
“Cumulative Net Income” shall mean Community Trust Bancorp, Inc.’s cumulative net income for the three (3) years ending December 31, 2020, computed in accordance with generally accepted accounting principles, and giving effect to the accrual for payment of all incentive compensation.

	
(e)

	
“Company” means Community Trust Bancorp, Inc. and its subsidiaries.

	
(f)

	
“Compensation Committee” means the Compensation Committee of the Board.

	
(g)

	
“Disability” shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan.

	
(h)

	
“Effective Date” means January 1, 2018, the date on which the Plan becomes effective.

	
(i)

	
“Fiscal Year” means the accounting period adopted by the Company for federal income tax purposes.

	
(j)

	
“Participant” means each member of the Executive Committee as of January 1, 2018.

	
(k)

	
“Performance Goal” shall have the meaning set forth in Section 7.01 below.

	
(l)

	
“Performance Period” means the three (3) Fiscal Years beginning on January 1, 2018.

	
(m)

	
“Performance Unit” shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan, with each Performance Unit to have a potential value of $1.00.

	
(n)

	
“Retirement” shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan.

	
(o)

	
“Salary” or “Salaries” means the base salary in effect for each Participant as of the last pay period in December 2018.

ARTICLE III

ADMINISTRATION OF THE PLAN

Section 3.01

The Compensation Committee shall administer the Plan and employ such agents as may reasonably be required to administer the Plan.

Section 3.02

The Compensation Committee shall adopt such rules and regulations of general application as are beneficial for the administration of the Plan and shall make all discretionary decisions involving a Participant in the Plan. The Compensation Committee shall also have the right to interpret the Plan, consistently with the applicable provisions of the 2015 Stock Ownership Incentive Plan, to determine the Effective Date, and to approve Participants in the Plan.

Section 3.03

A majority of the Compensation Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which there is a quorum shall be valid acts. Acts reduced to and approved in writing by a majority of the Compensation Committee shall also be valid acts.

Section 3.04

All incentive compensation payable under the Plan shall be paid from the general assets of the Company. To the extent that any person acquires a right to receive payments under the Plan, such right shall be no greater than the right of any unsecured creditor of the Company.

Section 3.05

The Compensation Committee may authorize the Chairman of the Board, President and Chief Executive Officer of the Company to send a written notice of such Plan to each Participant, substantially in the form of Attachment A hereto, and to execute and deliver, on behalf of the Company, a Performance Unit Agreement granting Performance Units to the Participant consistent with the Plan. No person shall have rights under the Plan until receiving and executing a Performance Unit Agreement, also executed by the Company, substantially in the form of Attachment B hereto.

Section 3.06

All costs and expenses involved in the administration of the Plan shall be paid by the Company.

Section 3.07

Any determination or action of the Compensation Committee or the Board shall be final, conclusive and binding on all Participants and their beneficiaries, heirs, personal representatives, executors, and administrators.

Section 3.08

The Board of Directors, in its sole discretion, may amend, modify or terminate the Plan at any time. Notwithstanding the foregoing, after the ninetieth (90th) day of the year, the Performance Goals specified in Section 7.01 of this Plan may not be amended in a manner which would increase the amount of compensation payable pursuant to Performance Units over the amount which would have been payable under the Performance Goals previously established for such year.

ARTICLE IV

PARTICIPANT ELIGIBILITY

Section 4.01

The Participants in the Plan will be the members of the Executive Committee of the Company as of January 1, 2018.

Section 4.02

Voluntary or involuntary termination of full-time employment of a Participant prior to the expiration of the Performance Period will result in such Participant forfeiting any payment for Performance Units for the Performance Period, except as provided in Sections 4.03 and 4.04 below.

Section 4.03

In the case of termination of employment by reason of death, Disability, or Retirement of a Participant prior to the expiration of the Performance Period, any then outstanding Performance Units of such Participant shall be payable in an amount equal to the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by a percentage equal to the percentage that would have been earned under the terms of the Performance Unit Agreement assuming that the rate at which the Performance Goal set forth in Section 7.01 below has been achieved, as of the date of such termination of employment, would have continued until the end of the Performance Period.

Section 4.04

If, within the 24-month period beginning on the date of a Change in Control, a Participant’s employment is terminated other than for Cause or by Participant for Good Reason (“Change in Control Termination Event”), any then outstanding Performance Units shall become fully vested and payable as soon as reasonably practicable, but no later than seventy-four (74) days following the Change in Control Termination Event, in an amount which is equal to the greater of (a) the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by a percentage equal to the percentage that would have been earned under the terms of the Performance Unit Agreement assuming that the rate at which the Performance Goal has been achieved as of the date of such Change in Control would have been continued until the end of the Performance Period; or (b) the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by the percentage of the Performance Period completed by the Participant at the time of the Change in Control Termination Event.

Section 4.05

New employees of the Company and persons promoted during the Performance Period who were not eligible to participate in the Plan at the beginning of the Performance Period, but have become members of the Executive Committee, shall participate in the Plan so long as such eligibility came into existence no later than six (6) months after the beginning of the Performance Period. If a person becomes eligible at a date later than six (6) months into the Performance Period, such person shall not be a Participant under the Plan.

ARTICLE V

PAYMENTS TO PARTICIPANTS

Section 5.01

The maximum payment in cash or shares that can be made pursuant to Performance Units granted to any one Participant in any calendar year is $1,000,000. Subject to this limitation and such terms and conditions as the Compensation Committee may impose, Performance Units shall be payable: (a) within seventy-four (74) days following the end of the Performance Period during which the Participant attained at least the minimum acceptable level of achievement under the Performance Goal; or (b) in the event of a Change in Control Termination Event, as soon as reasonably practicable following the Change in Control Termination Event, but no later than seventy-four (74) days following the Change in Control Termination Event.

Section 5.02

A Participant may elect to defer payment of all or part of his or her compensation under the Performance Units so long as the Participant requests such deferred payment under the terms of the Company’s Voluntary Deferred Compensation Plan; provided, however that such election to defer payment is subject to, and shall be made in accordance with, U. S. Treas. Reg. 1.409A-2(b)(1).

 

ARTICLE VI

DETERMINATION OF TARGET AWARD FUND FOR PERFORMANCE UNITS

Section 6.01

The target award fund shall be generated by a percentage of the Salary of the CTBI Chief Executive Officer, the CTB Chief Executive Officer, and the other members of the Executive Committee, respectively. The target award fund shall be computed as shown in Table I below; however, the target award may be changed by the Compensation Committee of the Board of Directors at any time during the Performance Period at their discretion; provided, however, that the target award as a percentage of Salary may not be increased after the ninetieth (90th) day of the 2016 calendar year.

TABLE I

TARGET AWARD FUND

	
PARTICIPANTS

	
SALARIES

 

 

	
TARGET AWARD

EXPRESSED AS A

 % OF SALARY

	
TARGET AWARD

 FUND

	
CTBI CEO

	
$

	
X 40%

	
$

	
CTB CEO

	
$

	
X 30%

	
$

	
All Other Members of the Executive

 Committee

	
$

(aggregate salaries)*

	
X 20%

	
$

*The aggregate Salaries may be increased to reflect the Salaries of any new members of the Executive Committee to the extent permitted under Section 4.05 above.

 

Section 6.02

The actual amount of payments under the Performance Units shall be calculated according to a schedule comparing Cumulative Net Income to the Performance Goals described in Section 7.01 below. When performance meets established Performance Goals, the award fund will be adjusted according to the table shown in Section 7.01 below.

Section 6.03

Subject to Sections 4.03 and 4.04 above, there shall be a minimum acceptable performance beneath which no amounts may be paid under the Performance Units (sometimes referred to as the “threshold”) and a maximum performance above which there is no additional amount paid to avoid excessive payout in the event of windfall profits. Such minimum and maximum may be amended when necessary at any time in the sole discretion of the Compensation Committee; provided, however, that the minimum may not be reduced and the maximum may not be increased after the ninetieth (90th) day of the 2018 calendar year.

ARTICLE VII

CALCULATION OF PERFORMANCE UNIT PAYMENTS

Section 7.01

The amount payable to the Participants under the Performance Units is determined based on Cumulative Net Income, as shown in Table II below:

TABLE II

2018 PERFORMANCE GOALS

	
CUMULATIVE NET

 INCOME

	
Award as a % of

 Target Award

	
Award as a % of

CTBI Chief Executive

 Officer Salary

	
Award as a % of CTB CEO

Salary

	
Award as a %

of Salary of All

Other

Members of

the Executive

 Committee

	
90% of Target Cumulative Net Income (Minimum)

	
25%

	
10.0%

	
7.50%

	
5.00%

	
93% of Target Cumulative

Net Income

	
50%

	
20.0%

	
15.0%

	
10.0%

	
96% of Target Cumulative

Net Income

	
75%

	
30.0%

	
22.5%

	
15.0%

	
Target Cumulative Net Income (Per Schedule 1)

	
100%

	
40.0%

	
30.0%

	
20.0%

	
103% of Target Cumulative Net Income

	
120%

	
48.0%

	
36.0%

	
24.0%

	
107% of Target Cumulative Net Income

	
135%

	
54.0%

	
40.5%

	
27.05%

	
110.0% of Target Cumulative Net Income

(Maximum)

	
150%

	
60.0%

	
45.0%

	
30.0%

ARTICLE VIII

MISCELLANEOUS PROVISIONS

Section 8.01

The Compensation Committee may elect to remove unusual, extraordinary or non-recurring items from the calculation of Cumulative Net Income.

Section 8.02

Payments pursuant to the Performance Units shall be subject to recoupment by the Company to the extent required by applicable laws and regulations.

Section 8.03

The Company shall not merge into or consolidate with another entity or sell substantially all of its assets to another entity unless such other entity shall become obligated to perform the terms and conditions hereof relating to any amounts earned under Performance Units but not yet paid to the Participant.

 

SCHEDULE A

2018 Plan

CUMULATIVE NET INCOME TARGETS

  

	
CUMULATIVE NET INCOME TARGETS

	
% OF UNITS EARNED

	
$166 Million

	
25%

	
$171 Million

	
50%

	
$177 Million

	
75%

	
$184 Million

	
100%

	
$190Million

	
120%

	
$197 Million

	
135%

	
$202 Million

	
150%

1AMENDMENT
NO. 1

 

TO

 

AGREEMENT
AND PLAN OF MERGER

 

This
Amendment No. 1 to the Agreement And Plan Of Merger (“Amendment”), dated January 23, 2018, is by and between
Marathon Patent Group Inc., a Nevada corporation with an address 11100 Santa Monica Blvd., Ste. 380, Los Angeles, California 90025(the
“Company”), Global Bit Acquisition Corp. (“GBAC”) and Global Bit Ventures, Inc., a Nevada Corporation
(“GBV”).

 

WHEREAS,
the parties entered into an Agreement and Plan of Merger on November 1, 2017 (the “Merger Agreement”); and

 

WHEREAS,
the parties wish to amend the Merger Agreement as set forth below, with the understanding that all other provisions of the Merger
Agreement shall remain unchanged;

 

NOW,
THEREFORE, in consideration of the terms and conditions hereinafter set forth, the parties hereto agree as follows:

 

1.
Section 2.04 (b) of the Merger Agreement shall be amended in its entirety to read as follows:

 

Conversion
of Company Shares. Each Company Share that is issued and outstanding at the Effective Time, set forth on Schedule A, shall
automatically be cancelled and extinguished and converted, without any action on the part of the holder thereof, into the right
to receive Acquisition Shares. The total number of Parent Common Shares on a fully diluted basis that the Company Shareholders
shall receive which constitutes the Acquisition Shares, including upon conversion of the Parent’s Series C Preferred Stock
is 126,674,557 which includes the Parent’s Common Shares underlying the Parent’s Series C Preferred Stock that the
Company Shareholders who would own more than 2.49% of the Parent Common Shares have the right to receive in lieu of Parent Common
Shares. All such Company Shares, when so converted, shall no longer be outstanding and shall automatically be cancelled and retired
and shall cease to exist, and each holder of a certificate representing any such shares shall cease to have any rights with respect
thereto, except the right to receive the Acquisition Shares paid in consideration therefor upon the surrender of such certificate
in accordance with this Agreement.

 

2.
Section 2.04 shall also be amended to eliminate the last sentence of Section 2.04 of the MERGER Agreement which read:

 

Immediately
after the conversion of the Company Shares, the Company Preferred Shares and the conversion of the Company Debt, the Company Shareholders
will own 81.0% of the Parent’s capital stock on a fully diluted basis at the time of Closing, subject to Section 5 below.

 

3.
Section 6.01 is hereby amended to add 6.01 (1) which shall read:

 

6.02(I)
The Company Shareholders shall have entered into lock up agreements in form and substance satisfactory to Parent.

 

    	 

    	 

    

 

4.
All references to Parent’s Series E Preferred Stock shall mean Series E-1 Preferred Stock, par value $0.0001 per share.

 

5.
Notwithstanding any language to the contrary in Section 6.02, the sale by Parent of up to 2,354,546 shares pursuant to its shelf
registration statement on Form S-3 has been agreed to and does not result in any adjustment to the Acquisition Shares being issued
to the Company Shareholders.

 

6.
Section 7.01 shall be amended to provide that the February 28, 2018 date is extended to March 15, 2018 and shall be subject to
consecutive 14 day extensions with written mutual consent, not to be extended past April 30, 2018, subject to a mutual agreement
to further extension.

 

7.
Section 8.01 is hereby amended to state that a copy of the notice to Parent shall be sent to Sichenzia Ross Ference Kesner LLP,
with the rest of information staying the same. Notices to Global Bit Ventures, Inc. shall be sent to:

 

Global
Bit Ventures, Inc.

2
Burlington Woods Dr., Ste. 100

Burlington,
MA 01803

Attn:
Charles Allen

 

8.
The terms and conditions of all other sections of the Merger Agreement shall remain unchanged and in full force and effect.

 

IN
WITNESS WHEREOF, the parties have executed this agreement as of January 23, 2018.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

[Signature
Page to Amendment No. 1 to Agreement and Plan of Merger]

 

	 	MARATHON PATENT GROUP, INC.
	 	 	 
	 	By:	 
	 	Name:	Merrick
    D. Okamoto
	 	Title:	Interim
    Chief Executive Officer
	 	 	 
	 	GLOBAL BIT ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name:	Merrick
    D. Okamoto
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	GLOBAL BIT VENTURES, INC.
	 	 	 
	 	By:	 
	 	Name:	Charles
    W. Allen
	 	Title:	Chief
    Executive Officer

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