Document:

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of the October 10, 2018, by and between
Marathon Patent Group, Inc., a Nevada corporation headquartered at 1180 N. Town Center Drive, Suite 100, Las Vegas, NV 89144 (“Company”)
and Merrick Okamoto, an individual (“Executive”). As used herein, the “Effective Date” of
this Agreement shall mean October 11, 2018.

 

W
I T N E S S E T H:

 

WHEREAS,
the Executive desires to be employed by the Company as Executive Chairman and Chief Executive Officer and the Company wishes to
employ the Executive in such capacities.

 

NOW,
THEREFORE, in consideration of the foregoing and their respective covenants and agreements contained in this document, the Company
and the Executive hereby agree as follows:

 

1.
Employment and Duties. The Company agrees to employ and the Executive agrees to serve as the Company’s Executive
Chairman and Chief Executive Officer. The duties and responsibilities of the Executive shall include the duties and responsibilities
as the Company’s Board of Directors (“Board”) may from time to time assign to the Executive and reasonably
commensurate with those duties and responsibilities normally associated with and appropriate for someone in the position of Executive
Chairman and Chief Executive Officer.

 

The
Executive shall devote all of his business time and best efforts to the performance of his duties under this Agreement and shall
be subject to, and shall comply with the Company policies, practices and procedures and all codes of ethics or business conduct
applicable to his position, as in effect from time to time. Notwithstanding the foregoing, the Executive shall be entitled to
(i) serve as a member of the board of directors of a reasonable number of companies, subject to the advance approval of the Board,
which approval shall not be unreasonably withheld, conditioned or delayed; (ii) serve on civic, charitable, educational, religious,
public interest or public service boards, subject to the advance approval of the Board, which approval shall not be unreasonably
withheld, and (iii) manage the Executive’s personal and family investments, in each case, to the extent such activities
do not materially interfere, as determined by the Board in good faith, with the performance of the Executive’s duties and
responsibilities hereunder.

 

2.
Term. The term of this Agreement shall commence on the Effective Date and shall continue for a period of two (2) years
following the Effective Date and shall be automatically renewed for successive one (1) year periods thereafter unless either party
provides the other party with written notice of his or its intention not to renew this Agreement at least three (3) months prior
to the expiration of the initial term or any renewal term of this Agreement. “Employment Period” shall mean
the initial two (2) year term plus renewals, if any.

 

3.
Place of Employment. The Executive’s services shall be performed at the Company’s offices located at 1180 N.
Town Center Drive, Suite 100, Las Vegas, NV 89144, or such other location(s) as mutually agreed upon in writing between the Company
and the Executive.

 

4.
Base Salary. The Company agrees to pay the Executive a base salary (“Base Salary”) of $350,000 per annum.
The parties agree that at the end of each year of the Employment Period including renewals, Executive’s Base Salary shall
increase by three percent (3%) to reflect increased cost of living (“COL Adjustment”), and the Base Salary
shall thereafter include all COL Adjustments. The Base Salary shall be paid in periodic installments in accordance with the Company’s
regular payroll practices. The Base Salary may only be increased but not decreased without the written consent of the Executive.

 

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(a)
Annual Bonus. The Executive shall be eligible to receive an annual bonus the (“Annual Bonus”) of up to
100% of the Base Salary, to be paid in cash, as reasonably determined by the Compensation Committee and/or the Board of
Directors of the Company (the “Compensation Committee”). The Annual Bonus shall be paid by the Company to
the Executive promptly after determination that the relevant targets, if any, have been met, it being understood that the
attainment of any financial targets associated with any bonus shall not be determined until following the completion of the
Company’s annual audit and public announcement of such results and shall be paid promptly following the Company’s
announcement of earnings, subject to cash availability. In the event that the Compensation Committee is unable to act or if
there shall be no such Compensation Committee, then all references herein to the Compensation Committee (except in the
proviso to this sentence) shall be deemed to be references to the Board. Upon his termination from employment, the Executive
shall be entitled to receive a pro-rata portion of the Annual Bonus calculated based upon the last day of the fiscal quarter
in which his employment is terminated, regardless of whether he is employed by the Company through the conclusion of the
fiscal quarter or year, as the case may be, on which the Annual Bonus is based. The Annual Bonus shall be paid no later than
June 30th of the year following when the Annual Bonus is earned, subject to cash availability. Merrick Okamoto and the
Compensation Committee will work to define a set of goals and objectives for the term of the Agreement as a basis for
determining a bonus award(s). Such goals will be quantitative as well as qualitative in nature.

 

(b)
Equity Awards. The Company hereby provides Executive with a grant of 5,000,000 Stock Options to purchase common stock (the
“Compensating Shares”) as approved by the Board of Directors (“Executive Award”),
subject to the vesting schedule displayed below (“Vesting Schedule”). For avoidance of doubt: vesting of
the Compensation Shares shall vest 50% (2,500,000 Options) upon signing of the agreement and the remaining 2,500,000 Options
will vest 25% (625,000 Options) every 6 months, thereafter. In the event of a Change of Control, specified in section 4(f),
the remaining Unvested Options will vest immediately. The Options will be available for Cashless Exercise, at the option of
the Executive. Options will be issued with a strike price based on the closing price of the Common stock as of the signature
date of the option grant. The official closing price on Bloomberg on the date of this agreement was $0.58 per
share.

 

In
addition to the Executive Award the Executive shall be eligible for such grants of awards under any applicable Company incentive
plan (or any successor or replacement plan adopted by the Board and approved by the stockholders of the Company) (the “Plan”)
as the Compensation Committee or Board may from time to time determine (the “Share Awards”). Share Awards shall
be subject to the applicable Plan terms and conditions, provided, however, that Share Awards shall be subject to any additional
terms and conditions as are provided herein or in any award certificate(s), which shall supersede any conflicting provisions governing
Share Awards provided under the Plan.

 

6.
Severance Compensation.

 

(a)
Upon termination of employment for any reason, the Executive shall be entitled to: (A) all Base Salary earned through the date
of termination to be paid according to Section 4; (B) any Annual Bonuses, pro-rated, to be paid in accordance with Section 5(a)
above.; (C) all accrued but unused vacation time, and (d) reimbursement of all reasonable expenses as set forth
in Section 8.

 

(b)
Upon termination of employment by Company for any reason other than for cause (“Cause”) as defined in Section
11(c), or upon termination of employment by Executive for good reason (“Good Reason”) as defined in Section
11(d)(1), Executive shall be entitled to receipt of all vested and unvested shares contemplated in the Executive Award in accord
with the Executive Vesting Schedule as if no termination occurred.

 

(c)
In the event of a termination by the Company without Cause, by the Executive for Good Reason or by the Executive within one hundred
eighty days (180) days of the occurrence of a Change of Control (as defined below) and subject to the additional provisions of
Section 11(d)(3), then in addition to the severance compensation set forth in Section 6(a) and 6(b), Executive shall also be entitled
to the following enhanced separation benefits (“Enhanced Separation Benefits”): (i) the greater of Executive’s
continued Base Salary through the balance of the Employment Period, as renewed, or ) twelve (12) months of Executive’s then
Base Salary; (ii) continued participation in Company welfare benefit plans (including health benefits) on the same terms as immediately
prior to termination and to be paid in full by the Company for the period of time set forth in this Section 6(c) (not to be less
than twelve months of continuation of benefits) and (iii) immediate vesting of all stock options/equity awards.

 

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(d)
Upon termination of Executive’s continued benefits (either pursuant to Section 6(a), 6(b) or 6(c) as the case may be), the
Executive may continue coverage with respect to the Company’s group health plans as permitted by the Consolidated Omnibus
Budget Reconciliation Act of 1985 (“COBRA”) for himself and each of his “Qualified Beneficiaries”
as defined by COBRA (“COBRA Coverage”). The Company shall reimburse the amount of any COBRA premium paid for
COBRA Coverage timely elected by and for the Executive and any Qualified Beneficiary of the Executive, and not otherwise reimbursed,
during the period that ends on the earliest of (x) the date the Executive or the Qualified Beneficiary, as the case may be, ceases
to be eligible for COBRA Coverage, (y) the last day of the consecutive eighteen (18) month period following the date of the Executive’s
termination of employment and (z) the date the Executive or the Qualified Beneficiary, as the case may be, is covered by another
group health plan. To reimburse any COBRA premium payment under this paragraph, the Company must receive documentation of the
COBRA premium payment within ninety (90) days of its payment.

 

7.
Clawback Rights. The Annual Bonus, and any and all stock based compensation (such as options and equity awards) (collectively,
the “Clawback Benefits”) shall be subject to “Clawback Rights” as follows: during the period
that the Executive is employed by the Company and upon the termination of the Executive’s employment and for a period of
three (3) years thereafter, if there is a restatement of any financial results from which any metrics were determined to be achieved
which were the basis of the granting and calculation of such Clawback Benefits to the Executive, the Executive agrees to repay
any amounts which were determined by reference to any Company financial results which were later restated (as defined below),
to the extent the Clawback Benefits amounts paid exceed the Clawback Benefits amounts that would have been paid, based on the
restatement of the Company’s financial information. All Clawback Benefits amounts resulting from such restated financial
results shall be retroactively adjusted by the Compensation Committee to take into account the restated results, and any excess
portion of the Clawback Benefits resulting from such restated results shall be immediately surrendered to the Company and if not
so surrendered within ninety (90) days of the revised calculation being provided to the Executive by the Compensation Committee
following a publicly announced restatement, the Company shall have the right to take any and all action to effectuate such adjustment.
The calculation of the revised Clawback Benefits amount shall be determined by the Compensation Committee in good faith and in
accordance with applicable law, rules and regulations. All determinations by the Compensation Committee with respect to the Clawback
Rights shall be final and binding on the Company and the Executive. The Clawback Rights shall terminate following a Change of
Control as defined in Section 11(f), subject to applicable law, rules and regulations. For purposes of this Section 7, a restatement
of financial results that requires a repayment of a portion of the Clawback Benefits amounts shall mean a restatement resulting
from material non-compliance of the Company with any financial reporting requirement under the federal securities laws and shall
not include a restatement of financial results resulting from subsequent changes in accounting pronouncements or requirements
which were not in effect on the date the financial statements were originally prepared (“Restatements”). The
parties acknowledge it is their intention that the foregoing Clawback Rights as relates to Restatements conform in all respects
to the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”)
and require recovery of all “incentive-based” compensation, pursuant to the provisions of the Dodd-Frank Act and any
and all rules and regulations promulgated thereunder from time to time in effect. Accordingly, the terms and provisions of this
Agreement shall be deemed automatically amended from time to time to assure compliance with the Dodd-Frank Act and such rules
and regulations as hereafter may be adopted and in effect.

 

8.
Expenses. The Executive shall be entitled to prompt reimbursement by the Company for all reasonable ordinary and necessary
travel, entertainment, and other expenses incurred by the Executive while employed (in accordance with the policies and procedures
established by the Company for its senior executive officers) in the performance of his duties and responsibilities under this
Agreement; provided, that the Executive shall properly account for such expenses in accordance with Company policies and procedures.
Reimbursement of such expenses shall be paid out even after Executive’s termination for any reason, so long as the expenses
were incurred during Executive’s employment with the Company.

 

9.
Other Benefits. During the term of this Agreement, the Executive shall be eligible to participate in incentive, stock purchase,
savings, retirement (401(k)), and welfare benefit plans, including, without limitation, health, medical, dental, vision, life
(including accidental death and dismemberment) and disability insurance plans (collectively, “Benefit Plans”),
in substantially the same manner and at substantially the same levels as the Company makes such opportunities available to the
Company’s managerial or salaried executive employees and/or its senior executive officers.

 

The
Company shall pay one hundred percent (100%) of the cost for any group medical, vision and/or dental coverage elected by and for
the Executive

 

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10.
Vacation. During the term of this Agreement, the Executive shall be entitled to accrue, on a pro rata basis, thirty (30)
paid vacation days per year. Vacation shall be taken at such times as are mutually convenient to the Executive and the Company
and no more than fifteen (15) consecutive days shall be taken at any one time without Company approval in advance.

 

11.
Termination of Employment.

 

(a)
Death. If the Executive dies during the Employment Period, this Agreement and the Executive’s employment with the
Company shall automatically terminate and the Company’s obligations to the Executive’s estate and to the Executive’s
Qualified Beneficiaries shall be those set forth in Section 6(a) and 6(d) regarding severance compensation.

 

(b)
Disability. In the event that, during the term of this Agreement the Executive shall be prevented from performing his essential
functions hereunder to the full extent required by the Company by reason of Disability (as defined below), this Agreement and
the Executive’s employment with the Company shall automatically terminate. The Company’s obligation to the Executive
under such circumstances shall be those set forth in Section 6(a) and 6(d) regarding severance compensation. For purposes of this
Agreement, “Disability” shall mean a physical or mental disability that prevents the performance by the Executive,
with or without reasonable accommodation, of his essential functions hereunder for an aggregate of ninety (90) days or longer
during any twelve (12) consecutive months. The determination of the Executive’s Disability shall be made by an independent
physician who is reasonably acceptable to the Company and the Executive (or his representative), be final and binding on the parties
hereto and be made taking into account such competent medical evidence as shall be presented to such independent physician by
the Executive and/or the Company or by any physician or group of physicians or other competent medical experts employed by the
Executive and/or the Company to advise such independent physician.

 

(c)
Cause.

 

(1)
At any time during the Employment Period, the Company may terminate this Agreement and the Executive’s employment hereunder
for Cause. For purposes of this Agreement, “Cause” shall mean: (a) the willful and continued failure of the
Executive to perform substantially his material duties and responsibilities for the Company (other than any such failure resulting
from the Executive’s death or Disability) after a written demand by the Board for substantial performance is delivered to
the Executive by the Company, which specifically identifies the manner in which the Board believes that the Executive has not
substantially performed his duties and responsibilities, which willful and continued failure is not cured by the Executive within
thirty (30) days following his receipt of such written demand; (b) the conviction of, or plea of guilty or nolo contendere
to, a felony, or (c) fraud, dishonesty or gross misconduct which is materially and demonstratively injurious to the Company.
Termination under clauses (b) or (c) of this Section 11(c)(1) shall not be subject to cure.

 

(2)
For purposes of this Section 11(c), no act, or failure to act, on the part of the Executive shall be considered “willful”
unless done, or omitted to be done, by him in bad faith and without reasonable belief that his action or omission was in, or not
opposed to, the best interest of the Company. Between the time the Executive receives written demand regarding substantial performance,
as set forth in subparagraph (1) above, and prior to an actual termination for Cause, the Executive will be entitled to appear
(with counsel) before the full Board to present information regarding his views on the Cause event. Under no circumstances shall
Executive be terminated under Section 11(c)(1)(a) before the expiration of the 30 day cure period. After such hearing, termination
for Cause must be approved by a majority vote of the full Board (other than the Executive). For terminations pursuant to Sections
11(c)(1)(b) and (c), the Board may suspend the Executive with full pay and benefits until a final determination by the full Board
has been made.

 

(3)
Upon termination of this Agreement for Cause, the Company shall have no further obligations or liability to the Executive or his
heirs, administrators or executors with respect to compensation and benefits thereafter, except for the obligation to pay the
Executive pursuant to Section 6(a). The Company shall deduct, from all payments made hereunder, all applicable taxes, including
income tax, FICA and FUTA, and other appropriate deductions.

 

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(d)
For Good Reason or a Change of Control or Without Cause.

 

(1)
At any time during the term of this Agreement and subject to the conditions set forth in Section 11(d)(2) below, the Executive
may terminate this Agreement and the Executive’s employment with the Company for “Good Reason” or on account
of a “Change of Control” (as defined in Section 11(f)). For purposes of this Agreement, “Good Reason”
shall mean the occurrence of any of the following events without Executive’s consent: (A) the assignment to the Executive
of duties that are significantly different from, and/or that result in a substantial diminution of, the duties that he assumed
on the Effective Date (including reporting to anyone other than solely and directly to the Board); (B) the assignment to the Executive
of a title that is different from and subordinate to the title Executive Chairman and Chief Executive Officer of the Company,
provided, however, for the absence of doubt following a Change of Control, should the Executive be required to serve in a diminished
capacity in a division or unit of another entity (including the acquiring entity), such event shall constitute Good Reason regardless
of the title of the Executive in such acquiring company, division or unit; (C) material breach by the Company of this Agreement,
or (D) a required relocation of the Executive’s place of employment (as defined in Section 3) by more than a 50 mile radius.

 

(2)
The Executive shall not be entitled to terminate this Agreement for Good Reason unless and until he shall have delivered written
notice to the Company within ninety (90) days of the date upon which the facts giving rise to Good Reason occurred of his intention
to terminate this Agreement and his employment with the Company for Good Reason, which notice specifies in reasonable detail the
circumstances claimed to provide the basis for such termination for Good Reason, and the Company shall not have eliminated the
circumstances constituting Good Reason within thirty (30) days of its receipt from the Executive of such written notice. In the
event the Executive elects to terminate this Agreement for Good Reason in accordance with Section 11(d)(1), such election must
be made within the twenty-four (24) months following the initial existence of one or more of the conditions constituting Good
Reason as provided in Section 11(d)(1). In the event the Executive elects to terminate this Agreement for a Change in Control
in accordance with Section 11(d)(1), such election must be made within one hundred eighty (180) days of the occurrence of the
Change of Control.

 

(3)
In the event that the Executive terminates this Agreement and his employment with the Company for Good Reason or within one hundred
eighty (180) days of the occurrence of a Change of Control, or the Company terminates this Agreement and the Executive’s
employment with the Company without Cause, the Company shall pay or provide to the Executive (or, following his death, to the
Executive’s heirs, administrators or executors) the Enhanced Separation Benefits set forth in Sections 6(c) and 6(d); provided,
that the Executive executes an agreement releasing Company and its affiliates from any liability associated with this Agreement
(excepting any payment obligations) and such release is irrevocable at the time the separation payment is first payable under
this Section 11 and the Executive complies with his other obligations under Sections 12 and 13 of this Agreement. Subject to the
terms hereof, one-half (1/2) of the compensation of the Enhanced Separation Benefits payment shall be paid within thirty (30)
days of the Executive’s termination of employment (“Initial Payment”), provided that the Executive has executed
a release (excepting payment obligations) and that if the release execution period begins in one taxable year and ends in another
taxable year, the Initial Payment shall not be made until the beginning of the taxable year immediately following termination.
The balance of the compensation of the Enhanced Separation Benefits shall be paid in substantially equal installments on the Company’s
regular payroll dates beginning with the first payroll date coincident with or immediately following the Initial Payment and ending
on the payroll date coincident with or immediately following the twelve (12) month anniversary of the Initial Payment. .
The Company shall deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA,
and other appropriate deductions.

 

(4)
The Executive shall not be required to mitigate the amount of any payment provided for in this Section 11(d) by seeking other
employment or otherwise, nor shall the amount of any payment provided for in this Section 11(d) be reduced by any compensation
earned by the Executive as the result of employment by another employer or business or by profits earned by the Executive from
any other source at any time before and after the termination date. The Company’s obligation to make any payment pursuant
to, and otherwise to perform its obligations under, this Agreement shall not be affected by any offset, counterclaim or other
right that the Company may have against the Executive for any reason.

 

(e)
Without “Good Reason” by the Executive. At any time during the term of this Agreement, the Executive shall
be entitled to terminate this Agreement and the Executive’s employment with the Company without Good Reason and other than
for a Change of Control by providing prior written notice of at least thirty (30) days to the Company. Upon termination by the
Executive of this Agreement or the Executive’s employment with the Company without Good Reason and other than for a Change
of Control, the Company shall have no further obligations or liability to the Executive or his heirs, administrators or executors
with respect to compensation and benefits thereafter, except for the obligations set forth in Sections 6(a). The Company shall
deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA, and other appropriate deductions.

 

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(f)
Change of Control. For purposes of this Agreement, “Change of Control” shall mean the occurrence of
any one or more of the following: (i) the accumulation (if over time, in any consecutive twelve (12) month period), whether directly,
indirectly, beneficially or of record, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2)
of the Securities Exchange Act of 1934, as amended) of more than fifty percent (50%) or more of the shares of the outstanding
Common Stock of the Company, whether by merger, consolidation , sale or other transfer of shares of Common Stock (other than a
merger or consolidation where the stockholders of the Company prior to the merger or consolidation are the holders of a majority
of the voting securities of the entity that survives such merger or consolidation) for purposes of clarity the Company expects
to sell a number of shares and/or convert outstanding senior debt to either preferred or common stock not limited to the period
of this contract to raise funds and stabilize its balance sheet and any such sales shall not constitute a change of control for
purposes of this section or Agreement, (ii) a sale of all or substantially all of the assets of the Company or (iii) during any
period of twelve (12) consecutive months, the individuals who, at the beginning of such period, constitute the Board, and any
new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote
of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the twelve (12)
month period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least
a majority of the Board.

 

(g)
Any termination of the Executive’s employment by the Company or by the Executive (other than termination by reason of the
Executive’s death) shall be communicated by written Notice of Termination to the other party of this Agreement. For purposes
of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the specific
termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of the Executive’s employment under the provision so indicated, provided, however, failure
to provide timely notification shall not affect the employment status of the Executive.

 

12.
Confidential Information.

 

(a)
Disclosure of Confidential Information. The Executive recognizes, acknowledges and agrees that he has had and will continue
to have access to secret and confidential information regarding the Company, its subsidiaries and their respective businesses
(“Confidential Information”), including but not limited to, its products, methods, formulas, software code,
patents, sources of supply, customer dealings, data, know-how, trade secrets and business plans, provided such information is
not in or does not hereafter become part of the public domain, or become known to others through no fault of the Executive. The
Executive acknowledges that such information is of great value to the Company, is the sole property of the Company, and has been
and will be acquired by him in confidence. In consideration of the obligations undertaken by the Company herein, the Executive
will not, at any time, during or after his employment hereunder, reveal, divulge or make known to any person, any information
acquired by the Executive during the course of his employment, which is treated as confidential by the Company, and not otherwise
in the public domain. The provisions of this Section 12 shall survive the termination of the Executive’s employment hereunder.

 

(b)
The Executive affirms that he does not possess and will not rely upon the protected trade secrets or confidential or proprietary
information of any prior employer(s) in providing services to the Company or its subsidiaries.

 

(c)
In the event that the Executive’s employment with the Company terminates for any reason, the Executive shall deliver forthwith
to the Company any and all originals and copies, including those in electronic or digital formats, of Confidential Information;
provided, however, the Executive shall be entitled to retain (i) papers and other materials of a personal nature, including, but
not limited to, photographs, correspondence, personal diaries, calendars and rolodexes, personal files and phone books, (ii) information
showing his compensation or relating to reimbursement of expenses, (iii) information that he reasonably believes may be needed
for tax purposes and (iv) copies of plans, programs and agreements relating to his employment, or termination thereof, with the
Company.

 

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13.
Section 409A.

 

The
provisions of this Agreement are intended to comply with or are exempt from Section 409A of the Code (“Section 409A”)
and the related Treasury Regulations and shall be construed in a manner consistent with the requirements for avoiding taxes or
penalties under Section 409A. The Company and the Executive agree to work together in good faith to consider amendments to this
Agreement and to take such reasonable actions necessary, appropriate or desirable to avoid imposition of any additional tax under
Section 409A or income recognition prior to actual payment to the Executive under this Agreement.

 

It
is intended that any expense reimbursement made under this Agreement shall be exempt from Section 409A. Notwithstanding the foregoing,
if any expense reimbursement made under this Agreement shall be determined to be “deferred compensation” subject to
Section 409A (“Deferred Compensation”), then (a) the right to reimbursement or in-kind benefits is not subject
to liquidation or exchange for another benefit, (b) the amount of expenses eligible for reimbursement, or in-kind benefits, provided
during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other
taxable year (provided that this clause (b) shall not be violated with regard to expenses reimbursed under any arrangement covered
by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in
effect) and (c) such payments shall be made on or before the last day of the taxable year following the taxable year in which
the expense was incurred.

 

With
respect to the time of payments of any amount under this Agreement that is Deferred Compensation, references in the Agreement
to “termination of employment” and substantially similar phrases, including a termination of employment due to the
Executive’s Disability, shall mean “Separation from Service” from the Company within the meaning of Section
409A (determined after applying the presumptions set forth in Treasury Regulation Section 1.409A-1(h)(1)). Each installment payable
hereunder shall constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b), including Treasury Regulation
Section 1.409A-2(b)(2)(iii). Each payment that is made within the terms of the “short-term deferral” rule set forth
in Treasury Regulation Section 1.409A-1(b)(4) is intended to meet the “short-term deferral” rule. Each other payment
is intended to be a payment upon an involuntary termination from service and payable pursuant to Treasury Regulation Section 1.409A-1(b)(9)(iii),
et. seq., to the maximum extent permitted by that regulation, with any amount that is not exempt from Code Section 409A being
subject to Code Section 409A.

 

Notwithstanding
anything to the contrary in this Agreement, if the Executive is a “specified employee” within the meaning of Section
409A at the time of the Executive’s termination, then only that portion of the severance and benefits payable to the Executive
pursuant to this Agreement, if any, and any other severance payments or separation benefits which may be considered Deferred Compensation
(together, the “Deferred Separation Benefits”), which (when considered together) do not exceed the Section
409A Limit (as defined herein) may be made within the first six (6) months following the Executive’s termination of employment
in accordance with the payment schedule applicable to each payment or benefit. Any portion of the Deferred Separation Benefits
in excess of the Section 409A Limit otherwise due to the Executive on or within the six (6) month period following the Executive’s
termination will accrue during such six (6) month period and will become payable in one lump sum cash payment on the date six
(6) months and one (1) day following the date of the Executive’s termination of employment. All subsequent Deferred Separation
Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding
anything herein to the contrary, if the Executive dies following termination but prior to the six (6) month anniversary of the
Executive’s termination date, then any payments delayed in accordance with this paragraph will be payable in a lump sum
as soon as administratively practicable after the date of the Executive’s death and all other Deferred Separation Benefits
will be payable in accordance with the payment schedule applicable to each payment or benefit.

 

For
purposes of this Agreement, “Section 409A Limit” shall mean a sum equal to (x) the amounts payable within the
terms of the “short-term deferral” rule under Treasury Regulation Section 1.409A-1(b)(4) plus (y) the amount payable
as “separation pay due to involuntary separation from service” under Treasury Regulation Section 1.409A-1(b)(9)(iii)
equal to the lesser of two (2) times: (i) the Executive’s annualized compensation from the Company based upon his annual
rate of pay during the Executive’s taxable year preceding his taxable year when his employment terminated, as determined
under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1); and (ii) the maximum amount that may be taken into account under a qualified
plan pursuant to Section 401(a)(17) of the Code for the year in which the Executive’s employment is terminated.

 

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14.
Miscellaneous.

 

(a)
Neither the Executive nor the Company may assign or delegate any of their rights or duties under this Agreement without the express
written consent of the other; provided, however, that the Company shall have the right to delegate its obligation of payment of
all sums due to the Executive hereunder, provided that such delegation shall not relieve the Company of any of its obligations
hereunder.

 

(b)
During the term of this Agreement, the Company (i) shall indemnify and hold harmless the Executive and his heirs and representatives
to the maximum extent provided by the laws of the State of Nevada and by Company’s bylaws and (ii) shall cover the Executive
under the Company’s directors’ and officers’ liability insurance on the same basis as it covers other senior
executive officers and directors of the Company.

 

(c)
This Agreement constitutes and embodies the full and complete understanding and agreement of the parties with respect to the Executive’s
employment by the Company, supersedes all prior understandings and agreements, whether oral or written, between the Executive
and the Company, and shall not be amended, modified or changed except by an instrument in writing executed by the party to be
charged. The invalidity or partial invalidity of one or more provisions of this Agreement shall not invalidate any other provision
of this Agreement. No waiver by either party of any provision or condition to be performed shall be deemed a waiver of similar
or dissimilar provisions or conditions at the same time or any prior or subsequent time.

 

(d)
This Agreement shall inure to the benefit of, be binding upon and enforceable against, the parties hereto and their respective
successors, heirs, beneficiaries and permitted assigns.

 

(e)
The headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning or
interpretation of this Agreement.

 

(f)
All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall
be deemed to have been duly given when personally delivered, sent by registered or certified mail, return receipt requested, postage
prepaid, or by reputable national overnight delivery service (e.g., Federal Express) for overnight delivery to the party at the
address set forth in the preamble to this Agreement, or to such other address as either party may hereafter give the other party
notice of in accordance with the provisions hereof. Notices shall be deemed given on the sooner of the date actually received
or the third business day after deposited in the mail or one business day after deposited with an overnight delivery service for
overnight delivery.

 

(g)
This Agreement shall be governed by and construed in accordance with the internal laws of the State of Nevada, and each of the
parties hereto irrevocably consents to the jurisdiction and venue of the federal and state courts located in the State of Nevada
for any disputes arising out of this Agreement, or the Executive’s employment with the Company. The prevailing party in
any dispute arising out of this Agreement shall be entitled to his or its reasonable attorney’s fees and costs.

 

(h)
This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one of the same instrument. The parties hereto have executed this Agreement as of the date
set forth above.

 

(i)
The Executive represents and warrants to the Company, that he has the full power and authority to enter into this Agreement and
to perform his obligations hereunder and that the execution and delivery of this Agreement and the performance of his obligations
hereunder will not conflict with any agreement to which the Executive is a party.

 

(j)
The Company represents and warrants to the Executive that it has the full power and authority to enter into this Agreement and
to perform its obligations hereunder and that the execution and delivery of this Agreement and the performance of its obligations
hereunder will not conflict with any agreement to which the Company is a party.

 

[Signature
page follows immediately]

 

    	8

    	 

    

 

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

 

	 	MARATHON PATENT GROUP, INC. 
	 	 	 
	 	By:
    	 /s/
    Fred Thiel
	 	Name:
    	Fred
    Thiel
	 	Title:
    	Chairman,
    Compensation Committee
	 	Date
    Signed: 	10/11/18
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	By:	/s/
Merrick Okamoto
	 	Name:
    	Merrick
    Okamoto
	 	Title:
    	Executive
    Chairman and Chief Executive Officer
	 	Date
    Signed: 	October
    10, 2018

 

    	9MARATHON
PATENT GROUP, INC.

2018
EQUITY INCENTIVE PLAN

NON-QUALIFIED
STOCK OPTION AGREEMENT

 

This
NON—QUALIFIED STOCK OPTION AGREEMENT (the “Option Agreement”), dated as of the __ day of ______, 201_
and (the “Grant Date”), is between Marathon Patent Group, Inc., a Nevada corporation (the “Company”),
and ________________ (the “Optionee”), a director, officer, employees of, or consultant or advisor to, the Company
or a Subsidiary of the Company (a “Related Corporation”), pursuant to Marathon Patent Group, Inc. 2018 Equity Incentive
Plan (the “Plan”), approved by shareholders at the 2017 Annual Meeting of Shareholders held March 7, 2018.

 

WHEREAS,
the Company desires to give the Optionee the opportunity to purchase shares of common stock of the Company, par value $0.0001
(“Common Shares”) in accordance with the provisions of the Plan, a copy of which is attached hereto;

 

NOW,
THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the
parties hereto, intending to be legally bound hereby, agree as follows:

 

1.
Grant of Option. The Company hereby grants to the Optionee the right and option (the “Option”) to purchase
all or any part of an aggregate of ______________ (_________) Common Shares. The Option is in all respects limited and conditioned
as hereinafter provided, and is subject in all respects to the terms and conditions of the Plan now in effect and as it may be
amended from time to time (but only to the extent that such amendments apply to outstanding options). Such terms and conditions
are incorporated herein by reference, made a part hereof, and shall control in the event of any conflict with any other terms
of this Option Agreement. The Option granted hereunder is intended to be a nonqualified stock option (“NQSO”) and
not an incentive stock option (“ISO”) as such term is defined in section 422 of the Internal Revenue Code of
1986, as amended (the “Code”).

 

2.
Exercise Price. The exercise price of the Common Shares covered by this Option shall be $_____ per share, which was the
closing price of the Common Shares on the Nasdaq Capital Market on ___________ __, 201_.

 

3.
Term. Unless earlier terminated pursuant to any provision of the Plan or of this Option Agreement, this Option shall expire
on ________ __, 20__ (the “Expiration Date”), which date is not more than 10 years from the Grant Date. This Option
shall not be exercisable on or after the Expiration Date.

 

4.
Exercise of Option. The Option shall vest [one-half (1/2) on the date of grant and one-quarter (1/4) following each of
the six-months anniversaries] of the Grant Date, provided that Optionee remains continuously engaged as a director, officer, employee
of, or consultant or advisor to, the Company or a Related Corporation from the date hereof through the applicable vesting date.
The Committee may accelerate any vesting date of the Option, in its discretion, if it deems such acceleration to be desirable.
Once the Option becomes exercisable, it will remain exercisable until it is exercised or until it terminates.

 

5.
Method of Exercising Option. Subject to the terms and conditions of this Option Agreement and the Plan, the Option may
be exercised by written notice to the Company at its principal office. The form of such notice is attached hereto and shall state
the election to exercise the Option and the number of whole shares with respect to which it is being exercised; shall be signed
by the person or persons so exercising the Option; and shall be accompanied by payment of the full exercise price of such shares.
Only full shares will be issued.

 

The
exercise price shall be paid to the Company:

 

(a)
in cash, or by certified check, bank draft, or postal or express money order;

 

(b)
through the delivery of Common Shares previously acquired by the Optionee;

 

(c)
by delivering a properly executed notice of exercise of the Option to the Company and a broker, with irrevocable instructions
to the broker promptly to deliver to the Company the amount necessary to pay the exercise price of the Option;

 

(d)
in Common Shares newly acquired by the Optionee upon exercise of the Option; or

 

(e)
in any combination of (a), (b), (c) or (d) above.

 

In
the event the exercise price is paid, in whole or in part, with Common Shares, the portion of the exercise price so paid shall
be determined in accordance with applicable law and practice.

 

    	 	 	 

    	 

    

 

Upon
receipt of notice of exercise and payment, the Company shall deliver a certificate or certificates representing the Common Shares
with respect to which the Option is so exercised. The Optionee shall obtain the rights of a shareholder upon receipt of a certificate(s)
representing such Common Shares.

 

Such
certificate(s) shall be registered in the name of the person so exercising the Option (or, if the Option is exercised by the Optionee
and if the Optionee so requests in the notice exercising the Option, shall be registered in the name of the Optionee and the Optionee’s
spouse, jointly, with right of survivorship), and shall be delivered as provided above to, or upon the written order of, the person
exercising the Option. In the event the Option is exercised by any person after the death or disability (as determined in accordance
with Section 22(e)(3) of the Code) of the Optionee, the notice shall be accompanied by appropriate proof of the right of such
person to exercise the Option. All Common Shares that are purchased upon exercise of the Option as provided herein shall be fully
paid and non-assessable.

 

Upon
exercise of the Option, Optionee shall be responsible for all employment and income taxes then or thereafter due (whether Federal,
State or local), and if the Optionee does not remit to the Company sufficient cash (or, with the consent of the Committee, Common
Shares) to satisfy all applicable withholding requirements, the Company shall be entitled to satisfy any withholding requirements
for any such tax by disposing of Common Shares at exercise, withholding cash from Optionee’s salary or other compensation
or such other means as the Committee considers appropriate to the fullest extent permitted by applicable law. Nothing in the preceding
sentence shall impair or limit the Company’s rights with respect to satisfying withholding obligations under the Plan.

 

6.
Non-Transferability of Option. This Option is not assignable or transferable, in whole or in part, by the Optionee other
than by will or by the laws of descent and distribution. During the lifetime of the Optionee, the Option shall be exercisable
only by the Optionee or, in the event of his or her disability, by his or her guardian or legal representative.

 

7.
Change in Control. (a) For purposes of this Option Agreement, unless otherwise defined in an agreement between the Company
and the Optionee, a Change in Control shall be deemed to have occurred if:

 

(i)
a tender offer (or series of related offers) shall be made and consummated for the ownership of 50% or more of the
outstanding voting securities of the Company, unless as a result of such tender offer more than 50% of the outstanding voting
securities of the surviving or resulting corporation shall be owned in the aggregate by the stockholders of the Company (as
of the time immediately prior to the commencement of such offer), any employee benefit plan of the Company or its
subsidiaries, and their affiliates;

 

(ii)
the Company shall be merged or consolidated with another corporation, unless as a result of such merger or consolidation more
than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by
the stockholders of the Company (as of the time immediately prior to such transaction), any employee benefit plan of the
Company or its subsidiaries, and their affiliates;

 

(iii)
the Company shall sell substantially all of its assets to another corporation that is not wholly owned by the Company, unless
as a result of such sale more than 50% of such assets shall be owned in the aggregate by the stockholders of the Company (as
of the time immediately prior to such transaction), any employee benefit plan of the Company or its subsidiaries and their
affiliates; or

 

(iv)
a person (as defined below) shall acquire 50% or more of the outstanding voting securities of the Company (whether directly,
indirectly, beneficially or of record), unless as a result of such acquisition more than 50% of the outstanding voting
securities of the surviving or resulting corporation shall be owned in the aggregate by the stockholders of the Company (as
of the time immediately prior to the first acquisition of such securities by such person), any employee benefit plan of the
Company or its subsidiaries, and their affiliates.

 

(b)
If, at any time, the Company shall effect a Change in Control transaction, then, on the date of the occurrence of such Change
in Control transaction, the Option shall immediately vest.

 

(c)
Notwithstanding the foregoing, if Change in Control is defined in an agreement between the Company and the Optionee, then, with
respect to such Optionee and the Option, Change in Control shall have the meaning ascribed to it in such agreement.

 

8.
Termination of Services. If the Optionee’s services with the Company and all Related Corporations are terminated
for any reason (other than death or disability) prior to the Expiration Date, then this Option may be exercised by Optionee, to
the extent of the number of Common Shares with respect to which the Optionee could have exercised it on the date of such termination
of services, at any time prior to the earlier of (i) the Expiration Date, or (ii) two (2) years after such termination of services.
Any part of the Option that was not exercisable immediately before the termination of Optionee’s services shall terminate
at that time.

 

    	 	 	 

    	 

    

 

9.
Disability. If the Optionee becomes disabled (as determined in accordance with section 22(e)(3) of the Code) during the
period of his or her service and, prior to the Expiration Date, the Optionee’s services are terminated as a consequence
of such disability, then this Option may be exercised by the Optionee or by the Optionee’s legal representative, to the
extent of the number of Common Shares with respect to which the Optionee could have exercised it on the date of such termination
of services, at any time prior to the earlier of (i) the Expiration Date or (ii) one year after such termination of services.
Any part of the Option that was not exercisable immediately before the Optionee’s termination of services shall terminate
at that time.

 

10.
Death. If the Optionee dies during the period of his or her services and prior to the Expiration Date, or if the Optionee’s
services are terminated for any reason (as described in Paragraphs 7 and 8) and the Optionee dies following his or her termination
of services but prior to the earliest of (i) the Expiration Date, or (ii) the expiration of the period determined under Paragraph
7 or 8 (as applicable to the Optionee), then this Option may be exercised by the Optionee’s estate, personal representative
or beneficiary who acquired the right to exercise this Option by bequest or inheritance or by reason of the Optionee’s death,
to the extent of the number of Common Shares with respect to which the Optionee could have exercised it on the date of his or
her death, at any time prior to the earlier of (i) the Expiration Date or (ii) one year after the date of the Optionee’s
death. Any part of the Option that was not exercisable immediately before the Optionee’s death shall terminate at that time.

 

11.
Securities Matters. (a) If, at any time, counsel to the Company shall determine that the listing, registration or qualification
of the Common Shares subject to the Option upon any securities exchange or under any state or federal law, or the consent or approval
of any governmental or regulatory body, or that the disclosure of non-public information or the satisfaction of any other condition
is necessary as a condition of, or in connection with, the issuance or purchase of Common Shares hereunder, such Option may not
be exercised, in whole or in part, unless such listing, registration, qualification, consent or approval, or satisfaction of such
condition shall have been effected or obtained on conditions acceptable to the Board of Directors. The Company shall be under
no obligation to apply for or to obtain such listing, registration or qualification, or to satisfy such condition. The Committee
shall inform the Optionee in writing of any decision to defer or prohibit the exercise of an Option. During the period that the
effectiveness of the exercise of an Option has been deferred or prohibited, the Optionee may, by written notice, withdraw the
Optionee’s decision to exercise and obtain a refund of any amount paid with respect thereto.

 

(b)
The Company may require: (i) the Optionee (or any other person exercising the Option in the case of the Optionee’s death
or Disability) as a condition of exercising the Option, to give written assurances, in substance and form satisfactory to the
Company, to the effect that such person is acquiring the Common Shares subject to the Option for his or her own account for investment
and not with any present intention of selling or otherwise distributing the same, and to make such other representations or covenants;
and (ii) that any certificates for Common Shares delivered in connection with the exercise of the Option bear such legends, in
each case as the Company deems necessary or appropriate, in order to comply with federal and applicable state securities laws,
to comply with covenants or representations made by the Company in connection with any public offering of its Common Shares or
otherwise. The Optionee specifically understands and agrees that the Common Shares, if and when issued upon exercise of the Option,
may be “restricted securities,” as that term is defined in Rule 144 under the Securities Act of 1933 and, accordingly,
the Optionee may be required to hold the shares indefinitely unless they are registered under such Securities Act of 1933, as
amended, or an exemption from such registration is available.

 

(c)
The Optionee shall have no rights as a shareholder with respect to any Common Shares covered by the Option (including, without
limitation, any rights to receive dividends or non-cash distributions with respect to such shares) until the date of issue of
a stock certificate to the Optionee for such Common Shares. No adjustment shall be made for dividends or other rights for which
the record date is prior to the date such stock certificate is issued.

 

12.
Governing Law. This Option Agreement shall be governed by the applicable Code provisions to the maximum extent possible.
Otherwise, the laws of the State of Nevada (without reference to the principles of conflict of laws) shall govern the operation
of, and the rights of the Optionee under, the Plan and Options granted thereunder.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Nonqualified Stock Option Agreement as of the ____ day of _________,
201_.

 

	 	MARATHON PATENT GROUP, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	
	 	 	 
	 	 
	 	 	 ,
    Optionee

 

    	 	 	 

    	 

    

 

MARATHON
PATENT GROUP, INC.

2018
EQUITY INCENTIVE PLAN

 

Notice
of Exercise of Nonqualified Stock Option

 

I
hereby exercise the nonqualified stock option granted to me pursuant to the Nonqualified Stock Option Agreement dated as of ________
__, 201_ by Marathon Patent Group, Inc. (the “Company”), with respect to the following number of shares of the Company’s
common stock (“Shares”), par value $0.0001 per Share, covered by said option:

 

	Number
    of Shares to be purchased:	_______
	 	 
	Purchase
    price per Share:	$_______
	 	 
	Total
    purchase price:	$_______

 

	___	A.	Enclosed
    is cash or my certified check, bank draft, or postal or express money order in the amount of $__________ in full/partial [circle
    one] payment for such Shares;

 

and/or

 

	___	B.	Enclosed
    is/are _______ Share(s) with a total fair market value of $_______ on the date hereof in full/partial [circle one]
    payment for such Shares;

 

and/or

 

	___	C.	I
    have provided notice to _________ [ insert name of broker] , a broker, who will render full/partial [circle one]
    payment for such Shares. [Optionee should attach to the notice of exercise provided to such broker a copy of this Notice
    of Exercise and irrevocable instructions to pay to the Company the full exercise price.]

 

and/or

 

	___	D.	I
    elect to satisfy the payment for Shares purchased hereunder by having the Company withhold newly acquired Shares pursuant
    to the exercise of the Option.

 

Please
have the certificate or certificates representing the purchased Shares registered in the following name or names * :
________________________ ; and sent to ___________________________.

 

	DATED:
    ____________ __, 20__	 	 
	 	 	Optionee’s
    Signature

 

 

 

*
Certificates may be registered in the name of the Optionee alone or in the joint names (with right of survivorship) of the
Optionee and his or her spouse.

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