Document:

CONTRIBUTION
AND SALE AGREEMENt

 

by and among

 

GIOIA SYSTEMS, LLC.

 

MGT CAPITAL INVESTMENTS, INC.

 

and

 

MGT INTERACTIVE, LLC

 

August 29, 2013

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	1.	DEFINITIONS, Interpretation	1
	 	 	 
	 	1.1  Definitions	1
	 	1.2  Interpretation	3
	 	 	 
	2	[Reserved]	3
	 	 	 
	3	CONTRIBUTION AND SALE	3
	 	 	 
	 	3.1  Contribution of Patent Rights	3
	 	3.2  Issuance of Ownership Interest to Gioia	3
	 	3.3  Contribution of Cash	3
	 	3.4  Company Governance	4
	 	3.5  Certification	4
	 	3.6  Contingent Consideration	4
	 	3.7  Commercialization Expenses	4
	 	3.8  Claw Back	4
	 	3.9  Contingent Royalty Payments	5
	 	 	 
	4	CLOSING	5
	 	 	 
	 	4.1  Closing	5
	 	4.2  Conditions to Closing	5
	 	4.3  Closing Deliverables and Actions	6
	 	4.4  Effect of Closing	7
	 	 	 
	5	REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY	6
	 	 	 
	 	5.1  Formation; Authority	6
	 	5.2  Execution; Validity of Agreements; Due Authorization	6
	 	5.3  Consents and Approvals; No Violations	6
	 	5.4  Ownership	7
	 	 	 
	6	REPRESENTATIONS AND WARRANTIES REGARDING GIOIA AND THE PATENT RIGHTS	7
	 	 	 
	 	6.1  Formation; Authority	7
	 	6.2  Execution; Validity of Agreement; Due Authorization	7
	 	6.3  Consents and Approvals; No Violations	7
	 	6.4  Title to Condition of Physical Assets	7
	 	6.5  Patent Rights	7
	 	6.6  Complementary Assets	9

 

    	 

    	 

    

 

	 	6.7  Litigation	9
	 	6.8  Bankruptcy	9
	 	6.9  Consents and Approvals	9
	 	6.10  Broker’s Fee	9
	 	6.11  Material Disclosure; No Omission	9
	 	 	 
	7	REPRESENTATIONS AND WARRANTIES OF MTG	9
	 	 	 
	 	7.1  Organization	9
	 	7.2  No Conflicts	9
	 	7.3  Due Authorization and Binding Effect	9
	 	 	 
	8	SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS; INDEMNIFICATION 	10
	 	 	 
	 	8.1  Survival of Representations, Warranties and Covenants	10
	 	8.2  Indemnification Obligations of Gioia	10
	 	8.3  Notification of Claims	10
	 	8.4  Investigation	10
	 	8.5  Third-Party Claims	10
	 	 	 
	9	MISCELANEOUS	11
	 	 	 
	 	9.1  Notices	11
	 	9.2  Entire Agreement	11
	 	9.3  Further Assurances	11
	 	9.4  Governing Law; Consent to Jurisdiction	12
	 	9.5  Binding Effect	12
	 	9.6  Waivers and Amendments	12
	 	9.7  Recitals, Exhibits and Schedules	12
	 	9.8  Headings	12
	 	9.9  Severability	12
	 	9.10  Specific Performance	12
	 	9.11  Fees and Expenses	13
	 	9.12  Legal Representations of the Parties	13
	 	9.13  Payment of Transfer Costs and Expenses	13
	 	9.14  Public Announcement	13
	 	9.15  Confidentiality	13
	 	9.16  No Third Party Beneficiaries	13
	 	9.17  Counterparts; Signatures	13
	 	 	 
	 	EXHIBITS:	 

 

	A.	ASSETS
	B.	PATENTS
	C.	PATENT ASSIGNMENT
	D.	SCHEDULES

 

    	 

    	 

    

 

CONTRIBUTION AND SALE AGREEMENT

 

CONTRIBUTION AND
SALE AGREEMENT (this “Agreement”) is dated August 26, 2013, by and among
Gioia Systems, LLC, a limited liability company formed under the laws of the State of Colorado (“Gioia”), MGT
Capital Investments, Inc., a Delaware corporation (“MGT”) and MGT Interactive, LLC, a Delaware limited liability
company (the “Company”), and together with Gioia and MGT, the “Parties”).

 

RECITALS

 

WHEREAS, Gioia owns and controls certain physical and
intellectual property assets as described and set forth on Exhibit A hereto (hereinafter referred to as the “Assets”)
associated with Real Deal Poker, a system conceived and developed by Gioia to be used as a poker gaming platform to be used principally
in online poker, including mobile applications (the “Game”), including the Patent Rights as described and set
forth on Exhibit B hereto (hereinafter referred to as the “Patents”);

 

WHEREAS, Gioia is the
owner of the Assets and is willing to contribute the Assets to the Company (the “Contribution”) in exchange
for a 49% ownership interest in the Company of the Company determined as set forth herein; and,

 

WHEREAS, MGT will own
a 51% ownership interest in the Company in exchange for a contribution to the equity capital of the Company by MGT of $200,000
(“Contribution of Cash”); upon the terms and subject to the conditions described in Section 3.3; and,

 

WHEREAS, MGT will have
the option to purchase an additional 14% ownership interest in the Company from Gioia upon the terms and subject to the conditions
described in Section 3.6

 

NOW, THEREFORE, in
consideration of the promises, covenants and other agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

 

 

1.        DEFINITIONS;
INTERPRETATION.

 

1.1       Definitions.
For purposes of this Agreement, the following terms are defined as follows:

 

“Action”
means any action (including declaratory judgment actions), suit, litigation, controversy, mediation, hearing, claim, charge, complaint,
arbitration, reexamination, interference, reissue, investigation, pending inquiry, audit or other proceeding at law or in equity
or of, in, by or before any Governmental Authority, mediator or arbitrator.

 

“Affiliate”
means, with respect to any Person, a Person that directly or indirectly through one or more intermediaries, controls, is controlled
by, or is under common control with such Person; and “control” (including the terms “controlled by”
and “under common control with”) shall mean the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract
or otherwise.

 

“Applicable
Law” means, with respect to any Person, any federal, state, local, municipal, foreign or other Law, enacted, adopted,
passed, approved, promulgated, made, implemented or otherwise put into effect, in each case as of the date of this Agreement, by
any Governmental Authority that applies to such Person, its business and its properties.

 

“Consents”
means the consents of any third parties or any Governmental Authorities necessary to transfer the Patent Rights to the Company
or to otherwise consummate the transactions contemplated by this Agreement.

 

    	1

    	 

    

 

“Governmental
Authority” means any court, tribunal, arbitrator, authority, agency, commission, official or other instrumentality of
the United States, any foreign country or any domestic or foreign state, county, city or other political subdivision or similar
governing entity.

 

“Governmental
Order” means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any
Governmental Authority.

 

“Knowledge”
or words of similar import (e.g. “knowledge,” “known,” or “aware”) with respect to any individual,
shall mean the actual knowledge of such individual; as well as the knowledge that such individual should have after reasonable
inquiry.

 

“Laws”
means all laws, statutes, rules, regulations, ordinances and orders of any Governmental Authority.

 

“Lien”
means any mortgage, lien, claim, pledge, charge, security interest, preemptive right, right of first refusal, option, judgment,
restriction or encumbrance of any kind, or any exceptions, reservations, restrictions, rights-of-way, easements or other matters
affecting title, whether arising by contract, law or otherwise.

 

“Material
Adverse Effect” means any change, event, violation, inaccuracy, circumstance or effect that, individually or taken together
with all other effects, is, or is reasonably likely to, be or become materially adverse in relation to the value, validity, effectiveness
or enjoyment of the Assets including the Patent Rights.

 

“Patent Assignment”
means the assignment by Gioia of all right, title and interest in the Patent Rights to the Company in the form attached hereto
as Exhibit C.

 

“Patent Rights”
means (a) the Patents; (b) any and all other rights, priorities and privileges of Gioia provided under United States, state, foreign
or multinational law with respect to the Patents; (c) any and all rights to obtain renewals, extensions, re-issues, continuations,
continuations-in-part, re-examinations, divisions, certificates of correction, maintenance fees or other legal protections or foreign
equivalents thereof that may be obtained pertaining to the Patents; and (d) any and all past, present and future rights to sue
at law or in equity, whether currently pending, filed or otherwise, for any infringement, misappropriation, impairment or other
alleged unauthorized use or conduct in connection with the Patents occurring prior to or after the Closing Date, including the
rights to pursue damages and injunctive relief and receive all past, present, and future proceeds, royalties or damages therefrom. 

 

“Patents”
means those specific patents listed on Exhibit B and any registrations thereof, patents granted thereon or patents issuing
therefrom (including all reissues, divisionals, continuations, continuations-in-part, extensions and re-examinations thereof),
patents issuing from parent applications thereof, and any foreign counterparts or equivalents to any of the foregoing, in each
case, regardless of whether or not any of the foregoing are pending applications or issued patents as of the Closing Date, the
same to be held by and enjoyed by Company to the full end of the term for which said patents are granted, as fully and entirely
as the same could have been held and enjoyed by Gioia if this transaction had not been made.

 

“Person”
means and includes any individual, partnership, corporation, limited liability company, association, joint stock company, trust,
joint venture, unincorporated organization or any Governmental Authority or any department, agency or political subdivision thereof.

 

“Prosecution
History Files” means all documents in Gioia’s custody that are in Gioia’s files or the files of its agent(s)
that relate to the prosecution of patent applications relating to the Patents and that were filed with or received from any patent
office

 

“Transaction
Agreements” shall mean and include this Agreement and the Patent Assignment.

  

    	2

    	 

    

 

The following terms
are defined in the following sections of this Agreement:

  

	Term	Section
	 	 
	Assets	Recital
	Cash Payment	Recital
	Closing	4.1
	Closing Date	4.1
	Company	Preamble
	Contingent Consideration	3.6
	Contingent Royalty Payment	3.9
	Contribution	Recitals
	Game	Recital
	Gioia	Preamble
	GLI	3.6
	GLI Certification	3.6
	Gross Rake	3.9
	Indemnification Notice	9.3
	Indemnifying Party	9.3
	Indemnitees	9.2
	Losses	9.2
	Net Revenue	3.9
	Operating Agreement	3.4
	Patents	Recital
	Parties	Preamble
	Purchase Period	3.6
	R&D Sponsor	6.5(e)
	Securities Act	3.8(b)
	Standards Body	6.5(e)
	Third Party Claim	9.5

 

1.2       Interpretation.
Unless the context otherwise requires, the terms defined in Section 1.1 shall have the meanings herein specified for
all purposes of this Agreement, applicable to both the singular and plural forms of any of the terms defined herein. Whenever the
words “include,” “includes” or “including” are used in this Agreement, they shall be deemed
to be followed by the words “without limitation.” The use of the neuter gender herein shall be deemed to include the
masculine and feminine genders wherever necessary or appropriate, the use of the masculine gender herein shall be deemed to include
the neuter and feminine gender wherever necessary or appropriate and the use of the feminine gender herein shall be deemed to include
the neuter and masculine genders wherever necessary or appropriate.

 

2.       [RESERVED]

 

3.       CONTRIBUTION
AND SALE.

 

3.1       Contribution
of Assets and Patent Rights. Upon the terms and subject to the conditions set forth herein, effective as of the Closing, Gioia
hereby irrevocably sells, assigns, grants, transfers and delivers to the Company and its successors and assigns, and the Company
hereby accepts, free and clear of all Liens whatsoever, (i) all of the right, title and interest of Gioia in and to the Assets,
including the Patent Rights and (ii) all causes of action and enforcement rights whether currently pending, filed or otherwise
for the Patents, including all rights to pursue damages, injunctive relief and all other remedies for past, current and future
infringement of the Patents. Concurrent with its execution of this Agreement, Gioia shall execute and deliver to the Company the
Patent Assignment attached as Exhibit C.

 

3.2       Issuance
of Ownership Interest to Gioia. At the Closing, in consideration for the Contribution described in Section 3.1 above,
the Company shall issue to Gioia 49% ownership interest of the Company on the date hereof and subject to reduction or adjustment
as set forth herein.

 

3.3       Contribution
of Cash. Upon the terms and subject to the conditions set forth herein, MGT hereby irrevocably agrees to contribute the Cash
Payment of $200,000 to the Company as working capital, which shall be used to cover the direct and associated costs of the Company
and Company approved costs of Gioia relating to the achievement of GLI Certification (as defined below) in consideration for a
51% ownership interest of the Company.

 

    	3

    	 

    

 

3.4        Company
Governance. Simultaneously with the execution of this Agreement, the Parties will enter into a Limited Liability Company Operating
Agreement (the “Operating Agreement”) that will govern the operations of the Company and enumerated the various
rights and obligations of each party.

 

3.5       Certification.
MGT and Gioia agree that they will use their best efforts to cause the Company and the Company agrees to use its best effort to
prepare and, as soon as practicable, but in no event later than exhausting the Cash Payment, to achieve certification of the Game
(“GLI Certification”) from Gaming Laboratories International (“GLI”), pursuant to Standard
Series GLI-19, Version 2.0. The Company will pay for any and all costs and charges in connection with obtaining the GLI Certification
from the working capital contributed to the Company by MGT pursuant to Section 3.3 hereof, but not to exceed $200,000. Gioia
agrees that it shall work with and cooperate with MGT and the Company to obtain the GLI Certification and shall make available
present and past employees. Gioia shall make available to MGT, the Company, and GLI any and all materials which may be used or
useful by MGT, the Company, and/or GLI in obtaining the GLI Certification, including, but not limited to, files, software, and
source codes related to the Game. Furthermore, Gioia will permit and cooperate with MGT and the Company to make such changes to
the Game. The failure by Gioia to cooperate and provide the materials set forth above shall be deemed a material breach of this
Agreement.

 

3.6       Contingent
Consideration. MGT hereby agrees that prior to the 60th calendar day after obtaining the GLI Certification as specified
in Section 3.5 (the “Purchase Period”), MGT shall, upon 10 days’ written notice to Gioia (the “Purchase
Notice”), purchase from Gioia and Gioia will sell to MGT 14% of the ownership interest of the Company for a purchase
price of $300,000 (“Contingent Consideration”), payable in cash on the date specified by MGT in the above referenced
notice, and Gioia agrees to sell to MGT 14% of the ownership interest of the Company, free of all liens and encumbrances and otherwise
on such terms and at such time as set forth in this Agreement and the above referenced notice, to MGT. After giving effect to the
acquisition by MGT of 14% of the ownership interest of the Company, Gioia shall hold 35% of the ownership interest of the Company
and MGT shall hold 65% of the ownership interest of the Company.

 

Anything herein to
the contrary notwithstanding, within 3 days of receipt of the Purchase Notice, Gioia may notify the Company in writing that it
is opting out of the sale of the above referenced 14% of the ownership interest of the Company and is not accepting the Contingent
Consideration. Further, if Gioia sells 14% of the ownership interest of the Company and accepts the Contingent Consideration, at
any time during the period that is three years from the date of the Purchase Notice, Gioia shall have the right to notify the Company
in writing that it is repurchasing all but not less than all 14% of the ownership interest of the Company for $500,000. Such $500,000
must be paid to the Company simultaneously with Gioia’ s notice that it intends to repurchase all 14% of the ownership interest
of the Company.

 

3.7       Commercialization
Expenses. During the two-year period following the receipt of GLI certification, the Company agrees to expend a minimum of
$1,200,000 (One million two hundred thousand dollars) for operating costs (the “Commercialization Amount”) towards
the commercialization of the Game, which commercialization can take whatever form or promotion or advertising the Company, in its
sole discretion deems appropriate.

 

In the event that the
Company shall fail to pay or make available the Commercialization Amount as set forth in the immediately preceding paragraph, then
Gioia shall have the right to repurchase all but not less than all of the then current ownership of MGT in the Company within 90
days of the end of the two year period described above for the aggregate amount of MGT’s total investment in the Company.

 

3.8       Claw
Back. In the event that the Company is denied or otherwise does not receive GLI Certification for the Game as specified in
Section 3.5 before the expiration of the Purchase Period and upon written demand from MGT, Gioia shall, within 10 calendar
days of such written demand from MGT, (i) repurchase the Assets in exchange for the return of the $200,000 contribution made by
MGT; provided, however, if on such expiration date GLI shall be processing and/or reviewing the Game for certification,
such repurchase period shall be extended 30 calendar days, or (ii) forfeit all the ownership interest of the Company held by Gioia
as of the expiration of the Purchase Period to MGT. In such event, MGT shall own 100% of the ownership of the Company.

 

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3.9       Contingent
Royalty Payments.  Unless Gioia repurchases the Assets or forfeits its ownership interest of the Company upon either of the
occurrences of Section 3.8 above, Gioia shall be entitled to receive from the Company the following royalty payments conditioned
upon attainment of certain Net Revenue (as defined below) targets: (i) One percent (1.0%) of all Net Revenue exceeding $50 million;
plus, (ii) One percent (1.0%) of all Net Revenue exceeding $100 million; plus, (iii) One percent (1.0%) of all Net Revenue exceeding
$150 million; plus, (iv) One percent (1.0%) of all Net Revenue exceeding $200 million; plus, (v) One percent (1.0%) of all Net
Revenue exceeding $250 million.

 

Net Revenue is
defined as Gross Rake payments received by the Company, minus all payments made to partners and affiliates, and prior to operating
costs of the Company. Net Revenue also includes license and royalty income paid to the Company for use of its technology. Gross
Rake is defined as the total cash wagers of all players minus the total payouts to winning players.

 

4.       CLOSING.

 

4.1       Closing.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place upon execution
of this Agreement (the “Closing Date”). The Closing shall take place at the offices of Sichenzia Ross Friedman
and Ference, 61 Broadway, New York, NY 10006 or at such other location as the Parties hereto agree.

 

4.2       Conditions
to Closing.

 

(a)       Conditions
to Obligations of Each Party to Effect the Contribution and Sale. The respective obligations of each Party hereto to consummate
the transactions contemplated hereby shall be subject to the satisfaction at or prior to the Closing of each of the following conditions:

 

(i)       No
temporary restraining order, preliminary or permanent injunction or other order issued by any court of competent jurisdiction or
other legal or regulatory restraint or prohibition preventing the consummation of the transactions contemplated herein shall be
in effect, nor shall any action have been taken by any Governmental Authority seeking any of the foregoing, and no statute, rule,
regulation or order shall have been enacted, entered, enforced or deemed applicable to the transactions contemplated herein, which
makes the consummation of such transaction illegal.

 

(b)       Additional
Conditions to Obligations of Gioia. The obligations of Gioia to consummate the transactions contemplated hereby shall be subject
to the satisfaction at or prior to the Closing of each of the following conditions (it being understood that each such condition
is solely for the benefit of Gioia and may be waived by Gioia in writing in its sole discretion without notice, liability or obligation
to any Person):

 

(i)       The
representations and warranties of MGT in this Agreement shall be true and correct in all material respects (except for such representations
and warranties that are qualified by their terms by a reference to materiality, which representations and warranties as so qualified
shall be true and correct in all respects) on and as of the Closing Date (except for representations and warranties which address
matters only as to a specified date, which representations and warranties shall be true and correct with respect to such specified
date). MGT shall have performed and complied in all material respects with all covenants, obligations and conditions of this Agreement
required to be performed and complied with by it at or prior to the Closing.

 

(ii)       Gioia
shall have received each of the deliveries required to be made by MGT and the Company to Gioia pursuant to Section 4.3.

 

(c)       Additional
Conditions to Obligations of MGT. The obligations of MGT to consummate the transactions contemplated hereby shall be subject
to the satisfaction at or prior to the Closing of each of the following conditions (it being understood that each such condition
is solely for the benefit of MGT and may be waived by MGT in writing in its sole discretion without notice, liability or obligation
to any Person):

 

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(i)       The
representations and warranties of Gioia in this Agreement shall be true and correct in all material respects (except for such representations
and warranties that are qualified by their terms by a reference to materiality, which representations and warranties as so qualified
shall be true and correct in all respects) on and as of the Closing (except for representations and warranties which address matters
only as to a specified date, which representations and warranties shall be true and correct with respect to such specified date).
Gioia shall have performed and complied in all material respects with all covenants, obligations and conditions of this Agreement
required to be performed and complied with by it at or prior to the Closing.

 

(ii)       MGT
shall have received each of the deliveries required to be made by Gioia and the Company to MGT pursuant to Section 4.3.

  

4.3       Closing
Deliverables and Actions. At the Closing:

 

(a)       Gioia
shall execute and deliver to MGT and the Company a certificate dated as of the date hereof, executed on behalf of Gioia by its
President, to the effect that (i) the representations and warranties of Gioia provided in Article 6 are true and correct;

 

(b)       Gioia
shall execute and deliver to the Company the Patent Assignment and evidence that all required Consents, if any, have been obtained;

 

(c)       MGT
shall deliver to Gioia a certificate of formation from the Secretary of State of the State of Delaware evidencing the legal existence
of the Company;

 

(d)       
Gioia shall deliver, cause to be delivered, or make available in a manner satisfactory to the Company, the Prosecution History
Files to the Company.

 

4.4       Effect
of Closing. All transactions contemplated herein and by the other Transaction Agreements to occur on and as of the Closing
Date shall be deemed to have occurred simultaneously and to be effective as of the close of business on the Closing Date; provided,
however, that none of such transactions shall be deemed to have occurred unless and until all of the conditions to closing
described in Section 4.2 and each of the deliverables and actions referenced in Section 4.3 shall have been delivered
and taken in accordance therewith.

 

5.       REPRESENTATIONS
AND WARRANTIES REGARDING THE COMPANY. The Company hereby represents and warrants to Gioia as follows:

 

5.1       Formation;
Authority. The Company (i) is a duly formed and validly existing limited liability company in good standing under the laws
of the State of Delaware and is duly qualified as a foreign corporation in any other jurisdiction in which it does business; and
(ii) has all requisite power and authority to own, lease and operate the Patent Rights and to carry on its business as presently
contemplated and to execute, deliver and perform its obligations under this Agreement and each other Transaction Agreement to which
the Company is a party.

  

5.2       Execution;
Validity of Agreement; Due Authorization. This Agreement and each other Transaction Agreement to which the Company is a party
has been duly executed and delivered by the Company and this Agreement and each other Transaction Agreement to which the Company
is a party constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with
its respective terms. The execution and delivery of this Agreement by the Company and the performance by the Company of its obligations
hereunder have been duly authorized by all necessary corporate action on the part of the Company.

 

5.3       Consents
and Approvals; No Violations. Except as set forth in Schedule 5.3, none of the execution, delivery or performance of
this Agreement or any other Transaction Agreement by the Company, the consummation by the Company of the transactions contemplated
hereby or thereby, or the compliance by the Company with any of the provisions hereof or thereof will (a) require (i) any filing
with or notice to any Governmental Authority or other Person, (ii) the obtaining of any Permit or (iii) the expiration or termination
of any statutory or regulatory waiting period, (b) result in a violation or breach of, or constitute (with or without due notice
or lapse of time or both) a default (or give rise to any right of termination, amendment, cancellation or acceleration or require
any payment) under, any of the terms, conditions or provisions of any material note, bond, mortgage, indenture, lease, license,
contract, agreement or other instrument or obligation to which the Company is a party or by which the Company or any of the Company’s
properties or assets is bound, (c) violate any Applicable Laws, or (d) result in the creation of any Lien upon any of the Patent
Rights.

 

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5.4       Ownership.
No equity or profits interests in the Company have been issued to any Person, other than the issuance of the ownership interest
contemplated herein.

 

6.       REPRESENTATIONS
AND WARRANTIES REGARDING GIOIA AND THE PATENT RIGHTS. Gioia hereby represents and warrants to the Company and MGT as follows,
and the Company and MGT, in agreeing to consummate the transactions contemplated by this Agreement, have relied upon such representations
and warranties:

 

6.1       Formation;
Authority. Gioia (i) is a duly formed and validly existing limited liability company in good standing under the laws of the
State of Colorado and is duly qualified as a foreign company in any other jurisdiction in which it does business; and (ii) has
all requisite power and authority to own, lease and operate its property and to carry on its business as presently conducted and
to execute, deliver and perform its obligations under this Agreement and each other Transaction Agreement to which Gioia is a party.
A true and correct copy of the articles of organization of Gioia, as amended to date, has been delivered to MGT and is in full
force and effect as of the date hereof.

 

6.2       Execution;
Validity of Agreement; Due Authorization. This Agreement and each other Transaction Agreement to which Gioia is a party has
been duly executed and delivered by Gioia and this Agreement and each other Transaction Agreement to which Gioia is a party constitutes
a legal, valid and binding obligation of Gioia, enforceable against Gioia in accordance with their respective terms. The execution
and delivery of this Agreement by Gioia and the performance by Gioia of its obligations hereunder have been duly authorized by
all necessary corporate action on the part of Gioia, including, but not limited to, approval of the members of Gioia.

 

6.3       Consents
and Approvals; No Violations. None of the execution, delivery or performance of this Agreement or any other Transaction Agreement
by Gioia, the consummation by Gioia of the transactions contemplated hereby or thereby, or the compliance by Gioia with any of
the provisions hereof or thereof will (a) require (i) any filing with or notice to any Governmental Authority or other Person,
(ii) the obtaining of any Permit or (iii) the expiration or termination of any statutory or regulatory waiting period, (b) result
in a violation or breach of, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any
right of termination, amendment, cancellation or acceleration or require any payment) under, any of the terms, conditions or provisions
of (i) the operating agreement of Gioia or any agreement between Gioia and its member(s) or (ii) any material note, bond, mortgage,
indenture, lease, license, contract, agreement or other instrument or obligation to which Gioia is a party or by which Gioia or
any of Gioia’s properties or assets is bound, (c) violate any Applicable Laws, or (d) result in the creation of any Lien
upon any of the Patent Rights. 

 

6.4       Title
to and Condition of Physical Assets. Gioia has good, clean, and marketable title to its interest in the physical assets contributed
to the Company and such physical assets are in good condition.

 

6.5       Patent
Rights. Prior to giving effect to the transactions contemplated herein

 

(a)       Gioia
is the exclusive, true and lawful owner of all right, title, and interest in and to the Patent Rights, including all right, title
and interest to sue for infringement thereof and to grant the assignments provided for under this Agreement, and Gioia has good
and valid title to the Patent Rights. The Patent Rights are free and clear of any Liens, licenses or other encumbrances and no
rights, licenses, covenants not to sue or similar rights have been granted under the Patents. Other than the transfer of the Patent
Rights to Gioia, neither Gioia nor the inventors have transferred or attempted to transfer any of the Patent Rights to any Person.

 

    	7

    	 

    

 

(b)       The
Patents are (i) valid, subsisting and enforceable, (ii) in compliance with any and all formal legal requirements necessary to maintain
the validity and enforceability thereof, (iii) not subject to any outstanding Governmental Order adversely affecting Gioia’s
use thereof or rights thereto, or that would impair the validity or enforceability thereof, and (iv) in compliance with any and
all formal legal requirements necessary to record and perfect Gioia’s interest therein and the chain of title thereof. None
of the Patents is abandoned and all annuities, application fees, maintenance fees and all and any other applicable fees for the
Patents have been timely paid and any Actions have been responded to in a manner so as to prevent abandonment or lapse. Gioia has
complied with its duty of candor and disclosure to the United States Patent and Trademark Office and any other applicable Governmental
Authority with respect to all applications for registration included in the Patents and neither Gioia nor the inventors have made
any material misrepresentations in any such applications. In the event that either the Company or MGT pays any annuities, application
fees, maintenance fees and all and any other applicable fees for the Patents and takes any Actions in a manner so as to prevent
abandonment or lapse, the amount of such any annuities, application fees, maintenance fees and all and any other applicable fees
and the cost associated with such Actions shall be deducted from the $300,000 purchase price payable to Gioia pursuant to Section
3.6.

 

(c)       The
Patents have not been the subject of any Action and there is no Action pending, asserted or threatened (i) by or against Gioia
concerning the ownership, validity, registerability, enforceability or use of, misappropriation, infringement or licensed right
to use, any of the Patents, or (ii) contesting or challenging the ownership, validity, registerability, enforceability or use of,
misappropriation, infringement or Gioia’s or any of its customers’ right to use, any of the Patents, and Gioia has
received no notice asserting that the Patents are invalid or unenforceable. Gioia has received no notice asserting infringement
of any of the Patents by third parties, and has not notified any third party of actual or potential infringement of any of the
Patents.

 

(d)       No
inventor of the Patents is in default or breach of any term of any employment agreement, non-disclosure agreement, assignment of
invention agreement or similar agreement relating to the protection, ownership, development, use or transfer of the Patents. To
the extent that any Patent has been conceived, developed or created for Gioia by any other Person, Gioia has executed valid and
enforceable written agreements with such Person with respect thereto transferring to Gioia the entire right, title and interest
therein and thereto by operation of law or by valid written assignment.

 

(e)       No
university, military, educational institution or Governmental Authority (each, a “R&D Sponsor”) has funded
or sponsored any research and development conducted in connection with the Patents, or has any claim of right to, ownership of
or other lien on any of the foregoing. No research and development conducted in connection with the Patents was performed by a
student or employee of any R&D Sponsor such that any such R&D Sponsor has any claim of right to, ownership of or other
Lien on any of the foregoing. Gioia has not participated in any standards-setting activities or joined any standards setting, intellectual
property sharing, or similar organization (a “Standards Body”) that would affect the proprietary nature of any
of the Patents, or restrict the ability of Gioia to enforce, license or exclude others from using any of the Patents, and there
is no obligation imposed by a Standards Body to license any of the Patents on particular terms or conditions.

 

(f)       There
are no inventors of the Patent Rights other than Gioia. There are no asserted or unasserted claims of ownership of the Patent Rights
by any Person other than Gioia.

 

(g)       Gioia,
its Affiliates, employees, assignors, licensors, or legal counsel did not fail to disclose or mischaracterize any known prior art
or commit any other conduct, that constitutes inequitable conduct or renders the Patents unenforceable. There is no prior art or
any conduct of Gioia relevant to patentability that has not been or was not considered during the examination of the Patents.

 

(h)       Gioia
has marked in accordance with 35 U.S.C. 287(a) all of its products and services covered by the claims of the Patents by listing
the relevant patent numbers within its general online terms of service.

 

(i)       All
documents, agreements, prototypes, models, product samples, books, notebooks, certificates, licenses, files and any other diligence
materials that Gioia has provided to the Company in connection with the Company’s evaluation of the Patents are true, correct
and complete originals (if originals were provided by Gioia) or copies of such materials.

 

    	8

    	 

    

 

(j)       Gioia
has delivered to the Company true and complete copies of (i) the names and addresses of counsel who prosecuted the Patents and
who are handling the Patents; (ii) the Prosecution History Files, and (iii) copies of executed originals of all agreements assigning
ownership of the Patent Rights from Gioia and/or prior owners to Gioia as filed with the United States Patent and Trademark Office.

 

6.6      Complementary
Assets. Other than the transfer of the Assets to the Company, Gioia has not transferred or attempted to transfer any assets
related or complementary to the Game to any Person.

 

6.7      Litigation.
Except as set forth on Schedule 6.7 hereto, there are no actions, lawsuits, judgments, claims, investigations or legal or
administrative proceedings, pending or threatened against Gioia. There is no judgment, order, injunction, decree or award (whether
rendered by a court, administrative agency or by arbitration) to which Gioia is a party.

 

6.8      Bankruptcy.
None of Gioia or any Affiliate of Gioia has committed or currently intends to commit any act of bankruptcy, is insolvent, has proposed
or currently intends to propose a compromise or arrangement to its creditors generally, has had or currently intends to have any
petition for a receiving order in bankruptcy filed against it, has made or currently intends to make a voluntary assignment in
bankruptcy, has initiated or currently intends to initiate any proceeding with respect to a compromise or arrangement, has initiated
or intends to initiate any proceeding to have itself declared bankrupt or wound-up, has initiated or intends to initiate any proceeding
to have a receiver appointed to any part of its assets, has had any creditor take or currently anticipates that any creditor will
take possession of any of its property, or has had any of the foregoing become enforceable or currently anticipates that any of
the foregoing will become enforceable upon any of its property or the Patent Rights.

 

6.9       Consents
and Approvals. No Consents or notices to, or filings, registrations, or qualifications with any Person or Governmental Authority
and no Consents or waivers from, or notices to, any other party are required for the consummation by Gioia of the transactions
contemplated by this Agreement and the other Transaction Agreements.

 

6.10      Broker’s
Fee. No agent, broker, investment banker, firm, or other Person, acting on behalf of Gioia or any of its Affiliates, or under
the authority of Gioia or any of its Affiliates, is or will be entitled to any broker’s or finder’s fee or any other
commission or similar fee or expense, directly or indirectly, in connection with any of the transactions contemplated by this Agreement
or any of the other Transaction Agreements.

 

6.11       Material
Disclosure; No Omission. No representation or warranty of Gioia contained in this Agreement or in any other Transaction Agreement
and no statement by or on behalf of Gioia contained in any exhibit, certificate, schedule, attachment or other instrument specified
in this Agreement or in any other Transaction Agreement contains any untrue statement of a material fact or omits to state any
material fact necessary to make the statements contained herein or therein not misleading.

 

7.       REPRESENTATIONS
AND WARRANTIES OF MGT. MGT hereby represents and warrants to Gioia as follows:

 

7.1       Organization.
MGT is a duly organized and validly existing corporation in good standing under the laws of the State of Delaware.

 

7.2       No
Conflicts. Neither the execution and delivery of this Agreement and each other Transaction Agreement to which MGT is a party,
nor the performance by MGT of its obligations hereunder and thereunder will: (i) constitute a violation of any Applicable Law;
(ii) violate or breach MGT’s certificate of incorporation or bylaws, in each case as amended to date; or (iii) violate any
order, writ, injunction or decree applicable to MGT.

 

7.3       Due
Authorization and Binding Effect. The execution and delivery of this Agreement by MGT and the performance by MGT of its obligations
hereunder have been duly authorized by all necessary corporate action on the part of MGT. This Agreement and each other Transaction
Agreement to which MGT is a party has been duly executed and delivered by MGT and constitutes the legal and binding obligation
of MGT enforceable against it in accordance with their respective terms.

 

    	9

    	 

    

 

8.       SURVIVAL
OF REPRESENTATIONS, WARRANTIES AND COVENANTS; INDEMNIFICATION.

 

8.1       Survival
of Representations, Warranties and Covenants. Each statement contained in any exhibit, schedule, or certificate delivered pursuant
to this Agreement constitutes a representation and warranty by the Person who delivered it or on whose behalf it was delivered.
All representations and warranties set forth or made in this Agreement and any other Transaction Agreement shall survive the Closing
indefinitely. All covenants and agreements of the Parties set forth in this Agreement and the other Transaction Agreements to be
performed after the Closing shall survive the Closing in accordance with their respective terms. Any claim pending on the expiration
date of any applicable survival period for which a notification of claim has been made pursuant to Section 8.3 below
on or before such expiration date may continue to be asserted and indemnified against until finally resolved.

 

8.2       Indemnification
Obligations of Gioia. Gioia agrees to indemnify, defend and hold harmless MGT and the Company and their respective shareholders,
officers, directors, managers, representatives, agents, employees and Affiliates (collectively, the “Indemnitees”)
from and against any claim, suit, action, liability, loss, damage, deficiency, fee, cost or expense of any nature whatsoever (including,
without limitation, any diminution in value of any ownership interest and any interest, penalties, investigation expenses and fees
through trial and appeals, and disbursements of counsel and accountants, but excluding incidental, consequential, special, or punitive
and treble damages) (collectively, “Losses”) arising out of, based upon or resulting from: (i) the breach of
any representation or warranty of Gioia which is contained in this Agreement, any other Transaction Agreement or any exhibits or
schedules hereto or thereto; (ii) any breach or failure to perform any of the covenants, agreements or undertakings of Gioia contained
in this Agreement, any other Transaction Agreement or any exhibit or schedule hereto or thereto; (iii) the matters set forth on
any Schedules delivered pursuant to Article 6 hereof; (iv) any and all costs and expenses (including reasonable legal
and accounting fees) incident to the enforcement of the indemnification rights of the Indemnitees under this Section 8.2.

 

8.3       Notification
of Claims. In the event that any Party asserts a claim for indemnification hereunder, such Party shall (a) provide the indemnifying
Party (“Indemnifying Party”) with prompt written notice of the nature of such claim (an “Indemnification
Notice”), (b) make available to the Indemnifying Party all relevant information which is material to the claim and which
is in the possession of the Indemnitee and (c) otherwise reasonably cooperate with the Indemnifying Party with respect to such
claim; provided, however, that the failure of an Indemnitee to deliver an Indemnification Notice under this Section
8.3 shall not relieve the Indemnifying Party of its indemnification obligations under this Section 8 unless
and only to the extent that such Indemnifying Party is materially prejudiced by such failure.

 

8.4       Investigation.
The right to indemnification, payment of Losses or any other remedy based on the representations, warranties and the covenants
hereunder will not be affected by any investigation conducted with respect to, or any knowledge acquired, or capable of being acquired
at any time, whether before or after the Closing Date, with respect to the accuracy or inaccuracy of, or compliance with, any such
representation, warranty or covenant. Furthermore, no information or knowledge obtained in any investigation pursuant this Agreement
or any other Transaction Agreement shall affect or be deemed to modify any representation, warranty or covenant contained herein
or therein.

 

8.5       Third-Party
Claims.       The obligations and liabilities of an Indemnifying Party under this Section
8, with respect to Losses resulting from a claim brought by any third party (a “Third-Party Claim”) shall
be subject to the following terms and conditions:

 

    	10

    	 

    

 

(a)       Promptly
after delivery of an Indemnification Notice in respect of a Third-Party Claim, the Indemnifying Party may elect, by written notice
to the Indemnitee within ten (10) days of an Indemnification Notice, to undertake the investigation and defense thereof with counsel
reasonably satisfactory to the Indemnitee, at the sole cost and expense of the Indemnifying Party. If the Indemnifying Party chooses
to defend any Third-Party Claim, the Indemnitee shall cooperate with all reasonable requests of the Indemnifying Party and shall
make available to the Indemnifying Party any books, records or other documents within its control that are necessary or appropriate
for such defense.

 

(b)       In
the event that the Indemnifying Party, within ten (10) days after receipt of an Indemnification Notice, does not so elect to defend
such Third-Party Claim, the Indemnitee will have the right to undertake the investigation and defense of such Third-Party Claim
for the account of the Indemnifying Party. The Indemnitee shall not settle or compromise any Third-Party Claim, or consent to the
entry of a judgment, whether or not the Indemnifying Party shall elect to defend such Third-Party Claim, without the written consent
of the Indemnifying Party (which consent may not be unreasonably withheld)

 

9.       MISCELLANEOUS.

 

9.1       Notices.
All notices, requests, claims, demands, waivers, instructions, documents and other communications to be given pursuant to this
Agreement shall be in writing and shall be delivered personally, faxed, or sent by nationally-recognized overnight courier to a
Party at the address set forth below for such Party or to such other address as the Party to whom notice is to be given may have
furnished to the other Parties hereto in writing in accordance herewith. Any such notice or communication shall be deemed to have
been delivered and received (a) in the case of personal delivery, on the date of such delivery, (b) in the case of faxing, on the
date sent (or on the first Business Day following the date sent if the date sent is not a Business Day) if confirmation of successful
transmission is received, and (c) in the case of a nationally-recognized overnight courier, on the first Business Day after the
date when sent for overnight delivery:

 

If to MGT, to:

 

MGT Capital Investments,
Inc.

500 Mamaroneck Avenue
– Suite 204

Harrison, NY 10528

Attention: Robert B.
Ladd CFA

Fax: (914) 630-7532

 

With a copy (which will
not constitute notice) to:

 

Sichenzia Ross Friedman
Ference LLP

61 Broadway

New York, NY 10006

Attention: Jay Kaplowitz

Fax: (212) 930-9725

 

If to Gioia, to:

 

Gioia Systems LLC.

3885 Holland
Street

Wheat Ridge, CO 80033

Attention:
Gene Gioia

Fax: [_________]

 

If to Company,
to:

 

MGT Interactive, LLC

500 Mamaroneck Avenue
– Suite 204

Harrison, NY 10528

Attention: Robert B.
Ladd CFA

Fax: (914) 630-7532

 

9.2       Entire
Agreement. This Agreement (including the exhibits and schedules hereto), and the other Transaction Agreements constitute the
entire agreement among the Parties with respect to the subject matter hereto and supersede all prior agreements and understandings,
both oral and written, among the Parties with respect to the subject matter of this Agreement.

 

    	11

    	 

    

 

9.3       Further
Assurances. The Company, Gioia and MGT shall, at any time and from time to time after the date hereof, do or to cause to be
done all such further acts, and to execute, acknowledge, deliver and file, or cause to be executed, acknowledged, delivered or
filed, all such deeds, transfers, conveyances, assignments or assurances as may be reasonably requested by another Party for: (i)
transferring, conveying and assigning the Patent Rights to the Company; and (ii) otherwise effectuating the transactions contemplated
by this Agreement. In any Action involving the infringement or validity of any of the Patents, Gioia shall, and shall cause its
Affiliates to, reasonably coordinate and cooperate with the Company’s counsel with respect to all aspects of the Action.

 

9.4       Governing
law; Consent to Jurisdiction.

 

(a)       This
Agreement shall be governed and construed in accordance with the laws of the State of New York, without regard to the conflict
of laws rules thereof.

 

(b)       The
Parties hereto irrevocably: (a) agree that any suit, action or other legal proceeding arising out of this Agreement shall be brought
in the United States District Court for the Southern District of New York or in the Borough of Manhattan, New York Supreme Court,
(b) consent to the jurisdiction of each such court in any suit, action or proceeding, (c) waive any objection which they, or any
of them, may have to the laying of venue of any such suit, action or proceeding in any of such courts, and (d) agree that service
of process by overnight courier or registered or certified mail, at the addresses listed in Section 10.3 shall
be good and sufficient service of process. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

 

9.5       Binding
Effect. This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective heirs,
personal representatives, successors and permitted assigns. This Agreement may not be assigned by any Party hereto without the
prior written consent of the other Parties, which consent may be withheld at the discretion of each Party whose consent is requested
and any purported assignment, unless so consented to, shall be void and without effect.

 

9.6       Waivers
and Amendments. This Agreement may be amended, superseded, cancelled, renewed or extended, and the terms hereof may be waived,
only by a written instrument signed by the Parties hereto or, in the case of a waiver, by the Party waiving compliance. Any Party
may waive any misrepresentation by any other Party, or any breach of warranty by, or failure to perform any covenant, obligation
or agreement by any other Party, provided that mere inaction or failure to exercise any right, remedy or option under this
Agreement, or any delay in exercising the same, will not operate as nor shall be construed as a waiver, and no waiver will be effective
unless set forth in writing and only to the extent specifically stated therein, and no single or partial exercise of any such right,
power or privilege will preclude any further exercise thereof or the exercise of any such right, power or privilege will preclude
any further exercise thereof or the exercise of any other such right, power or privilege.

 

9.7       Recitals,
Exhibits and Schedules. The recitals to this Agreement and all exhibits and schedules attached hereto are hereby incorporated
by reference into, and made a part of, this Agreement.

 

9.8       Headings.
The descriptive headings in this Agreement are inserted for convenience only and do not constitute a part of this Agreement.

 

9.9       Severability.
If any provision of this Agreement is determined to be illegal or unenforceable, such provision will be deemed amended to the extent
necessary to conform to Applicable Law, or, if it cannot be so amended without materially altering the intention of the Parties,
it will be deemed stricken and the remainder of this Agreement will remain in full force and effect.

 

9.10       Specific
Performance. Each of the Parties hereto acknowledges and agrees that the other Parties hereto would be irreparably damaged
in the event any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise
breached and that there would be no adequate remedy at law or in monetary damages to compensate for any such breach. Accordingly,
each Party hereto agrees that, in addition to any remedy to which such Party may be entitled at law or in equity, they each shall
be entitled to injunctive relief to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement
and the terms and provisions hereof, in each case without being required to post a bond or other security.

 

    	12

    	 

    

 

9.11       Fees
and Expenses. Gioia and MGT shall each pay their own expenses incidental to the preparation and negotiation of this Agreement
and the consummation of the transactions contemplated hereby.

 

9.12       Legal
Representation of the Parties. Each of the Parties hereto has had the opportunity to have its own legal counsel independently
advise such Party with respect to the transactions contemplated by this Agreement and the other Transaction Agreements. The Parties
expressly agree that the language used in this Agreement shall be deemed to be the language chosen by the Parties hereto to express
their mutual intent, and no provision of this Agreement should be construed against or interpreted to the advantage of any Party
hereto by reason of such Party or its legal counsel having drafted or participated in the drafting thereof.

 

9.13       Payment
of Transfer Costs and Expenses. All stamp, transfer, documentary, sales, use, bulk, registration and other such Taxes and fees
(including penalties and interest) which may be imposed in any jurisdiction in connection with, or arising from any of the transactions
set forth herein shall be paid by the Company.

 

9.14       Public
Announcements. Gioia shall not issue any press release or other public statement with respect to this Agreement or the transactions
contemplated hereby without the prior approval of MGT. MGT shall use commercially reasonable efforts to consult with Gioia before
issuing any press release or other public statement with respect to this Agreement or the transactions, except as may be required
by Applicable Law.

 

9.15       Confidentiality.
Except for any press release or public announcement previously issued or issued in accordance with Section 10.14,
all terms of this Agreement, the other Transaction Agreements and the transactions contemplated hereby and thereby shall remain
confidential. No Party hereto shall disclose to anyone the negotiations, any information concerning the contemplated transactions,
or anything contained herein, except to their accountants, employees, bankers and attorneys in connection with the transactions
contemplated by this Agreement, without the approval of the other Parties.

 

9.16       No
Third Party Beneficiaries. This Agreement is solely for the benefit of the Parties hereto and their successors and permitted
assigns and, except with respect to the rights of the Indemnitees under Article 9, this Agreement shall not be deemed to
confer upon any third party any remedy, claim, reimbursement or other right in addition to those which may exist without regard
to this Agreement.

 

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

 

[Remainder of Page Intentionally Blank–Signature
Page Follows]

 

    	13

    	 

    

 

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

 

	 	MGT INTERACTIVE, LLC	 
	 	 	 
	 	By:	/s/ Robert B. Ladd	 
	 	 	Name: Robert B. Ladd	 
	 	 	Title: President and CEO	 
	 	 	 	 
	 	GIOIA SYSTEMS LLC	 
	 	 	 
	 	By:	/s/ Gene Gioia	 
	 	 	Name: Gene Gioia	 
	 	 	Title: Managing Member	 
	 	 	 	 
	 	MGT CAPITAL INVESTMENTS, INC.	 
	 	 	 
	 	By:	/s/ Robert B. Ladd	 
	 	 	Name: Robert B. Ladd	 
	 	 	Title: President and CEO	 

 

[Signature Page to Contribution and Sale
Agreement]

 

    	14

    	 

    

 

EXHIBIT A

 

ASSETS

 

3 Real Deal shuffling machines including spare parts and blueprints.

 

Any computers or servers associated with the machines.

 

Playing card stock.

 

Trade show branding decorations.

 

Internet URLs:

 

		·	Www.realdealpoker.com

		·	Www.realdealpoker.net

		·	Www.cutnshuffle.com

		·	Www.cutnshuffle.net

		·	Www.cutnshuffle.org

		·	Www.realdealpoker.mobi

 

Trademarks related to the machines and the game.

 

    	15

    	 

    

 

EXHIBIT B

 

PATENTS

 

	PATENT NO.	TITLE
	 	 
	1 8,313,365	Detecting duplicate collections of virtual playing instruments
	 	 
	2 8,113,932	Method and computer readable medium relating to creating child virtual decks from a parent virtual deck
	 	 
	3 8,105,168	Method and computer readable medium relating to virtual playing instruments
	 	 
	4 7,766,334	System and computer-executable instructions for physically randomizing a plurality of playing instruments in absence of a random number generator
	 	 
	5 7,766,331	Method and device for physically randomizing a plurality of playing instruments in absence of a random number generator
	 	 
	6 7,591,728	Online gaming system configured for remote user interaction
	 	 
	7 7,300,056	System and methods for randomizing playing instruments for use in online gaming

 

    	16

    	 

    

 

EXHIBIT C

Deed
of Assignment

 

THIS DEED OF ASSIGNMENT (“Assignment”),
EFFECTIVE AS OF August __, 2013, IS MADE BY AND BETWEEN

 

Gioia Systems, LLC (hereinafter “ASSIGNOR”),
a Colorado company, with its principal place of business located at 3885 Holland
Street, Wheat Ridge, CO 80033; and

 

MGT Interactive, LLC (hereinafter “ASSIGNEE”),
a Delaware limited liability company, with its principal place of business located at 500 Mamaroneck
Avenue, Suite 204, Harrison, NY 10528.

 

WHEREAS:

 

		A	ASSIGNOR is the sole owner in respect of the patents listed in the attached Appendix (hereinafter
“the PATENTS”); and

 

		B	ASSIGNEE is desirous of acquiring all of the worldwide right, title and interest in and
to the PATENTS and the inventions disclosed therein.

 

NOW, THEREFORE, for good and valuable consideration,
receipt of which is hereby acknowledged, ASSIGNOR has sold, assigned and transferred, and does hereby sell, assign and transfer
to ASSIGNEE all of the worldwide right, title and interest in (i) the PATENT and the inventions and improvements
disclosed therein; (ii) all reissues, divisionals, continuations, continuations-in-part,
extensions, renewals, reexaminations and foreign counterparts thereof, and other patents, patent applications, certificates of
invention other governmental grants resulting from the PATENTS; (iii) all patents and applications which claim priority
to or have common disclosure or common priority with any such patents or patent applications (for the avoidance of doubt, patents
which include partial commonalities such as figures or patents whose features of the inventions are different from those of the
PATENTS are excluded), and (iv) any PATENT that as of the Effective Date is subject to a Disclaimer Issue with respect
to any other such patent or patent application; and (v) all rights corresponding to any of the foregoing throughout the world (including
the right to claim the priority date of any of the PATENT and the right to sue for and recover damages for any past,
present or future infringement of the Patents), the same to be held and enjoyed by ASSIGNEE
for its own use and enjoyment, and for the use and enjoyment of its successors, assigns and other legal representatives, to the
end of the term or terms of said PATENTS granted or reissued or reexamined as fully and entirely as the same would have
been held and enjoyed by ASSIGNOR, if this assignment and sale had not been made.

 

IN WITNESS WHEREOF, ASSIGNOR has
caused these presents to be signed by its duly appointed officier or member having full authority to convey its property; and ASSIGNEE
has caused these presents to be signed by its duly appointed officer or member.

 

And if the issue date and/or patent number
of any of the PATENTS is unknown to ASSIGNOR and ASSIGNEE at the time this Assignment is executed, ASSIGNOR
does hereby authorize its attorneys to insert on this Assignment the issue date and patent number of said PATENTS when known.

 

ASSIGNOR hereby declares that ASSIGNEE may take
the steps for recordal of this assignment in the sole name of ASSIGNEE.

 

ASSIGNOR hereby undertakes that
it shall, without further consideration, but at the expense of ASSIGNEE, execute all documents and do all such acts and
things necessary and reasonably requested by ASSIGNEE to enable Letters Patent or any other form of protection to be issued
in respect of any of said PATENTS and the inventions disclosed therein in any part of the world. ASSIGNOR also agrees,
without further consideration, but at the expense of ASSIGNEE, to enable or to assist ASSIGNEE to defend oppositions
thereto, to maintain the PATENTS and to prosecute for the infringement thereof.

 

    	17

    	 

    

SIGNED for and on behalf of

 

Gioia Systems, LLC

 

	By	_______________________ 	 	on  	 	August __,  2013
	 	(Signature)	 	 	 	(Date)  

 

(Print Name and Title)

 

On this __ day of August 2013 before me,
_____________________________, personally appeared _______________, who proved to me on the basis of satisfactory evidence to be
the person whose name is subscribed to the instrument and acknowledged to me that he executed the same in his authorized capacity
and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of New York
that the foregoing paragraph is true and correct.

 

WITNESS my hand and official seal.

___________________________

(Notary Public)

 

SIGNED for and on behalf of

 

MGT Interactive, LLC

 

	by	_______________________ 	 	on  	 	August __,  2013 
	 	(Signature)	 	 	 	(Date)  

 

(Print Name and Title)

 

On this day of August 2013 before me, _____________________________,
personally appeared ___________________, who proved to me on the basis of satisfactory evidence to be the person whose name is
subscribed to the instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature
on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of New York
that the foregoing paragraph is true and correct.

 

	WITNESS my hand and official seal.	 
	___________________________ 	 
	(Notary Public)	 

 

    	18

    	 

    

 

Exhibit
A

Listed
Patents

 

Date Format (MM/DD/YYYY)

 

		1.	United States Listed Issued Patents

 

US Issued Patents

 

	Patent Number	 
	 	 
	8,313,365	 
	 	 
	8,113,932	 
	 	 
	8,105,168	 
	 	 
	7,766,334	 
	 	 
	7,766,331	 
	 	 
	7,591,728	 
	 	 
	7,300,056	 

 

    	19CONSULTING AGREEMENT

 

This CONSULTING AGREEMENT
(this “Agreement”) is entered into as of August 29, 2013, by and between MGT Interactive, LLC, a Delaware corporation
(the “Company”) and Gioia Systems, LLC (the “Consultant”).

 

WHEREAS, the Company
desires to engage Consultant to provide certain Services (as defined in Section 3 below) for compensation, and Consultant
desires to provide the Services to the Company, upon the terms and subject to the conditions set forth below.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants contained herein, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

		1.	Engagement. The Company hereby engages Consultant to provide the Services during the Term
(as defined below), and Consultant hereby accepts such engagement to provide the Services during the Term (the “Engagement”).

 

		2.	Term of Engagement. The Engagement shall commence on the date hereof and shall terminate
on the earlier of January 31, 2014 or the date on which the Game, as that term is defined in that certain Contribution and Asset
Purchase Agreement dated August 29, 2013 receives certification by the GLA(the “Term”). In the event that the
Game receives certification on or before January 31, 2014, than the term shall be extended for an additional year.

 

		3.	Services to be Provided by Consultant. During the Term, Consultant shall provide services
to the Company as set forth on Exhibit A, as well as any other services that are mutually agreed between the parties hereto
(collectively, the “Services”). The parties hereto acknowledge and agree that the Services to be provided are
in the nature of advisory services only, and Consultant shall have no responsibility or obligation for execution of the Company’s
business or any aspect thereof nor shall Consultant have any ability to obligate or bind the Company in any respect. Consultant
shall have control over the time, method and manner of performing the Services. Consultant shall render such services as are from
time to time requested by the Company.

 

		4.	Compensation. In consideration for the Services to be provided hereunder, Consultant shall
receive as a monthly consulting fee of $10,000 to be paid $5,000 in cash per month and $5,000 deferred until GLA certification.
Upon GLA certification the consulting fee shall be payable in cash for the remainder of the term.

 

		5.	Expenses. The Company shall reimburse Consultant for all reasonable expenses incurred by
Consultant in providing the Services hereunder no later than thirty (30) days after the submission of an invoice evidencing such
expenses in a form reasonably satisfactory to the Company; provided that the Company shall not be obligated to reimburse Consultant
for expenses if incurred without the Company’s prior written approval.

 

    	 

    	 

    

 

		6.	Independent Contractor Status. It is understood and agreed that in the performance of the
Services hereunder, Consultant is acting as an independent contractor and not as an agent or employee of, or partner, joint venturer
or in any other relationship with, the Company. Consultant acknowledges that no income, social security or other taxes will be
withheld or accrued by the Company, on Consultant’s behalf. Neither the Company nor Consultant has the authority to bind
the other in any agreement without the prior written consent of the entity to be bound.

 

		7.	Confidentiality. In connection with Consultant’s Engagement, it is contemplated that
the Company will not supply Consultant with non-public or proprietary information concerning the Company and its business and operations
and affiliates without the prior written agreement of Consultant to receive such Confidential Information (“Confidential
Information”).

 

		8.	Legal Representation. Each party hereto acknowledges that it has been represented by independent
legal counsel in the preparation of the Agreement. Each party recognizes and acknowledges that counsel to the Company has represented
Consultant in connection with various legal matters and each party waives any conflicts of interest or other allegations that it
has not been represented by its own counsel.

 

		9.	Non-Competition.  Except as provided
below, during the period commencing on the date of this Agreement and ending three (3) years from the termination of this Agreement
(the “Restrictive Period”), Consultant shall not, in [any county, state, country or other jurisdiction in which
Company or the Company do business or are planning to do business as of the date of this Agreement], alone, with and/or through
others, be, become or function as an officer, director, employee, owner, corporate affiliate, salesperson, co-owner, partner,
trustee, promoter, founder, technician, engineer, analyst, employee, agent, representative, distributor, re-seller, sublicensor,
supplier, investor or lender, consultant, advisor or manager of or to, or otherwise acquire or hold any interest in or otherwise
engage in the provision of services to, any person or entity that engages in a business that is Directly Competitive (as defined
herein); provided, however, that Consultant may work exclusively for a division, entity or subgroup of such a business if the
division, entity or subgroup is not Directly Competitive. For purposes of this Agreement, “Directly Competitive”
means developing, manufacturing, providing, marketing, distributing or otherwise commercially exploiting any products, services
or technology that compete with the Company’s products, services or technology in existence as of the Effective Date or
the foregoing products, services or technology as such may be developed, enhanced or modified by the Company or Company after
the Effective Date.

 

		10.	Confidentiality. Consultant hereby covenants
and agrees that, during the Term and for a period of five (5) years thereafter, it will not communicate, disclose or otherwise
make available to any person or entity (other than the Company), or use for its own account or for the benefit of any other person
or entity, any information or materials proprietary to the Company that relate to the Company’s business or affairs which
is of a confidential nature, including, but not limited to, trade secrets, information or materials relating to existing or proposed
products (in all and various stages of development), “know-how”, marketing techniques and materials, marketing and
development plans, customer lists and other customer information (including current prospects), price lists, pricing policies,
personnel information and financial information (collectively, “Proprietary Information”). Proprietary Information
includes any and all such information and materials, whether or not obtained by Consultant with the knowledge and permission of
the Company, whether or not developed, devised or otherwise created in whole or in part by Consultant’s efforts, and whether
or not a matter of public knowledge unless as a result of authorized disclosure.

 

    	 

    	 

    

 

11.   General
Terms.

 

a.          Any notice to
be given hereunder by a party to any other party hereto may be effectuated in writing by personal delivery, by mail, registered
or certified, postage prepaid, with return receipt requested, or by facsimile or other electronic transmission and addressed to
such party at the address set forth on the signature page below.

 

b.          If any provision
of this Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable, that provision shall be deemed
modified to the extent necessary to make it valid or enforceable, or if it cannot be so modified, then severed, and the remainder
of the Agreement shall continue in full force and effect.

 

c.          All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of Delaware, without regard to the principles of conflicts of law thereof.
Each party agrees that all legal proceedings concerning the interpretations and enforcement of this Agreement (whether brought
against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced
exclusively in the state and federal courts sitting in the City of New York. Each party hereto hereby irrevocably submits to the
exclusive jurisdiction of the state and federal courts sitting in the City of New York for the adjudication of any dispute hereunder
or in connection herewith or with respect to the enforcement of this Agreement, and hereby irrevocably waives, and agrees not to
assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court. Each
party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect
for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof.

 

d.          This
Agreement embodies the entire understanding of the parties hereto with respect to the subject matter hereof, and supersedes all
prior or contemporaneous agreements, arrangements or understandings with respect to the subject matter hereof, whether oral or
written.

 

e.          This Agreement
may not be modified except in a writing signed by the parties hereto.

 

f.          No term of this
Agreement may be waived, except in a writing signed by the party hereto entitled to the benefit of such term.

 

g.          Each party hereto
represents and agrees that such party is authorized to enter into this Agreement and this Agreement constitutes a legal, valid
and binding obligation of such party, enforceable in accordance with its terms. This Agreement may not be assigned by any party.

 

h.          This Agreement may be executed
in one or more counterparts each of which shall be deemed an original and all of which counterparts, taken together, shall constitute
one and the same Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 

    	 

    

 

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of the day and year first above written.

 

	GIOIA SYSTMES, LLC	 	MGT INTERACTIVE, LLC
	 	 	 	 	 
	By:	/s/ Gene Gioia 	 	By:	/s/ Robert Ladd
	Name:	Gene Gioia	 	Name:	Robert Ladd
	Title:	Managing Member	 	Title:	President and CEO

 

	Address for Notice:	 	Address for Notice:
	 	 	
	Gioia Systems LLC	 	MGT Capital Investments, Inc.
	3885 Holland Street	 	500 Mamaroneck Avenue, Suite 204 
	Wheat Ridge, CO 80033	 	Harrison, NY 10528

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