Document:

EXECUTIVE EMPLOYMENT AGREEMENT

 

This EXECUTIVE EMPLOYMENT
AGREEMENT (the “Agreement”) dated November 26, 2013 by and between MGT Capital Investments, Inc., a company
incorporated under the laws of Delaware (the “Company”), and Jeremy Avin, an individual (the “Executive”).

 

WHEREAS, the Company
is engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space; and

 

WHEREAS, the parties
wish to enter into an Employment Agreement between the Executive and the Company, on the terms and conditions contained in this
Agreement.

 

NOW THEREFORE, in
consideration of the foregoing facts and mutual agreements set forth below, the parties, intending to be legally bound, agree as
follows:

 

1. Employment.
The Company hereby agrees to employ Executive, and Executive hereby accepts such employment and agrees to perform Executive's duties
and responsibilities in accordance with the terms and conditions hereinafter set forth.

 

1.1 Duties
and Responsibilities. Executive shall serve as Executive Vice President of the Company and as General Manager of MGT Studios,
Inc. During the Employment Term, Executive shall perform all duties and accept all responsibilities incident to such position and
other appropriate duties as may be assigned to Executive by the President and Chief Executive Officer of the Company from time
to time. The Company shall retain full direction and control of the manner, means and methods by which Executive performs the services
for which he is employed hereunder and of the place or places at which such services shall be rendered. The Executive shall, if
requested, also serve as a member of the board of directors of the Company (the “Board”).

 

1.2 Employment
Term. The term of Executive's employment shall commence on the date hereof (the “Effective Date”) and shall
continue until November , 2015, unless earlier terminated in accordance with Section 4 hereof (“Employment
Term”).

 

1.3 Extent
of Service. During the Employment Term, Executive agrees to use Executive's best efforts to carry out the duties and responsibilities
under Section 1.1 hereof and to devote substantially all of Executive's business time, attention and energy thereto.

 

1.4 Deferred
Signing Bonus. The Company shall pay Executive a deferred signing bonus equal to $75,000 (U.S.) (the “Signing Bonus”).
Except as set forth in Section 4.1 hereof, the Signing Bonus shall be payable once the cash revenues generated by the Company
(or any of its subsidiaries) from Slot Champ (or any successor technology or products that incorporate material portions of the
intellectual property of Slot Champ) after deducting app store fees has reached $200,000. The Signing Bonus shall be subject to
all state, federal, and local payroll tax withholding and any other withholdings required by law.

 

1.5 Base
Salary. The Company shall pay Executive a base salary (the “Base Salary”) at the annual rate of $190,200
(U.S.) payable at such times as the Company customarily pays its other senior level executives (but in any event no less often
than monthly). The Base Salary shall be subject to all state, federal, and local payroll tax withholding and any other withholdings
required by law.

 

    	 

    	 

    

 

1.6 Incentive
Compensation; Benefits.

 

(a) Bonus.
Executive shall be eligible to earn a cash and/or equity bonus as the Compensation Committee of the Board of Directors (the “Compensation
Committee”) may determine, from time to time, based on meeting performance objectives and bonus criteria to be determined
by the Compensation Committee. Bonuses, if any, shall be subject to all applicable tax and payroll withholdings. The Board shall
take into consideration revenues of the Company generated by FreeAwesome.net in determining stock incentive awards.

 

(b) Incentive
Plans. The Executive shall be entitled to participate in all incentive compensation plans now maintained or hereafter established
by the Company for the purpose of providing compensation and/or benefits to employees of the Company and any supplemental retirement,
salary continuation, stock option, deferred compensation, or other bonus or incentive compensation plans.

 

1.7 Other
Benefits. During the Employment Term, Executive shall be entitled to participate in all employee benefit plans and programs
made available to the employees, as such plans or programs may be in effect from time to time, including, without limitation, medical
and dental plans.

 

1.8 Vacation;
Sick Days and Personal Days. Executive shall be entitled to vacation and holidays in accordance with the Company's normal personnel
policies.

 

1.9 No
Other Compensation. Except as expressly provided in Sections 1.4 through 1.9, Executive shall not be entitled
to any other compensation or benefits.

 

2. Confidential
Information. Executive recognizes and acknowledges that by reason of Executive's employment by and service to the Company before,
during and, if applicable, after the Employment Term, Executive will have access to certain confidential and proprietary information
relating to the Company's business, which may include, but is not limited to, trade secrets, trade "know-how," and plans,
financing services, funding programs, costs, strategy and programs, computer programs and software and financial information (collectively
referred to as “Confidential Information”). Executive acknowledges that such Confidential Information is a valuable
and unique asset of the Company and Executive covenants that he will not, unless expressly authorized in writing by the Company,
at any time during the course of Executive's employment use any Confidential Information or divulge or disclose any Confidential
Information to any person, firm or corporation except in connection with the performance of Executive's duties for the Company
and in a manner consistent with the Company's policies regarding Confidential Information. Executive also covenants that at any
time after the termination of such employment, directly or indirectly, he will not use any Confidential Information or divulge
or disclose any Confidential Information to any person, firm or corporation, unless such information is in the public domain through
no fault of Executive or except when required to do so by a court of law, by any governmental agency having supervisory authority
over the business of the Company or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction
to order Executive to divulge, disclose or make accessible such information. All written Confidential Information (including, without
limitation, in any computer or other electronic format) which comes into Executive's possession during the course of Executive's
employment shall remain the property of the Company. Except as required in the performance of Executive's duties for the Company,
or unless expressly authorized in writing by the Company, Executive shall not remove any written Confidential Information from
the Company's premises, except in connection with the performance of Executive's duties for the Company and in a manner consistent
with the Company's policies regarding Confidential Information. Upon termination of Executive's employment, the Executive agrees
to return immediately to the Company all written Confidential Information (including, without limitation, in any computer or other
electronic format) in Executive's possession.

 

    	 

    	 

    

 

3. Non-Competition;
Non-Solicitation.

 

3.1 Non-Compete.
The Executive hereby covenants and agrees that during the term of this Agreement and for a period of one year following the end
of the Employment Term, the Executive will not, without the prior written consent of the Company, directly or indirectly, on his
own behalf or in the service or on behalf of others, whether or not for compensation, engage in any business activity, or have
any interest in any person, firm, corporation or business, through a subsidiary or parent entity or other entity (whether as a
shareholder, agent, joint venture, security holder, trustee, partner, Executive, creditor lending credit or money for the purpose
of establishing or operating any such business, partner or otherwise) with any Competing Business in the Covered Area. For the
purpose of this Section 3.1, (i) “Competing Business” means any company engaged in acquiring and or monetizing
intellectual property for use in the online and mobile gaming industry that is directly competitive with the online and mobile
gaming assets of Avcom, Inc. And (ii) “Covered Area” means all geographical areas of the United States and foreign
jurisdictions where Avcom, Inc. markets and sells its products. Notwithstanding the foregoing, the Executive may own shares of
companies whose securities are publicly traded, so long as such securities do not constitute more than ten percent (10%) of the
outstanding securities of any such company. Notwithstanding anything herein to the contrary if the Executive is terminated by the
Company without Cause or terminates his employment for Good Reason (as such terms are defined below), this Section 3.1 shall
not apply.

 

3.2 Non-Solicitation.
The Executive further agrees that as long as the Agreement remains in effect and for a period of one (1) year from its termination,
the Executive will not divert any business of the Company and or any affiliate of the Company and/or the Company's and/or its affiliates'
business to any other person, entity or competitor, or induce or attempt to induce, directly or indirectly, any person to leave
his or her employment with the Company.

 

3.3 Remedies.
The Executive acknowledges and agrees that his obligations provided herein are necessary and reasonable in order to protect the
Company and its affiliates and their respective business and the Executive expressly agrees that monetary damages would be inadequate
to compensate the Company and/or its affiliates for any breach by the Executive of his covenants and agreements set forth herein.
Accordingly, the Executive agrees and acknowledges that any such violation or threatened violation of this Section 3 will
cause irreparable injury to the Company and that, in addition to any other remedies that may be available, in law, in equity or
otherwise, the Company and its affiliates shall be entitled to obtain injunctive relief against any threatened breach of this Section
3 or the continuation of any such breach by the Executive without the necessity of proving actual damages.

 

4. Termination.

 

4.1 Termination
without Cause or for Good Reason.

 

(a) The
Company may terminate the Executive at any time upon two weeks’ notice. If this Agreement is terminated by the Company
other than for Cause (as defined in Section 4.4 hereof) or as a result of Executive’s death or Permanent Disability
(as defined in Section 4.2 hereof), or if Executive terminates his employment for Good Reason (as defined in Section
4.1(b) hereof) prior to the expiry of the Employment Term, Executive shall receive:

  

(i) Immediate
vesting of all unvested stock options;

 

(ii) Payment
in respect of compensation earned but not yet paid through the termination date (the “Compensation Payment”)
which amount shall be paid in a cash lump in the Company’s payroll cycle including the termination date; and.

 

    	 

    	 

    

 

(iii) The Signing Bonus, if such Signing Bonus has not already been paid pursuant to Section 1.4 hereof.

 

(b) For
purposes of this Agreement, “Good Reason” shall mean Executive’s resignation within thirty (30)
days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of
the following (without Executive’s express prior written consent):

 

(i) Any
material breach by Company of any provision of this Agreement, including any material reduction by Company of Executive’s
duties or responsibilities (except in connection with the termination of Executive’s employment for Cause, as a result of
Permanent Disability, as a result of Executive’s death or by Executive other than for Good Reason);

 

(ii) A
material reduction by the Company in Executive’s Base Salary;

 

(iii) The
failure by the Company to obtain the specific assumption of this Agreement by any successor or assign of Company as provided for
in Section 8.6 hereof; or

 

(iv) Moving
the principal offices of Company to a location outside of the New York City metropolitan area.

 

In order
for an event to qualify as Good Reason, Executive must provide the Company with written notice of the acts or omissions constituting
the grounds for “Good Reason” within ninety (90) days of the initial existence of the grounds for “Good Reason”
and a reasonable cure period of not less than thirty (30) days following the date of such notice, and such grounds must not have
been cured during such time.   

 

4.2 Permanent
Disability. If Executive becomes totally and permanently disabled (as defined in the Company’s disability benefit plan
applicable to senior executive officers as in effect on the date thereof) (“Permanent Disability”), Company
or Executive may terminate this Agreement on written notice thereof, and Executive shall receive or commence receiving, as soon
as practicable:

 

(a) the
Compensation Payment which shall be paid to Executive as a cash lump sum within 30 days of such termination; and

 

(b) immediate
vesting of all unvested stock options.

 

4.3 Death.
In the event of Executive’s death during the term of his employment hereunder, Executive's estate or designated beneficiaries
shall receive or commence receiving, as soon as practicable in accordance with the terms of this Agreement:

 

(a) the
Compensation Payment which shall be paid to Executive’s estate as a cash lump sum within 30 days of such termination; and

 

(b) such
other payments under applicable plans or programs to which Executive's estate or designated beneficiaries are entitled pursuant
to the terms of such plans or programs.

 

4.4 Voluntary
Termination by Executive: Discharge for Cause. The Company shall have the right to terminate this Agreement at any time for
Cause (as hereinafter defined). In the event that Executive’s employment is terminated by Company for Cause, or by Executive
other than for Good Reason or other than as a result of the Executive’s Permanent Disability or death, prior to the Termination
Date, Executive shall be entitled only to receive, as a cash lump sum within 30 days of such termination, the Compensation Payment.
As used herein, the term “Cause” shall be limited to (a) willful malfeasance or willful misconduct by Executive
in connection with the services to the Company in a matter of material importance to the conduct of the Company’s affairs,
(b) the Executive’s failure to comply with any valid or legal directive of the Board, (c) the Executive’s engagement
of dishonesty, illegal conduct or gross misconduct, which is, in each case, materially injurious to the Company or its affiliates,
(d) the Executive’s embezzlement, misappropriation or fraud, whether or not related to the Executive’s employment with
the Company, (e) the Executive’s willful unauthorized disclosure of Confidential Information, or (f) the conviction of Executive
for commission of a felony.

 

    	 

    	 

    

  

6. Work
Product. The Executive acknowledges and agrees that all writings, works of authorship, technology, inventions, discoveries,
ideas and other work product of any nature whatsoever, that are created, prepared, produced, authored, edited, amended, conceived
or reduced to practice by the Executive individually or jointly with others during the period of his employment by the Company
and relating in any way to the business or contemplated business, research or development of the Company (regardless of when or
where the Work Product is prepared or whose equipment or other resources is used in preparing the same) and all printed, physical
and electronic copies, all improvements, rights and claims related to the foregoing, and other tangible embodiments thereof (collectively,
“Work Product”), as well as any and all rights in and to copyrights, trade secrets, trademarks (and related
goodwill), patents and other intellectual property rights therein arising in any jurisdiction throughout the world and all related
rights of priority under international conventions with respect thereto, including all pending and future applications and registrations
therefor, and continuations, divisions, continuations-in-part, reissues, extensions and renewals thereof (collectively, “Intellectual
Property Rights”), shall be the sole and exclusive property of the Company.

 

7.Work Made
for Hire; Assignment. The Executive acknowledges that, by reason of being employed by the Company at the relevant times, to
the extent permitted by law, all of the Work Product consisting of copyrightable subject matter is “work made for hire”
as defined in 17 U.S.C. § 101 and such copyrights are therefore owned by the Company. To the extent that the foregoing does
not apply, the Executive hereby irrevocably assigns to the Company, for no additional consideration, the Executive's entire right,
title and interest in and to all Work Product and Intellectual Property Rights therein, including the right to sue, counterclaim
and recover for all past, present and future infringement, misappropriation or dilution thereof, and all rights corresponding thereto
throughout the world. Nothing contained in this Agreement shall be construed to reduce or limit the Company's rights, title or
interest in any Work Product or Intellectual Property Rights so as to be less in any respect than that the Company would have had
in the absence of this Agreement.

 

8.Assignment.
This Agreement shall be binding upon and inure to the benefit of the heirs and representatives of Executive and the assigns and
successors of Company, but neither this Agreement nor any rights or obligations hereunder shall be assignable or otherwise subject
to hypothecation by Executive (except by will or by operation of the laws of intestate succession) or by Company, except that Company
may assign this Agreement to any successor (whether by merger, purchase or otherwise) to all or substantially all of the stock,
assets or businesses of Company, if such successor expressly agrees to assume the obligations of Company hereunder.

  

9. General
Provisions.

 

9.1 Modification:
No Waiver. No modification, amendment or discharge of this Agreement shall be valid unless the same is in writing and signed
by all parties hereto. Failure of any party at any time to enforce any provisions of this Agreement or any rights or to exercise
any elections hall in no way be considered to be a waiver of such provisions, rights or elections and shall in no way affect the
validity of this Agreement. The exercise by any party of any of its rights or any of this elections under this Agreement shall
not preclude or prejudice such party from exercising the same or any other right it may have under this Agreement irrespective
of any previous action taken.

 

    	 

    	 

    

 

9.2 Notices.
All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be
in writing and shall be deemed to have been given when hand delivered or mailed by registered or certified mail as follows (provided
that notice of change of address shall be deemed given only when received):

 

If to the Company, to:

 

MGT Capital Investments, Inc.

500 Mamaroneck Avenue, Suite
204

Harrison, NY 10528

 

If to Executive, to:

 

24 Emerald Drive, Morganville

New Jersey 07751

 

Or to such other names or addresses as
the Company or Executive, as the case may be, shall designate by notice to each other person entitled to receive notices in the
manner specified in this Section.

 

9.3 Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

 

9.4 Further
Assurances. Each party to this Agreement shall execute all instruments and documents and take all actions as may be reasonably
required to effectuate this Agreement.

 

9.5 Severability.
Should any one or more of the provisions of this Agreement or of any agreement entered into pursuant to this Agreement be determined
to be illegal or unenforceable, then such illegal or unenforceable provision shall be modified by the proper court or arbitrator
to the extent necessary and possible to make such provision enforceable, and such modified provision and all other provisions of
this Agreement and of each other agreement entered into pursuant to this Agreement shall be given effect separately from the provisions
or portion thereof determined to be illegal or unenforceable and shall not be affected thereby.

 

9.6 Successors
and Assigns. Executive may not assign this Agreement without the prior written consent of the Company. The Company may assign
its rights without the written consent of the executive, so long as the Company or its assignee complies with the other material
terms of this Agreement. The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding
upon the successors and permitted assigns of the Company, and the Executive's rights under this Agreement shall inure to the benefit
of and be binding upon his heirs and executors. The Company's subsidiaries and controlled affiliates shall be express third party
beneficiaries of this Agreement.

 

9.7 Entire
Agreement. This Agreement supersedes all prior agreements and understandings between the parties, oral or written. No modification,
termination or attempted waiver shall be valid unless in writing, signed by the party against whom such modification, termination
or waiver is sought to be enforced.

 

9.8 Counterparts;
Facsimile. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be
an original, and all of which taken together shall constitute one and the same instrument. This Agreement may be executed by facsimile
with original signatures to follow.

 

    	 

    	 

    

 

9.9Compliance
with Section 409A. The benefits provided under this Agreement are intended to be exempt from application of Section 409A of
the Internal Revenue Code, and shall be administered and interpreted in a manner consistent with such intent. All references herein
to "Section 409A" include Section 409A of the Internal Revenue Code and the regulations and other guidance thereunder
and any state law of similar effect. If for any reason an exemption from application of Section 409A is not available so that any
payments hereunder are subject to the requirements of Section 409A, such payments are intended to comply with the requirements
Section 409A, and shall be administered and interpreted in a manner consistent with such intent. Severance benefits provided under
this Agreement shall not commence until Executive has a “separation from service” as defined in Section 409A. In furtherance
of the foregoing, notwithstanding anything herein to the contrary, if Employee is a "specified employee" (determined
by the Company in accordance with U.S. Treasury Regulation section 1.409A-3(i)(2)) as of the date that Employee incurs a separation
from service and if any benefit to be provided under this Agreement is not exempt from the application of Section 409A and cannot
be paid or provided in a manner otherwise provided herein without subjecting Executive to additional tax, interest and/or penalties
under Section 409A, then any such benefit that is payable during the first six (6) months following Executive’s separation
from service shall be paid to Executive in a cash lump payment to be made on the earlier of (a) Employee's death or (b) the first
day of the seventh month following Employee's separation from service. Each payment and benefit payable under this Agreement is
intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations.

 

 

[SIGNATURE PAGE TO FOLLOW]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the undersigned, intending
to be legally bound, have executed this Agreement as of the date first written above.

 

	EXECUTIVE:	 	MGT CAPITAL INVESTMENTS, INC.
	 	 	 
	/s/ Jeremy Avin	 	By: /s/ Robert Ladd
	Jeremy Avin	 	Name: Robert Ladd
	 	 	Title: President and CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Employment Agreement
(J. Avin)]EXECUTIVE EMPLOYMENT AGREEMENT

 

This EXECUTIVE EMPLOYMENT
AGREEMENT (the “Agreement”) dated November 26, 2013 by and between MGT Capital Investments, Inc., a company
incorporated under the laws of Delaware (the “Company”), and Lawrence Kom, an individual (the “Executive”).

 

WHEREAS, the Company
is engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space; and

 

WHEREAS, the parties
wish to enter into an Employment Agreement between the Executive and the Company, on the terms and conditions contained in this
Agreement.

 

NOW THEREFORE, in
consideration of the foregoing facts and mutual agreements set forth below, the parties, intending to be legally bound, agree as
follows:

 

1. Employment.
The Company hereby agrees to employ Executive, and Executive hereby accepts such employment and agrees to perform Executive's duties
and responsibilities in accordance with the terms and conditions hereinafter set forth.

 

1.1 Duties
and Responsibilities. Executive shall serve as Chief Information Officer. During the Employment Term, Executive shall perform
all duties and accept all responsibilities incident to such position and other appropriate duties as may be assigned to Executive
by the President and Chief Executive Officer of the Company from time to time. The Company shall retain full direction and control
of the manner, means and methods by which Executive performs the services for which he is employed hereunder and of the place or
places at which such services shall be rendered. The Executive shall, if requested, also serve as a member of the board of directors
of the Company (the “Board”).

 

1.2 Employment
Term. The term of Executive's employment shall commence on the date hereof (the “Effective Date”) and shall
continue until November , 2015, unless earlier terminated in accordance with Section 4 hereof (“Employment
Term”).

 

1.3 Extent
of Service. During the Employment Term, Executive agrees to use Executive's best efforts to carry out the duties and responsibilities
under Section 1.1 hereof and to devote substantially all of Executive's business time, attention and energy thereto.

 

1.4 Deferred
Signing Bonus. The Company shall pay Executive a deferred signing bonus equal to $75,000 (U.S.) (the “Signing Bonus”).
Except as set forth in Section 4.1 hereof, the Signing Bonus shall be payable once the cash revenues generated by the Company
(or any of its subsidiaries) from Slot Champ (or any successor technology or products that incorporate material portions of the
intellectual property of Slot Champ) after deducting app store fees has reached $200,000. The Signing Bonus shall be subject to
all state, federal, and local payroll tax withholding and any other withholdings required by law.

 

1.5 Base
Salary. The Company shall pay Executive a base salary (the “Base Salary”) at the annual rate of $190,200
(U.S.) payable at such times as the Company customarily pays its other senior level executives (but in any event no less often
than monthly). The Base Salary shall be subject to all state, federal, and local payroll tax withholding and any other withholdings
required by law.

 

1.6 Incentive
Compensation; Benefits.

 

(a) Bonus.
Executive shall be eligible to earn a cash and/or equity bonus as the Compensation Committee of the Board of Directors (the “Compensation
Committee”) may determine, from time to time, based on meeting performance objectives and bonus criteria to be determined
by the Compensation Committee. Bonuses, if any, shall be subject to all applicable tax and payroll withholdings. The Board shall
take into consideration revenues of the Company generated by FreeAwesome.net in determining stock incentive awards.

 

    	 

    	 

    

 

(b) Incentive
Plans. The Executive shall be entitled to participate in all incentive compensation plans now maintained or hereafter established
by the Company for the purpose of providing compensation and/or benefits to employees of the Company and any supplemental retirement,
salary continuation, stock option, deferred compensation, or other bonus or incentive compensation plans.

 

1.7 Other
Benefits. During the Employment Term, Executive shall be entitled to participate in all employee benefit plans and programs
made available to the employees, as such plans or programs may be in effect from time to time, including, without limitation, medical
and dental plans.

 

1.8 Vacation;
Sick Days and Personal Days. Executive shall be entitled to vacation and holidays in accordance with the Company's normal personnel
policies.

 

1.9 No
Other Compensation. Except as expressly provided in Sections 1.4 through 1.9, Executive shall not be entitled
to any other compensation or benefits.

 

2. Confidential
Information. Executive recognizes and acknowledges that by reason of Executive's employment by and service to the Company before,
during and, if applicable, after the Employment Term, Executive will have access to certain confidential and proprietary information
relating to the Company's business, which may include, but is not limited to, trade secrets, trade "know-how," and plans,
financing services, funding programs, costs, strategy and programs, computer programs and software and financial information (collectively
referred to as “Confidential Information”). Executive acknowledges that such Confidential Information is a valuable
and unique asset of the Company and Executive covenants that he will not, unless expressly authorized in writing by the Company,
at any time during the course of Executive's employment use any Confidential Information or divulge or disclose any Confidential
Information to any person, firm or corporation except in connection with the performance of Executive's duties for the Company
and in a manner consistent with the Company's policies regarding Confidential Information. Executive also covenants that at any
time after the termination of such employment, directly or indirectly, he will not use any Confidential Information or divulge
or disclose any Confidential Information to any person, firm or corporation, unless such information is in the public domain through
no fault of Executive or except when required to do so by a court of law, by any governmental agency having supervisory authority
over the business of the Company or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction
to order Executive to divulge, disclose or make accessible such information. All written Confidential Information (including, without
limitation, in any computer or other electronic format) which comes into Executive's possession during the course of Executive's
employment shall remain the property of the Company. Except as required in the performance of Executive's duties for the Company,
or unless expressly authorized in writing by the Company, Executive shall not remove any written Confidential Information from
the Company's premises, except in connection with the performance of Executive's duties for the Company and in a manner consistent
with the Company's policies regarding Confidential Information. Upon termination of Executive's employment, the Executive agrees
to return immediately to the Company all written Confidential Information (including, without limitation, in any computer or other
electronic format) in Executive's possession.

 

    	 

    	 

    

 

3. Non-Competition;
Non-Solicitation.

 

3.1 Non-Compete.
The Executive hereby covenants and agrees that during the term of this Agreement and for a period of one year following the end
of the Employment Term, the Executive will not, without the prior written consent of the Company, directly or indirectly, on his
own behalf or in the service or on behalf of others, whether or not for compensation, engage in any business activity, or have
any interest in any person, firm, corporation or business, through a subsidiary or parent entity or other entity (whether as a
shareholder, agent, joint venture, security holder, trustee, partner, Executive, creditor lending credit or money for the purpose
of establishing or operating any such business, partner or otherwise) with any Competing Business in the Covered Area. For the
purpose of this Section 3.1, (i) “Competing Business” means any company engaged in acquiring and or monetizing
intellectual property for use in the online and mobile gaming industry that is directly competitive with the online and mobile
gaming assets of Avcom, Inc. And (ii) “Covered Area” means all geographical areas of the United States and foreign
jurisdictions where Avcom, Inc. markets and sells its products. Notwithstanding the foregoing, the Executive may own shares of
companies whose securities are publicly traded, so long as such securities do not constitute more than ten percent (10%) of the
outstanding securities of any such company. Notwithstanding anything herein to the contrary if the Executive is terminated by the
Company without Cause or terminates his employment for Good Reason (as such terms are defined below), this Section 3.1 shall
not apply.

 

3.2 Non-Solicitation.
The Executive further agrees that as long as the Agreement remains in effect and for a period of one (1) year from its termination,
the Executive will not divert any business of the Company and or any affiliate of the Company and/or the Company's and/or its affiliates'
business to any other person, entity or competitor, or induce or attempt to induce, directly or indirectly, any person to leave
his or her employment with the Company.

 

3.3 Remedies.
The Executive acknowledges and agrees that his obligations provided herein are necessary and reasonable in order to protect the
Company and its affiliates and their respective business and the Executive expressly agrees that monetary damages would be inadequate
to compensate the Company and/or its affiliates for any breach by the Executive of his covenants and agreements set forth herein.
Accordingly, the Executive agrees and acknowledges that any such violation or threatened violation of this Section 3 will
cause irreparable injury to the Company and that, in addition to any other remedies that may be available, in law, in equity or
otherwise, the Company and its affiliates shall be entitled to obtain injunctive relief against any threatened breach of this Section
3 or the continuation of any such breach by the Executive without the necessity of proving actual damages.

 

4. Termination.

 

4.1 Termination
without Cause or for Good Reason.

 

(a) The
Company may terminate the Executive at any time upon two weeks’ notice. If this Agreement is terminated by the Company
other than for Cause (as defined in Section 4.4 hereof) or as a result of Executive’s death or Permanent Disability
(as defined in Section 4.2 hereof), or if Executive terminates his employment for Good Reason (as defined in Section
4.1(b) hereof) prior to the expiry of the Employment Term, Executive shall receive:

  

(i) Immediate
vesting of all unvested stock options;  

 

(ii) Payment
in respect of compensation earned but not yet paid through the termination date (the “Compensation Payment”)
which amount shall be paid in a cash lump in the Company’s payroll cycle including the termination date; and.

 

    	 

    	 

    

 

(iii) The Signing Bonus, if such Signing Bonus has not already been paid pursuant to Section 1.4 hereof.

 

(b) For
purposes of this Agreement, “Good Reason” shall mean Executive’s resignation within thirty (30)
days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of
the following (without Executive’s express prior written consent):

 

(i) Any
material breach by Company of any provision of this Agreement, including any material reduction by Company of Executive’s
duties or responsibilities (except in connection with the termination of Executive’s employment for Cause, as a result of
Permanent Disability, as a result of Executive’s death or by Executive other than for Good Reason);

 

(ii) A
material reduction by the Company in Executive’s Base Salary;

 

(iii) The
failure by the Company to obtain the specific assumption of this Agreement by any successor or assign of Company as provided for
in Section 8.6 hereof; or

 

(iv) Moving
the principal offices of Company to a location outside of the New York City metropolitan area.

 

In order
for an event to qualify as Good Reason, Executive must provide the Company with written notice of the acts or omissions constituting
the grounds for “Good Reason” within ninety (90) days of the initial existence of the grounds for “Good Reason”
and a reasonable cure period of not less than thirty (30) days following the date of such notice, and such grounds must not have
been cured during such time.   

 

4.2 Permanent
Disability. If Executive becomes totally and permanently disabled (as defined in the Company’s disability benefit plan
applicable to senior executive officers as in effect on the date thereof) (“Permanent Disability”), Company
or Executive may terminate this Agreement on written notice thereof, and Executive shall receive or commence receiving, as soon
as practicable:

 

(a) the
Compensation Payment which shall be paid to Executive as a cash lump sum within 30 days of such termination; and

 

(b) immediate
vesting of all unvested stock options.

 

4.3 Death.
In the event of Executive’s death during the term of his employment hereunder, Executive's estate or designated beneficiaries
shall receive or commence receiving, as soon as practicable in accordance with the terms of this Agreement:

 

(a) the
Compensation Payment which shall be paid to Executive’s estate as a cash lump sum within 30 days of such termination; and

 

(b) such
other payments under applicable plans or programs to which Executive's estate or designated beneficiaries are entitled pursuant
to the terms of such plans or programs.

 

4.4 Voluntary
Termination by Executive: Discharge for Cause. The Company shall have the right to terminate this Agreement at any time for
Cause (as hereinafter defined). In the event that Executive’s employment is terminated by Company for Cause, or by Executive
other than for Good Reason or other than as a result of the Executive’s Permanent Disability or death, prior to the Termination
Date, Executive shall be entitled only to receive, as a cash lump sum within 30 days of such termination, the Compensation Payment.
As used herein, the term “Cause” shall be limited to (a) willful malfeasance or willful misconduct by Executive
in connection with the services to the Company in a matter of material importance to the conduct of the Company’s affairs,
(b) the Executive’s failure to comply with any valid or legal directive of the Board, (c) the Executive’s engagement
of dishonesty, illegal conduct or gross misconduct, which is, in each case, materially injurious to the Company or its affiliates,
(d) the Executive’s embezzlement, misappropriation or fraud, whether or not related to the Executive’s employment with
the Company, (e) the Executive’s willful unauthorized disclosure of Confidential Information, or (f) the conviction of Executive
for commission of a felony.

 

    	 

    	 

    

  

6. Work
Product. The Executive acknowledges and agrees that all writings, works of authorship, technology, inventions, discoveries,
ideas and other work product of any nature whatsoever, that are created, prepared, produced, authored, edited, amended, conceived
or reduced to practice by the Executive individually or jointly with others during the period of his employment by the Company
and relating in any way to the business or contemplated business, research or development of the Company (regardless of when or
where the Work Product is prepared or whose equipment or other resources is used in preparing the same) and all printed, physical
and electronic copies, all improvements, rights and claims related to the foregoing, and other tangible embodiments thereof (collectively,
“Work Product”), as well as any and all rights in and to copyrights, trade secrets, trademarks (and related
goodwill), patents and other intellectual property rights therein arising in any jurisdiction throughout the world and all related
rights of priority under international conventions with respect thereto, including all pending and future applications and registrations
therefor, and continuations, divisions, continuations-in-part, reissues, extensions and renewals thereof (collectively, “Intellectual
Property Rights”), shall be the sole and exclusive property of the Company.

 

7.Work Made
for Hire; Assignment. The Executive acknowledges that, by reason of being employed by the Company at the relevant times, to
the extent permitted by law, all of the Work Product consisting of copyrightable subject matter is “work made for hire”
as defined in 17 U.S.C. § 101 and such copyrights are therefore owned by the Company. To the extent that the foregoing does
not apply, the Executive hereby irrevocably assigns to the Company, for no additional consideration, the Executive's entire right,
title and interest in and to all Work Product and Intellectual Property Rights therein, including the right to sue, counterclaim
and recover for all past, present and future infringement, misappropriation or dilution thereof, and all rights corresponding thereto
throughout the world. Nothing contained in this Agreement shall be construed to reduce or limit the Company's rights, title or
interest in any Work Product or Intellectual Property Rights so as to be less in any respect than that the Company would have had
in the absence of this Agreement.

 

8.Assignment.
This Agreement shall be binding upon and inure to the benefit of the heirs and representatives of Executive and the assigns and
successors of Company, but neither this Agreement nor any rights or obligations hereunder shall be assignable or otherwise subject
to hypothecation by Executive (except by will or by operation of the laws of intestate succession) or by Company, except that Company
may assign this Agreement to any successor (whether by merger, purchase or otherwise) to all or substantially all of the stock,
assets or businesses of Company, if such successor expressly agrees to assume the obligations of Company hereunder.

  

9. General
Provisions.

 

9.1 Modification:
No Waiver. No modification, amendment or discharge of this Agreement shall be valid unless the same is in writing and signed
by all parties hereto. Failure of any party at any time to enforce any provisions of this Agreement or any rights or to exercise
any elections hall in no way be considered to be a waiver of such provisions, rights or elections and shall in no way affect the
validity of this Agreement. The exercise by any party of any of its rights or any of this elections under this Agreement shall
not preclude or prejudice such party from exercising the same or any other right it may have under this Agreement irrespective
of any previous action taken.

 

    	 

    	 

    

 

9.2 Notices.
All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be
in writing and shall be deemed to have been given when hand delivered or mailed by registered or certified mail as follows (provided
that notice of change of address shall be deemed given only when received):

 

If to the Company, to:

 

MGT Capital Investments, Inc.

500 Mamaroneck Avenue, Suite
204

Harrison, NY 10528

 

If to Executive, to:

 

166 E 82nd St., Apt. 5B

New York, NY 10028

 

Or to such other names or addresses as
the Company or Executive, as the case may be, shall designate by notice to each other person entitled to receive notices in the
manner specified in this Section.

 

9.3 Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

 

9.4 Further
Assurances. Each party to this Agreement shall execute all instruments and documents and take all actions as may be reasonably
required to effectuate this Agreement.

 

9.5 Severability.
Should any one or more of the provisions of this Agreement or of any agreement entered into pursuant to this Agreement be determined
to be illegal or unenforceable, then such illegal or unenforceable provision shall be modified by the proper court or arbitrator
to the extent necessary and possible to make such provision enforceable, and such modified provision and all other provisions of
this Agreement and of each other agreement entered into pursuant to this Agreement shall be given effect separately from the provisions
or portion thereof determined to be illegal or unenforceable and shall not be affected thereby.

 

9.6 Successors
and Assigns. Executive may not assign this Agreement without the prior written consent of the Company. The Company may assign
its rights without the written consent of the executive, so long as the Company or its assignee complies with the other material
terms of this Agreement. The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding
upon the successors and permitted assigns of the Company, and the Executive's rights under this Agreement shall inure to the benefit
of and be binding upon his heirs and executors. The Company's subsidiaries and controlled affiliates shall be express third party
beneficiaries of this Agreement.

 

9.7 Entire
Agreement. This Agreement supersedes all prior agreements and understandings between the parties, oral or written. No modification,
termination or attempted waiver shall be valid unless in writing, signed by the party against whom such modification, termination
or waiver is sought to be enforced.

 

9.8 Counterparts;
Facsimile. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be
an original, and all of which taken together shall constitute one and the same instrument. This Agreement may be executed by facsimile
with original signatures to follow.

 

    	 

    	 

    

 

9.9Compliance
with Section 409A. The benefits provided under this Agreement are intended to be exempt from application of Section 409A of
the Internal Revenue Code, and shall be administered and interpreted in a manner consistent with such intent. All references herein
to "Section 409A" include Section 409A of the Internal Revenue Code and the regulations and other guidance thereunder
and any state law of similar effect. If for any reason an exemption from application of Section 409A is not available so that any
payments hereunder are subject to the requirements of Section 409A, such payments are intended to comply with the requirements
Section 409A, and shall be administered and interpreted in a manner consistent with such intent. Severance benefits provided under
this Agreement shall not commence until Executive has a “separation from service” as defined in Section 409A. In furtherance
of the foregoing, notwithstanding anything herein to the contrary, if Employee is a "specified employee" (determined
by the Company in accordance with U.S. Treasury Regulation section 1.409A-3(i)(2)) as of the date that Employee incurs a separation
from service and if any benefit to be provided under this Agreement is not exempt from the application of Section 409A and cannot
be paid or provided in a manner otherwise provided herein without subjecting Executive to additional tax, interest and/or penalties
under Section 409A, then any such benefit that is payable during the first six (6) months following Executive’s separation
from service shall be paid to Executive in a cash lump payment to be made on the earlier of (a) Employee's death or (b) the first
day of the seventh month following Employee's separation from service. Each payment and benefit payable under this Agreement is
intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations.

 

 

[SIGNATURE PAGE TO FOLLOW]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the undersigned, intending
to be legally bound, have executed this Agreement as of the date first written above.

 

	EXECUTIVE:	 	MGT CAPITAL INVESTMENTS, INC.
	 	 	 
	/s/ Lawrence Kom	 	By: /s/ Robert Ladd
	Lawrence Kom	 	Name: Robert Ladd
	 	 	Title: President and CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Employment Agreement
(L.Kom)]

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