Document:

2001 Non-Executive Director Stock Option Plan, as amended

 Exhibit 10.2 

NON-EXECUTIVE DIRECTOR 

STOCK OPTION PLAN OF 

AUTHENTIDATE HOLDING CORP. 

As amended, effective May 19, 2010 

1. PURPOSE 
 The purpose
of the Non-Executive Director Stock Option Plan is to provide a means by which (i) each Director of Authentidate Holding Corp. (the “Company”) who is not otherwise a full-time employee of the Company or any subsidiary of the Company
(each such person being hereafter referred to as a “Non-Executive Director”) and (ii) each person appointed as a member of any Advisory Board established or maintained by the Company who is not otherwise an employee of the Company or
any subsidiary of the Company or an Outside Director (each such person being hereinafter referred to as an “Advisor”) will be given an opportunity to purchase Common Stock, $.001 par value per share, of the Company (“Common
Stock”). The Company, by means of the Director Plan, seeks to attract and retain the services of qualified independent persons to serve as Non-Executive Directors of the Company and as Advisors on the Company’s various Advisory Boards, and
to provide incentives for such persons to exert maximum efforts for the success of the Company. 
 2. ADMINISTRATION 

(a) The Director Plan shall be administered by the Board of Directors of the Company (the “Board”) or a committee of the Board (the
“Committee”) which shall at all times consist of not less than two (2) officers of the Company who are not entitled to participate in the Director Plan, to be appointed by the Board of Directors and to serve at the pleasure of the
Board of Directors. 
 (b) Grant of options under the Director Plan and the amount and nature of the awards to be granted shall be automatic as
described in Section 5 hereof. However, all questions of interpretation of the Director Plan or of any options issued under it shall be determined by the Board or Committee and such determination shall be final and binding upon all persons
having an interest in the Director Plan. A majority of the Board’s or Committee’s members shall constitute a quorum, and all determinations shall be made by a majority of such quorum. Any determination reduced to writing and signed by all
of the members of the Board or Committee shall be fully effective as if it had been made by a majority vote at a meeting duly called and held. 

3. SHARES SUBJECT TO THE PLAN 

There shall be no aggregate limitation on the number of shares of Common Stock that may be acquired pursuant to options granted under the
Director Plan. 
  

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 The Common Stock subject to the Director Plan may be in whole or in part authorized and
unissued shares of Common Stock or issued shares of Common Stock which shall have been reacquired by the Company. If any Option shall expire or terminate for any reason without having been exercised in full, the unissued shares subject thereto shall
again be available for purposes of the Director Plan. 
 4. ELIGIBILITY 

Options shall be granted only to (a) Non-Executive Directors serving on the Board of Directors of the Company and (b) Advisors
serving on the Advisory Boards of the Company. Non-Executive Directors shall not be entitled to receive Options for serving as Advisors on Advisory Boards of the Company. 

5. NON-DISCRETIONARY GRANTS 
 (a) Grants
to Outside Directors 
 (i) Commencing on the date that this Non-Executive Director Stock Option Plan, as
amended, is approved by the Board of Directors of the Company, each new Non-Executive Director to the Board of Directors shall be entitled to receive an Option to purchase 40,000 shares of Common Stock. Commencing on September 1, 2002, an
Option to purchase 10,000 shares of Common Stock on the terms and conditions set forth herein shall be granted to each Non-Executive Director and thereafter on September 1st of each year; provided that any Non-Executive Director, who has not
served as a director for an entire year prior to
September 1st of each year shall receive a pro rata
number of options determined as follows: 
  

			
	 Date of Membership
	  	Options Granted
	 September 1 through November 30
	  	10,000
	 December 1 through February 28
	  	7,500
	 March 1 through May 30
	  	5,000
	 June 1 through August 31
	  	2,500

 Notwithstanding the foregoing, in the
event a Non-Executive Director initially joins the Board of Directors on or after June 1, such Non-Executive Director shall not be eligible to be granted Options on September 1 of the year in which he or she first joined the Board of
Directors. 
 (b) Grants to Advisors 

(i) Each person who is appointed as an Advisor on an Advisory Board established or maintained by the Company shall, upon such appointment
and on each anniversary of the effective date of his appointment, be granted options to purchase 5,000 shares for Advisors and options to purchase 7,500 shares for Advisors who are also chairmen of such Advisory Board, on the terms and conditions
set forth herein. 
  

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 (ii) Notwithstanding the foregoing, no Advisor who may serve on an Advisory
Board of the Company shall be entitled to receive any options under the Director Plan for serving as such advisor, and in no event will the grant amount, as defined above in Section 5(a)(ii), exceed $75,000 with respect to a grant to a chairman
of an Advisory Board Director or $50,000 with respect to an Advisor on an annual basis to an Advisor. To the extent the grant amount exceeds the foregoing limitations, the number of shares subject to the Option to be granted to the Advisor will be
reduced accordingly. 
 6. PURCHASE OPTION 

A. Commencing December 17, 2003, each Non-Executive Director joining the Board of Directors after such date shall he have the right
to purchase up to $100,000 of Common Stock during the initial twelve month period immediately following the date upon which the Non-Executive Director joins the Board of Directors. The purchase price for the Common Stock shall be equal to 80% of the
Fair Market Value of the Common Stock on the date of purchase as determined in accordance were Section 7(b)hereof. The purchase right granted hereunder may be exercised in whole or in part at any time during the initial twelve month period.

 B. Commencing July 1, 2009 and on July 1 of each year thereafter while this Plan is in effect, each Non-Executive
Director shall have the right to elect, within thirty days from July 1, to receive a percentage (not to exceed 100%) of all cash compensation payable to such Non-Executive Director for the fiscal year ending the following June 30 in
restricted shares of the Company’s Common Stock (“Restricted Shares”). Notwithstanding the foregoing, however, on one occasion during each fiscal quarter, a Non-Executive Director, prior to the first day of the last month of each
fiscal quarter, may notify the Company of his decision to modify a prior election to allocate the payment of compensation between cash and Restricted Shares, with any such revised allocation to be effective for the fiscal quarter within which it is
made and any for any subsequent fiscal quarter during the fiscal year that such revised allocation is made, unless again modified in accordance with this Section. In the event a Non-Executive Director elects to receive a percentage of his or her
cash compensation in Restricted Shares, the number of Restricted Shares that will be issued to such a Non-Executive Director will be calculated by dividing the cash amount to be converted into Restricted Shares by the fair market value of the
Company’s Common Stock as of the date the fees are earned. The closing price of the Company’s Common Stock on the last trading day of each fiscal quarter will be used to determine the fair market value of the Common Stock which may be
issued in lieu of the fees paid for service as a director during such period. For the purposes of this Section 6, “fair market value” shall have the meaning ascribed to such phrase in Section 7, below, except that as used in this
Section 6 the date of determination shall be such date or dates on which the applicable fees are earned. Restricted Shares will be restricted from public resale for a period of one year from the date of issuance and thereafter subject to the
provisions of Rule 144, as adopted by the Securities and Exchange Commission under the Securities Act of 1933, as amended. 
  

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 7. OPTION PROVISIONS 

Each Option shall be evidenced by a written agreement (“Stock Option Agreement”) and shall contain the following terms and
conditions: 
 (a) The term of each Option commences on the date it is granted and, unless sooner terminated as set forth herein, expires on the
date (“Expiration Date”) that is ten years from the date of grant. Options outstanding as of the date of the amendment to this Plan shall be deemed amended to provide that such options shall expire ten years from the date of grant, unless
sooner terminated. The term of each Option may terminate sooner than such Expiration Date if the optionee’s service as a Non-Executive Director or Advisor of the Company terminates for any reason or for no reason. In the event of such
termination of service, the Option shall terminate (i) for Non-Executive Directors, on the second anniversary of the date of termination of service as a director and (ii) for Advisors on the earlier of the Expiration Date or the date three
(3) months following the date of termination of service. Notwithstanding the foregoing, (A) if termination of service is due to optionee’s death or permanent disability (as determined by the Board), the option shall terminate on the
earlier of the Expiration Date or twelve (12) months following the date of the optionee’s death or termination of service for permanent disability and (B) if an optionee is removed from the Board (or Advisory Board) for cause, as
determined by the Board, the option awards held by such optionee would terminate immediately upon removal. In any and all circumstances, an option may be exercised following termination of the optionee’s service as an Advisor only as to that
number of shares as to which it was exercisable on the date of termination of such services. 
 (b) The exercise price of each option shall be
one hundred percent (100%) of the Fair Market Value of the shares subject to such option on the date such option is granted. “Fair Market Value” of a share of Common Stock shall mean (i) if the Common Stock is traded on a
national securities exchange or on the Nasdaq National Market System (“NMS”), the per share closing price of the Common Stock on the principal securities exchange on which they are listed or on NMS, as the case may be, on the date of grant
(or if there is no closing price for such date of grant, then the last preceding business day on which there was a closing price); or (ii) if the Common Stock is traded in the over-the-counter market and listed on the small cap market of the
Nasdaq Stock Market (“Nasdaq”), the per share closing bid price of the Common Stock on the date of grant as reported by Nasdaq (or if there is no closing bid price for such date of grant, then the last preceding business day on which there
was a closing bid price); or (iii) if the Common Stock is traded in the over-the-counter market but bid quotations are not published on Nasdaq quotation system, the closing bid price per share for the Common Stock as furnished by a
broker-dealer which regularly furnishes price quotations for the Common Stock. 
 (c) The optionee may elect to make payment of the exercise
price under one of the following alternatives: 
 (i) Payment of the exercise price per share in cash at the time of exercise; or 

 

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 (ii) Recourse notes (subject to Paragraph 16 herein) or 

(iii) Payment by a combination of the methods of payment specified in Subsections 7(c)(i) and 7(c)(ii) above. 

(d) An option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the
person to whom the option is granted only by such person or by his guardian or legal representative. 
 (e) All options granted under the
Director Plan shall be non-qualified stock options, and do not qualify as incentive stock options within the meaning of Section 422, or any successor section, of the Internal Revenue Code of 1986, as amended. 

8. ACCELERATION OF OPTIONS 

Notwithstanding any contrary installment period with respect to any option and unless the Board or Committee determines otherwise, each
outstanding option granted under the Director Plan shall become exercisable in full for the aggregate number of shares covered thereby in the event: (i) the Board (or, if approval of the stockholders is required as a matter of law, the
stockholders of the Company) shall approve (a) any consolidation or merger of the Company in which the Company is not the continuing or surviving corporation or pursuant to which shares of shares of Common Stock would be converted into cash,
securities or other property, other than a merger of the Company in which the holders of Common Stock immediately prior to the merger have the same proportionate ownership of common stock of the surviving corporation immediately after the merger, or
(b) any sale, lease, exchange, or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Company, or (c) the adoption of any plan or Proposal for the liquidation or
dissolution of the Company; or (ii) any person (as such term is defined in Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), corporation or other entity (other than the Company or
any employee benefit plan sponsored by the Company or any Subsidiary) (a) shall purchase any Common Stock (or securities convertible into the Company’s Common Stock) for cash, securities or any other consideration pursuant to a tender
offer or exchange offer, without the prior consent of the Board of Directors, or (b) shall become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Company representing twenty-five percent (25%) or more of the combined voting power of the then outstanding securities of the Company ordinarily (and apart from rights accruing under special circumstances) having the right to vote in the
election of Directors (calculated as provided in paragraph (d) of such Rule 13(d)(3) in the case of rights to acquire the Company’s Securities); or (iii) during any period of two consecutive years or less, individuals who at the
beginning of such period constitute the entire Board of Directors shall cease for any reason to constitute a majority thereof unless the election, or the nomination for election by the Company’s stockholders, of each new director was approved
by a vote of at least a majority of the directors then still in office. The Stock Option Agreement evidencing options 

 

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granted under the Director Plan may contain such provisions limiting the acceleration of the exercise of Options as provided in this Section 8 as the Board or Committee deems appropriate to
ensure that the penalty provisions of Section 4999 of the Code, or any successor thereto in effect at the time of such acceleration, will not apply to any stock received by a Non-Executive Director or Advisor from the Company. 

9. RIGHT OF COMPANY TO TERMINATE SERVICES AS A NON-EXECUTIVE DIRECTOR OR ADVISOR 

Nothing contained in the Director Plan or in any instrument executed pursuant hereto shall confer upon any Non-Executive Director or
Advisor any right to continue in the service of the Company or any of its subsidiaries or interfere in any way with the right of the Company or a subsidiary to terminate the service of any Non-Executive Director or Advisor at any time, with or
without cause. 
 10. NONALIENATION OF BENEFITS 

No right or benefit under the Director Plan shall be subject to alienation, sale, assignment, hypothecation, pledge, exchange, transfer,
encumbrance or charge, and any attempt to alienate, sell, assign, hypothecate, pledge, exchange, transfer, encumber or charge the same shall be void. No right or benefit hereunder shall in any manner be liable for or subject to the debts, contracts,
liabilities or torts of the person entitled to such benefit. 
 11. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION 

All options granted under the Plan shall be deemed automatically adjusted (both in the number of shares and exercise price), as
appropriate, for any corporate action adopted by the Board of Directors and/or shareholders which action results in changes in the outstanding Common Stock of the Company by reason of any stock dividend, distribution, split-up, recapitalization,
combination or exchange of shares, merger, consolidation or liquidation and the like, and, in the event of any such change in the outstanding Common Stock, the aggregate number and class of shares available under the Director Plan and the number of
shares subject to nondiscretionary grants pursuant to Section 5 hereof shall be appropriately adjusted. 
 12. TERMINATION AND AMENDMENT

 Unless the Director Plan shall theretofore have been terminated as hereinafter provided, no grant of Options may be made
under the Director Plan after a date which is ten years from the date of adoption of the Director Plan by the Board of Directors. The Board or Committee may at any time amend, alter, suspend or terminate the Director plan; provided, however, that
the Board or Committee may not, without the requisite vote of the stockholders of the Company approving such action (i) materially increase (except as provided in Section 10 hereof) the maximum number of shares which may be issued under
the Director Plan; (ii) extend the term of the Director Plan; (iii) materially increase the requirements as to eligibility for 

 

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participation in the Director Plan; or (iv) materially increase the benefits accruing to participants under the Director Plan. No termination, modification or amendment of the Director Plan
or any outstanding Stock Option Agreement may without the consent of the Non-Executive Director or Advisor to whom any option shall theretofore have been granted, adversely affect the rights of such Director with respect to such option. 

13. EFFECTIVENESS OF THE PLAN 

The Director Plan shall become effective upon the requisite vote of the stockholders of the Company approving such action, and upon the
approvals, if required, of any other public authorities. Any grant of options under the Director Plan prior to such approval shall be expressly subject to the condition that the Director Plan shall have been so approved. Unless the Director Plan
shall be so approved, the Director Plan and all options theretofore made thereunder shall be and become null and void. 
 14. GOVERNMENT AND
OTHER REGULATIONS 
 The obligation of the Company with respect to options shall be subject to (i) all applicable laws,
rules and regulations and such approvals by any governmental agencies as may be required, including, without limitation, the effectiveness of a registration statement under the Securities Act of 1933, and (ii) the rules and regulations of any
securities exchange on which the Common Stock may be listed. 
 15. COMPLIANCE WITH SEC REGULATION SECTION 16(B) 

In the case of optionees who are or may be subject to Section 16 of the Securities and Exchange Act of 1934, as amended (and the
rules and regulations promulgated thereunder) (the “1934 Act”), it is the intent of the Company that the Plan and any award granted hereunder satisfy and be interpreted in a manner that satisfies the applicable requirements of Rule 16b-3.
This is so that such persons will be entitled to the benefits of Rule 16b-3 or other exemptive rules under Section 16 of the 1934 Act and will not be subjected to liability thereunder. If any provision of the Plan or any award would otherwise
conflict with the intent expressed herein, that provision, to the extent possible, shall be interpreted and deemed amended so as to avoid such conflict. To the extent of any remaining irreconcilable conflict with such intent, such provision shall be
deemed void as applicable to optionees who are or may be subject to Section 16 of the 1934 Act. 
 16. TAX WITHHOLDING. 

It shall be a condition to the obligation of the Company to deliver shares or securities of the Company upon exercise of an award, that
the grantee of such award pay to the Company such amount as may be requested by the Company for the purpose of satisfying any liability for any federal, state or local income or other taxes required by law to be withheld. The Board or

  

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Committee may, in its sole discretion, permit the grantee of an award, in accordance with any applicable regulations of the authority issuing such regulations, to pay a portion or all of the
amount of such minimum required or additional permitted withholding taxes in shares. At the Board’s or Committee’s sole discretion, the grantee shall be permitted to authorize the Company to withhold, or shall agree to surrender back to
the Company, on or about the date such withholding tax liability is determinable, shares previously owned by such grantee or a portion of the shares that were or otherwise would be distributed to such grantee pursuant to such award having a fair
market value equal (as determined under Section 6 hereof) to the amount of such required or permitted withholding taxes to be paid in shares. 

17. LOANS TO GRANTEES. 

The Board or Committee, acting on behalf of the Company, shall have the authority and may, in its sole discretion, lend money to, or
guaranty any obligation of, a grantee for the purpose of enabling such grantee to exercise an option granted hereunder; the amount of such loan or obligation, however, shall be limited to an amount equal to fifty (50%) percent of the exercise
price of such option. Any loan made hereunder shall bear interest at the rate of ten (10%) percent per annum; may be unsecured or secured in such manner as the Board or Committee shall determine, including, without limitation, a pledge of the
subject shares; and shall be subject to such other terms and conditions as the Board or Committee may determine. 
 18. NO OBLIGATION TO
EXERCISE OPTION. 
 The granting of an award shall impose no obligation upon the grantee (or upon a transferee of a grantee)
to exercise such award. 
 19. NO LIMITATION ON RIGHTS OF THE COMPANY. 

The grant of any award shall not in any way affect the right or power of the Company to make adjustments, reclassification, or changes in
its capital or business structure to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 

20. EXPENSES OF THE PLAN. 

All of the expenses of the Plan shall be paid by the Company. 

21. GRANTEE TO HAVE NO RIGHTS AS A STOCKHOLDER. 

No grantee of any option shall have any rights as a stockholder with respect to any shares subject to his or her option prior to the date
on which he or she is recorded as the holder of such shares on the records of the Company. No grantee of any option shall have the rights of a stockholder until he or she has paid in full the option price. 

22. GOVERNING LAW 
 The
Director Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware. 
  

 8Amended and Restated Employment Agreement

 EXHIBIT 10.8 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Agreement”) is made as of the
8th day of October, 2009, by and among PRIVATE MEDIA
GROUP, INC (“Private”), GAME LINK LLC., a limited liability company (the “Company”), and ILAN BUNIMOVITZ (“Employee”). 

Recitals 

A. The Company and Employee are parties to that certain Employment Agreement dated as of January 20, 2009 (the “Original
Agreement”) pursuant to which Employee is employed by the Company as Executive Vice President of the consolidated Internet and Internet-related business conducted by Private and its subsidiaries (the “Private Group”) (the
Internet and Internet-related business conducted by the Private Group from time to time, including the business of the Company and e-Line LLC (“eLine”) is referred to herein as the “Online Media Business”).

 B. The Prior Agreement was entered into in connection with and pursuant to an Agreement and Plan of Reorganization dated as
of January 20, 2009 (the “Merger Agreement”), by and among Private, the Company, eLine, and certain affiliates of the Company and eLine, including Employee. 

C. In addition to Employee’s duties under as Executive Vice President under the Original Agreement, Privates desires to retain
Employee as Chief Executive Officer of Private effective April 21, 2009, and, in connection therewith, the parties intend to amend and restate the Original Agreement by entering into this Agreement. 

D. All capitalized terms which are not defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement.

 NOW, THEREFORE, in consideration of the foregoing, and the mutual covenants contained herein, the parties hereto, intending
to be legally bound, agree as follows: 
 1. Employment and Duties. 

1.1. Employment; Duties. Under the Original Agreement Employee is employed by the Company as Executive Vice President of
the Online Media Business conducted by the Private Group during the “Term” of this Agreement (as such quoted term is defined in Section 3), effective January 20, 2009. In addition to Employees duties as Executive Vice
President, effective April 21, 2009, Private hereby also employs Employee as its Chief Executive Officer, for the remainder of the Term. Employee shall report to Private’s Board of Directors and shall have such titles, responsibilities and
duties, consistent with his positions and expertise, as may from time to time be prescribed by the Board of Directors of Private. 

1.2 Full Time. Employee shall devote all of his business time, energy, and skill to the business and affairs of the Private
Group. Employee acknowledges and agrees that he shall observe and comply with all of the reasonable policies as prescribed from time to time by the Private Group. Nothing in this Section 1, however, shall prohibit Employee from (i) serving
as a director, trustee, officer of, or partner or investor in, any other firm, trust, corporation or partnership; provided that such activities are not inconsistent with Employee’s duties under this Agreement; or (ii) engaging in
additional activities in connection with personal investments and community affairs that are not inconsistent with Employee’s duties under this Agreement. 
  

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 2. Compensation. 

2.1. Base Salary. In consideration of the services rendered to the Company (and/or its Affiliates) Employee shall receive
from the Company an annual salary (“Base Salary”) of $295,000 payable bi-weekly or semi-monthly in accordance with the Private Group’s standard payroll practices, subject to increase as determined by the Compensation Committee
of the Board of Directors of Private from time to time. The Compensation Committee of the Board of Directors of Private shall review such salary no less than annually. 

2.2. Benefits. During the Term, Employee shall be entitled to participate in employee benefit plans (such as health,
dental, vision, pension, retirement and similar plans) and receive fringe benefits that are substantially similar to those provided to other key executives of the Private Group and as are generally now or hereafter available to employees and/or
other senior executives of the Private Group in accordance with their then existing terms and conditions. Additionally, during the Term, the Company shall reimburse Employee for all reasonable expenses incurred in connection with Employee’s use
of an automobile, not to exceed $1,500 per month, including lease payments, insurance, gasoline, maintenance and parking and otherwise subject to the presentation of appropriate documentation. 

2.3. Vacation. During the Term, Employee shall be entitled to a total of 20 vacation days or paid time off per year,
exclusive of holidays observed by the Private Group, in accordance with the vacation policies of the Private Group in effect for their U.S. employees from time to time, which shall be scheduled in a reasonable manner by Employee. Vacation days which
are not used during any calendar year may be accrued or paid in accordance with Company policy. 
 2.4.
Expenses. During the Term, Employee will be entitled to reimbursement from the Company of all reasonable expenses incurred in the ordinary course of business on behalf of the Private Group, (including reimbursement of all reasonable
expenses related to travel, living and lodging in connection with time spent by Employee at Private’s headquarters in Barcelona, Spain), including its Affiliates, subject to the presentation of appropriate documentation and approved in
accordance with the then existing terms and conditions of the Private Group’s policies. 
 2.5.
Withholding. The Company (including any Affiliate) may withhold from compensation payable to Employee all applicable federal, state and local withholding taxes. 

2.6. Employee Stock Options and Grants. During the Term of this Agreement if Berth Milton shall receive a grant of stock
options from Private, Employee shall be entitled to receive at such time a grant of a “Proportionate Amount” amount of stock options with the same exercise price and exercise period, and with vesting provisions as determined by
Private’s Option Committee, not to exceed three years from the date of grant. For purposes of this Agreement “Proportionate Amount” means, at the time of grant, the amount based upon the ratio of the percentage ownership of
Private Common Stock owned directly or indirectly by Berth Milton in proportion to the percentage ownership of Private Common Stock owned by Employee. Stock options granted to Employee under this Section 2.6 shall provide for the full and
immediate vesting thereof if (i) the Company or Private shall terminate Employee’s employment, unless terminated for Cause or by reason of Employee’s Death or Disability, or (ii) or Employee shall terminate his employment under
this Agreement for Good Reason. 
 3. Term. 

The term of employment under this Agreement shall be a period commencing on the date(s) specified in Section 1.1 hereof and ending
on January 20, 2012 (the “Expiration Date”), unless terminated earlier in accordance with the other provisions hereof (the “Initial Term”).Absent a written notice from the Company, Private or Employee to the
contrary, this Agreement shall automatically extend in one month increments following the Initial Term (each such extension period shall be referred to herein as a “Renewal Term”). This Agreement shall terminate automatically 30
days after written notice by the Company, Private or Employee delivered after the Initial Term, without any severance pay, termination pay or any severance obligation whatsoever. The Initial Term and Renewal Term(s) are collectively referred to
herein as the “Term.” 
  

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 4. Termination. 

4.1. Definitions. As used herein, the following terms shall have the following meanings: 

4.1.1. “Notice of Termination” means a written notice specifying the termination provision in this
Agreement relied upon. 
 4.1.2. “Date of Termination” means (i) where termination is due
to the death of the Employee, the date of death, or (ii) the earlier of the date specified in the Notice of Termination or the last day Employee is employed under this Agreement, as the case may be. 

4.1.3. “Cause” means that Employee has (i) breached any fiduciary duty or material legal or
contractual obligation to the Company or Private (including any Affiliate), which breach is not cured within thirty (30) days after notice to the Employee thereof or, if cured, such conduct recurs (it being agreed that such cure right for any
particular conduct shall only be available once during the Initial Term and each Renewal Term), (ii) failed to perform satisfactorily Employee’s material job duties or to follow any material reasonable directive of the Board of Directors
of Private, which failure is not cured within thirty (30) days after notice to Employee thereof or, if cured, such conduct recurs (it being agreed that such cure right for any particular conduct shall only be available once during the Initial
Term and each Renewal Term), (iii) engaged in gross negligence, gross insubordination, willful misconduct, fraud, embezzlement, acts of material dishonesty or a conflict of interest (without the prior, informed written consent of Private), in
any such case relating to the affairs of the Private Group, or (iv) been convicted of or pleaded no contest to (A) any misdemeanor relating to the affairs of the Private Group or (B) any felony, unless in either case (1) the
felony or misdemeanor involved actions or omissions of Employee in the ordinary course of the Private Group’s business, and (2) Employee was acting in good faith and what he reasonably believed to be the best interests of the Private
Group. 
 4.1.4. “Good Reason” means Employee’s voluntary termination within thirty
(30) days following the occurrence of one or more of the following: (i) a material diminution Employee’s authority, duties, title, reporting structure or responsibilities that is not remedied by the Company or Private within 30 days
after receipt of notice thereof given by Employee, or (ii) a material breach of this Agreement by the Company or Private, which breach is not cured within thirty (30) days after notice thereof given by Employee, or (iii) a change by
the Company or Private in the geographical location at which Employee must provide the services described in this Agreement by more than twenty-five (25) miles from his current location in San Francisco, California, excluding reasonable travel
(and provided that it is understood that Employee will be required to spend up to three (3) months per year, or additional time per year with the consent of Employee, at the Private’s headquarters in Barcelona, Spain, which requirement
shall not be deemed occurrence of an event permitting Employee to resign with “Good Reason”). 
 4.1.5.
“Disability” means illness (mental or physical) or accident, which results in Employee being unable to perform Employee’s duties under this Agreement on a full time basis, for a period of sixty (60) consecutive days,
or one hundred twenty (120) days, whether or not consecutive, in any twelve month period. In the event of a dispute as to whether Employee is Disabled, the Company or Private may refer the same to a mutually acceptable licensed practicing
physician, whose written report shall be final and binding upon the parties, and Employee agrees to submit to such tests and examination as such physician shall deem appropriate. If Employee fails or refuses for any reason to promptly submit to any
examination requested by such physician, then Employee shall be considered to be Disabled. 
  

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 4.2. General. Employee’s employment under this Agreement may be
terminated at any time by the Company or Private with Cause or in the event of the Disability of Employee, effective (except in the event of Employee’s death) immediately upon receipt by Employee of written Notice of Termination or upon such
other date specified in such Notice of Termination. Employee’s employment shall automatically terminate upon his death. Employee may resign for Good Reason after at least thirty (30) days prior written Notice of Termination thereof from
Employee to the Company and Private. 
 4.3. Effects of Termination. If the Company or Private terminates the
Employee’s employment during the Initial Term of the Agreement other than for Cause, or if Employee terminates his employment for Good Reason, the Company shall pay to Employee (a) any and all Base Salary, accrued vacation and expense
reimbursement that had accrued but had not been paid prior to the Date of Termination, which amounts shall be paid promptly after the Date of Termination, (b) an amount equal to Employee’s monthly Base Salary multiplied by the remaining
number of whole months left in the Initial Term, which amount shall be paid in monthly installments consistent with how the Company historically pays Employee’s Base Salary, and (c) the cost of premiums to continue health insurance
coverage for Employee and his dependents under COBRA (provided that Employee is eligible and timely elects COBRA coverage) during the remaining Initial Term, payable monthly as and when incurred by Employee, and otherwise the Company shall have no
further obligation to make any payments or provide any benefits to Employee hereunder after the Date of Termination; provided however, that no portion of the amounts set forth in clause (b) above shall become payable before a Separation from
Service occurs. As used herein, a “Separation from Service” occurs when Employee dies, retires, or otherwise has a termination of employment that constitutes a “separation from service” within the meaning of Treasury Regulation
Section 1.409A-1(h)(1), without regard to the optional alternative definitions available thereunder. If Employee’s employment is terminated for any other reason, the Company shall have no further obligation to make any payments or provide
any benefits to Employee hereunder after the Date of Termination except for payments of Base Salary and expense reimbursement that had accrued but had not been paid prior to the Date of Termination, less all deductions or offsets for amounts owed by
Employee to the Company. 
 4.4. Procedure upon Termination. On termination of employment regardless of the
reason, Employee (or his heirs, representatives or estate as the case may be) shall promptly return to Private all documents (including copies) and other property containing or disclosing Confidential Information, including customer lists, manuals,
letters, materials, reports and records in Employee’s possession or control no matter from whom or in what manner acquired. 

5. Confidential Information. 

5.1. During the Term of this Agreement and thereafter, Employee will not, directly or indirectly, use, or willfully
disclose to any Person, any Confidential Information (as defined herein) of the Private Group, except (A) in the performance of his duties on behalf of the Private Group, or (B) to the extent necessary to comply with law or the valid order
of a court of competent jurisdiction, in which event Employee shall notify the Company as promptly as practicable (and, if possible, prior to the making of such disclosure). “Confidential Information” means any information, data,
trade secrets and confidential or proprietary information relating to the business, operations, assets and liabilities of the Private Group, including without limitation all customers and/or suppliers’ identities, characteristics and
agreements, financial information and projections, employee files, business and marketing plans, sales activities, pricing methodologies, credit and financial data and financial methods; provided, however, that the foregoing shall not
apply to information which is not generally known to the industry or the public other than as a result of Employee’s breach of this covenant. Employee agrees that upon termination of his employment under this Agreement for any reason, he will
return to Private immediately all memoranda, books, papers, plans, information, letters and other data, and all copies thereof or therefrom, in any way relating to the business of the Private Group. Employee further agrees that he will not retain or
use for his account at any time any trade names, trademark or other proprietary business designation used or owned in connection with the business of any member of the Private Group. 

 

 4 

 5.2. For the avoidance of doubt, Employee acknowledges that if he engages
(directly or indirectly) in any conduct which violates this Section 5, such conduct shall constitute a breach of this Agreement regardless of whether such conduct constitutes a violation of the Merger Agreement. 

6. Appointment as Director. Private acknowledges that as a condition of Employee’s employment, Employee was
appointed to Private’s Board of Directors in March 2009 and Private agrees that it will nominate Employee to continue to serve as a director at each annual meeting of shareholders of Private in 2009, 2010 and 2011, until such time as Employee
shall cease to be employed under this Agreement. For the avoidance of doubt, Private’s breach of this Section 6 shall constitute a material breach of this Agreement for purposes of Section 4.1.4(ii) hereof. 

7. Miscellaneous. 

7.1 Notices. All written notices, demands and requests of any kind which any party may be required or may desire to serve
upon the other parties hereto in connection with this Agreement shall be delivered only by courier or other means of personal service which provides written verification of receipt or by registered or certified mail return receipt requested, or by
facsimile; provided that the facsimile is promptly followed by delivery of a hard copy of such notice which provides written verification or receipt (each, a “Notice”). Any such Notice delivered by registered or certified mail shall
be deposited in the United States mail with postage thereon fully prepaid, or if by courier then deposited prepaid with the courier. All Notices shall be addressed to the parties to be served as follows: 

If to the Company or Private: 

c/o Private Media Group, Inc. 

Calle de la Marina 16-18 

Floor 18, Suite D 

08005 Barcelona, Spain 

Attention: Chief Financial Officer 

If to Employee: 

Ilan Bunimovitz 

537 Stevenson Street 

San Francisco, CA 94103 

7.2 Entire Agreement. This Agreement amends and restates the Prior Agreement in its entirety. This Agreement (including the
documents referred to herein) and the Merger Agreement constitute the entire agreement between the parties and supersede any prior understandings, agreements, or representations by or between the Parties, written or oral, to the extent they related
in any way to the subject matter hereof. 
 7.3 Assignment, Successors. This Agreement is personal in its
nature and none of the parties hereto shall, without the consent of the others, assign or transfer this Agreement or any rights or obligations hereunder; provided that the Company or Private may assign its rights under this Agreement either to an
Affiliate or in connection with a merger, consolidation, transfer, or sale of all or substantially all of the assets of the Company or Private with or to any other individual or entity, in which event this Agreement shall, subject to the provisions
hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company and Private hereunder. 

 

 5 

 7.4 Governing Law and Venue. This Agreement shall be governed by and construed
in accordance with the laws of the State of California. 
 7.5 General. Any dispute, claim or controversy arising
out of or relating to this Agreement or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this Agreement to arbitrate, shall be determined by arbitration in Los
Angeles County, California, before a single arbitrator. The arbitration shall be administered by JAMS pursuant to its applicable Arbitration Rules and Procedures. Judgment on the award may be entered in any court having jurisdiction. This clause
shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. The arbitrator shall award to the prevailing party, as determined by the arbitrator, all of its costs and fees, including
the costs of the arbitration, the fees of the arbitrator, and the reasonable attorneys’ fees of the prevailing party. 

7.6 Waiver; Modification. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof
shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or
relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto. 

7.7 Headings. Section headings in this Agreement are included herein for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose. 
 7.8 Specific Performance. Employee
acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach of any of the provisions of Section 5 hereof would be inadequate and, in recognition of this fact, Employee agrees that, in the event of such a
breach or threatened breach, in addition to any remedies at law, the Company or Private shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other
equitable remedy which may then be available without the need to post any security or bond. 
  

 6 

 7.9. Section 409A. 

7.9.1. It is intended that any amounts payable under this Agreement shall either be exempt from or comply with
Section 409A of the U.S. Internal Revenue Code (including the Treasury regulations and other published guidance relating thereto) (“Code Section 409A”) so as not to subject Employee to payment of any additional tax,
penalty or interest imposed under Code Section 409A. The provisions of this Agreement shall be construed and interpreted to avoid the imputation of any such additional tax, penalty or interest under Code Section 409A yet preserve (to the
nearest extent reasonably possible) the intended benefit payable to Employee. 
 7.9.2. Notwithstanding any
provision of this Agreement to the contrary, if Employee is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of Employee’s Separation from Service, Employee shall not be entitled
to any severance payment or benefits pursuant to this offer letter until the earlier of (i) the date which is six (6) months after Employees’ Separation from Service for any reason other than death, or (ii) the date of
Employee’s death. Any amounts otherwise payable to Employee upon or in the six (6) month period following Employee’s Separation from Service that are not so paid by reason of this paragraph shall be paid (without interest) as soon as
practicable (and in all events within thirty (30) days) after the date that is six (6) months after Employee’s Separation from Service (or, if earlier, as soon as practicable, and in all events within thirty (30) days, after the
date of Employee’s death). The provisions of this paragraph shall only apply if, and to the extent, required to avoid the imputation of any tax, penalty or interest pursuant to Code Section 409A. 

7.9.3 To the extent that any reimbursements pursuant to this Agreement are taxable to Employee, any such reimbursement
payment shall be paid to Employee on or before the last day of Employee’s taxable year following the taxable year in which the related expense was incurred. The benefits and reimbursements pursuant to such provision are not subject to
liquidation or exchange for another benefit and the amount of such benefits and reimbursements that Employee receives in one taxable year shall not affect the amount of such benefits or reimbursements that Employee receives in any other taxable
year. 
 7.10 Counterparts; Facsimile Signatures. This Agreement may be executed in two or more counterparts, each
of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. A facsimile copy shall have the same legal effect as the original. 

[Signature Page Follows] 
  

 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Employment
Agreement as of the date above written. 
  

			
	PRIVATE MEDIA GROUP, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GAME LINK LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

	
	“EMPLOYEE”
	
	  
	Ilan Bunimovitz

  

 8

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