Document:

Exhibit 4.1

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY
THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR PLEDGED, HYPOTHECATED, SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR (B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT SUCH OFFER, SALE, TRANSFER, PLEDGE OR HYPOTHECATION IS IN FULL COMPLIANCE
WITH THE SECURITIES ACT OF 1933, AS AMENDED OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A OR REGULATION S UNDER SAID ACT OR OTHER
APPLICABLE EXEMPTION.

 

	Principal Amount:
    $[___].00	Issue
                                            Date: 

 

CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE RECEIVED, MAWSON
INFRASTRUCTURE GROUP, INC., a Delaware corporation (hereinafter called the “Borrower” or the “Company”) (Trading
Symbol: MIGI), hereby promises to pay to the order of [_______________], a [company incorporated under the laws of JURISDICTION],
or registered assigns (the “Holder”), in the form of lawful money of the United States of America, the principal sum of $[_______].00
(the “Principal Amount”) and to pay interest on the outstanding Principal Amount hereof at the rate of twenty percent (20%)
(the “Interest Rate”) per annum from the date or receipt of the Principal Amount by the Borrower (the “Issue Date”)
until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise, as further provided herein.
Interest shall be computed on the basis of a 365-day year and the actual number of days elapsed. The maturity date shall be twelve (12)
months from the Issue Date (the “Maturity Date”). Beginning on the last business day of August 2022, and continuing on the
last business day of each month thereafter until the Maturity Date, Borrower shall make a payment equal to half of the interest that
has accrued on this Note since the last such payment (or since the date of this Note with regards to the first payment). If not sooner
paid, the entire unpaid principal balance, along with interest thereon shall be due and payable on the Maturity Date.

 

This Convertible Promissory
Note (“Note”) may not be prepaid or repaid in whole or in part except as otherwise explicitly set forth herein. This Note
will not be amortized.

 

Any Principal Amount or interest
on this Note which is not paid when due shall bear interest at the rate of the lesser of (i) twenty-five percent (25%) per annum and
(ii) the maximum amount permitted by law from the due date thereof until the same is paid (“Default Interest”). Default Interest
shall be computed on the basis of a 365-day year and the actual number of days elapsed.

 

All payments due hereunder
(to the extent not converted into shares of common stock, $0.001 par value per share, of the Borrower (the “Common Stock”),
in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such
address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever
any amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same shall instead be due
on the next succeeding day which is a business day.

 

As used in this Note, the
term “business day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the city of New
York, New York are authorized or required by law or executive order to remain closed. As used herein, the term “Trading Day”
means any day that shares of Common Stock are listed for trading or quotation on The NASDAQ Stock Market LLC.

 

This Note is free from all
taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar
rights of stockholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The obligations under this
Note are secured by that certain Guarantee and Security Agreement dated as of the date hereof, entered into by Borrower, Holder and certain
affiliates of Borrower.

 

This Note is one of several
Convertible Promissory Notes issued on or around the date hereof for an aggregate of up to $3,600,000.00. Each of these Convertible Promissory
Notes is referred to herein as a July Note and together as the July Notes.

 

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The following terms shall
also apply to this Note:

 

ARTICLE I. CONVERSION RIGHTS

 

1.1 Conversion
Right. The Holder shall have the right, on the Maturity Date, to convert all or any portion of the then outstanding and unpaid
Principal Amount and interest (including any Default Interest) into fully paid shares of Common Stock, as such Common Stock exists on
the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common Stock shall hereafter be changed
or reclassified, at the Conversion Price (as defined below) determined as provided herein (a “Conversion”); provided, however,
that notwithstanding anything to the contrary contained herein, the a Holder shall not have the right to convert any portion of this
Note, pursuant to Section 1 or otherwise, to the extent that after giving effect to such issuance after conversion as set forth on the
applicable Notice of Conversion, the Holder (together with the Holder’s affiliates (the “Affiliates”), and any other
Persons (as defined below) acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution
Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing
sentence, the number of shares of Common Stock beneficially owned by the Holder and Attribution Parties shall include the number of shares
of Common Stock issuable upon conversion of this Note with respect to which such determination is being made, but shall exclude the number
of shares of Common Stock which would be issuable upon (i) conversion of the remaining, nonconverted portion of this Note beneficially
owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted
portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation contained
herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence,
for purposes of this Section 1.1, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities and Exchange
Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder, it being acknowledged
by the Holder that the Holder is solely responsible for any schedules required to be filed in accordance therewith. In addition, a determination
as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder. For purposes of this Section 1.1, in determining the number of outstanding shares of Common Stock,
a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or
annual report filed with the Securities and Exchange Commission (“SEC”), as the case may be, (B) a more recent public announcement
by the Company or (C) a more recent written notice by the Company or the transfer agent of the Company setting forth the number of shares
of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and
in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common
Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Note, by the
Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported.
The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding at the time
of the respective calculation hereunder; provided however that, the Holder, upon notice to the Company, may increase or decrease the
Beneficial Ownership Limitation provisions of this Section 1.1, provided that the Beneficial Ownership Limitation in no event exceeds
9.99% of the number of shares of the Common Stock outstanding at the time of the respective calculation hereunder. Any increase in the
Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. “Person”
and “Persons” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an
unincorporated organization, any other entity and any governmental entity or any department or agency thereof. The limitations contained
in this paragraph shall apply to a successor holder of this Note. The number of Conversion Shares to be issued upon each conversion of
this Note shall be determined by dividing the Conversion Amount (as defined below) by the applicable Conversion Price then in effect
on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the “Notice of Conversion”),
delivered to the Borrower by the Holder in accordance with Section 1.4 below; provided that the Notice of Conversion is submitted by
e-mail (or by other means resulting in, or reasonably expected to result in, notice) to the Borrower before 11:59 p.m., New York, New
York time on such conversion date (the “Conversion Date”). The term “Conversion Amount” means, with respect to
any conversion of this Note, the sum of (a) the Principal Amount of this Note to be converted in such conversion plus (b)
accrued and unpaid interest, if any, on such Principal Amount at the Interest Rate to the Conversion Date.

 

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1.2 Conversion Price.

 

(a) Calculation of
Conversion Price. The per share conversion price into which Principal Amount and interest (including any Default Interest) under
this Note shall be convertible into shares of Common Stock hereunder (the “Conversion Price”) shall equal either (i) 0.85,
or, if an Event of Default has occurred and is continuing (ii) $0.80. If at any time the Conversion Price as determined hereunder for
any conversion would be less than the par value of the Common Stock, then at the sole discretion of the Holder, the Conversion Price
hereunder may equal such par value for such conversion and the Conversion Amount for such conversion may be increased to include Additional
Principal, where “Additional Principal” means such additional amount to be added to the Conversion Amount to the extent necessary
to cause the number of conversion shares issuable upon such conversion to equal the same number of conversion shares as would have been
issued had the Conversion Price not been adjusted by the Holder to the par value price. The Conversion Price is subject to equitable
adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower’s securities or the
securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar
events.

 

1.3 Authorized
and Reserved Shares. The Borrower covenants that at all times until the Note is satisfied in full, the Borrower will reserve
from its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance
of the Conversion Shares. The Borrower represents that upon issuance, the Conversion Shares will be duly and validly issued, fully paid
and non-assessable. The Borrower (i) acknowledges that it will instruct its transfer agent to have the Conversion Shares issued as contemplated
by Section 1.4(f) hereof, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers, General Counsel
and agents who are charged with the duty of causing the Company to electronically issue shares of Common Stock to execute and cause the
Conversion Shares to be issued as contemplated by Section 1.4(f) hereof in accordance with the terms and conditions of this Note.

 

1.4 Method of Conversion.

 

(a) Mechanics
of Conversion. This Note may be converted by the Holder in whole, on any date 30 days after the issue of this agreement and, by submitting
to the Borrower a Notice of Conversion (by e-mail or other reasonable means of communication dispatched on the Conversion Date prior
to 11:59 p.m., New York, New York time), with the conversion to occur within 15 days of receipt of any Notice of Conversion. Any Notice
of Conversion submitted after 11:59 p.m., New York, New York time, shall be deemed to have been delivered and received on the next Trading
Day. If the Holder is a subsidiary of Borrower, Holder may not convert the Note.

 

(b) Surrender
of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance
with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire unpaid Principal
Amount is so converted. The Holder and the Borrower shall maintain records showing the Principal Amount so converted and the dates of
such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower, so as not to require physical
surrender of this Note upon each such conversion. In the event of any dispute or discrepancy, such records of the Borrower shall, prima
facie, be controlling and determinative in the absence of manifest error. Notwithstanding the foregoing, if any portion of this
Note is converted as aforesaid, the Holder may not transfer this Note (if such transfer is otherwise permissible) unless the Holder first
physically surrenders this Note to the Borrower, whereupon the Borrower will forthwith issue and deliver upon the order of the Holder
a new Note of like tenor, registered as the Holder (upon payment by the Holder of any applicable transfer taxes) may request, representing
in the aggregate the remaining unpaid Principal Amount of this Note. The Holder and any assignee, by acceptance of this Note, acknowledge
and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Note, the unpaid and unconverted
Principal Amount of this Note represented by this Note may be less than the amount stated on the face hereof.

 

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(c) Payment
of Taxes. The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved in the issue
and delivery of shares of Common Stock or other securities or property on conversion of this Note in a name other than that of the Holder
(or in street name), and the Borrower shall not be required to issue or deliver any such shares or other securities or property unless
and until the person or persons (other than the Holder or the custodian in whose street name such shares are to be held for the Holder’s
account) requesting the issuance thereof shall have paid to the Borrower the amount of any such tax or shall have established to the
satisfaction of the Borrower that such tax has been paid.

 

(d) Delivery
of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of an e-mail (or other reasonable means of communication)
of a Notice of Conversion meeting the requirements for conversion as provided in this Section 1.4, the Borrower shall cause the electronic
issuance and delivery of the Conversion Shares as contemplated by Section 1.4(f) hereof) within five (5) Trading Days after such receipt
(the “Deadline”). If the Company shall fail for any reason or for no reason to cause the electronic issuance and delivery
of the Conversion Shares for such number of Conversion Shares to which the Holder is entitled upon the Holder’s conversion of this
Note (a “Conversion Failure”), then, in addition to all other remedies available to the Holder, (i) the Company shall pay
in cash to the Holder on each day after the Deadline and during such Conversion Failure an amount equal to 1.5% of the product of (A)
the sum of the number of Conversion Shares not issued to the Holder on or prior to the Deadline and to which the Holder is entitled and
(B) the Closing Bid Price of the Common Stock on the Trading Day immediately preceding the last possible date which the Company could
have issued such Conversion Shares to the Holder without violating this Section 1.4(d); and (ii) the Holder, upon written notice to the
Company, may void all or any portion of such Notice of Conversion; provided that the voiding of all or any portion of a Notice of Conversion
shall not affect the Company’s obligations to make any payments which have accrued prior to the date of such notice. In addition
to the foregoing, if on or prior to the Deadline the Company shall fail to cause the electronic issuance and delivery of the number of
Conversion Shares to which the Holder is entitled upon the Holder’s exercise hereunder or pursuant to the Company’s obligation
pursuant to clause (ii) below, and if on or after such Trading Day the Holder purchases (in an open market transaction or otherwise)
shares of Common Stock to deliver in satisfaction of a sale by the Holder of shares of Common Stock issuable upon such exercise that
the Holder anticipated receiving from the Company, then the Company shall, within two (2) Trading Days after the Holder’s request
and in the Holder’s discretion, either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase price
(including brokerage commissions and other reasonable and customary out-of-pocket expenses, if any) for the shares of Common Stock so
purchased (the “Buy-In Price”), at which point the Company’s obligation to cause the electronic issuance and delivery
of the Conversion Shares to Holder shall terminate, or (ii) promptly honor its obligation to cause the electronic issuance and delivery
of the Conversion Shares to holder and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the
product of (A) such number of shares of Common Stock, times (B) the Closing Bid Price of the Common Stock on the date of exercise.

 

(e) Obligation
of Borrower to Deliver Common Stock. At the time that the Holder submits the Notice of Conversion to the Borrower, the Holder
shall be deemed to be the holder of record of the Conversion Shares issuable upon such conversion, the outstanding Principal Amount and
the amount of accrued and unpaid interest (including any Default Interest) under this Note shall be reduced to reflect such conversion,
and, unless the Borrower defaults on its obligations under this Article I, all rights with respect to this Note shall forthwith terminate
except the right to receive the Common Stock or other securities, cash or other assets, as herein provided, on such conversion. If the
Holder shall have given a Notice of Conversion as provided herein, the Borrower’s obligation to cause the electronic delivery of
the Conversion Shares as contemplated by Section 1.4(f) hereof shall be absolute and unconditional, irrespective of the absence of any
action by the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against
any person or any action to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower to the
holder of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of
any obligation to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower
to the Holder in connection with such conversion. The Conversion Date specified in the Notice of Conversion shall be the Conversion Date
so long as the Notice of Conversion is sent to the Borrower before 11:59 p.m., New York, New York time, on such date.

 

(f) Delivery
of Conversion Shares by Electronic Transfer. In lieu of delivering physical certificates representing the Conversion Shares issuable
upon conversion hereof, upon request of the Holder and its compliance with the provisions contained in Section 1.1 and in this Section
1.4, the Borrower shall use its best efforts to cause its transfer agent to electronically transmit the Conversion Shares issuable upon
conversion hereof to the Holder.

 

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1.5 Concerning
the Shares. The Conversion Shares issuable upon conversion of this Note may not be sold or transferred unless (i) such shares are
sold pursuant to an effective registration statement under the Securities Act of 1933, as amended (“1933 Act”), or (ii) the
Borrower shall have been furnished with an opinion of counsel of Holder, reasonably acceptable to Borrower, to the effect that the shares
to be sold or transferred may be sold or transferred pursuant to an exemption from such registration or (iii) such shares are transferred
to an “affiliate” (as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance
with this Section 1.5 and who is an “accredited investor” as defined in Rule 501(a) Regulation D under the 1933 Act. Subject
to the removal provisions set forth below, until such time as the Conversion Shares have been registered under the 1933 Act or otherwise
may be sold pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption without any restriction as to the number of
securities as of a particular date that can then be immediately sold, each certificate for the Conversion Shares that has not been so
included in an effective registration statement or that has not been sold pursuant to an effective registration statement or an exemption
that permits removal of the legend, shall bear a legend substantially in the following form, as appropriate:

 

“NEITHER THE ISSUANCE AND SALE OF
THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR (B) AN OPINION OF COUNSEL OF HOLDER, IN A GENERALLY ACCEPTABLE FORM TO THE ISSUER, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.
NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE SECURITIES.”

 

Upon the request of the Holder,
the legend set forth above shall be removed and the Company shall issue the applicable Conversion Shares by electronic delivery, if,
unless otherwise required by applicable state securities laws, such Conversion Shares are registered for sale under an effective registration
statement filed under the 1933 Act or the Holder provides a legal counsel opinion to the effect that a public sale or transfer of such
Conversion Shares may be made without registration under the 1933 Act, pursuant to Rule 144, Rule 144A, Regulation S, or other applicable
exemption without any restriction as to the number of securities as of a particular date that can then be immediately sold, which opinion
shall be acceptable to the Company and the transfer agent (if necessary). The Company shall be responsible for the fees of its transfer
agent associated with any such issuance. The Holder agrees to sell all Conversion Shares, including those represented by a certificate(s)
from which the legend has been removed, in compliance with applicable prospectus delivery requirements, if any.

  

1.6 Effect of Certain Events.

 

(a) Effect
of Merger, Consolidation, Etc. The sale, conveyance or disposition of all or substantially all of the assets of the Borrower, or
the consolidation, merger or other business combination of the Borrower with or into any other Person (as defined below) or Persons when
the Borrower is not the survivor shall be treated pursuant to Section 1.6(b) hereof. “Person” shall mean any individual,
corporation, limited liability company, partnership, association, trust or other entity or organization.

 

(b) Adjustment
Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion of all of this
Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event, as a result
of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of another class or classes
of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially all of the assets
of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then the Holder of this Note shall thereafter
have the right to receive upon conversion of this Note, upon the basis and upon the terms and conditions specified herein and in lieu
of the shares of Common Stock immediately theretofore issuable upon conversion, such stock, securities or assets which the Holder would
have been entitled to receive in such transaction had this Note been converted in full immediately prior to such transaction (without
regard to any limitations on conversion set forth herein), and in any such case appropriate provisions shall be made with respect to
the rights and interests of the Holder of this Note to the end that the provisions hereof (including, without limitation, provisions
for adjustment of the Conversion Price and of the number of shares issuable upon conversion of the Note) shall thereafter be applicable,
as nearly as may be practicable in relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower
shall not effectuate any transaction described in this Section 1.6(b) unless (a) it first gives, to the extent practicable, at least
fifteen (15) days prior written notice of the record date of the special meeting of stockholders to approve, or if there is no such record
date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization or other similar event or
sale of assets (during which time the Holder shall be entitled to convert this Note) and (b) the resulting successor or acquiring entity
(if not the Borrower) assumes by written instrument the obligations of this Section 1.6(b). The above provisions shall similarly apply
to successive consolidations, mergers, sales, transfers or share exchanges.

 

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(c) Adjustment
Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets)
to holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or distribution
to the Borrower’s stockholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary (i.e., a spin-off))
(a “Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this Note after the date of record
for determining stockholders entitled to such Distribution, to receive the amount of such assets which would have been payable to the
Holder with respect to the shares of Common Stock issuable upon such conversion had such Holder been the holder of such shares of Common
Stock on the record date for the determination of stockholders entitled to such Distribution.

 

(d) Purchase
Rights. If, at any time when all or any portion of this Note is issued and outstanding, the Borrower issues any convertible
securities or rights to purchase stock, warrants, securities or other property (the “Purchase Rights”) pro rata to the record
holders of any class of Common Stock, then the Holder of this Note will be entitled to acquire, upon the terms applicable to such Purchase
Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares of Common Stock
acquirable upon complete conversion of this Note (without regard to any limitations on conversion contained herein) immediately before
the date on which a record is taken for the grant, issuance or sale of such Purchase Rights or, if no such record is taken, the date
as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights.

 

(e)
RESERVED

 

(f)  Notice
of Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price as a result of the events described
in Section 1.6 of this Note, the Borrower shall, at its expense and within one (1) calendar day after the occurrence of each respective
adjustment or readjustment of the Conversion Price, compute such adjustment or readjustment and prepare and furnish to the Holder a certificate
setting forth (i) the Conversion Price in effect at such time based upon the Dilutive Issuance, (ii) the number of shares of Common Stock
and the amount, if any, of other securities or property which at the time would be received upon conversion of the Note, (iii) the detailed
facts upon which such adjustment or readjustment is based, and (iv) copies of the documentation (including but not limited to relevant
transaction documents) that evidences the adjustment or readjustment. In addition, the Borrower shall, within one (1) calendar day after
each written request from the Holder, furnish to such Holder a like certificate setting forth (i) the Conversion Price in effect at such
time based upon the Dilutive Issuance, (ii) the number of shares of Common Stock and the amount, if any, of other securities or property
which at the time would be received upon conversion of the Note, (iii) the detailed facts upon which such adjustment or readjustment
is based, and (iv) copies of the documentation (including but not limited to relevant transaction documents) that evidences the adjustment
or readjustment. For the avoidance of doubt, each adjustment or readjustment of the Conversion Price as a result of the events described
in Section 1.6 of this Note shall occur without any action by the Holder and regardless of whether the Borrower complied with the notification
provisions in Section 1.6 of this Note.

 

1.7 Status
as Stockholder. Upon submission of a Notice of Conversion by a Holder, (i) the Conversion Shares covered thereby shall be deemed
converted into shares of Common Stock and (ii) the Holder’s rights as a Holder of such converted portion of this Note shall cease
and terminate, excepting only the right to receive an electronic transfer of the Conversion Shares and to any remedies provided herein
or otherwise available at law or in equity to such Holder because of a failure by the Borrower to comply with the terms of this Note.

 

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1.8 Prepayment. At
any time prior to the date that an Event of Default occurs under this Note (the “Prepayment Period”), the Borrower shall
have the right, exercisable on three (3) Trading Days prior written notice to the Holder of the Note, to prepay the outstanding Principal
Amount and interest then due under this Note in accordance with this Section 1.8. Any notice of prepayment hereunder (an “Optional
Prepayment Notice”) shall be delivered to the Holder of the Note at its registered addresses and shall state: (1) that the Borrower
is exercising its right to prepay the Note, and (2) the date of prepayment which shall be three (3) Trading Days from the date of the
Optional Prepayment Notice (the “Optional Prepayment Date”). The Holder shall have the right, at all times prior to the actual
receipt of the full prepayment amount on the Optional Prepayment Date, to instead convert all or any portion of the Note pursuant to
the terms of this Note, including the amount of this Note to be prepaid by the Borrower in accordance with this Section 1.8. On the Optional
Prepayment Date, the Borrower shall make payment of the amounts designated below to or upon the order of the Holder as specified by the
Holder in writing to the Borrower. If the Borrower exercises its right to prepay the Note in accordance with this Section 1.8, the Borrower
shall make payment to the Holder of an amount in cash equal to the greater of (a) the sum of (i) the Principal Amount then outstanding plus (ii)
accrued and unpaid interest on the Principal Amount to the Optional Prepayment Date, and (b) the sum of (i) the Principal Amount
then outstanding plus (ii) interest on the Principal Amount for 183 days.

 

If the Borrower delivers an Optional Prepayment
Notice and fails to pay the applicable prepayment amount due to the Holder of the Note as provided in this Section 1.8, then the Borrower
shall forever forfeit its right to prepay any part of the Note pursuant to this Section 1.8.

 

1.9  Principal
Market Regulation. The Company shall not issue any shares of Common Stock upon conversion of this Note or otherwise pursuant to the
terms of this Note (taken together with the issuance of such shares upon the exercise of any securities convertible or exercisable into
Common Stock that are issued in connection with this Note (“Related Securities”)) if the issuance of such shares of Common
Stock would exceed the aggregate number of shares of Common Stock which the Company may issue upon conversion of the Notes or otherwise
pursuant to the terms of this Note or Related Securities (as the case may be) without breaching the Company’s obligations under
the rules or regulations of The Nasdaq Stock Market (the number of shares which may be issued without violating such rules and regulations,
including rules related to the aggregate of offerings under NASDAQ Listing Rule 5635(d), the “Exchange Cap”), except that
such limitation shall not apply in the event that the Company (A) obtains the approval of its stockholders as required by the applicable
rules of The Nasdaq Stock Market for issuances of shares of Common Stock in excess of such amount or (B) obtains a written opinion from
counsel to the Company that such approval is not required, which opinion shall be reasonably satisfactory to the Holder. Until such approval
or such written opinion is obtained, Holder shall not be issued in the aggregate, upon conversion or exercise (as the case may be) of
any Notes or any Related Securities or otherwise pursuant to the terms of the Notes or any Related Securities, shares of Common Stock
in an amount greater than the Exchange Cap. If, due to the Company’s failure to obtain the approval of its stockholders as required
by the applicable rules of The Nasdaq Stock Market, the Company is prohibited from issuing shares of Common Stock pursuant to this Section
1.9 (the “Exchange Cap Shares”), the Company shall pay cash in exchange for the cancellation of such portion of this Note
convertible into such Exchange Cap Shares at a price equal to the product of (x) such number of Exchange Cap Shares multiplied
by (y) the Closing Bid Price on the day before the Conversion Date (collectively, the “Exchange Cap Share Cancellation Amount”).

 

1.10  Representations
and Warranties of the Holder. In connection with the transactions contemplated by this Note, the Holder hereby represents and
warrants to the Company as follows:

 

(a)  Purchase
Entirely for Own Account. The Holder acknowledges that this Note is made with the Holder in reliance upon the Holder’s representation
to the Company, which the Holder hereby confirms by executing this Note, that this Note, and any Common Stock issuable upon conversion
of this Note (collectively, the “Securities”) will be acquired for investment for the Holder’s own account, not as a nominee
or agent (unless otherwise specified on the Holder’s signature page hereto), and not with a view to the resale or distribution of any
part thereof, and that the Holder has no present intention of selling, granting any participation in, or otherwise distributing the same.
By executing this Note, the Holder further represents that the Holder does not have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities. If other
than an individual, the Holder also represents it has not been organized solely for the purpose of acquiring the Securities.

 

    -7-

     

    

 

(b)  Disclosure
of Information; Non-Reliance. The Holder acknowledges that it has received all the information it considers necessary or appropriate
to enable it to make an informed decision concerning an investment in the Securities. The Holder further represents that it has had an
opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities.
The Holder confirms that the Company has not given any guarantee or representation as to the potential success, return, effect or benefit
(either legal, regulatory, tax, financial, accounting or otherwise) of an investment in the Securities. In deciding to purchase the Securities,
the Holder is not relying on the advice or recommendations of the Company and has made its own independent decision that the investment
in the Securities is suitable and appropriate for the Holder. The Holder understands that no federal or state agency has passed upon
the merits or risks of an investment in the Securities or made any finding or determination concerning the fairness or advisability of
this investment.

 

(c)  Investment
Experience. The Holder is an investor in securities of companies similar to the Company and acknowledges that it is able to fend
for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that
it is capable of evaluating the merits and risks of the investment in the Securities.

 

(d)  Accredited
Investor. The Holder is an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated under the Securities
Act. The Holder agrees to furnish any additional information requested by the Company or any of its affiliates to assure compliance with
applicable U.S. federal and state securities laws in connection with the purchase and sale of the Securities.

 

(e)  Restricted
Securities. The Holder understands that the Securities have not been, and will not be, registered under the Securities Act or state
securities laws, by reason of specific exemptions from the registration provisions thereof which depend upon, among other things, the
bona fide nature of the investment intent and the accuracy of the Holder’s representations as expressed herein. The Holder understands
that the Securities are “restricted securities” under U.S. federal and applicable state securities laws and that, pursuant
to these laws, the Holder must hold the Securities indefinitely unless they are registered with the SEC and registered or qualified by
state authorities, or an exemption from such registration and qualification requirements is available.

 

(f)  No
Public Market. The Holder understands that no public market now exists for the Note and that the Company has made no assurances that
a public market will ever exist for the Note.

 

(g)  No
General Solicitation. The Holder, and its officers, directors, employees, agents, stockholders or partners have not either directly
or indirectly, including through a broker or finder solicited offers for or offered or sold the Securities by means of any form of general
solicitation or general advertising within the meaning of Rule 502 of Regulation D under the Securities Act or in any manner involving
a public offering within the meaning of Section 4(a)(2) of the Securities Act. The Holder acknowledges that neither the Company nor any
other person offered to sell the Securities to it by means of any form of general solicitation or advertising within the meaning of Rule
502 of Regulation D under the Securities Act or in any manner involving a public offering within the meaning of Section 4(a)(2) of the
Securities Act.

 

(h)  Residence.
If the Holder is an individual, then the Holder resides in the state or province identified in the address shown on the Holder’s signature
page hereto. If the Holder is a partnership, corporation, limited liability company or other entity, then the Holder’s principal place
of business is located in the state or province identified in the address shown on the Holder’s signature page hereto.

 

(i)  Foreign
Investors. If the Holder is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as
amended), the Holder hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection
with any invitation to subscribe for the Securities, including (a) the legal requirements within its jurisdiction for the purchase of
the Securities; (b) any foreign exchange restrictions applicable to such purchase; (c) any governmental or other consents that may need
to be obtained; and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, conversion,
redemption, sale, or transfer of the Securities. The Holder’s subscription and payment for and continued beneficial ownership of the
Securities will not violate any applicable securities or other laws of the Holder’s jurisdiction. The Holder acknowledges that the Company
has taken no action in foreign jurisdictions with respect to the Securities.

 

    -8-

     

    

 

(j)  No
“Bad Actor” Disqualification. The Holder represents and warrants that neither (A) the Holder nor (B) any entity that controls
the Holder or is under the control of, or under common control with, the Holder, is subject to any of the “bad actor” disqualifications
described in Rule 506(d)(1)(i) through (viii), as modified by Rules 506(d)(2) and (d)(3), under the Securities Act (“Disqualification
Events”), except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed
in writing in reasonable detail to the Company. The Holder represents that the Holder has exercised reasonable care to determine the
accuracy of the representation made by the Holder in this paragraph and agrees to notify the Company if the Holder becomes aware of any
fact that makes the representation given by the Holder hereunder inaccurate. 

 

ARTICLE II.   RANKING
AND CERTAIN COVENANTS

 

2.1 Ranking
and Security. This Note shall have priority over all unsecured indebtedness of the Borrower other than other July Notes.

 

2.2 Other
Indebtedness. So long as the Borrower shall have any obligation under this Note, the Borrower shall not (directly or indirectly through
any Subsidiary or affiliate), without the Holder’s written consent, incur or suffer to exist or guarantee any unsecured indebtedness
that is senior to or pari passu with (in priority of payment and performance) the Borrower’s obligations hereunder, except
for the other July Notes.

 

2.3 Distributions
on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not without the Holder’s
written consent (a) pay, declare or set apart for such payment, any dividend or other distribution (whether in cash, property or other
securities) on shares of capital stock other than dividends on shares of Common Stock solely in the form of additional shares of Common
Stock or (b) directly or indirectly or through any subsidiary make any other payment or distribution in respect of its capital stock
except for distributions pursuant to any stockholders’ rights plan which is approved by a majority of the Borrower’s disinterested
directors.

 

2.4 Restriction
on Stock Repurchases and Debt Repayments. So long as the Borrower shall have any obligation under this Note, the Borrower shall
not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property
or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the Borrower
or any warrants, rights or options to purchase or acquire any such shares, or repay any pari passu or subordinated indebtedness of Borrower.

 

2.5 RESERVED

 

2.6 Advances
and Loans; Affiliate Transactions. So long as the Borrower shall have any obligation under this Note, the Borrower shall not,
without the Holder’s written consent, lend money, give credit, make advances to or enter into any transaction with any person,
firm, joint venture or corporation, including, without limitation, officers, directors, employees, subsidiaries and affiliates of the
Borrower, except loans, credits, advances or transactions (a) in existence or committed on the Issue Date and which the Borrower has
informed Holder in writing prior to the Issue Date, (b) in regard to transactions with unaffiliated third parties, those made in the
ordinary course of business or not in excess of $500,000, and/or (c) in regard to transactions with affiliates, those not in excess of
$120,000 or made in the ordinary course of business, including (i) payment of salary or consulting fees for services rendered, (ii) reimbursement
for expenses incurred on behalf of the Company and (iii) other employee benefits, including stock option agreements under any stock option
plan of the Company.

 

2.7 Section
3(a)(9) or 3(a)(10) Transaction. So long as this Note is outstanding, the Borrower shall not enter into any transaction or arrangement
structured in accordance with, based upon, or related or pursuant to, in whole or in part, either Section 3(a)(9) of the 1933 Act (a
“3(a)(9) Transaction”) or Section 3(a)(10) of the 1933 Act (a “3(a)(10) Transaction”). In the event that the
Borrower does enter into, or makes any issuance of Common Stock related to a 3(a)(9) Transaction or a 3(a)(10) Transaction while this
note is outstanding, a liquidated damages charge of $50,000, will be assessed and will become immediately due and payable to the Holder
at its election in the form of a cash payment or added to the balance of this Note.

 

    -9-

     

    

 

2.8 RESERVED

 

2.9 Noncircumvention.
The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate or Articles of Incorporation or Bylaws,
or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities,
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Note, and will at all
times in good faith carry out all the provisions of this Note and take all action as may be required to protect the rights of the Holder.

 

2.10 Lost,
Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company
in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company shall execute and deliver
to the Holder a new Note.

 

ARTICLE III. EVENTS OF DEFAULT

 

It shall be considered an
event of default if any of the following events listed in this Article III (each, an “Event of Default”) shall occur and
be continuing:

 

3.1 Failure
to Pay Principal or Interest. The Borrower fails to pay the Principal Amount hereof or interest thereon when due on this Note,
whether at maturity, upon acceleration or otherwise.

 

3.2 Conversion
and the Shares. The Borrower (i) fails to issue Conversion Shares to the Holder (or announces or threatens in writing that it
will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the terms
of this Note, (ii) fails to transfer or cause its transfer agent to electronically transfer (or issue) the Conversion Shares issuable
to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, (iii) the Borrower directs its
transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in electronically transferring (or issuing) the
Conversion Shares issuable to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, and
any such failure shall continue uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded
in writing) for two (2) Trading Days after the Holder shall have delivered a Notice of Conversion, and/or (iv) fails to remain current
in its obligations to its transfer agent (including but not limited to payment obligations to its transfer agent). It shall be an Event
of Default of this Note, if a conversion of this Note is delayed, hindered or frustrated due to a balance owed by the Borrower to its
transfer agent. If at the option of the Holder, the Holder advances any funds to the Borrower’s transfer agent in order to process
a conversion, such advanced funds shall be added to the principal balance of the Note.

 

3.3 Breach
of Representations and Warranties. Any representation or warranty of the Borrower made in this Note, or in any agreement, statement
or certificate given in writing pursuant hereto or in connection herewith or therewith shall be false or misleading in any material respect
when made and the breach of which has (or with the passage of time will have) a material adverse effect on the rights of the Holder with
respect to this Note.

 

3.4 Receiver
or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply for
or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a receiver
or trustee shall otherwise be appointed.

 

3.5 Judgments. Any
money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary of the Borrower or any of its
property or other assets for more than $250,000, and shall remain unvacated, unbonded or unstayed for a period of twenty (20) days unless
otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.6 Bankruptcy. Bankruptcy,
insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under any bankruptcy
law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the Borrower and shall not
be dismissed within thirty (30) days of their initiation.

 

    -10-

     

    

 

3.7 Failure
to Comply with the Exchange Act. At any time after the Issue Date, the Borrower shall fail to comply with the reporting requirements
of the Exchange Act and/or the Borrower shall cease to be subject to the reporting requirements of the Exchange Act.

 

3.8 Liquidation. Any
dissolution, liquidation, or winding up of Borrower.

 

3.9 Cessation
of Operations. Any complete cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its
debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going
concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.10 Maintenance
of Assets. The failure by Borrower to maintain any material intellectual property rights, personal, real property or other assets
which are necessary to conduct its business (whether now or in the future).

 

3.11 Financial
Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC for any date or period
from two years prior to the Issue Date of this Note and until this Note is no longer outstanding.

 

3.12 Cross-Default.
The declaration of an event of default by any lender or other extender of credit of $500,000 or more to the Company under any notes,
loans, agreements or other instruments of the Company evidencing any indebtedness of the Company (including those filed as exhibits to
or described in the Company’s filings with the SEC), after the passage of all applicable notice and cure or grace periods.

 

3.13 Inside
Information. Any attempt by the Borrower or its officers, directors, and/or affiliates to transmit, convey, disclose, or any actual
transmittal, conveyance, or disclosure by the Borrower or its officers, directors, and/or affiliates of, material non-public information
concerning the Borrower, to the Holder or its successors and assigns, which is not immediately cured by Borrower’s filing of a
Form 8-K pursuant to Regulation FD on that same date.

 

3.14 Delisting,
Suspension, or Quotation of Trading of Common Stock. If, at any time on or after the Issue Date, the Borrower’s Common Stock
(i) is suspended from trading, (ii) halted from trading, and/or (iii) fails to be quoted or listed (as applicable) on The NASDAQ Stock
Market LLC, or its successor or another national exchange.

 

3.15 Market
Capitalization. The Borrower fails to maintain a market capitalization of at least $5,000,000 on any Trading Day, which shall be
calculated by multiplying (i) the Closing Bid Price of the Borrower’s common stock on the Trading Day immediately preceding the
respective date of calculation by (ii) the total shares of the Borrower’s common stock issued and outstanding on the Trading Day
immediately preceding the respective date of calculation.

 

3.16 Registration
Statement Failures. The Borrower fails to (i) file a registration statement covering the Holder’s resale at prevailing market
prices (and not fixed prices) of the Conversion Shares (the “Registration Statement”) within ninety (90) calendar days following
the date on which the Conversion Shares are issued to Holder, (ii) cause the Registration Statement to become effective within one hundred
twenty (120) calendar days following the date that the Registration Statement is initially filed, (iii) cause the Registration Statement
to remain effective until the Note is extinguished in its entirety, or (iv) immediately amend the Registration Statement or file a new
Registration Statement if there are no longer sufficient shares registered under the initial Registration Statement for the Holder’s
resale at prevailing market prices (and not fixed prices) of all of the Common Stock underlying the Note.

 

    -11-

     

    

 

3.17 Rights
and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in this Article III, this Note shall
become immediately due and payable, and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount
equal to the Principal Amount then outstanding plus accrued interest (including any Default Interest) through the date of full repayment
multiplied by 110% (collectively the “Default Amount”), as well as all costs, including, without limitation, legal fees and
expenses, of collection, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower. Holder
may, in its sole discretion, determine to accept payment part in Common Stock and part in cash. For purposes of payments in Common Stock,
the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be entitled
to exercise all other rights and remedies available at law or in equity.

 

ARTICLE IV. MISCELLANEOUS

 

4.1 Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercise thereof or of any other right, power or privileges. All rights and remedies of the Holder existing hereunder are cumulative
to, and not exclusive of, any rights or remedies otherwise available.

 

4.2 Notices. All
notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless
otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt requested,
postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by e-mail, addressed as set
forth below or to such other address as such party shall have specified most recently by written notice. Any notice or other communication
required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by e-mail, at the address or
number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to
be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to
such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the Borrower, to:

 

MAWSON INFRASTRUCTURE GROUP, INC.

 

Level 5 / 97 Pacific Highway

North Sydney, New South Wales, 2060

Attention: James Manning

e-mail: james@mawsoninc.com

 

copy to: General Counsel, legal@mawsoninc.com

 

If to the Holder:

 

[insert]

 

4.3 Amendments. This
Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The term “Note”
and all reference thereto, as used throughout this instrument, shall mean this instrument as originally executed, or if later amended
or supplemented, then as so amended or supplemented.

 

4.4 Assignability. This
Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit of the Holder and its successors
and assigns. Neither party may assign this Note or any rights or obligations hereunder without the prior written consent of the of the
other party, such consent not to be unreasonably withheld. The Holder and any assignee, by acceptance of this Note, acknowledge and agree
that following conversion of a portion of this Note, the unpaid and unconverted principal amount of this Note represented by this Note
may be less than the amount stated on the face hereof.

 

    -12-

     

    

 

4.5 Cost of Collection. If
default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection, including reasonable attorneys’
fees.

 

4.6 Governing Law;
Venue; Attorney’s Fees. This Note shall be governed by and construed in accordance with the laws of the State of Delaware
without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Note or any other agreement, certificate, instrument or document contemplated hereby shall be brought only in the state courts
located in the State of Delaware or federal courts located in the State of Delaware. The Borrower hereby irrevocably waives any objection
to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue
or based upon forum non conveniens. THE BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT
TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTIONS
CONTEMPLATED HEREBY. Each party hereby irrevocably waives personal service of process and consents to process being served in
any suit, action or proceeding in connection with this Note or any other agreement, certificate, instrument or document contemplated
hereby or thereby by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such
party at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner
permitted by law. The prevailing party in any action or dispute brought in connection with this the Note or any other agreement, certificate,
instrument or document contemplated hereby or thereby shall be entitled to recover from the other party its reasonable attorney’s
fees and costs.

 

4.7 Certain
Amounts. Whenever pursuant to this Note the Borrower is required to pay an amount in excess of the outstanding Principal Amount
(or the portion thereof required to be paid at that time) plus accrued and unpaid interest plus Default Interest on such interest, the
Borrower and the Holder agree that the actual damages to the Holder from the receipt of cash payment on this Note may be difficult to
determine and the amount to be so paid by the Borrower represents stipulated damages and not a penalty and is intended to compensate
the Holder in part for loss of the opportunity to convert this Note and to earn a return from the sale of shares of Common Stock acquired
upon conversion of this Note at a price in excess of the price paid for such shares pursuant to this Note. The Borrower and the Holder
hereby agree that such amount of stipulated damages is not plainly disproportionate to the possible loss to the Holder from the receipt
of a cash payment without the opportunity to convert this Note into shares of Common Stock.

 

4.8 Notice
of Corporate Events. Except as otherwise provided below, the Holder of this Note shall have no rights as a holder of Common
Stock unless and only to the extent that it converts this Note into Common Stock. The Borrower shall provide the Holder with prior notification
of any meeting of the Borrower’s stockholders (and copies of proxy materials and other information sent to stockholders).

 

4.9 Remedies. The
Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating the intent
and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for a breach of its
obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the Borrower of the provisions
of this Note, that the Holder shall be entitled, in addition to all other available remedies at law or in equity, and in addition to
the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach of this Note and to enforce
specifically the terms and provisions thereof, without the necessity of showing economic loss and without any bond or other security
being required.

 

4.10 Construction;
Headings. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any person
as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part of, or affect the interpretation
of, this Note.

 

    -13-

     

    

 

4.11 Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and will
resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any time hereafter
in force, in connection with any action or proceeding that may be brought by the Holder in order to enforce any right or remedy under
this Note. Notwithstanding any provision to the contrary contained in this Note, it is expressly agreed and provided that the total liability
of the Company under this Note for payments which under the applicable law are in the nature of interest shall not exceed the maximum
lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the foregoing, in no event shall
any rate of interest or default interest, or both of them, when aggregated with any other sums which under the applicable law in the
nature of interest that the Company may be obligated to pay under this Note exceed such Maximum Rate. It is agreed that if the maximum
contract rate of interest allowed by applicable law and applicable to this Note is increased or decreased by statute or any official
governmental action subsequent to the Issue Date, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable
to this Note from the effective date thereof forward, unless such application is precluded by applicable law. If under any circumstances
whatsoever, interest in excess of the Maximum Rate is paid by the Company to the Holder with respect to indebtedness evidenced by this
the Note, such excess shall be applied by the Holder to the unpaid principal balance of any such indebtedness or be refunded to the Company,
the manner of handling such excess to be at the Holder’s election.

 

4.12 Severability. In
the event that any provision of this Note is invalid or unenforceable under any applicable statute or rule of law (including any judicial
ruling), then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to
conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision of this Note.

 

4.13 Dispute
Resolution. In the case of a dispute as to the determination of the Conversion Price, Conversion Amount, any prepayment amount or
Default Amount, Issue, Closing or Maturity Date, the Closing Bid Price, or fair market value (as the case may be) or the arithmetic calculation
of the Conversion Price or the applicable prepayment amount(s) (as the case may be), the Borrower or the Holder shall submit the disputed
determinations or arithmetic calculations via email (i) within one (1) Trading Day after receipt of the applicable notice giving rise
to such dispute to the Borrower or the Holder or (ii) if no notice gave rise to such dispute, at any time after the Holder learned of
the circumstances giving rise to such dispute. If the Holder and the Borrower are unable to agree upon such determination or calculation
within one (1) Trading Day of such disputed determination or arithmetic calculation (as the case may be) being submitted to the Borrower
or the Holder, then the Borrower shall, within one (1) Trading Day, submit (a) the disputed determination of the Conversion Price, the
Closing Bid Price, the or fair market value (as the case may be) to an independent, reputable investment bank selected by the Borrower
and approved by the Holder or (b) the disputed arithmetic calculation of the Conversion Price, Conversion Amount, any prepayment amount
or Default Amount, to an independent, outside accountant selected by the Holder that is reasonably acceptable to the Borrower. The Borrower
shall cause at its expense the investment bank or the accountant to perform the determinations or calculations and notify the Borrower
and the Holder of the results no later than one (1) Trading Day from the time it receives such disputed determinations or calculations.
Such investment bank’s or accountant’s determination or calculation shall be binding upon all parties absent demonstrable
error.

 

[signature page follows]

 

    -14-

     

    

 

IN WITNESS WHEREOF, the parties below have
caused this Note to be signed by its duly authorized officer on July _____, 2022.

 

MAWSON INFRASTRUCTURE GROUP, INC.

 

	By:	 	 
	 	Name:  	James Manning	 
	 	Title: 	Chief Executive Officer	 

 

[HOLDER]

 

	By:	 	 
	 	Name: 	 
	 	Title: 	 
	 	Address:	 

 

     

     

    

 

EXHIBIT A -- NOTICE OF CONVERSION

 

The undersigned, on behalf
of [___________] a [company incorporated under the laws of JURISDICTION] (“Holder”) refers to the convertible promissory
note dated July _____, 2022 (the “Note”), and hereby elects to convert $________ due under the Note into that number of shares
of Common Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of MAWSON
INFRASTRUCTURE GROUP, INC., a Delaware corporation (the “Borrower”), according to the conditions of the Note, as of the
date written below. No fee will be charged to the Holder for any conversion, except for transfer taxes, if any. Holder shall provide
all details requested by Borrower in a timely fashion in order for the Borrower to effect the issue of the Common Stock.

 

	By: 	 	 
	Name:	 	 
	Title:	 	 
	Date:Exhibit 4.1

Advisors Asset Management, Inc.

18925 Base Camp Road

Monument, Colorado 80132

July 14, 2022

 

Advisors Disciplined Trust 2119

c/o The Bank of New York Mellon, as Trustee

240 Greenwich Street, 22W Floor

New York, NY 10286

 

Re: Advisors Disciplined Trust 2119 (the “Fund”)

Ladies and Gentlemen:

We have examined the Registration
Statement File No. 333-265680 for the above captioned Fund. We hereby consent to the use in the Registration Statement of the references
to Advisors Asset Management, Inc. as evaluator.

You are hereby authorized
to file a copy of this letter with the Securities and Exchange Commission.

 

	 	Very truly yours,
	 	 	 
	 	Advisors Asset Management, Inc.
	 	 	 
	 	 	 
	 	By	/s/ ALEX R. MEITZNER
	 	 	Alex R. Meitzner
	 	 	Senior Vice President

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