Document:

EX-10.7

 Exhibit 10.7 

NOTE 
  

			
	$45,000,000	  	January 9, 2019

 PAR PACIFIC HOLDINGS, INC., a Delaware corporation (the “Borrower”), promises to pay to the order of
BANK OF HAWAII, a Hawaii corporation (the “Bank”), the principal sum of $45,000,000, together with interest on outstanding principal balances hereunder, computed on the basis of the actual number of days elapsed between payments and based
on a 360-day year, as set forth below. 
 1. Interest Rate; Payments 

(a) During the term of this Note (the “Term”), the interest rate on the outstanding principal balance shall be a floating rate equal
to 3.50% above the applicable LIBOR for the Interest Period, which interest rate shall be subject to adjustment on the first day of each calendar month during the Term. 

(b) During the Term, payments of accrued interest only shall be made on the first day of each calendar month, beginning with the payment due on
February 1, 2019 and ending with the payment due on July 1, 2019. 
 (c) The entire unpaid principal balance and all accrued and
theretofore unpaid interest thereon shall be due and payable in full on July 9, 2019, unless sooner due as hereinafter provided. 
 (d)
Each installment payment is to be applied when received first to the payment of accrued interest and then to the reduction of outstanding principal. 

2. Prepayments 
 (a) From
time to time, the Borrower may make voluntary prepayments of principal under this Note, in whole or in part, with no prepayment privilege fee or premium. 

(b) All prepayments of principal under this Note shall be applied against mandatory principal payments of the most remote maturity. 

3. Loan Fees 
 In addition
to all the payments due under this Note, on or before the date the Loan is disbursed, the Borrower shall pay the Bank $225,000, which is the Loan fee owing to the Bank. Also, the Borrower shall pay a $250,000 fee to the Bank if the Loan is not
repaid on or before March 31, 2019, and another $250,000 fee if the Loan is not repaid on or before April 30, 2019. 

 4. Place and Date of Payment 

All payments under this Note shall be made in immediately available U.S. funds at the Bank’s Loan Operations Department #298, P. O. Box
2715, Honolulu, Hawaii 96803, or at such other place as the Bank shall have designated in a written notice delivered to the Borrower. Whenever any payment to be made under this Note is due on a day that is not a Business Day, payment shall be made
on the next succeeding Business Day and the extension of time shall be included in the computation of interest. 
 5. Late Charge 

If any payment due under this Note is not received by the Bank within 10 days after its due date, the Borrower shall pay to the Bank a late
charge in respect of that payment, in the amount of 5.0% of the overdue portion of the payment. 
 6. Events of Default. 

The occurrence of any one or more of the following events shall constitute an Event of Default hereunder and under the other Loan Documents:

 (a) The Borrower shall fail to pay when due any sum payable under this Note, and such failure shall continue for a period of 10 days. 

(b) The Borrower shall fail to observe or perform any other obligation to be observed or performed by the Borrower under any of the Loan
Documents and such failure shall continue for 30 days after written notice of such failure from the Bank to the Borrower. 
 (c) Any
financial statement, other statement, representation, warranty or certificate made or furnished by the Borrower to the Bank shall be materially false, incorrect, or incomplete when made or delivered. 

(d) The Borrower shall admit its inability to pay its debts as they mature, or shall make an assignment for the benefit of its creditors. 

(e) A decree or order for relief shall be entered by a court having jurisdiction in respect of the Borrower in an involuntary case under the
federal Bankruptcy Code or any other applicable federal or state bankruptcy, insolvency or similar law, or a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) shall be appointed for the Borrower or for any
substantial part of its property, and any such decree or order shall continue unstayed and in effect for a period of 60 consecutive days. 

  
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 (f) The Borrower shall commence a voluntary case under the federal Bankruptcy Code or any
other applicable federal or state bankruptcy, insolvency or similar law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of any substantial
part of its property. 
 (g) There shall be an “Event of Default” under any other financing or loan made by the Bank to the
Borrower or to the Borrower’s subsidiaries. 
 7. Acceleration; Default Rate 

If any Event of Default shall occur and be continuing, the entire principal sum and accrued interest thereon, together with costs and (to the
extent permitted under applicable law) reasonable attorneys’ fees incurred by the Bank in collecting or enforcing payment, shall, at the option of the Bank, immediately become due and payable, anything herein contained to the contrary
notwithstanding, time being of the essence. In an Event of Default, the Bank shall also have any and all other rights and remedies under the Loan Documents, by applicable law or in equity. If an Event of Default shall occur and be continuing, the
Bank, at its option, even if acceleration has not occurred, may increase the interest rate on the outstanding principal balance under this Note to the Default Rate. The whole of the outstanding principal sum shall bear interest at the Default Rate
from and after maturity whether or not resulting from acceleration. 
 8. Definitions. As used in this Note: 

(a) “Base Rate” means the primary index rate established from time to time in good faith by the Bank in the ordinary course of its
business and with due consideration of the money market, and published by intrabank circular letters or memoranda for the guidance of its loan officers in pricing all of its loans which float with the Base Rate. A change in the Base Rate shall take
effect on the date upon which a change in the Base Rate is announced, with or without notice to the Borrower. 
 (b) “Business Day”
means any day on which the main branch of the Bank in Honolulu is open to the public for business and a day on which dealings are carried on in the interbank market(s) used to determine LIBOR. 

(c) “Default Rate” means interest at a floating rate four percentage points (4%) above the Base Rate, or at a fixed rate of 18% per
year, whichever is greater at any time. 

  
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 (d) “Interest Period” means a period of one (1) month, beginning on the first
day of the calendar month and ending on the last day of that month; provided, however, that the first Interest Period under this Note shall begin on the date that the Loan is disbursed and end on the last day of the month in which the disbursement
is made, and LIBOR for that first Interest Period shall still be based on a one month Interest Period. 
 (e) “LIBOR” means the
reserve-adjusted rate of interest per annum, rounded if necessary, to the nearest four (4) decimal places, at which U.S. dollar deposits in immediately available funds are offered to major banks in the interbank market. The Bank shall establish
LIBOR for each Interest Period based on offered rates as reported by reporting services generally used by the Bank. Rates are quoted based on both the Interest Period and the outstanding principal balance of the Loan. The interest rate change will
not occur more often than once each month and will be the rate on the day which is two (2) Business Days prior to the first day of each calendar month. Such rate shall incorporate the following adjustment for any reserve requirements relative
to dollar deposits, placed on the Bank by any regulatory body: 
  

					
		  	                LIBOR (Unadjusted)              	  	
	LIBOR (Reserve Adjusted)   =	  	(100% - LIBOR Reserve Requirement)	  	

 In the event LIBOR for any Interest Period would be less than 0.0% per annum, then the LIBOR rate for such
Interest Period shall be deemed to be 0.0% per annum. The Bank’s determination of LIBOR shall be binding and conclusive upon the Borrower absent manifest error. The Bank’s LIBOR rate is not intended to serve any purpose other than
providing an index to determine the interest rate used under this Note. 
 (f) “LIBOR Reserve Requirement” means the then maximum
effective rate per annum (expressed as a percentage), as determined solely by the Bank, of reserve requirements imposed by any regulatory body (such as those pursuant to Regulation D of the Board of Governors of the Federal Reserve System) on LIBOR
liabilities of U.S. banks having a term to maturity equal to the Interest Period; and as adjusted by the Bank for changes or scheduled changes in such percentage during the Interest Period. 

(g) “Loan” means the $45,000,000 loan evidenced by this Note. 

(h) “Loan Documents” means this Note, that certain Loan Agreement dated on or about the date hereof, made by and between the Borrower
and the Bank, and any and all other documents which evidence or secure the Loan, including all amendments thereto. 

  
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 9. Miscellaneous 

(a) LIBOR Provisions. Notwithstanding anything to the contrary contained in this Note, the Borrower agrees that the following shall
apply to the interest rate based on LIBOR: 
 (i) If the Bank determines (which determination shall be conclusive absent manifest
error) that LIBOR is unavailable, unascertainable or illegal, or fails adequately to reflect the cost of making loans based on LIBOR, but such circumstances are likely to exist for less than three (3) consecutive Interest Periods, then the Bank
shall forthwith give notice thereof to the Borrower, whereupon (until such time as the Bank notifies the Borrower that such circumstances no longer exist), LIBOR shall be replaced with a rate equal to the Fed Funds Rate plus 50 basis points.

 As used herein, “Fed Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such
period to the weighted average of the rates on overnight Federal Funds transactions with members of the Federal Reserve System arranged by Federal Funds brokers, as published for such day (or, if such day is not a Business Day, for the next
preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Bank from three Federal Funds
brokers of recognized standing selected by the Bank; provided, however, that if the Fed Funds Rate determined as provided above would be less than zero percent (0.0%), then the Fed Funds Rate shall be deemed to be zero percent (0.0%). 

(ii) If the Bank determines that any of the following conditions exist (which determination shall be conclusive absent manifest error):

 (1) LIBOR is unavailable, unascertainable or illegal, or fails adequately to reflect the cost of making loans based on LIBOR, 

(2) LIBOR is no longer a widely recognized benchmark rate for newly originated loans in the United States commercial real estate loan market,
or 
 (3) LIBOR shall no longer be used for determining rates in the United States commercial real estate loan market within the upcoming 6
months, as specified by any administrator for any service providing such LIBOR quotes, 
 then the Bank will establish a replacement rate
for LIBOR (the “Replacement Rate”), based on the prevailing market convention for determining a rate of interest for commercial real estate loans in the United States at such time and similar transactions in which the Bank is serving as
lender. The Bank shall notify the Borrower of the Replacement Rate, and the Replacement Rate shall replace LIBOR in determining 

  
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the applicable interest rate for the Loans, notwithstanding anything to the contrary set forth in provisions of the Loan Documents relating to amendments, unless the Bank shall have
received, within five (5) Business Days of the date notice of the Replacement Rate is provided to the Borrower, a written notice from the Borrower stating that the Borrower objects to the Replacement Rate (which such notice shall state with
specificity the reasons for such objection). If the Borrower so objects to the Replacement Rate and until the Bank and the Borrower agree upon another rate to replace LIBOR, LIBOR shall be replaced with an interest rate equal to the Fed Funds Rate
plus 50 basis points, without the need for consent from the Borrower or a written amendment to any Loan Document, notwithstanding anything to the contrary set forth in the Loan Documents. 

(iii) If, after the date hereof, the adoption of any applicable law, rule or regulation, or any change therein, or any change in the
interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof or compliance by the Bank with any request or directive (whether or not having the
force of law) of any such authority, central bank or comparable agency: 
 (1) Shall subject the Bank to any tax, duty or other charge with
respect to an interest rate based on LIBOR, or shall change the basis of taxation of payments to the Bank of the principal of or interest or in respect of any other amounts due under this Note because of an interest rate based on LIBOR (except for
changes in the rate of tax on the overall net income or gross income of the Bank); or 
 (2) Shall impose, modify or deem applicable any
reserve (including, without limitation, any imposed by the Board of Governors of the Federal Reserve System, but excluding any included in the LIBOR Reserve Requirement described in this Note), special deposit or similar requirement against assets
of, deposits with or for the account of, or credit extended by, the Bank; 
 and the result of any of the foregoing is to increase the cost to the Bank of
making or maintaining the Loan with an interest rate based on LIBOR, or to reduce the amount of any sum received or receivable by the Bank under this Note, by an amount deemed by the Bank to be material, then, within 15 Business Days after demand by
the Bank, supported by a certification showing in reasonable detail the calculation and amount of such increased costs or reduction, the Borrower agrees to pay to the Bank, such additional amount or amounts as will compensate the Bank for such
increased cost or reduction of receivables. The Bank shall promptly notify the Borrower of any event of which it has knowledge, occurring after the date hereof, which will entitle the Bank to compensation pursuant to this paragraph. A certificate of
the Bank claiming compensation under this section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, the Bank may use any reasonable
averaging and attribution methods. 

  
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 (b) Governing Law; Jurisdiction. This Note is to be construed in accordance with, and
governed by, the laws of the State of Hawaii. The Borrower irrevocably consents and submits to the exclusive jurisdiction of the state courts of the State of Hawaii and the United States District Court for the District of Hawaii with respect to any
action instituted under this Note or any other Loan Document. 
 (c) Waiver and Consent. The Borrower and all endorsers and all other
persons liable on this Note waive demand, protest and notice of demand, protest and nonpayment and consent to any and all renewals and extensions in time of payment hereof and further agree that at any time the terms of the payment hereof may be
modified or security released, by agreement between the Bank and any owner of the premises affected by the instruments securing this Note without affecting the liability of any party to this Note or of any person liable or to become liable with
respect to any indebtedness evidenced hereby. In any action or proceeding to recover any sum herein provided for, no defense of adequacy of security or that resort must first be had to any security or to any other person shall be asserted. 

(d) Successors and Assigns. All of the covenants, provisions and conditions herein contained are made on behalf of, and shall apply to
and bind, the successors and assigns of the Borrower and inure to the benefit of the successors and assigns of the Bank. 
 10. Waiver of
Jury Trial 
 The Borrower and, by its acceptance of this Note, the Bank hereby waive their respective rights to a trial before a jury in
connection with any dispute, proceeding or claim arising out of, or in any way related to, the Loan, this Note, or any of the other Loan Documents. 
  

			
	PAR PACIFIC HOLDINGS, INC.,
a Delaware corporation
		
	By	 	 /s/ William Monteleone

		 	Name: Will Monteleone
		 	Title: CFO

  
 7CERTIFICATE
OF DESIGNATION OF

12% SERIES B PREFERRED STOCK OF

MGT CAPITAL INVESTMENTS, INC.

 

MGT
Capital Investments, Inc., a corporation organized and existing under the General Corporation Law of the State of Delaware (the
“Company”), DOES HEREBY CERTIFY:

 

That,
pursuant to authority vested in the Board of Directors of the Company by its Restated Certificate of Incorporation, and pursuant
to the provisions of Section 151 of the General Corporation Law of the State of Delaware (the “DGCL”), the
Board of Directors of the Company has adopted the following resolution providing for the issuance of a series of Preferred Stock:

 

RESOLVED,
that pursuant to the authority expressly granted in the Board of Directors of the Company by the Restated Certificate of Incorporation
of the Company, a series of Preferred Stock, par value $0.001 per share, of the Company be, and it hereby is, created, and that
the designation and amount thereof and the powers, designations, preferences and relative, participating, optional and other special
rights of the shares of such series, and the qualifications, limitations or restrictions thereof are as follows:

 

1.
Designation and Number of Shares. There shall hereby be created and established by this Certificate of Designation (this
“Certificate of Designation”) a series of preferred stock of the Company designated as “12% Series B
Preferred Stock” (the “Preferred Shares”). The authorized number of Preferred Shares shall be 10,000
shares. Each Preferred Share shall have $0.001 par value.

 

2.
Ranking. With respect to the payment of dividends and distribution of amounts of the Company’s net assets upon a
dissolution, liquidation or winding up of the Company, the Series B Preferred ranks senior to the Common Stock and any other class
or series of the Company’s stock over which the Series B Preferred has preference or priority in the payment of dividends
or in the distribution of assets on liquidation, as the case may be, to which is referred to herein as “Junior Stock”,
equally with any other class or series of Company stock that ranks on a par with the Series B Preferred in the payment of dividends
or in the distribution of assets on liquidation, as the case may be, which is referred to herein as “Parity Stock,”
and junior, in all matters expressly provided, to any class or series of Preferred Stock specifically ranking by its terms senior
to the Series B Preferred in the payment of dividends or in the distribution of assets on liquidation, as the case may be, which
is referred to herein as “Senior Stock”.

 

3.
Dividends. From and after the date of issuance of any Preferred Shares (the “Initial Issuance Date”),
each holder of a Preferred Share (each, a “Holder” and, collectively, the “Holders”) shall
be entitled to receive, when, as and if declared by the Board of Directors of the Company, out of funds legally available for
such purpose, dividends (“Dividends”) in cash at the rate of 12% of the Stated Value per annum on each of the
Preferred Share, paid quarterly in arrears. Such dividends shall be cumulative and shall accrue without interest from the date
of issuance of the respective share of Preferred Shares.

 

    	 

     

    

 

4.
Voting Rights. Except as otherwise expressly required by law, each Holder shall be entitled to vote on all matters submitted
to stockholders of the Company and shall be entitled to 55,000 votes for each Preferred Share owned at the record date for the
determination of stockholders entitled to vote on such matter or, if no such record date is established, at the date such vote
is taken or any written consent of stockholders is solicited. Except as otherwise required by law, the Holders shall vote together
with the holders of Common Stock on all matters and shall not vote as a separate class.

 

5.
Liquidation, Dissolution, Winding-Up. In the event of a Liquidation Event, following any required payments to holders of
any shares of Senior Stock, the Holder shall be entitled to receive, for each Preferred Share, the Stated Value in cash out of
the assets of the Company, whether from capital or from earnings available for distribution to its stockholders, which payment
shall be made equally with any payments to be made to holders of any shares of Parity Stock, before any amount shall be paid to
the holders of any of shares of Junior Stock.

 

6.
Optional Redemption by Company. At any time after the Initial Issuance Date, the Company may offer to buy, and the Holder
shall be required to sell, any Preferred Shares at the Stated Value, plus any accrued but unpaid dividends.

 

7.
Optional Redemption by Holder. At any time after the one year anniversary of the Initial Issuance Date, the Holder may
offer to sell, and the Company shall be required to buy, any Preferred Shares at one-half of the Stated Value, plus any accrued
but unpaid dividends.

 

8.
Conversion. The Preferred Shares are not convertible in to shares of Common Stock.

 

9.
Non-transferable. Neither the Preferred Shares nor an rights, powers, preferences or privileges thereunder shall be transferable,
in whole or in part, without the consent of the Company.

 

10.
Lost or Stolen Certificates. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of any certificates representing Preferred Shares (as to which a written certification and the
indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or destruction, of an indemnification
undertaking by the applicable Holder to the Company in customary and reasonable form and, in the case of mutilation, upon surrender
and cancellation of the certificate(s), the Company shall execute and deliver new certificate(s) of like tenor and date.

 

    	2

     

    

 

 

11.
Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in this Certificate
of Designation shall be cumulative and in addition to all other remedies available under this Certificate of Designation and any
other remedies as shall be available to the holder of Preferred Shares, at law or in equity (including a decree of specific performance
and/or other injunctive relief), and no remedy contained herein shall be deemed a waiver of compliance with the provisions giving
rise to such remedy. Nothing herein shall limit any Holder’s right to pursue actual and consequential damages for any failure
by the Company to comply with the terms of this Certificate of Designation. The Company covenants to each Holder that there shall
be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein
with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by a Holder
and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof).
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holders and that
the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or
threatened breach, each Holder shall be entitled, in addition to all other available remedies, to seek an injunction restraining
any such breach or any such threatened breach, without the necessity of showing economic loss and without any bond or other security
being required. The Company shall provide all information and documentation to a Holder that is reasonably requested by such Holder
to enable such Holder to confirm the Company’s compliance with the terms and conditions of this Certificate of Designation.

 

12.
Noncircumvention. The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate of
Incorporation, 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 Certificate of Designation, and will at all times in good faith carry out all of the provisions of this Certificate
of Designation and take all action as may be required to protect the rights of the Holders.

 

13.
Failure or Indulgence Not Waiver. No failure or delay on the part of a 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 privilege. No waiver shall be effective unless it is in writing
and signed by an authorized representative of the waiving party. This Certificate of Designation shall be deemed to be jointly
drafted by the Company and all Holders and shall not be construed against any Person as the drafter hereof.

 

14.
Notices. The Company shall provide each Holder of Preferred Shares with prompt written notice of all actions taken pursuant
to the terms of this Certificate of Designation, including in reasonable detail a description of such action and the reason therefor.

 

15.
Preferred Shares Register. The Company shall maintain at its principal executive offices (or such other office or agency
of the Company as it may designate and provide notice to the Holders thereof), a register for the Preferred Shares, in which the
Company shall record the name, address and facsimile number of the Persons in whose name the Preferred Shares have been issued,
as well as the name, address, facsimile number and tax identification number of each transferee. The Company may treat the Person
in whose name any Preferred Shares is registered on the register as the owner and holder thereof for all purposes, notwithstanding
any notice to the contrary, but in all events recognizing any properly made transfers.

 

16.
Stockholder Matters; Amendment.

 

(a)
Stockholder Matters. Any stockholder action, approval or consent required, desired or otherwise sought by the Company pursuant
to the DGCL, the Certificate of Incorporation, this Certificate of Designation or otherwise with respect to the issuance of Preferred
Shares may be effected by written consent of the Company’s stockholders or at a duly called meeting of the Company’s
stockholders, all in accordance with the applicable rules and regulations of the DGCL. This provision is intended to comply with
the applicable sections of the DGCL permitting stockholder action, approval and consent affected by written consent in lieu of
a meeting.

 

    	3

     

    

 

(b)
Amendment. This Certificate of Designation or any provision hereof may be amended by obtaining the affirmative vote at
a meeting duly called for such purpose, or written consent without a meeting in accordance with the DGCL, of the Required Holders,
voting separate as a single class, and with such other stockholder approval, if any, as may then be required pursuant to the DGCL
and the Certificate of Incorporation.

 

17.
Certain Defined Terms. For purposes of this Certificate of Designation, the following terms shall have the following meanings:

 

(a)
“Common Stock” means (i) the Company’s shares of common stock, par value $0.001 per share, and (ii) any
capital stock into which such common stock shall have been changed or any share capital resulting from a reclassification of such
common stock.

 

(b)
“Liquidation Event” means, whether in a single transaction or series of transactions, the voluntary or involuntary
liquidation, dissolution or winding-up of the Company or such subsidiaries the assets of which constitute all or substantially
all of the assets of the business of the Company and its subsidiaries, taken as a whole.

 

(c)
“Person” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a
trust, an unincorporated organization, any other entity or a government or any department or agency thereof.

 

(d)
 “Stated Value” shall mean $120 per share, subject to adjustment for stock splits, stock dividends, recapitalizations,
reorganizations, reclassifications, combinations, subdivisions or other similar events occurring after the Initial Issuance Date
with respect to the Preferred Shares.

 

(e)
“Unpaid Dividend Amount” means, as of the applicable date of determination, with respect to each Preferred
Share, all accrued and unpaid Dividends on such Preferred Share.

 

18.
Miscellaneous.

 

(a)
The headings herein are for convenience only, do not constitute a part of this Certificate of Designation and shall not be deemed
to limit or affect any of the provisions hereof.

 

(b)
No provision of this Certificate of Designations may be amended, except in a written instrument signed by the Company and the
holders of at least a majority of the outstanding Preferred Shares (the “Required Holders”). Any of the rights
of the Holders set forth herein may be waived by the affirmative vote or by written consent of the Required Holders, except that
each Holder may waive its own rights as provided in this Certificate of Designation. No waiver of any default with respect to
any provision, condition or requirement of this Certificate of Designation shall be deemed to be a continuing waiver in the future
or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay
or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right.

 

*
* * * *

 

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IN
WITNESS WHEREOF, the Corporation has caused this Certificate of Designation of 12% Series B Preferred Stock of MGT Capital Investments,
Inc. to be signed by its Chief Executive Officer on this 11th day of January, 2019.

 

	 	MGT
    CAPITAL INVESTMENTS, INC.
	 	 	  
	 	By:	/s/
H. Robert Holmes
	 	Name:	H.
    Robert Holmes
	 	Title:	Interim
Chief Executive Officer

 

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