Document:

Exhibit
4.1

 

SurgePays,
Inc.

Promissory
Note

 

	Issuance
    Date: March 25, 2022	Principal
    Amount:	$100,000.00

 

FOR
VALUE RECEIVED, SurgePays, Inc., a Nevada corporation (the “Company”), hereby promises to pay to the order of
[Name of Lender] with primary address at [Address] (the “Holder”) the amount set out above as the Principal Amount
(the “Principal”) when due, whether upon the Maturity Date (as defined below), acceleration or otherwise (in each
case in accordance with the terms hereof) and to pay interest (“Interest”) on any outstanding Principal at the applicable
Interest Rate from the date set out above as the Issuance Date (the “Issuance Date”) until the same becomes due and
payable, upon the Maturity Date or acceleration, redemption or otherwise (in each case in accordance with the terms hereof).

 

The
Principal Amount is $100,000.00. The Holder shall pay $100,000.00 of consideration upon the Issuance Date.

 

(1)
GENERAL TERMS

 

(a)
Payment of Principal. The “Maturity Date” shall be the earlier of (i) the date that is six months from the
Issuance Date, and (ii) the occurrence of Event of Default.

 

(b)
Interest. An interest charge of nineteen percent (19%) per annum (“Interest Rate”) shall accrue on any outstanding
balance owing hereunder. Interest hereunder shall be paid on the Maturity Date to the Holder or its assignee in whose name this Note
is registered on the records of the Company regarding registration and transfers of Notes.

 

(c)
Security. This Note shall not be secured by any collateral or any assets pledged to the Holder.

 

(d)
Warrant. As additional consideration for agreeing to fund the proceeds of under this Note, the Company shall issue on the Issuance
Date a common stock purchase warrant entitling the Holder to purchase up to 3000 shares of the Company’s common stock, in the form
attached hereto as Exhibit A (the “Warrant”)

 

(2)
EVENTS OF DEFAULT. 

 

(a)
An “Event of Default”, wherever used herein, means any one of the following events (whatever the reason and whether
it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any
order, rule or regulation of any administrative or governmental body):

 

(i)
The Company’s failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note
(including, without limitation, the Company’s failure to pay any redemption payments or amounts hereunder);

 

    	 

    	 

    

 

(ii)
The Company or any subsidiary of the Company shall commence, or there shall be commenced against the Company or any subsidiary of the
Company under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the Company or
any subsidiary of the Company commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors,
dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Company
or any subsidiary of the Company or there is commenced against the Company or any subsidiary of the Company any such bankruptcy, insolvency
or other proceeding which remains undismissed for a period of sixty-one (61) days; or the Company or any subsidiary of the Company is
adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Company
or any subsidiary of the Company suffers any appointment of any custodian, private or court appointed receiver or the like for it or
any substantial part of its property which continues undischarged or unstayed for a period of sixty-one (61) days; or the Company or
any subsidiary of the Company makes a general assignment for the benefit of creditors; or the Company or any subsidiary of the Company
shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or the
Company or any subsidiary of the Company shall call a meeting of its creditors with a view to arranging a composition, adjustment or
restructuring of its debts; or the Company or any subsidiary of the Company shall by any act or failure to act expressly indicate its
consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is taken by the Company or any subsidiary
of the Company for the purpose of effecting any of the foregoing;

 

(iii)
The Company or any subsidiary of the Company shall default in any of its obligations under any other note or any mortgage, credit agreement
or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may
be secured or evidenced any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement of the
Company or any subsidiary of the Company in an amount exceeding $50,000, whether such indebtedness now exists or shall hereafter be created;
and

 

(iv)
The Company shall become late or delinquent in its filing requirements as a fully-reporting issuer registered with the Securities &
Exchange Commission; and

 

(3)
Other Provisions.

 

(a)
Prepayment. The Company may prepay this Note at any time without penalty.

 

(b)
Default Interest. Following an Event of Default this Note shall bear interest at twenty-six percent (26%) per annum until the
Event of Default is cured, if capable of being cured.

 

(4)
REISSUANCE OF THIS NOTE.

 

(a)
Assignability. The Company may not assign this Note. This Note will be binding upon the Company and its successors and will inure
to the benefit of the Holder and its successors and assigns and may be assigned by the Holder to anyone of its choosing without Company’s
approval.

 

(b)
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 representing the outstanding Principal.

 

    	2

    	 

    

 

(5)
NOTICES. Any notices, consents, waivers or other communications required or permitted to be given under the terms hereof must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by
facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party) (iii)
upon receipt, when sent by email; or (iv) one (1) business day after deposit with a nationally recognized overnight delivery service,
in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be
those set forth in the communications and documents that each party has provided the other immediately preceding the issuance of this
Note or at such other address and/or facsimile number and/or to the attention of such other person as the recipient party has specified
by written notice given to each other party three (3) business days prior to the effectiveness of such change. Written confirmation of
receipt (i) given by the recipient of such notice, consent, waiver or other communication, (ii) mechanically or electronically generated
by the sender’s facsimile machine containing the time, date, recipient facsimile number and an image of the first page of such
transmission or (iii) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service,
receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii)
above, respectively.

 

The
addresses for such communications shall be:

 

If
to the Company, to:

 

SurgePays,
Inc.

ATTN:
KEVIN BRIAN COX, CEO

3124
Brother Blvd

Suite
104

Bartlett,
TN 38133

Email:

 

If
to the Holder:

 

[LENDER]

[ADDRESS]

EMAIL:

 

(6)
APPLICABLE LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of Nevada, without
giving effect to conflicts of laws thereof. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of Nevada or in the federal courts located in the city of Las Vegas, in the
State of Nevada. Both parties and the individuals signing this Agreement agree to submit to the jurisdiction of such courts.

 

(7)
WAIVER. Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver
of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to insist upon
strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right
thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be in writing.

 

(8)
LIQUIDATED DAMAGES. Holder and Company agree that in the event Company fails to comply with any of the terms or provisions of
this Note, Holder’s damages would be uncertain and difficult (if not impossible) to accurately estimate because of the parties’
inability to predict future interest rates and other relevant factors. Accordingly, Holder and Company agree that any fees, balance adjustments,
default interest or other charges assessed under this Note are not penalties but instead are intended by the parties to be, and shall
be deemed, liquidated damages.

 

[Signature
Page Follows]

 

    	3

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Convertible Note to be duly executed by a duly authorized officer as of the date set
forth above.

 

	 	COMPANY:
	 	 	 
	 	SurgePays,
    Inc.
	 	 	 
	 	By:	/s/
    Tony Evers
	 	Name:	Tony
Evers
	 	Title:	Chief
Financial Officer

 

	 	HOLDER:
	 	 
	 	[NAME
    OF LENDER]
	 	 
	 	 

 

    	4

    	 

    

 

EXHIBIT
A

 

Form
of Warrant

 

THIS
WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN OPINION
OF COUNSEL REASONABLY SATISFACTORY TO SURGEPAYS, INC. THAT SUCH REGISTRATION IS NOT REQUIRED.

 

SurgePays,
Inc.

 

WARRANT
TO PURCHASE SHARES OF COMMON STOCK

 

1.
Issuance. In consideration of good and valuable consideration as set forth in the Note, the receipt and sufficiency of which are
hereby acknowledged by SurgePays, Inc., a Nevada corporation (the “Company”); [HOLDER], its successors and/or registered
assigns (the “Holder”), is hereby granted the right to purchase at any time on or after the First Exercise Date (as
defined below) until March __, 2025 (the “Expiration Date”), 3000 fully paid and nonassessable shares (the “Warrant
Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), as such number
of Warrant Shares may be adjusted from time to time pursuant to the terms and conditions of this Warrant to Purchase Shares of Common
Stock (this “Warrant”). This Warrant is being issued pursuant to that certain Promissory Note of the Company issued
to the Holder in the principal amount of $100,000.00 on March __, 2022 (the “Note”).

 

This
Warrant was originally issued to the Holder on March __, 2022 (the “Issue Date”).

 

2.
Exercise of Warrant.

 

2.1.
General.

 

(a)
This Warrant is exercisable in whole or in part at any time and from time to time commencing on the Issue Date and ending on the Expiration
Date. Such exercise shall be effectuated by submitting to the Company (either by delivery to the Company or by email or facsimile transmission)
a completed and duly executed Notice of Exercise substantially in the form attached to this Warrant as Exhibit A (the “Notice
of Exercise”). The date such Notice of Exercise is either faxed, emailed or delivered to the Company shall be the “Exercise
Date,” provided that, if such exercise represents the full exercise of the outstanding balance of the Warrant, the Holder shall
tender this Warrant to the Company within five (5) Trading Days thereafter, but only if the Warrant Shares to be delivered pursuant to
the Notice of Exercise have been delivered to the Holder as of such date. The Notice of Exercise shall be executed by the Holder and
shall indicate (i) the number of Warrant Shares (as defined below) to be issued pursuant to such exercise, and (ii) if applicable (as
provided below), whether the exercise is a cashless exercise.

 

For
purposes of this Warrant, the term “Trading Day” means any day during which the principal market on which the Common
Stock is traded (the “Principal Market”) shall be open for business.

 

    	5

    	 

    

 

(b)
To the extent this Warrant is not previously exercised, and in the event that the Warrant Shares are not registered under an effective
registration statement of the Company, the Holder may elect to receive Warrant Shares, in lieu of a cash exercise, equal to the value
of this Warrant determined in the manner described below (or of any portion thereof remaining unexercised) by surrender of this Warrant
and a Notice of Exercise, in which event the Company shall issue to Holder a number of Shares computed using the following formula:

 

X
= Y (A-B)

A

 

	 	Where	X
    =	the
    number of Warrant Shares to be issued to Holder.
	 	 	 	 
	 	 	Y
    = 	the
    number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date of such calculation).
	 	 	 	 
	 	 	A
    =	the
    Market Price (at the date of such calculation).
	 	 	 	 
	 	 	B
    =	Exercise
    Price (as adjusted to the date of such calculation).

 

For
the purposes of this Warrant, the following terms shall have the following meanings:

 

“Affiliate”
shall mean an affiliate as such term is defined in Rule 144 under the Securities Act of 1933, as amended (or a successor rule).

 

“Closing
Price” shall mean the 4:00 P.M. last sale price of the Common Stock on the Principal Market on the relevant Trading Day(s),
as reported by Bloomberg LP (or if that service is not then reporting the relevant information regarding the Common Stock, a comparable
reporting service of national reputation selected by the Holder and reasonably acceptable to the Company) (“Bloomberg”)
for the relevant date.

 

“DWAC”
shall mean the Deposit/Withdrawal at Custodian system.

 

“DWAC
Conditions” shall mean those conditions necessary to permit a person to receive shares electronically via DWAC.

 

“Exercise
Price” shall mean $4.73 per share of Common Stock, subject to adjustments herein.

 

“First
Exercise Date” shall mean the date that is six months after the date upon which the Common Stock was listed for trading on
the Nasdaq.

 

“Market
Price” shall mean the Closing Price for the Common Stock on the Trading Day that is two Trading Days prior to the Exercise
Date.

 

    	6

    	 

    

 

(c)
If the Notice of Exercise form elects a “cash” exercise (or if the cashless exercise referred to in the immediately preceding
subsection (b) is not available in accordance with the terms hereof), the Exercise Price per share of Common Stock for the Warrant Shares
shall be payable, at the election of the Holder, in cash or by certified or official bank check or by wire transfer in accordance with
instructions provided by the Company at the request of the Holder.

 

(d)
Upon the appropriate payment to the Company, if any, of the Exercise Price for the Warrant Shares, together with the surrender of this
Warrant (if required), the Company shall promptly, but in no case later than the date that is three (3) Trading Days following the date
the Exercise Price is paid to the Company (or with respect to a “cashless exercise,” the date that is three (3) Trading Days
following the Exercise Date) (the “Delivery Date”), provided that all DWAC Eligible Conditions are then satisfied,
deliver or cause the Company’s transfer agent (the “Transfer Agent”) to deliver the applicable Warrant Shares
electronically via DWAC to the account designated by the Holder on the Notice of Exercise. If all DWAC Eligible Conditions are not then
satisfied, the Company shall instead issue and deliver or cause to be issued and delivered (via reputable overnight courier) to the address
as specified in the Notice of Exercise, a certificate, registered in the name of the Holder or its designee, for the number of Warrant
Shares to which the Holder shall be entitled. For the avoidance of doubt, the Company has not met its obligation to deliver Warrant Shares
by the Delivery Date unless the Transfer Agent has posted the shares for DWAC pickup and the Holder or its broker, as applicable, has
been notified of this availability, or if the DWAC Eligible Conditions are not then satisfied, has actually received the certificate
representing the applicable Warrant Shares no later than the close of business on the relevant Delivery Date pursuant to the terms set
forth above.

 

(e)
The Holder shall be deemed to be the holder of the Warrant Shares issuable to it in accordance with the provisions of this Section 2.1
on the Exercise Date.

 

2.2.
Ownership Limitation. If at any time after the Closing, the Holder shall or would receive shares of Common Stock in payment of
interest or principal under Note, upon conversion of Note, under the Warrant, or upon exercise of the Warrant, so that the Buyer would,
together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of such action or receipt
of additional shares of Common Stock a number of shares exceeding 9.99% of the number of shares of Common Stock outstanding on such date
(the “Maximum Percentage”), the Company shall not be obligated and shall not issue to the Holder and the Holder shall
not receive any shares of Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage
would no longer be exceeded by any such receipt of shares of Common Stock by the Holder. The foregoing limitations are enforceable, unconditional
and non-waivable and shall apply to all Affiliates and assigns of the Holder.

 

3.
Mutilation or Loss of Warrant. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation
of this Warrant, and (in the case of loss, theft or destruction) receipt of reasonably satisfactory indemnification, and (in the case
of mutilation) upon surrender and cancellation of this Warrant, the Company will execute and deliver to the Holder a new Warrant of like
tenor and date and any such lost, stolen, destroyed or mutilated Warrant shall thereupon become void.

 

4.
Rights of the Holder. The Holder shall not, by virtue of this Warrant alone, be entitled to any rights of a stockholder in the
Company, either at law or in equity, and the rights of the Holder with respect to or arising under this Warrant are limited to those
expressed in this Warrant and are not enforceable against the Company except to the extent set forth herein.

 

    	7

    	 

    

 

5.
Certain Adjustments.

 

5.1.
Capital Adjustments. If the Company shall at any time prior to the expiration of this Warrant subdivide the Common Stock, by split-up
or stock split, or otherwise, or combine its Common Stock, or issue additional shares of its Common Stock as a dividend, the number of
Warrant Shares issuable upon the exercise of this Warrant shall forthwith be automatically increased proportionately in the case of a
subdivision, split or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be
made to the Exercise Price, Market Price (in the event of a cashless exercise), and other applicable amounts. Any adjustment under this
Section 5.1 shall become effective automatically at the close of business on the date the subdivision or combination becomes effective,
or as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend.

 

5.2.
Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in the
capital stock of the Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 5.1 above),
then the Company shall make appropriate provision so that the Holder shall have the right at any time prior to the expiration of this
Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of shares of stock
and other securities and property receivable in connection with such reclassification, reorganization, or change by a holder of the same
number of shares of Common Stock as were purchasable by the Holder immediately prior to such reclassification, reorganization, or change.
In any such case appropriate provisions shall be made with respect to the rights and interest of the Holder so that the provisions hereof
shall thereafter be applicable with respect to any shares of stock or other securities and property deliverable upon exercise hereof,
and appropriate adjustments shall be made to the purchase price per Warrant Share payable hereunder, provided the aggregate purchase
price shall remain the same.

 

6.
Certificate as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock issuable on the exercise
of this Warrant, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate designee to compute
such adjustment or readjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment
or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including a statement of (a) the
consideration received or receivable by the Company for any additional shares of Common Stock issued or sold or deemed to have been issued
or sold, (b) the number of shares of Common Stock outstanding or deemed to be outstanding, and (c) the Exercise Price and the number
of shares of Common Stock to be received upon exercise of this Warrant, in effect immediately prior to such adjustment or readjustment
and as adjusted or readjusted as provided in this Warrant. The Company will forthwith mail a copy of each such certificate to the Holder
and any Warrant Agent (as defined below) appointed pursuant to Section 8 hereof. Nothing in this Section 6 shall be deemed to limit any
other provision contained herein.

 

7.
Transfer to Comply with the Securities Act. This Warrant, and the Warrant Shares, have not been registered under the 1933 Act.
This Warrant, the Warrant Shares and any other security issued or issuable upon exercise of this Warrant may only be sold, transferred,
pledged or hypothecated (other than to an Affiliate) if (a) there exists an effective registration statement under the 1933 Act relating
to such security or (b) the Company has received an opinion of counsel reasonably satisfactory to the Company that registration is not
required under the 1933 Act. Until such time as registration has occurred under the 1933 Act, each certificate for this Warrant, the
Warrant Shares and any other security issued or issuable upon exercise of this Warrant shall contain a legend, in form and substance
satisfactory to counsel for the Company, setting forth the restrictions on transfer contained in this Section 7. Any such transfer shall
be accompanied by a transferor assignment substantially in the form attached to this Warrant as Exhibit B (the “Transferor
Assignment”), executed by the transferor and the transferee and submitted to the Company. Upon receipt of the duly executed
Transferor Assignment, the Company shall register the transferee thereon as the new Holder on the books and records of the Company and
such transferee shall be deemed a “registered holder” or “registered assign” for all purposes hereunder, and
shall have all the rights of the Holder.

 

    	8

    	 

    

 

8.
Warrant Agent. The Company may, by written notice to the Holder, appoint an agent (a “Warrant Agent”) for the
purpose of issuing shares of Common Stock on the exercise of this Warrant pursuant hereto, exchanging this Warrant pursuant hereto, and
replacing this Warrant pursuant hereto, or any of the foregoing, and thereafter any such issuance, exchange or replacement, as the case
may be, shall be made at such office by such Warrant Agent.

 

9.
Transfer on the Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat the
Holder as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

 

10.
Notices. Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled “Notices”
in the Note, the terms of which are incorporated herein by reference.

 

11.
Supplements and Amendments; Whole Agreement. This Warrant may be amended or supplemented only by an instrument in writing signed
by the parties hereto. This Warrant, together with the Note, taken together, contain the full understanding of the parties hereto with
respect to the subject matter hereof and thereof and there are no representations, warranties, agreements or understandings with respect
to the subject matter hereof and thereof other than as expressly contained herein and therein.

 

12.
Governing Law. This Warrant shall be governed by and interpreted in accordance with the laws of the State of Nevada, without giving
effect to the principles thereof regarding the conflict of laws. The Company and, by accepting this Warrant, the Holder, each irrevocably
(a) consent to and expressly submit to the exclusive personal jurisdiction of any state or federal court sitting in New York in connection
with any dispute or proceeding arising out of or relating to this Warrant, (b) agree that all claims in respect of any such dispute or
proceeding may only be heard and determined in any such court, (c) expressly submit to the venue of any such court for the purposes hereof,
and (d) waive any claim of improper venue and any claim or objection that such courts are an inconvenient forum or any other claim or
objection to the bringing of any such proceeding in such jurisdictions or to any claim that such venue of the suit, action or proceeding
is improper. The Company and, by accepting this Warrant, the Holder, each hereby irrevocably consent to the service of process of any
of the aforementioned courts in any such proceeding by the mailing of copies thereof by reputable overnight courier (e.g., FedEx) or
certified mail, postage prepaid, to such party’s address as provided for herein, such service to become effective ten (10) calendar
days after such mailing. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR
THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

13.
Remedies. The remedies at law of the Holder of this Warrant in the event of any default or threatened default by the Company in
the performance of or compliance with any of the terms of this Warrant are not and will not be adequate and, without limiting any other
remedies available to the Holder in the Transaction Documents, law or equity, to the fullest extent permitted by law, such terms may
be specifically enforced by a decree for the specific performance of any agreement contained herein or by an injunction against a violation
of any of the terms hereof or otherwise.

 

14.
Counterparts. This Warrant may be executed in any number of counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. Signature delivered
via facsimile or email shall be considered original signatures for purposes hereof.

 

15.
Descriptive Headings. Descriptive headings of the sections of this Warrant are inserted for convenience only and shall not control
or affect the meaning or construction of any of the provisions hereof.

 

16.
Attorney’s Fees. In the event of any litigation or dispute arising from this Warrant, the parties agree that the party who
is awarded the most money shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional award
of the full amount of the attorneys’ fees and expenses paid by said prevailing party in connection with the litigation and/or dispute
without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses. Nothing herein
shall restrict or impair a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

17.
Severability. Whenever possible, each provision of this Warrant shall be interpreted in such a manner as to be effective and valid
under applicable law, but if any provision of this Warrant shall be invalid or unenforceable in any jurisdiction, such provision shall
be modified to achieve the objective of the parties to the fullest extent permitted and such invalidity or unenforceability shall not
affect the validity or enforceability of the remainder of this Warrant or the validity or enforceability of this Warrant in any other
jurisdiction.

 

[Remainder
of page intentionally left blank]

 

    	9

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by an officer thereunto duly authorized.

 

Dated:
March __, 2022

 

	 	THE
    COMPANY:
	 	 	 
	 	SurgePays, Inc.
	 	 	 
	 	By:	 
	 	Name:	Tony
    Evers
	 	Title:	Chief
    Financial Officer

 

[Signature
page to Warrant]

 

    	 

    	 

    

 

EXHIBIT
A

 

NOTICE
OF EXERCISE OF WARRANT

 

	TO:	(COMPANY)
	 	ATTN:
    _______________
	 	VIA
    FAX TO: ( )______________
	 	VIA
    EMAIL TO: ( )______________

 

The
undersigned hereby irrevocably elects to exercise the right, represented by the Warrant to Purchase Shares of Common Stock dated as of
_______1 (the “Warrant”), to purchase shares of the common stock, $0.001 par value (“Common
Stock”), of SurgePays, Inc., and tenders herewith payment in accordance with Section 2 of the Warrant, as follows:

 

	_______	CASH:$__________________________  	=	(Exercise
    Price x Warrant Shares)
	 	 	 	 
	_______	Payment is being made by:	 	 
	 	_____
    	enclosed
    check 	 	 
	 	_____	wire
    transfer 	 	 
	 	_____	other	 	 

 

	_______	CASHLESS
    EXERCISE:

 

Net
number of Warrant Shares to be issued to Holder: ______*

 

*
X = Y (A-B)

A

 

	 	Where	X
    =	the
    number of Warrant Shares to be issued to Holder.
	 	 	 	 
	 	 	Y
    = 	the
    number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date of such calculation).
	 	 	 	 
	 	 	A
    =	the
    Market Price (at the date of such calculation).
	 	 	 	 
	 	 	B
    =	Exercise
    Price (as adjusted to the date of such calculation).

 

Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to them in the Warrant.

 

 

1
Insert date of Warrant

 

    	 

    	 

    

 

It
is the intention of the Holder to comply with the provisions of Section 2.2 of the Warrant regarding certain limits on the Holder’s
right to exercise thereunder. The Holder believes this exercise complies with the provisions of such Section 2.2. Nonetheless, to the
extent that, pursuant to the exercise effected hereby, the Holder would have more shares of Common Stock than permitted under Section
2.2, this notice should be amended and revised, ab initio, to refer to the exercise which would result in the issuance of the
maximum number of such shares permitted under such provision. Any exercise above such amount is hereby deemed void and revoked.

 

As
contemplated by the Warrant, this Notice of Exercise is being sent by facsimile or email to the fax number and officer indicated above.

 

If
this Notice of Exercise represents the full exercise of the outstanding balance of the Warrant, the Holder either (1) has previously
surrendered the Warrant to the Company or (2) will surrender (or cause to be surrendered) the Warrant to the Company at the address indicated
above by express courier within five (5) Trading Days after delivery or email or facsimile transmission of this Notice of Exercise; provided
that the Warrant Shares to be delivered pursuant to this Notice of Exercise have been delivered to the Holder as of such date.

 

To
the extent the Warrant Shares are not able to be delivered to the Holder via the DWAC system, please deliver certificates representing
the Warrant Shares to the Holder via reputable overnight courier after receipt of this Notice of Exercise (by facsimile transmission
or otherwise) to:

 

_____________________________________

_____________________________________

_____________________________________

 

 

	Dated:	 
	 	 
	___________________________	 
	[Name
    of Holder]	 
	 	 
	By:________________________	 

 

    	 

    	 

    

 

EXHIBIT
B

 

FORM
OF TRANSFEROR ENDORSEMENT

(To
be signed only on transfer of the Warrant)

 

For
value received, the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees”
the right represented by the Warrant to Purchase Shares of Common Stock dated as of ________2 (the “Warrant”)
to purchase the percentage and number of shares of common stock, $0.001 par value (“Common Stock”), of SurgePays,
Inc. (“COMPANY”) specified under the headings “Percentage Transferred” and “Number Transferred,”
respectively, opposite the name(s) of such person(s), and appoints each such person attorney to transfer the undersigned’s respective
right on the books of the Company, with full power of substitution in the premises.

 

	Transferees	Percentage
    Transferred 	Number
    Transferred

 

	Dated:___________,
    ______	 	 
	 	 	 
	 	 	______________________________
	 	 	[Transferor
    Name must conform to the name of Holder as specified on the face of the Warrant]
	 	 	 
	 	 	By:
    ___________________________
	 	 	Name:
    _________________________

 

	Signed
    in the presence of:	 
	 	 
	_________________________	 
	(Name)	 
	 	 
	 	 
	ACCEPTED
    AND AGREED:	 
	 	 
	_________________________	 
	[TRANSFEREE]
    	 
	 	 
	By:
    _______________________	 
	Name:
    _____________________	 

 

 

2
Insert Date of WarrantExhibit
4.2

 

THIS
WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN OPINION
OF COUNSEL REASONABLY SATISFACTORY TO SURGEPAYS, INC. THAT SUCH REGISTRATION IS NOT REQUIRED.

 

SurgePays,
Inc.

 

WARRANT
TO PURCHASE SHARES OF COMMON STOCK

 

1.
Issuance. In consideration of good and valuable consideration as set forth in the Note, the receipt and sufficiency of which are
hereby acknowledged by SurgePays, Inc., a Nevada corporation (the “Company”); [Name of Lender] its successors and/or
registered assigns (the “Holder”), is hereby granted the right to purchase at any time on or after the First Exercise
Date (as defined below) until May 28, 2025 (the “Expiration Date”), Six Thousand (6,000) fully paid and nonassessable
shares (the “Warrant Shares”) of the Company’s common stock, par value $0.001 per share (the “Common
Stock”), as such number of Warrant Shares may be adjusted from time to time pursuant to the terms and conditions of this Warrant
to Purchase Shares of Common Stock (this “Warrant”). This Warrant is being issued pursuant to that certain Promissory
Note of the Company issued to the Holder in the principal amount of $200,000.00 on May 27, 2022 (the “Note”).

 

This
Warrant was originally issued to the Holder on May 27, 2022 (the “Issue Date”).

 

2.
Exercise of Warrant.

 

2.1.
General.

(a)
This Warrant is exercisable in whole or in part at any time and from time to time commencing on the Issue Date and ending on the Expiration
Date. Such exercise shall be effectuated by submitting to the Company (either by delivery to the Company or by email or facsimile transmission)
a completed and duly executed Notice of Exercise substantially in the form attached to this Warrant as Exhibit A (the “Notice
of Exercise”). The date such Notice of Exercise is either faxed, emailed or delivered to the Company shall be the “Exercise
Date,” provided that, if such exercise represents the full exercise of the outstanding balance of the Warrant, the Holder shall
tender this Warrant to the Company within five (5) Trading Days thereafter, but only if the Warrant Shares to be delivered pursuant to
the Notice of Exercise have been delivered to the Holder as of such date. The Notice of Exercise shall be executed by the Holder and
shall indicate (i) the number of Warrant Shares (as defined below) to be issued pursuant to such exercise, and (ii) if applicable (as
provided below), whether the exercise is a cashless exercise.

 

For
purposes of this Warrant, the term “Trading Day” means any day during which the principal market on which the Common
Stock is traded (the “Principal Market”) shall be open for business.

 

    	1

    	 

    

 

(b)
To the extent this Warrant is not previously exercised, and in the event that the Warrant Shares are not registered under an effective
registration statement of the Company, the Holder may elect to receive Warrant Shares, in lieu of a cash exercise, equal to the value
of this Warrant determined in the manner described below (or of any portion thereof remaining unexercised) by surrender of this Warrant
and a Notice of Exercise, in which event the Company shall issue to Holder a number of Shares computed using the following formula:

 

X
= Y (A-B)

A

 

	 	Where	X
    =	the
    number of Warrant Shares to be issued to Holder.
	 	 	 	 
	 	 	Y
    =	the
    number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date of such calculation).
	 	 	 	 
	 	 	A
    =	the
    Market Price (at the date of such calculation).
	 	 	 	 
	 	 	B
    =	Exercise
    Price (as adjusted to the date of such calculation).

 

For
the purposes of this Warrant, the following terms shall have the following meanings:

 

“Affiliate”
shall mean an affiliate as such term is defined in Rule 144 under the Securities Act of 1933, as amended (or a successor rule).

 

“Closing
Price” shall mean the 4:00 P.M. last sale price of the Common Stock on the Principal Market on the relevant Trading Day(s),
as reported by Bloomberg LP (or if that service is not then reporting the relevant information regarding the Common Stock, a comparable
reporting service of national reputation selected by the Holder and reasonably acceptable to the Company) (“Bloomberg”)
for the relevant date.

 

“DWAC”
shall mean the Deposit/Withdrawal at Custodian system.

 

“DWAC
Conditions” shall mean those conditions necessary to permit a person to receive shares electronically via DWAC.

 

“Exercise
Price” shall mean $4.73 per share of Common Stock, subject to adjustments herein.

 

“First
Exercise Date” shall mean the date that is six months after the date upon which the Common Stock was listed for trading on
the Nasdaq.

 

“Market
Price” shall mean the Closing Price for the Common Stock on the Trading Day that is two Trading Days prior to the Exercise
Date.

 

(c)
If the Notice of Exercise form elects a “cash” exercise (or if the cashless exercise referred to in the immediately preceding
subsection (b) is not available in accordance with the terms hereof), the Exercise Price per share of Common Stock for the Warrant Shares
shall be payable, at the election of the Holder, in cash or by certified or official bank check or by wire transfer in accordance with
instructions provided by the Company at the request of the Holder.

 

    	2

    	 

    

 

(d)
Upon the appropriate payment to the Company, if any, of the Exercise Price for the Warrant Shares, together with the surrender of this
Warrant (if required), the Company shall promptly, but in no case later than the date that is three (3) Trading Days following the date
the Exercise Price is paid to the Company (or with respect to a “cashless exercise,” the date that is three (3) Trading Days
following the Exercise Date) (the “Delivery Date”), provided that all DWAC Eligible Conditions are then satisfied,
deliver or cause the Company’s transfer agent (the “Transfer Agent”) to deliver the applicable Warrant Shares
electronically via DWAC to the account designated by the Holder on the Notice of Exercise. If all DWAC Eligible Conditions are not then
satisfied, the Company shall instead issue and deliver or cause to be issued and delivered (via reputable overnight courier) to the address
as specified in the Notice of Exercise, a certificate, registered in the name of the Holder or its designee, for the number of Warrant
Shares to which the Holder shall be entitled. For the avoidance of doubt, the Company has not met its obligation to deliver Warrant Shares
by the Delivery Date unless the Transfer Agent has posted the shares for DWAC pickup and the Holder or its broker, as applicable, has
been notified of this availability, or if the DWAC Eligible Conditions are not then satisfied, has actually received the certificate
representing the applicable Warrant Shares no later than the close of business on the relevant Delivery Date pursuant to the terms set
forth above.

 

(e)
The Holder shall be deemed to be the holder of the Warrant Shares issuable to it in accordance with the provisions of this Section 2.1
on the Exercise Date.

 

2.2.
Ownership Limitation. If at any time after the Closing, the Holder shall or would receive shares of Common Stock in payment of
interest or principal under Note, upon conversion of Note, under the Warrant, or upon exercise of the Warrant, so that the Buyer would,
together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of such action or receipt
of additional shares of Common Stock a number of shares exceeding 9.99% of the number of shares of Common Stock outstanding on such date
(the “Maximum Percentage”), the Company shall not be obligated and shall not issue to the Holder and the Holder shall
not receive any shares of Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage
would no longer be exceeded by any such receipt of shares of Common Stock by the Holder. The foregoing limitations are enforceable, unconditional
and non-waivable and shall apply to all Affiliates and assigns of the Holder.

 

3.
Mutilation or Loss of Warrant. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation
of this Warrant, and (in the case of loss, theft or destruction) receipt of reasonably satisfactory indemnification, and (in the case
of mutilation) upon surrender and cancellation of this Warrant, the Company will execute and deliver to the Holder a new Warrant of like
tenor and date and any such lost, stolen, destroyed or mutilated Warrant shall thereupon become void.

 

4.
Rights of the Holder. The Holder shall not, by virtue of this Warrant alone, be entitled to any rights of a stockholder in the
Company, either at law or in equity, and the rights of the Holder with respect to or arising under this Warrant are limited to those
expressed in this Warrant and are not enforceable against the Company except to the extent set forth herein.

 

5.
Certain Adjustments.

 

5.1.
Capital Adjustments. If the Company shall at any time prior to the expiration of this Warrant subdivide the Common Stock, by split-up
or stock split, or otherwise, or combine its Common Stock, or issue additional shares of its Common Stock as a dividend, the number of
Warrant Shares issuable upon the exercise of this Warrant shall forthwith be automatically increased proportionately in the case of a
subdivision, split or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be
made to the Exercise Price, Market Price (in the event of a cashless exercise), and other applicable amounts. Any adjustment under this
Section 5.1 shall become effective automatically at the close of business on the date the subdivision or combination becomes effective,
or as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend.

 

    	3

    	 

    

 

5.2.
Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in the
capital stock of the Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 5.1 above),
then the Company shall make appropriate provision so that the Holder shall have the right at any time prior to the expiration of this
Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of shares of stock
and other securities and property receivable in connection with such reclassification, reorganization, or change by a holder of the same
number of shares of Common Stock as were purchasable by the Holder immediately prior to such reclassification, reorganization, or change.
In any such case appropriate provisions shall be made with respect to the rights and interest of the Holder so that the provisions hereof
shall thereafter be applicable with respect to any shares of stock or other securities and property deliverable upon exercise hereof,
and appropriate adjustments shall be made to the purchase price per Warrant Share payable hereunder, provided the aggregate purchase
price shall remain the same.

 

6.
Certificate as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock issuable on the exercise
of this Warrant, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate designee to compute
such adjustment or readjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment
or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including a statement of (a) the
consideration received or receivable by the Company for any additional shares of Common Stock issued or sold or deemed to have been issued
or sold, (b) the number of shares of Common Stock outstanding or deemed to be outstanding, and (c) the Exercise Price and the number
of shares of Common Stock to be received upon exercise of this Warrant, in effect immediately prior to such adjustment or readjustment
and as adjusted or readjusted as provided in this Warrant. The Company will forthwith mail a copy of each such certificate to the Holder
and any Warrant Agent (as defined below) appointed pursuant to Section 8 hereof. Nothing in this Section 6 shall be deemed to limit any
other provision contained herein.

 

7.
Transfer to Comply with the Securities Act. This Warrant, and the Warrant Shares, have not been registered under the 1933 Act.
This Warrant, the Warrant Shares and any other security issued or issuable upon exercise of this Warrant may only be sold, transferred,
pledged or hypothecated (other than to an Affiliate) if (a) there exists an effective registration statement under the 1933 Act relating
to such security or (b) the Company has received an opinion of counsel reasonably satisfactory to the Company that registration is not
required under the 1933 Act. Until such time as registration has occurred under the 1933 Act, each certificate for this Warrant, the
Warrant Shares and any other security issued or issuable upon exercise of this Warrant shall contain a legend, in form and substance
satisfactory to counsel for the Company, setting forth the restrictions on transfer contained in this Section 7. Any such transfer shall
be accompanied by a transferor assignment substantially in the form attached to this Warrant as Exhibit B (the “Transferor
Assignment”), executed by the transferor and the transferee and submitted to the Company. Upon receipt of the duly executed
Transferor Assignment, the Company shall register the transferee thereon as the new Holder on the books and records of the Company and
such transferee shall be deemed a “registered holder” or “registered assign” for all purposes hereunder, and
shall have all the rights of the Holder.

 

8.
Warrant Agent. The Company may, by written notice to the Holder, appoint an agent (a “Warrant Agent”) for the
purpose of issuing shares of Common Stock on the exercise of this Warrant pursuant hereto, exchanging this Warrant pursuant hereto, and
replacing this Warrant pursuant hereto, or any of the foregoing, and thereafter any such issuance, exchange or replacement, as the case
may be, shall be made at such office by such Warrant Agent.

 

    	4

    	 

    

 

9.
Transfer on the Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat the
Holder as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

 

10.
Notices. Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled “Notices”
in the Note, the terms of which are incorporated herein by reference.

 

11.
Supplements and Amendments; Whole Agreement. This Warrant may be amended or supplemented only by an instrument in writing signed
by the parties hereto. This Warrant, together with the Note, taken together, contain the full understanding of the parties hereto with
respect to the subject matter hereof and thereof and there are no representations, warranties, agreements or understandings with respect
to the subject matter hereof and thereof other than as expressly contained herein and therein.

 

12.
Governing Law. This Warrant shall be governed by and interpreted in accordance with the laws of the State of Nevada, without giving
effect to the principles thereof regarding the conflict of laws. The Company and, by accepting this Warrant, the Holder, each irrevocably
(a) consent to and expressly submit to the exclusive personal jurisdiction of any state or federal court sitting in New York in connection
with any dispute or proceeding arising out of or relating to this Warrant, (b) agree that all claims in respect of any such dispute or
proceeding may only be heard and determined in any such court, (c) expressly submit to the venue of any such court for the purposes hereof,
and (d) waive any claim of improper venue and any claim or objection that such courts are an inconvenient forum or any other claim or
objection to the bringing of any such proceeding in such jurisdictions or to any claim that such venue of the suit, action or proceeding
is improper. The Company and, by accepting this Warrant, the Holder, each hereby irrevocably consent to the service of process of any
of the aforementioned courts in any such proceeding by the mailing of copies thereof by reputable overnight courier (e.g., FedEx) or
certified mail, postage prepaid, to such party’s address as provided for herein, such service to become effective ten (10) calendar
days after such mailing. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR
THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

13.
Remedies. The remedies at law of the Holder of this Warrant in the event of any default or threatened default by the Company in
the performance of or compliance with any of the terms of this Warrant are not and will not be adequate and, without limiting any other
remedies available to the Holder in the Transaction Documents, law or equity, to the fullest extent permitted by law, such terms may
be specifically enforced by a decree for the specific performance of any agreement contained herein or by an injunction against a violation
of any of the terms hereof or otherwise.

 

14.
Counterparts. This Warrant may be executed in any number of counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. Signature delivered
via facsimile or email shall be considered original signatures for purposes hereof.

 

15.
Descriptive Headings. Descriptive headings of the sections of this Warrant are inserted for convenience only and shall not control
or affect the meaning or construction of any of the provisions hereof.

 

16.
Attorney’s Fees. In the event of any litigation or dispute arising from this Warrant, the parties agree that the party who
is awarded the most money shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional award
of the full amount of the attorneys’ fees and expenses paid by said prevailing party in connection with the litigation and/or dispute
without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses. Nothing herein
shall restrict or impair a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

17.
Severability. Whenever possible, each provision of this Warrant shall be interpreted in such a manner as to be effective and valid
under applicable law, but if any provision of this Warrant shall be invalid or unenforceable in any jurisdiction, such provision shall
be modified to achieve the objective of the parties to the fullest extent permitted and such invalidity or unenforceability shall not
affect the validity or enforceability of the remainder of this Warrant or the validity or enforceability of this Warrant in any other
jurisdiction.

 

[Remainder
of page intentionally left blank]

 

    	5

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by an officer thereunto duly authorized.

 

	Dated:
    May 27, 2022	 	 
	 	 	 
	 	THE
    COMPANY:
	 	 	 
	 	SurgePays,
    Inc.
	 	 	 
	 	By:	/s/
    Tony Evers
	 	Name:
    	Tony
    Evers
	 	Title:	Chief
    Financial Officer

 

[Signature
page to Warrant]

 

    	6

    	 

    

 

EXHIBIT
A

 

NOTICE
OF EXERCISE OF WARRANT

 

	TO:
    	(COMPANY)
	 	ATTN:
    _______________
	 	VIA
    FAX TO: ( )______________
	 	VIA
    EMAIL TO: ( )______________

 

The
undersigned hereby irrevocably elects to exercise the right, represented by the Warrant to Purchase Shares of Common Stock dated as of
_______1 (the “Warrant”), to purchase shares of the common stock, $0.001 par value (“Common Stock”),
of SurgePays, Inc., and tenders herewith payment in accordance with Section 2 of the Warrant, as follows:

 

	_______	CASH:
    $__________________________ = (Exercise Price x Warrant Shares)
	 	 
	_______	Payment
    is being made by:

 

	 	_____	enclosed check
	 	_____	wire transfer
	 	_____	other

 

	_______	CASHLESS EXERCISE:

 

Net
number of Warrant Shares to be issued to Holder: ______*

 

*
X = Y (A-B)

          A

 

	 	Where	X
    =	the
                                            number of Warrant Shares to be issued to Holder.

	 	 	 	 
	 	 	Y
    =	the
    number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date of such calculation).
	 	 	 	 
	 	 	A=	the
    Market Price (at the date of such calculation).
	 	 	 	 
	 	 	B
    =	Exercise
    Price (as adjusted to the date of such calculation).

 

Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to them in the Warrant.

 

It
is the intention of the Holder to comply with the provisions of Section 2.2 of the Warrant regarding certain limits on the Holder’s
right to exercise thereunder. The Holder believes this exercise complies with the provisions of such Section 2.2. Nonetheless, to the
extent that, pursuant to the exercise effected hereby, the Holder would have more shares of Common Stock than permitted under Section
2.2, this notice should be amended and revised, ab initio, to refer to the exercise which would result in the issuance of the
maximum number of such shares permitted under such provision. Any exercise above such amount is hereby deemed void and revoked.

 

 

 

1
Insert date of Warrant

 

    	 

    	 

    

 

As
contemplated by the Warrant, this Notice of Exercise is being sent by facsimile or email to the fax number and officer indicated above.

 

If
this Notice of Exercise represents the full exercise of the outstanding balance of the Warrant, the Holder either (1) has previously
surrendered the Warrant to the Company or (2) will surrender (or cause to be surrendered) the Warrant to the Company at the address indicated
above by express courier within five (5) Trading Days after delivery or email or facsimile transmission of this Notice of Exercise; provided
that the Warrant Shares to be delivered pursuant to this Notice of Exercise have been delivered to the Holder as of such date.

 

To
the extent the Warrant Shares are not able to be delivered to the Holder via the DWAC system, please deliver certificates representing
the Warrant Shares to the Holder via reputable overnight courier after receipt of this Notice of Exercise (by facsimile transmission
or otherwise) to:

 

_____________________________________

 

_____________________________________

 

_____________________________________

  

Dated:
_____________________

 

___________________________

[Name
of Holder]

 

By:________________________

 

    	 

    	 

    

 

EXHIBIT
B

 

FORM
OF TRANSFEROR ENDORSEMENT

 

(To
be signed only on transfer of the Warrant)

 

For
value received, the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees”
the right represented by the Warrant to Purchase Shares of Common Stock dated as of ________2 (the “Warrant”)
to purchase the percentage and number of shares of common stock, $0.001 par value (“Common Stock”), of SurgePays,
Inc. (“COMPANY”) specified under the headings “Percentage Transferred” and “Number Transferred,”
respectively, opposite the name(s) of such person(s), and appoints each such person attorney to transfer the undersigned’s respective
right on the books of the Company, with full power of substitution in the premises.

 

	Transferees	 	Percentage
    Transferred 	 	Number
  Transferred

 

	Dated:___________,
    ______	 	 
	 	 	 
	 	________________________________
	 	[Transferor
  Name must conform to the name of Holder as specified on the face of the Warrant]
	 	 	 
	 	By:	___________________________
	 	Name:	___________________________

 

	Signed
    in the presence of:	 
	 	 
	_________________________	 
	 	 
	(Name)	 
	 	 
	ACCEPTED
    AND AGREED:	 
	 	 
	_________________________	 
	 	 
	[TRANSFEREE]	 
	 	 
	By:
    _______________________	 
	Name:
    _____________________	 

 

 

 

2
Insert Date of Warrant

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