UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On October 8, 2021, Mawson Infrastructure Group Pty Ltd (“Mawson Australia”), an Australian subsidiary of Mawson Infrastructure Group Inc. (the “Company”), entered into an employment agreement with Nicholas Hughes-Jones, to appoint him as the Company’s Chief Commercial Officer (the “Employment Agreement”).
Pursuant to the Employment Agreement with Mr Hughes-Jones:
| ● | Mr Hughes-Jones will be paid an annual base compensation of AUD300,000 gross; |
| ● | Mr Hughes-Jones will be entitled to accrue 4 weeks paid annual leave for each year of service and also entitled to accrue 10 days paid personal/carer’s leave for each year of service; |
| ● | Mr Hughes-Jones shall be entitled to receive as severance three (3) months of his annual base compensation if Mr Hughes-Jones’s employment is terminated by Mawson Australia due to redundancy; |
| ● | Mr Hughes-Jones may resign from Mawson Australia by providing prior written notice of at least three (3) months to Mawson Australia; |
| ● | Mr Hughes-Jones’s employment will be governed by and construed in accordance with the laws in force in New South Wales, Australia; and |
| ● | Mr Hughes-Jones is entitled to relocation benefits as per exhibit A of the Employment Agreement. |
The foregoing is a summary of the material terms of the Employment Agreement and is qualified in its entirety by reference to the Employment Agreement. A copy of the complete Employment Agreement is attached to this Current Report on Form 8-K as Exhibit 10.1, and the terms of the Employment Agreement are incorporated herein by this reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Employment Agreement between Mawson Infrastructure Group Pty Ltd and Nicholas Hughes-Jones dated October 8, 2021 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Mawson cautions that statements in this report that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Mawson’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. More detailed information about the risks and uncertainties affecting Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 1, 2021, Mawson’s Quarterly Report on Form 10-Q filed with the SEC on August 10, 2021, and in other filings that Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Mawson Infrastructure Group Inc. | ||
| Date: October 8, 2021 | By: | /s/ James Manning |
| James Manning | ||
| Chief Executive Officer | ||
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