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EXHIBIT 10.3

PROMISSORY NOTE

$___________________
__[date]___

Mondial Ventures, Inc., a Nevada corporation (the "Maker"), for value received,
hereby promises to pay to ___________________ (the "Holder"), the principal sum
of ______________ DOLLARS ($______.00) (the “Principal”) in such coin or
currency of the United States of America as at the time of payment shall be
legal tender for the payment of public and private debts, which shall be payable
on or before the 90th day following the funding of this note.   If Maker does
not repay the entire Principal by the 90th day, an interest rate of seventeen
percent (17%) per annum on the unpaid balance shall be due and payable from the
date of funding through the date that Principal and all accrued and unpaid
interest (“Interest”) is paid in full.

This Note can be prepaid in whole or in part at any time without the consent of
the Holder provided that Maker shall pay all accrued but unpaid Interest, if
any, to the date of the prepayment.

The entire unpaid Principal and all accrued but unpaid Interest shall be
immediately due and payable upon the occurrence of any of the following (each,
an "Event of Default"):

a.           Application for, or consent to, the appointment of a receiver,
trustee or liquidator for Maker or of its property;

b.           Admission in writing of the Maker's inability to pay its debts as
they mature;

c.           General assignment by the Maker for the benefit of creditors;

d.           Filing by the Maker of a voluntary petition in bankruptcy or a
petition or an answer seeking reorganization, or an arrangement with creditors;

e.           Entering against the Maker of a court order approving a petition
filed against it under the federal bankruptcy laws, which order shall not have
been vacated or set aside or otherwise terminated within 60 days; or

f.           Default in the payment of the principal or accrued interest on this
Note, when and as the same shall become due and payable, whether by acceleration
or otherwise, which such default has not been cured within ten (10) business
days of the Holder notifying the Maker in writing of such default.

From and after an Event of Default, interest shall be calculated at a rate of
twenty-four (24%) percent per annum through and including the date of full
repayment of Principal and Interest.

All rights and remedies available to the Holder pursuant to the provisions of
applicable law and otherwise are cumulative, not exclusive and enforceable
alternatively, successively and/or concurrently after default by Maker pursuant
to the provisions of this Note.

 
 

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This Note may not be changed, modified or terminated orally, but only by an
agreement in writing, signed by the party to be charged.

Maker shall pay or otherwise reimburse to Holder all reasonable fees, costs and
expenses actually incurred by Holder in the enforcement, administration or
collection pursuant to the terms and conditions of this Note.  Such obligation
shall be binding on Maker regardless of whether or not an action has been
commenced or is ever commenced.

This Note shall be governed by and construed in accordance with the laws of the
State of Nevada and shall be binding upon the successors, endorsees or assigns
of the Maker and inure to the benefit of the Holder, its successors, endorsees
and assigns.

The Maker hereby irrevocably consents to the jurisdiction of the State and
Federal courts located in the State of Nevada, at Holder’s sole option, in
connection with any action or proceeding arising out of or relating to this
Note.  If any term or provision of this Note shall be held invalid, illegal or
unenforceable, the validity of all other terms and provisions hereof shall in no
way be affected thereby.

_____________________
Mondial Ventures, Inc.
               
________________________
By: ____________________
Name: ________________
Name: Rodney Henry
Title: _________________
Title:  CEO

 
 

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Schedule to Exhibit 10.3
 
 
1)
Promissory Note between Legacy Athletic Apparel, LLC and Paul Gray dated July
15, 2010 for $50,000.

 
 
2)
Promissory Note between Mondial Ventures, Inc. and Paul Gray dated January 18,
2011 for $50,000.

 
 
3)
Promissory Note between Mondial Ventures, Inc. and Osprey Capital Advisors dated
February 8, 2011 for $20,000.

 
 
 
 
 

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