Exhibit 4.3


 


Dated: _______ , 2015


 


NEITHER THIS DEBENTURE NOR THE SECURITIES
INTO WHICH THIS DEBENTURE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT
BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS.


 


	No. 2015-A-___	$_______.00


 


ID GLOBAL SOLUTIONS CORPORATION


 


Secured Convertible Debenture


 


This Secured Convertible Debenture (the
“Debenture”) is issued by ID GLOBAL SOLUTIONS CORPORATION, a Delaware corporation (the “Obligor”),
to ______________________________, a ______________ (the “Holder”), pursuant to that certain Securities
Purchase Agreement (the “Agreement”) of even date herewith.


 


FOR VALUE RECEIVED, the Obligor
hereby promises to pay to the Holder or its successors and assigns the principal sum of ____________ Dollars ($_______) together
with accrued but unpaid interest on or before the earlier of the closing of a financing of debt or equity in excess of $2,000,000
(“Qualified Financing”) or June __, 2016 (the “Maturity Date”) in accordance with the following
terms:


 


Interest.
Interest shall accrue on the outstanding principal balance hereof at an annual rate equal to ten percent (10%). Interest shall
be calculated on the basis of a 360-day year, to the extent permitted by applicable law. Interest hereunder will be paid to the
Holder or its assignee (as defined in Section 4) in whose name this Debenture is registered on the records of the Obligor
regarding registration and transfers of Debentures (the “Debenture Register”). The Interest shall be payable
in cash or shares of Common Stock at the discretion of the Holder. Under the circumstances that the Interest is payable in shares
of Common Stock, the Holder or its successors and assigns are entitled to receive the amount of shares of Common Stock of the Company
equal to the amount of Interest owed divided by the Conversion Price.


 


Right of
Redemption. The Obligor at its option shall have the right to redeem a portion or all amounts outstanding under this
Debenture prior to the Maturity Date; provided, however, the Obligor must provide the Holder with the thirty (30) days
written notice prior to redeeming this Debenture; provided, however, that during such period the Holder, at it’s
option, may elect to convert this Debenture in accordance with its terms.


 






    	



    	 



    

   


Security Agreement.
This Debenture is secured by the Security Agreement (the “Security Agreement”) between the Obligor and the Holder.


 


Liquidated Damages.
In the event the principal and Interest is not paid in full by the Maturity Date, then the Obligor shall be obligated to pay the
Holder liquidated damages equal to the product of the outstanding principal and Interest multiplied by two (2%) percent on the
first day of every month to the Holder. The Obligor, in its sole election, may pay such liquidated damages in cash or shares of
Common Stock equal to the amount of such monthly payment divided by the weighted average market price for the five (5) trading
days preceding such payment. Such liquidated damages will be paid on a monthly basis until this debenture is paid in full.


 


This Debenture is subject
to the following additional provisions:


 


Section 1. This
Debenture is exchangeable for an equal aggregate principal amount of Debentures of different authorized denominations, as requested
by the Holder surrendering the same. No service charge will be made for such registration of transfer or exchange.


 


Section 2. Events
of Default and Occurrence of Qualified Financing.


 


(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) Any default
in the payment of the principal of, interest on or other charges in respect of this Debenture, free of any claim of subordination,
as and when the same shall become due and payable (whether on a Conversion Date or the Maturity Date or by acceleration or otherwise);


 


(ii) The Obligor
shall fail to observe or perform any other covenant, agreement or warranty contained in, or otherwise commit any breach or default
of any provision of this Debenture (except as may be covered by Section 2(a)(i) hereof), the Agreement, or any Transaction
Document (as defined in Section 4), which is not cured with in the time prescribed;


 


(iii) The
Obligor or any subsidiary of the Obligor shall commence, or there shall be commenced against the Obligor or any subsidiary of
the Obligor under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the
Obligor or any subsidiary of the Obligor 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 Obligor or any subsidiary of the Obligor or there is commenced against the Obligor or any
subsidiary of the Obligor any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of 61
days; or the Obligor or any subsidiary of the Obligor is adjudicated insolvent or bankrupt; or any order of relief or other
order approving any such case or proceeding is entered; or the Obligor or any subsidiary of the Obligor 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 Obligor or any subsidiary of the Obligor
makes a general assignment for the benefit of creditors; or the Obligor or any subsidiary of the Obligor 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 Obligor or
any subsidiary of the Obligor shall call a meeting of its creditors with a view to arranging a composition, adjustment or
restructuring of its debts; or the Obligor or any subsidiary of the Obligor 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 Obligor or any subsidiary of the Obligor for the purpose of effecting any of the foregoing;


 






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(iv) The Obligor
or any subsidiary of the Obligor shall default in any of its obligations under any other debenture 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 Obligor or any subsidiary of the Obligor in an amount exceeding $100,000, whether such indebtedness now exists or shall
hereafter be created and such default shall result in such indebtedness becoming or being declared due and payable prior to the
date on which it would otherwise become due and payable;


 


(v) The Common Stock
shall cease to be quoted for trading or listing for trading on any of (a) New York Stock Exchange, (b) the Nasdaq National Market,
(c) the Nasdaq Capital Market, or (d) OTC Markets (“OTC”) (each, a “Primary Market”) and
shall not again be quoted or listed for trading on any Primary Market within five (5) Trading Days of such delisting; and


 


(vi) A Change in Control
Transaction occurs.


  


(b) During
the time that any portion of this Debenture is outstanding, if any Event of Default has occurred, the full principal amount
of this Debenture, together with interest and other amounts owing in respect thereof, to the date of acceleration shall
become at the Holder's election, immediately due and payable in cash upon ten (10) days written notice, provided
however, the Holder may request (but shall have no obligation to request) payment of such amounts in shares of Common
Stock of the Obligor. In addition to any other remedies, the Holder shall have the right (but not the obligation) to convert
this Debenture at any time after (x) an Event of Default or (y) the Maturity Date at the Conversion Price then in-effect. The
Holder need not provide and the Obligor hereby waives any presentment, demand, protest or other notice of any kind, and the
Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder
and all other remedies available to it under applicable law. Such declaration may be rescinded and annulled by Holder at any
time prior to payment hereunder. No such rescission or annulment shall affect any subsequent Event of Default or impair any
right consequent thereon. Upon an Event of Default, notwithstanding any other provision of this Debenture or any Transaction
Document, the Holder shall have no obligation to comply with or adhere to any limitations, if any, on the conversion of this
Debenture or the sale of the Underlying Shares.


 






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(c) During the
time that any portion of this Debenture is outstanding, if any Qualified Financing has occurred, the full principal amount of this
Debenture, together with interest and other amounts owing in respect thereof, shall become immediately due and payable and, at
the Holder’s option, shall be paid off in cash with the proceeds from the Qualified Financing within ten (10) days of the
Company’s receipt of such proceeds.


 


Section 3. Conversion.


 


(a) (i) Conversion at Option
of Holder.


 


(A) This Debenture
shall be convertible into shares of Common Stock at the option of the Holder, in whole or in part at any time and from time to
time, after the Original Issue Date (as defined in Section 4) (subject to the limitations on conversion set forth in Section
3(a)(ii) hereof). The number of shares of Common Stock issuable upon a conversion hereunder equals the quotient obtained by
dividing (x) the outstanding amount of this Debenture to be converted by (y) the Conversion Price (as defined in Section 3(c)(i)).
The Obligor shall deliver Common Stock certificates to the Holder prior to the Third (3rd) Trading Day after a Conversion Date.


 


(B) Notwithstanding
anything to the contrary contained herein, if on any Conversion Date: (1) the number of shares of Common Stock at the time authorized,
unissued and unreserved for all purposes, or held as treasury stock, is insufficient to pay principal and interest hereunder in
shares of Common Stock; (2) the Common Stock is not listed or quoted for trading on the OTC or on a Subsequent Market; or (3) the
Obligor has failed to timely satisfy its conversion, then, at the option of the Holder, the Obligor, in lieu of delivering shares
of Common Stock pursuant to Section 3(a)(i)(A), shall deliver, within three (3) Trading Days of each applicable Conversion
Date, an amount in cash equal to the product of the outstanding principal amount to be converted plus any interest due therein
divided by the Conversion Price and multiplied by the highest closing price of the stock from date of the conversion notice till
the date that such cash payment is made.


 


Further, if the
Obligor shall not have delivered any cash due in respect of conversion of this Debenture or as payment of interest thereon by
the fifth (5th) Trading Day after the Conversion Date, the Holder may, by notice to the Obligor, require the
Obligor to issue shares of Common Stock pursuant to Section 3(c), except that for such purpose the Conversion Price
applicable thereto shall be the lesser of the Conversion Price on the Conversion Date and the Conversion Price on the date of
such Holder demand. Any such shares will be subject to the provisions of this Section.


 






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(C) The Holder shall
effect conversions by delivering to the Obligor a completed notice in the form attached hereto as Exhibit A (a “Conversion
Notice”). The date on which a Conversion Notice is delivered is the “Conversion Date.” Unless the
Holder is converting the entire principal amount outstanding under this Debenture, the Holder is not required to physically surrender
this Debenture to the Obligor in order to effect conversions. Conversions hereunder shall have the effect of lowering the outstanding
principal amount of this Debenture plus all accrued and unpaid interest thereon in an amount equal to the applicable conversion.
The Holder and the Obligor shall maintain records showing the principal amount converted and the date of such conversions. In the
event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the absence of manifest
error.


 


(ii) Certain Conversion Restrictions.


 


(A) The Company
shall not effect any conversions of this Debenture and the Holder shall not have the right to convert any portion of this Debenture
or receive shares of Common Stock as payment of interest hereunder to the extent that after giving effect to such conversion or
receipt of such interest payment, the Holder, together with any affiliate thereof, would beneficially own (as determined in accordance
with Section 13(d) of the Exchange Act and the rules promulgated thereunder) in excess of 4.99% of the number of shares of Common
Stock outstanding immediately after giving effect to such conversion or receipt of shares as payment of interest. Since the Holder
will not be obligated to report to the Company the number of shares of Common Stock it may hold at the time of a conversion hereunder,
unless the conversion at issue would result in the issuance of shares of Common Stock in excess of 4.99% of the then outstanding
shares of Common Stock without regard to any other shares which may be beneficially owned by the Holder or an affiliate thereof,
the Holder shall have the authority and obligation to determine whether the restriction contained in this Section will limit any
particular conversion hereunder and to the extent that the Holder determines that the limitation contained in this Section applies,
the determination of which portion of the principal amount of this Debenture is convertible shall be the responsibility and obligation
of the Holder. If the Holder has delivered a Conversion Notice for a principal amount of this Debenture that, without regard to
any other shares that the Holder or its affiliates may beneficially own, would result in the issuance in excess of the permitted
amount hereunder, the Company shall notify the Holder of this fact and shall honor the conversion for the maximum principal amount
permitted to be converted on such Conversion Date in accordance with the periods described in Section 4(a)(i) and, any principal
amount tendered for conversion in excess of the permitted amount hereunder shall remain outstanding under this Debenture. The provisions
of this Section may be waived by a Holder (but only as to itself and not to any other Holder) upon not less than 65 days prior
notice to the Company. Other Holders shall be unaffected by any such waiver.


 






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(b) (i) Nothing
herein shall limit a Holder's right to pursue actual damages or declare an Event of Default pursuant to Section 2 herein
for the Obligor 's failure to deliver certificates representing shares of Common Stock upon conversion within the period specified
herein and such Holder shall have the right to pursue all remedies available to it at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief, in each case without the need to post a bond or provide other security.
The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof
or under applicable law.


  


(ii) In addition
to any other rights available to the Holder, if the Obligor fails to deliver to the Holder such certificate or certificates pursuant
to Section 3(a)(i)(A) by the fifth (5th) Trading Day after the Conversion Date, and if after such fifth (5th)
Trading Day the Holder purchases (in an open market transaction or otherwise) Common Stock to deliver in satisfaction of a sale
by such Holder of the Underlying Shares which the Holder anticipated receiving upon such conversion (a “Buy-In”),
then the Obligor shall (A) pay in cash to the Holder (in addition to any remedies available to or elected by the Holder) the amount
by which (x) the Holder's total purchase price (including brokerage commissions, if any) for the Common Stock so purchased exceeds
(y) the product of (1) the aggregate number of shares of Common Stock that such Holder anticipated receiving from the conversion
at issue multiplied by (2) the market price of the Common Stock at the time of the sale giving rise to such purchase obligation
and (B) at the option of the Holder, either reissue a Debenture in the principal amount equal to the principal amount of the attempted
conversion or deliver to the Holder the number of shares of Common Stock that would have been issued had the Obligor timely complied
with its delivery requirements under Section 3(a)(i)(A). For example, if the Holder purchases Common Stock having a total
purchase price of $11,000 to cover a Buy-In with respect to an attempted conversion of Debentures with respect to which the market
price of the Underlying Shares on the date of conversion was a total of $10,000 under clause (A) of the immediately preceding sentence,
the Obligor shall be required to pay the Holder $1,000. The Holder shall provide the Obligor written notice indicating the amounts
payable to the Holder in respect of the Buy-In.


 


(c) (i) The
Holder is entitled, at its option, to convert, and sell on the same day, at any time, until payment in full of this Debenture,
all or any part of the principal amount of the Debenture, plus accrued interest, into shares of the Company’s common stock,
par value $0.0001 per share, at the price per share equal to $0.03 (the “Conversion Price”).


 


(ii) If the
Obligor, at any time while this Debenture is outstanding, shall (a) pay a stock dividend or otherwise make a
distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in
shares of Common Stock, (b) subdivide outstanding shares of Common Stock into a larger number of shares, (c) combine
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (d) issue by
reclassification of shares of the Common Stock any shares of capital stock of the Obligor, then the Conversion Price shall be
multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if
any) outstanding before such event and of which the denominator shall be the number of shares of Common Stock outstanding
after such event. Any adjustment made pursuant to this Section shall become effective immediately after the record date for
the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately
after the effective date in the case of a subdivision, combination or re-classification.


 






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(iii) If the Obligor,
at any time while this Debenture is outstanding, shall issue rights, options or warrants to all holders of Common Stock (and not
to the Holder) entitling them to subscribe for or purchase shares of Common Stock at a price per share less than the Conversion
Price, then the Conversion Price shall be reduced to the price of such issuance. Such adjustment shall be made whenever such rights
or warrants are issued, and shall become effective immediately after the record date for the determination of stockholders entitled
to receive such rights, options or warrants. However, upon the expiration of any such right, option or warrant to purchase shares
of the Common Stock the issuance of which resulted in an adjustment in the Conversion Price pursuant to this Section, if any such
right, option or warrant shall expire and shall not have been exercised, the Conversion Price shall immediately upon such expiration
be recomputed and effective immediately upon such expiration be increased to the price which it would have been (but reflecting
any other adjustments in the Conversion Price made pursuant to the provisions of this Section after the issuance of such rights
or warrants) had the adjustment of the Conversion Price made upon the issuance of such rights, options or warrants been made on
the basis of offering for subscription or purchase only that number of shares of the Common Stock actually purchased upon the exercise
of such rights, options or warrants actually exercised.


 


(iv)  If the
Obligor or any subsidiary thereof, as applicable, at any time while this Debenture is outstanding, shall issue shares of
Common Stock or rights, warrants, options or other securities or debt that are convertible into or exchangeable for shares of
Common Stock (“Common Stock Equivalents”) entitling any Person to acquire shares of Common Stock, at a
price per share less than the Conversion Price (if the holder of the Common Stock or Common Stock Equivalent so issued shall
at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange
prices or otherwise, or due to warrants, options or rights per share which is issued in connection with such issuance, be
entitled to receive shares of Common Stock at a price per share which is less than the Conversion Price, such issuance shall
be deemed to have occurred for less than the Conversion Price), then the Conversion Price shall be adjusted to mirror the
conversion, exchange or purchase price for such Common Stock or Common Stock Equivalents (including any reset provisions
thereof) at issue. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. The
Obligor shall notify the Holder in writing, no later than one (1) business day following the issuance of any Common Stock or
Common Stock Equivalent subject to this Section, indicating therein the applicable issuance price, or of applicable reset
price, exchange price, conversion price and other pricing terms. No adjustment under this Section shall be made as a result
of issuances of Common Stock or Common Stock Equivalents for compensatory purposes, strategic relationships or
acquisitions.


 






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(v) If the Obligor,
at any time while this Debenture is outstanding, shall distribute to all holders of Common Stock (and not to the Holder) evidences
of its indebtedness or assets or rights or warrants to subscribe for or purchase any security, then in each such case the Conversion
Price at which this Debenture shall thereafter be convertible shall be determined by multiplying the Conversion Price in effect
immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution by a fraction
of which the denominator shall be the Closing Bid Price determined as of the record date mentioned above, and of which the numerator
shall be such Closing Bid Price on such record date less the then fair market value at such record date of the portion of such
assets or evidence of indebtedness so distributed applicable to one outstanding share of the Common Stock as determined by the
Board of Directors in good faith. In either case the adjustments shall be described in a statement provided to the Holder of the
portion of assets or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common Stock.
Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the record date
mentioned above.


 


(vi) In case of
any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is converted into
other securities, cash or property, the Holder shall have the right thereafter to, at its option, (A) convert the then outstanding
principal amount, together with all accrued but unpaid interest and any other amounts then owing hereunder in respect of this Debenture
into the shares of stock and other securities, cash and property receivable upon or deemed to be held by holders of the Common
Stock following such reclassification or share exchange, and the Holder of this Debenture shall be entitled upon such event to
receive such amount of securities, cash or property as the shares of the Common Stock of the Obligor into which the then outstanding
principal amount, together with all accrued but unpaid interest and any other amounts then owing hereunder in respect of this Debenture
could have been converted immediately prior to such reclassification or share exchange would have been entitled, or (B) require
the Obligor to prepay the outstanding principal amount of this Debenture, plus all interest and other amounts due and payable thereon.
The entire prepayment price shall be paid in cash. This provision shall similarly apply to successive reclassifications or share
exchanges.


 


(vii) The Obligor
shall maintain a share reserve of not less than one hundred percent (100%) of the shares of Common Stock issuable upon conversion
of this Debenture; and within three (3) Business Days following the receipt by the Obligor of a Holder's notice that such minimum
number of Underlying Shares is not so reserved, the Obligor shall promptly reserve a sufficient number of shares of Common Stock
to comply with such requirement.


 


(viii) All price
calculations under this Section 3 shall be rounded to the nearest $0.001.


 






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(ix) Whenever the
Conversion Price is adjusted pursuant to Section 3 hereof, the Obligor shall promptly mail to the Holder a notice setting
forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.


  


(x) In case of any
(1) merger or consolidation of the Obligor or any subsidiary of the Obligor with or into another Person, or (2) sale by the Obligor
or any subsidiary of the Obligor of more than one-half of the assets of the Obligor in one or a series of related transactions,
this debenture shall become immediately due and payable.


  


(d) The Obligor covenants that it will
at all times reserve and keep available out of its authorized and unissued shares of Common Stock solely for the purpose of issuance
upon conversion of this Debenture and payment of interest on this Debenture, each as herein provided, free from preemptive rights
or any other actual contingent purchase rights of persons other than the Holder, not less than such number of shares of the Common
Stock as shall (subject to any additional requirements of the Obligor as to reservation of such shares set forth in this Debenture)
be issuable (taking into account the adjustments and restrictions of Sections 2(b) and 3(c)) upon the conversion of the
outstanding principal amount of this Debenture and payment of interest hereunder. The Obligor covenants that all shares of Common
Stock that shall be so issuable shall, upon issue, be duly and validly authorized, issued and fully paid, nonassessable.


 


(e) Upon a conversion
hereunder the Obligor shall not be required to issue stock certificates representing fractions of shares of the Common Stock, but
may if otherwise permitted, make a cash payment in respect of any final fraction of a share based on the Closing Bid Price at such
time. If the Obligor elects not, or is unable, to make such a cash payment, the Holder shall be entitled to receive, in lieu of
the final fraction of a share, one whole share of Common Stock.


 


(f) The issuance
of certificates for shares of the Common Stock on conversion of this Debenture shall be made without charge to the Holder thereof
for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificate, provided
that the Obligor shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance and
delivery of any such certificate upon conversion in a name other than that of the Holder of such Debenture so converted and the
Obligor shall not be required to issue or deliver such certificates unless or until the person or persons requesting the issuance
thereof shall have paid to the Obligor the amount of such tax or shall have established to the satisfaction of the Obligor that
such tax has been paid.


 


(g) 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); or (iii) one (1) trading 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:


 






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	If to the Company, to:	ID Global Solutions Corporation
	 	
        160 East Lake Brantley Drive

        

	 	Longwood, FL 32779
	 	Attention: Thomas R. Szoke, CEO
	 	Telephone: (407) 951-8640
	 	Facsimile:  
	 	 


 


 


	With a copy to:	
        Fleming PLLC

        Attn: Stephen Fleming

	 	
        49 Front Street, Suite 206

        Rockville Centre, NY 11570

	 	Telephone: (516) 833-5034 
	 	Facsimile: (516) 977-1029
	 	 


 


If to the Holder, to the address set forth in the Purchase Agreement.


 


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.


 


Section 4. Definitions.
For the purposes hereof, the following terms shall have the following meanings:


 


“Business
Day” means any day except Saturday, Sunday and any day which shall be a federal legal holiday in the United States or
a day on which banking institutions are authorized or required by law or other government action to close.


 






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“Change
of Control Transaction” means the occurrence of (a) an acquisition after the date hereof by an individual or legal
entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control
(whether through legal or beneficial ownership of capital stock of the Obligor, by contract or otherwise) of in excess of
fifty percent (50%) of the voting securities of the Obligor (except that the acquisition of voting securities by the Holder
shall not constitute a Change of Control Transaction for purposes hereof), (b) a replacement at one time or over time of more
than one-half of the members of the board of directors of the Obligor which is not approved by a majority of those
individuals who are members of the board of directors on the date hereof (or by those individuals who are serving as members
of the board of directors on any date whose nomination to the board of directors was approved by a majority of the members of
the board of directors who are members on the date hereof), (c) the merger, consolidation or sale of fifty percent (50%) or
more of the assets of the Obligor or any subsidiary of the Obligor in one or a series of related transactions with or into
another entity, (d) the termination of Thomas Szoke and Douglas Solomon or (e) the execution by the Obligor of an agreement
to which the Obligor is a party or by which it is bound, providing for any of the events set forth above in (a), (b), (c) or
(d). Any merger, or acquisition with an affiliate of the Obligor shall not be considered a Change in Control Transaction.


 


“Commission”
means the Securities and Exchange Commission.


 


“Common Stock”
means the common stock, par value $0.0001 per share, of the Obligor and stock of any other class into which such shares may hereafter
be changed or reclassified.


 


“Conversion
Date” shall mean the date upon which the Holder gives the Obligor notice of their intention to effectuate a conversion
of this Debenture into shares of the Company’s Common Stock as outlined herein.


 


“Exchange
Act” means the Securities Exchange Act of 1934, as amended.


 


“Original
Issue Date” shall mean the date of the first issuance of this Debenture regardless of the number of transfers and regardless
of the number of instruments, which may be issued to evidence such Debenture.


 


“Closing Bid
Price” means the price per share in the last reported trade of the Common Stock on the Primary Market or on the exchange
which the Common Stock is then listed as quoted by Bloomberg, LP.


 


“Person”
means a corporation, an association, a partnership, organization, a business, an individual, a government or political subdivision
thereof or a governmental agency.


 


“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.


 


“Trading
Day” means a day on which the shares of Common Stock are quoted on the Primary Market or the market on which the
shares of Common Stock are then quoted or listed; provided, that in the event that the shares of Common Stock are not listed
or quoted, then Trading Day shall mean a Business Day.


 






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“Transaction
Documents” means the Securities Purchase Agreement dated _______, 2015 between the Obligor and the Holder and any and
all related documents, agreements and instruments thereto and the Security Agreement.


 


“Underlying
Shares” means the shares of Common Stock issuable upon conversion of this Debenture or as payment of interest in accordance
with the terms hereof.


 


Section 5. Except
as expressly provided herein, no provision of this Debenture shall alter or impair the obligations of the Obligor, which are absolute
and unconditional, to pay the principal of, interest and other charges (if any) on, this Debenture at the time, place, and rate,
and in the coin or currency, herein prescribed. This Debenture is a direct obligation of the Obligor. This Debenture ranks pari
passu with all other Debentures now or hereafter issued under the terms set forth herein.


 


Section 6. This
Debenture shall not entitle the Holder to any of the rights of a stockholder of the Obligor, including without limitation, the
right to vote, to receive dividends and other distributions, or to receive any notice of, or to attend, meetings of stockholders
or any other proceedings of the Obligor, unless and to the extent converted into shares of Common Stock in accordance with the
terms hereof.


 


Section 7. If
this Debenture is mutilated, lost, stolen or destroyed, the Obligor shall execute and deliver, in exchange and substitution for
and upon cancellation of the mutilated Debenture, or in lieu of or in substitution for a lost, stolen or destroyed Debenture, a
new Debenture for the principal amount of this Debenture so mutilated, lost, stolen or destroyed but only upon receipt of evidence
of such loss, theft or destruction of such Debenture, and of the ownership hereof, and indemnity, if requested, all reasonably
satisfactory to the Obligor.


 


Section 8. No
indebtedness of the Obligor is senior to this Debenture in right of payment, whether with respect to interest, damages or upon
liquidation or dissolution or otherwise. Without the Holder’s consent, the Obligor will not and will not permit any of their
subsidiaries to, directly or indirectly, enter into, create, incur, assume or suffer to exist any indebtedness of any kind, on
or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits
there from that is senior in any respect to the obligations of the Obligor under this Debenture.


 


Section
9. This Debenture shall be governed by and construed in accordance with the laws of the State of Florida,
without giving effect to conflicts of laws thereof. Each of the parties consents to the jurisdiction of the Courts of the
State of Florida sitting in Orlando, Florida and the U.S. District Court sitting in Orlando, Florida in connection with
any dispute arising under this Debenture and hereby waives, to the maximum extent permitted by law, any objection, including
any objection based on forum non conveniens to the bringing of any such proceeding in such
jurisdictions.


 






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Section 10. If
the Obligor fails to strictly comply with the terms of this Debenture, then the Obligor shall reimburse the Holder promptly for
all fees, costs and expenses, including, without limitation, attorneys’ fees and expenses incurred by the Holder in any action
in connection with this Debenture, including, without limitation, those incurred: (i) during any workout, attempted workout, and/or
in connection with the rendering of legal advice as to the Holder’s rights, remedies and obligations, (ii) collecting any
sums which become due to the Holder, (iii) defending or prosecuting any proceeding or any counterclaim to any proceeding or appeal;
or (iv) the protection, preservation or enforcement of any rights or remedies of the Holder.


 


Section 11. Any
waiver by the Holder of a breach of any provision of this Debenture 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 Debenture. The failure of the Holder to insist upon
strict adherence to any term of this Debenture 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 Debenture. Any waiver must be in
writing.


 


Section 12. If
any provision of this Debenture is invalid, illegal or unenforceable, the balance of this Debenture shall remain in effect, and
if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and
circumstances. If it shall be found that any interest or other amount deemed interest due hereunder shall violate applicable laws
governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum permitted rate
of interest. The Obligor covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would
prohibit or forgive the Obligor from paying all or any portion of the principal of or interest on this Debenture as contemplated
herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this indenture,
and the Obligor (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants
that it will not, by resort to any such law, hinder, delay or impeded the execution of any power herein granted to the Holder,
but will suffer and permit the execution of every such as though no such law has been enacted.


 


Section 13. Whenever
any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day.


 


Section
14. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY
TRANSACTION DOCUMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY
PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES’ ACCEPTANCE OF THIS AGREEMENT.


 


[SIGNATURE PAGE FOLLOWS; REMAINDER OF
PAGE INTENTIONALLY BLANK]


 


 






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


 


	 	ID GLOBAL SOLUTIONS CORPORATION 
	 	 	 
	 	By:	 
	 	 	Name: Thomas R. Szoke 
	 	 	Title: Chief Executive Officer


 


 



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EXHIBIT “A”


 


CONVERSION NOTICE


 


(To be executed by the Holder in order
to Convert the Debenture)


 


 


	TO: 


 


The undersigned hereby irrevocably elects
to convert $__________________ of the principal amount of Debenture No. ____ into Shares of Common Stock of ID GLOBAL SOLUTIONS
CORPORATION, according to the conditions stated therein, as of the Conversion Date written below.


 


	Conversion Date:	 
	Amount to be converted:	$
	Conversion Price:	$
	Number of shares of Common Stock to be issued:	 
	
        Amount of Debenture

        Unconverted:
	$          
	 	 
	 	 
	Please issue the shares of Common Stock in the following name and to the following address:
	Issue to:	 
	 	 
	Authorized Signature:	 
	Name:	 
	Title:	 
	Broker DTC Participant Code:	 
	Account Number:	 


 




 


 


 


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