THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)



 


US
$60,950.00


 


TAURIGA
SCIENCES, INC.


12%
CONVERTIBLE REDEEMABLE NOTE


DUE
DECEMBER 19, 2017


BACK
END NOTE


 


FOR
VALUE RECEIVED, Tauriga Sciences, Inc. (the “Company”) promises to pay to the order of ADAR BAYS, LLC and its authorized
successors and Permitted Assigns, defined below, (“Holder”), the aggregate principal face amount of Sixty Thousand
Nine Hundred Fifty Dollars exactly (U.S. $60,950.00) on December 19, 2017 (“Maturity Date”) and to pay interest
on the principal amount outstanding hereunder at the rate of 12% per annum commencing on December 19, 2016. This Note contains
a 15% OID such that the purchase price is $53,000.00. The interest will be paid to the Holder in whose name this Note is registered
on the records of the Company regarding registration and transfers of this Note. The principal of, and interest on, this Note
are payable at 3411 Indian Creek Drive, Suite 403, Miami Beach, FL 33140, initially, and if changed, last appearing on the records
of the Company as designated in writing by the Holder hereof from time to time. The Company will pay each interest payment and
the outstanding principal due upon this Note before or on the Maturity Date, less any amounts required by law to be deducted or
withheld, to the Holder of this Note by check or wire transfer addressed to such Holder at the last address appearing on the records
of the Company. The forwarding of such check or wire transfer shall constitute a payment of outstanding principal hereunder and
shall satisfy and discharge the liability for principal on this Note to the extent of the sum represented by such check or wire
transfer. Interest shall be payable in Common Stock (as defined below) pursuant to paragraph 4(b) herein. Permitted Assigns means
any Holder assignment, transfer or sale of all or a portion of this Note accompanied by an Opinion of Counsel as provided for
in Section 2(f) of the Securities Purchase Agreement.


 




    	 



    	 



    


 


This
Note is subject to the following additional provisions:


 





1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as
requested by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange,
except that Holder shall pay any tax or other governmental charges payable in connection therewith. To the extent that Holder
subsequently transfers, assigns, sells or exchanges any of the multiple lesser denomination notes, Holder acknowledges that
it will provide the Company with Opinions of Counsel as provided for in Section 2(f) of the Securities Purchase
Agreement.


 


2.
The Company shall be entitled to withhold from all payments any amounts required to be withheld under applicable
laws.


 


3.
This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended
(“Act”), applicable state securities laws and Sections 2(f) and 5(f) of the Securities Purchase Agreement.
Any attempted transfer to a non-qualifying party shall be treated by the Company as void. Prior to due presentment for
transfer of this Note, the Company and any agent of the Company may treat the person in whose name this Note is duly
registered on the Company’s records as the owner hereof for all other purposes, whether or not this Note be overdue,
and neither the Company nor any such agent shall be affected or bound by notice to the contrary. Any Holder of this Note
electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements set forth in
Section 4(a), and any prequalified prospective transferee of this Note, also is required to give the Company written
confirmation that this Note is being converted (“Notice of Conversion”) in the form annexed hereto as Exhibit
A. The date of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion Date. All
notices of conversion will be accompanied by an Opinion of Counsel.


 


4.
(a) The Holder of this Note is entitled, at its option, at any time after the date of
funding to the Company by the Holder, to convert all or any amount of the principal face amount of this Note then outstanding
into shares of the Company’s common stock (the “Common Stock”) at a price (“Conversion
Price”) for each share of Common Stock equal to 65% of the lowest trading price of the Common
Stock as reported on the National Quotations Bureau OTC Market exchange which the Company’s shares are traded or any
exchange upon which the Common Stock may be traded in the future (“Exchange”), for the twenty
prior trading days including the day upon which a Notice of Conversion is received by the Company (provided such Notice of
Conversion is delivered together with an Opinion of Counsel, by fax or other electronic method of communication to the
Company after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same day closing price).
If the shares have not been delivered within 3 business days, the Notice of Conversion may be rescinded. Such conversion
shall be effectuated by the Company delivering the shares of Common Stock to the Holder within 3 business days of receipt by
the Company of the Notice of Conversion. Accrued, but unpaid interest shall be subject to conversion. No fractional shares or
scrip representing fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded to
the nearest whole share. To the extent the Conversion Price of the Company’s Common Stock closes below the par value
per share, the Company will take all steps necessary to solicit the consent of the stockholders to reduce the par value to
the lowest value possible under law. The Company agrees to honor all conversions submitted pending this increase. In the
event the Company experiences a DTC “Chill” on its shares, the conversion price shall be decreased to 55% instead
of 65% while that “Chill” is in effect. In no event shall the Holder be allowed to effect a conversion if
such conversion, along with all other shares of Company Common Stock beneficially owned by the Holder and its affiliates
would exceed 9.9% of the outstanding shares of the Common Stock of the Company.


 




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(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 12% per annum. Interest shall be paid by
the Company in Common Stock (“Interest Shares”). Holder may, at any time commencing six months after the date of
funding to the Company by the Holder, send in a Notice of Conversion to the Company for Interest Shares based on the formula
provided in Section 4(a) above. The dollar amount converted into Interest Shares shall be all or a portion of the accrued
interest calculated on the unpaid principal balance of this Note to the date of such notice.


 


(c)
This Note may not be prepaid after cash payment by the Holder.


 


(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series
of related transactions, (ii) a reclassification, capital reorganization (excluding an increase in authorized capital) or
other change or exchange of out- standing shares of the Common Stock, other than a forward or reverse stock split or stock
dividend, or (iii) any consolidation or merger of the Company with or into another person or entity in which the Company is
not the surviving entity (other than a merger which is effected solely to change the jurisdiction of incorporation of the
Company and results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares of
Common Stock) (each of items (i), (ii) and (iii) being referred to as a “Sale Event”), then, in each case, the
Company shall, upon request of the Holder, redeem this Note in cash for 150% of the principal amount, plus accrued but unpaid
interest through the date of redemption, or at the election of the Holder, such Holder may convert the unpaid principal
amount of this Note (together with the amount of accrued but unpaid interest) into shares of Common Stock immediately prior
to such Sale Event at the Conversion Price.


 


(e)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection
with which this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder
of this Note shall have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and
number of shares of stock or other securities or property (including cash) receivable upon such reclassification, capital
reorganization or other change, consolidation or merger by a holder of the number of shares of Common Stock that could have
been purchased upon exercise of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such
Sale Event. The foregoing provisions shall similarly apply to successive Sale Events. If the consideration received by
the holders of Common Stock is other than cash, the value shall be as determined by the Board of Directors of the Company or
successor person or entity acting in good faith.


 




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5.
No provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.


 


6.
The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest,
notice of dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts
called for hereunder and shall be directly and primarily liable for the payment of all sums owing and to be owing
hereto.


 


7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be
incurred by the Holder in collecting any amount due under this Note.


 


8.
If one or more of the following described “Events of Default” shall occur:


 


(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the
Company; or


 


(b)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written
statements heretofore or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of
this Note, or the Securities Purchase Agreement under which this note was issued shall be false or misleading in any respect;
or


 


(c)
The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or
obligation of the Company under this Note or any other note issued to the Holder; or


 


(d)
The Company shall (1) become insolvent (which does not include a “going concern opinion); (2) admit in writing its
inability to pay its debts generally as they mature; (3) make an assignment for the benefit of creditors or commence
proceedings for its dissolution; (4) apply for or consent to the appointment of a trustee, liquidator or receiver for its or
for a substantial part of its property or business; (5) file a petition for bankruptcy relief, consent to the filing of such
petition or have filed against it an involuntary petition for bankruptcy relief, all under federal or state laws as
applicable; or


 


(e)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business
without its consent and shall not be discharged within sixty (60) days after such appointment; or


 


(f)
Any governmental agency or any court of competent jurisdiction at the in- stance of any governmental agency shall assume
custody or control of the whole or any substantial portion of the properties or assets of the Company; or


 


(g)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of one hundred
thousand dollars ($100,000) in the aggregate, shall be entered or filed against the Company or any of its properties or other
assets and shall remain unpaid, unvacated, unbonded or unstayed for a period of fifteen (15) days or in any event later than
five (5) days prior to the date of any proposed sale thereunder; or


 




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(h)
Defaulted on or breached any term of any other note of similar debt instrument into which the Company has entered and failed
to cure such default within the appropriate grace period; or


 


(i)
The Company shall have its Common Stock delisted from an exchange (including the OTC Markets exchange) or, if the Common
Stock trades on an exchange, then trading in the Common Stock shall be suspended for more than 10 consecutive days or ceases
to file its 1934 act reports with the SEC;


 


(j)
If a majority of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of
the Board;


 


(k)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend
within 3 business days of its receipt of a Notice of Conversion which includes an Opinion of Counsel expressing an opinion
which supports the removal of a restrictive legend; or


 


(l)
The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the request of the
Holder.


 


(m)
The Company’s Common Stock has a closing bid price of less than $0.003 per share for at least 5 consecutive trading
days; or


 


(n)
The aggregate dollar trading volume of the Company’s Common Stock is less than thirty thousand dollars ($30,000.00) in
any 5 consecutive trading days; or


 


(o)
The Company shall cease to be “current” in its filings with the Securities and Exchange Commission; or


 


(p)
The Company shall lose the “bid” price for its stock in a market (including the OTC marketplace or other
exchange)


 


Then,
or at any time thereafter, unless cured within 5 days (except for 8(m) and 8(n) which are incurable defaults, the sole remedy
of which is to allow the Holder to cancel both this Note and the Holder Issued Note, and in each and every such case, unless
such Event of Default shall have been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any
subsequent default) at the option of the Holder and in the Holder’s sole discretion, the Holder may consider this Note immediately
due and payable, without presentment, demand, protest or (further) notice of any kind (other than notice of acceleration), all
of which are hereby expressly waived, anything herein or in any note or other instruments contained to the contrary notwithstanding,
and the Holder may immediately, and without expiration of any period of grace, enforce any and all of the Holder’s rights
and remedies provided herein or any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue
at a default interest rate of 24% per annum or, if such rate is usurious or not permitted by current law, then at the highest
rate of interest permitted by law. In the event of a breach of Section 8(k) the penalty shall be $250 per day the shares are not
issued beginning on the 4th day after the conversion notice was delivered to the Company. This penalty shall increase
to $500 per day beginning on the 10th day. The penalty for a breach of Section 8(p) shall be an increase of the outstanding
principal amounts by 20%. In case of a breach of Section 8(i), the outstanding principal due under this Note shall increase by
50%. Further, if a breach of Section 8(o) occurs or is continuing after the 6 month anniversary of the Note, then the Holder shall
be entitled to use the lowest closing bid price during the delinquency period as a base price for the conversion. For example,
if the lowest closing bid price during the delinquency period is $0.01 per share and the conversion discount is 50% the Holder
may elect to convert future con- versions at $0.005 per share.


 




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If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.


 


Make-Whole
for Failure to Deliver Loss. At the Holder’s election, if the Company fails for any reason to deliver to the Holder the
conversion shares by the by the 3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder
incurs a Failure to Deliver Loss, then at any time the Holder may provide the Company written notice indicating the amounts payable
to the Holder in respect of the Failure to Deliver Loss and the Company must make the Holder whole as follows:


 


Failure
to Deliver Loss = [(High trade price at any time on or after the day of exercise) x (Number of conversion shares)]


 


The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day
from the time of the Holder’s written notice to the Company.


 


9.
In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid
or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum
extent possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected
or impaired thereby.


 


10.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument
signed by the Company and the Holder.


 


11.
The Company represents that it is not a “shell” issuer and that if it previously has been a “shell”
issuer that at least 12 months have passed since the Company has reported Form 10 type information indicating it is no longer
a “shell issuer.


 




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12.
Prior to cash funding of this Note, The Company will issue irrevocable 6 transfer agent instructions reserving 3x the number
of shares of Common Stock necessary to allow the holder to convert this note based on the discounted conversion price set
forth in Section 4(a) herewith. Upon full conversion of this Note, the reserve representing this Note shall be cancelled. The
Company will pay all transfer agent costs associated with issuing and delivering the shares. If such amounts are to be paid
by the Holder, it may deduct such amounts from the Conversion Price. Conversion Notices may be sent to the Company or its
transfer agent via electric mail. The Company will instruct its transfer agent to provide the outstanding share information
to the Holder in connection with its conversions.


 


13.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock
splits, recapitalizations etc. This notice shall be given to the Holder as soon as possible under law.


 


14.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly
to be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The
Holder and the Company hereby mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of
the State of New York or in the Federal courts sitting in the county or city of New York. This Agreement may be executed in
counterparts, and the facsimile transmission of an executed counterpart to this Agreement shall be effective as an
original.


 




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


 


Dated:
12/19/2016


 


	 	TAURIGA SCIENCES, INC.
	 	 
	 	By:
    	Seth
M. Shaw
	 	Title:
    	CEO/Chairman


 




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