DEMAND
PROMISSORY NOTE


 


	U.S. $20,000.00	November 20, 2014


 


The
undersigned, Alterola
Biotech Inc.,
a corporation
organized under
the laws
of Nevada
(the “Company”),
hereby promises
to pay
to the
order of
Glamis Capital
S.A., a
corporation organized
under the
laws of
the Marshall
Islands (together
with its
successors and assigns,
the “Holder”), the
principal sum of Twenty Thousand ($20,000.00)
United States Dollars,
together with simple
interest from the date hereof
on the
unpaid balance
thereof at
10% per annum,
on the date
two business
days after
receipt of
demand for
payment (such date,
the “Maturity Date”).


 


Interest
shall be computed
on the basis
of a 365-day year
or 366-day year
as applicable
and actual
days lapsed.
The Company shall
have the privilege
of prepaying
the principal
under this
Demand Promissory
Note (the
“Note”) in
whole or
in part,
without penalty
or premium
at any time.
All payments
hereunder shall
be applied first
to interest, then to
principal. All
interest due
and payable hereunder
shall be cumulated
and accrue interest at the
rate hereunder.


 


Payments
due hereunder
are to
be made
by wire
transfer to
such bank account
of the Holder
as the
Holder may
from time
to time designate,
in lawful
money of
the United
States of
America.


 


This
Note and
all amounts
outstanding shall
immediately and
automatically mature
and become
due and payable,
without presentment,
demand, protest
or notice,
all of
which are
hereby waived,
in the
event that
the Company
files a
voluntary petition
in bankruptcy or
an involuntary
petition is
filed against
it and
not dismissed within
ten days.


 


Neither
this Note
nor any term
hereof may
be amended or
waived orally or
in writing, except
that any
term of
this Note may
be amended and
the observance
of any term
of this Note may
be waived
(either generally
or in
a particular
instance and
either retroactively
or prospectively) with
(but only with)
the written consent
of the Company
and the Holder. This Note
shall inure to the
benefit of the Holder of this
Note and
the Company and
their respective successors
and assigns and be
binding upon the
Holder of this Note
and the Company
and their
respective successors
and assigns.


 


Any
notice or
communication must
be given
in writing
or delivered
in person,
or by overnight
courier, or
by facsimile addressed
as follows:


 


if
to the
Company:


rl@alterolabiotech.com


Attention:
Rene Lauritsen


if
to the
Holder at
the address
specified in
writing by
the Holder,
or at such other
address and
to the
attention of such
other person as the Company
or the
Holder may
designate by written
notice to the other.
Any such
notice or
communication is
effective (x)
when received,
if delivered
in person
or by
facsimile, or
(y) on
the next
business day,
if delivered
by overnight
courier.


 


The
Holder may
sell, transfer,
assign, encumber
or otherwise
dispose of
this Note
in whole
or in part,
other than
as may be
prohibited by
applicable law.


 






    	 



    	 



    




This
Note is
governed by
and shall
be construed
and enforced
in accordance
with the
laws of
the State
of Nevada
for contracts
made and
wholly performed
within that
state and
shall be
construed as
if drafted
equally by the
Company and
the Holder. The
Company hereby
submits to the
exclusive personal jurisdiction
of the courts of
the State of Nevada
and the federal courts
of the United
States sitting in Clark
County, and any appellate court
from any such state or
federal court.


 


No
failure or
delay on the
part of
the Holder
in exercising
any power
or right
hereunder, and
no course
of dealing between
the Company
and the Holder
of this Note,
shall operate
as a waiver
thereof, nor shall
any single
or partial
exercise of
any such
right or
power, or
any abandonment
or discontinuance
of steps
to enforce
such a
right or power, preclude
any other or further
exercise thereof
or the exercise
of any other
right or power.


 


As
used in
this Note,
the term “business
day” means
any day that
is not a
Saturday, Sunday
or other
day on which
the commercial
banks in Las
Vegas, Nevada
are authorized
or required
by applicable law
to remain closed.


 


Should
any provision
of this
Note be
judicially declared
to be invalid,
unenforceable or
void, such
decision will
not have
the effect
of invalidating
or voiding
the remainder
of this
Note, and
the parties
hereto agree that
the provision of
this Note
so held to
be invalid, unenforceable
or void will
be deemed to have
been stricken herefrom and the
remainder will have the same
force and effectiveness as if
such provision had
never been included
herein, provided, however
the parties hereto
shall use their
best efforts
to replace the
provision so deemed to have been stricken
herefrom with a provision
that the parties
reasonably believe
to be valid
and enforceable and
which has a substantially identical
economic and
legal effect
as the
provision so deemed
to have been
stricken herefrom.


 


IN
WITNESS WHEREOF,
the Company
has caused
this Note
to be made,
executed and
delivered by
its duly authorized
officer as
of the
day and year
first written above.


 


 


By:
/s/ Rene Lauritsen


Name:
 Rene
Lauritsen


Title:
President, CEO
and Director




 






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