Document:

Exhibit
10.2 

 

SHARE
PURCHASE AGREEMENT

 

This
Share Purchase Agreement (the “Agreement”), dated as of May 15, 2019, is by and among Spherix Inc. (each a
“Buyer” and collectively, the “Buyers”) and seller signatory hereto (each a “Seller”
and collectively, the “Sellers”). If there is only one Buyer or one Seller party to this Agreement, all references
to Buyers or Sellers in the plural shall instead be deemed to refer to Buyer or Seller in the singular, respectively.

 

W
I T N E S E T H:

 

WHEREAS,
the Sellers own 50,000 shares of common stock, $0.0001 par value per share (the “CBM Shares”), that were issued
by CBM Biopharma, Inc., a Delaware corporation (the “CBM”) pursuant to a Securities Purchase Agreement (the
“CBM SPA”) executed on January 25, 2018;

 

WHEREAS,
the Sellers own certain securities and uncertificated rights issued by DatChat, Inc., a Nevada corporation all of which have
been scheduled on Annex I (the “DatChat Securities” and collectively with the CBM Shares, the “Securities”),
(“DatChat”, and CBM, collectively may be referred to as the “Issuers”). The DatChat Securities
were purchased Pursuant to the transaction documents dated January 25, 2018 and amended on January 31, 2019 and April 5, 2019.

 

WHEREAS,
subject to the terms and conditions of this Agreement, the parties hereto desire that the Sellers sell, transfer, convey and assign
to Buyers, and Buyers purchase and acquire from the Sellers, the Shares and any and all rights and benefits incident to the ownership
thereof;

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

Section
1.      Sale and Purchase of Securities;
Settlement.

 

1.1       Sale
and Purchase.

 

(a)       Subject
to the terms and conditions of this Agreement, on the Closing Date (as defined below), each Seller shall sell, convey, assign
and deliver to the Buyers, and each Buyer shall purchase from the Sellers, the applicable Securities and any and all rights
and benefits incident to the ownership thereof, in each case in the quantities set forth on Annex I attached hereto and
in the transaction documents

 

(b)       The
aggregate purchase price for each Buyer and Seller is as set forth on Annex I attached hereto.

 

(c)       Within
ten (10) Business Days after the date hereof (such tenth Business Day being the “Closing Date”) each Seller
shall deliver or cause to be delivered to the applicable Issuer: (i) the certificate or other documents representing the Securities
(the “Share Certificate”) issued by the applicable Issuer; (ii) all necessary executed assignment forms required
to transfer the applicable Securities to the Buyers or their designees, (iii) notice of the transfer of any of the Seller’s
rights under the applicable transaction documents to Buyer, and (iv) written confirmation that all conditions to transfer the
Securities have been met.

 

     

     

    

 

(d)       Upon
delivery by the Sellers to the applicable Issuer and the Buyers (as applicable) of the documents referred to in Section 1.1(c)
above, each Buyer will pay the applicable purchase price, in full to the applicable Seller by wire transfer of immediately available
funds to an account or accounts designated by the applicable Seller on Annex I attached hereto, in such amounts as set forth on
Annex I attached hereto.

 

(e)       The
parties shall work together in good faith to cause the each Issuer to deliver the applicable Securities to the Buyer and cooperate
on any legal opinions that may be required. However, delivery by the Sellers to the applicable Issuer (of the documents set forth
in Section 1.1(c) above shall constitute compliance by the Sellers of all of their obligations to the Buyers under this Agreement.

 

Section
2.      Representations and Warranties
of Buyers. Each Buyer represents and warrants to the Sellers,
as of the date hereof and as of the Closing Date, as follows:

 

2.1       Organization;
Authority. Such Buyer is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization with full right, corporate, partnership or other applicable power and authority to enter into and to consummate
the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder, and the execution, delivery
and performance by such Buyer of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate
or similar action on the part of such Buyer. This Agreement, when executed and delivered by such Buyer, will constitute a valid
and legally binding obligation of such Buyer, enforceable against such Buyer in accordance with its terms, except (a) as limited
by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and any other laws of general application
affecting enforcement of creditors’ rights generally, (b) as limited by laws relating to the availability of specific performance,
injunctive relief, or other equitable remedies, or (c) to the extent the indemnification provisions contained herein may be limited
by federal or state securities laws.

 

2.2       No
Conflicts. Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby,
does or will violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge or other
restriction of any government, governmental agency, or court to which such Buyer is subject or any provision of its organizational
documents or other similar governing instruments, or conflict with, violate or constitute a default under any agreement, credit
facility, debt or other instrument or understanding to which such Buyer is a party.

 

     2

     

    

 

2.3       Advice. (i)
Such Buyer is not relying (for purposes of making any investment decision or otherwise) upon any advice, counsel or representations
(whether written or oral) of the Sellers or any of the Sellers’ directors, officers, employees, agents, representatives
or advisers, (ii) neither of the Sellers nor any of the Sellers’ directors, officers, employees, agents, representatives
or advisers has given to such Buyer (directly or indirectly through any other person) any assurance, guarantee or representation
whatsoever as to the expected or projected success, profitability, return, performance, result, effect, consequence or benefit
(including legal, regulatory, tax, financial, accounting or otherwise) as to the purchase by such Buyer of the Securities,
(iii) such Buyer has reviewed all information that it believes is necessary or appropriate in connection with its purchase of
the Securities and has consulted with its own legal, regulatory, tax, business, investment, financial and accounting advisers
to the extent it has deemed necessary, and it has made its own investment decision based upon its own judgment and upon any advice
from such advisers as it has deemed necessary and not upon any view expressed by either Sellers or any of the Sellers’ directors,
officers, employees, agents, representatives or advisers, and (iv) such Buyer has such knowledge and experience in financial,
business and international investment matters that it is capable of evaluating the merits and risks of investing in the Company
and purchasing the Securities and properly understands the risks associated with its entry into this Agreement, and such
Buyer can bear the potential losses that may result from its investment in the Company and purchase of the Securities.

 

2.4       No
Litigation. There is no action, suit, proceeding, judgment, claim or investigation pending, or to the knowledge of such Buyer,
threatened against such Buyer which could reasonably be expected in any manner to challenge or seek to prevent, enjoin, alter
or materially delay any of the transactions contemplated by this Agreement.

 

2.5       Buyer
Status. At the time such Buyer was offered the Securities, it was, at the date hereof it is, and on the Closing Date
it will be, an “accredited investor” as defined in Rule 501(a) under the Securities Act.

 

2.6       Consents.
No authorization, consent, approval or other order of, or declaration to or filing with, any governmental agency or body or other
person is required for the valid authorization, execution, delivery and performance by such Buyer of this Agreement and the consummation
of the transactions contemplated hereby.

 

2.7       Non-Public
Information. Such Buyer is not purchasing the Securities “on the basis of” (as defined in Rule 10b5-1 of
the Exchange Act) any material, non-public information about the Securities or the applicable Issuer.

 

Section
3.      Representations and Warranties
of the Sellers. Each Seller represents and warrants to the
Buyers, as of the date hereof and as of the Closing Date, as follows:

 

3.1       Authorization
of Agreement. Such Seller is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization with full right, corporate, partnership or other applicable power and authority to enter into and to consummate
the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder, and the execution, delivery
and performance by such Seller of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate
or similar action on the part of such Seller. This Agreement, when executed and delivered by the Seller, will constitute a valid
and legally binding obligation of such Seller, enforceable against such Seller in accordance with its terms, except (a) as limited
by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and any other laws of general application
affecting enforcement of creditors’ rights generally, (b) as limited by laws relating to the availability of specific performance,
injunctive relief, or other equitable remedies, or (c) to the extent the indemnification provisions contained herein may be limited
by federal or state securities laws.

 

     3

     

    

 

3.2       Title
to the Securities. Such Seller is the lawful owner of the applicable Securities listed under its name on Annex I attached
hereto with good and marketable title thereto, and, other than any restrictions contained in the applicable SPA or in the restrictive
legends on the Share Certificate, such Seller has the absolute right to sell, assign, convey, transfer and deliver such Securities
and any and all rights and benefits incident to the ownership thereof, all of which rights and benefits are transferable by
the such Seller to the applicable Buyer pursuant to this Agreement, free and clear of all the following (collectively called “Claims”)
of any nature whatsoever, including any security interests, liens, pledges, claims (pending or threatened), charges, escrows,
encumbrances, lock-up arrangements, options, rights of first offer or refusal, community property rights, mortgages, indentures,
security agreements or other agreements, arrangements, contracts, commitments, understandings or obligations, whether written
or oral and whether or not relating in any way to credit or the borrowing of money. Delivery to the applicable Buyer of the Securitieswill
(i) pass good and marketable title to the Securities to such Buyer, free and clear of all Claims (assuming that the such
Buyer is a bona fide purchaser within the meaning of Section 8-302 of the New York Uniform Commercial Code), and (ii) convey,
free and clear of all Claims, any and all rights and benefits incident to the ownership of such Securities.

 

3.3       No
Conflicts; Advice. Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated
hereby, does or will violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge
or other restriction of any government, governmental agency, or court to which such Seller is subject or any provision of its
organizational documents or other similar governing instruments, or conflict with, violate or constitute a default under any agreement,
credit facility, debt or other instrument or understanding to which such Seller is a party. Such Seller has consulted such legal,
tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its sale of
the Securities.

 

3.4       No
Litigation. There is no action, suit, proceeding, judgment, claim or investigation pending, or to the knowledge of such Seller,
threatened against such Seller which could reasonably be expected in any manner to challenge or seek to prevent, enjoin, alter
or materially delay any of the transactions contemplated by this Agreement.

 

3.5       Consents.
No authorization, consent, approval or other order of, or declaration to or filing with, any governmental agency or body or other
person is required for the valid authorization, execution, delivery and performance by such Seller of this Agreement and the consummation
of the transactions contemplated thereby.

 

3.6       Bankruptcy.
Such Seller is not under the jurisdiction of a court in a Title 11 or similar case (within the meaning of Bankruptcy Code Section
368(a)(3)(A) (or related provisions)) or involved in any insolvency proceeding or reorganization.

 

     4

     

    

 

3.7       Employees
and Affiliates. Such Seller is not, as of the date of this representation, and has not been for the last one hundred and twenty
(120) days, an employee, officer, director or direct or indirect beneficial owner of more than ten percent (10%) of any class
of equity security of the applicable Issuer, or of any entity, directly or indirectly, controlling, controlled by or under common
control with the applicable Issuer, or otherwise been an “affiliate” as that term is used in Rule 144. For purposes
of this paragraph, such “Seller” includes any person that would be included with such Seller for purposes of Rule
144(a)(2).

 

3.8       Non-Public
Information. Such Seller is not selling the Securities “on the basis of” (as defined in Rule 10b5-1 of
the Exchange Act) any material, non-public information about the Securities or the applicable Issuer.

 

3.9       No
Further Ownership. Following the transfer of the Securities to the Buyer hereunder, the Seller will no longer hold
any debt or equity interest in the either Issuer.

 

Section
4.      Survival of Representations and
Warranties; Etc. All representations and warranties of Buyers
and the Sellers shall survive the Closing Date. Seller may rely upon this Agreement for the purpose of assuring its compliance
with applicable law.

 

Section
5.       Indemnification.

 

Each
Seller hereto shall indemnify, defend and hold harmless, the Buyers (and their respective affiliates, directors, officers, employees,
successors and assigns) from and against any and all losses, claims, damages, liabilities and expenses based upon, arising out
of or otherwise in respect of, any inaccuracy in, or any breach of, the representations or warranties of such Seller and the covenants
or agreements made by such Seller in this Agreement.

 

Each
Buyer hereto shall indemnify, defend and hold harmless, the Sellers (and their respective affiliates, directors, officers, employees,
successors and assigns) from and against any and all losses, claims, damages, liabilities and expenses based upon, arising out
of or otherwise in respect of, any inaccuracy in, or any breach of, the representations or warranties of such Buyer and the covenants
or agreements made by such Buyer in this Agreement.

 

Section
6.       Notices.
Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon delivery, when delivered
personally or by overnight courier or sent by fax (upon confirmation of receipt) or electronic mail, or 72 hours after being deposited
in the U.S. mail, as certified or registered mail, with postage prepaid, addressed to the party to be notified at such party’s
address as set forth below.

 

Buyers:

 

Spherix,
Inc.

One
Rockfellar Plaza

11th
Floor

New
York, New York 10020

Attn:
Anthony Hayes, CEO

e-mail:
ahayes@spherix.com

Sellers:

 

     5

     

    

 

Section
7.      Successors and Assigns.
This Agreement shall be binding on and inure to the benefit of the parties hereto and their respective successors, heirs, personal
representatives, and permitted assigns.

 

Section
8.      Counterparts.
This Agreement may be executed via facsimile in one or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

 

Section
9.     Severability.
If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the
remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate
such substitute provision in this Agreement.

 

Section
10.    Entire Agreement.
This Agreement represents the entire agreement of the parties hereto and thereto with respect to the matters contemplated hereby
and thereby, and there are no written or oral representations, warranties, understandings or agreements with respect thereto except
as expressly set forth herein and therein.

 

Section
11.    Amendments; Waivers.
No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by
each party or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought.

 

Section
12.    Confidentiality and Lack of
Materiality.

 

The
Buyers hereby agree, without the prior written consent of the Sellers, to not disclose, and to otherwise keep confidential, the
sale of the Securities contemplated hereby; provided, however, that the Buyers may disclose information regarding such
sale to its respective accountants, attorneys, limited partners, shareholders and other interest holders, or as required by law
or legal process. Buyers confirm that both (a) the transactions contemplated herein do not constitute material information regarding
Buyers’ common stock and the Buyers will not file a Form 8-k with respect to the transactions contemplated herein and (b)
the identity of the Sellers will not be included in any of the Buyers’ public filings or disclosures.

 

Neither
this Agreement nor the transactions contemplated herby are material to the Buyer and no material, non-public information has been
provided to the Seller by the Buyer or any of its subsidiaries or any of their respective officers, directors, employees or agents.
As of the date hereof, the Buyer acknowledges and agrees that any and all confidentiality or similar obligations under any agreement,
if any, whether written or oral, between the Buyer, any of its subsidiaries or any of their respective officers, directors, affiliates,
employees or agents, on the one hand, and the Seller or any of its affiliates, on the other hand, shall terminate. Notwithstanding
anything contained in this Agreement to the contrary and without implication that the contrary would otherwise be true, the Buyer
expressly acknowledges and agrees that the Seller shall not have (unless expressly agreed to by the Seller after the date hereof
in a written definitive and binding agreement executed by the Buyer and the Seller), any duty of confidentiality with respect
to, or a duty to the Buyer not to trade on the basis of, any material, non-public information regarding the Buyer or any of its
subsidiaries.

 

     6

     

    

 

Section
13.     Further Assurances.
Each of the Buyers and the Sellers hereby agrees and provides further assurances that it will, in the future, execute and deliver
any and all further agreements, certificates, instruments and documents and do and perform or cause to be done and performed,
all acts and things as may be necessary or appropriate to carry out the intent and accomplish the purpose of this Agreement.

 

Section
14.     Governing Law.
This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without regard
to the conflicts of laws principles thereof. The parties hereto hereby irrevocably agree that any suit or proceeding arising directly
and/or indirectly pursuant to or under this Agreement, shall be brought solely in a federal or state court located in the City,
County and State of New York. By its execution hereof, the parties hereby covenant and irrevocably submit to the in personam jurisdiction
of the federal and state courts located in the City, County and State of New York and agree that any process in any such action
may be served upon any of them personally, or by certified mail or registered mail upon them or their agent, return receipt requested,
with the same full force and effect as if personally served upon them in New York City. The parties hereto waive any claim that
any such jurisdiction is not a convenient forum for any such suit or proceeding and any defense or lack of in personam jurisdiction
with respect thereto. Nothing contained in this Section 14 is intended to limit the applicability of Section 15.

 

Section
15.      Dispute Resolution.

 

(a)       All
disputes or claims arising under or in any way relating to this Agreement shall be settled by arbitration before a panel of three
arbitrators (with one designated by the Buyers and one designated by the Sellers, and the third arbitrator designated by the first
two) pursuant to the rules of the American Arbitration Association. Any arbitrator designated by a Buyer or a Seller must be an
“Independent Person.” For the purposes of this Section 15, an “Independent Person” shall
be an individual who is not and has not been (i) a director, officer, employee, agent or shareholder of any party hereto, (ii)
a consultant to any party hereto, (iii) a person with a direct or indirect financial interest in any contract with any party hereto,
(iv) a director, officer or key employee of a company at a time when such company was party to a contract with any party hereto,
or (v) a relative of any person referred to in clauses (i), (ii), (iii) or (iv) above. As used in the immediately preceding sentence,
the term “any party hereto” shall be deemed to include any affiliates of the parties hereto. Any such arbitration
shall take place in New York City. Arbitration may be commenced at any time by any party hereto giving written notice to the other
parties hereto that such dispute has been referred to arbitration under this Section 15. The third arbitrator shall be selected
as prescribed above, but if the first two arbitrators do not so agree within 30 days after the date of the notice referred to
above, the selection shall be made pursuant to the rules of the American Arbitration Association from the Commercial Arbitration
Panel maintained by such Association. Any award rendered by the arbitrators shall be conclusive and binding upon the parties hereto;
provided, however, that any such award shall be accompanied by a written opinion of the arbitrators giving the reasons
for the award. In making such award, the arbitrators shall be authorized to award interest on any amount awarded. This provision
for arbitration shall be specifically enforceable by each of the Sellers and Buyers and the decision of the arbitrators in accordance
herewith shall be final and binding and there shall be no right of appeal therefrom. Each of the Sellers and the Buyers shall
pay its own expenses of arbitration and the expenses of the arbitrators shall be equally shared; provided, however,
that if in the opinion of the arbitrators any claim or any defense or objection thereto was frivolous or in bad faith, the arbitrators
may assess, as part of the award, all or any part of the arbitration expenses of the opposing party (including reasonable attorneys’
fees) and of the arbitrators against the party raising such unreasonable claim, defense or objection.

 

     7

     

    

 

(b)       The
parties hereto acknowledge that a breach of this Section 15 would result in irreparable injury to the non-breaching party, and
the non-breaching party will be entitled to seek equitable relief, including specific performance, to enforce the provisions of
this Section 15.

 

[Remainder
of page intentionally left blank]

 

     8

     

    

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first above-written.

 

	 	BUYER:
	 	 
	 	Spherix Inc.
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

  

     9

     

    

 

	 	SELLER:
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

     10

     

    

 

ANNEX
I

 

50,000
shares of common stock, $0.0001 par value per share, of CBM Biopharma, Inc.

 

$300,000
principal of DatChat Senior Convertible Note currently in default and subject to forbearance agreements executed January 31, 2019
and April 5, 2019

 

2,250,000
quantity of DatChat Warrant to Purchase Common Stock at an initial exercise price of $0.20

 

Option
to consummate an “Additional Closing” pursuant to the January 25, 2018 Securities Purchase Agreement and acquire an
additional $300,000 principal of DatChat Senior Convertible Notes and 1,500,000 quantity of DatChat Warrant to Purchase Common
Stock.

 

Contingent
option to purchase 500,000 shares of DatChat common stock from [an existing DatChat stockholder] pursuant to
the Option Agreement.

 

Contingent
option to put 200,000 shares of DatChat common stock to the company pursuant to the January 25, 2018 Securities Purchase Agreement,
as amended on January 31, 2019 and April 5, 2019

 

Each
of the positions described herein is subject to any restrictions contained in the applicable transaction documents or in any restrictive
legends on the applicable certificate, if any.

 

Aggregate
Purchase Price: $350,000

 

Seller
Wire Instructions:

 

     11FIRST
AMENDMENT TO SENIOR SECURED CONVERTIBLE DEBENTURES

 

This
First Amendment to Senior Secured Convertible DEBENTURES (this “Amendment”)
is dated as of June _, 2017, and is by and among DISCOVERY ENERGY CORP., a Nevada corporation (the “Company”),
DEC FUNDING LLC, a Texas limited liability company (“Original Purchaser”) and any other “Purchaser”
(defined below) now or hereafter party hereto. The Company, Original Purchaser and each other Purchaser party hereto are hereinafter
sometimes collectively referred to as the “Parties” and each individually as a “Party”.

 

WHEREAS,
the Company, Original Purchaser and the other purchasers party thereto from time to time (together with Original Purchaser, the
“Purchasers”) previously entered into that certain Securities Purchase Agreement dated May 27, 2016, as amended
by the First Amendment to Securities Purchase Agreement dated August 16, 2016 and the Second Amendment to Securities Purchase
Agreement dated February 15, 2017 (as further amended or otherwise modified from time to time, the “SPA”);

 

WHEREAS,
pursuant to the SPA, the Company has issued to the Purchasers certain Senior Secured Convertible Debentures that are described
on Schedule I hereto (collectively, the “Debentures” and each a “Debenture”); and

 

WHEREAS,
the Company and the Purchasers party hereto desire to amend the Debentures as set forth herein.

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Amendment, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser party hereto agree as follows:

 

Section
1  Definitions. Capitalized terms used in this Amendment but not otherwise defined herein have the meanings given
such terms in the Debentures.

 

Section
2  Amendments. The Company and the Majority Holders hereby agree to amend the Debentures as follows:

 

(a)
Section 1 of the Debentures is hereby amended by inserting the following as a new definition in the appropriate alphabetical
order:

 

“Exempt
Capital Raise” means (a) one or more Capital Raises constituting issuances of Common Stock (i) following September 30,
2017 and prior to the Additional Option Termination Date, up to an aggregate issuance price of the difference between $10,000,000
and the amount of Debentures purchased by Original Purchaser (or its designee or assignee) pursuant to an exercise, if any, of
the 2017 Option and (ii) following the Additional Option Termination Date (or upon the earlier termination of Original Purchaser’s
rights to purchase Debentures pursuant to the Additional Option), to the extent that such issuances are approved by a majority
of the disinterested directors of Company, (b) one or more Capital Raises constituting issuances of Common Stock of up to an aggregate
issuance price of $2,000,000 (i) at an issuance price equal to not less than the Conversion Price until such time as Company has
raised $20,000,000 in Capital Raises other than Exempt Issuances and (ii) thereafter, at an issuance price equal to not less than
$0.20 per share of Common Stock or (c) any Exempt Issuance covered by clauses (b) or (c) of the definition thereof.

 

    	 	 	 

    	 

    

 

(b)
Section 7(h) of the Debentures is hereby amended and restated in its entirety to read as follows:

 

“h)
issue any additional Common Stock or securities of Company or any of its Subsidiaries other than (i) pursuant to an Exempt Capital
Raise; (ii) up to 1,400,000 shares of Common Stock constituting “restricted shares” under applicable United States
federal securities laws to employees and other service providers of Company as compensation for services provided to Company provided
that the issue price for such Common Stock exceeds the then effective Conversion Price; (iii) up to 1,150,895 shares of Common
Stock to Liberty in partial payment of the Liberty Debt pursuant to the terms of the Liberty Loan Documents; (iv) the issuance
of securities in connection with awards made pursuant to and in accordance with the Discovery Energy Corp. 2012 Equity Incentive
Plan, which authorizes the issuance of up to an aggregate of 6 million “Shares” as defined in such plan from time
to time (subject to adjustment in the event of stock splits and similar capital events), it being understood that an amendment
to increase the number of Shares issuable under such plan shall have no effect on the number of shares of Common Stock or other
securities issuable under this clause (h); or (v) pursuant to or as expressly contemplated by the Purchase Agreement or any amendment
thereto.”

 

Section
3  Miscellaneous.

 

(a)
From and after the date of the effectiveness of this Amendment, each reference in the Debentures to “this Debenture”,
“herein”, “hereof”, “hereunder” or other words of like import shall mean and be a reference
to such Debenture, as amended hereby. Each Debenture hereafter issued shall contain the amended provisions contained herein rather
than those related provisions contained in any previously approved form of the Debenture.

 

(b)
This Amendment, the SPA and the Debentures (as amended hereby), together with the exhibits and schedules thereto, contain the
entire understanding of the Parties with respect to the subject matter hereof and thereof and supersede all prior agreements and
understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents,
exhibits and schedules.

 

(c)
Section 9(D) (Governing Law) of the debentures is hereby incorporated
into this Amendment, mutatis mutandis, as a part hereof for all purposes.

 

(d)
In accordance with Section 9(j) of each Debenture, this Amendment shall become effective when it is executed by the Company
and the Majority Holders, and (in such event) the presence of any unsigned signature blocks below shall have no effect on such
effectiveness.

 

[Signature
Page Follows]

 

    	 	2	 

    	 

    

 

	COMPANY:
    	 
	 	 
	DISCOVERY
    ENERGY CORP.	 
	 	 
	By:	/s/
                                         Keith D. Spickelmier

        
	 
	 	Keith
                                         D. Spickelmier, Chairman

        
	 

 

	ORIGINAL
    PURCHASER:	 
	 	 
	DEC
    FUNDING LLC	 
	 	 
	By:	/s/
                                         Steven Webster

        
	 
	 	Steven
                                         Webster, Manager

        
	 

 

Signature
Page to First Amendment to Senior Secured Convertible Notes

 

    	 	 	 

    	 

    

 

	PURCHASER:	
	 	 
	TEXICAN
    ENERGY CORPORATION	 
			 
	By:		 
	 	A.
    Alan Griffin, Chief Financial Officer	 

 

Signature
Page to First Amendment to Senior Secured Convertible Notes

 

    	 	 	 

    	 

    

 

Schedule
I 

 

List
of Debentures

 

	Holder
    of Debenture	 	Date
    of Debenture	 	 	Original
    Principal Amount	 
	DEC Funding LLC	 	 	May
                                         27, 2016	 	 	$	3,500,000	 
	TEXICAN Energy Corporation	 	 	August
                                         16, 2016	 	 	$	250,000	 
	DEC Funding LLC	 	 	August
                                         16, 2016	 	 	$	200,000	 
	TEXICAN Energy Corporation	 	 	December
                                         30, 2016	 	 	$	287,500	 
	DEC Funding LLC	 	 	February
                                         15, 2017	 	 	$	1,000,000	 
	TEXICAN Energy Corporation	 	 	March
                                         31, 2017	 	 	$	200,000	 

 

Schedule
I to First Amendment to Senior Secured Convertible Debentures

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