Document:

Exhibit 10.45

 

 

Note
Purchase Agreement

 

By
AND Among

 

ELECTROMEDICAL TECHNOLOGIES, INC.

 

AND

 

JR-HD Enterprises
III, LLC

 

Dated
AS OF September 3, 2020

 

 

     

     

    

 

TABLE OF CONTENTS

 

	ARTICLE I.	DEFINITIONS	1
	Section 1.01	Definitions	1
	Section 1.02	Interpretive
    provisions 	3
	ARTICLE II.	PURCHASE AND SALE	3
	Section 2.01	Purchase
    and Sale	3
	Section 2.02	Deliverables
    at Closing	3
	Section 2.03	Closing	3
	Section 2.04	Use
    of Proceeds	3
	ARTICLE III.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	4
	Section 3.01	Authorization
    of transactions	4
	Section 3.02	Governmental
    Approvals; Non-contravention	4
	Section 3.03	Brokers	4
	ARTICLE IV.	REPRESENTATIONS AND WARRANTIES OF BUYER	4
	Section 4.01	Authorization
    of Transactions	4
	Section 4.02	Governmental
    Approvals; Non-contravention	5
	Section 4.03	Investment
    Representations	5
	Section 4.04	Brokers	6
	ARTICLE V.	INDEMNIFICATION	6
	Section 5.01	General
    Indemnification	6
	Section 5.02	Procedures
    for Indemnification	6
	Section 5.03	Payment	6
	Section 5.04	Effect
    of Knowledge on Indemnification	7
	ARTICLE VI.	MISCELLANEOUS	7
	Section 6.01	Notices	7
	Section 6.02	Attorneys’
    Fees	8
	Section 6.03	Amendments;
    No Waivers; No Third-party Beneficiaries	8
	Section 6.04	Expenses	8
	Section 6.05	Further
    Assurances	8

 

     

     

    

 

	Section 6.06	Successors
    And Assigns; Benefit	8
	Section 6.07	Governing
    Law; Etc.	9
	Section 6.08	Survival	10
	Section 6.09	Resolution
    Of Disputes	10
	Section 6.10	Severability	10
	Section 6.11	Entire
    Agreement	10
	Section 6.12	Specific
    Performance	11
	Section 6.13	Construction	11
	Section 6.14	CounterparTS	11

 

    i 

     

    

 

NOTE PURCHASE AGREEMENT

 

This Note Purchase Agreement
(together with all exhibits hereto, this “Agreement”) is entered into as of September 3, 2020 (the “Closing Date”),
by and among Electromedical Technologies, Inc., a Delaware corporation (the “Company”) and JR-HD Enterprises III, LLC,
a Delaware limited liability company (“Buyer”). The Company and the Buyer may be collectively referred to herein as the “Parties”
and individually as a “Party”.

 

WHEREAS, the Company desires
to issue and sell to the Buyer a convertible promissory note in the aggregate principal amount of $107,500 and in the form as attached
hereto as Exhibit A (the “Note”) on the terms set forth herein and the Buyer wishes to purchase the Note on the terms
and conditions provided for herein;

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

Article I.          DEFINITIONS

 

Section 1.01
Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms, as used herein, have the following
meanings:

 

		(a)	“Affiliate” means, with respect to a specified Person, any other Person that directly or indirectly
Controls, is Controlled by or is under common Control with, the specified Person.

 

		(b)	“Business Day” means any day except Saturday, Sunday and any legal holiday or a day on which
banking institutions in Delaware generally are authorized or required by Law or other governmental actions to close.

 

		(c)	“Contract” means any contract, commitment, understanding or agreement (whether oral or written).

 

		(d)	“Common Stock” mean shares of common stock, par value $0.00001 per share, of the Company.

 

		(e)	“Control” means (a) the possession, directly or indirectly, of the power to vote 10%
or more of the securities or other equity interests of a Person having ordinary voting power, (b) the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of a Person, by contractor otherwise, or (c) being a
director, officer, executor, trustee or fiduciary (or their equivalents) of a Person or a Person that controls such Person.

 

		(f)	“Governmental Entity” means any federal, state, municipal, local or foreign government and
any court, tribunal, arbitral body, administrative agency, department, subdivision, entity, commission or other governmental, government
appointed, quasi-governmental or regulatory authority, reporting entity or agency, domestic, foreign or supranational.

 

    	 	1	 

     

    

 

		(g)	“Law” means any applicable foreign, federal, state or local law (including common law), statute,
treaty, rule, directive, regulation, ordinances and similar provisions having the force or effect of
law or an Order of any Governmental Entity.

 

		(h)	“Liabilities” means liabilities, obligations or responsibilities of any nature whatsoever,
whether direct or indirect, matured or un-matured, fixed or unfixed, known or unknown, asserted or un asserted, choate or inchoate, liquidated
or unliquidated, secured or unsecured, absolute, contingent or otherwise, including any direct or indirect indebtedness, guaranty, endorsement,
claim, loss, damage, deficiency, cost or expense.

 

		(i)	“Lien” means, with respect to any property or asset, any lien, security interest, mortgage,
pledge, charge, claim, lease, agreement, right of first refusal, option, limitation on transfer or use or assignment or licensing, restrictive
easement, charge or any other restriction of any kind, and any conditional sale or voting agreement or proxy, and including any restriction
on the ownership, use, voting, transfer, possession, receipt of income or other exercise of any attributes of ownership, in respect of
such property or asset, and any agreement to give any of the foregoing.

 

		(j)	“Losses” means any losses, damages, deficiencies, Liabilities, assessments, fines, penalties,
judgments, actions, claims, costs, disbursements, fees, expenses or settlements of any kind or nature, including legal, accounting and
other professional fees and expenses.

 

		(k)	“Order” means any judgment, writ, decree, determination, award, compliance agreement, settlement
agreement, injunction, ruling, charge, judicial or administrative order, determination or other restriction of any Governmental Entity
or arbitrator.

 

		(l)	“Person” means a natural person, a corporation, a limited liability company, a partnership,
an association, a trust or any other entity or organization, including a government or political subdivision or any agency or instrumentality
thereof.

 

		(m)	“Securities Act” means the United States Securities Act of 1933, as amended, and the rules and
regulation promulgated thereunder.

 

		(n)	“Transactions” means the purchase and sale of the Note and the other transactions contemplated
under the Transaction Documents.

 

		(o)	“Transaction Documents” means this Agreement, the Note and any other agreement, document,
certificate or writing delivered or to be delivered in connection with this Agreement and any other document related to the Transactions
related to the forgoing, including, without limitations, those delivered at the Closing.

 

    	 	2	 

     

    

 

Section 1.02
Interpretive Provisions. Unless the express context otherwise requires, the words “hereof,” “herein,” and
 “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to
any particular provision of this Agreement; terms defined in the singular shall have a comparable meaning when used in the plural, and
vice versa; the terms “Dollars” and “$” mean United States Dollars, unless otherwise specified herein; references
herein to a specific Section, Subsection, Recital or Exhibit shall refer, respectively, to Sections, Subsections, Recitals or Exhibits
of this Agreement; wherever the word “include,” “includes,” or “including” is used in this Agreement,
it shall be deemed to be followed by the words “without limitation”; references herein to any gender shall include each other
gender; references herein to any Person shall include such Person’s heirs, executors, personal representatives, administrators,
successors and assigns; provided, however, that nothing contained in this Section 1.02 is intended to authorize any assignment or
transfer not otherwise permitted by this Agreement; references herein to a Person in a particular capacity or capacities shall exclude
such Person in any other capacity; references herein to any contract or agreement (including this Agreement) mean such contract or agreement
as amended, supplemented or modified from time to time in accordance with the terms thereof; with respect to the determination of any
period of time, the word “from” means “from and including” and the words “to” and “until”
each means “to but excluding”; references herein to any Law or any license mean such Law or license as amended, modified,
codified, reenacted, supplemented or superseded in whole or in part, and in effect from time to time; and references herein to any Law
shall be deemed also to refer to all rules and regulations promulgated thereunder.

 

Article II.          PURCHASE
AND SALE

 

Section 2.01
Purchase and Sale. Subject to the terms and conditions of this Agreement, at the Closing (as defined below), the Company shall
issue and sell to Buyer a Note in the aggregate principal amount of $107,500, for a purchase price of $100,000 (the “Purchase Price”),
reflecting a $7,500 original issue discount.

 

Section 2.02
Deliverables at Closing. At the Closing (as defined below), Buyer shall deliver the Purchase Price to the Company via a check payable
to the Company or wire transfer pursuant to the wire transfer instructions as provided by the Company to Buyer, and the Company shall
issue to Buyer the Note.

 

Section 2.03
Closing. On the terms set forth herein, the closing of the Transactions (the “Closing”) shall take place by conference
call and electronic communication (i.e., emails/pdf) or facsimile, with exchange of original signatures to follow by mail, on the date
hereof and effective as of 11:59 p.m. Eastern time, on such date.

 

Section 2.04
Use of Proceeds. The Company covenants and agrees that it shall utilize the Purchase Price to pay for auditing fees and other necessary
costs to get the Company’s filings with the Securities and Exchange Commission up to date and compliant, and to pay for legal, organizational
and marketing costs for a planned offering pursuant to Regulation A under the Securities Act.

 

    	 	3	 

     

    

 

Article III.          REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The Company represents and
warrants to Buyer that the following representations and warranties contained in this Article III are true and correct as of the
Closing Date:

 

Section 3.01
Authorization of Transactions. The Company is a corporation duly authorized and in good standing in the State of Delaware and has
the requisite power and capacity to execute and deliver the Transaction Documents to which it is a party and to perform its obligations
hereunder and thereunder. The execution, delivery and performance by the Company of the applicable Transaction Documents and the consummation
of the Transactions have been duly and validly authorized by all requisite action on the part of the Company. The Transaction Documents
to which the Company is a party have been duly and validly executed and delivered by The Company. Each Transaction Document to which the
Company is a party constitutes the valid and legally binding obligation of the Company, enforceable against the Company in accordance
with its terms and conditions, except to the extent enforcement thereof may be limited by applicable bankruptcy, insolvency or other Laws
affecting the enforcement of creditors’ rights or by the principles governing the availability of equitable remedies.

 

Section 3.02 Governmental
Approvals; Non-contravention.

 

		(a)	No consent, Order, action or non-action of, or filing, notification, declaration or registration with,
any Governmental Entity or Person is necessary for the execution, delivery or performance by the Company of this Agreement or any other
Transaction Document to which the Company is a party.

 

		(b)	The execution, delivery and performance by the Company of the Transaction Documents to which the Company
is a party, and the consummation by the Company of the Transactions, do not (i) violate or conflict with any Law or Order to which
the Company or the Note may be subject, (ii) constitute a violation or breach of, be in conflict with, constitute or create (with
or without due notice or lapse of time or both) a default (or give rise to any right of termination, modification, cancellation or acceleration)
of any obligation under any Contract to which the Company is a party or to which the Company or the Note are subject or by which the Company’s
properties, assets or rights are bound or (iii) result in the creation or imposition of any Lien upon any of the rights, properties
or assets of the Company or on the Note.

 

Section 3.03
Brokers. The Company has not engaged, or caused to be incurred any Liability or obligation to, any investment banker, finder, broker
or sales agent or any other Person in connection with the origin, negotiation, execution, delivery or performance of the Transaction Documents
to which it is a party, or the Transactions.

 

Article IV.          REPRESENTATIONS
AND WARRANTIES OF BUYER

 

Buyer represents and warrants
to the Company that the following statements contained in this Article IV are true and correct as of the Closing Date:

 

Section 4.01
Authorization of Transactions. Buyer is a limited liability company, duly qualified under the laws of the State of Delaware, and
has the requisite power and capacity to execute and deliver the Transaction Documents to which it is a party and to perform its obligations
hereunder and thereunder. The execution, delivery and performance by Buyer of the applicable Transaction Documents and the consummation
of the Transactions have been duly and validly authorized by all requisite action on the part of Buyer. The Transaction Documents to which
Buyer is a party have been duly and validly executed and delivered by Buyer. Each Transaction Document to which Buyer is a party constitutes
the valid and legally binding obligation of Buyer, enforceable against Buyer in accordance with its terms and conditions, except to the
extent enforcement thereof may be limited by applicable bankruptcy, insolvency or other Laws affecting the enforcement of creditors’
rights or by the principles governing the availability of equitable remedies.

 

    	 	4	 

     

    

 

Section 4.02 Governmental
Approvals; Non-contravention.

 

		(a)	No consent, Order, action or non-action of, or filing, notification, declaration or registration with,
any Governmental Entity is necessary for the execution, delivery or performance by Buyer of this Agreement or any other Transaction Document
to which Buyer is a party.

 

		(b)	The execution, delivery and performance by Buyer of the Transaction Documents to which Buyer is a party,
and the consummation by Buyer of the Transactions, do not violate any Laws or Orders to which Buyer is subject or violate, breach or conflict
with any provision of Buyer’s organizational documents.

 

Section 4.03 Investment Representations.

 

		(a)	Buyer understands and agrees that the consummation of this Agreement including the delivery of the Note
as contemplated hereby and the shares of Common Stock that may be issued to Buyer pursuant to the Note (the “Shares” and,
together with the Note, collectively, the “Securities”) constitute the offer and sale of securities under the Securities Act
and applicable state statutes and that the Securities are being acquired for Buyer’s own account and not with a present view towards
the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the Securities Act.

 

		(b)	Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D under the Securities Act.

 

		(c)	Buyer understands that the Securities are being offered and sold to Buyer in reliance upon specific exemptions
from the registration requirements of United States federal and state securities Laws and that the Company is relying upon the truth and
accuracy of, and Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of Buyer
set forth herein in order to determine the availability of such exemptions and the eligibility of Buyer to acquire the Securities.

 

		(d)	At no time was Buyer presented with or solicited by any leaflet, newspaper or magazine article, radio
or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting otherwise
than in connection and concurrently with such communicated offer. Buyer is not purchasing the Note acquired by Buyer hereunder as a result
of any “general solicitation” or “general advertising,” as such terms are defined in Regulation D under the Securities
Act, which includes, but is not limited to, any advertisement, article, notice or other communication regarding the Note acquired by Buyer
hereunder published in any newspaper, magazine or similar media or on the internet or broadcast over television, radio or the internet
or presented at any seminar or any other general solicitation or general advertisement.

 

		(e)	Buyer is acquiring the Securities for its own account as principal, not as a nominee or agent, for investment
purposes only, and not with a view to, or for, resale, distribution or fractionalization thereof in whole or in part and no other person
has a direct or indirect beneficial interest in the Securities. Further, Buyer does not have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities.

 

    	 	5	 

     

    

 

		(f)	Buyer, either alone or together with its representatives, has such knowledge, sophistication and experience
in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities,
and has so evaluated the merits and risks of such investment.

 

		(g)	Buyer understands that no United States federal or state agency or any other governmental or state agency
has passed on or made recommendations or endorsement of the Securities or the suitability of the investment in the Securities nor have
such authorities passed upon or endorsed the merits of the transactions set forth herein.

 

Section 4.04
Brokers. Buyer has not engaged any investment banker, finder, broker or sales agent or any other Person in connection with the
origin, negotiation, execution, delivery or performance of any Transaction Document to which it is a party, or the Transactions.

 

Article V.          INDEMNIFICATION

 

Section 5.01
General Indemnification. Each Party (the “Indemnifying Party”) agrees to indemnify, defend and hold harmless the other
Party and such other Party’s Affiliates and each of their respective directors, officers, managers, partners, employees, agents,
equity holders, successors and assigns (each, an “Indemnified Party”), from and against any and all Losses incurred or suffered
by any Indemnified Party arising out of, based upon or resulting from any breach of any representation or warranty of the Indemnifying
Party herein or breach by the Indemnifying Party of, or any failure the Indemnifying Party to perform, any of the covenants, agreements
or obligations contained in or made pursuant to this Agreement or the Transaction Documents by the Indemnifying Party.

 

Section 5.02
Procedures for Indemnification. In the event that an Indemnified Party shall incur or suffer any Losses in respect of which indemnification
may be sought under this Article V against the Indemnifying Party, the Indemnified Party shall assert a claim for indemnification
by providing a written notice (the “Notice of Loss”) to the Indemnifying Party stating the nature and basis of such indemnification.
The Notice of Loss shall be provided to the Indemnifying Party as soon as practicable after the Indemnified Party becomes aware that it
has incurred or suffered a Loss.

 

Section 5.03
Payment. Upon a determination of liability under this Article V the Indemnifying Party shall pay or cause to be paid to the
Indemnified Party the amount so determined within five (5) Business Days after the date of such determination. If there should be
a dispute as to the amount or manner of determination of any indemnity obligation owed under this Agreement, the Indemnifying Party shall
nevertheless pay when due such portion, if any, of the obligation that is not subject to dispute. Upon the payment in full of any amounts
due under this Article V with respect to any claim, the Indemnifying Party shall be subrogated to the rights of the Indemnified Party
against any Person with respect to the subject matter of such claim.

 

    	 	6	 

     

    

 

Section 5.04
Effect of Knowledge on Indemnification. The right to indemnification, reimbursement or other remedy based upon any representations,
warranties, covenants and obligations set forth in this Agreement shall not be affected by any investigation conducted with respect to,
or any knowledge acquired (or capable of being acquired) at any time, whether before or after the execution and delivery of this Agreement,
with respect to the accuracy or inaccuracy of or compliance with any such representation, warranty, covenant or obligation. The waiver
of any condition based upon the accuracy of any representation or warranty, or on the performance of or compliance with any covenant or
obligation, shall not affect the right to indemnification, reimbursement or other remedy based upon such representations, warranties,
covenants or obligations.

 

Article VI.          MISCELLANEOUS

 

Section 6.01
Notices.

 

		(a)	Any notice or other communications required or permitted hereunder shall be in writing and shall be sufficiently
given if personally delivered to it or sent by email, overnight courier or registered mail or certified mail, postage prepaid, addressed
as follows:

 

if to the Company,
to:

 

Electromedical
Technologies, Inc.

Attn: Matthew
Wolfson

16561 N. 92nd
Street, Suite 101

Scottsdale,
AZ 85260

Email: ceo@electromedtech.com

 

If to the Buyer,
to:

 

JR-HD Enterprises
III, LLC

Attn: Jeff Ramson

150 East 58th
Street, 20th Floor

New York, NY
10155

Email: Jramson@pcgadvisory.com

 

With a copy,
which shall not constitute notice, to:

 

Anthony L.G.,
PLLC

Attn: John Cacomanolis

625 N. Flagler
Drive, Suite 600

West Palm Beach,
FL 33401

Email: jcacomanolis@anthonypllc.com

 

		(b)	Any Party may change its address for notices hereunder upon notice to each other Party in the manner for
giving notices hereunder.

 

		(c)	Any notice hereunder shall be deemed to have been given (i) upon receipt, if personally delivered,
(ii) on the day after dispatch, if sent by overnight courier, (iii) upon dispatch, if transmitted by email with return receipt
requested and received and (iv) three (3) days after mailing, if sent by registered or certified mail.

 

    	 	7	 

     

    

 

Section 6.02
Attorneys’ Fees. In the event that any Party institutes any action or suit to enforce this Agreement or to secure relief
from any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including reasonable
attorney’s fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

 

Section 6.03 Amendments; No
Waivers; No Third-Party Beneficiaries.

 

		(a)	This Agreement may be amended, modified, superseded, terminated or cancelled, and any

 

of the terms,
covenants, representations, warranties or conditions hereof may be waived, only by a written instrument executed by both of the Parties.

 

		(b)	Every right and remedy provided herein shall be cumulative with every other right and remedy, whether
conferred herein, at law, or in equity, and may be enforced concurrently herewith, and no waiver by any Party of the performance of any
obligation by another Party shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring
or existing.

 

		(c)	Neither any failure or delay in exercising any right or remedy hereunder or in requiring satisfaction
of any condition herein nor any course of dealing shall constitute a waiver of or prevent any Party from enforcing any right or remedy
or from requiring satisfaction of any condition. No notice to or demand on a Party waives or otherwise affects any obligation of that
Party or impairs any right of the Party giving such notice or making such demand, including any right to take any action without notice
or demand not otherwise required by this Agreement. No exercise of any right or remedy with respect to a breach of this Agreement shall
preclude exercise of any other right or remedy, as appropriate to make the aggrieved Party whole with respect to such breach, or subsequent
exercise of any right or remedy with respect to any other breach.

 

		(d)	Notwithstanding anything else contained herein, no Party shall seek, nor shall any Party be liable for,
consequential, punitive or exemplary damages, under any tort, contract, equity, or other legal theory, with respect to any breach (or
alleged breach) of this Agreement or any provision hereof or any matter otherwise relating hereto or arising in connection herewith.

 

Section 6.04
Expenses. Unless otherwise contemplated or stipulated by a Transaction Document, all costs and expenses incurred in connection
with this Agreement shall be paid by the Party incurring such cost or expense.

 

Section 6.05
Further Assurances. Following the Closing, each Party shall execute and deliver such documents and other papers and take such further
action as may be reasonably required to carry out the provisions of the Transaction Documents.

 

Section 6.06
Successors and Assigns; Benefit. The provisions of this Agreement shall be binding upon and inure to the benefit of the Parties
and their respective successors and assigns. No Party may assign, delegate or otherwise transfer any of its rights or obligations under
this Agreement without the written consent of the other Party. Other than as specifically set forth herein, including in Article V,
nothing in this Agreement shall confer on any Person other than the Parties, and their respective successors and assigns, any rights,
remedies, obligations, or Liabilities under or by reason of this Agreement.

 

    	 	8	 

     

    

 

Section 6.07 Governing Law;
Etc.

 

		(a)	This Agreement, and all matters based upon, arising out of or relating in any way to the
                                                                 Transactions or the Transaction Documents, including all disputes, claims or causes of action arising out of or relating to the
                                                                 Transactions or the Transaction Documents as well as the interpretation, construction, performance and enforcement of the
                                                                 Transaction Documents, shall be governed by
the laws of the United States and the State of Delaware, without regard to any jurisdiction’s conflict-of-laws principles.

 

		(b)	SUBJECT TO Section 6.09, ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT,
THE OTHER TRANSACTION DOCUMENTS OR THE CONTEMPLATED TRANSACTIONS SHALL BE INSTITUTED SOLELY IN THE FEDERAL COURTS OF THE UNITED STATES
OF AMERICA OR THE COURTS OF THE STATE OF NEW YORK, IN EACH CASE LOCATED IN NEW YORK CITY, NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS
TO THE PERSONAL JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE
ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD
OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

		(c)	EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
                                                                 MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
                                                                 TRANSACTIONS, THE PERFORMANCE THEREOF OR THE FINANCINGS CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
                                                                 EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 6.07(c).

 

		(d)	Each of the Parties acknowledge that each has been represented in connection with the signing of this
waiver by independent legal counsel selected by the respective Party and that such Party has discussed the legal consequences and import
of this waiver with legal counsel. Each of the Parties further acknowledge that each has read and understands the meaning of this waiver
and grants this waiver knowingly, voluntarily, without duress and only after consideration of the consequences of this waiver with legal
counsel.

 

    	 	9	 

     

    

 

Section 6.08
Survival. The representations and warranties in this Agreement shall survive the Closing for a period of 12 months from the Closing
Date, and no claim for indemnification may be made after such time. All covenants and agreements in this Agreement will survive until
fully performed; provided, however, that, nothing herein shall prevent a Party from making any claim hereunder, or relieve any other Party
from any liability hereunder, after such time for any breach thereof.

 

Section 6.09
Resolution of Disputes. Except as otherwise provided herein, all controversies, disputes or actions between the Parties arising
out of the Transactions or this Agreement, including their respective Affiliates, owners, officers, directors, agents and employees, arising
from or relating to this Agreement shall on demand of either party be submitted for arbitration to in accordance with the rules and
regulations of the American Arbitration Association. The arbitration shall be conducted by one arbitrator jointly selected by each Party
who is a party to the Dispute, provided, however, that if such Parties are unable to agree on the identity of the arbitrator within 10
Business Days of commencement of efforts to do so, each Party who is a party to the Dispute shall select one arbitrator and the arbitrators
so selected shall select a final arbitrator, and the final arbitrator shall conduct the arbitration alone. The Parties agree that, in
connection with any such arbitration proceeding, each shall submit or file any claim which would constitute a compulsory counterclaim
(as defined by Rule 13 of the Federal Rules of Civil Procedures) within the same proceeding as the claim to which it relates.
Any such claim which is not submitted or filed in such proceeding shall be barred. The arbitrator shall be instructed to use every reasonable
effort to perform its services within seven days of request, and, in any case, as soon as practicable. The Parties agree to be bound by
the provisions of any limitation on the period of time by which claims must be brought under Delaware law or any applicable federal law.
The arbitrator(s) shall have the right to award the relief which he or she deems proper, consistent with the terms of this Agreement,
including compensatory damages (with interest on unpaid amounts from due date), injunctive relief, specific performance, legal damages
and costs. The award and decision of the arbitrator(s) shall be conclusive and binding on all Parties, and judgment upon the award
may be entered in any court of competent jurisdiction. Any right to contest the validity or enforceability of this award shall be governed
exclusively by the United States Arbitration Act. The arbitration shall be conducted in New York City, New York. The provisions of this
Section 6.09 shall continue in full force and effect subsequent to and notwithstanding the expiration or termination of this Agreement.

 

Section 6.10
Severability. If any provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or
public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the Transactions is not affected in any manner adverse to any Party. Upon such determination that any provision
is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect
the original intent of the Parties as closely as possible in an acceptable manner to the end that the Transactions are fulfilled to the
extent possible.

 

Section 6.11
Entire Agreement. The Transaction Documents constitute the entire agreement between the Parties with respect to the subject matter
hereof and thereof and supersede all prior agreements and understandings, both oral and written, between the Parties with respect to the
subject matter hereof and thereof.

 

    	 	10	 

     

    

 

Section 6.12
Specific Performance. Each Party agrees that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that each Party shall be entitled to seek specific performance of the terms hereof in addition
to any other remedy at law or in equity.

 

Section 6.13
Construction. The table of contents and headings contained in this Agreement are for reference purposes only and will not affect
in any way the meaning or interpretation of this Agreement. In the event of a conflict between language or amounts contained in the body
of this Agreement and language or amounts contained in the Exhibits attached hereto, the language or amounts in the body of the Agreement
shall control. References to Articles or Sections shall refer to those portions of this Agreement. The use of the terms “hereunder,”
 “hereof,” “hereto” and words of similar import shall refer to this Agreement as a whole and not to any particular
Article, Section or clause of or Exhibit to this Agreement.

 

Section 6.14
Counterparts. This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each of the Parties and delivered to the other Parties, it being understood
that each Party need not sign the same counterpart. A facsimile copy or electronic transmission of a signature page shall be deemed
to be an original signature page.

 

[Signature page follows]

 

    	 	11	 

     

    

 

IN WITNESS WHEREOF, the Parties
have caused this Agreement to be duly executed as of the Closing Date.

 

	 	Electromedical Technologies, Inc.
	 	 
	 	By:	/s/ Matthew Wolfson
	 	Name:	Matthew Wolfson
	 	Title:	Chief Executive Officer
	 	 	 
	 	JR-HD Enterprises III, LLC
	 	 
	 	By:	/s/ Jeff Ramson
	 	Name:	Jeff Ramson
	 	Title:	Manager

 

    	 	12	 

     

    

 

Exhibit A

Convertible Promissory Note

 

(Attached)

 

    	 	13Exhibit 10.46

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE
OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT. NOTWITHSTANDING THE
FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
BY THE SECURITIES.

 

	Principal Amount: $78,000.00 	Issue Date: September 8, 2020

Purchase
Price: $78,000.00

 

CONVERTIBLE
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, ELECTROMEDICAL TECHNOLOGIES, INC., a Delaware corporation (hereinafter called the "Borrower"), hereby promises
to pay to the order of REDSTART HOLDINGS CORP., a New York corporation, or registered assigns (the "Holder") the sum
of $78,000.00 together with any interest as set forth herein, on September 8, 2021 (the "Maturity Date"), and to pay interest
on the unpaid principal balance hereof at the rate of ten percent (10%)(the "Interest Rate") per annum from the date hereof
(the "Issue Date") until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest
on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof
until the same is paid ("Default Interest"). Interest shall commence accruing on the date that the Note is fully paid and shall
be computed on the basis of a 365-day year and the actual number of days elapsed. All payments due hereunder (to the extent not converted
into common stock, $0.00001 par value per share (the "Common Stock") in accordance with the terms hereof) shall be made in
lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the Borrower
by written notice made in accordance with the provisions of this Note. Each capitalized term used herein, and not otherwise defined,
shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note
was originally issued (the "Purchase Agreement").

 

This Note is free from all taxes, liens, claims and encumbrances with respect
to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Borrower and will not
impose personal liability upon the holder thereof.

 

     

     

    

 

The following terms shall apply to this Note:

 

ARTICLE
I. CONVERSION RIGHTS

 

1.1
             Conversion Right. The Holder shall have the right from
time to time, and at any time during the period beginning on the date of issuance of this Note and ending on the later of: (i) the Maturity
Date and (ii) the date of payment of the Default Amount (as defined in Article III), each in respect of the remaining outstanding amount
of this Note to convert all or any part of the outstanding and unpaid amount of this Note into fully paid and non-assessable shares of
Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into
which such Common Stock shall hereafter be changed or reclassified at the conversion price determined as provided herein (a "Conversion");
provided,  however, that in no event shall the Holder be entitled to convert any portion of this Note in excess of
that portion of this Note upon conversion of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder
and its affiliates (other than shares of Common Stock which may be deemed beneficially owned through the ownership of the unconverted
portion of the Notes or the unexercised or unconverted portion of any other security of the Borrower subject to a limitation on conversion
or exercise analogous to the limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion
of the portion of this Note with respect to which the determination of this proviso is being made, would result in beneficial ownership
by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately
preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"), and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso.
The beneficial ownership limitations on conversion as set forth in the section may NOT be waived by the Holder. The number of
shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount (as defined
below) by the applicable conversion price then in effect on the date specified in the notice of conversion, in the form attached hereto
as Exhibit A (the "Notice of Conversion"), delivered to the Borrower by the Holder in accordance with Section 1.4 below; provided
that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or reasonably expected to result in,
notice) to the Borrower before 6:00 p.m., New York, New York time on such conversion date (the "Conversion Date"); however,
if the Notice of Conversion is sent after 6:00pm, New York, New York time the Conversion Date shall be the next business day. The term
 "Conversion Amount" means, with respect to any conversion of this Note, the sum of (1) the principal amount of this Note to
be converted in such conversion plus (2) at the Holder's option, accrued and unpaid interest, if any, on such principal amount
at the interest rates provided in this Note to the Conversion Date, plus (3) at the Holder's option, Default Interest, if any,
on the amounts referred to in the immediately preceding clauses (1) and/or (2) plus (4) at the Holder's option, any amounts owed
to the Holder pursuant to Sections 1.4 hereof.

 

1.2
             Conversion Price. For the period beginning on the issue
date of the Note and ending one hundred eighty (180) days thereafter (the "Initial Conversion Period"), the conversion price
shall equal the Fixed Conversion Price; and, at any time following the Initial Conversion Period, the conversion price shall equal the
Variable Conversion Price (as defined herein) (subject in each case to equitable adjustments by the Borrower relating to the Borrower's
securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary
distributions and similar events). The "Variable Conversion Price" shall mean 63% multiplied by the Market Price (as defined
herein) (representing a discount rate of 37%). "Market Price" means the lowest Trading Price (as defined below) for the Common
Stock during the fifteen (15) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. "Trading
Price" means, for any security as of any date, the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system
or applicable trading market (the "OTC") as reported by a reliable reporting service ("Reporting Service") designated
by the Holder (i.e. Bloomberg) or, if the OTC is not the principal trading market for such security, the closing bid price of such security
on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security
is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed
in the "pink sheets". If the Trading Price cannot be calculated for such security on such date in the manner provided above,
the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of
the Notes being converted for which the calculation of the Trading Price is required in order to determine the Variable Conversion Price
of such Notes. "Trading Day" shall mean any day on which the Common Stock is tradable for any period on the OTC, or on the
principal securities exchange or other securities market on which the Common Stock is then being traded. The "Fixed Conversion
Price" shall be $1.00 per share.

 

    2

     

    

 

1.3
             Authorized Shares. The Borrower covenants that during
the period the conversion right exists, the Borrower will reserve from its authorized and unissued Common Stock a sufficient number of
shares, free from preemptive rights, to provide for the issuance of Common Stock upon the full conversion of this Note issued pursuant
to the Purchase Agreement. The Borrower is required at all times to have authorized and reserved six times the number of shares that
would be issuable upon full conversion of the Note (assuming that the 4.99% limitation set forth in Section 1.1 is not in effect)(based
on the Variable Conversion Price of the Note (as defined in Section 1.2) from time to time, initially 928,571 shares)(the "Reserved
Amount"). The Reserved Amount shall be increased (or decreased with the written consent of the Holder) from time to time in accordance
with the Borrower's obligations hereunder. The Borrower represents that upon issuance, such shares will be duly and validly issued, fully
paid and non-assessable. In addition, if the Borrower shall issue any securities or make any change to its capital structure which would
change the number of shares of Common Stock into which the Notes shall be convertible at the then current Variable Conversion Price,
the Borrower shall at the same time make proper provision so that thereafter there shall be a sufficient number of shares of Common Stock
authorized and reserved, free from preemptive rights, for conversion of the outstanding Note. The Borrower (i) acknowledges that it has
irrevocably instructed its transfer agent to issue certificates for the Common Stock issuable upon conversion of this Note, and (ii)
agrees that its issuance of this Note shall constitute full authority to its officers and agents who are charged with the duty of executing
stock certificates to execute and issue the necessary certificates for shares of Common Stock in accordance with the terms and conditions
of this Note.

 

If, at any time the Borrower does not maintain the Reserved Amount
it will be considered an Event of Default under Section 3.2 of the Note.

 

1.4
            Method of Conversion.

 

(a)
           Mechanics of Conversion. As set forth in Section 1.1 hereof, from
time to time, and at any time during the period beginning on the date which is one hundred eighty (180) days following the date of this
Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount, this Note may be converted
by the Holder in whole or in part at any time from time to time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion
(by facsimile, e-mail or other reasonable means of communication dispatched on the Conversion Date prior to 6:00 p.m., New York, New
York time) and (B) subject to Section 1.4(b), surrendering this Note at the principal office of the Borrower (upon payment in full of
any amounts owed hereunder).

 

(b)
            Surrender of Note Upon Conversion. Notwithstanding anything
to the contrary set forth herein, upon conversion of this Note in accordance with the terms hereof, the Holder shall not be required
to physically surrender this Note to the Borrower unless the entire unpaid principal amount of this Note is so converted. The Holder
and the Borrower shall maintain records showing the principal amount so converted and the dates of such conversions or shall use such
other method, reasonably satisfactory to the Holder and the Borrower, so as not to require physical surrender of this Note upon each
such conversion.

 

    3

     

    

 

(c)
            Delivery of Common Stock Upon Conversion. Upon receipt by the
Borrower from the Holder of a facsimile transmission or e-mail (or other reasonable means of communication) of a Notice of Conversion
meeting the requirements for conversion as provided in this Section 1.4, the Borrower shall issue and deliver or cause to be issued and
delivered to or upon the order of the Holder certificates for the Common Stock issuable upon such conversion within three (3) business
days after such receipt (the "Deadline") (and, solely in the case of conversion of the entire unpaid principal amount hereof,
surrender of this Note) in accordance with the terms hereof and the Purchase Agreement. Upon receipt by the Borrower of a Notice of Conversion,
the Holder shall be deemed to be the holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount
and the amount of accrued and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults
on its obligations hereunder, all rights with respect to the portion of this Note being so converted shall forthwith terminate except
the right to receive the Common Stock or other securities, cash or other assets, as herein provided, on such conversion. If the Holder
shall have given a Notice of Conversion as provided herein, the Borrower's obligation to issue and deliver the certificates for Common
Stock shall be absolute and unconditional, irrespective of the absence of any action by the Holder to enforce the same, any waiver or
consent with respect to any provision thereof, the recovery of any judgment against any person or any action to enforce the same, any
failure or delay in the enforcement of any other obligation of the Borrower to the holder of record, or any setoff, counterclaim, recoupment,
limitation or termination, or any breach or alleged breach by the Holder of any obligation to the Borrower, and irrespective of
any other circumstance which might otherwise limit such obligation of the Borrower to the Holder in connection with such conversion.

 

(d)
            Delivery of Common Stock by Electronic Transfer. In lieu of
delivering physical certificates representing the Common Stock issuable upon conversion, provided the Borrower is participating in the
Depository Trust Company ("DTC") Fast Automated Securities Transfer ("FAST") program, upon request of the Holder
and its compliance with the provisions set forth herein, the Borrower shall use its best efforts to cause its transfer agent to electronically
transmit the Common Stock issuable upon conversion to the Holder by crediting the account of Holder's Prime Broker with DTC through its
Deposit Withdrawal Agent Commission ("DWAC") system.

 

(e)
            Failure to Deliver Common Stock Prior to Deadline. Without in
any way limiting the Holder's right to pursue other remedies, including actual damages and/or equitable relief, the parties agree that
if delivery of the Common Stock issuable upon conversion of this Note is not delivered by the Deadline due to action and/or inaction
of the Borrower, the Borrower shall pay to the Holder $2,000 per day in cash, for each day beyond the Deadline that the Borrower fails
to deliver such Common Stock (the "Fail to Deliver Fee"); provided; however, that the Fail to Deliver Fee shall not be due
if the failure is a result of a third party (i.e., transfer agent; and not the result of any failure to pay such transfer agent) despite
the best efforts of the Borrower to effect delivery of such Common Stock. Such cash amount shall be paid to Holder by the fifth day of
the month following the month in which it has accrued or, at the option of the Holder (by written notice to the Borrower by the first
day of the month following the month in which it has accrued), shall be added to the principal amount of this Note, in which event interest
shall accrue thereon in accordance with the terms of this Note and such additional principal amount shall be convertible into Common
Stock in accordance with the terms of this Note. The Borrower agrees that the right to convert is a valuable right to the Holder. The
damages resulting from a failure, attempt to frustrate, interference with such conversion right are difficult if not impossible to qualify.
Accordingly, the parties acknowledge that the liquidated damages provision contained in this Section 1.4(e) are justified.

 

    4

     

    

 

1.5
            Concerning the Shares. The shares of Common Stock issuable upon
conversion of this Note may not be sold or transferred unless: (i) such shares are sold pursuant to an effective registration statement
under the Act or (ii) the Borrower or its transfer agent shall have been furnished with an opinion of counsel (which opinion shall be
in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect that the shares to be sold or
transferred may be sold or transferred pursuant to an exemption from such registration (such as Rule 144 or a successor rule) ("Rule
144"); or (iii) such shares are transferred to an "affiliate" (as defined in Rule 144) of the Borrower who agrees to sell
or otherwise transfer the shares only in accordance with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase
Agreement).

 

Any restrictive
legend on certificates representing shares of Common Stock issuable upon conversion of this Note shall be removed and the Borrower
shall issue to the Holder a new certificate therefore free of any transfer legend if the Borrower or its transfer agent shall have
received an opinion of counsel from Holder's counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that (i) a public sale or transfer of such Common Stock may be made without registration under the Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) in the case of the Common Stock
issuable upon conversion of this Note, such security is registered for sale by the Holder under an effective registration statement
filed under the Act; or otherwise may be sold pursuant to an exemption from registration. In the event that the Company does not
reasonably accept the opinion of counsel provided by the Holder with respect to the transfer of Securities pursuant to an exemption
from registration (such as Rule 144), at the Deadline, it will be considered an Event of Default pursuant to Section 3.2 of the
Note.

 

1.6
            Effect of Certain Events.

 

(a)
            Effect of Merger, Consolidation, Etc. At the option of the Holder,
the sale, conveyance or disposition of all or substantially all of the assets of the Borrower, the effectuation by the Borrower of a
transaction or series of related transactions in which more than 50% of the voting power of the Borrower is disposed of, or the consolidation,
merger or other business combination of the Borrower with or into any other Person (as defined below) or Persons when the Borrower is
not the survivor shall be deemed to be an Event of Default (as defined in Article Ill) pursuant to which the Borrower shall be required
to pay to the Holder upon the consummation of and as a condition to such transaction an amount equal to the Default Amount (as defined
in Article Ill). "Person" shall mean any individual, corporation, limited liability company, partnership, association,
trust or other entity or organization.

 

(b)
            Adjustment Due to Merger, Consolidation, Etc. If, at any time
when this Note is issued and outstanding and prior to conversion of all of the Note, there shall be any merger, consolidation, exchange
of shares, recapitalization, reorganization, or other similar event, as a result of which shares of Common Stock of the Borrower shall
be changed into the same or a different number of shares of another class or classes of stock or securities of the Borrower or another
entity, or in case of any sale or conveyance of all or substantially all of the assets of the Borrower other than in connection with
a plan of complete liquidation of the Borrower, then the Holder of this Note shall thereafter have the right to receive upon conversion
of this Note, upon the basis and upon the terms and conditions specified herein and in lieu of the shares of Common Stock immediately
theretofore issuable upon conversion, such stock, securities or assets which the Holder would have been entitled to receive in such transaction
had this Note been converted in full immediately prior to such transaction (without regard to any limitations on conversion set
forth herein), and in any such case appropriate provisions shall be made with respect to the rights and interests of the Holder of this
Note to the end that the provisions hereof (including, without limitation, provisions for adjustment of the Variable Conversion Price
and of the number of shares issuable upon conversion of the Note) shall thereafter be applicable, as nearly as may be practicable in
relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower shall not affect any transaction
described in this Section 1.6(b) unless (a) it first gives, to the extent practicable, ten (10) days prior written notice (but in any
event at least five (5) days prior written notice) of the record date of the special meeting of shareholders to approve, or if there
is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization or other
similar event or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b) the resulting successor
or acquiring entity (if not the Borrowr) assumes by written instrument the obligations of this Note. The above provisions shall similarly
apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

    5

     

    

 

(c)
            Adjustment Due to Distribution. If the Borrower shall declare
or make any distribution of its assets (or rights to acquire its assets) to holders of Common Stock as a dividend, stock repurchase,
by way of return of capital or otherwise (including any dividend or distribution to the Borrower's shareholders in cash or shares (or
rights to acquire shares) of capital stock of a subsidiary (i.e., a spin-off)) (a "Distribution"), then the Holder of this
Note shall be entitled, upon any conversion of this Note after the date of record for determining shareholders entitled to such Distribution,
to receive the amount of such assets which would have been payable to the Holder with respect to the shares of Common Stock issuable
upon such conversion had such Holder been the holder of such shares of Common Stock on the record date for the determination of shareholders
entitled to such Distribution.

 

1.7
            Prepayment. Notwithstanding anything to the contrary contained
in this Note, at any time during the periods set forth on the table immediately following this paragraph (the "Prepayment Periods")
or as otherwise agreed to between the Borrower and the Holder, the Borrower shall have the right, exercisable on not more than three
(3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued interest), in full,
in accordance with this Section 1.7. Any notice of prepayment hereunder (an "Optional Prepayment Notice") shall be delivered
to the Holder of the Note at its registered addresses and shall state: (1) that the Borrower is exercising its right to prepay the Note,
and (2) the date of prepayment which shall be not more than three (3) Trading Days from the date of the Optional Prepayment Notice. On
the date fixed for prepayment (the "Optional Prepayment Date"), the Borrower shall make payment of the Optional Prepayment
Amount (as defined below) to Holder, or upon the direction of the Holder as specified by the Holder in a writing to the Borrower (which
shall direction to be sent to Borrower by the Holder at least one (1) business day prior to the Optional Prepayment Date). If the Borrower
exercises its right to prepay the Note, the Borrower shall make payment to the Holder of an amount in cash equal to the percentage ("Prepayment
Percentage") as set forth in the table immediately following this paragraph opposite the applicable Prepayment Period, multiplied
by the sum of: (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount
of this Note to the Optional Prepayment Date plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and (x) plus
(z) any amounts owed to the Holder pursuant to Section 1.4 hereof (the "Optional Prepayment Amount").

 

	Prepayment Period	Preparnirt Percentage
	The period beginning on the Issue Date and ending on the date which is one hundred eighty (180) days following the Issue Date.	130%

 

After the expiration of the Prepayment Periods
set forth above, the Holder may submit an Optional Prepayment Notice to the Holder. Upon receipt by the Holder of the Optional
Prepayment Notice post Prepayment Periods, the prepayment shall be subject to the Holder's and the Borrower's agreement with respect
to the applicable Prepayment Percentage.

 

Notwithstanding anything contained herein to the contrary, the Holder's conversion rights
herein shall not be affected in any way until the Note is fully paid (funds received by the Holder) pursuant to an Optional
Prepayment Notice.

 

    6

     

    

 

ARTICLE
II. CERTAIN COVENANTS

 

2.1
           Sale of Assets. So long as the Borrower shall have any obligation
under this Note, the Borrower shall not, without the Holder's written consent, sell, lease or otherwise dispose of any significant portion
of its assets outside the ordinary course of business. Any consent to the disposition of any assets may be conditioned on a specified
use of the proceeds of disposition.

 

ARTICLE
III. EVENTS OF DEFAULT

 

If any of the following events of default (each, an "Event of Default") shall occur:

 

3.1
           Failure to Pay Principal and Interest. The Borrower fails to pay the
principal hereof or interest thereon when due on this Note, whether at maturity or upon acceleration and such breach continues for a
period of five (5) days after written notice from the Holder.

 

3.2
           Conversion and the Shares. The Borrower fails to issue shares of Common
Stock to the Holder (or announces or threatens in writing that it will not honor its obligation to do so) upon exercise by the Holder
of the conversion rights of the Holder in accordance with the terms of this Note, fails to transfer or cause its transfer agent to transfer
(issue) (electronically or in certificated form) any certificate for shares of Common Stock issued to the Holder upon conversion of or
otherwise, pursuant to this Note as and when required by this Note, the Borrower directs its transfer agent not to transfer or delays,
impairs, and/or hinders its transfer agent in transferring (or issuing) (electronically or in certificated form) any certificate for
shares of Common Stock to be issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note,
or fails to remove (or directs its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing)
any restrictive legend (or to withdraw any stop transfer instructions in respect thereof) on any certificate for any shares of Common
Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written
announcement, statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure
shall continue uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing)
for three (3) business days after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to remain
current in its obligations to its transfer agent. It shall be an event of default of this Note, if a conversion of this Note is delayed,
hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the Holder advances
any funds to the Borrower's transfer agent in order to process a conversion, such advanced funds shall be paid by the Borrower to the
Holder within forty-eight (48) hours of a demand from the Holder.

 

3.3
           Breach of Covenants. The Borrower breaches any material covenant or
other material term or condition contained in this Note and any collateral documents including but not limited to the Purchase Agreement
and such breach continues for a period of twenty (20) days after written notice thereof to the Borrower from the Holder.

 

    7

     

    

 

3.4
           Breach of Representations and Warranties. Any representation or warranty
of the Borrower made herein or in any agreement, statement or certificate given in writing pursuant hereto or in connection herewith
(including, without limitation, the Purchase Agreement), shall be false or misleading in any material respect when made and the breach
of which has (or with the passage of time will have) a material adverse effect on the rights of the Holder with respect to this Note
or the Purchase Agreement.

 

3.5
           Receiver or Trustee. The Borrower or any subsidiary of the Borrower
shall make an assignment for the benefit of creditors, or apply for or consent to the appointment of a receiver or trustee for it or
for a substantial part of its property or business, or such a receiver or trustee shall otherwise be appointed.

 

3.6
           Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation
proceedings or other proceedings, voluntary or involuntary, for relief under any bankruptcy law or any law for the relief of debtors
shall be instituted by or against the Borrower or any subsidiary of the Borrower.

 

3.7
           Delisting of Common Stock. The Borrower shall fail to maintain the
listing of the Common Stock on at least one of the OTC (which specifically includes the quotation platforms maintained by the OTC Markets
Group) or an equivalent replacement exchange, the Nasdaq National Market, the Nasdaq SmallCap Market, the New York Stock Exchange, or
the American Stock Exchange.

 

3.8
           Failure to Comply with the Exchange Act. The Borrower shall fail to
comply with the reporting requirements of the Exchange Act; and/or the Borrower shall cease to be subject to the reporting requirements
of the Exchange Act.

 

3.9
           Liquidation. Any dissolution, liquidation, or winding up of Borrower
or any substantial portion of its business.

 

3.10
        Cessation of Operations. Any cessation of operations by Borrower or Borrower admits
it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower's
ability to continue as a "going concern" shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.11
        Financial Statement Restatement. The restatement of any financial
statements filed by the Borrower with the SEC at any time after 180 days after the Issuance Date for any date or period until this Note
is no longer outstanding, if the result of such restatement would, by comparison to the un-restated financial statement, have constituted
a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.12
        Replacement of Transfer Agent. In the event that the Borrower proposes
to replace its transfer agent, the Borrower fails to provide, prior to the effective date of such replacement, a fully executed Irrevocable
Transfer Agent Instructions in a form as initially delivered pursuant to the Purchase Agreement (including but not limited to the provision
to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer agent to Borrower and  the
Borrower.

 

    8

     

    

 

3.13
           Cross-Default. Notwithstanding anything to the contrary contained
in this Note or the other related or companion documents, a breach or default by the Borrower of any covenant or other term or condition
contained in any of the Other Agreements, after the passage of all applicable notice and cure or grace periods, shall, at the option
of the Holder, be considered a default under this Note and the Other Agreements, in which event the Holder shall be entitled (but in
no event required) to apply all rights and remedies of the Holder under the terms of this Note and the Other Agreements by reason of
a default under said Other Agreement or hereunder. "Other Agreements" means, collectively, all agreements and instruments between,
among or by: (1) the Borrower, and, or for the benefit of, (2) the Holder and any affiliate of the Holder, including, without limitation,
promissory notes; provided, however, the term "Other Agreements" shall not include the related or companion documents to this
Note. Each of the loan transactions will be cross-defaulted with each other loan transaction and with all other existing and future debt
of Borrower to the Holder.

 

Upon
the occurrence and during the continuation of any Event of Default specified in Section 3.1 (solely with respect to failure to pay
the principal hereof or interest thereon when due at the Maturity Date), the Note shall become immediately due and payable and the
Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Default Sum (as defined
herein). UPON THE OCCURRENCE AND DURING THE CONTINUATION OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE SHALL BECOME
IMMEDIATELY DUE AND PAYABLE AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT
EQUAL TO: (Y) THE DEFAULT SUM (AS DEFINED HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence and during the continuation of any
Event of Default specified in Sections 3.1 (solely with respect to failure to pay the principal hereof or interest thereon when due
on this Note upon a Trading Market Prepayment Event pursuant to Section 1.7 or upon acceleration), 3.3, 3.4, 3.7, 3.8, 3.10, 3.11,
3.12, 3.13, and/or 3.14 exercisable through the delivery of written notice to the Borrower by such Holders (the "Default
Notice"), and upon the occurrence of an Event of Default specified the remaining sections of Articles III (other than failure
to pay the principal hereof or interest thereon at the Maturity Date specified in Section 3,1 hereof), the Note shall become
immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount
equal to the greater of (i) 150% times the sum of (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid
interest on the unpaid principal amount of this Note to the date of payment (the "Mandatory Prepayment Date") plus (y)
Default Interest, if any, on the amounts referred to in clauses (w) and/or (x) plus (z) any amounts owed to the Holder pursuant to
Sections 1.3 and 1.4(g) hereof (the then outstanding principal amount of this Note to the date of payment plus the amounts referred
to in clauses (x), (y) and (z) shall collectively be known as the "Default Sum") or (ii) the "parity value" of
the Default Sum to be prepaid, where parity value means (a) the highest number of shares of Common Stock issuable upon conversion of
or otherwise pursuant to such Default Sum in accordance with Article I, treating the Trading Day immediately preceding the Mandatory
Prepayment Date as the "Conversion Date" for purposes of determining the lowest applicable Variable Conversion Price,
unless the Default Event arises as a result of a breach in respect of a specific Conversion Date in which case such Conversion Date
shall be the Conversion Date), multiplied by (b) the highest Closing Price for the Common Stock during the period beginning on the
date of first occurrence of the Event of Default and ending one day prior to the Mandatory Prepayment Date (the "Default
Amount") and all other amounts payable hereunder shall immediately become due and payable, all without demand, presentment or
notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and expenses,
of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

 

If
the Borrower fails to pay the Default Amount within five (5) business days of written notice that such amount is due and payable,
then the Holder shall have the right at any time, so long as the Borrower remains in default (and so long and to the extent that
there are sufficient authorized shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default
Amount, the number of shares of Common Stock of the Borrower equal to the Default Amount divided by the Variable Conversion Price
then in effect.

 

    9

     

    

 

ARTICLE
IV. MISCELLANEOUS

 

4.1
           Failure or Indulgence Not Waiver. No failure or delay on the part
of the Holder in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privileges.
All rights and remedies existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

4.2
           Notices. All notices, demands, requests, consents, approvals, and
other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally
served, (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable
air courier service with charges prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below
or to such other address as such party shall have specified most recently by written notice. Any notice or other communication required
or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation
generated by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal
business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a
business day during normal business hours where such notice is to be received) or (b) on the second business day following the date of
mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall
first occur. The addresses for such communications shall be:

 

If to the Borrower, to:

 

ELECTROMEDICAL
TECHNOLOGIES, INC.

16561 N. 92nd Street, Suite 101

Scottsdale, AZ
85260

Attn: Matthew Wolfson, Chief Executive Officer

Fax:

Email: ceo@electromedtech.com

 

If to the Holder:

 

REDSTART HOLDINGS

CORP. 1188 Willis
Avenue

Albertson, New York 11507

Attention:
Gregg B. Solomon, President

e-mail: redstartholdingscorp@gmail.com

 

With a copy by fax only to (which copy
shall not constitute notice):

 

Naidich Wurman

LLP 111 Great
Neck Road, Suite 216

Great Neck, NY 11021

Attn:
Allison Naidich

facsimile: 516-466-3555

e-mail: allison@nwlaw.com 10

 

    10

     

    

 

4.3
           Amendments. This Note and any provision hereof may only be amended
by an instrument in writing signed by the Borrower and the Holder. The term "Note" and all reference thereto, as used throughout
this instrument, shall mean this instrument (and the other Notes issued pursuant to the Purchase Agreement) as originally executed, or
if later amended or supplemented, then as so amended or supplemented.

 

4.4
           Most Favored Nation. During the period where any monies are owed to
the Holder pursuant to this Note, if the Borrower engages in any future financing transactions with a third party investor, the Borrower
will provide the Holder with written notice (the "MEN Notice") thereof promptly but in no event less than 10 days prior to
closing any financing transactions. Included with the MFN Notice shall be a copy of all documentation relating to such financing transaction
and shall include, upon written request of the Holder, any additional information related to such subsequent investment as may be reasonably
requested by the Holder. In the event the Holder determines that the terms of the subsequent investment are preferable to the terms of
the securities of the Borrower issued to the Holder pursuant to the terms of the Purchase Agreement, the Holder will notify the Borrower
in writing. Promptly after receipt of such written notice from the Holder, the Borrower agrees to amend and restate the Securities (which
may include the conversion terms of this Note), to be identical to the instruments evidencing the subsequent investment. Notwithstanding
the foregoing, this Section 4.4 shall not apply in respect of (i) an Exempt Issuance, or (ii) an underwritten public offering of Common
Stock. "Exempt Issuance" means the issuance of: (a) shares of Common Stock or options to employees, officers, consultants,
advisors or directors of the Borrower pursuant to any stock or option plan duly adopted for such purpose by a majority of the members
of the Board of Directors or a majority of the members of a committee of directors established for such purpose, (b) securities upon
the exercise or exchange of or conversion of this Note and/or other securities exercisable or exchangeable for or convertible into shares
of Common Stock issued and outstanding on the date hereof, and (c) securities issued pursuant to acquisitions or strategic transactions
approved by a majority of the disinterested directors of the Borrower, provided that any such issuance shall only be to a Person which
is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Borrower and in which
the Borrower receives benefits in addition to the investment of funds, but shall not include a transaction in which the Borrower is issuing
securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

4.5
           Assignability. This Note shall be binding upon the Borrower and its
successors and assigns, and shall inure to be the benefit of the Holder and its successors and assigns. Each transferee of this Note
must be an "accredited investor" (as defined in Rule 501(a) of the Securities and Exchange Commission). Notwithstanding anything
in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account or other lending arrangement;
and may be assigned by the Holder without the consent of the Borrower.

 

4.6
           Cost of Collection. If default is made in the payment of this Note,
the Borrower shall pay the Holder hereof costs of collection, including reasonable attorneys' fees.

 

    11

     

    

 

4.7
           Governing Law. This Note shall be governed by and construed in accordance
with the laws of the State of New York without regard to principles of conflicts of laws. Any action brought by either party against
the other concerning the transactions contemplated by this Note shall be brought only in the state courts of New York or in the federal
courts located in the state and county of Nassau. The parties to this Note hereby irrevocably waive any objection to jurisdiction and
venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum
non conveniens. The Borrower and Holder waive trial by jury. The prevailing party shall be entitled to recover from the other party its
reasonable attorney's fees and costs. In the event that any provision of this Note or any other agreement delivered in connection herewith
is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent
that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may
prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Note, any agreement or any other document delivered in connection with this Note by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to
it under this Note and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

4.8
           Purchase Agreement. By its acceptance of this Note, each party agrees
to be bound by the applicable terms of the Purchase Agreement.

 

4.9
           Remedies. The Borrower acknowledges that a breach by it of its obligations
hereunder will cause irreparable harm to the Holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly,
the Borrower acknowledges that the remedy at law for a breach of its obligations under this Note will be inadequate and agrees, in the
event of a breach or threatened breach by the Borrower of the provisions of this Note, that the Holder shall be entitled, in addition
to all other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions
restraining, preventing or curing any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity
of showing economic loss and without any bond or other security being required.

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this on September 8,
2020 

 

	ELECTROMEDICAL TECHNOLOGIES,
    INC.	 
	 	 	 
	by		 
	 	Matthew Wolfson	 
	 	Chief Executive Officer	 

 

    12

     

    

 

EXHIBIT
A -- NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert $___________________________ principal amount of the Note (defined below) into that number of
shares of Common Stock to be issued pursuant to the conversion of the Note ("Common Stock") as set forth below, of
ELECTROMEDICAL TECHNOLOGIES, INC., a Delaware corporation (the "Borrower") according to the conditions of the convertible
note of the Borrower dated as of September 8, 2020 (the "Note"), as of the date written below. No fee will be charged to
the Holder for any conversion, except for transfer taxes, if any.

 

Box Checked as to applicable instructions:

 

	 ̈ 	The Borrower shall electronically transmit the Common Stock
issuable pursuant to this Notice of Conversion to the account of the undersigned or its nominee with DTC through its Deposit Withdrawal
Agent Commission system ("DWAC Transfer").

 

Name of DTC
Prime Broker:

Account Number:

 

	 ̈ 	The undersigned hereby requests that the Borrower issue a certificate
or certificates for the number of shares of Common Stock set forth below (which numbers are based on the Holder's calculation attached
hereto) in the name(s) specified immediately below or, if additional space is necessary, on an attachment hereto:

 

REDSTART
HOLDINGS CORP.

1188
Willis Avenue

Albertson, New York 11507

Attention: Gregg
B. Solomon, President

e-mail: redstartholdingscorp@gmail.com

 

	 	Date
    of conversion:	 	 
	 	Applicable
    Conversion Price:	$	 	 
	 	Number
    of shares of common stock to be issued pursuant to conversion of the Notes:	 	 
	 	Amount
    of Principal Balance due remaining under the Note after this conversion:	 	 

 

	 	REDSTART
    HOLDINGS CORP.	 	 
	 	 	 	 
	 	By:	 	 	 
	 	Name: 	 Gregg B. Solomon, President	 	 
	 	 	Date:	 	 	 

 

    13

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