Document:

Code Green Apparel Corp 8-K

Exhibit 10.3

NEITHER THIS NOTE NOR
THE SECURITIES THAT MAY BE ISSUED BY THE COMPANY UPON CONVERSION HEREOF (COLLECTIVELY, THE “SECURITIES”) HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THE SECURITIES NOR ANY INTEREST OR PARTICIPATION THEREIN MAY BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED:
(I) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE 1933 ACT, OR APPLICABLE STATE SECURITIES
LAWS; OR (II) IN THE ABSENCE OF AN OPINION OF COUNSEL, IN A FORM ACCEPTABLE TO THE ISSUER, THAT REGISTRATION IS NOT REQUIRED UNDER
THE 1933 ACT OR; (III) UNLESS SOLD, TRANSFERRED OR ASSIGNED PURSUANT TO RULE 144 UNDER THE 1933 ACT.

10% CONVERTIBLE PROMISSORY
NOTE

MATURITY DATE OF FEBRUARY 25, 2018 *THE “MATURITY DATE”

$100,000 MAY 25, 2017 *THE “ISSUANCE
DATE”

PRINCIPAL AMOUNT: $100,000

PURCHASE PRICE:
$92,500

FOR VALUE RECEIVED, Code Green
Apparel Corp. (CGAC) a Nevada Corporation (the “Company”) doing business in Laguna Beach, California , hereby promises
to pay to the order of JSJ Investments Inc., an accredited investor and Texas Corporation, or its assigns (the “Holder”),
the principal amount of One Hundred Thousand Dollars ($100,000) (“Note”), on demand of the Holder at any time on or
after February 25, 2018 (the “Maturity Date”), and to pay interest on the unpaid principal balance hereof at the rate
of Ten Percent (10%) per annum (the “Interest Rate”) commencing on the date hereof (the “Issuance Date”).

The Principal Amount is One
Hundred Thousand Dollars ($100,000) and the consideration paid by the Holder is Ninety Two Thousand, Five Hundred Dollars ($92,500)
(the “Consideration”); there exists an original issue discount of $7,500 (the “OID”)).

1.       Payments
of Principal and Interest.

		a.	Pre-Payment and Payment of Principal and
Interest. The Company may pay this Note in full, together with any and all accrued and unpaid interest, plus any applicable pre-payment
premium set forth herein and subject to the terms of this Section 1.a, at any time on or prior to the date which occurs 180 days
after the Issuance Date hereof (the “Prepayment Date”). In the event the Note is not prepaid in full on or before the
Prepayment Date, it shall be deemed a “Pre-Payment Default” hereunder. Until the Ninetieth (90th) day after the Issuance
Date the Company may pay the principal at a cash redemption premium of 130%, in addition to outstanding interest, without the Holder’s
consent; from the 91st day to the One Hundred and Twentieth (120th) day after the Issuance Date, the Company may pay the principal
at a cash redemption premium of 135%, in addition to outstanding interest, without the Holder’s consent; from the 121st day
to the Prepayment Date, the Company may pay the principal at a cash redemption premium of 140%, in addition to outstanding interest,
without the Holder’s consent. After the Prepayment Date up to the Maturity Date this Note shall have a cash redemption premium
of 145% of the then outstanding principal amount of the Note, plus accrued interest and Default Interest, if any, which may only
be paid by the Company upon Holder’s prior written consent. At any time on or after the Maturity
Date, the Company may repay the then outstanding principal plus accrued interest and Default Interest (defined below), if any,
to the Holder.

		b.	Demand of Repayment. The principal and
interest balance of this Note shall be paid to the Holder hereof on demand by the Holder at any time on or after the Maturity Date.
The Default Amount (defined herein), if applicable, shall be paid to Holder hereof on demand by the Holder at any time such Default
Amount becomes due and payable to Holder.

		c.	Interest. This Note shall bear interest
(“Interest”) at the rate of Ten Percent (10%) per annum from the Issuance Date until the same is paid, or otherwise
converted in accordance with Section 2 below, in full and the Holder, at the Holder’s sole discretion, may include any accrued
but unpaid Interest in the Conversion Amount. Interest shall commence accruing on the Issuance Date, shall be computed on the basis
of a 365-day year and the actual number of days elapsed and shall accrue daily and, after the Maturity Date, compound quarterly.
Upon an Event of Default, as defined in Section 10 below, the Interest Rate shall increase to Eighteen Percent (18%) per annum
for so long as the Event of Default is continuing (“Default Interest”).

		d.	General Payment Provisions. This Note
shall be paid in lawful money of the United States of America by check or wire transfer to such account as the Holder may from
time to time designate by written notice to the Company in accordance with the provisions of this Note. Whenever any amount expressed
to be due by the terms of this Note is due on any day which is not a Business Day (as defined below), the same shall instead be
due on the next succeeding day which is a Business Day and, in the case of any interest payment date which is not the date on which
this Note is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining the
amount of interest due on such date. For purposes of this Note, “Business Day” shall mean any day other than a Saturday,
Sunday or a day on which commercial banks in the State of Texas are authorized or required by law or executive order to remain
closed.

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		2.	Conversion of Note. At any time after
the Issuance Date, the Conversion Amount (see Paragraph 2(a)(i)) of this Note shall be convertible into shares of the Company’s
common stock (the “Common Stock”) according to the terms and conditions set forth in this Paragraph 2.

		a.	Certain Defined Terms. For purposes of this Note, the following terms
shall have the following meanings:

		i.	“Conversion
Amount” means the sum of (a) the principal amount of this Note to be converted with respect to which this determination is
being made, (b) Interest; and (c) Default Interest, if any, if so included at the Holder’s sole discretion.

		ii.	“Conversion
Price” means the lower of: (i) a 45% discount to the lowest trading price during the previous twenty (20) trading days to
the date of a Conversion Notice; or (ii) a 45% discount to the lowest trading price during the previous twenty (20) trading days
before the date that this note was executed.

		iii.	“Person” means an individual,
a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization and a government
or any department or agency thereof.

		iv.	“Shares”
means the Shares of the Common Stock of the Company into which any balance on this Note may be converted upon submission of a “Conversion
Notice” to the Company substantially in the form attached hereto as Exhibit 1.

		b.	Holder’s
Conversion Rights. At any time after the Issuance Date, the Holder shall be entitled to convert all of the outstanding and unpaid
principal and accrued interest of this Note into fully paid and non-assessable shares of Common Stock in accordance with the stated
Conversion Price. The Holder shall not be entitled to convert on a Conversion Date that amount of the Note in connection with that
number of shares of Common Stock which would be in excess of the sum of the number of shares of Common Stock issuable upon the
conversion of the Note with respect to which the determination of this provision is being made on a Conversion Date, which would
result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock of
the Company on such Conversion Date. For the purposes of the provision 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, and Regulation 13d-3 thereunder.
Subject to the foregoing, the Holder shall not be limited to aggregate conversions of 4.99% (“Conversion Limitation 1”).
The Holder shall have the authority to determine whether the restriction contained in this Section 2(b) will limit any conversion
hereunder, and accordingly, the Holder may waive the conversion limitation described in this Section 2(b), in whole or in
part, upon and effective after 61 days prior written notice to the Company to increase or decrease such percentage to any other
amount as determined by Holder in its sole discretion (“Conversion Limitation 2”).

		c.	Fractional Shares.
The Company shall not issue any fraction of a share of Common Stock upon any conversion; if such issuance would result in the issuance
of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock up to the nearest whole
share except in the event that rounding up would violate the conversion limitation set forth in section 2(b) above.

		d.	Conversion Amount.
The Conversion Amount shall be converted pursuant to Rule 144(b)(1)(ii) and Rule 144(d)(1)(ii) as promulgated by the Securities
and Exchange Commission under the Securities Act of 1933, as amended, into unrestricted shares at the Conversion Price.

		e.	Mechanics of Conversion. The conversion of this Note shall be conducted
in the following manner:

		i.	Holder’s Conversion
Requirements. To convert this Note into shares of Common Stock on any date set forth in the Conversion Notice by the Holder (the
“Conversion Date”), the Holder shall transmit by email, facsimile or otherwise deliver, for receipt on or prior to
11:59 p.m., Eastern Time, on such date or on the next business day, a copy of a fully executed notice of conversion in the form
attached hereto as Exhibit 1 to the Company.

		ii.	Company’s Response. Upon receipt
by the Company of a copy of a Conversion Notice, the Company shall as soon as practicable, but in no event later than one (1) Business
Day after receipt of such Conversion Notice, send, via email, facsimile or overnight courier, a confirmation of receipt of such
Conversion Notice to such Holder indicating that the Company will process such Conversion Notice in accordance with the terms herein.
Within two (2) Business Days after the date the Conversion Notice is delivered, the Company shall have issued and electronically
transferred the shares to the Broker indicated in the Conversion Notice; should the Company be unable to transfer the shares electronically,
it shall, within two (2) Business Days after the date the Conversion Notice was delivered, have surrendered to an overnight courier
for delivery the next day to the address as specified in the Conversion Notice, a certificate, registered in the name of the Holder,
for the number of shares of Common Stock to which the Holder shall be entitled.

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		iii.	Record Holder. The person or persons entitled
to receive the shares of Common Stock issuable upon a conversion of this Note shall be treated for all purposes as the record holder
or holders of such shares of Common Stock on the Conversion Date.

		iv.	Timely Response by Company. Upon receipt
by Company of a Conversion Notice, Company shall respond within one business day to Holder confirming the details of the Conversion,
and provide within two business days the Shares requested in the Conversion Notice.

		v.	Liquidated Damages for Delinquent Response.
If the Company fails to deliver for whatever reason (including any neglect or failure by, e.g., the Company, its counsel
or the transfer agent) to Holder the Shares as requested in a Conversion Notice within three (3) business days of the Conversion
Date, the Company shall be deemed in “Default of Conversion.” Beginning on the fourth (4th) business day after the
date of the Conversion Notice, after the Company is deemed in Default of Conversion, there shall accrue liquidated damages (the
“Conversion Damages”) of $2,000 per day for each day after the third business day until delivery of the Shares is made,
and such penalty will be added to the Note being converted (under the Company’s and Holder’s expectation and understanding
that any penalty amounts will tack back to the Issuance Date of the Note). The Parties agree that, at the time of drafting of this
Note, the Holder’s damages as to the delinquent response are incapable or difficult to estimate and that the liquidated damages
called for is a reasonable forecast of just compensation.

		vi.	Liquidated Damages for Inability to Issue
Shares. If the Company fails to deliver Shares requested by a Conversion Notice due to an exhaustion of authorized and issuable
common stock such that the Company must increase the number of shares of authorized Common Stock before the Shares requested may
be issued to the Holder, the discount set forth in the Conversion Price will be increased by 5 percentage points (i.e. 40% to 45%)
for the Conversion Notice in question and all future Conversion Notices until the outstanding principal and interest of the Note
is converted or paid in full. These liquidated damages shall not render the penalties prescribed by Paragraph 2(e)(v) void, and
shall be applied in conjunction with Paragraph 2(e)(v) unless otherwise agreed to in writing by the Holder. The Parties agree that,
at the time of drafting of this Note, the Holder’s damages as to the inability to issue shares are incapable or difficult
to estimate and that the liquidated damages called for is a reasonable forecast of just compensation.

		vii.	Rescindment of Conversion Notice. If:
(i) the Company fails to respond to Holder within one business day from the date of delivery of a Conversion Notice confirming
the details of the Conversion, (ii) the Company fails to provide the Shares requested in the Conversion Notice within three business
days from the date of the delivery of the Conversion Notice, (iii) the Holder is unable to procure a legal opinion required to
have the Shares issued unrestricted and/or deposited to sell for any reason related to the Company’s standing with the SEC
or FINRA, or any action or inaction by the Company, (iv) the Holder is unable to deposit the Shares requested in the Conversion
Notice for any reason related to the Company’s standing with the SEC or FINRA, or any action or inaction by the Company,
(v) if the Holder is informed that the Company does not have the authorized and issuable Shares available to satisfy the Conversion,
or (vi) if OTC Markets changes the Company’s designation to ‘Limited Information’ (Yield), ‘No Information’
(Stop Sign), ‘Caveat Emptor’ (Skull and Crossbones), or ‘OTC’, ‘Other OTC’ or ‘Grey Market’
(Exclamation Mark Sign) on the day of or any day after the date of the Conversion Notice, the Holder maintains the option and sole
discretion to rescind the Conversion Notice (“Rescindment”) by delivering a notice of rescindment to the Company in
the same manner that a Conversion Notice is required to be delivered to the Company pursuant to the terms of this Note.

		viii.	Transfer Agent Fees and Legal Fees. The
issuance of the certificates shall be without charge or expense to the Holder. The Company shall pay any and all Transfer Agent
fees, legal fees, and advisory fees required for execution of this Note and processing of any Notice of Conversion, including but
not limited to the cost of obtaining a legal opinion with regard to the Conversion. The Holder will deduct $2,000 from the principal
payment of the Note solely to cover the cost of obtaining any and all legal opinions required to obtain the Shares requested in
any given Conversion Notice. These fees do not make provision for or suffice to defray any legal fees incurred in collection or
enforcement of the Note as described in Paragraph 13.

		ix.	Conversion Right Unconditional. If the
Holder shall provide a Notice of Conversion as provided herein, the Company’s obligations to deliver Common Stock shall be
absolute and unconditional, irrespective of any claim of setoff, counterclaim, recoupment, or alleged breach by the Holder of any
obligation to the Company.

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		3.	Other Rights of
Holder: Reorganization, Reclassification, Consolidation, Merger or Sale. Any recapitalization, reorganization, reclassification,
consolidation, merger, sale of all or substantially all of the Company’s assets to another Person or other transaction which
is effected in such a way that holders of Common Stock are entitled to receive (either directly or upon subsequent liquidation)
stock, securities, cash or other assets with respect to or in exchange for Common Stock is referred to herein as “Organic
Change.” Prior to the consummation of any (i) Organic Change or (ii) other Organic Change following which the Company is
not a surviving entity, the Company will secure from the Person purchasing such assets or the successor resulting from such Organic
Change (in each case, the “Acquiring Entity”) a written agreement (in form and substance reasonably satisfactory to
the Holder) to deliver to Holder in exchange for this Note, a security of the Acquiring Entity evidenced by a written instrument
substantially similar in form and substance to this Note, and reasonably satisfactory to the Holder. Prior to the consummation
of any other Organic Change, the Company shall make appropriate provision (in form and substance reasonably satisfactory to the
Holder) to ensure that the Holder will thereafter have the right to acquire and receive in lieu of or in addition to (as the case
may be) the shares of Common Stock immediately theretofore acquirable and receivable upon the conversion of the Note, such shares
of stock, securities, cash or other assets that would have been issued or payable in such Organic Change with respect to or in
exchange for the number of shares of Common Stock which would have been acquirable and receivable upon the conversion of the Note
as of the date of such Organic Change (without taking into account any limitations or restrictions on the convertibility of the
Note set forth in Section 2(b) or otherwise). All provisions of this Note must be included to the satisfaction of Holder in any
new Note created pursuant to this section.

		4.	Representations
and Warranties of the Company. In connection with the transactions provided for herein, the Company hereby represents and warrants
to the Holder the following:

		a.	Organization, Good
Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of
the state of its incorporation and has all requisite corporate power and authority to carry on its business as now conducted. The
Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify
would have a material adverse effect on its business or properties.

		b.	Authorization. All corporate action has
been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and
delivery of this Agreement. The Company has taken all corporate action required to make all of the obligations of the Company reflected
in the provisions of this Agreement, valid and enforceable obligations. The shares of capital stock issuable upon conversion of
the Note have been authorized or will be authorized prior to the issuance of such shares.

		c.	Fiduciary Obligations. The Company hereby
represents that it intends to use the proceeds of the Note primarily for the operations of its business and not for any personal,
family, or household purpose. The Company hereby represents that its board of directors, in the exercise of its fiduciary duty,
has approved the execution of this Agreement based upon a reasonable belief that the proceeds of the Note provided for herein is
appropriate for the Company after reasonable inquiry concerning its financial objectives and financial situation.

		d.	Data Request Form.
The Company hereby represents and warrants to Holder that all of the information furnished to Holder pursuant to the data request
form (“DRF”) dated May 25, 2017 is true and correct in all material respects as of the date hereof.

		5.	Covenants of the Company.

		a.	So long as the Company shall have any
obligations under this Note, the Company shall not without the Holder’s prior written consent pay, declare or set apart for
such payment any dividend or other distribution (whether in cash, property, or other securities) on shares of capital stock solely
in the form of additional shares of Common Stock

		b.	So long as the Company
shall have any obligations under this Note, the Company shall not without the Holder’s prior written consent redeem, repurchase,
or otherwise acquire (whether for cash or in exchange for property or other securities) in any one transaction or series of transactions
any shares of capital stock of the Company or any warrants, rights, or options to acquire any such shares.

		c.	So long as the Company shall have any
obligations under this Note, the Company shall not without the Holder’s prior written consent sell, lease, or otherwise dispose
of a significant portion of its assets outside the ordinary course of business. Any consent to the disposition of any assets may
be conditioned upon a specified use of the proceeds thereof..

		6.	Reservation of Shares. The Company shall
at all times, so long as any principal amount of the Note is outstanding, reserve and keep available out of its authorized and
unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Note, five times the number of shares
of Common Stock as shall at all times be sufficient to effect the conversion of all of the principal amount, plus Interest and
Default Interest, if any, of the Note then outstanding (“Share Reserve”), unless the Holder stipulates otherwise in
the “Irrevocable Letter of Instructions to the Transfer Agent.” So long as this Note is outstanding, upon written request
of the Holder or via telephonic communication, the Company’s Transfer Agent shall furnish to the Holder the then-current
number of common shares issued and outstanding, the then-current number of common shares authorized, the then-current number of
unrestricted shares, and the then-current number of shares reserved for third parties.

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		7.	Voting Rights. The Holder of this Note
shall have no voting rights as a note holder, except as required by law, however, upon the conversion of any portion of this Note
into Common Stock, Holder shall have the same voting rights as all other Common Stock holders with respect to such shares of Common
Stock then owned by Holder.

		8.	Reissuance of Note.
In the event of a conversion or redemption pursuant to this Note of less than all of the Conversion Amount represented by this
Note, the Company shall promptly cause to be issued and delivered to the Holder, upon tender by the Holder of the Note converted
or redeemed, a new note of like tenor representing the remaining principal amount of this Note which has not been so converted
or redeemed and which is in substantially the same form as this Note, as set forth above.

		9.	Default and Remedies.

		a.	Event of Default. For purposes of this Note, an “Event of Default”
shall occur upon:

		i.	the Company’s default in the payment
of the outstanding principal, Interest or Default Interest of this Note when due, whether at Maturity, acceleration or otherwise;

		ii.	the occurrence of a Default of Conversion as set forth in Section
2(e)(v);

		iii.	the failure by the
Company for ten (10) days after notice to it to comply with any material provision of this Note not included in this Section 10(a);

		iv.	the Company’s
breach of any covenants, warranties, or representations made by the Company herein;

		v.	any of the information in the DRF is false or misleading in any material
respect;

		vi.	the default by the Company in any Other
Agreement entered into by and between the Company and Holder, for purposes hereof “Other Agreement” shall mean, collectively,
all agreements and instruments between, among or by: (1) the Company, and, or for the benefit of, (2) the Holder and any affiliate
of the Holder, including without limitation, promissory notes;

		vii.	the cessation of operations of the Company or a material subsidiary;

		viii.	the Company pursuant
to or within the meaning of any Bankruptcy Law; (a) commences a voluntary case; (b) consents to the entry of an order for relief
against it in an involuntary case; (c) consents to the appointment of a Custodian of it or for all or substantially all of its
property; (d) makes a general assignment for the benefit of its creditors; or (e) admits in writing that it is generally unable
to pay its debts as the same become due;

		ix.	court of competent jurisdiction entering
an order or decree under any Bankruptcy Law that: (a) is for relief against the Company in an involuntary case; (b) appoints a
Custodian of the Company or for all or substantially all of its property; or (c) orders the liquidation of the Company or any subsidiary,
and the order or decree remains unstayed and in effect for thirty (30) days;

		x.	the Company files a Form 15 with the SEC;

		xi.	the Company’s failure to timely
file all reports required to be filed by it with the Securities and Exchange Commission;

		xii.	the Company’s failure to timely
file all reports required to be filed by it with OTC Markets to remain a “Current Information” designated company;

		xiii.	the Company’s Common Stock is reported
as “No Inside” by OTC Markets at any time while any principal, Interest or Default Interest under the Note remains
outstanding;

		xiv.	the Company’s failure to maintain
the required Share Reserve pursuant to the terms of the Irrevocable Letter of Instructions to the Transfer Agent;

		xv.	the Company directs its transfer agent
not to transfer, or delays, impairs, 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 and stop transfer instructions) 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 its obligations pursuant to a Conversion
Notice submitted by the Holder) and any such failure shall continue uncured for three (3) Business Days after the Conversion Notice
has been delivered to the Company by Holder;

		xvi.	the Company’s
failure to remain current in its billing obligations with its transfer agent and such delinquency causes the transfer agent to
refuse to issue Shares to Holder pursuant to a Conversion Notice;

		xvii.	the Company effectuates
a reverse split of its Common Stock and fails to provide twenty (20) days prior written notice to Holder of its intention to do
so; or

		xviii.	OTC Markets changes
the Company’s designation to ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull and Crossbones),
or ‘OTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Sign).

		xix.	“Change
of Control Transaction” means the occurrence after the date hereof of any of (a) an acquisition after the date hereof by
an individual or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Securities Exchange
Act of 1934) of effective control (whether through legal or beneficial ownership of capital stock of the Company, by contract or
otherwise) of in excess of 40% of the voting securities of the Company, (b) the Company merges into or consolidates with any other
Person, as that term is defined in the Securities Act of 1933, as amended, or any Person merges into or consolidates with the Company
and, after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction own less than
60% of the aggregate voting power of the Company or the successor entity of such transaction, (c) the Company sells or transfers
all or substantially all of its assets to another Person and the stockholders of the Company immediately prior to such transaction
own less than 60% of the aggregate voting power of the acquiring entity immediately after the transaction, (d) a replacement at
one time or within a three year period of more than one-half of the members of the Board of Directors which is not approved by
a majority of those individuals who are members of the Board of Directors on the Issuance Date (or by those individuals who are
serving as members of the Board of Directors on any date whose nomination to the Board of Directors was approved by a majority
of the members of the Board of Directors who are members on the date hereof), or (e) the execution by the Company of an agreement
to which the Company is a party or by which it is bound.

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The Term “Bankruptcy
Law” means Title 11, U.S. Code, or any similar Federal or State Law for the relief of debtors. The term “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

		b.	Remedies. If an
Event of Default occurs, the Holder may in its sole discretion determine to request immediate repayment of all or any portion of
the Note that remains outstanding; at such time the Company will be required to pay the Holder the Default Amount (defined herein)
in cash. For purposes hereof, the “Default Amount” shall mean: the product of (A) the then outstanding principal amount
of the Note, plus accrued Interest and Default Interest, divided by (B) the Conversion Price as determined on the Issuance Date,
multiplied by (C) the highest price at which the Common Stock traded at any time between the Issuance Date and the date of the
Event of Default. If the Company fails to pay the Default Amount within five (5) Business Days of written notice that such amount
is due and payable, then Holder shall have the right at any time, so long as the Company remains in default (and so long and to
the extent there are a sufficient number of authorized but unissued shares), to require the Company, upon written notice, to immediately
issue, in lieu of the Default Amount, the number of shares of Common Stock of the Company equal to the Default Amount divided by
the Conversion Price then in effect.

		10.	Vote to Change the
Terms of this Note. This Note and any provision hereof may only be amended by an instrument in writing signed by the Company and
the Holder.

		11.	Lost or Stolen
Note. Upon receipt by the Company of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of this
Note, and, in the case of loss, theft or destruction, of an indemnification undertaking by the Holder to the Company in a form
reasonably acceptable to the Company and, in the case of mutilation, upon surrender and cancellation of the Note, the Company shall
execute and deliver a new Note of like tenor and date and in substantially the same form as this Note; provided, however, the Company
shall not be obligated to re-issue a Note if the Holder contemporaneously requests the Company to convert such remaining principal
amount, plus accrued Interest and Default Interest, if any, into Common Stock.

		12.	Payment of Collection,
Enforcement and Other Costs. If: (i) this Note is placed in the hands of an attorney for collection or enforcement or is collected
or enforced through any legal proceeding; or (ii) an attorney is retained to represent the Holder of this Note in any bankruptcy,
reorganization, receivership or other proceedings affecting creditors’ rights and involving a claim under this Note, then
the Company shall pay to the Holder all reasonable attorneys’ fees, costs and expenses incurred in connection therewith,
in addition to all other amounts due hereunder.

		13.	Cancellation. After
all principal, accrued Interest and Default Interest, if any, at any time owed on this Note has been paid in full or otherwise
converted in full, this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation and shall
not be reissued.

		14.	Waiver of Notice. To the extent permitted
by law, the Company hereby waives demand, notice, protest and all other demands and notices in connection with the delivery, acceptance,
performance, default or enforcement of this Note.

		15.	Governing Law.
This Note shall be construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation
and performance of this Note shall be governed by, the laws of the State of Texas, without giving effect to provisions thereof
regarding conflict of laws. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the state and federal courts
sitting in Texas for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that
it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of
process and consents to process being served in any such suit, action or proceeding by sending, through certified mail or overnight
courier, a copy thereof to such party at the address for such notices to it under this Agreement 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 manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND
AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS
AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

		16.	Remedies, Characterizations, Other Obligations,
Breaches and Injunctive Relief. The remedies provided in this Note shall be cumulative and in addition to all other remedies available
under this Note, at law or in equity (including a decree of specific performance and/or other injunctive relief), and no remedy
contained herein shall be deemed a waiver of compliance with the provisions giving rise to such remedy and nothing herein shall
limit the Holder’s right to pursue actual damages for any failure by the Company to comply with the terms of this Note. The
Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided
herein. Amounts set forth or provided for herein with respect to payments, conversion and the like (and the computation thereof)
shall be the amounts to be received by the Holder thereof and shall not, except as expressly provided herein, be subject to any
other obligation of the Company (or the performance thereof).

    	6 

    	 

    

 

		17.	Specific Shall Not Limit General; Construction.
No specific provision contained in this Note shall limit or modify any more general provision contained herein. This Note shall
be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any person as the drafter hereof.

		18.	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 further exercise thereof
or of any other right, power or privilege.

		19.	Partial Payment. In the event of partial
payment by the Holder, the principal sum due to the Holder shall be prorated based on the consideration actually paid by the Holder
such that the Company is only required to repay the amount funded and the Company is not required to repay any unfunded portion
of this Note, with the exception of any OID contemplated herein.

		20.	Entire Agreement.
This Agreement constitutes the full and entire understanding and agreement between the parties with regard to the subjects herein.
None of the terms of this Agreement can be waived or modified, except by an express agreement signed by all Parties hereto.

		21.	Additional Representations and Warranties.
The Company expressly acknowledges that the Holder, including but not limited to its officer, directors, employees, agents, and
affiliates, have not made any representation or warranty to it outside the terms of this Agreement. The Company further acknowledges
that there have been no representations or warranties about future financing or subsequent transactions between the parties.

		22.	Notices. All notices
and other communications given or made to the Company pursuant hereto shall be in writing (including facsimile or similar electronic
transmissions) and shall be deemed effectively given: (i) upon personal delivery, (ii) when sent by electronic mail or facsimile,
as deemed received by the close of business on the date sent, (iii) five
(5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid or (iv) one
(1) day after deposit with a nationally recognized overnight courier, specifying next day delivery. All communications shall be
sent either by email, or fax, or to the email address or facsimile number set forth on the signature page hereto. The physical
address, email address, and phone number provided on the signature page hereto shall be considered valid pursuant to the above
stipulations; should the Company’s contact information change from that listed on the signature page, it is incumbent on
the Company to inform the Holder.

		23.	Severability. If one or more provisions
of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the
rest of the Agreement shall be enforceable in accordance with its terms.

		24.	Usury. If it shall
be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable
rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable
law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim or take advantage of any law
that would prohibit or forgive the Company from paying all or a portion of the principal, Interest or Default Interest on this
Note.

		25.	Successors and Assigns. This Agreement shall be binding upon all successors
and assigns hereto.

— SIGNATURE PAGE TO FOLLOW
—

    	7 

    	 

    

 

IN WITNESS WHEREOF, the Company has caused this Note
to be signed by its CEO, on and as of the Issuance Date.

COMPANY

	Signature: 	/s/ George J. Powell, III
	 	 
	By:	George J. Powell, III
	 	 
	Title:	President & CEO
	 	 
	Address:	31642 S. Coast Hwy #102
	 	Laguna Beach, CA 92651
	 	 
	Email:	george@codegreenapparel.com
	 	 
	Phone:	(214) 497-9433
	 	 
	Facsimile:	 

 

 

JSJ Investments Inc.

 

Signature: /s/ Sameer Hirji

 

 

Sameer Hirji, President

JSJ Investments Inc.

10830 North Central Expressway, Suite 152

Dallas TX 75231

888-503-2599

    	8 

    	 

    

 

Exhibit 1

Conversion Notice

Reference is made to the 10%
Convertible Note issued by Code Green Apparel Corp. (the “Note”), dated May 25, 2017 in the principal amount of $100,000
with 10% interest. This note currently holds a principal balance of $100,000. The features of conversion stipulate a Conversion
Price equal to the lower of: (i) a 45% discount to the lowest trading price during the previous twenty (20) trading days to the
date of a Conversion Notice; or (ii) a 45% discount to the lowest trading price during the previous twenty (20) trading days before
the date that this note was executed.

In accordance with and pursuant
to the Note, the undersigned hereby elects to convert $______________ of the principal/interest balance of the Note,
indicated below into shares of Common Stock (the “Common Stock”), of the Company, by tendering the Note specified as
of the date specified below.

Date of Conversion: ____________

Please confirm the following information: Conversion

Amount: $ _________________________

Conversion Price: $______________(______% discount
from $__________________________)

	Number
of Common Stock to be issued:	 
	 	 
	Current Issued/Outstanding:	

If the Issuer is DWAC eligible, please issue the
Common Stock into which the Note is being converted in the name of the Holder of the Note and transfer the shares electronically
to:

[BROKER INFORMATION]

Holder Authorization:

JSJ Investments Inc.

10830 North Central Expressway, Suite 152                        *Do
not send certificates to this address

Dallas, TX 75231

888-503-2599

Tax ID: 20-2122354

 

Sameer Hirji, President

 

[DATE]

[CONTINUED ON NEXT PAGE]

 

    	9 

    	 

    

 

PLEASE BE ADVISED, pursuant
to Section 2(e)(ii) of the Note, “Upon receipt by the Company of a copy of the Conversion Notice, the Company shall as soon
as practicable, but in no event later than one (1) Business Day after receipt of such Conversion Notice, SEND, VIA EMAIL, FACSIMILE
OR OVERNIGHT COURIER, A CONFIRMATION OF RECEIPT OF SUCH CONVERSION NOTICE TO SUCH HOLDER INDICATING THAT THE COMPANY WILL PROCESS
SUCH CONVERSION NOTICE in accordance with the terms herein. Within two (2) Business Days after the date of the Conversion Confirmation,
the Company shall have issued and electronically transferred the shares to the Broker indicated in the Conversion Notice; should
the Company be unable to transfer the shares electronically, they shall, within two (2) Business Days after the date of the Conversion
Confirmation, have surrendered to FedEx for delivery the next day to the address as specified in the Conversion Notice, a certificate,
registered in the name of the Holder, for the number of shares of Common Stock to which the Holder shall be entitled.”

 

Signature:

________________________________

George Powell, III

CEO, President, Secretary

Code Green Apparel Corp.

 

    	10Code Green Apparel Corp 8-K

Exhibit 10.4

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES
PURCHASE AGREEMENT (the “Agreement”), dated as of June 5, 2017, by and between CODE GREEN APPAREL CORP.,
a Nevada corporation, with headquarters located at 31642 Pacific Coast Highway, Suite 102, Laguna Beach, CA 92651 (the “Company”),
and AUCTUS FUND, LLC, a Delaware limited liability company, with its address at 101 Arch Street, 20th Floor, Boston, MA
02110 (the “Buyer”).

 

WHEREAS:

 

A.       The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under
the Securities Act of 1933, as amended (the “1933 Act”);

 

B.       Buyer
desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement the 10%
convertible note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of US$150,000.00 (together
with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the
terms thereof, the “Note”), convertible into shares of common stock, $0.001 par value per share, of the Company (the
“Common Stock”), upon the terms and subject to the limitations and conditions set forth in such Note.

 

C.       The
Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth
immediately below its name on the signature pages hereto; and

 

NOW THEREFORE,
the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.        PURCHASE
AND SALE OF NOTE.

 

a.       Purchase
of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase
from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages
hereto.

 

b.       Form
of Payment. On or around the Closing Date (as defined below), the Buyer shall pay the purchase price for the first tranche
of $100,000.00 under the Note, which is equal to $100,000.00 (the “Purchase Price”) by wire transfer of immediately
available funds, in accordance with the Company’s written wiring instructions, against delivery of the Note, and the Company
shall deliver such duly executed Note on behalf of the Company, to the Buyer. Additional amounts (additional tranches) under the
Note will be funded pursuant to the terms of the Note.

 

     

     

    

 

c.       Closing
Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 7 and Section 8 below,
the date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be 12:00
noon, Eastern Standard Time on or about June 5, 2017, or such other mutually agreed upon time. The closing of the transactions
contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to
by the parties.

 

2.        REPRESENTATIONS
AND WARRANTIES OF THE BUYER. The Buyer represents and warrants to the Company that:

 

a.       Investment
Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of
or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any, as are issuable
(i) on account of interest on the Note (ii) as a result of the events described in Sections 1.3 and 1.4(g) of the Note or (iii)
in payment of the Standard Liquidated Damages Amount (as defined in Section 2(f) below) pursuant to this Agreement, such shares
of Common Stock being collectively referred to herein as the “Conversion Shares” and, collectively with the Note, the
“Securities”) for its 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 1933 Act; provided, however, that by making
the representations herein, the Buyer does not agree to hold any of the Securities for any minimum or other specific term and reserves
the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement or an exemption under
the 1933 Act.

 

b.       Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D (an
“Accredited Investor”).

 

c.       Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it 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 the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and
understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the
Buyer to acquire the Securities.

 

d.       Information.
The Buyer and its advisors, if any, have been, and for so long as the Note remains outstanding will continue to be, furnished with
all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of
the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for so
long as the Note remains outstanding will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding
the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information
unless such information is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries
nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or affect
Buyer’s right to rely on the Company’s representations and warranties contained in Section 3 below. The Buyer understands
that its investment in the Securities involves a significant degree of risk. The Buyer is not aware of any facts that may constitute
a breach of any of the Company’s representations and warranties made herein.

 

    2 

     

    

 

e.       Governmental
Review. The Buyer understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities.

 

f.        Transfer
or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being registered under
the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the Securities are sold
pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to the Company, at the cost
of the Company, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable
transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from
such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred to an “affiliate”
(as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)) of the Buyer who agrees
to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited Investor, (d) the
Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the 1933 Act (or a successor
rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at the cost of the Company, an opinion of
counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions, which opinion shall
be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only in accordance with the
terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances in which the
seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the 1933 Act)
may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder; and (iii)
neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the foregoing or anything
else contained herein to the contrary, the Securities may be pledged as collateral in connection with a bona fide margin
account or other lending arrangement.

 

    3 

     

    

 

g.       Legends.
The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the 1933 Act may be
sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular date that can
then be immediately sold, the Conversion Shares may bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

 

“NEITHER THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE 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 (I) 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 OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A 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.”

 

The legend set forth
above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security upon which it
is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under an
effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation S without
any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such holder provides
the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions,
to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act, which opinion
shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities, including those
represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus delivery requirements,
if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with respect to the transfer
of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, at the Deadline, it will be considered
an Event of Default pursuant to Section 3.2 of the Note.

 

h.       Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf
of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its terms.

 

    4 

     

    

 

i.        Residency.
The Buyer is a resident of the jurisdiction set forth in the preamble.

 

3.        REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. The Company represents and warrants to the Buyer that:

 

a.       Organization
and Qualification. The Company and each of its Subsidiaries (as defined below), if any, is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted. The Company and each of its Subsidiaries is duly qualified as a foreign corporation to do business and is in good
standing in every jurisdiction in which its ownership or use of property or the nature of the business conducted by it makes such
qualification necessary except where the failure to be so qualified or in good standing would not have a Material Adverse Effect.
“Material Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition
or prospects of the Company or its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the
agreements or instruments to be entered into in connection herewith. “Subsidiaries” means any corporation or other
organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly, any equity or other ownership
interest.

 

b.       Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the
Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of the
transactions contemplated hereby and thereby (including without limitation, the issuance of the Note and the issuance and reservation
for issuance of the Conversion Shares issuable upon conversion or exercise thereof) have been duly authorized by the Company’s
Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its shareholders is required,
(iii) this Agreement has been duly executed and delivered by the Company by its authorized representative, and such authorized
representative is the true and official representative with authority to sign this Agreement and the other documents executed in
connection herewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery by the
Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms.

 

    5 

     

    

 

c.       Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of: (i) 1,990,000,000 shares of Common Stock, of which
approximately 488,376,582 shares are issued and outstanding; and (ii) 201,000 shares of preferred stock, of which 66,000 are issued
and outstanding. Except as disclosed in the SEC Documents, no shares are reserved for issuance pursuant to the Company’s
stock option plans, no shares are reserved for issuance pursuant to securities (other than the Note and any other convertible promissory
note issued to the Buyer) exercisable for, or convertible into or exchangeable for shares of Common Stock and 431,034,482 shares
are reserved for issuance upon conversion of the Note. All of such outstanding shares of capital stock are, or upon issuance will
be, duly authorized, validly issued, fully paid and non-assessable. No shares of capital stock of the Company are subject to preemptive
rights or any other similar rights of the shareholders of the Company or any liens or encumbrances imposed through the actions
or failure to act of the Company. Except as disclosed in the SEC Documents, as of the effective date of this Agreement, (i) there
are no outstanding options, warrants, scrip, rights to subscribe for, puts, calls, rights of first refusal, agreements, understandings,
claims or other commitments or rights of any character whatsoever relating to, or securities or rights convertible into or exchangeable
for any shares of capital stock of the Company or any of its Subsidiaries, or arrangements by which the Company or any of its Subsidiaries
is or may become bound to issue additional shares of capital stock of the Company or any of its Subsidiaries, (ii) there are no
agreements or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of any of its or
their securities under the 1933 Act and (iii) there are no anti-dilution or price adjustment provisions contained in any security
issued by the Company (or in any agreement providing rights to security holders) that will be triggered by the issuance of the
Note or the Conversion Shares. The Company has filed in its SEC Documents true and correct copies of the Company’s Certificate
of Incorporation as in effect on the date hereof (“Certificate of Incorporation”), the Company’s By-laws, as
in effect on the date hereof (the “By-laws”), and the terms of all securities convertible into or exercisable for Common
Stock of the Company and the material rights of the holders thereof in respect thereto. The Company shall provide the Buyer with
a written update of this representation signed by the Company’s Chief Executive on behalf of the Company as of the Closing
Date.

 

d.       Issuance
of Shares. The issuance of the Note is duly authorized and, upon issuance in accordance with the terms of this Agreement, will
be validly issued, fully paid and non-assessable and free from all preemptive or similar rights, taxes, liens, charges and other
encumbrances with respect to the issue thereof. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion
of the Note in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and 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 Company and will not impose personal liability upon the holder thereof.

 

e.       Acknowledgment
of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance
of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to issue Conversion
Shares upon conversion of the Note in accordance with this Agreement, the Note is absolute and unconditional regardless of the
dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

    6 

     

    

 

f.        No
Conflicts. The execution, delivery and performance of this Agreement and the Note by the Company and the consummation by the
Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for issuance
of the Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of Incorporation
or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which
with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment, acceleration
or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of its Subsidiaries
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state
securities laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities are
subject) applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries
is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
as would not, individually or in the aggregate, have a Material Adverse Effect). Neither the Company nor any of its Subsidiaries
is in violation of its Certificate of Incorporation, By-laws or other organizational documents and neither the Company nor any
of its Subsidiaries is in default (and no event has occurred which with notice or lapse of time or both could put the Company or
any of its Subsidiaries in default) under, and neither the Company nor any of its Subsidiaries has taken any action or failed to
take any action that would give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture or instrument to which the Company or any of its Subsidiaries is a party or by which any property or assets of the Company
or any of its Subsidiaries is bound or affected, except for possible defaults as would not, individually or in the aggregate, have
a Material Adverse Effect. The businesses of the Company and its Subsidiaries, if any, are not being conducted, and shall not be
conducted so long as the Buyer owns any of the Securities, in violation of any law, ordinance or regulation of any governmental
entity. Except as specifically contemplated by this Agreement and as required under the 1933 Act and any applicable state securities
laws, the Company is not required to obtain any consent, authorization or order of, or make any filing or registration with, any
court, governmental agency, regulatory agency, self-regulatory organization or stock market or any third party in order for it
to execute, deliver or perform any of its obligations under this Agreement, the Note in accordance with the terms hereof or thereof
or to issue and sell the Note in accordance with the terms hereof and to issue the Conversion Shares upon conversion of the Note.
All consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant to the preceding
sentence have been obtained or effected on or prior to the date hereof. The Company is not in violation of the listing requirements
of the OTC Pink (the “OTC Pink”), the OTCQB or any similar quotation system, and does not reasonably anticipate that
the Common Stock will be delisted by the OTC Pink, the OTCQB or any similar quotation system, in the foreseeable future nor are
the Company’s securities “chilled” by DTC. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

    7 

     

    

 

g.       SEC
Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended (the “1934
Act”) (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial statements and
schedules thereto and documents (other than exhibits to such documents) incorporated by reference therein, being hereinafter referred
to herein as the “SEC Documents”). The Company has delivered to the Buyer true and complete copies of the SEC Documents,
except for such exhibits and incorporated documents. As of their respective dates, the SEC Documents complied in all material respects
with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents,
and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading. None of the statements made in any such SEC Documents is, or has been, required to
be amended or updated under applicable law (except for such statements as have been amended or updated in subsequent filings prior
the date hereof). As of their respective dates, the financial statements of the Company included in the SEC Documents complied
as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC
with respect thereto. Such financial statements have been prepared in accordance with United States generally accepted accounting
principles, consistently applied, during the periods involved and fairly present in all material respects the consolidated financial
position of the Company and its consolidated Subsidiaries as of the dates thereof and the consolidated results of their operations
and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments).
Except as set forth in the financial statements of the Company included in the SEC Documents, the Company has no liabilities, contingent
or otherwise, other than (i) liabilities incurred in the ordinary course of business subsequent to March 31, 2017, and (ii) obligations
under contracts and commitments incurred in the ordinary course of business and not required under generally accepted accounting
principles to be reflected in such financial statements, which, individually or in the aggregate, are not material to the financial
condition or operating results of the Company. The Company is subject to the reporting requirements of the 1934 Act. For the avoidance
of doubt, filing of the documents required in this Section 3(g) via the SEC’s Electronic Data Gathering, Analysis, and Retrieval
system (“EDGAR”) shall satisfy all delivery requirements of this Section 3(g).

 

h.       Absence
of Certain Changes. Since March 31, 2017, there has been no material adverse change and no material adverse development in
the assets, liabilities, business, properties, operations, financial condition, results of operations, prospects or 1934 Act reporting
status of the Company or any of its Subsidiaries.

 

i.        Absence
of Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board,
government agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries,
threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in their capacity as such,
that could have a Material Adverse Effect. Schedule 3(i) contains a complete list and summary description of any pending or, to
the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without regard
to whether it would have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

    8 

     

    

 

j.        Patents,
Copyrights, etc. The Company and each of its Subsidiaries owns or possesses the requisite licenses or rights to use all patents,
patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications, service marks, service
names, trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct its business as now operated
(and, as presently contemplated to be operated in the future). Except as disclosed in the SEC Documents, there is no claim or action
by any person pertaining to, or proceeding pending, or to the Company’s knowledge threatened, which challenges the right
of the Company or of a Subsidiary with respect to any Intellectual Property necessary to enable it to conduct its business as now
operated (and, as presently contemplated to be operated in the future); to the best of the Company’s knowledge, the Company’s
or its Subsidiaries’ current and intended products, services and processes do not infringe on any Intellectual Property or
other rights held by any person; and the Company is unaware of any facts or circumstances which might give rise to any of the foregoing.
The Company and each of its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value
of their Intellectual Property.

 

k.       No
Materially Adverse Contracts, Etc. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate or
other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers
has or is expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party
to any contract or agreement which in the judgment of the Company’s officers has or is expected to have a Material Adverse
Effect.

 

l.        Tax
Status. The Company and each of its Subsidiaries has made or filed all federal, state and foreign income and all other tax
returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that the Company
and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment of all unpaid and unreported
taxes) and has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to
be due on such returns, reports and declarations, except those being contested in good faith and has set aside on its books provisions
reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations
apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the
officers of the Company know of no basis for any such claim. The Company has not executed a waiver with respect to the statute
of limitations relating to the assessment or collection of any foreign, federal, state or local tax. None of the Company’s
tax returns is presently being audited by any taxing authority.

 

    9 

     

    

 

m.      Certain
Transactions. Except for arm’s length transactions pursuant to which the Company or any of its Subsidiaries makes payments
in the ordinary course of business upon terms no less favorable than the Company or any of its Subsidiaries could obtain from third
parties and other than the grant of stock options disclosed on Schedule 3(c), none of the officers, directors, or employees of
the Company is presently a party to any transaction with the Company or any of its Subsidiaries (other than for services as employees,
officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or
by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director
or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other entity in which any officer,
director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

 

n.       Disclosure.
All information relating to or concerning the Company or any of its Subsidiaries set forth in this Agreement and provided to the
Buyer pursuant to Section 2(d) hereof and otherwise in connection with the transactions contemplated hereby is true and correct
in all material respects and the Company has not omitted to state any material fact necessary in order to make the statements made
herein or therein, in light of the circumstances under which they were made, not misleading. No event or circumstance has occurred
or exists with respect to the Company or any of its Subsidiaries or its or their business, properties, prospects, operations or
financial conditions, which, under applicable law, rule or regulation, requires public disclosure or announcement by the Company
but which has not been so publicly announced or disclosed (assuming for this purpose that the Company’s reports filed under
the 1934 Act are being incorporated into an effective registration statement filed by the Company under the 1933 Act).

 

o.       Acknowledgment
Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely in the capacity
of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges
that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this
Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of its respective representatives
or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation and is merely
incidental to the Buyer’ purchase of the Securities. The Company further represents to the Buyer that the Company’s
decision to enter into this Agreement has been based solely on the independent evaluation of the Company and its representatives.

 

p.       No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would
require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities to the Buyer
will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes of any
shareholder approval provisions applicable to the Company or its securities.

 

    10 

     

    

 

q.       No
Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions, transaction
fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

r.        Permits;
Compliance. The Company and each of its Subsidiaries is in possession of all franchises, grants, authorizations, licenses,
permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and operate its
properties and to carry on its business as it is now being conducted (collectively, the “Company Permits”), and there
is no action pending or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of the Company
Permits. Neither the Company nor any of its Subsidiaries is in conflict with, or in default or violation of, any of the Company
Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect. Since March 31, 2017, neither the Company nor any of its Subsidiaries has received
any notification with respect to possible conflicts, defaults or violations of applicable laws, except for notices relating to
possible conflicts, defaults or violations, which conflicts, defaults or violations would not have a Material Adverse Effect.

 

s.       Environmental
Matters.

 

(i)       There
are, to the Company’s knowledge, with respect to the Company or any of its Subsidiaries or any predecessor of the Company,
no past or present violations of Environmental Laws (as defined below), releases of any material into the environment, actions,
activities, circumstances, conditions, events, incidents, or contractual obligations which may give rise to any common law environmental
liability or any liability under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 or similar federal,
state, local or foreign laws and neither the Company nor any of its Subsidiaries has received any notice with respect to any of
the foregoing, nor is any action pending or, to the Company’s knowledge, threatened in connection with any of the foregoing.
The term “Environmental Laws” means all federal, state, local or foreign laws relating to pollution or protection of
human health or the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface
strata), including, without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants
contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”) into the environment,
or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of
Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments, licenses,
notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

 

    11 

     

    

 

(ii)      Other
than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained
on or about any real property currently owned, leased or used by the Company or any of its Subsidiaries, and no Hazardous Materials
were released on or about any real property previously owned, leased or used by the Company or any of its Subsidiaries during the
period the property was owned, leased or used by the Company or any of its Subsidiaries, except in the normal course of the Company’s
or any of its Subsidiaries’ business.

 

(iii)     There
are no underground storage tanks on or under any real property owned, leased or used by the Company or any of its Subsidiaries
that are not in compliance with applicable law.

 

t.        Title
to Property. Except as disclosed in the SEC Documents the Company and its Subsidiaries have good and marketable title in fee
simple to all real property and good and marketable title to all personal property owned by them which is material to the business
of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects or such as would not have
a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them
under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

 

u.       Internal
Accounting Controls. Except as disclosed in the SEC Documents the Company and each of its Subsidiaries maintain a system of
internal accounting controls sufficient, in the judgment of the Company’s board of directors, to provide reasonable assurance
that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions
are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles
and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or
specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals
and appropriate action is taken with respect to any differences.

 

v.        Foreign
Corrupt Practices. Neither the Company, nor any of its Subsidiaries, nor any director, officer, agent, employee or other
person acting on behalf of the Company or any Subsidiary has, in the course of his actions for, or on behalf of, the Company,
used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political
activity; made any direct or indirect unlawful payment to any foreign or domestic government official or employee from
corporate funds; violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended,
or made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic
government official or employee.

 

    12 

     

    

 

w.       [Intentionally
Omitted].

 

x.        No
Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement
will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

y.      
Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in
which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to believe that
it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from
similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written
request the Company will provide to the Buyer true and correct copies of all policies relating to directors’ and officers’
liability coverage, errors and omissions coverage, and commercial general liability coverage.

 

z.        Bad
Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended on the
basis of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance Guide published
by the SEC.

 

aa.      Shell Status.
The Company represents that it is not a “shell” issuer and has never been a “shell” issuer, or that if
it previously has been a “shell” issuer, that at least twelve (12) months have passed since the Company has reported
Form 10 type information indicating that it is no longer a “shell” issuer. Further, the Company will instruct its counsel
to either (i) write a 144- 3(a)(9) opinion to allow for salability of the Conversion Shares or (ii) accept such opinion from Holder’s
counsel.

 

bb.    No-Off Balance
Sheet Arrangements. There is no transaction, arrangement, or other relationship between the Company or any of its Subsidiaries
and an unconsolidated or other off balance sheet entity that is required to be disclosed by the Company in its 1934 Act filings
and is not so disclosed or that otherwise could be reasonably likely to have a Material Adverse Effect.

 

cc.      Manipulation
of Price. The Company has not, and to its knowledge no one acting on its behalf has: (i) taken, directly or indirectly, any
action designed to cause or to result, or that could reasonably be expected to cause or result, in the stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased,
or paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any person any compensation
for soliciting another to purchase any other securities of the Company.

 

    13 

     

    

 

dd.    Sarbanes-Oxley
Act. The Company and each Subsidiary is in material compliance with all applicable requirements of the Sarbanes-Oxley Act of
2002 that are effective as of the date hereof, and all applicable rules and regulations promulgated by the SEC thereunder that
are effective as of the date hereof.

 

ee.     Employee
Relations. Neither the Company nor any of its Subsidiaries is a party to any collective bargaining agreement or employs any
member of a union. The Company believes that its and its Subsidiaries’ relations with their respective employees are good.
No executive officer (as defined in Rule 501(f) promulgated under the 1933 Act) or other key employee of the Company or any of
its Subsidiaries has notified the Company or any such Subsidiary that such officer intends to leave the Company or any such Subsidiary
or otherwise terminate such officer’s employment with the Company or any such Subsidiary. To the knowledge of the Company,
no executive officer or other key employee of the Company or any of its Subsidiaries is, or is now expected to be, in violation
of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement, non-competition
agreement, or any other contract or agreement or any restrictive covenant, and the continued employment of each such executive
officer or other key employee (as the case may be) does not subject the Company or any of its Subsidiaries to any liability with
respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance with all federal, state, local and
foreign laws and regulations respecting labor, employment and employment practices and benefits, terms and conditions of employment
and wages and hours, except where failure to be in compliance would not, either individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect.

 

ff.      Breach of
Representations and Warranties by the Company. The Company agrees that if the Company breaches any of the representations or
warranties set forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement
and it being considered an Event of Default under Section 3.5 of the Note, the Company shall pay to the Buyer the Standard Liquidated
Damages Amount in cash or in shares of Common Stock at the option of the Company, until such breach is cured. If the Company elects
to pay the Standard Liquidated Damages Amounts in shares of Common Stock, such shares shall be issued at the Conversion Price at
the time of payment.

 

4.        COVENANTS.

 

a.       Best
Efforts. The parties shall use their commercially reasonable best efforts to satisfy timely each of the conditions described
in Section 7 and 8 of this Agreement.

 

    14 

     

    

 

b.       Form
D; Blue Sky Laws. The Company agrees to file a Form D with respect to the Securities as required under Regulation D and to
provide a copy thereof to the Buyer promptly after such filing. The Company shall, on or before the Closing Date, take such action
as the Company shall reasonably determine is necessary to qualify the Securities for sale to the Buyer at the applicable closing
pursuant to this Agreement under applicable securities or “blue sky” laws of the states of the United States (or to
obtain an exemption from such qualification), and shall provide evidence of any such action so taken to the Buyer on or prior to
the Closing Date.

 

c.       Use
of Proceeds. The Company shall use the proceeds from the sale of the Note for working capital and other general corporate purposes
and shall not, directly or indirectly, use such proceeds for any loan to or investment in any other corporation, partnership, enterprise
or other person (except in connection with its currently existing direct or indirect Subsidiaries).

 

d.       [Intentionally
Omitted].

 

e.       Expenses.
The Company shall reimburse Buyer for any and all expenses incurred by them in connection with the negotiation, preparation, execution,
delivery and performance of this Agreement and the other agreements to be executed in connection herewith (“Documents”),
including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, transfer agent fees, fees
for stock quotation services, fees relating to any amendments or modifications of the Documents or any consents or waivers of provisions
in the Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring the transactions contemplated
by the Documents. When possible, the Company must pay these fees directly, including, but not limited to, any and all wire fees,
otherwise the Company must make immediate payment for reimbursement to the Buyer for all fees and expenses immediately upon written
notice by the Buyer or the submission of an invoice by the Buyer. At Closing, the Company’s initial obligation with respect
to this transaction is to reimburse Buyer’s legal expenses shall be $2,750.00 plus the cost of wire fees.

 

f.        Financial
Information. The Company agrees to send or make available the following reports to the Buyer until the Buyer transfers, assigns,
or sells all of the Securities: (i) within ten (10) days after the filing with the SEC, a copy of its Annual Report on Form 10-K
its Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K; (ii) within one (1) day after release, copies of all press
releases issued by the Company or any of its Subsidiaries; and (iii) contemporaneously with the making available or giving to the
shareholders of the Company, copies of any notices or other information the Company makes available or gives to such shareholders.
For the avoidance of doubt, filing the documents required in (i) above via EDGAR or releasing any documents set forth in (ii) above
via a recognized wire service shall satisfy the delivery requirements of this Section 4(f).

 

    15 

     

    

 

g.       Listing.
The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange or automated quotation
system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and, so long as the
Buyer owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so listed, such listing
of all Conversion Shares from time to time issuable upon conversion of the Note. The Company will obtain and, so long as the Buyer
owns any of the Securities, maintain the listing and trading of its Common Stock on the OTC Pink, OTCQB or any equivalent replacement
exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap Market (“Nasdaq SmallCap”), the New
York Stock Exchange (“NYSE”), or the NYSE MKT and will comply in all respects with the Company’s reporting, filing
and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority (“FINRA”) and such exchanges,
as applicable. The Company shall promptly provide to the Buyer copies of any material notices it receives from the OTC Pink, OTCQB
and any other exchanges or quotation systems on which the Common Stock is then listed regarding the continued eligibility of the
Common Stock for listing on such exchanges and quotation systems. The Company shall pay any and all fees and expenses in connection
with satisfying its obligation under this Section 4(g).

 

h.       Corporate
Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall not
sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or
substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s
obligations hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly traded
corporation whose Common Stock is listed for trading on the OTC Pink, OTCQB, Nasdaq, NasdaqSmallCap, NYSE or AMEX.

 

i.        No
Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of the
Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval provision
applicable to the Company or its securities.

 

j.        Failure
to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the reporting requirements
of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934 Act.

 

k.       Trading
Activities. Neither the Buyer nor its affiliates has an open short position (or other hedging or similar transactions) in the
common stock of the Company and the Buyer agree that it shall not, and that it will cause its affiliates not to, engage in any
short sales of or hedging transactions with respect to the common stock of the Company.

 

    16 

     

    

 

l.        Restriction
on Activities. Commencing as of the date first above written, and until the sooner of the six month anniversary of the date
first written above or payment of the Note in full, or full conversion of the Note, the Company shall not, directly or indirectly,
without the Buyer’s prior written consent, which consent shall not be unreasonably withheld: (a) change the nature of its
business; (b) sell, divest, acquire, change the structure of any material assets other than in the ordinary course of business;
or (c) solicit any offers for, respond to any unsolicited offers for, or conduct any negotiations with any other person or entity
in respect of any variable rate debt transactions (i.e., transactions were the conversion or exercise price of the security issued
by the Company varies based on the market price of the Common Stock) above $500,000 (per variable rate debt transaction), whether
a transaction similar to the one contemplated hereby or any other investment, during the 60 day period after the issuance of the
Note.

 

m.      Legal
Counsel Opinions. Upon the request of the Buyer from to time to time, the Company shall be responsible (at its cost) for promptly
supplying to the Company’s transfer agent and the Buyer a customary legal opinion letter of its counsel (the “Legal
Counsel Opinion”) to the effect that the sale of Conversion Shares by the Buyer or its affiliates, successors and assigns
is exempt from the registration requirements of the 1933 Act pursuant to Rule 144 (provided the requirements of Rule 144 are satisfied
and provided the Conversion Shares are not then registered under the 1933 Act for resale pursuant to an effective registration
statement). Should the Company’s legal counsel fail for any reason to issue the Legal Counsel Opinion, the Buyer may (at
the Company’s cost) secure another legal counsel to issue the Legal Counsel Opinion, and the Company will instruct its transfer
agent to accept such opinion.

 

n.       Par
Value. If the closing bid price at any time the Note is outstanding falls below $0.001, the Company shall cause the par value
of its Common Stock to be reduced to $0.0001 or less.

 

o.       Breach
of Covenants. The Company agrees that if the Company breaches any of the covenants set forth in this Section 4, and in addition
to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an Event of Default under Section
3.4 of the Note, the Company shall pay to the Buyer the Standard Liquidated Damages Amount in cash or in shares of Common Stock
at the option of the Buyer, until such breach is cured, or with respect to Section 4(d) above, the Company shall pay to the Buyer
the Standard Liquidated Damages Amount in cash or shares of Common Stock, at the option of the Buyer, upon each violation of such
provision. If the Company elects to pay the Standard Liquidated Damages Amounts in shares of Common Stock, such shares shall be
issued at the Conversion Price at the time of payment.

 

5.        Transaction
Expense Amount. The Company shall pay Twelve Thousand Five Hundred and No/100 United States Dollars (US$12,500.00) to Auctus
Fund Management, LLC (“Auctus Management”) to cover the Holder’s due diligence, monitoring, and other transaction
costs incurred for services rendered in connection herewith (the “Transaction Expense Amount”). The Transaction Expense
Amount shall be offset against the proceeds of the Note, with the understanding that $8,333.33 of the Transaction Expense Amount
shall be paid to Auctus Management upon closing of the first tranche of $100,000.00, and $4,166.67 of the Transaction Expense Amount
shall be paid to Auctus Management upon closing of the second tranche of $50,000.00.

 

    17 

     

    

 

6.        Transfer
Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent to issue certificates, registered
in the name of the Buyer or its nominee, for the Conversion Shares in such amounts as specified from time to time by the Buyer
to the Company upon conversion of the Note in accordance with the terms thereof (the “Irrevocable Transfer Agent Instructions”).
In the event that the Borrower proposes to replace its transfer agent, the Borrower shall 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. Prior to registration of the Conversion Shares under the 1933
Act or the date on which the Conversion Shares may be sold pursuant to Rule 144 without any restriction as to the number of Securities
as of a particular date that can then be immediately sold, all such certificates shall bear the restrictive legend specified in
Section 2(g) of this Agreement. The Company warrants that: (i) no instruction other than the Irrevocable Transfer Agent Instructions
referred to in this Section, and stop transfer instructions to give effect to Section 2(f) hereof (in the case of the Conversion
Shares, prior to registration of the Conversion Shares under the 1933 Act or the date on which the Conversion Shares may be sold
pursuant to Rule 144 without any restriction as to the number of Securities as of a particular date that can then be immediately
sold), will be given by the Company to its transfer agent and that the Securities shall otherwise be freely transferable on the
books and records of the Company as and to the extent provided in this Agreement and the Note; (ii) it will not direct its transfer
agent not to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing)(electronically or in certificated
form) any certificate for Conversion Shares to be issued to the Buyer upon conversion of or otherwise pursuant to the Note as and
when required by the Note and this Agreement; and (iii) it will not fail 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 Conversion Shares issued to the Buyer upon conversion of or otherwise pursuant to
the Note as and when required by the Note and this Agreement. Nothing in this Section shall affect in any way the Buyer’s
obligations and agreement set forth in Section 2(g) hereof to comply with all applicable prospectus delivery requirements, if any,
upon re-sale of the Securities. If the Buyer provides the Company, at the cost of the Company, with (i) an opinion of counsel in
form, substance and scope customary for opinions in comparable transactions, to the effect that a public sale or transfer of such
Securities may be made without registration under the 1933 Act and such sale or transfer is effected or (ii) the Buyer provides
reasonable assurances that the Securities can be sold pursuant to Rule 144, the Company shall permit the transfer, and, in the
case of the Conversion Shares, promptly instruct its transfer agent to issue one or more certificates, free from restrictive legend,
in such name and in such denominations as specified by the Buyer. The Company acknowledges that a breach by it of its obligations
hereunder will cause irreparable harm to the Buyer, by vitiating the intent and purpose of the transactions contemplated hereby.
Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations under this Section may be inadequate
and agrees, in the event of a breach or threatened breach by the Company of the provisions of this Section, that the Buyer shall
be entitled, in addition to all other available remedies, to an injunction restraining any breach and requiring immediate transfer,
without the necessity of showing economic loss and without any bond or other security being required.

 

    18 

     

    

 

7.        CONDITIONS
PRECEDENT TO THE COMPANY’S OBLIGATIONS TO SELL. The obligation of the Company hereunder to issue and sell the Note to
the Buyer at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions thereto,
provided that these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole
discretion:

 

a.       The
Buyer shall have executed this Agreement and delivered the same to the Company.

 

b.       The
Buyer shall have delivered the Purchase Price in accordance with Section 1(b) above.

 

c.       The
representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and as
of the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date), and
the Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

d.       No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

8.        CONDITIONS
PRECEDENT TO THE BUYER’S OBLIGATION TO PURCHASE. The obligation of the Buyer hereunder to purchase the Note at the Closing
is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions
are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a.       The
Company shall have executed this Agreement and delivered the same to the Buyer.

 

    19 

     

    

 

b.       The
Company shall have delivered to the Buyer the duly executed Note (in such denominations as the Buyer shall request) and in accordance
with Section 1(b) above.

 

c.       The
Irrevocable Transfer Agent Instructions, in form and substance satisfactory to a majority-in-interest of the Buyer, shall have
been delivered to and acknowledged in writing by the Company’s Transfer Agent.

 

d.       The
representations and warranties of the Company shall be true and correct in all material respects as of the date when made and as
of the Closing Date as though made at such time (except for representations and warranties that speak as of a specific date) and
the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. The Buyer
shall have received a certificate or certificates, executed by the chief executive officer of the Company, dated as of the Closing
Date, to the foregoing effect and as to such other matters as may be reasonably requested by the Buyer including, but not limited
to certificates with respect to the Company’s Certificate of Incorporation, By-laws and Board of Directors’ resolutions
relating to the transactions contemplated hereby.

 

e.       No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

f.        No
event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but not
limited to a change in the 1934 Act reporting status of the Company or the failure of the Company to be timely in its 1934 Act
reporting obligations.

 

g.       The
Conversion Shares shall have been authorized for quotation on the OTC Pink, OTCQB or any similar quotation system and trading in
the Common Stock on the OTC Pink, OTCQB or any similar quotation system shall not have been suspended by the SEC or the OTC Pink,
OTCQB or any similar quotation system.

 

h.       The
Buyer shall have received an officer’s certificate described in Section 3(c) above, dated as of the Closing Date.

 

    20 

     

    

 

9.        GOVERNING
LAW; MISCELLANEOUS.

 

a.       Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard to
principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement, the Note or any other agreement, certificate, instrument or document contemplated hereby shall be brought only
in the state courts of Massachusetts or in the federal courts located in the state of Massachusetts. The parties to this Agreement
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. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT
IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR UNDER ANY OTHER TRANSACTION
DOCUMENT OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR ANY TRANSACTION CONTEMPLATED
HEREBY OR THEREBY. 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 Agreement 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 Agreement or any other Transaction Document 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 Agreement
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.

 

b.       Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each
party and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto by
facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c.       Construction;
Headings. This Agreement shall be deemed to be jointly drafted by the Company and the Buyer and shall not be construed against
any person as the drafter hereof. The headings of this Agreement are for convenience of reference only and shall not form part
of, or affect the interpretation of, this Agreement.

 

    21 

     

    

 

d.       Severability.
In the event that any provision of this Agreement 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 provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

e.       Entire
Agreement; Amendments. This Agreement, the Note and the instruments referenced herein contain the entire understanding of the
parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither
the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision
of this Agreement may be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

f.        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, email, 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 email or 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
Company, to:

 

Code Green Apparel Corp.

31642 Pacific Coast Highway, Suite 102

Laguna Beach, CA 92651

Attn: George
J. Powell, III

E-mail:
george@codegreenapparel.com

 

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

 

The Loev Law Firm,
PC

 6300 West Loop
South, Suite 280

 Bellaire,
TX 77401

 E-mail:
dloev@loevlaw.com

 

    22 

     

    

 

 If
to the Buyer:

 

Auctus Fund,
LLC

101 Arch
Street, 20th Floor 

Boston, MA
02110

Attn: Lou Posner 

Facsimile:
(617) 532-6420

 

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

  

Chad Friend,
Esq., LL.M. 

Legal &
Compliance, LLC

330 Clematis
Street, Suite 217 

West Palm
Beach, FL 33401

E-mail: CFriend@LegalandCompliance.com

 

Each party shall provide
notice to the other party of any change in address.

 

g.       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, subject to Section 2(f), the Buyer may assign its rights hereunder to any
person that purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that term
is defined under the 1934 Act, without the consent of the Company.

 

h.       Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.        Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the
closing hereunder not withstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to
indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result
of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants set forth
in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as they are incurred.

 

    23 

     

    

 

j.        Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

k.       No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

l.        Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by
the Company of the provisions of this Agreement, that the Buyer 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 Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

m.      Publicity.
The Company, and the Buyer shall have the right to review a reasonable period of time before issuance of any press releases, SEC,
OTCQB or FINRA filings, or any other public statements with respect to the transactions contemplated hereby; provided, however,
that the Company shall be entitled, without the prior approval of the Buyer, to make any press release or SEC, OTCQB (or other
applicable trading market) or FINRA filings with respect to such transactions as is required by applicable law and regulations
(although the Buyer shall be consulted by the Company in connection with any such press release prior to its release and shall
be provided with a copy thereof and be given an opportunity to comment thereon).

 

    24 

     

    

 

n.       Indemnification.
In consideration of the Buyer’s execution and delivery of this Agreement and acquiring the Securities hereunder, and in addition
to all of the Company’s other obligations under this Agreement or the Note, the Company shall defend, protect, indemnify
and hold harmless the Buyer and its stockholders, partners, members, officers, directors, employees and direct or indirect investors
and any of the foregoing persons’ agents or other representatives (including, without limitation, those retained in connection
with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”) from and against any and all
actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith
(irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including
reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a
result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the
Company in this Agreement or the Note or any other agreement, certificate, instrument or document contemplated hereby or thereby,
(b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement or the Note or any other agreement,
certificate, instrument or document contemplated hereby or thereby or (c) any cause of action, suit or claim brought or made against
such Indemnitee by a third party (including for these purposes a derivative action brought on behalf of the Company) and arising
out of or resulting from (i) the execution, delivery, performance or enforcement of this Agreement or the Note or any other agreement,
certificate, instrument or document contemplated hereby or thereby, (ii) any transaction financed or to be financed in whole or
in part, directly or indirectly, with the proceeds of the issuance of the Securities, or (iii) the status of the Buyer or holder
of the Securities as an investor in the Company pursuant to the transactions contemplated by this Agreement. To the extent that
the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to
the payment and satisfaction of each of the Indemnified Liabilities that is permissible under applicable law

 

[signature page follows]

 

    25 

     

    

 

IN WITNESS WHEREOF,
the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

CODE
GREEN APPAREL CORP.

	 	 	 	 
	By:	/s/ George J. Powell, III	 
	Name:	George J. Powell, III	 
	Title:	Chief Executive Officer	 

  

AUCTUS FUND, LLC

	 	 	 	 
	By:	/s/ Lou Posner	 
	Name:	Lou Posner	 
	Title:	Managing Director	 

 

	AGGREGATE SUBSCRIPTION
    AMOUNT:	 	 	 
	 	 	 	 
	Aggregate
    Principal Amount of Note:	 	US$150,000.00	 
	 	 	 	 
	Aggregate Purchase Price:	 	US$150,000.00	*

 

*The purchase price of $100,000.00, relating
to the first tranche of $100,000.00, shall be paid within a reasonable amount of time after the full execution of the Note and
related transaction documents. Additional tranches may be funded by the Buyer in accordance with the terms of the Note.

 

    26

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