Document:

EX-10.13

 Exhibit 10.13 

CENTREXION THERAPEUTICS CORPORATION 

September 19th, 2018 
 Andrew Partridge 

[***] 
 Dear Andrew: 

I am pleased to confirm our employment offer to you to join Centrexion Therapeutics Corporation (the “Company”) as Chief
Commercial Officer and Executive Vice President. Your employment with the Company will be effective on or before [11/8], 2018 (the “Start Date”). As Chief Commercial Officer and Executive Vice President, you will perform the duties
and responsibilities customary for such positions, and such other duties consistent with such positions, as may be assigned to you from time to time by the Company’s Chief Executive Officer or his designee. By accepting this offer of
employment, you agree to devote your full business time, ability, knowledge, and attention solely to the Company’s business affairs. 

Your initial base salary will be at the rate of $400,000 per annum and paid in accordance with our normal payroll practices and prorated for
any partial year of employment. In addition, you will be eligible to participate in our annual bonus programs (as shall be established by our board of directors (or a duly authorized committee thereof) (the “Board”) from time to
time) with a target bonus of no less than 50% of your base salary and a maximum bonus opportunity of 100% of your base salary. The annual bonus will be prorated for any partial year of employment and subject to continued employment with the Company
through the date of payment. The annual bonus typically consists of corporate and individual goals. As determined by the Company in its sole discretion, the annual bonus may be payable to you in the form of cash or equity (including options to
purchase shares of the Company’s common stock) or a combination thereof. You will also be entitled to paid vacation (not less than five (5) weeks annually) and will be eligible to participate in employee benefit plans, programs and
arrangements of the Company (including the Company’s medical plan), in accordance with the terms and eligibility requirements of such programs in effect from time to time, which we may modify or terminate at any time. All forms of compensation
referred to in this offer letter, or otherwise payable to you by the Company, are subject to reduction to reflect applicable withholding and payroll taxes. 

On or within 15 days following the Start Date, subject to approval by the Board, you will be granted an option (the “Sign-On Option”) under the Company’s 2013 Equity Incentive Plan, as it may be amended from time to time (the “Plan”), to purchase shares of the Company’s common stock representing
approximately 1.3% of the fully-diluted number of shares of the Company’s common stock outstanding upon the grant date at an exercise price per share equal to the fair market value of a share of the Company’s common stock on the date of
grant, which will be determined by the Board, provided that the number of shares subject to the Sign-On Option shall be reasonably adjusted, as determined by the Board, in the event that the exercise price per
share on the date of grant exceeds $1.33. The Sign-On Option will be subject to the terms of the Plan and an option award agreement thereunder, and will vest (subject to your continued service through the
applicable vesting date) as to 25% of the underlying shares on the first anniversary of the Start Date and as to the remaining underlying shares in twelve (12) equal quarterly installments thereafter. Beginning in 2019, you will be eligible for
competitive annual equity grants consistent with Company practices and in the Board’s discretion. 

  
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 A sign on bonus of $75,000 (the “Sign-On
Bonus”) will be paid to you within fifteen (15) days following the Start Date. However, if your employment with the Company is terminated within eighteen (18) months following your Start Date, you must repay the Sign-On Bonus within one (1) month of your termination of employment unless your employment is terminated by the Company without Cause (as defined below) or you resign for Good Reason (as defined below). 

Subject to your continued employment with the Company on the thirtieth (30th) day following the occurrence of the Initial Public Offering (as
defined in the Plan) (the “IPO Service Date”) or your termination of employment by the Company without Cause or your resignation for Good Reason, in either case, following the occurrence of the Initial Public Offering but before the
IPO Service Date, an additional cash bonus of $75,000 (the “IPO Bonus”) will be paid to you on or within five (5) days following the IPO Service Date. However, if your employment with the Company is terminated within eighteen
(18) months following the payment of the IPO Bonus, you must repay the IPO Bonus within one (1) month of your termination of employment unless your employment is terminated by the Company without Cause or you resign for Good Reason. 

You will also be eligible for an additional cash bonus (the “Make-Up Bonus”) in an
amount determined by the Board, which amount will be based 75% on the annual cash bonus you would have received in respect of 2018 under the annual cash bonus program of Vertex Pharmaceuticals Incorporated (“Vertex”) if you remained
employed through 2018 with Vertex (the “Vertex Component”) and 25% on the performance of the Company during the fourth quarter of 2018. The Vertex Component shall be determined by multiplying (X) your 2018 annual target bonus
under Vertex’s annual cash bonus program by (Y) the company performance factor achieved by Vertex in 2018, as described in Vertex’s 2019 Proxy Statement by (Z) your individual performance factor achieved for 2017
under Vertex’s annual cash bonus program. The Make-Up Bonus, if any, will be paid to you in 2019, subject to your continued service through the date of such payment. 

The Company will reimburse you for all ordinary and reasonable
out-of-pocket business expenses incurred by you during your employment in furtherance of the Company’s business in accordance with the Company’s policies with
respect thereto as in effect from time to time. 
 Your employment is at will and this offer letter does not guarantee your employment with
the Company for a specific length of time. Therefore, neither you nor the Company is making a commitment to the other to continue an employment relationship, which may be terminated by either of us at any time by written notice for any reason or no
reason, subject only to the terms of this offer letter. 
 If, your employment is terminated by the Company without Cause or you resign for
Good Reason, provided that you execute and do not revoke, within sixty (60) days following your employment termination, a release of claims that is provided to you by the Company, and further provided that you are in continued compliance with
your obligations under the Restrictive Covenant Agreement (defined below), you will be entitled to receive (i) base salary continuation payments in accordance with the regular payroll practices of the Company for a period of twelve
(12) months following your employment termination (the “Continuation Period”), (ii) any unpaid bonus earned for the year preceding the date of your employment termination, payable at the time it otherwise would have been paid
had your employment with the Company not terminated, and (iii) if you elect to receive continued medical, dental or vision coverage under the Company’s group healthcare plans pursuant to the Consolidated Omnibus Budget Reconciliation Act
of 1985, as amended (“COBRA”), direct payment to the carrier for or reimbursement to you for the premium rate necessary for you, your spouse and eligible dependents to receive such continuation coverage during the period commencing
on the date of termination of your employment with the Company and ending upon the earliest of (x) the last day of the Continuation Period, (y) the date that you and/or your covered spouse and/or dependents become no longer eligible for
COBRA or (z) the date you become eligible to receive healthcare coverage from a subsequent employer (and you agree to promptly notify the Company of such eligibility). Notwithstanding the foregoing, any payments payable to you hereunder during
the sixty (60) 

  
 2 

 
day period following your employment termination shall be made to you on the first regular payroll date occurring immediately after the sixtieth
(60th) day following your employment termination. The Company will provide you its standard form of release of claims within seven (7) days following your employment termination. You shall be
under no obligation to seek other employment and there shall be no offset against amounts due to you on account of any remuneration or benefits from any subsequent employment you may obtain or other services that you may provide following the date
of your employment termination. 
 If your employment by the Company is terminated by the Company without Cause, or by you for Good Reason,
in either case on or within twelve (12) months immediately following a Change in Control (as defined in the Plan), then the Company shall pay or provide to you with the amounts in clauses (i) through (iii) above; provided that
(a) the Continuation Period shall be increased to a total of eighteen (18) months following your employment termination and (b) the Sign-On Option and any other Company equity awards, to the
extent outstanding and unvested, then held by you shall become fully vested and become exercisable (provided that the vesting of any performance based equity awards shall be based on actual performance, unless otherwise provided in the award).
Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any amount which constitutes or provides for the deferral of compensation and is subject to Section 409A of the Code (as defined below), the
transaction or event with respect to such amount must also constitute a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Section 409A of the Code. 

For purposes of this offer letter, “Cause” shall mean: (i) your indictment or conviction, or your entry of a pleading of
guilty or no contest, with respect to a felony or another crime involving fraud, dishonesty or moral turpitude, (ii) your willful misconduct or gross negligence in the performance of your duties to the Company (or any of its subsidiaries or
affiliates), (iii) your willful failure or refusal to (A) follow policies or the lawful directives established by the Company’s Chief Executive Officer or the Board or (B) perform your duties or obligations hereunder (other than any
such failure or refusal resulting from your physical or mental incapacity) which is not cured or remedied within five (5) business days following receipt by you of written notice from the Company detailing the failure or refusal, (iv) any
act of fraud, embezzlement, theft or dishonesty by you in the course of your employment with the Company (or any of its subsidiaries or affiliates), (v) your material breach of this offer letter or any other agreement with the Company (or any of its
subsidiaries or affiliates), including, without limitation, the Restrictive Covenant Agreement, which breach, if curable, is not cured or remedied within ten (10) days following receipt by you from the Company of written notice detailing the
breach (provided that any breach by you of any provision of the Restrictive Covenant Agreement shall not be deemed curable), or (vi) your failure to comply in any material respect with applicable laws with respect to the operation of the
business of the Company (or any of its subsidiaries or affiliates) (unless such non-compliance results from a directive of the Board or the Company’s Chief Executive Officer or is based upon advice from
the Company’s counsel). 
 For purposes of this offer letter, “Good Reason” shall mean the occurrence of any of the
following without your prior written consent: (i) a material breach by the Company of this offer letter, (ii) a material reduction in your base salary or bonus opportunities (other than in connection with an
across-the-board salary or bonus opportunity reduction of not more than 10% affecting all similarly situated employees of the Company), (iii) a material diminution in
your title, authority, duties or responsibilities with the Company or any successor entity, or (iv) the relocation of the Company’s headquarters to a location that is more than 35 miles outside of Boston, Massachusetts. Any event described
in (i) through (iv) shall not constitute Good Reason unless (A) you have provided the Company a written notice of termination detailing the alleged event constituting Good Reason within sixty (60) days of the first occurrence of such
event, (B) the Company fails to cure or remedy such event within thirty (30) days following delivery of such notice, and (C) you in fact resign within thirty (30) days after the expiration of such cure period. 

  
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 You acknowledge your obligations to comply with the Company’s policies and procedures,
including any Code of Conduct or Ethics and other compliance guidelines as may be in effect from time to time. As a condition of employment and the effectiveness of this offer letter, you will also be required to (1) sign and return a
satisfactory I-9 Immigration form and provide proof of your identity and eligibility to work in the United States at the time of commencement of your employment under the Immigration Reform and Control Act of
1986 and (2) provide satisfactory proof of your identity as required by U.S. law. 
 The parties hereto acknowledge and agree that this
offer letter and the payments and benefits herein, are intended to comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and shall be interpreted accordingly. In no event
whatsoever shall the Company be liable for any additional tax, interest or penalties that may be imposed on you as a result of Section 409A of the Code. For purposes of Code Section 409A, your right to receive any installment payments
pursuant to this offer letter shall be treated as a right to receive a series of separate and distinct payments. Notwithstanding anything in this offer letter to the contrary, any compensation or benefit payable under this offer letter upon your
termination of employment shall be payable only upon your “separation from service” with the Company within the meaning of Code Section 409A (a “Separation from Service”). If you are a “specified employee”
(within the meaning of Code Section 409A) as of your Separation from Service, payment of any amounts under this offer letter (or under any severance arrangement pursuant to this offer letter) which the Company determines constitute the payment
of nonqualified deferred compensation (within the meaning of Code Section 409A) and which would otherwise be paid upon your separation from service shall not be paid before the date that is six months after the date of your separation from
service and any amounts that cannot be paid by reason of this limitation shall be accumulated and paid on the first day of the seventh month following the date of your Separation from Service. 

To the extent permitted by applicable law, you will keep confidential and not disclose to any person other than your spouse, your accountant,
your financial advisor and your lawyer the economic provisions of your employment arrangements. 
 By agreeing below, you represent and
warrant to the Company that you have no restrictions on your activities from current or former employers (other than confidentiality) that would limit you joining the Company or in the performance of your duties for it. 

This offer letter (together with the Restrictive Covenant Agreement) constitutes the complete agreement between you and the Company with
respect to the subject matter hereof, and supersedes any prior understandings or agreements with respect thereto. This offer letter may not be amended, modified or terminated except by an instrument in writing, signed by you and an authorized
officer of the Company. Any waiver of any compliance with any provision of this offer letter shall not operate as a waiver of, or estoppel with respect to, any other or subsequent non-compliance. This offer
letter will be interpreted and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to any conflicts of laws principles that would result in the application of any other law, and may be executed in counterparts,
each of which shall deemed an original and all of which together will constitute one and the same instrument. 
 If the terms of your
employment as outlined above are acceptable, please indicate by signing and dating below. Please return this offer letter to me together with the enclosed Employee Non-Competition, Non-Solicitation, Confidentiality and Assignment Agreement (execution of which is a condition of employment) (the “Restrictive Covenant Agreement”). 

  
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	Sincerely,
	
	Centrexion Therapeutics Corporation
		
	By:	 	 /s/ Jeffrey Kindler

	Name: Jeffrey Kindler
	Its: Chief Executive Officer
	
	Agreed and Acknowledged,
	
	 /s/ Andrew Partridge

	Name: Andrew Partridge

  
 5imle_ex101.htm

EXHIBIT 10.1
 
DEBT CONVERSION AND COMMON STOCK 
PURCHASE AGREEMENT
 
This Debt Conversion Common Stock Purchase Agreement (this “Agreement”) is made and entered into effective as of the 23rd day of August, 2019 (the “Effective Date”) by and between TransBiotec, Inc., a Delaware corporation (the “Company”), and Devadatt Mishal, an individual (the “Purchaser”). The Company and Purchaser shall each be referred to as a “Party” and collectively as the “Parties.”
 
RECITALS
 
WHEREAS, beginning on August 6, 2014, the Purchaser began loaning the Company money for a variety of purposes pursuant to the terms of Loan Agreement with Promissory Note and Stock Fees (the “Notes”), which entitled the Purchaser to both the repayment of the principal amount loaned to the Company, with interest, and what was termed in the Notes as a “Stock Fee”;
 
WHEREAS, the Stock Fee allows the Purchaser to acquire a certain number of shares of the Company’s common stock, with the number of shares and the purchase price determined by the loan amount for each Note and the Company’s stock price on the date of the Note;
 
WHEREAS, the Purchaser has the right to acquire Thirteen Million One Hundred Thirty Four Thousand Four Hundred Twenty (13,134,420) shares of the Company’s common stock (the “Shares”) for Fifty Four Thousand Four Hundred Seventy Eight Dollars and One Cent ($54,478.01) (the “Purchase Price”);
 
WHEREAS, the Purchaser desires to acquire the Shares in exchange for the Purchase Price, with the Purchase Price to be paid through a reduction in the amounts the Company owes to the Purchaser under certain of the Notes, pursuant to the terms of this Agreement.
 
NOW, THEREFORE, the Parties hereby agree as follows:
 
AGREEMENT
 
1. PURCHASE OF SECURITIES: 
 
On the Closing Date (as hereinafter defined), subject to the terms and conditions set forth in this Agreement, the Purchaser hereby agrees to purchase, and the Company hereby agrees to sell, Thirteen Million One Hundred Thirty Four Thousand Four Hundred Twenty (13,134,420) shares of the Company’s common stock (the “Shares”) in exchange for Fifty Four Thousand Four Hundred Seventy Eight Dollars and One Cent ($54,478.01) (the “Purchase Price”), with the Purchase Price being paid through a reduction in the amounts the Company owes to the Purchaser under certain of the Notes. A list of the Stock Fees being exercised for the Shares and the Notes that are being extinguished to pay the Purchase Price are outlined on Exhibit A hereto. 
 
	
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2. CLOSING AND DELIVERY: 
 
a) Upon the terms and subject to the conditions set forth herein, the consummation of the purchase and sale of the Shares (the “Closing”) shall be held simultaneous with the execution of this Agreement, or at such other time mutually agreed upon between the constituent Parties (the “Closing Date”). The Closing shall take place at the offices of counsel for the Company set forth in Section 6 hereof, or by the exchange of documents and instruments by mail, courier, facsimile and wire transfer to the extent mutually acceptable to the Parties hereto.
 
b) At the Closing:
 
(i) The Company and the Purchaser shall execute this Agreement, which shall serve as evidence of ownership of the Shares, free from restrictions on transfer except as set forth in this Agreement. Subsequent to the Closing, at a time chosen by the Company in its sole discretion, the Company will issue a stock certificate to the Purchaser to evidence the Shares. 
 
(ii) The Purchaser shall deliver to the Company the Purchase Price through the delivery of the signed Notice of Debt Satisfaction in form attached hereto as Exhibit B.
 
3. REPRESENTATIONS, WARRANTIES AND AGREEMENTS BY PURCHASER: The Purchaser hereby represents, warrants and agrees as follows:
 
a) Purchase for Own Account. Purchaser represents that he is acquiring the Shares solely for his own account and beneficial interest for investment and not for sale or with a view to distribution of the Shares or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have reason to anticipate a change in such intention.
 
b) Ability to Bear Economic Risk. Purchaser acknowledges that an investment in the Shares involves a high degree of risk, and represents that he is able, without materially impairing his financial condition, to hold the Shares for an indefinite period of time and to suffer a complete loss of his investment.
 
c) Access to Information. The Purchaser acknowledges that the Purchaser has been furnished with such financial and other information concerning the Company, the directors and officers of the Company, and the business and proposed business of the Company as the Purchaser considers necessary in connection with the Purchaser’s investment in the Shares. As a result, the Purchaser is thoroughly familiar with the proposed business, operations, properties and financial condition of the Company and has discussed with officers of the Company any questions the Purchaser may have had with respect thereto. The Purchaser understands:
 
	
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(i) The risks involved in this investment, including the speculative nature of the investment;
 
(ii) The financial hazards involved in this investment, including the risk of losing the Purchaser’s entire investment;
 
(iii) The lack of liquidity and restrictions on transfers of the Shares; and
 
(iv) The tax consequences of this investment.
 
The Purchaser has consulted with the Purchaser’s own legal, accounting, tax, investment and other advisers with respect to the tax treatment of an investment by the Purchaser in the Shares and the merits and risks of an investment in the Shares.
 
d) Shares Part of Private Placement. The Purchaser has been advised that the Shares have not been registered under the Securities Act of 1933, as amended (the “Act”), or qualified under the securities law of any state, on the ground, among others, that no distribution or public offering of the Shares is to be effected and the Shares will be issued by the Company in connection with a transaction that does not involve any public offering within the meaning of section 4(a)(2) of the Act and/or Regulation D as promulgated by the Securities and Exchange Commission under the Act, and under any applicable state blue sky authority. The Purchaser understands that the Company is relying in part on the Purchaser’s representations as set forth herein for purposes of claiming such exemptions and that the basis for such exemptions may not be present if, notwithstanding the Purchaser’s representations, the Purchaser has in mind merely acquiring the Shares for resale on the occurrence or nonoccurrence of some predetermined event. The Purchaser has no such intention.
 
e) Further Limitations on Disposition. Purchaser further acknowledges that the Shares are restricted securities under Rule 144 of the Act, and, therefore, if the Company, in its sole discretion, chooses to issue any certificates reflecting the ownership interest in the Shares, those certificates will contain a restrictive legend substantially similar to the following:
 
THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.
 
	
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Without in any way limiting the representations set forth above, Purchaser further agrees not to make any disposition of all or any portion of the Shares unless and until:
 
(i) There is then in effect a Registration Statement under the Act covering such proposed disposition and such disposition is made in accordance with such Registration Statement; or
 
(ii) Purchaser shall have obtained the consent of the Company and notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, Purchaser shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration under the Act or any applicable state securities laws.
 
Notwithstanding the provisions of subparagraphs (i) and (ii) above, no such registration statement or opinion of counsel shall be necessary for a transfer by such Purchaser to a partner (or retired partner) of Purchaser, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they were Purchasers hereunder as long as the consent of the Company is obtained.
 
f) Sophisticated Investor Status. The Purchaser is a sophisticated investor. 
 
g) No Backup Withholding. The Social Security Number or taxpayer identification shown in this Agreement is correct, and the Purchaser is not subject to backup withholding because (i) the Purchaser has not been notified that he or she is subject to backup withholding as a result of a failure to report all interest and dividends or (ii) the Internal Revenue Service has notified the Purchaser that he or she is no longer subject to backup withholding.
 
4. REPRESENTATIONS, WARRANTIES AND AGREEMENTS BY COMPANY: The Company hereby represents, warrants and agrees as follows:
 
a) Authority of Company. The Company has all requisite authority to execute and deliver this Agreement and to carry out and perform its obligations under the terms of this Agreement.
 
b) Authorization. All actions on the part of the Company necessary for the authorization, execution, delivery and performance of this Agreement by the Company and the performance of the Company’s obligations hereunder has been taken or will be taken prior to the issuance of the Shares. This Agreement, when executed and delivered by the Company, shall constitute valid and binding obligations of the Company enforceable in accordance with their terms, subject to laws of general application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. The issuance of the Shares will be validly issued, fully paid and nonassessable, will not violate any preemptive rights, rights of first refusal, or any other rights granted by the Company, and will be issued in compliance with all applicable federal and state securities laws, and will be free of any liens or encumbrances, other than any liens or encumbrances created by or imposed upon the Purchaser through no action of the Company; provided, however, that the Shares may be subject to restrictions on transfer under state and/or federal securities laws as set forth herein or as otherwise required by such laws at the time the transfer is proposed.
 
	
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c) Governmental Consents. All consents, approvals, orders, or authorizations of, or registrations, qualifications, designations, declarations, or filings with, any governmental authority required on the part of the Company in connection with the valid execution and delivery of this Agreement, the offer, sale or issuance of the Shares, or the consummation of any other transaction contemplated hereby shall have been obtained, except for notices required or permitted to be filed with certain state and federal securities commissions, which notices will be filed on a timely basis.
 
5. INDEMNIFICATION: The Purchaser hereby agrees to indemnify and defend the Company and its officers and directors and hold them harmless from and against any and all liability, damage, cost or expense incurred on account of or arising out of:
 
(a) Any breach of or inaccuracy in the Purchaser’s representations, warranties or agreements herein;
 
(b) Any disposition of any Shares contrary to any of the Purchaser’s representations, warranties or agreements herein;
 
(c) Any action, suit or proceeding based on (i) a claim that any of said representations, warranties or agreements were inaccurate or misleading or otherwise cause for obtaining damages or redress from the Company or any director or officer of the Company under the Act, or (ii) any disposition of any Shares.
 
6. MISCELLANEOUS:
 
a) Binding Agreement. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the Parties. Nothing in this Agreement, expressed or implied, is intended to confer upon any third party any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.
 
b) Governing Law; Venue. This Agreement shall be governed by and construed under the laws of the State of California as applied to agreements among California residents, made and to be performed entirely within the State of California. The Parties agree that any action brought to enforce the terms of this Agreement will be brought in the appropriate federal or state court having jurisdiction over Orange County, California, United States of America.
 
	
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c) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
 
d) Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.
 
e) Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the Party to be notified, (b) when sent by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the next business day, or (c) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent as follows:
 
		If to the Company:
	TransBiotec, Inc.
400 N. Tustin Ave., Suite 225
Santa Ana, CA 92705 
Attn. Chief Executive Officer
Facsimile (___) 

			
		with a copy to:
	Law Offices of Craig V. Butler
300 Spectrum Center Drive, Suite 300
Irvine, CA 92618
Attn: Craig V. Butler, Esq.
Facsimile (949) 209-2545

			
		If to Purchaser:
	Devadatt Mishal
__________________
__________________ 
Facsimile (___) ___________

 
or at such other address as the Company or Purchaser may designate by ten (10) days advance written notice to the other Party hereto.
 
f) Modification; Waiver. No modification or waiver of any provision of this Agreement or consent to departure therefrom shall be effective unless in writing and approved by the Company and the Purchaser.
 
g) Entire Agreement; Successors. This Agreement and the Exhibits hereto constitute the full and entire understanding and agreement between the Parties with regard to the subjects hereof and no Party shall be liable or bound to the other Party in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein. The representations, warranties and agreements contained in this Agreement shall be binding on the Purchaser’s successors, assigns, heirs and legal representatives and shall inure to the benefit of the respective successors and assigns of the Company and its directors and officers.
 
h) Expenses. Each Party shall pay their own expenses in connection with this Agreement. In addition, should either Party commence any action, suit or proceeding to enforce this Agreement or any term or provision hereof, then in addition to any other damages or awards that may be granted to the prevailing Party, the prevailing Party shall be entitled to have and recover from the other Party such prevailing Party’s reasonable attorneys’ fees and costs incurred in connection therewith.
 
i) Currency. All currency is expressed in U.S. dollars.
 
	
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IN WITNESS WHEREOF, the Parties have executed this Debt Conversion and Common Stock Purchase Agreement as of the date first written above.
 
	“Company”
	 
	“Purchaser”
	 

		 
	 
	 

	TransBiotec, Inc.
	 
	Devadatt Mishal,
	 

	a Delaware corporation
	 
	an individual
	 

		 
	 
	 

	By: Charles Bennington
	 
	Devadatt Mishal
	 

	Its: Chief Executive Officer
	 
		 

 
	
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Exhibit A
 
List of Notes and Stock Fees
 
	Date of
Note
	Principal and Interest 
Due Under Note
	Stock Fee
(Shares)
	Amount of Note Used 
as Purchase Price
	Amount Due Under Note 
After Purchase Price(1)

	8/6/2014
	$14,550
	612,245
	$13,432.88
	$0

	11/16/2016
	$3,750
	1,500,000
	$30,804.79
	$0

	1/17/2017
	$15,000
	2,500,000
	$10,240.34
	$20,139.80

	8/14/2017
	$3,900
	169,014
	$0
	$2,315.89

	9/18/2017
	$40,000
	230,769
	$0
	$2,296.71

	10/19/2017
	$20,000
	240,000
	$0
	$2,279.73

	2/20/2018
	$20,000
	739,535
	$0
	$5,859.77

	2/27/2018
	$10,000
	2,142,857
	$0
	$16,555.48

	4/17/2018
	$5,000
	5,000,000
	$0
	$38,159.59

					 

	Total:
	 
	13,134,420
	$54,478.01
	

 
(1) As of August 23, 2019.
 
Exhibit A
 
	
	
	

	

 
Exhibit B
 
Notice of Debt Satisfaction
 
 
 
Exhibit B
 
	
	
	

	

 
Notice of Debt Satisfaction
 
Pursuant to the terms of that certain Debt Conversion and Stock Purchase Agreement (the “Agreement”) by and between Devadatt Mishal, an individual (the “Purchaser”), and TransBiotec, Inc., a Delaware corporation (the “Company”) dated August 23, 2019, the Purchaser is irrevocably electing to convert the amounts due under certain Loan Agreement with Promissory Note and Stock Fees listed on Exhibit A hereto (the “Notes”) entered into between the Company and the Purchaser totaling $54,478.01 into 13,134,420 shares of common stock of the Company (the “Shares”) according to the conditions set forth in the Agreement.
 
If shares are to be issued in the name of a person other than the Purchaser, the Purchaser will pay all transfer and other taxes and charges payable with respect thereto.
 
The Purchaser acknowledges and agrees that upon receipt of the Shares only the amount indicated on Exhibit A will be due and owing to the undersigned under the Notes.
 
Date of Conversion: August 23, 2019 
 
Effective Conversion Price: $0.0043 /share 
 
Devadatt Mishal
 
Signature: ____________________________________________
[Print Name of Holder and Title of Signer]
 
Address: _____________________________________________
 
SSN or EIN: ___________________________________________
 
Shares are to be registered in the following name:
 
Name: ________________________________________________
 
 
Address: ______________________________________________
 
 
Tel: __________________________________________________
 
 
Fax: __________________________________________________
 
 
SSN or EIN: ____________________________________________
 
 
Exhibit B
 
	
	
	

	

 
Exhibit A
 
List of Notes and Stock Fees
 
	Date of Note
	Principal and Interest 
Due Under Note(1)
	Amount of Note Used 
as Purchase Price
	Amount Due Under Note
After Purchase Price(1)

				 

	8/6/2014
	$14,550
	$13,432.88
	$0

	11/16/2016
	$3,750
	$30,804.79
	$0

	1/17/2017
	$15,000
	$10,240.34
	$20,139.80

 
(1) As of August 23, 2019
 
 
Exhibit B

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