Document:

Exhibit
10.2

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights Agreement
(this “Agreement”), dated as of July 5, 2019 (the “Execution Date”),
is entered into by and between Ozop Surgical Corp., a Nevada corporation (the “Company”) and GHS Investments, LLC,
a Nevada limited liability company, (the “Investor”). The Company and the Investor may be referred to herein collectively
as the “Parties” and separately as a “Party.”

 

RECITALS:

 

Whereas,
the Parties are the parties to that certain Equity Financing Agreement entered into by and between the Company and the Investor
as of the Execution Date (the “Equity Financing Agreement”);

 

WHEREAS, pursuant
to the Equity Financing Agreement the Company has agreed to issue and sell to the Investor an indeterminate number of shares of
the Company’s common stock, par value $0.001 per share (the “Common Stock”), up to an aggregate purchase price
of seven million dollars ($7,000,000); and

 

Whereas,
as an inducement to the Investor to execute and deliver the Equity Financing Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor
statute (collectively, the “1933 Act”), and applicable state securities laws, with respect to the shares of Common
Stock issuable pursuant to the Equity Financing Agreement;

 

NOW THEREFORE, in
consideration of the foregoing recitals, which shall be considered an integral part of this Agreement, the covenants and agreements
set forth hereafter, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
Company and the Investor hereby agree as follows:

Article I.
DEFINITIONS

Section 1.01
Definitions. Defined terms used herein without definition shall have the meaning set forth in the Equity Financing
Agreement. In addition, for all purposes of and under this Agreement, the following terms shall have the respective meanings below,
and such meanings shall be equally applicable to the singular and plural forms of such defined terms

		(a)	“1933 Act” shall have the meaning set forth in the recitals.

		(b)	“Common Stock” shall have the meaning set forth in the recitals.

		(c)	“Company” ” shall have the meaning set forth in the preamble.

		(d)	“Equity Financing Agreement” shall have the meaning set forth in the recitals.

		(e)	“Execution Date” shall have the meaning set forth in the preamble.

		(f)	“Investor” shall have the meaning set forth in the preambles.

		(g)	“Register,” “Registered,” and “Registration” refer to the registration
effected by preparing and filing of the Registration Statement and the declaration or ordering of effectiveness of the Registration
Statement by the SEC.

		(h)	“Registrable Securities” means (i) the shares of Common Stock issued or issuable pursuant
to the Equity Financing Agreement, and (ii) any shares of capital stock issued or issuable with respect to such shares of Common
Stock, if any, as a result of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise, which
have not been (x) included in the Registration Statement that has been declared effective by the SEC, or (y) sold under circumstances
meeting all of the applicable conditions of Rule 144 (or any similar provision then in force) under the 1933 Act.

Section 1.02 Interpretation.
The terms of and definitions in the Equity Financing Agreement are incorporated herein by reference and shall apply to this Agreement
as of the date hereof.

 

Article II.
REGISTRATION

Section 2.01
Registration. The Company shall, within thirty (30) calendar days of the Execution Date, use its commercially reasonable
efforts to file with the SEC the Registration Statement on Form S-1 (or, if such form is unavailable for such a registration, on
such other form as is available for such registration), covering the resale of all of the Registrable Securities, which Registration
Statement shall state that, in accordance with Rule 416 promulgated under the 1933 Act, the Registration Statement also covers
such indeterminate number of additional shares of Common Stock as may become issuable upon stock splits, stock dividends or similar
transactions. The Company shall initially register for resale all of the Registrable Securities which would be issuable on the
date preceding the filing of the Registration Statement based on the closing bid price of the Company’s Common Stock on such
date and the amount reasonably calculated that represents Common Stock issuable to the Investor as set forth in the Equity Financing
Agreement except to the extent that the SEC requires the share amount to be reduced as a condition of effectiveness.

Section 2.02
Effectiveness. The Company shall use all commercially reasonable efforts to have the Registration Statement declared
effective by the SEC within thirty (30) calendar days.

Section 2.03
Inclusion. The Company agrees not to include any other securities in the Registration Statement without Investor’s
prior written consent which Investor may withhold in its sole discretion. Furthermore, the Company agrees that it will not file
any other registration statement for other securities, until after the Registration Statement is declared effective by the SEC.

Section 2.04
New Registration Statement. Notwithstanding the registration obligations set forth in this Article II, if the staff
of the SEC (the “Staff”) or the SEC informs the Company that all of the unregistered Registrable Securities cannot,
as a result of the application of Rule 415 under the 1933 Act, be registered for resale as a secondary offering on a single Registration
Statement, the Company agrees to promptly (i) inform each of the holders thereof and use its commercially reasonable efforts to
file amendments to the Registration Statement as required by the SEC and/or (ii) withdraw the Registration Statement and file a
new registration statement (the “New Registration Statement”), in either case covering the maximum number of Registrable
Securities permitted to be registered by the SEC, on Form S-1 to register for resale the Registrable Securities as a secondary
offering. If the Company amends the Registration Statement or files a New Registration Statement, as the case may be, under clauses
(i) or (ii) above, the Company will use its commercially reasonable efforts to file with the SEC, as promptly as allowed by the
Staff or SEC, one or more registration statements on Form S-1 to register for resale those Registrable Securities that were not
registered for resale on the Registration Statement, as amended, or the New Registration Statement.

Article III.    
Related Obligations

Section 3.01
Obligations. At such time as the Company is obligated to prepare and file the Registration Statement with the SEC
pursuant to Article II, the Company will affect the registration of the Registrable Securities in accordance with the intended
method of disposition thereof and, with respect thereto, the Company shall have the following obligations as set forth in this
Article III.

Section 3.02
Effectiveness. The Company shall use all commercially reasonable efforts to keep the Registration Statement effective
until the earlier to occur of the date on which (A) the Investor shall have sold all the Registrable Securities; or (B) the Investor
has no right or obligation to acquire any additional shares of Common Stock under the Equity Financing Agreement (the “Registration
Period”). The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein)
shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary
to make the statements therein, in light of the circumstances in which they were made, not misleading. The Company shall use all
commercially reasonable efforts to respond to all SEC comments within ten (10) business days from receipt of such comments by the
Company. The Company shall use all commercially reasonable efforts to cause the Registration Statement relating to the Registrable
Securities to become effective no later than three (3) business days after notice from the SEC that the Registration Statement
may be declared effective. The Investor agrees to provide all information which is required by law to the Company, including the
intended method of disposition of the Registrable Securities, and the Company’s obligations set forth above shall be conditioned
on the receipt of such information.

Section 3.03
Filings. The Company shall prepare and file with the SEC such amendments (including post-effective amendments) and
supplements to the Registration Statement and the prospectus used in connection with the Registration Statement, which prospectus
is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may be necessary to keep the Registration Statement effective
during the Registration Period, and, during such period, comply with the provisions of the 1933 Act with respect to the disposition
of all Registrable Securities of the Company covered by the Registration Statement until such time as all of such Registrable Securities
shall have been disposed of in accordance with the intended methods of disposition by the Investor thereof as set forth in the
Registration Statement. In the event the number of shares of Common Stock covered by the Registration Statement filed pursuant
to this Agreement is at any time insufficient to cover all of the Registrable Securities, the Company shall amend the Registration
Statement, or file a new Registration Statement (on the short form available therefor, if applicable), or both, so as to cover
all of the Registrable Securities, in each case, as soon as practicable, but in any event within thirty (30) calendar days after
the necessity therefor arises (based on the then Purchase Price of the Common Stock and other relevant factors on which the Company
reasonably elects to rely), assuming the Company has sufficient authorized shares at that time, and if it does not, within thirty
(30) calendar days after such shares are authorized. The Company shall use commercially reasonable efforts to cause such amendment
and/or new Registration Statement to become effective as soon as practicable following the filing thereof.

Section 3.04
Information to be Provided. The Company shall make available to the Investor whose Registrable Securities are included
in any Registration Statement and its legal counsel without charge (i) promptly after the same is prepared and filed with the SEC
at least one (1) copy of the Registration Statement and any amendment(s) thereto, including financial statements and schedules,
all documents incorporated therein by reference and all exhibits, the prospectus included in the Registration Statement (including
each preliminary prospectus) and, with regards to the Registration Statement(s), any correspondence by or on behalf of the Company
to the SEC or the staff of the SEC and any correspondence from the SEC or the staff of the SEC to the Company or its representatives;
(ii) upon the effectiveness of any Registration Statement, the Company shall make available copies of the prospectus, via EDGAR,
included in the Registration Statement and all amendments and supplements thereto; and (iii) such other documents, including copies
of any preliminary or final prospectus, as the Investor may reasonably request from time to time to facilitate the disposition
of the Registrable Securities.

Section 3.05
Blue Sky. The Company shall use commercially reasonable efforts to (i) register and qualify the Registrable Securities
covered by the Registration Statement under such other securities or “blue sky” laws of such states in the United States
as the Investor reasonably requests; (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments)
and supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration
Period; (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times
during the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities
for sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition
thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section
3.05, or (y) subject itself to general taxation in any such jurisdiction. The Company shall promptly notify the Investor who holds
Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the registration or
qualification of any of the Registrable Securities for sale under the securities or “blue sky” laws of any jurisdiction
in the United States or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose.

Section 3.06
Notice of Events. As promptly as practicable after becoming aware of such event, the Company shall notify Investor
in writing of the happening of any event as a result of which the prospectus included in the Registration Statement, as then in
effect, includes an untrue statement of a material fact or omission to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading (“Registration Default”)
and use all diligent efforts to promptly prepare a supplement or amendment to the Registration Statement and take any other necessary
steps to cure the Registration Default (which, if the Registration Statement is on Form S-3, may consist of a document to be filed
by the Company with the SEC pursuant to Section 13(a), 13(c), 14 or 15(d) of the 1934 Act (as defined below) and to be incorporated
by reference in the prospectus) to correct such untrue statement or omission, and make available copies of such supplement or amendment
to the Investor. The Company shall also promptly notify the Investor (i) when a prospectus or any prospectus supplement or post-effective
amendment has been filed, and when the Registration Statement or any post-effective amendment has become effective (the Company
will prepare notification of such effectiveness which shall be delivered to the Investor on the same day of such effectiveness
and by overnight mail), additionally, the Company will promptly provide to the Investor, a copy of the effectiveness order prepared
by the SEC once it is received by the Company; (ii) of any request by the SEC for amendments or supplements to the Registration
Statement or related prospectus or related information, (iii) of the Company’s reasonable determination that a post-effective
amendment to the Registration Statement would be appropriate, (iv) in the event the Registration Statement is no longer effective,
or (v) if the Registration Statement is stale as a result of the Company’s failure to timely file its financials or otherwise

Section 3.07
Stop Orders. The Company shall use all commercially reasonable efforts to prevent the issuance of any stop order
or other suspension of effectiveness of the Registration Statement, or the suspension of the qualification of any of the Registrable
Securities for sale in any jurisdiction and, if such an order or suspension is issued, to obtain the withdrawal of such order or
suspension at the earliest possible moment and to notify the Investor holding Registrable Securities being sold of the issuance
of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding concerning
the effectiveness of the registration statement.

Section 3.08
Review and Comment. The Company shall permit the Investor and one (1) legal counsel, designated by the Investor,
to review and comment upon the Registration Statement and all amendments and supplements thereto at least one (1) calendar day
prior to their filing with the SEC. However, any postponement of a filing of a Registration Statement or any postponement of a
request for acceleration or any postponement of the effective date or effectiveness of a Registration Statement by written request
of the Investor (collectively, the “Investor’s Delay”) shall not act to trigger any penalty of any kind, or any
cash amount due or any in-kind amount due the Investor from the Company under any and all agreements of any nature or kind between
the Company and the Investor. The event(s) of an Investor’s Delay shall act to suspend all obligations of any kind or nature
of the Company under any and all agreements of any nature or kind between the Company and the Investor.

Section 3.09
Opinion Letter. At the request of the Investor, the Company’s counsel shall furnish to the Investor, within
two (2) business days, an opinion letter confirming the effectiveness of the registration statement. Such opinion letter shall
be issued as of the date of the effectiveness of the registration statement, in a form suitable to the Investor.

Section 3.10
Information. The Company shall hold in confidence and not make any disclosure of information concerning the Investor
unless (i) disclosure of such information is necessary to comply with federal or state securities laws or any other applicable
Laws, (ii) the disclosure of such information is necessary to avoid or correct a misstatement or omission in any Registration Statement,
or (iii) the release of such information is ordered pursuant to a subpoena or other final, non-appealable order from a court or
governmental body of competent jurisdiction. The Company agrees that it shall, upon learning that disclosure of such information
concerning the Investor is sought in or by a court or governmental body of competent jurisdiction or through other means, give
prompt written notice to the Investor and allow the Investor, at the Investor’s expense, to undertake appropriate action
to prevent disclosure of, or to obtain a protective order covering such information.

Section 3.11
Principal Market. The Company shall use all commercially reasonable efforts to maintain designation and quotation
of all the Registrable Securities covered by any Registration Statement on the Principal Market. If, despite the Company’s
commercially reasonable efforts, the Company is unsuccessful in satisfying the preceding sentence, it shall use commercially reasonable
efforts to cause all the Registrable Securities covered by any Registration Statement to be listed on each other national securities
exchange and automated quotation system, if any, on which securities of the same class or series issued by the Company are then
listed, if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange or system.

The Company shall pay
all fees and expenses in connection with satisfying its obligation under this Section.

Section 3.12
Cooperation. The Company shall cooperate with the Investor to facilitate the prompt preparation and delivery the
Registrable Securities to be offered pursuant to the Registration Statement and enable such Registrable Securities to be in such
denominations or amounts, as the case may be, as the Investor may reasonably request.

Section 3.13
Transfer Agent. The Company shall provide a transfer agent for all the Registrable Securities not later than the
effective date of the first Registration Statement filed pursuant hereto. Within three (3) business day after the Registration
Statement which includes Registrable Securities is declared effective by the SEC, the Company shall deliver to the transfer agent
for such Registrable Securities, with copies to the Investor, confirmation that the Registration Statement has been declared effective
by the SEC.

Section 3.14
Incorporation of Information. If requested by the Investor, the Company shall (i) as soon as reasonably practical
incorporate in a prospectus supplement or post-effective amendment such information as the Investor reasonably determines should
be included therein relating to the sale and distribution of Registrable Securities, including, without limitation, information
with respect to the offering of the Registrable Securities to be sold in such offering; (ii) make all required filings of such
prospectus supplement or post-effective amendment as soon as reasonably possible after being notified of the matters to be incorporated
in such prospectus supplement or post-effective amendment; and (iii) supplement or make amendments to any Registration Statement
if reasonably requested by the Investor.

 

Section 3.15
Compliable with Laws. The Company shall otherwise use all commercially reasonable efforts to comply with all applicable
rules and regulations of the SEC in connection with any registration hereunder.

Section 3.16
Expenses of Registration. All legal expenses, other than underwriting discounts and commissions and other than as
set forth in the Equity Financing Agreement, incurred in connection with registrations including comments, filings or qualifications
pursuant to Article II and Article III including, without limitation, all registration, listing and qualifications fees, and printing
fees shall be paid by the Company.

Article IV.    
OBLIGATIONS OF THE INVESTOR

Section 4.01
Provision of Information. At least five (5) calendar days prior to the first anticipated filing date of the Registration
Statement, the Company shall notify the Investor in writing of the information the Company requires from the Investor for the Registration
Statement. It shall be a condition precedent to the obligations of the Company to complete the registration pursuant to this Agreement
with respect to the Registrable Securities and the Investor agrees to furnish to the Company that information regarding itself,
the Registrable Securities and the intended method of disposition of the Registrable Securities as shall reasonably be required
to effect the registration of such Registrable Securities and the Investor shall execute such documents in connection with such
registration as the Company may reasonably request. The Investor covenants and agrees that, in connection with any sale of Registrable
Securities by it pursuant to the Registration Statement, it shall comply with the “Plan of Distribution” section of
the then current prospectus relating to the Registration Statement.

Section 4.02
Cooperation. The Investor, by its acceptance of the Registrable Securities, agrees to cooperate with the Company
as reasonably requested by the Company in connection with the preparation and filing of any Registration Statement hereunder, unless
the Investor has notified the Company in writing of an election to exclude all of the Investor’s Registrable Securities from
the Registration Statement.

Section 4.03
Suspension of Sales. The Investor agrees that, upon receipt of written notice from the Company of the happening of
any event of the kind described in Section 3.07 or the first sentence of Section 3.06, the Investor will immediately discontinue
disposition of Registrable Securities pursuant to any Registration Statement(s) covering such Registrable Securities until the
Investor’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.07 or the first sentence
of Section 3.06.

Article V.
INDEMNIFICATION

Section 5.01
Indemnification Generally. In the event any Registrable Securities are included in the Registration Statement under
this Agreement, the Company and the Investor each agree to the indemnification obligations as set forth in this Article V, which
provisions shall take precedence over the indemnification obligations in the Equity Financing Agreement, to the extent that such
other provisions may apply.

Section 5.02
Indemnification by the Company. To the fullest extent permitted by law, the Company, under this Agreement, will,
and hereby does, indemnify, hold harmless and defend the Investor, the directors, officers, partners, employees, counsel, agents,
representatives of, and each Person, if any, who controls, the Investor within the meaning of the 1933 Act or the Securities Exchange
Act of 1934, as amended (the “1934 Act”) (each, an “Indemnified Person”), against any losses, claims, damages,
liabilities, judgments, fines, penalties, charges, costs, attorneys’ fees, amounts paid in settlement or expenses, joint
or several (collectively, “Claims”), incurred in investigating, preparing or defending any action, claim, suit, inquiry,
proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory
agency, body or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified
Damages”), to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or
threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material
fact in the Registration Statement or any post-effective amendment thereto or in any filing made in connection with the qualification
of the offering under the securities or other “blue sky” laws of any jurisdiction in which the Investor has requested
in writing that the Company register or qualify the Shares (“Blue Sky Filing”), or the omission or alleged omission
to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which the statements therein were made, not misleading, (ii) any untrue statement or alleged untrue statement of a material
fact contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto
with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein,
in light of the circumstances under which the statements therein were made, not misleading, or (iii) any violation or alleged violation
by the Company of the 1933 Act, the 1934 Act, any other law, including, without limitation, any state securities law, or any rule
or regulation thereunder relating to the offer or sale of the Registrable Securities pursuant to the Registration Statement (the
matters in the foregoing clauses (I) through (iii) being, collectively, “Violations”). Subject to the restrictions
set forth in Section 5.04 the Company shall reimburse the Investor and each such controlling person, promptly as such expenses
are incurred and are due and payable, for any reasonable legal fees or other reasonable expenses incurred by them in connection
with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 5.02: (I) shall not apply to a Claim arising out of or based upon a Violation which is due
to the inclusion in the Registration Statement of the information furnished to the Company by any Indemnified Person expressly
for use in connection with the preparation of the Registration Statement or any such amendment thereof or supplement thereto; (ii)
shall not be available to the extent such Claim is based on (a) a failure of the Investor to deliver or to cause to be delivered
the prospectus made available by the Company or (b) the Indemnified Person’s use of an incorrect prospectus despite being
promptly advised in advance by the Company in writing not to use such incorrect prospectus; (iii) any claims based on the manner
of sale of the Registrable Securities by the Investor or of the Investor’s failure to register as a dealer under applicable
securities laws; (iv) any omission of the Investor to notify the Company of any material fact that should be stated in the Registration
Statement or prospectus relating to the Investor or the manner of sale; and (v) any amounts paid in settlement of any Claim if
such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld.
Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Person
and shall survive the resale of the Registrable Securities by the Investor pursuant to the Registration Statement.

Section 5.03
Indemnification by the Investor. The Investor agrees to severally and jointly indemnify, hold harmless and defend,
to the same extent and in the same manner as is set forth in Section 5.02, the Company, each of its directors, each of its officers
who signs the Registration Statement, each Person, if any, who controls the Company within the meaning of the 1933 Act or the 1934
Act and the Company’s agents (collectively and together with an Indemnified Person, an “Indemnified Party”),
against any Claim or Indemnified Damages to which any of them may become subject, under the 1933 Act, the 1934 Act or otherwise,
insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case to the extent, and only
to the extent, that such Violation is due to the inclusion in the Registration Statement of the written information furnished to
the Company by the Investor expressly for use in connection with the Registration Statement; and, subject to Section 5.04, the
Investor will reimburse any legal or other expenses reasonably incurred by them in connection with investigating or defending any
such Claim; provided, however, that the indemnity agreement contained in this Section 5.03 and the agreement with respect
to contribution contained in Section 5.06 shall not apply to amounts paid in settlement of any Claim if such settlement is effected
without the prior written consent of the Investor, which consent shall not be unreasonably withheld; provided, further, however,
that the Investor shall only be liable under this Section 5.03 for that amount of a Claim or Indemnified Damages as does not exceed
the net proceeds to such Investor as a result of the sale of Registrable Securities pursuant to the Registration Statement. Such
indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party
and shall survive the resale of the Registrable Securities by the Investor pursuant to the Registration Statement. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 5.03 with respect to any preliminary
prospectus shall not inure to the benefit of any Indemnified Party if the untrue statement or omission of material fact contained
in the preliminary prospectus were corrected on a timely basis in the prospectus, as then amended or supplemented. This indemnification
provision shall apply separately to each Investor and liability hereunder shall not be joint and several.

Section 5.04
Process for Indemnification. Promptly after receipt by an Indemnified Person or Indemnified Party under this Section
4.03 of notice of the commencement of any action or proceeding (including any governmental action or proceeding) involving a Claim,
such Indemnified Person or Indemnified Party shall, if a Claim in respect thereof is to be made against any indemnifying party
under this Section 4.03, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party
shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party
and the Indemnified Person or the Indemnified Party, as the case may be; provided, however, that an Indemnified Person or Indemnified
Party shall have the right to retain its own counsel with the fees and expenses to be paid by the indemnifying party, if, in the
reasonable opinion of counsel retained by the Indemnified Person or Indemnified Party, the representation by counsel of the Indemnified
Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential differing interests between
such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding. The indemnifying
party shall pay for only one (1) separate legal counsel for the Indemnified Persons or the Indemnified Parties, as applicable,
and such counsel shall be selected by the Investor, if the Investor is entitled to indemnification hereunder, or the Company, if
the Company is entitled to indemnification hereunder, as applicable. The Indemnified Party or Indemnified Person shall cooperate
fully with the indemnifying party in connection with any negotiation or defense of any such action or Claim by the indemnifying
party and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party or Indemnified
Person which relates to such action or Claim. The indemnifying party shall keep the Indemnified Party or Indemnified Person fully
apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying party
shall be liable for any settlement of any action, claim or proceeding affected without its written consent, provided, however,
that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without
the consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other
compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified
Party or Indemnified Person of a release from all liability in respect to such Claim. Following indemnification as provided for
hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect
to all third parties, firms or corporations relating to the matter for which indemnification has been made. The failure to deliver
written notice to the indemnifying party within a reasonable time of the commencement of any such action shall not relieve such
indemnifying party of any liability to the Indemnified Person or Indemnified Party under this Article V, except to the extent that
the indemnifying party is prejudiced in its ability to defend such action.

Section 5.05
Additional Rights. The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar
right of the Indemnified Party or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying
party may be subject to pursuant to the law.

Section 5.06Contribution.
To the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make
the maximum contribution with respect to any amounts for which it would otherwise be liable under this Article V to the fullest
extent permitted by law; provided, however, that: (i) no contribution shall be made under circumstances where the maker would not
have been liable for indemnification under the fault standards set forth in this Article V; (ii) no seller of Registrable Securities
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution
from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation; and (iii) contribution by any seller
of Registrable Securities shall be limited in amount to the net amount of proceeds received by such seller from the sale of such
Registrable Securities.

Article VI.    
MISCELLANEOUS

Section 6.01
Notices. Any notices or other communications required or permitted to be given under the terms of this Agreement
shall be given in accordance with the provisions of the Equity Financing Agreement.

Section 6.02
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.

Section 6.03
Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Agreement.

Section 6.04
Severability. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or
the validity or enforceability of any provision of this Agreement in any other jurisdiction.

Section 6.05
Entire Agreement; Amendments. This Agreement and the other Transaction Documents are the final and entire agreement
between the Company and the Investor with respect to the terms and conditions set forth herein and therein, and, the terms of this
Agreement and the other Transaction Documents may not be contradicted by evidence of prior, contemporaneous, or subsequent oral
agreements of the Parties. No provision of this Agreement or the other Transaction Documents may be amended other than by an instrument
in writing signed by the Company and the Investor, and no provision hereof or thereof may be waived other than by an instrument
in writing signed by the Party against whom enforcement is sought. The execution and delivery of the Transaction Documents shall
not alter the force and effect of any other agreements between the Parties, and the obligations under those agreements.

Section 6.06
No Assignment. This Agreement may not be assigned by either Party without the prior written consent of the other
Party, and any attempted assignment without such consent shall be null and void and of no force or effect.

Section 6.07
No Third-Party Beneficiaries. Other than as specifically set forth herein, this Agreement is intended for the benefit
of the Parties and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

Section 6.08
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 Equity
Financing Transactions.

Section 6.09
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, as the Parties mutually
agree that each has had a full and fair opportunity to review this Agreement and seek the advice of counsel on it.

Section 6.10
Counterparts. This Agreement may be executed in any number of counterparts and by the different signatories hereto
on separate counterpart signature pages, each of which, when so executed, shall be deemed an original, but all such counterparts
shall constitute but one and the same instrument. This Agreement may be executed by facsimile transmission, PDF, electronic signature
or other similar electronic means with the same force and effect as if such signature page were an original thereof.

 

[Signature page follows]

    	 

    	 

    

 

 

In witness whereof,
the Parties have executed this Agreement as of the Execution Date, signifying their agreement to be bound by the terms and conditions
of the Agreement as of the date first written above, and their certification that they have read and understand the Agreement,
and the representations made by the undersigned in this Agreement are true and accurate.

 

GHS INVESTMENTS, LLC

 

 

By:/s/ Mark Grober

Name:Mark Grober

Title:Member

 

Ozop Surgical Corp.

 

By:/s/ Michael Chermak

Name: Michael Chermak

Title:Chief Executive Officer

 

 

 

 

 

[SIGNATURE PAGE OF REGISTRATION RIGHTS
AGREEMENT]Exhibit 10.3 

 

PROMISSORY NOTE

 

	$30,000	July 5, 2019

 

FOR
VALUE RECEIVED, Ozop Surgical Corp., a Nevada Corporation with an address at 319 Clematis
Street, Suite 714, West Palm Beach FL 33401 (referred to herein as “Debtor”), hereby irrevocably promises and agrees
to pay to the order of GHS Investments, LLC a Nevada limited liability company with an address at 420 Jericho Turnpike,
Suite 102, Jericho, NY 11753 (“Creditor”), or at such other place as set forth
herein or as designated in writing by the Holder (as defined below) hereof, in lawful money of the United States of America, the
principal sum of Thirty Thousand Dollars ($30,000), together with interest thereon (if any) and other fees in connection therewith,
on the Maturity Date (as defined below) or earlier in accordance with the terms and conditions herein.

 

		1.	Interest on the unpaid principal balance
hereof will accrue from the date hereof at the rate of eight percent (8%) per annum, calculated on the basis of a 365-day year
and actual days elapsed until the entire outstanding balance and all interest accrued thereon has been repaid in full. 

 

		2.	Creditor may sell, assign, transfer, pledge or hypothecate this Note
and any or all of its rights and remedies hereunder at any time, with or without notice to Debtor, to any person or entity. Creditor
and its successors and assigns under this Note are sometimes referred to herein as the “Holder.” 

 

		3.	Full Payment on this Note will be due and payable on January 5, 2020
(the “Maturity Date”). Payment shall be delivered to Creditor’s address, or to such other address as directed
in writing by the Holder hereof, and shall be made in U.S. Dollars in immediately available funds. 

 

		4.	Debtor may prepay any amount due hereunder, in whole or in part,
at any time without penalty or premium for such early payment. Debtor shall also be entitled to offset against this Note any amount
owed by Creditor to Debtor, including without limitation any losses or expenses actually incurred by Debtor as a result of a breach
by Creditor of any of its obligations between Debtor and Creditor.

 

		5.	If (a) any payment or delivery required by
this Note is not made when due hereunder, or any obligation or covenant undertaken by Debtor hereunder is not performed or observed
as and when required hereby, (b) Debtor defaults in the performance of any obligation evidenced by this Note, (c) any representation
or warranty made by Debtor in this Note or any other instrument, agreement or document delivered by Debtor or any other party for
Debtor’s benefit in connection herewith proves to have been materially false or inaccurate when made, (d) any event of default
occurs under any instrument securing the obligations evidenced by this Note, or (e) Debtor files an assignment for the benefit
of creditors or for relief under any provisions of the Bankruptcy Code, or suffers an involuntary petition in bankruptcy or receivership
to be filed and not vacated within 30 days, then the Holder may at its sole option consider the entire unpaid principal
balance and accrued but unpaid interest hereunder at once become due and payable without notice (time being the essence hereof).
The exercise or failure to exercise such remedy shall not constitute a waiver of the right to exercise such remedy or preclude
the exercise of any other remedy in the event of any subsequent default, event or circumstance that gives rise to such right of
acceleration.

 

		6.	In the event Debtor fails to make a payment under this Note on the
due date therefore or otherwise defaults in any obligation under this Note, all amounts owing and past due hereunder, including
without limitation principal (whether by acceleration or in due course), interest, late fees and other charges, shall become immediately
due bear interest at the rate of twenty percent (20%) per annum or the maximum rate allowed by law, both before and after judgment.

 

		7.	In the event that any payment under this
Note is not made at the time and in the manner required (whether before or after maturity), Debtor agrees to pay any and all reasonable
costs and expenses (regardless of the particular nature thereof and whether incurred before or after the initiation of suit or
before or after judgment) which may be incurred by Holder in connection with the enforcement of any of its rights under this Note,
including, but not limited to, attorneys’ fees and all costs and expenses of collection.

 

		8.	All amounts paid by Debtor in respect of
amounts due hereunder shall be applied by Holder in the following order of priority: (a) amounts due and payable, if any, pursuant
to Section 7, (b) interest due and payable hereunder, and (c) the outstanding principal balance hereof.

 

		9.	Debtor, on behalf of itself and all sureties,
guarantors, and endorsers hereof, if any, hereby waives presentment for payment, demand, and notice of dishonor and nonpayment
of this Note, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Holder
with respect to the payment or other provisions of this Note, and to the release of any security, or any part thereof, with or
without substitution.

 

		10.	The failure of Holder in any one or more instances to insist upon
strict performance of any of the terms and provisions of this Note, or to exercise any option conferred herein shall not be construed
as a waiver or relinquishment, to any extent, of the right to assert or rely upon any such terms, provisions or options on any
future occasion.

 

		11.	This Note shall be governed by and construed
in accordance with the laws of Nevada, without giving effect to any conflict of laws provisions. This Note shall bind the successors
and assigns of Debtor and shall inure to benefit of the successors and assigns of Creditor.

 

		12.	This Note is entered into pursuant to the Equity Financing Agreement
dated as of the date hereof between the Debtor and the Creditor (the “Agreement”) and, together with the Agreement
and the other Transaction Documents (as defined in the Agreement) constitutes the entire understanding and agreement between the
Debtor and the Creditor with regard to the subject matters hereof and thereof, and supersedes and replaces any prior understanding
or agreement, oral or written, relating to such subject matters.

 

    	 

    	 

    

IN WITNESS WHEREOF, Debtor has
executed this Note on or as of the day and year first above written.

 

Ozop Surgical Corp.

 

 

/s/ Michael Chermak

Michael Chermak

Chief Executive Officer

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