Document:

Exhibit 4.1

 

CERTIFICATE OF DESIGNATION

 

OF

 

SERIES A CONVERTIBLE
PREFERRED STOCK

 

OF

 

BLOCKCHAIN INDUSTRIES, INC.

 

(Pursuant to NRS 78.1955)

 

BLOCKCHAIN INDUSTRIES, INC.,
a corporation organized and existing under the Nevada Revised Statutes (hereinafter called the “Corporation”), hereby
certifies that the following resolution was adopted by the Board of Directors of the Corporation as required by NRS 78.1955 at
a meeting duly called and held on November 12, 2017.

 

RESOLVED, that pursuant to the
authority granted to and vested in the Board of Directors of the Corporation (the “Board’) in accordance with
the provisions of the Articles of Incorporation of the Corporation, as currently in effect, the Board hereby fixes the relative
rights, preferences, and limitations thereof as follows:

 

Series A Convertible Preferred Stock: 500,000 shares

 

Section 1. Designation
and Amount. The Corporation has authorized 5,000,000 shares of preferred stock, par value $0.001, and of those shares, 500,000
shares are hereby designated as “Series A Convertible

Preferred Stock” (the “Series A
Preferred Stock”). Such number of shares may be increased by resolution of the Board of Directors.

 

Section 2. Voting Rights.
Except as otherwise required by law, the holders of shares of Series A Preferred Stock shall have no voting rights unless and until
such shares are converted into shares of common stock, par value $.001 per share, of the Corporation (the “Common Stock”).

 

Section 3. Conversion.

 

(a) 
Subject to the limitations in Section 8 below, each share of Series A Preferred Stock shall be convertible into a number
of shares of Common Stock equal to the Conversation Ratio (as defined below).

 

(b) The
“Conversion Ratio” shall initially equal one (1) share of Series A Preferred Stock for twenty (20) shares of
Common Stock and shall be subject to adjustment, from time to time, pursuant to Section 4 below.

 

(c) 
In order to convert any shares of Series A Preferred Stock, in whole or in part, into full shares of Common Stock, the applicable
Holder shall give written notice in the form of Exhibit 1 (the “Conversion Notice”) by facsimile (with the original
of such notice forwarded via overnight courier) to the Corporation at its principal offices to the effect that such Holder elects
to have converted the number of shares of Series A Preferred Stock specified therein (such notice and election shall be irrevocable
by the Holder). The effective date of conversion (the “Holder Conversion Date”) shall be deemed to be the date on which
the Corporation receives by facsimile the Conversion Notice.

 

(d) 
Upon receipt by the Corporation of such Conversion Notice by facsimile and courier, and surrender of the Series A Preferred
share certificate, the Corporation shall cause its transfer agent to issue and deliver within three business (3) days: (i) a certificate
or certificates representing the number of shares of Common Stock being acquired upon the conversion of shares of Series A Preferred
Stock; and (ii) one or more certificates representing the number of shares of Series A Preferred Stock not converted. The person
or persons entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the
record holder of such shares of Common Stock on the Holder Conversion Date.

 

 

 

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(e) 
Each certificate representing shares of Series A Preferred Stock surrendered to the Corporation for conversion pursuant
to this Section 3 shall, on the Holder Conversion Date and subject to issuance of the shares of Common Stock issuable upon conversion
thereof, be canceled and retired by the Corporation. Upon issuance of the shares of Common Stock issuable upon conversion of the
Series A Preferred Stock pursuant to this Section 3, the shares of Series A Preferred Stock formerly represented thereby shall
be deemed to be canceled and shall be

considered to be authorized but unissued and outstanding
for any purpose, including without limitation, for purposes of accumulating dividends thereon.

 

(f) 
In the event of a liquidation of the Corporation, the conversion rights shall terminate at the close of business on the
first full day preceding the date fixed for the payment of any amounts distributable on liquidation to the holders of Series A
Preferred Stock.

 

(g)  Notwithstanding
the foregoing, in no event may the Holder convert any shares of Series A Preferred Stock into Common Stock if, as a result of
such conversion, the Holder will own of record and/or beneficially in excess of 4.99% of the outstanding shares of Common
Stock on the Holder Conversion Date (the “Conversion Limitation”). Nevertheless, in the event of the
Corporation enters into an agreement or understanding that will result in a change in control of the Corporation
(“Change in Control Transaction”), the Corporation will give the Holder thirty (30) days advance written notice
of the Change in Control Transaction and, not less than ten (10) days prior to the closing of the Change in Control
Transaction, it is expressly understood and agreed by the Corporation and the Holder that the Conversion Limitation contained
in this Section 3(g) shall be waived in its entirety and that the Holder may convert all but not less than all of the
Holder’s Series A Preferred Stock into shares of Common Stock at any time prior to the Closing of the Change in Control
Transaction.

 

Section 4. Adjustments; Reorganizations.

 

(a) 
Adjustment for Splits and Combinations. (i) In the event the Corporation at any time or from time to time hereafter
makes, or fixes a record date for the effectuation of a split or subdivision of the outstanding shares of Common Stock without
payment of any consideration, or to effect a dividend of Common Stock to the holders of Common Stock, then as of such record date
(or the date of such split or subdivision, dividend or distribution if no record date is fixed), the Conversion Ratio shall be
increased in proportion to such increase of the aggregate shares of Common Stock outstanding.

 

(ii) If the number of shares
of Common Stock outstanding at any time after the Issuance Date is decreased by a combination of the outstanding shares of Common
Stock, then, following the record date of such combination (or the date of such combination if no record date is fixed), the Conversion
Ratio shall be appropriately decreased in proportion to such decrease in of the aggregate shares of Common Stock outstanding.

 

(b) 
Adjustment for Dividends and Distributions. In the event the Corporation at any time or from time to time after the
Issuance Date makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, a dividend or
other distribution payable in securities, cash or other assets of the Corporation (other than shares of Common Stock) or any of
its subsidiaries, including in connection with a spin-off, then and in each such event, provision shall be made so that the Holders
shall concurrently receive dividends or distributions equal in amount and in the same kind of property (whether cash, securities
or other property) as such Holder would be entitled to receive if all of the outstanding Series A Preferred Stock were converted
into Common Stock as of the record date of such dividend or distribution with respect to Common Stock. For purposes of this Section
4(b), the number of shares of Common Stock so receivable upon conversion by the Holder shall be deemed to be that number which
the Holder would have received upon conversion of the Series A Preferred Stock if the Holder Conversion Date had been the day preceding
the date upon which the Corporation announced the making of such dividend or other distribution.

 

 

 

 

 

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(c)  Adjustment
for Reclassification, Exchange and Substitution. In the event that at any time or from time to time after the Issuance
Date, the Common Stock issuable upon the conversion of the Series A Preferred Stock is changed into the same or a different
number of shares of any class or classes of stock, whether by recapitalization, reclassification or otherwise (other than a
subdivision or combination of shares or stock dividend or reorganization provided for elsewhere in this Section 4), then and
in each such event each Holder shall thereafter have the right upon conversion to receive, the kind and amount of shares
of stock and other securities, cash and property receivable upon such recapitalization, reclassification or other change, by
holders of the number of shares of Common Stock which the Holder of shares of Series A Preferred Stock would have received
had it converted such shares immediately prior to such recapitalization, reclassification or other change, at the Conversion
Ratio then in effect (the kind, amount and price of such stock and other securities to be subject to adjustments as herein
provided). Prior to the consummation of any recapitalization, reclassification or other change contemplated hereby, the
Corporation will make appropriate provision (in form and substance satisfactory to the Holders of a majority of the Series A
Preferred Stock then outstanding) to ensure that each of the Holders of the Series A Preferred Stock 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 otherwise
acquirable and receivable upon the conversion of such Holder’s Series A Preferred Stock, such shares of stock,
securities or assets that would have been issued or payable in such recapitalization, reclassification or other 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 such Holder’s Series A Preferred Stock had such recapitalization, reclassification or other change not
taken place (without taking into account any limitations or restrictions on the timing or amount of conversions). In the
event of such recapitalization, reclassification or other change, the formulae set forth herein for conversion and redemption
shall be equitably adjusted to reflect such change in number of shares or, if shares of a new class of stock are issued, to
reflect the market price of the class or classes of stock issued in connection with the above described events.

 

(d) 
Reorganization. If at any time or from time to time after the Issuance Date there is a capital reorganization of
the Common Stock (other than a recapitalization, subdivision, combination, reclassification or exchange of shares provided for
elsewhere in this Section 4) then, as a part of such reorganization, provisions shall be made so that the Holders shall thereafter
be entitled to receive, subject to a delay in delivery to Holders pursuant to Section 8 below, upon conversion of its shares of
Series A Preferred Stock the number of shares of stock or other securities or property to which a holder of the number of shares
of Common Stock deliverable upon conversion would have been entitled to receive had the holder of shares of Series A Preferred
Stock converted such shares immediately prior to such capital reorganization, at the Conversion Ratio then in effect. In any such
case, appropriate adjustments shall be made in the application of the provisions of this Section 4 with respect to the rights of
the Holders after such capital reorganization to the extent that the provisions of this Section 4 shall be applicable after that
event and be as equivalent as may be practicable, including, by way of illustration and not limitation, by equitably adjusting
the formulae set forth herein for conversion and redemption to reflect the market price of the securities or property issued in
connection with the above described events.

 

(e) 
Certain Events. If any event occurs of the type contemplated by the foregoing provisions of this Section 4 but not
expressly provided for by such provisions, then the Corporation’s Board of Directors will make an appropriate adjustment
in the Conversion Ratio so as to protect the rights of the holders of the Series A Preferred Stock; provided, however,
that no such adjustment will decrease the Conversion Ratio as otherwise determined pursuant to this Section 4.

 

Section 5. Dividends.

 

(a) 
Except as otherwise provided in Section 5(b) below, the shares of Series A Preferred Stock shall not be entitled to any
dividends in respect thereof unless and until the Board, in its discretion, so elects.

 

(b) 
The Corporation shall not declare or make any dividend or distribution with respect to Common Stock, unless each holder
of Series A Preferred Stock concurrently receives dividends or distributions equal in amount and in the same kind of property (whether
cash, securities or other property) as such holder would be entitled to receive if all of the outstanding Series A Preferred Stock
were converted into Common Stock as of the record date of such dividend or distribution with respect to Common Stock.

 

 

 

 

 

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Section 6. Rank; Liquidation.
The Series A Preferred Stock shall rank, with respect to the payment of dividends and the distribution of assets, equal to
the holders of Common Stock. The Holders of Series A Preferred Stock, in the event of any voluntary or involuntary liquidation,
dissolution or winding up of the Corporation, shall be entitled to receive in cash out of the assets of the Corporation, whether
from capital or from earnings available for distribution to its stockholders pari passu with any amount paid to the holders
of any Common Stock on a pro rata share of the assets of the Corporation legally available for distribution determined on an as-converted
to Common Stock basis based on the Conversion Ratio at the time in effect for the Series A Preferred Stock and number of other
shares of Common Stock then outstanding.

 

Section 7. Fractional
Shares. No fractional shares of Common Stock or scrip representing fractional shares of Common Stock shall be issuable hereunder
and the Corporation shall pay cash in an amount equal to the value of the fractional share of Common Stock to which any holder
would otherwise be entitled.

 

Section 8. Reservation
of Stock. The Corporation shall reserve and keep available unissued shares of Common Stock as shall be necessary for the purpose
of effecting the conversion of shares of issued and outstanding Series A Preferred Stock and for the payment of any dividends in
shares of registered Common Stock, which shares shall be free of preemptive rights, for the purpose of enabling the Corporation
to satisfy any obligation to issue shares of its Common Stock, or other securities, upon conversion of all shares of Series A Preferred
Stock pursuant hereto. Calculation of reservation shall occur on a periodic basis and any periodic inadequate reserve of authorized
Common Stock shall not limit or affect the “as converted” voting rights of the Series A Preferred Shares.

 

Section 9. Taxes. The
Corporation shall pay any and all documentary, stamp or similar taxes attributable to the issuance and delivery of Common Stock
or other securities upon conversion of the Series A Preferred Stock. However, the Corporation shall not be required to pay any
tax which may be payable in respect to any transfer involved in the issue and delivery of shares of Common Stock upon conversion
in a name other than that in which the shares of the Series A Preferred Stock so converted were registered, and no such issue
or delivery shall be made unless and until the person requesting such issue or delivery has paid to the Corporation the amount
of any such tax, or has established, to the satisfaction of the Corporation, that such tax has been paid. The Corporation shall
not be required to pay any income tax upon the issuance of Common Stock in lieu of cash payment of dividends or redemption payments.

 

Section 10. No Impairment.
Unless specifically approved by the Board of Directors of the Corporation, the Corporation shall not intentionally take any
action which would impair the rights and privileges of the Series A Preferred Stock set forth herein or the rights of the Holders
thereof. The Corporation will not, by amendment of its Articles of Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed hereunder by the Corporation, but will at all times in good faith
assist in the carrying out of all the provisions herein and in the taking of all such action as may be necessary or appropriate
in order to protect the Conversion Rights of the holders of the Series A Preferred Stock against impairment.

 

Section 11. Replacement
Certificate. In the event that any Holder notifies the Corporation that a stock certificate evidencing shares of Series A
Preferred Stock has been lost, stolen, destroyed or mutilated, the Corporation shall issue a replacement stock certificate evidencing
the Series A Preferred Stock identical in tenor and date (or if such certificate is being issued for shares not covered in a redemption
or conversion, in the applicable tenor and date) to the original stock certificate evidencing the Series A Preferred Stock, provided
that the Holder executes and delivers to the Corporation an affidavit of lost stock certificate and an agreement reasonably
satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such Series A Preferred
Stock certificate; provided, however, the Corporation shall not be obligated to re-issue replacement stock certificates
if the Holder contemporaneously requests the Corporation to convert or redeem the full number of shares evidenced by such lost,
stolen, destroyed or mutilated certificate.

 

Section 12. Amendment. Unless specifically approved by the Board of Directors
of the Corporation, the Articles of Incorporation of the Corporation shall not be amended, including any amendment through consolidation,
merger, combination or other transaction, in any manner which would materially alter or change the powers, preferences or special
rights of the Series A Preferred Stock so as to affect them adversely without the affirmative vote of the holders of at least
a majority of the outstanding shares of Series A Preferred Stock, voting together as a single class.

 

IN WITNESS WHEREOF, the Corporation
has caused this Certificate of Designation to be duly executed by an officer thereunto duly authorized this 15th day of November
2017.

 

BLOCKCHAIN INDUSTRIES, INC.

 

By: /s/ Olivia Funk                                     

Name: Olivia Funk

Title: Chief Executive Officer
and Chairman

 

 

 

 

 

 

 

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EXHIBIT
1

 

CONVERSION NOTICE

 

Reference
is made to the Certificate of Designation of the Series A Preferred Stock (the “Certificate of Designation”) of
BLOCKCHIAN INDUSTRIES, INC., a Nevada corporation (the “Corporation”). In accordance with and pursuant to the
Certificate of Designation, the undersigned hereby elects to have the Corporation convert the number of shares of Series A
Convertible Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”), of the Corporation,
indicated below into shares of Common Stock, par value $0.001 per share (the “Common Stock”), of the Corporation,
by tendering the stock certificate(s) representing the share(s) of Series A Preferred Stock specified below as of the date
specified below.

 

	Date of Conversion:
	 
	Number of Series A
	Preferred Stock to be converted:

 

	Stock certificate no(s). of Series A Preferred Stock to be converted:	______________________
	 	 
	Please confirm the following information:	______________________
	 	 
	Conversion Ratio:	______________________
	 	 
	Shares of Common Stock:	______________________

 

 

  

Please issue the Common Stock into which the Series A Preferred Stock are being converted and, if applicable,
any check drawn on an account of the Corporation in the following name and to the following address:

 

	 	Issue to:	__________________________________
	 	 	 
	 	Facsimile Number:	__________________________________
	 	 	 
	 	Authorization:	__________________________________
	 	 	By: _______________________________
	 	 	Title: ______________________________
	 	 	 
	 	 	 

 

 

 

    	 	5Exhibit 10.1

 

EQUITY TOKEN PURCHASE AGREEMENT

 

This
Equity Token Purchase Agreement (this “Agreement”) is dated December 19, 2017, by and between Chimes Broadcasting,
Inc., a Delaware corporation (“Chimes”) and Blockchain Industries, Inc., a Nevada Corporation (“Purchaser”).

 

RECITALS

 

WHEREAS,
Chimes is a Delaware corporation engaged in the business of creating a blockchain based music database and service (“Chimes
Network” or the “Project”);

 

WHEREAS,
Chimes plans to create and distribute and ERC-20 compatible utility token for use on the Chimes Network as well as equity tokens
(the “Equity Tokens”) which shall have the rights and preferences of the Chimes Series T Equity Tokens; and

 

WHEREAS,
Chimes desires to sell, and Purchaser desires to purchase a certain number of the Equity Tokens on the terms and subject to the
conditions set forth herein;

 

NOW THEREFORE,
in consideration of the foregoing, the covenants set forth in this Agreement and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

AGREEMENT

 

1.      
Issuance of the Equity Tokens. Subject to the terms and conditions of this Agreement, Chimes hereby issues to Purchaser
and Purchaser hereby receives from Chimes, 250,000 Equity Tokens (the “Purchased Tokens”) in exchange for an
aggregate purchase price of $200,000 ($.80 per token) (collectively, the “Purchase Price”). Chimes acknowledges
that the Purchase Price constitutes full and adequate consideration for the Equity Tokens.

 

2.      
Restrictions on Transfer. The Equity Tokens are “restricted securities” and may not be transferred except
in accordance with applicable laws and the Certificate of Incorporation, as amended.

 

3.                  
Seller’s Representations and Warranties. (i) Chimes is a corporation duly organized, validly existing and in
good standing under the laws of its jurisdiction of incorporation, (ii) Chimes has the absolute and unrestricted right, power and
authority to execute, deliver and perform its obligations under this Agreement and any other document, agreement or instrument
entered into in connection with this Agreement, (iii) the execution, delivery and performance of this Agreement by Chimes and consummation
of the transactions contemplated hereby by Chimes have been duly authorized by all necessary action on the part of Chimes and no
other act on the part of or on behalf of Chimes or the shareholders of Chimes is necessary to approve the execution and delivery
of this Agreement and performance by Chimes of its obligations hereunder, (iv) the board of directors of Chimes has, by unanimous
written consent, adopted resolutions approving this Agreement transactions contemplated hereby and thereby and such resolutions
have not been subsequently withdrawn or modified in any respect, (v) the stockholders of Chimes have, by written consent, adopted
resolutions approving this Agreement and any and all of the transactions contemplated hereby and thereby and such resolutions have
not been subsequently withdrawn or modified in any respect. and (vi) this Agreement has been duly executed and delivered by Chimes
and, subject to the execution hereof by Purchaser, constitutes a valid and binding obligation of Chimes, enforceable against it
in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium or other similar
laws affecting or relating to creditors’ rights generally, or general principles of equity.

 

4.      
Purchaser Representations and Warranties. In connection with Purchaser’s receipt of the Equity Tokens, Purchaser
hereby makes the investment representations listed on Exhibit A to Chimes as of the date of this Agreement. In addition,
Purchase acknowledges and agrees that the Equity Tokens are not currently ERC-20 compatible and may never be developed as a distributed
ledger token.

 

 

 

 

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5.      
Right of First Refusal. The Purchaser hereby agrees that the Equity Tokens are subject to a right of first refusal
in favor of Chimes as set forth on Exhibit B.

 

6.      
Risk Factors.

 

(a)   
Ethereum Blockchain. The Ethereum blockchain is prone to periodic congestion during which transactions can be delayed
or lost. Individuals may also intentionally spam the Ethereum network in an attempt to gain an advantage in purchasing cryptographic
tokens. Purchaser acknowledges and understands that Ethereum block producers may not include Purchaser’s transaction when
Purchaser wants or Purchaser’s transaction may not be included at all.

 

(b)   
Third Party Attacks. Transactions within the Project may be delayed or lost due to operational error or malicious
attacks by third parties. Purchaser acknowledges and understands that the last-closed ledger may not include Purchaser’s
transaction when Purchaser wants or expects and that Purchaser’s transaction may be excluded or discarded entirely.

 

(c)   
Ability to Transact or Resell. Purchaser may be unable to sell or otherwise transact in Equity Tokens at any time,
or for the price Purchaser paid. By purchasing Equity Tokens, Purchaser acknowledges, understands and agrees that: (a) there is
no guarantee or representation of liquidity for the Equity Tokens; and (b) Company is not and shall not be responsible for or liable
for the market value of Equity Tokens, the transferability and/or liquidity of Equity Tokens and/or the availability of any market
for Equity Tokens through third parties or otherwise.

 

(d)   
Token Security. Equity Tokens may be subject to expropriation and or/theft. Hackers or other malicious groups or
organizations may attempt to interfere with the Equity Tokens in a variety of ways, including, but not limited to, malware attacks,
denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, because the Ethereum platform
rests on open source software and Equity Tokens are based on open source software, there is the risk that Ethereum smart contracts
may contain intentional or unintentional bugs or weaknesses which may negatively affect the Equity Tokens or result in the loss
of Purchaser’s Equity Tokens, the loss of Purchaser’s ability to access or control Purchaser’s Equity Tokens
or the loss of ETH in Purchaser’s account. In the event of such a software bug or weakness, there may be no remedy and holders
of Equity Tokens are not guaranteed any remedy, refund or compensation.

 

(e)   
Access to Private Keys. Equity Tokens purchased by Purchaser may be held by Purchaser in Purchaser’s digital
wallet or vault, which requires a private key, or a combination of private keys, for access. Accordingly, loss of requisite private
key(s) associated with Purchaser’s digital wallet or vault storing Equity Tokens will result in loss of such Equity Tokens,
access to Purchaser’s Equity Token balance and/or any initial balances in blockchains created by third parties. Moreover,
any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet or
vault service Purchaser uses, may be able to misappropriate Purchaser’s Equity Tokens. Company is not responsible for any
such losses.

 

(f)     New
Technology. The Project and all of the matters set forth in the White Paper are new and untested. The Project might not
be capable of completion, implementation or adoption. It is possible that no blockchain utilizing the Project will ever be
launched and there may never be an operational platform. Even if the Project is completed, implemented and adopted, it
might not function as intended, and any tokens associated with a blockchain adopting the Project may not have functionality
that is desirable or valuable. Also, technology is changing rapidly, so the Equity Tokens and the Project may become
outdated.

 

(g)   
Tax Consequences. The purchase and receipt of Equity Tokens may have tax consequences for Purchaser. Purchaser is
solely responsible for Purchaser’s compliance with Purchaser’s tax obligations. Purchaser explicitly bears the sole
responsibility to determine whether the purchase and/or the ownership and/or use of the Token, the potential appreciation or depreciation
in the value of the Token over time, the sale and purchase of the Token and/or any other action or transaction related to the Project
have tax implications for Purchaser.

 

 

 

 

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(h)   
Reliance on Third-Parties. Even if completed, the Project will rely, in whole or partly, on third parties to adopt
and implement it and to continue to develop, supply, and otherwise support it.

There is no assurance
or guarantee that those third parties will complete their work, properly carry out their obligations, or otherwise meet anyone’s
needs, all of might have a material adverse effect on the Project.

 

(i)     
Failure to Map a Public Key to Purchaser’s Account. Failure of Purchaser to map a public key to Purchaser’s
account may result in third parties being unable to recognize Purchaser’s Equity Token balance on the Ethereum blockchain.

 

(j)     
Exchange & Counterparty Risks. If Purchaser sends ETH from an exchange or an account that Purchaser does not
control, Equity Tokens will be allocated to the account that has sent ETH; therefore, Purchaser may never receive or be able to
recover Purchaser’s Equity Tokens. Furthermore, if Purchaser chooses to maintain or hold Equity Tokens through a cryptocurrency
exchange or other third party, Purchaser’s Equity Tokens may be stolen or lost. In addition, third parties may not recognize
Purchaser’s claim to any derivative tokens if and when launched by third parties according to the distribution rules set
in the Project. By purchasing Equity Tokens, Purchaser acknowledges and agrees that Purchaser sends ETH through an exchange account
and/or holds Equity Tokens on a cryptocurrency exchange or with another third party at Purchaser’s own and sole risk.

 

(k)   
Changes to the Project. The Project is still under development as the Company is seeking to move the Project to the
block chain and Smart Contract System. The Project may undergo significant changes over time. Although Company intends for the
Project to have the features and specifications set forth in the White Paper, Company may make changes to such features and specifications
for any number of reasons, any of which may mean that the Chimes Network does not meet Purchaser’s expectations.

 

(l)     
Project Completion. The development of the Project may be abandoned for a number of reasons, including, but not limited
to, lack of interest from the public, lack of funding, lack of commercial success or prospects, or departure of key personnel.

 

(m) 
Lack of Interest. Even if the Project is finished, launched and adopted, the ongoing success of the Project relies
on the interest and participation of third parties. There can be no assurance or guarantee that there will be sufficient interest
or participation in the Project.

 

(n)   
Uncertain Regulatory Framework. The regulatory status of cryptographic tokens, digital assets and blockchain technology
is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether governmental authorities will regulate
such technologies. It is likewise difficult to predict how or whether any governmental authority may make changes to existing laws,
regulations and/or rules that will affect cryptographic tokens, digital assets, blockchain technology and its applications.

 

7.      
General Provisions.

 

(a)   
Choice of Law. This Agreement shall be governed by the internal substantive laws, but not the conflict of law rules,
of Delaware.

 

(b)   
Integration. This Agreement, including all exhibits hereto, represents the entire agreement between the parties with
respect to the receipt of the Equity Tokens by Purchaser and supersedes and replaces any and all prior written or oral agreements
regarding the subject matter of this Agreement including, but not limited to, any representations made during any interviews, relocation
discussions or negotiations whether written or oral.

 

(c)   
Notices. Any notice or other communication required or permitted to be given by either party hereto pursuant to the
terms of this Agreement shall be in writing and shall be deemed effectively given the earlier of (i) receipt, (ii) personal delivered,
(iii) transmission by facsimile or email (with evidence of transmission by the transmitting device), (iv) one business day after
being deposited with an overnight courier service or (v) four days after being deposited in the U.S. mail, first class with postage
prepaid and return receipt requested, and addressed to the parties at their respective principal business or residential (as applicable)
address or number or such other address or number as the party receiving such communication shall give the other party in writing.

 

 

 

 

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(d)   
Successors. Any successor to Chimes (whether direct or indirect and whether by purchase, merger, consolidation, liquidation
or otherwise) to all or substantially all of Chimes’s business or assets shall assume the rights and obligations under this
Agreement and agree expressly to perform the obligations under this Agreement in the same manner and to the same extent as Chimes
would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company”
shall include any successor to Chimes’s business or assets which executes and delivers the assumption agreement described
in this section or which becomes bound by the terms of this Agreement by operation of law. Subject to the restrictions on transfer
set forth in this Agreement, this Agreement shall be binding upon Purchaser and his or her heirs, executors, administrators, successors
and assigns.

 

(e)   
Assignment; Transfers. Except as set forth in this Agreement, this Agreement, and any and all rights, duties and
obligations hereunder, shall not be assigned, transferred, delegated or sublicensed by Purchaser without the prior written consent
of Chimes. Any attempt by Purchaser without such consent to assign, transfer, delegate or sublicense any rights, duties or obligations
that arise under this Agreement shall be void. Except as set forth in this Agreement, any transfers in violation of any restriction
upon transfer contained in any section of this Agreement shall be void, unless such restriction is waived in accordance with the
terms of this Agreement.

 

(f)    
Waiver. Either party’s failure to enforce any provision of this Agreement shall not in any way be construed
as a waiver of any such provision, nor prevent that party from thereafter enforcing any other provision of this Agreement. The
rights granted both parties hereunder are cumulative and shall not constitute a waiver of either party’s right to assert
any other legal remedy available to it. No waiver of any provision hereof shall be effective except in writing and signed by the
party against which such waiver is to be enforced, and no waiver shall constitute a future waiver except as expressly provided
in such waiver.

 

(g)   
Further Assurances. Purchaser shall execute any documents or instruments necessary or reasonably desirable in the
view of Chimes to carry out the purposes or intent of this Agreement.

 

(h)   
Survival. Notwithstanding anything to the contrary herein, Sections 2 through 5 of this Agreement shall survive consummation
of the transactions contemplated hereby.

 

(i)     
Severability. Should any provision of this Agreement be found to be illegal or unenforceable, the other provisions
shall nevertheless remain effective and shall remain enforceable to the greatest extent permitted by law.

 

(j)     
Rights as Holder of Equity Tokens. Subject to the terms and conditions of this Agreement, Purchaser shall be subject
to the provisions of the Certificate of Incorporation of Chimes (as amended, the “Certificate”) as they apply to holders
of Equity Tokens thereunder, at such time as Purchaser delivers to Chimes a fully executed copy of this Agreement and full payment
for the Equity Tokens.

 

(k)   
Splits, Dividends and Recapitalizations. All references to the number and Purchase Price of the Equity Tokens in
this Agreement shall be adjusted to reflect any Share split, Share dividend or other change in the Equity Tokens which may be made
after the date of this Agreement. If, from time to time there is (i) any interest dividend, interest split or other change in the
Equity Tokens, (ii) any dividend of cash or other property on the Equity Tokens, (iii) any merger or sale of all or substantially
all of the assets or other acquisition of Chimes or (iv) any conversion of the Equity Tokens into another class or series of securities,
any and all new, substituted or additional securities or cash or other consideration to which Purchaser is entitled by reason of
Purchaser’s ownership of the Equity Tokens shall immediately be included thereafter as “Equity Tokens” for purposes
of this Agreement.

 

 

 

 

    	 	4	 

     

    

 

(l)     
Arbitration. Any and all controversies, claims or disputes with anyone (including Chimes and any employee, officer,
director, stockholder or benefit plan of Chimes, in its capacity as such or otherwise) arising out of, relating to or resulting
from this Agreement, including any breach of this Agreement, shall be subject to binding arbitration to be held in the State of
Utah and administered by the American Arbitration Association (“AAA”) in accordance with the AAA’s rules
then in effect for the resolution of commercial disputes (the “Rules”) and California law. Disputes which Purchaser
agrees to arbitrate, and thereby AGREE TO WAIVE ANY RIGHT TO A TRIAL BY JURY, include any statutory claims under state or federal
law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act
of 1990, the Age Discrimination in Employment Act of 1967 and the Older Workers Benefit Protection Act. This agreement to arbitrate
applies to any disputes Chimes may have with Purchaser.

 

(m) 
Reliance on Counsel and Advisors. Purchaser acknowledges that he or she has had the opportunity to review this Agreement,
including all attachments hereto, and the transactions contemplated by this Agreement with his or her own legal counsel, tax advisors
and other advisors. Purchaser is relying solely on his or her own counsel and advisors and not on any statements or representations
of Chimes or its agents for legal, tax or other advice with respect to this investment or the transactions contemplated by this
Agreement. Purchaser is executing this Agreement voluntarily and without any duress or undue influence by Chimes or anyone else.

 

(n)   
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original,
but all of which together will constitute one and the same agreement. Facsimile copies of signed signature pages shall be binding
originals.

 

(Signature Page Follows)

 

 

 

 

 

 

 

 

 

    	 	5	 

     

    

 

IN WITNESS WHEREOF, the parties have executed this
Agreement as of the date first set forth above.

 

 

	 	COMPANY:
	 	 
	 	 
	 	CHIMES BROADCASTING, INC.
	 	 
	 	 
	 	By: /s/ Joseph Mohen                      
	 	 
	 	Name: Joseph Mohen
	 	 
	 	Title: Chief Executive Officer
	 	 
	 	PURCHASER:
	 	 
	 	 
	 	BLOCKCHAIN INDUSTRIES, INC.
	 	 
	 	 
	 	By: /s/ Patrick Moynihan                
	 	 
	 	Name: Patrick Moynihan
	 	 
	 	Title: CEO, Blockchain Industries Inc
	 	 
	 	Date: 19 December 2017

 

 

[Signature Page to Purchase Agreement]

 

    	 	6	 

     

    

 

Exhibit A

 

INVESTMENT REPRESENTATION STATEMENT

 

1.                  
Purchasing for Own Investment. Purchaser is purchasing the Equity Tokens solely for investment purposes, and not
for further distribution. Purchaser’s entire legal and beneficial ownership interest in the Equity Tokens is being purchased
and shall be held solely for Purchaser’s account, except to the extent Purchaser intends to hold the Equity Tokens jointly
with Purchaser’s spouse. Purchaser is not a party to, and does not presently intend to enter into, any contract or other
arrangement with any other person or entity involving the resale, transfer, grant of participation with respect to or other distribution
of any of the Equity Tokens. Purchaser’s investment intent is not limited to its present intention to hold the Equity Tokens
for the minimum capital gains period specified under any applicable tax law, for a deferred sale, for a specified increase or decrease
in the market price of the Equity Tokens, or for any other fixed period in the future.

 

2.                  
Qualified Purchaser. The Purchaser represents that it is a “Qualified Purchaser”, meaning Purchaser is
either (i) an “Accredited Investor” within the meaning of Rule 501 under the Securities Act of 1933 (the
“Securities Act”) in accordance with Exhibit C, (ii) a Non-US Person within the meaning of Regulation
S, or (iii) a non-accredited investor and the Purchaser’s investment in the Equity Tokens is within the limitations set forth
in Section 4(a)(6) of Regulation CF.

 

3.                  
Ability to Protect Own Interests. Purchaser can properly evaluate the merits and risks of an investment in the Equity
Tokens and can protect its own interests in this regard, whether by reason of Purchaser’s own business and financial expertise,
the business and financial expertise of certain professional advisors unaffiliated with Chimes with whom Purchaser has consulted,
or Purchaser’s preexisting business or personal relationship with Chimes or any of its officers, directors or controlling
persons.

 

4.                  
Informed About Chimes. Purchaser is sufficiently aware of Chimes’ business affairs and financial condition
to reach an informed and knowledgeable decision to acquire the Equity Tokens. Purchaser has had opportunity to discuss the plans,
operations and financial condition of Chimes with its officers, directors or controlling persons, and have received all information
it deems appropriate for assessing the risk of an investment in the Equity Tokens.

 

5.                  
Economic Risk. Purchaser realizes that the receipt of the Equity Tokens involves a high degree of risk, and that
Chimes’s future prospects are uncertain. Purchaser is able to hold the Equity Tokens indefinitely if required, and is able
to bear the loss of its entire investment in the Equity Tokens.

 

6.                  
Restricted Securities. Purchaser understands that the Equity Tokens are “restricted securities” in that
the sale of the Equity Tokens has not been registered under the Securities Act in reliance upon an exemption for non-public offerings.
In this regard, Purchaser also understands and agrees that: (a) Purchaser must hold the Equity Tokens for a period of not less
than twelve (12) months, unless any subsequent proposed resale is registered under the under the Securities Act of 1933, as amended
(the “Securities Act”), or unless an exemption from registration is otherwise available (such as Rule 4(a)(6)
or 144) and Chimes permits such resale and (b) Chimes is under no obligation to register any subsequent proposed resale of the
Equity Tokens.

 

(Remainder of Page Intentionally
Left Blank)

 

 

 

    	 	7	 

     

    

 

Exhibit B

 

RIGHT OF FIRST REFUSAL

 

Before
any Equity Tokens acquired by the Purchaser pursuant to this Agreement (or any beneficial interest in such Equity Tokens) may be
sold, transferred, encumbered or otherwise disposed of in any way (whether by operation of law or otherwise) by the Purchaser or
any subsequent transferee (each a “Holder”), such Holder must first offer such Equity Tokens or beneficial interest
to Chimes or its assignee as follows:

 

1.      
Notice of Proposed Transfer. The Holder shall deliver to Chimes a written notice stating: (i) the Holder’s
bona fide intention to sell or otherwise transfer the Equity Tokens; (ii) the name of each proposed transferee; (iii) the number
of Equity Tokens to be transferred to each proposed transferee; (iv) the bona fide cash price or other consideration for which
the Holder proposes to transfer the Equity Tokens; and (v) that by delivering the notice, the Holder offers all such Equity Tokens
to Chimes or its assignee pursuant to this Section and on the same terms described in the notice.

 

2.      
Exercise of Right of First Refusal. At any time within 30 days after receipt of the Holder’s notice, Chimes
or its assignee may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Equity Tokens
proposed to be transferred to any one or more of the proposed transferees.

 

3.      
Purchase Price. The purchase price for the Equity Tokens purchased by Chimes or its assignee under this Section shall
be the price listed in the Holder’s notice. If the price listed in the Holder’s notice includes consideration other
than cash, the cash equivalent value of the noncash consideration shall be determined by the Board of Directors of Chimes in its
sole discretion.

 

4.      
Payment. Payment of the purchase price shall be made, at the option of Chimes or its assignee, in cash (by check),
by cancellation of all or a portion of any outstanding indebtedness of the Holder to Chimes or its assignee, or by any combination
thereof within 30 days after receipt by Chimes of the Holder’s notice (or at such later date as is called for by such notice).

 

5.      
Holder’s Right to Transfer. If all of the Equity Tokens proposed in the notice to be transferred to a given
proposed transferee are not purchased by Chimes or its assignee as provided in this Section, then the Holder may sell or otherwise
transfer such Equity Tokens to that proposed transferee, provided that: (i) the transfer is made only on the terms provided
for in the notice, with the exception of the purchase price, which may be either the price listed in the notice or any higher price;
(ii) such transfer is consummated within 60 days after the date the notice is delivered to Chimes; (iii) the transfer is effected
in accordance with any applicable securities laws, and if requested by Chimes, the Holder shall have delivered an opinion of counsel
acceptable to Chimes to that effect; and (iv) the proposed transferee agrees in writing that the provisions of this Section shall
continue to apply to the transferred Equity Tokens in the hands of such proposed transferee. If any Equity Tokens described in
a notice are not transferred to the proposed transferee within the period provided above, then before any such Equity Tokens may
be transferred, a new notice shall be given to Chimes, and Chimes or its assignees shall again be offered the right of first refusal
described in this Section.

 

6.       Exception
for Certain Family Transfers. Notwithstanding anything to the contrary contained elsewhere in this Section, the transfer
of any or all of the Equity Tokens during the Holder’s lifetime or on the Holder’s death by will or intestacy to
the Holder’s spouse, child, father, mother, brother, sister, father- in-law, mother-in-law, brother-in-law,
sister-in-law, grandfather, grandmother, grandchild, cousin, aunt, uncle, niece, nephew, stepchild, or to a trust or other
similar estate planning vehicle for the benefit of the Holder or any such person, shall be exempt from the provisions of this
Section; provided that, in each such case, the transferee shall agree in writing to receive and hold the Equity Tokens
so transferred subject to all of the provisions of this Agreement, including but not limited to this Section, and there shall
be no further transfer of such Equity Tokens except in accordance with the terms of this Section.

 

7.      
Change of Control. For purposes of this Exhibit B, a “Change of Control” means either:
(i) the acquisition of Chimes by another person or entity by means of any transaction or series of related transactions (including
without limitation, any reorganization, merger or consolidation or stock transfer, but excluding any such transaction effected
primarily for the purpose of changing the domicile of Chimes or issuance by Chimes of its securities primarily for capital raising
purposes), unless Chimes’s stockholders of record immediately prior to such transaction or series of related transactions
hold, immediately after such transaction or series of related transactions, at least 50% of the voting power of the surviving or
acquiring entity; or (ii) a sale of all or substantially all of the assets of Chimes.

 

(Remainder of Page Intentionally Left Blank)

 

 

 

    	 	8	 

     

    

 

Exhibit C

 

INVESTOR STATUS

 

The Purchaser hereby represents
and warrants, pursuant to Section 2 of Exhibit A, that he, she or it is correctly and in all respects described by the category
or categories set forth below directly under which the Investor or its authorized representative has signed his, her or its name
(or initialed or otherwise indicated that each such category describes the Purchaser).

 

INVESTOR REPRESENTATIONS

 

Purchaser has represented and
warranted on the website/platform that (i) it is either an “Accredited Investor” (within the meaning
of Rule 501 under the Securities Act) because it meets one of the following items below, (ii) is a Non US Person under Regulation
S, or (iii) is not an Accredited Investor:1

 

	 	☐	(i) If an individual, Purchaser
                                     has a net worth, either individually or upon a joint basis with Purchaser’s spouse,
                                     of at least $1,000,000, or has had an individual income in excess of $200,000 for
                                     each of the two most recent years, or a joint income with Purchaser’s spouse in excess
                                     of $300,000 in each of those years, and has a reasonable expectation of reaching the same
                                     income level in the current year.
	 	 	 
		☐	(ii) Purchaser is an irrevocable trust with total assets in
excess of $5,000,000 whose purchase is directed by a person with such knowledge and experience in financial and business matters
that such person is capable of evaluating the merits and risks of the prospective investment.
	 	 	 

		☐	(iii)  Purchaser is a bank, insurance company, investment company
registered under Chimes Act, a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934 (the “Exchange
Act”), a business development company, a Small Business Investment

________________________________

1 The meaning of “net worth”
(for purposes of determining whether Purchaser is an “accredited investor”) means the excess of total assets at fair
market value over total liabilities. For purposes of this calculation,

 

		(a)	the amount of Purchaser’s total assets shall exclude the fair market value of Purchaser’s
primary residence, and

 

		(b)	the amount of Purchaser’s total liabilities shall include the amount
of such Purchaser’s mortgage and other indebtedness that is secured by Purchaser’s primary residence which

 

		(i)	exceeds the fair market value of Purchaser’s primary residence at
the time of Purchaser’s admission to Chimes, or

 

		(ii)	has been incurred by Purchaser within the 60 day period prior to Purchaser’s
admission to Chimes and remains outstanding on the date of Purchaser’s admission to Chimes (unless such indebtedness was
incurred as a result of the acquisition of Purchaser’s primary residence).

 

If, at
the time of Purchaser’s admission to Chimes, Purchaser has mortgage and other indebtedness that is described in both of clauses
(i) and (ii) above, then both amounts of indebtedness shall be included in the calculation of Purchaser’s total liabilities.

 

Company licensed by the
United States Small Business Administration, a plan with total assets in excess of $5,000,000 established and maintained by a state
for the benefit of its employees, or a private business development company as defined in Section 202(a)(22) of the United States
Investment Advisers Act of 1940, as amended.

 

		☐	(iv) Purchaser is an employee benefit plan and either all investment
decisions are made by a bank, savings and loan association, insurance company, or registered investment advisor, or Purchaser
has total assets in excess of $5,000,000 or, if such plan is a self-directed plan, investment decisions are made solely
by persons who are accredited investors.

 

		☐	(v)  Purchaser is a corporation, partnership, limited liability company
or business trust, not formed for the purpose of acquiring the Interests, or an organization described in Section 501(c)(3) of
the Code, in each case with total assets in excess of $5,000,000.

 

		☐	(vi) Purchaser is an entity in which all of the equity owners,
or a grantor or revocable trust in which all of the grantors and trustees, qualify under clause (i), (ii), (iii),
(iv) or (v) above or this clause (vi).

 

		☐	(vii)
                                         Purchaser cannot make any of the representations set forth in clauses (i) through (vi)
                                         above and is therefore not an Accredited Investor.
	 	 	 
	 	☐	(viii) Purchaser is a Non-US person under Regulation S.

 

 

 

 

 

 

 

 

    	 	9	 

     

    

 

Exhibit D

 

 

 

Purchaser shall wire funds to:

 

 

Bank:

 

Account Name:

 

Routing (ABA):

 

Account Number:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	10

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