Document:

Exhibit
10.15

 

DIRECTOR
SERVICE AGREEMENT

 

THIS
DIRECTOR SERVICE AGREEMENT (this “Agreement”) is made, entered into, and effective as of this ____ day of __________ 2022
(the “Effective Date”)

 

BY
AND BETWEEN:

 

Organicell
Regenerative Medicine, Inc. (“Organicell” or the “Company”), a Nevada corporation.

 

AND:

 

                                 ,
(the “Director”)

 

NOW
THEREFORE IN CONSIDERATION of the mutual covenants and agreements hereinafter contained and for other good and valuable consideration
(the receipt and sufficiency of which is acknowledged by each party), the parties agree as follows:

 

ARTICLE
1: APPOINTMENT, DUTIES AND OBLIGATIONS, COMPENSATION

 

1.1.
The Company hereby appoints the Director as a member of the Company’s Board of Directors (the “Board”) and the Director
accepts such appointment.

 

1.2.
You will hold your membership on the Board in accordance with Nevada Revised Statues Chapter 78 (“NRS78”) and the Company’s
Articles of Incorporation and Bylaws, each as amended from time to time (“the Bylaws”). Nothing in this letter shall be taken
to exclude or vary the terms of NRS78, the Articles of Incorporation or the Bylaws as they apply to the Director as a director of the
Company.

 

1.3.
The duties and obligations of the Director are as set forth on Schedule ‘A’ attached hereto.

 

1.4.
The Company will pay to the Director the compensation indicated in Schedule ‘A’ (the “Compensation”), in full
payment for serving as a member of the Board, and the Director will accept such compensation as full payment for the Director’s
service as a director.

 

1.5.
In addition to the Compensation, the Company shall reimburse the Director payment of the following out-of-pocket expenses within 30 days
of receiving satisfactory written documentation in accordance with the Company’s expense reimbursement policies in effect from
time:

 

	 	●	Reasonable
    transportation and lodging costs incurred for the Director to attend any meeting of the Boards, provided the Chief Executive Officer
    or the Chief Financial Officer of the Company has such previously approved such costs in writing.; and

 

	 	●	Any
    other expense pre-approved in writing by the Chief Executive Officer or the Chief Financial Officer of the Company.

 

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1.4.
The Director shall not be entitled to recover from the Company reimbursement for any expenses that were not approved in advance by the
Chief Executive Officer or the Chief Financial Officer of the Company.

 

ARTICLE
2: TERM AND TERMINATION

 

2.1.
The term of this Agreement shall commence on the Effective Date set forth on the first page, and, unless earlier terminated pursuant
to Article 2.2 of this Agreement, terminate upon the earliest of the following occurring (the “Term”):

 

	 	●	The
    date that the Director ceases to serve as a director of the Company as a result of not being re-elected by the Company’s stockholders
    or not being nominated to management’s slate of nominees to the Board; or

 

	 	●	The
    date that the Director is removed by action of the Company’s stockholders in accordance with NRS78, the Company’s Bylaws;
    or

 

	 	●	The
    date that the Director resigns from the Board.

 

2.2.
Notwithstanding any other provision of this Agreement, if and when any one of the following events occurs, then, and in addition to any
other remedy or remedies available to the Company, this Agreement shall be immediately and automatically terminated (unless otherwise
decided by the Board), and the Company shall not be under any further obligation to the Director:

 

(a)
the Director commits any breach and/or repeated and/or continual breach of any of Director’s obligations under this Agreement;

 

(b)
the Director has made any representation or warranty made in this Agreement that is untrue or incorrect;

 

(c)
the Director breaches, is in breach of, or has breached any covenant in this Agreement; (d) the Director fails to attend any two consecutive
Board meetings;

 

(e)
the Director dies;

 

(f)
the Director is or becomes prohibited by any law, regulation, rule, practice direction, or practice rule from taking up the post of director
or senior officer or the Director loses the qualifications to act as a director;

 

(g)
the Director is or becomes unable to perform his duties under this Agreement due to health reasons, disability, or being of unsound mind,
unless the Company can accommodate the Director’s health impairment or disability without the Company incurring undue hardship;

 

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(h)
the Director is guilty of any serious misconduct or serious neglect in the discharge of the Director’s duties hereunder;

 

(i)
the Director’s actions or omissions bring the name or reputation of the Company, or any of Company’s affiliates, subsidiaries,
or parent (each a “Group Member”) into serious disrepute or prejudices the business interests of the Company or any Group
Member;

 

(j)
the Director is sued for criminal liability or convicted of any criminal offence other than an offence which in the reasonable opinion
of the board of directors of the Company does not affect the Director’s position as a director (bearing in mind the nature of the
duties in which the Director is engaged and the capacities in which the Director is engaged); or

 

(k)
the Director is sued, fined, penalized, or censured for alleged or actual violation of any securities law or regulation in the United
States or elsewhere.

 

2.3.
Notwithstanding any other provisions of this Agreement, the provisions of Articles 5, 6, 7, and 8 of this Agreement and all obligations
of each party that have accrued before the effective date of termination of this Agreement that are of a continuing nature will survive
termination or expiration of this Agreement.

 

ARTICLE
3: INDEPENDENT CONTRACTOR

 

3.1.
The Director shall be an independent contractor and not the servant, employee, or agent of the Company, it being recognized, however,
that to the extent the provisions of this Agreement result in the creation of an agency relationship to allow the Director to perform
certain of the Services on behalf of the Company, then the Director shall, in that context, be the agent of the Company, as the case
may be.

 

3.2.
The Director will promptly pay, and be solely responsible for paying, as the same become due and payable as a result or consequence of
monies or other consideration paid or payable by the Company to the Director as Compensation pursuant to this Agreement, any and all
applicable, federal, state and local income taxes.

 

3.3.
The Director agrees to indemnify and save harmless the Company against and for all and any claims, assessments, penalties, interest charges
and legal fees and disbursements and taxes incurred as result of having to defend same made against the Company as a result of the Director’s
failure to comply with Section 3.2 of this Agreement, or as a result of any decisions or investigations made by any government agency
or body in connection with the relationship between the parties hereto.

 

3.4.
The Director is not entitled to participate in any benefits or pension plan provided by the Company to any of its employees.

 

3.5.
Subject to compliance with the provisions of this Agreement, the Director may, at any time or times during the Term, carry on the business
of providing services to the general public either alone or in association or partnership with another or others, so long as such provision
of services does not: create a conflict of interest with the interests of the Company; hinder the Director from his commitment to fulfill
his duties and obligations as a director to the Company.

 

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ARTICLE
4: PERSONAL SERVICE AND NON-ASSIGNMENT

 

4.1.
This Agreement is an agreement relating to the provision of services by the Director personally. Therefore, the Director’s rights,
interests, obligations, duties, etc. hereunder shall not be transferred, assigned or delegated to any third party.

 

ARTICLE
5: OWNERSHIP AND RETURN OF PROPERTY

 

5.1.
All property including, but not limited to, files, manuals, equipment, securities, and monies of any and all customers of the Company
related to the Director fulfilling his duties and obligations as a director that are, from time to time, in the possession or control
of the Director will be, at all times, the exclusive property of the Company. The Director shall forthwith deliver all aforesaid property
to the Company on the earlier of:

 

(a)
the expiration or termination of this Agreement; or

 

(b)
upon the request, at any time, by the Company.

 

5.2.
The Director agrees that upon termination of this Agreement, he shall at once deliver to the Company all books, manuals, reports, documents,
records, effects, money, securities, whether in print or stored electronically, or other property belonging to the Company or for which
the Company is liable to others which are in his possession, charge, control, or custody.

 

ARTICLE
6: CONFIDENTIALITY

 

6.1.
The Director acknowledges and agrees that the Company has certain confidential information which includes knowledge of trade secrets
whether patented or not, computer programs, research and development data, testing and evaluation plans, business plans, opportunities,
forecasts, products, strategies, proposals, suppliers, sales, manuals, work programs, financial and marketing information, customer lists
or names, and information regarding customers, contracts and accounts of the Company whether printed, stored electronically, or provided
verbally (the “Confidential Information”). Notwithstanding the foregoing, Confidential Information shall not include:

 

(a)
information that has become generally available to the public other than as a result of a disclosure in breach of this Agreement;

 

(b)
information that is lawfully received on a non-confidential basis by the Director from a source other than the Company or any of its
respective subsidiaries, parent company, affiliates, directors, officers, employees, agents, advisors or other representatives and such
source is not prohibited from transmitting or disclosing the data or information by reason of any contractual, legal or fiduciary obligation;
or

 

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(c)
information that the Director must disclose pursuant to the requirements of law, provided that the Director provides prompt written notice
to the Company of such required disclosure so that the Company may seek a protective order or other appropriate remedy or waive compliance
with the requirements of this Agreement. In the event that such protective order or other remedy is not obtained, or the Company does
not waive compliance with the requirements of this Agreement, the Director agrees to furnish only that portion of the information that
he is advised by his legal counsel in writing that he is legally required to disclose and will exercise reasonable efforts to obtain
reliable assurance that confidential treatment will be accorded to such information.

 

6.2.
The Director acknowledges and agrees that the Confidential Information developed or acquired by the Company is among the Company’s
most valuable assets and its value may be destroyed by dissemination or unauthorized use.

 

6.3.
The Director shall use the same level of care to prevent any unauthorized use or disclosure of the Confidential Information and Intellectual
Property as the Director exercises in protecting his or her own information of a similar nature, but in no event less than a reasonable
standard of care. The Director shall hold the Confidential Information in confidence and shall not, without the prior written consent
of the Company, disclose the Confidential Information to any third party or make use of the Confidential Information disclosed to it
for any purpose other than conducting in good faith the duties as a director of the Company,

 

ARTICLE
7: CONFLICT AND NON-COMPETITION

 

7.1.
Subject to Section 7.6 of this Agreement, the Director will not, during the Term, provide any service to any person where the performance
of that service may or does, in the reasonable opinion of the Director or the actual knowledge of the Director, give rise to a conflict
of interest between the obligations of the Director under this Agreement, and the obligations of the Director to such other person.

 

7.2.
Subject to Section 7.6 of this Agreement, if the Director is asked by any person otherwise than pursuant to this Agreement, to perform
a service the performance of which in the reasonable or actual opinion of the Director might result in the Director breaching Section
7.1, then the Director shall forthwith notify the Board of the particular circumstances and the Board will thereafter, in its sole discretion,
promptly determine and notify the Director whether or not the Director may, in light of those circumstances and Section 7.1, perform
that service.

 

7.3.
Subject to Section 7.5 of this Agreement, the Director agrees that he will not, without the prior written consent of the Company, at
any time within twelve (12) months following termination or expiration of this Agreement, on his own behalf, or on behalf of any person
competing or endeavoring to compete with the Company, directly or indirectly solicit, endeavor to solicit, or seek to enter into any
agreement with any person that:

 

(a)
is a customer of the Company as of the date of termination or expiration of this Agreement;

 

(b)
was a customer of the Company at any time within twelve (12) months prior to the date of termination or expiration of this Agreement;
or

 

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(c)
has been pursued as a prospective customer by or on behalf of the Company at any time within twelve (12) months prior to the date of
termination or expiration of this Agreement, and in respect of whom the Company has not determined to cease all such pursuit.

 

7.4.
The Director agrees and confirms that the restrictions in Section 7.3 are reasonable and waives all defenses to the strict enforcement
of them by the Company.

 

7.5.
The Director agrees and confirms that Sections 7.3 (a), 7.3 (b), and 7.3 (c) are each separate and distinct covenants, severable one
from the other, and if any such covenant or covenants are determined to be unenforceable in whole or in part, such unenforceability shall
attach only to the covenant or covenants as determined, and all other such covenants shall continue in full force and effect.

 

ARTICLE
8: INDEMNIFICATION

 

8.1.
The Company commits to use its commercially reasonable efforts to secure a directors’ and officers’ insurance policy (“D
& O Insurance”) in an amount and on terms determined by the Board in its sole discretion, as soon as commercially reasonable.
Further, the Director shall be entitled to the maximum indemnification by the Company as is prescribed under NRS78 and the Company’s
Articles of Incorporation and Bylaws (each as amended to date). The Company will enter into an indemnification agreement with the director
evidencing same.

 

ARTICLE
9: NOTICES

 

9.1.
Any notice permitted or required under the Agreement must be in writing and be sent to the receiving party by overnight courier at the
following address:

 

	 	If
    to the Company, to: 	 	 	 
	 	 	 	 	 
	 	 	 	Attention:
    Chief Executive Officer	 
	 	 	 	 	 
	 	If
    to the Director, to:	 	 	 
	 	 	 	 	 

 

All
notices or other communications hereunder shall be deemed given upon receipt.

 

9.2.
Either party may, from time to time, advise the other party by notice in writing of any change of address of the party giving such notice
and from and after the giving of such notice the address therein specified will, for the purposes of Section 9.1, be conclusively deemed
to be the address of the party giving such notice.

 

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ARTICLE
10: OWNERSHIP OF WORK

 

10.1.
The Director hereby assigns to the Company his entire right, title and interest in and to all discoveries and improvements, patentable
or otherwise, trade secrets and ideas, writings and copyrightable material, which may be conceived by the Director or developed or acquired
by him during the Term, which may pertain directly or indirectly to the business of the Company or any of its subsidiaries, parent company,
or affiliates (the “Work Product”). The Director agrees to disclose fully all such developments to the Company upon the request
of the board of directors of the Company, its Chief Executive Officer, or its Chief Financial Officer, which disclosure shall be made
in writing promptly following any such request. The Director shall, upon the request of the Company, its Chief Executive Officer, or
its Chief Financial Officer, execute, acknowledge and deliver to the Company all instruments and do all other acts which are necessary
or desirable to enable the Company or any of its subsidiaries to file and prosecute applications for, and to acquire, maintain and enforce,
all patents, trademarks and copyrights in all countries in connection with any component of the Work Product.

 

10.2.
The Director agrees to assign, on an ongoing basis throughout the Term, exclusively to the Company in perpetuity, all right, title and
interest of any kind whatsoever, in and to the Work Product, including any and all copyrights thereto (and the exclusive right to register
copyrights). Accordingly, all rights in and to the Work Product, including any materials derived therefrom or based thereon and regardless
of whether any such Work Product is actually used by the Company, shall from its creation be owned exclusively by the Company, and the
Director will not have or claim to have any rights of any kind whatsoever in such Work Product. Without limiting the generality of the
foregoing, Director will not make any use of any of the Work Product in any manner whatsoever without the Company’s prior written
consent, which may be withheld at the sole discretion of the Company.

 

ARTICLE
11: GENERAL

 

11.1.
Entire Agreement. This Agreement constitutes the entire Agreement between the parties with respect to all matters herein, and
there are no other agreements in connection with this subject matter except as specifically set forth or referred to in this Agreement.
This Agreement supersedes any and all prior agreements and understandings relating to the subject matter. Both parties acknowledge that
neither of the parties has been induced to enter into this Agreement by any representation or writing not incorporated into this Agreement.

 

11.2.
Governing Law. This Agreement will in all respects be governed exclusively by and construed in accordance with the laws of the
State of Florida. In the event of any dispute regarding the performance or terms hereof, the prevailing party in any litigation shall
be entitled to an award of reasonable attorneys’ fees and costs of suit, together with any other relief awarded hereunder or in
accordance with governing law.

 

11.3.
Jurisdiction and Venue. For any claim, demand, action, cause of action, proceeding, or counterclaim to interpret or enforce or
otherwise arising from or relating to this Agreement, each party irrevocably consents to the exclusive jurisdiction of any state or federal
courts sitting in Miami-Dade County, Florida. To the maximum extent permitted under applicable law, each party waives any defense that
those courts lack jurisdiction over the party; waives any claim of an inconvenient or improper forum; waives any bond, security, or surety
requirements of those courts; and shall not remove or attempt to remove the proceedings to any other court.

 

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11.4.
Amendments. This Agreement may only be amended if such amendment is confirmed in writing by both parties.

 

11.5.
Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all parties hereto had all
signed the same document. All counterparts shall be construed together and shall constitute one and the same original document. Each
party may deliver a counterpart signature page by facsimile transmission.

 

11.6.
Severability. If any portion of this Agreement is declared invalid or unenforceable, in whole or in part, it shall not be deemed
to affect or impair the validity or enforceability of any other covenant or provisions herein, and such unenforceable portion shall be
severed from the remainder of the Agreement.

 

11.7.
Waivers. A waiver of any default, breach, or non-compliance under this Agreement is not effective unless in writing and signed
by the party to be bound by the waiver. No waiver will be inferred from or implied by any failure to act or delay in acting by a party
in respect of any default, breach or non-observance or by anything done or omitted to be done by the other party. Any waiver by a party
of any default, breach or non-compliance under this Agreement will not operate as a waiver of that party’s right under this Agreement
in respect of any continuing or subsequent default, breach or non-observance.

 

11.8.
Headings. The headings used in this Agreement are for the convenience of reference only and do not form part of or affect the
interpretation of this Agreement.

 

11.9.
Schedules. Any Schedules to this Agreement are an integral part of this Agreement as if set out at length in the body of this
Agreement.

 

11.109.
Conflict. In the event that there is a conflict or inconsistency between the wording of any of this Agreement and any Schedule,
the Schedule shall govern.

 

11.11.
Further Assurances. The parties agree to do all such other things and to take all such other actions as may be necessary or desirable
to give full effect to the terms of this Agreement.

 

11.12.
Number and Gender. Unless the context requires otherwise, words importing the singular include the plural and vice versa and words
importing gender include all genders.

 

11.13.
“Person”. In this Agreement, the term “person” is to be broadly interpreted and includes an individual,
a corporation, a partnership, a trust, an unincorporated organization, the government of a country or any political subdivision thereof,
or any agency or department of any such government, and the executors, administrators or other legal representatives of an individual
in such capacity;

 

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11.14.
Statute. Any reference to a statute in this Agreement, whether or not that statute has been defined or cited, includes all regulations
made under it, any amendments made to it and in force, and any statute passed in replacement of or in substitution for it.

 

IN
WITNESS WHEREOF the parties have duly executed this Agreement by signing below as of the Effective Date.

 

	Organicell
    Regenerative Medicine, Inc.	 	 	 
	 	 	 	 	 
	By:		 		 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

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Schedule
‘A’

 

Duties
and Obligations

 

The
Director is engaged as a director of the Company and shall have the following duties and obligations:

 

1.
Normal director responsibilities. Carry out and assume all responsibilities of a director of the Company as required by NRS78, other
applicable law, the Company’s Articles of Incorporation (as amended), the Company’s Bylaws (as amended), the Company’s
Code of Ethics (as amended), resolutions adopted by the directors or stockholders of the Company, and other regulations and internal
rules relating to the directors of the Company;

 

2.
Attending Meetings. Use best efforts to attend scheduled meetings of the Board and the Company’s stockholders in person, by telephone,
or via video conference or other means of electronic communication;

 

3.
Acting as a Fiduciary. Represent the stockholders and the interests of Company as a fiduciary;

 

4.
Participating. Participate as a full voting member of Company’s Board in setting overall objectives; reviewing, discussing, and
approving plans and programs of operation; formulating general policies; offering advice and counsel; serving on Board Committees as
required by a majority of the Board; reviewing management performance; participating in the appointment and removal of officers of the
Company; participating in disclosure of Company information in accordance with the securities regulations of the United States and elsewhere
as applicable; and reviewing internal and external financial and disclosure controls and procedures; and

 

5.
Informing. Fully inform the Board, upon request from time to time, of the matters and things done, and to be done, by the Director in
connection with the fulfillment of the Director’s duties and obligations and, if so requested by the Board, submit such information
in writing to the Board in a timely manner.

 

Compensation

 

The
Compensation payable to the Director for provision of the Services shall be as follows:

 

Upon
commencement of each year of the Term, the Company shall issue to the Directors Warrants to acquire up to One Million (1,000,000) shares
of the Company’s common stock at an exercise price equal to fair market value of the common stock as of the date of grant. The
Warrants shall be exercisable for a period of ten (10) years from the date of grant and shall vest in equal monthly installment of Eighty-Three
Thousand Three Hundred Thirty-Three (83,333.33), subject to continued service by the director as a Director. The Warrant will be in the
standard form used by the Company for Warrants of this nature. The Warrants and the underlying shares of common stock will be “restricted
securities” as defined in Rule 144 under the Securities Act of 1933, as amended, and subject to the transfer restrictions applicable
thereunder and elsewhere in federal and applicable state securities laws.

 

    Page  10 of 10Exhibit
4.1

 

THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

US
$71,500.00

 

PROPANC
BIOPHARMA, INC.

8%
CONVERTIBLE REDEEMABLE NOTE

DUE
MARCH 21, 2023

 

FOR
VALUE RECEIVED, Propanc Biopharma, Inc. (the “Company”) promises to pay to the order of GS CAPITAL PARTNERS, LLC and its
authorized successors and Permitted Assigns, defined below, (the “Holder”), the aggregate principal face amount of
Seventy One Thousand Five Hundred Dollars exactly (U.S. $71,500.00) on March 21, 2023 (the “Maturity Date”) and to
pay interest on the principal amount outstanding hereunder at the rate of 8% per annum commencing on September 21, 2022. The interest
will be paid to the Holder in whose name this 8% Convertible Redeemable Note (this “Note”) is registered on the records of
the Company regarding registration and transfers of this Note. This Note shall contain a $4,000 original issue discount such that the
purchase price shall be $67,500. The principal of, and interest on, this Note are payable at 1 East Liberty Street, Suite 600, Reno,
NV 85901, initially, and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof from
time to time. The Company will pay each interest payment and the outstanding principal due upon this Note before or on the Maturity Date,
less any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer addressed to such Holder
at the last address appearing on the records of the Company. The forwarding of such check or wire transfer shall constitute a payment
of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this Note to the extent of the sum
represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined below) pursuant to paragraph 4(b) herein.
Permitted Assigns means any “qualified person”, “permitted assigns” or “prospective transferee” acquiring
all or a portion of this Note accompanied by an Opinion of Counsel, all in accordance with the terms provided in Sections 2(f) and 5(g)
of the Securities Purchase Agreement by and between the Holder and the Company dated as of September 21, 2022 (the “Securities
Purchase Agreement”).

 

This
Note is subject to the following additional provisions:

 

1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested by the
Holder surrendering the same. No service charge will be made for such registration or transfer or exchange, except that Holder shall
pay any tax or other governmental charges payable in connection therewith and for the cost of any Opinion of Counsel as maybe required
under Section 5(g) of the Securities Purchase Agreement. To the extent that Holder subsequently transfers, assigns, sells or exchanges
any of the multiple lesser denomination notes, Holder acknowledges that it will provide the Company with an Opinion of Counsel as provided
for in Sections 2(f) and 5(g) of the Securities Purchase Agreement (“Opinions of Counsel”).

 

    	

	_____
	Initials

    	 

    

 

2.
The Company shall be entitled to withhold from all payments any amounts required to be withheld under applicable laws.

 

3.
This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended (“Act”),
applicable state securities laws and Sections 2(f) and 5(f) of the Securities Purchase Agreement. Any attempted transfer to a non-qualifying
party shall be treated by the Company as void. Prior to due presentment for transfer of this Note, the Company and any agent of the Company
may treat the person in whose name this Note is duly registered on the Company’s records as the owner hereof for all other purposes,
whether or not this Note be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary.
Any Holder of this Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements
set forth in Section 4(a), and any prequalified prospective transferee of this Note, also is required to give the Company written confirmation
that this Note is being converted (“Notice of Conversion”) in the form annexed hereto as Exhibit A. The date
of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion Date. All notices of conversion will
be accompanied by an Opinion of Counsel.

 

4.
(a) The Holder of this Note is entitled, at its option, at any time after cash payment, to convert all or any amount of the principal
face amount of this Note then outstanding into shares of the Company’s common stock (the “Common Stock”) at a price
for each share of Common Stock at a price (“Conversion Price”) of $0.002 per share (the “Fixed Price”).
Provided, however that in the event, the Company’s Common Stock trades below $0.0014 per share for more than five
(5) consecutive trading days, then the Fixed Price shall be equal to $0.0009 per share. In the Event of default the Conversion Price
shall be equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets on which
the Company’s shares are then traded or any exchange upon which the Common Stock may be traded in the future (the “Exchange”),
for the ten prior trading days including the day upon which a Notice of Conversion is received by the Company (provided
such Notice of Conversion is duly executed by the Holder and is delivered together with a duly executed Opinion of Counsel, by fax or
other electronic method of communication to the Company after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to
include the same day closing price). For purposes of the above calculations, a day shall not be considered a trading day if there was
no trading volume for the Company’s Common Stock for that particular day. If the shares have not been delivered within 2 business
days, the Notice of Conversion may be rescinded. Such conversion shall be effectuated by the Company delivering the shares of Common
Stock to the Holder within 2 business days of receipt by the Company of the Notice of Conversion. Accrued, but unpaid interest shall
be subject to conversion. No fractional shares or scrip representing fractions of shares will be issued on conversion, but the number
of shares issuable shall be rounded to the nearest whole share. To the extent the Conversion Price of the Company’s Common Stock
closes below the par value per share, the Company will take all steps necessary to solicit the consent of the stockholders to reduce
the par value to the lowest value possible under law or to conduct a reverse split at a ratio determine by the Company’s board
of directors. The Company agrees to honor all conversions submitted pending this increase or such stock split, as applicable. In the
event the Company experiences a DTC “Chill” on its shares, the conversion price shall be decreased to 55% instead of 65%
while that “Chill” is in effect. In no event shall the Holder be allowed to effect a conversion if such conversion, along
with all other shares of Company Common Stock beneficially owned by the Holder and its affiliates would exceed 4.99% of the outstanding
shares of the Common Stock of the Company (which may be increased up to 9.9% upon 60 days’ prior written notice by the Holder to
the Company). The Conversion Price, conversion discount and lookback period (collectively the “Conversion Terms”) will be
adjusted in favor of the Holder if the Company issues securities to another party with more favorable Conversion Terms.

 

    	2

     

    

 

(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 8% per annum. Interest shall be paid by the Company
in Common Stock (“Interest Shares”). Holder may, at any time, send in a Notice of Conversion to the Company for Interest
Shares based on the formula provided in Section 4(a) above. The dollar amount converted into Interest Shares shall be all or a portion
of the accrued interest calculated on the unpaid principal balance of this Note to the date of such notice.

 

(c)
The Note may be prepaid or assigned with the following penalties/premiums:

 

	PREPAY DATE	 	PREPAY AMOUNT
	≤ 60 days	 	110% of principal plus accrued interest
	61- 120 days	 	120% of principal plus accrued interest
	121-180 days	 	125% of principal plus accrued interest

 

This
Note may not be prepaid after the 180th day. Such redemption must be closed and funded within 3 days of giving notice of redemption
of the right to redeem shall be null and void. Any partial prepayment shall be allocated in accordance with the chart above with respect
to principal, premium and interest.

 

(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of related
transactions, (ii) a reclassification, capital reorganization (excluding an increase in authorized capital) or other change or exchange
of outstanding shares of the Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation
or merger of the Company with or into another person or entity in which the Company is not the surviving entity (other than a merger
which is effected solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or
exchange of outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred
to as a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash for 150%
of the principal amount, plus accrued but unpaid interest through the date of redemption, or at the election of the Holder, such Holder
may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into shares of Common
Stock immediately prior to such Sale Event at the Conversion Price.

 

    	3

     

    

 

(e)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection with which
this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder of this Note shall
have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and number of shares of stock or other
securities or property (including cash) receivable upon such reclassification, capital reorganization or other change, consolidation
or merger by a holder of the number of shares of Common Stock that could have been purchased upon exercise of the Note and at the same
Conversion Price, as defined in this Note, immediately prior to such Sale Event. The foregoing provisions shall similarly apply to successive
Sale Events. If the consideration received by the holders of Common Stock is other than cash, the value shall be as determined by the
Board of Directors of the Company or successor person or entity acting in good faith.

 

5.
No provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal
of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

6.
The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest, notice of
dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for hereunder
and shall be directly and primarily liable for the payment of all sums owing and to be owing hereto.

 

7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be incurred by the
Holder in collecting any amount due under this Note.

 

8.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company;
or

 

(b)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written statements heretofore
or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or the Securities Purchase
Agreement under which this note was issued shall be false or misleading in any material respect; or

 

(c)
The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or obligation of the
Company under this Note or any other note issued to the Holder; or

 

(d)
The Company shall (1) become insolvent (which does not include a “going concern opinion”); (2) admit in writing its inability
to pay its debts generally as they mature; (3) make an assignment for the benefit of creditors or commence proceedings for its dissolution;
(4) apply for or consent to the appointment of a trustee, liquidator or receiver for its or for a substantial part of its property or
business; (5) file a petition for bankruptcy relief, consent to the filing of such petition or have filed against it an involuntary petition
for bankruptcy relief, all under federal or state laws as applicable; or

 

    	4

     

    

 

(e)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without its
consent and shall not be discharged within sixty (60) days after such appointment; or

 

(f)
Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody or control
of the whole or any substantial portion of the properties or assets of the Company; or

 

(g)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of two hundred fifty thousand dollars ($250,000)
in the aggregate, shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid, unvacated,
unbonded or unstayed for a period of fifteen (15) days or in any event later than five (5) days prior to the date of any proposed sale
thereunder; or

 

(h)
The Company has defaulted on or breached any term of any other note of similar debt instrument into which the Company has entered and
failed to cure such default within the appropriate grace period; or

 

(i)
The Company shall have its Common Stock delisted from an exchange (including the OTC Markets) or, if the Common Stock trades on an exchange,
then trading in the Common Stock shall be suspended for more than 10 consecutive days or ceases to file its reports under the Securities
Exchange Act of 1934, as amended, with the SEC;

 

(j)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within 2 business
days of its receipt of a Notice of Conversion which includes a duly executed Opinion of Counsel from a reputable law firm expressing
an opinion which supports the removal of a restrictive legend; or

 

(k)
The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the written request of the Holder.

 

(l)
The Company shall be delinquent in its periodic report filings with the Securities and Exchange Commission (subject to applicable extensions);
or

 

(m)
The Company shall cause to lose the “bid” price for its stock in a market (including the OTC marketplace or other exchange).

 

    	5

     

    

 

Then,
or at any time thereafter, unless cured within 5 days, and in each and every such case, unless such Event of Default shall have been
waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option of the Holder
and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without presentment, demand,
protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly waived, anything herein
or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately, and without expiration
of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or any other rights or remedies
afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24% per annum or, if such rate is usurious
or not permitted by current law, then at the highest rate of interest permitted by law. In the event of a breach of Section 8(j) the
penalty shall be $250 per day the shares are not issued beginning on the 4th day after the conversion notice was delivered
to the Company. This penalty shall increase to $500 per day beginning on the 10th day. In an event of a breach of Section
8(h) the Holder may elect to utilize the same remedy available under the defaulted interest and such remedy shall be incorporated by
reference into the terms of this Note. The penalty for a breach of Section 8(m) shall be an increase of the outstanding principal amounts
by 20%. Further, if a breach of Section 8(l) occurs or is continuing after the 6 month anniversary of the Note, then the Holder shall
be entitled to use the lowest closing bid price during the delinquency period as a base price for the conversion instead of the Conversion
Price.

 

If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging an
attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’ fees and
other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day from the
time of the Holder’s written notice to the Company.

 

9.
In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid or unenforceable,
such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent possible, and the validity
and enforceability of the remaining provisions of this Note will not in any way be affected or impaired thereby.

 

10.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed by the
Company and the Holder.

 

11.
The Company represents that it is not a “shell” issuer and has never been a “shell” issuer or that if it previously
has been a “shell” issuer that at least 12 months have passed since the Company has reported form 10 type information indicating
it is no longer a “shell” issuer. Further. The Company will instruct its counsel to either (i) write a 144 opinion to allow
for salability of the conversion shares or (ii) accept such opinion from Holder’s counsel.

 

    	6

     

    

 

12.
The Company shall issue irrevocable transfer agent instructions reserving 38,610,000 shares of its Common Stock for conversions under
this Note (the “Share Reserve”). Upon full conversion of this Note, any shares remaining in the Share Reserve shall be cancelled.
The Company shall pay all transfer agent costs and legal fees associated with issuing and delivering the shares to the Holder. If such
amounts are to be paid by the Holder, it may deduct such amounts from the amounts being converted. The Company should at all times reserve
4x the amount of shares required if the Note would be fully converted. The Holder may reasonably request increases from time to time
to reserve such amounts. The Company will instruct its transfer agent to provide the outstanding share information to the Holder in connection
with its conversions.

 

13.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits, recapitalizations
etc. This notice shall be given to the Holder as soon as possible under law.

 

14.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the
applicable provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest permitted under
applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim or take advantage of
any law that would prohibit or forgive the Company from paying all or a portion of the principal or interest on this Note.

 

15.
This Note shall be governed by and construed in accordance with the laws of Nevada applicable to contracts made and wholly to be performed
within the State of Nevada and shall be binding upon the successors and assigns of each party hereto. The Holder and the Company hereby
mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State of Nevada or in the Federal courts
sitting in the county or city of either Washoe County, Nevada or Clark County, Nevada. This Agreement may be executed in counterparts,
and the facsimile transmission of an executed counterpart to this Agreement shall be effective as an original.

 

[Signature
page follows]

 

    	7

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

Dated:
________________

 

	 	PROPANC BIOPHARMA, INC.
	 	 
	 	By:	 
	 	Name:	James Nathanielsz
	 	Title:	 CEO

 

    	8

     

    

 

EXHIBIT A

 

NOTICE
OF CONVERSION

 

(To
be Executed by the Registered Holder in order to Convert the Note)

 

The
undersigned hereby irrevocably elects to convert $___________ of the above Note into _________ Shares of Common Stock of Propanc Biopharma,
Inc. (“Shares”) according to the conditions set forth in such Note, as of the date written below.

 

If
Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes and
charges payable with respect thereto.

 

	Date of Conversion:	 	 
	Applicable Conversion Price:	 	 
	Signature:	 	 
	 	[Print Name of Holder and Title of Signer]	 
	Address:	 	 
	 	 	 

 
	SSN or EIN:	 	 

	Shares are to be registered in the following name:	 	 

 

	Name:	 	 
	Address:	 	 
	Tel:	 	 	 
	Fax:	 	 
	SSN or EIN:  	 	 

 

Shares are to be sent or delivered to the following account:

 

	Account Name:	 	 
	Address:	 	 

 

    	9

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