Document:

CONVERTIBLE PROMISSORY
NOTE

 

THIS CONVERTIBLE PROMISSORY
NOTE (THE “NOTE,””) HAS NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED,
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL IN THE FORM, SUBSTANCE
AND SCOPE REASONABLY SATISFACTORY TO THE COMPANY THAT EACH NOTE MAY BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF, UNDER AN EXEMPTION
FROM REGISTRATION UNDER THE 1933 ACT AND SUCH STATE SECURITIES LAWS.

 

ALTEROLA BIOTECH, INC

Convertible Promissory
Note for US$50,000 due June 8th, 2022

US$50,000

Issuance Date: JUNE 8th, 2021

 

For
value received, ALTEROLA BIOTECH , INC, a Nevada corporation (the "Company"), hereby promises to pay to
the order of GOLDEN SQUARE EQUITY PARTNERS LIMITED . (together with its successors, representatives, and permitted assigns, the
"Holder"), in accordance with the terms hereinafter provided, up to an aggregate of FIFTY THOUSAND
DOLLARS (US$50,000) (the "Principal Amount") plus accrued and unpaid Interest (as defined in below Section 1.2)
on June 8th, 2022 ( the "Maturity Date").

 

All payments
under or pursuant to each Note refer to and shall be made in United States Dollars in immediately available funds to the Holder
at the address of the Holder first set forth above or at such other place as the Holder may designate from time to time in writing
to the Company.

 

ARTICLE I

 

GENERAL TERMS

 

Section 1.1
FUNDS ADVANCED FOR EXPENSES. The Note has been executed and delivered pursuant to the invoice dated as of June 8th, 2021
(the "Invoice Payment Amount ") by and between the Company and the purchaser listed therein. Capitalized terms
used and not otherwise defined herein shall have the meanings set forth for such terms in the invoice payment amount.

Interest.
The Principal Amount applicable to the Note advanced to the Company pursuant to the Purchase Agreement shall bear interest from
date at the rate of eight percent (8%) per annum, calculated daily in arrears based on a three hundred and sixty (360) day year
(the "Interest").

 

Section
1.3 Payment of Principal and Interest. On the Maturity Date, the Principal Amount andall accrued and applied interest
shall be repaid.

 

Section
1.4 Payment on Non-Business Days. Whenever any payment to be made shall be due on a Saturday, Sunday or a public
holiday under the laws of the State of Nevada, such payment may be due on the next succeeding Business Day. The term
“Business Day” shall mean any day except Saturday,

 

    	 		 

    	 

    

 

Sunday and any day that shall be a federal legal
holiday or a day on which banking institutions in the state of Nevada are authorized or required by law or other governmental action
to close.

 

Section
1.5 Transfer. Each Note may be transferred or sold, subject to the provisions of Section 4.8, or pledged, hypothecated or
otherwise granted as security by the Holder.

 

Section
1.6 Replacement. Upon receipt of a duly executed, notarized and unsecured written statement from the Holder with respect
to the loss, theft or destruction of the applicable Note (or any replacement hereof), and without requiring an indemnity bond or
other security, or, in the case of a mutilation of this applicable Note, upon surrender and cancellation of such applicable Note,
the Company shall issue a new Note, of like tenor and amount, in lieu of such lost, stolen, destroyed or mutilated applicable Note.

 

ARTICLE
II

 

EVENTS OF DEFAULT; REMEDIES

 

Section 2.1
Events of Default. The occurrence of any of the following events shall be an "Event of Default" under the
applicable Note:

 

		(a)	the Company shall fail to make the payment of any outstanding Principal
Amount or Interest on the date such payment is due hereunder;

 

		(b)	the Company’s notice to the Holder, including by way of public announcement,
at any time, of its inability to comply or its intention not to comply with proper requests for conversion of the applicable Note
into shares of Common Stock;

 

		(c)	the Company shall fail to (i) timely deliver the shares of Common Stock upon
conversion of the applicable Note, or (ii) make the payment of any fees and/or liquidated damages under the applicable Note or
the Purchase Agreement, which failure in the case of items (i) and (ii) of this Section 2.1(d) is not remedied within three (3)
Business Days after the incurrence thereof;

 

		(d)	default shall be made in the performance or observance of (i) any covenant,
condition or agreement contained in the applicable Note (other than as set forth in clause (d) of this Section 2.1) and such default
is not fully cured within five (5) Business Days after the occurrence thereof or (ii) any covenant, condition or agreement contained
in the Purchase Agreement, or all ancillary documents referred to in those agreements (collectively, the “Transaction
Documents,” which is not covered by any other provisions of this Section 2.1 and such default is not fully cured within
five (5) Business Days after the occurrence thereof;

 

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		(e)	any representation, warranty or covenant made by the Company herein or in
the Purchase Agreement or any other Transaction Document shall prove to have been false or incorrect or breached on the date as
of which made;

 

		(f)	the Company shall (i) apply for or
consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee, liquidator or the like of
itself or of all or a substantial part of its property or assets, (ii) make a general assignment for the benefit of its creditors,
(iii) commence a voluntary case under the U.S. Bankruptcy Code (as now or hereafter in effect) or under the comparable laws of
any jurisdiction (foreign or domestic), (iv) file a petition seeking to take advantage of any bankruptcy, insolvency, moratorium,
reorganization or other similar law affecting the enforcement of creditors’ rights generally, (v) acquiesce in writing to
any petition filed against it in an involuntary case under U.S. Bankruptcy Code (as now or hereafter in effect) or under the comparable
laws of any jurisdiction (foreign or domestic), (vi) issue a notice of bankruptcy or winding down of its operations or issue a
press release regarding same, or (vii) take any action under the laws of any jurisdiction (foreign or domestic) analogous to any
of the foregoing;

 

		(g)	a proceeding or case shall be
                                                                                                             commenced in respect of the Company, without its application or consent, in any court of competent jurisdiction,
                                                                                                             seeking (i) the liquidation, reorganization, moratorium, dissolution, winding up, or composition or readjustment of its
                                                                                                             debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of itself or of all or any substantial
                                                                                                             part of its property or assets in connection with the liquidation or dissolution of the Company or (iii) similar relief in
                                                                                                             respect of it under any law providing for the relief of debtors, and such proceeding or case described in clause (i), (ii) or
                                                                                                             (iii) shall continue undismissed, or unstayed and in effect, for a period of sixty (60) days or any order
                                                                                                             for relief shall be entered in an involuntary case under U.S. Bankruptcy Code (as now or
                                                                                                             hereafter in effect) or under the comparable laws of any jurisdiction (foreign or domestic) against the Company or
                                                                                                             action under the laws of any jurisdiction (foreign or domestic) analogous to any of the foregoing shall be taken with respect
                                                                                                             to the Company and shall continue undismissed, or unstayed and in effect for a period of sixty (60) days;

 

		(h)	the failure of the Company to pay any amounts due to the Holder (other than
outstanding Principal Amount and Interest referred to in Section 2.1(a), the failure of which to pay when due shall be an immediate
Event of Default) herein within three (3) Business Days of receipt of notice to the Company;

 

		(i)	actions, suits, proceedings, claims or disputes pending, at law, in equity,
in arbitration or before any governmental authority, arise against the Company, which result in equitable relief or monetary judgment(s)
or liens against the Company;

 

		(j)	the Collateral fails to perfect, or is delayed from perfection; or

 

		(k)	the Company fails to perform or comply with any term, provision or condition
of any other agreement, document or other instrument evidencing or supporting any
indebtedness owing from the Company to the Holder, whether currently existing or incurred after the date of this Agreement.

 

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Section
2.2 Remedies Upon An Event of Default. If an Event of Default, with respect to each applicable Note, shall have
occurred and shall be continuing, the Holder may at any time at its option, (a) declare the entire unpaid balance of the
Principal Amount and all Interest accrued but unpaid thereon of each applicable Note, and all other amounts owing or payable
hereunder or under any Transaction Document, due and payable, and thereupon, the same shall be accelerated and so due and
payable, without presentment, demand, protest, or notice, all of which are hereby expressly unconditionally and irrevocably
waived by the Company; provided, however, that upon the occurrence of an Event of Default described in (i)
Section 2.1(g) or 2.1(h) (in the case of Section 2.1(h) upon the expiration of the 60-day period mentioned therein), the
outstanding Principal Amount and all Interest accrued but unpaid thereon of each applicable Note, and all other amounts owing
or payable hereunder or under any Transaction Document, shall be automatically due and payable, and (ii) Sections 2.1(a)-(f)
and 2.1(i) demand the prepayment of each applicable Note pursuant to Section 3.6, (b) subject to Section 3.4, demand that the
Principal Amount and all Interest accrued but unpaid thereon of each applicable Note, and all other amounts owing or payable
hereunder or under any Transaction Document, then-outstanding shall be converted into shares of Common Stock at a Conversion
Price (as defined in Section 3.2(a) hereof) per share calculated pursuant to Section 3.1    hereof
assuming that the date that the Event of Default occurs is the Conversion Date (as defined in Section 3.1),
or (c) exercise or otherwise enforce any one or more of the Holder’s rights, powers, privileges, remedies and interests
under this Note, the Purchase Agreement, other Transaction Document or applicable law.
If the entire unpaid balance of the Principal Amount, together with accrued and unpaid Interest thereon, is not paid
when due at maturity, whether on the Maturity Date or any earlier date as a result of acceleration of
the applicable Note(s) pursuant to the terms hereof, then interest shall accrue on the outstanding Principal Amount
from the date of such Event of Default at the rate of 18% per annum. No course of delay on the part
of the Holder shall operate as a waiver thereof or otherwise prejudice the right of the Holder. No remedy conferred
hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute
or otherwise.

 

ARTICLE III

 

CONVERSION; ANTIDILUTION; PREPAYMENT

 

Section
3.1 Conversion. On any date(s) (each a “Conversion Date”) elected by the Holder following
the Issuance Date, until the fifth anniversary of the Issuance Date, the Note may be converted at the option of the Holder
from time to time, in whole or in part, into such number of fully paid and non- assessable shares of Common Stock as is
determined by dividing that portion of the outstanding Principal Amount plus any
accrued Interest under each applicable Note as of such Conversion Date by the Conversion Price (as defined in Section
3.2(a) and subject to Section 3.2(b)) then in effect on the Conversion Date; provided, however,
that the Conversion Price shall also be subject to adjustment as described in Section 3.4 below. The Holder shall
deliver each Note, as applicable, to the Company at the address designated in the Purchase Agreement at such time that each
Note, as applicable, is fully converted. With respect to partial conversions of the
applicable Note, the Company shall keep written records of the amount of the applicable Note converted as of each
Conversion Date.

 

Section 3.2Conversion Price.

 

		(a)	The term "Conversion Price" shall mean US$0.001 per share of Common Stock.

 

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Section 3.3Mechanics of Conversion.

 

(a)
Not later than three (3) Trading Days after any Conversion Date, the Company or its designated transfer agent, as applicable,
shall issue and deliver to the Holder, as specified in the Holder’s Conversion
Notice, registered in the name of the Holder or its designee, the number of shares of Common Stock to which the Holder
shall be entitled, that represent the number of shares of Common Stock being acquired upon the conversion of the applicable
Note (the "Delivery Date"). If in the case of any Conversion Notice such Common Stock certificate or
certificates are not delivered to or as directed by the Holder by the Delivery Date, the Holder
shall be entitled by written notice to the Company at anytime on or before its receipt of such Common Stock
certificate or certificates thereafter, to rescind such conversion, in which event the Company shall immediately return
the applicable Note if tendered for conversion, whereupon the Company and the
Holder shall each be restored to their respective positions immediately prior to the delivery of such notice of
revocation. A "Conversion Notice" means the notice of
conversion, substantially in the form of Exhibit A, delivered by the Holder to the Company on the Conversion Date. The
term “Trading Day” shall mean any day on which the Common Stock is listed or quoted and traded on any
other national securities exchange, market, trading or quotation facility on which the Common Stock is then listed or traded,
or, if the Common Stock is not then listed or traded, any Business Day. In such event, the Holder shall have ten Business
Days in which to submit a Conversion Notice, following which any rights of conversion herein shall terminate

 

Section 3.4Adjustment of Conversion Price.

 

		(a)	The Conversion Price shall be subject to adjustment from time to time as follows:

 

		(i)	Adjustments for Stock Splits and Combinations. If the Company shall
at any time or from time to time after the initial Issuance Date, effect a stock split of the outstanding
Common Stock, the applicable Conversion Price in effect immediately prior to the stock split shall be proportionately decreased.
If the Company shall at any time or from time to time after the initial Issuance Date, combine the outstanding shares of Common
Stock, the applicable Conversion Price in effect immediately prior to the combination shall be proportionately increased. Any adjustments
under this Section 3.4(a)(i) shall be effective at the close of business on the date the stock split or combination occurs.

 

		(ii)	Adjustments for Certain Dividends and Distributions. If the Company
shall at any time or from time to time after the initial Issuance Date, make or issue or set a record date for the determination
of holders of Common Stock entitled to receive a dividend or other distribution payable in shares of Common Stock, then, and in
each event, the applicable Conversion Price in effect immediately prior to such event shall be decreased as of the time of such
issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying,
the applicable Conversion Price then in effect by a fraction:

    	 	5	 

    	 

    

		(1)	the numerator of which shall be the total number of shares of Common Stock
issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and

 

(2)                   
the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior
to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable
in payment of such dividend or distribution.

 

		(iii)	Adjustment for Other Dividends and Distributions. If the Company
shall at any time or from time to time after each applicable Issuance Date, make or issue or set a record date for the determination
of holders of Common Stock entitled to receive a dividend or other distribution payable in any form other than shares of Common
Stock, then, and in each event, an appropriate revision to the applicable Conversion
Price shall be made and provision shall be made (by adjustments of the Conversion
Price or otherwise) so that the Holder shall receive upon conversions thereof, in addition to the number of shares of Common Stock
receivable thereon, the number of securities of the Company which the Holder would have received had this Note been converted into
Common Stock on the date of such event and had thereafter, during the period from the date
of such event to and including the Conversion Date, retained such securities (together with any distributions payable thereon
during such period), giving application to all adjustments called for during such period under this Section 3.4(a)(iii) with respect
to the rights of the Holder; provided, however, that if such record date shall have been fixed and such dividend
is not fully paid or if such distribution is not fully made on the date fixed therefor, the Conversion Price shall be adjusted
pursuant to this Section 3.4(a)(iii) as of the time of actual payment of such dividends or distributions.

 

		(iv)	Adjustments for Reclassification, Exchange or Substitution. If the
Common Stock issuable upon conversion of each applicable Note at any time or from time to time after the Issuance Date shall be
changed to the same or different number of shares of any class or classes of stock, whether by reclassification, exchange, substitution
or otherwise (other than by way of a stock split or combination of shares or stock dividends provided for in Sections 3.4(a)(i),
(ii) and (iii), or a reorganization, merger, consolidation, or sale of assets provided
for in Section 3.4(a)(v)), then, and in each event, an appropriate revision to the Conversion Price shall be made and provisions
shall be made (by adjustments of the Conversion Price or otherwise) so that the Holder shall have the right thereafter to convert
each applicable Note into the kind and amount of shares of stock and other securities receivable upon reclassification, exchange,
substitution or other change, by holders of the number of shares of Common Stock into which each such applicable Note might have
been converted immediately prior to such reclassification, exchange, substitution or other change, all subject to further adjustment
as provided herein.

 

		(v)	Adjustments for Reorganization, Merger, Consolidation or Sales of Assets.
If at any time or from time to time after the Issuance Date there shall be a capital reorganization of the Company (other than
by way of a stock split or combination of shares or stock dividends or distributions provided for in Section 3.4(a)(i), (ii)

 

    	 	6	 

    	 

    

 

and (iii), or a reclassification,
exchange or substitution of shares provided for in Section 3.4(a)(iv)), or a merger or consolidation of the Company with or into
another corporation where the holders of outstanding voting securities of the Company prior to such merger or consolidation do
not own over fifty percent (50%) of the outstanding voting securities of the merged or consolidated entity, immediately after such
merger or consolidation, or the sale of all or substantially all of the Company’s properties or assets to any other person
(an "Organic Change"), then as a part of such Organic Change an appropriate revision to the Conversion Price shall
be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the Holder shall have the right
thereafter to convert each applicable Note into the kind and amount of shares of stock and other securities or property of the
Company or any successor corporation resulting from Organic Change. In any such case, appropriate adjustment shall be made in the
application of the provisions of this Section 3.4(a)(v) with respect to the rights of the
Holder after the Organic Change to the end that the provisions of this Section 3.4(a)(v) (including any adjustment in the
applicable Conversion Price then in effect and the number of shares of stock or other securities deliverable upon conversion of
each applicable Note) shall be applied after that event in as nearly an equivalent manner as may be practicable.

 

		(vii)	Consideration for Stock. In case any shares of Common Stock or any
Common Stock Equivalents shall be issued or sold:

 

(1)                   
in connection with any merger or consolidation in which the Company is the surviving corporation (other than any
consolidation or merger in which the previously outstanding shares of Common Stock of the Company shall be changed to
or exchanged for the stock or other securities of another corporation), the amount of consideration therefor shall be, deemed
to be the fair value, as determined reasonably and in good faith by the Board of Directors of the Company, of such portion of the
assets and business of the nonsurviving corporation as such Board of Directors may determine to be attributable to such shares
of Common Stock, Common Stock Equivalents, rights or warrants or options, as the case may be; or

 

(2)                   
in the event of any consolidation or merger of the Company in which the Company is not the surviving corporation
or in which the previously outstanding shares of Common Stock of the Company shall be changed into or exchanged for the stock or
other securities of another corporation, or in the event of any sale of all or substantially all of the assets of the Company for
stock or other securities of any corporation, the Company shall be deemed to have issued a number of shares of its Common Stock
for stock or securities or other property of the other corporation computed on the basis of the actual exchange ratio on which
the transaction was predicated, and for a consideration equal to the fair market value on the date of such transaction of all such
stock or securities or other property of the other corporation. If any such calculation
results in adjustment of the applicable Conversion Price, or the number of shares of Common Stock issuable upon conversion of each
Note, the determination of the applicable Conversion Price or the number of shares of Common Stock issuable upon conversion of
the

 

    	 	7	 

    	 

    

 

Note immediately prior
to such merger, consolidation or sale, shall be made after giving effect to such adjustment of the number of shares of Common Stock
issuable upon conversion of the Note. In the event Common Stock is issued with other shares or securities or other assets of the
Company for consideration which covers both, the consideration computed as provided in this Section 3.5(vii) shall be allocated
among such securities and assets as determined in good faith by the Board of Directors of the Company.

 

		(b)	Record Date. In case the Company shall take record of the holders
of its Common Stock for the purpose of entitling them to subscribe for or purchase Common Stock or Common Stock Equivalents, then
the date of the issue or sale of the shares of Common Stock shall be deemed to be such record date.

 

		(c)	Certain Issues Excepted. Anything herein to the contrary notwithstanding,
the Company shall not be required to make any adjustment to the Conversion Price in connection with

(i)   
securities issued (other than for cash) in connection with a merger, acquisition, or consolidation, except as provided
for in Section 3.4(a)(v), (ii) securities issued pursuant to a bona fide firm-underwritten public offering of the Company’s
securities, (iii) securities issued pursuant to the conversion or exercise of convertible or exercisable securities issued or outstanding
on or prior to the date hereof or issued pursuant to the Purchase Agreement,

(iv) securities issued in
connection with strategic license agreements or other partnering arrangements so long as such issuances are not for the purpose
of raising capital, (v) Common Stock issued or options to purchase Common Stock granted or issued pursuant to the Company’s
stock option plans and employee stock purchase plans as they now exist and (vi) the payment of any accrued interest in shares of
Common Stock pursuant to each Note.

 

		(d)	No Impairment. The Company shall not, by amendment of its Certificate
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 Company, but will at all times in good faith, assist in the carrying out of all the provisions of this Section
3.4 and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder under
the Agreement against impairment.

 

		(e)	Certificates as to Adjustments. Upon occurrence of each adjustment
or readjustment of the Conversion Price or number of shares of Common Stock issuable upon conversion of each applicable Note pursuant
to this Section 3.4, the Company at its expense shall promptly compute such adjustment or readjustment in accordance with the terms
hereof and furnish to the Holder a certificate setting forth such adjustment and readjustment, showing in detail the facts upon
which such adjustment or readjustment is based. The Company shall, upon written request of the Holder, at any time, furnish or
cause to be furnished to the Holder a like certificate setting forth such adjustments
and readjustments, the applicable Conversion Price in effect at the time, and the number of shares of Common Stock and the amount,
if any, of other securities or property which at the time would be received upon the conversion
of each applicable Note. Notwithstanding the foregoing, the Company shall not be obligated to deliver a certificate unless such
certificate would reflect an increase or decrease of at least one percent (1%) of such adjusted amount.

 

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Section 3.5Taxes; No Fractional Shares; Reservation
of Shares.

 

		(a)	Issue Taxes. The Company shall pay any and all issue and other taxes,
excluding federal, state or local income taxes, that may be payable in respect of any issue or delivery of shares of Common Stock
on conversion of each Note pursuant thereto; provided, however, that the Company shall not be obligated to pay any
transfer taxes resulting from any transfer requested by the Holder in connection with any such conversion.

 

		(b)	Fractional Shares. No fractional shares of Common Stock shall be
issued upon conversion of each Note.

 

		(c)	Reservation of Common Stock. The Company shall at all times when each
Note shall be outstanding, reserve and keep available out of its authorized but unissued Common Stock, such number of shares of
Common Stock as shall from time to time be sufficient to effect the conversion of the Note. The Company shall, from time to time
in accordance with Nevada corporate law, with applicable securities law and regulations, and with its constitutive documents, increase
the authorized number of shares of Common Stock if at any time the unissued number of authorized shares shall not be sufficient
to satisfy the Company’s obligations under this Section 3.5(c).

 

		(d)	Regulatory Compliance. If any shares of Common Stock to be reserved
for the purpose of conversion of each applicable Note require registration or listing with or approval of any governmental authority,
stock exchange or other regulatory body under any federal or state law or regulation or otherwise before such shares may be validly
issued or delivered upon conversion, the Company shall, at its sole cost and expense, in good faith and as expeditiously as possible,
endeavor to secure such registration, listing or approval, as the case may be.

 

Section 3.6Prepayment.

 

		(a)	Prepayment Upon
an Event of Default. Notwithstanding anything to the contrary contained
herein, upon the occurrence of an Event of Default described in Sections 2.1(a)-(i), the Holder shall have the right, at such Holder’s
option, to require the Company to prepay (prior to the Maturity Date) in cash all or a portion of the applicable Note at a price
equal to the aggregate outstanding Principal Amount and accrued but unpaid Interest of the applicable Note (the "Event
of Default Prepayment Price"). Nothing in this Section 3.6(a) shall limit the Holder’s rights under Section 2.2.

 

		(b)	Prepayment at the Election of the Company. Notwithstanding anything
to the contrary contained in the Notes, at any time during the period beginning on the advance date of any installment of the Purchase
Amount and ending on the date that is prior to the Conversion Date, the Company shall have the right, exercisable on not less than
three (3) Trading Days prior written notice to the Holder, to prepay in cash the applicable portion of the then- outstanding portion
of the Purchase Amount plus the then-outstanding portion of any accrued and unpaid Interest thereon as at the date fixed
for prepayment, in full, in accordance with this Section 3.6 (such prepayment amount, the “Optional Prepayment Amount”).
Any notice of prepayment hereunder (an "Optional Prepayment Notice") shall be delivered by the Company to the
Holder at its registered addresses and shall state: (1) that the Company is exercising
its right to prepay each applicable Note, and (2) the date of prepayment which shall be not more than three (3) Trading Days from
the date of the Optional Prepayment Notice.

 

    	 	9	 

    	 

    

 

Section
3.7 No Rights as Shareholder. Nothing contained in each Note shall be construed as conferring upon the Holder, prior to
the conversion of each Note, the right to vote or to receive dividends or to consent or to receive notice as a shareholder in respect
of any meeting of shareholders for the election of directors of the Company or of any other matter, or any other rights as a shareholder
of the Company.

 

ARTICLE IV

 

MISCELLANEOUS

 

Section 4.1Notices.

 

		(a)	Any notice, demand, request, waiver or other communication required or permitted
to be given hereunder shall be in writing and shall be effective (a) upon hand delivery by telex (with correct answer back received),
telecopy or facsimile at the address or number designated in the Purchase Agreement (if delivered on a Business Day during normal
business hours where such notice is to be received), or the first Business Day following such delivery (if delivered other than
on a Business Day during normal business hours where such notice is to be received) or (b) on the second Business Day following
the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur. The Company will give written notice to the Holder at least ten (10) days prior to the date on which
the Company takes a record (x) with respect to any dividend or distribution upon the Common Stock, (y) with respect to any pro
rata subscription offer to holders of Common Stock or (z) for determining rights to vote with respect to any Major Transaction,
dissolution, liquidation or winding-up and in no event shall such notice be provided to such holder prior to such information being
made known to the public. The Company will also give written notice to the Holder at least ten (10) days prior to the date on which
any Major Transaction, dissolution, liquidation or winding-up will take place and in no event shall such notice be provided to
the Holder prior to such information being made known to the public.

 

		(b)	A "Major Transaction" shall be deemed to have occurred
at such time as any of the following events:

 

		(i)	the consolidation, merger or other business combination of the Company with
or into another person (other than (A) pursuant to a migratory merger effected solely for the purpose of changing the jurisdiction
of incorporation of the Company or

(B) a consolidation, merger
or other business combination in which the Company is the surviving entity and the shareholders of the Company’s voting power
immediately prior to the transaction continue after the transaction to hold, directly or indirectly, the voting power of the surviving
entity or entities necessary to elect a majority of the members of the board of directors (or their equivalent if other than a
corporation) of such entity or entities);

 

		(ii)	the sale or transfer of more than fifty percent (50%) of the
Company’s assets (based

 

    	 	10	 

    	 

    

 

on the fair market value
as determined in good faith by the Company’s Board of Directors) other than
inventory in the ordinary course of business in one or a related series of transactions; or

 

		(iii)	closing of a purchase, tender or exchange offer made to the shareholders
of more than fifty percent (50%) of the outstanding shares of Common Stock in which
more than fifty percent (50%) of the outstanding shares of Common Stock were tendered
and accepted.

 

Section
4.2 Governing Law. The Note shall be governed by and construed in accordance with the internal laws of the State of Nevada,
without giving effect to any of the conflicts of law principles which would result in the application of the substantive law of
another jurisdiction. The Note shall not be interpreted or construed with any presumption against the party causing the Note to
be drafted.

 

Section
4.3 Headings. Article and section headings in the Note are included herein for purposes of
convenience of reference only and shall not constitute a part of these Note for any other purpose.

 

Section
4.4 Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in the Note
shall be cumulative and in addition to all other remedies available under the Note, at law or in equity (including, without
limitation, a decree of specific performance and/or other injunctive relief), no remedy contained herein shall be deemed a
waiver of compliance with the provisions giving rise to such remedy and nothing herein shall limit the Holder’s right
to pursue actual damages for any failure by the Company to comply with the terms of the Note. Amounts set forth or provided
for herein with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be
received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company
(or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause
irreparable and material harm to the Holder and that the remedy at law for any such breach may be inadequate. Therefore, the
Company agrees that, in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all
other available rights and remedies, at law or in equity, to seek and obtain such equitable relief, including but not limited
to an injunction restraining any such breach or threatened breach, without the necessity of showing economic loss and without
any bond or other security being required.

 

Section 4.5
Enforcement Expenses. The Company agrees to pay all costs and expenses of enforcement of the Note, including, without limitation,
reasonable attorneys’ fees and expenses.

 

Section
4.6 Binding Effect. The obligations of the Company and the Holder set forth herein shall be binding upon the successors
and assigns of each such party, whether or not such successors or assigns are permitted by the terms hereof.

 

Section 4.7
Amendments. The Note may not be modified or amended in any manner except in writing executed by the Company and the Holder.

 

Section
4.8 Compliance with Securities Laws. The Holder acknowledges that the Note are being acquired solely for the Holder’s
own account and not as a nominee for any other party, and for investment, and that the Holder shall not offer, sell or otherwise
dispose of the Note. The Note and any Note issued in substitution or replacement therefor shall be stamped or imprinted with a
legend in substantially the following form:

 

    	 	11	 

    	 

    

 

"THIS
CONVERTIBLE PROMISSORY NOTE ("NOTE")
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR APPLICABLE STATE SECURITIES
LAWS, AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE COMPANY OF
AN OPINION OF COUNSEL IN THE FORM, SUBSTANCE AND SCOPE REASONABLY SATISFACTORY TO THE COMPANY THAT EACH NOTE MAY BE SOLD, TRANSFERRED,
OR OTHERWISE DISPOSED OF, UNDER AN EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT AND SUCH STATE SECURITIES LAWS."

 

Section
4.9 Consent to Jurisdiction. Each of the Company and the Holder (i) hereby irrevocably submits to the non-exclusive
jurisdiction of the State of Nevada for the purposes of any suit,action or proceeding
arising out of or relating to these Note and (ii) hereby waives, and agrees not to assert in any such suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction of such court, that the suit, action or
proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper. Each of the
Company and the Holder consents to process being served in any such suit, action or proceeding by mailing a copy thereof to
such party at the address in effect for notices to it under the Purchase Agreement and agrees that such service shall
constitute good and sufficient service of process and notice thereof. Nothing in this Section 4.9 shall affect or limit any
right to serve process in any other manner permitted by law. Each of the Company and the Holder hereby agree that the
prevailing party in any suit, action or proceeding arising out of or relating to these Note shall be entitled to
reimbursement for reasonable legal fees from the non-prevailing party.

 

Section 4.10
Parties in Interest. The Note shall be binding upon, inure to the benefit of and be enforceable by the Company, the Holder
and their respective successors and permitted assigns.

 

Section
4.11 Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power,
right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power,
right or privilege preclude other or further exercise thereof or of any other right, power or privilege.

 

Section
4.12 Company Waivers. Except as otherwise specifically provided herein, the Company and all others that may become liable
for all or any part of the obligations evidenced by this Note,hereby waive presentment, demand,
notice of nonpayment, protest and all other demands’ and notices in connection with
the delivery, acceptance, performance and enforcement of this Note, and do hereby consent to any number of renewals of extensions
of the time or payment hereof and agree that any such renewals or extensions may be made without notice to any such persons and
without affecting their liability herein and do further consent to the release of any person liable hereon, all without affecting
the liability of the other persons, firms or the Company liable for the payment of this Note, AND DO HEREBY WAIVE TRIAL BY JURY.

 

		(a)	No delay or omission on the part of the Holder in exercising its rights under
this Note, or course of conduct relating hereto, shall operate as a waiver of such rights or any other right of the Holder, nor
shall any waiver by the Holder of any such right or rights on any one occasion be deemed
a waiver of the same right or rights on any future occasion.

 

    	 	12	 

    	 

    

		(b)	

THE COMPANY ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS NOTE ARE A PART IS A COMMERCIAL TRANSACTION, AND
TO THE EXTENT ALLOWED BY APPLICABLE LAW, HEREBY WAIVES ITS RIGHT TO NOTICE AND HEARING WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH
THE HOLDER OR ITS SUCCESSORS OR ASSIGNS MAY DESIRE TO USE.

 

 

	 	Alterola Biotech, Inc  
	 	 
	By:	/s/ Seamus McAuley
	 	Name: Seasmus McAuley
	 	Title: CEO

 

    	 	13	 

    	 

    

 

EXHIBIT A

FORM OF CONVERSION NOTICE

(To be executed by the
registered Holder in order to convert the applicable Note)

The undersigned
hereby irrevocably elects to convert $ ________________of the Principal Amount of the above Note into _______________ shares
of Common Stock of Alterola, Biotech, Inc. according to the conditions hereof, as of the date written below.

Conversion
Date: ________________________________

Applicable
Conversion Price: ________________________

Number of shares of Common Stock
beneficially owned or deemed beneficially owned by the Holder on the Conversion Date: _________________________________

 

 

Signature: _____________________________

Print Name: ___________________________

Address: ______________________________

______________________________

______________________________

 

    	 	14ALTEROLA BIOTECH INC.

 

	 

 

 

EMPLOYMENT
AGREEMENT

 

This, FINANCIAL REGULATORY COMPLIANCE PRESIDENT AND
EXECUTIVE

EMPLOYMENT AGREEMENT (the “Agreement”),
made effective as of Monday, March 28, 2021, is made by and between ALTEROLA BIOTECH, INC “ABTI” a Nevada Corporation
with address 47 Hamilton Square Birkenhead Merseyside , United Kingdom, CH415AR (“The Company”) and Mr. Larson Elmore
(hereinafter referred to as “ The Executive”),located at 15954 Jackson Creek Parkway , Ste. 442, Monument , Colorado
80132 agrees based upon the following terms and conditions:

 

RECITAL

 

WHEREAS, Company is a professional company
dedicated to the development and building a management team for acquisitions of acquiring target companies that have intellectual
Property rights and assets as such the following: for cannabinoid fermentation., seeking to acquire the pipeline candidates from
Phytotherapeutix Limited and to acquire intellectual property rights and formulation know-how from Ferven Limited and Nano 4M Limited.
These are only some under consideration for acquisition and development with the initial capital infusion of $25,000,000 or lesser
amount of $3,000,000.

 

WHEREAS, subject to initial capitalization
thresholds of $25,000,000 the Company or an acceptable lesser amount of a theshold of $3,000,000 received by the company wishes
to retain the services of Executive, and Executive wishes to render services to Company . The monthly payment will accrue from
the effective date of this agreement while the company is being capitalized . Cash payment will not be paid until there is sufficient
capital determined by the Board of Directors to pay the agreement as per these terms in simultaneous concert with commencement
of other executive employment agreements that have become effective. Once sufficient capital is achieved payment will be tendered
as per the terms of this agreement and will not be unreasonably withheld .

 

WHEREAS, Company and Executive wish to
set forth in this Agreement the terms and provisions of retaining Executive as well as his overall duties, functions and obligations;

 

WHEREAS, Company and Executive intend that
this Agreement will supersede and replace any and all other employment agreements, letters of intent, verbal/electronic communication,
or any other arrangement for employment entered into (or previously contemplated) by and between Company and Executive, and that
any such employment agreements, letters of intent or other arrangements shall have no further force or effect.

 

NOW, THEREFORE, in consideration
of the foregoing and of the mutual promises contained in this Agreement, Company and Executive (who are sometimes individually
referred to as a “party” and collectively
referred to as the “parties”) agree as follows on this employment agreement subject of the first project being fully
funded and closed:

 

    	 		 

    	 

    

 

AGREEMENT

 

		1.	SPECIFIED PERIOD AND OFFICE LOCATION/HEADQUARTERS.

 

Company hereby employs Executive pursuant to the
terms of this Agreement and Executive hereby accepts employment with Company pursuant to the terms of this Agreement beginning
on the Effective Date. The term of the Agreement shall be for the later date of either: i) a period of three (3) years from the
Effective Date; or ii) Company launches an exit strategy (including, but not limited to, an initial public offering (“IPO”)).
Agreement will be automatically renewed for an additional period of one (1) years (i.e., beyond the initial three (3) year term)
unless terminated earlier by either party pursuant to the provisions of Sections 9 and 10 below. The Parties may also extend this
Agreement further based upon mutual written consent. The headquarters for Company shall be located @47 Hamilton Square Birkenhead
Merseyside , United Kingdom, CH415AR or designated office locations with a regional office in other locations (within the US and
on a worldwide basis) shall be authorized by the Company’s BOD subject to executives’ recommendations and employee
will not be required to relocate , unless it is determined to be of greater advantage to the operations of the company and is determined
by the BOD. If required to relocate, all relocation costs and expenses shall be paid by the Company and a cost-of-living adjustment
shall be made to salary if the cost of living is higher than where the Executive formerly resided. Company will also pay for the
offices and all such facilities, material, equipment, human and capital resources required by Executive and subject to BOD approval.
Executive will be required to travel within the USA as appointed.

 

		2.	GENERAL DUTIES.

 

Executive shall report directly
to the Chief Executive Officer (“CEO”) of Company. Executive shall devote his time as required to carry out relevant
company business during the term of this Agreement. In his official capacity as the Executive, Executive shall report to the CEO
and receive direction from the CEO as to support required. Executive agrees to cooperate with and work to the best of his ability
with Company’s strategic partners and affiliates (domestic and foreign), CEO, management team as well as the BOD and the
officers and other employees, to ensure that the Company’s mission statement is effectively carried-out, executed and accomplished.
The Board will support and cooperate with him fully and faithfully and provide him with all human, material and capital resources
needed in order to help him accomplish the mission outlined in the corporate business model and/or strategic plan.

 

		3.	COMPENSATION.

 

		a)	Base Salary.

 

Commencing from the Effective Date and during
the first-year term of this Agreement, Company shall pay executive a base salary of $160,000 (Amount) per year (the “Base
Salary”). Payment of Base Salary by Company to the Executive shall be made on the first of each month commencing the 1st
of the month following the closure of the capital raising via wire transfer or ACH pursuant to electronic instructions between
the parties. The Executive’s Base Salary shall increase pursuant to a performance appraisal (merit evaluation) to be conducted
by the BOD on each anniversary of his employment; but, in general, if the Executive receives a satisfactory performance review,
he shall then be entitled to an increase as determined by the remuneration committee commencing from the first anniversary following
the Effective Date. Unless the Company’s BOD changes its policy during term of this Agreement, and for purposes of the IRS,
Executive shall be considered an employee and the Company shall deduct the necessary federal, state and local taxes, insurance
liabilities, etc., and provide a W-2 Form to Executive as required by the IRS.

 

    	 	2	 

    	 

    

 

		b)	Success Bonuses/Fees

 

The Executive will be entitled to a Success
Bonus Structure, provided that the following milestones/transactions (“Transactions”) have been satisfactorily completed
pursuant to BOD approval:

 

Financial Close Bonus: The
executive shall be entitled to receive a one time bonus equaling (10%) of salary with the financial close of financing for
each plant location.

 

		c)	Ownership Interest/Stock Options.

 

Executive will be entitled to an
additional equity (ownership) interest in the Company in the amount of (4,000,000) four million restricted shares of the
total value and stock value of Company as treasury stock. (Vested timelines by quarters of employment, with 1⁄2 of the
shares are vested at Financial close as outlined as effective date of 2,000,000 shares b) above and the balance will be
issued in 1⁄4 increments each quarter.) Currently, there are 2,000,000,000 million authorized Stock and 754,280,000
million outstanding shares. While restricted, the executive is entitled to any value from the shares. In the event the
employment is terminated by company or by employee terminates any non-vested shares are lost on the date of notice of
termination which is given by either party. Executive cannot sell his ownership interest in vested shares before allowable
period of time has lapsed (from the Effective Date) Notwithstanding, Executive has the right to exercise the option to sell
(or liquidate) 100% of his personal stock upon given notice of termination (i.e., ownership in the Company), and or which
will automatically vest with the completion of an “exit strategy” including, but not limited to at any time after
Company launches an IPO.

 

		d)	Executive Benefits Plans.

 

Executive shall be entitled, during the specified
period of this Agreement, to participate, at Company’s expense, equally with other executives of a similar rank in any profit-sharing
program, insurance coverage, 401(k) retirement plan, medical and dental plan or other plans which may be in effect or which may
be adopted by Company’s BOD. The benefit plans shall be with such underwriters and shall contain such provisions as the BOD
and Executive may determine appropriate from time to time. Insurance provisions shall cover Executive and his immediate family
and include, but not be limited to, term life, medical, dental, vision, and other related benefits.

 

		4.	REIMBURSEMENT/ADVANCES OF BUSINESS EXPENSES.

 

Company shall reimburse Executive to cover all reasonable
business expenses incurred by Executive in connection with the business of Company. Reasonable expenses will be outlined in the
company expense policy document to be issued before 30th April to all employees. Company will also provide (at its expense) all
air fare and hotel/apartment accommodations for Executive including, without limitations, lodging, meals, and other necessary living
items when he/she is on business away from their residence. All air travel arrangements of Executives for journeys over 5 hours
outside the USA, (if resident in the USA Mexico or Canada) and for journeys over 5 hours Europe (if Executive is resident in Europe
or the United Kingdom). will be on business class accommodations and will be arranged for and fully paid by the Company. All other
travel by air for short leg journeys within these territories will be in economy or premium economy. Travel by train will be in
first class if arranged and reserved 21 days in advance. All travel will be submitted to HR prior to trip if budgeted to be over
$2000. This clause will be replaced by 30th April with a reference to the Alterola Travel Policy.

 

    	 	3	 

    	 

    

 

		5.	ANNUAL VACATION/HOLIDAYS/SICK LEAVE.

 

During the period from the Effective Date
until the third (3) anniversary thereafter, Executive shall be entitled to three (3) weeks’ vacation time pro rata without
loss of compensation. Executive shall be entitled to four (4) weeks of vacation pro rata for each subsequent year. Executive shall
be entitled to all holiday provisions and sick leave in accordance with Company’s general policy for its executive employees.

Notwithstanding, Executive shall be entitled to
take the Christmas week off, commencing from the year 2021 and such entitlement shall be valid for each subsequent year, without
loss of compensation.

 

6. INDEMNIFICATION OF LOSSES.

 

Company shall indemnify and hold Executive harmless
to the full extent of the law from any and all claims, losses and expenses sustained by Executive as a result of any action taken
by him to discharge his duties under this Agreement, and Company shall defend Executive, at Company’s expense, in connection
with any and all claims by stockholders or third parties which are based upon actions taken by Executive to discharge his duties
under this Agreement.

 

		7.	TERMINATION FOR CAUSE.

 

Company reserves the right to declare Executive
in default of this Agreement if Executive fails to adequately perform, willfully breaches or habitually neglects the duties which
he is required to perform under the terms of this Agreement, or if Executive commits such acts of dishonesty, fraud, misrepresentation,
gross negligence or willful misconduct as would prevent the effective performance of his duties or which results in material harm
to Company or its business. Company may terminate this Agreement for cause by giving written notice of termination to Executive.
Upon such termination the obligations of Executive and Company under this Agreement shall immediately cease. Such termination shall
be without prejudice to any other remedy to which Company may be entitled either at law, in equity, or under this Agreement. If
Executive’s employment is terminated pursuant to this paragraph, Company shall pay to Executive, immediately upon such termination,
any accrued but unpaid amounts earned pursuant to Sections 4 and 5.

 

		a.	TERMINATION WITHOUT CAUSE.

 

		a)	Death. Executive’s employment shall terminate upon the death
of Executive. Upon such termination, the obligations of Executive and Company under this
Agreement shall immediately cease. In the event of a termination pursuant to this Section, Executive shall be entitled to
receive any amounts accrued but unpaid pursuant to Sections 4 and 5. Successors, heirs and/or executor(s) of Executive shall be
entitled to exercise the provisions incorporated in Sections 4 (c) and (d) following the death of Executive. All other rights Executive
has under any benefit, ownership interest, profit-sharing arrangements, and/or stock option plans and programs shall be determined
in accordance with the terms and conditions of such plans and programs as defined by applicable corporate policies.

 

		b)	Disability. Company reserves the right to terminate Executive’s
employment upon 60 days written notice if, for a period of 60 days, Executive is prevented from discharging his duties under this
Agreement due to any physical or mental disability. Upon such termination the obligations of Executive and Company under this Agreement
shall immediately cease. In the event of a termination pursuant to this section, Executive shall be entitled to receive any accrued
and unpaid amounts earned pursuant to Sections 4(a), (b), (c) and (d).

 

    	 	4	 

    	 

    

 

All other rights Executive has under any benefit,
ownership interest or stock option plans and programs shall be determined in accordance with the terms and conditions of such plans
and programs as defined by applicable corporate policies.

 

		c)	Election by Executive. Executive may elect to terminate his employment
at any time upon not less than 60 days written notice by Executive to the Board. In the event of a termination pursuant to this
Section, Executive shall be entitled to receive any accrued and unpaid amounts earned pursuant to sections 4 and 5. All other rights
Executive has under any benefit, ownership interest or stock option plans and programs shall be determined in accordance with the
terms and conditions of such plans and programs as defined by applicable corporate policies.

 

		d)	Election by Company and Termination Fee. Company may terminate Executive’s
employment upon not less than 60 days written notice by Company to Executive. In the event of a termination during the first year
of employment, the Executive shall be entitled to receive any accrued and unpaid amounts pursuant to Sections 4 and 5 and six (6)
months of base salary payable in one lump sum or in six (6) monthly installments as elected solely by the Company. In the event
of termination after one year of service pursuant to this Section, Executive shall be entitled to receive any accrued and unpaid
amounts earned pursuant to Sections 4 and 5. All other rights Executive has under any benefit, ownership interest or stock option
plans and programs shall be determined in accordance with the terms and conditions of such plans and programs. In addition, if
termination is not for cause, within 10 days of terminating Executive, Company shall pay Executive a “Termination Fee”
in an amount equal to six (6) months’ worth of the base salary that is applicable during the effected year.

 

		e)	Termination by Executive for Good Reason. Executive may terminate
this Agreement immediately based on his reasonable determination that one of the following events has occurred:

 

		i)	Company intentionally and continually breaches or wrongfully fails to fulfill
or perform (A) its obligations, promises or covenants under this Agreement; or (B) any warranties, obligations, promises or covenants
in any agreement (other than this Agreement) entered into between Company and Executive, without cure, if any, as provided in such
agreement;

 

		ii)	Company terminates this Agreement and the Executive’s employment
hereunder, and such termination does not constitute termination for cause;

 

		iii)	Without the consent of Executive, Company: (A) substantially alters or
materially diminishes the position, nature, status, prestige or responsibilities of Executive from those in effect by mutual agreement
of the parties from time-to-time; (B) assigns additional duties or responsibilities to Executive which are wholly and clearly inconsistent
with the position, nature, status, prestige or responsibilities of Executive then in effect; or (C) removes or fails to reappoint
or re-elect Executive to Executive’s offices under this Agreement (as they may be changed or augmented from time-to-time
with the consent of Executive), or as a director of the Company, except in connection with Executive’s disability;

 

		iv)	Company intentionally requires Executive to commit or participate in any
felony or other serious crime; and/or

 

		v)	Company engages in other conduct constituting legal cause for termination.

 

    	 	5	 

    	 

    

 

If Executive terminates this Agreement for good
reason, the obligations of Executive and Company under this Agreement shall immediately cease. In the event of a termination pursuant
to this section, Executive shall be entitled to receive any accrued and unpaid amounts earned pursuant to Sections 4, 5, and 9(d).
All other rights Executive has under any benefit or stock option plans and programs shall be determined in accordance with the
terms and conditions of such plans and programs.

 

		b.	ELECTION TO BOARD OF DIRECTORS.

 

Upon the Effective Date, Executive shall have
been duly elected as a member of the Company’s Board of Directors (“BOD”). Executive shall be a director of the
BOD.

 

		c.	NO CONFLICTING DUTIES.

 

Executive shall devote his/her productive time,
ability, and attention to the business of the Company during the term of this Agreement in a manner that will serve the best interests
of the Company. During the term of this Agreement, Executive will be restricted from performing services, or enter into any contract
to do so, for any other corporation, firm, entity or person without express Board of Director approval. This Agreement shall not
be interpreted to prohibit Executive from making passive personal investments in other firms, projects, etc.

 

		d.	MISCELLANEOUS.

 

		i.	Preparation of Agreement.
                                                                                                     It is acknowledged by each party that such party either had separate and independent
                                                                                                     advice of counsel or the opportunity to avail itself or himself of same. In
                                                                                                     light of these facts, it is acknowledged that no party shall be construed to be
                                                                                                     solely responsible for the drafting hereof, and therefore any ambiguity shall not be construed against any party as
                                                                                                     the alleged draftsman of this Agreement.

		ii.	Cooperation.
Each party agrees, without further consideration, to cooperate and diligently and
faithfully perform any acts, deeds and things and to execute and
deliver any documents that may from time to time be reasonably necessary or otherwise reasonably
required to consummate, evidence, confirm and/or carry out the intent and provisions of this Agreement,
all without undue delay or expense.

 

		iii.	Interpretation.

 

		1.	Entire Agreement/No Collateral Representations.
Each party expressly acknowledges and agrees that this
Agreement: (1) is the final, complete and exclusive statement of the agreement of the
parties with respect to the subject matter hereof; (2) supersedes any prior or contemporaneous
agreements, letters of intent, promises, assurances, guarantees, representations, understandings, conduct, proposals, conditions,
commitments, acts, course of dealing, warranties, interpretations or terms of any kind, oral
or written (collectively and severally, the “Prior Agreements”), and that any such Prior Agreements are of no
force or effect except as expressly set forth herein; and (3) may
not be varied, supplemented or contradicted by evidence of Prior Agreements, or by evidence of subsequent oral agreements.
Any agreement hereafter made shall be ineffective to modify, supplement or discharge the terms of this Agreement, in whole or in
part, unless such agreement is in writing and signed by the party against whom enforcement
of the modification or supplement is sought.

		2.	Waiver. No breach of any agreement
or provision herein contained, or of any obligation under this Agreement, may be waived, nor shall any extension of time for performance
of any obligations or acts be deemed an extension of time for performance of any other obligations or acts contained herein,
except by written instrument signed by the party to be charged or as otherwise expressly authorized herein.
No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding
breach thereof, or a waiver or relinquishment of any other agreement or provision or right or power herein contained

 

    	 	6	 

    	 

    

 

		3.	Remedies Cumulative. The remedies
of each party under this Agreement are cumulative and shall not
exclude any other remedies towhich such party may be lawfully entitled.

 

		4.	Severability. If any term or provision
of this Agreement or the application thereof to any person or circumstance shall, to any extent, be determined to be invalid, illegal
or unenforceable under present or future laws effective during the term of this Agreement, then and, in that event: (A) the performance
of the offending term or provision (but only to the extent its application is invalid, illegal or unenforceable) shall be excused
as if it had never been incorporated into this Agreement, and, in lieu of such excused provision,
there shall be added a provision as similar in terms and amount to such excused provision
as may be possible and be legal, valid and enforceable, and (B) the remaining part of this Agreement (including the application
of the offending term or provision to persons or circumstances other than those as to which it is held invalid, illegal or unenforceable)
shall not be affected thereby and shall continue in full force and effect to the fullest extent provided by law.

 

		8.	No Third Party Beneficiary. Notwithstanding
anything else herein to the contrary, the parties specifically disavow any desire or
intention to create any third party beneficiary obligations, and specifically declare that no person or entity, other than as set
forth in this Agreement, shall have any rights hereunder or any right of enforcement hereof.

 

		9.	Headings; References; Incorporation; Gender.
The headings used in this Agreement are for convenience and reference purposes only, and shall
not be used in construing or interpreting the scope
or intent of this Agreement or any provision hereof. References to this Agreement
shall include all amendments or renewals thereof. Any exhibit referenced in this Agreement shall be construed to be incorporated
in this Agreement. As used in this Agreement, each
gender shall be deemed to include the other gender, including neutral genders or genders
appropriate for entities, if applicable, and the singular shall be deemed to include
the plural, and vice versa, as the context requires.

 

		i.	Enforcement.

 

		1.	Applicable Law. This Agreement and
                                                                                                        the rights and remedies of each party arising out of or relating to this Agreement (including, without limitation, equitable
                                                                                                        remedies) shall be solely governed by, interpreted under, and construed and enforced in
                                                                                                        accordance with the laws (without regard
                                                                                                        to the conflicts of law principles thereof) of the State of Nevada , as if
                                                                                                        this agreement were made, and as if its obligations are to be performed, wholly
                                                                                                        within the State of Delaware..

 

		2.	Consent
to Jurisdiction; Service of Process. Any action or proceeding arising out of or relating
to this Agreement shall be filed in and heard and litigated solely before the state
courts of Las Vegas and located within the Clark County.

 

		3.	Consent to Specific Performance and Injunctive
Relief and Waiver of Bond or Security. Each party acknowledges that Company may, as a result of Executive’s breach of the
covenants and obligations included herein, will
sustain immediate and long-term substantial and irreparable injury and damage that cannot be reasonably or adequately compensated
by damages at law. Each party agrees that in the event of Executive’s breach or threatened breach of the covenants and obligations,
Company shall be entitled to obtain equitable relief from a court of competent jurisdiction or arbitration without proof of any
actual damages that have been or may be caused to Company by such breach or threatened
breach and without the posting of bond or other security in connection therewith.

 

    	 	7	 

    	 

    

 

		i.	No Assignment of Rights or Delegation
of Duties by Executive. Executive’s rights and benefits under this Agreement
are personal to him and therefore (i) no such right or benefit shall be subject to
voluntary or involuntary alienation, assignment or transfer; and (ii) Executive may
not delegate his duties or obligations hereunder.

 

 

 

 

 

 

 

 

 

    	 	8	 

    	 

    

 

		ii.	Notices.
Unless otherwise specifically provided in this Agreement, all notices, demands,
requests, consents, approvals or other communications (collectively and severally called “Notices”)
required or permitted to be given hereunder, or which are given with
respect to this Agreement, shall be in writing, and shall be given by: (A) personal
delivery (which form of Notice shall be deemed to have been given upon delivery), (B) by telegraph or by private airborne/overnight
delivery service (which forms of Notice shall be deemed to have been given upon confirmed
delivery by the delivery agency), (C) by electronic or facsimile or telephonic transmission, provided the receiving party
has a compatible device or confirms receipt thereof (which forms of Notice shall be deemed
delivered upon confirmed transmission or confirmation of receipt), or (D) by mailing in the United States mail
(or international mail) by registered or certified mail, return receipt requested, postage prepaid (which
forms of Notice shall be deemed to have been given upon the 5th business day following the date mailed). Each
party, and their respective counsel, hereby agrees that if Notice is to be given hereunder
by such party’s counsel, such counsel may communicate directly with all principals,
as required in order to comply with the foregoing notice provisions. Notices shall be addressed to the address hereinabove set
forth in the introductory paragraph of this Agreement, or to such other address as
the receiving party shall have specified most recently by like Notice, with a copy
to the other parties hereto. Any Notice given to the estate of a party shall be sufficient
if addressed to the party as provided inthis subparagraph.

 

		iii.	Counterparts.
This Agreement may be executed in counterparts, each of
which shall be deemed an original, and all of which together shall constitute one and
the same instrument, binding on all parties hereto. Any signature page of this Agreement
may be detached from any counterpart of this Agreement and reattached to any other counterpart
of this Agreement identical in form hereto by having attached to it one or more additional
signature pages.

 

		iv.	Execution by All Parties Required to
be Binding; Electronically Transmitted Documents.
This Agreement shall not be construed to be an offer and shall have
no force and effect until this Agreement is fully executed by all parties hereto. If a
copy or counterpart of this Agreement is originally executed and such copy or counterpart is thereafter
transmitted electronically by facsimile or similar device, such facsimile document shall
for all purposes be treated as if manually signed by the party whose facsimile signature appears.

  

IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date so
noted above and that the parties also acknowledge
that by signing this contractual document they have read each Article, Section and Paragraph of the Agreement and hereby
fully agree with the same fully approved by the Board of Directors.

 

 

 

Company:

 

Alterola
Biotech, Inc. 

 

By:
Tim Rogers

 

__________________

 

Its: ______________________

 

 

 

Executive:

 

Larson Elmore /s/ Larson Elmore

 

    	 	9

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