Document:

Exhibit 10.2

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED. IT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION
IS NOT REQUIRED.

 

SECURED CONVERTIBLE PROMISSORY NOTE

 

 

	US $______________	Las Vegas, Nevada

_______,
_________, 2019

 

For good and
valuable consideration, Globe Photos, Inc., a Delaware corporation, (“Maker”), hereby makes and
delivers this Promissory Note (this “Note”) in favor of  ____________ or its assigns
(“Holder”), and hereby agrees as follows:

 

1.                    
Principal Obligation and Interest. For value received, Maker promises to pay to Holder at such place as
Holder may designate in writing, in currently available funds of the United States, the principal sum of ___________________
Dollars ($          ). Maker’s obligation under this Note shall accrue interest at the rate of twelve percent (12%)
per annum from the date hereof until paid in full. Interest shall be computed on the basis of a 365-day year or 366-day year, as
applicable and actual days lapsed.

 

		2.	Payment Terms.

 

Maker agrees to remit payment in full of
all principal and interest due hereunder to Holder on or before October 31, 2019 (“Maturity”).

 

Accrued interest on this Note shall be payable at Maturity to
the Holder.

 

Maker shall have the right to prepay this
Note at any time by paying all of the principal and accrued interest owing under the Note at the time of prepayment upon provide
the Holder ten (10) days advanced written notice, during which time, the Holder may exercise its conversion rights hereunder.

 

All payments shall be applied first to late
charges, then to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically
received by the Holder.

 

		3.	Conversion.

 

a.                
Voluntary Conversion. Holder may, at its sole option, convert all or any portion of the accrued interest and unpaid
principal balance of this Note into fully paid and non- assessable shares of common stock of the Maker at the conversion price
of $6.00 per share, subject to adjustment as described herein (the “Conversion Price”). The number of shares
of common stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount (as defined
below) by the applicable Conversion Price then in effect on the date specified in the notice of conversion given by Holder (the
“Notice of Conversion”), delivered to the Maker by the Holder on such conversion date (the “Conversion
Date”). The term “Conversion Amount” means, with respect to any conversion of this Note, the sum of
(1) the principal amount of this Note to be converted in such conversion plus (2) at the Holder’s option, accrued
and unpaid interest, if any, on such principal amount at the interest rates provided in this Note to the Conversion Date.

 

b.                     
Penalty Conversion. In the event that the Company has not consummated an uplist to a national stock exchange as of
the Maturity, the Conversion Price shall automatically be adjusted to $2.00 per share.

 

4.                     
Security Interest.

 

a.                     
Grant. As collateral security for the prompt, complete, and timely satisfaction of all present and future indebtedness,
liabilities, duties, and obligations of Maker to Holder evidenced by or arising under this Note, and including, without limitation,
all principal and interest payable under this Note, any future advances added to the principal amount due hereunder (collectively,
the “Obligations”), the Maker hereby pledges, assigns and grants to Investor a continuing security interest
and lien in all of the Maker’s right, title and interest in and to the property, whether now owned or hereafter acquired
by Maker and whether now existing or hereafter coming into existence or acquired, including the proceeds of any disposition thereof,
described on Exhibit “A” attached hereto and incorporated herein by this reference (collectively, the “Collateral”)
on a pari passu basis with existing secured convertible promissory notes. As applicable, the terms of this Note with respect
to the Maker’s granting of a security interest in the Collateral to Investor shall be deemed to be a security agreement under
applicable provisions of the Uniform Commercial Code (“UCC”), with Maker as the debtor and Holder as the secured
party.

 

 

 

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b.                     
Perfection. Upon the execution and delivery of this Note, Maker authorizes Holder to file such financing statements
and other documents in such offices as shall be necessary or as Holder may reasonably deem necessary to perfect and establish the
priority of the liens granted by this Note, including any amendments, modifications, extensions or renewals thereof. Maker agrees,
upon Holder’s request, to take all such actions as shall be necessary or as Investor may reasonably request to perfect and
establish the priority of the liens granted by this Note, including any amendments, modifications, extensions or renewals thereof.

 

5.                     
Representations and Warranties of Maker. Maker hereby represents and warrants the following to Holder:

 

a.                      
Maker and those executing this Note on its behalf have the full right, power, and authority to execute, deliver and perform
the obligations under this Note, which are not prohibited or restricted under the articles of incorporation or bylaws of Maker.
This Note has been duly executed and delivered by an authorized officer of Maker and constitutes a valid and legally binding obligation
of Maker enforceable in accordance with its terms.

 

b.                     
The execution of this Note and Maker’s compliance with the terms, conditions and provisions hereof does not conflict
with or violate any provision of any agreement, contract, lease, deed of trust, indenture, or instrument to which Maker is a party
or by which Maker is bound, or constitute a default thereunder or result in the imposition of any lien, charge, encumbrance, claim
or security interest of any nature whatsoever.

 

6.                     
Defaults. The following shall be events of default under this Note:

 

a.                      
Maker’s failure to remit any payment under this Note on or before the date due, if such failure is not cured in full
within ten (10) days of written notice of default;

 

b.                     
If Maker is dissolved, whether pursuant to any applicable articles of incorporation or bylaws, and/or any applicable laws,
or otherwise;

 

c.                      
The entry of a decree or order by a court having jurisdiction in the premises adjudging the Maker bankrupt or insolvent,
or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the
Maker under the federal Bankruptcy Code or any other applicable federal or state law, or appointing a receiver, liquidator, assignee
or trustee of the Maker, or any substantial part if its property, or ordering the winding up or liquidation of its affairs, and
the continuance of any such decree or order unstayed and in effect for a period of twenty (20) days; or

 

d.                     
Maker’s institution of proceedings to be adjudicated a bankrupt or insolvent, or the consent by it to the institution
of bankruptcy or insolvency proceedings against it, or its filing of a petition or answer or consent seeking reorganization or
relief under the federal Bankruptcy Code or any other applicable federal or state law, or its consent to the filing of any such
petition or to the appointment of a receiver, liquidator, assignee or trustee of the company, or of any substantial part of its
property, or its making of an assignment for the benefit of creditors or the admission by it in writing of its inability to pay
its debts generally as they become due, or the taking of corporate action by the Maker in furtherance of any such action.

 

7.                     
Rights and Remedies of Holder. Upon the occurrence of an event of default by Maker under this Note or at any
time before default when the Holder reasonably feels insecure, then, in addition to all other rights and remedies at law or in
equity, Holder may exercise any one or more of the following rights and remedies:

 

a.                      
Accelerate the time for payment of all amounts payable under this Note by written notice thereof to Maker, whereupon all
such amounts shall be immediately due and payable.

 

b.                     
Pursue any other rights or remedies available to Holder at law or in equity.

 

8.                     
Interest To Accrue Upon Default. Upon the occurrence of an event of default by Maker under this Note, the balance
then owing under the terms of this Note shall accrue interest at the rate of fifteen percent (15%) per annum, from the date of
default until Holder is satisfied in full.

 

 

 

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9.                     
Representation of Counsel. Maker acknowledges that it has consulted with or have had the opportunity to consult
with Maker’s legal counsel prior to executing this Note. This Note has been freely negotiated by Maker and Holder and any
rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in
the interpretation of this Note.

 

10.                  
Choice of Laws; Actions. This Note shall be constructed and construed in accordance with the internal substantive
laws of the State of Nevada, without regard to the choice of law principles of said State. Maker acknowledges that this Note has
been negotiated in Clark County, Nevada. Accordingly, the exclusive venue of any action, suit, counterclaim or cross claim arising
under, out of, or in connection with this Note shall be the state or federal courts in Clark County, Nevada. Maker hereby
consents to the personal jurisdiction of any court of competent subject matter jurisdiction sitting in Clark County, Nevada.

 

11.                  
Usury Savings Clause. Maker expressly agrees and acknowledges that Maker and Holder intend and agree that this
Note shall not be subject to the usury laws of any state other than the State of Nevada. Notwithstanding anything contained in
this Note to the contrary, if collection from Maker of interest at the rate set forth herein would be contrary to applicable laws
of such State, then the applicable interest rate upon default shall be the highest interest rate that may be collected from Maker
under applicable laws at such time.

 

12.                  
Costs of Collection. Should the indebtedness represented by this Note, or any part hereof, be collected at law,
in equity, or in any bankruptcy, receivership or other court proceeding, or this Note be placed in the hands of any attorney for
collection after default, Maker agrees to pay, in addition to the principal and interest due hereon, all reasonable attorneys’
fees, plus all other costs and expenses of collection and enforcement, including any fees incurred in connection with such proceedings
or collection of the Note and/or enforcement of Holder’s rights.

 

13.                  
Miscellaneous.

 

a.                     
This Note shall be binding upon Maker and shall inure to the benefit of Holder and its successors, assigns, heirs, and legal
representatives.

 

b.                     
Any failure or delay by Holder to insist upon the strict performance of any term, condition, covenant or agreement of this
Note, or to exercise any right, power or remedy hereunder shall not constitute a waiver of any such term, condition, covenant,
agreement, right, power or remedy.

 

c.                     
Any provision of this Note that is unenforceable shall be severed from this Note to the extent reasonably possible without
invalidating or affecting the intent, validity or enforceability of any other provision of this Note.

 

d.                     
This Note may not be modified or amended in any respect as provided in that certain Note and Warrant Purchase Agreement
executed concurrently herewith.

 

e.                     
Time is of the essence.

 

14.                  
Notices. All notices required to be given under this Note shall be given at such address as a party may designate
by written notice to the other party.

 

Notices may be transmitted
by facsimile, certified mail, private delivery, or any other commercially reasonable means, and shall be deemed given upon receipt
by the Party to whom they are addressed.

 

15.                  
Waiver of Certain Formalities. All parties to this Note hereby waive presentment, dishonor, notice of dishonor
and protest. All parties hereto consent to, and Holder is hereby expressly authorized to make, without notice, any and all renewals,
extensions, modifications or waivers of the time for or the terms of payment of any sum or sums due hereunder, or under any documents
or instruments relating to or securing this Note, or of the performance of any covenants, conditions or agreements hereof or thereof
or the taking. Any such action taken by Holder shall not discharge the liability of any party to this Note.

 

 

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IN WITNESS WHEREOF, this Note has been executed effective
the date and place first written

above.

 

“Maker”: Globe Photos, Inc.

 

 

By: ________________________________

 

Its: ________________________________

 

Print Name: _________________________

 

Date:______________________________

 

 

 

 

 

 

 

 

 

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Exhibit “A”

 

Collateral

 

Each and all of the following in which
Globe Photos, Inc., a Delaware Corporation, has any right, title, or interest, regardless of the manner in which such items are
formally held or titled; all as defined in the Nevada Uniform Commercial Code - Secured Transactions (Nevada Revised Statutes (“NRS”)
§§ 104.9101 et. seq.) as of the date of the Note, and as the same may be amended hereafter:

 

Inventory, as defined in NRS 104.9102(1)(uu)

 

 

 

 

 

 

 

 

 

    	 	5Exhibit 10.3

 

THIS WARRANT AND THE SECURITIES ISSUABLE
UPON THE EXERCISE HEREOF HAVE BEEN AND WILL BE ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”)
AND MAY NOT BE SOLD, OFFERED FOR SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED WITHOUT REGISTRATION UNDER THE ACT UNLESS EITHER (i)
THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT
REGISTRATION IS NOT REQUIRED IN CONNECTION WITH SUCH DISPOSITION OR (ii) THE SALE OF SUCH SECURITIES IS MADE PURSUANT TO RULE
144 PROMULGATED UNDER THE ACT.

 

	 	 	Las Vegas, Nevada
	Date of Issuance: ____ __, 2019	 	Void after: ____ __, 2022
	 	 	 

 

 

WARRANT TO PURCHASE COMMON STOCK

of

GLOBE PHOTOS, INC.

 

This Warrant to Purchase
Common Stock of Globe Photos, Inc. (this “Warrant”), is issued to [_______] (and, together with its permitted
successors and assigns, the “Holder”) by Globe Photos, Inc., a Delaware corporation (the “Company”).
This Warrant is issued as part of a series of similar warrants (the “Warrants”) to certain persons and entities
(the “Holders”).

 

1.              
Purchase of Shares.

 

(a)            
Number of Shares. Subject to the terms and conditions set forth herein, as further consideration for the extension
for investment in the Company pursuant to that certain Convertible Promissory Note, by and between the Holder and Company issued
as part of a series of similar notes to the Holders (the “Note”) concurrently herewith, the Holder is entitled,
upon surrender of this Warrant at the principal office of the Company (or at such other place as the Company shall notify the Holder
in writing), to purchase from the Company [______] fully paid and nonassessable shares of the Company’s Common Stock (the
“Common Stock”), which represents an amount equivalent to twenty five percent (25%) of the convertible number
of shares of Common Stock the Holder is entitled pursuant to the Note as of the date hereof.

 

(b)            
Exercise Price. The exercise price for the shares of Common Stock issuable pursuant to Section 1(a) of this Warrant
(the “Warrant Shares”) shall be $6.00 per share (the “Exercise Price”). The Warrant Shares
and the Exercise Price shall be subject to adjustment pursuant to Section 8 hereof.

 

2.              
Exercise Period. This Warrant shall be exercisable beginning on the date of this Warrant and ending at 5:00 p.m.
Pacific time on the three (3) year anniversary of the date hereof (the “Exercise Period”); provided, however,
that this Warrant shall no longer be exercisable and become null and void upon the consummation of a Change of Control. In the
event of a Change of Control, the Company shall notify the Holder at least ten (10) days prior to the consummation of such Change
of Control. For the purposes hereof, a “Change of Control” shall mean (i) the direct or indirect sale or transfer,
in a single transaction or a series of related transactions, by the stockholders of the Company of voting securities, in which
the holders of the outstanding voting securities of the Company immediately prior to such transaction or series of transactions
hold, as a result of holding Company securities prior to such transaction, in the aggregate, securities possessing less than fifty
percent (50%) of the total combined voting power of all outstanding voting securities of the Company or of the acquiring entity
immediately after such transaction or series of related transactions; (ii) a merger or consolidation in which the Company is not
the surviving entity, except for a transaction in which the holders of the outstanding voting securities of the Company immediately
prior to such merger or consolidation hold as a result of holding Company securities prior to such transaction, in the aggregate,
securities possessing more than fifty percent (50%) of the total combined voting power of all outstanding voting securities of
the surviving entity (or the parent of the surviving entity) immediately after such merger or consolidation; (iii) a reverse merger
in which the Company is the surviving entity but in which the holders of the outstanding voting securities of the Company immediately
prior to such merger hold as a result of holding Company securities prior to such transaction, in the aggregate, securities possessing
less than fifty percent (50%) of the total combined voting power of all outstanding voting securities of the Company or of the
acquiring entity immediately after such merger; or (iv) the sale, transfer or other disposition (in one transaction or a series
of related transactions) of all or substantially all of the assets of the Company, except for a transaction in which the holders
of the outstanding voting securities of the Company immediately prior to such transaction(s) receive as a distribution with respect
to securities of the Company, in the aggregate, securities possessing more than fifty percent (50%) of the total combined voting
power of all outstanding voting securities of the acquiring entity immediately after such transaction(s). Notwithstanding the foregoing
or anything herein contained to the contrary, the following shall not be deemed to constitute a Change in Control: (A) a merger
effected exclusively for the purpose of changing the domicile of the Company; or (B) a transaction or series of related transactions
in which the stockholders of the Company immediately following such transaction or series of related transactions own 50% or less
of the voting power of the Company if such transactions were undertaken wholly or primarily for capital raising purposes.

 

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3.              
Method of Exercise.

 

(a)            
While this Warrant remains outstanding and exercisable in accordance with Section 2 above, the Holder may exercise, in whole
or in part, the purchase rights evidenced hereby. Such exercise shall be effected by:

 

(i)             
the surrender of the Warrant, together with a duly executed copy of the Notice of Exercise attached hereto, to the Secretary
of the Company at its principal office (or at such other place as the Company shall notify the Holder in writing); and

 

(ii)           
the payment in cash to the Company of an amount equal to the aggregate Exercise Price for the number of Warrant Shares being
purchased.

 

(b)            
Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day
on which this Warrant is surrendered to the Company as provided in Section 3(a) above. At such time, the person or persons in whose
name or names any certificate for the Warrant Shares shall be issuable upon such exercise as provided in Section 3(c) below shall
be deemed to have become the holder or holders of record of the Warrant Shares represented by such certificate.

 

(c)            
As soon as practicable after the exercise of this Warrant in whole or in part, the Company at its expense will cause to
be issued in the name of, and delivered to, the Holder, or as such Holder (upon payment by such Holder of any applicable transfer
taxes) may direct:

 

(i)             
a certificate or certificates for the number of Warrant Shares to which such Holder shall be entitled, and

 

(ii)           
in case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate
on the face or faces thereof for the number of Warrant Shares equal to the number of such Warrant Shares described in this Warrant
minus the number of such Warrant Shares purchased by the Holder upon all exercises made in accordance with Section 3(a) above or
Section 4 below.

 

4.              
Net Exercise. In lieu of exercising this Warrant for cash, the Holder may elect to receive shares equal to the value
of this Warrant (or the portion thereof being exercised) by surrender of this Warrant at the principal office of the Company together
with notice of such election (a “Net Exercise”). A Holder who Net Exercises shall have the rights described in Sections
3(b) and 3(c) hereof, and the Company shall issue to such Holder a number of Shares computed using the following formula:

 

 

Where

 

		X =	The number of Shares to be issued to the Holder.

 

		Y =	The number of Shares purchasable under this Warrant or, if only a portion of the Warrant is being
exercised, the portion of the Warrant being cancelled (at the date of such calculation).

 

		A =	The fair market value of one (1) Share (at the date of such calculation).

 

		B =	The Exercise Price (as adjusted to the date of such calculation).

 

 

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For purposes of this
Section 4, the fair market value of a Share shall mean the average of the closing prices of the Shares (or equivalent shares of
Common Stock underlying this Warrant) quoted in the over-the-counter market in which the Shares (or equivalent shares of Common
Stock underlying the Warrant) are traded or the closing price quoted on any exchange or electronic securities market on which the
Shares (or equivalent shares of Common Stock underlying the Warrant) are listed, whichever is applicable, as published in The
Wall Street Journal for the thirty (30) trading days prior to the date of determination of fair market value (or such shorter
period of time during which such Shares were traded over-the-counter or on such exchange). In the event that this Warrant is exercised
pursuant to this Section 4 in connection with the consummation of the Company’s sale of its Common Stock or other securities
pursuant to a registration statement under the Act (other than a registration statement relating either to sale of securities to
employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145 transaction) (the “Public
Offering”), the fair market value per Share shall be the product of (a) the per share offering price to the public of
the Public Offering, and (b) the number of shares of Common Stock into which each Share is convertible at the time of such exercise.
If the Shares are not traded on the over-the-counter market, an exchange or an electronic securities market, the fair market value
shall be the price per Share that the Company could obtain from a willing buyer for Shares sold by the Company from authorized
but unissued Shares, as such prices shall be determined in good faith by the Company’s Board of Directors.

 

5.              
Warranties and Covenants of the Company. 

 

(a)            
In connection with the transactions provided for herein, the Company hereby represents and warrants to the Holder that the
Warrant Shares, when issued, sold, and delivered in accordance with the terms of the Warrants for the consideration expressed therein,
will be (i) duly and validly issued, fully paid and nonassessable, (ii) free from all taxes, liens and charges with respect to
the issuance thereof, and (iii) based in part upon the representations and warranties of the Holders in this Warrant, will be issued
in compliance with all applicable federal and state securities laws.

 

(b)            
The Company covenants and agrees that the Company will at all times during the Exercise Period, have authorized and reserved
a sufficient number of shares of its Common Stock to provide for the exercise of the rights represented by this Warrant. If at
any time during the Exercise Period the number of authorized but unissued shares of the Company’s Common Stock shall not
be sufficient to permit exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel,
be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for
such purposes.

 

(c)            
In the event of any taking by the Company of a record of the holders of any class of securities for the purpose of determining
the holders thereof who are entitled to receive any dividend or other distribution, the Company shall mail to the Holder, at least
10 days prior to the date of such record, a notice specifying the date on which such record is to be taken for the purpose of such
dividend or distribution.

 

6.              
Representations and Warranties of the Holder. In connection with the transactions provided for herein, the Holder
hereby represents and warrants to the Company that:

 

(a)            
Authorization. Holder represents that it has full power and authority to enter into this Warrant. This Warrant constitutes
the Holder’s valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by
(i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors’
rights and (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

(b)            
Purchase Entirely for Own Account. The Holder acknowledges that this Warrant is entered into by the Holder in reliance
upon such Holder’s representation to the Company that the Warrant and the Warrant Shares (collectively, the “Securities”)
will be acquired for investment for the Holder’s own account, not as a nominee or agent, and not with a view to the resale
or distribution of any part thereof, and that the Holder has no present intention of selling, granting any participation in or
otherwise distributing the same. By acknowledging this Warrant, the Holder further represents that the Holder does not have any
contract, undertaking, agreement, or arrangement with any person to sell, transfer or grant participations to such person or to
any third person, with respect to the Securities.

 

 

 

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(c)            
Disclosure of Information. The Holder acknowledges that it has received all the information it considers necessary
or appropriate for deciding whether to acquire the Securities. The Holder further represents that it has had an opportunity to
ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities.

 

(d)            
Investment Experience. The Holder acknowledges that it is able to fend for itself, can bear the economic risk of
its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits
and risks of the investment in the Securities. If other than an individual, the Holder also represents it has not been organized
solely for the purpose of acquiring the Securities.

 

(e)            
Accredited Investor. The Holder is an “accredited investor” within the meaning of Rule 501 of Regulation
D, as presently in effect, as promulgated by the Securities and Exchange Commission (the “SEC”) under the Act.

 

(f)             
Restricted Securities. The Holder understands that the Securities are characterized as “restricted securities”
under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public
offering and that under such laws and applicable regulations such securities may be resold without registration under the Act,
only in certain limited circumstances. In this connection, each Holder represents that it is familiar with Rule 144, as presently
in effect, as promulgated by the SEC under the Act (“Rule 144”), and understands the resale limitations imposed
thereby and by the Act.

 

(g)            
Further Limitations on Disposition. Without in any way limiting the representations set forth above, the Holder further
agrees not to make any disposition of all or any portion of the Shares unless and until the transferee has agreed in writing for
the benefit of the Company to be bound by the terms of this Warrant, including, without limitation, this Section 6, Section 19,
and:

 

(i)             
there is then in effect a registration statement under the Act covering such proposed disposition and such disposition is
made in accordance with such registration statement; or

 

(ii)           
the Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed
statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall
have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require
registration of such shares under the Act. It is agreed that the Company will not require opinions of counsel for transactions
made pursuant to Rule 144 except in extraordinary circumstances.

 

(h)            
Legends. It is understood that the Securities may bear the following legend, or substantially similar legends:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE BEEN ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD,
OFFERED FOR SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED WITHOUT REGISTRATION UNDER THE ACT UNLESS EITHER (i) THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT REGISTRATION IS
NOT REQUIRED IN CONNECTION WITH SUCH DISPOSITION OR (ii) THE SALE OF SUCH SECURITIES IS MADE PURSUANT TO RULE 144 PROMULGATED
UNDER THE ACT.”

 

7.              
Intentionally Omitted.

 

8.              
Adjustment of Exercise Price and Number of Shares. The number and kind of Warrant Shares purchasable upon exercise
of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:

 

(a)            
Subdivisions, Combinations and Other Issuances. If the Company shall at any time after the issuance but prior to
the expiration of this Warrant subdivide its Common Stock, by split-up or otherwise, or combine its Common Stock, or issue additional
shares of its Common Stock or Common Stock as a dividend with respect to any shares of its Common Stock, the number of Warrant
Shares issuable on the exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock
dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be made to the Exercise
Price payable per share, but the aggregate Exercise Price payable for the total number of Warrant Shares purchasable under this
Warrant (as adjusted) shall remain the same. Any adjustment under this Section 8(a) shall become effective at the close of business
on the date the subdivision or combination becomes effective, or as of the record date of such dividend, or in the event that no
record date is fixed, upon the making of such dividend.

 

 

 

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(b)            
Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization or change
in the capital stock of the Company (other than as a result of a subdivision, combination or stock dividend provided for in Section
8(a) above), then, as a condition of such reclassification, reorganization or change, lawful provision shall be made, and duly
executed documents evidencing the same from the Company or its successor shall be delivered to the Holder, so that the Holder shall
have the right at any time prior to the expiration of this Warrant to purchase, at a total price equal to that payable upon the
exercise of this Warrant, the kind and amount of shares of stock and other securities or property receivable in connection with
such reclassification, reorganization or change by a holder of the same number and type of securities as were purchasable as Warrant
Shares by the Holder immediately prior to such reclassification, reorganization or change. In any such case appropriate provisions
shall be made with respect to the rights and interest of the Holder so that the provisions hereof shall thereafter be applicable
with respect to any shares of stock or other securities or property deliverable upon exercise hereof, and appropriate adjustments
shall be made to the Exercise Price per Share payable hereunder, provided the aggregate Exercise Price shall remain the
same.

 

(c)            
Notice of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon
exercise of the Warrant, or in the Exercise Price, the Company shall promptly notify the Holder of such event and of the number
of Warrant Shares or other securities or property thereafter purchasable upon exercise of this Warrant.

 

(d)            
Conversion of Common Stock. In the event that all outstanding shares of Common Stock are converted to any other security,
this Warrant shall become exercisable for such other security.

 

9.              
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon
the exercise of this Warrant, but in lieu of such fractional shares the Company shall round up to the nearest whole share.

 

10.           
No Stockholder Rights. Prior to exercise of this Warrant, the Holder shall not be entitled to any rights of a stockholder
with respect to the Warrant Shares, including (without limitation) the right to vote such Warrant Shares, receive dividends or
other distributions thereon, exercise preemptive rights or be notified of stockholder meetings, and, except as otherwise provided
in this Warrant, such Holder shall not be entitled to any stockholder notice or other communication concerning the business or
affairs of the Company.

 

11.           
Governing Law; Venue. This Warrant shall be governed by and construed under the laws of the State of Nevada as applied
to agreements among Nevada residents, made and to be performed entirely within the State of Nevada. The parties agree that any
dispute arising in connection with the interpretation or validity of, or otherwise arising out of, this Warrant, will be subject
to the exclusive jurisdiction of the Nevada State and Federal Courts in and for Clark County, Nevada. The parties hereby agree
to submit to the personal and exclusive jurisdiction and venue of such courts and agree that process may be served in the manner
provided herein for the giving of notices or otherwise as allowed by applicable law. Each party hereto waives any defense of inconvenient
forum to the maintenance of any action so brought and waives any bond, surety, or other security that might be required of any
other party with respect thereto.

 

12.           
Successors and Assigns. The terms and provisions of this Warrant shall inure to the benefit of, and be binding upon,
the Company and the holders hereof and their respective successors and permitted assigns.

 

13.           
Titles and Subtitles. The titles and subtitles used in this Warrant are used for convenience only and are not to
be considered in construing or interpreting this Warrant.

 

14.           
Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed
effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile
if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days
after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit
with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications
shall be sent to the respective parties at addresses set forth on the signature pages hereto (or at such other addresses as shall
be specified by notice given in accordance with this Section 14).

 

 

 

    	 	5	 

     

    

 

15.           
Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Warrant, the prevailing
party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief
to which such party may be entitled.

 

16.           
Entire Agreement; Amendments and Waivers. This Warrant and any other documents delivered pursuant hereto constitute
the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. Nonetheless,
any term of this Warrant may be amended and the observance of any term of this Warrant may be waived (either generally or in a
particular instance and either retroactively or prospectively), with the written consent of the Company and the consent of the
Holders of at least a majority of the outstanding Warrants (the “Majority Holders”).

 

17.           
Loss or Mutilation. Upon receipt of evidence reasonably satisfactory to the Company of the ownership of and the loss,
theft, destruction or mutilation of this Warrant, and of indemnity reasonably satisfactory to it, and (in the case of mutilation)
upon surrender and cancellation of this Warrant, the Company will execute and deliver in lieu thereof a new Warrant of like tenor
as the lost, stolen, destroyed or mutilated Warrant.

 

18.           
Severability. If any provision of this Warrant is held to be unenforceable under applicable law, such provision shall
be excluded from this Warrant and the balance of the Warrant shall be interpreted as if such provision were so excluded and shall
be enforceable in accordance with its terms.

 

[Remainder of page intentionally left blank]

 

 

 

 

    	 	6	 

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Warrant as of the date first written above.

 

	 	GLOBE PHOTOS, INC.
	 	 
	 	 
	 	By: ____________________________
	 	Name: Stuart Scheinman
	 	Title:  Chief Executive Officer
	 	 
	 	Address:  6445 South Tenaya Way, B-130
	 	                 Las Vegas, NV 89113

 

 

ACKNOWLEDGED AND AGREED:

 

[Name of Holder]

 

By: ________________________

Name: _____________________

Title: ______________________

 

 

 

    	 	7	 

     

    

 

 

NOTICE
OF EXERCISE

 

GLOBE PHOTOS, INC.

 

Attention: Corporate Secretary

 

The undersigned hereby
elects to purchase, pursuant to the provisions of the Warrant, as follows:

 

		q	_____________ shares of Common Stock pursuant to the terms of the attached Warrant, and tenders
herewith payment in cash of the Exercise Price of such Warrant Shares in full, together with all applicable transfer taxes, if
any.

 

	 	q 	Net Exercise the attached Warrant with respect to __________ Shares.

 

The undersigned hereby
represents and warrants that Representations and Warranties in Section 6 hereof are true and correct as of the date hereof.

 

	 	HOLDER:
	 	 
	Date:___________________	By: ______________________
		 
	 	Address: ___________________
	 	                 ___________________
	 	                ___________________
	 	 
	Name in which Warrant Shares should be registered:	 
	__________________	 
	 	 

 

 

 

 

 

    	 	8

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