Document:

Exhibit
10.41

 

Certain identified information
has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly
disclosed. [***] indicates that information has been redacted.

 

Execution
Copy

TECHNOLOGY EVALUATION AGREEMENT

This AGREEMENT,
effective this 13th day of September, 2019 (hereinafter referred to as the “Effective Date”), is made
by and between [***], a [***] (hereinafter referred to as “[***]”), and Ares Genetics GmbH, a
company registered in Vienna, Austria, whose registered office is at Karl-Farkas-Gasse 18, 1030 Vienna, Austria (hereinafter
referred to as (“COMPANY”). Each of [***] and COMPANY may be referred to herein individually as a “Party”
and collectively as the “Parties.”

WHEREAS, the Parties
previously entered into a two-way Confidential Disclosure Agreement effective as of 25 July 2018 that governs previous discussions
(the “CDA”); and

WHEREAS, the Parties
previously entered into a Technology Evaluation Agreement effective as of 14 December 2018, which was completed to both Parties
satisfaction (the “Original Agreement”);

WHEREAS, the Parties
wish to continue to evaluate certain technology of COMPANY; and

WHEREAS, the Parties
will conduct portions of the current evaluation at COMPANY’s facilities in Vienna, Austria and [***] facilities at [***]
and [***] (the “Evaluation”); and

WHEREAS, [***] shall
provide certain [***] Materials (as defined herein) for use as described herein, for the term of this Agreement to facilitate the
Evaluation.

NOW THEREFORE, in
consideration of the foregoing, and of the mutual covenants, promises, and agreements contained herein, the Parties hereby agree
as follows:

		Article	 1                  
Scope and Conduct of the Project

		1.1	Subject to the provisions of this Agreement, [***] and COMPANY shall perform the Evaluation project
entitled “Assessment of Ares Genetics’ Ability to Predict the Resistance/Susceptibility of Bacteria to Specific Antibiotics”
as described in Exhibit A and attached hereto (the “Project”). The Project is hereby incorporated
by reference into this Agreement and shall govern in the event of any direct conflict with any term of this Agreement provided
it states so clearly in the Project or any change thereto. Changes may be made to the Project upon mutual agreement by the Parties,
but must be specific and agreed to in writing.

 

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

		1.2	The Parties shall:

		1.2.1	conduct the Project in a good scientific manner and in accordance with other current scientific
standards and laboratory practices; and

		1.2.2	conduct the Project in accordance with all applicable laws, rules, regulations and associated guidelines
including, but not limited to, all environmental and safety standards and regulations as well as any export and import regulations.

		1.3	COMPANY shall obtain and maintain all necessary licenses, permits, approvals, waivers and consents
and all regulatory authorizations, accreditations and certifications, which are necessary to undertake and complete the Project.

		1.4	[***] shall license and supply certain Materials as listed in Exhibit B. All of such materials
and all related material or associated Confidential Information, know-how or data are covered by this Agreement and shall hereinafter
be referred to as “[***] Material(s)”. [***] shall not transfer any [***] Material
to COMPANY, which contains any material belonging to Biosafety level 3 or above.

		1.5	In respect of [***] Materials, [***] shall, at its cost, arrange for them to be delivered to COMPANY
at its facility in Vienna, Austria, or any other third-party subcontractor facility determined by COMPANY as soon as reasonably
practicable following the date of execution of this Agreement. Along with the [***] Materials, [***] shall provide any information
associated that is required for the Project as specified in Exhibit A. COMPANY shall handle and store [***] Materials in
accordance with applicable scientific standards and laboratory practices and all applicable laws, rules, regulations and associated
guidelines including, but not limited to, all environmental and safety standards and regulations.

		1.6	It is understood that [***] Material(s) are supplied and licensed to COMPANY during the Term of
this Agreement solely for the internal testing and evaluation purposes described in Exhibit A, at its facility in Vienna, Austria,
or at the facility of third-party sub-contractors. Neither COMPANY, nor sub-contractors shall make any analytical measurements
of such [***] Materials except as may be described in and which are necessary to the Project without the prior written permission
of [***]. The [***] Materials shall not be used in any evaluation that is subject to consulting or licensing obligations to another
institution, corporation or business entity, unless written permission is obtained in advance from [***]. THE [***] MATERIALS SHALL
NOT BE USED ON OR IN HUMANS (OR IN CONNECTION WITH THEIR DIAGNOSIS OR TREATMENT).

		1.7	Each Party shall designate a point of contact, who shall meet telephonically or in person at intervals
to be agreed upon by the Parties to discuss progress on the Project, including data generated to date.

		Article	 2                  
Personnel

		2.1	Each Party represents and warrants that its employees, collaborators, consultants and other persons
involved in the Project shall comply with its obligations according to this

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

Agreement. Each Party shall be
responsible for the performance of its employees, collaborators, consultants and other persons under this Agreement.

		2.2	While at any [***] location, COMPANY employees and agents shall comply with [***] written rules
and regulations with regard to safety and security provided in advance to COMPANY (“[***] Rules and Regulations”).
COMPANY shall be entirely responsible for their compliance with [***] Rules and Regulations and their actions while at any [***]
location. Same applies mutatis mutandis to [***] employees and agents on COMPANY’s premises.

		Article	 3                  
Consideration

		3.1	Each Party agrees to provide in kind technical support for use in conducting the Project, as set
forth in Exhibit A.

		3.2	For its services in conducting the Project, [***] shall pay to COMPANY a flat fee as set forth
in Exhibit A.

		3.3	COMPANY shall invoice [***] in respect of costs and expenses in accordance with Sections 3.2, 3.3
and Exhibit A. All invoices shall be sent to [***] Accounts Payable address at: [***], with a courtesy copy to the [***]
point of contact designated in accordance with Section 1.5. Payment for expenses in accordance with this Article 3 shall be made
by [***] to COMPANY within Thirty (30) days following approval by the point of contact, of the invoice and/or itemized expense
statement submitted by COMPANY unless stated otherwise in Exhibit A.

		Article	 4                  
Confidential Information

		4.1	The Parties agree and acknowledge that “Confidential Information” shall
mean and include all data, know-how, any information or materials within the [***] Materials, or other information or materials,
including, without limitation, the data generated pursuant to this Agreement (whether or not patentable) disclosed by one Party
to the other Party after the Effective Date in connection with this Agreement, either directly or indirectly, and whether in verbal,
written, electronic or in any other form which is either designated as “confidential”, “proprietary” or
“sensitive” (or equivalent) or which ought to be regarded as confidential in nature by a reasonable business person.

		4.2	Confidential Information shall be maintained by the receiving Party as confidential, using the
same care and discretion that the receiving Party uses with its own Confidential Information of a similar nature, but, in any event,
no less than a reasonable degree of care. Confidential Information: (a) shall remain the exclusive property of the disclosing Party;
(b) shall be used by the receiving Party solely for the satisfaction of its obligations under this Agreement (or, where applicable,
in the exercise of its rights in respect of Project Data under Section 5.5); and (c) shall not be disclosed by the receiving Party
to any other persons or entities, except its employees on a need-to-know basis, unless written permission is obtained in
advance from the disclosing Party. All written or otherwise tangible Confidential Information, and copies thereof, shall be promptly
returned to the disclosing Party upon written request or destroyed, except that, excluding the [***] Materials, the

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

receiving Party may keep one (1)
copy for legal and archival purposes. Notwithstanding the aforesaid, receiving Party is not obliged to return or destroy Confidential
Information contained in regular IT-Backups made due to and in accordance with legally mandatory duties, provided those backups
are not reopened/recovered to make further use or disclosure beyond the original purpose.

		4.3	Notwithstanding the foregoing, or any other provision contained herein to the contrary, the receiving
Party’s obligations under Sections 4.1 and 4.2 shall not apply to the extent that the receiving Party can prove by written
evidence that the respective Confidential Information:

		a)	was known by a Party at or prior to the Effective Date, except to the extent unlawfully appropriated
by a Party or received from the disclosing Party under obligation of confidentiality; or

		b)	is or becomes generally known in the trade or business pertaining to such information or otherwise
becomes publicly known at or after the time of disclosure by the disclosing Party, through no wrongful act of the receiving Party;
or

		c)	is rightfully received by a Party from a third party without restriction and without breach of
this Agreement; or

		d)	is developed by a Party independent of any Confidential Information of the other Party, such independent
development being performed solely by persons not having access whatsoever to the other Party’s Confidential Information.

		4.4	Each Party may disclose Confidential Information of the other Party without breaching this Agreement
if such Confidential Information is required to be disclosed by a court or judicial or governmental authority of competent jurisdiction,
by any applicable law, rule or regulation, or by any applicable stock exchange or stock association rule, subject to the following
conditions: (a) prior to making any such disclosure, the Party required to make such disclosure shall provide the other Party with
as much prompt written notice thereof as reasonably practicable and legal to enable the other Party to seek a protective order
or other similar order preventing or limiting the proposed disclosure; and (b) the Party required to make such disclosure shall
disclose the other Party’s Confidential Information only to the extent required to comply with the court or judicial or governmental
authority of competent jurisdiction, the applicable law, rule or regulation, or the applicable stock exchange or stock association
rule. COMPANY represents that COMPANY is a wholly-owned subsidiary of a Curetis GmbH, that is a wholly-owned subsidiary
of Curetis N.V., a Dutch public company listed on Euronext Amsterdam that is subject to European Market Abuse Regulations (MAR).
COMPANY further represents that this Agreement constitutes Material Insider Information according to Article 7(1) of the MAR and
requires disclosure. (cf. Article 16.5).

		4.5	The foregoing provisions and obligations of this Article 4 shall remain in effect and survive for
five (5) years after termination or expiration of this Agreement, including any extensions thereto.

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

		4.6	For clarity, the confidentiality and non-use provisions in the CDA shall apply to the exchange
of Confidential Information (as defined in the CDA) between the Parties (i) before the Effective Date of this Agreement; and
(ii) otherwise than in connection with this Agreement after the Effective Date of this Agreement. The confidentiality and non-use
provisions in this Article 4 shall apply to the exchange of Confidential Information in connection with this Agreement after the
Effective Date only.

		Article	 5                  
Intellectual Property

		5.1	For purposes of this Agreement, “Intellectual Property” is all registered
and unregistered copyrights, patents, patent applications, trademarks and all patentable and unpatentable technology, know-how,
trade secrets, inventions, designs, methods, discoveries, works of authorship, modifications, improvements and all other intellectual
property rights whether registered or unregistered, that may exist anywhere in the world. It is recognized and understood that
certain Intellectual Property made, developed, owned, licensed or acquired by a Party before the Effective Date of this Agreement
or independently of this Agreement (“Background Intellectual Property”) is the separate property of that
Party and is not affected by this Agreement. Each Party shall retain ownership of and all right, title and interest, in and to
its respective Background Intellectual Property. Accordingly, except as specifically provided for herein, nothing herein contained
shall be construed as expressly or impliedly granting any right or license whatsoever to one Party under any patent, patent application
or other Background Intellectual Property right now or hereafter owned or controlled by the other Party.

		5.2	For purposes of this Agreement, “Project Intellectual Property” is all
Intellectual Property, patentable or not, that is first made, developed, created, conceived of or first reduced to practice either
solely or jointly with others as a result of performance of the services or work undertaken pursuant to the Project by one or both
of the Parties (and/or their respective affiliates, employees, personnel, consultants, contractors, agents or other third parties
engaged on their behalf). The rights of ownership in such Project Intellectual Property (and any patent or patent application claiming
any invention within such definition of Project Intellectual Property) shall be retained by the Party that employs or otherwise
engages the inventor, author, creator and/or generator of the Intellectual Property in question, and where any Project Intellectual
Property has been invented, authored, created or generated jointly by [***] and COMPANY (including where the joint invention, creation
or effort has arisen through either of their respective affiliates, consultants, contractors, agents and/or through personnel engaged
by, or on behalf of, each of [***] and COMPANY) will be jointly owned by [***] and COMPANY (“Joint Project Intellectual
Property”). Each Party shall be entitled to freely exploit Joint Project Intellectual Property without the
consent of, and without a duty of account to, the other Party. Each Party will grant and hereby does grant to the other Party all
further permissions, consents, and waivers with respect to, and all licenses under, Joint Project Intellectual Property, throughout
the world, necessary to provide the other Party with full rights of use and exploitation of the Joint Project Intellectual Property,
provided that no right or license is granted to any Background Intellectual Property or solely owned Project Intellectual Property
contained therein or necessary to such use.

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

		5.3	Each Party shall disclose in writing within thirty (30) days to the other Party any Project Intellectual
Property created by the first Party. The Parties agree to cooperate and fully discuss Joint Project Intellectual Property to determine
whether it should be maintained as a trade secret or whether patent protection of Joint Project Intellectual Property should be
sought. If the Parties agree to seek patent protection of Joint Project Intellectual Property then patent applications on Joint
Project Intellectual Property shall be prepared, filed, prosecuted, and maintained jointly by the Parties, using mutually acceptable
patent counsel, with actual and reasonable external costs related thereto shared equally. Should one Party elect not to share the
costs of preparing, filing, prosecuting, or maintaining a patent application on Joint Project Intellectual Property, the other
Party may elect to solely bear such costs, and the Party solely bearing such costs shall control the preparation, filing, prosecution
and maintenance of any patents and patent applications directed to the Joint Project Intellectual Property. Notwithstanding the
foregoing, the Party electing not to share such patent costs shall retain a royalty-free right to use the Joint Project Intellectual
Property.

		5.4	Each Party grants to the other Party a non-exclusive, non-transferable, royalty-free
license to any of its respective Background Intellectual Property that is required to conduct work under the Project for the sole
purpose of conducting work under the Project. This license to Background Intellectual Property expires at the conclusion or termination
of the Project.

		5.5	The Parties agree that all DNA sequencing results and AST data generated during the course of the
Project (“Project Data”) shall be promptly shared by COMPANY with [***] as it becomes available. Notwithstanding
anything to the contrary in this Agreement, the Project Data shall be considered [***] Project Intellectual Property as provided
herein. The Parties agree that Project Data shall be treated as the Confidential Information of [***] notwithstanding the fact
that it is disclosed to [***] by COMPANY, and COMPANY shall be treated as the receiving Party in respect thereof for the purposes
of Article 4. [***] shall be free to use and authorize others to use the Project Data for any purpose.

		Article	 6                  
Option.

		6.1	For the purposes of this Agreement, “Technology” means technology and
materials, including without limitation, technical data, designs, plans, specifications, methods, processes, systems, clinical
data, regulatory data, submissions, registrations, and other information or documentation, whether patentable or not, relating
to the database and algorithms to predict antibiotic susceptibility and resistance for microorganisms based on whole genome sequencing
and measurement of genomic markers of resistance, or its manufacture or use, which are known by, owned by and/or licensed to COMPANY,
including the Technology IP Rights. “Technology IP Rights” means all right, title and interest to intellectual
and industrial property rights recognized in any jurisdiction, including any and all know-how, utility models, registered designs,
unregistered design rights, copyright, database rights, rights in respect of confidential information, and any and all issued patents
and pending patent applications including, without limitation, any US patent or ex-US applications, provisional applications,
any counterparts, continuations, continuations-in-part, divisions, extensions, substitutions, reissues, re-examinations
or other patent applications claiming the benefit thereof, any subsequently filed patent

 

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applications, and any patents
issuing therefrom relating to the Technology, or its manufacture or use, or any improvements thereto, made by COMPANY, owned by
or assigned to COMPANY, or in which COMPANY has a licensable interest.

		6.2	During the Term and for three (3) months thereafter (“Option Period”),
COMPANY hereby grants [***] an option to negotiate an exclusive, worldwide, royalty-bearing license to make, sell, offer to
sell, use, have made, import, export or otherwise commercialize products, with a right to sublicense, to the Technology in the
field of human clinical diagnostics (“Field”). COMPANY shall immediately, but in no event more
than three (3) days, notify [***] if COMPANY receives during the Option Period any request or offer from any party or person
other than [***] related to the licensing, assignment or other disposition of the Technology that would prevent COMPANY from entering
into a license agreement as contemplated by this Section 6.2. [***] may exercise the option at any time during the Option Period
by notifying COMPANY in writing of its intent to exercise this option, at which time the parties will enter into negotiations in
good faith, to reach commercially reasonable terms for such exclusive license. If [***] does not exercise the option during the
Option Period, [***] will grant to COMPANY a non-exclusive, perpetual, irrevocable, non-transferable, non-sub licensable
(save with the express permission of [***], in writing) worldwide license to use the Project Data solely for internal research
and development purposes. For avoidance of doubt, if [***] exercises its option and the parties are not able to come to an agreement
on an exclusive license to the Technology in the Field, then [***] is not obligated to grant to COMPANY any license to use the
Project Data.

		6.3	Upon [***] exercising its option to negotiate an exclusive license, COMPANY agrees not to discuss
with any party or person other than [***], the licensing, assignment or other disposition of the Technology in the Field and furthermore
agrees not to take any action that would prevent COMPANY from entering into a license agreement as contemplated by Section 6.2
with [***] for a period of three (3) months.

		Article	 7                  
Term and Termination

		7.1	This Agreement shall be in effect for a period of ten (10) months beginning on the Effective Date
(the “Term”) unless terminated earlier in accordance with the provisions of this Agreement or extended
by mutual written consent of the Parties.

		7.2	[***] may terminate this Agreement at any time and for any reason upon thirty (30) days written
notice to COMPANY. Except for the expenses and costs incurred at the time of termination as provided for in Sections 3.2 and 3.3,
[***] shall not be obligated to make any further work plan payments under this Agreement after the date of termination. To the
extent [***] has not made both non-refundable exclusive option payments to COMPANY prior to the notice of termination, [***]
shall make any such outstanding payment within thirty (30) days of the notice of termination. Notwithstanding the foregoing, any
work plan or exclusive option related payments made by [***] as provided in Exhibit A prior to the date of such termination
for convenience by [***] shall be non-refundable.

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

		7.3	In the event that either Party commits a material breach or default with respect to any of the
terms or conditions of this Agreement and, with respect to breaches capable of remedy, that Party fails to remedy that material
default or breach within thirty (30) days after receipt of written notice of that material breach from any other Party, the Party
giving notice may, at its option and in addition to any other remedies which it may have at law or in equity, terminate this Agreement
upon written notice of such termination to the other Party.

		7.4	Upon termination for any reason, or upon expiry of this Agreement and unless agreed upon otherwise
in writing: (i) COMPANY shall immediately discontinue all use of the [***] Materials and, at [***] sole discretion, return or destroy
[***] Materials; and (ii) [***] shall, at its own discretion, return or destroy all Confidential Information of COMPANY within
ten days of such termination.

		7.5	The expiration or termination of this Agreement shall not affect the rights and obligations of
the Parties that have accrued prior thereto. In particular, and without limiting the foregoing, the provisions of Article 4 (Confidential
Information) and Article 5 (Intellectual Property) shall survive the expiry or termination hereof for the time stipulated in these
provisions and perpetual if no special time should be stipulated.

		Article	 8                  
Relationships of the Parties

Nothing in this Agreement shall
be deemed or construed as creating any agency, joint venture or partnership between the Parties. The Parties shall not conduct
their activities hereunder in such manner as to make it appear to third parties that they have formed a partnership. Any third
party, including any individuals, or employees or agents of any Party, shall not have or acquire any rights by reason of the Parties
having entered into this Agreement. The Parties shall act solely as independent contractors, and nothing in this Agreement shall
be construed to give any Party the power or authority to act for, bind, or commit any the other Party, without the prior written
consent to do so.

		Article	 9                  
Assignment

No Party may assign or transfer
(including by operation of law), in whole or in part, the Agreement or any of its rights, obligations or duties under this Agreement
without the prior written consent of the other Party at their sole discretion, provided however, that either Party may assign or
transfer, in whole or in part, the Agreement or any of its rights, obligations or duties under this Agreement without the prior
written consent of the other Party to (a) an affiliate or successor in interest to all or substantially all of such Party’s
assets to which this Agreement relates, or (b) one or more entities directly or indirectly controlling, controlled by, or under
common control with, such Party; provided that any such assignee agrees in writing to be bound by the terms of this Agreement.
Notwithstanding this, [***] acknowledges that COMPANY will involve third-party sub-contractors to perform certain analyses
on [***] Materials and consents to such sub-contracting.

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

Article 10    Indemnification

		10.1	COMPANY shall defend, indemnify and hold [***] and its affiliates, agents, and employees harmless
from and against any and all losses, liabilities, damages and expenses (including reasonable attorneys’ fees and costs) incurred
by [***] as a result of any claims, demands, actions or other proceedings by any third party arising out of the activities conducted
by COMPANY or its employees or agents on [***] facilities or the gross negligence or willful misconduct of COMPANY, its agents,
and employees in the performance of its rights or obligations contemplated by the Agreement.

		10.2	[***] shall defend, indemnify and hold COMPANY and its affiliates, agents, and employees harmless
from and against all losses, liabilities, damages and expenses (including reasonable attorneys’ fees and costs) incurred
by COMPANY as a result of any claims, demands, actions or other proceedings by any third party arising out of the gross negligence
or willful misconduct of [***], its agents, and employees in the performance of its rights or obligations contemplated by the Agreement
or from [***] use, handling, or storage of the COMPANY Materials provided by COMPANY to [***] pursuant to this Agreement.

		10.3	EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NO PARTY MAKES ANY REPRESENTATION AND EXTENDS
NO WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING AS TO THE OUTCOME, SUCCESS OR FAILURE OF THE ACTIVITIES CONTEMPLATED
HEREBY OR ANY WARRANTIES AS TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.

		10.4	NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, TO THE MAXIMUM EXTENT PERMITTED UNDER
APPLICABLE LAW, EXCEPT TO THE EXTENT INCLUDED IN A THIRD PARTY CLAIM FOR WHICH A PARTY IS OBLIGATED TO INDEMNIFY THE OTHER PURSUANT
TO SECTION 10.1 OR 10.2 OR IN CONNECTION WITH ANY BREACH OF ANY OBLIGATION UNDER Article 4 (CONFIDENTIAL INFORMATION), OR GROSS
NEGLIGENCE OR WILLFUL MISCONDUCT, NEITHER PARTY, NOR ANY OF THEIR DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR AFFILIATES, SHALL BE
LIABLE TO ANY OTHER PARTY OR ANY THIRD PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES,
OR FOR ANY LOSS OF PROFITS, REVENUE OR BUSINESS, WHETHER BASED UPON A CLAIM OR ACTION OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT
LIABILITY OR OTHER TORT, OR OTHERWISE, ARISING OUT OF THIS AGREEMENT.

		10.5	As a condition to a Party’s right to receive indemnification under this Article 10, it shall
(a) notify the indemnifying Party promptly upon becoming aware of a third party claim for which indemnification may be sought pursuant
hereto (but in no event later than thirty (30) days after such awareness, it being understood that any failure to make or
delay in making such notification shall not relieve the indemnifying Party of its obligations hereunder except to the extent such
Party is materially prejudiced by such failure or delay), (b) cooperate with the indemnifying Party in the defense, compromise
or settlement of such

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

third party claim and (c) permit
the indemnifying Party to control the defense, compromise or settlement of such third party claim including without limitation
the right to select defense counsel reasonably acceptable to the indemnified Party. In no event, however, may the indemnifying
Party compromise or settle any such third party claim in a manner which admits fault or negligence on the part of the indemnified
Party or includes injunctive relief or includes the payment of money or other property by the indemnified Party without the prior
written consent of the indemnified Party. The indemnifying Party shall have no liability under this Article 10 with respect to
third party claims settled or compromised by the indemnified party without the indemnifying party’s express prior written
consent.

		Article	 11              
Severability

Each provision of this Agreement
is a distinct and severable provision. In the event that a court of competent jurisdiction holds any provision (or any part thereof)
of this Agreement to be illegal, invalid, void or unenforceable, such provision shall be stricken from the Agreement and the remaining
provisions shall be constructed in accordance with the intent of the Parties. Such holding shall have no effect on the legality,
validity or enforceability of the remaining provisions of this Agreement, and they shall continue in full force and effect. The
Parties shall use their best efforts to negotiate, in good faith, a substitute, valid and enforceable provision, which most nearly
reflects the Parties’ intent in entering into the stricken provision. Same applies mutatis mutandis to unintentional gaps.

		Article	 12              
Entire Agreement; Modifications

		12.1	This Agreement and all attached Exhibits contain the entire agreement and understanding between
the Parties as to its subject matter. It merges all prior discussions between the Parties, and no Party shall be bound by conditions,
definitions, warranties, understandings, or representations concerning such subject matter except as provided in this Agreement,
or as specified on or subsequent to the Effective Date of this Agreement in a writing signed by properly authorized representatives
of the Parties; provided that this Agreement shall not, by effect of this Section 12.1 or otherwise, alter or otherwise affect
in any manner whatsoever any of the respective rights and obligations of [***] and COMPANY under any separate written agreement
in effect as of the Effective Date to which such Parties may also be parties, including, without limitation, the CDA and the Original
Agreement.

		12.2	This Agreement can only be modified by written Agreement duly signed by persons authorized to sign
agreements on behalf of [***] and COMPANY.

		Article	 13              
Waiver

The failure of a Party in any
instance to insist upon the strict performance of the terms of this Agreement shall not be construed to be a waiver or relinquishment
of any of the terms of this Agreement, either at the time of the Party’s failure to insist upon strict performance or at
any time in the future, and such terms shall continue in full force and effect.

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

Article 14    Governing Law

This Agreement shall be governed
by and construed in accordance with the laws of the State of New York, United States of America, applicable to contracts executed
in and to be performed in that jurisdiction, without giving effect to its rules regarding conflicts of laws. Each Party hereby
irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of New York and of
the United States of America located in the State of New York for any action, suit, or proceeding arising out of or relating to
this Agreement (and agrees not to commence any action, suit or proceeding relating hereto except in such courts). Each Party hereby
irrevocably and unconditionally waives any objection based on improper venue or forum non conveniens.

		Article	 15              
Notices

		15.1	Notices shall be in writing and shall be mailed or delivered by courier or other reasonable means
of delivery to the following addresses:

[***]:

[***]

Telephone: [***]

with a copy to:

[***]

COMPANY: Dr. Achim Plum

Managing Director

Ares Genetics GmbH

Karl-Farkas-Gasse 18

1030 Wien

Osterreich

Telephone: [***]

E-Mail: [***]

with a copy to:

Business Development

Ares Genetics GmbH

Karl-Farkas-Gasse 18

1030 Wien

Osterreich

Telephone: [***]

E-Mail: [***]

 

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    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

Article 16       Miscellaneous

		16.1	The headings contained in this Agreement are for convenience only and are not a part of this Agreement,
and do not in any way interpret, limit or amplify the scope, extent or intent of this Agreement, or any of the provisions of this
Agreement.

		16.2	This Agreement may be signed in two counterparts, each of which shall constitute an original, but
all of which together shall constitute one and the same Agreement. However, this document shall not be binding on any of the Parties
or constitute a note or memorandum of the material terms of any agreement until each Party has received delivery of a copy signed
on behalf of each of the Parties.

		16.3	No modification of, or amendment to, this Agreement shall be effective unless in writing and mutually
executed. Same applies to a waiver of this provision. The exchange of copies or signature pages of this Agreement, amendments or
any notices by facsimile transmission, by electronic mail in “portable document format” (“.pdf’) form,
or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, or by combination
of such means, shall constitute effective execution and delivery.

		16.4	No Party shall be liable for a failure to perform under this Agreement on account of general strikes,
accidents, fires, floods, explosions, acts of God, governmental actions, state of war or any other similar causes beyond the control
of that Party. Each Party shall provide the other Party with prompt written notice of any delay or failure to perform that occurs
by reason of force majeure and the Parties shall discuss in good faith any solution to such situation.

		16.5	No Party shall issue any press release or other public statement, whether oral or written (including
but not limited to electronic media), disclosing the existence of or the telills contained in this Agreement, any amendment hereto,
performance hereunder without the prior written consent of the other Party, provided however, that no Party shall be prevented
from complying with any duty of disclosure it may have pursuant to law or governmental regulation.

		16.6	No Party shall, without the prior written consent of the other Party: (a) use the name or identity
of the other Party; (b) use in advertising, publicity or otherwise, the name of any employee or agent, any trade name, trademark,
trade device, service mark, symbol, or any abbreviation, contraction or simulation thereof owned by the other Party; or (c) represent,
either directly or indirectly, that any product or service of the other Party is a product or service of the representing Party
or that it is made in accordance with or utilizes the information or documents of the other Party.

		16.7	The Parties understand and agree that there is no obligation or commitment by the Parties hereto
to enter into any agreement subsequent to this Agreement.

		16.8	Except as explicitly set forth in this Agreement, no right or license is granted under this Agreement
either expressly or by implication. It is understood that any and all proprietary

 

    	12 

    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

rights of each respective Party,
including but not limited to patent rights, in and to the Materials, shall be and remain the property of said Party.

		16.9	Each Party represents to the other to have full power and authority to enter into this Agreement,
and to fully perform its obligations hereunder, and that this Agreement has been duly executed by it and is enforceable against
it in accordance with its terms, and that to the best of its knowledge the execution of this Agreement does not violate or conflict
with, and its performance shall not violate, any other agreement to which it is a party.

 
 

    	13 

    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

 

IN WITNESS WHEREOF,
the Parties hereto have executed this Agreement by their duly authorized officers or representatives, effective as of the Effective
Date.

	ARES GENETICS GMBH	 	[***]
	
        By: /s/ Achim Plum

        Name: Dr. Achim Plum

        Title: Managing Director

        Date: September 13, 2019
	 	
        By:/s/ [***]

        Name: [***]

        Title: [***]

        Date: September 13, 2019

	ARES GENETICS GMBH	 	 
	
        By: /s/ Andreas Posch

        Name: Dr. Andreas Posch

        Title: Managing Director & CEO

        Date: September 13, 2019
	 	 

 
 

    	14 

    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

 

EXHIBIT A

PROJECT

[***]

 

Exclusive
Option

	Exclusive Option Payments	Payment Amount (due date)
	500,000 Euro (non-refundable)

                                                                                   
	
        Due within 10 days of receipt of

        final execution of Agreement

           

 

 

 

    	15 

    	Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. [***] indicates that information has been redacted.
 
 

    

EXHIBIT B

[***] MATERIALS

[***]

 

    	16Exhibit 4.1

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR
ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION
IS NOT REQUIRED UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE
MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

THE ISSUE PRICE OF THIS NOTE IS $750,000

THE ORIGINAL ISSUE DISCOUNT IS $150,000

INITIAL PRINCIPAL AMOUNT IS $125,000

INITIAL PURCHASE PRICE IS $100,000

ISSUE DATE: December 19, 2019

 

PROMISSORY NOTE

 

FOR VALUE RECEIVED,
GREEN HYGIENICS HOLDINGS INC., a Nevada corporation (hereinafter called the “Borrower”), hereby promises to pay
to the order of TRITON FUNDS LP, a Delaware limited partnership, or registered assigns (the “Holder’’) the sum
of up to $750,000, together with any interest as set forth herein, on June 19, 2020 (the “Maturity Date”), and to pay
interest on the unpaid principal balance hereof at the rate of ten percent (10%) (the “Interest Rate”) per annum from
the date hereof (the “Issue Date”) until the same becomes due and payable, whether at maturity or upon acceleration
or by prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein.
Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty two percent
(22%) per annum from the due date thereof until the same is paid (“Default Interest”). Interest shall be computed on
the basis of a 365-day year and the actual number of days elapsed. Interest shall commence accruing on the Issue Date but shall
not be payable until the Note becomes payable (whether at Maturity Date or upon acceleration or by prepayment). All payments due
hereunder (to the extent not converted into common stock, $0.001 par value per share) (the “Common Stock”) in accordance
with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address
as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Each
capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase
Agreement dated the date hereof, pursuant to which this Note was originally issued (the “Purchase Agreement”). Notwithstanding
anything to the contrary herein, the Note (including all outstanding principal and accrued interest) will be immediately due and
payable upon closing by the Borrower of any financing transaction, other than (a) any commercial financing or refinancing secured
by or otherwise in connection with that certain real property located at 13795 Blaisdell Place, Suite 202 Poway, CA 92064, (b)
any commercial financing or refinancing secured by or otherwise in connection with that certain real property located at Sol Valley
Ranch, 1876 Round Potrero Road Potrero, CA 91963, or (c) that certain contemplated proposed offering of up to $25,000,000
of the Borrower’s securities, currently anticipated to be an offering of up to 10,000,000 shares of its common stock and
warrants to purchase up to 10,000,000 additional shares of common stock at an exercise price of $3.00 per share (the “Contemplated
Proposed Offering”), in which the Borrower receives gross proceeds of at least $500,000 (a “Qualified Financing”).
This Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to
preemptive rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder
thereof.

 

    1

     

    

 

The
following terms shall apply to this Note:

 

ARTICLE I. CONVERSION RIGHTS

 

1.1 Conversion Right. The Holder
shall have the right from time to time, and at any time during the period beginning on the Issue Date and ending on the later of:
(i) the Maturity Date and (ii) the date of payment of the Default Amount (as defined in Article Ill), each in respect of the remaining
outstanding principal amount of this Note to convert all or any part of the outstanding and unpaid principal amount of this Note
into fully paid and non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital
stock or other securities of the Borrower into which such Common Stock shall hereafter be changed or reclassified at the conversion
price (the “Conversion Price”) determined as provided herein (a “Conversion”); provided, however. that
in no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion
of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares
of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Notes or the unexercised
or unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise analogous to the
limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this
Note with respect to which the determination of this proviso is being made, would result in beneficial ownership by the Holder
and its affiliates of more than 9.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately
preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause (1)
of such proviso. The beneficial ownership limitations on conversion as set forth in the section may NOT be waived by the Holder.
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,
in the form attached hereto as Exhibit A (the “Notice of Conversion”), delivered to the Borrower by the Holder in accordance
with Section 1.4 below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting
in, or reasonably expected to result in, notice) to the Borrower before 6:00 pm, New York, New York time on such conversion date
(the “Conversion Date”); however, if the Notice of Conversion is sent after 6:00 pm, New York, New York time the Conversion
Date shall be the next business day. 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, (3) at
the Holder’s option, Default Interest, if any, on the amounts referred to in the immediately preceding clauses (1) and/or
(2), (4) at the Holder’s option, any amounts owed to the Holder pursuant to Section 1.4 hereof.

 

1.2 Conversion Price. The conversion
price (the “Conversion Price”) shall equal $2.50/per share or the Default Conversion Price (as defined herein) (as
defined in Article IlI) (subject to equitable adjustments by the Borrower relating to the Borrower’s securities or the securities
of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events).
The “Default Conversion Price” shall mean 75% multiplied by the Market Price (as defined herein) (representing a discount
rate of 25%). “Market Price” means the lowest Trading Price (as defined below) for the Common Stock during the thirty
(30) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means,
for any security as of any date, the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system or applicable
trading market (the “OTC”) as reported by a reliable reporting service (“Reporting Service”) designated
by the Holder (i.e. Bloomberg) or, if the OTC is not the principal trading market for such security, the closing bid price of such
security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price
of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such
security that are listed in the “pink sheets”. If the Trading Price cannot be calculated for such security on such
date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and
the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in
order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is
tradable for any period on the OTC, or on the principal securities exchange or other securities market on which the Common Stock
is then being traded.

 

    2

     

    

 

1.3 Authorized Shares. The Borrower
covenants that during the period the conversion right exists, the Borrower will reserve from its authorized and unissued Common
Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of Common Stock upon the full conversion
of this Note issued pursuant to the Purchase Agreement. The Borrower is required at all times to have authorized and reserved six
times the number of shares that is actually issuable upon full conversion of the Note (based on the Conversion Price of the Note
in effect from time to time, initially 3,000,000) (the “Reserved Amount”). The Reserved Amount shall be increased from
time to time in accordance with the Borrower’s obligations hereunder. The Borrower represents that upon issuance, such shares
will be duly and validly issued, fully paid and non-assessable. In addition, if the Borrower shall issue any securities or make
any change to its capital structure which would change the number of shares of Common Stock into which the Notes shall be convertible
at the then current Conversion Price, the Borrower shall at the same time make proper provision so that thereafter there shall
be a sufficient number of shares of Common Stock authorized and reserved, free from preemptive rights, for conversion of the outstanding
Note. The Borrower (i) acknowledges that it has irrevocably instructed its transfer agent to issue certificates for the Common
Stock issuable upon conversion of this Note, and (ii) agrees that its issuance of this Note shall constitute full authority to
its officers and agents who are charged with the duty of executing stock certificates to execute and issue the necessary certificates
for shares of Common Stock in accordance with the terms and conditions of this Note.

 

If,
at any time the Borrower does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of the
Note.

 

1.4 Method of Conversion.

 

(a) Mechanics of Conversion. As set
forth in Section 1.1 hereof, from time to time, and at any time during the period beginning on the Issue Date ending on the later
of: (i) the Maturity Date and (ii) the date of payment of the Default Amount, this Note may be converted by the Holder in whole
or in part at any time from time to time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion (by facsimile,
e-mail or other reasonable means of communication dispatched on the Conversion Date prior to 6:00 p.m., New York, New York time)
and (B) subject to Section 1.4(b), surrendering this Note at the principal office of the Borrower (upon payment in full of any
amounts owed hereunder).

 

(b) Surrender of Note Upon Conversion.
Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance with the terms hereof, the
Holder shall not be required to physically surrender this Note to the Borrower unless the entire unpaid principal amount of this
Note is so converted. The Holder and the Borrower shall maintain records showing the principal amount so converted and the dates
of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower, so as not to require
physical surrender of this Note upon each such conversion.

 

    3

     

    

 

(c) Delivery of Common Stock Upon Conversion.
Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail (or, other reasonable means of communication)
of a Notice of Conversion meeting the requirements for conversion as provided in this Section 1.4, the Borrower shall issue and
deliver or cause to be issued and delivered to or upon the order of the Holder certificates for the Common Stock issuable upon
such conversion within ten (10) business days after such receipt (the “Deadline”) (and, solely in the case of conversion
of the entire unpaid principal amount hereof, surrender of this Note) in accordance with the terms hereof and the Purchase Agreement.
Upon receipt by the Borrower of a Notice of Conversion, the Holder shall be deemed to be the holder of record of the Common Stock
issuable upon such conversion, the outstanding principal amount and the amount of accrued and unpaid interest on this Note shall
be reduced to reflect such conversion, and, unless the Borrower defaults on its obligations hereunder, all rights with respect
to the portion of this Note being so converted shall forthwith terminate except the right to receive the Common Stock or other
securities, cash or other assets, as herein provided, on such conversion. If the Holder shall have given a Notice of Conversion
as provided herein, the Borrower’s obligation to issue and deliver the certificates for Common Stock shall be absolute and
unconditional, irrespective of the absence of any action by the Holder to enforce the same, any waiver or consent with respect
to any provision thereof, the recovery of any judgment against any person or any action to enforce the same, any failure or delay
in the enforcement of any other obligation of the Borrower to the holder of record, or any setoff, counterclaim, recoupment, limitation
or termination, or any breach or alleged breach by the Holder of any obligation to the Borrower, and irrespective of any other
circumstance which might otherwise limit such obligation of the Borrower to the Holder in connection with such conversion.

 

(d) Delivery of Common Stock by Electronic
Transfer. In lieu of delivering physical certificates representing the Common Stock issuable upon conversion, provided the
Borrower is participating in the Depository Trust Company (“OTC”) Fast Automated Securities Transfer (“FAST”)
program, upon request of the Holder and its compliance with the provisions set forth herein, the Borrower shall use its best efforts
to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion to the Holder by crediting the
account of Holder’s Prime Broker with OTC through its Deposit and Withdrawal at Custodian (“DWAC”) system.

 

    4

     

    

 

(e) Failure to Deliver Common Stock Prior
to Deadline. Without in any way limiting the Holder’s right to pursue other remedies, including actual damages and/or
equitable relief, the parties agree that if delivery of the Common Stock issuable upon conversion of this Note is not delivered
by the Deadline due to action and/or inaction of the Borrower, the Borrower shall pay to the Holder $500 per day in cash, for each
day beyond the Deadline that the Borrower fails to deliver such Common Stock (the “Fail to Deliver Fee”); provided;
however that the Fail to Deliver Fee shall not be due if the failure is a result of a third party (i.e., transfer agent; and not
the result of any failure to pay such transfer agent) despite the best efforts of the Borrower to effect delivery of such Common
Stock. Such cash amount shall be paid to Holder by the fifth day of the month following the month in which it has accrued or, at
the option of the Holder (by written notice to the Borrower by the first day of the month following the month in which it has accrued),
shall be added to the principal amount of this Note, in which event interest shall accrue thereon in accordance with the terms
of this Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of this Note.
The Borrower agrees that the right to convert is a valuable right to the Holder. The damages resulting from a failure, attempt
to frustrate, interference with such conversion right are difficult if not impossible to qualify. Accordingly, the parties acknowledge
that the liquidated damages provision contained in this Section 1.4(e) are justified.

 

1.5 Concerning the Shares. The shares
of Common Stock issuable upon conversion of this Note may not be sold or transferred unless: (i) such shares are sold pursuant
to an effective registration statement under the Act or (ii) the Borrower or its transfer agent shall have been furnished with
an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions)
to the effect that the shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration
(such as Rule 144 or a successor rule) (“Rule 144”); or (iii) such shares are transferred to an “affiliate”
(as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance with this Section
1.5 and who is an Accredited Investor (as defined in the Purchase Agreement).

 

Any
restrictive legend on certificates representing shares of Common Stock issuable upon conversion of this Note shall be removed and
the Borrower shall issue to the Holder a new certificate therefore free of any transfer legend if the Borrower or its transfer
agent shall have received an opinion of counsel from Holder’s counsel, in form, substance and scope customary for opinions
of counsel in comparable transactions, to the effect that (i) a public sale or transfer of such Common Stock may be made without
registration under the Act, which opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) in
the case of the Common Stock issuable upon conversion of this Note, such security is registered for sale by the Holder under an
effective registration statement filed under the Act; or otherwise may be sold pursuant to an exemption from registration. In the
event that the Company does not reasonably accept the opinion of counsel provided by the Holder with respect to the transfer of
Securities pursuant to an exemption from registration (such as Rule 144), at the Deadline, it will be considered an Event of Default
pursuant to Section 3.2 of the Note.

 

    5

     

    

 

1.6 Effect of Certain Events.

 

(a) Effect of Merger. Consolidation. Etc.
At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets of the Borrower, the
effectuation by the Borrower of a transaction or series of related transactions in which more than 50% of the voting power of the
Borrower is disposed of, or the consolidation, merger or other business combination of the Borrower with or into any other Person
(as defined below) or Persons when the Borrower is not the survivor shall be deemed to be an Event of Default (as defined in Article
Ill) pursuant to which the Borrower shall be required to pay to the Holder upon the consummation of and as a condition to such
transaction an amount equal to the Default Amount (as defined in Article 111). “Person” shall mean any individual,
corporation, limited liability company, partnership, association, trust or other entity or organization.

 

(b) Adjustment Due to Merger. Consolidation.
Etc. If, at any time when this Note is issued and outstanding and prior to conversion of all of the Note, there shall be any
merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event, as a result of which shares
of Common Stock of the Borrower shall be changed into the same or a different number of shares of another class or classes of stock
or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially all of the assets
of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then the Holder of this Note shall
thereafter have the right to receive upon conversion of this Note, upon the basis and upon the terms and conditions specified herein
and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion, such stock, securities or assets which
the Holder would have been entitled to receive in such transaction had this Note been converted in full immediately prior to such
transaction (without regard to any limitations on conversion set forth herein), and in any such case appropriate provisions shall
be made with respect to the rights and interests of the Holder of this Note to the end that the provisions hereof (including, without
limitation, provisions for adjustment of the Conversion Price and of the number o shares issuable upon conversion of the Note)
shall thereafter be applicable, as nearly as may be practicable in relation to any securities or assets thereafter deliverable
upon the conversion hereof., The Borrower shall not effect any transaction described in this Section 1.6(b) unless (a) it first
gives, to the extent practicable, ten (10) days prior written notice (but in any event at least five (5) days prior written notice)
of the record date of the special meeting of shareholders to approve, or if there is no such record date, the consummation of,
such merger, consolidation, exchange of shares, recapitalization, reorganization or other similar event or sale of assets (during
which time the Holder shall be entitled to convert this Note) and (b) the resulting successor or acquiring entity {if not the Borrower)
assumes by written instrument the obligations of this Note. The above provisions shall similarly apply to successive consolidations,
mergers, sales, transfers or share exchanges.

 

    6

     

    

 

(c) Adjustment Due to Distribution.
If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets) to holders of Common Stock
as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or distribution to the Borrower’s
shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary (i.e., a spin-off)) (a “Distribution”),
then the Holder of this Note shall be entitled, upon any conversion of this Note after the date of record for determining shareholders
entitled to such Distribution, to receive the amount of such assets which would have been payable to the Holder with respect to
the shares of Common Stock issuable upon such conversion had such Holder been the holder of such shares of Common Stock on the
record date for the determination of shareholders entitled to such Distribution.

 

1.7 Prepayment. Notwithstanding anything
to the contrary contained in this Note, at any time during the periods set forth on the table immediately following this paragraph
(the “Prepayment Periods”), the Borrower shall have the right, exercisable on not more than three (3) Trading Days
prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued interest), in full, in accordance
with this Section 1.7. Any notice of prepayment hereunder (an “Optional Prepayment Notice”) shall be delivered to the
Holder of the Note at its registered addresses and shall state: (l) that the Borrower is exercising its right to prepay the 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.
On the date fixed for prepayment (the “Optional Prepayment Date”), the Borrower shall make payment of the Optional
Prepayment Amount (as defined below) to Holder, or upon the direction of the Holder as specified by the Holder in a writing to
the Borrower (which shall direction to be sent to Borrower by the Holder at least one (1) business day prior to the Optional Prepayment
Date). If the Borrower exercises its right to prepay the Note, the Borrower shall make payment to the Holder of an amount in cash
equal to the percentage (“Prepayment Percentage”) as set forth in the table immediately following this paragraph opposite
the applicable Prepayment Period, multiplied by the sum of: (w) the then outstanding principal amount of this Note (x) accrued
and unpaid interest on the unpaid principal amount of this Note to the Optional Prepayment Date (y) Default Interest, if any, on
the amounts referred to in clauses (w) and (x) plus (z) any amounts owed to the Holder pursuant to Section 1.4 hereof (the “Optional
Prepayment Amount”). If the Borrower delivers an Optional Prepayment Notice and fails to pay the Optional Prepayment Amount
due to the Holder of the Note within two (2) business days following the Optional Prepayment Date, the Borrower shall forever forfeit
its right to prepay the Note pursuant to this Section 1.7.

 

	Pre-payment Period	 	Prepayment Percentage	 
	The period beginning on the Issue Date and ending on the Maturity Date.	 	 	110	%

 

    7

     

    

 

After
the Maturity Date, the Borrower shall have no right of prepayment.

 

ARTICLE II. CERTAIN COVENANTS

 

2.1 Sale of Assets.
So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent,
sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course of business. Any consent
to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

ARTICLE Ill. EVENTS OF DEFAULT

 

If
any of the following events of default (each, an “Event of Default”) shall occur:

 

3.1 Failure to Pay
Principal and Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this Note, whether at
maturity or upon acceleration and such breach continues for a period of three (3) business days after written notice from the Holder
(including, without limitation, any failure to repay the Note upon completion of a Qualified Financing in accordance herewith).

 

3.2 Conversion and
the Shares. The Borrower fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that it
will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the
terms of this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form)
any certificate for shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when
required by this Note, the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer
agent in transferring (or issuing) (electronically or in certificated form) any certificate for shares of Common Stock to be issued
to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, or fails to remove (or directs
its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or
to withdraw any stop transfer instructions in respect thereof) on any certificate for any shares of Common Stock issued to the
Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written announcement,
statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure shall continue
uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing) for three
(3) business days after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to remain current
in its obligations to its transfer agent. It shall be an event of default of this Note, if a conversion of this Note is delayed,
hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the Holder
advances any funds to the Borrower’s transfer agent in order to process a conversion, such advanced funds shall be paid by
the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder.

 

    8

     

    

 

3.3 Breach of Covenants.
The Borrower breaches any material covenant or other material term or condition contained in this Note and any collateral documents
including but not limited to the Purchase Agreement and such breach continues for a period of twenty (20) days after written notice
thereof to the Borrower from the Holder.

 

3.4
Breach
of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement, statement
or certificate given in writing pursuant hereto or in connection herewith (including, without limitation, the Purchase Agreement),
shall be false or misleading in any material respect when made and the breach of which has (or with the passage of time will have)
a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.5 Receiver or
Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply for
or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a
receiver or trustee shall otherwise be appointed.

 

3.6
Bankruptcy.
Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under
any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the
Borrower.

 

3.7 Delisting of
Common Stock. The Borrower shall fail, for a period of 135 calendar days after its receipt of written notice of Delisting,
to maintain the listing of the Common Stock on at least one of the OTC, including the Pink Sheets (which specifically includes
the quotation platforms maintained by the OTC Markets Group) or an equivalent replacement exchange, the Nasdaq National Market,
the Nasdaq SmallCap Market, the New York Stock Exchange, or the American Stock Exchange.

 

3.8 Failure to Comply
with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange Act; and/or the Borrower
shall cease to be subject to the reporting requirements of the Exchange Act.

 

3.9 Liquidation.
Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.10
Cessation
of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts
as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going
concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

    9

     

    

 

3.11 Replacement
of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails to provide, prior
to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered
pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in
the Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower.

 

3.12 Cross-Default.
Notwithstanding anything to the contrary contained in this Note or the other related or companion documents, a breach or default
by the Borrower of any covenant or other term or condition contained in any of the Other Agreements, after the passage of all applicable
notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements,
in which event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the Holder under the
terms of this Note and the Other Agreements by reason of a default under said Other Agreement or hereunder. “Other Agreements”
means, collectively, all agreements and instruments between, among or by: (1) the Borrower, and, or for the benefit of, (2) the
Holder and any affiliate of the Holder, including, without limitation, promissory notes; provided, however, the term “Other
Agreements” shall not include the related or companion documents to this Note. Each of the loan transactions will be cross-defaulted
with each other loan transaction and with all other existing and future debt of Borrower to the Holder.

 

3.13 Registration Rights.
The Borrower fails to (i) file a registration statement (the “Registration Statement”) covering the Holder’s
resale at prevailing market prices of all of the Common Stock underlying the Note and Common Stock underlying the Warrant (as defined
in the Purchase Agreement) (the “Warrant”) on or before January 15, 2020 (with the understanding that the minimum amount
of shares of the Borrower’s common stock to be registered in the Registration Statement with respect to the Holder shall
be equal to or greater than the Reserved Amount), (ii) comply with the registration rights agreement between the Borrower and Holder
entered into in connection with the issuance of this Note, or (iii) immediately amend the Registration Statement or file a new
Registration Statement (and cause such Registration Statement to become immediately effective) if there are no longer sufficient
shares registered under the initial Registration Statement for the Holder’s resale of all of the Common Stock underlying
the Note and Common Stock underlying the Warrant at prevailing market prices.

 

3.14 Minimum Volume
Weighted Average Price. The Borrower fails to maintain a daily volume weighted average price (VWAP), as reported by QuoteStream,
of $1.25 for ten consecutive trading days.

 

    10

     

    

 

Upon
the occurrence and during the continuation of any Event of Default specified in Section 3.1 (solely with respect to failure to
pay the principal hereof or interest thereon when due at the Maturity Date), the Note shall become immediately due and payable
and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Default Amount
(as defined herein). UPON THE OCCURRENCE AND DURING THE CONTINUATION OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE
SHALL BECOME IMMEDIATELY DUE AND PAYABLE AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER,
AN AMOUNT EQUAL TO: (Y) THE DEFAULT AMOUNT (AS DEFINED HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence and during the continuation
of any Event of Default specified in Sections 3.1 (solely with respect to failure to pay the principal hereof or interest thereon
when due on this Note upon a Trading Market Prepayment Event pursuant to Section 1.7 or upon acceleration), 3.3, 3.4, 3.7, 3.8,
3.10, 3.11, 3.12, 3.13, and/or 3.14 exercisable through the delivery of written notice to the Borrower by such Holders (the “Default
Notice”), and upon the occurrence of an Event of Default specified the remaining sections of Articles Ill (other than failure
to pay the principal hereof or interest thereon at the Maturity Date specified in Section 3,1 hereof), the Note shall become immediately
due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to
150% times the sum of (w) the then outstanding principal amount of this Note (x) accrued and unpaid interest on the unpaid principal
amount of this Note to the date of payment (the “Mandatory Prepayment Date”) (y) Default Interest, if any, on the amounts
referred to in clauses (w) and/or (x) (z) any amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof (the then outstanding
principal amount of this Note to the date of payment the amounts referred to in clauses (x), (y) and (z) shall collectively be
known as the “Default Amount”) and all other amounts payable hereunder shall immediately become due and payable, all
without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation,
legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at
law or in equity.

 

If the Borrower fails to pay the
Default Amount within ten (10) business days of written notice that such amount is due and payable, then the Holder shall have
the right at any time, so long as the Borrower remains in default (and so long and to the extent that there are sufficient authorized
shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default Amount, the number of shares
of Common Stock of the Borrower equal to the Default Amount divided by the Conversion Price then in effect.

 

ARTICLE IV. MISCELLANEOUS

 

4.1 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 privileges. All rights and remedies existing hereunder are cumulative to, and
not exclusive of, any rights or remedies otherwise available.

 

    11

     

    

 

4.2
Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine,
at the address or number designated below (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 addresses for
such communications shall be:

 

If
to the Borrower, to: 

 

Green
Hygienics Holdings, Inc.

13795
Blaisdell Place, Suite 202

Poway, CA
92064

ron@greenhygienicsholdings.com

 

If
to the Holder:

 

TRITON
FUNDS LP

1262
Prospect Street

La
Jolla, CA 92037

tritonfunds@tritonfunds.com

 

4.3 Amendments.
This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The term
“Note” and all reference thereto, as used throughout this instrument, shall mean this instrument (and the other Notes
issued pursuant to the Purchase Agreement) as originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4
Assignability.
This Note shall be binding upon the Borrower and its successors and assigns and shall inure to be the benefit of the Holder and
its successors and assigns. Each transferee of this Note must be an “accredited investor” (as defined in Rule 501(a)
of the Securities and Exchange Commission). Notwithstanding anything in this Note to the contrary, this Note may be pledged as
collateral in connection with a bona fide margin account or other lending arrangement; and may be assigned by the Holder without
the consent of the Borrower.

 

    12

     

    

 

4.5 Cost of Collection.
If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection, including reasonable
attorneys’ fees.

 

4.6
Governing
Law. This Note shall be governed by and construed in accordance with the laws of the State of Nevada without regard to principles
of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Note
shall be brought only in the state courts of California or in the federal courts located in the State of California. The parties
to this Note hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not
assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Borrower and Holder waive trial
by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs.
In the event that any provision of this Note or any other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid
or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party
hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in
connection with this Note, any agreement or any other document delivered in connection with this Note by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices
to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice thereof.
Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

4.7 Purchase Agreement.
By its acceptance of this Note, each party agrees to be bound by the applicable terms of the Purchase Agreement.

 

4.8 Remedies.
The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for
a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the
Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law
or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing
any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic
loss and without any bond or other security being required.

 

    13

     

    

 

4.9 Terms
of Future Financings. So long as this Note is outstanding, upon any issuance by the Borrower or any of its subsidiaries of
any security with any term more favorable to the holder of such security or with a term in favor of the holder of such security
that was not similarly provided to the Holder in this Note, then the Borrower shall notify the Holder of such additional or more
favorable term and such term, at Holder’s option, shall become a part of the transaction documents with the Holder. The types
of terms contained in another security that may be more favorable to the holder of such security include, but are not limited to,
terms addressing conversion discounts, prepayment rate, conversion lookback periods, interest rates, original issue discounts,
stock sale price, private placement price per share, and warrant coverage.

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this on December 19, 2019.

 

GREEN
HYGIENICS HOLDINGS, INC. 

 

	/s/
    Ron Loudoun	 
	By: Ron Loudoun	 
	Its: CEO	 

 

    14

     

    

 

EXHIBIT A — NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert $_____________ principal amount of the Note (defined below) into that number of shares of
Common Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of GREEN HYGIENICS
HOLDINGS INC., a Nevada corporation (the “Borrower”) according to the conditions of the convertible note of the
Borrower dated as of December 19, 2019 (the “Note” ), as of the date written below. No fee will be charged to the Holder
for any conversion, except for transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

[ ]
The Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the
undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).

 

Name
of DTC Prime Broker: Morgan Stanley Account Number:

 

[ ]
The undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock
set forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately
below or, if additional space is necessary, on an attachment hereto:

 

<HOLDER>

<ADDRESS>

<ATTENTION>

<EMAIL>

 

	Date of Conversion: 	 	 
	Applicable Conversion Price:  	 	 
	Number
    of Shares of Common Stock  to be Issued
    Pursuant to Conversion of the Note: 	 	  
	Amount
    of Principal Balance Due Remaining Under the
    Note After This Conversion:  	 	 

 

<HOLDER>

 

	By:	 	 
	Name: 	 	 
	Title: 	 	 
	Date: 	 	 

 

 

15

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