Document:

Exhibit
10.51 

 

THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED
UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED,
OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF
COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER OF THE SECURITIES
REPRESENTED BY THIS NOTE IS FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE SET FORTH HEREIN.

 

	Principal Amount: $244,852.94	Issue Date: November 3, 2020
	Purchase Price: $225,000	 
	Original Issue Discount: $19,852.94	 

 

Electromedical
Technologies, Inc.

 

8% CONVERTIBLE PROMISSORY NOTE

 

FOR
VALUE RECEIVED, pursuant to the terms and conditions of this 10% Convertible Promissory Note (this “Note”), Electromedical
Technologies, Inc., a Delaware corporation (the “Company”), hereby promises to pay to the order of JR-HD Enterprises
III, LLC, a Delaware limited liability company, or registered assigns (the “Holder”), on the first anniversary of the Issue
Date as set forth above or earlier as required pursuant to the Agreement, as defined below (as applicable, the “Maturity Date”),
the sum of $244,852.94 (the “Principal Amount”), and to pay interest on the outstanding Principal Amount at the rate of eight
percent (8%) per annum, simple interest, in each case to the extent that this Note and the Principal Amount and any accrued interest hereunder
(the “Indebtedness”) has not been converted into Conversion Shares (as defined below) prior to the Maturity Date. Interest
shall commence accruing on the date hereof (the “Issue Date”), computed on the basis of a 365-day year and the actual number
of days elapsed, and shall be payable as set forth herein.

 

This Note carries an original issue discount of
$19,852.94 (the “OID”), to cover the Holder’s accounting fees, due diligence fees, monitoring, and/or other transactional
costs incurred in connection with the purchase and sale of the Note, which is included in the principal balance of this Note. Thus, the
purchase price of this Note shall be $225,000, computed as follows: The Principal Amount minus the OID.

 

This Note is entered into pursuant to a Note Purchase
Agreement by and between the Company and the Holder dated as of the Issue Date (the “Agreement”) and is subject to the terms
and conditions thereof.

 

This Note is not a certificate of deposit or similar
obligation of, and is not guaranteed or insured by, any depository institution, the Federal Deposit Insurance Corporation, the Securities
Holder Protection Corporation or any other governmental or private fund or entity.

 

The following
terms shall apply to this Note:

 

		Section 1.	Definitions. Defined terms used herein without definition
have the meanings given them in the Agreement.

 

    	 	1	 

     

    

 

		Section
                            2.	Interest; Late Fees; Prepayment.

 

(a)            To
the extent not converted to Conversion Shares (as defined below) prior to the Maturity Date, the Principal Amount and accrued and unpaid
interest shall be due and payable in full on the Maturity Date. No payments of the Principal Amount or interest herein shall be required
prior to the Maturity Date.

 

(b)            The
Company may prepay all or any portion of the Principal Amount and any accrued and unpaid interest at any time subject to, and with,
a 20% prepayment cost being added to the amount of the Principal Amount and accrued and unpaid interest so prepaid at such
time.

 

(c)            Interest
on this Note shall accrue on a simple interest, non-compounded basis, and shall be added to the Principal Amount on the Maturity
Date or such earlier date as the Indebtedness may be paid hereunder or may be due hereunder pursuant to the terms herein, at which
time all Indebtedness shall be due and payable, unless earlier converted into Conversion Shares. In the event that any amount due
hereunder is not paid as and when due, such amounts shall accrue interest at the rate of 18% per year, simple interest,
non-compounding, until paid.

 

(d)            Whenever
any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day.

 

		Section
                            3.	Conversion.

 

(a)           Conversion
Right. Subject to the terms and conditions herein, the Holder shall have the right from time to time, and at any time following
the six month anniversary of the Issue Date and ending on the full repayment of all Indebtedness (the “Conversion Period), to
convert all or any part of the Indebtedness into fully paid and non-assessable shares of Common Stock, or any shares of capital
stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified (as applicable, the
 “Conversion Shares”) at the Conversion Price as defined and as the same may be adjusted pursuant to
Section 3(b) (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 Note or the unexercised or unconverted portion of any
other security of the Company 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,
provided, further, however, that the limitations on conversion may be waived by the Holder upon, at the election of the Holder, not
less than 61 days’ prior notice to the Company, and the provisions of the conversion limitation shall continue to apply until
such 61st day (or such later date, as determined by the Holder, as may be specified in such notice of waiver). The number
of Conversion Shares to be issued upon each conversion of this Note shall be determined by dividing the Indebtedness 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 Company by the Holder in accordance with the provisions
herein.

 

    	 	2	 

     

    

 

 (b)          Conversion Price; Adjustment.

 

		(i)	The conversion price (the “Conversion Price”)
shall initially mean $0.50, provided that such Conversion Price shall be subject to adjustment or revision as set forth herein.

 

		(ii)	The Conversion Price, as the same may have already been adjusted, shall be subject to equitable adjustments
for stock splits, stock dividends or rights offerings by the Company relating to the Company’s securities or the securities of any
subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions and similar events that occur
on or after the Issue Date. By way of example and not limitation, in the event of forward split of the Common Stock following such applicable
time in which each share of Common Stock is converted into two shares of Common Stock, the Conversion Price shall be reduced by 50%, and
in the event of a reverse split of the Common Stock following such applicable time in which each two shares of Common Stock are converted
into one share of Common Stock, the Conversion Price shall be increased by 100%.

 

(c)          Mechanics of Conversion. Subject
to the provisions of this Section 3, this Note may be converted by the Holder in whole or in part at any time from time to time
during the Conversion Period by (A) submitting to the Company a Notice of Conversion (by facsimile, e-mail or other reasonable
means of communication dispatched prior to 6:00 p.m., New York, New York time) and (B) subject to Section 3(c),
surrendering this Note at the principal office of the Company. The conversion shall be effective as of the date of delivery of the
Notice of Conversion by the time as set forth above (the “Conversion Date”), provided that if the Notice of Conversion
is not delivered by such time then the Conversion Date shall be the next Business Day and the Notice of Conversion shall be deemed
automatically updated accordingly.

 

(d)         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 Company unless the entire unpaid amount of
Indebtedness is so converted. The Holder and the Company shall maintain records showing the amount of Indebtedness so converted and
the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Company, so as not to
require physical surrender of this Note upon each such conversion. In the event of any dispute or discrepancy, such records of the
Company shall, prima facie, be controlling and determinative in the absence of manifest error. Notwithstanding the foregoing,
if any portion of this Note is converted as aforesaid, the Holder may not transfer this Note unless the Holder first physically
surrenders this Note to the Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder a new Note
of like tenor, registered as the Holder (upon payment by the Holder of any applicable transfer taxes) may request, representing in
the aggregate the remaining unpaid Indebtedness of this Note. The Holder and any assignee, by acceptance of this Note, acknowledge
and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Note, the unpaid and
unconverted principal amount of this Note represented by this Note may be less than the amount stated on the face hereof.

 

(e)           Payment of Taxes. The Company
shall not be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of
Conversion Shares or other securities or property on conversion of this Note in a name other than that of the Holder (or in street
name), and the Company shall not be required to issue or deliver any such Conversion Shares or other securities or property unless
and until the person or persons (other than the Holder or the custodian in whose street name such shares are to be held for the
Holder’s account) requesting the issuance thereof shall have paid to the Company the amount of any such tax or shall have
established to the satisfaction of the Company that such tax has been paid.

 

    	 	3	 

     

    

 

(f)           Delivery of Common Stock Upon
Conversion. Upon receipt by the Company from the Holder of the Notice of Conversion meeting the requirements for conversion as
provided in this Section 3, the Company shall issue and deliver or cause to be issued and delivered to or upon the order of the
Holder certificates for the Conversion Shares issuable upon such conversion within three (3) Business Days after such receipt
(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 Agreement. Upon receipt by the Company of a Notice of Conversion, the Holder shall be deemed to be the holder
of record of the Conversion Shares 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 Company defaults on its obligations under
this Section 3, all rights with respect to the portion of this Note being so converted shall forthwith terminate except the
right to receive the Conversion Shares 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 Company’s obligation to issue and deliver the
certificates (subject to the provisions of Section 3(g)) for Conversion Shares 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 Company 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 Company, and irrespective of any other circumstance which
might otherwise limit such obligation of the Company to the Holder in connection with such conversion.

 

(g)          Delivery of Common Stock by
Electronic Transfer. In lieu of delivering physical certificates representing the Conversion Shares issuable upon conversion,
provided the Company is participating in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer
(“FAST”) program, upon request of the Holder and its compliance with the provisions contained in this Section 3,
the Company shall use its reasonable efforts to cause its transfer agent to electronically transmit the Conversion Shares issuable
upon conversion to the Holder by crediting the account of Holder’s Prime Broker with DTC through its Deposit Withdrawal Agent
Commission (“DWAC”) system.

 

(h)          Adjustment Due to Merger,
Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to full conversion of this Note, there
shall be any merger, consolidation, or an exchange of shares, recapitalization or reorganization pursuant to a merger or
consolidation, or other similar event, as a result of which shares of Common Stock of the Company shall be changed into the same or
a different number of shares of another class or classes of stock or securities of the Company or another entity, or in case of any
sale or conveyance of all or substantially all of the assets or more than 50% of the total outstanding shares of the Company other
than in connection with a plan of complete liquidation of the Company, 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
Conversion Shares 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 of 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.

 

    	 	4	 

     

    

 

(i)            Status as Shareholder. Subject
to the terms and conditions herein, upon submission of a Notice of Conversion by the Holder, (i) this Note shall be deemed
converted into Conversion Shares and (ii) the Holder’s rights as the holder of this Note shall cease and terminate,
excepting only the right to receive the Conversion Shares as set out herein and to any remedies provided herein or otherwise
available at law or in equity to such Holder because of a failure by the Company to comply with the terms of this Note.

 

		Section
                            4.	Events of Default.

 

(a)    The Holder may elect to declare an “Event
of Default” if any of the following conditions or events shall occur and be continuing:

 

		(i)	the Company fails to pay the then-outstanding principal amount and accrued interest on this Note on any
date any such amounts become due and payable, and any such failure is not cured within three Business Days of written notice thereof by
Holder;

 

		(ii)	any representation or warranty of the Company is materially false or untrue when given;

 

		(iii)	the Company fails to comply in any material respect with any other covenant or agreement in this Note
or in the Agreement and any such failure is not cured within three Business Days of written notice thereof by Holder;

 

		(iv)	the Company fails to remain compliant with the Depository Trust Company (“DTC”), thus incurring
a “chilled” status with DTC;

 

		(v)	the Company fails to satisfy its filing or disclosure obligations under Securities Act, the Exchange Act
or the rules and guidelines issued by OTC Markets News Service, OTCMarkets.com and their affiliates;

 

		(vi)	any trading suspension imposed by the United States Securities and Exchange Commission under Section 12(j) of
the Exchange Act or Section 12(k) of the Exchange Act;

 

		(vii)	the occurrence of any delisting of the Common Stock from the Primary Trading Market or suspension of trading
of the Common Stock on the Trading Market;

 

		(viii)	the Company fails remain in good standing under the laws of the State of Delaware;

 

		(ix)	the Company shall (i) apply for or consent to the appointment of, or the taking of possession by,
a receiver, custodian, trustee or liquidator; (ii) make a general assignment for the benefit of the Company’s creditors; or
(iii) commence a voluntary case under the U.S. Bankruptcy Code as now and hereafter in effect, or any successor statute; or

 

		(x)	a proceeding or case shall be commenced, without the application or consent of the Company, in any court
of competent jurisdiction, seeking (1) liquidation, reorganization or other relief with respect to it or its assets or the composition
or readjustment of its debts, or (2) the appointment of a trustee, receiver, custodian, liquidator or the like of any substantial
part of its assets, and, in each case, such proceedings or case shall continue undismissed, or an order, judgment or decree approving
or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period of 60 days, if in the United States,
or 90 days, if outside of the United States; or an order for relief against the Company shall be entered in an involuntary case under
any bankruptcy, insolvency, composition, readjustment of debt, liquidation of assets or similar Law of any jurisdiction.

 

    	 	5	 

     

    

 

(b)   Consequences of Events of
Default. If an Event of Default has occurred and is continuing (i) the Holder may, by notice to the Company, declare all or
any portion of the then outstanding principal amount of the Note, together with all accrued and unpaid interest thereon, due and
payable, and the Note shall thereupon become, immediately due and payable in cash and (ii) the Holder shall have the right to
pursue any other remedies that the Holder may have under applicable Law.

 

		Section
                            5.	Miscellaneous.

 

(a)           Notices.
Any and all notices or other communications or deliveries to be provided hereunder shall be given in accordance with the provisions
of the Agreement.

 

(b)           Lost
or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in
exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen or
destroyed Note, a new Note so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or
destruction of this Note, and of the ownership hereof reasonably satisfactory to the Company.

 

(c)           Governing
Law. This Note, and all matters based upon, arising out of or relating in any way to this Note, including all disputes, claims
or causes of action arising out of or relating to this Note as well as the interpretation, construction, performance and enforcement
of this Note, shall be governed by the laws of the United States and the State of Delaware, without regard to any
jurisdiction’s conflict-of-laws principles.

 

(d)           Incorporation
of Provisions. The provisions of Article VI of the Agreement (Miscellaneous) of the Agreement shall apply to this Note as though
fully set forth herein, provided that each reference therein to the “Agreement” shall be deemed a reference to this Note.
In the event of any conflict between the terms of the Agreement and the terms of this Note, the terms of this Note shall control.

 

(e)           Next
Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.

 

(f)            Entire
Agreement. This Note (including any recitals hereto) and the Agreement set forth the entire understanding of the parties
with respect to the subject matter hereof, and shall not be modified or affected by any offer, proposal, statement or
representation, oral or written, made by or for any party in connection with the negotiation of the terms hereof, and may be
modified only by instruments signed by the Company and the Holder.

 

    	 	6	 

     

    

 

(g)            No
Assignment by the Company. This Note may not be assigned by the Company to any Person without the prior written consent of the
Holder in its sole discretion.

 

(h)            Currency.
All dollar amounts are in U.S. dollars.

 

[SIGNATURE PAGE FOLLOWS]

 

IN WITNESS WHEREOF, the undersigned has executed
this Note as of the Issue Date.

 

	 	Electromedical Technologies, Inc.
	 	 	 
	 	By:	 
	 	Name:	Matthew Wolfson
	 	Title:	Chief Executive Officer

 

Agreed and accepted:

 

	JR-HD Enterprises III, LLC	 
	 	 	 
	By:	 	 
	Name:	Jeff Ramson	 
	Title:	Manager	 

 

    	 	7	 

     

    

 

EXHIBIT A

NOTICE OF CONVERSION

 

The undersigned hereby elects to convert the portion
of the Indebtedness (as defined in the Note, as defined below) as set forth below pursuant to the convertible promissory note (the “Note”)
of Electromedical Technologies, Inc., a Delaware corporation (together with any successor entity thereto, the “Company”)
into that number of shares of Common Stock (as defined in the Note) to be issued pursuant to the conversion of the Note and according
to the conditions of the Note, as of the date written below.

 

The undersigned hereby requests that the Company
issue a certificate or certificates, or other permissible evidence of shares of Common Stock as set forth in the Note, for the number
of shares of Common Stock set forth below (which numbers are based on the Holder’s calculation below and which shall be confirmed
by, and subject to acceptance by, the Company) in the name(s) specified immediately below or, if additional space is necessary, on
an attachment hereto:

 

	Name: 	
    JR-HD Enterprises III, LLC

     

	Address: 	
    _____________________

    _____________________

    _____________________

    _____________________

     

	Date of Conversion: 	____________________________ 
	
     

     

    Amount of Indebtedness to be converted:
	
     

     

    $____________________________

	
     

    Applicable Conversion Price:
	
     

    $_____________________________

	
     

    Number of shares of Common Stock to be Issued:
	
     

    ______________________________ 

shares of Common Stock

 

 

	 	JR-HD Enterprises III, LLC
	 	 	 
	 	 	 
	 	By:	 
	 	Name:	Jeff Ramson
	 	Title:	Manager

 

    	 	8Exhibit 10.52

 

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.

 

	Principal Amount: $172,800.00	 	Issue Date: December 1, 2020

 

Purchase Price:
$160,000.00

 

CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE RECEIVED,
Electromedical Technologies, Inc., a Delaware corporation (hereinafter called the “Borrower”), hereby promises
to pay to the order of Jefferson Street Capital LLC, a New Jersey limited liability company, or registered assigns (the “Holder”)
the sum of $172,800.00 together with any interest as set forth herein, on December 1, 2021 (the “Maturity Date”), and
to pay interest on the unpaid principal balance hereof at the rate of five percent (5%)(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 360 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, $0.00001 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”).

 

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.

 

     

     

    

 

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 following the date of this Note and ending on the
later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount (as defined in Article III), each
in respect of the remaining outstanding amount of this Note to convert all or any part of the outstanding and unpaid 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 4.99% 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 p.m., New York, New York time on such conversion date (the “Conversion Date”); however, if the
Notice of Conversion is sent after 6:00pm, 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, plus (3) at the Holder’s
option, Default Interest, if any, on the amounts referred to in the immediately preceding clauses (1) and/or
(2) plus (4) at the Holder’s option, any amounts owed to the Holder pursuant to Sections 1.4
hereof.

 

    	 	2	 

     

    

 

1.2            Conversion
Price. The conversion price (the “Conversion Price”) (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) shall equal the lesser of (i) 70% multiplied by the average
of the two (2) lowest Trading Prices (as defined below) (representing a discount rate of 30%) for the Common Stock during the
previous twenty (20) Trading Day period before the Issue Date of this Note, or (ii) the Variable Conversion Price (as defined
herein). The “Variable Conversion Price” shall mean, 70% multiplied by the Market Price (as defined herein)
(representing a discount rate of 30%). “Market Price” means the average of the two (2) lowest Trading Prices for
the Common Stock during the twenty (20) 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 lowest traded price of the Common Stock 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 lowest traded price of the such security on the principal securities exchange or trading market where
such security is listed or traded or, if no lowest traded price of such security is available in any of the foregoing manners, the
average of the lowest 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 reasonably determined by the Borrower. “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. The Borrower shall be responsible for the fees of its transfer agent and all DTC fees associated with any such
issuance. Holder shall be entitled to deduct $750.00 from the conversion amount in each Notice of Conversion to cover Holder’s
deposit fees associated with each Notice of Conversion.

 

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 would be issuable upon full conversion of the Note (assuming that the
4.99% limitation set forth in Section 1.1 is not in effect)(based on the respective Conversion Price of the Note (as defined in
Section 1.2) in effect from time to time, initially 7,500,000) (the “Reserved Amount”). The Reserved Amount shall
be increased (or decreased with the written consent of the Holder) 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.

 

    	 	3	 

     

    

 

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
date which is one hundred eighty (180) days following the date of this Note and 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.

 

(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 two (2) 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.

 

    	 	4	 

     

    

 

(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 (“DTC”) 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 DTC through its Deposit and Withdrawal at Custodian
(“DWAC”) system.

 

(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
$2,000 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).

 

    	 	5	 

     

    

 

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.

 

		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 III) 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 III).
 “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 of 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 affect 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: (1) 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 direction
shall 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 plus (x) accrued and unpaid interest on the unpaid
principal amount of this Note to the Optional Prepayment Date plus (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.

 

    	 	7	 

     

    

 

	Prepayment Period	 	Prepayment Percentage	 
	 1.    The period beginning on the Issue Date and ending on the date which is one hundred eighty (180) calendar days following the Issue Date.	 	 	125	%

 

 

After the expiration of one
hundred eighty (180) days following the Issue 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.

 

2.2           Variable
Security Blocker. The Borrower shall not enter into a similar type financing transaction (e.g. convertible promissory note)
with, or issue a Variable Security (as defined herein) to, any party other than the Holder for a period of sixty (60) Trading Days
following the funding date of the Note without written approval from the Holder. A Variable Security shall mean any security issued
by the Borrower that (i) has or may have conversion rights of any kind, contingent, conditional or otherwise in which the
number of shares that may be issued pursuant to such conversion right varies with the market price of the common stock; (ii) is
or may become convertible into common stock (including without limitation convertible debt, warrants or convertible preferred
stock), with a conversion or exercise price that varies with the market price of the common stock, even if such security only
becomes convertible or exercisable following an event of default, the passage of time, or another trigger event or condition; or
(iii) was issued or may be issued in the future in exchange for or in connection with any contract, security, or instrument,
whether convertible or not, where the number of shares of common stock issued or to be issued is based upon or related in any way to
the market price of the common stock, including, but not limited to, common stock issued in connection with a
Section 3(a)(9) exchange, a Section 3(a)(10) settlement, or any other similar settlement or exchange. The
Borrower agrees that this is a material term of the Note and any breach of this Section 2.2 will result in an Event of Default
under Section 3.3 of this Note.

 

    	 	8	 

     

    

 

2.3           Right
of First Refusal. Unless it shall have first delivered to the Buyer, at least seventy two (72) hours prior to the closing of
such Future Offering (as defined herein), written notice describing the proposed Future Offering, including the terms and conditions
thereof, and providing the Buyer an option during the seventy two (72) hour period following delivery of such notice to purchase the
securities being offered in the Future Offering on the same terms as contemplated by such Future Offering (the limitations referred
to in this sentence and the preceding sentence are collectively referred to as the “Right of First Refusal”) (and
subject to the exceptions described below), the Company will not conduct any equity financing (including debt with an equity
component) (“Future Offerings”) during the period beginning on the Closing Date and ending twelve (12) months following
the Closing Date. In the event the terms and conditions of a proposed Future Offering are amended in any respect after delivery of
the notice to the Buyer concerning the proposed Future Offering, the Company shall deliver a new notice to the Buyer describing the
amended terms and conditions of the proposed Future Offering and the Buyer thereafter shall have an option during the seventy two
(72) hour period following delivery of such new notice to purchase its pro rata share of the securities being offered on the same
terms as contemplated by such proposed Future Offering, as amended. The foregoing sentence shall apply to successive amendments to
the terms and conditions of any proposed Future Offering. The Right of First Refusal shall not apply to any transaction involving
(i) issuances of securities in a firm commitment underwritten public offering (excluding a continuous offering pursuant to
Rule 415 under the 1933 Act), (ii) issuances to employees, officers, directors, contractors, consultants or other advisors
approved by the Board, (iii) issuances to strategic partners or other parties in connection with a commercial relationship, or
providing the Company with equipment leases, real property leases or similar transactions approved by the Board (iv) issuances
of securities as consideration for a merger, consolidation or purchase of assets, or in connection with any strategic partnership or
joint venture (the primary purpose of which is not to raise equity capital), or in connection with the disposition or acquisition of
a business, product or license by the Company. The Right of First Refusal also shall not apply to the issuance of securities upon
exercise or conversion of the Company’s options, warrants or other convertible securities outstanding as of the date hereof or
to the grant of additional options or warrants, or the issuance of additional securities, under any Company stock option or
restricted stock plan approved by the shareholders of the Company.

 

ARTICLE III. 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 five (5) days after written notice from the
Holder.

 

    	 	9	 

     

    

 

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 two (2) 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.

 

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.

 

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, Caveat Emptor. The Borrower shall fail to maintain the listing of the Common Stock on at least one of the OTC
(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, or the Borrower
stock shall have a caveat emptor or skull and bones designation by OTC Markets.

 

    	 	10	 

     

    

 

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.

 

3.11         Financial
Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC at any time after 180 days
after the Issuance Date for any date or period until this Note is no longer outstanding, if the result of such restatement would, by
comparison to the un-restated financial statement, have constituted a material adverse effect on the rights of the Holder with
respect to this Note or the Purchase Agreement.

 

3.12         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.

 

3.13         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.

 

3.14        Unavailability of Rule 144.
If, at any time on or after the date which is six (6) months after the Issue Date, the Holder is unable to (i) obtain a standard
 “144 legal opinion letter” from an attorney reasonably acceptable to the Holder, the Holder’s brokerage firm (and respective
clearing firm), and the Borrower’s transfer agent in order to facilitate the Holder’s conversion of any portion of the Note
into free trading shares of the Borrower’s Common Stock pursuant to Rule 144, and (ii) thereupon deposit such shares into
the Holder’s brokerage account.

 

    	 	11	 

     

    

 

3.15            Failure
to Increase Authorized Shares of Common Stock. If at any time while this Note is outstanding the Conversion Price of the Common
Stock of the Company is equal to or less than $0.15 per share (the “Increase Price Threshold”) and the Company fails to
increase its authorized shares of Common Stock to at least 300,000,000 and reserve such shares for the Holder in such amount as set
forth in this Note within thirty five (35) calendar days of the Increase Price Threshold.

 

Upon the
occurrence of any Event of Default specified in Sections 3.1, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.12, 3.13, and/or 3.15
exercisable through the delivery of written notice to the Borrower by such Holder (the “Default Notice”), 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 (i) 150% (except with respect to SECTION 3.2, AND/OR 3.14, in which case 150% shall be replaced with 200%)
times the sum of (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid interest on the unpaid
principal amount of this Note to the date of payment (the “Mandatory Prepayment Date”) plus (y) Default Interest,
if any, on the amounts referred to in clauses (w) and/or (x) plus (z) any other amounts owed to the Holder pursuant
to the terms hereof (the then outstanding principal amount of this Note to the date of payment plus the amounts referred to in
clauses (x), (y) and (z) shall collectively be known as the “Default Sum”) or (ii) at the option of the
Holder, the “parity value” of the Default Sum to be prepaid, where parity value means (a) the highest number of
shares of Common Stock issuable upon conversion of or otherwise pursuant to such Default Sum in accordance with Article I,
treating the Trading Day immediately preceding the Mandatory Prepayment Date as the “Conversion Date” for purposes of
determining the lowest applicable Conversion Price, unless the Default Event arises as a result of a breach in respect of a specific
Conversion Date in which case such Conversion Date shall be the Conversion Date), multiplied by (b) the highest Trading Price
for the Common Stock during the period beginning on the date of first occurrence of the Event of Default and ending one day prior to
the Mandatory Prepayment Date (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. Further, if a breach of Sections 3.9, 3.10 and/or 3.14 occurs or is continuing after the
six (6) month anniversary of this Note, then the principal amount of the Note shall increase by Fifteen Thousand and No/100
United States Dollars ($15,000) (under Holder’s and Borrower’s expectation that any principal amount increase will tack
back to the Issue Date) and the Holder shall be entitled to use the lowest Trading Price during the delinquency period as a base
price for the conversion with the Variable Conversion Price shall be redefined to mean forty percent (40%) multiplied by the Market
Price (at the option of the Holder), subject to adjustment as provided in this Note. For example, if the lowest Trading Price during
the delinquency period is $0.01 per share and the conversion discount is 50%, then the Holder may elect to convert future
conversions at $0.005 per share. If this Note is not paid at Maturity Date, then the outstanding principal due under this Note shall
increase by Fifteen Thousand and No/100 United States Dollars ($15,000).

 

    	 	12	 

     

    

 

The Holder shall
have the right at any time, to require the Borrower 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, subject to the terms of this Note. This
requirement by the Borrower shall automatically apply upon the occurrence of an Event of Default without the need for any party to give
any notice or take any other action.

 

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

 

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.

 

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, e-mail, 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:

 

Electromedical Technologies Inc.

16561 N. 92nd Street, Suite 101

Scottsdale, Arizona 85260

 

    	 	13	 

     

    

 

If to the Holder:

 

Jefferson Street
Capital LLC

720 Monroe Street,
Suite C401B

Hoboken, New
Jersey 07030

 

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            Most
Favored Nation. During the period where any monies are owed to the Holder pursuant to this Note, if the Borrower engages in any
future financing transactions with a third party investor, the Borrower will provide the Holder with written notice (the “MFN
Notice”) thereof promptly but in no event less than 10 days prior to closing any financing transactions. Included with the MFN
Notice shall be a copy of all documentation relating to such financing transaction and shall include, upon written request of the
Holder, any additional information related to such subsequent investment as may be reasonably requested by the Holder. In the event
the Holder determines that the terms of the subsequent investment are preferable to the terms of the securities of the Borrower
issued to the Holder pursuant to the terms of the Purchase Agreement, the Holder will notify the Borrower in writing. Promptly after
receipt of such written notice from the Holder, the Borrower agrees to amend and restate the Securities (which may include the
conversion terms of this Note), to be identical to the instruments evidencing the subsequent investment. Notwithstanding the
foregoing, this Section 4.4 shall not apply in respect of (i) an Exempt Issuance, or (ii) an underwritten public
offering of Common Stock. “Exempt Issuance” means the issuance of: (a) shares of Common Stock or options to
employees, officers, consultants, advisors or directors of the Borrower pursuant to any stock or option plan duly adopted for such
purpose by a majority of the members of the Board of Directors or a majority of the members of a committee of directors established
for such purpose, (b) securities upon the exercise or exchange of or conversion of this Note and/or other securities
exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date hereof, and
(c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors
of the Borrower, provided that any such issuance shall only be to a Person which is, itself or through its subsidiaries, an
operating company in a business synergistic with the business of the Borrower and in which the Borrower receives benefits in
addition to the investment of funds, but shall not include a transaction in which the Borrower is issuing securities primarily for
the purpose of raising capital or to an entity whose primary business is investing in securities.

 

4.5            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.

 

    	 	14	 

     

    

 

4.6            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.

 

4.7            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 New York or in the federal courts located in the Eastern District of New
York. 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.

 

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

 

4.9            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.

 

    	 	15	 

     

    

 

IN WITNESS WHEREOF, Borrower
has caused this Note to be signed in its name by its duly authorized officer this on December 1, 2020

 

Electromedical
Technologies Inc.

 

	By:		 
	 	Name: Matthew Wolfson	 
	 	Title: Chief Executive Officer	 

 

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 Electromedical Technologies, Inc., a Delaware corporation (the “Borrower”)
according to the conditions of the convertible note of the Borrower dated as of December 1, 2020 (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:

     

    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:

     

    [Insert Name and Address of Holder Here]

 

	 	Date of conversion:	 	 	 	 
	 	Applicable Conversion Price:	 	$	 	 

	 	Number of shares of common stock to be issued pursuant to conversion of the Notes:	 	 	 	 	 
	 	Amount
    of Principal Balance due remaining under the Note after this conversion: 	 	 	 	 	 
	 	 	 	 	 	 

 

	 	JEFFERSON STREET CAPITAL LLC
	 	By:	 	
	 	Name:	 	 
		Title:	 	
		Date:	 	

 

    	 	16

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