Document:

Exhibit 10.29

 

AGREEMENT AND AMENDMENT
TO CONVERTIBLE DEBENTURE

 

AGREEMENT AND AMENDMENT
TO CONVERTIBLE DEBENTURE dated as of February, 2013 (this “Amendment”), to the $450,000 portion of the Convertible
Debenture Effective October 19, 2010, and attached hereto as Exhibit A (the: Debenture”), issued by VG SCIENCES INC., a
Delaware corporation formally known as Viral Genetics Inc. (the “Company”), which is currently owned and held by DMBM,
Inc., a New York corporation (“DMBM”).

 

This Amendment shall memorialize certain understandings and agreements between
the Company and DMBM relating to the Debenture and otherwise. 

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and legal adequacy of which is hereby acknowledged by the
parties, the Company and DMBM hereby agree as follows:

 

1.     Terms.
Capitalized terms used in this Amendment shall have the same meanings herein as are given to such terms in the Debenture, unless
otherwise expressly defined herein.

 

2.     Amendment
of Conversion Price. Notwithstanding anything set forth in the Debenture, the Conversion Price of the Debenture is amended
to be the lower (a) the Conversion Price set forth on the fourth column of Exhibit B attached hereto and (b) a discount of thirty
percent (30%) from the average of the closing price of the Company’s common stock on the principal exchange or securities
market on which the Company’s common stock trades, for the fourteen (14) trading days prior to DMBM's submission of a conversion
notice under the Debenture.

 

3.     Limitation
on Conversion. In consideration of the Company entering into this Amendment, DMBM agrees that over the next twelve (12) months
it will not convert each month more than the principal amount of the Debenture set forth on the first column of Exhibit B attached
hereto.

 

4.     Voting Agreement. In consideration of the reduction of the Company entering into this Agreement, DMBM agrees to vote any
shares of common stock owned by  DMBM and to grant consents as to any shares of common stock owned by DMBM, with respect to
any matter that is presented to shareholders of the Company for a vote of any matter for which consents from shareholders is
sought in the manner that is directed by the Company’s Chief Executive Officer.

 

5.     Back-Up
Financing. In consideration of the Company entering into this Amendment, DMBM agrees that if the Company is unable to
secure financing for the animal testing study of its ________, DMBM will cause a third party, introduced by DMBM, or will
directly provide financing to the Company for the study up to an amount equal to $400,000.

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6.     Governing Law. Except as expressly amended hereby, the Debentures
shall remain in fully force and effect in accordance with its terms. This Amendment shall be governed by and construed and
enforced in accordance with the laws of the State of New York, without regard or reference to any of its choice of laws or
conflicts of laws principles which would require or permit the application of the laws of another jurisdiction.

 

7.     Drafting
History. In resolving any dispute or controversy arising out of or relating to this Amendment or in connection with construing
any term or provision in this Amendment, there shall be no presumption made or inference drawn because of the inclusion of a provision
not contained in a prior draft or the deletion of a provision contained in a prior draft. The parties acknowledge and agree that
this Amendment was negotiated and drafted with each party being represented by competent legal counsel of its choice and with
each party having an opportunity to participate in the drafting of the provisions hereof and shall therefore this Amendment shall
be construed and interpreted as if drafted jointly by the parties and not with any presumption against either of the parties.

 

8.     Assignment.
This Amendment may not be assigned by either party nor may a party's duties or obligations hereunder be delegated without the
prior written consent of the other party. This Amendment shall inure to the benefit of, and shall be binding upon, the parties,
their respective successors (whether by merger or consolidation, recapitalization or other similar transaction) and their permitted
assignees.

 

9.     Complete
Amendment. This Amendment and the Debenture constitutes the entire understanding and agreement of the parties with respect
to the subject matter hereof, and they supersede all prior and/or contemporaneous understandings and agreements between them,
whether oral or written, with respect to such subject matter, all of which are merged herein. There are no representations, warranties,
agreements or promises between the parties with respect to such subject matter, except those, which are expressly set forth herein.

 

10.    Headings,
Counterparts. The section headings contained in this Amendment are inserted herein for the purpose of convenience and
reference only and they are not to be given any substantive effect, nor shall they be used or have any effect upon the
construction or interpretation of any term or provision hereof. Any reference to the masculine, feminine or neuter gender
shall be a reference to such other gender as if appropriate. References to the singular shall include the plural and vice
versa. This Amendment shall be effective when duly executed counterparts are executed and delivered by each of the parties.
This Amendment may be executed in multiple counterparts (and may be executed by facsimile, PDF or electronic signature, which
shall constitute a legal and valid signature for purposes hereof), each of which shall constitute an original, and all of
which, when taken together, shall constitute one and the same document. The parties acknowledge and agree that this Amendment
is effective as of its specified date regardless of the fact that it is being execute by either of the parties on another
date (including a later date). Facsimile or PDF counterparts of this Amendment shall be deemed to be considered original and
valid counterparts hereof.

 

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IN WITNESS WHEREOF, each of the
Company and DMBM has executed this Amendment as of the Date first written above.

 

	 	VG LIFE SCIENCES, INC.
	 	 
	 	By: /s/ Haig Keledjian
	 	Name: Haig Keledjian
	 	Title: President & CEO
	 	 
	 	DMBM, INC.
	 	 
	 	By: /s/ Damon R. Devitt
	 	Name: Damon R Devitt
	 	Title: President, DMBM Inc.

 

 

 

 

 

 

 

 

 

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	 	 	Price as	Market	 	 
	Date	Amount	a % market	Price	pps	# shares
	Mar-13	$37,500.00	0.50000	0.20000	0.100000	375,000.00
	April	$37,500.00	0.50000	0.20000	0.100000	375,000.00
	May	$37,500.00	0.50000	0.20000	0.100000	375,000.00
	June	$37,500.00	0.50000	0.20000	0.100000	375,000.00
	July	$37,500.00	0.50000	0.20000	0.100000	375,000.00
	August	$37,500.00	0.50000	0.20000	0.100000	375,000.00
	Sept	$37,500.00	0.50000	0.20000	0.100000	375,000.00
	Oct	$37,500.00	0.70000	0.20000	0.140000	267,857.14
	Nov	$37,500.00	0.70000	0.20000	0.140000	267,857.14
	Dec	$37,500.00	0.70000	0.20000	0.140000	267,857.14
	Jan-14	$37,500.00	0.70000	0.20000	0.140000	267,857.14
	Feb	$37,500.00	0.70000	0.20000	0.140000	267,857.14
	 	 	 	 	 	 
	 	$450,000.00	0.58333	 	0.113514	3,964,285.71

 

    	4Exhibit 10.30

 

THE SECURITIES ACQUIRED HEREUNDER HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY
NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase
Agreement (this "Agreement") is dated as of October 20, 2010, between VG Energy, Inc., a Delaware corporation
("VGE"), Viral Genetics, Inc., a Delaware corporation (the "Parent"), and John D. Lefebvre or
his designee(s), or their permitted successors or assigns, (the "Purchasers").

 

WHEREAS Purchasers
are desirous of subscribing for and acquire from VGE the VGE Units (as defined below) listed in Schedule A in exchange for the
Purchase Price listed in Schedule A on the terms and subject to the conditions set forth herein and as more fully described in
this Agreement;

 

AND WHEREAS in further
consideration of and as an inducement to Purchaser to complete the purchase of the VGE Units, Parent is granting to Purchasers
the Warrant and the Guarantee, as described herein.

 

NOW, THEREFORE, IN CONSIDERATION of the
mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are
hereby acknowledged, VGE, Parent and Purchasers agree as follows:

 

	1.		Purchase and Sale. Upon the terms and subject to the conditions set forth herein,
concurrent with the execution and delivery of this Agreement by the parties hereto, VGE agrees to sell and the Purchasers agree
to purchase the VGE Units (as defined below) for the Purchase Price calculated in accordance with Section 2(a). Half of the Purchase
Price is allocated to the acquisition of the common shares described in Section 2 (a) (i) and half is allocated to the preferred
shares described in Section 2 (a) (ii). The Purchasers shall, upon execution hereof, deliver via wire transfer to Parent immediately
available funds equal to the Purchase Price, provided that the use of proceeds of such funds shall be determined by Section 3
herein.

 

	a.		Further Considerations. In further consideration, and as an inducement to Purchaser
to complete the purchase of the VGE Units, Parent agrees as follows:

 

	i.		Parent shall and hereby does grant to Purchasers the Warrant; and

 

	ii.		in the event that VGE is not able to obtain $250,000 of additional financing over
and above the Purchase Price by the one-year anniversary hereof, whether in cash or in kind, or files for bankruptcy or dissolution,
or

 

otherwise ceases business operations, Parent
shall accept tender of all of the VGE Units acquired hereunder in exchange for common stock of Parent in an amount equal to the
total Purchase Price of said Units divided by $0.02, subject to adjustment under Section 2(e) hereunder.

 

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	b.		Delivery. Within thirty (30) business days of receipt of the Purchase Price, VGE and
Parent shall deliver to Purchasers certificates and agreements representing the VGE Units and the Warrant.

 

	2.		Securities.

 

	a.		Each VGE Unit has a Purchase Price of $25,000 and is comprised of:

 

	i.		one hundred and fifty thousand (150,000) shares of common stock of VGE;

 

	ii.		fifteen thousand (15,000) shares of preferred stock of VGE; and

 

	iii.		a warrant to acquire one hundred and fifty thousand (150,000) shares of common stock
of VGE for $0.25 each, expiring in five (5) years.

 

	b.		The "Warrant" means a warrant to acquire shares of common stock of Parent
at the rate of $0.05 per shares, expiring in five (5) years, and in a quantity equal to the total Purchase Price for all VGE Units
acquired hereunder divided by $0.05, subject to adjustment under Section 2(e) hereunder.

 

	c.		Identical Rights and Privileges. The Securities sold to Purchasers described under
Section 2 (a) (i) and (ii) and to be delivered hereunder shall, in all respects except quantity, have identical rights and privileges
to those owned by the Parent.

 

	d.		Capitalization. The share capitalization of VGE following incorporation and as of
the date hereof shall include only the following two (2) classes of stock, and the ownership of issued and outstanding stock before
and after the purchase by Purchasers hereunder shall be as follows:

 

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	Shareholder	Common Stock Owned Before Purchase by Purchaser	Preferred Stock Owned Before Purchase by Purchaser	Common Stock Owned After Purchase by Purchaser and others	Preferred Stock Owned After Purchase by Purchaser and others
	Viral Genetics, Inc. (Parent)	30,000,000	3,000,000	28,500,000	2,850,000
	
        All other shareholders, including Purchaser

         
	-0-	-0-	1,500,000	150,000

 

 

 

Neither VGE nor Parent shall, through a
consent of shareholder in writing, a meeting of shareholders, or otherwise, authorize any additional classes of stock, nor modify
the rights of existing classes of stock, without the consent of Purchasers. The rights and privileges of the Preferred Stock shall
be as described in the attached Schedule B. VGE shall not issue more than 750,000 additional shares of Series A Preferred Stock
over and above the capitalization described above without the consent of Purchasers, subject to adjustment under Section 1 (e)
(ii).

 

	e.		Antidilution and Adjustments.

 

	i.		Antidilution. The Securities acquired by Purchasers under Section 2 (a) (i) and (ii)
shall have full antidilution protection, subject to the limits described below, such that upon any issuance or issuances by VGE
of additional shares of either common or preferred stock in exchange for any amount or any type of consideration (each, a "Dilutive
Issuance"), the Purchasers shall be granted for no consideration a quantity of additional shares of said class of stock that
shall bring Purchasers' ownership of said class of stock back to the initial percentage acquired hereunder ("Additional Shares")
of the total issued and outstanding of that class including the Dilutive Issuance. This antidilution protection and the right
of Purchasers to receive, and obligation of VGE to deliver, such Additional Shares shall only extend to dilution equal to the
issuance of the first twenty-five percent (25%) of each of the two classes of stock described in Section 2 (c), each exclusive
from the other, over and above the initial capitalization listed therein. Purchasers shall not have any such protection against additional dilution
in a given class of stock arising from the issuance of new shares of such class of stock beyond the first 25% dilution of that
class. Any fractional shares that might be issuable following such calculations shall be rounded off. For the sake of greater certainty
and for illustrative purposes only, an issuance of two hundred and fifty (250) new shares of VGE common stock, assuming VGE's issued
and outstanding shares of common stock totaled one thousand (1,000) prior to the new issuance and that Purchasers held fifty (50)
shares of common stock, would constitute an example of "25% dilution" and would result in Purchasers being issued twelve
(12) additional shares of common stock.

 

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	ii.		Adjustments to Warrants. The number of shares acquirable and the exercise prices payable
under the warrant described in Section 2 (a) (iii), as to VGE, and the Warrant described in Section 2 (b), as to the Parent, shall
be adjusted proportionally following a reverse or forward stock split, share dividend or recapitalization of the entity in question.

 

	3.		Use of Proceeds. Upon receipt of the Purchaser Price on behalf of VGE, Parent shall
direct half of the Purchase Price to be reserved by VGE for VGE operating expenses and to advance the development and research
of the Licensed IP and shall not be used to pay any new or outstanding debts of VGE, and shall reserve half for the general corporate
purposes of Parent.

 

	4.		Licensed IP. Parent shall grant to VGE an exclusive worldwide royalty-free license
to research, develop, market and commercialize those patents listed in Appendix A of the Metabolic Exclusive License Agreement
attached as Schedule B hereto that are directly related to plant cells, provided that the license shall be restricted to applications
in agriculture, energy generation and yield enhancement of plant oils (the "Fields of Use"). The license shall automatically
include any new inventions, patents or know-how acquired by the Parent or VGE in the Fields of Use.

 

	5.		General Representations Of Purchasers. Purchasers hereby represents and warrants
as follows:

 

	a.		Purchasers are over the age of 18 years;

 

	b.		Purchasers are not US Persons;

 

	c.		Purchasers acknowledge that neither the United States Securities and Exchange Commission
nor the securities commission of any state or other federal agency has made any determination as to the merits of purchasing the
Securities;

 

	d.		Purchasers have received and read all of the Parent's filings made on the OTCIQ News
and Disclosure system and available at www.pinksheets.com
including the "Quarterly Report" and "Consolidated Financial Statements" for the six months ended June
30, 2010; the "Annual Report" and "Consolidated Financial Statements" for the fiscal year ended December 31,
2009 filed on April 15, 2010 and provided along with this agreement; the "Initial Company Information and Disclosure Statements"
for the nine months and three months ending September 30, 2009 and March 31, 2009, respectively; the "Articles of Incorporation
Amendment" filed May 15, 2009; and the "Supplemental Information — Current Reporting Obligations Filing —
Merger" filed April 24, 2009; as well as all prior filings made on the SEC EDGAR system including, without limitation, the
Form 10-KSB, as amended, for the fiscal year ended December 31, 2006, the Quarterly Report on Form 10-QSB for the quarter ended
September 30, 2007, all Current Reports on Form 8-K, all other filings and disclosures made on the OTCIQ News and Disclosure system
and available at www.pinksheets.com,
all press releases, and other information; and Purchasers understand the risk of an investment in the Parent and VGE,
acknowledging that an investment in the Parent and in VGE inherently involves high risks.

 

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	e.		Purchasers, either alone or with the assistance of one or more advisers engaged by
it, have such knowledge and experience in business and financial matters that it or they is capable of evaluating the Parent and
VGE, their business operations, and the risks and merits of an investment in the Parent and VGE;

 

	f.		Purchasers have been provided with all materials and information requested by Purchasers
or its representatives, including any information requested to verify any information furnished, and Purchasers have been provided
the opportunity for direct communication between the Parent, VGE and their representatives and Purchasers and their representatives
regarding the purchase made hereby, including the opportunity to ask questions of and receive answers from the Parent and VGE
including with regards to any of the information described in 2 (d) above;

 

	g.		All information which Purchasers have provided to the Parent, VGE or their agents
or representatives concerning Purchasers' suitability to invest in the Parent and VGE is complete, accurate, and correct as of
the date of Purchasers' signature on this Agreement. Such information includes, but is not limited to, information concerning
Purchasers' personal financial affairs, business position, and the knowledge and experience of Purchasers and Purchasers' advisers;

 

	h.		Purchasers have no present intention of dividing any of the Securities or the rights
under this Agreement with others or of reselling or otherwise disposing of any portion of the securities, either currently or
after the passage of a fixed or determinable period of time or on the occurrence or nonoccurrence of any predetermined event or
circumstance;

 

	i.		Purchasers were at no time solicited by any leaflet, public promotional meeting, circular,
newspaper or magazine article, radio or television advertisement, or any other form of general advertising or solicitation in
connection with the offer, sale, or purchase of the Securities through this Agreement; and

 

	j.		Purchasers have adequate means of providing for their current needs and possible contingencies
and has no need now and anticipates no need in the foreseeable future, to sell any portion of the Securities for which Purchasers
hereby subscribe. Purchasers are able to bear the economic risks of this investment and, consequently, without limiting the generality
of the foregoing, are able to hold the securities for an indefinite period of time, and have a sufficient net worth to sustain
a loss of the entire investment, in the event such loss should occur.

 

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	k.		Purchaser is resident in a Province or Territory
of Canada or is otherwise subject to the securities laws of any of the Provinces or Territories of Canada and is an "accredited
investor" within the meaning of National Instrument 45-106 entitled "Prospectus and Registration Exemptions" by
virtue of satisfying one of the indicated criterion as follows:

 

	i.		Purchaser, either alone or with a spouse, beneficially owns financial assets having
an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000;  or

 

	ii.		Purchaser's net income before taxes exceeded $200,000 in each of the 2 most recent
calendar years or combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and, in either
case, reasonably expects to exceed that net income level in the current calendar year; or

 

	iii.		Purchaser, either alone or with a spouse, has net assets of at least $5,000,000.

 

	6.		Representations Regarding Exemptions And Restrictions On Transfer. Purchasers
represent that the Securities are being acquired without a view to, or for, resale in connection with any distribution of the
Securities or any interest therein without registration or other compliance under the Act, and that Purchasers have no direct
or indirect participation in any such undertaking or in the underwriting of such an undertaking. Purchasers understand that the
Securities have not been registered, but are being acquired by reason of a specific exemption under the Act as well as under certain
state statutes for transactions by an issuer not involving any public offering and that any disposition of the Securities may,
under certain circumstances, be inconsistent with this exemption and may make Purchasers an "underwriter" within the
meaning of the Act. Purchasers acknowledges that the Securities must be held and may not be sold, transferred, or otherwise disposed
of for value unless they are subsequently registered under the Act or an exemption from such registration is available. The Company
is under no obligation to register the Securities under the Act or under Section 12 of the Securities Exchange Act of 1934, as
amended, except as may be expressly agreed to by it in writing. The certificates representing the Securities will bear a legend
restricting transfer, except in compliance with applicable federal and state securities statutes.

 

	7.		General. Purchasers further understands, acknowledges, and agrees that:

 

	a.		This Agreement shall be construed in accordance with and governed by the laws of the
state of California.

 

	b.		This Agreement constitutes the entire agreement between the parties respecting the
subject matter hereof.

 

 

	VIRAL GENETICS, INC.		Address for Notice:
	 		
	By: /s/                                                              	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	VG ENERGY, INC.	 	Address for Notice:
	 	 	 
	By: /s/                                       	 	 
	Name:

                                                                           Title:
	 	 

 

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SCHEDULE A — PURCHASER AND UNITS INFORMATION

 

 

 

	Units Purchased (minimum one, maximum 10): 	 	2
	 	 	 
	Purchase Price: ($25,000 per Unit):	 	$50,000
	 	 	 
	John D. Lefebvre 	 	 
	type or Print
     Name of Purchaser(s) in exact Form to be Used on Records of the Company
	 	 
	 	 	 
	Purchaser Mailing Address:	 	 
	 	 	 
	 	 	/s/ 
	Number and Street	 	Signature
	 	 	 
	 	 	 
	City, State, and Postal Code	 	Signature of Joint Subscriber, If Any
	 	 	 
	 	 	Date:______________________
	Country	 	 

 

 

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SCHEDULE B — VGE Preferred Shares Certificate of
Designation

 

VG ENERGY, INC.

CERTIFICATE OF DESIGNATION

OF

SERIES A PREFERRED STOCK

 

(Pursuant to Section 151 of the Delaware
General Corporation Law)

 

VG Energy, Inc., a Delaware corporation (the "Corporation"),
hereby certifies that, pursuant to authority vested in the Board of Directors of the Corporation (the "Board of Directors")
by Article Four of the Corporation's Certificate of Incorporation (the "Certificate of Incorporation") and pursuant to
the provisions of Section 151 of the Delaware General Corporation Law, the following resolution was duly adopted by the Board of
Directors on __________________:

 

RESOLVED, The Series A Preferred Stock shall consist of 3,000,000
shares. The powers, preferences, rights, restrictions, and other matters relating to the Series A Preferred Stock are as follows:

 

	1.		Dividends — The holders of Series A Preferred Stock shall be entitled to receive
dividends as a class with the holders of Common Stock as if the Series A Convertible Preferred Stock were converted to Common
Stock on the day immediately prior to the record date for such dividends. Each share of Series A Preferred Stock shall rank on
a parity with each other share of Series A Preferred Stock with respect to dividends.

 

	2.		Liquidation

 

	(a)		In the event of any liquidation, dissolution or winding up of the Corporation, whether
voluntary or involuntary, the holders of the Series A Preferred Stock shall be entitled to receive, prior and in preference to
any distribution of assets or surplus funds of the Corporation to the holders of the Common Stock by reason of their ownership
thereof, the amount of $0.20 per share, as adjusted for any stock dividends, combinations or splits with respect to such shares

 

	(b)		In the event of any liquidation dissolution or winding up of the Corporation, either
voluntary or involuntary, and subject to the payment in full of the liquidation preferences with respect to the Series A Preferred
Stock as provided in subparagraph (a) of this Section 2, the holders of the Common Stock shall be entitled to receive, prior and
in preference to any further distribution of any of the assets or surplus funds of the Corporation to the holders of the Series
A Preferred Stock by reason of their ownership thereof, the amount per share determined by dividing $1,000,000 by the aggregate
number of shares of Common Stock entitled to receive such distribution and no more. Subject to the payment in full of the liquidation
preferences with respect to the Series A Preferred Stock as provided in subparagraph (a) of this Section 2, if upon the occurrence
of such event, the assets and funds thus distributed among the holders of the Common Stock shall be insufficient to permit the
payment to such holders of the full aforesaid preferential amount, the entire remaining assets and funds of the Corporation legally
available for distribution shall be distributed among the holders of the Common Stock in proportion to the shares of Common Stock
then hold by them.

 

	(c)		After payment to the holders of the Common Stock and the Series A Preferred Stock
of the amounts set forth in Section 2(a) and (b) above, the entire remaining assets and funds of the Corporation legally available
for distribution, if any shall be distributed among the holders of the Common Stock and the Series A Preferred Stock incorportion
to the shares of Common Stock then held by them and the shares of Common Stock which they then have the right to acquire upon
conversion of the shares of Series A Preferred Stock then held by them.

 

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	3.		Redemption — The Series A Preferred Stock may not be redeemed.

 

	4.		Voting Rights

 

Except as set forth herein or as required under applicable law,
the Series A Preferred Stock shall vote together with all other classes of stock of the Corporation as a single class on all matters
submitted for approval to the stockholders of the Corporation. Except as otherwise provided in this Article 4, the aggregate number
of votes to which the Series A Preferred Stock shall be entitled to vote is equal to the number of shares of Common Stock of the
Corporation issued and outstanding at the time of such vote multiplied by 1.01 (the "Total Series A Vote"). The number
of votes with respect to Series A Preferred Stock to which a holder of the Series A Preferred Stock is entitled to vote is equal
to the Total Series A Vote multiplied by (i) the number of shares of Series A Preferred Stock held of record by such holder divided
by (ii) the total number of Series A Preferred Stock issued and outstanding at the time of such vote. Except as required under
applicable law or the Certificate of Formation, the total votes of a majority of the shares of all classes of stock of the Corporation
entitled to vote on matters submitted for approval to the stockholders of the Corporation represented, in person or by proxy, at
a meeting of shareholders, voting together as a single class, shall be required for the approval of any matter submitted to the
stockholders of the Corporation including, but not limited to, the election of directors.

 

	5.		Conversion

The holders of the Series A Preferred Stock shall have conversion
rights as follows (the "Conversion Rights"):

 

	(a)		Right to Convert. Each share of Series A Preferred Stock shall be convertible, at
the option of the holder thereof, into the number of shares of Common Stock determined by multiplying ten by the number shares
of Series A Preferred Stock submitted for conversion, rounded to the nearest whole share.

 

	(b)		The number of shares into which the Series A Preferred Stock shall be converted shall
be adjusted for any dividend on the Common Stock payable in Common Stock or in any right to acquire Common Stock for no consideration,
or shall effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by Stock
split, reclassification or otherwise than by payment of a dividend in Common Stock or in any right to acquire Common Stock), or
in the event the outstanding shares of Common Stock shall be combined or consolidated, by reclassification or otherwise, into
a lesser number of shares of Common Stock, then the number of shares of Common Stock into which the Series A Preferred Stock shall
be adjusted appropriately consistent with such dividend, right, subdivision or amalgamation.

 

	(c)		If at any time or from time to time after the issue date of the Series A Preferred
Stock, there is a capital reorganization of the Common Stock (other than as defined elsewhere herein or as relating to a recapitalization
subdivision, combination, reclassification, exchange or substitution of shares) as part of such capital reorganization, provision
shall be made so that the holders of the Series A Preferred Stock shall thereafter be entitled to receive upon conversion of the
Series A Preferred Stock the number of shares of stock or other securities or property of the Company to which a holder of the
number of shares of Common Stock deliverable upon conversion would have been entitled in such capital reorganization, subject
to adjustment in respect of such stock or securities by the terms thereof),

 

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	(d)		Mandatory Conversion of Series A Preferred Stock. If the holders of a majority of
the Series A Preferred so vote, all of the shares of Series A Preferred Stock shall be converted to Common Stock.

 

	(e)		Mechanics of Conversion. Before any holder of Series A Preferred Stock shall be entitled
to convert the same into shares of Common Stock, he shall surrender the certificate or certificates therefore, duly endorsed,
at the office of the Corporation or of any transfer agent for such stock, and shall give written notice to the Corporation at
such office that the holder elects to convert the same and shall state therein the name or names in which the holder wishes the
certificate or certificates for shares of Common Stock to be issued. The Corporation shall, as soon as practicable thereafter,
issue and deliver at such office to such holder of Series A Preferred Stock, a certificate or certificates for the number of shares
of Common Stock to which he shall be entitled as aforesaid. Such conversion shall be deemed to have been made immediately prior
to the close of business on the date of surrender of the shares of Series A Preferred Stock to be converted, and the person or
persons entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the
record holder or holders of such shares of Common Stock on such date.

 

	(f)		No Impairment. The Corporation will not, by amendment of its Certificate of Incorporation
or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder
by the Corporation, but will at all times in good faith assist in the carrying out of all the provisions of this Section 5 and
in the taking of all such action as may be necessary or appropriate in order to protect the Conversion Rights of the holders of
the Series A Preferred Stock against impairment.

 

	(g)		Reservation of Stock Issuable Upon Conversion. The Corporation shall at all times
reserve and keep available out if its authorized but unissued shares of Common Stock, solely for the purpose of effecting the
conversion of the shares of the Series A Preferred Stock, such number of its shares of Common Stock as shall from time to time
be sufficient to effect the conversion of all outstanding shares of the Series A Preferred Stock; and if at any time the number
of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding shares
of the Series A Preferred Stock, the Corporation will take such corporate action as may, in the opinion of its counsel, be necessary
to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose,
including, without limitation, engaging in best efforts to obtain the requisite stockholder approval of any necessary amendment
to the Certificate of Incorporation.

 

	6.		Restrictions and Limitations.

 

	(a)		Transfer of Series A Preferred Stock. No person holding shares of Series A Preferred
Stock may transfer, and the Corporation shall not register the transfer of such shares of Series A Preferred Stock, whether by
sale, assignment, exchange, gift, bequest, appointment or otherwise, except to a "Permitted Transferee." The term "Permitted
Transferee" shall mean any trust that is established by the holder to whom the shares were initially issued (the "Original
Holder") for estate planning purposes that provides for distribution to the Original Holder's beneficiaries of shares of
Series A Preferred Stock upon the Original Holder's death, provided that the Original Holder retains voting control with respect
to such shares of Series A Preferred Stock until his death. Any change in the Original Holder's voting control or voting control
with respect to such Original Holder regarding such shares of Series A Preferred Stock so transferred shall automatically convert
the Series A Preferred Stock to Common Stock as set forth in Section 5(a) hereof.

 

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	(i)		If any shares of Series A Preferred Stock are acquired by any person who is not a
Permitted Transferee, all shares of Series A Preferred Stock then held by such person shall be deemed, without further act on
the part of any person, to be converted into shares of Common Stock as set forth in Section 5(s) hereof, and stock certificates
formerly representing such shares of Series A Preferred Stock shall thereupon and thereafter be deemed to represent the like number
of shares of Common Stock.

 

	(ii)		Notwithstanding anything to the contrary set forth herein, the Original Holder may
pledge his shares of Series A Preferred Stock to a pledgee pursuant to a bona fide pledge of such shares as collateral security
for indebtedness due to the pledgee; provided, however, that (i) the Original Holder at all times retains voting control with
respect to such pledged shares until an event of foreclosure or similar action, and (ii) such shares shall not be transferred
to or registered in the name of any such pledgee and shall remain subject to the provisions of this Section. In the event of foreclosure
or other similar action by the pledgee, such pledged shares of Series A Preferred Stock shall be deemed, without further act on
the part of any person, to be converted into shares of Common Stock and transferred to the pledgee.

 

	(iii)		Shares of Series A Preferred Stock shall be registered in the names of the beneficial
owners thereof and not in "street" or "nominee" name. For this purpose, a "beneficial owner" of
any shares of Series A Preferred Stock shall mean the Original Holder or a Permitted Transferee. The Corporation shall note or
cause to be noted on the certificates for shares of Series A Preferred Stock, the existence of the restrictions on transfer and
registration of transfer imposed by this Section 6.

 

	7.		No Reissuance of Series A Preferred Stock

 

No share or shares of Series A Preferred Stock acquired by the
Corporation by reason of redemption, purchase, conversion or otherwise shall be reissued, and all such shares shall be cancelled,
retired and eliminated from the shares which the Corporation shall be authorized to issue.

 

This Certificate shall become effective upon the filing thereof
with the Secretary of State of the State of Delaware.

 

The Corporation has caused this Certificate to be duly executed
and acknowledged by its undersigned duly authorized officer this ___ day of 2010.

 

 

	 	VG Energy, Inc.
	 	 
	 	By: _________________
	 	Haig Keledjian, Chief Executive Officer

 

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SCHEDULE B — Metabolic Exclusive License Agreement

 

[attached separately]

 

 

 

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