Document:

EXHIBIT 4.4

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of October 9, 2014, is entered into by and
between Windstream Technologies, Inc., a Wyoming corporation, (the “Company”), and Vista Capital Investments,
LLC (the “Buyer”).

 

A.
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”).

 

B.
Upon the terms and conditions stated in this Agreement, the Buyer desires to purchase and the Company desires to issue and sell,
upon the terms and conditions set forth in this Agreement (i) a Convertible Promissory Note of the Company, in the form attached
hereto as Exhibit A, in the original principal amount of $220,000.00 (together with any note(s) issued in replacement
thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the “Note”),
convertible into shares of common stock, $0.001 par value per share, of the Company (the “Common Stock”), (ii)
a five-year share purchase warrant entitling the Buyer to acquire shares of Common Stock, in the form attached hereto as Exhibit
B (the “Warrant”). 

 

NOW
THEREFORE, the Company and the Buyer hereby agree as follows:

 

1.
Purchase and Sale. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer
agrees to purchase from the Company (i) the Note in the original principal amount of $220,000, and (ii) the Warrant to purchase
shares of Common Stock. The number of Warrants shall be determined by multiplying 50% (fifty percent) by the aggregate amount
of the Original Principal Amount that is funded and paid to the Company (as defined in the Note) divided by the Conversion Price
(as defined in the Note) on the day of closing.

 

1.1.
Form of Payment. On the Closing Date, (i) the Buyer shall pay the purchase price of $100,000 (the “Purchase Price”)
for the Securities to be issued and sold to it at the Closing (as defined below) by wire transfer of immediately available funds
to a company account designated by the Company, in accordance with the Company’s written wiring instructions, against delivery
of the Securities, and (ii) the Company shall deliver such duly executed Securities on behalf of the Company, to the Buyer, against
delivery of such Purchase Price.

 

1.2.
Closing Date. The date and time of the issuance and sale of the Securities pursuant to this Agreement (the “Closing Date”)
shall be on or about October 9, 2014, or such other mutually agreed upon time. The closing of the transactions contemplated by
this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the
parties.

 

2.
Governing Law; Miscellaneous.

 

2.1.
Governing Law. This Agreement 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 Agreement shall be brought only in the state courts of San Diego County, California or in the federal courts located in
San Diego County, California. The parties to this Agreement 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. In the event that any provision of this Agreement 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 Agreement or any other Transaction Document 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 Agreement 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. THE COMPANY
HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	 

    	 

    

 

2.2.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but
all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each
party and delivered to the other party.

 

2.3.
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the
interpretation of, this Agreement.

 

2.4.
Severability. In the event that any provision of this Agreement 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 provision hereof which may prove invalid or unenforceable under any
law shall not affect the validity or enforceability of any other provision hereof.

 

2.5.
Entire Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of
the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither
the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision
of this Agreement may be waived or amended other than by an instrument in writing signed by the Buyer.

 

2.6.
Notices. Any notice required or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall
be deemed effectively given on the earliest of:

 

(a)
the date delivered, if delivered by personal delivery as against written receipt therefor or by e-mail to an executive officer,
or by confirmed facsimile,

 

(b)
the fifth Trading Day after deposit, postage prepaid, in the United States Postal Service by registered or certified mail, or

 

(c)
the third Trading Day after mailing by domestic or international express courier, with delivery costs and fees prepaid, in each
case, addressed to each of the other parties thereunto entitled at the following addresses (or at such other addresses as such
party may designate by ten (10) calendar days’ advance written notice similarly given to each of the other parties hereto):

 

If
to the Company, to:

 

 ______________________________

 

 ______________________________

 

 ______________________________

 

 ______________________________

 

 

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If
to the Buyer:

 

VISTA
CAPITAL INVESTMENTS, LLC

 

 ______________________________

 

 ______________________________

 

 ______________________________

 

2.7.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and assigns. Notwithstanding anything to the contrary herein, the rights, interests or obligations of the Company hereunder may
not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior written consent of the
Buyer, which consent may be withheld at the sole discretion of the Buyer; provided, however, that in the case of a merger, sale
of substantially all of the Company’s assets or other corporate reorganization, the Buyer shall not unreasonably withhold,
condition or delay such consent. This Agreement or any of the severable rights and obligations inuring to the benefit of or to
be performed by Buyer hereunder may be assigned by Buyer to a third party, including its financing sources, in whole or in part,
without the need to obtain the Company’s consent thereto.

 

2.8.
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

2.9.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement
shall survive the Closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The
Company agrees to indemnify and hold harmless the Buyer and all its officers, directors, employees, attorneys, and agents for
loss or damage arising as a result of or related to any breach or alleged breach by the Company of any of its representations,
warranties and covenants set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement
of expenses as they are incurred.

 

2.10.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

2.11.
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Buyer by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the
remedy at law for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or
threatened breach by the Company of the provisions of this Agreement, that the Buyer 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 Agreement and to enforce specifically the terms and provisions hereof, without the necessity
of showing economic loss and without any bond or other security being required.

 

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2.12.
Buyer’s Rights and Remedies Cumulative. All rights, remedies, and powers conferred in this Agreement and the Transaction
Documents on the Buyer are cumulative and not exclusive of any other rights or remedies, and shall be in addition to every other
right, power, and remedy that the Buyer may have, whether specifically granted in this Agreement or any other Transaction Document,
or existing at law, in equity, or by statute; and any and all such rights and remedies may be exercised from time to time and
as often and in such order as the Buyer may deem expedient.

 

2.13.
Ownership Limitation. If at any time after the Closing, the Buyer shall or would receive shares of Common Stock in payment
of interest or principal under Note, upon conversion of Note, under the Warrant, or upon exercise of the Warrant, so that the
Buyer would, together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of such
action or receipt of additional shares of Common Stock a number of shares exceeding 9.99% of the number of shares of Common Stock
outstanding on such date (the “Maximum Percentage”), the Company shall not be obligated and shall not issue to the
Buyer shares of Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would
no longer be exceeded by any such receipt of shares of Common Stock by the Buyer. The foregoing limitations are enforceable, unconditional
and non-waivable and shall apply to all Affiliates and assigns of the Buyer. Additionally, for so long as the Buyer or any of
its Affiliate own Securities, upon written request from the Buyer, the Company shall post (or cause to be posted), the then-current
number of issued and outstanding shares of its capital stock to the Company’s web page located at OTCmarkets.com (or such
other web page approved by the Buyer).

 

2.14.
Attorneys’ Fees and Cost of Collection. In the event of any action at law or in equity to enforce or interpret the
terms of this Agreement or any of the other Transaction Documents, the parties agree that the party who is awarded the most money
shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional award of the full amount
of the attorneys’ fees and expenses paid by such prevailing party in connection with the litigation and/or dispute without
reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses. Nothing herein shall
restrict or impair a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

[Remainder
of page intentionally left blank; signature page to follow]

 

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	SUBSCRIPTION AMOUNT:	 	 	 
	 	 	 	 
	Original Principal Amount of Note:	 	$	220,000.00	 
	 	 	 	 	 
	Purchase Price:	 	$	100,000.00	 

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

THE
COMPANY: 

 

WINDSTREAM
TECHNOLOGIES, INC.

 

	By:	/s/
    Daniel Bates	 
	 	Daniel Bates,
    CEO	 
	 	 	 
	THE
    BUYER:	 
	 	 
	VISTA
    CAPITAL INVESTMENTS, LLC	 
	 	 
	By:	/s/
    David J. Clark	 
	 	David J.
    Clark, President	 

 

    	 

    	 

    

 

EXHIBIT
A

 

NOTE

 

    	 

    	 

    

 

EXHIBIT
B

 

WARRANTEXHIBIT 4.5

 

NEITHER
THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE. THESE SECURITIES HAVE BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION 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 AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

Windstream
Technologies, Inc.

 

Convertible
Note

 

	Issuance
    Date: October 9, 2014	Original
    Principal Amount: $220,000
	Note No. WSTI-1	Consideration
    Paid at Close: $100,000

 

FOR
VALUE RECEIVED, Windstream Technologies, Inc., a Wyoming corporation (the “Company”), hereby promises to
pay to the order of Vista Capital Investments, LLC or registered assigns (the “Holder”) the amount set
out above as the Original Principal Amount (as reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise,
the “Principal”) when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise
(in each case in accordance with the terms hereof) and to pay interest (“Interest”) on any outstanding Principal
at the applicable Interest Rate from the date set out above as the Issuance Date (the “Issuance Date”) until
the same becomes due and payable, upon the Maturity Date or acceleration, conversion, redemption or otherwise (in each case in
accordance with the terms hereof).

 

The
Original Principal Amount is $220,000 (two hundred twenty thousand) plus accrued and unpaid interest and any other fees. The Consideration
is $200,000 (two hundred thousand) payable by wire transfer (there exists a $20,000 original issue discount (the “OID”)).
The Holder shall pay $100,000 of Consideration upon closing of this Note. The Holder may pay additional Consideration to the Company
in such amounts and at such dates as Holder may choose in its sole discretion. For purposes hereof, the term “Outstanding
Balance” means the Original Principal Amount, as reduced or increased, as the case may be, pursuant to the terms hereof
for conversion, breach hereof or otherwise, plus any accrued but unpaid interest, collection and enforcements costs, and any other
fees or charges incurred under this Note. The Original Principal Amount due to Holder shall be prorated based on the Consideration
paid by Holder (plus an approximate 9.1% Original Issue Discount that is prorated based on the Consideration paid by the Holder
as well as any other interest or fees) such that the Company is only required to repay the amount funded and the Company is not
required to repay any unfunded portion of this Note.

 

(1)
GENERAL TERMS

 

(a)
Payment of Principal. The “Maturity Date” shall be one year from the date of each payment of Consideration,
as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall
not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not
have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of
time and the failure to cure would result in an Event of Default.

 

    	 

    	 

    

 

(b)Interest.
A one-time interest charge of ten percent (10%) (“Interest Rate”) shall be applied on the Issuance Date to
the Original Principal Amount. Interest hereunder shall be paid on the Maturity Date (or sooner as provided herein) to the Holder
or its assignee in whose name this Note is registered on the records of the Company regarding registration and transfers of Notes
in cash or converted into Common Stock at the Conversion Price provided the Equity Conditions are satisfied.

 

(c)Security.
This Note shall not be secured by any collateral or any assets pledged to the Holder.

 

(d)Effect
of Principal Traunching. Notwithstanding anything to the contrary herein, all interest, security, default, conversion, and
other terms hereof shall apply only to the amount of the Original Principal Amount actually funded and paid by the Holder to the
Company. This Section 1(d) shall supersede any contrary provision of this Note or any related transaction document.

 

(2)
EVENTS OF DEFAULT.

 

(a)
An “Event of Default”, wherever used herein, means any one of the following events (whatever the reason and
whether it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any
court, or any order, rule or regulation of any administrative or governmental body):

 

(i)The
Company’s failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note
(including, without limitation, the Company’s failure to pay any redemption payments or amounts hereunder) or any other
Transaction Document;

 

(ii)A
Conversion Failure as defined in section 3(b)(ii)

 

(iii)The
Company or any subsidiary of the Company shall commence, or there shall be commenced against the Company or any subsidiary of
the Company under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the
Company or any subsidiary of the Company commences any other proceeding under any reorganization, arrangement, adjustment of debt,
relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect
relating to the Company or any subsidiary of the Company or there is commenced against the Company or any subsidiary of the Company
any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of 61 days; or the Company or any subsidiary
of the Company is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding
is entered; or the Company or any subsidiary of the Company suffers any appointment of any custodian, private or court appointed
receiver or the like for it or any substantial part of its property which continues undischarged or unstayed for a period of sixty
one (61) days; or the Company or any subsidiary of the Company makes a general assignment for the benefit of creditors; or the
Company or any subsidiary of the Company shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay,
its debts generally as they become due; or the Company or any subsidiary of the Company shall call a meeting of its creditors
with a view to arranging a composition, adjustment or restructuring of its debts; or the Company or any subsidiary of the Company
shall by any act or failure to act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or
any corporate or other action is taken by the Company or any subsidiary of the Company for the purpose of effecting any of the
foregoing;

 

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(iv)The
Company or any subsidiary of the Company shall default in any of its obligations under any other Note or any mortgage, credit
agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or
by which there may be secured or evidenced any indebtedness for borrowed money or money due under any long term leasing or factoring
arrangement of the Company or any subsidiary of the Company in an amount exceeding $100,000, whether such indebtedness now exists
or shall hereafter be created; and

 

(v)The
Common Stock is suspended or delisted for trading on the Over the Counter Bulletin Board market (the “Primary Market”).

 

(vi)The
Company loses its ability to deliver shares via “DWAC/FAST” electronic transfer.

 

(vii)The
Company loses its status as “DTC Eligible.”

 

(viii)The
Company shall become late or delinquent in its filing requirements as a fully-reporting issuer registered with the Securities
& Exchange Commission.

 

(b)
Upon the occurrence of any Event of Default, the Outstanding Balance shall immediately increase to 120% of the Outstanding Balance
immediately prior to the occurrence of the Event of Default (the “Default Effect”). The Default Effect 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.

 

(3)
CONVERSION OF NOTE. This Note shall be convertible into shares of the Company’s Common Stock, on the terms and conditions
set forth in this Section 3.

 

(a)
Conversion Right. Subject to the provisions of Section 3(c), at any time or times on or after the Issuance Date, the Holder
shall be entitled to convert any portion of the outstanding and unpaid Conversion Amount (as defined below) into fully paid and
nonassessable shares of Common Stock in accordance with Section 3(b), at the Conversion Price (as defined below). The number of
shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to this Section 3(a) shall be equal to the quotient
of dividing the Conversion Amount by the Conversion Price. The Company shall not issue any fraction of a share of Common Stock
upon any conversion. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall
round such fraction of a share of Common Stock up to the nearest whole share. The Company shall pay any and all transfer agent
fees, legal fees, costs and any other fees or costs that may be incurred or charged in connection with the issuance of shares
of the Company’s Common Stock to the Holder arising out of or relating to the conversion of this Note.

 

(i)
“Conversion Amount” means the portion of the Original Principal Amount and Interest to be converted, plus any
penalties, redeemed or otherwise with respect to which this determination is being made.

 

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(ii)
“Conversion Price” shall equal the lesser of (a) $0.80 or (b) 70% of the average of the 3 lowest closing bid
prices for the twenty (20) consecutive Trading Days immediately preceding the applicable Conversion Date on which the Holder elects
to convert all or part of this Note, subject to adjustment as provided in this Note. If the average of the 3 lowest closing bid
prices is less than $0.40, the Conversion price shall equal the lesser of (a) $0.80 or (b) 65% of the average of the 3 lowest
closing bid prices for the twenty (20) consecutive Trading Days immediately preceding the applicable Conversion Date on which
the Holder elects to convert all or part of this Note, subject to adjustment as provided in this Note.

 

(b)
Mechanics of Conversion.

 

(i)Optional
Conversion. To convert any Conversion Amount into shares of Common Stock on any date (a “Conversion Date”),
the Holder shall (A) transmit by email, facsimile (or otherwise deliver), for receipt on or prior to 11:59 p.m., New York, NY
Time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit A (the “Conversion
Notice”) to the Company. On or before the third Business Day following the date of receipt of a Conversion Notice (the
“Share Delivery Date”), the Company shall (A) if legends are not required to be placed on certificates of Common
Stock pursuant to the then existing provisions of Rule 144 of the Securities Act of 1933 (“Rule 144”) and provided
that the Transfer Agent is participating in the Depository Trust Company’s (“DTC”) Fast Automated Securities
Transfer Program, credit such aggregate number of shares of Common Stock to which the Holder shall be entitled to the Holder’s
or its designee’s balance account with DTC through its Deposit Withdrawal Agent Commission system or (B) if the Transfer
Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver to the address as specified
in the Conversion Notice, a certificate, registered in the name of the Holder or its designee, for the number of shares of Common
Stock to which the Holder shall be entitled which certificates shall not bear any restrictive legends unless required pursuant
the Rule 144. If this Note is physically surrendered for conversion and the outstanding Principal of this Note is greater than
the Principal portion of the Conversion Amount being converted, then the Company shall, upon request of the Holder, as soon as
practicable and in no event later than three (3) Business Days after receipt of this Note and at its own expense, issue and deliver
to the holder a new Note representing the outstanding Principal not converted. The Person or Persons entitled to receive the shares
of Common Stock issuable upon a conversion of this Note shall be treated for all purposes as the record holder or holders of such
shares of Common Stock upon the transmission of a Conversion Notice.

 

(ii)Company’s
Failure to Timely Convert. If within two (2) Trading Days after the Company’s receipt of the facsimile or email copy
of a Conversion Notice the Company shall fail to issue and deliver to Holder via “DWAC/FAST” electronic transfer the
number of shares of Common Stock to which the Holder is entitled upon such holder’s conversion of any Conversion Amount
(a “Conversion Failure”), the Original Principal Amount of the Note shall increase by $2,000 per day until
the Company issues and delivers a certificate to the Holder or credit the Holder’s balance account with DTC for the number
of shares of Common Stock to which the Holder is entitled upon such holder’s conversion of any Conversion Amount (under
Holder’s and Company’s expectation that any damages will tack back to the Issuance Date). Company will not be subject
to any penalties once its transfer agent processes the shares to the DWAC system. If the Company fails to deliver shares in
accordance with the timeframe stated in this Section, resulting in a Conversion Failure, the Holder, at any time prior to selling
all of those shares, may rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares
and have the rescinded conversion amount returned to the Outstanding Balance with the rescinded conversion shares returned to
the Company (under Holder’s and Company’s expectations that any returned conversion amounts will tack back to the
original date of the Note).

 

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(iii)DWAC/FAST
Eligibility. If the Company fails for any reason to deliver to the Holder the Shares by DWAC/FAST electronic transfer (such
as by delivering a physical stock certificate), or if there is a Conversion Failure as defined in Section 3(b)(ii), and if the
Holder incurs a Market Price Loss, then at any time subsequent to incurring the loss the Holder may provide the Company written
notice indicating the amounts payable to the Holder in respect of the Market Price Loss and the Company must make the Holder whole
by either of the following options at Holder’s election:

 

Market
Price Loss = [(High trade price for the period between the day of conversion and the day the shares clear in the Holder’s
brokerage account) x (Number of shares receivable from the conversion)] - [(Net Sales price realized by Holder) x (Number of shares
receivable from the conversion)].

 

Option
A - Pay Market Price Loss in Cash. The Company must pay the Market Price Loss by cash payment, and any such cash payment must
be made by the third business day from the time of the Holder’s written notice to the Company.

 

Option
B - Add Market Price Loss to Outstanding Balance. The Company must pay the Market Price Loss by adding the Market Price Loss to
the Outstanding Balance (under Holder’s and the Company’s expectation that any Market Price Loss amounts will tack
back to the Issuance Date).

 

In
the case that conversion shares are not deliverable by DWAC/FAST electronic transfer an additional 10% discount to the Conversion
Price will apply.

 

(iv)DTC
Eligibility & Sub-Penny. If the Company fails to maintain its status as “DTC Eligible” for any reason, or,
if the Conversion Price is less than $0.01, the Principal Amount of the Note shall increase by ten thousand dollars ($10,000)
(under Holder’s and Company’s expectation that any Principal Amount increase will tack back to the Issuance Date).
In addition, the Conversion Price shall be redefined to equal the lesser of (a) $0.80 or (b) 50% of the lowest trade occurring
during the twenty five (25) consecutive Trading Days immediately preceding the applicable Conversion Date on which the Holder
elects to convert all or part of this Note, subject to adjustment as provided in this Note.

 

(v)Book-Entry.
Notwithstanding anything to the contrary set forth herein, upon conversion of any portion of this Note in accordance with the
terms hereof, the Holder shall not be required to physically surrender this Note to the Company unless (A) the full Conversion
Amount represented by this Note is being converted or (B) the Holder has provided the Company with prior written notice (which
notice may be included in a Conversion Notice) requesting reissuance of this Note upon physical surrender of this Note. The Holder
and the Company shall maintain records showing the Principal and Interest 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 conversion.

 

(c)
Limitations on Conversions or Trading.

 

(i)
Beneficial Ownership. The Company shall not effect any conversions of this Note and the Holder shall not have the right
to convert any portion of this Note or receive shares of Common Stock as payment of interest hereunder to the extent that after
giving effect to such conversion or receipt of such interest payment, the Holder, together with any affiliate thereof, would beneficially
own (as determined in accordance with Section 13(d) of the Exchange Act and the rules promulgated thereunder) in excess of 9.99%
of the number of shares of Common Stock outstanding immediately after giving effect to such conversion or receipt of shares as
payment of interest. Since the Holder will not be obligated to report to the Company the number of shares of Common Stock it may
hold at the time of a conversion hereunder, unless the conversion at issue would result in the issuance of shares of Common Stock
in excess of 9.99% of the then outstanding shares of Common Stock without regard to any other shares which may be beneficially
owned by the Holder or an affiliate thereof, the Holder shall have the authority and obligation to determine whether the restriction
contained in this Section will limit any particular conversion hereunder and to the extent that the Holder determines that the
limitation contained in this Section applies, the determination of which portion of the principal amount of this Note is convertible
shall be the responsibility and obligation of the Holder. If the Holder has delivered a Conversion Notice for a principal amount
of this Note that, without regard to any other shares that the Holder or its affiliates may beneficially own, would result in
the issuance in excess of the permitted amount hereunder, the Company shall notify the Holder of this fact and shall honor the
conversion for the maximum principal amount permitted to be converted on such Conversion Date in accordance with Section 3(a)
and, any principal amount tendered for conversion in excess of the permitted amount hereunder shall remain outstanding under this
Note. The provisions of this Section may be waived at any time by Holder upon written notification to the Company.

 

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(d)
Other Provisions.

 

(i)Share
Reservation. The Company shall at all times reserve and keep available out of its authorized Common Stock the full number
of shares of Common Stock issuable upon conversion of all outstanding amounts under this Note; and within five (5) Business Days
following the receipt by the Company of a Holder’s notice that such minimum number of Underlying Shares is not so reserved,
the Company shall promptly reserve a sufficient number of shares of Common Stock to comply with such requirement. The Company
will at all times reserve at least 3,000,000 shares of Common Stock for conversion.

 

(ii)Prepayment.
At any time within the 180 day period immediately following the Issuance Date, the Company shall have the option, upon 10 business
days’ notice to Holder, to pre-pay the entire remaining outstanding principal amount of this Note in cash, provided that
(i) the Company shall pay the Holder 125% of the Outstanding Balance, (ii) such amount must be paid in cash on the next business
day following such 10 business day notice period, and (iii) the Holder may still convert this Note pursuant to the terms hereof
at all times until such prepayment amount has been received in full. Except as set forth in this Section the Company may not prepay
this Note in whole or in part.

 

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

 

(iv)All
calculations under this Section 3 shall be rounded up to the nearest $0.00001 or whole share.

 

(v)Nothing
herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 2 herein
for the Company’s failure to deliver certificates representing shares of Common Stock upon conversion within the period
specified herein and such Holder shall have the right to pursue all remedies available to it at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief, in each case without the need to post a bond or provide
other security. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any
other Section hereof or under applicable law.

 

    	6

    	 

    

 

(4)SECTION
3(A)(9) OR 3(A)(10) TRANSACTION. So long as this Note is outstanding, the Company shall not enter into any transaction or
arrangement structured in accordance with, based upon, or related or pursuant to, in whole or in part, either Section 3(a)(9)
of the Securities Act (a “3(a)(9) Transaction”) or Section 3(a)(10) of the Securities Act (a “3(a)(10) Transaction”).
In the event that the Company does enter into, or makes any issuance of Common Stock related to a 3(a)(9) Transaction or a 3(a)(10)
Transaction while this note is outstanding, a liquidated damages charge of 25% of the outstanding principal balance of this Note,
but not less than $25,000, will be assessed and will become immediately due and payable to the Holder at its election in the form
of cash payment or addition to the balance of this Note.

 

(5)PIGGYBACK
REGISTRATION RIGHTS. The Company shall include on the next registration statement the Company files with SEC (or on the subsequent
registration statement if such registration statement is withdrawn) all shares issuable upon conversion of this Note. Failure
to do so will result in liquidated damages of 25% of the outstanding principal balance of this Note, but not less than $25,000,
being immediately due and payable to the Holder at its election in the form of cash payment or addition to the balance of this
Note.

 

(6)REISSUANCE
OF THIS NOTE.

 

(a)Assignability.
The Company may not assign this Note. This Note will be binding upon the Company and its successors and will inure to the
benefit of the Holder and its successors and assigns and may be assigned by the Holder to anyone of its choosing without Company’s
approval.

 

(b)Lost,
Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by
the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the
Company shall execute and deliver to the Holder a new Note representing the outstanding Principal.

 

(7)NOTICES.
Any notices, consents, waivers or other communications required or permitted to be given under the terms hereof must be in writing
and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party) (iii)
upon receipt, when sent by email; or (iv) one (1) Trading Day after deposit with a nationally recognized overnight delivery service,
in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications
shall be those set forth in the communications and documents that each party has provided the other immediately preceding the
issuance of this Note or at such other address and/or facsimile number and/or to the attention of such other person as the recipient
party has specified by written notice given to each other party three (3) Business Days prior to the effectiveness of such change.
Written confirmation of receipt (i) given by the recipient of such notice, consent, waiver or other communication, (ii) mechanically
or electronically generated by the sender’s facsimile machine containing the time, date, recipient facsimile number and
an image of the first page of such transmission or (iii) provided by a nationally recognized overnight delivery service, shall
be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight delivery service
in accordance with clause (i), (ii) or (iii) above, respectively.

 

    	7

    	 

    

 

The addresses
for such communications shall be:

 

	If
    to the Company, to:	 
	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Attn:	 
	 	Email:	 
		 
	If
    to the Holder:	 
	 	 
	 	VISTA
    CAPITAL INVESTMENTS, LLC	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Attn:	 
	 	Email:	 

 

(8)
APPLICABLE LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of California,
without giving effect to conflicts of laws thereof. Any action brought by either party against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state courts of California or in the federal courts located in the
city and county of San Diego, in the State of California. Both parties and the individuals signing this Agreement agree to submit
to the jurisdiction of such courts.

 

(a)
WAIVER. Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to
insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that
party of the right thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be
in writing.

 

[Signature
Page Follows]

 

    	8

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Convertible Note to be duly executed by a duly authorized officer as of the date
set forth above.

 

	 	COMPANY:
	 	 	 
	 	Windstream
    Technologies, Inc.
	 	 	 
	 	By:	/s/
    Daniel Bates
	 	Name:	Daniel Bates
	 	Title:	Chief Executive
    Officer

 

	 	HOLDER:
	 	 	 
	 	VISTA
    CAPITAL INVESTMENTS, LLC.
	 	 	 
	 	By:	/s/
    David Clark
	 	Name:	David Clark
	 	Title:	Principal

 

[Signature
Page to Convertible Note No. WSTI-1]

 

    	 

    	 

    

 

EXHIBIT
A

 

NOTICE
OF CONVERSION

 

[Company
Contact, Position] 

Windstream
Technologies, Inc. 

[Company
Address] 

[Contact
Email Address}

 

The
undersigned hereby elects to convert a portion of the $_________________Convertible Note ________issued to Vista Capital
Investments, LLC on_____________________into Shares of Common Stock of________________according to the conditions set
forth in such Note as of the date written below.

 

By
accepting this notice of conversion, you are acknowledging that the number of shares to be delivered represents less than 10%
(ten percent) of the common stock outstanding. If the number of shares to be delivered represents more than 9.99% of the common
stock outstanding, this conversion notice shall immediately automatically extinguish and debenture Holder must be immediately
notified.

 

	Date
    of Conversion:	 	 
	 	 	 
	Conversion
    Amount:	 	 
	 	 	 
	Conversion
    Price:	 	 
	 	 	 
	Shares
    to be Delivered:	 	 

 

Shares
delivered in name of:

 

VISTA
CAPITAL INVESTMENTS, LLC

 

	Signature:	 	 
	 	By:	 
	 	Title:	 
	 	Vista
    Capital Investments, LLC

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