Document:

NEITHER THIS NOTE NOR THE SECURITIES THAT
MAY BE ISSUED BY THE COMPANY UPON CONVERSION HEREOF (COLLECTIVELY, THE “SECURITIES”) HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER
THE SECURITIES NOR ANY INTEREST OR PARTICIPATION THEREIN MAY BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED: (i) IN THE ABSENCE
OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE 1933 ACT, OR APPLICABLE STATE SECURITIES LAWS; OR (ii) IN THE
ABSENCE OF AN OPINION OF COUNSEL, IN A FORM ACCEPTABLE TO THE ISSUER, THAT REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT OR;
(iii) UNLESS SOLD, TRANSFERRED OR ASSIGNED PURSUANT TO RULE 144 UNDER THE 1933 ACT.

 

12%
CONVERTIBLE PROMISSORY NOTE

Maturity
Date of August 17, 2017 *the “Maturity Date”

$55,000
November 17, 2016 *the “Issuance Date”

FOR VALUE
RECEIVED, Grey Cloak Tech Inc., a Nevada
Corporation (the “Company”) doing business in Las
Vegas, NV, hereby promises to pay to the order of JSJ Investments Inc., an accredited investor and Texas Corporation, or
its assigns (the “Holder”), the principal
amount of Fifty Five Thousand Dollars ($55,000) (“Note”),
on demand of the Holder at any time on or after August 17, 2017 (the “Maturity
Date”), and to pay interest on the unpaid principal balance hereof at the rate of Twelve
Percent (12%) per annum (the “Interest Rate”) commencing
on the date hereof (the “Issuance Date”).

		1.	Payments of Principal and Interest.

		a.	Pre-Payment and Payment of Principal
and Interest. The Company may pay this Note in full, together with any and all accrued and
unpaid interest, plus any applicable pre-payment premium set forth herein and subject to the terms of this Section 1.a, at any
time on or prior to the date which occurs 180 days after the Issuance Date hereof (the “Prepayment Date”). In the event
the Note is not prepaid in full on or before the Prepayment Date, it shall be deemed a “Pre-Payment Default” hereunder.
Until the Ninetieth (90th) day after the Issuance Date the Company may pay the principal at a cash redemption premium of 135%,
in addition to outstanding interest, without the Holder’s consent; from the 91st day to the One Hundred and Twentieth (120th)
day after the Issuance Date, the Company may pay the principal at a cash redemption premium of 140%, in addition to outstanding
interest, without the Holder’s consent; from the 121st day to the Prepayment Date, the Company may pay the principal at a
cash redemption premium of 145%, in addition to outstanding interest, without the Holder’s consent. After the Prepayment
Date up to the Maturity Date this Note shall have a cash redemption premium of 150% of the then outstanding principal amount of
the Note, plus accrued interest and Default Interest, if any, which may only be paid by the Company upon Holder’s prior written
consent. At any time on or after the Maturity Date, the Company may repay the then outstanding
principal plus accrued interest and Default Interest (defined below), if any, to the Holder.

		b.	Demand of Repayment. The principal and interest
balance of this Note shall be paid to the Holder hereof on demand by the Holder at any time on or after the Maturity Date. The
Default Amount (defined herein), if applicable, shall be paid to Holder hereof on demand by the Holder at any time such Default
Amount becomes due and payable to Holder.

		c.	Interest. This
Note shall bear interest (“Interest”) at the rate of Twelve Percent
(12%) per annum from the Issuance Date until the same is paid, or otherwise converted
in accordance with Section 2 below, in full and the Holder, at the Holder’s sole discretion, may include any accrued but
unpaid Interest in the Conversion Amount. Interest shall commence accruing on the Issuance Date, shall be computed on the basis
of a 365-day year and the actual number of days elapsed and shall accrue daily and, after the Maturity Date, compound quarterly.
Upon an Event of Default, as defined in Section 10 below, the Interest Rate shall increase to Eighteen Percent (18%) per annum
for so long as the Event of Default is continuing (“Default Interest”).

		d.	General Payment Provisions. This Note shall
be paid in lawful money of the United States of America by check or wire transfer to such account as the Holder may from time to
time designate by written notice to the Company in accordance with the provisions of this Note. Whenever any amount expressed to
be due by the terms of this Note is due on any day which is not a Business Day (as defined below), the same shall instead be due
on the next succeeding day which is a Business Day and, in the case of any interest payment date which is not the date on which
this Note is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining the
amount of interest due on such date. For purposes of this Note, “Business Day”
shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the State of Texas are authorized or required
by law or executive order to remain closed.

		2.	Conversion of Note. At any time after the Issuance
Date, the Conversion Amount (see Paragraph 2(a)(i)) of this Note shall be convertible into shares of the Company’s common
stock (the “Common Stock”) according to the terms and conditions
set forth in this Paragraph 2.

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		a.	Certain Defined Terms. For purposes of this
Note, the following terms shall have the following meanings:

		i.	“Conversion
Amount” means the sum of (a) the principal amount of this Note to be converted with respect to which this determination
is being made, (b) Interest; and (c) Default Interest, if any, if so included at the Holder’s sole discretion.

		ii.	“Conversion Price”
means a 45% discount to the lowest trading price during the previous twenty (20) trading days to the date of a Conversion Notice.

		iii.	“Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated
organization and a government or any department or agency thereof.

		iv.	“Shares”
means the Shares of the Common Stock of the Company into which any balance on this Note may be converted upon submission of a “Conversion
Notice” to the Company substantially in the form attached hereto as Exhibit 1.

		b.	Holder’s Conversion Rights. At any time
after the Issuance Date, the Holder shall be entitled to convert all of the outstanding and unpaid principal and accrued interest
of this Note into fully paid and non-assessable shares of Common Stock in accordance with the stated Conversion Price. The
Holder shall not be entitled to convert on a Conversion Date that amount of the Note in connection with that number of shares of
Common Stock which would be in excess of the sum of the number of shares of Common Stock issuable upon the conversion of the Note
with respect to which the determination of this provision is being made on a Conversion Date, which would result in beneficial
ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock of the Company on such
Conversion Date.  For the purposes of the provision 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, and Regulation 13d-3 thereunder.  Subject
to the foregoing, the Holder shall not be limited to aggregate conversions of 4.99% (“Conversion Limitation 1”). 
The Holder shall have the authority to determine whether the restriction contained in this Section 2(b) will limit any conversion
hereunder.  The Holder may waive the conversion limitation described in this Section 2(b), in whole or in part, upon
and effective after 61 days prior written notice to the Company to increase or decrease such percentage to any other amount as
determined by Holder in its sole discretion (“Conversion Limitation 2”).

		c.	Fractional Shares. The
Company shall not issue any fraction of a share of Common Stock upon any conversion; if such 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 except in the event that rounding up would violate the conversion limitation set forth in section 2(b) above.

		d.	Conversion Amount. The Conversion Amount shall
be converted pursuant to Rule 144(b)(1)(ii) and Rule 144(d)(1)(ii) as promulgated by the Securities and Exchange Commission under
the Securities Act of 1933, as amended, into unrestricted shares at the Conversion Price.

		e.	Mechanics of Conversion. The conversion of
this Note shall be conducted in the following manner:

		i.	Holder’s Conversion Requirements. To
convert this Note into shares of Common Stock on any date set forth in the Conversion Notice by the Holder (the “Conversion
Date”), the Holder shall transmit by email, facsimile or otherwise deliver, for receipt on or prior
to 11:59 p.m., Eastern Time, on such date or on the next business day, a copy of a fully executed notice of conversion in the form
attached hereto as Exhibit 1 to the Company.

		ii.	Company’s Response. Upon receipt by the
Company of a copy of a Conversion Notice, the Company shall as soon as practicable, but in no event later than one (1) Business
Day after receipt of such Conversion Notice, send, via email, facsimile or overnight courier, a confirmation of receipt of such
Conversion Notice to such Holder indicating that the Company will process such Conversion Notice in accordance with the terms herein.
Within two (2) Business Days after the date the Conversion Notice is delivered, the Company shall have issued and electronically
transferred the shares to the Broker indicated in the Conversion Notice; should the Company be unable to transfer the shares electronically,
it shall, within two (2) Business Days after the date the Conversion Notice was delivered, have surrendered to an overnight courier
for delivery the next day to the address as specified in the Conversion Notice, a certificate, registered in the name of the Holder,
for the number of shares of Common Stock to which the Holder shall be entitled.

		iii.	Record Holder. 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 on the Conversion Date.

		iv.	Timely Response by Company. Upon receipt by
Company of a Conversion Notice, Company shall respond within one business day to Holder confirming the details of the Conversion,
and provide within two business days the Shares requested in the Conversion Notice.

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		v.	Liquidated Damages for Delinquent Response.
If the Company fails to deliver for whatever reason (including any neglect or failure by, e.g., the Company, its counsel
or the transfer agent) to Holder the Shares as requested in a Conversion Notice within three (3) business days of the Conversion
Date, the Company shall be deemed in “Default of Conversion.” Beginning
on the fourth (4th) business day after the date of the Conversion Notice, after the Company is deemed in Default of
Conversion, there shall accrue liquidated damages (the “Conversion Damages”)
of $2,000 per day for each day after the third business day until delivery of the Shares is made, and such penalty will be added
to the Note being converted (under the Company’s and Holder’s expectation and understanding that any penalty amounts
will tack back to the Issuance Date of the Note). The Parties agree that, at the time of drafting of this Note, the Holder’s
damages as to the delinquent response are incapable or difficult to estimate and that the liquidated damages called for is a reasonable
forecast of just compensation.

		vi.	Liquidated Damages for Inability to Issue Shares.
If the Company fails to deliver Shares requested by a Conversion Notice due to an exhaustion of authorized and issuable common
stock such that the Company must increase the number of shares of authorized Common Stock before the Shares requested may be issued
to the Holder, the discount set forth in the Conversion Price will be increased by 5 percentage points (i.e. from 40% to 45%) for
the Conversion Notice in question and all future Conversion Notices until the outstanding principal and interest of the Note is
converted or paid in full. These liquidated damages shall not render the penalties prescribed by Paragraph 2(e)(v) void, and shall
be applied in conjunction with Paragraph 2(e)(v) unless otherwise agreed to in writing by the Holder. The Parties agree that, at
the time of drafting of this Note, the Holder’s damages as to the inability to issue shares are incapable or difficult to
estimate and that the liquidated damages called for is a reasonable forecast of just compensation.

		vii.	Rescindment of Conversion Notice. If: (i) the
Company fails to respond to Holder within one business day from the date of delivery of a Conversion Notice confirming the details
of the Conversion, (ii) the Company fails to provide the Shares requested in the Conversion Notice within three business days from
the date of the delivery of the Conversion Notice, (iii) the Holder is unable to procure a legal opinion required to have the Shares
issued unrestricted and/or deposited to sell for any reason related to the Company's standing with the SEC or FINRA, or any action
or inaction by the Company, (iv) the Holder is unable to deposit the Shares requested in the Conversion Notice for any reason related
to the Company's standing with the SEC or FINRA, or any action or inaction by the Company, (v) if the Holder is informed that the
Company does not have the authorized and issuable Shares available to satisfy the Conversion, or (vi) if OTC Markets changes the
Company's designation to 'Limited Information' (Yield), 'No Information' (Stop Sign), 'Caveat Emptor' (Skull and Crossbones), or
'OTC', 'Other OTC' or 'Grey Market' (Exclamation Mark Sign) on the day of or any day after the date of the Conversion Notice, the
Holder maintains the option and sole discretion to rescind the Conversion Notice ("Rescindment")
by delivering a notice of rescindment to the Company in the same manner that a Conversion Notice is required to be delivered to
the Company pursuant to the terms of this Note.

		viii.	Transfer Agent Fees and Legal Fees. The issuance
of the certificates shall be without charge or expense to the Holder. The Company shall pay any and all Transfer Agent fees, legal
fees, and advisory fees required for execution of this Note and processing of any Notice of Conversion, including but not limited
to the cost of obtaining a legal opinion with regard to the Conversion. The Holder will deduct $2,000 from the principal payment
of the Note solely to cover the cost of obtaining any and all legal opinions required to obtain the Shares requested in any given
Conversion Notice. These fees do not make provision for or suffice to defray any legal fees incurred in collection or enforcement
of the Note as described in Paragraph 13. The Holder will deduct 3rd party due diligence fees due Carter, Terry &
Company, Inc. in the amount of $5,000 from the principal payment of the Note.

		ix.	Conversion Right Unconditional. If the Holder
shall provide a Notice of Conversion as provided herein, the Company’s obligations to deliver Common Stock shall be absolute
and unconditional, irrespective of any claim of setoff, counterclaim, recoupment, or alleged breach by the Holder of any obligation
to the Company.

 

		3.	Other Rights of Holder: Reorganization, Reclassification,
Consolidation, Merger or Sale. Any recapitalization, reorganization, reclassification,
consolidation, merger, sale of all or substantially all of the Company’s assets to another Person or other transaction which
is effected in such a way that holders of Common Stock are entitled to receive (either directly or upon subsequent liquidation)
stock, securities, cash or other assets with respect to or in exchange for Common Stock is referred to herein as “Organic
Change.” Prior to the consummation of any (i) Organic Change or (ii) other Organic
Change following which the Company is not a surviving entity, the Company will secure from the Person purchasing such assets
or the successor resulting from such Organic Change (in each case, the “Acquiring
Entity”) a written agreement (in form and substance reasonably satisfactory
to the Holder) to deliver to Holder in exchange for this Note, a security of the Acquiring Entity evidenced by a written
instrument substantially similar in form and substance to this Note, and reasonably satisfactory to the Holder. Prior to the consummation
of any other Organic Change, the Company shall make appropriate provision (in form and substance reasonably satisfactory to the
Holder) to ensure that the Holder will thereafter have the right to acquire and receive in
lieu of or in addition to (as the case may be) the shares of Common Stock immediately theretofore acquirable and receivable
upon the conversion of the Note, such shares of stock, securities, cash or other assets that would have been issued or payable
in such Organic Change with respect to or in exchange for the number of shares of Common Stock which would have been acquirable
and receivable upon the conversion of the Note as of the date of such

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Organic Change (without taking into account any
limitations or restrictions on the convertibility of the Note set forth in Section 2(b) or otherwise). All provisions of this Note
must be included to the satisfaction of Holder in any new Note created pursuant to this section.

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

		a.	Organization, Good Standing and Qualification.
The Company is a corporation duly organized, validly existing and in good standing under the laws of the state of its incorporation
and has all requisite corporate power and authority to carry on its business as now conducted. The Company is duly qualified to
transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse
effect on its business or properties.

		b.	Authorization. All corporate action has been
taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery
of this Agreement. The Company has taken all corporate action required to make all of the obligations of the Company reflected
in the provisions of this Agreement, valid and enforceable obligations. The shares of capital stock issuable upon conversion of
the Note have been authorized or will be authorized prior to the issuance of such shares.

		c.	Fiduciary Obligations. The Company hereby represents
that it intends to use the proceeds of the Note primarily for the operations of its business and not for any personal, family,
or household purpose. The Company hereby represents that its board of directors, in the exercise of its fiduciary duty, has approved
the execution of this Agreement based upon a reasonable belief that the proceeds of the Note provided for herein is appropriate
for the Company after reasonable inquiry concerning its financial objectives and financial situation.

		d.	Data Request Form. The Company hereby represents
and warrants to Holder that all of the information furnished to Holder pursuant to the data request form (“DRF”)
dated November 15, 2016 is true and correct in all material respects as of the date hereof.

		5.	Covenants of the Company.

		a.	So long as the Company shall have any obligations under this Note, the Company shall not without
the Holder’s prior written consent pay, declare or set apart for such payment any dividend or other distribution (whether
in cash, property, or other securities) on shares of capital stock solely in the form of additional shares of Common Stock

		b.	So long as the Company shall have any obligations under this Note, the Company shall not without
the Holder’s prior written consent redeem, repurchase, or otherwise acquire (whether for cash or in exchange for property
or other securities) in any one transaction or series of transactions any shares of capital stock of the Company or any warrants,
rights, or options to acquire any such shares.

		c.	So long as the Company shall have any obligations under this Note, the Company shall not without
the Holder’s prior written consent incur any liability for borrowed money, except (a) borrowings in existence as of this
date and of which the Company has informed the Holder in writing before the date hereof or (b) indebtedness to trade creditors
or financial institutions incurred in the ordinary course of business.

		d.	So long as the Company shall have any obligations under this Note, the Company shall not without
the Holder’s prior written consent sell, lease, or otherwise dispose of a significant portion of its assets outside the ordinary
course of business. Any consent to the disposition of any assets may be conditioned upon a specified use of the proceeds thereof.

		6.	Issuance of Common Stock Equivalents. If the
Company, at any time after the Issuance Date, shall issue any securities convertible into or exchangeable for, directly or indirectly,
Common Stock (“Convertible Securities”), other than the Note, or
any rights or warrants or options to purchase any such Common Stock or Convertible Securities, shall be issued or sold (collectively,
the “Common Stock Equivalents”) and the aggregate of the price
per share for which additional Shares of Common Stock may be issuable thereafter pursuant to such Common Stock Equivalent, plus
the consideration received by the Company for issuance of such Common Stock Equivalent divided by the number of shares of Common
Stock issuable pursuant to such Common Stock Equivalent (the “Aggregate Per
Common Share Price”) shall be less than the applicable Conversion Price then in effect, or if, after any such issuance
of Common Stock Equivalents, the price per share for which additional Shares of Common Stock may be issuable thereafter is amended
or adjusted, and such price as so amended shall make the Aggregate Per Share Common Price be less than the applicable Conversion
Price in effect at the time of such amendment or adjustment, then the applicable Conversion Price upon each such issuance or amendment
shall be reduced to the lower of: (i) the Conversion Price; or (ii) a twenty-five percent (25%) discount to the lowest Aggregate
Per Common Share Price (whether or not such Common Stock Equivalents are actually then exercisable, convertible or exchangeable
in whole or in part) as of the earlier of (A) the date on which the Company shall enter into a firm contract for the issuance of
such Common Stock Equivalent, or (B) the date of actual issuance of such Common Stock Equivalent. No adjustment of the applicable
Conversion Price shall be made under this Section 6 upon the issuance of any Convertible Security which is outstanding on the day
immediately preceding the Issuance Date.

		7.	Reservation of Shares. The Company shall at
all times, so long as any principal amount of the Note is outstanding, reserve and keep available out of its authorized and unissued
shares of Common Stock, solely for the purpose of effecting the conversion of the Note, eight times the

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number of shares of Common Stock as shall at all
times be sufficient to effect the conversion of all of the principal amount, plus Interest and Default Interest, if any, of the
Note then outstanding (“Share Reserve”), unless the Holder stipulates
otherwise in the “Irrevocable Letter of Instructions to the Transfer Agent.”
So long as this Note is outstanding, upon written request of the Holder or via telephonic communication, the Company’s Transfer
Agent shall furnish to the Holder the then-current number of common shares issued and outstanding, the then-current number of common
shares authorized, the then-current number of unrestricted shares, and the then-current number of shares reserved for third parties.

		8.	Voting Rights. The Holder of this Note shall
have no voting rights as a note holder, except as required by law, however, upon the conversion of any portion of this Note into
Common Stock, Holder shall have the same voting rights as all other Common Stock holders with respect to such shares of Common
Stock then owned by Holder.

		9.	Reissuance of Note. In the event of a conversion
or redemption pursuant to this Note of less than all of the Conversion Amount represented
by this Note, the Company shall promptly cause to be issued and delivered to the Holder, upon tender by the Holder of the
Note converted or redeemed, a new note of like tenor representing the remaining principal
amount of this Note which has not been so converted or redeemed and which is in substantially the same form as this Note,
as set forth above.

		10.	Default and Remedies.

		a.	Event of Default. For purposes of this Note,
an “Event of Default”
shall occur upon: 

		i.	the Company’s default in the payment of the outstanding principal, Interest or Default Interest
of this Note when due, whether at Maturity, acceleration or otherwise;

		ii.	the occurrence of a Default of Conversion as set forth in Section 2(e)(v);

		iii.	the failure by the Company for ten (10) days after notice to it to comply with any material provision
of this Note not included in this Section 10(a);

		iv.	the Company’s breach of any covenants, warranties, or representations made by the Company
herein;

		v.	any of the information in the DRF is false or misleading in any material respect;

		vi.	the default by the Company in any Other Agreement entered into by and between the Company and Holder,
for purposes hereof “Other Agreement” shall mean, collectively, all agreements and instruments between, among or by:
(1) the Company, and, or for the benefit of, (2) the Holder and any affiliate of the Holder, including without limitation, promissory
notes;

		vii.	the cessation of operations of the Company or a material subsidiary;

		viii.	the Company pursuant to or within the meaning of any Bankruptcy Law; (a) commences a voluntary
case; (b) consents to the entry of an order for relief against it in an involuntary case; (c) consents to the appointment of a
Custodian of it or for all or substantially all of its property; (d) makes a general assignment for the benefit of its creditors;
or (e) admits in writing that it is generally unable to pay its debts as the same become
due;

		ix.	court of competent jurisdiction entering an order
or decree under any Bankruptcy Law that: (a) is for relief against the Company in an involuntary case; (b) appoints a Custodian
of the Company or for all or substantially all of its property; or (c) orders the liquidation of the Company or any subsidiary,
and the order or decree remains unstayed and in effect for thirty (30) days;

		x.	the Company files a Form 15 with the SEC; 

		xi.	the Company’s failure to timely file all reports required
to be filed by it with the Securities and Exchange Commission; 

		xii.	the Company’s failure to timely file all reports required
to be filed by it with OTC Markets to remain a “Current Information” designated company;

		xiii.	the Company sells securities after the Issuance Date that
do not have a fixed conversion price;

		xiv.	the Company’s Common Stock is reported as “No
Inside” by OTC Markets at any time while any principal, Interest or Default Interest under the Note remains outstanding;

		xv.	the Company’s failure to maintain the required Share
Reserve pursuant to the terms of the Irrevocable Letter of Instructions to the Transfer Agent;

		xvi.	the Company directs its transfer agent not to transfer, or delays, impairs, 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 and stop transfer instructions) 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 its obligations pursuant to a Conversion Notice submitted by the Holder) and any such failure
shall continue uncured for three (3) Business Days after the Conversion Notice has been delivered to the Company by Holder;

		xvii.	the Company’s failure to remain current in its billing obligations with its transfer agent
and such delinquency causes the transfer agent to refuse to issue Shares to Holder pursuant to a Conversion Notice;

		xviii.	the Company effectuates a reverse split of its Common Stock and fails to provide twenty (20) days
prior written notice to Holder of its intention to do so; or 

		xix.	OTC Markets changes the Company's designation to 'No Information' (Stop Sign), 'Caveat Emptor'
(Skull and Crossbones), or 'OTC', 'Other OTC' or 'Grey Market' (Exclamation Mark Sign).

		xx.	"Change of Control Transaction" means the occurrence
after the date hereof of any of (a) an acquisition after the date hereof by an individual or legal entity or "group"
(as described in Rule 13d-5(b)(1) promulgated under the Securities

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Exchange Act of 1934) of effective control (whether
through legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of 40% of the voting
securities of the Company, (b) the Company merges into or consolidates with any other Person, as that term is defined in the Securities
Act of 1933, as amended, or any Person merges into or consolidates with the Company and, after giving effect to such transaction,
the stockholders of the Company immediately prior to such transaction own less than 60% of the aggregate voting power of the Company
or the successor entity of such transaction, (c) the Company sells or transfers all or substantially all of its assets to another
Person and the stockholders of the Company immediately prior to such transaction own less than 60% of the aggregate voting power
of the acquiring entity immediately after the transaction, (d) a replacement at one time or within a three year period of more
than one-half of the members of the Board of Directors which is not approved by a majority of those individuals who are members
of the Board of Directors on the Issuance Date (or by those individuals who are serving as members of the Board of Directors on
any date whose nomination to the Board of Directors was approved by a majority of the members of the Board of Directors who are
members on the date hereof), or (e) the execution by the Company of an agreement to which the Company  is a party or by which
it is bound.

		xxi.	Altering the conversion terms of any notes that are currently outstanding.

 

The Term
“Bankruptcy Law” means
Title 11, U.S. Code, or any similar Federal or State Law for the relief of debtors. The term “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

		b.	Remedies. If an Event of Default occurs, the
Holder may in its sole discretion determine to request immediate repayment of all or any portion of the Note that remains outstanding;
at such time the Company will be required to pay the Holder the Default Amount (defined herein) in cash. For purposes hereof, the
“Default Amount” shall mean: the product of (A) the then outstanding
principal amount of the Note, plus accrued Interest and Default Interest, divided by (B) the Conversion Price as determined on
the Issuance Date, multiplied by (C) the highest price at which the Common Stock traded at any time between the Issuance Date and
the date of the Event of Default. If the Company fails to pay the Default Amount within five (5) Business Days of written notice
that such amount is due and payable, then Holder shall have the right at any time, so long as the Company remains in default (and
so long and to the extent there are a sufficient number of authorized but unissued shares), to require the Company, upon written
notice, to immediately issue, in lieu of the Default Amount, the number of shares of Common Stock of the Company equal to the Default
Amount divided by the Conversion Price then in effect.

 

		11.	Vote to Change the Terms of this Note. This
Note and any provision hereof may only be amended by an instrument in writing signed by the Company and the Holder.

		12.	Lost or Stolen Note. Upon
receipt by the Company of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of this Note,
and, in the case of loss, theft or destruction, of an indemnification undertaking by the Holder
to the Company in a form reasonably acceptable to the Company and, in the case of
mutilation, upon surrender and cancellation of the Note, the Company shall execute and deliver
a new Note of like tenor and date and in substantially the same form as this Note; provided, however, the
Company shall not be obligated to re-issue a Note if the Holder contemporaneously requests the Company to convert such remaining
principal amount, plus accrued Interest and Default Interest, if any, into Common Stock.

		13.	Payment of Collection, Enforcement and Other Costs.
If: (i) this Note is placed in the hands of an attorney for collection or enforcement
or is collected or enforced through any legal proceeding; or (ii) an attorney is retained to represent the Holder of this Note
in any bankruptcy, reorganization, receivership or other proceedings affecting creditors’
rights and involving a claim under this Note, then the Company shall pay to the Holder all reasonable attorneys’ fees,
costs and expenses incurred in connection therewith, in addition to all other amounts due hereunder.

		14.	Cancellation. After
all principal, accrued Interest and Default Interest, if any, at any time owed on this Note has been paid in full or otherwise
converted in full, this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation and shall
not be reissued.

		15.	Waiver of Notice. To the extent permitted by
law, the Company hereby waives demand, notice, protest and all other demands and notices
in connection with the delivery, acceptance, performance, default or enforcement of this Note.

		16.	Governing Law. This Note shall be construed
and enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Note shall be governed by, the laws of the State of Texas, without giving effect
to provisions thereof regarding conflict of laws. Each party hereby irrevocably submits to
the non-exclusive jurisdiction of the state and federal courts sitting in Texas for
the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to
assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that
such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
action or proceeding by sending, through certified mail or overnight courier, a copy thereof
to such party at the address for such 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

    -6-

    

    

shall be
deemed to limit in any way any right to serve process in any manner permitted by law.
EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT
MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING
OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

		17.	Remedies, Characterizations, Other Obligations, Breaches
and Injunctive Relief. The remedies provided in this Note shall be cumulative and in addition to all other remedies available
under this Note, at law or in equity (including a decree of specific performance and/or other
injunctive relief), and no remedy contained herein shall be deemed a waiver of compliance with the provisions giving rise
to such remedy and nothing herein shall limit the Holder’s right to pursue actual damages for any failure by the Company
to comply with the terms of this Note. The Company covenants to the Holder that there shall be no characterization concerning this
instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, conversion
and the like (and the computation thereof) shall be the amounts to be received by the Holder thereof and shall not, except as expressly
provided herein, be subject to any other obligation of the Company (or the performance thereof).

		18.	Specific Shall Not Limit General; Construction.
No specific provision contained in this Note shall limit or modify any more general
provision contained herein. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed
against any person as the drafter hereof.

		19.	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 further exercise thereof or of any other right, power or privilege.

		20.	Partial Payment. In the event of partial payment
by the Holder, the principal sum due to the Holder shall be prorated based on the consideration actually paid by the Holder 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, with the exception of any OID contemplated herein. 

		21.	Entire Agreement. This Agreement constitutes
the full and entire understanding and agreement between the parties with regard to the subjects herein. None of the terms of this
Agreement can be waived or modified, except by an express agreement signed by all Parties hereto.

		22.	Additional Representations and Warranties.
The Company expressly acknowledges that the Holder, including but not limited to its officer, directors, employees, agents, and
affiliates, have not made any representation or warranty to it outside the terms of this Agreement. The Company further acknowledges
that there have been no representations or warranties about future financing or subsequent transactions between the parties.

		23.	Notices. All notices and other communications
given or made to the Company pursuant hereto shall be in writing (including facsimile or similar electronic transmissions) and
shall be deemed effectively given:  (i) upon personal delivery, (ii) when sent by electronic mail or facsimile, as deemed
received by the close of business on the date sent, (iii) five (5) days after having been sent by registered or certified mail,
return receipt requested, postage prepaid or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying
next day delivery.  All communications shall be sent either by email, or fax, or to the email address or facsimile number
set forth on the signature page hereto. The physical address, email address, and phone number provided on the signature page hereto
shall be considered valid pursuant to the above stipulations; should the Company’s contact information change from that listed
on the signature page, it is incumbent on the Company to inform the Holder.

		24.	Severability. If one or more provisions of
this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the
rest of the Agreement shall be enforceable in accordance with its terms.

		25.	Usury. If it shall be found that any interest
or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate of interest due
hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable law. The Company covenants
(to the extent that it may lawfully do so) that it will not seek to claim or take advantage of any law that would prohibit or forgive
the Company from paying all or a portion of the principal, Interest or Default Interest on this Note.

		26.	Successors and Assigns. This Agreement shall
be binding upon all successors and assigns hereto.

 

— SIGNATURE PAGE TO
FOLLOW —

    -7-

    

    

IN WITNESS
WHEREOF, the Company has caused this Note to be signed by its CEO, on and as of the Issuance Date. 

 

COMPANY

 

Signature:

 

 

/s/ William Bossung

By:___________________________________________________

 

 

 

CFO DIRECTOR

Title:___________________________________________________

 

 

 

Address: ___________________________________________________

 

 

___________________________________________________

 

 

___________________________________________________

 

 

 

		Email:	___________________________________________________

 

 

 

		Phone:	___________________________________________________

 

 

 

		Facsimile:	___________________________________________________

 

 

JSJ Investments Inc.

 

 

Signature:

 

 

 

 

 

 

Sameer Hirji, President

JSJ Investments Inc.

10830 North Central Expressway, Suite 152

Dallas TX 75231

888-503-2599

    -8-

    

    

 

Exhibit 1

Conversion Notice

Reference is made to the 12%
Convertible Note issued by Grey Cloak Tech Inc. (the "Note"), dated November 17, 2016 in the principal amount of $55,000
with 12% interest. This note currently holds a principal balance of $55,000. The features
of conversion stipulate a Conversion Price equal to a 45% discount to the lowest trading price during the previous twenty (20)
trading days to the date of a Conversion Notice, pursuant to the provisions of Section 2(a)(ii) in the Note.

In accordance with and pursuant to the Note, the
undersigned hereby elects to convert $______ of the principal/interest balance of the Note, indicated below into shares
of Common Stock (the "Common Stock"), of the Company, by tendering the Note specified as of the date specified below.

Date of Conversion: __________

Please confirm the following information:

Conversion Amount: $ ____________________

Conversion Price: $ ____________________ ( ____ %
discount from $ ____________________)

Number of Common Stock to be issued: _____________________________________________________________________

Current Issued/Outstanding: _______________________________________________________________________________

If the Issuer is DWAC eligible, please issue the
Common Stock into which the Note is being converted in the name of the Holder of the Note and transfer the shares electronically
to:

[BROKER INFORMATION]

Holder Authorization:

JSJ Investments Inc.

10830 North Central Expressway, Suite 152*Do not send certificates to this address

Dallas, TX 75231

888-503-2599

Tax ID: 20-2122354

 

Sameer Hirji, President

 

[DATE]

[CONTINUED ON NEXT PAGE]

 

    -9-

    

    

 

PLEASE BE ADVISED,
pursuant to Section 2(e)(ii) of the Note, “Upon receipt by the Company of a copy of the Conversion Notice, the Company shall
as soon as practicable, but in no event later than one (1) Business Day after receipt of such Conversion Notice, SEND,
VIA EMAIL, FACSIMILE OR OVERNIGHT COURIER, A CONFIRMATION OF RECEIPT OF SUCH CONVERSION NOTICE TO SUCH HOLDER INDICATING THAT THE
COMPANY WILL PROCESS SUCH CONVERSION NOTICE in accordance with the terms herein. Within two (2) Business Days after the
date of the Conversion Confirmation, the Company shall have issued and electronically transferred the shares to the Broker indicated
in the Conversion Notice; should the Company be unable to transfer the shares electronically, they shall, within two (2) Business
Days after the date of the Conversion Confirmation, have surrendered to FedEx for delivery the next day to the address as specified
in the Conversion Notice, a certificate, registered in the name of the Holder, for the number of shares of Common Stock to which
the Holder shall be entitled.”

 

Signature:

 

 

/s/ William Bossung

___________________________

William Bossung

CFO

Grey Cloak Tech Inc.

 

 

 

 

 

 

 

    -10-DEBT
PURCHASE AND ASSIGNMENT AGREEMENT

THIS DEBT PURCHASE
AND ASSIGNMENT AGREEMENT (this "Agreement"
), is

entered
into on December 7, 2016,
by and between Village Partners LLC (the "Assignor")
and Coronado Ventures Number One, LLC (the "Assignee")
(the Assignor and Assignee are collectively referred to as the "Parties"
herein).

 

WHEREAS,
Assignor is the legal and
beneficial owner of aggregate indebtedness of Grey Cloak Tech, Inc.,
Inc., a Nevada corporation
(the "Company")
in a principal amount of $20,000.00,
consisting of a Promissory
Note dated June 9,
2016, which has
accrued interest in an amount of 18% per annum,
(the "Debt").

 

WHEREAS,
Assignor desires to
assign all of the principal to Assignee and Assignee desires
to accept from Assignor such principal of the Debt, on
the basis of the representations,
warranties and agreements contained in this Agreement.

 

WHEREAS,
as consideration for the assignment of the Debt by
Assignor, the Assignee
has agreed to pay Assignor
the sum of Twenty Thousand Dollars ($20,000)
(the " Purchase Price").

 

NOW,
THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the adequacy
of which is hereby acknowledged, the
parties hereto agree as follows:

 

		1.	ASSIGNMENT.

 

		1.1	Transfer of Debt: On
the Closing Date (as set forth below),
for the payment of
the Purchase Price, the Assignor
hereby sells, assigns,
and transfers to the Assignee all of the rights and interests
to the $20,000 principal
balance of the Debt (the
"Assigned Debt"),
consisting of $20,000.00
of principal and none
of the accrued and unpaid interest,
owned by the Assignor and all of the rights and benefits thereunder and the Assignee accepts
such assignment. The Purchase Price shall be paid to Assignor
on or before the Closing Date.
If the Assignor has not received the
entire Purchase Price on or before
the Closing Date, then
the Assignor shall have the right in its sole discretion
to deem this Agreement
null and void and of
no further force or effect. By
its signature hereto,
the Company agrees to and approves this assignment
and agrees to the changes to the changes to the Promissory
Note set forth in paragraph 4
below.

		1.2	Closing Procedures. The
closing of the assignment contemplated hereunder shall
take place on or before
December 9, 2016 (the "
Closing Date").
On or before the Closing
Date, the Assignee
shall pay the Purchase
Price of $20 ,000 to
Assignor and the Company will have
paid the $900 in accrued interest on the Note to
the Assignor.

 

		2.	ADDITIONAL DOCUMENTS. The
Assignor agrees to take such further action and to execute
and de live r, or
cause to be executed
and delivered, any
and all other documents
which are, in
the opinion of the Assignee
or its counsel,
necessary to carry out
the terms and conditions of the assignment
effected by the Agreement.

 

		3.	EFFECTIVE DATE AND COUNTERPART SIGNATURE.
This Agreement shall be effective
as of the
date first written above.
This Agreement, and
acceptance of same, may
be executed in one
or more counterparts,
each of which shall be
deemed an origin al,
but all of which together
shall constitute one and the
same instrument. Confirmation
of execution by
email of a scanned signature page
shall be binding upon
that party so confirming.

 

		4.	CONSENT AND AGREEMENT OF THE COMPANY.
The Company, as
evidenced by its signature
below, represents
and warrants that, upon
delivery to the Company of the Note,
the Company shall promptly
cause to be issued to
the Assignee a new Note
in the amount of $20,000
which shall be similar
to the current Note except that the
maturity date will be
extended until June 9,
2017 and it will be convertible at any time at $.04 per
share. It will
also refer to the original
issue date of the Note
which was June 9,
2016. In addition, the
Company agrees that it has paid to
the Assignor the accrued
interest through December
9, 2016
in the amount of $900.
The Company also represents that the Note is currently outstanding in the
entire amount stated and it represents a
bona fide debt
obligation of the Company.

 

    -1-

    

    

 

		5.	MUTUAL REPRESENTATIONS AND WARRANTIES.

 

		5.1	Organization; Authority. Each of the Parties
are entities duly organized,
validly existing and in good
standing under the laws
of the jurisdiction of its organization
with full right, corporate,
partnership or other applicable power
and authority to enter into and to
consummate the transactions contemplated by this Agreement
and otherwise to carry out its obligations there under, and
the execution , delivery and
performance by the Assignor of the transactions contemplated
by this Agreement have been duly authorized by
all necessary corporate
or similar action on the part of the Assignee.

 

		5.2	Binding Agreement: This
Agreement, when executed
and delivered by the
Parties , will constitute
a valid and legally binding obligation,
enforceable in accordance with its terms,
except (a) as limited
by applicable bankruptcy,
insolvency, reorganization,
moratorium, fraudulent
conveyance, and any other
laws of general application
affecting enforcement of creditors' rights
generally, (b) as limited
by laws relating to
the availability of specific performance,
injunctive relief ,
or other equitable remedies,
or (c) to the extent the indemnification
provisions contained herein
may be limited by federal or state securities laws.

 

		5.3	No Conflicts. Neither
the execution and delivery of
this Agreement, nor the
consummation of the transactions contemplated hereby ,
do or will violate any
constitution, statute,
regulation, rule
,injunction,
judgment, order,
decree , ruling,
charge or other restriction of any government , governmental
agency , or court to
which the Parties are subject or any provision of
its organizational documents or other similar governing instruments ,
or conflict with, violate
or constitute a default under any
agreement, credit facility,
debt or other instrument
or understanding.

 

		5.4	Consents. No
authorization, consent,
approval or other order of,
or declaration to
or filing with, any governmental
agency or body or other
Person is required on
the part of Assignee
for the valid authorization, execution,
delivery and performance
by the Assignee of this Agreement and the consummation of the transactions
contemplated hereby

 

		6.	REPRESENTATIONS AND WARRANTIES – ASSIGNEE

 

		6.2	Investment Experience; Access to Information and Preexisting Relationship.
The Assignee (a) either alone or together with its representatives, has
such knowledge and experience in financial and business matters as
to be capable of evaluating
the merits and risks of
this investment and make
an informed decision
to so in vest,
and has so
evaluated the risks and merits
of such investment in
the Assigned Debt, (b)
has the ability to bear
the economic risks of this investment
and can afford a complete loss
of such investment, (c)
understands the terms
of and risks associated
with the acquisition of the Notes, including,
without limitation, a
lack of liquidity,
price transparency or
pricing availability
and risks associated with
the industry in which
the Company operates,
(d) has had
the opportunity to review such
disclosure regarding the Company,
its business,
its financial condition and its prospects
as the Assignee has determined
to be necessary in connection
with the Assignment of the Assigned Debt,
and (e) is an accredited investor as that term is defined
in Rule 501
of Regulation D.

 

		6.3	Restrictions on Transfer. The
Assignee understands that
the Assigned Debt has
not been registered under the
Securities Act of 1933, as amended ("Securities
Act") or the securities
laws of any state.

 

 

 

    -2-

    

    

		6.4	Absence of General Solicitation.
The Assignee is not
accepting such Assignment
as a result of any advertisement, article,
notice or other communication regarding the Note published in any newspaper,
magazine or similar media or broadcast over television or radio or presented
at any seminar or any other
general solicitation
or general advertisement.

 

		7.	REPRESENTATIONS AND WARRANTIES OF THE ASSIGNOR

 

		7.2	Ownership. Assignor
has good and marketable
title to the Debt and is conveying to Assignee
all rights, title and interest to the Debt. Said Debt, is
free and clear of all
liens, mortgages, pledges, security
interests, encumbrances or charges of any kind or description.

 

		7.3	Principal Amount of indebtedness, The
amount of debt to be purchased by Assignee is
a valid debt reported
in the financial statements of
the issuer, and none
of the debt to be purchased
has been assigned or promised to any third party. Additionally,
the Debt has been fully funded and Assignor has provided
proof of funding of the Debt to Assignee.

 

		7.4	No Litigation, There
is no action, suit, proceeding,
judgment, claim or investigation pending, or
to the knowledge of the Assignor, threatened
against the Assignor, which
could reasonably be expected in any manner to challenge or seek
to prevent, enjoin,
alter or delay the transactions contemplated hereby.

 

		7.5	Not an Affiliate. Assignor
is not now,
and has not been during the immediately preceding 90 days,
an officer, direct or,
10% or more shareholder
of Company or in any other way an "affiliate
" of Company
(as that term is defined in Rule 144(a)(l) adopted pursuant to the Securities
Act of 1933, as amended).

 

		7.6	Default of Representations and Warranties. It
is understood and acknowledged by Assignor that any violation of this Section 6 specifically
will result in an automatic and immediate default of this Agreement.

 

		8.	GENERAL PROVISIONS

 

		8.2	Termination, Should
the Assignee fail to pay the Purchase Price to the Assignor on or before the Closing
Date, then this Agreement shall
be automatically null and void
and of no force or effect at the option of the Assignor, and all right,
title and interest in and to the Debt shall
remain fully vested in the Assignor.

 

		8.3	Expenses, Each
Party shall bear its own costs and expenses incurred in connection with its
negotiations, execution and delivery of this Agreement, including,
without limitation,
the fees and disbursement of its legal counsel.

 

		8.4	Amendments. No
provision hereof may be waived or
modified other than by an instrument in writing signed
by the party against whom enforcement is sought.

 

		8.5	Severability. If
any provision of this Agreement shall be
invalid or unenforceable in any jurisdiction, such
invalidity or unenforceability shall
not affect the validity
or enforceability of the remainder of this Agreement in that jurisdiction
or the validity
or enforceability of any provision of this Agreement in any other jurisdiction.

 

		8.6	Goyerning Law; Submissions to Jurisdiction.
This Agreement shall
be governed by
and Construed in accordance
with the Laws of the
State of Colorado without
regard to conflict of Law
principles. Each Party
agrees that any action or proceeding
arising out of or
relating in any way to
this Agreement shall be brought in a U.S. Federal
or State Court of
competent jurisdiction sitting in
the State of Colorado.
Each Party hereby irrevocably
and unconditionally waives any
defense of Forum Non Convenes or lack of person jurisdiction to the maintenance
of any action or proceeding and any right of jurisdiction or venue due to the place of residence or domicile of any Party hereto.

 

 

 

    -3-

    

    

 

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

 

ASSIGNOR:

Village Partners LLC

 

By: /s/ George Lee

George Lee, Member

 

ASSIGNEE:

 

Coronado Ventures Number One, LLC

 

By: /s/ Timothy J. Brasel

Timothy J. Brasel, Member

 

ACCEPTED AND AGREED:

 

GREY CLOAK TECH INC.

By: /s/ William Bossung

William Bossung, CFO

 

 

 

 

    -4-

    

 

    -5-

    

 

 

    -6-

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