Document:

RxMM
Health Limited and Players Network Inc.

Definitive
funding agreement

 

This
agreement between RxMM Health Limited referred to in this agreement as the “Investor” or “RxMM” with its
corporate offices located at 45 Ventnor Avenue West Perth 6005 Australia, and Players Network Inc. referred to in this agreement
as the “Company” with it corporate offices located at 1771 East Flamingo Road, Suite 201a, Las Vegas, Nevada 89119
sets forth certain understandings and certain binding terms that were contained in the executed LOI dated April 21, 2016, and
are being formalized in this Definitive Agreement relative to the transactions that were contemplated therein.

  

The
following numbered paragraphs of this Letter (collectively, the “Binding Provisions”) reflect our mutual understanding
of the matters contained in them. Each Party acknowledges that these provisions may become Nonbinding Provisions under the terms
of this agreement if the referenced Debenture and Warrant agreements are not completed, and as of now they are not intended to
create or constitute any legally binding obligation until such time. Neither Party shall have any liability to any Party with
respect to the matters discussed in this Definitive Agreement and other related documents (the “Definitive Agreements”)
including the fully executed Convertible Debenture as well as a Warrant Agreement prepared, authorized, executed and delivered
by all Parties.

 

	1.	Basic
    Transaction. The transaction will involve a total investment of $2,500,000 to be invested into Players Network in
    the form of a Convertible Note Debenture. and in consideration of such investment RxMM will receive warrants as an Establishment
    Fee (Collectively, the “Transaction”) and that any portion when exercised will off-set and be credited
    as payment on the balance of the Note to the extent of the amount exercised, thus reducing the principal owed on the note
    pro-rata, and also a payable percentage of revenue of PNTV reduced with the same pro-rata until the Note is either paid back
    or converted to equity.

 

	 	a.	Upon
    closing the Transaction of the full investment based on the Investment Schedule (Exhibit A) until such time the Debenture
    is converted or paid off, RxMM will be entitled 20% of all Adjusted Gross revenue and 20% of the Gross Income generated by
    the Company through any of its medical marijuana holdings or its Media Platform or others sources as determined by PNTV. Revenues
    include but are not limited from; Green Leaf Farms Holdings (GLFH), Weed TV or any other platform licensee. Excluded from
    such Revenues are the potential settlement from PNTV’s Comcast lawsuit and any professional and/or management services.
    The Adjusted Gross Revenue is defined as all revenues after deduction of the direct cost associated with the good and services
    and commissions, but before taxes. If the note is partially paid off, the percentage of revenue shares will be pro-rated and
    reduced to represent the percentage of revenue sharing based on the balance of the note.
	 	 	 
	 	b.	Payments
    to PNTV representing tranches of funding as received by PNTV according to The Convertible Debenture will mature in 24 months
    after the full investment is realized as outlined in the Investment Schedule (Exhibit A).
	 	 	 
	 	c.	The
    Company will grant RxMM 50,000,000 warrants as an Establishment Fee as per the Warrant Schedule in (Attachment C) upon signing
    of the Definitive Agreement and such warrants will vest according to the Warrant Schedule.
	 	 	 
	 	d.	The
    Adjusted Gross Revenue is defined as all revenues after deduction of the direct cost associated with the goods and services
    and commissions, management excluding taxes and overhead of the corporation form revenue directly generated by the Company,
    but not the Company’s subsidiaries which is based on Gross Income. 
	 	 	 
	 	e.	The
    Gross Income is defined as 100% of all the money distributed to Company by any of it subsidiaries. For Example; if the company
    is distributed $1,000,000 in Gross Income through any of its subsidiaries to the Company, the investor will receive $200,000
    of that Income.

 

    	 	 	 

    	 	 	 

    

 

	2.	Other
    Conditions 

 

	 	a.	The
    Company will utilize its available resources to provide marketing services to RxMM that may include up to 10 Dispensaries,
    Cultivation, Products and Technology for a period of 3 years from the closing of this Definitive Agreement at a cost
    based on the pass through of actual cost to PNTV.
	 	 	 
	 	b.	This
    includes setting up digital channels for the RxMM’s various holdings on the WeedTV.com platform, with all professional
    services rendered as a pass through at their actual cost. These services include, but are not limited; to production, marketing
    and distribution services of content as outlined in the LOI at a 50% discount.
	 	 	 
	 	c.	All
    press releases will be mutually agreed prior to release, however no information in a release will be unreasonably withheld
    and will comply with Forward Looking Statement disclosures.

 

	3.	Due
    Diligence Period. RxMM has requested and received all documents related to this transaction and is fully satisfied
    with due diligence review of the business, financial statements, assets and prospects of the Company and the Entities from
    the date of the Letter of intent until the finalization of the Transaction Definitive Agreement (the “Due Diligence
    Period”).

 

	4.	Minority
    Protection Rights.

 

	 	a.	RxMM
    will have the right to appoint a qualified representative; in this capacity, he or she will serve as a Board Member of PNTV
    for a period that lasts through the debenture agreement.
	 	 	 
	 	b.	RxMM
    will have the right to recommend a Cultivation Manager to be appointed providing that the recommended person has the necessary
    qualifications, GLFH agrees to employ such person.

 

	5.	Contingencies

.

	 	In
    addition to the execution and delivery of the Definitive Agreements, Debenture Agreement, and the Warrant Agreement, the following
    are RxMM’s key conditions to finalizing the Transaction:

 

	 	a.	Receipt
    of all material third-Party consents;
	 	 	 
	 	b.	Completion
    of a customary due diligence review of the business, financial statements, assets and prospects of the entities and the PNTV
    during the Due Diligence Period;
	 	 	 
	 	c.	The
    absence of any material adverse change in the financial condition, sales, assets or operations of the business of the Company
    from the date of this Letter through the date of closing;
	 	 	 
	 	d.	That
    the Company will own or have rights to the assets required for the conduct of the business of the Company as are currently
    operating and are expected to be conducted in the future; and
	 	 	 
	 	e.	Approval
    of the transaction by its Board of Directors

 

The
following are PNTV’s key conditions to closing the Transaction:

 

	 	a.	Receipt
    of the approval of the Company’s Board of Directors to the Transaction; and
	 	 	 
	 	b.	The
    execution and delivery of the Definitive Agreements, Debenture Agreement, and the Warrant Agreement. 

 

	6.	First
    Right of Refusal Agreements. The Parties, as well as such other personnel that may be identified as other projects,
    have or will execute and deliver appropriate mutual non-competition (NDA) agreements and first right of refusal agreements
    on further financing opportunities in favor of PNTV that work for both Parties on or before the closing.

 

    	 	2	 

    	 	 	 

    

 

	7.	Default.
    If either Party defaults in its obligations set forth herein, then the other Party upon serving First Notice to the
    defaulting Party demanding that such default be cured within 30 days, and such default then remains uncured, then the Party
    serving the First Notice shall have the right to terminate this agreement upon a Second Notice being served on the Defaulting
    Party.
	 	 
	 	7.a.
    If the Company defaults the price of the warrants will decrease by 1 cent (.01) per warrant on all warrant schedules for every
    30 days that the company remains in default. It is agreed that there is no default by the company if RxMM fails to provide
    full funding. Defaults include; if the Company does not launch its channel and agree to provide marketing services within
    60 days of the period of time requested by RXMM but not before the completion of the IPO. RXMM’s marketing team and
    management will be required to assist in the forming of such channel by supplying content and insight that reflects its Brand,
    and;
	 	 
	 	7.b.
    Fails to allow RxMM to use its Weed TV database to assist in marketing the RxMM brands and affiliates from said period of
    time. 
	 	 
	 	7.c.
    In regard to timely distribution of its 20% revenue sharing, RxMM will receive disbursements within 30 days from the close
    of each quarterly audit until the date the Debenture is paid off. If the disbursement is not paid with in 30 days, it shall
    constitute a default. If there are no revenues to disburse, there is no default
	 	 
	 	7.g.
    Fails to comply with SEC and FINRA reporting requirements or fails to deliver notices to participate in any Nevada MME opportunity
    that the company creates. 
	 	 
	8.	Potential
    Joint Ventures. The Parties agree to enter into a joint venture or other commercially structured arrangements with
    the intention to acquire or apply for medical marijuana dispensary licenses and operate such businesses subject to mutually
    agreed terms and conditions. It has been agreed that the branding of the dispensary businesses will be under RxMM’s
    lifestyle retail formula and national brand. Such joint ventures may include third parties but will be approached in goodwill
    and fair dealings manner for the betterment of the Company’s shareholders.
	 	
	9.	Both
    parties agree to remain compliant with the SEC rules and regulations 
	 	 
	10.	RxMM
    shall have the right to request independent accounting, right to audit, using GAPP procedures; audit to be paid for by party
    requesting the audit. 
	 	 
	11.	Both
    parties will work with best efforts to assist the other party in building their business. Whenever there is need for goods,
    services, distribution, marketing, product extensions or business development that the other party is capable of providing,
    the party seeking assistance will provide the other party a first look at any opportunities in their respective markets. 

 

ADDITIONAL
PROVISIONS

 

	A.	REPRESENTATIONS,
    WARRANTIES, AND CONDITIONS 
	 	 
	1.	SELLER

 

Seller
does hereby represent and warrant to Purchaser, as a material inducement to enter into this Agreement, that to the best of its
knowledge and belief of management at the present time:

 

(a)
The conduct of the business of PNTV is in full compliance with all applicable Federal, State and local governmental statutes,
rules, regulations, ordinances and decrees;

 

(b)
Upon the exercise of Warrants and issuance of the underlying Shares, Purchaser will become the owner of record of up to 50,000,000
shares of PNTV issued and outstanding Capital Stock.

 

(c)
The execution, delivery and performance of this Agreement and the transactions contemplated hereby do not require the consent,
authority or approval of any other person or entity except such as has been obtained;

 

	 2.	PURCHASER

 

Purchaser
hereby represents, warrants, covenants and acknowledges that with respect to shares purchased hereunder not covered by a covenant
to register, that:

 

    	 	3	 

    	 	 	 

    

 

(a)
The shares are being conveyed in compliance with the applicable provisions of Rule 144 without registration and under the provisions
of Section 5 of the Securities Act of 1933, as amended (the “Act”) pursuant to exemptions provided pursuant to Sections
3(b), 4(2) or 4(6) thereof;

 

(b)
The purchaser is acquiring the shares for investment purposes and without a view towards further sale or distribution.

 

B. GENERAL
PROVISIONS

 

1.
ENTIRETY  

 

This
Agreement together with the instruments referred to herein, contains all of the understandings and agreements of the parties with
respect to the subject matter discussed herein. All prior agreements whether written or oral are merged herein and shall have
no force and effect.

 

2.
SURVIVAL

 

The
several representations, warranties and covenants herein shall survive the execution hereof and shall be effective regardless
of any investigation that may have been made or may be made by or on behalf of any party. The Seller covenants that it has not
failed to disclose any material fact or circumstance to Purchaser, which if known to the Purchaser prior to or during this transaction
would alter the Purchaser’s decision as to if or in what manner the Purchaser would acquire the subject shares from Seller.

 

3.
SEVERABILITY

 

If
any provision of this Agreement or any application of such provision to any person or circumstance shall be held invalid or unenforceable,
the remaining provisions of this Agreement shall not be affected thereby.

 

4.
GOVERNING LAW

 

This
Agreement shall be construed in accordance with the laws of the State of Nevada.

 

5.
LITIGATION 

 

In
the event disputes arise from a difference of interpretation of or failure of either party to perform under the terms of this
Agreement, such disputes shall not be subject to litigation but submitted to binding arbitration for final settlement. For the
purpose of this Agreement, any damages and costs arising from such disputes awarded to the prevailing party shall include attorney
and arbitration costs in the aggregate.

 

6.
BENEFIT OF AGREEMENT

 

The
terms and provisions of this Agreement shall be binding upon and inure to the benefit of the parties, their successors, estate,
heirs and legatees. Notwithstanding anything contained herein elsewhere, no portion of this Agreement or any rights granted thereunder
may be assigned, transferred or hypothecated by Purchaser without the prior written consent of Seller.

 

8.
FURTHER ASSURANCES

 

 The
parties agree to do, execute, acknowledge and deliver (or cause to done, executed, acknowledged or delivered) and to perform all
such acts and deliver all such deeds, assignments, transfers, conveyances, powers of attorney, assurances, stock certificates
and other documents, as may, from time to time, be required herein to effect the intent and purpose of this agreement.  

 

9.
TERMINATIONS

 

In
the event that both parties fail to complete the terms and conditions of the Agreement, then this Agreement shall be deemed terminated
and void as between the parties with no party having any rights or liabilities against the other. The term of this agreement shall
not exceed five years from the date of execution hereof. Notwithstanding anything to the contrary contained in this agreement,
the Binding Provisions will terminate by mutual written consent of the Parties, provided that the termination of the Binding Provisions
shall not affect the liability of a Party for breach of any of the Binding Provisions prior to the termination. Upon termination
of the Binding Provisions, the Parties shall have no further obligations hereunder, except as stated in Paragraphs 11.b, c and
d below, which shall survive any such termination.

 

    	 	4	 

    	 	 	 

    

 

10.
AMENDMENT 

 

No
modification, waiver, amendment discharge or change of this Agreement shall be valid unless same is evidenced by a written instrument
subscribed by both parties to this Agreement.

 

11.
NOTICES

 

a. All
notices demands or other communications given hereunder shall be in writing and shall be deemed to have been duly given on the
first business day after mailing by United States registered or certified mail, return receipt requested, postage prepaid and
addressed as follows:

 

	 	TO
    PURCHASER:
	 	 
	 	RxMM
    Health Limited
	 	45
    Ventnor Avenue 
	 	West
    Perth, 6005 Australia, 
	 	 
	 	TO
    SELLER:
	 	 
	 	Players
Network Inc.
	 	1771
    East flamingo Road
	 	Suite
    201a
	 	Las
    Vegas, Nevada 89119

 

 b. Disclosure.
Except as and to the extent required by law, without the prior written consent of all other Parties, no Party hereto shall, and
each shall direct its representatives not to directly or indirectly, make any public comment, statement or communication with
respect to, or otherwise disclose or permit the disclosure of the existence of discussions regarding a possible Transaction between
the Parties or any of the terms, conditions or other aspects of the transactions proposed in this LOI.

 

 c. Confidentiality.
Except as and to the extent required by law, no Party shall disclose or use, and it shall cause its representatives not to disclose
or use, any and all information, documents or other proprietary information obtained by one Party (or its representatives) from
any other Party (or its representatives) (collectively, the “Confidential Information”) in any manner other
than in connection with such Party’s evaluation of the transactions proposed in this LOI. For purposes of this paragraph,
“Confidential Information” does not include information that the disclosing Party can demonstrate (1) is generally
available to or known by the public other than as a result of improper disclosure by the disclosing Party, or (2) is obtained
by the disclosing Party from a source other than a Party hereto, provided that each source was not bound by a duty of confidentiality
with respect to such information. If the Binding Provisions are terminated pursuant to Paragraph H below, each Party shall promptly
return any Confidential Information in its possession to the appropriate Party.

 

 d. Costs.
Each Party hereto shall be responsible for and shall bear all of its own costs and expenses incurred in connection with the proposed
Transaction.

 

 e. Assignment.
Neither the Company nor the Investors may assign their rights under this LOI (and under any of the Definitive Agreements) to anyone
without the prior consent of the other Party.

 

    	 	5	 

    	 	 	 

    

 

If
the foregoing is acceptable to you in principal, please sign and date this Definitive Agreement in the space provided below to
confirm the mutual agreements set forth in the Binding Provisions and return a signed copy to the undersigned on or before July
25th 2016.

 

	Dated: August 15th, 2016	 
	 	 	 	 
	Accepted by:	 
	 	 	 	 
	Company	Player’s Network, Inc.	 
	 	 	 	 
	 	By:	/s/ Mark Bradley	 
	 	Name:	Mark
    Bradley	 
	 	Its:	 Chief Executive Officer	 

 

	Investor	RxMM
    Health Limited	 
	 	 	 	 
		By:	/s/ Ross
    Lyndon-James	 
	 	Name: 	Ross
    Lyndon-James	 
	 	Its:	 Chief Executive Officer 	 

 

Attachments:

 

Attachment
A – Debenture Agreement

Attachment
B – Warrant Agreement

 

Exhibits:

Exhibit
A – Investment Schedule to PNTV

Exhibit
B – Warrant Schedule

Exhibit
C – Conversion Rights

Exhibit
D – Use of Proceeds

 

    	 	6	 

    	 	 	 

    

 

EXHIBIT
A

 

Investment
Schedule to PNTV

 

Below
is the Investment Schedule from RxMM to PNTV:

 

	 	1.	Upon
    signing this LOI, $25,000 paid to Players Network Inc.
	 	 	 
	 	2.	Within
    14 days of signing this LOI $125,000 paid to Players Network Inc.
	 	 	 
	 	3.	Upon
    Signing Definitive Agreement $350,000, not to exceed 30 days on a “best efforts” basis.
	 	 	 
	 	4.	60
    days after signing the Definitive Agreement $2,000,000 on a mutually agreed draw down schedule on a “best efforts”
    basis.

 

EXHIBIT
B

 

Warrant
Schedule

 

RxMM
will be granted with the following warrants, which shall be issued at each funding milestone amount described in the table below.
The warrant exercise price is defined in the table below and the timing of exercise shall be tied to the Company’s share
price based on a fourteen-day (14) trailing average basis.

 

RxMM
reserves the right to convert part or the entire debenture into the warrant exercise price with any residual balance including
interest to be repaid by the Company at Term.

 

The
Warrants are callable if the stock averages 200% of the warrant strike price for any thirty days (30) trading period. As an example,
if the stock is trading at 0.10 the Company can call the .0.05 warrants. RxMM would then have 10 days to exercise these warrants.
After exercise of all warrants below and remaining principal and accrued interest could be converted into stock at a 25% discount
to market and any excess over the amount of interest will be paid in cash.

 

	Debenture
Funding Milestone
	Warrants
    & Exercise Price Details 
	$400,000
    	10
    million at $0.05 for 2 years 
	$401,000
    - $800,000 	15
    million at $0.06 for 2 years 
	$800,001
    - $1,600,000 	15
    million at $0.07 for 2 years 
	$1,600,001
    - $2,500,000 	10
    million at $0.08 for 2 years

 

    	 	7	 

    	 	 	 

    

 

EXHIBIT
C

 

Conversion
Rights

 

[Insert
here]

 

    	 	8	 

    	 	 	 

    

 

EXHIBIT
D

 

Use
of Proceeds

 

Exhibit
D is a general use of proceeds of $2,500,000 and subject to be adjusted depending on other financing and capital sources.

 

	Use of Proceeds	 	 	 
	 	 	 	 
	PNTV Corporate	 	 	 	 
	General overhead	 	$	150,000	 
	Debt reduction	 	$	150,000	 
	Weed TV Launch	 	 	 	 
	Platform development	 	$	50,000	 
	Sales team	 	$	125,000	 
	Advertising	 	$	50,000	 
	New content	 	$	75,000	 
	Customer service	 	$	50,000	 
	Membership services	 	$	50,000	 
	Technical support	 	$	50,000	 
	Management	 	$	50,000	 
	 	 	 	 	 
	Green Leaf Farms	 	$	1,700,000	 
	 	 	 	 	 
	Phase # 1 construction	 	$	650,000	 
	Lighting	 	 	 	 
	HVAC	 	$	250,000	 
	Water purification	 	$	125,000	 
	Other supplies	 	$	40,000	 
	Extractions equip.	 	$	30,000	 
	General overhead	 	$	80,000	 
	Payroll	 	$	150,000	 
	Licenses fee	 	$	125,000	 
	Professional fee	 	$	75,000	 
	Security equipment	 	$	75,000	 
	Other equipment	 	$	55,000	 
	Office equipment	 	$	20,000	 
	Contingency	 	$	100,000	 
	 	 	 	 	 
	Total	 	$	2,500,000NEITHER THESE SECURITIES NOR ANY SECURITIES
ISSUABLE UPON THE CONVERSION HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS
PROMULGATED THEREUNDER (THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY SECURITIES
ISSUABLE UPON THE CONVERSION HEREOF MAY BE OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED UNLESS THEY ARE REGISTERED UNDER THE
1933 ACT OR THE LAWS OF APPLICABLE STATES OR SUCH OFFER, SALE OR TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

 

5% CONVERTIBLE DEBENTURE

 

DUE 24 months from the final investment
of moneys advanced through that certain Letter of Intent executed by the parties named below dated 4/20/2016, combined with a draw
down commitment, totaling $2,500.000 in the aggregate.

 

FOR VALUE RECEIVED,
Player Network Inc., a Nevada corporation (the “Company”), hereby promises to pay to RxMM Health or registered assigns
(the “Holder”) on or before 24 months (the “Maturity Date”) from the date of the final total draw down the
principal amount of $2,500.000 Dollars plus all accrued interest on the principal amount hereof, in such amounts, at such times
and on such terms and conditions as are specified herein.

 

	I.	ARTICLE 1. Interest

 

The Company
shall pay interest on the unpaid principal amount of this Debenture (this “Debenture”) at the rate of Five Percent (5%)
per year, payable in arrears until the principal hereof is paid in full or has been converted. Interest on this Debenture shall
accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance of
this Debenture. Interest shall be computed on the basis of a 360- day fiscal year of 12 30-day months. If the Holder shall elect
to convert this Debenture during any fiscal quarter, the Company shall pay to the Holder, upon conversion, the pro-rata portion
of accrued interest payable through the conversion date, payable 15 days after the close of the fiscal quarter in which the conversion
took place

    	1 

    	 

    

  

	II.	ARTICLE 2. Method of Payment

 

This Debenture must
be surrendered to the Company in order for the Holder to receive payment of the principal amount hereof. The Company shall pay
the principal of and interest on this Debenture in United States dollars. For payment hereunder the Company may draw a check or
apply equivalent amounts of elected conversions by Holder of any of his Warrants then held for any payments of interest in any
amount to the order of the Holder of this Note and mail it to the Holder’s address as shown on the Register (as defined in Section
7.2 below). Interest and principal payments shall be subject to withholding under applicable United States Federal Internal Revenue
Service Regulations.

 

	III.	ARTICLE 3. Conversion

 

SECTION 3.1. Conversion Privilege

 

a. The Holder of this Debenture shall
have the right, at its option, to convert it into shares of common stock, no par value per share, of the Company (“Common
Stock”) at any time which is before the close of business on the Maturity Date, except as set forth in Section 3.1(c) below.
The number of shares of Common Stock issuable upon the conversion of this Debenture is determined by dividing the principal amount
hereof to be converted plus all accrued interest thereon minus any required withholding by the conversion price in effect on the
conversion date (as defined in paragraph (b) of this Section 3.1 below) and rounding the result to the nearest 1/100th of a share.
On conversion, no payment of or adjustment (other than as provided in the previous sentence) for accrued interest shall be made
whether or not such conversion occurs before, on or after an interest payment date. This privilege of Conversion is non-transferable
without the written consent of the Company, which will not be unreasonable withheld.

 

b. The conversion price is Twenty-Five
Percent (25%) off the 30 average market price of the Common Stock leading up to the conversion date.

 

c. Less than the entire principal amount
of this Debenture may be converted into Common Stock if the portion converted is $2,500,000 or a whole multiple of $50,000 and
the provisions of this Article 3 that apply to the conversion of the entire Debenture also apply to the conversion of any portion
of it. All accrued interest on this Debenture shall be added to the amount converted if less than the entire principal amount of
this Debenture is converted and shall be deemed to be paid and discharged thereby.

 

d. In the event any Debentures remain
outstanding on or after the anniversary of the maturity date hereof, the unconverted portion of such Debentures will be convertible
in the manner set forth in this Section 3.1; however, the conversion price shall be equal to the 30 day average market price on
the conversion date, or converted by the exercising of the warrants per a fixed schedule see warrant agreement

 

SECTION 3.2.
Conversion Procedure. To convert this Debenture into Common Stock, the Holder must (a) complete and sign the Notice of Conversion
attached hereto and (b) surrender the Debenture to the Company. The date upon which the Company receives the completed Notice of
Conversion (by mail, email, facsimile or otherwise) is the conversion date, provided that the Company shall not be required to
deliver a certificate for Common Shares unless and until the Company receives the Debenture. Within five business days after receipt
of the Notice of Conversion, providing the Company has received the Debenture from the Holder, the Company shall deliver a certificate
for the number of full shares of Common Stock issuable upon the conversion and a check for any fraction of a share.

 

    	2 

    	 

    

 

SECTION 3.3.
Fractional Shares. The Company shall not issue a fractional share of Common Stock upon the conversion of this Debenture. Instead,
the Company shall pay in lieu of any fractional share the cash value thereof at the then current market price of the Common Stock
as determined under Section 3.7 below.

 

SECTION 3.4.
Taxes on Conversion. The Company shall pay any documentary, stamp or similar issue or transfer tax due on the issue of shares of
Common Stock upon the conversion of this Debenture. However, the Holder shall pay any such tax which is due because the shares
are issued in a name other than its name.

 

SECTION 3.5.
Company to Reserve Stock. The Company shall reserve out of its authorized but unissued Common Stock or Common Stock held in treasury
enough shares of Common Stock to permit the conversion of this Debenture. All shares of Common Stock which may be issued upon the
conversion hereof shall be fully paid and non-assessable.

 

SECTION 3.6.
Restrictions on Transfer. This Debenture being a Security and the Common Stock issuable upon the conversion hereof have not been
registered under the Securities Act of 1933 (the “Act”) and this Debenture and the Common Stock issuable upon the conversion
of this Debenture may not be offered for sale, sold or otherwise transferred unless such offer, sale or other transfer is registered
under the Act or such securities or such transfer is exempt from such registration.

 

SECTION 3.7. Current Market Price.

 

a. In Sections
3.1 and 3.3, the current market price per share of Common Stock on any date is the average of the quoted prices of the Common Stock
for five consecutive trading days ending on the trading day before the date in question.

 

b. As used in
this Section 3.7, the term quoted price shall mean (i) the closing bid prices thereof on any such trading date, as reported by
Bloomberg, L.P. or (ii) in the event the Common Stock is not reported on such system, the fair market value of the Common Stock
as determined by the Board of Directors of the Company in its good faith judgment.

 

    	3 

    	 

    

  

SECTION 3.8. Mergers,
Etc. If the Company merges or consolidates with another corporation or sells or transfers all or substantially all of its assets
to another person and the holders of the Common Stock are entitled to receive stock, securities or property in respect of or in
exchange for Common Stock, then as a condition of such merger, consolidation, sale or transfer, the Company and any such successor,
purchaser or transferee shall amend this Debenture to provide that it may thereafter be converted on the terms and subject to the
conditions set forth above into the kind and amount of stock, securities or property receivable upon such merger, consolidation,
sale or transfer by a holder of the number of shares of Common Stock into which this Debenture might have been converted immediately
before such merger, consolidation, sale or transfer.

 

	IV.	ARTICLE 4. Mergers

 

The Company shall
not consolidate or merge into, or transfer all or substantially all of its assets to, any person, unless such person assumes the
obligations of the Company under this Debenture and immediately after such transaction no Event of Default exists. Any reference
herein to the Company shall refer to such surviving or transferee corporation and the obligations of the Company shall terminate
upon such assumption.

 

	V.	ARTICLE 5. Reports

 

The Company will mail
to the Holder hereof at its address as shown on the Register a copy of any annual, quarterly or current report that it files with
the SEC or the OTC Markets promptly after the filing thereof and a copy of any annual, quarterly or other report or proxy statement
that it gives to its shareholders generally at the time such report or statement is sent to shareholders.

  

	VI.	ARTICLE 6. Defaults and Remedies

 

SECTION 6.1. Events
of Default. An “Event of Default” occurs if (a) the Company does not make the payment of the principal of this Debenture
when the same becomes due and payable at the Maturity Date, upon redemption or otherwise, (b) the Company does not make a payment
of interest when such interest becomes due and payable and such default continues for a period of 10 days thereafter, (c) the
Company fails to issue shares of Common Stock upon conversion, (d) the Company fails to comply with any of its other agreements
in this Debenture and such failure continues for the period and after the notice specified below, (e) the Company pursuant to
or within the meaning of any Bankruptcy Law (as hereinafter defined): (i) commences a voluntary case; (ii) consents to the entry
of an order for relief against it in an involuntary case; (iii) consents to the appointment of a Custodian (as hereinafter defined)
of it or for all or substantially all of its property; (iv) makes a general assignment for the benefit of its creditors; or (v)
a court of competent jurisdiction enters 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, and the order or decree remains unstayed and in effect for 60 days. As used in this Section 6.1,
the term “Bankruptcy Law” means Title 11 of the United States 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. A default under clause (d) above is not an Event of Default until the holders of at least 25% of the aggregate principal
amount of the Debentures notify the Company of such default and the Company does not cure it within 10 days after the receipt
of such notice, which must specify the default, demand that it be remedied and state that it is a “Notice of Default.”

  

SECTION 6.2. Events of Default by
the Holder. In the event Holder becomes insolvent or bankrupt, or transfers, hypothecates, or otherwise disposes or conveys any
portion of any of Holder’s rights or interest in regard to this debenture to a third party not controlled by Holder, without
the approval of the Company, the conversion privileges granted hereunder shall be suspended, until such action is either rectified
or approved.

 

SECTION 6.3. Acceleration.
If an Event of Default occurs and is continuing, the Holder hereof by notice to the Company, may declare the principal of and accrued
interest on this Debenture to be due and payable. Upon such declaration, the principal and interest hereof shall be due and payable
immediately.

 

	VII.	ARTICLE 7. Registered Debentures

 

SECTION 7.1.
Record Ownership. The Company shall maintain a register of the holders of the Debentures (the “Register”) showing their
names and addresses and the serial numbers and principal amounts of Debentures issued to or transferred of record by them from
time to time. The Register may be maintained in electronic, magnetic or other computerized form. The Company may treat the person
named as the Holder of this Debenture in the Register as the sole owner of this Debenture. The Holder of this Debenture is the
person exclusively entitled to receive payments of interest on this Debenture, receive notifications with respect to this Debenture,
convert it into Common Stock and otherwise exercise all of the rights and powers as the absolute owner hereof.

 

    	4 

    	 

    

 

SECTION 7.2.
Registration of Transfer. Transfers of this Debenture may be registered on the books of the Company maintained for such purpose
pursuant to Section 7.2 above (i.e., the Register). Transfers shall be registered when this Debenture is presented to the Company
with a request to register the transfer hereof and the Debenture is duly endorsed by the appropriate person, reasonable assurances
are given that the endorsements are genuine and effective, and the Company has received evidence satisfactory to it that such transfer
is rightful and in compliance with all applicable laws, including tax laws and state and federal securities laws. When this Debenture
is presented for transfer and duly transferred hereunder, it shall be cancelled and a new Debenture showing the name of the transferee
as the record holder thereof shall be issued in lieu hereof. When this Debenture is presented to the Company with a reasonable
request to exchange it for an equal principal amount of Debentures of other denominations, the Company shall make such exchange
and shall cancel this Debenture and issue in lieu thereof Debentures having a total principal amount equal to this Debenture in
the denominations requested by the Holder. The Company may charge a reasonable fee for any registration of transfer or exchange
other than one occasioned by a notice of redemption or the conversion hereof.

 

	VIII.	ARTICLE 8. Notices

 

Except as otherwise
provided in this Debenture, any notice which is required or convenient under the terms of this Debenture shall be duly given if
it is in writing and (a) delivered in person (b) mailed by first class mail, postage prepaid, or (c) sent by private overnight
mail service (such as Federal Express) and directed to the Holder of the Debenture at its address as it appears on the Register
or if to the Company to its principal executive offices. Such notice shall be effective, when personally delivered, upon receipt,
when so sent by first class mail, four business days after deposit with the United States Postal Service, or when so sent by private
overnight mail service, the next business day after deposit.

 

	IX.	ARTICLE 9. Time

 

Where this Debenture
authorizes or requires the payment of money or the performance of a condition or obligation on a Saturday or Sunday or a public
holiday, or authorizes or requires the payment of money or the performance of a condition or obligation within, before or after
a period of time computed from a certain date, and such period of time ends on a Saturday or a Sunday or a public holiday, such
payment may be made or condition or obligation performed on the next succeeding business day, and if the period ends at a specified
hour, such payment may be made or condition performed, at or before the same hour of such next succeeding business day, with the
same force and effect as if made or performed in accordance with the terms of this Debenture. Where time is extended by virtue
of the provisions of this Article 9, such extended time shall not be included in the computation of interest.

 

    	5 

    	 

    

 

	X.	ARTICLE 10. Waivers

 

The holders of a majority
in principal amount of the Debentures may waive a default or rescind the declaration of an Event of Default and its consequences
except for a default in the payment of principal of or interest on any Debenture.

 

	XI.	ARTICLE 11. Rules of Construction

 

In this Debenture,
unless the context otherwise requires, words in the singular number include the plural, and in the plural include the singular,
and words of the masculine gender include the feminine and the neuter, and when the sense so indicates, words of the neuter gender
may refer to any gender. The numbers and titles of sections contained in this Debenture are inserted for convenience of reference
only, and they neither form a part of this Debenture nor are they to be used in the construction or interpretation hereof. Wherever,
in this Debenture, a determination of the Company is required or allowed, such determination shall be made by a majority of the
Board of Directors of the Company and if it is made in good faith, it shall be conclusive and binding upon the Company and the
Holder of this Debenture.

 

	XII.	ARTICLE 12. Governing Law

 

The validity, terms,
performance and enforcement of this Debenture shall be governed and construed by the provisions hereof and in accordance with the
laws of the State of Nevada applicable to agreements that are negotiated, executed, delivered and performed solely in the State
of Nevada.

 

IN WITNESS WHEREOF,
the Company has duly executed this Debenture as of the date first written above.

 

PLAYER’S NETWORK, INC.

 

By

__________________________________________________________

Name

__________________________________________________________

Title

______________________________________________________

 

    	6 

    	 

    

 

NOTICE OF CONVERSION

 

[To be completed and signed only upon conversion
of Debenture]

 

The undersigned, the Holder of this Debenture,
hereby irrevocably elects to exercise the right to convert it into common stock, par value $     per share, of Players Network Inc.
Company as follows:

 

[Complete if less than ____________________ Dollars ($_________)*____

all of principal amount ($50,000 or integral multiples of $50,000)

is to be converted]

[Signature must be _______________________________________________

guaranteed if registered (Name of Holder of shares if different
than

holder of stock differs registered Holder of Debenture)

from registered Holder of

Debenture)

________________________________________________

(Address of Holder if different than address
of

registered Holder of Debenture)

 

________________________________________________

(Social Security or EIN of Holder of shares
if

different than Holder of Debenture)

 

*If the principal amount of the Debenture
to be converted is less than the

entire principal amount thereof, a new
Debenture for the balance of the

principal amount shall be returned to the
Holder of the Debenture.

 

Date:________________ Sign:_____________________________________

(Signature must conform in all respects

to name of Holder shown on face of this

Debenture)

 

    	7 

    	 

    

 

Signature Guaranteed:

Assignment of Note

 

The undersigned hereby sell(s) and assign(s)
and transfer(s) unto

 

————————————————————————

 

(name, address and SSN or EIN of assignee)

 

Dollars ($        )

—————————————————
——- —

 

(principal amount of Debenture, $10,000 or integral multiples
of $10,000)

 

of principal amount of this Debenture together with all accrued
interest hereon.

 

Date:       Sign:

———     ——————————————

 

(Signature must conform in all respects
to

 

name of Holder shown on face of Debenture)

 

Signature Guaranteed:

 

________________________________________________________________________________

 

    	8

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