Document:

Exhibit
    10.2	EXECUTION
    VERSION

 

THE
SECURITY REPRESENTED HEREBY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS AND NEITHER
SUCH SECURITY NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS
WHICH, IN THE OPINION OF COUNSEL FOR THE HOLDER, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO COUNSEL FOR THIS COMPANY,
IS AVAILABLE.

 

THE
OBLIGATIONS EVIDENCED BY THIS NOTE ARE SUBORDINATE IN THE MANNER AND TO THE EXTENT SET FORTH HEREIN TO THE SENIOR OBLIGATIONS,
AND THE HOLDER OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, IS BOUND BY THE PROVISONS HEREIN.

 

NTN
BUZZTIME, INC.

 

10%
PROMISSORY NOTE

 

	$500,000.00	December
    1, 2020

 

FOR
VALUE RECEIVED, NTN Buzztime, Inc., a Delaware corporation (the “Company”), promises to pay to the order of
Fertilemind Management, LLC, a Delaware limited liability company (“Fertilemind”), and its successors and permitted
assigns (the “Holder”), the principal sum of $500,000.00, in accordance with the terms hereof, and to pay interest
on the principal sum outstanding, at the rate of ten percent (10%) per annum, compounded annually. This Note is unsecured. The
Company hereby acknowledges receipt of such principal sum.

 

The
following is a statement of the rights of the Holder of this Note and the terms and conditions to which this Note is subject,
and to which the Holder, by acceptance of this Note, agrees:

 

1.
Principal Repayment.

 

(a)
This Note and any accrued interest hereunder will become due and payable in accordance with the terms hereof upon the earlier
of (i) the termination of the Asset Purchase Agreement, dated as of September 13, 2020, by and between the Company and eGames.com
Holdings LLC (“Purchaser”),
an affiliate of Fertilemind (the “Asset Purchase Agreement”), pursuant to
Section 9.1 thereof, (ii) the closing of a Business Combination, and (iii) March 1, 2021 (such earlier date, the “Maturity
Date”); provided, however, that upon the Closing (as defined in the Asset Purchase Agreement),
the outstanding principal amount of this Note and all accrued and unpaid interest thereon shall be applied against the obligation
of Purchaser to pay the Purchase Price (as defined in the Asset Purchase Agreement) on the Closing Date (as defined in the Asset
Purchase Agreement), and this Note shall be extinguished.

 

    	 

    	 

    

 

(b)
For the purposes of this Note, the following terms shall have the respective meanings provided in this Section ‎(b):

 

(i)
“Business Combination” shall mean the: (A) merger of the Company with any Person in which the stockholders
of the Company (if considered a group) immediately prior to such transaction do not continue to control, directly or indirectly,
more than fifty percent (50%) of the voting securities of the surviving Person in such transaction and have a right to at least
more than fifty percent (50%) of the aggregate economic rights of distributions or dividends to holders of securities of such
surviving Person and any Person that Controls such surviving Person; (B) the sale of all or substantially all of the assets of
the Company, including any sale by license, contract or similar arrangement, in one or a series of related transactions; (C) any
tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of common stock
of the Company are permitted to tender or exchange their shares for other securities, cash or property, or (D) the Company effects
any reclassification of its common stock or any compulsory share exchange pursuant to which the common stock of the Company is
effectively converted into or exchanged for other securities, cash or property.

 

(ii)
“Control” shall mean power and authority of a specified Person to control the business and affairs of any other
specified Person.

 

(iii)
“Person” shall mean an individual or corporation, partnership, trust, incorporated or unincorporated association,
joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity
of any kind.

 

2.
Interest. The
Holder of this Note is entitled to receive interest at an annual interest rate of ten percent (10%), compounded annually, of the
outstanding principal amount of this Note; provided, however, that during any Event of Default (as defined below) under this Note
the interest rate shall increase to fifteen percent (15%) per annum, compounded annually. Interest on the outstanding principal
balance of this Note shall be computed on the basis of the actual number of days elapsed and a 365-day year. Accrual of the interest
on the outstanding principal amount shall commence on the date hereof and shall continue until the earlier of (a) the date on
which all of the obligations of this Note have been paid in full and (b) the Closing. Subject to the proviso in Section 1(a),
all accrued and unpaid interest on the outstanding balance of this Note shall be paid on the Maturity Date.

 

3.
Affirmative and Negative Covenants of the Company.
The Company hereby covenants to the Holder as follows:

 

(a)
Event of Default. Within five (5) business days of any officer of the Company obtaining knowledge of any Event of Default
(as defined in Section 4 hereof), if such Event of Default is then continuing, the Company shall furnish to the Holder a written
notice setting forth the details thereof and the action which the Company is taking or proposes to take with respect thereto.

 

(b)
Performance. The Company will not, by any voluntary action, avoid or seek to avoid the observance or performance of any
of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying
out of the provisions of this Note.

 

(c)
Use of Proceeds. The proceeds of the loan represented by this Note shall be used by the Company only for the payment of
operating expenses that are incurred by the Company in connection with its ordinary course of business, and expenses incurred
in connection with the transactions contemplated by the Asset Purchase Agreement and any Company Merger (as defined in the Asset
Purchase Agreement).

 

4.
Events of Default.
This Note shall become immediately due and payable at the option of the Holder, upon any one
or more of the following events or occurrences (“Events of Default”):

 

(a)
if any portion of this Note is not paid when due;

 

    	2

    	 

    

 

(b)
if the Company defaults in the observance or performance of any other material term, agreement, covenant or condition of this
Note and the Company fails to remedy such default within fifteen (15) days after the date of such default, or, if such default
is of such a nature that it cannot with due diligence be cured within said fifteen (15) day period, if the Company fails, within
said fifteen (15) days, to commence all steps necessary to cure such default, and fails to complete such cure within thirty (30)
days after the end of such fifteen (15) day period;

 

(c)
if any final judgment for the payment of money is rendered against the Company and the Company does not discharge the same or
cause it to be discharged or vacated within ninety (90) days from the entry thereof, or does not appeal therefrom or from the
order, decree or process upon which or pursuant to which said judgment was granted, based or entered, and does not secure a stay
of execution pending such appeal within ninety (90) days after the entry thereof or if there is an acceleration of the obligations
by any of the holders of the existing indebtedness for borrowed money of the Company and the Company does not satisfy such obligations
or stay such acceleration within thirty (30) days;

 

(d)
if the Company makes an assignment for the benefit of creditors or if the Company generally does not pay its debts as they become
due; or

 

(e)
if a receiver, liquidator or trustee of the Company is appointed or if the Company is adjudicated a bankrupt or insolvent, or
if any petition for bankruptcy, reorganization or arrangement pursuant to federal bankruptcy law, or any similar federal or state
law, is filed by or against, consented to, or acquiesced in, by the Company or if any proceeding for the dissolution or liquidation
of the Company is instituted; however, if such appointment, adjudication, petition or proceeding is involuntary and is not consented
to by the Company, upon the same not being discharged, stayed or dismissed within sixty (60) days.

 

5.
Usury. In
no event shall the amount of interest paid or agreed to be paid hereunder exceed the highest lawful rate permissible under applicable
law. Any excess amount of deemed interest shall be null and void and shall not interfere with or affect the Company’s obligation
to repay the principal of and interest on this Note.

 

6.
Mutilated, Destroyed, Lost or Stolen Note.
In case this Note shall become mutilated or defaced, or be destroyed, lost or stolen, the Company shall execute and deliver a
new note of like principal amount in exchange and substitution for the mutilated or defaced Note, or in lieu of and in substitution
for the destroyed, lost or stolen Note. In the case of a mutilated or defaced Note, the Holder shall surrender such Note to the
Company. In the case of any destroyed, lost or stolen Note, the Holder shall furnish to the Company: (a) evidence to its satisfaction
of the destruction, loss or theft of such Note and (b) such security or indemnity as may be reasonably required by the Company
to hold the Company harmless.

 

7.
Waiver of Demand, Presentment, etc.

 

(a)
The Company hereby expressly waives demand and presentment for payment, notice of nonpayment, protest, notice of protest, notice
of dishonor, notice of acceleration or intent to accelerate, bringing of suit and diligence in taking any action to collect amounts
called for hereunder and shall be directly and primarily liable for the payment of all sums owing and to be owing hereunder, regardless
of and without any notice, diligence, act or omission as or with respect to the collection of any amount called for hereunder.

 

(b)
No delay or omission on the part of the Holder in exercising any right hereunder shall operate as a waiver of such right or of
any other right of Holder, nor shall any delay, omission or waiver on any one occasion be deemed a bar to or waiver of the same
or any other right on any future occasion.

 

    	3

    	 

    

 

8.
Payment.

 

(a)
Except as otherwise provided for herein, all payments with respect to this Note shall be made in lawful currency of the United
States of America by check or wire transfer of immediately available funds, at the option of the Holder, at the principal office
of the Holder or such other place or places or designated accounts as may be reasonably specified by the Holder of this Note in
a written notice to the Company at least three (3) business days prior to payment. Payment shall be credited first to the accrued
interest then due and payable and the remainder applied to principal.

 

(b)
This Note may be prepaid in full, but not in part, without payment of additional fee or penalty.

 

9.
Assignment.
The obligations of the Company under this Note shall be binding upon, its successors or assigns. Neither the Company nor the Holder
may assign any rights, duties or obligations hereunder unless the other party shall have given its prior written consent.

 

10.
Waiver and Amendment.
Any provision of this Note, including, without limitation, the maturity date hereof, and the observance of any term hereof, may
be amended, waived or modified (either generally or in a particular instance and either retroactively or prospectively) only with
the written consent of the Company and the Holder.

 

11.
Notices.
Any notice, request or other communication required or permitted hereunder shall be given or made pursuant to and in accordance
with Section 11.8 of the Asset Purchase Agreement.

 

12.
Governing Law; Jurisdiction; Waiver of Jury Trial.

 

(a)
THIS NOTE SHALL BE ENFORCED, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW.

 

(b)
THE COMPANY HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE OF NEW YORK OR UNITED STATES FEDERAL COURTS LOCATED IN NEW
YORK COUNTY, NEW YORK WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS NOTE. THE COMPANY IRREVOCABLY WAIVES THE DEFENSE OF AN INCONVENIENT
FORUM TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING. THE COMPANY FURTHER AGREES THAT SERVICE OF PROCESS UPON IT MAILED BY FIRST
CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON THE COMPANY IN ANY SUCH SUIT OR PROCEEDING. NOTHING
HEREIN SHALL AFFECT THE HOLDER’S RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. THE COMPANY AGREES THAT A
FINAL NON-APPEALABLE JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY
SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER.

 

(c)
THE COMPANY 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 WITH OR ARISING OUT OF THIS NOTE.

 

    	4

    	 

    

 

13.
Severability.
If one or more provisions of this Note are held to be unenforceable under applicable law, such provisions shall be excluded from
this Note, and the balance of this Note shall be interpreted as if such provisions were so excluded and shall be enforceable in
accordance with its terms.

 

14.
Headings. Section
headings in this Note are for convenience only, and shall not be used in the construction of this Note.

 

15.
Costs of Collection.
The Company shall pay all reasonable and documented attorney fees, and all other reasonable and documented fees and disbursements
of the Holder that are incurred to enforce the terms and conditions of this Note or to defend any action by Holder or any of its
affiliates asserted by or on behalf of the Company.

 

16.
SUBORDINATION.

 

(a)
The indebtedness and all other obligations evidenced by this Note (the “Subordinated
Debt”) is subordinated to the indebtedness and all other obligations owing by the Company
to Avidbank (the “Senior Debt”) including pursuant to that certain Loan and
Security Agreement, dated as of September 28, 2018 and as amended from time to time by and between the Company and Avidbank (the
“Loan Agreement”). By acceptance hereof, Holder agrees that Holder will not
do any of the following: (i) demand or receive from the Company all or any part of the Subordinated Debt, by way of payment, prepayment,
setoff, lawsuit or otherwise, (ii) permit the Subordinated Debt to be secured by any property of the Company, (iii) exercise any
remedy with respect to the Subordinated Debt, (iv) accelerate the Subordinated Debt, (v) commence, or cause to commence, prosecute
or participate in any administrative, legal or equitable action against the Company, or (vi) permit any part of this Note to be
amended or waived, in all cases until such time as the Senior Debt is fully paid in cash and Avidbank has no commitment or obligation
to lend any further funds to the Company. Any payments, distributions or proceeds received by Holder in contravention of the terms
of this Note shall be held in trust for the benefit of Avidbank, and Holder will promptly turn over any such payments to Avidbank
to be applied to the Senior Debt. Holder subordinates to Avidbank any security interest or lien that Holder may have or acquire
in any property of the Company, and agrees that Lender shall not exercise any remedy with respect thereto.

 

(b)
In any bankruptcy, insolvency or similar proceeding involving the Company, Holder irrevocably appoints Avidbank as Holder’s
attorney in fact, and grants to Avidbank a power of attorney with full power of substitution, in the name of Holder or in the
name of Avidbank, for the use and benefit of Avidbank, to (i) file the appropriate claim or claims in respect of the Subordinated
Debt on behalf of Holder if Holder does not do so prior to 15 days before the expiration of the time to file claims in such proceeding
and if Avidbank elects, in its sole discretion, to file such claim or claims; and (ii) accept or reject any plan of reorganization
or arrangement on behalf of Holder and to otherwise vote Holder’s claims in respect of any Subordinated Debt in any manner
that Avidbank deems appropriate for the enforcement of its rights hereunder.

 

(c)
In the event of the Company’s insolvency, reorganization or any case or proceeding under any bankruptcy or insolvency law
or laws relating to the relief of debtors, these provisions shall remain in full force and effect, and Avidbank’s claims
against the Company shall be paid in full before any payment is made to Holder. If, at any time after payment in full of the Senior
Debt any payments of the Senior Debt must be disgorged by Avidbank for any reason (including, without limitation, the bankruptcy
of the Company), the rights and priorities set forth herein shall be reinstated as to all such disgorged payments as though such
payments had not been made and Holder shall immediately pay over to Avidbank all payments received with respect to the Subordinated
Debt to the extent that such payments would have been prohibited hereunder.

 

(d)
Avidbank is an express third-party beneficiary of this Section, which may not be waived or amended without the prior written consent
of Avidbank. In the event of any conflict between this Section and any other provision set forth in this note or any other document
governing the Subordinated Debt, the terms of this Section shall apply. No amendment to this Note or the Asset Purchase Agreement
or any other documents evidencing or relating to the Subordinated Debt shall directly or indirectly modify the provisions of this
Section in any manner which might terminate or impair the subordination of the Subordinated Debt as set forth herein.

 

[Signature
Page to Follow]

 

    	5

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be issued as of the date first above written.

 

	 	NTN
    BUZZTIME, INC.
	 	 	 
	 	By:	
	 	Name:	Sandra
    Gurrola
	 	Title:
    	Sr.
    Vice President of Finance

 

[Signature
Page to Bridge Note]Exhibit 10.12

 

 

 

MARIJUANA COMPANY OF AMERICA, INC.

SUBSCRIPTION AGREEMENT

 

The undersigned (the “Investor”)
hereby confirms its agreement with Marijuana Company of America, Inc., a Utah corporation (the “Company”), as
follows:

 

1. This Subscription Agreement, including
the Terms and Conditions for Purchase of Securities attached hereto as Annex I (collectively, this “Agreement”)
is made as of the date set forth below between the Company and the Investor.

 

2. The Company has authorized the sale
and issuance to certain investors of up to a maximum of 646,883,314 authorized and unissued shares (the “Shares”)
of its common stock, par value $0.001 per share (the “Common Stock”), at a public offering price of $0.002 per
Share (the “Purchase Price”).

 

3. The offering and sale of the Shares
(the “Offering”) are being made pursuant to (1) an effective Registration Statement on Form S-1, File No. 333-                    (the
“Registration Statement”) filed under the Securities Act of 1933, as amended (the “Securities Act”),
and by the Company with the U.S. Securities and Exchange Commission (the “Commission”) (including the preliminary
prospectus contained therein (the “Preliminary Prospectus”)), and (2) if applicable, certain “free
writing prospectuses” (as that term is defined in Rule 405 under the Securities Act), that have been filed with the Commission
and delivered to the Investor on or prior to the date hereof (the “Issuer Free Writing Prospectus”), containing
certain supplemental information regarding the Shares, the terms of the Offering and the Company, and (3) a final prospectus
(the “Prospectus”) that has been or will be filed with the Commission and delivered to the Investor (or made
available to the Investor by the filing by the Company of an electronic version thereof with the Commission).

 

4. The Company and the Investor agree
that at the Closing (as defined in Section 3.1 of Annex I), the Investor will purchase from the Company and the Company
will issue and sell to the Investor the Shares set forth below for the aggregate Purchase Price set forth below. The Shares shall
be purchased pursuant to the Terms and Conditions for Purchase of Securities attached hereto as Annex I and incorporated
herein by this reference as if fully set forth herein. The Investor acknowledges that the Offering is not being underwritten by
any underwriter, as disclosed in the Prospectus.

 

5. The manner of settlement of the Shares
purchased by the Investor shall be determined by such Investor as follows (check one):

 

	[    ]	A. Delivery by crediting the account of the Investor’s prime broker (as specified by such Investor on Exhibit A annexed hereto) with the Depository Trust Company (“DTC”) through its Deposit/Withdrawal At Custodian (“DWAC”) system, whereby Investor’s prime broker shall initiate a DWAC transaction on the Closing Date using its DTC participant identification number, and released by DTC, the Company’s transfer agent (the “Transfer Agent”), at the Company’s direction. NO LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL: 

 

	 	(I)	DIRECT THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DWAC INSTRUCTING THE TRANSFER AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES, AND 

 

	 	(II)	REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE SHARES BEING PURCHASED BY THE INVESTOR TO THE FOLLOWING ACCOUNT: 

 

 

    	  

    	 

    

 

 

Bank Name:   

ABA Number:                         

A/C Name:     

A/C Number:                       

FBO: Investor Name:                                          
               

Social Security Number or

Employer Identification Number:                                         

 

—OR—

 

	[    ]	
        B. Delivery versus payment (“DVP”)
        through DTC (i.e., on the Closing Date, the Company shall issue Shares registered in the Investor’s name and address as set
        forth below and released by the Transfer Agent directly to the account(s) identified by the Investor; upon receipt of such Shares.

         

        NO LATER THAN ONE (1) BUSINESS DAY
        AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL:

 

	 	(I)	NOTIFY AGENT OF THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES BEING PURCHASED BY SUCH INVESTOR, AND 

 

	 	(II)	CONFIRM THAT THE ACCOUNT TO BE CREDITED WITH THE SHARES BEING PURCHASED BY THE INVESTOR HAVE A MINIMUM BALANCE EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE SHARES BEING PURCHASED BY THE INVESTOR. 

 

IT IS THE INVESTOR’S RESPONSIBILITY
TO (A) MAKE THE NECESSARY WIRE TRANSFER OR CONFIRM THE PROPER ACCOUNT BALANCE IN A TIMELY MANNER AND (B) ARRANGE FOR
SETTLEMENT BY WAY OF DWAC OR DVP IN A TIMELY MANNER. IF THE INVESTOR DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE FOR THE SHARES
OR DOES NOT MAKE PROPER ARRANGEMENTS FOR SETTLEMENT IN A TIMELY MANNER, THE SHARES MAY NOT BE DELIVERED AT CLOSING TO THE INVESTOR
OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING ALTOGETHER.

 

6. The Investor represents that, except
as set forth below, (a) it has had no position, office or other material relationship within the past three years with the
Company or persons known to it to be affiliates of the Company, (b) it is not a member of the Financial Industry Regulatory
Authority, Inc. (“FINRA”) or an Associated Person (as such term is defined under the FINRA’s NASD Membership
and Registration Rules Section 1011) as of the Closing, and (c) neither the Investor nor any group of Investors (as identified
in a public filing made with the Commission) of which the Investor is a part in connection with the Offering, acquired, or obtained
the right to acquire, 20% or more of the Common Stock (or securities convertible into or exercisable for Common Stock) or the voting
power of the Company on a post-transaction basis. Exceptions:

 

(If no exceptions, write “none.”
If left blank, response will be deemed to be “none.”)

 

7. The Investor represents that it has
received (or otherwise had made available to it by the filing by the Company of an electronic version thereof with the Commission)
the Preliminary Prospectus which is a part of the Company’s Registration Statement, the documents incorporated by reference
therein and any free writing prospectus (collectively, the “Disclosure Package”), prior to or in connection
with the receipt of this Agreement. The Investor acknowledges that, prior to the delivery of this Agreement to the Company, the
Investor will receive certain additional information regarding the Offering, including pricing information (the “Offering
Information”). Such information may be provided to the Investor by any means permitted under the Securities Act, including
the Prospectus, a free writing prospectus and oral communications.

 

    	  

    	 

    

 

 

8. No offer by the Investor to buy Shares
will be accepted and no part of the Purchase Price will be delivered to the Company until the Investor has received the Offering
Information and the Company has accepted such offer by countersigning a copy of this Agreement, and any such offer may be withdrawn
or revoked, without obligation or commitment of any kind, at any time prior to the Company (or Agent on behalf of the Company)
sending (orally, in writing or by electronic mail) notice of its acceptance of such offer. An indication of interest will involve
no obligation or commitment of any kind until the Investor has been delivered the Offering Information and this Agreement is accepted
and countersigned by or on behalf of the Company.

 

	 	 	 	 	 
	Number of Shares:	 	 	 	 
	Purchase Price per Share:	 	
         

        $
	 	 
	Aggregate Purchase Price:	 	
         

        $
	 	 

 

Please confirm that the foregoing correctly
sets forth the agreement between us by signing in the space provided below for that purpose.

 

	 	 	 
	Dated as of:                     , 2020
	 
	 
	INVESTOR
	 	 
	By:	 	 
	Print Name:	 	 
	Title:	 	 
	Address:	 	 
	 	 	 
	 	 	 

Agreed and Accepted this             day
of                     2020:

 

	 	 	 
	MARIJUANA COMPANY OF AMERICA, INC.
	 	 
	By:    	 	 
	 	 	Name:
	 	 	Title:

 

 

    	  

    	 

    

 

ANNEX I

 

TERMS AND CONDITIONS FOR PURCHASE OF
SECURITIES

 

1. Authorization and Sale of the Shares.
Subject to the terms and conditions of this Agreement, the Company has authorized the sale of the Shares.

 

2. Agreement to Sell and Purchase the
Shares.

 

2.1 At the Closing (as defined in Section 3.1),
the Company will sell to the Investor, and the Investor will purchase from the Company, upon the terms and conditions set forth
herein, the number of Shares set forth on the last page of the Agreement to which these Terms and Conditions for Purchase of Securities
are attached as Annex I (the “Signature Page”) for the aggregate purchase price therefor set forth on
the Signature Page.

 

2.2 The Company proposes to enter into
substantially this same form of Subscription Agreement with certain other investors (the “Other Investors”)
and expects to complete sales of Shares to them. The Investor and the Other Investors are hereinafter sometimes collectively referred
to as the “Investors,” and this Agreement and the Subscription Agreements executed by the Other Investors are hereinafter
sometimes collectively referred to as the “Agreements.”

 

3. Closings and Delivery of the Securities
and Funds.

 

3.1 Closing. The completion
of the purchase and sale of the Shares (the “Closing”) shall occur at a place and time (the “Closing
Date”) to be specified by the Company and the Investors At the Closing, (a) the Company shall cause the Company’s
Transfer Agent to deliver to the Investor the number of Shares purchased by the Investor as set forth on the Signature Page registered
in the name of the Investor or, if so indicated on the Investor Questionnaire attached hereto as Exhibit A, in the name
of a nominee designated by the Investor, and (b) the aggregate purchase price for the Shares being purchased by the Investor
will be delivered by or on behalf of the Investor to the Company.

 

3.2 Conditions to the Obligations of
the Parties.

 

(a) Conditions to the Company’s
Obligations. The Company’s obligation to issue and sell the Shares to the Investor shall be subject to: (i) the
receipt by the Company of the purchase price for the Shares being purchased hereunder as set forth on the Signature Page and (ii) the
accuracy of the representations and warranties made by the Investor and the fulfillment of those undertakings of the Investor to
be fulfilled prior to the Closing Date, all as set forth in this Annex I and in the Subscription Agreement to which it is
attached.

 

(b) Conditions to the Investor’s
Obligations. The Investor’s obligation to purchase the Shares will be subject to the accuracy of the representations
and warranties made by the Company and the fulfillment of those undertakings of the Company to be fulfilled prior to the Closing
Date. The Investor’s obligations are expressly not conditioned on the purchase by any Other Investor of the Shares that such
Other Investor has agreed to purchase from the Company, but are explicitly conditioned on the purchase by Investors and sale by
the Company of not less than             Shares in the offering.

 

3.3 Delivery of Funds.

 

(a) DWAC Delivery. If the Investor
elects to settle the Shares purchased by such Investor through DTC’s Deposit/Withdrawal at Custodian (“DWAC”)
delivery system, no later than one (1) business day after the execution of this Agreement by the Investor and the Company,
the Investor shall remit by wire transfer the amount of funds equal to the aggregate purchase price for the Shares being purchased
by the Investor to the following Escrow Account designated by the Company:

 

    	  

    	 

    

 

 

Bank Name:

ABA Number:

A/C Name:

A/C Number:

FBO: Investor Name:                                          
       

Social Security Number or

Employer Identification Number:                              

 

3.4 Delivery of Shares.

 

(a) DWAC Delivery. If the Investor
elects to settle the Shares purchased by such Investor through DTC’s DWAC delivery system, no later than one (1) business
day after the execution of this Agreement by the Investor and the Company, the Investor shall direct the broker-dealer
at which the account or accounts to be credited with the Shares being purchased by such Investor are maintained, which broker/dealer
shall be a DTC participant, to set up a DWAC instructing the Transfer Agent to credit such account or accounts with the Shares.
Such DWAC instruction shall indicate the settlement date for the deposit of the Shares. Upon the closing of the Offering, the Company
shall direct the Transfer Agent to credit the Investor’s account or accounts with the Shares pursuant to the information
contained in the DWAC.

 

(b) Delivery Versus Payment through
The Depository Trust Company. If the Investor elects to settle the Shares purchased by such Investor by delivery versus payment
through DTC, no later than one (1) business day after the execution of this Agreement by the Investor and the Company,
the Investor shall notify the Company of the account to be credited with the Shares being purchased by such Investor. On the Closing
Date, the Company shall deliver the Shares to the Investor through DTC directly to the account(s) identified by Investor.

 

4. Representations, Warranties and
Covenants of the Investor.

The Investor acknowledges, represents
and warrants to, and agrees with, the Company that:

 

4.1 The Investor (a) has answered
all questions in this Subscription Agreement, including this Annex I and the Investor Questionnaire in Exhibit A,
and the answers thereto are true and correct as of the date hereof and will be true and correct as of the Closing Date and (b) in
connection with its decision to purchase the Shares set forth in the Subscription Agreement, has received and is relying only upon
the Disclosure Package and the documents incorporated by reference therein and the Offering Information.

 

4.2(a) No action has been or will be taken
in any jurisdiction outside the United States by the Company that would permit an offering of the Shares, or possession or distribution
of offering materials in connection with the issue of the Shares in any jurisdiction outside the United States where action for
that purpose is required, (b) if the Investor is outside the United States, it will comply with all applicable laws and regulations
in each foreign jurisdiction in which it purchases, offers, sells or delivers Shares or has in its possession or distributes any
offering material, in all cases at its own expense.

 

4.3(a) The Investor has full right, power,
authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby and has taken all necessary
action to authorize the execution, delivery and performance of this Agreement, and (b) this Agreement constitutes a valid
and binding obligation of the Investor enforceable against the Investor in accordance with its terms, except as enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and
contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law) and except as to the enforceability of any rights
to indemnification or contribution that may violate the public policy underlying any law, rule or regulation (including any federal
or state securities law, rule or regulation).

 

    	  

    	 

    

 

 

4.4 The Investor understands that nothing
in this Agreement, the Preliminary Prospectus, the Disclosure Package, the Offering Information, the Prospectus or any other materials
presented to the Investor in connection with the purchase and sale of the Shares constitutes legal, tax or investment advice. The
Investor has consulted such legal, tax and investment advisors and made such investigation as it, in its sole discretion, has deemed
necessary or appropriate in connection with its purchase of Shares.

 

5. Survival of Representations, Warranties
and Agreements; Third Party Beneficiary. Notwithstanding any investigation made by any party to this Agreement, all covenants,
agreements, representations and warranties made by the Company and the Investor herein will survive the execution of this Agreement,
the delivery to the Investor of the Shares and the payment therefor.

 

6. Notices. All notices, requests,
consents and other communications hereunder will be in writing, will be mailed (a) if within the domestic United States by
first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, or by facsimile
or (b) if delivered from outside the United States, by International Federal Express or facsimile, and will be deemed given
(i) if delivered by first-class registered or certified mail domestic, three business days after so mailed, (ii) if delivered
by nationally recognized overnight carrier, one business day after so mailed, (iii) if delivered by International Federal
Express, two business days after so mailed, and (iv) if delivered by facsimile, upon electronic confirmation of receipt and
will be delivered and addressed as follows:

 

(a) if to the Company, to:

 

Marijuana Company of America,
Inc.

Attention: Jesus Quintero

1340 West Valley Parkway, Suite
205

Escondido, CA 92029

Telephone: (888) 777-4362

 

(b) if to the Investor, at its address
on the Signature Page hereto, or at such other address or addresses as may have been furnished to the Company in writing.

 

7. Changes. This Agreement may
not be modified or amended except pursuant to an instrument in writing signed by the Company and the Investor.

 

8. Headings. The headings of the
various sections of this Agreement have been inserted for convenience of reference only and will not be deemed to be part of this
Agreement.

 

9. Severability. In case any provision
contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability
of the remaining provisions contained herein will not in any way be affected or impaired thereby.

 

10. Governing Law. This Agreement
will be governed by, and construed in accordance with, the internal laws of the State of Utah, without giving effect to the principles
of conflicts of law that would require the application of the laws of any other jurisdiction.

 

11. Counterparts. This Agreement
may be executed in two or more counterparts, each of which will constitute an original, but all of which, when taken together,
will constitute but one instrument, and will become effective when one or more counterparts have been signed by each party hereto
and delivered to the other parties. The Company and the Investor acknowledge and agree that the Company shall deliver its counterpart
to the Investor along with the Prospectus (or the filing by the Company of an electronic version thereof with the Commission).

 

12. Confirmation of Sale. The Investor
acknowledges and agrees that such Investor’s receipt of the Company’s signed counterpart to this Agreement, together
with the Prospectus (or the filing by the Company of an electronic version thereof with the Commission), shall constitute written
confirmation of the Company’s sale of the Shares to such Investor.

  

 

    	  

    	 

    

 

 

EXHIBIT A

 

MARIJUANA COMPANY OF AMERICA, INC.

INVESTOR QUESTIONNAIRE

 

Pursuant to Section 3 of Annex
I to the Agreement, please provide us with the following information:

 

	 	 	 	 	 
	1.	 	The exact name that your Shares are to be registered in. You may use a nominee name if appropriate:	 	 
	 	 	 
	2.	 	The relationship between the Investor and the registered holder listed in response to item 1 above:	 	 
	 	 	 
	3.	 	The mailing address of the registered holder listed in response to item 1 above:	 	 
	 	 	 
	4.	 	The Social Security Number or Tax Identification Number of the registered holder listed in the response to item 1 above:	 	 
	 	 	 
	5.	 	Name of DTC Participant (broker-dealer at which the account or accounts to be credited with the Shares are maintained):	 	 
	 	 	 
	6.	 	DTC Participant Number:	 	 
	 	 	 
	7.	 	Name of Account at DTC Participant being credited with the Shares:	 	 
	 	 	 
	8.	 	Account Number at DTC Participant being credited with the Shares:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]