Document:

Exhibit
10.29 

 

THIS
NOTE HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT’), AND, ACCORDINGLY, MAY NOT
BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS.

 

	No.
    2020-001	U.S.
    $767,288
	 	Original
    Issue Date: November 1, 2020

 

6%
UNSECURED PROMISSORY NOTE

DUE DECEMBER 31, 2025

 

This
NOTE is a duly authorized Note of Vitro Biopharma, Inc., a Nevada corporation (the “Company”), designated as
its 6% Unsecured Promissory Note (the “Note”) due on December 31, 2025 (the “Maturity Date”).

 

This
NOTE is made to evidence the obligation of the Company to pay to Holder accrued and unpaid interest at October 31, 2020 on advances made
by Holder to the Company. The liability of the Company to Holder for accrued and unpaid interest shall be deemed merged into this Note
and shall hereafter not constitute a separate obligation of the Company.

 

FOR
VALUE RECEIVED, the Company promises to pay to James Musick, the registered holder hereof (the “Holder”), the principal
sum of Seven Hundred Thirty Two Thousand Two Hundred Eighty Eight and 00/100 Dollars (US $732,288) and to pay interest on the principal
sum outstanding from time to time at the rate of 6% per annum, calculated from the date of initial issuance of this Note (the “Issue
Date”).

 

It
is a condition precedent (“Conditions”) to the Company’s obligation to pay this Note, principal and accrued interest,
that the Company has paid in full or otherwise retired its obligations under (i) the Company’s Series 2018 10% Senior Secured Promissory
Notes, (ii) the Company’s Series A Convertible Preferred Stock and (iii) the Company’s Series B Convertible Preferred Stock
(if issued). If the Conditions have not been satisfied on or before the Maturity Date, the Maturity Date shall be automatically extended,

without
further action or writing, to a date that is 60 days following the satisfaction of the Conditions.

 

The
Company shall pay all accrued and unpaid interest, and shall pay the outstanding principal balance hereof on the earlier of (i) the Early
Redemption Date or (ii) the Maturity Date.

 

This
Note is also being issued pursuant to the terms of the Subscription Agreement (the “Subscription Agreement”), to which the
Company and the Holder (or the Holder’s predecessor in interest) are parties. Capitalized terms not otherwise defined herein shall
have the meanings ascribed to them in the Subscription Agreement.

 

This
Note is subject to the following additional provisions.

 

Section
1. No Collateral. This Note is unsecured.

 

Section
2, No Sale or Transfer, This Note may not be sold, transferred, assigned, hypothecated or divided into two or more Notes of
smaller denominations except to the extent such sale, transfer, assignment, hypothecation Or division is in compliance with federal and
applicable state securities laws, the compliance with which must be established to the reasonable satisfaction of the Company.

 

    	 

    	 

    

 

Section
3. No Limitations on Debt. The existence of this Note does not preclude the Company from incurring other indebtedness.

 

Section
4. Provisions Regarding Payment of Interest. Interest hereunder will be paid to the Holder, calculated from the date of initial
issuance of this Note (the “Issue Date”) and payable, if not paid previously, at the Maturity Date.

 

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

 

(i)
Any default in the payment of the principal of or interest on this Note as and when the same shall become due and payable after thirty
(30) days’ written notice of default, (whether on the Maturity Date or by acceleration or otherwise);

 

(ii)
The Company shall fail to observe or perform any other covenant, agreement or warranty contained in, or otherwise commit any breach of
this Note or and such failure or breach shall not have been remedied within 30 days after the date on which notice of such failure or
breach shall have been given;

 

(iii)
The Company shall commence a voluntary case under the United States Bankruptcy Code or insolvency laws as now or hereafter in effect
or any successor thereto (the “Bankruptcy Code”); or an involuntary case is commenced against the Company under the
Bankruptcy Code and the petition is not controverted within 30 days, or is not dismissed within 60 days, after commencement of such involuntary
case; or a “custodian” (as defined in the Bankruptcy Code) is appointed for, or takes charge of, all or any substantial part
of the property of the Company or the Company commences any other proceeding under any reorganization, arrangement, adjustment of debt,
relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating
to the Company or there is commenced against the Company any such proceeding which remains undismissed for a period of 60 days; or the
Company is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered;
or the Company suffers any appointment of any custodian or the like for it or any substantial part of its property which continues
undischarged or unstayed for a period of 60 days; or the Company makes a general assignment for the benefit of creditors; or the Company
shall fail to pay, or shall state that it is unable to pay its debts generally as they become due; or the Company shall call a meeting
of all of its creditors with a view to arranging a composition 01; adjustment of it debts; Or the Company shall by any act or failure
to act indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is taken by the
Company for the purpose of effecting any of the foregoing.

 

(b)
Remedies. The Holder may declare a default under Section 5(a)(i) upon not less than 30 days’ written notice to the Company.
If the Company fails to cure an Event of Default within such period (or if the cure cannot be reasonably completed within such period,
commence the cure of the Event of Default and diligently pursue such cure), then the principal amount hereof together with all accrued
and unpaid interest up to the date of default shall thereafter accrue interest at the default interest rate of 8% per annum and the Holder
may:

 

(i)
Declare all amounts due under the Note immediately due and owing and exercise all rights with respect thereto permitted by law;

 

(ii)
Apply to a court that has jurisdiction over the Company for the appointment of a receive to manage the assets and operations of the Company;

 

(iii)
Assert any other remedy available at law or in equity.

 

    	 

    	 

    

 

Section
6. Intentionally Omitted

 

Section
7. Definitions. For the purpose hereof, the following terms shall have the following meanings:

 

“Business
Day” means any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions
in the state of Colorado are authorized or required by law or other government action to close,

 

“Company”
means Vitro Biopharma, a Nevada corporation.

 

“Holder”
means any Person who is a registered holder of this Note as listed in the books of the Company.

 

“Material
Adverse Effect” means u material adverse effect upon the business, operations, properties, assets, or condition (financial
or otherwise) of the Company taken as a whole.

 

“Maturity
Date” means the date defined in the first paragraph or (if earlier) the date of any

prepayment
or acceleration.

 

“Original
Issue Date” shall mean the date this Not is purchased by the initial holder.

 

“Person”
means a corporation, an association, a partnership, organization, a business, an individual, a government or political subdivision thereof
or a governmental agency.

 

Section
8., Intentionally Omitted

 

Section
9. No Impairment. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation
of the Company, which is absolute;, and unconditional, to pay the principal of: and interest on, this Note at the time, place, and rate,
and in the Coin or currency, herein prescribed. This Note is a direct obligation of the Company.

 

Section
10. No Rights as a Shareholder. This Note shall not entitle the Holder to any of the rights of a shareholder of the Company,
including without limitation, the right to vote, to receive dividends and other distributions, or to receive any notice of, or to attend,
meetings of shareholders or any other proceedings.

 

Section
11. No recourse shall be had for the payment of the principal of, or the interest on, this Note, or for any claim based hereon, or
otherwise in respect hereof, against any incorporator, member, shareholder, manager, officer or director, as such, past, present or future·,
of the Company or any successor entity, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment
or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly
waived and released.

 

Section
12. All payments contemplated hereby to be made “in cash” shall be made in immediately available good funds of
United States of America currency by wire transfer to an account designated in writing by the Holder to the Company (which account may
be changed by notice similarity given). All payments of cash and each delivery of shares of Common Stock issuable to the Holder as contemplated
hereby shall be made to the Holder at the address last & appearing on the Note Register of the Company as designated in writing by
the Holder from time to time; except that the Holder can designate, by notice to the Company, a different delivery address for any one
or more specific payments or deliveries.

 

    	 

    	 

    

 

Section
13. The Holder of the Note, by acceptance hereof, agrees that this Note is being acquired for investment and that such Holder will
not offer, sell or otherwise dispose of this Note except under circumstances which will not result in a violation of the Act or any applicable
state Blue Sky or foreign laws or similar laws relating to the sale of securities.

 

Section
14. The Notes will initially be issued in denominations determined by the Company, but are exchangeable for an equal aggregate principal
amount of Notes of different denominations, as requested by the Holder surrendering the same. No service charge will be made for such
registration or transfer or exchange.

 

Section
15. The Company shall be entitled to withhold from all payments of principal of, and interest on, this Note any amounts required
to be withheld under the applicable provisions of the United States income tax laws or other applicable laws at the time of such payments,
and Holder shall execute and deliver all required documentation in connection therewith.

 

Section
16 This Note has been issued subject to investment representations of the original purchaser hereof and may be transferred or exchanged
only in compliance with the Securities Act of 1933, as amended (the “Act”), and other applicable state and foreign securities
laws and the terms of the Subscription Agreement. In the event of any proposed transfer of this Note, the Company may require, prior
to issuance of a new Note in the name of such other person, that it receive reasonable transfer documentation that is sufficient to evidence
that such proposed transfer complies with the Act and other applicable state and foreign securities laws and the terms of the Subscription
Agreement. Prior to due presentment for transfer of this Note, the Company and any agent of the Company may treat the person in whose
name this Note is duly registered on the Company’s Note Register as the owner hereof for the purpose of receiving payment as herein
provided and for all other purposes, whether or not this Note be overdue, and neither the Company nor any such agent shall be affected
by notice to the contrary.

 

Section
17. Mutilated, Lost or Stolen Notes. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute
and deliver, in exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost,
stolen or destroyed Note, a new Note for the principal amount of this Note so mutilated, lost, stolen or destroyed but only upon receipt
of evidence of such loss, theft or destruction of such Note, and of the ownership hereof, and adequate indemnity, if requested, all reasonably
satisfactory to the Company.

 

Section
18. Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Colorado. Each
of the parties consents to the exclusive jurisdiction of the federal courts whose districts encompass any part of Denver, Colorado, or
the state courts of the State of Colorado in connection with any dispute arising under this Agreement and hereby waives, to the maximum
extent permitted by law, any objection, including any objection based on forum non coveniens, to the bringing of any such proceeding
in such jurisdictions. To the extent determined by such court, the Company shall reimburse the Holder for any reasonable legal fees and
disbursements incurred by the Holder in enforcement of or protection of any of its rights under any of this Note.

 

Section
19.: Waiver of Jury Trial; No Other Waivers. The Company and the Holder hereby waive the right to a trial by jury in any action,
proceeding or counterclaim in respect of any matter arising out or in connection with this Note. Any waiver by the Company or the Holder
of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or
of any breach of any other provision of this Note. The failure of the Company or the Holder to insist upon strict adherence to any term
of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict
adherence to that term or any other term of this Note. Any waiver must be in writing.

 

Section
20. Severability. If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain
in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons
and circumstances.

 

Section
21. Obligations Due on a Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than
a Business Day, such payment shall be made on the next succeeding Business Day (or, if such next succeeding Business Day falls in the
next calendar month, the preceding Business Day in the appropriate calendar month).

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed by an officer duly authorized for such purpose, as
of the date first above indicated.

 

	 	Vitro
    BioPharma, Inc;.
	 	 	 
	 	By:	/s/
    John R. Evans
	 	Name: 	John
    Evans
	 	Title:	Director
    & CFO

 

Accepted
this 1 day of Nov 2020 by the undersigned, thereunto duly authorized, in accordance with the
terms stated herein and the Subscript ion Agreement pursuant to which the undersigned acquired this Note.

 

	Name
    of Holder: 	Jim
    Musick	 

	By:	/s/
    Jim Musick	 
	Tax
    Identification Number. SS. [***] 	 

 

    	 

    	 

    

 

SUBSCRIPTION
AGREEMENT

 

Vitro
Biopharma, Inc. (the “Company”)

 

Gentlemen:

 

l.
The undersigned hereby accepts the issuance of a 6% Unsecured Convertible Promissory Note in the principal amount of $767,288 (hereafter
the “Securities”) to evidence the indebtedness of the Company to the undersigned for accrued but unpaid compensation owed
to the undersigned (“Investor” ), 

 

2.
The representations and agreements confined hereby are made for the purpose of the Company’s reliance in connection with an unregistered
sale of the Note of the Company as hereinafter set forth.

 

3.
The undersigned, by reason of his knowledge and experience in financial and business matters, believes himself capable of evaluating
the merits and risks of this investment.

 

4.
In connection therewith, Investor represents and warrants his understanding that this investment is extremely speculative and subject
to a high degree of risk. Investor further understands that because of the speculative nature of this investment, he may lose the entire
investment and Investor represents that he has the economic wherewithal to absorb a total loss of this investment,

 

5.
The undersigned acknowledges receipt of such information as he deems necessary or appropriate as a prudent and knowledgeable investor
in evaluating the purchase or acquisition of the Note. The undersigned acknowledges that the Company has made available to him
the opportunity to obtain additional information to evaluate the merits and risks of this investment. The undersigned acknowledges that
he had the opportunity to ask questions of the Company, and, to the extent he availed himself of such opportunity, he received satisfactory
answers from the Company, or its affiliates, associates, or employees concerning the terms and conditions of the offering.

 

6.
Based upon the foregoing, Investor acknowledges the risk and highly speculative aspect of the Note he is acquiring in the Company, he
is familiar with the management, contemplated operations, financial conditions all other factors regarding the Company, and has fully
satisfied himself with respect to the nature of the investment, and has received no assurances of any kind whatsoever relative thereto,
nor have there been any other representations made by the Company or any of its principals or affiliates regarding any potential incremental
in value of the Company’s stock acquired by Investor,

 

7.
The undersigned hereby represents, warrants and agree that he is acquiring the Note solely for his own account, for investment, and not
with a view to the distribution or resale thereof, The undersigned further represents that his financial condition is such that he is
not under any present necessity or constraint to dispose of such Note to satisfy any existing or contemplated debt or undertaking.

 

    	 

    	 

    

 

8.
THE UNDERSIGNED IS AWARE OF THE FACT THAT THE NOTE HAS NOT BEEN REGISTERED NOR IS REGISTRATION CONTEMPLATED UNDER THE SECURITIES ACT
OF 1933 AND ACCORDINGLY, THAT SUCH NOTE MUST BE HELD INDEFINITELY UNLESS THEY ARE SUBSEQUENTLY REGISTERED UNDER SAID ACT OR UNLESS, IN
THE OPINION OF COUNSEL FOR THE COMPANY, A SALE OR TRANSFER MAY BE MADE WITHOUT REGISTRATION THEREUNDER. The undersigned agrees that any
certificate evidencing the Shares may bear a legend restricting the transfer thereof subject to the approval of the Company that the
transfer is lawful.

 

9,
Investor agrees that the Note being acquired will not be sold, transferred or assigned without a valid registration statement being in
effect, or in the opinion of counsel for the Company, pursuant to an exemption from registration.

 

10.
The undersigned understands that no federal or state agency has recommended or endorsed the purchase of the Note or passed on the adequacy
of the information provided by the Company.

 

11.
The undersigned acknowledges that neither the Company nor any person acting on behalf of the Company offered to sell him Note by means
of any form of general advertising, such as media advertising or seminars.

 

12,
The undersigned represents and warrants that the undersigned may come within at least one category marked below, and that for any category
marked the undersigned has truthfully set forth the factual basis or reason on the undersigned comes within that category. ALL INFORMATION
IN RESPONSE TO THIS PARAGRAPH WILL BE KEPT STRICTLY CONFIDENTIAL. The undersigned agrees to furnish any additional information which
the Company deems necessary in order to verify the answers set forth below. [Check One, if applicable]

 

	Category
    I	The
    undersigned is an individual (not a partnership, corporation, etc.) whose) individual net worth, or joint net worth with the undersigned’s
    spouse, presently exceeds $1,000,000.
	 	 
	 	Explanation.
    In calculation of net worth the Subscriber may include equity in personal property and real estate, cash, short term investments,
    stocks and securities. Equity in personal property and real estate should be based on the fair market value of such property less
    deb secured by such property.

 

Notwithstanding
the forgoing, in determining the Subscriber’s net worth: 

 

	 	(i)	the
    Subscriber’s primary residence shall be excluded
	 	(ii)	indebtedness
    secured by the primary residence, up to fair market value of the primary residents at the time of this subscription shall be excluded
    (except if the indebtedness outstanding on the date of this Subscription exceeds the amount outstanding 60 days before such time,
    the amount of such excess shall be included as a liability); and
	 	(iii)	indebtedness
    secured by the primary residence in excess of the fair market value of the primary residence at the time of this Subscription shall
    be included as a liability.

 

    	 

    	 

    

 

	Category
    II	The
    undersigned is an individual (not a partnership, corporation, etc.) who had an individual income in excess of $200,000 in
    the; past two years, or joint income with his/her spouse in excess of $300,000 in the past two years, and has a reasonable expectation
    of reaching the same income level in the current year.

 

	Category
    III	The
    undersigned is an executive officer or director of the Company.

 

	Category
    IV	The
    undersigned is a bank as defined in section 3(a)(2) of the Securities Act of 1933, as amended, (the “Act”);
    or a savings and loan institution or other institution defined in Section 3(a)(5)(A) of the Act.
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Category
    V	The
    undersigned is an insurance company, as defined in section 2(13) of the Securities Act of 1933, as amended.
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Category
    VI	The
    undersigned is an investment company registered under the Investment Company Act of 1940 or a business development company as defined
    in section 2(a)(48) of that Act.
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Category
    VII	The
    undersigned is a Small Business Investment Company licensed by the U.S. Small Business Administration under section 30l (c) or (d)
    of the Small Business Investment Act of 1958.
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

    	 

    	 

    

 

	Category
    VIII -	The
    undersigned is a broker or dealer registered pursuant to Section 15 of the Security Exchange Act of 1934 (the “Exchange Act”).
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Category
    IX	The
    undersigned is. an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974
    and (l) the decision to invest in the security was made by a plan fiduciary, as defined in section 3(21) of such Act, which is a
    bank, savings and loan association, insurance company or registered investment adviser, or (2) the employee benefit plan has total
    assets in excess of $5,000,000, or (3) if a self directed plan, with investment decisions made solely by persons that are
    accredited investors.
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Category
    X	The
    undersigned is & private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940.
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Category
    XI	The
    undersigned is an organization described in section 50l(c)(3) of the Internal Revenue
    Code, corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the
    securities offered, with total assets in excess of $5,000,000.
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

    	 

    	 

    

 

	Category
    XII	The
    undersigned is any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the
    securities offered, whose purchase is directed by a sophisticated person as described in Ru le 506(b)(2){ii) under the Act. [A
    COPY OF THE DECLARATION OF TRUST OR TRUST AGREEMENT AND A REPRESENTATION AS TO THE NET WORTH OR INCOME OF THE GRANTOR IS ENCLOSED]
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Category
    Xlll	The
    undersigned is an entity in which all of the equity owners are Accredited Investors. [IF RELYING UPON THIS CATEGORY ALONE, EACH
    EQUITY OWNER MUST COMPLETE A SEPARATE COPY OF THIS AGREEMENT]
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	(describe
    entity)

 

	Date:
    	1/11/2021	 
	 	 	 
	By:	/s/
    Jim Musick	 
	 	 	 
	Social
    Security or Tax I.D. NO.	 
	 	 	 
	Name:	(Registered
    owner of Note) Jim Musick	 
	 	 	 
	Address 	 	 

 

Accepted
this 1 day of Nov 2022 by the undersigned, thereunto duly authorized, in accordance with the term stated herein and the
Subscription Agreement pursuant to which the undersigned acquired this Note.

,

	Name
    of Holder:	Jim
    Musick	 

 

	By: 	/s/
    Jim Musick                                                            	
	 	 	 
	Tax
Identification Number: SS. _______________________Exhibit
10.30 

 

This
JOINT OPERATING AGREEMENT (the “Agreement”) is made on the 14th day of July, 2020 (the “Effective
Date”) and is entered into by and between:

 

	(1)	THE
    PARTNERS STEM CELL CENTRE (PSCC) LTD., (“PSCC”), located at 72-74 Collins Avenue, Nassau, The Bahamas,

 

AND

 

	(2)	VITRO
    DIAGNOSTICS, INC., D/B/A VITRO BIOPHARMA (“Vitro Biopharma”), located at 4621 Technology
    Drive, Golden, CO 80403, USA.

 

WHEREAS,
PSCC and Vitro Biopharma collaborated to obtain provisional approval by the National Stem Cell Ethics Committee (NSCEC) in the Commonwealth
of The Bahamas for a patient-sponsored clinical trial entitled “Vitro Biopharma Allogeneic Mesenchymal Stem Cell Therapy of Musculoskeletal
Conditions” to be conducted at PSCC, and

 

WHEREAS,
both parties to this Agreement desire to partner together to begin enrolling patients and completing the clinical trial protocol,
and

 

WHEREAS,
PSCC is located at The Medical Pavilion Bahamas, which is situated at 72-74 Collins Avenue, Nassau, The Bahamas.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto do hereby covenant and
agree as follows:

 

	 	1.	DELIVERABLES
    TO BE PROVIDED BY VITRO BIOPHARMA

 

For
the duration of this Agreement, Vitro Biopharma shall be responsible for the following deliverables (the “Vitro Biopharma Deliverables”):

 

	 	a.	AlloRxTM
    Stem Cells are umbilical cord derived MSCs produced by Vitro Biopharma’ s proprietary technology. AlloRxTM stem cells
    and the expansion medium used for cell culture, MSC-GroTM have been used in several clinical studies of osteoarthritis, neurodegenerative
    and autoimmune diseases including multiple sclerosis as detailed in the IRB Application to the NSCEC (Appendix A). Both manufacturing
    SOPs/SOis and quality control testing of AlloRxTM are described in the IRB application. These cells are produced in a highly
    regulated cGMP manufacturing facility at its corporate headquarters in Golden, CO. Vitro Biopharma is certified to ISO 9001 &
    ISO13485. Vitro Biopharma also operates a CUA-certified clinical diagnostic laboratory as well.
	 	 	 
	 	b.	Vitro
    Biopharma warrants its manufacturing to be in compliance with cGMP (Current Good Manufacturing Practices) ISO 9001 & ISO 13485
    Standards for the duration of this agreement and agrees to be audited by PSCC or designated representative on a pre-arranged inspection
    basis.

 

    	 

    	 

    

 

	 	c.	MSCs
    for use in “Vitro Biopharma Allogeneic Mesenchymal Stem Cell Therapy of Musculoskeletal Conditions” clinical trial. Vitro
    Biopharma is solely responsible for providing its AlloRxTM Stem Cells as needed to support the full execution of the above-referenced
    clinical trial. This supply provision includes FDA-compliant delivery of AlloRxTM Stem Cells to PSCC, transport of cells via
    liquid nitrogen dry shipper equipped with data logging capabilities, including live data acquisition, records retention, verification
    of receipt and proper storage. Onsite storage at PSCC will be in liquid nitrogen dewar vessels approved by Vitro Biopharma. Vitro
    Biopharma shall provide the on-site liquid nitrogen dewars and train PSCC personnel regarding storage, quality control and deployment
    procedures as may be needed to execute this clinical trial. Each new shipment of AlloRxTM Stem Cells shall include a COA document
    substantially as provided in Appendix B.
	 	 	 
	 	d.	Marketing
    Expenses. These are a responsibility of Vitro Biopharma.
	 	 	 
	 	e.	Clinical
    management of adverse events occurring greater than 72-hours following stem cell transplant.

 

	 	2.	DELIVERABLES
    TO BE PROVIDED BY PSCC

 

For
the duration of this Agreement, PSCC shall be responsible for the following deliverables (the “PSCC Deliverables”):

 

	 	a.	PSCC
    shall be responsible for management of all clinical aspects of the trial including execution of the informed consent document (See
    Appendix A), initial office visit to ensure compliance with acceptance/exclusion criteria and absence of contra-indications, deployment
    of stem cells through designated consultants qualified to perform intra-articular guided injections and other required cellular deployment
    procedures, follow-up procedures to assess injection-related adverse events within 72 hours of injection and appropriate clinical
    interventions.
	 	 	 
	 	b.	PSCC
    shall also perform lot specific QC testing and execution of protocols needed to assess storage and maintenance of cryogenic storage
    conditions that maintain AlloRxTM Stem Cell viability.
	 	 	 
	 	c.	PSCC
    will also execute protocols to prepare AlloRxTM Stem Cells for injection into patients based on training and consultation with
    Vitro Biopharma staff members.

 

	 	3.	JOINT
    RESPONSIBILITIES:

 

For
the duration of this Agreement, both PSCC and Vitro Biopharma shall be jointly responsible for ensuring that the following occurs:

 

	 	a. 	Submission
    of application materials to gain full IRB approval. Vitro Biopharma shall deliver the required documentation for final IRB approval
    in conjunction with PSCC.

 

    	 

    	 

    

 

	 	b.	Clinical
    Trial Management Services. PSCC and Vitro Biopharma will collaborate to achieve this task. Each partner will provide a respective
    designated project manager for this trial and arrange for necessary communication between project managers to ensure timely completion
    of required duties.
	 	 	 
	 	c.	Collaboration
    with Vitro Biopharma to assess patient safety and efficacy.
	 	 	 
	 	d.	Reporting
    Clinical Trial Results to the NSCEC.

 

	 	4.	FINANCIAL
    ASPECTS OF THE AGREEMENT:

 

	 	a.	Supply
    Of Materials: $1500 per patient per indication to Vitro Biopharma.
	 	 	 
	 	b.	Clinical
    Aspects of the Trial:

 

	 	1.	PSCC
    Fees & Consultation: $2,000 per patient per indication
	 	 	 
	 	11.	Deployment
    Fees & Consultation: See Appendix C hereto: $665 to $1,100 depending on exact nature of the deployment procedure including
    required injection guidance procedures, joint to be injected, etc. These fees will be shared between PSCC and deployment professionals,
    at the discretion of PSCC.
	 	 	 
	 	m.	PSCC
    Coordination And Oversight: $400/Patient/Indication/Session.
	 	 	 
	 	1v.	PSCC
    Use of Interventional Suite for Cases Requiring Fluoroscopy: $1,500/Patient/Hour Inclusive of Special Supportive Staff & Supplies.
	 	 	 
	 	v.	Consultation
    with In Sok Yi, MD. Vitro Biopharma shall assume this responsibility.

 

	 	c.	Marketing
    Costs: $2,000 per patient per indication to Vitro Biopharma.
	 	 	 
	 	d.	Trial
    Management Fees: $2,000 per patient per indication to Vitro Biopharma.
	 	 	 
	 	e.	Total
    General Costs for Patients: $8,500 to $9,000 depending on the deployment procedure, Not Inclusive Of Fluoroscopic Guidance Requiring
    Use of the Cath Lab Suite, as above at 4.b.iv.
	 	 	 
	 	f.	Finance
    Options: TBD.

 

	 	5.	TERM
    AND TERMINATION:

 

	 	a.	Term:
    The term of this agreement shall commence from the Effective Date and shall continue for a period of three years from such date.
    Thereafter, this agreement shall be renewed in successive three-year terms, unless otherwise terminated according to provision 5b.
    below.

 

    	 

    	 

    

 

	 	b.	Termination:
    This Agreement may be terminated by either party giving to the other party not less than thirty (30) days’ notice in writing
    (or such shorter notice as the parties may agree to accept); provided that either party may terminate this Agreement forthwith by
    notice taking immediate or subsequent effect if PSCC or Vitro Biopharma:

 

	 	1.	has
    committed a breach of any of the terms or conditions of this Agreement and the !RB-approved clinical trial (see Appendix A hereto)
    and where such breach is capable of remedy shall not have remedied such breach within thirty (30) days after service of notice by
    the other party requiring the same to be remedied;
	 	 	 
	 	11.	shall
    go into liquidation (except a voluntary liquidation for the purposes of reconstruction, amalgamation or merger on terms previously
    approved in writing by the other party) or have a receiver or its equivalent in any jurisdiction appointed over all or any of its
    assets;
	 	 	 
	 	iii.	completes
    a transaction that results in a change of its control.

 

For
the purposes hereof, a “change of control” shall mean a transaction which results in either

 

	 	1.	a
    sale of all or substantially all of its assets,
	 	11.	the
    sale of equity securities representing more than 50% of the total issued and outstanding equity securities of the relevant party
    or
	 	111.	any
    transaction or series of transactions which have the equivalent effect of any of the foregoing.

 

Termination
of this Agreement shall be without prejudice to any claims or rights which either of the parties hereto may have by reason of any breach
of the other party’s obligations and, without prejudice to the generality of the foregoing, any indemnity provisions and provisions
limiting the liabilities of either party shall survive termination of this Agreement.

 

	 	6.	CONFIDENTIALITY:

 

Both
parties have entered into a confidentiality agreement dated April 4, 2018 and intend that all provisions of this confidentiality agreement
remain in force, without modification, throughout the term of this agreement. Both parties reaffirm their commitment to jointly pursue
this agreement while maintaining and expanding their own intellectual property and business interests. The provisions of this clause
6 of this Agreement shall survive the termination of this Agreement.

 

    	 

    	 

    

 

	 	7.	ALTERATION
    OF THIS AGREEMENT:

 

This
Agreement may be altered, amended or restated by an agreement in writing signed by each party hereto. Such alterations, amendments or
restatements must be agreed to by both parties and are to be fully binding on the parties hereto.

 

	 	8.	REPRESENTATIONS
    AND WARRANTIES:

 

	 	a.	PSCC
    hereby represents and warrants to Vitro Biopharma as follows:

 

	 	1.	PSCC
    is duly incorporated and validly existing in good standing under the laws of The Bahamas and has power to carry on its business as
    it is now being conducted.
	 	 	 
	 	11.	PSCC
    has the requisite corporate power to execute deliver and perform its obligations hereunder and all necessary corporate and other
    action has been taken to authorize the execution delivery and performance of the same.
	 	 	 
	 	111.	PSCC
    is in possession of the required permits and licenses to provide the PSCC Deliverables in the manner contemplated by this Agreement.
	 	 	 
	 	1v.	This
    Agreement constitutes or will, when executed, constitute valid and legally binding obligations of PSCC, enforceable in accordance
    with its terms subject to bankruptcy, insolvency, liquidation, reorganization or other principles of general application affecting
    the rights of creditors and to general principles of equity.

 

	 	b.	Vitro
    Biopharma hereby represents and warrants to Vitro Biopharma as follows:

 

	 	1.	Vitro
    Biopharma is duly incorporated and validly existing in good standing under the laws of Colorado, one of the States of the United
    States of America, and has power to carry on its business as it is now being conducted.
	 	 	 
	 	11.	Vitro
    Biopharma has the requisite corporate power to execute deliver and perform its obligations hereunder and all necessary corporate
    and other action has been taken to authorize the execution delivery and performance of the same.
	 	 	 
	 	111.	Vitro
    Biopharma is in possession of the required permits and licenses to provide the Vitro Biopharma Deliverables in the manner contemplated
    by this Agreement.
	 	 	 
	 	1v.	This
    Agreement constitutes or will, when executed, constitute valid and legally binding obligations of Vitro Biopharma, enforceable in
    accordance with its terms subject to bankruptcy, insolvency, liquidation , reorganization or other principles of general application
    affecting the rights of creditors and to general principles of equity.

 

    	 

    	 

    

 

	 	9.	LIABILITY:

 

 EITHER
PARTY TO THIS AGREEMENT SHALL BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING
BUT OT LIMITED TO LOSS OF PROFITS OR REVENUES) RESULTING OR ARISING FROM ANY BREACH OF THIS AGREEMENT REGARDLESS OF WHETHER SUCH CLAIMS
FOR DAMAGES OR OTHER RELIEF IS BASED ON BREACH OF WARRANTY OR OTHER CONTRACT, NEGLIGENCE, STRICT LIABILITY, OR OTHER TORT, OR ANY OTHER
LEGAL OR EQUITABLE THEORY UNLESS SUCH BREACH IS DUE TO FRAUD, WlLLFUL DEFAULT OR GROSS NEGLIGENCE. 

 

	 	10.	CONFLICT
    RESOLUTION AND GOVERNING LAW:

 

	 	a.	This
    Agreement shall be governed by and construed in accordance with the laws of The Commonwealth of The Bahamas and the parties
	 	 	 
	 	b.	The
    parties hereto agree that any dispute will be exclusively resolved by arbitration in accordance with the United Nations Commission
    on International Trade Law (UNCITRAL) Arbitration Rules (the “Rules”) in force on the date when the notice
    of arbitration is submitted in accordance with such Rules. The seat of the arbitration will be Nassau, The Bahamas.

 

	 	11.	ENTIRE
    AGREEMENT

 

This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof.

 

	 	12.	FORCE
    MAJEURE:

 

	 	a.	The
    parties hereto shall not be responsible for the loss of or damage to any other party or property in the possession of such party
    or for any failure to fulfil its duties hereunder if such loss damage or failure is caused by or directly or indirectly due to war
    damage, enemy action, the act of any government or other competent authority, riot, civil commotion, rebellion, storm, tempest, accident,
    fire, lock-out, strike, failures of communication or power supply or other cause whether similar or not beyond the control of such
    party (each a “Force Majeure Event”) provided that the party shall use all reasonable efforts to minimize the
    effects of the same.
	 	 	 
	 	b.	If
    any party hereto is prevented, hindered or delayed from or in performing any of its obligations hereunder by a Force Majeure Event
    then:

 

	 	1.	that
    party’s obligations under this Agreement shall be suspended for so long as the Force Majeure Event continues and to the extent
    that party is so prevented, hindered or delayed (provided that, to the extent that any such action is practicable and not in any
    way prejudicial to such party such party shall use reasonable efforts to minimize the effect of any such Force Majeure Event);

 

    	 

    	 

    

 

	 	11.	as
    soon as reasonably practicable after commencement of the Force Majeure Event that party shall notify the other party in writing of
    the occurrence of the Force Majeure Event, the date of commencement of the Force Majeure Event and the effect of the Force Majeure
    Event on its ability to perform its obligations under this Agreement;
	 	 	 
	 	iii.	as
    soon as reasonably practicable after the cessation of the Force Majeure Event that party shall notify the other party hereto in writing
    of the cessation of the Force Majeure Event and shall resume performance of its obligations under this Agreement.

 

	 	c.	If
    the Force Majeure Event continues for more than thirty (30) days after the commencement of the Force Majeure Event, either party
    hereto may terminate this Agreement by giving not less than fifteen (15) days’ written notice to the other party.

 

	 	13.	NO
    LICENSE:

 

Nothing
within this agreement shall be considered a license or right to any property held by either party.

 

	 	14.	COUNTERPARTS

 

This
Agreement may be executed in any number of counterparts and by the parties hereto on separate counterparts, each of which when executed
and delivered shall constitute an original and all such counterparts together constituting but one and the same agreement.

 

	 	15.	SEVERANCE

 

If
any provision herein shall be determined to be void or unenforceable in whole or in part for any reason whatsoever, such invalidity or
unenforceability shall not affect the remaining provisions or any part thereof contained within this Agreement and such void or unenforceable
provisions shall be deemed to be severable from any other provision or part thereof herein contained.

 

	 	16.	NOTICES

 

Any
notice, instruction or other instrument required or permitted to be given hereunder may be delivered during normal business hours, by
hand delivery, facsimile transmission or email, to the parties at the following addresses or such other address as may be notified by
either party from time to time:

 

    	 

    	 

    

 

If
to PSCC:

 

The
Partners Stem Cell Centre Ltd.

72
- 74 Collins Avenue Nassau,

The Bahamas

Telephone: 1-242-502-9676

 

Attention:
Dr. Conville S. Brown

Email
Address: DrConvilleBrown@gmail.com OR ConvilleBrown@TMP-Bahamas.com

 

If
to Vitro Biopharma:

 

Vitro
Diagnostics, Inc. 4621 Technology Drive Golden,

CO 80403, USA.

Telephone:
1-303-550-2778

 

Attention:
Dr. Jim Musick, PhD.

Email
Address: Jim@vitrobiopharma.com

 

In
the absence of earlier receipt, any such notice, instruction or other instrument shall be deemed to have been served, in the case of
hand delivery, upon delivery, in the case of facsimile transmission, on completion of transmission when the sender receives confirmation
of transmission or if sent by email , when the dispatch of the e-mail is confirmed by appearing in the “Sent Items” mailbox
of the sender unless notice of failure to reach the recipient is received by the sender within twenty four (24) hours. However, a notice
given in accordance with the above but received on a non-working day or after business hours in the place of receipt will only be deemed
to be given on the next working day in that place. An automated response to a notice or document sent by e-mail indicating that the intended
recipient is out of office is to be treated as proof that the notice or document was not delivered.

 

[Remainder
of page intentionally left blank, signature page follows.]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Joint Operating Agreement for Operations of Vitro Biopharma and PSCC as of the
day and year first above written. The undersigned hereby warrant that they are authorized to bind their respective parties to the terms
and conditions specified herein.

 

	 	VITRO
    DIAGNOSTICS, INC.
	 	 	 
	 	By:	/s/
    James R. Musick
	 	Name:	Dr.
    James R. Musick, PhD.
	 	Title:	President
    and Chief Executive Officer
	 	 	 
	 	THE
    PARTNERS STEM CELL CENTRE LTD.
	 	 	 
	 	By:	/s/
    Conville S. Brown
	 	Name:	Dr.
    Conville S. Brown, MD.
	 	Title:	President
    and Chief Executive Officer

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