Document:

ctrc_Exhibit_10_2_10_03_2019

		

			Exhibit 10.2

		

		

			 

		

		

			EXECUTION VERSION

		

		

			 

		

		
			LETTER AGREEMENT AMENDMENT
		

		
			Reference is made to that certain Agreement (the “Original Agreement”), dated October 29, 2018, by and between Centric Brands Inc. (f/k/a Differential Brands Group, Inc.) (the “Company”) and the investors thereto (the “Investors”).    This amendment (the “Amendment”), dated October 3, 2019, by and among the Company and the Investors set forth below, amends and modifies the Original Agreement.  The Original Agreement, as amended and modified by this Amendment, is referred to as the “Agreement”.  Terms used but not otherwise defined herein shall have the meaning defined in the Original Agreement.    The Company and the Stockholder hereby represent and agree as follows:
		

			
	
			
				 1.
			

			
	
			
			The Investors collectively represent the Majority Investors as of the date hereof.

			
	
			
				 2.
			

			
	
			
			The third and fourth paragraphs of the Original Agreement are amended and restated as follows:

		
			“The Company agrees that out of the Company’s existing 2016 Stock Incentive Compensation Plan (the “2016 Plan”) 1,776,500 shares of Common Stock (the “Special Committee Grants”) will be allocated by a Special Committee (as defined in the Stockholders Agreement, dated as of October 29, 2018, by and among the Company, the Investors and the other stockholders party thereto) in accordance with such Stockholders Agreement.
		

		
			In the event any shares of the Special Committee Grants eligible to be awarded under the 2016 Plan (a) are not allocated by the Special Committee on or before October 29, 2019, or (b) if awarded, are forfeited or cancelled or if an award from the Special Committee Grants terminates or expires without a distribution of the underlying shares of the Special Committee Grants to the applicable participant (including as a result of any net withholding for taxes and exercise price), the shares with respect to such award shall, to the extent of any such forfeiture or cancellation, termination or expiration, be removed from the aggregate amount of the Special Committee Grants and shall instead be delivered to the Investors (pro rata in accordance with their holdings of Shares as of the date of the Original Agreement) on October 29, 2020 or, if such forfeiture, cancellation, termination or expiration occurs after such date, on October 29, 2021; provided that either of such dates for delivery shall be extended automatically as to any Investor upon notice from such Investor that an extension is necessary so that no disposition by such Investor for purposes of Section 16 of the Securities Exchange Act of 1934 shall have occurred within the six (6) months immediately preceding such date for delivery.”
		

			
	
			
				 3.
			

			
	
			
			Except as set forth above, this Amendment does not change or modify the Original Agreement and all provisions of the Original Agreement apply to this Amendment as if set forth herein.

		
			 
		

		
			 
		

		

		 

		

			 

		

	
					
						

					
						 

					
					
						 

				
	
					
						ACCEPTED AND AGREED:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						CENTRIC BRANDS INC.,
a Delaware corporation

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By: 

					
					
						/s/ Andrew Tarshis

					
					
						 

				
	
					
						Name:

					
					
						Andrew Tarshis

					
					
						 

				
	
					
						Title:

					
					
						EVP, General Counsel

					
					
						 

				

		
			 
		

		
			
		

		

		 

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						GSO Capital Opportunities Fund III LP

					
					
						 

				
	
					
						By: GSO Capital Opportunities Associates III LLC,
its general partner

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Marisa J. Beeney

					
					
						 

				
	
					
						Name:

					
					
						Marisa J. Beeney

					
					
						 

				
	
					
						Title:

					
					
						Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						GSO CSF III Holdco LP 

					
					
						 

				
	
					
						By: GSO Capital Solutions Associates III LP, its general partner

				
	
					
						By: GSO Capital Solutions Associates III (Delaware) LLC, its general partner

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Marisa J. Beeney

					
					
						 

				
	
					
						Name:

					
					
						Marisa J. Beeney

					
					
						 

				
	
					
						Title:

					
					
						Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						GSO Aiguille des Grands Montets Fund II LP

					
					
						 

				
	
					
						By: GSO Capital Partners LP, as attorney-in-fact

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Marisa J. Beeney

					
					
						 

				
	
					
						Name:

					
					
						Marisa J. Beeney

					
					
						 

				
	
					
						Title:

					
					
						Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						GSO Credit Alpha II Trading (Cayman) LP

					
					
						 

				
	
					
						By: GSO Credit Alpha Associates II LP, its general partner

				
	
					
						By: GSO Credit Alpha Associates II (Delaware) LLC, its general partner

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Marisa J. Beeney

					
					
						 

				
	
					
						Name:

					
					
						Marisa J. Beeney

					
					
						 

				
	
					
						Title:

					
					
						Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						GSO Harrington Credit Alpha Fund (Cayman) L.P.

				
	
					
						By: GSO Harrington Credit Alpha Associates L.L.C., its general partner

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Marisa J. Beeney

					
					
						 

				
	
					
						Name:

					
					
						Marisa J. Beeney

					
					
						 

				
	
					
						Title:

					
					
						Authorized Signatory

					
					
						 

				

		
			 
		

		
			
		

		

		 

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						BTO LEGEND HOLDINGS L.P.

					
					
						 

				
	
					
						By: BTO Holdings Manager L.L.C., its General Partner

				
	
					
						By: Blackstone Tactical Opportunities Associates L.L.C., its Managing Member

				
	
					
						By:  BTOA L.L.C., its Sole Member

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Christopher J. James

					
					
						 

				
	
					
						Name:

					
					
						Christopher J. James

					
					
						 

				
	
					
						Title:

					
					
						Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						BLACKSTONE FAMILY TACTICAL OPPORTUNITIES

				
	
					
						INVESTMENT PARTNERSHIP III (Cayman) – NQ – ESC L.P.

				
	
					
						By: BTO GP – NQ L.L.C., its General Partner

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Christopher J. James

					
					
						 

				
	
					
						Name:

					
					
						Christopher J. James

					
					
						 

				
	
					
						Title:

					
					
						Authorized SignatoryPROPANC
BIOPHARMA INC.

8%
CONVERTIBLE REDEEMABLE PROMISSORY NOTE

 

	Effective
    Date October 1, 2019	US
    $131,000.00 

 

Due
October 1, 2020

 

THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

FOR
VALUE RECEIVED Propanc Biopharma Inc. (the “Company”) promises to pay to the order of [●],
and its authorized successors and permitted assigns (“Holder”), the aggregate principal face amount of One
Hundred Thirty-One Thousand Dollars exactly (U.S. $131,000.00) on October 1, 2020 (“Maturity Date”). The Company
will pay interest on the principal amount outstanding at the rate of 8% per annum, which will commence on October 1, 2019. The
interest will be paid to the Holder in whose name this Note is registered on the records of the Company regarding registration
and transfers of this Note. The principal of, and interest on, this Note are payable at 137 Montague Street, Suite 291, Brooklyn,
NY 11201, initially, and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof
from time to time. The Company will pay each interest payment and the outstanding principal due upon this Note before or on the
Maturity Date, less any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer
addressed to such Holder at the last address appearing on the records of the Company. The forwarding of such check or wire transfer
shall constitute a payment of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this
Note to the extent of the sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined
below) pursuant to paragraph 4(b) herein.

 

This
Note is subject to the following additional provisions:

 

1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as
requested by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange,
except that Holder shall pay any tax or other governmental charges payable in connection therewith.

 

2.
Under all applicable laws, the Company shall be entitled to withhold any amounts from all payments it is entitled
to.

 

    	 	 	 

    	 

    

 

3.
This Note may only be transferred or exchanged in compliance with the Securities Act of 1933, as amended
(“Act”) and any applicable state securities laws. All attempts transfer to a non-qualifying party shall be
treated by the Company as void. 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 records as the owner hereof for all
other purposes, whether or not this Note be overdue, and neither the Company nor any such agent shall be affected or bound by
notice to the contrary. Any Holder of this Note electing to exercise the right of conversion set forth in Section 4(a)
hereof, in addition to the requirements set forth in Section 4(a), and any prospective transferee of this Note, also is
required to give the Company written confirmation that this Note is being converted (“Notice of
Conversion”) in the form annexed hereto as Exhibit A. The date of receipt (including receipt by telecopy) of
such Notice of Conversion shall be the Conversion Date.

 

4.
(a) The Holder of this Note has the option, beginning on the issuance date of this Note, to convert all or any amount of
the principal face amount of this Note then outstanding into shares of the Company’s common stock (the “Common
Stock”) at a price (“Conversion Price”) equal to 40% discount of the lowest closing bid
price (“Lowest Trading Price”) of the Common Stock as reported on the otcmarkets.com exchange which the
Company’s shares are traded or any exchange upon which the Common Stock may be traded in the future
(“Exchange”), for the ten trading days immediately prior to the delivery of a Notice
of Conversion, including the day upon which a Notice of Conversion is received by the Company (provided such Notice of
Conversion is delivered by fax or other electronic method of communication to the Company after 4 P.M. Eastern Standard or
Daylight Savings Time if the Holder wishes to include the same day closing price). The Notice of Conversion may be rescinded
if the shares have not been delivered within 3 business days. The Company shall deliver the shares of Common Stock to the
Holder within 3 business days of receipt by the Company of the Notice of Conversion. The Holder shall surrender this Note to
the Company upon receipt of the shares of Common Stock, executed by the Holder. This will make clear the Holder’s
intention to convert this Note or a specified portion hereof, and accompanied by proper assignment hereof in blank. Accrued
but unpaid interest shall be subject to conversion. The number of issuable shares will be rounded to the nearest whole share,
and no fractional shares or scrip representing fractions of shares will be issued on conversion. In the event the Company
experiences a DTC “Chill” on its shares, the conversion price discount shall be increased to 50% while that
“Chill” is in effect. Notwithstanding anything to the contrary contained in the Note (except as set
forth below in this Section), the Note shall not be convertible by Investor, and Company shall not affect any conversion of
the Note or otherwise issue any shares of Common Stock to the extent (but only to the extent) that Investor together with any
of its affiliates would beneficially own in excess of 4.99%, which may be increased up
to 9.99% upon 60 days prior written notice by the Holder to the Company, (the “Maximum Percentage”)
of the Common Stock outstanding. To the extent the foregoing limitation applies, the determination of whether a Note shall be
convertible (vis-à-vis other convertible, exercisable or exchangeable securities owned by Investor or any of its
affiliates) and of which such securities shall be convertible, exercisable or exchangeable (as among all such securities
owned by Investor and its affiliates) shall, subject to such Maximum Percentage limitation, be determined on the basis of the
first submission to Company for conversion, exercise or exchange (as the case may be). No prior inability to convert a Note,
or to issue shares of Common Stock, pursuant to this Section shall have any effect on the applicability of the provisions of
this Section with respect to any subsequent determination of convertibility. For purposes of this Section, beneficial
ownership and all determinations and calculations (including, without limitation, with respect to calculations of percentage
ownership) shall be determined in accordance with Section 13(e) of the 1934 Act (as defined below) and the rules and
regulations promulgated thereunder. The provisions of this Section shall be implemented in a manner otherwise than in strict
conformity with the terms of this Section to correct this Section (or any portion hereof) which may be defective or
inconsistent with the intended Maximum Percentage beneficial ownership limitation herein contained or to make changes or
supplements necessary or desirable to properly give effect to such Maximum Percentage limitation. The limitations contained
in this Section shall apply to a successor holder of this Note and shall be unconditional, irrevocable and non-waivable. For
any reason at any time, upon the written or oral request of Investor, Company shall within one (1) business day confirm
orally and in writing to Investor the number of shares of Common Stock then outstanding, including by virtue of any prior
conversion or exercise of convertible or exercisable securities into Common Stock, including, without limitation, pursuant to
this Note.

 

    	 	 	 

    	 

    

 

(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 8% per annum. Interest shall be paid, by
the Company, in Common Stock (“Interest Shares”). Holder may send in a Notice of Conversion to the Company for
Interest Shares based on the formula provided in Section 4(a) above. The dollar amount converted into Interest Shares shall
be all or a portion of the accrued interest calculated on the unpaid principal balance of this Note to the date of such
notice.

 

(c)
During the first six months this Note is in effect, the Company may redeem this Note by paying to the Holder an amount as
follows: (i) if the redemption occurs within the first 60 days then an amount equal to 115% of the face amount of this Note
plus any accrued interest, (ii) if the redemption occurs after the 61st day but on or before the 120th day
following the issuance of this Note, then an amount equal to 125% of the face amount of this Note along with any accrued
interest, (iii) if the redemption occurs after the 121st day but on or before the 180th day following the issuance
of this Note, then an amount equal to 135% of the face amount of this Note along with any accrued interest This Note may not
be redeemed after 180 days. The redemption must be closed and paid for within 3 business days of the Company sending the
redemption demand or the redemption will be invalid and the Company may not redeem this Note.

 

(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series
of related transactions, (ii) a reclassification, capital reorganization or other change or exchange of outstanding shares of
the Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the
Company with or into another person or entity in which the Company is not the surviving entity (other than a merger which is
effected solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or
exchange of outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being
referred to as a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this
Note in cash for 150% of the principal amount, plus accrued but unpaid interest through the date of redemption, or at
the election of the Holder, such Holder may convert the unpaid principal amount of this Note (together with the amount of
accrued but unpaid interest) into shares of Common Stock immediately prior to such Sale Event at the Conversion
Price.

 

    	 	 	 

    	 

    

 

(e)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection
with which this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder
of this Note shall have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and
number of shares of stock or other securities or property (including cash) receivable upon such reclassification, capital
reorganization or other change, consolidation or merger by a holder of the number of shares of Common Stock that could have
been purchased upon exercise of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such
Sale Event. The foregoing provisions shall similarly apply to successive Sale Events. If the consideration received by
the holders of Common Stock is other than cash, the value shall be as determined by the Board of Directors of the Company or
successor person or entity acting in good faith.

 

5.
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 form, herein prescribed.

 

6.
The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest,
notice of dishonor, notice of acceleration or intent to accelerate, 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
hereto.

 

7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be
incurred by the Holder in collecting any amount due under this Note.

 

8.
[intentionally omitted]

 

9.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the
Company; or

 

(b)
The Company does not notify the Holder within three (3) business days of granting another party more favorable investment
terms; or

 

    	 	 	 

    	 

    

 

(c)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written
statements heretofore or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of
this Note, or the Securities Purchase Agreement under which this note was issued shall be false or misleading in any respect;
or

 

(d)
The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or
obligation of the Company under this Note or any other note issued to the Holder; or

 

(e)
The Company shall (1) become insolvent; (2) admit in writing its inability to pay its debts generally as they mature; (3)
make an assignment for the benefit of creditors or commence proceedings for its dissolution; (4) apply for or consent to the
appointment of a trustee, liquidator or receiver for its or for a substantial part of its property or business; (5) file a
petition for relief, consent to the filing of such petition or have filed against it an involuntary petition for bankruptcy
relief, all under federal or state laws as applicable; or

 

(f)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business
without its consent and shall not be discharged within sixty (60) days after such appointment; or

 

(g)
Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume
custody or control of the whole or any substantial portion of the properties or assets of the Company; or

 

(h)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of one hundred thousand dollars
($100,000) in the aggregate, shall be entered or filed against the Company or any of its properties or other assets and shall
remain unpaid, unvacated, unbonded or unstayed for a period of fifteen (15) days or in any event later than five (5) days
prior to the date of any proposed sale thereunder; or

 

(i)
[intentionally omitted]; or

 

(j)
The Company shall have its Common Stock delisted from an exchange (including the OTCBB exchange) or, if the Common Stock
trades on an exchange, then trading in the Common Stock shall be suspended for more than 10 consecutive days; or

 

(k)
[intentionally omitted]; or

 

(l)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within
3 business days of its receipt of a Notice of Conversion; or

 

    	 	 	 

    	 

    

 

(m)
The Company shall not be “current” in its filings with the Securities and Exchange Commission; or

 

(n)
The Company shall lost the “bid” price for its stock in a market (including the OTCQB marketplace or other
exchange); or

 

(o)
The Company is in arrears for more than 30 days with its Transfer Agent, the conversion discount shall be increased from 40%
to 50%; or

 

(p)
The Company shall (1) not replenish the reserve set forth in Section 13, within 3 business days of the request of the Holder,
(2) change Transfer Agents without providing notice and an updated and signed Transfer Agent Letter within 5 business days of
the change.

 

(q)
Following any Event of Default, the Conversion Price discount shall be permanently increased an additional five percent (5%);
or

 

Then,
or at any time thereafter, unless cured within 5 days, and in each and every such case, unless such Event of Default shall have
been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option
of the Holder and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without
presentment, demand, protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly
waived, anything herein or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately,
and without expiration of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or
any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24%
per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law.
In the event of a breach of Section 8(l) the penalty shall be $250 per day the shares are not issued beginning on the 4th
day after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day beginning on the
10th day. The penalty for a breach of Section 8(n) shall be an increase of the outstanding principal amounts by 20%.
In case of a breach of Section 8(j), (k), (l) or (m) the outstanding principal due under this Note shall increase by 50%. If this
Note is not paid at maturity, the outstanding principal due under this Note shall increase by 10%.

 

If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

    	 	 	 

    	 

    

 

At
the Holder’s election, if the Company fails for any reason to deliver to the Holder the conversion shares by the by the
3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder incurs a Failure to Deliver
Loss, then at any time the Holder may provide the Company written notice indicating the amounts payable to the Holder in respect
of the Failure to Deliver Loss and the Company must make the Holder whole as follows:

 

Failure
to Deliver Loss = [(High trade price at any time on or after the day of exercise) x (Number of conversion shares)]

 

The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day
from the time of the Holder’s written notice to the Company.

 

10.
In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid
or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum
extent possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected
or impaired thereby.

 

11.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument
signed by the Company and the Holder.

 

12.
The Company represents that it is not a “shell” issuer and has never been a “shell” issuer or that if
it previously has been a “shell” issuer that at least 12 months have passed since the Company has reported form
10 type information indicating it is no longer a “shell issuer. Further. The Company will instruct its counsel to
either (i) write a 144- 3(a)(9) opinion to allow for salability of the conversion shares or (ii) accept such opinion from
Holder’s counsel.

 

13.
The Company shall reserve nine hundred ten thousand (910,000) shares of Common Stock of the Company for conversions under
this Note (the “Share Reserve”). The investor shall have the right to periodically request that the number of
Reserved Shares be increased so that the number of Reserved Shares at least equals 300% of the number of shares of Company
common stock issuable upon conversion of the Note. The Company shall pay all costs associated with issuing and delivering the
shares. At all times, the reserve shall be maintained with the Transfer Agent at four times the amount of shares required if
the Note would be fully converted.

 

14.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock
splits, recapitalizations etc. This notice shall be given to the Holder as soon as possible under law.

 

15.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly
to be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The
Holder and the Company hereby mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of
the State of New York. This Agreement may be executed in counterparts, and the facsimile transmission of an executed
counterpart to this Agreement shall be effective as an original.

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

Dated:
________________

 

	 	PROPANC BIOPHARMA INC.
	 	 	 
	 	By:
    	 
	 	 	James
    Nathanielsz - CEO

 

    	 	 	 

    	 

    

 

EXHIBIT
A

 

NOTICE
OF CONVERSION

 

(To
be Executed by the Registered Holder in order to Convert the Note)

 

The
undersigned hereby irrevocably elects to convert $___________ of the above Note into _________ Shares of Common Stock of Propanc
Biopharma Inc. (“Shares”) according to the conditions set forth in such Note, as of the date written below.

 

If
Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes
and charges payable with respect thereto.

 

Date
of Conversion: ______________________________________________________________

Applicable
Conversion Price: _______________________________________________________

Signature:
______________________________________________________________________

[Print
Name of Holder and Title of Signer]

Address:
______________________________________________________________________

______________________________________________________________________

 

SSN
or EIN: ______________________

Shares
are to be registered in the following name: 

_____________________________________

 

Name:
________________________________________________________________________

Address:
______________________________________________________________________

Tel:
________________________________________

Fax:
________________________________________

SSN
or EIN: __________________________________

 

Shares
are to be sent or delivered to the following account:

 

Account
Name: __________________________________________________________________

Address:
_______________________________________________________________________

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