Document:

Exhibit 10.3

  

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY
BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

  

	Principal Amount: $78,000.00	Issue Date: February 14, 2019
	Purchase Price:  $78,000.00	 

 

CONVERTIBLE PROMISSORY NOTE

 

FOR
VALUE RECEIVED, HYPERSOLAR, INC., a Nevada corporation (hereinafter called the “Borrower”), hereby promises
to pay to the order of POWER UP LENDING GROUP LTD., a Virginia corporation, or registered assigns (the “Holder”)
the sum of $78,000.00 together with any interest as set forth herein, on February 14, 2020 (the “Maturity Date”),
and to pay interest on the unpaid principal balance hereof at the rate of ten percent (10%)(the “Interest Rate”) per
annum from the date hereof (the “Issue Date”) until the same becomes due and payable,
whether at maturity or upon acceleration or by prepayment or otherwise. This Note may not be prepaid in whole or in part except
as otherwise explicitly set forth herein. Any amount of principal or interest on this Note which is not paid when due shall bear
interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is paid (“Default Interest”).
Interest shall be computed on the basis of a 365 day year and the actual number of days elapsed. Interest shall commence accruing
on the Issue Date but shall not be payable until the Note becomes payable (whether at Maturity Date or upon acceleration or by
prepayment). All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share (the “Common
Stock”) in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments
shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the
provisions of this Note. Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto
in that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (the “Purchase
Agreement”).

 

This
Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

     

     

    

 

The
following terms shall apply to this Note:

 

Article
I. CONVERSION RIGHTS

 

1.1
Conversion Right. The Holder shall have the right from time to time, and at any time during the period beginning on the
date which is one hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date
and (ii) the date of payment of the Default Amount (as defined in Article III), each in respect of the remaining outstanding principal
amount of this Note to convert all or any part of the outstanding and unpaid principal amount of this Note into fully paid and
non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other
securities of the Borrower into which such Common Stock shall hereafter be changed or reclassified at the conversion price (the
“Conversion Price”) determined as provided herein (a “Conversion”); provided, however, that
in no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion
of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares
of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Notes or the unexercised
or unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise analogous to the
limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this
Note with respect to which the determination of this proviso is being made, would result in beneficial ownership by the Holder
and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately
preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause (1)
of such proviso. The beneficial ownership limitations on conversion as set forth in the section may NOT be waived by the Holder.
The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion
Amount (as defined below) by the applicable Conversion Price then in effect on the date specified in the notice of conversion,
in the form attached hereto as Exhibit A (the “Notice of Conversion”), delivered to the Borrower by the Holder in
accordance with Section 1.4 below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other means
resulting in, or reasonably expected to result in, notice) to the Borrower before 6:00 p.m., New York, New York time on such conversion
date (the “Conversion Date”); however, if the Notice of Conversion is sent after 6:00pm, New York, New York time the
Conversion Date shall be the next business day. The term “Conversion Amount” means, with respect to any conversion
of this Note, the sum of (1) the principal amount of this Note to be converted in such conversion plus (2) at the Holder’s
option, accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this Note to the Conversion
Date, plus (3) at the Holder’s option, Default Interest, if any, on the amounts referred to in the immediately preceding
clauses (1) and/or (2) plus (4) at the Holder’s option, any amounts owed to the Holder pursuant to Sections 1.4 hereof.

 

1.2 Conversion
Price. The conversion price (the “Conversion Price”) shall equal the Variable Conversion Price (as defined herein)
(subject to equitable adjustments by the Borrower relating to the Borrower’s securities or the securities of any subsidiary
of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The "Variable
Conversion Price" shall mean 61% multiplied by the Market Price (as defined herein) (representing a discount rate of 39%).
“Market Price” means the average of the lowest two (2) Trading Prices (as defined below) for the Common Stock during
the fifteen (15) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price”
means, for any security as of any date, the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system or
applicable trading market (the “OTC”) as reported by a reliable reporting service (“Reporting Service”)
designated by the Holder (i.e. Bloomberg) or, if the OTC is not the principal trading market for such security, the closing bid
price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no
closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any
market makers for such security that are listed in the “pink sheets”. If the Trading Price cannot be calculated for
such security on such date in the manner provided above, the Trading Price shall be the fair market value as reasonably determined
by the Borrower. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTC,
or on the principal securities exchange or other securities market on which the Common Stock is then being traded.

  

    2

     

    

 

1.3 Authorized
Shares. The Borrower covenants that during the period the conversion right exists, the Borrower will reserve from its authorized
and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of Common Stock
upon the full conversion of this Note issued pursuant to the Purchase Agreement. The Borrower is required at all times to have
authorized and reserved six times the number of shares that would be issuable upon full conversion of the Note (assuming that
the 4.99% limitation set forth in Section 1.1 is not in effect)(based on the respective Conversion Price of the Note (as defined
in Section 1.2) in effect from time to time, initially 90,260,366)(the “Reserved Amount”). The Reserved Amount shall
be increased (or decreased with the written consent of the Holder) from time to time in accordance with the Borrower’s obligations
hereunder. The Borrower represents that upon issuance, such shares will be duly and validly issued, fully paid and non-assessable.
In addition, if the Borrower shall issue any securities or make any change to its capital structure which would change the number
of shares of Common Stock into which the Notes shall be convertible at the then current Conversion Price, the Borrower shall at
the same time make proper provision so that thereafter there shall be a sufficient number of shares of Common Stock authorized
and reserved, free from preemptive rights, for conversion of the outstanding Note. The Borrower (i) acknowledges that it has irrevocably
instructed its transfer agent to issue certificates for the Common Stock issuable upon conversion of this Note, and (ii) agrees
that its issuance of this Note shall constitute full authority to its officers and agents who are charged with the duty of executing
stock certificates to execute and issue the necessary certificates for shares of Common Stock in accordance with the terms and
conditions of this Note.

 

If,
at any time the Borrower does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of
the Note.

 

1.4 Method
of Conversion.

 

(a) Mechanics
of Conversion. As set forth in Section 1.1 hereof, from time to time, and at any time during the period beginning on the date
which is one hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii)
the date of payment of the Default Amount, this Note may be converted by the Holder in whole or in part at any time from time
to time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion (by facsimile, e-mail or other reasonable
means of communication dispatched on the Conversion Date prior to 6:00 p.m., New York, New York time) and (B) subject to
Section 1.4(b), surrendering this Note at the principal office of the Borrower (upon payment in full of any amounts owed hereunder).

 

(b) Surrender
of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance
with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire unpaid
principal amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the principal amount
so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower,
so as not to require physical surrender of this Note upon each such conversion.

 

    3

     

    

 

(c) Delivery
of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail (or other
reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in this Section
1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates
for the Common Stock issuable upon such conversion within two (2) business days after such receipt (the “Deadline”)
(and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with
the terms hereof and the Purchase Agreement. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall be deemed
to be the holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the amount
of accrued and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults on
its obligations hereunder, all rights with respect to the portion of this Note being so converted shall forthwith terminate except
the right to receive the Common Stock or other securities, cash or other assets, as herein provided, on such conversion. If the
Holder shall have given a Notice of Conversion as provided herein, the Borrower’s obligation to issue and deliver the certificates
for Common Stock shall be absolute and unconditional, irrespective of the absence of any action by the Holder to enforce the same,
any waiver or consent with respect to any provision thereof, the recovery of any judgment against any person or any action to
enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower to the holder of record, or
any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of any obligation
to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower to the
Holder in connection with such conversion.

 

(d) Delivery
of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock issuable
upon conversion, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated Securities
Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions set forth herein, the
Borrower shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion
to the Holder by crediting the account of Holder’s Prime Broker with DTC through its Deposit
and Withdrawal at Custodian (“DWAC”) system.

 

(e) Failure
to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder’s right to pursue other remedies,
including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon conversion
of this Note is not delivered by the Deadline due to action and/or inaction of the Borrower, the Borrower shall pay to the Holder
$2,000 per day in cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock (the “Fail
to Deliver Fee”); provided; however that the Fail to Deliver Fee shall not be due if the failure is a result of a third
party (i.e., transfer agent; and not the result of any failure to pay such transfer agent) despite the best efforts of the Borrower
to effect delivery of such Common Stock. Such cash amount shall be paid to Holder by the fifth day of the month following the
month in which it has accrued or, at the option of the Holder (by written notice to the Borrower by the first day of the month
following the month in which it has accrued), shall be added to the principal amount of this Note, in which event interest shall
accrue thereon in accordance with the terms of this Note and such additional principal amount shall be convertible into Common
Stock in accordance with the terms of this Note. The Borrower agrees that the right to convert is a valuable right to the Holder.
The damages resulting from a failure, attempt to frustrate, interference with such conversion right are difficult if not impossible
to qualify. Accordingly, the parties acknowledge that the liquidated damages provision contained in this Section 1.4(e) are justified.

  

    4

     

    

 

1.5
Concerning the Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred
unless: (i) such shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer
agent shall have been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for
opinions of counsel in comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred
pursuant to an exemption from such registration (such as Rule 144 or a successor rule) (“Rule 144”); or (iii) such
shares are transferred to an “affiliate” (as defined in Rule 144) of the Borrower who agrees to sell or otherwise
transfer the shares only in accordance with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase Agreement).

 

Any
restrictive legend on certificates representing shares of Common Stock issuable upon conversion of this Note shall be removed
and the Borrower shall issue to the Holder a new certificate therefore free of any transfer legend if the Borrower or its transfer
agent shall have received an opinion of counsel from Holder’s counsel, in form, substance and scope customary for opinions
of counsel in comparable transactions, to the effect that (i) a public sale or transfer of such Common Stock may be made without
registration under the Act, which opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) in
the case of the Common Stock issuable upon conversion of this Note, such security is registered for sale by the Holder under an
effective registration statement filed under the Act; or otherwise may be sold pursuant to an exemption from registration. In
the event that the Company does not reasonably accept the opinion of counsel provided by the Holder with respect to the transfer
of Securities pursuant to an exemption from registration (such as Rule 144), at the Deadline, it will be considered an Event of
Default pursuant to Section 3.2 of the Note.

 

1.6 Effect
of Certain Events.

 

(a) Effect
of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all
of the assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which more
than 50% of the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of the
Borrower with or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall be deemed to
be an Event of Default (as defined in Article III) pursuant to which the Borrower shall be required to pay to the Holder upon
the consummation of and as a condition to such transaction an amount equal to the Default Amount (as defined in Article III).
“Person” shall mean any individual, corporation, limited liability company, partnership, association, trust or other
entity or organization.

 

(b) Adjustment
Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion of all
of the Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar
event, as a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares
of another class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of
all or substantially all of the assets of the Borrower other than in connection with a plan of complete liquidation of the Borrower,
then the Holder of this Note shall thereafter have the right to receive upon conversion of this Note, upon the basis and upon
the terms and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion,
such stock, securities or assets which the Holder would have been entitled to receive in such transaction had this Note been converted
in full immediately prior to such transaction (without regard to any limitations on conversion set forth herein), and in any such
case appropriate provisions shall be made with respect to the rights and interests of the Holder of this Note to the end that
the provisions hereof (including, without limitation, provisions for adjustment of the Conversion Price and of the number of shares
issuable upon conversion of the Note) shall thereafter be applicable, as nearly as may be practicable in relation to any securities
or assets thereafter deliverable upon the conversion hereof. The Borrower shall not affect any transaction described in this Section
1.6(b) unless (a) it first gives, to the extent practicable, ten (10) days prior written notice (but in any event at least five
(5) days prior written notice) of the record date of the special meeting of shareholders to approve, or if there is no such record
date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization or other similar event
or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b) the resulting successor or acquiring
entity (if not the Borrower) assumes by written instrument the obligations of this Note. The above provisions shall similarly
apply to successive consolidations, mergers, sales, transfers or share exchanges.

  

    5

     

    

 

(c) Adjustment
Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets)
to holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or
distribution to the Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary
(i.e., a spin-off)) (a “Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this
Note after the date of record for determining shareholders entitled to such Distribution, to receive the amount of such assets
which would have been payable to the Holder with respect to the shares of Common Stock issuable upon such conversion had such
Holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such
Distribution.

 

1.7 Prepayment.
Notwithstanding anything to the contrary contained in this Note, at any time during the periods set forth on the table immediately
following this paragraph (the “Prepayment Periods”), the Borrower shall have the right, exercisable on not more than
three (3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued interest),
in full, in accordance with this Section 1.7. Any notice of prepayment hereunder (an “Optional Prepayment Notice”)
shall be delivered to the Holder of the Note at its registered addresses and shall state: (1) that the Borrower is exercising
its right to prepay the Note, and (2) the date of prepayment which shall be not more than three (3) Trading Days from the date
of the Optional Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”), the Borrower
shall make payment of the Optional Prepayment Amount (as defined below) to Holder, or upon the direction of the Holder as specified
by the Holder in a writing to the Borrower (which direction shall to be sent to Borrower by the Holder at least one (1) business
day prior to the Optional Prepayment Date). If the Borrower exercises its right to prepay the Note, the Borrower shall make payment
to the Holder of an amount in cash equal to the percentage (“Prepayment Percentage”) as set forth in the table immediately
following this paragraph opposite the applicable Prepayment Period, multiplied by the sum of: (w) the then outstanding principal
amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the Optional
Prepayment Date plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and (x) plus (z) any
amounts owed to the Holder pursuant to Section 1.4 hereof (the “Optional Prepayment Amount”). If the Borrower delivers
an Optional Prepayment Notice and fails to pay the Optional Prepayment Amount due to the Holder of the Note within two (2) business
days following the Optional Prepayment Date, the Borrower shall forever forfeit its right to prepay the Note pursuant to this
Section 1.7.

 

	Prepayment Period	 	Prepayment Percentage	 
	1. The period beginning on the Issue Date and ending on the
    date which is thirty (30) days following the Issue Date.	 	 	120	%
	2. The period beginning on the date which is thirty-one (31) days
    following the Issue Date and ending on the date which is sixty (60) days following the Issue Date.	 	 	125	%
	3. The period beginning on the date which is sixty-one (61) days
    following the Issue Date and ending on the date which is ninety (90) days following the Issue Date.	 	 	130	%
	4. The period beginning on the date that is ninety-one (91) day from the
    Issue Date and ending one hundred twenty (120) days following the Issue Date.	 	 	135	%
	5. The period beginning on the date that is one hundred twenty-one (121)
    day from the Issue Date and ending one hundred fifty (150) days following the Issue Date.	 	 	140	%
	6. The period beginning on the date that is one hundred fifty-one (151)
    day from the Issue Date and ending one hundred eighty (180) days following the Issue Date.	 	 	145	%

 

    6

     

    

 

After
the expiration of one hundred eighty (180) days following the Issue Date, the Borrower shall have no right of prepayment.

 

Article
II.  CERTAIN COVENANTS

 

2.1 Sale
of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s
written consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course of business.
Any consent to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

Article
III.  EVENTS OF DEFAULT

 

If
any of the following events of default (each, an “Event of Default”) shall occur:

 

3.1 Failure
to Pay Principal and Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this Note, whether
at maturity or upon acceleration and such breach continues for a period of five (5) days after written notice from the Holder.

 

3.2 Conversion
and the Shares. The Borrower fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that
it will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with
the terms of this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form)
any certificate for shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when
required by this Note, the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer
agent in transferring (or issuing) (electronically or in certificated form) any certificate for shares of Common Stock to be issued
to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, or fails to remove (or
directs its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive
legend (or to withdraw any stop transfer instructions in respect thereof) on any certificate for any shares of Common Stock issued
to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written announcement,
statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure shall continue
uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing) for
two (2) business days after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to remain
current in its obligations to its transfer agent. It shall be an event of default of this Note, if a conversion of this Note is
delayed, hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the
Holder advances any funds to the Borrower’s transfer agent in order to process a conversion, such advanced funds shall be
paid by the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder.

  

    7

     

    

 

3.3 Breach
of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this Note and any
collateral documents including but not limited to the Purchase Agreement and such breach continues for a period of twenty (20)
days after written notice thereof to the Borrower from the Holder.

 

3.4 Breach
of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement, statement
or certificate given in writing pursuant hereto or in connection herewith (including, without limitation, the Purchase Agreement),
shall be false or misleading in any material respect when made and the breach of which has (or with the passage of time will have)
a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.5 Receiver
or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply
for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such
a receiver or trustee shall otherwise be appointed.

 

3.6 Bankruptcy.
Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under
any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the
Borrower.

 

3.7 Delisting
of Common Stock. The Borrower shall fail to maintain the listing of the Common Stock on at least one of the OTC (which specifically
includes the quotation platforms maintained by the OTC Markets Group) or an equivalent replacement exchange, the Nasdaq National
Market, the Nasdaq SmallCap Market, the New York Stock Exchange, or the American Stock Exchange.

 

3.8 Failure
to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange Act; and/or
the Borrower shall cease to be subject to the reporting requirements of the Exchange Act.

 

3.9 Liquidation.
Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.10Cessation
of Operations.Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts
as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going
concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.11Financial
Statement Restatement.The restatement of any financial statements filed by the Borrower with the SEC at any time after
180 days after the Issuance Date for any date or period until this Note is no longer outstanding, if the result of such restatement
would, by comparison to the un-restated financial statement, have constituted a material adverse effect on the rights of the Holder
with respect to this Note or the Purchase Agreement.

  

    8

     

    

 

3.12
Replacement of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails
to provide, prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form
as initially delivered pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares
of Common Stock in the Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower.

 

3.13 Cross-Default. 
Notwithstanding anything to the contrary contained in this Note or the other related or companion documents, a breach or default
by the Borrower of any covenant or other term or condition contained in any of the Other Agreements, after the passage of all
applicable notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the
Other Agreements, in which event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the
Holder under the terms of this Note and the Other Agreements by reason of a default under said Other Agreement or hereunder. “Other
Agreements” means, collectively, all agreements and instruments between, among or by: (1) the Borrower, and, or for the
benefit of, (2) the Holder and any affiliate of the Holder, including, without limitation, promissory notes; provided, however,
the term “Other Agreements” shall not include the related or companion documents to this Note. Each of the loan transactions
will be cross-defaulted with each other loan transaction and with all other existing and future debt of Borrower to the Holder.

 

Upon
the occurrence and during the continuation of any Event of Default specified in Section 3.1 (solely with respect to failure to
pay the principal hereof or interest thereon when due at the Maturity Date), the Note shall become immediately due and payable
and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Default Amount
(as defined herein).  UPON THE OCCURRENCE AND DURING THE CONTINUATION OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE
NOTE SHALL BECOME IMMEDIATELY DUE AND PAYABLE AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS
HEREUNDER, AN AMOUNT EQUAL TO: (Y) THE DEFAULT AMOUNT (AS DEFINED HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence and
during the continuation of any Event of Default specified in Sections 3.1 (solely with respect to failure to pay the principal
hereof or interest thereon when due on this Note or upon acceleration), 3.3, 3.4, 3.7, 3.8, 3.10, 3.11, 3.12, 3.13, and/or 3.14
exercisable through the delivery of written notice to the Borrower by such Holders (the “Default Notice”), and upon
the occurrence of an Event of Default specified the remaining sections of Articles III (other than failure to pay the principal
hereof or interest thereon at the Maturity Date specified in Section 3,1 hereof), the Note shall become immediately due and payable
and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the greater of
(i) 150% times the sum of (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid
interest on the unpaid principal amount of this Note to the date of payment (the “Mandatory Prepayment Date”) plus
(y) Default Interest, if any, on the amounts referred to in clauses (w) and/or (x) plus (z) any amounts owed to the
Holder pursuant to Section 1.4(e) hereof (the then outstanding principal amount of this Note to the date of payment plus
the amounts referred to in clauses (x), (y) and (z) shall collectively be known as the “Default Amount”) and all other
amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby
are expressly waived, together with all costs, including, without limitation, legal fees and expenses, of collection, and the
Holder shall be entitled to exercise all other rights and remedies available at law or in equity. 

 

If
the Borrower fails to pay the Default Amount within five (5) business days of written notice that such amount is due and payable,
then the Holder shall have the right at any time, so long as the Borrower remains in default (and so long and to the extent that
there are sufficient authorized shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default
Amount, the number of shares of Common Stock of the Borrower equal to the Default Amount divided by the Conversion Price then
in effect.

  

    9

     

    

 

Article
IV. MISCELLANEOUS

 

4.1 Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other
or further exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder are cumulative
to, and not exclusive of, any rights or remedies otherwise available.

 

4.2 Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express
courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be:

 

If
to the Borrower, to:

 

HYPERSOLAR,
INC.

10
E. Yanonali St., Suite 36

Santa
Barbara, CA 93101

Attn:
Timothy Young, President and Chief Executive Officer

Fax:

Email:
tyoung@hypersolar.com

 

If
to the Holder:

 

POWER
UP LENDING GROUP LTD.

111
Great Neck Road, Suite 214

Great
Neck, NY 11021

Attn:
Curt Kramer, Chief Executive Officer

e-mail:
info@poweruplending.com

 

With
a copy by fax only to (which copy shall not constitute notice):

 

Naidich
Wurman LLP

111
Great Neck Road, Suite 216

Great
Neck, NY 11021

Attn:
Allison Naidich

facsimile:
516-466-3555

e-mail:
allison@nwlaw.com

 

    10

     

    

 

4.3 Amendments.
This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The
term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument (and the other
Notes issued pursuant to the Purchase Agreement) as originally executed, or if later amended or supplemented, then as so amended
or supplemented.

 

4.4
Assignability. This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit
of the Holder and its successors and assigns. Each transferee of this Note must be an “accredited investor” (as defined
in Rule 501(a) of the Securities and Exchange Commission). Notwithstanding anything in this Note to the contrary, this Note may
be pledged as collateral in connection with a bona fide margin account or other lending arrangement; and may be
assigned by the Holder without the consent of the Borrower.

 

4.5 Cost
of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection,
including reasonable attorneys’ fees.

 

4.6 Governing
Law. This Note shall be governed by and construed in accordance with the laws of the State of Virginia without regard to principles
of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Note
shall be brought only in the state courts of New York or in the federal courts located in the Eastern District of New York. The
parties to this Note hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall
not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Borrower and Holder
waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney's fees and
costs. In the event that any provision of this Note or any other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid
or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party
hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in
connection with this Note, any agreement or any other document delivered in connection with this Note by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for
notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law.

 

4.7 Purchase
Agreement. By its acceptance of this Note, each party agrees to be bound by the applicable terms of the Purchase Agreement.

 

4.8 Remedies.
The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for
a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the
Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law
or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing
any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic
loss and without any bond or other security being required.

 

    11

     

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this on February 14, 2019

  

	HYPERSOLAR, INC.	 
	 	 
	By:	/s/ Timothy Young	 
	 	Timothy Young	 
	 	President and Chief Executive Officer	 

  

    12

     

    

 

EXHIBIT
A -- NOTICE OF CONVERSION

   

The
undersigned hereby elects to convert $_________________ principal amount of the Note (defined below) into that number
of shares of Common Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth
below, of HYPERSOLAR, INC., a Nevada corporation (the “Borrower”) according to the conditions of the convertible note
of the Borrower dated as of February 14, 2019 (the “Note”), as of the date written below. No fee will be charged to
the Holder for any conversion, except for transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

		☐	The
Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the undersigned
or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).

 

Name
of DTC Prime Broker:

Account
Number:

 

		☐	The
undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock set
forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately below
or, if additional space is necessary, on an attachment hereto:

 

POWER
UP LENDING GROUP LTD.

111
Great Neck Road, Suite 214

Great
Neck, NY 11021

Attention:
Certificate Delivery

e-mail:
info@poweruplendinggroup.com

 

Date
of conversion:                                                                      _____________

Applicable
Conversion Price:                                                   $____________

Number
of shares of common stock to be issued

pursuant
to conversion of the Notes:                           ______________

Amount
of Principal Balance due remaining

under
the Note after this conversion:                       ______________

  

	 	POWER UP LENDING GROUP LTD.	 
	 	 	 
	 	By: 		 
	 	Name:  	Curt Kramer	 
	 	Title: 	Chief Executive Officer	 
	 	Date: 	 	 

 

 

12Exhibit 10.4

  

 

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

 

10% CONVERTIBLE PROMISSORY
NOTE

 

Maturity
Date of March 6, 2020 *the “Maturity Date”

 

$80,000 March 6, 2019 *the “Issuance Date”

 

FOR VALUE RECEIVED, Hypersolar,
Inc., a Nevada Corporation (the “Company”) doing business in Santa Barbara, hereby promises to pay to the order of
JSJ Investments Inc., an accredited investor and Texas Corporation, or its assigns (the “Holder”), the principal amount
of Eighty Thousand Dollars ($80,000) (“Note”), on demand of the Holder at any time on or after March 6, 2020 (the “Maturity
Date”), and to pay interest on the unpaid principal balance hereof at the rate of Ten Percent (10%) per annum (the “Interest
Rate”) commencing on the date hereof (the “Issuance Date”).

 

		1.	Payments of Principal and Interest.

 

		a.	Pre-Payment and Payment of Principal and Interest. The Company may pay this Note in full, together
with any and all accrued and unpaid interest, plus any applicable pre-payment premium set forth herein and subject to the terms
of this Section 1.a, at any time on or prior to the date which occurs 180 days after the Issuance Date hereof (the “Prepayment
Date”). In the event the Note is not prepaid in full on or before the Prepayment Date, it shall be deemed a “Pre-Payment
Default” hereunder. Until the Ninetieth (90th) day after the Issuance Date the Company may pay the principal at a cash redemption
premium of 130%, in addition to outstanding interest, without the Holder’s consent; from the 91st day to the One Hundred
and Twentieth (120th) day after the Issuance Date, the Company may pay the principal at a cash redemption premium of 135%, in addition
to outstanding interest, without the Holder’s consent; from the 121st day to the Prepayment Date, the Company may pay the
principal at a cash redemption premium of 145%, in addition to outstanding interest, without the Holder’s consent. After
the Prepayment Date up to the Maturity Date this Note shall have a cash redemption premium of 150% of the then outstanding principal
amount of the Note, plus accrued interest and Default Interest, if any, which may only be paid by the Company upon Holder’s
prior written consent. At any time on or after the Maturity Date, the Company may repay the then outstanding principal plus accrued
interest and Default Interest (defined below), if any, to the Holder.

 

		b.	Demand of Repayment. The principal and interest balance of this Note shall be paid to the Holder
hereof on demand by the Holder at any time on or after the Maturity Date. The Default Amount (defined herein), if applicable, shall
be paid to Holder hereof on demand by the Holder at any time such Default Amount becomes due and payable to Holder. The Holder
may, by written notice to the Company at least five (5) days before the Maturity Date (as may have been previously extended), extend
the Maturity Date to up to one (1) year following the date of the original Maturity Date hereunder.

 

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

 

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

 

    1

     

    

 

 

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

 

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

 

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

 

		ii.	“Conversion Price” means a 39% discount to the average of the
two lowest trading prices during the previous fifteen (15) trading days to the date of a Conversion Notice; (subject to equitable
adjustments for stock splits, stock dividends or rights offerings by the Company relating to the Company’s securities or
the securities of any subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions
and similar events).

 

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

 

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

 

		b.	Holder’s Conversion Rights. At any time after the Pre-payment Date,
the Holder shall be entitled to convert all of the outstanding and unpaid principal and accrued interest of this Note into fully
paid and non- assessable shares of Common Stock in accordance with the stated Conversion Price. The Holder shall not be entitled
to convert on a Conversion Date that amount of the Note in connection with that number of shares of Common Stock which would be
in excess of the sum of the number of shares of Common Stock issuable upon the conversion of the Note with respect to which the
determination of this provision is being made on a Conversion Date, which would result in beneficial ownership by the Holder and
its affiliates of more than 4.99% of the outstanding shares of Common Stock of the Company on such Conversion Date. For the purposes
of the provision to the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d)
of the Securities Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the Holder shall
not be limited to aggregate conversions of 4.99% (“Conversion Limitation 1”). The Holder shall have the authority to
determine whether the restriction contained in this Section 2(b) will limit any conversion hereunder, and accordingly, the
Holder may waive the conversion limitation described in this Section 2(b), in whole or in part, upon and effective after
61 days prior written notice to the Company to increase or decrease such percentage to any other amount as determined by Holder
in its sole discretion (“Conversion Limitation 2”). If in the case that the Company’s Common Stock is “chilled”
for deposit into the DTC system and only eligible for clearing deposit, then an additional 15% discount to the Conversion Price
shall apply for all future conversions under the Note while the “chill” is in effect. For the avoidance of doubt, with
reference to section 2(a)ii of this note, when the “chill” is in effect the conversion price will increase from a 39%
discount to a 50% discount to the lowest trading price during the previous (20) days to the date of a Conversion Notice. To the
extent the Conversion Price of the Company’s Common Stock closes below the par value per share, the Company will take all
steps necessary to solicit the consent of the stockholders to reduce the par value to the lowest value possible under law. The
Company agrees to honor all conversions submitted pending this adjustment unless the Holder, in its sole and absolute discretion
elects instead to set the Conversion Price to par value for such conversion(s) and the conversion amount for such conversion(s)
shall be increased to include Additional Principal, where “Additional Principal” means such additional amount to be
added to the conversion amount to the extent necessary to cause the number of Common Stock issuable upon such conversion(s) to
equal the same number of Common Stock as would have been issued had the Conversion Price not been set to par value in the Holder’s
sole and absolute discretion.

 

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

 

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

 

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

 

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

 

    2

     

    

 

 

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

 

		iii.	Record Holder. The person or persons entitled to receive the shares of Common Stock issuable upon
a conversion of this Note shall be treated for all purposes as the record holder or holders of such shares of Common Stock on the
Conversion Date.

 

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

 

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

 

		vi.	Liquidated Damages for Inability to Issue Shares. If the Company fails to deliver Shares requested
by a Conversion Notice due to an exhaustion of authorized and issuable common stock such that the Company must increase the number
of shares of authorized Common Stock before the Shares requested may be issued to the Holder, the discount set forth in the Conversion
Price will be increased by 5 percentage points (i.e. from 39% to 44%) for the Conversion Notice in question and all future Conversion
Notices until the outstanding principal and interest of the Note is converted or paid in full. These liquidated damages shall not
render the penalties prescribed by Paragraph 2(e)(v) void, and shall be applied in conjunction with Paragraph 2(e)(v) unless otherwise
agreed to in writing by the Holder. The Parties agree that, at the time of drafting of this Note, the Holder’s damages as
to the inability to issue shares are incapable or difficult to estimate and that the liquidated damages called for is a reasonable
forecast of just compensation.

 

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

 

		viii.	Transfer Agent Fees and Legal Fees. The issuance of the certificates shall be without charge or
expense to the Holder. The Company shall pay any and all Transfer Agent fees, legal fees, and advisory fees required for execution
of this Note and processing of any Notice of Conversion, including but not limited to the cost of obtaining a legal opinion with
regard to the Conversion. The Holder will deduct $2,000 from the principal payment of the Note solely to cover the cost of obtaining
any and all legal opinions required to obtain the Shares requested in any given Conversion Notice. These fees do not make provision
for or suffice to defray any legal fees incurred in collection or enforcement of the Note as described in Paragraph 12. All expenses
incurred by Holder, for the issuance and clearing of the Common Stock into which this Note is convertible into, shall immediately
and automatically be added to the balance of the Note at such time as the expenses are incurred by Holder.

 

    3

     

    

 

 

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

 

		3.	Other Rights of Holder: Reorganization, Reclassification, Consolidation,
Merger or Sale. Any recapitalization, reorganization, reclassification, consolidation, merger, sale of all or substantially all
of the Company’s assets to another Person or other transaction which is effected in such a way that holders of Common Stock
are entitled to receive (either directly or upon subsequent liquidation) stock, securities, cash or other assets with respect to
or in exchange for Common Stock is referred to herein as “Organic Change.” Prior to the consummation of any (i) Organic
Change or (ii) other Organic Change following which the Company is not a surviving entity, the Company will secure from the Person
purchasing such assets or the successor resulting from such Organic Change (in each case, the “Acquiring Entity”) a
written agreement (in form and substance reasonably satisfactory to the Holder) to deliver to Holder in exchange for this Note,
a security of the Acquiring Entity evidenced by a written instrument substantially similar in form and substance to this Note,
and reasonably satisfactory to the Holder. Prior to the consummation of any other Organic Change, the Company shall make appropriate
provision (in form and substance reasonably satisfactory to the Holder) to ensure that the Holder will thereafter have the right
to acquire and receive in lieu of or in addition to (as the case may be) the shares of Common Stock immediately theretofore acquirable
and receivable upon the conversion of the Note, such shares of stock, securities, cash or other assets that would have been issued
or payable in such Organic Change with respect to or in exchange for the number of shares of Common Stock which would have been
acquirable and receivable upon the conversion of the Note as of the date of such Organic Change (without taking into account any
limitations or restrictions on the convertibility of the Note set forth in Section 2(b) or otherwise). All provisions of this Note
must be included to the satisfaction of Holder in any new Note created pursuant to this section.

 

		a.	Adjustment Due to Distribution. If the Company shall declare or make any distribution of its assets
(or rights to acquire its assets) to holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise
(including any dividend or distribution to the Company’s shareholders in cash or shares (or rights to acquire shares) of
capital stock of a subsidiary (i.e., a spin-off)) (a “Distribution”), then the Holder of this Note shall be entitled,
upon any conversion of this Note after the date of record for determining shareholders entitled to such Distribution, to receive
the amount of such assets which would have been payable to the Holder with respect to the shares of Common Stock issuable upon
such conversion had such Holder been the holder of such shares of Common Stock on the record date for the determination of shareholders
entitled to such Distribution.

 

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

 

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

 

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

 

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

 

		5.	Covenants of the Company.

 

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

 

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

    

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

 

    4

     

    

 

 

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

 

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

 

		9.	Default and Remedies.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    5

     

    

 

 

		xv.	the Company directs its transfer agent not to transfer, or delays, impairs, or hinders its transfer
agent in transferring or issuing (electronically or in certificated form) any certificate for Shares of Common Stock to be issued
to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, or fails to remove (or directs
its transfer agent not to remove or impairs, delays and/or hinders its transfer agent from removing) any restrictive legend (or
to withdraw and stop transfer instructions) on any certificate for any Shares of Common Stock issued to the Holder upon conversion
of or otherwise pursuant to this Note as and when required by this Note (or makes any written announcement, statement or threat
that it does not intend to honor its obligations pursuant to a Conversion Notice submitted by the Holder) and any such failure
shall continue uncured for three (3) Business Days after the Conversion Notice has been delivered to the Company by Holder;

 

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

 

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

 

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

 

		xix.	“Change of Control Transaction” means the occurrence
after the date hereof of any of (a) an acquisition after the date hereof by an individual or legal entity or “group”
(as described in Rule 13d-5(b)(1) promulgated under the Securities Exchange Act of 1934) of effective control (whether through
legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of 40% of the voting securities
of the Company, (b) the Company merges into or consolidates with any other Person, as that term is defined in the Securities Act
of 1933, as amended, or any Person merges into or consolidates with the Company and, after giving effect to such transaction,
the stockholders of the Company immediately prior to such transaction own less than 60% of the aggregate voting power of the Company
or the successor entity of such transaction, (c) the Company sells or transfers all or substantially all of its assets to another
Person and the stockholders of the Company immediately prior to such transaction own less than 60% of the aggregate voting power
of the acquiring entity immediately after the transaction, (d) a replacement at one time or within a three year period of more
than one-half of the members of the Board of Directors which is not approved by a majority of those individuals who are members
of the Board of Directors on the Issuance Date (or by those individuals who are serving as members of the Board of Directors on
any date whose nomination to the Board of Directors was approved by a majority of the members of the Board of Directors who are
members on the date hereof), or (e) the execution by the Company of an agreement to which the Company is a party or by which it
is bound.

 

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

 

		xxi.	Notwithstanding anything to the contrary contained in this Note or the other related or companion
documents, a breach or default by the Company of any covenant or other term or condition contained in any of other agreement entered
into by the Company, after the passage of all applicable notice and cure or grace periods therein.

 

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

 

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

 

		c.	If at any time after the Issuance Date, the Company is not DWAC Eligible, then an additional 5%
discount shall be factored into the Conversion Price. If at any time after the Issuance Date, the Common Stock is not DTC Eligible,
then an additional 5% discount shall be factored into the Conversion Price. In addition, if any Event of Default occurs after the
Issuance Date, then an additional 5% discount shall be factored into the Conversion Price for each of the first three (3) Events
of Default that occur after the Issuance Date (for the avoidance of doubt, each occurrence of any Event of Default shall be deemed
to be a separate occurrence for purposes of the foregoing reductions, even if the same Event of Default occurs three (3) separate
times). For example, if there are three (3) separate occurrences of an Event of Default, then an additional 5% discount shall be
factored into the Conversion Price for the first such occurrence, and so on for each of the second and third occurrences of such
Event of Default.

 

    6

     

    

 

 

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

 

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

 

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

 

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

 

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

  

		15.	Governing Law. This Note shall be construed and enforced in accordance with,
and all questions concerning the construction, validity, interpretation and performance of this Note shall be governed by, the
laws of the State of Texas, without giving effect to provisions thereof regarding conflict of laws. Each party hereby irrevocably
submits to the non-exclusive jurisdiction of the state and federal courts sitting in Texas for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by sending, through certified mail or overnight courier, a copy thereof to such party at
the address for such notices to it under this Agreement and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

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

 

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

 

    7

     

    

 

 

		18.	Failure or Indulgence Not Waiver. No failure or delay on the part of the
Holder in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such power, right or privilege preclude further exercise thereof or of any other right, power or privilege.

 

		19.	Partial Payment. In the event of partial payment by the Holder, the principal sum due to the Holder
shall be prorated based on the consideration actually paid by the Holder such that the Company is only required to repay the amount
funded and the Company is not required to repay any unfunded portion of this Note, with the exception of any OID contemplated herein.

 

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

 

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

 

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

 

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

 

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

 

		25.	Successors and Assigns. This Agreement shall be binding upon all successors
and assigns hereto. The Company may not assign this Note without the prior written consent of Holder. This Note and any shares
of Common Stock issued upon conversion of this Note may be offered, sold, assigned or transferred by Holder without the consent
of the Company.

  

— SIGNATURE
PAGE TO FOLLOW —

 

    8

     

    

 

 

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

 

Hypersolar, Inc.

   

	Signature:	/s/ Timothy A. Young	 
	 	 	 
	By:	Timothy A. Young, CEO	 
	 	 	 
	Title:	 	 
	 	 	 
	Address:	10
E. Yanonali, Suite 36, 

Santa Barbara, CA 93101	 
	 	 	 
	 	 	 
	 	 	 
	Email:	tyoung@hypersolar.com	 
	 	 	 
	Phone:	310-486-0740	 
	 	 	 
	Facsimile: 	 	 
	 	 	 
	JSJ Investments Inc.	 
	 	 	 
	Signature:	 	 

   

Sameer Hirji, President

JSJ Investments Inc.

10830 North Central Expressway, Suite 152

Dallas TX 75231

888-503-2599

 

    9

     

    

 

 

Exhibit 1

Conversion
Notice

 

Reference is made to the
10% Convertible Note issued by Hypersolar, Inc. (the “Note”), dated March 6, 2020 in the principal amount of $80,000
with 10% interest. This note currently holds a principal balance of $80,000. The features of conversion stipulate a Conversion
Price equal to a 39% discount to the lowest trading price during the previous fifteen (15) trading days to the date of a Conversion
Notice pursuant to the provisions of Section 2(a)(ii) in the Note.

 

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

 

Date of Conversion:                                

 

Please confirm the following information:

 

Conversion Amount: $                               

 

Conversion Price: $                               (       % discount
from $                               )

 

Number of Common Stock to be issued:                                                                                           

 

Current Issued/Outstanding:
                                                                                                            

 

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

 

[BROKER INFORMATION]

 

Holder Authorization:

 

JSJ Investments Inc.

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

Dallas, TX 75231

888-503-2599

 

Tax ID: 20-2122354

 

Sameer Hirji, President

 

[DATE]

 

[CONTINUED ON NEXT PAGE]

 

    10

     

    

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}]]