Document:

ROCKY
MOUNTAIN HIGH BRANDS, INC.

6 MONTH 6% CONVERTIBLE
PROMISSORY NOTE

 

$100,000.00

("Principal")

 

July 11, 2017

("Effective Date")

 

This
Convertible Promissory Note, dated July 11, 2017, (the "Note"),
is by and between ROCKY MOUNTAIN HIGH BRANDS, INC., a Nevada corporation
(the "Company''), its successors and assigns, and LSW Holdings, LLC, to
which the Company is issuing this Note as ("Holder''). This Note is being issued pursuant to exemptions from registration
under the Securities Act of 1933 of the United States, as amended.

 

1.                   
PRINCIPAL, INTEREST, MATURITY DATE. In consideration
of complete and total satisfaction of a prior unsecured, undocumented loan to the Company in the same amount and effective the
same date as this convertible promissory note and without further recourse for that loan other than the terms of this note, satisfying
and superseding all obligations of the prior debt, The Company, its successors and assigns, hereby promises to pay to the Holder,
or its successors or assigns, in immediately available funds, the total principal sum of ONE HUNDRED
THOUSAND DOLLARS ($100,000.00 U.S.) under the terms and conditions of this Note. The principal hereof and any unpaid
and continuing to accrue interest thereon shall be due and payable to the Holder (unless such payment date is accelerated as provided
in Section 8 hereof) not later than six months from the Effective Date, or JANUARY
11, 2018 (the "Maturity Date"). Payment of all amounts due hereunder shall be made at the address of the Holder
provided for in Section 10 hereof. Interest on the unpaid principal balance of this Note shall accrue from the above date first
written and shall continue to accrue until all unpaid principal and interest is paid in full. Interest shall be calculated at the
simple interest rate of six percent (6%) per annum. Unless Holder
of the Note elects to convert the note to stock, the Company shall have effectively received a CALL notice, requiring the Company
to pay Holder all unpaid principal and interest upon the maturity of this note.

 

2.                   
PREPAYMENT. The Company may, at its option,
at any time and from time to time, prepay all or any part of the principal balance of this Note (the "Prepayment" or
"Prepayments") without penalty or premium, provided that concurrently with each such Prepayment the Company shall pay
accrued interest on the principal, if any.

 

3.                   
RENEWAL. The Company may renew this Note upon
not less than thirty {30) days advance written notice to the Holder, wherein the granting of such renewal shall be at the sole
option and discretion of the Holder.

 

4.                  
TRANSFERABILITY. This Note shall not be transferred,
pledged, hypothecated, or assigned by the Company without the express written consent of the Holder. In the event any third party
acquires a controlling interest in the Company or acquires substantially all of the assets of the Company (a "Reorganization
Event"), this Note will survive and become an obligation of the party that a quires such controlling interest or assets. In
the event of a Reorganization Event the Company agrees to make the party that acquires such controlling

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interest or assets, aware of the terms of this Section and this Note. This Note, in whole or in part, may be
transferred, pledged, hypothecated, or assigned by the Holder in its sole option and discretion, the "Transfer'', and all
rights to the Conversion of this Note (as hereinafter defined), shall likewise be transferred, pledged, hypothecated, or assigned,
in whole or in part, by the Holder in its sole option and discretion upon such Transfer.

 

		5.	CONVERSION OF PROMISSORY NOTE.

 

(a)                
Conversion Rights; Conversion Dates; Conversion Price. The Holder shall provide the Company with written notice
of any Conversion (the "Conversion Notice") within five (5) business days of the date of Holder's verbal or written advice
to the Company that the Holder is executing said Conversion (the "Conversion Date"), in a form similar or identical to
the attached Exhibit A. The Company agrees to execute any Conversion requested by the Holder within the terms and conditions
of the following Section 5 (b), "Method of Conversion". The Holder may continue to request conversion of the outstanding
principal and interest of the Note until all outstanding principal and interest of this Note is paid in full, including any additional
amounts due under Default or an Event of Default. Any amount so converted will be converted into common stock at a conversion price
per share of 50% of the average of the 3 lowest closing bid prices of the Common Stock of the Company during the 10 trading
days prior to the conversion. USD (the "Conversion Price").

 

		(b)	Method of Conversion.

(i)           
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 Company unless the entire unpaid principal and
interest of this Note is so converted.

 

(ii)          
The Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the
issuance and delivery of shares of common stock or other securities or property on conversion of this Note in a name other than
that of the Holder (or its street address), and the Company shall not be required to issue or deliver any such shares or other
securities or property unless and until the person or persons (other than the Holder or the custodian in whose street name such
shares are to be held for the Holder's account) requesting the issuance thereof, shall have paid to the Company the amount of any
such tax or shall have established to the satisfaction of the Company that such tax has been paid.

 

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(ii) The
Conversion Shares are to be issued by the Company's transfer agent via express courier to the Holder within seven
(7) business days from the Company's receipt of the Conversion Notice (the "Delivery Date"). Upon receipt of the
Conversion Notice, the Company will immediately issue an instruction letter with all supporting documentation, as required by
law, to facilitate the issuance of the Conversion Shares by the Delivery Date. The Company will bear all costs related to the
issuance of the Conversion Shares, including all costs of obtaining an attorney's opinion letter regarding the Conversion,
and the overnight delivery of the Conversion
Shares, and shall maintain adequate authorized capital stock, in type and quantity, at all times until this Note is paid in
full to, or fully converted by, the Holder, in order to facilitate the terms and conditions of this Section. Any failure of
the Company to comply with the provisions of this paragraph shall be deemed by the Holder an Event of Default under this
Note.

 

(iv) All Conversion Shares
to be issued are to be fully-paid, non-assessable, and lawfully issued by the Company. The Conversion Shares are to be freely transferrable
on the books and records of the Company as and to the extent provided in this Note and applicable law.

 

6.                  
CONVERSION LIMITATION. Notwithstanding Section
5 above, neither the Holder nor the Company may convert any outstanding amounts due under this Note if at the time of such conversion
the amount of common stock issued for the conversion, when added to other shares of Company common stock owned by the Holder or
which can be acquired by Holder upon exercise or conversion of any other instrument, would cause the Holder to own more than four
and nine-tenths percent {4.99%) of the Company's outstanding common stock. The restriction described in this paragraph may be revoked
upon sixty-one (61) days prior notice from Holder to the Company.

 

7.                 
DEFAULT. The occurrence of any one of the
following events shall constitute a Default or an Event of Default:

 

(a)                
The non-payment, when due or not later than the Maturity Date, of any principal or interest pursuant to this Note;

 

(b)                
The material breach of any representation or warranty in this Note, or the terms and conditions of any Section of
this Note, including, but not limited to, Section 4, Section 6 or Section 10. In the event the Holder becomes aware of a breach
of this Section ll{b), the absolute determination of the existence of such breach being in the sole judgment of the Holder, the
Holder shall notify the Company in writing of such breach and the Company shall have five business days after notice to cure such
breach;

 

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(c)               
The commencement against the Company of any proceeding relating to the Company under any bankruptcy, reorganization,
arrangement, insolvency, adjustment of debt, receivership, dissolution or liquidation law or statute of any jurisdiction, whether
now or hereafter in effect, provided, however, that the commencement of such a proceeding shall not constitute an Event of Default
unless the Company consents to the same or admits in writing the material allegations of same, or said proceeding shall remain
undismissed for 20 days; or the issuance of any order, judgment or decree for the appointment of a receiver or trustee for the
Company or for all or a substantial part of the property of the Company, which order, judgment or decree remains undismissed for
20 days; or a warrant of attachment, execution, or similar process shall be issued against any substantial part of the property
of the Company.

 

Upon the occurrence of any Default
or Event of Default, the Holder, may, by written notice to the Company, declare all or any portion
of the unpaid principal amount due to Holder, together with all accrued interest thereon, immediately due and payable (the thirty
(30) day notice period in Section 1, above, will not be applicable in the case of an Event of Default), in which event it shall
immediately be and become due and payable; provided that upon the occurrence of an Event of Default as set forth in paragraph (d)
or paragraph (e) hereof, all or any portion of the unpaid principal amount due to Holder, together with all accrued interest thereon,
shall immediately become due and payable without any such notice.

 

Upon
the occurrence of any Default or Event of Default, the Holder at its sole discretion may elect to immediately, or at any time,
convert the outstanding principal amount of this Note, or any portion of the principal amount hereof, and any accrued interest,
in whole or in part, into shares of the common stock of the Company.

 

8.                  
NOTICES. Notices to be given hereunder shall
be in writing and shall be deemed to have been sufficiently given if delivered personally or sent by overnight courier, or by facsimile
or other electronic transmission (e.g., email), return receipt/or confirmation of receipt requested. Notice shall be deemed to
have been received on the date and time of personal or overnight delivery or electronic transmission, if received during normal
business hours of the recipient; if not, then on the next business day.

 

Notices
to the Company
shall be sent to:

 

ROCKY MOUNTAIN
HIGH BRANDS, INC.

9101LBJ Freeway, Suite 200

Dallas, TX 75243..

ATTN: Michael R. Welch

 

Notices to
the Holder shall be sent to:

 

LSW HOLDINGS, LLC

c/o
Lily Li 4858 Route 32

Catskill, NY 12414

 

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		9.	 REPRESENTATIONS
                                                                                                                                                                AND WARRANTIES.The Company hereby makes the following representations and warranties to the Holder:

 

(a)               
Organization. Good Standing and Power. The Company is a corporation duly incorporated, validly existing and
in good standing under the laws of the State of Nevada and has the requisite corporate power to own, lease and operate its properties
and assets and to conduct its business as it is now being conducted.

 

(b)                
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and
perform this Note and to issue and sell this Note. The execution, delivery and performance of this Note by the Company, and the
consummation by it of the Transactions contemplated hereby, have been duly and validly authorized by all necessary corporate action.
This Note, when executed and delivered, will constitute a valid and binding obligation of the Company enforceable against the Company
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of,
creditor's rights and remedies or by other equitable principles of general application.

 

10.            
REPRESENTATIONS AND WARRANTIES OF THE HOLDER. The
Holder hereby represents and warrants to the Company that:

 

(a)                
the Holder is an "accredited investor'' as such term is defined in Rule 501 of Regulation D promulgated under
the United States Securities Act of 1933, as amended, and the securities to be acquired by it upon Conversion of the Note (the
"Securities") will be acquired for its own account and, as of the date hereof, not with a view toward, or for sale in
connection with, any distribution thereof except in compliance with applicable United States federal and state securities law;
provided that the disposition of the Holder's property shall at all times be and remain within its control;

 

(b)                
the Holder represents that (i) it is not in fact acting only as agent for another Holder (ii)
that it is not a financial institution or other institutional investor, and (iii)
it is acting for its own account or as a bona fide trustee for a trust organized and existing other than for the purpose
of acquiring the Securities;

 

11.               
GOVERNING LAW. THIS NOTE SHALL BE GOVERNED
BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF Texas APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED
ENTIRELY THEREIN, WITHOUT GIVING EFFECT TO THE RULES OR PRINCIPLES OF CONFLICTS OF LAW.

 

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12.                
ATTORNEYS FEES. In the event the Holder
hereof shall refer this Note to an attorney to enforce the terms hereof, the Company agrees to pay all the costs and expenses incurred
in attempting or effecting the enforcement of the Holder's rights, whether or not suit is instituted, including reasonable attorney's
and paralegals' fees and costs through and including all trial
and appellate levels and
post-judgment proceedings and enforcements.

 

13.                
CONFORMITY WITH LAW. It
is the intention
of the Company and of the Holder to
conform strictly
to applicable usury
and similar laws
. Accordingly, notwithstanding
anything to the contrary in this
Note, it is agreed that the
aggregate of all charges which constitute interest under applicable usury and similar laws
that are contracted for, chargeable or receivable
under or in respe
ct of this Note, sha
ll under no circumstances
exceed the maximum amount of interest permitted by such laws,
and any excess, whether occasioned by acceleration or
maturity of this Note or otherwise, shall
be canceled automatically, and if theretofore paid,
shall be either refunded to the Company or credited on the principal amount
of this Note.

 

14.                 
WAIVERS. All
waivers must be in
writing by the Holder
. Any waiver or failure
to enforce any provision
of this Note on one occasion will not be deemed a waiver of
any other provision or of such provision
on any other occasion.

 

15.                 
HEADINGS. The
headings in this Note are for convenience and
are not to be used
in interpreting this Note.

 

16.                
COUNTERPARTS. This
Note may be executed in
any number of
counterparts, each of which sh all
be an original, but all of which together shall constitute one instrument.
The parties hereto agree that this Note, agreements ancillary to it, and related documents to be entered into in connection with
this Note will be considered signed
when the signat
ure of a party is
delivered by facsimile transmission, or an electronic copy of this Note
is
delivered bearing electronic signatures
of the parties thereto. Such facsimile or electronic
signat
ure shall be treated
in all respects as
having the same effect
as an original signature.

 

17.                
FURTHER ASSURANCES. The
Company, its officers, directors and majority shareholder
s heret
o shall
cooperate with one
anot
her at reasonable
times and on reasonable conditions and shall
promptly execute and
deliver any and
all instruments and
documents requested by the Holder as
may be reasonably necessary in order to fully carry out the
intent and purposes of this Note as contemplated
by the Holder at any
time prior to full repayment of the principal and
interest due under this Note.

 

18.             
AUTHORITY TO BIND. A responsible
officer of the Company has
read and underst
and
s the contents of
this Note and is empowered and duly authorized on behalf of the Company and
it s Board
of Directors to execute it,
and bind the Company to it
.

 

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19.               
 

 

IN WITNESS
WHEREOF, the below parties have signed this Note as of the Effective Date.

 

"Company""Holder''

 

ROCKY MOUNTAIN HIGH
BRANDS, IN C.

a Nevada corporation

LSW
HOLDINGS,
LLC

a Limited Liability Corporation

 

	By: /s/		

Michael
R. Welch, President & CEO

 

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EXHIBIT
A CONVERSION NOTICE

To:[Company Name]

 

The
undersigned hereby irrevocably elects to exercise the right, represented by that certain Convertible Promissory Note dated(the
"Note"), a copy of which is attached hereto, to convert in outstanding principal amount, and

 in accrued but
unpaid interest on the Note into _ shares of common stock (the "Shares") of [Company Name] (the "Company''),
or its successors and assigns.The undersigned requests that certificates for such Shares be issued in the following names and
quantities:

 

 

 

Dated:20_:

 

 

[Name]

 

By: 
_ __

 

Name:---------------

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ANNEX l

 

List of Conversions

 

	Conversion Date	Price Per Share	Number of Shares	Amount Converted	Holder
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    	 	9THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF
CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD
EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. LENDERS
SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE
ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT
ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

EAGLE
EQUITIES, LLC COLLATERALIZED SECURED PROMISSORY NOTE

 

 

 

$250,000.00New
Haven, CT

July 28, 2017

		1.	Principal and Interest

 

FOR
VALUE RECEIVED, Eagle Equities, LLC, a Nevada Limited Liability Company (the "Company") hereby absolutely and unconditionally
promises to pay to Rocky Mountain High Brands, Inc. (the "Lender"), or order, the principal amount of Two Hundred Fifty
Thousand Dollars ($250,000.00) no later than March 28, 2018, unless the Lender does not meet the "current information requirements"
required under Rule 144 of the Securities Act of 1933, as amended, in which case the Company may declare the offsetting note issued
by the Lender on the same date herewith to be in Default (as defined in that note) and cross cancel its payment obligations under
this Note as well as the Lenders payment obligations under the offsetting note. This Full Recourse Note shall bear simple interest
at the rate of 8%.

 

		2.	Repayments and Prepayments; Security.

 

a.                 
All principal under this Note shall.be
due and payable no later than March 28, 2018, unless the Lender does not meet the "current information requirements"
required under Rule 144 of the Securities Act of 1933, as amended, in which case the Company may declare the offsetting note issued
by the Lender on the same date herewith to be in Default (as defined in that note) and cross cancel its payment obligations under
this Note as well as the Lenders payment obligations under the offsetting note.

 

b.                 
The Company may pay this Note at any time. This note may not be assigned by the Lender,
except by operation of law.

 

c.                  
This Note shall initially be secured by the pledge of the $250,000.00 8%
convertible promissory note issued to the Company by the Lender on
even date herewith (the "Lender

 

    	 	1	 

    	 

    

 

Note").
The Company may exchange this collateral for other collateral with an appraised value of at least $250,000.00, by providing
3 days' prior written notice to the Lender. If the Lender does not object to the substitution of collateral in that 3-day period,
such substitution of collateral shall be deemed to have been accepted by the Lender. Notwithstanding the foregoing, an exchange
of collateral for $250,000.00 in cash shall not require the approval of the Lender. Any collateral exchange shall not constitute
a waiver of any defaults under a Lender note. All collateral shall be retained by New Venture Attorneys, P.C., which shall
act as the escrow agent for the collateral for the benefit of the Lender. The Company may not effect any conversions under the
Lender Note until it has made full cash payment for the portion of the Lender Note being converted.

 

		3.	Events of Default; Acceleration.

 

a.                 
The principal amount of this Note is subject to prepayment in whole or in part upon the
occurrence and during the continuance of any of the following events (each, an "Event of Default"): the initiation of
any bankruptcy, insolvency, moratorium, receivership or reorganization by or against the Company, or a general assignment of assets
by the Company for the benefit of creditors. Upon the occurrence of any Event of Default, the entire unpaid principal balance of
this Note and all of the unpaid interest accrued thereon shall be immediately due and payable. The Company may offset amounts due
to the Lender under this Note by similar amounts that may be due to the Company by the Lender resulting from breaches under the
Lender Note.

 

b.                 
No remedy herein conferred upon the Lender is intended to be exclusive of any other remedy
and each and every remedy shall be cumulative and in addition to every other remedy hereunder, now or hereafter existing at law
or in equity or otherwise. The Company accepts and agrees that this Note is a full recourse note and that the Holder may exercise
any and all remedies available to it under law.

 

		4.	Notices.

 

a.               
All notices, reports and other communications required or permitted hereunder shall be in
writing and may be delivered in person, by telecopy with written confirmation, overnight delivery service or U.S. mail, in which
event it may be mailed by first-class, certified or registered, postage prepaid, addressed (i) if to a Lender, at such Lender's
address as the Lender shall have furnished the Company in writing and (ii) if to the Company at such address as the Company shall
have furnished the Lender(s) in writing.

 

b.                 
Each such notice, report or other communication shall for all purposes under this Note be
treated as effective or having been given when delivered if delivered personally or, if sent by mail, at the earlier of its receipt
or 72 hours after the same has been deposited in a regularly maintained receptacle for the deposit of the United States mail, addressed
and mailed as aforesaid, or, if sent by electronic communication with confirmation, upon the delivery of electronic communication.

 

    	 	2	 

    	 

    

 

 

 

		5.	Miscellaneous.

a.                   
Neither this Note nor any provisions hereof may be changed, waived, discharged or terminated
orally, but
only by a signed statement in writing.

b.                 
No failure or delay by the Lender to exercise any right hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any right,
power or privilege preclude any other right, power or privilege. The provisions
of this Note are severable and if any one provision hereof shall be held invalid or unenforceable in whole or in part in any jurisdiction,
such invalidity or unenforceability shall affect only such provision in such jurisdiction. This Note expresses the entire understanding
of the parties with respect to the transactions contemplated hereby. The Company and every endorser and guarantor of this Note
regardless of the time, order or place of signing hereby waives presentment, demand, protest and notice of every kind, and assents
to any extension or postponement of the time for payment or any other indulgence, to any substitution, exchange or release of collateral,
and to the addition or release of any other party or person primarily or secondarily
liable.

 

c.                  
If Lender retains an attorney for collection
of this Note, or if any suit or proceeding is brought for the recovery of all, or any part of, or for protection of the indebtedness
respected by this Note, then
the Company agrees to pay all costs and expenses of the suit or proceeding, or any appeal thereof, incurred by the Lender, including
without limitation, reasonable attorneys' fees.

 

d.                 
This Note shall for all purposes be governed by, and construed in accordance with the laws
of the State of Nevada (without reference to conflict oflaws) and the exclusive venue shall be in the State and Federal courts
located in State of New York.

 

e.                 
This Note shall be binding upon the Company's successors and assigns, and shall inure to the
benefit of the Lender's successors and assigns.

 

 

IN
WITNESS WHEREOF, the Company has caused this Note to be executed by its duly authorized officer to take effect as of the date first
hereinabove written.

 

 

EAGLE EQUITIES, LLC

 

	 	 	/s/
		:	By:

                                                                                                                                                            Title:__________________

 

APPROVED:

 

ROCKY MOUNTAIN HIGH BRANDS, INC.

 

/s/

By:

Title:

__________________

 

    	 	3

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