Document:

NEITHER
THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES ISSUABLE UPON ITS EXERCISE HAVE BEEN REGISTERED WITH THE SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED
BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
THE SECURITIES REPRESENTED BY THIS CERTIFICATE AND THE SECURITIES ISSUABLE UPON ITS EXERCISE MAY BE PLEDGED IN CONNECTION WITH
A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

SERIES
L COMMON STOCK PURCHASE WARRANT

 

BARFRESH
FOOD GROUP, INC.

 

	Warrant
    Shares: Series L-[00-1/2]	Issuance
    Date: [__________, 20__]

 

This
warrant to purchase common stock (“Warrant”) certifies that, for value received, [___________] (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on the THREE
(3) YEAR anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe
for and purchase from Barfresh Food Group, Inc., a Delaware corporation (the “Company”), up to [___________]1
shares (the “Warrant Shares”) of Common Stock of the Company. The purchase price of one (1) Warrant
Share under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain
Securities Purchase Agreement, of even date herewith (the “Purchase Agreement”), among the Company and the
purchasers signatory thereto.

 

Section
2. Exercise.

 

a)
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any
time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly
executed facsimile copy or emailed electronic copy of the Notice of Exercise Form annexed hereto (or such other office or agency
of the Company as it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the
books of the Company); and, within three (3) Trading Days of the date said notice is delivered to the Company, the Company shall
have received payment of the aggregate Exercise Price of the Warrant Shares thereby purchased by wire transfer or cashier’s
check drawn on in lawful money of the United States. Notwithstanding anything herein to the contrary, the Holder shall not be
required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available
hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for
cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises
of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect
of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant
Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date
of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within two (2) Business Days of receipt
of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions
of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available
for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

 

1
Number of shares of Common Stock of the Company equal to 25% of the number of shares that would be issuable upon a full
conversion of the Principal Amount of the Note issued at each Closing at an average of the twenty (20) consecutive trading day
period immediately preceding the applicable closing date (“Closing Price”). In addition, if there is any outstanding
Principal Amount under any Note after the one year anniversary of the closing date of such Note, then Investors shall receive
an additional identical Warrant (i.e., a total of 50% warrant coverage).

 

    	 	1	 

    	 

    

 

b)
Exercise Price. The exercise price per Warrant Share under this Warrant shall be SEVENTY CENTS ($0.70)2,
subject to adjustment hereunder (the “Exercise Price”).

 

c)
Holder’s Restrictions. A Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section
2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of
Exercise, such Holder (together with such Holder’s Affiliates, and any other person or entity acting as a group together
with such Holder or any of such Holder’s Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation
(as defined below). For purposes of this Section 2(c) beneficial ownership shall be calculated in accordance with Section 13(d)
of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company
is not representing to such Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and such Holder
is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained
in this Section 2(d) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned
by such Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by such Holder together with any Affiliates) and of which portion
of this Warrant is exercisable, in each case subject the Beneficial Ownership Limitation, and the Company shall have no obligation
to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 2(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (x) the Company’s most recent Form 10-Q or Form 10-K, as the case
may be, (y) a more recent public announcement by the Company or (z) any other notice by the Company or the Company’s Transfer
Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company
shall within two Trading Days confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding.
In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Company, including this Warrant, by such Holder or its Affiliates since the date as of which such number
of outstanding shares of Common Stock was reported.

 

 

2
Greater of 120% of the Closing Price or $0.70.

 

    	 	2	 

    	 

    

 

The
“Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The provisions of this Section
2(c) shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(c) to
correct this Section 2(c) (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation.
The limitations contained in this Section 2(c) shall apply to a successor holder of this Warrant. The limitations contained in
this Section 2(c) shall not apply to any holder of greater than 5% of the Common Stock of the Company prior to the Initial Exercise
Date. The Beneficial Ownership Limitation provisions of this Section 2(c) may be waived by such Holder upon 65 days written notice
to the Company.

 

d)
Mechanics of Exercise.

 

i.
Delivery of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be transmitted by the Transfer
Agent of the Company to the Holder by physical delivery to the address specified by the Holder in the Notice of Exercise within
three (3) Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant (if required)
and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”). This Warrant
shall be deemed to have been exercised on the date the Exercise Price is received by the Company. The Warrant Shares shall be
deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a
holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the
Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(v) prior to the issuance of such
Warrant Shares, have been paid. The Warrant Shares shall bear a restrictive legend substantially similar to the restrictive legend
placed on the Common Shares issued pursuant to the Purchase Agreement.

 

ii.
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing
Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called
for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

iii.
Rescission Rights. If the Company fails to cause its Transfer Agent to transmit to the Holder a certificate or certificates
representing the Warrant Shares pursuant to this Section 2(d)(ii) by the Warrant Share Delivery Date, then the Holder will have
the right to rescind such exercise.

 

iv.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company
shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price or round up to the next whole share.

 

    	 	3	 

    	 

    

 

v.
Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for
any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses
shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may
be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued
in a name other than the name of the Holder, this Warrant, when surrendered for exercise, shall be accompanied by the Assignment
Form attached hereto duly executed by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient
to reimburse it for any transfer tax incidental thereto.

 

vi.
Closing of Books. The Company will not close its stockholder books or records in any manner that prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

Section
3. Certain Adjustments.

 

a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (ii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then, in each case, the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted
such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company effects any merger or consolidation
of the Company with or into another Person, (ii) the Company effects any sale of all or substantially all of its assets in one
or a series of related transactions, (iii) any tender offer or exchange offer (whether by the Company or another Person) is completed
pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property,
or (iv) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property (each “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, the number of shares
of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
consideration (the “Alternate Consideration”) receivable as a result of such merger, consolidation or disposition
of assets by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such
event. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to
such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in
such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable
manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are
given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be
given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the Company or surviving entity
in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions and evidencing
the Holder’s right to exercise such warrant into Alternate Consideration. The terms of any agreement pursuant to which a
Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to comply with the provisions
of this Section 3(b) and insuring that this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent
transaction analogous to a Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction
that is (i) an all cash transaction, (ii) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Securities
Exchange Act of 1934, as amended, or (iii) a Fundamental Transaction involving a person or entity not traded on a national securities
exchange, the Company or any successor entity shall pay at the Holder’s option, exercisable at any time concurrently with
or within 30 days after the consummation of the Fundamental Transaction, an amount of cash equal to the value of this Warrant
as determined in accordance with the Black-Scholes option pricing formula using an expected volatility equal to the 100 day historical
price volatility obtained from the HVT function on Bloomberg L.P. as of the trading day immediately prior to the public announcement
of the Fundamental Transaction.

 

    	 	4	 

    	 

    

 

c)
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as
of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

d)
Voluntary Adjustment By Company. The Company may at any time during the term of this Warrant reduce the then current Exercise
Price to any amount and for any period of time deemed appropriate by the board of directors of the Company provided that any such
reduction is made in identical manner to all then unexercised Warrants held by Holders.

 

e)
Notice to Holder/Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this
Section 3, the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting
forth a brief statement of the facts requiring such adjustment.

 

Section
4. Transfer of Warrant.

 

a)
Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d)
hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without
limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office
of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment,
and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having
a new Warrant issued.

 

    	 	5	 

    	 

    

 

b)
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice.

 

c)
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Holder, and for all other purposes, absent actual notice to the contrary.

 

d)
Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant,
the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act
and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such transfer, that
the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 4.1 of the Purchase Agreement.

 

Section
5. Miscellaneous.

 

a)
No Rights as Shareholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights
as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i).

 

b)
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c)
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next
succeeding Business Day.

 

    	 	6	 

    	 

    

 

d)
Authorized Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized
and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of
any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full
authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates
for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable
action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable
law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants
that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise
of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free
from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer
occurring contemporaneously with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above
the amount payable therefor upon such exercise immediately prior to such increase in par value, (b) take all such action as may
be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant, and (c) use commercially reasonable efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its
obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof.

 

e)
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be determined in accordance with the provisions of the Purchase Agreement.

 

f)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
will have restrictions upon resale imposed by state and federal securities laws.

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the
fact that all rights hereunder terminate on the Termination Date.

 

h)
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company
shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

    	 	7	 

    	 

    

 

i)
Limitation of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability
of Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by
the Company or by creditors of the Company.

 

j)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be
enforceable by any such Holder or holder of Warrant Shares.

 

k)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company
and the Holder.

 

l)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Warrant.

 

m)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	BARFRESH
    FOOD GROUP INC.
	 	 
	 	By:	
	 	Name:	Joseph
    Tesoriero
	 	Title:	Chief
    Financial Officer

 

    	 	8	 

    	 

    

 

NOTICE
OF EXERCISE

 

	To:	BARFRESH
    FOOD GROUP INC.

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

 

[  ]
By wire, in lawful money of the United States; or

 

[  ]
By cashier’s check, in lawful money of the United States.

 

(3)
Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name
as is specified below:

 

_______________________________

 

The
Warrant Shares shall be delivered by physical delivery of a certificate to:

 

_______________________________

_______________________________

_______________________________

 

(4)
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

	Name
    of Investing Entity: 	___________________________________________
	 	 
	Signature:	___________________________________________
	 	 
	Name:
    	___________________________________________
	 	 
	Title:	___________________________________________
	 	 
	Date:
    	___________________________________________

 

    	 	9	 

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned
to

 

_______________________________________________
whose address is

 

________________________________________________________________

 

________________________________________________________________

 

	 	Holder’s
    Signature:	________________________
	 	 	 
	 	Holder’s
    Address:	________________________
	 	 	 
	 	 	________________________
	 	 	 
	 	Dated:
    	________________________

 

Signature
Guaranteed: ___________________________________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those
acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

 

    	 	10THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THIS NOTE MAY
NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE NOTE UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR AN EXEMPTION THEREFROM, INCLUDING PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.
NOTWITHSTANDING THE FOREGOING, THE NOTE MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE NOTE.

 

	$250,000.00	Issuance
    Date: March 5, 2018

 

BARFRESH
FOOD GROUP INC.

 

Promissory
Note

No.
C-01

 

FOR
VALUE RECEIVED, Barfresh Food Group, Inc., a Delaware corporation (“Company”), promises to pay to the order of Ibex
Microcap Fund LLLP (“Holder”), or its permitted assigns, in lawful money of the United States of America the principal
sum of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00), or such lesser amount as shall equal the outstanding principal
amount hereof, together with simple interest from the date of this Promissory Note (this “Note”) on the unpaid principal
balance at a rate equal to 12.0% per annum (the “Interest Rate”), computed on the basis of the actual number of days
elapsed and a year of 365 days (collectively, together with the Other Fees (as defined below), the “Obligations”).
To the extent this Note has not been repaid, all unpaid principal, together with any then unpaid and accrued interest and other
amounts payable hereunder, shall be due and payable on the earlier of (i) six (6) months after the issuance date (the “Maturity
Date”), or (ii) when, upon or after the occurrence of an Event of Default (as defined below), such amounts are declared
due and payable by Holder or made automatically due and payable in accordance with the terms hereof. This Note is one of a series
of Promissory Notes (herein called the “Series-C Notes”) issued by the Company to investors with identical terms and
on the same form as set forth herein (except that the holder, principal amount and date of issuance may differ in each note).

 

1.
Interest. Unless provided otherwise hereunder, interest will accrue from the Issuance Date of this Note on the unpaid principal
amount at the Interest Rate, until all Obligations under this Note are paid in full. If an Event of Default (as defined below)
shall have occurred and be continuing, then the Interest Rate shall be increased to a rate of twenty percent (20%) per annum commencing
on the date on which the applicable Event of Default shall have occurred until such Event of Default shall have been cured or
waived in accordance with the terms of this Note. In no event will any interest charged, collected or reserved under this Note
exceed the maximum rate then permitted by applicable law, and if any payment made by the Company under this Note exceeds such
maximum rate, then such excess sum will be credited by Holder as a payment of principal.

 

2.
Payments. All payments hereunder shall be made in lawful money of the United States of America at such place or to such
account as Holder may from time to time designate in writing to the Company, without set-off of any kind. Payments will be credited
first to Other Fees, then to accrued but unpaid interest and the remainder applied to principal. The Company agrees it will offer
all pre-payments on this Note on a pro rata basis with its pre-payments on the other Series-C Notes so that the pre-payment on
each Series-C Note is the same percentage of the total payments made on all Series-C Notes as the indebtedness under each Series-C
Note is of the total indebtedness under all Series-C Notes. In the event the Holder of this Note receives a payment in excess
of its pro rata share, the Holder agrees that the excess will be paid to the holders of the other Series-C Notes, except to the
extent the offer was rejected or waived by the holder receiving a lesser amount than its pro rata share.

 

    	 	 	Page 1

    	 

    

 

3.
Events of Default. If any of the events specified in this Paragraph 3 shall occur (herein individually referred
to as an “Event of Default”), the Holder may, so long as such condition exists, declare all Obligations hereunder
immediately due and payable, by notice in writing to the Company:

 

(a)
Default in the payment of the principal or unpaid accrued interest of this Note when due and payable;

 

(b)
The institution by the Company of proceedings to be adjudicated as bankrupt or insolvent, or the consent by it to institution
of bankruptcy or insolvency proceedings against it or the filing by it of a petition or answer or consent seeking reorganization
or release under the federal Bankruptcy Code, or any other applicable federal or state law, or the consent by it to the filing
of any such petition or the appointment of a receiver, liquidator, assignee, trustee or other similar official of the Company,
or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the taking of
corporate action by the Company in furtherance of any such action;

 

(c)
If, within 60 days after the commencement of an action against the Company (and service of process in connection therewith on
the Company) seeking any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar relief under any present
or future statute, law or regulation, such action shall not have been resolved in favor of the Company or all orders or proceedings
thereunder affecting the operations or the business of the Company stayed, or if the stay of any such order or proceeding shall
thereafter be set aside, or if, within 60 days after the appointment without the consent or acquiescence of the Company of any
trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment
shall not have been vacated;

 

(d)
A material breach by the Company of any of its representations or covenants contained herein; or

 

(e)
Any declared default of the Company under any other material indebtedness that gives the holder thereof the right to accelerate
such other indebtedness.

 

4.
Subordination.

 

(a)
This Note is a general unsecured obligation of the Company.

 

(b)
This Note is subordinated in right of payment to all current and future asset backed loan indebtedness of the Company for borrowed
money (whether or not such indebtedness is secured) to commercial banks regularly engaged in the business of lending money and
the Series CN Convertible Note to be issued by the Company (the “Senior Debt”). The Company hereby agrees, and by
accepting this Note, the Holder hereby acknowledges and agrees, that so long as any Senior Debt is outstanding, upon notice from
the holders of such Senior Debt (the “Senior Creditors”) to the Company that an event of default, or any event which
with the giving of notice or the passage of time or both would constitute an event of default, has occurred under the terms of
the Senior Debt (a “Default Notice”), the Company will not make, and the Holder will not receive or retain, any payment
under this Note. Nothing in this paragraph will preclude or prohibit the Holder from receiving and retaining any payment hereunder
unless and until the Holder has received a Default Notice (which will be effective until waived in writing by the Senior Creditors
or until the Senior Debt is paid in full).

 

    	 	 	Page 2

    	 

    

 

5.
Transfer; Successors and Assigns. The terms and conditions of this Note will inure to the benefit of and be binding upon
the respective successors and permitted assigns of the parties; provided, however, that the Company may not assign its obligations
under this Note without the prior written consent of the Holder; provided, further, that Holder may assign its rights under this
Note upon written notice to the Company. This Note may not be offered for sale, sold, transferred or assigned in the absence of
an effective registration statement for the Note under the Securities Act of 1933, as amended (“1933 Act”), or an
exemption therefrom, including pursuant to Rule 144 or Rule 144A under the 1933 Act. Notwithstanding the foregoing, this Note
may be pledged in connection with a bona fide margin account or other loan or financing arrangement secured by this Note. In addition,
this Note may not be transferred unless the transferee enters into a written agreement in form and substance reasonably acceptable
to the Company pursuant to which the transferee agrees to be bound by all of the provisions of this Note. Thereupon, a new note
for the same principal amount and interest will be issued to, and registered in the name of, the transferee. The Company’s
Obligations are due only to the registered Holder of this Note.

 

6.
Notices. Any notices or other communications required or permitted to be given under the terms of this Note that must be
in writing will be deemed to have been delivered (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by
facsimile (provided a confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); (iii) one day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to
the party to receive the same; (iv) upon receipt, when sent by email, provided a confirmation of receipt is emailed to sender
from recipient.

 

7.
Amendments and Waivers. Any terms of this Note may be amended, modified or waived only with the written consent of the
Company and Holder.

 

8.
Governing Law. This Note and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto
will be governed, construed, and interpreted in accordance with the laws of the State of Delaware without giving effect to principles
of conflicts of law.

 

9.
Enforcement Costs. If any action be commenced to enforce this Note, or to protect the interest of Holder, there shall be
added to the amount due by the Company hereunder, the amount of any and all costs and expenses incurred by Holder in connection
with such action, including but not limited to attorney’s fees (collectively, “Other Fees”), together with interest
thereon, which shall be payable upon demand.

 

10.
Reporting and Other Matters. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by it with the Securities and Exchange Commission (“SEC”), pursuant to the Securities Exchange Act of
1934, as amended, for the two years preceding the date hereof and all information Holder can reasonably be expected to require
to make a decision to enter into this Note is disclosed in such filings. The Company is, and has no reason to believe that it
will not in the foreseeable future continue to be, in compliance with the listing and maintenance requirements for continued listing
or quotation of the Company Common Stock on the trading market on which the Company Common Stock is currently listed or quoted.
The Company’s entering into this Note does not contravene the rules and regulations of the trading market on which the Company
Common Stock is currently listed or quoted, and no approval of the stockholders of the Company is required for the Company to
enter into this Note. The Company shall maintain the Common Stock’s listing or authorization for quotation (as the case
may be) on the trading market on which the Company Common Stock is currently listed or quoted, or on a US market that would generally
deemed to be an uplisting thereto (such as the NASDAQ or NYSE) so long as any amounts are due to Holder under this Note. Neither
the Company nor any of its subsidiaries shall take any action which could be reasonably expected to result in the delisting or
suspension of the Common Stock on its listed market. In the event that the Company is no longer current in its reporting obligations
under the Exchange Act, then the Company, upon request by Holder, shall provide to Holder financial statements, corporate updates,
and other information that will allow Holder to evaluate its investment in the Note and determine the accounting value thereof
(“Valuation Information”), on a basis no less frequent than quarterly.

 

    	 	 	Page 3

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be issued as of the Issuance Date and Holder agrees to the terms and conditions
of this Note.

 

	 	COMPANY:
	 	BARFRESH
    FOOD GROUP, INC.,
	 	a Delaware corporation
	 	 	 
	 	By:
    	 
	 	Name: 	Joseph
    S. Tesoriero
	 	Its:	Chief
    Financial Officer

 

    	 	 	Page 4

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