Document:

CONVERTIBLE
PROMISSORY NOTE

 

	Amount:
    $90,000	 	July
    15, 2015

 

MINDPIX
CORPORATION, a Nevada corporation with offices at 940 Lincoln Road, Suite 315, Miami Beach, Florida
(herein called the “Maker”), for value received, hereby promises to pay to Victor Siegel, a resident
of the State of Florida (“Payee”), on the Maturity Date (hereinafter defined), or earlier as hereinafter provided,
the principal sum of Ninety Thousand Dollars ($90,000) (the “Principal”), and to pay interest on such Principal
on the Maturity Date (or on any such earlier date), as set forth below.

 

1.
Basis of Debt. Siegel is the President and Chief Executive officer of the Maker. So that all available funds could
be used for the operations of the Maker, Siegel’s salary and expenses were accrued. The total amount due to Siegel for the
months of May, June and July 2015 is equal to the principal amount of this Note.

 

2.
Definitions.

 

(a)
The term “Conversion Notice” shall have the meaning ascribed to it in Section 8(b) hereof.

 

(b)
The term “Conversion Price” shall mean the lesser of (i) the per share price of the Maker’s common
stock on the date of the Conversion Notice provided for herein in Section 8(a) hereof, or (ii) the lowest price per share
price paid to Maker by any investor for shares of the Maker’s common stock prior to the Maturity Date.

 

(c)
The term “Conversion Shares” shall have the meaning ascribed to it in Section 8(a) hereof.

 

(d)
The term “Maturity Date” shall mean December 30, 2015.

 

(e) The
term “Event of Default” shall mean any event specified in Section 9(a) of this Note.

 

(f) The term “Termination Date” shall have the meaning ascribed to it in Section 9(b) hereof.

 

3.
Payment Terms. The Maker shall irrevocably and unconditionally pay to Payee, without set-off or deduction, the Principal
of this Note on the earlier of the Maturity Date or the Termination Date. The Principal shall bear interest on the unpaid amount
thereof from the date of this Note until paid in full, at the rate of six percent (6%) per annum. Interest shall be payable upon
maturity or acceleration. Payment is to be made in common stock of the company pursuant to Conversion Price as defined herein
or in cash, at the option of the Payee and shall be calculated on the basis of a year consisting of 365 days. Interest on the
Principal amount of this Note following an Event of Default shall accrue at the rate of eighteen percent (18%) per annum, until
paid. In no event shall Payee be entitled to receive interest in excess of the legally permissible rate of interest. In the event
that Payee receives payments under this Note that are deemed excessive interest under applicable law, such excess will be applied
first to the costs referred to in Section 12 hereof and then to the Principal of this Note. If, in such instance, such costs and
the Principal are paid in full, any remaining excess shall be refunded to by the Maker.

 

    	 

    	 

    

 

4.
Acceleration. Notwithstanding any provision of this Note to the contrary, upon the occurrence of an Event of Default
(hereinafter defined) under this Note, the Principal and all then accrued interest thereon shall become immediately due and payable,
without demand, notice or other action by Payee. All payments received by Payee after an Event of Default under this Note will
be applied first to the costs referred to in Section 12 hereof, then to all accrued interest hereunder and next to the Principal
of this Note.

 

5.
Place and Manner of Payment. All payments of Principal and interest under this Note (and all other amounts payable
hereunder) shall be made to Payee on the Maturity Date, or earlier as and to the extent provided in this Note, at the address
of Payee hereinbefore set forth or, at Payee’s request, to Payee at such other place as Payee may, from time to time, designate
in writing (or by wire transfer pursuant to written instructions provided to Maker by Payee). If any payment hereunder becomes
due on a Saturday, Sunday or legal holiday, such payment shall become due on the next business day. All payments of Principal
and interest under this Note shall be deemed made only upon receipt by Payee.

 

 6. Prepayment. 

 

(a) The Maker shall have the right to prepay the unpaid Principal of this Note, and/or any accrued interest thereon, in whole
or in part, at any time prior to the Maturity Date.

 

(b) Subject to the terms of Section 8 hereof (and only after Payee has no conversion rights hereunder), notwithstanding any provision
of this Note to the contrary, the Principal of this Note, and all accrued interest thereon, shall be mandatorily prepayable from
the proceeds of any equity or debt financing received by Maker prior to the Maturity Date. The Maker will provide notice to Payee
at least ten (10) days prior to the closing of any such financing and Payee shall be entitled to exercise its conversion rights
under Section 8 of this Note on or within five (5) days after any such closing.

 

 7. Security. This note is unsecured.

 

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8.
Conversion.

 

(a) Notwithstanding
any provision of this Note to the contrary, the Maker hereby agrees that the unpaid Principal amount of this Note, and all accrued
and unpaid interest thereon, shall be convertible, in whole or in part, at the option of Payee, into such number of shares of
the Maker’s common stock as shall be determined by dividing the total of the unpaid Principal amount of this Note, and all
accrued interest thereon, by the Conversion Price (the “Conversion Shares”). The Conversion Price per share
shall be the lesser of (i) $.0002 per share or (i) 20% of the average of the five lowest intra-day trading prices for the Company’s
stock during the previous 20 trading days. Payee may elect to convert this Note, as aforesaid, at any time prior to the Maturity
Date, Termination Date, or any date provided for under Section 6(b) hereof.

 

(b) This Note may be converted by Payee by surrender of this Note with a notice of conversion duly executed by Payee and
delivered to Maker at its principal office (the “Conversion Notice”). Any such conversion shall be deemed to
have been effected on the date on which this Note shall have been so surrendered to Maker and Payee’s rights as a shareholder
of Maker shall be deemed to be effective on the date thereof.

 

(c) Upon,
or as promptly as practicable after the conversion of this Note (but in no event later than three (3) trading days thereafter),
the Maker will issue and deliver to the holder of this Note, or otherwise as such holder may direct, a certificate or certificates
for the number of full shares of Maker’s common stock issuable upon such conversion, plus, in lieu of any fractional shares
to which such holder would otherwise be entitled, a cash payment in an amount equal to the amount of any accrued interest remaining
by reason of their being a fractional share not issued to Payee upon such conversion. Alternatively, the Holder may request the
shares issuable upon conversion by sent via DWAC to the Holder’s designated brokerage account.

 

(d) Notwithstanding anything to the contrary contained herein, if the Company is a reporting issuer or becomes a reporting issuer
subject to the reporting requirements of the Securities Exchange Act of 1934, the number of Conversion Shares that may be acquired
by the Payee upon conversion of this Note (or otherwise in respect hereof) shall be limited to the extent necessary to ensure
that, following such conversion (or other issuance), the total number of shares of Common Stock then beneficially owned by such
Payee and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the Payee’s
for purposes of Section 13(d) of the 1934 Act, does not exceed 4.999% of the total number of issued and outstanding shares of
Common Stock (including for such purpose the shares of Common Stock issuable upon such conversion). For such purposes, beneficial
ownership shall be determined in accordance with Section 13(d) of the 1934 Act and the rules and regulations promulgated thereunder.
By written notice to the Company, Payee may waive the provisions of this Section as to itself but any such waiver will not be
effective until the 61st day after delivery thereof.

 

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(e) Notwithstanding
anything to the contrary contained herein, if the Company at the time of conversion is not a reporting issuer subject to the reporting
requirements of the Securities Exchange Act of 1934, the number of Conversion Shares that may be acquired by the Payee upon conversion
of this Note (or otherwise in respect hereof) shall be limited to the extent necessary to ensure that, following such conversion
(or other issuance), the total number of shares of Common Stock then beneficially owned by such Payee and its affiliates and any
other persons whose beneficial ownership of Common Stock would be aggregated with the Payee’s for purposes of Section 13(d)
of the 1934 Act, does not exceed 9.999% of the total number of issued and outstanding shares of Common Stock (including for such
purpose the shares of Common Stock issuable upon such conversion). For such purposes, beneficial ownership shall be determined
in accordance with Section 13(d) of the 1934 Act and the rules and regulations promulgated thereunder.

 

9.
Default.

 

(a)
If one or more of the following events shall occur for any reason whatsoever (and whether such occurrence shall be voluntary
or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body), each such event shall, for
purposes of this Note, be deemed an “Event of Default”:

 

(i)
 default by the Maker in payment of the Principal of this Note or any accrued interest hereunder, as and when the same shall
become due and payable, whether at Maturity or on a date fixed for payment, prepayment, or by acceleration or otherwise; or

 

 (ii) default
by the Maker in the performance or observance by it of any other covenant, agreement, term or condition contained in this Note;
or

 

 (iii)
 default under the Payee’s Employment Agreement; or

 

 (iv) the Maker’s making of an assignment for the benefit of its creditors or admitting in writing its inability to pay
its debts generally as they become due; or

 

 (v) the
entry of a final order, judgment or decree adjudicating the Maker bankrupt or insolvent; or

 

 (vi) the
Maker’s petitioning or applying to any court of competent jurisdiction or other tribunal for the appointment of a trustee
or receiver, or of any substantial part of its assets or properties, or the commencement by the Maker of any proceedings under
any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution, or similar law of any jurisdiction whether now
or hereafter in effect; or the filing of any such petition or application, or the commencement of any such proceedings, against
the Maker, if the Maker by any act indicates its approval thereof, consents or acquiesces therein, or the entry of any order,
judgment or decree appointing any such trustee or receiver, or approves the petition in any such proceedings, if such order, judgment
or decree remains unstayed or unbonded and in effect for more than thirty (30) days;

 

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=

 (vii) the
dismissal of the Payee from his position as President and Chief Executive officer, or his removal from the Board of Directors,
by a vote of the shareholders or otherwise.

 

(b) Upon
the occurrence of an Event of Default, the holder of this Note may, by notice in writing to the Maker, declare the Principal of
this Note then outstanding, and all interest accrued thereon, to be immediately due and payable without presentment, demand or
other notice of any kind, all of which are hereby waived, and upon any such notice the same shall become and shall be immediately
due and payable, notwithstanding anything contained in this Note to the contrary (the “Termination Date”).

 

10.
Loan Reinstatement. If, at any time after payment in full of this Note, any payments previously made under this
Note must be disgorged by the Payee for any reason whatsoever, this Note shall be reinstated as to all disgorged payments as if
such payments had not been made, until payment in full of all obligations of the Maker under this Note are made.

 

11.
Waiver of Presentment, Demand and Notice. The Maker hereby waives presentment for payment, demand, notice of demand,
notice of non-payment or dishonor, protest and notice of protest of this Note, and all other notices in connection with the delivery,
acceptance, performance, default, or enforcement of the terms of this Note (except as specifically provided elsewhere in this
Note) and the Maker hereby agrees that its liability under this Note shall be without regard to the liability of any other party,
including any guarantor of this Note, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver
or modification granted or consented to by Payee. The Maker hereby agrees that additional makers, endorsers, guarantors or sureties
may become parties to this Note without notice to the Maker and without affecting the Maker’s liability hereunder.

 

12.
Costs of Collection. In the event that Payee shall take any action to enforce its rights under this Note after an
Event of Default, including the commencement of any legal action or proceeding to enforce the terms of this Note (or takes any
action to enforce its security interest in the Pledged Shares following an Event of Default under this Note), the Payee shall
be entitled to recover from the Maker, upon demand, all costs and expenses incurred by it in connection therewith (including,
without limitation, all of Payee’s attorneys’ fees and disbursements), together with interest on any judgment obtained
against Maker, at the then prevailing legal rate of interest.

 

13.
Remedies Cumulative. The rights and remedies of Payee provided in this Note shall be cumulative and concurrent and
exclusive of all rights and remedies provided by law or in equity and Payee may, at its election, pursue its rights and remedies
against the Maker hereunder or thereunder, singly, successively, or together, at the sole discretion of Payee, and all of such
rights and remedies may be exercised separately as often as occasion therefor shall occur. The failure of Payee to exercise any
such right or remedy shall in no event be construed as a waiver or release thereof.

 

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14.
Severability. If any provision of this Note is held to be invalid or unenforceable by a court of competent jurisdiction,
the other provisions of this Note shall remain in full force and effect and shall be unaffected thereby.

 

15.
No Waiver by Payee. Payee shall not be deemed, by any act of omission or commission, to have waived any of its rights
or remedies hereunder unless such waiver is in writing and signed by Payee, and then only to the extent specifically set forth
in any such writing. A waiver of one event shall not be construed as continuing or constitute a bar to or waiver of any right
or remedy with respect to a subsequent event.

 

16.
Modification; Governing Law. The provisions of this Note may not be modified or amended except by an instrument
in writing signed by the party to be bound thereby. This Note and the respective rights and obligations of the Maker and Payee
hereunder shall be governed by and construed in accordance with the laws of the State of Florida with respect to contracts made
and to be fully performed therein and without regard to the principles of conflicts of laws thereof. The parties hereto agree
that any legal action or proceeding brought to enforce the terms of this Note shall be brought in the state or federal courts
located in Broward County, Florida, or any other court of competent jurisdiction selected by Payee, and the parties hereto agree
not to challenge the selection of that venue in any such proceeding for any reason, including, without limitation, on the grounds
that such venue is an inconvenient forum. The parties hereto specifically agree that service of process in any such proceeding
may be made, and such service of process shall be effective if made, pursuant to Section 17 hereto.

 

17.
Notices. All notices, consents, requests, demands and other communications required or permitted to be given under
this Note shall be in writing and delivered personally, receipt acknowledged, or mailed by registered or certified mail, postage
prepaid, return receipt requested, addressed to the parties hereto at their respective addresses set forth on the first page of
this Note (or to such other address as either of the parties hereto shall specify by notice given in accordance with this provision).
All such notices, consents, requests, demands and other communications shall be deemed given when personally delivered, as aforesaid,
or, if mailed as aforesaid, on the third business day after the mailing thereof or on the day actually received, if earlier, except
for a notice of a change of address which shall be effective only upon receipt.

 

18.
Binding Effect. This Note shall be binding upon the Maker and its successors and permitted assigns and shall inure
to the benefit of Payee and its successors and assigns. The Maker shall not have the right to assign this Note, or any of its
obligations hereunder, without the written consent of Payee, which consent shall be within Payee’s sole and absolute discretion.

  

[SIGNATURE
PAGE FOLLOWS]

  

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IN
WITNESS WHEREOF, the Maker, intending to be legally bound hereby, has caused this Note to be signed in its name by its duly
authorized President and to be dated the day and year above written.

  

	 	MINDPIX CORPORATION
	 	 	 
	 	By:	 
	 	 	Victor
    Siegel
	 	 	Chief
    Executive Officer

  

	 	By:	
	 	 	Julius
    John
	 	 	Director

 

    	7NEITHER
THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE 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.

 

	July
    22, 2015	$20,000

 

MINDPIX
CORPORATION

(OTC:
MPIX)

 

8%
Convertible Debenture

 

Due
July 22, 2016

 

FOR
VALUE RECEIVED, MINDPIX CORPORATION, a Nevada corporation (hereinafter called the “Borrower” or the “Company”),
hereby promises to pay to Sidney and Gloria Lorio (the “Holder”) without demand, the sum of TWENTY
THOUSAND Dollars ($20,000), with simple interest accruing at the rate described below, on July 22, 2016 (the
“Maturity Date”).

 

NOW
THEREFORE, the following terms shall apply to this Note:

 

ARTICLE
I

GENERAL
PROVISIONS

 

1.1
Payments. The entire unpaid principal amount due under this Note (the “Principal”) shall be due and
payable on the Maturity Date. Interest on this Note (the “Interest”) will be payable on the Maturity Date.
Interest shall be payable in cash or, at the Holder’s option, in shares of the Company’s common stock, $.0001 par
value per share (the “Common Stock”).

 

 Upon
any conversion in part by the Holder in accordance with Article II, the Holder and the Borrower shall in good faith recalculate
the outstanding principal balance. Upon any full conversion by the Holder in accordance with Article II of all of the Interest
and the Principal due hereunder, all of the Borrower’s payment obligations shall terminate. All payments in respect of the
indebtedness evidenced hereby shall be applied in the following order: to accrued Interest, Principal, and charges and expenses
owing under or in connection with this Note.

 

 If
any payment of interest is paid in Common Stock, the number of shares issuable will be determined utilizing the conversion ratio
as set forth in Article II. Notwithstanding the foregoing, the Company’s right to pay , including any Interest due thereunder,
in shares of Common Stock upon the Maturity Date is subject to the condition that: (i) the Common Stock is trading on the OTC
Markets (Pink Sheets), OTC Bulletin Board, American Stock Exchange or Nasdaq; and (ii) there is an effective Registration Statement
on the Maturity Date or the shares are otherwise eligible for resale pursuant to Rule 144 and payment thereof in full will not
exceed the Maximum Conversion as defined below.

 

1.2
Interest. Interest shall accrue on the outstanding principal balance hereof at an annual rate equal to eight percent (8%)
from the date Principal was advanced in connection with this Note and shall be payable annually unless otherwise converted earlier
at the election of the Holder as further described below. Interest shall be calculated on the basis of a 360-day year and the
actual number of days elapsed, to the extent permitted by applicable law. Interest hereunder will be paid to the Holder or its
assignee in whose name this Note is registered on the records of the Borrower regarding registration and transfers of Notes (the
“Note Register”). However, should the Company fail to maintain current public information as defined in Rule
144 of the Securities Act of 1933, the interest rate shall increase to 18% per annum for that period when the Company’s
filings are not up-to-date.

 

    	 

    	 

    

 

1.3
Payment Grace Period. From and after the 10th day after an Event of Default under Section 3.1, the Interest Rate applicable
to any unpaid amounts owed hereunder shall be increased to eighteen percent (18%) per annum.

 

1.4
Conversion Privileges. The conversion privileges set forth in Article II shall remain in full force and effect immediately
from the date hereof and until the Note is paid in full regardless of the occurrence of an Event of Default. This Note shall be
payable in full on the Maturity Date, unless previously converted into Common Stock in accordance with Article II hereof; provided,
that if an Event of Default has occurred, the Holder may elect to extend the Maturity Date by the amount of days of the pendency
of the Event of Default.

 

1.5
Corporate Existence. So long as remains outstanding, the Company shall not directly or indirectly consummate any merger,
reorganization, restructuring, reverse stock split, consolidation, sale of all or substantially all of the Company’s assets
or any similar transaction or related transactions (each such transaction, a “Fundamental Change”) where the
Company is not the surviving entity unless, prior to the consummation a Fundamental Change, the Company shall have given the Holder
not less than fourteen (14) days prior written notice to the Holder. In any such case, the Company grant the Holder the right
to put this Note to the Company up to the time of the effectiveness of the Fundamental Change at 125% of the then outstanding
Principal plus any unpaid and accrued Interest.

 

This
Note is subject to the following additional provisions:

 

ARTICLE
II

CONVERSION
RIGHTS AND REDEMPTION RIGHTS

 

The
Holder shall have the right to convert the principal and accrued and unpaid interest due under this Note into Shares of the Borrower’s
Common Stock as set forth below.

 

2.1
Conversion into the Borrower’s Common Stock.

 

(a)
The Holder shall have the right from and after the date of the issuance of this Note and then at any time until this Note is fully
paid, to convert any outstanding and unpaid principal portion of this Note, and accrued Interest, at the election of the Holder
(the date of giving of such notice of conversion being a “Conversion Date”) into fully paid and non-assessable
shares of Common Stock as such stock exists on the date of issuance of this Note (such shares, the “Conversion Shares”),
or any shares of capital stock of Borrower into which such Common Stock shall hereafter be changed or reclassified (the “Other
Securities”), at the conversion price as defined in Section 2.1(b) hereof (the “Conversion Price”),
determined as provided herein. Upon delivery to the Borrower of a completed Notice of Conversion, a form of which is attached
hereto as Exhibit A, Borrower shall issue and deliver to the Holder within three (3) business days from the Conversion
Date (such third day being the “Delivery Date”) that number of Conversion Shares for the portion of the Note
converted in accordance with the foregoing. At the election of the Holder, the Borrower will deliver accrued but unpaid interest
on the principal amount of the Note being converted in the manner provided in Section 1.1 through the Conversion Date directly
to the Holder on or before the Delivery Date. The number of Conversion Shares to be issued upon each conversion of this Note shall
be determined by dividing that portion of the principal of this Note and accrued interest to be converted, by the Conversion Price.

 

(b) Subject
to adjustment as provided in Section 2.1(c) hereof, the Conversion Price per share shall be the lesser of (i) $.0002 per share
or (i) 20% of the average of the five lowest intra-day trading prices for the Company’s stock during the previous 20 trading
days.

 

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(c)
The Conversion Price and number and kind of shares or other securities to be issued upon conversion determined pursuant to Section
2.1(a), shall be subject to adjustment from time to time upon the happening of the following certain events while this conversion
right remains outstanding:

 

A.
Reorganization, Consolidation, Merger, etc.; Reclassification. In case at any time or from time to time, the Company shall,
subject to Section 1.5 hereof, effect a Fundamental Change, then, in each such case, as a condition to the consummation of such
a transaction, proper and adequate provision shall be made by the Company whereby the Holder of this Note, on the conversion hereof
as provided in Article II, at any time after the consummation of such Fundamental Change, shall receive, in lieu of the Conversion
Shares (or Other Securities) issuable on such conversion prior to such consummation or such effective date, the stock and other
securities and property (including cash) to which such Holder would have been entitled upon such consummation of a Fundamental
Change if such Holder had so converted this Note, immediately prior thereto, all subject to further adjustment thereafter as provided
in Section 2.1(c)(E).

 

If the Borrower at any time shall, by reclassification or otherwise, change the Common Stock into the same or a different
number of securities of any class or classes that may be issued or outstanding, this Note, as to the unpaid principal portion
thereof and accrued interest thereon, shall thereafter be deemed to evidence the right to purchase an adjusted number of such
securities and kind of securities as would have been issuable as the result of such change with respect to the Common Stock
immediately prior to such reclassification or other change.

 

B.
Dissolution. In the event of any dissolution of the Company following the transfer of all or substantially all of its properties
or assets, the Company, prior to such dissolution, shall at its expense deliver or cause to be delivered the stock and other securities
and property (including cash, where applicable) receivable by the Holder of this Note after the effective date of such dissolution
pursuant to this Article II to a bank or trust company (a “Trustee”) having its principal office in New York,
NY, as trustee for the Holder of the Notes.

 

C.
Continuation of Terms. Upon any Fundamental Change or transfer (and any dissolution following any transfer) referred to
in this Article II, this Note shall continue in full force and effect and the terms hereof shall be applicable to the Other Securities
and property receivable on the conversion of this Note after the consummation of such Fundamental Change or transfer or the effective
date of dissolution following any such transfer, as the case may be, and shall be binding upon the issuer of any other securities,
including, in the case of any such transfer, the person acquiring all or substantially all of the properties or assets of the
Company, whether or not such person shall have expressly assumed the terms of this Note as provided in Section 2.1(c)(E). In the
event this Note does not continue in full force and effect after the consummation of the transaction described in this Article
II, then only in such event will the Company’s securities and property (including cash, where applicable) receivable by
the Holder of this Note be delivered to the Trustee as contemplated by Section 2.1(c)(B).

 

D.
Share Issuance. If at any time this Note is outstanding the Company shall offer, issue or agree to issue any common stock
or securities convertible into or exercisable for shares of common stock (or modify any of the foregoing which may be outstanding)
to any person or entity at a price per share or conversion or exercise price per share which shall be less than the then applicable
Conversion Price in respect of the Shares, without the consent of the Holders of this Note, except with respect to Excepted Issuances,
then the Company shall issue, for each such occasion, additional shares of Common Stock to each Holder so that the average per
share purchase price of the shares of Common Stock issued to the Holder (of only the Conversion Shares still owned by the Holder)
is equal to such other lower price per share and the Conversion Price shall automatically be reduced to such other lower price
per share. For the purposes hereof, “Excepted Issuances” means any offer, issuance or agreement to issue any common
stock or securities convertible into or exercisable for shares of common stock (or modify any of the foregoing which may be outstanding)
in connection with (i) full or partial consideration in connection with a strategic merger, consolidation or purchase of substantially
all of the securities or assets of corporation or other entity, (ii) the Company’s issuance of securities in connection
with strategic license agreements and other partnering arrangements so long as such issuances are not for the purpose of raising
capital, (iii) the Company’s issuance of Common Stock or the issuance or grants of options to purchase Common Stock pursuant
to the Company’s stock option plans and employee stock purchase plans, (iv) the conversion of any of the Notes or notes
previously issued as long there is not a subsequent change in terms, (v) the payment of any interest on the Notes, and (vi) as
has been described in the Reports filed with the Commission or delivered to the Holder prior to the issuance of this Note (collectively,
the “Excepted Issuances”). The delivery to the Holder of the additional shares of Common Stock shall be not later
than the closing date of the transaction giving rise to the requirement to issue additional shares of Common Stock. For purposes
of the issuance and adjustment described in this paragraph, the issuance of any security of the Company carrying the right to
convert such security into shares of Common Stock or of any warrant, right or option to purchase Common Stock shall result in
the issuance of the additional shares of Common Stock upon the issuance of such convertible security, warrant, right or option
and again at any time upon any subsequent issuances of shares of Common Stock upon exercise of such conversion or purchase rights
if such issuance is at a price lower than the Conversion Price in effect upon such issuance. The rights of the Holder set forth
in this Section 2.1 (c)(D), are in addition to any other rights the Holder has pursuant to this Note, any Transaction Document
and any other agreement referred to or entered into in connection herewith.

 

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E.
Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common
Stock as a dividend or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or
(c) subject to Section 1.5 hereof, combine its outstanding shares of the Common Stock into a smaller number of shares of the Common
Stock, then, in each such event, the Conversion Price shall, simultaneously with the happening of such event, be adjusted by multiplying
the then Conversion Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately
prior to such event and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such
event, and the product so obtained shall thereafter be the Conversion Price then in effect. The Conversion Price, as so adjusted,
shall be readjusted in the same manner upon the happening of any successive event or events described herein in this Section 2.1(c)(E).
The number of Conversion Shares that the Holder of this Note shall thereafter, on the conversion hereof as provided in Article
II, be entitled to receive shall be adjusted to a number determined by multiplying the number of Conversion Shares that would
otherwise (but for the provisions of this Section 2.1(c)(E)) be issuable on such conversion by a fraction of which (a) the numerator
is the Conversion Price that would otherwise (but for the provisions of this Section 2.1(c)(E)) be in effect, and (b) the denominator
is the Conversion Price in effect on the date of such conversion.

 

F.
Certificate as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock (or Other Securities)
issuable on the conversion of the Notes, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate
designee to compute such adjustment or readjustment in accordance with the terms of the Note and prepare a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including
a statement of (a) the consideration received or receivable by the Company for any additional shares of Common Stock (or Other
Securities) issued or sold or deemed to have been issued or sold, (b) the number of shares of Common Stock (or Other Securities)
outstanding or deemed to be outstanding, and (c) the Conversion Price and the number of Conversion Shares to be received upon
conversion of this Note, in effect immediately prior to such adjustment or readjustment and as adjusted or readjusted as provided
in this Note. The Company will forthwith mail a copy of each such certificate to the Holder of the Note and any transfer agent
of the Company.

 

2.2
Method of Conversion. This Note may be converted by the Holder in whole or in part as described in Section 2.1(a) hereof.
Upon partial conversion of this Note, a new Note containing the same date and provisions of this Note shall, at the request of
the Holder, be issued by the Borrower to the Holder for the principal balance of this Note and interest which shall not have been
converted or paid.

 

2.3
Issuance Below Par. The Parties hereto agree that Nevada Law allows for the issuance of conversion shares under this section
even if such conversion price is less than the shares’ stated par value, and that such shares shall be issued in response
to a Conversion Request regardless of Conversion Price.

 

2.4
Intentionally Left Blank. 

 

    	4

    	 

    

 

2.5
Conversion of Note.

 

(a) Upon
the conversion of this Note or part thereof, the Company shall, at its own cost and expense, take all necessary action, including
obtaining and delivering, an opinion of counsel to assure that the Company’s transfer agent shall issue stock certificates
in the name of Holder (or its nominee) or such other persons as designated by Holder and in such denominations to be specified
at conversion representing the number of Conversion Shares issuable upon such conversion. The Company warrants that no instructions
other than these instructions have been or will be given to the transfer agent of the Company’s Common Stock and that, unless
waived by the Holder, the Conversion Shares will be free-trading, and freely transferable, and will not contain a legend restricting
the resale or transferability of the Conversion Shares provided the Conversion Shares are being sold pursuant to an effective
registration statement covering the Conversion Shares or are otherwise exempt from registration.

 

(b)
Subscriber will give notice of its decision to exercise its right to convert this Note or part thereof by telecopying an executed
and completed Notice of Conversion (a form of which is attached as Exhibit A to the Note) to the Company via confirmed
telecopier transmission or overnight courier or otherwise pursuant to Section 4.2 of this Note. The Subscriber will not be required
to surrender this Note until this Note has been fully converted or satisfied, with each date on which a Notice of Conversion is
telecopied to the Company in accordance with the provisions hereof shall be deemed a Conversion Date (as defined above). The Company
will itself or cause the Company’s transfer agent to transmit the Company’s Common Stock certificates representing
the Conversion Shares issuable upon conversion of this Note to the Subscriber via express courier for receipt by such Subscriber
on or before the Delivery Date (as defined above). In the event the Conversion Shares are electronically transferable, then delivery
of the Conversion Shares must be made by electronic transfer provided request for such electronic transfer has been made by the
Subscriber and the Subscriber has complied with all applicable securities laws in connection with the sale of the Common Stock,
including, without limitation, the prospectus delivery requirements. A Note representing the balance of this Note not so converted
will be provided by the Company to the Subscriber if requested by Subscriber, provided the Subscriber delivers the original Note
to the Company.

 

(c)
Nothing contained herein or in any document referred to herein or delivered in connection herewith shall be deemed to establish
or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law. In the event
that the rate of interest or dividends required to be paid or other charges hereunder exceed the maximum permitted by such law,
any payments in excess of such maximum shall be credited against amounts owed by the Company to the Holder and thus refunded to
the Company.

 

2.6
Injunction Posting of Bond. In the event a Holder shall elect to convert a Note or part thereof in whole or in part, the
Company may not refuse conversion based on any claim that such Holder or any one associated or affiliated with such Holder has
been engaged in any violation of law, or for any other reason, unless an injunction from a court, on notice, restraining and or
enjoining conversion of all or part of such Note shall have been sought and obtained by the Company and the Company has posted
a surety bond for the benefit of such Holder in the amount of 120% of the amount of the Note, which bond shall remain in effect
until the completion of arbitration/litigation of the dispute and the proceeds of which shall be payable to such Holder to the
extent Holder obtains judgment.

 

    	5

    	 

    

 

2.7
Optional Redemption.

 

(a) Provided
that the Company has a number of authorized but unissued shares of Common Stock sufficient for the issuance of all Conversion
Shares underlying the remaining principal amount of this Note, such Common Stock is listed or quoted (and is not suspended from
trading) on the Principal Market and such shares of Common Stock are approved for listing on such Principal Market upon issuance
if applicable, such Common Stock is registered for resale under the Registration Statement and the prospectus under such Registration
Statement is available for the sale of all Registrable Securities held by the Subscriber or there is an applicable exemption from
registration, such issuance would be permitted in full without violating Section 2.3 herein or the rules or regulations of any
trading market on which such Common Stock may be listed or quoted, and both immediately before and after giving effect thereto,
no Event of Default under this Note shall or would exist, the Borrower will have the option of prepaying the outstanding principal
amount of this Note (“Optional Redemption”), in whole or in part, together with interest accrued thereon, by
paying to the Holder a sum of money equal to one hundred twenty-five percent (125%) of the principal amount to be redeemed, together
with accrued but unpaid interest thereon and interest that will accrue until the actual repayment date and any and all other sums
due, accrued or payable to the Holder arising under the Note or any Transaction Document (the “Redemption Amount”)
on the day written notice of redemption (the “Notice of Redemption”) is given to the Holder. The Notice of Redemption
shall specify the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be not
less than five (5) business days after the date of the Notice of Redemption (the “Redemption Period”). A Notice
of Redemption shall not be effective with respect to any portion of this Note for which the Holder has a pending election to convert,
or for Conversion Notices given by the Holder prior to the Redemption Payment Date. On the Redemption Payment Date, the Redemption
Amount shall be paid in good funds to the Holder. In the event the Borrower fails to pay the Redemption Amount on the Redemption
Payment Date as set forth herein, then (i) such Notice of Redemption will be null and void, (ii) Borrower will have no further
right to deliver another Notice of Redemption, and (iii) Borrower’s failure may be deemed by Holder to be a non-curable
Event of Default.

 

2.8
Mandatory Redemption at Subscriber’s Election. In the event the Company is prohibited from issuing Conversion Shares,
or fails to timely deliver Shares on a Delivery Date, or upon the occurrence of any other Event of Default (as defined in this
Note) or for any reason other than pursuant to the limitations set forth in Section 2.3 hereof, then at the Subscriber’s
election, the Company must pay to the Subscriber ten (10) business days after request by the Subscriber, at the Subscriber’s
election, a sum of money in immediately available terms equal to the greater of (i) the product of the outstanding principal amount
of the Note designated by the Subscriber multiplied by 125%, or (ii) the product of the number of Conversion Shares otherwise
deliverable upon conversion of an amount of Note principal and/or interest designated by the Subscriber (with the date of giving
of such designation being a “Deemed Conversion Date”) at the then Conversion Price that would be in effect
on the Deemed Conversion Date multiplied by the average of the closing bid prices for the Common Stock for the five consecutive
trading days preceding either: (1) the date the Company becomes obligated to pay the Mandatory Redemption Payment, or (2) the
date on which the Mandatory Redemption Payment is made in full, whichever is greater, together with accrued but unpaid interest
thereon and any liquidated damages then payable (“Mandatory Redemption Payment”). The Mandatory Redemption
Payment must be received by the Subscriber on the same date as the Company Shares otherwise deliverable or within ten (10) business
days after request, whichever is sooner (“Mandatory Redemption Payment Date”). Upon receipt of the Mandatory
Redemption Payment, the corresponding Note principal and interest will be deemed paid and no longer outstanding. Liquidated damages
calculated pursuant to Section 2.5(c) hereof, that have been paid or accrued for the twenty (20) day period prior to the actual
receipt of the Mandatory Redemption Payment by the Subscriber shall be credited against the Mandatory Redemption Payment.

 

2.9
Buy-In. In addition to any other rights available to the Subscriber, but without any duplicative recovery by the Subscriber,
if the Company fails to deliver to the Subscriber the Conversion Shares issuable upon conversion of this Note by the Delivery
Date and if after five (5) business days after the Delivery Date the Subscriber purchases (in an open market transaction or otherwise)
shares of Common Stock to deliver in satisfaction of a sale by such Subscriber of the Common Stock which the Subscriber was entitled
to receive upon such conversion (a “Buy-In”), then the Company shall pay in cash to the Subscriber (in addition
to any remedies available to or elected by the Subscriber) the amount by which (A) the Subscriber’s total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (B) the aggregate principal and/or
interest amount of the Note for which such conversion was not timely honored, together with interest thereon at a rate of 15%
per annum, accruing until such amount and any accrued interest thereon is paid in full (which amount shall be paid as liquidated
damages and not as a penalty). For example, if the Subscriber purchases shares of Common Stock having a total purchase price of
$11,000 to cover a Buy-In with respect to an attempted conversion of $10,000 of note principal and/or interest, the Company shall
be required to pay the Subscriber $1,000, plus interest. The Subscriber shall provide the Company written notice indicating the
amounts payable to the Subscriber in respect of the Buy-In.

  

    	6

    	 

    

 

2.10
Reservation. During the period the conversion right exists, Borrower will reserve from its authorized and unissued Common
Stock a number of shares of Common Stock equal to 150% of the amount of Common Stock issuable upon the full conversion of this
Note. Borrower represents that upon issuance, such shares will be duly and validly issued, fully paid and non-assessable. Borrower
agrees that its issuance of this Note shall constitute full authority to its officers, agents, and transfer agents who are charged
with the duty of executing and issuing stock certificates to execute and issue the necessary certificates for shares of Common
Stock upon the conversion of this Note.

 

2.11
Maximum Conversion

 

(a)
Notwithstanding anything to the contrary contained herein, if the Company is reporting issuer filing period reports with the SEC,
the number of Conversion Shares that may be acquired by the Holder upon conversion of this Note (or otherwise in respect hereof)
shall be limited to the extent necessary to ensure that, following such conversion (or other issuance), the total number of shares
of Common Stock then beneficially owned by such Holder and its affiliates and any other persons whose beneficial ownership of
Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the 1934 Act, does not exceed 4.999%
of the total number of issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable
upon such conversion). For such purposes, beneficial ownership shall be determined in accordance with Section 13(d) of the 1934
Act and the rules and regulations promulgated thereunder. By written notice to the Company, a Subscriber may waive the provisions
of this Section 2.3(a) as to itself but any such waiver will not be effective until the 61st day after delivery thereof and such
waiver shall have no effect on any other Subscriber.

 

(b) Notwithstanding
anything to the contrary contained herein, the number of Conversion Shares that may be acquired by the Holder upon conversion
of this Note (or otherwise in respect hereof) shall be limited to the extent necessary to ensure that, following such conversion
(or other issuance), the total number of shares of Common Stock then beneficially owned by such Holder and its affiliates and
any other persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section
13(d) of the 1934 Act, does not exceed 9.999% of the total number of issued and outstanding shares of Common Stock (including
for such purpose the shares of Common Stock issuable upon such conversion). For such purposes, beneficial ownership shall be determined
in accordance with Section 13(d) of the 1934 Act and the rules and regulations promulgated thereunder. This provision may not
be waived.

 

(c) Nowithstanding
sections (a) and (b) above, if the Company is a non-reporting issuer, the number of Conversion Shares that may be acquired by
the Holder upon conversion of this Note (or otherwise in respect hereof) shall be limited to the extent necessary to ensure that,
following such conversion (or other issuance), the total number of shares of Common Stock then beneficially owned by such Holder
and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s
for purposes of Section 13(d) of the 1934 Act, does not exceed 9.999% of the total number of issued and outstanding shares of
Common Stock (including for such purpose the shares of Common Stock issuable upon such conversion). For such purposes, beneficial
ownership shall be determined in accordance with Section 13(d) of the 1934 Act and the rules and regulations promulgated thereunder.
This provision may not be waived.

 

2.12
Short sales. The Holder shall not sell short the common shares of the Company.

  

    	7

    	 

    

 

ARTICLE
III

EVENTS
OF DEFAULT

 

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

 

3.1
Failure to Pay Principal or Interest. The Borrower fails to pay any installment of Principal, Interest or other sum due
under this Note when due.

 

3.2
Breach of Covenant. The Borrower breaches any other covenant or other term or condition of this Note in any material respect
and such breach, if subject to cure, continues for a period of ten (10) business days after written notice to the Borrower from
the Holder.

 

3.3
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 therewith shall be false or misleading in any material
respect as of the date made and the Closing Date.

 

3.4
Receiver or Trustee. 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.

 

3.5
Judgments. Any money judgment, writ or similar final process shall be entered or filed against Borrower or any of its property
or other assets for more than $1,000,000, and shall remain unvacated, unbonded or unstayed for a period of thirty (30) days.

 

3.6
Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings or relief under any
bankruptcy law or any law, or the issuance of any notice in relation to such event, for the relief of debtors shall be instituted
by or against the Borrower and if instituted against Borrower are not dismissed within thirty (30) days of initiation.

 

3.7
Non-Payment. A default by the Borrower under any one or more obligations in an aggregate monetary amount in excess of $200,000
for more than forty-five (45) days after the due date.

 

3.8
Stop Trade. An SEC or judicial stop trade order or Principal Market trading suspension that lasts for five or more consecutive
trading days.

 

3.9
Failure to Deliver Common Stock or Replacement Note. Borrower’s failure to timely deliver Common Stock to the Holder
pursuant to and in the time required by this Note.

 

3.10
Failure to Maintain Current Public Information. The Company’s failure to maintain current public information as defined
in Rule 144 of the Securities Act of 1933,

 

3.11
Reverse Splits. The Borrower effectuates a reverse split of its Common Stock without the prior written consent of the Holder.

 

3.12
Reservation Default. Failure by the Borrower to have reserve for issuance upon conversion of the Note the amount of Common
stock as set forth herein.

 

3.13
Cross Default. A default by the Borrower of a material term, covenant, warranty or undertaking of any other agreement to
which the Borrower and Holder are parties.

 

3.14
Change in Control. A change in control of the Company without at least fourteen (14) days prior written notice to Holder.
A change in control shall mean that more than 30% of the shares of common stock are consolidated in one person or entity so that
the person or entity (other than any one or more of the Holders) may control the election of the board of directors or the passage
of a proposal that would normally require a shareholder vote without such shareholder vote and that such person or entity was
not a holder of shares of the Company at the date of execution hereof.

 

3.15
Asset Sales. Any instance, undertaken without written consent of the Holder, whereby the Company or any of its subsidiaries,
sells, transfers, leases or otherwise disposes (including pursuant to a merger) of substantially all of the Company’s assets,
including any asset constituting an equity interest in any other person, except sales, transfers, leases and other dispositions
of inventory, used, obsolete or surplus equipment or other property, in each case in the ordinary course of the Company’s
business and consistent with past practice.

  

    	8

    	 

    

 

 3.16
Delisting. Delisting of the Common Stock from the Principal Market, including the Pink Sheets or the Over-the-Counter Bulletin
Board, on which the Common Stock is then listed or quoted for trading.

 

During
the time that any portion of this Note is outstanding, if any Event of Default has occurred, the remaining principal amount of
this Note, together with interest and other amounts owing in respect hereof, to the date of acceleration shall become, at the
Holder’s election, immediately due and payable in cash, provided however, the Holder may request (but shall have no obligation
to request) payment of such amounts in Common Stock of the Borrower. In addition to any other remedies, the Holder shall have
the right (but not the obligation) to convert this Note at any time after (x) an Event of Default or (y) the Maturity Date at
the Conversion Price then in effect. The Holder need not provide and the Borrower hereby waives any presentment, demand, protest
or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of
its rights and remedies hereunder and all other remedies available to it under applicable law. Such declaration may be rescinded
and annulled by Holder at any time prior to payment hereunder. No such rescission or annulment shall affect any subsequent Event
of Default or impair any right consequent thereon. Upon an Event of Default, notwithstanding any other provision of this Note
or any Transaction Document, the Holder shall have no obligation to comply with or adhere to any limitations, if any, on the conversion
of this Note or the sale of the Conversion Shares, Shares or Other Securities.

 

ARTICLE
IV

MISCELLANEOUS

 

4.1
Failure or Indulgence Not Waiver. No failure or delay on the part of Holder hereof 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 privilege. 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: (i) if to the Borrower to: 940 Lincoln Rd, Suite 315, Miami Beach, FL 33139and
(ii) if to the Holder, to Miccadan Marketing Consultants LLC, 8 Chamber Lane, Columbus, NJ 08022.

 

4.3
Amendment Provision. The term “Note” and all reference thereto, as used throughout this instrument, shall mean
this instrument 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 the benefit
of the Holder and its successors and assigns.

 

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

  

    	9

    	 

    

 

4.6
Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Delaware. Any action
brought by either party against the other concerning the transactions contemplated by this Agreement shall be brought only in
the state courts of Florida or in the federal courts located in the state of Florida located in Palm Beach County, Florida. Both
parties and the individual signing this Agreement on behalf of the Borrower agree to submit to the jurisdiction of such courts.
The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs.

 

4.7
Maximum Payments. Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or
other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid
or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited
against amounts owed by the Borrower to the Holder and thus refunded to the Borrower.

 

4.8
Waiver of Jury Trial. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR
ANY TRANSACTION DOCUMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY
PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES’ ACCEPTANCE OF THIS AGREEMENT.

 

4.9
Redemption. This Note may not be redeemed or paid without the consent of the Holder except as described in this Note.

 

4.10
Shareholder Status. The Holder shall not have rights as a shareholder of the Borrower with respect to unconverted portions
of this Note. However, the Holder will have all the rights of a shareholder of the Borrower with respect to the shares of Common
Stock to be received by Holder after delivery by the Holder of a Conversion Notice to the Borrower.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE
PAGE FOLLOWS]

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by an authorized officer as of the _______th day of
____________, 2015.

 

	 	MINDPIX CORPORATION
	 	 	 
	 	By:	
	 	Name: 	Victor Siegel
	 	Title: 	CEO
	 	 	 
	Acknowledged by:	 	 
	 	 	 
	Sidney Lorio	 	Gloria Lorio
	 	 	 
	By	 	By	 

 

    	11

    	 

    

 

Exhibit
A

 

NOTICE
OF CONVERSION

(To
be executed by the Holder in order to Convert the Note dated July 23, 2015)

 

TO:

 

The undersigned
hereby irrevocably elects to convert $_________________ of the principal amount of the above Note into Shares of Common Stock
of MINDPIX CORPORATION (MPIX), according to the conditions stated therein, as of the Conversion Date written below.

 

	Conversion
    Date:	 	 
	 	 	 
	Applicable
    Conversion Price:	 	 
	 	 	 
	Signature:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Address:	 	 
	 	 	 
	Amount
    to be converted:	  $	
	 	 	 
	Amount
    of Note unconverted:	 $	
	 	 	 
	Conversion
    Price per share:	 $	
	 	 	 
	Number
    of shares to be issued:	 	 
	 	 	 
	Amount
    of Interest Converted:	 $	
	 	 	 
	Conversion
    Price per share:	 $	
	 	 	 
	Number
    of shares of to be issued:	 	 
	 	 	 
	Please
    issue the shares of to:	 	 
	 	 	 
	Broker
    DTC Participant Code:	 	 
	 	 	 
	Account
    Number:	 	 

 

    	12

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