Document:

Exhibit 10.10

 

	SBA Loan #6572228207	Application #3306649043

 

LOAN
AUTHORIZATION AND AGREEMENT (LA&A)

 

A
PROPERLY SIGNED DOCUMENT IS

REQUIRED PRIOR TO ANY

DISBURSEMENT

 

CAREFULLY
READ THE LA&A:

This document describes the terms and conditions of your loan.
It is your responsibility to comply with ALL the terms and conditions of your loan.

 

SIGNING THE LA&A:

All borrowers must sign the LA&A.

		●	Sign your name exactly as it appears on the
LA&A. If typed incorrectly, you should sign with the correct spelling.

		●	If your middle initial appears on the signature line, sign
with your middle initial.

		●	If a suffix appears on the signature line, such as Sr.
or Jr., sign with your suffix.

		●	Corporate Signatories: Authorized representatives should
sign the signature page.

 

Your signature represents your agreement
to comply

with the terms and conditions of the
loan.

 

		Ref 50 30

 

     

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

U.S. Small Business Administration

 

Economic Injury Disaster Loan

 

LOAN
AUTHORIZATION AND AGREEMENT

 

Date: 08.27.2020 (Effective Date)

 

On the above date, this Administration
(SBA) authorized (under Section 7(b) of the Small Business Act, as amended) a Loan (SBA Loan #6572228207) to decisionpoint systems
CA, inc. (Borrower) of 8697 Research Dr Irvine California 92618 in the amount of one hundred and fifty thousand and 00/100 Dollars
($150,000.00), upon the following conditions:

 

PAYMENT

 

		●	Installment payments, including principal and interest,
of $731.00 Monthly, will begin Twelve (12) months from the date of the promissory Note. The balance of principal
and interest will be payable Thirty (30) years from the date of the promissory Note.

 

INTEREST

 

		●	Interest will accrue at the rate of 3.75% per annum
and will accrue only on funds actually advanced from the date(s) of each advance.

 

PAYMENT TERMS

 

		●	Each payment will be applied first to interest accrued
to the date of receipt of each payment, and the balance, if any, will be applied to principal.

 

		●	Each payment will be made when due even if at that time
the full amount of the Loan has not yet been advanced or the authorized amount of the Loan has been reduced.

 

COLLATERAL

 

		●	For loan amounts of greater
than $25,000, Borrower hereby grants to SBA, the secured party hereunder, a continuing security interest in and to any and all
“Collateral” as described herein to secure payment and performance of all debts, liabilities and obligations of Borrower
to SBA hereunder without limitation, including but not limited to all interest, other fees and expenses (all hereinafter called
“Obligations”). The Collateral includes the following property that Borrower now owns or shall acquire or create immediately
upon the acquisition or creation thereof: all tangible and intangible personal property, including, but not limited to: (a) inventory,
(b) equipment, (c) instruments, including promissory notes (d) chattel paper, including tangible chattel paper and electronic
chattel paper, (e) documents, (f) letter of credit rights, (g) accounts, including health-care insurance receivables and
credit card receivables, (h) deposit accounts, (i) commercial tort claims, (j) general intangibles, including payment intangibles
and software and (k) as-extracted collateral as such terms may from time to time be defined in the Uniform Commercial Code. The
security interest Borrower grants includes all accessions, attachments, accessories, parts, supplies and replacements for the
Collateral, all products, proceeds and collections thereof and all records and data relating thereto.

 

		●	For loan amounts of $25,000 or less, SBA is not taking
a security interest in any collateral.

 

	SBA Form 1391 (5-00)	Ref 50 30

 

    Page 2 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

REQUIREMENTS RELATIVE TO COLLATERAL

 

		●	Borrower will not sell or transfer any collateral (except
normal inventory turnover in the ordinary course of business) described in the “Collateral” paragraph hereof without
the prior written consent of SBA.

 

USE OF LOAN PROCEEDS

 

		●	Borrower will use all the proceeds of this Loan solely
as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter
and to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which will be deducted
from the Loan amount stated above.

 

REQUIREMENTS FOR USE OF LOAN PROCEEDS AND RECEIPTS

 

		●	Borrower will obtain and itemize receipts (paid receipts,
paid invoices or cancelled checks) and contracts for all Loan funds spent and retain these receipts for 3 years from the date
of the final disbursement. Prior to each subsequent disbursement (if any) and whenever requested by SBA, Borrower will submit
to SBA such itemization together with copies of the receipts.

 

		●	Borrower will not use, directly or indirectly, any portion
of the proceeds of this Loan to relocate without the prior written permission of SBA. The law prohibits the use of any portion
of the proceeds of this Loan for voluntary relocation from the business area in which the disaster occurred. To request SBA’s
prior written permission to relocate, Borrower will present to SBA the reasons therefore and a description or address of the relocation
site. Determinations of (1) whether a relocation is voluntary or otherwise, and (2) whether any site other than the disaster-affected
location is within the business area in which the disaster occurred, will be made solely by SBA.

 

		●	Borrower will, to the extent feasible, purchase only American-made
equipment and products with the proceeds of this Loan.

 

		●	Borrower will make any request for a loan increase for
additional disaster-related damages as soon as possible after the need for a loan increase is discovered. The SBA will not consider
a request for a loan increase received more than two (2) years from the date of loan approval unless, in the sole discretion
of the SBA, there are extraordinary and unforeseeable circumstances beyond the control of the borrower.

 

DEADLINE FOR RETURN OF LOAN CLOSING DOCUMENTS

 

		●	Borrower will sign and return the loan closing documents
to SBA within 2 months of the date of this Loan Authorization and Agreement. By notifying the Borrower in writing, SBA may
cancel this Loan if the Borrower fails to meet this requirement. The Borrower may submit and the SBA may, in its sole discretion,
accept documents after 2 months of the date of this Loan Authorization and Agreement.

 

COMPENSATION FROM OTHER SOURCES

 

		●	Eligibility for this disaster
Loan is limited to disaster losses that are not compensated by other sources. Other sources include but are not limited to: (1)
proceeds of policies of insurance or other indemnifications, (2) grants or other reimbursement (including loans) from government
agencies or private organizations, (3) claims for civil liability against other individuals, organizations or governmental entities,
and (4) salvage (including any sale or re-use) of items of damaged property.

 

	SBA Form 1391 (5-00)	Ref 50 30

 

    Page 3 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

		●	Borrower will promptly notify SBA of the existence and
status of any claim or application for such other compensation, and of the receipt of any such compensation, and Borrower will
promptly submit the proceeds of same (not exceeding the outstanding balance of this Loan) to SBA.

 

		●	Borrower hereby assigns to SBA the proceeds of any such
compensation from other sources and authorizes the payor of same to deliver said proceeds to SBA at such time and place as SBA
shall designate.

 

		●	SBA will in its sole discretion determine whether any such
compensation from other sources is a duplication of benefits. SBA will use the proceeds of any such duplication to reduce the
outstanding balance of this Loan, and Borrower agrees that such proceeds will not be applied in lieu of scheduled payments.

 

DUTY TO MAINTAIN HAZARD INSURANCE

 

		●	Within 12 months from the
date of this Loan Authorization and Agreement the Borrower will provide proof of an active and in effect hazard insurance policy
including fire, lightning, and extended coverage on all items used to secure this loan to at least 80% of the insurable value.
Borrower will not cancel such coverage and will maintain such coverage throughout the entire term of this Loan. BORROWER MAY
NOT BE ELIGIBLE FOR EITHER ANY FUTURE DISASTER ASSISTANCE OR SBA FINANCIAL ASSISTANCE IF THIS INSURANCE IS NOT MAINTAINED AS STIPULATED
HEREIN THROUGHOUT THE ENTIRE TERM OF THIS LOAN. Please submit proof of insurance to: U.S. Small Business Administration, Office
of Disaster Assistance, 14925 Kingsport Rd, Fort Worth, TX. 76155.

 

BOOKS AND RECORDS

 

		●	Borrower will maintain current and proper books of account
in a manner satisfactory to SBA for the most recent 5 years until 3 years after the date of maturity, including extensions, or
the date this Loan is paid in full, whichever occurs first. Such books will include Borrower’s financial and operating statements,
insurance policies, tax returns and related filings, records of earnings distributed and dividends paid and records of compensation
to officers, directors, holders of 10% or more of Borrower’s capital stock, members, partners and proprietors.

 

		●	Borrower authorizes SBA to make or cause to be made, at
Borrower’s expense and in such a manner and at such times as SBA may require: (1) inspections and audits of any books, records
and paper in the custody or control of Borrower or others relating to Borrower’s financial or business conditions, including the
making of copies thereof and extracts therefrom, and (2) inspections and appraisals of any of Borrower’s assets.

 

		●	Borrower will furnish to SBA, not later than 3 months following
the expiration of Borrower’s fiscal year and in such form as SBA may require, Borrower’s financial statements.

 

		●	Upon written request of SBA, Borrower will accompany such
statements with an ‘Accountant’s Review Report’ prepared by an independent public accountant at Borrower’s expense.

 

		●	Borrower authorizes all Federal, State and municipal authorities
to furnish reports of examination, records and other information relating to the conditions and affairs of Borrower and any desired
information from such reports, returns, files, and records of such authorities upon request of SBA.

 

	SBA Form 1391 (5-00)	Ref 50 30

 

    Page 4 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

LIMITS ON DISTRIBUTION OF ASSETS

 

		●	Borrower will not, without the prior written consent of
SBA, make any distribution of Borrower’s assets, or give any preferential treatment, make any advance, directly or indirectly,
by way of loan, gift, bonus, or otherwise, to any owner or partner or any of its employees, or to any company directly or indirectly
controlling or affiliated with or controlled by Borrower, or any other company.

 

EQUAL OPPORTUNITY REQUIREMENT

 

		●	If Borrower has or intends to have employees, Borrower
will post SBA Form 722, Equal Opportunity Poster (copy attached), in Borrower’s place of business where it will be clearly visible
to employees, applicants for employment, and the general public.

 

DISCLOSURE OF LOBBYING ACTIVITIES

 

		●	Borrower agrees to the attached Certification Regarding
Lobbying Activities

 

BORROWER’S CERTIFICATIONS

 

Borrower certifies that:

 

		●	There has been no substantial adverse change in Borrower’s
financial condition (and organization, in case of a business borrower) since the date of the application for this Loan. (Adverse
changes include, but are not limited to: judgment liens, tax liens, mechanic’s liens, bankruptcy, financial reverses, arrest or
conviction of felony, etc.)

 

		●	No fees have been paid, directly or indirectly, to any
representative (attorney, accountant, etc.) for services provided or to be provided in connection with applying for or closing
this Loan, other than those reported on SBA Form 5 Business Disaster Loan Application’; SBA Form 3501 COVID-19 Economic Injury
Disaster Loan Application; or SBA Form 159, ‘Compensation Agreement’. All fees not approved by SBA are prohibited.

 

		●	All representations in the Borrower’s Loan application
(including all supplementary submissions) are true, correct and complete and are offered to induce SBA to make this Loan.

 

		●	No claim or application for any other compensation for
disaster losses has been submitted to or requested of any source, and no such other compensation has been received, other than
that which Borrower has fully disclosed to SBA.

 

		●	Neither the Borrower nor, if the Borrower is a business,
any principal who owns at least 50% of the Borrower, is delinquent more than 60 days under the terms of any: (a) administrative
order; (b) court order; or (c) repayment agreement that requires payment of child support.

 

		●	Borrower certifies that no
fees have been paid, directly or indirectly, to any representative (attorney, accountant, etc.) for services provided or to be
provided in connection with applying for or closing this Loan, other than those reported on the Loan Application. All fees not
approved by SBA are prohibited. If an Applicant chooses to employ an Agent, the compensation an Agent charges to and that
is paid by the Applicant must bear a necessary and reasonable relationship to the services actually performed and must be comparable
to those charged by other Agents in the geographical area. Compensation cannot be contingent on loan approval. In addition, compensation
must not include any expenses which are deemed by SBA to be unreasonable for services actually performed or expenses actually
incurred. Compensation must not include charges prohibited in 13 CFR 103 or SOP 50-30, Appendix 1. If the compensation
exceeds $500 for a disaster home loan or $2,500 for a disaster business loan, Borrower must fill out the Compensation Agreement
Form 159D which will be provided for Borrower upon request or can be found on the SBA website.

 

	SBA Form 1391 (5-00)	Ref 50 30

 

    Page 5 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

		●	Borrower certifies, to the best of its, his or her knowledge
and belief, that the certifications and representations in the attached Certification Regarding Lobbying are true, correct and
complete and are offered to induce SBA to make this Loan.

 

CIVIL AND CRIMINAL PENALTIES

 

		●	Whoever wrongfully misapplies
the proceeds of an SBA disaster loan shall be civilly liable to the Administrator in an amount equal to one-and-one half times
the original principal amount of the loan under 15 U.S.C. 636(b). In addition, any false statement or misrepresentation to SBA
may result in criminal, civil or administrative sanctions including, but not limited to: 1) fines, imprisonment or both, under
15 U.S.C. 645, 18 U.S.C. 1001, 18 U.S.C. 1014, 18 U.S.C. 1040, 18 U.S.C. 3571, and any other applicable laws; 2) treble
damages and civil penalties under the False Claims Act, 31 U.S.C. 3729; 3) double damages and civil penalties under the Program
Fraud Civil Remedies Act, 31 U.S.C. 3802; and 4) suspension and/or debarment from all Federal procurement and non-procurement
transactions. Statutory fines may increase if amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act
of 2015.

 

RESULT OF VIOLATION OF THIS LOAN AUTHORIZATION AND AGREEMENT

 

		●	If Borrower violates any of the terms or conditions of
this Loan Authorization and Agreement, the Loan will be in default and SBA may declare all or any part of the indebtedness immediately
due and payable. SBA’s failure to exercise its rights under this paragraph will not constitute a waiver.

 

		●	A default (or any violation of any of the terms and conditions)
of any SBA Loan(s) to Borrower and/or its affiliates will be considered a default of all such Loan(s).

 

DISBURSEMENT OF THE LOAN

 

		●	Disbursements will be made by and at the discretion of
SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA.

 

		●	Disbursements may be made in increments as needed.

 

		●	Other conditions may be imposed by SBA pursuant to general
requirements of SBA.

 

		●	Disbursement may be withheld if, in SBA’s sole discretion,
there has been an adverse change in Borrower’s financial condition or in any other material fact represented in the Loan application,
or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement.

 

		●	NO
                                         DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION
                                         AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD.

 

	SBA Form 1391 (5-00)	Ref 50 30

 

    Page 6 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

PARTIES AFFECTED

 

		●	This Loan Authorization and Agreement will be binding upon
Borrower and Borrower’s successors and assigns and will inure to the benefit of SBA and its successors and assigns.

 

RESOLUTION OF BOARD OF DIRECTORS

 

		●	Borrower shall, within 180 days of receiving any disbursement
of this Loan, submit the appropriate SBA Certificate and/or Resolution to the U.S. Small Business Administration, Office of Disaster
Assistance, 14925 Kingsport Rd, Fort Worth, TX. 76155.

 

ENFORCEABILITY

 

		●	This Loan Authorization and Agreement is legally binding,
enforceable and approved upon Borrower’s signature, the SBA’s approval and the Loan Proceeds being issued to Borrower
by a government issued check or by electronic debit of the Loan Proceeds to Borrower’ banking account provided by Borrower
in application for this Loan.

 

	 	/s/ James E. Rivera
	 	James E. Rivera
	 	Associate Administrator
	 	U.S. Small Business Administration

 

The undersigned agree(s) to be bound by the terms and conditions
herein during the term of this Loan, and further agree(s) that no provision stated herein will be waived without prior written
consent of SBA. Under penalty of perjury of the United States of America, I hereby certify that I am authorized to apply for
and obtain a disaster loan on behalf of Borrower, in connection with the effects of the COVID-19 emergency.

 

	 	decisionpoint systems CA, inc.	 	 	 
	 	 	 	 	 
	 	/s/ steven smith	 	Date:  	08.27.2020
	 	 	 	 	 
	 	steven smith, Owner/Officer	 	 	 

 

Note: Corporate Borrowers must execute Loan Authorization
and Agreement in corporate name, by a duly authorized officer. Partnership Borrowers must execute in firm name, together with signature
of a general partner. Limited Liability entities must execute in the entity name by the signature of the authorized managing person.

 

	SBA Form 1391 (5-00)	Ref 50 30

 

    Page 7 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

CERTIFICATION
REGARDING LOBBYING

 

For loans over $150,000, Congress requires recipients to agree
to the following:

 

		1.	Appropriated funds may NOT be used for lobbying.

 

		2.	Payment of non-federal funds for lobbying must be
reported on Form SF-LLL.

 

		3.	Language of this certification must be incorporated
into all contracts and subcontracts exceeding $100,000.

 

		4.	All contractors and subcontractors with contracts
exceeding $100,000 are required to certify and disclose accordingly.

 

	SBA Form 1391 (5-00)	

 

    Page 8 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

CERTIFICATION REGARDING LOBBYING

 

Certification for Contracts, Grants, Loans, and Cooperative
Agreements

 

Borrower and all Guarantors (if any) certify, to the best of
its, his or her knowledge and belief, that:

 

(1) No
Federal appropriated funds have been paid or will be paid, by or on behalf of the undersigned, to any person for influencing or
attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee
of a Member of Congress in connection with awarding of any Federal contract, the making of any Federal grant, the making of any
Federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, or modification of any
Federal contract, grant, loan, or cooperative agreement.

 

(2) If
any funds other than Federal appropriated funds have been paid or will be paid to any person for influencing or attempting to influence
an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress
in connection with this Federal loan, the undersigned shall complete and submit Standard Form LLL, “Disclosure Form to Report
Lobbying,” in accordance with its instructions.

 

(3) The
undersigned shall require that the language of this certification be included in the award documents for all sub-awards at all
tiers (including subcontracts, sub-grants, and contracts under grants, loans, and co-operative agreements) and that all sub-recipients
shall certify and disclose accordingly.

 

This certification is a material representation of fact upon
which reliance was placed when this transaction was made or entered into. Submission of this certification is a prerequisite for
making or entering into this transaction imposed by Section 1352, Title 31, U.S. Code. Any person who fails to file the required
certification shall be subject to a civil penalty of not less than $10,000.00 and not more than $100,000.00 for each such failure.

 

	SBA Form 1391 (5-00)	

 

    Page 9 of 11

     

    

 

		
        This Statement
        of Policy is Posted

         

        In Accordance with Regulations of the

         

        Small
        Business Administration

         

        This Organization
        Practices

         

        Equal
        Employment Opportunity
	 

 

We do not discriminate on the ground of race, color, religion,
sex, age, disability or national origin in the hiring, retention, or promotion of employees; nor in determining their rank, or
the compensation or fringe benefits paid them.

 

This Organization Practices

 

Equal
Treatment of Clients

 

We do not discriminate on the basis of race, color, religion,
sex, marital status, disability, age or national origin in services or accommodations offered or provided to our employees, clients
or guests.

 

These policies
and this notice comply with regulations of the United States Government.

 

Please report violations of this policy
to:

 

	 	Administrator
	 	Small Business Administration
	 	Washington, D.C. 20416

 

In order for the public and your employees
to know their rights under 13 C.F.R Parts 112, 113, and 117, Small Business Administration Regulations, and to conform with the
directions of the Administrator of SBA, this poster must be displayed where it is clearly visible to employees, applicants for
employment, and the public.

 

Failure to display the poster as required
in accordance with SBA Regulations may be considered evidence of noncompliance and subject you to the penalties contained in those
Regulations.

 

	SBA FORM 722 (10-02) REF: SOP 9030 PREVIOUS EDITIONS ARE OBSOLETE  	U.S. GOVERNMENT PRINTING OFFICE: 1994 0- 153-346
	This form was electronically produced by Elite Federal Inc.	 

 

 

 

    Page 10 of 11

     

    

 

		
        Esta Declaración De Principios
        Se Publica

         

        De Acuerdo Con Los Reglamentos De La

         

        Agencia Federal Para el Desarrollo de la
        Pequeña Empresa

         

        Esta Organización Practica

         

        Igual
        Oportunidad De Empleo
	 

 

No discriminamos por razón de raza, color, religión,
sexo, edad, discapacidad o nacionalidad en el empleo, retención o ascenso de personal ni en la determinación de sus
posiciones, salarios o beneficios marginales.

 

Esta Organización Practica

 

Igualdad
En El Trato A Su Clientela

 

No discriminamos por razón de raza, color, religión,
sexo, estado civil, edad, discapacidad o nacionalidad en los servicios o facilidades provistos para nuestros empleados, clientes
o visitantes.

 

Estos principios y este aviso cumplen
con los reglamentos del Gobierno de los Estados Unidos de América.

 

Favor de informar violaciones a lo aquí
indicado a:

 

	 	Administrador
	 	Agencia Federal Para el Desarrollo de la
	 	Pequeña Empresa
	 	Washington, D.C. 20416

 

A fin de que el público y sus empleados conozcan sus
derechos según lo expresado en las Secciones 112, 113 y 117 del Código de Regulaciaones Federales No. 13, de los
Reglamentos de la Agencja Federal Para el Desarrollo de la Pequeña Empresa y de acuerdo con las instrucciones del Administrador
de dicha agencia, esta notificación debe fijarse en un lugar claramente visible para los empleados, solicitantes de empleo
y público en general. No fijar esta notificación según lo requerido por los reglamentos de la Agencia Federal
Para el Desarrollo de la Pequeña Empresa, puede ser interpretado como evidencia de falta de cumplimiento de los mismos y
conllevará la ejecución de los castigos impuestos en estos reglamentos.

 

	SBA FORM 722 (10-02) REF: SOP 9030 PREVIOUS EDITIONS ARE OBSOLETE   	U.S. GOVERNMENT PRINTING OFFICE: 1994 0- 153-346
	This form was electronically produced by Elite Federal Inc.	 

 

 

    Page 11 of 11

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

NOTE

 

A PROPERLY SIGNED NOTE IS 

REQUIRED
PRIOR TO ANY 

DISBURSEMENT

 

CAREFULLY READ THE NOTE: It
is your promise to repay the loan.

 

		●	The Note is pre-dated. DO NOT CHANGE THE DATE OF
THE NOTE.

		●	LOAN PAYMENTS will be due as stated in the Note.

		●	ANY CORRECTIONS OR UNAUTHORIZED MARKS MAY VOID THIS DOCUMENT.

 

SIGNING THE NOTE: All borrowers must
sign the Note.

		●	Sign your name exactly as it appears on the Note. If typed incorrectly, you should
sign with the correct spelling.

		●	If your middle initial appears on the signature line, sign with your middle initial.

		●	If a suffix appears on the signature line, such as Sr. or Jr., sign with your suffix.

		●	Corporate Signatories: Authorized representatives should sign the signature page.

 

     

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

	
        

        

        

        
	
        U.S. Small Business Administration

         

        NOTE

         

        (secured
        disaster loans)

         
	Date: 08.27.2020
	
         

        Loan Amount: $150,000.00

	
         

        Annual Interest Rate: 3.75%

         

 

	SBA Loan # 6572228207	Application #3306649043

 

		1.	PROMISE TO PAY: In return for a loan, Borrower promises
to pay to the order of SBA the amount of one hundred and fifty thousand and 00/100 Dollars ($150,000.00), interest
on the unpaid principal balance, and all other amounts required by this Note.

 

		2.	DEFINITIONS: A) “Collateral” means
any property taken as security for payment of this Note or any guarantee of this Note. B) “Guarantor” means
each person or entity that signs a guarantee of payment of this Note. C) “Loan Documents” means the documents
related to this loan signed by Borrower, any Guarantor, or anyone who pledges collateral.

 

		3.	PAYMENT TERMS: Borrower
must make all payments at the place SBA designates. Borrower may prepay this Note in part or in full at any time, without notice
or penalty. Borrower must pay principal and interest payments of $731.00 every month beginning
Twelve (12) months from the date of the Note. SBA will apply each installment payment first to pay interest accrued
to the day SBA receives the payment and will then apply any remaining balance to reduce principal. All remaining principal and
accrued interest is due and payable Thirty (30) years from the date of the Note.

 

		4.	DEFAULT: Borrower is in default under this
Note if Borrower does not make a payment when due under this Note, or if Borrower: A) Fails to comply with any provision
of this Note, the Loan Authorization and Agreement, or other Loan Documents; B) Defaults on any other SBA loan; C) Sells
or otherwise transfers, or does not preserve or account to SBA’s satisfaction for, any of the Collateral or its proceeds;
D) Does not disclose, or anyone acting on their behalf does not disclose, any material fact to SBA; E) Makes, or
anyone acting on their behalf makes, a materially false or misleading representation to SBA; F) Defaults on any loan or
agreement with another creditor, if SBA believes the default may materially affect Borrower’s ability to pay this Note;
G) Fails to pay any taxes when due; H) Becomes the subject of a proceeding under any bankruptcy or insolvency law;
I) Has a receiver or liquidator appointed for any part of their business or property; J) Makes an assignment for
the benefit of creditors; K) Has any adverse change in financial condition or business operation that SBA believes may
materially affect Borrower’s ability to pay this Note; L) Dies; M) Reorganizes, merges, consolidates, or otherwise
changes ownership or business structure without SBA’s prior written consent; or, N) Becomes the subject of a civil
or criminal action that SBA believes may materially affect Borrower’s ability to pay this Note.

 

		5.	SBA’S RIGHTS IF THERE IS A DEFAULT: Without
notice or demand and without giving up any of its rights, SBA may: A) Require immediate payment of all amounts owing under
this Note; B) Have recourse to collect all amounts owing from any Borrower or Guarantor (if any); C) File suit and
obtain judgment; D) Take possession of any Collateral; or E) Sell, lease, or otherwise dispose of, any Collateral
at public or private sale, with or without advertisement.

 

		6.	SBA’S GENERAL POWERS: Without notice
and without Borrower’s consent, SBA may: A) Bid on or buy the Collateral at its sale or the sale of another lienholder,
at any price it chooses; B) Collect amounts due under this Note, enforce the terms of this Note or any other Loan Document,
and preserve or dispose of the Collateral. Among other things, the expenses may include payments for property taxes, prior liens,
insurance, appraisals, environmental remediation costs, and reasonable attorney’s fees and costs. If SBA incurs such expenses,
it may demand immediate reimbursement from Borrower or add the expenses to the principal balance; C) Release anyone obligated
to pay this Note; D) Compromise, release, renew, extend or substitute any of the Collateral; and E) Take any action
necessary to protect the Collateral or collect amounts owing on this Note.

 

	SBA FORM 147 B (5-00)	

 

    Page 2 of 3

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

		7.	FEDERAL LAW APPLIES: When SBA is the holder,
this Note will be interpreted and enforced under federal law, including SBA regulations. SBA may use state or local procedures
for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does
not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim
or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.

 

		8.	GENERAL PROVISIONS: A) All individuals and
entities signing this Note are jointly and severally liable. B) Borrower waives all suretyship defenses. C) Borrower
must sign all documents required at any time to comply with the Loan Documents and to enable SBA to acquire, perfect, or maintain
SBA’s liens on Collateral. D) SBA may exercise any of its rights separately or together, as many times and in any
order it chooses. SBA may delay or forgo enforcing any of its rights without giving up any of them. E) Borrower may not
use an oral statement of SBA to contradict or alter the written terms of this Note. F) If any part of this Note is unenforceable,
all other parts remain in effect. G) To the extent allowed by law, Borrower waives all demands and notices in connection
with this Note, including presentment, demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any
claim that SBA did not obtain any guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired Collateral;
or did not obtain the fair market value of Collateral at a sale. H) SBA may sell or otherwise transfer this Note.

 

		9.	MISUSE OF LOAN FUNDS: Anyone who wrongfully
misapplies any proceeds of the loan will be civilly liable to SBA for one and one- half times the proceeds disbursed, in addition
to other remedies allowed by law.

 

		10.	BORROWER’S NAME(S) AND SIGNATURE(S): By
signing below, each individual or entity acknowledges and accepts personal obligation and full liability under the Note as Borrower.

 

	 	decisionpoint systems CA, inc.
	 	 
	 	/s/ steven smith
	 	steven smith, Owner/Officer

 

	SBA FORM 147 B (5-00)	

 

    Page 3 of 3

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

SECURITY
AGREEMENT

 

Read this document carefully. It grants the SBA a security
interest (lien) in all the property described in paragraph 4.

 

This document is predated. DO NOT CHANGE THE DATE ON THIS DOCUMENT.

 

     

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

		
         

        U.S. Small Business Administration

        SECURITY
        AGREEMENT

         

 

	SBA Loan #:	
        6572228207 

	Borrower:	
        decisionpoint systems CA, inc. 

	Secured Party:	
        The Small Business Administration, an
Agency of the U.S. Government 

	Date:	
        08.27.2020 

	Note Amount:	
        $150,000.00 

 

		1.	DEFINITIONS.

 

Unless otherwise specified, all terms used in this Agreement
will have the meanings ascribed to them under the Official Text of the Uniform Commercial Code, as it may be amended from time
to time, (“UCC”). “SBA” means the Small Business Administration, an Agency of the U.S. Government.

 

		2.	GRANT OF SECURITY INTEREST.

 

For value received, the Borrower grants to the Secured Party
a security interest in the property described below in paragraph 4 (the “Collateral”).

 

		3.	OBLIGATIONS SECURED.

 

This Agreement secures the payment and performance of: (a)
all obligations under a Note dated 08.27.2020, made by decisionpoint systems CA, inc. , made payable to Secured Lender, in
the amount of $150,000.00 (“Note”), including all costs and expenses
(including reasonable attorney’s fees), incurred by Secured Party in the disbursement, administration and collection of
the loan evidenced by the Note; (b) all costs and expenses (including reasonable attorney’s fees), incurred by Secured
Party in the protection, maintenance and enforcement of the security interest hereby granted; (c) all obligations of the
Borrower in any other agreement relating to the Note; and (d) any modifications, renewals, refinancings, or extensions of the
foregoing obligations.

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

    Page 2 of 5

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

		4.	COLLATERAL DESCRIPTION.

 

The Collateral in which this security interest is granted includes
the following property that Borrower now owns or shall acquire or create immediately upon the acquisition or creation thereof:
all tangible and intangible personal property, including, but not limited to: (a) inventory, (b) equipment, (c) instruments, including
promissory notes (d) chattel paper, including tangible chattel paper and electronic chattel paper, (e) documents, (f) letter of
credit rights, (g) accounts, including health-care insurance receivables and credit card receivables, (h) deposit accounts, (i)
commercial tort claims, (j) general intangibles, including payment intangibles and software and (k) as-extracted collateral as
such terms may from time to time be defined in the Uniform Commercial Code. The security interest Borrower grants includes all
accessions, attachments, accessories, parts, supplies and replacements for the Collateral, all products, proceeds and collections
thereof and all records and data relating thereto.

 

		5.	RESTRICTIONS ON COLLATERAL TRANSFER.

 

Borrower will not sell, lease, license or otherwise transfer
(including by granting security interests, liens, or other encumbrances in) all or any part of the Collateral or Borrower’s
interest in the Collateral without Secured Party’s written or electronically communicated approval, except that Borrower
may sell inventory in the ordinary course of business on customary terms. Borrower may collect and use amounts due on accounts
and other rights to payment arising or created in the ordinary course of business, until notified otherwise by Secured Party in
writing or by electronic communication.

 

		6.	MAINTENANCE AND LOCATION OF COLLATERAL; INSPECTION;
INSURANCE.

 

Borrower must promptly notify Secured Party by written or electronic
communication of any change in location of the Collateral, specifying the new location. Borrower hereby grants to Secured Party
the right to inspect the Collateral at all reasonable times and upon reasonable notice. Borrower must: (a) maintain the Collateral
in good condition; (b) pay promptly all taxes, judgments, or charges of any kind levied or assessed thereon; (c) keep current all
rent or mortgage payments due, if any, on premises where the Collateral is located; and (d) maintain hazard insurance on the Collateral,
with an insurance company and in an amount approved by Secured Party (but in no event less than the replacement cost of that Collateral),
and including such terms as Secured Party may require including a Lender’s Loss Payable Clause in favor of Secured Party.
Borrower hereby assigns to Secured Party any proceeds of such policies and all unearned premiums thereon and authorizes and empowers
Secured Party to collect such sums and to execute and endorse in Borrower’s name all proofs of loss, drafts, checks and any
other documents necessary for Secured Party to obtain such payments.

 

		7.	CHANGES TO BORROWER’S LEGAL STRUCTURE, PLACE OF BUSINESS,
JURISDICTION OF ORGANIZATION, OR NAME.

 

Borrower must notify Secured Party by written or electronic
communication not less than 30 days before taking any of the following actions: (a) changing or reorganizing the type of organization
or form under which it does business; (b) moving, changing its place of business or adding a place of business; (c) changing its
jurisdiction of organization; or (d) changing its name. Borrower will pay for the preparation and filing of all documents Secured
Party deems necessary to maintain, perfect and continue the perfection of Secured Party’s security interest in the event
of any such change.

 

		8.	PERFECTION OF SECURITY INTEREST.

 

Borrower consents, without further notice, to Secured Party’s
filing or recording of any documents necessary to perfect, continue, amend or terminate its security interest. Upon request of
Secured Party, Borrower must sign or otherwise authenticate all documents that Secured Party deems necessary at any time to allow
Secured Party to acquire, perfect, continue or amend its security interest in the Collateral. Borrower will pay the filing and
recording costs of any documents relating to Secured Party’s security interest. Borrower ratifies all previous filings and
recordings, including financing statements and notations on certificates of title. Borrower will cooperate with Secured Party in
obtaining a Control Agreement satisfactory to Secured Party with respect to any Deposit Accounts or Investment Property, or in
otherwise obtaining control or possession of that or any other Collateral.

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

    Page 3 of 5

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

		9.	DEFAULT.

 

Borrower is in default under this Agreement if: (a) Borrower
fails to pay, perform or otherwise comply with any provision of this Agreement; (b) Borrower makes any materially false representation,
warranty or certification in, or in connection with, this Agreement, the Note, or any other agreement related to the Note or this
Agreement; (c) another secured party or judgment creditor exercises its rights against the Collateral; or (d) an event defined
as a “default” under the Obligations occurs. In the event of default and if Secured Party requests, Borrower must assemble
and make available all Collateral at a place and time designated by Secured Party. Upon default and at any time thereafter, Secured
Party may declare all Obligations secured hereby immediately due and payable, and, in its sole discretion, may proceed to enforce
payment of same and exercise any of the rights and remedies available to a secured party by law including those available to it
under Article 9 of the UCC that is in effect in the jurisdiction where Borrower or the Collateral is located. Unless otherwise
required under applicable law, Secured Party has no obligation to clean or otherwise prepare the Collateral for sale or other disposition
and Borrower waives any right it may have to require Secured Party to enforce the security interest or payment or performance of
the Obligations against any other person.

 

		10.	FEDERAL RIGHTS.

 

When SBA is the holder of the Note, this Agreement will be construed
and enforced under federal law, including SBA regulations. Secured Party or SBA may use state or local procedures for filing papers,
recording documents, giving notice, enforcing security interests or liens, and for any other purposes. By using such procedures,
SBA does not waive any federal immunity from state or local control, penalty, tax or liability. As to this Agreement, Borrower
may not claim or assert any local or state law against SBA to deny any obligation, defeat any claim of SBA, or preempt federal
law.

 

		11.	GOVERNING LAW.

 

Unless SBA is the holder of the Note, in which case federal
law will govern, Borrower and Secured Party agree that this Agreement will be governed by the laws of the jurisdiction where the
Borrower is located, including the UCC as in effect in such jurisdiction and without reference to its conflicts of laws principles.

 

		12.	SECURED PARTY RIGHTS.

 

All rights conferred in this Agreement on Secured Party are
in addition to those granted to it by law, and all rights are cumulative and may be exercised simultaneously. Failure of Secured
Party to enforce any rights or remedies will not constitute an estoppel or waiver of Secured Party’s ability to exercise
such rights or remedies. Unless otherwise required under applicable law, Secured Party is not liable for any loss or damage to
Collateral in its possession or under its control, nor will such loss or damage reduce or discharge the Obligations that are due,
even if Secured Party’s actions or inactions caused or in any way contributed to such loss or damage.

 

		13.	SEVERABILITY.

 

If any provision of this Agreement is unenforceable, all other
provisions remain in effect.

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

    Page 4 of 5

     

    

 

	SBA Loan #6572228207	Application #3306649043

 

		14.	BORROWER CERTIFICATIONS.

 

Borrower certifies that: (a) its Name (or Names) as stated above
is correct; (b) all Collateral is owned or titled in the Borrower’s name and not in the name of any other organization or
individual; (c) Borrower has the legal authority to grant the security interest in the Collateral; (d) Borrower’s ownership
in or title to the Collateral is free of all adverse claims, liens, or security interests (unless expressly permitted by Secured
Party); (e) none of the Obligations are or will be primarily for personal, family or household purposes; (f) none of the Collateral
is or will be used, or has been or will be bought primarily for personal, family or household purposes; (g) Borrower has read and
understands the meaning and effect of all terms of this Agreement.

 

		15.	BORROWER NAME(S) AND SIGNATURE(S).

 

By signing or otherwise authenticating below, each individual
and each organization becomes jointly and severally obligated as a Borrower under this Agreement.

 

	 	decisionpoint systems CA, inc.	 	 	 
	 	 	 	 	 
	 	/s/ steven smith	 	Date: 	08.27.2020
	 	 	 	 	 
	 	steven smith, Owner/Officer	 	 	 

 

 

SBA Form 1059 (09-19) Previous Editions are obsolete.

 

 

Page 5 of 5Exhibit 4.1

 

THE OFFER AND SALE OF THIS SECURITY AND
THE SECURITIES ISSUABLE HEREUNDER HAVE NOT 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, THIS SECURITY AND THE SECURITIES ISSUABLE HEREUNDER 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.
THIS SECURITY AND THE SECURITIES ISSUABLE HEREUNDER MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN
WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR
OTHER LOAN SECURED BY SUCH SECURITIES.

 

Original Issue Date: September 15, 2020

 

$4,496,035

 

8.5% SENIOR
SECURED CONVERTIBLE NOTE

DUE September 15, 2022

 

THIS 8.5% SENIOR SECURED
CONVERTIBLE NOTE of LiveXLive Media, Inc., a Delaware corporation, (the “Company”), having its principal place
of business at 9200 Sunset Boulevard, Suite #1201, West Hollywood, California 90069 (this note, as amended, restated, supplemented
or otherwise modified from time to time, the “Note”) and is issued pursuant to the Purchase Agreement (as defined
below).

 

FOR VALUE RECEIVED,
the Company promises to pay in cash to HARVEST SMALL CAP PARTNERS, L.P., a Delaware limited partnership, or its registered assigns
(the “Holder”), or shall have paid pursuant to the terms hereunder, the principal sum of $4,496,035
on September 15, 2022 (the “Maturity Date”) or such earlier date as this Note is required or permitted to be
repaid as provided hereunder, and to pay interest to the Holder on the aggregate then outstanding principal amount of this Note
in accordance with the provisions hereof. This Note is subject to the following additional provisions:

 

Section 1.Definitions.
For the purposes hereof, in addition to the terms defined elsewhere in this Note, (a) capitalized terms not otherwise defined herein
shall have the meanings set forth in the Purchase Agreement and (b) the following terms shall have the following meanings:

 

“Account
Control Agreement(s)” means any agreement entered into by and among Holder, Company or any Subsidiary and a third party
bank or other institution (including a securities intermediary) in which Company or any Subsidiary maintains a deposit account
or an account holding investment property and which grants Holder a perfected security interest in the subject account or accounts.

 

    

     

    

 

“Applicable
Interest Rate” means an annual rate equal to 8.5%; provided, however, following the occurrence and during the continuance
of an Event of Default, the “Applicable Interest Rate” shall automatically, without notice or any other action
required by Holder, mean an annual rate equal to 11.5%.

 

“Bad
Boy Conduct” shall have the meaning set forth in Section 8(k).

 

“Bankruptcy
Event” means any of the following events: (a) the Company or any Significant Subsidiary thereof commences a case or other
proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or
liquidation or similar law of any jurisdiction relating to the Company or any Significant Subsidiary thereof (b) there is commenced
against the Company or any Significant Subsidiary thereof any such case or proceeding that is not dismissed within 60 days after
commencement, (c) the Company or any Significant Subsidiary thereof is adjudicated insolvent or bankrupt or any order of relief
or other order approving any such case or proceeding is entered, (d) the Company or any Significant Subsidiary thereof suffers
any appointment of any custodian or the like for it or any substantial part of its property that is not discharged or stayed within
60 calendar days after such appointment, (e) the Company or any Significant Subsidiary thereof makes a general assignment for the
benefit of creditors, (f) the Company or any Significant Subsidiary thereof calls a meeting of its creditors with a view to arranging
a composition, adjustment or restructuring of its debts, (g) the Company or any Significant Subsidiary thereof, by any act or failure
to act, expressly indicates its consent to, approval of or acquiescence in any of the foregoing or takes any corporate or other
action for the purpose of effecting any of the foregoing, or (h) the Company or any Significant Subsidiary admits in writing its
inability, or is otherwise unable, to pay its debts generally as they become due.

 

“Beneficial
Ownership Limitation” shall have the meaning set forth in Section 4(i).

 

“Bloomberg”
means Bloomberg, L.P.

 

“Broker
Undertaking” shall have the meaning set forth in Section 6(b).

 

“Buy-In”
shall have the meaning set forth in Section 4(f).

 

“Capital
Stock” of any Person means any and all shares of, interests in, rights to purchase, warrants or options for, participations
in, or other equivalents of, in each case however designated, the equity of such Person, but excluding any debt securities convertible
into such equity.

 

    2

     

    

 

“Change
of Control Transaction” means the occurrence after the date hereof of any of (a) an acquisition after the date hereof
by an individual or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) (other
than a Permitted Holder) of effective control (whether through legal or beneficial ownership of Capital Stock of the Company, by
contract or otherwise) of in excess of 50% of the voting securities of the Company (other than by means of conversion or exercise
of the Note), (b) the Company merges into or consolidates with any other Person, or any Person merges into or consolidates with
the Company and, after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction
and Permitted Holders own less than 50% of the aggregate voting power of the Company or the successor entity of such transaction,
or (c) the Company Disposes of all or substantially all of its assets to another Person other than a direct or indirect wholly-owned
Domestic Subsidiary that is Guarantor and has executed a joinder to the Security Agreement at the time of such Disposition or that
becomes a Guarantor and executes a joinder to the Security Agreement concurrently with such disposition and, in any case, the Holder
has been given 10 Business Days prior written notice of such Disposition.

 

“Close
of Business” means 5:00 p.m., New York City time.

 

“Collateral”
shall have the meaning given such term in the Security Agreement.

 

“Commission”
means the U.S. Securities Exchange Commission.

 

“Common
Stock Change Event” shall have the meaning set forth in Section 5(g).

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

“Company
Counsel” means Foley Shechter Ablovatskiy LLP, 1359 Broadway, 20th Floor, Suite 2001, New York, NY 10018.

 

“Company
Non-Compliance Notice” shall have the meaning set forth in Section 6(b).

 

“Conversion
Date” shall have the meaning set forth in Section 4(b)(i).

 

“Conversion
Price” shall have the meaning set forth in Section 4(b)(ii).

 

“Conversion
Share Delivery Date” shall have the meaning set forth in Section 4(b)(iii).

 

“Conversion
Shares” means, collectively, the shares of Common Stock issuable upon conversion of this Note pursuant to Section
4(b).

 

“Delivery
Date” means with respect to Conversion Shares, the applicable Conversion Share Delivery Date.

 

“Delivery
Failure” has the meaning set forth Section 4(e).

 

    3

     

    

 

“Dispose”
and “Disposition” means the sale, transfer, license, lease or other disposition (including any sale and leaseback
transaction or by way of a merger) of any assets or property by any Person, including, without limitation, any sale, assignment,
transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith,
in each case, whether or not the consideration therefor consists of cash, securities or other assets owned by the acquiring Person,
excluding any sales of inventory in the ordinary course of business on ordinary business terms.

 

“Disqualified
Stock” shall mean, with respect to any person, any Equity Interests of such Person that, by its terms (or by the terms
of any security or other Equity Interests into which it is convertible or for which it is exchangeable) or upon the happening of
any event or condition (a) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (except as
a result of a Change of Control Transaction so long as any rights of the holders thereof upon the occurrence of a Change of Control
Transaction shall be subject to the prior repayment in full of the Note), (b) is redeemable at the option of the holder thereof,
in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable
for Indebtedness or any other Equity Interests that would constitute Disqualified Stock.

 

“Dollar
Volume Limitation” means 15% of the aggregate dollar trading volume of the Common Stock on the Principal Market (or other
applicable Trading Market) over the 20 consecutive Trading Day period ending on the Trading Day immediately preceding the commencement
of any Interest Notice Period. For the purposes of this definition, the term “dollar trading volume” for any VWAP Trading
Day shall be determined by multiplying the VWAP by the volume as reported on Bloomberg for such VWAP Trading Day.

 

“Domestic
Subsidiary” means any Subsidiary that is incorporated or organized under the laws of any state of the United States or
the District of Columbia, other than any such Subsidiary owned directly or indirectly by a Foreign Subsidiary.

 

“DTC”
means the Depository Trust Company.

 

“Equity
Conditions” means, during the period in question, (a) the Company shall not have failed to duly honor any conversions
scheduled to occur or occurring by virtue of one or more Notices of Conversion (b) the Company shall have paid all liquidated damages
and other amounts owing to the Holder in respect of this Note, (c) all of the shares of Common Stock issued, issuable or required
to be issued pursuant to the Transaction Documents are Freely Transferrable, (d) the Common Stock is trading on a Trading Market
and all shares of Common Stock issued, issuable or required to be issued pursuant to Section 2(a) of this Note are listed
or quoted (or approved for such listing or quotation, subject to notice of issuance) for trading on such Trading Market (and the
Company believes, in good faith, that trading of the Common Stock on a Trading Market will continue uninterrupted for the foreseeable
future) and the issuance of such shares of Common Stock pursuant to the Transaction Documents would not violate the rules and regulations
of any such Trading Market, (e) there is a sufficient number of authorized but unissued and otherwise unreserved shares of Common
Stock for the issuance of all of the shares then issuable pursuant to the Transaction Documents, (f) there is no existing Event
of Default and no existing event which, with the expiration of a cure period or the giving of notice, would constitute an Event
of Default, (g) the issuance of the shares of Common Stock in question to the Holder would not violate the limitations set forth
in Section 4(i), (h) there has been no public announcement of a pending or proposed Fundamental Transaction or Change of
Control Transaction that has not been consummated, (i) the applicable Holder is not in possession of any information provided by
or on behalf of the Company that constitutes, or may constitute, material non-public information, (j) the VWAP of the Common Stock
is at least $1.50 per share (proportionately adjusted for any stock split, stock dividend, stock combination or other similar transaction)
on each Trading Day, and (k) the Common Stock is DTC eligible (and not subject to “chill”) and the Company’s
transfer agent is participating in DTC’s Fast Automated Securities Transfer Program.

 

    4

     

    

 

“Equity
Interests” means, with respect to any Person, all of the shares of Capital Stock of (or other ownership or profit interests
in) such Person, all Common Stock Equivalents, all of the warrants, options or other rights for the purchase or acquisition from
such Person of shares of Capital Stock of (or other ownership or profit interests in) such Person, all of the securities convertible
into or exchangeable for shares of Capital Stock of (or other ownership or profit interests in) such Person or warrants, rights
or options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the other ownership
or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and
whether or not such shares, warrants, options, rights or other interests are outstanding on any date of determination.

 

“Event
of Default” shall have the meaning set forth in Section 7(a).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Ex-Dividend
Date” means, with respect to an issuance, dividend or distribution on the Common Stock, the first date on which shares
of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such issuance,
dividend or distribution (including pursuant to due bills or similar arrangements required by the relevant stock exchange). For
the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of the Common Stock
under a separate ticker symbol or CUSIP number will not be considered “regular way” for this purpose.

 

“Foreign
Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.

 

“Free
Cash” means unencumbered, unrestricted cash of the Company or any Guarantor (other than encumbrances or restrictions
arising under the Transaction Documents) on deposit in one or more bank accounts subject to Account Control Agreements.

 

    5

     

    

 

“Freely
Transferrable” means, with respect to any Note Shares issued or issuable to the Holder, that either:

 

(a) such
Note Shares may be resold by the Holder pursuant to Rule 144 without volume or manner-of-sale restrictions (each as provided in
Rule 144) as reasonably determined by Company Counsel; provided, however, this clause (a) shall not be deemed satisfied during
(1) any period that the Company is not in compliance with the current public information requirements under Rule 144(c) or any
information requirements of paragraph (i) of Rule 144, in each case if applicable, or (2) any Rule 12b-25 extension period with
respect to any quarterly or annual report of the Company that is not filed by the prescribed due date therefor (for the avoidance
of doubt, without giving effect to such extension period); or

 

(b) a
“resale” registration statement under the Securities Act, in customary form, is effective under the Securities Act,
registering the resale of such Note Shares by Holder and names Holder as a selling security holder thereunder, and such “resale”
registration statement is reasonably acceptable to the Holder.

 

“Fundamental
Transaction” means (a) the Company, directly or indirectly, in one or more related transactions effects any merger or
consolidation of the Company with or into another Person, (b) the Company, directly or indirectly, effects any sale, lease, exclusive
license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of
related transactions, (c) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another
Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other
securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (d) the Company,
directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of
the Common Stock (but, for the avoidance of doubt, excluding any transaction, event or occurrence covered by Section 5(a))
or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities,
cash or property, (e) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase
agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme
of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common Stock
(not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or Affiliated
with the other Persons making or party to, such stock or share purchase agreement or other business combination).

 

“Governmental
Authority” means any national, supranational, federal, state, county, provincial, local, municipal or other government
or political subdivision thereof (including any Regulatory Authority), whether domestic or foreign, and any agency, authority,
commission, ministry, instrumentality, regulatory body, court, tribunal, arbitrator, central bank or other Person exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to any such government.

 

    6

     

    

 

“Guarantor”
means any Subsidiary that has guaranteed the Company’s obligations hereunder and granted to the Holder a security interest
in substantially all of the assets of such Subsidiary.

 

“Indebtedness”
of a Person shall include (a) all obligations for borrowed money or the deferred purchase price of property or services (excluding
trade credit or accounts payable incurred in the ordinary course of business that are not more than 60 days past due), (b) all
obligations evidenced by bonds, debentures, notes, or other similar instruments and all reimbursement or other obligations in respect
of letters of credit, surety bonds, bankers acceptances, current swap agreements, interest rate hedging agreements, interest rate
swaps or other financial products, (c) all capital lease obligations, (d) all obligations or liabilities secured by a Lien on any
asset of such Person, irrespective of whether such obligation or liability is assumed by such Person, (e) any obligation arising
with respect to any other transaction that is the functional equivalent of borrowing but which does not constitute a liability
on the balance sheets of such Person, (f) Disqualified Stock, and (g) any obligation guaranteeing or intended to guarantee (whether
directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse) any of the foregoing obligations of any
other Person.

 

“Interest
Notice Period” means, with respect to each Interest Payment Date, the 20 consecutive Trading Days immediately preceding
such Interest Payment Date.

 

“Interest
Payment Date” shall have the meaning set forth in Section 2(a).

 

“Interest
Share Amount” shall have the meaning set forth in Section 2(a).

 

“Investments”
means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase
or other acquisition (including by merger) of Equity Interests of another Person, (b) a loan, advance or capital contribution to,
guarantee or assumption of debt of, or purchase or other acquisition of any other debt or interest in, another Person, or (c) the
purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business
unit or all or a substantial part of the business of, such Person.

 

“Last
Reported Sale Price” of the Common Stock for any Trading Day means the closing sale price per share (or, if no closing
sale price is reported, the average of the last bid price and the last ask price per share or, if more than one in either case,
the average of the average last bid prices and the average last ask prices per share) of Common Stock on such Trading Day as reported
in composite transactions for the Principal Market. If the Common Stock is not listed on a U.S. national or regional securities
exchange on such Trading Day, then the Last Reported Sale Price will be the last quoted bid price per share of Common Stock on
such Trading Day in the over-the-counter market as reported by OTC Markets Group Inc. or a similar organization. If the Common
Stock is not so quoted on such Trading Day, then the Last Reported Sale Price will be the average of the mid-point of the last
bid price and the last ask price per share of Common Stock on such Trading Day from a nationally recognized independent investment
banking firm selected by (and at the cost of) the Company; provided such firm shall be reasonably acceptable to the Holder.

 

    7

     

    

 

“Lien”
means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security interest, encumbrance, levy, lien or
charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional
sale or other title retention agreement, and any lease in the nature of a security interest.

 

“Market
Disruption Event” means, with respect to any date, the occurrence or existence, during the one-half hour period ending
at the scheduled close of trading on such date on the Principal Market, of any material suspension or limitation imposed on trading
(by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any
options, contracts or futures contracts relating to the Common Stock.

 

“Note
Register” shall have the meaning set forth in Section 2(c).

 

“Note
Shares” means all Conversion Shares.

 

“Notice
of Conversion” shall have the meaning set forth in Section 4(b)(i).

 

“Open
of Business” means 9:00 a.m., New York City time.

 

“Original
Issue Date” means September 15, 2020, regardless of any transfers of the Note or amendments to the Note and regardless
of the number of instruments which may be issued to evidence the Note.

 

“Permitted
Holder” means (a) Robert S. Ellin, (b) any Affiliate of Robert S. Ellin, provided, that such Robert S. Ellin is the record
and beneficial owner of at least 67% of the voting securities of such Affiliate, (c) the parents, spouse or lineal descendants
of Robert S. Ellin (it being understood that lineal descendants include children by adoption) and/or (d) any trust, the beneficiaries
of which include only Robert S. Ellin or the persons identified in clause (c).

 

“Permitted
Lien” means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental
charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good
faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company)
have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company’s
business, such as carriers’, warehousemen’s, materialmen’s and mechanics’ Liens, statutory landlords’
Liens, and other similar Liens arising in the ordinary course of the Company’s business, and which (x) do not individually
or in the aggregate materially detract from the value of the property or assets subject to such Lien or materially impair the use
thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith
by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of
the property or asset subject to such Lien, (c) Liens in favor of the Holder, (d) Liens for reasonable and customary banking fees
granted to banks or other financial institutions in the ordinary course of business in connection with, and which solely encumber,
deposit, disbursement or concentration accounts (other than in connection with borrowed money) maintained with such banks or financial
institutions that do not exceed $50,000 in the aggregate, (e) Liens in connection with Indebtedness incurred by lease obligations
and purchase money indebtedness, incurred in connection with the acquisition of capital assets and lease obligations with respect
to newly acquired or leased assets, provided that such lease obligations and purchase money indebtedness are only recourse to the
assets being acquired or leased, (f) Liens consisting of deposits or pledges made in the ordinary course of business in connection
with workers’ compensation, unemployment, social security and similar laws, (g) Liens in favor of any existing lenders in
connection with any Subsidiary acquired after the Original Issuance Date, provided that such Lien only encumbers the assets of
such after acquired Subsidiary, (h) Liens existing on the Original Issuance Date which are disclosed on Schedule A, and
(i) Liens which the Holder has consented to in writing.

 

    8

     

    

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Principal
Market” means the Nasdaq Capital Market or such other Trading Market where the Common Stock is then listed or quoted.

 

“Public
Information Failure” shall have the meaning set forth in the Purchase Agreement.

 

“Purchase
Agreement” means the Securities Purchase Agreement, dated as of July 2, 2020, among the Company and Holder, as amended,
modified or supplemented from time to time in accordance with its terms.

 

“Reference
Property” shall have the meaning set forth in Section 5(g).

 

“Reference
Property Unit” shall have the meaning set forth in Section 5(g).

 

“Requisite
Stockholder Approval” means any and all stockholder approvals that would be required under the listing standards of the
Nasdaq Capital Market to permit the Company to settle interest on this Note in shares of Common Stock pursuant to Section 2.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Significant
Subsidiary” shall have the meaning set forth in Rule 1-02(w) of Regulation S-X, but shall exclude LiveXLive Tickets,
Inc.

 

“Spin-Off”
shall have the meaning set forth in Section 5(c)(ii).

 

“Spin-Off
Valuation Period” shall have the meaning set forth in Section 5(c)(ii).

 

    9

     

    

 

“Stock
Payment Price” means, with respect to the Interest Shares Advance Date or Interest Payment Date in question, the lesser
of (a) 90% of the average of the 3 lowest VWAPs during the 20 consecutive VWAP Trading Day period immediately preceding such date
and (b) the Conversion Price in effect on such date; provided, however, that the Stock Payment Price will in no event be less than
$1.00 per share (proportionately adjusted for any stock split, stock dividend, stock combination or other similar transaction).

 

“Subsidiary”
means an entity, whether corporate, partnership, limited liability company, joint venture or otherwise, in which the Company owns
or controls 25% or more of the outstanding voting securities, including each entity listed on Schedule B hereto.

 

“Successor
Entity” shall have the meaning set forth in Section 5(g).

 

“Tender/Exchange
Offer Expiration Date” shall have the meaning set forth in Section 5(e).

 

“Tender/Exchange
Offer Expiration Time” shall have the meaning set forth in Section 5(e).

 

“Tender/Exchange
Offer Valuation Period” shall have the meaning set forth in Section 5(e).

 

“Trading
Day” means any day on which (a) trading in the Common Stock generally occurs on the principal Trading Market; and (b)
there is no Market Disruption Event. If the Common Stock is not so listed or traded, then “Trading Day” means a Business
Day.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange
or the Principal Market (or any successors to any of the foregoing).

 

“VWAP”
means, for any VWAP Trading Day, the price determined by the first of the following clauses that applies: (a) if the Common Stock
is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such VWAP Trading
Day (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported under
the heading “Bloomberg VWAP” on Bloomberg page “LIVX <EQUITY> AQR” (or, if such page is not available,
its equivalent successor page), in respect of the period from 9:30 a.m. (local time in New York City, New York) to 4:00 p.m. (local
time in New York City, New York) or (b) if such volume-weighted average price is unavailable, the fair market value of a share
of Common Stock as of such VWAP Trading Day as determined by a nationally recognized independent investment banking firm selected
by (and at the cost of) the Company.

 

“VWAP
Market Disruption Event” means, with respect to any date, (a) the failure by a principal Trading Market to open for trading
during its regular trading session on such date; or (b) the occurrence or existence, for more than one half hour period in the
aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the
relevant exchange or otherwise) in the Common Stock or in any options, contracts or futures contracts relating to the Common Stock,
and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such date.

 

    10

     

    

 

“VWAP
Trading Day” means a day on which (a) there is no VWAP Market Disruption Event; and (b) trading in the Common Stock generally
occurs on the principal Trading Market.

 

Section 2.Interest;
No Prepayment.

 

(a) Payment
of Interest in Cash. The Company shall pay interest to the Holder on the aggregate then outstanding principal amount of this
Note at the Applicable Interest Rate, payable quarterly in arrears as of the last Trading Day of each fiscal quarter (beginning
with the fiscal quarter ending September 30, 2020) and on the Maturity Date (each such date, an “Interest Payment Date”),
in cash . The Note shall not be prepaid without written consent of Holder.

 

(b) [Intentionally
Deleted]

 

(c) Interest
Calculations. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, and shall accrue
daily (but without compounding) commencing on the Original Issue Date until payment in full of the outstanding principal (including,
for the avoidance of doubt, any original issue discount), together with all accrued and unpaid interest, liquidated damages and
other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person in whose name this Note
is registered on the records of the Company regarding registration and transfers of this Note (the “Note Register”)
or such Person’s designee identified to the Company in writing

 

Section 3.Registration
of Transfers and Exchanges.

 

(a) Different
Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations,
as requested by the Holder surrendering the same. No service charge will be payable for such registration of transfer or exchange.

 

(b) Investment
Representations. This Note has been issued subject to certain investment representations of the original Holder set forth in
the Purchase Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal
and state securities laws and regulations.

 

(c) Reliance
on Note Register. Prior to due presentment for transfer to the Company of this Note, the Company and any agent of the Company
may treat the Person in whose name this Note is duly registered on the Note Register as the owner hereof for the purpose of receiving
payment as herein provided and for all other purposes, whether or not this Note is overdue, and neither the Company nor any such
agent shall be affected by notice to the contrary.

 

    11

     

    

 

Section 4.Voluntary
Conversion; Delivery of Note Shares.

 

(a) Intentionally
Omitted.

 

(b) Voluntary
Conversion.

 

(i) Voluntary
Conversion. Commencing on the Original Issue Date, and thereafter from time to time until this Note is no longer outstanding,
this Note shall be convertible, in whole or in part having a principal amount that is an integral multiple of $1,000 (or such lesser
principal amount of this Note as may then be outstanding), into shares of Common Stock at the option of the Holder, subject to
the conversion limitations set forth in Section 4(i). The Holder shall effect conversions by delivering to the Company a
Notice of Conversion, the form of which is attached hereto as Annex A (each, a “Notice of Conversion”),
specifying therein the principal amount of this Note to be converted. The date such Notice of Conversion is deemed delivered hereunder
will be deemed to be the “Conversion Date.” No ink-original Notice of Conversion shall be required, nor shall
any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required. To effect conversions
hereunder, the Holder shall not be required to physically surrender this Note to the Company unless the entire principal amount
of this Note, plus all accrued and unpaid interest thereon, has been so converted. Conversions hereunder shall have the effect
of lowering the outstanding principal amount of this Note in an amount equal to the applicable conversion. The Holder and the Company
shall maintain records showing the principal amount(s) converted and the date of such conversion(s). In the event of any dispute
or discrepancy, the records of the Holder shall be controlling and determinative in the absence of manifest error. The Holder,
and any assignee by acceptance of this Note, acknowledge and agree that, by reason of the provisions of this paragraph, following
conversion of a portion of this Note, the unpaid and unconverted principal amount of this Note may be less than the amount stated
on the face hereof.

 

(ii) Conversion
Price. The conversion price in effect on any Conversion Date shall be equal to $4.50, subject to adjustment as provided herein
(the “Conversion Price”).

 

(iii) Conversion
Shares Issuable Upon Conversion of Principal Amount; Delivery Date. The number of Conversion Shares issuable upon a conversion
hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this Note to be converted
(plus, to extent the Company so elects pursuant to the immediately following sentence, accrued and unpaid interest thereon to,
but excluding, the applicable Conversion Date) by (y) the Conversion Price in effect on the applicable Conversion Date. Upon conversion
of any portion of this Note, accrued and unpaid interest on such converted portion to, but excluding, the applicable Conversion
Date will be paid, at the Company’s election, either (A) in cash to be delivered on or before the related Conversion Share
Delivery Date or (B) by adding such accrued and unpaid interest to the amount referred to in clause (x) above; provided, however,
that the Company will not have the right to, and will not, elect to pay such accrued and unpaid interest in the manner provided
in clause (B) above if such election is not then permitted by the listing standards of the Principal Market. The Company shall
deliver all Conversion Shares to the Holder within two (2) Trading Days after the date of the applicable Notice of Conversion (the
date by which such delivery must be made, subject to Sections 5(c)(ii), 5(e) and 5(f)(ii), the “Conversion
Share Delivery Date”).

 

    12

     

    

 

(c) Intentionally
Omitted.

 

(d) Delivery
of Certificate for Conversion Shares. The Company shall deliver to the Holder a certificate or certificates for the full number
of Note Shares required to be delivered by the applicable Delivery Date; provided, however, that following the 6 month anniversary
of the Original Issue Date (and provided, without limiting any rights of the Holder under this Note or the other Transaction Documents,
that the Company is compliance with the public information requirements of Rule 144(c), if applicable, and all information requirements
of Rule 144(i)), the Company shall deliver any Note Shares required to be issued by the Company electronically through DTC without
restrictive legends or trading restrictions of any kind not later than the applicable Delivery Date. The Company shall, at its
own expense, cause there to be issued one or more legal opinions, if any, required to issue Note Shares without any restrictive
legends or trading restrictions of any kind. If Conversion Shares are not delivered to or as directed by the applicable Delivery
Date, the Holder shall, in addition to, and not in limitation of, its other rights and remedies under this Note and the other Transaction
Documents, be entitled to elect by written notice to the Company at any time on or before its receipt of such Conversion Shares,
to rescind the applicable Notice of Conversion.

 

(e) Obligation
Absolute; Partial Liquidated Damages. The Company’s obligations to issue and deliver Note Shares in accordance with the
terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver
or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same,
or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other
Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective
of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the issuance
of Note Shares; provided, however, that such delivery shall not operate as a waiver by the Company of any such action the Company
may have against the Holder. The Company may not refuse to issue any Note Shares required to be issued hereunder based on any claim
that the Holder or anyone associated or Affiliated with the Holder has been engaged in any violation of law, agreement or for any
other reason, unless an injunction from a court, on notice to Holder, shall have been sought and obtained, and the Company posts
a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Note, which is subject
to the injunction, which bond shall remain in effect until the completion of litigation of the underlying dispute and the proceeds
of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, the Company shall
issue Note Shares required to be issued hereunder in accordance with the terms hereof. If the Company fails for any reason to deliver
to the Holder Note Shares required to be issued pursuant to any provision of this Note by the second Trading Day following the
applicable Delivery Date (a “Delivery Failure”), the Company shall pay to the Holder, in cash, as partial liquidated
damages and not as a penalty, for each $1,000 of principal amount being redeemed or converted, as applicable, $1.25 per Trading
Day for each Trading Day after the second Trading Day following such Delivery Date until such Note Shares are delivered or the
Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event
of Default pursuant to Section 7 hereof for the Company’s failure to deliver Note Shares within the applicable period
specified in this Note and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity
including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall
not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law. Without limiting
the foregoing, the Company acknowledges that to the extent that the Company does not honor, or indicates to the Holder that it
will not honor, Conversion Notices (a “Repudiation”) the Holder’s damages, in addition to out-of-pocket
expenses and other damages, shall include Holder’s entire lost profit resulting from its inability to receive Note Shares,
which lost profit shall be calculated as the maximum number of Note Shares that the Holder would have been able to receive pursuant
to any provision of this Note at or following the time of such Repudiation multiplied by any reported trading price of the Common
Stock from and after the time of the Repudiation selected by the Holder (whether or not the Holder has actually tendered Conversion
Notices for such maximum number of Note Shares).

 

    13

     

    

 

(f) Compensation
for Buy-In on Failure to Timely Deliver Certificates. If the Company shall fail for any reason, or for no reason, on or prior
to the applicable Delivery Date to deliver share certificates or credit the Holder’s or its broker’s DTC account (whichever
is required pursuant to Section 4(d)), for such number of Note Shares to which the Holder is entitled under this Note (a
“Delivery Failure”) and if on or after such Delivery Date the Holder purchases (in an open market transaction
or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of shares of Common Stock issuable pursuant
to this Note that the Holder anticipated receiving from the Company (a “Buy-In”), then, in addition to all other
remedies available to the Holder, the Company shall, within three (3) Trading Days after the Holder’s request and in the Holder’s
discretion, either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions
and other reasonable out-of-pocket expenses, if any) for the shares of Common Stock so purchased (the “Buy-In Price”),
at which point the Company’s obligation to credit such Holder’s or its broker’s DTC account for such Note Shares shall terminate,
or (ii) promptly honor its obligation to deliver such share certificates or credit such Holder’s or its broker’s DTC account,
as applicable, and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A)
such number of Note Shares, times (B) any trading price of the shares of Common Stock selected by the Holder in writing as in effect
at any time during the period beginning on the Interest Shares Advance Date, Interest Payment Date or Conversion Share Delivery,
as applicable, and ending on the applicable Delivery Date. Nothing shall limit the Holder’s right to pursue any other remedies
available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive
relief with respect to the Company’s failure to timely deliver Note Shares pursuant to the terms hereof. Notwithstanding anything
to the contrary herein, any cash payment paid pursuant to this Section 4(f) will reduce any amounts that may be due to the
Holder on account of the Delivery Failure pursuant to Section 4(e).

 

(g) Fractional
Shares. No fractional shares or scrip representing fractional shares shall be issued under this Note. As to any fraction of
a share which the Holder would otherwise be entitled, the Company shall pay a cash amount equal to the product of the VWAP on the
applicable Conversion Date and such fraction.

 

(h) Transfer
Taxes and Expenses. The issuance of Note Shares shall be made without charge to the Holder hereof for any documentary stamp
or similar taxes that may be payable in respect of the issue or delivery of such Note Shares, other than any tax that may be payable
as a result of any Holder requesting any Note Share to be issued to or registered in the name of a person other than such Holder.
The Company shall pay all Transfer Agent fees required for processing of any issuance of Note Shares and all fees to DTC (or another
established clearing corporation performing similar functions) required for same-day electronic delivery of Note Shares.

 

    14

     

    

 

(i) Beneficial
Ownership Limitation. Notwithstanding anything to the contrary set forth in this Note, at no time may the Company issue to
the Holder Note Shares to the extent that after giving effect to such issuance, the Holder (together with the Holder’s Affiliates,
and any Persons acting as a group together with the Holder or any of the Holder’s Affiliates) would beneficially own in excess
of the Beneficial Ownership Limitation (as defined below).  For purposes of this Section 4(i), beneficial ownership shall
be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. To the
extent that the limitation contained in this Section 4(i) applies, the determination of whether shares of Common Stock may be issued
pursuant to this Note (in relation to other securities owned by the Holder together with any Affiliates) shall be in the sole discretion
of the Holder, and the submission of a Notice of Conversion shall be deemed to be the Holder’s determination of whether shares
of Common Stock may be issued pursuant to this Note (in relation to other securities owned by the Holder together with any Affiliates)
subject to the Beneficial Ownership Limitation. In addition, the Holder may notify the Company that the issuance of any Note Shares
would cause the Holder to exceed the Beneficial Ownership Limitation, in which case, the Company shall only issue to the Holder
such number of shares of Common Stock that would not cause the Holder to exceed the Beneficial Ownership (as determined by the
Holder in accordance with this Section 4(i)). 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 4(i), in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding
shares of Common Stock as stated in the most recent of the following: (i) the Company’s most recent periodic or annual report
filed with the Commission, as the case may be, (ii) a more recent public announcement by the Company, or (iii) a more recent written
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 (2) Trading Days confirm orally and in writing to the
Holder the number of shares of Common Stock then actually outstanding. For purposes of determining beneficial ownership pursuant
to this Section 4(i), the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion
or exercise of securities of the Company by the Holder or its Affiliates since the date as of which such number of outstanding
shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.9% of the number of shares
of the Common Stock outstanding immediately after giving effect to the applicable issuance of shares of Common Stock pursuant to
this Note held by the Holder. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease
the Beneficial Ownership Limitation provisions of this Section 4(i), provided that the Beneficial Ownership Limitation in no event
exceeds 9.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock pursuant to the terms of this Note and the Beneficial Ownership Limitation provisions of this Section 4(i) shall
continue to apply. Any such increase or decrease will not be effective until the sixty-first day after such notice is delivered
to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section 4(i) to correct this paragraph (or any portion hereof) which
may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a
successor holder of this Note.

 

    15

     

    

 

Section 5.Certain
Adjustments.

 

(a) Stock
Dividends, Splits and Combinations. If the Company issues solely shares of Common Stock as a dividend or distribution on all
or substantially all shares of the Common Stock, or if the Company effects a stock split or a stock combination of the Common Stock
(in each case excluding an issuance solely pursuant to a Common Stock Change Event, as to which Section 5(g) will apply),
then the Conversion Price will be adjusted based on the following formula:

 

	CP1 = CP0 × 	OS0
	OS1

 

where:

 

	 	CP0	= 	the Conversion Price in effect immediately before the Open of Business on the Ex-Dividend Date for such dividend or distribution, or immediately before the Open of Business on the effective date of such stock split or stock combination, as applicable;
	 	 	 	 
	 	CP1	= 	the Conversion Price in effect immediately after the Open of Business on such Ex-Dividend Date or the Open of Business on such effective date, as applicable;
	 	 	 	 
	 	OS0	= 	the number of shares of Common Stock outstanding immediately before the Open of Business on such Ex-Dividend Date or effective date, as applicable, without giving effect to such dividend, distribution, stock split or stock combination; and
	 	 	 	 
	 	OS1	=	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, stock split or stock combination.

 

If any dividend,
distribution, stock split or stock combination of the type described in this Section 5(a) is declared or announced, but
not so paid or made, then the Conversion Price will be readjusted, effective as of the date the Company determines not to pay such
dividend or distribution or to effect such stock split or stock combination, to the Conversion Price that would then be in effect
had such dividend, distribution, stock split or stock combination not been declared or announced.

 

    16

     

    

 

(b) Rights,
Options and Warrants. If the Company distributes, to all or substantially all holders of Common Stock, rights, options or warrants
(other than rights issued or otherwise distributed pursuant to a stockholder rights plan, as to which the provisions set forth
in Sections 5(c)(i) and 5(f)(iii) will apply) entitling such holders, for a period of not more than 60 calendar days
after the record date of such distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less
than the average of the Last Reported Sale Prices per share of Common Stock for the 10 consecutive Trading Days ending on, and
including, the Trading Day immediately before the date such distribution is announced, then the Conversion Price will be based
on the following formula:

 

	CP1 = CP0 × 	OS + Y
	OS + X

 

where:

 

	 	CP0	= 	the Conversion Price in effect immediately before the Open of Business on the Ex-Dividend Date for such distribution;
	 	 	 	 
	 	CP1	= 	the Conversion Price in effect immediately after the Open of Business on such Ex-Dividend Date;
	 	 	 	 
	 	OS	= 	the number of shares of Common Stock outstanding immediately before the Open of Business on such Ex-Dividend Date;
	 	 	 	 
	 	X	= 	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
	 	 	 	 
	 	Y	=	a number of shares of Common Stock obtained by dividing (x) the aggregate price payable to exercise such rights, options or warrants by (y) the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced.

 

To the extent
that shares of Common Stock are not delivered after the expiration of such rights, options or warrants (including as a result of
such rights, options or warrants not being exercised), the Conversion Price will be readjusted to the Conversion Price that would
then be in effect had the decrease to the Conversion Price for such distribution been made on the basis of delivery of only the
number of shares of Common Stock actually delivered upon exercise of such rights, option or warrants. To the extent such rights,
options or warrants are not so distributed, the Conversion Price will be readjusted to the Conversion Price that would then be
in effect had the Ex-Dividend Date for the distribution of such rights, options or warrants not occurred.

 

For purposes
of this Section 5(b), in determining whether any rights, options or warrants entitle holders of Common Stock to subscribe
for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale Prices per
share of Common Stock for the 10 consecutive Trading Days ending on, and including, the Trading Day immediately before the date
of the distribution of such rights, options or warrants is announced, and in determining the aggregate price payable to exercise
such rights, options or warrants, there will be taken into account any consideration the Company receives for such rights, options
or warrants and any amount payable on exercise thereof, with the value of such consideration, if not cash, to be determined by
the Company in good faith.

 

    17

     

    

 

(c) Spin-Offs
and Other Distributed Property.

 

(i) Distributions
Other than Spin-Offs. If the Company distributes shares of its Capital Stock, evidences of its indebtedness or other assets
or property of the Company, or rights, options or warrants to acquire Capital Stock of the Company or other securities, to all
or substantially all holders of the Common Stock, excluding:

 

	 	(1)	dividends, distributions, rights, options or warrants for which an adjustment to the Conversion Price is required (or would be required without regard to Section 5(f)(iv)) pursuant to Section 5(a) or Section 5(b);
	 	 	 
	 	(2)	dividends or distributions paid exclusively in cash for which an adjustment to the Conversion Price is required (or would be required without regard to Section 5(f)(iv)) pursuant to Section 5(d);
	 	 	 
	 	(3)	rights issued or otherwise distributed pursuant to a stockholder rights plan, except to the extent provided in Section 5(f)(iii); or
	 	 	 
	 	(4)	Spin-Offs for which an adjustment to the Conversion Price is required (or would be required without regard to Section 5(f)(iv)) pursuant to Section 5(c)(ii); and
	 	 	 
	 	(5)	a distribution solely pursuant to a Common Stock Change Event, as to which Section 5(g) will apply,

 

then the Conversion Price
will be decreased based on the following formula:

 

	CP1 = CP0 × 	SP – FMV
	SP

 

where:

 

	 	CP0	=	the Conversion Price in effect immediately before the Open of Business on the Ex-Dividend Date for such distribution;
	 	 	 	 
	 	CP1	= 	the Conversion Price in effect immediately after the Open of Business on such Ex-Dividend Date;
	 	 	 	 
	 	SP	= 	the average of the Last Reported Sale Prices per share of Common Stock for the 10 consecutive Trading Days ending on, and including, the Trading Day immediately before such Ex-Dividend Date; and
	 	 	 	 
	 	FMV	= 	the fair market value (as determined by the Company in good faith), as of such Ex-Dividend Date, of the shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or warrants distributed per share of Common Stock pursuant to such distribution;

 

    18

     

    

 

provided,
however, that if FMV is equal to or greater than SP, then, in lieu of the foregoing adjustment to the Conversion
Price, the Holder will participate in such distribution, at the same time and on the same terms as holders of Common Stock and
without converting any Notes, as if the Holder held, on the record date for such distribution, a number of Conversion Shares that
would have been issuable upon conversion of the total outstanding principal amount of Notes held by such Holder as of such record
date assuming such outstanding principal amount were converted with a Conversion Date occurring on such record date.

 

To the extent
such distribution is not so paid or made, or such rights, options or warrants are not exercised before their expiration (including
as a result of being redeemed or terminated), the Conversion Price will be readjusted to the Conversion Price that would then be
in effect had the adjustment been made on the basis of only the distribution, if any, actually made or paid or on the basis of
the distribution of only such rights, options or warrants, if any, that were actually exercised, if at all.

 

(ii) Spin-Offs.
If the Company distributes or dividends shares of Capital Stock of any class or series, or similar equity interest, of or relating
to an Affiliate, a Subsidiary or other business unit of the Company to all or substantially all holders of the Common Stock (other
than solely pursuant to a Common Stock Change Event, as to which Section 5(g) will apply), and such Capital Stock or equity
interest is listed or quoted (or will be listed or quoted upon the consummation of the transaction) on a U.S. national securities
exchange (a “Spin-Off”), then the Conversion Price will be decreased based on the following formula:

 

	EP1 = EP0 × 	SP
	FMV + SP

 

where:

 

	 	CP0	=	the Conversion Price in effect immediately before the Open of Business on the Ex-Dividend Date for such Spin-Off;
	 	 	 	 
	 	CP1	= 	the Conversion Price in effect immediately after the Open of Business on such Ex-Dividend Date;
	 	 	 	 
	 	FMV	=	the product of (x) the average of the Last Reported Sale Prices per share or unit of the Capital Stock or equity interests distributed in such Spin-Off over the 10 consecutive Trading Day period (the “Spin-Off Valuation Period”) beginning on, and including, such Ex-Dividend Date (such average to be determined as if references to Common Stock in the definitions of Last Reported Sale Price and Trading Day were instead references to such Capital Stock or equity interests); and (y) the number of shares or units of such Capital Stock or equity interests distributed per share of Common Stock in such Spin-Off; and
	 	 	 	 
	 	SP	=	the average of the Last Reported Sale Prices per share of Common Stock for each Trading Day in the Spin-Off Valuation Period.

 

    19

     

    

 

The adjustment
to the Conversion Price pursuant to this Section 5(c)(ii) will be calculated as of the Close of Business on the last Trading
Day of the Spin-Off Valuation Period but will be given effect immediately after the Open of Business on the Ex-Dividend Date for
the Spin-Off, with retroactive effect. If this Note is exercised and the Conversion Date occurs during the Spin-Off Valuation Period,
then, notwithstanding anything to the contrary in this Note, the Company will, if necessary, delay the settlement of such exercise
until the third Trading Day after the last day of the Spin-Off Valuation Period.

 

To the extent
any dividend or distribution of the type set forth in this Section 5(c)(ii) is declared but not made or paid, the Conversion
Price will be readjusted to the Conversion Price that would then be in effect had the adjustment been made on the basis of only
the dividend or distribution, if any, actually made or paid.

 

(d) Cash
Dividends or Distributions. If any cash dividend or distribution is made to all or substantially all holders of Common Stock,
then the Conversion Price will be decreased based on the following formula:

 

	EP1 = EP0 × 	SP – D
	SP

 

where:

 

	 	CP0	= 	the Conversion Price in effect immediately before the Open of Business on the Ex-Dividend Date for such dividend or distribution;
	 	 	 	 
	 	CP1	= 	the Conversion Price in effect immediately after the Open of Business on such Ex-Dividend Date;
	 	 	 	 
	 	SP	= 	the Last Reported Sale Price per share of Common Stock on the Trading Day immediately before such Ex-Dividend Date; and
	 	 	 	 
	 	D	=	the cash amount distributed per share of Common Stock in such dividend or distribution;

 

provided,
however, that if D is equal to or greater than SP, then, in lieu of the foregoing adjustment to the Conversion
Price, the Holder will participate in such dividend or distribution, at the same time and on the same terms as holders of Common
Stock and without converting the Note, as if the Holder held, on the record date for such dividend or distribution, a number of
Conversion Shares that would have been issuable upon conversion of the total outstanding principal amount of the Note held by Holder
as of such record date assuming such outstanding principal amount were converted with a Conversion Date occurring on such record
date.

 

    20

     

    

 

To the extent
such dividend or distribution is declared but not made or paid, the Conversion Price will be readjusted to the Conversion Price
that would then be in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made
or paid.

 

(e) Tender
Offers or Exchange Offers. If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or exchange
offer for shares of Common Stock, and the value (determined as of the Tender/Exchange Offer Expiration Time by the Company in good
faith) of the cash and other consideration paid per share of Common Stock in such tender or exchange offer exceeds the Last Reported
Sale Price per share of Common Stock on the Trading Day immediately after the last date (the “Tender/Exchange Offer Expiration
Date”) on which tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be amended), then
the Conversion Price will be decreased based on the following formula:

 

	EP1 = EP0 × 	OS0 × SP
	AC + (SP × OS1)

 

where:

 

	 	CP0	= 	the Conversion Price in effect immediately before the time (the “Tender/Exchange Offer Expiration Time”) such tender or exchange offer expires;
	 	 	 	 
	 	CP1	= 	the Conversion Price in effect immediately after the Tender/Exchange Offer Expiration Time;
	 	 	 	 
	 	AC	= 	the aggregate value (determined as of the Tender/Exchange Offer Expiration Time by the Company in good faith) of all cash and other consideration paid for shares of Common Stock purchased in such tender or exchange offer;
	 	 	 	 
	 	OS0	= 	the number of shares of Common Stock outstanding immediately before the Tender/Exchange Offer Expiration Time (before giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);
	 	 	 	 
	 	OS1	=	the number of shares of Common Stock outstanding immediately after the Tender/Exchange Offer Expiration Time (excluding all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer); and
	 	 	 	 
	 	SP	= 	the average of the Last Reported Sale Prices per of Common Stock over the 10 consecutive Trading Day period (the “Tender/Exchange Offer Valuation Period”) beginning on, and including, the Trading Day immediately after the Tender/Exchange Offer Expiration Date;

 

    21

     

    

 

provided,
however, that the Conversion Price will in no event be adjusted upwards pursuant to this Section 5(e), except to
the extent provided in the immediately following paragraph. The adjustment to the Conversion Price pursuant to this Section
5(e) will be calculated as of the Close of Business on the last Trading Day of the Tender/Exchange Offer Valuation Period but
will be given effect immediately after the Tender/Exchange Offer Expiration Time, with retroactive effect. If this Note is converted
and the Conversion Date occurs during the Tender/Exchange Offer Valuation Period, then, notwithstanding anything to the contrary
in this Note, the Company will, if necessary, delay the settlement of such exercise until the third Trading Day after the last
day of the Tender/Exchange Offer Valuation Period.

 

To the extent
such tender or exchange offer is announced but not consummated (including as a result of the Company being precluded from consummating
such tender or exchange offer under applicable law), or any purchases or exchanges of shares of Common Stock in such tender or
exchange offer are rescinded, the Conversion Price will be readjusted to the Conversion Price that would then be in effect had
the adjustment been made on the basis of only the purchases or exchanges of shares of Common Stock, if any, actually made, and
not rescinded, in such tender or exchange offer.

 

(f) No
Adjustment in Certain Cases.

 

(i) Where
Holders Participate in the Transaction or Event Without Conversion. Notwithstanding anything to the contrary in Section
5, the Company will not be obligated to adjust the Conversion Price on account of a transaction or other event otherwise requiring
an adjustment pursuant to clauses (b) through (d) of this Section 5 if the Holder participates, at the same time and on
the same terms as holders of Common Stock, in such transaction or event without having to convert Holder’s Note, as if the
Holder held, on the record date for such transaction or event, a number of Conversion Shares that would have been issuable upon
conversion of the total outstanding principal amount of the Note held by Holder as of such record date assuming such outstanding
principal amount were converted with a Conversion Date occurring on such record date.

 

(ii) Conversion
Rate Adjustments where Converting Holders Participate in the Relevant Transaction or Event. Notwithstanding anything
to the contrary, if (1) a Conversion Price adjustment for any dividend or distribution becomes effective on any Ex-Dividend Date
pursuant to clauses (a) through (e) of this Section 5; (2) any portion of this Note is to be converted; (3) the Conversion
Date for such conversion occurs on or after such Ex-Dividend Date and on or before the related record date; (4) the Conversion
Shares due upon such conversion are calculated based on a Conversion Price that is adjusted for such dividend or distribution;
and (5) such shares would be entitled to participate in such dividend or distribution (including pursuant to Section 5(h)),
then (x) such Conversion Price adjustment will not be given effect for such conversion; and (y) the Conversion Shares issuable
upon such conversion based on such unadjusted Conversion Price will be entitled to participate in such dividend or distribution.

 

    22

     

    

 

(iii) Stockholder
Rights Plans. If any Conversion Shares are to be issued upon conversion of this Note and, at the time of such conversion, the
Company has in effect any stockholder rights plan, then the Holder will be entitled to receive, in addition to, and concurrently
with the delivery of, the Conversion Shares otherwise payable hereunder upon such conversion, the rights set forth in such stockholder
rights plan, unless such rights have separated from the Common Stock at such time, in which case, and only in such case, the Conversion
Price will be adjusted pursuant to Section 5(c)(i) on account of such separation as if, at the time of such separation,
the Company had made a distribution of the type referred to in such Section to all holders of the Common Stock, subject to readjustment
in accordance with such Section if such rights expire, terminate or are redeemed.

 

(iv) Adjustment
Deferral. If an adjustment to the Conversion Rate otherwise required by clauses (b) through (d) of this Section 5 would
result in a change of less than one percent (1%) to the Conversion Price, then, notwithstanding anything to the contrary, the Company
may, at its election, defer such adjustment, except that all such deferred adjustments must be given effect immediately upon the
earliest of the following: (i) when all such deferred adjustments would result in a change of at least one percent (1%) to the
Conversion Price; and (ii) the Conversion Date of any portion of this Note.

 

(g) Fundamental
Transaction. If, at any time while this Note is outstanding, the Company effects a Fundamental Transaction pursuant to which
the Common Stock is exchanged for, converted into, or represents solely the right to receive any other securities, cash or other
property (such transaction, a “Common Stock Change Event,” and such other securities, cash or property, the
“Reference Property,” and the amount and kind of Reference Property that a holder of one share of Common Stock
would be entitled to receive on account of such Fundamental Transaction (without giving effect to any arrangement not to issue
or deliver a fractional portion of any security or other property), a “Reference Property Unit”), then, notwithstanding
anything herein to the contrary, upon any conversion of this Note on or after the effective date of such Fundamental Transaction,
each Note Share issuable hereunder will be payable hereunder in Reference Property determined in the same manner as if each reference
to any number of shares of Common Stock herein (including in any definitions) were instead a reference to the same number of Reference
Property Units. 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 composition of the Reference Property Unit will be deemed to be the types and amounts of consideration actually
received, per share of Common Stock, by the holders of Common Stock. The Company shall, if applicable, cause any successor entity
in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in
writing all of the obligations of the Company under this Note in accordance with the provisions of this Section 5(e) pursuant
to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable
delay) prior to such Fundamental Transaction and shall, at the option of the Holder of this Note, deliver to the Holder in exchange
for this Note a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance
to this Note which is convertible for a corresponding number of Reference Property Units within five (5) Business Days of such
Fundamental Transaction. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall, if applicable, succeed
to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Note and the
other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise
every right and power of the Company and shall assume all of the obligations of the Company under this Note and the other Transaction
Documents with the same effect as if such Successor Entity had been named as the Company herein. For the avoidance of doubt, nothing
in this Section 5(g) shall be deemed implied consent to any Fundamental Transaction otherwise prohibited by the Transaction
Documents.

 

    23

     

    

 

(h) Holder
of Record of Conversion Shares. The Person in whose name any Conversion Share is issuable upon conversion of this Note will
be deemed to become the holder of record of such share as of the Close of Business on the Conversion Date for such conversion.

 

(i) Calculations.
All calculations under this Section 5 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 5, 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 any treasury shares of the Company) issued and outstanding.

 

(j) Notice
to the Holder.

 

(i) Adjustment
to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, the Company
shall promptly deliver to the Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief
statement of the facts requiring such adjustment.

 

(ii) Notice
to Allow Conversion by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on
the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C)
the Company shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase
any shares of Capital Stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required
in connection with any reclassification of the Common Stock, any Fundamental Transaction, Change of Control, consolidation or merger
to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory
share exchange whereby the Common Stock is converted into other securities, cash or property or (E) the Company shall authorize
the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company
shall cause to be filed at each office or agency maintained for the purpose of conversion of this Note, and shall cause to be delivered
to the Holder at its last address as it shall appear upon the Note Register, at least 20 calendar days prior to the applicable
record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose
of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders
of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective
or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their
shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger,
sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K filed with the Commission. The
Holder shall remain entitled to convert this Note during the 20-day period commencing on the date of such notice through the effective
date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

    24

     

    

 

(k) No
Implied Consent. The provisions of this Section 5 shall not be deemed to be implied consent to any transaction or other
thing otherwise prohibited by the terms and conditions of this Note and the other Transaction Documents.

 

Section 6.Covenants.

 

(a) As
long as any portion of this Note remains outstanding, and unless the Holder shall have otherwise given prior written consent, the
Company shall not, and shall not permit any of the Subsidiaries to, directly or indirectly:

 

(i) issue
Disqualified Stock;

 

(ii) amend
its charter documents, including, without limitation, its certificate of incorporation and bylaws, in any manner that adversely
affects any rights of the Holder under the Transaction Documents in any material respects;

 

(iii) repay,
repurchase or offer to repay, repurchase or otherwise acquire any of its Equity Interests, other than repurchases of Common Stock
or Common Stock Equivalents of departing officers, directors, and employees of the Company, provided that such repurchases shall
not exceed an aggregate of $250,000 for all officers, directors, and employees during the term of this Note;

 

(iv) pay
or make dividends or distributions on any of its Equity Interests, except that any Subsidiary may, directly or indirectly, pay
or make any dividend or distribution to the Company;

 

(v) create
any new Domestic Subsidiary unless such Subsidiary is promptly added as a Guarantor and promptly executes a joinder to the Subsidiary
Guaranty and Security Agreement;

 

(vi) enter
into any transaction with any Affiliate of the Company which would be required to be disclosed in any public filing with the Commission
(other than any transaction between or among any of the Company and one or more Guarantors), unless such transaction is made on
an arm’s length basis and expressly approved by a majority of the disinterested directors of the Company (even if less than
a quorum otherwise required for board approval);

 

(vii) maintain
deposit accounts, or accounts holding investment property, except (1) with respect to which the Holder has an Account Control Agreement
and (2) which hold a balance of no more than $250,000, provided however, that the aggregate amount of cash held in accounts that
are not subject to Account Control Agreements shall not exceed $1,000,000 at any time (for the avoidance of doubt, this clause
(v) being subject to Section 2.4(a) of the Purchase Agreement); or

 

    25

     

    

 

(viii) enter
into any unconditional binding agreements in violation of any of the foregoing covenants.

 

(b) Holder
Cooperation Related to Note Shares and Informational Requirements. The Holder will reasonably cooperate with the Company in
connection with the issuance of Note Shares through the book-entry facilities of The Depository Trust Company. The Holder shall
provide a customary seller representation letter and cause its broker to provide a customary broker representation letter, and
the Company shall provide a customary issuer representation letter, in connection therewith. Holder agrees that it will not effect
any resale of Note Shares unless (i) such resale is pursuant to an effective registration statement under the Securities Act, (ii)
the Company is then in compliance with the informational requirements of Rule 144(c), if applicable, and the requirements of Rule
144(i)(2) or (iii) such Holder provides to the Company an opinion of its counsel, which opinion is reasonably acceptable to the
Company, that such sale is otherwise permissible in accordance with Section 4(a)(1) of the Securities Act. Upon request by any
Holder, the Company will promptly confirm (as promptly as practicable after the Holder’s request if such request is made
between the Open of Business and the Close of Business on a Business Day) whether or not such informational and other requirements
are satisfied, and the Holder will be entitled to rely on such confirmation. In addition, the Holder shall cause its broker to
provide an undertaking from such broker that prior to executing any sale of Note Shares on behalf of Holder, such broker will confirm
the Company has filed with the Commission the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q required to be filed
under Section 13 or 15(d) of the Exchange Act within the preceding 12 months (a “Broker Undertaking”). The Broker
Undertaking shall further provide that no sales of any Note Shares shall be made by such broker if the Holder has received a Company
Non-Compliance Notice (as defined below). Notwithstanding the foregoing, the Company shall promptly notify the Holder in the event
the Company is not in compliance with the informational requirements of Rule 144(c) (until such time as those requirements cease
to apply under Rule 144(b)(1)) or the requirements of Rule 144(i)(2) (a “Company Non-Compliance Notice”).

 

(c) Until
the Notes are indefeasibly paid in full, the Company shall maintain on deposit in one or more accounts of a US incorporated bank
or a US branch of a non-US incorporated bank an amount of Free Cash in aggregate equal to $10,000,000, unless otherwise permitted
by the written consent of the Holder, which shall not be unreasonably withheld, conditioned or delayed if the use of the cash is
in the best interests of the Company, as determined by Holder.

 

    26

     

    

 

Section 7.Events
of Default.

 

(a) “Event
of Default” means, wherever used herein, any of the following events (whatever the reason for such event and whether
such event 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 body or Governmental Authority):

 

(i) any
default in the payment of the principal amount of any Note, whether on the Maturity Date or by acceleration or otherwise;

 

(ii) any
default in the payment of interest, liquidated damages and/or other amounts owing to a Holder on the Note, as and when the same
shall become due and payable, in each case, which such default continues for three (3) Trading Days;

 

(iii) the
Company shall fail to observe or perform any other covenant or agreement contained in this Note (other than a breach by the Company
of its obligations to deliver Note Shares to the Holder pursuant to the terms of this Note which breach is addressed in clause
(ix) below) which failure is not cured, if possible to cure, within the earlier to occur of (A) five (5) Trading Days after notice
of such failure sent by the Holder to the Company and (B) five (5) Trading Days after the Company has become aware or should have
become aware of such failure; provided, that any failure to observe or perform any provision of Section 6 shall be an immediate
Event of Default hereunder without any grace period;

 

(iv) a
default or event of default (subject to any grace or cure period provided in the applicable agreement, document or instrument)
or any material breach or failure to perform any material covenant shall occur under any of the Transaction Documents, which default,
breach or failure is not cured, if possible to cure, within 15 Trading Days following notice of failure sent by the Holder to the
Company;

 

(v) any
representation or warranty made in this Note or any other Transaction Documents, any written statement pursuant hereto or thereto
or any other report, financial statement or certificate made or delivered to the Holder or any other Holder pursuant to the Transaction
Documents shall be untrue or incorrect in any material respect as of the date when made or deemed made;

 

(vi) the
Company or any Significant Subsidiary shall be subject to a Bankruptcy Event;

 

(vii) the
Company or any Subsidiary (other than LiveXLive Tickets, Inc. and React Presents, LLC) shall default on any of its obligations
under any mortgage, credit agreement or other facility, indenture agreement, factoring agreement or other instrument under which
there may be issued, or by which there may be secured or evidenced, any Indebtedness for borrowed money or money due under any
long term leasing or factoring arrangement beyond any grace period provided with respect thereto that (a) involves an obligation
greater than $200,000, whether such Indebtedness now exists or shall hereafter be created, and (b) results in such Indebtedness
becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;

 

(viii) (a)
the Common Stock shall not be eligible for listing or quotation for trading on a Trading Market and shall not be eligible to resume
listing or quotation for trading thereon within five (5) Trading Days, (b) the shares of Common Stock are suspended from trading
or otherwise not listed or quoted for trading on a Trading Market for 15 Trading Days or more (which need not be consecutive) during
any 12 month period, or (c) the shares of Common Stock are suspended from trading or otherwise not listed or quoted for trading
on a Trading Market for five (5) consecutive Trading Days or more; provided, however, that for purposes of this subparagraph (viii),
any day on which there is a general suspension of trading on the Principal Market shall be disregarded;

 

    27

     

    

 

(ix) the
Company shall fail for any reason to deliver any Note Shares to Holder on the applicable Delivery Date therefor, subject to a cure
period of two (2) Trading Days in each instance;

 

(x) the
Company shall fail to timely file any SEC Report which results in the Company becoming ineligible to file an S-3;

 

(xi) the
electronic transfer by the Company of shares of Common Stock through DTC or another established clearing corporation is no longer
available or is subject to a “chill” that lasts for more than five (5) Trading Days;

 

(xii) a
judgment not covered by insurance in excess of $250,000 is entered against the Company and, within 60 days after entry thereof,
such judgment is not discharged or satisfied or execution thereof stayed pending appeal, or within 60 days after the expiration
of any such stay, such judgment is not discharged or satisfied;

 

(xiii) either
Robert S. Ellin or the Company shall default in their obligations set forth in that certain Side Letter dated as of even date herewith
among the Company, Harvest Small Cap Partners Master, Ltd., Holder and Robert S. Ellin;

 

(xiv) either
(a) Robert S. Ellin, (b) any Person set forth in Footnote 1 to the Beneficial Ownership Table to the Company’s Definitive
Proxy Statement dated July 29, 2020 of which Robert S. Ellin is the beneficial owner as of the date hereof (other than any distributions
or transfers by Trinad Capital Master Fund Ltd to satisfy its current fund redemption requirements for up to 350,000 shares in
aggregate), or (c) any Person who is a beneficial owner (as such term is defined in Section 13d-3 of the Exchange Act) of any other
Equity Interests of the Company of which Robert S. Ellin is the beneficial owner as of the date of this Note Disposes of any
Equity Interests of the Company, in each case without the express written consent of the Holder (email shall suffice);

 

(xv) if
any provision of the Security Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability
thereof shall be contested by any Debtor (as defined in the Security Agreement), or a proceeding shall be commenced by any Debtor,
or by any Governmental Authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof,
or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under the Security Agreement;
or

 

(xvi) the
Company or any “named executive officer” (within the meaning of Item 402 of Regulation S-K promulgated by the Commission)
(i) is indicted for, convicted of or pleads guilty or no contest to a felony, (ii) is found by a Governmental Authority to have
engaged in, or becomes subject to an order of a Governmental Authority based on, any violation of law or regulation that prohibits
fraudulent, manipulative or deceptive conduct, and/or (iii) becomes the subject of a Proceeding regarding the commission of a felony
or any violation of law or regulation that prohibits fraudulent, manipulative or deceptive conduct.

 

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(b) Remedies
Upon Event of Default. If any Event of Default occurs and is continuing, the outstanding principal amount of this Note, plus
accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall
become, at the direction of Holder, immediately due and payable in cash; provided, that such acceleration shall be automatic, without
any notice or other action of the Holder required, in respect of an Event of Default occurring pursuant to clause (vi), (xiii)
or (xiv) of Section 7(a)). In connection with such acceleration described herein, the Holder need not provide, and the Company
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 acceleration may be rescinded and annulled by Holder at any time prior to payment in full hereunder and the Holder shall
have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this Section
7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

 

Section 8.Miscellaneous.

 

(a) Notices.
Any and all notices or other communications or deliveries to be provided by the Holder hereunder, shall be in writing and delivered
personally, by email attachment, or sent by a nationally recognized overnight courier service, addressed to the Company, at the
address set forth above, or such email address, or address as the Company may specify for such purposes by notice to the Holder
delivered in accordance with this Section 8(a).  Any and all notices or other communications or deliveries to be provided
by the Company hereunder shall be in writing and delivered personally, by email attachment, or sent by a nationally recognized
overnight courier service addressed to the Holder at the email address or address of the Holder appearing on the books of the Company,
or if no such email attachment or address appears on the books of the Company, at the principal place of business of such Holder,
as set forth in the Purchase Agreement.  Any notice or other communication or deliveries hereunder shall be deemed given and
effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via email attachment to
the email address set forth on the signature pages attached hereto prior to 5:30 p.m. (local time in New York City, New York) (or
such later time expressly specified elsewhere in this Note) on any date, (ii) the next Trading Day after the date of transmission,
if such notice or communication is delivered via email attachment to the email address set forth on the signature pages attached
hereto on a day that is not a Trading Day or later than 5:30 p.m. (local time in New York City, New York) (or such later time expressly
specified elsewhere in this Note) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S.
nationally recognized overnight courier service or (iv) upon actual receipt by the party to whom such notice is required to be
given.

 

(b) Absolute
Obligation. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Note
at the time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company.

 

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(c) Lost
or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange
and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen or destroyed
Note, a new Note for the principal amount of this Note so mutilated, lost, stolen or destroyed, but only upon receipt of evidence
of such loss, theft or destruction of such Note, and of the ownership hereof, reasonably satisfactory to the Company.

 

(d) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by
and construed and enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of conflict
of laws thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions
contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors,
officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the County of New Castle
(the “Delaware Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the Delaware
Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed
herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees
not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such Delaware
Courts, or such Delaware Courts are improper or inconvenient venue for such proceeding. Each party hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Note and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. Each party
hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any
legal proceeding arising out of or relating to this Note or the transactions contemplated hereby. If any party shall commence an
action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or proceeding shall be reimbursed
by the other party for its attorneys’ fees and other costs and expenses incurred in the investigation, preparation and prosecution
of such action or proceeding.

 

(e) Amendments;
Waivers. Any waiver by the Company or the Holder of a breach of any provision of this Note shall not operate as or be construed
to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Company
or the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver
or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note on any
other occasion. Any waiver by the Company or the Holder must be in writing. Any provision of this Note may be waived by the Holder,
which waiver shall be binding on Holder and its successors and assigns. Any provision of this Note may be amended by a written
instrument executed by the Company and the Holder, which amendment shall be binding on the Holder and its successors and assigns.

 

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(f) Severability.
If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain in effect, and if any
provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury,
the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under
applicable law. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would
prohibit or forgive the Company from paying all or any portion of the principal of or interest on this Note as contemplated herein,
wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Note, and
the Company (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants
that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Holder, but
will suffer and permit the execution of every such as though no such law has been enacted.

 

(g) Remedies,
Characterizations, Other Obligations, Breaches and Injunctive Relief.  The remedies provided in this Note shall be cumulative
and in addition to all other remedies available under this Note and any of the other Transaction Documents at law or in equity
(including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder’s
right to pursue actual and consequential damages for any failure by the Company to comply with the terms of this Note.  The
Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided
herein. Amounts set forth or provided for herein with respect to payments, conversion and the like (and the computation thereof)
shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation
of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause
irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that,
in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all other available remedies,
to an injunction restraining any such breach or any such threatened breach, without the necessity of showing economic loss and
without any bond or other security being required. The Company shall provide all information and documentation to the Holder that
is reasonably requested by the Holder to enable the Holder to confirm the Company’s compliance with the terms and conditions
of this Note.

 

(h) Next
Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
or obligation shall be made on the next succeeding Business Day.

 

(i) Headings.
The headings contained herein are for convenience only, do not constitute a part of this Note and shall not be deemed to limit
or affect any of the provisions hereof.

 

(j) Secured
Obligation. The obligations of the Company under this Note are secured by the Collateral pledged by the Company pursuant to
the Security Agreement, dated as of the date hereof, between the Debtors and the Holder. For the avoidance of doubt, and notwithstanding
anything contained herein to the contrary, subject to Permitted Liens, the Holder shall have the first lien over all Collateral,
which will rank higher than any other creditor of the Company or its Subsidiaries, to the extent permitted by law.

 

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(k) Limitation
of Liability. Neither Holder nor any Affiliate, officer, director, employee, attorney, or agent of Holder shall have any liability
with respect to, and the Company hereby waives, releases, and agrees not to sue any of them upon, any claim for any special, indirect,
incidental, or consequential damages suffered or incurred by the Company in connection with, arising out of, or in any way related
to, this Note or any of the other Transaction Documents, or any of the transactions contemplated by this Note or any of the other
Transaction Documents. The Company hereby waives, releases, and agrees not to sue Holder or any of Holder’s Affiliates, officers,
directors, employees, attorneys, or agents for punitive damages in respect of any claim in connection with, arising out of, or
in any way related to, this Note or any of the other Transaction Documents, or any of the transactions contemplated by this Note
or any of the other Transaction Documents. Notwithstanding the foregoing, if Holder is found by a court of competent jurisdiction,
pursuant to a final judgment not subject to further appeal, to have engaged in any material violation of the Transaction Documents,
any material violation of state or federal securities laws or any other conduct which constitutes fraud, gross negligence willful
misconduct or malfeasance (“Bad Boy Conduct”), then nothing in this provision shall be interpreted as waiving
any right of the Company to any action based upon any such Bad Boy Conduct.

 

(l) Withholding
Taxes. Any and all payments by or on account of any obligation of the Company under this Note and any other Transaction Documents
shall be made without deduction or withholding for any taxes, except as required by applicable law. If any applicable law (as determined
in the good faith discretion of the Company) requires the deduction or withholding of any tax from any such payment by the Company,
then the Company shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld
to the relevant Governmental Authority in accordance with applicable law and the sum payable by the Company to the Holder shall
be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings
applicable to additional sums payable under this Section 8(l)) the Holder receives an amount equal to the sum it would have
received had no such deduction or withholding been made; provided, however, that no increased or additional payment shall be required
or made under this section (i) with respect to U.S. federal withholding taxes imposed on amounts payable to or for the account
of the Holder pursuant to a law in effect on the date that the Holder acquired an interest in this Note (withholding tax imposed
as a result of future administrative or judicial interpretation of current law), or (ii) with respect to taxes imposed on or measured
by net income (including branch profits taxes or franchise taxes) of the Holder. With respect to a Holder as of the date hereof,
the Company does not intend to deduct U.S. federal withholding taxes from any payments under this Note and any other Transaction
Document under current law. Prior to deducting any withholding tax, the Company shall deliver to the Holder a written notice of
its intention to make deduction or withholding for any taxes. In the event that the Company provides such notice, the Holder may
elect to receive interest in cash in order to avoid such withholding tax; provided, however, that such an election shall not be
available to any transferee or assignee of a Holder (that was a Holder as of the date hereof) and no Holder may transfer or assign
an interest in the Note to any other person if any payments made to the transferee or assignee by the Company with respect to the
Note or any other Transaction Document would be subject to withholding taxes.

 

(m) OID.
THE FOLLOWING INFORMATION IS SUPPLIED SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES. THIS NOTE WAS ISSUED WITH “ORIGINAL ISSUE
DISCOUNT” (“OID”) WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
AND THIS LEGEND IS REQUIRED BY SECTION 1275(c) OF THE CODE. HOLDER MAY OBTAIN INFORMATION REGARDING THE AMOUNT OF ANY OID, THE
ISSUE PRICE, THE ISSUE DATE, AND THE YIELD TO MATURITY RELATING TO THE NOTE BY CONTACTING THE ISSUER AT LIVEXLIVE MEDIA, INC.,
9200 SUNSET BOULEVARD, SUITE 1201, WEST HOLLYWOOD, CA 90069.

 

*********************

 

(Signature Pages Follow)

 

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IN WITNESS WHEREOF, the
parties below have caused this Note to be duly executed by a duly authorized officer as of the date first above indicated.

 

	 	LIVEXLIVE MEDIA, INC.

 

	 	By: 	/s/ Robert S. Ellin
	 	Name: 	Robert S. Ellin
	 	Title:	CEO and Chairman

 

	 	E-mail Address for delivery of Notices: 

rob@livexlive.com and tenia@livexlive.com 

 

	 	HARVEST SMALL CAP PARTNERS, L.P.

 

	 	By: 	/s/ Jeff Osher
	 	Name: 	Jeff Osher
	 	Title:	Managing Member

 

	 	E-mail Address for delivery of Notices: 
	 	jeff@nostreetcapital.com

 

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Annex
A

 

NOTICE OF
CONVERSION

 

The undersigned hereby
elects to convert principal and interest under the 8.5% Secured Note due September 15, 2022 (the “Note”) of
LiveXLive Media, Inc., a Delaware corporation (the “Company”), in accordance with Section 4(b) of the
Note.

 

By the delivery of
this Notice of Conversion the undersigned represents and warrants to the Company that its ownership of the shares of Common Stock
does not exceed the amounts specified under Section 4(i) of this Note, as determined in accordance with Section 13(d) of
the Exchange Act.

 

Conversion calculations:

 

	 	Conversion Date:
	 	 
	 	Conversion Price:
	 	 
	 	Principal Amount of Note to be converted:
	 	 
	 	Accrued and unpaid interest thereon:
	 	 
	 	Number of shares to be issued:
	 	 
	 	Signature:
	 	 
	 	Name:
	 	 
	 	Address for Delivery of Holding Statements:
	 	 
	 	Or
	 	 
	 	DWAC Instructions:
	 	 
	 	Broker No: __________________
	 	Account No: ________________

 

 

34

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