Document:

DEMAND
NOTE

 

	U.S.
    $500,000.00	Date
    of Note: March 27, 2020

 

1. Promise
to Pay. FOR VALUE RECEIVED, the undersigned, H-CYTE, INC., a Nevada corporation (“Maker”), hereby promises
to pay to the order of FWHC BRIDGE, LLC, a Delaware limited liability company (together with its successors and assigns, “Holder”),
at the principal office of Holder or such other place as Holder from time to time may designate in writing, the principal sum
of FIVE HUNDRED THOUSAND and 00/100ths Dollars ($500,000.00) or such other amount advanced by Holder to Maker (the “Principal”).

 

2. Interest;
Payment.

 

(a) Subject
to Section 2(c) below, the outstanding Principal shall bear simple interest at the rate of eight percent (8%) per annum,
computed on the basis of the actual number of days elapsed and a year of 365 or 366 days, as the case may be. Payments pursuant
to this Demand Note (this “Note”) will be applied first to accrued interest and then to principal.

 

(b) Principal
and accrued interest on this Note shall be payable at such times and in such amounts as demanded by Holder, within five (5) days
of any such demand by Holder. Simultaneously with any payment to Holder of less than the entire then-outstanding Principal, Maker
shall issue to Holder a new note in substantially the same form as this Note in the amount of the remaining outstanding Principal,
in exchange for return of this Note.

 

(c) If
any amounts payable under this Note are not paid within ten (10) days after they are due, interest shall accrue on the Principal
in an amount equal to eighteen percent (18%) per annum (the “Default Rate”).

 

(d) Maker
may pay this Note in whole or in part without penalty or premium at any time prior to a demand for such payment by Holder.

 

3. Term.
This Note shall remain in force and effect until all amounts owed under this Note have been paid.

 

4. No
Waiver. Holder shall not, by any act or omission or commission, be deemed to waive any of its rights, remedies or powers
hereunder or otherwise unless such waiver is in writing and signed by Holder, and then only to the extent specifically set forth
in such writing. A waiver of one event shall not be construed as continuing or as a bar to or waiver of such right, remedy or
power upon a subsequent event.

 

5. Events
of Default and Remedies.

 

(a) The
occurrence of any of the following events will be deemed to be an “Event of Default”: (i) the nonpayment of
any principal, interest or other amounts owing under this Note when due; (ii) the failure of Maker to observe or perform any covenant
or other agreement, under or contained in this Note; (iii) the filing by or against Maker of any proceeding in bankruptcy, receivership,
insolvency, reorganization, liquidation, conservatorship or similar proceeding (and, in the case of any such proceeding instituted
against Maker, such proceeding is not dismissed or stayed within thirty (30) days of the commencement thereof); (iv) any assignment
by Maker for the benefit of creditors, or any levy, garnishment, attachment or similar proceeding is instituted against any property
of Maker; (v) a default with respect to any other indebtedness of Maker for borrowed money (taking into account any applicable
grace and cure periods), if the effect of such default is to cause or permit the acceleration of such debt; (vi) the entry of
a final judgment against Maker and the failure of Maker to discharge the judgment within thirty (30) days of the entry thereof;
or (vii) Maker ceases doing business as a going concern.

 

    	 	 	 

    	 

    

 

(b) Upon
the occurrence of an Event of Default: (i) if an Event of Default specified in clause (a)(iii) or (a)(iv) above shall occur, the
outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder shall be immediately
due and payable without demand or notice of any kind; (ii) if any other Event of Default shall occur, the outstanding principal
balance and accrued interest hereunder together with any additional amounts payable hereunder, at Holder’s option and without
demand or notice of any kind, may be accelerated and become immediately due and payable; (iii) at Holder’s option, this
Note will bear interest at the Default Rate from the date of the occurrence of the Event of Default; and (iv) Holder may exercise
from time to time any rights and remedies under applicable law (including initiating legal action for collection of this Note).

 

6. Indemnity.
Maker agrees to indemnify Holder and each of its managers, officers and members (the “Indemnified Parties”),
and to defend and hold each Indemnified Party harmless from and against any and all claims, damages, losses, liabilities and expenses
(including reasonable attorney’s costs and fees with whom any Indemnified Party may consult and all expenses of litigation
and preparation therefor) which any Indemnified Party may incur or which may be asserted against any Indemnified Party by any
person, entity or governmental authority (including any person or entity claiming derivatively on behalf of the Maker), in connection
with or arising out of or relating to the matters referred to in this Note or the use of funds advanced hereunder, whether (a)
arising from or incurred in connection with any breach of a representation, warranty or covenant by Maker, or (b) arising out
of or resulting from any suit, action, claim, proceeding or governmental investigation, pending or threatened, whether based on
statute, regulation or order, or tort, or contract or otherwise, before any court or governmental authority; provided, however,
that the foregoing indemnity obligation shall not apply to any claims, damages, losses, liabilities and expenses solely attributable
to an Indemnified Party’s gross negligence or willful misconduct. The indemnity obligation contained in this Section
6 shall survive the termination of this Note, payment of the principal hereunder and the assignment of any rights hereunder.

 

7. Representations
and Warranties. Maker hereby represents and warrants to Holder as follows:

 

(a) Maker
is duly incorporated, validly existing and in good standing under the laws of the jurisdiction of its incorporation, has all requisite
power and authority to carry on its business as now conducted, and is duly qualified to do business, and is in good standing,
in each jurisdiction where such qualification is required.

 

    	 	2	 

    	 

    

 

(b) The
execution, delivery and performance by Maker of this Note have been duly authorized by all necessary action. This Note has been
duly executed and delivered and constitutes a valid and binding obligation of Maker, enforceable against Maker in accordance with
its terms, except as may be limited by applicable bankruptcy or similar laws affecting the enforcement of creditors’ rights
generally and by general principles of equity.

 

8. Affirmative
Covenants. From the date hereof and until payment and performance in full of the Note, Maker hereby covenants and agrees
with Holder that:

 

(a) Upon
request, Maker shall deliver to Holder any financial statements, reports, certifications or other information that Holder may
reasonably request from time to time. Holder shall have the right to inspect and audit the books and records of Maker upon reasonable
advance notice.

 

(b) Maker
shall comply in all material respects with all applicable laws comply in all material respects with all laws, rules, regulations
and requirements applicable to its business and properties.

 

(c) Maker
shall prepare all tax returns required by law to be filed, and such returns shall be accurate in all material respects. Maker
shall promptly pay and discharge all material taxes, assessments and governmental charges or levies imposed by applicable law
upon it or upon its assets.

 

(d) Maker
shall maintain insurance against all such liabilities, hazards and risks, and in at least such amounts as are usually carried
by companies engaged in the same or a similar business, in any case in an amount that is reasonably satisfactory to Holder. All
such insurance shall be effected under valid and enforceable policies issued by insurers reasonably acceptable to Holder. Upon
request, Holder shall be provided evidence of the payment of the premium for all such insurance.

 

(e) Maker
shall provide prompt written notice to Holder of the occurrence of any of the following (together with a description of the action
which Maker proposes to take with respect thereto): (i) any Event of Default or any event, act or condition which, with the passage
of time or the giving of notice, or both, would constitute an Event of Default; (ii) any litigation filed by or against Maker;
or (iii) any event which might result in a material adverse change in the business, assets, operations, condition (financial or
otherwise) or results of operation of Maker.

 

9. Negative
Covenants. From the date hereof and until payment and performance in full of the Note, Maker hereby covenants and agrees
with Holder that:

 

(a) Maker
shall not liquidate or dissolve, merge or consolidate with or into any other entity; sell, lease, transfer or otherwise dispose
of all or a substantial part of its property, assets, operations or business, whether now owned or hereafter acquired; or permit
a change in the ownership of its equity interests.

 

    	 	3	 

    	 

    

 

(b) Maker
shall not create any subsidiaries or hold any securities interests in any corporation, partnership, limited liability company,
proprietorship or other business organization.

 

(c) Maker
shall not create, incur, assume or permit to exist any indebtedness except for (i) the Note, (ii) trade payables incurred in the
ordinary course of business, (iii) indebtedness existing as of the date of this Note and (iv) indebtedness consented to by Holder,
and any refinancing of such indebtedness in amounts not in excess of the amounts outstanding when refinanced and on term and conditions
reasonably acceptable to Holder.

 

(d) Maker
shall not directly or indirectly enter into, or permit to exist, any material transaction with any affiliate of Maker, except
for transactions that are in the ordinary course of the business of Maker and are on fair and reasonable terms that are no less
favorable to Maker than would be obtained in an arm’s-length transaction with a non-affiliate.

 

(e) Maker
shall not declare or pay any dividends or distributions to its equity holders either in cash or in any other property, nor redeem,
retire, repurchase or otherwise acquire any equity interests in Maker, other than dividends or distributions in an amount needed
for the payment of taxes on Maker’s taxable income attributable to such equity holder.

 

10. Costs
and Attorneys’ Fees. Maker shall pay any costs incurred by Holder in enforcing this Note, including, without limitation,
all reasonable attorneys’ fees.

 

11. Limitation
on Interest Charges. Holder and Maker intend to comply strictly with applicable law regulating the maximum allowable rate
or amount of interest that Holder may charge and collect pursuant to this Note. Accordingly, and notwithstanding anything in this
Note to the contrary, the maximum, aggregate amount of interest and other charges constituting interest under applicable law that
are payable, chargeable, or receivable under this Note shall not exceed the maximum amount of interest now allowed by applicable
law or any greater amount of interest allowed because of a future amendment to existing law. Maker is not liable for any interest
in excess of the maximum lawful amount, and any excess interest charged or collected by Holder will constitute an inadvertent
mistake and, if charged but not paid, will be canceled automatically, or, if paid, will be either refunded to Maker or credited
against the outstanding principal balance of this Note, at the election of Maker.

 

12. Miscellaneous.

 

(a) Maker
hereby waives presentment for payment, demand, protest, notice of protest, and notice of dishonor, and expressly agrees to remain
and continue bound for the payment of the principal and interest due hereunder notwithstanding any extension of the time for the
payment of said principal or interest, or any change in the amount agreed to be paid under or by virtue of the obligation to pay
provided for in this Note, or any change or changes by way of release or surrender or substitution of any real property or other
collateral held as security for this Note, and waives all and every kind of notice of such extension or extensions change or changes,
and agree that the same may be made without the joinder of the Maker or any other maker, principal, surety, guarantor or endorser,
if any.

 

    	 	4	 

    	 

    

 

(b) This
Note shall be governed by Florida law, without regard to its conflict of laws provisions.

 

(c) Maker
shall be liable for Florida documentary stamp taxes and any penalties and interest associated with that tax payable with respect
to this Note, and any subsequent renewals, modifications or amendments of this Note.

 

(d) If
any provision of this Note is held to be invalid, illegal or unenforceable by any court, that provision shall be deleted from
this Note and the balance of this Note shall be interpreted as if the deleted provision never existed.

 

[Signature
Page Follows]

 

    	 	5	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned has executed this Note as of the date first written above.

 

	 	H-CYTE,
        INC.,

        a
        Nevada corporation

         

	 	By:	 /s/
    William E. Horne 
	 	Name:	William
    E. Horne
	 	Title:	Chief
    Executive Officer

 

Signature
Page to Demand Note Payable to FWHC Bridge, LLCExhibit

EXHIBIT 10.1

Amendment No. 1 
to 
Purchase and Sale Agreement
This Amendment No. 1 (this “Amendment”) to the Purchase and Sale Agreement, dated as of August 2, 2018 (the “Agreement”), is entered into as of March 27, 2020 by and between BP Products North America Inc., a Maryland corporation (“BP” or “Buyer”), and Centennial Resource Production, LLC, a Delaware limited liability company (“Centennial” or “Producer”). BP and Centennial are each individually referred to as “Party” and jointly as “Parties.” 
RECITALS
WHEREAS, the Parties entered into the Agreement on August 2, 2018; 
WHEREAS, capitalized terms used but not defined in this Amendment shall have the meanings set forth in the Agreement; and
WHEREAS, the Parties wish to amend the Agreement to (i) adjust the commencement date and term of Period 2 and (ii) replace Exhibit A1 to the Agreement with Exhibit A1 attached to this Amendment, which lists the wells for purposes of Period 1.
NOW, THEREFORE, for and in consideration of the mutual agreements herein contained, the benefits to be derived by BP and Centennial, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 
AGREEMENT
		
	1.
	The last sentence of the first paragraph of Section 1(b)(ii) of the Agreement is hereby deleted and replaced with the following:

“Period 2” will commence on January 1, 2021 and continue for four (4) years and five (5) months from such commencement date (i.e. ending on May 31, 2025).”
		
	2.
	Exhibit A1 to the Agreement is hereby deleted and replaced with Exhibit A1 attached to this Amendment. 

		
	3.
	Except as expressly modified hereby, the Agreement and all documents, instruments, and agreements related thereto are hereby ratified and confirmed in all respects and shall continue in full force and effect. The execution, delivery, and effectiveness of this Amendment shall not operate as a waiver of any right, power, or remedy of either Party under the Agreement, nor constitute a waiver of any provision of the Agreement.  The Agreement shall, together with this Amendment, be read and construed as a single agreement. All references in the Agreement and any related documents, instruments, and agreements shall hereafter refer to the Agreement as modified hereby.

		
	4.
	The Parties acknowledge that this Amendment shall be governed by the terms of Sections 5, 6 and 9 of the Agreement, and such provisions shall be incorporated herein, mutatis mutandis.

		
	5.
	This Amendment may be executed in one or more counterparts (including by means of telecopied signature page or as a PDF or similar attachment to an electronic communication), all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the Parties hereto and delivered to the other Party.

[Signature page follows]

IN WITNESS WHEREOF, the Parties have executed this Amendment No. 1 as of the date first written above.

	
					
	BP Products North America Inc. 
	 
	Centennial Resource Development, Inc. 

	 
	 
	 
	 
	 

	By:
	/s/ Dan Wise
	 
	By:
	/s/ Sean R. Smith

	 
	Name: Dan Wise
	 
	 
	Name: Sean R. Smith

	 
	Title: GCH BP IST GCRUDE
	 
	 
	Title: Vice President and Chief Operating Officer

[Signature Page to Amendment No. 1 to Purchase and Sale Agreement]

Exhibit A1
(List of wells which will comprise the group making up Period 1 Volume) 
	
	
	Balmorhea State 1H

	Asadero 3 State Com 502H

	Asadero 3 State Com 503H

	Chorizo 12 State Com 601H

	Tour BUS 23 State #101H 

	Tour BUS 23 State #301H

	Tour BUS 23 State #502H

	Tour BUS 23 State #503H

	Tour BUS 23 State #504H

	Tour BUS 23 State #505H

	Tour BUS 23 State #506H

	Tour BUS 23 State #601H

	Vitalizer State #1H

	Vitalizer State #502H

	Winnebago 30 State Com 501H (ip 3/6/20)

	Winnebago 30 State Com 502H (ip 3/6/20)

	Winnebago 30 State Com 503H (ip 3/6/20)

	Winnebago 30 State Com 504H (ip 3/6/20)

	Balmorhea State A 2H

	Balmorhea State G 8H

	Balmorhea State H 9H

	Balmorhea State I 10H

	Balmorhea State B 3H

	Balmorhea State C 4H 

	Balmorhea State E 6H

	Balmorhea State F 7H

	Balmorhea State L T45H

	Barracuda B U47H

	Barracuda A U39H 

	Barracuda C U31H 

	Barracuda D T35H 

	Bentz 2H

	Big Fundamental 4-52 #1H

	Birdman A U03H 

	Blazing Saddles State A U49H

	Blue Crest 2H(Share lact unit)

	Blue Crest 4H (Share lact unit)

	Blue Crest 3H

	C.H. Knight 1H (Share lact unit)

	C.H. Knight 2H (Share lact unit)

	C.H. Knight 3H (Share lact unit)

	C.H. Knight 6H

	C.H. Knight U13H

	C.H. Knight State A 7H

	Casino Royale St 1H

	Doc Gardner 1H

	Doc Gardner 2H

	Doc Gardner 3H

	Doc Gardner A U23H

	Doc Hudson T 04H

	Doc Hudson U 03H

	Doc Hudson U 08H

	
	
	 

(1)  Producer shall update Exhibit A1 as necessary from time to time to maintain the Period 1 Volume and provide a copy of the updated Exhibit A1 to BP. The wells listed on this Exhibit A1 are listed for the purposes of nominating, scheduling, and tracking volumes received by BP into the Oryx Pipeline during Period 1. The Parties acknowledge and agree that this Agreement does not involve a dedication of, or other burden affecting, the wells listed above.

A1-1

	
	
	Doc Hudson U 20H 

	Doc Martens Unit U03H

	Doc Martens Unit U09H

	Doc Martens Unit U16H

	Doc Watson T 01H 

	Doc Watson U 06H 

	Eady A 4-59-60 1H

	Eady B 4-59-60 2H

	Eady C 4-59-60 U16H

	Eady D 4-59-60 U09H

	Ebay Unit A 1H (est ip 3/25/20)

	Ebay Unit B 2H (est ip 3/25/20)

	Folk Rolwing A4-34-33 #1H

	Full Nelson 2H (Hoefs Ranch 1H)

	Gibson L 3RH (aka Roadrunner 3H)

	Gibson L U13H

	Gibson L U21H

	Goldfinger 1H

	Highlander U49H

	Highlander A U04H (est ip 3/13/20)

	Highlander B U12H (est ip 3/13/20)

	Highlander C U19H (est ip 3/13/20)

	Highlander D U27H

	Highlander E U34H

	Highlander F U42H

	Hoefs Trust 1H

	Iceman 4-24 23 #1H

	Iron Eagle Unit A U49H

	Iron Eagle Unit A U30H

	Iron Eagle Unit B U21H

	Iron Eagle Unit B U05H

	Iron Eagle Unit B U13H

	Iron Eagle Unit B C06H 

	Iron Eagle Unit B C16H 

	Jaguar 1H

	Jaguar 2H

	Jaguar 3H

	Little Fundamental 4-52 #2H

	Lucy Prewit U 35H 

	Lucy Prewit U 42H

	Lucy Prewit U 49H 

	Matador 6-33 3H

	Moonraker 1H

	Nicholas E U04H 

	Nicholas F U13H 

	Nicholas G U21H 

	Ninja 4-50-49 1H

	Ninja 4-50-49 2H

	Ninja 4-50-49 3H

	Ninja 4-50-49 4H

	Ninja 4-50-49 5H

	Parker 5-43 C9-12 1H

	Parker A Unit 2H

	Parker B 3H 

	Parker D U04H

	Parker E U37H

	Parker F U46H

	Pistol C 18-24 1H

	Pop 4-59-60 #1H

	Pop  D 4-59-60 U31H

	Pop  E 4-59 60 B32H

	Pop B 4-59 60 2H

	Pop C 4-59 60 3H

A1-2

	
	
	Powder Keg A U5H

	Powder Keg C U49H

	Predator East U41H

	Predator East U48H

	Predator East U33H

	Predator West U25H

	Predator West U 04H 

	Predator West U 18H 

	Prewitt U31H

	Prewitt U40H

	Prewitt U49H

	Prewitt T36H

	Prewitt T45H

	Red Crest 2H

	Red Crest 3H

	Red Crest 4H

	Sieber Trust 1H (East CTB)

	Sieber Trust 3H (West CTB)

	Sieber Trust4H (East CTB)

	Sieber Trust B13H

	Sieber Trust U13H

	Sieber Trust B05H (West CTB)

	Sieber Trust B21H (East CTB)

	Sieber Trust C09H (West CTB)

	Sieber Trust C17H (East CTB)

	Skyfall 1H

	State Rifleman C18 BT30H 

	Stephens B U06H (est ip 4/14/20)

	Stephens C T12H (est ip 4/14/20)

	Sundown 1H 

	Sunny D State Unit U05H

	Sunny D State Unit U14H

	Sunny D State Unit U23H

	Tin Star G U17H(east ip 3/18/20)

	Tin Star H T10H (est ip 3/18/20)

	Tin Star I U30H (est ip 3/18/20)

	War Eagle A Unit U30H

	War Eagle A Unit U38H

	War Eagle B Unit U03H 

	War Eagle Unit B U12H 

	Wicked Ram L49H

	Asadero 3 State Com 502H

	Asadero 3 State Com 503H

	Chorizo 12 State Com 601H

	Tour BUS 23 State #101H 

	Tour BUS 23 State #301H

	Tour BUS 23 State #502H

	Tour BUS 23 State #503H

	Tour BUS 23 State #504H

	Tour BUS 23 State #505H

	Tour BUS 23 State #506H

	Tour BUS 23 State #601H

	Vitalizer State #1H

	Vitalizer State #502H

	Winnebago 30 State Com 501H 

	Winnebago 30 State Com 502H )

	Winnebago 30 State Com 503H 

	Winnebago 30 State Com 504H )

A1-3

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