Document:

Exhibit 10.17

 

FORM OF

REVOLVING
PROMISSORY NOTE

 

	U.S.
    $[●]	September
    1, 2022

 

FOR
VALUE RECEIVED, Adamas One Corp., a Nevada corporation (“Borrower”), hereby promises to pay to the order of [●]
(“Lender”), at such location and in such manner as Lender shall designate, the principal amount of $[●]
or so much thereof as Lender may advance to or for the benefit of Borrower, in accordance with the following terms and conditions:

 

1.       Interest
Rate. The principal balance outstanding has been funded on an interest-free basis and no interest shall be charged for the amounts
advanced pursuant to this Note.

 

2.       Revolving
Advances. The principal balance of this Note represents a revolving credit all or any part of which may be advanced to Borrower,
repaid by Borrower, and re-advanced to Borrower from time to time, subject to any conditions imposed by Lender in its sole and absolute
discretion, and provided that the principal balance outstanding at any one time shall not exceed the face amount hereof.

 

3.       Payments.
Notwithstanding anything in this Note to the contrary, Borrower shall repay all amounts outstanding under this Note no later than September
30, 2023.

 

4.       Form
of Payments. Payments by Borrower shall be made in immediately available funds.

 

5.       Application
of Payments. Payments received by Lender with respect to the indebtedness evidenced hereby shall be applied in such order and manner
as Lender in its sole and absolute discretion may elect.

 

6.       Prepayments.
Payments of principal hereof may be made at any time, or from time to time, in whole or in part, without penalty, provided that all previously
matured charges accrued to the date of prepayment are also paid in full.

 

7.       Events
of Default; Acceleration. The occurrence of any one or more of the following events shall constitute an “Event of Default”
hereunder, and upon such Event of Default, the entire principal balance outstanding hereunder, together with all accrued interest and
other amounts payable hereunder, at the election of Lender, shall become immediately due and payable, without any notice to Borrower:

 

(a)       Nonpayment
of principal, interest or other amounts when the same shall become due and payable hereunder; or

 

(b)       The
failure of Borrower to comply with any provision of this Note.

 

8.       Event
of Default; Bankruptcy. It shall be an “Event of Default” under this Note if Borrower becomes the subject of any bankruptcy
or other voluntary or involuntary proceeding, in or out of court, for the adjustment of debtor-creditor relationships. If that happens,
all sums of principal and interest under this Note shall automatically become immediately due and payable without notice of default,
presentment or demand for payment, protest or notice of nonpayment or dishonor, or other notices or demands of any kind or character.

     

     

    

BORROWER
HEREBY AFFIRMS, ACKNOWLEDGES, AND RATIFIES THAT ALL AMOUNTS DUE UNDER THIS NOTE ARE PAYABLE UPON DEMAND, WHICH DEMAND MAY BE MADE AT
ANY TIME BY LENDER IN ITS SOLE AND ABSOLUTE DISCRETION IRRESPECTIVE OF WHETHER AN EVENT OF DEFAULT HAS OCCURRED.

 

9.       Additional
Sums. Borrower understands and believes that this lending transaction complies with the usury laws of the State of Nevada; however,
if any charges in connection with this lending transaction are ever determined to exceed the maximum amount permitted by law, then Borrower
agrees that: (a) the amount of charges payable pursuant to this lending transaction shall be reduced to the maximum amount permitted
by law; and (b) any excess amount previously collected from Borrower in connection with this lending transaction that exceeded the maximum
amount permitted by law, will be credited against the principal balance then outstanding hereunder. If the outstanding principal balance
hereunder has been paid in full, the excess amount paid will be refunded to Borrower.

 

10.       No
Waiver by Lender. No delay or failure of Lender in exercising any right hereunder shall affect such right, nor shall any single or
partial exercise of any right preclude further exercise thereof.

 

11.       Governing
Law. This Note shall be construed in accordance with and governed by the laws of the State of Nevada, without regard to the choice
of law rules of the State of Nevada.

 

12.       Time
of Essence. Time is of the essence of this Note and each and every provision hereof.

 

13.       Amendments.
No amendment, modification, change, waiver, release, or discharge hereof and hereunder shall be effective unless evidenced by an instrument
in writing and signed by the party against whom enforcement is sought.

 

14.       Severability.
If any provision hereof is invalid or unenforceable, the remaining provisions hereof shall remain in full force and effect and shall
be liberally construed in favor of Lender in order to effectuate the other provisions hereof.

 

15.       Binding
Nature. The provisions of this Note shall be binding upon Borrower and the heirs, personal representatives, successors, and assigns
of Borrower, and shall inure to the benefit of Lender and any subsequent holder of all or any portion of this Note, and their respective
successors and assigns. Lender may from time to time transfer all or any part of its interest in this Note and any loan documents without
notice to Borrower.

 

16.       Notice.
Any notice or other communication with respect to this Note shall (a) be in writing; (b) be effective on the day of hand-delivery thereof
to the party to whom directed, one day following the day of deposit thereof with delivery charges prepaid, with a national overnight
delivery service, or two days following the day of deposit thereof with postage prepaid, with the United States Postal Service, by regular
first class, certified, or registered mail; (c) if directed to Lender, be addressed to Lender at such address as Lender shall have specified
to; and (d) if directed to Borrower, be addressed to Borrower at the address for Borrower set forth below Borrower’s name, or to
such other address as Borrower shall have specified by like notice.

 

17.       Amendment
and Restatement. This Note amends, restates, and supersedes in its entirety, and is given as a replacement for, and not in satisfaction
of or as a novation with respect to, the Promissory Note, dated [●], in the stated principal
amount of $[●], executed by Borrower in favor of Lender and any and all other non-written arrangements
or understandings between Borrower and Lender regarding sums borrowed from Lender by Borrower.

 

[signature
page follows]

     

     

    

IN
WITNESS WHEREOF, Borrower has executed this Note as
of the date first set forth above.

	 	BORROWER	 
	 	ADAMAS ONE CORP.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

Signature
Page to Revolving Promissory NoteExhibit 10.18

 

 

 

 

 

 

 

ADAMAS ONE CORP. 

 

 

 

 

FORM OF

SENIOR SECURED CONVERTIBLE NOTE 

PURCHASE AGREEMENT

 

 

 

 

 

______ __, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    
Adamas Convertible Note Purchase Agreement

     

    

ADAMAS ONE CORP. 

 

SENIOR SECURED CONVERTIBLE NOTE 

PURCHASE AGREEMENT

 

This Senior Secured Convertible
Note Purchase Agreement (the “Agreement”) is made as of the ___ day of ______, 2021 by and between Adamas One Corp.,
a Nevada corporation (the “Company”) and the Subscriber listed on Exhibit A attached to this Agreement (the
“Subscriber”).

RECITALS

 

WHEREAS, the Company and
the Subscriber are executing and delivering this Agreement in reliance upon an exemption from securities registration afforded by the
provisions of Section 4(a)(2) and/or Regulation D (“Regulation D”) as promulgated by the United States Securities and Exchange
Commission under the Securities Act of 1933, as amended (the “Securities Act”);

WHEREAS, the Company is
seeking funding up to the maximum aggregate amount of up to Three Million Dollars and 00/100 ($3,000,000) (the “Offering Amount”),
in a private placement offering as more particularly described below (the “Offering”); provided that the Company may,
in its sole discretion increase or decrease the Offering Amount without notice to the Subscriber;

WHEREAS, pursuant to the
Offering, the Company shall, against payment therefor, issue and sell to the Subscriber, and the Subscriber shall purchase, as provided
herein, the Company’s eight percent (8%) interest bearing senior secured convertible promissory note maturing ____ (_) months after
the date of issue (the “Maturity Date”), substantially in the form of Senior Secured Convertible Promissory Note attached
hereto as Exhibit B (the “Note”) and shall receive the Incentive Shares and Warrants (both as defined below)
(the Note, Incentive Shares and Warrant are collectively referred to herein as the “Securities”) at the closing of
such purchase;

NOW, THEREFORE, in consideration
of the mutual covenants and other agreements contained in this Agreement, the Company and the Subscriber hereby agree as follows:

AGREEMENT

 

1.       Purchase
and Sale of Notes.

(a)       Sale
and Issuance of the Note. The Subscriber, intending to be legally bound, hereby irrevocably subscribes for and agrees to purchase,
at the Closing (defined below), the Note at 100% of the principal amount set forth on the signature page hereto (the “Purchase
Price”). This subscription is submitted to the Company in accordance with and subject to the terms and conditions described
in this Agreement. The Subscriber’s obligations hereunder are several and not joint obligations and no Subscriber shall have any
liability to any person or entity (“Person”) for the performance or non-performance of any obligation by any other
Subscriber hereunder.

(b)       Subscription
Proceeds. All subscription proceeds received pursuant to this Agreement shall be placed into a segregated trust account established
by the Company in a financial institution having assets of not less than $1 billion whose accounts are insured by the Federal Deposit
Insurance Corporation for the benefit of the Subscribers, and upon acceptance of the subscription and the Initial Closing, such subscription
proceeds shall be deposited directly into the Company’s operating account. Following payment by the Company of its costs and expenses,
including organization and Offering expenses and the fees and expenses of Alexander Capital, L.P., the placement agent for this Offering
(“Placement Agent”), such funds will be used by the Company for general working capital purposes.

    1
Adamas Convertible Note Purchase Agreement

     

    

 (c)       Payment.
Payment of the Purchase Price shall be due and payable upon execution and delivery of this Agreement by the Subscriber to the Company,
unless otherwise agreed to by the Company. The Subscriber shall be required to deliver to the Company the Purchase Price in cash by delivery
of a certified check payable to the Company or by wire transfer of immediately available funds to the following trust account established
by the Company (“Trust Account”):

__________________________

__________________________

__________________________

__________________________

__________________________

 

(d)       Acknowledgement.
By executing this Agreement, the Subscriber acknowledges that: (i) the Subscriber: (A) is a sophisticated investor, who is able to financially
afford the loss of its entire investment, (B) has performed its own due diligence of the Company, its management and this Offering; (C)
has been informed of various matters, and has had the opportunity to ask Company management questions, relating to the Company, its business,
management, financial condition, and prospects, including but not limited to, this Agreement the Note, the Security Agreement, the Warrant
Agreement and the Registration Rights Agreement attached hereto as Exhibit F (together, the “Offering Documents”)
to its satisfaction; (ii) the Subscriber is an “accredited investor” as such term is defined in Rule 501 of Regulation D,
which definition is attached as Exhibit C attached hereto; (iii) the Subscriber is not and has not been the subject of any “bad
actor disqualifying event,” as described in the excerpt of Rule 506(d) attached hereto as Exhibit D (a “Bad Actor
Disqualifying Event”); and (iv) the Subscriber has relied upon its own determination and the advice of its legal counsel, accountants,
financial and tax advisers and other “purchaser representatives” regarding its decision to purchase the Note and not on the
Company or the Placement Agent or any counsel or representative thereof.

(e)       Incentive
Shares. As further inducement for Subscriber to enter into this Agreement, the Company will deliver to Subscriber at the Closing
that number of transfer-restricted shares of common stock, $0.001 par value per share (“Common Stock”), of the Company
(“Incentive Shares”) that shall equal the product of: 100,000 multiplied by the fraction, the numerator of which is
the Purchase Price paid by the Subscriber and the denominator is 3,000,000. The Incentive Shares will provide the Subscriber with “piggy-back”
registration rights which may be utilized at any time the Company files a registration statement with the SEC after the IPO (as defined
below) as set forth in the Registration Rights Agreement attached hereto as Exhibit F.

(f)       Conversion
Rights. The Subscriber acknowledges that the Note contains optional conversion rights that permits the Subscriber to convert the
outstanding principal and accrued interest on the Note into shares of Common Stock (“Conversion Shares”) at a price
that reflects a 35% discount from the price paid by investors in any transaction by the Company (“Conversion Price”)
that occurs after the Closing Date with the principal purpose of raising equity capital in a private or public sale of it Common Stock
in any amount (a “Qualifying Transaction”).

    2
Adamas Convertible Note Purchase Agreement

     

    

(g)       Warrants.
As further inducement for Subscriber to enter into this Agreement, upon conversion of the Note to Conversion Shares, the Company
will deliver to Subscriber a three year warrant (“Warrant”) to purchase Common Stock of the Company in an amount
equal to fifty percent (50%) of the number of shares received by Subscriber from the conversion of the Note, which number of shares
will increase to an amount equal to seventy five percent (75%) of the number of shares received by Subscriber from the conversion of
the Note if either: (x) the Company has not repaid the Note in full, or (y) the Company has not consummated an initial public
offering of its Common Stock (the “IPO”) pursuant to a registration statement declared effective by the Securities and
Exchange Commission (“SEC”) by the Maturity Date (the “Warrant Share”). So, for example, if the
Subscriber receives 1,000 shares from the conversion of its Note, the Warrant shall be exercisable for 500 shares, or 750 shares if
the above increase is required. The exercise price of the Warrants shall be equal to the Conversion Price multiplied by 1.25. The
Warrants will not be separable from the Note and will provide the Subscriber with “piggy-back” registration rights with
respect to the shares of Common Stock received from exercise of the Warrants which may be utilized at any time the Company files a
registration statement with the SEC after the IPO as set forth in the Registration Rights Agreement attached hereto as Exhibit
F..

(h)       Closing;
Delivery.

(i)       The
purchase and sale of the Notes by the Company to the Subscribers shall occur at one or more closings of the Offering on a date or dates
selected by the Company after the satisfaction of all conditions to its obligation to close as set forth in Section 6, provided that any
such closing date shall not exceed ten (10) days after all conditions to the Company’s obligations to close have been satisfied,
unless the Company rejects the subscription in whole or in part by written notice to the Subscriber and the return of the Subscriber’s
Purchase Price payment (without deduction and without interest) within such time period (each a “Closing” and the date
of such Closing, the “Closing Date”). Closing on the purchase and sale of the Note shall be consummated on such date
as the Company accepts the Subscriber’s offer to purchase the Note as evidenced by the Company’s counter-execution of the
signature page to this Agreement. The Company shall, promptly thereafter, deliver to the Subscriber: (i) the fully executed Agreement,
(ii) a fully executed Note and Security Agreement, (iii) a certificate representing the Incentive Shares, and (iv) a fully executed Registration
Rights Agreement. .

2.       Representations
and Warranties of the Company. The Company hereby represents and warrants to each Subscriber that as of the date of this Agreement
and as of the Closing Date:

(a)       Organization,
Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the
laws of the State of Nevada and has all requisite corporate power and authority to carry on its business as now conducted and as proposed
to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure
so to qualify would have a material adverse effect on its business or properties. The Company has the corporate power and authority to
own or hold under lease the properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact,
to execute and deliver this Agreement, the Note, the Warrant and the Incentive Shares and to perform the provisions hereof and thereof.

(b)       Authorization.
The Agreement, the Note, the Warrant and the Incentive Shares have been duly authorized by all necessary corporate action of the
Company and when executed and delivered by the Company, shall constitute valid and legally binding obligations of the Company, enforceable
against the Company in accordance with their respective terms except as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, and other laws of general application affecting enforcement of creditors’ rights generally,
and as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

    3
Adamas Convertible Note Purchase Agreement

     

    

 (c)
       No Conflicts. Except as set forth in the Offering Documents, the execution,
delivery and performance of the Offering Documents by the Company, the consummation by the Company of the transactions contemplated
by the Offering Documents, and the issuance of the Note, the Incentive Shares and the Warrants and performance by the Company of its
obligations under the Offering Documents, will not: (a) result in a violation of the Company’s Certificate of Incorporation,
any other certificate of designations, preferences and rights of any outstanding series of common stock of the Company, or the
Company’s By-Laws, (b) conflict with, or constitute a default or an event which with notice or lapse of time or both would
become a default under, or give to others any rights of termination, amendment, acceleration or cancellation of, any material
agreement, note and/or other indebtedness, lease, license or instrument, or (c) result in a violation of any law, rule, regulation,
order, judgment or decree (including federal and state Shares laws and regulations and the rules and regulations of FINRA)
applicable to the Company or any of its subsidiaries (“Subsidiaries”) or by which any property or asset of the
Company or any of its Subsidiaries is bound or affected. The Company and its Subsidiaries own or possess all licenses, permits,
franchises, authorizations, patents, copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto,
without known conflict with the rights of others, necessary or appropriate to conduct its business as presently conducted.

(d)       Consents.
The Company is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency or any regulatory or self-regulatory agency in order for it to execute, deliver or perform any of its obligations under or contemplated
by the Offering Documents. Except as otherwise provided in the Offering Documents, all consents, authorizations, orders, filings and registrations
which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof.
The Company and its Subsidiaries are unaware of any facts or circumstances which might prevent the Company from obtaining or effecting
any of the foregoing.

(e)       No
General Solicitation. None of the Company, its Subsidiaries, any of their affiliates, and any person acting on their behalf, has engaged
in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection
with the offer or sale of the Shares.

(f)       No
Integrated Offering. None of the Company, its Subsidiaries, any of their affiliates, and any Person acting on their behalf has, directly
or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would require
registration of any of the Shares under the Securities Act by causing this Offering of the Note, the Incentive Shares and the Warrants
to be integrated with prior offerings by the Company for purposes of the Securities Act or any applicable stockholder approval provisions,
including without limitation, under the Company’s organizational documents or otherwise. None of the Company, its Subsidiaries,
their affiliates and any Person acting on their behalf will take any action or steps referred to in the preceding sentence that would
require registration of any of the Shares under the Securities Act by causing the Offering of the Shares to be integrated with other offerings,
or otherwise.

(g)       Absence
of Litigation. Except as set forth in the Offering Document, there is no action, suit, proceeding, inquiry or investigation before
or by any court, public board, government agency, self-regulatory organization or body, or arbitrator pending or, to the knowledge of
the Company, threatened against the Company, the Common Stock or any of the Company’s officers or directors in their capacities
as such.

    4
Adamas Convertible Note Purchase Agreement

     

    

 (h)       Title. The
Company has good and marketable title to all material properties and tangible assets owned by it, free and clear of all liens,
charges, encumbrances or restrictions, except as such as are not significant or important in relation to the Company’s
business; all of the material leases and subleases under which the Company is the lessor or sublessor of properties or assets or
under which the Company holds properties or assets as lessee or sublessee are in full force and effect, and the Company is not in
default in any material respect with respect to any of the terms or provisions of any of such leases or subleases, and to the
Company’s knowledge no material claim has been asserted by anyone adverse to rights of the Company as lessor, sublessor,
lessee or sublessee under any of the leases or subleases mentioned above, or affecting or questioning the right of the Company to
continued possession of the leased or subleased premises or assets under any such lease or sublease. The Company owns, leases or
licenses all such properties as are necessary to its operations.

(i)       Solvency.
The Company is not insolvent as defined by the law of the State in which it was organized or in any State where it conducts its business.
The Company (i) is paying its debts as they become due, (ii) has not filed, and does not intend to file, or has not consented by answer
or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy,
for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction,
(iii) has not made, and does not intend to make, an assignment of any substantial part of its property for the benefit of its creditors,
(iv) has not consented and does not intend to consent to the appointment of a custodian, receiver, trustee or other officer with similar
powers with respect to it or with respect to any substantial part of its property, and (v) has not taken and does not intend to take any
corporate action for the purpose of any of the foregoing.

(j)       Registration
Rights. Except as set forth herein, no other Person has any right to cause the Company to effect the registration under the Securities
Act of any shares of the Common Stock of the Company.

(k)       Shares
Law Compliance. The offer, offer for sale, and sale of the Note, the Incentive Shares and the Warrants has not been registered with
the SEC. The Note, the Incentive Shares and the Warrants are to be offered, offered for sale and sold in reliance upon the exemptions
from the registration requirements of Section 5 of the Securities Act. The Company will conduct the Offering in compliance with the requirements
of Regulation D under the Securities Act, and the Company will file all appropriate notices of offering with the SEC.

(l)        Issuance
of Incentive Shares and Shares Upon Exercise of Warrants. The issuance, sale and delivery of the Incentive Shares and the shares
of Common Stock upon the exercise of the Warrants have been duly authorized and reserved for issuance by all requisite corporate action
by the Company and, upon issuance in accordance with the Offering Documents, shall be: (a) duly authorized, validly issued, fully paid
and non-assessable, (b) free from all taxes, liens and charges with respect to the issue thereof except that may be created by the Subscriber,
and (c) entitled to the rights and preferences set forth in this Agreement and the Shares. Assuming (i) the accuracy of the information
provided by the respective Subscribers in the this Agreement and the Investor Questionnaire, and (ii) that all of the offerees and Subscribers
are “accredited investors” as such term is defined in Rule 501 of Regulation D, the offer and sale of the Note, the Warrants
and the Shares pursuant to the terms of this Agreement are and will be exempt from the registration requirements of the Securities Act
and the rules and regulations promulgated thereunder. The Company is not disqualified from the exemption under Regulation D by virtue
of the disqualification contained in Rule 507 thereof or otherwise.

    5
Adamas Convertible Note Purchase Agreement

     

    

 (m)       Intellectual
Property. The Company owns or possesses sufficient legal rights to all trademarks, service marks, trade names, domain names,
copyrights, trade secrets, licenses, information, proprietary rights and processes, and patents (in each instance, as used by it in
connection with its business) without any known conflict with, or infringement of, the rights of others, which represent all
intellectual property rights necessary to the conduct of the Company’s business as now conducted and as presently contemplated
to be conducted, the lack of which would have a material adverse effect on the business, assets (including intangible assets),
liabilities, revenues, profits, financial condition, prospects, or property of the Company, taken together as a whole
(“Material Adverse Effect”). There are no outstanding options, licenses, or agreements of any kind relating to
the foregoing, nor is the Company bound by or a party to any options, licenses or agreements of any kind with respect to the
patents, trademarks, service marks, trade names, domain names, copyrights, trade secrets, licenses, information, proprietary rights
and processes of any other person or entity, except, in either case, for agreements between the Company and its own directors,
employees or consultants and/or standard end-user, object code, internal-use software license and support/maintenance agreements. No
product of the Company or any of its Subsidiaries infringes in any respect with any license, permit, franchise, authorization,
patent, copyright, proprietary software, service mark, trademark, trade name or other right owned by any other Person.

(n)       Brokers.
Except for the Placement Agent whose fees and expenses will be paid by the Company, neither the Company nor any of its officers, directors,
employees or stockholders has employed any broker or finder in connection with the transactions contemplated herein.

(o)       Disclosure.
None of the representations and warranties of the Company appearing in this Agreement or any information appearing in any Exhibit hereto,
when considered together as a whole, contains, or on any Closing Date will contain, any untrue statement of a material fact or omits,
or on any Closing Date will omit, to state any material fact required to be stated herein or therein in order for the statements herein
or therein, in light of the circumstances under which they were made, not to be misleading.

3.       Representations
and Warranties of Subscriber. Subscriber hereby represents and warrants to the Company that:

(a)       Authorization.
Such Subscriber is of the age of majority in the State of its residence, not under a disability and not under duress, and thus has full
power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Subscriber, will constitute a valid
and legally binding obligation of the Subscriber, enforceable in accordance with its terms, except as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, and any other laws of general application affecting enforcement of creditors’
rights generally, and as limited by laws relating to the availability of a specific performance, injunctive relief, or other equitable
remedies.

(b)       Purchase
Entirely for Own Account. This Agreement is made with the Subscriber in reliance upon the Subscriber’s representation to
the Company, which by the Subscriber’s execution of this Agreement, the Subscriber hereby confirms, that the Securities to be acquired
by the Subscriber will be acquired for investment for the Subscriber’s own account, not as a nominee or agent, and not with a view
to the resale or distribution of any part thereof, and that the Subscriber has no present intention of selling, granting any participation
in, or otherwise distributing the same. By executing this Agreement, the Subscriber further represents that the Subscriber does not presently
have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such person or
to any third Person, with respect to any of the Securities. The Subscriber has not been formed for the specific purpose of acquiring
any of the Securities.

    6
Adamas Convertible Note Purchase Agreement

     

    

 (c)       Knowledge. The
Subscriber is aware of the Company’s business affairs and financial condition and has acquired sufficient information about
the Company to reach an informed and knowledgeable decision to acquire the Securities. By executing and delivering this Agreement,
the Subscriber acknowledges and agrees that it has not received any private placement memorandum or prospectus for the Offering but
has instead performed and relied solely upon its own due diligence on the Company, its management and this Offering to its
satisfaction, that it has had the opportunity to request and review such documents as the Company has been able to provide without
undue effort or expense and to ask questions about Company, its management and this Offering to Company management and is satisfied
with its review of such documents and with such answers, and has had the opportunity to obtain the advice of its own counsel,
accountants, tax or financial advisor(s) or “purchaser representative” as defined in Regulation D under the Securities
Act. The Subscriber has not utilized or relied upon any other information, document, instrument, discussion or otherwise, whether
from the Company or the Placement Agent, in making its decision to purchase the Note.

(d)       Restricted
Securities. The Subscriber understands that the Securities have not been, and will not be, registered under the Securities Act,
by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona
fide nature of the investment intent and the accuracy of the Subscriber’s representations as expressed herein. The Subscriber understands
that the Securities are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant
to these laws, the Subscriber must hold the Securities indefinitely unless they are registered with the Securities and Exchange Commission
and qualified by state authorities, or an exemption from such registration and qualification requirements is available. The Subscriber
further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements
including, but not limited to, the time and manner of sale, the holding period for the Securities, and on requirements relating to the
Company which are outside of the Subscriber’s control, and which the Company is under no obligation and may not be able to satisfy.
Therefore, the Subscriber acknowledges that it will be required to hold the Securities for an indefinite period of time after purchase.

(e)       No
Public Market. The Subscriber understands that no public market now exists for any of the securities issued by the Company, that
the Company has made no assurances that a public market will ever exist for the Securities.

(f)       Legends.
The Subscriber understands that the Securities, and any securities issued in respect thereof, or exchange therefor, may bear one or all
of the following legends:

(i)       “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT
AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT
AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.”

(ii)       Any
legend required by the Blue-Sky laws of any state to the extent such laws are applicable to the shares represented by the certificate
so legend.

(g)       Accredited
Investor. The Subscriber is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.

4.       Conditions
of the Subscribers’ Obligations at Closing. The obligations of each Subscriber to the Company under this Agreement are subject
to the fulfillment, on or before the Closing, of each of the following conditions, unless otherwise waived:

(a)       Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct on and as of
the Closing Date with the same effect as though such representations and warranties had been made on and as of the date of the Closing.

(b)       Qualifications.
All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States or of any state
that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement shall be obtained by the
Company and be effective as of the Closing.

    7
Adamas Convertible Note Purchase Agreement

     

    

5.       Conditions
of the Company’s Obligations at Closing. The obligations of the Company to each Subscriber under this Agreement are subject
to the fulfillment, on or before the Closing, of each of the following conditions, unless otherwise waived:

(a)       Representations
and Warranties. The representations and warranties of each Subscriber contained in Section 3 shall be true on and as of the Closing
with the same effect as though such representations and warranties had been made on and as of the Closing.

(b)       Qualifications.
All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States or of any state
that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement shall be obtained and effective
as of the Closing.

(c)       Delivery.
The Subscriber shall have delivered to the Company: (i) a dated and executed signature page to this Agreement, with all blanks properly
completed; (ii) the Purchase Price to the Trust Account; (iii) a dated completed and signed Accredited Investor Questionnaire attached
as Exhibit C hereto; and (iv) the Bad Actor Questionnaire attached as Exhibit D hereto, each with all blanks properly completed.

6.       Covenants
of the Company. Until all Notes have been paid in full, the Company:

(a)will, and will
cause each of its Subsidiaries to, comply with all laws, ordinances or governmental rules or regulations to which each of them is subject,
including, without limitation, all applicable environmental laws, and will obtain and maintain in effect all licenses, certificates, permits,
franchises and other governmental authorizations necessary to the ownership of their respective properties or to the conduct of their
respective businesses, in each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules
or regulations or failures to obtain or maintain in effect such licenses, certificates, permits, franchises and other governmental authorizations
could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect on the ;

(b)       will,
and will cause each of its Subsidiaries to, operate its business in the usual and customary matter, and maintain its relationships with
its employees, customers, vendors and suppliers and will, and will cause each of its Subsidiaries to, maintain and keep, or cause to be
maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that
the business carried on in connection therewith may be properly conducted at all times, provided that this Section shall not prevent the
Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable
in the conduct of its business and the Company has concluded that such discontinuance could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect;

(c)        will
not and will not permit any Subsidiary to engage in any business if, as a result, the general nature of the business in which the Company
and its Subsidiaries, taken as a whole, would then be engaged would be substantially changed from the general nature of the business in
which the Company and its Subsidiaries, taken as a whole, are engaged on the date of this Agreement;

(d)       will,
and will cause each of its Subsidiaries to, maintain, with financially sound and reputable insurers, insurance with respect to their respective
properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles,
co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of
established reputations engaged in the same or a similar business and similarly situated;

    8
Adamas Convertible Note Purchase Agreement

     

    

(e)       will,
and will cause each of its Subsidiaries to, file all tax returns required to be filed in any jurisdiction and to pay and discharge all
taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies imposed on them or
any of their properties, assets, income or franchises, to the extent the same have become due and payable and before they have become
delinquent and all claims for which sums have become due and payable that have or might become a lien on properties or assets of the Company
or any Subsidiary, provided that neither the Company nor any Subsidiary need pay any such tax, assessment, charge, levy or claim if: (i)
the amount, applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in appropriate
proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with Generally Accepted Accounting
Principles (“GAAP”) on the books of the Company or such Subsidiary, or (ii) the nonpayment of all such taxes, assessments,
charges, levies and claims in the aggregate could not reasonably be expected to have a Material Adverse Effect;

(f)       will
at all times preserve and keep in full force and effect its corporate existence and will at all times preserve and keep in full force
and effect the corporate existence of each of its Subsidiaries (unless merged into the Company or a wholly-owned Subsidiary) and all rights
and franchises of the Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to
preserve and keep in full force and effect such corporate existence, right or franchise could not, individually or in the aggregate, have
a Material Adverse Effect;

(g)       will,
and will cause each of its Subsidiaries to, maintain proper books of record and account in conformity with GAAP and all applicable requirements
of any governmental authority having legal or regulatory jurisdiction over the Company or such Subsidiary, as the case may be;

(h)       will
not, while any Note is outstanding, (i) issue any debt that shall rank in right of payment or collection senior to, or on a parity with,
the Note nor shall the Company take any action that shall incur a prior or additional lien or encumbrance upon the collateral securing
the Company’s payment obligations under the Note or take any action that would impair or endanger the said collateral, or (ii) authorize
or issue any preferred stock or other equity that ranks senior to the Common Stock;

(i)       will
not, and will not permit any Subsidiary to, sell, lease or otherwise dispose of more than forty percent (40%) of the assets of the Company
and its Subsidiaries on a consolidated basis unless the Company utilizes the net proceeds received from such sale, lease or other disposition
to pay or pre-pay all of the then outstanding principal and accrued and unpaid interest and any fees due and payable on all of the Notes
then outstanding;

(j)       will
not, and will not permit any of its Subsidiaries to, consolidate with or merge with any other Person unless prior to the date of the consummation
of such merger or consolidation, the Company pays or pre-pays all of the then outstanding principal and accrued and unpaid interest and
any fees due and payable on all of the Notes then outstanding;

(k)       will
not, and will not permit any of its Subsidiaries to, take any action or omit to take any action that would circumvent the covenants set
forth herein or create substantial doubt as to whether the Company will, at any time after the Closing Date, be able to pay the Note prior
to the Maturity Date; and

    9
Adamas Convertible Note Purchase Agreement

     

    

(l)       will
at all times reserve and keep available out of its authorized but unissued shares of Common Stock, as applicable, solely for the
purpose of effecting the conversion of the Note into Conversion Shares or the exercise of the Warrants into Warrant Shares, such
number of shares of its duly authorized shares of Conversion Shares as will from time to time be sufficient to effect the conversion
of the Note into Conversion Shares or the exercise of the Warrants into Warrant Shares in full. If at any time the number of
authorized but unissued Conversion Shares is not sufficient to effect the conversion of the Note into Conversion Shares or the
exercise of the Warrants into Warrant Shares, the Company will take such action as may, in the reasonable opinion of its counsel, be
necessary to increase its authorized but unissued Conversion Shares to such number as is sufficient for such purpose, including
engaging in commercially reasonable efforts to obtain the requisite stockholder approval of any necessary amendment to its
certificate of incorporation. The Company further agrees that all Conversion Shares that may be issued upon the conversion of the
rights represented by the Note will be duly authorized and will be validly issued, fully paid and non-assessable, free from all
taxes, liens, charges and preemptive rights with respect to the issuance thereof, other than restrictions imposed by federal and
state securities laws.

7.       Registration;
Exchange; Substitution of the Notes.

(a)The Company
shall keep at its principal executive office a register for the registration and registration of transfers of Notes. The name and address
of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered
in such register. Prior to due presentment for registration of transfer, the Person in whose name any Note shall be registered shall be
deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice or knowledge
to the contrary.

(b)Upon surrender
of any Note to the Company at the Company’s principal executive office as set forth in Section address and to the attention of the
designated officer (all as specified in Section 8(f), for registration of transfer or exchange (and in the case of a surrender for registration
of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s
attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee
of such Note or part thereof), within ten (10) Business Days thereafter, the Company shall execute and deliver, at the Company’s
expense (except as provided below), one or more new Notes (as requested by the holder thereof) in exchange therefor, in an aggregate principal
amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder
may request and shall be substantially in the form of the Note originally issued hereunder. Each such new Note shall be dated and bear
interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no
interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge
imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $10,000, provided that
if necessary to enable the registration of transfer by a holder of its entire holding of Notes, one Note may be in a denomination of less
than $10,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have
made the representation set forth in Section 3. For purposes of this Agreement, a “Business Day” is any day other than
a Saturday, Sunday or Federally observed holiday.

(c)Upon receipt
by the Company of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note,
and (i) in the case of loss, theft or destruction, of indemnity reasonably satisfactory to it, or (ii) in the case of mutilation, upon
surrender and cancellation thereof, the Company at its own expense shall execute and deliver not more than five (5) Business Days following
satisfaction of such conditions, in lieu thereof, a new Note, dated and bearing interest from the date to which interest shall have been
paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest
shall have been paid thereon.

    10
Adamas Convertible Note Purchase Agreement

     

    

8.       Miscellaneous.

(a)       Survival;
Breach. Sections 2, 3 6, 7, and this Section 8 shall survive the execution and delivery of this Agreement and the Notes, the purchase
or transfer by any Subscriber of any Note or portion thereof or interest therein and the payment of any Note, the conversion of the Notes,
the exercise of the Warrants, and may be relied upon by the Company and any subsequent holder of a Note, regardless of any investigation
made at any time by or on behalf of such Subscriber or any other holder of a Note. All statements contained in any certificate or other
instrument delivered by or on behalf of the Company pursuant to this Agreement shall be deemed representations and warranties of the Company
under this Agreement. Any breach of such representations, warranties and/or covenants of this Agreement shall be considered to be an Event
of Default under the Note and a breach of this Agreement.

(b)       Successors
and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the parties hereto.
This Agreement is not assignable by the Company and is assignable by the Subscriber only upon the proper and lawful transfer of the Note.
This Agreement shall inure to the benefit of the Subscriber’s successors, heirs, personal representatives and permitted assigns.
Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective
successors and permitted assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly
provided in this Agreement.

(c)       Governing
Law. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be
governed, construed and interpreted in accordance with the laws of the State of New York, without giving effect to principles of conflicts
of law.

(d)       Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall
constitute one instrument. Executed counterparts of this Agreement may be delivered by facsimile transmission or by delivery of a scanned
counterpart in portable document format (PDF) by e-mail. The signatures in the facsimile or PDF data file will be deemed to have the same
force and effect as if the manually signed counterpart had been delivered to the other party in person.

(e)       Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing
or interpreting this Agreement.

(f)       Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt or: (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail or
facsimile during normal business hours of the recipient upon confirmation of receipt, and if not sent during normal business hours, then
on the recipient’s next business day upon confirmation of receipt, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one Business Day after deposit with a nationally recognized overnight courier,
freight prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the
respective parties at their address as set forthbelow, or to such e-mail address, facsimile number or address as subsequently modified
by written notice given in accordance with this Section. If notice is given to the Company to 411 University Ridge, Suite 110, Greenville,
South Carolina 29601, with a copy (which shall not constitute notice) shall also be sent to Greenberg Traurig LLP, 18565 Jamboree Road,
Suite 500, Irvine, CA 92612, Attention: Raymond A. Lee, Esq., email: leer@gtlaw.com, fax: (949) 708-6501, and if notice is given to the
Investor, a copy (which shall not constitute notice) shall also be given to the Placement Agent, Alexander Capital, L.P., 17 State Street,
New York, New York 10004, with a copy (which shall not constitute notice) to Carmel, Milazzo & Feil, LLP, 55 West 39th
Street, 18th Floor, New York, NY 10018, Attention: Ross David Carmel, Esq., email: rcarmel@cmfllp.com, fax: (646) 838-1314.

    11
Adamas Convertible Note Purchase Agreement

     

    

(g)       Finder’s
Fee. Each Subscriber agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation
in the nature of a finder’s fee (and the costs and expenses of defending against such liability or asserted liability) for which
each Subscriber or any of its officers, employees, or representatives is responsible. The Company agrees to indemnify and hold harmless
each Subscriber from any liability for any commission or compensation in the nature of a finder’s fee (and the costs and expenses
of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives
is responsible.

(h)       Amendments
and Waivers. Any term of this Agreement may be amended or waived only with the written consent of the Company and the holders
of at least a majority of the then outstanding principal balance of the Notes. Any amendment or waiver effected in accordance with this
Section 8(g) shall be noticed in writing to all Note holders and shall be binding upon each Subscriber and each transferee of the Securities,
each future holder of all such Securities, and the Company.

(i)       Severability.
If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision
in good faith, in order to maintain the economic position enjoyed by each party as close as possible to that under the provision rendered
unenforceable. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i)
such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were
so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

(j)       Entire
Agreement. This Agreement, and the documents referred to herein constitute the entire agreement between the parties hereto pertaining
to the subject matter hereof, and any and all other written or oral agreements existing between the parties hereto are expressly canceled.

(k)       Exculpation
Among Subscribers. Each Subscriber acknowledges that it is not relying upon any person, firm or corporation, other than the Company
and its officers and directors, in making its investment or decision to invest in the Company. Each Subscriber agrees that no Subscriber
nor the Placement Agent nor any of the respective controlling persons, officers, directors, partners, agents, or employees thereof shall
be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the Securities.

(l)       Stockholders,
Officers and Directors Not Liable. In no event shall any stockholder, officer or director of the Company be liable for any amounts
due or payable pursuant to the Note.

 

[Signature Pages Follow]

    12
Adamas Convertible Note Purchase Agreement

     

    

The parties have executed
this Convertible Note Purchase Agreement as of the date first written above. 

 

	 	COMPANY:
	 	 
	 	ADAMAS ONE CORP.
	 	 
	 	 
	 	 
	 	 
	 	By:	 
	 	 	John Grdina
	Chief Executive Officer
	 	 	 	 
	 	Address:	411 University Ridge, Suite 110
	 	 	Greenville, SC 29601 

 

 

    [Signature Page to Convertible Note Purchase Agreement]

     

    

The parties have executed this Convertible Note Purchase
Agreement as of the date first written above.

 

	 	SUBSCRIBER:
	 	 
	 	 
	 	 
	 	By:	 
	 	Name:	 
	 	 	 
	 	Address:
	 	 	 
	 	Email

 

 

 

 

 

 

    [Signature Page to Convertible Note Purchase Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]