Document:

Exhibit 10.1

 

NEITHER
THE ISSUANCE NOR SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	Principal Amount: $33,000.00	Issue Date: January 18, 2019 

Purchase
Price: $31,750.00

Original
Issue Discount: $1,250.00

 

CONVERTIBLE
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, HYPERSOLAR, INC., a Nevada corporation (hereinafter called the “Borrower”) (Trading
Symbol: HYSR), hereby promises to pay to the order of CROWN BRIDGE PARTNERS, LLC, a New York limited liability
company, or registered assigns (the “Holder”) the principal sum of $33,000.00 (the “Principal
Amount”), together with interest at the rate of ten percent (10%) per annum (with the understanding that the first
twelve months of interest shall be guaranteed), at maturity or upon acceleration or otherwise, as set forth herein (the
“Note”). The consideration to the Borrower for this Note is $31,750.00 (the “Consideration”). The
maturity date shall be twelve (12) months from the Issue Date (the “Maturity Date”), and is the date upon which
the principal sum, as well as any accrued and unpaid interest and other fees, shall be due and payable. This Note may not be
prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest on this
Note, which is not paid by the Maturity Date, shall bear interest at the rate of the lesser of (i) fifteen percent (15%) per
annum or (ii) the maximum amount permitted by law from the due date thereof until the same is paid (“Default
Interest”). Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis
of a 365-day year and the actual number of days elapsed. All payments due hereunder (to the extent not converted into the
Borrower’s common stock (the “Common Stock”) in accordance with the terms hereof) shall be made in lawful
money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the
Borrower by written notice made in accordance with the provisions of this Note. Whenever any amount expressed to be due by
the terms of this Note is due on any day which is not a business day, the same shall instead be due on the next
succeeding day which is a business day and, in the case of any interest payment date which is not the date on which this Note
is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining the amount
of interest due on such date. As used in this Note, the term “business day” shall mean any day other than a
Saturday, Sunday or a day on which commercial banks in the city of New York, New York are authorized or required by law or
executive order to remain closed.

 

     

     

    

 

This
Note carries an original issue discount of $1,250.00 (the “OID”), to cover the Holder’s accounting fees, due
diligence fees, monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Note, which
is included in the principal balance of this Note. Thus, the purchase price of this Note shall be $31,750.00, computed as follows:
the Principal Amount minus the OID.

 

This
Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The
following additional terms shall apply to this Note:

 

ARTICLE
I. CONVERSION RIGHTS

 

1.1  Conversion
Right. The Holder shall have the right at any time to convert all or any part of the outstanding and unpaid principal
amount and accrued and unpaid interest of this Note into fully paid and non-assessable shares of Common Stock, as such Common
Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which such
Common Stock shall hereafter be changed or reclassified at the conversion price (the “Conversion Price”)
determined as provided herein (a “Conversion”); provided, however, that in no event shall the
Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion of which the
sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares of
Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Notes or the
unexercised or unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise
analogous to the limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of
the portion of this Note with respect to which the determination of this proviso is being made, would result in beneficial
ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the
proviso to the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Regulations 13D-G thereunder, except as
otherwise provided in clause (1) of such proviso. The number of shares of Common Stock to be issued upon each conversion of
this Note shall be determined by dividing the Conversion Amount (as defined below) by the applicable Conversion Price then in
effect on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the “Notice of
Conversion”), delivered to the Borrower or Borrower’s transfer agent by the Holder in accordance with Section
1.4 below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or
reasonably expected to result in, notice) to the Borrower or Borrower’s transfer agent before 11:59 p.m., New York, New
York time on such conversion date (the “Conversion Date”). The term “Conversion Amount” means, with
respect to any conversion of this Note, the sum of (1) the principal amount of this Note to be converted in such conversion plus (2)
at the Holder’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates provided in
this Note to the Conversion Date, plus (3) at the Holder’s option, Default Interest, if any, on the amounts
referred to in the immediately preceding clauses (1) and/or (2) plus (4) at the Holder’s option, any amounts
owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof.

 

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 1.2 Conversion Price.

 

(a)  Calculation
of Conversion Price. The Conversion Price shall be the Variable Conversion Price (as defined herein) (subject to
equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the
Borrower’s securities or the securities of any subsidiary of the Borrower, combinations, recapitalization,
reclassifications, extraordinary distributions and similar events) (also subject to adjustment as further described herein).
The "Variable Conversion Price" shall mean 61% multiplied by the Market Price (as defined herein) (representing a
discount rate of 39%). “Market Price” means the lowest one (1) Trading Price (as defined below) for the Common
Stock during the twenty-five (25) Trading Day period ending on the last complete Trading Day prior to the Conversion Date.
“Trading Price” means, for any security as of any date, the lesser of the (i) lowest traded price or (ii) lowest
closing bid price on the Over-the-Counter Pink Marketplace, OTCQB, or applicable trading market (the “OTCQB”) as
reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if
the OTCQB is not the principal trading market for such security, on the principal securities exchange or trading market where
such security is listed or traded or, if the lowest intraday trading price of such security is not available in any of the
foregoing manners, the lowest intraday price of any market makers for such security that are quoted on the OTC Markets. If
the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall
be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being
converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such
Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on
the principal securities exchange or other securities market on which the Common Stock is then being traded. In the event
that shares of the Borrower’s Common Stock are not deliverable via DWAC following the conversion of any amount
hereunder, an additional ten percent (10%) discount shall be factored into the Variable Conversion Price until this Note is
no longer outstanding (resulting in a discount rate of 49% assuming no other adjustments are triggered hereunder).
Additionally, if the Borrower fails to comply with the reporting requirements of the Exchange Act (including but not limited
to becoming late or delinquent in its filings, even if the Borrower subsequently cures such delinquency) at any time while
after the Issue Date, and/or the Borrower shall cease to be subject to the reporting requirements of the Exchange Act, an
additional fifteen percent (15%) discount shall be factored into the Variable Conversion Price until this Note is no longer
outstanding (resulting in a discount rate of 54% assuming no other adjustments are triggered hereunder).

 

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Each
time, while this Note is outstanding, the Borrower enters into a Section 3(a)(9) transaction (including but not limited to the
issuance of new promissory notes or of a replacement promissory note), or Section 3(a)(10) transaction, in which any 3rd
party has the right to convert monies owed to that 3rd party (or receive shares pursuant to a settlement or otherwise)
at a discount to market greater than the Variable Conversion Price in effect at that time (prior to all other applicable adjustments
in the Note), then the Variable Conversion Price shall be automatically adjusted to such greater discount percentage (prior to
all applicable adjustments in this Note) until this Note is no longer outstanding. Each time, while this Note is outstanding,
the Borrower enters into a Section 3(a)(9) transaction (including but not limited to the issuance of new promissory notes or of
a replacement promissory note), or Section 3(a)(10) transaction, in which any 3rd party has a look back period greater
than the look back period in effect under the Note at that time, then the Holder’s look back period shall automatically
be adjusted to such greater number of days until this Note is no longer outstanding. The Borrower shall give written notice to
the Holder, with the adjusted Variable Conversion Price and/or adjusted look back period (each adjustment that is applicable due
to the triggering event), within one (1) business day of an event that requires any adjustment described in the two immediately
preceding sentences.

 

Holder
shall be entitled to deduct $500.00 from the conversion amount in each Notice of Conversion to cover Holder’s deposit fees
associated with each Notice of Conversion.

 

If
at any time the Conversion Price as determined hereunder for any conversion would be less than the par value of the Common Stock,
then at the sole discretion of the Holder, the Conversion Price hereunder may equal such par value for such conversion and the
Conversion Amount for such conversion may be increased to include Additional Principal, where “Additional Principal”
means such additional amount to be added to the Conversion Amount to the extent necessary to cause the number of conversion shares
issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price
not been adjusted by the Holder to the par value price.

 

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(b)  Authorized
Shares. The Borrower covenants that during the period the conversion right exists, the Borrower will reserve from its
authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the
issuance of Common Stock upon the full conversion of this Note. The Borrower is required at all times to have authorized and
reserved eight times the number of shares that is actually issuable upon full conversion of the Note (based on the Conversion
Price of the Notes in effect from time to time)(the “Reserved Amount”). The Reserved Amount shall be increased
from time to time in accordance with the Borrower’s obligations hereunder. The Borrower represents that upon issuance,
such shares will be duly and validly issued, fully paid and non-assessable. In addition, if the Borrower shall issue any
securities or make any change to its capital structure which would change the number of shares of Common Stock into which the
Notes shall be convertible at the then current Conversion Price, the Borrower shall at the same time make proper provision so
that thereafter there shall be a sufficient number of shares of Common Stock authorized and reserved, free from preemptive
rights, for conversion of the outstanding Notes. The Borrower (i) acknowledges that it has irrevocably instructed its
transfer agent to issue certificates for the Common Stock issuable upon conversion of this Note, and (ii) agrees that its
issuance of this Note shall constitute full authority to its officers and agents who are charged with the duty of executing
stock certificates to execute and issue the necessary certificates for shares of Common Stock in accordance with the terms
and conditions of this Note.

 

If,
at any time the Borrower does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of
the Note.

 

1.3 Method
of Conversion.

 

(a)  Mechanics
of Conversion. Subject to Section 1.1, this Note may be converted by the Holder in whole or in part at any time from time
to time after the Issue Date, by (A) submitting to the Borrower or Borrower’s transfer agent a Notice
of Conversion (by facsimile, e-mail or other reasonable means of communication dispatched on the Conversion Date prior to
11:59 p.m., New York, New York time) and (B) subject to Section 1.4(b), surrendering this Note at the principal office of the
Borrower.

 

(b) 
Surrender of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note
in accordance with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless
the entire unpaid principal amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the
principal amount so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the
Holder and the Borrower, so as not to require physical surrender of this Note upon each such conversion. In the event of any dispute
or discrepancy, such records of the Borrower shall, prima facie, be controlling and determinative in the absence of manifest
error. Notwithstanding the foregoing, if any portion of this Note is converted as aforesaid, the Holder may not transfer this
Note unless the Holder first physically surrenders this Note to the Borrower, whereupon the Borrower will forthwith issue and
deliver upon the order of the Holder a new Note of like tenor, registered as the Holder (upon payment by the Holder of any applicable
transfer taxes) may request, representing in the aggregate the remaining unpaid principal amount of this Note. 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 represented by this Note may be
less than the amount stated on the face hereof.

 

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(c) 
Payment of Taxes. The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of shares of Common Stock or other securities or property on conversion of this Note in a name other
than that of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such shares or other
securities or property unless and until the person or persons (other than the Holder or the custodian in whose street name such
shares are to be held for the Holder’s account) requesting the issuance thereof shall have paid to the Borrower the amount
of any such tax or shall have established to the satisfaction of the Borrower that such tax has been paid.

 

(d) 
Delivery of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail
(or other reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in
this Section 1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder
certificates for the Common Stock issuable upon such conversion within two (2) business days after such receipt (the “Deadline”)
(and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with
the terms hereof.

 

(e) 
Obligation of Borrower to Deliver Common Stock. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall
be deemed to be the holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the
amount of accrued and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults
on its obligations under this Article I, all rights with respect to the portion of this Note being so converted shall forthwith
terminate except the right to receive the Common Stock or other securities, cash or other assets, as herein provided, on such
conversion. If the Holder shall have given a Notice of Conversion as provided herein, the Borrower’s obligation to issue
and deliver the certificates for Common Stock shall be absolute and unconditional, irrespective of the absence of any action by
the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against
any person or any action to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower
to the holder of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by
the Holder of any obligation to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation
of the Borrower to the Holder in connection with such conversion. The Conversion Date specified in the Notice of Conversion shall
be the Conversion Date so long as the Notice of Conversion is sent to the Borrower or Borrower’s transfer agent before 11:59
p.m., New York, New York time, on such date.

 

(f) 
Delivery of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock
issuable upon conversion, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated
Securities Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions contained
in Section 1.1 and in this Section 1.4, the Borrower shall use its best efforts to cause its transfer agent to electronically
transmit the Common Stock issuable upon conversion to the Holder by crediting the account of Holder’s Prime Broker with
DTC through its Deposit Withdrawal Agent Commission (“DWAC”) system.

 

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(g) Failure
to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder’s right to pursue other remedies,
including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable
upon conversion of this Note is not delivered by the Deadline (other than a failure due to the circumstances described in
Section 1.3 above, which failure shall be governed by such Section) the Borrower shall pay to the Holder $2,000 per day in
cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock. Such cash amount shall be paid
to Holder by the fifth day of the month following the month in which it has accrued or, at the option of the Holder (by
written notice to the Borrower by the first day of the month following the month in which it has accrued), shall be added to
the principal amount of this Note, in which event interest shall accrue thereon in accordance with the terms of this Note and
such additional principal amount shall be convertible into Common Stock in accordance with the terms of this Note. The
Borrower agrees that the right to convert is a valuable right to the Holder. The damages resulting from a failure, attempt to
frustrate, interference with such conversion right are difficult if not impossible to qualify. Accordingly the parties
acknowledge that the liquidated damages provision contained in this Section 1.4(g) are justified.

 

(h) 
DTC; Market Loss. If the Borrower fails to maintain its status as “DTC Eligible” for any reason, or, if at
any time while this Note is outstanding the Conversion Price is equal to or lower than $0.0035, then an additional ten percent
(10%) discount shall be factored into the Variable Conversion Price until this Note is no longer outstanding (resulting in a discount
rate of 49%, assuming no other adjustments are triggered hereunder.

 

1.4 
 Concerning the Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred
unless (i) such shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer
agent shall have been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for
opinions of counsel in comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred
pursuant to an exemption from such registration or (iii) such shares are sold or transferred pursuant to Rule 144 under the Act
(or a successor rule) (“Rule 144”) or (iv) such shares are transferred to an “affiliate” (as defined in
Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance with this Section 1.5 and who
is an Accredited Investor. Except as otherwise provided (and subject to the removal provisions set forth below), until such time
as the shares of Common Stock issuable upon conversion of this Note have been registered under the Act or otherwise may be sold
pursuant to Rule 144 without any restriction as to the number of securities as of a particular date that can then be immediately
sold, each certificate for shares of Common Stock issuable upon conversion of this Note that has not been so included in an effective
registration statement or that has not been sold pursuant to an effective registration statement or an exemption that permits
removal of the legend, shall bear a legend substantially in the following form, as appropriate:

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE
EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL
BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE
SECURITIES.”

 

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The
legend set forth above shall be removed and the Borrower shall issue to the Holder a new certificate therefore free of any transfer
legend if (i) the Borrower or its transfer agent shall have received an opinion of counsel, in form, substance and scope customary
for opinions of counsel in comparable transactions, to the effect that a public sale or transfer of such Common Stock may be made
without registration under the Act, which opinion shall be accepted by the Borrower so that the sale or transfer is effected or
(ii) in the case of the Common Stock issuable upon conversion of this Note, such security is registered for sale by the Holder
under an effective registration statement filed under the Act or otherwise may be sold pursuant to Rule 144 without any restriction
as to the number of securities as of a particular date that can then be immediately sold. In the event that the Borrower does
not accept the opinion of counsel provided by the Holder with respect to the transfer of Securities pursuant to an exemption from
registration, such as Rule 144 or Regulation S, at the Deadline, it will be considered an Event of Default pursuant to Section
3.2 of the Note.

 

 1.5 [Intentionally Omitted].

 

1.6 
Status as Shareholder. Upon submission of a Notice of Conversion by a Holder, (i) the shares covered thereby (other than
the shares, if any, which cannot be issued because their issuance would exceed such Holder’s allocated portion of the Reserved
Amount or Maximum Share Amount) shall be deemed converted into shares of Common Stock and (ii) the Holder’s rights as a
Holder of such converted portion of this Note shall cease and terminate, excepting only the right to receive certificates for
such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because
of a failure by the Borrower to comply with the terms of this Note. Notwithstanding the foregoing, if a Holder has not received
certificates for all shares of Common Stock prior to the tenth (10th) business day after the expiration of the Deadline with respect
to a conversion of any portion of this Note for any reason, then (unless the Holder otherwise elects to retain its status as a
holder of Common Stock by so notifying the Borrower) the Holder shall regain the rights of a Holder of this Note with respect
to such unconverted portions of this Note and the Borrower shall, as soon as practicable, return such unconverted Note to the
Holder or, if the Note has not been surrendered, adjust its records to reflect that such portion of this Note has not been converted.
In all cases, the Holder shall retain all of its rights and remedies (including, without limitation, (i) the right to receive
Conversion Default Payments pursuant to Section 1.3 to the extent required thereby for such Conversion Default and any subsequent
Conversion Default and (ii) the right to have the Conversion Price with respect to subsequent conversions determined in accordance
with Section 1.3) for the Borrower’s failure to convert this Note.

 

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ARTICLE
II. CERTAIN COVENANTS

 

2.1 Distributions
on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not without the
Holder’s written consent (a)  pay, declare or set apart for such payment, any dividend or other
distribution (whether in cash, property or other securities) on shares of capital stock other than dividends on shares of
Common Stock solely in the form of additional shares of Common Stock or (b) directly or indirectly or through any subsidiary
make any other payment or distribution in respect of its capital stock except for distributions pursuant to any
shareholders’ rights plan which is approved by a majority of the Borrower’s disinterested directors.

 

2.2 
Restriction on Stock Repurchases. So long as the Borrower shall have any obligation under this Note, the Borrower shall
not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property
or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the
Borrower or any warrants, rights or options to purchase or acquire any such shares.

 

2.3 
Borrowings. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s
written consent, create, incur, assume guarantee, endorse, contingently agree to purchase or otherwise become liable upon the
obligation of any person, firm, partnership, joint venture or corporation, except by the endorsement of negotiable instruments
for deposit or collection, or suffer to exist any liability for borrowed money, except (a) borrowings in existence or committed
on the date hereof and of which the Borrower has informed Holder in writing prior to the date hereof, (b) indebtedness to trade
creditors financial institutions or other lenders incurred in the ordinary course of business or (c) borrowings, the proceeds
of which shall be used to repay this Note.

 

2.4 
Sale of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the
Holder’s written consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary
course of business. Any consent to the disposition of any assets shall be conditioned on a specified use of the proceeds towards
the repayment of this Note.

 

2.5 
Advances and Loans. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without
the Holder’s written consent, lend money, give credit or make advances to any person, firm, joint venture or corporation,
including, without limitation, officers, directors, employees, subsidiaries and affiliates of the Borrower, except loans, credits
or advances (a) in existence or committed on the date hereof and which the Borrower has informed Holder in writing prior to the
date hereof, (b) made in the ordinary course of business, or (c) not in excess of $100,000.

 

2.6 
Section 3(a)(9) or 3(a)(10) Transaction. So long as this Note is outstanding, the Borrower shall not enter into any transaction
or arrangement structured in accordance with, based upon, or related or pursuant to, in whole or in part, either Section 3(a)(9)
of the Securities Act (a “3(a)(9) Transaction”) or Section 3(a)(l0) of the Securities Act (a “3(a)(l0) Transaction”).
In the event that the Borrower does enter into, or makes any issuance of Common Stock related to a 3(a)(9) Transaction or a 3(a)(l0)
Transaction while this note is outstanding, a liquidated damages charge of 25% of the outstanding principal balance of this Note,
but not less than Fifteen Thousand Dollars $15,000, will be assessed and will become immediately due and payable to the Holder
at its election in the form of cash payment or addition to the balance of this Note.

 

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2.7 
Preservation of Existence, etc. The Borrower shall maintain and preserve, and cause each of its Subsidiaries to maintain
and preserve, its existence, rights and privileges, and become or remain, and cause each of its Subsidiaries (other than dormant
Subsidiaries that have no or minimum assets) to become or remain, duly qualified and in good standing in each jurisdiction in
which the character of the properties owned or leased by it or in which the transaction of its business makes such qualification
necessary.

 

2.8 
Non-circumvention. The Borrower hereby covenants and agrees that the Borrower will not, by amendment of its Certificate
or Articles of Incorporation or Bylaws, or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement,
dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Note, and will at all times in good faith carry out all the provisions of this Note and take all action
as may be required to protect the rights of the Holder.

 

ARTICLE
III. EVENTS OF DEFAULT

 

If
any of the following events of default (each, an “Event of Default”) shall occur:

 

3.1 
Failure to Pay Principal or Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this
Note, whether at maturity, upon acceleration or otherwise, and such breach continues for a period of five (5) days.

 

3.2  Conversion
and the Shares. The Borrower fails to reserve a sufficient amount of shares of common stock as required under the terms
of this Note (including Section 1.3 of this Note) and such breach continues for a period of five (5) days, fails to issue
shares of Common Stock to the Holder (or announces or threatens in writing that it will not honor its obligation to do
so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the terms of this Note, fails to
transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form) shares of Common Stock
issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, the Borrower
directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring (or issuing)
(electronically or in certificated form) shares of Common Stock to be issued to the Holder upon conversion of or otherwise
pursuant to this Note as and when required by this Note, or fails to remove (or directs its transfer agent not to remove or
impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer
instructions in respect thereof) on any shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant
to this Note as and when required by this Note (or makes any written announcement, statement or threat that it does not
intend to honor the obligations described in this paragraph) and any such failure shall continue uncured (or any written
announcement, statement or threat not to honor its obligations shall not be rescinded in writing) for two (2) business days
after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to remain current in its
obligations to its transfer agent. It shall be an event of default of this Note, if a conversion of this Note is delayed,
hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the
Holder advances any funds to the Borrower’s transfer agent in order to process a conversion, such advanced funds shall
be paid by the Borrower to the Holder within five (5) business days of a demand from the Holder, either in cash or as an
addition to the balance of the Note, and such choice of payment method is at the discretion of the Borrower.

 

    10

     

    

 

3.3 
Breach of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this
Note and any collateral documents and such breach continues for a period of ten (10) days after written notice thereof to the
Borrower from the Holder.

 

3.4 
Breach of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement,
statement or certificate given in writing pursuant hereto or in connection herewith, shall be false or misleading in any material
respect when made and the breach of which has (or with the passage of time will have) a material adverse effect on the rights
of the Holder with respect to this Note.

 

3.5 
Receiver or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors,
or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business,
or such a receiver or trustee shall otherwise be appointed.

 

3.6 
Judgments. Any money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary
of the Borrower or any of its property or other assets for more than $50,000, and shall remain unvacated, unbonded or unstayed
for a period of twenty (20) days unless otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.7 
Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary,
for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any
subsidiary of the Borrower.

 

3.8 
Delisting of Common Stock. The Borrower shall fail to maintain the listing or quotation of the Common Stock on the OTCQB
or an equivalent replacement exchange, the Nasdaq Global Market, the Nasdaq Capital Market, the New York Stock Exchange, or the
NYSE MKT.

 

    11

     

    

 

3.9 
Failure to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange
Act (including but not limited to becoming late or delinquent in its filings at any time while this Note is outstanding, even
if the Borrower subsequently cures such delinquency), and/or the Borrower shall cease to be subject to the reporting requirements
of the Exchange Act.

 

3.10 
Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.11 
Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to
pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as
a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due, or any disposition
or conveyance of any material asset of the Borrower.

 

3.12 
Financial Statement Restatement. The Borrower replaces its auditor, or any restatement of any financial statements filed
by the Borrower with the SEC for any date or period from two years prior to the Issue Date of this Note and until this Note is
no longer outstanding, if the result of such restatement would, by comparison to the unrestated financial statement, have constituted
a material adverse effect on the rights of the Holder with respect to this Note.

 

3.13 
Replacement of Transfer Agent. In the event that the Borrower replaces its transfer agent, and the Borrower fails to provide
prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions (including but not limited
to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer agent
to Borrower and the Borrower.

 

3.14 
Cross-Default. Notwithstanding anything to the contrary contained in this Note or the other related or companion documents,
a breach or default by the Borrower of any covenant or other term or condition contained in any of the other financial instrument,
including but not limited to all convertible promissory notes, currently issued, or hereafter issued, by the Borrower, to the
Holder or any other 3rd party (the “Other Agreements”), after the passage of all applicable notice and
cure or grace periods, shall, at the option of the Holder, be considered a default under this Note, in which event the Holder
shall be entitled to apply all rights and remedies of the Holder under the terms of this Note by reason of a default under said
Other Agreement or hereunder.

 

3.15  Inside
Information. Any attempt by the Borrower or its officers, directors, and/or affiliates to transmit, convey, disclose, or
any actual transmittal, conveyance, or disclosure by the Borrower or its officers, directors, and/or affiliates of, material
non-public information concerning the Borrower, to the Holder or its successors and assigns, which is not immediately cured
by Borrower’s filing of a Form 8-K pursuant to Regulation FD on that same date.

 

    12

     

    

 

3.16 
No bid. At any time while this Note is outstanding, the lowest Trading Price on the OTCQB or other applicable principal
trading market for the Common Stock is equal to or less than $0.0001.

 

Upon
the occurrence of any Event of Default specified in Sections 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.12,
3.13, 3.14, 3.15, and/or 3.16 exercisable through the delivery of written notice to the Borrower by such Holders (the
“Default Notice”), the Note shall become immediately due and payable and the Borrower shall pay to the Holder, in
full satisfaction of its obligations hereunder, an amount equal to 150% multiplied by the then outstanding entire
balance of the Note (including principal and accrued and unpaid interest) plus Default Interest, if any, plus any
amounts owed to the Holder pursuant to Sections 1.4(g) hereof (collectively, in the aggregate of all of the above, the
“Default Amount”), and all other amounts payable hereunder shall immediately become due and payable, all without
demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without
limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and
remedies available at law or in equity.

 

If
the Borrower fails to pay the Default Amount within one (1) business day of written notice that such amount is due and payable,
then the Holder shall have the right at any time, to require the Borrower, upon written notice, to immediately issue, in lieu
of the Default Amount, the number of shares of Common Stock of the Borrower equal to the Default Amount divided by the Conversion
Price then in effect, subject to issuance in tranches due to the beneficial ownership limitations contained in this Note.

 

ARTICLE
IV. MISCELLANEOUS

 

4.1  Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other right, power or privileges. All rights and remedies
existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

    13

     

    

 

4.2 
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, facsimile, or electronic mail addressed as set forth below or to such other address
as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to
be given hereunder shall be deemed effective (a) upon hand delivery, upon electronic mail delivery, or delivery by facsimile,
with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated below (if delivered
on a business day during normal business hours where such notice is to be received), or the first business day following such
delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on
the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or
upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If
to the Borrower, to:

 

HYPERSOLAR,
INC.

10
E. Yanonali, Suite 36

Santa
Barbara, CA 93101

e-mail:
info@hypersolar.com

 

If
to the Holder:

 

CROWN
BRIDGE PARTNERS, LLC

1173a
2nd Avenue, Suite 126

New
York, NY 10065

e-mail:
Info@CrownBridgeCapital.com

 

    14

     

    

 

4.3 
Amendments. This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and
the Holder. The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument
as originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4 
Assignability. This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit
of the Holder and its successors and assigns. Notwithstanding anything to the contrary herein, the rights, interests or obligations
of the Borrower hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Borrower without
the prior signed written consent of the Holder, which consent may be withheld at the sole discretion of the Holder (any such assignment
or transfer shall be null and void if the Borrower does not obtain the prior signed written consent of the Holder). This Note
or any of the severable rights and obligations inuring to the benefit of or to be performed by Holder hereunder may be assigned
by Holder to a third party, in whole or in part, without the need to obtain the Company’s consent thereto. Each transferee
of this Note must be an “accredited investor” (as defined in Rule 501(a) of the 1933 Act). Notwithstanding anything
in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account or other
lending arrangement.

 

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

 

4.6 
Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Nevada without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Note shall be brought only in the state and/or federal courts of New York City, NY. The parties to this Note hereby irrevocably
waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack
of jurisdiction or venue or based upon forum non conveniens. The Borrower and Holder waive trial by jury. The prevailing
party shall be entitled to recover from the other party its reasonable attorney's fees and costs. In the event that any provision
of this Note or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute
or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law
shall not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives
personal service of process and consents to process being served in any suit, action or proceeding in connection with this Agreement
or any other Transaction Document 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 Agreement 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 law.

 

    15

     

    

 

4.7 
Certain Amounts. Whenever pursuant to this Note the Borrower is required to pay an amount in excess of the outstanding
principal amount (or the portion thereof required to be paid at that time) plus accrued and unpaid interest plus Default Interest
on such interest, the Borrower and the Holder agree that the actual damages to the Holder from the receipt of cash payment on
this Note may be difficult to determine and the amount to be so paid by the Borrower represents stipulated damages and not a penalty
and is intended to compensate the Holder in part for loss of the opportunity to convert this Note and to earn a return from the
sale of shares of Common Stock acquired upon conversion of this Note at a price in excess of the price paid for such shares pursuant
to this Note. The Borrower and the Holder hereby agree that such amount of stipulated damages is not plainly disproportionate
to the possible loss to the Holder from the receipt of a cash payment without the opportunity to convert this Note into shares
of Common Stock.

 

4.8 
Remedies. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that
the remedy at law for a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened
breach by the Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

4.9 
Prepayment. Notwithstanding anything to the contrary contained in this Note, the Borrower may prepay any amount outstanding
under this Note, during the initial 60 calendar day period after the Issue Date of this Note, by making a payment to the Holder
of an amount in cash equal to 120% multiplied the amount that the Borrower is prepaying, subject to the Holder’s prior written
acceptance in Holder’s sole discretion. Notwithstanding anything to the contrary contained in this Note, the Borrower may
prepay any amount outstanding under this Note, during the 61st through 120 calendar day period after the Issue Date
of this Note, by making a payment to the Holder of an amount in cash equal to 135% multiplied the amount that the Borrower is
prepaying, subject to the Holder’s prior written acceptance in Holder’s sole discretion. Notwithstanding anything
to the contrary contained in this Note, the Borrower may prepay any amount outstanding under this Note, during the 121st
through 180 calendar day period after the Issue Date of this Note, by making a payment to the Holder of an amount in cash
equal to 145% multiplied the amount that the Borrower is prepaying, subject to the Holder’s prior written acceptance in
Holder’s sole discretion. The Borrower may not prepay any amount outstanding under this Note after the 180th
calendar day after the Issue Date of this Note.

 

4.10 
Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law
governing usury, the applicable provision shall automatically be revised to equal the maximum rate of interest or other amount
deemed interest permitted under applicable law. The Borrower covenants (to the extent that it may lawfully do so) that it shall
not seek to claim or take advantage of any law that would prohibit or forgive the Borrower from paying all or a portion of the
principal or interest on this Note.

 

    16

     

    

 

4.11 
Reverse Split Penalty. If at any time while this Note is outstanding, the Borrower effectuates a reverse split with respect
to the Common Stock, then a liquidated damages charge of 15% of the outstanding principal balance of this Note at that time, will
be assessed and will become immediately due and payable to the Holder, either in the form of cash payment or as an addition to
the balance of the Note, as determined by mutual agreement of the Borrower and Holder.

 

4.12 
Right of First Refusal. If at any time while this Note is outstanding, the Borrower has a bona fide offer of capital or
financing from any 3rd party, that the Borrower intends to act upon, then the Borrower must first offer such opportunity
to the Holder to provide such capital or financing to the Borrower on the same terms as each respective 3rd party’s
terms. Should the Holder be unwilling or unable to provide such capital or financing to the Borrower within 10 trading days from
Holder’s receipt of written notice of the offer (the “Offer Notice”) from the Borrower, then the Borrower may
obtain such capital or financing from that respective 3rd party upon the exact same terms and conditions offered by
the Borrower to the Holder, which transaction must be completed within 30 days after the date of the Offer Notice. If the Borrower
does not receive the capital or financing from the respective 3rd party within 30 days after the date of the respective
Offer Notice, then the Borrower must again offer the capital or financing opportunity to the Holder as described above, and the
process detailed above shall be repeated. The Offer Notice must be sent via electronic mail to Info@CrownBridgeCapital.com.

 

4.13 
Terms of Future Financings. So long as this Note is outstanding, upon any issuance by the Borrower or any of its subsidiaries
of any security, or amendment to a security that was originally issued before the Issue Date, with any term that the Holder reasonably
believes is more favorable to the holder of such security or with a term in favor of the holder of such security that the Holder
reasonably believes was not similarly provided to the Holder in this Note, then (i) the Borrower shall notify the Holder of such
additional or more favorable term within one (1) business day of the issuance and/or amendment (as applicable) of the respective
security, and (ii) such term, at Holder’s option, shall become a part of the transaction documents with the Holder (regardless
of whether the Borrower complied with the notification provision of this Section 4.13). The types of terms contained in another
security that may be more favorable to the holder of such security include, but are not limited to, terms addressing conversion
discounts, prepayment rate, conversion lookback periods, interest rates, and original issue discounts. If Holder elects to have
the term become a part of the transaction documents with the Holder, then the Borrower shall immediately deliver acknowledgment
of such adjustment in form and substance reasonably satisfactory to the Holder (the “Acknowledgment”) within one (1)
business days of Borrower’s receipt of request from Holder (the “Adjustment Deadline”), provided that Borrower’s
failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement
is not delivered by the Adjustment Deadline, then $1,000.00 per day shall be added to the balance of the Note for each day beyond
the Adjustment Deadline that the Borrower fails to deliver such Acknowledgement.

 

[signature
page to follow]

 

    17

     

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this January 18, 2019.

 

HYPERSOLAR,
INC.

 

	By:	/s/ Timothy Young	 
	Name: 	 Timothy Young	 
	Title:	 Chief Executive Officer	 

 

    18

     

    

 

EXHIBIT
A -- NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert $                            principal amount of the Note (defined below) into that number of shares of Common
Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of HYPERSOLAR, INC.,
a Nevada corporation (the “Borrower”) according to the conditions of the convertible note of the Borrower dated as
of January 18, 2019 (the “Note”), as of the date written below. No fee will be charged to the Holder for any conversion,
except for transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

		☐	The
Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the undersigned
or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).

 

Name
of DTC Prime Broker:

Account
Number:

 

		☐	The
undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock set
forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately below
or, if additional space is necessary, on an attachment hereto:

 

CROWN
BRIDGE PARTNERS, LLC

1173a
2nd Avenue, Suite 126

New York, NY 10065

e-mail:
Info@CrownBridgeCapital.com

 

	 	Date of Conversion:	______________	 
	 	Applicable Conversion Price:	$_____________	 
	 	Number of Shares of Common Stock to be Issued Pursuant to Conversion of the Notes:	______________	 
	 	Amount of Principal Balance Due remaining Under the Note after this conversion:	______________	 
	 	 	 	 
	 	CROWN BRIDGE PARTNERS, LLC	 	 
	 	 	 	 
	 	By: ____________________________	 	 
	 	Name:  __________________________	 	 
	 	Title: ___________________________	 	 
	 	Date: ___________________________	 	 

 

 

19Exhibit 10.2

 

 

NEITHER THIS NOTE NOR
THE SECURITIES THAT MAY BE ISSUED BY THE COMPANY UPON CONVERSION HEREOF (COLLECTIVELY, THE “SECURITIES”) HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THE SECURITIES NOR ANY INTEREST OR PARTICIPATION THEREIN MAY BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED:
(i) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE 1933 ACT, OR APPLICABLE STATE SECURITIES
LAWS; OR (ii) IN THE ABSENCE OF AN OPINION OF COUNSEL, IN A FORM ACCEPTABLE TO THE ISSUER, THAT REGISTRATION IS NOT REQUIRED UNDER
THE 1933 ACT OR; (iii) UNLESS SOLD, TRANSFERRED OR ASSIGNED PURSUANT TO RULE 144 UNDER THE 1933 ACT.

 

10%
CONVERTIBLE PROMISSORY NOTE

 

Maturity
Date of January 31, 2020 *the “Maturity Date”

 

$80,000
January 31, 2019 *the “Issuance Date”

 

FOR
VALUE RECEIVED, Hypersolar, Inc., a Nevada Corporation (the “Company”)
doing business in Santa Barbara, hereby promises to pay to the order of JSJ Investments Inc., an accredited investor and Texas
Corporation, or its assigns (the “Holder”), the principal
amount of Eighty Thousand Dollars ($80,000) (“Note”),
on demand of the Holder at any time on or after January 31, 2020 (the “Maturity
Date”), and to pay interest on the unpaid principal balance hereof at the rate of Ten Percent (10%) per annum (the
“Interest Rate”) commencing on the date hereof (the
“Issuance Date”).

 

		1.	Payments
                                         of Principal and Interest.

 

		a.	Pre-Payment
                                         and Payment of Principal and Interest. The Company may pay this Note in full,
                                         together with any and all accrued and unpaid interest, plus any applicable pre-payment
                                         premium set forth herein and subject to the terms of this Section 1.a, at any time on
                                         or prior to the date which occurs 180 days after the Issuance Date hereof (the “Prepayment
                                         Date”). In the event the Note is not prepaid in full on or before the Prepayment
                                         Date, it shall be deemed a “Pre-Payment Default” hereunder. Until the Ninetieth
                                         (90th) day after the Issuance Date the Company may pay the principal at a cash redemption
                                         premium of 130%, in addition to outstanding interest, without the Holder’s consent;
                                         from the 91st day to the One Hundred and Twentieth (120th) day after the Issuance Date,
                                         the Company may pay the principal at a cash redemption premium of 135%, in addition to
                                         outstanding interest, without the Holder’s consent; from the 121st day to the Prepayment
                                         Date, the Company may pay the principal at a cash redemption premium of 145%, in addition
                                         to outstanding interest, without the Holder’s consent. After the Prepayment Date
                                         up to the Maturity Date this Note shall have a cash redemption premium of 150% of the
                                         then outstanding principal amount of the Note, plus accrued interest and Default Interest,
                                         if any, which may only be paid by the Company upon Holder’s prior written consent.
                                         At any time on or after the Maturity Date, the Company may repay the then outstanding
                                         principal plus accrued interest and Default Interest (defined below), if any, to the
                                         Holder.

 

		b.	Demand
                                         of Repayment. The principal and interest balance of this Note shall be paid to
                                         the Holder hereof on demand by the Holder at any time on or after the Maturity Date.
                                         The Default Amount (defined herein), if applicable, shall be paid to Holder hereof on
                                         demand by the Holder at any time such Default Amount becomes due and payable to Holder.
                                         The Holder may, by written notice to the Company at least five (5) days before the Maturity
                                         Date (as may have been previously extended), extend the Maturity Date to up to one (1)
                                         year following the date of the original Maturity Date hereunder.

 

		c.	Interest.
                                         This Note shall bear interest (“Interest”)
                                         at the rate of Ten Percent (10%) per annum from the Issuance Date until the same is paid,
                                         or otherwise converted in accordance with Section 2 below, in full and the Holder, at
                                         the Holder’s sole discretion, may include any accrued but unpaid Interest in the
                                         Conversion Amount. Interest shall commence accruing on the Issuance Date, shall be computed
                                         on the basis of a 365-day year and the actual number of days elapsed and shall accrue
                                         daily and, after the Maturity Date, compound quarterly. Upon an Event of Default, as
                                         defined in Section 10 below, the Interest Rate shall increase to Eighteen Percent (18%)
                                         per annum for so long as the Event of Default is continuing (“Default
                                         Interest”).

 

		d.	General
                                         Payment Provisions. This Note shall be paid in lawful money of the United States
                                         of America by check or wire transfer to such account as the Holder may from time to time
                                         designate by written notice to the Company in accordance with the provisions of this
                                         Note. Whenever any amount expressed to be due by the terms of this Note is due on any
                                         day which is not a Business Day (as defined below), the same shall instead be due on
                                         the next succeeding day which is a Business Day and, in the case of any interest payment
                                         date which is not the date on which this Note is paid in full, the extension of the due
                                         date thereof shall not be taken into account for purposes of determining the amount of
                                         interest due on such date. For purposes of this Note, “Business
                                         Day” shall mean any day other than a Saturday, Sunday or a day on which
                                         commercial banks in the State of Texas are authorized or required by law or executive
                                         order to remain closed.

 

    1 

     

    

  

 

		2.	Conversion
                                         of Note. At any time after the Pre-payment Date, the Conversion Amount (see Paragraph
                                         2(a)(i)) of this Note shall be convertible into shares of the Company’s common
                                         stock (the “Common Stock”)
                                         according to the terms and conditions set forth in this Paragraph 2.

 

		a.	Certain
                                         Defined Terms. For purposes of this Note, the following terms shall have the following
                                         meanings:

 

		i.	“Conversion
                                         Amount” means the sum of (a) the principal amount of this Note to be converted
                                         with respect to which this determination is being made, (b) Interest; and (c) Default
                                         Interest, if any, if so included at the Holder’s sole discretion.

 

		ii.	“Conversion
                                         Price” means a 39% discount to the average of the two lowest trading prices
                                         during the previous fifteen (15) trading days to the date of a Conversion Notice; (subject
                                         to equitable adjustments for stock splits, stock dividends or rights offerings by the
                                         Company relating to the Company’s securities or the securities of any subsidiary
                                         of the Company, combinations, recapitalization, reclassifications, extraordinary distributions
                                         and similar events).

 

		iii.	“Person”
                                         means an individual, a limited liability company, a partnership, a joint venture, a corporation,
                                         a trust, an unincorporated organization and a government or any department or agency
                                         thereof.

 

		iv.	“Shares”
                                         means the Shares of the Common Stock of the Company into which any balance on this Note
                                         may be converted upon submission of a “Conversion
                                         Notice” to the Company substantially in the form attached hereto as Exhibit
                                         1.

 

		b.	Holder’s
                                         Conversion Rights. At any time after the Pre-payment Date, the Holder shall be
                                         entitled to convert all of the outstanding and unpaid principal and accrued interest
                                         of this Note into fully paid and non-assessable shares of Common Stock in accordance
                                         with the stated Conversion Price. The Holder shall not be entitled to convert on a Conversion
                                         Date that amount of the Note in connection with that number of shares of Common Stock
                                         which would be in excess of the sum of the number of shares of Common Stock issuable
                                         upon the conversion of the Note with respect to which the determination of this provision
                                         is being made on a Conversion Date, which would result in beneficial ownership by the
                                         Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock
                                         of the Company on such Conversion Date.  For the purposes of the provision to the
                                         immediately preceding sentence, beneficial ownership shall be determined in accordance
                                         with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation
                                         13d-3 thereunder.  Subject to the foregoing, the Holder shall not be limited to
                                         aggregate conversions of 4.99% (“Conversion Limitation 1”).  The Holder
                                         shall have the authority to determine whether the restriction contained in this Section
                                         2(b) will limit any conversion hereunder, and accordingly, the Holder may waive the
                                         conversion limitation described in this Section 2(b), in whole or in part, upon
                                         and effective after 61 days prior written notice to the Company to increase or decrease
                                         such percentage to any other amount as determined by Holder in its sole discretion (“Conversion
                                         Limitation 2”). If in the case that the Company’s Common Stock is “chilled”
                                         for deposit into the DTC system and only eligible for clearing deposit, then an additional
                                         15% discount to the Conversion Price shall apply for all future conversions under the
                                         Note while the “chill” is in effect. For the avoidance of doubt, with reference
                                         to section 2(a)ii of this note, when the “chill” is in effect the conversion
                                         price will increase from a 39% discount to a 50% discount to the lowest trading price
                                         during the previous (20) days to the date of a Conversion Notice. To the extent the Conversion
                                         Price of the Company’s Common Stock closes below the par value per share, the Company
                                         will take all steps necessary to solicit the consent of the stockholders to reduce the
                                         par value to the lowest value possible under law. The Company agrees to honor all conversions
                                         submitted pending this adjustment unless the Holder, in its sole and absolute discretion
                                         elects instead to set the Conversion Price to par value for such conversion(s) and the
                                         conversion amount for such conversion(s) shall be increased to include Additional Principal,
                                         where “Additional Principal” means such additional amount to be added to
                                         the conversion amount to the extent necessary to cause the number of Common Stock issuable
                                         upon such conversion(s) to equal the same number of Common Stock as would have been issued
                                         had the Conversion Price not been set to par value in the Holder’s sole and absolute
                                         discretion.

 

		c.	Fractional
                                         Shares. The Company shall not issue any fraction of a share of Common Stock upon
                                         any conversion; if such issuance would result in the issuance of a fraction of a share
                                         of Common Stock, the Company shall round such fraction of a share of Common Stock up
                                         to the nearest whole share except in the event that rounding up would violate the conversion
                                         limitation set forth in section 2(b) above.

 

		d.	Conversion
                                         Amount. The Conversion Amount shall be converted pursuant to Rule 144(b)(1)(ii)
                                         and Rule 144(d)(1)(ii) as promulgated by the Securities and Exchange Commission under
                                         the Securities Act of 1933, as amended, into unrestricted shares at the Conversion Price.

 

		e.	Mechanics
                                         of Conversion. The conversion of this Note shall be conducted in the following
                                         manner:

 

		i.	Holder’s
                                         Conversion Requirements. To convert this Note into shares of Common Stock on any
                                         date set forth in the Conversion Notice by the Holder (the “Conversion
                                         Date”), the Holder shall transmit by email, facsimile or otherwise deliver,
                                         for receipt on or prior to 11:59 p.m., Eastern Time, on such date or on the next business
                                         day, a copy of a fully executed notice of conversion in the form attached hereto as Exhibit
                                         1 to the Company.

  

    2 

     

    

 

 

		ii.	Company’s
                                         Response. Upon receipt by the Company of a copy of a Conversion Notice, the Company
                                         shall as soon as practicable, but in no event later than one (1) Business Day after receipt
                                         of such Conversion Notice, send, via email, facsimile or overnight courier, a confirmation
                                         of receipt of such Conversion Notice to such Holder indicating that the Company will
                                         process such Conversion Notice in accordance with the terms herein. Within two (2) Business
                                         Days after the date the Conversion Notice is delivered, the Company shall have issued
                                         and electronically transferred the shares to the Broker indicated in the Conversion Notice;
                                         should the Company be unable to transfer the shares electronically, it shall, within
                                         two (2) Business Days after the date the Conversion Notice was delivered, have surrendered
                                         to an overnight courier for delivery the next day to the address as specified in the
                                         Conversion Notice, a certificate, registered in the name of the Holder, for the number
                                         of shares of Common Stock to which the Holder shall be entitled.

 

		iii.	Record
                                         Holder. The person or persons entitled to receive the shares of Common Stock issuable
                                         upon a conversion of this Note shall be treated for all purposes as the record holder
                                         or holders of such shares of Common Stock on the Conversion Date.

 

		iv.	Timely
                                         Response by Company. Upon receipt by Company of a Conversion Notice, Company shall
                                         respond within one business day to Holder confirming the details of the Conversion, and
                                         provide within two business days the Shares requested in the Conversion Notice.

 

		v.	Liquidated
                                         Damages for Delinquent Response. If the Company fails to deliver for whatever
                                         reason (including any neglect or failure by, e.g., the Company, its counsel or
                                         the transfer agent) to Holder the Shares as requested in a Conversion Notice within three
                                         (3) business days of the Conversion Date, the Company shall be deemed in “Default
                                         of Conversion.” Beginning on the fourth (4th) business day after
                                         the date of the Conversion Notice, after the Company is deemed in Default of Conversion,
                                         there shall accrue liquidated damages (the “Conversion
                                         Damages”) of $2,000 per day for each day after the third business day until
                                         delivery of the Shares is made, and such penalty will be added to the Note being converted
                                         (under the Company’s and Holder’s expectation and understanding that any
                                         penalty amounts will tack back to the Issuance Date of the Note). The Parties agree that,
                                         at the time of drafting of this Note, the Holder’s damages as to the delinquent
                                         response are incapable or difficult to estimate and that the liquidated damages called
                                         for is a reasonable forecast of just compensation.

 

		vi.	Liquidated
                                         Damages for Inability to Issue Shares. If the Company fails to deliver Shares
                                         requested by a Conversion Notice due to an exhaustion of authorized and issuable common
                                         stock such that the Company must increase the number of shares of authorized Common Stock
                                         before the Shares requested may be issued to the Holder, the discount set forth in the
                                         Conversion Price will be increased by 5 percentage points (i.e. from 39% to 44%) for
                                         the Conversion Notice in question and all future Conversion Notices until the outstanding
                                         principal and interest of the Note is converted or paid in full. These liquidated damages
                                         shall not render the penalties prescribed by Paragraph 2(e)(v) void, and shall be applied
                                         in conjunction with Paragraph 2(e)(v) unless otherwise agreed to in writing by the Holder.
                                         The Parties agree that, at the time of drafting of this Note, the Holder’s damages
                                         as to the inability to issue shares are incapable or difficult to estimate and that the
                                         liquidated damages called for is a reasonable forecast of just compensation.

 

		vii.	Rescindment
                                         of Conversion Notice. If: (i) the Company fails to respond to Holder within one
                                         business day from the date of delivery of a Conversion Notice confirming the details
                                         of the Conversion, (ii) the Company fails to provide the Shares requested in the Conversion
                                         Notice within three business days from the date of the delivery of the Conversion Notice,
                                         (iii) the Holder is unable to procure a legal opinion required to have the Shares issued
                                         unrestricted and/or deposited to sell for any reason related to the Company’s standing
                                         with the SEC or FINRA, or any action or inaction by the Company, (iv) the Holder is unable
                                         to deposit the Shares requested in the Conversion Notice for any reason related to the
                                         Company’s standing with the SEC or FINRA, or any action or inaction by the Company, (v)
                                         if the Holder is informed that the Company does not have the authorized and issuable
                                         Shares available to satisfy the Conversion, or (vi) if OTC Markets changes the Company’s
                                         designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’
                                         (Skull and Crossbones), or ‘OTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Sign)
                                         on the day of or any day after the date of the Conversion Notice, the Holder maintains
                                         the option and sole discretion to rescind the Conversion Notice ("Rescindment")
                                         by delivering a notice of rescindment to the Company in the same manner that a Conversion
                                         Notice is required to be delivered to the Company pursuant to the terms of this Note.

 

		viii.	Transfer
                                         Agent Fees and Legal Fees. The issuance of the certificates shall be without charge
                                         or expense to the Holder. The Company shall pay any and all Transfer Agent fees, legal
                                         fees, and advisory fees required for execution of this Note and processing of any Notice
                                         of Conversion, including but not limited to the cost of obtaining a legal opinion with
                                         regard to the Conversion. The Holder will deduct $2,000 from the principal payment of
                                         the Note solely to cover the cost of obtaining any and all legal opinions required to
                                         obtain the Shares requested in any given Conversion Notice. These fees do not make provision
                                         for or suffice to defray any legal fees incurred in collection or enforcement of the
                                         Note as described in Paragraph 12. All expenses incurred by Holder, for the issuance
                                         and clearing of the Common Stock into which this Note is convertible into, shall immediately
                                         and automatically be added to the balance of the Note at such time as the expenses are
                                         incurred by Holder.

 

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		ix.	Conversion
                                         Right Unconditional. If the Holder shall provide a Notice of Conversion as provided
                                         herein, the Company’s obligations to deliver Common Stock shall be absolute and
                                         unconditional, irrespective of any claim of setoff, counterclaim, recoupment, or alleged
                                         breach by the Holder of any obligation to the Company.

 

		3.	Other
                                         Rights of Holder: Reorganization, Reclassification, Consolidation, Merger or Sale.
                                         Any recapitalization, reorganization, reclassification, consolidation, merger, sale of
                                         all or substantially all of the Company’s assets to another Person or other transaction
                                         which is effected in such a way that holders of Common Stock are entitled to receive
                                         (either directly or upon subsequent liquidation) stock, securities, cash or other assets
                                         with respect to or in exchange for Common Stock is referred to herein as “Organic
                                         Change.” Prior to the consummation of any (i) Organic Change or (ii) other
                                         Organic Change following which the Company is not a surviving entity, the Company will
                                         secure from the Person purchasing such assets or the successor resulting from such Organic
                                         Change (in each case, the “Acquiring
                                         Entity”) a written agreement (in form and substance reasonably satisfactory
                                         to the Holder) to deliver to Holder in exchange for this Note, a security of the Acquiring
                                         Entity evidenced by a written instrument substantially similar in form and substance
                                         to this Note, and reasonably satisfactory to the Holder. Prior to the consummation of
                                         any other Organic Change, the Company shall make appropriate provision (in form and substance
                                         reasonably satisfactory to the Holder) to ensure that the Holder will thereafter have
                                         the right to acquire and receive in lieu of or in addition to (as the case may be) the
                                         shares of Common Stock immediately theretofore acquirable and receivable upon the conversion
                                         of the Note, such shares of stock, securities, cash or other assets that would have been
                                         issued or payable in such Organic Change with respect to or in exchange for the number
                                         of shares of Common Stock which would have been acquirable and receivable upon the conversion
                                         of the Note as of the date of such Organic Change (without taking into account any limitations
                                         or restrictions on the convertibility of the Note set forth in Section 2(b) or otherwise).
                                         All provisions of this Note must be included to the satisfaction of Holder in any new
                                         Note created pursuant to this section.

 

		a.	Adjustment
                                         Due to Distribution. If the Company shall declare or make any distribution of
                                         its assets (or rights to acquire its assets) to holders of Common Stock as a dividend,
                                         stock repurchase, by way of return of capital or otherwise (including any dividend or
                                         distribution to the Company’s shareholders in cash or shares (or rights to acquire
                                         shares) of capital stock of a subsidiary (i.e., a spin-off)) (a “Distribution”),
                                         then the Holder of this Note shall be entitled, upon any conversion of this Note after
                                         the date of record for determining shareholders entitled to such Distribution, to receive
                                         the amount of such assets which would have been payable to the Holder with respect to
                                         the shares of Common Stock issuable upon such conversion had such Holder been the holder
                                         of such shares of Common Stock on the record date for the determination of shareholders
                                         entitled to such Distribution.

 

		4.	Representations
                                         and Warranties of the Company. In connection with the transactions provided for
                                         herein, the Company hereby represents and warrants to the Holder the following:

 

		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 its incorporation
                                         and has all requisite corporate power and authority to carry on its business as now conducted.
                                         The Company is duly qualified to transact business and is in good standing in each jurisdiction
                                         in which the failure to so qualify would have a material adverse effect on its business
                                         or properties.

 

		b.	Authorization.
                                         All corporate action has been taken on the part of the Company, its officers, directors
                                         and stockholders necessary for the authorization, execution and delivery of this Agreement.
                                         The Company has taken all corporate action required to make all of the obligations of
                                         the Company reflected in the provisions of this Agreement, valid and enforceable obligations.
                                         The shares of capital stock issuable upon conversion of the Note have been authorized
                                         or will be authorized prior to the issuance of such shares.

 

		c.	Fiduciary
                                         Obligations. The Company hereby represents that it intends to use the proceeds
                                         of the Note primarily for the operations of its business and not for any personal, family,
                                         or household purpose. The Company hereby represents that its board of directors, in the
                                         exercise of its fiduciary duty, has approved the execution of this Agreement based upon
                                         a reasonable belief that the proceeds of the Note provided for herein is appropriate
                                         for the Company after reasonable inquiry concerning its financial objectives and financial
                                         situation.

 

		5.	Covenants
                                         of the Company.

 

		a.	So long as the Company shall have
                                         any obligations under this Note, the Company shall not without the Holder’s prior
                                         written consent pay, declare or set apart for such payment any dividend or other distribution
                                         (whether in cash, property, or other securities) on shares of capital stock solely in
                                         the form of additional shares of Common Stock

 

		b.	So long as the Company shall have
                                         any obligations under this Note, the Company shall not without the Holder’s prior
                                         written consent sell, lease, or otherwise dispose of a significant portion of its assets
                                         outside the ordinary course of business. Any consent to the disposition of any assets
                                         may be conditioned upon a specified use of the proceeds thereof.

 

		6.	Reservation
                                         of Shares. The Company shall at all times, so long as any principal amount of
                                         the Note is outstanding, reserve and keep available out of its authorized and unissued
                                         shares of Common Stock, solely for the purpose of effecting the conversion of the Note,
                                         six times the number of shares of Common Stock as shall at all times be sufficient to
                                         effect the conversion of all of the principal amount, plus Interest and Default Interest,
                                         if any, of the Note then outstanding (“Share
                                         Reserve”), unless the Holder stipulates otherwise in the “Irrevocable
                                         Letter of Instructions to the Transfer Agent.” So long as this Note is outstanding,
                                         upon written request of the Holder or via telephonic communication, the Company’s
                                         Transfer Agent shall furnish to the Holder the then-current number of common shares issued
                                         and outstanding, the then-current number of common shares authorized, the then-current
                                         number of unrestricted shares, and the then-current number of shares reserved for third
                                         parties.

 

    4 

     

    

  

 

 

 

		7.	Voting
                                         Rights. The Holder of this Note shall have no voting rights as a note holder,
                                         except as required by law, however, upon the conversion of any portion of this Note into
                                         Common Stock, Holder shall have the same voting rights as all other Common Stock holders
                                         with respect to such shares of Common Stock then owned by Holder.

 

		8.	Reissuance
                                         of Note. In the event of a conversion or redemption pursuant to this Note of less
                                         than all of the Conversion Amount represented by this Note, the Company shall promptly
                                         cause to be issued and delivered to the Holder, upon tender by the Holder of the Note
                                         converted or redeemed, a new note of like tenor representing the remaining principal
                                         amount of this Note which has not been so converted or redeemed and which is in substantially
                                         the same form as this Note, as set forth above.

 

		9.	Default
                                         and Remedies.

 

		a.	Event
                                         of Default. For purposes of this Note, an “Event
                                         of Default” shall occur upon:

 

		i.	the Company’s default in
                                         the payment of the outstanding principal, Interest or Default Interest of this Note when
                                         due, whether at Maturity, acceleration or otherwise;

 

		ii.	the occurrence of a Default
                                         of Conversion as set forth in Section 2(e)(v);

 

		iii.	the failure by the Company
                                         for ten (10) days after notice to it to comply with any material provision of this Note
                                         not included in this Section 10(a);

 

		iv.	the Company’s breach of
                                         any covenants, warranties, or representations made by the Company herein;

 

		v.	any of the information in the
                                         DDF is false or misleading in any material respect;

 

		vi.	the default by the Company in
                                         any Other Agreement entered into by and between the Company and Holder, for purposes
                                         hereof “Other Agreement” shall mean, collectively, all agreements and instruments
                                         between, among or by: (1) the Company, and, or for the benefit of, (2) the Holder and
                                         any affiliate of the Holder, including without limitation, promissory notes;

 

		vii.	the cessation of operations
                                         of the Company or a material subsidiary;

 

		viii.	the Company pursuant to or
                                         within the meaning of any Bankruptcy Law; (a) commences a voluntary case; (b) consents
                                         to the entry of an order for relief against it in an involuntary case; (c) consents to
                                         the appointment of a Custodian of it or for all or substantially all of its property;
                                         (d) makes a general assignment for the benefit of its creditors; or (e) admits in writing
                                         that it is generally unable to pay its debts as the same become due;

 

		ix.	court of competent jurisdiction
                                         entering an order or decree under any Bankruptcy Law that: (a) is for relief against
                                         the Company in an involuntary case; (b) appoints a Custodian of the Company or for all
                                         or substantially all of its property; or (c) orders the liquidation of the Company or
                                         any subsidiary, and the order or decree remains unstayed and in effect for thirty (30)
                                         days;

 

		x.	the Company files a Form 15 with
                                         the SEC;

 

		xi.	the Company’s failure
                                         to timely file all reports required to be filed by it with the Securities and Exchange
                                         Commission;

 

		xii.	the Company’s failure
                                         to timely file all reports required to be filed by it with OTC Markets to remain a “Current
                                         Information” designated company;

 

		xiii.	the Company’s Common
                                         Stock is reported as “No Inside” by OTC Markets at any time while any principal,
                                         Interest or Default Interest under the Note remains outstanding;

 

		xiv.	the Company’s failure
                                         to maintain the required Share Reserve pursuant to the terms of the Irrevocable Letter
                                         of Instructions to the Transfer Agent;

 

    5 

     

    

  

 

		xv.	the Company directs its transfer
                                         agent not to transfer, or delays, impairs, or hinders its transfer agent in transferring
                                         or issuing (electronically or in certificated form) any certificate for Shares of Common
                                         Stock to be issued to the Holder upon conversion of or otherwise pursuant to this Note
                                         as and when required by this Note, or fails to remove (or directs its transfer agent
                                         not to remove or impairs, delays and/or hinders its transfer agent from removing) any
                                         restrictive legend (or to withdraw and stop transfer instructions) on any certificate
                                         for any Shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant
                                         to this Note as and when required by this Note (or makes any written announcement, statement
                                         or threat that it does not intend to honor its obligations pursuant to a Conversion Notice
                                         submitted by the Holder) and any such failure shall continue uncured for three (3) Business
                                         Days after the Conversion Notice has been delivered to the Company by Holder;

 

		xvi.	the Company’s failure
                                         to remain current in its billing obligations with its transfer agent and such delinquency
                                         causes the transfer agent to refuse to issue Shares to Holder pursuant to a Conversion
                                         Notice;

 

		xvii.	the Company effectuates a
                                         reverse split of its Common Stock and fails to provide twenty (20) days prior written
                                         notice to Holder of its intention to do so; or

  

		xviii.	OTC Markets changes the Company's
                                         designation to 'No Information' (Stop Sign), 'Caveat Emptor' (Skull and Crossbones),
                                         or 'OTC', 'Other OTC' or 'Grey Market' (Exclamation Mark Sign).

 

		xix.	"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 Securities Exchange Act of 1934)
                                         of effective control (whether through legal or beneficial ownership of capital stock
                                         of the Company, by contract or otherwise) of in excess of 40% of the voting securities
                                         of the Company, (b) the Company merges into or consolidates with any other Person, as
                                         that term is defined in the Securities Act of 1933, as amended, 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 own less than 60% of
                                         the aggregate voting power of the Company or the successor entity of such transaction,
                                         (c) the Company sells or transfers all or substantially all of its assets to another
                                         Person and the stockholders of the Company immediately prior to such transaction own
                                         less than 60% of the aggregate voting power of the acquiring entity immediately after
                                         the transaction, (d) a replacement at one time or within a three year period of more
                                         than one-half of the members of the Board of Directors which is not approved by a majority
                                         of those individuals who are members of the Board of Directors on the Issuance Date (or
                                         by those individuals who are serving as members of the Board of Directors on any date
                                         whose nomination to the Board of Directors was approved by a majority of the members
                                         of the Board of Directors who are members on the date hereof), or (e) the execution by
                                         the Company of an agreement to which the Company  is a party or by which it is bound.

 

		xx.	Altering the conversion terms
                                         of any notes that are currently outstanding.

  

		xxi.	Notwithstanding
                                         anything to the contrary contained in this Note or the other related or companion documents,
                                         a breach or default by the Company of any covenant or other term or condition contained
                                         in any of other agreement entered into by the Company, after the passage of all applicable
                                         notice and cure or grace periods therein.

 

The Term “Bankruptcy
Law” means Title 11, U.S. Code, or any similar Federal or State Law for the relief of debtors. The term “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

		b.	Remedies.
                                         If an Event of Default occurs, the Holder may in its sole discretion determine to request
                                         immediate repayment of all or any portion of the Note that remains outstanding; at such
                                         time the Company will be required to pay the Holder the Default Amount (defined herein)
                                         in cash. For purposes hereof, the “Default
                                         Amount” shall mean: the product of (A) the then outstanding principal amount
                                         of the Note, plus accrued Interest and Default Interest, divided by (B) the Conversion
                                         Price as determined on the Issuance Date, multiplied by (C) the highest price at which
                                         the Common Stock traded at any time between the Issuance Date and the date of the Event
                                         of Default. If the Company fails to pay the Default Amount within five (5) Business Days
                                         of written notice that such amount is due and payable, then Holder shall have the right
                                         at any time, so long as the Company remains in default (and so long and to the extent
                                         there are a sufficient number of authorized but unissued shares), to require the Company,
                                         upon written notice, to immediately issue, in lieu of the Default Amount, the number
                                         of shares of Common Stock of the Company equal to the Default Amount divided by the Conversion
                                         Price then in effect.

 

		c.	If at any time after the Issuance
                                         Date, the Company is not DWAC Eligible, then an additional 5% discount shall be factored
                                         into the Conversion Price. If at any time after the Issuance Date, the Common Stock is
                                         not DTC Eligible, then an additional 5% discount shall be factored into the Conversion
                                         Price. In addition, if any Event of Default occurs after the Issuance Date, then an additional
                                         5% discount shall be factored into the Conversion Price for each of the first three (3)
                                         Events of Default that occur after the Issuance Date (for the avoidance of doubt, each
                                         occurrence of any Event of Default shall be deemed to be a separate occurrence for purposes
                                         of the foregoing reductions, even if the same Event of Default occurs three (3) separate
                                         times). For example, if there are three (3) separate occurrences of an Event of Default,
                                         then an additional 5% discount shall be factored into the Conversion Price for the first
                                         such occurrence, and so on for each of the second and third occurrences of such Event
                                         of Default.

 

    6 

     

    

 

 

		10.	Vote
                                         to Change the Terms of this Note. This Note and any provision hereof may only
                                         be amended by an instrument in writing signed by the Company and the Holder.

 

		11.	Lost
                                         or Stolen Note. Upon receipt by the Company of evidence satisfactory to the Company
                                         of the loss, theft, destruction or mutilation of this Note, and, in the case of loss,
                                         theft or destruction, of an indemnification undertaking by the Holder to the Company
                                         in a form reasonably acceptable to the Company and, in the case of mutilation, upon surrender
                                         and cancellation of the Note, the Company shall execute and deliver a new Note of like
                                         tenor and date and in substantially the same form as this Note; provided, however, the
                                         Company shall not be obligated to re-issue a Note if the Holder contemporaneously requests
                                         the Company to convert such remaining principal amount, plus accrued Interest and Default
                                         Interest, if any, into Common Stock.

 

		12.	Payment
                                         of Collection, Enforcement and Other Costs. If: (i) this Note is placed in the
                                         hands of an attorney for collection or enforcement or is collected or enforced through
                                         any legal proceeding; or (ii) an attorney is retained to represent the Holder of this
                                         Note in any bankruptcy, reorganization, receivership or other proceedings affecting creditors’
                                         rights and involving a claim under this Note, then the Company shall pay to the Holder
                                         all reasonable attorneys’ fees, costs and expenses incurred in connection therewith,
                                         in addition to all other amounts due hereunder.

 

		13.	Cancellation.
                                         After all principal, accrued Interest and Default Interest, if any, at any time owed
                                         on this Note has been paid in full or otherwise converted in full, this Note shall automatically
                                         be deemed canceled, shall be surrendered to the Company for cancellation and shall not
                                         be reissued.

  

		14.	Waiver
                                         of Notice. To the extent permitted by law, the Company hereby waives demand, notice,
                                         protest and all other demands and notices in connection with the delivery, acceptance,
                                         performance, default or enforcement of this Note.

 

		15.	Governing
                                         Law. This Note shall be construed and enforced in accordance with, and all questions
                                         concerning the construction, validity, interpretation and performance of this Note shall
                                         be governed by, the laws of the State of Texas, without giving effect to provisions thereof
                                         regarding conflict of laws. Each party hereby irrevocably submits to the non-exclusive
                                         jurisdiction of the state and federal courts sitting in Texas for the adjudication of
                                         any dispute hereunder or in connection herewith or with any transaction contemplated
                                         hereby or discussed herein, 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 any such court, that such suit, action or proceeding is brought in an inconvenient
                                         forum or that the venue of such suit, action or proceeding is improper. Each party hereby
                                         irrevocably waives personal service of process and consents to process being served in
                                         any such suit, action or proceeding by sending, through certified mail or overnight courier,
                                         a copy thereof to such party at the address for such notices to it under this Agreement
                                         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 manner permitted by law. EACH
                                         PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY
                                         TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING
                                         OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

		16.	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, at law or in equity (including a decree of specific performance and/or
                                         other injunctive relief), and no remedy contained herein shall be deemed a waiver of
                                         compliance with the provisions giving rise to such remedy and nothing herein shall limit
                                         the Holder’s right to pursue actual 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
                                         thereof and shall not, except as expressly provided herein, be subject to any other obligation
                                         of the Company (or the performance thereof).

  

		17.	Specific
                                         Shall Not Limit General; Construction. No specific provision contained in this
                                         Note shall limit or modify any more general provision contained herein. This Note shall
                                         be deemed to be jointly drafted by the Company and the Holder and shall not be construed
                                         against any person as the drafter hereof.

 

    7 

     

    

 

 

 

		18.	Failure
                                         or Indulgence Not Waiver. No failure or delay on the part of the Holder in the
                                         exercise of any power, right or privilege hereunder shall operate as a waiver thereof,
                                         nor shall any single or partial exercise of any such power, right or privilege preclude
                                         further exercise thereof or of any other right, power or privilege.

 

		19.	Partial
                                         Payment. In the event of partial payment by the Holder, the principal sum due
                                         to the Holder shall be prorated based on the consideration actually paid by the Holder
                                         such that the Company is only required to repay the amount funded and the Company is
                                         not required to repay any unfunded portion of this Note, with the exception of any OID
                                         contemplated herein. 

 

20.Entire
Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties with regard to
the subjects herein. None of the terms of this Agreement can be waived or modified, except by an express agreement signed by all
Parties hereto.

 

		21.	Additional
                                         Representations and Warranties. The Company expressly acknowledges that the Holder,
                                         including but not limited to its officer, directors, employees, agents, and affiliates,
                                         have not made any representation or warranty to it outside the terms of this Agreement.
                                         The Company further acknowledges that there have been no representations or warranties
                                         about future financing or subsequent transactions between the parties.

 

		22.	Notices.
                                         All notices and other communications given or made to the Company pursuant hereto shall
                                         be in writing (including facsimile or similar electronic transmissions) and shall be
                                         deemed effectively given:  (i) upon personal delivery, (ii) when sent by electronic
                                         mail or facsimile, as deemed received by the close of business on the date sent, (iii)
                                         five (5) days after having been sent by registered or certified mail, return receipt
                                         requested, postage prepaid or (iv) one (1) day after deposit with a nationally recognized
                                         overnight courier, specifying next day delivery.  All communications shall be sent
                                         either by email, or fax, or to the email address or facsimile number set forth on the
                                         signature page hereto. The physical address, email address, and phone number provided
                                         on the signature page hereto shall be considered valid pursuant to the above stipulations;
                                         should the Company’s contact information change from that listed on the signature
                                         page, it is incumbent on the Company to inform the Holder.

 

		23.	Severability.
                                         If one or more provisions of this Agreement are held to be unenforceable under applicable
                                         law, such provision shall be excluded from this Agreement and the rest of the Agreement
                                         shall be enforceable in accordance with its terms.

 

		24.	Usury.
                                         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 will not seek to claim or take advantage of any law that would prohibit or forgive
                                         the Company from paying all or a portion of the principal, Interest or Default Interest
                                         on this Note.

 

		25.	Successors
                                         and Assigns. This Agreement shall be binding upon all successors and assigns hereto.
                                         The Company may not assign this Note without the prior written consent of Holder. This
                                         Note and any shares of Common Stock issued upon conversion of this Note may be offered,
                                         sold, assigned or transferred by Holder without the consent of the Company.

 

— SIGNATURE PAGE
TO FOLLOW —

 

    8 

     

    

 

 

 

IN
WITNESS WHEREOF, the Company has caused this Note to be signed by its CEO, on and as of the Issuance Date. 

 

	Hypersolar, Inc.	 
	 	 	 
	Signature:	/s/ Timothy A. Young	 
	 	 	 
	By:	 Timothy A. Young	 
	 	 	 
	Title:	CEO and President	 
	 	 	 
	Address:	10 E. Yanonali, Suite 36,	 
	 	 	 
	 	Santa Barbara, CA 93101	 
	 	 	 
	 	 	 
	 	 	 
	Email:	tyoung@hypersolar.com	 
	 	 	 
	Phone:	805-966-6566	 
	 	 	 
	Facsimile:	 	 
	 	 	 
	JSJ Investments Inc.	 
	 	 	 
	Signature:	 	 

 

Sameer Hirji, President

JSJ Investments Inc.

10830 North Central Expressway, Suite 152

Dallas TX 75231

888-503-2599

    9 

     

    

 

 

 

Exhibit 1

Conversion Notice

 

Reference is made to the 10% Convertible
Note issued by Hypersolar, Inc. (the "Note"), dated January 31, 2019 in the principal amount of $80,000 with 10% interest.
This note currently holds a principal balance of $80,000. The features of conversion stipulate a Conversion Price equal to a 39%
discount to the lowest trading price during the previous fifteen (15) trading days to the date of a Conversion Notice pursuant
to the provisions of Section 2(a)(ii) in the Note.

 

In accordance with and pursuant to the
Note, the undersigned hereby elects to convert $______ of the principal/interest balance of the Note, indicated below into
shares of Common Stock (the "Common Stock"), of the Company, by tendering the Note specified as of the date specified
below.

 

Date of Conversion: __________

 

Please confirm the following information:

 

Conversion Amount: $ ____________________

 

Conversion Price: $ ____________________
( ____ % discount from $ ____________________)

 

Number of Common Stock to be issued: _____________________________________________________________________

 

Current Issued/Outstanding: _______________________________________________________________________________

 

If the Issuer is DWAC eligible, please
issue the Common Stock into which the Note is being converted in the name of the Holder of the Note and transfer the shares electronically
to:

 

[BROKER INFORMATION]

 

Holder Authorization:

 

JSJ Investments Inc.

10830 North Central Expressway, Suite 152 *Do not send certificates to this address

Dallas, TX 75231

888-503-2599

 

Tax ID: 20-2122354

 

Sameer Hirji, President

 

[DATE]

 

[CONTINUED ON NEXT PAGE]

 

    10 

     

    

  

 

 

PLEASE
BE ADVISED, pursuant to Section 2(e)(ii) of the Note, “Upon receipt by the Company of a copy of the Conversion Notice,
the Company shall as soon as practicable, but in no event later than one (1) Business Day after receipt of such Conversion Notice,
SEND, VIA EMAIL, FACSIMILE OR OVERNIGHT COURIER, A CONFIRMATION OF RECEIPT
OF SUCH CONVERSION NOTICE TO SUCH HOLDER INDICATING THAT THE COMPANY WILL PROCESS SUCH CONVERSION NOTICE in accordance
with the terms herein. Within two (2) Business Days after the date of the Conversion Confirmation, the Company shall have issued
and electronically transferred the shares to the Broker indicated in the Conversion Notice; should the Company be unable to transfer
the shares electronically, they shall, within two (2) Business Days after the date of the Conversion Confirmation, have surrendered
to FedEx for delivery the next day to the address as specified in the Conversion Notice, a certificate, registered in the name
of the Holder, for the number of shares of Common Stock to which the Holder shall be entitled.”

 

	Signature:	 
	 	 
	/s/
    Timothy Young	 
	Timothy
    Young	 
	CEO	 
	Hypersolar, Inc.	 

 

 

11

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