Document:

EXHIBIT
10.3

SECURITY
AGREEMENT

 

This
SECURITY AGREEMENT (the “Agreement”), dated and effective as of the 21day of December, 2018, is made by Endonovo
Therapeutics, Inc. (“Debtor”) having a notice address of 6320 Canoga Avenue, 15th Floor, Woodland Hills, CA 91367
in favor of EAGLE EQUITIES, LLC, a Nevada limited liability company, with its address at 91 Shelton Ave, Suite 107, New Haven,
CT 06511 (“Secured Party”).

 

RECITALS

 

WHEREAS,
Debtors and Secured Party have entered into various promissory notes as set forth on the “Schedule of Notes” annexed
hereto (the “Notes”);

 

WHEREAS,
the a Securities Purchase Agreement between the Debtor and the Secured Party provided for a security interest to be granted the
Secured Party in the Collateral, defined below to secure Debtors obligations to the Secured Party under all of the Notes; and

 

WHEREAS,
Debtor has agreed to secure payment of the Notes by granting Secured Party a security interest covering the Collateral, as defined
below;

 

NOW,
THEREFORE, in consideration of the premises and the agreements herein contained, and for other good and valuable consideration,
the receipt and sufficiency of all of which are hereby acknowledged:

 

Debtor
hereby represents, warrants, covenants, grants and agrees as follows:

 

AGREEMENT

 

1.
Incorporation of Recitals; Capitalized Terms. The recitals set forth hereinabove are incorporated herein by this reference.
All capitalized terms not otherwise defined herein have the meanings ascribed to them in the Settlement Agreement. Unless otherwise
defined herein, all terms defined in the UCC have the respective meanings given to those terms in the UCC.

 

2.
Definitions.

 

(a)
“Collateral” has the meaning given to that term in Exhibit 1 hereof.

 

(b)
“Lien” means any mortgage, deed of trust, lien, pledge, security interest or other charge or encumbrance, of
any kind whatsoever, including but not limited to the interest of the lessor or titleholder under any capitalized lease, title
retention contract or similar agreement.

 

(c)
“Obligation” means Debtor’s obligations under the Notes plus all accrued unpaid interest, late charges,
fees and costs thereon together with all advances, extensions, renewals, amendments, modifications, substitutions and changes
in form thereof, all advances made by Secured Party to protect the security hereof, together with interest thereon, and all costs
and expenses incurred in connection with the collection and enforcement of the foregoing including reasonable attorneys’
fees and expenses.

 

(d)
“UCC” means the Uniform Commercial Code as in effect in the State of California from time to time, and any
successor legislation adopted thereby.

 

    	 

    	 

    

 

3.
Security Interest.

 

(a)
Security Interest. Debtor hereby assigns and grants to Secured Party a security interest and continuing lien in all of Debtor’s
right, title and interest in and to all of the Transferred IP and Assets described in Exhibit 1 to this Agreement (“Exhibit
1”), regardless of where located, including all insurance claims and other rights to payment related to the foregoing, and
products of the foregoing and all accessions to, substitutions and replacements for, each of the foregoing (all of the foregoing
described property is referred to herein as the “Collateral”). Said lien is subordinate in all respects to the lien
granted to Rio Grande Neurosciences, Inc. pursuant to an agreement dated as of November 22, 2017 and a lien granted to the holders
of the Debtors Series C Secured Redeemable Preferred Stock.

 

(b)
Debtor hereby authorizes Secured Party to file appropriate UCC or other financing statements, or other documents to perfect its
security interest in the Collateral, together with any and all continuation, amendments and modification filings related thereto
and any other filings or recordings Secured Party deems necessary or appropriate with respect to the Collateral and Secured Party’s
interest therein. Secured Party shall file Exhibit 1 as its description of the Collateral in any such filing.

 

(c)
The security interest granted to Secured Party hereunder shall secure the Obligation.

 

4.
Debtor’s Representations, Warranties, Covenants and Agreements. Debtor hereby represents and warrants to Secured
Party, and covenants and agrees, that:

 

(a)
Debtor is the owner of the Collateral, and no other person or entity other than Rio Grande Neurosciences, Inc. has any right,
title, claim or interest in, against or to the Collateral, other than any right, title or claim which may have been granted or
otherwise attached by written agreement to the junior lienholders provided such right, title or claim is expressly subordinated
in writing to the Obligations and Secured Party’s interest and the identity of the junior lienholders is disclosed to Secured
Party at the time such subordinated right, title or claim arises and the junior lienholders acknowledge such subordinated status.

 

(b)
Upon the filing of UCC-l financing statements in the appropriate filing offices, Secured Party has a third priority perfected
security interest in the Collateral to the extent that a security interest in the Collateral can be perfected by such filing subordinate
only to the liens granted to Rio Grande Neurosciences, Inc. and the holders of the Debtor’s Series C Secured Redeemable
Preferred Stock.

 

(c)
This Agreement (i) has been duly authorized by all necessary corporate action of Debtor, (ii) has been duly executed by Debtor,
and (iii) constitutes the legal, valid and binding obligation of Debtor, enforceable against Debtor in accordance with its terms.

 

(d)
Debtor’s place of business (or, if Debtor has more than one place of business, its principal executive office) is located
at 6320 Canoga Avenue, 15th Floor, Woodland Hills, CA 91367. Debtor’s true legal name is as set forth in the preamble to
this Agreement. Debtor’s jurisdiction of formation is and has been, as set forth in the preamble to this Agreement. Debtor
does not do business under any trade name or fictitious business name. Debtor will notify Secured Party, in writing, within at
least thirty (30) days of any change in its place of business or jurisdiction of formation or the adoption or change of its legal
name, any trade name or fictitious business name, and will upon request of Secured Party, execute or authenticate any additional
financing statements or other certificates or records necessary to reflect any change in its place of business or jurisdiction
of formation or the adoption or change in its legal name, trade names or fictitious business name.

 

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5.
Protection of Collateral by Debtor.

 

(a)
Debtor will not, without the prior written consent of Secured Party (which consent shall not be unreasonably withheld), sell,
transfer or dispose of any Collateral except for sales of inventory in the ordinary course of Debtor’s business, unless
the proceeds of such sale are used to pay down the debt For purposes of this Agreement, granting license or sublicense rights
to any intellectual property included in the Collateral shall not be deemed a sale, transfer or disposition of such Collateral,
unless the agreement of license or sublicense creates in the licensee or sub-licensee rights in the Collateral which are superior
to those of the Debtor. Debtor may encumber the Collateral through junior liens subordinated to the senior lien of the Secured
Party in accordance with Section 4(a) above. Debtor shall, at its own expense, appear in and defend any and all actions and proceedings
which purport to affect title to the Collateral, or any part thereof, or which purport to affect the security interest of Secured
Party therein under this Agreement.

 

(b)
Debtor will keep the Collateral current, collected and/or in good condition and repair, and will not misuse, abuse, allow to deteriorate,
waste or destroy the Collateral or any part thereof, except for ordinary wear and tear resulting from its normal and expected
use in Debtor’s business and will not use or permit any Collateral to be used in violation in any material respect of any
applicable law, rule or regulation, or in violation of any policy of insurance covering the Collateral. Secured Party may examine
and inspect the Collateral at any reasonable time, upon reasonable notice in advance, wherever located. Provided, however, that
if such Collateral comprises or is connected to or surrounded by any trade secret, confidential information or data or other intellectual
property right belonging to Debtor, then Secured Party shall sign such Non-Disclosure Agreement as Debtor may reasonably require
prior to being granted access thereto. Debtor shall perform, observe, and comply in all material respects with all of the material
terms and provisions to be performed, observed or complied with by it under each contract, agreement or obligation relating to
the Collateral to the extent that any non-compliance could reasonably be expected to impair the Debtor’s ownership or control
of the Collateral.

 

(c)
Debtor, in a timely manner, will execute or otherwise authenticate, or obtain, any document or other record, give any notices,
do all other acts, and pay all costs associated with the foregoing, that Secured Party determines is reasonably necessary to protect
the Collateral against rights, claims or interests of third parties, or otherwise to preserve the Collateral as security hereunder.

 

(d)
Debtor shall promptly notify Secured Party of any claim against the Collateral adverse to the interest of Secured Party therein
not mentioned herein.

 

(e)
Debtor shall promptly pay when due all taxes and other governmental charges, and any Liens and all other charges imposed upon
or affecting any Collateral created subsequent to the exercise of the Purchase Option and affecting the Secured Party’s
senior lien.

 

6.
Further Acts of Debtor. Debtor shall, at the request of Secured Party, execute or otherwise authenticate and deliver to
Secured Party any financing statements, financing statement changes and any and all additional instruments, documents and other
records, and Debtor shall perform all actions, that from time to time Secured Party may reasonably deem necessary or desirable
to carry into effect the provisions of this Agreement or to establish or maintain a perfected security interest in the Collateral
having the priority provided for herein or otherwise to protect Secured Party’s interest in the Collateral.

 

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7.
Default; Remedies. Each of the following is an “Event of Default” under this Agreement when continuing ten
(10) business days’ after written notice is delivered to Debtor: (i) default shall be made in the payment of the Obligations,
when due, and not cured following written notice; (ii) the Debtor shall make an assignment for the benefit of its creditors or
shall file or commence or have filed or commenced against it any proceeding for any relief under any bankruptcy or insolvency
law or any law or laws relating to the relief of debtors, readjustment of indebtedness, reorganizations, compositions or extensions,
or a receiver or trustee shall be appointed for the undersigned; (iii) the liquidation, dissolution, merger or consolidation of
Debtor (except where provision is made in any such transaction for the Secured Party to be paid any remaining Principal Amount
and accrued but unpaid Interest thereon in connection with any such transaction); or (iv) the occurrence of an Event of Default
under the Note, THEN, upon the occurrence of any such Event of Default, or upon the Maturity Date, Secured Party at its election,
may declare the entire outstanding balance of Principal Amount and accrued but unpaid Interest, late charges, fees and costs thereon
immediately due and payable, together with all costs of collection, including reasonable attorneys’ fees, or may exercise
upon or enforce its rights in the Collateral, as set forth herein or under applicable law.

 

(a)
If an Event of Default shall occur, then, in each and every such case, Secured Party may at any time thereafter exercise and/or
enforce any of the following rights and remedies at Secured Party’s option:

 

i.
Acceleration. The Obligation shall, at Secured Party’s sole option, become immediately due and payable.

 

ii.
Possession and Collection of the Collateral. At its option: (a) take possession or control of, store, lease, operate, manage,
sell, or instruct any Agent or Broker to sell or otherwise dispose of, all or any part of the Collateral, subject to prior written
notice to any junior lienholders on the Collateral disclosed to Secured Party at the time such junior interest was acquired and
a demand for the Secured Party to be paid on any remaining obligations due under the Designation within ten (10) business days
and, if paid, for Endonovo to retain the Collateral subject to the interests of those junior lienholders; (b) take any reasonable
and lawful action to protect and realize upon its security interest in the Collateral; and (c) in addition to the foregoing, and
not in substitution therefor, exercise any one or more of the rights and remedies exercisable by Secured Party under any other
provision of this Agreement, under the Note, or as provided by applicable law (including, without limitation, the UCC). Debtor
shall, upon Secured Party’s demand, promptly make the Collateral available to Secured Party at a place designated by Secured
Party, which place shall be reasonably convenient to both parties. Secured Party shall not be liable for, nor be prejudiced by,
any loss, depreciation or other damages to the Collateral, unless caused by Secured Party’s gross negligence or willful
or malicious act. Secured Party shall have no duty to take any action to preserve or collect the Collateral.

 

iii.
Any and all remedies. Subject to any applicable notice and cure periods, including any rights of junior lienholders to cure, exercise
any or all rights and remedies provided in this Agreement, by the UCC and/or otherwise available at law or in equity.

 

(b)
Secured Party shall also be entitled to immediate possession of all books and records evidencing any Collateral or pertaining
to chattel paper covered by this Agreement.

 

8.
Secured Party’s Duties. The powers conferred upon Secured Party by this Agreement are solely to protect its interest
in the Collateral and will not impose any duty upon Secured Party to exercise any such powers. Other than all notices expressly
called for under the Settlement Agreement, the Note or this Agreement, Secured Party will be under no duty whatsoever to make
or give any additional presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor,
or other notice or demand in connection with any of the Collateral or the Obligation, or to take any steps necessary to preserve
any rights against prior parties. Secured Party shall be required to give written notice to any junior lienholders or secured
parties against the Collateral disclosed to Secured Party in writing at the time that Debtor grants such interests of any event
of default and potential action against the Collateral, as may be required by applicable law. Secured Party will not be liable
for failure to collect or realize upon any or all of the Secured Indebtedness or Collateral, or for any delay in so doing, nor
will Secured Party be under any duty to take any action whatsoever with regard thereto.

 

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9.
Continuing Agreement. This is a continuing agreement and the grant of a security interest hereunder will remain in full
force and effect and all the rights, powers and remedies of Secured Party hereunder will continue to exist until all indebtedness
owing by Debtor to Secured Party has been paid in full. Once such indebtedness has been paid in full, the Secured Party shall
promptly execute and, if applicable, file all such documents or instruments, and take all such other actions as the Debtor may
reasonably request in order to evidence that no lien or security interest continues to exist favor of Secured Party. And, if requested
to do so upon the Debtor’s entry into any transaction in which the Secured Party is to be repaid in full as part of any
such transaction, the Secured Party shall cooperate in good faith with the Debtor to provide to any other party or parties to
such transaction such information, and to execute any such documents or instruments, as may be reasonably requested by the Debtor
or any such third party in connection with the consummation of such transaction. In such event, the Debtor shall provide to the
Secured Party such non-confidential information concerning such transaction, and such evidence of the payment of proceeds to the
Secured Party upon the consummation thereof, as the Secured Party may request.

 

10.
Preservation of Liability. Neither this Agreement nor the exercise by Secured Party of (or the failure to so exercise)
any right, power or remedy conferred herein or by law will be construed as relieving any person liable on the Obligation from
liability on the Obligation and for any deficiency thereon.

 

11.
Insurance. Debtor does not intend to maintain any insurance coverage for the Collateral, but shall cooperate with Secured
Party to obtain coverage at Secured Party’s sole discretion.

 

12.
No Implied Waivers. No delay or omission on the part of Secured Party in exercising any right or remedy created by, connected
with or provided for in this Agreement or arising from any default by Debtor or by any other person or entity the performance
of whose obligations is secured hereby, shall be construed as or be deemed to be an acquiescence in or a waiver of such default
or a waiver of or limitation upon the right of Secured Party to exercise, at any time and from time to time thereafter, any right
or remedy under this Agreement, provided that until such time as the Secured Party shall have exercised any right in connection
with any default under this Agreement, the Debtor shall be entitled to cure such default as provided for herein and the Secured
Party may not, thereafter, exercise any rights against such prior cured default. No waiver of any breach of any of the covenants
or conditions in this Agreement shall be deemed to be a waiver of or acquiescence in or consent to any previous or subsequent
breach of the same or any other covenant or condition.

 

13.
Entire Agreement. This Agreement, together with each of the Note and Settlement Agreement, contains the entire understanding
and agreement of Debtor and Secured Party with respect to the subject matter hereof. No modification, amendment or waiver of any
provision of this Agreement nor consent to any departure by the Debtor therefrom will be effective unless made in a writing signed
by both parties (provided, however, that a unilateral waiver or consent given by the Secured Party does not have to be signed
by the Debtor), and then such waiver or consent shall be effective only in the specific instance and for the purpose for which
given as recited therein. No notice to or demand on the Debtor in any case will entitle the Debtor to any other or further notice
or demand in connection with the same case, similar or other circumstance. No provision of this Agreement or right of Secured
Party hereunder can be waived, nor shall Debtor be released from its obligations hereunder, except by a writing duly executed
by Secured Party.

 

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14.
Assignment/Transfer of Indebtedness. The Secured Party may at any time assign this Agreement and the Note in whole or in
part, without the prior written consent of the Debtor, in its sole and absolute discretion. Upon a transfer by Secured Party of
all or any portion of the indebtedness secured hereby, Secured Party may transfer therewith all or any portion of the security
interest created hereunder, but Secured Party shall retain all of its rights hereunder with respect to any part of such indebtedness
and any part of its security interest hereunder not so transferred. Debtor cannot assign or transfer any rights or obligations
under this Agreement or in the Collateral to any third party without the prior written consent of Secured Party. Any transfer
by Debtor without Secured Party’s consent shall be an additional Event of Default hereunder.

 

15.
Successors and Assigns. The covenants and agreements herein contained by or on behalf of Debtor will bind Debtor, and Debtor’s
legal representatives, successors and assigns and will inure to the benefit of Secured Party and Secured Party’s successors
and assigns.

 

16.
Term; Binding Effect. This Agreement shall be and remain in full force and effect until the Obligation has been fully performed
and paid. Upon expiration and payment or conversion in full of the Obligation, this Agreement shall automatically terminate and
Debtor shall be permitted to file or cause Secured Party to file one or more UCC termination statements with respect to the Collateral.
Each of the provisions hereof shall be binding upon Debtor and its legal representatives, successors and assigns and shall insure
to the benefit of Secured Party and its legal representatives, successors and assigns.

 

17.
Rules of Construction. Terms used in the singular shall apply to the plural, and vice versa, as the context requires; likewise
masculine, feminine and neuter genders shall be interchangeable as the context requires. The use of the disjunctive term “or”
does not imply an exclusion of the conjunctive, i.e., “or” shall have the same meaning as the expression “and/or.”
“Including” shall not be limiting. Headings and section titles are for convenience of reference only and are not substantive
parts of this Agreement, and shall not be given effect in construing the provisions of this Agreement. Each reference to the Note
shall mean the Note as from time to time extended, modified, renewed, restated, reaffirmed, supplemented or amended.

 

18.
Invalidity and Severability. If any provision of this Agreement, or the application thereof to any person or circumstance,
shall, to any extent, be invalid or unenforceable, such invalidity or unenforceability will not affect any other provision hereof,
the remainder of this Agreement, or the application of such term to persons or circumstances other than those as to which it is
invalid or unenforceable, shall not be affected thereby, and each term of this Agreement shall be valid and enforceable to the
fullest extent permitted by law.

 

19.
Power of Attorney. Debtor appoints Secured Party and any officer thereof as Debtor’s attorney in fact with full power
in Debtor’s name and behalf to do every act which Debtor is obligated to do or may be required to do hereunder; however,
nothing in this paragraph shall be construed to obligate Secured Party to take any action hereunder nor shall Secured Party be
liable to Debtor for failure to take any action hereunder. This appointment shall be deemed a power coupled with an interest and
shall not be terminable as long as the Obligation is outstanding and shall not terminate on the disability or incompetence of
Debtor.

 

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20.
Counterparts; Facsimiles and Electronic Scans. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute but one and the same instrument. A facsimile or electronic
scan of an original signature shall be deemed for all purposes to be an original signature on the document so transmitted.

 

21.
Governing Law and Jurisdiction. This Agreement shall be deemed to be executed and delivered in the State of California.
Each of Debtor and Secured Party: (i) agrees that this Agreement shall be construed according to and governed by the laws of the
State of California, without regard to principles of conflicts of law (except to the extent governed by the UCC); (ii) consents
to personal jurisdiction in the State of California in the state and United States courts in the City of Los Angeles, California;
and (iii) consents to venue in the City of Los Angeles, California, for all actions and proceedings with respect to this Agreement
and the Note, and waives any right it may have to assert the doctrine of forum non conveniens or to object to venue to the extent
any proceeding is brought in accordance with this section.

 

IN
WITNESS WHEREOF, the undersigned have executed this Security Agreement as of the day and year first hereinabove written.

 

	DEBTOR:
    	 	SECURED
    PARTY:
	 	 	 	 
	ENDONOVO
    THERAPEUTICS, INC., a Delaware corporation	 	EAGLE
    EQUITIES, LLC, a Nevada limited liability company
	 	 	 	 	 
	By:
    	/s/
    Alan Collier	 	By: 	/s/
    Yakov Borenstein
	 	Alan
    Collier	 	 	Yakov
    Borenstein,
	 	Chief
    Executive Officer	 	 	Manager

 

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For
Schedules Refer to Schedules to Security Agreement filed with Current Report on Form 8-K dated December 22, 2017 which are incorporated
by reference hereinEXHIBIT
10.4

 

Except
as permitted by Section 8 hereof, no transfer shall be made at any time unless the Company shall have been supplied with evidence
reasonably satisfactory to it that such transfer is not in violation of the Securities Act of 1933, as amended (the “Act”).

 

ENDONOVO
THERAPEUTICS, INC.

 

WARRANT

 

TO
PURCHASE

 

1,800,000

 

SHARES
OF COMMON STOCK

 

AS
HEREIN DESCRIBED

 

Dated:
as of December 21, 2017

 

This
certifies that, for value received

 

NAME:
Eagle Equities, LLC

 

                                                        ADDRESS:
91 Shelton Ave, Suite 107, New Haven, CT 06511

 

or
registered assigns (the “Holder”) are entitled, subject to the terms set forth herein, to purchase from Endonovo Therapeutics,
Inc.(the “Company”), a Delaware corporation, having its offices at 6320 Canoga Avenue, 15th Floor, Woodland Hills,
CA 91367 One Million Eight Hundred Thousand (1,800,000) shares of the Company’s common stock subject to adjustment as set
forth herein.

 

1.
As used herein:

 

(a)
“Common Stock” or “Common Shares” shall initially refer to the Company’s common stock including
Underlying Securities, as more fully set forth in Section 5 hereof.

 

(b)
“Warrant Price” or “Common Share Price” shall be Twenty Five Cents ($0.25) per share.

 

    	 	 	 

     

    

 

(c)
“Underlying Securities” or “Underlying Shares” or “Underlying Stock” shall refer to the Common
Shares or other securities or property issuable or issued upon exercise of the Warrants.

 

2.  
(a) The purchase rights represented by this Warrant may be exercised by the Holder hereof, in whole or in part (but not as to
less than a whole Common Share), at any time, and from time to time, during the period commencing this date, until the second
anniversary hereof (the “Expiration Date”), by the presentation of this Warrant, with the purchase form attached duly
executed, at the Company’s office (or such office or agency of the Company as it may designate in writing to the Holder
hereof by notice pursuant to Section 13 hereof), specifying the number of Common Shares as to which the Warrant is being exercised,
and upon payment by the Holder to the Company in cash or by certified check or bank draft, in an amount equal to the Warrant Price
times the number of Common Shares then being purchased hereunder.

 

(b)
The Company agrees that the Holder hereof shall be deemed the record owner of such Underlying Securities as of the close of business
on the date on which this Warrant shall have been presented and payment made for such Underlying Securities as aforesaid. Certificates
for the Underlying Securities so obtained shall be delivered to the Holder hereof within a reasonable time, not exceeding seven
(7) days, after the rights represented by this Warrant shall have been so exercised and shall be delivered via DWAC if the Company
is so eligible. If this Warrant shall be exercised in part only or transferred in part subject to the provisions herein, the Company
shall, upon surrender of this Warrant for cancellation or partial transfer, deliver a new Warrant evidencing the rights of the
Holder hereof to purchase the balance of the Underlying Shares which such Holder is entitled to purchase hereunder.

 

(c)
Cashless Exercise. This Warrant may also be exercised at the Holder’s election, in whole or in part, at such time
by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal
to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A)
= the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless
exercise,” as set forth in the applicable Notice of Exercise;

 

(B)
= the Exercise Price of this Warrant, as adjusted hereunder; and

 

(X)
= the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant
if such exercise were by means of a cash exercise rather than a cashless exercise.

 

Notwithstanding
anything herein to the contrary, on the Termination Date, unless the Holder notifies the Company otherwise, if there is no effective
Registration Statement registering the Warrant Shares, or no current prospectus available for, the resale of the Warrant Shares
by the Holder, then this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c).

 

    	 	 	 

     

    

 

3.  
Subject to the provisions of Section 8 hereof, (i) this Warrant is exchangeable at the option of the Holder at the aforesaid office
of the Company for other Warrants of different denominations entitling the Holder thereof to purchase in the aggregate the same
number of Common Shares as are purchasable hereunder; and (ii) this Warrant may be divided or combined with other Warrants which
carry the same rights, in either case, upon presentation hereof at the aforesaid office of the Company together with a written
notice, signed by the Holder hereof, specifying the names and denominations in which new Warrants are to be issued, and the payment
of any transfer tax due in connection therewith.

 

4.  
Subject and pursuant to the provisions of this Section 4, the Warrant Price and number of Common Shares subject to this Warrant
shall be subject to adjustment from time to time as set forth hereinafter in this Section 4.

 

(a)
If the Company shall at any time subdivide its outstanding Common Shares by recapitalization, reclassification, stock dividend,
or split-up thereof or other means, the number of Common Shares subject to this Warrant immediately prior to such subdivision
shall be proportionately increased and the Warrant Price shall be proportionately decreased, and if the Company shall at any time
combine the outstanding Common Shares by recapitalization, reclassification or combination thereof or other means, the number
of Common Shares subject to this Warrant immediately prior to such combination shall be proportionately decreased and the Warrant
Price shall be proportionately increased. Any such adjustment and adjustment to the Warrant Price shall become effective at the
close of business on the record date for such subdivision or combination.

 

(b)
If the Company after the date hereof shall distribute to all of the holders of its Common Shares any securities including, but
not limited to Common Shares, or other assets (other than a cash distribution made as a dividend payable out of earnings or out
of any earned surplus legally available for dividends under the laws of the jurisdiction of incorporation of the Company), the
Board of Directors shall be required to make such equitable adjustment in the Warrant Price and the type and/or number of Underlying
Securities in effect immediately prior to the record date of such distribution as may be necessary to preserve to the Holder of
this Warrant rights substantially proportionate to and economically equivalent to those enjoyed hereunder by such Holder immediately
prior to the happening of such distribution. Any such adjustment made reasonably and in good faith by the Board of Directors shall
be final and binding upon the Holders and shall become effective as of the record date for such distribution.

 

(c)
No adjustment in the number of Common Shares subject to this Warrant or the Warrant Price shall be required under this Section
4 unless such adjustment would require an increase or decrease in such number of shares of at least 5% of the then adjusted number
of Common Shares issuable upon exercise of the Warrant, provided, however, that any adjustments which by reason of the foregoing
are not required at the time to be made shall be carried forward and taken into account and included in determining the amount
of any subsequent adjustment. If the Company shall make a record of the Holders of its Common Shares for the purpose of entitling
them to receive any dividend or distribution and legally abandon its plan to pay or deliver such dividend or distribution then
no adjustment in the number of Common Shares subject to the Warrant shall be required by reason of the making of such record.

 

    	 	 	 

     

    

 

(d)
In case of any capital reorganization or reclassification or change of the outstanding Common Shares (exclusive of a change covered
by Section 4(a) hereof or which solely affects the par value of such Common Shares) or in the case of any merger or consolidation
of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation
and which does not result in any reclassification, change, capital reorganization or change in the ownership of the outstanding
Common Shares), or in the case of any sale or conveyance or transfer of all or substantially all of the property of the Company
and in connection with which the Company is dissolved, the Holder of this Warrant shall have the right thereafter (until the expiration
of the right of exercise of this Warrant) to receive upon the exercise hereof, for the same aggregate Warrant Price payable hereunder
immediately prior to such event, the kind and amount of shares of stock or other securities or property receivable upon such reclassification,
change, capital reorganization, merger or consolidation, or upon the dissolution following any sale or other transfer, by a holder
of the number of Common Shares of the Company equal to the number of common shares obtainable upon exercise of this Warrant immediately
prior to such event; and if any reorganization, reclassification, change, merger, consolidation, sale or transfer also results
in a change in Common Shares covered by Section 4(a), then such adjustment shall be made pursuant to both this Section 4(d) and
Section 4(a). The provisions of this Section 4(d) shall similarly apply to successive reclassification, or capital reorganizations,
mergers or consolidations, changes, sales or other transfers.

 

(e)
The Company shall not be required to issue fractional Common Shares upon any exercise of this Warrant. As to any final fraction
of a Common Share which the Holder of this Warrant would otherwise be entitled to purchase upon such exercise, the Company shall
pay a cash adjustment in respect of such final fraction in an amount equal to the same fraction of the market value of a share
of such stock on the business day preceding the day of exercise or book value as determined by the Company’s independent
public accountants if not publicly traded. The Holder of this Warrant, by his acceptance hereof, expressly waives any right to
receive any fractional shares of stock upon exercise of this Warrant.

 

(f)
As used herein, the current market price (“Market Price”) per share at any date shall be the price of Common Shares
on the business day immediately preceding the event requiring an adjustment hereunder and shall be (A) if the principal trading
market for such securities is an exchange, the closing price on such exchange on such day provided if trading of such Common Shares
is listed on any consolidated tape, the price shall be the closing price set forth on such consolidated tape or (B) if the principal
market for such securities is the over-the-counter market, the high bid price on such date as set forth by NASDAQ, if the security
is not quoted on NASDAQ, the high bid price as set forth in the OTCQB or Pink Sheet listing such securities for such day. Notwithstanding
the foregoing, if there is no reported closing price or high bid price, as the case may be, on a date prior to the event requiring
an adjustment hereunder, then the current market price shall be determined as of the latest date prior to such day for which such
closing price or high bid price is available.

 

    	 	 	 

     

    

 

(g)
Irrespective of any adjustments pursuant to this Section 4 in the Warrant Price or in the number, or kind, or class of shares
or other securities or other property obtainable upon exercise of this Warrant, and without impairing any such adjustment the
certificate representing this Warrant may continue to express the Warrant Price and the number of Common Shares obtainable upon
exercise at the same price and number of Common Shares as are stated herein.

 

(h)
Until this Warrant is exercised, the Underlying Shares, and the Warrant Price shall be determined exclusively pursuant to the
provisions hereof.

 

(i)
Upon any adjustment of this Warrant the Company shall give written notice thereof to the Holder which notice shall include the
number of Underlying Securities purchasable and the price per share upon exercise of this Warrant and shall set forth in reasonable
detail the events which resulted in such adjustment

 

5.  
For the purposes of this Warrant, the terms “Common Shares” or “Common Stock” shall mean (i) the class
of stock designated as the common stock of the Company on the date set forth on the first page hereof or (ii) any other class
of stock resulting from successive changes or reclassification of such Common Stock consisting solely of changes from par value
to no par value, or from no par value to par value or changes in par value. If at any time, as a result of an adjustment made
pursuant to Section 4, the securities or other property obtainable upon exercise of this Warrant shall include shares or other
securities of another corporation or other property, then thereafter, the number of such other shares or other securities or property
so obtainable shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to
the provisions with respect to the Common Shares contained in Section 4, and all other provisions of this Warrant with respect
to Common Shares shall apply on like terms to any such other shares or other securities or property. Subject to the foregoing,
and unless the context requires otherwise, all references herein to Common Shares shall, in the event of an adjustment pursuant
to Section 4, be deemed to refer also to any other shares or other securities or property when obtainable as a result of such
adjustments.

 

    	 	 	 

     

    

 

6.  
The Company covenants and agrees that:

 

(a)
During the period within which the rights represented by this Warrant may be exercised, the Company shall, at all times, reserve
and keep available out of its authorized capital stock, solely for the purposes of issuance upon exercise of this Warrant, such
number of its Common Shares as shall be issuable upon the exercise of this Warrant and at its expense will obtain the listing
thereof on all quotation systems or national securities exchanges on which the Common Shares are then listed; and if at any time
the number of authorized Common Shares shall not be sufficient to effect the exercise of this Warrant, the Company will take such
corporate action as may be necessary to increase its authorized but unissued Common Shares to such number of shares as shall be
sufficient for such purpose; the Company shall have analogous obligations with respect to any other securities or property issuable
upon exercise of this Warrant;

 

(b)
All Common Shares which may be issued upon exercise of the rights represented by this Warrant will, upon issuance, be validly
issued, fully paid, non-assessable and free from all taxes, liens and charges with respect to the issuance thereof; and

 

(c)
All original issue taxes payable in respect of the issuance of Common Shares upon the exercise of the rights represented by this
Warrant shall be borne by the Company, but in no event shall the Company be responsible or liable for income taxes or transfer
taxes upon the transfer of any Warrants.

 

7.  
Until exercised, this Warrant shall not entitle the Holder hereof to any voting rights or other rights as a shareholder of the
Company, except that the Holder of this Warrant shall be deemed to be a shareholder of the Company for the purpose of bringing
suit on the ground that the issuance of shares of stock of the Company is improper under the Delaware General Corporation Law.

 

8.  
No transfer of all or a portion of the Warrant or Underlying Securities shall be made at any time unless the Company shall have
been supplied with evidence reasonably satisfactory to it that such transfer is not in violation of the Securities Act of 1933,
as amended (the “Act”). Subject to the satisfaction of the aforesaid condition and upon surrender of this Warrant
or certificates for any Underlying Securities at the office of the Company, the Company shall deliver a new Warrant or Warrants
or new certificate or certificates for Underlying Securities to and in the name of the assignee or assignees named therein. Any
such certificate may bear a legend reflecting the restrictions on transfer set forth herein.

 

9.  
If this Warrant is lost, stolen, mutilated or destroyed, the Company shall, on such terms as to indemnity or otherwise as the
Company may reasonably impose, issue a new Warrant of like denomination, tenor and date. Any such new Warrant shall constitute
an original contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall
be at any time enforceable by anyone.

 

10.  
Any Warrant issued pursuant to the provisions of Section 9 hereof, or upon transfer, exchange, division or partial exercise of
this Warrant or combination thereof with another Warrant or Warrants, shall set forth each provision set forth in Sections 1 through
17, inclusive, of this Warrant as each such provision is set forth herein, and shall be duly executed on behalf of the Company
by its chief executive officer.

 

    	 	 	 

     

    

 

11.  
Upon surrender of this Warrant for transfer or exchange or upon the exercise hereof, this Warrant shall be cancelled by the Company,
and shall not be reissued by the Company and, except as provided in Section 2 in case of a partial exercise, Section 3 in case
of an exchange or Section 8 in case of a transfer, or Section 9 in case of mutilation. Any new Warrant certificate shall be issued
promptly but not later than seven (7) days after receipt of the old Warrant certificate.

 

12.  
This Warrant shall inure to the benefit of and be binding upon the Holder hereof, the Company and their respective successors,
heirs, executors, legal representatives and assigns.

 

13.  
All notices required hereunder shall be in writing and shall be deemed given when telegraphed, delivered personally or within
two (2) days after mailing when mailed by certified or registered mail, return receipt requested, to the party to whom such notice
is intended, at the address of such other party as set forth on the first page hereof, or at such other address of which the Company
or Holder has been advised by the notice hereunder.

 

14.  
The Company will not (i) merge or consolidate with or into any other corporation or (ii) sell or otherwise transfer its property,
assets and business substantially as an entirety to another corporation, nor shall the Company become a wholly-owned or majority-owned
subsidiary of another corporation unless the corporation resulting from such merger or consolidation (if not the Company), or
such transferee corporation, or parent corporation, as the case may be, shall either (x) expressly assume, by supplemental agreement
satisfactory in form to the registered Holders of the Warrants exercisable for a majority of the Warrant Shares, the due and punctual
performance and observance of each and every covenant and condition of this Warrant to be performed and observed by the Company
and/or (y) exchange this warrant for a warrant of such corporation containing substantially the same terms and conditions as this
Warrant.

 

15.  
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in
any action for specific performance that a remedy at law would be adequate.

 

16.  
In the event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions contained herein shall not be in any way impaired thereby, it being intended
that all of the rights and privileges of the Holders shall be enforceable to the fullest extent permitted by law.

 

    	 	 	 

     

    

 

17.
The validity, interpretation and performance of this Warrant and of the terms and provisions hereof shall be governed by the laws
of the State of California applicable to agreements entered into and performed entirely in such state. The Federal State and Local
Courts situated in Los Angeles County California shall have exclusive jurisdiction over any case or controversy arising under
this Warrant and service by certified mail, return receipt requested, to the address set forth herein, shall be personal service
on any party provided the party shall have twenty days to answer and appear in such matter.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its duly authorized officer as of December 21, 2107.

 

	 	Endonovo
    Therapeutics, Inc.
	 	 	 
	 	By:	/s/
    Alan Collier
	 	 	Alan
    B. Collier, CEO

 

    	 	 	 

     

    

 

NOTICE
OF EXERCISE

 

TO:                       Endonovo
Therapeutics, Inc.

 

(1)  The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.

 

(2)                                       Payment
shall take the form of (check applicable box):

 

[  ]
in lawful money of the United States; or

 

[  ]
the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c),
to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure
set forth in subsection 2(c).

 

(3)
Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name
as is specified below:

_______________________________

 

(4)
After giving effect to this Notice of Exercise, the undersigned will not have exceeded the Beneficial Ownership Limitation.

 

The
Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: 

 

________________________________________________________________________

Signature
of Authorized Signatory of Investing Entity: 

 

_________________________________________________

Name
of Authorized Signatory: 

 

___________________________________________________________________

Title
of Authorized Signatory: 

 

_________________________________________________________________________

Date:
_________________________________________________________________________________

 

    	 	 	 

     

    

 

FORM
OF ASSIGNMENT

 

FOR
VALUE RECEIVED                            , hereby sells, assigns and transfers to                          (Social Security or I.D. No.                        ) the within Warrant, or that portion
of this Warrant purchaseable for _______ common shares together with all rights, title and interest therein, and does hereby irrevocably
constitute and appoint                    attorney to transfer such Warrant on the register of the within named Company, with full power of substitution.

 

(Signature)

 

Dated:
            , 201____

 

Signature
Guaranteed:

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