Document:

Exhibit 10.1

 

NEITHER THIS SECURITY NOR THE SECURITIES
INTO WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS
SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

GROUP 10 HOLDINGS, LLC

CONVERTIBLE DEBENTURE

 

	Issuance Date: January 27, 2015	Principal Amount: $36,750

 

FOR VALUE RECEIVED,
Players Network, Inc., a Nevada corporation (“Borrower”), hereby promises to pay to Group 10 Holdings LLC (“Holder”)
or its registered assigns or successors in interest, the sum of Thirty Six Thousand Seven Hundred Fifty dollars ($36,750) (the
“Principal Amount”), together with all accrued interest thereon, on the one (1) year anniversary from the Issuance
Date (the “Maturity Date”), if not sooner paid.

 

The following terms and conditions shall
apply to this Convertible Debenture (the “Debenture”):

 

ARTICLE
I 

DEFINITIONS

 

1.1Definitions.
For the purposes hereof, in addition to the terms defined elsewhere in this Debenture, the following terms shall have the following
meanings:

 

“Bankruptcy
Event’’ means any of the following events: (a) Borrower or any subsidiary (as such term is defined in Rule l-02(w)
of Regulation S-X) thereof commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of
debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction relating to Borrower or any
subsidiary thereof; (b) there is commenced against Borrower or any subsidiary thereof any such case or proceeding that is not dismissed
within sixty (60) days after commencement; (c) Borrower or any subsidiary thereof is adjudicated insolvent or bankrupt or any order
of relief or other order approving any such case or proceeding is entered; (d) Borrower or any subsidiary thereof suffers any appointment
of any custodian or the like for it or any substantial part of its property that is not discharged or stayed within sixty (60)
calendar days after such appointment; (e) Borrower or any subsidiary thereof makes a general assignment for the benefit of creditors;
(f) Borrower or any subsidiary thereof calls a meeting of its creditors with a view to arrange a composition, adjustment or restructuring
of its debts; or (g) Borrower or any subsidiary thereof, by any act or failure to act, expressly indicates its consent to, approval
of or acquiescence in any of the foregoing or takes any corporate or other action for the purpose of effecting any of the foregoing.

 

“Business
Day” means any day except any Saturday, any Sunday, any day which shall be a federal legal holiday in the United States
or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action
to close.

 

    	1

    	 

    

 

“Change of
Control Transaction” means the occurrence after the date hereof of any of (i) an acquisition after the date hereof by
an individual or legal entity or “group” (as described in Rule 13d-5(b)(l) promulgated under the Exchange Act) of effective
control (whether through legal or beneficial ownership of capital stock of Borrower, by contract or otherwise) of in excess of
50% of the voting securities of Borrower (other than by means of conversion or exercise of this Debenture and the securities issued
together with this Debenture) or (ii) Borrower merges into or consolidates with any other Person, or any Person merges into or
consolidates with Borrower and, after giving effect to such transaction, the stockholders of Borrower immediately prior to such
transaction own less than 50% of the aggregate voting power of Borrower or the successor entity of such transaction, or (iii) Borrower
sells or transfers all or substantially all of its assets to another Person and the stockholders of Borrower immediately prior
to such transaction own less than 50% of the aggregate voting power of the acquiring entity immediately after the transaction,
or (iv) a replacement at one time or within a three (3) year period of more than one-half of the members of Borrower’s board
of directors which is not approved by a majority of those individuals who are members of the board of directors on the date hereof
(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 (v) the execution by
Borrower of an agreement to which Borrower is a party or by which it is bound, providing for any of the events set forth in clauses
(i) through (iv) above.

 

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

 

“Issuance
Date” means the date of the issuance of this Debenture, regardless of any transfers of any Debenture and regardless of
the number of instruments which may be issued to evidence this Debenture.

 

“Lowest Closing
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) the average
of the two lowest closing bid prices of Borrower’s Common Stock during the seventeen (17) Trading Days prior to such date
or (b) if the Common Stock is not then quoted on a Trading Market, the fair market value of a share of Common Stock as determined
by an independent appraiser selected in good faith by Holder and reasonably acceptable to Borrower.

 

“Most Recent
Balance Sheet” means a true and complete copy of the balance sheet of Borrower as of September 30, 2014 prepared in accordance
with GAAP and disclosed in Borrower’s Form 10-Q for the fiscal quarter ended on such date.

 

“Permitted
Lien” means the individual and collective reference to the following: (a) liens for taxes, assessments and other governmental
charges or levies not yet due or liens for taxes, assessments and other governmental charges or levies being contested in good
faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of Borrower) have
been established in accordance with GAAP; and (b) liens imposed by law which were incurred in the ordinary course of Borrower’s
business, such as carriers’, warehousemen’s and mechanics’ liens, statutory landlords’ liens, and other
similar liens arising in the ordinary course of Borrower’s business, and which (x) do not individually or in the aggregate
materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business
of Borrower and its consolidated subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings
have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such lien.

 

    	2

    	 

    

 

“Person”
means a natural person, sole proprietorship, corporation, limited liability company, firm, partnership, association, joint venture,
trust, unincorporated organization, or other entity, whether acting in an individual, fiduciary, or other capacity.

 

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

 

“Trading Day”
means a day on which the principal Trading Market is open for business.

 

“Trading Market”
means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the
American Stock Exchange, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock
Exchange, the OTC Bulletin Board, or the OTC Markets QX Market, QB Market of Pink Market.

 

 

ARTICLE
II 

INTEREST & AMORTIZATION

 

2.1Contract
Rate. Subject to Sections 7.1 and 8.8 hereof, interest payable on this Debenture shall accrue at a rate per annum equal to
twelve percent (12%) and shall be computed on the basis of a 365-day year.

 

2.2Consideration.
In consideration for the Debenture, Holder shall pay to Borrower a purchase price equal to Thirty Five Thousand dollars
($35,000), payable by wire transfer or other immediately available funds.
Thus, as of the Issuance Date, there shall exist a One Thousand Seven Hundred Fifty ($1,750) Original Issue Discount (the “OID”)
from the Principal Amount. Interest shall accrue and be payable on the full Principal Amount of the Debenture, inclusive of the
OID, and payment of the full Principal Amount shall be required regardless of time and manner of payment or prepayment by Borrower.
Upon conversion, Holder shall receive credit for the full Principal Amount converted.

 

2.3Payments.
Payment of the aggregate Principal Amount, together with all accrued interest thereon shall be made on the Maturity Date.

 

2.4Prepayment
Option. Subject to the approval of Holder for prepayments after one hundred eighty (180) days, Borrower may prepay in cash
all or any portion of the Principal Amount of this Debenture and accrued interest thereon, with a premium, as set forth below (each
a “Prepayment Premium”), upon ten (10) Business Days prior written notice to Holder. Holder shall have the right
to convert all or any portion of the Principal Amount and accrued interest thereon in accordance with Article III hereof during
such ten (10) Business Day notice period. The amount of each Prepayment Premium shall be as follows: (a) one hundred five percent
(105%) of the prepayment amount if such prepayment is made at any time from the Issuance Date until thirty (30) days thereafter;
(b) one hundred fifteen percent (115%) of the prepayment amount if such prepayment is made at any time after thirty (30) days from
the Issuance Date.

 

    	3

    	 

    

 

ARTICLE
III 

CONVERSION REPAYMENT 

 

3.1.
Optional Conversion. Subject to the terms of this Article III, Holder shall have the right, but not the obligation, at
any time after the Issuance Date and until the Maturity Date, or thereafter during an Event of Default, to convert all or any
portion of the outstanding Principal Amount, accrued interest and fees due and payable thereon into fully paid and non-assessable
shares of Common Stock of Borrower at the Conversion Price, as defined below (the “Conversion Shares”).

 

3.2.Calculation
of Conversion Price. Subject to Section 4.6 hereof, the conversion price (the “Conversion Price”) shall
mean the lesser of (a) fifty-eight percent (58%) multiplied by the Lowest Closing Price as of the date a Notice of Conversion
is given (which represents a discount rate of forty-two percent (42%)) or (b) five cents ($0.05).

 

3.2.1Conversion
Price Adjustments. Conversion Price shall be subject to the following adjustments:

		i.	If
                                         the market capitalization of the Borrower is less than Three Hundred Thousand Dollars
                                         ($300,000) on the day immediately prior to the date of the Notice of Conversion, then
                                         the Conversion Price shall be twenty-five percent (25%) multiplied by the Lowest Closing
                                         Price as of the date a Notice of Conversion is given (which represents a discount rate
                                         of seventy-five percent (75%)); and

		ii.	If
                                         the closing price of the Borrower’s Common Stock on the day immediately prior to
                                         the date of the Notice of Conversion is less than .001 then the Conversion Price shall
                                         be twenty-five percent (25%) multiplied by the Lowest Closing Price as of the date a
                                         Notice of Conversion is given (which represents a discount rate of seventy-five percent
                                         (75%)).

 

3.3.Conversion Limitation. Notwithstanding anything contained herein to the contrary, the number of Conversion Shares
that may be acquired by Holder upon conversion of this Debenture (or otherwise in respect hereof) shall be limited to the extent
necessary to ensure that, following such conversion (or other issuance), the total number of shares of Common Stock then beneficially
owned by Holder and its affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with that
of Holder for purposes of Section 13(d) of the Exchange Act does not exceed 4.99% of the total number of issued and outstanding
shares of Common Stock, including, for such purpose, the shares of Common Stock issuable upon such conversion, but excluding the
number of shares of Common Stock issuable upon (a) conversion of the remaining, unconverted Principal Amount of this Debenture
beneficially owned by Holder or any of its affiliates and (b) exercise or conversion of the unexercised or unconverted portion
of any other securities of Borrower subject to a limitation on conversion or exercise analogous to the limitation contained herein
(including, without limitation, any other debenture or warrant) beneficially owned by Holder or any of its affiliates. For such
purposes, beneficial ownership shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder.  By written notice to Borrower, Holder may increase, decrease or waive the provisions of this Section
3.3 as to itself but any such waiver will not be effective until the sixty-first (61st) day after delivery thereof.

 

    	4

    	 

    

 

 

3.4.Mechanics of Holder’s Conversion. Subject to Section 3.3 hereof, this Debenture may be converted by Holder,
in whole or in part from time to time after the Issuance Date, by submitting to Borrower and/or the transfer agent of record a
notice of conversion (“Notice of Conversion”), the form of which is attached hereto as Exhibit A. Such
Notice of Conversion shall specify the Principal Amount of the Debenture to be converted and the date on which such conversion
shall be effected (the “Conversion Date”). Pursuant to the terms of the Notice of Conversion, Borrower shall
issue instructions to the transfer agent within two (2) Trading Days from the receipt of the Notice of Conversion and shall cause
the transfer agent to transmit the certificates representing the Conversion Shares to Holder by physical delivery or crediting
the account of Holder’s designated broker with the Depository Trust Corporation (“DTC”) through its Deposit
Withdrawal Agent Commission (“DWAC”) system within two (2) Trading Days after receipt by Borrower of the Notice
of Conversion (the “Delivery Date”). In the case of the exercise of the conversion rights set forth herein,
the conversion privilege shall be deemed to have been exercised, and the Conversion Shares issuable upon such conversion shall
be deemed to have been issued, upon the Delivery Date and Holder shall be treated for all purposes as the record holder of such
Common Stock, unless Holder provides Borrower with written instructions to the contrary. Conversions hereunder shall have the effect
of lowering the outstanding Principal Amount of this Debenture in an amount equal to the applicable conversion. Holder and Borrower
shall maintain records showing the Principal Amount(s) converted and the Conversion Date(s). In the event of any dispute or discrepancy,
the records of Holder shall be controlling and determinative in the absence of manifest error.

 

3.5.
Conversion Mechanics. The number of shares of Common Stock to be issued upon each conversion of this Debenture shall be
determined by dividing that portion of the Principal Amount and interest and fees to be converted, if any, by the then applicable
Conversion Price.

 

3.6Fractional
Shares. No fractional shares shall be issued upon the conversion of this Debenture. As to any fraction of a share which Holder
would otherwise be entitled to upon such conversion, Borrower shall round up to the next whole share.

 

3.7Late Delivery
of Conversion Shares. Borrower understands that a delay in the delivery of Conversion Shares in the form required pursuant
to this Article III beyond the Delivery Date could result in economic loss to Holder. As compensation to Holder for such loss,
Borrower agrees to pay late fees to Holder for late issuance of such shares in the form required pursuant to this Article III upon
conversion of the Debenture, in the amount equal to one thousand dollars ($1,000) per Business Day after the Delivery Date. Borrower
shall pay any fees incurred under this Section in immediately available funds upon demand and such fees shall also be eligible
to be converted into Common Stock pursuant to this Article III.

 

3.8Authorized
and Reserved Shares. Borrower represents and warrants and covenants and agrees that upon issuance, the Conversion Shares will
be duly and validly issued, fully issued and non-assessable. Borrower agrees that its issuance of this Debenture 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 Conversion Shares in accordance with the terms and conditions of this Debenture. At all times during
which this Debenture is outstanding, Borrower shall reserve and keep available from its authorized and unissued shares of Common
Stock (the “Share Reserve”) for the sole purpose of issuance upon conversion of this Debenture and payment of
interest on this Debenture, each as herein provided, free from preemptive rights or any other actual or contingent purchase rights
of Persons other than Holder, not less than such aggregate number of shares of the Common Stock that shall be issuable (taking
account the adjustments of Article IV) upon the conversion of the outstanding Principal Amount of this Debenture and payment of
interest hereunder. Initially, the Share Reserve shall be equal to 20,000,000 and shall be adjusted by the transfer agent from
time to time. Borrower agrees that it will take all such reasonable actions as may be necessary to assure that the Conversion Shares
may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the applicable
Trading Market upon which the Common Stock may be listed. Borrower agrees to provide Holder with confirmation evidencing the execution
of such share reservation within three (3) Business Days from the Issuance Date.

 

    	5

    	 

    

 

 

3.9Issuance
of New Debenture. Upon any partial conversion of this Debenture, a new Debenture containing the same date and provisions of
this Debenture shall, at the request of Holder, be issued by Borrower to Holder for the principal balance of this Debenture and
accrued interest which shall not have been converted or paid. Subject to the provisions of Article VI, Borrower will pay no costs,
fees or any other consideration to Holder for the production and issuance of a new Debenture.

 

3.10Par Value;
Further Assurances.

 

(a)Borrower covenants
that during the period that the Principal Amount of this Debenture and any accrued interest and fees thereon remain outstanding,
it will ensure that the par value of any Conversion Shares shall not exceed the amount payable therefor upon such exercise immediately
prior to such exercise. Borrower further covenants that it shall take all appropriate actions, including, without limitation, amending
its articles or certificate of incorporation and any other voluntary action, such as calling a meeting of stockholders to approve
any such amendment, to ensure that the amount payable for any Conversion Shares shall at all times exceed the par value thereof
by at least four hundred percent (400%).

 

(b)Except and to
the extent as waived or consented to by Holder, Borrower shall not by any action, including, without limitation, amending its articles
or certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, 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
Debenture, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Debenture against impairment. Without limiting
the generality of the foregoing, Borrower will (a) not increase the par value of any Conversion Shares above the amount payable
therefor upon such exercise immediately prior to such exercise, (b) take all such action as may be necessary or appropriate in
order that Borrower may validly and legally issue fully paid and nonassessable Conversion Shares upon the exercise of this Debenture
and (c) use its commercially best efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof as may be necessary to enable Borrower to perform its obligations under this Debenture.

 

3.11 Transfer
Taxes. The issuance of certificates for Conversion Shares shall be made without charge to Holder for any documentary stamp
or similar taxes that may be payable in respect of the issue or delivery of such certificates, provided that Borrower shall not
be required to pay any tax that may be payable in respect of any transfer involved in the issuance and delivery of any such certificate
upon conversion in a name other than that of Holder and Borrower shall not be required to issue or deliver such certificates unless
or until the Person or Persons requesting the issuance thereof shall have paid to Borrower the amount of such tax or shall have
established to the satisfaction of Borrower that such tax has been paid.

 

3.12 Rule 144
Issuer’s Representation Letter. In the event that Holder’s brokers dealer requires a Rule 144 Issuer’s Representation
Letter (the “144 Letter”), Holder will submit to Borrower the 144 Letter along with a corresponding Notice of
Conversion upon which Borrower will have forty-eight (48) hours to execute and return the 144 Letter.

 

    	6

    	 

    

 

ARTICLE
IV 

CERTAIN ADJUSTMENTS

 

4.1Stock Dividends
and Stock Splits. If Borrower, at any time while this Debenture is outstanding: (a) pays a stock dividend or otherwise makes
a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any Common Stock equivalents (which,
for avoidance of doubt, shall not include any shares of Common Stock issued by Borrower upon conversion of, or payment of interest
on, this Debenture); (b) subdivides outstanding shares of Common Stock into a larger number of shares; or (c) issues, in the event
of a reclassification of shares of the Common Stock, any shares of capital stock of Borrower, then the Conversion Price shall be
multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of
Borrower) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock
outstanding immediately after such event. Any adjustment made pursuant to this Section shall become effective immediately after
the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective
immediately after the effective date in the case of a subdivision, combination or re-classification.

 

4.2Subsequent
Rights Offerings. If Borrower, at any time within six (6) months of the Issuance Date, shall issue rights, options or warrants
to all holders of Common Stock (and not to Holder) entitling them to subscribe for or purchase shares of Common Stock at a price
per share that is lower than the Lowest Closing Price on the record date referenced below, then the Conversion Price shall be multiplied
by a fraction of which the denominator shall be the number of shares of the Common Stock outstanding on the date of issuance of
such rights or warrants plus the number of additional shares of Common Stock offered for subscription or purchase, and of which
the numerator shall be the number of shares of the Common Stock outstanding on the date of issuance of such rights or warrants
plus the number of shares which the aggregate offering price of the total number of shares issued (assuming delivery to Borrower
in full of all consideration payable upon exercise of such rights, options or warrants) would purchase at such Lowest Closing Price.
Such adjustment shall be made whenever such rights or warrants are issued, other than to officers and directors under equity incentive
plans approved by the board of directors, and shall become effective immediately after the record date for the determination of
stockholders entitled to receive such rights, options or warrants.

 

4.3Pro
Rata Distributions. If Borrower, at any time while this Debenture is outstanding, distributes to all holders of Common Stock
(and not to Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights or warrants to subscribe
for or purchase any security (other than the Common Stock, which shall be subject to Section 4.1), then in each such case the Conversion
Price shall be adjusted by multiplying such Conversion Price in effect immediately prior to the record date fixed for determination
of stockholders entitled to receive such distribution by a fraction of which the denominator shall be the Lowest Closing Price
determined as of the record date mentioned above, and of which the numerator shall be such Lowest Closing Price on such record
date less the then fair market value at such record date of the portion of such assets or evidence of indebtedness so distributed
applicable to one (1) outstanding share of the Common Stock as determined by the board of directors of Borrower in good faith.
In either case the adjustments shall be described in a statement delivered to Holder describing the portion of assets or evidences
of indebtedness so distributed or such subscription rights applicable to one (1) share of Common Stock. Such adjustment shall be
made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

 

    	7

    	 

    

 

4.4 Fundamental
Transaction. If, at any time while this Debenture is outstanding, (a) Borrower effects any merger or consolidation of Borrower
with or into another Person, (b) Borrower effects any sale of all or substantially all of its assets in one transaction or a series
of related transactions, (c) any tender offer or exchange offer (whether by Borrower or another Person) is completed pursuant to
which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property, or (d) Borrower
effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property (in any such case, a “Fundamental Transaction”),
then, upon any subsequent conversion of this Debenture, Holder shall have the right to receive, for each Conversion Share that
would have been issuable upon such conversion immediately prior to the occurrence of such Fundamental Transaction, the same kind
and amount of securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction
if it had been, immediately prior to such Fundamental Transaction, holder of one (1) share of Common Stock (the “Alternate
Consideration”). For purposes of any such conversion, the determination of the Conversion Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one (1)
share of Common Stock in such Fundamental Transaction, and Borrower shall apportion the Conversion Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then Holder
shall be given the same choice as to the Alternate Consideration it receives upon any conversion of this Debenture following such
Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to Borrower or surviving
entity in such Fundamental Transaction shall issue to Holder a new Debenture consistent with the foregoing provisions and evidencing
Holder’s right to convert such Debenture into Alternate Consideration. The terms of any agreement pursuant to which a Fundamental
Transaction is effected shall include terms requiring any such successor or surviving entity to comply with the provisions of this
Section 4.4 and insuring that this Debenture (or any such replacement security) will be similarly adjusted upon any subsequent
transaction analogous to a Fundamental Transaction.

 

4.5 Calculations.
All calculations under this Article III shall be made to four decimal places or the nearest 1/100th of a share, as the case may
be. For purposes of this Article III, the number of shares of Common Stock deemed to be issued and outstanding as of a given date
shall be the sum of the number of shares of Common Stock (excluding any treasury shares of Borrower) issued and outstanding.

 

4.6Notice
to Holder.

 

a)Adjustment to Conversion
Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Article IV, Borrower shall promptly deliver
to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts
requiring such adjustment.

 

 

    	8

    	 

    

 

 

b) Notice
to Allow Conversion by Holder. If (i) Borrower shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (ii) Borrower shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (iii) Borrower
shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares of
capital stock of any class or of any rights, (iv) the approval of any stockholders of Borrower shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which Borrower is a party, any sale or transfer of
all or substantially all of the assets of Borrower, of any compulsory share exchange whereby the Common Stock is converted into
other securities, cash or property or (v) Borrower shall authorize the voluntary or involuntary dissolution, liquidation or winding
up of the affairs of Borrower, then, in each case, Borrower shall cause to be filed at each office or agency maintained for the
purpose of conversion of this Debenture, and shall cause to be delivered to Holder at its last address as it shall appear upon
Borrower’s books and records, at least 20 calendar days prior to the applicable record or effective date hereinafter specified,
a notice stating (A) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights
or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to
such dividend, distributions, redemption, rights or warrants are to be determined or (B) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is
expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities,
cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided
that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate
action required to be specified in such notice. Holder is entitled to convert this Debenture during the 20-day period commencing
on the date of such notice through the effective date of the event triggering such notice.

 

4.7Most Favored
Nations Status. So long as this Debenture is outstanding, upon any issuance by Borrower or any of its subsidiaries of any security
(in an amount under one million dollars ($1,000,000)) with any term more favorable to the holder of such security or with a term
in favor of the holder of such security that was not similarly provided to Holder in this Debenture, then Borrower shall notify
Holder of such additional or more favorable term and such term, at Holder’s option, shall become a part of the transaction
documents with Holder. Such more favorable terms include, but are not limited to, terms addressing conversion discounts, conversion
look-back periods, interest rates, original issue discounts, stock sale price, private placement price per share and warrant coverage. 

 

4.8Holder’s
Adjustments. Upon the occurrence of either of the following events, Holder may, within three (3) Business Days of such occurrence,
provide the transfer agent with written instructions to increase the Share Reserve in accordance therewith: (a) closing price of
Borrower’s Common Stock is less than .001 for three (3) consecutive Trading Days then the reserve shall be increased to 50,000,000
shares; (b) closing price of Borrower’s Common Stock is less than .0005 for three (3) consecutive Trading Days then the reserve
shall be increased to 150,000,000 shares

 

ARTICLE
V 

NEGATIVE COVENANTS

 

As long as any portion
of this Debenture remains outstanding, unless Holder shall have otherwise given prior written consent, Borrower shall not, and
shall not permit any of its subsidiaries (whether or not a subsidiary on the Issuance Date) to, directly or indirectly:

 

    	9

    	 

    

 

 

5.1other than Permitted
Indebtedness, enter into, create, incur, assume, guarantee or suffer to exist any indebtedness for borrowed money of any kind,
including but not limited to, a guarantee, on or with respect to any of its property or assets now owned or hereafter acquired
or any interest therein or any income or profits therefrom;

 

5.2other than Permitted
Liens, enter into, create, incur, assume or suffer to exist any liens or security interests of any kind, on or with respect to
any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;

 

5.3issue any shares
of Common Stock in exchange for satisfaction or accord, in whole or in part, of any outstanding accounts payable obligations of
Borrower, where such shares would be freely tradable (without restrictions, manner of sale obligations or reporting obligations)
by the recipient thereof (or any transferee thereof) prior to the date which is six (6) months following the date of issuance thereof,
whether pursuant to Section 3(a)(10) of the Securities Act or otherwise;

 

5.4amend its charter
documents, including, without limitation, its articles or certificate of incorporation and bylaws, in any manner that materially
and adversely affects any rights of Holder;

 

5.5repay, repurchase
or offer to repay, repurchase or otherwise acquire any indebtedness for borrowed money (except for this Debenture in accordance
with the terms hereof and except for the Permitted Indebtedness described under clauses (a), (b) and (d) of the definition thereof
in accordance with the terms of such indebtedness as in effect on the date hereof), other than regularly scheduled principal and
interest payments as such terms are in effect as of the Issuance Date;

 

5.6pay cash dividends
or distributions on any equity securities of Borrower;

 

5.7combine (including
by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares;

 

5.8enter into any
transaction with any affiliate of Borrower which would be required to be disclosed in any public filing with the Securities and
Exchange Commission (the “SEC”), unless such transaction is made on an arm’s-length basis and expressly
approved by a majority of the disinterested directors of Borrower (even if less than a quorum otherwise required for board approval);
or

5.9enter into any
agreement with respect to any of the foregoing.

 

ARTICLE
VI 

EVENTS OF DEFAULT

 

The occurrence of any
of the following events, while this Debenture is outstanding, shall be an “Event of Default;” provided that
any Event of Default may be cured within a one (1) Business Day except as otherwise provided herein:

 

6.1Failure to
Pay Principal, Interest or Other Fees. Borrower fails to pay the Principal Amount, interest or other fees hereon as and when
the same shall become due and payable and such failure shall continue for a period of one (1) Business Day following the date upon
which any such payment was due.

 

6.2Breach of
Covenant. Borrower breaches any covenant or other term or condition of this Debenture, including, but not limited, to the negative
covenants provided in Article V, in any material respect and such breach, if subject to cure, continues for a period of one (1)
Business Day after the occurrence thereof.

 

    	10

    	 

    

 

 

6.3Breach of
Representations and Warranties. Any representation or warranty of Borrower made herein or in any other report, financial statement
or certificate made or delivered to Holder shall be false or misleading in any material respect as of the date when made or deemed
made.

 

6.4SEC Filings.
At any point while this Debenture is outstanding, Borrower is not current with its reporting responsibilities under Section 13
of the Exchange Act. Furthermore, Borrower fails to timely file, when due, any SEC report, including any required XBRL file along
with such report (e.g., Forms 8-K, 10-Q or 10-K, or Schedules 14A, 14C or 14(f)), or, if the filing date of such report
is properly extended pursuant to SEC Rule 12b-25, when the date of any such filing extension lapses, or any post-effective amendment
to any SEC Registration Statement.

 

6.5Stop Trade.
An SEC stop trade order or trading suspension of the Common Stock on the applicable Trading Market shall be in effect for five
(5) consecutive Trading Days or five (5) Trading Days during a period of ten (10) consecutive Trading Days, provided that Borrower
shall not have been able to cure such trading suspension within thirty (30) Business Days of the notice thereof or list the Common
Stock on another Trading Market within sixty (60) Business Days of such notice.

 

6.6SEC Reporting
Status Matters.

 

(a)Borrower indicates
by check mark on the cover page of an SEC report filing that it has not (i) filed all reports required to be filed by Section 13
or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such
reports), and (ii) has been subject to such filing requirements for the past ninety (90) days.

(b)Borrower indicates
by check mark on the cover page of an SEC report filing that it has not submitted electronically and posted on its corporate website,
if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during
the preceding twelve (12) months (or for such shorter period that the registrant was required to submit and post such files).

 

(c)Borrower indicates
by check mark on the cover page of an SEC report filing that it is a shell company (as defined in Rule 12b-2 of the Exchange
Act); or

 

(d)Borrower files
a Form 15 with the SEC to deregister its Common Stock. In such an event, Borrower shall file current reports with attorney opinions
on not less than a quarterly basis on www.otcmarkets.com until such time as Borrower re-registers its Common Stock with the SEC.

 

6.7Change of
Control. Borrower shall be a party to any Change of Control Transaction or Fundamental Transaction or shall agree to sell or
dispose of all or substantially all of its assets in one transaction or a series of related transactions (whether or not such sale
would constitute a Change of Control Transaction).

 

6.8Receiver
or Trustee. Each of Borrower or its subsidiaries, if any, 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; or shall become insolvent or generally fails to pay, or admits in writing its
inability to pay, its debts as they become due, subject to applicable grace periods, if any.

 

6.9Judgments.
Any money judgment, writ or similar final process shall be entered or filed against Borrower or any of its subsidiaries or any
of their respective property or other assets for more than one hundred thousand dollars ($100,000) in the aggregate for Borrower,
and shall remain unvacated, unbonded or unstayed for a period of thirty (30) days.

 

6.10Bankruptcy.
Borrower or any of its subsidiaries shall be subject to a Bankruptcy Event.

 

    	11

    	 

    

 

6.11DTC Eligibility.
Borrower shall lose its status as “DTC Eligible” or Borrower’s stockholders shall lose the ability to deposit
(either electronically or by physical certificates, or otherwise) shares into the DTC System through a “deposit chill”
or otherwise.

 

6.12Reservation
of Shares. Borrower shall fail timely to reserve shares of Common Stock from its authorized and unissued shares pursuant to
Section 3.8.

 

 

ARTICLE
VII  

DEFAULT RELATED PROVISIONS AND OTHER
PRIVILEGES

 

7.1Default Interest
Rate. If any Event of Default occurs, the outstanding Principal Amount of this Debenture, plus accrued but unpaid interest,
liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at Holder’s
election, immediately due and payable in cash in the sum of (a) one hundred eighteen percent (118%) of the outstanding Principal
Amount of this Debenture plus one hundred percent (100%) of accrued and unpaid interest thereon and (b) all other amounts, costs,
expenses and liquidated damages due in respect of this Debenture (“Mandatory Default Amount”). After the occurrence
of any Event of Default, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of eighteen percent
(18%) per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, Holder
shall promptly surrender this Debenture to or as directed by Borrower. In connection with such acceleration described herein, Holder
need not provide, and Borrower hereby waives, any presentment, demand, protest or other notice of any kind, and Holder may immediately
and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available
to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and
Holder shall have all rights as a holder of his Debenture until such time, if any, as Holder receives full payment pursuant to
this Section 7.1. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

 

7.2Default Penalty
Payment. Following the occurrence and during the continuance of an Event of Default, Borrower agrees to pay to Holder in the
amount equal to one thousand dollars ($1,000) per Business Day commencing the Business Day following the date of the Event of Default.
Borrower shall pay any fees incurred under this Section in immediately available funds upon demand and such fees shall also be
eligible to be converted into Conversion Shares as set forth in Article III. Such conversion privileges shall remain in full force
and effect immediately from the date hereof and until this Debenture is paid in full.

 

ARTICLE
VIII  

MISCELLANEOUS

 

8.1Piggyback
Registration Rights. Borrower shall include on the next registration statement Borrower files with the SEC (or on the subsequent
registration statement if such registration statement is withdrawn) all shares issuable upon conversion of this Debenture. Failure
to do so will result in liquidated damages of twenty-five percent (25%) of the outstanding Principal Amount of this Debenture,
but not less than twenty-five thousand dollars ($25,000), being immediately due and payable to Holder at its election in the form
of cash payment or addition to the balance of this Debenture. Notwithstanding the foregoing, in the event a registration statement
is filed with respect to an underwritten offering or a selling stockholder registration statement relating solely to holders of
Borrower’s Common Stock who paid cash for such Common Stock in a sale placed by an independent placement agent, the number
of shares of Common Stock owned by Holder to be included in any such registration statement may be limited if in the opinion of
the underwriter or placement agent, the sale of such shares by Holder would adversely impact the sale of shares by the underwriter
or selling stockholders included therein.

 

    	12

    	 

    

 

8.2Failure or
Indulgence Not Waiver. No failure or delay on the part of Holder hereof 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 privilege. All rights and remedies existing hereunder are cumulative
to, and not exclusive of, any rights or remedies otherwise available.

 

8.3Notices.
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 FedEx or other reputable express courier service with charges prepaid, (iv)
transmitted by hand delivery, telegram, e-mail or facsimile, addressed as set forth below or (v) sent via Email whereby a return
Email confirming receipt has been delivered. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (y) upon hand 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 (z) on the next 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 Borrower:

 

Players Network, Inc.

Attn: Mark Bradley

1771 E. Flamingo Road

Las Vegas, NV 89119

 

 

If to Holder:

 

Group 10 Holdings
LLC

Attn: Adam Wasserman

11 Island Ave. #1108

Miami Beach, FL 33139

EIN # 32-0409845

adam@group10llc.com

 

No change in any of such
addresses shall be effective insofar as notices under this Section 8.3 are concerned unless such changed address is located in
the United States of America and notice of such change shall have been given to such other party hereto as provided in this Section
8.3.

 

8.4Amendment
Provision. Any term of this Debenture may be amended only with the written consent of Holder and Borrower. . The term “Debenture”
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, and any successor instrument as it may be amended or supplemented.

 

    	13

    	 

    

 

 

8.5Assignability.
This Debenture shall be binding upon Borrower and its successors and assigns, and shall inure to the benefit of Holder and its
successors and assigns, and may not be assigned by Borrower without the prior written consent of Holder, which consent may not
be unreasonably withheld.

 

8.6Prevailing
Party and Costs. In the event any attorney is employed by any party with regard to any legal or equitable action, arbitration
or other proceeding brought by such party for the enforcement of this Debenture or because of an alleged dispute, breach, default
or misrepresentation in connection with any of the provisions of this Debenture, the prevailing party in such proceeding will be
entitled to recover from the other party reasonable attorneys' fees and other costs and expenses incurred, in addition to any other
relief to which the prevailing party may be entitled.

 

8.7Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial. This Debenture shall be governed by, and construed in accordance with,
the internal laws of the State of New York, without regard to principles of conflicts of law. HOLDER AND BORROWER WAIVE ANY RIGHT
TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS DEBENTURE OR ANY TRANSACTION CONTEMPLATED HEREIN,
INCLUDING CLAIMS BASED ON CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER COMMON LAW OR STATUTORY BASES. Each party hereby submits
to the exclusive jurisdiction of the state and federal courts located in the County of Miami-Dade, State of Florida. If the jury
waiver set forth in this Section is not enforceable, then any dispute, controversy or claim arising out of or relating to this
Debenture or any of the transactions contemplated herein will be finally settled by binding arbitration in Miami-Dade County, Florida
in accordance with the then current Commercial Arbitration Rules of the American Arbitration Association by one arbitrator appointed
in accordance with said rules. The arbitrator shall apply New York law to the resolution of any dispute, without reference to rules
of conflicts of law or rules of statutory arbitration. Judgment on the award rendered by the arbitrator may be entered in any court
having jurisdiction thereof. Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for preliminary
or interim equitable relief, or to compel arbitration in accordance with this paragraph. The expenses of the arbitration, including
the arbitrator’s fees and expert witness fees, incurred by the parties to the arbitration, may be awarded to the prevailing
party, in the discretion of the arbitrator, or may be apportioned between the parties in any manner deemed appropriate by the arbitrator.
Unless and until the arbitrator decides that one party is to pay for all (or a share) of such expenses, both parties shall share
equally in the payment of the arbitrator’s fees as and when billed by the arbitrator.

 

8.8Maximum Payments.
Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of
the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges hereunder
exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by Borrower
to Holder and thus refunded to Borrower.

 

8.9Construction.
Borrower acknowledges that its legal counsel participated in the preparation of this Debenture and, therefore, stipulates that
the rule of construction that ambiguities are to be resolved against the drafting party shall not be applied in the interpretation
of this Debenture to favor any party against the other.

 

    	14

    	 

    

 

8.10Absolute
Obligation. Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligation of Borrower,
which is absolute and unconditional, to pay the Principal Amount of, interest and liquidated damages (if any) on, this Debenture
at the time, place, and rate, and in the coin or currency, herein prescribed. This Debenture is a direct debt obligation of Borrower.

 

8.11Lost or
Mutilated Debenture. If this Debenture shall be mutilated, lost, stolen or destroyed, Borrower shall execute and deliver, in
exchange and substitution for and upon cancellation of a mutilated Debenture, or in lieu of or in substitution for a lost, stolen
or destroyed Debenture, a new Debenture for the Principal Amount of this Debenture so mutilated, lost, stolen or destroyed.

 

8.12Opinion
of Counsel. An opinion of the following counsels shall be deemed acceptable to Borrower: Law Firm of Richardson & Patel
LLP, Geenberg Trauirg LLP, Bauman & Associates Law Firm and Law Office of Clifford J. Hunt.

 

 

[Signature page follows.]

 

 

 

 

 

 

 

 

 

    	15

    	 

    

 

IN WITNESS WHEREOF,
Borrower has caused this Convertible Debenture to be signed in its name effective as of the date first above indicated.

 

BORROWER:

 

Players Network, Inc

 

 

By:    ________________________

 

Name: Mark Bradley

Title: CEO

 

 

 

HOLDER:

Group 10 Holdings,
LLC

 

By:    ________________________

Name: Adam Wasserman

Title: Managing Member

 

 

 

 

 

    	16

    	 

    

 

EXHIBIT A

NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert principal under the Convertible Debenture (“Debenture”) of Players Network,
a Nevada corporation (“Borrower”), into shares of common stock (the “Common Stock”) of Borrower
according to the conditions hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a Person
other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith
such certificates and opinions as reasonably requested by Borrower in accordance therewith. No fee will be charged to the undersigned
for any conversion, except for such transfer taxes, if any.

 

By the delivery of
this Notice of Conversion the undersigned represents and warrants to Borrower that its ownership of Common Stock does not exceed
the amount specified under Section 3.3 of the Debenture, as determined in accordance with Section 13(d) of the Exchange Act.

 

The undersigned agrees
to comply with the prospectus delivery requirements under the applicable securities laws in connection with any transfer of the
aforesaid shares of Common Stock pursuant to any prospectus.

 

	Conversion calculations:	 
	 	 
	 	Date to Effect Conversion:	 
	
         

         
	
         

        Principal Amount of Note to be Converted:
	 

 

	 	Interest Accrued on Account
	 	of Conversion at Issue:	 

 

	 	Number of shares of Common Stock to be issued:	 

 

 

	 	Signature:	 

 

	 	Name:	Group 10 Holdings LLC

 

	 	 	Address for Delivery of Common Stock Certificates:
	 	 	11 Island Ave #1108
	 	 	Miami Beach, FL 33139 
	 	 	EIN# 32-0409845
	 	 	Tel: 917.374.8229, Fax: 305.359.5180

 

	 	Or	 

 

	 	DWAC Instructions:

 

	 	Broker No:	 
	 	Account No:	 

 

 

 

 

    	17Exhibit 10.2

 

 

 

NEITHER THIS NOTE NOR THE SECURITIES THAT
MAY BE ISSUED BY THE BORROWER 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.

 

12% CONVERTIBLE NOTE

 

Maturity Date of September 2,
2015 *the “Maturity Date”

 

$75,000 March 2, 2015 *the “Issuance
Date”

 

FOR
VALUE RECEIVED, The Players Network, a Nevada Corporation (the “Company”) doing business in Las Vegas, NV 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 Seventy-Five Thousand Dollars ($75,000), on demand of the Holder at any time on or after September 2,
2015 (the “Maturity Date”), and to pay interest on the unpaid principal balance hereof at the rate of Twelve
Percent (12%) per annum (the “Interest Rate”) from the date hereof (the “Issuance Date”) until the same
becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise; provided, that any amount
of principal or interest on this Note which is not paid when due shall bear interest at such rate on the unpaid principal balance
hereof plus Default Interest from the due date thereof until the same is paid in full. 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 annually.

 

		1.	Payments
                                         of Principal and Interest.

 

		a.	Payment
                                         of Principal. Until the Ninetieth (90th) day after the Issuance Date the Company may
                                         pay the principal at a cash redemption premium of 125%, in addition to outstanding interest,
                                         without the Holder’s consent; from the 90th 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 140%, in addition to outstanding interest, without the Holder’s consent.
                                         After the 120th day, up to and upon the Maturity Date, this note has a cash redemption
                                         premium of 140% of the principal amount, in addition to outstanding interest, but this
                                         provision may only be exercised if the consent of the Holder is obtained. After the Maturity
                                         Date the Company may pay the Note’s outstanding principal at a cash redemption
                                         premium of 140%, in addition to outstanding interest, but this provision may only be
                                         exercised if the consent of the Holder is obtained. The principal and interest balance
                                         of this Note shall be paid to the Holder hereof on demand.

 

		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 before or after the Maturity Date.

 

		c.	Default
                                         Interest. Any amount of principal on this Note which is not paid when due shall bear
                                         Twelve Percent (12%) interest per annum from the date thereof until the same is paid
                                         (“Default Interest”) and the Holder, at the Holder’s sole discretion,
                                         may include any accrued but unpaid Default Interest in the Conversion Amount.

 

		d.	General
                                         Payment Provisions. This Note shall be made in lawful money of the United States of America
                                         by check 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 prior to the Maturity Date, or after the Maturity Date, the Conversion
                                         Amount of this Note shall be convertible into shares of the Company’s common stock,
                                         share (the “Common Stock”), on 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:

 

“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, on unpaid interest and principal, if so included at the Holder’s
sole discretion.

 

“Conversion
Price” means the lower of: (i) a 42% discount to the lowest two closing price during the previous ten (10) trading days
to the date of Conversion; or (ii) a 42% discount to the average of the two lowest closing prices during the previous ten (10)
trading days before the date that this note was executed.

 

“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.

 

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

 

		b.	Holder’s
                                         Conversion Rights. At any time or times on or after the Issuance Date, the Holder shall
                                         be entitled to convert all of the outstanding and unpaid principal amount of this Note
                                         into fully paid and non-assessable shares of Common Stock in accordance with the stated
                                         Conversion Price. 

 

		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.

 

		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 free trading shares at the Conversion Price.

 

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

 

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 hereof 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.

 

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 was delivered,
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.

 

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.

 

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.

 

Penalty
for Delinquent Response. If 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 and within three business
days of the Conversion Date, the Company shall be deemed in “Default of Conversion.” As of the day the Company is
deemed in Default of Conversion, there shall accrue a penalty of Additional Shares due to Holder equal to 25% of the number stated
in the Conversion Notice beginning on the Fourth business day after the date of the Notice. The Additional Shares shall be issued
and the amount of the Note retired will not be reduced beyond that stated in the Conversion Notice. Each additional 5 business
days beyond the Fourth business day after the date of this Notice shall accrue an additional $18,875 penalty for delinquency,
without any corresponding reduction in the amount due under the Note, for so long as Company fails to provide the Shares so demanded.
Any time after a Default of Conversion the Holder may, at their sole discretion, rescind the Conversion.

 

    	2

    	 

    

 

Rescindment
of Conversion Notice. If (i) the Company fails to respond to Holder within one business day from the date of Conversion confirming
the details of Conversion, (ii) the Company fails to provide the Shares requested in the Conversion Notice within three business
days from the date of Conversion, (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, (iv) the Holder is unable to deposit the Shares requested
in the Conversion Notice for any reason related to the Company's standing, or (v) 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 Conversion, the Holder maintains the option
and sole discretion to rescind the Conversion Notice ("Rescindment") with a "Notice of Rescindment."

 

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 Convertible 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 legal fees in the amount of $2,000 from the principal payment of the Convertible Note. The Holder will
deduct 3rd party due diligence fees in the amount of $3,000 from the principal payment of the Convertible Note.

 

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 Holders: 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 or 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 Holders of a majority of the Conversion Amount
                                         of the Notes then outstanding) to ensure that each of the Holders 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 such Holder’s Note, such shares of stock, securities or 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 such Holder’s Note as of the date of such Organic Change (without
                                         taking into account any limitations or restrictions on the convertibility of the Note).
                                         All provisions of this Note must be included to the satisfaction of Holder in any new
                                         Note created pursuant to this section.

 

		4.	Representations
                                         and Warranties of the Company. In connection with the transactions provided for herein,
                                         the Company hereby represents and warrants to the Holders 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 Notes 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
                                         Notes 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 loan provided for herein is appropriate for the Company
                                         after reasonable inquiry concerning its financial objectives and financial situation.

 

    	3

    	 

    

 

 

		5.	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 Common
                                         Stock, solely for the purpose of effecting the conversion of the Note, such number
                                         of shares of Common Stock as shall at all times be sufficient to effect the conversion
                                         of all of the principal amount of the Note then outstanding. The initial number of shares
                                         of Common Stock reserved for conversions of the Notes shall be calculated as three times
                                         the number of shares necessary to convert the entire value of the Note on the day it
                                         was executed, and each increase in the number of shares so reserved shall be allocated
                                         pro rata among the Holders of the Note based on the principal and interest amount of
                                         the Notes held by each Holder at the time of issuance of the Notes or increase in the
                                         number of reserved shares, as the case may be. In the event a Holder shall sell or otherwise
                                         transfer any of such Holder’s Note, each transferee shall be allocated a pro rata
                                         portion of the number of reserved shares of Common Stock reserved for such transferor.
                                         Any shares of Common Stock reserved and allocated to any Person which ceases to hold
                                         any Note shall be allocated to the remaining Holders, pro rata based on the principal
                                         amount of the Note then held by such Holders.

 

		6.	Voting
                                         Rights. Holders of this Note shall have no voting rights, except as required by law.

 

		7.	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.

 

		8.	Default
                                         and Remedies.

		a.	Event
                                         of Default. An “Event of Default” is: (i) default for ten (10) days in payment
                                         of interest or Default Interest on this Note; (ii) default in payment of the principal
                                         amount of this Note when due; (iii) failure by the Company for thirty (30) days after
                                         notice to it to comply with any other material provision of this Note; (iv) breach of
                                         any covenants, warranties, or representations by the Company herein; (v) cessation of
                                         operations by the Company or a material subsidiary; (vi) if 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; or (vi) a court
                                         of competent jurisdiction enters an order or decree under any Bankruptcy Law that: (I)
                                         is for relief against the Company in an involuntary case; (2) appoints a Custodian of
                                         the Company or for all or substantially all of its property; or (3) orders the liquidation
                                         of the Company or any subsidiary, and the order or decree remains unstayed and in effect
                                         for thirty (30) days. 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 and is continuing, the Holder of this Note may declare
                                         all of this Note, including any interest and Default Interest and other amounts due,
                                         to be due and payable immediately.

 

		9.	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 holders of a majority of the aggregate
                                         Conversion Amount of the Notes then outstanding.

 

		10.	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 Notes, 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 into Common Stock.

 

    	4

    	 

    

 

 

		11.	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.

 

		12.	Cancellation.
                                         After all principal and accrued interest at any time owed on this Note has been paid
                                         in full, this Note shall automatically be deemed canceled, shall be surrendered to the
                                         Company for cancellation and shall not be reissued.

 

		13.	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.

 

		14.	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 by 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.

 

		15.	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 a 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 each Holder of Notes 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).

 

		16.	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 all Holders and shall not be construed against
                                         any person as the drafter hereof.

 

		17.	Failure
                                         or Indulgence Not Waiver. No failure or delay on the part of this Note 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 privilege.

 

    	5

    	 

    

 

		18.	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 lender 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. 

 

19.  
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 the Parties.

 

		20.	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.

 

		21.	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 address specified on the signature page. The physical
                                         address, email address, and phone number provided on the signature page 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.

 

		22.	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.

 

		23.	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 or interest on this Note.

 

		24.	Successors
                                         and Assigns. This Agreement shall be binding upon successors and assigns.

 

 

—
SIGNATURE PAGE TO FOLLOW —

 

 

 

 

    	6

    	 

    

 

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

 

COMPANY:

 

 

	Signature:	 	 	 
	 	 	 	 
	 	 	 	 
	By:	 	 	 
	 	 	 	 
	Title:	 	 	 
	 	 	 	 
	Address: 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Email: 	 	 	 
	 	 	 	 
	Phone:	 	 	 
	 	 	 	 
	 	 	 	 
	HOLDER:	 	 	 
	 	 	 	 
	 	 	 	 
	Signature:	 	 	 

 

/s/ Sameer Hirji                     

 

Sameer Hirji, President

JSJ Investments Inc.

6060 North Central Expressway, Suite 500

Dallas TX 75206

888-503-2599

 

 

    	7

    	 

    

 

Exhibit 1

 

Conversion Notice

 

 

Reference is made to the Replacement Convertible
Promissory Note issued by The Player’s Network (the "Note"), dated March 2, 2015 in the principal amount of $75,000
with 12% interest. This note currently holds a principal balance of $PRINCIPAL. The features of conversion stipulate a Conversion
Price the lower of (i) a 42% discount to the average of the two lowest closing prices during the previous ten (10) trading days
to the date of Conversion; or (ii) a 42% discount to the average of the two lowest closing prices during the previous ten (10)
trading days before the date that this note was executed, pursuant to the provisions of Section 2(a)(2) 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.

6060 North Central Expressway, Suite 500*Do not send certificates to this address

Dallas, TX 75206

888-503-2599

 

Tax ID: 20-2122354

 

 

Sameer Hirji, President

 

[DATE]

 

 

[CONTINUED ON NEXT PAGE]

 

    	8

    	 

    

 

PLEASE
BE ADVISED, pursuant to Section 2(e)(2) 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:

 

 

 

 

___________________________

CEONAME

CEO

COMPANY

 

 

 

 

    	9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}]]