Document:

Exhibit 10.1

 

NEITHER
THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE. THESE SECURITIES HAVE BEEN SOLD 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.

 

MYDX,
INC.

 

CONVERTIBLE
NOTE

 

	Issuance Date: May 24,
    2016 	 	Original Principal Amount:      $275,000
	Note No. MYDX-1 	 	Consideration Paid at Close: $50,000

   

FOR
VALUE RECEIVED, MyDx, Inc., a Nevada corporation with a par value of $0.001 per common share (“Par Value”) (the
"Company"), hereby promises to pay to the order of Vista Capital Investments, LLC or registered assigns
(the "Holder") the amount set out above as the Original Principal Amount (as reduced pursuant to the terms hereof
pursuant to redemption, conversion or otherwise, the "Principal") when due, whether upon the Maturity Date (as
defined below), acceleration, redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest ("Interest")
on any outstanding Principal at the applicable Interest Rate from the date set out above as the Issuance Date (the "Issuance
Date") until the same becomes due and payable, upon the Maturity Date or acceleration, conversion, redemption or otherwise
(in each case in accordance with the terms hereof).

 

The
Original Principal Amount is $275,000 (two hundred seventy five thousand) plus accrued and unpaid interest and any other fees.
The Consideration is $250,000 (two hundred fifty thousand) payable by wire transfer (there exists a $25,000 prorated original
issue discount (the “OID”)). The Holder shall pay $50,000 of Consideration upon closing of this Note. The Holder may
pay additional Consideration to the Company in such amounts and at such dates as Holder may choose in its sole discretion. For
purposes hereof, the term “Outstanding Balance” means the Original Principal Amount, as reduced or increased, as the
case may be, pursuant to the terms hereof for conversion, breach hereof or otherwise, plus any accrued but unpaid interest, collection
and enforcements costs, and any other fees, penalties, damages or charges incurred under this Note. The Original Principal Amount
due to Holder shall be prorated based on the Consideration paid by Holder (plus an approximate 10% Original Issue Discount that
is prorated based on the Consideration paid by the Holder as well as any other interest or fees) 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.

 

(1)   GENERAL
TERMS

 

(a)   Payment
of Principal. The "Maturity Date" shall be two years from the date of each payment of Consideration, as
may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below)
shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event
shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that
with the passage of time and the failure to cure would result in an Event of Default.

 

     

     

    

 

(b)    Interest. A one-time interest charge of ten percent (10%) (“Interest Rate”) shall be applied on the
Issuance Date to the Outstanding Balance. Interest hereunder shall be paid on the Maturity Date (or sooner as provided herein)
to the Holder or its assignee in whose name this Note is registered on the records of the Company regarding registration and transfers
of Notes in cash or converted into Common Stock at the Conversion Price provided the Equity Conditions are satisfied.

 

(c)     Security. This Note shall not be secured by any collateral or any assets pledged to the Holder.

 

(2)   EVENTS
OF DEFAULT.

 

(a)   An “Event
of Default”, wherever used herein, means any one of the following events (whatever the reason and whether it shall
be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any
order, rule or regulation of any administrative or governmental body):

(i)      The Company's failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note
(including, without limitation, the Company's failure to pay any redemption payments or amounts hereunder);

 

(ii)      A Conversion Failure as defined in section 3(b)(ii);

 

(iii)     The Company or any subsidiary of the Company shall commence, or there shall be commenced against the Company or any subsidiary
of the Company under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the
Company or any subsidiary of the Company commences any other proceeding under any reorganization, arrangement, adjustment of debt,
relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect
relating to the Company or any subsidiary of the Company or there is commenced against the Company or any subsidiary of the Company
any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of 61 days; or the Company or any subsidiary
of the Company is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding
is entered; or the Company or any subsidiary of the Company suffers any appointment of any custodian, private or court appointed
receiver or the like for it or any substantial part of its property which continues undischarged or unstayed for a period of sixty
one (61) days; or the Company or any subsidiary of the Company makes a general assignment for the benefit of creditors; or the
Company or any subsidiary of the Company shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay,
its debts generally as they become due; or the Company or any subsidiary of the Company shall call a meeting of its creditors
with a view to arranging a composition, adjustment or restructuring of its debts; or the Company or any subsidiary of the Company
shall by any act or failure to act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or
any corporate or other action is taken by the Company or any subsidiary of the Company for the purpose of effecting any of the
foregoing;

 

(iv)      The Company or any subsidiary of the Company shall default in any of its obligations under any other Note or any mortgage, credit
agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or
by which there may be secured or evidenced any indebtedness for borrowed money or money due under any long term leasing or factoring
arrangement of the Company or any subsidiary of the Company in an amount exceeding $100,000, whether such indebtedness now exists
or shall hereafter be created; and

 

    	 	2	 

     

    

 

(v)       The Common Stock is suspended or delisted for trading on the Over the Counter OTCQB Venture Marketplace or OTCPink Open Marketplace
(the “Primary Market”).

 

(vi)     (Reserved)

 

(vii)    The Company loses its status as “DTC Eligible.”

 

(viii)   The Company shall become late or delinquent in its filing requirements as a fully-reporting issuer registered with the Securities
& Exchange Commission.

 

(ix)     The Company shall fail to reserve and keep available out of its authorized Common Stock a number of shares equal to at least 4
(four) times the full number of shares of Common Stock issuable upon conversion of all outstanding amounts under this Note.

 

(b)   Upon the occurrence of any Event of Default (without the need for any party to give any notice or take any other action), the
Outstanding Balance shall immediately and automatically increase to 120% of the Outstanding Balance immediately prior to the occurrence
of the Event of Default (the “Default Sum”). Upon the occurrence of any Event of Default, the Note shall become immediately
due and payable and the Company shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to
the Default Sum, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs,
including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other
rights and remedies available at law or in equity.

 

(3)   CONVERSION
OF NOTE.   This Note shall be convertible into shares of the Company's Common Stock, on the terms and conditions set
forth in this Section 3.

 

(a)   Conversion
Right. Subject to the provisions of Section 3(c), at any time or times on or after the Issuance Date, the Holder shall be
entitled to convert any portion of the outstanding and unpaid Conversion Amount (as defined below) into fully paid and
nonassessable shares of Common Stock in accordance with Section 3(b), at the Conversion Price (as defined below). The number
of shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to this Section 3(a) shall be equal to
the quotient of dividing the Conversion Amount by the Conversion Price. The Company shall not issue any fraction of a share
of Common Stock upon any conversion. If the 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. The Company shall pay any and
all transfer agent fees, legal fees, costs and any other fees or costs that may be incurred or charged in connection with the
issuance of shares of the Company’s Common Stock to the Holder arising out of or relating to the conversion of this
Note.

 

(i)      "Conversion Amount" means the portion of the Original Principal Amount and Interest to be converted, plus any
penalties, redeemed or otherwise with respect to which this determination is being made.

 

(ii)     "Conversion Price" shall equal 50% of the average of the two (2) lowest trading prices occurring during the fifteen
(15) consecutive Trading Days immediately preceding the applicable Conversion Date on which the Holder elects to convert all or
part of this Note, subject to adjustment as provided in this Note.

 

    	 	3	 

     

    

 

(b)   Mechanics
of Conversion.

 

(i)     Optional Conversion. To convert any Conversion Amount into shares of Common Stock on any date (a "Conversion Date"),
the Holder shall (A) transmit by email, facsimile (or otherwise deliver), for receipt on or prior to 11:59 p.m., New York,
NY Time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit A (the "Conversion
Notice") to the Company. On or before the third Business Day following the date of receipt of a Conversion Notice (the
"Share Delivery Date"), the Company shall (A) if legends are not required to be placed on certificates of Common
Stock pursuant to the then existing provisions of Rule 144 of the Securities Act of 1933 (“Rule 144”) and provided
that the Transfer Agent is participating in the Depository Trust Company's ("DTC") Fast Automated Securities Transfer
Program, credit such aggregate number of shares of Common Stock to which the Holder shall be entitled to the Holder's or its designee's
balance account with DTC through its Deposit Withdrawal Agent Commission system or (B) if the Transfer Agent is not participating
in the DTC Fast Automated Securities Transfer Program, issue and deliver to the address as specified in the Conversion Notice,
a certificate, registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder
shall be entitled which certificates shall not bear any restrictive legends unless required pursuant the Rule 144. If this Note
is physically surrendered for conversion and the outstanding Principal of this Note is greater than the Principal portion of the
Conversion Amount being converted, then the Company shall, upon request of the Holder, as soon as practicable and in no event
later than three (3) Business Days after receipt of this Note and at its own expense, issue and deliver to the holder a new Note
representing the outstanding Principal not converted. 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
upon the transmission of a Conversion Notice.

 

(ii)     Company's Failure to Timely Convert. If within two (2) Trading Days after the Company's receipt of the facsimile or email
copy of a Conversion Notice the Company shall fail to issue and deliver to Holder via “DWAC/FAST” electronic transfer
the number of shares of Common Stock to which the Holder is entitled upon such holder's conversion of any Conversion Amount (a
"Conversion Failure"), the Original Principal Amount of the Note shall increase by $2,000 per day until the Company
issues and delivers a certificate to the Holder or credit the Holder's balance account with DTC for the number of shares of Common
Stock to which the Holder is entitled upon such holder's conversion of any Conversion Amount (under Holder’s and Company’s
expectation that any damages will tack back to the Issuance Date). Company will not be subject to any penalties once its transfer
agent processes the shares to the DWAC system. If the Company fails to deliver shares in accordance with the timeframe stated
in this Section, resulting in a Conversion Failure, the Holder, at any time prior to selling all of those shares, may rescind
any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion
amount returned to the Outstanding Balance with the rescinded conversion shares returned to the Company (under Holder’s
and Company’s expectations that any returned conversion amounts will tack back to the original date of the Note).

 

(iii)    DWAC/FAST Eligibility.   If the Company fails for any reason to deliver to the Holder the Shares by DWAC/FAST electronic transfer (such as by delivering a physical stock certificate),
or if there is a Conversion Failure as defined in Section 3(b)(ii), and if the Holder incurs a Market Price Loss, then at any
time subsequent to incurring the loss the Holder may provide the Company written notice indicating the amounts payable to the
Holder in respect of the Market Price Loss and the Company must make the Holder whole by either of the following options at Holder’s
election:

 

Market
Price Loss = [(High trade price for the period between the day of conversion and the day the shares clear in the Holder’s
brokerage account) x (Number of shares receivable from the conversion)] – [(Net Sales price realized by Holder) x (Number
of shares receivable from the conversion)].

 

    	 	4	 

     

    

 

Option
A – Pay Market Price Loss in Cash. The Company must pay the Market Price Loss by cash payment, and any such cash payment
must be made by the third business day from the time of the Holder’s written notice to the Company.

 

Option
B – Add Market Price Loss to Outstanding Balance. The Company must pay the Market Price Loss by adding the Market Price
Loss to the Outstanding Balance (under Holder’s and the Company’s expectation that any Market Price Loss amounts will
tack back to the Issuance Date).

 

In
the case that conversion shares are not deliverable by DWAC/FAST electronic transfer an additional 10% discount to the Conversion
Price will apply.

 

(iv)     DTC Eligibility & Sub-Penny. If the Company fails to maintain its status as “DTC Eligible” for any reason,
or, if the effective Conversion Price as calculated in Section 3(a)(ii) is less than $0.01 at any time (regardless of whether
or not a Conversion Notice has been submitted to the Company), the Principal Amount of the Note shall increase by ten thousand
dollars ($10,000) (under Holder’s and Company’s expectation that any Principal Amount increase will tack back to the
Issuance Date). In addition, the Conversion Price shall be permanently redefined to equal the lesser of (a) $0.01 or (b) 40% of
the lowest trade occurring during the twenty five (25) consecutive Trading Days immediately preceding the applicable Conversion
Date on which the Holder elects to convert all or part of this Note, subject to adjustment as provided in this Note.

 

(v)     Par Value True-Up. In the event that the Conversion Price is less than Par Value on the Conversion Date, the Holder may
elect to submit a Conversion Notice (attached hereto as Exhibit A) with a conversion price equal to the Company’s Par Value.
In addition, upon written notice from the Holder in the form attached hereto as Exhibit B (the “True-Up Notice”),
the Holder may require the Company, at the Holder’s election, to either (A) issue and deliver to the Holder a number of
shares of Common Stock as equals (X) the Conversion Amount divided by 60% of the lowest trade occurring during the twenty five
(25) consecutive Trading Days immediately preceding the applicable Conversion Date, less (Y) the Conversion Amount divided by
the Par Value (Any additional shares of Common Stock issuable pursuant to this Section 3(b)(v) shall be referred to herein as
“True-Up Shares”), or (B) add to the Outstanding Balance a dollar amount equal to the number of True-Up Shares (as
calculated above) multiplied by the high trade price on the Conversion Date (Any dollar amount added to the Outstanding Balance
pursuant to this Section 3(b)(v) shall be referred to herein as the “True-Up Balance”) (under Holder’s and the
Company’s expectation that any True-Up Balance amounts will tack back to the Issuance Date).

 

(vi)    Book-Entry. Notwithstanding anything to the contrary set forth herein, upon conversion of any portion of this Note in accordance
with the terms hereof, the Holder shall not be required to physically surrender this Note to the Company unless (A) the full Conversion
Amount represented by this Note is being converted or (B) the Holder has provided the Company with prior written notice (which
notice may be included in a Conversion Notice) requesting reissuance of this Note upon physical surrender of this Note. The Holder
and the Company shall maintain records showing the Principal and Interest converted and the dates of such conversions or shall
use such other method, reasonably satisfactory to the Holder and the Company, so as not to require physical surrender of this
Note upon conversion.

 

(c)   
Limitations on Conversions or Trading.

 

(i)   Beneficial
Ownership. The Company shall not effect any conversions of this Note and the Holder shall not have the right to convert
any portion of this Note or receive shares of Common Stock as payment of interest hereunder to the extent that after giving
effect to such conversion or receipt of such interest payment, the Holder, together with any affiliate thereof, would
beneficially own (as determined in accordance with Section 13(d) of the Exchange Act and the rules promulgated thereunder) in
excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to such conversion or
receipt of shares as payment of interest. Since the Holder will not be obligated to report to the Company the number of
shares of Common Stock it may hold at the time of a conversion hereunder, unless the conversion at issue would result in the
issuance of shares of Common Stock in excess of 4.99% of the then outstanding shares of Common Stock without regard to any
other shares which may be beneficially owned by the Holder or an affiliate thereof, the Holder shall have the authority and
obligation to determine whether the restriction contained in this Section will limit any particular conversion hereunder and
to the extent that the Holder determines that the limitation contained in this Section applies, the determination of which
portion of the principal amount of this Note is convertible shall be the responsibility and obligation of the Holder. If the
Holder has delivered a Conversion Notice for a principal amount of this Note that, without regard to any other shares that
the Holder or its affiliates may beneficially own, would result in the issuance in excess of the permitted amount hereunder,
the Company shall notify the Holder of this fact and shall honor the conversion for the maximum principal amount permitted to
be converted on such Conversion Date in accordance with Section 3(a) and, any principal amount tendered for conversion in
excess of the permitted amount hereunder shall remain outstanding under this Note. In the event that the Market
Capitalization of the Company falls below $2,500,000, the term “4.99%” above shall be permanently replaced with
“9.99%”. “Market Capitalization” shall be defined as the product of (a) the closing price of the
Common Stock of the Common stock multiplied by (b) the number of shares of Common Stock outstanding as reported on the
Company’s most recently filed Form 10-K or Form 10-Q. The provisions of this Section may be waived by Holder upon not
less than 65 days prior written notification to the Company.

 

    	 	5	 

     

    

 

(ii)   Capitalization. So
long as this as this Note is outstanding, upon written request of the Holder, the Company shall furnish to the Holder
the then-current number of common shares issued and outstanding, the then-current number of common shares authorized, and the
then-current number of shares reserved for third parties.

 

(d)   Other Provisions.

 

(i)     Share Reservation.   The Company shall at all times reserve and keep available out of its authorized Common Stock a
number of shares equal to at least 4 (four) times the full number of shares of Common Stock issuable upon conversion of all outstanding
amounts under this Note; and within 3 (three) Business Days following the receipt by the Company of a Holder's notice that such
minimum number of shares of Common Stock is not so reserved, the Company shall promptly reserve a sufficient number of shares
of Common Stock to comply with such requirement. The Company will at all times reserve at least 5,000,000 shares of Common Stock
for conversion.

 

(ii)    Prepayment.   During the first 180 days this Note is in effect, upon 10 business days’ notice to Holder (“Notice
Period”), the Company may redeem this Note by paying to the Holder an amount as follows (“Redemption Amount”):
(i) if the redemption is within the first 90 days this Note is in effect, then for an amount equal to 120% of the Outstanding
Balance of this Note along with any interest that has accrued during that period, (ii) if the redemption is after the 90th day
this Note is in effect, but before the 180th day this Note is in effect, then for an amount equal to 130% of the Outstanding Balance
of this Note along with any accrued interest. This Note may not be redeemed after 180 days without written consent of the Holder.
The redemption must be closed and paid for within 3 business days of Company receiving redemption instructions following the Notice
Period or the redemption will be invalid and the Company may not redeem this Note, the holder may convert this note at anytime
after 180 days.

 

(iii)    (Reserved).

 

    	 	6	 

     

    

 

(iv)     All
calculations under this Section 3 shall be rounded up to the nearest $0.00001 or whole share.

 

(v)     Nothing
herein shall limit a Holder's right to pursue actual damages or declare an Event of Default pursuant to Section 2 herein for
the Company's failure to deliver certificates representing shares of Common Stock upon conversion within the period specified
herein and such Holder shall have the right to pursue all remedies available to it at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief, in each case without the need to post a bond or
provide other security. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages
pursuant to any other Section hereof or under applicable law.

 

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

 

(5)   PIGGYBACK REGISTRATION RIGHTS. The Company shall include on the next registration statement the Company files with SEC
(or on the subsequent registration statement if such registration statement is withdrawn) all shares issuable upon conversion
of this Note. Failure to do so will result in liquidated damages of 25% of the outstanding principal balance of this Note, being
immediately due and payable to the Holder at its election in the form of cash payment or addition to the balance of this Note.
The Holder understands that the Company has a pending registration statement with the SEC (File No.: 333-205759), and such registration
statement shall be exempt from granting the holder the piggyback registration rights.

 

(6)   REISSUANCE
OF THIS NOTE.

 

(a)    Assignability. The Company may not assign this Note. This Note will be binding upon the Company and its successors and
will inure to the benefit of the Holder and its successors and assigns and may be assigned by the Holder to anyone of its choosing
without Company’s approval.

 

(b)    Lost, Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking
by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the
Company shall execute and deliver to the Holder a new Note representing the outstanding Principal.

 

(7)   NOTICES.  Any
notices, consents, waivers or other communications required or permitted to be given under the terms hereof must be in
writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the
sending party) (iii) upon receipt, when sent by email; or (iv) one (1) Trading Day after deposit with a nationally recognized
overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile
numbers for such communications shall be those set forth in the communications and documents that each party has provided the
other immediately preceding the issuance of this Note or at such other address and/or facsimile number and/or to the
attention of such other person as the recipient party has specified by written notice given to each other party three (3)
Business Days prior to the effectiveness of such change. Written confirmation of receipt (i) given by the recipient of such
notice, consent, waiver or other communication, (ii) mechanically or electronically generated by the sender's facsimile
machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or (iii)
provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by
facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii)
above, respectively.

 

    	 	7	 

     

    

 

The
addresses for such communications shall be:

 

If to the Company, to:

 

MyDx,
Inc.

6335
Ferris Square, Suite B

San Diego, CA 92121

Attn:
Daniel Yazbeck

E-mail:
daniel@cdxlife.com

 

If
to the Holder:

 

VISTA
CAPITAL INVESTMENTS, LLC

406 9th Avenue, Suite 201

San
Diego, CA 92101

Attn:
David Clark, Principal 

Email:
dclark@vci.us.com

 

(8)    APPLICABLE LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of Nevada,
without giving effect to conflicts of laws thereof. Any action brought by either party against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state courts of California or in the federal courts located in the
city and county of San Diego, in the State of California. Both parties and the individuals signing this Agreement agree to submit
to the jurisdiction of such courts.

 

(9)    WAIVER. Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to
insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that
party of the right thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be
in writing.

 

(10)   LIQUIDATED
DAMAGES. Holder and Company agree that in the event Company fails to comply with any of the terms or provisions of this
Note, Holder's damages would be uncertain and difficult (if not impossible) to accurately estimate because of the
parties' inability to predict future interest rates, future share prices, future trading volumes and other relevant factors.
Accordingly, Holder and Company agree that any fees, balance adjustments, default interest or other charges assessed under
this Note are not penalties but instead are intended by the parties to be, and shall be deemed, liquidated damages (under
Holder's and Company's expectations that any such liquidated damages will tack back to the Closing Date for purposes of
determining the holding period under Rule 144).

 

(11)  Holder agrees that so long as this Note from Company to Holder remains outstanding, Holder will not enter into or effect “short
sales” of the Common Stock or hedging transaction which establishes a net short position with respect to the Common Stock
of Company. Company acknowledges and agrees that upon delivery of a conversion notice by Holder, Holder immediately owns the shares
of Common Stock described in the conversion notice and any sale of those shares issuable under such conversion notice would not
be considered short sales.

 

[Signature
Page Follows]

 

    	 	8	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Convertible Note to be duly executed by a duly authorized officer as of the date
set forth above.

 

	 	COMPANY:

	 	 
	 	MyDx, Inc.

	 	 	 
	 	By:	/s/ Daniel Rida Yazbeck
	 	Name:	Daniel Rida Yazbeck
	 	Title:	Chief Executive Officer

 

	 	HOLDER:

	 	 
	 	VISTA
CAPITAL INVESTMENTS, LLC.

	 	 	 
	 	By:	/s/ David Clark
	 	Name:	David Clark
	 	Title:	Principal

 

[Signature Page to
Convertible Note No. MYDX-1]

     

     

    

 

EXHIBIT
A

 

CONVERSION
NOTICE

 

[Company
Contact, Position]

MyDx, Inc.

[Company
Address]

[Contact
Email Address}

 

The
undersigned hereby elects to convert a portion of the $                 
Convertible Note issued to Vista Capital Investments, LLC on                  
 into Shares of Common Stock of                  
according to the conditions set forth in such Note as of the date written below.

 

By
accepting this notice of conversion, you are acknowledging that the number of shares to be delivered represents less than 10%
(ten percent) of the common stock outstanding. If the number of shares to be delivered represents more than 9.99% of the common
stock outstanding, this conversion notice shall immediately automatically extinguish and debenture Holder must be immediately
notified.

 

	Date
    of Conversion: 	 	 
	 	 	 
	Conversion
    Amount: 	 	 
	 	 	 
	Conversion
    Price: 	 	 
	 	 	 
	Shares
    to be Delivered:	 	 

 

Shares
delivered in name of:

 

VISTA
CAPITAL INVESTMENTS, LLC

 

	Signature:	 
	 	By:	                         
	 	Title:	 
	 	Vista
    Capital Investments, LLC

 

     

     

    

 

EXHIBIT
B

 

TRUE-UP
NOTICE

 

[Company
Contact, Position]

MyDx, Inc.

[Company
Address]

[Contact
Email Address}

 

The
undersigned hereby gives notice to MyDx, Inc., a                   
corporation (the "Company"), pursuant to that certain Note dated              
     , 20     by and between the Company and the Holder (the "Note"),
that the Holder elects to:

 

	 	__	Receive fully paid and non-assessable True-Up Shares
pursuant to Section 3(b)(v) of the Note (such Additional Origination Shares shall be calculated as set forth below), or

 

	 	__	Add to the Outstanding Balance a dollar amount equal
to the True-Up Amount (such True-Up Amount shall be calculated as set forth below).

 

The
number of True-Up Shares Holder is entitled to receive is calculated as follows:

 

Conversion
Amount ($      ) /       % of the lowest trade
occurring during the              
(      ) consecutive Trading Days immediately preceding the applicable Conversion Date
($   .      ) - Conversion Amount
($      ) divided by the Par Value
($   .      ) =

 

____________
True-Up Shares

 

The
amount of True-Up Balance to be added to the Outstanding Balance is calculated as follows:

 

Number
of True-Up Shares (        ) * high trade price on the Conversion Date ($_.      )=

 

____________
True-Up Balance

 

Shares
delivered in name of:

 

VISTA
CAPITAL INVESTMENTS, LLC

 

	Signature:	 
	 	By:	                         
	 	Title:	 
	 	Vista
    Capital Investments, LLCExhibit

Exhibit 10.43

THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT

This THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of May 26, 2016 (the “Third Amendment Date”), is by and among (a) ALIMERA SCIENCES LIMITED, a company registered under the laws of England and Wales under company number 08018355 and having its registered office at Centaur House, Ancells Road, Fleet, Hampshire, United Kingdom, GU51 2UJ (“Borrower”), (b) Hercules Capital Funding Trust 2014-1, a statutory trust created and existing under the laws of the State of Delaware (“Lender”) and (c) HERCULES CAPITAL, INC., a Maryland corporation (formerly known as Hercules  Technology Growth Capital, Inc.), in its capacity as administrative agent for itself and Lender (in such capacity, the “Agent”).  
WHEREAS, Borrower, Lender and the Agent are parties to a certain Loan and Security Agreement, dated as of April 24, 2014, as amended by a First Amendment to Loan and Security Agreement dated as of November 2, 2015 and a Second Amendment to Loan and Security Agreement dated as of March 14, 2016 (as the same may from time to time be amended, modified or supplemented in accordance with its terms, the “Loan Agreement”); and
WHEREAS, in accordance with Section 11.3 of the Loan Agreement, Borrower and Lender desire to amend the Loan Agreement as provided herein.
NOW THEREFORE, in consideration of the mutual agreements contained in the Loan Agreement and herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.    Defined Terms.  Subject to the satisfaction of the conditions set forth in Section 3 of this Amendment, as of the Third Amendment Date, the Loan Agreement is hereby amended as follows: 
(a)The following term set forth in Section 1.1 of the Loan Agreement is hereby amended in its entirety and replaced with the following: 
“Liquidity” means the sum of (i) the Consolidated Group’s unrestricted cash on deposit in Deposit Accounts located in the United States that are subject to an Account Control Agreement plus (ii) the Consolidated Group’s and their Subsidiaries’ unrestricted cash on deposit in Deposit Accounts in the United Kingdom that are subject to a first lien perfected security interest in favor of Agent plus (iii) 80% of Eligible Accounts Receivable plus (iv) the Consolidated Group’s and their Subsidiaries’ unrestricted cash located outside of the United States or the United Kingdom even if such cash is not subject to a first lien perfected security interest in favor of the Agent; provided that amounts as described in clause (iv) greater than $2,000,000 shall not be permitted to apply to the sum.
2.    Amendments to Loan Agreement.  Except as those expressly amended in this Amendment, all of the terms and conditions of the Loan Agreement and the other Loan Documents remain in full force and effect. 
3.    Conditions to Effectiveness.  Lender and Borrower agree that this Amendment shall become effective upon the satisfaction of the following conditions precedent, each in form and substance satisfactory to Lender:

(a)Lender shall have received a fully-executed counterpart of this Amendment signed by Borrower; and

(b)The Agent and Lender shall have received payment for all reasonable and documented out-of-pocket fees and expenses incurred by the Agent and Lender in connection with this Amendment, including, but not limited to, all legal fees and expenses, payable pursuant to Section 11.11 of the Loan Agreement. 
4.    Representations and Warranties.  Borrower hereby represents and warrants to Lender as follows:
(a)Representations and Warranties in the Agreement.  The representations and warranties of Borrower set forth in Section 5 of the Loan Agreement are true and correct in all material respects on and as of the Third Amendment Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date.

(b)Authority, Etc.  The execution and delivery by Borrower of this Amendment and the Warrant Amendment and the performance by Borrower of all of its agreements and obligations under the Loan Agreement, the Warrant and the other Loan Documents, as amended hereby, are within the corporate or limited liability company authority, as applicable, of Borrower and have been duly authorized by all necessary corporate action on the part of Borrower.  With respect to Borrower, the execution and delivery by Borrower of this Amendment and the Warrant Amendment does not and will not require any registration with, consent or approval of, or notice to any Person (including any governmental authority).

(c)Enforceability of Obligations.  This Amendment, the Warrant Amendment, the Loan Agreement, the Warrant and the other Loan Documents, as amended hereby, constitute the legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their terms, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium, general equitable principles or other laws relating to or affecting generally the enforcement of, creditors’ rights and except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion of the court before which any proceeding therefor may be brought.

(d)No Default.  Immediately after giving effect to this Amendment (i) no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default, and (ii) no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing.
5.    Reaffirmations.  Except as expressly provided in this Amendment, all of the terms and conditions of the Loan Agreement and the other Loan Documents remain in full force and effect.  Nothing contained in this Amendment or the Warrant Amendment shall in any way prejudice, impair or effect any rights or remedies of Lender under the Loan Agreement, the Warrant and the other Loan Documents.  Except as specifically amended hereby, Borrower hereby ratifies, confirms, and reaffirms all covenants contained in the Loan Agreement, the Warrant and the other Loan Documents.  The Loan Agreement, together with this Amendment, shall be read and construed as a single agreement.  All references in the Loan Documents to the Loan Agreement or any other Loan Document shall hereafter refer to the Loan Agreement or such other Loan Document as amended hereby.

2

6.    Execution in Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but which together shall constitute one instrument.
7.    Miscellaneous.  
(a)    THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, EXCLUDING CONFLICT OF LAWS PRINCIPLES THAT WOULD CAUSE THE APPLICATION OF LAWS OF ANY OTHER JURISDICTION.  
(b)    The captions in this Amendment are for convenience of reference only and shall not define or limit the provisions hereof.
(c)    This Amendment expresses the entire understanding of the parties with respect to the transactions contemplated hereby. No prior negotiations or discussions shall limit, modify, or otherwise affect the provisions hereof.
(d)    Any determination that any provision of this Amendment or any application hereof is invalid, illegal or unenforceable in any respect and in any instance shall not affect the validity, legality, or enforceability of such provision in any other instance, or the validity, legality or enforceability of any other provisions of this Amendment.

[Signature Page Follows]

3

IN WITNESS WHEREOF, Borrower, Lender and the Agent have duly executed and delivered this Amendment as of the day and year first above written.

BORROWER:

ALIMERA SCIENCES LIMITED 

Signature:    /s/ C. Daniel Myers
Print Name:    C. Daniel Myers
Title:        Director

Accepted in Palo Alto, California:
LENDER:
Hercules Capital Funding Trust 2014-1, a statutory trust created and existing under the laws of the State of Delaware 
By: 
By:
Signature:    /s/ Ben Bang
Print Name:    Ben Bang
Title:        Associate General Counsel

AGENT:
HERCULES CAPITAL, INC.
f/k/a HERCULES TECHNOLOGY GROWTH CAPITAL, INC. 

Signature:    /s/ Ben Bang
Print Name:    Ben Bang

4

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