Document:

Exhibit 10.11

 

Note Agreement

(the “Agreement”)

  

	FACE AMOUNT	$35,000
	PRICE	$30,000
	ISSUANCE DATE	November XX, 2012
	MATURITY DATE	May XX, 2013

  

FOR
VALUE RECEIVED, PLAYERS NETWORK, a
Nevada corporation (the “Company”), (OTC BB: PNTV) hereby promises to pay Dutchess
Opportunity Fund, II, LP. (the “Holder”) on May XX, 2013 (the “Maturity Date”), or
earlier, the Face Amount of Thirty-Five Thousand Dollars ($35,000) U.S., plus accrued and unpaid amounts due under this Agreement,
in such amounts, at such times and on such terms and conditions as are specified herein. The Company and the Holder are
sometimes hereinafter collectively referred to as the “Parties” and each a “Party” to this
Agreement.

 

WHEREAS, the Company desires
to finance, from the Holder, its operations; and,

 

WHEREAS, the Holder desires
to finance those operations of the Company that it deems acceptable upon the terms and conditions set forth in this Agreement;
and,

 

In consideration of the
above recitals, the terms and covenants of this Agreement and other good and valuable consideration, including the payment of
money from Holder to Company, the receipt of which is hereby acknowledged, and intending to be bound hereby, the Parties agree
as follows:

 

Article 1     Closing; Repayment

 

Section 1.1     Closing

 

The Closing Date shall be the date
on which funds are wired to the Company.

 

Section 1.2     Repayment

 

On the ninetieth (90th)
day following Closing, the Company shall make mandatory payment in full to the Holder in the amount of one thousand dollars ($1,000)
per month (each a “Payment”). The balance due on the Face Amount shall be due and payable upon the Maturity Date.

 

The Company may make additional
payments (“Prepayment”) without any penalties.

 

Article 2     Defaults and Remedies

 

Section 2.1     Events of Default. Each of the following shall constitute an “Event of Default” under this Agreement:

 

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(a)     the Company fails to make any Payment on the Face Amount of this Agreement within two (2) business days of the Maturity
Date; or

 

(b)     the Company, pursuant to or within the meaning of any Bankruptcy Law (as hereinafter defined): (i) commences a voluntary
case; (ii) consents to the entry of an order for relief against it in an involuntary case or if such an involuntary case is commenced
against the Company and is not dismissed or stayed within thirty (30) calendar days; (iii) consents to the appointment of a Custodian
(as hereinafter defined) of it or for all or substantially all of its property; (iv) makes a general assignment for the benefit
of its creditors; or (v) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: (A) is for
relief against the Company in an involuntary case; (B) appoints a Custodian of the Company or for all or substantially all of
its property; or (C) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for sixty (60)
calendar days; or

 

(c)     any of the Company’s representations or warranties contained in this Agreement were false when made; or,

 

(d)     the Company breaches any covenant or condition of this Agreement, and such breach, if subject to cure, continues for a
period of five (5) business days.

 

(f)     the Company’s failure to pay any taxes when due
unless such taxes are being contested in good faith by appropriate proceedings and with respect to which adequate reserves have
been provided on the Company’s books; provided, however, that in the event that such failure is curable, the Company shall
have ten (10) business days to cure such failure; or,

 

(g)     an attachment or levy is made upon the Company’s
assets having an aggregate value in excess of twenty-five thousand dollars ($25,000) or a judgment is rendered against the Company
or the Company’s property involving a liability of more than twenty-five thousand dollars ($25,000) which shall not have
been vacated, discharged, stayed or bonded pending appeal within ninety (90) days from the entry hereof; or,

 

(h)     any change in the Company’s condition or affairs
(financial or otherwise) which in the Holder’s reasonable, good faith opinion, would have a Material Adverse Effect; provided,
however, that in the event that such failure is curable, the Company shall have ten (10) business days to cure such failure; or,

 

(i)     any lien in the Collateral in favor of the Holder, except
for liens permitted under the Security Agreement, created hereunder for any reason ceases to be or is not a valid and perfected
lien in such Collateral having a first priority interest in favor of the Holder; or,

 

(j)     If there is a default or other failure to perform in
any agreement to which the Company is a party with a third party or parties resulting in a right by such third party or parties,
whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of $25,000; or

 

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(k)     the indictment or threatened indictment of the Company,
any officer of the Company under any criminal statute, or commencement or threatened commencement of criminal or civil proceeding
against the Company or any officer of the Company pursuant to which statute or proceeding penalties or remedies sought or available
include forfeiture of any of the property of the company; or

 

(l)     all filings including current offerings and their underlying
registration statement are current.

 

As used in this Section 2.1, the term “Bankruptcy
Law” means Title 11 of the United States 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.

 

Section 2.3     Remedies. Upon
the occurrence of an Event of Default, the Holder may enforce its rights to convert the Face Amount, in part or in whole.

 

(a)     The
Holder may elect to convert the Face Amount in whole or in part any time and from time to time following an Event of Default.
Such conversion shall be effectuated by providing the Company, or its attorney, with that portion of the Convertible Debenture
to be converted together with a facsimile or electronic mail of the signed notice of conversion (the “Notice of Conversion”).
The date on which the Notice of Conversion is effective (“Conversion Date”) shall be deemed to be the date
on which the Holder has delivered to the Company a facsimile or electronically mailed the Notice of Conversion (receipt being
via a confirmation of the time such facsimile or electronic mail to the Company as provided by the Holder).

 

(b)     Common Stock to be Issued.Upon
the conversion of the Convertible Debenture by the Holder, the Company shall instruct its transfer agent to issue stock certificates
or DWAC to the Holder. In the event that the Shares underlying the Face Amount is deemed saleable under Rule 144 of the Securities
Act, the Company shall, upon a Notice of Conversion, instruct the transfer agent to issue free trading certificates without restrictive
legends, subject to other applicable securities laws. The Company is responsible to for all costs associated with the issuance
of the shares, including but not limited to the opinion letter, overnight delivery of the certificates and any other costs that
arise. The Company shall act as registrar of the Shares of Common Stock to be issued and shall maintain an appropriate ledger
containing the necessary information with respect to each Convertible Debenture. The Company warrants that no instructions have
been given or will be given to the transfer agent which limit, or otherwise prevent resale and that the Common Stock shall otherwise
be freely resold, except as may be set forth herein or subject to applicable law.

 

(c)     Conversion Rate. The Holder
is entitled to convert the Convertible Debenture Residual Amount, plus accrued interest and penalties, anytime following
the Convertible Closing Date, at the lesser of either (i) sixty percent (60%) of the lowest closing bid price during the twenty
(20) trading days immediately preceding the Notice of Conversion or (ii) seven cents ($.07) per shares (each a “Conversion
Price”). No fractional shares or scrip representing fractions of shares will be issued on conversion, but the number
of shares issuable shall be rounded up to the nearest whole share.

 

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(d)     Nothing contained in the Convertible
Debenture shall be deemed to establish or require the Company to pay interest to the Holder at a rate in excess of the maximum
rate permitted by applicable law. In the event that the rate of interest required to be paid exceeds the maximum rate permitted
by governing law, the rate of interest required to be paid thereunder shall be automatically reduced to the maximum rate permitted
under the governing law and such excess shall be returned with reasonable promptness by the Holder to the Company. In the event
this Section 4.4(d) applies, the Parties agree that the terms of this Note shall remain in full force and effect except
as is necessary to make the interest rate comply with applicable law.

 

(e)     Within two (2) business days after
receipt of the documentation referred to in this Section, the Company shall deliver a certificate for the number of shares of
Common Stock issuable upon the conversion. In the event the Company does not make delivery of the Common Stock as instructed by
Holder within two (2) business days after the Conversion Date, the Company shall pay to the Holder an additional $1,000 per day
in cash; provided, however, that the Company shall not be liable for any amounts under this Section 2.2(e) in the event that the
delay in the issuance of the Common Stock is as a result of actions by the Holder or outside of the control of the Company.

 

(f)     The Company shall at all times
reserve (or make alternative written arrangements for reservation or contribution of shares) and have available all Common Stock
necessary to meet conversion of the Convertible Debentures by the Holder of the entire amount of Convertible Debentures then outstanding.
If, at any time, the Holder submits a Notice of Conversion and the Company does not have sufficient authorized but unissued shares
of Common Stock (or alternative shares of Common Stock as may be contributed by stockholders of the Company) available to effect,
in full, a conversion of the Convertible Debentures (a “Conversion Default,” the date of such default being
referred to herein as the “Conversion Default Date”), the Company shall issue to the Holder all of the shares
of Common Stock which are available. Any Convertible Debentures, or any portion thereof, which cannot be converted due to the
Company’s lack of sufficient authorized common stock (the “Unconverted Debentures”), may be deemed null
and void upon written notice sent by the Holder to the Company. The Company shall provide notice of such Conversion Default (“Notice
of Conversion Default”) to the Holder, by facsimile, within one (1) business days of such default.

 

(g)     The Company acknowledges that its
failure to maintain a sufficient number of authorized but unissued shares of Common Stock to effect in full a conversion of the
Convertible Debentures in full will cause the Holder to suffer irreparable harm, and that the actual damages to the Holder will
be difficult to ascertain. Accordingly, the parties agree that it is appropriate to include in this Agreement a provision for
liquidated damages. The Parties acknowledge and agree that the liquidated damages provision set forth in this section represents
the parties’ good faith effort to quantify such damages and, as such, agree that the form and amount of such liquidated
damages are reasonable, and under the circumstances, do not constitute a penalty. The payment of liquidated damages shall not
relieve the Company from its obligations to deliver the Common Stock pursuant to the terms of this Convertible Debenture.

 

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The Company does hereby
warrant the date of consideration for the Note is the Issuance Date of the Note and shall use all commercially reasonable best
efforts to have an opinion letter stating such for sale under Rule 144. In the event that counsel to the Company fails or refuses
to render an opinion as required to issue the Conversion Shares in accordance with this Article 2 (either with or without restrictive
legends, as applicable), then the Company irrevocably and expressly authorizes counsel to the Holder to render such opinion, attached
as Exhibit A and incorporate herein by reference. The Transfer Agent shall accept and be entitled to rely on such opinion for
the purposes of issuing the Conversion Shares and Interest Shares. Any costs incurred by Holder for such opinion letter shall
be added to the Face Amount. The Company shall cooperate fully and in a timely manner with the transfer agent for any Company
information requested by the transfer agent.

Article 3Additional Financing and
Registration Statements

 

Section 3.1     The
Company will not enter into any additional financing agreements other than with the Holder, without prior expressed written consent
from the Holder, which can be unreasonably withheld. Failure to do so will result in an Event of Default and the Holder may elect
to take the action outlined in Article 2.

 

Section 3.2     If the Company shall, issue or agree to issue shares, including those on Form S-8, for any to any person, firm or corporation
at terms deemed by the Holder to be more favorable to the other investor than the terms or conditions of this Agreement, then
the Holder is granted the right to modify any such term or condition of the Agreement to be the same as any such term or condition
of any subsequent offering.

 

Section
3.3     The Company agrees that any and all its officers, insiders, affiliates or other related parties shall refrain from
selling any Stock, until such time as the Face Amount is paid in full.

 

Article 4     Notice.

 

Any notices, consents,
waivers or other communications required or permitted to be given under the terms of this Agreement 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
a confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one
(1) 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:

 

If to the Company:

 

PLAYERS NETWORK

XXXXXXXXXX

 

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If to the Holder:

 

Dutchess Opportunity Fund,
II, LP

50 Commonwealth Ave, Suite
2

Boston, MA 02116

 

 

Each party shall provide
five (5) business days prior notice to the other party of any change in address, phone number or facsimile number.

 

Article 5     Time

Where this Agreement authorizes
or requires the payment of money or the performance of a condition or obligation on a Saturday or Sunday or a public holiday,
or authorizes or requires the payment of money or the performance of a condition or obligation within, before or after a period
of time computed from a certain date, and such period of time ends on a Saturday or a Sunday or a public holiday, such payment
may be made or condition or obligation performed on the next succeeding business day, and if the period ends at a specified hour,
such payment may be made or condition performed, at or before the same hour of such next succeeding business day, with the same
force and effect as if made or performed in accordance with the terms of this Agreement. A “business day” shall mean
a day on which the banks in New York are not required or allowed to be closed.

 

Article 6     No Assignment

This Agreement
and the terms and conditions herein, shall not be assignable without the written consent of both Parties.

 

Article 7     Rules of Construction.

In this Agreement,
unless the context otherwise requires, words in the singular number include the plural, and in the plural include the singular,
and words of the mascuLine gender include the feminine and the neuter, and when the sense so indicates, words of the neuter gender
may refer to any gender. The numbers and titles of sections contained in the Agreement are inserted for convenience of reference
only, and they neither form a part of this Agreement nor are they to be used in the construction or interpretation hereof. Wherever,
in this Agreement, a determination of the Company is required or allowed, such determination shall be made by a majority of the
Board of Directors of the Company and if it is made in good faith, it shall be conclusive and binding upon the Company and the
Holder of this Agreement.

 

Article 8     Governing Law

The validity, terms,
performance and enforcement of this Agreement shall be governed and construed by the provisions hereof and in accordance with
the laws of the Commonwealth of Massachusetts applicable to agreements that are negotiated, executed, delivered and performed
solely in the Commonwealth of Massachusetts.

 

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Article 9     Litigation

 

The
parties to this agreement will submit all disputes arising under this agreement to arbitration in Boston, MA before a single arbitrator
of the American Arbitration Association (“AAA”). The arbitrator shall be selected by application of the rules of the
AAA, or by mutual agreement of the parties, except that such arbitrator shall be an attorney admitted to practice law in the Commonwealth
of Massachusetts. No party to this agreement will challenge the jurisdiction or venue provisions as provided in this section.
 Nothing in this section shall limit the Holder's right to obtain an injunction for a breach
of this Agreement from a court of law.

 

Article 10     Threshold Amount

 

If at any time if there
is a balance outstanding on the Note, the Company raises any funds from a third-party, whether involving the issuance of debt
or equity, in excess of one dollar ($1.00) (a “Financing”), then the Company shall pay to the Holder one hundred
percent (100%) of the net proceeds therefrom as prepayment of the Note and all accrued and unpaid interest thereon and all penalties,
if any, then due. A Financing will also include the sale by the Company of any of its assets which are deemed to be material to
the Company (excluding assets sold in the normal course of business). All prepayments described in this Article 10 shall
be made to the Holder within three (3) business day of the Company’s receipt of proceeds from the Financing. Failure to
comply with this Article 10 shall constitute an Event of Default (as described in Article 2 hereof).

 

Article 11     Fees & Expenses

 

The Company agrees
to pay for related expenses associated with the proposed transaction of three thousand dollars ($3,000). This amount shall cover,
but is not limited to, the following: due diligence expenses, document creation expenses, closing costs, and transaction administration
expenses. This shall be paid at Closing and deducted from the Price of the Note.

 

Article 12     Indemnification 

 

In consideration of the
Holder's execution and delivery of this Agreement and the acquisition and funding by the Holder hereunder and in addition to all
of the Company's other obligations under the documents contemplated hereby, the Company shall defend, protect, indemnify and hold
harmless the Holder and all of their shareholders, officers, directors, employees, counsel, and direct or indirect investors and
any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with
the transactions contemplated by this Agreement) (collectively, the "INDEMNITEES") from and against any and all actions,
causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith
(irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including
reasonable attorneys' fees and disbursements (the “INDEMNIFIED LIABILITIES’), incurred by any Indemnitee as a result
of, or arising out of, or relating to (i) any misrepresentation or breach of any representation or warranty made by the Company
in the Agreement, or any other certificate, instrument or document contemplated hereby or thereby (ii) any breach of any covenant,
agreement or obligation of the Company contained in the Agreement or any other certificate, instrument or document contemplated
hereby or thereby, except insofar as any such misrepresentation, breach or any untrue statement, alleged untrue statement, omission
or alleged omission is made in reliance upon and in conformity with written information furnished to the Company by, or on behalf
of, the Holder or based on illegal or alleged illegal trading of the Shares by the Holder. To the extent that the foregoing undertaking
by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction
of each of the Indemnified Liabilities which is permissible under applicable law. The indemnity provisions contained herein shall
be in addition to any cause of action or similar rights the Holder may have, and any liabilities the Holder may be subject to.

 

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Article 13     Waiver

 

The Holder's delay
or failure at any time or times hereafter to require strict performance by Company of any undertakings, agreements or covenants
shall not waiver, affect, or diminish any right of the Holder under this Agreement to demand strict compliance and performance
herewith. Any waiver by the Holder of any Event of Default shall not waive or affect any other Event of Default, whether such
Event of Default is prior or subsequent thereto and whether of the same or a different type. None of the undertakings, agreements
and covenants of the Company contained in this Agreement, and no Event of Default, shall be deemed to have been waived by the
Holder, nor may this Agreement be amended, changed or modified, unless such waiver, amendment, change or modification is evidenced
by an instrument in writing specifying such waiver, amendment, change or modification and signed by the Holder.

 

Article 14     Holder Shares; Date of Consideration

 

a.     The Company
shall issue to the Holder fifteen percent (15%) of the Face Amount shares of unregistered, restricted Common Stock (the “Holder
Shares”) equaling XX,XXX Shares, as an incentive for the Holder entering into this Agreement. The Holder Shares shall
be issued and delivered to the Holder upon Closing along with a board resolution authorizing the issuance. The Company’s
failure to issue the Holder Shares shall constitute an Event of Default and the Holder may elect to enforce the remedies outlined
in Article 2 hereof. The Company’s obligation to provide the Holder with the Holder Shares, as set forth herein,
shall survive the termination of this Note and any default on this obligation shall provide the Holder with all rights, remedies
and default provisions set forth in this Note or otherwise available by law.

 

b.     The
Company hereby acknowledges that the date of consideration for the Holder Shares is the date of the Closing and shall use all
commercially reasonable best efforts to facilitate sales under Rule 144 of the Securities Act. The Company shall provide an opinion
letter from counsel within two (2) business days of written request by the Holder stating that the date of consideration for the
Holder Shares is the date of the Closing and submission of proper Rule 144 support documentation. In the event the Company does
not deliver the opinion letter within two business days, the Company shall be in default as outlined in Article 2. In the event
that counsel to the Company fails or refuses to render an opinion as required to issue the Holder Shares in accordance with this
paragraph (either with or without restrictive legends, as applicable), then the Company irrevocably and expressly authorizes counsel
to the Holder to render such opinion and shall authorize the Transfer Agent to accept and to rely on such opinion for the purposes
of issuing the Shares (which is attached as Exhibit B hereto). Any costs incurred by Holder for such opinion letter and any costs
associated with the clearing and depositing of the Holder Shares shall be added to the Face Amount. The Company acknowledges that
for the purposes of this Agreement, the Holder is not deemed an underwriter.

 

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Article 16     Representations and Warranties of the Company

 

a.     It is fully authorized to enter into
this Agreement and to perform hereunder.

 

b.     This Agreement constitutes its legal,
valid and binding obligation.

 

c.     Company is in good standing in the jurisdiction of its
organization and in the Nevada.

 

d.     Company has not received notice or otherwise learned
of actual or imminent bankruptcy, insolvency, or material impairment of the financial condition of the Company.

  

Article 17     Miscellaneous

 

a.     All pronouns and any variations thereof used herein shall be deemed to refer to the masculine, feminine, impersonal, singular
or plural, as the identity of the person or persons may require.

 

b.     Neither this Agreement nor any provision hereof shall be waived, modified, changed, discharged, terminated, revoked or
canceled, except by an instrument in writing signed by the party effecting the same against whom any change, discharge or termination
is sought.

 

c.     Notices required or permitted to be given hereunder shall be in writing and shall be deemed to be sufficiently given when
personally delivered or sent by facsimile transmission: (i) if to the Company, at its executive offices or (ii) if to the Holder,
at the address for correspondence set forth in the Article 6, or at such other address as may have been specified by written notice
given in accordance with this paragraph.

 

d.     This Agreement may be executed in two or more counterparts, all of which taken together shall constitute one instrument.
Execution and delivery of this Agreement by exchange of facsimile copies bearing the facsimile signature of a party shall constitute
a valid and binding execution and delivery of this Agreement by such party. Such facsimile copies shall constitute enforceable
original documents.

 

e.     This Written Agreement represent the FINAL AGREEMENT between the Company and the Holder and may not be contradicted by
evidence of prior, contemporaneous, or subsequent oral agreements of the parties, there are no unwritten oral agreements among
the parties.

 

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f.     The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions
contemplated hereby and thereby will not (i) result in a violation of the Articles of Incorporation, any Certificate of Designations,
Preferences and Rights of any outstanding series of preferred stock of the Company or the By-laws or (ii) conflict with, or constitute
a material default (or an event which with notice or lapse of time or both would become a material default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of, any material agreement, contract, indenture mortgage,
indebtedness or instrument to which the Company or any of its Subsidiaries is a party, or result in a violation of any law, rule,
regulation, order, judgment or decree, including United States federal and state securities laws and regulations and the rules
and regulations of the principal securities exchange or trading market on which the Common Stock is traded or listed (the “Principal
Market”), applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of
its Subsidiaries is bound or affected. Neither the Company nor its Subsidiaries is in violation of any term of, or in default
under, the Articles of Incorporation, any Certificate of Designations, Preferences and Rights of any outstanding series of preferred
stock of the Company or the By-laws or their organizational charter or by-laws, respectively, or any contract, agreement, mortgage,
indebtedness, indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or
its Subsidiaries, except for possible conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
that would not individually or in the aggregate have a Material Adverse Effect. The business of the Company and its Subsidiaries
is not being conducted, and shall not be conducted, in violation of any law, statute, ordinance, rule, order or regulation of
any governmental authority or agency, regulatory or self-regulatory agency, or court, except for possible violations the sanctions
for which either individually or in the aggregate would not have a Material Adverse Effect. The Company is not required to obtain
any consent, authorization, permit or order of, or make any filing or registration (except the filing of a registration statement)
with, any court, governmental authority or agency, regulatory or self-regulatory agency or other third party in order for it to
execute, deliver or perform any of its obligations under, or contemplated by, this Agreement in accordance with the terms hereof
or thereof. All consents, authorizations, permits, orders, filings and registrations which the Company is required to obtain pursuant
to the preceding sentence have been obtained or effected on or prior to the date hereof and are in full force and effect as of
the date hereof. The Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the
foregoing. The Company is not, and will not be, in violation of the listing requirements of the Principal Market as in effect
on the date hereof and on each of the Closing Dates and is not aware of any facts which would reasonably lead to delisting of
the Common Stock by the Principal Market in the foreseeable future.

  

g.     The Company and its “Subsidiaries” (which for purposes of this Agreement means any entity in which the Company,
directly or indirectly, owns capital stock or holds an equity or similar interest) are corporations duly organized and validly
existing in good standing under the laws of the respective jurisdictions of their incorporation, and have the requisite corporate
power and authorization to own their properties and to carry on their business as now being conducted. Both the Company and its
Subsidiaries are duly qualified to do business and are in good standing in every jurisdiction in which their ownership of property
or the nature of the business conducted by them makes such qualification necessary, except to the extent that the failure to be
so qualified or be in good standing would not have a Material Adverse Effect. As used in this Agreement, “Material Adverse
Effect” means any material adverse effect on the business, properties, assets, operations, results of operations, financial
condition or prospects of the Company and its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby
or by the agreements and instruments to be entered into in connection herewith, or on the authority or ability of the Company
to perform its obligations under the Agreement.

 

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h.     Authorization; Enforcement; Compliance with Other Instruments. (i) The Company has the requisite corporate power and authority
to enter into and perform this Agreement, and to issue the Agreement in accordance with the terms hereof and thereof, (ii) the
execution and delivery of the Agreement by the Company and the consummation by it of the transactions contemplated hereby and
thereby, have been duly and validly authorized by the Company's Board of Directors and no further consent or authorization is
required by the Company, its Board of Directors, or its shareholders, (iii) the Agreement has been duly and validly executed and
delivered by the Company, and (iv) the Agreement constitutes the valid and binding obligations of the Company enforceable against
the Company in accordance with their terms, except as such enforceability may be limited by general principles of equity or applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement
of creditors' rights and remedies.

 

i.     The execution and delivery of this Agreement shall not alter any prior written agreements between the Company and the Holder.

 

j.      There are no disagreements of any kind presently existing, or reasonably anticipated by the Company to arise, between
the Company and the accountants, auditors and lawyers formerly or presently employed by the Company, including but not limited
to disputes or conflicts over payment owed to such accountants, auditors or lawyers.

 

k.     All representations made by or relating to the Company of a historical nature and all undertaking described herein shall
relate and refer to the Company, its predecessors, and the Subsidiaries.

 

l.     The only officer, director, employee and consultant stock option or stock incentive plan currently in effect or contemplated
by the Company has been submitted to the Holder or is described with Reports. No other plan will be adopted nor may any options.

 

m.     The Company hereby
represent and warrants to the Holder that: (i) it has voluntarily entered into this Agreement of its own freewill, (ii) it is
not entering into this Agreement under economic duress with this Agreement and anticipated continued financing, (iii) the terms
of this Agreement are reasonable and fair to the Company, (iv) the Company has had independent legal counsel of its own choosing
review this Agreement, advise the Company with respect to this Agreement, and represent the Company in connection with its entering
into this Agreement and (v) the Holder is not an underwriter with respect to this transaction.

 

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IN WITNESS WHEREOF, the Company has duly executed
this Note as of the date first written above.

 

 

		Players Network
	 	 
	 	______________________________
	 	Name: Mark Bradley
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	DUTCHESS OPPORTUNITY FUND, II, LP.
	 	 
	 	______________________________
	 	Name: Douglas Leighton
	 	Title: Director

 

 

 

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EXHIBIT A

 

 

 

Pacific Stock Transfer

4045 South Spencer Street, Suite 403

Las Vegas, NV 89119

 

RE: Removal of Legend

 

To Whom It May Concern:

 

Please use this letter as authorization to have the attached request
for the issuance of free trading shares, pursuant to paragraph Rule 144 of the Securities Act, to Dutchess Opportunity Fund, II,
LP which acquired the fully paid, non-assessable securities.

 

The Company does hereby instruct Pacific Stock Transfer to rely
on the opinion for resale of shares from Trombly Business Law.

 

The Company represents that Dutchess is not recognized has never
been an affiliate of the company.

 

Regards,

 

 

 

Mark Bradley

Chief Executive Officer

PLAYERS NETWORK

 

 

 

13Exhibit 10.12

  

REGISTRATION RIGHTS AGREEMENT

 

Registration Rights
Agreement (the “Agreement”), dated as of November XX, 2012, by
and between PLAYERS NETWORK, a corporation organized under the laws of Nevada, USA (the “Company”), and Dutchess
Opportunity Fund, II, LP, a Delaware Limited Partnership (the “Investor”).

 

Whereas,
in connection with the Investment Agreement by and between the Company and the Investor of this date (the “Investment
Agreement”), the Company has agreed to issue and sell to the Investor up to XX,000,000
shares of the Company’s Common Stock, .001 par value per share (the “Common Stock”), to be purchased pursuant
to the terms and subject to the conditions set forth in the Investment Agreement; and

 

Whereas,
to induce the Investor to execute and deliver the Investment Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute
(collectively, the “1933 Act”), and applicable state securities laws, with respect to the shares of Common Stock
issuable pursuant to the Investment Agreement.

 

Now therefore, in
consideration of the foregoing promises and the mutual covenants contained hereinafter and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

 

Section
1.         DEFINITIONS.

 

As used in this
Agreement, the following terms shall have the following meanings:

 

“Execution
Date” means the date of this Agreement set forth above.

 

“Person”
means a corporation, a limited liability company, an association, a partnership, an organization, a business, an individual, a
governmental or political subdivision thereof or a governmental agency.

 

“Principal
Market” shall mean Nasdaq Capital Market, the NYSE Amex, the New York Stock Exchange, the Nasdaq Global Market, the Nasdaq
Global Select Market or the OTC Bulletin Board, whichever is the principal market on which the Common Stock of the Company is listed.

 

“Register,”
“Registered,” and “Registration” refer to the Registration effected by preparing and filing
one (1) or more Registration Statements in compliance with the 1933 Act and pursuant to Rule 415 under the 1933 Act or any successor
rule providing for offering securities on a continuous basis (“Rule 415”), and the declaration or ordering of
effectiveness of such Registration Statement(s) by the United States Securities and Exchange Commission (the “SEC”).

 

“Registrable
Securities” means (i) the shares of Common Stock issued or issuable pursuant to the Investment Agreement, and (ii) any
shares of capital stock issued or issuable with respect to such shares of Common Stock, if any, as a result of any stock split,
stock dividend, recapitalization, exchange or similar event or otherwise, which have not been (x) included in the Registration
Statement that has been declared effective by the SEC, or (y) sold under circumstances meeting all of the applicable conditions
of Rule 144 (or any similar provision then in force) under the 1933 Act.

 

    	

    	 

    
 

“Registration
Statement” means the registration statement or statements of the Company filed under the 1933 Act covering the Registrable
Securities.

 

All capitalized
terms used in this Agreement and not otherwise defined herein shall have the same meaning ascribed to them as in the Investment
Agreement.

 

Section
2.         REGISTRATION.

 

(a)         
Subject to Section 3(g), the Company shall, within twenty-one (21) days after the date of this Agreement,
file with the SEC the Registration Statement or Registration Statements (as is necessary) on Form S-1 (or, if such form is unavailable
for such a registration, on such other form as is available for such registration), covering the resale of all of the Registrable
Securities, which Registration Statement(s) shall state that, in accordance with Rule 416 promulgated under the 1933 Act, such
Registration Statement also covers such indeterminate number of additional shares of Common Stock as may become issuable upon
stock splits, stock dividends or similar transactions. The Company shall initially register for resale XX,000,000
shares of Common Stock, except to the extent that the SEC requires the share amount to be reduced as a condition of effectiveness.

 

(b)         
Intentionally Omitted.

 

(c)         
The Company agrees not to include any other securities in the Registration Statement covering the Registrable
Securities without the Investor’s prior written consent which the Investor may withhold in its sole discretion. Furthermore,
the Company agrees that it will not file any other Registration Statement for other securities, until thirty calendar days after
the Registration Statement for the Registrable Securities is declared effective by the SEC.

 

Section
3.         RELATED OBLIGATIONS.

At such time as the
Company is obligated to prepare and file the Registration Statement with the SEC pursuant to Section 2(a), the Company
shall have the following obligations with respect to the Registration Statement:

 

(a)         
The Company shall use all commercially reasonable efforts to cause such Registration Statement relating to the
Registrable Securities to become effective within ninety (90) days after the date that the Registration Statement is filed and
shall keep such Registration Statement effective until the earlier to occur of the date on which (A) the Investor shall have sold
all the Registrable Securities; or (B) the Company has no right to sell any additional shares of Common Stock under the Investment
Agreement (the “Registration Period”). The Registration Statement (including any amendments or supplements thereto
and prospectuses contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were made,
not misleading. The Company shall use all commercially reasonable efforts to respond to all SEC comments within ten (10) business
days from receipt of such comments by the Company. The Company shall use all commercially reasonable efforts to cause the Registration
Statement relating to the Registrable Securities to become effective no later than five (5) business days after notice from the
SEC that the Registration Statement may be declared effective. The Investor agrees to provide all information which it is required
by law to provide to the Company, including the intended method of disposition of the Registrable Securities, and the Company’s
obligations set forth above shall be conditioned on the receipt of such information.

 

    	2

    	 

    
 

(b)         
The Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements
to the Registration Statement and the prospectus used in connection with such Registration Statement, which prospectus is to be
filed pursuant to Rule 424 promulgated under the 1933 Act, as may be necessary to keep such Registration Statement effective during
the Registration Period, and, during such period, comply with the provisions of the 1933 Act with respect to the disposition of
all Registrable Securities of the Company covered by such Registration Statement until such time as all of such Registrable Securities
shall have been disposed of in accordance with the intended methods of disposition by the Investor thereof as set forth in such
Registration Statement. In the event the number of shares of Common Stock covered by the Registration Statement filed pursuant
to this Agreement is at any time insufficient to cover all of the Registrable Securities, the Company shall amend such Registration
Statement, or file a new Registration Statement (on the short form available therefor, if applicable), or both, so as to cover
all of the Registrable Securities, in each case, as soon as practicable, but in any event within fifty (50) calendar days after
the necessity therefor arises (based on the then Purchase Price of the Common Stock and other relevant factors on which the Company
reasonably elects to rely), assuming the Company has sufficient authorized shares at that time, and if it does not, within fifty
(50) calendar days after such shares are authorized. The Company shall use commercially reasonable efforts to cause such amendment
and/or new Registration Statement to become effective as soon as practicable following the filing thereof.

 

(c)         
The Company shall make available to the Investor whose Registrable Securities are included in any Registration
Statement and its legal counsel without charge (i) if requested by the Investor, promptly after the same is prepared and filed
with the SEC at least one (1) copy of such Registration Statement and any amendment(s) thereto, including financial statements
and schedules, all documents incorporated therein by reference and all exhibits, the prospectus included in such Registration Statement
(including each preliminary prospectus) and, with regards to such Registration Statement(s), any correspondence by or on behalf
of the Company to the SEC or the staff of the SEC and any correspondence from the SEC or the staff of the SEC to the Company or
its representatives; and (ii) upon the effectiveness of any Registration Statement, the Company shall make available copies of
the prospectus, via EDGAR, included in such Registration Statement and all amendments and supplements thereto.

 

(d)         
The Company shall use commercially reasonable efforts to (i) register and qualify the Registrable Securities
covered by the Registration Statement under such other securities or “blue sky” laws of such states in the United
States as the Investor reasonably requests; (ii) prepare and file in those jurisdictions, such amendments (including post-effective
amendments) and supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof
during the Registration Period; (iii) take such other actions as may be necessary to maintain such registrations and qualifications
in effect at all times during the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify
the Registrable Securities for sale in such jurisdictions; provided, however, that the Company shall not be required in connection
therewith or as a condition thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required
to qualify but for this Section 3(d), or (y) subject itself to general taxation in any such jurisdiction. The Company shall
promptly notify the Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to
the suspension of the registration or qualification of any of the Registrable Securities for sale under the securities or “blue
sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any
proceeding for such purpose.

 

    	3

    	 

    
 

(e)         
As promptly as practicable after becoming aware of such event, the Company shall notify the Investor in writing
of the happening of any event as a result of which the prospectus included in the Registration Statement, as then in effect, includes
an untrue statement of a material fact or omission to state a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading (“Registration Default”)
and use all diligent efforts to promptly prepare a supplement or amendment to such Registration Statement and take any other necessary
steps to cure the Registration Default (which, if such Registration Statement is on Form S-3, may consist of a document to be filed
by the Company with the SEC pursuant to Section 13(a), 13(c), 14 or 15(d) of the 1934 Act (as defined below) and to be incorporated
by reference in the prospectus) to correct such untrue statement or omission, and make available copies of such supplement or amendment
to the Investor. The Company shall also promptly notify the Investor (i) when a prospectus or any prospectus supplement or post-effective
amendment has been filed, and when the Registration Statement or any post-effective amendment has become effective; (ii) of any
request by the SEC for amendments or supplements to the Registration Statement or related prospectus or related information, (iii)
of the Company’s reasonable determination that a post-effective amendment to the Registration Statement would be appropriate,
(iv) in the event the Registration Statement is no longer effective, or (v) if the Registration Statement is stale as a result
of the Company’s failure to timely file its financials or otherwise. If a Registration Default occurs during the period commencing
on the Put Notice Date and ending on the Closing Date, the Company acknowledges that its failure to cure such a Registration Default
within ten (10) business days will cause the Investor to suffer damages in an amount that will be difficult to ascertain.

 

(f)          
The Company shall use all commercially reasonable efforts to prevent the issuance of any stop order or other
suspension of effectiveness of the Registration Statement, or the suspension of the qualification of any of the Registrable Securities
for sale in any jurisdiction and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension
at the earliest possible moment and to notify the Investor holding Registrable Securities being sold of the issuance of such order
and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding concerning the effectiveness
of the Registration Statement.

 

(g)         
The Company shall permit the Investor and one (1) legal counsel, designated by the Investor, to review and comment
upon the Registration Statement and all amendments and supplements thereto at least one (1) calendar day prior to their filing
with the SEC. However, any postponement of a filing of a Registration Statement or any postponement of a request for acceleration
or any postponement of the effective date or effectiveness of a Registration Statement by written request of the Investor (collectively,
the "Investor's Delay") shall not act to trigger any penalty of any kind, or any cash amount due or any in-kind
amount due the Investor from the Company under any and all agreements of any nature or kind between the Company and the Investor.
The event(s) of an Investor's Delay shall act to suspend all obligations of any kind or nature of the Company under any and all
agreements of any nature or kind between the Company and the Investor.

 

(h)         
Intentionally Omitted.

 

    	4

    	 

    
 

(i)           
The Company shall hold in confidence and not make any disclosure of information concerning the Investor unless
(i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information
is necessary to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release of such information
is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction,
(iv) such information has been made generally available to the public other than by disclosure in violation of this Agreement or
any other agreement, or (v) the Investor has consented to such disclosure. The Company agrees that it shall, upon learning that
disclosure of such information concerning the Investor is sought in or by a court or governmental body of competent jurisdiction
or through other means, give prompt written notice to the Investor and allow the Investor, at the Investor’s expense, to
undertake appropriate action to prevent disclosure of, or to obtain a protective order covering such information.

 

(j)           
The Company shall use all commercially reasonable efforts to maintain designation and quotation of all the Registrable
Securities covered by any Registration Statement on the Principal Market. The Company shall pay all fees and expenses in connection
with satisfying its obligation under this Section 3(j)

.

(k)         
Intentionally Omitted.

 

(l)           
The Company shall provide a transfer agent for all the Registrable Securities not later than the effective date
of the first Registration Statement filed pursuant hereto.

 

(m)        
If requested by the Investor, the Company shall (i) as soon as reasonably practical incorporate in a prospectus
supplement or post-effective amendment such information as the Investor reasonably determines should be included therein relating
to the sale and distribution of Registrable Securities, including, without limitation, information with respect to the offering
of the Registrable Securities to be sold in such offering; (ii) make all required filings of such prospectus supplement or post-effective
amendment as soon as reasonably possible after being notified of the matters to be incorporated in such prospectus supplement or
post-effective amendment; and (iii) supplement or make amendments to any Registration Statement if reasonably requested by the
Investor.

 

(n)         
The Company shall use all commercially reasonable efforts to cause the Registrable Securities covered by the
applicable Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be
necessary to facilitate the disposition of such Registrable Securities.

 

(o)         
The Company shall otherwise use all commercially reasonable efforts to comply with all applicable rules and regulations
of the SEC in connection with any registration hereunder.

 

(p)         
Within one (1) business day after the Registration Statement which includes Registrable Securities is declared
effective by the SEC, the Company shall deliver to the transfer agent for such Registrable Securities, with copies to the Investor,
a written notification that such Registration Statement has been declared effective by the SEC.

 

    	5

    	 

    
 

Section
4.         OBLIGATIONS
OF THE INVESTOR. 

 

(a)         
At least five (5) calendar days prior to the first anticipated filing date of the Registration Statement the
Company shall notify the Investor in writing of the information the Company requires from the Investor for the Registration Statement.
It shall be a condition precedent to the obligations of the Company to complete the registration pursuant to this Agreement with
respect to the Registrable Securities and the Investor agrees to furnish to the Company that information regarding itself, the
Registrable Securities and the intended method of disposition of the Registrable Securities as shall reasonably be required to
effect the registration of the resale of such Registrable Securities and the Investor shall execute such documents in connection
with such registration as the Company may reasonably request. The Investor covenants and agrees that, in connection with any sale
of Registrable Securities by it pursuant to the Registration Statement, it shall comply with the “Plan of Distribution”
section of the then current prospectus relating to such Registration Statement.

 

(b)         
The Investor, by its acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of any Registration Statement hereunder.

 

(c)          The
Investor agrees that, upon receipt of written notice from the Company of the happening of any event of the kind described in Section
3(f) or the first sentence of Section 3(e) , the Investor will immediately discontinue disposition of Registrable
Securities pursuant to any Registration Statement(s) covering the resale of such Registrable Securities until the
Investor’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3(f)

or the first sentence of Section 3(e).

 

Section
5.         EXPENSES OF
REGISTRATION. 

 

All reasonable expenses,
other than underwriting discounts and commissions and other than as set forth in the Investment Agreement, incurred in connection
with registrations including comments, filings or qualifications pursuant to Section 2

and Section 3, including, without limitation, all registration, listing and qualifications fees,
printing and accounting fees, and fees and disbursements of counsel for the Company shall be paid by the Company.

 

Section
6.         INDEMNIFICATION.

 

In the event any
Registrable Securities are included in the Registration Statement under this Agreement:

 

    	6

    	 

    
 

(a)          To
the fullest extent permitted by law, the Company, under this Agreement, will, and hereby does, indemnify, hold harmless and
defend the Investor, the directors, officers, partners, employees, counsel, agents, representatives of, and each Person, if
any, who controls, the Investor within the meaning of the 1933 Act or the Securities Exchange Act of 1934, as amended (the
“1934 Act”) (each, an “Indemnified Person”), against any losses, claims,
damages, liabilities, judgments, fines, penalties, charges, costs, attorneys’ fees, amounts paid in settlement or
expenses, joint or several (collectively, “Claims”), incurred in investigating, preparing or defending any
action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or
governmental, administrative or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an
indemnified party is or may be a party thereto (“Indemnified Damages”), to which any of them may become
subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of
or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in the Registration Statement or
any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the
securities or other “blue sky” laws of any jurisdiction in which the Investor has requested in writing that the
Company register or qualify the Shares (“Blue Sky Filing”), or the omission or alleged omission to state a
material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under
which the statements therein were made, not misleading, (ii) any untrue statement or alleged untrue statement of a material
fact contained in the final prospectus for the offer of the Registrable Securities (as amended or supplemented, if the
Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein
any material fact necessary to make the statements made therein, in light of the circumstances under which the statements
therein were made, not misleading, or (iii) any violation or alleged violation by the Company of the 1933 Act, the 1934 Act,
any other law, including, without limitation, any state securities law, or any rule or regulation thereunder relating to the
offer or sale of the Registrable Securities pursuant to the Registration Statement (the matters in the foregoing clauses (i)
through (iii) being, collectively, “Violations”). Subject to the restrictions set forth in Section 6(c) the
Company shall reimburse each Indemnified Person, promptly as such expenses are incurred and are due and payable, for any
reasonable legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such
Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section
6(a): (i) shall not apply to a Claim arising out of or based upon a Violation which is due to the inclusion in the
Registration Statement of the information furnished to the Company by any Indemnified Person expressly for use in
connection with the preparation of the Registration Statement or any such amendment thereof or supplement thereto; (ii) shall
not be available to the extent such Claim is based on (A) a failure of the Investor to deliver or to cause to be delivered
the prospectus made available by the Company; (B) the Indemnified Person’s use of an incorrect prospectus despite being
promptly advised in advance by the Company in writing not to use such incorrect prospectus; (C) the manner of sale of the
Registrable Securities by the Investor or of the Investor’s failure to register as a dealer under applicable securities
laws; (D) any omission of the Investor to notify the Company of any material fact that should be stated in the Registration
Statement or prospectus relating to the Investor or the manner of sale; and (E) any amounts paid in settlement of any Claim
if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably
withheld. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the
Indemnified Person and shall survive the resale of the Registrable Securities by the Investor pursuant to the Registration
Statement; and (iii) shall not be available to the extent the Claim arises out of the gross negligence or willful misconduct
of the Indemnified Person.

 

    	7

    	 

    
 

(b)          In
connection with any Registration Statement in which the Investor is participating, the Investor agrees to severally and
jointly indemnify, hold harmless and defend, to the same extent and in the same manner as is set forth in Section
6(a), the Company, each of its directors, officers, employees, counsel, agents and representatives and each Person, if
any, who controls the Company within the meaning of the 1933 Act or the 1934 Act (each, an “Indemnified
Party”), against any Claim or Indemnified Damages to which any of them may become subject, under the 1933 Act, the
1934 Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each
case to the extent, and only to the extent, that such Violation is due to (i) the inclusion in the Registration Statement of
the written information furnished to the Company by the Investor expressly for use in connection with such Registration
Statement; (ii) a failure of the Investor to deliver or to cause to be delivered the prospectus made available by the Company
or the Investor’s use of an incorrect prospectus despite being timely advised by the Company in writing not to use such
incorrect prospectus; (iii) the Investor’s failure to register as a dealer under applicable securities laws; (iv) the
Investor’s gross negligence or willful misconduct; or (v) any omission of the Investor to notify the Company of any
material fact that should be stated in the Registration Statement or prospectus relating to the Investor or the manner of
sale; and, subject to Section 6(c), the Investor will reimburse any legal or other expenses reasonably incurred by
them in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement contained
in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to
amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Investor,
which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of such Indemnified Party and shall survive the resale of the Registrable Securities by
the Investor pursuant to the Registration Statement.

 

(c)         
Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of
the commencement of any action or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified
Person or Indemnified Party shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section
6, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the
right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly
noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified
Person or the Indemnified Party, as the case may be; provided, however, that an Indemnified Person or Indemnified Party, as the
case may be, shall have the right to retain its own counsel with the fees and expenses to be paid by the indemnifying party, if,
in the reasonable opinion of counsel retained by the Indemnified Person or Indemnified Party, the representation by counsel of
the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential differing
interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding.
The indemnifying party shall pay for only one (1) separate legal counsel for the Indemnified Persons or the Indemnified Parties,
as applicable, and such counsel shall be selected by the Investor, if the Investor is entitled to indemnification hereunder, or
the Company, if the Company is entitled to indemnification hereunder, as applicable. The Indemnified Party or Indemnified Person
shall cooperate fully with the indemnifying party in connection with any negotiation or defense of any such action or Claim by
the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party
or Indemnified Person which relates to such action or Claim. The indemnifying party shall keep the Indemnified Party or Indemnified
Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying
party shall be liable for any settlement of any action, claim or proceeding affected without its written consent; provided, however,
that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without
the consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other
compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified
Party or Indemnified Person of a release from all liability in respect to such Claim. Following indemnification as provided for
hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect
to all third parties, firms or corporations relating to the matter for which indemnification has been made. The failure to deliver
written notice to the indemnifying party within a reasonable time of the commencement of any such action shall not relieve such
indemnifying party of any liability to the Indemnified Person or Indemnified Party under this Section 6, except to the
extent that the indemnifying party is prejudiced in its ability to defend such action.

 

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(d)         
The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of
the Indemnified Party or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying
party may be subject to pursuant to the law.

 

Section
7.         CONTRIBUTION.

 

To the extent
any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the
maximum contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest
extent permitted by law; provided, however, that: (i) no contribution shall be made under circumstances where the maker would
not have been liable for indemnification under the fault standards set forth in Section 6; (ii) no seller of
Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation; and
(iii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.

 

Section
8.         REPORTS UNDER
THE 1934 ACT. 

 

With a view to making
available to the Investor the benefits of Rule 144 promulgated under the 1933 Act or any other similar rule or regulation of the
SEC that may at any time permit the Investor to sell securities of the Company to the public without registration (“Rule
144”), provided that the Investor holds any Registrable Securities which are eligible for resale under Rule 144 and such
information is necessary in order for the Investor to sell such Securities pursuant to Rule 144, the Company agrees to:

 

(a)         
make and keep public information available, as those terms are understood and defined in Rule 144;

 

(b)         
file with the SEC in a timely manner all reports and other documents required of the Company under the 1933 Act
and the 1934 Act so long as the Company remains subject to such requirements (it being understood that nothing herein shall limit
the Company’s obligations under Section 5(c) of the Investment Agreement) and the filing of such reports and other documents
is required for the applicable provisions of Rule 144; and

 

(c)         
furnish to the Investor, promptly upon request, (i) a written statement by the Company that it has complied with
the reporting requirements of Rule 144, the 1933 Act and the 1934 Act applicable to the Company, (ii) a copy of the most recent
annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information
as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration.

 

Section
9.         NO ASSIGNMENT
OF REGISTRATION RIGHTS. 

 

This Agreement and
the rights, agreements or obligations hereunder may not be assigned, by operation of law, merger or otherwise, and without the
prior written consent of the other party hereto, and any purported assignment by a party without prior written consent of the other
party will be null and void and not binding on such other party. Subject to the preceding sentence, all of the terms, agreements,
covenants, representations, warranties and conditions of this Agreement are binding upon, and inure to the benefit of and are enforceable
by, the parties and their respective successors and assigns.

 

    	9

    	 

    
 

Section
10.       AMENDMENT OF REGISTRATION
RIGHTS. 

 

The provisions of
this Agreement may be amended only with the written consent of the Company and the Investor.

 

Section
11.       MISCELLANEOUS. 

 

(a)         
Any notices or other communications required or permitted to be given under the terms of this Agreement 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 or email with the signed document attached in PDF format (provided a confirmation of transmission is mechanically
or electronically generated and kept on file by the sending party); or (iii) one (1) 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:

 

If to the Company:

 

PLAYERS NETWORK

XXXXXXXXXX

 

If to the Investor:

Dutchess Opportunity Fund,
II, LP

50 Commonwealth Ave, Suite
2

Boston, MA 02116

Telephone: (617) 301-4700

 

Each party shall
provide five (5) business days prior notice to the other party of any change in address, phone number, facsimile number ore-mail
address.

 

(b)         
Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in
exercising such right or remedy, shall not operate as a waiver thereof.

 

(c)         
This Agreement and the Investment Agreement constitute the entire agreement among the parties hereto with respect
to the subject matter hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set
forth or referred to herein and therein.

 

(d)         
This Agreement and the Investment Agreement supersede all prior agreements and understandings among the parties
hereto with respect to the subject matter hereof and thereof.

 

    	10

    	 

    
 

(e)         
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect
the meaning hereof. Whenever required by the context of this Agreement, the singular shall include the plural and masculine shall
include the feminine. This Agreement shall not be construed as if it had been prepared by one of the parties, but rather as if
all the parties had prepared the same.

 

(f)          
This Agreement may be executed in two or more identical counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement. This Agreement, once executed by a party, may be delivered to the
other party hereto by facsimile transmission or by e-mail delivery of a PDF format of a copy of this Agreement bearing the signature
of the party so delivering this Agreement.

 

(g)         
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

(h)         
In case any provision of this Agreement is held by a court of competent jurisdiction to be excessive in scope
or otherwise invalid or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable
to the maximum extent possible, and the validity and enforceability of the remaining provisions of this Agreement will not in any
way be affected or impaired thereby.

 

Section
12.       DISPUTES SUBJECT TO ARBITRATION
GOVERNED BY NEVADA LAW. 

 

All disputes arising
under this agreement shall be governed by and interpreted in accordance with the laws of the Commonwealth of Massachusetts, without
regard to principles of conflict of laws. The parties to this agreement will submit all disputes arising under this agreement to
arbitration in Boston, Massachusetts before a single arbitrator of the American Arbitration Association (“AAA”).
The arbitrator shall be selected by application of the rules of the AAA, or by mutual agreement of the parties, except that such
arbitrator shall be an attorney admitted to practice law in the Commonwealth of Massachusetts. No party to this agreement will
challenge the jurisdiction or venue provisions as provided in this section. Nothing contained herein shall prevent the party from
obtaining an injunction.

 

*.*.*

 

    	11

    	 

    
 

SIGNATURE PAGE OF REGISTRATION RIGHTS
AGREEMENT

 

Your signature on
this Signature Page evidences your agreement to be bound by the terms and conditions of the Investment Agreement and the Registration
Rights Agreement as of the date first written above.

 

The undersigned
signatory hereby certifies that he has read and understands the Registration Rights Agreement, and the representations made by
the undersigned in this Registration Rights Agreement are true and accurate, and agrees to be bound by its terms.

 

 

	 	DUTCHESS OPPORTUNITY FUND, II, LP,
	 	 
	 	By:_______________________________
	 	Douglas H. Leighton
	 	Managing Member of:
	 	Dutchess Capital Management, II, LLC
	 	General Partner to:
	 	Dutchess Opportunity Fund, II, LP
	 	 
	 	PLAYERS NETWORK
	 	 
	 	 
	 	By:_______________________________
	 	Mark Bradley
	 	Chief Executive Officer

 

 

12

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