Document:

PROMISSORY NOTE

 

Cdn$63,855 July 27, 2015

 

Pursuant to a Loan Agreement dated
as of the 20th day of May, 2014 among 8401144 Canada Inc. formerly known as Event Cardio Group Inc. (“formerECG”),
2340960 Ontario Inc., an Ontario Corporation which had been the parent of former ECG (the “Company” herein),
as borrower, Taunton Ravenscroft Inc. (“TR”), Gianfranco Bentivoglio (“JB”) and Nicholas
D. Bozza (“NB” and collectively with TR and JB, the “Controlling Shareholders”), as guarantors,
and 2399371 Ontario Inc., an Ontario corporation (the “Lender”), as lender (the “Loan Agreement”),
the Company issued its Promissory Note dated May 20, 2014, in the original principal amount of Cdn$583,000 to Lender (the “Original
Note”) to evidence the loan in such amount (the “Loan”).

 

In connection with a Share Exchange
whereby we, Event Cardio Group, Inc., a Nevada corporation (“Parent”), acquired all of the outstanding shares
of the Company, we agreed to guaranty the Company’s obligations under the Loan Agreement and pledge the shares of the Company
that we acquired in the Share Exchange to Lender as security for our guaranty. Our guaranty is secured by a lien on all of our
assets. In addition, our Controlling Stockholders guaranteed the Company’s obligations under the Loan Agreement with recourse
exclusively to the shares of our common stock that they acquired in the Share Exchange.

 

The Lender has agreed to lend an additional
Cdn$63,855 (the “Additional Loan”) to Parent on the terms set forth herein.

 

FOR VALUE RECEIVED, Parent acknowledges
itself indebted to and covenants with Lender, that it will pay to, or to the order of, Lender at Lender’s offices at 7050
Weston Rd., Suite 400, Woodbridge, ON, L4L 8G7 (or such other address) as the Lender may direct, the sum of FIVE HUNDRED AND EIGHTY
THREE THOUSAND DOLLARS, Cdn$583,000.00 (the “Principal Amount”) of lawful money of Canada plus, interest thereon
at the rate of 12% per annum compounded monthly (“Interest”) as evidenced by the Original Note. Parent further
agrees to pay to the order of Lender the Additional Loan of Cdn$63,855 evidenced by this Note, plus, interest thereon at 12% per
annum compounded monthly (“Interest”) from the date hereof until payment of such amount in full. The amount
due hereunder is secured by a security agreement being executed and delivered simultaneously herewith (the “Security Agreement”)
which Security Agreement also secures Parent’s obligation to pay the Original Note.

 

The entire Principal Amount of this
Note then outstanding shall be paid on or before the Maturity Date, together with all accrued and unpaid Interest thereon. For
the avoidance of doubt, the parties have agreed that the Maturity Date is June 1, 2016 and the Lender hereby confirms that the
Maturity Date of the Original Note has been extended to June 1, 2016.

 

As additional consideration for the
extension of the Original Note and the making of the Cdn$63,855 Loan evidenced hereby, the Parent shall issue to Lender 600,000
shares of its Common Stock and warrants, exercisable for a period of four years at a price of ten cents ($0.10) per share to purchase
600,000 shares of the Parent’s Common Stock

 

At any time prior to the Maturity Date,
the Company and/or the Parent may, at its option, prepay in whole or in part, amounts owing under this Note as provided in the
Loan Agreement.

 

If the Company or the Parent shall
make any payment to Lender in respect of this Note or the Original Note, such payment will be applied first to the costs and fees
owing to the Lender under this Note, second, to the payment of Interest accrued under this Note through the date of payment and
third, to the payment of the Principal Amount of this Note. Upon payment in full of all amounts due under this Note, all payments
in respect of the Original Note or this Note received by Lender will be applied as set forth in the Original Note. If the date
for any payment or prepayment hereunder falls on a day which is not a Business Day, then for all purposes of this Note, the same
shall be deemed to have fallen on the next following Business Day, and such extension of time shall in such case be included in
the computation of payments of interest.

    

    	 

    

 

If an event of default shall occur,
Lender may, at its option, by notice (a “Default Notice”) to the Parent declare the Principal Amount, together
with all accrued and unpaid Interest thereon to be due and payable, without presentment, demand, protest or further notice of
any kind (all of which are hereby expressly waived). Upon giving such a Default Notice, the Lender shall be entitled to be paid
in full the outstanding Principal Amount unpaid hereunder, together with all accrued and unpaid Interest thereon, and any costs
it may have incurred, including reasonable legal fees, and Lender shall be entitled to exercise any and all remedies which may
be available to it under applicable law or otherwise to enforce payment of all such amounts.

 

All accrued and unpaid Interest on
any amount outstanding hereunder which has not become due and payable hereunder and which was not previously paid, shall be paid
in full by the Parent to the Lender on the date which the Principal Amount outstanding hereunder is due and payable, pursuant
to the terms of this Note.

 

No failure or delay by the Lender in
exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right exclude
other further exercises thereof or the exercise of any other right.

 

The Parent hereby waives presentment
for payment, demand, notice of non-payment, notice of protest of this Note, and all other notices in connection with the delivery,
acceptance, performance or enforcement of or default under this Note, and waives diligence in collection or bringing suit with
respect to this Note.

 

This Note is assignable by the Lender.

 

Should this Note become mutilated,
lost, stolen or destroyed, the Company shall, upon being furnished with evidence satisfactory to it of such mutilation, loss,
theft or destruction, issue and deliver a new promissory note of like date and tenor as the one mutilated, lost, stolen or destroyed
in exchange for, in place of and upon cancellation of the mutilated Note or in lieu of or substitution for the mutilated, lost,
stolen or destroyed Note.

 

This Note and all its provisions shall
enure to the benefit of the Lender, its successors and assigns, and shall be binding on the Company, its successors and assigns.

 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF
CONFLICT OF LAWS. THE PARENT IRREVOCABLY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK
AND THE FEDERAL COURTS LOCATED WITHIN NEW YORK CITY IN ANY ACTION OR PROCEEDING WITH RESPECT TO THIS NOTE. SERVICE OF ANY
SUMMONS OR COMPLAINT HEREUNDER AND ANY OTHER PROCESS WHICH MAY BE SERVED ON THE PARENT IN ANY ACTION IN RESPECT HERETO, MAY
BE MADE BY CERTIFIED OR REGISTERED MAIL OR BY RECOGNIZED OVERNIGHT COURIER INCLUDING FEDERAL EXPRESS AND UPS.

 

THE COMPANY AND THE PARENT HEREBY IRREVOCABLY
WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR IN CONNECTION
WITH THIS NOTE.

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OF THE UNITED STATES OR ANY APPLICABLE STATE SECURITIES LAWS. THIS NOTE MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS NOTE UNDER SAID ACT
AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO PARENT THAT SUCH REGISTRATION IS NOT
REQUIRED.

 

The Company shall pay all reasonable
expenses of any nature, whether incurred in or out of court, and whether incurred before or after this Note shall become due at
the Maturity Date or otherwise (including, but not limited to, reasonable legal fees and costs), which Lender may deem necessary
or proper in connection with the satisfaction of the payment of the amounts owing hereunder or the administration, supervision,
preservation, protection of (including, but not limited to, the maintenance of adequate insurance) or the realization upon any
Collateral as defined in the Security Agreement. Lender is authorized to pay at any time and from time to time any or all of such
expenses, add the amount of such payment to the Principal Amount and charge interest thereon at the rates specified herein.

    

    	 

    

Upon payment by the Parent, or its respective successors or permitted assigns,
of the Principal Amount, and all accrued and unpaid Interest outstanding, and payment of all other Obligations (as defined in
the Security Agreement) hereunder, the Lender shall upon request in writing by the Parent its successors or permitted assigns,
delivered to the Lender, deliver up this Note to the Parent, its successors or assigns.

 

In the event that any of the provisions
contained hereby shall be invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired thereby.

 

IN WITNESS WHEREOF the parties have caused this Note
to be signed this 27th day of July, 2015.

 

EVENT CARDIO GROUP, INC.

 

Per:_/s/ John Bentivoglio_______

Name:John Bentivoglio

Title:Director/PresidentSECURITY AGREEMENT

 

THIS SECURITY AGREEMENT,
dated as of July 27, 2015, by and between Event Cardio Group, Inc., a Nevada corporation (“Grantor”) and 2399371
Ontario, Inc., an Ontario corporation (the “Secured Party”).

 

RECITALS

 

Pursuant to a Loan Agreement dated as of the
20th day of May, 2014 among 8401144 Canada Inc. formerly known as Event Cardio Group Inc. (“formerECG”),
2340960 Ontario Inc., an Ontario Corporation which had been the parent of formerECG (the “Company” herein),
as borrower, Taunton Ravenscroft Inc. (“TR”), Gianfranco Bentivoglio (“JB”) and Nicholas
D. Bozza (“NB” and collectively with TR and JB, the “Controlling Shareholders”), as guarantors,
and the Secured Party, as lender (the “Loan Agreement”), the Secured Party loaned Cdn$583,000 to the Company
as evidenced by a Promissory Note dated May 20, 2014 (the “Original Note”).

 

In connection with a Share Exchange whereby
we, Event Cardio Group, Inc., a Nevada corporation, the Grantor hereunder, acquired all of the outstanding shares of the Company,
we agreed to guaranty the Company’s obligations under the Loan Agreement and the Original Note and pledged the shares of
the Company that we acquired in the Share Exchange to the Secured Party as security for our guaranty. Our guaranty is secured
by a lien on all of our assets. In addition, our Controlling Stockholders guaranteed the Company’s obligations under the
Loan Agreement with recourse exclusively to the shares of our common stock that they acquired in the Share Exchange.

 

At Grantor’s request, the Lender has
agreed to lend to Grantor Cdn$63,855 as evidenced by a Promissory Note dated the date hereof. At the request of Lender we have
agreed to confirm our grant of a security interest in all of our assets to secure both our obligation to repay the Original Note
and our obligation to repay the Note, as more fully set forth herein.

 

Accordingly, the parties
hereto hereby agree as follows:

 

DEFINITIONS

 

(a) Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Uniform Commercial Code
as in effect in the State of New York (the “UCC”).

 

(b) The
following capitalized terms used herein shall have the following meanings:

 

“Agreement” shall
mean this Security Agreement and shall include all amendments, modifications and supplements hereto and shall refer to this Security
Agreement as the same may be in effect at the time such reference becomes operative.

 

“Collateral”
shall mean all of the property of Grantor now owned or hereafter acquired, wherever located, together with the proceeds and products
thereof, including without limitation all of Grantor’s:

 

	(a)		Accounts;

	(b)		Equipment;

	(c)		General Intangibles;

	(d)		Instruments;

	(e)		Inventory;

	(f)		Investment Property; and

	(g)		the Negotiable Instruments.

 

“Default”
shall mean a default under the Original Note or the Note.

 

“Event of Default”
shall mean an event of default under the Original Note or the Note.

 

    

    	 

    

“Obligations”
shall mean (i) all obligations, liabilities and indebtedness of Grantor to the Secured Party,  whether now existing
or hereafter created, absolute or contingent, direct or indirect, due or not, whether created directly or acquired by assignment
or otherwise, including, without limitation, obligations, liabilities, and indebtedness of Grantor arising under or relating to
the Original Note and the Note including the payment of amounts that would become due but for the operation of the automatic stay
under Section 362(a) of the Bankruptcy Code, and interest that but for the filing of a petition in bankruptcy with respect to
Grantor would accrue on such obligations, whether or not a claim is allowed against Grantor for such interest in the related bankruptcy
proceeding, and all fees, costs, expenses and indemnity obligations of the Grantor to the Secured Party hereunder.

 

(c)Terms Generally.  The
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the
context may require, pronouns stated in the masculine, feminine or neuter gender shall include the masculine, feminine and the
neuter.  Except as otherwise herein specifically provided, each accounting term used herein shall have the meaning given
to it under Generally Accepted Accounting Principles.  The term “including” shall not be limited or exclusive,
unless specifically indicated to the contrary.  The word “will” shall be construed to have the same meaning
in effect as the word “shall”.  The words “herein”, “hereof” and “hereunder”
and other words of similar import refer to this Agreement as a whole, including the exhibits and schedules hereto, all of which
are by this reference incorporated into this Agreement.

 

I.SECURITY

 

SECTION 1.01. Grant
of Security.  As security for the Obligations, Grantor hereby transfers, assigns and grants to the Secured Party
a security interest in the Collateral.

 

SECTION 1.02. Release
and Satisfaction.  Upon the termination of this Agreement and the indefeasible payment in full of the Obligations,
the Secured Party shall deliver to Grantor, upon request therefor and at Grantor’s expense, releases and satisfactions of
all financing statements, notices of assignment and other registrations of security.

 

II.REPRESENTATIONS AND WARRANTIES

 

SECTION 2.01. Representations
and Warranties With Respect to Security.  Grantor hereby represents and warrants to the Secured Party as follows:

 

(a)Name.  Grantor’s
exact legal name is as set forth above and its state of incorporation is Nevada.

 

(b) Ownership
of Collateral.  Grantor owns all of the Collateral, free and clear of all liens, other than the liens permitted
by the terms hereof.

 

(c) Acquired
Collateral.   The Collateral has been acquired or originated by Grantor in the course of such Grantor’s
business.

 

(f)  Third
Party Locations.  No Collateral is in the possession of, or under the control of, any Person other than a Grantor.

 

(g) Enforceability
of Security Interests.  Upon the execution of this Agreement by Grantor and the filing of financing statements
properly describing the Collateral and identifying Grantor and the Secured Party in the applicable jurisdiction required pursuant
to the UCC, security interests and liens granted to the Secured Party under Section 1.01 hereof shall constitute valid, perfected
and first priority security interests and liens in and to the Collateral of Grantor, other than Collateral which may not be perfected
by filing under the Uniform Commercial Code, and subject to the Liens hereby, in each case enforceable against all third parties
and securing the payment of the Obligations. If the creation of a valid, perfected and first priority interest in any of the Collateral
requires a filing in addition to the financing statements referred to above, upon request of Secured Party Grantor shall promptly
cause the same to be made. In the case of securities and similar instruments, Grantor shall deliver the same to Secured Party
or an escrow agent agreed upon by Grantor and Secured Party.

 

    

    	 

    

III. COVENANTS OF GRANTOR

 

SECTION 3.01. Records;
Location of Collateral.  So long as Grantor shall have any Obligation to the Secured Party: (a) Grantor shall
not change the jurisdiction of its incorporation or move its chief executive office, principal place of business or office at
which is kept its books and records (including computer printouts and programs) from the locations existing on the date hereof;
(b) Grantor shall not establish any offices or other places of business at any other location except for sales locations; (c)
Grantor shall not move any of the Collateral to any location other than those locations existing on the date hereof except for
sales locations opened after the date hereof; or (d) Grantor shall not change its corporate names in any respect, unless, in each
case of clauses (a), (b) (c) and (d) above, (i) Grantor shall have given the Secured Party thirty (30) Business Days’ prior
written notice of its intention to do so, identifying the new location and providing such other information as the Secured Party
deems necessary, and (ii) Grantor shall have delivered to the Secured Party such documentation, in form and substance satisfactory
to the Secured Party and as required by the Secured Party, to preserve the Secured Party’s security interest in the Collateral.

 

SECTION 3.02. Further Actions.

 

(a)Collateral
in the Possession of Third Parties.  If any Collateral is at any time in the possession of any person or entity
other than Grantor or the Secured Party (a “Third Party”), the Grantor shall promptly notify the Secured Party
thereof, and at the Secured Party’s request and option, shall promptly obtain an acknowledgment from the Third Party, in
form and substance satisfactory to the Secured Party that the Third Party holds such collateral for the benefit of the Secured
Party and such Third Party’s agreement to comply, without further consent of the Grantor, at any time with the instructions
of the Secured Party as to such Collateral.

 

(b) General.  Grantor
further agrees, upon the request of the Secured Party and at the Secured Party’s option, to take  any and all
other actions as the Secured Party may determine to be necessary or useful for the attachment, perfection and first priority of,
and the ability of the Secured Party to enforce, the Secured Party’s security interest in any and all of the Collateral,
including without limitation, (i) executing and delivering and where appropriate filing financing statements and amendments relating
thereto under the UCC to the extent, if any, that such Grantor’s signature thereon is required therefor, (ii) causing the
Secured Party’s name to be noted as Secured Party on any certificate of title for a titled good if such notation is a condition
to attachment, perfection or priority of, or the ability of the Secured Party to enforce, the Secured Party’s security interest
in such Collateral, (iii) complying with any provision of any statute, regulation or treaty of the United States as to any Collateral
if compliance with such provision is a condition to attachment, perfection or priority of, or ability of the Secured Party to
enforce the Secured Party’s security interest in such Collateral, (iv) obtaining governmental and other third party waivers,
consents and approvals in form and substance satisfactory to the Secured Party, including, without limitation, any consent of
any licensor, lessor or other persons obligated on Collateral and (v) obtaining waivers from mortgagees and landlords in form
and substance satisfactory to the Secured Party.  Each Grantor further authorizes the Secured Party to file initial
financing statements describing the Collateral, and any amendments thereto.

 

SECTION 3.03. Insurance
and Assessments.  In the event Grantor shall fail to purchase or maintain insurance, or pay any tax, assessment,
government charge or levy, except as the same may be otherwise permitted hereunder or under the Note, or in the event that any
lien, encumbrance or security interest prohibited hereby shall not be paid in full or discharged, or in the event Grantor shall
fail to perform or comply with any other covenant, promise or obligation to the Secured Party hereunder, or under the Note, the
Secured Party may, but shall not be required to, perform, pay, satisfy, discharge or bond the same for the account of Grantor,
and all money so paid by the Secured Party, including reasonable attorney’s fees, shall be deemed to be Obligations.

 

SECTION 3.04. Inspection.  Upon
reasonable notice to Grantor, the Secured Party may, during Grantor’s normal business hours, examine and inspect any Collateral
and may examine, inspect and copy all books and records with respect thereto or relevant to the Obligations.

 

SECTION 3.05. Maintenance
of Corporate Existence.  Grantor shall preserve and maintain its corporate existence and, except as otherwise permitted
pursuant to the Note, shall not merge with or into or consolidate with any other entity.

 

    

    	 

    

SECTION 3.06. Indemnification.  Grantor
agrees to indemnify the Secured Party and hold it harmless from and against any and all injuries, claims, damages, judgments,
liabilities, costs and expenses (including, without limitation, reasonable fees and disbursements of counsel), charges and encumbrances
which may be incurred by or asserted against the Secured Party in connection with or arising out of any assertion, declaration
or defense of the Secured Party’s rights or security interest under the provisions of this Agreement or in connection with
the realization, repossession, safeguarding, insuring or other protection of the Collateral or in connection with the collecting,
perfecting or protecting the Secured Party’s liens and security interests hereunder or under any other Loan Document.

 

IV.POWER OF ATTORNEY; NOTICES

 

SECTION 4.01. Power
of Attorney.   Grantor hereby irrevocably constitutes and appoints the Secured Party and any officer or
agent thereof, with full power of substitution, as its true and lawful attorneys-in-fact with full irrevocable power and authority
in the place and stead of such Grantor or in the Secured Party’s own name, for the purpose of carrying out the terms of
this Agreement after the occurrence and during the continuance of an Event of Default, to take any and all appropriate action
and to execute any and all documents and instruments that may be necessary or useful to accomplish the purposes of this Agreement
and, without limiting the generality of the foregoing, hereby give said attorneys the power and right, on behalf of the Grantor,
upon five (5) days’ notice but without the assent of the Grantor, to (a) upon the occurrence and continuance of an Event
of Default, endorse the names of such Grantor on any checks, notes, drafts or other forms of payment or security that may come
into the possession of the Secured Party or any affiliate of the Secured Party, to sign the Grantor’s name on invoices or
bills-of-lading, drafts against customers, notices of assignment, verifications and schedules, (b) upon the occurrence and continuance
of an Event of Default, sell, transfer, pledge, make any arrangement with respect to or otherwise dispose of or deal with any
of the Collateral consistent with the UCC and (c) upon the occurrence and during the continuance of an Event of Default, do acts
and things which the Secured Party deems necessary or useful to protect, preserve or realize upon the Collateral and the Secured
Party’s security interest therein.  The powers granted herein, being coupled with an interest, are irrevocable
until all of the Obligations are indefeasibly paid in full and this Agreement is terminated.  The powers conferred on
the Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise
any such powers.  Neither the Secured Party nor any attorney-in-fact shall be liable for any act or omission, error
in judgment or mistake of law provided the same is not the result of gross negligence or willful misconduct.

 

SECTION 4.02. Notices.  Upon
the occurrence of an Event of Default, the Secured Party may notify account debtors and other persons obligated on any of the
Collateral that the Collateral has been assigned to the Secured Party or of its security interest therein and to direct such account
debtors and other persons obligated on any of the Collateral to make payment of all amounts due or to become due to a Grantor
directly to the Secured Party and upon such notification and at such Grantor’s expense to enforce collection of any such
Collateral, and to adjust, compromise or settle for cash, credit or otherwise upon any terms the amount of payment thereof.  The
Secured Party may, at any time following the occurrence of an Event of Default, notify the Postal Service authorities to change
the address of delivery of mail to an address designated by the Secured Party.  After making of such a request or the
giving of any such notification, each Grantor shall hold any proceeds of collection of accounts, Chattel Paper, general intangibles,
instruments and other Collateral received by it as trustee for the Secured Party without commingling the same with such Grantor
and shall turn the same over to the Secured Party in the identical form received, together with any necessary endorsements or
assignments.  The Secured Party shall apply the proceeds of collection of such Collateral received by the Secured Party
to the Obligations, in such order as the Secured Party, in its sole discretion, shall determine, such proceeds to be immediately
credited after final payment in cash or other immediately available funds of the items giving rise to them.

 

    

    	 

    

V.           REMEDIES
OF SECURED PARTY

 

SECTION 5.01. Enforcement.  Upon
the occurrence of an Event of Default, the Secured Party shall have, in addition to all of its other rights under this Agreement
and the other Loan Documents by operation of law or otherwise (which rights shall be cumulative), all of the rights and remedies
of a secured party under the UCC and shall have the right, to the extent permitted by law, without charge, to enter Grantor’s
premises, and until it completes the enforcement of its rights in the Collateral subject to its security interest hereunder and
the sale or other disposition of any property subject thereto, take possession of such premises without charge, rent or payment
therefor (through self-help without judicial process and without having first given notice or obtained an order of any court),
or place custodians in control thereof, remain on such premises and use the same for the purpose of completing any work in progress,
preparing any Collateral for disposition, and disposition of or collecting any Collateral.  Without limiting the foregoing,
upon the occurrence of an Event of Default, the Secured Party may, without demand, advertising or notice, all of which Grantor
hereby waives (except as the same may be required by law), sell, lease, license or otherwise dispose of and grant options to a
third party to purchase, lease, license or otherwise dispose of any and all Collateral held by it or for its account at any time
or times in one or more public or private sales or other dispositions, for cash, on credit or otherwise, at such prices and upon
such terms as the Secured  Party, in its sole discretion, deems advisable.  At any such sale the Collateral
or any portion thereof may be sold in one lot as an entirety or in separate parcels as the Secured Party in its sole discretion
deems advisable.  Grantor agrees that if notice of sale shall be required by law such requirement shall be met if such
notice is mailed, postage prepaid, to Grantor at its address set forth above or such other address as it may have, in writing,
provided to the Secured Party, at least ten (10) days before the time of such sale or disposition.  The Secured Party
may postpone or adjourn any sale of any Collateral from time to time by an announcement at the time and place of the sale to be
so postponed or adjourned, without being required to give a new notice of sale.  Notice of any public sale shall be
sufficient if it describes the security of the Collateral to be sold in general terms, stating the amounts thereof, the nature
of the business in which such Collateral was created and the location and nature of the properties covered by the other security
interests or mortgages and the prior liens thereof.  The Secured Party may be the purchaser at any such sale if it is
public, free from any right of redemption, which Grantor also waives, and payment may be made, in whole or in part, in respect
of such purchase price by the application of the Obligations by the Secured Party.  Grantor with respect to its property
constituting such Collateral, shall be obligated for, and the proceeds of sale shall be applied first to, the costs of taking,
assembling, finishing, collecting, refurbishing, storing, guarding, insuring, preparing for sale, and selling the Collateral,
including the fees and disbursements of attorneys, auctioneers, appraisers and accountants employed by the Secured Party.  Proceeds
shall then be applied to the payment, in whatever order the Secured Party may elect, of all of the Obligations.  The
Secured Party shall return any excess to such Grantor or to whomever may be fully entitled to receive the same or as a court of
competent jurisdiction may direct.  In the event that the proceeds of any sale or other disposition of the Collateral
are insufficient to pay in full the Obligations, such Grantor shall remain liable for any deficiency.

 

SECTION 5.02. Standards for Exercising Rights and Remedies.  To
the extent that applicable law imposes duties on the Secured Party to exercise remedies in a commercially reasonable manner, Grantor
acknowledges and agrees that it is not commercially unreasonable for the Secured Party (a) to fail to incur expenses reasonably
deemed significant by the Secured Party to prepare Collateral for disposition or otherwise to fail to complete raw material or
work in process into finished goods or other finished products for disposition, (b) to fail to obtain third party consents for
access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third
party consents for the collection or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection
remedies against account debtors or other persons obligated on Collateral or to fail to remove liens or encumbrances on or any
adverse claims against Collateral, (d) to exercise collection remedies against account debtors and other persons obligated on
Collateral directly or through the use of collection agencies and other collection specialists, (e) to advertise dispositions
of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature,
(f) to contact other persons, whether or not in the same business each Grantor, for expressions of interest in acquiring all or
any portion of the Collateral, (g) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether
or not the collateral is of a specialized nature, (h) to dispose of Collateral by utilizing Internet sites that provide for the
auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers
and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets, 

    

    	 

    

(j) to disclaim disposition warranties,
(k) to purchase insurance or credit enhancements to insure the Secured Party against risk of loss, collection or disposition of
Collateral or to provide to the Secured Party a guaranteed return from the collection or disposition of Collateral, or (l) to
the extent deemed appropriate by the Secured Party, to obtain the services of other brokers, investment bankers, consultants and
other professionals to assist the Secured Party in the collection or disposition of any of the Collateral.  Each Grantor  acknowledges
that the purpose of this Section 5.02 is to provide non-exhaustive indications of what actions or omissions by the Secured Party
would fulfill the Secured Party’s duties under the UCC or the Uniform Commercial Code as in effect in other relevant jurisdiction
in the Secured Party’s exercise of remedies against the Collateral and that other actions or omissions by the Secured Party
shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this Section 5.02.  Without
limitation upon the foregoing, nothing contained in this Section 5.02 shall be construed to grant any rights to each Grantor or
to impose any duties on the Secured Party that would not have been granted or imposed by this Agreement or by applicable law in
the absence of this Section 5.02.

 

SECTION 5.03. Waiver.  Grantor waives any right, to the
extent applicable law permits, to receive prior notice of, or a judicial or other hearing with respect to, any action or prejudgment
remedy or proceeding by the Secured Party to take possession, exercise control over, or dispose of any item of the Collateral
in any instance (regardless of where such Collateral may be located) where such action is permitted under the terms of this Agreement
or any other Loan Document, or by applicable law, or of the time, place or terms of sale in connection with the exercise of the
Secured Party’s rights hereunder and Grantor also waives, to the extent permitted by law, any bond, security or sureties
required by any statute, rule or otherwise by law as an incident to any taking of possession by the Secured Party of property
subject to the Secured Party’s Lien.  Each Grantor further waives any damages (direct, consequential or otherwise)
occasioned by the enforcement of the Secured Party’s rights under this Agreement and any other Loan Document including the
taking of possession of any Collateral all to the extent that such waiver is permitted by law and to the extent that such damages
are not caused by the Secured Party’s gross negligence or willful misconduct.  These waivers and all other waivers
provided for in this Agreement and any other Loan Documents have been negotiated by the parties and each Grantor acknowledges
that it has been represented by counsel of its own choice and has consulted such counsel with respect to its rights hereunder.

 

SECTION 5.04. Other Rights.  Grantor agrees that the Secured
Party shall not have any obligation to preserve rights to any Collateral against prior parties or to proceed first against any
Collateral or to marshall any Collateral of any kind for the benefit of any other creditors of Grantor or any other Person.  The
Secured Party is hereby granted, to the extent that such Grantor is permitted to grant a license or right of use, a license or
other right to use, without charge, labels, patents, copyrights, rights of use, of any name, trade secrets, trade names, trademarks
and advertising matter, or any property of a similar nature of Grantor as it pertains to the Collateral, in completing production
of, advertising for sale, and selling any Collateral and such Grantor’s rights under all licenses and any franchise, sales
or distribution agreements shall inure to the Secured Party’s benefit.

 

SECTION 5.05. Expenses.
Grantor agrees that it shall pay on demand therefor all costs and expenses incurred in amending, implementing, perfecting,
collecting, defending, declaring and enforcing the Secured Party’s rights and security interests in the Collateral hereunder
or under the Note or other instrument or agreement delivered in connection herewith or therewith, including, but not limited to,
searches and filings, and the Secured Party’s reasonable attorneys’ fees (regardless of whether any litigation is
commenced, whether a default is declared hereunder, and regardless of tribunal or jurisdiction).

 

VI.           GENERAL
PROVISIONS

 

SECTION 6.01. Termination.  This
Agreement shall remain in full force and effect until all the Obligations shall have been indefeasibly fully paid and satisfied
and the Note shall have been paid in full and, until such time, the Secured Party shall retain all security in and title to all
existing and future Collateral held by it hereunder.

 

SECTION 6.02. Remedies
Cumulative.  The Secured Party’s rights and remedies under this Agreement shall be cumulative and non-exclusive
of any other rights or remedies which it may have under the Note, or any other agreement or instrument, by operation of law or
otherwise and may be exercised alternatively, successively or concurrently as the Secured Party may deem expedient.

 

    

    	 

    

SECTION 6.03. Binding Effect.  This Agreement is entered
into for the benefit of the parties hereto and their successors and assigns.  It shall be binding upon and shall inure
to the benefit of the said parties, their successors and assigns.  Grantor shall not assign or transfer any of its rights
or obligations hereunder without the prior written consent of the Secured Party and any attempted assignment shall be null and
void.

 

SECTION 6.04. Notices.  Wherever
this Agreement provides for notice to either party (except as expressly provided to the contrary), it shall be in writing and
given in the manner specified in the Note.  

 

SECTION 6.05. Waiver.  No delay or failure on the part
of the Secured Party in exercising any right, privilege, remedy or option hereunder shall operate as a waiver of such or any other
right, privilege, remedy or option, and no waiver shall be valid unless in writing and signed by an officer of the Secured Party
and only to the extent therein set forth.

 

SECTION 6.06. Modifications
and Amendments.  This Agreement and the other agreements to which it refers constitute the complete agreement
between the parties with respect to the subject matter hereof and may not be changed, modified, waived, amended or terminated
orally, but only by a writing signed by the party to be charged.

 

SECTION 6.07. Survival
of Representations and Warranties.  The representations and warranties of Grantor made or deemed made herein
shall survive the execution and delivery of this Agreement.

 

SECTION 6.08. Severability.    Any
provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, in such jurisdiction, be ineffective
to the extent of such invalidity, illegality or uneforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate
such provision in any other jurisdiction.

 

SECTION 6.9.  Applicable Law; Consent to Jurisdiction; Waiver of
Jury Trial.  THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICT OR CHOICE OF LAWS.  GRANTOR HEREBY IRREVOCABLY SUBMITS TO THE
JURISDICTION OF ANY FEDERAL OR STATE COURT IN THE STATE OF NEW YORK, THE CITY OF NEW YORK, IN ANY ACTION, SUIT OR PROCEEDING
BROUGHT AGAINST IT AND RELATED TO OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, AND TO THE
EXTENT PERMITTED BY APPLICABLE LAW, EACH GRANTOR HEREBY WAIVES AND AGREES NOT TO ASSERT BY WAY OF MOTION, AS A DEFENSE OR
OTHERWISE IN ANY SUCH SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF SUCH
COURTS, THAT THE SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM, THAT THE VENUE OF THE SUIT, ACTION OR
PROCEEDING IS IMPROPER, OR THAT THIS AGREEMENT OR ANY DOCUMENT OR ANY INSTRUMENT REFERRED TO HEREIN OR THE SUBJECT MATTER
THEREOF MAY NOT BE LITIGATED IN OR BY SUCH COURTS.  TO THE EXTENT PERMITTED BY APPLICABLE LAW, GRANTOR AGREES (i)
NOT TO SEEK AND HEREBY WAIVES THE RIGHT TO ANY REVIEW OF THE JUDGMENT OF ANY SUCH COURT BY ANY COURT OF ANY OTHER NATION OR
JURISDICTION WHICH MAY BE CALLED UPON TO GRANT AN ENFORCEMENT OF SUCH JUDGMENT AND (ii) NOT TO ASSERT ANY COUNTERCLAIM IN ANY
SUCH SUIT, ACTION OR PROCEEDING UNLESS SUCH COUNTERCLAIM CONSTITUTES A COMPULSORY OR MANDATORY COUNTERCLAIM UNDER APPLICABLE
RULES OF CIVIL PROCEDURE. EACH GRANTOR AGREES THAT SERVICE OF PROCESS MAY BE MADE UPON IT BY CERTIFIED OR REGISTERED MAIL TO
THE ADDRESS FOR NOTICES SET FORTH IN THIS AGREEMENT OR ANY METHOD AUTHORIZED BY THE LAWS OF FLORIDA.  EACH GRANTOR
AND THE SECURED PARTY EACH IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING
OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

SECTION 6.10. Counterparts.  This Agreement may be
executed in two or more counterparts, each of which shall constitute an original but all of which taken together shall constitute
one and the same agreement.

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed by their officers thereunto duly authorized as of the day and
year first above written.

    

    	 

    

 

		 	EVENT CARDIO GROUP, INC.
	 	 	 
		By:	/s/John Bentivoglio
		Name:	John Bentivoglio
		Title: 	Chief Executive Officer
	 	 	 
		 	2399371 ONTARIO, INC.
	 	 	 
		By:	/s/ Frank Sgro
		Name:	Fran Sgro
		Title:	An Authorized Officer

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