Document:

Exhibit
10.115

 

NEITHER
THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE. THESE SECURITIES HAVE BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR
IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS.

 

 

Clean
Energy Technologies Inc.

CONVERTIBLE
PROMISSORY NOTE

 

	Issuance
    Date: August 18, 2020	Original
    Principal Amount: $103,000.00
	Note
    No. CETY-2	Consideration
    Paid at Close: $100,000.00

 

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

 

The
Original Principal Amount is one hundred three thousand dollars ($103,000.00) plus accrued and unpaid interest and any other fees.
The Consideration is one hundred thousand dollars ($100,000.00) payable by wire transfer
(there exists a three thousand dollars ($3,000.00) original issue discount (the “OID”)). The Holder shall pay one
hundred thousand dollars ($100,000.00) of Consideration upon closing of this Note.

 

(1)
GENERAL TERMS

 

(a)
Payment of Principal. The “Maturity Date” shall be eight (8) months
from the date of closing, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default
(as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section
1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1)
that with the passage of time and the failure to cure would result in an Event of Default.

 

(b)
Interest. An interest charge of eight percent (8%) per annum (“Interest Rate”) shall accrue. Interest
hereunder shall be paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note
is registered on the records of the Company regarding registration and transfers of Notes in cash or converted into Common Stock
at the Conversion Price provided the Equity Conditions are satisfied.

 

    	 	 	 

     

    

 

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

pledged
to the Holder.

 

(d)
Amortization Payments. The Company shall make the following amortization payments in cash to the Holder towards the repayment
of this Note, as provided in the following table:

 

	Payment
    Date	 	Payment
    Amount	 
	Day
    60 after the Issue Date	 	$	15,143.50	 
	Day
    90 after the Issue Date	 	$	15,143.50	 
	Day
    120 after the Issue Date	 	$	15,143.50	 
	Day
    150 after the Issue Date	 	$	15,143.50	 
	Day
    180 after the Issue Date	 	$	15,143.50	 
	Day
    210 after the Issue Date	 	$	15,143.50	 
	Day
    240 after the Issue Date	 	$	15,143.50	 

 

 

(2)
EVENTS OF DEFAULT.

 

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

 

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

 

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

 

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

 

(iv)
Except as previously disclosed in the Company’s
filings with the Securities and Exchange Commission, the Company or any subsidiary of the Company shall default in any of its
obligations under any other Note or any mortgage, credit agreement or other facility, indenture agreement, factoring agreement
or other instrument under which there may be issued, or by which there may be secured or evidenced any indebtedness for borrowed
money or money due under any long term leasing or factoring arrangement of the Company or any subsidiary of the Company in an
amount exceeding

$50,000,
whether such indebtedness now exists or shall hereafter be created; and

 

    	 	2	 

     

    

 

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

 

(vi)
The Company loses its ability to deliver shares
via “DWAC/FAST” electronic transfer.

 

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

 

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

 

(ix)
The Company shall fail to reserve and keep available
out of its authorized Common Stock a number of shares equal to at least 2 (two) times the full number of shares of Common Stock
issuable for the conversion of all outstanding amounts under this Note.

 

(b)
Upon the occurrence of any Event of Default that has not been cured within five calendar days from the date of the Event of Default
(a “Cure Failure”), the Outstanding Balance shall immediately increase to 115% of the Outstanding Balance immediately
prior to the occurrence of the Event of Default (the “Default Effect”) and a daily penalty of $500 (five hundred)
will accrue until the default is remedied. The Default Effect shall automatically apply upon the occurrence of an Event of Default
without the need for any party to give any notice or take any other action. Upon the occurrence of any Event of Default, the Note
shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder,
an amount equal to the Outstanding Balance, all without demand, presentment or notice, all of which hereby are expressly waived,
together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled
to exercise all other rights and remedies available at law or in equity.

 

(3)
CONVERSION OF NOTE. The Holder shall have the right, but not the obligation, to convert the Outstanding Balance into shares
of the Company’s Common Stock, on the terms and conditions set forth in this Section 3.

 

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

 

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

 

(ii)
“Conversion Price” shall equal
$0.02 (two) cents, subject to adjustment as provided in this Note. If an Event of Default occurs, the Conversion Price shall be
the lesser of (a). $0.02 (two) cents or (b) 70% of the lowest traded price in the prior fifteen trading days immediately preceding
the Notice of Conversion.

 

    	 	3	 

     

    

 

(b)
Mechanics of Conversion.

 

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

 

(ii)
Company’s Failure to Timely Convert.
If within five (5) Trading Days after the Company’s receipt of the facsimile or email copy of a Conversion Notice the Company
shall fail to issue and deliver to Holder via “DWAC/FAST” electronic transfer the number of shares of Common Stock
to which the Holder is entitled upon such holder’s conversion of any Conversion Amount (a “Conversion Failure”),
the Original Principal Amount of the Note shall increase by $1,000.00 per day until the Company issues and delivers a certificate
to the Holder or credit the Holder’s balance account with DTC for the number of shares of Common Stock to which the Holder
is entitled upon such holder’s conversion of any Conversion Amount (under Holder’s and Company’s expectation
that any damages will tack back to the Issuance Date). Company will not be subject to any penalties once its transfer agent
processes the shares to the DWAC system. If the Company fails to deliver shares in accordance with the timeframe stated in
this Section, resulting in a Conversion Failure, the Holder, at any time prior to selling all of those shares, may rescind any
portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion
amount returned to the Outstanding Balance with the rescinded conversion shares returned to the Company (under Holder’s
and Company’s expectations that any returned conversion amounts will tack back to the original date of the Note). Notwithstanding
the foregoing, if the operations of the transfer agent are closed because of the impact of COVID-19 or any other Act of God not
caused by the Company which delay the agent from issuing the DWAC/FAST order, then, the 5-day time framed in this subparagraph
(ii) shall be tolled until the transfer agent resumes operations.

 

(iii)
DTC Eligibility & Sub-Penny. If the
Company fails to maintain its status as “DTC Eligible” for any reason, or, if the effective Conversion Price as calculated
in Section 3(a)(ii) is less than $0.005 at any time (regardless of whether or not a Conversion Notice has been submitted to the
Company), the Principal Amount of the Note shall increase by ten thousand dollars ($10,000.00) (under Holder’s and Company’s
expectation that any Principal Amount increase will tack back to the Issuance Date). In addition, at all times when the share
price or effective Conversion price is below $0.005 the Conversion Price shall be redefined to equal the lesser of (a) $0.005,
or (b) forty percent (40%) of the lowest trade occurring during the twenty (20) consecutive Trading Days immediately preceding
the applicable Conversion Date on which the Holder elects to convert all or part of this Note, subject to adjustment as provided
in this Note.

 

    	 	4	 

     

    

 

(iv)
Book-Entry. Notwithstanding anything to
the contrary set forth herein, upon conversion of any portion of this Note in accordance with the terms hereof, the Holder shall
not be required to physically surrender this Note to the Company unless (A) the full Conversion Amount represented by this Note
is being converted or (B) the Holder has provided the Company with prior written notice (which notice may be included in a Conversion
Notice) requesting reissuance of this Note upon physical surrender of this Note. The Holder and the Company shall maintain records
showing the Principal and Interest converted and the dates of such conversions or shall use such other method, reasonably satisfactory
to the Holder and the Company, so as not to require physical surrender of this Note upon conversion. Upon payment of the Principal
Amount then due and outstanding and all accrued interest, the Holder shall provide the Company with a letter setting forth that
the Company’s obligations under this Note have been satisfied in their entirety and the date such satisfaction occurred.

 

(c)
Limitations on Conversions or Trading.

 

(i)
Beneficial Ownership. The Company shall
not effect any conversions of this Note and the Holder shall not have the right to convert any portion of this Note or receive
shares of Common Stock as payment of interest hereunder to the extent that after giving effect to such conversion or receipt of
such interest payment, the Holder, together with any affiliate thereof, would beneficially own (as determined in accordance with
Section 13(d) of the Exchange Act and the rules promulgated thereunder) in excess of 4.99% of the number of shares of Common Stock
outstanding immediately after giving effect to such conversion or receipt of shares as payment of interest. Since the Holder will
not be obligated to report to the Company the number of shares of Common Stock it may hold at the time of a conversion hereunder,
unless the conversion at issue would result in the issuance of shares of Common Stock in excess of 4.99% of the then outstanding
shares of Common Stock without regard to any other shares which may be beneficially owned by the Holder or an affiliate thereof,
the Holder shall have the authority and obligation to determine whether the restriction contained in this Section will limit any
particular conversion hereunder and to the extent that the Holder determines that the limitation contained in this Section applies,
the determination of which portion of the principal amount of this Note is convertible shall be the responsibility and obligation
of the Holder. If the Holder has delivered a Conversion Notice for a principal amount of this Note that, without regard to any
other shares that the Holder or its affiliates may beneficially own, would result in the issuance in excess of the permitted amount
hereunder, the Company shall notify the Holder of this fact and shall honor the conversion for the maximum principal amount permitted
to be converted on such Conversion Date in accordance with Section 3(a) and, any principal amount tendered for conversion in excess
of the permitted amount hereunder shall remain outstanding under this Note. In the event that the Market Capitalization of the
Company falls below

$2,500,000.00,
the term “4.99%” above shall be permanently replaced with “9.99%”. “Market Capitalization”
shall be defined as the product of (a) the closing price of the Common Stock of the Common stock multiplied by (b) the number
of shares of Common Stock outstanding as reported on the Company’s most recently filed Form 10-K or Form 10-Q. The provisions
of this Section may be waived by Holder upon not less than sixty-five (65) days prior written notification to the Company.

 

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

 

(d)
Other Provisions.

 

(i)
Share Reservation. The Company shall at
all times reserve and keep available out of its authorized Common Stock a number of shares equal to at least two (2) times the
full number of shares of Common Stock issuable upon conversion of all outstanding amounts under this Note; and within three (3)
Business Days following the receipt by the Company of a Holder’s notice that such minimum number of shares of Common Stock
is not so reserved, the Company shall promptly reserve a sufficient number of shares of Common Stock to comply with such requirement.
The Company will initially reserve at least 25,000,000 shares of Common Stock for conversion without penalty.

 

    	 	5	 

     

    

 

(ii)
Prepayment. The Company may prepay this
Note at any time

 

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

 

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

 

(v)
Terms of Future Financings. So long as
this Note is outstanding, upon any issuance by the Company or any of its subsidiaries of any debt that contains any term more
favorable to the holder of such security or with a term in favor of the holder of such security that was not similarly provided
to the Holder in this Note, then the Company shall notify the Holder of such additional or more favorable term and such term,
at Holder’s option, shall become a part of the transaction documents with the Holder. The types of terms contained in another
security that may be more favorable to the holder of such security include, but are not limited to, terms addressing conversion
discounts, conversion lookback periods, interest rates, original issue discounts, stock sale price, private placement price per
share, and warrant coverage.

 

(4)
REISSUANCE OF THIS NOTE.

 

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

 

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

 

(5)
NOTICES. Any notice required or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall
be deemed effectively given on the earliest of:

 

(a)
the date delivered, if delivered by personal delivery as against written receipt therefor or by e-mail to an executive officer,
or by confirmed facsimile,

 

(b)
the fifth Trading Day after deposit, postage prepaid, in the United States Postal Service by registered or certified mail, or

 

    	 	6	 

     

    

 

(c)
the third Trading Day after mailing by domestic or international express courier, with delivery costs and fees prepaid, in each
case, addressed to each of the other parties thereunto entitled at the following addresses (or at such other addresses as such
party may designate by ten (10) calendar days’ advance written notice similarly given to each of the other parties hereto):

 

The
addresses for such communications shall be:

 

	 	If
    to the Company, to:
	 	 	 
	 	 	Clean
    Energy Technologies, Inc.
	 	 	ATTN:
    Kambiz Mahdi, CEO 2990 Redhill Ave
	 	 	Costa
    Mesa, CA 92626
	 	 	Email:
    Kmahdi @cetyinc.com
	 	 
	 	If
    to the Holder:
	 	 	 
	 	 	Lucas
    Hoppel
	 	 	Phone:
    858-232-5110
	 	 	Email:
    Luke@LGHInvestments.com

 

(6)
APPLICABLE LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of California,
without giving effect to conflicts of laws thereof. Any action brought by either party against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state courts of California or in the federal courts located in the
city of San Diego, in the State of California. Both parties and the individuals signing this Agreement agree to submit to the
jurisdiction of such courts.

 

(7)
WAIVER. Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to
insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that
party of the right thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be
in writing.

 

(8)
LIQUIDATED DAMAGES. Holder and Company agree that in the event Company fails to comply with any of the terms or provisions
of this Note, Holder’s damages would be uncertain and difficult (if not impossible) to accurately estimate because of the
parties’ inability to predict future interest rates, future share prices, future trading volumes and other relevant factors.
Accordingly, Holder and Company agree that any fees, balance adjustments, default interest or other charges assessed under this
Note are not penalties but instead are intended by the parties to be, and shall be deemed, liquidated damages (under Holder’s
and Company’s expectations that any such liquidated damages will tack back to the Closing Date for purposes of determining
the holding period under Rule 144).

 

[Signature
Page Follows]

 

    	 	7	 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	Clean
    Energy Technologies, Inc.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	Kambiz
    Mahdi
	 	 	 
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	HOLDER:
	 	 
	 	LGH
    Investments, LLC
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	Lucas
    Hoppel
	 	 	 
	 	Title:	Managing
    Member

 

[Signature
Page to Note No. CETY-2]

 

    	 		 

     

    

 

EXHIBIT
A

CONVERSION
NOTICE

 

Clean
Energy Technologies, Inc.

Attn:
Kambiz Mahdi

2990
Redhill Avenue

Costa
Mesa, California

 

The
undersigned hereby elects to convert a portion of the $103,000.00 Convertible Note issued to LGH Investments, LLC on August 13,
2020 into Shares of Common Stock of Clean Energy Technologies, Inc. according to the conditions set forth in such Note as of the
date written below.

 

By
accepting this notice of conversion, you are acknowledging that the number of shares to be delivered represents less than ten
percent (8%) of the common stock outstanding. If the number of shares to be delivered represents more than 9.99% of the common
stock outstanding, this conversion notice shall immediately automatically extinguish and debenture Holder must be immediately
notified.

 

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

 

Shares
delivered in name of:

 

LGH
Investments, LLC

 

Signature:                                                         ______________________________Exhibit 10.116

 

THIS
WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
THIS WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT OR APPLICABLE EXEMPTION OR SAFE HARBOR PROVISION.

 

COMMON
STOCK PURCHASE WARRANT

 

CLEAN
ENERGY TECHNOLOGIES, INC.

 

	Warrant
    Shares: 1,500,000	Initial
    Issue Date: August 18, 2020

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, LGH Investments, LLC, a Wyoming
limited liability company, or its assigns (the “Investor” or the “Holder”) is entitled,
upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the
Initial Issue Date (the “Initial Exercise Date”) and on or prior to the close of business on the two (two)
year anniversary of the Initial Exercise Date (as subject to adjustment hereunder, the “Termination Date”),
to subscribe for and purchase from Clean Energy Technologies, Inc., a Nevada corporation (the “Issuer” or the
“Company”), up to 1,500,000 shares (as subject to adjustment herein, the “Warrant Shares”)
of common stock, par value of $0.001, of the Company (the “Common Stock”). The purchase price of one share
of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 1.2.

 

ARTICLE
1

EXERCISE
RIGHTS

 

The
Holder will have the right to exercise this Warrant to purchase shares of Common Stock as set forth below. Capitalized terms used
and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement, dated August
13, 2020 between the Company and the Holder (the “Purchase Agreement”).

 

1.1
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, from
and after the Initial Exercise Date, and then at any time, by delivery to the Company (or such other office or agency of the Company
as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company)
of a duly executed facsimile or emailed copy of the Notice of Exercise form annexed hereto. Within three (3) Business Days following
the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable
Notice of Exercise by wire transfer or check drawn on a United States bank unless the cashless exercise procedure specified in
Section 1.3 below is specified in the applicable Notice of Exercise. Partial exercises of this Warrant resulting in purchases
of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number
of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and
the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company
shall deliver any objection to any Notice of Exercise form within seventy-two (72) hours of receipt of such notice. The Holder
and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following
the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any
given time may be less than the amount stated on the face hereof. “Business Day” shall mean any day on which the banks
are open for business in New York, New York.

 

    	 	1	 

     

    

 

1.2 Exercise
Price. The exercise price per share of Common Stock under this Warrant shall be $0.04 (four cents) per share, subject to
adjustment hereunder (the “Exercise Price”).

 

1.3
Cashless Exercise. To the extent this Warrant is not previously exercised, and if the Market Price of one Warrant Share
is greater than the Exercise Price, the Holder may elect to receive Warrant Shares, in lieu of a cash exercise, equal to the value
of this Warrant determined in the manner described below (or of any portion thereof remaining unexercised) by surrender of this
Warrant and a Notice of Exercise, in which event the Company shall issue to Holder a number of Shares computed using the following
formula:

 

X
= Y (A-B)

      A

 

	 	Where
    X =	 	the
    number of Warrant Shares to be issued to Holder.
	 	 	 	 
	 	Y
    =	 	the
    number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date of such calculation).
	 	 	 	 
	 	A
    =	 	the
    highest traded price in the five trading days immediately preceding the date on which Holder elects to exercise this Warrant
    by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise;
	 	 	 	 
	 	B
    =	 	Exercise
    Price (as adjusted to the date of such calculation).

 

1.4
Delivery of Warrant Shares. Warrant Shares purchased hereunder will be delivered to Holder by 2:30 pm EST within five (5)
Business Days of Notice of Exercise by “DWAC/FAST” electronic transfer (such date, the “Warrant Share Delivery
Date”). For example, if Holder delivers a Notice of Exercise to the Company at 5:15 pm eastern time on Monday January
1st, the Company’s transfer agent must deliver shares to Holder’s broker via “DWAC/FAST” electronic
transfer by no later than 2:30 pm eastern time on Monday, January 8th. The Warrant Shares shall be deemed to have been issued,
and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares
for all purposes, as of the date of delivery of the Notice of Exercise. Holder may assess penalties or liquidated damages (both
referred to herein as “penalties”) as follows. For each exercise, in the event that shares are not delivered by the
fifth Business Day (inclusive of the day of exercise), the Company shall pay the Holder in cash a penalty of $500.00 per day for
each day after the fifth Business Day (inclusive of the day of exercise) until share delivery is made. The Company will not be
subject to any penalties once its transfer agent correctly processes the shares to the DWAC system.

 

1.5
Delivery of Warrant. The Holder shall not be required to physically surrender this Warrant to the Company. If the Holder
has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, this Warrant shall automatically
be cancelled without the need to surrender the Warrant to the Company for cancellation. If this Warrant shall have been exercised
in part, the Company shall, at the request of Holder and upon surrender of this Warrant, at the time of delivery of the Warrant
Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called
for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant and, for purposes of Rule 144,
shall tack back to the original date of this Warrant.

 

    	 	2	 

     

    

 

1.6
Warrant Exercise Rescission Rights. If the Warrant Shares are not delivered by DWAC/FAST electronic transfer or in accordance
with the timeframe stated in Section 1.5, Holder may, at any time prior to selling those Warrant Shares rescind such exercise,
in whole or in part, in which case the Company must, within three (3) days of receipt of notice from the Holder, repay to the
Holder the portion of the exercise price so rescinded and reinstate the portion of the Warrant and equivalent number of Warrant
Shares for which the exercise was rescinded and, for purposes of Rule 144, such reinstated portion of the Warrant and the Warrant
Shares shall tack back to the original date of this Warrant. If Warrant Shares were issued to Holder prior to Holder’s rescission
notice, upon return of payment from the Company, Holder will, within three (3) days of receipt of payment, commence procedures
to return the Warrant Shares to the Company.

 

1.7
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the
Holder. The Company shall pay all transfer agent fees required for same-day processing of any Notice of Exercise.

 

1.8
Holder’s Exercise Limitations. Unless otherwise agreed in writing by both the Company and the Holder, at no time
will the Holder exercise any amount of this Warrant to purchase Common Stock that would result in the Holder owning more than
4.99% of the Common Stock outstanding of the Company (the “Beneficial Ownership Limitation”). Upon the written
or oral request of Holder, the Company shall within twenty-four (24) hours confirm orally and in writing to the Holder the number
of shares of Common Stock then outstanding.

 

1.9
Physical Delivery of Warrant Shares. In the event that the Warrant Shares are required by securities laws to contain a
restrictive legend, then the Holder shall be delivered a physical certificate representing the Warrant Shares within ten (10)
business days, notwithstanding anything contained herein in Sections 1.4, 1.5 and 1.6, which sections shall be deemed inapplicable
to the Warrant exercise being completed by the Holder.

 

ARTICLE
2

ADJUSTMENTS

 

2.1 Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent
securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock
issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number
of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number
of shares, or (iv) issues by reclassification (or issues by reorganization) of shares of the Common Stock any shares of
capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator
shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event
and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the
number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise
Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 2.1 shall become effective
immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and
shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification (or
reorganization).

 

2.2
[Blank]

 

    	 	3	 

     

    

 

2.3
Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders
of Common Stock (and not to the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights
or warrants to subscribe for or purchase any security other than the Common Stock, then in each such case the Exercise Price shall
be adjusted by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders
entitled to receive such distribution by a fraction of which the denominator shall be the VWAP determined as of the record date
mentioned above, and of which the numerator shall be such VWAP on such record date less the then per share fair market value at
such record date of the portion of such assets or evidence of indebtedness or rights or warrants so distributed applicable to
one outstanding share of the Common Stock as determined by the Board of Directors in good faith. In either case the adjustments
shall be described in a statement provided to the Holder of the portion of assets or evidences of indebtedness so distributed
or such subscription rights applicable to one share of Common Stock. Such adjustment shall be made whenever any such distribution
is made and shall become effective immediately after the record date mentioned above.

 

2.4
Notice to Holder. Whenever the Exercise Price is adjusted pursuant to any provision of this Article 2, the Company shall
promptly notify the Holder (by written notice) setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ARTICLE
3

COMPANY
COVENANTS

 

3.1
No Adverse Actions. Except and to the extent as waived or consented to by the Holder, the Company shall not by any action,
including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the
taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against
impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares
above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action
as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant
Shares upon the exercise of this Warrant, and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions
or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform
its obligations under this Warrant.

 

ARTICLE
4

MISCELLANEOUS

 

4.1
Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant
and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a
view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable
state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

4.2
Transferability. Subject to compliance with any applicable securities laws, this Warrant and all rights hereunder (including,
without limitation, any registration rights) are transferable, in whole or in part, by a written assignment of this Warrant duly
executed by the Holder or its agent or attorney. If necessary to obtain a new warrant for any assignee, the Company, upon surrender
of this Warrant, shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable,
and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant
evidencing the portion of this Warrant not so assigned, and such new Warrants, for purposes of Rule 144, shall tack back to the
original date of this Warrant. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for
the purchase of Warrant Shares without having a new Warrant issued.

 

    	 	4	 

     

    

 

4.3
Assignability. The Company may not assign this Warrant without prior written consent of the Holder. This Warrant will be
binding upon the Company and its successors, and will inure to the benefit of the Holder and its successors and assigns, and may
be assigned by the Holder to anyone of its choosing without the Company’s approval.

 

4.4
Notices. Any notice required or permitted hereunder must be in writing and either personally served, sent by facsimile
or email transmission, or sent by overnight courier. Notices will be deemed effectively delivered at the time of transmission
if by facsimile or email, and if by overnight courier the Business Day after such notice is deposited with the courier service
for delivery.

 

4.5
Governing Law, Legal Proceedings, and Arbitration. THIS WARRANT WILL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE
WITH THE SUBSTANTIVE LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES THEREOF. ANY ACTION
BROUGHT BY EITHER PARTY AGAINST THE OTHER ARISING OUT OF OR RELATED TO THIS WARRANT, OR ANY OTHER AGREEMENTS BETWEEN THE PARTIES,
SHALL BE COMMENCED ONLY IN THE STATE OR FEDERAL COURTS OF GENERAL JURISDICTION LOCATED IN THE STATE OF CALIFORNIA, EXCEPT THAT
ALL SUCH DISPUTES BETWEEN THE PARTIES SHALL BE SUBJECT TO ALTERNATIVE DISPUTE RESOLUTION THROUGH BINDING ARBITRATION UPON AGREEMENT
BY PARTIES. The Parties agree that, in connection with any such arbitration proceeding, each shall submit or file any claim
which would constitute a compulsory counterclaim within the same proceeding as the claim to which it relates. Any such claim that
is not submitted or filed in such proceeding shall be waived and such party will forever be barred from asserting such a claim.
The Parties agree to submit to the jurisdiction of such courts or to such arbitration panel, as the case may be.

If
the Investor elects alternative dispute resolution by arbitration, the arbitration proceedings shall be conducted in California
and administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules and Mediation Procedures
in effect on the Initial Issue Date of this Warrant, except as modified by this Warrant. The American Arbitration Association
must receive the demand in writing and signed by both Parties for arbitration prior to the date when the institution of legal
or equitable proceedings would be barred by the applicable statute of limitations, unless legal or equitable proceedings between
the parties have already commenced, and the receipt by the American Arbitration Association of a written demand for arbitration
also shall constitute the institution of legal or equitable proceedings for statute of limitations purposes. The parties shall
be entitled to limited discovery at the discretion of the arbitrator(s) who may, but are not required to, allow depositions. The
parties acknowledge that the arbitrators’ subpoena power is not subject to geographic limitations. The arbitrator(s) shall
have the right to award individual relief which he or she deems proper under the evidence presented and applicable law and consistent
with the parties’ rights to, and limitations on, damages and other relief as expressly set forth in this Warrant. The award
and decision of the arbitrator(s) shall be conclusive and binding on the Parties, and judgment upon the award may be entered in
any court of competent jurisdiction. The Investor reserves the right, but shall have no obligation, to advance the Issuer’s
share of the costs, fees and expenses of any arbitration proceeding, including any arbitrator fees, in order for such arbitration
proceeding to take place, and by doing so will not be deemed to have waived or relinquished its right to seek the recovery of
those amounts from the arbitrator, who shall provide for such relief in the final award, in addition to the costs, fees, and expenses
that are otherwise recoverable. The foregoing agreement to arbitrate shall be specifically enforceable under applicable law in
any court having jurisdiction thereof.

 

    	 	5	 

     

    

 

4.6
Delivery of Process by Holder to the Company. In the event of any action or proceeding by Holder against the Company, and
only by Holder against the Company, service of copies of summons and/or complaint and/or any other process which may be served
in any such action or proceeding may be made by Holder via U.S. Mail, overnight delivery service such as FedEx or UPS, email,
fax, or process server upon mailing or delivering a copy of such process to the Company at its last known address as set forth
in its most recent SEC filing.

 

4.7
No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 1.1. So long as this Warrant is unexercised,
this Warrant carries no voting rights and does not convey to the Holder any “control” over the Company, as such term
may be interpreted by the SEC under the Securities Act or the Exchange Act, regardless of whether the price of the Company’s
Common Stock exceeds the Exercise Price.

 

4.8
Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability
of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted
by the Company or by creditors of the Company.

 

4.9
Attorney’s Fees. In the event any attorney is employed by either party to this Warrant with regard to any legal or
equitable action, arbitration or other proceeding brought by such party for the enforcement of this Warrant or because of an alleged
dispute, breach, default or misrepresentation in connection with any of the provisions of this Warrant, the prevailing party in
such proceeding will be entitled to recover from the other party reasonable attorneys’ fees and other costs and expenses
incurred, in addition to any other relief to which the prevailing party may be entitled.

 

4.10
Opinion of Counsel. In the event that an opinion of counsel is needed for any matter related to this Warrant, Holder has
the right to have any such opinion provided by its counsel.

 

4.11
Amendment; Waivers. The term “Warrant” and all references thereto, as used throughout this instrument, means
this instrument as originally executed, or if later amended or supplemented, then as so amended or supplemented. No provision
of this Warrant may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment,
by the Company and the Holder, or in the case of a waiver, by the party against whom enforcement of any such waived provision
is sought. No waiver of any default with respect to any provision, condition or requirement of this Warrant shall be deemed to
be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement
hereof, nor shall any delay or omission of any part to exercise any right hereunder in any manner impair the exercise of any such
right.

 

4.12
Nonwaiver. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies.

 

4.13
No Shorting. Holder agrees that so long as this Warrant remains unexercised in whole or in part, Holder will not enter
into or effect any “short sale” of the common stock or hedging transaction which establishes a net short position
with respect to the common stock of the Company. The Company acknowledges and agrees that as of the date of delivery to the Company
of a fully and accurately completed Notice of Exercise, Holder immediately owns the common shares described in the Notice of Exercise
and any sale of those shares issuable under such Notice of Exercise would not be considered short sales.

    	 	6	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	COMPANY:
    CLEAN ENERGY TECHNOLOGIES, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	Kambiz
    Mahdi
	 	 	 
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	HOLDER:
    LGH INVESTMENTS, LLC
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	Lucas
    Hoppel
	 	 	 
	 	Title:	Managing
    Member

 

    	 	7	 

     

    

 

NOTICE
OF EXERCISE

 

TO:
          CLEAN ENERGY TECHNOLOGIES, INC.

 

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

 

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

 

	 	[  ] in lawful money of the United States; or
	 	 
	 	[  ] the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in Section 1.3,
    to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
    procedure set forth in Section 1.3.

 

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

 

____________________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number:

 

____________________________________

 

____________________________________

 

____________________________________

  

(4)
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended.

 

	Name:	 	 
	Date:

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