Document:

Exhibit
10.2

 

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.

 

HOME
BISTRO, INC.

15%
CONVERTIBLE NOTE

 

	Issuance
    Date: May 18, 2022	Original Principal
    Amount: $500,000.00
	Note No.
    HBIS-1001	Consideration Paid at Close:
    $450,000.00

 

FOR
VALUE RECEIVED, Home Bistro, 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 Mast Hill Fund, L.P., a Delaware limited partnership, or
registered assigns (the “Holder”) the amount set out above as the Original Principal Amount (the “Note”)
(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 rate of fifteen percent (15%) per annum from
the date hereof (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 $500,000.00 ($450,000.00 plus the OID (as defined below)). The “Consideration” is $450,000.00
payable by wire transfer (there exists a $50,000.00 prorated original issue discount (the “OID”)). The Holder
shall pay the Consideration upon closing of this Note pursuant to a disbursement authorization dated as of the Issuance Date and signed
by the Company.

 

(1)
GENERAL TERMS.

 

(a)
Payment of Principal. The maturity date shall be May 18, 2023 (the “Maturity Date”), and is the date upon which
the Principal (which includes the OID) and interest and any accrued and unpaid interest and other fees, shall be due and payable. Notwithstanding
the foregoing, this Note shall be due and payable on such earlier date as this Note is required to be repaid as provided hereinbelow.

 

(b)
Interest Calculations. Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods,
and shall accrue daily commencing on the Issuance Date until payment in full of the outstanding principal, together with all accrued
and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid
to the Person in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note on
the Maturity Date; and (iii) any other date on which principal is paid or payable under this Note, on the principal amount so paid or
payable.

 

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

 

(2)
DEFINITIONS. For the purposes hereof, in addition to the terms defined elsewhere in this Note, (a) capitalized terms not
otherwise defined herein shall have the meanings set forth in the Purchase Agreement (as defined in this Note) and (b) the following
terms shall have the following meanings:

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required
by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any
other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so
long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York are generally
are open for use by customers on such day.

 

     

     

    

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at
any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“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.

 

“Conversion
Price” means the per share conversion price into which Principal and Interest under this Note shall be convertible into shares
of Common Stock hereunder, which shall equal $0.39, provided, however, that if the Company consummates an Uplist Offering (as defined
in this Note) on or before the date that is one hundred and eighty (180) calendar days after the Issuance Date, then the Conversion Price
shall equal 75% of the offering price per share of Common Stock (or unit, if units are offered in the Uplist Offering) at which the Uplist
Offering is made (for the avoidance of doubt, if a unit includes more than one share of the Common Stock in the Uplist Offering, the
Conversion Price shall mean 75% of the unit price divided by the number of shares of Common Stock contained in a unit). Unless otherwise
adjusted pursuant to the terms of this Note, if the date of a respective conversion under this Note is prior to the date of the Company’s
consummation of an Uplist Offering, then the Conversion Price shall equal $0.39 per share.

 

“Person”
and “Persons” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an
unincorporated organization, any other entity and any governmental entity or any department or agency thereof.

 

“Purchase
Agreement” means the Securities Purchase Agreement, dated as of May 18, 2022, by and among the Company and the original Holders,
as amended, modified or supplemented from time to time in accordance with its terms.

 

“Trading
Day” means any day during which the principal market on which the Common Stock is traded shall be open for business, provided,
however, that if the Common Stock is not then listed or quoted on any Principal Market, then any calendar day

 

“Uplist
Offering” means an offering of Common Stock (or units consisting of Common Stock and warrants to purchase Common Stock) that
will result in the immediate listing for trading of the Common Stock on the NYSE American, the Nasdaq Capital Market, the Nasdaq Global
Market, the Nasdaq Global Select Market, the New York Stock Exchange, or any other national securities exchange (or any successors to
any of the foregoing).

 

(3)
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
or pursuant to the Purchase Agreement (including, without limitation, the Company’s failure to pay any amounts hereunder); and

 

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

 

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

 

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

 

(v)
The Common Stock is suspended or delisted for trading on the principal market on which the Common Stock is then listed or quoted (including
but not limited to any tier of the OTC Markets, any tier of the NASDAQ Stock Market (including NASDAQ Capital Market), or the NYSE American,
or any successor to such markets) (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 fail to comply with the reporting requirements of the 1934 Act and/or the Company shall cease to be subject to the
reporting requirements of the 1934 Act;

 

(ix)
The Company shall fail to 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;

 

(x)
The Company shall fail to meet all requirements to satisfy the availability of Rule 144 to the Holder or its assigns including but not
limited to timely fulfillment of its filing requirements as a fully-reporting issuer registered with the SEC, requirements for XBRL filings,
and requirements for disclosure of financial statements on its website;

 

(xi)
The failure by the Company to maintain any material intellectual property rights, personal, real property or other assets which are necessary
to conduct its business (whether now or in the future);

 

(xii)
The Company breaches any covenant, agreement, or other term or condition contained in the securities purchase agreement entered into
between the Company and the Holder on the Issuance Date (the “Purchase Agreement”), this Note, the Warrant (as defined in
the Purchase Agreement) (the “Warrant”), or in any agreement, statement or certificate given in writing pursuant hereto or
in connection herewith or therewith;

 

(xiii)
Any representation or warranty of the Company made in the Purchase Agreement, this Note, the Warrant, or in any agreement, statement
or certificate given in writing pursuant hereto or in connection herewith or therewith shall be false or misleading in any material respect
when made; and

 

(xiv)
Any dissolution, liquidation, or winding up of Company or any substantial portion of its business.

 

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(b)
Upon the occurrence of any Event of Default (without the need for any party to give any notice or take any other action), the then outstanding
balance of this Note (the “Outstanding Balance”) shall immediately and automatically become due and payable and the Company
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.

 

(4)
CONVERSION OF NOTE. This Note shall be convertible into shares of the Company’s Common Stock, on the terms and conditions
set forth in this Section 4.

 

(a)
(a) Conversion Right. The Holder shall have the right at any time on or following the earlier of (i) the date that an Event of
Default (as defined in this Note) occurs or (ii) the date that the Uplist Offering is consummated, to convert all or any portion of the
then outstanding and unpaid Principal and Interest into fully paid and non-assessable shares of Common Stock, as such Common Stock exists
on the Issuance Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter
be changed or reclassified, at the Conversion Price (as defined below) determined as provided herein (a “Conversion”).
The number of shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to this Section 4(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.

 

(b)
Mechanics of Conversion.

 

(i)
Optional Conversion. To convert any Conversion Amount into shares of Common Stock on any date that the Holder is permitted to
effectuate a conversion pursuant to the terms of this Note (a “Conversion Date”), the Holder shall (A) transmit by
email, facsimile, or other form of delivery, 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 (3rd) Business Day following the date of Holder’s transmission 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”) or any other applicable exemption or
registration and provided that the Transfer Agent is participating in the Depository Trust Company’s (“DTC”)
Fast Automated Securities Transfer Program and the Holder provides full and complete DTC delivery instructions, 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 At Custodian system, (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 or book-entry position,
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.or (C) if a restrictive legend is required
to be placed on certificates of Common Stock pursuant to the then existing federal securities laws, 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 bear the applicable restrictive legend. 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.

 

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(ii)
Company’s Failure to Timely Convert. If within three (3) Business Days after the Holder’s transmission of the facsimile,
email, or other form of delivery of the Conversion Notice to the Company, the Company shall fail to issue and deliver to Holder pursuant
to the terms of this Note the number of shares of Common Stock to which the Holder is entitled upon such holder’s conversion of
any Conversion Amount (a “Conversion Failure”), the Original Principal Amount of the Note shall increase by $2,000
per day until the Company issues and delivers the number of shares of Common Stock to which the Holder is entitled to the Holder pursuant
to the terms of this Note (under Holder’s and Company’s expectation that any damages will tack back to the Issuance Date).
If the Company fails to deliver the number of shares of Common Stock to which the Holder is entitled on or before the Share Delivery
Date, 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), provided that the rescission of any portion, in
whole or in part, of a Conversion Notice shall not affect the Company’s obligations to make any payments which have accrued prior
to the date of such rescission.

 

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

 

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

 

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

 

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

 

(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.

 

(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. 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.
The provisions of this Section may be waived by Holder upon not less than 65 days prior written notification to the Company.

 

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(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 2 (two) times the full number of shares of Common Stock issuable upon conversion of all outstanding amounts under this
Note; and within 3 (three) Business Days following the receipt by the Company of a Holder’s notice that such minimum number of
shares of Common Stock is not so reserved, the Company shall promptly reserve a sufficient number of shares of Common Stock to comply
with such requirement.

 

(ii)
Prepayment. At any time prior to the date that an Event of Default occurs under this Note, the Company shall have the option,
upon 10 Business Days’ notice (the “Prepayment Notice Period”) to Holder, to pre-pay the entire remaining outstanding
principal amount of this Note in cash, provided that (i) the Company shall pay the Holder (x) 115% of the Outstanding Balance plus
(y) accrued and unpaid interest on the Outstanding Balance, (ii) such amount must be paid in cash on the next Business Day following
such the Prepayment Notice Period, and (iii) so long as Holder is entitled to convert the Note at such time pursuant to the terms of
this Note, the Holder may still convert the Note pursuant to the terms hereof at all times until such prepayment amount has been received
in full . Except as set forth in this Section the Company may not prepay this Note in whole or in part.

 

(iii)
Terms of Future Issuances. So long as this Note is outstanding, upon any issuance by the Company or any of its subsidiaries of
any promissory note, debenture or security (each referred to as a “Security”) (or upon any amendment to or conversion of
any existing Security) with any term more favorable to the holder of such Security or with a term in favor of the holder of such Security
that was not similarly provided to 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 Note. 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, conversions or exchanges of existing notes or debentures, interest rates, original issue discounts, stock sale price,
private placement price per share, and warrant coverage.

 

(iv)
Dilutive Issuances. If the Company or any subsidiary thereof, as applicable, at any time while this Note is outstanding, shall
sell or grant any option to purchase, or sell or grant any right to re-price, or otherwise dispose of or issue (or announce any offer,
sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents entitling any Person to acquire
shares of Common Stock (other than an Exempt Issuance), at an effective price per share less than the then Conversion Price (such lower
price, the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”) (if the holder of the Common
Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions,
floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection
with such issuance, be entitled to receive shares of Common Stock at an effective price per share which is less than the Conversion Price,
such issuance shall be deemed to have occurred for less than the Conversion Price on such date of the Dilutive Issuance), then the Conversion
Price shall be reduced and only reduced to equal the Base Share Price. Such adjustment shall be made whenever such Common Stock or Common
Stock Equivalents are issued. Notwithstanding the foregoing, the Holder may only enforce its rights under this Section 4(d)(iv) after
the date that is one hundred eighty (180) calendar days after the Issuance Date, provided, however, that at such time the Holder may
enforce its rights to all adjustments hereunder that apply even if the Dilutive Issuance occurred prior to the date that is one hundred
eighty (180) calendar days after the Issuance Date. “Exempt Issuance” shall mean: (i) Common Stock and Common Stock
Equivalents issued pursuant to an Uplist Offering, (ii) Common Stock or Common Stock Equivalents issued to employees or directors
of, or consultants, advisors or service providers to, the Company or any of its subsidiaries pursuant to a plan, agreement or arrangement
approved by the Board of Directors of the Company, (iii) shares Common Stock actually issued upon the exercise of Common Stock Equivalents
for which an adjustment has already been made pursuant to this Section 4(d)(iv), (iv) Common Stock and Common Stock Equivalents
issued to banks, equipment lessors or other financial institutions, or to real property lessors, pursuant to a debt financing, equipment
leasing or real property leasing transaction approved by the Board of Directors of the Company, (v)  Common Stock and Common Stock
Equivalents issued to suppliers or third party service providers in connection with the provision of goods or services pursuant to transactions
approved by the Board of Directors of the Company, (vi) Common Stock and Common Stock Equivalents issued as acquisition consideration
pursuant to the acquisition of another business by the Company by merger, purchase of substantially all of the assets or other reorganization
or to a joint venture agreement, provided that such issuances are approved by the Board of Directors of the Company, and (vii) Common
Stock and Common Stock Equivalents issued in connection with sponsored research, collaboration, technology license, development, OEM,
marketing or other similar agreements or strategic partnerships approved by the Board of Directors of the Company.

 

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(v)
Notice of Dilution Issuance. The Company shall notify the Holder in writing, no later than the Trading Day following a Dilutive
Issuance subject to Section 4(d)(iv), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion
price and other pricing terms (such notice, the “Dilutive Issuance Notice”). For purposes of clarification, whether
or not the Company provides a Dilutive Issuance Notice pursuant to this Section 4(d)(v), upon the occurrence of any Dilutive Issuance,
after the date of such Dilutive Issuance the Holder is entitled to receive a number of shares based upon the Base Share Price regardless
of whether the Holder accurately refers to the Base Share Price in the Conversion Notice. All calculations under this Section 3 shall
be rounded up to the nearest $0.00001 or whole share.

 

(vi)
Nothing herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 3 herein
for the Company’s failure to deliver 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.

 

(5)
PIGGYBACK REGISTRATION RIGHTS. The Company shall include all shares issuable upon conversion of this Note for resale by Holder
at prevailing market prices (and not fixed prices) on the first registration statement the Company files with the SEC after the Uplist
Offering.

 

(6)
REISSUANCE OF THIS NOTE.

 

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

 

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

 

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

 

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The
addresses for such communications shall be:

 

If
to the Company, to:

 

Home
Bistro, Inc.

4014
Chase Avenue, #212

Miami
Beach, FL 33140

Attn:
Zalmi Duchman

Email:
zalmi@homebistro.com

 

If
to the Holder: to the address and email set forth on the signature page hereto

 

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

 

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

 

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

 

(11)
ADJUSTMENTS. Notwithstanding anything to the contrary, the Conversion Price is subject to equitable adjustments for stock splits
(including reverse stock splits and forward stock splits), stock dividends or rights offerings by the Company relating to the Company’s
securities or the securities of any subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions
and similar events.

 

(12)
USURY. To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever
claim, and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at
any time hereafter in force, in connection with any action or proceeding that may be brought by the Holder in order to enforce any right
or remedy under this Note. Notwithstanding any provision to the contrary contained in this Note, it is expressly agreed and provided
that the total liability of the Company under this Note for payments which under the applicable law are in the nature of interest shall
not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the foregoing,
in no event shall any rate of interest or default interest, or both of them, when aggregated with any other sums which under the applicable
law in the nature of interest that the Company may be obligated to pay under this Note exceed such Maximum Rate. It is agreed that if
the maximum contract rate of interest allowed by applicable law and applicable to this Note is increased or decreased by statute or any
official governmental action subsequent to the Issuance Date, the new maximum contract rate of interest allowed by law will be the Maximum
Rate applicable to this Note from the effective date thereof forward, unless such application is precluded by applicable law. If under
any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to the Holder with respect to indebtedness
evidenced by this the Note, such excess shall be applied by the Holder to the unpaid principal balance of any such indebtedness or be
refunded to the Company, the manner of handling such excess to be at the Holder’s election.

 

    8

     

    

 

(13)
SEVERABILITY. In the event that any provision of this Note is invalid or unenforceable under any applicable statute or rule of
law (including any judicial ruling), then such provision shall be deemed inoperative to the extent that it may conflict therewith and
shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under
any law shall not affect the validity or enforceability of any other provision of this Note.

 

[Signature
Page Follows]

 

    9

     

    

 

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.

 

	THE COMPANY:	 
	 	 
	Home Bistro, Inc.	 
	 	 
	By: 	     	 
	 	Name: 	Zalmi Duchman	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 
	HOLDER:	 
	 	 
	Mast Hill Fund, L.P.	 
	 	 
	By:	         	 
	 	Name:	Patrick Hassani	 
	 	Title:	Chief Investment Officer	 

 

Address
for Notices:

 

48
Parker Road

Wellesley,
MA 02482

Email:
admin@masthillfund.com

 

[Signature
Page to Convertible Note No. HBIS-1001]

 

     

     

    

 

EXHIBIT
A

CONVERSION
NOTICE

Home
Bistro, Inc.

4014
Chase Avenue, #212

Miami
Beach, FL 33140

Attn:
Zalmi Duchman

Email:
zalmi@homebistro.com

 

The
undersigned hereby elects to convert a portion of the Convertible Note (HBIS-[●]) issued to the undersigned into shares
of Common Stock of according to the conditions set forth in such Note as of the date written below.

 

	 	Date of Conversion:	 	 
	 	 	 	 
	 	Conversion Amount:	 	 
	 	 	 	 
	 	Conversion Price:	 	 
	 	 	 	 
	 	No. of Shares:	 	 

 

[___]
(initial) - Please issue shares of Common Stock issuable upon conversion in the name of the undersigned as specified below:

 

	Name of Registered
    Holder:	 
	Mailing Address
    for Delivery of Notice of Issuance, Account Statement or Certificates for Common Shares (as applicable):	Address Line
    1:	 
	 	Address Line 2:	 

	 	Address
    Line 3:	 
	 	Attention:	 
	 	Telephone
    Number:	 

 

[___]
(initial (only if eligible under the terms of the Convertible Note)) Please deliver the shares of Common Stock issuable upon conversion
electronically by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit/Withdrawal
At Custodian (DWAC) system or Direct Registration System (DRS):

 

	Name
    of Prime Broker or Custodian:	 
	 	 
	DTC Broker No.:	 
	 	 
	Account Name:	 
	 	 
	Account No.:	 

 

     

     

    

 

The
undersigned undertakes to cause its prime broker or custodian to take all actions necessary or advisable to accept delivery of such shares
of Common Stock soon as practicable after such shares of Common Stock are made available for delivery via DWAC or DRS.

 

The
undersigned has completed and signed an accurate and complete IRS Form W-9 or IRS Form W-8BEN, as applicable, which is attached to
this Conversion Notice.

 

	 	Name
    of Holder:

     
	 
	 	Signature:	 

     

	 	Name:	 
	 	Title

     

     
	 
	Address
    for Contact:

     
	Address
    Line 1:	 
	Address
    Line 2:	 
	Address
    Line 3:	 
	Attention:	 
	Email
    Address:

     

     
	 
	 	Date:Exhibit 10.3

 

THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON
EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT AND THE COMMON STOCK ISSUABLE
UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
AS TO THIS WARRANT UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO HOME BISTRO,
INC. THAT SUCH REGISTRATION IS NOT REQUIRED.

 

HOME BISTRO, INC.

 

WARRANT TO PURCHASE SHARES OF COMMON STOCK

 

Warrant
no. HBIS-1001

 

1.
Issuance. In consideration of good and valuable consideration as set forth in the Purchase Agreement (defined below), including
without limitation the Purchase Price (as defined in the Purchase Agreement), the receipt and sufficiency of which are hereby acknowledged
by HOME BISTRO, INC., a Nevada corporation (the “Company”); Mast Hill Fund, L.P., a Delaware limited partnership, its
successors and/or registered assigns (the “Holder”), is hereby granted the right to purchase at any time on or after
the Issue Date (as defined below) until the date which is the last calendar day of the month in which the third anniversary of the Issue
Date occurs (the “Expiration Date”), 769,231 fully paid and nonassessable shares (the “Warrant Shares”)
of the Company’s common stock, par value $0.001 per share (the “Common Stock”), as such number of Warrant Shares
may be adjusted from time to time pursuant to the terms and conditions of this Warrant to Purchase Shares of Common Stock (this “Warrant”).
This Warrant is being issued pursuant to the terms of that certain Securities Purchase Agreement dated May 18, 2022, to which the Company
and the Holder are parties (as the same may be amended from time to time, the “Purchase Agreement”).

 

Unless otherwise indicated
herein, capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Purchase Agreement. For purposes
of this Warrant, the term “Exercise Price” shall mean $0.65, provided, however, that if the Company consummates an
Uplist Offering (as defined in this Warrant) on or before the date that is one hundred and eighty (180) calendar days after the Issue
Date, then the Exercise Price shall equal 120% of the offering price per share of Common Stock (or unit, if units are offered in the Uplist
Offering) at which the Uplist Offering is made (the “Uplist Exercise Price”) (for the avoidance of doubt, if a unit
includes more than one share of the Common Stock in the Uplist Offering, the Exercise Price shall mean 120% of the unit price divided
by the number of shares of Common Stock contained in a unit), subject to adjustment as provided herein (including but not limited to cashless
exercise). Unless otherwise adjusted pursuant to the terms of this Warrant, if the date of a respective exercise under the Warrant is
on or before the date that is one hundred and eighty (180) calendar days after the Issue Date and the Company has not consummated an Uplist
Offering, then the exercise price of this Warrant shall equal the initial Exercise Price.

 

This Warrant was originally
issued to the Holder on May 18, 2022 (the “Issue Date”).

 

2.
Exercise of Warrant.

 

2.1 General.

 

(a) This Warrant is exercisable
in whole or in part at any time and from time to time commencing on the Issue Date and ending on the Expiration Date. Such exercise
shall be effectuated by submitting to the Company (either by delivery to the Company or by email or facsimile transmission) a completed
and duly executed Notice of Exercise substantially in the form attached to this Warrant as Exhibit A (the “Notice of Exercise”).
The date such Notice of Exercise is either faxed, emailed or delivered to the Company shall be the “Exercise Date,”
provided that, if such exercise represents the full exercise of the outstanding balance of the Warrant, the Holder shall tender this Warrant
to the Company within five (5) Trading Days thereafter, but only if the Warrant Shares to be delivered pursuant to the Notice of Exercise
have been delivered to the Holder as of such date. The Notice of Exercise shall be executed by the Holder and shall indicate (i) the number
of Warrant Shares (as defined below) to be issued pursuant to such exercise, and (ii) if applicable (as provided below), whether the exercise
is a cashless exercise.

 

    1

     

    

 

For purposes of this Warrant,
the term “Trading Day” means any day during which the principal market on which the Common Stock is then listed or
quoted (the “Principal Market”) shall be open for business, provided, however, that if the Common Stock is not then
listed or quoted on any Principal Market, then any calendar day.

 

(b) To the extent that this
Warrant is not previously exercised and in the event that: (i) the Warrant Shares are not registered under the 1933 Act pursuant to an
effective non-stale registration statement of the Company which contains a prospectus that complies with Section 5(b) and Section 10 of
the Securities Act of 1933 at the time of exercise and covers the Holder’s immediate resale of the Warrant Shares at prevailing
market prices (and not fixed prices) without any limitation; and (ii) if the Market Price (as defined below)of one Warrant Share is greater
than the Exercise Price, then, unless there is an effective registration statement of the Company that contains a prospectus that complies
with Section 5(b) and Section 10 of the Securities Act of 1933 at the time of exercise and covers the Holder’s immediate resale
of the Warrant Shares at prevailing market prices (and not fixed prices) without any limitation, then the Holder may elect to receive
Warrant Shares pursuant to a cashless exercise, 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 Market Price (at the date of such calculation).

 

	 	B =	Exercise Price (as adjusted to the date of such calculation).

 

For the purposes of this Warrant,
the following terms shall have the following meanings:

 

“Affiliate”
shall mean an affiliate as such term is defined in Rule 144 under the Securities Act of 1933, as amended (or a successor rule).

 

“Aggregate Exercise
Price Payable” shall mean the product of multiplying the number of Warrant Shares exercisable by the Exercise Price.

 

“Closing Price”
shall mean the 4:00 P.M. last sale price of the Common Stock on the Principal Market on the relevant Trading Day(s), as reported by Bloomberg
LP (or if that service is not then reporting the relevant information regarding the Common Stock, a comparable reporting service of national
reputation selected by the Holder and reasonably acceptable to the Company) (“Bloomberg”) for the relevant date.

 

“Common Stock Equivalents”
means any securities of the Company that would entitle the holder thereof to acquire at any time Common Stock, including without limitation
any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exercisable or exchangeable
for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Market Price”
shall mean the Closing Price for the Common Stock on the Trading Day that is two Trading Days prior to the Exercise Date.

 

“Note”
shall mean that certain Convertible Promissory Note issued by the Company to the Holder pursuant to the Purchase Agreement, as the same
may be amended from time to time, and including any promissory note(s) that replace or are exchanged for such referenced promissory note.

 

    2

     

    

 

“Person”
and “Persons” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust,
an unincorporated organization, any other entity and any governmental entity or any department or agency thereof.

 

“Uplist Offering”
shall mean an offering of Common Stock (or units consisting of Common Stock and warrants to purchase Common Stock) that results in the
immediate listing for trading of the Common Stock on the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq
Global Select Market, the New York Stock Exchange, or any other national securities exchange (or any successors to any of the foregoing).

 

(c) If the Notice of Exercise
form elects a “cash” exercise (or if the cashless exercise referred to in the immediately preceding subsection (b) is not
available in accordance with the terms hereof), the Exercise Price per share of Common Stock for the Warrant Shares shall be payable,
at the election of the Holder, in cash or by certified or official bank check or by wire transfer in accordance with instructions provided
by the Company at the request of the Holder.

 

(d) Upon the appropriate payment
to the Company, if any, of the Exercise Price for the Warrant Shares, together with the surrender of this Warrant (if required), the Company
shall promptly, but in no case later than the date that is three (3) Trading Days following the date the Exercise Price is paid to the
Company (or with respect to a “cashless exercise,” the date that is three (3) Trading Days following the Exercise Date) (the
“Delivery Date”), provided that all DWAC Eligible Conditions (as defined in the Note) are then satisfied, deliver or
cause the Company’s Transfer Agent to deliver the applicable Warrant Shares electronically via the Deposit/Withdrawal at Custodian
(“DWAC”) system to the account designated by the Holder on the Notice of Exercise. If all DWAC Eligible Conditions
are not then satisfied, the Company shall instead issue and deliver or cause to be issued and delivered (via reputable overnight courier)
to the address as specified in the Notice of Exercise, a certificate, registered in the name of the Holder or its designee, for the number
of Warrant Shares to which the Holder shall be entitled. For the avoidance of doubt, the Company has not met its obligation to deliver
Warrant Shares by the Delivery Date unless the Transfer Agent has posted the shares for DWAC pickup and the Holder or its broker, as applicable,
has been notified of this availability, or if the DWAC Eligible Conditions are not then satisfied, has actually received the certificate
representing the applicable Warrant Shares no later than the close of business on the relevant Delivery Date pursuant to the terms set
forth above.

 

(e) If Warrant Shares are
delivered later than as required under subsection (d) immediately above, the Company agrees to pay, in addition to all other remedies
available to the Holder in the Transaction Documents, a late charge equal to the greater of (i) $2,000.00 and (ii) 2% of the product of
(1) the sum of the number of shares of Common Stock not issued to the Holder on a timely basis and to which the Holder is entitled multiplied
by (2) the Closing Price of the Common Stock on the Trading Day immediately preceding the last possible date which the Company could have
issued such shares of Common Stock to the Holder without violating this Warrant, per Trading Day until such Warrant Shares are delivered.
The Company shall pay any late charges incurred under this subsection in immediately available funds upon demand; provided, however,
that, at the option of the Holder (without notice to the Company), such amount owed may be added to the principal amount of the Note.
Furthermore, in addition to any other remedies which may be available to the Holder, in the event that the Company fails for any reason
to effect delivery of the Warrant Shares as required under subsection (d) immediately above, the Holder may revoke all or part of the
relevant Warrant exercise by delivery of a notice to such effect to the Company, whereupon the Company and the Holder shall each be restored
to their respective positions immediately prior to the exercise of the relevant portion of this Warrant, except that the late charge described
above shall be payable through the date notice of revocation or rescission is given to the Company. In addition to any other rights available
to the Holder, if the Company fails to cause the Company’s transfer agent to transmit to the Holder the Warrant Shares in accordance
with the provisions of this Warrant pursuant to an exercise on or before the respective Delivery Date, and if after such date the Holder
is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases,
shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving
upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder, within one (1) business day of Holder’s
request, the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares
of Common Stock so purchased exceeds (y) the product of (1) the number of Warrant Shares that the Company was required to deliver to the
Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was
executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for
which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder within two (2) business
days of Holder’s request the number of shares of Common Stock that would have been issued had the Company timely complied with its
exercise and delivery obligations hereunder. For example, if the Holder purchases, or effectuates a cashless exercise hereunder for, Common
Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with
an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence, the
Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit
a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree
of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock
upon exercise of the Warrant as required pursuant to the terms hereof.

 

    3

     

    

 

(f) The Holder shall be deemed
to be the holder of the Warrant Shares issuable to it in accordance with the provisions of this Section 2.1 on the Exercise Date.

 

2.2 Ownership Limitation.
If at any time after the Closing, the Holder shall or would receive shares of Common Stock in payment of interest or principal under Note,
upon conversion of Note, under the Warrant, or upon exercise of the Warrant, so that the Holder would, together with other shares of Common
Stock held by it or its Affiliates, own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a
number of shares exceeding 4.99% of the number of shares of Common Stock outstanding on such date (the “Maximum Percentage”),
the Company shall not be obligated and shall not issue to the Holder shares of Common Stock which would exceed the Maximum Percentage,
but only until such time as the Maximum Percentage would no longer be exceeded by any such receipt of shares of Common Stock by the Holder.
The foregoing limitations are enforceable, unconditional and non-waivable and shall apply to all Affiliates and assigns of the Holder.
Additionally, for so long as the Holder or any of its Affiliates own Securities, upon written request from the Holder, the Company shall
post (or cause to be posted), the then-current number of issued and outstanding shares of its capital stock to the Company’s web
page located at OTCmarkets.com (or such other web page approved by the Holder).

 

3.
Mutilation or Loss of Warrant. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction
or mutilation of this Warrant, and (in the case of loss, theft or destruction) receipt of reasonably satisfactory indemnification, and
(in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will execute and deliver to the Holder a new
Warrant of like tenor and date and any such lost, stolen, destroyed or mutilated Warrant shall thereupon become void.

 

4.
Rights of the Holder. The Holder shall not, by virtue of this Warrant alone, be entitled to any rights of a stockholder
in the Company, either at law or in equity, and the rights of the Holder with respect to or arising under this Warrant are limited to
those expressed in this Warrant and are not enforceable against the Company except to the extent set forth herein.

 

5.
Certain Adjustments.

 

5.1 Subdivision or Combination
of Common Stock. If the Company at any time on or after the Issue Date subdivides (by any stock split, stock dividend, recapitalization
or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect
immediately prior to such subdivision will be proportionately reduced and the number of Warrant Shares will be proportionately increased.
If the Company at any time on or after the Issue Date combines (by combination, reverse stock split or otherwise) one or more classes
of its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior to such combination
will be proportionately increased and the number of Warrant Shares will be proportionately decreased. Any adjustment under this Section
5.1 shall become effective automatically at the close of business on the date the subdivision or combination becomes effective, or as
of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend.

 

5.2 Reclassification, Reorganization
and Consolidation. In case of any reclassification, capital reorganization, or change in the capital stock of the Company (other than
as a result of a subdivision, combination, or stock dividend provided for in Section 5.1 above), then the Company shall make appropriate
provision so that the Holder shall have the right at any time prior to the expiration of this Warrant to purchase, at a total price equal
to that payable upon the exercise of this Warrant, the kind and amount of shares of stock and other securities and property receivable
in connection with such reclassification, reorganization, or change by a holder of the same number of shares of Common Stock as were purchasable
by the Holder immediately prior to such reclassification, reorganization, or change. In any such case appropriate provisions shall be
made with respect to the rights and interest of the Holder so that the provisions hereof shall thereafter be applicable with respect to
any shares of stock or other securities and property deliverable upon exercise hereof, and appropriate adjustments shall be made to the
purchase price per Warrant Share payable hereunder, provided the aggregate purchase price shall remain the same.

 

    4

     

    

 

5.3 Fundamental Transactions.
If, at any time while this Warrant is outstanding, (i) the Company effects any merger of the Company with or into another entity and the
Company is not the surviving entity (such surviving entity, the “Successor Entity”), (ii) the Company effects any sale of
all or substantially all of its assets in one or a series of related transactions, (iii) any tender offer or exchange offer (whether by
the Company or by another individual or entity, and approved by the Company) is completed pursuant to which holders of Common Stock are
permitted to tender or exchange their shares of Common Stock for other securities, cash or property and the holders of at least 50% of
the Common Stock accept such offer, or (iv) the Company effects any reclassification of the Common Stock or any compulsory share exchange
pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a
result of a subdivision or combination of shares of Common Stock) (in any such case, a “Fundamental Transaction”), then, upon
any subsequent exercise of this Warrant, the Holder shall have the right to receive the number of shares of Common Stock of the Successor
Entity or of the Company and any additional consideration (the “Alternate Consideration”) receivable upon or as a result of
such reorganization, reclassification, merger, consolidation or disposition of assets by a holder of the number of shares of Common Stock
for which this Warrant is exercisable immediately prior to such event (disregarding any limitation on exercise contained herein solely
for the purpose of such determination). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable
manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given
any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same
choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. To the
extent necessary to effectuate the foregoing provisions, any Successor Entity in such Fundamental Transaction shall issue to the Holder
a new warrant consistent with the foregoing provisions and evidencing the Holder’s right to exercise such warrant into Alternate
Consideration.

 

5.3 Dilutive Issuances.
If the Company or any subsidiary thereof, as applicable, at any time while the Warrant is outstanding, shall sell or grant any option
to purchase, or sell or grant any right to re-price, or otherwise dispose of or issue (or announce any offer, sale, grant or any option
to purchase or other disposition) any Common Stock or Common Stock Equivalents entitling any Person to acquire shares of Common Stock
(other than an Exempt Issuance), at an effective price per share less than the then Exercise Price (such lower price, the “Base
Share Price” and such issuances collectively, a “Dilutive Issuance”) (if the holder of the Common Stock or
Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion,
exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance,
be entitled to receive shares of Common Stock at an effective price per share which is less than the Exercise Price, such issuance shall
be deemed to have occurred for less than the Exercise Price on such date of the Dilutive Issuance), then the Exercise Price shall be reduced
and only reduced to equal the Base Share Price and the number of Warrant Shares issuable hereunder shall be increased such that the Aggregate
Exercise Price Payable hereunder, after taking into account the decrease in the Exercise Price, shall be equal to the Aggregate Exercise
Price prior to such adjustment. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. Notwithstanding
the foregoing, the Holder may only enforce its rights under this Section 5.3 after the date that is one hundred eighty (180) calendar
days after the Issue Date, provided, however, that at such time the Holder may enforce its rights to all adjustments hereunder that apply
even if the Dilutive Issuance occurred prior to the date that is one hundred eighty (180) calendar days after the Issue Date. “Exempt
Issuance” shall mean: (i) Common Stock and Common Stock Equivalents issued pursuant to an Uplist Offering, (ii) Common
Stock or Common Stock Equivalents issued to employees or directors of, or consultants, advisors or service providers to, the Company or
any of its subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors of the Company, (iii) shares
Common Stock actually issued upon the exercise of Common Stock Equivalents for which an adjustment has already been made pursuant to this
Section 5.3, (iv) Common Stock and Common Stock Equivalents issued to banks, equipment lessors or other financial institutions, or
to real property lessors, pursuant to a debt financing, equipment leasing or real property leasing transaction approved by the Board of
Directors of the Company, (v)  Common Stock and Common Stock Equivalents issued to suppliers or third party service providers in
connection with the provision of goods or services pursuant to transactions approved by the Board of Directors of the Company, (vi) Common
Stock and Common Stock Equivalents issued as acquisition consideration pursuant to the acquisition of another business by the Company
by merger, purchase of substantially all of the assets or other reorganization or to a joint venture agreement, provided that such
issuances are approved by the Board of Directors of the Company, and (vii) Common Stock and Common Stock Equivalents issued in connection
with sponsored research, collaboration, technology license, development, OEM, marketing or other similar agreements or strategic partnerships
approved by the Board of Directors of the Company. The Company shall notify the Holder in writing, no later than the Trading Day following
the Dilutive Issuance subject to this Section 5.3, indicating therein the applicable issuance price, or applicable reset price, exchange
price, conversion price and other pricing terms, as well as the applicable increased Warrant Share amount hereunder as a result of such
Dilutive Issuance (such notice the “Dilutive Issuance Notice”). For purposes of clarification, whether or not the Company
provides a Dilutive Issuance Notice pursuant to this Section 5.3, upon the occurrence of any Dilutive Issuance, after the date of such
Dilutive Issuance the Holder is entitled to receive a number of Warrant Shares based upon the Base Share Price as well as utilize the
Base Share Price regardless of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. Notwithstanding
the foregoing, if (i) the Exercise Price is adjusted to the Uplist Exercise Price as described in this Warrant and (ii) the Note has been
repaid in its entirety, then the Holder shall never be entitled to enforce its rights to the adjustments under this Section 5.3 with respect
any Dilutive Issuance(s).

 

    5

     

    

 

5.4 Notice of Adjustment.
Without limiting any other provision contained herein, when any adjustment is required to be made in the number or kind of shares purchasable
upon exercise of this Warrant, or in the Exercise Price, pursuant to the terms hereof, the Company shall promptly notify the Holder of
such event and of the number of Warrant Shares or other securities or property thereafter purchasable upon exercise of this Warrant.

 

5.5 Distribution of Assets.
If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of
shares of Common Stock, by way of return of capital or otherwise (including without limitation any distribution of cash, stock or other
securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement or other similar transaction)
(a “Distribution”), at any time after the issuance of this Warrant, then, in each such case:

 

(a) any
Exercise Price in effect immediately prior to the close of business on the record date fixed for the determination of holders of shares
of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such record date, to a
price determined by multiplying such Exercise Price by a fraction (i) the numerator of which shall be the Closing Price of the shares
of Common Stock on the Trading Day immediately preceding such record date minus the value of the Distribution (as determined in good faith
by the Company’s Board of Directors) applicable to one share of Common Stock, and (ii) the denominator of which shall be the Closing
Price of the shares of Common Stock on the Trading Day immediately preceding such record date; and

 

(b) the
number of Warrant Shares shall be increased to a number of shares equal to the number of shares of Common Stock obtainable immediately
prior to the close of business on the record date fixed for the determination of holders of shares of Common Stock entitled to receive
the Distribution multiplied by the reciprocal of the fraction set forth in Section 5.5(a) of this Warrant; provided, however, that in
the event that the Distribution is of shares of common stock of a company (other than the Company) whose common stock is traded on a national
securities exchange or a national automated quotation system (“Other Shares of Common Stock”), then the Holder may elect to
receive a warrant to purchase Other Shares of Common Stock in lieu of an increase in the number of Warrant Shares, the terms of which
shall be identical to those of this Warrant, except that such warrant shall be exercisable into the number of shares of Other Shares of
Common Stock that would have been payable to the Holder pursuant to the Distribution had the Holder exercised this Warrant immediately
prior to such record date and with an aggregate exercise price equal to the product of the amount by which the exercise price of this
Warrant was decreased with respect to the Distribution pursuant to the terms of Section 5.5(a) of this Warrant and the number of Warrant
Shares calculated in accordance with the first part of this Section 5.5(b) of this Warrant.

 

    6

     

    

 

6.
Certificate as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock issuable on
the exercise of this Warrant, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate designee
to compute such adjustment or readjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment
or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including a statement of (a) the
consideration received or receivable by the Company for any additional shares of Common Stock issued or sold or deemed to have been issued
or sold, (b) the number of shares of Common Stock outstanding or deemed to be outstanding, and (c) the Exercise Price and the number of
shares of Common Stock to be received upon exercise of this Warrant, in effect immediately prior to such adjustment or readjustment and
as adjusted or readjusted as provided in this Warrant. The Company will forthwith mail a copy of each such certificate to the Holder and
any Warrant Agent (as defined below) appointed pursuant to Section 8 hereof. Nothing in this Section 6 shall be deemed to limit any other
provision contained herein.

 

7.
Transfer to Comply with the Securities Act. This Warrant, and the Warrant Shares, have not been registered under the 1933
Act. This Warrant, the Warrant Shares and any other security issued or issuable upon exercise of this Warrant may only be sold, transferred,
pledged or hypothecated (other than to an Affiliate) if (a) there exists an effective registration statement under the 1933 Act relating
to such security or (b) the Company has received an opinion of counsel reasonably satisfactory to the Company that registration is not
required under the 1933 Act. Until such time as registration has occurred under the 1933 Act, each certificate for this Warrant, the Warrant
Shares and any other security issued or issuable upon exercise of this Warrant shall contain a legend, in form and substance satisfactory
to counsel for the Company, setting forth the restrictions on transfer contained in this Section 7. Any such transfer shall be accompanied
by a transferor assignment substantially in the form attached to this Warrant as Exhibit B (the “Transferor Assignment”),
executed by the transferor and the transferee and submitted to the Company. Upon receipt of the duly executed Transferor Assignment, the
Company shall register the transferee thereon as the new Holder on the books and records of the Company and such transferee shall be deemed
a “registered holder” or “registered assign” for all purposes hereunder, and shall have all the rights of the
Holder.

 

8.
Warrant Agent. The Company may, by written notice to the Holder, appoint an agent (a “Warrant Agent”)
for the purpose of issuing shares of Common Stock on the exercise of this Warrant pursuant hereto, exchanging this Warrant pursuant hereto,
and replacing this Warrant pursuant hereto, or any of the foregoing, and thereafter any such issuance, exchange or replacement, as the
case may be, shall be made at such office by such Warrant Agent.

 

9.
Legend. Except as otherwise provided, until such time as the Warrant Shares have been registered under the 1933 Act or otherwise
may be sold pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption without any restriction as to the number of securities
as of a particular date that can then be immediately sold, each certificate for the Warrant Shares that has not been so included in an
effective registration statement or that has not been sold pursuant to an effective registration statement or an exemption that permits
removal of the legend, shall bear a legend substantially in the following form, as appropriate:

 

“NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR (B) AN OPINION OF COUNSEL (WHICH MAY BE THE LEGAL COUNSEL OPINION (AS DEFINED IN THE PURCHASE AGREEMENT)), IN A GENERALLY ACCEPTABLE
FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A, REGULATION S UNDER SAID ACT,
OR OTHER APPLICABLE EXEMPTION. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

    7

     

    

 

10.
Piggyback Registration Rights. The Company shall include the Warrant Shares for resale by Holder at prevailing market prices
(and not fixed prices) on the first registration statement the Company files with the SEC after the successful completion of the Uplist
Offering.

 

11.
Transfer on the Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat
the Holder as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

 

12.
Notices. Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled “Notices”
in the Purchase Agreement, the terms of which are incorporated herein by reference.

 

13.
Supplements and Amendments; Whole Agreement. This Warrant may be amended or supplemented only by an instrument in writing
signed by the parties hereto. This Warrant, together with the Purchase Agreement and all the other Transaction Documents, taken together,
contain the full understanding of the parties hereto with respect to the subject matter hereof and thereof and there are no representations,
warranties, agreements or understandings with respect to the subject matter hereof and thereof other than as expressly contained herein
and therein.

 

14.
Governing Law. This Warrant shall be governed by and interpreted in accordance with the laws of the State of Nevada, without
giving effect to the principles thereof regarding the conflict of laws. The Company and, by accepting this Warrant, the Holder, each irrevocably
(a) consent to and expressly submit to the exclusive personal jurisdiction of any state or federal court sitting in Nevada in connection
with any dispute or proceeding arising out of or relating to this Warrant, (b) agree that all claims in respect of any such dispute or
proceeding may only be heard and determined in any such court, (c) expressly submit to the venue of any such court for the purposes hereof,
and (d) waive any claim of improper venue and any claim or objection that such courts are an inconvenient forum or any other claim or
objection to the bringing of any such proceeding in such jurisdictions or to any claim that such venue of the suit, action or proceeding
is improper. The Company and, by accepting this Warrant, the Holder, each hereby irrevocably consent to the service of process of any
of the aforementioned courts in any such proceeding by the mailing of copies thereof by reputable overnight courier (e.g., FedEx) or certified
mail, postage prepaid, to such party’s address as provided for herein, such service to become effective ten (10) calendar days after
such mailing. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

15.
Remedies. The remedies at law of the Holder of this Warrant in the event of any default or threatened default by the Company
in the performance of or compliance with any of the terms of this Warrant are not and will not be adequate and, without limiting any other
remedies available to the Holder in the Transaction Documents, law or equity, to the fullest extent permitted by law, such terms may be
specifically enforced by a decree for the specific performance of any agreement contained herein or by an injunction against a violation
of any of the terms hereof or otherwise.

 

16.
Counterparts. This Warrant may be executed in any number of counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. Signature delivered
via facsimile or email shall be considered original signatures for purposes hereof.

 

17.
Descriptive Headings. Descriptive headings of the sections of this Warrant are inserted for convenience only and shall not
control or affect the meaning or construction of any of the provisions hereof.

 

18.
Attorney’s Fees. In the event of any litigation or dispute arising from this Warrant, the parties agree that the party
who is awarded the most money shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional award
of the full amount of the attorneys’ fees and expenses paid by said prevailing party in connection with the litigation and/or dispute
without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses. Nothing herein shall
restrict or impair a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

19.
Severability. Whenever possible, each provision of this Warrant shall be interpreted in such a manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be invalid or unenforceable in any jurisdiction, such provision
shall be modified to achieve the objective of the parties to the fullest extent permitted and such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Warrant or the validity or enforceability of this Warrant in any other
jurisdiction.

 

[Remainder of page intentionally left blank]

 

    8

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be duly executed by an officer thereunto duly authorized.

 

Dated: May 18, 2022

 

	 	THE COMPANY:
	 	 	 
	 	Home Bistro, Inc.
	 	 	 
	 	By:	 
	 	 	Zalmi Duchman
	 	 	Chief Executive Officer

 

[Signature page to Warrant]

 

    9

     

    

 

EXHIBIT A

 

NOTICE OF EXERCISE OF WARRANT

 

WARRANT NO. HBIS-[●]

 

Home Bistro, Inc.

4014 Chase Avenue, #212

Miami Beach, FL 33140

Attn: Zalmi Duchman

Email: zalmi@homebistro.com

 

(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. Payment shall take the form of lawful money of the United States.

 

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

 

[  ] in lawful money of the United States;
or

 

[  ] if permitted the cancellation of
such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with
respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3) 
[___] (initial) - Please issue said Warrant Shares in the name of the undersigned or, to the extent that a properly completed and
signed Assignment Form accompanies this Notice of Exercise, in such other name as is specified below:

 

	Name of Registered Holder:	 	 
	Mailing Address for Delivery of Notice of Issuance, Account Statement or Certificates for Common Shares (as applicable):	Address Line 1:	 
	Address Line 2:	 
	Address Line 3:	 
	Attention:	 
	Telephone Number:	 

 

 

 

(4) 
[___] (initial (only if eligible under the terms of the Warrant)) Please deliver the Warrant Shares electronically by crediting
the account of the Holder’s prime broker with The Depository Trust Company through its Deposit/Withdrawal At Custodian (DWAC) system
or Direct Registration System (DRS):

 

	Name of Prime Broker or Custodian:	 
	DTC Broker No.:	 
	Account Name:	 
	Account No.:	 

 

The undersigned undertakes to cause its prime
broker or custodian to take all actions necessary or advisable to accept delivery of the Warrant Shares as soon as practicable after such
Warrant Shares are made available for delivery via DWAC or DRS.

 

(5) 
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended.

 

(6) 
The undersigned has completed and signed an accurate and complete IRS Form W-9 or IRS Form W-8BEN, as applicable, which
is attached to this Notice of Exercise.

 

	 	
    Name of Holder:

     
	 
	 	Signature:	
     

     

	 	Name:	 
	 	
    Title

     
	 
	
    Address for Contact:

     
	Address Line 1:	 
	Address Line 2:	 
	Address Line 3:	 
	Attention:	 
	
    Email Address:

     
	 
	 	Date:	 

    10

     

    

 

EXHIBIT B

 

FORM OF TRANSFEROR ENDORSEMENT

(To be signed only on transfer of the Warrant)

 

For value received, the undersigned hereby sells,
assigns, and transfers unto the person(s) named below under the heading “Transferees” the right represented by the Warrant
to Purchase Shares of Common Stock dated as of  
(the “Warrant”) to purchase the percentage and number of shares of common stock, $0.001 par value (“Common
Stock”), of HOME BISTRO, INC. specified under the headings “Percentage Transferred” and “Number Transferred,”
respectively, opposite the name(s) of such person(s), and appoints each such person attorney to transfer the undersigned’s respective
right on the books of HOME BISTRO, INC. with full power of substitution in the premises.

 

	Transferees	 	Percentage Transferred	 	Number Transferred
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

Dated: _____________________

 

	 	 
	 	[Transferor Name must conform to the name of
	 	Holder as specified on the face of the Warrant]
	 	 
	 	By:	 
	 	Name: 	 

 

	Signed in the presence of:	 
	 	 
	 	 
	(Name)	 
	 	 
	ACCEPTED AND AGREED:	 
	 	 
	 	 
	[TRANSFEREE]	 

 

	By:	 	 
	Name: 	 	 

 

 

11

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