Document:

Exhibit 10.13

 

AVALANCHE INTERNATIONAL CORP.

 

Term Promissory Note

 

	Face Amount: $995,500	April 10, 2018
	Purchase Price: $905,000	New York, NY

 

FOR VALUE RECEIVED, the undersigned,
Avalanche International Corp., (the “Borrower”), promises to pay to the order of Alzamend Neuro, Inc., its successors
or assigns (the “Holder”), Nine Hundred Ninety-Five Thousand, Five Hundred Dollars ($995,500), or such lesser amount
based on the consideration actually paid by Holder (plus a 10% original issue discount) such that Borrower is only required to repay the
amount funded and the Borrower is not required to repay any unfunded portion of this Note, (the “Face Amount”) by the
earlier of April 30, 2019 (the “Maturity Date”) or as otherwise provided in accordance with the terms of this
Term Promissory Note (the “Note”), together with interest, as provided herein.

 

Interest at the rate of ten
percent (10.00%) per annum, to be accrued until the Maturity Date or as otherwise provided in accordance with Section 3 hereof, and
any other amounts due hereunder, are payable in lawful money of the United States of America to the Holder or its transferee, the name
of which transferee shall be disclosed to the Borrower by the Holder no later than within two (2) business days (which term “business
day” shall be defined as any day other than a Saturday, Sunday, or a day that the Federal Reserve Bank of New York is closed) of
any such transfer, but in no event later than a date that would prevent the Borrower from making a timely interest payment to such transferee
as set forth in Section 2. Interest may be paid in cash at the Maturity Date, which includes the option of the Borrower to accelerate
the payment of amounts due hereunder pursuant to Section 3 hereof, which election shall be communicated to the Holder in writing.

 

All payments due under this
Note shall rank senior to all other existing and future unsecured indebtedness of the Company and shall rank junior only to such payments
and indebtedness due to DPW Holdings, Inc.

 

Section 1.         Maturity.
Subject to the redemption provisions contained herein, the Face Amount, along with any interest accrued thereon, shall be repaid in cash
at the Maturity Date, unless earlier prepaid as set forth below.

 

Section 2.         Interest
Payments. The Borrower shall pay interest to the Holder on the aggregate principal amount of this Note at the rate of ten percent
(10%) per annum. Following the Closing Date, all interest payments hereunder shall be payable in cash. Accrued and unpaid interest shall
be due and payable on the Maturity Date.

 

Section 3.         Prepayment.
The Borrower may at any time prepay any portion of the principal amount of this Note, plus any accrued and unpaid interest. If the Borrower
exercises its right to prepay the Note, the Borrower shall make payment to the Holder of an amount in cash equal to the sum of the Face
Amount plus any accrued and unpaid interest.

 

     

     

    

 

Section 4.         Transferability.
This Note and any of the rights granted hereunder are freely transferable or assigned by Holder, in whole or in part, in its sole discretion
but with notice to the Borrower as set forth in the preamble hereto.

 

Section 5.         Event
of Default.

 

(a)      In
the event that any one of the following events shall occur (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), it shall be deemed an “Event of Default” hereunder:

 

(i)            Any
default in the payment of the principal of, interest on or other charges in respect of this Note, or any other note issued by the Borrower
for the benefit of the Holder, as and when the same shall become due and payable;

 

(ii)           Borrower
shall fail to observe or perform any other material covenant, agreement or warranty contained in, or otherwise commit any breach or default
of any provision of this Note or any other agreement between the Borrower and the Holder, which default is not cured within five (5) business
days;

 

(iii)
            There shall be a breach of any of the representations and warranties set forth in this Note or the Addendum attached hereto, or any
other report, financial statement or certificate made or delivered to Holder shall be untrue or incorrect in any material respect as
of the date when made or deemed made, which default is not cured within five (5) business days;

 

(iv)          Borrower,
shall commence, or there shall be commenced against Borrower, any applicable bankruptcy or insolvency laws as now or hereafter in effect
or any successor thereto; or Borrower 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 Borrower;
or there is commenced against Borrower any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of sixty
(60) days; or Borrower is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding
is entered; or Borrower 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 (60) days; or Borrower makes a general assignment
for the benefit of creditors; or Borrower shall fail to pay or shall state that it is unable to pay or shall be liable to pay, its debts
as they become due or 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 Borrower for the purpose of effecting any of the foregoing.

 

     

     

    

 

(b)    Remedies
Upon Event of Default. If any Event of Default occurs, then the outstanding principal amount of this Note, liquidated damages and
other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due
and payable in cash at the Mandatory Default Amount (as defined below). After the occurrence of any Event of Default that results in the
eventual acceleration of this Note, the Note shall accrue interest at an interest rate equal to the lesser of 1.5% per month (18% per
annum) or the maximum rate permitted under applicable law (the “Default Rate”). The Default Rate shall be computed
from the occurrence of the Event of Default until the date upon which the Event of Default is cured. In the event of an occurrence of
an Event of Default, an amount equal to a premium of 30% of all principal and interest (calculated at the Default Rate) (the “Mandatory
Default Amount”) due shall be immediately added to the principal due under the Note without any action on the part of the Holder.
Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the Borrower.
In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand,
protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of
its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and
annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time,
if any, as the Holder receives full payment pursuant to this Section 5(b). No such rescission or annulment shall affect any subsequent
Event of Default or impair any right consequent thereon.

 

(c)      Upon
the occurrence of an Event of Default, the Holder shall be entitled to receive, in addition to the Face Amount of the Note, interest thereon
and the Mandatory Default Amount, the Holder shall be entitled to recover all of its costs, fees (including without limitation, reasonable
attorney’s fees and disbursements), and expenses relating to the collection and enforcement of this Note, including all costs and
expenses incurred by it in enforcing its rights under the Note and any transaction document entered into contemporaneously herewith.

 

(d)     The
failure of Holder to exercise any of its rights hereunder in any particular instance shall not constitute a waiver of the same or of any
other right in that or any subsequent instance with respect to Holder or any subsequent holder. Holder need not provide, and Borrower
hereby waives, any presentment, demand, protest or other notice of any kind, and Holder may immediately and without expiration of any
grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. The
remedies available to the Holder upon the occurrence of an Event of Default shall be cumulative.

 

Section 6.       Notices.
Any and all notices, service of process or other communications or deliveries required or permitted to be given or made pursuant to any
of the provisions of this Note shall be deemed to have been duly given or made for all purposes when hand delivered or sent by certified
or registered mail, return receipt requested and postage prepaid, overnight mail or courier as follows:

 

If to Holder, at:

 

Alzamend Neuro, Inc.

50 W. Broadway, 3rd Floor

Salt Lake City, UT 84101

Attn: Chief Financial Officer

 

Or such other address as may be given
to the Borrower from time to time.

 

     

     

    

 

If to Borrower, at:

 

Avalanche International Corp.

5940 S. Rainbow Blvd.

Las Vegas, NV 89118

Attn: Philip Mansour

 

Or such other address as may be given
to the Holder from time to time.

 

Section 7.         Usury.
This Note is hereby expressly limited so that in no event whatsoever, whether by reason of acceleration of maturity of the loan evidenced
hereby or otherwise, shall the amount paid or agreed to be paid to the Holder hereunder for the loan, use, forbearance or detention of
money exceed that permissible under applicable law. If at any time the performance of any provision of this Note or of any other agreement
or instrument entered into in connection with this Note involves a payment exceeding the limit of the interest that may be validly charged
for the loan, use, forbearance or detention of money under applicable law, then automatically and retroactively, ipso facto,
the obligation to be performed shall be reduced to such limit, it being the specific intent of the Borrower and the Holder that all payments
under this Note are to be credited first to interest as permitted by law, but not in excess of (i) the agreed rate of interest
set forth herein or therein or (ii) that permitted by law, whichever is the lesser, and the balance toward the reduction of
principal. The provision of this Section 7 shall never be superseded or waived and shall control every other provision of this Note
and all other agreements and instruments between the Borrower and the Holder entered into in connection with this Note. To the extent
permitted by applicable law, Borrower waives any right to assert the defense of usury. Furthermore, for the avoidance of doubt, the Borrower
covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Borrower from paying
all or any portion of the principal of or interest on this Note as contemplated herein, wherever enacted, now or at any time hereafter
in force, or which may affect the covenants or the performance of this Note, and the Company (to the extent it may lawfully do so) hereby
expressly waives all benefits or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or
impede the execution of any power herein granted to the Holder, but will suffer and permit the execution of every such as though no such
law has been enacted.

 

Section 8.         Governing
Law; Waiver of Jury Trial. This Note and the provisions hereof are to be construed according to and are governed by the laws of the
State of New York, without regard to principles of conflicts of laws thereof. Borrower agrees that the New York State Supreme Court located
in the County of New York, State of New York shall have exclusive jurisdiction in connection with any dispute concerning or arising out
of this Note or otherwise relating to the relationship of the parties hereto. In any action, lawsuit or proceeding brought to enforce
or interpret the provisions of this Note and/or arising out of or relating to any dispute between the parties hereto, Holder shall be
entitled to recover all of its costs and expenses relating collection and enforcement of this Note (including without limitation, reasonable
attorney’s fees and disbursements) in addition to any other relief to which Holder may be entitled. Each party hereto agrees that
any process or notice to be served or delivered in connection with any action, lawsuit or proceeding brought hereunder may be accomplished
in accordance with the notice provisions set forth above or as otherwise provided by applicable law. BORROWER HEREBY WAIVES TRIAL BY JURY
IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATING
TO THIS NOTE.

 

     

     

    

 

Section 9.         Successors
and Assigns. Subject to applicable securities laws, this Note and the rights and obligations evidenced hereby shall inure to the benefit
of and be binding upon the successors of Borrower and the successors and assigns of Holder.Section 10.

 

Section 10.        Payment
of Legal Fees. All costs of collection, including any legal fees associated with this Note, will be paid by the Borrower.

 

Section 11.       Amendment.
This Note may be modified or amended, or the provisions hereof waived, only with the written consent of Holder and Borrower.Section 12.

 

Section 13.       Severability.
Wherever possible, each provision of this Note shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Note shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Note.

 

IN WITNESS WHEREOF, Borrower
has caused this Note to be executed by a duly authorized officer as of the date first above indicated.

 

	 	AVALANCHE INTERNATIONAL CORP.  

 

	 	By:	 
	 	 	Name: Philip E. Mansour
	 	 	Title: Chief Executive Officer  

 

     

     

    

 

ADDENDUM

 

Borrow and Holder each explicitly acknowledge
that Holder is relying on the following representations and warranties in connection with Holder subscribing to the Note:

 

(i)            Borrower
and each of its subsidiaries is duly organized, validly existing and in good standing under the laws of the state of their respective
organization and are duly qualified and in good standing or has applied for qualification as a foreign corporation authorized to do business
in each jurisdiction where, because of the nature of its activities or properties, such qualification is required, except where the failure
to be so qualified would not reasonably be expected to have a material adverse effect on (a) the business, assets, property, operations,
or condition (financial or otherwise) of Borrower, (b) the validity or enforceability of this Note or (c) the rights or remedies
of the Holder hereunder or thereunder (a “Material Adverse Effect”).

 

(ii)          The
execution, delivery and performance of the Note and the transactions contemplated thereby by Borrower, including, but not limited to,
the sale and issuance of the Note for the Purchase Price, (i) are within Borrower’s corporate powers, (ii) have been duly
authorized by all necessary action by or on behalf of Borrower (and/or its stockholders to the extent required by law), (iii) Borrower
has received all necessary and/or required governmental, regulatory and other approvals and consents (if any shall be required), (iv) do
not and shall not contravene or conflict with any provision of, or require any consents under (1) any law, rule, regulation or ordinance,
(2) the Borrower’s organizational documents; and/or (3) any agreement binding upon Borrower or any of Borrower’s
properties except as would not reasonably be expected to have a Material Adverse Effect, and (v) do not result in, or require, the
creation or imposition of any lien and/or encumbrance on any of Borrower’s properties or revenues pursuant to any law, rule, regulation
or ordinance or otherwise.

 

(iii)          The
Note has been duly authorized and, when issued and paid for, will be duly and validly issued, fully paid and nonassessable, free and
clear of all liens and all restrictions on transfer other than those expressly imposed by the federal securities laws and vest in
the Holder full and sole title and power to the Note purchased hereby by the Holder.

 

(iv)          Borrower’s
obligations under the Note are legal, valid and binding obligations of Borrower, enforceable against Borrower in accordance with their
respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization and other similar laws of general
application affecting the rights and remedies of creditors and by general equitable principles (whether enforcement is sought by proceedings
in equity or at law).

 

(v)           Borrower
has good and marketable title to all assets owned by Borrower.

 

(vi)          Borrower
is not in violation of any law, ordinance, rule, regulation, judgment, decree or order of any federal, state or local governmental body
or court and/or regulatory or self-regulatory body, except as would not reasonably be expected to have a Material Adverse Effect.Exhibit 10.14

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (the “Agreement”), dated as of August 31, 2020, by and between ALZAMEND NEURO, INC.,
a Delaware corporation, with headquarters located at 3802 Spectrum Blvd., Suite #112C, Tampa, FL 33612 (the “Company”),
and DPW HOLDINGS, INC., a Delaware corporation, with its address at 201 Shipyard Way, Suite E, Newport Beach, CA 92663
(the “Buyer”).

 

WHEREAS:

 

A. The Company and the Buyer
are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of
the Securities Act of 1933, as amended (the “1933 Act”);

 

B. Buyer desires to purchase
from the Company, and the Company desires to issue and sell to the Buyer, upon the terms and conditions set forth in this Agreement, a
Convertible Promissory Note of the Company, in the aggregate principal amount of $50,000.00 (as the principal amount thereof may be increased
pursuant to the terms thereof, and together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise
with respect thereto in accordance with the terms thereof, in the form attached hereto as Exhibit A, the “Note”),
convertible into shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock”), upon the
terms and subject to the limitations and conditions set forth in such Note;

 

C. The Company wishes to issue
the Warrant (as defined below) to the Buyer as additional consideration for entering into this Agreement, as further provided herein.

 

NOW THEREFORE, in consideration
of the foregoing and of the agreements and covenants herein contained, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

1. Purchase and Sale of Note.

 

a. Purchase of Note. On
the Closing Date (as defined below), the Company shall issue and sell to the Buyer, and the Buyer agrees to purchase from the Company,
the Note and the Warrant, as further provided herein.

 

b. Form of Payment. On
the Closing Date: (i) the Buyer shall pay the purchase price of $50,000.00 (the “Purchase Price”) for the Note,
to be issued and sold to it at the Closing (as defined below), by wire transfer of immediately available funds to the Company, or otherwise
in accordance with the Company’s written wiring instructions, against delivery of the Note, and (ii) the Company shall deliver
such duly executed Note and Warrant on behalf of the Company, to the Buyer, against delivery of such Purchase Price.

 

c. Closing Date. Subject
to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section 7 below, the date and time
of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be 4:00 PM, Eastern Time
on the date first written above, or such other mutually agreed upon time.

 

d. Closing. The closing
of the transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location
as may be agreed to by the parties (including via exchange of electronic signatures).

 

e. Warrant Shares.
At the time of Buyer’s funding of the Note, the Company shall issue to Buyer, a warrant to purchase 16,667 of shares of its Common
Stock in the form attached hereto as Exhibit B (the “Warrant”).

 

     

     

    

 

2. Buyer’s Representations
and Warranties. The Buyer represents and warrants to the Company as of the Closing Date that:

 

a. Investment Purpose.
As of the Closing Date, the Buyer is purchasing the Note, the Warrant, and the shares of Common Stock issuable upon conversion of or otherwise
pursuant to the Note and such additional shares of Common Stock, if any, as are issuable on account of interest on the Note pursuant to
this Agreement (the “Conversion Shares”) and/or upon exercise of the Warrant (the “Warrant Shares,”
and with the Conversion Shares, the “Issuable Shares” and, collectively with the Note and the Warrant, the “Securities”)
for its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or
exempted from registration under the 1933 Act; provided, however, that by making the representations herein, the
Buyer does not agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities
at any time in accordance with or pursuant to a registration statement or an exemption under the 1933 Act.

 

b. Reliance on Exemptions. The
Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions from the registration requirements
of United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the Buyer’s
compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Buyer set forth herein in order
to determine the availability of such exemptions and the eligibility of the Buyer to acquire the Securities.

 

c. Information. The
Buyer and its advisors, if any, have been, furnished with all materials relating to the business, finances and operations of the Company
and materials relating to the offer and sale of the Securities which have been requested by the Buyer or its advisors. The Buyer and its
advisors, if any, have been afforded the opportunity to ask questions of the Company regarding its business and affairs. Notwithstanding
the foregoing, the Company has not disclosed to the Buyer any material nonpublic information regarding the Company or otherwise and will
not disclose such information unless such information is disclosed to the public prior to or promptly following such disclosure to the
Buyer. Neither such inquiries nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives shall
modify, amend or affect Buyer’s right to rely on the Company’s representations and warranties contained in Section 3
below.

 

d. Transfer or Re-sale. The
Buyer understands that (i) the sale or resale of the Securities has not been and is not being registered under the 1933 Act or any
applicable state securities laws, and the Securities may not be transferred unless (a) the Securities are sold pursuant to an effective
registration statement under the 1933 Act, (b) the Buyer shall have delivered to the Company, at the cost of the Company, an opinion
of counsel (which may be the Legal Counsel Opinion (as defined below)) that shall be in form, substance and scope customary for opinions
of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant
to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred
to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”))
of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an
Accredited Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation
S under the 1933 Act (or a successor rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at
the cost of the Company, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate
transactions, which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144
may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such
Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as
that term is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations
of the SEC thereunder; and (iii) neither the Company nor any other person is under any obligation to register such Securities under
the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case).
Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities may be pledged in connection with a bona
fide margin account or other lending arrangement secured by the Securities, and such pledge of Securities shall not be deemed
to be a transfer, sale or assignment of the Securities hereunder, and the Buyer in effecting such pledge of Securities shall be not required
to provide the Company with any notice thereof or otherwise make any delivery to the Company pursuant to this Agreement or otherwise.

 

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e. Legends. The
Buyer understands that until such time as the Note, Warrant, and, upon conversion of the Note and/or exercise of the Warrant in accordance
with its respective terms, the Conversion Shares and the Warrant Shares, have been registered under the 1933 Act or may be sold pursuant
to Rule 144, Rule 144A under the 1933 Act or Regulation S without any restriction as to the number of securities as of a particular
date that can then be immediately sold, the Securities may bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

 

“NEITHER THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE [CONVERTIBLE/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 COUNSEL SHALL BE SELECTED BY THE HOLDER), IN FORM, SUBSTANCE,
AND SCOPE CUSTOMARY FOR OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD PURSUANT TO RULE 144, RULE 144A OR REGULATION S UNDER SAID ACT. 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.”

 

f. Authorization; Enforcement. This
Agreement has been duly and validly authorized by the Buyer and has been duly executed and delivered on behalf of the Buyer, and this
Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its terms, except
as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights
generally and except as may be limited by the exercise of judicial discretion in applying principles of equity.

 

3. Representations and Warranties
of the Company. The Company represents and warrants to the Buyer as of the Closing Date that:

 

a. Organization and Qualification. The
Company is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated,
with full power and authority (corporate and other) to own, lease, use and operate its properties and to carry on its business as and
where now owned, leased, used, operated and conducted. The Company is duly qualified as a foreign corporation to do business and is in
good standing in every jurisdiction in which its ownership or use of property or the nature of the business conducted by it makes such
qualification necessary except where the failure to be so qualified or in good standing would not have a Material Adverse Effect. “Material
Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition or prospects of the
Company, taken as a whole, or on the transactions contemplated hereby or by the agreements or instruments to be entered into in connection
herewith.

 

b. Authorization; Enforcement. (i) The
Company has all requisite corporate power and authority to enter into and perform this Agreement, the Note, and to consummate the transactions
contemplated hereby and thereby and to issue the Securities, in accordance with the terms hereof and thereof, (ii) the execution
and delivery of this Agreement, the Warrant, the Note, and the Issuable Shares by the Company and the consummation by it of the transactions
contemplated hereby and thereby (including without limitation, the issuance of the Note, Warrant, as well as the issuance and reservation
for issuance of the Issuable Shares issuable upon conversion of the Note and/or exercise of the Warrant) have been duly authorized by
the Company’s Board of Directors and no further consent or authorization of the Company, its Board of Directors, its shareholders,
or its debt holders is required, (iii) this Agreement and the Note (together with any other instruments executed in connection herewith
or therewith) have been duly executed and delivered by the Company by its authorized representative, and such authorized representative
is the true and official representative with authority to sign this Agreement, the Note and the other instruments documents executed in
connection herewith or therewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery
by the Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with their terms.

 

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c. Issuance of Issuable
Shares. The Issuable Shares are duly authorized and reserved for issuance and, upon conversion of the Note and exercise of the
Warrant in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens,
claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders
of the Company and will not impose personal liability upon the holder thereof.

 

d. Issuance of Note and
Warrant. The issuance of the Warrant is duly authorized and will be validly issued and free from all taxes, liens, claims and
encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of
the Company and will not impose personal liability upon the holder thereof.

 

e. SEC Documents; Financial
Statements. The Company has timely filed all reports, schedules, forms, statements and other documents required to be filed by
it with the SEC pursuant to the reporting requirements of Regulation A promulgated under the 1933 Act (“Regulation A”)
(all of the foregoing filed prior to the date hereof and all exhibits included therein and financial statements and schedules thereto
and documents (other than exhibits to such documents) incorporated by reference therein, being hereinafter referred to herein as the “SEC
Documents”). As of their respective dates, the SEC Documents complied in all material respects with the requirements of the
1933 Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents,
at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading.

 

4. ADDITIONAL COVENANTS, AGREEMENTS AND ACKNOWLEDGEMENTS.

 

a. Best Efforts. The
parties shall use their best efforts to satisfy timely each of the conditions described in Sections 6 and 7 of this Agreement.

 

b. Form D; Blue
Sky Laws. The Company agrees to file a Form D with respect to the Securities as required under Regulation D, as needed, and to
provide a copy thereof to the Buyer promptly after such filing. The Company shall, on or before the Closing Date, take such action as
the Company shall reasonably determine is necessary to qualify the Securities for sale to the Buyer at the applicable closing pursuant
to this Agreement under applicable securities or “blue sky” laws of the states of the United States (or to obtain an exemption
from such qualification), and shall provide evidence of any such action so taken to the Buyer on or prior to the Closing Date.

 

c. Use of Proceeds. The
Company shall use the proceeds from the Note solely for the payment of legal fees of Lankler Siffert & Wohl LLP.

 

5. Transfer Agent Instructions. The
Company shall issue irrevocable instructions to the Company’s transfer agent to issue certificates, registered in the name
of the Buyer or its nominee, upon conversion of the Note and/or exercise of the Warrant, the Conversion Shares, in such amounts as specified
from time to time by the Buyer to the Company in accordance with the terms thereof (the “Irrevocable Transfer Agent Instructions”).

 

6. Conditions to the Company’s
Obligation to Sell. The obligation of the Company hereunder to issue and sell the Note to the Buyer at the Closing is subject
to the satisfaction, at or before the Closing Date, of each of the following conditions thereto, provided that these conditions are for
the Company’s sole benefit and may be waived by the Company at any time in its sole discretion:

 

a. The Buyer shall have executed
this Agreement and delivered the same to the Company.

 

b. The Buyer shall have delivered
the Purchase Price in accordance with Section 1(b) above.

 

c. The representations and
warranties of the Buyer shall be true and correct in all material respects as of the date when made and as of the Closing Date, as though
made at that time (except for representations and warranties that speak as of a specific date), and the Buyer shall have performed, satisfied
and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied
or complied with by the Buyer at or prior to the Closing Date.

 

    4

     

    

 

7. Conditions to the Buyer’s
Obligation to Purchase. The obligation of the Buyer hereunder to purchase the Note, on the Closing Date, is subject to the satisfaction,
at or before the Closing Date, of each of the following conditions, provided that these conditions are for the Buyer’s sole benefit
and may be waived by the Buyer at any time in its sole discretion:

 

a. The Company shall have
executed this Agreement and delivered the same to the Buyer.

 

b. The Company shall have
delivered to the Buyer the duly executed Note in such denominations as the Buyer shall request and in accordance with Section 1(b) above.

 

c. The Company shall have
delivered to the Buyer the Warrant in accordance with Section 1(e) above.

 

d. The representations and
warranties of the Company shall be true and correct in all material respects as of the date when made and as of Closing Date, as though
made at such time (except for representations and warranties that speak as of a specific date) and the Company shall have performed, satisfied
and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied
or complied with by the Company at or prior to the Closing Date.

 

8. Governing Law; Miscellaneous.

 

a. Governing Law; Venue. This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard to principles of
conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Agreement, the
Note, or any other agreement, certificate, instrument or document contemplated hereby shall be brought only in the state courts of New
York or in the federal courts located in the state and county of New York. The parties to this Agreement hereby irrevocably waive any
objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction
or venue or based upon forum non conveniens. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT
TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTIONS
CONTEMPLATED HEREBY. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and
costs. Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement, the Note, or any other agreement, certificate, instrument or document contemplated hereby or thereby
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law.

 

b. Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which shall constitute one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. A
facsimile or .pdf signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and
effect as if the signature were an original, not a facsimile or .pdf signature. Delivery of a counterpart signature hereto by facsimile
or email/.pdf transmission shall be deemed validly delivery thereof.

 

c. Construction; Headings. 
This Agreement shall be deemed to be jointly drafted by the Company and the Buyer and shall not be construed against any person as the
drafter hereof. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation
of, this Agreement.

 

    5

     

    

 

d. Severability. In
the event that any provision of this Agreement, the Note, or any other agreement or instrument delivered in connection herewith is invalid
or unenforceable under any applicable statute or rule of law, 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 Agreement,
the Note, or any other agreement, certificate, instrument or document contemplated hereby or thereby.

 

e. Entire Agreement; Amendments. This
Agreement, the Note, and the instruments referenced herein contain the entire understanding of the parties with respect to the matters
covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor the Buyer makes any representation,
warranty, covenant or undertaking with respect to such matters. No provision of this Agreement or any agreement or instrument contemplated
hereby may be waived or amended other than by an instrument in writing signed by the Buyer.

 

f. Notices.  All
notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless
otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt
requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand
delivery, telegram, e-mail or facsimile, addressed as set forth below or to such other address as such party shall have specified most
recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon
hand delivery or delivery by e-mail or facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address
or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be
received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to
such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the Company, to:

 

ALZAMEND NEURO, INC.

3802 Spectrum Blvd., Suite #112C

Tampa, FL 33612

Attention: Stephan Jackman

e-mail: SJackman@Alzamend.com

 

If to the Buyer:

 

DPW HOLDINGS, INC.

201 Shipyard Way, Suite E

Newport Beach, CA 92663

Attn: Milton C. Ault, III

e-mail: Todd@DPWHoldings.com

 

g. Successors and Assigns. This
Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither the Company nor the
Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other. Notwithstanding
the foregoing, subject to Section 2(f), the Buyer may assign its rights hereunder to any person that purchases Securities in a private
transaction from the Buyer or to any of its “affiliates,” as that term is defined under the 1933 Act, without the consent
of the Company.

 

h. Third Party Beneficiaries. This
Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the
benefit of, nor may any provision hereof be enforced by, any other person.

 

i. Survival. The
representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the closing hereunder
notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to indemnify and hold harmless
the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result of or related to any breach or
alleged breach by the Company of any of its representations, warranties and covenants set forth in this Agreement or any of its covenants
and obligations under this Agreement, including advancement of expenses as they are incurred.

 

    6

     

    

 

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

 

k. No Strict Construction. The
language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of
strict construction will be applied against any party.

 

[Signature Page Follows]

 

    7

     

    

 

IN WITNESS WHEREOF, the undersigned
Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

ALZAMEND NEURO, INC.

 

	By:	 	 
	 	Name: STEPHAN JACKMAN	 
	 	Title: CHIEF EXECUTIVE OFFICER	 

 

DPW HOLDINGS, INC.

 

	By:	 	 
	 	Name: Milton C. Ault, III	 	 
	 	Title: Chief Executive Officer	 	 

 

SUBSCRIPTION AMOUNT:

 

	Principal Amount of Note: $50,000.00
	Actual Amount of Purchase Price of Note: $50,000.00*

 

* The purchase price of $50,000.00, for the Note
shall be paid contemporaneously with the full execution of the Note and all related transaction documents.

 

    8

     

    

 

EXHIBIT A

 

FORM OF NOTE

 

[attached hereto]

 

    9

     

    

 

EXHIBIT B

 

FORM OF WARRANT

 

[attached hereto]

 

    10

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