Document:

Exhibit 10.26

  

EXECUTIVE
EMPLOYMENT AGREEMENT

 

(this
“Agreement”)

 

B
E T W E E N:

 

TearLab
Corporation, a corporation incorporated under the laws of the State of Delaware

 

(the
“Corporation”)

 

  - and -

 

Elias
Vamvakas, an individual residing in the City/Town of Toronto, in the Province of Ontario

 

(the
“Executive”)

 

WHEREAS
the Executive is currently employed with the Corporation in an executive capacity and has extensive access to the customers,
suppliers, distribution processes and other unique and valuable confidential information and trade secrets of the Corporation;

 

 AND
WHEREAS the Corporation and the Executive desire to enter into a written employment agreement to confirm in writing the rights
and obligations of each of them in respect of the Executive’s employment with the Corporation;

 

 NOW
THEREFORE in consideration of the above, the mutual covenants and agreements contained in this Agreement, and other good and
valuable consideration, the sufficiency of which is hereby acknowledged, the Corporation and the Executive agree as follows.

 

	1.	Interpretation
	 	 
	1.1	Headings,
    Sections and Plural. The inclusion of headings in this Agreement is for convenience of reference only and shall not affect
    its construction or interpretation. In this Agreement, references to a “Section” or to “Sections”
    are references to a section or sections in this Agreement, unless expressly stated otherwise. Throughout this Agreement, whenever
    required by context, words importing the singular include the plural and vice versa.
	 	 
	1.2	Recitals.
    The recitals set out above are true and correct and form part of this Agreement.
	 	 
	1.3	Deductions,
    Withholdings and Taxes. The payments to the Executive set out in this Agreement are subject to applicable deductions,
    withholdings and taxes.
	 	 
	1.4	Benefit
    Contributions and Participation. The Corporation’s contributions to, the Executive’s participation in, and
    any conversion of, the group benefit plans as set out in this Agreement are subject to the terms and conditions of the benefit
    plans, and changes to or cancellations of such plans over time, as may be made with such notice to the Executive as is practical
    in the circumstances, and in the sole discretion of the Corporation.

 

    			 

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	2.	Term
    and Duties
	 	 
	2.1	Effective
    Date. The Corporation agrees to continue the employment of the Executive on the terms and conditions set out in this Agreement
    effective January 1, 2016.
	 	 
	2.2	Position.
    The Executive will serve in an executive capacity as the Executive Chairman. To the extent that the Executive serves as
    a member of the board of directors of the Corporation (the “Board”), he will serve in good faith and without
    compensation other than as set out in Section 3.
	 	 
	2.3	Duties.
    The Executive will perform the duties customarily performed in his position, including regularly reporting to the Board.
	 	 
	2.4	Good
    Faith. The Executive shall devote sufficient time and attention to the affairs of the Corporation necessary to fulfill
    his duties and obligations hereunder and will use his best efforts, skills and abilities to honestly, faithfully, diligently
    and in good faith promote the Corporation's best interests, and he shall not have any interests that conflict with those of
    the Corporation. The Executive shall observe and abide by the policies of the Corporation.
	 	 
	3.	Compensation
	 	 
	3.1	Base
    Salary. The Corporation agrees to pay the Executive an annual base salary of USD$150,000, payable in accordance with the
    Corporation’s payroll practices; increased by the Board from time to time as it feels appropriate.
	 	 
	3.2	Discretionary
    Bonus. The Executive will be eligible for an annual discretionary bonus of fifty percent (50%) of the annual base salary
    (i.e. up to USD$75,000 for fiscal year 2016), subject to his achievement of performance targets established by the Board prior
    to the commencement of each fiscal year. Any annual bonus will be paid as soon as administratively practicable after it is
    earned by the Executive.
	 	 
	4.	Expenses,
    Benefits and Vacation
	 	 
	4.1	Expenses.
    The Executive will be reimbursed for his reasonable and approved business expenses incurred by him in connection with
    the performance of his duties under this Agreement, upon providing appropriate receipts satisfactory to the Corporation and
    in accordance with the Corporation’s policies.
	 	 
	4.2	Entertainment.
    The Executive will be reimbursed for club membership fees of up to $USD 20,000 per year. Such amounts shall not accrue or
    otherwise be carried over from year to year and, therefore, if any such amount is not utilized by the Executive in a calendar
    year, such amount shall be forfeit.
	 	 
	4.3	Benefit
    Plans. The Executive will be eligible to participate in the group benefit plans providing for medical, short-term disability
    and long-term disability benefits, and such other benefits as may be made available to the Executive from time to time in
    accordance with the terms and conditions of such plans and subject to amendments to such plans as may be made in the sole
    discretion of the Corporation.
	 	 
	4.4	Disability
    Coverage. The Executive will be reimbursed for his reasonable and approved expenses incurred by him in connection with
    his participation in private disability insurance coverage, upon providing appropriate receipts satisfactory to the Corporation.
    Any disability insurance reimbursement will be paid as soon as administratively practicable after substantiated receipts are
    received by the Corporation from the Executive.

 

    			 

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	5.	Termination
	 	 
	5.1	Right
    to Terminate. The Corporation may terminate the Executive’s employment at any time, with or without cause, and with
    or without prior notice. The Executive may terminate his employment with the Corporation at any time, for any or no reason.
	 	 
	5.2	Consequences
    of Termination. Upon termination of the Executive’s employment for any reason, the Corporation will reimburse the
    Executive’s expenses properly incurred until the date his employment ceases and pay (i) subject to Section 5.3, a lump
    sum payment of $700,000 on the sixtieth (60th) day following the date of the Executive’s termination of employment,
    payable (at the Executive’s discretion) in the form of cash or a number of shares of the Corporation’s common
    stock having a then-current Fair Market Value (as defined in the Corporation’s 2002 Stock Incentive Plan, as amended)
    equal to $700,000 (rounded to the nearest whole share) (the “Severance Payment”), and (ii) the Executive’s
    base salary and vacation pay accrued until the date his employment ceases. The termination of the Executive’s employment
    terminates any director or officer positions the Executive may hold pursuant to Section 2.2, and the Executive agrees to sign
    any documentation necessary to give effect to this Section 5.2, or to give effect to any pro forma resolutions of the Corporation
    in respect of the period prior to termination of his employment.
	 	 
	5.3	Release
    Requirement. The receipt of the Severance Payment (other than as a result of termination of employment due to death or
    disability of the Executive) is subject to the Executive signing and not revoking the Corporation’s standard release
    of claims.
	 	 
	5.4	Conversion
    of Benefits on Termination. On the earlier of the termination of Executive’s participation in the group benefit
    plans or the cessation of his employment for any reason, the Executive may be eligible under applicable law to convert the
    group insured benefits to private coverage within ninety (90) days, without evidence of insurability. The Executive is responsible
    for promptly arranging for any conversion options he may have or obtaining alternate benefits if he chooses to do so.
	 	 
	5.5	Compliance
    with Laws. The Executive’s entitlements under this Section 5 are provided in full satisfaction of the Executive’s
    entitlements to notice of termination, pay in lieu of notice, and severance pay, if any, under the applicable employment standards
    laws, under this Agreement, under civil law, at common law or otherwise.
	 	 
	6.	Confidential
    Information and Return of Property
	 	 
	6.1	Confidentiality
    Obligation. The Executive covenants and agrees that he shall not, at any time during his employment with the Corporation
    or any time thereafter, without the prior written consent of the Corporation, directly or indirectly, communicate, reveal
    or disclose, in any manner, to anyone, or use for any purpose other than in carrying out his duties under this Agreement in
    furtherance of the Corporation’s business interests, any confidential or proprietary information concerning, or learned
    as a result of his employment with, the Corporation or its predecessors, successors, affiliates or related companies including,
    without limitation, information concerning their assets, businesses, affairs, pricing, costs, technical information, financial
    information, plans or opportunities, manufacturing, processes, sales and distribution, marketing, research and development,
    customers, suppliers or employees.

 

    			 

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	6.2	Return
    of Property. Upon ceasing to be employed by the Corporation or upon request of the Corporation at any time, the Executive
    shall return to the Corporation all property belonging to the Corporation or its predecessors, successors, affiliates or related
    companies including, without limitation, all documents in any format whatsoever including electronic format, that is in his
    possession or control, and the Executive agrees not to retain any copies of such property in any format whatsoever including
    electronic format.
	 	 
	7.	Non-Competition
    and Non-Solicitation Obligations
	 	 
	7.1	Non-Competition.
    Subject to Section 7.2, the Executive covenants and agrees that, while employed with the Corporation and for a period of twenty-four
    (24) months thereafter, the Executive shall not, anywhere in North America, directly or indirectly, in any manner whatsoever,
    including either individually, or in partnership, jointly or in conjunction with any other person, or as employee, principal,
    agent, trustee, consultant, contractor, director, officer, shareholder, investor, lender or otherwise:

 

	 	(a)	carry
    on or be engaged in an undertaking that competes with the diagnostic testing of tears;
	 	 	 
	 	(b)	have
    any financial or other interest, including an interest by way of royalty or other compensation arrangements, in or in respect
    of an undertaking that competes with the diagnostic testing of tears; or
	 	 	 
	 	(c)	advise,
    manage, lend money to, or guarantee the debts or obligations of, or permit his name to be used by, an undertaking that competes
    with the diagnostic testing of tears.

 

	7.2	Public
    Companies. Notwithstanding Section 7.1, nothing in this Agreement prevents the Executive from owning the issued shares
    of a corporation or the units of any publicly traded entity, the shares or units of which are listed on a recognized stock
    exchange or traded in the over-the-counter market.
	 	 
	7.3	Non-Solicitation
    of Employees. The Executive covenants and agrees that, while employed with the Corporation and for a period of twenty-four
    (24) months thereafter, the Executive shall not induce or solicit, or attempt to induce or solicit, or assist any person to
    induce or solicit, any employee, contractor or advisor of the Corporation, or assist or encourage any employee, contractor
    or advisor of the Corporation, to accept employment or engagement elsewhere that competes with the business of the Corporation
    (or any material part thereof) as conducted at the time of the cessation of the Executive’s employment or any other
    business conducted by the Corporation during the six (6) month period prior to such date or contemplated to be carried on
    in its most recent annual business plan.
	 	 
	8.	Proprietary
    and Moral Rights
	 	 
	8.1	Proprietary
    Rights. The Executive recognizes the Corporation’s proprietary rights in the tangible and intangible property of
    the Corporation and acknowledges that Executive has not obtained or acquired and shall not obtain or acquire any rights, title
    or interest, in any of the property of the Corporation or its predecessors, successors, affiliates or related companies including,
    without limitation, any writing, communications, manuals, documents, instruments, contracts, agreements, files, literature,
    data, technical information, know-how, secrets, formulas, products, methods, procedures, processes, devices, apparatuses,
    trademarks, trade names, trade styles, service marks, logos, copyrights, patents, inventions, discoveries, whether or not
    protected by patent or copyright, which the Executive may have conceived or made, or may conceive or make, either alone or
    in conjunction with others, and related to the business of the Corporation or its predecessors, successors, affiliates or
    related companies (collectively, the “Materials”). The Executive agrees that during his employment with
    the Corporation and any time afterwards all Materials shall be the sole and exclusive property of the Corporation.

 

    			 

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	8.2	Waiver
    of Moral Rights. The Executive irrevocably waives to the greatest extent permitted by law, for the benefit of and in favour
    of the Corporation, all the Executive's moral rights whatsoever in the Materials including, without limitation, any right
    to the integrity of any Materials, any right to be associated with any Materials and any right to restrict or prevent the
    modification or use of any Materials in any way whatsoever. The Executive irrevocably transfers to the Corporation all rights
    to restrict any violations of moral rights in any of the Materials including, without limitation, any distortion, mutilation
    or other modification.
	 	 
	8.3	Assignment
    of Rights. If the Executive has acquired or does acquire, however, any right, title or interest in any of the Materials
    or in any intellectual property rights relating to the Materials, the Executive irrevocably assigns all such right, title
    and interest throughout the world exclusively to the Corporation including, without limitation, any renewals, extensions or
    reversions relating thereto and any right to bring an action or to collect compensation for past infringements.
	 	 
	8.4	Registrations.
    The Corporation will have the exclusive right to obtain copyright registrations, letters patent, industrial design registrations,
    trade-mark registrations or any other protection in respect of the Materials and the intellectual property rights relating
    to the Materials anywhere in the world. At the expense and request of the Corporation, the Executive shall, both during and
    after the Executive's employment with the Corporation, execute all documents and do all other acts necessary in order to enable
    the Corporation to protect its rights in any of the Materials and the intellectual property rights relating to the Materials.
	 	 
	9.	Consideration
    and Remedies
	 	 
	9.1	Consideration.
    The Executive acknowledges that he has and will receive good and valuable consideration including, without limitation,
    the consideration set out in this Agreement in exchange for his compliance with his obligations in Sections 6, 7 and 8, and
    that the Corporation would not have provided the Executive such consideration without the Executive’s commitment to
    such obligations.
	 	 
	9.2	Defences.
    The Executive agrees that all restrictions in Sections 6, 7 and 8 are necessary and fundamental to the protection of the
    business carried on by the Corporation and that all such restrictions are reasonable and valid, and the Executive waives all
    defences of the Executive to the strict enforcement thereof by the Corporation.
	 	 
	9.3	Injunctive
    Relief. The Executive acknowledges that a breach by the Executive of any of his obligations in Sections 6, 7 and 8 will
    result in the Corporation suffering irreparable harm, which cannot be calculated or fully or adequately compensated by recovery
    of damages alone. Accordingly, the Executive agrees that the Corporation shall be entitled to interim and permanent injunctive
    relief without proof of actual damages, specific performance and other equitable remedies, in addition to any other relief
    to which the Corporation may become entitled.

 

    			 

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	10.	Obligations
    Not Exhaustive
	 	 
	10.1	Fiduciary.
    The Executive acknowledges that the obligations contained in Sections 6, 7 and 8 are in addition to any obligations that
    the Executive may now or hereafter owe to the Corporation, at law, in equity or otherwise. Nothing contained in this Agreement
    is a waiver, release or reduction of any fiduciary obligations that the Executive owes to the Corporation.
	 	 
	11.	General
	 	 
	11.1	Survival.
    Sections 6, 7, 8 and 9 and this Section survive the termination of this Agreement and the Executive's employment for any
    reason whatsoever.
	 	 
	11.2	Severability.
    If any provision of this Agreement is declared void or unenforceable, such provision shall be deemed severed from this
    Agreement to the extent of the particular circumstances giving rise to such declaration, and such provision as it applies
    to other persons and circumstances and the remaining terms and conditions of this Agreement shall remain in full force and
    effect.
	 	 
	11.3	Entire
    Agreement. This Agreement constitutes the entire agreement between the Corporation and the Executive on the subject-matter
    herein and it supersedes all prior agreements and understandings, whether written or oral. There are no representations, warranties
    or collateral agreements on the subject-matter herein that exist outside of this Agreement.
	 	 
	11.4	Amendments.
    This Agreement may only be amended by written agreement executed by the Corporation and the Executive. However, changes
    to the Executive's position, duties, vacation, benefits and compensation, over the course of time, do not affect the validity
    or enforceability of Sections 5, 6, 7 and 8.
	 	 
	11.5	Governing
    Law. This Agreement shall be governed by, and construed and interpreted in accordance with the laws of the Province of
    Ontario and the laws of Canada applicable therein. The Corporation and the Executive each irrevocably consents to the exclusive
    jurisdiction of the courts of Ontario and the courts of Ontario shall have the sole and exclusive jurisdiction to entertain
    any action arising under this Agreement.
	 	 
	11.6	Assignment.
    The Corporation may assign this Agreement, and it enures to the benefit of the Corporation, its successors or assigns.
	 	 
	11.7	Independent
    Legal Advice. The Executive acknowledges that he has been encouraged to obtain independent legal regarding the execution
    of this Agreement, and that he has either obtained such advice or voluntarily chosen not to do so, and hereby waives any objections
    or claims he may make resulting from any failure on his part to obtain such advice.
	 	 
	11.8	Currency.
    All dollar amounts referred to in this Agreement are in lawful money of the United States, unless expressly stated otherwise.
	 	 
	11.9	Waiver.
    No waiver of any of the provisions of this Agreement shall be effective or binding, unless made in writing and signed
    by the party purporting to give the same. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
    a waiver of any other provisions, whether or not similar, nor shall such waiver constitute a continuing waiver, unless expressly
    stated otherwise.

 

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remainder of this page is intentionally left blank.]

 

*
* * * *

 

    			 

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IN
WITNESS WHEREOF this executive employment agreement has been executed by the Corporation and the Executive on the dates below.

 

	 	TEARLAB
    CORPORATION
	 	 	 
	 	By:	/s/
    Wes Brazell
	 	 	 
	 	Title: 	Chief Financial
    Officer
	 	 	 
	 	Date: 	December 31, 2015

 

	 	/s/
    Elias Vamvakas
	 	Elias
    Vamvakas
	 	 
	 	December
    31, 2015
	 	DateEX-10.1

 Exhibit 10.1 

NOTE PURCHASE AGREEMENT 

THIS NOTE PURCHASE AGREEMENT (this “Agreement”),
dated as of March 14, 2016, is entered into by and between NOTIS GLOBAL, INC., a Nevada corporation (“Company”), and CHICAGO VENTURE PARTNERS,
L.P., a Utah limited partnership, its successors and/or assigns (“Investor”). 
 A. Company and Investor
are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by the rules and regulations promulgated by the United States Securities and Exchange Commission (the “SEC”) under the
Securities Act of 1933, as amended (the “1933 Act”). 
 B. Investor desires to purchase and Company desires
to issue and sell, upon the terms and conditions set forth in this Agreement, (i) a Promissory Note, in the form attached hereto as Exhibit A, in the original principal amount of $140,000.00 (“Note #1”), and, upon
satisfaction of certain conditions set forth herein, (ii) a second Promissory Note, in substantially the form attached hereto as Exhibit B, in the original principal amount of $137,500.00 (“Note #2,” and together with Note
#1, the “Notes”). 
 C. This Agreement, the Notes, and all other certificates, documents, agreements,
resolutions and instruments delivered to any party under or in connection with this Agreement, as the same may be amended from time to time, are collectively referred to herein as the “Transaction Documents”. 

NOW, THEREFORE, in consideration of the above recitals and other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, Company and Investor hereby agree as follows: 
 1. Purchase and Sale
of Notes. 
 1.1. Purchase of Notes. 

(a) On the Note #1 Closing Date (as defined below), Company shall issue and sell to Investor and Investor agrees to purchase
from Company, Note #1. In consideration of Note #1, Investor shall pay the Note #1 Purchase Price (as defined below) to Company. 

(b) Upon satisfaction of the Mandatory Note #2 Payment Conditions (as defined below), on the Note #2 Closing Date (as defined
below), Company shall issue and sell to Investor and Investor agrees to purchase from Company Note #2. In consideration of Note #2, Investor shall pay the Note #2 Purchase Price (as defined below) to Company. For purposes hereof, the term
“Mandatory Note #2 Payment Conditions” means that each of the following conditions has been satisfied on or before the date that is ninety (90) days from the Note #1 Closing Date (as defined below): (i) the Share Reserve (as defined
in Note #1) for Note #1 shall have been established; (ii) no Event of Default (as defined in Note #1) shall have occurred under Note #1 during the period beginning on the Note #1 Closing Date and ending on the date the Share Reserve for Note #1 is
established (the “Share Reserve Date”); (iii) the median daily dollar volume of the Common Stock on its principal market for the nineteen (19) Trading Days (as defined in Note #1) immediately preceding the Share Reserve Date is
greater than $75,000.00 per Trading Day; and (iv) Borrower has notified Investor in writing that it has elected to require that Investor pay the Note #2 Purchase Price. For the avoidance of doubt, if the Mandatory Note #2 Payment Conditions have not
been satisfied as of the date that is ninety (90) days from the Note #1 Closing Date, then Investor shall not be obligated to pay the Note #2 Purchase Price and Note #2 shall not be considered a valid, binding, or enforceable obligation of Company,
and, thereafter, the Note #2 shall only be issued and the Note #2 Purchase Price will only be payable upon the mutual written agreement of Company and Investor. 

  
 1 

 1.2. Form of Payment. On the Note #1 Closing Date, Investor shall pay the
Note #1 Purchase Price to Company via wire transfer of immediately available funds against delivery of Note #1. On the Note #2 Closing date (if applicable, based on the requirements set forth in Section 1.1(b)), Investor shall pay the Note #2
Purchase Price to Company via wire transfer of immediately available funds. 
 1.3. Closings. 

(a) Subject to the satisfaction (or written waiver) of the conditions set forth in Section 3 and Section 4 below, the date of
the issuance and sale of Note #1 pursuant to this Agreement (the “Note #1 Closing Date”) shall be March 14, 2016, or such other mutually agreed upon date. The closing of the transactions contemplated by this Agreement with respect
to Note #1 (the “Note #1 Closing”) shall occur on the Note #1 Closing Date by means of the exchange by email of .pdf documents, but shall be deemed to have occurred at the offices of Hansen Black Anderson Ashcraft PLLC in Lehi,
Utah. 
 (b) Subject to the satisfaction (or written waiver) of the conditions set forth in Section 3 and Section 4 below
and the timely satisfaction of each of the Mandatory Note #2 Payment Conditions, the date of the issuance and sale of Note #2 pursuant to this Agreement (the “Note #2 Closing Date”, and together with the Note #1 Closing Date, the
“Closing Dates”) shall be the date the Mandatory Note #2 Payment Conditions are satisfied, or such other mutually agreed upon date. The closing of the transactions contemplated by this Agreement with respect to Note #2 (the
“Note #2 Closing”, and together with the Note #1 Closing, the “Closings”) shall occur on the Note #2 Closing Date by means of the exchange by email of .pdf documents, but shall be deemed to have occurred at the
offices of Hansen Black Anderson Ashcraft PLLC in Lehi, Utah. 
 1.4. Collateral for the Notes. The Notes shall not
be secured. 
 1.5. Original Issue Discount; Transaction Expense Amount. 

(a) Note #1 carries an original issue discount of $12,500.00 (the “Note #1 OID”). In addition,
Company agrees to pay $5,000.00 to Investor to cover Investor’s legal fees, accounting costs, due diligence, monitoring and other transaction costs incurred in connection with the purchase and sale of the Notes, $2,500.00 of which amount has
previously been paid to Investor and $2,500.00 of which amount (the “Carried Transaction Expense Amount”) is included in the initial principal balance of Note #1. The “Note #1 Purchase Price”, therefore,
shall be $125,000.00, computed as follows: $140,000.00 initial principal balance, less the Note #1 OID, less the Carried Transaction Expense Amount. 

(b) Note #2 also carries an original issue discount of $12,500.00 (the “Note #2 OID”). The “Note
#2 Purchase Price”, therefore, shall be $125,000.00, computed as follows: $137,500.00 initial principal balance, less the Note #2 OID. 

2. Investor’s Representations and Warranties. Investor hereby represents and warrants to the Company
that the following are true and correct as of the date hereof, and as of each Closing Date: 
 2.1. Organization and
Authorization. The Investor is duly organized, validly existing and in good standing under the laws of the State of Utah and has all requisite power and authority to purchase and hold the Notes. The decision to invest and the execution
and delivery of this Agreement by such Investor, the performance by such Investor of its obligations hereunder and the consummation by such Investor of the transactions contemplated hereby have been duly authorized and requires no other proceedings
on the part of the Investor. The undersigned has the right, power and authority to execute and deliver this Agreement and all other instruments on behalf of the Investor. This Agreement has been duly executed and delivered by the Investor
and, assuming the execution and delivery hereof and 

  
 2 

 
acceptance thereof by the Company, will constitute the legal, valid and binding obligations of the Investor, enforceable against the Investor in accordance with its terms. 

2.2. Evaluation of Risks. The Investor has such knowledge and experience in financial, tax and business matters
as to be capable of evaluating the merits and risks of, and bearing the economic risks entailed by, an investment in the Company and of protecting its interests in connection with this transaction. It recognizes that its investment in the
Company involves a high degree of risk. 
 2.3. Investment Purpose. The Notes are and will be purchased by the
Investor for its own account, and for investment purposes. The Investor agrees not to assign or in any way transfer the Investor’s rights to the Note or any interest therein except in accordance with applicable Federal and state securities laws
and acknowledges that the Company will not recognize any purported assignment or transfer of the Note except in accordance with applicable Federal and state securities laws. No other person has or will have a direct or indirect beneficial interest
in the Note. The Investor agrees not to sell, hypothecate or otherwise transfer the Note unless the Note is registered under Federal and applicable state securities laws or unless, in the opinion of counsel satisfactory to the Company, an exemption
from such laws is available. 
 2.4. Accredited Investor. The Investor is an “Accredited Investor”
as that term is defined in Rule 501(a)(3) of Regulation D of the Securities Act of 1933 (the “Securities Act”). 

2.5. Information. The Investor and its advisors (and its counsel), if any, have been furnished with all materials
relating to the business, finances and operations of the Company and information it deemed material to making an informed investment decision. The Investor and its advisors, if any, have been afforded the opportunity to ask questions of the
Company and its management. The Investor understands that its investment involves a high degree of risk. The Investor has sought such accounting, legal and tax advice, as it has considered necessary to make an informed investment decision
with respect to this transaction. 
 2.6. No General Solicitation. Neither the Company, nor any of its
affiliates, nor any person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection with the offer or sale of the Note offered
hereby. 
 2.7. Not an Affiliate. The Investor is not an officer, director or a person that directly, or indirectly
through one or more intermediaries, controls or is controlled by, or is under common control with the Company or any “Affiliate” of the Company (as that term is defined in Rule 405 of the Securities Act). 

3. Conditions to Company’s Obligation to Sell. The obligation of Company hereunder to issue and sell the Notes to
Investor at the Closings is subject to the satisfaction, on or before the applicable Closing Date, of each of the following conditions: 

3.1. Investor shall have executed this Agreement and delivered the same to Company. 

3.2. With respect to the Note #1 Closing, Investor shall have delivered the Note #1 Purchase Price to Company in accordance
with Section 1.2 above. 
 3.3. With respect to the Note #2 Closing, if any, Investor shall have delivered the Note #2
Purchase Price to Company in accordance with Section 1.2 above. 
 4. Conditions to Investor’s
Obligation to Purchase. The obligation of Investor hereunder to purchase the Notes at the Closings is subject to the satisfaction, on or before the applicable Closing Date, 

  
 3 

 
of each of the following conditions, provided that these conditions are for Investor’s sole benefit and may be waived by Investor at any time in its sole discretion: 

4.1. With respect to the Note #1 Closing, the Company shall have executed this Agreement and delivered the same to Investor.

 4.2. With respect to each Closing, the Company shall have executed and delivered the applicable Note to Investor. 

4.3. With respect to the Note #1 Closing, Company shall have delivered to Investor a fully Executed Letter of Instructions to
Transfer Agent (“TA Letter #1”) substantially in the form attached hereto as Exhibit C acknowledged and agreed to in writing by Company’s transfer agent (the “Transfer Agent”). 

4.4. With respect to the Note #2 Closing, if any, Company shall have delivered to Investor a fully executed Irrevocable
Letter of Instructions to Transfer Agent (“TA Letter 2”) substantially in the form attached hereto as Exhibit D acknowledged and agreed to in writing by the Transfer Agent. 

4.5. With respect to each Closing, the Company shall have delivered to Investor a fully executed Secretary’s Certificate
substantially in the form attached hereto as Exhibits E and F, respectively, evidencing Company’s approval of the Transaction Documents. 

4.6. With respect to each Closing, the Company shall have delivered to Investor a fully executed Share Issuance Resolution
substantially in the form attached hereto as Exhibits G and H, respectively, to be delivered to the Transfer Agent. 

4.7. With respect to each Closing, Company shall have delivered to Investor fully executed copies of all other Transaction
Documents required to be executed by Company herein or therein. 
 5. Miscellaneous. The provisions set forth in this
Section 5 shall apply to this Agreement, as well as all other Transaction Documents as if these terms were fully set forth therein; provided, however, that in the event there is a conflict between any provision set forth in this Section 5 and any
provision in any other Transaction Document, the provision in such other Transaction Document shall govern. 
 5.1.
Certain Capitalized Terms. To the extent any capitalized term used in any Transaction Document is defined in any other Transaction Document (as noted therein), such capitalized term shall remain applicable in the Transaction Document in which
it is so used even if the other Transaction Document (wherein such term is defined) has been released, satisfied, or is otherwise cancelled. 

5.2. Arbitration of Claims. The parties shall submit all Claims (as defined in Exhibit I) arising under this
Agreement or any other Transaction Document or any other agreement between the parties and their affiliates to binding arbitration pursuant to the arbitration provisions set forth in Exhibit I attached hereto (the “Arbitration
Provisions”). The parties hereby acknowledge and agree that the Arbitration Provisions are unconditionally binding on the parties hereto and are severable from all other provisions of this Agreement. By executing this Agreement, Company
represents, warrants and covenants that Company has reviewed the Arbitration Provisions carefully, consulted with legal counsel about such provisions (or waived its right to do so), understands that the Arbitration Provisions are intended to allow
for the expeditious and efficient resolution of any dispute hereunder, agrees to the terms and limitations set forth in the Arbitration Provisions, and that Company will not take a position contrary to the foregoing

  
 4 

 
representations. Company acknowledges and agrees that Investor may rely upon the foregoing representations and covenants of Company regarding the Arbitration Provisions. 

5.3. Governing Law; Venue. This Agreement shall be construed and enforced in accordance with, and all questions
concerning the construction, validity, interpretation and performance of this Agreement shall be governed by, the internal laws of the State of Utah, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of Utah or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Utah. Each party consents to and expressly agrees that exclusive venue for arbitration of any dispute arising out of or
relating to any Transaction Document or the relationship of the parties or their affiliates shall be in Salt Lake County or Utah County, Utah. Without modifying the parties obligations to resolve disputes hereunder pursuant to the Arbitration
Provisions, for any litigation arising in connection with any of the Transaction Documents (and notwithstanding the terms (specifically including any governing law and venue terms) of any transfer agent services agreement or other agreement between
the Transfer Agent and Company, such litigation specifically includes, without limitation any action between or involving Company and the Transfer Agent under TA Letter #1 and/or TA Letter #2 or otherwise related to Investor in any way (specifically
including, without limitation, any action where Company seeks to obtain an injunction, temporary restraining order, or otherwise prohibit the Transfer Agent from issuing shares of Common Stock to Investor for any reason)), each party hereto hereby
(i) consents to and expressly submits to the exclusive personal jurisdiction of any state or federal court sitting in Salt Lake County, Utah, (ii) expressly submits to the exclusive venue of any such court for the purposes hereof, (iii) agrees to
not bring any such action (specifically including, without limitation, any action where Company seeks to obtain an injunction, temporary restraining order, or otherwise prohibit the Transfer Agent from issuing shares of Common Stock to Investor for
any reason) outside of any state or federal court sitting in Salt Lake County, Utah, and (iv) waives 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 jurisdiction or to any claim that such venue of the suit, action or proceeding is improper. Finally, Company covenants and agrees to name Investor as a party in interest in, and provide written notice to Investor in
accordance with Section 5.12 below prior to bringing or filing, any action (including without limitation any filing or action against any person or entity that is not a party to this Agreement, including without limitation the Transfer Agent) that
is related in any way to the Transaction Documents or any transaction contemplated herein or therein, including without limitation any action brought by Company to enjoin or prevent the issuance of any shares of Common Stock to Investor by the
Transfer Agent, and further agrees to name Investor as a party to any such action. Company acknowledges that the governing law and venue provisions set forth in this Section 5.3 are material terms to induce Investor to enter into the Transaction
Documents and that but for Company’s agreements set forth in this Section 5.3 Investor would not have entered into the Transaction Documents. 

5.4. Specific Performance. Company acknowledges and agrees that irreparable damage would occur to Investor in the
event that Company fails to perform any provision of this Agreement or any of the other Transaction Documents in accordance with its specific terms. It is accordingly agreed that Investor shall be entitled to an injunction or injunctions to prevent
or cure breaches of the provisions of this Agreement or such other Transaction Document and to enforce specifically the terms and provisions hereof or thereof, this being in addition to any other remedy to which any Investor may be entitled under
the Transaction Documents, at law or in equity. For the avoidance of doubt, in the event Investor seeks to obtain an injunction against Company or specific performance of any provision of any Transaction Document, such action shall not be a waiver
of any right of Investor under any Transaction Document, at law, or in equity, including without limitation its rights to arbitrate any Claim pursuant to the terms of the Transaction Documents. 

5.5. Calculation Disputes. Notwithstanding the Arbitration Provisions, in the case of a dispute as to any
determination or arithmetic calculation under the Transaction Documents, including without limitation, calculating the Outstanding Balance (as defined in the Notes), Conversion Price (as 

  
 5 

 
defined in the Notes), Conversion Shares (as defined in the Notes), or VWAP (as defined in the Notes) (each, a “Calculation”), Company or Investor (as the case may be) shall
submit any disputed Calculation via email or facsimile with confirmation of receipt (i) within two (2) Trading Days after receipt of the applicable notice giving rise to such dispute to Company or Investor (as the case may be) or (ii) if no notice
gave rise to such dispute, at any time after Company or Investor (as the case may be) learned of the circumstances giving rise to such dispute. If Investor and Company are unable to agree upon such Calculation within two (2) Trading Days of such
disputed Calculation being submitted to Company or Investor (as the case may be), then Investor shall, within two (2) Trading Days, submit via email or facsimile the disputed Calculation to Unkar Systems Inc. (“Unkar Systems”).
Company shall cause Unkar Systems to perform the Calculation and notify Company and Investor of the results no later than ten (10) Trading Days from the time it receives such disputed Calculation. Unkar Systems’ determination of the disputed
Calculation shall be binding upon all parties absent demonstrable error. Unkar Systems’ fee for performing such Calculation shall be paid by the incorrect party, or if both parties are incorrect, by the party whose Calculation is furthest from
the correct Calculation as determined by Unkar Systems. In the event Company is the losing party, no extension of the Delivery Date (as defined in the Notes) shall be granted and Company shall incur all effects for failing to deliver the applicable
shares in a timely manner as set forth in the Transaction Documents. Notwithstanding the foregoing, Investor may, in its sole discretion, designate an independent, reputable investment bank or accounting firm other than Unkar Systems to resolve any
such dispute and in such event, all references to “Unkar Systems” herein will be replaced with references to such independent, reputable investment bank or accounting firm so designated by Investor. 

5.6. Counterparts. Each Transaction Document may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one instrument. The parties hereto confirm that any electronic copy of another party’s executed counterpart of a Transaction Document (or such party’s signature page thereof)
will be deemed to be an executed original thereof. 
 5.7. Headings. The headings of this Agreement are for
convenience of reference only and shall not form part of, or affect the interpretation of, this Agreement. 
 5.8.
Severability. In the event that any provision of this Agreement 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 to such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision hereof. 

5.9. Entire Agreement. This Agreement, together with the other Transaction Documents, contains 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 Company nor Investor makes any representation, warranty, covenant or undertaking with respect to
such matters. For the avoidance of doubt, all prior term sheets or other documents between Company and Investor, or any affiliate thereof, related to the transactions contemplated by the Transaction Documents (collectively, “Prior
Documents”), that may have been entered into between Company and Investor, or any affiliate thereof, are hereby null and void and deemed to be replaced in their entirety by the Transaction Documents. To the extent there is a conflict
between any term set forth in any Prior Document and the term(s) of the Transaction Documents, the Transaction Documents shall govern. 

5.10. No Reliance. Company acknowledges and agrees that neither Investor nor any of its officers, directors, members,
managers, representatives or agents has made any representations or warranties to Company or any of its officers, directors, representatives, agents or employees except as expressly set forth in the Transaction Documents and, in making its decision
to enter into the transactions contemplated by the Transaction Documents, Company is not relying on any representation, warranty, 

  
 6 

 
covenant or promise of Investor or its officers, directors, members, managers, agents or representatives other than as set forth in the Transaction Documents. 

5.11. Amendments. The prior written consent of both parties hereto shall be required for any change or amendment to
this Agreement. 
 5.12. Notices. Any notice required or permitted hereunder shall be given in writing (unless
otherwise specified herein) and shall be deemed effectively given on the earliest of: (i) the date delivered, if delivered by personal delivery as against written receipt therefor or by email to an executive officer, or by facsimile (with successful
transmission confirmation), (ii) the earlier of the date delivered or the third Trading Day after deposit, postage prepaid, in the United States Postal Service by certified mail, or (iii) the earlier of the date delivered or the third Trading Day
after mailing by express courier, with delivery costs and fees prepaid, in each case, addressed to each of the other parties thereunto entitled at the following addresses (or at such other addresses as such party may designate by five (5) calendar
days’ advance written notice similarly given to each of the other parties hereto): 
 If to Company: 

Notis Global, Inc. 

Attn: Jeffrey Goh 

600 Wilshire Blvd., Suite 1500 

Los Angeles, California 90017 

If to Investor: 

5.13. Successors and Assigns. This Agreement or any of the severable rights and obligations inuring to the benefit of
or to be performed by Investor hereunder may be assigned by Investor to a third party, including its financing sources, in whole or in part, without the need to obtain Company’s consent thereto. Company may not assign its rights or obligations
under this Agreement or delegate its duties hereunder without the prior written consent of Investor. 
 5.14.
Survival. The representations and warranties of each party hereto and the agreements and covenants set forth in this Agreement shall survive the Closing hereunder. Each party agrees to indemnify and hold harmless the other and all its
officers, directors, employees, attorneys, and 

  
 7 

 
agents for loss or damage arising as a result of or related to any breach or alleged breach by the other party 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. 

5.15. 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. 
 5.16. Investor’s Rights and Remedies Cumulative;
Liquidated Damages. All rights, remedies, and powers conferred in this Agreement and the Transaction Documents are cumulative and not exclusive of any other rights or remedies, and shall be in addition to every other right, power, and remedy
that Investor may have, whether specifically granted in this Agreement or any other Transaction Document, or existing at law, in equity, or by statute, and any and all such rights and remedies may be exercised from time to time and as often and in
such order as Investor may deem expedient. The parties acknowledge and agree that upon Company’s failure to comply with the provisions of the Transaction Documents, Investor’s damages would be uncertain and difficult (if not impossible) to
accurately estimate because of the parties’ inability to predict future interest rates and future share prices, Investor’s increased risk, and the uncertainty of the availability of a suitable substitute investment opportunity for
Investor, among other reasons. Accordingly, any fees, charges, and default interest due under the Notes and the other Transaction Documents are intended by the parties to be, and shall be deemed, liquidated damages (under Company’s and
Investor’s expectations that any such liquidated damages will tack back to the Closing Date for purposes of determining the holding period under Rule 144 (as defined in the Notes) under the 1933 Act). The parties agree that such liquidated
damages are a reasonable estimate of Investor’s actual damages and not a penalty, and shall not be deemed in any way to limit any other right or remedy Investor may have hereunder, at law or in equity. The parties acknowledge and agree that
under the circumstances existing at the time this Agreement is entered into, such liquidated damages are fair and reasonable and are not penalties. All fees, charges, and default interest provided for in the Transaction Documents are agreed to by
the parties to be based upon the obligations and the risks assumed by the parties as of the Closing Date and are consistent with investments of this type. The liquidated damages provisions of the Transaction Documents shall not limit or preclude a
party from pursuing any other remedy available at law or in equity; provided, however, that the liquidated damages provided for in the Transaction Documents are intended to be in lieu of actual damages. 

5.17. Waiver. No waiver of any provision of this Agreement shall be effective unless it is in the form of a writing
signed by the party granting the waiver. No waiver of any provision or consent to any prohibited action shall constitute a waiver of any other provision or consent to any other prohibited action, whether or not similar. No waiver or consent shall
constitute a continuing waiver or consent or commit a party to provide a waiver or consent in the future except to the extent specifically set forth in writing. 

5.18. Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS SUCH PARTY MAY HAVE TO
DEMAND THAT ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT, OR THE RELATIONSHIPS OF THE PARTIES HERETO BE TRIED BY JURY. THIS WAIVER EXTENDS TO ANY AND ALL RIGHTS TO
DEMAND A TRIAL BY JURY ARISING UNDER COMMON LAW OR ANY APPLICABLE STATUTE, LAW, RULE OR REGULATION. FURTHER, EACH PARTY HERETO ACKNOWLEDGES THAT SUCH PARTY IS KNOWINGLY AND VOLUNTARILY WAIVING SUCH PARTY’S RIGHT TO DEMAND TRIAL BY JURY. 

  
 8 

 5.19. Time is of the Essence. Time is expressly made of the essence with
respect to each and every provision of this Agreement and the other Transaction Documents. 
 5.20. Voluntary
Agreement. Each party has carefully read this Agreement and each of the other Transaction Documents and has asked any questions needed to understand the terms, consequences and binding effect of this Agreement and each of the other Transaction
Documents and fully understand them. Each party has had the opportunity to seek the advice of an attorney of such party’s choosing, or has waived the right to do so, and is executing this Agreement and each of the other Transaction Documents
voluntarily and without any duress or undue influence by Investor or anyone else. 
 [Remainder of page intentionally left blank;
signature page follows] 

  
 9 

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

					
	SUBSCRIPTION AMOUNTS:	  	 	 
		
	 Principal Amount of Note #1:
	  	$	140,000.00	  
		
	 Note #1 Purchase Price:
	  	$	125,000.00	  
		
	 Principal Amount of Note #2:
	  	$	137,500.00	  
		
	 Note #2 Purchase Price:
	  	$	125,000.00	  

  

							
	 INVESTOR:

	
	CHICAGO VENTURE PARTNERS, L.P.
		
	 By:
	 	 Chicago Venture Management, L.L.C.,

		 	 its General Partner

			
		 	 By:
	 	 CVM, Inc., its Manager

				
		 		 	 By:
	 	 /s/ John M. Fife

		 		 		 	 John M. Fife, President

 
							
	
	 COMPANY:

	
	NOTIS GLOBAL, INC.
		
	 By:
	 	 /s/ C. Douglas
Mitchell

 
							
	 Printed Name:
	 	 C. Douglas
Mitchell

 
							
	 Title:
	 	 Chief Financial Officer

 [Signature Page to Securities Purchase Agreement]

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