Document:

Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT (the “Agreement”)
is made and entered into as of this 19 day of August, 2018 (the “Effective Date”), by and between Luokung Technology
Corp., a British Virgin Islands corporation (the “Company”) and Jie (Jay) Yu (the “Executive”),
a Chinese citizen.

 

WITNESSETH:

 

WHEREAS, the
parties desire to enter into this Agreement setting forth the terms and conditions of the employment relationship between the Executive
and the Company.

 

NOW, THEREFORE,
in consideration of the foregoing premises and the mutual covenants and agreements contained herein, the parties hereto agree as
follows:

 

1. EMPLOYMENT.

 

1.1 Agreement to
Employ. The Company hereby agrees to employ Executive, and Executive hereby agrees to serve, subject to the provisions of this
Agreement, as an officer and employee of the Company.

 

1.2 Duties and Schedule.
Executive shall serve as the Company’s Chief Financial Officer, and be the Principal Financial Officer and Principal Accounting
Officer of the Company and responsible for all financial matters and management of the Company. The Executive shall report directly
to the Company’s Chief Executive Officer and Board of Directors (the “Board”) and shall have such responsibilities
as designated by the Chief Executive Officer or Board to the extent that such responsibilities are not inconsistent with all applicable
laws, regulations and rules. Executive shall devote his best efforts and all of his business time to his position with the Company
during the Term.

 

2. TERM OF EMPLOYMENT.
Unless Executive’s employment shall sooner terminate pursuant to Section 4, the Company shall employ Executive for a four-year
term commencing on the Effective Date (the “Term”), which Term shall be renewable upon mutual agreement of the
Company and the Executive, as approved by the Board.

 

3. COMPENSATION.

 

3.1  Salary.
Executive’s salary during the Term shall be RMB700,000 per year (the “Salary”), payable monthly.

 

3.2 Bonus.
At the sole discretion of the Board, or any committee duly designated by the Board and authorized to act thereto, the Executive
shall be eligible for an annual cash bonus.

 

3.3 Vacation.
Executive shall be entitled to 8 days of paid vacation per year. In the event that Executive remains employed by the Company for
3 years or more, Executive shall be entitled to 12 days of paid vacation.

 

3.4 Business Expenses.
Executive shall be reimbursed by the Company for all ordinary and necessary expenses incurred by Executive; provided that they
are incurred and approved in writing in accordance with the Company’s expense policy.

 

3.5 Benefits.
During the Term, Executive shall be allowed to participate, on the same basis generally as other employees of the Company, in all
general employee benefit plans and programs, including improvements or modifications of the same, which may exist as of the Effective
Date or thereafter and which are made available by the Company to all or substantially all of its employees. Such benefits, plans,
and programs may include, without limitation, any health, and dental insurance or 401K programs, if and when instituted. Any benefit
plan currently existing or instituted by the Company after the Effective Date may be altered, change or discontinued by the Company
at its sole discretion and at any time without obligation of any nature to Executive. Except as specifically provided herein, nothing
in this Agreement is to be construed or interpreted to increase or alter in any way the rights, participation, coverage, or benefits
under such benefit plans or programs to other than those provided to other employees pursuant to the terms and conditions of such
benefit plans and programs.  

 

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4. TERMINATION.

 

4.1 Death.
This Agreement shall terminate immediately upon the death of Executive, and Executive’s estate or Executive’s legal
representative, as the case may be, shall be entitled to Executive’s accrued and unpaid Salary as of the date of Executive’s
death, plus all other compensation and benefits that were vested through the date of Executive’s death.

 

4.2 Disability.
In the event of Executive’s Disability, this Agreement shall terminate and Executive shall be entitled to (a) accrued and
unpaid Salary and vacation through the first date that a Disability is determined; and (b) all other compensation and benefits
that were vested through the first date that a Disability has been determined. “Disability” means the
good faith determination of the Board that Executive has become so physically or mentally incapacitated or disabled as to be unable
to satisfactorily perform his duties hereunder for a period of ninety (90) consecutive calendar days or for one- hundred twenty
(120) days in any three-hundred sixty (360) day period, such determination based upon a certificate as to such physical or mental
disability issued by a licensed physician and/or psychiatrist (as the case may be) mutually agreed upon by Executive and the Company.

 

4.3 Termination by Company for Cause.  The
Company may terminate the Executive for Cause and such termination shall take effect upon the receipt by Executive of the Notice
of Termination. Upon the effective date of the termination for Cause, Executive shall be solely entitled to accrued and unpaid
Salary through such effective date. “Cause” means: (i) engaging in any act, omission or misconduct that
is injurious to the Company or an affiliate; (ii) gross negligence or willful misconduct in connection with the performance of
duties; (iii) conviction of a criminal offense (other than minor traffic offenses); (iv) fraud, embezzlement or misappropriation
of funds or property of the Company or an affiliate; (v) material breach of any term of any employment or other services, confidentiality,
intellectual property or non-competition agreements, if any, between the Executive and the Company or an affiliate; (vi) the entry
of an order duly issued by any regulatory agency (including federal, state and local regulatory agencies and self-regulatory bodies)
having jurisdiction over the Company or an affiliate requiring the removal of the Executive from any office held with the Company
or prohibiting the Executive from participating in the business or affairs of the Company or any affiliate; or (vii) the revocation
or threatened revocation of any of the Company’s or an affiliate’s government licenses, permits or approvals, which
is primarily due to the Executive’s action or inaction and such revocation or threatened revocation would be alleviated or
mitigated in any material respect by the termination of the Executive’s employment or services with the Company or an affiliate.

 

 4.4 Voluntary
Termination by Executive. The Executive may voluntarily terminate his employment for any reason and such termination shall
take effect 30 days after the receipt by Company of the Notice of Termination. Upon the effective date of such termination, Executive
shall be entitled to (a) accrued and unpaid Salary and vacation through such termination date; and (b) all other compensation and
benefits that were vested through such termination date.  In the event Executive is terminated without notice, it shall
be deemed a termination by the Company for Cause.

 

4.5 Notice
of Termination. Any termination of the employment by the Company or the Executive shall be communicated by a notice in accordance
with Section 8.4 of this Agreement (the “Notice of Termination”).   Such notice shall (a) indicate
the specific termination provision in this Agreement relied upon and (b) if the termination is for Cause, the date on which the
Executive’s employment is to be terminated.

 

4.6 Severance.
The Executive shall not be entitled to severance payments upon any termination provided in Section 4 herein.

 

5. EMPLOYEE’S
REPRESENTATION. The Executive represents and warrants to the Company that: (a) he is subject to no contractual, fiduciary or
other obligation which may affect the performance of his duties under this Agreement; (b) he has terminated, in accordance with
their terms, any contractual obligation which may affect his performance under this Agreement; and (c) his employment with the
Company will not require him to use or disclose proprietary or confidential information of any other person or entity.

 

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6. CONFIDENTIAL
INFORMATION Except as permitted or directed by the Board of Directors of the Company in writing, during the time the Executive
is employed by the Company or at any time thereafter, the Executive shall not use for his personal purposes nor divulge, furnish,
or make accessible to anyone or use in any way (other than in the ordinary course of the business of the Company) any confidential
or secret information or knowledge of the Company, whether developed by himself or by others. Such confidential and/or secret information
encompassed by this Section 6 includes, but is not limited to, the Company’s customer and supplier lists, business plans,
software, systems, and financial, marketing, and personnel information. The Executive agrees to refrain from any acts or omissions
that would reduce the value of any confidential or secret knowledge or information to the Company, both during his employment hereunder
and at any time after the termination of his employment. The Executive’s obligations of confidentiality under this Section 6
shall not apply to any knowledge or information that is now published publicly or that subsequently becomes generally publicly
known, other than as a direct or indirect result of a breach of this Agreement by the Executive.

 

7. NON-COMPETITION:
NON-SOLICITATION; INVENTIONS.

 

7.1 Non-Competition.
 During the employment of the Executive under this Agreement and for a period of six (6) months after termination of
such employment, the Executive shall not at any time compete on his own behalf, or on behalf of any other person or entity,
with the Company or any of its affiliates within all territories in which the Company does business with respect to the business
of the Company or any of its affiliates as such business shall be conducted on the date hereof or during the employment of the
Executive under this Agreement. The ownership by the Executive of not more than 5% of a corporation, partnership or other enterprise
shall not constitute a violation hereof.

 

7.2 Non-Solicitation.  During
the employment of the Executive under this Agreement and thereafter Executive shall not at any time (i) solicit or induce,
on his own behalf or on behalf of any other person or entity, any employee of the Company or any of its affiliates to leave the
employ of the Company or any of its affiliates; or (ii) solicit or induce, on his own behalf or on behalf of any other person
or entity, any customer or Prospective Customer of the Company or any of their respective affiliates to reduce its business with
the Company or any of its affiliates. For the purposes of this Agreement, “Prospective Customer” shall mean
any individual, corporation, trust or other business entity which has either (a) entered into a nondisclosure agreement with the
Company or any Company subsidiary or affiliate or (b) has within the preceding 12 months received a currently pending and not rejected
written proposal in reasonable detail from the Company or any of the Company’s subsidiary or affiliate.

 

7.3 Inventions and
Patents. The Company shall be entitled to the sole benefit and exclusive ownership of any inventions or improvements in products,
processes, or other things that may be made or discovered by Executive while he is in the service of the Company, and all patents
for the same. During the Term, Executive shall do all acts necessary or required by the Company to give effect to this section
and, following the Term, Executive shall do all acts reasonably necessary or required by the Company to give effect to this section.  In
all cases, the Company shall pay all costs and fees associated with such acts by Executive.

 

7.4 Return of Property.  The
Executive agrees that all property in the Executive’s possession that he obtains or is assigned in the course of his employment
with the Company, including, without limitation, all documents, reports, manuals, memoranda, customer lists, credit cards, keys,
access cards, and all other property relating in any way to the business of the Company, is the exclusive property of the Company,
even if the Executive authored, created, or assisted in authoring or creating such property. The Executive shall return to the
Company all such property immediately upon termination of employment or at such earlier time as the Company may request.

 

7.5 Court
Ordered Revisions. If any portion of this Section 7 is found by a court of competent jurisdiction to be invalid
or unenforceable, but would be valid and enforceable if modified, this Section 7 shall apply with such modifications necessary
to make this Section 7 valid and enforceable.  Any portion of this Section 7 not required to be so modified shall
remain in full force and effect and not be affected thereby.

 

7.6 Specific Performance.
The Executive acknowledges that the remedy at law for any breach of any of the provisions of Section 7 will be inadequate, and
that the Company shall be entitled, in addition to any remedy at law or in equity, to preliminary and permanent injunctive relief
and specific performance.

 

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8. MISCELLANEOUS.

 

8.1 Indemnification.  The
Company and each of its subsidiaries shall, to the maximum extent provided under applicable law, indemnify and hold Executive harmless
from and against any expenses, including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible
amounts (“Losses”), incurred in connection with any proceeding arising out of, or related to, Executive’s
employment by the Company, other than any such Losses incurred as a result of Executive’s negligence or willful misconduct.  The
Company shall, or shall cause a subsidiary thereof to, advance to Executive any expenses, including attorney’s fees and costs
of settlement, incurred in defending any such proceeding to the maximum extent permitted by applicable law.  Such costs
and expenses incurred by Executive in defense of any such proceeding shall be paid by the Company or applicable subsidiary in advance
of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate
documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (c)
an undertaking adequate under applicable law made by or on behalf of Executive to repay the amounts so advanced if it shall ultimately
be determined pursuant to any non-appealable judgment or settlement that Executive is not entitled to be indemnified by the Company
or any subsidiary thereof.  The Company will provide Executive with coverage under all directors and officers liability
insurance policies that it has in effect during the Term, with no deductible to Executive.

 

 8.2 Applicable
Law. Except as may be otherwise provided herein, this Agreement shall be governed by and construed in accordance with the laws
of China, applied without reference to principles of conflict of laws. Any dispute arising from or in connection with this Agreement
shall be submitted to Shanghai International Arbitration Center (the “Center”) for arbitration under the then effective
rules of the Center. The arbitration award shall be the sole, binding, exclusive and final remedy for resolving any dispute between
the parties.

 

8.3 Amendments.
This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective
successors or legal representatives.

 

8.4 Notices.  All
notices and other communications hereunder shall be in writing and shall be given by hand-delivery to the other party, by an international
mail courier, or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

If to the Executive:

 

Jie Yu

____________________

____________________

  

If to the Company:

___________________

___________________

 

Or to such other address as either party
shall have furnished to the other in writing in accordance herewith.  Notices and communications shall be effective when
delivered to the addressee.

 

8.5 Withholding.
The Company may withhold from any amounts payable under the Agreement, such federal, state and local income, unemployment, social
security and similar employment related taxes and similar employment related withholdings as shall be required to be withheld pursuant
to any applicable law or regulation.

 

8.6 Severability.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement and any such provision which is not valid or enforceable in whole shall be enforced to the maximum
extent permitted by law.

 

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8.7 Captions.
The captions of this Agreement are not part of the provisions and shall have no force or effect.

 

8.8 Entire Agreement.
This Agreement contains the entire agreement among the parties concerning the subject matter hereof and supersedes all prior agreements,
understandings, discussions, negotiations and undertakings, whether written or oral, between the parties with respect thereto.

 

8.9 Survival.
The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement or the Executive’s
employment hereunder to the extent necessary to the intended preservation of such rights and obligations.

 

8.10 Waiver.
Either Party's failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a waiver of
any such provision or provisions, or prevent that party thereafter from enforcing each and every other provision of this Agreement.

 

8.11 Successors.  This
Agreement is personal to Executive and, without the prior express written consent of the Company, shall not be assignable by Executive.
This Agreement shall inure to the benefit of and be enforceable by Executive’s estate, heirs, beneficiaries, and/or legal
representatives. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

 

8.12 Joint Efforts/Counterparts.
Preparation of this Agreement shall be deemed to be the joint effort of the parties hereto and shall not be construed more severely
against any party.  This Agreement may be signed in two or more counterparts, each of which shall be deemed an original
and all of which together shall constitute one and the same instrument.

 

8.13 Representation
by Counsel.   Each Party hereby represents that it has had the opportunity to be represented by legal counsel
of its choice in connection with the negotiation and execution of this Agreement.

 

IN WITNESS WHEREOF, the parties
have executed this Agreement as of the day and year first above written.

 

	EXECUTIVE:	 	Luokung Technology CoRP.
	 	 	 
	/s/ Jie Yu	 	/s/ Xuesong Song
	Jie Yu	 	Xuesong Song
	 	 	Chief Executive Officer

 

    	 	5Exhibit 10.1

 

NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE 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 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 A GENERALLY ACCEPTABLE
FORM, THAT REGISTRATION IS NOT REQUIRED 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.

 

	Principal Amount: $53,000.00	Issue Date: October 3, 2018

Purchase Price:
$53,000.00

 

CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE RECEIVED,
HYPERSOLAR, INC., a Nevada corporation (hereinafter called the “Borrower”), hereby promises to pay to the order
of POWER UP LENDING GROUP LTD., a Virginia corporation, or registered assigns (the “Holder”) the sum of $53,000.00
together with any interest as set forth herein, on October 3, 2019 (the “Maturity Date”), and to pay interest on the
unpaid principal balance hereof at the rate of ten percent (10%)(the “Interest Rate”) per annum from the date hereof
(the “Issue Date”) until the same becomes due and payable, whether at maturity or upon
acceleration or by prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set
forth herein. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty
two percent (22%) per annum from the due date thereof until the same is paid (“Default Interest”). Interest shall be
computed on the basis of a 365 day year and the actual number of days elapsed. Interest shall commence accruing on the Issue Date
but shall not be payable until the Note becomes payable (whether at Maturity Date or upon acceleration or by prepayment). All payments
due hereunder (to the extent not converted into common stock, $0.001 par value per share (the “Common Stock”) in accordance
with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address
as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Each
capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase
Agreement dated the date hereof, pursuant to which this Note was originally issued (the “Purchase Agreement”).

 

This Note is 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 Borrower and will not impose personal liability upon the holder thereof.

 

     

     

    

 

The following terms
shall apply to this Note:

 

Article
I. CONVERSION RIGHTS

 

1.1 Conversion Right.
The Holder shall have the right from time to time, and at any time during the period beginning on the date which is one hundred
eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment
of the Default Amount (as defined in Article III), each in respect of the remaining outstanding principal amount of this Note to
convert all or any part of the outstanding and unpaid principal amount of this Note into fully paid and non-assessable shares of
Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower
into which such Common Stock shall hereafter be changed or reclassified at the conversion price (the “Conversion Price”)
determined as provided herein (a “Conversion”); provided, however, that in no event shall the Holder
be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion of which the sum of (1)
the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares of Common Stock which
may be deemed beneficially owned through the ownership of the unconverted portion of the Notes or the unexercised or unconverted
portion of any other security of the Borrower subject to a limitation on conversion or exercise analogous to the limitations contained
herein) and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this Note with respect to which
the determination of this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more
than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately preceding sentence, beneficial
ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso. The beneficial ownership
limitations on conversion as set forth in the section may NOT be waived by the Holder. The number of shares of Common Stock
to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount (as defined below) by the
applicable Conversion Price then in effect on the date specified in the notice of conversion, in the form attached hereto as Exhibit
A (the “Notice of Conversion”), delivered to the Borrower by the Holder in accordance with Section 1.4 below; provided
that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or reasonably expected to result
in, notice) to the Borrower before 6:00 p.m., New York, New York time on such conversion date (the “Conversion Date”);
however, if the Notice of Conversion is sent after 6:00pm, New York, New York time the Conversion Date shall be the next business
day. The term “Conversion Amount” means, with respect to any conversion of this Note, the sum of (1) the principal
amount of this Note to be converted in such conversion plus (2) at the Holder’s option, accrued and unpaid interest,
if any, on such principal amount at the interest rates provided in this Note to the Conversion Date, plus (3) at the Holder’s
option, Default Interest, if any, on the amounts referred to in the immediately preceding clauses (1) and/or (2) plus (4)
at the Holder’s option, any amounts owed to the Holder pursuant to Sections 1.4 hereof.

 

1.2 Conversion Price.
The conversion price (the “Conversion Price”) shall equal the Variable Conversion Price (as defined herein) (subject
to equitable adjustments by the Borrower relating to the Borrower’s securities or the securities of any subsidiary of the
Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The “Variable
Conversion Price” shall mean 61% multiplied by the Market Price (as defined herein) (representing a discount rate of 39%).
“Market Price” means the average of the lowest two (2) Trading Prices (as defined below) for the Common Stock during
the fifteen (15) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price”
means, for any security as of any date, the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system or applicable
trading market (the “OTC”) as reported by a reliable reporting service (“Reporting Service”) designated
by the Holder (i.e. Bloomberg) or, if the OTC is not the principal trading market for such security, the closing bid price of such
security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price
of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such
security that are listed in the “pink sheets”. If the Trading Price cannot be calculated for such security on such
date in the manner provided above, the Trading Price shall be the fair market value as reasonably determined by the Borrower. “Trading
Day” shall mean any day on which the Common Stock is tradable for any period on the OTC, or on the principal securities exchange
or other securities market on which the Common Stock is then being traded.

 

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1.3 Authorized Shares.
The Borrower covenants that during the period the conversion right exists, the Borrower will reserve from its authorized and unissued
Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of Common Stock upon the full
conversion of this Note issued pursuant to the Purchase Agreement. The Borrower is required at all times to have authorized and
reserved six times the number of shares that would be issuable upon full conversion of the Note (assuming that the 4.99% limitation
set forth in Section 1.1 is not in effect)(based on the respective Conversion Price of the Note (as defined in Section 1.2) in
effect from time to time, initially 68,145,290)(the “Reserved
Amount”). The Reserved Amount shall be increased (or decreased with the written consent of the Holder) from time to time
in accordance with the Borrower’s obligations hereunder. The Borrower represents that upon issuance, such shares will be
duly and validly issued, fully paid and non-assessable. In addition, if the Borrower shall issue any securities or make any change
to its capital structure which would change the number of shares of Common Stock into which the Notes shall be convertible at the
then current Conversion Price, the Borrower shall at the same time make proper provision so that thereafter there shall be a sufficient
number of shares of Common Stock authorized and reserved, free from preemptive rights, for conversion of the outstanding Note.
The Borrower (i) acknowledges that it has irrevocably instructed its transfer agent to issue certificates for the Common Stock
issuable upon conversion of this Note, and (ii) agrees that its issuance of this Note shall constitute full authority to its
officers and agents who are charged with the duty of executing stock certificates to execute and issue the necessary certificates
for shares of Common Stock in accordance with the terms and conditions of this Note.

 

If, at any time the Borrower
does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of the Note.

 

1.4 Method of Conversion.

 

(a) Mechanics of
Conversion. As set forth in Section 1.1 hereof, from time to time, and at any time during the period beginning on the date
which is one hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii)
the date of payment of the Default Amount, this Note may be converted by the Holder in whole or in part at any time from time to
time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion (by facsimile, e-mail or other reasonable
means of communication dispatched on the Conversion Date prior to 6:00 p.m., New York, New York time) and (B) subject to Section
1.4(b), surrendering this Note at the principal office of the Borrower (upon payment in full of any amounts owed hereunder).

 

(b) Surrender of
Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance
with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire unpaid
principal amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the principal amount
so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower,
so as not to require physical surrender of this Note upon each such conversion.

 

    	 	3	 

     

    

 

(c) Delivery of
Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail (or other
reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in this Section
1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates for
the Common Stock issuable upon such conversion within two (2) business days after such receipt (the “Deadline”) (and,
solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with the terms
hereof and the Purchase Agreement. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall be deemed to be the
holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the amount of accrued
and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults on its obligations
hereunder, all rights with respect to the portion of this Note being so converted shall forthwith terminate except the right to
receive the Common Stock or other securities, cash or other assets, as herein provided, on such conversion. If the Holder shall
have given a Notice of Conversion as provided herein, the Borrower’s obligation to issue and deliver the certificates for
Common Stock shall be absolute and unconditional, irrespective of the absence of any action by the Holder to enforce the same,
any waiver or consent with respect to any provision thereof, the recovery of any judgment against any person or any action to enforce
the same, any failure or delay in the enforcement of any other obligation of the Borrower to the holder of record, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of any obligation to the Borrower,
and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower to the Holder in connection
with such conversion.

 

(d) Delivery of
Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock issuable upon
conversion, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated Securities
Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions set forth herein, the
Borrower shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion
to the Holder by crediting the account of Holder’s Prime Broker with DTC through its Deposit
and Withdrawal at Custodian (“DWAC”) system.

 

(e) Failure to Deliver
Common Stock Prior to Deadline. Without in any way limiting the Holder’s right to pursue other remedies, including actual
damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon conversion of this Note is
not delivered by the Deadline due to action and/or inaction of the Borrower, the Borrower shall pay to the Holder $2,000 per day
in cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock (the “Fail to Deliver Fee”);
provided; however that the Fail to Deliver Fee shall not be due if the failure is a result of a third party (i.e., transfer agent;
and not the result of any failure to pay such transfer agent) despite the best efforts of the Borrower to effect delivery of such
Common Stock. Such cash amount shall be paid to Holder by the fifth day of the month following the month in which it has accrued
or, at the option of the Holder (by written notice to the Borrower by the first day of the month following the month in which it
has accrued), shall be added to the principal amount of this Note, in which event interest shall accrue thereon in accordance with
the terms of this Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms
of this Note. The Borrower agrees that the right to convert is a valuable right to the Holder. The damages resulting from a failure,
attempt to frustrate, interference with such conversion right are difficult if not impossible to qualify. Accordingly, the parties
acknowledge that the liquidated damages provision contained in this Section 1.4(e) are justified.

 

    	 	4	 

     

    

 

1.5 Concerning the
Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred unless: (i) such shares
are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer agent shall have been
furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in
comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred pursuant to an exemption
from such registration (such as Rule 144 or a successor rule) (“Rule 144”); or (iii) such shares are transferred to
an “affiliate” (as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in
accordance with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase Agreement).

 

Any restrictive legend
on certificates representing shares of Common Stock issuable upon conversion of this Note shall be removed and the Borrower shall
issue to the Holder a new certificate therefore free of any transfer legend if the Borrower or its transfer agent shall have received
an opinion of counsel from Holder’s counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that (i) a public sale or transfer of such Common Stock may be made without registration under the
Act, which opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) in the case of the Common
Stock issuable upon conversion of this Note, such security is registered for sale by the Holder under an effective registration
statement filed under the Act; or otherwise may be sold pursuant to an exemption from registration. In the event that the Company
does not reasonably accept the opinion of counsel provided by the Holder with respect to the transfer of Securities pursuant to
an exemption from registration (such as Rule 144), at the Deadline, it will be considered an Event of Default pursuant to Section
3.2 of the Note.

 

1.6 Effect of Certain
Events.

 

(a) Effect of Merger,
Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets
of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which more than 50% of
the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of the Borrower with
or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall be deemed to be an Event of
Default (as defined in Article III) pursuant to which the Borrower shall be required to pay to the Holder upon the consummation
of and as a condition to such transaction an amount equal to the Default Amount (as defined in Article III). “Person”
shall mean any individual, corporation, limited liability company, partnership, association, trust or other entity or organization.

 

(b) Adjustment Due
to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion of all of the
Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event, as
a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of another
class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially
all of the assets of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then the Holder
of this Note shall thereafter have the right to receive upon conversion of this Note, upon the basis and upon the terms and conditions
specified herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion, such stock, securities
or assets which the Holder would have been entitled to receive in such transaction had this Note been converted in full immediately
prior to such transaction (without regard to any limitations on conversion set forth herein), and in any such case appropriate
provisions shall be made with respect to the rights and interests of the Holder of this Note to the end that the provisions hereof
(including, without limitation, provisions for adjustment of the Conversion Price and of the number of shares issuable upon conversion
of the Note) shall thereafter be applicable, as nearly as may be practicable in relation to any securities or assets thereafter
deliverable upon the conversion hereof. The Borrower shall not affect any transaction described in this Section 1.6(b) unless (a)
it first gives, to the extent practicable, ten (10) days prior written notice (but in any event at least five (5) days prior written
notice) of the record date of the special meeting of shareholders to approve, or if there is no such record date, the consummation
of, such merger, consolidation, exchange of shares, recapitalization, reorganization or other similar event or sale of assets (during
which time the Holder shall be entitled to convert this Note) and (b) the resulting successor or acquiring entity (if not the Borrower)
assumes by written instrument the obligations of this Note. The above provisions shall similarly apply to successive consolidations,
mergers, sales, transfers or share exchanges.

 

    	 	5	 

     

    

 

(c) Adjustment Due
to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets) to
holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or distribution
to the Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary (i.e., a
spin-off)) (a “Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this Note after
the date of record for determining shareholders entitled to such Distribution, to receive the amount of such assets which would
have been payable to the Holder with respect to the shares of Common Stock issuable upon such conversion had such Holder been the
holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such Distribution.

 

1.7 Prepayment.
Notwithstanding anything to the contrary contained in this Note, at any time during the periods set forth on the table immediately
following this paragraph (the “Prepayment Periods”), the Borrower shall have the right, exercisable on not more than
three (3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued interest),
in full, in accordance with this Section 1.7. Any notice of prepayment hereunder (an “Optional Prepayment Notice”)
shall be delivered to the Holder of the Note at its registered addresses and shall state: (1) that the Borrower is exercising its
right to prepay the Note, and (2) the date of prepayment which shall be not more than three (3) Trading Days from the date of the
Optional Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”), the Borrower shall make
payment of the Optional Prepayment Amount (as defined below) to Holder, or upon the direction of the Holder as specified by the
Holder in a writing to the Borrower (which direction shall to be sent to Borrower by the Holder at least one (1) business day prior
to the Optional Prepayment Date). 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 percentage (“Prepayment Percentage”) as set forth in the table immediately
following this paragraph opposite the applicable Prepayment Period, multiplied by the sum of: (w) the then outstanding principal
amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the Optional
Prepayment Date plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and (x) plus (z) any
amounts owed to the Holder pursuant to Section 1.4 hereof (the “Optional Prepayment Amount”). If the Borrower delivers
an Optional Prepayment Notice and fails to pay the Optional Prepayment Amount due to the Holder of the Note within two (2) business
days following the Optional Prepayment Date, the Borrower shall forever forfeit its right to prepay the Note pursuant to this Section
1.7.

 

	Prepayment Period	 	Prepayment Percentage	 
	1. The period beginning
    on the Issue Date and ending on the date which is thirty (30) days following the Issue Date.	 	 	120	%
	2. The period beginning on the date
    which is thirty-one (31) days following the Issue Date and ending on the date which is sixty (60) days following the Issue
    Date.	 	 	125	%
	3. The period beginning on the date
    which is sixty-one (61) days following the Issue Date and ending on the date which is ninety (90) days following the Issue
    Date.	 	 	130	%
	4. The period beginning on the date
    that is ninety-one (91) day from the Issue Date and ending one hundred twenty (120) days following the Issue Date.	 	 	135	%
	5. The period beginning on the date
    that is one hundred twenty-one (121) day from the Issue Date and ending one hundred fifty (150) days following the Issue
    Date.	 	 	140	%
	6. The period beginning on the date
    that is one hundred fifty-one (151) day from the Issue Date and ending one hundred eighty (180) days following the Issue
    Date.	 	 	145	%

 

After the expiration
of one hundred eighty (180) days following the Issue Date, the Borrower shall have no right of prepayment.

 

    	 	6	 

     

    

 

Article
II.  CERTAIN COVENANTS

 

2.1 Sale of Assets.
So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent,
sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course of business. Any consent
to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

Article
III.  EVENTS OF DEFAULT

 

If any of the following
events of default (each, an “Event of Default”) shall occur:

 

3.1 Failure to Pay
Principal and Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this Note, whether at
maturity or upon acceleration and such breach continues for a period of five (5) days after written notice from the Holder.

 

3.2 Conversion and
the Shares. The Borrower fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that it
will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the
terms of this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form)
any certificate for shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when
required by this Note, the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer
agent in transferring (or issuing) (electronically or in certificated form) any certificate for shares of Common Stock to be issued
to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, or fails to remove (or directs
its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or
to withdraw any stop transfer instructions in respect thereof) on any certificate for any shares of Common Stock issued to the
Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written announcement,
statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure shall continue
uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing) for two
(2) business days after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to remain current
in its obligations to its transfer agent. It shall be an event of default of this Note, if a conversion of this Note is delayed,
hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the Holder
advances any funds to the Borrower’s transfer agent in order to process a conversion, such advanced funds shall be paid by
the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder.

 

    	 	7	 

     

    

 

3.3 Breach of Covenants.
The Borrower breaches any material covenant or other material term or condition contained in this Note and any collateral documents
including but not limited to the Purchase Agreement and such breach continues for a period of twenty (20) days after written notice
thereof to the Borrower from the Holder.

 

3.4 Breach of Representations
and Warranties. Any representation or warranty of the Borrower made herein or in any agreement, statement or certificate given
in writing pursuant hereto or in connection herewith (including, without limitation, the Purchase Agreement), shall be false or
misleading in any material respect when made and the breach of which has (or with the passage of time will have) a material adverse
effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.5 Receiver or Trustee.
The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply for or consent to
the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a receiver or trustee
shall otherwise be appointed.

 

3.6 Bankruptcy.
Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under
any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the
Borrower.

 

3.7 Delisting of Common
Stock. The Borrower shall fail to maintain the listing of the Common Stock on at least one of the OTC (which specifically includes
the quotation platforms maintained by the OTC Markets Group) or an equivalent replacement exchange, the Nasdaq National Market,
the Nasdaq SmallCap Market, the New York Stock Exchange, or the American Stock Exchange.

 

3.8 Failure to Comply
with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange Act; and/or the Borrower
shall cease to be subject to the reporting requirements of the Exchange Act.

 

3.9 Liquidation.
Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.10 Cessation of
Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as
such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern”
shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.11 Financial Statement
Restatement. The restatement of any financial statements filed by the Borrower with the SEC at any time after 180 days after
the Issuance Date for any date or period until this Note is no longer outstanding, if the result of such restatement would, by
comparison to the un-restated financial statement, have constituted a material adverse effect on the rights of the Holder with
respect to this Note or the Purchase Agreement.

 

3.12 Replacement of
Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails to provide, prior
to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered
pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in
the Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower.

 

    	 	8	 

     

    

 

3.13 Cross-Default. 
Notwithstanding anything to the contrary contained in this Note or the other related or companion documents, a breach or default
by the Borrower of any covenant or other term or condition contained in any of the Other Agreements, after the passage of all applicable
notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements,
in which event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the Holder under the
terms of this Note and the Other Agreements by reason of a default under said Other Agreement or hereunder. “Other Agreements”
means, collectively, all agreements and instruments between, among or by: (1) the Borrower, and, or for the benefit of, (2) the
Holder and any affiliate of the Holder, including, without limitation, promissory notes; provided, however, the term “Other
Agreements” shall not include the related or companion documents to this Note. Each of the loan transactions will be cross-defaulted
with each other loan transaction and with all other existing and future debt of Borrower to the Holder.

 

Upon the occurrence and during the continuation
of any Event of Default specified in Section 3.1 (solely with respect to failure to pay the principal hereof or interest thereon
when due at the Maturity Date), the Note shall become immediately due and payable and the Borrower shall pay to the Holder, in
full satisfaction of its obligations hereunder, an amount equal to the Default Amount (as defined herein).  UPON THE OCCURRENCE
AND DURING THE CONTINUATION OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE SHALL BECOME IMMEDIATELY DUE AND PAYABLE
AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT EQUAL TO: (Y) THE DEFAULT
AMOUNT (AS DEFINED HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence and during the continuation of any Event of Default
specified in Sections 3.1 (solely with respect to failure to pay the principal hereof or interest thereon when due on this Note
or upon acceleration), 3.3, 3.4, 3.7, 3.8, 3.10, 3.11, 3.12, 3.13, and/or 3.14 exercisable through the delivery of written notice
to the Borrower by such Holders (the “Default Notice”), and upon the occurrence of an Event of Default specified the
remaining sections of Articles III (other than failure to pay the principal hereof or interest thereon at the Maturity Date specified
in Section 3,1 hereof), the Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction
of its obligations hereunder, an amount equal to the greater of (i) 150% times the sum of (w) the then outstanding
principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the date
of payment (the “Mandatory Prepayment Date”) plus (y) Default Interest, if any, on the amounts referred to in
clauses (w) and/or (x) plus (z) any amounts owed to the Holder pursuant to Section 1.4(e) hereof (the then outstanding principal
amount of this Note to the date of payment plus the amounts referred to in clauses (x), (y) and (z) shall collectively be
known as the “Default Amount”) and all other amounts payable hereunder shall immediately become due and payable, all
without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation,
legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at
law or in equity. 

 

If the Borrower fails
to pay the Default Amount within five (5) business days of written notice that such amount is due and payable, then the Holder
shall have the right at any time, so long as the Borrower remains in default (and so long and to the extent that there are sufficient
authorized shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default Amount, the number
of shares of Common Stock of the Borrower equal to the Default Amount divided by the Conversion Price then in effect.

 

    	 	9	 

     

    

 

Article
IV. MISCELLANEOUS

 

4.1 Failure or Indulgence
Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder are cumulative to, and
not exclusive of, any rights or remedies otherwise available.

 

4.2 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, 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 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
Borrower, to:

 

HYPERSOLAR, INC.

10 E. Yanonali St., Suite 36

Santa Barbara, CA 93101

Attn: Timothy
Young, President and Chief Executive Officer

Fax:

Email: tyoung@hypersolar.com

 

If to the
Holder:

 

POWER UP
LENDING GROUP LTD.

111 Great
Neck Road, Suite 214

Great Neck,
NY 11021

Attn: Curt
Kramer, Chief Executive Officer

e-mail:
info@poweruplending.com

 

With a copy
by fax only to (which copy shall not constitute notice):

 

Naidich Wurman
LLP

111 Great
Neck Road, Suite 216

Great Neck,
NY 11021

Attn: Allison
Naidich

facsimile:
516-466-3555

e-mail:
allison@nwlaw.com

 

    	 	10	 

     

    

 

4.3 Amendments.
This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The term
“Note” and all reference thereto, as used throughout this instrument, shall mean this instrument (and the other Notes
issued pursuant to the Purchase Agreement) as originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4 Assignability.
This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit of the Holder and
its successors and assigns. Each transferee of this Note must be an “accredited investor” (as defined in Rule 501(a)
of the Securities and Exchange Commission). Notwithstanding anything in this Note to the contrary, this Note may be pledged as
collateral in connection with a bona fide margin account or other lending arrangement; and may be assigned by the Holder
without the consent of the Borrower.

 

4.5 Cost of Collection.
If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection, including reasonable
attorneys’ fees.

 

4.6 Governing Law.
This Note shall be governed by and construed in accordance with the laws of the State of Virginia without regard to principles
of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Note
shall be brought only in the state courts of New York or in the federal courts located in the Eastern District of New York. The
parties to this Note 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. The Borrower and Holder
waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and
costs. In the event that any provision of this Note or any other agreement 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 any agreement. 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 Note, any agreement or any other document delivered in connection with this Note 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 Note 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.

 

4.7 Purchase Agreement.
By its acceptance of this Note, each party agrees to be bound by the applicable terms of the Purchase Agreement.

 

4.8 Remedies.
The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for
a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the
Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law
or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing
any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic
loss and without any bond or other security being required.

 

    	 	11	 

     

    

 

IN WITNESS WHEREOF,
Borrower has caused this Note to be signed in its name by its duly authorized officer this on October 3, 2018

 

	HYPERSOLAR, INC.	 
	 	 
	By:	/s/ Timonthy Young	 
	 	Timothy Young	 
	 	President and Chief Executive Officer	 

 

    	 	12	 

     

    

 

EXHIBIT A -- NOTICE OF CONVERSION

 

The undersigned hereby
elects to convert $_________________ principal amount of the Note (defined below) into that number
of shares of Common Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth
below, of HYPERSOLAR, INC., a Nevada corporation (the “Borrower”) according to the conditions of the convertible note
of the Borrower dated as of October 3, 2018 (the “Note”), as of the date written below. No fee will be charged to the
Holder for any conversion, except for transfer taxes, if any.

 

Box Checked as to applicable
instructions:

 

		☐	The Borrower shall electronically transmit the Common Stock
issuable pursuant to this Notice of Conversion to the account of the undersigned or its nominee with DTC through its Deposit Withdrawal
Agent Commission system (“DWAC Transfer”).

 

Name of DTC Prime Broker:

Account Number:

 

		☐	The undersigned hereby requests that the Borrower issue
a certificate or certificates for the number of shares of Common Stock set forth below (which numbers are based on the Holder’s
calculation attached hereto) in the name(s) specified immediately below or, if additional space is necessary, on an attachment
hereto:

 

POWER UP LENDING GROUP LTD.

111 Great Neck Road, Suite 214

Great Neck, NY 11021

Attention: Certificate Delivery

e-mail: info@poweruplendinggroup.com

 

	Date of conversion:	_____________
	Applicable Conversion Price:	$____________
	Number of shares of common stock to be issued	 
	pursuant to conversion of the Notes:	______________
	Amount of Principal Balance due remaining	 
	under the Note after this conversion:	______________

 

	 	POWER UP LENDING GROUP LTD.	 
	 	 	 	 
	 	By:	 	 
	 	Name:	Curt Kramer	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 
	 	 	Date: __________________	 

 

    	 	13

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