Document:

ROKWADER, INC.

(a
delaware corporation)

 

 

 

6%
Subordinated convertible Promissory Note

 

 

 

 

NEITHER THIS NOTE NOR THE SECURITIES ISSUABLE
UPON THE CONVERSION HEREOF AS PROVIDED HEREIN HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE LAWS
OF ANY STATE OR OTHER JURISDICTION. TRANSFER OF THIS NOTE AND SUCH SECURIITES IS RESTRICTED PURSUANT TO SUCH LAWS.

 

 

	$50,000.00	
        Calabasas, California

        October 28, 2013

 

 

		1.	Note. FOR VALUE RECEIVED, ROKWADER, INC.,
a Delaware corporation (the “Company” or the “Borrower”), hereby promises to pay to the order of Brooktide
LLC (the “Holder”) the amount of $50,000.00 on demand (“Due Date”) and to pay interest at the rate of six
(6 %) per annum on the outstanding principal. Interest payments shall be made with principal on the due date, to the Holder in
lawful money of the United States at, 23679 Calabasas Rd. #412, Calabasas, CA 91302, or at such other place as the Holder may specify
in writing.

 

		2.	Default. In the event of an occurrence of any event of default specified below, the
principal and all accrued interest on the Note shall become immediately due and payable without notice, except as specified below.
The occurrence of any of the following events shall constitute an event of default under this Note:

 

		2.1	The Company fails to make any payment hereunder when due, which failure has not been cured within
thirty (30) days following such failure.

 

		2.2	If the Borrower shall file a petition to take advantage of any insolvency act; make an assignment
for the benefit of its creditors; commence a proceeding for the appointment of a receiver, trustee, liquidator or conservator of
itself of a whole or any substantial part of its property; file a petition or answer seeking reorganization or arrangement or similar
relief under the federal bankruptcy laws or any other applicable law or statute of the United States of America or any state;
or

 

		2.3	If a court of competent jurisdiction shall enter an order, judgment or decree appointing a custodian,
receiver, trustee, liquidator or conservator of the Borrower or of the whole or any substantial part of its properties, or approve
a petition filed against the Borrower seeking reorganization or arrangement or similar relief under the federal bankruptcy laws
or any other applicable law or statute of the United States of America or any state; or if, under the provisions of any other
law for the relief or aid of debtors, a court of competent jurisdiction shall assume custody or control of the Borrower or of the
whole or any substantial part of its properties; or if there is commenced against the Borrower any proceeding for any of the foregoing
relief and such proceeding or petition remains undismissed for a period of thirty (30) days; or if the Borrower by any act indicates
its consent to or approval of any such proceeding or petition; or

		2.4	If (i) any judgment remaining unpaid, unstayed or undismissed for a period of sixty (60) days
is rendered against the Borrower which by itself or together with all other such judgments rendered against the Borrower remaining
unpaid, unstayed or undismissed for a period of sixty (60) days, is in excess of $100,000, or (ii) there is any attachment
or execution against the Borrower’s properties remaining unstayed or undismissed for a period of sixty (60) days which by
itself or together with all other attachments and executions against the Borrower’s properties remaining unstayed or undismissed
for a period of 60 days is for an amount in excess of $100,000.00.

 

		3.	Conversion – Holder

 

		3.1	Conversion Rights. At any time from the date
hereof the Holder will have the right, at its option, to convert the Note into Shares of Common Stock of the Company (the “Shares”)
at the conversion rate then in effect.

 

			The initial conversion rate is fifty cents ($0.50) per share
or 100,000 Shares if the entire Note was converted, subject to adjustments in certain events. No fractional Share or scrip representing
a fractional Share will be issued upon conversion of the Notes. Cash will be paid in lieu of any fractional Shares equal to the
then current market value of such fractional Share. 

 

			The conversion rate will be appropriately adjusted if the
Company (a) pays a dividend or makes a distribution on its Shares of Common Stock which is paid or made in Shares of Common
Stock, (b) subdivides or reclassifies its outstanding Shares of Common Stock, (c) combines its outstanding Shares of
Common Stock into a smaller number of Shares of Common Stock, (d) issues Shares of Common Stock, or issues rights or warrants
to all Holders of its Common Stock entitling them to subscribe for or purchase Shares of Common Stock (or securities convertible
into Common Stock), at a price per Share less than $0.50 per Share, or (e) distributes to all Holders of its Common Stock
evidences of its indebtedness or assets (excluding any dividend paid in cash out of legally available funds) subject to the limitation
that adjustments by reason of any of the foregoing need not be made until they result in a cumulative change in the conversion
rate of at least five percent (5%). The conversion rate will not be adjusted upon the conversion of presently outstanding stock
options or warrants.

 

			In case of any consolidation or merger to which the Company
is a party other than a merger or consolidation in which the Company is the surviving corporation, or in case of any sale or conveyance
to another corporation of the property of the Company as an entirety or substantially as an entirety, or in case of any statutory
exchange of securities with another corporation, there will be no adjustment of the conversion price, but each Holder of the Notes
then outstanding will have the right thereafter to convert such Notes into the kind and amount of securities, cash or other property
which he would have owned or have been entitled to receive immediately after such consolidation, merger, statutory exchange, sale
or conveyance had such Notes been converted immediately prior to the effective date of such consolidation, merger, statutory exchange,
sale or conveyance. In the case of a cash merger of the Company into another corporation or any other cash transaction of the type
mentioned above, the effect of these provisions would be that the conversion features of the Notes would thereafter be limited
to converting the Notes at the conversion price in effect at such time into the same amount of cash per Share that such Holder
would have received had such Holder converted the Notes into Common Stock immediately prior to the effective date of such cash
merger or transaction.

 

		3.2	Mechanics of Conversion.

 

			The Note may be converted upon a notice from the Company
to the Note holder and surrender of the Notes at any time from the date hereof, at the offices of the Company, 23945 Calabasas
Road, Suite 115, Calabasas, CA 91302, with the form of “Notice of Conversion” duly completed and executed as indicated.
Shares of Common Stock issued upon conversion will be fully paid and non-assessable.

 

 

		4.	Prepayment. Borrower may prepay any or all amounts due under this Note at any time
from the date of this Note at one hundred percent (100%) of the principal amount of the Note together with accrued interest; provided,
however, that Borrower, as a condition to prepayment of some or all of the balance hereof, shall deliver written notice of its
intention to prepay at least thirty (30) calendar days prior to the date of such prepayment (“Prepayment Date”).

 

		5.	Subordination. Indebtedness evidenced by the Note will be subordinated in right of
payment to the prior payment in full of all existing and future Senior Indebtedness of the Company. Senior Indebtedness is defined
as the principal of (and premium, if any) and unpaid interest or accrued original issue discount on and other amounts due on or
in connection with any Debt (as defined below) incurred, assumed or guaranteed by the Company, whether outstanding on the date
of the issuance of the Note or thereafter incurred, assumed or guaranteed and all renewals, extensions and refunding of any such
Debt; provided, however, that the following will not constitute Senior Indebtedness:

 

		(i)	any Debt as to which, in the instrument creating or evidencing the same or pursuant to which the
same is outstanding, it is expressly provided that such Debt is subordinate in right of payment to all other debt of the Company
not expressly subordinated to such Debt;

 

		(ii)	any Debt which by its terms refers explicitly to the Note and states that such Debt shall not be
senior in right of payment thereto;

 

		(iii)	any Debt of the Company in respect of the Note;

 

		(iv)	any Debt of the Company to any Subsidiary of the Company; and

 

		(v)	any Debt of the Company to any joint venture or partnership, which joint venture or partnership
is required, under generally accepted accounting principles, to be consolidated in the Company’s consolidated financial statements.

 

			Debt is defined to mean, with respect to any person at any date, without duplication:

 

		(i)	all obligations of such person for borrowed money,

 

		(ii)	all obligations of such person evidenced by bonds, debentures, note or other similar instruments,

 

		(iii)	all Debt of others secured by a lien on any asset of such person, whether or not such Debt is assumed
by such person,

 

		(iv)	all Debt of others for the payment, of which such person is responsible or liable as obligor or
guarantor,

 

		(v)	all obligations of such person in respect of letters of credit or other similar instruments (or
reimbursement obligations with respect thereto),

 

		(vi)	all obligations of such person to pay the deferred purchase price of property or services, except
Trade Payables, and

 

		(vii)	all reimbursement, reserve funding and other obligations of such person in respect of surety bonds
executed by such person or at the request of and for the benefit of such person.

 

 

 

By reason of such subordination,
in the event of dissolution, insolvency, bankruptcy or other similar proceedings, upon any distribution of assets, (i) holders
of Senior Indebtedness will be entitled to be paid in full before payments may be made on the Note, and the Holder of the Note
will be required to pay over their share of such distribution to the holder of Senior Indebtedness until such Senior Indebtedness
is paid in full and (ii) creditors of the Company who are neither holders of Notes nor holders of Senior Indebtedness may
recover less, ratably, than holders of Senior Indebtedness and may recover more, ratably, than the Holder of the Note.

 

		6.	Securities Law Compliance. The Holder understands that the right of conversion of
this Note is subject to full compliance with the provisions of all applicable securities laws and the availability thereunder upon
any conversion of any exemption from registration thereunder for such conversion, and that the certificate or certificates evidencing
such Note will bear a legend to the following effect:

 

“THE
SECURITIES EVIDENCED HEREBY MAY NOT BE TRANSFERRED WITHOUT (i) THE OPINION OF COUNSEL SATISFACTORY TO THIS CORPORATION THAT
SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE FEDERAL SECURITIES ACT OF 1933, AS AMENDED, OR (ii) SUCH
REGISTRATION.”

 

		7.	Notices. Any notice herein required or permitted to be given shall be in writing
and may be personally served, sent by United States Mail, certified, or by overnight delivery service. For the purposes hereof,
the address of the Holder and the address of the Company shall be as reflected in the Subscription Agreement between the Holder
and the Company of even date herewith. Both the Holder and the Company may change the address for service by written notice to
the other as herein provided.

 

		8.	No Waiver Rights and Remedies Cumulative. No failure on the part of the Holder to
exercise, and no delay in exercising any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise
by the Holder of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The rights
and remedies herein provided are cumulative and not exclusive of any remedies or rights provided by law or by any other agreement
between the Borrower and the Holder.

 

		9.	Amendments. No amendment, modification or waiver of any provision of this Note nor
consent to any departure by the Holder therefrom shall be effective unless the same shall be in writing and signed by the Holder
and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

 

		10.	Successors and Assigns. This Note shall be binding upon the Borrower and its successors
and assigns and the terms hereof shall inure to the benefit of the Holder and its successors and assigns, including subsequent
holders hereof.

 

		11.	Severability. The provisions of this Note are severable, and if any provision shall
be held invalid or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall not in
any manner affect such provision in any other jurisdiction or any other provision of this Note in any jurisdiction.

 

		12.	Waiver of Notice. The Borrower hereby waives presentment, demand for payment, notice
of protest and all other demands in connection with the delivery, acceptance, performance, default or enforcement of this Note.

 

		13.	Governing Law. This Note has been executed in and shall be governed by the laws of
the State of California.

  

		14.	Note Holder is Not a Shareholder. No Holder of this Note, solely by virtue of the
ownership of this Note, shall be considered a shareholder of the Company for any purpose, nor shall anything in this Note be construed
to confer on any Holder of this Note any rights of a shareholder of the Company including, without limitation, any right to vote,
give or withhold consent to any corporate action, receive notice of meetings of shareholders or receive dividends.

 

		15.	Exchange and Replacement of Note. Upon surrender of this Note to the Borrower, the
Borrower shall execute and deliver, at its expense, one or more new Notes of such denominations and in such names, as requested
by the holder of the surrendered Note. Upon receipt of evidence satisfactory to the Company of the loss, theft, mutilation, or
destruction of any Note, the Borrower will make and deliver a new Note of like tenor at the request of the holder of such Note.

 

 

IN WITNESS WHEREOF, the
Company has caused this Note to be signed by its authorized officers as of the 28th day of October, 2013.

 

 

	 	 	
        ROKWADER, INC.

         

	
         

         

         
	 	
         

        By: /s/ Mitchell Turk

        Mitchell Turk, SecretaryExhibit
10.11

SECURED
CONVERTIBLE note PURCHASE AGREEMENT

THIS SECURED
CONVERTIBLE NOTE PURCHASE AGREEMENT (“Agreement”) is made and entered into as of September 5, 2013 by and
between West Texas Resources, Inc., a Nevada corporation (the “Company”), and Gary Bryant (the “Investor”).

For good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Investor hereby agrees as follows:

1.            Sale and Purchase of Note. Subject to the terms and conditions hereof, the Company hereby sells to the Investor,
and the Investor hereby purchases from the Company, a secured convertible promissory note in the form attached hereto as Exhibit
A (the “Note”) in the principal amount of $130,000, for a purchase price of $130,000. Interest will accrue on
the unpaid principal balance of the Note at the rate of six percent (6%) per annum. All principal and unpaid interest shall be
due and payable on December 6, 2013.

2.            Representations and Warranties of the Company. To induce the Investor to enter into this Agreement and to purchase
the Note, the Company hereby represents and warrants to the Investor that:

2.1             
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and
in good standing under the laws of the State of Nevada. The Company has all requisite corporate power and authority to own and
operate its properties and assets. The Company is duly qualified and is authorized to do business and is in good standing as a
foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes
such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect
on the business, assets, liabilities, financial condition, operations or prospects of the Company.

2.2             
Authority; Binding Obligations. The Company has all requisite corporate power and authority to execute and deliver
this Agreement and the Note and to perform its obligations hereunder and thereunder. All corporate action on the part of the Company
necessary for the authorization of this Agreement and the Note has been taken. This Agreement and the Note, when executed and delivered,
will be valid and binding obligations of the Company.

2.3             
SEC Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by it under the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act
of 1934 (“Exchange Act”), including pursuant to Section 13(a) or 15(d) thereof, for the period commencing on
April 27, 2012 through the date hereof (the foregoing materials, including the exhibits thereto and documents incorporated by reference
therein, being collectively referred to herein as the "SEC Reports") on a timely basis or has received a valid
extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their
respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange
Act and the rules and regulations of the U.S. Securities and Exchange Commission (“Commission”) promulgated
thereunder, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Reports complied
in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto
as in effect at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted
accounting principles applied on a consistent basis during the periods involved ("GAAP"), except as may be otherwise
specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all
footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated
subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject,
in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.

    	1

    	 

    

3.            Representations of the Investor. The Investor represents to the Company that:

3.1             
Investment Intent. The Note and the common shares underlying the Note (collectively, the Securities”)
are being acquired by the Investor for investment purposes only for the Investor’s own account and not with the view to,
or for resale in connection with, any distribution or public offering thereof. The Investor has no current plan or intention to
engage in a sale, exchange, transfer, distribution or other disposition, directly or indirectly, of the Securities. The Investor
is able to bear the economic risk of his investment and has the knowledge and experience in financial and business matters that
he is capable of evaluating the merits and risks of an investment in the Securities.

3.2             
Pre-existing Relationship; No General Solicitation. The Investor has a preexisting personal or business relationship
with one or more of the Company’s officers or directors and the Investor’s purchase of the Securities is not the result
of any general solicitation or general advertising, including, but not limited to (i) any advertisement, article, notice or other
communication published in any newspaper, magazine, the internet or similar media or broadcast over television or radio; and (ii)
any seminar or meeting whose attendees have been invited by any general solicitation or general advertising. 

3.3             
Sophistication. The Investor has significant knowledge and experience in financial and business matters and is capable
of evaluating the terms of this Agreement and the Note, and has opted to purchase the Note on the terms set forth hereinafter evaluating
the terms of this Agreement and the Note in light of the aforementioned knowledge and experience.

3.4             
Restrictions on Resale, Rule 144. The Investor understands that the Securities have not been registered under the
Securities Act or any state securities laws by reason of its contemplated issuance in transactions exempt from the registration
requirements of the Securities Act pursuant to Section 4(a)(2) thereof and Rule 506 promulgated thereunder and applicable state
securities laws, and that the reliance of the Company and others upon these exemptions is predicated in part upon this representation
by the Investor. The Investor further understands that the Securities may not be transferred or resold without (a) registration
under the Securities Act and any applicable state securities laws, or (b) an exemption from the requirements of the Securities
Act and applicable state securities laws. The Investor understands that an exemption from such registration is not presently available
pursuant to Rule 144 promulgated under the Securities Act by the Commission and that in any event the Investor may not sell the
Securities acquired hereunder pursuant to Rule 144 prior to the expiration of the 6-month period (or such shorter period as the
Commission may hereafter adopt) after the Investor has acquired the Securities. The Investor understands that any sales pursuant
to Rule 144 can be made only in full compliance with the provisions of Rule 144.

3.5             
Legend; Stop Transfer. The Securities will bear a legend substantially similar to the following:

thE
SECURITIES haVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, as amended (THE “securities ACT”). THEY MAY NOT
BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A CURRENT AND EFFECTIVE REGISTRATION
STATEMENT UNDER THE securities ACT WITH RESPECT TO SUCH SECURITIES, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT such
REGISTRATION IS NOT REQUIRED UNDER THE securities ACT.

    	2

    	 

    

The Company will
make a notation regarding the restrictions on transfer of the Securities in its books and it will be transferred on the books of
the Company only if transferred or sold pursuant to an effective registration statement under the Securities Act covering the securities
to be transferred or an opinion of counsel satisfactory to the Company that such registration is not required.

3.6             
Domicile; Qualification as an Accredited Investor. The Investor’s state of domicile is the state set forth
in such Investor’s address on the signature page hereto. The Investor by execution of this Agreement hereby represents that
he qualifies as an “accredited investor” for purposes of Regulation D promulgated under the Securities Act.

3.7             
Acts and Proceedings. This Agreement has been duly authorized by all necessary action on the part of the Investor,
has been duly executed and delivered by the Investor, and is a valid and binding agreement of the Investor and enforceable against
the Investor in accordance with its respective terms, except as enforceability may be limited by bankruptcy, insolvency, moratorium,
reorganization or other similar laws affecting the enforcement of creditors’ rights generally and to judicial limitations
on the remedy of specific enforcement and other equitable remedies.

3.8             
Disclosure of Information. The Investor represents that the Company has made available to the Investor at a reasonable
time prior to the execution of this Agreement the opportunity to ask questions and receive answers concerning the terms and conditions
of the Securities and to obtain any additional information about the Company (which the Company possesses or can acquire without
unreasonable effort or expense) as may be necessary to verify the accuracy of information furnished to the Investor. The Investor
has had a reasonable opportunity prior to the execution of this Agreement to review the SEC Reports, all of which is publicly available
from the Commission’s web site at www.sec.gov, and to ask questions and receive answers concerning the financial condition
of the Company.

4.            Amendment to Prior Note. As an additional inducement to the Investor to enter into this Agreement and purchase the
Note, the Company hereby agrees to amend that certain promissory note dated August 14, 2013 (“Prior Note”)
in the original principal amount of $417,762 made by the Company in favor of Investor for purposes allowing the Investor to convert
all principal and interest under the Prior Note into shares of the Company’s $0.001 par value common stock, at a conversion
price of $0.50 per share, on the same terms and conditions as those set forth in Section 5 of the Note.

5.            Miscellaneous.

5.1             
Written Changes, Waivers, Etc. Neither this Agreement nor any provision hereof may be changed, waived, discharged
or terminated orally, but only by a statement in writing signed by the party against which enforcement of the change, waiver, discharge
or termination is sought.

5.2             
Notices. All notices, requests, consents and other communications required or permitted hereunder, under the Note
will be in writing and will be delivered, or mailed first-class postage prepaid, registered or certified mail to the Investor at
the address listed on the signature page hereto and if to the Company, to the attention of Chief Executive Officer, West Texas
Resources, Inc., 5729 Lebanon Road, Suite 144, Frisco, Texas 75034. Such notices and other communications will for all purposes
of this Agreement be treated as being effective or having been given if delivered personally, or, if sent by mail, when received.
Any party may change its address for such communications by giving notice thereof to the other parties in conformity with this
Section.

    	3

    	 

    

5.3             
Entire Agreement. This Agreement, the exhibits hereto and the documents referenced herein constitute the entire understanding
and agreement of the parties hereto with respect to the subject matter hereof and thereof and supersede all prior and contemporaneous
agreements or understandings, inducements or conditions, express or implied, written or oral, between the parties with respect
hereto and thereto.

5.4             
Severability. Should any one or more of the provisions of this Agreement or of any agreement entered into pursuant
to this Agreement be determined to be illegal or unenforceable, all other provisions of this Agreement and of each other agreement
entered into pursuant to this Agreement, will be given effect separately from the provision or provisions determined to be illegal
or unenforceable and will not be affected thereby.

5.5             
Successors and Assigns. Except to the extent otherwise provided herein, the terms and conditions of this Agreement
will inure to the benefit of and be binding upon and be enforceable by the successors and assigns of the parties hereto.

5.6             
Governing Law. This Agreement will be governed by and construed under the laws of the State of Texas.

5.7             
Counterparts. This Agreement may be executed concurrently in two or more counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same instrument.

5.8             
Expenses. Each party shall be responsible for its costs and expenses incurred in connection with this Agreement.

(Remainder of Page Intentionally Left Blank)

 

 

 

 

 

 

 

 

 

 

 

 

 

    	4

    	 

    

 

IN WITNESS WHEREOF, this Agreement is
hereby executed as of the date first written above.

“COMPANY”

WEST TEXAS RESOURCES, INC.,

a Nevada corporation

By: /s/ Stephen E. Jones

       Stephen E. Jones,

       Chief Executive Officer

“INVESTOR”

/s/ Gary E. Bryant

Gary Bryant

Address:

980 Noble Champions Way

Bartonville, Texas 76226

Facsimile No.: (940) 725-3604

(Signature page to Secured Convertible
Note Purchase Agreement)

 

    	5

    	 

    

 

Exhibit A

Form of Secured
Convertible Promissory Note

(See attached)

 

 

 

 

 

 

 

 

 

 

    	 

    	 

    

THIS NOTE HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). IT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED,
HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A CURRENT AND EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
WITH RESPECT TO SUCH NOTE, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE
SECURITIES ACT.

SECURED CONVERTIBLE PROMISSORY NOTE

	$130,000.00	Frisco, Texas
	 	September 5, 2013

 

WEST TEXAS RESOURCES,
INC., a Nevada corporation (“Maker”), hereby promises to pay to the order of Gary Bryant (“Lender”),
or permitted assigns, in lawful money of the United States of America, the lesser of ONE HUNDRED THIRTY THOUSAND DOLLARS ($130,000.00)
or the principal balance outstanding under this Secured Convertible Promissory Note (“Note”), together with
accrued and unpaid interest thereon, at the rate or rates set forth below, on December 6, 2013 (the “Maturity Date”).

1.            This Note
is issued pursuant to the terms of that certain Note Purchase Agreement dated as of even date herewith by and between Maker and
Lender (the “Purchase Agreement”). The Purchase Agreement includes certain rights and obligations of the Maker
and Lender with respect to this Note, all of which are incorporated herein by this reference.

2.            The unpaid
principal amount of this Note shall bear interest at a rate per annum equal to six percent (6%) calculated on the basis of a 365
day year and the actual number of days elapsed. Interest on the unpaid principal amount shall be paid on the Maturity Date.

3.            This Promissory
Note may be prepaid in whole or in part at any time, without premium or penalty on thirty (30) days prior written notice to Lender.

4.            Maker hereby
pledges to Lender, and hereby grants to Lender, a security interest in Maker’s working interest in the offshore oil and gas
field known as Port Hudson Field as collateral security for the prompt and complete payment and performance when due (whether at
the stated maturity, by acceleration or otherwise) of Maker’s obligations under this Note and the Prior Note (as defined
in the Purchase Agreement) (“Obligations”) including, without limitation all proceeds and products of any and
all of the foregoing (collectively, the “Collateral”). In furtherance of the foregoing, Maker agrees to deliver
to Lender duly completed financing statements and such other documents and instruments as Lender may reasonably request from time
to time to perfect the liens and security interests in the Collateral granted hereunder. Upon the payment or conversion in full
of the Obligations, the security interests shall automatically terminate and all rights to the Collateral shall revert to Maker.
In furtherance of the foregoing, Lender agrees to deliver to Maker, at Maker’s expense, such instruments as Maker may reasonably
request to evidence the termination or release of the security interests, as the case may be.

    	1

    	 

    

5.            Conversion.
All principal and interest will be convertible at the option of the Lender, at any time, in accordance with this Section 5.

(a)            Conversion
Ratio. Subject to the provisions of Section 6, upon conversion the Lender will be entitled to receive one share (“Conversion
Share”) of the $0.001 par value common stock of Maker (“Common Stock”) for each $0.50 of principal
and interest converted. Thus, the initial conversion price (“Conversion Price”) is $0.50 per Conversion Share.

(b)            Procedure for
Conversion. In order to convert pursuant to this Section 5, the Lender must deliver to Maker a duly completed and executed
Notice of Election to Convert in the form attached hereto as Schedule 1 (an “Election Notice”). Within five
(5) days after Maker’s receipt of the Election Notice, Maker will issue and deliver to the Lender a certificate for the
number of Conversion Shares issuable upon such conversion. Upon conversion of all principal and interest pursuant to this Section
5, and subject to the Lender’s receipt of the Conversion Shares, this Note will be deemed canceled.

(c)            Effective Date
of Conversion. Such conversion will be deemed to have been effected on the date the Conversion Shares are actually issued
(“Effective Date of Conversion”). The person(s) in whose name(s) any certificate for shares of Common Stock
will be issuable upon such conversion will be deemed to have become the holder(s) of record of the shares represented thereby
as of the Effective Date of Conversion.

(d)            Reservation
of Stock Issuable Upon Conversion. Maker shall at all times reserve and keep available out of its authorized but unissued
shares of Common Stock, solely for the purpose of effecting the conversion of this Note, such number of its shares of Common Stock
as shall from time to time be sufficient to effect the conversion of the outstanding principal and accrued interest under this
Note; and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion
of the outstanding principal and accrued interest under this Note, Maker will take such corporate action as may, in the opinion
of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall
be sufficient for such purpose.

(e)            Payment of
Taxes. Maker will pay all transfer taxes or charges that may be imposed with respect to the issue or delivery of shares of
Common Stock upon conversion of the outstanding principal and accrued interest under this Note. Notwithstanding the language in
this section, Maker shall not be responsible for any state or federal income tax liability associated with such transfers other
than those specifically contemplated by this Note.

6.            Adjustments
to Conversion Price and Number of Conversion Shares. The Conversion Price and the number of Conversion Shares issuable upon
conversion will be subject to adjustment from time to time as follows:

(a)            If the shares
of Common Stock at any time outstanding are subdivided into a greater number or combined into a lesser number of shares of Common
Stock or if shares of Common Stock are issued as a stock dividend, the Conversion Price and the number of Conversion Shares will
be decreased or increased, as the case may be, to an amount that will bear the same relation to the Conversion Price and the number
of Conversion Shares, respectively, in effect immediately prior to such subdivision or combination or stock dividend as the total
number of shares of Common Stock outstanding immediately prior to such subdivision or combination or stock dividend will bear to
the total number of shares of Common Stock outstanding immediately after such subdivision or combination or stock dividend.

    	2

    	 

    

(b)            In the event
of any capital reorganization, or of any reclassification of the Common Stock or in the event of the consolidation or merger of
Maker with any other corporation (including a merger in which Maker is not the continuing corporation or a reorganization whereby
the shareholders of Maker exchange their common shares for a controlling interest of the “acquiring” company) or of
the sale of the properties and assets of Maker as, or substantially as, an entirety to any other corporation, this Note will after
such capital reorganization, reclassification of Common Stock, consolidation, merger or sale be convertible, upon the terms and
conditions specified herein, into the number of shares of stock and warrants or other securities or property of Maker, or of the
corporation resulting from such consolidation or surviving such merger or reorganization or to which such sale will be made, as
the case may be, to which the Conversion Shares issuable (at the time of such capital reorganization, reclassification of Common
Stock, consolidation, merger, reorganization or sale) upon exercise of this Note would have been entitled upon such capital reorganization,
reclassification of Common Stock, consolidation, merger, reorganization or sale if such exercise had taken place; and in any such
case, if necessary, the provisions set forth in this Section 6 with respect to the rights and interests thereafter of the Lender
will be appropriately adjusted so as to be applicable, as nearly as may reasonably be, to any shares of stock or warrants or other
securities or property thereafter deliverable on the conversion of this Note. The subdivision or combination of shares of Common
Stock at any time outstanding into a greater or lesser number of shares of Common Stock will not be deemed to be a reclassification
of the Common Stock of Maker for the purposes of this Section 6(b).

(c)            Whenever there
is an adjustment in the Conversion Price as provided herein, Maker will promptly mail to the Lender, by first-class mail, postage
prepaid, with a notice stating that such adjustment has been effected and stating the Conversion Price then in effect and the number
of Conversion Shares issuable upon conversion as a result of such adjustment.

7.            Maker hereby
waives presentment, demand, notice of dishonor, protest, notice of protest and all other demands, protests and notices in connection
with the execution, delivery, performance, collection and enforcement of this Note.

8.            An event of
default under this Note shall occur upon Lender’s written notice to Maker that principal and interest due under this Note
has not been paid as and when due.

9.            This Note
is being delivered in, is intended to be performed in, shall be construed and interpreted in accordance with, and be governed by
the internal laws of, the State of Texas, without regard to principles of conflict of laws.

    	3

    	 

    

10.           This Note
may only be amended, modified or terminated by an agreement in writing signed by the party to be charged. This Note shall be binding
upon the successors and assigns of Maker and inure to the benefit of Lender and his permitted and assigns. This Note shall not
be transferred without the express written consent of Lender, provided that if Lender consents to any such transfer or if notwithstanding
the foregoing such a transfer occurs, then the provisions of this Note shall be binding upon any successor to Maker and shall inure
to the benefit of and be extended to any holder thereof.

WEST TEXAS RESOURCES, INC.

By: /s/ Stephen E. Jones

      Stephen E. Jones,

      Chief Executive
Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	4

    	 

    

 

SCHEDULE
1

NOTICE
OF ELECTION TO CONVERT

Date: _________________, 20___

To: WEST TEXAS RESOURCES, INC.:

The undersigned
hereby purchases _____________ shares of common stock issuable upon conversion of $___________ of indebtedness represented by the
original [Secured Convertible] Promissory Note dated ______________ in the Original Principal Amount of $________ issued in the
name of Gary Bryant in accordance with the terms thereof.

Issue and deliver certificate(s) for common stock to:

	 
	(Name)
	 
	(Taxpayer Identification Number)
	 
	(Street and Number)
	 	 
	(City)	(State)
	 
	Very truly yours,
	 
	(Signature of Holder of Note)

 

    	 

    	 

    

 

West Texas Resources, Inc.

5729 Lebanon Road, Suite 144

Frisco, Texas 75034

(940) 464-0601

 

January 10, 2014

 

 

Mr. Gary E. Bryant

980 Noble Champions Way

Bartonville, Texas 76226

 

Re:     Amendment to Secured Convertible Promissory Note

 

Dear Mr. Bryant:

We are writing with respect
to that certain Secured Convertible Promissory Note dated September 5, 2013 in the original principal amount of $130,000 made by
West Texas Resources, Inc., a Nevada corporation (“Maker”), in favor of Gary E. Bryant (“Lender”). All
capitalized terms used in this Letter Agreement which are not otherwise defined herein shall have the same meaning given to them
in the Note.

 

Maker and Lender have discussed
the merits of extending the present maturity date of the Note by 13 months. To that end, this will confirm our agreement to amend
the Note by providing that all references to the term “Maturity Date”, as set forth in the Note, shall mean January
6, 2015. This will also confirm that you are waiving any breach under the Note by Maker for not having made the required payments
under the Note as of or following the original due date of December 6, 2013.

 

If this Letter Agreement
appropriately reflects our agreement, please sign in the location provided below at which time this Letter Agreement will formally
amend the Note as provided herein. Except as provided herein, all other terms and conditions of the Note shall remain in effect
and unmodified by this Letter Agreement.

 

Very truly yours,

 

 

/s/ Stephen E. Jones

Stephen E. Jones,

Chief Executive Officer

 

ACKNOWLEDGED AND AGREED:

 

 

/s/ Gary E. Bryant

     Gary E. Bryant

 

    	2

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