Document:

Exhibit 10.1

 

AMERICAN
BRIVISION (HOLDING) CORPORATION

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made and entered into on October    ,
2019, by and between American BriVision (Holding) Corporation, a Nevada corporation (the “Company”),
and the investors set forth on the signature pages affixed hereto (each, an “Investor” and, collectively, the
“Investors”).

 

WHEREAS,
the Investors wish to purchase from the Company, and the Company wishes to sell and issue to the Investors, an aggregate of
a minimum of $250,000 (the “Minimum Offering Amount”) and a maximum of $2,000,000 (the “Maximum Offering
Amount”) of the Company’s convertible promissory notes in the form of Exhibit A attached hereto (each “Promissory
Note” and collectively the “Promissory Notes”) which are convertible into the Company’s Common
Stock, par value $.001 per share (“Common Stock”); and

 

WHEREAS,
unless terminated sooner by the Company, the offering and sales of the Notes shall terminate on the sooner to occur of the
raising of the Maximum Offering Amount or August 31, 2019 but such date may be extended by an additional 90 days in the Company’s
sole discretion;

 

NOW,
THEREFORE, in consideration of the mutual terms, conditions and other agreements set forth herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties
hereto hereby agree to the sale and purchase of the Notes as set forth herein.

 

1.
Definitions.

 

For
purposes of this Agreement, the terms set forth below shall have the corresponding meanings provided below.

 

“Affiliate”
shall mean, with respect to any specified Person (as defined below), (i) if such Person is an individual, the spouse, heirs, executors,
or legal representatives of such individual, or any trusts for the benefit of such individual or such individual’s spouse
and/or lineal descendants, or (ii) otherwise, another Person that directly, or indirectly through one or more intermediaries,
controls, is controlled by, or is under common control with, the Person specified. As used in this definition, “control”
shall mean the possession, directly or indirectly, of the sole and unilateral power to cause the direction of the management and
policies of a Person, whether through the ownership of voting securities or by contract or other written instrument.

 

“Business
Day” shall mean any day on which banks located in New York City are not required or authorized by law to remain closed.

 

“Closing”
and “Closing Date” as defined in Section 2.2(a) hereof.

 

“Common
Stock” as defined in the recitals above.

 

“Company
Financial Statements” as defined in Section 4.5(a) hereof.

 

“Company’s
Knowledge” means the actual knowledge of any executive officer (as defined in Rule 405 under the Securities Act) or
director of the Company, or the knowledge of any fact or matter which any person would reasonably be expected to become aware
of in the course of performing the duties and responsibilities as an executive officer or director of the Company.

 

“Conversion
Shares” means the shares of Common Stock issuable upon conversion of the Notes.

 

    1

     

    

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Liens”
means any mortgage, lien, title claim, assignment, encumbrance, security interest, adverse claim, contract of sale, restriction
on use or transfer or other defect of title of any kind.

 

“Material
Adverse Effect” means a material adverse effect on (i) the assets, liabilities, results of operations, condition (financial
or otherwise), business, or prospects of the Company and its Subsidiaries taken as a whole, (ii) the transactions contemplated
hereby or in any of the Transaction Documents or (iii) the ability of the Company to perform its obligations under the Transaction
Documents (as defined below).

 

“Person”
shall mean an individual, entity, corporation, partnership, association, limited liability company, limited liability partnership,
joint-stock company, trust or unincorporated organization.

 

“Purchase
Price” shall mean the amount of the Note being purchased by the Investor.

 

“Regulation
D” as defined in Section 3.7 hereof.

 

“Regulation
S” as defined in Section 6.1(i)(E) hereof.

 

“Rule
144” as defined in Section 6.1(i)(C) hereof.

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

“SEC
Documents” as defined in Section 4.5(a) hereof.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Subsidiaries”
shall mean any corporation or other entity or organization, whether incorporated or unincorporated, in which the Company owns,
directly or indirectly, a majority of the equity or other ownership interests or otherwise controls through contract or otherwise.

 

“Transaction
Documents” shall mean this Agreement and the Notes.

 

“Transaction
Securities” shall mean the Notes and Conversion Shares.

 

“Transfer”
shall mean any sale, transfer, assignment, conveyance, charge, pledge, mortgage, encumbrance, hypothecation, security interest
or other disposition, or to make or effect any of the above.

 

2.
Sale and Purchase of Promissory Notes.

 

2.1.
Subscription for Notes by Investors. Subject to the terms and conditions of this Agreement, including the sale of at least
the Minimum Offering Amount of Notes, on each of the respective Closing Dates (as hereinafter defined) each of the Investors shall
severally, and not jointly, purchase, and the Company shall sell and issue to the Investors, the Notes, in the respective amounts
set forth on the signature pages attached hereto in exchange for the Purchase Price.

 

2.2
Closings.

 

(a)
Closing. Subject to the terms and conditions set forth in this Agreement, the Company shall issue and sell to each Investor,
and each Investor shall, severally and not jointly, purchase from the Company on each of the respective Closing Dates, a Note
in the amount set forth on the signature pages attached hereto, which will be reflected opposite such Investor’s name on
Exhibit A-1 (the “Closing” ). The date of the Closing for each Investor is hereinafter referred to as
the “Closing Date.”

 

    2

     

    

 

(b)
Closing. One or more closings shall occur on the date and time agreed to with the each Investor purchasing a Note and shall
occur remotely via the exchange of documents and signatures and wire transfers.

 

2.3.
Closing Deliveries. At the Closing, the Company shall deliver to the Investors, against delivery by the Investor of the
Purchase Price (as provided below), a Note in the principal amount being purchased by such Investor, whereby subject to the terms
and conditions of the Note, such Investor may convert all or part of the Note at a conversion price (the “Conversion Price”)
equal to the lower of (i) $.50 per share (the “Fixed Conversion Price”), subject to adjustment as set forth below,
or (ii) 70% of the per share offering price (the “Alternative Conversion Price”) of the completed public equity offering
of the Company in an amount exceeding $10,000,000 as stated on the registration statement on a Form S-1 filed with the Securities
and Exchange Commission on November 14, 2018 (the “Public Offering”), as amended from time to time. At the Closing,
each Investor shall deliver or cause to be delivered to the Company a copy of this Agreement duly signed by such Investor, and
the Purchase Price set forth in its counterpart signature page annexed hereto by paying United States dollars in immediately available
funds, to be sent to the Company as instructed by the Company in writing.

 

2.4.
Broker Fees. If and when the Company uses a securities broker, it has agreed to pay to an individual or institutional broker
two percent (2%) of the proceeds of the sale of the Promissory Notes as brokerage fees for the investment in this offering introduced
solely with the efforts of such broker.

 

3.
Representations, Warranties and Acknowledgments of the Investors.

 

Each
Investor, severally and not jointly, represents and warrants to the Company solely as to such Investor that:

 

3.1
Authorization. The execution, delivery and performance by such Investor of the Transaction Documents to which such Investor
is a party have been duly authorized and will each constitute the valid and legally binding obligation of such Investor, enforceable
against such Investor in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally.

 

3.2
Purchase Entirely for Own Account. The Transaction Securities to be received by such Investor hereunder will be acquired
for such Investor’s own account, not as nominee or agent, and not with a view to the resale or distribution of any part
thereof in violation of the Securities Act, and such Investor has no present intention of selling, granting any participation
in, or otherwise distributing the same in violation of the Securities Act, without prejudice, however, to such Investor’s
right at all times to sell or otherwise dispose of all or any part of such Transaction Securities in compliance with applicable
federal and state securities laws. Nothing contained herein shall be deemed a representation or warranty by such Investor to hold
the Transaction Securities for any period of time. Such Investor is not a broker-dealer registered with the SEC under the Exchange
Act or an entity engaged in a business that would require it to be so registered.

 

3.3.
Investment Experience. Such Investor acknowledges that the purchase of the Transaction Securities is a highly speculative
investment and that it can bear the economic risk and complete loss of its investment in the Transaction Securities and has such
knowledge and experience in financial or business matters such that it is capable of evaluating the merits and risks of the investment
contemplated hereby.

 

    3

     

    

 

3.4
Disclosure of Information. Such Investor has had an opportunity to receive all information related to the Company and the
Transaction Securities requested by it and to ask questions of and receive answers from the Company regarding the Company, its
business and the terms and conditions of the offering of the Transaction Securities. Neither such inquiries nor any other due
diligence investigation conducted by such Investor shall modify, amend or affect such Investor’s right to rely on the Company’s
representations and warranties contained in this Agreement. Such Investor acknowledges that it has reviewed the SEC Documents
filed by the Company since January 1, 2017 through the date of this Agreement.

 

3.5
Restricted Securities. Such Investor understands that the Transaction Securities are characterized as “restricted
securities” under the U.S. federal securities laws since they are being acquired from the Company in a transaction not involving
a public offering and that under such laws and applicable regulations such securities may be resold without registration under
the Securities Act only in certain limited circumstances.

 

3.6
Legends. The Investor understands that, except as provided below, certificates evidencing the Transaction Securities will
bear the following or any similar legend:

 

(a)
“The securities represented hereby may not be transferred unless (i) such securities have been registered for sale pursuant
to the Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to an available exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act, or (iii) the Company has received an opinion of counsel reasonably
satisfactory to it that such transfer may lawfully be made without registration under the Securities Act of 1933 or qualification
under applicable state securities laws.”

 

(b)
If required by the authorities of any state in connection with the issuance of sale of the Transaction Securities, the legend
required by such state authority.

 

3.7
Accredited Investor. Such Investor is an accredited investor as defined in Rule 50l(a) of Regulation D, as amended, under
the Securities Act (“Regulation D”).

 

3.8
No General Solicitation. Such Investor did not learn of the investment in the Transaction Securities as a result of any
public advertising or general solicitation.

 

3.9
Brokers and Finders. No Investor will have, as a result of the transactions contemplated by the Transaction Documents,
any valid right, interest or claim against or upon the Company, any Subsidiary or any other Investor, for any commission, fee
or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of such Investor.

 

4.
Representations and Warranties of the Company.

 

The
Company represents, warrants and covenants to the Investors that:

 

4.1.
Organization: Execution, Delivery and Performance.

 

(a)
The Company and each of its Subsidiaries, if any, is a corporation or other entity duly organized, validly existing and in good
standing under the laws of the jurisdiction in which it is incorporated or organized, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction
in which its ownership or use of property or the nature of the business conducted by it makes such qualification necessary except
where the failure to be so qualified or in good standing would not have a Material Adverse Effect.

 

    4

     

    

 

(b)
(i) The Company has all requisite corporate power and authority to enter into and perform the Transaction Documents and to consummate
the transactions contemplated hereby and thereby and to issue the Transaction Securities, in accordance with the terms hereof
and thereof, (ii) the execution and delivery of the Transaction Documents by the Company and the consummation by the Company of
the transactions contemplated hereby and thereby (including without limitation, the issuance of the Transaction Securities) have
been duly authorized by the Company’s Board of Directors and no further consent or authorization of the Company, its Board
of Directors, or its stockholders, is required, (iii) each of the Transaction Documents has been duly executed and delivered by
the Company by its authorized representative, and such authorized representative is a true and official representative with authority
to sign each such document and the other documents or certificates executed in connection herewith and bind the Company accordingly,
and (iv) each of the Transaction Documents constitutes, and upon execution and delivery thereof by the Company will constitute,
a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except to the
extent limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting
enforcement of creditors’ rights and general principles of equity that restrict the availability of equitable or legal remedies.

 

4.2.
Securities Duly Authorized. The Transaction Securities to be issued to each Investor pursuant to this Agreement, when issued
and delivered in accordance with the terms of this Agreement, will be duly and validly issued and will be fully paid and nonassessable
and free from all taxes or Liens with respect to the issue thereof and shall not be subject to preemptive rights or other similar
rights of stockholders of the Company. Subject to the accuracy of the representations and warranties of the Investors party to
this Agreement, the offer and issuance by the Company of the Transaction Securities is exempt from registration under the Securities
Act.

 

4.3
No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby (including without limitation, the issuance of the Transaction
Securities) will not: (i) conflict with or result in a violation of any provision of the Company’s Certificate of incorporation
or By laws each as amended to date or (ii) violate or conflict with, or result in a breach of any provision of, or constitute
a default (or an event which with notice or lapse of time or both could become a default) under, or give to others any rights
of termination, amendment, acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to
which the Company or any of its Subsidiaries is a party or by which any property or asset of the Company or any of its Subsidiaries
is bound or affected or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal
and state securities laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities
are subject) applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its
Subsidiaries is bound or affected. Neither the Company nor any of its Subsidiaries is in violation of its Certificate of Incorporation,
By-laws or other organizational documents, each as amended to date. Neither the Company nor any of its Subsidiaries is in default
(and no event has occurred which with notice or lapse of time or both could put the Company or any of its Subsidiaries in default)
under, and neither the Company nor any of its Subsidiaries has taken any action or failed to take any action that would give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which
the Company or any of its Subsidiaries is a party or by which any property or assets of the Company or any of its Subsidiaries
is bound or affected, or for possible defaults as would not, individually or in the aggregate, have a Material Adverse Effect.
Except as required under the Securities Act, the Exchange Act and any applicable state securities laws, the Company is not required
to obtain any consent, authorization or order of, or make any filing or registration with, any court, governmental agency, regulatory
agency, self regulatory organization or stock market or any third party in order for it to execute, deliver or perform any of
its obligations under this Agreement or to issue and sell the Transaction Securities in accordance with the terms hereof.

 

    5

     

    

 

4.4.
Capitalization. As of May 6, 2019, the authorized capital stock of the Company consisted of 360,000,000 shares of common
stock, par value $0.001 per share and 318,485,252 shares of common stock were issued and outstanding. On May 3, 2019, the Company
filed an amendment to its articles of incorporation to effect a stock reverse split in the ratio of 1-for-18 of its issued and
outstanding common stock and authorized common stock and such reverse split shall become effective in the near future.

 

4.5.
SEC Information.

 

(a)
Since January 1, 2017, the Company has filed all reports, schedules, forms, statements and other documents required to be filed
by it with the SEC pursuant to the reporting requirements of the Exchange Act (all of the foregoing and all other documents filed
with the SEC prior to the date hereof and all exhibits included therein and financial statements and schedules thereto and documents
incorporated by reference therein, being hereinafter referred to herein as the “SEC Documents”). The SEC Documents
have been made available to the Investors via the SEC’s EDGAR system. As of their respective dates, the SEC Documents complied
in all material respects with the requirements of the Exchange Act and the rules and regulations of the SEC promulgated thereunder
applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading. As of their respective dates, the
financial statements of the Company included in the SEC Documents (“Company Financial Statements”) complied
as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC
with respect thereto. The Company Financial Statements have been prepared in accordance with United States generally accepted
accounting principles, consistently applied, during the periods involved (except (i) as may be otherwise indicated in such financial
statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes
or may be condensed or summary statements) and fairly present in all material respects the consolidated financial position of
the Company and its consolidated Subsidiaries as of the dates thereof and the consolidated results of their operations and cash
flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). Except
as set forth in the Company Financial Statements, the Company has no liabilities, contingent or otherwise, other than: (i) liabilities
incurred in the ordinary course of business subsequent to December 31, 2018 (the fiscal period end of the Company’s most
recently-filed periodic report), and (ii) obligations under contracts and commitments incurred in the ordinary course of business
and not required under generally accepted accounting principles to be reflected in such financial statements, which, individually
or in the aggregate, are not material to the financial condition or operating results of the Company.

 

(b)
The shares of Common Stock are currently quoted on the OTCQB tier of the OTC Markets Group. The Company has not received notice
(written or oral) from any regulatory body or the OTC Markets Group to the effect that the Company is not in compliance with the
continued quotation and maintenance requirements of such market.

 

4.6
Permits: Compliance. The Company and each of its Subsidiaries is in possession of all franchises, grants, authorizations,
licenses, permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and
operate its properties and to carry on its business as it is now being conducted (collectively, the “Company Permits”),
and there is no action pending or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of
the Company Permits. Neither the Company nor any of its Subsidiaries is in conflict with, or in default or violation of, any of
the Company Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect.

 

    6

     

    

 

4.7
Litigation. Except as set forth in the SEC Documents, to the Company’s knowledge there is no action, suit, claim,
proceeding, inquiry or investigation pending before or by any court, public board, government agency, self-regulatory organization
or body or, to the Company’s knowledge, threatened against or affecting the Company or any of its Subsidiaries, or their
respective businesses, properties or assets or their officers or directors in their capacity as such, that would have a Material
Adverse Effect.

 

4.8
No Material Changes.

 

Since
December 31, 2018, except as set forth in the SEC Documents, there has not been:

 

(i)
Any material adverse change in the financial condition, operations or business of the Company from that shown on the Company Financial
Statements, or any material transaction or commitment effected or entered into by the Company outside of the ordinary course of
business;

 

(ii)
Any effect, change or circumstance which has had, or could reasonably be expected to have, a Material Adverse Effect; or

 

(iii)
Any incurrence of any material liability outside of the ordinary course of business.

 

4.9 No
General Solicitation. Neither the Company nor any person participating on the Company’s behalf in the
transactions contemplated hereby has conducted any “general solicitation,” as such term is defined in Regulation
D promulgated under the Securities Act, with respect to any of the Transaction Securities being offered hereby.

 

4.10 No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf,
has directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances
that would require registration under the Securities Act of the issuance of the Transaction Securities to the Investors. The issuance
of the Transaction Securities to the Investors will not be integrated with any other issuance of the Company’s securities
(past, current or future) for purposes of any stockholder approval provisions applicable to the Company or its securities or the
Securities Act.

 

4.11
Brokers and Finders. Except as disclosed in Section 2.4, the Company has engaged no brokers or finders to facilitate the
transactions contemplated herein and no investor will be responsible for any commission, fees or other compensations pursuant
to any agreement, arrangement or understanding entered into by or on behalf of the Company.

 

5.
Reserved.

 

    7

     

    

 

6. Transfer Restrictions.

 

6.1. Transfer or Resale. Each Investor understands that:

 

(i) the sale or resale of all or any portion
of the Transaction Securities have not been and is not being registered under the Securities Act or any applicable state securities
laws, and all or any portion of the Transaction Securities may not be transferred unless:

 

(A) the Transaction Securities are sold
pursuant to an effective registration statement under the Securities Act;

 

(B) the Investor shall have delivered to
the Company, at the cost of the Company, a customary opinion of counsel that shall be in form, substance and scope reasonably acceptable
to the Company, to the effect that the Transaction Securities to be sold or transferred may be sold or transferred pursuant to
an exemption from such registration;

 

(C) the Transaction Securities are sold
or transferred to an “affiliate” (as defined in Rule 144 promulgated under the Securities Act, or a successor rule,
(“Rule 144”)) of the Investor who agrees to sell or otherwise transfer the Transaction Securities only in accordance
with this Section 6.1 and who is an Accredited Investor;

 

(D) the Transaction Securities are sold pursuant to Rule 144;
or

 

(E) the Transaction Securities are sold
pursuant to Regulation S under the Securities Act (or a successor rule) (“Regulation S”);

 

and, in each of (D) and (E), the Investor
shall have delivered to the Company a customary opinion of counsel, in form, substance and scope reasonably acceptable to the Company.
Notwithstanding the foregoing or anything else contained herein to the contrary, the Transaction Securities may be pledged as collateral
in connection with a bona fide margin account or other lending arrangement.

 

6.2 Transfer Agent Instructions.
If an Investor provides the Company with a customary opinion of counsel, that shall be in form, substance and scope reasonably
acceptable to such counsel, to the effect that a public sale or transfer of such Transaction Securities may be made without registration
under the Securities Act and such sale or transfer is effected, the Company shall permit the transfer and promptly instruct its
transfer agent to issue one or more certificates, free from restrictive legend (if permitted by law), in such name and in such
denominations as specified by such Investor. The Company acknowledges that a breach by it of its obligations hereunder will cause
irreparable harm to the Investors, by vitiating the intent and purpose of the transactions contemplated hereby. Accordingly,
the Company acknowledges that the remedy at law for a breach of its obligations under this Section 6.2 may be inadequate and agrees,
in the event of a breach or threatened breach by the Company of the provisions of this Section, that the Investors shall be entitled,
in addition to all other available remedies, to an injunction restraining any breach and requiring immediate transfer, without
the necessity of showing economic loss and without any bond or other security being required.

 

7. Conditions to Closing of the Investors.

 

The obligation of each Investor hereunder
to purchase the Notes at the Closing is subject to the satisfaction, at or before the respective Closing Dates, of each of the
following conditions, provided that these conditions are for each Investor’s sole benefit and may be waived by such Investor
at any time in its sole discretion by providing the Company with prior written notice thereof:

 

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

 

    8

     

    

 

7.2. Consents. The Company shall
have obtained all governmental, regulatory or third party consents and approvals, if any, necessary for the sale of the Notes and
Transaction Securities.

 

7.3. Delivery by Company. The Company
shall have duly executed and delivered to such Investor (A) each of the other Transaction Documents such Investor is party to and
(B) copies by fax or e-mail of the Notes being purchased by such Investor pursuant to this Agreement as is set forth on the signature
page.

 

7.4. No Material Adverse Effect.
Since the date of first execution of this Agreement, no event or series of events shall have occurred that reasonably would have
or result in a Material Adverse Effect.

 

7.5. No Prohibition. No statute,
rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any
court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated
by the Transaction Documents.

 

7.6. Other Documents. The Company
shall have delivered to such Investor such other documents, instruments or certificates relating to the transactions contemplated
by this Agreement as such Investor or its counsel may reasonably request.

 

8. Conditions to Closing of the Company.

 

The obligations of the Company to effect the transactions contemplated
by this Agreement with each Investor are subject to the fulfillment at or prior to the Closing Date of the conditions listed below.

 

8.1. Representations and Warranties.
The representations and warranties made by such Investor in Section 3 shall be true and correct in all material respects at the
time of such Closing as if made on and as of such date.

 

8.2. Corporate Proceedings. All
corporate and other proceedings required to be undertaken by such Investor in connection with the transactions contemplated hereby
shall have occurred and all documents and instruments incident to such proceedings shall be reasonably satisfactory in substance
and form to the Company.

 

8.3. Investor Deliveries. The Company
will have received the deliveries of the Investors set forth in Section 2.3.

 

9. Miscellaneous.

 

9.1. Notices. All notices, requests,
demands and other communications provided in connection with this Agreement shall be in writing and shall be deemed to have been
duly given at the time when hand delivered, delivered by express courier, or sent by facsimile (with receipt confirmed by the sender’s
transmitting device) in accordance with the contact information provided below or such other contact information as the parties
may have duly provided by notice.

 

    9

     

    

 

The Company:

 

	American Brivision (Holding)	With a copy to:	Sichenzia Ross Ference LLP
	Corporation	 	1185 Avenue of the Americans, 37th
	44370 Old Warm Springs Blvd.	 	Floor
	Fremont, CA 94538	 	New York, New York 10036
	Tel: (845) 291-1291	 	Telephone: 212-930-9700
	 	 	Facsimile: 212-930-9275
	 	 	Attention: Jay Kaplowitz, Esq.

 

The Investors:

 

As per the contact information provided on the signature pages
hereof.

 

9.2. Survival
of Representations and Warranties. Each party hereto covenants and agrees that the representations and warranties of such
party contained in this Agreement shall survive the Closing. Each Investor shall be responsible only for its own
representations, warranties, agreements and covenants hereunder.

 

9.3. Reserved.

 

9.4. Entire Agreement. This Agreement
contains the entire agreement between the parties hereto in respect of the subject matter contained herein and supersedes all prior
agreements and understandings of the parties, oral and written, with respect to the subject matter contained herein.

 

9.5. Underlying Shares. The Company
agrees at all times as long as the Notes may be converted or exercised, to keep reserved from the authorized and unissued Common
Stock, such number of shares of Common Stock as may be issuable upon conversion of the Notes.

 

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

 

9.7. Current Public Information.
For a minimum of two years from the date of the Closing, if the Investors, still any Notes, the Company shall use its reasonable
best efforts to: (i) make and keep public information available, as those terms are understood and defined in Rule 144 under
the Securities Act, at all times; (ii) file with the SEC in a timely manner all reports and other documents required of the Company
under the Exchange Act.

 

9.8. Successors and Assigns. This
Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither the Company nor
any Investor shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other.
Notwithstanding the foregoing, but subject to the provisions of Section 6.1 hereof, any Investor may, without the consent of the
Company or any other Investor, assign its rights hereunder to any person that purchases Transaction Securities in a private transaction
from an Investor or to any of its “affiliates,” as that term is defined under the Exchange Act.

 

9.9. Public Disclosures.
The Company shall on or before 5:30 p.m., New York time, with in four (4) Business Days after the date of the first Closing, file
a Current Report on Form 8-K describing all the material terms of the transactions contemplated by the Transaction Documents in
the form required by the Exchange Act and attaching all the material Transaction Documents that are required to be filed pursuant
to those requirements, (which may include, without limitation, this Agreement and any schedules or attachments to this Agreement)
(including any exhibits, the “8-K Filing”). From and after the filing of the 8-K Filing, the Company shall
have disclosed all material, non-public information (if any) delivered to any of the Investors by the Company in connection with
the transactions contemplated by the Transaction Documents. The Company shall be entitled, without the prior approval of any Investor,
to make any press release or other public disclosure with respect to such transactions (i) in substantial conformity with the
8-K Filing and contemporaneously therewith and (ii) as is required by applicable law and regulations.

 

    10

     

    

 

9.10. Binding Effect; Benefits.
This Agreement and all the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns; nothing in this Agreement, expressed or implied, is intended to confer on any persons other than
the parties hereto or their respective successors and permitted assigns, any rights, remedies, obligations or liabilities under
or by reason of this Agreement.

 

9.11. Amendment; Waivers. All modifications,
amendments or waivers to this Agreement shall require the written consent of both the Company and the holders of the majority of
the then-outstanding Notes.

 

9.12. Applicable Law: Disputes.
This Agreement and the Notes shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to its principles regarding conflicts of law. Each party agrees that all legal proceedings concerning the interpretation,
enforcement and defense of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto
or its respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal
courts sitting in the City of New York, Borough of Manhattan (the “New York Courts”). Each party hereto hereby
irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the
Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of such New York Courts, or such New York Courts are improper or inconvenient
venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence
of delivery) to such party at the address in effect for notices to it under this Agreement or the Notes 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 applicable law. Each party hereto hereby irrevocably waives,
to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this Agreement or the Notes or the transactions contemplated hereby. If any party shall commence an action or proceeding
to enforce any provisions of this Agreement or the Notes, then the prevailing party in such action or proceeding shall be reimbursed
by the other party for its attorney’s fees and other costs and expenses incurred in the investigation, preparation and prosecution
of such action or proceeding.

 

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

 

9.14. Counterparts. This Agreement
may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which taken together
shall constitute one and the same instrument. This Agreement may also be executed via facsimile, which shall be deemed an original.

 

    11

     

    

 

9.15. Independent Nature of Investors.
The obligations of each Investor under this Agreement or other transaction document are several and not joint with the obligations
of any other Investor, and no Investor shall be responsible in any way for the performance of the obligations of any other Investor
under this Agreement or any other transaction document. Each Investor shall be responsible only for its own representations, warranties,
agreements and covenants hereunder. The decision of each Investor to purchase the Notes pursuant to this Agreement has been made
by such Investor independently of any other Investor and independently of any information, materials, statements or opinions as
to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise)
or prospects of the Company which may have been made or given by any other Investor or by any agent or employee of any other Investor,
and no Investor or any of its agents or employees shall have any liability to any other Investor (or any other person) relating
to or arising from any such information, materials, statements or opinions. Nothing contained herein or in any other transaction
document, and no action taken by any Investor pursuant hereto or thereto, shall be deemed to constitute the Investors as a partnership,
an association, a joint venture or any other kind of entity, or create a presumption that the Investors are in any way acting
in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement. Except as otherwise
provided in this Agreement or any other transaction document, each Investor shall be entitled to independently protect and enforce
its rights arising out of this Agreement or out of the other transaction documents, and it shall not be necessary for any
other Investor to be joined as an additional party in any proceeding for such purpose. Each Investor has been represented by its
own separate legal counsel in connection with the transactions contemplated hereby.

 

[SIGNATURE PAGES IMMEDIATELY FOLLOW]

 

    12

     

    

 

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

 

	 	AMERICAN BRIVISION (HOLDING) CORPORATION
	 	 	 
	 	By:	/s/ Howard Doong
	 	Name: 	HOWARD DOONG
	 	Title:	CEO
	 	 	 
	 	INVESTORS:

 

The Investors executing the Signature Page
in the form attached hereto as Annex A and delivering the same to the Company or its agents shall be deemed to have executed
this Agreement and agreed to the terms hereof.

 

    13

     

    

 

Annex A

 

Securities Purchase Agreement

Investor Counterpart Signature
Page

 

The undersigned, desiring to: (i)
enter into this Securities Purchase Agreement dated as of May _, 2019 (the “Agreement”), with the
undersigned, American BriVision (Holding) Corporation, a Nevada corporation (the “Company”), in or
substantially in the form furnished to the undersigned and (ii) purchase the Convertible Promissory Notes as set forth below,
hereby agrees to purchase such Notes from the Company as of the Closing and further agrees to join the Agreement as a party
thereto, with all the rights and privileges appertaining thereto, and to be bound in all respects by the terms and conditions
thereof. The undersigned specifically acknowledges having read the representations in the Agreement section entitled
“Representations, Warranties and Acknowledgments of the Investors,” and hereby represents that the statements
contained therein are complete and accurate with respect to the undersigned as an Investor.

 

	 	Name of Investor:
	 	 
	 	If an entity:
	 	 
	 	Print Name of Entity:
	 	 
	 	 
	 	 	 
	 	By:	
	 	 	Name: 	Hwalin Lee
	 	 	Title: 	President

 

	 	If an individual:
	 	 	 
	 	Print Name:	 
	 	 	 
	 	Signature:	 
	 	 	 
	 	If joint individuals:
	 	 	 
	 	Print Name: 	 
	 	 	 
	 	Signature: 	 

 

    14

     

    

 

Exhibit A-1

 

Closing held on
May_, 2019

 

Schedule of Investors

 

	Investor	 	Amount
    of Promissory Note	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	CLOSING TOTAL	 	 	 	 

 

    15

     

    

 

EXHIBIT A

FORM OF CONVERTIBLE PROMISSORY NOTE

 

 

16Exhibit 10.2

 

AMERICAN BRIVISION (HOLDING) CORPORATION

 

Promissory
Note

 

	Principal Amount: U.S. Dollars	Issuance Date: Oct. 29, 2019

 

FOR VALUE
RECEIVED, American BriVision (Holding) Corporation, a Nevada corporation (the “Company”), hereby
promises to pay to the order of  its registered assigns (“Holder”) the amount set out
above as the Principal Amount (the “Principal”) when due, whether upon the Maturity Date (as defined
below) or earlier in accordance with the terms hereof, and to pay interest (“Interest”) on any outstanding
Principal at the applicable Interest Rate (as defined below) from the date set out above as the Issuance Date (the
“Issuance Date”) until the same becomes due and payable, whether upon the Maturity Date, acceleration or
otherwise (in each case in accordance
with the terms hereof). This Promissory Note, including all Promissory Notes issued in exchange, transfer or replacement
hereof, is referred to as this “Note”. Certain capitalized terms used herein are defined in Section
20.

 

1.
PAYMENTS OF PRINCIPAL. Subject to the conversion of the Note as described in
Section 5, the Company shall pay to the Holder an amount in cash representing all outstanding Principal and accrued and
unpaid Interest on [Oct 28], 2020, the twelve (12) month anniversary of the Issuance Date (the “Maturity Date”).

 

2. INTEREST; INTEREST
RATE. Interest shall accrue on the unpaid principal balance of this Note at
the rate of twenty percent (20%) per annum (the “Interest Rate”). Interest shall be
calculated from and include the Issuance Date and shall be calculated on an actual/360-day basis and payable on the Maturity
Date.

 

3. RIGHTS UPON
EVENT OF DEFAULT.

 

(a) Event
of Default. Each of the following events shall constitute an “Event of Default”:

 

(i) the Company’s failure to pay
to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note or any other Transaction Document
or any other agreement, document, certificate or other instrument delivered in connection with the transactions contemplated hereby
and thereby, except, in the case of a failure to pay Interest when and as due, in which case only if such failure remains uncured
for a period of at least five (5) days from the date when a written notice regarding the failure to pay Interest is given by the
Holder of the Note;

 

(ii) bankruptcy, insolvency, reorganization
or liquidation proceedings or other proceedings for the relief of debtors shall be instituted by or against the by a third party,
shall not be dismissed within thirty (30) days of their initiation;

 

(iii) the
commencement by the Company of a voluntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency,
reorganization or other similar law or of any other case or proceeding to be
adjudicated as bankrupt or insolvent, or the consent by it to the entry of a decree, order, judgment or other similar document
in respect of the Company in an involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency,
reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief under any applicable federal, state or foreign
law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of their properties,
or the making by it of an assignment for the benefit of creditors, or the execution of a composition of debts, or the occurrence
of any other similar federal, state or foreign proceeding, or the admission by it in writing of its inability in writing of its
inability to pay its debts generally as they become due, the taking of corporate action by the Company in furtherance of any such
action or the taking of any action by any Person to commence a UCC foreclosure sale or any other similar action under federal,
state or foreign law;

 

    1

     

    

 

(iv) the entry by a court of (i) a decree,
order, judgment or other similar document in respect of the Company of a voluntary or involuntary case or proceeding under any
applicable federal, state or foreign bankruptcy, insolvency, reorganization or other similar law or (ii) a decree, order, judgment
or other similar document adjudging the as bankrupt or insolvent, or approving as properly filed a petition seeking liquidation,
reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable federal, state or foreign
law or (iii) a decree, order, judgment or other similar document appointing a custodian, receiver, liquidator, assignee, trustee,
sequestrator or other similar official of the Company or of any substantial part of their property, or ordering the winding up
or liquidation of its affairs, and the continuance of any such decree, order, judgment or other similar document or any such other
decree, order, judgment or other similar document unstayed and in effect for a period of thirty (30) consecutive days;

 

(v) other than as specifically set forth
in another clause of this Section 3(a), the Company breaches any representation, warranty, covenant or other term or condition
of any Transaction Document, except, in the case of a breach of a covenant or other term or condition that is curable, only if
such breach remains uncured for a period of five (5) consecutive Business Days from the date when a written notice of such breach
is provided;

 

(b) Notice of an Event of Default.
As soon as possible and in any event within seven (7) days after the Company becomes aware that an Event of Default has occurred
and has not been cured, the Company shall notify the Holder in writing of the nature, extent and time of and the facts surrounding
such Event of Default, and the action, if any, that the Company proposes to take with respect to such Event of Default.

 

(c) Acceleration of Maturity Date.
Upon the occurrence of an Event of Default, the entire unpaid and outstanding Principal plus any accrued and unpaid Interest shall
be immediately due and payable.

 

4. NONCIRCUMVENTION. The Company
hereby covenants and agrees that the Company will not, by amendment of its Certificate of Incorporation, or through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms of this Note, and will at all times in good faith
carry out all of the provisions of this Note and take all action as may be required to protect the rights of the Holder of this
Note.

 

5. PREPAYMENT;
CONVERSION.

 

(a) Voluntary Prepayment. The Company
may prepay the outstanding Principal and accrued but unpaid interest of this Note at any time, in whole or in part, without penalty
or prepayment.

 

(b) Conversion.
At any time during the Conversion Period as defined below, the Holder may convert the unpaid and outstanding Principal plus any
accrued and unpaid Interest into shares of the Company’s common stock at a conversion price (the “Conversion Price”)
equal to the lower of (i) $.50 per share (the “ Fixed Conversion
Price”), subject to adjustment as set forth below, or (ii) 70% of the per share offering price (the “Alternative Conversion
Price”) of the completed public equity offering of the Company in an amount exceeding $10,000,000 as stated on the registration
statement on a Form S-1 filed with the Securities and Exchange Commission on November 14, 2018 (the “Public Offering”),
as amended from time to time. The Conversion Period shall commence on the Issuance Date and end on the Maturity Date of this Note.

 

    2

     

    

 

(c) Mechanics of Conversion.

 

i. Conversion Shares Issuable Upon Conversion.
The number of shares issuable upon a conversion (the “Conversion Shares”) pursuant to Section 5(b) hereunder
shall be determined by the quotient obtained by dividing the outstanding principal amount of this Note and accrued but unpaid interest
thereon to be converted by (y) the Conversion Price.

 

ii. Delivery of Certificate Upon Conversion.
Not later than seven (7) Business Days after each conversion date (the “Share Delivery Date”), the Company
shall deliver, or cause to be delivered, to the Holder a certificate or certificates representing the Conversion Shares being acquired
upon the conversion of this Note, in whole or in part.

 

iii.
Fractional Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion
of this Note. As to any fraction of a share which the Holder would otherwise be entitled to receive upon such conversion, the
Company shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Conversion Price or round up to the next whole share.

 

(d) Certain Adjustments.

 

i. Stock Dividends and Stock Splits.
If the Company, at any time while this Note is outstanding: (i) subdivides
outstanding shares of common stock into a larger number of shares, (ii) combines (including by way of a reverse stock split) outstanding
shares of common stock into a smaller number of shares or (iii) issues, in the event of a reclassification of shares of the common
stock, any shares of capital stock of the Company, then the Fixed Conversion Price shall be multiplied by a fraction of which
the numerator shall be the number of shares of common stock (excluding any treasury shares of the Company) outstanding immediately
before such event, and of which the denominator shall be the number of shares of common stock outstanding immediately after such
event. Any adjustment made pursuant to this Section shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date
in the case of a subdivision, combination or re-classification.

 

ii. Subsequent Rights Offerings.
In addition to any adjustments pursuant to Section 5(d)(i) above, if at any time while the Note is outstanding the Company grants,
issues or sells any common stock equivalents or rights to purchase stock, warrants, securities or other property pro rata to the
record holders of any class of shares of common stock (the “Purchase Rights”), then the Holder will be
entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have
acquired if the Holder had held the number of shares of common stock acquirable upon complete conversion of this Note (without
regard to any limitations on exercise hereof) immediately before the date on which a record is taken for the grant, issuance or
sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock
are to be determined for the grant, issue or sale of such Purchase Rights.

 

iii. Pro
Rata Distributions. During such time as this Note is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of common stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, property or options by way of a dividend, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at
any time after the issuance of this Note, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of common stock
acquirable upon complete exercise of this Note (without regard to any limitations on exercise hereof) immediately before the date
of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the participation in such Distribution.

 

    3

     

    

 

iv. Calculations. All calculations
under this Section 5(d) shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of
this Section 5(d), the number of shares of common stock deemed to be issued and outstanding as of a given date shall be the sum
of the number of shares of common stock (excluding any treasury shares of Borrower) issued and outstanding.

 

v. Notice of Adjustment to Conversion
Price. Whenever the Fixed Conversion Price is adjusted pursuant to any provision of this Section, the Company shall promptly
deliver to each Holder a notice setting forth the Fixed Conversion Price with three (3) Business Days after such adjustment and
setting forth a brief statement of the facts requiring such adjustment. Failure to provide such notice shall constitute an Event
of Default, subject to be a three (3) Business Days’ curing period.

 

6. COVENANTS. Until so long as no
Principal or accrued but unpaid interest remains outstanding:

 

(a) Preservation of Existence. The
Company shall maintain and preserve its existence, rights and privileges, and become or remain duly qualified and in good standing
in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction of its business
makes such qualification necessary .

 

(b) Use of Proceeds. The proceeds
from this Note will be used for legal, accounting, due diligence and other costs and expenses incurred in connection with the proposed
Public Offering as disclosed in the Company’s filings with the Securities and Exchange Commission, Nasdaq application and
for general working capital purposes.

 

(c) Repayment and Priority. In the
event that the Company completes the Public Offering with gross proceeds exceeding $10,000,000, the Holder of this Note has the
option to either convert all or part of the Note, including the principal and the accrued but unpaid interest, or hold the Note
until the Maturity Date for repayment. Subject to the claims and rights of the existing creditors of the Company and its subsidiaries,
the Holder’s right to repayment of the Note shall enjoy the first priority among the unsecured creditors and all the unsecured
creditors’ rights to repayment against the Company shall be subordinated to the right of the Holder of this Note. Holders
of the Note of the same terms except the principal amount shall have the same priority with respect to the right to payment against
the Company. For purposes of this Section, a sale of a convertible note or like instrument is not considered part of the Public
Offering.

 

    4

     

    

 

7. Conversion Limitation.
The Company shall not effect any conversion of this Note, and a Holder shall not have the right to convert any portion of this
Note, to the extent that after giving effect to the conversion set forth on the applicable Notice of Conversion, the Holder (together
with the Holder’s Affiliates, and any Persons acting as a group together with the Holder or any of the Holder’s Affiliates)
would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence,
the number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of
Common Stock issuable upon conversion of this Note with respect to which such determination is being made, but shall exclude the
number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted principal amount of this
Note beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation contained
herein beneficially owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for purposes
of this Section, beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder. To the extent that the limitation contained in this Section applies, the determination of
whether this Note is convertible (in relation to other securities owned by the Holder together with any Affiliates) and of which
principal amount of this Note is convertible shall be in the sole discretion of the Holder, and the submission of a Notice of
Conversion shall be deemed to be the Holder’s determination of whether this Note may be converted (in relation to other
securities owned by the Holder together with any Affiliates) and which principal amount of this Note is convertible, in each case
subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent
to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set
forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition,
a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange
Act and the rules and regulations promulgated thereunder. For purposes of this Section, in determining the number of outstanding
shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of
the following: (i) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (ii)
a more recent public announcement by the Company, or (iii) a more recent written notice by the Company or the Company’s
transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the
Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.
In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Company, including this Note, by the Holder or its Affiliates since the date as of which such number of outstanding
shares of Common Stock was reported. The “Beneficial Ownership Limitation”; shall be 4.99% of the number of
shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon
conversion of this Note held by the Holder. The Holder, upon not less than 61
days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this
Section, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of this Note held by the
Holder and the Beneficial Ownership Limitation provisions of this Section shall continue to apply. Any such increase or decrease
will not be effective until the 61st day after such notice
is delivered to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section to correct this paragraph (or any portion hereof)
which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or
supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall
apply to a successor holder of this Note.

 

8. AMENDING THE TERMS OF THIS
NOTE. The prior written consent of the Holder shall be required for any change or amendment to this Note.

 

9. TRANSFER. This Note may be offered, sold, assigned
or transferred by the Holder with the written consent of the Company, which such consent shall not be unreasonably withheld.

 

10. REISSUANCE OF THIS NOTE.

 

(a) Transfer. If this Note is to
be transferred, the Holder shall surrender this Note to the Company, whereupon the Company will forthwith issue and deliver upon
the order of the Holder a new Note (in accordance with Section 10(d)), registered as the Holder may request, representing the outstanding
Principal being transferred by the Holder and, if less than the entire outstanding Principal is being transferred, a new Note (in
accordance with Section 10(d)) to the Holder representing the outstanding Principal not being transferred. The Holder and any assignee,
by acceptance of this Note, acknowledge and agree that, by reason of prepayment of any portion of this Note, the outstanding Principal
represented by this Note may be less than the Principal stated on the face of this Note.

 

(b) Lost,
Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Note (as to which a written certification and the indemnification contemplated below shall suffice
as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company
in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company shall
execute and deliver to the Holder a new Note (in accordance with Section 10(d)) representing the outstanding Principal.

 

    5

     

    

 

(c) Note
Exchangeable for Different Denominations. This Note is exchangeable, upon the surrender hereof by the Holder at the
principal office of the Company, for a new Note or Notes (in accordance
with Section 10(d) and in principal amounts of at least $1,000) representing in the aggregate the outstanding Principal of
this Note, and each such new Note will represent such portion of such outstanding Principal as is designated by the Holder at
the time of such surrender.

 

(d) Issuance of New Notes. Whenever
the Company is required to issue a new Note pursuant to the terms of this Note, such new Note (i)
shall be of like tenor with this Note, (ii) shall represent, as indicated on the face of such new Note, the Principal remaining
outstanding (or in the case of a new Note being issued pursuant to Section 10(a) or Section 10(c), the Principal designated by
the Holder which, when added to the principal represented by the other new Notes issued in connection with such issuance, does
not exceed the Principal remaining outstanding under this Note immediately prior to such issuance of new Notes), (iii) shall have
an issuance date, as indicated on the face of such new Note, which is the same as the Issuance Date of this Note, (iv) shall have
the same rights and conditions as this Note, and (v) shall represent accrued and unpaid Interest, from the Issuance Date.

 

11.
REMEDIES. CHARACTERIZATIONS. OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Note
shall be cumulative and in addition to all other remedies available under this Note and any of the other Transaction Documents
at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit
the Holder’s right to pursue actual and consequential damages for any failure by the Company to comply with the terms of
this Note.

 

12.
Reserved.

 

13. CONSTRUCTION; HEADINGS. This
Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as the drafter
hereof. The headings of this Note are for convenience of reference and shall not form part of, or affect the interpretation of,
this Note . Terms used in this Note but defined in the other Transaction Documents shall have the meanings ascribed to such terms
on the Closing Date in such other Transaction Documents unless otherwise consented to in writing by the Holder.

 

14. 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 privilege. No waiver shall be effective unless it is in writing and
signed by an authorized representative of the waiving party.

 

15. NOTICES; CURRENCY; PAYMENTS.

 

(a) Notices. Any notice or other
communication required or permitted to be given hereunder shall be in writing sent by mail, facsimile with printed confirmation,
nationally recognized overnight carrier or personal delivery and shall be effective upon actual receipt of such notice, to the
following addresses until notice is received that any such address or contact information has been changed:

 

	To the Company:	American Brivision (Holding) Corporation,
	 	44370 Old Warm Springs Blvd. 
	 	Fremont, CA 94538
	 	 
	With another copy	 
	(which shall not constitute Notice)
    to:	Jay Kaplowitz, Esq.
	 	 
	 	Sichenzia Ross Ference LLP
	 	1185 Avenue of the Americas, 37th
    Floor 
	 	New York, NY 10036
	 	Facsimile: 212-930-9725

 

    6

     

    

 

To Holder:

 

(b) Currency. All dollar amounts
referred to in this Note are in United States Dollars (“U.S. Dollars”), and all amounts
owing under this Note shall be paid in U.S. Dollars. All amounts denominated in other currencies (if any) shall be converted in
the U.S. Dollar equivalent amount in accordance with the Exchange Rate on the date of calculation (each, a “US
Dollar Equivalent”). “Exchange Rate” means, in relation to any amount of currency to be converted
into U.S. Dollars pursuant to this Note, the U.S. Dollar exchange rate as published in the Wall Street Journal on the relevant
date of calculation (it being understood and agreed that where an amount is calculated with reference to, or over, a period of
time, the date of calculation shall be the final date of such period of time).

 

(c) Payments. Whenever any payment
of cash is to be made by the Company to any Person pursuant to this Note, unless otherwise expressly set forth herein, such payment
shall be made in lawful money of the United States of America by a certified check drawn on the account of the Company and sent
via overnight courier service to such Person at such address as previously provided to the Company in writing (which address, in
the case of each of the Purchasers, shall initially be as set forth in the Securities Purchase Agreement), provided that the Holder
may elect to receive a payment of cash via wire transfer of immediately available funds by providing the Company with prior written
notice setting out such request and the Holder’s wire transfer instructions. Whenever any amount expressed to be due by the
terms of this Note is due on any day which is not a Business Day, the same shall instead be due on the next succeeding day which
is a Business Day.

 

16. CANCELLATION. After all Principal,
accrued Interest, and other amounts at any time owed on this Note have been paid in full or converted in
full, this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation and shall not
be reissued.

 

17. WAIVER OF NOTICE. To the extent
permitted by law, the Company hereby irrevocably waives demand, notice, presentment, protest and all other demands and notices
in connection with the delivery, acceptance, performance, default or enforcement of this Note.

 

18. GOVERNING LAW. This Note shall
be governed by and construed in accordance with the laws of the
State of New York, without giving effect to its principles regarding conflicts of law. Each party agrees that all legal proceedings
concerning the interpretation, enforcement and defense of the transactions contemplated by any of the Transaction Documents (whether
brought against a party hereto or its respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced
in the state and federal courts sitting in the City of New York, Borough of Manhattan).

 

19. MAXIMUM PAYMENTS. Nothing contained
herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of the maximum permitted
by applicable law. In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted
by such Jaw, any payments in excess of such maximum shall be credited against amounts owed by the Company to the Holder and thus
refunded to the Company.

 

    7

     

    

 

20. CERTAIN DEFINITIONS. For purposes of this Note, the
following terms shall have the following meanings:

 

(a) “Affiliate” means
any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

(b) “Business Day” means
any day other than Saturday, Sunday or other day on which commercial banks in
The City of New York are authorized or required by law to remain closed.

 

(c) “Maturity Date”
shall mean the twelve (12) months anniversary after the Issuance Date.

 

(d) “Person” means “person”
as such term is used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended, including any individual,
corporation, limited liability company, partnership, trust, unincorporated organization, government or any agency or political
subdivision thereof, or any other entity or any group of persons.

 

(e) “Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

(d)
“Transaction Documents” means, collectively, the Notes, the Securities Purchase Agreement and any other
agreements and instruments entered into or delivered by any of the parties hereto in connection with the transactions contemplated
hereby and thereby, as may be amended from time to time.

 

[signature page follows]

 

    8

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Note to be duly executed as of the Issuance Date set out above.

 

	 	American BriVision (Holding) Corporation
	 	 
	 	By:	 
	 	Name: 	HOWARD DOONG
	 	Title:	CEO

 

 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}]]