Document:

SECURITIES PURCHASE AGREEMENT

 

THIS SECURITIES
PURCHASE AGREEMENT (this “Agreement”), is made effective as of MAY 15, 2013 (the “Effective
Date”), by and among [                  ]
(“Buyer”) and PREMIER BEVERAGE GROUP, CORP. (“Company”). Capitalized terms used herein
and not otherwise defined herein shall have the respective meanings set forth in that certain Security Agreement entered into on
even date herewith by and between Company and Buyer.

 

WITNESSETH

 

WHEREAS, the
Company and the Buyer are executing and delivering this Agreement in reliance upon an exemption from securities registration pursuant
to Section 4(2), Rule 506 of Regulation D (“Regulation D”), as promulgated by the U.S. Securities and Exchange
Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”);

 

WHEREAS,
Buyer holds that certain senior secured convertible debenture numbered PBGC – 59FF 101 issued by the Company,
with an outstanding balance of $225,000.00 (“Amended Debenture”);

 

WHEREAS, the
parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Buyer,
as provided herein, and the Buyer shall purchase the Securities, which shall be convertible into shares of the Company’s
common stock, par value $0.00015 (the “Common Stock” and, as converted, the “Conversion Shares”),
in exchange for certain consideration payable on the terms set forth herein (the “Purchase Price” and the “Subscription
Amount”); and

 

WHEREAS, contemporaneously
with the execution and delivery of this Agreement, the parties hereto are executing and delivering certain other agreements and
instruments, all of which constitute part of this transaction (collectively, the “Transaction Documents”).

 

NOW, THEREFORE,
in consideration of the mutual covenants and other agreements contained in this Agreement the Company and the Buyer hereby agree
as follows:

 

1.          PURCHASE
AND SALE OF SECURITIES

 

(a)          The
Securities. Subject to the terms and conditions set forth in this Agreement, the Buyer shall purchase from the Company and
the Company shall issue to the Buyer a secured convertible debenture in substantially the same form as the form of debenture attached
hereto as Exhibit A (the “Securities” or the “New Debenture”), which shall
be convertible into shares of common stock of the Company (the “Common Stock”).

 

(b)          The
Purchase Price. Buyer shall purchase the New Debenture in exchange for $150,000 in cash paid to the Company in three tranches,
with the first tranche of $30,000 paid in the form of immediately available U.S. cash funds at the Closing, the second tranche
of $60,000 paid on or before June 20, 2013, and the third tranche of $60,000 paid on or before July 20, 2013 (collectively, the
“Purchase Price”).

 

(c)          The
Closing. The Closing of the purchase and sale of the Securities shall take place at 10:00 a.m. Eastern Standard Time on the
second (2nd) business day following the date hereof, subject to notification of satisfaction of the conditions to the
Closing set forth herein and in Sections 6 and 7 below (or such later date as is mutually agreed to by the Company and the Buyer)
(the “Closing Date”).

 

2.          BUYER’S
REPRESENTATIONS AND WARRANTIES

 

Buyer represents and
warrants that:

 

(a)          Investment
Purpose. Buyer is acquiring the Securities and, upon conversion of Securities, the Buyer will acquire the Conversion Shares
then issuable, for its own account for investment only and not with a view towards, or for resale in connection with, the public
sale or distribution thereof, except pursuant to sales registered or exempted under the Securities Act; provided, however, that
by making the representations herein, such Buyer reserves the right to dispose of the Conversion Shares at any time in accordance
with or pursuant to an effective registration statement covering such Conversion Shares or an available exemption under the Securities
Act.

 

    	 

    	 

    

 

(b)          Accredited
Investor Status. Buyer is an “Accredited Investor” as that term is defined in Rule 501(a)(3) of Regulation
D.

 

(c)          Information.
Buyer and its advisors (and his or, its counsel), if any, have been furnished with all materials relating to the business, finances
and operations of the Company and information he deemed material to making an informed investment decision regarding his purchase
of the Securities and the Conversion Shares, which have been requested by Buyer. Buyer and its advisors, if any, have been afforded
the opportunity to ask questions of the Company and its management. Neither such inquiries nor any other due diligence investigations
conducted by Buyer or its advisors, if any, or its representatives shall modify, amend or affect Buyer’s right to rely on
the Company’s representations and warranties contained in Section 3 below. Buyer understands that its investment in the Securities
and the Conversion Shares involves a high degree of risk. Buyer is in a position regarding the Company, which, based upon employment,
family relationship or economic bargaining power, enabled and enables Buyer to obtain information from the Company in order to
evaluate the merits and risks of this investment. Buyer has sought such accounting, legal and tax advice, as it has considered
necessary to make an informed investment decision with respect to its acquisition of the Securities and the Conversion Shares.

 

(d)          Authorization,
Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of such Buyer and is a valid
and binding agreement of Buyer enforceable in accordance with its terms, except as such enforceability may be limited by general
principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating
to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

(e)          Due
Formation of Corporate and Other Buyer. Buyer has been formed and validly exists and has not been organized for the specific
purpose of purchasing the Securities and is not prohibited from doing so.

 

3.          REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The Company represents
and warrants to the Buyer that, except as set forth in the SEC Documents (as defined herein):

 

(a)          Organization
and Qualification. The Company and its Active Subsidiaries are corporations duly organized and validly existing in good standing
under the laws of the jurisdiction in which they are incorporated, and have the requisite corporate power to own their properties
and to carry on their business as now being conducted. Each of the Company and its Active Subsidiaries is duly qualified as a foreign
corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted by it makes
such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not have a
material adverse effect on the Company and its Active Subsidiaries taken as a whole.

 

(b)          Authorization,
Enforcement, Compliance with Other Instruments. (i) The Company has the requisite corporate power and authority to enter
into and perform this Agreement and the other Transaction Documents and to issue the Securities and the Conversion Shares in accordance
with the terms hereof and thereof, (ii) the execution and delivery of the Transaction Documents by the Company and the consummation
by it of the transactions contemplated hereby and thereby, including, without limitation, the issuance of the Securities the Conversion
Shares and the reservation for issuance and the issuance of the Conversion Shares issuable upon conversion or exercise thereof,
have been duly authorized by the Company’s Board of Directors and no further consent or authorization is required by the
Company, its Board of Directors or its stockholders, (iii) the Transaction Documents have been duly executed and delivered by the
Company, (iv) the Transaction Documents constitute the valid and binding obligations of the Company enforceable against the Company
in accordance with their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’
rights and remedies.

 

(c)          Capitalization.
The authorized capital stock of the Company consists of ________________ shares of Common Stock, par value $0.00015 per share,
of which about ________________ shares of Common Stock are issued and outstanding as of the date hereof. All of such outstanding
shares have been validly issued and are fully paid and nonassessable. Except as disclosed in the SEC Documents (as defined in Section
3(f)), no shares of Common Stock are subject to preemptive rights or any other similar rights or any liens or encumbrances suffered
or permitted by the Company. Except as disclosed in the SEC Documents, as of the date of this Agreement, (i) there are no outstanding
options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating either to or rights
convertible into any shares of capital stock of the Company or any of its subsidiaries, or contracts, commitments, understandings
or arrangements by which the Company or any of its subsidiaries is or may become bound to issue additional shares of capital stock
of the Company or any of its subsidiaries or options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its subsidiaries,
(ii) there are no agreements or arrangements under which the Company or any of its subsidiaries is obligated to register the sale
of any of their securities under the Securities Act (except pursuant to the Registration Rights Agreement or an S-8 Registration
Statement) and (iii) there are no outstanding registration statements (except for an S-8 Registration Statement and there are no
outstanding comment letters from the SEC or any other regulatory agency. There are no securities or instruments containing anti-dilution
or similar provisions that will be triggered by the issuance of the Securities as described in this Agreement. The Company has
furnished to the Buyer true and correct copies of the Company’s Articles of Incorporation, as amended and as in effect on
the date hereof (the “Articles of Incorporation”), and the Company’s By-laws, as in effect on the date
hereof (the “By-laws”), and the terms of all securities convertible into or exercisable for Common Stock and
the material rights of the holders thereof in respect thereto other than stock options issued to employees and consultants.

 

    	 

    	 

    

 

(d)          Issuance
of Securities. The Securities are duly authorized and, upon issuance in accordance with the terms hereof, shall be duly issued,
fully paid and nonassessable, are free from all taxes, liens and charges with respect to the issue thereof. The Conversion Shares
issuable upon conversion of the Securities have been duly authorized and reserved for issuance. Upon conversion or exercise in
accordance with the Securities the Conversion Shares will be duly issued, fully paid and nonassessable.

 

(e)          No
Conflicts. Except as disclosed in the SEC Documents, the execution, delivery and performance of the Transaction Documents by
the Company and the consummation by the Company of the transactions contemplated hereby will not (i) result in a violation of the
Certificate of Incorporation, any certificate of designations of any outstanding series of preferred stock of the Company or the
By-laws or (ii) conflict with or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or 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 result in a violation of any law, rule, regulation, order, judgment
or decree (including federal and state securities laws and regulations and the rules and regulations of The National Association
of Securities Dealers Inc.’s OTC Bulletin Board on which the Common Stock is quoted) 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. Except as disclosed
in the SEC Documents, neither the Company nor its subsidiaries is in violation of any term of or in default under its Articles
of Incorporation or By-laws or their organizational charter or by-laws, respectively, or any material contract, agreement, mortgage,
indebtedness, indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or
its subsidiaries. The business of the Company and its subsidiaries is not being conducted, and shall not be conducted in violation
of any material law, ordinance, or regulation of any governmental entity. Except as specifically contemplated by this Agreement
and as required under the Securities 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 or governmental agency in order for it to execute,
deliver or perform any of its obligations under or contemplated by this Agreement or the Registration Rights Agreement in accordance
with the terms hereof or thereof. Except as disclosed in the SEC Documents, all consents, authorizations, orders, filings and registrations
which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date
hereof. The Company and its subsidiaries are unaware of any facts or circumstance, which might give rise to any of the foregoing.

 

(f)          SEC
Documents: Financial Statements. The Company shall file all reports, schedules, forms, statements and other documents required
to be filed by it with the SEC under of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
(all of the foregoing filed prior to the date hereof or amended after the date hereof and all exhibits included therein and financial
statements and schedules thereto and documents incorporated by reference therein, being hereinafter referred to as the “SEC
Documents”). The Company has delivered to the Buyer or their representatives, or made available through the SEC’s
website at http://www.sec.gov, true and complete copies of the SEC Documents. As of their respective dates, the financial
statements of the Company disclosed in the SEC Documents (the “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. Such financial statements have been prepared in accordance with 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 exclude footnotes or may be condensed or summary statements)
and, fairly present in all material respects the financial position of the Company as of the dates thereof and the results of
its operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit
adjustments). No other information provided by or on behalf of the Company to the Buyer which is not included in the SEC Documents,
including, without limitation, information referred to in this Agreement, contains any untrue statement of a material fact or
omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading.

 

    	 

    	 

    

 

(g)          10(b)-5.
The SEC Documents do not include any untrue statements of material fact, nor do they omit to state any material fact required to
be stated therein necessary to make the statements made, in light of the circumstances under which they were made, not misleading.

 

(h)          Absence
of Litigation. Except as disclosed in the SEC Documents, there is no action, suit, proceeding, inquiry or investigation before
or by any court, public board, government agency, self-regulatory organization or body pending against or affecting the Company,
the Common Stock or any of the Company’s subsidiaries, wherein an unfavorable decision, ruling or finding would (i) have
a material adverse effect on the transactions contemplated hereby (ii) adversely affect the validity or enforceability of, or the
authority or ability of the Company to perform its obligations under, this Agreement or any of the documents contemplated herein,
or (iii) except as expressly disclosed in the SEC Documents, have a material adverse effect on the business, operations, properties,
financial condition or results of operations of the Company and its subsidiaries taken as a whole.

 

(i)          Acknowledgment
Regarding Buyer’s Purchase of the Securities. The Company acknowledges and agrees that the Buyer is acting solely in
the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company
further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity)
with respect to this Agreement and the transactions contemplated hereby and any advice given by the Buyer or any of their respective
representatives or agents in connection with this Agreement and the transactions contemplated hereby is merely incidental to such
Buyer’s purchase of the Securities or the Conversion Shares. The Company further represents to the Buyer that the Company’s
decision to enter into this Agreement has been based solely on the independent evaluation by the Company and its representatives.

 

(j)          No
General Solicitation. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has engaged
in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection
with the offer or sale of the Securities or the Conversion Shares.

 

(k)          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 of any security or solicited any offers to buy any security, under circumstances that would
require registration of the Securities or the Conversion Shares under the Securities Act or cause this offering of the Securities
or the Conversion Shares to be integrated with prior offerings by the Company for purposes of the Securities Act.

 

(l)          Internal
Accounting Controls. Except as set forth in the SEC Documents, the Company and each of its subsidiaries maintain a system of
internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s
general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles and to maintain asset accountability, and (iii) the recorded amounts for
assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

 

(m)          No
Material Adverse Breaches, etc. Except as set forth in the SEC Documents, neither the Company nor any of its subsidiaries is
subject to any charter, corporate or other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment
of the Company’s officers has or is expected in the future to have a material adverse effect on the business, properties,
operations, financial condition, results of operations or prospects of the Company or its subsidiaries. Except as set forth in
the SEC Documents, neither the Company nor any of its subsidiaries is in breach of any contract or agreement which breach, in the
judgment of the Company’s officers, has or is expected to have a material adverse effect on the business, properties, operations,
financial condition, results of operations or prospects of the Company or its subsidiaries.

 

(n)          Tax
Status. Except as set forth in the SEC Documents, the Company and each of its subsidiaries has made and filed all federal and
state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject and (unless
and only to the extent that the Company and each of its subsidiaries has set aside on its books provisions reasonably adequate
for the payment of all unpaid and unreported taxes) has paid all taxes and other governmental assessments and charges that are
material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested in good
faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods
to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the
taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

 

    	 

    	 

    

 

(o)          Certain
Transactions. Except as set forth in the SEC Documents, and except for arm’s length transactions pursuant to which the
Company makes payments in the ordinary course of business upon terms no less favorable than the Company could obtain from third
parties and other than the grant of stock options disclosed in the SEC Documents, none of the officers, directors, or employees
of the Company is presently a party to any transaction with the Company (other than for services as employees, officers and directors),
including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental
of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or,
to the knowledge of the Company, any corporation, partnership, trust or other entity in which any officer, director, or any such
employee has a substantial interest or is an officer, director, trustee or partner.

 

(p)          Fees
and Rights of First Refusal. The Company is not obligated to offer the securities offered hereunder on a right of first refusal
basis or otherwise to any third parties including, but not limited to, current or former shareholders of the Company, underwriters,
brokers, agents or other third parties.

 

4.          COVENANTS

 

(a)          Best
Efforts. Each party shall use its best efforts timely to satisfy each of the conditions to be satisfied by it as provided in
Sections 6 and 7 of this Agreement.

 

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

 

(c)          Reporting
Status. Until the earlier of (i) the date as of which the Buyer may sell all of the Conversion Shares without restriction pursuant
to Rule 144(k) promulgated under the Securities Act (or successor thereto), or (ii) the date on which (A) the Buyer shall have
sold all the Conversion Shares and (B) none of the Securities are outstanding (the “Registration Period”), the
Company shall file in a timely manner all reports required to be filed with the SEC pursuant to the Exchange Act and the regulations
of the SEC thereunder, and the Company shall not terminate its status as an issuer required to file reports under the Exchange
Act even if the Exchange Act or the rules and regulations thereunder would otherwise permit such termination.

 

(d)          Reservation
of Shares. The Company shall take all action reasonably necessary to at all times have authorized, and reserved for the purpose
of issuance, such number of shares of Common Stock as shall be necessary to effect the issuance of all of the Conversion Shares
due to Buyer upon conversion of the Amended Debenture. A default event under this Agreement and the Amended Debenture shall occur
if the Company does not have available such number of shares of Common Stock as shall be necessary to effect the issuance of all
of the Conversion Shares due to Buyer upon conversion of the Amended Debenture for a period of greater than 45 consecutive days.

 

(e)          Listings
or Quotation. The Company shall promptly secure the listing or quotation of the Conversion Shares upon each national securities
exchange, automated quotation system or The National Association of Securities Dealers Inc.’s Over-The-Counter Marketplace
(“OTCQB”) or other market, if any, upon which shares of Common Stock are then listed or quoted (subject to official
notice of issuance) and shall use its best efforts to maintain, so long as any other shares of Common Stock shall be so listed,
such listing of all Conversion Shares from time to time issuable under the terms of this Agreement. The Company shall maintain
the Common Stock’s authorization for quotation on the OTCQB.

 

(f)          Fees
and Expenses. Each of the Company and the Buyer shall pay all costs and expenses incurred by such party in connection with
the negotiation, investigation, preparation, execution and delivery of the Transaction Documents.

 

    	 

    	 

    

 

(g)          Corporate
Existence. So long as any of the Securities remain outstanding, the Company shall not directly or indirectly consummate any
merger, reorganization, restructuring, reverse stock split consolidation, sale of all or substantially all of the Company’s
assets or any similar transaction or related transactions (each such transaction, an “Organizational Change”)
unless, prior to the consummation an Organizational Change, the Company obtains the written consent of each Buyer. In any such
case, the Company will make appropriate provision with respect to such holders’ rights and interests to insure that the provisions
of this Section 4(h) will thereafter be applicable to the Securities.

 

(h)          Transactions
With Affiliates. So long as any Securities are outstanding, the Company shall not, and shall cause each of its subsidiaries
not to, enter into, amend, modify or supplement, or permit any subsidiary to enter into, amend, modify or supplement any agreement,
transaction, commitment, or arrangement with any of its or any subsidiary’s officers, directors, person who were officers
or directors at any time during the previous two (2) years, stockholders who beneficially own five percent (5%) or more of the
Common Stock, or Affiliates (as defined below) or with any individual related by blood, marriage, or adoption to any such individual
or with any entity in which any such entity or individual owns a five percent (5%) or more beneficial interest (each a “Related
Party”), except for (a) customary employment arrangements and benefit programs on reasonable terms, (b) any investment
in an Affiliate of the Company, (c) any agreement, transaction, commitment, or arrangement on an arms-length basis on terms no
less favorable than terms which would have been obtainable from a person other than such Related Party, (d) any agreement transaction,
commitment, or arrangement which is approved by a majority of the disinterested directors of the Company, for purposes hereof,
any director who is also an officer of the Company or any subsidiary of the Company shall not be a disinterested director with
respect to any such agreement, transaction, commitment, or arrangement. “Affiliate” for purposes hereof means,
with respect to any person or entity, another person or entity that, directly or indirectly, (i) has a ten percent (10%) or more
equity interest in that person or entity, (ii) has ten percent (10%) or more common ownership with that person or entity, (iii)
controls that person or entity, or (iv) shares common control with that person or entity. “Control” or
“controls” for purposes hereof means that a person or entity has the power, direct or indirect, to conduct or
govern the policies of another person or entity.

 

(i)          Transfer
Agent. The Company covenants and agrees that, in the event that the Company’s agency relationship with the transfer agent
should be terminated for any reason prior to a date which is two (2) years after the Closing Date, the Company shall immediately
appoint a new transfer agent and shall require that the new transfer agent execute and agree to be bound by the terms of the Transfer
Agent Instructions (as defined herein).

 

(j)          Production
Financing; Additional Indebtedness. The Company shall have closed on an additional $_____________ in debt financing from _________________
(“Production Lender”) on or before ____ ____, 2013 to provide working capital for inventory and production costs
(“Production Financing”). With the exception of the Production Financing, the Company shall not issue any debt
securities or promissory notes in the absence of the Buyer’s prior written consent, which consent shall not be unreasonably
withheld.

 

(k)          Current
Filings. The Company shall file all reports required under Section 13 of the Securities Exchange Act of 1934 within the time
parameters mandated by the Rules of the Securities and Exchange Commission.

 

(l)          Management.
The Company shall have executed and shall remain at all times in compliance with that certain ______________ (“Management
Agreement”) with Core Equity Group, LLC (“CEG”).

 

(m)          Further
Assurances; Cooperation. The Company shall use its best efforts to cooperate with the Company and to diligently perform under
the Transaction Documents. At and after the Closing, the Company shall execute and deliver such further instruments of conveyance
and transfer as Buyer may reasonably request to convey and transfer effectively to Buyer the Securities and any and all amounts
and shares of Common Stock due and payable thereunder.

 

5.          TRANSFER
AGENT INSTRUCTIONS

 

(a)          The
Company shall issue the Transfer Agent Instructions to its transfer agent in the form attached hereto as Exhibit B
for the purpose of having certificates issued, registered in the name of the Buyer or its respective nominee(s), for the Conversion
Shares representing such amounts of Securities as specified from time to time by the Buyer to the Company upon conversion of the
Securities, for interest owed pursuant to the Securities, and for any and all Liquidated Damages (as this term is defined in the
Investor Registration Rights Agreement).

 

(b)          The
Company shall not change its transfer agent without the express written consent of the Buyer, which may be withheld by the Buyer
in its sole discretion.

 

    	 

    	 

    

 

(c)          The
Company warrants that no instruction other than the Transfer Agent Instructions referred to in this Section 5 will be given by
the Company to its transfer agent and that the Conversion Shares shall otherwise be freely transferable on the books and records
of the Company as and to the extent provided in this Agreement.

 

(d)          Nothing
in this Section 5 shall affect in any way the Buyer’s obligations and agreement to comply with all applicable securities
laws upon resale of Conversion Shares. If the Buyer provides the Company with an opinion of counsel, in form, scope and substance
customary for opinions of counsel in comparable transactions to the effect that registration of a resale by the Buyer of any of
the Conversion Shares is not required under the Securities Act, the Company shall within two (2) business days instruct its transfer
agent to issue one or more certificates in such name and in such denominations as specified by the Buyer.

 

(e)          The
Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating the
intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach
of its obligations under this Section 5 will be inadequate and agrees, in the event of a breach or threatened breach by the Company
of the provisions of this Section 5, that the Buyer shall be entitled, in addition to all other available remedies, to an
injunction restraining any breach and requiring immediate issuance and transfer, without the necessity of showing economic loss
and without any bond or other security being required.

 

6.          CONDITIONS
TO THE COMPANY’S OBLIGATION TO SELL

 

The obligation of the
Company hereunder to issue and sell the Securities to the Buyer at the Closings is subject to the satisfaction, at or before the
Closing Date, of each of the following conditions, provided that these conditions are for the Company’s sole benefit and
may be waived by the Company at any time in its sole discretion: (a) Buyer shall have executed the Transaction Documents and delivered
them to the Company; and (b), Buyer shall have delivered to the Company the Purchase Price.

 

7.          CONDITIONS
TO THE BUYER’S OBLIGATION TO PURCHASE

 

The obligation of the
Buyer hereunder to purchase the Securities and to pay the Purchase Price pursuant to Section 1(b) hereof is subject to the satisfaction,
at or before the Closing Date or any Purchase Price payment date, of each of the following conditions:

 

(a)          The
Company shall have executed the Transaction Documents and delivered them to the Buyer.

 

(b)          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 made at that time (except for representations and warranties that speak as of a specific date). The
Company shall have performed, satisfied and complied in all material respects with the covenants, agreement and conditions required
by this Agreement and the Amended Debenture to be performed, satisfied or complied with by the Company at or prior to the Closing
Date or any Purchase Price payment date, and through and including the date upon which the Amended Debenture has been fully paid.
If requested by the Buyer, the Buyer shall have received a certificate, executed by the President of the Company to the foregoing
effect and as to such other matters as may be reasonably requested by the Buyer.

 

(c)          The
Company shall have executed and delivered to the Buyer the Securities, including the Amended Debenture.

 

(d)          The
Company shall have provided to the Buyer a certificate of good standing from the secretary of state from the state in which the
company is incorporated.

 

(e)          The
Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall have been delivered to and acknowledged in
writing by the Company’s transfer agent.

 

    	 

    	 

    

 

8.          INDEMNIFICATION

 

(a)          In
consideration of the Buyer’s execution and delivery of this Agreement and acquiring the Securities and the Conversion Shares
hereunder, and in addition to all of the Company’s other obligations under this Agreement, the Company shall defend, protect,
indemnify and hold harmless the Buyer and each other holder of the Securities and the Conversion Shares, and all of their officers,
directors, employees and agents (including, without limitation, those retained in connection with the transactions contemplated
by this Agreement) (collectively, the “Buyer Indemnitees”) from and against any and all actions, causes of action,
suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether
any such Buyer Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’
fees and disbursements (the “Indemnified Liabilities”), incurred by the Buyer Indemnitees or any of them as
a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the
Company in this Agreement, the other Transaction Documents or any other certificate, instrument or document contemplated hereby
or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the other Transaction
Documents or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or
claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement
of this Agreement or any other instrument, document or agreement executed pursuant hereto by any of the Indemnities, any transaction
financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Securities or
the status of the Buyer or holder of the Securities the Conversion Shares, as a Buyer of Securities in the Company. To the extent
that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution
to the payment and satisfaction of each of the Indemnified Liabilities, which is permissible under applicable law.

 

9.          GOVERNING
LAW: MISCELLANEOUS

 

(a)          Governing
Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New Jersey, without regard
to the principles of conflict of laws. The Company and the Buyer expressly consent to the jurisdiction and venue of the Superior
Court of New Jersey, Bergen County, for any litigation between the parties.

 

(b)          Specific
Performance. The parties hereto recognize that any breach of the terms this Agreement may give rise to irreparable harm for
which money damages would not be an adequate remedy, and accordingly agree that any non-breaching party shall be entitled to enforce
the terms of this Agreement by a decree of specific performance without the necessity of proving the inadequacy as a remedy of
money damages. If specific performance is elected as a remedy hereunder, such remedy shall be in addition to any other remedies
available at law or equity.

 

(c)          Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event any
signature page is delivered by facsimile transmission, the party using such means of delivery shall cause four (4) additional original
executed signature pages to be physically delivered to the other party within five (5) days of the execution and delivery hereof.

 

(d)          Headings;
Severability. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation
of, this Agreement. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or
unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the
validity or enforceability of any provision of this Agreement in any other jurisdiction.

 

(e)          Entire
Agreement, Amendments. This Agreement supersedes all other prior oral or written agreements between the Buyer, the Company,
their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement and the instruments
referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein and, except
as specifically set forth herein or therein, neither the Company nor any Buyer makes any representation, warranty, covenant or
undertaking with respect to such matters. No provision of this Agreement may be waived or amended other than by an instrument in
writing signed by the party to be charged with enforcement.

 

(f)          Notices.
Any notices, consents, waivers, or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered (i) upon receipt, when delivered personally; (ii) upon confirmation of
receipt, when sent by facsimile; (iii) three (3) days after being sent by U.S. certified mail, return receipt requested, or (iv)
one (1) day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party
to receive the same. Each party shall provide five (5) days’ prior written notice to the other party of any change in address
or facsimile number.

 

(g)          Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and
assigns. Neither the Company nor any Buyer shall assign this Agreement or any rights or obligations hereunder without the prior
written consent of the other party hereto.

 

    	 

    	 

    

 

(h)          No
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

(i)          Publicity.
The Company shall issue no press release or public disclosure involving the Transaction Documents and/or the Financing in the absence
of the Buyer’s prior written consent.

 

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

 

(k)          Termination.
In the event that the Closing shall not have occurred with respect to the Buyer on or before five (5) business days from the date
hereof due to the Company’s or the Buyer’s failure to satisfy the conditions set forth in Sections 6 and 7 above (and
the non-breaching party’s failure to waive such unsatisfied condition(s)), the non-breaching party shall have the option
to terminate this Agreement with respect to such breaching party at the close of business on such date without liability of any
party to any other party; provided, however, that if this Agreement is terminated by the Company pursuant to this Section 9, the
Company shall remain obligated to reimburse the Buyer for $5,000 in fees and expenses.

 

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IN WITNESS WHEREOF the parties have
duly executed, or caused their duly authorized representative, to execute this Securities Purchase Agreement.

 

	 	[                                                   ]
	 	 
	 	By:
	 	Name:
	 	Title:           Manager

 

	PREMIER BEVERAGE GROUP, CORP.	 
	 	 
	By:	 	 
	Name:	Fouad Kallamni	 
	Title:	PresidentEXHIBIT A TO SECURITIES PURCHASE AGREEMENT

 

NEW DEBENTURE

 

(issued to [                    ], in exchange for $150,000
in cash)

 

    	Exhibit 10.16	PAGE 1

    	 

    

 

NEITHER THIS DEBENTURE NOR THE SECURITIES
INTO WHICH THIS DEBENTURE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

	Original Issuance Date:	May 15, 2013	$150,000.00
	 	 	 
	Debenture Number:	PBGC – 59FF 102	 

 

PREMIER
BEVERAGE GROUP, CORP.

 

Secured Amended and Restated Convertible
Debenture

 

FOR VALUE RECEIVED,
PREMIER BEVERAGE GROUP, CORP. (hereinafter called the “Obligor”
or the “Company”), hereby promises to pay to [                  ]
(the “Holder”) or its successors and assigns the principal sum of ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000)
in cash or Obligor common stock on the terms and conditions hereof on or before December 31, 2014 (the “Maturity
Date”).

 

Interest.
Interest shall accrue on the outstanding principal balance hereof at an annual rate equal to the lesser of the minimum rate allowable
under law or TWENTY PERCENT (20%). Interest shall be calculated on the basis
of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law. Interest hereunder will be
paid to the Holder or its assignee in whose name this Debenture is registered on the records of the Obligor regarding registration
and transfers of Debentures at the option of the Obligor in cash, or converted into Common Stock at applicable Conversion Price
on the Trading Day immediately prior to the date paid provided that such shares are freely tradable by the Holder.

 

This Debenture is subject
to the following additional provisions:

 

Section 1.          Conversion.

 

(a)          Conversion
Procedure.

 

(i)          This
Debenture shall be convertible into shares of Common Stock at the option of the Holder, in whole or in part at any time and from
time to time, after the Effective Date (set forth above) (subject to the limitations on conversion set forth in Sections 1(b)and
1(c) hereof). The Debenture shall continue to be convertible on and after the Demand Date, until it is satisfied in full. The
number of shares of Common Stock issuable upon a conversion hereunder equals the quotient obtained by dividing (x) the outstanding
amount of this Debenture to be converted by (y) the Conversion Price (as defined in Section 1(c)(i)). The Obligor shall
deliver Common Stock certificates to the Holder prior to the Fifth (5th) Trading Day after a Conversion Date.

 

(ii)         The
Holder shall effect conversions by delivering to the Obligor a completed notice in the form attached hereto as Exhibit A (a “Conversion
Notice”). The date on which a Conversion Notice is delivered is the “Conversion Date.” Unless the
Holder is converting the entire principal amount outstanding under this Debenture, the Holder is not required to physically surrender
this Debenture to the Obligor in order to effect conversions. Conversions hereunder shall have the effect of lowering the outstanding
principal amount of this Debenture in an amount equal to the applicable conversion. The Holder and the Obligor shall maintain records
showing the principal amount converted and the date of such conversions. In the event of any dispute or discrepancy, the records
of the Holder shall be controlling and determinative in the absence of manifest error.

 

    	Exhibit 10.16	PAGE 2

    	 

    

 

(b)          Certain
Conversion Restrictions. A Holder may not convert this Debenture to the extent such conversion would result in the Holder,
together with any affiliate thereof, beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act and
the rules promulgated thereunder) in excess of 4.99% of the then issued and outstanding shares of Common Stock, including shares
issuable upon conversion of this Debenture held by such Holder after application of this Section. Since the Holder will not be
obligated to report to the Obligor the number of shares of Common Stock it may hold at the time of a conversion hereunder, unless
the conversion at issue would result in the issuance of shares of Common Stock in excess of 4.99% of the then outstanding shares
of Common Stock without regard to any other shares which may be beneficially owned by the Holder or an affiliate thereof, the Holder
shall have the authority and obligation to determine whether the restriction contained in this Section will limit any particular
conversion hereunder and to the extent that the Holder determines that the limitation contained in this Section applies, the determination
of which portion of the principal amount of this Debenture is convertible shall be the responsibility and obligation of the Holder.
If the Holder has delivered a Conversion Notice for a principal amount of this Debenture that, without regard to any other shares
that the Holder or its affiliates may beneficially own, would result in the issuance in excess of the permitted amount hereunder,
the Obligor shall notify the Holder of this fact and shall honor the conversion for the maximum principal amount permitted to be
converted on such Conversion Date in accordance with the periods described in Section 1(a)(i) and, at the option of the
Holder, either retain any principal amount tendered for conversion in excess of the permitted amount hereunder for future conversions
or return such excess principal amount to the Holder. The provisions of this Section may be waived by a Holder (but only as to
itself and not to any other Holder) upon notice to the Obligor. Other Holders shall be unaffected by any such waiver.

 

(c)          Conversion
Price and Adjustments to Conversion Price.

 

(i)          The
“Conversion Price” in effect on any Conversion Date shall be equal to $0.02 per share.

 

(ii)         
In case of any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is converted
into other securities, cash or property, the Holder shall have the right thereafter to, at its option, (A) convert the then outstanding
principal amount and any other amounts then owing hereunder in respect of this Debenture into the shares of stock and other securities,
cash and property receivable upon or deemed to be held by holders of the Common Stock following such reclassification or share
exchange, and the Holder of this Debenture shall be entitled upon such event to receive such amount of securities, cash or property
as the shares of the Common Stock of the Obligor into which the then outstanding principal amount and any other amounts then owing
hereunder in respect of this Debenture could have been converted immediately prior to such reclassification or share exchange would
have been entitled, or (B) require the Obligor to prepay the outstanding principal amount of this Debenture, plus all other amounts
due and payable thereon. The entire prepayment price shall be paid in cash. This provision shall similarly apply to successive
reclassifications or share exchanges.

 

(iii)        All
calculations under this Section 1 shall be rounded up to the nearest $0.00001 or whole share.

 

(iv)        If
(A) the Obligor shall declare a dividend (or any other distribution) on the Common Stock; (B) the Obligor shall declare a special
nonrecurring cash dividend on or a redemption of the Common Stock; (C) the Obligor shall authorize the granting to all holders
of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights;
(D) the approval of any stockholders of the Obligor shall be required in connection with any reclassification of the Common Stock,
any consolidation or merger to which the Obligor is a party, any sale or transfer of all or substantially all of the assets of
the Obligor, of any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property; or
(E) the Obligor shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Obligor;
then, in each case, the Obligor shall cause to be filed at each office or agency maintained for the purpose of conversion of this
Debenture, and shall cause to be mailed to the Holder at its last address as it shall appear upon the stock books of the Obligor,
at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x)
the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if
a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions,
redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale,
transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the
Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided, that the failure to mail such notice
or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified
in such notice. The Holder is entitled to convert this Debenture during the 20-day calendar period commencing the date of such
notice to the effective date of the event triggering such notice.

 

    	Exhibit 10.16	PAGE 3

    	 

    

 

(d)          Other
Restrictions.

 

(i)          Obligor
shall maintain a sufficient amount of authorized common shares to enable conversion of all amounts due under this Debenture.

 

(ii)         Mandatory
Prepayment. Commencing on May 15, 2014, Obligor shall pay any outstanding amounts due to Holder hereunder at the rate of $10,000
per month in immediately available U.S. cash funds until such time as all amounts due to Holder have been paid in full.

 

(e)          Other
Provisions.

 

(i)          The
Obligor covenants that all shares of Common Stock that shall be issuable pursuant to this Section 1 shall, upon issue, be
duly and validly authorized, issued and fully paid, and nonassessable.

 

(ii)         Upon
a conversion hereunder the Obligor shall not be required to issue stock certificates representing fractions of shares of the Common
Stock, but may if otherwise permitted, make a cash payment in respect of any final fraction of a share based on the Closing Bid
Price at such time. If the Obligor elects not, or is unable, to make such a cash payment, the Holder shall be entitled to receive,
in lieu of the final fraction of a share, one whole share of Common Stock.

 

(iii)        The
issuance of certificates for shares of the Common Stock on conversion of this Debenture shall be made without charge to the Holder
thereof for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificate,
provided that the Obligor shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance
and delivery of any such certificate upon conversion in a name other than that of the Holder of such Debenture so converted and
the Obligor shall not be required to issue or deliver such certificates unless or until the person or persons requesting the issuance
thereof shall have paid to the Obligor the amount of such tax or shall have established to the satisfaction of the Obligor that
such tax has been paid.

 

(iv)        Nothing
herein shall limit a Holder's right to pursue actual damages for the Obligor’s failure to deliver certificates representing
shares of Common Stock upon conversion within the period specified herein and such Holder shall have the right to pursue all remedies
available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief, in
each case without the need to post a bond or provide other security. The exercise of any such rights shall not prohibit the Holder
from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

 

(v)         The
Obligor shall bear the cost of legal opinion production, transfer agent fees, and equity issuance fees (collectively, the “Post-Closing
Expenses”), which amount shall be payable to Holder in the form of additional interest hereunder.

 

(f)          A
“Default Event” wherever used herein, means any one of the following events (whatever the reason and whether
it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court,
or any order, rule or regulation of any administrative or governmental body):

 

(i)          Any
breach of any provision of this Debenture or any of the agreements executed in connection herewith (collectively, the “Transaction
Documents”), including, without limitation, that certain Forbearance Agreement dated as of May 15, 2013, by and between
Holder and Obligor, and those certain Transfer Agent Instructions executed in favor of Holder by Obligor and its transfer agent
in connection with issuance of this Debenture.

 

(ii)         Withdrawal
from registration of the Obligor under the Exchange Act, voluntary or involuntary.

 

    	Exhibit 10.16	PAGE 4

    	 

    

 

(iii)        The
Company or any Active Subsidiary of the Company shall commence, or there shall be commenced against the Company or any Active Subsidiary
of the Company under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the
Company or any Active Subsidiary of the Company commences any other proceeding under any reorganization, arrangement, adjustment
of debt, relief of debtors dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in
effect relating to the Company or any Active Subsidiary of the Company or there is commenced against the Company or any Active
Subsidiary of the Company any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of 61 days;
or the Company or any Active Subsidiary of the Company is adjudicated insolvent or bankrupt; or any order of relief or other order
approving any such case or proceeding is entered; or the Company or any Active Subsidiary of the Company suffers any appointment
of any custodian, private or court appointed receiver or the like for it or any substantial part of its property which continues
undischarged or unstayed for a period of forty-five (45) days; or the Company or any Active Subsidiary of the Company makes a general
assignment for the benefit of creditors; or the Company or any Active Subsidiary of the Company shall fail to pay, or shall state
that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or the Company or any Active Subsidiary
of the Company shall call a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its
debts; or the Company or any Active Subsidiary of the Company shall by any act or failure to act expressly indicate its consent
to, approval of or acquiescence in any of the foregoing; or any corporate or other action is taken by the Company or any Active
Subsidiary of the Company for the purpose of effecting any of the foregoing.

 

(iv)        The
Company or any Active Subsidiary of the Company shall default in any of its obligations under any other debenture or any mortgage,
credit agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued,
or by which there may be secured or evidenced any indebtedness for borrowed money or money due under any long term leasing or factoring
arrangement of the Company or any Active Subsidiary of the Company in an amount exceeding $100,000, whether such indebtedness now
exists or shall hereafter be created and such default shall result in such indebtedness becoming or being declared due and payable.

 

(v)         The
Obligor fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that it will not honor its obligation
to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the terms of this Debenture, fails
to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form) any certificate for shares
of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Debenture as and when required by this Debenture,
the Obligor directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring or
issuing (electronically or in certificated form) any certificate for shares of Common Stock to be issued to the Holder upon conversion
of or otherwise pursuant to this Debenture as and when required by this Debenture, or fails to remove (or directs its transfer
agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw
any stop transfer instructions in respect thereof) on any certificate for any shares of Common Stock issued to the Holder upon
conversion of or otherwise pursuant to this Debenture as and when required by this Debenture (or makes any written announcement,
statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure shall continue
uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing) for five
(5) business days after the Holder shall have delivered a Notice of Conversion.

 

(vi)        Any
dissolution, liquidation, or winding up of Obligor or any substantial portion of its business, or any cessation of operations or
admission by Obligor that it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any
disclosure of the Obligor’s ability to continue as a “going concern” shall not be an admission that the Obligor
cannot pay its debts as they become due.

 

(vii)       The
Common Stock shall cease to be quoted or listed for trading on any primary market for a period of five (5) consecutive trading
days (including, for example, any such failure in which a bid price is not quoted for the Obligor’s Common Stock for such
period). The Company shall file all reports required under Section 13 of the Securities Exchange Act of 1934 within the time parameters
mandated by the Rules of the Securities and Exchange Commission.

 

(g)          Upon
the occurrence of any Default Event which remains uncured for 60 days after receipt of Holder’s written notice of default,
all outstanding principal, accrued interest, and, in consideration of the equity-based conversion discount afforded Holder hereunder,
liquidated damages equal to 200% of all outstanding principal and accrued interest due hereunder, shall be due and payable in full
upon demand of the Holder; and, the Conversion Price shall be automatically adjusted to the lesser of $0.0001 per share or 50%
of the 45 Day VWAP. As used herein, the term “45 Day VWAP” shall mean and refer to the lowest volume weighted
average closing market price for the Common Stock for the 45 trading days preceding conversion as posted on the OTCQB or on such
US National Exchange upon which the Company may be listed.

 

    	Exhibit 10.16	PAGE 5

    	 

    

 

Section 2.          Notices.
All notices under this Agreement shall be in writing and shall be (i) delivered in person, (ii) sent by telecopy, or (iii)
mailed, postage prepaid, either by registered or certified mail, return receipt requested, or overnight express carrier, addressed
in each case to the addresses set forth above, or to any other address or telecopy number as such party shall designate in a written
notice to the other. All notices sent pursuant to the terms of this Section shall be deemed received (i) if personally delivered,
then on the date of delivery; (ii) if sent by telecopy before 2:00 p.m. local time of the recipient, on the day sent if a business
day or if such day is not a business day or if sent after 2:00 p.m. local time of the recipient, then on the next business day;
(iii) if sent by overnight, express carrier, on the next business day immediately following the day sent; or (iv) if sent by registered
or certified mail, on the earlier of the third (3rd) business day following the day sent or when actually received. Any notice
by telecopy shall be followed by delivery of a copy of such notice on the next business day by overnight express carrier or by
hand.

 

Section 3.          Definitions.
For the purposes hereof, the following terms shall have the following meanings:

 

“Common Stock”
means the common stock, par value $0.0001, of the Obligor and stock of any other class into which such shares may hereafter be
changed or reclassified.

 

“Conversion
Date” shall mean the date upon which the Holder gives the Obligor notice of its intention to effectuate a conversion
of this Debenture into shares of the Company’s Common Stock as outlined herein.

 

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

 

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

 

“Underlying
Shares” means the shares of Common Stock issuable upon conversion of this Debenture.

 

Section 4.          This
Debenture shall not entitle the Holder to any of the rights of a stockholder of the Obligor, including without limitation, the
right to vote, to receive dividends and other distributions, or to receive any notice of, or to attend, meetings of stockholders
or any other proceedings of the Obligor, unless and to the extent converted into shares of Common Stock in accordance with the
terms hereof.

 

Section 5.          If
this Debenture is mutilated, lost, stolen or destroyed, the Obligor shall execute and deliver, in exchange and substitution for
and upon cancellation of the mutilated Debenture, or in lieu of or in substitution for a lost, stolen or destroyed Debenture,
a new Debenture for the principal amount of this Debenture so mutilated, lost, stolen or destroyed but only upon receipt of evidence
of such loss, theft or destruction of such Debenture, and of the ownership hereof, and indemnity, if requested, all reasonably
satisfactory to the Obligor.

 

Section 6.          Any
waiver by the Holder of a breach of any provision of this Debenture shall not operate as or be construed to be a waiver of any
other breach of such provision or of any breach of any other provision of this Debenture. The failure of the Holder to insist
upon strict adherence to any term of this Debenture on one or more occasions shall not be considered a waiver or deprive that
party of the right thereafter to insist upon strict adherence to that term or any other term of this Debenture. Any waiver must
be in writing.

 

Section 7.          Whenever
any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day.

 

Section 8.          In
case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid or
unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent
possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected or impaired
thereby. In no event shall the amount of interest paid hereunder exceed the maximum rate of interest on the unpaid principal balance
hereof allowable by applicable law. If any sum is collected in excess of the applicable maximum rate, the excess collected shall
be applied to reduce the principal debt. If the interest actually collected hereunder is still in excess of the applicable maximum
rate, the interest rate shall be reduced so as not to exceed the maximum allowable under law.

 

    	Exhibit 10.16	PAGE 6

    	 

    

 

Section 9.          Law;
Jurisdiction. This Debenture shall be governed by and interpreted in accordance with the laws of the State of New Jersey,
without regard to the principles of conflict of laws. The Obligor and the Holder expressly consent to the jurisdiction and venue
of the Superior Court of New Jersey, Bergen County, for any litigation between the parties.

 

Section 10.         No
Jury Trial. The COMPANY
hereto knowingly and voluntarily waives any and all rights it may have to a trial by jury with respect to any litigation based
on, or arising out of, under, or in connection with, this Note.

 

Section 11.         Waiver.
The Company hereby waives any and all demands of any nature whatsoever, any and all notices of any nature whatsoever,
dishonor, presentment of any kind whatsoever, and protest of or in connection with this Debenture.

 

Section 12.         Entire
Agreement. THIS AGREEMENT EMBODIES THE ENTIRE AGREEMENT AND UNDERSTANDING BETWEEN THE PARTIES HERETO AND SUPERSEDES
ALL PRIOR AGREEMENTS AND UNDERSTANDINGS RELATING TO THE SUBJECT MATTER HEREOF.

 

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    	Exhibit 10.16	PAGE 7

    	 

    

 

IN WITNESS WHEREOF,
the Obligor has caused this Debenture to be duly executed by a duly authorized officer as of the date set forth above.

 

	PREMIER BEVERAGE GROUP CORP.
	 	 
	By:	 	 
	Print:	Fouad Kallamni	 
	Title:	President	 

  

    	Exhibit 10.16	PAGE 8

    	 

    

 

EXHIBIT “A”

 

NOTICE OF CONVERSION

 

(To be executed by the Holder in order
to convert the Debenture)

 

The undersigned hereby
irrevocably elects to convert the below listed amount of the Debenture into Shares of Common Stock of PREMIER
BEVERAGE GROUP CORP., according to the conditions stated therein, as of the Conversion Date written below.

 

	Conversion Date:	 
	 	 
	Applicable Conversion Price:	 
	 	 
	Amount to be Converted:	$
	 	 
	Amount of Debenture Unconverted:	$  
	 	 
	Shares of Common Stock to be Issued:	 
	 	 
	Please issue the shares of Common Stock in the following name and to the following address:	 
	 	 
	Issue to:	 
	 	 
	Authorized Signature:	 
	 	 
	Name:	 
	 	 
	Title:	 
	 	 
	Phone Number:	 
	 	 
	Broker DTC Participant Code:	 
	 	 
	Account Number:	 

 

    	Exhibit 10.16	PAGE 9

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