Document:

Exhibit 10.13

 

	BLSP	 	 	 	Interest free if paid in full
     within 3 months
	 	 	$350,000 CONVERTIBLE NOTE	 

 

FOR VALUE RECEIVED, Bluesphere Corp.,
a Nevada corporation (the “Issuer” of this Security) with at least 38,000,000 common shares issued and outstanding,
issues this Security and promises to pay to JMJ Financial, a Nevada sole proprietorship, or its Assignees (the “Investor”)
the Principal Sum along with the Interest Rate and any other fees according to the terms herein. This Note will become effective
only upon execution by both parties and delivery of the first payment of Consideration by the Investor (the “Effective Date”).

 

The Principal Sum is $350,000 (three hundred
fifty thousand) plus accrued and unpaid interest and any other fees. The Consideration is $315,000 (three hundred fifteen thousand)
payable by wire (there exists a $35,000 original issue discount (the “OID”)). The Investor shall pay $75,000 of Consideration
upon closing of this Note. The Investor may pay additional Consideration to the Issuer in such amounts and at such dates as the
Investor may choose in its sole discretion. The Principal Sum due to THE Investor shall
be prorated based on the Consideration actually paid by Investor (plus an approximate 10% original issue discount that is prorated
based on the Consideration actually paid by the Investor as well as any other interest or fees) such
that the Issuer is only required to repay the amount funded and the Issuer is not required to repay any unfunded portion of this
Note. The Maturity Date is two years from the Effective Date of each payment (the “Maturity Date”) and is
the date upon which the Principal Sum of this Note, as well as any unpaid interest and other fees, shall be due and payable. The
Conversion Price is 63% of the lowest trade price in the 25 trading days previous
to the conversion (In the case that conversion shares are not deliverable by DWAC an additional 10% discount will apply; and if
the shares are ineligible for deposit into the DTC system and only eligible for Xclearing deposit an additional 5% discount shall
apply; in the case of both an additional cumulative 15% discount shall apply). Unless otherwise agreed in writing by both parties,
at no time will the Investor convert any amount of the Note into common stock that would result in the Investor owning more than
4.99% of the common stock outstanding.

 

1.      ZERO Percent Interest
for the First Three Months. The Issuer may repay this Note at any time on or before 90 days from the Effective Date, after
which the Issuer may not make further payments on this Note prior to the Maturity Date without written approval from the Investor.
If the Issuer repays a payment of Consideration on or before 90 days from the Effective Date of that payment, the Interest Rate
on that payment of Consideration shall be ZERO PERCENT (0%).  If the Issuer does not repay a payment of Consideration on or
before 90 days from its Effective Date, a one-time Interest charge of 12% shall be applied to the Principal Sum. Any interest payable
is in addition to the OID, and that OID (or prorated OID, if applicable) remains payable regardless of time and manner of payment
by the Issuer.

 

2.      Conversion. The Investor has
the right, at any time after the Effective Date, at its election, to convert all or part of the outstanding and unpaid Principal
Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of common stock of the Issuer
as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the
Conversion Price. Conversions may be delivered to the Issuer by method of the Investor’s choice (including but not limited
to email, facsimile, mail, overnight courier, or personal delivery), and all conversions shall be cashless and not require further
payment from the Investor. If no objection is delivered from the Issuer to the Investor regarding any variable or calculation of
the conversion notice within 24 hours of delivery of the conversion notice, the Issuer shall have been thereafter deemed to have
irrevocably confirmed and irrevocably ratified such notice of conversion and waived any objection thereto. The Issuer shall deliver
the shares from any conversion to the Investor (in any name directed by the Investor) within 3 (three) business days of conversion
notice delivery.

 

3.      Conversion Delays. If the
Issuer fails to deliver shares in accordance with the timeframe stated in Section 2, the Investor, at any time prior to selling
all of those shares, may rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares
and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to the Issuer
(under the Investor’s and the Issuer’s expectations that any returned conversion amounts will tack back to the original
date of the Note). In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive
of the day of conversion), a penalty of $2,000 per day will be assessed for each day after the third business day (inclusive of
the day of the conversion) until share delivery is made; and such penalty will be added to the Principal Sum of the Note (under
the Investor’s and the Issuer’s expectations that any penalty amounts will tack back to the original date of the Note).

 

4.      Reservation of Shares. At
all times during which this Note is convertible, the Issuer will reserve from its authorized and unissued Common Stock to provide
for the issuance of Common Stock upon the full conversion of this Note. The Issuer will at all times reserve at least 10,000,000
shares of Common Stock for conversion.

 

5.      Piggyback Registration Rights.
Except with a registration statement on Form S-4 or S-8, the Issuer shall include
on the next registration statement the Issuer files with SEC (or on the subsequent registration statement if such registration
statement is withdrawn) all shares issuable upon conversion of this Note unless such shares
are eligible for resale under Rule 144. Failure to do so will result in liquidated damages of 25% of the outstanding principal
balance of this Note, but not less than $25,000, being immediately due and payable to the Investor at its election in the form
of cash payment or addition to the balance of this Note.

 

6.      Terms of Future Financings.
This section intentionally left blank.

 

    	 

    	 

    

 

7.      Default. The following are
events of default under this Note: (i) the Issuer shall fail to pay any principal under the Note when due and payable (or payable
by conversion) thereunder; or (ii) the Issuer shall fail to pay any interest or any other amount under the Note when due and payable
(or payable by conversion) thereunder; or (iii) a receiver, trustee or other similar official shall be appointed over the Issuer
or a material part of its assets and such appointment shall remain uncontested for twenty (20) days or shall not be dismissed or
discharged within sixty (60) days; or (iv) the Issuer shall become insolvent or generally fails to pay, or admits in writing its
inability to pay, its debts as they become due, subject to applicable grace periods, if any; or (v) the Issuer shall make a general
assignment for the benefit of creditors; or (vi) the Issuer shall file a petition for relief under any bankruptcy, insolvency or
similar law (domestic or foreign); or (vii) an involuntary proceeding shall be commenced or filed against the Issuer; or (viii)
the Issuer shall lose its status as “DTC Eligible” or the Issuer’s shareholders shall lose the ability to deposit
(either electronically or by physical certificates, or otherwise) shares into the DTC System; or (ix) the Issuer shall become delinquent
in its filing requirements as a fully-reporting issuer registered with the SEC; or (x) the Issuer shall fail to meet all requirements
to satisfy the availability of Rule 144 to the Investor or its assigns including but not limited to timely fulfillment of its filing
requirements as a fully-reporting issuer registered with the SEC, requirements for XBRL filings, and requirements for disclosure
of financial statements on its website.

 

8.      Remedies. In the event of
any default, the outstanding principal amount of this Note, plus accrued but unpaid interest, liquidated damages, fees and other
amounts owing in respect thereof through the date of acceleration, shall become, at the Investor’s election, immediately
due and payable in cash at the Mandatory Default Amount. The Mandatory Default Amount means the greater of (i) the outstanding
principal amount of this Note, plus all accrued and unpaid interest, liquidated damages, fees and other amounts hereon, divided
by the Conversion Price on the date the Mandatory Default Amount is either demanded or paid in full, whichever has a lower Conversion
Price, multiplied by the VWAP on the date the Mandatory Default Amount is either demanded or paid in full, whichever has a higher
VWAP, or (ii) 150% of the outstanding principal amount of this Note, plus 100% of accrued and unpaid interest, liquidated damages,
fees and other amounts hereon. Commencing five (5) days after the occurrence of any event of default that results in the eventual
acceleration of this Note, the interest rate on this Note shall accrue at an interest rate equal to the lesser of 18% per annum
or the maximum rate permitted under applicable law. In connection with such acceleration described herein, the Investor need not
provide, and the Issuer hereby waives, any presentment, demand, protest or other notice of any kind, and the Investor may immediately
and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available
to it under applicable law. Such acceleration may be rescinded and annulled by the Investor at any time prior to payment hereunder
and the Investor shall have all rights as a holder of the note until such time, if any, as the Investor receives full payment pursuant
to this Section 8. No such rescission or annulment shall affect any subsequent event of default or impair any right consequent
thereon. Nothing herein shall limit the Investor’s right to pursue any other remedies available to it at law or in equity
including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Issuer’s failure
to timely deliver certificates representing shares of Common Stock upon conversion of the Note as required pursuant to the terms
hereof.

 

9.      No Shorting. The Investor
agrees that so long as this Note from the Issuer to the Investor remains outstanding, the Investor will not enter into or effect
“short sales” of the Common Stock or hedging transaction which establishes a net short position with respect to the
Common Stock of the Issuer. The Issuer acknowledges and agrees that upon delivery of a conversion notice by the Investor, the Investor
immediately owns the shares of Common Stock described in the conversion notice and any sale of those shares issuable under such
conversion notice would not be considered short sales.

 

10.      Assignability. The Issuer
may not assign this Note. This Note will be binding upon the Issuer and its successors and will inure to the benefit of the Investor
and its successors and assigns and may be assigned by the Investor to anyone without the Issuer’s approval.

 

11.      Governing Law. This Note
will be governed by, and construed and enforced in accordance with, the laws of the State of Nevada, without regard to the conflict
of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this
Agreement shall be brought only in the state courts of Florida or in the federal courts located in Miami-Dade County, in the State
of Florida. Both parties and the individuals signing this Agreement agree to submit to the jurisdiction of such courts.

 

12.      Delivery of Process by the Investor
to the Issuer. In the event of any action or proceeding by the Investor against the Issuer, and only by the Investor against
the Issuer, service of copies of summons and/or complaint and/or any other process which may be served in any such action or proceeding
may be made by the Investor via U.S. Mail, overnight delivery service such as FedEx or UPS, email, fax, or process server, or by
mailing or otherwise delivering a copy of such process to the Issuer at its last known attorney as set forth in its most recent
SEC filing.

 

13.      Attorney Fees. If any attorney
is employed by either party with regard to any legal or equitable action, arbitration or other proceeding brought by such party
for enforcement of this Note or because of an alleged dispute, breach, default or misrepresentation in connection with any of the
provisions of this Note, the prevailing party will be entitled to recover from the other party reasonable attorneys' fees and other
costs and expenses incurred, in addition to any other relief to which the prevailing party may be entitled.

 

14.      Opinion of Counsel. In the
event that an opinion of counsel is needed for any matter related to this Note, the Investor has the right to have any such opinion
provided by its counsel. Investor also has the right to have any such opinion provided by Issuer’s counsel.

 

15.      Notices. Any notice required
or permitted hereunder (including Conversion Notices) must be in writing and either personally served, sent by facsimile or email
transmission, or sent by overnight courier. Notices will be deemed effectively delivered at the time of transmission if by facsimile
or email, and if by overnight courier the business day after such notice is deposited with the courier service for delivery.

 

    	 

    	 

    

 

	Issuer:	 	Investor:
	 	 	 
	 	 	 
	Shlomi Palas	 	JMJ Financial
	Bluesphere Corp.	 	Its Principal
	Chief Executive Officer	 	 
	 	 	 
	Date:  	 	 	Date:  	 

 

[Signature Page to $350,000 Promissory
Note]Exhibit 10.14

 

ORIGINAL ISSUE DISCOUNT CONVERTIBLE PROMISSORY
NOTE

 

	Face Amount:	$130,000.00	August 28, 2014
	Purchase Price:	$100,000.00	 

 

FOR VALUE RECEIVED,
BLUE SPHERE CORP., a Nevada corporation (the “Maker or Company”), with its principal offices located at 35 Asuta
St. P.O.B 857 Even Yehuda 40500 Israel promises to pay to the order of BEAUFORT CAPITAL PARTNERS LLC, or its registered assigns
(the “Payee” or “Beaufort”), upon the terms set forth below, the principal amount of One
Hundred Thousand Dollars ($100,000.00) (this “Note”).

 

1.          Payments.

 

(a)          The
purchase price ($100,000.00) of this Note shall be due on August 27, 2015 or such later date as is agreed to in writing by the
Payee (the “Maturity Date”), unless due earlier in accordance with the terms of this Note (see Section c below).

 

(b)          All
overdue unpaid principal to be paid hereunder shall entail a late fee at the rate of 12% per annum (or such lower maximum amount
of interest permitted to be charged under applicable law) which will accrue daily, from the date such principal is due hereunder
through and including the date of payment.

 

(c)          Absent
the occurrence of an Event of Default (unless such Event of Default is waived in writing by the Payee), the Maker may prepay this
Note for a net payment of $130,000.00 at any time prior to February 27, 2015.

 

2.          Payment
Schedule. $100,000.00 to the Company upon written proof that the transfer agent and corporate attorney have been paid and up
to date.

 

3.          Events
of Default.

 

(a)          “Event
of Default”, 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)          [Intentionally
omitted];

 

(iii)        Maker
or any of its subsidiaries shall fail to observe or perform any of their respective obligations owed to Payee under this Note or
any other covenant, agreement, representation or warranty contained in, or otherwise commit any breach hereunder or in any other
agreement executed in connection herewith and such failure or breach shall not have been remedied within ten days after the date
on which notice of such failure or breach shall have been delivered;

 

    	 

    	 

    

 

(iv)        Maker
or any of its subsidiaries shall commence, or there shall be commenced against Maker or any subsidiary, a case under any applicable
bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or Maker or any subsidiary 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 Maker or any subsidiary, or there is commenced
against Maker or any subsidiary any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of 60
days; or Maker or any subsidiary is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such
case or proceeding is entered; or Maker or any subsidiary suffers any appointment of any custodian or the like for it or any substantial
part of its property which continues undischarged or unstayed for a period of 60 days; or Maker or any subsidiary makes a general
assignment for the benefit of creditors; or Maker or any subsidiary shall call a meeting of its creditors with a view to arranging
a composition, adjustment or restructuring of its debts; or Maker or any subsidiary 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 Maker
or any subsidiary for the purpose of effecting any of the foregoing;

 

(v)         [Intentionally
omitted]

 

(vi)        Maker
shall (a) be a party to any Change of Control Transaction (as defined below), (b) agree to sell or dispose all or in excess of
33% of its assets in one or more transactions (whether or not such sale would constitute a Change of Control Transaction), (c)
redeem or repurchase more than a de minimis number of shares of Common Stock or other equity securities of Maker
or (d) make any distribution or declare or pay any dividends (in cash or other property, other than common stock) on, or purchase,
acquire, redeem, or retire any of Maker's capital stock, of any class, whether now or hereafter outstanding. “Change of
Control Transaction” means the occurrence of any of: (i) an acquisition after the date hereof by an individual or legal
entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Securities Exchange Act of 1934, as amended)
of effective control (whether through legal or beneficial ownership of capital stock of Maker, by contract or otherwise) of in
excess of 33% of the voting securities of Maker, (ii) a replacement at one time or over time of more than one-half of the members
of Maker's board of directors which is not approved by a majority of those individuals who are members of the board of directors
on the date hereof (or by those individuals who are serving as members of the board of directors on any date whose nomination to
the board of directors was approved by a majority of the members of the board of directors who are members on the date hereof),
(iii) the merger of Maker with or into another entity that is not wholly-owned by Maker, consolidation or sale of 33% or more of
the assets of Maker in one or a series of related transactions, or (iv) the execution by Maker of an agreement to which Maker is
a party or by which it is bound, providing for any of the events set forth above in (i), (ii) or (iii).

 

(vii)        Failure
to remain current in the Company’s reporting under the Securities Exchange Act 1934, as amended.

 

    	 

    	 

    

  

(b)        If any Event of Default occurs
(unless such Event of Default is waived in writing by the Payee), the full principal amount of this Note shall become, at the Payee's
election, immediately due and payable in cash. Commencing 5 days after the occurrence of any Event of Default that results in the
acceleration of this Note, the interest rate on this Note shall accrue at the rate of 12% per annum, or such lower maximum amount
of interest permitted to be charged under applicable law. The Payee need not provide and Maker hereby waives any presentment, demand,
protest or other notice of any kind, and the Payee may immediately and without expiration of any grace period enforce any and all
of its rights and remedies hereunder and all other remedies available to it under applicable law. Such declaration may be rescinded
and annulled by Payee at any time prior to payment hereunder. No such rescission or annulment shall affect any subsequent Event
of Default or impair any right consequent thereon.

 

4.          Section
4. Conversion.

 

(a)   (i)   Holder's
Conversion Right. At any time after issuance of this Note, this Note, including interest and principal, shall be convertible into
shares of Common Stock at 40% discount off the lowest traded intraday price during the prior 10 trading days to a notice of conversion.

 

The Holder shall effect conversions by
delivering to the Company the form of Notice of Conversion attached hereto as Annex A (a "Notice of Conversion"), specifying
the date on which such conversion is to be effected (a "Conversion Date"). If no Conversion Date is specified in a Notice
of Conversion, the Conversion Date shall be the date that such Notice of Conversion is provided hereunder. To effect conversions
hereunder, the Holder shall not be required to physically surrender Notes to the Company until the entire amount of this Note has
been satisfied. The Company shall deliver any objection to any Notice of Conversion within TWO (2) Business Days of receipt of
such notice. In the event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the
absence of manifest error.

 

The Holder and any
assignee, by acceptance of this Note, acknowledge and agree that, by reason of the provisions of this paragraph, following conversion
of a portion of this Note, the unpaid and unconverted principal amount of this Note may be less than the amount stated on the face
hereof.

 

(ii)         [Intentionally
omitted]

 

(iii)        [Intentionally
omitted]

 

(iv)        [Intentionally
omitted]

 

    	 

    	 

    

 

(v)         If,
at any time while this Note is outstanding, (A) the Company effects any merger or consolidation of the Company with or into another
Person, (B) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions,
(C) any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common
Stock are permitted to tender or exchange their shares for other securities, cash or property, or (D) the Company effects any reclassification
of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged
for other securities, cash or property (in any such case, a "Fundamental Transaction"), then upon any subsequent conversion
of this Note, the Holder shall have the right to receive, for each Underlying Share that would have been issuable upon such conversion
absent such Fundamental Transaction, the same kind and amount of securities, cash or property as it would have been entitled to
receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to such Fundamental Transaction,
the holder of one share of Common Stock (the "Alternate Consideration"). For purposes of any such conversion, the determination
of the Set Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Set Price
among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental
Transaction, then the Holder shall be given the same choice as to the Alternate consideration it receives upon any conversion of
this Note following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor
to the Company or surviving entity in such Fundamental Transaction shall issue to the Holder a new note consistent with the foregoing
provisions and evidencing the Holder's right to convert such note into Alternate Consideration. The terms of any agreement pursuant
to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to comply with
the provisions of this paragraph and insuring that this Note (or any such replacement security) will be similarly adjusted upon
any subsequent transaction analogous to a Fundamental Transaction. If any Fundamental Transaction constitutes or results in a Change
of Control Transaction, then at the request of the Holder delivered before the 90th day after such Fundamental Transaction,
the Company (or any such successor or surviving entity) will purchase the Note from the Holder for a purchase price, payable in
cash within 5 trading days after such request (or, if later, on the effective date of the Fundamental Transaction), equal to the
200% of the remaining unconverted principal amount of this Note on the date of such request, plus all accrued and unpaid interest
thereon, plus all other accrued and unpaid amounts due hereunder.

 

(b)          The
Company covenants that it will at all times; reserve and keep available out of its authorized and unissued shares of Common Stock
sufficient numbers of shares of Common Stock for the purpose of issuance upon conversion of this Note.

 

(c)          Any
and all notices or other communications or deliveries to be provided by the Holders hereunder, including, without limitation, any
Notice of Conversion, shall be in writing and delivered personally, by facsimile, sent by a nationally recognized overnight courier
service, addressed to the Company, at the address set forth or such other address or facsimile number as the Company may specify
for such purposes by notice to the Holders delivered in accordance with this Section. Any and all notices or other communications
or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile, sent by a nationally
recognized overnight courier service addressed to each Holder at the facsimile telephone number or address of such Holder appearing
on the books of the Company, or if no such facsimile telephone number or address appears, at the principal place of business of
the Holder. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i)
the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone number specified
in this Section prior to 5:30 p.m. (New York City time), (ii) the date after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile telephone number specified in this Section later than 5:30 p.m. (New York City time)
on any date and earlier than 11:59 p.m. (New York City time) on such date, (iii) the second Business Day following the date of
mailing, if sent by nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice
is required to be given.

 

    	 

    	 

    

 

(d)          Notwithstanding
anything to the contrary herein contained, the Holder may not convert this Note 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 Securities
Exchange Act of 1934, as amended (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 such conversion and held by the Holder after
application of this section. The provisions of this section may be waived by the Holder (but only as to itself and not to any other
Holder) upon not less than 61 days prior notice to the Company. Other Holders shall be unaffected by any such waiver.

 

5.          [Intentionally
omitted]

 

6.          No
Waiver of Payee’s Rights. All payments of principal and interest shall be made without setoff, deduction or counterclaim.
No delay or failure on the part of the Payee in exercising any of its options, powers or rights, nor any partial or single exercise
of its options, powers or rights shall constitute a waiver thereof or of any other option, power or right, and no waiver on the
part of the Payee of any of its options, powers or rights shall constitute a waiver of any other option, power or right. Maker
hereby waives presentment of payment, protest, and all notices or demands in connection with the delivery, acceptance, performance,
default or endorsement of this Note. Acceptance by the Payee of less than the full amount due and payable hereunder shall in no
way limit the right of the Payee to require full payment of all sums due and payable hereunder in accordance with the terms hereof.

 

7.          Modifications.
No term or provision contained herein may be modified, amended or waived except by written agreement or consent signed by the party
to be bound thereby.

 

8.          Cumulative
Rights and Remedies; Usury. The rights and remedies of Payee expressed herein are cumulative and not exclusive of any rights
and remedies otherwise available under this. The election of Payee to avail itself of any one or more remedies shall not be a bar
to any other available remedies, which Maker agrees Payee may take from time to time. If it shall be found that any interest due
hereunder shall violate applicable laws governing usury, the applicable rate of interest due hereunder shall be reduced to the
maximum permitted rate of interest under such law.

 

9.          Use
of Proceeds. Maker shall use the proceeds from this Note hereunder for general working capital purposes.

 

10.         Collection
Expenses. If Payee shall commence an action or proceeding to enforce this Note, then Maker shall reimburse Payee for its costs
of collection and reasonable attorney’s fees incurred with the investigation, preparation and prosecution of such action
or proceeding.

 

    	 

    	 

    

 

11.         Severability.
If any provision of this Note is declared by a court of competent jurisdiction to be in any way invalid, illegal or unenforceable,
the balance of this Note shall remain in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless
remain applicable to all other persons and circumstances. If it shall be found that any interest or other amount deemed interest
due hereunder shall violate applicable laws governing usury, the applicable rate of interest due hereunder shall automatically
be lowered to equal the maximum permitted rate of interest.

 

12.         Successors
and Assigns. This Note shall be binding upon Maker and its successors and shall inure to the benefit of the Payee and its successors
and assigns. The term "Payee" as used herein, shall also include any endorsee, assignee or other holder of this Note.

 

13.         Lost
or Stolen Promissory Note. If this Note is lost, stolen, mutilated or otherwise destroyed, Maker shall execute and deliver
to the Payee a new promissory note containing the same terms, and in the same form, as this Note. In such event, Maker may require
the Payee to deliver to Maker an affidavit of lost instrument and customary indemnity in respect thereof as a condition to the
delivery of any such new promissory note.

 

14.         Due
Authorization. This Note has been duly authorized, executed and delivered by Maker and is the legal obligation of Maker, enforceable
against Maker in accordance with its terms except as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally. No
consent of any other party and no consent, license, approval or authorization of, or registration or declaration with, any governmental
authority, bureau or agency is required in connection with the execution, delivery or performance by the Maker, or the validity
or enforceability of this Note other than such as have been met or obtained. The execution, delivery and performance of this Note
and all other agreements and instruments executed and delivered or to be executed and delivered pursuant hereto or thereto or the
securities issuable upon conversion of this Note will not violate any provision of any existing law or regulation or any order
or decree of any court, regulatory body or administrative agency or the certificate of incorporation or by-laws of the Maker or
any mortgage, indenture, contract or other agreement to which the Maker is a party or by which the Maker or any property or assets
of the Maker may be bound.

 

15.         Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by
and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts
of law thereof. Each of Maker and Payee agree that all legal proceedings concerning the interpretations, enforcement and defense
of this Note shall be commenced in the state and federal courts sitting in the City of New York, Borough of Manhattan (the “New
York Courts”). Each of Maker and Payee hereby irrevocably submit to the exclusive jurisdiction of the New York Courts
for the adjudication of any dispute hereunder (including with respect to the enforcement of this Note), 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 any such court, that such suit, action or proceeding is improper. Each of Maker and Payee hereby irrevocably waive 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 the other at the address in effect for notices to it under
this Note and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each of Maker and Payee hereby
irrevocably waive, 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 Note or the transactions contemplated hereby.

 

    	 

    	 

    

 

16.         Further
Assurances. Maker and Payee shall use reasonable efforts to (i) take all actions necessary or appropriate to consummate the
transactions contemplated by this Note and (ii) cause the fulfillment at the earliest practicable date of all of the conditions
to their respective obligations to consummate the transactions contemplated by this Note. In addition, the Maker shall use reasonable
efforts to cause its’ transfer agent to remove the restrictive legend from shares issuable upon conversion of this Note subject
to compliance with Rule 144 and any transfer agent instructions and to provide reasonable assistance to the Maker in satisfying
any requirements of the Maker’s clearing firm.

 

    	 

    	 

    

 

The undersigned signs this Note as a maker
and not as a surety or guarantor or in any other capacity.

 

	 	BLUE SPHERE CORP.
	 	 
	 	By:	 	 
	 	Name: SHLOMO PALAS	 
	 	Title: CEO	 
	 	 	 
	 	BEAUFORT CAPITAL PARTNERS LLC	 
	 	 	 
	 	By:	 	 
	 	ROBERT MARINO	 
	 	MANAGING MEMBER	 

 

    	 

    	 

    

 

SAMPLE NOTICE OF CONVERSION

 

The undersigned hereby elects to convert
principal under the Original Issue Discount Promissory Note of BLUE SPHERE CORP. (the “Company”) dated 08/28/2014 into
shares of common stock (the "Common Stock") according to the conditions hereof, as of the date written below. If shares
are to be issued in the name of a person other than the undersigned, the undersigned will pay a reasonable transfer expense payable
with respect thereto. No fee will be charged to the Payee for any conversion, except for such transfer expense, if any.

 

Conversion calculations:

 

Company Name: BLUE SPHERE CORP.

Date to Effect Conversion: ___/____/___

 

Conversion
Price: $ _____

 

Principal Amount of Agreement to be converted:
$ ______________

 

Interest Amount of Agreement to be converted: $________________

 

Number of shares of Common Stock to be issued: ______________

 

Principal to Remain: $___________________

 

	By:	 	 	 
	Name: ROBERT MARINO
	Title: MANAGING MEMBER
	 
	BEAUFORT CAPITAL PARTNERS LLC
	660 White Plains Rd, Suite 455
	Tarrytown, NY 10591

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