Document:

Exhibit
10.10

 

STOCK
PURCHASE AGREEMENT

This
STOCK PURCHASE AGREEMENT (the “Agreement”), dated as of March 8, 2016 (the “Effective Date”), by
and between Minerco, Inc., a Nevada corporation, with headquarters located at 800 Bering Drive, Suite #201, Houston, Texas
77057 (the “Company”), and Bryce Schmidt, an individual, at the address set forth on the signature page of
this Agreement (the “Buyer”).

 

WHEREAS:

 

A.          The Company is a publicly traded company on the Over the Counter Markets and lists common stock shares, par value $.001, under
symbol of OTC: MINE (the “Common Stock”);

 

B.           The Company and the Buyer are executing and delivering this Agreement in accordance with and in reliance upon the exemption from
securities registration afforded, inter alia, by Regulation 506 under Regulation D (“Regulation D”) as promulgated
by the United States Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the
“1933 Act”), and/or Section 4(2) of the 1933 Act;

 

C.           Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement,
625,000 restricted shares of the Company’s Common Stock (the “Shares”);

 

D.           The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such Purchased Common Stock is set forth
immediately below its name on the signature pages hereto; and

 

NOW
THEREFORE, in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.             Purchase and Sale of Common Stock.

 

a.               Purchase of Common Stock. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the
Buyer agrees to purchase from the Company the Shares as is set forth on the signature pages hereto.

 

b.               Purchase Price. The Shares, purchased by Buyer and issued by the Company, will be duly authorized, fully paid and non-assessable
at a price of $0.02 per share.

 

c.               Form of Payment. The Buyer shall pay the purchase price for the Shares by wiring immediately available good funds in United
States Dollars to the Company as set forth in Exhibit A.

 

    	 		 

     

    

 

d.              On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Shares to be issued and sold to it
at the Closing (as defined below), and (ii) the Company shall deliver such duly issued Shares of the Company, to the Buyer,
against delivery of such Purchase Price.

 

e.              Closing Date. The date and time of the issuance and sale of the Shares pursuant to this Agreement (the “Closing Date”)
shall be on or after the Effective Date (as defined above) at which time the Shares shall be issued by the Company and the Purchase
Price paid by the Buyer, or such other mutually agreed upon time. The closing of the transaction contemplated by this Agreement
(the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties.

 

2.            Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.              Investment Purpose. As of the date hereof, the Buyer is purchasing the Shares for its own account and not with a present
view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under
the 1933 Act; provided, however, that by making the representations herein, the Buyer does not agree to hold any
of the Shares for any minimum or other specific term and reserves the right to dispose of the Shares at any time in accordance
with or pursuant to a registration statement or an exemption under the 1933 Act.

 

b.             Accredited Investor Status. The Buyer is (i) an “accredited investor” as that term is defined in Rule 501 of
the General Rules and Regulations under the 1933 Act by reason of Rule 501(a)(3), and (ii) experienced in making investments of
the kind described in this Agreement and the related documents, (iii) able, by reason of the business and financial experience
of its officers (if an entity) and professional advisors (who are not affiliated with or compensated in any way by the Company
or any of its affiliates or selling agents), to protect its own interests in connection with the transactions described in this
Agreement, and the related documents, and (iv) able to afford the entire loss of its investment in the Note;

 

c.              Reliance on Exemptions. The Buyer understands that the Shares are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
upon the truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility
of the Buyer to acquire the Shares.

 

d.             Information. The Buyer and its advisors, if any, have been, and for so long as the Shares have not been sold, transferred
or assigned to a third party will continue to be, furnished with all materials relating to the business, finances and operations
of the Company and materials relating to the offer and sale of the Shares which have been requested by the Buyer or its advisors.
The Buyer and its advisors, if any, have been, and for so long as the Shares have not been sold, transferred or assigned to a
third party will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding the foregoing, the
Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information unless such information
is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries nor any other due
diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or affect Buyer’s
right to rely on the Company’s representations and warranties contained in Section 3 below. The Buyer understands that its
investment in the Shares involves a significant degree of risk. The Buyer is not aware of any facts that may constitute a breach
of any of the Company's representations and warranties made herein.

 

    	 	2	 

     

    

 

e.             Governmental Review. The Buyer understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

f.              Transfer or Re-sale. The Buyer understands that (i) the sale or re-sale of the Shares has not been and is not being registered
under the 1933 Act or any applicable state securities laws, and the Shares may not be transferred unless (a) the Shares are
sold pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to the Company,
at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in
comparable transactions to the effect that the Shares to be sold or transferred may be sold or transferred pursuant to an exemption
from such registration, which opinion shall be accepted by the Company, (c) the Shares are sold or transferred to an “affiliate”
(as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)) of the Buyer who agrees
to sell or otherwise transfer the Shares only in accordance with this Section 2(f) and who is an Accredited Investor, (d) the
Shares are sold pursuant to Rule 144, or (e) the Shares are sold pursuant to Regulation S under the 1933 Act (or a successor
rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at the cost of the Buyer, an opinion of
counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions, which opinion
shall be accepted by the Company; (ii) any sale of such Shares made in reliance on Rule 144 may be made only in accordance with
the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Shares under circumstances in which the
seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the 1933 Act)
may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder; and (iii)
neither the Company nor any other person is under any obligation to register such Shares under the 1933 Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the foregoing or anything
else contained herein to the contrary, the Shares may be pledged as collateral in connection with a bona fide margin account
or other lending arrangement.

 

    	 	3	 

     

    

 

g.             Legends. The Buyer understands that the Shares have not been registered under the 1933 Act and may bear a restrictive legend
in substantially the following form (and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for
sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation
S without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Shares,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with
respect to the transfer of Shares pursuant to an exemption from registration, such as Rule 144 or Regulation S, the Company will
notify the Buyer within 2 business days.

 

h.             Authorization; Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed
and delivered on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in
accordance with its terms.

 

i.              Residency. The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature
pages hereto.

 

    	 	4	 

     

    

 

3.             Representations and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.             Organization and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted.

 

b.             Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this
Agreement, the Shares and to consummate the transactions contemplated hereby and thereby and to issue the Shares, in accordance
with the terms hereof and thereof, (ii) the execution and delivery of this Agreement, the Shares issued by the Company and the
consummation by it of the transactions contemplated hereby and thereby (including without limitation, the issuance of the Shares)
have been duly authorized by the Company’s Board of Directors and no further consent or authorization of the Company, its
Board of Directors, or its shareholders is required, (iii) this Agreement has been duly executed and delivered by the Company
by its authorized representative, and such authorized representative is the true and official representative with authority to
sign this Agreement and the other documents executed in connection herewith and bind the Company accordingly, and (iv) this Agreement
constitutes, and upon execution and delivery by the Company of the Shares, each of such instruments will constitute, a legal,
valid and binding obligation of the Company enforceable against the Company in accordance with its terms.

 

c.             Issuance of Shares. The Shares are duly authorized will be validly issued, fully paid and non-assessable, and free from
all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other
similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

d.             Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock
upon the issuance of the Shares.

 

e.             No Conflicts. The execution, delivery and performance of this Agreement, the Shares by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby will not (i) conflict with or result in a violation of any
provision of the Certificate of Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision
of, or constitute a default (or an event which with notice or lapse of time or both could become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture, patent, patent license
or instrument to which the Company or any of its Subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation,
order, judgment or decree (including federal and state securities laws and regulations and regulations of any self-regulatory
organizations to which the Company or its securities are subject) applicable to the Company or any of its Subsidiaries or by which
any property or asset of the Company or any of its Subsidiaries is bound or affected (except for such conflicts, defaults, terminations,
amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse
Effect). 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 is not in violation of the listing
requirements of the Over-the-Counter Markets (the “OTC”) and does not reasonably anticipate that the Common Stock
will be delisted by the OTC in the foreseeable future, nor are the Company’s securities “chilled” by DTC or
FINRA. The Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

    	 	5	 

     

    

 

f.              Absence of Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public
board, government agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries,
threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in their capacity as such,
that could have a Material Adverse Effect. Schedule 3(f) contains a complete list and summary description of any pending or, to
the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without regard
to whether it would have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

g.             Acknowledgment Regarding Buyer’s Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting
solely in the capacity of arm’s length purchasers 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 statement made by the Buyer or any of
its respective representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice
or a recommendation and is merely incidental to the Buyer’ purchase of the 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 of the
Company and its representatives.

 

h.            No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has
directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances
that would require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities
to the Buyer will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes
of any shareholder approval provisions applicable to the Company or its securities.

 

i.             Title to Property. The Company and its Subsidiaries have good and marketable title in fee simple to all real property and
good and marketable title to all personal property owned by them which is material to the business of the Company and its Subsidiaries,
in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(i) or such as would
not have a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are
held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

 

j.             Bad Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended
on the basis of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance
Guide published by the Securities and Exchange Commission.

 

    	 	6	 

     

    

 

4.            Certain Covenants and Acknowledgements.

 

a.            Filings. The Company undertakes and agrees to make all necessary filings in connection with the sale of the Shares to the
Buyer under any United States laws and regulations, or by any domestic securities exchange or trading market, and to provide a
copy thereof to the Buyer promptly after such filing.

 

b.           Use of Proceeds. The Company will use the proceeds from the sale of the Shares for the Company’s working capital
purposes and payment of expenses associated within its business model.

 

5.           Governing Law; Miscellaneous.

 

a.            Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Nevada.
A facsimile transmission of this signed Agreement shall be legal and binding on all parties hereto. This Agreement may be signed
in one or more counterparts, each of which shall be deemed an original. 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 or the validity or enforceability of this Agreement in any other jurisdiction. This Agreement
may be amended only by an instrument in writing signed by the party to be charged with enforcement. This Agreement supersedes
all prior agreements and understandings among the parties hereto with respect to the subject matter hereof.

 

b.            Counterparts; Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original but all of which shall constitute one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to
the other party hereto by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

 

c.            Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the
interpretation of, this Agreement.

 

d.            Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute
or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any
law shall not affect the validity or enforceability of any other provision hereof.

 

e.            Entire Agreement; Amendments. 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 the 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 majority in interest of the Buyer.

 

    	 	7	 

     

    

 

f.            Notices. Any notice required or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall
be deemed effectively given, (i) on the date delivered, (a) by personal delivery, or (b) if advance copy is given by fax, (ii)
seven business days after deposit in the United States Postal Service by regular or certified mail, or (iii) three business days
mailing by international express courier, with postage and fees prepaid, addressed to each of the other parties thereunto entitled
at the following addresses, or at such other addresses as a party may designate by ten days advance written notice to each of
the other parties hereto.

 

If
to the Company, to:

Minerco,
Inc.

800
Bering Drive

Suite
201

Houston,
Texas 77057

Attn:
V. Scott Vanis, CEO

 

with
a copy to:

Gracin
& Marlow, LLP

405
Lexington Avenue, 26th Floor

New
York, New York 10174

Attention:
Leslie Marlow, Esq.

Facsimile:
(212) 208-4657

 

If
to the Buyer:

 

At
the address set forth on the signature page of this Agreement.

 

Each
party shall provide notice to the other party of any change in address.

 

g.            Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the
prior written consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that
purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined
under the 1934 Act, without the consent of the Company.

 

h.            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.             Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement
shall survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The
Company agrees to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage
arising as a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and
covenants set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses
as they are incurred.

 

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.            No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

  

[Intentionally
Left Blank – Signature Page Follows}

 

    	 	8	 

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the Buyer or one of its officers thereunto duly authorized as of
the date set forth below.

 

For
625,000 shares of the Company’s Common Stock at a price of $0.02 per share, the Buyer tenders herewith the full Purchase
Price of $12,500.00.

 

Buyer:

 

	Bryce
    Schmidt	 	Address:	40
    Carlton St, #16
	Printed Name of Buyer	 	 	
	 		 	 	Brookline,
    MA 02446
	 	 	 	 	 
	 	 	 	 	 
	By:	/s/
    Bryce Schmidt	 	Email:	
	(Signature of Authorized Person)	 	 	 
	 	 	 	 	 
	 	 	 	 
	Taxpayer identification number	 	 	 
	or social security number, as applicable	 	 	 

 

This
Agreement has been accepted as of the date set forth below.

 

Company:

Minerco,
Inc.

  

	By:	/s/
    V. Scott Vanis	 
	 	V. Scott
    Vanis	 
	 	Chief Executive
    Officer	 

 

    	 	9	 

     

    

 

EXHIBIT
A

Minerco,
Inc. 

Wire
Instructions

  

	Bank:	Bank
    of America NA
	 	555 California
    St
	 	San Francisco,
    CA 94104
	 	 
	ABA:	026009593
	SWIFT Code:	BOFAUS3N
	 	 
	Account #:	3250 3958
    3590
	 	 
	Recipient:	Minerco,
    Inc.
	Address:	7620 Miramar
    Road, Suite 4200
	 	San
    Diego, CA 92126

 

 

10Exhibit
10.11

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

CONVERTIBLE
PROMISSORY NOTE

	Principal Amount: U.S.
    $12,500.00	Dated: March 8, 2016
	 	 
	Purchase Price:      U.S.
    $12,500.00	Issued: July 1, 2016

FOR VALUE RECEIVED, Minerco,
Inc., a Nevada corporation (the “Maker”), hereby promises to pay to Bryce Schmidt, an individual, or his successors
and assigns (the “Payee”), at his address of record, or to such other address as Payee shall provide in writing
to the Maker for such purpose, a principal sum of Twelve Thousand Five Hundred Dollars and Zero Cents (U.S. $12,500.00). The aggregate
principal amount outstanding under this Note will be conclusively evidenced by the schedule annexed as Exhibit B hereto (the “Loan
Schedule”), up to a maximum principal amount of U.S $12,500.00. The entire principal amount hereunder shall be due and
payable on September 8, 2016 (the “Maturity Date”), or on such earlier date as such principal amount may earlier
become due and payable pursuant to the terms hereof.

1.              
Purchase Price. The Maker and Payee agree the Purchase Price was delivered under a certain Stock Purchase Agreement,
dated March 8, 2016, for consideration of $12,500, which was exchanged for this Note according to a certain Exchange Agreement,
dated July 1, 2016 between the Maker and the Payee, attached as Exhibit A hereto. 

2.          Interest
Rate. Interest shall accrue on the unpaid principal amount of this Convertible Promissory Note (the “Note”)
at the rate of eight percent (8%) per annum from the date of the first making of the loan for such principal amount until such
unpaid principal amount is paid in full or earlier converted into shares (the “Shares”) of the Maker’s
common stock (the “Common Stock”) in accordance with the terms hereof. Interest hereunder shall be paid on
such date as the principal amount under this Note becomes due and payable or is converted in accordance with the terms hereof
and shall be computed on the basis of a 360-day year for the actual number of days elapsed.

    	 		 

     

    

3.          Conversion of Principal and Interest. Subject to the terms and conditions hereof, the Payee, at its sole option, may deliver
to the Maker a notice in the form attached hereto as Exhibit C (a “Conversion Notice”) and an updated Loan
Schedule, at any time and from time to time after the date hereof and prior to the payment of the principal amount and all accrued
interest thereon (the date of the delivery of a Conversion Notice shall be referred to herein as a “Conversion Date”),
to convert all or any portion of the outstanding principal amount of this Note plus accrued and unpaid interest thereon, for a
number of Shares equal to the quotient obtained by dividing the dollar amount of such outstanding principal amount of this Note
plus the accrued and unpaid interest thereon being converted by the Conversion Price (as defined in Section 15). Conversions hereunder
shall have the effect of lowering the outstanding principal amount of this Note plus all accrued and unpaid interest thereunder
in an amount equal to the applicable conversion, which shall be evidenced by entries set forth in the Conversion Notice and the
Loan Schedule.

4.          Certain Conversion Limitations. The Payee may not convert an outstanding principal amount of this Note or accrued and unpaid
interest thereon to the extent such conversion would result in the Payee, together with any affiliate thereof, beneficially owning
(as determined in accordance with Section 13(d) of the Exchange Act (as defined in Section 15) and the rules promulgated thereunder)
in excess of 4.999% of the then issued and outstanding shares of Common Stock. Since the Payee will not be obligated to report
to the Maker 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 beneficial ownership in excess of 4.999% of the then outstanding shares of Common Stock (inclusive of
any other shares which may be beneficially owned by the Payee or an affiliate thereof), the Payee shall have the authority and
obligation to determine whether and the extent to which the restriction contained in this Section will limit any particular conversion
hereunder. The Payee may waive the provisions of this Section upon not less than 75 days prior notice to the Maker.

5.          Deliveries. Not later than five (5) Trading Days (as defined in Section 15) after any Conversion Date, the Maker will deliver
to the Payee (i) a certificate or certificates representing the number of Shares being acquired upon the conversion of the principal
amount of this Note and any interest accrued thereunder being converted pursuant to the Conversion Notice (subject to the limitations
set forth in Section 3 hereof), and (ii) an endorsement by the Maker of the Loan Schedule acknowledging the remaining outstanding
principal amount of this Note plus all accrued and unpaid interest thereon not converted (an “Endorsement”).
The Maker’s delivery to the Payee of stocks certificates in accordance clause (i) above shall be Maker’s conclusive
endorsement of the remaining outstanding principal amount of this Note plus all accrued and unpaid interest thereon not converted
as set forth in the Loan Schedule.

6.          Prepayment
Right. Notwithstanding anything to the contrary contained in this Note, at any time during the period beginning on the Issue
Date and ending on the date which is six (6) months following the Issue Date, the Borrower shall have the right, exercisable on
not less than three (3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal
and accrued interest), in full, in accordance with this Section 5. Any notice of prepayment hereunder (an “Optional Prepayment
Notice”) shall be delivered to the Holder of the Note at its registered addresses and shall state: (1) that the Borrower
is exercising its right to prepay the Note, and (2) the date of prepayment which shall be not more than three (3) Trading Days
from the date of the Optional Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”),
the Borrower shall make payment of the Optional Prepayment Amount (as defined below) to or upon the order of the Holder as specified
by the Holder in writing to the Borrower at least one (1) business day prior to the Optional Prepayment Date. If the Borrower
exercises its right to prepay the Note, the Borrower shall make payment to the Holder of an amount in cash (the “Optional
Prepayment Amount”) equal to one hundred fifty percent (150%), multiplied by the sum of: (w) the then outstanding principal
amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the Optional Prepayment
Date plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and (x). If the Borrower delivers an Optional
Prepayment Notice and fails to pay the Optional Prepayment Amount due to the Holder of the Note within two (2) business days following
the Optional Prepayment Date, the Borrower shall forever forfeit its right to prepay the Note pursuant to this Section 5.

    	 	2	 

     

    

7.          No Adjustments. If the Maker, at any time while any portion of the principal amount due under this Note is outstanding,
(a) shall pay a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity
or equity equivalent securities payable in shares of Common Stock, (b) subdivide outstanding shares of Common Stock into a larger
number of shares, (c) combine (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number
of shares, or (d) issue by reclassification of shares of the Common Stock any shares of capital stock of the Maker, then the Conversion
Price (as defined in Section 15) shall not be adjusted.

8.          No Waiver of Payee’s Rights, etc. 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. The Maker hereby waives presentment of payment, protest, and 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.

9.          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.

10.        Cumulative Rights and Remedies; Usury. The rights and remedies of the Payee expressed herein are cumulative and not exclusive
of any rights and remedies otherwise available. If it shall be found that any interest outstanding hereunder shall violate applicable
laws governing usury, the applicable rate of interest outstanding hereunder shall be reduced to the maximum permitted rate of
interest under such law.

11.        Collection Expenses. If this obligation is placed in the hands of an attorney for collection after default, and provided
the Payee prevails on the merits in respect to its claim of default, the Maker shall pay (and shall indemnify and hold harmless
the Payee from and against), all reasonable attorneys’ fees and expenses incurred by the Payee in pursuing collection of
this Note.

12.        Successors
and Assigns. This Note shall be binding upon the 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.

    	 	3	 

     

    

13.        Lost or Stolen Promissory Note. If this Note is lost, stolen, mutilated or otherwise destroyed, the 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, the
Maker may require the Payee to deliver to the 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 the Maker and is the legal obligation
of the Maker, enforceable against the Maker in accordance with its terms.

15.        Governing Law. This Note shall be governed by and construed and enforced in accordance with the internal laws of the State
of Nevada without regard to the principles of conflicts of law thereof.

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

“Business
Day” means any day except Saturday, Sunday and any day that is a legal holiday or a day on which banking institutions
in the State of New York or State of Nevada are authorized or required by law or other government action to close.

 

“Conversion
Price” shall be $0.01 per share or 50% of the lowest Per Share Market Value of the five (5) Trading Days immediately
preceding a Conversion Date, whichever is lower.

 

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

 

“Trading
Day” means (a) a day on which the shares of Common Stock are traded on such Subsequent Market on which the shares of
Common Stock are then listed or quoted, or (b) if the shares of Common Stock are not listed on a Subsequent Market, a day on which
the shares of Common Stock are traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (c) if the shares
of Common Stock are not quoted on the OTC Bulletin Board, a day on which the shares of Common Stock are quoted in the over-the-counter
market as reported by the National Quotation Bureau Incorporated (or any similar organization or agency succeeding its functions
of reporting prices); provided, however, that in the event that the shares of Common Stock are not listed or quoted as set forth
in (a), (b) and (c) hereof, then Trading Day shall mean any day except Saturday, Sunday and any day which shall be a legal holiday
or a day on which banking institutions in the State of New Hampshire are authorized or required by law or other government action
to close. 

 

[Intentionally
Left Blank – Signature Page Follows]

 

    	 	4	 

     

    

 

IN
WITNESS WHEREOF, the Maker has caused this Convertible Promissory Note to be duly executed and delivered as of the date first
set forth above.

 

	 	MINERCO, INC.
	 	 	 
	 	By:	/s/ V. Scott Vanis
	 	Name:	V. Scott Vanis
	 	Title:	Chief Executive Officer

 

    	 	5	 

     

    

 

EXHIBIT
A

 

EXCHANGE
AGREEMENT, DATED JULY 1, 2016 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	Ex-1	 

     

    

 

EXHIBIT
B

 

LOAN
SCHEDULE

 

Convertible
Promissory Note Issued by Minerco, Inc.

 

Dated:
___________________

 

SCHEDULE

OF

CONVERSIONS
AND PAYMENTS OF PRINCIPAL

	Date
    of Conversion	Amount
    of Conversion	Total
                                         Amount Due Subsequent

        To
        Conversion

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    	 	Ex-2	 

     

    

 

EXHIBIT
C

NOTICE
OF CONVERSION

Dated:
_________________

The
undersigned hereby elects to convert the principal amount and interest indicated below of the attached Convertible Promissory
Note into shares of common stock (the “Common Stock”), of Minerco, Inc., according to the conditions hereof,
as of the date written below. No fee will be charged to the holder for any conversion.

Exchange
calculations: ______________________________________________

 

Date
to Effect Conversion: ___________________________________________

Principal
Amount and Interest of

Secured
Convertible Note to be Converted: ______________________________

 

Number
of shares of Common Stock to be Issued: _________________________

 

Applicable
Conversion Price:

Signature:
__________________________________________

Name:_____________________________________________

Address:____________________________________________

Ex-3

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