Document:

bioadaptives_ex102.htm

EXHIBIT 10.2
 
LICENSE AGREEMENT
 
THIS LICENSE AGREEMENT (the "Agreement") is entered into by and between Ferris Holding, Inc. a Nevada corporation ("Licensor"), and BioAdaptives, Inc., a Delaware corporation ("Licensee").
 
SECTION 1: SCOPE OF THIS AGREEMENT
 
1.1 This licensing agreement allows Licensee the non-exclusive use of Licensor's trade secrets regarding its proprietary products, including its stem cell enhancing product.
 
1.2 This License Agreement is a contract for use of Licensor's proprietary processes and trade secrets and shall not be construed as a lease. Licensee expressly waives all rights and defenses based on any and all theories, assertions, or position that this Agreement or any part thereof is a lease.
 
SECTION 2: TERMS OF PAYMENT
 
2.1 The initial term of this Agreement shall be for six (6) months commencing upon signing of the agreement, ("Commencement Date"), and ending at midnight on the date that is six months following the Commencement Date ("Termination Date"). In consideration for receiving this agreement, Licensee agrees to pay Licensor a royalty of 5% of the gross revenue for the products produced and sold by Licensee pursuant to the rights granted under this Agreement. Licensor and Licensee may mutually consent to renew this Agreement with the same terms and conditions.
 
2.2 Licensee agrees that it will maintain the confidentiality of all aspects of Licensor's trade secrets, proprietary process, materials, software, curriculum and course materials, etc. during the terms of this agreement and perpetually after the termination of this agreement.
 
2.3 Licensee shall provide Licensor with a monthly accounting of all gross revenue, gross revenue is defined as gross sold price minus shipping, handling, and taxes. The monthly accounting and any payments are due on the fifteenth of the following months. Licensor has the right to audit Licensee's accounting records upon three (3) days written notice.
 
SECTION 3: TERMINATION OF LICENSE
 
3.1 The parties may terminate this Agreement (i) by mutual agreement; or (ii) in the event that the other party breaches any material provision of this Agreement and/or Licensor’s policies and procedures and such breach continues for a period exceeding twenty (20) calendar days following the receipt by the defaulting party of a written notice of such breach; or (iii) by Licensor upon 30 days’ written notice to Licensee; or (iv) in the event that the other party becomes insolvent, is adjudicated bankrupt, voluntary or involuntary files a petition of bankruptcy, makes an assignment for benefit of creditors, seeks any other similar relief under any bankruptcy law accordance with the terms of this Agreement, and such judgment, assignment or incapacity is not revoked with sixty (60) calendar days.
 
3.2 Licensee shall be liable to Licensor for all royalties up to the Termination Date of this Agreement. If any payment is not received by twenty (20) days from the due date Licensor shall notify Licensee of breach and Licensee shall have five (5) days from the date of notification to cure or the agreement may be cancelled or remain in force at the sole discretion of the Licensor.
 
	 
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SECTION 4: PRODUCT DEVELOPMENT AND PROMOTIONS
 
4.1 Licensee and Licensor agree to work together regarding announcement of this agreement in press releases, which will include the fact that Licensor has signed a new six month agreement with the Licensee.
 
4.2 Licensee shall provide Licensor with any advertising copy or materials for content for review and approval prior to such being used/produced/released. Approval of same shall not be unreasonably withheld and decision approving or denying shall be made within forty-eight hours of such copy, materials and/or documents. In the event that approval is not granted and Licensee uses/produces/releases publicly any such advertising and/or promotional materials, Licensor reserves the right to enjoin such publication and/or seek arbitration for damages Licensor's reputation.
 
SECTION 5: DISCLOSURE OF TRADE SECRETS
 
5.1 Both parties agree not to disclose to any Prohibited Persons any Trade Secrets, directly or indirectly, and whether for compensation or no compensation, without the express written consent of the other party. Any such written consent shall be strictly construed in its scope and interpretation against disclosure of Trade Secrets, shall be strictly construed in its scope to maximize the definition of Prohibited Persons, and shall be strictly construed in its scope to limit the amount of information which constitutes Trade Secrets.
 
SECTION 6: DAMAGES AND REMEDIES FOR DISCLOSURE
 
6.1 Both parties acknowledge that a violation of the terms of this Agreement will cause damage and harm to the other party, including but not limited to loss of competitive advantage, loss of revenue, increase in costs, and other harm not yet ascertainable to Owner and to Consultant. Both parties acknowledge that any such damages set forth above will be difficult if not impossible to calculate in monetary terms, and will be irreparable to either party. Both parties agree that in the event of a breach of this Agreement, either party will not oppose a request for equitable relief, including any affirmative temporary restraining order, with or without notice; any preliminary injunction; and/or a permanent order to enjoin any further violations of this Agreement, in addition to any prayer for monetary relief for damages suffered by the other party.
 
6.2 Both parties agree that upon written notice from the other party declaring a breach of this Agreement, that the other party shall immediately cease all further activities, which are, or are claimed by the other party to be, a breach of this Agreement.
 
6.3 Both parties agree that should there be any dispute or difference arising out of or in connection with this contract shall be determined by the appointment of a single arbitrator to be agreed between the parties, or failing agreement within fourteen days, after either party has given to the other a written request to concur in the appointment of an arbitrator, by an arbitrator to be appointed by the President or a Vice President of the American Arbitration Association. Both parties agree that arbitration shall be the sole recourse for non-injunctive claims.
 
	 
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SECTION 7: REPRESENTATIONS, WARRANTIES AND COVENANTS OF LICENSOR
 
7.1 Licensor represents, warrants, and covenants that Licensor is in compliance with all laws applicable to its Product(s), trade names, trademarks, logos, labels or other intellectual property within the United States.
 
SECTION 8: REPRESENTATIONS, WARRANTIES AND COVENANTS OF LICENSEE
 
8.1 Licensee represents, warrants, and covenants that Licensee has the authority and right to enter into this agreement and does so willingly.
 
SECTION 9: INDEMNIFICATION
 
9.1 Licensor's Indemnification. Licensor agrees to indemnify, defend and hold harmless Licensee, its affiliates, employees, directors, agents, representatives, successors and assigns from and against any losses, liabilities, costs, damages, claims, fines, penalties and expenses including, without limitations, costs of defense or settlement and reasonable attorney's, consultant's, and expert's fees that arise out of or result from any breach of representation or warranty by Licensor to perform its obligations under this Agreement.
 
9.2 Licensee's Indemnification. Licensee agrees to indemnify, defend and hold harmless the Licensor, its affiliates, employees, directors, agents, representatives, successors and assigns from and against any losses, liabilities, costs, damages, claims, fines, penalties and expenses including, without limitations, costs of defense or settlement and reasonable attorney's, consultant's, and expert's fees that arise out of or result from any breach of representation or warranty by Licensee to perform its obligations under this Agreement.
 
SECTION 10: ASSIGNABILITY OF AGREEMENT
 
10.1 Licensor shall have the right to assign this Agreement at its sole discretion.
 
10.2 Licensee shall not assign this Agreement without the prior written consent of Licensor, which will not be unreasonably withheld. Any attempt to assign this Agreement without the prior written consent of Licensor shall, at the sole option of Licensor, result in the immediate termination of this Agreement. No partial assignment shall be permitted.
 
SECTION 11: ATTORNEY'S FEES
 
11.1 If any legal action or proceeding, including any arbitration of disputes, arising out of, or relating to, this Agreement is brought by either party, the prevailing party as determined by the Court or Arbitrator, shall be entitled to receive from the non-prevailing party, in addition to any other relief that may be granted, reasonable attorney's fees, costs and expenses incurred in the action or proceeding by the prevailing party.
 
	 
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SECTION 12: NOTICES
 
12.1 All notices, consents, and other communications hereunder shall be in writing and shall be deemed to have been duly given as of the date of delivery or mailing, if delivered or mailed, first-class postage prepaid, that is certified or registered mail, return receipt requested, to the following addresses, unless contrary instructions are given by the parties in writing:
 
Licensor:
 
Ferris Holding
2251 N Rampart Blvd #182
Las Vegas, NV 89128
Fax ___________
ATTN: Barry Epling
 
With a copy to:
______________________
______________________
_______________________
 
Licensee:
BioAdaptives, Inc.
7251 West Lake Mead Blvd Suite 300
Las Vegas, NV 89128
Fax
ATTN: Gerald Epling
 
With a copy (which shall not constitute notice) to:
 
Durham Jones & Pinegar, P.C.
111 East Broadway, Suite 900
Salt Lake City, UT 84111
Fax: 801-415-3500
ATTN: Park Lloyd
 
SECTION 13: MISCELLANEOUS
 
13.1 Governing Law. This Agreement and the rights and obligations of the Parties shall be governed by the laws of the state of Nevada. All parties consent that venue for filing of any lawsuits brought hereunder shall be in Clark County, in the state of Nevada.
 
13.2 Place of Performance. Performance under this Agreement shall be deemed to be Clark County, in the state of Nevada.
 
13.3 If any legal action or proceeding, including any arbitration of disputes, arising out of, or relating to, this Agreement is brought by either party, the prevailing party as determined by the Court or Arbitrator, shall be entitled to receive from the non-prevailing party, in addition to any other relief that may be granted, reasonable attorney's fees, costs and expenses incurred in the action or proceeding by the prevailing party.
 
	 
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13.4 Severability. In the event any part of this Agreement is held to be void, voidable, or unenforceable for any reason whatsoever, the remainder of this Agreement not held void, voidable, or unenforceable by the court shall remain in full force and effect.
 
13.5 Counterparts. This Agreement may be executed in counterparts. If executed in counterparts, each shall be deemed an original and all, taken together, shall constitute one and the same instrument.
 
13 .6 Entire Agreement. This Agreement contains the entire agreement of the Parties and supersedes all existing negotiations, representations, or agreements oral or written.
 
13 .7 Modification. No change, modification, addition, or amendment to this Agreement shall be valid unless in writing and signed by all Parties hereto.
 
13 .8 Non-Waiver. Failure by either party to insist upon strict performance of any of the terms and conditions hereof, or delay to exercise any rights or remedies provided herein shall not release the other party from any of the obligations of this Agreement and shall not be deemed a waiver of any rights of such other party to insist upon strict performance thereof.
 
13.9 The headings of the Sections in this Agreement are for convenience only and shall not be deemed to affect, qualify, simplify, add to or subtract from the contents of the clauses which they reference.
 
The parties have executed this Agreement as of this 21st day of October, 2013.
 
Each of the signatories below swears and affirms that he is authorized to bind the above indicated entity to the terms and conditions of this Agreement.
 
	LICENSOR
	 
	LICENSEE
	 

	Ferris Holding Inc.
	 
	BioAdaptives, Inc.
	 

	 
	 
	 
	 

	By: 
	Barry Epling
	 
	By: 
	Gerald A. Epling
	 

	 
	CEO
	 
	 
	President
	 

 
 
	 
	5THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

US
$300,000.00

 

TAURIGA
SCIENCES, INC.

8%
CONVERTIBLE REDEEMABLE NOTE

DUE
MARCH 14, 2020

 

FOR
VALUE RECEIVED, Tauriga Sciences, Inc. (the “Company”) promises to pay to the order of GS CAPITAL PARTNERS, LLC and
its authorized successors and permitted assigns (“Holder”), the aggregate principal face amount of Three Hundred
Thousand Dollars exactly (U.S. $300,000.00) on March 14, 2020 (“Maturity Date”) and to pay interest on the
principal amount outstanding hereunder at the rate of 8% per annum commencing on March 14, 2019. The Company acknowledges this
Note was issued with a $20,000 original issue discount (OID) and as such the purchase price was $280,000.00. The interest will
be paid to the Holder in whose name this Note is registered on the records of the Company regarding registration and transfers
of this Note. The principal of, and interest on, this Note are payable at 30 Broad Street, Suite 1201 New York, NY 10004, initially,
and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof from time to time.
The Company will pay each interest payment and the outstanding principal due upon this Note before or on the Maturity Date, less
any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer addressed to such
Holder at the last address appearing on the records of the Company. The forwarding of such check or wire transfer shall constitute
a payment of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this Note to the extent
of the sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined below) pursuant to
paragraph 4(b) herein.

 

This
Note is subject to the following additional provisions:

 

1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested
by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange, except that
Holder shall pay any tax or other governmental charges payable in connection therewith.

 

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2.
The Company shall be entitled to withhold from all payments any amounts required to be withheld under applicable laws.

 

3.
This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended (“Act”)
and applicable state securities laws. Any attempted transfer to a non-qualifying party shall be treated by the Company as void.
Prior to due presentment for transfer of this Note, the Company and any agent of the Company may treat the person in whose name
this Note is duly registered on the Company’s records as the owner hereof for all other purposes, whether or not this Note
be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary. Any Holder of this
Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements set forth
in Section 4(a), and any prospective transferee of this Note, also is required to give the Company written confirmation that this
Note is being converted (“Notice of Conversion”) in the form annexed hereto as Exhibit A. The date of
receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion Date.

 

4.
(a) The Holder of this Note is entitled, at its option, at any time after cash payment, to convert all or any amount of the principal
face amount of this Note then outstanding into shares of the Company’s common stock (the “Common Stock”)
at a price (“Conversion Price”) for each share of Common Stock equal to 68% of the lowest daily
VWAP of the Common Stock (32% discount) as reported on the National Quotations Bureau OTC Markets exchange which the Company’s
shares are traded or any exchange upon which the Common Stock may be traded in the future (“Exchange”), for
the fifteen prior trading days including the day upon which a Notice of Conversion is received by the Company
or its transfer agent (provided such Notice of Conversion is delivered by fax or other electronic method of communication to the
Company or its transfer agent after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same
day closing price). If the shares have not been delivered within 3 business days, the Notice of Conversion may be rescinded. Such
conversion shall be effectuated by the Company delivering the shares of Common Stock to the Holder within 3 business days of receipt
by the Company of the Notice of Conversion. Accrued but unpaid interest shall be subject to conversion. No fractional shares or
scrip representing fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded to the
nearest whole share. To the extent the Conversion Price of the Company’s Common Stock closes below the par value
per share, the Company will take all steps necessary to solicit the consent of the stockholders to reduce the par value to the
lowest value possible under law. The Company agrees to honor all conversions submitted pending this increase. In the event
the Company experiences a DTC “Chill” on its shares, the conversion price shall be decreased to 58% instead of 68%
while that “Chill” is in effect. In no event shall the Holder be allowed to effect a conversion if such conversion,
along with all other shares of Company Common Stock beneficially owned by the Holder and its affiliates would exceed 9.9% of the
outstanding shares of the Common Stock of the Company.

 

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(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 8% per annum. Interest shall be paid by the
Company in Common Stock (“Interest Shares”). Holder may, at any time, send in a Notice of Conversion to the Company
for Interest Shares based on the formula provided in Section 4(a) above. The dollar amount converted into Interest Shares shall
be all or a portion of the accrued interest calculated on the unpaid principal balance of this Note to the date of such notice.

 

(c)
During the first six months this Note is in effect, the Company may redeem this Note by paying to the Holder an amount as follows:
(i) if the redemption is within the first 90 days this Note is in effect, then for an amount equal to 120% of the unpaid principal
amount of this Note along with any interest that has accrued during that period, (ii) if the redemption is after the 91st day
this Note is in effect, but less than the 180th day this Note is in effect, then for an amount equal to 133% of the unpaid principal
amount of this Note along with any accrued interest. This Note may not be redeemed after 180 days. The redemption must be closed
and paid for within 3 business days of the Company sending the redemption demand or the redemption will be invalid and the Company
may not redeem this Note. Such redemption must be closed and funded within 3 days of giving notice of redemption of the right
to redeem shall be null and void.

 

(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of
related transactions, (ii) a reclassification, capital reorganization or other change or exchange of outstanding shares of the
Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the Company
with or into another person or entity in which the Company is not the surviving entity (other than a merger which is effected
solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or exchange of
outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred to as
a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash for 150%
of the principal amount, plus accrued but unpaid interest through the date of redemption, or at the election of the Holder, such
Holder may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into shares
of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

(e)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection with
which this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder of this
Note shall have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and number of shares
of stock or other securities or property (including cash) receivable upon such reclassification, capital reorganization or other
change, consolidation or merger by a holder of the number of shares of Common Stock that could have been purchased upon exercise
of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such Sale Event. The foregoing provisions
shall similarly apply to successive Sale Events. If the consideration received by the holders of Common Stock is other than cash,
the value shall be as determined by the Board of Directors of the Company or successor person or entity acting in good faith.

 

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5.
No provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

6.
The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest, notice
of dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for
hereunder and shall be directly and primarily liable for the payment of all sums owing and to be owing hereto.

 

7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be incurred
by the Holder in collecting any amount due under this Note.

 

8.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company;
or

 

(b)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written statements
heretofore or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or
the Securities Purchase Agreement under which this note was issued shall be false or misleading in any respect; or

 

(c)
The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or obligation
of the Company under this Note or any other note issued to the Holder; or

 

(d)
The Company shall (1) become insolvent; (2) admit in writing its inability to pay its debts generally as they mature; (3) make
an assignment for the benefit of creditors or commence proceedings for its dissolution; (4) apply for or consent to the appointment
of a trustee, liquidator or receiver for its or for a substantial part of its property or business; (5) file a petition for bankruptcy
relief, consent to the filing of such petition or have filed against it an involuntary petition for bankruptcy relief, all under
federal or state laws as applicable; or

 

(e)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without
its consent and shall not be discharged within sixty (60) days after such appointment; or

 

(f)
Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody
or control of the whole or any substantial portion of the properties or assets of the Company; or

 

(g)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of fifty thousand dollars ($50,000)
in the aggregate, shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid,
unvacated, unbonded or unstayed for a period of fifteen (15) days or in any event later than five (5) days prior to the date of
any proposed sale thereunder; or

 

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(h)
The Company shall have defaulted on or breached any term of any other note of similar debt instrument into which the Company has
entered and failed to cure such default within the appropriate grace period; or

 

(i)
The Company shall have its Common Stock delisted from an exchange (including the OTC Market Exchange) or, if the Common Stock
trades on an exchange, then trading in the Common Stock shall be suspended for more than 10 consecutive days or ceases to file
its 1934 act reports with the SEC;

 

(j)
If a majority of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of the
Board;

 

(k)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within
3 business days of its receipt of a Notice of Conversion; or

 

(l)
The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the request of the Holder.

 

(m)
The Company shall not be “current” in its filings with the Securities and Exchange Commission;

 

(n)
The Company shall lose the “bid” price for its stock in a market (including the OTC marketplace or other exchange);
or

 

Then,
or at any time thereafter, unless cured within 5 days, and in each and every such case, unless such Event of Default shall have
been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option
of the Holder and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without
presentment, demand, protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly
waived, anything herein or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately,
and without expiration of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or
any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24%
per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law.
In the event of a breach of Section 8(k) the penalty shall be $250 per day the shares are not issued beginning on the 4th day
after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day beginning on the 10th day.
The penalty for a breach of Section 8(n) shall be an increase of the outstanding principal amounts by 20%. In case of a breach
of Section 8(i), the outstanding principal due under this Note shall increase by 50%. If this Note is not paid at maturity, the
outstanding principal due under this Note shall increase by 10%. Further, if a breach of Section 8(m) occurs or is continuing
after the 6 month anniversary of the Note, then the Holder shall be entitled to use the lowest closing bid price during the delinquency
period as a base price for the conversion. For example, if the lowest closing bid price during the delinquency period is $0.01
per share and the conversion discount is 50% the Holder may elect to convert future conversions at $0.005 per share.

 

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If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

Make-Whole
for Failure to Deliver Loss. At the Holder’s election, if the Company fails for any reason to deliver to the Holder the
conversion shares by the by the 3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder
incurs a Failure to Deliver Loss, then at any time the Holder may provide the Company written notice indicating the amounts payable
to the Holder in respect of the Failure to Deliver Loss and the Company must make the Holder whole as follows:

 

Failure
to Deliver Loss = [(High trade price at any time on or after the day of exercise) x (Number of conversion shares)]

 

The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day
from the time of the Holder’s written notice to the Company.

 

9.
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.

 

10.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed
by the Company and the Holder.

 

11.
The Company represents that it is not a “shell” issuer and has never been a “shell” issuer or that if
it previously has been a “shell” issuer that at least 12 months have passed since the Company has reported form 10
type information indicating it is no longer a “shell issuer. Further. The Company will instruct its counsel to either (i)
write a 144 opinion to allow for salability of the conversion shares or (ii) accept such opinion from Holder’s counsel.

 

12.
The Company shall issue irrevocable transfer agent instructions reserving 8,000,000 shares of its Common Stock for conversions
under this Note equal to one and a half times the discounted value of the Note (the “Share Reserve”) within 5 days
from the date of execution. Upon full conversion of this Note, any shares remaining in the Share Reserve shall be cancelled.
The Company shall pay all transfer agent costs associated with issuing and delivering the share certificates to Holder. If such
amounts are to be paid by the Holder, it may deduct such amounts from the Conversion Price. The company should at all times reserve
a minimum of one and a half times the amount of shares required if the note would be fully converted. The Holder may reasonably
request increases from time to time to reserve such amounts. The Company will instruct its transfer agent to provide the outstanding
share information to the Holder in connection with its conversions.

 

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13.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits,
recapitalizations etc. This notice shall be given to the Holder as soon as possible under law.

 

14.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury,
the applicable provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest
permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim
or take advantage of any law that would prohibit or forgive the Company from paying all or a portion of the principal or interest
on this Note.

 

15.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to
be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder
and the Company hereby mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State
of New York or in the Federal courts sitting in the county or city of New York. This Agreement may be executed in counterparts,
and the facsimile transmission of an executed counterpart to this Agreement shall be effective as an original.

 

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IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

Dated:
03/13/2019

 

	 	TAURIGA
    SCIENCES, INC.
	 	 	 
	 	By:	              

 

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