Document:

Exhibit
4.7

 

THIS
INSTRUMENT CONTAINS AN AFFIDAVIT OF CONFESSION OF JUDGMENT PROVISION WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS BORROWER MAY HAVE
AND ALLOWS THE HOLDER TO OBTAIN A JUDGMENT AGAINST BORROWER WITHOUT ANY FURTHER NOTICE.

 

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 MAY BE THE LEGAL COUNSEL OPINION (AS DEFINED IN THE PURCHASE AGREEMENT)),
IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A
OR REGULATION S UNDER SAID ACT OR OTHER APPLICABLE EXEMPTION. 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.

 

	Principal
    Amount: $150,000.00	Issue
    Date: August 23, 2021
	Actual Amount of
    Purchase Price: $135,000.00	 

 

PROMISSORY
NOTE

 

FOR
VALUE RECEIVED, ECO INNOVATION GROUP, INC., a Nevada corporation (hereinafter called the “Borrower” or the “Company”)
(Trading Symbol: ECOX), hereby promises to pay to the order of BLUE LAKE PARTNERS, LLC, a Delaware limited liability company,
or registered assigns (the “Holder”), in the form of lawful money of the United States of America, the principal sum of $150,000.00,
which amount is the $135,000.00 actual amount of the purchase price (the “Consideration”) hereof plus an original issue discount
in the amount of $15,000.00 (the “OID”) (subject to adjustment herein) (the “Principal Amount”) and to pay interest
on the unpaid Principal Amount hereof at the rate of twelve percent (12%) (the “Interest Rate”) per annum (with the understanding
that the first twelve months of interest (equal to $18,000.00) shall be guaranteed and earned in full as of the Issue Date) from the
date hereof (the “Issue Date”) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment
or otherwise, as further provided herein. The maturity date shall be twelve (12) months from the Issue Date (the “Maturity Date”),
and is the date upon which the Principal Sum, the OID, as well as any accrued and unpaid interest and other fees, shall be due and payable.

 

This Note may not be prepaid
or repaid in whole or in part except as otherwise explicitly set forth herein.

 

Any
Principal Amount or interest on this Note which is not paid when due shall bear interest at the rate of the lesser of (i) sixteen percent
(16%) per annum and (ii) the maximum amount permitted by law from the due date thereof until the same is paid (“Default Interest”).
Default Interest shall be computed on the basis of a 365-day year and the actual number of days elapsed.

 

All
payments due hereunder (to the extent not converted into shares of common stock, $0.001 par value per share, of the Borrower (the “Common
Stock”) in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments shall
be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of
this Note. Whenever any amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same
shall instead be due on the next succeeding day which is a business day.

 

Each
capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase
Agreement, dated as of the Issue Date, pursuant to which this Note was originally issued (the “Purchase Agreement”). As used
in this Note, the term “business day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks
in the city of New York, New York are authorized or required by law or executive order to remain closed. As used herein, the term “Trading
Day” means any day that shares of Common Stock are listed for trading or quotation on the Principal Market (as defined in the Purchase
Agreement), provided, however, that if the Common Stock is not then listed or quoted on any Principal Market, then any calendar day.

 

    	  

    	 

    

This
Note is 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 Borrower and will not impose personal liability upon the holder thereof.

 

The following terms shall also
apply to this Note:

 

ARTICLE
I. CONVERSION RIGHTS

 

1.1
Conversion Right. The Holder shall have the right, on any calendar day, at any time on or following the Issue Date, to convert
all or any portion of the then outstanding and unpaid Principal Amount and interest (including any Default Interest) into fully paid
and non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities
of the Borrower into which such Common Stock shall hereafter be changed or reclassified, at the Conversion Price (as defined below) determined
as provided herein (a “Conversion”); provided, however, that notwithstanding anything to the contrary contained herein,
the a Holder shall not have the right to convert any portion of this Note, pursuant to Section 1 or otherwise, to the extent that after
giving effect to such issuance after conversion as set forth on the applicable Notice of Conversion, the Holder (together with the Holder’s
affiliates (the “Affiliates”), and any other Persons (as defined below) acting as a group together with the Holder or any
of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial
Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned
by the Holder and Attribution Parties shall include the number of shares of Common Stock issuable upon conversion of this Note with respect
to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) conversion
of the remaining, nonconverted portion of this Note beneficially owned by the Holder or any of its Affiliates or Attribution Parties
and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company subject to a limitation
on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution
Parties. Except as set forth in the preceding sentence, for purposes of this Section 1.1, beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the
Holder that the Holder is solely responsible for any schedules required to be filed in accordance therewith. In addition, a determination
as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder. For purposes of this Section 1.1, in determining the number of outstanding shares of Common Stock,
a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or
annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent
written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written
or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares
of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect
to the conversion or exercise of securities of the Company, including this Note, by the Holder or its Affiliates or Attribution Parties
since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation”
shall be 4.99% of the number of shares of the Common Stock outstanding at the time of the respective calculation hereunder. “Person”
and “Persons” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an
unincorporated organization, any other entity and any governmental entity or any department or agency thereof. The limitations contained
in this paragraph shall apply to a successor holder of this Note. The number of Conversion Shares to be issued upon each conversion of
this Note shall be determined by dividing the Conversion Amount (as defined below) by the applicable Conversion Price then in effect
on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the “Notice of Conversion”),
delivered to the Borrower or Borrower’s transfer agent by the Holder in accordance with Section 1.4 below; provided that the Notice
of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or reasonably expected to result in, notice) to the
Borrower or Borrower’s transfer agent before 11:59 p.m., New York, New York time on such conversion date (the “Conversion
Date”). The term “Conversion Amount” means, with respect to any conversion of this Note, the sum of (1) the Principal
Amount of this Note to be converted in such conversion plus (2) at the Holder’s option, accrued and unpaid interest, if
any, on such Principal Amount at the Interest Rate to the Conversion Date, plus (3) at the Holder’s option, Default Interest,
if any, on the amounts referred to in the immediately preceding clauses (1) and/or (2).

 

    	  

    	 

    

 

		1.2	Conversion
                                            Price.

 

(a) 
Calculation of Conversion Price. The per share conversion price into which Principal Amount and interest (including any
Default Interest) under this Note shall be convertible into shares of Common Stock hereunder (the “Conversion Price”) shall
equal $0.02. If at any time the Conversion Price as determined hereunder for any conversion would be less than the par value of the Common
Stock, then at the sole discretion of the Holder, the Conversion Price hereunder may equal such par value for such conversion and the
Conversion Amount for such conversion may be increased to include Additional Principal, where “Additional Principal” means
such additional amount to be added to the Conversion Amount to the extent necessary to cause the number of conversion shares issuable
upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price not been adjusted
by the Holder to the par value price. The Conversion Price is subject to equitable adjustments for stock splits, stock dividends or rights
offerings by the Borrower relating to the Borrower’s securities or the securities of any subsidiary of the Borrower, combinations,
recapitalization, reclassifications, extraordinary distributions and similar events. Holder shall be entitled to deduct $1,750.00 from
the conversion amount in each Notice of Conversion to cover Holder’s fees associated with each Notice of Conversion.

 

1.3  
Authorized and Reserved Shares. The Borrower covenants that at all times until the
Note is satisfied in full, the Borrower will reserve from its authorized and unissued Common Stock a sufficient number of shares, free
from preemptive rights, to provide for the issuance of a number of Conversion Shares equal to the greater of: (a) 11,250,000 shares of
Common Stock or (b) the sum of (i) the number of Conversion Shares issuable upon the full conversion of this Note (assuming no payment
of Principal Amount or interest) at the time of such calculation (taking into consideration any adjustments to the Conversion Price as
provided in this Note) multiplied by (ii) one and a half (1.5) (the “Reserved Amount”). The Borrower represents that
upon issuance, the Conversion Shares will be duly and validly issued, fully paid and non-assessable. The Borrower (i) acknowledges that
it has irrevocably instructed its transfer agent to issue certificates for the Conversion Shares or instructions to have the Conversion
Shares issued as contemplated by Section 1.4(f) hereof, and (ii) agrees that its issuance of this Note shall constitute full authority
to its officers and agents who are charged with the duty of executing stock certificates or cause the Company to electronically issue
shares of Common Stock to execute and issue the necessary certificates for the Conversion Shares or cause the Conversion Shares to be
issued as contemplated by Section 1.4(f) hereof in accordance with the terms and conditions of this Note.

 

If,
at any time the Borrower does not maintain the Reserved Amount it will be considered an Event of Default (as defined in this Note) under
this Note.

 

		1.4	Method
                                            of Conversion.

 

(a) 
Mechanics of Conversion. This Note may be converted by the Holder in whole or in part, on any calendar day, at any time
on or following the Issue Date, by submitting to the Borrower or Borrower’s transfer agent a Notice of Conversion (by facsimile,
e-mail or other reasonable means of communication dispatched on the Conversion Date prior to 11:59 p.m., New York, New York time). Any
Notice of Conversion submitted after 11:59 p.m., New York, New York time, shall be deemed to have been delivered and received on the
next Trading Day.

 

(b)  
Surrender of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note
in accordance with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire
unpaid Principal Amount is so converted. The Holder and the Borrower shall maintain records showing the Principal Amount so converted
and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower, so as not to
require physical surrender of this Note upon each such conversion. In the event of any dispute or discrepancy, such records of the Borrower
shall, prima facie, be controlling and determinative in the absence of manifest error. Notwithstanding the foregoing, if any portion
of this Note is converted as aforesaid, the Holder may not transfer this Note unless the Holder first physically surrenders this Note
to the Borrower, whereupon the Borrower will forthwith issue and deliver upon the order of the Holder a new Note of like tenor, registered
as the Holder (upon payment by the Holder of any applicable transfer taxes) may request, representing in the aggregate the remaining
unpaid Principal Amount of this Note. 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 represented by this Note may be less than the amount stated on the face hereof.

 

 

    	  

    	 

    

(c) 
Payment of Taxes. The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of shares of Common Stock or other securities or property on conversion of this Note in a name other than that
of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such shares or other securities or
property unless and until the person or persons (other than the Holder or the custodian in whose street name such shares are to be held
for the Holder’s account) requesting the issuance thereof shall have paid to the Borrower the amount of any such tax or shall have
established to the satisfaction of the Borrower that such tax has been paid.

 

(d) 
Delivery of Common Stock Upon Conversion. Upon receipt by the Borrower or Borrower’s transfer agent from the Holder
of a facsimile transmission or e-mail (or other reasonable means of communication) of a Notice of Conversion meeting the requirements
for conversion as provided in this Section 1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the
order of the Holder certificates for the Conversion Shares (or cause the electronic delivery of the Conversion Shares as contemplated
by Section 1.4(f) hereof) within one (1) Trading Day after such receipt (the “Deadline”) (and, solely in the case of conversion
of the entire unpaid Principal Amount and interest (including any Default Interest) under this Note, surrender of this Note). If the
Company shall fail for any reason or for no reason to issue to the Holder on or prior to the Deadline a certificate for the number of
Conversion Shares or to which the Holder is entitled hereunder and register such Conversion Shares on the Company’s share register
or to credit the Holder’s balance account with DTC (as defined below) for such number of Conversion Shares to which the Holder
is entitled upon the Holder’s conversion of this Note (a “Conversion Failure”), then, in addition to all other remedies
available to the Holder, (i) the Company shall pay in cash to the Holder on each day after the Deadline and during such Conversion Failure
an amount equal to 2.0% of the product of (A) the sum of the number of Conversion Shares not issued to the Holder on or prior to the
Deadline and to which the Holder is entitled and (B) the closing sale price of the Common Stock on the Trading Day immediately preceding
the last possible date which the Company could have issued such Conversion Shares to the Holder without violating this Section 1.4(d);
and (ii) the Holder, upon written notice to the Company, may void all or any portion of such Notice of Conversion; provided that the
voiding of all or any portion of a Notice of Conversion shall not affect the Company’s obligations to make any payments which have
accrued prior to the date of such notice. In addition to the foregoing, if on or prior to the Deadline the Company shall fail to issue
and deliver a certificate to the Holder and register such Conversion Shares on the Company’s share register or credit the Holder’s
balance account with DTC for the number of Conversion Shares to which the Holder is entitled upon the Holder’s exercise hereunder
or pursuant to the Company’s obligation pursuant to clause (ii) below, and if on or after such Trading Day the Holder purchases
(in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of shares of Common
Stock issuable upon such exercise that the Holder anticipated receiving from the Company, then the Company shall, within two (2) Trading
Days after the Holder’s request and in the Holder’s discretion, either (i) pay cash to the Holder in an amount equal to the
Holder’s total purchase price (including brokerage commissions and other reasonable and customary out-of-pocket expenses, if any)
for the shares of Common Stock so purchased (the “Buy-In Price”), at which point the Company’s obligation to deliver
such certificate (and to issue such Conversion Shares) or credit such Holder’s balance account with DTC for such Conversion Shares
shall terminate, or (ii) promptly honor its obligation to deliver to the Holder a certificate or certificates representing such Conversion
Shares or credit such Holder’s balance account with DTC and pay cash to the Holder in an amount equal to the excess (if any) of
the Buy-In Price over the product of (A) such number of shares of Common Stock, times (B) the closing sales price of the Common Stock
on the date of exercise. Nothing shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law
or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver certificates representing the Conversion Shares (or to electronically
deliver such Conversion Shares) upon the conversion of this Note as required pursuant to the terms hereof.

 

(e)  
Obligation of Borrower to Deliver Common Stock. At the time that the Holder submits the Notice of Conversion to the Borrower
or Borrower’s transfer agent, the Holder shall be deemed to be the holder of record of the Conversion Shares issuable upon such
conversion, the outstanding Principal Amount and the amount of accrued and unpaid interest (including any Default Interest) under this
Note shall be reduced to reflect such conversion, and, unless the Borrower defaults on its obligations under this Article I, all rights
with respect to the portion of this Note being so converted shall forthwith terminate except the right to receive the Common Stock or
other securities, cash or other assets, as herein provided, on such conversion. If the Holder shall have given a Notice of Conversion
as provided herein, the Borrower’s obligation to issue and deliver the certificates for the Conversion Shares (or cause the electronic
delivery of the Conversion Shares as contemplated by Section 1.4(f) hereof) shall be absolute and unconditional, irrespective of the
absence of any action by the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of
any judgment against any person or any action to enforce the same, any failure or delay in the enforcement of any other obligation of
the Borrower to the holder of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach
by the Holder of any obligation to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation
of the Borrower to the Holder in connection with such conversion. The Conversion Date specified in the Notice of Conversion shall be
the Conversion Date so long as the Notice of Conversion is sent to the Borrower or Borrower’s transfer agent before 11:59 p.m.,
New York, New York time, on such date.

 

 

    	  

    	 

    

(f)  
Delivery of Conversion Shares by Electronic Transfer. In lieu of delivering physical certificates representing the Conversion
Shares issuable upon conversion hereof, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast
Automated Securities Transfer or Deposit/Withdrawal at Custodian programs, upon request of the Holder and its compliance with the provisions
contained in Section 1.1 and in this Section 1.4, the Borrower shall use its best efforts to cause its transfer agent to electronically
transmit the Conversion Shares issuable upon conversion hereof to the Holder by crediting the account of Holder’s Prime Broker
with DTC through its Deposit Withdrawal Agent Commission system.

 

1.5  
Concerning the Shares. The Conversion Shares issuable upon conversion of this Note
may not be sold or transferred unless (i) such shares are sold pursuant to an effective registration statement under the 1933 Act or
(ii) the Borrower or its transfer agent shall have been furnished with an opinion of counsel (which opinion shall be the Legal Counsel
Opinion (as defined in the Purchase Agreement)) to the effect that the shares to be sold or transferred may be sold or transferred pursuant
to an exemption from such registration or (iii) such shares are sold or transferred pursuant to Rule 144, Rule 144A, Regulation S, or
other applicable exemption, or (iv) such shares are transferred to an “affiliate” (as defined in Rule 144) of the Borrower
who agrees to sell or otherwise transfer the shares only in accordance with this Section 1.5 and who is an Accredited Investor (as defined
in the Purchase Agreement). Except as otherwise provided in the Purchase Agreement (and subject to the removal provisions set forth below),
until such time as the Conversion Shares have been registered under the 1933 Act or otherwise may be sold pursuant to Rule 144, Rule
144A, Regulation S, or other applicable exemption without any restriction as to the number of securities as of a particular date that
can then be immediately sold, each certificate for the Conversion Shares that has not been so included in an effective registration statement
or that has not been sold pursuant to an effective registration statement or an exemption that permits removal of the legend, shall bear
a legend substantially in the following form, as appropriate:

 

“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 MAY BE THE LEGAL COUNSEL OPINION (AS DEFINED IN THE PURCHASE AGREEMENT)),
IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A,
REGULATION S UNDER SAID ACT, OR OTHER APPLICABLE EXEMPTION. 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 to the Holder a certificate for the applicable Conversion Shares
without such legend upon which it is stamped or (as requested by the Holder) issue the applicable Conversion Shares by electronic delivery
by crediting the account of such holder’s broker with DTC, if, unless otherwise required by applicable state securities laws: (a)
such Conversion Shares are registered for sale under an effective registration statement filed under the 1933 Act or otherwise may be
sold pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption without any restriction as to the number of securities
as of a particular date that can then be immediately sold, or (b) the Company or the Holder provides the Legal Counsel Opinion (as contemplated
by and in accordance with Section 4(m) of the Purchase Agreement) to the effect that a public sale or transfer of such Conversion Shares
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 Company shall be responsible for the fees of its transfer agent and all DTC fees associated with any such issuance. The Holder agrees
to sell all Conversion 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 Holder with respect to the transfer of Conversion Shares pursuant to an exemption from registration, such as Rule 144, Rule 144A,
Regulation S, or other applicable exemption, at the Deadline, notwithstanding that the conditions of Rule 144, Rule 144A, Regulation
S, or other applicable exemption, as applicable, have been met, it will be considered an Event of Default under this Note.

 

 

 

    	  

    	 

    

		1.6	Effect
                                            of Certain Events.

 

(a)   
Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially
all of the assets of the Borrower, or the consolidation, merger or other business combination of the Borrower with or into any other
Person (as defined below) or Persons when the Borrower is not the survivor shall either: (i) be deemed to be an Event of Default pursuant
to which the Borrower shall be required to pay to the Holder upon the consummation of and as a condition to such transaction an amount
equal to the Default Amount (defined in Section 3.20) or (ii) be treated pursuant to Section 1.6(b) hereof. “Person” shall
mean any individual, corporation, limited liability company, partnership, association, trust or other entity or organization.

 

(b)  
Adjustment Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion
of all of this Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar
event, as a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of
another class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially
all of the assets of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then the Holder of this
Note shall thereafter have the right to receive upon conversion of this Note, upon the basis and upon the terms and conditions specified
herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion, such stock, securities or assets which
the Holder would have been entitled to receive in such transaction had this Note been converted in full immediately prior to such transaction
(without regard to any limitations on conversion set forth herein), and in any such case appropriate provisions shall be made with respect
to the rights and interests of the Holder of this Note to the end that the provisions hereof (including, without limitation, provisions
for adjustment of the Conversion Price and of the number of shares issuable upon conversion of the Note) shall thereafter be applicable,
as nearly as may be practicable in relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower
shall not effectuate any transaction described in this Section 1.6(b) unless (a) it first gives, to the extent practicable, at least
thirty (30) days prior written notice (but in any event at least fifteen (15) days prior written notice) of the record date of the special
meeting of shareholders to approve, or if there is no such record date, the consummation of, such merger, consolidation, exchange of
shares, recapitalization, reorganization or other similar event or sale of assets (during which time the Holder shall be entitled to
convert this Note) and (b) the resulting successor or acquiring entity (if not the Borrower) assumes by written instrument the obligations
of this Section 1.6(b). The above provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

(c)    
Adjustment Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire
its assets) to holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend
or distribution to the Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary
(i.e., a spin-off)) (a “Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this Note
after the date of record for determining shareholders entitled to such Distribution, to receive the amount of such assets which would
have been payable to the Holder with respect to the shares of Common Stock issuable upon such conversion had such Holder been the holder
of such shares of Common Stock on the record date for the determination of shareholders entitled to such Distribution.

 

(d)  
Purchase Rights. If, at any time when all or any portion of this Note is issued and outstanding, the Borrower issues any
convertible securities or rights to purchase stock, warrants, securities or other property (the “Purchase Rights”) pro rata
to the record holders of any class of Common Stock, then the Holder of this Note will be entitled to acquire, upon the terms applicable
to such Purchase Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares
of Common Stock acquirable upon complete conversion of this Note (without regard to any limitations on conversion contained herein) immediately
before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights or, if no such record is taken, the
date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights.

 

 

    	  

    	 

    

(e)   
Dilutive Issuance. If the Borrower, at any time while this Note or any amounts due hereunder are outstanding, issues, sells
or grants (or has issued, sold or granted as of the Issue Date, as the case may be) any option to purchase, or sells or grants any right
to reprice, or otherwise disposes of, or issues (or has sold or issued, as the case may be, or announces any sale, grant or any option
to purchase or other disposition), any Common Stock or other securities convertible into, exercisable for, or otherwise entitle any person
or entity the right to acquire, shares of Common Stock (including, without limitation, upon conversion of this Note, and any convertible
notes or warrants outstanding as of or following the Issue Date), in each or any case at an effective price per share that is lower than
the then Conversion Price (such lower price, the “Base Conversion Price” and such issuances, collectively, a “Dilutive
Issuance”) (it being agreed that if the holder of the Common Stock or other securities so issued shall at any time, whether by
operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants,
options or rights per share which are issued in connection with such issuance, be entitled to receive shares of Common Stock at an effective
price per share that is lower than the Conversion Price, such issuance shall be deemed to have occurred for less than the Conversion
Price on such date of the Dilutive Issuance), then the Conversion Price shall be reduced, at the option of the Holder, to a price equal
to the Base Conversion Price. Such adjustment shall be made whenever such Common Stock or other securities are issued. By way of example,
and for the avoidance of doubt, if the Company issues a convertible promissory note (including but not limited to a Variable Rate Transaction),
and the holder of such convertible promissory note has the right to convert it into Common Stock at an effective price per share that
is lower than the then Conversion Price (including but not limited to a conversion price with a discount that varies with the trading
prices of or quotations for the Common Stock), then the Holder has the right to reduce the Conversion Price to such Base Conversion Price
(including but not limited to a conversion price with a discount that varies with the trading prices of or quotations for the Common
Stock) in perpetuity regardless of whether the holder of such convertible promissory note ever effectuated a conversion at the Base Conversion
Price. Notwithstanding the foregoing, no adjustment will be made under this Section 1.6(e) in respect of an Exempt Issuance. In the event
of an issuance of securities involving multiple tranches or closings, any adjustment pursuant to this Section 1.6(e) shall be calculated
as if all such securities were issued at the initial closing.

 

An
“Exempt Issuance” shall mean the issuance of (a) shares of Common Stock or other securities to officers or directors of the
Company pursuant to any stock or option or similar equity incentive plan duly adopted for such purpose, by a majority of the non-employee
members of the Company’s Board of Directors or a majority of the members of a committee of non-employee directors established for
such purpose in a manner which is consistent with the Company’s prior business practices; (b) securities issued pursuant to a merger,
consolidation, acquisition or similar business combination approved by a majority of the disinterested directors of the Company, provided
that any such issuance shall only be to a Person (or to the equity holders of a Person) which is, itself or through its subsidiaries,
an operating company or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company
additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities
primarily for the purpose of raising capital or to an entity whose primary business is investing in securities; (c) securities issued
pursuant to any equipment loan or leasing arrangement, real property leasing arrangement or debt financing from a bank or similar financial
institution approved by a majority of the disinterested directors of the Company; or (d) securities issued with respect to which the
Holder waives its rights in writing under this Section 1.6(e).

 

(f)    
Notice of Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price as a result of the
events described in Section 1.6 of this Note, the Borrower shall, at its expense and within one (1) calendar day after the occurrence
of each respective adjustment or readjustment of the Conversion Price, compute such adjustment or readjustment and prepare and furnish
to the Holder a certificate setting forth (i) the Conversion Price in effect at such time based upon the Dilutive Issuance, (ii) the
number of shares of Common Stock and the amount, if any, of other securities or property which at the time would be received upon conversion
of the Note, (iii) the detailed facts upon which such adjustment or readjustment is based, and (iv) copies of the documentation (including
but not limited to relevant transaction documents) that evidences the adjustment or readjustment. In addition, the Borrower shall, within
one (1) calendar day after each written request from the Holder, furnish to such Holder a like certificate setting forth (i) the Conversion
Price in effect at such time based upon the Dilutive Issuance, (ii) the number of shares of Common Stock and the amount, if any, of other
securities or property which at the time would be received upon conversion of the Note, (iii) the detailed facts upon which such adjustment
or readjustment is based, and (iv) copies of the documentation (including but not limited to relevant transaction documents) that evidences
the adjustment or readjustment. For the avoidance of doubt, each adjustment or readjustment of the Conversion Price as a result of the
events described in Section 1.6 of this Note shall occur without any action by the Holder and regardless of whether the Borrower complied
with the notification provisions in Section 1.6 of this Note.

 

 

    	  

    	 

    

1.7  
[Intentionally Omitted].

 

1.8   
Status as Shareholder. Upon submission of a Notice of Conversion by a Holder, (i)
the Conversion Shares covered thereby (other than the Conversion Shares, if any, which cannot be issued because their issuance would
exceed such Holder’s allocated portion of the Reserved Amount or Maximum Share Amount) shall be deemed converted into shares of
Common Stock and (ii) the Holder’s rights as a Holder of such converted portion of this Note shall cease and terminate, excepting
only the right to receive certificates for such shares of Common Stock and to any remedies provided herein or otherwise available at
law or in equity to such Holder because of a failure by the Borrower to comply with the terms of this Note. Notwithstanding the foregoing,
if a Holder has not received certificates for all shares of Common Stock prior to the tenth (10th) business day after the expiration
of the Deadline with respect to a conversion of any portion of this Note for any reason, then (unless the Holder otherwise elects to
retain its status as a holder of Common Stock by so notifying the Borrower) the Holder shall regain the rights of a Holder of this Note
with respect to such unconverted portions of this Note and the Borrower shall, as soon as practicable, return such unconverted Note to
the Holder or, if the Note has not been surrendered, adjust its records to reflect that such portion of this Note has not been converted.
In all cases, the Holder shall retain all of its rights and remedies for the Borrower’s failure to convert this Note.

 

1.9  
Prepayment. At any time prior to the date that an Event of Default occurs under this
Note (the “Prepayment Period”), the Borrower shall have the right, exercisable on three (3) Trading Days prior written notice
to the Holder of the Note, to prepay the outstanding Principal Amount and interest then due under this Note in accordance with this Section
1.9. 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 three (3) Trading Days from the date of the Optional Prepayment Notice (the “Optional Prepayment Date”). The
Holder shall have the right, at all times prior to the actual receipt of the full prepayment amount on the Optional Prepayment Date,
to instead convert all or any portion of the Note pursuant to the terms of this Note, including the amount of this Note to be prepaid
by the Borrower in accordance with this Section 1.9. On the Optional Prepayment Date, the Borrower shall make payment of the amounts
designated below to or upon the order of the Holder as specified by the Holder in writing to the Borrower. If the Borrower exercises
its right to prepay the Note in accordance with this Section 1.9, the Borrower shall make payment to the Holder of an amount in cash
equal to the sum of: (w) 100% multiplied by the Principal Amount then outstanding plus (x) accrued and unpaid interest on the
Principal Amount to the Optional Prepayment Date plus (y) $750.00 to reimburse Holder for administrative fees. 

 

If
the Borrower delivers an Optional Prepayment Notice and fails to pay the applicable prepayment amount due to the Holder of the Note as
provided in this Section 1.9, then the Borrower shall forever forfeit its right to prepay any part of the Note pursuant to this Section
1.9.

 

1.10  
Repayment from Proceeds. If, at any time prior to the full repayment or full conversion
of all amounts owed under this Note, the Company receives cash proceeds from any source or series of related or unrelated sources, including
but not limited to, from payments from customers, the issuance of equity or debt, the conversion of outstanding warrants of the Borrower,
the issuance of securities pursuant to an equity line of credit of the Borrower or the sale of assets, the Borrower shall, within one
(1) business day of Borrower’s receipt of such proceeds, inform the Holder of or publicly disclose such receipt, following which
the Holder shall have the right in its sole discretion to require the Borrower to immediately apply up to all of such proceeds to repay
all or any portion of the outstanding Principal Amount and interest (including any Default Interest) then due under this Note. Failure
of the Borrower to comply with this provision shall constitute an Event of Default.

 

ARTICLE
II. RANKING AND CERTAIN COVENANTS

 

2.1  
Ranking and Security. This Note shall have priority over all unsecured indebtedness of the Borrower.

2.2  
Other Indebtedness. So long as the Borrower shall have any obligation under this Note, the Borrower shall not (directly
or indirectly through any Subsidiary or affiliate) incur or suffer to exist or guarantee any unsecured indebtedness that is senior to
or pari passu with (in priority of payment and performance) the Borrower’s obligations hereunder.

 

 

 

    	  

    	 

    

2.3  
Distributions on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not
without the Holder’s written consent (a) pay, declare or set apart for such payment, any dividend or other distribution (whether
in cash, property or other securities) on shares of capital stock other than dividends on shares of Common Stock solely in the form of
additional shares of Common Stock or (b) directly or indirectly or through any subsidiary make any other payment or distribution in respect
of its capital stock except for distributions pursuant to any shareholders’ rights plan which is approved by a majority of the
Borrower’s disinterested directors.

 

2.4  
Restriction on Stock Repurchases and Debt Repayments. So long as the Borrower shall have any obligation under this Note,
the Borrower shall not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange
for property or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of
the Borrower or any warrants, rights or options to purchase or acquire any such shares, or repay any pari passu or subordinated indebtedness
of Borrower.

 

2.5   
Sale of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the
Holder’s written consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course
of business. Any consent by the Holder to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

2.6    
Advances and Loans; Affiliate Transactions. So long as the Borrower shall have any obligation under this Note, the Borrower
shall not, without the Holder’s written consent, lend money, give credit, make advances to or enter into any transaction with any
person, firm, joint venture or corporation, including, without limitation, officers, directors, employees, subsidiaries and affiliates
of the Borrower, except loans, credits or advances (a) in existence or committed on the Issue Date and which the Borrower has informed
Holder in writing prior to the Issue Date, (b) in regard to transactions with unaffiliated third parties, made in the ordinary course
of business or (c) in regard to transactions with unaffiliated third parties, not in excess of $100,000. So long as the Borrower shall
have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, repay any affiliate (as defined
in Rule 144) of the Borrower in connection with any indebtedness or accrued amounts
owed to any such party.

 

2.7 
Section 3(a)(9) or 3(a)(10) Transaction. So long as this Note is outstanding, the Borrower shall not enter into any transaction
or arrangement structured in accordance with, based upon, or related or pursuant to, in whole or in part, either Section 3(a)(9) of the
Securities Act (a “3(a)(9) Transaction”) or Section 3(a)(10) of the Securities Act (a “3(a)(10) Transaction”).
In the event that the Borrower does enter into, or makes any issuance of Common Stock related to a 3(a)(9) Transaction or a 3(a)(10)
Transaction while this note is outstanding, a liquidated damages charge of 25% of the outstanding principal balance of this Note, but
not less than $25,000, will be assessed and will become immediately due and payable to the Holder at its election in the form of a cash
payment or added to the balance of this Note (under Holder's and Borrower's expectation that this amount will tack back to the Issue
Date).

 

2.8 
Preservation of Business and Existence, etc. So long as the Borrower shall have any obligation under this Note, the Borrower
shall not, without the Holder’s written consent, (a) change the nature of its business;

(b)
sell, divest, change the structure of any material assets other than in the ordinary course of business; (c) enter into a Variable Rate
Transaction; or (d) enter into any merchant cash advance transactions. In addition, so long as the Borrower shall have any obligation
under this Note, the Borrower shall maintain and preserve, and cause each of its Subsidiaries to maintain and preserve, its existence,
rights and privileges, and become or remain, and cause each of its Subsidiaries (other than dormant Subsidiaries that have no or minimum
assets) to become or remain, duly qualified and in good standing in each jurisdiction in which the character of the properties owned
or leased by it or in which the transaction of its business makes such qualification necessary.

 

2.9 
Noncircumvention. The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate or
Articles of Incorporation or Bylaws, or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement,
dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any
of the terms of this Note, and will at all times in good faith carry out all the provisions of this Note and take all action as may be
required to protect the rights of the Holder.

 

2.10   
Lost, Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by
the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company
shall execute and deliver to the Holder a new Note.

 

    	  

    	 

    

ARTICLE
III. EVENTS OF DEFAULT

 

It shall
be considered an event of default if any of the following events listed in this Article III (each, an “Event of Default”)
shall occur:

 

3.1  
Failure to Pay Principal or Interest. The Borrower fails to pay the Principal Amount hereof or interest thereon when due
on this Note, whether at maturity, upon acceleration or otherwise, or fails to fully comply with Section 1.10 of this Note.

 

3.2 
Conversion and the Shares. The Borrower (i) fails to issue Conversion Shares to the Holder (or announces or threatens in
writing that it will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance
with the terms of this Note, (ii) fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated
form) any certificate for the Conversion Shares issuable to the Holder upon conversion of
or otherwise pursuant to this Note as and when required by this Note, (iii) fails to reserve the Reserved Amount at all times, (iv) the
Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring (or issuing)
(electronically or in certificated form) any certificate for the Conversion Shares issuable to the Holder upon conversion of or otherwise
pursuant to this Note as and when required by this Note, or fails to remove (or directs its transfer agent not to remove or impairs,
delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect
thereof) on any certificate for any Conversion Shares issued to the Holder upon conversion of or otherwise pursuant to this Note as and
when required by this Note (or makes any written announcement, statement or threat that it does not intend to honor the obligations described
in this paragraph) and any such failure shall continue uncured (or any written announcement, statement or threat not to honor its obligations
shall not be rescinded in writing) for two (2) Trading Days after the Holder shall have delivered a Notice of Conversion, and/or (v)
fails to remain current in its obligations to its transfer agent (including but not limited to payment obligations to its transfer agent).
It shall be an Event of Default of this Note, if a conversion of this Note is delayed, hindered or frustrated due to a balance owed by
the Borrower to its transfer agent. If at the option of the Holder, the Holder advances any funds to the Borrower’s transfer agent
in order to process a conversion, such advanced funds shall be added to the principal balance of the Note.

 

3.3   
Breach of Agreements and Covenants. The Borrower breaches any covenant, agreement, or other term or condition contained
in the Purchase Agreement, this Note, Irrevocable Transfer Agent Instructions, Warrant (as defined in the Purchase Agreement) (the “Warrant”),
or in any agreement, statement or certificate given in writing pursuant hereto or in connection herewith or therewith.

 

3.4  
Breach of Representations and Warranties. Any representation or warranty of the Borrower made in the Purchase Agreement,
this Note, Irrevocable Transfer Agent Instructions, Warrant, or in any agreement, statement or certificate given in writing pursuant
hereto or in connection herewith or therewith shall be false or misleading in any material respect when made and the breach of which
has (or with the passage of time will have) a material adverse effect on the rights of the Holder with respect to this Note or the Purchase
Agreement.

 

3.5    
Receiver or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors,
or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or
such a receiver or trustee shall otherwise be appointed.

 

3.6  
Judgments. Any money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary
of the Borrower or any of its property or other assets for more than $100,000, and shall remain unvacated, unbonded or unstayed for a
period of twenty (20) days unless otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.7    
Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary,
for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary
of the Borrower.

 

3.8  
Failure to Comply with the 1934 Act. At any time after the Issue Date, the Borrower shall fail to comply with the reporting
requirements of the 1934 Act and/or the Borrower shall cease to be subject to the reporting requirements of the 1934 Act. 

 

3.9      
Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

 

 

    	  

    	 

    

3.10  
Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to
pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going
concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.11   
Maintenance of Assets. The failure by Borrower to maintain any material intellectual property rights, personal, real property
or other assets which are necessary to conduct its business (whether now or in the future).

 

3.12  
Financial Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC for any
date or period from two years prior to the Issue Date of this Note and until this Note is no longer outstanding.

 

3.13   
Replacement of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails
to provide, prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially
delivered pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock
in the Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower.

 

3.14  
Cross-Default. The declaration of an event of default by any lender or other extender of credit to the Company under any
notes, loans, agreements or other instruments of the Company evidencing any indebtedness of the Company (including those filed as exhibits
to or described in the Company’s filings with the SEC), after the passage of all applicable notice and cure or grace periods.

 

3.15  
Variable Rate Transactions. The Borrower consummates a Variable Rate Transaction at any time on or after the Issue Date.

 

3.16  
Inside Information. Any attempt by the Borrower or its officers, directors, and/or affiliates to transmit, convey, disclose,
or any actual transmittal, conveyance, or disclosure by the Borrower or its officers, directors, and/or affiliates of, material non-public
information concerning the Borrower, to the Holder or its successors and assigns, which is not immediately cured by Borrower’s
filing of a Form 8-K pursuant to Regulation FD on that same date.

 

3.17  
Unavailability of Rule 144. If, at any time on or after the date that is six (6) calendar months after the Issue Date,
the Holder is unable to (i) obtain a standard “144 legal opinion letter” from an attorney reasonably acceptable to the Holder,
the Holder’s brokerage firm (and respective clearing firm), and the Borrower’s transfer agent in order to facilitate the
Holder’s conversion of any portion of the Note into free trading shares of the Borrower’s Common Stock pursuant to Rule 144,
and/or (ii) thereupon deposit such shares into the Holder’s brokerage account.

 

3.18  
Delisting, Suspension, or Quotation of Trading of Common Stock. If, at any time on or after the Issue Date, the Borrower’s
Common Stock (i) is suspended from trading, (ii) halted from trading, and/or (iii) fails to be quoted or listed (as applicable) on a
Principal Market.

 

 

3.19   
Failure to Pay an Interim Payment. The Borrower fails to pay the Interim Payment (as defined in this Note) when due as
provided in Section 4.16 of this Note.

 

3.20   
Rights and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in this Article III,
this Note shall become immediately due and payable, and the Borrower shall pay to the Holder, in full satisfaction of its obligations
hereunder, an amount equal to the Principal Amount then outstanding plus accrued interest (including any Default Interest) through the
date of full repayment multiplied by 125% (collectively the “Default Amount”), as well as all costs, including, without limitation,
legal fees and expenses, of collection, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower.
Holder may, in its sole discretion, determine to accept payment part in Common Stock and part in cash. For purposes of payments in Common
Stock, the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be
entitled to exercise all other rights and remedies available at law or in equity.

 

 

    	  

    	 

    

Upon
the occurrence of any Event of Default, and in addition to any other right or remedy of the Holder hereunder, under the related transaction
documents, or otherwise at law or in equity, the Borrower hereby irrevocably authorizes and empowers Holder or its legal counsel, each
as the Borrower’s attorney-in-fact, to appear ex parte and with notice to the Borrower to confess judgment against the Borrower
for the unpaid amount of this Note. The judgment shall set forth the amount then due hereunder, plus attorney’s fees and cost of
suit, and to release all errors, and waive all rights of appeal. The Borrower waives the right to contest Holder’s rights under
this section, including without limitation the right to any stay of execution and the benefit of all exemption laws now or hereafter
in effect. No single exercise of the foregoing right and power to confess judgment will be deemed to exhaust such power, whether or not
any such exercise shall be held by any court to be invalid, voidable, or void, and such power shall continue undiminished and may be
exercised from time to time as the Holder may elect until all amounts owing on this Note have been paid in full. The Borrower shall provide
a signed and notarized copy of the of the affidavit of confession of judgment attached hereto as Exhibit “B” on or before
the Closing Date.

 

ARTICLE
IV. MISCELLANEOUS

 

4.1  
Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other right, power or privileges. All rights and remedies of the Holder existing
hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

4.2   
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or
certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv)
transmitted by hand delivery, telegram, e-mail or facsimile, addressed as set forth below or to such other address as such party shall
have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be
deemed effective (a) upon hand delivery or delivery by e-mail or facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where such
notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express courier
service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses
for such communications shall be:

 

 

If to the Borrower, to:

 

ECO
INNOVATION GROUP, INC.

16525 Sherman Way, Suite
C-1

Van Nuys, CA 91406

Attention: Julia Otey-Raudes

e-mail: julia.otey@ecoig.com

 

If to the Holder:

 

BLUE
LAKE PARTNERS, LLC

3411 Silverside Road,
Tatnal Building #104

Wilmington, DE 19810

e-mail: craig@bluelakepartnersllc.com

 

4.3  
Amendments. This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and
the Holder. The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument as
originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

 

    	  

    	 

    

4.4  
Assignability. This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit
of the Holder and its successors and assigns. The Borrower shall not assign this Note or any rights or obligations hereunder without
the prior written consent of the Holder. The Holder may assign its rights hereunder to any “accredited investor” (as defined
in Rule 501(a) of the 1933 Act) in a private transaction from the Holder or to any of its “affiliates”, as that term is defined
under the 1934 Act, without the consent of the Borrower. Notwithstanding anything in this Note to the contrary, this Note may be pledged
as collateral in connection with a bona fide margin account or other lending arrangement. The Holder and any assignee, by acceptance
of this Note, acknowledge and agree that following conversion of a portion of this Note, the unpaid and unconverted principal amount
of this Note represented by this Note may be less than the amount stated on the face hereof.

 

4.5  
Cost of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection,
including reasonable attorneys’ fees.

 

4.6  
Governing Law; Venue;
Attorney’s Fees. This Note shall be
governed by and
construed in accordance with the laws of the State of Nevada without regard to principles of conflicts of laws. Any action brought
by either party against the other concerning the transactions contemplated by this Note or any other agreement, certificate, instrument
or document contemplated hereby shall be brought only in the state courts located in Broward County, Florida or federal courts located
in Broward County, Florida. The Borrower hereby irrevocably waives any objection to jurisdiction and venue of any action instituted hereunder
and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. THE BORROWER HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTIONS CONTEMPLATED HEREBY. Each party hereby irrevocably waives personal
service of process and consents to process being served in any suit, action or proceeding in connection with this Note or any other agreement,
certificate, instrument or document contemplated hereby or thereby by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this 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 other manner permitted by law. The prevailing party in any action or dispute brought in connection
with this the Note or any other agreement, certificate, instrument or document contemplated hereby or thereby shall be entitled to recover
from the other party its reasonable attorney’s fees and costs.

 

4.7  
Certain Amounts. Whenever pursuant to this Note the Borrower is required to pay an amount in excess of the outstanding
Principal Amount (or the portion thereof required to be paid at that time) plus accrued and unpaid interest plus Default Interest on
such interest, the Borrower and the Holder agree that the actual damages to the Holder from the receipt of cash payment on this Note
may be difficult to determine and the amount to be so paid by the Borrower represents stipulated damages and not a penalty and is intended
to compensate the Holder in part for loss of the opportunity to convert this Note and to earn a return from the sale of shares of Common
Stock acquired upon conversion of this Note at a price in excess of the price paid for such shares pursuant to this Note. The Borrower
and the Holder hereby agree that such amount of stipulated damages is not plainly disproportionate to the possible loss to the Holder
from the receipt of a cash payment without the opportunity to convert this Note into shares of Common Stock.

 

4.8  
Purchase Agreement. The Company and the Holder shall be bound by the applicable terms of the Purchase Agreement and the
documents entered into in connection herewith and therewith.

 

4.9  
Notice of Corporate Events. Except as otherwise provided below, the Holder of this Note shall have no rights as a Holder
of Common Stock unless and only to the extent that it converts this Note into Common Stock. The Borrower shall provide the Holder with
prior notification of any meeting of the Borrower’s shareholders (and copies of proxy materials and other information sent to shareholders).
In the event of any taking by the Borrower of a record of its shareholders for the purpose of determining shareholders who are entitled
to receive payment of any dividend or other distribution, any right to subscribe for, purchase or otherwise acquire (including by way
of merger, consolidation, reclassification or recapitalization) any share of any class or any other securities or property, or to receive
any other right, or for the purpose of determining shareholders who are entitled to vote in connection with any change in control or
any proposed liquidation, dissolution or winding up of the Borrower, the Borrower shall mail a notice to the Holder, at least twenty
(20) days prior to the record date specified therein (or thirty (30) days prior to the consummation of the transaction or event, whichever
is earlier), of the date on which any such record is to be taken for the purpose of such dividend, distribution, right or other event,
and a brief statement regarding the amount and character of such dividend, distribution, right or other event to the extent known at
such time. The Borrower shall make a public announcement of any event requiring notification to the Holder hereunder substantially simultaneously
with the notification to the Holder in accordance with the terms of this Section 4.9.

 

 

    	  

    	 

    

4.10  
Remedies. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy
at law for a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by
the Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law or
in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and
without any bond or other security being required.

 

4.11 
Construction; Headings. This Note shall be deemed to be jointly drafted by the Company and all the Holder and shall not
be construed against any person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form
part of, or affect the interpretation of, this Note.

 

4.12 
Usury. To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever
claim, and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at
any time hereafter in force, in connection with any action or proceeding that may be brought by the Holder in order to enforce any right
or remedy under this Note. Notwithstanding any provision to the contrary contained in this Note, it is expressly agreed and provided
that the total liability of the Company under this Note for payments which under the applicable law are in the nature of interest shall
not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the foregoing,
in no event shall any rate of interest or default interest, or both of them, when aggregated with any other sums which under the applicable
law in the nature of interest that the Company may be obligated to pay under this Note exceed such Maximum Rate. It is agreed that if
the maximum contract rate of interest allowed by applicable law and applicable to this Note is increased or decreased by statute or any
official governmental action subsequent to the Issue Date, the new maximum contract rate of interest allowed by law will be the Maximum
Rate applicable to this Note from the effective date thereof forward, unless such application is precluded by applicable law. If under
any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to the Holder with respect to indebtedness
evidenced by this the Note, such excess shall be applied by the Holder to the unpaid principal balance of any such indebtedness or be
refunded to the Company, the manner of handling such excess to be at the Holder’s election.

 

4.13  
Severability. In the event that any provision of this Note is invalid or unenforceable under any applicable statute or
rule of law (including any judicial ruling), 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 such provision which may prove invalid or unenforceable
under any law shall not affect the validity or enforceability of any other provision of this Note.

 

4.14   
Terms of Future Financings. So long as this Note is outstanding, upon any issuance by the Borrower or any of its subsidiaries
of any security, or amendment to a security that was originally issued before the Issue Date, with any term that the Holder reasonably
believes is more favorable to the holder of such security or with a term in favor of the holder of such security that the Holder reasonably
believes was not similarly provided to the Holder in this Note, then (i) the Borrower shall notify the Holder of such additional or more
favorable term within one (1) business day of the issuance and/or amendment (as applicable) of the respective security, and (ii) such
term, at Holder’s option, shall become a part of the transaction documents with the Holder (regardless of whether the Borrower
complied with the notification provision of this Section 4.14). The types of terms contained in another security that may be more favorable
to the holder of such security include, but are not limited to, terms addressing prepayment rate, interest rates, and original issue
discounts.

 

4.15   
Dispute Resolution. In the case of a dispute as to the determination of the Conversion Price, Conversion Amount, any prepayment
amount or Default Amount, Issue, Closing or Maturity Date, the closing bid price, or fair market value (as the case may be) or the arithmetic
calculation of the Conversion Price or the applicable prepayment amount(s) (as the case may be), the Borrower or the Holder shall submit
the disputed determinations or arithmetic calculations via facsimile (i) within one (1) Trading Day after receipt of the applicable notice
giving rise to such dispute to the Borrower or the Holder or (ii) if no notice gave rise to such dispute, at any time after the Holder
learned of the circumstances giving rise to such dispute. If the Holder and the Borrower are unable to agree upon such determination
or calculation within one (1) Trading Day of such disputed determination or arithmetic calculation (as the case may be) being submitted
to the Borrower or the Holder, then the Borrower shall, within one (1) Trading Day, submit (a) the disputed determination of the Conversion
Price, the closing bid price, the or fair market value (as the case may be) to an independent, reputable investment bank selected by
the Borrower and approved by the Holder or (b) the disputed arithmetic calculation of the Conversion Price, Conversion Amount, any prepayment
amount or Default Amount, to an independent, outside accountant selected by the Holder that is reasonably acceptable to the Borrower.
The Borrower shall cause at its expense the investment bank or the accountant to perform the determinations or calculations and notify
the Borrower and the Holder of the results no later than one (1) Trading Day from the time it receives such disputed determinations or
calculations. Such investment bank’s or accountant’s determination or calculation shall be binding upon all parties absent
demonstrable error.

 

 

    	  

    	 

    

4.16   
Interim Payment. In addition to all other obligations under this Note, the Borrower shall pay $33,000.00 in cash to the
Holder on or before February 21, 2022 (the "Interim Payment”) for the repayment of the OID (equal to $15,000.00) and the guaranteed
interest (equal to $18,000.00) under the Note.

 

4.17   
Right of First Refusal. If at any time while this Note is outstanding, the Borrower has a bona fide offer of capital or
financing from any 3rd party, that the Borrower intends to act upon, then the Borrower must first offer such opportunity to the Holder
to provide such capital or financing to the Borrower on the same terms as each respective 3rd party’s terms. Should the Holder
be unwilling or unable to provide such capital or financing to the Borrower within five (5) Trading Days from Holder’s receipt
of written notice of the offer (the “Offer Notice”) from the Borrower, then the Borrower may obtain such capital or financing
from that respective 3rd party upon the exact same terms and conditions offered by the Borrower to the Holder, which transaction must
be completed within 30 days after the date of the Offer Notice. If the Borrower does not receive the capital or financing from the respective
3rd party within 30 days after the date of the respective Offer Notice, then the Borrower must again offer the capital or financing opportunity
to the Holder as described above, and the process detailed above shall be repeated. The Offer Notice must be sent via electronic mail
to craig@bluelakepartnersllc.com. 

 

 

 

[signature
page follows]

 

 

    	  

    	 

    

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer on August 23, 2021.

 

ECO INNOVATION
GROUP, INC.

 

 

	By:
     /s/ Julia Otey-Raudes
	Name:
    Julia Otey-Raudes
	Title: Chief Executive
    Officer

 

 

 

 

    	  

    	 

    

EXHIBIT
A -- NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert $ principal amount of the Note (defined below) into that number of shares of Common Stock
to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of ECO INNOVATION GROUP, INC.,
a Nevada corporation (the “Borrower”), according to the conditions of the promissory note of the Borrower dated as of August
23, 2021 (the “Note”), as of the date written below. No fee will be charged to the Holder for any conversion, except for
transfer taxes, if any.

 

Box Checked as to applicable instructions:

 

	☐	The Borrower
    shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the undersigned or
    its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).
	 	Name of DTC Prime Broker:
	 	Account Number:

 

	☐	The undersigned hereby requests
    that the Borrower issue a certificate or certificates for the number of shares of Common Stock set forth below (which numbers are
    based on the Holder’s calculation

    attached hereto) in
    the name(s) specified immediately below or, if additional space is necessary, on an attachment hereto:

 

 

 

	Date of
    Conversion:	 
	Applicable Conversion
    Price:	$
	Number of Shares
    of Common Stock to be

   
    Issued
    Pursuant to Conversion of the Note:
	 

     

	Amount
    of Principal Balance Due remaining Under the Note after this conversion:	 

     

 

	By:
	Name:
	Title:
	Date:

 

 

 

    	  

    	 

    

 

EXHIBIT
B – CONFESSION OF JUDGMENT

 

(see
attached)

 

 

 

    	  

    	 

    

 

Affidavit of Confession of Judgment

 

STATE OF FLORIDA

COUNTY OF BROWARD

-----------------------------------------------------------------------
X

BLUE LAKE PARTNERS, LLC,

Index No.

Plaintiff,

AFFIDAVIT OF CONFESSION OF

- against -JUDGMENT

 

ECO INNOVATION GROUP, INC.,

Defendant.

-----------------------------------------------------------------------
X

 

STATE OF FLORIDA )

COUNTY OF BROWARD ) ss.:

 

Julia Otey-Raudes, being duly sworn,
hereby deposes and says:

1.       
I am the Chief Executive Officer of defendant ECO INNOVATION GROUP, INC., a Nevada corporation (“Borrower”). As such, I am
fully familiar with all the facts and circumstances recited herein on personal knowledge. Borrower has its principal place of business
at 16525 Sherman Way, Suite C-1, Van Nuys, CA 91406. On behalf of the Borrower, I hereby confess judgment in favor of Blue Lake Partners,
LLC, a Delaware limited liability company (“Holder”), residing at 3411 Silverside Road, Tatnal Building #104, Wilmington,
DE 19810, in the amount of $150,000.00, less any payments made on or after the date of this affidavit of confession of judgment, plus
Default Interest (as defined in the Note (as defined herein)) on said amount and all other applicable penalties under the Note. In no
event shall interest payable hereunder exceed the maximum permissible under applicable law.

2.       I
hereby authorize the federal courts and/or state courts located in the State of Florida to enter judgment against Borrower in the amount
of in the amount of $150,000.00, less any payments made on or after the date of this affidavit of confession of judgment, plus Default
Interest on said amount and all other applicable penalties under the Note, plus the costs and attorneys’ fees that are set forth
below, less any payments made on or after the date of this affidavit of confession of judgment, upon Borrower’s failure for any
reason to timely make any payment to Holder called for by the promissory note between of the parties, dated August 23, 2021 (the “Note”),
due to the occurrence of an Event of Default (as defined in the Note) under the Note.

 

    	  

    	 

    

3.       In
order to secure these obligations, Borrower agreed to simultaneously deliver with the execution of the Note this Affidavit of Confession
of Judgment.

4.       The
sums confessed pursuant to this affidavit of confession of judgment are justly due and owing to Holder under the following circumstances:
Borrower entered into the Note pursuant to which Borrower promised to pay to the order of Holder the principal sum of $150,000.00 plus
interest as provided for therein. The amounts confessed by this affidavit represent a promissory note investment by Holder in Borrower
and arise out of Borrower’s breach of its obligations under the Note.

5.       Borrower
agrees to pay any and all costs and expenses incurred by Holder in enforcing the terms of this affidavit of confession of judgment, including
reasonable attorneys’ fees and expenses at the rate of $475.00 per hour that Holder incurs or is billed for in connection with
enforcing the terms of the affidavit of confession of judgment, entering any Judgment, collecting upon said Judgment, and defending or
prosecuting any appeals.

 

 

[signature page to
follow]

 

    	  

    	 

    

 

ECO INNOVATION GROUP, INC.

 

 

By: _________________________________

Name: Julia Otey-Raudes

Title: Chief Executive Officer

 

 

 

STATE OF ______________
)

ss.:

COUNTY OF ______________
)

 

ACKNOWLEDGMENT

 

On __________, 2021
before me personally came ________________________________________, to me known, who, by me duly sworn, did depose and say that deponent
is an officer of ECO INNOVATION GROUP, INC., the corporation described in, and which executed the foregoing affidavit of confession of
judgment, that deponent knows the seal of the corporation, that the seal affixed to the affidavit of confession of judgment is the corporation’s
seal, that it was affixed by order of the board of directors of the corporation and that deponent signed deponent’s name by like
order.

 

 

 

_____________________________

Notary Public

 

SEAL:

 

 

[Signature Page to
Affidavit of Confession of Judgment]Exhibit
4.8

 

CONVERTIBLE
PROMISSORY NOTE 

 

THIS NOTE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR APPLICABLE STATE SECURITIES LAWS, AND MAY
NOT BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL
IN THE FORM, SUBSTANCE AND SCOPE REASONABLY SATISFACTORY TO THE COMPANY THAT THIS NOTE MAY BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED
OF, UNDER AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES LAWS.

 

	Principal Amount: $55,000.00	Issue Date: March 23, 2022
	
    Actual Amount of Purchase Price: $50,000.00

    OID: $5,000.00
	 

 

FOR VALUE RECEIVED,
Eco Innovation Group, Inc., a Nevada corporation (“Borrower”), promises to pay to Robert L. Hymers III, or his successors
or assigns (“Lender”), in accordance with the terms hereinafter provided, up to an aggregate of Fifty-five Thousand
Dollars ($55,000.00) (the “Principal Amount”), which amount is the $50,000.00 actual amount of the purchase price (the
“Consideration”) hereof plus an original issue discount in the amount of $5,000.00 (the “OID”) .
The Principal Amount outstanding shall be due and payable on the date that is six (6) months from the Issuance Date. The due date of any
outstanding Principal Amount and interest are referred to herein as the “Maturity Date”, respectively. All payments under
or pursuant to this Note refer to and shall be made in United States Dollars in immediately available funds to the Holder at the address
of the Holder first set forth above or at such other place as the Holder may designate from time to time in writing to the Company or
by wire transfer of funds to the Holder.

 

ARTICLE
I

 

Section 1.1 Interest.
Beginning on the issuance date of this Note (the “Issuance Date”), the outstanding principal balance of this Note shall bear
interest in arrears at a rate per annum equal to ten percent (10%) accruing on a twelve month basis commencing on the Issuance Date, which,
at the option of the Holder, may be converted to shares of the

Company’s
common stock, par value $0.001 per share (the “Common Stock”) on the same terms as the Note.

 

Section 1.2 Payment
on Non-Business Days. Whenever any payment to be made shall be due on a Saturday, Sunday or a public holiday under the laws of the State
of Nevada, such payment may be due on the next succeeding business day and such next succeeding day shall be included in the calculation
of the amount of accrued interest payable on such date.

 

Section 1.3 Transfer.
This Note may be transferred or sold, subject to the provisions outlined herein, or pledged, hypothecated or otherwise granted as security
by the Holder.

 

Section 1.4 Replacement.
Upon receipt of a duly executed, notarized and unsecured written statement from the Holder with respect to the loss, theft or destruction
of this Note (or any replacement hereof), and without requiring an indemnity bond or other security, or, in the case of a mutilation of
this Note, upon surrender and cancellation of such Note, the Company shall issue a new Note, of like tenor and amount, in lieu of such
lost, stolen, destroyed or mutilated Note.

 

Section 1.5. Registration
Rights. If at any time the Company shall determine to prepare and file with the Commission a registration statement (a “Registration
Statement”) relating to an offering for its own account or the account of others under the Securities Act of any of its equity on
Form S-1, or Form 1-A, the Company shall cause the registration under the Securities Act of all the shares issuable upon conversion of
this Note.

 

    	  

    	 

    

ARTICLE
II

EVENTS OF DEFAULT;
REMEDIES

 

Section 2.1 Events
of Default. The occurrence of any of the following events shall be an “Event of Default” under this Note:

 

(a)
the Company shall fail to make the payment of any amount of principal outstanding on the date such

payment is due
hereunder;

 

(b)
the Company shall fail to make any payment of interest for a period of three (3) days after the date such

interest is due;

 

(c)
the suspension from listing, without subsequent listing on any one of, or the failure of the Common Stock to be listed on at least
one of the OTC Bulletin Board, Nasdaq SmallCap Market, Nasdaq National Market, American Stock Exchange or The New York Stock Exchange,
Inc. for a period of five (5) consecutive Trading Days;

 

(d)
the Company’s notice to the Holder, including by way of public announcement, at any time, of its inability to comply or its
intention not to comply with proper requests for conversion of this Note into shares of Common Stock;

 

(e)
the Company shall fail to (i) timely deliver the shares of Common Stock upon conversion of the Note or

any accrued and
unpaid interest, or (ii) make the payment of any fees and/or liquidated damages under this Note;

 

(f)
any material representation or warranty made by the Company herein or in the Purchase Agreement or any other Transaction Document
shall prove to have been false or incorrect or breached in a material respect on the date as of which made;

 

(g)
the Company shall (A) default in any payment of any amount or amounts of principal of or interest on any Indebtedness (other than
the Indebtedness hereunder) the aggregate principal amount of which Indebtedness is in excess of $100,000 or (B) default in the observance
or performance of any other agreement or condition relating to any Indebtedness or contained in any instrument or agreement evidencing,
securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition
is to cause, or to permit the holder or holders or beneficiary or beneficiaries of such Indebtedness to cause with the giving of notice
if required, such Indebtedness to become due prior to its stated maturity;

 

(h)
the Company shall (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee
or liquidator of itself or of all or a substantial part of its property or assets, (ii) make a general assignment for the benefit of its
creditors, (iii) commence a voluntary case under the United States Bankruptcy Code (as now or hereafter in effect) or under the comparable
laws of any jurisdiction (foreign or domestic), (iv) file a petition seeking to take advantage of any bankruptcy, insolvency, moratorium,
reorganization or other similar law affecting the enforcement of creditors’ rights generally, (v) acquiesce in writing to any petition
filed against it in an involuntary case under United States Bankruptcy Code (as now or hereafter in effect) or under the comparable laws
of any jurisdiction (foreign or domestic), (vi) issue a notice of bankruptcy or winding down of its operations or issue a press release
regarding same, or (vii) take any action under the laws of any jurisdiction (foreign or domestic) analogous to any of the foregoing;

 

    	  

    	 

    

(i)
a proceeding or case shall be commenced in respect of the Company, without its application or consent, in any court of competent
jurisdiction, seeking (i) the liquidation, reorganization, moratorium, dissolution, winding up, or composition or readjustment of its
debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of it or of all or any substantial part of its assets
in connection with the liquidation or dissolution of the Company or (iii) similar relief in respect of it under any law providing for
the relief of debtors, and such proceeding or case described in clause (i), (ii) or (iii) shall continue un-dismissed, or un-stayed and
in effect, for a period of sixty (60) days or any order for relief shall be entered in an involuntary case under United States Bankruptcy
Code (as now or hereafter in effect) or under the comparable laws of any jurisdiction (foreign or domestic) against the Company or action
under the laws of any jurisdiction (foreign or domestic) analogous to any of the foregoing shall be taken with respect to the Company
and shall continue un-dismissed, or un-stayed and in effect for a period of sixty (60) days; or

 

(j)
the failure of the Company to instruct its transfer agent to remove any legends from shares of Common Stock eligible to be sold
under Rule 144 of the Securities Act and issue such un- legended certificates to the Holder within five (5) business days of the Holder’s
request so long as the Holder has provided reasonable assurances and opinions of counsel to the Company that such shares of Common Stock
can be resold pursuant to Rule 144; or

 

(k)
the failure of the Company to pay any amounts due to the Holder herein within three (3) business days of receipt of notice to the
Company.

 

Section 2.2 Remedies
Upon An Event of Default. If an Event of Default shall have occurred and shall be continuing, the Holder of this Note may at any time
at its option, (a) declare the entire unpaid principal balance of this Note, together with all interest accrued hereon, due and payable,
and thereupon, the same shall be accelerated and so due and payable, without presentment, demand, protest, or notice, all of which are
hereby expressly unconditionally and irrevocably waived by the Company; (b) demand that the principal amount of this Note then outstanding
shall be converted into shares of Common Stock at a Conversion Price (as defined in Section 3 hereof).

 

ARTICLE
III

CONVERSION;
ANTIDILUTION; CONVERSION LIMITATIONS PREPAYMENT

 

Section 3.1 Conversion
and Fixed Conversion Price. At any time, at the option of the Holder, the Principal Amount of this Convertible Note, may be converted
into shares of the Company's common stock, $0.001 par value (the "Common Stock"), at the Holder’s discretion. The number
of shares of Common Stock that this Convertible Note or any portion hereof shall be converted into is based upon the conversion price
of $0.000098 per share, corresponding to the original conversion rights of the Debt (as defined in the Debt Exchange Agreement of even
date herewith) (the “Conversion Price”) and shall be determined by dividing the outstanding Principal Amount, or any partial
amount thereto, of the Convertible Note being converted, by the Conversion Price (the "Conversion Shares"). Any request by Holder
to convert must be accompanied by a written notice in the form attached hereto that the Holder hereof elects to convert this Convertible
Note, or a specified portion hereof, which notice shall also state the name or names (with address or addresses) in such Common Stock
shall be issued. No fractional shares will be issued upon any such conversion, but the Company shall make adjustment therefor in cash,
or by rounding to the nearest whole share. In the event of conversion of this Convertible Note in part only, a new Convertible Note or
Convertible Notes for the unconverted portion hereof will be issued in the name of the Holder upon the cancellation of this Convertible
Note.

 

Section 3.2 Stock
Splits. The Fixed Conversion Price shall be protected against all and any stock splits and shall adjusted in the event of any such stock
split.

 

    	  

    	 

    

Section 3.3 Conversion
Limitations. In no event shall the Holder be allowed to effect any conversion of this Note if the issuable Conversion Shares of such conversion,
along with all other shares of Company Common Stock beneficially owned by the Holder and its affiliates, would exceed 4.99% of the outstanding
shares of the Common Stock of the Company (which may be increased up to 9.9% upon 61 days prior written notice by the Investor).

 

Section 3.4 Mechanics
of Conversion.

 

(a)
Not later than three (3) Trading Days after any Conversion Date, the Company or its designated transfer agent, as applicable, shall
issue and deliver to the Depository Trust Company (“DTC”) account on the Holder’s behalf via the Deposit Withdrawal
Agent Commission System (“DWAC”) as specified in the Conversion Notice, registered in the name of the Holder or its designee,
for the number of shares of Common Stock to which the Holder shall be entitled. In the alternative, not later than three (3) Trading Days
after any Conversion Date, the Company shall deliver to the applicable Holder by express courier a certificate or certificates which shall
be free of restrictive legends and trading restrictions representing the number of shares of Common Stock being acquired upon the conversion
of this Note (the “Delivery Date”). Notwithstanding the foregoing to the contrary, the Company or its transfer agent shall
only be obligated to issue and deliver the shares to the DTC on the Holder’s behalf via DWAC (or certificates free of restrictive
legends) if such conversion is in connection with a sale and the Holder has complied with the applicable prospectus delivery requirements.
If in the case of any Conversion Notice such certificate or certificates are not delivered to or as directed by the applicable Holder
by the Delivery Date, the Holder shall be entitled by written notice to the Company at any time on or before its receipt of such certificate
or certificates thereafter, to rescind such conversion, in which event the Company shall immediately return this Note if tendered for
conversion, whereupon the Company and the Holder shall each be restored to their respective positions immediately prior to the delivery
of such notice of revocation, except that any amounts described in Sections 3.3(b) and (c) shall be payable through the date notice of
rescission is given to the Company.

 

(b)
The Company understands that a delay in the delivery of the shares of Common Stock upon conversion of this Note beyond the Delivery
Date could result in economic loss to the Holder. If the Company fails to deliver to the Holder such shares via DWAC or a certificate
or certificates pursuant to this Section hereunder by the Delivery Date, the Company shall pay to such Holder, in cash, an amount per
Trading Day for each Trading Day until such shares are delivered via DWAC or certificates are delivered, together with interest on such
amount at a rate of 10% per annum, accruing until such amount and any accrued interest thereon is paid in full, equal to the greater of
(A) (i) 1% of the aggregate principal amount of the Note requested to be converted for the first five (5) Trading Days after the Delivery
Date and (ii) 2% of the aggregate principal amount of the Note requested to be converted for each Trading Day thereafter and (B) $2,000
per day (which amount shall be paid as liquidated damages and not as a penalty). Nothing herein shall limit a Holder’s right to
pursue actual damages for the Company’s failure to deliver certificates representing shares of Common Stock upon conversion within
the period specified herein and such Holder shall have the right to pursue all remedies available to it at law or in equity (including,
without limitation, a decree of specific performance and/or injunctive relief). Notwithstanding anything to the contrary contained herein,
the Holder shall be entitled to withdraw a Conversion Notice, and upon such withdrawal the Company shall only be obligated to pay the
liquidated damages accrued in accordance with this Section 3.3(b) through the date the Conversion Notice is withdrawn.

 

Section 3.5 Adjustment
of Conversion Price.

 

(a) The
Conversion Price shall be subject to adjustment from time to time as follows:

 

(i)
Adjustments for Stock Splits and Combinations. If the Company shall at any time or from time to time after the Issuance Date, effect
a stock split of the outstanding Common Stock, the applicable Conversion Price in effect immediately prior to the stock split shall be
proportionately decreased. If the

Company
shall at any time or from time to time after the Issuance Date, combine the outstanding shares of Common Stock, the applicable Conversion
Price in effect immediately prior to the combination shall be proportionately increased. Any adjustments under shall be effective at the
close of business on the date the stock split or combination occurs.

 

    	  

    	 

    

(ii)
Adjustments for Certain Dividends and Distributions. If the Company shall at any time or from time to time after the Issuance Date,
make or issue or set a record date for the determination of holders of Common Stock entitled to receive a dividend or other distribution
payable in shares of Common Stock, then, and in each event, the applicable Conversion Price in effect immediately prior to such event
shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business
on such record date, by multiplying, the applicable Conversion Price then in effect by a fraction:

 

		(1)	the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately
prior to the time of such issuance or the close of business on such record date; and

 

		(2)	the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately
prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in
payment of such dividend or distribution.

 

(iii)
Adjustment for Other Dividends and Distributions. If the Company shall at any time or from time to time after the Issuance Date,
make or issue or set a record date for the determination of holders of Common Stock entitled to receive a dividend or other distribution
payable in other than shares of Common Stock, then, and in each event, an appropriate revision to the applicable Conversion Price shall
be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the holders of this Note shall receive
upon conversions thereof, in addition to the number of shares of Common Stock receivable thereon, the number of securities of the Company
which they would have received had this Note been converted into Common Stock on the date of such event and had thereafter, during the
period from the date of such event to and including the Conversion Date, retained such securities (together with any distributions payable
thereon during such period), giving application to all adjustments called for during such period under this Section with respect to the
rights of the holders of this Note; provided, however, that if such record date shall have been fixed and such dividend is not fully paid
or if such distribution is not fully made on the date fixed therefor, the Conversion Price shall be adjusted pursuant to this paragraph
as of the time of actual payment of such dividends or distributions.

 

(iv)
Adjustments for Reclassification, Exchange or Substitution. If the Common Stock issuable upon conversion of this Note at any time
or from time to time after the Issuance Date shall be changed to the same or different number of shares of any class or classes of stock,
whether by reclassification, exchange, substitution or otherwise (other than by way of a stock split or combination of shares or stock
dividends, then, and in each event, an appropriate revision to the Conversion Price shall be made and provisions shall be made (by adjustments
of the Conversion Price or otherwise) so that the Holder shall have the right thereafter to convert this Note into the kind and amount
of shares of stock and other securities receivable upon reclassification, exchange, substitution or other change, by holders of the number
of shares of Common Stock into which such Note might have been converted immediately prior to such reclassification, exchange, substitution
or other change, all subject to further adjustment as provided herein.

 

    	  

    	 

    

 

(v)
Adjustments for Reorganization, Merger, Consolidation or Sales of Assets. If at any time or from time to time after the Issuance
Date there shall be a capital reorganization of the or a merger or consolidation of the Company with or into another corporation where
the holders of outstanding voting securities prior to such merger or consolidation do not own over fifty percent (50%) of the outstanding
voting securities of the merged or consolidated entity, immediately after such of the Company’s properties or assets to any other
person (an “Organic Change”), then as a part of such Organic Change an appropriate revision to the Conversion Price shall
be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the Holder shall have the right thereafter
to convert such Note into the kind and amount of shares of stock and other securities or property of the Company or any successor corporation
resulting from Organic Change.

 

(vi)
Issuance of Common Stock Equivalents. If the Company, at any time after the Issuance Date, shall issue any securities convertible
into or exchangeable for, directly or indirectly, Common Stock (“Convertible Securities”), other than the Note, or any rights
or warrants or options to purchase any such

Common Stock
or Convertible Securities, shall be issued or sold (collectively, the “Common Stock

Equivalents”)
and the aggregate of the price per share for which Additional Shares of Common Stock may be issuable thereafter pursuant to such Common
Stock Equivalent, plus the consideration received by the Company for issuance of such Common Stock Equivalent divided by the number of
shares of Common Stock issuable pursuant to such Common Stock Equivalent (the “Aggregate Per Common Share Price”) shall be
less than the applicable Conversion Price then in effect, or if, after any such issuance of Common Stock Equivalents, the price per share
for which Additional Shares of Common Stock may be issuable thereafter is amended or adjusted, and such price as so amended shall make
the Aggregate Per Share Common Price be less than the applicable Conversion Price in effect at the time of such amendment or adjustment,
then the applicable Conversion Price upon each such issuance or amendment shall be adjusted on the basis that (1) the maximum number of
Additional Shares of Common Stock issuable pursuant to all such Common Stock Equivalents shall be deemed to have been issued (whether
or not such Common Stock Equivalents are actually then exercisable, convertible or exchangeable in whole or in part) as of the earlier
of (A) the date on which the Company shall enter into a firm contract for the issuance of such Common Stock Equivalent, or

 

(B) the
date of actual issuance of such Common Stock Equivalent. No adjustment of the applicable Conversion Price shall be made under this subsection
(vii) upon the issuance of any Convertible Security which is issued pursuant to the exercise of any warrants or other subscription or
purchase rights therefor, if any adjustment shall previously have been made to the exercise price of such warrants then in effect upon
the issuance of such warrants or other rights pursuant to this subsection (vii). No adjustment shall be made to the Conversion Price upon
the issuance of Common Stock pursuant to the exercise, conversion or exchange of any Convertible Security or Common Stock Equivalent where
an adjustment to the Conversion Price was made as a result of the issuance or purchase of any Convertible Security or Common Stock Equivalent.

 

(vii) Consideration
for Stock. In case any shares of Common Stock or any Common Stock Equivalents shall be issued or sold:

 

		(1)	in connection with any merger or consolidation in which the Company is the surviving corporation (other
than any consolidation or merger in which the previously outstanding shares of Common Stock of the Company shall be changed to or exchanged
for the stock or other securities of another corporation), the amount of consideration therefor shall be, deemed to be the fair value,
as determined reasonably and in good faith by the Board of Directors of the Company, of such portion of the assets and business of the
nonsurviving corporation as such Board may determine to be attributable to such shares of Common Stock, Convertible Securities, rights
or warrants or options, as the case may be; or

 

		(2)	in the event of any consolidation or merger of the Company in which the Company is not the surviving corporation
or in which the previously outstanding shares of Common Stock of the Company shall be changed into or exchanged for the stock or other
securities of another corporation, or in the event of any sale of all or substantially all of the assets of the Company for stock or other
securities of any corporation, the Company shall be deemed to have issued a number of shares of its Common Stock for stock or securities
or other property of the other corporation computed on the basis of the actual exchange ratio on which the transaction was predicated,
and for a consideration equal to the fair market value on the date of such transaction of all such stock or securities or other property
of the other corporation. If any such calculation results in adjustment of the applicable Conversion Price, or the number of shares of
Common Stock issuable upon conversion of the Note, the determination of the applicable Conversion Price or the number of shares of Common
Stock issuable upon conversion of the Note immediately prior to such merger, consolidation or sale, shall be made after giving effect
to such adjustment of the number of shares of Common Stock issuable upon conversion of the Note. In the event Common Stock is issued with
other shares or securities or other assets of the Company for consideration which covers both, the consideration computed as provided
in this Section 3.5(viii) shall be allocated among such securities and assets as determined in good faith by the Board of Directors of
the Company.

 

    	  

    	 

    

(b)
Record Date. In case the Company shall take record of the holders of its Common Stock for the purpose of entitling them to subscribe
for or purchase Common Stock or Convertible Securities, then the date of the issue or sale of the shares of Common Stock shall be deemed
to be such record date.

 

(c)
Certain Issues Excepted. Anything herein to the contrary notwithstanding, the Company shall not be required to make any adjustment
to the Conversion Price in connection with (i) securities issued (other than for cash) in connection with a merger, acquisition, or consolidation,
(ii) securities issued pursuant to a bona fide firm underwritten public offering of the Company’s securities, (iii) securities issued
pursuant to the conversion or exercise of convertible or excercisable securities issued or outstanding on or prior to the date hereof
or issued pursuant to the Purchase Agreement, (iv) the shares of Common Stock issuable upon the exercise of Warrants, (v) securities issued
in connection with strategic license agreements or other partnering arrangements so long as such issuances are not for the purpose of
raising capital, (vi) Common Stock issued or options to purchase Common Stock granted or issued pursuant to the Company’s stock
option plans and employee stock purchase plans as they now exist and (vii) the payment of any accrued interest in shares of Common Stock
pursuant to this Note.

 

(d)
No Impairment. The Company shall not, by amendment of its Certificate of Incorporation or through any reorganization, transfer
of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith, assist in
the carrying out of all the provisions of this agreement and in the taking of all such action as may be necessary or appropriate in order
to protect the Conversion Rights of the Holder against impairment. In the event a Holder shall elect to convert any Note as provided herein,
the Company cannot refuse conversion based on any claim that such Holder or any one associated or affiliated with such Holder has been
engaged in any violation of law, violation of an agreement to which such Holder is a party or for any reason whatsoever, unless, an injunction
from a court, or notice, restraining and or adjoining conversion of all or of said Note shall have issued and the Company posts a surety
bond for the benefit of such Holder in an amount equal to one hundred thirty percent (130%) of the amount of the Note the Holder has elected
to convert, which bond shall remain in effect until the completion of arbitration/litigation of the dispute and the proceeds of which
shall be payable to such Holder in the event it obtains judgment.

 

(e)
Certificates as to Adjustments. Upon occurrence of each adjustment or readjustment of the Conversion

Price or number
of shares of Common Stock issuable upon conversion of this Note pursuant to this Section 3.5, the Company at its expense shall promptly
compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Holder a certificate setting forth such
adjustment and readjustment, showing in detail the facts upon which such adjustment or readjustment is based. The Company shall, upon
written request of the Holder, at any time, furnish or cause to be furnished to the Holder a like certificate setting forth such adjustments
and readjustments, the applicable Conversion Price in effect at the time, and the number of shares of Common Stock and the amount, if
any, of other securities or property which at the time would be received upon the conversion of this Note. Notwithstanding the foregoing,
the Company shall not be obligated to deliver a certificate unless such certificate would reflect an increase or decrease of at least
one percent (1%) of such adjusted amount.

 

    	  

    	 

    

(f)
Issue Taxes. The Company shall pay any and all issue and other taxes, excluding federal, state or local income taxes, that may
be payable in respect of any issue or delivery of shares of Common Stock on conversion of this Note pursuant thereto; provided, however,
that the Company shall not be obligated to pay any transfer taxes resulting from any transfer requested by the Holder in connection with
any such conversion.

 

(g)
Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of this Note.

In lieu of any
fractional shares to which the Holder would otherwise be entitled, the Company shall pay cash equal to the product of such fraction multiplied
by the average of the Closing Bid Prices of the Common Stock for the five (5) consecutive Trading Days immediately preceding the Conversion
Date.

 

(h)
Reservation of Common Stock. The Company shall at all times when this Note shall be outstanding, reserve and keep available out
of its authorized but unissued Common Stock, such number of shares of Common Stock as shall from time to time be sufficient to effect
the conversion of this Note and all interest accrued thereon; provided that the number of shares of Common Stock so reserved shall at
no time be less than one hundred twenty percent (120%) of the number of shares of Common Stock for which this Note and all interest accrued
thereon are at any time convertible. The Company shall, from time to time in accordance with Nevada corporate law, increase the authorized
number of shares of Common Stock if at any time the unissued number of authorized shares shall not be sufficient to satisfy the Company’s
obligations under this agreement.

 

(i)
Regulatory Compliance. If any shares of Common Stock to be reserved for the purpose of conversion of this Note or any interest
accrued thereon require registration or listing with or approval of any governmental authority, stock exchange or other regulatory body
under any federal or state law or regulation or otherwise before such shares may be validly issued or delivered upon conversion, the Company
shall, at its sole cost and expense, in good faith and as expeditiously as possible, endeavor to secure such registration, listing or
approval, as the case may be.

 

Section 3.6 Inability
to Fully Convert.

 

(a)
Holder’s Option if Company Cannot Fully Convert. If, upon the Company’s receipt of a Conversion Notice, the Company
cannot issue shares of Common Stock for any reason, including, without limitation, because the Company (w) does not have a sufficient
number of shares of Common Stock authorized and available, or (x) is otherwise prohibited by applicable law or by the rules or regulations
of any stock exchange, interdealer quotation system or other self-regulatory organization with jurisdiction over the Company or any of
its securities from issuing all of the Common Stock which is to be issued to the Holder pursuant to a Conversion Notice, then the Company
shall issue as many shares of Common Stock as it is able to issue in accordance with the Holder’s Conversion Notice and, with respect
to the unconverted portion of this Note, the Holder, solely at Holder’s option, can elect to: (ii) void its Conversion Notice and
retain or have returned, as the case may be, this Note that was to be converted pursuant to the Conversion Notice (provided that the Holder’s
voiding its Conversion Notice shall not effect the Company’s obligations to make any payments which have accrued prior to the date
of such notice).

 

In the event a Holder
shall elect to convert any portion of its Notes as provided herein, the Company cannot refuse conversion based on any claim that such
Holder or anyone associated or affiliated with such Holder has been engaged in any violation of law, violation of an agreement to which
such Holder is a party or for any reason whatsoever, unless, an injunction from a court, on notice, restraining and or adjoining conversion
of all or of said Notes shall have been issued and the Company posts a surety bond for the benefit of such Holder in an amount equal to
130% of the principal amount of the Notes the Holder has elected to convert, which bond shall remain in effect until the completion of
arbitration/litigation of the dispute and the proceeds of which shall be payable to such Holder in the event it obtains judgment.

 

    	  

    	 

    

(b)
Mechanics of Fulfilling Holder’s Election. The Company shall immediately send via facsimile to the Holder, upon receipt of
a facsimile copy of a Conversion Notice from the Holder which cannot be fully satisfied as described in Section 3.7(a) above, a notice
of the Company’s inability to fully satisfy the Conversion Notice (the

“Inability
to Fully Convert Notice”). Such Inability to Fully Convert Notice shall indicate (i) the reason why the Company is unable to fully
satisfy such holder’s Conversion Notice, (ii) the amount of this Note which cannot be converted and (iii) the applicable Mandatory
Prepayment Price. The Holder shall notify the Company of its election pursuant to Section 3.7(a) above by delivering written notice via
facsimile to the Company (“Notice in Response to

Inability to Convert”).

 

Section 3.7 No Rights
as Shareholder. Nothing contained in this Note shall be construed as conferring upon the Holder, prior to the conversion of this Note,
the right to vote or to receive dividends or to consent or to receive notice as a shareholder in respect of any meeting of shareholders
for the election of directors of the Company or of any other matter, or any other rights as a shareholder of the Company.

 

ARTICLE
IV

		MISCELLANEOUS	

 

Section 4.1 Notices.
Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall be in writing and shall be
effective (a) upon hand delivery by telex (with correct answer back received), telecopy or facsimile at the address or number designated
in the Purchase Agreement (if delivered on a business day during normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be
received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such
address, or upon actual receipt of such mailing, whichever shall first occur. The Company will give written notice to the Holder at least
ten (10) days prior to the date on which the Company takes a record (x) with respect to any dividend or distribution upon the Common Stock,
(y) with respect to any pro rata subscription offer to holders of Common Stock or (z) for determining rights to vote with respect to any
Organic Change, dissolution, liquidation or winding-up and in no event shall such notice be provided to such holder prior to such information
being made known to the public. The Company will also give written notice to the Holder at least ten (10) days prior to the date on which
any Organic Change, dissolution, liquidation or winding-up will take place and in no event shall such notice be provided to the Holder
prior to such information being made known to the public.

 

Section 4.2 Governing
Law. This Note shall be governed by and construed in accordance with the internal laws of the State of California, without giving effect
to any of the conflicts of law principles which would result in the application of the substantive law of another jurisdiction. This Note
shall not be interpreted or construed with any presumption against the party causing this Note to be drafted.

 

Section 4.3 Headings.
Article and section headings in this Note are included herein for purposes of convenience of reference only and shall not constitute a
part of this Note for any other purpose.

 

Section 4.4 Remedies,
Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in this Note shall be cumulative and in addition
to all other remedies available under this Note, at law or in equity (including, without limitation, a decree of specific performance
and/or other injunctive relief), no remedy contained herein shall be deemed a waiver of compliance with the provisions giving rise to
such remedy and nothing herein shall limit a holder’s right to pursue actual damages for any failure by the Company to comply with
the terms of this Note. Amounts set forth or provided for herein with respect to payments, conversion and the like (and the computation
thereof) shall be the amounts to be received by the holder thereof and shall not, except as expressly provided herein, be subject to any
other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder
will cause irreparable and material harm to the Holder and that the remedy at law for any such breach may be inadequate. Therefore the
Company agrees that, in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all other available
rights and remedies, at law or in equity, to seek and obtain such equitable relief, including but not limited to an injunction restraining
any such breach or threatened breach, without the necessity of showing economic loss and without any bond or other security being required.

 

    	  

    	 

    

Section 4.5 Enforcement
Expenses. The Company agrees to pay all costs and expenses of enforcement of this Note, including, without limitation, reasonable attorneys’
fees and expenses.

 

Section 4.6 Binding
Effect. The obligations of the Company and the Holder set forth herein shall be binding upon the successors and assigns of each such party,
whether or not such successors or assigns are permitted by the terms hereof.

 

Section 4.7 Amendments.
This Note may not be modified or amended in any manner except in writing executed by the Company and the Holder.

 

Section 4.8 Compliance
with Securities Laws. The Holder of this Note acknowledges that this Note is being acquired solely for the Holder’s own account
and not as a nominee for any other party, and for investment, and that the Holder shall not offer, sell or otherwise dispose of this Note.
This Note and any Note issued in substitution or replacement therefor shall be stamped or imprinted with a legend in substantially the
following form:

 

“THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR APPLICABLE STATE SECURITIES LAWS,
AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL IN THE FORM,
SUBSTANCE AND SCOPE REASONABLY SATISFACTORY TO THE COMPANY THAT THIS NOTE MAY BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE DISPOSED
OF, UNDER AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES LAWS.”

 

Section 4.9 Consent
to Jurisdiction. Each of the Company and the Holder (i) hereby irrevocably submits to the exclusive jurisdiction of the State of California
for the purposes of any suit, action or proceeding arising out of or relating to this Note and (ii) hereby waives, and agrees not to assert
in any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such court, that the suit,
action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper. Each of the
Company and the Holder consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party
at the address in effect for notices to it under the Purchase Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing in this Section 4.9 shall affect or limit any right to serve process in any other manner
permitted by law. Each of the Company and the Holder hereby agree that the prevailing party in any suit, action or proceeding arising
out of or relating to this Note shall be entitled to reimbursement for reasonable legal fees from the non-prevailing party.

Section 4.10 Parties
in Interest. This Note shall be binding upon, inure to the benefit of and be enforceable by the Company, the Holder and their respective
successors and permitted assigns.

Section 4.11 Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercise thereof or of any other right, power or privilege.

 

Section 4.12 Company
Waivers. Except as otherwise specifically provided herein, the Company and all others that may become liable for all or any part of the
obligations evidenced by this Note, hereby waive presentment, demand, notice of nonpayment, protest and all other demands’ and notices
in connection with the delivery, acceptance, performance and enforcement of this Note, and do hereby consent to any number of renewals
of extensions of the time or payment hereof and agree that any such renewals or extensions may be made without notice to any such persons
and without affecting their liability herein and do further consent to the release of any person liable hereon, all without affecting
the liability of the other persons, firms or Company liable for the payment of this Note, AND DO HEREBY WAIVE TRIAL BY JURY.

 

    	  

    	 

    

(a)
No delay or omission on the part of the Holder in exercising its rights under this Note, or course of conduct relating hereto,
shall operate as a waiver of such rights or any other right of the Holder, nor shall any waiver by the Holder of any such right or rights
on any one occasion be deemed a waiver of the same right or rights on any future occasion.

 

(b)
THE COMPANY ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A COMMERCIAL TRANSACTION, AND TO THE EXTENT ALLOWED
BY APPLICABLE LAW, HEREBY WAIVES ITS RIGHT TO NOTICE AND HEARING WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE HOLDER OR ITS SUCCESSORS
OR ASSIGNS MAY DESIRE TO USE.

 

Dated: March 23,
2022

 

ECO INNOVATION GROUP, INC.

 

 

 

 

By: /s/ Julia
Otey-Raudes   

Julia Otey-Raudes,
CEO

 

 

    	  

    	 

    

 

 

FORM OF NOTICE OF
CONVERSION

 

(To be Executed
by the Registered Holder in order to Convert the Note)

 

The undersigned
hereby irrevocably elects to convert $ ________________ of the principal amount of the above Note into shares of Common Stock of Eco Innovation
Group Inc. (the “Company”) according to the conditions hereof, as of the date written below.

 

Date of Conversion:
___________________________________________ Applicable Conversion Price: ___________________________________

 

Number of shares
of Common Stock beneficially owned or deemed beneficially owned by the Holder on the Date of Conversion:

 

 

 

Signature: ____________________

Print Name: __________________

Address: ____________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}]]