Document:

Exhibit
10.2 

CONVERTIBLE
PROMISSORY NOTE 

THIS
NOTE AND ANY SHARES OF STOCK ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THIS NOTE AND ANY SHARES OF STOCK ISSUABLE UPON THE CONVERSION HEREOF MAY NOT BE
SOLD, OFFERED FOR SALE, MORTGAGED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT COVERING THIS NOTE OR SUCH SHARES UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR THE DELIVERY OF AN OPINION
OF COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. THIS NOTE IS ALSO SUBJECT TO RESTRICTIONS ON TRANSFER.

Regen
BioPharma, Inc. 

Issue
Date: March 3, 2015  Principal Amount: $100,000

1. Terms.
For value received, the Regen BioPharma, Inc., a Nevada corporation (the “Company”) hereby absolutely and unconditionally
promises to pay to the order of______________, LLC (the "Lender") ON DEMAND AT ANY TIME AFTER March 3, 2016 (the “Maturity
Date”), the principal amount of One Hundred Thousand Dollars ($100,000) and interest on the whole amount of said principal
sum outstanding and remaining from time to time unpaid (the “Note”), commencing from the date hereof and continuing
until payment in full of this Note or conversion as hereinafter provided, at an annual rate equal to ten percent (10%) simple
interest. Interest shall be payable quarterly upon demand or upon conversion pursuant to Section 2 hereunder. Interest shall be
computed on the basis of the actual number of days elapsed divided by 365. Principal and interest shall be payable in lawful money
of the United States of America, at the principal place of business of the Lender or at such other place as the Lender may have
designated from time to time in writing to the Company.

2. Conversion.

2.1
Conversion Right. The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid
principal amount of this Note 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 Company into which such Common Stock shall hereafter be changed
or reclassified at the conversion price (the “Conversion Price”) determined as provided herein (a “Conversion”).
The Lender shall have the right to convert one hundred percent (100%) of the Principal Amount immediately upon execution of this
agreement and any accrued interest may be converted as well.

The
number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the principal
amount of this Note to be converted (the “Conversion Amount”) by the applicable Conversion Price as defined in this
Section 2 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 Company by the Lender on such conversion date (the “Conversion Date”).

2.2
Conversion Price. The “Conversion Price” shall be defined as a 65% discount to the lowest Trading Price
(as defined below) for the Common Stock during the thirty (30) Trading Day (as defined below) period ending on the latest
complete Trading Day prior to the Conversion Date. “Trading Price” means the closing bid price on the
Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting
service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal
trading market for such security, the closing bid price of such security on the principal securities exchange or trading
market where such security is listed or traded or, if no closing bid price of such security is available in any of the
foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the
“pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security
on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the
Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on
the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded.
“Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting
Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations,
recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the
Lender’s securities.

2.3
Method of Conversion. Subject to Section 2.1, this Note may be converted by the Lender by submitting to the Company a
Notice of Conversion by facsimile, e-mail or other reasonable means of communication dispatched on the Conversion Date prior to
5:00 p.m., New York, New York time. The Lender shall not be required to physically surrender this Note to the Company unless the
entire unpaid principal amount of this Note is so converted. The Lender and the Company shall maintain records showing the principal
amount so converted and the dates of such conversions 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 Company 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 Lender
may not transfer this Note unless the Lender first physically surrenders this Note to the Company, whereupon the Company will
forthwith issue and deliver upon the order of the Lender a new Note of like tenor, registered as the Lender (upon payment by the
Lender of any applicable transfer taxes) may request, representing in the aggregate the remaining unpaid principal amount of this
Note.

Upon
receipt by the Company from the Lender of a facsimile transmission, e-mail, or other reasonable means of communication of a Notice
of Conversion meeting the requirements for conversion, the Company shall issue and deliver or cause to be issued and delivered
to or upon the order of the Lender certificates for the Common Stock issuable upon such conversion within five (5) business days
after such receipt. Upon receipt by the Company of a Notice of Conversion, the Lender shall be deemed to be the Lender of record
of the Common Stock issuable upon such conversion, the outstanding principal amount and the amount of accrued and unpaid interest
on this Note shall be reduced to reflect such conversion. 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 as herein provided on such conversion.
In lieu of delivering physical certificates representing the Common Stock issuable upon conversion, provided the Company is participating
in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer (“FAST”) program, upon request
of the Lender, the Company shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock
issuable upon conversion to the Lender by crediting the account of Lender’s Prime Broker with DTC through its Deposit Withdrawal
Agent Commission (“DWAC”) system.

2.4
Timing of the sale of Common Shares. Upon expiration of Rule 144, the Company will, at the request of the Investor, remove
the sale restrictions on one sixth (1/6) of the shares that resulted from conversions made through the issuance of this note,
each month, for a period of six months, with all restrictions being removed by the Company by the expiration of the six month
subsequent to Rule 144.

2.5
Concerning the Shares. The shares of Common Stock and/or Preferred Stock 
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 Act or (ii) the Company or its transfer agent shall have been furnished with an opinion of
counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to
the effect that the shares to be sold or transferred may be sold or transferred pursuant to an exemption from such
registration or (iii) such shares are sold or transferred pursuant to Rule 144 under the Act (or a successor rule)
("Rule 144") or (iv) such shares are transferred to an "affiliate" (as defined in Rule 144) of the
Company who agrees to sell or otherwise transfer the shares only in accordance with this Section 2.5 and who is an
Accredited Investor as the term Accredited Investor is defined in Rule 501 of Regulation D, promulgated under the
Act. 

Subject
to the removal provisions set forth below, until such time as the shares of Common Stock and/or Preferred Stock  issuable
upon conversion of this Note have been registered under the Act or otherwise may be sold pursuant to Rule 144 without any restriction
as to the number of securities as of a particular date that can then be immediately sold, each certificate for shares of issuable
upon conversion of this Note 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 OR  SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I)
IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
(B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE LENDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS
NOT REQUIRED UNDER SAID ACT."

The
legend set forth above shall be removed and the Company shall issue to the Lender a new certificate therefore free of any transfer
legend if (i) the Company or its transfer agent shall have received an opinion of counsel, in form, substance and scope customary
for opinions of counsel in comparable transactions, to the effect that a public sale or transfer of such Common Stock and/or Preferred
Stock  may be made without registration under the Act and the shares are so sold or transferred, (ii) such Lender provides
the Company or its transfer agent with reasonable assurances that the Common Stock and/or Preferred Stock  issuable upon
conversion of this Note (to the extent such securities are deemed to have been acquired on the same date) can be sold pursuant
to Rule 144 or (iii) in the case of the Common Stock and/or Preferred Stock  issuable upon conversion of this Note, such
security is registered for sale by under an effective registration statement filed under the Act or (iv) otherwise may be sold
pursuant to Rule 144 without any restriction as to the number of securities as of a particular date that can then be immediately
sold.

2.6 
Incentive to Convert on or prior to 180 Days from Issue Date.  Each Lender who converts principal into Common Stock
of the Company on or prior to 180 days from Issuance shall receive one share of Preferred Series “A” Stock of the
Company for each share of Common Stock received through conversion.  Lenders who convert principal into Common Stock of the
Company after 180 from Issuance shall receive no shares of Preferred Stock of the Company. 

3. Prepayment.
Notwithstanding anything to the contrary contained herein, the Company shall have the right, exercisable on not less than three
(3) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding
principal and accrued interest. Any notice of prepayment hereunder shall be delivered to the Lender at its registered addresses
and shall state that the Company is exercising its right to prepay the Note and the date of prepayment, which shall be not more
than three (3) Trading Days from the date of the prepayment notice. Upon receipt of a prepayment notice, Lender shall have the
right, but not the obligation, to accelerate the conversion period specified in Section 2.1 and convert that portion of the outstanding
principal balance which is subject to prepayment to Common Shares as provided for in Section 2.

4. Events
of Default.

4.1
The following shall constitute events of default (individually an "Event of Default"):

(a)
default in the payment, when due or payable, of an obligation to pay interest or principal under this Note, which default is not
cured by payment in full of the amount due within thirty (30) days from the date that the Lender receives notice of the occurrence
of such default;

(b)
filing of a petition in bankruptcy or the commencement of any proceedings under any bankruptcy laws by or against the Company,
which filing or proceeding, is not dismissed within ninety (90) days after the filing or commencement thereof; or

(c)
failure of the Company to comply in any way with the terms, covenants or conditions contained in this Note.

4.2
If an Event of Default shall occur and be continuing, the Lender may, at its option, declare this Note to be immediately due and
payable without further notice or demand, whereupon this Note shall become immediately due and payable without presentment, demand
or protest, all of which are hereby waived by the Company. 

5. Transfer
of Note. This Note may not be transferred or assigned other than a transfer or assignment to an Affiliate of the Lender. As
used herein, the term “Affiliate” means an entity that directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, the Lender.

6. Certain
Waivers. The Company hereby expressly and irrevocably waives presentment, demand, protest, notice of protest and any other
formalities of any kind.

7. Amendment,
Modification or Termination. This Note may only be modified, amended, or terminated (other than by payment in full) by an
agreement in writing signed by the Company and the Lender. No waiver of any term, covenant or provision of this Note shall be
effective unless given in writing by the Lender.

8. Governing
Law. This Note and the obligations of the Company hereunder shall be governed by and interpreted and determined in accordance
with the laws of the State of California (excluding the laws and rules of law applicable to conflicts or choice of law).

IN
WITNESS WHEREOF, this Note has been duly executed on behalf of the undersigned on the day and in the year first above written.

	REGEN BIOPHARMA, INC. 	 
	 	 
	/s/: David R. Koos	March 19, 2015
	David R. Koos 	 
	Chairman and CEO 	 

 

The
foregoing Convertible Promissory Note is hereby accepted and agreed to by the undersigned on and as of the date first above written.Exhibit
10.3

 

This
Agreement (“Agreement”) concerning a sublease of commercial property is made by and between Human BioMolecular
Research Institute (“HBRI”), a Washington 501(c)3 non-profit corporation located at 5310 Eastgate Mall San Diego,
CA 92121 and Regen Biopharma, Inc., a Nevada corporation located at 4700 Spring Street, St. 304 hereinafter referred to
as CC, subleasor at HBRI (“the Parties”). In consideration of the mutual promises herein and for other consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

		1.	Premises, Rent, and Terms

 

HBRI shall sublease to CC approximately 199.5 square feet of HBRI
                                         leased premises at 5310 Eastgate Mall, San Diego, CA 92121, as depicted in Appendix A
                                         attached hereto and incorporated herein (including lab space, hood space and PCR hood),
                                         on the terms and conditions set forth in this Agreement. The term of the sublease shall
                                         be from March 9, 2015 to September 8, 2015 (a period of 6 months) and will automatically
                                         renew thereafter for the same 6 month term unless written notice is received within 60
                                         days prior to renewal. HBRI shall review the sublease agreement periodically and at least
                                         annually and have the right to modestly change the terms for good reason; including but
                                         not limited to an increase in scope, space, personnel, and usage by CC. An annual cost
                                         of living increase of 5% will be implemented each year. Either party may terminate this
                                         Agreement upon giving the other party ninety days' written notice.

 

CC
shall pay HBRI $400 on the 1st day of each calendar month of the term. A refundable deposit of $4000 will be due before taking
possession of the lab space and shall be refunded to CC no less than thirty days upon the termination of this Agreement provided
that CC has substantially complied with its obligations hereunder. Total monthly fees are due by the 1st (first) of
each month, regardless of whether or not an invoice is received. If payment is not received by the 10th (tenth) of
each month a late fee of $25 will be assessed and the unpaid balance will begin to accrue interest at 10.0% APR compounded monthly
from the original due date (the first of the month) until the entire amount owed is paid. HBRI reserves the right to review the
payment for services and request additional reasonable reimbursement for reasonable additional costs for time and materials if
the payment for service is less than the amount of service provided.

 

In
consideration of the rent payable under this Agreement, CC shall receive use of the premises described above and the
privileges and services described herein in conformance with the signed Research Agreement (Appendix E). The Research
Agreement is an inextricable portion of this Agreement. CC shall be entitled to the benefit of services and utilities
received by HBRI as part of its lease to the subleased premises, including electricity, heating, and janitorial services, and
shall further be entitled to use of HBRI washroom/sterilizing facilities, prep room, and mutually agreed equipment and
facilities, as listed in Appendix B. HBRI personnel who operate and maintain such equipment and services shall provide
reasonable assistance to CC in connection with such use. CC shall provide for their company’s own phone, fax, internet,
and printing/copying services and installation.

 

Any
services, materials, and time above and beyond the standard performance of this agreement will be charged separately by HBRI at
an hourly rate of $50/hr.

 

CC
shall adhere to all statutory, regulatory, permitting and other San Diego County, State and Federal legal requirements with respect
to its activities, and to safe laboratory practices, including without limitation all HBRI procedures concerning chemical, radioisotope,
biohazards, and safety regulations. HBRI shall provide CC with copies of HBRI procedures manuals that relate to its facility and
health and safety procedures, with which CC shall comply.

 

Each
party shall defend, indemnify, and hold the other harmless from any and all claims, losses, damages, liabilities, and causes of
action, including without limitation the payment of reasonable attorneys’ fees and expert witnesses’ fees, which such
party may incur in connection with any act or omission by the other party in performance of this Agreement or the other party’s
use of the subleased premises. In the case of any disagreement that results in legal action, the prevailing Party shall have legal
fees paid by the non-prevailing party.

 

CC
shall not be entitled to use of HBRI mail, fax, and general administration.

 

This
sublease is not transferable and shall not be further subleased.

 

		2.	Compliance
                                         with and Remedies under HBRI Lease

 

CC
shall comply with all terms of tenancy set forth in the HBRI lease to the premises at 5310 Eastgate Mall, San Diego, CA 92121
(the “HBRI Lease”), including without limitation Landlord’s Rules and Regulations set forth in Appendix C thereof,
with the sole exception of HBRI’s obligation to pay rent under the HBRI Lease. The HBRI Lease is attached hereto and incorporated
herein as Appendix C. HBRI shall be entitled to enforce the terms of the HBRI Lease against CC and to obtain remedies with respect
to CC as if HBRI were the “Landlord” in such HBRI Lease.

 

		3.	Insurance

 

CC shall maintain comprehensive liability insurance with limits of $2 million per
                                         occurrence, at a minimum, throughout the Term and for a reasonable period thereafter.
                                         At the time of signing this Agreement, CC shall provide HBRI with a copy of its insurance
                                         policy showing that CC carries sufficient comprehensive liability insurance to satisfy
                                         the terms of Section 12 of the HBRI Lease (i.e., $2,000,000/occurrence coverage policy).
                                         In no event shall CC occupy the subleased premises until it has provided a copy of such
                                         an insurance policy to HBRI. CC shall provide proof of workers compensation
before use of the laboratory facilities. CC shall provide HBRI with prompt written notice of any material change, cancellation
or expiration of the above-required insurance.

 

		4.	Notices.

 

Any
notice required or given by either party hereunder shall be in writing and shall be deemed given on the date received if delivered
personally or by facsimile, one (1) day after prepaid deposit with any nationally recognized overnight delivery service, or three
(3) days after the date postmarked, if sent postage prepaid by registered or certified mail, return receipt requested, to the
following addresses and facsimile numbers:

 

(a)Notices
to HBRI should be directed to:

 

Rebekah
Handley, COO

Human
BioMolecular Research Institute

5310
Eastgate Mall

San
Diego, CA 92121

 

(b)Notices
to CC should be directed to:

 

David
Koos

Regen
Bipharma, inc.

Chairman
and CEO

4700
Spring Street

Suite
304

La
Mesa CA 91941

 

		5.	Miscellaneous.

 

		a.	CC
                                         shall notify HBRI in advance of any nonstandard hazardous chemical or biological materials
                                         (as per San Diego Uniform Fire and County Health Codes) that CC intends to store or use
                                         on the subleased premises, to ensure that HBRI’s licenses are adhered to and the
                                         subleased premises can safely accommodate the materials.

 

		b.	Each
                                         party will be responsible for its own business operations. Any costs related to CC with
                                         respect to this sublease and any costs related to HBRI with respect to CC’s new
                                         sub tenancy, shall be the responsibility of the individual parties except as otherwise
                                         expressly agreed hereunder.

 

		c.	Each
                                         party agrees to keep confidential all intellectual property and other confidential or
                                         proprietary information of the other party in conformance with the signed Non-Disclosure
                                         Agreement (Appendix D). CC will not compete with HBRI for personnel. CC will not hire
                                         HBRI employees within 3 years of the termination of this contract.

 

		d.	At
                                         the termination of this sublease, CC will return the subleased premises to a condition
                                         of reasonable cleanliness acceptable to HBRI, except to the extent the parties may determine
                                         by mutual written agreement. In particular, and without limiting the foregoing, CC will
                                         arrange for all CC’s hazardous waste, in excess of the reasonable accumulation
                                         periodically disposed, to be removed from the premises using approved contractors, all
                                         at CC’s sole expense. If the subleased premises require unreasonable or excessive
                                         decontamination of radioisotopes, chemicals, infectious agents, or for any other cause,
                                         HBRI will arrange for such decontamination and CC will reimburse HBRI fully for any such
                                         costs.

 

		e.	This
                                         agreement comprises the full agreement of HBRI and CC with regard to the rental of space.
                                         Any amendments to and extensions of this Agreement shall be in writing and executed by
                                         both parties. Subject to the limitations set forth herein, this Agreement shall be binding
                                         upon and shall inure to the benefit of the parties and their respective successors and
                                         assigns.

 

		f.	Failure
                                         of either party to insist upon the strict performance of any provision of this Agreement
                                         or to exercise any option, right, remedy, or power continued in this Agreement shall
                                         not constitute a waiver or relinquishment thereof for the future. All rights and remedies
                                         of either party shall be cumulative and no right or remedy shall be exclusive of any
                                         other right or remedy. In case any one or more of the provisions contained in this Agreement
                                         shall, for any reason, be held to be invalid, illegal or unenforceable in any respect,
                                         such invalidity, illegality or unenforceability shall not affect the other provisions
                                         of this Agreement, and this Agreement shall be construed as if such invalid, illegal
                                         or unenforceable provision had never been contained herein. If, moreover, any one or
                                         more of the provisions contained in this Agreement shall for any reason be held to be
                                         excessively broad as to duration, geographical scope, activity or subject, it shall be
                                         construed by limiting and reducing it, so as to be enforceable to the extent compatible
                                         with the applicable law as it shall then appear.

 

		g.	This
                                         Agreement will be governed and construed in accordance with the laws of the State of
                                         California as applied to transactions taking place wholly within California between California
                                         residents. HBRI hereby expressly consents to the personal jurisdiction of the state and
                                         federal courts located in San Diego County, California for any lawsuit filed there against
                                         HBRI by CC or CC by HBRI arising from or related to this Agreement.

 

		h.	This
                                         Agreement shall be available for review by HBRI’s landlord as specified in Section
                                         15 of the HBRI Lease. 

 

		i.	HBRI
                                         is not in default on any conditions of the HBRI Lease.

 

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the dates set forth below,

 

	Regen Biopharma, Inc.	 	HUMAN BIOMOLECULAR RESEARCH INSTITUTE
	 	 	 
	By/s/ David Koos	 	By/s/ John R. Cashman
	David Koos	 	John R. Cashman, Ph.D.
	Title: Chairman and CEO	 	Title: Director
	Date: March 20, 2015	 	Date: March 20, 2015

 

    	 

    	 

    

Appendix
A

 

DESIGNATED
LEASED SPACE - FLOOR PLAN

    	 

    	 

    

Appendix
B

HBRI
EQUIPMENT, FACILITIES AND SERVICES

 

Centrifugation
Equipment

Normal
removal of a reasonable amount of hazardous waste

Cell
culture hoods, room and incubators will be shared use with priority use to HBRI

Animal
Facilities utilizing HBRI IUCAC and approved protocols (animals costs and a per cage day fee and IACUC charges to be negotiated)

Radioactivity
License, including a reasonable amount as determined by HBRI of radioactive materials. All radioactive material will be ordered
by the facilities manager or his representative and CC shall pay for their share.

Minus
80 and Minus 20 Freezer space

Refrigerator
space

Balances

Chemical
Storage and Safety

Autoclave

Deionized
Water

Milli
Q System (ultra-pure water)

Shipping/Receiving
Room

Benchtop
Centrifuge

Analytical
room UV-vis Spectrometer

Dark
Room (no photography)

pH
meter

 

 

Other:

Parking

Janitorial
Services

Miscellaneous
Supplies (toilet paper, paper towels, hand soap, glassware wash soap, bottled drinking water).

    	 

    	 

    

Appendix
C

LANDLORD
RULES

 

See
HBRI-Dittmann Lease Agreement Attached

    	 

    	 

    

Appendix
D

Non-Disclosure
Agreement

 

See
Executed Non-Disclosure Agreement Attached.

    	 

    	 

    

Appendix
E

HBRI
Research Agreement

 

See
Executed Research Agreement Attached.

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