Document:

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: July 11, 2018Principal Amount: $11,500.00

 

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 Caven Investments LLC (the "Lender") ON DEMAND AT ANY TIME AFTER
May 4, 2021 (the "Maturity Date"), the principal amount of eleven thousand five hundred dollars ($11,500.00) 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 and all or part of the outstanding and unpaid accrued interest 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 and any accrued interest commencing
as of the date which is the earlier of:

 

	(i)		One day
subsequent to the execution of an agreement to a transaction whose completion would result in a "Change of Control"
of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions,
whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding
stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of
Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of
such transaction.

	 		 

	(ii)		(ii) One
day subsequent to the execution of an agreement to a transaction whose completion would result in a "Change of Control"
of KCL Therapeutics, Inc. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions,
whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding
stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of
Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of
such transaction.

	 		 

	(iii)		One day
subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority
percentage of the Company's outstanding equity securities for a limited period of time contingent on shareholders of the Company
tendering a fixed number of their equity securities ("Tender Offer").

	 		 

	(iv)		One day
subsequent to the execution of an agreement that could result in a Transaction Event:

 

"Transaction
Event" shall mean either of:

 

		(a)	The
                                         sale by the Company or by KCL Therapeutics, Inc. of any or all of the Company's proprietary
                                         NR2F6 intellectual property to an unaffiliated third party

 

		(b)	The
                                         granting of a license by the Company or by KCL Therapeutics, Inc. to an unaffiliated
                                         third party granting that unaffiliated third party the right to develop and/or commercialize
                                         any or all of the Company's proprietary NR2F6 intellectual property

 

If
the execution of the agreement resulting in a Transaction Event shall result in a closing of the Transaction Event prior to 30
days subsequent to the execution of the agreement, the right to convert under this subsection (iv) shall be 30 days prior to the
closing to the Transaction Event, and the Company shall provide the Lender with a Notice of Right to Convert at least 30 days
prior to the closing of the Transaction Event.

 

		(v)	That
                                         date which is twenty four (24) months subsequent to the date of execution of this Note.

 

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 P ice" shall be defined as the lower $0.0 I per share, or, a 75% discount
to the closing price of the Common Stock on the Over-the-Counter Bulletin Board on the trading day immediately prior to the date
that a Notice of Conversion is submitted pursuant to Section 2.3. or, if the Over-the-Counter Bulletin Board is not the principal
trading market for such security, the closing price of such security on the principal securities exchange or trading market where
such security is listed or traded on the trading day immediately prior to the date that a Notice of Conversion is submitted pursuant
to Section 2.3. 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. on the trading day immediately prior to the date that a Notice of Conversion is submitted pursuant to Section 2.3.

 

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 ten (10)
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  
Concerning the Shares. The shares of Common 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 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 I 933,
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 I933, 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 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 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 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.

 

2.5 Reverse
Stock Splits. If the number of shares of Common Stock outstanding at any time while this Note is outstanding is decreased
by a combination of the outstanding shares ofC ommon Stock, then, following the record date of such combination,
the Conversion Price shall be appropriately increased so that the number of shares of Common Stock issuable on conversion
hereof shall be decreased in proportion to such decrease in outstanding shares.

 

2.6
Stock Dividends and Stock Splits. If the Company, at any time while this Note is
outstanding subdivides outstanding shares of Common Stock into a larger number of shares then the Conversion price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of the Company)
outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such even'

 

 

3.
Payment.

 

 

WIRE
INSTRUCTIONS:

First
Republic Bank San Francisco, CA ABA 321081669

619-462-6700

Regen
BioPharma, Inc.

Acct#
80002061175

 

 

 

4.          
Prepayment. Notwithstanding anything to the contrary contained herein, the Company
shall have the right, exercisable on not less than ten (10) 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 ten (10) 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.

 

5.     
Warrant Coverage. In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not
to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10%
of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the
Company. The warrants shall have a strike price of $0.01 per share. See Exhibit B (incorporated into this Note) for instructions
on completing the Exercise of Warrants document.

 

 

6.
Events of Default.

 

6.1 
The following shall constitute events of default (individually an "Event of Default"):

 

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.

 

6.2
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.

 

7.
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.

 

8.
Certain Waivers. The Company hereby expressly and irrevocably waives presentment, demand, protest, notice of protest and any other
formalities of any kind.

 

9.
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.

 

10.
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).

 

 

	/s/ David R. Koos	 	 
	David R. Koos		Date
	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.

 

 

	Cav	 	07/11/2018
	Caven Investment LLC	 	Date
	8578 Terraceview Lane North	 	 
	Maple Grove, MN 55311	 	 
	 	 	 

 

    	 	1	 

     

    

 

EXHIBIT
A

NOTICE
OF CONVERSION

The
undersigned hereby elects to convert $ ___________________________ principal amount and ________________ accrued interest of the
Note into that number of shares of Common Stock to be issued pursuant to the conversion of the Note as set forth below of REGEN
BIOPHARMA, INC. according to the conditions of the convertible note of the Company dated as of 2017 as of the date written below.

Date
of Conversion:

	Applicable Conversion Price	 	 
	(Attach Bloomberg price documentation)	 
	Number of Shares of Common Stock to be Issued
    Pursuant to Conversion of Note:	 	 
	 	 	 
	Amount of Principal Balance Due Remaining Under
    the Note After This Conversion:	 	 

Checked
box corresponds 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	 	 

[1
The undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock
set forth below in the name(s) specified immediately below or, if additional space is necessary, on an attachment hereto:

	 	Name:	 	 
	 	Address:	 	 
	 	 	 	 
	 	 	 	 
	 	Phone:	 	 

 

	 	 	 	 
	Name	 	Date	 
	Title	 	 	 

 

 

    	 	2	 

     

    

 

EXHIBIT
B

 

COMMON
STOCK PURCHASE WARRANT REGEN BIOPHARMA, INC.

 

THIS
WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT OR APPLICABLE EXEMPTION OR SAFE
HARBOR PROVISION.

 

 

THIS
COMMON STOCK PURCHASE WARRANT (the "Warrant") certifies that, for value received, Lender is entitled, solely upon the
terms and subject to the limitations on exercise and the conditions hereinafter set forth, to subscribe for and purchase from
the Company, shares of common stock of the Company (the "Warrant Shares"). The purchase price of one Warrant Share under
this Warrant shall be equal to the $0.01 per Warrant Share ("Exercise Price").

 

	1.		In the event
that Company shall exercise Company's rights pursuant to Section 4 of the Note ("Prepayment Clause") , Lender shall
be entitled , on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been
prepaid by the Company ("Prepayment Date") , to subscribe for and purchase from the Company up to that number of Warrant
Shares at the Exercise Price per Share equivalent to that one tenth of that number of Common Shares that Lender would have been
entitled to be issued had Lender exercised Lender's Conversion Right pursuant to Section 2.1 of the Note as of the Prepayment
Date.

	2.		In the event
that, as of the Maturity Date, part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains
outstanding, Lender shall be entitled, on or prior to the close of business on the three (3) month anniversary of the Maturity
Date, to subscribe for and purchase from the Company up to that number of Warrant Shares at the Exercise Price per Share equivalent
to that one tenth of that number of Common Shares that Lender would have been entitled to be issued had Lender exercised Lender's
Conversion Right pursuant to Section 2.1 of the Note as of the Maturity Date.

	3.		If the Company,
at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on
shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance
of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding
shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares
of Common Stock into a smaller number of shares or (iv) issues by reclassification of shares of the Common Stock any shares of
capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall
be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which
the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares
issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant
shall remain unchanged. Any adjustment made pursuant to this Section 3 shall become effective immediately after the record date
for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately
after the effective date in the case of a subdivision, combination or reclassification

	4.		Exercise
of the purchase rights represented by this Warrant may be made, in whole or in part, from and after the initial exercise date,
and then at any time, by delivery to the Company (or such other office or agency of the Company as it may designate by notice
in writing to Lender at the address of the Lender appearing on the books of the Company) of a duly executed facsimile or emailed
copy of the Notice of Exercise form annexed hereto and delivery of the aggregate Exercise Price for the Warrant Shares specified
in the applicable Notice of Exercise by wire transfer.

	5.		Warrant
Shares purchased hereunder will be delivered to Holder within 10 business days of Notice of Exercise.

	6.		The Warrant
Shares 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
6 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 Warrant Shares 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 Warrant Shares that have not been so included in an effective registration
statement or that have 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 securities 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 Warrant Shares can be sold pursuant to Rule 144 or (iii) 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.

 

 

	7.		The Lender
shall not be required to physically surrender this Warrant to the Company. If the Lender has purchased all of the Warrant Shares
available hereunder and the Warrant has been exercised in full, this Warrant shall automatically be cancelled without the need
to surrender the Warrant to the Company for cancellation.

	8.		This Warrant
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.

	9.		FORM OF
WARRANT NOTICE

 

 

NOTICE
OF EXERCISE

 

TO:REGEN
BIOPHARMA, INC.

 

The
undersigned hereby elects to purchaseWarrant Shares of the Company pursuant to the terms of the Warrant issued in connection
with that Convertible Note in the amount of

by
and between 

and
the Company dated 

and
maturing 

,
2020 and

tenders
herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

Please
issue a certificate or certificates representing said Warrant Shares in the name of the undersigned. The undersigned is an "accredited
investor" as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 

[SIGNATURE]

 

Name:-----------------

Date:-----------------

    	 	3EX-4.1

 Exhibit 4.1 
  

 
 AMERICAN MIDSTREAM PARTNERS, LP

 AMERICAN MIDSTREAM FINANCE CORPORATION 

and 
 the Guarantors named herein

  
  

8.500% SENIOR NOTES DUE 2021 
  

 
  

 
 FOURTH SUPPLEMENTAL INDENTURE 

DATED AS OF JULY 31, 2018 
  

 
 WELLS FARGO BANK, NATIONAL
ASSOCIATION, 
 Trustee 
  

 
  

 

 This FOURTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
July 31, 2018, is among American Midstream Partners, LP, a Delaware limited partnership (the “Company”), American Midstream Finance Corporation, a Delaware corporation (“Finance Corp.” and, together with the Company, the
“Issuers”), each of the parties identified under the caption “Guarantors” on the signature page hereto (the “Guarantors”) and Wells Fargo Bank, National Association, a national banking association, as Trustee.
Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture (as defined below). 
 RECITALS

 WHEREAS, the Issuers, the initial Guarantors and the Trustee entered into an Indenture, dated as of December 28, 2016 (as amended,
restated, supplemented, waived or otherwise modified from time to time, the “Indenture”), pursuant to which the Company has issued $425,000,000 in the aggregate principal amount of 8.500% Senior Notes due 2021 (the “Notes”); 

WHEREAS, Section 10.03 of the Indenture provides for the automatic release of the Subsidiary Guarantee of a Guarantor in connection with
any sale or other disposition of Capital Stock of such Guarantor to a Person that is not (either before or after giving effect to such transaction) a Restricted Subsidiary of the Company, if the sale or other disposition does not violate
Section 4.10 of the Indenture and the Guarantor ceases to be a Restricted Subsidiary of the Company as a result of the sale or other disposition; 

WHEREAS, Section 10.03 of the Indenture provides for the automatic release of the Subsidiary Guarantee of a Guarantor at such time as
such Guarantor ceases to guarantee any other Indebtedness of either of the Issuers and any other Guarantor under a Credit Facility (other than the Notes); 

WHEREAS, the Company has sold the Capital Stock of American Midstream Terminaling, LLC, a Delaware limited liability company (“AMID
Terminaling”), Blackwater Midstream Corp., a Nevada corporation (“Blackwater Midstream”), Blackwater Georgia, L.L.C., a Georgia limited liability company (“Blackwater Georgia”), Blackwater Harvey, LLC, a Delaware limited
liability company (“Blackwater Harvey”), and Blackwater New Orleans, L.L.C., a Louisiana limited liability company (“Blackwater Westwego” and, together with AMID Terminaling, Blackwater Midstream, Blackwater Georgia, and
Blackwater Harvey, the “Released Guarantors”) effective July 31, 2018 (the “Effective Date”), after which the Released Guarantors ceased to be Restricted Subsidiaries of the Company, and such sale does not violate
Section 4.10 of the Indenture; 
 WHEREAS, upon the Effective Date, the Released Guarantors will have ceased to guarantee any other
Indebtedness of the Issuers and any other Guarantor under a Credit Facility (other than the Notes); 
 WHEREAS, Section 9.01(g) of the
Indenture provides that the Issuers, the existing Guarantors and the Trustee may amend or supplement the Indenture, without the consent of the Holders of the Notes, in order to evidence the release of the Released Guarantors as Guarantors and from
their obligations under their Subsidiary Guarantees; and 
 WHEREAS, all acts and things prescribed by the Indenture, by law and by the
Certificate of Incorporation and the Bylaws (or comparable constituent documents) of the Issuers, of the Guarantors and of the Trustee necessary to make this Supplemental Indenture a valid instrument legally binding on the Issuers, the Guarantors
and the Trustee, in accordance with its terms, have been duly done and performed; 
 NOW, THEREFORE, to comply with the provisions of the
Indenture and in consideration of the above premises, the Issuers, the Guarantors and the Trustee covenant and agree for the equal and proportionate benefit of the respective Holders of the Notes as follows: 

ARTICLE 1 
 Section 1.01.
This Supplemental Indenture is supplemental to the Indenture and does and shall be deemed to form a part of, and shall be construed in connection with and as part of, the Indenture for any and all purposes. 

  
 1 

 Section 1.02. This Supplemental Indenture shall become effective immediately upon its
execution and delivery by each of the Issuers, the Guarantors and the Trustee. 
 ARTICLE 2 

The parties agree and acknowledge that each of the Released Guarantors was released as a party to and as a Guarantor under the Indenture as of
the Effective Date and that beginning on the Effective Date the Released Guarantors have no further obligations or liabilities under their Subsidiary Guarantees or the provisions of the Indenture. 

ARTICLE 3 
 Section 3.01.
Except as specifically modified herein, the Indenture and the Notes are in all respects ratified and confirmed (mutatis mutandis) and shall remain in full force and effect in accordance with their terms with all capitalized terms used herein
without definition having the same respective meanings ascribed to them as in the Indenture. 
 Section 3.02. Except as otherwise
expressly provided herein, no duties, responsibilities or liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this Supplemental Indenture. This Supplemental Indenture is executed and accepted by the Trustee
subject to all the terms and conditions set forth in the Indenture with the same force and effect as if those terms and conditions were repeated at length herein and made applicable to the Trustee with respect hereto. 

Section 3.03. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

Section 3.04. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of
such executed copies together shall represent the same agreement. Signatures of the parties hereto transmitted by facsimile or .pdf shall be deemed to be their original signatures for all purposes. 

[NEXT PAGE IS SIGNATURE PAGE] 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the date first written above. 
 AMERICAN MIDSTREAM PARTNERS, LP 

By: American Midstream GP, LLC, its sole general partner 

By:        /s/ Eric T.
Kalamaras                                     

Name:   Eric T. Kalamaras 

Title:     Senior Vice President and Chief Financial Officer 

AMERICAN MIDSTREAM FINANCE CORPORATION 

By:        /s/ Eric T.
Kalamaras                                      

Name:   Eric T. Kalamaras 

Title:     Senior Vice President and Chief Financial Officer 

Guarantors: 

American Midstream, LLC 

American Midstream (Alabama Gathering), LLC 

American Midstream (Alabama Intrastate), LLC 

American Midstream (AlaTenn), LLC 

American Midstream (Burns Point), LLC 

American Midstream (Lavaca), LLC 

American Midstream (Louisiana Intrastate), LLC 

American Midstream (Mississippi), LLC 

American Midstream (SIGCO Intrastate), LLC 

American Midstream (Tennessee River), LLC 

American Midstream AMPAN, LLC 

American Midstream Bakken, LLC 

American Midstream Chatom, LLC 

American Midstream Chatom Unit I, LLC 

American Midstream Chatom Unit 2, LLC 

American Midstream Costar, LLC 

American Midstream Delta House, LLC 

American Midstream East Texas Rail, LLC 

American Midstream Emerald, LLC 

American Midstream Gas Solutions, LP 

        By: American Midstream Gas Solutions GP, LLC, 

              its general partner 

American Midstream Gas Solutions GP, LLC 

American Midstream Gas Solutions LP, LLC 

American Midstream Madison, LLC 

American Midstream Marketing, LLC 

American Midstream Mesquite, LLC 

American Midstream Midla Reconfiguration, LLC 

American Midstream Offshore (Seacrest) LP 

By: American Midstream, LLC, 

  its general partner 

American Midstream Onshore Pipelines, LLC 

American Midstream Permian, LLC 

American Midstream Piney Woods, LLC 

Signature Page to Fourth Supplemental Indenture 

 American Midstream Republic, LLC 

American Midstream Transtar Gas Processing, LLC 

AMID Caddo LLC 

AMID Crude Oil Services LLC 

AMID Crude Oil Storage LLC 

AMID Crude Trucking LLC 

AMID Energy Products Supply LLC 

AMID Liquids Trucking LLC 

AMID Merger LP 

        By: American Midstream, LLC, its general partner 

AMID NLR LLC 

AMID Payment Services, LLC 

AMID Refined Products LLC 

AMID Silver Dollar Pipeline LLC 

AMID St. Croix LLC 

Argo Merger GP Sub, LLC 

Centana Gathering, LLC 

Centana Oil Gathering, LLC 

D-Day Offshore Holdings, LLC 

High Point Gas Gathering, L.L.C. 

High Point Gas Gathering Holdings, LLC 

High Point Gas Transmission, LLC 

High Point Gas Transmission Holdings, LLC 

PAM Acquisition Company, LLC 

Panther Offshore Gathering Systems, LLC 

Panther Operating Company, LLC 

Panther Pipeline, LLC 

American Panther, LLC 

Main Pass Oil Gathering Company, LLC 

American Midstream Blackwater, LLC 

Blackwater Investments, Inc. 

Blackwater Maryland, L.L.C. 

By:        /s/ Eric T.
Kalamaras                                      

Name:   Eric T. Kalamaras 

Title:     Senior Vice President and Chief Financial Officer 

Signature Page to Fourth Supplemental Indenture 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ John C Stohlmann

	Name:	 	John C Stohlmann
	Title:	 	Vice President

 Signature Page to Fourth Supplemental Indenture

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