Document:

Exhibit 10.39

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED UNDER ANY STATE SECURITIES LAWS.
SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED
AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL REASONABLY SATISFACTORY
TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER OF THE SECURITIES REPRESENTED BY THIS NOTE IS
FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE SET FORTH HEREIN.

 

	
        Principal Amount: $430,000

        Purchase Price: $400,000

        Original Issue Discount: $30,000
	Issue Date: July [___], 2020

 

Electromedical
Technologies, Inc. 

 

8% CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE RECEIVED,
pursuant to the terms and conditions of this 10% Convertible Promissory Note (this “Note”), Electromedical Technologies,
Inc., a Delaware corporation (the “Company”), hereby promises to pay to the order of JR-HD Enterprises III, LLC, a
Delaware limited liability company, or registered assigns (the “Holder”), on the first anniversary of the Issue Date
as set forth above or earlier as required pursuant to the Agreement, as defined below (as applicable, the “Maturity Date”),
the sum of $430,000 (the “Principal Amount”), and to pay interest on the outstanding Principal Amount at the rate of
eight percent (8%) per annum, simple interest, in each case to the extent that this Note and the Principal Amount and any accrued
interest hereunder (the “Indebtedness”) has not been converted into Conversion Shares (as defined below) prior to the
Maturity Date. Interest shall commence accruing on the date hereof (the “Issue Date”), computed on the basis of a 365-day
year and the actual number of days elapsed, and shall be payable as set forth herein.

 

This Note carries
an original issue discount of $30,000 (the “OID”), to cover the Holder’s accounting fees, due diligence fees,
monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Note, which is included in
the principal balance of this Note. Thus, the purchase price of this Note shall be $400,000, computed as follows: The Principal
Amount minus the OID.

 

This Note is entered
into pursuant to a Note Purchase Agreement by and between the Company and the Holder dated as of the Issue Date (the “Agreement”)
and is subject to the terms and conditions thereof.

 

This Note is not a
certificate of deposit or similar obligation of, and is not guaranteed or insured by, any depository institution, the Federal Deposit
Insurance Corporation, the Securities Holder Protection Corporation or any other governmental or private fund or entity.

 

The following terms shall apply to this Note:

 

Section 1.               
Definitions. Defined terms used herein without definition have the meanings given them in the Agreement.

 

     1

     

    

 

Section 2.               
Interest; Late Fees; Prepayment.

 

(a)              
To the extent not converted to Conversion Shares (as defined below) prior to the Maturity Date, the Principal Amount and accrued
and unpaid interest shall be due and payable in full on the Maturity Date. No payments of the Principal Amount or interest herein
shall be required prior to the Maturity Date.

 

(b)              
The Company may prepay all or any portion of the Principal Amount and any accrued and unpaid interest at any time subject to, and
with, a 20% prepayment cost being added to the amount of the Principal Amount and accrued and unpaid interest so prepaid at such
time.

 

(c)              
Interest on this Note shall accrue on a simple interest, non-compounded basis, and shall be added to the Principal Amount on the
Maturity Date or such earlier date as the Indebtedness may be paid hereunder or may be due hereunder pursuant to the terms herein,
at which time all Indebtedness shall be due and payable, unless earlier converted into Conversion Shares. In the event that any
amount due hereunder is not paid as and when due, such amounts shall accrue interest at the rate of 18% per year, simple interest,
non-compounding, until paid.

 

(d)              
Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made
on the next succeeding Business Day.

 

Section 3.               
Conversion.

 

(a)              
Conversion Right. Subject to the terms and conditions herein, the Holder shall have the right from time to time, and at
any time following the six month anniversary of the Issue Date and ending on the full repayment of all Indebtedness (the “Conversion
Period), to convert all or any part of the Indebtedness into fully paid and non-assessable shares of Common Stock, or any shares
of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified (as
applicable, the “Conversion Shares”) at the Conversion Price as defined and as the same may be adjusted pursuant to
Section 3(b) (a “Conversion”); provided, however, that in no event shall the Holder be entitled to convert any portion
of this Note in excess of that portion of this Note upon conversion of which the sum of (1) the number of shares of Common Stock
beneficially owned by the Holder and its affiliates (other than shares of Common Stock which may be deemed beneficially owned through
the ownership of the unconverted portion of the Note or the unexercised or unconverted portion of any other security of the Company
subject to a limitation on conversion or exercise analogous to the limitations contained herein) and (2) the number of shares of
Common Stock issuable upon the conversion of the portion of this Note with respect to which the determination of this proviso is
being made, would result in beneficial ownership by the Holder and its affiliates of more than 9.99% of the outstanding shares
of Common Stock. For purposes of the proviso to the immediately preceding sentence, beneficial ownership shall be determined in
accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Regulations
13D-G thereunder, except as otherwise provided in clause (1) of such proviso, provided, further, however, that the limitations
on conversion may be waived by the Holder upon, at the election of the Holder, not less than 61 days’ prior notice to the
Company, and the provisions of the conversion limitation shall continue to apply until such 61st day (or such later
date, as determined by the Holder, as may be specified in such notice of waiver). The number of Conversion Shares to be issued
upon each conversion of this Note shall be determined by dividing the Indebtedness 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 Company by the Holder in accordance with the provisions herein.

 

(b)              
Conversion Price; Adjustment.

 

		(i)	The conversion price (the “Conversion Price”) shall initially mean $0.50, provided
that such Conversion Price shall be subject to adjustment or revision as set forth herein.

 

     2

     

    

 

		(ii)	The Conversion Price, as the same may have already been adjusted, shall be subject to equitable
adjustments for stock splits, stock dividends or rights offerings by the Company relating to the Company’s securities or
the securities of any subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions
and similar events that occur on or after the Issue Date. By way of example and not limitation, in the event of forward split of
the Common Stock following such applicable time in which each share of Common Stock is converted into two shares of Common Stock,
the Conversion Price shall be reduced by 50%, and in the event of a reverse split of the Common Stock following such applicable
time in which each two shares of Common Stock are converted into one share of Common Stock, the Conversion Price shall be increased
by 100%.

 

(c)              
Mechanics of Conversion. Subject to the provisions of this Section 3, this Note may be converted by the Holder in whole
or in part at any time from time to time during the Conversion Period by (A) submitting to the Company a Notice of Conversion (by
facsimile, e-mail or other reasonable means of communication dispatched prior to 6:00 p.m., New York, New York time) and (B) subject
to Section 3(c), surrendering this Note at the principal office of the Company. The conversion shall be effective as of the date
of delivery of the Notice of Conversion by the time as set forth above (the “Conversion Date”), provided that if the
Notice of Conversion is not delivered by such time then the Conversion Date shall be the next Business Day and the Notice of Conversion
shall be deemed automatically updated accordingly.

 

(d)              
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 Company unless the
entire unpaid amount of Indebtedness is so converted. The Holder and the Company shall maintain records showing the amount of Indebtedness
so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Company,
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 Holder may not transfer this Note unless the Holder first
physically surrenders this Note to the Company, whereupon the Company 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 Indebtedness 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.

 

(e)              
Payment of Taxes. The Company shall not be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of Conversion Shares 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 Company shall not be required to issue or deliver any such Conversion 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 Company the amount
of any such tax or shall have established to the satisfaction of the Company that such tax has been paid.

 

     3

     

    

 

(f)               
Delivery of Common Stock Upon Conversion. Upon receipt by the Company from the Holder of the Notice of Conversion meeting
the requirements for conversion as provided in this Section 3, the Company shall issue and deliver or cause to be issued and delivered
to or upon the order of the Holder certificates for the Conversion Shares issuable upon such conversion within three (3) Business
Days after such receipt (and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this
Note) in accordance with the terms hereof and the Agreement. Upon receipt by the Company of a Notice of Conversion, 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 on this Note shall be reduced to reflect such conversion, and, unless the Company
defaults on its obligations under this Section 3, all rights with respect to the portion of this Note being so converted shall
forthwith terminate except the right to receive the Conversion Shares 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 Company’s obligation to
issue and deliver the certificates (subject to the provisions of Section 3(g)) for Conversion Shares 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 Company 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 Company, and irrespective of any other circumstance which
might otherwise limit such obligation of the Company to the Holder in connection with such conversion.

 

(g)              
Delivery of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Conversion
Shares issuable upon conversion, provided the Company is participating in the Depository Trust Company (“DTC”) Fast
Automated Securities Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions contained
in this Section 3, the Company shall use its reasonable efforts to cause its transfer agent to electronically transmit the Conversion
Shares issuable upon conversion to the Holder by crediting the account of Holder’s Prime Broker with DTC through its Deposit
Withdrawal Agent Commission (“DWAC”) system.

 

(h)              
Adjustment Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to full
conversion of this Note, there shall be any merger, consolidation, or an exchange of shares, recapitalization or reorganization
pursuant to a merger or consolidation, or other similar event, as a result of which shares of Common Stock of the Company shall
be changed into the same or a different number of shares of another class or classes of stock or securities of the Company or another
entity, or in case of any sale or conveyance of all or substantially all of the assets or more than 50% of the total outstanding
shares of the Company other than in connection with a plan of complete liquidation of the Company, 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 Conversion Shares 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.

 

(i)                
Status as Shareholder. Subject to the terms and conditions herein, upon submission of a Notice of Conversion by the Holder,
(i) this Note shall be deemed converted into Conversion Shares and (ii) the Holder’s rights as the holder of this Note shall
cease and terminate, excepting only the right to receive the Conversion Shares as set out herein and to any remedies provided herein
or otherwise available at law or in equity to such Holder because of a failure by the Company to comply with the terms of this
Note.

 

     4

     

    

 

Section 4.               
Events of Default.

 

(a)              
The Holder may elect to declare an “Event of Default” if any of the following conditions or events shall occur and
be continuing:

 

		(i)	the Company fails to pay the then-outstanding principal amount and accrued interest on this Note
on any date any such amounts become due and payable, and any such failure is not cured within three Business Days of written notice
thereof by Holder;

 

		(ii)	any representation or warranty of the Company is materially false or untrue when given;

 

		(iii)	the Company fails to comply in any material respect with any other covenant or agreement in this
Note or in the Agreement and any such failure is not cured within three Business Days of written notice thereof by Holder;

 

		(iv)	the Company fails to remain compliant with the Depository Trust Company (“DTC”), thus
incurring a “chilled” status with DTC;

 

		(v)	the Company fails to satisfy its filing or disclosure obligations under Securities Act, the Exchange
Act or the rules and guidelines issued by OTC Markets News Service, OTCMarkets.com and their affiliates;

 

		(vi)	any trading suspension imposed by the United States Securities and Exchange Commission under Section
12(j) of the Exchange Act or Section 12(k) of the Exchange Act;

 

		(vii)	the occurrence of any delisting of the Common Stock from the Primary Trading Market or suspension
of trading of the Common Stock on the Trading Market;

 

		(viii)	the Company fails remain in good standing under the laws of the State of Delaware;

 

		(ix)	the Company shall (i) apply for or consent to the appointment of, or the taking of possession by,
a receiver, custodian, trustee or liquidator; (ii) make a general assignment for the benefit of the Company’s creditors;
or (iii) commence a voluntary case under the U.S. Bankruptcy Code as now and hereafter in effect, or any successor statute; or

 

		(x)	a proceeding or case shall be commenced, without the application or consent of the Company, in
any court of competent jurisdiction, seeking (1) liquidation, reorganization or other relief with respect to it or its assets or
the composition or readjustment of its debts, or (2) the appointment of a trustee, receiver, custodian, liquidator or the
like of any substantial part of its assets, and, in each case, such proceedings or case shall continue undismissed, or an order,
judgment or decree approving or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period
of 60 days, if in the United States, or 90 days, if outside of the United States; or an order for relief against the Company shall
be entered in an involuntary case under any bankruptcy, insolvency, composition, readjustment of debt, liquidation of assets or
similar Law of any jurisdiction.

 

     5

     

    

 

(b)              
Consequences of Events of Default. If an Event of Default has occurred and is continuing (i) the Holder may, by notice to
the Company, declare all or any portion of the then outstanding principal amount of the Note, together with all accrued and unpaid
interest thereon, due and payable, and the Note shall thereupon become, immediately due and payable in cash and (ii) the Holder
shall have the right to pursue any other remedies that the Holder may have under applicable Law.

 

Section 5.               
Miscellaneous.

 

(a)              
Notices. Any and all notices or other communications or deliveries to be provided hereunder shall be given in accordance
with the provisions of the Agreement.

 

(b)              
Lost or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver,
in exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen
or destroyed Note, a new Note so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or
destruction of this Note, and of the ownership hereof reasonably satisfactory to the Company.

 

(c)              
Governing Law. This Note, and all matters based upon, arising out of or relating in any way to this Note, including all
disputes, claims or causes of action arising out of or relating to this Note as well as the interpretation, construction, performance
and enforcement of this Note, shall be governed by the laws of the United States and the State of Delaware, without regard to any
jurisdiction’s conflict-of-laws principles.

 

(d)              
Incorporation of Provisions. The provisions of Article VI of the Agreement (Miscellaneous) of the Agreement shall apply
to this Note as though fully set forth herein, provided that each reference therein to the “Agreement” shall be deemed
a reference to this Note. In the event of any conflict between the terms of the Agreement and the terms of this Note, the terms
of this Note shall control.

 

(e)              
Next Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such
payment shall be made on the next succeeding Business Day.

 

(f)               
Entire Agreement. This Note (including any recitals hereto) and the Agreement set forth the entire understanding of the
parties with respect to the subject matter hereof, and shall not be modified or affected by any offer, proposal, statement or representation,
oral or written, made by or for any party in connection with the negotiation of the terms hereof, and may be modified only by instruments
signed by the Company and the Holder.

 

(g)              
No Assignment by the Company. This Note may not be assigned by the Company to any Person without the prior written consent
of the Holder in its sole discretion.

 

(h)              
Currency. All dollar amounts are in U.S. dollars.

 

[SIGNATURE PAGE FOLLOWS]

 

     6

     

    

 

IN WITNESS WHEREOF, the undersigned
has executed this Note as of the Issue Date.

 

	 	Electromedical Technologies, Inc.

 

 

	 	By:	 
	 	Name:	Matthew Wolfson
	 	Title:	Chief Executive Officer

 

	Agreed and accepted:	 
	 	 
	JR-HD Enterprises III, LLC	 

 

	By:	 	 
	Name:	Jeff Ramson	 
	Title:	Manager	 

 

     7

     

    

 

EXHIBIT
A 

NOTICE
OF CONVERSION

 

The undersigned hereby
elects to convert the portion of the Indebtedness (as defined in the Note, as defined below) as set forth below pursuant to the
convertible promissory note (the “Note”) of Electromedical Technologies, Inc., a Delaware corporation (together with
any successor entity thereto, the “Company”) into that number of shares of Common Stock (as defined in the Note) to
be issued pursuant to the conversion of the Note and according to the conditions of the Note, as of the date written below.

 

The undersigned hereby
requests that the Company issue a certificate or certificates, or other permissible evidence of shares of Common Stock as set forth
in the Note, for the number of shares of Common Stock set forth below (which numbers are based on the Holder’s calculation
below and which shall be confirmed by, and subject to acceptance by, the Company) in the name(s) specified immediately below or,
if additional space is necessary, on an attachment hereto:

 

	Name:	
        JR-HD Enterprises III, LLC

         

	Address:	
        _____________________

        _____________________

        _____________________

        _____________________

         

	Date of Conversion:	____________________________
	
         

         

        Amount of Indebtedness to be converted:
	
         

         

        $____________________________

	
         

        Applicable Conversion Price:
	
         

        $_____________________________

	
         

        Number of shares of Common Stock to be Issued:
	
         

        ______________________________

        shares of Common Stock

 

	 	JR-HD Enterprises III, LLC

 

 

	 	By:	 
	 	Name:	Jeff Ramson
	 	Title:	Manager

 

     1Exhibit 10.40

 

NOTE PURCHASE AGREEMENT

BY AND AMONG

ELECTROMEDICAL TECHNOLOGIES, INC.

AND

 

JR-HD ENTERPRISES III, LLC

 

DATED AS OF AUGUST 4, 2020

 

NOTE PURCHASE AGREEMENT

 

This Note Purchase Agreement (together with all exhibits
hereto, this “Agreement”) is entered into as of August 4, 2020 (the “Closing Date”), by and among
Electromedical Technologies, Inc., a Delaware corporation (the “Company”) and JR-HD Enterprises III, LLC, a
Delaware limited liability company (“Buyer”). The Company and the Buyer may be collectively referred to herein as
the “Parties” and individually as a “Party”.

 

WHEREAS, the Company desires to issue and sell to the
Buyer a convertible promissory note in the aggregate principal amount of $215,000 and in the form as attached hereto as
Exhibit A (the “Note”) on the terms set forth herein and the Buyer wishes to purchase the Note on the terms and
conditions provided for herein;

 

NOW, THEREFORE, in consideration of the mutual covenants
and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties agree as follows:

 

Article I. DEFINITIONS

 

Section 1.01 Definitions. In addition to the terms defined
elsewhere in this Agreement, the following terms, as used herein, have the following meanings:

 

(a) “Affiliate” means, with respect to a
specified Person, any other Person that directly or indirectly Controls, is Controlled by or is under common Control with,
the specified Person.

 

(b) “Business Day” means any day except
Saturday, Sunday and any legal holiday or a day on which banking institutions in Delaware generally are authorized or
required by Law or other governmental actions to close.

 

(c) “Contract” means any contract, commitment,
understanding or agreement (whether oral or written).

 

(d) “Common Stock” mean shares of common stock,
par value $0.00001 per share, of the Company.

 

(e) “Control” means (a) the possession, directly
or indirectly, of the power to vote 10% or more of the securities or other equity interests of a Person having ordinary voting
power, (b) the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies
of a Person, by contractor otherwise, or (c) being a director, officer, executor, trustee or fiduciary (or their equivalents)
of a Person or a Person that controls such Person.

 

(f) “Governmental Entity” means any federal,
state, municipal, local or foreign government and any court, tribunal, arbitral body, administrative agency, department,
subdivision, entity, commission or other governmental, government appointed, quasi-governmental or regulatory authority,
reporting entity or agency, domestic, foreign or supranational.

 

    

     

    

 

(g) “Law” means any applicable foreign, federal,
state or local law (including common law), Statute, treaty, rule, directive, regulation, ordinances and similar provisions having
the force or effect of law or an Order of any Governmental Entity.

 

(h) “Liabilities” means liabilities, obligations
or responsibilities of any nature whatsoever, whether direct or indirect, matured or un-matured, fixed or unfixed, known or unknown,
asserted or un asserted, choate or inchoate, liquidated or unliquidated, secured or unsecured, absolute, contingent or otherwise,
including any direct or indirect indebtedness, guaranty, endorsement, claim, loss, damage, deficiency, cost or expense.

 

(i) “Lien” means, with respect to any property
or asset, any lien, security interest, mortgage, pledge, charge, claim, lease, agreement, right of first refusal, option,
limitation on transfer or use or assignment or licensing, restrictive casement, charge or any other restriction of any kind,
and any conditional sale or voting agreement or proxy, and including any restriction on the ownership, use, voting, transfer,
possession, receipt of income or other exercise of any attributes of ownership, in respect of such property or asset, and any
agreement to give any of the foregoing.

 

(j) “Losses” means any losses, damages, deficiencies,
Liabilities, assessments, fines, penalties, judgments, actions, claims, costs, disbursements, fees, expenses or settlements of
any kind or nature, including legal, accounting and other professional fees and expenses.

 

(k) “Order” means any judgment, writ, decree,
determination, award, compliance agreement, settlement agreement, injunction, ruling, charge, judicial or administrative
order, determination or other restriction of any Governmental Entity or arbitrator.

 

(1) “Person” means a natural person, a corporation,
a limited liability company, a partnership, an association, a trust or any other entity or organization, including a government
or political subdivision or any agency or instrumentality thereof.

 

(m) “Securities Act” means the United States Securities
Act of 1933, as amended, and the rules and regulation promulgated thereunder.

 

(n) “Transactions” means the purchase and sale
of the Note and the other transactions contemplated under the Transaction Documents.

 

(0) “Transaction Documents” means this
Agreement, the Note and any other agreement, document, certificate or writing delivered or to be delivered in connection with
this Agreement and any other document related to the Transactions related to the forgoing, including, without limitations,
those delivered at the Closing.

 

Section 1.02 Interpretive Provisions. Unless the express
context otherwise requires, the words “hereof,” “herein,” and “hereunder” and words of
similar import, when used in this Agreement,shall refer to this Agreement as a whole and not to any particular provision of
this Agreement;terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa; the
terms “Dollars” and “$” mean United States Dollars, unless otherwise specified herein; references
herein to a specific Section, Subsection, Recital or Exhibit shall refer, respectively, to Sections, Subsections, Recitals or
Exhibits of this Agreement; wherever the word “include,” “includes,” or “including” is
used in this Agreement, it shall be deemed to be followed by the words “without limitation”; references herein to
any gender shall include each other gender; references herein to any Person shall include such Person’s heirs,
executors, personal representatives, administrators, successors and assigns; provided, however, that nothing contained in
this Section 1.02 is intended to authorize any assignment or transfer not otherwise permitted by this Agreement; references
herein to a Person in a particular capacity or Capacities shall exclude such Person in any other capacity; references herein
to any contract or agreement (including this Agreement) mean such contract or agreement as amended, supplemented or modified
from time to time in accordance with the terms thereof; with respect to the determination of any period of time, the word
“from” means “from and including” and the words “to” and “until” each means
“to but excluding”; references herein to any Law or any license mean such Law or license as amended, modified,
codified, reenacted, supplemented or superseded in whole or in part, and in effect from time to time; and references herein
to any Law shall be deemed also to refer to all rules and regulations promulgated thereunder.

 

    

     

    

 

Article II. PURCHASE AND SALE

 

Section 2.01 Purchase and Sale. Subject to the terms and
conditions of this Agreement, at the Closing (as defined below), the Company shall issue and sell to Buyer a Note in the
aggregate principal amount of $215,000, for a purchase price of $200,000 (the “Purchase Price”), reflecting a
$15,000 original issue discount.

 

Section 2.02 Deliverables at Closing. At the Closing (as defined
below), Buyer shall deliver the Purchase Price to the Company via a check payable to the Company or wire transfer pursuant to
the wire transfer instructions as provided by the Company to Buyer, and the Company shall issue to Buyer the Note.

 

Section 2.03 Closing. On the terms set forth herein, the
closing of the Transactions (the “Closing”) shall take place by conference call and electronic communication
(i.e., emails/pdf) or facsimile, with exchange of original signatures to follow by mail, on the date hereof and effective as
of 11:59 p.m. Eastern time, on such date,

 

Section 2.04 Use of Proceeds. The Company covenants and agrees
that it shall utilize the Purchase Price to pay for auditing fees and other necessary costs to get the Company’s filings
with the Securities and Exchange Commission up to date and compliant, and to pay for legal, organizational and marketing costs
for a planned offering pursuant to Regulation A under the Securities Act.

 

Article Il. REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents and warrants to Buyer that the following
representations and warranties contained in this Article III are true and correct as of the Closing Date:

 

Section 3.01 Authorization of Transactions. The Company is
a corporation duly authorized and in good standing in the State of Delaware and has the requisite power and capacity to
execute and deliver the Transaction Documents to which it is a party and to perform its obligations hereunder and thereunder.
The execution, delivery and performance by the Company of the applicable Transaction Documents and the consummation of the
Transactions have been duly and validly authorized by all requisite action on the part of the Company. The Transaction
Documents to which the Company is a party have been duly and validly executed and delivered by The Company. Each Transaction
Document to which the Company is a party constitutes the valid and legally binding obligation of the Company, enforceable
against the Company in accordance with its terms and conditions, except to the extent enforcement thereof may be limited by
applicable bankruptcy, insolvency or other Laws affecting the enforcement of creditors’ rights or by the principles
governing the availability of equitable remedies.

 

Section 3.02 Governmental Approvals: Non-contravention.

 

(a) No consent, Order, action or non-action of, or filing,
notification, declaration or registration with, any Governmental Entity or Person is necessary for the execution, delivery or
performance by the Company of this Agreement or any other Transaction Document to which the Company is a party.

 

    

     

    

 

(b) The execution, delivery and performance by the Company
of the Transaction Documents to which the Company is a party, and the consummation by the Company of the Transactions, do not
(i) violate or conflict with any Law or Order to which the Company or the Note may be subject, (ii) constitute a violation or
breach of, be in conflict with, constitute or create (with or without due notice or lapse of time or both) a default (or give
rise to any right of termination, modification, cancellation or acceleration) of any obligation under any Contract to which
the Company is a party or to which the Company or the Note are subject or by which the Company’s properties, assets or
rights are bound or (iii) result in the creation or imposition of any Lien upon any of the rights, properties or assets of
the Company or on the Note.

 

Section 3.03 Brokers. The Company has not engaged, or
caused to be incurred any Liability or obligation to, any investment banker, finder, broker or sales agent or any other
Person in connection with the origin, negotiation, execution, delivery or performance of the Transaction Documents to which
it is a party, or the Transactions.

 

ArticleIV. REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer represents and warrants to the Company that the following
statements contained in this Article IV are true and correct as of the Closing Date:

 

Section 4.01 Authorization of Transactions. Buyer is a limited
liability company, duly qualified under the laws of the State of Delaware, and has the requisite power and capacity to execute
and deliver the Transaction Documents to which it is a party and to perform its obligations hereunder and thereunder. The execution,
delivery and performance by Buyer of the applicable Transaction Documents and the consummation of the Transactions have been duly
and validly authorized by all requisite action on the part of Buyer. The Transaction Documents to which Buyer is a party have
been duly and validly executed and delivered by Buyer. Each Transaction Document to which Buyer is a party constitutes the valid
and legally binding obligation of Buyer, enforceable against Buyer in accordance with its terms and conditions, except to the
extent enforcement thereof may be limited by applicable bankruptcy, insolvency or other Laws affecting the enforcement of creditors’
rights or by the principles governing the availability of equitable remedies.

 

Section 4.02 Governmental Approvals; Non-contravention.

 

(a) No consent, Order, action or non-action of, or filing,
notification, declaration or registration with, any Governmental Entity is necessary for the execution, delivery or performance
by Buyer of this Agreement or any other Transaction Document to which Buyer is a party.

 

(b) The execution, delivery and performance by Buyer of
the Transaction Documents to which Buyer is a party, and the consummation by Buyer of the Transactions, do not violate any
Laws or Orders to which Buyer is subject or violate, breach or conflict with any provision of Buyer’s organizational
documents.

 

Section 4.03 Investment Representations.

 

(a) Buyer understands and agrees that the consummation of
this Agreement including the delivery of the Note as contemplated hereby and the shares of Common Stock that may be issued to
Buyer pursuant to the Note (the “Shares” and, together with the Note, collectively, the “Securities”)
constitute the offer and sale of securities under the Securities Act and applicable state statutes and that the Securities
are being acquired for Buyer’s own account and not with a present view towards the public sale or distribution thereof,
except pursuant to sales registered or exempted from registration under the Securities Act.

 

    

     

    

 

(b) Buyer is an “accredited investor” as that term
is defined in Rule 501(a) of Regulation D under the Securities Act.

 

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

 

(d) At no time was Buyer presented with or solicited by
any leaflet, newspaper or magazine article, radio or television advertisement, or any other form of general advertising or
solicited or invited to attend a promotional meeting otherwise than in connection and concurrently with such communicated
offer. Buyer is not purchasing the Note acquired by Buyer hereunder as a result of any “general solicitation” or
“general advertising,” as such

terms are defined in Regulation D under the Securities Act,
which includes, but is not limited to, any advertisement, article, notice or other communication regarding the Note acquired by
Buyer hereunder published in any newspaper, magazine or similar media or on the internet or broadcast over television, radio or
the internet or presented at any seminar or any other general solicitation or general advertisement.

 

(e) Buyer is acquiring the Securities for its own account
as principal, not as a nominee or agent, for investment purposes only, and not with a view to, or for, resale, distribution
or fractionalization thereof in whole or in part and no other person has a direct or indirect beneficial interest in the
Securities. Further, Buyer does not have any contract, undertaking, agreement or arrangement with any person to sell,
transfer or grant participations to such person or to any third person, with respect to the Securities.

 

(f) Buyer, either alone or together with its representatives,
has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits
and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment.

 

(g) Buyer understands that no United States federal or
state agency or any other governmental or state agency has passed on or made recommendations or endorsement of the Securities
or the suitability of the investment in the Securities nor have such authorities passed upon or endorsed the merits of the
transactions set forth herein.

 

Section 4.04 Brokers. Buyer has not engaged any investment
banker, finder, broker or sales agent or any other Person in connection with the origin, negotiation, execution, delivery or
performance of any Transaction Document to which it is a party, or the Transactions.

 

Article V. INDEMNIFICATION

 

Section 5.01 General Indemnification. Each Party (the “Indemnifying
Party”) agrees to indemnify, defend and hold harmless the other Party and such other Party’s Affiliates and each of
their respective directors, officers, managers, partners, employees, agents, equity holders, Successors and assigns (each, an
“Indemnified Party”), from and against any and all Losses incurred or suffered by any Indemnified Party arising out
of, based upon or resulting from any breach of any representation or warranty of the Indemnifying Party herein or breach by the
Indemnifying Party of, or any failure the Indemnifying Party to perform, any of the covenants, agreements or obligations contained
in or made pursuant to this Agreement or the Transaction Documents by the Indemnifying Party.

 

    

     

    

 

Section 5.02 Procedures for Indemnification. In the event
that an Indemnified Party shall incur or suffer any Losses in respect of which indemnification may be sought under this
Article V against the Indemnifying Party, the Indemnified Party shall assert a claim for indemnification by providing a
written notice (the “Notice of Loss”) to the Indemnifying Party stating the nature and basis of such
indemnification. The Notice of Loss shall be provided to the Indemnifying Party as soon as practicable after the Indemnified
Party becomes aware that it has incurred or suffered a Loss.

 

Section 5.03 Payment. Upon a determination of liability
under this Article V the Indemnifying Party shall pay or cause to be paid to the Indemnified Party the amount so determined
within five (5) Business Days after the date of such determination. If there should be a dispute as to the amount or manner
of determination of any indemnity obligation owed under this Agreement, the Indemnifying Party shall nevertheless pay when
due such portion, if any, of the obligation that is not subject to dispute. Upon the payment in full of any amounts due under
this Article V with respect to any claim, the Indemnifying Party shall be subrogated to the rights of the Indemnified Party
against any Person with respect to the subject matter of such claim.

 

Section 5.04 Effect_of Knowledge on Indemnification. The
right to indemnification, reimbursement or other remedy based upon any representations, warranties, covenants and obligations
set forth in this Agreement shall not be affected by any investigation conducted with respect to, or any knowledge acquired
(or capable of being acquired) at any time, whether before or after the execution and delivery of this Agreement, with
respect to the accuracy or inaccuracy of or compliance with any such representation, warranty, covenant or obligation. The
waiver of any condition based upon the accuracy of any representation or warranty, or on the performance of or compliance
with any covenant or obligation, shall not affect the right to indemnification,reimbursement or other remedy based upon such
representations, warranties, covenants or obligations.

 

Article VI. MISCELLANEOUS

 

Section 6.01 Notices.

 

(a) Any notice or other communications required or
permitted hereunder shall be in writing and shall be sufficiently given if personally delivered to it or sent by email,
overnight courier or registered mail or certified mail, postage prepaid, addressed as follows:

 

if to the Company, to:

 

Electromedical Technologies, Inc.

Attn: Matthew Wolfson

 

16561 N. 92nd Street, Suite 101

Scottsdale, AZ 85260

 

Email: ceo@electromedtech.com

 

If to the Buyer, to:

 

JR-HD Enterprises III, LLC

 

Attn: Jeff Ramson

 

150 East 58th Street, 20th Floor

New York, NY 10155

 

Email: Jramson@pcgadvisory.com

 

    

     

    

 

With a copy, which shall not constitute notice, to:

 

Anthony L.G., PLLC

 

Attn: John Cacomanolis

 

625 N. Flagler Drive, Suite 600

 

West Palm Beach, FL 33401

 

Email: jcacomanolis@anthonypllc.com

 

(b) Any Party may change its address for notices hereunder
upon notice to each other Party in the manner for giving notices hereunder.

 

(c) Any notice hereunder shall be deemed to have been
given (i) upon receipt, if personally delivered, (ii) on the day after dispatch, if sent by overnight courier, (iii) upon
dispatch, if transmitted by email with return receipt requested and received and (iv) three (3) days after mailing, if sent
by registered or certified mail.

 

Section 6.02 Attorneys’ Fees. In the event that any
Party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach
hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including reasonable attorney’s
fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

 

Section 6.03 Amendments; No Waivers: No Third-Party Beneficiaries.

 

(a) This Agreement may be amended, modified, superseded,
terminated or cancelled, and any of the terms, covenants, representations, warranties or conditions hereof may be waived,
only by a written instrument executed by both of the Parties.

 

(b) Every right and remedy provided herein shall be cumulative
with every other right and remedy, whether conferred herein, at law, or in equity, and may be enforced concurrently herewith,
and no waiver by any Party of the performance of any obligation by another Party shall be construed as a waiver of the same or
any other default then, theretofore, or thereafter occurring or existing.

 

(c) Neither any failure or delay in exercising any right
or remedy hereunder or in requiring satisfaction of any condition herein nor any course of dealing shall constitute a waiver
of or prevent any Party from enforcing any right or remedy or from requiring satisfaction of any condition. No notice to or
demand on a Party waives or otherwise affects any obligation of that Party or impairs any right of the Party giving such
notice or making such demand, including any right to take any action without notice or demand not otherwise required by this
Agreement. No exercise of any right or remedy with respect to a breach of this Agreement shall preclude exercise of any other
right or remedy, as appropriate to make the aggrieved Party whole with respect to such breach, or subsequent exercise of any
right or remedy with respect to any other breach.

 

(d) Notwithstanding anything else contained herein, no Party
shall seek, nor shall any Party be liable for, consequential, punitive or exemplary damages, under any tort, contract, equity,
or other legal theory, with respect to any breach (or alleged breach) of this Agreement or any provision hereof or any matter
otherwise relating hereto or arising in connection herewith.

 

    

     

    

 

Section 6.04 Expenses. Unless otherwise contemplated or
stipulated by a Transaction Document, all costs and expenses incurred in connection with this Agreement shall be paid by the
Party incurring such cost or expense.

 

Section 6.05 Further Assurances. Following the Closing,
each Party shall execute and deliver such documents and other papers and take such further action as may be reasonably
required to carry out the provisions of the Transaction Documents.

 

Section 6.06 Successors and Assigns; Benefit. The
provisions of this Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors
and assigns. No Party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement
without the written consent of the other Party. Other than as specifically set forth herein, including in Article V, nothing
in this Agreement shall confer on any Person other than the Parties, and their respective successors and assigns, any rights,
remedies, obligations, or Liabilities under or by reason of this Agreement.

 

Section 6.07 Governing Law: Etc.

 

This Agreement, and all matters based upon, arising out of
or relating in any way to the Transactions or the Transaction Documents, including all disputes, claims or causes of action arising
out of or relating to the Transactions or the Transaction Documents as well as the interpretation, construction, performance and
enforcement of the Transaction Documents, shall be governed by the laws of the United States and the State of Delaware, without
regard to any jurisdiction’s conflict-of-laws principles.

 

SUBJECT TO Section 6.09, ANY LEGAL SUIT, ACTION OR PROCEEDING
ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE CONTEMPLATED TRANSACTIONS SHALL BE INSTITUTED
SOLELY IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA OR THE COURTS OF THE STATE OF NEW YORK, IN EACH CASE LOCATED IN NEW
YORK CITY, NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO THE PERSONAL JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR
PROCEEDING. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY
PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR
PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS, THE PERFORMANCE THEREOF OR THE FINANCINGS CONTEMPLATED THEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED
TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 6.07(c).

 

    

     

    

 

Each of the Parties acknowledge that each has been
represented in connection with the signing of this waiver by independent legal counsel selected by the respective Party and
that such Party has discussed the legal consequences and import of this waiver with legal counsel. Each of the Parties
further acknowledge that each has read and understands the meaning of this waiver and grants this waiver knowingly,
voluntarily, without duress and only after consideration of the consequences of this waiver with legal counsel.

 

Section 6.08 Survival. The representations and warranties
in this Agreement shall survive the Closing for a period of 12 months from the Closing Date, and no claim for indemnification
may be made after such time. All covenants and agreements in this Agreement will survive until fully performed; provided,
however, that, nothing herein shall prevent a Party from making any claim hereunder, or relieve any other Party from any
liability hereunder, after such time for any breach thereof.

 

Section 6.09 Resolution of Disputes. Except as otherwise provided
herein, all controversies, disputes or actions between the Parties arising out of the Transactions or this Agreement, including
their respective Affiliates, owners, officers, directors, agents and employees, arising from or relating to this Agreement shall
on demand of either party be submitted for arbitration to in accordance with the rules and regulations of the American Arbitration
Association. The arbitration shall be conducted by one arbitrator jointly selected by each Party who is a party to the Dispute,
provided, however, that if such Parties are unable to agree on the identity of the arbitrator within 10 Business Days of commencement
of efforts to do so, each Party who is a party to the Dispute shall select one arbitrator and the arbitrators so selected shall
select a final arbitrator, and the final arbitrator shall conduct the arbitration alone. The Parties agree that, in connection
with any such arbitration proceeding, each shall submit or file any claim which would constitute a compulsory counterclaim (as
defined by Rule 13 of the Federal Rules of Civil Procedures) within the same proceeding as the claim to which it relates. Any
such claim which is not submitted or filed in such proceeding shall be barred. The arbitrator shall be instructed to use every
reasonable effort to perform its services within seven days of request, and, in any case, as soon as practicable.The Parties agree
to be bound by the provisions of any limitation on the period of time by which claims must be brought under Delaware law or any
applicable federal law. The arbitrator(s) shall have the right to award the relief which he or she deems proper, consistent with
the terms of this Agreement, including compensatory damages (with interest on unpaid amounts from due date), injunctive relief,
specific performance, legal damages and costs. The award and decision of the arbitrator(s) shall be conclusive and binding on
all Parties, and judgment upon the award may be entered in any court of competent jurisdiction. Any right to contest the validity
or enforceability of this award shall be governed exclusively by the United States Arbitration Act. The arbitration shall be conducted
in New York City, New York. The provisions of this Section 6.09 shall continue in full force and effect subsequent to and notwithstanding
the expiration or termination of this Agreement.

 

Section 6.10 Severability. If any provision of this
Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and
provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of
the Transactions is not affected in any manner adverse to any Party. Upon such determination that any provision is invalid,
illegal or incapable of being enforced, the Parties shall

negotiate in good faith to modify this Agreement so as to effect
the original intent of the Parties as closely as possible in an acceptable manner to the end that the Transactions are fulfilled
to the extent possible.

 

    

     

    

 

Section 6.11 Entire Agreement. The Transaction Documents constitute
the entire agreement between the Parties with respect to the subject matter hereof and thereof and supersede all prior agreements
and understandings, both oral and written, between the Parties with respect to the subject matter hereof and thereof.

 

Section 6.12 Specific Performance. Each Party agrees that irreparable
damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that each Party
shall be entitled to seek specific performance of the terms hereof in addition to any other remedy at law or in equity.

 

Section 6.13 Construction. The table of contents and
headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or
interpretation of this Agreement. In the event of a conflict between language or amounts contained in the body of this
Agreement and language or amounts contained in the Exhibits attached hereto, the language or amounts in the body of the
Agreement shall control. References to Articles or Sections shall refer to those portions of this Agreement. The use of the
terms “hereunder,” “hereof,” “hereto” and words of similar import shall refer to this
Agreement as a whole and not to any particular Article, Section or clause of or Exhibit to this Agreement.

 

Section 6.14 Counterparts. This Agreement may be executed
in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective when
counterparts have been signed by each of the Parties and delivered to the other Parties, it being understood that each Party
need not sign the same counterpart. A facsimile copy or electronic transmission of a signature page shall be deemed to be an
original signature page.

 

[Signature page follows]

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to
be duly executed as

of the Closing Date.

 

Electromedical Technologies, Inc.

 

 

By: Matthew Wolfson

Name: Matthew Wolfson

Title: Chief Executive Officer

 

 

JR-HD Enterprises III, LLC

 

By: Jeff Ramson

Name: Jeff Ramson

Title: Manager

 

Exhibit A

Convertible Promissory Note

 

(Attached)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}]]