Document:

Exhibit 10.8

 

CONVERTIBLE
PROMISSORY NOTE

 Phoenix,
Arizona

	$1,800,000.00	August
    22, 2014

 

	1.	FUNDAMENTAL
    PROVISIONS.

 

The
following terms will be used as defined terms in this Convertible Promissory Note (as it may be amended, modified, extended and
renewed from time to time, the "Note"):

 

"Business
Day" shall mean any day of the year other than Saturdays, Sundays and legal holidays.

 

"Common
Stock" shall mean (a) the Debtor's common stock, $0.001 par value per share, and (b) any capital stock into which
such common stock shall have been changed or any share of capital resulting from a reclassification of such common stock.

 

"Creditor"
shall mean DOYLE KNUDSON, an individual and his authorized successors and permitted assigns.

 

"Debtor"
shall mean GAWK INCORPORATED, a Nevada corporation.

 

"Exchange
Act" shall mean the Securities and Exchange Act of 1934, as amended.

 

"Interest
Rate" shall mean a fixed rate of interest at all times equal to ten percent (10.0%) per annum.

 

"Default
Interest Rate" shall mean six percent (6%) per annum above the Interest Rate.

 

"Issuance
Date" shall mean August__, 2014. 

 

"Maturity
Date" shall mean August_, 2015.

 

"Principal"
shall mean the Settlement Amount, as reduced pursuant to the terms hereof pursuant to pre-payment, conversion or otherwise.

 

"Settlement"
shall mean the settlement between Creditor to Debtor in the Settlement Amount and evidenced by this Note.

 

"Settlement
Amount" shall mean One Million Eight Hundred Thousand and No/100 Dollars ($1,800,000.00).

 

"Settlement
Documents" shall mean the Note, Settlement Agreement and Limited Mutual Release.

 

2.
PROMISE TO PAY. For value received, Debtor promises to pay, in accordance with Paragraph 3(c) below,
to the order of Creditor, at 8923 North Martingale Road, Paradise Valley, AZ 85253, or at such other place as the holder hereof
may from time to time designate in writing, the Principal, together with accrued interest from the date hereof on the unpaid principal
balance at the Interest Rate.

 

    	

    	 

    

 

	3.	INTEREST;
    PAYMENTS.

 

(a)   
Absent an Event of Default hereunder or under any of the Settlement Documents, each advance made hereunder shall bear interest
at the Interest Rate in effect from time to time. Interest on this Note is computed on a 365/360 basis; that is, by applying
the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual
number of days the principal balance is outstanding. All interest payable under this Note is computed using this method. This
calculation method results in a higher effective interest rate than the numeric interest rate stated in this Note. By executing
below, Debtor hereby acknowledges and agrees to the calculation of the Interest Rate in accordance with a year of 360 days and
acknowledges that calculation of interest in accordance with this Paragraph will increase the Settlement's effective interest
rate above the stated Interest Rate and Default Interest Rate, as applicable.

 

(b)   
All payments of principal and interest due hereunder shall be made (i) without deduction of any present and future taxes, levies,
imposts, deductions, charges or withholdings, which amounts shall be paid by Debtor, and (ii) without any other set off. Debtor
will pay the amounts necessary such that the gross amount of the Principal and interest received by the holder hereof is not less
than that required by this Note.

 

(c)   
Debtor shall make one (I) payment of all unpaid Principal, accrued unpaid interest, and any other amounts due hereunder due and
payable on the Maturity Date. If any payment of Principal and interest to be made by Debtor hereunder shall become due on a day
which is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be
included in computing the interest in such payment.

 

	4.	PREPAYMENT.

 

(a)   
Debtor may prepay the Principal, in whole or in part, at any time without penalty or premium.

 

(b)   
In no event shall Debtor be entitled to reborrow any amounts prepaid.

 
 

 

	5.	LAWFUL MONEY.	Principal
    and interest are payable in lawful money of the United States of America.

 

	6.	APPLICATION
    OF PAYM ENTS/LATE CHARGE.

 

(a)   
Absent the occurrence of an Event of Default hereunder or under any of the other Settlement
Documents, any payments received by the holder hereof pursuant to the terms hereof shall be applied first to the payment of all
interest accrued to the date of such payment, next to Principal, and the balance, if any, to the payment of sums, other than Principal
and interest, due the holder hereof pursuant to the Settlement Documents. Any payments received by the holder hereof after the
occurrence of an Event of Default hereunder or under any of the Settlement Documents, shall be applied
to the amounts specified in this Paragraph 6(a) in such order as the holder hereof may, in its sole discretion,
elect.  

 

    	-2-

    	 

    

 

(b)   
If any payment of interest and/or Principal is not received by the holder hereof when such payment is due, then in addition to
the remedies conferred upon the holder hereof pursuant to Paragraph 11 hereof and the other Settlement Documents,
(i) a late charge of five percent (5%) of the amount of the installment due and unpaid or $10.00, whichever is greater, will be
added to the delinquent amount to compensate the holder hereof for the expense of handling the delinquency for any payment past
due in excess of ten (10) days, regardless of any notice and cure periods, and (ii) the amount due and unpaid (including, without
limitation, the late charge) shall bear interest at the Default Interest Rate, computed from the date on which the amount was
due and payable until paid.

 

	7.	CONVERSION.	This
    Note shall be convertible into validly issued, fully paid and non-assessable shares of Common Stock, on the terms and conditions
    set forth in this Paragraph 7.

 

(a)   
Conversion Right. Subject to the provisions of Paragraph 7(d), at any time or times on or after the Issuance
Date and until the Maturity Date, or thereafter during an Event of Default, the Creditor shall be entitled to convert all or any
portion of the outstanding and unpaid Principal, accrued interest and fees due and payable thereon into validly issued, fully
paid and non-assessable shares of Common Stock in accordance with Paragraph 7(c), at the Conversion Rate (as defined
below). The shares of Common Stock to be issued upon any such conversion are herein referred to as the "Conversion
Shares". The Conversion Shares shall bear a restrictive legend; provided, however, that all Conversion Shares shall
be subject to the legend removal requirements set forth in the Settlement Agreement. The Company shall not issue any fraction
of a share of Common Stock upon any conversion. If the issuance would result in the issuance of a fraction of a share of Common
Stock, the Company shall round such fraction of a share of Common Stock up to the nearest whole share. The Company shall pay any
and all transfer, stamp, issuance and similar taxes that may be payable with respect to the issuance and delivery of Conversion
Shares.

 

(b)   
Conversion Rate. The number of shares of Common Stock issuable upon conversion of any Conversion Amount pursuant to Paragraph
7(a) shall be determined by dividing (x) such Conversion Amount by (y) the Conversion Price (the "Conversion
Rate").

 

(i)   
"Conversion Amount" means the portion of the Principal to be converted, plus all accrued and unpaid interest
with respect to such portion of the Principal amount and accrued and unpaid late charges with respect to such portion of such
Principal and interest.

 

(ii)   
"Conversion Price" means Ten Cents ($0.10) per share.

 

    	-3-

    	 

    

 

(c)   
Mechanics of Conversion. Subject to Paragraph 7(d), this Note will be converted
by Creditor in part from time to time after the Issuance Date by submitting to Debtor and/or the transfer agent of record a notice
of conversion ("Notice of Conversion") (whether by facsimile, as a pdf. file sent by electronic mail or
other reasonable means of communication dispatched on the Conversion Date prior to 6:00 p.m., New York, New York time). On each
Conversion Date (as hereinafter defined) and in accordance with its Notice of Conversion,
Creditor shall make the appropriate reduction to the Principal Amount, accrued interest and fees as entered in its records and
shall provide written notice thereof to Debtor on the Conversion Date. Each date on which a Notice of Conversion is delivered
or telecopied in accordance with the provisions hereof shall be deemed a Conversion Date (the "Conversion Date").
A form of Notice of Conversion to be employed by Creditor is annexed hereto as Exhibit A. Pursuant to the terms
of the Notice of Conversion, Debtor shall issue instructions to the transfer agent within two (2) Business Days from the receipt
of the Notice of Conversion and shall cause the transfer agent to transmit the certificates representing the Conversion Shares
to Creditor by physical delivery or crediting the account of Creditor's designated broker with the Depository Trust Corporation
("DTC") through its Deposit Withdrawal Agent Commission ("DWAC") system within two (2) Business
Days after receipt by Debtor of the Notice of Conversion ("Delivery Date"). Except as limited by Paragraph
7(d), in the case of the exercise of the conversion rights set forth herein, (i) the conversion privilege shall be deemed
to have been exercised and the Conversion Shares issuable upon such conversion shall be deemed to have been issued, upon the date
of receipt by Debtor of the Notice of Conversion; and (ii) Creditor shall be treated for all purposes as the record holder of
such Common Stock unless Creditor provides Debtor written instructions to the contrary.

 

(d)   
Limitations on Conversion. Notwithstanding anything contained herein to the contrary, the number of Conversion Shares that
may be acquired by Creditor upon conversion of this Note (or otherwise in respect hereof) shall be limited to the extent necessary
to ensure that, following such conversion (or other issuance), the total number of shares of Common Stock then beneficially owned
by Creditor and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with Creditor's
for purposes of Section 13(d) of the Exchange Act, does not exceed 4.99% of the total number of issued and outstanding shares
of Common Stock (including for such purpose the shares of Common Stock issuable upon such conversion). For such purposes, beneficial
ownership shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
By written notice to the Company, Creditor may increase, decrease or waive the provisions of this Paragraph 7(d)
as to itself but any such waiver will not be effective until the 61st day after delivery thereof.

 

(e)   
Late Payments. Debtor understands
that a delay caused by Debtor in the delivery of the shares of Common Stock in the form required pursuant to this Paragraph
7 beyond the Delivery Date could result in economic loss to Creditor. As compensation to Creditor for such loss, Debtor
agrees to pay late fees to Creditor for late issuances of such shares in the form required pursuant to this Paragraph 7
upon conversion of the Note in an amount equal to One Thousand Dollars ($1,000) per Business Day after the Delivery Date.
Debtor shall pay any fees incurred under this Paragraph in immediately available funds upon demand and such fees also shall be
eligible to be converted into Conversion Shares as set forth in this Paragraph 7.

 

(f)   
Authorized and Reserved Shares. Debtor represents, warrants,
covenants and agrees that upon issuance, the Conversion Shares will be duly and validly issued, fully paid and non-assessable.
At all times during which this Note is outstanding, Debtor shall reserve from its authorized and unissued shares of Common Stock
a sufficient number of shares to provide for the issuance of the Conversion Shares. If, notwithstanding the foregoing, and not
in limitation thereof, at any time while this Note is outstanding Debtor does not have a sufficient
number of authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance of the Conversion
Shares, then Debtor shall immediately take all action necessary to increase Debtor's authorized shares of Common Stock to an amount
sufficient to allow Debtor to reserve a sufficient number of shares to provide for the issuance of the Conversion Shares. Debtor
agrees that it will take all such reasonable actions as may be necessary to assure that the Conversion Shares may be issued as
provided herein without violation of any applicable law or regulation, or of any requirements of the applicable trading market
upon which the Common Stock may be listed. Debtor agrees to reserve [eighteen million (18,000,000)] shares of Common Stock from
its authorized and unissued shares within three (3) Business Days from the Issuance Date. Further Debtor agrees to provide Creditor
with confirmation evidencing the execution of the share reservation within three (3) Business Days from the Issuance Date.

 

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(g)   
Effect of Certain Events.

 

(i)   
Effect of Merger, Consolidation, Etc. At the option of Creditor, the sale, conveyance or disposition of all or substantially
all of the assets of Debtor, the effectuation by Debtor of a transaction or series of related transactions in which more than
50% of the voting power of Debtor is disposed of, or the consolidation, merger or other business combination of Debtor with or
into any other Person (as defined below) or Persons when Debtor is not the survivor shall either: (i) be deemed to be an Event
of Default (as defined in Paragraph 9) pursuant to which Debtor shall be required to pay to Creditor upon the consummation
of and as a condition to such transaction an amount equal to the entire balance of Principal hereof, together with all accrued
interest thereon (including Default Interest, if any), late payments (as applicable), and all other amounts due under the Settlement
Agreement, or (ii) be treated pursuant to Paragraph 7(g)(ii) hereof. "Person" shall mean any individual,
corporation, limited liability company, partnership, association, trust or other entity or organization.

 

(ii)   
Adjustment Due to Merger, Consolidation.
Etc. If, at any time when this Note is issued, there shall be any merger, consolidation, exchange of shares, recapitalization,
reorganization, or other similar event, as a result of which shares of Common Stock of Debtor shall be changed into the same or
a different number of shares of another class or classes of stock or securities of Debtor or another entity, or in case of any
sale or conveyance of all or substantially all of the assets of Debtor other than in connection with a plan of complete liquidation
of Debtor, then Creditor shall thereafter have the right to receive upon conversion of this Note, upon the basis and upon the
terms and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion,
such stock, securities or assets which Creditor 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 Creditor 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. Debtor shall not affect any transaction described in this Paragraph
7(g)(ii) unless (a) it first gives, to the extent practicable, thirty (30) days prior written notice (but in any event
at least fifteen (15) days prior written notice) of the record date of the special meeting of shareholders to approve, or if there
is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization
or other similar event or sale of assets (during which time Creditor shall be entitled to convert this Note) and (b) the resulting
successor or acquiring entity (if not Debtor) assumes by written instrument the obligations of this Paragraph 7(g)(ii).
The above provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

    	-5-

    	 

    

 

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

 

(iv)   
Notice of Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price as a result of the
events described in this Paragraph 7, Debtor, at its expense, shall promptly compute such adjustment or readjustment
and prepare and furnish to Creditor a certificate setting forth such adjustment or readjustment and showing in detail the facts
upon which such adjustment or readjustment is based. Debtor shall, upon the written request at the time of Creditor, furnish to
Creditor a like certificate setting forth (i) such adjustment or readjustment, (ii) the Conversion Price at the time in effect
and (iii) the number of shares of Common Stock and the amount, if any, of other securities or property which at the time would
be received upon conversion of the Note.

 

	8.	COVENANTS.

 

(a)   
Distributions on Capital Stock. So long as Debtor shall have any obligation under this Note, Debtor shall not without Creditor's
written consent (a) pay, declare or set apart for such payment, any dividend or other distribution (whether in cash, property
or other securities) on shares of capital stock other than dividends on shares of Common Stock solely in the form of additional
shares of Common Stock or (b) directly or indirectly or through any subsidiary make any other payment or distribution in respect
of its capital stock.

 

(b)   
Restriction on Stock Repurchases. So long as Debtor shall have any obligation under this Note, Debtor shall not without
Creditor's written consent redeem, repurchase or otherwise acquire (whether for case or in exchange for property or other securities
or otherwise) in any one transaction or series of related transactions any shares of capital stock of Debtor or any warrants,
rights or options to purchase or acquire any such shares.

 

    	-6-

    	 

    

 

(c)   
Advances and Loans. So long as Debtor shall have any obligation under this Note, Debtor shall not, without Creditor's written
consent, lend money, give credit or made advances to any person, firm, joint venture or corporation, including, without limitation,
officers, directors, employees, subsidiaries and affiliates of Debtor, except loans, credits or advances (a) in existence or committed
on the date hereof and which Debtor has informed Creditor in writing prior to the date hereof, (b) made in the ordinary course
of business or (c) not in excess of $100,000.

 

(d)   
Series C Preferred Stock. So long
as Debtor shall have any obligation under this Note, Debtor shall not, without Creditor's written consent (i) alter or change
the rights, preferences or privileges of the shares of Series C Preferred Stock of Debtor so as to effect adversely the shares.

 

	9.	EVENT
    OF DEFAULT. The occurrence of any of the following shall be deemed to be an event of default ("Event of Default")
    hereunder:

 

(a)    
Payment Default. Default in the payment of principal or interest when due pursuant to the terms hereof.

 

(b)   
Other Defaults. Debtor fails to comply with or to perform any other term, obligation, covenant or condition contained in
this Note or in any of the Settlement Documents or to comply with or to perform any term, obligation, covenant or condition contained
in any other agreement between Creditor and Debtor.

 

(c)    
SEC Filings. Debtor ff the Exchange Act or (ii) satisfy the requirements for "Reporting Issuers" pursuant to
Section 144, and/or Debtor ceases to be subject to the reporting requirements of the Exchange Act.

 

(d)    
DTC Eligibility. Debtor shall lose its status as "DTC Eligible" or Debtor's shareholders shall lose the ability
to deposit (either electronically or by physical certificates, or otherwise) shares into the DTC System through a "deposit
chill" or otherwise.

 

(e)    
Default in Favor of Third Parties. Debtor defaults under any loan, extension of credit,
security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially
affect any of Debtor's property or Debtor's ability to repay the Settlement or perform its obligations under this Note or any
of the Settlement Documents.

 

(f)   
 False Statements. Any warranty, representation or statement made or furnished to Creditor by Debtor or on Debtor's
behalf under this Note or the Settlement Documents is false or misleading in any material respect, either now or at the time made
or furnished or becomes false or misleading at any time thereafter.

 

(g)    
Dissolution or Insolvency. The dissolution of Debtor (regardless of whether election to continue is made), the insolvency
of Debtor, the appointment of a receiver for any part of Debtor's property, any assignment for the benefit of creditors, any type
of creditor the commencement of any proceeding under any bankruptcy or insolvency laws by or against Debtor.

 

    	-7-

    	 

    

 

(h)   
 Certain Events. Subject to Creditor's option, as provided in Paragraph 8(g)(i), the occurrence of any
of the events set forth in Paragraph 8(g)(i).

 

(i)   
  Adverse Change. A material adverse change occurs in Debtor's financial condition.

 

(j)      Other
Settlement Documents. The occurrence of an event of default under any of the other Settlement Documents.

 

10.          REMEDIES.
Upon the occurrence of an Event of Default, then at the option of the holder hereof, the entire balance of principal together
with all accrued interest thereon, and all other amounts payable by Debtor under the Settlement Documents shall, without demand
or notice, immediately become due and payable. Upon the occurrence of an Event of Default (and so long as such Event of Default
shall continue), the entire balance of Principal hereof, together with all accrued interest thereon, all other amounts due under
the Settlement Documents, and any judgment for such Principal, interest, and other amounts shall bear interest at the Default
Interest Rate, subject to the limitations contained in Paragraph 18 hereof, until paid in full by Debtor or converted
at the option of the holder of the Note. No delay or omission on the part of the holder hereof in exercising any right under this
Note or under any of the other Settlement Documents hereof shall operate as a waiver of such right. Creditor maintains all rights
of conversion set forth in Paragraph 8 after an Event of Default and during any period in which the Debtor is in
default of the terms of this Note.

 

11.          WAIVER.
Debtor, endorsers, guarantors, and sureties of this Note hereby waive diligence, demand for payment, presentment for payment,
protest, notice of nonpayment, notice of protest, notice of intent to accelerate, notice of acceleration, notice of dishonor,
and notice of nonpayment, and all other notices or demands of any kind (except notices specifically provided for in the Settlement
Documents) and expressly agree that, without in any way affecting the liability of Debtor, endorsers, guarantors, or sureties,
the holder hereof may extend any maturity date or the time for payment of any installment due hereunder, otherwise modify the
Settlement Documents, accept additional security, release any person liable, and release any security or guaranty. Debtor, endorsers,
guarantors, and sureties waive, to the full extent permitted by law, the right to plead any and all statutes of limitations as
a defense.

 

12.          CHANGE,
DISCHARGE, TERMINATION, OR WAIVER. No provision of this Note may be changed,
discharged, terminated, or waived except in a writing signed by the party against whom enforcement of the change, discharge, termination,
or waiver is sought. No failure on the part of the holder hereof to exercise and no delay by the holder hereof in exercising any
right or remedy under this Note or under the law shall operate as a waiver thereof.

 

    	-8-

    	 

    

 

 

13.           NON-CIRCUMVENTION.
 Debtor hereby covenants and agrees that Debtor will not, by amendment of
its Articles of Incorporation, Certificates of Designation, Bylaws or through any reorganization, transfer of assets, consolidation,
merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid
the observance or performance of any of the terms of this Note, and will at all times in good faith carry out all of the provisions
of this Note and take all action as may be required to protect the rights of the holder of this Note. Without limiting the generality
of the foregoing, Debtor (i) shall not inordase the par value of any shares of Common Stock receivable upon conversion of this
Note above the Conversion Price then in effect, (ii) shall take all such actions as may be necessary or appropriate in order that
Debtor may validly and legally issue fully paid and nonassessable shares of Common Stock upon the conversion of this Note, and
(iii) shall, so long as any of the Notes are outstanding, take all action necessary to reserve and keep available out of its authorized
and unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Notes, the maximum number of shares
of Common Stock as shall from time to time be necessary to effect the conversion of the Notes then outstanding (without regard
to any limitations on conversion).

 

14.           REISSUANCE
OF THIS NOTE.

 

(a)    
At Conversion. Following conversion of any portion of this Note in accordance with the terms hereof, Creditor shall not
be required to physically surrender this Note to Debtor unless (A) the full Conversion Amount represented by this Note is being
converted (in which event this Note shall be delivered to Debtor following conversion thereof or (B) Creditor has provided
Debtor with prior written notice (which notice may be included in a Conversion Notice) requesting reissuance of this Note upon
physical surrender of this Note. Creditor and Debtor shall maintain records showing the Principal, interest and late charges converted
and/or paid and/or adjusted (as the case may be) and the dates of such conversions and/or payments and/or adjustments (as the
case may be) or shall use such other method, reasonably satisfactory to Creditor and Debtor, so as not to require physical surrender
of this Note upon conversion.

 

(b)    
Transfer. This note is not transferable without
written consent from the debtor.

 

(c)    
Lost, Stolen or Mutilated Note. Upon receipt by Debtor
of evidence reasonably satisfactory to Debtor of the loss, theft, destruction or mutilation of this Note (as to which a written
certification and the indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or destruction,
of any indemnification undertaking by Creditor to Debtor in customary and reasonable form and, in the case of mutilation, upon
surrender and cancellation of this Note, Debtor shall execute and deliver to Creditor a new Note (in accordance with Paragraph
14(e)) representing the outstanding Principal.

 

(d)   
Note Exchangeable for Different Denominations. This Note
is exchangeable, upon the surrender hereof by Creditor at the principal office of Debtor, for a new Note or Notes (in accordance
with Paragraph 14(e) and in principal amounts of at least $1,000) representing in the aggregate the outstanding
Principal of this Note, and each such new Note will represent such portion of such outstanding Principal as is designated by Creditor
at the time of such surrender.

 

(e)    
Issuance of New Notes. Whenever Debtor is required to issue a new Note pursuant to the terms of this Note, such new Note
(i) shall be of like tenor with this Note, (ii) shall represent, as indicated on the face of such new Note, the Principal remaining
outstanding (or in the case of a new Note being issued pursuant to Paragraph 14(b) or Paragraph 14(d),
the Principal designated by Creditor which,
when added to the principal represented by the other new Notes issued in connection with such issuance, does not exceed the Principal
remaining outstanding under this Note immediately prior to such issuance of new Notes), (iii) shall have an issuance date, as
indicated on the face of such new Note, which is the same as the Issuance Date of this Note, (iv) shall have the same rights and
conditions as this Note, and (v) shall represent accrued and unpaid interest and late charges on the Principal and interest of
this Note, from the Issuance Date.

 

    	-9-

    	 

    

 

15.ATTORNEYS'
FEES. If this Note is not paid when due or if any Event of Default occurs, Debtor promises to pay all costs of enforcement
and collection and preparation therefor, including but not limited to, reasonable attorneys' fees, whether or not any action or
proceeding is brought to enforce the provisions hereof (including, without limitation, all such costs incurred in connection with
any bankruptcy, receivership, or other court proceedings (whether at the trial or appellate level)).

 

16.SEVERABILITY.
If any provision of this Note is unenforceable, the enforceability of the other provisions shall not be affected and they
shall remain in full force and effect.

 

17.INTEREST
RATE LIMITATION. Debtor hereby agrees to pay an effective rate of interest that is the sum of the interest rate provided
for herein, together with any additional rate of interest resulting from any other charges of interest or in the nature
of interest paid or to be paid in connection with the Settlement, including, without limitation, and any fees to be paid by Debtor
pursuant to the provisions of the Settlement Documents. Creditor and Debtor agree that none of the terms and provisions contained
herein or in any of the Settlement Documents shall be construed to create a contract for the use, forbearance pr detention of
money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the
State of Arizona. In such event, if any holder of this Note shall collect monies which are deemed to constitute interest which
would otherwise increase the effective interest rate on this Note to a rate in excess of the maximum rate permitted to be charged
by the laws of the State of Arizona, all such sums deemed to constitute interest in excess of such maximum rate shall, at the
option of the holder, be credited to the payment of other amounts payable under the Settlement Documents or returned to Debtor.

 

18.NUMBER
AND GENDER. In this Note the singular shall include the plural and the masculine shall include the feminine and neuter
gender, and vice versa.

 

19.HEADINGS.
Headings at the beginning of each numbered section of this Note are intended solely for convenience and are not part of
this Note.

 

20.DISHONORED
ITEM FEE. A fee may be assessed if a payment by check or preauthorized charge is later dishonored.

 

21.INTEGRATION.
The Settlement Documents contain the complete understanding and agreement of the holder hereof and Debtor and supersede
all prior representations, warranties, agreements, arrangements, understandings, and negotiations.

 

    	-10-

    	 

    

 

22.
BINDING EFFECT. The Settlement Documents will be binding upon, and inure to the benefit of, the holder hereof, Debtor,
and their respective successors and assigns. Debtor may not delegate its obligations under the Settlement Documents.

 

23.TIME
OF THE ESSENCE. Time is of the essence with regard to each provision of the Settlement Documents as to which time is a
factor.

 

24.SURVIVAL.
The representations, warranties, and covenants of the Debtor in the Settlement Documents shall survive the execution and
delivery of the Settlement Documents and the making of the Settlement.

 

25.CHOICE
OF LAW. THIS NOTE HAS BEEN DELIVERED IN ARIZONA, AND SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF ARIZONA. THE COURTS OF ARIZONA, FEDERAL OR STATE, SHALL HAVE JURISDICTION
OF ALL LEGAL ACTIONS ARISING OUT OF THIS NOTE. BY EXECUTING THIS NOTE, THE UNDERSIGNED SUBMITS TO THE JURISDICTION OF THE FEDERAL
AND STATE COURTS OF ARIZONA.

 

26.NOTICES.
Any notice, demand, request or other communication that any party hereto may be required or may desire to give hereunder
shall be deemed to have been properly given (a) if hand delivered, when delivered; (b) if mailed by United States Certified Mail
(postage prepaid, return receipt requested), three Business Days after mailing; (c) if by Federal Express or other reliable overnight
courier service, on the next Business Day after delivered to such courier service; or (d) if by confirmed facsimile or e-mail
transmission on the day of transmission so long as copy is sent on the same day by overnight courier as set forth below: 

 

	Creditor:	Doyle Knudson

	 	8923 North Martingale Road
	 	Paradise Valley, AZ 85253
	 	Email: dkrk74@gmail.com
	 	 
	With a copy to:	Snell & Wilmer L.L.P.

	 	One Arizona Center
	 	400 East Van Buren
	 	Phoenix, Arizona 85004-2202
	 	Attention: Brian Foster, Esq.
	 	Telephone: (602) 382-6242
	 	Email: bfoster@swlaw.com 
	 	 
	Debtor:	Gawk Incorporated
	 	______________________
	 	______________________
	 	_____________________
	 	
Attention: Scott Kettle
	 	Email: sk@gawkinc.com

 

 

	With a copy to:	__________________________
	 	___________________________
	 	__________________________
	 	__________________________
	 	Attention : Jim Langanke, ESq.
	 	Telephone : _________________
	 	Email :______________________

 

[Signature
Page Follows]

 

    	-11-

    	 

    

 

IN
WITNESS WHEREOF, Debtor has executed this Note as of the date first written above.

 

	 	GAWK INCORPORATED,
    a Nevada corporation
	 	 
	 	By:
    /s/Scott Kettle
	 	 
	 	Name:
    Scott Kettle
	 	 
	 	Title:
    CEO
	 	 
	 	“DEBTOR”

 

    	12

    	 

    

 

EXHIBIT
A

 

GAWK
INCORPORATED 

CONVERSION NOTICE

 

Reference
is made to the Convertible Promissory Note (the "Note") issued to the undersigned by Gawk Incorporated (the "Company").
In accordance with and pursuant to the Note, the undersigned hereby elects to convert the Conversion Amount (as defined in
the Note) of the Note indicated below into shares of Common Stock, $0.001 par value per share (the "Common Stock"),
of the Company, as of the date specified below. Capitalized terms not defined herein shall have the meaning as set forth in
the Note.

  

	Date
    of Conversion:	 	 
	 	 	 
	Aggregate Principal to be
    converted:	 	 
	 	 	 
	 Aggregate
                                                 accrued and unpaid interest and accrued and unpaid late charges with respect
                                                 to such portion of the Aggregate Principal and such aggregate interest to be
                                                 converted:

	 	 
	 	 	 
	AGGREGATE CONVERSION AMOUNT
    TO BE CONVERTED:	 	 
	 	 	 
	Please confirm the following
    information: Conversion price:	 	 
	 	 	 
	Number of shares of Common
    Stock to be issued:	 	 

 

Please
issue the Common Stock into which the Note is being converted in the following name and to the following address:

 

 

	Issue to:	 
	 	 
	 	 
	 	 
	Facsimile Number:	 
	 	 
	Holder:	 	 
	 	By:	 
	 	 

Title:

	 
	 	 	 
	Account Number:

    (if electronic book entry transfer)	 
	 	 
	 Transaction Code Number:

    (if electronic book entry transfer)	 

    

    	 

    	 

    

 

ACKNOWLEDGMENT

 

The
Company hereby acknowledges this Conversion Notice and hereby directs _________ to issue the above indicated number of shares
of Common Stock in accordance with the Transfer Agent Instructions dated ________ , 20_ from the Company and acknowledged and
agreed to by________.

 

	 	GAWK INCORPORATED
	 	 	 
	 	By:  	 
	 	 	Name:
	 	 	Title:

 

    	13

    	 

    

 

EXHIBIT
B

 

    	14

    	 

    

 

EXHIBIT
B

 

AMENDMENT
TO SERIES C PREFERRED STOCK PURCHASE AGREEMENT

 

The
Series C Preferred Stock Purchase Agreement (the "Agreement") made as of the 10th day of April, 2014 by and between
GAWK INCORPORATED, a Nevada corporation (the " Company "), and Doyle Knudson, an individual residing at 8923 N. Martingale
Road, Paradise Valley, AZ 85253 (the " Purchaser ") is hereby amended pursuant to Section 7.9 of the Agreement as to
Section 1.1 as follows:.

 

1.          Purchase,
Sale and Conversion of Preferred Stock.

 

1.1        Sale
and Issuance and Conversion of Series C Preferred Stock. Subject to the terms and conditions
of this Agreement, the Purchaser agrees to purchase at the Closing and the Company agrees to sell and issue to the Purchaser at
the Closing seven (7) shares of Series C Preferred Stock at a purchase price of $471,428.57 per share with an aggregate purchase
price of $3,300,000. The shares of Series C Preferred Stock issued to the Purchaser pursuant to this Agreement shall be hereinafter
referred to as the " Stock, " which shall be convertible, at the option of the holder thereof after the execution of
a certain Settlement Agreement between the parties, into such number of fully paid and non-assessable shares of the Common Stock.
For each share of Series C Stock, the holder will receive upon Conversion, $1,000,000 worth of Common Shares (the "Conversion
Ratio") of the Corporation.

 

The
parties have executed this amendment to the Series C Preferred Stock Purchase Agreement on this_______ day of August, 2014. 

 

	Company	 	Purchaser
	 	 	 	 
	Gawk Incorporated	 	Doyle Knudson
	 	 	 	 
	By  	/s/ Scott Kettle 	 	/s/ Donyle
    Knudson
	 	Scott Kettle, President

    and on behalf of the 

    Board of Directors	 	Donyle Knudson
	 		 		 

 

    	15

    	 

    

 

 

 

 

EXHIBIT
C 

 

 

 

 

 

 

 

 

 

    	 

    	 

    

 

CERTIFICATE
OF DESIGNATION OF RIGHTS, PRIVILEGES, PREFERENCES AND 

RESTRICTIONS OF SERIES C CONVERTIBLE PREFERRED STOCK

 OF
GAWK, INCORPORATED

 

AS
AMENDED

 

The
undersigned, President and Secretary of Gawk, Incorporated, a Nevada corporation (the "Corporation"), hereby certifies
the following:

 

The
Certificate of Designation of Rights, Privileges, Preferences and Restrictions of Series C Convertible Preferred Stock is hereby
amended as follows:

 

3.1             Conversion.
Each share of Series C Preferred Stock shall be convertible, at the
option of the holder thereof after a period of time as set by the Board of Directors following the issuance of such shares of
Series C Stock, into such number of fully paid and non-assessable shares of the Common Stock. For each share of Series C Stock,
the holder will receive upon Conversion, $1,000,000 worth of Common Shares (the °Conversion Ratio") of the Corporation.

 

The
remainder of The Certificate of Designation of Rights, Privileges, Preferences and Restrictions of Series C Convertible Preferred
Stock shall be the same as set forth in full.

 

IN
WITNESS WHEREOF, the Corporation has caused this Certificate of Designation of Rights, Privileges, Preferences and Restrictions
of Series C Convertible Preferred Stock of Gawk, Incorporated to be signed by the Corporation's President and Secretary effective
this 2CP day of August 2014.

 

Gawk,
Incorporated

  

	By	/s/ Scott
    Kettle	 
	 	Scott Kettle, President	 

 

	By	/s/ Michael
    Selsman	 
	 	Michael Selsman, Secretary	 

 

August
22, 2014

 

    	 

    	 

    

 

The
Company has asked us to advise you of our opinion as to whether the Shares may be reissued to, or sold and transferred by, the
stockholder(s) listed on Exhibit A, in each case, free of any restrictive legend imposed under the Securities Act.

 

In
rendering this letter to you, we have reviewed and examined such documents, records, laws, rules and regulations, and upon such
information available to us from the Company, as we have deemed appropriate.

 

Based
upon the foregoing, this letter shall serve as our standing opinion to you that, until the Company or we advise you in writing
to the contrary, the Shares are freely transferable by the stockholder(s) listed on Exhibit A hereto pursuant to Rule 144 under
the Securities Act of 1933, as amended. Accordingly, you need not require further letters from the Company or counsel for the
Company in connection with any future request by a sellipg stockholder to reissue the Shares in such selling stockholder's name,
or in "street" name, or in the name of any transferee of the Shares, in each case, without any restrictive legend under
the Securities Act.

 

Sincerely,Exhibit 4.1

 

[FORM OF FACE OF NOTE]

 

[Global Notes Legend]

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK SA/NV (“EUROCLEAR”), OR CLEARSTREAM BANKING, SOCIETE ANONYME (“CLEARSTREAM”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF ITS AUTHORIZED NOMINEE, OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR OR CLEARSTREAM (AND ANY PAYMENT IS MADE TO ITS AUTHORIZED NOMINEE, OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR OR CLEARSTREAM), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, ITS AUTHORIZED NOMINEE, HAS AN INTEREST HEREIN.

 

THIS NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 9.05 OF THE INDENTURE, (II) THIS NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07 OF THE INDENTURE, (III) THIS NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (IV) THIS NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE).]

 

THE PRICELINE GROUP INC.

 

2.375% SENIOR NOTES DUE 2024

 

No. [·]

 

€1,000,000,000

 

ISIN XS1112850125

CUSIP 741503AU0

 

THE PRICELINE GROUP INC., a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture referred to on the reverse hereof), for value

 

 

received, hereby promises to pay to BT Globenet Nominees Limited or registered assigns, the principal sum as set forth in the attached Schedule of Increases and Decreases, at the office or agency of the Company in the Borough of Manhattan, The City and State of New York, or any other office or agency designated by the Company for that purpose, on September 23, 2024, in euro. If euro is unavailable to us due to the imposition of exchange controls or other circumstances beyond our control or if euro is no longer being used by the then member states of the European Monetary Union that have adopted euro as their currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the notes will be made in U.S. dollars until euro is again available to us or so used, and to pay interest, annually on September 23 of each year, commencing September 23, 2015, on said principal sum at said office or agency, in like coin or currency, at the rate of 2.375% per annum, from the September 23 next preceding the date of this Note to which interest has been paid, unless the date hereof is a date to which interest has been paid, in which case from the date of this Note, or unless no interest has been paid on the Notes (as defined on the reverse hereof), in which case from September 23, 2014, until payment of said principal sum has been made or duly provided for.  The interest so payable on September 23 will, subject to certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of business on the September 8, preceding such September 23, unless the Company shall default in the payment of interest due on such interest payment date, in which case such defaulted interest, at the option of the Company, may be paid to the person in whose name this Note is registered at the close of business on a special record date for the payment of such defaulted interest established by notice to the registered holders of Notes not less than thirty days preceding such special record date or may be paid in any other lawful manner.  Interest on this Note will be calculated on the basis of the actual number of days in the period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on this Note (or September 23, 2014 if no interest has been paid on this Note), to but excluding the next scheduled interest payment date.

 

If any interest payment date, the maturity date or any earlier required repurchase date upon a designated event falls on a day that is not a business day, the required payment will be made on the next succeeding business day and no interest on such payment will accrue in respect of the delay. The term ‘‘business day’’ means any day, other than a Saturday or Sunday, (1) which is not a day on which banking institutions in the City of New York or London are authorized or required by law or executive order to close and (2) on which the Trans-European Automated Real-time Gross Settlement express Transfer system (the TARGET2 system), or any successor thereto, is open.

 

Reference is made to the further provisions of this Note set forth on the reverse hereof.  Such further provisions shall for all purposes have the same effect as though fully set forth at this place.

 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof or an authenticating agent appointed by the Company,

 

 

by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

[Signature page follows]

 

 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed and delivered.

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THE   PRICELINE GROUP INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    

 

 

This is one of the Notes designated therein referred to in the within mentioned Indenture.

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DEUTSCHE   BANK TRUST COMPANY AMERICAS, as Trustee 
    
	
 
    	
 
    
	
 
    	
By:   DEUTSCHE BANK LUXEMBOURG, S.A.,

as   Authenticating Agent
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Authorized   Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Authorized   Signatory
    

 

 

[FORM OF REVERSE OF NOTE]

 

1.                                      Notes.

 

This Note is one of a duly authorized issue of senior notes of the Company (herein called the “Notes”), issued and to be issued in one or more series under an Officers’ Certificate of the Company, dated as of September 23, 2014 (the “Officers’ Certificate”), pursuant to the Indenture dated as of September 23, 2014 (the “Indenture” and, together with the Officer’s Certificate, the “Indenture”) between the Company and Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee,” which term includes any successor Trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, and the Holders and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof as “2.375% Senior Notes due 2024,” issued in an initial aggregate principal amount of €1,000,000,000. The notes will be issued only in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof.  All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

2.                                      No Sinking Fund

 

The Notes will not be entitled to the benefit of any sinking fund.

 

3.                                      Optional Redemption.

 

(a) At the Company’s option, the Notes may be redeemed in whole or in part on or after June 23, 2024 at 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon to but excluding the date of redemption.

 

(b) At the Company’s option, the Notes may be redeemed at any time in whole or in part. If the Company elects to redeem the Notes, the Company will pay a redemption price equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest thereon to but excluding the redemption date: (1) 100% of the aggregate principal amount of the Notes to be redeemed or (2) an amount equal to the sum of the present values of the remaining scheduled payments for principal and interest on the notes, not including any portion of the payments of interest accrued as of such Redemption Date, discounted to such Redemption Date on an annual basis at the Comparable Government Bond Rate, plus 25 basis points.  Neither the Trustee nor the paying agent shall have any responsibility for calculating the redemption price.

 

“Comparable Government Bond Rate” means the price, expressed as a percentage (rounded to three decimal places, with 0.0005 being rounded upwards), at which the gross redemption yield on the notes to be redeemed, if they were to be purchased at such price on the third business day prior to the date fixed for redemption, would be equal to the gross redemption yield on such business day of the Comparable Government Bond (as defined below) on the basis of the middle market price of the Comparable

 

 

Government Bond prevailing at 11:00 a.m. (London time) on such business day as determined by an independent investment bank.

 

“Comparable Government Bond” means, in relation to any Comparable Government Bond Rate calculation, at the discretion of an independent investment bank selected by us, a German government bond whose maturity is closest to the maturity of the notes to be redeemed, or if such independent investment bank in its discretion determines that such similar bond is not in issue, such other German government bond as such independent investment bank may, with the advice of three brokers of, and/or market makers in, German government bonds selected by us, determine to be appropriate for determining the Comparable Government Bond Rate.

 

4.                                      Selection and Notice of Redemption.

 

(a)                                 If less than all of the notes are to be redeemed, in the case of certificated notes, the Trustee will select notes for redemption pro rata or other method it deems appropriate and fair. In the case of global notes, the depositary in coordination with the paying agent may select global notes for redemption pursuant to its applicable procedures. The Trustee, in the case of certificated notes shall select notes and portions of notes in amounts of €100,000 and integral multiples of €1,000 in excess thereof. The depositary, in connection with the paying agent, in the case of global notes, shall select notes and portions of notes in amounts of €100,000 and integral multiples of €1,000 in excess thereof.

 

(b)                                 Notices of redemption will be sent at least 30 but not more than 60 days before the redemption date to each Holder of Notes to be redeemed at its registered address. Notices of redemption may be conditional.

 

5.                                      Acceleration Upon Event of Default.

 

(a)  If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount at maturity of the then outstanding Notes may declare all the Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, with respect to the Company, all outstanding Notes will become due and payable without further action or notice. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in principal amount at maturity of the then outstanding Notes may direct the Trustee in its exercise of any trust or power.

 

(b)  The Holders of a majority in aggregate principal amount at maturity of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, the Notes (provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration and its

 

 

consequences, including any related payment default that resulted from such acceleration).

 

(c)  The Indenture provides that if a Default occurs and is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee shall mail to each Holder notice of the Default within 90 days after it occurs. Except in the case of a Default in the payment of principal of or interest on any Note, the Trustee may withhold the notice if and so long as it in good faith determines that withholding the notice is in the interests of Holders. In addition, the Company is required to deliver to the Trustee, within 120 days after the end of each Fiscal Year (commencing with the Fiscal Year ended December 31, 2014), an Officers’ Certificate stating that in the course of the performance by the signers of their duties as Officers of the Company they would normally have knowledge of any Default and whether or not the signers know of any Default that occurred during such period. The Company is also required to deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form of an Officers’ Certificate of any event which with the giving of notice or the lapse of time would become an Event of Default, its status and what action the Company is taking or proposes to take with respect thereto (provided that, solely with respect to an Event of Default arising from certain events of bankruptcy or insolvency, no such status or description of action is required).

 

6.                                      Amendment and Modification.

 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in principal amount of the Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of not less than a majority in principal amount of the Notes at the time outstanding, on behalf of the Holders of all the Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past Defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued in exchange herefor or in lieu hereof whether or not notation of such consent or waiver is made upon this Note or such other Note.

 

7.                                      No Impairment of Obligation to Pay or Right to Convert.

 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Note at the times, places and rate, and in the coin or currency, herein prescribed or to convert this Note as provided in the Indenture.

 

 

8.                                      Transfer and Exchange.

 

As provided in the Indenture and subject to certain limitations set forth therein, the Notes shall be transferable only upon the surrender of a Note for registration of transfer. When a Note is presented to the Registrar with a request to register a transfer, the Registrar will register the transfer as requested if the requirements of the Indenture are satisfied. When Notes are presented to the Registrar with a request to exchange them for an equal principal amount of Notes of other denominations, the Registrar shall make the exchange as requested if the requirements of the Indenture are met. To permit registration of transfers and exchanges, the Company will execute and the Trustee will authenticate Notes at the Registrar’s request.

 

9.                                      No Service Charge.

 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment by the Holder of a sum sufficient to pay all taxes, assessments or other governmental charges in connection therewith.

 

10.                               Treatment as Owner.

 

The registered holder of a Note will be treated as the owner of it for all purposes.

 

11.                               Payment of Additional Amounts.

 

All payments of principal and interest on the Notes by the Company will be made free and clear of and without withholding or deduction for or on account of any present or future tax, assessment or other governmental charge imposed by the United States (or any political subdivision or taxing authority thereof or therein having power to tax), unless the withholding or deduction of such taxes, assessment or other government charge is required by law or the official interpretation or administration thereof. The Company will, subject to the exceptions and limitations set forth below, pay as additional interest on the Notes such additional amounts as are necessary in order that the net payment by us of the principal of and interest on the notes to a holder who is not a United States person (as defined below), after withholding or deduction for any present or future tax, assessment or other governmental charge imposed by the United States (or any political subdivision or taxing authority thereof or therein having power to tax), will not be less than the amount provided in the Notes to be then due and payable; provided, however, that the foregoing obligation to pay additional amounts shall not apply:

 

(1)  to the extent any tax, assessment or other governmental charge is imposed by reason of the holder (or the beneficial owner for whose benefit such holder holds such note), or a fiduciary, settlor, beneficiary, member or shareholder of the holder if the holder is an estate, trust, partnership or corporation, or a person holding a power over an estate or trust administered by a fiduciary holder, being considered as:

 

(a)  being or having been engaged in a trade or business in the United States or having or having had a permanent establishment in the United States;

 

 

(b)  having a current or former connection with the United States (other than a connection arising solely as a result of the ownership of the Notes, the receipt of any payment or the enforcement of any rights hereunder), including being or having been a citizen or resident of the United States;

 

(c)  being or having been a personal holding company, a passive foreign investment company or a controlled foreign corporation for United States income tax purposes or a corporation that has accumulated earnings to avoid U.S. federal income tax;

 

(d)  being or having been a ‘‘10-percent shareholder’’ of the Company as defined in section 871(h)(3) of the United States Internal Revenue Code of 1986, as amended (the ‘‘Code’’) or any successor provision; or

 

(e)  being a bank receiving payments on an extension of credit made pursuant to a loan agreement entered into in the ordinary course of its trade or business, as described in section 881(c)(3)(A) of the Code or any successor provision;

 

(2)  to any holder that is not the sole beneficial owner of the Notes, or a portion of the Notes, or that is a fiduciary, partnership or limited liability company, but only to the extent that a beneficial owner with respect to the holder, a beneficiary or settlor with respect to the fiduciary, or a beneficial owner or member of the partnership or limited liability company would not have been entitled to the payment of an additional amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment;

 

(3)  to the extent any tax, assessment or other governmental charge that would not have been imposed but for the failure of the holder or any other person to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or connection with the United States of the holder or beneficial owner of the Notes, if compliance is required by statute, by regulation of the United States or any taxing authority therein or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such tax, assessment or other governmental charge;

 

(4)  to any tax, assessment or other governmental charge that is imposed otherwise than by withholding by us or a paying agent from the payment;

 

(5)  to any estate, inheritance, gift, sales, transfer, wealth, capital gains or personal property tax or similar tax, assessment or other governmental charge, or excise tax imposed on the transfer of Notes;

 

(6)  to any withholding or deduction that is imposed on a payment to an individual and that is required to be made pursuant to European Council Directive 2003/48/EC or

 

 

any other directive implementing the conclusions of the ECOFIN Council meeting of November 26 and 27, 2000 on the taxation of savings income, or any law implementing or complying with or introduced in order to conform to, such directive;

 

(7)  to any tax, assessment or other governmental charge required to be withheld by any paying agent from any payment of principal of or interest on any Note as a result of the presentation of any Note for payment (where presentation is required) by or on behalf of a holder of Notes, if such payment could have been made without such withholding by presenting the relevant Note to at least one other paying agent in a member state of the European Union;

 

(8) to the extent any tax, assessment or other governmental charge would not have been imposed but for the presentation by the holder of any Note, where presentation is required, for payment on a date more than 30 days after the date on which payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later;

 

(9)  to any tax, assessment or other governmental charge imposed under Sections 1471 through 1474 of the Code (or any amended or successor provisions), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such sections of the Code; or

 

(10)  in the case of any combination of items (1), (2), (3), (4), (5), (6), (7), (8) and (9).

 

This Note is subject in all cases to any tax, fiscal or other law or regulation or administrative or judicial interpretation applicable to this Note. Except as specifically provided in this Note, the Company will not be required to make any payment for any tax, assessment or other governmental charge imposed by any government or a political subdivision or taxing authority of or in any government or political subdivision.

 

If the Company is required to pay any additional amounts as described above with respect to the Notes, the Company will notify the Trustee and the Paying Agent pursuant to an Officers’ Certificate that specifies the additional amounts payable and when the additional amounts are payable.  If the Trustee and the Paying Agent do not receive such an Officers’ Certificate from the Company, the Trustee and the Paying Agent may conclusively rely on the absence of such an Officer’s Certificate in assuming that no such additional amounts are payable.

 

12.                               Euro.

 

All payments of interest and principal, including payments made upon any redemption of the Notes, will be made in euro; provided that if euro is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the

 

 

Company’s control or if euro is no longer being used by the then member states of the European Monetary Union that have adopted euro as their currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the Notes will be made in U.S. dollars until euro is again available to the Company or so used. The amount payable on any date in euro will be converted into U.S. dollars at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second business day prior to the relevant payment date or, if the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the most recently available market exchange rate for euro, as determined in the Company’s sole discretion. Any payment in respect of the Notes so made in U.S. dollars will not constitute an event of default under the Notes or the Indenture.  Investors will be subject to foreign exchange risks as to payment of principal and interest that may have important economic and tax consequences for them. Neither the Trustee nor the paying agent shall have any responsibility for any calculation or conversion in connection with the forgoing.

 

13.                               Payment of Interest.

 

For Notes in definitive form, interest on such Notes will be payable (i) to holders having an aggregate principal amount of €1.0 million or less, by check mailed to the holders of those Notes and (ii) to holders having an aggregate principal amount of more than €1.0 million, either by check mailed to each holder or, upon application by a holder to the registrar not later than the relevant record date, by wire transfer in immediately available funds to that holder’s account, which application shall remain in effect until the holder notifies, in writing, the registrar to the contrary.

 

The Company shall pay the principal of and interest on Notes in global form registered in the name of or held by Euroclear or Clearstream or their respective nominees in immediately available funds to Euroclear or Clearstream or their respective nominees, as the case may be, as the registered holder of such global notes.

 

14.                               Redemption for Tax Reasons.

 

If, as a result of any change in, or amendment to, the laws (or any regulations or rulings promulgated under the laws) of the United States (or any taxing authority in the United States), or any change in, or amendments to, an official position regarding the application or interpretation of such laws, regulations or rulings, which change or amendment is announced or becomes effective on or after September 23, 2014, the Company becomes or, based upon a written opinion of independent counsel selected by the Company, will become obligated to pay additional amounts as described in Section 11 herein with respect to the Notes, then the Company may at any time at its option redeem, in whole, but not in part, the Notes on not less than 30 nor more than 60 days prior notice, at a redemption price equal to 100% of their principal amount, together with accrued and unpaid interest on those notes to, but not including, the date fixed for redemption.

 

 

15.                               No Liability.

 

No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall have any liability (except in the case of bad faith or willful misconduct) for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes.

 

16.                               Governing Law.

 

THE INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

 

SCHEDULE OF INCREASES OR DECREASES(1)

 

The initial principal amount of this Global Note is €1,000,000,000.  The following increases or decreases in this Global Note have been made:

 

	
Date of
   Exchange
    	
 
    	
Amount of
   decrease in
   Principal Amount
   of this Global Note
    	
 
    	
Amount of
   increase in
   Principal
   Amount of this
   Global Note
    	
 
    	
Principal
   amount of this
   Global Note
   following such
   decrease or
   increase
    	
 
    	
Signature of
   authorized
   signatory of
   Trustee or
   Securities
   Custodian
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

(1)  This schedule should be included only if the Note is a Global Note.

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