Document:

Exhibit
10.20

 

RESTRICTED
STOCK UNIT GRANT NOTICE AND AGREEMENT

 

Rumble
Inc. (the “Company”), pursuant to its 2022 Stock Incentive Plan (as may be amended, restated or otherwise
modified from time to time, the “Plan”), hereby grants to Holder the number of Restricted Stock Units
set forth below, each Restricted Stock Unit being a notional unit representing the right to receive one share of Stock, subject to adjustment
as provided in the Plan (the “Restricted Stock Units”). The Restricted Stock Units are subject to all
of the terms and conditions of this Restricted Stock Unit Grant Notice and Agreement (this “Award Agreement”),
as well as the terms and conditions of the Plan, all of which are incorporated herein in their entirety. To the extent that any provisions
herein (or portion thereof) conflict with any provision of the Plan, the Plan shall prevail and control. Capitalized terms not otherwise
defined herein shall have the same meaning as set forth in the Plan.

 

By
signing below, Holder acknowledges and agrees that the Restricted Stock Units granted hereunder are in lieu of the grant of restricted
shares of Stock contemplated by Section 3.4(a) of that certain Employment Agreement by and between Rumble Inc., a corporation incorporated
under the laws of the Province of Ontario and a subsidiary of the Company, and Holder (the “Employment Agreement”),
and that Holder shall, from and after the Date of Grant, have no right to receive any grant pursuant to Section 3.4(a) of the Employment
Agreement.

 

	Holder:	Christopher Pavlovski
	 	 
	Date of Grant:	September 16, 2022
	 	 
	Vesting Commencement Date:	September 16, 2022
	 	 
	Number of Restricted Stock Units:	1,100,000
	 	 
	Vesting Schedule:	Provided that Holder has not undergone a
    Termination prior to the applicable vesting date, one-third (1/3rd) of the Restricted Stock Units will vest on each of
    the first three (3) anniversaries of the Vesting Commencement Date.
	 	 
	Settlement:	Upon vesting of a
                           Restricted Stock Unit, the Company shall settle each Restricted Stock Unit by delivering to Holder one share
                           of Stock for each Restricted Stock Unit that vested as soon as practicable (but not more than thirty (30)
                           days) following each vesting date (the “Original Issuance Date”). The shares of
                           Stock issued in respect of the Restricted Stock Units may be evidenced in such manner as the Committee shall
                           determine. Notwithstanding the foregoing, if the Original Issuance Date does not occur (i) during an
                           “open window” period applicable to Holder, (ii) on a date when Holder is permitted to sell
                           shares of Stock pursuant to a written plan that meets the requirements of Rule 10b5-1 under the Exchange Act,
                           asHolder: Christopher Pavlovski Date of Grant: September 16, 2022 Vesting Commencement Date:
                           September 16, 2022 Number of Restricted Stock Units: 1,100,000 Vesting Schedule: Provided
                           that Holder has not undergone a Termination prior to the applicable vesting date, one-third (1/3rd)
                           of the Restricted Stock Units will vest on each of the first three (3) anniversaries of the Vesting Commencement
                           Date.   determined by the Company in accordance with the Company’s theneffective policy on trading
                           in Company securities (the “Policy”), or (iii) on a date when Holder is
                           otherwise permitted to sell shares of Stock on an established stock exchange or stock market, then such shares
                           will not be delivered on such Original Issuance Date and will instead be delivered on the first business day
                           of the next occurring “open window” period applicable to Holder pursuant to such Policy (regardless
                           of whether Holder has experienced a Termination at such time) or the next business day when Holder is not
                           prohibited from selling shares of Stock on the open market, but in no event later than the later of (x) December
                           31st of the calendar year in which the Original Issuance Date occurs (that is, the last day of
                           Holder’s taxable year in which the Original Issuance Date occurs), or (y) to the extent permitted
                           by Treasury Regulations Section 1.409A-1(b)(4) without penalty, the fifteenth (15th) day of the
                           third calendar month of the calendar year following the calendar year in which the Original Issuance Date
                           occurs.

 

    

     

    

 

	Termination:	Section
                                            7(d) of the Plan regarding treatment of Restricted Stock Units upon Termination is incorporated
                                            herein by reference and made a part hereof. In the event of Holder’s Termination for
                                            any reason, all unvested Restricted Stock Units shall be cancelled and forfeited as of the
                                            date of such Termination.

 

	General Unsecured Creditor:	Holder
                                            shall have only the rights of a general unsecured creditor of the Company until shares of
                                            Stock are issued in respect of the Restricted Stock Units.
	 	 
	Transfer Restrictions:	Holder
                                            shall not be permitted to sell, transfer, pledge, or otherwise encumber the Restricted Stock
                                            Units before they vest and are settled, and any attempt to sell, transfer, pledge, or otherwise
                                            encumber the Restricted Stock Units in violation of the foregoing shall be null and void.

	 	 
	No Rights as a Stockholder:	Neither
                                           the Restricted Stock Units nor this Award Agreement shall entitle Holder to any voting rights
                                           or other rights as a stockholder of the Company unless and until the shares of Stock in respect
                                           of the Restricted Stock Units have been issued in settlement thereof.

 

	Dividend Equivalent  Rights:	Notwithstanding
                                            anything herein to the contrary, in the event that, prior to the settlement of any Restricted
                                            Stock Units, the Company pays a dividend (whether regular or extraordinary) or otherwise
                                            makes a distribution to a shareholder in respect of a share of Stock (whether in cash, shares
                                            of Stock or other property), then the Company shall credit the Holder, in respect of each
                                            then-outstanding Restricted Stock Unit held by Holder, with additional whole Restricted Share
                                            Units as of the date of payment of such dividends or distributions on shares of Stock, in
                                            such amount as determined by the Committee, provided that for purposes of this Award Agreement,
                                            such additional Restricted Stock Units shall vest at the same time as such Restricted Stock
                                            Unit vests and is settled as described above (and Holder shall forfeit any such right to
                                            such additional Restricted Stock Units if such Restricted Stock Unit is forfeited prior to
                                            vesting).

 

	Class D Common Stock Forfeiture:	By
                                            signing below, Holder acknowledges and agrees that, in the event that any Restricted Stock
                                            Units granted hereunder are forfeited or cancelled for any reason prior to settlement, a
                                            number of shares of Class D Common Stock of the Company held by Holder and Holder’s
                                            affiliates (rounded down to the nearest whole number of shares) equal to the number of shares
                                            of Stock underlying such forfeited or cancelled Restricted Stock Units shall, automatically
                                            without further action by the Company, Holder or any other Person, be cancelled to the Company
                                            concurrently with such forfeiture or cancellation (such cancellation to be on a pro rata
                                            basis as between Holder and Holder’s affiliates).
	 	 
	Clawback Policy; Share Ownership Guidelines:	The Restricted Stock
                           Units (and any compensation paid or shares issued in respect of the Restricted Stock Units) are subject to
                           (i) any share ownership guidelines to which the Holder may be subject, and (ii) recoupment in accordance
                           with the Company’s clawback policy, if applicable, The Dodd-Frank Wall Street Reform and Consumer Protection
                           Act and any implementing regulations thereunder, any other clawback policy adopted by the Company and any
                           compensation recovery policy otherwise required by applicable law.
	 	 
	Additional Terms:	The Restricted
                                 Stock Units shall be subject to the following additional terms:

 

		●	Any
                                            certificates representing the shares of Stock delivered to Holder shall be subject to such
                                            stop transfer orders and other restrictions as the Committee may deem advisable under the
                                            rules, regulations, and other requirements of the Securities and Exchange Commission, any
                                            stock exchange upon which such shares are listed, and any applicable federal or state laws,
                                            and the Committee may cause a legend or legends to be put on any such certificates to make
                                            appropriate reference to such restrictions as the Committee deems appropriate.

 

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		●	Holder
                                            shall be the record owner of the shares of Stock issued in respect of the Restricted Stock
                                            Units until or unless such shares of Stock are repurchased or otherwise sold or transferred
                                            in accordance with the terms of the Plan, and as record owner shall generally be entitled
                                            to all rights of a stockholder with respect to the shares of Stock issued in respect of the
                                            Restricted Stock Units.

 

		●	Upon
                                            issuance of shares of Stock in respect of the Restricted Stock Units, Holder shall be required
                                            to satisfy applicable withholding tax obligations, if any, as provided in Section 16
                                            of the Plan.

 

		●	This
                                            Award Agreement does not confer upon Holder any right to continue as an employee or service
                                            provider of the Service Recipient or any other member of the Company Group.

 

		●	Holder
                                            understands that the Restricted Stock Units are intended to be exempt from Section 409A
                                            of the Code as a “short term deferral” to the greatest extent possible and the
                                            Restricted Stock Units will be administered and interpreted in accordance with such intent.
                                            In no event whatsoever shall the Company or any of its Affiliates be liable for any additional
                                            tax, interest or penalties that may be imposed on Holder as a result of Section 409A
                                            of the Code or any damages for failing to comply with Section 409A of the Code (other
                                            than for withholding obligations or other obligations applicable to employers, if any, under
                                            Section 409A of the Code).

 

		●	This
                                            Award Agreement shall be construed and interpreted in accordance with the laws of the State
                                            of Delaware, without regard to the principles of conflicts of law thereof.

 

		●	Holder
                                            agrees that the Company may deliver by email all documents relating to the Plan or the Restricted
                                            Stock Units (including, without limitation, a copy of the Plan) and all other documents that
                                            the Company is required to deliver to its security holders (including, without limitation,
                                            disclosures that may be required by the Securities and Exchange Commission). Holder also
                                            agrees that the Company may deliver these documents by posting them on a website maintained
                                            by the Company or by a third party under contract with the Company. If the Company posts
                                            these documents on a website, it shall notify Holder by email or such other reasonable manner
                                            as then determined by the Company.

 

		●	This
                                            Award Agreement and the Plan constitute the entire understanding and agreement of the parties
                                            hereto and supersede all prior negotiations, discussions, correspondence, communications,
                                            understandings, and agreements (whether oral or written and whether express or implied) between
                                            the Company or any of its Affiliates and Holder relating to the subject matter of this Award
                                            Agreement, including, without limitation, Section 3.4(a) of the Employment Agreement. Without
                                            limiting the foregoing, to the extent Holder has entered into an employment or similar agreement
                                            with the Company or any of its Affiliates, and the terms noted in such employment or similar
                                            agreement are inconsistent with or conflict with this Award Agreement, then the terms of
                                            this Award Agreement will supersede and be deemed to amend and modify the inconsistent or
                                            conflicting terms set forth in such employment or similar agreement.

 

	Representations and Warranties of Holder:	Holder hereby represents and warrants
  to the Company in connection with the grant of the Restricted Stock Units hereunder that:

 

		●	Holder
                                            understands that the shares of Stock subject to the Restricted Stock Units have not been
                                            registered under the Securities Act, nor qualified under any state securities laws, and that
                                            the Restricted Stock Units are being offered and sold pursuant to an exemption from such
                                            registration and qualification based in part upon Holder’s representations contained
                                            herein; the Restricted Stock Units are being issued to Holder hereunder in reliance upon
                                            the exemption from such registration provided by Section 4(a)(2) of the Securities Act for
                                            transactions by an issuer not involving any public offering;

 

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		●	Holder
                                            is an “accredited investor” as such term is defined in Rule 501(a) of the
                                            Securities Act and has such knowledge and experience in financial and business matters that
                                            Holder is capable of evaluating the merits and risks of the investment contemplated by this
                                            Award Agreement; and Holder is able to bear the economic risk of this investment in the Company
                                            (including a complete loss of this investment);

 

		●	Except
                                            as specifically provided herein or in the Plan, Holder has no contract, undertaking, understanding,
                                            agreement or arrangement, formal or informal, with any person to sell, transfer or pledge
                                            all or any portion of the Restricted Stock Units or any shares of Stock acquired upon settlement
                                            of the Restricted Stock Units granted hereunder, and has no current plans to enter into any
                                            such contract, undertaking, understanding, agreement or arrangement;

 

		●	Holder
                                            has not seen, received, been presented with, or been solicited by any leaflet, public promotional
                                            meeting, article or any other form of advertising or general solicitation as to the Company’s
                                            grant to Holder of the Restricted Stock Units;

 

		●	Holder
                                            is familiar with the business and operations of the Company and has been afforded an opportunity
                                            to ask such questions of the Company’s agents, accountants and other representatives
                                            concerning the Company’s proposed business, operations, financial condition, assets,
                                            liabilities and other relevant matters as he, she or it has deemed necessary or desirable
                                            in order to evaluate the merits and risks of the investment contemplated herein;

 

		●	Holder
                                            has been informed that the shares of Stock that will be delivered upon settlement of the
                                            Restricted Stock Units granted hereunder will be restricted securities under the Securities
                                            Act and may not be resold or transferred unless the shares of Stock are first registered
                                            under the federal securities laws or unless an exemption from such registration is available;

 

		●	Holder
                                            is prepared to hold the shares of Stock acquired upon settlement of the Restricted Stock
                                            Units granted hereunder for an indefinite period and that Holder is aware that Rule 144
                                            as promulgated under the Securities Act, which exempts certain resales of restricted securities,
                                            is not presently available to exempt the resale of the shares of Stock from the registration
                                            requirements of the Securities Act; and

 

		●	Holders
                                            understands that until such time as the shares of Stock acquired upon settlement of the Restricted
                                            Stock Units granted hereunder have been registered under the Securities Act or may be sold
                                            pursuant to Rule 144, Rule 144A under the Securities Act or Regulation S without
                                            any restriction as to the number of securities as of a particular date that can then be immediately
                                            sold, the shares of Stock acquired upon settlement of the Restricted Stock Units granted
                                            hereunder may bear a restrictive legend in substantially the following form (and a stop-transfer
                                            order may be placed against transfer of the certificates for such shares of Stock):

 

	 	“NEITHER
                                            THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED
                                            UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THESE
                                            SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE
                                            OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF
                                            1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY HOLDER),
                                            IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
                                            SOLD PURSUANT TO RULE 144, RULE 144A OR REGULATION S UNDER SAID ACT.”

 

*     *     *

 

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The
undersigned Holder acknowledges receipt of THIS Award Agreement AND the plan, and, as an express condition to the grant of RESTRICTED
STOCK UNITS UNDER THIS AWARD AGREEMENT, agrees to be bound by the terms of BOTH THIS Award agreement and the Plan. 

 

	RUMBLE INC.	 	Holder
	 	 	 	 	 
	By:	/s/ Brandon
    Alexandroff	 	/s/
    Christopher Pavlovski
	Signature	 	Signature
	Name: 	Brandon Alexandroff	 	Print Name:  	Christopher Pavlovski
	Title: 	Chief Financial Officer	 	Date: September 16th, 2022

 

[Signature
Page to C. Pavlovski Restricted Stock Unit Agreement]Exhibit 4.3

 

THE SECURITIES REFERENCED HEREIN HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH,
THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO
OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

 

CONVERTIBLE PROMISSORY NOTE

 

	$500,000	 March 1, 2022
	 	Ponte Vedra, Florida

 

For value received, Cadrenal Therapeutics, Inc.,
a Delaware corporation (the “Company”), promises to pay to ### account
### (the “Holder”), the principal sum of five hundred thousand dollars ($500,000). Interest shall accrue from the date of
this Note on the unpaid principal amount at a rate equal to five percent (5.0%) per annum, simple interest, computed on the basis of the
360-day year of twelve 30-day months. This Note is one of a series of Convertible Promissory Notes containing substantially identical
terms and conditions issued pursuant to that the Company’s $2 Million Convertible Note Offering (the “Offering”) and
the subscription agreement executed by Holder thereunder (the “Subscription Agreement”). Such Notes are referred to herein
as the “Notes,” and the holders thereof are referred to herein as the “Holders.” Capitalized terms not otherwise
defined herein have the meaning given them in the Subscription Agreement. This Note is subject to the following terms and conditions.

 

1. Maturity. Unless converted as provided
in Section 2, principal and any accrued but unpaid interest under this Note shall be due and payable upon demand of Holder at any time
after the third anniversary of the date of this Note (the “Maturity Date”). Notwithstanding the foregoing, the entire
unpaid principal sum of this Note, together with accrued and unpaid interest thereon, shall become immediately due and payable upon the
commission of any act of bankruptcy by the Company, the execution by the Company of a general assignment for the benefit of creditors,
the filing by or against the Company of a petition in bankruptcy or any petition for relief under the federal bankruptcy act or the continuation
of such petition without dismissal for a period of 90 days or more, or the appointment of a receiver or trustee to take possession of
the property or assets of the Company.

 

2. Next Equity Conversion.

 

(a) Next Equity Financing.
On or before the Maturity Date, principal and (at the Company’s option) any accrued but unpaid interest under this Note automatically
shall be converted into equity securities issued and sold at the initial closing of the Company’s next equity financing (the “Next
Equity Securities”) in a single transaction or a series of related transactions yielding gross proceeds to the Company of at
least $3,000,000 (including conversion of the Notes) (the “Next Equity Financing”).

 

(b) Terms of Conversion.
The number of shares of Next Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing (i)
the entire principal amount of this Note plus (if applicable) any accrued but unpaid interest under this Note by (ii) [eighty percent
(80%)] of the price per share of the Next Equity Securities sold in the Next Equity Financing (the “Note Conversion Rate”)
and the issuance of such securities upon such conversion shall be upon the terms and subject to the conditions applicable to the Next
Equity Financing and the Company’s Certificate of Incorporation and Bylaws and/or other governing documents, as determined by the
Company and its investors in their sole discretion. If the Company elects to convert accrued interest into Next Equity Securities, this
election shall apply equally to all of the Notes. Upon such conversion of this Note, the Holder hereby agrees to execute and deliver to
the Company all transaction documents related to the Next Equity Financing, including a purchase agreement and other ancillary agreements,
with customary representations and warranties and transfer restrictions (including a lock-up agreement in connection with an initial public
offering).

 

     

     

    

 

3. Change of Control. In the event of a
Change of Control (as defined below) which occurs prior to repayment in full of this Note, immediately prior to such Change of Control,
the outstanding principal and any accrued but unpaid interest on this Note shall convert directly into common equity of the Company (or
directly into proceeds paid to the holders of common equity in connection with the Change of Control) at a price per share that is 80%
of the price per share of common equity paid at the Change of Control. The term “Change of Control” means (i) a sale of all
or substantially all of the Company’s assets other than to an Excluded Entity (as defined below), (ii) a merger, consolidation or
other capital reorganization or business combination transaction of the Company with or into another corporation, limited liability company
or other entity other than an Excluded Entity, or (iii) the consummation of a transaction, or series of related transactions, in which
any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of all
of the Company’s then outstanding voting securities.

 

Notwithstanding the foregoing,
a transaction shall not constitute a Change of Control if its sole purpose is to (A) change the jurisdiction of the Company’s organization,
formation or incorporation, (B) create a holding company that will be owned in substantially the same proportions by the persons who hold
the Company’s securities immediately before such transaction, or (C) obtain funding for the Company in a financing that is approved
by the Company’s Board of [Managers/Directors]. An “Excluded Entity” means a corporation or other entity of which the
holders of voting securities of the Company outstanding immediately prior to such transaction are the direct or indirect holders of voting
securities representing at least a majority of the votes entitled to be cast by all of such corporation’s or other entity’s
voting securities outstanding immediately after such transaction.

 

4. Mechanics and Effect of Conversion.
No fractional shares of the Company’s equity will be issued upon conversion of this Note. In lieu of any fractional share to which
the Holder would otherwise be entitled, the Company will pay to the Holder in cash the amount of the unconverted principal and interest
balance of this Note that would otherwise be converted into such fractional share. Upon conversion of this Note pursuant to Section 2,
the Holder shall surrender this Note, duly endorsed, at the principal offices of the Company or any transfer agent of the Company. At
its expense, the Company will, as soon as practicable thereafter, issue the number of securities to which such Holder is entitled upon
such conversion, together with any other securities and property to which the Holder is entitled upon such conversion under the terms
of this Note, including a check payable to the Holder for any cash amounts payable as described herein and shall deliver to such Holder,
at such principal office, a certificate or certificates for the number of securities to which such Holder is entitled upon such conversion.
Upon conversion of this Note, the Company will be forever released from all of its obligations and liabilities under this Note with regard
to that portion of the principal amount and accrued interest being converted including without limitation the obligation to pay such portion
of the principal amount and accrued interest. Upon conversion of the principal amount of this Note into the Company’s equity securities,
any interest accrued on this Note that is not by reason of Section 2 simultaneously converted into such equity securities shall be immediately
paid to the Holder.

 

    2

     

    

 

5. Payment; Prepayment. All payments shall
be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing
to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder shall be applied to principal.
The Company may prepay this Note at any time without penalty.

 

6. Stockholders,
Officers and Directors Not Liable. In no event shall any stockholder, officer or director of the Company be liable for any amounts
due or payable pursuant to this Note.

 

7. Interest
Rate Limitation. Notwithstanding anything to the contrary contained in this Note, the interest paid or agreed to be paid under this
Note shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If the Holder
shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal remaining owed
under this Note or, if it exceeds such unpaid principal, refunded to the Company. In determining whether interest contracted for, charged
or received by the Holder exceeds the Maximum Rate, the Holder may, to the extent permitted by applicable law, (a) characterize any payment
that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof and
(c) amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout the contemplated term of
this Notes.

 

8. Action
to Collect on Note. If action is institutes to collect on this Note, the Company shall be obligated to pay all of each Holder’s
costs and expenses, including reasonable attorney’s fees, incurred in connection with such action.

 

9. Loss
of Note. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Note or
any Note exchanged for it, and indemnity satisfactory to the Company (in case of loss, theft or destruction) or surrender and cancellation
of such Note (in the case of mutilation), the Company will make and deliver in lieu of such Note a new Note of like tenor.

 

10. Miscellaneous.

 

(a) Governing Law.
The validity, interpretation, construction and performance of this Note, and all acts and transactions pursuant hereto and the rights
and obligations of the Company and Holder shall be governed, construed and interpreted in accordance with the laws of the state of Delaware,
without giving effect to principles of conflicts of law.

 

(b) Entire
Agreement. This Note, together with the Subscription Agreement and the documents referred to therein, constitute the entire agreement
and understanding between the Company and the Holder relating to the subject matter herein and supersedes all prior or contemporaneous
discussions, understandings and agreements, whether oral or written between them relating to the subject matter hereof.

 

    3

     

    

 

(c) Amendments and Waivers.
Any term of this Note may be amended only with the written consent of the Company and at least a majority in interest of the Holders.
Any amendment or waiver effected in accordance with this Section 10(c) shall be binding upon the Company, each Holder and each transferee
of any Note.

 

(d) Successors
and Assigns. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and
assigns of the Company and the Holder. Notwithstanding the foregoing, the Holder may not assign, pledge, or otherwise transfer this Note
without the prior written consent of the Company. Subject to the preceding sentence, this Note may be transferred only upon surrender
of the original Note for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in
form satisfactory to the Company. Thereupon, a new note for the same principal amount and interest will be issued to, and registered in
the name of, the transferee. Interest and principal are payable only to the registered holder of this Note.

 

(e) Notices. Any notice,
demand or request required or permitted to be given under this Note shall be in writing and shall be deemed sufficient when delivered
personally or by overnight courier or sent by email, or 48 hours after being deposited in the U.S. mail as certified or registered mail
with postage prepaid, addressed to the party to be notified at such party’s address as set forth on the signature page, as subsequently
modified by written notice, or if no address is specified on the signature page, the most recent address set forth in the Company’s
books and records.

 

(f) Counterparts.
This Note may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and
all of which together shall constitute one and the same instrument.

 

[Signature Page Follows]

 

    4

     

    

 

IN WITNESS WHEREOF, the Company
has executed this Convertible Promissory Note as of the date first set forth above.

 

	THE COMPANY:	 
	 	 	 
	Cadrenal Therapeutics, Inc.	 
	 	 	 
	By:	 	 
	 		 

 

	AGREED TO AND ACCEPTED:	 
	 	 
	THE HOLDER:	 
	 	 
	
		 
		 
	(PRINT NAME) 	 
	 	 
		 
	(SIGNATURE)	 

 

	Address:	     ###
	 	 
	Email:	    ###

 

 

5

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