Document:

Exhibit 10.1

 

THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THESE SECURITIES
MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH
RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH RULE 144 OR 144A THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS, (D) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR (E) IN A TRANSACTION THAT DOES NOT
REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS, PRIOR TO SUCH SALE,
FURNISHED TO THE COMPANY AN OPINION OF COUNSEL OR OTHER EVIDENCE OF EXEMPTION, IN EITHER CASE REASONABLY SATISFACTORY TO THE COMPANY.
HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE U.S. SECURITIES ACT.

 

FORM OF 15% CONVERTIBLE PROMISSORY NOTE

 

PROBILITY MEDIA CORPORATION

 

DUE [_________], 2018

 

	Original Issue Date: [_________], 2017	US $[_______]       

 

This Convertible Promissory
Note is one of a series of duly authorized and issued convertible promissory notes of ProBility Media Corp., a Nevada corporation
(the “Company”), designated its 15% Convertible Promissory Notes due [_________], 2018, (the “Note”),
issued to [_________] (together with its permitted successors and assigns, the “Holder”) in accordance with
exemptions from registration under the Securities Act of 1933, as amended (the “Securities Act”).

 

Article I.

 

Section 1.01     Principal
and Interest. For value received, the Company hereby promises to pay to the order of the Holder, in lawful money of the United
States of America and in immediately available funds the principal sum of $[_______] on the earliest of (i) [_________], 2018 (the
“Maturity Date”), or (ii) an Event of Default (as defined in Section 3.01).

 

(a)       This
Note shall accrue interest at 15% per annum on the unpaid principal balance of the Note. Interest shall be paid in cash monthly
at 1.25% per month on the 1st of each month beginning on [________], 2017. The Holder may elect to receive the interest
payment in shares which will be priced at the Conversion Price (as set forth below).

 

(b)       On
the Maturity Date, the entire unpaid principal amount and accrued interest shall be paid to the Holder, unless this Note is converted
in accordance with Section 1.02 herein.

 

(c)       Except
as otherwise set forth in this Note, the Company may prepay any portion of the principal amount of this Note without the prior
written consent of the Holder.

 

 

 

    	 	1	 

     

    

 

Section 1.02     Conversion.
The Holder shall be entitled, at its option, to convert all or any part of the principal amount of the Note into the Company’s
common stock at a fixed conversion price (the “Conversion Price,” as set forth below). The number of Conversion
Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal
amount of this Note plus any accrued interest to be converted as set forth in the applicable Conversion Notice by (y) the Conversion
Price. To convert this Note, the Holder hereof shall deliver written notice thereof, substantially in the form of Exhibit A
to this Note, with appropriate insertions (the “Conversion Notice”), to the Company at its address as set forth
herein. The date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be
the date set forth in the Conversion Notice. Any conversion of any portion of the Note shall be deemed to be a pre-payment of principal,
without any penalty, and shall be credited against any future payments of principal in the order that such payments become due
and payable. The Conversion Price shall be $.15 per share

 

Section 1.03     Absolute
Obligation/Ranking. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, and liquidated damages (if any) on, this Note at the
time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company. This
Note ranks pari passu with all other Notes now or hereinafter issued.

 

Section 1.04     Paying
Agent and Registrar. Initially, the Company will act as paying agent and registrar. The Company may change any paying agent,
registrar, or Company-registrar by giving the Holder not less than ten (10) business days’ written notice of its election
to do so, specifying the name, address, telephone number and facsimile number of the paying agent or registrar. The Company may
act in any such capacity.

 

Section 1.05     Different
Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations,
as requested by the Holder surrendering the same. No service charge will be made for such registration of transfer or exchange.

 

Section 1.06     Reliance
on Note Register. Prior to due presentment to the Company for transfer or conversion of this Note, the Company and any agent
of the Company may treat the person in whose name this Note is duly registered on the Note Register as the owner hereof for the
purpose of receiving payment as herein provided and for all other purposes, whether or not this Note is overdue, and neither the
Company nor any such agent shall be affected by notice to the contrary.

 

Section 1.07     In
addition to the rights and remedies given it by this Note, the Holder shall have all those rights and remedies allowed by applicable
laws. The rights and remedies of the Holder are cumulative and recourse to one or more right or remedy shall not constitute a waiver
of the others.

 

Article II.

 

Section 2.01     Amendments
and Waiver of Default. The Note may not be amended without the consent of the Holder. Notwithstanding the above, without the
consent of the Holder, the Note may be amended to cure any ambiguity, defect or inconsistency or to make any change that does not
adversely affect the rights of the Holder.

 

 

 

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Article III.

 

Section 3.01     Events
of Default. Each of the following events shall constitute a default under this Note (each an “Event of Default”):

 

(a)       failure
by the Company to pay principal amount due hereunder within five (5) days of the date such payment is due;

 

(b)       failure
by the Company’s transfer agent to issue Common Stock to the Holder within five (5) days of the Company’s receipt
of the attached Conversion Notice from Holder;

 

(c)       failure
by the Company for five (5) days after notice to it to comply with any of its other agreements in the Note;

 

Section 3.02     If
any Event of Default occurs, the full principal amount of this Note, together with any other amounts owing in respect thereof,
to the date of acceleration shall become, at the Holder’s election, immediately due and payable in cash. Commencing five
(5) days after the occurrence of any Event of Default that results in the eventual acceleration of this Note, interest on this
Note shall begin to accrue at the rate of 15% per annum, or such lower maximum amount of interest permitted to be charged under
applicable law. All Notes for which the full amount hereunder shall have been paid in accordance herewith shall promptly be surrendered
to or as directed by the Company. The Holder need not provide and the Company hereby waives any presentment, demand, protest or
other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its
rights and remedies hereunder and all other remedies available to it under applicable law. Such declaration may be rescinded and
annulled by the Holder at any time prior to payment hereunder and the Holder shall have all rights as a Note holder until such
time, if any, as the full payment under this Section shall have been received by it. No such rescission or annulment shall affect
any subsequent Event of Default or impair any right consequent thereon.

 

Article IV.

 

Section 4.01     Re-issuance of Note.
If the Holder elects to convert only a part of the Note, then the Company shall reissue a new Note in the same form as this Note
to reflect the new principal amount and the Holder shall return the Note to the Company for cancellation

 

Article V.

Section 5.01     Adjustments and Limits on Conversion

 

(a)       Adjustment
of Conversion Price upon Subdivision or Combination of Common Stock. If the Company at any time after the date of issuance
of this Note subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding
shares of Common Stock into a greater number of shares, the Conversion Price in effect immediately prior to such subdivision will
be proportionately reduced. If the Company at any time after the date of issuance of this Note combines (by combination, reverse
stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Conversion
Price in effect immediately prior to such combination will be proportionately increased. Any adjustment under this Section 6.01(a)
shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

 

 

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(b)       Distribution
of Assets. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its
assets) to holders of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of
cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement
or other similar transaction) (a “Distribution”), at any time after the issuance of this Note, then, in each
such case the Conversion Price in effect immediately prior to the close of business on the record date fixed for the determination
of holders of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such
record date, to a price determined by multiplying such Conversion Price by a fraction of which (A) the numerator shall be the closing
bid price of the Common Stock on the trading day immediately preceding such record date minus the value of the Distribution (as
determined in good faith by the Company’s Board of Directors) applicable to one share of Common Stock, and (B) the denominator
shall be the closing bid price of the Common Stock on the trading day immediately preceding such record date.

 

(c)       Conversion
Limitation. Notwithstanding anything contained herein to the contrary, the Holder shall not be entitled to convert pursuant
to the terms of the Note an amount that would be convertible into that number of shares of Common Stock which, when added to the
number of shares of Common Stock otherwise beneficially owned by such Holder would exceed 9.99% of the outstanding shares of Common
Stock of the Borrower at the time of conversion. For the purposes of the immediately preceding sentence, beneficial ownership shall
be determined in accordance with Section 13(d) of the Exchange Act and Regulation 13d-3 thereunder.

 

Article VII

 

Section 7.01Notice.
Notices regarding this Note shall be sent to the parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

 

	If to the Company, to:	
        ProBility Media Corp.

        1517 San Jacinto Street

        Houston, Texas 77002

	 	 
	 	 
	 	 
	If to the Holder:	
        [_________]

        [_________]

        [_________]

         

 

Section 7.02     Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by
and construed and enforced in accordance with the internal laws of the State of Texas, without regard to the principles of conflicts
of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of Houston,
County of Harris (the “Harris County Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction
of the Harris County Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, or such Harris County Courts are improper or inconvenient venue for such proceeding. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy
thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect
for notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.
Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury
in any legal proceeding arising out of or relating to this Note or the transactions contemplated hereby. If either party shall
commence an action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or proceeding
shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding.

 

 

 

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Section 7.03     Severability.
The invalidity of any of the provisions of this Note shall not invalidate or otherwise affect any of the other provisions of this
Note, which shall remain in full force and effect.

 

Section 7.04     Entire
Agreement and Amendments. This Note represents the entire agreement between the parties hereto with respect to the subject
matter hereof and there are no representations, warranties or commitments, except as set forth herein. This Note may be amended
only by an instrument in writing executed by the parties hereto.

 

[Remainder of Page Intentionally Left
Blank]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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IN WITNESS WHEREOF,
with the intent to be legally bound hereby, the Company as executed this Note as of the date first written above.

 

 

	 	ProBility Media Corp.
	 	 
	 	 
	 	By: _______________________
	 	Name:   Steven M. Plumb
	 	Title:   Chief Financial Officer
	 	 
	 	 
	 	 
	 	Investor
	 	 
	 	 
	 	By: _______________
	 	Name:   [_________]
	 	Title:   [_________]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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EXHIBIT A

 

NOTICE OF CONVERSION

 

(To be executed by the Holder in order
to convert the Note)

 

TO: PROBILITY MEDIA CORP.  

 

The undersigned hereby
irrevocably elects to convert $_________________ of the principal amount of the above Note into Shares of Common Stock of ProBility
Media Corp., according to the conditions stated therein, as of the Conversion Date written below.

 

	Conversion Date:	 
	Applicable Conversion Price:	 
	Signature:	 
	Name:	 
	Address:	 
	Amount to be converted:	$
	Amount of Note unconverted:	$
	Conversion Price: 	$
	Number of shares of Common Stock to be issued including as payment of interest, if applicable:	 
	Please issue the shares of Common Stock in the following name and to the following address:	 
	Issue to the following account of the Holder:	 
	Authorized Signature:	 
	Name:	 
	Title:	 
	Phone Number:	 
	Broker DTC Participant Code:	 
	Account Number:	 

 

 

 

 

 

 

 

    	 	7Exhibit 10.2

 

THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THESE SECURITIES
MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH
RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH RULE 144 OR 144A THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS, (D) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR (E) IN A TRANSACTION THAT DOES NOT
REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS, PRIOR TO SUCH SALE,
FURNISHED TO THE COMPANY AN OPINION OF COUNSEL OR OTHER EVIDENCE OF EXEMPTION, IN EITHER CASE REASONABLY SATISFACTORY TO THE COMPANY.
HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE U.S. SECURITIES ACT.

 

12% CONVERTIBLE PROMISSORY NOTE

 

PROBILITY MEDIA CORPORATION

 

DUE JUNE 16, 2020

 

	Original Issue Date: June 16, 2017	US$200,000

 

This Convertible Promissory
Note is one of a series of duly authorized and issued convertible promissory notes of ProBility Media Corp., a Nevada corporation
(the “Company”), designated its 12% Convertible Promissory Note due June 16, 2020 (the “Note”),
issued to Fred Verde Irrevocable Life Insurance Trust dated 2/28/1997, Philip E. Ruben, Trustee, 2801 Lakeside Drive, Suite 207,
Bannockburn, Il 60015 (together with its permitted successors and assigns, the “Holder”) in accordance with
exemptions from registration under the Securities Act of 1933, as amended (the “Securities Act”).

 

Article I.

 

Section I.01     Principal
and Interest. For value received, the Company hereby promises to pay to the order of the Holder, in lawful money of the United
States of America and in immediately available funds the principal sum of $200,000 on the earliest of (i) June 16, 2020 (the “Maturity
Date”), or (ii) an Event of Default (as defined in Section 3.01).

 

(a)       This
Note shall accrue interest at 12% per annum on the unpaid principal balance of the Note. Interest shall be paid in cash monthly
at 1% per month on the 16th of each month beginning on July 16, 2017. The Holder may elect to receive the interest payment in shares
which will be priced at the Conversion Price (as set forth below).

 

(b)       On
the Maturity Date, the entire unpaid principal amount and any unpaid accrued interest shall be paid to the Holder, unless this
Note is converted in accordance with Section 1.02 herein.

 

 

 

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(c)       Except
as otherwise set forth in this Note, the Company may prepay any portion of the principal amount of this Note without the prior
written consent of the Holder.

 

Section I.02     Conversion.
The Holder shall be entitled, at its option, to convert all or any part of the principal amount of the Note into the Company’s
common stock at a fixed conversion price (the “Conversion Price,” as set forth below). The number of Conversion
Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal
amount of this Note plus any accrued interest to be converted as set forth in the applicable Conversion Notice by (y) the Conversion
Price. To convert this Note, the Holder hereof shall deliver written notice thereof, substantially in the form of Exhibit A
to this Note, with appropriate insertions (the “Conversion Notice”), to the Company at its address as set forth
herein. The date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be
the date set forth in the Conversion Notice. Any conversion of any portion of the Note shall be deemed to be a pre-payment of principal,
without any penalty, and shall be credited against any future payments of principal in the order that such payments become due
and payable. The Conversion Price shall be $0.25 per share.

 

Section I.03     Forced
Conversion. After June 16, 2018, the Company shall have the right to force conversion of all of the outstanding Note if any
of the following conditions are met: (1) the common stock has a bid price of at least $1.00 per share on each of the 30 prior trading
days on the date in question; (2) the average daily trading volume for the prior 30 trading days exceeds 200,000 shares; (3) the
Company is listed in good compliance on the NASDAQ or any other National Exchange.

 

Section I.04     Absolute
Obligation/Ranking. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, and liquidated damages (if any) on, this Note at the
time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company. This
Note ranks pari passu with all other Notes now or hereinafter issued.

 

Section I.05     Paying
Agent and Registrar. Initially, the Company will act as paying agent and registrar. The Company may change any paying agent,
registrar, or Company-registrar by giving the Holder not less than ten (10) business days’ written notice of its election
to do so, specifying the name, address, telephone number and facsimile number of the paying agent or registrar. The Company may
act in any such capacity.

 

Section I.06     Different
Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations,
as requested by the Holder surrendering the same. No service charge will be made for such registration of transfer or exchange.

 

Section I.07     Reliance
on Note Register. Prior to due presentment to the Company for transfer or conversion of this Note, the Company and any agent
of the Company may treat the person in whose name this Note is duly registered on the Note Register as the owner hereof for the
purpose of receiving payment as herein provided and for all other purposes, whether or not this Note is overdue, and neither the
Company nor any such agent shall be affected by notice to the contrary.

 

Section I.08     In
addition to the rights and remedies given it by this Note, the Holder shall have all those rights and remedies allowed by applicable
laws. The rights and remedies of the Holder are cumulative and recourse to one or more right or remedy shall not constitute a waiver
of the others.

 

 

 

    	 	2	 

     

    

 

 

Article II.

 

Section II.01     Amendments
and Waiver of Default. The Note may not be amended without the consent of the Holder. Notwithstanding the above, without the
consent of the Holder, the Note may be amended to cure any ambiguity, defect or inconsistency or to make any change that does not
adversely affect the rights of the Holder.

 

Article III.

 

Section III.01     Events
of Default. Each of the following events shall constitute a default under this Note (each an “Event of Default”):

 

(a)       failure
by the Company to pay either the interest or principal amount due hereunder within ten (10) days of the date such payment is due;

 

(b)       failure
by the Company’s transfer agent to issue Common Stock to the Holder within fifteen (15) business days of the Company’s
receipt of the attached Conversion Notice from Holder;

 

(c)       failure
by the Company for fifteen (15) business days after notice to it to comply with any of its other agreements in the Note;

 

Section
III.02     If any Event of Default occurs, the full principal amount of this Note, together with
any other amounts owing in respect thereof, to the date of acceleration shall become, at the Holder’s election, immediately
due and payable in cash. Commencing fifteen (15) days after the occurrence of any Event of Default that results in the eventual
acceleration of this Note, interest on this Note shall begin to accrue at the rate of 18% per annum, or such lower maximum amount
of interest permitted to be charged under applicable law. All Notes for which the full amount hereunder shall have been paid in
accordance herewith shall promptly be surrendered to or as directed by the Company. The Holder need not provide and the Company
hereby waives any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration
of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable
law. Such declaration may be rescinded and annulled by the Holder at any time prior to payment hereunder and the Holder shall
have all rights as a Note holder until such time, if any, as the full payment under this Section shall have been received by it.
No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

 

Article IV.

 

Section IV.01     Re-issuance
of Note. If the Holder elects to convert only a part of the Note, then the Company shall reissue a new Note in the same form
as this Note to reflect the new principal amount and the Holder shall return the Note to the Company for cancellation.

 

 

 

 

    	 	3	 

     

    

 

Article V.

 

Section V.01     Adjustments and Limits on Conversion

 

(a)       Adjustment
of Conversion Price upon Subdivision or Combination of Common Stock. If the Company at any time after the date of issuance
of this Note subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding
shares of Common Stock into a greater number of shares, the Conversion Price in effect immediately prior to such subdivision will
be proportionately reduced. If the Company at any time after the date of issuance of this Note combines (by combination, reverse
stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Conversion
Price in effect immediately prior to such combination will be proportionately increased. Any adjustment under this Section 6.01(a)
shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

(b)       Distribution
of Assets. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its
assets) to holders of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of
cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement
or other similar transaction) (a “Distribution”), at any time after the issuance of this Note, then, in each
such case the Conversion Price in effect immediately prior to the close of business on the record date fixed for the determination
of holders of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such
record date, to a price determined by multiplying such Conversion Price by a fraction of which (A) the numerator shall be the closing
bid price of the Common Stock on the trading day immediately preceding such record date minus the value of the Distribution (as
determined in good faith by the Company’s Board of Directors) applicable to one share of Common Stock, and (B) the denominator
shall be the closing bid price of the Common Stock on the trading day immediately preceding such record date.

 

(c)       Conversion
Limitation. Notwithstanding anything contained herein to the contrary, the Holder shall not be entitled to convert pursuant
to the terms of the Note an amount that would be convertible into that number of shares of Common Stock which, when added to the
number of shares of Common Stock otherwise beneficially owned by such Holder would exceed 9.99% of the outstanding shares of Common
Stock of the Borrower at the time of conversion. For the purposes of the immediately preceding sentence, beneficial ownership shall
be determined in accordance with Section 13(d) of the Exchange Act and Regulation 13d-3 thereunder.

 

Article VI

 

Section VI.01     Notice. Notices
regarding this Note shall be sent to the parties at the following addresses, unless a party notifies the other parties, in writing,
of a change of address:

 

	If to the Company, to:	
        ProBility Media Corp.

        C/O Evan M. Levine

        Chief Executive Officer

        1517 San Jacinto Street

        Houston, Texas 77002

 

 

 

    	 	4	 

     

    

 

 

	If to the Holder:	
        Fred Verde Irrevocable Life Insurance Trust

        c/o Firsel Ross, LLC

        Philip E. Ruben, Trustee

        2801 Lakeside Drive

        Suite #207

        Bannockburn, IL 60015

 

Section VI.02     Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by
and construed and enforced in accordance with the internal laws of the State of Texas, without regard to the principles of conflicts
of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of Houston,
County of Harris (the “Harris County Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction
of the Harris County Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, or such Harris County Courts are improper or inconvenient venue for such proceeding. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy
thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect
for notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.
Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury
in any legal proceeding arising out of or relating to this Note or the transactions contemplated hereby. If either party shall
commence an action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or proceeding
shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding.

 

Section VI.03     Severability.
The invalidity of any of the provisions of this Note shall not invalidate or otherwise affect any of the other provisions of this
Note, which shall remain in full force and effect.

 

Section VI.04     Entire
Agreement and Amendments. This Note represents the entire agreement between the parties hereto with respect to the subject
matter hereof and there are no representations, warranties or commitments, except as set forth herein. This Note may be amended
only by an instrument in writing executed by the parties hereto.

 

[Remainder of Page Intentionally Left
Blank]

 

 

 

 

 

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IN WITNESS WHEREOF,
with the intent to be legally bound hereby, the Company as executed this Note as of the date first written above.

 

	 	ProBility Media Corp.
	 	 
	 	 
	 	By: /s/ Evan M. Levine                          
	 	Name:  Evan M. Levine
	 	Title:    Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	6	 

     

    

 

EXHIBIT A

 

NOTICE OF CONVERSION

 

(To be executed by the Holder in order to
convert the Note)

 

	TO: PROBILITY MEDIA CORP. 	 

 

The undersigned hereby
irrevocably elects to convert $___________ of the principal amount of the above Note into Shares of Common Stock of ProBility Media
Corp., according to the conditions stated therein, as of the Conversion Date written below.

 

	Conversion Date:	 
	Applicable Conversion Price:	 
	Signature:	 
	Name:	 
	Address:	 
	Amount to be converted:	$
	Amount of Note unconverted:	$
	Conversion Price: 	$
	Number of shares of Common Stock to be issued including as payment of interest, if applicable:	 
	Please issue the shares of Common Stock in the following name and to the following address:	 
	Issue to the following account of the Holder:	 
	Authorized Signature:	 
	Name:	 
	Title:	 
	Phone Number:	 
	Broker DTC Participant Code:	 
	Account Number:	 

 

 

 

 

    	 	7

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