Document:

Exhibit 10.131

 

CONVERTIBLE PROMISSORY NOTE

AND WARRANT PURCHASE AGREEMENT

 

THIS CONVERTIBLE PROMISSORY NOTE AND WARRANT
PURCHASE AGREEMENT is made as of January 24, 2014 by and between KED Consulting Group LLC, (the “Investor”) and VG
Life Sciences, Inc. (the "Company" or “VGLS”).

 

THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.Purchase and Sale of Notes.

 

1.1Purchase and Sale of Note. Subject
to the terms and conditions of this Agreement and pursuant to a promissory note in the form attached hereto as Exhibit A (the "Note"),
the Investor agrees to purchase at the Closing and the Company agrees to sell and issue to the Investor at the Closing a Note in
the principal amount of Two Hundred Seventy Thousand Dollars ($270,000 at a price equal to one hundred percent (100%) of the principal
amount thereof (the "Investment"). For clarification, there are two payment schedules. $170,000.00 will be made in six
(6) equal monthly installments of $28,333.33 beginning January 30, 2014 and ending June 30, 2014 by wire to VGLS. The remaining
$100,000 will be paid directly to Martin Eric Weisberg, 3 Powder Hill Road, Waccabuc New York 10597. Both the Note and the Warrant
(as defined in Section 1.2 below) include a cashless exercise feature enabling conversion into unregistered shares (“Shares”)
of common stock of VGLS based on the spread between the warrant exercise price and the then-trading value of the underlying VGLS
Shares. The Note is convertible into Shares at a conversion rate equal to the lowest three-day average closing price of the Shares
starting on July 16, 2013 and ending on September 15, 2013 (the “Period”), minus a ten percent (10%) discount. The
Note will be convertible into Shares in four equal tranches (25% each) on the following dates: December 15, 2014, March 15, 2015,
June 15, 2015, and September 15, 2015. The Note carries an eight percent (8%) per annum interest, is automatically converted into
Shares after the lapse of one year, and will not be prepayable at any time by VGLS.

 

1.2Purchase and Sale of Warrant.
Subject to the terms and conditions of this Agreement, the Investor agrees to purchase and the Company agrees to sell and issue
to the Investor at the Closing, a warrant in the form attached hereto as Exhibit B (the "Warrant") to purchase shares
of a series of the Company's Common Stock. In addition to the Notes, Investor will receive warrant coverage (“Warrants”)
for 1,080,000 Shares at $0.45 per Share, which includes a cashless exercise feature. The Warrants will be exercisable on any date
from and including the four-year anniversary of the date of this Agreement and the five-year anniversary thereof.

 

1.3Closing.

 

(a)The purchase and sale
of the Note and Warrant shall take place at the offices of Investor at 10:00 A.M. between January 1, 2014 and January 31, 2014,
or at such other time and place as the Company and the Investor may determine (the "Closing").

 

 

 

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(b)At the Closing, the Company shall
deliver to the Investor a Note representing the principal amount as is prescribed in Section 1.1 above and the Investor shall cause
to be delivered to the Company a wire transfer to the Company's order in the aggregate amount of the principal amount of the Investment
as is prescribed in Section 1.1 above.

 

2.Representations, Warranties,
and Covenants of the Company. The Company hereby represents and warrants to the Investor that:

 

2.1Organization, Good Standing
and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted and proposed to
be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure
to so qualify would have a material adverse effect on its business or properties.

 

2.2Authorization. All
corporate actions on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution
and delivery of this Agreement, the performance of all obligations of the Company hereunder and the authorization, issuance and
delivery of the Note and the Warrant have been taken or will be taken prior to the Closing. This Agreement constitutes, and the
Note and the Warrant when executed and delivered in accordance with their terms will constitute, valid and legally binding obligations
of the Company, enforceable in accordance with their respective terms except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, and other laws of general application affecting enforcement of creditors' rights generally, (ii) as
limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies and (iii)
as limited by applicable usury laws.

 

2.3Compliance with Other Instruments.
The Company is not in violation or default of any provisions of its Articles of Incorporation, as amended (the "Articles"),
or Bylaws (the "Bylaws"), or, except as set forth on Schedule 1 hereof, in any material respect of any provision of a
mortgage, indenture, agreement, instrument or contract to which it is a party or by which it is bound or of any federal or state
judgment order, writ or decree, or, to its knowledge, of any statute, rule or regulation applicable to the Company. The execution,
delivery and performance by the Company of this Agreement, and the consummation of the transactions contemplated hereby, including
the issuance and delivery of the Note and the Warrant, will not result in any such violation or be in material conflict with or
constitute, with or without the passage of time or giving of notice, either a material default under any such provision or an event
that results in the creation of any material lien, charge or encumbrance upon any assets of the Company or the suspension, revocation,
impairment, forfeiture, or nonrenewal of any material permit, license, authorization, or approval applicable to the Company, its
business or operations, or any of its assets or properties.

 

2.4Governmental Consents.
Based in part upon the representations and warranties of the Investor in Section 3, no consent, approval, order or authorization
of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority
on the part of the, Company is required in connection with the consummation of the transactions contemplated by this Agreement,
except such post-closing filings as may be required under applicable federal and state securities laws, which will be timely filed
within the applicable period therefor.

 

 

 

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2.5Sufficient Authorized Shares.
The number of authorized but unissued shares of the Company's Common Stock will be sufficient to permit conversion of the Note
and the exercise of the Warrant. From the date hereof, the Company shall at all times maintain a sufficient quantity of authorized
but unissued shares of Common Stock sufficient to permit conversion of the Note and the exercise of the Warrant. In the event the
Company, for any reason, no longer has a sufficient number of authorized but unissued shares to comply with this Section 2.5, it
shall use its best efforts to promptly authorize such shares. Upon the issuance of shares of Common Stock pursuant to the conversion
of the Note and/or the exercise of the Warrant, such shares of Common Stock shall be duly and validly issued, fully paid and nonassessable,
and issued in compliance with all applicable securities laws, as then in effect, of the United States and each of the states whose
securities laws govern the issuance of the Note and/or the Warrant pursuant to this Agreement and shall not be issued in violation
of any preemptive or similar right.

 

2.6No Brokers. No broker or finder
has acted directly or indirectly for the Company in connection with the transactions contemplated by this Agreement, and no broker
or finder is entitled to any brokerage, finder's or other fee or commission in respect thereof based in any way on agreements,
arrangements or understandings made by or on behalf of the Company and the Investor or the transactions contemplated hereby.

 

2.7Minute Books. The Company has
made available to the Investor (and will continue to make available up to the Closing) copies of the minute books of the Company.
The minute books contains records of all written actions and meetings of the Board of Directors and there have been no written
actions or meetings of the Board of Directors since the date of the last meeting in the minute books.

 

3.Representations and Warranties
of the Investor. The Investor represents and warrants severally and not jointly, with respect to the Investor, that:

 

3.1Authorization. The
Investor has full capacity, power and authority to enter into and perform this Agreement, and all actions necessary to authorize
the execution, delivery and performance of this Agreement have been taken prior to the Closing. This Agreement constitutes a valid
and legally binding obligation of the Investor, enforceable in accordance with its terms, except as the same may be limited by
bankruptcy, insolvency, moratorium, and other laws of general application affecting the enforcement of creditors' rights generally.

 

3.2Receipt of Information. The
Investor believes it, he or she has received all the information necessary or appropriate for deciding whether to acquire the Securities.
The Investor further represents that the Investor has had an opportunity to ask questions and receive answers from the Company
regarding the terms and conditions of the offering of the Securities.

 

 

 

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3.3Timely Payment. If
a monthly installment payment is more than five days late, a penalty for any Investor late payment will be $1,000 per day, provided
the Company is current in its financial filing obligations. Failure to pay within 10 days of the monthly due date (30th
of each month) will make all outstanding installment payments due immediately, provided the company is current in its financial
filing obligations.

 

3.4Investment Experience. The Investor
is an investor in securities of companies in the development stage and acknowledges that the Investor is able to fend for itself,
herself or himself, can bear the economic risk of its, his or her investment and has such knowledge and experience in financial
or business matters that the Investor is capable of evaluating the merits and risks of the investment in the Securities. If other
than an individual, the Investor also represents it has not been organized for the purpose of acquiring the Securities. The Investor
further represents that the information provided on Investor's counterpart signature page is true and accurate.

 

3.5Restricted Securities.
The Investor understands that the Securities are characterized as "restricted securities" under the federal securities
laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such
laws and applicable regulations such securities may be resold without registration under the Securities Act of 1933, as amended
(the "Securities Act") only in certain limited circumstances. In connection therewith, each lender represents that it
is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby
and by the Securities Act.

 

3.6Legends. To the extent applicable,
each certificate or other document evidencing any of the Securities shall be endorsed with the legend set forth below, and the
Investor covenants that, except to the extent such restrictions are waived by the Company, the Investor shall not transfer the
Securities represented by any such certificate without complying with the restrictions on transfer described in the legends endorsed
on such certificate:

 

"THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, OR HYPOTHECATED
ABSENT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT, OR UNLESS THE COMPANY
HAS RECEIVED AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED."

 

4.Conditions of Investor's
Obligations. The obligations of the Investor hereunder are subject to the fulfillment on or before the Closing of each of the
following conditions:

 

 

 

 

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4.1Representations and Warranties.
The representations and warranties of the Company contained in Section 2 shall be true on and as of the Closing with the same effect
as though such representations and warranties had been made on and as of the date of such Closing.

 

4.2Performance. The Company shall
have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by it on or before the Closing.

 

4.3Board Actions. The Company shall
have delivered to the Investor, within 10 business days upon receiving the notice of conversion, resolutions duly adopted by the
Company's Board of Directors and, to the extent required by applicable law or by the Company's Articles of Incorporation, the Company's
Shareholders, and certified by the Secretary of the Company (i) approving and authorizing the Company's execution and delivery
of this Agreement, the Note and the Warrant, and the Company's performance thereunder, and (ii) authorizing the reservation of
a sufficient number of shares of the Company's Common Stock to permit the conversion of the Note and to permit the exercise of
the Warrant.

 

5.Conditions of the Company's Obligations. The obligations of the Company with respect to the Investor under this Agreement
are subject to the fulfillment on or before the Closing of each of the following conditions:

 

5.1Representations and Warranties.
The representations and warranties of the Investor contained in Section 3 and on the Investor's signature page shall be true on
and as of the Closing with the same effect as though such representations and warranties had been made on and as of the Closing.

 

5.2Delivery of Principal. The Investor
shall have delivered the principal amount of the Investor's Investment as is prescribed in Section 1.1.

 

6.Post-Closing Covenant of Company. During such times as the Note is outstanding, the Company shall provide the Investor
with a reasonable updates of the Company's actual and forecasted cash position and of any reasonably significant development related
to the Company or its business. Such weekly updates shall be transmitted to the Investor via facsimile or via e-mail, at a facsimile
number or e-mail address provided by the Investor.

 

7.Events
of Default.

 

Upon the occurrence of any of the
following specified events (each an "Event of Default"), unless such Event of Default shall have been waived or cured
prior to the exercise of the remedies set forth below:

 

7.1Payments. Any default by the
Company in the payment when due of any principal and unpaid accrued interest under any Note if such default is not cured by the
Company within ten (10) days after the holder of such Note has given the Company written notice of such default;

 

 

 

 

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7.2Representations and Warranties.
Any representation or warranty made by the Company herein shall prove to have been incorrect in any material respect on or as of
the date made and remains unremedied for a period of thirty (30) days after any Investor provides the Company with written notice
of such breach;

 

7.3Post Closing Covenants.
The failure of Company to satisfy any of the post-closing covenants set forth in Section 6 hereof within the time-periods set forth
therein.

 

7.4Institution of Bankruptcy Proceedings.
The institution by the Company of proceedings to be adjudicated as bankrupt or insolvent, or the consent by it to institution of
bankruptcy or insolvency proceedings against it or the filing by it of a petition or answer or consent seeking reorganization or
release under the federal Bankruptcy Act, or any other applicable federal or state law, or the consent by it to the filing of any
such petition or the appointment of a receiver, liquidator, assignee, trustee, or other similar official, of the Company, or of
any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the taking of corporate
action by the Company in furtherance of any such action; or

 

7.5Continuation of Bankruptcy
Proceedings. If, within thirty (30) days after the commencement of an action against the Company (and service of process in
connection therewith on the Company) seeking any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar relief
under any present or future statute, law or regulation, such action shall not have been resolved in favor of the Company or all
orders or proceedings thereunder affecting the operations or the business of the Company stayed, or if the stay of any such order
or proceeding shall thereafter be set aside, or if, within thirty (30) days after the appointment without the consent or acquiescence
of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the
Company, such appointment shall not have been vacated;

 

Then, and in any such event, and at any time thereafter,
if any events shall be continuing, the Investor shall have the option to declare the principal amount of the Note, and all accrued
but unpaid interest thereon, to be immediately due and payable upon written notice to the Company.

 

8.Miscellaneous.

 

8.1Successors and Assigns. Except
as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties (including transferees of any securities). Nothing in this Agreement, express
or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

8.2Governing Law. This
Agreement shall be governed by and construed under the laws of the State of California, without giving effect to principles of
conflict of laws.

 

 

 

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8.3Counterparts. This Agreement may be executed
in two or more

 

counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

 

8.4Titles and Subtitles. The titles and subtitles
used in this Agreement are

 

used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

8.5Notices. Unless otherwise provided, any
notice required or permitted

 

under this Agreement shall be given in writing and
shall be deemed effectively given upon personal delivery to the party to be notified or four (4) days after deposit with the United
States Post Office, by registered or certified mail, postage prepaid and addressed to the party to be notified at the address indicated
for such party on the signature page hereof, or at such other address as such party may designate by advance written notice to
the other parties.

 

8.6Finder's Fee. Each party represents that
it neither is nor will be

 

obligated for any finders' fee or commission in connection with
this transaction.

 

8.7Entire Agreement. This Agreement and the
other documents delivered

 

pursuant hereto constitute the entire agreement among
the parties and no party shall be liable or bound to any other party in any manner by any warranties, representations, or covenants
except as specifically set forth herein or therein.

 

8.8Amendment and Waiver. Any term of this
Agreement may be

 

amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent
of the Company and the Investor. This provision shall not affect the amendment and waiver provisions of the Note. Any waiver or
amendment effected in accordance with this section shall be binding upon each holder of any Securities purchased under this Agreement
at the time outstanding, each future holder of all such Securities, and the Company.

 

8.9Severability. If one or more provisions
of this Agreement are held to

 

be unenforceable under applicable law, such provision shall
be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and
shall be enforceable in accordance with its terms.

 

8.10 Survival. The representations,
warranties, covenants and agreements made herein shall survive the Closing for a period of 12 months.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

 

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IN WITNESS
WHEREOF, the parties have executed this Agreement as of the date first above written.

 

VG Life Sciences, Inc.

 

 

By: /s/ John P. Tynan               

Name: John P. Tynan

Title: President & CEO

 

 

 

KED Consulting Group LLC

 

 

By: /s/ Ken Kopf                      

Name: Ken Kopf

 

 

 

 

 

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EXHIBIT A

 

CONVERTIBLE
PROMISSORY NOTE

 

SEE ATTACHED.

 

 

 

 

 

 

 

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EXHIBIT B

 

WARRANT TO PURCHASE COMMON STOCK

 

SEE ATTACHED.

 

 

 

 

 

 

 

 

 

    	10Exhibit 10.132

  

THE SECURITIES REPRESENTED BY THIS INSTRUMENT
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 UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE UNDER THE SECURITIES ACT OF 1933 (THE "SECURITIES ACT").

 

CONVERTIBLE DEBENTURE

 

	$5,000.00	Effective as of January 31, 2014

 

For value received, VG LIFE SCIENCES Inc.,
(formerly Viral Genetics, Inc.) a Delaware corporation (the "Company"), promises to pay to the order of JTL Enterprises
Corp., 1107 38th Avenue, Seattle, WA 98122 (the "Holder"), a New York corporation, the principal sum of FIVE
THOUSAND DOLLARS AND NO CENTS or the aggregate outstanding principal amount hereof, whichever is less (the “Principal”),
represents an obligation for certain services rendered pursuant to a Consulting Services Agreement dated February 11, 2014 between
the parties which remain unpaid (as per Schedule A) rendered by the Holder to the Company in the month of January 2014, and to
pay interest on the outstanding principal amount of this Convertible Debenture (this "Debenture") as provided herein.

 

1.            
Definitions. The following terms shall have the definitions set forth in this Section 1:

 

		(a)	"Business Day" means any day on which banks are open for business in both the State of
California and the State of New York.

 

		(b)	"Common Stock" means the Company's common stock, par value $0.0001 per Share, post-split
shares.

 

		(c)	"Conversion Price" shall be $0.10 per Share.

 

		(d)	"Shares" means shares of Common Stock.

 

		(e)	"Trading Day" means a calendar day on which the Shares are quoted for trading on the
Trading Market.

 

		(f)	"Trading Market" means the following markets or exchanges on which the Shares are listed
or quoted for trading on the date in question: The Over The Counter Bulletin Board, the PinkSheets, OTCPink , the Nasdaq SmallCap
Market, the American Stock Exchange, the New York Stock Exchange, the Nasdaq National Market, the Toronto Stock Exchange, the TSX
Venture Exchange, or any other securities exchange registered with the United States Securities and Exchange Commission.

 

2.            
Services.
Services rendered by the Holder to the Company evidenced by this Debenture, shall be set forth on aforementioned Consulting Services
Agreement.

 

 

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3.            
Interest. Interest on the outstanding Principal amount of this Debenture will accrue at a rate equal to one percent
(1%) per annum from the date of end of each month of Monthly Services as set forth on Schedule A. Interest will be computed on
the basis of a year of 12 months, each having 30 days, and will be paid on the Maturity Date and upon any permitted prepayment
of this Debenture.

 

4.            
Repayment. The Company shall pay the Principal amount of this Debenture, together with all accrued and unpaid interest,
to the Holder on February 1, 2015 (the "Maturity Date").

 

5.            
Payment. All payments due under this Debenture shall be made in either the lawful money of the United States of America
or in Shares, as determined by the Company in its discretion in accordance with Section 5 hereof, without set-off, deduction, demand
or notice.

 

		(a)	Form of Payment. Five (5) business days prior to the Maturity Date, the Company, at its
sole discretion, shall notify the Holder whether the payment due on the Maturity Date shall be made in cash or in Shares.

 

		(b)	Payment in Cash. All payments in cash shall be made to the Holder by check or by wire transfer
to such bank as the Holder may advise the Company in writing.

 

		(c)	Payment in Shares. The number of Shares issuable upon a payment being made in Shares shall
be calculated by dividing the aggregate amount due on the Maturity Date by the Conversion Price. No fractional Shares will be issued
upon conversion of this Debenture or a payment by the Company in Shares. In lieu of any fractional Share to which the Holder would
otherwise be entitled upon a payment in Shares, the Company will pay to the Holder in cash the amount of the unpaid or unconverted
Principal and interest balance of this Debenture that would otherwise be paid or converted into such fractional Share. Shares issued
hereunder shall be transmitted by the transfer agent of the Company to the Holder either by crediting the account of the Holder's
designated broker with the Depository Trust Company through its Deposit Withdrawal Agent Commission ("DWAC"), or, if
so elected by Holder, by physical delivery of certificates to Holder's address within five (5) Trading Days from the Due Date.
If the Company fails for any reason to deliver to the Holder the Shares by the requisite delivery date, the Company shall pay to
the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Shares not timely delivered, $5 per Trading
Day (increasing to $10 per Trading Day on the fifteenth (15) Trading Day after such liquidated damages begin to accrue) for each
Trading Day after such requisite delivery date until such Shares are delivered. In addition to any other rights available to the
Holder, if the Company fails to cause its transfer agent to deliver to the Holder the Shares on or before the requisite delivery
date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise), or
the Holder's brokerage firm otherwise purchases, Shares to deliver in satisfaction of a sale by the Holder of the Shares which
the Holder anticipated receiving pursuant to this Debenture (a "Buy-In"), then the Company shall (1) pay in cash to the
Holder the amount by which (x) the Holder's total purchase price (including brokerage commissions, if any) for the Shares so purchased
exceeds (y) the amount obtained by multiplying (A) the number of Shares that the Company was required to deliver to the Holder
multiplied by (B) the price at which the sell order giving rise to such purchase obligation was executed, and (2) deliver to the
Holder the number of Shares that would have been issued had the Company timely complied with its exercise and delivery obligations
hereunder. For example, if the Holder purchases Shares having a total purchase price of $11,000 to cover a Buy-In with an aggregate
sale price giving rise to such purchase obligation of $10,000, under clause (1) of the immediately preceding sentence the Company
shall be required to pay the Holder $ 1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, commercially reasonable evidence of the amount of such
loss.

 

 

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		(d)	Adjustments. If the Company, at any time while this Debenture is outstanding subdivides
outstanding Shares into a larger number of shares or combines (including by way of reverse stock split) outstanding Shares into
a smaller number of shares, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number
of Shares outstanding immediately before such event and of which the denominator shall be the number of Shares outstanding immediately
after such event.

 

6.            
Prepayment. This Debenture may not be prepaid by the Company without the prior written consent of the Holder, except
as provided in Section 7 of this Debenture.

 

7.            
Conversion. At any time prior to five (5) business days prior to the Maturity Date, all or any portion of the Principal
amount of this Debenture, together will accrued interest thereon, may be converted at the option of the Holder, at any time and
from time to time, in the minimum principal amount of $5,000 and integral multiples of $1,000 thereafter, upon not less than two
(2) three (3) Business Days after the Company's receipt of the Conversion Notice (as hereinafter defined) from the Holder and payment
in full of the Conversion Price as then in effect. Each "Conversion Notice" shall mean a written notice from the Holder
informing the Company of the date of the conversion, the principal amount of this Debenture being converted, the number of shares
of Common Stock to be received upon conversion and confirming that the Conversion Price will be paid in cash. The Conversion Price
shall be paid by certified check or by wire transfer of immediately available funds to a bank account designated by the Company
in writing. Within three (3) Business Days after payment of the Conversion Price, the Company will deliver a certificate for the
shares of Common Stock issued upon conversion to the Holder, or at the Holder’s request, to a brokerage account for the benefit
of Holder. The Company shall at all times reserve for issuance a number of shares of Common Stock sufficient to satisfy the conversion
feature of this Debenture. The number of shares of Common Stock issuable upon the conversion of all or a portion of this Debenture
shall be equal to the Principal amount of this Debenture being converted divided by the Conversion Price. For purposes hereof,
any partial conversion of this Debenture, each Loan shall be considered separate and distinct indebtedness of the Company to the
Holder for purposes of determining the holding period of each item of indebtedness represented by the Loan. Notwithstanding anything
set forth herein, in no event shall the Holder be entitled to convert for a number of shares of Common Stock in excess of that
number of shares of Common Stock which, upon giving effect to such conversion, would cause the aggregate number of shares of Common
Stock beneficially owned by the Holder and its affiliates to exceed 9.99% of the outstanding shares of the Common Stock following
such conversion. Notwithstanding receipt of a Conversion Notice, the Company shall have the right to prepay this Debenture in the
amount being converted if the principal amount to be converted together with accrued interest thereon is paid in immediately available
funds within one (1) business day after the date of the

 

 

 

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8.              
Seniority. The indebtedness represented by this Debenture is and shall be an obligation of the Company ranking senior
in right of payment, liquidation and otherwise to any future indebtedness and other obligations of the Company. The Company will
not create any indebtedness that is senior in priority to the indebtedness represented by this Debenture.

 

9.              
Default. Any one of the following occurrences shall constitute an "Event of Default" under this Debenture:

 

(a)            failure of Company to pay any amount that it payable under this Debenture on the Due Date, provided that such failure is
not cured within a grace period of ten (10) calendar days; or

 

(b)            failure to comply with or perform any other agreement or covenant of the Company contained herein, which failure does not
otherwise constitute an Event of Default, provided that such failure has not been cured within thirty (30) calendar days written
notice by Holder to the Company; or

 

(c)            there shall occur any default or event of default, any similar event, any event that requires the prepayment of borrowed
money or permits the acceleration of the maturity thereof, or any event or condition that might become any of the foregoing with
notice or the passage of time or both, under the terms of any evidence of indebtedness or other agreement issued or assumed or
entered into by the Company, or under the terms of any document or instrument under which any such evidence of indebtedness or
other agreement is issued, assumed, secured, or guaranteed, and such event shall continue beyond any applicable notice, grace or
cure period, provided that such condition shall not have been cured within thirty (30) calendar days of notice by Holder; or

 

(d)            the Company shall fail to maintain its existence in good standing in its state of incorporation; provided that such
condition shall not have been cured within thirty (30) calendar days of notice by Holder; or

 

(e)            a judgment or settlement shall be entered or agreed to in any proceeding which would reasonably be expected to have a material
and adverse effect on the ability of the Company to repay this Debenture; or any garnishment, summons, writ of attachment, citation,
levy or the like is issued against or served upon Holder for the attachment of any property of the Company in Holder’s possession
or control, provided that such condition shall not have been cured within thirty (30) calendar days of notice by Holder of such
condition; or

 

 

 

 

    	4

    	 

    

 

(f)            
any Share issued pursuant to this Debenture shall not be duly authorized, validly issued, fully paid or nonassessable, provided
that such condition shall not have been cured within ninety (90) calendar days of notice by Holder of such condition; or

 

(g)           
the Company shake make a voluntary filing for bankruptcy under Title 11, Chapter 7 of the United States Code; or

 

(h)           
there shall be appointed a receiver or trustee to take possession of the property or assets of the Company under Title 11,
Chapter 7 of the United States Code.

 

10.           
Remedies. Upon the occurrence and during the continuance of an Event of Default, this Debenture and shall become immediately
due in full, and unpaid amounts hereunder will accrue interest at the rate equal to the stated rate plus 5.00% per annum, and Holder
may exercise any rights and remedies under this Debenture, any Transaction Document or other document or instrument and at law
or in equity. The time of payment of this Debenture is also subject to acceleration if an Event of Default occurs. Notwithstanding
the foregoing, the entire unpaid Principal sum of this Debenture, together with accrued and unpaid interest thereon, shall become
immediately due and payable upon any of the Events of Default set forth in this Debenture.

 

11.           
Transfer; Successors and Assigns. The terms and conditions of this Debenture shall inure to the benefit of and be binding
upon the respective successors and assigns of the parties. At the election of the Holder, but subject-to compliance with applicable
securities laws, this Debenture may be assigned or transferred by the Holder, in whole or in part, upon surrender of this Debenture,
duly endorsed, and accompanied by a duly executed written instrument of transfer in customary form, following which a new Debenture
for the same principal amount and interest will be issued to, and registered in the name of, the transferee. If less than the entire
amount of this Debenture is transferred or assigned, the Company will issue new Debentures to the transferee, in the amount transferred
or assigned, and to the Holder, in the remaining Principal amount hereof after the transfer or assignment. This Debenture shall
be binding upon and inure to the benefit of the Company and the Holder, their successors and permitted assigns and the transferees
of the Holder.

 

12.           
Governing Law. This Debenture and all acts and transactions pursuant hereto and the rights and obligations of the Company
and the Holder shall be governed, construed and interpreted in accordance with the laws of the State of California, without giving
effect to any of its principles of conflicts of law or choice of law principles which would result in the application of the laws
of another jurisdiction.

 

13.           
Notices. Any notice required or permitted by this Debenture shall be in writing and shall be deemed sufficient upon
receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile, or 96 hours after being deposited
in the U.S. mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified
at such party's address or facsimile number as set forth herein or as subsequently modified by written notice.

 

 

 

    	5

    	 

    

 

14.            Amendments
and Waivers. This Debenture may only be amended, modified or waived by a written instrument executed by the Company and the
Holder. Any amendment or waiver effected in accordance with this Section 14 shall be binding upon the Company, the Holder and
each transferee or permitted assigns of any Debenture.

 

15.            Loss of Debenture. Upon receipt by the Company of a customary representation by the Holder of the loss, theft, destruction
or mutilation of this Debenture or any Debenture exchanged for it, and a customary indemnity undertaking by the Holder (in case
of loss, theft or destruction) or surrender and cancellation of such Debenture {in the case of mutilation), the Company will make
and deliver in lieu of such Debenture a new Debenture of like tenor.

 

16.            Waiver of Presentment, etc. The Company hereby expressly waives presentment, demand for payment, dishonor, notice of
dishonor, protest, notice of protest and any other formality upon the occurrence of an Event of Default.

 

17.            Entire Understanding. This Debenture sets forth the entire understanding agreement of the Company and the Holder with
respect to the subject matter hereof and it supersedes all prior and/or contemporaneous understandings and agreements with respect
to such subject matter, all of which are merged herein, and it specifically amends and restates a Debenture dated this date in
the same principal amount hereof, which did not accurately reflect the understanding and agreement of the Company and the Holder.

 

18.            Costs and Fees. The Company agrees to pay all costs, expenses, including, without limitation, reasonable attorneys'
fees and disbursements, incurred by the Holder in endeavoring to collect any amounts payable hereunder (including, without limitation,
amounts payable in Shares) which are not paid when due or otherwise in enforcing any provision of this Debenture and any of the
rights and remedies of the Holder under this Debenture, at law or in equity.

 

[signature page follows]

 

 

 

 

 

 

    	6

    	 

    

 

IN WITNESS WHEREOF, this Debenture has
been executed by a duly authorized officer of the Company as of the date first written above.

 

	 	COMPANY
	 	 
	 	VG LIFE SCIENCES INC.
	 	(FORMERLY VIRAL GENETICS, INC.)
	 	 
	 	 
	 	By: /s/ John P. Tynan      

    John P. Tynan
	 	 President

 

 

 

 

 

    	7

    	 

    

 

NOTICE OF CONVERSION 

CONVETIBLE DEBENTURE

 

(Date)

 

VG Life Sciences Inc.

121 Gray Avenue

Santa Barbara, CA 93101

 

Dear Mr. Tynan,

 

JTL Enterprises Corp (JTL) is
the holder of a Convertible Debenture dated January 31, 2014 (the “Debenture”) in the amount of $5,000 made and issued
by VG Life Sciences Inc. (“VGLS”), a Delaware corporation in favor of JTL.

 

This letter shall constitute
notice to VGLS that JTL does hereby exercise its right to take payment of the outstanding principal amount of the Debenture, or
the amount of $____________, in shares of VGLS common stock at a price of $0.10 per share. This will leave the remainder of $__________,
still due and payable under this January 31, 2014 convertible debenture.

 

Please have the __________shares
issued in the names of Myron Landin (80% share) and Samuel Zemsky (20% share) in accordance with the terms and provisions of our
agreement. JTL is not and never has been a 5% of 10% holder of VGLS common stock.

 

Very truly yours,

 

/s/ Myron W. Landin           

Myron W. Landin

President

JTL Enterprises Corp.

1107 38th Avenue

Seattle, WA 98122

 

 

 

    	8

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