Document:

Exhibit 10.1

 

TERMINATION
AGREEMENT

 

This
Termination Agreement (this “Termination Agreement”), dated October 4, 2019 (such date the “Termination
Date”) is between Golden Developing Solutions, Inc., a Nevada corporation, (“Purchaser”)
and Infusionz, LLC, a Colorado limited liability company (“Seller”). Purchaser and Seller are individually
referred to as a “Party” and collectively as the “Parties.”

 

WHEREAS,
the Parties have entered into that certain Asset Purchase Agreement including all exhibits thereto, dated as of March 8, 2019
(the “APA”);

 

WHEREAS,
Section 2.2(a) of the APA entitled “Additional Compensation for Seller[,]” provides that:

 

During
the term in which there is a balance owed on the Note, and if Purchaser fails to make payment on the Note, Seller will have, at
its discretion, the option to retain all monies collected from previous payments (including any previous sales of a portion or
the entire amount of shares received as Stock Consideration) and retain stock options, however Seller will return the Stock Consideration,
and the Purchaser shall then transfer all the equity of the Subsidiary (in the event the Subsidiary’s operations solely
relate to the Assets) or shall return the Assets (in the event the Subsidiary’s operations do not solely relate to the Assets)
to the Seller, thereby unwinding the transaction contemplated by this APA. This option will allow Seller to reassume control equivalent
to the pre-transaction structure in the event Purchaser defaults on the payment of the Note[;]

 

WHEREAS,
Purchaser has failed to make a payment on the Original Note (as defined under Section 3.1.1(b) below), and Seller has provided
the requisite notice and otherwise met the requirements of notice;

 

WHEREAS,
Seller desires to exercise its option pursuant to Section 2.2(a) of the APA; and the Parties hereto desire to terminate
the APA on the terms and subject to the conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the premises set forth above and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

ARTICLE
1 Definitions.

 

Capitalized
terms used and not defined in this Termination Agreement have the respective meanings assigned to them in the APA.

 

ARTICLE
2 Termination of the APA.

 

Subject
to the terms and conditions of this Termination Agreement, the term of the APA is hereby terminated as of the date on which
all the conditions under Section 2.2(a) of the APA have been met (the “Termination Date”).
From and after the Termination Date, the APA will be of no further force or effect, and the rights and obligations of each of
the Parties thereunder shall terminate, except that (a) any rights and obligations of the Parties that are expressly
designated under Section 2.2 and Section 12(b) of the APA will survive the termination of the APA; and (b) any
other rights and obligations of the Parties that come into being or effect upon the termination of the APA, subject to the
terms and conditions of this Termination Agreement.

 

     

     

    

 

ARTICLE
3 Certain Rights and Obligations.

 

3.1 As material consideration for
the covenants, agreements, and undertakings of the Parties under this Termination Agreement:

 

 3.1.1 Contemporaneously with the execution of this Termination Agreement, Seller will:

 

(a)
return the Stock Consideration in the amount of $2,600,000 worth of shares when granted pursuant to Section 2.1(a)(i)
of the APA; via the people listed on Schedule A hereto returning the number of shares of purchaser listed next to their
names;

 

(b)
release Purchaser from that certain promissory note dated March 8, 2019 for a principal amount of $2,400,000, attached hereto
as Exhibit A (“Original Note”), pursuant to Section 2.1(a)(iii) of the APA, and
subject to Section 3.1.1(c) and Section 3.1.2(c) below;

 

(c)
retain all monies collected from previous payments by the Purchaser (i.e. received by Infusionz, LLC), including the first installment
of $100,000 for June 2019 under the Original Note;

 

(d)
execute an assignment and assumption agreement for the Material Contracts (as defined under Section 4(e) of the APA), in
the form attached hereto as Exhibit B (“Assignment and Assumption of the Material Contracts”);
and

 

(e)
have Nathan Weinberg and Joe Reid (members of Seller) waive their Stock Options (as defined under Schedule B of
their respective employment agreements, attached hereto as Exhibit C, and which for the avoidance of doubt, were
never issued);

 

(f)
cause Nathan Weinberg to resign as CEO of CBD Infusionz, LLC, a Colorado limited liability company (the “Subsidiary”)
and Joe Reid to resign as COO of the Subsidiary;

 

(g)
terminate the broker agreement with Platform Brokerage discussed in Section 4(m) of the APA; and

 

3.1.2
Contemporaneously with the execution of this Termination Agreement, Purchaser will:

 

(a)
deliver an unsecured promissory note to and in the name of Seller in the principal amount of $25,000 in the form of Exhibit
D attached hereto (“Second Note”), which shall accrue interest at a rate of 3% per annum and
shall be due and payable on December 31, 2019, pursuant to Section 2.1(a)(ii) of the APA for amount outstanding on the
$300,000 cash payment due under Section 2.1(a)(ii) of the APA. As of the date of this Termination Agreement, Purchaser
has paid $122,030 of the $300,000 cash payment owed to the Subsidiary under Section 2.1(a)(ii).

 

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(b)
transfer all of the Assets free and clear of any and all Liens (as defined under Section 1(a) of the APA and
specifically including any additional assets and inventory purchased by CBD Infusionz, LLC prior to the Termination Date
(collectively the “Assets” listed on Schedule 1 attached hereto)), whether such
Assets are owned by Purchaser or the Subsidiary, dissolve the Subsidiary in the Secretary of State of Colorado, and execute
an assignment and bill of sale for the Assets for the benefit of Seller, in the form attached hereto as Exhibit
E (“Assignment and Bill of Sale of the Assets”). Purchaser represents and warrants that the
Assets are free and clear of all Liens, and indemnifies Seller against liabilities associated with the Assets prior to the
date of this Termination Agreement;

 

(c)
deliver an unsecured promissory note to and in the name of Seller in the principal amount of $25,000 in the form of Exhibit
F attached hereto, which shall accrue interest at a rate of 3% per annum and shall be due and payable on December 31,
2019 (“Third Note”). Purchaser will provide the Third Note to Seller for the outstanding monthly installments
of $100,000 that Purchaser owes for July 2019, August 2019, and September 2019 under the Original Note and pursuant to Section
2.1(a)(iii) of the APA. As of the date of this Termination Agreement, Purchaser has made one monthly installment of $100,000
under the Original Note for June 2019;

 

(d)
terminate those certain employment agreements of Nathan Weinberg and Joe Reid, attached hereto as Exhibit C, without
penalty;

 

(e)
pay Mr. Weinberg accrued and unpaid Base Salary (as defined in the employment agreement) through today’s date of $ , accrued
and unpaid vacation time through today’s date of $ , and unreimbursed expenses through today’s date of $ ____, for a
total amount owed by the Parent to the undersigned of $ ____;

 

(f)
pay Mr. Reid accrued and unpaid Base Salary (as defined in the employment agreement) through today’s date of $ , accrued
and unpaid vacation time through today’s date of $ , and unreimbursed expenses through today’s date of $ , for a total
amount owed by the Parent to the undersigned of $ ;

 

(g)
represent and warrant that none of the Stock Options were issued and indemnify Seller against any and all liabilities associated
with the issuance of the Stock Options;

 

(h)
communicate with the transfer agent within the year 2019 to revise share ownership reflected in this Termination Agreement;

 

(i)
to the extent under Purchaser’s control, remove any reference to present ownership or affiliation with Seller in all
written, online, web-based, and social media platforms;

 

 (j) execute the Assignment and Assumption Agreement of the Material Contracts; and

 

(k)
transfer and assign to Seller the leases for the following three properties (pursuant to the assignment of leases forms
attached hereto as Exhibit G):

 

		(i)	Denver,
                                         CO 80219;

 

		(ii)	Denver,
                                         CO 80204; and

 

		(iii)	Lakewood,
                                         CO 80226.

 

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3.2
Contemporaneously with the execution of this Termination Agreement, each Party shall execute and deliver to the other Party
all of the forms attached hereto as Exhibits.

 

3.3 Purchaser
may be required by Securities and Exchange Commission (the “Commission”) filing requirements to
conduct audits of the financial statements of Seller for fiscal years 2018 and 2017 and to file unaudited or pro forma
financial statements for fiscal year 2019 with regard to Seller. If such an audit is required, for the six (6) months
following the Termination Date, Seller agrees to provide reasonable assistance and cooperation, at Purchaser’s sole
cost and expense, to the auditors selected by Purchaser in providing to them as promptly as reasonably practicable upon their
request, the following (which is just a sample and not exclusive):

 

		(a)	Bank
                                         statements and bank reconciliations;

 

		(b)	Copies
                                         of invoices to customers selected by the auditors (anticipated to be approximately 75-100
                                         per year), copies of evidence of payment received and supporting documentation;

 

		(c)	Copies
                                         of invoices from vendors selected by the auditors (anticipated to be approximately 75-100
                                         per year), copies of evidence of payments made and supporting documentation;

 

		(d)	Copies
                                         of all promissory notes payable to Seller, copies of evidence of funds received, including
                                         bank statements, by Seller;

 

		(e)	Copies
                                         of all lease agreements and subsequent renewals;

 

		(f)	Information
                                         relating to Federal, state, local, including evidence of payments submitted monthly,
                                         quarterly or annually, and regarding the calculation for any accrued and or deferred
                                         taxes; and

 

		(g)	Requests
                                         for onsite visit/ audits, including making Seller staff available to discuss the procedures
                                         and controls in place and provide any information requested relating thereto.

 

ARTICLE
4 Mutual Release.

 

4.1 In
consideration of the covenants, agreements and undertakings of the Parties under this Termination Agreement, each Party, on
behalf of itself and its respective present and former parents, subsidiaries, affiliates, officers, directors, shareholders,
members, successors and assigns (collectively, “Releasors”) hereby releases, waives and forever
discharges the other Party and its respective present and former, direct and indirect, parents, subsidiaries, affiliates,
employees, officers, directors, shareholders, members, agents, representatives, permitted successors and permitted assigns
(collectively, “Releasees”) of and from any and all actions, causes of action, suits, losses,
liabilities, rights, debts, dues, sums of money, accounts, reckonings, obligations, costs, expenses, liens, bonds, bills,
specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents,
executions, claims, and demands, of every kind and nature whatsoever, whether now known or unknown, foreseen or unforeseen,
matured or unmatured, suspected or unsuspected, in law, admiralty or equity
(collectively, “Claims”), which any of such Releasors ever had, now have, or hereafter can, shall,
or may have against any of such Releasees for, upon, or by reason of any matter, cause, or thing whatsoever from the
beginning of time through the date of this Termination Agreement arising out of or relating to the APA, except for any Claims
relating to rights and obligations preserved by, created by or otherwise arising out of this Termination
Agreement.

 

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4.2 Each
Party, on behalf of itself and each of its respective Releasors, understands that it may later discover Claims or facts that
may be different than, or in addition to, those that it or any other Releasor now knows or believes to exist regarding the
subject matter of the release contained in this ARTICLE 4, and which, if known at the time of signing this Termination
Agreement, may have materially affected this Termination Agreement and such Party’s decision to enter into it and grant
the release contained in this ARTICLE 4. Nevertheless, the Releasors intend to fully, finally and forever settle and release
all Claims that now exist, may exist or previously existed, as set forth in the release contained in this ARTICLE 4, whether
known or unknown, foreseen or unforeseen, or suspected or unsuspected, and the release given herein is and will remain in
effect as a complete release, notwithstanding the discovery or existence of such additional or different facts. The Releasors
hereby waive any right or Claim that might arise as a result of such different or additional Claims or facts.

 

ARTICLE
5 Representations and Warranties.

 

5.1 Each Party hereby represents and warrants to the
other Party that:

 

5.1.1
It has the full right, power and authority to enter into this Termination Agreement and to perform its obligations hereunder.

 

5.1.2
The execution of this Termination Agreement by the individual whose signature is set forth at the end of this Termination Agreement
on behalf of such Party, and the delivery of this Termination Agreement by such Party, have been duly authorized by all necessary
action on the part of such Party.

 

5.1.3
This Termination Agreement has been executed and delivered by such Party and (assuming due authorization, execution, and delivery
by the other Party hereto) constitutes the legal, valid and binding obligation of such Party, enforceable against such Party in
accordance with its terms.

 

5.1.4
It (i) knows of no Claims against the other Party relating to or arising out of the APA that are not covered by the release contained
in ARTICLE 4 and (ii) has neither assigned nor transferred any of the Claims released herein to any person or entity and no person
or entity has subrogated to or has any interest or rights in any Claims.

 

5.2 EXCEPT
FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH IN THE APA, SECTION 3.1.2(e) AND THIS ARTICLE 5 OF THIS
TERMINATION AGREEMENT, (A) NEITHER PARTY HERETO NOR ANY PERSON ON SUCH PARTY’S BEHALF HAS MADE OR MAKES ANY EXPRESS OR IMPLIED
REPRESENTATION OR WARRANTY WHATSOEVER, EITHER ORAL OR WRITTEN, WHETHER ARISING BY LAW, COURSE OF DEALING, COURSE OF PERFORMANCE,
USAGE OF TRADE OR OTHERWISE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED, AND (B) EACH PARTY HERETO ACKNOWLEDGES THAT, IN ENTERING INTO
THIS TERMINATION AGREEMENT, IT HAS NOT RELIED UPON ANY REPRESENTATION OR WARRANTY MADE BY THE OTHER PARTY, OR ANY OTHER PERSON
ON SUCH OTHER PARTY’S BEHALF, EXCEPT AS SPECIFICALLY PROVIDED IN THIS ARTICLE 5.

 

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ARTICLE
6 Mutual Indemnification.

 

6.1 Each
Party (as “Indemnifying Party”) shall defend, indemnify and hold harmless the other Party, and its
owners, members, attorneys, officers, directors, employees, agents, affiliates, permitted successors and permitted assigns
(collectively, “Indemnified Party”), against any and all losses, damages, liabilities,
deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs, or expenses of whatever
kind, including attorneys’ fees, Termination Fees (hereinafter defined), fees and the costs of enforcing any right to
indemnification under this Termination Agreement and the cost of pursuing any insurance providers, and also including all
liabilities associated with the Assets while owned by Purchaser (in the case of Purchaser as the Indemnifying Party) or
liabilities associated with the Assets caused by the unauthorized actions of the members of the Seller (in the case of Seller
as the Indemnifying Party), audits and penalties by any taxing authority (i.e. IRS) regarding inaccurate taxes paid by the
legally responsible party with respect to the Assets, any documents signed by Purchaser on behalf of CBD Infusionz, LLC (in
the case of Purchaser as the Indemnifying Party), or any of the foregoing incurred by an Indemnified Party and awarded
against an Indemnified Party in any judgment (collectively, “Losses”), arising out or resulting
from:

 

6.1.1
any claim of a third party or Party alleging: (i) material breach by Indemnifying Party or its employees, consultants or other
personnel of any representation, warranty, covenant or other obligations set forth in this Termination Agreement; or (ii) negligence
or more culpable act or omission of an Indemnifying Party or its employees, consultants or other personnel (including any recklessness
or willful misconduct) in connection with the performance of its obligations under this Termination Agreement; and

 

6.1.2
any claim which would be covered by an insurance policy or policies pursuant to Section 6.4 (in the case of Purchaser as the Indemnifying
Party) or insurance held by the Seller (in the case of Seller as the Indemnifying Party) were such insurance policies in place
if not in place, and if in place, any claim which exceeds coverage of such respective policy (the remainder of which if not paid
shall be added to the principal balance of the Second Note if not expired, or a new note in substantially the same form as the
Second Note) (in the case of Purchaser as the Indemnifying Party) or a new note to be negotiated between the Parties (in the case
of Seller as the Indemnifying Party).

 

6.2 Notwithstanding
anything to the contrary in this Termination Agreement, the Indemnifying Party is not obligated to indemnify, defend or hold
harmless the Indemnified Party against any Losses arising out of or resulting from an Indemnified Party’s: (i) willful
acts or omissions; or (ii) bad faith failure to materially comply with any of its obligations set forth in this Termination
Agreement.

 

6.3 An
Indemnified Party seeking indemnification under this ARTICLE 6 shall give the Indemnifying Party: (i) prompt Notice (as
defined below) of the relevant claim; provided, however, that failure to provide such Notice shall not relieve the
Indemnifying Party from its liability or obligation hereunder except to the extent of any material prejudice directly
resulting from such failure; and (ii) reasonable cooperation, at the Indemnifying Party’s expense, in the defense of
such claim. The Indemnifying Party shall have the right to control the defense and settlement of any such claim; provided,
however, that the Indemnifying Party shall not, without the prior written approval of the Indemnified Party, settle or
dispose of any claims in a manner that affects the Indemnified Party’s rights or interests. The Indemnified Party shall
have the right to participate in the defense at its own expense.

 

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6.4 Purchaser
shall, at its own expense, maintain and carry in full force and effect, at least the following types and amounts of
insurance coverage covering the Seller, Nate Weinberg, and Joe Reid (collectively the “Insured
Parties”) from the Effective Date (defined in the APA as March 8, 2019) until the Termination Date with a tail
coverage extending as applicable to the expiration of all applicable statutes of limitation for any claims covered by any of
the following policies:

 

6.4.1
Commercial general liability with limits no less than $1,000,000 for each occurrence and $1,000,000 in the aggregate, including
bodily injury and property damage and products and completed operations and advertising liability, which policy will include contractual
liability coverage insuring the activities of Insured Parties for events occurring up to and including the Termination Date, regardless
of when such claims are discovered or brought;

 

6.5 Purchaser
shall, at its own expense, use commercially reasonable efforts to attain, maintain and carry in full force and effect, at
least the following types and amounts of insurance coverage covering the Insured Parties from the Effective Date (defined in
the APA as March 8, 2019) until the Termination Date with a tail coverage extending as applicable to the expiration of all
applicable statutes of limitation for any claims covered by any of the following policies:

 

6.5.1
Products liability with limits no less than $1,000,000 for each occurrence and $2,000,000 in the aggregate, including injury and
products and completed operations and advertising liability, which policy will include contractual liability coverage insuring
all activities of Insured Parties for events occurring up to and including the Termination Date, regardless of when such claims
are discovered or brought;

 

6.5.2
Errors & omissions with limits no less than $1,000,000 for each occurrence and $2,000,000 in the aggregate, which policy will
include liability coverage insuring all activities of Insured Parties for events occurring up to and including the Termination
Date, regardless of when such claims are discovered or brought; and

 

6.5.3
Directors and officers with limits no less than $1,000,000 for each occurrence and $2,000,000 in the aggregate, which policy will
include liability coverage insuring all activities of Insured Parties for events occurring up to and including the Termination
Date, regardless of when such claims are discovered or brought; and

 

6.5.4
Umbrella (excess) liability for the coverages in this ARTICLE 6, with limits no less than $5,000,000, which policy will include
liability coverage insuring all activities of Insured Parties for events occurring up to and including the Termination Date, regardless
of when such claims are discovered or brought.

 

6.6 Payments
by Indemnifying Party under this ARTICLE 6 in respect of any Losses are limited to the amount of any liability or damage
that remains after deducting therefrom any insurance proceeds and any indemnity, contribution, or other similar payment
actually received by Indemnified Party in respect of any such indemnity claim, less any related costs and expenses, including
the aggregate cost of pursuing any related insurance claims and any related increases in insurance premiums or other
charge-backs. Indemnified Party shall use its best efforts to seek to recover any insurance proceeds in connection with
making a claim under this ARTICLE 6. Promptly after the realization of any insurance proceeds, indemnity, contribution, or
other similar payment, Indemnified Party shall reimburse Indemnifying Party for such reduction in Losses for which
Indemnified Party was paid under this Termination Agreement.

 

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ARTICLE
7 Confidentiality.

 

7.1 Subject
to the terms and conditions of Section 9.1, each Party acknowledges the confidential nature of the terms and
conditions of this Termination Agreement (collectively, the “Confidential Information”) and agrees
that it shall not (a) disclose any of such Confidential Information to any person or entity, except to such Party’s
affiliates, employees, advisors and other representatives who need to know the Confidential Information to assist such Party,
or act on its behalf, to exercise its rights or perform its obligations under this Termination Agreement, or (b) use the
Confidential Information, or permit it to be accessed or used, for any purpose other than to exercise its rights or perform
its obligations under this Termination Agreement. Each Party shall be responsible for any breach of this ARTICLE 7 caused by
any of its affiliates, employees, advisors, or other representatives. Notwithstanding the foregoing, if any Confidential
Information is permissibly disclosed pursuant to Section 9.1, such information will no longer be deemed
“Confidential Information” for the purposes of this ARTICLE 7.

ARTICLE
8 Transaction Restriction.

 

8.1 Seller
shall not for a period of three months subsequent to the Termination Date consummate a transaction with a company publicly
listed on an exchange for the sale of all or substantially all of its equity and/or assets.

 

ARTICLE
9 Publicity and Announcements.

 

9.1 Neither
Party shall (orally or in writing) publicly disclose or issue any press release or make any other public statement,
or otherwise communicate with the media, concerning the existence of this Termination Agreement or the subject matter
hereof, without the prior written approval of the other Party (which shall not be unreasonably withheld or delayed), except
to the extent that such Party (based upon the reasonable advice of counsel) is required to make any public disclosure or
filing with respect to the subject matter of this Termination Agreement (i) by applicable law, or (ii) pursuant to any rules
or regulations of any securities exchange or marketplace of which the securities of such party or any of its affiliates
are listed or traded or (iii) in connection with enforcing its rights under this Termination Agreement.

 

9.2 Neither
Party shall make, publish or communicate to any person or entity or in any public forum any comments or statements (written
or oral) that intentionally seek to denigrate or disparage, or are detrimental to, the reputation or stature of the other
Party or its businesses, or any of its employees, directors and officers, and existing and prospective customers, suppliers,
investors and other associated third parties.

 

ARTICLE
10 Miscellaneous.

 

10.1 Each
of the Parties hereto shall, and shall cause its respective affiliates to, from time to time at the request and sole expense
of the other Party, without any additional consideration, furnish the other Party such further information or assurances;
execute and deliver such additional documents, instruments, and conveyances; and take such other actions and do such other
things, as may be necessary or appropriate to the requesting Party to carry out the provisions of this Termination Agreement
and each of the other documents and give effect to the transactions contemplated hereby and thereby, including without
limitation any accounting issues and tax returns.

 

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10.2 All
notices, requests, consents, claims, demands, waivers, summons and other legal process, and other similar types of
communications hereunder (each, a “Notice”) must be in writing and addressed to the relevant Party
at the address that may be designated by the receiving Party from time to time in accordance with this Section 10.1.
All Notices must be delivered by personal delivery, nationally recognized overnight courier (with all fees pre-paid), or
certified or registered mail (in each case, return receipt requested, postage prepaid). A Notice is effective only (i) upon
receipt by the receiving Party and (ii) if the Party giving the Notice has complied with the requirements of this Section 10.1.

 

10.3 Purchaser
shall pay all fees and expenses of the Seller associated with unwinding the APA, the APA, and this Termination Agreement,
including all attorneys’ fees and accountants’ fees associated with unwinding the APA, the APA, and this
Termination Agreement (including exhibits attached hereto), and any other costs, fees, and expenses of Seller associated with
unwinding the APA, the APA, and this Termination Agreement (“Termination Fees”). Purchaser agrees
to reserve $10,000 on its books and records for each of the years 2019 and 2020 in anticipation of associated Termination
Fees, which such Termination Fees shall be remitted to Seller within 5 days of Seller’s written request. Any
Termination Fees owed but unpaid will be added to the outstanding principal balance of the Second Note if not expired, or a
new note in substantially the same form as the Second Note.

 

10.4 This
Termination Agreement and all related documents, including all exhibits attached hereto, and all matters arising out of or
relating to this Termination Agreement, whether sounding in contract, tort, or statute are governed by, and construed in
accordance with, the laws of the State of Colorado, without giving effect to the conflict of laws provisions thereof to the
extent such principles or rules would require or permit the application of the laws of any jurisdiction other than those of
the State of Colorado.

 

10.5 The
state or federal courts of Colorado located in the City of Denver shall be the exclusive forums for litigation concerning
this Termination Agreement. All parties to this Termination Agreement consent to personal jurisdiction in such courts as well
as service of process by notice sent by regular mail to the last known address of each Party or by any means authorized by
Colorado law.

 

10.6 This
Termination Agreement and each of the terms and provisions hereof may only be amended, modified, waived or supplemented by
an agreement in writing signed by each Party.

 

10.7 Neither
Party may assign, transfer or delegate any or all of its rights or obligations under this Termination Agreement without the
prior written consent of the other party; provided, however, that either Party may assign this Termination Agreement to an
affiliate, a successor-in- interest by consolidation, merger or operation of law or to a purchaser of all or substantially
all of the Party’s assets. No assignment will relieve the assigning party of any of its obligations hereunder. Any
attempted assignment, transfer or other conveyance in violation of the foregoing will be null and void. This Termination
Agreement will inure to the benefit of and be binding upon each of the Parties and each of their respective permitted
successors and permitted assigns.

 

10.8 This
Termination Agreement may be executed in counterparts, each of which is deemed an original, but all of which constitutes one
and the same agreement. Delivery of an executed counterpart of this Termination Agreement electronically or by facsimile
shall be effective as delivery of an original executed counterpart of this Termination Agreement.

 

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10.9 For
purposes of this Termination Agreement, (i) the words “include,” “includes” and
“including” are deemed to be followed by the words “without limitation”; (ii) the word
“or” is not exclusive; (iii) the words “herein,” “hereof,” “hereby,”
“hereto” and “hereunder” refer to this Termination Agreement as a whole; (iv) words denoting the
singular have a comparable meaning when used in the plural, and vice-versa; and (v) words denoting any gender include all
genders. The Parties drafted this Termination Agreement without regard to any presumption or rule requiring construction or
interpretation against the party drafting an instrument or causing any instrument to be drafted.

 

10.10 The
headings in this Termination Agreement are for reference only and do not affect the interpretation of this Termination
Agreement.

 

10.11 If
any term or provision of this Termination Agreement is invalid, illegal or unenforceable in any jurisdiction, such
invalidity, illegality or unenforceability shall not affect any other term or provision of this Termination Agreement or
invalidate or render unenforceable such term or provision in any other jurisdiction; provided, however, that if any
fundamental term or provision of this Termination Agreement), is invalid, illegal or unenforceable, the remainder of this
agreement shall be unenforceable. Upon such determination that any term or other provision is invalid, illegal or
unenforceable, the parties hereto shall negotiate in good faith to modify this Termination Agreement so as to effect the
original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest extent possible.

 

10.12 Each
of the Parties shall, and shall cause its respective affiliates to, from time to time at the request and sole expense of the
other Party, without any additional consideration, furnish the other Party such further information or assurances, execute
and deliver such additional documents, instruments and conveyances, and take such other actions and do such other things, as
may be necessary or desirable in the opinion of counsel to the requesting party to carry out the provisions of this
Termination Agreement and give effect to the transactions contemplated hereby and thereby.

 

10.13 Each
Party acknowledges and agrees that (i) a breach or threatened breach by such party of any of its obligations under this
Termination Agreement would give rise to irreparable harm to the other party for which monetary damages would not be an
adequate remedy and (ii) in the event of a breach or a threatened breach by such Party of any such obligations, the other
Party will, in addition to any and all other rights and remedies that may be available to such party at law, in equity or
otherwise in respect of such breach, be entitled to equitable relief, including a temporary restraining order, an injunction,
specific performance and any other relief that may be available from a court of competent jurisdiction, without any
requirement to post a bond or other security, and without any requirement to prove actual damages or that monetary damages
will not afford an adequate remedy. Each Party agrees that it shall not oppose or otherwise challenge the appropriateness of
equitable relief or the entry by a court of competent jurisdiction of an order granting equitable relief, in either case,
consistent with the terms of this Section 10.13.

 

10.14 This
Termination Agreement constitutes the sole and entire agreement between the Parties with respect to the subject matter
contained herein and supersedes all prior and contemporaneous understandings, agreements, representations and warranties,
both written and oral, with respect to such subject matter.

 

[signature
page follows]

 

    10

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Termination Agreement on the date first written above.

 

SELLER:

 

INFUSIONZ, LLC

 

	By:		 
	Name:	Nate Weinberg	 
	Title:	CEO	 

 

PURCHASER:

 

GOLDEN
DEVELOPING SOLUTIONS, INC.

 

	By:	/s/ Stavros Triant	 
	Name:	 Stavros Triant	 
	Title:	CEO	 

 

    11

     

    

 

EXHIBIT
A (ORIGINAL NOTE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    12

     

    

 

EXHIBIT
B (ASSIGNMENT AND ASSUMPTION OF THE MATERIAL CONTRACTS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    13

     

    

 

EXHIBIT
C (EMPLOYMENT AGREEMENTS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    14

     

    

 

EXHIBIT
D (SECOND NOTE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    15

     

    

 

EXHIBIT
E (ASSIGNMENT AND BILL OF SALE OF THE ASSETS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    16

     

    

 

EXHIBIT
F (THIRD NOTE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    17

     

    

 

EXHIBIT
G (ASSIGNMENT OF LEASES)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    18

     

    

 

 

SCHEDULE
1 (LIST OF ASSETS AND ALL AFTER-ACQUIRED ASSETS UP TO THE TERMINATION DATE OF INFUSIONZ, 

LLC AND CBD INFUSIONZ, LLC)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    19

     

    

 

Schedule
A (List of Shareholders Returning Shares of Golden Developing Solutions Back to Company)

 

	Shareholder	Number
    of Shares
	Nathan
    Weinberg	83,560,174
	Joseph
    Reed	19,282,438
	Green
    Rush Network LLC	14,283,287
	Jeremy
    Kamlet	8,996,998
	Jonathan
    Hoenig	8,996,998
	Spencer
    Beagle	4,417,511
	Alexander
    Leder	2,570,992
	Seth
    Eiken	2,570,992
	Keane
    Tsu	2,570,992

 

    20

     

    

 

ASSIGNMENT
AND ASSUMPTION AGREEMENT

 

THIS
ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Assignment”) is entered into effective as of October 4, 2019,
by and between Infusionz, LLC, a Colorado limited liability company (“Seller”), and Golden Developing
Solutions, Inc., a Nevada corporation (“Purchaser”).

 

RECITALS

 

WHEREAS,
Seller and Purchaser entered into that certain Asset Purchase Agreement dated March 8, 2019 (the “APA”).
The APA provided for the purchase by Purchaser from Seller of the Assets (as defined under Section 1(a) of the APA) and
the assignment to and the assumption by Purchaser of the Material Contracts (as defined under Section 4(e) of the APA and
as set forth on Schedule 1 attached hereto). Unless otherwise defined herein, capitalized terms used herein shall have
the meanings given such terms in the APA.

 

WHEREAS,
Purchaser defaulted on payments on the Note (as defined under Section 2.1(a)(iii) of the APA) and Seller exercised its
option pursuant to Section 2.2(a) of the APA to unwind the transactions contemplated by the APA by entering into that certain
Termination Agreement dated October 4, 2019 (“Termination Agreement”) with Purchaser;

 

WHEREAS,
pursuant to Section 3.1.1(d) of the Termination Agreement, the Parties will execute an assignment and assumption agreement
for the Martial Contracts.

 

AGREEMENT

 

 1. Assignment and Assumption. Purchaser hereby assigns the Material Contracts to Seller, and Seller hereby assumes and agrees to perform or otherwise carry out all of Purchaser’s obligations with respect to the Material Contracts. Purchaser agrees to indemnify and hold harmless Seller from any liability accruing from such Material Contracts before the date of this Assignment and Seller agrees to indemnify and hold harmless Purchaser from any liability accruing from such Material Contracts following the date of this Assignment. Notwithstanding the foregoing, Seller shall not assume, or become liable to pay, perform or discharge any liability for any Material Contract (unless Seller affirmatively elects otherwise in writing):

 

(i)
where Purchaser is in default prior to the date of this Assignment; (ii) where the consent or approval of any person is required
for Purchaser to assign or Seller to assume such Material Contract and such consent or approval is not obtained or waived in writing
by Seller before the date of this Assignment; or (iii) where any notice to any person is required for Purchaser to assign or Seller
to assume such Material Contract and such notice is not provided to such person or waived in writing by Seller before the date
hereof.

 

 2. No Additional Liability. Nothing contained in this Assignment will be deemed to in any way shift liability from Purchaser to Seller for any Asset or Assets, where the liability occurred prior to the transfer of the Assets to Seller and such liability has not been expressly assumed by Seller.

 

3. Right
to Assign. Purchaser represents and warrants that Purchaser may legally and validly assign the Material Contracts to
Seller without penalty or default or otherwise without violating or breaching any of Purchaser’s rights or
obligations with regards to the Material Contracts.

 

    21

     

    

 

4.
Notices. Purchaser agrees that in the event that Purchaser receives any notices or demands in connection with the Material
Contracts, including, without limitation, any notices of default or breach, it shall immediately deliver a copy of any such notices
to Seller at such address as Seller shall furnish to Purchaser from time to time in accordance with the terms of the Termination
Agreement.

 

5. Further
Assurances. Each party will take all steps reasonably necessary to carry out the intent of the Termination Agreement and
this Assignment in order to effectively assign the Material Contracts, including, but not limited to, by executing and
delivering, or causing to be executed and delivered, such further instruments or documents of assignment, or by taking such
other actions as may be reasonably requested by the other party.

 

6. Independent
Covenants. This Assignment is subject in all respects to the terms and conditions of the Termination Agreement. Nothing
contained in this Assignment shall be deemed to diminish any of the obligations, agreements, covenants, representations or
warranties of the parties contained in the Termination Agreement.

 

7.
Counterparts. This Assignment may be executed in counterparts, each of which shall be deemed an original,
and all of which when affixed together shall constitute but one and the same instrument. Manual signatures exchanged
electronically by facsimile or email shall be deemed original signatures for all purposes.

 

 8. Recitals. The recitals above are incorporated by reference into this Assignment.

 

9. Amendment
and Governing Law. This Assignment shall be governed in all respects by the laws of the state of Colorado (without
regards to the conflict of law principles thereof). No change in or amendment to this Assignment shall be valid unless set
forth in a writing signed by both parties to this Assignment. THE PARTIES ACKNOWLEDGE THAT (A) COLORADO HAS PASSED AMENDMENTS
TO THE COLORADO CONSTITUTION AND ENACTED CERTAIN LEGISLATION TO GOVERN THE CANNABIS INDUSTRY AND (B) THE POSSESSION, SALE,
MANUFACTURE, AND CULTIVATION OF CANNABIS IS ILLEGAL UNDER FEDERAL LAW. THE PARTIES WAIVE ANY DEFENSES BASED UPON INVALIDITY
OF CONTRACTS FOR PUBLIC POLICY REASONS AND/OR THE SUBSTANCE OF THE CONTRACT VIOLATING FEDERAL LAW.

 

[signature
page follows.]

 

    22

     

    

 

IN
WITNESS WHEREOF, this Assignment and Assumption Agreement is entered into effective as of the date first above written.

 

SELLER:

 

INFUSIONZ, LLC

 

	By:		 
	Name:	Nate Weinberg	 
	Title:	CEO	 

 

PURCHASER:

 

GOLDEN
DEVELOPING SOLUTIONS, INC.

 

	By:	/s/ Stavros Triant	 
	Name: 	 Stavros Triant	 
	Title:	CEO	 

 

    23

     

    

 

SCHEDULE 1

TO ASSIGNMENT AND ASSUMPTION

AGREEMENT
(MATERIAL CONTRACTS)

[TO BE LISTED]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    24

     

    

 

ASSIGNMENT AND BILL OF SALE

 

THIS
ASSIGNMENT AND BILL OF SALE (this “Assignment and Bill of Sale”) is entered into effective as of October
4, 2019, by and between Golden Developing Solutions, Inc., a Nevada corporation (“Purchaser”) for the
benefit of Infusionz, LLC, a Colorado limited liability company (“Seller”).

 

RECITALS

 

WHEREAS,
Seller and Purchaser entered into an Asset Purchase Agreement dated March 8, 2019 2019 (the “APA”). The
APA provides for the purchase by Purchaser from Seller of the “Assets” (as defined under
Section 1(a) of the APA), which includes the assets set forth on Schedule 1 attached hereto. Unless otherwise defined herein,
capitalized terms used herein shall have the meanings given such terms in the APA.

 

WHEREAS,
Purchaser defaulted on payments on the Note (as defined under Section 2.1(a)(iii) of the APA) and Seller exercised its option
pursuant to Section 2.2(a) of the APA to unwind the transactions contemplated by the APA by entering into that certain Termination
Agreement dated October 4, 2019 (“Termination Agreement”) with Purchaser;

 

WHEREAS,
pursuant to Section 3.1.2(b) of the Termination Agreement, Purchaser will execute an assignment and bill of sale for the
Assets for the benefit of Seller.

 

AGREEMENT

 

Purchaser hereby warrants, covenants and agrees as
follows:

 

1. Assignment.
In accordance with the terms and conditions of the APA, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, Purchaser does hereby sell, transfer, convey, assign and deliver unto Seller, its successors
and assigns, all of the Assets, including, without limitation, all of the Assets set forth on Schedule 1
attached hereto, free and clear of any and all options, liens, security interests, encumbrances, mortgages, deeds of trust,
liabilities, financing statements, pledges, charges, conditions, equitable claims, covenants, title defects, restrictions or
claims of any kind, nature or description whatsoever (collectively, “Liens”), to have and to hold
said Assets unto Seller, its successors and assigns, to and for its and/or their use forever.

 

2. Title.
Purchaser has good and marketable title to the Assets hereby sold, transferred, conveyed, assigned and delivered to Seller, free
and clear of all Liens, and Seller will receive hereby such good and marketable title thereto.

 

3. Warranty.
Purchaser warrants and will defend the sale, transfer, conveyance, assignment and conveyance of the Assets hereunder against
each and every person or persons claiming against any or all of the same. 

 

    25

     

    

 

4. Further
Assurances. Purchaser will take all steps necessary to put Seller or its successors and assigns in actual possession and operating
control of the Assets, to carry out the intent of the APA and this Assignment and Bill of Sale, or to more effectively sell, transfer,
convey, assign and reduce to possession and record to title any of the Assets, including by executing and delivering, or causing
to be executed and delivered, such further instruments or documents of transfer, assignment and conveyance, or by taking such other
actions as may be requested by Seller.

 

5. Independent
Covenants. This Assignment is subject in all respects to the terms and conditions of the Termination Agreement. Nothing contained
in this Assignment and Bill of Sale shall be deemed to diminish any of the obligations, agreements, covenants, representations,
or warranties of Purchaser contained in the APA.

 

7. Governing
Law; Amendment. This Assignment shall be governed in all respects by the laws of the state of Colorado (without regards
to the conflict of law principles thereof). Purchaser submits to the jurisdiction of the courts in and for the state of
Colorado. No change in or amendment to this Assignment shall be valid unless set forth in a writing signed by both Purchaser
and Seller. THE PARTIES ACKNOWLEDGE THAT (A) COLORADO HAS PASSED AMENDMENTS TO THE COLORADO CONSTITUTION AND ENACTED CERTAIN
LEGISLATION TO GOVERN THE CANNABIS INDUSTRY AND (B) THE POSSESSION, SALE, MANUFACTURE, AND CULTIVATION OF CANNABIS IS ILLEGAL
UNDER FEDERAL LAW. THE PARTIES WAIVE ANY DEFENSES BASED UPON INVALIDITY OF CONTRACTS FOR PUBLIC POLICY REASONS AND/OR THE
SUBSTANCE OF THE CONTRACT VIOLATING FEDERAL LAW.

 

8. Counterparts.
This Assignment may be executed in counterparts, each of which shall be deemed an original, and all of which when affixed
together shall constitute but one and the same instrument. Signatures exchanged by facsimile shall be deemed original
signatures for all purposes.

 

[signature page follows.]

 

    26

     

    

 

IN WITNESS WHEREOF, this
Assignment and Bill of Sale is entered into effective as of the date first above written.

 

	PURCHASER:	 
	 	 	 
	GOLDEN DEVELOPING SOLUTIONS, INC.	 
	 	 	 
	By:	/s/ Stavros Triant	 
	Name:	Stavros Triant	 
	Title:	CEO	 

  

    27

     

    

 

SCHEDULE
1

TO
ASSIGNMENT AND BILL OF SALE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    28

     

    

 

ASSIGNMENT
AND ASSUMPTION OF LEASES

 

This
ASSIGNMENT AND ASSUMPTION OF LEASES (this “Assignment of Leases”) is entered into effective as of October
4, 2019 by and between Golden Developing Solutions, Inc., a Nevada corporation (“Purchaser”), and Infusionz,
LLC, a Colorado limited liability company (“Seller”).

 

RECITALS

 

WHEREAS,
Seller and Purchaser entered into that certain Asset Purchase Agreement dated March 8, 2019 (the “APA”).
The APA provided for the purchase by Purchaser from Seller of the Assets (as defined under Section 1(a) of the APA) and
the assignment to and the assumption by Purchaser of the Material Contracts (as defined under Section 4(e) of the APA and
as set forth on Schedule 1 attached hereto). Unless otherwise defined herein, capitalized terms used herein shall have
the meanings given such terms in the APA.

 

WHEREAS,
Purchaser defaulted on payments on the Note (as defined under Section 2.1(a)(iii) of the APA) and Seller exercised its
option pursuant to Section 2.2(a) of the APA to unwind the transactions contemplated by the APA by entering into that certain
Termination Agreement dated October 4, 2019 (“Termination Agreement”) with Purchaser;

 

WHEREAS,
pursuant to Section 3.1.2(g) of the Termination Agreement, Purchaser will transfer and assign to Seller the leases for
the space at the real property Denver, CO 80204 (the “Property”).

 

AGREEMENT

 

		1.	For
good and valuable consideration, the receipt of which is hereby acknowledged, Purchaser hereby irrevocably assigns, transfers
and sets over to Seller all of Purchaser’s right, title and interest, as lessor, in and to those certain leases, license
agreements and other occupancy agreements (collectively, the “Leases”) in effect for space at the Property
and listed on Schedule A attached hereto and made a part hereof.

 

		2.	Seller
                                         hereby expressly assumes all of the obligations imposed upon the lessor under the Leases
                                         which accrue from and after the date hereof.

 

		3.	In
                                         the case of any Security Deposits in the form of letters of credit which by their terms
                                         are not transferable, Purchaser shall hold such non-transferable letters of credit in
                                         escrow for the benefit of Seller and, upon written request by Seller, shall draw down
                                         on any such letter of credit and, simultaneously therewith, shall deliver the proceeds
                                         of such draw-down to Seller.

 

		4.	Purchaser
                                         hereby agrees to indemnify and to hold Seller harmless from and against any and all loss,
                                         cost, liability, damage or expense, including without limitation, reasonable attorneys’
                                         fees, originating or relating to the period prior to the date hereof, and arising out
                                         of or with respect to the failure of Purchaser to have performed any of the obligations
                                         of the landlord under the Leases which accrued prior to the date hereof.

 

    29

     

    

 

		5.	This
Assignment of Leases is made by Purchaser without recourse and without any express or implied representation or warranty whatsoever.

 

		6.	This
Assignment of Leases may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed
an original for all purposes, and all such counterparts shall together constitute but one and the same instrument.

 

		7.	This
Assignment of Leases shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to
conflict of law rules.

 

		8.	This
Assignment of Leases and the obligations of the parties hereunder shall be binding upon and inure to the benefit of the parties
hereto and their respective legal representatives, successors and assigns.

 

		9.	No
modification, waiver, amendment, discharge or change of this Assignment of Leases shall be valid unless the same is in writing
and signed by the party against which the enforcement of such modification, waiver, amendment, discharge or change is or may be
sought.

 

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

 

	SELLER:
    INFUSIONZ, LLC	 
	

        

         
	 	 
	By:	 	 
	Name: 	Nate Weinberg
    	 
	Title:	CEO	 
	 	 	 
	PURCHASER:	 
	 	 	 
	GOLDEN
    DEVELOPING SOLUTIONS, INC.	 
	 	 	 
	By:	/s/
    Stavros Triant	 
	Name:	Stavros
    Triant	 
	Title:	CEO	 

  

    30

     

    

  

SCHEDULE
A 

THE
LEASES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    31

     

    

 

SCHEDULE
B 

LETTERS OF CREDIT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    32

     

    

 

ASSIGNMENT
AND ASSUMPTION OF LEASES

 

This
ASSIGNMENT AND ASSUMPTION OF LEASES (this “Assignment of Leases”) is entered into effective as of October
4, 2019 by and between Golden Developing Solutions, Inc., a Nevada corporation (“Purchaser”), and Infusionz,
LLC, a Colorado limited liability company (“Seller”).

 

RECITALS

 

WHEREAS,
Seller and Purchaser entered into that certain Asset Purchase Agreement dated March 8, 2019 (the “APA”).
The APA provided for the purchase by Purchaser from Seller of the Assets (as defined under Section 1(a) of the APA) and
the assignment to and the assumption by Purchaser of the Material Contracts (as defined under Section 4(e) of the APA and
as set forth on Schedule 1 attached hereto). Unless otherwise defined herein, capitalized terms used herein shall have
the meanings given such terms in the APA.

 

WHEREAS,
Purchaser defaulted on payments on the Note (as defined under Section 2.1(a)(iii) of the APA) and Seller exercised its
option pursuant to Section 2.2(a) of the APA to unwind the transactions contemplated by the APA by entering into that certain
Termination Agreement dated October 4, 2019 (“Termination Agreement”) with Purchaser;

 

WHEREAS,
pursuant to Section 3.1.2(g) of the Termination Agreement, Purchaser will transfer and assign to Seller the leases for
the space at the real property Lakewood, CO 80226 (the “Property”).

 

AGREEMENT

 

		1.	For
good and valuable consideration, the receipt of which is hereby acknowledged, Purchaser hereby irrevocably assigns, transfers
and sets over to Seller all of Purchaser’s right, title and interest, as lessor, in and to those certain leases, license
agreements and other occupancy agreements (collectively, the “Leases”) in effect for space at the Property
and listed on Schedule A attached hereto and made a part hereof.

 

		2.	Seller
hereby expressly assumes all of the obligations imposed upon the lessor under the Leases which accrue from and after the date
hereof.

 

		3.	In
the case of any Security Deposits in the form of letters of credit which by their terms are not transferable, Purchaser shall
hold such non-transferable letters of credit in escrow for the benefit of Seller and, upon written request by Seller, shall draw
down on any such letter of credit and, simultaneously therewith, shall deliver the proceeds of such draw-down to Seller.

 

		4.	Purchaser
hereby agrees to indemnify and to hold Seller harmless from and against any and all loss, cost, liability, damage or expense,
including without limitation, reasonable attorneys’ fees, originating or relating to the period prior to the date hereof,
and arising out of or with respect to the failure of Purchaser to have performed any of the obligations of the landlord under
the Leases which accrued prior to the date hereof.

 

    33

     

    

 

		5.	This
Assignment of Leases is made by Purchaser without recourse and without any express or implied representation or warranty whatsoever.

 

		6.	This
Assignment of Leases may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed
an original for all purposes, and all such counterparts shall together constitute but one and the same instrument.

 

		7.	This
Assignment of Leases shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to
conflict of law rules.

 

		8.	This
Assignment of Leases and the obligations of the parties hereunder shall be binding upon and inure to the benefit of the parties
hereto and their respective legal representatives, successors and assigns.

 

		9.	No
modification, waiver, amendment, discharge or change of this Assignment of Leases shall be valid unless the same is in writing
and signed by the party against which the enforcement of such modification, waiver, amendment, discharge or change is or may be
sought.

 

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

 

	SELLER:
    INFUSIONZ, LLC	 
	 	 	 
	By:	 	 
	Name: 	Nate
    Weinberg	 
	Title:	CEO	 
	 	 	 
	PURCHASER:	 
	 	 	 
	GOLDEN
    DEVELOPING SOLUTIONS, INC.	 
	 	 	 
	By:	/s/
    Stavros Triant	 
	Name:	Stavros
    Triant	 
	Title:	CEO	 

  

    34

     

    

 

SCHEDULE
A 

THE
LEASES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    35

     

    

 

SCHEDULE
B 

LETTERS OF CREDIT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    36

     

    

 

ASSIGNMENT
AND ASSUMPTION OF LEASES

 

This
ASSIGNMENT AND ASSUMPTION OF LEASES (this “Assignment of Leases”) is entered into effective as of October
4, 2019 by and between Golden Developing Solutions, Inc., a Nevada corporation (“Purchaser”), and Infusionz,
LLC, a Colorado limited liability company (“Seller”).

 

RECITALS

 

WHEREAS,
Seller and Purchaser entered into that certain Asset Purchase Agreement dated March 8, 2019 (the “APA”).
The APA provided for the purchase by Purchaser from Seller of the Assets (as defined under Section 1(a) of the APA) and
the assignment to and the assumption by Purchaser of the Material Contracts (as defined under Section 4(e) of the APA and
as set forth on Schedule 1 attached hereto). Unless otherwise defined herein, capitalized terms used herein shall have
the meanings given such terms in the APA.

 

WHEREAS,
Purchaser defaulted on payments on the Note (as defined under Section 2.1(a)(iii) of the APA) and Seller exercised its
option pursuant to Section 2.2(a) of the APA to unwind the transactions contemplated by the APA by entering into that certain
Termination Agreement dated October 4, 2019 (“Termination Agreement”) with Purchaser;

 

WHEREAS,
pursuant to Section 3.1.2(g) of the Termination Agreement, Purchaser will transfer and assign to Seller the leases for
the space at the real property Denver, CO 80219 (the “Property”).

 

AGREEMENT

 

		1.	For
good and valuable consideration, the receipt of which is hereby acknowledged, Purchaser hereby irrevocably assigns, transfers
and sets over to Seller all of Purchaser’s right, title and interest, as lessor, in and to those certain leases, license
agreements and other occupancy agreements (collectively, the “Leases”) in effect for space at the Property
and listed on Schedule A attached hereto and made a part hereof.

 

		2.	Seller
hereby expressly assumes all of the obligations imposed upon the lessor under the Leases which accrue from and after the date
hereof.

 

		3.	In
the case of any Security Deposits in the form of letters of credit which by their terms are not transferable, Purchaser shall
hold such non-transferable letters of credit in escrow for the benefit of Seller and, upon written request by Seller, shall draw
down on any such letter of credit and, simultaneously therewith, shall deliver the proceeds of such draw-down to Seller.

 

		4.	Purchaser
hereby agrees to indemnify and to hold Seller harmless from and against any and all loss, cost, liability, damage or expense,
including without limitation, reasonable attorneys’ fees, originating or relating to the period prior to the date hereof,
and arising out of or with respect to the failure of Purchaser to have performed any of the obligations of the landlord under
the Leases which accrued prior to the date hereof.

 

    37

     

    

 

		5.	This
Assignment of Leases is made by Purchaser without recourse and without any express or implied representation or warranty whatsoever.

 

		6.	This
Assignment of Leases may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed
an original for all purposes, and all such counterparts shall together constitute but one and the same instrument.

 

		7.	This
Assignment of Leases shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to
conflict of law rules.

 

		8.	This
Assignment of Leases and the obligations of the parties hereunder shall be binding upon and inure to the benefit of the parties
hereto and their respective legal representatives, successors and assigns.

 

		9.	No
modification, waiver, amendment, discharge or change of this Assignment of Leases shall be valid unless the same is in writing
and signed by the party against which the enforcement of such modification, waiver, amendment, discharge or change is or may be
sought.

  

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

 

	SELLER:	 
	 	 	 
	INFUSIONZ, LLC	 
	 	 	 
	By:	 	 
	Name: 	Nate
    Weinberg	 
	Title:	CEO	 
	 	 	 
	PURCHASER:	 
	 	 	 
	GOLDEN DEVELOPING SOLUTIONS, INC.	 
	 	 	 
	By:	/s/ Stavros
    Triant	 
	Name:	Stavros
    Triant	 
	Title:	CEO	 

 

    38

     

    

 

SCHEDULE
A 

THE
LEASES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    39

     

    

 

SCHEDULE
B 

LETTERS OF CREDIT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

40NEITHER
THE ISSUANCE NOR SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE 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 THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	Principal
    Amount: $108,000.00	Issue
    Date: October 3, 2019
	Purchase
    Price: $103,000.00	 
	Original
    Issue Discount: $5,000.00	 

 

CONVERTIBLE
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, PROPANC BIOPHARMA, INC., a Delaware corporation (hereinafter called the “Borrower”) (Trading
Symbol: PPCB), hereby promises to pay to the order of CROWN BRIDGE PARTNERS, LLC, a New York limited liability company,
or registered assigns (the “Holder”) the principal sum of $108,000.00 (the “Principal Amount”), together
with interest at the rate of ten percent (10%) per annum (with the understanding that the first twelve months of interest shall
be guaranteed), at maturity or upon acceleration or otherwise, as set forth herein (the “Note”). The maturity date
for the Note shall be twelve (12) months from the Issue Date (the “Maturity Date”), and is the date upon which the
principal sum, as well as any accrued and unpaid interest and other fees, shall be due and payable. This Note may not be prepaid
in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest on this Note, which is
not paid by the Maturity Date, shall bear interest at the rate of the lesser of (i) fifteen percent (15%) per annum or (ii) the
maximum amount permitted by law from the due date thereof until the same is paid (“Default Interest”). Interest shall
commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual
number of days elapsed. All payments due hereunder (to the extent not converted into the Borrower’s common stock (the “Common
Stock”) in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments
shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the
provisions of this Note. Whenever any amount expressed to be due by the terms of this Note is due on any day which is not a business
day, the same shall instead be due on the next succeeding day which is a business day and, in the case of any interest payment
date which is not the date on which this Note is paid in full, the extension of the due date thereof shall not be taken into account
for purposes of determining the amount of interest due on such date. As used in this Note, the term “business day”
shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the city of New York, New York are authorized
or required by law or executive order to remain closed.

 

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This
Note carries an original issue discount of $5,000.00 (the “OID”), to cover the Holder’s accounting fees, due
diligence fees, monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Note, which
is included in the principal balance of this Note. Thus, the purchase price of this Note shall be $103,000.00, computed as follows:
the Principal Amount minus the OID.

 

This
Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The
following additional terms shall apply to this Note:

 

ARTICLE
I. CONVERSION RIGHTS

 

1.1
Conversion Right. The Holder shall have the right at any time to convert all or any part of the outstanding and unpaid
principal amount and accrued and unpaid interest of this Note into fully paid and non-assessable shares of Common Stock, as such
Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common
Stock shall hereafter be changed or reclassified at the conversion price (the “Conversion Price”) determined as provided
herein (a “Conversion”); provided, however, that in no event shall the Holder be entitled to convert
any portion of this Note in excess of that portion of this Note upon conversion of which the sum of (1) the number of shares of
Common Stock beneficially owned by the Holder and its affiliates (other than shares of Common Stock which may be deemed beneficially
owned through the ownership of the unconverted portion of the Notes or the unexercised or unconverted portion of any other security
of the Borrower subject to a limitation on conversion or exercise analogous to the limitations contained herein) and (2) the number
of shares of Common Stock issuable upon the conversion of the portion of this Note with respect to which the determination of
this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding
shares of Common Stock. For purposes of the proviso to the immediately preceding sentence, beneficial ownership shall be determined
in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Regulations
13D-G thereunder, except as otherwise provided in clause (1) of such proviso. The number of shares of Common Stock to be issued
upon each conversion of this Note shall be determined by dividing the Conversion Amount (as defined below) by the applicable Conversion
Price then in effect on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the “Notice
of Conversion”), delivered to the Borrower or Borrower’s transfer agent by the Holder in accordance with Section 1.4
below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or reasonably
expected to result in, notice) to the Borrower or Borrower’s transfer agent before 11:59 p.m., New York, New York time on
such conversion date (the “Conversion Date”). The term “Conversion Amount” means, with respect to any
conversion of this Note, the sum of (1) the principal amount of this Note to be converted in such conversion plus (2) at
the Holder’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this
Note to the Conversion Date, plus (3) at the Holder’s option, Default Interest, if any, on the amounts referred to
in the immediately preceding clauses (1) and/or (2) plus (4) at the Holder’s option, any amounts owed to the Holder
pursuant to Sections 1.3 and 1.4(g) hereof.

 

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1.2
Conversion Price.

 

(a)
Calculation of Conversion Price. The Conversion Price shall equal the Variable Conversion Price (as defined herein) (subject
to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower’s
securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary
distributions and similar events) (also subject to adjustment as further described herein). The “Variable Conversion Price”
shall mean 60% multiplied by the Market Price (as defined herein) (representing a discount rate of 40%). “Market Price”
means the lowest one (1) Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day period ending on
the last complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date,
the lowest closing bid price on the Over-the-Counter Pink Marketplace, OTCQB, or applicable trading market (the “Principal
Market”) as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg)
or, if the Principal Market is not the principal trading market for such security, on the principal securities exchange or trading
market where such security is listed or traded or, if the lowest intraday trading price of such security is not available in any
of the foregoing manners, the lowest intraday price of any market makers for such security that are quoted on the OTC Markets.
If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall
be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted
for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading
Day” shall mean any day on which the Common Stock is tradable for any period on the Principal Market, or on the principal
securities exchange or other securities market on which the Common Stock is then being traded. In the event that shares of the
Borrower’s Common Stock are not deliverable via DWAC following the conversion of any amount hereunder, an additional ten
percent (10%) discount shall be factored into the Variable Conversion Price until this Note is no longer outstanding (resulting
in a discount rate of 50% assuming no other adjustments are triggered hereunder). Additionally, if the Borrower fails to comply
with the reporting requirements of the Exchange Act at any time while after the Issue Date, and/or the Borrower shall cease to
be subject to the reporting requirements of the Exchange Act, during such period of failure or delinquency, an additional ten
percent (10%) discount shall be factored into the Variable Conversion Price until this Note is no longer outstanding (resulting
in a discount rate of 55% assuming no other adjustments are triggered hereunder).

 

If
at any time the Conversion Price as determined hereunder for any conversion would be less than the par value of the Common Stock,
then at the sole discretion of the Holder, the Conversion Price hereunder may equal such par value for such conversion and the
Conversion Amount for such conversion may be increased to include Additional Principal, where “Additional Principal”
means such additional amount to be added to the Conversion Amount to the extent necessary to cause the number of conversion shares
issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price
not been adjusted by the Holder to the par value price.

 

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(b)
Authorized Shares. The Borrower covenants that during the period the conversion right exists, the Borrower will reserve
from its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance
of Common Stock upon the full conversion of this Note. The Borrower is required at all times to have authorized and reserved four
times the number of shares that is actually issuable upon full conversion of the Note (based on the Conversion Price of the Notes
in effect from time to time)(the “Reserved Amount”). The Reserved Amount shall be increased from time to time in accordance
with the Borrower’s obligations hereunder. The Borrower represents that upon issuance, such shares will be duly and validly
issued, fully paid and non-assessable. In addition, if the Borrower shall issue any securities or make any change to its capital
structure which would change the number of shares of Common Stock into which the Notes shall be convertible at the then current
Conversion Price, the Borrower shall at the same time make proper provision so that thereafter there shall be a sufficient number
of shares of Common Stock authorized and reserved, free from preemptive rights, for conversion of the outstanding Notes. The Borrower
(i) acknowledges that it has irrevocably instructed its transfer agent to issue certificates for the Common Stock issuable upon
conversion of this Note, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers and agents
who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common
Stock in accordance with the terms and conditions of this Note.

 

If,
at any time the Borrower does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of
the Note.

 

1.3
Method of Conversion.

 

(a) Mechanics
of Conversion. Subject to Section 1.1, this Note may be converted by the Holder in whole or in part at any time from time
to time after the Issue Date, by (A) submitting to the Borrower or Borrower’s transfer agent a Notice of Conversion (by
facsimile, e-mail or other reasonable means of communication dispatched on the Conversion Date prior to 11:59 p.m., New
York, New York time) and (B) subject to Section 1.4(b), surrendering this Note at the principal office of the
Borrower.

 

(b)
Surrender of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note
in accordance with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless
the entire unpaid principal amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the
principal amount so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the
Holder and the Borrower, so as not to require physical surrender of this Note upon each such conversion. In the event of any dispute
or discrepancy, such records of the Borrower shall, prima facie, be controlling and determinative in the absence of manifest
error. Notwithstanding the foregoing, if any portion of this Note is converted as aforesaid, the Holder may not transfer this
Note unless the Holder first physically surrenders this Note to the Borrower, whereupon the Borrower will forthwith issue and
deliver upon the order of the Holder a new Note of like tenor, registered as the Holder (upon payment by the Holder of any applicable
transfer taxes) may request, representing in the aggregate the remaining unpaid principal amount of this Note. The Holder and
any assignee, by acceptance of this Note, acknowledge and agree that, by reason of the provisions of this paragraph, following
conversion of a portion of this Note, the unpaid and unconverted principal amount of this Note represented by this Note may be
less than the amount stated on the face hereof.

 

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(c)
Payment of Taxes. The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of shares of Common Stock or other securities or property on conversion of this Note in a name other
than that of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such shares or other
securities or property unless and until the person or persons (other than the Holder or the custodian in whose street name such
shares are to be held for the Holder’s account) requesting the issuance thereof shall have paid to the Borrower the amount
of any such tax or shall have established to the satisfaction of the Borrower that such tax has been paid.

 

(d)
Delivery of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail
(or other reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in
this Section 1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder
certificates for the Common Stock issuable upon such conversion within two (2) business days after such receipt (the “Deadline”)
(and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with
the terms hereof.

 

(e)
Obligation of Borrower to Deliver Common Stock. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall
be deemed to be the holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the
amount of accrued and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults
on its obligations under this Article I, all rights with respect to the portion of this Note being so converted shall forthwith
terminate except the right to receive the Common Stock or other securities, cash or other assets, as herein provided, on such
conversion. If the Holder shall have given a Notice of Conversion as provided herein, the Borrower’s obligation to issue
and deliver the certificates for Common Stock shall be absolute and unconditional, irrespective of the absence of any action by
the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against
any person or any action to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower
to the holder of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by
the Holder of any obligation to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation
of the Borrower to the Holder in connection with such conversion. The Conversion Date specified in the Notice of Conversion shall
be the Conversion Date so long as the Notice of Conversion is sent to the Borrower or Borrower’s transfer agent before 11:59
p.m., New York, New York time, on such date.

 

(f)
Delivery of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock
issuable upon conversion, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated
Securities Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions contained
in Section 1.1 and in this Section 1.4, the Borrower shall use its best efforts to cause its transfer agent to electronically
transmit the Common Stock issuable upon conversion to the Holder by crediting the account of Holder’s Prime Broker with
DTC through its Deposit Withdrawal Agent Commission (“DWAC”) system.

 

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(g)
Failure to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder’s right to pursue other
remedies, including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon
conversion of this Note is not delivered by the Deadline (other than a failure due to the circumstances described in Section 1.3
above, which failure shall be governed by such Section) the Borrower shall pay to the Holder $2,000 per day in cash, for each
day beyond the Deadline that the Borrower fails to deliver such Common Stock. Such cash amount shall be paid to Holder by the
fifth day of the month following the month in which it has accrued or, at the option of the Holder (by written notice to the Borrower
by the first day of the month following the month in which it has accrued), shall be added to the principal amount of this Note,
in which event interest shall accrue thereon in accordance with the terms of this Note and such additional principal amount shall
be convertible into Common Stock in accordance with the terms of this Note. The Borrower agrees that the right to convert is a
valuable right to the Holder. The damages resulting from a failure, attempt to frustrate, interference with such conversion right
are difficult if not impossible to qualify. Accordingly the parties acknowledge that the liquidated damages provision contained
in this Section 1.4(g) are justified.

 

(h)
DTC; Market Loss. If the Borrower fails to maintain its status as “DTC Eligible” for any reason, or, if at
any time while this Note is outstanding the Conversion Price is equal to or lower than $0.10, then an additional twenty percent
(20%) discount shall be factored into the Variable Conversion Price until this Note is no longer outstanding (resulting in a discount
rate of 60%, assuming no other adjustments are triggered hereunder).

 

1.4
Concerning the Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred
unless (i) such shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer
agent shall have been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for
opinions of counsel in comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred
pursuant to an exemption from such registration or (iii) such shares are sold or transferred pursuant to Rule 144 under the Act
(or a successor rule) (“Rule 144”) or (iv) such shares are transferred to an “affiliate” (as defined in
Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance with this Section 1.5 and who
is an Accredited Investor. Except as otherwise provided (and subject to the removal provisions set forth below), until such time
as the shares of Common Stock issuable upon conversion of this Note have been registered under the Act or otherwise may be sold
pursuant to Rule 144 without any restriction as to the number of securities as of a particular date that can then be immediately
sold, each certificate for shares of Common Stock issuable upon conversion of this Note that has not been so included in an effective
registration statement or that has not been sold pursuant to an effective registration statement or an exemption that permits
removal of the legend, shall bear a legend substantially in the following form, as appropriate:

 

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“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE 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 THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Borrower shall issue to the Holder a new certificate therefore free of any transfer
legend if (i) the Borrower or its transfer agent shall have received an opinion of counsel, in form, substance and scope customary
for opinions of counsel in comparable transactions, to the effect that a public sale or transfer of such Common Stock may be made
without registration under the Act, which opinion shall be accepted by the Borrower so that the sale or transfer is effected or
(ii) in the case of the Common Stock issuable upon conversion of this Note, such security is registered for sale by the Holder
under an effective registration statement filed under the Act or otherwise may be sold pursuant to Rule 144 without any restriction
as to the number of securities as of a particular date that can then be immediately sold. In the event that the Borrower does
not accept the opinion of counsel provided by the Holder with respect to the transfer of Securities pursuant to an exemption from
registration, such as Rule 144 or Regulation S, at the Deadline, it will be considered an Event of Default pursuant to Section
3.2 of the Note.

 

1.5
Effect of Certain Events.

 

(a)
Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially
all of the assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which
more than 50% of the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of
the Borrower with or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall either: (i)
be deemed to be an Event of Default (as defined in this Note) pursuant to which the Borrower shall be required to pay to the Holder
upon the consummation of and as a condition to such transaction an amount equal to the Default Amount (as defined in this Note)
or (ii) be treated pursuant to Section 1.5(b) hereof. “Person” shall mean any individual, corporation, limited liability
company, partnership, association, trust or other entity or organization.

 

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(b)
Adjustment Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion
of all of the Notes, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other
similar event, as a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number
of shares of another class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance
of all or substantially all of the assets of the Borrower other than in connection with a plan of complete liquidation of the
Borrower, then the Holder of this Note shall thereafter have the right to receive upon conversion of this Note, upon the basis
and upon the terms and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable
upon conversion, such stock, securities or assets which the Holder would have been entitled to receive in such transaction had
this Note been converted in full immediately prior to such transaction (without regard to any limitations on conversion set forth
herein), and in any such case appropriate provisions shall be made with respect to the rights and interests of the Holder of this
Note to the end that the provisions hereof (including, without limitation, provisions for adjustment of the Conversion Price and
of the number of shares issuable upon conversion of the Note) shall thereafter be applicable, as nearly as may be practicable
in relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower shall not affect any transaction
described in this Section 1.5(b) unless (a) it first gives, to the extent practicable, thirty (30) days prior written notice (but
in any event at least fifteen (15) days prior written notice) of the record date of the special meeting of shareholders to approve,
or if there is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization
or other similar event or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b) the resulting
successor or acquiring entity (if not the Borrower) assumes by written instrument the obligations of this Section 1.5(b). The
above provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

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

 

(d)
[Intentionally Omitted].

 

(e) Purchase
Rights. If, at any time when any Notes are issued and outstanding, the Borrower issues any convertible securities or rights
to purchase stock, warrants, securities or other property (the “Purchase Rights”) pro rata to the record holders of
any class of Common Stock, then the Holder of this Note will be entitled to acquire, upon the terms applicable to such Purchase
Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares of Common
Stock acquirable upon complete conversion of this Note (without regard to any limitations on conversion contained herein) immediately
before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights or, if no such record is taken,
the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights.

 

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(f) Notice
of Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price as a result of the events described
in this Section 1.5, the Borrower, at the Borrower’s expense and at the option of the Holder, shall promptly compute such
adjustment or readjustment and prepare and furnish to the Holder a certificate setting forth such adjustment or readjustment and
showing in detail the facts upon which such adjustment or readjustment is based. The Borrower shall, upon the written request
at any time of the Holder, furnish to such Holder a like certificate setting forth (i) such adjustment or readjustment, (ii) the
Conversion Price at the time in effect and (iii) the number of shares of Common Stock and the amount, if any, of other securities
or property which at the time would be received upon conversion of the Note.

 

1.6
Status as Shareholder. Upon submission of a Notice of Conversion by a Holder, (i) the shares covered thereby (other than
the shares, if any, which cannot be issued because their issuance would exceed such Holder’s allocated portion of the Reserved
Amount or Maximum Share Amount) shall be deemed converted into shares of Common Stock and (ii) the Holder’s rights as a
Holder of such converted portion of this Note shall cease and terminate, excepting only the right to receive certificates for
such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because
of a failure by the Borrower to comply with the terms of this Note. Notwithstanding the foregoing, if a Holder has not received
certificates for all shares of Common Stock prior to the tenth (10th) business day after the expiration of the Deadline with respect
to a conversion of any portion of this Note for any reason, then (unless the Holder otherwise elects to retain its status as a
holder of Common Stock by so notifying the Borrower) the Holder shall regain the rights of a Holder of this Note with respect
to such unconverted portions of this Note and the Borrower shall, as soon as practicable, return such unconverted Note to the
Holder or, if the Note has not been surrendered, adjust its records to reflect that such portion of this Note has not been converted.
In all cases, the Holder shall retain all of its rights and remedies (including, without limitation, (i) the right to receive
Conversion Default Payments pursuant to Section 1.3 to the extent required thereby for such Conversion Default and any subsequent
Conversion Default and (ii) the right to have the Conversion Price with respect to subsequent conversions determined in accordance
with Section 1.3) for the Borrower’s failure to convert this Note.

 

ARTICLE
II. CERTAIN COVENANTS

 

2.1
Distributions on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not
without the Holder’s written consent (a) pay, declare or set apart for such payment, any dividend or other distribution
(whether in cash, property or other securities) on shares of capital stock other than dividends on shares of Common Stock solely
in the form of additional shares of Common Stock or (b) directly or indirectly or through any subsidiary make any other payment
or distribution in respect of its capital stock except for distributions pursuant to any shareholders’ rights plan which
is approved by a majority of the Borrower’s disinterested directors.

 

2.2
Restriction on Stock Repurchases. So long as the Borrower shall have any obligation under this Note, the Borrower shall
not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property
or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the
Borrower or any warrants, rights or options to purchase or acquire any such shares.

 

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ARTICLE
III. EVENTS OF DEFAULT

 

If
any of the following events of default (each, an “Event of Default”) shall occur:

 

3.1
Failure to Pay Principal or Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this
Note, whether at maturity, upon acceleration or otherwise.

 

3.2
Conversion and the Shares. The Borrower fails to reserve a sufficient amount of shares of common stock as required under
the terms of this Note (including Section 1.3 of this Note) and such breach continues for a period of five (5) days, fails to
issue shares of Common Stock to the Holder (or announces or threatens in writing that it will not honor its obligation to do so)
upon exercise by the Holder of the conversion rights of the Holder in accordance with the terms of this Note, fails to transfer
or cause its transfer agent to transfer (issue) (electronically or in certificated form) shares of Common Stock issued to the
Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, the Borrower directs its transfer
agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring (or issuing) (electronically or in
certificated form) shares of Common Stock to be issued to the Holder upon conversion of or otherwise pursuant to this Note as
and when required by this Note, or fails to remove (or directs its transfer agent not to remove or impairs, delays, and/or hinders
its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof) on
any shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by
this Note (or makes any written announcement, statement or threat that it does not intend to honor the obligations described in
this paragraph) and any such failure shall continue uncured (or any written announcement, statement or threat not to honor its
obligations shall not be rescinded in writing) for two (2) business days after the Holder shall have delivered a Notice of Conversion.
It is an obligation of the Borrower to remain current in its obligations to its transfer agent. It shall be an event of default
of this Note, if a conversion of this Note is delayed, hindered or frustrated due to a balance owed by the Borrower to its transfer
agent. If at the option of the Holder, the Holder advances any funds to the Borrower’s transfer agent in order to process
a conversion, such advanced funds shall be paid by the Borrower to the Holder within five (5) business days of a demand from the
Holder, either in cash or as an addition to the balance of the Note, and such choice of payment method is at the discretion of
the Borrower.

 

3.3
Breach of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this
Note and any collateral documents and such breach continues for a period of ten (10) days after written notice thereof to the
Borrower from the Holder.

 

3.4
Breach of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement,
statement or certificate given in writing pursuant hereto or in connection herewith, shall be false or misleading in any material
respect when made and the breach of which has (or with the passage of time will have) a material adverse effect on the rights
of the Holder with respect to this Note.

 

3.5
Receiver or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors,
or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business,
or such a receiver or trustee shall otherwise be appointed.

 

    	10

    	 

    

 

3.6
Judgments. Any money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary
of the Borrower or any of its property or other assets for more than $50,000, and shall remain unvacated, unbonded or unstayed
for a period of twenty (20) days unless otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.7
Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary,
for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any
subsidiary of the Borrower.

 

3.8
Delisting of Common Stock. The Borrower shall fail to maintain the listing or quotation of the Common Stock on the Principal
Market or an equivalent replacement exchange, the Nasdaq Global Market, the Nasdaq Capital Market, the New York Stock Exchange,
or the NYSE MKT.

 

3.9
Failure to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange
Act (including but not limited to becoming late or delinquent in its filings at any time while this Note is outstanding, even
if the Borrower subsequently cures such delinquency), and/or the Borrower shall cease to be subject to the reporting requirements
of the Exchange Act.

 

3.10
Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.11
Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to
pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as
a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due, or any disposition
or conveyance of any material asset of the Borrower.

 

3.12
Financial Statement Restatement. The Borrower replaces its auditor, or any restatement of any financial statements filed
by the Borrower with the SEC for any date or period from two years prior to the Issue Date of this Note and until this Note is
no longer outstanding, if the result of such restatement would, by comparison to the unrestated financial statement, have constituted
a material adverse effect on the rights of the Holder with respect to this Note.

 

3.13
Replacement of Transfer Agent. In the event that the Borrower replaces its transfer agent, and the Borrower fails to provide
prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions (including but not limited
to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer agent
to Borrower and the Borrower.

 

    	11

    	 

    

 

3.14
Cross-Default. Notwithstanding anything to the contrary contained in this Note or the other related or companion documents,
a breach or default by the Borrower of any covenant or other term or condition contained in all convertible promissory notes,
currently issued, or hereafter issued, by the Borrower, to the Holder (the “Other Agreements”), after the passage
of all applicable notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note,
in which event the Holder shall be entitled to apply all rights and remedies of the Holder under the terms of this Note by reason
of a default under said Other Agreement or hereunder.

 

3.15
Inside Information. Any attempt by the Borrower or its officers, directors, and/or affiliates to transmit, convey, disclose,
or any actual transmittal, conveyance, or disclosure by the Borrower or its officers, directors, and/or affiliates of, material
non-public information concerning the Borrower, to the Holder or its successors and assigns, which is not immediately cured by
Borrower’s filing of a Form 8-K pursuant to Regulation FD on that same date.

 

3.16
No bid. At any time while this Note is outstanding, the lowest Trading Price on the Principal Market or other applicable
principal trading market for the Common Stock is equal to or less than $0.0001.

 

3.17
Delisting or Suspension of Trading of Common Stock. If, at any time on or after the Issue Date, the Borrower’s Common
Stock (i) is suspended from trading, (ii) halted from trading, and/or (iii) fails to be quoted or listed (as applicable) on any
level of the OTC Markets, any tier of the NASDAQ Stock Market, the New York Stock Exchange, or the NYSE American.

 

Upon
the occurrence and during the continuation of any Event of Default specified in Sections 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8,
3.9, 3.10, 3.11, 3.12, 3.13, 3.14, 3.15, 3.16, and/or 3.17 exercisable through the delivery of written notice to the Borrower
by such Holders (the “Default Notice”), and upon the occurrence of an Event of Default specified the remaining sections
of Articles III, the Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction
of its obligations hereunder, an amount equal to 140% multiplied by the then outstanding entire balance of the Note (including
principal and accrued and unpaid interest) plus Default Interest, if any, plus any amounts owed to the Holder pursuant
to Sections 1.4(g) hereof (collectively, in the aggregate of all of the above, the “Default Amount”), and all other
amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby
are expressly waived, together with all costs, including, without limitation, legal fees and expenses, of collection, and the
Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

 

The
Holder shall have the right at any time after the occurrence of an Event of Default under this Note to require the Borrower, upon
written notice, to immediately issue, in lieu of the Default Amount, the number of shares of Common Stock of the Borrower equal
to the Default Amount divided by the Conversion Price then in effect, subject to issuance in tranches due to the beneficial ownership
limitations contained in this Note.

 

    	12

    	 

    

 

ARTICLE
IV. MISCELLANEOUS

 

4.1
Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder
are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

4.2
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, facsimile, or electronic mail addressed as set forth below or to such other address
as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to
be given hereunder shall be deemed effective (a) upon hand delivery, upon electronic mail delivery, or delivery by facsimile,
with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated below (if delivered
on a business day during normal business hours where such notice is to be received), or the first business day following such
delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on
the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or
upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If
to the Borrower, to:

 

PROPANC
BIOPHARMA, INC.

302,
6 Butler Street

Camberwell,
VIC, 3124 Australia

e-mail:
info@propanc.com

 

If
to the Holder:

 

CROWN
BRIDGE PARTNERS, LLC

1173a
2nd Avenue, Suite 126

New York, NY 10065

e-mail:
Info@CrownBridgeCapital.com

 

4.3
Amendments. This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and
the Holder. The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument
as originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4
Assignability. This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit
of the Holder and its successors and assigns. Notwithstanding anything to the contrary herein, the rights, interests or obligations
of the Borrower hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Borrower without
the prior signed written consent of the Holder, which consent may be withheld at the sole discretion of the Holder (any such assignment
or transfer shall be null and void if the Borrower does not obtain the prior signed written consent of the Holder). This Note
or any of the severable rights and obligations inuring to the benefit of or to be performed by Holder hereunder may be assigned
by Holder to a third party, in whole or in part, without the need to obtain the Company’s consent thereto. Each transferee
of this Note must be an “accredited investor” (as defined in Rule 501(a) of the 1933 Act). Notwithstanding anything
in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account or other
lending arrangement.

 

    	13

    	 

    

 

4.5
Cost of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection,
including reasonable attorneys’ fees.

 

4.6
Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Delaware without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Note shall be brought only in the state located in New York City, NY and/or federal courts located in New York City, NY.
The parties to this Note hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and
shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Borrower and
Holder waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s
fees and costs. In the event that any provision of this Note or any other agreement delivered in connection herewith is invalid
or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may
prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement or any other Transaction Document 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 Agreement
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 other manner permitted by law.

 

4.7
Certain Amounts. Whenever pursuant to this Note the Borrower is required to pay an amount in excess of the outstanding
principal amount (or the portion thereof required to be paid at that time) plus accrued and unpaid interest plus Default Interest
on such interest, the Borrower and the Holder agree that the actual damages to the Holder from the receipt of cash payment on
this Note may be difficult to determine and the amount to be so paid by the Borrower represents stipulated damages and not a penalty
and is intended to compensate the Holder in part for loss of the opportunity to convert this Note and to earn a return from the
sale of shares of Common Stock acquired upon conversion of this Note at a price in excess of the price paid for such shares pursuant
to this Note. The Borrower and the Holder hereby agree that such amount of stipulated damages is not plainly disproportionate
to the possible loss to the Holder from the receipt of a cash payment without the opportunity to convert this Note into shares
of Common Stock.

 

4.8
[Intentionally Omitted].

 

    	14

    	 

    

 

4.9
Prepayment. Notwithstanding anything to the contrary contained in this Note, the Borrower may prepay any amount outstanding
under this Note, during the initial 60 calendar day period after the Issue Date, by making a payment to the Holder of an amount
in cash equal to 115% multiplied the amount that the Borrower is prepaying, subject to the Holder’s prior written acceptance
in Holder’s sole discretion. Notwithstanding anything to the contrary contained in this Note, the Borrower may prepay any
amount outstanding under this Note, during the 61st through 120 calendar day period after the Issue Date, by making
a payment to the Holder of an amount in cash equal to 125% multiplied the amount that the Borrower is prepaying, subject to the
Holder’s prior written acceptance in Holder’s sole discretion. Notwithstanding anything to the contrary contained
in this Note, the Borrower may prepay any amount outstanding under this Note, during the 121st through 180 calendar
day period after the Issue Date, by making a payment to the Holder of an amount in cash equal to 135% multiplied the amount that
the Borrower is prepaying, subject to the Holder’s prior written acceptance in Holder’s sole discretion. The Borrower
may not prepay any amount outstanding under this Note after the 180th calendar day after the Issue Date.

 

4.10
Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law
governing usury, the applicable provision shall automatically be revised to equal the maximum rate of interest or other amount
deemed interest permitted under applicable law. The Borrower covenants (to the extent that it may lawfully do so) that it shall
not seek to claim or take advantage of any law that would prohibit or forgive the Borrower from paying all or a portion of the
principal or interest on this Note.

 

4.11
Section 3(a)(10) Transactions. If at any time while this Note is outstanding, the Borrower enters into a transaction structured
in accordance with, based upon, or related or pursuant to, in whole or in part, Section 3(a)(10) of the Securities Act (a “3(a)(10)
Transaction”), then a liquidated damages charge of 25% of the outstanding principal balance of this Note at that time, will
be assessed and will become immediately due and payable to the Holder, either in the form of cash payment or as an addition to
the balance of the Note, as determined by mutual agreement of the Borrower and Holder.

 

[signature
page to follow]

 

    	15

    	 

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this October 3, 2019.

 

	PROPANC
    BIOPHARMA, INC.	 
	 	 	 
	By:	 	 
	Name:	James
    Nathanielsz	 
	Title:
    	Chief
    Executive Officer	 

 

    	16

    	 

    

 

EXHIBIT
A — NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert $____________ principal amount of the Note (defined below) into that number of shares of
Common Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of PROPANC
BIOPHARMA, INC., a Delaware corporation (the “Borrower”) according to the conditions of the convertible note of
the Borrower dated as of October 3, 2019 (the “Note”), as of the date written below. No fee will be charged to
the Holder for any conversion, except for transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

	 	[  ]	The
    Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the
    undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).
	 	 	 
	 	 	Name of DTC Prime Broker:

                                                                              Account Number:

	 	 	 
	 	[  ]	The
    undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock
    set forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately
    below or, if additional space is necessary, on an attachment hereto:

 

CROWN
BRIDGE PARTNERS, LLC

1173a
2nd Avenue, Suite 126

New York, NY 10065

e-mail:
Info@CrownBridgeCapital.com

 

	Date
    of Conversion:	__________________	 
	Applicable
    Conversion Price:	$__________________	 
	Number
    of Shares of Common Stock to be Issued Pursuant to Conversion of the Notes:	__________________	 
	Amount
    of Principal Balance Due remaining Under the Note after this conversion:	__________________	 

 

CROWN
BRIDGE PARTNERS, LLC

 

	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	Date:
    	 	 

 

    	17

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