SEC Contract Filing

Filing Date: 2016-06-06

Document Content:
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<TYPE>EX-10
<SEQUENCE>6
<FILENAME>convnote3116.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="font: 12pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 1in 0 1.5in; text-align: justify"><B>THIS NOTE AND THE COMMON
STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE &quot;1933 ACT&rdquo;)</B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 1in 0 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&#9;&#9; US $39,375.00 </B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">INDEPENDENT FILM DEVELOPMENT CORP.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">8% CONVERTIBLE REDEEMABLE NOTE</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">DUE MARCH 1, 2017</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED,
Independent Film Development Corp. (the &ldquo;Company&rdquo;) promises to pay to the order of CERBERUS FINANCE GROUP, LTD and
its authorized successors and permitted assigns (&quot;<U>Holder</U>&quot;), the aggregate principal face amount of Thirty Nine
Thousand Three Hundred Seventy Five Dollars (U.S. $39,375.00) on March 1, 2017 (&quot;<U>Maturity Date</U>&quot;) and to pay interest
on the principal amount outstanding hereunder at the rate of 8% per annum commencing on March 1, 2016. The interest will be paid
to the Holder in whose name this Note is registered on the records of the Company regarding registration and transfers of this
Note. The principal of, and interest on, this Note are payable at Craigmuir Chambers, Road Town, Tortola VG 1110, British Virgin
Islands , initially, and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof
from time to time. The Company will pay each interest payment and the outstanding principal due upon this Note before or on the
Maturity Date, less any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer
addressed to such Holder at the last address appearing on the records of the Company. The forwarding of such check or wire transfer
shall constitute a payment of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this
Note to the extent of the sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined
below) pursuant to paragraph 4(b) herein.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Note is subject
to the following additional provisions:</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;1.&#9;This Note is exchangeable for
an equal aggregate principal amount of Notes of different authorized denominations, as requested by the Holder surrendering the
same. No service charge will be made for such registration or transfer or exchange, except that Holder</P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">shall pay any tax or other governmental
charges payable in connection therewith.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;2.&#9;The Company shall be entitled
to withhold from all payments any amounts required to be withheld under applicable laws.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;3.&#9;This Note may be transferred
or exchanged only in compliance with the Securities Act of 1933, as amended (&quot;<U>Act</U>&quot;) and applicable state