SEC Contract Filing

Filing Date: 2016-07-05

Document Content:
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<TYPE>EX-10.1
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<FILENAME>v443671_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">July 1, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Delafield Investments Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">40 Wall Street, 58th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10005</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Joshua Sason</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">Re:</TD><TD STYLE="text-align: justify"><U>Reset Offer of Common Stock Purchase Warrant</U></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To Whom It May Concern:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are pleased to offer
to you the opportunity to reprice the exercise of all of the Common Stock Purchase Warrants (&ldquo;<U>Warrants</U>&rdquo;) issued
to you in connection with the securities purchase agreement, dated October 28, 2015 as amended on March 11, 2016 by addendum (the
&ldquo;<U>Purchase Agreement</U>&rdquo;), by and between you and Propanc Health Group Corporation (the &ldquo;<U>Company</U>&rdquo;)
and currently held by you (&ldquo;<U>Holder</U>&rdquo;). The shares of Common Stock underlying the Warrants (&ldquo;<U>Warrant
Shares</U>&rdquo;) have been registered for resale pursuant to a registration statement on Form S-1, as amended (File No. 333-208169)
(the &ldquo;<U>Registration Statement</U>&rdquo;). The Registration Statement is currently effective and, upon exercise of the
Warrants pursuant to this letter agreement, will be effective for the resale of the Warrant Shares. <B> Capitalized terms not otherwise
defined herein shall have the meanings set forth in the Purchase Agreement.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration for
exercising 26,190,476 Warrants held by you (the &ldquo;<U>Warrant Exercise</U>&rdquo;) as set forth on the signature page hereto,
the Company hereby offers you a reduced exercise price of the Warrants subject to the Warrant Exercise to<B> $0.012</B>. Additionally,
in consideration therefore, the Company shall:</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Modify the July 1, 2016 Interest Payment Date (as such term is defined in the Debenture) of the
Debenture such that the Company is permitted to delay such interest payment by a minimum of 30 calendar days (the &ldquo;<U>Minimum
Extension Date</U>&rdquo;) and up to 60 calendar days, it being understood that the Holder may demand that the Company make the
July 1, 2016 interest payment at any time after the Minimum Extension Date; and</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Modify the October 1, 2016 Interest Payment Date (as such term is defined in the Debenture) of
the Debenture such that the Company is permitted to delay such interest payment to the Maturity Date (as such term is defined in
the Debenture), it being understood that the Holder may demand that the Company make the October 1, 2016 interest payment at any
time after October 1, 2016 and it being further understood that if the Holder has not demanded that the Company make the October
1, 2016 interest payment by October 27, 2016, then the Maturity Date will be extended until December 31, 2016 or such earlier date
as the parties may mutually agree.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holder may accept this
offer by signing this letter below, with such acceptance constituting Holder's exercise of 26,190,476 Warrants for the aggregate
exercise price set forth on the Holder&rsquo;s signature page hereto (the &quot;<U