SEC Contract Filing

Filing Date: 2019-04-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.38
<SEQUENCE>4
<FILENAME>s116899_ex10-38.htm
<DESCRIPTION>EXHIBIT 10.38
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.38</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS NOTE AND THE SECURITIES ISSUABLE UPON
THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE BORROWER THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT
OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><U>CONVERTIBLE PROMISSORY NOTE</U></B></P>

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 <TD STYLE="width: 47%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$100,000</FONT></TD>
 <TD STYLE="width: 53%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 29, 2019</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED,
NanoVibronix, Inc., a Delaware corporation (the <B><I>&ldquo;Borrower&rdquo;</I></B>), hereby promises to pay to the order of AIGH Investment
Partners, L.P. (<B><I>&ldquo;Lender&rdquo;</I></B>), the principal amount (<B><I>&ldquo;Principal Amount&rdquo;</I></B>) equal to $100,000 Interest on
the unpaid portion of the Principal Amount shall be payable on the Maturity Date (as defined below) at a rate per annum equal
to 6%.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Terms;
Payment</U>.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Terms</U>.</B> This Note is one of a number of similar notes (the <B><I>&ldquo;Other Notes&rdquo;</I></B>) being issued and
delivered by the Borrower to certain note holders (together with Lender, the &ldquo;<B><I>Note Holders</I></B>&rdquo;) pursuant
to a debt financing of up to $750,000</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>1.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment</U>.
</B>Unless this Note has been previously converted in accordance with the terms of <U>Section 3</U> hereunder, the Principal Amount
and all accrued but unpaid interest thereon shall be due and payable on the date that is the earlier of the (i) 5-year anniversary
of the date hereof, or (ii) the date that the Borrower completes a Qualified Financing (as hereafter defined) (the &ldquo;<B><I>Maturity
Date</I></B>&rdquo;). On the affirmative vote of the holders of at least two-thirds (2/3rds) of the outstanding aggregate Principal
Amount of this Note and each of the Other Notes (the &ldquo;<B><I>Required Holders</I></B>&rdquo;), the Borrower may from time
to time extend the Maturity Date of this Note and each of the Other Notes. All payments shall be made in lawful money of the United
States of America at the principal office of the Borrower, or at such other place as the holder hereof may from time to time designate
in writing to the Borrower. Payment shall be credited first to accrued interest due and payable and the remainder applied to principal.
The Borrower hereby waives demand, notice, presentment, protest and notice of dishonor.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties of Lender</U>.</B> In connection with the transactions provided for herein, Lender hereby represents and warrants
to the Borrower that:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Purchase Entirely
for Own Account</U>.</B> Lender acknowledges that this Note is issued to Lender in reliance upon Lender&rsquo;s representation to the Borrower that this Note will be acquired for investment
for Lender&rsquo;s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof,
and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By
executing this Note, Lender further