SEC Contract Filing

Filing Date: 2016-11-21

Document Content:
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<TYPE>EX-10.14
<SEQUENCE>4
<FILENAME>v452672_ex10-14.htm
<DESCRIPTION>EXHIBIT 10.14
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.14</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit B</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NEITHER THIS SECURITY NOR THE SECURITIES
INTO WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES
ACT&rdquo;), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH
EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION
OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.</P>

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

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 <TD STYLE="width: 17%; text-align: justify"><FONT STYLE="font-size: 10pt">Original Issue Date: </FONT></TD>
 <TD STYLE="width: 41%; text-align: justify"><FONT STYLE="font-size: 10pt">[_________ __, 2016]</FONT></TD>
 <TD STYLE="width: 42%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD><FONT STYLE="font-size: 10pt">Face Amount: </FONT></TD>
 <TD><FONT STYLE="font-size: 10pt">$[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
 <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD><FONT STYLE="font-size: 10pt">Purchase Price</FONT></TD>
 <TD><FONT STYLE="font-size: 10pt">$[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
 <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD><FONT STYLE="font-size: 10pt">No.: </FONT></TD>
 <TD><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
 <TD>&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>20% ORIGINAL ISSUE DISCOUNT UNSECURED
CONVERTIBLE DEBENTURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DUE [_____________ __, 2017]<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT></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">THIS 20% ORIGINAL ISSUE
DISCOUNT UNSECURED CONVERTIBLE DEBENTURE is one of a series of duly authorized and validly issued 20% Original Issue Discount Unsecured
Convertible Debentures of Protea Biosciences Group, Inc., a Delaware corporation, (the &ldquo;<U>Company</U>&rdquo;), having its
principal place of business at 1311 Pineview Drive, Suite 501, Morgantown, WV 26505, designated as its 20% Original Issue Discount
Unsecured Convertible Debenture due [February __, 2017]<SUP>1</SUP> (this debenture, the &ldquo;<U>Debenture</U>&rdquo; and, collectively
with the other debentures of such series, the &ldquo;<U>Debentures</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED,
the Company promises to pay to <B>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</B> or its registered assigns (the &ldquo;<U>Holder</U>&rdquo;),
or shall have paid pursuant to the terms hereunder, the principal sum of $[<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>] on [__, 2017]<SUP>1
</SUP>(the &ldquo;<U>Maturity Date</U>&rdquo;), or such earlier date as this Debenture is required or permitted to be repaid or
converted, as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal
amount of this Debenture in accordance with the provisions hereof. This Debenture is subject to the following additional provisions:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>1</SUP> &nbsp;&nbsp;Six months from the Original
Issue Date.</P>

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