SEC Contract Filing

Filing Date: 2021-02-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.(II)
<SEQUENCE>3
<FILENAME>tm216566d1_ex10-ii.htm
<DESCRIPTION>EXHIBIT 10(II)
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10(ii)</B></P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NEITHER THIS DEBENTURE NOR THE SECURITIES
INTO WHICH THIS DEBENTURE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE. THESE SECURITIES HAVE BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE &#8220;<U>SECURITIES ACT</U>&#8221;), 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.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-style: normal; font-weight: normal">ELECTROMEDICAL
TECHNOLOGIES, INC.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">Convertible
Debenture</FONT></P>

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<TD STYLE="width: 64%; font-size: 10pt; text-align: justify">Issuance Date:&nbsp;&nbsp;February 8, 2021</TD>
<TD STYLE="text-align: center; width: 26%; font-size: 10pt">Original Principal Amount:</TD>
<TD STYLE="text-align: right; width: 10%; font-size: 10pt">$500,000</TD></TR>
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<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
<TD STYLE="text-align: right; font-size: 10pt">&nbsp;</TD></TR>
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<TD>No. EMED-1 1-3</TD>
<TD STYLE="text-align: center">Original Issue Discount:</TD>
<TD STYLE="text-align: right">5%</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>FOR VALUE RECEIVED,
ELECTROMEDICAL TECHNOLOGIES, INC.</B>, a Delaware corporation (the &quot;<U>Company</U>&quot;), hereby promises to pay to the order
of <B>YA II PN, LTD</B>., or registered assigns (the &quot;<U>Holder</U>&quot;) the amount set out above as the Original Principal
Amount (as reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise, the &quot;<U>Principal</U>&quot;)
when due, on the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance with the terms
hereof) and to pay interest (&quot;<U>Interest</U>&quot;) on any outstanding Principal at the applicable Interest Rate from the
date set out above as the Issuance Date (the &quot;<U>Issuance Date</U>&quot;) until the same becomes due and payable, whether
upon the Maturity Date, acceleration, conversion, redemption or otherwise (in each case in accordance with the terms hereof). This
Convertible Debenture (including all Convertible Debentures issued in exchange, transfer or replacement hereof, this &quot;<U>Debenture</U>&quot;)
is issued pursuant to the Securities Purchase Agreement. Certain capitalized terms used herein are defined in Section 17.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>GENERAL TERMS</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp; </FONT><U>Payment
of Principal</U>. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding
Principal, accrued and unpaid Interest. The &quot;<U>Maturity Date</U>&quot; shall be February 8, 2022, as may be extended at
the option of the Holder (i) in the event that, and for so long as, an Event of Default (as defined below) shall have
occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall have
occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time
and the failure to cure would result in an Event of Default. Other than as specifically permitted by this Debenture, the
Company may not prepay or redeem any portion of the outstanding Principal without the prior written consent of the
Holder.</P>

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