SEC Contract Filing

Filing Date: 2018-11-16

Document Content:
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>4
<FILENAME>ex_10-3.htm
<DESCRIPTION>AMENDMENT 1 TO SENIOR SECURED CONVERTIBLE REDEEMABLE NOTE DATED 12-12-2017 - CLAYTON A. STRUVE
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 12pt Times New Roman, Times, Serif">
<DIV style="width:624px">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDMENT NO. 1 TO</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE</B></P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">THIS
AMENDMENT NO. 1 TO SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE DATED DECEMBER 12, 2017 (this &ldquo;<B>Amendment</B>&rdquo;)
is made and entered into as of October 15, 2018, by and between Clayton A. Struve (the &ldquo;<B>Holder</B>&rdquo;), and Know Labs,
Inc., a Nevada corporation f/k/a Visualant, Incorporated (the &ldquo;<B>Company</B>&rdquo;).</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company is
a party to that certain Senior Secured Convertible Redeemable Debenture dated December 12, 2017 (the &ldquo;<B>Debenture</B>&rdquo;)
payable to Holder (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Debenture);</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Debenture
was issued with a principal face amount of $300,000, a Maturity Date of December 11, 2018, and a conversion price of $0.25 per
share of Common Stock; and</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Holder and
the Company wish to amend the Debenture to extend the Maturity Date;</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Now,
therefore</FONT>, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereby agree as follows.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
of Maturity Date</U>. The Maturity Date of the Debenture is hereby amended to February 27, 2019.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Other Changes</U>. Except as specifically set forth in this Amendment, the terms of the Debenture remain in full force and effect.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
parties hereto have executed this Amendment as of the date first above written.</P>

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

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>KNOW LABS, INC.</B></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">/s/ Ronald P. Erickson</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By: Ronald P. Erickson</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Its: Chairman of the Board</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dated: November 16, 2018</P>

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

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">/s/ Clayton A. Struve</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Clayton A. Struve</P>

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

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

<HR noshade align