SEC Contract Filing

Filing Date: 2018-05-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>agtk0528form8kexh10_3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NEITHER THIS SECURITY NOR THE SECURITIES AS
TO WHICH THIS SECURITY MAY BE EXERCISED 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 EXERCISE
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: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>COMMON STOCK PURCHASE WARRANT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>AGRITEK HOLDINGS, INC.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Warrant Shares: 6,968,411</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date of Issuance: May 8, 2018 (&ldquo;<U>Issuance
Date</U>&rdquo;)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This COMMON STOCK PURCHASE
WARRANT (the &ldquo;<U>Warrant</U>&rdquo;) certifies that, for value received (in connection with the funding of the purchase price
of $100,000.00, with respect to the first tranche of $121,111.000 issuance of that certain convertible promissory note in the original
principal amount of $565,555.00 on May 8, 2018 by the Company (as defined below) to the Holder (as defined below)) (the &ldquo;Note&rdquo;),
L2 Capital, LLC, a Kansas limited liability company (including any permitted and registered assigns,&nbsp;the&nbsp;&ldquo;<U>Holder</U>&rdquo;),
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date of issuance hereof, to purchase from Agritek Holdings, Inc., a Delaware corporation (the&nbsp;&ldquo;<U>Company</U>&rdquo;),
up to 6,968,411 shares of Common Stock (as defined below) (the &ldquo;<U>Warrant Shares</U>&rdquo;) (whereby such number may be
adjusted from time to time pursuant to the terms and conditions of this Warrant) (with the understanding that the Holder shall
only be entitled to the prorated number of Warrant Shares based upon each tranche funded) at the Exercise Price per share then
in effect. This Warrant is issued by the Company as of the date hereof in connection with that certain securities purchase agreement
dated May 8, 2018, by and among the Company and the Holder (the &ldquo;<U>Purchase Agreement</U>&rdquo;). At the time that each
subsequent tranche under the Note is funded by the Holder in cash, then on such funding date, the Warrant Shares shall immediately
and automatically be increased by the quotient of 100% of the face value of the respective tranche and 110% of the VWAP of the
Common Stock on the Trading Day immediately prior to the funding date of the respective tranche.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Capitalized terms used
in this Warrant shall have the meanings set forth in the Purchase Agreement unless otherwise defined in the body of this Warrant
or in Section 13 below. For purposes of this Warrant, the term &ldquo;<U>Exercise Price</U>&rdquo; with respect to the Warrant
Shares issued for each tranche funded under the Note, shall mean 110% of the VWAP of the Common Stock on the Trading Day immediately
prior to the funding date of the respective tranche, subject to adjustment as provided herein (including but not limited to cashless
exercise), and the term&nbsp;&ldquo;<U>Exercise Period</U>&rdquo; shall mean the period commencing on the Issuance Date and ending
on 5:00 p.m. eastern standard time on the five-year anniversary thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1. <U>EXERCISE
OF WARRANT</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a) <I>Mechanics
of Exercise</I>. Subject to the terms and conditions hereof, the rights represented by this Warrant may be exercised in whole or
in part at any time or times during