SEC Contract Filing

Filing Date: 2017-01-27

Document Content:
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<TYPE>EX-10.13
<SEQUENCE>7
<FILENAME>ex10_13.htm
<DESCRIPTION>EXHIBIT 10.13
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B><U>Exhibit 10.13</U></B></P>

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

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>THIS NOTE AND ANY SHARES OF STOCK
ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE
SECURITIES LAWS. THIS NOTE AND ANY SHARES OF STOCK ISSUABLE UPON THE CONVERSION HEREOF MAY NOT BE SOLD, OFFERED FOR SALE, MORTGAGED,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT COVERING THIS NOTE OR SUCH
SHARES UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR THE DELIVERY OF AN OPINION OF COUNSEL THAT SUCH REGISTRATION IS NOT
REQUIRED. THIS NOTE IS ALSO SUBJECT TO RESTRICTIONS ON TRANSFER. </B></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Regen
BioPharma, Inc.</B></FONT></P>

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 <TD STYLE="vertical-align: top; width: 5%; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>Issue Date:</B></FONT></TD>
 <TD STYLE="vertical-align: bottom; width: 6%; border-bottom: black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">December 22 2016</FONT></TD>
 <TD STYLE="vertical-align: bottom; width: 30%; text-align: right; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">:</FONT></TD>
 <TD STYLE="vertical-align: top; width: 59%; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>&nbsp;Principal Amount:</B> $40,000</FONT></TD></TR>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1. <B>Terms</B>.
For value received, the Regen BioPharma, Inc., a Nevada corporation (the &ldquo;Company&rdquo;) hereby absolutely and unconditionally
promises to pay to the order of ________ ON DEMAND any time after December 22 , 2017, the principal amount of Forty Thousand Dollars
($50,000) and interest on the whole amount of said principal sum outstanding and remaining from time to time unpaid (the &ldquo;Note&rdquo;),
commencing from the date hereof and continuing until payment in full of this Note or conversion as hereinafter provided, at an
annual rate equal to ten percent (10%) simple interest. Interest shall be payable quarterly upon demand or upon conversion pursuant
to Section 2 hereunder. Interest shall be computed on the basis of the actual number of days elapsed divided by 365. Principal
and interest shall be payable in lawful money of the United States of America, at the principal place of business of the Lender
or at such other place as the Lender may have designated from time to time in writing to the Company.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2. <B>Conversion.</B></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><U>2.1 Conversion
Right.</U> The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount
of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Common Stock and/or
Series A Preferred Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which
such Common Stock and/or Series A Preferred Stock shall hereafter be changed or reclassified at the conversion price (the &ldquo;Conversion
Price&rdquo;) determined as provided herein (a &ldquo;Conversion&rdquo;). The Lender shall have the right to convert one hundred
percent (100%) of the Principal Amount immediately upon execution of this agreement and any accrued interest may be converted as
well.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The number of shares
of Common Stock and/or Series A Preferred Stock to be issued upon each conversion of this Note shall be determined by dividing
the principal amount of this Note to be converted (the &ldquo;Conversion Amount&rdquo;) by the applicable Conversion Price as defined
in this Section 2 then in effect on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the
&ldquo;Notice of Conversion&rdquo;), delivered to the Company by the Lender on such conversion date (the &ldquo;Conversion Date&rdquo;).</P>

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