SEC Contract Filing

Filing Date: 2019-12-04

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10-2.htm
<DESCRIPTION>FORM OF 8% CONVERTIBLE PROMISSORY NOTE
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Exhibit 10.2</font></div>
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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 &#x201C;SECURITIES ACT&#x201D;), 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.</font></div>
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Original Issue Date: November 27, 2019</font></div>
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Original Principal Amount: $833,333.33</font></div>
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Purchase Price: $750,000.00</font></div>
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FORM OF</font></div>
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8% SENIOR SECURED</font></div>
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CONVERTIBLE PROMISSORY NOTE</font></div>
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DUE NOVEMBER 26, 2020</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">THIS 8%
SENIOR SECURED CONVERTIBLE PROMISSORY NOTE is one of a series of
duly authorized and validly issued 8% Senior Secured Convertible
Promissory Notes of <font style="font-weight: bold">EXACTUS,
INC</font>., a Nevada corporation (the &#x201C;<font style="text-decoration: underline">Company</font>&#x201D;), having its
principal place of business at 80 NE 4th Avenue, Suite 28, Delray
Beach, Florida 33483, designated as its 8% Senior Secured
Convertible Promissory Note due November 26, 2020 (this
&#x201C;<font style="text-decoration: underline">Note</font>&#x201D;,
and collectively with the other Notes of such series, the
&#x201C;<font style="text-decoration: underline">Notes</font>&#x201D;).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">This
Note is being issued at a ten percent (10%) original issue
discount.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">FOR
VALUE RECEIVED, the Company promises to pay to <font style="color: #000000">3i, LP</font>, a <font style="color: #000000">Delaware limited partnership</font>, or its
registered assigns (each, a &#x201C;<font style="text-decoration: underline">Holder</font>&#x201D;), or shall have
paid pursuant to the terms hereunder, the princ