SEC Contract Filing

Filing Date: 2017-05-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>s106059_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="margin: 0">&nbsp;</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Note Purchase
Agreement</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">in respect of</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>10% SECURED CONVERTIBLE NOTES </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">issued by</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARKADOS GROUP, INC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center">&nbsp;</P>

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 <TD STYLE="width: 100%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.75pt; text-align: center; font-size: 10pt"><b>May 1, 2017</b></td></tr>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TABLE OF CONTENTS</P>

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 <TD STYLE="width: 10%; text-align: left; text-transform: uppercase; font-weight: bold">&nbsp;</td>
 <TD STYLE="width: 80%; text-align: center; text-transform: uppercase; font-weight: bold">Article 1</td>
 <TD STYLE="width: 10%; text-align: right; text-transform: uppercase; font-weight: bold">&nbsp;</td></tr>
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 <TD STYLE="text-align: left; text-transform: uppercase; font-weight: bold">&nbsp;</td>
 <TD STYLE="text-align: center; text-transform: uppercase; font-weight: bold"><U>INTERPRETATION</U></td>
 <TD STYLE="text-align: right; text-transform: uppercase; font-weight: bold">&nbsp;</td></tr>
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 <TD STYLE="text-align: left; text-transform: uppercase; font-weight: bold">&nbsp;</td>
 <TD STYLE="text-align: center; text-transform: uppercase; font-weight: bold">&nbsp;</td>
 <TD STYLE="text-align: right; text-transform: uppercase; font-weight: bold">&nbsp;</td></tr>
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 <TD STYLE="text-indent: 0in">1.1</td>
 <TD STYLE="text-indent: 0in">Definitions</td>
 <TD STYLE="text-align: right; text-indent: 0in">2</td></tr>
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 <TD STYLE="text-indent: 0in">1.2</td>
 <TD STYLE="text-indent: 0in">Gender and Number</td>
 <TD STYLE="text-align: right; text-indent: 0in">14</td></tr>
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 <TD STYLE="text-indent: 0in">1.3</td>
 <TD STYLE="text-indent: 0in">Interpretation Not Affected by Headings, etc.</td>
 <TD STYLE="text-align: right; text-indent: 0in">14</td></tr>
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 <TD STYLE="text-indent: 0in">1.4</td>
 <TD STYLE="text-indent: 0in">Monetary References</td>
 <TD STYLE="text-align: right; text-indent: 0in">14</td></tr>
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 <TD STYLE="text-indent: 0in">1.5</td>
 <TD STYLE="text-indent: 0in">References</td>
 <TD STYLE="text-align: right; text-indent: 0in">14</td></tr>
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 <TD STYLE="text-indent: 0in">1.6</td>
 <TD STYLE="text-indent: 0in">Invalidity of Provisions</td>
 <TD STYLE="text-align: right; text-indent: 0in">14</td></tr>
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 <TD STYLE="text-indent: 0in">1.7</td>
 <TD STYLE="text-indent: 0in">This Agreement to Govern</td>
 <TD STYLE="text-align: right; text-indent: 0in">15</td></tr>
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 <TD STYLE="text-indent: 0in">1.8</td>
 <TD STYLE="text-indent: 0in">Actions on Days Other Than Business Days</td>
 <TD STYLE="text-align: right; text-indent: 0in">15</td></tr>
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 <TD STYLE="text-indent: 0in">1.9</td>
 <TD STYLE="text-indent: 0in">Interest Act</td>
 <TD STYLE="text-align: right; text-indent: 0in">15</td></tr>
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 <TD STYLE="text-indent: 0in">1.10</td>
 <TD STYLE="text-indent: 0in