original issue discount Convertible PROMISSORY NOTE DUE MARCH __, 2022Convertible Security Agreement • May 29th, 2020 • Transportation & Logistics Systems, Inc. • Transportation services
THIS ORIGINAL ISSUE DISCOUNT CONVERTIBLE PROMISSORY NOTE is subsequently issued following a series of duly authorized and validly issued Original Issue Discount Convertible Promissory Notes issued at a 10% original issue discount by Transportation and Logistics Systems, Inc., a Nevada corporation (the “Company”) (this note, the “Note” and, collectively with the other notes of such series, the “Notes”).
COMMON STOCK PURCHASE WARRANTSecurity Agreement • May 29th, 2020 • Transportation & Logistics Systems, Inc. • Transportation services • New York
THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, ____________________________, or its assigns (the “Holder”) 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 hereof (the “Initial Exercise Date”) and on or prior to the close of business on the fifth year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from Transportation and Logistics Systems, Inc., an Nevada corporation (the “Company”), up to __________ shares of Common Stock (subject to adjustment hereunder, the “Warrant Shares”). The purchase price of one Warrant Share under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant issued pursuant to a the issuance of a convertible note (the “Convertible Note”) entered into as of the Initial Exercise Date between the Company and the initial Holder.
