PROPERTY MANAGEMENT CORPORATION OF AMERICA SUBSCRIPTION AGREEMENT
exhibit 10.1
PROPERTY MANAGEMENT CORPORATION OF AMERICA
NO PURCHASER MAY ENGAGE IN ANY HEDGING TRANSACTIONS WITH RESPECT TO THE SECURITIES.
To: | Property Management Corporation of America 0000 Xxx Xxxxxxxxx Xxxx, Xxxxx X Xxxxxxxx, Xxxxxxxx 00000 |
Attn: | Mr. C. Xxxxxx XxXxxxxx President and Chief Executive Officer |
This Subscription Agreement (“Agreement”) sets forth the terms under which the undersigned (“Subscriber”) will invest in Property Management Corporation of America, a Delaware corporation (the “Corporation”). This subscription is one of a limited number of subscriptions for up to 2,000,000 shares of Common Stock (the “Shares”) at a price of $0.05 per share (the “Subscription Price”).
The Shares are being offered to a limited number of Subscribers on behalf of the Corporation.
Execution of this Agreement by the Subscriber shall constitute an offer by the Subscriber to subscribe for the Shares set forth in this Agreement on the terms and conditions specified herein. The Corporation reserves the right to reject such subscription offer or, by executing a copy of this Agreement, to accept such offer. If the Subscriber's offer is accepted, the Corporation will execute this Agreement and return an executed copy of the Agreement to the Subscriber. If the Subscriber's offer is rejected, the payment accompanying this Agreement will be returned, with the notice of rejection.
A. | SUBSCRIBER DECLARATION |
The Subscriber acknowledges that the Subscriber is purchasing the Shares and represents that the Subscriber has the following relationship with a director, officer or promoter of the Corporation (check one):
Friend | _________ |
Relative | _________ |
Business Associate | _________ |
B. | TERMS, CORPORATE DISCLOSURE AND GENERAL SUBSCRIBER ACKNOWLEDGEMENTS AND WARRANTIES |
1. | Use of Funds of the Shares |
The Subscriber acknowledges that the funds to be raised from the Shares are to be employed for the business of the Corporation in accordance with management's discretion as to the best use of the same for the Corporation's business plan. The Corporation reserves the right at any time to alter its business plan in accordance with management's appraisal of the market for the goods and services of the Corporation.
2. | Method of Subscription and Terms of Fund Release |
A subscription shall be made by delivering to the Corporation a signed copy of this Agreement and the Subscription Price made to the Corporation or such party as the Corporation may direct. The funds will be employed by the Corporation immediately upon acceptance of the subscription, or of the lesser amount if the full subscription is not accepted.
The Corporation shall return to the Subscriber the Subscription Price, or such amount as has not been accepted, as to such part of the subscription which the Corporation has not accepted.
The Subscriber hereby agrees and acknowledges that:
3. | Subscriber's Representations, Warranties and Understandings |
The Subscriber represents and warrants to the Corporation and understands that:
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· | Newspaper, magazine or other media articles or reports related to the Corporation or its business; or |
· | Promotional literature or other materials used by the Corporation for sales or marketing purposes; or |
· | Any representation, oral or otherwise that the Corporation will become a publicly traded company, that the Shares will be repurchased or have any guaranteed future realizable value, or that there is any certainty as to the success of the Corporation or liquidity or value of the Shares. |
(g) Receipt of Information. The Subscriber acknowledges that, to the Subscriber’s satisfaction:
· | The Subscriber has either had access to or has been furnished with sufficient information regarding the Corporation and the terms of this investment transaction to the Subscriber’s satisfaction; |
· | The Subscriber has been provided the opportunity to ask questions concerning this investment transaction and the terms and conditions thereof and all such questions have been answered to the Subscriber’s satisfaction; and |
· | The Subscriber has been given ready access to and an opportunity to review any information, oral or written, that the Subscriber has requested, in particular to any offering memorandum or business plan of the Corporation, if available, concurrent with or as a part of this subscription. |
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The Subscriber agrees that the above representations and warranties of the Subscriber will be true and correct as of the execution of and acceptance of this Agreement and will survive the completion of the issuance of the Shares. The Subscriber understands that the Corporation will rely on the representations and warranties of the Subscriber herein in determining whether a sale of the Shares to the Subscriber is in compliance with foreign, federal, state and local securities laws and the Subscriber agrees to indemnify and hold harmless the Corporation from all damages or claims resulting from any misrepresentation by the Subscriber.
4. | Material Changes |
The Subscriber undertakes to notify the Corporation immediately should there be any material change in the foregoing warranties and representations and provide the Corporation with the revised or corrected information. The Subscriber hereby agrees to indemnify and hold the Corporation and its affiliates, and the Escrow Agent harmless from and against any and all liability, damage, cost or expense (including reasonable attorneys' fees) incurred on account of or arising out of:
(a) Any inaccuracy in the Subscriber's acknowledgments, representations or warranties set forth in this Agreement;
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(b) The Subscriber's disposition of any of the Shares contrary to the Subscriber's acknowledgments, representations or warranties in this Agreement;
(c) Any suit or proceeding based upon a claim that said acknowledgments, representations or warranties were inaccurate or misleading or otherwise cause for obtaining damages or redress from the Corporation or its affiliates or the disposition of all or any part of the Subscriber's Shares; and
(d) The Subscriber's failure to fulfill any or all of the Subscriber's obligations herein.
5. | Address for Delivery |
Each notice, demand or other communication required or permitted to be given under this Agreement shall be in writing and shall be sent by delivery (electronic or otherwise) or prepaid registered mail deposited in a post office addressed to the Subscriber or the Corporation at the address specified in this Agreement. The date of receipt of such notice, demand or other communication shall be the date of delivery thereof if delivered, or, if given by registered mail as aforesaid, shall be deemed conclusively to be the fifth day after the same shall have been so mailed, except in the case of interruption of postal services for any reason whatsoever, in which case the date of receipt shall be the date on which the notice, demand or other communication is actually received by the addressee.
6. | Change of Address |
Either party may at any time, and from time to time notify the other party in writing of a change of address and the new address to which notice shall be given to it thereafter until further change.
7. | Severability and Construction |
Each section, sub-section, paragraph, sub-paragraph, term and provision of this Agreement, and any portion thereof, shall be considered severable, and if, for any reason, any portion of this Agreement is determined to be invalid, contrary to or in conflict with any applicable present or future law, rule or regulation, that ruling shall not impair the operation of, or have any other effect upon, such other portions of this Agreement as may remain otherwise intelligible (all of which shall remain binding on the parties and continue to be given full force and agreement as of the date upon which the ruling becomes final).
8. | Governing Law |
This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. Any dispute regarding matters as between the Subscriber and the Corporation, whether as a subscriber or shareholder, and whether arising under this Agreement or pursuant to applicable law, shall be adjudicated in Delaware unless the Corporation shall determine or permit otherwise.
9. | Survival of Representations and Warranties |
The covenants, representations and warranties contained herein shall survive the closing of the transactions contemplated hereby.
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10. | Counterparts |
This Agreement may be signed by the parties hereto in as many counterparts as may be necessary, each of which so signed shall be deemed to be an original, and such counterparts together shall constitute one and the same instrument and notwithstanding the date of execution will be deemed to bear the execution date as set forth in this Agreement. This Agreement may be executed and exchanged by facsimile and such facsimile copies shall be valid and enforceable agreements.
11. | Entire Agreement |
This Agreement constitutes the only agreement between the parties with respect to the subject matter hereof and shall supersede any and all prior negotiations and understandings. There are no collateral agreements or understandings hereto and this Agreement, and the documents contemplated herein, constitutes the totality of the parties' agreement. This Agreement may be amended or modified in any respect by written instrument only.
12. | Successors and Assigns |
The terms and provisions of this Agreement shall be binding upon and inure to the benefit of the Subscriber and the Corporation, and their respective successors and lawfully permitted assigns; provided that, except as herein provided, this Agreement shall not be assignable by any party without the written consent of the other. The benefit and obligations of this Agreement, insofar as they extend to or affect the Subscriber, shall pass with any assignment or transfer of the Shares in accordance with the terms of this Agreement.
13. | Subscription Amount and Payments |
Subscriber hereby subscribes for ______________ (Number) of Shares for a total purchase price of $________ (Number of Shares x $0.05) and hereby submits a check in the amount of $________ (Number of Shares x $0.05) made payable to:
Property Management Corporation of America | |
0000 Xxx Xxxxxxxxx Xxxx, Xxxxx X | |
Xxxxxxxx, Xxxxxxxx 00000 | |
Attn: Mr. C. Xxxxxx XxXxxxxx | |
President and Chief Executive Officer |
14. | Effective Date |
This Agreement shall take effect upon the date of acceptance by the Corporation.
DATED at __________, __________ on this _____ day of __________ 2014.
Name of Subscriber (please print): | |
Official Capacity or Title (corporations only): | |
Social Security Number / Corporate Federal ID Number: | |
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Subscriber's Address: | |
Subscriber's E-mail Address: | |
Telephone Number: | |
Authorized Signature: | |
The Corporation hereby accepts the above subscription as of this _____ day of ________ 2014.
PROPERTY MANAGEMENT CORPORATION OF AMERICA | ||
By: | ||
Title: |
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