SUBSCRIPTION AGREEMENT
Exhibit 10.2
This SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into on October 18, 2018, by and between Sentinel Energy Services Inc., a Cayman Islands exempted company (which, as described below, shall be domesticated as a Delaware corporation prior to the closing of the Transaction (as defined herein) and in connection therewith change its name to Strike, Inc.) (the “Company”), and the subscribers listed on Schedule A hereto (each such subscriber a “Subscriber” and together, the “Subscribers”).
WHEREAS, concurrently with the execution of this Subscription Agreement, the Company is entering into a Transaction Agreement and Plan of Merger with Strike Capital, LLC (“Strike”), OEP Secondary Fund (Strike), LLC, One Equity Partners Secondary Fund, L.P., the other unitholders of Strike signatory thereto, SES Blocker Merger Sub, LLC and OEP-Strike Seller Representative, LLC, solely in its capacity as the Sellers Representative (as defined therein) (the “Transaction Agreement” and the transactions contemplated by the Transaction Agreement, the “Transaction”);
WHEREAS, prior to the closing of the Transaction, the Company will domesticate as a Delaware corporation in accordance with Section 388 of the Delaware General Corporation Law and Article 206 of the Cayman Islands Companies Law (2018 Revision) (the “Domestication”), and in connection with the Domestication and the Transaction, change its name to Strike, Inc.;
WHEREAS, in connection with the Transaction, each Subscriber desires to subscribe for and purchase from the Company, subsequent to the effectiveness of the Domestication and substantially concurrent with the consummation of the Transaction, that number of shares of the Company’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”), set forth next to its name on Schedule A hereto (the “Subscribed Shares”) for a purchase price of $10.00 per share (the “Per Share Price” and the aggregate of such Per Share Price for all Subscribed Shares being referred to herein as the “Purchase Price”), and the Company desires to issue and sell to each Subscriber the Subscribed Shares in consideration of the payment of the Purchase Price by or on behalf of such Subscriber to the Company; and
WHEREAS, concurrently with the execution of this Subscription Agreement, the Company is entering into one or more agreements with certain other investors, pursuant to which the Company has agreed issue to such investors on the closing date of the Transaction (the “Closing Date”), an aggregate amount of 4,000,000 shares of Class A Common Stock, for aggregate proceeds to the Company of $40,000,000 (the “Other Subscription Agreements”).
NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows:
1. Subscription. Subject to the terms and conditions hereof, at the Closing (as defined below), each Subscriber hereby agrees to subscribe for and purchase, and the Company hereby agrees to issue and sell to each Subscriber, upon the payment of the Purchase Price, such Subscriber’s Subscribed Shares (such subscription and issuance the “Subscription”).
2. Closing.
a. The closing of the Subscription contemplated hereby (the “Closing”) is contingent upon the substantially concurrent consummation of the Transaction and shall occur immediately prior thereto. At least five (5) Business Days before the anticipated Closing Date, the Company shall deliver written notice to each Subscriber (the “Closing Notice”) of the Closing Date. For the purposes of this Subscription Agreement, “Business Day” means any day other than a Saturday, Sunday or a day on which the Federal Reserve Bank of New York is closed.
b. At the Closing, the Company will issue and deliver to each Subscriber such Subscriber’s Subscribed Shares in book entry or certificated form (at the Company’s discretion), free and clear of any liens or other restrictions (other than those arising under this Subscription Agreement or state or federal securities laws), in the name of such Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian designated by such Subscriber, as applicable. Upon confirmation by such Subscriber’s custodian of receipt of the certificated shares, such Subscriber shall deliver to the Company the Purchase Price for its Subscribed Shares by wire transfer of U.S. dollars in immediately available funds to the account specified by the Company in the Closing Notice. In the event the Transaction does not occur within one (1) Business Day of the Closing, the Company shall promptly (but not later than two (2) Business Days thereafter) return the Purchase Price to such Subscriber, and any book entries or share certificates shall be deemed cancelled and any share certificates shall be promptly (but not later than two (2) Business Days thereafter) returned to the Company.
c. The Closing shall be subject to the satisfaction or valid waiver by each party of the conditions that, on the day of Closing:
(i) no suspension of the qualification of the Subscribed Shares for offering or sale or trading in any jurisdiction, or initiation or threatening of any proceedings for any of such purposes, shall have occurred;
(ii) all conditions precedent to the closing of the Transaction set forth in the Transaction Agreement, including the approval of the Company’s shareholders, shall have been satisfied or waived;
(iii) no governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the transactions contemplated hereby illegal or otherwise restraining or prohibiting consummation of the transactions contemplated hereby, and no governmental authority shall have instituted or threatened in writing a proceeding seeking to impose any such restraint or prohibition; and
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d. The obligation of the Company to consummate the Closing shall be subject to the satisfaction or valid waiver by the Company of the additional conditions that, on the day of Closing:
(i) all representations and warranties of each Subscriber contained in this Subscription Agreement shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Subscriber Material Adverse Effect (as defined below), which representations and warranties shall be true in all respects) at and as of the day of Closing; and
(ii) Each Subscriber shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Closing.
e. The obligation of each Subscriber to consummate the Closing shall be subject to the satisfaction or valid waiver by such Subscriber of the additional conditions that, on the day of Closing:
(i) all representations and warranties of the Company contained in this Subscription Agreement shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Company Material Adverse Effect (as defined below), which representations and warranties shall be true in all respects) at and as of the day of Closing; and
(ii) the Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Closing.
f. Prior to or at the Closing, each Subscriber shall deliver to the Company a duly completed and executed Internal Revenue Service Form W-9.
g. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as the parties reasonably may deem to be practical and necessary in order to consummate the Subscription as contemplated by this Subscription Agreement; provided, however, that the Subscribers shall not be required to make, seek or receive any filings, notifications, consents, determinations, authorizations, permits, approvals, licenses or the like, or provide any documentation or information to any regulatory or self-regulatory body having jurisdiction over the Company or such Subscriber other than information that is already included in this Subscription Agreement or is otherwise in the public domain.
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3. Company Representations and Warranties. The Company represents and warrants to the Subscribers that:
a. The Company (i) is duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, (ii) has the requisite power and authority to own, lease and operate its properties, to carry on its business as it is now being conducted and to enter into and perform its obligations under this Subscription Agreement, and (iii) is duly licensed or qualified to conduct its business and, if applicable, is in good standing under the laws of each jurisdiction (other than its jurisdiction of incorporation) in which the conduct of its business or the ownership of its properties or assets requires such license or qualification, except, with respect to the foregoing clause (iii), where the failure to be in good standing would not reasonably be expected to have a Company Material Adverse Effect. For purposes of this Subscription Agreement, a “Company Material Adverse Effect” means an event, change, development, occurrence, condition or effect with respect to the Company that, individually or in the aggregate, has a material adverse effect on the business, financial condition or results of operations of the Company, taken as a whole.
b. The Subscribed Shares, when issued and delivered to the Subscribers against full payment therefor in accordance with the terms of this Subscription Agreement, will be validly issued, fully paid and non-assessable and will not have been issued in violation of any preemptive rights created under the Company’s certificate of incorporation or the Delaware General Corporation Law.
c. This Subscription Agreement has been duly executed and delivered by the Company, and, assuming the due authorization, execution and delivery of the same by each Subscriber, this Subscription Agreement shall constitute the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors generally and by the availability of equitable remedies.
d. The execution and delivery of this Subscription Agreement, the issuance and sale of the Subscribed Shares and the compliance by the Company with all of the provisions of this Subscription Agreement and the consummation of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Company is a party or by which the Company is bound or to which any of the property or assets of the Company is subject; (ii) the organizational documents of the Company; or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Company or any of its properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a Company Material Adverse Effect or have a material adverse effect on the Company’s ability to consummate the transactions contemplated hereby, including the issuance and sale of the Subscribed Shares.
e. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization (including The Nasdaq Stock Market (“Nasdaq”)) or other person in connection with the execution, delivery and performance of this Subscription Agreement (including, without limitation, the issuance of the Subscribed Shares), other than (i) the filing with the Securities and Exchange Commission (the “Commission”) of the Registration Statement (as defined below), (ii) filings required by applicable state securities laws, (iii) the filing of a Notice of Exempt Offering of Securities on Form D with the Commission under Regulation D of the Securities Act of 1933, as amended (the “Securities Act”), (iv) the filings required in accordance with Section 8(b) of this Subscription Agreement; (v) those required by Nasdaq, including with respect to obtaining shareholder approval, (vi) those required to consummate the Transaction as provided under the Transaction Agreement, and (vii) the failure of which to obtain would not be reasonably likely to have a Company Material Adverse Effect or have a material adverse effect on the Company’s ability to consummate the transactions contemplated hereby, including the issuance and sale of the Subscribed Shares.
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f. As of the date hereof, the authorized share capital of the Company consists of 200,000,000 Class A ordinary shares, par value $0.0001 per share (“Class A Ordinary Shares”), 20,000,000 Class B ordinary shares, par value $0.0001 per share (“Class B Ordinary Shares” and together with the Class A Ordinary Shares, “Ordinary Shares”) and 1,000,000 preferred shares, par value $0.0001 per share (“Preferred Shares”). As of the Closing Date (and immediately after the consummation of the Transaction), the authorized capital stock of the Company will consist of 400,000,000 shares of Class A Common Stock, 50,000,000 shares of Class B common stock, par value of $0.0001 per share, and 1,000,000 shares of preferred stock, par value of $0.0001 per share. As of the date hereof: (i) 34,500,000 Class A Ordinary Shares, 8,625,000 Class B Ordinary Shares and no Preferred Shares were issued and outstanding; (ii) 17,433,333 warrants, each exercisable to purchase one Class A Ordinary Share at $11.50 per share) (“Warrants”) were issued and outstanding, including 5,933,333 private placement warrants; and (iii) no Ordinary Shares were subject to issuance upon exercise of outstanding options. No Warrants are exercisable on or prior to the Closing. All (i) issued and outstanding Ordinary Shares have been duly authorized and validly issued, are fully paid and are non-assessable and are not subject to preemptive rights and (ii) outstanding Warrants have been duly authorized and validly issued, are fully paid and are not subject to preemptive rights. Except as set forth above and pursuant to (i) the Other Subscription Agreements, (ii) the Option Agreement, dated November 2, 2017, among the Company, CSL Energy Opportunities Fund III, L.P. and CSL Energy Holdings III, Corp, LLC. and (iii) the Transaction Agreement, there are no outstanding options, warrants or other rights to subscribe for, purchase or acquire from the Company any Ordinary Shares or other equity interests in the Company (collectively, “Equity Interests”) or securities convertible into or exchangeable or exercisable for Equity Interests. As of the date hereof, the Company has no subsidiaries and does not own, directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated. There are no stockholder agreements, voting trusts or other agreements or understandings to which the Company is a party or by which it is bound relating to the voting of any Equity Interests, other than (A) the letter agreements entered into by the Company in connection with the Company’s initial public offering on November 2, 2017 and January 31, 2018 pursuant to which Sentinel Management Holdings, LLC and the Company’s executive officers and independent directors agreed to vote in favor of any proposed Business Combination (as defined therein), which includes the Transaction, and (B) as contemplated by the Transaction Agreement.
g. Except for such matters as have not had and would not be reasonably likely to have a Company Material Adverse Effect or have a material adverse effect on the Company’s ability to consummate the transactions contemplated hereby, including the issuance and sale of the Subscribed Shares, as of the date hereof, there is no (i) suit, action, proceeding or arbitration before a governmental authority or arbitrator pending, or, to the knowledge of the Company, threatened against the Company or (ii) judgment, decree, injunction, ruling or order of any governmental authority or arbitrator outstanding against the Company.
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h. The issued and outstanding Class A Ordinary Shares are registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are listed for trading on Nasdaq under the symbol “STNL.” There is no suit, action, proceeding or investigation pending or, to the knowledge of the Company, threatened against the Company by Nasdaq or the Commission with respect to any intention by such entity to deregister the Class A Ordinary Shares or prohibit or terminate the listing of the Class A Ordinary Shares on Nasdaq. The Company has taken no action that is designed to terminate the registration of the Class A Ordinary Shares under the Exchange Act.
i. The Company has made available to each Subscriber (including via the Commission’s XXXXX system) a copy of each form, report, statement, schedule, prospectus, proxy, registration statement and other document, if any, filed by the Company with the Commission since its initial registration of the Class A Ordinary Shares (the “SEC Documents”). None of the SEC Documents filed under the Exchange Act contained, when filed or, if amended, as of the date of such amendment with respect to those disclosures that are amended, any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The Company has timely filed each report, statement, schedule, prospectus, and registration statement that the Company was required to file with the Commission since its inception. There are no material outstanding or unresolved comments in comment letters from the Commission Staff with respect to any of the SEC Documents.
j. Upon consummation of the Transaction, the issued and outstanding shares of Common Stock will be registered pursuant to Section 12(b) of the Exchange Act and will be listed for trading on the New York Stock Exchange.
k. Assuming the accuracy of each Subscriber’s representations and warranties set forth in Section 4 of this Subscription Agreement, no registration under the Securities Act is required for the offer and sale of the Subscribed Shares by the Company to any of the Subscribers.
l. Neither the Company nor any person acting on its behalf has engaged or will engage in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the Subscribed Shares.
4. Subscriber Representations and Warranties. Each Subscriber represents and warrants to the Company, severally and not jointly, that:
a. The Subscriber (i) is duly organized, validly existing and in good standing under the Laws of its jurisdiction of incorporation, (ii) has the requisite power and authority to enter into and perform its obligations under this Subscription Agreement.
b. This Subscription Agreement has been duly executed and delivered by the Subscriber, and, assuming the due authorization, execution and delivery of the same by the Company, this Subscription Agreement shall constitute the valid and legally binding obligation of the Subscriber, enforceable against the Subscriber in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors generally and by the availability of equitable remedies.
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c. The execution and delivery of this Subscription Agreement, the purchase of the Subscribed Shares and the compliance by the Subscriber with all of the provisions of this Subscription Agreement and the consummation of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Subscriber pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Subscriber is a party or by which the Subscriber is bound or to which any of the property or assets of the Subscriber is subject; (ii) the organizational documents of the Subscriber; or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Subscriber or any of its properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a Subscriber Material Adverse Effect. For purposes of this Subscription Agreement, a “Subscriber Material Adverse Effect” means an event, change, development, occurrence, condition or effect with respect to any of the Subscribers that would reasonably be expected to have a material adverse effect on such Subscriber’s ability to consummate the transactions contemplated hereby, including the purchase of the Subscribed Shares.
d. The Subscriber (i) is an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring the Subscribed Shares only for its own account and not for the account of others, and (iii) is not acquiring the Subscribed Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and has provided the Company with the requested information on Annex A following the signature page hereto). The Subscriber is not an entity formed for the specific purpose of acquiring the Subscribed Shares.
e. The Subscriber understands that the Subscribed Shares are being offered in a transaction not involving any public offering within the meaning of the Securities Act and that the Subscribed Shares have not been registered under the Securities Act. The Subscriber understands that the Subscribed Shares may not be resold, transferred, pledged or otherwise disposed of by the Subscriber absent an effective registration statement under the Securities Act, except (i) to the Company, or (ii) pursuant to an applicable exemption from the registration requirements of the Securities Act, and, in each of cases (i) and (ii), in accordance with any applicable securities laws of the states and other jurisdictions of the United States, and that any certificates or book-entry position representing the Subscribed Shares shall contain a legend to such effect. The Subscriber understands and agrees that the Subscribed Shares will be subject to transfer restrictions and, as a result of these transfer restrictions, the Subscriber may not be able to readily resell the Subscribed Shares and may be required to bear the financial risk of an investment in the Subscribed Shares for an indefinite period of time. The Subscriber understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the Subscribed Shares.
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f. The Subscriber understands and agrees that the Subscriber is purchasing the Subscribed Shares directly from the Company. The Subscriber further acknowledges that there have not been, and the Subscriber is not relying on, any representations, warranties, covenants and agreements made to the Subscriber by the Company, any other party to the Transaction or any other person or entity, expressly or by implication, other than those representations, warranties, covenants and agreements of the Company included in this Subscription Agreement.
g. The Subscriber’s acquisition and holding of the Subscribed Shares will not constitute or result in a non-exempt prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended, Section 4975 of the Internal Revenue Code of 1986, as amended, or any applicable similar law.
h. In making its decision to purchase the Subscribed Shares, the Subscriber has relied solely upon independent investigation made by the Subscriber. The Subscriber acknowledges and agrees that the Subscriber has received such information as the Subscriber deems necessary in order to make an investment decision with respect to the Subscribed Shares, including with respect to the Company and the Transaction (including the company to be acquired in the Transaction and its respective subsidiaries). The Subscriber represents and agrees that the Subscriber and the Subscriber’s professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as the Subscriber and such undersigned’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Subscribed Shares. The Subscriber acknowledges and agrees that neither Citigroup Global Markets Inc., acting as placement agent to the Company (the “Placement Agent”), nor any Affiliate of the Placement Agent has provided Subscriber with any information or advice with respect to the Subscribed Shares nor is such information or advice necessary or desired. Neither the Placement Agent nor any of its Affiliates has made or makes any representation as to the Company or the quality of the Subscribed Shares and the Placement Agent and any Affiliate may have acquired non-public information with respect to the Company which the Subscriber agrees need not be provided to it. In connection with the issuance of the Subscribed Shares to the Subscriber, neither the Placement Agent nor any of its Affiliates has acted as a financial advisor or fiduciary to the Subscriber.
i. The Subscriber became aware of this offering of the Subscribed Shares solely by means of direct contact between the Subscriber and the Company or by means of contact from the Placement Agent, and the Subscribed Shares were offered to the Subscriber solely by direct contact between the Subscriber and the Company or by contact between the Subscriber and the Placement Agent. The Subscriber did not become aware of this offering of the Subscribed Shares, nor were the Subscribed Shares offered to the Subscriber, by any other means. The Subscriber acknowledges that the Company represents and warrants that the Subscribed Shares (i) were not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws.
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j. The Subscriber acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Subscribed Shares. The Subscriber has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Subscribed Shares, and the Subscriber has sought such accounting, legal and tax advice as the Subscriber has considered necessary to make an informed investment decision.
k. The Subscriber has adequately analyzed and fully considered the risks of an investment in the Subscribed Shares and determined that the Subscribed Shares are a suitable investment for the Subscriber and that the Subscriber is able at this time and in the foreseeable future to bear the economic risk of a total loss of the Subscriber’s investment in the Company. The Subscriber acknowledges specifically that a possibility of total loss exists.
l. The Subscriber understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Subscribed Shares or made any findings or determination as to the fairness of this investment.
m. The Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC List”), or a person or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited Investor”). The Subscriber represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.), as amended by the USA PATRIOT Act of 2001 and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that the Subscriber maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. The Subscriber also represents that, to the extent required, it maintains policies and procedures reasonably designed for the screening of its investors against the OFAC sanctions programs, including the OFAC List. The Subscriber further represents and warrants that, to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by the Subscriber and used to purchase the Subscribed Shares were legally derived.
n. The Subscriber does not have, and during the 30-day period immediately prior hereto such Subscriber has not entered into, any “put equivalent position” as such term is defined in Rule 16a-1 under the Exchange Act or short sale positions with respect to the securities of the Company. In addition, the Subscriber shall comply with all applicable provisions of Regulation M promulgated under the Securities Act.
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o. The Subscriber acknowledges and agrees that the certificate or book-entry position representing the Subscribed Shares will bear or reflect, as applicable, a legend substantially similar to the following:
“THIS SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) PURSUANT TO ANY AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, (II) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR (III) TO THE COMPANY, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL NOTIFY ANY SUBSEQUENT PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. THE COMPANY MAY REQUIRE THE DELIVERY OF A WRITTEN OPINION OF COUNSEL, CERTIFICATIONS AND/OR ANY OTHER INFORMATION IT REASONABLY REQUIRES TO CONFIRM THE SECURITIES ACT EXEMPTION FOR SUCH TRANSACTION.”
5. Registration Rights.
a. The Company agrees that, within forty-five (45) calendar days after the Closing (the “Filing Deadline”), the Company will use commercially reasonable efforts to file with the Commission a registration statement registering the resale of the Subscribed Shares (the “Registration Statement”), and the Company shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the 75th calendar day (or 105th calendar day if the Commission notifies the Company that it will “review” the Registration Statement) following the Filing Deadline (such date, the “Effectiveness Date”); provided, however, that the Company’s obligations to include the Subscribed Shares in the Registration Statement are contingent upon each Subscriber furnishing in writing to the Company such information regarding such Subscriber, the securities of the Company held by such Subscriber and the intended method of disposition of the Subscribed Shares as shall be reasonably requested by the Company to effect the registration of the Subscribed Shares, and shall execute such documents in connection with such registration as the Company may reasonably request that are customary of a selling stockholder in similar situations. The Company will use its commercially reasonable efforts to maintain the continuous effectiveness of the Registration Statement until the earliest of (i) the date on which such securities may be resold without volume or manner of sale limitations pursuant to Rule 144 promulgated under the Securities Act, (ii) the date on which the Subscribers have notified the Company that such securities have actually been sold and (iii) the date which is three years after the Closing. For purposes of clarification, any failure by the Company to file the Registration Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness Date shall not otherwise relieve the Company of its obligations to file or effect the Registration Statement set forth in this Section 5.
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b. The Company further agrees that, in the event that (i) the Registration Statement is not filed with the Commission on or prior to the Filing Deadline, (ii) the Registration Statement has not been declared effective by the Commission by the Effectiveness Date, (iii) after such Registration Statement is declared effective by the Commission, (A) such Registration Statement ceases for any reason (including without limitation by reason of a stop order, or the Company’s failure to update the Registration Statement), to remain continuously effective as to all Subscribed Shares for which it is required to be effective or (B) a Subscriber is not permitted to utilize the Registration Statement to resell its Subscribed Shares (in each case of (A) and (B), other than within the time period(s) permitted by this Agreement), or (iv) after the date six months following the Closing Date, and only in the event the Registration Statement is not effective or available to sell all of the Subscribed Shares, the Company fails to file with the Commission any required reports under Section 13 or 15(d) of the Exchange Act such that it is not in compliance with Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as a result of which the Subscribers who are not affiliates are unable to sell their Subscribed Shares without restriction under Rule 144 (or any successor thereto) (each such event referred to in clauses (i) through (iv), a “Registration Default” and, for purposes of such clauses, the date on which such Registration Default occurs, a “Default Date”), then in addition to any other rights such Subscriber may have hereunder or under applicable law, on each such Default Date and on each monthly anniversary of each such Default Date (if the applicable Registration Default shall not have been cured by such date) until the applicable Registration Default is cured, the Company shall pay to each Subscriber an amount in cash, as partial liquidated damages and not as a penalty (“Liquidated Damages”), equal to 0.5% of the aggregate Purchase Price paid by the Subscriber pursuant to this Subscription Agreement for any Subscribed Shares held by the Subscriber on the Default Date; provided, however, that if such Subscriber fails to provide the Company with any information requested by the Company that is required to be provided in such Registration Statement with respect to such Subscriber as set forth herein, then, for purposes of this Section 5, the Filing Date or Effectiveness Date, as applicable, for a Registration Statement with respect to such Subscriber shall be extended until two (2) Business Days following the date of receipt by the Company of such required information from such Subscriber; and in no event shall the Company be required hereunder to pay to such Subscriber pursuant to this Subscription Agreement an aggregate amount that exceeds 5.0 % of the aggregate Purchase Price paid by such Subscriber for its Subscribed Shares. The Liquidated Damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure of a Registration Default, except in the case of the first Default Date. The Company shall deliver the cash payment to such Subscriber with respect to any Liquidated Damages by the fifth Business Day after the date payable. If the Company fails to pay said cash payment to such Subscriber in full by the fifth Business Day after the date payable, the Company will pay interest thereon at a rate of 5.0% per annum (or such lesser maximum amount that is permitted to be paid by applicable law, and calculated on the basis of a year consisting of 360 days) to such Subscriber, accruing daily from the date such Liquidated Damages are due until such amounts, plus all such interest thereon, are paid in full. Notwithstanding the foregoing, nothing shall preclude any Subscriber from pursuing or obtaining any available remedies at law, specific performance or other equitable relief with respect to this Section 5 in accordance with applicable law. The parties agree that notwithstanding anything to the contrary herein, no Liquidated Damages shall be payable to any Subscriber with respect to any period during which all of such Subscriber’s Subscribed Shares may be sold by such Subscriber without volume or manner of sale restrictions under Rule 144 and the Company is in compliance with the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable).
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c. In the case of the registration, qualification, exemption or compliance effected by the Company pursuant to this Agreement, the Company shall, upon reasonable request, inform the Subscribers as to the status of such registration, qualification, exemption and compliance. At its expense the Company shall:
(i) except for such times as the Company is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities laws which the Company determines to obtain, continuously effective with respect to the Subscribers, and to keep the applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of the following: (i) the Subscribers cease to hold any Subscribed Shares or (ii) the date all Subscribed Shares held by the Subscribers may be sold without restriction under Rule 144, including, without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule 144 and without the requirement for the Company to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (iii) three years from the Effective Date of the Registration Statement. The period of time during which the Company is required hereunder to keep a Registration Statement effective is referred to herein as the “Registration Period.”
(ii) advise each Subscriber within five (5) Business Days:
(1) | when a Registration Statement or any amendment thereto has been filed with the Commission and when such Registration Statement or any post-effective amendment thereto has become effective; |
(2) | of any request by the Commission for amendments or supplements to any Registration Statement or the prospectus included therein or for additional information; |
(3) | of the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; |
(4) | of the receipt by the Company of any notification with respect to the suspension of the qualification of the Subscribed Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and |
(5) | subject to the provisions this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading; |
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(6) | Notwithstanding anything to the contrary set forth herein, the Company shall not, when so advising the Subscribers of such events, provide the Subscribers with any material, nonpublic information regarding the Company. |
(iii) use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement as soon as reasonably practicable;
(iv) upon the occurrence of any event contemplated above, except for such times as the Company is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, the Company shall use its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Subscribed Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;
(v) use its commercially reasonable efforts to cause all Subscribed Shares to be listed on each securities exchange or market, if any, on which equity securities issued by the Company have been listed;
(vi) use its commercially reasonable efforts to take all other steps necessary to effect the registration of the Subscribed Shares contemplated hereby and to enable the Subscribers to sell their Subscribed Shares under Rule 144.
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d. Notwithstanding anything to the contrary in this Subscription Agreement, the Company shall be entitled to delay or postpone the effectiveness of the Registration Statement, and from time to time to require any Subscriber not to sell under the Registration Statement or to suspend the effectiveness thereof, if the negotiation or consummation of a transaction by the Company or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event the Company’s board of directors reasonably believes, upon the advice of legal counsel, would require additional disclosure by the Company in the Registration Statement of material information that the Company has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected, in the reasonable determination of the Company’s board of directors, upon the advice of legal counsel, to cause the Registration Statement to fail to comply with applicable disclosure requirements (each such circumstance, a “Suspension Event”); provided, however, that the Company may not delay or suspend the Registration Statement on more than two occasions or for more than sixty (60) consecutive calendar days, or more than ninety (90) total calendar days, in each case during any twelve-month period. Upon receipt of any written notice from the Company of the happening of any Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made (in the case of the prospectus) not misleading, each Subscriber agrees that (i) it will immediately discontinue offers and sales of the Subscribed Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until such Subscriber receives copies of a supplemental or amended prospectus (which the Company agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise notified by the Company that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by the Company unless otherwise required by law or subpoena. If so directed by the Company, each Subscriber will deliver to the Company or, in such Subscriber’s sole discretion destroy, all copies of the prospectus covering the Subscribed Shares in such Subscriber’s possession; provided, however, that this obligation to deliver or destroy all copies of the prospectus covering the Subscribed Shares shall not apply (i) to the extent such Subscriber is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (b) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored electronically on archival servers as a result of automatic data back-up.
e. Any Subscriber may deliver written notice (including via email in accordance with Section 8(l)) (an “Opt-Out Notice”) to the Company requesting that such Subscriber not receive notices from the Company otherwise required by this Section 5; provided, however, that such Subscriber may later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from a Subscriber (unless subsequently revoked), (i) the Company shall not deliver any such notices to that Subscriber and such Subscriber shall no longer be entitled to the rights associated with any such notice and (ii) each time prior to such Subscriber’s intended use of an effective Registration Statement, such Subscriber will notify the Company in writing at least two (2) Business Days in advance of such intended use, and if a notice of a Suspension Event was previously delivered (or would have been delivered but for the provisions of this Section 5(e)) and the related suspension period remains in effect, the Company will so notify such Subscriber, within one (1) Business Day of such Subscriber’s notification to the Company, by delivering to such Subscriber a copy of such previous notice of Suspension Event, and thereafter will provide such Subscriber with the related notice of the conclusion of such Suspension Event immediately upon its availability.
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f. The Company shall, notwithstanding any termination of this Subscription Agreement, indemnify, defend and hold harmless each Subscriber (to the extent a seller under the Registration Statement), the officers, directors, agents, partners, members, managers, stockholders, affiliates, employees and investment advisers of each of them, each person who controls such Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, partners, members, managers, stockholders, agents, affiliates, employees and investment advisers of each such controlling person, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based upon (i) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, any prospectus included in the Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading, or (ii) any violation or alleged violation by the Company of the Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the performance of its obligations under this Section 5, except to the extent, but only to the extent, that such untrue statements, alleged untrue statements, omissions or alleged omissions are based upon information regarding such Subscriber furnished in writing to the Company by such Subscriber expressly for use therein. The Company shall notify such Subscriber promptly of the institution, threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this Section 5 of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive the transfer of the Subscribed Shares by such Subscriber.
g. Each Subscriber shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers, agents and employees, each person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling persons, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any prospectus included in the Registration Statement, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading to the extent, but only to the extent, that such untrue statements or omissions are based upon information regarding such Subscriber furnished in writing to the Company by such Subscriber expressly for use therein. In no event shall the liability of any Subscriber be greater in amount than the dollar amount of the net proceeds received by such Subscriber upon the sale of the Subscribed Shares giving rise to such indemnification obligation.
h. No Subscriber shall execute any short sales or engage in other hedging transactions of any kind with respect to securities of the Company during the period from the date of the Closing through the date that is 45 consecutive days thereafter.
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6. Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with its terms, (b) upon the mutual written agreement of the Company and each Subscriber to terminate this Subscription Agreement, or (c) if, on the Closing Date of the Transaction, any of the conditions to Closing set forth in Section 2 of this Subscription Agreement have not been satisfied as of the time required hereunder to be so satisfied or waived by the party entitled to grant such waiver and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated; provided, that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such breach. The Company shall notify each Subscriber of the termination of the Transaction Agreement promptly after the termination thereof.
7. Trust Account Waiver. Each Subscriber acknowledges that the Company is a blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Company and one or more businesses or assets. Each Subscriber further acknowledges that, as described in the Company’s prospectus relating to its initial public offering dated November 2, 2017 (the “Prospectus”) available at xxx.xxx.xxx, substantially all of the Company’s assets consist of the cash proceeds of the Company’s initial public offering and private placements of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”) for the benefit of the Company, its public stockholders and the underwriters of the Company’s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. For and in consideration of the Company entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, each Subscriber, solely on behalf of itself and its officers, directors and affiliates, hereby irrevocably waives any and all right, title and interest, or any claim of any kind they have or may have in the future, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription Agreement.
8. Miscellaneous.
a. All notices, requests, demands, claims, and other communications hereunder shall be in writing. Any notice, request, demand, claim, or other communication hereunder shall be deemed duly given (a) when delivered personally to the recipient, (b) when sent by electronic mail, on the date of transmission to such recipient; provided, that such notice, request, demand, claim or other communication is also sent to the recipient pursuant to clauses (a), (c) or (d) of this Section 8(a), (c) one (1) Business Day after being sent to the recipient by reputable overnight courier service (charges prepaid), or (d) four (4) Business Days after being mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid, and, in each case, addressed to the intended recipient at its address specified on the signature page hereof.
b. Each Subscriber acknowledges that the Company and others (including Strike) will rely on the acknowledgments, understandings, agreements, representations and warranties contained in this Subscription Agreement. Prior to the Closing, each Subscriber agrees to promptly notify the Company if it becomes aware that any of the acknowledgments, understandings, agreements, representations and warranties of such Subscriber set forth herein are no longer accurate in all material respects. The Company acknowledges that each Subscriber and others will rely on the acknowledgments, understandings, agreements, representations and warranties contained in this Subscription Agreement. Prior to the Closing, the Company agrees to promptly notify each Subscriber if it becomes aware that any of the acknowledgments, understandings, agreements, representations and warranties of the Company set forth herein are no longer accurate in all material respects.
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c. Each of the Company and the Subscribers is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby.
d. Neither this Subscription Agreement nor any rights that may accrue to the Subscribers hereunder (other than the Subscribed Shares acquired hereunder, if any) may be transferred or assigned. Neither this Subscription Agreement nor any rights that may accrue to the Company hereunder may be transferred or assigned, provided, that, for the avoidance of doubt, the completion of the Domestication shall not be deemed a transfer or assignment by the Company.
e. All the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall survive the Closing.
f. The Company may request from any Subscriber such additional information as the Company may deem necessary to evaluate the eligibility of such Subscriber to acquire the Subscribed Shares, and such Subscriber shall provide such information as may be reasonably requested, to the extent readily available and to the extent consistent with its internal policies and procedures.
g. This Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed by the party against whom enforcement of such modification, waiver, or termination is sought.
h. No provision of this Subscription Agreement may be amended, modified or waived without the prior written consent of Strike if such amendment, modification or waiver (i) reduces the number of Subscribed Shares, the Per Share Price or the Purchase Price, (ii) imposes new or additional conditions or otherwise expands, amends or modifies any of the conditions to the Closing in a manner that would reasonably be expected to (x) materially impair or delay the Closing (or satisfaction of the conditions to the Closing) or (z) adversely affect the ability of the Company to enforce its rights against under this Subscription Agreement or any of the other definitive agreements with respect thereto or (iii) adds or changes in any material respect any economic or other rights or benefits granted to any Subscriber hereunder in respect of the Subscribed Shares.
i. This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. This Subscription Agreement shall not confer any rights or remedies upon any person other than (i) the parties hereto and their respective successor and assigns and (ii) the persons entitled to indemnification under Section 5 hereof.
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j. Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns.
k. If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect.
l. This Subscription Agreement may be executed and delivered in one or more counterparts (including by facsimile or electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and shall constitute one and the same agreement.
m. The Placement Agent shall be a third party beneficiary of the representations and warranties of the Company set forth in Section 3 hereof and with respect to the representations and warranties of Subscriber set forth in Section 4(h) and 4(i) hereof. This Subscription Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person, except as otherwise set forth in this Section 8(m).
n. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement and to enforce specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or otherwise.
o. This Subscription Agreement shall be governed by, and construed in accordance with, the laws of the state of Delaware, without regard to the principles of conflicts of laws that would otherwise require the application of the law of any other state.
p. EACH PARTY HEREBY WAIVES THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OR RELATED TO THIS SUBSCRIPTION AGREEMENT IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY OR ANY AFFILIATE OF ANY OTHER SUCH PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE. THE PARTIES AGREE THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS SUBSCRIPTION AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS SUBSCRIPTION AGREEMENT.
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q. The parties agree that all disputes, legal actions, suits and proceedings arising out of or relating to this Subscription Agreement must be brought exclusively in the Court of Chancery of the state of Delaware and any state appellate court therefrom within the state of Delaware (or, if the Court of Chancery of the state of Delaware declines to accept jurisdiction over a particular matter, any federal court within the state of Delaware or, in the event each federal court within the state of Delaware declines to accept jurisdiction over a particular matter, any state court within the state of Delaware) (collectively the “Designated Courts”). Each party hereby consents and submits to the exclusive jurisdiction of the Designated Courts. No legal action, suit or proceeding with respect to this subscription agreement may be brought in any other forum. Each party hereby irrevocably waives all claims of immunity from jurisdiction and any objection which such party may now or hereafter have to the laying of venue of any suit, action or proceeding in any Designated Court, including any right to object on the basis that any dispute, action, suit or proceeding brought in the Designated Courts has been brought in an improper or inconvenient forum or venue. Each of the parties also agrees that delivery of any process, summons, notice or document to a party hereof in compliance with section 8(a) of this Subscription Agreement shall be effective service of process for any action, suit or proceeding in a Designated Court with respect to any matters to which the parties have submitted to jurisdiction as set forth above.
[Signature pages follow.]
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IN WITNESS WHEREOF, each of the parties hereto has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the date first set forth above.
SENTINEL ENERGY SERVICES INC. | |||
By: | /s/ Xxxxxxx Xxxxxxx | ||
Name: | Xxxxxxx Xxxxxxx | ||
Title: | Chief Executive Officer | ||
Address for Notices: | |||
000 Xxxxxxxxx Xxxxxx, Xxxxx 0000 | |||
Xxxxxxx, Xxxxx 00000 |
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SUBSCRIBER: | ||
Print Name: Fidelity Contrafund: Fidelity Contrafund | ||
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory | ||
Address for Notices: | ||
Mag & Co. | ||
c/o Brown Brothers Xxxxxxxx & Co. | ||
Attn: Corporate Actions /Vault | ||
000 Xxxxxxxx | ||
Xxx Xxxx, XX 00000 | ||
XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | ||
Name in which shares are to be registered: | ||
Mag & Co fbo Fidelity Contrafund: Fidelity Contrafund |
Number of Subscribed Shares subscribed for: | 5,885,600 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 58,856,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
21 |
SUBSCRIBER: | ||
Print Name: Fidelity Contrafund Commingled Pool | ||
By: Fidelity Management Trust Company, as Trustee | ||
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory | ||
Address for Notices: | ||
Mag & Co. | ||
c/o Brown Brothers Xxxxxxxx & Co. | ||
Attn: Corporate Actions /Vault | ||
000 Xxxxxxxx | ||
Xxx Xxxx, XX 00000 | ||
XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | ||
Name in which shares are to be registered: | ||
Mag & Co fbo Fidelity Contrafund Commingled Pool |
Number of Subscribed Shares subscribed for: | 1,150,700 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 11,507,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
22 |
SUBSCRIBER: | ||
Print Name: Fidelity Contrafund: Fidelity Contrafund K6 | ||
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory | ||
Address for Notices: | ||
The Northern Trust Company | ||
Attn: Fidelity Client Team — GFS Custody, C-1N | ||
000 Xxxxx Xxxxx Xxxxxx | ||
Xxxxxxx, XX 00000 | ||
Fidelity Contrafund: Fidelity Contrafund K6 | ||
Reference Account # F71083 | ||
Email: XXXXXXXXX@XXXX.XXX | ||
Fax number: 000-000-0000 | ||
Name in which shares are to be registered: | ||
Booth & Co FBO Fidelity Contrafund: Fidelity Contrafund K6 |
Number of Subscribed Shares subscribed for: | 239,400 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 2,394,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
23 |
SUBSCRIBER: | ||
Print Name: Fidelity Contrafund: Fidelity Advisor New Insights Fund - Sub A | ||
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory | ||
Address for Notices: | ||
Mag & Co. | ||
c/o Brown Brothers Xxxxxxxx & Co. | ||
Attn: Corporate Actions /Vault | ||
000 Xxxxxxxx | ||
Xxx Xxxx, XX 00000 | ||
XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | ||
Name in which shares are to be registered: | ||
Mag & Co fbo Fidelity Contrafund: Fidelity Advisor New Insights Fund - Sub A |
Number of Subscribed Shares subscribed for: | 970,112 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 9,701,120.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
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SUBSCRIBER: | |
Print Name: | |
Fidelity Insights Investment Trust | |
By its manager Fidelity Investments Canada ULC |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
State Street Bank & Trust | |
XX Xxx 0000 | |
Xxxxxx, Xxxxxxxxxxxxx 00000 | |
Attn: Thisbe & Co Fidelity Insights Investment Trust | |
Email: XXXXXXXXXXXXXX@XxxxxXxxxxx.xxx | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
Thisbe & Co fbo Fidelity Insights Investment Trust |
Number of Subscribed Shares subscribed for: | 156,500 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 1,565,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
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SUBSCRIBER: | |
Print Name: | |
Fidelity Contrafund: Fidelity Flex Opportunistic Insights Fund |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
The Northern Trust Company | |
Attn: Fidelity Client Team — GFS Custody, C-1N | |
000 Xxxxx Xxxxx Xxxxxx | |
Xxxxxxx, XX 00000 | |
Fidelity Contrafund: Fidelity Flex Opportunistic Insights Fund | |
Reference Account # F70646 | |
Email: XXXXXXXXX@XXXX.XXX | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
Booth & Co fbo Fidelity Contrafund: Fidelity Flex Opportunistic Insights Fund |
Number of Subscribed Shares subscribed for: | 1,200 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 12,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
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SUBSCRIBER: | |
Print Name: | |
Fidelity Contrafund: Fidelity Series Opportunistic Insights Fund |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices:
Mag & Co. c/o Brown Brothers Xxxxxxxx & Co. Attn: Corporate Actions /Vault 000 Xxxxxxxx Xxx Xxxx, XX 00000 XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | |
Name in which shares are to be registered: | |
Mag & Co fbo Fidelity Contrafund: Fidelity Series Opportunistic Insights Fund |
Number of Subscribed Shares subscribed for: | 336,800 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 3,368,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
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SUBSCRIBER: | |
Print Name: | |
Variable Insurance Products Fund II: Contrafund Portfolio |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
Mag & Co. | |
c/o Brown Brothers Xxxxxxxx & Co. | |
Attn: Corporate Actions /Vault | |
000 Xxxxxxxx | |
Xxx Xxxx, XX 00000 | |
XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | |
Name in which shares are to be registered: | |
Mag & Co fbo Variable Insurance Products Fund II: Contrafund Portfolio |
Number of Subscribed Shares subscribed for: | 648,795 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 6,487,950.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
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SUBSCRIBER: | |
Print Name: | |
Variable Insurance Products Fund III: Balanced Portfolio |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
X.Xxxxxxxx & Co | |
CIO JPMorgan Chase Bank, N.A | |
X.X. Xxx 00000 | |
Xxxxxx, XX 00000-0000 | |
Email: Xxxxxxxx.xxxx@xxxxxxxx.xxx | |
Xxxxxxxxxxxxxxxxxxx.xxxxxxxx@xxxxxxxx.xxx | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
M Xxxxxxxx & Co fbo Variable Insurance Products Fund III: Balanced Portfolio |
Number of Subscribed Shares subscribed for: | 132,902 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 1,329,020.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
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SUBSCRIBER: | |
Print Name: | |
Fidelity Advisor Series I: Fidelity Advisor Balanced Fund |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
X.Xxxxxxxx & Co | |
CIO JPMorgan Chase Bank, N.A | |
X.X. Xxx 00000 | |
Xxxxxx, XX 00000-0000 | |
Email: Xxxxxxxx.xxxx@xxxxxxxx.xxx | |
Xxxxxxxxxxxxxxxxxxx.xxxxxxxx@xxxxxxxx.xxx | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
M Xxxxxxxx & Co fbo Fidelity Advisor Series I: Fidelity Advisor Balanced Fund |
Number of Subscribed Shares subscribed for: | 105,600 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 1,056,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
30 |
SUBSCRIBER: | |
Print Name: | |
Fidelity Puritan Trust: Fidelity Balanced Fund |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
The Northern Trust Company | |
Attn: Fidelity Client Team — GFS Custody, C-1N | |
000 Xxxxx Xxxxx Xxxxxx | |
Xxxxxxx, XX 00000 | |
Ref: Fidelity Puritan Trust: Fidelity Balanced Fund a/c F57088 | |
Email: XXXXXXXXX@XXXX.XXX | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
Booth & Co fbo Fidelity Puritan Trust: Fidelity Balanced Fund |
Number of Subscribed Shares subscribed for: | 1,041,300 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 10,413,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
31 |
SUBSCRIBER: | |
Print Name: | |
Fidelity Select Portfolios: Natural Gas Portfolio |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
Mag & Co. | |
c/o Brown Brothers Xxxxxxxx & Co. | |
Attn: Corporate Actions /Vault | |
000 Xxxxxxxx | |
Xxx Xxxx, XX 00000 | |
XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | |
Name in which shares are to be registered: | |
Mag & Co fbo Fidelity Select Portfolios: Natural Gas Portfolio |
Number of Subscribed Shares subscribed for: | 11,700 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 117,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
32 |
SUBSCRIBER: | |
Print Name: | |
Fidelity Select Portfolios: Natural Resources Portfolio |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
Mag & Co. | |
c/o Brown Brothers Xxxxxxxx & Co. | |
Attn: Corporate Actions /Vault | |
000 Xxxxxxxx | |
Xxx Xxxx, XX 00000 | |
XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | |
Name in which shares are to be registered: | |
Mag & Co fbo Fidelity Select Portfolios: Natural Resources Portfolio |
Number of Subscribed Shares subscribed for: | 48,900 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 489,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
33 |
SUBSCRIBER: | |
Print Name: | |
FIDELITY CENTRAL INVESTMENT PORTFOLIOS LLC: Fidelity Energy Central Fund |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
X.Xxxxxxxx & Co | |
C/O JPMorgan Chase Bank, N.A | |
X.X. Xxx 00000 | |
Xxxxxx, XX 00000-0000 | |
Email: Xxxxxxxx.xxxx@xxxxxxxx.xxx | |
Xxxxxxxxxxxxxxxxxxx.xxxxxxxx@xxxxxxxx.xxx | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
M Xxxxxxxx & Co fbo Fidelity Central Investment Portfolios LLC: Fidelity Energy Central Fund |
Number of Subscribed Shares subscribed for: | 55,600 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 556,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
34 |
SUBSCRIBER: | |
Print Name: | |
Fidelity Select Portfolios: Energy Portfolio |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
Mag & Co. | |
c/o Brown Brothers Xxxxxxxx & Co. | |
Attn: Corporate Actions /Vault | |
000 Xxxxxxxx | |
Xxx Xxxx, XX 00000 | |
XX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | |
Name in which shares are to be registered: | |
Mag & Co fbo Fidelity Select Portfolios: Energy Portfolio |
Number of Subscribed Shares subscribed for: | 77,000 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 770,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
35 |
SUBSCRIBER: | |
Print Name: | |
Strategic Advisers Core Fund - FIAM Sector Managed Energy Sub | |
By: FIAM LLC as Sub-adviser |
By: | /s/ Xxxxxx Xxxxxxxxx | |
Name: Xxxxxx Xxxxxxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
BNY Mellon | |
Attn: Xxxxxx Xxxxx | |
525 Xxxxxxx Penn Place Rm 0400 | |
Xxxxxxxxxx, XX 00000 | |
Email: XxxxxxxxXxxxxxxxxXxxxxx@xxxxxxxxx.xxx | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
Powhatan & Co., LLC fbo Strategic Advisers Core Fund FIAM Sector Managed Energy Sub |
Number of Subscribed Shares subscribed for: | 38,561 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 385,610.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
36 |
SUBSCRIBER: | |
Print Name: | |
Fidelity Advisor Series VII: Fidelity Advisor Energy Fund |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
Mag & Co. | |
c/o Brown Brothers Xxxxxxxx & Co. | |
Attn: Corporate Actions /Vault | |
000 Xxxxxxxx | |
Xxx Xxxx, XX 00000 | |
XXX.Xxxxxxxx.XX.Xxxxxxxxxxxxx@XXX.xxx | |
Name in which shares are to be registered: | |
Mag & Co fbo Fidelity Advisor Series VII: Fidelity Advisor Energy Fund |
Number of Subscribed Shares subscribed for: | 42,300 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 423,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
37 |
SUBSCRIBER: | |
Print Name: | |
Strategic Advisers Fidelity U.S. Total Stock Fund - FIAM Sector Managed - Energy Sub | |
By: FIAM LLC as Sub-adviser |
By: | /s/ Xxxxxx Xxxxxxxxx | |
Name: Xxxxxx Xxxxxxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
State Street Bank & Trust | |
XX Xxx 0000 | |
Xxxxxx, Xxxxxxxxxxxxx 00000 | |
Attn: WAVECHART CO LLC fbo Strategic Advisers | |
Fidelity U.S. Total Stock Fund - FIAM Sector Managed - | |
Energy Sub | |
Email: XXXXXXXXXXXXXX@XxxxxXxxxxx.xxx | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
WAVECHART CO LLC fbo Strategic Advisers Fidelity U.S. Total Stock Fund - FIAM Sector Managed - Energy Sub |
Number of Subscribed Shares subscribed for: | 43,230 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 432,300.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
38 |
SUBSCRIBER: | |
Print Name: | |
Variable Insurance Products Fund IV: Energy Portfolio |
By: | /s/ Xxxx Xxxxx | |
Name: Xxxx Xxxxx | ||
Title: Authorized Signatory |
Address for Notices: | |
State Street Bank & Trust | |
XX Xxx 0000 | |
Xxxxxx, Xxxxxxxxxxxxx 00000 | |
BANGLE & CO. fbo Variable Insurance Products Fund | |
IV: Energy Porfolio | |
Email: XXXXXXXXXXXXXX@XxxxxXxxxxx.xxx | |
Fax number: 000-000-0000 | |
Name in which shares are to be registered: | |
BANGLE & CO. fbo Variable Insurance Products Fund IV: Energy Porfolio |
Number of Subscribed Shares subscribed for: | 13,800 | |||
Price Per Subscribed Share: | $ | 10.00 | ||
Aggregate Purchase Price: | $ | 138,000.00 |
You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing Notice.
39 |
ANNEX A
ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER
This Annex
A should be completed and signed by Subscriber
and constitutes a part of the Subscription Agreement.
A. |
INSTITUTIONAL ACCREDITED INVESTOR STATUS (Please check the applicable subparagraphs): | |||||
1. | ☐ | Subscriber is are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act, and has marked and initialed the appropriate box on the following page indicating the provision under which it qualifies as an “accredited investor.” | ||||
2. | ☐ | Subscriber is not a natural person. | ||||
C. | AFFILIATE STATUS (Please check the applicable box) | |||||
SUBSCRIBER: | ||||||
☐ | is: | |||||
☐ | is not: | |||||
an “affiliate” (as defined in Rule 144 under the Securities Act) of the Company or acting on behalf of an affiliate of the Company. |
A-1 |
Rule 501(a), in relevant part, states that an “accredited investor” shall mean any person who comes within any of the below listed categories, or who the issuer reasonably believes comes within any of the below listed categories, at the time of the sale of the securities to that person. Subscriber has indicated, by marking and initialing the appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber accordingly qualifies as an “accredited investor.”
☐ | Any bank, registered broker or dealer, insurance company, registered investment company, business development company, or small business investment company; |
☐ | Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; |
☐ | Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000; |
☐ | a corporation, similar business trust, partnership or any organization described in Section 501(c)(3) of the Internal Revenue Code, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; |
☐ | Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, or general partner of a general partner of that issuer; |
☐ | Any natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his purchase exceeds $1,000,000. For purposes of calculating a natural person’s net worth: (a) the person’s primary residence must not be included as an asset; (b) indebtedness secured by the person’s primary residence up to the estimated fair market value of the primary residence must not be included as a liability (except that if the amount of such indebtedness outstanding at the time of calculation exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess must be included as a liability); and (c) indebtedness that is secured by the person’s primary residence in excess of the estimated fair market value of the residence must be included as a liability; |
☐ | Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; |
☐ | Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is directed by a sophisticated person; or |
☐ | Any entity in which all of the equity owners are accredited investors meeting one or more of the above tests. [Specify which tests: ] |
SUBSCRIBER: | ||
Print Name: |
By: | ||
Name: | ||
Title: |
A-2 |
Schedule A
Schedule of Subscribers
Subscriber | Number of Subscribed Shares Subscribed | Aggregate Purchase Price Paid by the Subscriber | ||||||
Fidelity Contrafund: Fidelity Contrafund | 5,885,600 | $ | 58,856,000 | |||||
Fidelity Contrafund Commingled Pool | 1,150,700 | $ | 11,507,000 | |||||
Fidelity Contrafund: Fidelity Contrafund K6 | 239,400 | $ | 2,394,000 | |||||
Fidelity Contrafund: Fidelity Advisor New Insights Fund - Sub A | 970,112 | $ | 9,701,120 | |||||
Fidelity Insights Investment Trust | 156,500 | $ | 1,565,000 | |||||
Fidelity Contrafund: Fidelity Flex Opportunistic Insights Fund | 1,200 | $ | 12,000 | |||||
Fidelity Contrafund: Fidelity Series Opportunistic Insights Fund | 336,800 | $ | 3,368,000 | |||||
Variable Insurance Products Fund II: Contrafund Portfolio | 648,795 | $ | 6,487,950 | |||||
Variable Insurance Products Fund III: Balanced Portfolio | 132,902 | $ | 1,329,020 | |||||
Fidelity Advisor Series I: Fidelity Advisor Balanced Fund | 105,600 | $ | 1,056,000 | |||||
Fidelity Puritan Trust: Fidelity Balanced Fund | 1,041,300 | $ | 10,413,000 | |||||
Fidelity Select Portfolios: Natural Gas Portfolio | 11,700 | $ | 117,000 | |||||
Fidelity Select Portfolios: Natural Resources Portfolio | 48,900 | $ | 489,000 | |||||
FIDELITY CENTRAL INVESTMENT PORTFOLIOS LLC: Fidelity Energy Central Fund | 55,600 | $ | 556,000 | |||||
Fidelity Select Portfolios: Energy Portfolio | 77,000 | $ | 770,000 | |||||
Strategic Advisers Core Fund - FIAM Sector Managed Energy Sub | 38,561 | $ | 385,610 | |||||
Fidelity Advisor Series VII: Fidelity Advisor Energy Fund | 42,300 | $ | 423,000 | |||||
Strategic Advisers Fidelity U.S. Total Stock Fund - FIAM Sector Managed - Energy Sub | 43,230 | $ | 432,300 | |||||
Variable Insurance Products Fund IV: Energy Portfolio | 13,800 | $ | 138,000 |
Sc. A-1 |