SUBSCRIPTION AGREEMENT SHARES OF COMMON STOCK OF
SHARES
OF COMMON STOCK
OF
X.X.X.
TASTE ON DEMAND INC.
X.X.X.
Taste on Demand Inc.
Ladies
and Gentlemen:
The
undersigned (the “Subscriber”) understands that X.X.X. Taste on Demand Inc., a
Nevada corporation (the “Company”), is offering for sale to the Subscriber the
number of shares of the Company’s Common Stock, value per $0.001 (the “Common
Stock”), set forth below the Subscriber’s name on the signature page hereto. The
Subscriber acknowledges that it is not acting on the basis of any
representations or warranties other than those set forth in this subscription
agreement (this “Subscription Agreement”) and understands that the offering of
the Common Stock (the “Offering”) is being made without registration of the
Common Stock under the United States Securities Act of 1933, as amended (the
“Act”), or any securities, “blue sky” or other similar laws of any foreign or
domestic state (“State Securities Laws”), including without limitation, the
jurisdiction in which the Subscriber resides.
The
Subscriber agrees as follows:
1. Subscription.
The
Subscriber hereby tenders this subscription and applies for the purchase of
up
to twenty thousands (20,000) shares of Common Stock at a purchase price of
$0.05
per share for the aggregate purchase price of U.S. $1,000 (the “Purchase
Price”).
2. Payment
for Common Stock.
Payment
of the Purchase Price shall be made simultaneously with the execution and
delivery of this Subscription Agreement. If this subscription is not accepted
or
the Offering is terminated by the Company for any reason, all documents,
together with the Purchase Price (without interest), will be returned to the
Subscriber. If this subscription is accepted by the Company, the Company will
deliver a certificate representing the shares of Common Stock purchased by
the
Subscriber to the Subscriber promptly such acceptance.
3. Certain
Acknowledgments and Agreements of Subscriber.
The
Subscriber understands and acknowledges and agrees that: (i) the Company has
the
unconditional right, exercisable in its sole and absolute discretion, to accept
or reject this Subscription Agreement, in whole or in part, (ii) the
subscription is subject to prior sale, withdrawal, modification, or cancellation
of the Offering by the Company, (iii) the subscription shall not be valid unless
and until accepted by the Company, (iv) this Subscription Agreement shall be
deemed to be accepted by the Company only when it is signed by an authorized
officer of the Company on behalf of the Company and (v) notwithstanding anything
in this Subscription Agreement to the contrary, the Company shall have no
obligation to issue shares of Common Stock to the Subscriber if such issuance
would constitute a violation of the Act or any State Securities
Laws.
4. Representations
and Warranties of Company.
In
order to induce the Subscriber to tender this subscription, the Company hereby
represents and warrants to the Subscriber as follows:
(a)
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Organization,
Good Standing, Corporate Power and Qualification.
The Company is a corporation duly organized, validly existing and
in good
standing under the laws of the State of Nevada and has all requisite
corporate power and authority to carry on its business as presently
conducted and as proposed to be
conducted.
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(b)
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Capitalization.
The authorized capital of the Company consists of 65,000,000 shares
of
Common Stock and 10,000,000 or preferred stock. All of the outstanding
shares of Common Stock have been duly authorized, are fully paid
and
nonassessable and were issued in compliance with all applicable federal
and State Securities Laws.
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(c)
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Authorization.
All corporate action required to be taken by the Company’s Board of
Directors and stockholders in order to authorize the Company to enter
into
this Subscription Agreement, and to issue the Common Stock, has been
taken
or will be taken prior to the acceptance of this subscription. All
action
on the part of the officers of the Company necessary for (i) the
execution
and delivery of the Subscription Agreement, (ii) the performance
of all
obligations of the Company under the Subscription Agreement, and
(iii) the
issuance and delivery of the Common Stock has been taken or will
be taken
prior to acceptance of this subscription. The Subscription Agreement,
when
executed and delivered by the Company, shall constitute valid and
legally
binding obligations of the Company, enforceable against the Company
in
accordance with their respective terms except (y) as limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance, or other laws of general application relating to or affecting
the enforcement of creditors’ rights generally, or (z) as limited by laws
relating to the availability of specific performance, injunctive
relief,
or other equitable remedies.
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(d)
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Valid
Issuance of Common Stock.
The shares of Common Stock subject to this subscription, when issued,
sold
and delivered in accordance with the terms and for the consideration
set
forth in this Agreement, will be validly issued, fully paid and
nonassessable and free of restrictions on transfer other than restrictions
on transfer under the Stockholders Agreement, applicable state and
federal
securities laws and liens or encumbrances created by or imposed by
a
Subscriber. Assuming the accuracy of the representations in Section
5
of
this Agreement and subject to the filings described in Section
4(e)
below, the shares of Common Stock subject to this subscription will
be
issued in compliance with all applicable federal and State Securities
Laws.
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(e)
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Governmental
Consents and Filings.
Assuming the accuracy of the representations in Section
5
of
this Agreement, no consent, approval, order or authorization of,
or
registration, qualification, designation, declaration or filing with,
any
federal, state or local governmental authority is required on the
part of
the Company in connection with the consummation of the transactions
contemplated by this Agreement, except for filings pursuant to Regulation
D of the Securities Act.
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5. Representations
and Warranties of Subscriber.
In
order to induce the Company to accept this subscription, the Subscriber hereby
represents and warrants to the Company as follows:
(a)
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The
Subscriber (i) is an “Accredited Investor” as defined in Rule 501 of
Regulation D under the United States Securities Act of 1933 (the
“Securities
Act”);
or (ii) by reason of the Subscriber’s business or financial experience (or
the business or financial experience of the Subscriber’s professional
advisors who are unaffiliated with and who are not compensated by
the
Company or any affiliate or selling agent of the Company, directly
or
indirectly), has the capacity to protect the Subscriber’s interests in
connection with the proposed purchase of Common
Stock;
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(b)
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SUBSCRIBER
HAS RECEIVED, READ CAREFULLY AND UNDERSTANDS THIS AGREEMENT AND ALL
EXHIBITS AND APPENDICES HERETO AND HAS HAD AN ADEQUATE OPPORTUNITY
TO
CONSULT SUBSCRIBER’S OWN ATTORNEY, ACCOUNTANT OR INVESTMENT ADVISOR WITH
RESPECT TO THE INVESTMENT CONTEMPLATED HEREBY AND ITS SUITABILITY
FOR
SUBSCRIBER;
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(c)
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The
Company has provided the Subscriber and his or her representative,
if any,
prior to the purchase of any of the Common Stock, with the opportunity
to
ask questions of, and receive answers from, representatives of the
Company
concerning the financial data and business of the Company and to
obtain
any additional information necessary to verify the information relative
to
the financial data and business of the Company, and all such questions,
if
asked, have been answered satisfactorily and all such documents,
if
examined, have been found to be fully satisfactory. The Subscriber
is
satisfied that he or she has received adequate information concerning
all
matters which he or she considers material to a decision to purchase
the
Common Stock;
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(d)
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Subscriber
understands and acknowledges that (i) Subscriber must bear the economic
risk of an investment in the Common Stock for an indefinite period
of
time; (ii) the Common Stock have not been registered under the Securities
Act or any State Securities Laws and are being offered and sold in
reliance upon exemptions provided in the Securities Act and State
Securities Laws for transactions not involving any public offering
and,
therefore, the Common Stock may not be resold or transferred unless
they
are subsequently registered under the Securities Act and applicable
State
Securities Laws or unless an exemption from such registration is
available; and (iii) Subscriber is purchasing the Common Stock, and
any
purchase of the Common Stock will be, for investment purposes only
for
Subscriber’s account and not with any view toward a distribution
thereof;
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(e)
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Subscriber
is aware and acknowledges that: (i) an investment in the Common Stock
is
speculative and involves a risk of loss of the entire investment
and no
assurance can be given of any income from such investment; (ii)
the
Company has not made and cannot make any representation or warranty
as to
the future operations or financial condition of the Company; (iii)
any
estimates of future operating results or financial forecasts of any
kind
with respect to the Company which may be contained in any documents
or
information furnished to the Subscriber may not be realized; (iv)
that
such estimates or forecasts are based on assumptions which may or
may not
occur; (vi) that no assurances can be given that the actual results
of
Company operations or the financial condition of the Company will
conform
to such estimates or forecasts and that therefore the Subscriber
should
not rely thereon; (vii) that the Company is a start up business and
it has
never shown a profit; (viii) that there is no assurance that the
Company’s
operations will be profitable or will produce a positive cash flow;
(ix)
that the Company may operate at a loss for the foreseeable future;
and (x)
there
is no public market for, and there are substantial restrictions on
the
transferability of, the Common Stock and it may not be possible for
Subscriber to liquidate the investment readily in case of an
emergency;
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(f)
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Subscriber
has adequate means of providing for all current and foreseeable needs
and
personal contingencies and has no need for liquidity in this investment;
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(g)
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Subscriber
maintains a domicile or business at the address shown on the signature
page of this Subscription Agreement, at which address Subscriber
has
subscribed for the Common Stock;
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(h)
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Subscriber
has such knowledge and experience in financial and business matters
that
he, she or it is capable of evaluating the merits and risks of an
investment in the Company. Subscriber has evaluated the risk of investing
in the Common Stock, and has determined that the Common Stock are
a
suitable investment for Subscriber. Subscriber can bear the economic
risk
of the investment and can afford a complete loss of the investment.
In
evaluating the suitability of any investment in the Common Stock,
Subscriber has not relied upon any representations or other information
(whether oral or written) other than independent investigations made
by
Subscriber or Subscriber’s representative(s).;
and
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(i)
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The
information set forth on signature page of this Agreement is true
and
accurate to the best of the Subscriber’s knowledge and belief. Subscriber
understands that the Company will rely on the accuracy and completeness
of
such information.
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6. Survival
and Indemnification.
All
representations, warranties and covenants contained in this Agreement or any
other documents executed and delivered in connection therewith and the
indemnification contained in this Paragraph 6 shall survive (i) the acceptance
of this Subscription Agreement by the Company, (ii) changes in the transactions,
documents and instruments described herein, and (iii) the death, disability
or
dissolution of the Subscriber. The Subscriber acknowledges the meaning and
legal
consequences of the representations, warranties and covenants in determining
the
Subscriber’s qualification and suitability to acquire the Common Stock. The
Subscriber hereby agrees to indemnify, defend and hold harmless the Company,
and
its officers, directors, employees, agents and controlling persons, from and
against any and all losses, claims, damages, liabilities, expenses (including
attorneys’ fees and disbursements), judgments or amounts paid in settlement of
actions arising out of or resulting from the untruth of any representation
herein or the breach of any warranty, covenant or acknowledgment made herein
by
the Subscriber shall in any manner be deemed to constitute a waiver of any
rights granted to it under the Act or any State Securities Laws.
7. Legends.
Subscriber acknowledges and agrees that any certificate evidencing the Common
Shares will bear substantially the following legend, and/or such other legends
as the Company’s legal counsel determines are necessary:
THE
SHARES OF COMMON STOCK REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES ACT”) OR ANY STATE
SECURITIES COMMISSION AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A
VIEW
TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR
DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED
THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT
SUCH
REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT.
8. Notices.
All
notices and other communications provided for herein shall be in writing and
shall be deemed to have been duly given if delivered personally or sent by
registered or certified mail, return receipt requested, postage prepaid,
confirmed electronic mail or facsimile, or overnight air courier guaranteeing
next day delivery:
(a)
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if
to the Company, to it at the following
address:
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00
Xxxxxxxx Xxxxxx, Xxxx, Xxxxxx, 00000
(b)
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if
to the Subscriber, to the address set forth on the signature page
hereto,
or at such other address as either party shall have specified by
notice in
writing to the other.
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9. Assignability.
This
Subscription Agreement is not assignable by the Subscriber, and may not be
modified, waived or terminated except by an instrument in writing signed by
the
party against whom enforcement of such modifications, waiver or termination
is
sought.
10. Entire
Agreement.
This
Subscription Agreement, together with the Stockholders Agreement, constitutes
the entire agreement of the Subscriber and the Company relating to the matters
contained herein, superseding all prior contracts or agreements, whether oral
or
written.
11. Governing
Law.
This
Subscription Agreement shall be governed and controlled as to the validity,
enforcement, interpretation, construction and effect and in all other aspects
by
the substantive laws of the State of New York, without reference to conflicts
of
laws principles.
12. Severability.
If any
provision of this Subscription Agreement or the application thereof to any
circumstance shall be held invalid or unenforceable to any extent, the remainder
of this Subscription Agreement and the application of such provision to other
subscriptions or circumstances shall not be affected thereby and shall be
enforced to the greatest extent permitted by law.
13. Headings.
The
headings in this Subscription Agreement are inserted for convenience and
indemnification only and are not intended to describe, interpret, defined,
or
limit the scope, extent or intent of this Subscription Agreement or any
provision hereof.
14. Counterparts.
This
Subscription Agreement may be executed in any number of counterparts, each
of
which when so executed and delivered shall be deemed to be an original and
all
of which together shall be deemed to be one and the same agreement.
15. Amendment
and Modification.
This
Subscription Agreement may be amended or modified, or any provision hereof
may
be waived, provided that such amendment or waiver is set forth in writing
executed by the Company and the Subscriber. No course of dealing between or
among any persons having any interest in this Subscription Agreement will be
deemed effective to modify, amend or discharge any part of this Subscription
Agreement or any rights or obligations of any person under or by reason of
this
Subscription Agreement.
16. Miscellaneous.
This
Subscription Agreement (a) shall be binding upon the Subscriber and the heirs,
personal representatives, successors and assigns of Subscriber (provided that
this Agreement and the rights and obligations of Subscriber hereunder are not
transferable or assignable by Subscriber); and (b) shall be governed, construed
and enforced in accordance with the laws of the State of New York without
reference to any principles of conflict of laws (except insofar as affected
by
the state securities or “blue sky” law of the jurisdiction in which the Offering
has been made to Subscriber).
[Signature
page follows]
IN
WITNESS WHEREOF, the undersigned Subscriber has executed this Subscription
Agreement as of the __th
day of
October, 2007.
By
initialing the appropriate space below, the Subscriber hereby represents that
the Subscriber:
_________
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is
a corporation, a business trust, or a partnership, not
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(initials)
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formed
for the specific purpose of acquiring the Units, with
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total
assets in excess of $5,000,000.
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_________
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is
a natural person whose individual net worth, or joint
net
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(initials)
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worth
with his or her spouse, exceeds $ 1,000,000.
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_________
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is
a natural person who had an individual income in excess
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(initials)
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of
$200,000 in each of the two most recent years, or joint
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income
with his or her spouse in excess of $300,000 in each
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of
those years, and has a reasonable expectation of
reaching
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the
same income level in the current year.
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_________
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is
a trust with total assets in excess of $5,000,000, not
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(initials)
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formed
for the specific purpose of acquiring the Units.
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_________
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is
an entity in which all of the equity owners fall within
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(initials)
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one
of the categories set forth
above.
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____________________
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By:__________________________
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Subscriber’s
Full Legal Name
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Signature of Subscriber
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(Please
Print)
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____________________
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____________________
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Residence
Address
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Date
of Execution by Subscriber
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____________________
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City,
State, Country
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____________________
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____________________
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Telephone
Number
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Email
Address
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Please
Check Appropriate Category:
___
Individual
___
Tenants in Common
___
Joint
tenants with right of survivorship
___
As
custodian, trustee or agent for:
Other
(e.g.,
corporation, Company, etc.)
AGREED
TO AND ACCEPTED BY:
X.X.X.
TASTE ON DEMAND INC.
By:_____________________________
Name: Xxxxx Xxxxxx
Title: President
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OFFERED
AMOUNT:
Total
Purchase Price U.S. $ ____________
__
shares of Common Stock
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