SUBSCRIPTION AGREEMENT AND INVESTOR RIGHTS AGREEMENT
Exhibit 4
THIS INVESTMENT INVOLVES A HIGH DEGREE OF
RISK. THIS INVESTMENT IS SUITABLE ONLY FOR PERSONS WHO CAN
BEAR THE ECONOMIC RISK FOR AN INDEFINITE PERIOD OF TIME AND WHO CAN
AFFORD TO LOSE THEIR ENTIRE INVESTMENT. FURTHERMORE, INVESTORS MUST
UNDERSTAND THAT SUCH INVESTMENT IS ILLIQUID AND IS EXPECTED TO
CONTINUE TO BE ILLIQUID FOR AN INDEFINITE PERIOD OF TIME. NO PUBLIC
MARKET EXISTS FOR THE SECURITIES, AND NO PUBLIC MARKET IS EXPECTED
TO DEVELOP FOLLOWING THIS OFFERING.
THE SECURITIES OFFERED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR ANY STATE SECURITIES OR BLUE SKY LAWS AND
ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE
REGISTRATION REQUIREMENTS OF THE ACT AND STATE SECURITIES OR BLUE
SKY LAWS. ALTHOUGH AN OFFERING STATEMENT HAS BEEN FILED WITH
THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”),
THAT OFFERING STATEMENT DOES NOT INCLUDE THE SAME INFORMATION THAT
WOULD BE INCLUDED IN A REGISTRATION STATEMENT UNDER THE ACT. THE
SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SEC, ANY
STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE
ANY OF THE FOREGOING AUTHORITIES PASSED UPON THE MERITS OF THIS
OFFERING OR THE ADEQUACY OR ACCURACY OF THE SUBSCRIPTION AGREEMENT
OR ANY OTHER MATERIALS OR INFORMATION MADE AVAILABLE TO SUBSCRIBER
IN CONNECTION WITH THIS OFFERING OVER THE INVESTOR LANDING PAGE
MAINTAINED BY THE COMPANY (THE “PLATFORM”) . ANY
REPRESENTATION TO THE CONTRARY IS UNLAWFUL.
THE SECURITIES CANNOT BE SOLD OR OTHERWISE
TRANSFERRED EXCEPT IN COMPLIANCE WITH THE ACT. IN ADDITION,
THE SECURITIES CANNOT BE SOLD OR OTHERWISE TRANSFERRED EXCEPT IN
COMPLIANCE WITH THE APPLICABLE STATE SECURITIES OR BLUE SKY
LAWS.
INVESTORS WHO ARE NOT “ACCREDITED
INVESTORS” (AS THAT TERM IS DEFINED IN SECTION 501 OF
REGULATION D PROMULGATED UNDER THE ACT) ARE SUBJECT TO LIMITATIONS
ON THE AMOUNT THEY MAY INVEST, AS SET OUT IN SECTION 4. THE
COMPANY IS RELYING ON THE REPRESENTATIONS AND WARRANTIES SET FORTH
BY EACH SUBSCRIBER IN THIS SUBSCRIPTION AGREEMENT AND THE OTHER
INFORMATION PROVIDED BY SUBSCRIBER IN CONNECTION WITH THIS OFFERING
TO DETERMINE THE APPLICABILITY TO THIS OFFERING OF EXEMPTIONS FROM
THE REGISTRATION REQUIREMENTS OF THE ACT.
PROSPECTIVE INVESTORS MAY NOT TREAT THE
CONTENTS OF THE SUBSCRIPTION AGREEMENT, THE OFFERING CIRCULAR OR
ANY OF THE OTHER MATERIALS AVAILABLE ON THE PLATFORM (COLLECTIVELY,
THE “OFFERING MATERIALS”) OR ANY PRIOR OR SUBSEQUENT
COMMUNICATIONS FROM THE COMPANY OR ANY OF ITS OFFICERS, EMPLOYEES
OR AGENTS (INCLUDING “TESTING THE WATERS” MATERIALS) AS
INVESTMENT, LEGAL OR TAX ADVICE. IN MAKING AN INVESTMENT
DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE
COMPANY AND THE TERMS OF THIS OFFERING, INCLUDING THE MERITS AND
THE RISKS INVOLVED. EACH PROSPECTIVE INVESTOR SHOULD CONSULT THE
INVESTOR’S OWN COUNSEL, ACCOUNTANT AND OTHER PROFESSIONAL
ADVISOR AS TO INVESTMENT, LEGAL, TAX AND OTHER RELATED MATTERS
CONCERNING THE INVESTOR’S PROPOSED INVESTMENT.
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THE OFFERING MATERIALS MAY CONTAIN
FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER
THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS
INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE
BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY
AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE
OFFERING MATERIALS, THE WORDS “ESTIMATE,”
“PROJECT,” “BELIEVE,”
“ANTICIPATE,” “INTEND,”
“EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO
IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD
LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S
CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO
RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL
RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE
FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE
UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK
ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT
UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING
STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO
REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
THE COMPANY MAY NOT BE OFFERING THE SECURITIES
IN EVERY STATE. THE OFFERING MATERIALS DO NOT CONSTITUTE AN
OFFER OR SOLICITATION IN ANY STATE OR JURISDICTION IN WHICH THE
SECURITIES ARE NOT BEING OFFERED.
THE INFORMATION PRESENTED IN THE OFFERING
MATERIALS WAS PREPARED BY THE COMPANY SOLELY FOR THE USE BY
PROSPECTIVE INVESTORS IN CONNECTION WITH THIS OFFERING. NO
REPRESENTATIONS OR WARRANTIES ARE MADE AS TO THE ACCURACY OR
COMPLETENESS OF THE INFORMATION CONTAINED IN ANY OFFERING
MATERIALS, AND NOTHING CONTAINED IN THE OFFERING MATERIALS IS OR
SHOULD BE RELIED UPON AS A PROMISE OR REPRESENTATION AS TO THE
FUTURE PERFORMANCE OF THE COMPANY.
THE COMPANY RESERVES THE RIGHT IN ITS SOLE
DISCRETION AND FOR ANY REASON WHATSOEVER TO MODIFY, AMEND AND/OR
WITHDRAW ALL OR A PORTION OF THE OFFERING AND/OR ACCEPT OR REJECT
IN WHOLE OR IN PART ANY PROSPECTIVE INVESTMENT IN THE SECURITIES OR
TO ALLOT TO ANY PROSPECTIVE INVESTOR LESS THAN THE AMOUNT OF
SECURITIES SUCH INVESTOR DESIRES TO PURCHASE. EXCEPT AS
OTHERWISE INDICATED, THE OFFERING MATERIALS SPEAK AS OF THEIR DATE.
NEITHER THE DELIVERY NOR THE PURCHASE OF THE SECURITIES SHALL,
UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT THERE HAS BEEN
NO CHANGE IN THE AFFAIRS OF THE COMPANY SINCE THAT
DATE.
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TO:
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Xxxxx
Xxxxxxx, XX 00000
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Ladies
and Gentlemen:
1.
Subscription.
(a) The
undersigned (“Subscriber”) hereby irrevocably
subscribes for and agrees to purchase Series A Non-Voting Preferred
Stock (the “Securities”), of iConsumer Corp., a
Delaware corporation (the “Company”), at a purchase
price per Security as set out on the signature page to this
Agreement (the “Per Security Price”), upon the terms
and conditions set forth herein. The rights and preferences of the
Securities are as set forth in the Certificate of Designations
filed with the Secretary of State of Delaware on August 12, 2015,
which appears as Exhibit 3.1 to the Company’s Offering
Statement filed with the SEC.
(b) By
executing this Subscription Agreement, Subscriber acknowledges that
Subscriber has received this Subscription Agreement, a copy of the
Offering Statement of the Company filed with the SEC and any other
information required by the Subscriber to make an investment
decision.
(c) This
Subscription may be accepted or rejected in whole or in part, at
any time prior to a Closing Date (as hereinafter defined), by the
Company at its sole discretion. In addition, the Company, at its
sole discretion, may allocate to Subscriber only a portion of the
number of Securities Subscriber has subscribed for. The Company
will notify Subscriber whether this subscription is accepted
(whether in whole or in part) or rejected. If Subscriber’s
subscription is rejected, Subscriber’s payment (or portion
thereof if partially rejected) will be returned to Subscriber
without interest and all of Subscriber’s obligations
hereunder shall terminate.
(d) The
aggregate number of Securities sold shall not exceed 94,573,561
(the “Maximum Offering”). The Company may accept
subscriptions until ___________, 2017, unless otherwise extended by
the Company in its sole discretion in accordance with applicable
SEC regulations for such other period required to sell the Maximum
Units (the “Termination Date”). The Company may elect
at any time to close all or any portion of this offering, on
various dates at or prior to the Termination Date (each a
“Closing Date”).
(e) In the
event of rejection of this subscription in its entirety, or in the
event the sale of the Securities (or any portion thereof) is not
consummated for any reason, this Subscription Agreement shall have
no force or effect, except for Section 5 hereof, which shall remain
in force and effect.
2. Purchase
Procedure.
(a)
Payment. The
purchase price for the Securities shall be paid simultaneously with
the execution and delivery to the Company of the signature page of
this Subscription Agreement. Subscriber shall deliver a signed copy
of this Subscription Agreement, along with payment for the
aggregate purchase price of the Securities by wire transfer or ACH
to an account designated by the Company.
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(b)
Escrow
arrangements. Payment for the Securities shall be received
by Issuer Direct Corp. (the “Escrow Agent”) from the
undersigned by transfer of immediately available funds or other
means approved by the Company at least two days prior to the
applicable Closing, in the amount as set forth in Appendix A on the
signature page hereto. Upon such Closing, the Escrow Agent shall
release such funds to the Company. The undersigned shall receive
notice and evidence of the digital entry of the number of the
Securities owned by undersigned reflected on the books and records
of the Company and verified by Direct Issuer (the “Transfer
Agent”), which books and records shall bear a notation that
the Securities were sold in reliance upon Regulation
A.
3. Representations and
Warranties of the Company.
The
Company represents and warrants to Subscriber that the following
representations and warranties are true and complete in all
material respects as of the date of each Closing Date, except as
otherwise indicated. For purposes of this Agreement, an individual
shall be deemed to have “knowledge” of a particular
fact or other matter if such individual is actually aware of such
fact. The Company will be deemed to have “knowledge” of
a particular fact or other matter if one of the Company’s
current officers has, or at any time had, actual knowledge of such
fact or other matter.
(a)
Organization and
Standing. The Company is a corporation duly formed, validly
existing and in good standing under the laws of the State of
Delaware. The Company has all requisite power and authority to own
and operate its properties and assets, to execute and deliver this
Subscription Agreement, and any other agreements or instruments
required hereunder. The Company is duly qualified and is authorized
to do business and is in good standing as a foreign corporation in
all jurisdictions in which the nature of its activities and of its
properties (both owned and leased) makes such qualification
necessary, except for those jurisdictions in which failure to do so
would not have a material adverse effect on the Company or its
business.
(b) Issuance of the
Securities. The issuance, sale and delivery of the
Securities in accordance with this Subscription Agreement has been
duly authorized by all necessary corporate action on the part of
the Company. The Securities, when so issued, sold and delivered
against payment therefor in accordance with the provisions of this
Subscription Agreement, will be duly and validly issued, fully paid
and non-assessable.
(c) Authority for Agreement.
The execution and delivery by the Company of this Subscription
Agreement and the consummation of the transactions contemplated
hereby (including the issuance, sale and delivery of the
Securities) are within the Company’s powers and have been
duly authorized by all necessary corporate action on the part of
the Company. Upon full execution hereof, this Subscription
Agreement shall constitute a valid and binding agreement of the
Company, enforceable against the Company in accordance with its
terms, except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, and other laws of general application
affecting enforcement of creditors’ rights generally, (ii) as
limited by laws relating to the availability of specific
performance, injunctive relief, or other equitable remedies and
(iii) with respect to provisions relating to indemnification and
contribution, as limited by considerations of public policy and by
federal or state securities laws.
(d)
No filings.
Assuming the accuracy of the Subscriber’s representations and
warranties set forth in Section 4 hereof, no order, license,
consent, authorization or approval of, or exemption by, or action
by or in respect of, or notice to, or filing or registration with,
any governmental body, agency or official is required by or with
respect to the Company in connection with the execution, delivery
and performance by the Company of this Subscription Agreement
except (i) for such filings as may be required under Regulation A
or under any applicable state securities laws, (ii) for such other
filings and approvals as have been made or obtained, or (iii) where
the failure to obtain any such order, license, consent,
authorization, approval or exemption or give any such notice or
make any filing or registration would not have a material adverse
effect on the ability of the Company to perform its obligations
hereunder.
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(e) Capitalization. The
ownership of the Company immediately prior to the initial
investment in the Securities is as set forth in “Security
Ownership of Management and Certain Security Holders” in the
Offering Circular.
(f)
Financial
statements. Complete copies of the Company’s financial
statements consisting of the statement of financial position of the
Company as at December 31, 2015 and the related consolidated
statements of income and cash flows for the two-year period then
ended (the “Financial Statements”) have been made
available to the Subscriber and appear in the Offering Circular.
The Financial Statements are based on the books and records of the
Company and fairly present the financial condition of the Company
as of the respective dates they were prepared and the results of
the operations and cash flows of the Company for the periods
indicated. Xxxxxx LLP, which has audited the Financial Statements,
is an independent accounting firm within the rules and regulations
adopted by the SEC.
(g) Proceeds. The Company
shall use the proceeds from the issuance and sale of the Securities
as set forth in “Use of Proceeds to Issuer” in the
Offering Circular.
(h)
Litigation.
There is no pending action, suit, proceeding, arbitration,
mediation, complaint, claim, charge or investigation before any
court, arbitrator, mediator or governmental body, or to the
Company’s knowledge, currently threatened in writing (a)
against the Company or (b) against any consultant, officer,
manager, director or key employee of the Company arising out of his
or her consulting, employment or board relationship with the
Company or that could otherwise materially impact the
Company.
4. Representations and
Warranties of Subscriber. By executing this Subscription
Agreement, Subscriber (and, if Subscriber is purchasing the
Securities subscribed for hereby in a fiduciary capacity, the
person or persons for whom Subscriber is so purchasing) represents
and warrants, which representations and warranties are true and
complete in all material respects as of the date of each Closing
Date:
(a)
Requisite Power and
Authority. Such Subscriber has all necessary power and
authority under all applicable provisions of law to execute and
deliver this Subscription Agreement, the Operating Agreement and
other agreements required hereunder and to carry out their
provisions. All action on Subscriber’s part required for the
lawful execution and delivery of this Subscription Agreement and
other agreements required hereunder have been or will be
effectively taken prior to the Closing. Upon their execution and
delivery, this Subscription Agreement and other agreements required
hereunder will be valid and binding obligations of Subscriber,
enforceable in accordance with their terms, except (a) as limited
by applicable bankruptcy, insolvency, reorganization, moratorium or
other laws of general application affecting enforcement of
creditors’ rights and (b) as limited by general principles of
equity that restrict the availability of equitable
remedies.
5
(b)
Investment
Representations. Subscriber understands that the Securities
have not been registered under the Securities Act of 1933, as
amended (the “Securities Act”). Subscriber also
understands that the Securities are being offered and sold pursuant
to an exemption from registration contained in the Securities Act
based in part upon Subscriber’s representations contained in
this Subscription Agreement.
(c)
Illiquidity and
Continued Economic Risk. Subscriber acknowledges and agrees
that there is no ready public market for the Securities and that
there is no guarantee that a market for their resale will ever
exist. Subscriber must bear the economic risk of this investment
indefinitely and the Company has no obligation to list the
Securities on any market or take any steps (including registration
under the Securities Act or the Securities Exchange Act of 1934, as
amended) with respect to facilitating trading or resale of the
Securities. Subscriber acknowledges that Subscriber is able to bear
the economic risk of losing Subscriber’s entire investment in
the Securities. Subscriber also understands that an investment in
the Company involves significant risks and has taken full
cognizance of and understands all of the risk factors relating to
the purchase of securities.
(d) Accredited Investor Status or
Investment Limits. Subscriber represents that
either:
(i)
Subscriber is an “accredited investor” within the
meaning of Rule 501 of Regulation D under the Securities Act.
Subscriber represents and warrants that the information set forth
in response to question (c) on the signature page hereto concerning
Subscriber is true and correct; or
(ii) The
purchase price set out in paragraph (b) of the signature page to
this Subscription Agreement, together with any other amounts
previously used to purchase Securities in this offering, does not
exceed 10% of the greater of the Subscriber’s annual income
or net worth.
Subscriber
represents that to the extent it has any questions with respect to
its status as an accredited investor, or the application of the
investment limits, it has sought professional advice.
(e)
Shareholder
information. Within five days after receipt of a request
from the Company, the Subscriber hereby agrees to provide such
information with respect to its status as a shareholder (or
potential shareholder) and to execute and deliver such documents as
may reasonably be necessary to comply with any and all laws and
regulations to which the Company is or may become subject.
Subscriber further agrees that in
the event it transfers any Securities, it will require the
transferee of such Securities to agree to provide such information
to the Company as a condition of such transfer.
(f) Company Information.
Subscriber understands that the Company is subject to all the risks
that apply to early-stage companies, whether or not those risks are
explicitly set out in the Offering Circular. Subscriber has had an
opportunity to discuss the Company’s business, management and
financial affairs with managers, officers and management of the
Company and has had the opportunity to review the Company’s
operations and facilities. Subscriber has also had the opportunity
to ask questions of and receive answers from the Company and its
management regarding the terms and conditions of this investment.
Subscriber acknowledges that except as set forth herein, no
representations or warranties have been made to Subscriber, or to
Subscriber’s advisors or representative, by the Company or
others with respect to the business or prospects of the Company or
its financial condition.
6
(g)
Valuation. The
Subscriber acknowledges that the price of the Securities was set by
the Company on the basis of the Company’s internal valuation
and no warranties are made as to value. The Subscriber further
acknowledges that future offerings of Securities may be made at
lower valuations, with the result that the Subscriber’s
investment will bear a lower valuation.
(h) Domicile. Subscriber
maintains Subscriber’s domicile (and is not a transient or
temporary resident) at the address shown on the signature
page.
(i) No Brokerage Fees. There
are no claims for brokerage commission, finders’ fees or
similar compensation in connection with the transactions
contemplated by this Subscription Agreement or related documents
based on any arrangement or agreement binding upon Subscriber. The
undersigned will indemnify and hold the Company harmless against
any liability, loss or expense (including, without limitation,
reasonable attorneys' fees and out-of-pocket expenses) arising in
connection with any such claim.
(j) Foreign Investors. If
Subscriber is not a United States person (as defined by
Section†7701(a)(30) of the Internal Revenue Code of 1986, as
amended), Subscriber hereby represents that it has satisfied itself
as to the full observance of the laws of its jurisdiction in
connection with any invitation to subscribe for the Securities or
any use of this Subscription Agreement, including (i)†the
legal requirements within its jurisdiction for the purchase of the
Securities, (ii)†any foreign exchange restrictions applicable
to such purchase, (iii)†any governmental or other consents
that may need to be obtained, and (iv)†the income tax and
other tax consequences, if any, that may be relevant to the
purchase, holding, redemption, sale, or transfer of the Securities.
Subscriber’s subscription and payment for and continued
beneficial ownership of the Securities will not violate any
applicable securities or other laws of the Subscriber’s
jurisdiction.
5.
Survival. The
representations, warranties and covenants made by the Subscriber
herein shall survive the closing of this Agreement.
6. Governing Law;
Jurisdiction. This Subscription Agreement shall be governed
and construed in accordance with the laws of the State of New
York.
EACH OF
THE SUBSCRIBERS AND THE COMPANY CONSENTS TO THE JURISDICTION OF ANY
STATE OR FEDERAL COURT OF COMPETENT JURISDICTION LOCATED WITHIN THE
STATE OF FLORIDA AND NO OTHER PLACE AND IRREVOCABLY AGREES THAT ALL
ACTIONS OR PROCEEDINGS RELATING TO THIS SUBSCRIPTION AGREEMENT MAY
BE LITIGATED IN SUCH COURTS. EACH OF SUBSCRIBERS AND THE COMPANY
ACCEPTS FOR ITSELF AND HIMSELF AND IN CONNECTION WITH ITS AND HIS
RESPECTIVE PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE
JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF
FORUM NON CONVENIENS, AND IRREVOCABLY AGREES TO BE BOUND BY ANY
JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS SUBSCRIPTION
AGREEMENT. EACH OF SUBSCRIBERS AND THE COMPANY FURTHER IRREVOCABLY
CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED
COURTS IN THE MANNER AND IN THE ADDRESS SPECIFIED IN SECTION 8 AND
THE SIGNATURE PAGE OF THIS SUBSCRIPTION AGREEMENT.
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EACH OF
THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED IN
CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS
SUBSCRIPTION AGREEMENT OR THE ACTIONS OF EITHER PARTY IN THE
NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT THEREOF,
EACH OF THE PARTIES HERETO ALSO WAIVES ANY BOND OR SURETY OR
SECURITY UPON SUCH BOND WHICH MIGHT, BUT FOR THIS WAIVER, BE
REQUIRED OF SUCH PARTY. EACH OF THE PARTIES HERETO FURTHER WARRANTS
AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL
COUNSEL, AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY
TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER
IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY
OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS
SUBSCRIPTION AGREEMENT. IN THE EVENT OF LITIGATION, THIS
SUBSCRIPTION AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL
BY THE COURT.
7. Notices. Notice,
requests, demands and other communications relating to this
Subscription Agreement and the transactions contemplated herein
shall be in writing and shall be deemed to have been duly given if
and when (a) delivered personally, on the date of such delivery; or
(b) mailed by registered or certified mail, postage prepaid, return
receipt requested, in the third day after the posting thereof; or
(c) emailed, telecopied or cabled, on the date of such delivery to
the address of the respective parties as follows:
If to
the Company, to:
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Xxxxx
Xxxxxxx, XX 00000
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If to
a Subscriber, to Subscriber’s address as shown on the
signature page hereto
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or to
such other address as may be specified by written notice from time
to time by the party entitled to receive such notice. Any notices,
requests, demands or other communications by telecopy or cable
shall be confirmed by letter given in accordance with (a) or (b)
above.
8.
Miscellaneous.
(a) All
pronouns and any variations thereof shall be deemed to refer to the
masculine, feminine, neuter, singular or plural, as the identity of
the person or persons or entity or entities may
require.
(b) This
Subscription Agreement is not transferable or assignable by
Subscriber.
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(c) The
representations, warranties and agreements contained herein shall
be deemed to be made by and be binding upon Subscriber and its
heirs, executors, administrators and successors and shall inure to
the benefit of the Company and its successors and
assigns.
(d) None of
the provisions of this Subscription Agreement may be waived,
changed or terminated orally or otherwise, except as specifically
set forth herein or except by a writing signed by the Company and
Subscriber.
(e) In the
event any part of this Subscription Agreement is found to be void
or unenforceable, the remaining provisions are intended to be
separable and binding with the same effect as if the void or
unenforceable part were never the subject of
agreement.
(f) The
invalidity, illegality or unenforceability of one or more of the
provisions of this Subscription Agreement in any jurisdiction shall
not affect the validity, legality or enforceability of the
remainder of this Subscription Agreement in such jurisdiction or
the validity, legality or enforceability of this Subscription
Agreement, including any such provision, in any other jurisdiction,
it being intended that all rights and obligations of the parties
hereunder shall be enforceable to the fullest extent permitted by
law.
(g) This
Subscription Agreement supersedes all prior discussions and
agreements between the parties with respect to the subject matter
hereof and contains the sole and entire agreement between the
parties hereto with respect to the subject matter
hereof.
(h) The terms
and provisions of this Subscription Agreement are intended solely
for the benefit of each party hereto and their respective
successors and assigns, and it is not the intention of the parties
to confer, and no provision hereof shall confer, third-party
beneficiary rights upon any other person.
(i) The
headings used in this Subscription Agreement have been inserted for
convenience of reference only and do not define or limit the
provisions hereof.
(j) This
Subscription Agreement may be executed in any number of
counterparts, each of which will be deemed an original, but all of
which together will constitute one and the same
instrument.
(k) If any
recapitalization or other transaction affecting the stock of the
Company is effected, then any new, substituted or additional
securities or other property which is distributed with respect to
the Securities shall be immediately subject to this Subscription
Agreement, to the same extent that the Securities, immediately
prior thereto, shall have been covered by this Subscription
Agreement.
(l) No
failure or delay by any party in exercising any right, power or
privilege under this Subscription Agreement shall operate as a
waiver thereof nor shall any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of
any other right, power or privilege. The rights and remedies herein
provided shall be cumulative and not exclusive of any rights or
remedies provided by law.
[SIGNATURE PAGE FOLLOWS]
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SUBSCRIPTION
AGREEMENT SIGNATURE PAGE
The
undersigned, desiring to purchase Series A Non-Voting Preferred
Stock of iConsumer Corp., by executing this signature page, hereby
executes, adopts and agrees to all terms, conditions and
representations of the Subscription Agreement.
(a)
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The
number of shares of Series A non-Voting Preferred Stock the
undersigned hereby irrevocably subscribes for is:
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(print
number of
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Securities)
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(b)
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The
aggregate purchase price (based on a purchase price of $0.09 per
Security) for the Series A non-Voting Preferred Stock the
undersigned hereby irrevocably subscribes for is:
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$_________________________
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(print
aggregatepurchase price)
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(c)
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EITHER
(i) The undersigned is an accredited investor (as that term is
defined in Regulation D under the Securities Act because the
undersigned meets the criteria set forth in the following
paragraph(s) of Appendix A attached hereto:
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(print
applicable number from Appendix A)
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OR (ii)
The amount set forth in paragraph pursuant (b) above (together with
any previous investments in the Securities pursuant to this
offering) does any not exceed 10% of the greater of the
undersigned’s net worth or annual income.
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(d)
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The
Securities being subscribed for will be owned by, and should be
recorded on the Company’s books as held in the name
of:
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___________________________________________
(print
name of owner or joint owners)
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If the
Securities are to be purchased in joint
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names,
both Subscribers must sign:
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Signature
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Signature
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Name
(Please Print)
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Name
(Please Print)
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Email
address
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Email
address
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Address
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Address
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Telephone
Number
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Telephone
Number
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Social
Security Number/EIN
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Social
Security Number
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Date
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Date
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* * * *
*
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This
Subscription is accepted
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on
_____________, 2017
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By:
_________________________________________________
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Name:
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Title:
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APPENDIX
A
An accredited investor includes the following categories of
investor:
(1) Any bank
as defined in section 3(a)(2) of the Act, or any savings and loan
association or other institution as defined in section 3(a)(5)(A)
of the Act whether acting in its individual or fiduciary capacity;
any broker or dealer registered pursuant to section 15 of the
Securities Exchange Act of 1934; any insurance company as defined
in section 2(a) (13) of the Act; any investment company registered
under the Investment Company Act of 1940 or a business development
company as defined in section 2(a)(48) of that Act; any Small
Business Investment Company licensed by the U.S. Small Business
Administration under section 301(c) or (d) of the Small Business
Investment Act of 1958; 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 the investment decision
is made by a plan fiduciary, as defined in section 3(21) of such
act, which is either a bank, savings and loan association,
insurance company, or registered investment adviser, or if the
employee benefit plan has total assets in excess of $5,000,000 or,
if a self-directed plan, with investment decisions made solely by
persons that are accredited investors;
(2) Any
private business development company as defined in section
202(a)(22) of the Investment Advisers Act of 1940;
(3)
Any organization described in section 501(c)(3) of the
Internal Revenue Code, corporation, Massachusetts or similar
business trust, or partnership, not formed for the specific purpose
of acquiring the securities offered, with total assets in excess of
$5,000,000;
(4) 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;
(5) Any
natural person whose individual net worth, or joint net worth with
that person's spouse, exceeds $1,000,000.
(i) Except as
provided in paragraph (a)(5)(ii) of this section, for purposes of
calculating net worth under this paragraph (a)(5):
(A) The
person's primary residence shall not be included as an
asset;
(B)
Indebtedness that is secured by the person's primary
residence, up to the estimated fair market value of the primary
residence at the time of the sale of securities, shall not be
included as a liability (except that if the amount of such
indebtedness outstanding at the time of sale of securities 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 shall 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 primary residence
at the time of the sale of securities shall be included as a
liability;
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(ii)
Paragraph (a)(5)(i) of this section will not apply to any
calculation of a person's net worth made in connection with a
purchase of securities in accordance with a right to purchase such
securities, provided that:
(A) Such
right was held by the person on July 20, 2010;
(B) The
person qualified as an accredited investor on the basis of net
worth at the time the person acquired such right; and
(C) The
person held securities of the same issuer, other than such right,
on July 20, 2010.
(6) 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;
(7)
Any trust, with total assets in excess of $5,000,000, not
formed for the specific purpose of acquiring the securities
offered, whose purchase is directed by a sophisticated person as
described in ß230.506(b)(2)(ii); and
(8) Any
entity in which all of the equity owners are accredited
investors.
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