SUBSCRIPTION ESCROW AGREEMENTSubscription Escrow Agreement • May 3rd, 2007 • Neah Power Systems, Inc. • Miscellaneous electrical machinery, equipment & supplies • New York
SUBSCRIPTION ESCROW AGREEMENT (the “Agreement”) executed this ___ day of April, 2007, by and among Neah Power Systems, Inc., a Nevada corporation (the “Issuer”), Empire Financial Group, Inc., a Florida corporation (the “Depositor”) and Sterling National Bank, a national banking institution organized and existing under the laws of the United States of America, as escrow agent (“Escrow Agent”).
6,000,000 to $12,000,000 Shares of Common Stock and Warrants NEAH POWER SYSTEMS, INC. UNDERWRITING AGREEMENTUnderwriting Agreement • May 3rd, 2007 • Neah Power Systems, Inc. • Miscellaneous electrical machinery, equipment & supplies • New York
Neah Power Systems, Inc., a Nevada corporation (the “Company”), confirms its agreement, subject to the terms and conditions stated herein, with Empire Financial Group, Inc. (the “Underwriter”), with respect to the engagement of the Underwriter as agent of the Company, on a best efforts basis, for the offer and sale by the Company of a minimum of $6,000,000 and a maximum of $12,000,000 of shares of common stock and warrants (the “Units”). Each Unit consist of (i) one share of the Company’s common stock, par value $.001 per share (the “Common Stock”), (ii) one-fourth of one five-year warrant to purchase one share of Common Stock at an exercise price of $1.10 (a “Class A Warrant”), (iii) one-fourth of one five-year warrant to purchase one share of Common Stock at an exercise price of $1.60 (a “Class B Warrant”), and (iv) one-fourth of one five-year warrant to purchase one share of Common Stock at an exercise price of $2.00 (a “Class C Warrant,” and such Class C Warrants, collectively toge
