SUBSCRIPTION AGREEMENTSubscription Agreement • July 28th, 2006 • Viragen International Inc • Biological products, (no disgnostic substances) • Florida
THIS SUBSCRIPTION AGREEMENT (this “Agreement”) dated as of July , 2006, by and among VIRAGEN INTERNATIONAL, INC., a Delaware corporation (the “Company”), and the subscribers identified on the signature page hereto (each a “Subscriber” and collectively “Subscribers”).
Re: Selling Agreement (the “Agreement”)Viragen International Inc • July 28th, 2006 • Biological products, (no disgnostic substances) • Florida
Viragen International, Inc., a Delaware corporation (the “Seller”), proposes to offer and sell (the “Offering”), to selected investors, upon the terms set forth herein and in the Securities Purchase Agreement and other documents to be supplied to the investors (which collectively, together with the attachments and exhibits thereto, is referred to as the “Offering Document”), a copy of which has been delivered to you, up to 18,000 units (the “Units”) at a price per Unit of $100; with each Unit consisting of one share of Series C 24% Cumulative Preferred Stock and 200 shares of common stock of Viragen International, Inc. The convertible preferred shares have a dividend of 24% per annum payable annually and are redeemable by either the investor or the Company under certain conditions (the “Preferred Stock”). See the Term Sheet attached hereto as Exhibit A for additional detail. (The Units are sometimes referred to hereafter as the “Offered Securities”). Dawson James Securities, Inc. (the
