SUBSCRIPTION AGREEMENT in connection with JBI, INC. A Minimum of $1 Million and up to a Maximum of $10 Million of Aggregate Principal Amount of 12% Secured Promissory Notes (together with Warrants to Purchase Shares of Common Stock)Subscription Agreement • August 30th, 2013 • Jbi, Inc. • Wholesale-electrical appliances, tv & radio sets • New York
This Subscription Agreement (the “Agreement”), is executed by the undersigned (the “Subscriber”) in connection with the offering (the “Offering”) by JBI, Inc., a Nevada corporation (the “Company”), of a minimum of $1 million and up to a maximum of $10 million aggregate principal amount of 12% Secured Promissory Notes due August 31, 2018 (the “Notes”) and Warrants (the “Warrants”) to purchase one million shares (assuming the minimum offering) and up to 10 million shares (assuming the maximum offering) of Common Stock, par value $.001 per share, of the Company (the “Shares”) (the Notes and the Warrants are collectively referred to as the “Offered Securities” and the Offered Securities and the Shares issuable upon the exercise of the Warrants are collectively referred to herein as the “Securities”). The Notes shall be substantially in the form attached hereto as Exhibit A. The Warrants shall be substantially in the form attached hereto as Exhibit B. The obligations under the Note will be
SECURITY AGREEMENTSecurity Agreement • August 30th, 2013 • Jbi, Inc. • Wholesale-electrical appliances, tv & radio sets • New York
This Security Agreement (as amended, restated, supplemented and/or otherwise modified from time to time, this “Agreement”) is dated as of August 29, 2013 (the “Effective Date”) between the lenders executing this Agreement and listed on Schedule A attached hereto as amended from time to time (the “Lenders”), JBI, Inc., a corporation organized under the laws of the State of Nevada (the “Debtor”), Plastic2Oil of NY #1, LLC, a limited liability company organized under the laws of the State of New York (“P2O#1”) and JBI RE #1, Inc., a corporation organized under the laws of the State of New York (“RE#1”, and collectively with P2O#1 and the Debtor the “Grantors”), and Christiana Trust, a division of WSFS Bank, as collateral agent for the Lenders (the “Collateral Agent”).
