TO SUBSCRIBE, EACH SUBSCRIBER MUST RETURN TO THE FOLLOWING:Subscription Agreement • June 30th, 2005 • Adb Systems International LTD • Services-computer programming, data processing, etc. • Ontario
TO: ADB Systems International Ltd. (the "Corporation") The undersigned (hereinafter referred to as the "Subscriber") hereby confirms its agreement to subscribe for the number of units ("Units") of the Corporation set out below, each Unit consisting of one common share (each a "Common Share") and one half of one non-transferable common share purchase warrant (each a "Warrant"), at a price of $0.23 per Unit, in the aggregate amount as set out below opposite the headings "Number of Units" and "Purchase Price". Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.40 at any time prior to the fourth anniversary of the Closing Date. This subscription is made upon and subject to the terms and conditions set forth in Schedule "A" attached hereto and is subject to the formal terms and conditions of the certificates representing the Common Shares and the Warrants, as the case may be. The particulars of this offering (together with certain other materia
