FORM OF SUBSCRIPTION AGREEMENT MASTERWORKS [ ], LLC A DELAWARE LIMITED LIABILITY COMPANY NOTICE TO INVESTORSSubscription Agreement • December 30th, 2022 • Masterworks 197, LLC • Retail-retail stores, nec • New York
Investing in membership interests represented by Class A ordinary shares (“Shares”) of Masterworks [ ], LLC (the “Company”) involves significant risks. This investment is suitable only for persons who can afford to lose their entire investment and such investment could be illiquid for an indefinite period of time. No public market currently exists for the Shares, and if a public market develops following this offering, it may not continue.
