<SEC-DOCUMENT>0001615774-17-000300.txt : 20170201
<SEC-HEADER>0001615774-17-000300.hdr.sgml : 20170201
<ACCEPTANCE-DATETIME>20170131181544
ACCESSION NUMBER:		0001615774-17-000300
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170127
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170201
DATE AS OF CHANGE:		20170131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Celsius Holdings, Inc.
		CENTRAL INDEX KEY:			0001341766
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				202745790
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55663
		FILM NUMBER:		17562500

	BUSINESS ADDRESS:	
		STREET 1:		2424 N. FEDERAL HWY
		STREET 2:		SUITE 208
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431
		BUSINESS PHONE:		561-276-2239

	MAIL ADDRESS:	
		STREET 1:		2424 N. FEDERAL HWY
		STREET 2:		SUITE 208
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VECTOR VENTURES CORP.
		DATE OF NAME CHANGE:	20051018
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>s105205_8k.htm
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (date of earliest event reported):
January 27, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CELSIUS HOLDINGS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Nevada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(State or other jurisdiction of incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: black 1pt solid; text-align: center">000-55663</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%; border-bottom: black 1pt solid; text-align: center">20-2745790</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>2424 N Federal Highway, Suite 206. Boca
Raton, Aventura, Florida 33431</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;(Address of principal
executive offices and zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; text-align: center">(561)<B> </B>276-2239</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Registrant&rsquo;s telephone number including area code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">Former Name or Former Address (If Changed Since Last Report)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp; <FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When used in this Current Report on Form
8-K, unless otherwise indicated, the terms &ldquo;<B>the Company</B>,&rdquo; &ldquo;<B>Celsius</B>,&rdquo; &ldquo;<B>we</B>,&rdquo;
&ldquo;<B>us</B>&rdquo; and &ldquo;<B>our</B>&rdquo; refer to Celsius Holdings, Inc. and its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><B>Item 3.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unregistered
Sales of Equity Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Between December 30, 2016 and January 27,
2017, the Company sold and issued an aggregate of 2,399,998 shares of common stock (the &ldquo;<B>Shares</B>&rdquo;) at a purchase
price of $3.00 per Share in a private placement to seven accredited investors (the &ldquo;<B>Investors</B>&rdquo;) pursuant to
Subscription Agreements with each of the Investors. The Investors include entities beneficially owned by three of our principal
shareholders, Carl DeSantis (100,000 Shares), Li Ka Shing (800,000 Shares) and Chau Hoi Shuen Solina (533,333 Shares), and our
directors, William H. Milmoe (100,000 Shares) and Tim Leissner (433,333 Shares). A copy of the form of Subscription Agreement is
attached hereto as <B>Exhibit 10.1</B> and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company issued and sold the Shares
to the Investors in exempt transactions pursuant to Section&nbsp;4(a)(2) the Securities Act of 1933 (the &ldquo;<B>Securities Act</B>&rdquo;)
and Rule&nbsp;506 of Regulation&nbsp;D promulgated thereunder. Each of the Investors represented that it was acquiring the Shares
for investment only and not with a view towards, or for resale in connection with, the public sale or distribution thereof. Accordingly,
the Shares have not been registered under the Securities Act and such securities may not be offered or sold in the United States
absent registration or an exemption from registration under the Securities Act and any applicable state securities laws. No commissions
or placement fees were paid in connection with the offer and sale of the Shares. The net proceeds from the sale of the Shares will
be used for (a) expansion of Celsius&rsquo; Asian distribution efforts; (b) additional domestic marketing and sales activities
for the Company&rsquo;s products; and (c) working capital and other general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a)&nbsp;<FONT STYLE="font-size: 10pt">Exhibits</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid"><B>Exhibit No.</B></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 87%; border-bottom: Black 1pt solid"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Subscription Agreement</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>CELSIUS HOLDINGS, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date:&nbsp;&nbsp;January 31, 2017</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: black 1pt solid">/s/&nbsp;Gerry David</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Gerry David, Chief Executive Officer</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Date:&nbsp;&nbsp;January 31, 2017</TD>
    <TD STYLE="vertical-align: top">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ John Fieldly</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">John Fieldly, Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<TYPE>EX-10.1
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<FILENAME>s105205_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUBSCRIPTION AGREEMENT<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Celsius Holdings, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2424 N Federal Highway, Suite 206</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Boca Raton, Florida 33431</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5pt">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You have informed the undersigned (&ldquo;<B>Purchaser</B>&rdquo;)
that Celsius Holdings, Inc., a Nevada corporation (the &ldquo;<B>Company</B>&rdquo;), intends to raise up to $15,000,000 (the &ldquo;<B>Offering</B>&rdquo;)
on a &ldquo;<B>private placement</B>&rdquo; basis from a limited number of persons who qualify as &ldquo;<B>accredited investors&rdquo;
</B>as defined in Regulation D under the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;), by selling
up to 5,000,000 shares of its common stock, $0.001 par value (the &ldquo;<B>Shares</B>&rdquo;) at a purchase price of $3.00 per
Share (the &ldquo;<B>Purchase Price</B>&rdquo;). The minimum investment in the Offering is $300,000 (100,000 Shares), which minimum
may be waived in the Company&rsquo;s discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Purchaser understands that Purchaser&rsquo;s
rights and responsibilities as a Purchaser will be governed by the terms and conditions of the Company&rsquo;s Private Placement
Term Sheet dated December 20, 2016, including this subscription agreement (the &ldquo;<B>Subscription Agreement</B>&rdquo;) and
the other Exhibits thereto (the &ldquo;<B>Term Sheet</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Subscription Agreement is one of a
number of such subscriptions for Shares. By signing this Subscription Agreement and returning it to the Company together with payment
of the Purchase Price for the Shares by wire transfer (in accordance with the instructions attached as <B>Exhibit D</B> to the
Term Sheet), Purchaser offers to purchase and subscribe from the Company the Shares in the principal amount set forth in this Subscription
Agreement on the terms specified herein. The Company reserves the right, in its complete discretion, to reject any subscription
offer or to reduce the number of Shares allotted to Purchaser. If this offer is accepted, the Company will execute a copy of this
Subscription Agreement and return it to Purchaser, together with a certificate evidencing the Shares purchased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Shares are being offered for sale on
a &ldquo;<B>best efforts</B>&rdquo; basis. Accordingly, no minimum number of Shares will need to be subscribed for in order for
the Company to consummate the sale of any of the Shares and utilize the proceeds therefrom. The Shares will be offered by Company
management, who will not be compensated for the sale of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Offering will end on January 31, 2017,
unless extended or earlier terminated by the Company at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company also reserves the right to
withdraw, cancel or modify the Offering and to reject any subscriptions, in whole or in part, in its sole discretion. In the event
a subscription is rejected by the Company, all funds delivered with such subscription will be returned to the prospective investor
as soon as practicable without interest thereon or deduction therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Representations
and Warranties of Purchaser</U></B>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser represents and warrants
to the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
is an &ldquo;<B>accredited investor</B>&rdquo; as defined in the Securities Act because Purchaser qualifies within one of the following
categories (please check the appropriate category):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 16%; padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 3%; padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 15%; padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 1.</b></font></td>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 64%; padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A bank, as defined in Section 3(a)(2) of the Securities Act, whether acting in its individual or fiduciary capacity; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 2.</b></font></td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 3.</b></font></td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A broker or dealer registered pursuant to Section 15 of the United States Securities Exchange Act of 1934, as amended; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 4.</b></font></td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An insurance company as defined in Section 2(a)(13) of the Securities Act; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 5.</b></font></td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An investment company registered under the United States Investment Company Act of 1940, as amended; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 6.</b></font></td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A business development company as defined in Section 2(a)(48) of the United States Investment Company Act of 1940, as amended; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 7.</b></font></td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A small business investment company licensed by the U.S. Small Business Administration under Section 301 (c) or (d) of the United States Small Business Investment Act of 1958, as amended; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 8.</b></font></td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, with total assets in excess of $5,000,000; or</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 16%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 15%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 9.</b></font></td>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 64%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An employee benefit plan within the meaning of the United States Employee Retirement Income Security Act of 1974, as amended, in which the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company or registered investment adviser, or an employee benefit plan with total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons who are <b>&ldquo;accredited investors</b>,<b>&rdquo;</b> as such term is defined in Rule 501(a) of Regulation D under the Securities Act; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 10.</b></font></td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A private business development company as defined in Section 202(a)(22) of the United States Investment Advisers Act of 1940, as amended; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 11.</b></font></td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An organization described in Section 501(c)(3) of the United States Internal Revenue Code of 1986, as amended, a corporation, a Massachusetts or similar business trust, a limited liability company or a partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 12.</b></font></td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any director or executive officer of the Company; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 13.</b></font></td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A natural person whose individual net worth, or joint net worth with that person&rsquo;s spouse, at the date hereof exceeds $1,000,000 (<b><u>Note</u></b>: For purposes of calculating <b>&ldquo;net worth&rdquo;</b> under this paragraph: (i) the person&rsquo;s primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person&rsquo;s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of the sale of securities exceeds the amount outstanding sixty (60) days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (iii) indebtedness that is secured by the person&rsquo;s primary residence in excess of the estimated fair market value of the primary residence at the time of the sale of securities shall be included as a liability.); or</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 16%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 15%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 14.</b></font></td>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 64%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person&rsquo;s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 15.</b></font></td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act; or</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Category 16.</b></font></td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any entity in which all of the equity owners meet the requirements of at least one of the above categories.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
(i)&nbsp;has adequate means of providing for Purchaser&rsquo;s current needs and possible contingencies and Purchaser has no need
for liquidity of Purchaser&rsquo;s investment in the Shares; (ii) can bear the economic risk of losing the entire amount of Purchaser&rsquo;s
investment in the Shares; and (iii) has such knowledge and experience that Purchaser is capable of evaluating the relative risks
and merits of this investment. The purchase of the Securities is consistent, in both nature and amount, with Purchaser&rsquo;s
overall investment program and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
is a sophisticated, experienced investor, capable of determining and understanding the risks and merits of this investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
has received and read, and is familiar with the Term Sheet. All other publicly available documents, records and books pertaining
to the Company and the Offering requested by Purchaser, have been made available or delivered to Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
has had the opportunity to ask questions of and receive answers from the Company&rsquo;s officers and representatives concerning
the Company&rsquo;s affairs in general and the terms and conditions of the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
understands that there are significant risks implicit in the business of the Company including without limitation, those set forth
in the Term Sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
than as set forth in the Term Sheet, no person or entity has made any representation or warranty whatsoever with respect to any
matter or thing concerning the Company and the Offering and Purchaser is purchasing the Shares based solely upon Purchaser&rsquo;s
own investigation and evaluation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
understands that the Shares have not been registered under the Securities Act or applicable state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Shares are being acquired solely for Purchaser&rsquo;s own account, for investment and are not being purchased with a view to or
for their resale or distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
is aware of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Shares are a speculative investment which involves a high degree or risk;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an
investment in the Shares is not readily transferable and it may not be possible for Purchaser to liquidate the investment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
are substantial restrictions on the transferability of the Shares under the Securities Act and applicable state securities laws;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
federal or state agency has made any finding or determination as to the fairness of the Shares for public investment nor any recommendation
or endorsement of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser
has the full right, power and authority to execute and deliver this Subscription Agreement and perform Purchaser&rsquo;s obligations
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
approval, authorization, consent, order of other action of, or filing with, any person, firm or corporation or any court, administrative
agency or other governmental authority is required in connection with the execution and delivery of this Subscription Agreement
by Purchaser or the consummation of the sale and purchase of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2<B>.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Transferability</U></B>.<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Purchaser
understands that Purchaser may sell or otherwise transfer the Shares only if registered under the Securities Act and applicable
state securities laws or Purchaser provides the Company with an opinion of counsel acceptable to the Company to the effect that
such sale or other transfer may be made in absence of registration under the Securities Act, and applicable state securities laws.
Purchaser has no right to cause the Company to register the Shares under the Securities Act and applicable state securities laws.
The certificates evidencing the Shares will contain a legend reflecting this restriction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Indemnification</U></B>.<B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Purchaser agrees to indemnify and hold harmless the Company and its directors
and officers against and in respect of any and all loss, liability, claim, damage, deficiency, and all actions, suits, proceedings,
demands, assessments, judgments, costs and expenses whatsoever (including, but not limited to, any and all expenses whatsoever,
including attorneys&rsquo; fees, reasonably incurred in investigating, preparing, or defending against any litigation commenced
or threatened or any claim whatsoever through all appeals) arising out of or based upon any false representation or warranty or
breach or failure by me to comply with any covenant or agreement made by Purchaser in this Subscription Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Termination
of Agreement</U></B>.<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If this Subscription Agreement is rejected by the Company,
then this Subscription Agreement shall be null and void and of no further force and effect, no party shall have any rights against
any other party hereunder, and the Company shall promptly return to Purchaser the funds delivered with this Subscription Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.6pt; text-indent: 30.4pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Miscellaneous</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Subscription Agreement, constitutes the entire agreement between the parties hereto with respect to the subject matter hereof.
This Subscription Agreement supersedes all prior negotiations, letters and understandings relating to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Subscription Agreement may not be amended, supplemented or modified in whole or in part except by an instrument in writing signed
by the party or parties against whom enforcement of any such amendment supplement or modification is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Subscription Agreement will be interpreted, construed and enforced in accordance with the laws of the State of Florida, without
giving effect to the application of the principles pertaining to conflicts of laws. Exclusive jurisdiction for any action arising
under this Agreement shall be in a Federal or state court of competent subject matter jurisdiction in Palm Beach County, Florida.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
failure of any party at any time or times to require performance of any provision of this Subscription Agreement will in no manner
affect the right to enforce the same. The waiver by any party of any breach of any provision of this Agreement will not be construed
to be a waiver by any such party of any succeeding breach of that provision or a waiver by such party of any breach of any other
provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
invalidity, illegality or unenforceability of any provision or provisions of this Subscription Agreement will not affect any other
provision of this Subscription Agreement, which will remain in full force and effect, nor will the invalidity, illegality or unenforceability
of a portion of any provisions of this Subscription Agreement affect the balance of such provision. In the event that any one or
more of the provisions contained in this Subscription Agreement or any portion thereof shall for any reason be held to be invalid,
illegal or unenforceable in any respect, this Subscription Agreement shall be reformed, construed and enforced as if such invalid,
illegal or unenforceable provision had never been contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Should
it become necessary for any party to institute legal action to enforce the terms and conditions of this Subscription Agreement,
the successful party will be awarded reasonable attorneys&rsquo; fees, expenses and costs at both the trial and appellate levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Subscription Agreement will be binding upon and will inure to the benefit of any successor or successors of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Subscription Agreement may be executed in one or more counterparts (including by facsimile or electronic transmission), each of
which will be deemed an original and all of which together will constitute one and the same instrument. If less than a complete
copy of this Subscription Agreement is delivered to the Company, the Company shall be entitled to assume that Purchaser accepts
and agrees with all of the terms and conditions of this Subscription Agreement on the pages not delivered unaltered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Ownership
Information</U></B>.<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Please print here the number of Shares to be
purchased, the Purchase Price and the exact name(s) in which the Shares will be registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of Shares Purchased: $___________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Purchase Price @ $3.00 per Share:&nbsp;&nbsp;<U>________________________________________________</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Purchaser Name(s):&nbsp;&nbsp;____________________________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>_____________________________________________________________</U>_______________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Single
Person</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Husband
and Wife, as community property</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Joint
Tenants (with right of survivorship)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Tenants
in Common</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Corporation
or other organization</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">A
Partnership</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">IRA</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 13pt">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Tax-Qualified
Retirement Plan</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Trust</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustee(s)/Custodian
<U> </U>____________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trust
Date <U> </U>____________________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.5pt; text-indent: -0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name
of Trust <U>__________________________________________________________________</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 35.5pt">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the Benefit of: <U> _______________________________________________________________</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">_____ <FONT STYLE="font-family: Times New Roman, Times, Serif">Other:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1pt solid">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Please explain)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 12%; text-decoration: none"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Social Security or Tax I.D.:&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1pt solid">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Street Address (If P.O. Box, include address for surface delivery
if different than residence)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">City</font></td>
    <TD STYLE="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">State</font></td>
    <TD STYLE="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zip Code</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5pt">Telephone Numbers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 5%; text-decoration: none"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Home:&nbsp;&nbsp; </font></td>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; padding-left: 0.75in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</font></td>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 5%; text-decoration: none"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cell: </font></td>
    <TD STYLE="width: 95%; border-bottom: Black 1pt solid; padding-left: 0.75in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 5%; text-decoration: none"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Facsimile:&nbsp;&nbsp; </font></td>
    <TD STYLE="width: 95%; text-decoration: none; border-bottom: Black 1pt solid; padding-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</font></td></tr>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-decoration: none; width: 5%">Email:&nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-decoration: none; padding-left: 0.5in; width: 95%">&nbsp;</TD></TR>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>Purchaser Signature
Page</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; text-decoration: underline"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><u>Date and Signatures</u></b>.</font></td>
    <TD NOWRAP STYLE="width: 5%; text-decoration: none"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp; </font></td>
    <TD STYLE="width: 45%">_______________<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, 201_</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0"><B>Signature(s)</B></td>
    <TD COLSPAN="2" STYLE="padding-top: 0; padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Print Purchaser Name (s)</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Each co-owner or joint owner must sign &ndash; names must be
signed exactly as listed under &ldquo;<B>Purchaser Name(s)</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Company Counterpart Signature Page</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">ACCEPTED:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CELSIUS HOLDINGS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 5%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </font></td>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 5%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: </font></td>
    <TD STYLE="width: 40%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">____________, 201_</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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