Exhibit 10.9
 
To subscribe for Units including Common Stock and Warrants
to Purchase Shares of Common Stock in the private offering of

RELMADA THERAPEUTICS, INC.

1.
Date and Fill in the number of units (the “Units”), with each Unit consisting of
six hundred sixty six thousand six hundred sixty six (666,666) shares of  common
stock of RTI (“Common Stock”) and  two Investor Warrants as follows:  (i) an "A"
Warrant to purchase six hundred sixty six thousand six hundred sixty six
(666,666) shares of Common Stock, exercisable at a price of $0.15 per share for
a period of one hundred and twenty (120) days from the date of the final closing
of the Offering (the “A Warrant”), and (ii) a "B" Warrant to purchase three
hundred thirty three thousand three hundred thirty three (333,333) shares of
Common Stock, exercisable at a price of $0.225 per share for a period of five
(5) years from the date of the final closing  (the “B Warrant”) (collectively
with the A Warrant, the “Investor Warrants”), at a negotiated price of $100,000
per Unit being subscribed for and Complete and Sign the Signature Page included
in the Subscription Agreement.

 
2.
Initial the Accredited Investor Certification attached to this Subscription
Agreement.

 
3.
Complete and Sign the Signature Page attached to this Subscription
Agreement.  NOTICE: Please note that by executing the attached Subscription
Agreement, you will be deemed to have (i) executed the Unit Purchase Agreement
(Exhibit B to the Memorandum, as defined below),  (ii) executed the 2014
Investor Rights Agreement (Exhibit D to the Memorandum), (iii) agreed to the
terms of the Warrants (Exhibit C-1 and Exhibit C-2 to the Memorandum), (iv)
executed to the terms of the 2012 Stockholders Agreement (Exhibit E to the
Memorandum), and (v) executed the Share Exchange Agreement (Exhibit F to the
Memorandum) (collectively the “Transaction Documents”), each of which are
attached to the Confidential Private Placement Memorandum, dated May 1, 2014 as
such may amended and/or supplemented from time to time after the date hereof ,
and will be treated for all purposes as if you did sign each such Transaction
Document even though you may not have physically signed the signature pages to
such documents.

 
4.
Complete and Return the attached Investor Questionnaire and, if applicable, Wire
Transfer Authorization attached to this Subscription Agreement.   

 
5.
Return all forms to your Account Executive and then send all signed original
documents with a check (if applicable) to:

 
                  Laidlaw & Co. (UK) Ltd.
                  546 Fifth Avenue
                  5th Floor
                  New York, NY 10036

 
i

--------------------------------------------------------------------------------

 
 
6. 
Please make your subscription payment payable to the order of “Signature Bank,
as Escrow Agent for Relmada Therapeutics, Inc.” Account No. 1502260134

 
For wiring funds directly to the escrow account, use the following instructions:

           Signature Bank
           261 Madison Avenue
           New York, NY 10016
           Acct. Name:              Signature Bank as Escrow Agent for
                                                               Relmada
Therapeutics, Inc.
           ABA Number:          026013576
           SWIFT Code:           SIGNUS33
           A/C Number:           1502260134
           
           FBO:                          Purchaser Name
                               Social Security Number
                                                           Address
 
ALL SUBSCRIPTION DOCUMENTS MUST BE FILLED IN AND SIGNED EXACTLY AS SET FORTH
WITHIN.
 
 
ii

--------------------------------------------------------------------------------

 

SUBSCRIPTION AGREEMENT
 
FOR
 
RELMADA THERAPEUTICS, INC.
 
Relmada Therapeutics, Inc.
c/o Laidlaw & Company (UK), Ltd.
546 Fifth Avenue, 5th Floor
New York, NY 10036

Ladies and Gentlemen:
 
1.  Subscription.  The undersigned (the “Purchaser”) will purchase the number of
units (“Units”) of securities of Relmada Therapeutics, Inc., a Delaware
corporation (the “Company”), set forth on the signature page to this
Subscription Agreement, at a purchase price of $100,000 per Unit, with each Unit
consisting of  (a) 666,666 shares of common stock, par value $0.01 per share, of
the Company (“Common Stock”), and (b) two warrants (collectively, the
“Warrants”, including (i) an A warrant (the “A Warrant”) to purchase 666,666
shares of Common Stock at an exercise price of $0.15 per share (subject to
adjustment) for a period of one hundred and twenty (120) days from the final
closing of the Offering and (ii) a warrant (the “B Warrant”) to purchase 333,333
shares of Common Stock at an exercise price of $0.225 per share (subject to
adjustment) for a period of five (5) years from the date of the final
closing.  The shares of common stock underlying the Warrants may hereinafter be
referred to as the “Warrant Shares”). The Units are being offered (the
“Offering”) by the Company pursuant to the offering terms set forth in the
Company’s Confidential Private Placement Memorandum, dated May 1, 2014, as may
be amended and/or supplemented, from time to time (collectively, the
“Memorandum”).

The Units are being offered on a “reasonable efforts, all or none” basis with
respect to the minimum of $5,000,000 purchase price for the Units (the “Minimum
Offering Amount”) and thereafter on a “reasonable efforts” basis up to the
maximum of $15,000,000 purchase price for the Units (the “Maximum Offering
Amount”); provided that the Placement Agent has an option  to increase the
Offering through the sale, in whole or in part, of an amount of Units equal to
$5,000,000 for a period of 30 days after the receipt of gross proceeds equal to
the Maximum Offering Amount on the same terms and conditions as otherwise set
forth in the Transaction Documents(the “Greenshoe Option”).

The Initial Closing (as defined herein) of this Offering shall be subject to
subscriptions being received from qualified investors and accepted by the
Company.  Upon acceptance by the Company after the date hereof of subscriptions
for the Minimum Offering Amount, Laidlaw & Co. (UK) Ltd. (the “Placement Agent”)
and the Company shall have the right at any time thereafter, prior to the
Termination Date (as defined below), to effect an initial closing with respect
to this Offering (the “Initial Closing”).  Thereafter, the Placement Agent and
the Company shall continue to accept, and continue to have closings (together
with the Initial Closing, each a “Closing”) for, additional subscriptions for
Securities from investors from time to time until the earlier of (i) the date
upon which subscriptions for the Maximum Offering Amount offered hereunder have
been accepted, (ii) July 31, 2014 (subject to the right of the Company and the
Placement Agent to extend the offering until September 1, 2014  without further
notice to investors), except that, if the Maximum Offering Amount is sold and
the Placement Agent exercises the Greenshoe Option, the Offering may continue to
a date no later than September 30, 2014 (the “Termination Date”).

 
1

--------------------------------------------------------------------------------

 
 
The minimum investment amount that may be purchased by an investor is one Unit
at a price of $100,000 (the “Investor Minimum Investment”); provided however,
the Company and the Placement Agent, in their mutual discretion, may accept an
investor subscription for an amount less than the Investor Minimum
Investment.  The subscription for the Units will be made in accordance with and
subject to the terms and conditions of this Subscription Agreement and the
Memorandum.

All subscription funds will be held in a non-interest bearing escrow account in
the Company’s name at Signature Bank (the “Escrow Agent”), 261 Madison Avenue,
New York, New York 10016, or with such other escrow agent as may be appointed by
Placement Agent and the Company (the “Escrow Account”).
 
In the event that (i) subscriptions for the Offering are rejected in whole (at
the sole discretion of the Company and the Placement Agent), (ii) the Minimum
Offering Amount has not been subscribed for prior to the Termination Date, or
(iii) the Offering is otherwise terminated by the Company and the Placement
Agent prior to the Termination Date, then the Escrow Agent will refund all
subscription funds held in the Escrow Account to the persons who submitted such
funds, without interest, penalty or deduction.  If a subscription is rejected in
part (at the sole discretion of the Company or Placement Agent) and the Company
accepts the portion not so rejected, the funds for the rejected portion of such
subscription will be returned without interest, penalty, expense or deduction.
 
The Company and the Placement Agent each reserves the right (but is not
obligated) to allow its employees, agents, officers, directors and affiliates to
purchase Units in the Offering and all such purchases will be counted towards
the Minimum Offering Amount and the Maximum Offering Amount.
 
The terms of the Offering are more completely described in the Memorandum and
such terms are incorporated herein in their entirety.  Certain capitalized terms
used, but not otherwise defined herein, will have the respective meanings
provided in the Memorandum.
 
2.          Payment.  The Purchaser encloses herewith a check payable to, or
will immediately make a wire transfer payment to, “Signature Bank, as Escrow
Agent for Relmada Therapeutics, Inc.,” in the full amount of the purchase price
of the Units being subscribed for.  Together with the check for, or wire
transfer of, the full purchase price, the Purchaser is delivering a completed
and executed Signature Page to this Subscription Agreement along with a
completed and executed Investor Questionnaire, which is attached hereto as
Exhibit A.  By executing this Subscription Agreement (this “Subscription
Agreement”), you will be deemed to have (i) executed the Unit Purchase Agreement
in the form of Exhibit B to the Memorandum (the “Purchase Agreement”), (ii)
executed the 2014 Investor Rights Agreement in the form of Exhibit D to the
memorandum, (iii) agreed to the terms of the Warrants in the forms of Exhibit
C-1 and Exhibit C-2 to the Memorandum, (iv) executed the 2012 Stockholders
Agreement in the form of Exhibit E to the Memorandum, and (v) executed the Share
Exchange Agreement in the form of Exhibit F to the Memorandum (collectively the
“Transaction Documents”), and will be bound by the respective terms of each of
them.  In addition, by executing this Agreement, you acknowledge receipt of the
Company’s powerpoint presentation, dated May 1, 2014.
 
3.           Deposit of Funds.  All payments made as provided in Section 2
hereof will be deposited by the Purchaser as soon as practicable with the Escrow
Agent, or such other escrow agent appointed by Placement Agent and the Company,
in the Escrow Account.  In the event that the Company does not effect a Closing
during the Offering Period, the Escrow Agent will refund all subscription funds,
without deduction and/or interest accrued thereon, and will return the
subscription documents to each Purchaser.  If the Company or Placement Agent
rejects a subscription, either in whole or in part (at the sole discretion of
the Company or Placement Agent), the rejected subscription funds or the rejected
portion thereof will be returned promptly to such Purchaser without interest,
penalty, expense or deduction.
 
 
2

--------------------------------------------------------------------------------

 
          
4.           Acceptance of Subscription.  The Purchaser understands and agrees
that the Company or Placement Agent, its mutual discretion, reserves the right
to accept this or any other subscription for the Units, in whole or in part,
notwithstanding prior receipt by the Purchaser of notice of acceptance of this
or any other subscription.  The Company will have no obligation hereunder until
the Company executes an executed copy of the Subscription Agreement.  If
Purchaser’s subscription is rejected in whole (at the mutual discretion of the
Company and Placement Agent), the Offering is terminated or the Minimum Offering
Amount is not subscribed for and accepted prior to the Termination Date, all
funds received from the Purchaser will be returned without interest, penalty,
expense or deduction, and this Subscription Agreement will thereafter be of no
further force or effect.  If Purchaser’s subscription is rejected in part (at
the mutual discretion of the Company and Placement Agent) and the Company
accepts the portion not so rejected, the funds for the rejected portion of such
subscription will be returned without interest, penalty, expense or deduction,
and this Subscription Agreement will continue in full force and effect to the
extent such subscription was accepted.  The Purchaser may revoke its
subscription and obtain a return of the subscription amount paid to the Escrow
Account at any time before the date of the Initial Closing.  The Purchaser may
not revoke this subscription or obtain a return of the subscription amount paid
to the Escrow Agent on or after the date of the Initial Closing.  Any
subscription received after the Initial Closing but prior to the Termination
Date shall be irrevocable.
 
5.            Representations and Warranties of the Purchaser.  The Purchaser
hereby acknowledges, represents, warrants, and agrees as follows:
 
(a)           None of the Units, the Common Stock, the Warrants or the Warrant
Shares (collectively referred to hereafter as the “Securities”) are registered
under the Securities Act of 1933, as amended (the “Securities Act”), or any
state securities laws.  The Purchaser understands that the offering and sale of
the Securities is intended to be exempt from registration under the Securities
Act, by virtue of Section 4(a)(2) thereof and the provisions of Regulation D
promulgated thereunder, based, in part, upon the representations, warranties and
agreements of the Purchaser contained in this Subscription Agreement and
the  Purchase Agreement;
 
(b)           The Purchaser and the Purchaser’s attorney, accountant, purchaser
representative and/or tax advisor, if any (collectively, “Advisors”), have
received and have carefully reviewed the Memorandum, this Subscription
Agreement, and each of the Transaction Documents and all other documents
requested by the Purchaser or its Advisors, if any, and understand the
information contained therein, prior to the execution of this Subscription
Agreement;
 
(c)           Neither the Securities and Exchange Commission (the “Commission”)
nor any state securities commission has approved or disapproved of the
Securities or passed upon or endorsed the merits of the Offering or confirmed
the accuracy or determined the adequacy of the Memorandum.  The Memorandum has
not been reviewed by any Federal, state or other regulatory authority.  Any
representation to the contrary may be a criminal offense;
 
(d)           All documents, records, and books pertaining to the investment in
the Securities including, but not limited to, all information regarding the
Company and the Securities, have been made available for inspection and reviewed
by the Purchaser and its Advisors, if any;
 
(e)           The Purchaser and its Advisors, if any, have had a reasonable
opportunity to ask questions of and receive answers from the Company’s officers
and any other persons authorized by the Company to answer such questions,
concerning, among other related matters, the Offering, the Securities, the
Transaction Documents and the business, financial condition, results of
operations and prospects of the Company and all such questions have been
answered by the Company to the full satisfaction of the Purchaser and its
Advisors, if any;
 
 
3

--------------------------------------------------------------------------------

 
 
(f)           In evaluating the suitability of an investment in the Company, the
Purchaser has not relied upon any representation or other information (oral or
written) other than as stated in the Memorandum;
 
(g)           The Purchaser is unaware of, is in no way relying on, and did not
become aware of the offering of the Securities through or as a result of, any
form of general solicitation or general advertising including, without
limitation, any article, notice, advertisement or other communication published
in any newspaper, magazine or similar media or broadcast over television, radio
or over the Internet, in connection with the offering and sale of the Securities
and is not subscribing for the Securities and did not become aware of the
Offering through or as a result of any seminar or meeting to which the Purchaser
was invited by, or any solicitation of a subscription by, a person not
previously known to the Purchaser in connection with investments in securities
generally;
 
(h)           The Purchaser has taken no action which would give rise to any
claim by any person for brokerage commissions, finders’ fees or the like
relating to this Subscription Agreement or the transactions contemplated hereby
(other than fees to be paid by the Company to Placement Agent, as described in
the Memorandum);
 
(i)           The Purchaser, either alone or together with its Advisors, if any,
has such knowledge and experience in financial, tax, and business matters, and,
in particular, investments in securities, so as to enable it to utilize the
information made available to it in connection with the Offering to evaluate the
merits and risks of an investment in the Securities and the Company and to make
an informed investment decision with respect thereto;
 
(j)           The Purchaser is not relying on the Company, Placement Agent or
any of their respective employees or agents with respect to the legal, tax,
economic and related considerations of an investment in any of the Securities
and the Purchaser has relied on the advice of, or has consulted with, only its
own Advisors;
 
(k)           The Purchaser is acquiring the Securities solely for such
Purchaser’s own account for investment and not with a view to resale or
distribution thereof, in whole or in part.  The Purchaser has no agreement or
arrangement, formal or informal, with any person to sell or transfer all or any
part of any of the Securities and the Purchaser has no plans to enter into any
such agreement or arrangement;
 
(l)           The Purchaser understands and agrees that purchase of the
Securities is a high risk investment and the Purchaser is able to afford an
investment in a speculative venture having the risks and objectives of the
Company.  The Purchaser must bear the substantial economic risks of the
investment in the Securities indefinitely because none of the Securities may be
sold, hypothecated or otherwise disposed of unless subsequently registered under
the Securities Act and applicable state securities laws or an exemption from
such registration is available.  Legends will be placed on the certificates
representing the Common Stock, the Warrants and the shares of Common Stock
issuable upon exercise of the Warrants to the effect that such securities have
not been registered under the Securities Act or applicable state securities laws
and appropriate notations thereof will be made in the Company’s books;
 
(m)           The Purchaser has adequate means of providing for such Purchaser’s
current financial needs and foreseeable contingencies and has no need for
liquidity from its investment in the Securities for an indefinite period of
time;
 
 
4

--------------------------------------------------------------------------------

 
 
(n)           The Purchaser is aware that an investment in the Securities
involves a number of very significant risks and has carefully read and
considered the matters set forth in the Memorandum and the Transaction
Documents, and has considered, in particular, the matters under the caption
“Risk Factors” in the Memorandum and understands any of such risk may materially
adversely affect the Company’s operations and future prospects;
 
(o)           At the time such Purchaser was offered the Securities, it was, and
as of the date hereof it is, and on each date on which it exercises any Investor
Warrants, it will be an“accredited investor” within the meaning of Regulation D,
Rule 501(a), promulgated by the Securities and Exchange Commission under the
Securities Act and has truthfully and accurately completed the Investor
Questionnaire attached as Exhibit A to this Subscription Agreement and will
submit to the Company such further assurances of such status as may be
reasonably requested by the Company;
 
(p)           The Purchaser: (i) if a natural person, represents that the
Purchaser has reached the age of 21 and has full power and authority to execute
and deliver this Subscription Agreement and all other related agreements or
certificates and to carry out the provisions hereof and thereof; (ii) if a
corporation, partnership, or limited liability company, or association, joint
stock company, trust, unincorporated organization or other entity, represents
that such entity was not formed for the specific purpose of acquiring the
Securities, such entity is duly organized, validly existing and in good standing
under the laws of the state of its organization, the consummation of the
transactions contemplated hereby is authorized by, and will not result in a
violation of state law or its charter or other organizational documents, such
entity has full power and authority to execute and deliver this Subscription
Agreement and all other related agreements or certificates and to carry out the
provisions hereof and thereof and to purchase and hold the Securities, the
execution and delivery of this Subscription Agreement has been duly authorized
by all necessary action, this Subscription Agreement has been duly executed and
delivered on behalf of such entity and is a legal, valid and binding obligation
of such entity; or (iii) if executing this Subscription Agreement in a
representative or fiduciary capacity, represents that it has full power and
authority to execute and deliver this Subscription Agreement in such capacity
and on behalf of the subscribing individual, ward, partnership, trust, estate,
corporation, or limited liability company or partnership, or other entity for
whom the Purchaser is executing this Subscription Agreement, and such
individual, partnership, ward, trust, estate, corporation, or limited liability
company or partnership, or other entity has full right and power to perform
pursuant to this Subscription Agreement and make an investment in the Company,
and represents that this Subscription Agreement constitutes a legal, valid and
binding obligation of such entity.  The execution and delivery of this
Subscription Agreement will not violate or be in conflict with any order,
judgment, injunction, agreement or controlling document to which the Purchaser
is a party or by which it is bound;
 
(q)           The Purchaser and its Advisors, if any, have had the opportunity
to obtain any additional information, to the extent the Company had such
information in its possession or could acquire it without unreasonable effort or
expense, necessary to verify the accuracy of the information contained in the
Memorandum including, but not limited to, the terms and conditions of the
Securities as set forth therein and the Transaction Documents and all other
related documents, received or reviewed in connection with the purchase of the
Securities and have had the opportunity to have representatives of the Company
provide them with such additional information regarding the terms and conditions
of this particular investment and the financial condition, results of
operations, business and prospects of the Company deemed relevant by the
Purchaser or its Advisors, if any, and all such requested information, to the
extent the Company had such information in its possession or could acquire it
without unreasonable effort or expense, has been provided by the Company in
writing to the full satisfaction of the Purchaser and its Advisors, if any;
 
 
5

--------------------------------------------------------------------------------

 
 
(r)           The Purchaser represents to the Company that any information which
the undersigned has heretofore furnished or is furnishing herewith to the
Company is complete and accurate and may be relied upon by the Company in
determining the availability of an exemption from registration under Federal and
state securities laws in connection with the offering of securities as described
in the Memorandum;
 
(s)           The Purchaser has significant prior investment experience,
including investment in non-listed and unregistered securities.  The Purchaser
has a sufficient net worth to sustain a loss of its entire investment in the
Company in the event such a loss should occur.  The Purchaser’s overall
commitment to investments which are not readily marketable is not excessive in
view of the Purchaser’s net worth and financial circumstances and the purchase
of the Securities will not cause such commitment to become excessive.  This
investment is a suitable one for the Purchaser;
 
(t)           The Purchaser is satisfied that it has received adequate
information with respect to all matters which it or its Advisors, if any,
consider material to its decision to make this investment;
 
(u)           The Purchaser acknowledges that any and all estimates or
forward-looking statements or projections included in the Memorandum were
prepared by the Company in good faith, but that the attainment of any such
projections, estimates or forward-looking statements cannot be guaranteed, will
not be updated by the Company and should not be relied upon;
 
(v)           No oral or written representations have been made, or oral or
written information furnished, to the Purchaser or its Advisors, if any, in
connection with the offering of the Securities which are in any way inconsistent
with the information contained in the Memorandum;
 
(w)           Within five (5) days after receipt of a request from the Company,
the Purchaser will provide such information and deliver such documents as may
reasonably be necessary to comply with any and all laws and ordinances to which
the Company is subject;
 
(x)           THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OR THE SECURITIES LAWS OF CERTAIN STATES AND ARE BEING OFFERED
AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID
ACT AND SUCH LAWS.  THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON
TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION
THEREFROM.  THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE
COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY,
NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF
THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE MEMORANDUM.  ANY REPRESENTATION
TO THE CONTRARY IS UNLAWFUL;
 
(y)           In making an investment decision, investors must rely on their own
examination of Company and the terms of the Offering, including the merits and
risks involved.  Investors should be aware that they will be required to bear
the financial risks of this investment for an indefinite period of time;
 
(z)           (For ERISA plans only)    The fiduciary of the ERISA plan (the
“Plan”) represents that such fiduciary has been informed of and understands the
Company’s investment objectives, policies and strategies, and that the decision
to invest “plan assets” (as such term is defined in ERISA) in the Company is
consistent with the provisions of ERISA that require diversification of plan
assets and impose other fiduciary responsibilities.  The Purchaser or Plan
fiduciary (a) is responsible for the decision to invest in the Company; (b) is
independent of the Company and any of its affiliates; (c) is qualified to make
such investment decision; and (d) in making such decision, the Purchaser or Plan
fiduciary has not relied on any advice or recommendation of the Company or any
of its affiliates;
 
 
6

--------------------------------------------------------------------------------

 
 
(aa)           The Purchaser has read in its entirety the Memorandum and all
exhibits and annexes thereto, including, but not limited to, all information
relating to the Company,  and the Securities, and understands fully to its full
satisfaction all information included in the Memorandum including, but not
limited to, the Section entitled “Risk Factors” as well as any other information
included in the Transaction Documents;
 
(bb)           The Purchaser represents that (i) the Purchaser was contacted
regarding the sale of the Securities by the Company or the Placement Agent (or
another person whom the Purchaser believed to be an authorized agent or
representative thereof) with whom the Purchaser had a prior substantial
pre-existing relationship and (ii) it did not learn of the offering of the
Securities by means of any form of general solicitation or general advertising,
and in connection therewith, the Purchaser did not (A) receive or review any
advertisement, article, notice or other communication published in a newspaper
or magazine or similar media or broadcast over television or radio, whether
closed circuit, or generally available; or (B) attend any seminar meeting or
industry investor conference whose attendees were invited by any general
solicitation or general advertising;
 
(cc)           The Purchaser consents to the placement of a legend on any
certificate or other document evidencing the Securities and, when issued, the
Warrant Shares, that such securities have not been registered under the
Securities Act or any state securities or “blue sky” laws and setting forth or
referring to the restrictions on transferability and sale thereof contained in
this Agreement.  The Purchaser is aware that the Company will make a notation in
its appropriate records with respect to the restrictions on the transferability
of such Securities. The legend to be placed on each certificate shall be in form
substantially similar to the following:
 
“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR ANY STATE SECURITIES OR
“BLUE SKY LAWS,” AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR
HYPOTHECATED ABSENT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR
COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT, OR UNLESS THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO THE COMPANY AND ITS
COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”
 
(dd)           The Purchaser acknowledges that if he or she is a Registered
Representative of a Financial Industry Regulatory Authority (“FINRA”) member
firm, he or she must give such firm the notice required by the FINRA’s Rules of
Fair Practice, receipt of which must be acknowledged by such firm prior to an
investment in the Securities.
 
(ee)           To effectuate the terms and provisions hereof, the Purchaser
hereby appoint the Placement Agent as its attorney-in-fact (and the Placement
Agent hereby accepts such appointment) for the purpose of carrying out the
provisions of the Escrow Agreement by and between the Company, the Placement
Agent and Signature Bank (the “Escrow Agreement”) including, without limitation,
taking any action on behalf of, or at the instruction of, the Purchaser and
executing any release notices required under the Escrow Agreement and taking any
action and executing any instrument that the Placement Agent may deem necessary
or advisable (and lawful) to accomplish the purposes hereof.  All acts done
under the foregoing authorization are hereby ratified and approved and neither
the Placement Agent nor any designee nor agent thereof shall be liable for any
acts of commission or omission, for any error of judgment, for any mistake of
fact or law except for acts of gross negligence or willful misconduct.  This
power of attorney, being coupled with an interest, is irrevocable while the
Escrow Agreement remains in effect.
 
 
7

--------------------------------------------------------------------------------

 
 
(ff)           The Purchaser agrees not to issue any public statement with
respect to the Offering, Purchaser’s investment or proposed investment in the
Company or the terms of any agreement or covenant between them and the Company
without the Company’s prior written consent, except such disclosures as may be
required under applicable law.
 
(gg)           The Purchaser understands, acknowledges and agrees with the
Company that this subscription may be rejected, in whole or in part, by the
Company, in the sole and absolute discretion of the Company, at any time before
any Closing notwithstanding prior receipt by the Purchaser of notice of
acceptance of the Purchaser’s subscription.
 
(hh)           The Purchaser acknowledges that the information contained in the
Transaction Documents or otherwise made available to the Purchaser is
confidential and non-public and agrees that all such information shall be kept
in confidence by the Purchaser and neither used by the Purchaser for the
Purchaser’s personal benefit (other than in connection with this subscription)
nor disclosed to any third party for any reason, notwithstanding that a
Purchaser’s subscription may not be accepted by the Company; provided, however,
that (a) the Purchaser may disclose such information to its affiliates and
advisors who may have a need for such information in connection with providing
advice to the Purchaser with respect to its investment in the Company so long as
such affiliates and advisors have an obligation of confidentiality, and (b) this
obligation shall not apply to any such information that (i) is part of the
public knowledge or literature and readily accessible at the date hereof, (ii)
becomes part of the public knowledge or literature and readily accessible by
publication (except as a result of a breach of this provision) or (iii) is
received from third parties without an obligation of confidentiality (except
third parties who disclose such information in violation of any confidentiality
agreements or obligations, including, without limitation, any subscription or
other similar agreement entered into with the Company).
 
6.            Representations and Warranties of the Company. The representations
and warranties contained in Section 3 of the Purchase Agreement to be entered
into by the Company and the Purchasers shall be incorporated herein by reference
and shall be deemed to be made under this Subscription Agreement.
 
7.            Indemnification.  The Purchaser agrees to indemnify and hold
harmless the Company, Placement Agent and each of their respective officers,
directors,  managers, employees, agents, attorneys, control persons and
affiliates from and against all losses, liabilities, claims, damages, costs,
fees and expenses whatsoever (including, but not limited to, any and all
expenses incurred in investigating, preparing or defending against any
litigation commenced or threatened) based upon or arising out of any actual or
alleged false acknowledgment, representation or warranty, or misrepresentation
or omission to state a material fact, or breach by the Purchaser of any covenant
or agreement made by the Purchaser herein or in any other document delivered in
connection with this Subscription Agreement.
 
8.            Binding Effect.  This Subscription Agreement will survive the
death or disability of the Purchaser and will be binding upon and inure to the
benefit of the parties and their heirs, executors, administrators, successors,
legal representatives, and permitted assigns.  If the Purchaser is more than one
person, the obligations of the Purchaser hereunder will be joint and several and
the agreements, representations, warranties and acknowledgments herein will be
deemed to be made by and be binding upon each such person and such person’s
heirs, executors, administrators, successors, legal representatives and
permitted assigns.
 
 
8

--------------------------------------------------------------------------------

 
 
9.            Modification.  This Subscription Agreement will not be modified or
waived except by an instrument in writing signed by the party against whom any
such modification or waiver is sought.
 
10.          Notices.  Any notice or other communication required or permitted
to be given hereunder will be in writing and will be mailed by certified mail,
return receipt requested, or delivered by reputable overnight courier such as
FedEx against receipt to the party to whom it is to be given (a) if to the
Company, at the address set forth in the Purchase Agreement or (b) if to the
Purchaser, at the address set forth on the signature page hereof (or, in either
case, to such other address as the party will have furnished in writing in
accordance with the provisions of this Section 10).  Any notice or other
communication given by certified mail will be deemed given at the time of
certification thereof, except for a notice changing a party’s address which will
be deemed given at the time of receipt thereof.  Any notice or other
communication given by overnight courier will be deemed given at the time of
delivery.
 
11.         Assignability.  This Subscription Agreement and the rights,
interests and obligations hereunder are not transferable or assignable by the
Purchaser and the transfer or assignment of any of the Securities will be made
only in accordance with all applicable laws.
           
12.          Applicable Law. This Subscription Agreement will be governed by and
construed under the laws of the State of New York as applied to agreements among
New York residents entered into and to be performed entirely within New
York.  The parties hereto (1) agree that any legal suit, action or proceeding
arising out of or relating to this Subscription Agreement will be instituted
exclusively in New York State Supreme Court, County of New York, or in the
United States District Court for the Southern District of New York, (2) waive
any objection which the parties may have now or hereafter to the venue of any
such suit, action or proceeding, and (3) irrevocably consent to the jurisdiction
of the New York State Supreme Court, County of New York, and the United States
District Court for the Southern District of New York in any such suit, action or
proceeding.  Each of the parties hereto further agrees to accept and acknowledge
service of any and all process which may be served in any such suit, action or
proceeding in the New York State Supreme Court, County of New York, or in the
United States District Court for the Southern District of New York and agrees
that service of process upon it mailed by certified mail to its address will be
deemed in every respect effective service of process upon it, in any such suit,
action or proceeding.  THE PARTIES HERETO AGREE TO WAIVE THEIR RESPECTIVE RIGHTS
TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF
THIS SUBSCRIPTION AGREEMENT OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY.
 
13.         Blue Sky Qualification.  The purchase of Securities pursuant to this
Subscription Agreement is expressly conditioned upon the exemption from
qualification of the offer and sale of the Securities from applicable federal
and state securities laws.
 
14.         Use of Pronouns.  All pronouns and any variations thereof used
herein will be deemed to refer to the masculine, feminine, neuter, singular or
plural as the identity of the person or persons referred to may require.
 
15.         Confidentiality.  The Purchaser acknowledges and agrees that any
information or data the Purchaser has acquired from or about the Company not
otherwise properly in the public domain, was received in confidence.  The
Purchaser agrees not to divulge, communicate or disclose, except as may be
required by law or for the performance of this Subscription Agreement, or use to
the detriment of the Company or for the benefit of any other person or persons,
or misuse in any way, any confidential information of the Company, including any
trade or business secrets of the Company and any business materials that are
treated by the Company as confidential or proprietary, including, without
limitation, confidential information obtained by or given to the Company about
or belonging to third parties.
 
 
9

--------------------------------------------------------------------------------

 
 
16.         Miscellaneous.
 
                      (a)           This Subscription Agreement, together with
the other Transaction Documents, constitute the entire agreement between the
Purchaser and the Company with respect to the subject matter hereof and
supersede all prior oral or written agreements and understandings, if any,
relating to the subject matter hereof.  The terms and provisions of this
Subscription Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the
benefits of such terms or provisions.

                      (b)           Each of the Purchaser’s and the Company’s
representations and warranties made in this Subscription Agreement will survive
the execution and delivery hereof and delivery of the Securities.
 
                      (c)           Each of the parties hereto will pay its own
fees and expenses (including the fees of any attorneys, accountants, appraisers
or others engaged by such party) in connection with this Subscription Agreement
and the transactions contemplated hereby whether or not the transactions
contemplated hereby are consummated.
 
                      (d)           This Subscription Agreement may be executed
in one or more counterparts each of which will be deemed an original, but all of
which will together constitute one and the same instrument.
 
                      (e)           Each provision of this Subscription
Agreement will be considered separable and, if for any reason any provision or
provisions hereof are determined to be invalid or contrary to applicable law,
such invalidity or illegality will not impair the operation of or affect the
remaining portions of this Subscription Agreement.
 
                      (f)           Paragraph titles are for descriptive
purposes only and will not control or alter the meaning of this Subscription
Agreement as set forth in the text.
 
17.         Signature Page.It is hereby agreed by the parties hereto that the
execution by the Purchaser of this Subscription Agreement, in the place set
forth hereinbelow, will be deemed and constitute the agreement by the Purchaser
to be bound by all of the terms and conditions hereof as well as by the (i) the
Unit Purchase Agreement,  (ii) the 2014 Investor Rights Agreement, (iii)  the
Warrants, (iv) agreed to the terms of the 2012 Stockholders Agreement, and (v)
the Share Exchange Agreement , and will be deemed and constitute the execution
by the Purchaser of all such Transaction Documents without requiring the
Purchaser’s separate signature on any of such Transaction Documents.
 
[Remainder of page intentionally left blank]
 
 
10

--------------------------------------------------------------------------------

 

ANTI-MONEY LAUNDERING REQUIREMENTS

 
The USA PATRIOT Act
 
What is money laundering?
 
How big is the problem and why is it important?
 
The USA PATRIOT Act is designed to detect, deter, and punish terrorists in the
United States and abroad.  The Act imposes new anti-money laundering
requirements on brokerage firms and financial institutions.  Since April 24,
2002 all brokerage firms have been required to have new, comprehensive
anti-money laundering programs. To help you understand these efforts, we want to
provide you with some information about money laundering and our steps to
implement the USA PATRIOT Act.
 
 
Money laundering is the process of disguising illegally obtained money so that
the funds appear to come from legitimate sources or activities.  Money
laundering occurs in connection with a wide variety of crimes, including illegal
arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.
 
 
The use of the U.S. financial system by criminals to facilitate terrorism or
other crimes could well taint our financial markets.  According to the U.S.
State Department, one recent estimate puts the amount of worldwide money
laundering activity at $1 trillion a year.

What are we required to do to eliminate money laundering?
 
Under new rules required by the USA PATRIOT Act, our anti-money laundering
program must designate a special compliance officer, set up employee training,
conduct independent audits, and establish policies and procedures to detect and
report suspicious transaction and ensure compliance with the new laws.
 
 
As part of our required program, we may ask you to provide various
identification documents or other information.  Until you provide the
information or documents we need, we may not be able to effect any transactions
for you.

 
 
11

--------------------------------------------------------------------------------

 
 
RELMADA THERAPEUTICS, INC.
SIGNATURE PAGE TO
SUBSCRIPTION AGREEMENT
 

--------------------------------------------------------------------------------

 
Purchaser hereby elects to purchase a total of ______Unit(s), each Unit
consisting of 666,666 shares of Common Stock and an A Warrant to purchase
666,666 shares of Common Stock and a B Warrant to purchase 333,333 shares of
Common Stock at a purchase price of $100,000 per Unit (NOTE: to be completed by
the Purchaser).
 
Date (NOTE: To be completed by the Purchaser): __________________, 2014
 

--------------------------------------------------------------------------------

If the Purchaser is an INDIVIDUAL, and if purchased as JOINT TENANTS, as TENANTS
IN COMMON, or as COMMUNITY PROPERTY:

____________________________                                                                ______________________________
Print
Name(s)                                                                                                            
Social Security Number(s)
 
____________________________                                                                ______________________________
    Signature(s) of
Purchaser(s)                                                                              
    Signature

____________________________                                                                ______________________________
Date                                                                                                                       
    Address

 If the Purchaser is a PARTNERSHIP, CORPORATION, LIMITED LIABILITY COMPANY or
TRUST:

____________________________                                                                ______________________________
Name of
Partnership,                                                                                              
Federal Taxpayer
Corporation,
Limited                                                                                               
Identification Number
Liability Company or Trust

By:_________________________                                                                
  ______________________________
      Name:                                                                                                                
 State of Organization
      Title:

____________________________                                                                ______________________________
Date                                                                                                                          
Address
 
AGREED AND ACCEPTED:
 
RELMADA THERAPEUTICS,
INC.                                                                                                
 
By:     ______________________________                                                                _______________________________
           Name:                                                                                                                          
  Date
           Title:                                                      
 
 
 

--------------------------------------------------------------------------------

 
 
Exhibit A
 
FORM OF INVESTOR QUESTIONNAIRE
RELMADA THERAPEUTICS, INC.

For Individual Investors Only
 
(All individual investors must INITIAL where appropriate.  Where there are joint
investors both parties must INITIAL):

Initial _______
I certify that I have a “net worth” of at least $1 million either individually
or through aggregating my individual holdings and those in which I have a joint,
community property or other similar shared ownership interest with my
spouse.  For purposes of calculating net worth under this paragraph, (i) the
primary residence shall not be included as an asset, (ii) to the extent that the
indebtedness that is secured by the primary residence is in excess of the fair
market value of the primary residence, the excess amount shall be included as a
liability, and (iii) if the amount of outstanding indebtedness that is secured
by the primary residence exceeds the amount outstanding 60 days prior to the
execution of this Subscription Agreement, other than as a result of the
acquisition of the primary residence, the amount of such excess shall be
included as a liability.

Initial _______
I certify that I have had an annual gross income for the past two years of at
least $200,000 (or $300,000 jointly with my spouse) and expect my income (or
joint income, as appropriate) to reach the same level in the current year.

 
For Non-Individual Investors
 
(all Non-Individual Investors must INITIAL where appropriate):

Initial _______
The undersigned certifies that it is a partnership, corporation, limited
liability company or business trust that is 100% owned by persons who meet
either of the criteria for Individual Investors, above.

Initial _______
The undersigned certifies that it is a partnership, corporation, limited
liability company or business trust that has total assets of at least $5 million
and was not formed for the purpose of investing in Company.

Initial _______
The undersigned certifies that it is an employee benefit plan whose investment
decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a
bank, savings and loan association, insurance company or registered investment
adviser.

 
Initial _______
The undersigned certifies that it is an employee benefit plan whose total assets
exceed $5,000,000 as of the date of the Subscription Agreement.

 
Initial _______
The undersigned certifies that it is a self-directed employee benefit plan whose
investment decisions are made solely by persons who meet either of the criteria
for Individual Investors, above.

 
Initial _______
The undersigned certifies that it is a U.S. bank, U.S. savings and loan
association or other similar U.S. institution acting in its individual or
fiduciary capacity.

 
 
 

--------------------------------------------------------------------------------

 
 
Initial _______
The undersigned certifies that it is a broker-dealer registered pursuant to §15
of the Securities Exchange Act of 1934.

 
Initial _______
The undersigned certifies that it is an organization described in §501(c)(3) of
the Internal Revenue Code with total assets exceeding $5,000,000 and not formed
for the specific purpose of investing in Company.

 
Initial _______
The undersigned certifies that it is a trust with total assets of at least
$5,000,000, not formed for the specific purpose of investing in Company, and
whose purchase is directed by a person with such knowledge and experience in
financial and business matters that he is capable of evaluating the merits and
risks of the prospective investment.

 
Initial _______
The undersigned certifies that it is a plan established and maintained by a
state or its political subdivisions, or any agency or instrumentality thereof,
for the benefit of its employees, and which has total assets in excess of
$5,000,000.

 
Initial _______
The undersigned certifies that it is an insurance company as defined in
§2(a)(13) of the Securities Act of 1933, as amended, or a registered investment
company.

 
[Remainder of page intentionally left blank]
 
 
 

--------------------------------------------------------------------------------

 
RELMADA THERAPEUTICS, INC.
 
Investor Questionnaire

(Must be completed by Purchaser)
 
 

Section A - Individual Purchaser Information
 
Purchaser Name(s):
________________________________________________________________________
 
Individual executing Profile or Trustee:
_________________________________________________________
 
Social Security Numbers / Federal I.D. Number:
___________________________________________________
 
Date of Birth: _________________  Marital Status: _________________
 
Joint Party Date of Birth:_________________
 
Investment Experience (Years): ___________
 
Annual Income: _________________
 
Liquid Net Worth:_____________
 
Net Worth: ________________
 
Investment Objectives (circle one or more):
Long Term Capital Appreciation, Short Term Trading, Businessman’s Risk, Income,
Safety of Principal, Tax Exempt Income or other

 
Home Street Address:
_______________________________________________________________________________________
 
Home City, State & Zip Code:
_______________________________________________________________________________________
 
Home Phone: ________________________ Home Fax: _____________________
 
Home Email: _______________________________
 
Employer:
_______________________________________________________________________________________
 
Employer Street Address:
_______________________________________________________________________________________
 
Employer City, State & Zip Code:
_______________________________________________________________________________________
 
Bus. Phone: __________________________ Bus. Fax: _______________________
 
Bus. Email: ________________________________
 
Type of Business:
_______________________________________________________________________________________
 
LAIDLAW Account Executive / Outside Broker/Dealer:
_______________________________________________________________________________________
 
Please check if you are a FINRA member or affiliate of a FINRA member firm:
_____________________________
 
 
1

--------------------------------------------------------------------------------

 
 
Section B – Entity Purchaser Information
 
 Purchaser Name(s):
_______________________________________________________________________________________
 
Authorized Individual executing Profile or Trustee:
_______________________________________________________________________________________
 
Social Security Numbers / Federal I.D. Number:
_______________________________________________________________________________________
 
Investment Experience (Years): ___________
 
Annual Income: _______________
 
Net Worth: ________________
 
Was the Entity formed for the specific purpose of purchasing the Units?
 
[  ] Yes  [  ] No
 
Principal Purpose (Trust)______________________________________
 
Type of Business: ________________________________________________________
 
Investment Objectives (circle one or more):
Long Term Capital Appreciation, Short Term Trading, Businessman’s Risk, Income,
Safety of Principal, Tax Exempt Income or other

 
Street Address:
_______________________________________________________________________________________
 
City, State & Zip Code:
_______________________________________________________________________________________
 
Phone: ________________________           Fax: ________________________
 
Email: __________________________
 
Laidlaw Account Executive / Outside Broker/Dealer:
_______________________________________________________________________________________
 
  Please check if you are a FINRA member or affiliate of a FINRA member firm:
_______
 
 
2

--------------------------------------------------------------------------------

 
 
Section C – Form of Payment – Check or Wire Transfer
 

 
____ Check payable to “SIGNATURE BANK, AS ESCROW AGENT FOR RELMADA THERAPEUTICS,
INC.
 
____ Wire funds from my outside account according to the “To subscribe for Units
of Common Stock and Warrants to Purchase Shares of Common Stock in the private
offering of RELMADA THERAPEUTICS, INC.”
 
____ Wire funds from my LAIDLAW Account – See following page
 
____ The funds for this investment are rolled over, tax deferred
from  ____________________ within the Allowed 60-day window
 
Section D – Purchaser Instructions for Payments of any Dividends
 
o
Please make any dividend and any other payment checks pursuant to the Units to
“Sterne Agee & Leach Inc. c/f  [Insert Client Name]” and deliver such checks
to  so that they may deposit them into my Laidlaw brokerage account

 
o
Please make out any dividend and any other payment checks pursuant to the Units
in the registered name of the Purchaser set forth in the signature page to the
Subscription Agreement for the Units and mail such checks to me at the address
specified in such signature page.

 
Section E – Securities Delivery Instructions (check one)
 
____  Please deliver my securities to Laidlaw for deposit into my brokerage
account.

____  Please deliver my securities to the address listed in the above Investor
Questionnaire.

____  Please deliver my securities to the below address:
_________________
_________________
_________________
_________________

Purchaser Signature(s)
_______________________________________                        
Date_______________

 
3

--------------------------------------------------------------------------------

 
 
Wire Transfer Authorization

TO:    OPERATIONS MANAGER
           LAIDLAW & CO. (UK) LTD.

RE:     Client Wire Transfer Authorization
           RELMADA THERAPEUTICS, INC.

DATE:________________
 

--------------------------------------------------------------------------------

 
This memorandum authorizes the transfer of the following listed funds from my
LAIDLAW Brokerage Account as follows:

LAIDLAW Brokerage Account #    ______________________

Wire Amount                                     $______________________

           SIGNATURE BANK
           261 Madison Avenue
           New York, NY 10016
 
           ABA Number: 026013576
           For Credit to Signature Bank, as Escrow Agent for
           Relmada Therapeutics, Inc.
           Account No.: 150226013
           
       REFERENCE:

           PURCHASER'S LEGAL NAME
           _____________________________________________________________________________

           TAX ID NUMBER
           _____________________________________________________________________________

           PURCHASER'S ADDRESS
           _____________________________________________________________________________

FBO:  _____________________________________________________________________________
 
Signature:                                   ___________________________________________________________

Signature:                                   ___________________________________________________________
                                                       (Joint Signature)
 
4

--------------------------------------------------------------------------------