# EDGAR Filing Document

**Accession Number:** 0001967080
**File Stem:** 0001670254-23-000180
**Filing Date:** 2023-2
**Character Count:** 342375
**Document Hash:** e399f4f98b841535e69cd7383dd74024
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001670254-23-000180.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001670254-23-000180

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 13

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Iron Lilly, LLC
- **CENTRAL INDEX KEY:** 0001967080
- **IRS NUMBER:** 920786122

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31880
- **FILM NUMBER:** 23669590

**BUSINESS ADDRESS:**
- **STREET 1:** 1255 HONEY PRONG ROAD
- **CITY:** HARTSVILLE
- **STATE:** TN
- **ZIP:** 37074
- **BUSINESS PHONE:** 6282664770

**MAIL ADDRESS:**
- **STREET 1:** 1255 HONEY PRONG ROAD
- **CITY:** HARTSVILLE
- **STATE:** TN
- **ZIP:** 37074

## Ex-99

### Attached PDF Documents

**Attachment 1:** `document_1.pdf`

# Form C

## Cover Page

Name of issuer:

Iron Lilly, LLC

Legal status of issuer:

Form: Limited Liability Company

Jurisdiction of Incorporation/Organization: TN

Date of organization: 8/29/2022

Physical address of issuer:

1255 Honey Prong Road
Hartsville TN 37074

Website of issuer:

http://ironlilly.com/

Name of intermediary through which the offering will be conducted:

Wefunder Portal LLC

CIK number of intermediary:

0001670254

SEC file number of intermediary:

007-00033

CRD number, if applicable, of intermediary:

283503

Amount of compensation to be paid to the intermediary, whether as a dollar amount or a percentage of the offering amount, or a good faith estimate if the exact amount is not available at the time of the filing, for conducting the offering, including the amount of referral and any other fees associated with the offering:

6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the issuer in connection with the offering.

Any other direct or indirect interest in the issuer held by the intermediary, or any arrangement for the intermediary to acquire such an interest:

No

Type of security offered:

☐ Common Stock
☐ Preferred Stock
☐ Debt
☑ Other

If Other, describe the security offered:

Class A Units (each a "Share" and, collectively, the "Shares" or "Securities")

Target number of securities to be offered:

2,352

Price:

$100.00000

Method for determining price:

Dividing post-money valuation $15,000,000.00 (or $12,750,000.00 for investors in the first $499,970.00) by number of units outstanding on fully diluted basis.

Target offering amount:

$199,920.00

Oversubscriptions accepted:

☑ Yes

☐ No

If yes, disclose how oversubscriptions will be allocated:

☐ Pro-rata basis

☐ First-come, first-served basis

☑ Other

If other, describe how oversubscriptions will be allocated:

As determined by the issuer

Maximum offering amount (if different from target offering amount):

$4,999,970.00

Deadline to reach the target offering amount:

4/29/2024

NOTE: If the sum of the investment commitments does not equal or exceed the target offering amount at the offering deadline, no securities will be sold in the offering, investment commitments will be cancelled and committed funds will be returned.

Current number of employees:

2

|  | Most recent fiscal year-end: | Prior fiscal year-end: |
| --- | --- | --- |
| Total Assets: | $17,653.00 | $0.00 |
| Cash & Cash Equivalents: | $17,653.00 | $0.00 |
| Accounts Receivable: | $0.00 | $0.00 |
| Short-term Debt: | $0.00 | $0.00 |
| Long-term Debt: | $0.00 | $0.00 |
| Revenues/Sales: | $0.00 | $0.00 |
| Cost of Goods Sold: | $0.00 | $0.00 |
| Taxes Paid: | $0.00 | $0.00 |
| Net Income: | ($12,347.00) | $0.00 |

Select the jurisdictions in which the issuer intends to offer the securities:

AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, BS, GU, PR, VI, IV

## Offering Statement

Respond to each question in each paragraph of this part. Set forth each question and any notes, but not any instructions thereto, in their entirety. If disclosure in response to any question is responsive to one or more other questions, it is not necessary to repeat the

disclosure. If a question or series of questions is inapplicable or the response is available elsewhere in the Form, either state that it is inapplicable, include a cross-reference to the responsive disclosure, or omit the question or series of questions.

Be very careful and precise in answering all questions. Give full and complete answers so that they are not misleading under the circumstances involved. Do not discuss any future performance or other anticipated event unless you have a reasonable basis to believe that it will actually occur within the foreseeable future. If any answer requiring significant information is materially inaccurate, incomplete or misleading, the Company, its management and principal shareholders may be liable to investors based on that information.

# THE COMPANY

1. Name of issuer:

Iron Lilly, LLC

# COMPANY ELIGIBILITY

2. ☑ Check this box to certify that all of the following statements are true for the issuer.

- Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia.
- Not subject to the requirement to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934.
- Not an investment company registered or required to be registered under the Investment Company Act of 1940.
- Not ineligible to rely on this exemption under Section 4(a)(6) of the Securities Act as a result of a disqualification specified in Rule 503(a) of Regulation Crowdfunding.
- Has filed with the Commission and provided to investors, to the extent required, the ongoing annual reports required by Regulation Crowdfunding during the two years immediately preceding the filing of this offering statement (or for such shorter period that the issuer was required to file such reports).
- Not a development stage company that (a) has no specific business plan or (b) has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies.

INSTRUCTION TO QUESTION 2: If any of these statements are not true, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.

3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 202 of Regulation Crowdfunding?

☐ Yes ☑ No

# DIRECTORS OF THE COMPANY

4. Provide the following information about each director (and any persons occupying a similar status or performing a similar function) of the issuer.

| Director | Principal Occupation | Main Employer | Year Joined as Director |
| --- | --- | --- | --- |
| Yochanan Marcellino | Managing Member | Iron Lilly, LLC | 2022 |

For three years of business experience, refer to Appendix D: Director & Officer Work History.

# OFFICERS OF THE COMPANY

5. Provide the following information about each officer (and any persons occupying a similar status or performing a similar function) of the issuer.

| Officer | Positions Held | Year Joined |
| --- | --- | --- |
| Yochanan Marcellino | President | 2022 |

For three years of business experience, refer to Appendix D: Director & Officer Work History.

INSTRUCTION TO QUESTION 5: For purposes of this Question 5, the term officer means a president, vice president, secretary, treasurer or principal financial officer, comptroller or principal accounting officer, and any person that routinely performing similar functions.

## PRINCIPAL SECURITY HOLDERS

6. Provide the name and ownership level of each person, as of the most recent practicable date, who is the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power.

| Name of Holder | No. and Class of Securities Now Held | % of Voting Power Prior to Offering |
| --- | --- | --- |
| City of Peace Films, Inc. (50% owned by Michael Johnson, 50% owned by Yochanan Marcellino) | 100.0 Membership Interest | 100.0 |

INSTRUCTION TO QUESTION 6: The above information must be provided as of a date that is no more than 120 days prior to the date of filing of this offering statement.

To calculate total voting power, include all securities for which the person directly or indirectly has or shares the voting power, which includes the power to vote or to direct the voting of such securities. If the person has the right to acquire voting power of such securities within 60 days, including through the exercise of any option, warrant or right, the conversion of a security, or other arrangement, or if securities are held by a member of the family, through corporations or partnerships, or otherwise in a manner that would allow a person to direct or control the voting of the securities (or share in such direction or control - as, for example, a co-trustee) they should be included as being "beneficially owned." You should include an explanation of these circumstances in a footnote to the "Number of and Class of Securities Now Held." To calculate outstanding voting equity securities, assume all outstanding options are exercised and all outstanding convertible securities converted.

## BUSINESS AND ANTICIPATED BUSINESS PLAN

7. Describe in detail the business of the issuer and the anticipated business plan of the issuer.

For a description of our business and our business plan, please refer to the attached Appendix A, Business Description & Plan

INSTRUCTION TO QUESTION 7: Wefunder will provide your company's Wefunder profile as an appendix (Appendix A) to the Form C in PDF format. The submission will include all Q&A items and "read more" links in an un-collapsed format. All videos will be transcribed.

This means that any information provided in your Wefunder profile will be provided to the SEC in response to this question. As a result, your company will be potentially liable for misstatements and omissions in your profile under the Securities Act of 1933, which requires you to provide material information related to your business and anticipated business plan. Please review your Wefunder profile carefully to ensure it provides all material information, is not false or misleading, and does not omit any information that would cause the information included to be false or misleading.

## RISK FACTORS

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.

In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

8. Discuss the material factors that make an investment in the issuer speculative or risky:

The creation of a film is tied to external forces outside of the control of the company, including, but not limited to, weather, terrorist attacks, and labor strikes. Events of this nature could have an impact on both the timeline of the project and overall budget. Extreme cases may make it impossible to complete the project.

Receipt of revenue is often tied to third party companies such as sales agents, distributors and exhibitors. While the money could earn money in the marketplace, it is possible that revenue could not reach The Company as a result of a third-party claiming bankruptcy or refusal to pay.

Investment in film, by nature, is a high-risk investment. The industry is constantly shifting and changing and business models that work for one film, may not necessarily work for another one. Performance on a film often depend on external forces, outside of the control of the company.

The Company will not be performing background checks on any of its team members or employees. The reception of a film is often tied very closely to the public perception of the team members and employees (i.e. director, cast, producers, company). While the company will hold its team members and employees to the highest standards of professionalism while making the film, if it is learned at any point that those team members were involved in inappropriate, immortal, unethical or illegal conduct in the past or after the creation of the film, it could affect the performance of the film in the marketplace.

Reliance on management - except as set forth in this agreement, decisions with respect to the management of company will be made by the managers in the managers' sole discretion. The success of the picture will largely depend on the quality of the management of the company. The managers, with the advice and assistance of other professionals, will administer all business aspects of the managers, the company and the picture. Although the managers believe that the managers have the necessary business and motion picture experience to supervise the management of the company, there can be no assurance that the managers will perform adequately or that the company's operations will be successful. Purchasers of interests will receive an economic interest in the company, but shall not be participants in the management or the operations of the managers, the company or the picture. Accordingly, except as otherwise set forth in this agreement, an investor will have no right to vote on, or to veto actions of the managers, will have no creative control, and manager-approved actions may be approved despite the investor's dissent from such actions. Neither the company, the managers nor any of the managers' advisors have managed or produced a feature film previously, and no assurance can be had that their efforts will be successful for the picture.

Limited operating history - the company has been in existence for a very short period of time, and is subject to all the risks incident to the creation and development of a new business, including the absence of a history of operations and minimal net worth. Furthermore, the company has not produced or distributed a full-length motion picture. The company and the managers have, and will continue to, endeavor to employ or otherwise retain the services of those persons with the skills necessary to successfully produce and distribute a full-length feature film, but no assurances can be given that they will be successful in these efforts.

Working capital requirements and the potential need for additional financing - there is no assurance that unforeseen events will not occur, resulting in the need to raise additional funds beyond what the company and the managers project. Furthermore, companies with limited operating histories, such as the company and the managers, do not always use capital in the most efficient manner. Thus, the company and the managers may need to raise additional capital to fund future operations and to satisfy future capital requirements of the company. The failure to raise any additional needed funds could have a material adverse effect on the company and the managers. In addition, it is anticipated that raising additional funds will result in additional dilution of each offeree's investment. Subject to the terms of the agreement, though the company and the managers do not anticipate that additional financing will need to be obtained, there can be no assurance that additional capital will not be needed.

Managers' conflicts of interest - the managers are not required to render

exclusive services in connection with the picture or the company. The managers, the production team and the talent have interests in a variety of activities other than acting as managers to the company, including involvement with the production of other films. In addition, the managers, the production team and the talent may organize companies that are similar to the company in the future. The managers may be principals in, or have profit interest in, the company. Accordingly, conflicts of interest may arise in the allocation of the managers', the production team's and/or the talent's time between the company and one or more of these other activities. Additionally, the managers may enter into services agreements with the company. The terms of such agreement may not be the result of an arms-length transaction, but be considered to be equal to, or less than, industry standards for the associated services rendered to the company.

Loss on dissolution or termination - in the event of a dissolution or termination of the company, the proceeds realized in the liquidation of assets, if any, will be distributed to the members only after the satisfaction of claims of creditors. Accordingly, the ability of a member to recover all or any portion of his or her or its investment under such circumstances will depend on the amount of funds so realized and the amount of claims to be satisfied therefrom.

Income tax consequences - there are various risks associated with the federal income tax aspects of an investment in the company which should be carefully considered by each prospective investor to determine whether an investment in the company is suitable for such prospective investor. Each prospective investor is urged to consult his or her or its own tax advisor with respect to the federal (as well as state and local) income tax consequences of an investment in the company.

Competitive industry - some segments of the motion picture industry are highly competitive. The company will be competing with the producers of other films in Arranging for distribution in all available markets and media. In the distribution phase, competition will limit the availability of such markets and media required for the successful distribution of the picture. The picture will be competing directly with other motion pictures and indirectly with other forms of public entertainment. The company will compete with numerous larger motion picture production companies and distribution companies, which have substantially greater resources, larger and more experienced production and distribution staffs, and established histories of successful production and distribution of motion pictures.

Commercial success - the picture's success is primarily dependent on audience acceptance of the picture, which is extremely difficult to predict and, therefore, inherently risky. Many films are produced each year and never released. Many films are released each year, which are not commercially successful and fail to recoup their production costs from united states theatrical distribution. Foreign and ancillary markets have therefore become increasingly important. Licensing of a motion picture in the ancillary markets is particularly dependent upon performance in domestic theatrical distribution. Neither the managers nor the company can predict the economic success of the picture because the revenue derived from the distribution of a motion picture (which does not necessarily bear any correlation to the production or distribution costs incurred) depends primarily upon its acceptance by the public, which cannot be accurately predicted. The economic success of a motion picture also depends upon the public's acceptance of competing films, the availability of alternative forms of entertainment and leisure-time activities, general economic conditions and other tangible and intangible factors, all of which can change and cannot be predicted with certainty. Neither the managers nor the company can assure members that the picture will generate enough revenue to offset its distribution and marketing costs, in which case the company would not receive any net revenues for the picture.

Production - particularly as produced by independent filmmakers, each motion picture is a separate business venture with its own management, employees and equipment and its own budgetary requirements. There are substantial risks associated with film production, including death or disability of key personnel, other factors causing delays, destruction or malfunction of sets or equipment, the inability of production personnel to comply with budgetary or scheduling requirements and physical

destruction or damage to the picture itself. Although some of these problems may be covered by company's insurance for the picture, significant difficulties such as these may materially increase the cost of production or may cause the entire project to be abandoned.

Dependence on key personnel - the company's future success depends, in significant part, upon the continued service of the individuals that constitute the production team and the managers' advisors. Neither the company nor the managers maintains key person life insurance for any team member or employee. Furthermore, the company's and the managers' success is dependent on the ability of the company and the managers to attract top talent, both within the production team and the cast of the picture. The company's and the managers' inability to attract such talent or the loss of the services of one or more members of the production team could have a material adverse effect on the company's and the managers' ability to successfully produce and distribute the picture. Additionally, the company may elect to forego the purchase of a completion bond or other types of production related insurance for the picture, resulting in certain losses relating to any of the picture's key personnel, equipment, locations and/or film footage being uninsured which could have a material adverse effect on the company's and the managers' ability to successfully produce and distribute the picture.

Labor disputes - there is no assurance that labor difficulties affecting production will not arise, including but not limited to union strikes. If such labor difficulties arise, film production and, hence, return to investing members could be delayed or diminished.

Audience appeal - the ultimate profitability of any motion picture depends upon its audience appeal in relation to the cost of its production and distribution. The audience appeal of a given motion picture depends, among other things, on unpredictable critical reviews and changing public tastes and such appeal cannot be anticipated with certainty.

Cost overruns - the costs of producing motion pictures are often underestimated and may be increased by reason of factors beyond the control of the producers. Such factors may include weather conditions, illness of technical and artistic personnel, artistic requirements, labor disputes, governmental regulations, equipment breakdowns, and other production disruptions. While the company intends to engage production personnel who have demonstrated an ability to complete films within the assigned budget, the risk of a film running over budget or of not being completed is always significant and may have a substantial adverse impact on the profitability of the picture.

Distribution - the profitable distribution of a motion picture depends in large part on the availability of one or more capable and efficient distributors who are able to arrange for appropriate advertising and promotion, proper release dates and bookings in first-run and other theaters. There can be no assurance that profitable distribution arrangements will be obtained for the picture or that the picture can or will be distributed profitably or that the picture will be distributed at all.

Long-term project - the production and distribution of a motion picture involves the passage of a significant amount of time. Pre-production on a picture may extend for two to three months or more. Principal photography may extend for several weeks or more. Post-production may extend for three to four months or more. Distribution and exhibition of motion pictures generally and of the picture may continue for years before gross proceeds or net proceeds (as defined herein) may be generated, if at all.

Foreign distribution - foreign distribution of a motion picture (i.e., outside the United States and Canada) may require the use of various foreign distributors. Some foreign countries may impose government regulations on the investing members with this system is that such investing members, who have had their money at risk for the longest time, are at the tail end of the box office receipts chain. Thus, if the company, in negotiating a distribution deal, has to rely heavily on a participation at some defined level of the picture's revenue stream, revenues to the company, and thus to investing members, are likely to be the last in line to benefit from such a revenue stream, if any.

Industry changes - neither the managers nor the company can predict the effect that rapid technological change, emerging distribution

channels or alternative forms of entertainment may have on the company, the managers or the motion picture industry. The entertainment industry in general, and the motion picture industry in particular, continue to undergo significant changes, primarily due to technological developments. Due to rapid growth of technology and shifting consumer tastes, neither the managers nor the company can accurately predict the overall effect that technological growth or the availability of alternative forms of entertainment may have on the potential revenue from and profitability of the picture. In addition, certain outlets for the distribution of motion pictures may not obtain the public acceptance that is or was previously predicted. If certain distribution channels are accepted by the public, neither the managers nor the company can assure offerees that the company will be successful in exploiting such channels. Moreover, to the extent that other distribution channels gain popular acceptance, it is possible that demand for existing distribution channels, such as dvds, will decrease. If the company is unable to exploit new distribution channels to the same extent expected as existing channels. Company's business, operations or financial condition could be materially adversely affected.

Picture's liabilities - the company will actively participate in the production and distribution of the picture. Because insurance covering such liability may not be available at a reasonable cost, or may simply not be obtained, the assets of the company may be exposed to operating risks that may arise from the creation, exploitation and disposition of the picture.

Subject to the terms and conditions of this agreement, the managers have reserved the specific authority to enter into agreements on behalf of the company with motion picture or television studios, distributors and/or other third parties pursuant to which the company, in exchange for such studios', distributors and/or other third parties' assistance in producing, distributing and/or otherwise exploiting the picture, may commit to pay such parties out of revenues generated by the picture at a point in the picture's revenue stream prior to company's receipt of its gross proceeds. Such agreements may include, but are not limited to, flat fee arrangements, negative pickup deals or an outright sale of the picture, if in the judgment of the managers; such a sale would be in the best interest of the company. In addition, subject to the terms and conditions of the operating agreement, the managers have reserved the right (1) to produce the picture and seek the most advantageous distribution agreement for the picture, and (2) to enter into agreements on behalf of the company which provide that persons rendering services or other materials or facilities in connection with the development, production, distribution or other exploitation of the picture shall receive, as salary or other compensation, deferred amounts or a percentage participation in company revenue. Such reliance on the judgment and discretion of the managers place a greater emphasis on the skills and judgment of the managers, and the managers' advisors and therefore makes it imperative that prospective non-managing members carefully examine the abilities of such managers and the managers' associates before choosing to provide any subscription hereunder.

Distributions and liquidity - distribution of the company's proceeds to the members will provide a primary source of distributable cash or securities to the members. The managers will have absolute discretion in the timing of such distributions, if any, subject to the terms and conditions of this agreement. There can be no assurance that there will be any distributions or that aggregate distributions, if any, will equal or exceed the members' investment in the company.

An investor who purchases interests in the company should be aware that the investment in the company is highly speculative and that such investor risks losing his, her or its entire investment.

Illiquidity of investment - there is no public market for the interests and one is not expected to develop. Each investor should be aware that he/she/or it must bear the risks of an investment in the company for an indefinite period of time because any transfer, sale or assignment of the interests is subject to the consent of the managers in its discretion. Furthermore, the interests have not been registered under the securities act of 1933, as amended (the 'act'), or any other applicable law, and therefore, cannot be sold and must be held indefinitely unless they are subsequently registered under the act, and any other applicable law, or, in the opinion of the managers, exemptions from such registration are

available. Any such registration is unlikely to occur in the future. In addition, no sale, transfer or assignment of an interest will be permitted if, in the opinion of counsel for the company, such sale, transfer or assignment would violate the status of the original sale of the interests which formed the basis for the exemption from registration under the act, or any applicable state securities laws, pursuant to which such interests were offered, or cause a termination of the entity's treatment as a company for federal income tax purposes. As a result of these restrictions, members may not be able to liquidate their investment in the event of an emergency, and the interests may not be readily accepted as collateral for a loan.

Inherent uncertainty of projections - the indicative cashflows and certain forward looking statements are based on certain assumptions and other information available to the managers. However, the underlying estimates, assumptions and future events are inherently uncertain, and unanticipated events may occur which would cause actual results to vary, perhaps materially from any forecasted results. Each investor should be aware that many films do not get released or if released are not commercially successful, and lose money. As a consequence, each investor should be aware that neither the company nor the managers guarantee or warrant any specific projected result of an investment in the company. Accordingly, investors should retain and rely upon the advice of their own professional advisors with respect to their individual suitability for an investment in the company and the tax consequences resulting therefrom. The foregoing list of risk factors does not purport to be a complete explanation of the risks involved in an investment in the company.

The outbreak of Corona Virus Disease 2019 (COVID-19), and any future resurgences of COVID-19, could cause disruptions to the Company's business and operations. Some jurisdictions, including those where the Company plans to operate, have issued directives for the general public to engage in social distancing when outside of the home. The Company could experience a reduction in customers and/or a reduction in its workforce based on any such statewide or local orders. While such orders are in effect, the Company may be required to modify its operations to conform to governmental directives (such as social distancing).

Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.

*INSTRUCTION TO QUESTION 8: Avoid generalized statements and include only those factors that are unique to the issuer. Discussion should be tailored to the issuer's business and the offering and should not repeat the factors addressed in the legends set forth above. No specific number of risk factors is required to be identified.*

## The Offering

### USE OF FUNDS

9. What is the purpose of this offering?

The Company intends to use the net proceeds of this offering for working capital and general corporate purposes, which includes the specific items listed in item 10 below. While the Company expects to use the net proceeds from the Offering in the manner described above, it cannot specify with certainty the particular uses of the net proceeds that it will receive from this Offering. Accordingly, the Company will have broad discretion in using these proceeds.

10. How does the issuer intend to use the proceeds of this offering?

If we raise: **$199,920**

Use of Proceeds: 92.5% towards the development of the Picture and additional funding efforts to produce and exploit the Picture; 7.5% towards WeFunder fees

If we raise: **$4,999,970**

Use of Proceeds: 92.5% towards the development of the Picture and additional funding efforts to produce and exploit the Picture; 7.5% towards WeFunder fees.

The minimum raise will enable the Company to continue with pre-production and participate in widespread marketing of the pre-production for additional funding raise. The maximum would accomplish the foregoing and get the project into the actual production phase.

*INSTRUCTION TO QUESTION 10: An issuer must provide a reasonably detailed description of any intended use of proceeds, such that investors are provided with an adequate amount of information to understand how the offering proceeds will be used. If an issuer has identified a range of possible uses, the issuer should identify and describe each probable use and the factors the issuer may consider in allocating proceeds among the potential uses. If the issuer will accept proceeds in excess of the target offering amount, the issuer must describe the purpose, method for allocating oversubscriptions, and intended use of the excess proceeds with similar specificity. Please include all potential uses of the proceeds of the offering, including any that may apply only in the case of oversubscriptions. If you do not do so, you may later be required to amend your Form C. Wefunder is not responsible for any failure by you to describe a potential use of offering proceeds.*

## DELIVERY & CANCELLATIONS

11. How will the issuer complete the transaction and deliver securities to the investors?

Book Entry and Investment in the Co-issuer. Investors will make their investments by investing in interests issued by one or more co-issuers, each of which is a special purpose vehicle ('SPV'). The SPV will invest all amounts it receives from investors in securities issued by the Company. Interests issued to investors by the SPV will be in book entry form. This means that the investor will not receive a certificate representing his or her investment. Each investment will be recorded in the books and records of the SPV. In addition, investors' interests in the investments will be recorded in each investor's 'Portfolio' page on the Wefunder platform. All references in this Form C to an Investor's investment in the Company (or similar phrases) should be interpreted to include investments in a SPV.

12. How can an investor cancel an investment commitment?

**NOTE: Investors may cancel an investment commitment until 48 hours prior to the deadline identified in these offering materials.**

The intermediary will notify investors when the target offering amount has been met. If the issuer reaches the target offering amount prior to the deadline identified in the offering materials, it may close the offering early if it provides notice about the new offering deadline at least five business days prior to such new offering deadline (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment).

If an investor does not cancel an investment commitment before the 48-hour period prior to the offering deadline, the funds will be released to the issuer upon closing of the offering and the investor will receive securities in exchange for his or her investment.

If an investor does not reconfirm his or her investment commitment after a material change is made to the offering, the investor's investment commitment will be cancelled and the committed funds will be returned.

**An Investor's right to cancel.** An investor may cancel his or her investment commitment at any time until 48 hours prior to the offering deadline.

If there is a material change to the terms of the offering or the information provided to the investor about the offering and/or the Company, the investor will be provided notice of the change and must re-confirm his or her investment commitment within five business days of receipt of the notice. If the investor does not reconfirm, he or she will receive

notifications disclosing that the commitment was cancelled, the reason for the cancellation, and the refund amount that the investor is required to receive. If a material change occurs within five business days of the maximum number of days the offering is to remain open, the offering will be extended to allow for a period of five business days for the investor to reconfirm.

If the investor cancels his or her investment commitment during the period when cancellation is permissible, or does not reconfirm a commitment in the case of a material change to the investment, or the offering does not close, all of the investor's funds will be returned within five business days.

Within five business days of cancellation of an offering by the Company, the Company will give each investor notification of the cancellation, disclose the reason for the cancellation, identify the refund amount the investor will receive, and refund the investor's funds.

The Company's right to cancel. The Investment Agreement you will execute with us provides the Company the right to cancel for any reason before the offering deadline.

If the sum of the investment commitments from all investors does not equal or exceed the target offering amount at the time of the offering deadline, no securities will be sold in the offering, investment commitments will be cancelled and committed funds will be returned.

## Ownership and Capital Structure

### THE OFFERING

13. Describe the terms of the securities being offered.

Priced Round: $15,000,000.00 post-money valuation

See exact security attached as Appendix B, Investor Contracts

Iron Lilly, LLC is offering up to 50,882 Class A Units (each a 'Share' and, collectively, the 'Shares' or 'Securities'), at a price per share of $100.00.

Investors in the first $499,970.00 of the offering will receive Class A Units at a price per share of $85.00, and a post-money valuation of $12,750,000.00

The campaign maximum is $4,999,970.00 and the campaign minimum is $199,920.00.

### Securities Issued by the SPV

Instead of issuing its securities directly to investors, the Company has decided to issue its securities to the SPV, which will then issue interests in the SPV to investors. The SPV has been formed by Wefunder Admin, LLC and is a co-issuer with the Company of the securities being offered in this offering. The Company's use of the SPV is intended to allow investors in the SPV to achieve the same economic exposure, voting power, and ability to assert State and Federal law rights, and receive the same disclosures, as if they had invested directly in the Company. The Company's use of the SPV will not result in any additional fees being charged to investors.

The SPV has been organized and will be operated for the sole purpose of directly acquiring, holding and disposing of the Company's securities, will not borrow money and will use all of the proceeds from the sale of its securities solely to purchase a single class of securities of the Company. As a result, an investor investing in the Company through the SPV will have the same relationship to the Company's securities, in terms of number, denomination, type and rights, as if the investor invested directly in the Company.

### Voting Rights

If the securities offered by the Company and those offered by the SPV have voting rights, those voting rights may be exercised by the investor or his or her proxy. The applicable proxy is the Lead Investor, if the Proxy (described below) is in effect.

#### **Proxy to the Lead Investor**

The SPV securities have voting rights. With respect to those voting rights, the investor and his, her, or its transferees or assignees (collectively, the "Investor"), through a power of attorney granted by Investor in the Investor Agreement, has appointed or will appoint the Lead Investor as the Investor's true and lawful proxy and attorney (the "Proxy") with the power to act alone and with full power of substitution, on behalf of the Investor to: (i) vote all securities related to the Company purchased in an offering hosted by Wefunder Portal, and (ii) execute, in connection with such voting power, any instrument or document that the Lead Investor determines is necessary and appropriate in the exercise of his or her authority. Such Proxy will be irrevocable by the Investor unless and until a successor lead investor ("Replacement Lead Investor") takes the place of the Lead Investor. Upon notice that a Replacement Lead Investor has taken the place of the Lead Investor, the Investor will have five (5) calendar days to revoke the Proxy. If the Proxy is not revoked within the 5-day time period, it shall remain in effect.

#### **Restriction on Transferability**

The SPV securities are subject to restrictions on transfer, as set forth in the Subscription Agreement and the Limited Liability Company Agreement of Wefunder SPV, LLC, and may not be transferred without the prior approval of the Company, on behalf of the SPV.

14. Do the securities offered have voting rights?

☐ Yes
☑ No

15. Are there any limitations on any voting or other rights identified above?

See the above description of the Proxy to the Lead Investor.

16. How may the terms of the securities being offered be modified?

The undersigned understands that the Company may terminate the Offering at any time. The undersigned further understands that during and following termination of the Offering, the Company may undertake offerings of other securities, which may or may not be on terms more favorable to an investor than the terms of this Offering.

Pursuant to authorization in the Investor Agreement between each Investor and Wefunder Portal, Wefunder Portal is authorized to take the following actions with respect to the investment contract between the Company and an investor:

1. Wefunder Portal may amend the terms of an investment contract, provided that the amended terms are more favorable to the investor than the original terms; and
2. Wefunder Portal may reduce the amount of an investor's investment if the reason for the reduction is that the Company's offering is oversubscribed.

#### **RESTRICTIONS ON TRANSFER OF THE SECURITIES BEING OFFERED:**

The securities being offered may not be transferred by any purchaser of such securities during the one year period beginning when the securities were issued, unless such securities are transferred:

1. to the issuer;
2. to an accredited investor;
3. as part of an offering registered with the U.S. Securities and Exchange Commission; or
4. to a member of the family of the purchaser or the equivalent, to a trust controlled by the purchaser, to a trust created for the benefit of a member of the family of the purchaser or the equivalent, or in connection with the death or divorce of the purchaser or other similar circumstances.

NOTE: The term 'accredited investor' means any person who comes within any of the categories set forth in Rule 501(a) of Regulation D, or who the seller reasonably believes comes within any of such categories, at the time of the sale of the securities to that person.

The term 'member of the family of the purchaser or the equivalent' includes a child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the purchaser, and includes adoptive relationships. The term 'spousal equivalent' means a cohabitant occupying a relationship generally equivalent to that of a spouse.

## DESCRIPTION OF ISSUER'S SECURITIES

17. What other securities or classes of securities of the issuer are outstanding? Describe the material terms of any other outstanding securities or classes of securities of the issuer.

| Class of Security | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
| --- | --- | --- | --- |
| Class B | 150,000 | 1,500 | Yes |
| Class A | 148,500 | 0 | No |

### Securities Reserved for Issuance upon Exercise or Conversion

Warrants: \_\_\_\_\_

Options: \_\_\_\_\_

Describe any other rights:

The only difference between Class B and Class A Units is voting rights. Class B Units have voting rights, while Class A Units have no voting rights.

18. How may the rights of the securities being offered be materially limited, diluted or qualified by the rights of any other class of security identified above?

The holders of a majority-in-interest of voting rights in the Company could limit the Investor's rights in a material way. For example, those interest holders could vote to change the terms of the agreements governing the Company's operations or cause the Company to engage in additional offerings (including potentially a public offering).

These changes could result in further limitations on the voting rights the Investor will have as an owner of equity in the Company, for example by diluting those rights or limiting them to certain types of events or consents.

To the extent applicable, in cases where the rights of holders of convertible debt, SAFES, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an Investor's interests in the Company may be diluted. This means that the pro-rata portion of the Company represented by the Investor's securities will decrease, which could also diminish the Investor's voting and/or economic rights. In addition, as discussed above, if a majority-in-interest of holders of securities with voting rights cause the Company to issue additional equity, an Investor's interest will typically also be diluted.

Based on the risk that an Investor's rights could be limited, diluted or otherwise qualified, the Investor could lose all or part of his or her investment in the securities in this offering, and may never see positive returns.

19. Are there any differences not reflected above between the securities being offered and each other class of security of the issuer?

No.

20. How could the exercise of rights held by the principal shareholders identified in Question 6 above affect the purchasers of the securities being offered?

As holders of a majority-in-interest of voting rights in the Company, **the unitholders** may make decisions with which the Investor disagrees, or that negatively affect the value of the Investor's securities in the Company, and the Investor will have no recourse to change these decisions. The Investor's interests may conflict with those of other investors, and there is no guarantee that the Company will develop in a way that is optimal for or advantageous to the Investor.

For example, **the unitholders** may change the terms of the Operating Agreement for the company, change the terms of securities issued by the Company, change the management of the Company, and even force out minority holders of securities. **The unitholders** may make changes that affect the tax treatment of the Company in ways that are unfavorable to you but favorable to them. They may also vote to engage in new offerings and/or to register certain of the Company's securities in a way that negatively affects the value of the securities the Investor owns. Other holders of securities of the Company may also have access to more information than the Investor, leaving the Investor at a disadvantage with respect to any decisions regarding the securities he or she owns. **The unitholders** have the right to redeem their securities at any time. Unitholders could decide to force the Company to **redeem** their **securities** at a time that is not favorable to the Investor and is damaging to the Company. Investors' exit may affect the value of the Company and/or its viability. In cases where the rights of holders of convertible debt, SAFES, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an Investor's interests in the Company may be diluted. This means that the pro-rata portion of the Company represented by the Investor's securities will decrease, which could also diminish the Investor's voting and/or economic rights. In addition, as discussed above, if a majority-in-interest of holders of securities with voting rights cause the Company to issue additional units, an Investor's interest will typically also be diluted.

Based on the risks described above, the Investor could lose all or part of his or her investment in the securities in this offering, and may never see positive returns.

21. How are the securities being offered being valued? Include examples of methods for how such securities may be valued by the issuer in the future, including during subsequent corporate actions.

The offering price for the securities offered pursuant to this Form C has been determined arbitrarily by the Company, and does not necessarily bear any relationship to the Company's book value, assets, earnings or other generally accepted valuation criteria. In determining the offering price, the Company did not employ investment banking firms or other outside organizations to make an independent appraisal or evaluation. Accordingly, the offering price should not be considered to be indicative of the actual value of the securities offered hereby.

In the future, we will perform valuations of our common unit that take into account factors such as the following:

1. 1. unrelated third party valuations of our common unit;
2. 2. the price at which we sell other securities, such as convertible debt or preferred Unit, in light of the rights, preferences and privileges of our those securities relative to those of our common unit;
3. 3. our results of operations, financial position and capital resources;
4. 4. current business conditions and projections;
5. 5. the lack of marketability of our common unit;
6. 6. the hiring of key personnel and the experience of our management;
7. 7. the introduction of new products;
8. 8. the risk inherent in the development and expansion of our products;
9. 9. our stage of development and material risks related to our business;
10. 10. the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the prevailing market conditions and the nature and history of our business;
11. 11. industry trends and competitive environment;
12. 12. trends in consumer spending, including consumer confidence;
13. 13. overall economic indicators, including gross domestic product, employment, inflation and interest rates; and

14. the general economic outlook.

We will analyze factors such as those described above using a combination of financial and market-based methodologies to determine our business enterprise value. For example, we may use methodologies that assume that businesses operating in the same industry will share similar characteristics and that the Company's value will correlate to those characteristics, and/or methodologies that compare transactions in similar securities issued by us that were conducted in the market.

22. What are the risks to purchasers of the securities relating to minority ownership in the issuer?

An investor in the Company will likely hold a minority position in the Company, and thus be limited as to its ability to control or influence the governance and operations of the Company.

The marketability and value of the investor's interest in the Company will depend upon many factors outside the control of the investor. The Company will be managed by its officers and be governed in accordance with the strategic direction and decision-making of its Management, and the investor will have no independent right to name or remove an officer or member of the Management of the Company.

Following the investor's investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the investor in the Company. The investor may have the opportunity to increase its investment in the Company in such a transaction, but such opportunity cannot be assured.

The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the investor's interest in the Company.

23. What are the risks to purchasers associated with corporate actions, including additional issuances of securities, issuer repurchases of securities, a sale of the issuer or of assets of the issuer or transactions with related parties?

Additional issuances of securities. Following the investor's investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the investor in the Company. The investor may have the opportunity to increase its investment in the Company in such a transaction, but such opportunity cannot be assured. The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the investor's interest in the Company.

Issuer repurchases of securities. The Company may have authority to repurchase its securities from unitholders, which may serve to decrease any liquidity in the market for such securities, decrease the percentage interests held by other similarly situated investors to the investor, and create pressure on the investor to sell its securities to the Company concurrently.

A sale of the issuer or of assets of the issuer. As a minority owner of the Company, the investor will have limited or no ability to influence a potential sale of the Company or a substantial portion of its assets. Thus, the investor will rely upon the executive management of the Company to manage the Company so as to maximize value for unitholders. Accordingly, the success of the investor's investment in the Company will depend in large part upon the skill and expertise of the executive management of the Company. If the Management of the Company authorizes a sale of all or a part of the Company, or a disposition of a substantial portion of the Company's assets, there can be no guarantee that the value received by the investor, together with the fair market estimate of the value remaining in the Company, will be equal to or exceed the value of the investor's initial investment in the Company.

Transactions with related parties. The Investor should be aware that there will be occasions when the Company may encounter potential conflicts of interest in its operations. On any issue involving conflicts of interest, the executive management of the Company will be guided by their good faith judgement as to the Company's best interests. The Company may engage in transactions with affiliates, subsidiaries or other related parties, which may be on terms which are not arm's-length, but will be in all cases consistent with the duties of the management of the Company to its unitholders. By acquiring an interest in the Company, the Investor will be deemed to have acknowledged the existence of any such actual or potential conflicts of interest and to have waived any claim with respect to any liability arising from the existence of any such conflict of interest.

24. Describe the material terms of any indebtedness of the issuer:

None.

INSTRUCTION TO QUESTION 24: name the creditor, amount owed, interest rate, maturity date, and any other material terms.

25. What other exempt offerings has the issuer conducted within the past three years?

| Offering Date | Exemption | Security Type | Amount Sold | Use of Proceeds |
| --- | --- | --- | --- | --- |
| 8/2022 | Section 4(a)(2) | Capital contribution for initial Class B Units. | $30,000 | General operations |

26. Was or is the issuer or any entities controlled by or under common control with the issuer a party to any transaction since the beginning of the issuer's last fiscal year, or any currently proposed transaction, where the amount involved exceeds five percent of the aggregate amount of capital raised by the issuer in reliance on Section 4(a)(6) of the Securities Act during the preceding 12- month period, including the amount the issuer seeks to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest:

1. any director or officer of the issuer;
2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
3. if the issuer was incorporated or organized within the past three years, any promoter of the issuer;
4. or any immediate family member of any of the foregoing persons.

☑ Yes
☐ No

For each transaction specify the person, relationship to issuer, nature of interest in transaction, and amount of interest.

Name City of Peace Films, Inc.

Amount Invested $30,000.00

Transaction type Priced round

Issue date 08/28/22

Relationship member

INSTRUCTIONS TO QUESTION 26: The term transaction includes, but is not limited to, any financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) or any series of similar transactions, arrangements or relationships.

Beneficial ownership for purposes of paragraph (2) shall be determined as of a date that is no more than 120 days prior to the date of filing of this offering statement and using the same calculation described in Question 6 of this Question and Answer format.

The term "member of the family" includes any child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the person, and includes adoptive relationships. The term "spousal equivalent" means a

cohabitant occupying a relationship generally equivalent to that of a spouse.

Compare the amount of a related party's interest in any transaction without regard to the amount of the profit or loss involved in the transaction. Where it is not practicable to state the approximate amount of the interest, disclose the approximate amount involved in the transaction.

## FINANCIAL CONDITION OF THE ISSUER

27. Does the issuer have an operating history?

☐ Yes
☑ No

28. Describe the financial condition of the issuer, including, to the extent material, liquidity, capital resources and historical results of operations.

### Management's Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.

#### Overview

Iron Lilly, LLC is bringing the incredible story of Lilly Farrow to the big screen!

#### Milestones

Iron Lilly, LLC was incorporated in the State of Tennessee in July 2022.

Since then, we have:

- A timeless, incredible true story that we believe will entertain and inspire audiences worldwide.
- Winner of numerous awards including the Nashville Film Festival Audience Award for Best Film
- "Rock Star" advisory team & key industry partners will ensure movie authenticity.
- Ongoing engagement of the $100 billion Powersports community to build support and anticipation.
- Building awareness of Lilly's amazing story to women's support & empowerment groups
- Team has lifetimes of experience in movies, music, branding, powersports and licensing.
- Core market of 9.2 million motorcyclist in USA alone, Riders Share estimates 600 million globally

The Company is subject to risks and uncertainties common to early-stage companies. Given the Company's limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future.

#### Historical Results of Operations

Our company was organized in July 2022 and has limited operations upon which prospective investors may base an evaluation of its performance.

- *Revenues & Gross Margin*. For the period ended December 31, 2022, the Company had revenues of $0

- Assets. As of December 31, 2022, the Company had total assets of $17,653, including $17,653 in cash.
- Net Loss. The Company has had net losses of $12,347 for 2022.
- Liabilities. The Company's liabilities totaled $0 for 2022.

### Liquidity & Capital Resources

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 months before we need to raise further capital.

City of Peace Films, Inc., a production company, is currently the only owner of Iron Lilly, LLC. City of Peace will continue to fundraise and enter into production, development and distribution arrangements on behalf of Iron Lilly, LLC.

We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don't have any other sources of capital in the immediate future.

We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 6 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.

### Runway & Short/Mid Term Expenses

Iron Lilly, LLC cash in hand is $17,653, as of February 2023. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $12,347/month, for an average burn rate of $12,347 per month. Our intent is to be profitable in 24 months.

Since the last date that our finances cover, no material trends have occurred in the financials.

We expect no revenue in the next three to six months. We expect to raise an additional $5,000,000 to $10,000,000 in funds for the production, development and marketing of the film.

We do not expect to be profitable until the film has been completed and we are able to exploit and otherwise distribute the film and generate revenue from licensing and other marketing efforts. We expect to need $5,000,000 to $10,000,000 to finish the film development and marketing.

We have no other funds except funding from affiliates of the Company. We may use funds from affiliates to continue the short term burn.

All projections in the above narrative are forward-looking and not guaranteed.

INSTRUCTIONS TO QUESTION 28: The discussion must cover each year for which financial statements are provided. For issuers with no prior operating history, the discussion should focus on financial milestones and operational, liquidity and other challenges. For issuers with an operating history, the discussion should focus on whether historical results and cash flows are representative of what investors should expect in the future. Take into account the proceeds of the offering and any other known or pending sources of capital. Discuss how the proceeds from the offering will affect liquidity, whether receiving these funds and any other additional funds is necessary to the viability of the business, and how quickly the issuer anticipates using its available cash. Describe the other available sources of capital to the business, such as lines of credit or required contributions by shareholders. References to the issuer in this Question 28 and these instructions refer to the issuer and its predecessors, if any.

# FINANCIAL INFORMATION

29. Include financial statements covering the two most recently completed fiscal years or the period(s) since inception, if shorter:

Refer to Appendix C, Financial Statements

1. Yochanan Marcellino, certify that:

(1) the financial statements of Iron Lilly, LLC included in this Form are true and complete in all material respects ; and

(2) the financial information of Iron Lilly, LLC included in this Form reflects accurately the information reported on the tax return for Iron Lilly, LLC filed for the most recently completed fiscal year.

Yochanan Marcellino
Managing Member

# STAKEHOLDER ELIGIBILITY

30. With respect to the issuer, any predecessor of the issuer, any affiliated issuer, any director, officer, general partner or managing member of the issuer, any beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, any promoter connected with the issuer in any capacity at the time of such sale, any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of securities, or any general partner, director, officer or managing member of any such solicitor, prior to May 16, 2016:

(1) Has any such person been convicted, within 10 years (or five years, in the case of issuers, their predecessors and affiliated issuers) before the filing of this offering statement, of any felony or misdemeanor:

i. in connection with the purchase or sale of any security? ☐ Yes ☑ No
ii. involving the making of any false filing with the Commission? ☐ Yes ☑ No
iii. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities? ☐ Yes ☑ No

(2) Is any such person subject to any order, judgment or decree of any court of competent jurisdiction, entered within five years before the filing of the information required by Section 4A(b) of the Securities Act that, at the time of filing of this offering statement, restrains or enjoins such person from engaging or continuing to engage in any conduct or practice:

i. in connection with the purchase or sale of any security? ☐ Yes ☑ No
ii. involving the making of any false filing with the Commission? ☐ Yes ☑ No
iii. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities? ☐ Yes ☑ No

(3) Is any such person subject to a final order of a state securities commission (or an agency or officer of a state performing like functions); a state authority that supervises or examines banks, savings associations or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the U.S. Commodity Futures Trading Commission; or the National Credit Union Administration that:

i. at the time of the filing of this offering statement bars the person from:
A. association with an entity regulated by such commission, authority, agency or officer? ☐ Yes ☑ No
B. engaging in the business of securities, insurance or banking? ☐ Yes ☑ No
C. engaging in savings association or credit union activities? ☐ Yes ☑ No
ii. constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing

of this offering statement? ☐ Yes ☑ No

(4) Is any such person subject to an order of the Commission entered pursuant to Section 15(b) or 15B(c) of the Exchange Act or Section 203(e) or (f) of the Investment Advisers Act of 1940 that, at the time of the filing of this offering statement:

i. suspends or revokes such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal? ☐ Yes ☑ No
ii. places limitations on the activities, functions or operations of such person? ☐ Yes ☑ No
iii. bars such person from being associated with any entity or from participating in the offering of any penny stock? ☐ Yes ☑ No

(5) Is any such person subject to any order of the Commission entered within five years before the filing of this offering statement that, at the time of the filing of this offering statement, orders the person to cease and desist from committing or causing a violation or future violation of:

i. any scienter-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other rule or regulation thereunder? ☐ Yes ☑ No
ii. Section 5 of the Securities Act? ☐ Yes ☑ No

(6) Is any such person suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?

☐ Yes ☑ No

(7) Has any such person filed (as a registrant or issuer), or was any such person or was any such person named as an underwriter in, any registration statement or Regulation A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is any such person, at the time of such filing, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?

☐ Yes ☑ No

(8) Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(b) of the Securities Act, or is any such person, at the time of filing of this offering statement, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

☐ Yes ☑ No

If you would have answered "Yes" to any of these questions had the conviction, order, judgment, decree, suspension, expulsion or bar occurred or been issued after May 16, 2016, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.

INSTRUCTIONS TO QUESTION 10: Final order means a written directive or declaratory statement issued by a federal or state agency, described in Rule 503(a)(3) of Regulation Crowdfunding, under applicable statutory authority that provides for notice and an opportunity for hearing, which constitutes a final disposition or action by that federal or state agency.

No matters are required to be disclosed with respect to events relating to any affiliated issuer that occurred before the affiliation arose if the affiliated entity is not (i) in control of the issuer or (ii) under common control with the issuer by a third party that was in control of the affiliated entity at the time of such events.

## OTHER MATERIAL INFORMATION

31. In addition to the information expressly required to be included in this Form, include:

- (1) any other material information presented to investors; and
- (2) such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under which they are made, not misleading.

The Lead Investor. As described above, each Investor that has entered into the Investor Agreement will grant a power of attorney to make voting decisions on behalf of that Investor to the Lead Investor (the 'Proxy'). The Proxy is irrevocable unless and until a Successor Lead Investor takes the place of the Lead Investor, in which case, the Investor has a five (5) calendar day period to revoke the Proxy. Pursuant to the Proxy, the Lead Investor or his or her successor will make voting decisions and take any other actions in connection with the voting on Investors' behalf.

The Lead Investor is an experienced investor that is chosen to act in the role of Lead Investor on behalf of Investors that have a Proxy in effect. The Lead Investor will be chosen by the Company and approved by Wefunder Inc. and the identity of the initial Lead Investor will be disclosed to Investors before Investors make a final investment decision to purchase the securities related to the Company.

The Lead Investor can quit at any time or can be removed by Wefunder Inc. for cause or pursuant to a vote of investors as detailed in the Lead Investor Agreement. In the event the Lead Investor quits or is removed, the Company will choose a Successor Lead Investor who must be approved by Wefunder Inc. The identity of the Successor Lead Investor will be disclosed to Investors, and those that have a Proxy in effect can choose to either leave such Proxy in place or revoke such Proxy during a 5-day period beginning with notice of the replacement of the Lead Investor.

The Lead Investor will not receive any compensation for his or her services to the SPV. The Lead Investor may receive compensation if, in the future, Wefunder Advisors LLC forms a fund ('Fund') for accredited investors for the purpose of investing in a non-Regulation Crowdfunding offering of the Company. In such as circumstance, the Lead Investor may act as a portfolio manager for that Fund (and as a supervised person of Wefunder Advisors) and may be compensated through that role.

Although the Lead Investor may act in multiple roles with respect to the Company's offerings and may potentially be compensated for some of its services, the Lead Investor's goal is to maximize the value of the Company and therefore maximize the value of securities issued by or related to the Company. As a result, the Lead Investor's interests should always be aligned with those of Investors. It is, however, possible that in some limited circumstances the Lead Investor's interests could diverge from the interests of Investors, as discussed in section 8 above.

Investors that wish to purchase securities related to the Company through Wefunder Portal must agree to give the Proxy described above to the Lead Investor, provided that if the Lead Investor is replaced, the Investor will have a 5-day period during which he or she may revoke the Proxy. If the Proxy is not revoked during this 5-day period, it will remain in effect.

Tax Filings. In order to complete necessary tax filings, the SPV is required to include information about each investor who holds an interest in the SPV, including each investor's taxpayer identification number ('TIN') (e.g., social security number or employer identification number). To the extent they have not already done so, each investor will be required to provide their TIN within the earlier of (i) two (2) years of making their investment or (ii) twenty (20) days prior to the date of any distribution from the SPV. If an investor does not provide their TIN within this time, the SPV reserves the right to withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations as well as the SPV's reasonable estimation of any penalties that may be charged by the IRS or other relevant authority as a result of the investor's failure to provide their TIN. Investors should carefully review the terms of the SPV Subscription Agreement for additional information about tax filings.

*INSTRUCTIONS TO QUESTION 30: If information is presented to investors in a format, media or other means not able to be reflected in text or portable document format, the issuer should include:*

*(a) a description of the material content of such information;*

*(b) a description of the format in which such disclosure is presented; and*

*(c) in the case of disclosure in video, audio or other dynamic media or format, a transcript or description of*

such disclosure.

# ONGOING REPORTING

32. The issuer will file a report electronically with the Securities & Exchange Commission annually and post the report on its website, no later than:

120 days after the end of each fiscal year covered by the report.

33. Once posted, the annual report may be found on the issuer's website at:

https://ironlilly.com/invest

The issuer must continue to comply with the ongoing reporting requirements until:

1. the issuer is required to file reports under Exchange Act Sections 13(a) or 15(d);
2. the issuer has filed at least one annual report and has fewer than 300 holders of record;
3. the issuer has filed at least three annual reports and has total assets that do not exceed $10 million;
4. the issuer or another party purchases or repurchases all of the securities issued pursuant to Section 4(a)(6), including any payment in full of debt securities or any complete redemption of redeemable securities; or the issuer liquidates or dissolves in accordance with state law.

# APPENDICES

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

SPV Subscription Agreement - Early Bird
Early Bird Iron Lilly Subscription Agreement
SPV Subscription Agreement
Iron Lilly Subscription Agreement

Appendix C: Financial Statements

Financials 1

Appendix D: Director & Officer Work History

Yochanan Marcellino

Appendix E: Supporting Documents

ttw_communications_121732_202227.pdf
Iron_Lilly_-_Operating_Agreement_Executed.pdf

# Signatures

Intentional misstatements or omissions of facts constitute federal criminal violations. See 18 U.S.C. 1001.

The following documents will be filed with the SEC:

Cover Page XML

Offering Statement (this page)

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

SPV Subscription Agreement - Early Bird
Early Bird Iron Lilly Subscription Agreement
SPV Subscription Agreement
Iron Lilly Subscription Agreement

Appendix C: Financial Statements

Financials 1

Appendix D: Director & Officer Work History

Yochanan Marcellino

Appendix E: Supporting Documents

ttw_communications_121732_202227.pdf
Iron_Lilly_-_Operating_Agreement_Executed.pdf

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form C and has duly caused this Form to be signed on its behalf by the duly authorized undersigned.

Iron Lilly, LLC

By

Yochanan Marcellino

Producer

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), this Form C and Transfer Agent Agreement has been signed by the following persons in the capacities and on the dates indicated.

Yochanan Marcellino

Producer
2/24/2023

The Form C must be signed by the issuer, its principal executive officer or officers, its principal financial officer, its controller or principal accounting officer and at least a majority of the board of directors or persons performing similar functions.

I authorize Wefunder Portal to submit a Form C to the SEC based on the information I provided through this online form and my company's Wefunder profile.

As an authorized representative of the company, I appoint Wefunder Portal as the company's true and lawful representative and attorney-in-fact, in the company's name, place and stead to make, execute, sign, acknowledge, swear to and file a Form C on the company's behalf. This power of attorney is coupled with an interest and is irrevocable. The company hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of Wefunder Portal taken in good faith under or in reliance upon this power of attorney.

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**Attachment 2:** `document_2.pdf`

INVEST IN IRON LILLY

# Bringing the incredible story of Lilly Farrow to the big screen!

![img-0.jpeg](img-0.jpeg)

ironlilly.com Nashville Tennessee

LEAD INVESTOR

Chris Anthony

I've known the people behind the Iron Lilly project for a couple decades, and I believe they will produce this story with the highest quality possible and I want to support it in any way I can. I've learned a lot about Lilly Farrow through this effort and I believe that everyone will enjoy this truly inspiring story.

Invested $20,000 this round

# Highlights

1. A timeless, incredible true story that we believe will entertain and inspire audiences worldwide.
2. Winner of numerous awards including the Nashville Film Festival Audience Award for Best Film**
3. "Rock Star" advisory team & key industry partners to ensure movie authenticity.
4. Ongoing engagement of the $100 billion Powersports community to build support and anticipation.
5. Building awareness of Lilly's amazing story to women's support & empowerment groups
6. Team has lifetimes of experience in movies, music, branding, powersports and licensing.
7. Core market of 9.2 million motorcyclist in USA alone, Riders Share estimates 600 million globally
8. Multiple potential revenue streams from movie, ancillary products & licensing

opportunities

## Our Team

![img-1.jpeg](img-1.jpeg)

### **Yochanan Marcellino** Producer

Co-Founder, President and CEO of Iron Lilly, LLC, City of Peace Media and City of Peace Films, Inc. His 40+ years as a Music and Film Producer in the entertainment industry has encouraged the hearts of millions around the world.

![img-2.jpeg](img-2.jpeg)

### **Michael Johnson** Iron Lilly, LLC

Entrepreneur involved in a number of companies over the years usually as co-founder/owner including Esenjay Petroleum, Aptera Motors, Flux Power, Honey Brake Lodge, The Confluence Group, and now a founder of Iron Lilly, LLC. Motorcyclist.

![img-3.jpeg](img-3.jpeg)

### **Jill Parham** Founder of J&P Cycles

Sturgis Hall of Fame, President, National Motorcycle Museum, Top 100 women in Powersports

![img-4.jpeg](img-4.jpeg)

### **Gail Worth** Dealer Principal, Gail's Powersports, Grandview, MO.

Top 100 women in Powersports

![img-5.jpeg](img-5.jpeg)

### **Marilyn Stemp** Moto Journalist/Author

Sturgis Hall of Fame, Top 100 women in Powersports

![img-6.jpeg](img-6.jpeg)

### **Tigra Tsujikawa** Member TOP 100 Women in Powersports

Rider/Enthusiast/Marketing Maven

![img-7.jpeg](img-7.jpeg)

### **Cris Sommer Simmons** Moto Journalist/Author

National Motorcycle Museum Hall of Fame, Sturgis Hall of Fame, AMA Hall of Fame, Top 100 women in Powersports

![img-8.jpeg](img-8.jpeg)

### **Brittney Olsen** Racer, Restorer

Founder 20th Century Racing, Co-Founder, VP, The Spirit of Sturgis, Top 100 women in Powersports

### **Jerry Marcellino** Producer

As a legendary music producer Jerry has combined sales of 50 million albums

worldwide. Producing the likes of Michael Jackson, Diana Ross, Bobby Darin and Frankie Valli just to name a few. He brings over 50+ years of experience to the Iron Lilly movie.

![img-9.jpeg](img-9.jpeg)

# Donald Noes Executive Producer

Bringing 35 years to the entertainment industry, Noes served as SVP of Sales & Marketing for the Sony/Provident Music Group in 2012, Noes became Chief Operating Officer for City of Peace Media, Co-Producer, and Executive Music Producer for The Identical.

![img-10.jpeg](img-10.jpeg)

# Bob Althoff Exec. Producer

One of the owners of the Farrow dealerships in the greater Columbus area. Owner of Dealernews. Bob has a lifelong dedication to the business, lifestyle, community and sport of motorcycles. Motorcyclist.

![img-11.jpeg](img-11.jpeg)

# Sarah Hardwick Marketing Advisor

CMO Aptera Motors. Founder of award-winning agency Zenzi. History of success collaborating with high-profile brands including Nestle, Chiquita, Crystal Geyser, AOL/Mapquest, Churchill Downs, DirecTV.

![img-12.jpeg](img-12.jpeg)

# Erich NICHOLS Legal

Erich Nichols J.D., LL.M is a partner in the law firm of Nine29 Advisors, PLLC. He primarily concentrates in regulatory, business and corporate matters, mergers & acquisitions, intellectual property licensing & finance & transactional work. Motorcyclist.

# Pitch

![img-13.jpeg](img-13.jpeg)

# MISSION & VISION OF IRON LILLY LLC.

Iron Lilly, LLC was created to bring awareness and appreciation for the incredible life and contributions of Lilly Farrow to the emerging motorcycle industry at the turn of the 20th century. This is centered around producing a premium independent feature film with Hollywood quality production & acting talent. Projected release is 4th Qrt. 2024-1st Qrt. 2025. Throughout this process we will continue to actively market the IRON Lilly brand to increasingly build awareness and anticipation prior to theatrical release.

![img-14.jpeg](img-14.jpeg)

All on the Iron Lilly team are excited about this mission and the worthy cause of elevating this great lady. It is our vision and plan that all who share our passion will join us as equity owners and/or ambassadors on this amazing journey.

This can be a mighty force as our initial large core audience to bring this inspiring story to the world.

It is about SO MUCH MORE than motorcycling!

![img-15.jpeg](img-15.jpeg)

*Forward-looking projections can't be guaranteed.

# A TRUE STORY

about a woman whose life made, and will make, the difference in millions of lives. Lilly Farrow fell in love, started a business as a twenty-year old, became a single mom and a motorcycle industry pioneer. Her fierce resolve and kind insistence on nurturing her own family and the big, colorful, inclusive, fun-loving and generous family of motorcycle customers was, and is, Lilly's legacy. Through an American century marked by wars and pandemic, boom and bust, We humbly ask your help to tell the story of a lifetime-the story of Iron Lilly!

![img-16.jpeg](img-16.jpeg)

![img-17.jpeg](img-17.jpeg)

![img-18.jpeg](img-18.jpeg)

# A movie & brand that will uplift an industry & change lives!

www.ironlilly.com

## THE MOVIE

The movie takes place primarily in the vibrant roaring 1920's. With the feel of films like 'Seabiscuit' and the 'Great Gatsby', plus the excitement of the early days of motorcycle racing, the visuals promise to be stunning. But ultimately, it is the powerful themes that give this true story its heart. Lilly eventually realized that she wasn't selling 'rubber and steel, but community and belonging'. She was a pioneer in creating the diverse motorcycle culture that continues today as she welcomed people from all sorts of backgrounds...rich and poor, young and old, black and white.

![img-19.jpeg](img-19.jpeg)

Lilly's bravery and steely determination against all odds, and her generous compassion for those in her community, will inspire audiences of all types. It offers the non-motorcycle riding audience a unique, fascinating introduction to the incredible camaraderie and generosity of 'the Powersports community.'

![img-20.jpeg](img-20.jpeg)

![img-21.jpeg](img-21.jpeg)

Lilly Farrow's life is a testament to all that is good about motorcycling. Sure, there are elements of speed, power, thrills and risk. But Lilly's story is about so much more. Lilly's story transcends time. Her dogged determination to hold on to a dream is as important today as it was at the turn of the twentieth century. Her beauty and grace and essential humanity gave her insight to what has powered a now multi-100 billion dollar world-wide industry. Lilly's story will speak to every dreamer, to every entrepreneur, to everyone who has dared to face long odds.

![img-22.jpeg](img-22.jpeg)

## THE POWER OF THE BRAND
BRAND LICENSING BUSINESS DEVELOPMENT

The Iron Lilly Brand is worthy of licensed merchandise for consumer markets. Lillian Farrow's legacy leaves its mark in the brand of IRON Lilly.

![img-23.jpeg](img-23.jpeg)

## FIRST LICENSEE IS SECURED

PREMIUM PERFORMANCE GEAR FOR YOUR EYES

![img-24.jpeg](img-24.jpeg)

**IRON Lilly** POLARIZED
Lenses Manufactured by Carl Zeiss Vision

## RIDE FOR THE BRAND

We are focusing on working with manufactures who already have distribution established within the endemic trade space. With success in creating awareness for Iron Lilly, we anticipate a demand for consumer direct sales as well. The Iron Lilly website will anchor the consumer direct programs.

![img-25.jpeg](img-25.jpeg)

## MILESTONES REACHED TO DATE

ALL LEGAL RIGHTS ACQUIRED

TEAM ASSEMBLED

SCREENBLACK WRITTEN

SCREENPLAY WRITTEN
DIRECTOR ATTACHED
BRAND ESTABLISHED
WEBSITE LAUNCHED

## ONGOING GOALS

ORIGINAL MUSIC IN DEVELOPMENT
EMPOWERMENT OUTREACH
ENGAGEMENT OF THE POWER SPORTS INDUSTRY

## FILM PRODUCTION TIMELINE

21 Month Timeline - Subject to Complete Film Financing

![img-26.jpeg](img-26.jpeg)

*Forward-looking projections can't be guaranteed.

## USE OF FUNDS

### ADVANCE MOVIE DEVELOPMENT

Secure top acting and production talent, secure set locations and develop a detailed production & marketing budget.

### CONTINUE EARLY MARKETING

Continued engagement of all target groups including tradeshows, motorcycle conventions and rallies, industry and dealer events and women's support/empowerment groups and organizations

Social Media Advertising - Facebook, Instagram / Website
Continued Development of Licensing & Merchandise / Branding for Iron Lilly

# VERY SPECIAL CONTRIBUTORS

![img-27.jpeg](img-27.jpeg)

Lorraine Rardain-Lilly Farrow's Granddaughter
Lilli Hopson-Lilly Farrow's Granddaughter
Donna Farrow-Lilly Farrow's Granddaughter

# IRON LILLY TEAM
ADVISORY TEAM

![img-28.jpeg](img-28.jpeg)

Brittney Olsen

Racer, Restorer
Founder 20th Century Racing,
Co-Founder, VP, The Spirit of Sturgis
Member TOP 100 Women in Powersports

Jill Parham

Founder of J&P Cycles
Sturgis Hall of Fame, President, National
Motorcycle Museum
Member TOP 100 Women in Powersports

Tigra Tsujikawa

Rider/Enthusiast/Marketing Maver.
Member TOP 100 Women in Powersports

![img-29.jpeg](img-29.jpeg)

Cris Sommer Simmons

Meto Journalist/Author
National Motorcycle Museum Hall of Fame,
Sturgis Hall of Fame, AMA Hall of Fame
Member TOP 100 Women in Powersports

Gail Worth

Dealer Principal, Gail's Powersports,
Grandview, MO
Member TOP 100 Women in Powersports

Marilyn Slemp

Meto Journalist/Author
Sturgis Hall of Fame
Member TOP 100 Women in Powersports

## IRON LILLY TEAM

![img-0.jpeg](img-0.jpeg)

### Michael Johnson

Entrepreneur involved in a number of companies over the years usually as co-founder including *Energy Petroleum*, *Harvey Brake Lodge*, *The Confluence Group*, *Aphids Motors*, *Flax Power*, and now a founder of Iron Lilly, LLC.

![img-1.jpeg](img-1.jpeg)

### Yochanan Marcellino

Co-Founder, President and CEO of Iron Lilly, LLC, City of Peace Media and City of Peace Films, Inc. His 40+ years as a Music and Film Producer in the entertainment industry has encouraged the hearts of millions around the world.

![img-2.jpeg](img-2.jpeg)

### Bob Althoff

Owner of the landmark A.D. Reecee Hadley Davidson dealership as well as a second location in the greater Co-lumber area, Owner of Dealerness. Bob has a lifelong dedication to the business, lifestyle, community and sport of motorcycles.

SEE BELOW TO HEAR FROM MICHAEL JOHNSON

IRON Lilly

iron_lilly_mj (1080p) (1)

Iron Lilly

![img-3.jpeg](img-3.jpeg)

01838

vimeo

![img-4.jpeg](img-4.jpeg)

### Yochanan Marcellino

Co-Founder, President and CEO of Iron Lilly, LLC, City of Peace Media and City of Peace Films, Inc. His 40+ years as a Music and Film Producer in the entertainment industry has encouraged the hearts of millions around the world.

![img-5.jpeg](img-5.jpeg)

### Don Noes

Bringing 35 years to the entertainment industry, Noes served as SVP of Sales & Marketing for the Sony/Provident Music Group, SVP of Business Development for Integra Music and Chief Operating Officer for City of Peace Media. Noes was Co-Producer, and Executive Music Producer for The Identical.

## IRON LILLY TEAM

City of Peace

![img-6.jpeg](img-6.jpeg)

![img-7.jpeg](img-7.jpeg)

# Jerry Marcellino

As a legendary music producer Jerry has combined sales of 50 million albums worldwide. Producing the likes of Michael Jackson, Diana Ross, Bobby Darin and Frankie Valli just to name a few. He brings over 50+ years of experience to the Iron Lilly movie.

# Brian Baugh

Brian Baugh is an American director, screenwriter and producer known for his commitment to telling socially relevant and inspiring human stories that span genres.

![img-8.jpeg](img-8.jpeg)

![img-9.jpeg](img-9.jpeg)

www.cityofpeace.com

![img-10.jpeg](img-10.jpeg)

![img-11.jpeg](img-11.jpeg)

![img-12.jpeg](img-12.jpeg)

**City of Peace Films, Inc., a production company, is currently the only owner of Iron Lilly, LLC. City of Peace will continue to fundraise and enter into production, development and distribution arrangements on behalf of Iron Lilly, LLC. City of Peace Films, Inc. won the afroementioned awards for producing Iron Lilly.

## Downloads

4 page insert dealer news for AIME.pdf

investor perks download.pdf

**Attachment 3:** `document_3.pdf`

# IRON LILLY, LLC

# SUBSCRIPTION AGREEMENT

THE SECURITIES ARE BEING OFFERED PURSUANT TO SECTION 4(A)(6) AND REGULATION CROWDFUNDING OF THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. NO FEDERAL OR STATE SECURITIES ADMINISTRATOR HAS REVIEWED OR PASSED ON THE ACCURACY OR ADEQUACY OF THE OFFERING MATERIALS FOR THESE SECURITIES. THERE ARE SIGNIFICANT RESTRICTIONS ON THE TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN AND NO RESALE MARKET MAY BE AVAILABLE AFTER RESTRICTIONS EXPIRE. THE PURCHASE OF THESE SECURITIES INVOLVES A HIGH DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT WITHOUT A CHANGE IN THEIR LIFESTYLE.

IRON LILLY, LLC

1255 Honey Prong Road

Hartsville, Tennessee 37074

1. Background. The undersigned understands that Iron Lilly, LLC, a Tennessee limited liability company (the "Company"), is conducting an offering (the "Offering") under Section 4(a)(6) of the Securities Act of 1933, as amended (the "Securities Act") and Regulation Crowdfunding promulgated thereunder. This Offering is made pursuant to the Form C of the Company that has been filed by the Company with the Securities and Exchange Commission and is being made available on the WeFunder crowdfunding portal's (the "Portal") website, as the same may be amended from time to time (the "Form C") and the Offering Statement, which is included therein (the "Offering Statement"). The Company is offering to both accredited and non-accredited investors up to 50,882 Class A Units at a total post-money valuation of the Company of $15,000,000 (each a "Share" and, collectively, the "Shares" or "Securities") at a purchase price of $100.00 per Share (such purchase price is the "Purchase Price"). Investors in the first $499,970.00 of investments ("Early Bird" Investors) will receive a discounted price of $85.00 per share and a post-money valuation of $12,750,000.00. The minimum amount or target amount to be raised in the Offering is $199,920 (the "Target Offering Amount") and the maximum amount to be raised in the Offering is $4,999,970 (the "Maximum Offering Amount"). If the Offering is oversubscribed beyond the Target Offering Amount, the Company will sell Shares on a basis to be determined by the Company's management. The Company is offering the Shares to prospective investors through the Portal. The Portal is registered with the Securities and Exchange Commission (the "SEC") as a funding portal and is a funding portal member of the Financial Industry Regulatory Authority. The Company will pay the Portal a commission equal to 7.5% of gross monies raised in the Offering. Investors should carefully review the Form C and the accompanying Offering Statement, which are available on the website of the Portal at www.wefunder.com.

The investors will be Class A Members in the Company and will own a non-voting, equity interest in the Company pursuant to holdings such Class A Units. The Company intends to

make distributions out of its Available Cash Flow to the Members (which includes all classes of Members) pro rata based upon their respective membership percentages. The Company intends to generate revenue that will be distributed as Available Cash Flow from exploitation of the picture, distribution of the picture, ticket sales, licensing revenue and all other potential streams of revenue. Membership percentages for the Class A Members is the percentage of such Class A Member's interest in the Company as a result of the amount of funds invested in the Company at a $15,000,000 Company valuation. "Available Cash Flow" means all cash, revenues and funds received by the Company, less amounts set aside by the Company for required debt service of principal and interest; cash expenditures incurred incident to the normal operation of the Company's business; financial reserves as the Manager deems reasonably necessary to the proper operation of the Company's business; and certain other expenses that may include (to the extent applicable):

(1) Collection of account management costs and fees;
(2) Residuals and applicable payments owed to or on behalf of unions and guilds, including without limitation SAG-AFTRA;
(3) Any bonus payments to third parties, to the extent paid by Company (e.g. box office bonuses);
(4) To the extent not deducted off the top prior to receipt of Company gross revenue, all distribution fees and distribution costs (including, without limitation, ad overhead, if charged), all sales fees if applicable, and any fees and/or costs to third parties who represent the picture;
(5) All marketing and distribution costs paid by Company (including, without limitation, residuals, union obligations, delivery items, costs for producers, director, cast and others related to the picture to attend premieres, film festivals and film markets);
(6) All payments to agents, accountants, attorneys and other parties who represent the picture;
(7) Any payments paid as advances, royalties or otherwise in connection with the exploitation of ancillary and subsidiary rights; and
(8) All costs of auditing any distributor of the picture of any ancillary or subsidiary rights (including without limitation, legal and auditor fees and costs).

## 2. Subscription

(a) Terms. Subject to the terms of this Subscription Agreement (the "Agreement") and the Form C and related Offering Statement, the undersigned hereby subscribes to purchase the number of Shares equal to the quotient of the undersigned's subscription amount as indicated through the Portal's platform divided by the Purchase Price and shall pay the aggregate Purchase Price in the manner specified in the Form C and Offering Statement and as per the directions of the Portal through the Portal's website. Such subscription shall be deemed to be accepted by the Company only when this Agreement is countersigned on the Company's behalf. No investor may subscribe for a Share in the Offering after the Offering campaign deadline as specified in the Offering Statement and on the Portal's website (the "Offering Deadline").

(b) Acceptance. It is understood and agreed that the Company shall have the sole right, at its complete discretion, to accept or reject this subscription, in whole or in part, for any reason and that the same shall be deemed to be accepted by the Company only when it is signed by a duly authorized officer of the Company and delivered to the undersigned at the Closing referred to in Section 3 hereof. Subscriptions need not be accepted in the order received, and the Securities may be allocated among subscribers. Notwithstanding anything in this Agreement to the contrary, the Company shall have no obligation to issue any of the Securities to any person who is a resident of a jurisdiction in which the issuance of Securities to such person would constitute a violation of the securities, "blue sky" or other similar laws of such jurisdiction (collectively referred to as the "State Securities Laws").

(c) Payment. Payment for the Securities shall be received by the Company from the undersigned by wire transfer of immediately available funds or other means approved by the Company at or prior to the Closing, for the aggregate Purchase Price for the number of Shares such Subscriber is purchasing.

### 3. Closing.

(a) Closing. Subject to Section 3(b), the closing of the sale and purchase of the Shares pursuant to this Agreement (the "Closing") shall take place through the Portal within five (5) Business Days after the Offering Deadline (the "Closing Date").

(b) Closing Conditions. The Closing is conditioned upon satisfaction of all the following conditions:

(i) prior to the Offering Deadline, the Company shall have received aggregate subscriptions for Shares in an aggregate investment amount of at least the Target Offering Amount;

(ii) at the time of the Closing, the Company shall have received into the escrow account established with the Portal and the escrow agent in cleared funds, and is accepting, subscriptions for Shares having an aggregate investment amount of at least the Target Offering Amount;

(iii) the Company shall file the Articles of Formation with the Secretary of State of the State of Tennessee; and the representations and warranties of the Company contained in Section 7 hereof and of the undersigned contained in Section 5 hereof shall be true and correct as of the Closing in all respects with the same effect as though such representations and warranties had been made as of the Closing.

4. Termination of the Offering; Other Offerings. The undersigned understands that the Company may terminate the Offering at any time. The undersigned further

understands that during and following termination of the Offering, the Company may undertake offerings of other securities, which may or may not be on terms more favorable to an investor than the terms of this Offering.

**5. Subscriber Representations.** The undersigned represents and warrants to the Company and the Company's agents as follows:

(a) The undersigned understands and accepts that the purchase of the Shares involves various risks, including the risks outlined in the Form C, the accompanying Offering Statement, and in this Agreement. The undersigned can bear the economic risk of this investment and can afford a complete loss thereof; the undersigned has sufficient liquid assets to pay the full purchase price for the Shares; and the undersigned has adequate means of providing for its current needs and possible contingencies and has no present need for liquidity of the undersigned's investment in the Company.

(b) The undersigned acknowledges that at no time has it been expressly or implicitly represented, guaranteed or warranted to the undersigned by the Company or any other person that a percentage of profit and/or amount or type of gain or other consideration will be realized because of the purchase of the Shares.

(c) Including the amount set forth on the signature page hereto, in the past 12-month period, the undersigned has not exceeded the investment limit as set forth in Rule 100(a)(2) of Regulation Crowdfunding.

(d) The undersigned has received and reviewed a copy of the Form C and accompanying Offering Statement. With respect to information provided by the Company, the undersigned has relied solely on the information contained in the Form C and accompanying Offering Statement to make the decision to purchase the Shares.

(e) The undersigned confirms that it is not relying and will not rely on any communication (written or oral) of the Company, the Portal, or any of their respective affiliates, as investment advice or as a recommendation to purchase the Shares. It is understood that information and explanations related to the terms and conditions of the Shares provided in the Form C and accompanying Offering Statement or otherwise by the Company, the Portal or any of their respective affiliates shall not be considered investment advice or a recommendation to purchase the Shares, and that neither the Company, the Portal nor any of their respective affiliates is acting or has acted as an advisor to the undersigned in deciding to invest in the Shares. The undersigned acknowledges that neither the Company, the Portal nor any of their respective affiliates have made any representation regarding the proper characterization of the Shares for purposes of determining the undersigned's authority or suitability to invest in the Shares.

(f) The undersigned is familiar with the business and financial condition and operations of the Company, all as generally described in the Form C and accompanying Offering Statement. The undersigned has had access to such information concerning the Company and the

Shares as it deems necessary to enable it to make an informed investment decision concerning the purchase of the Shares.

(g) The undersigned understands that, unless the undersigned notifies the Company in writing to the contrary at or before the Closing, each of the undersigned's representations and warranties contained in this Agreement will be deemed to have been reaffirmed and confirmed as of the Closing, taking into account all information received by the undersigned.

(h) The undersigned acknowledges that the Company has the right in its sole and absolute discretion to abandon this Offering at any time prior to the completion of the Offering. This Agreement shall thereafter have no force or effect and the Company shall return any previously paid subscription price of the Shares, without interest thereon, to the undersigned.

(i) The undersigned understands that no federal or state agency has passed upon the merits or risks of an investment in the Shares or made any finding or determination concerning the fairness or advisability of this investment.

(j) The undersigned confirms that the Company has not (i) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise) and of investment in the Shares or (ii) made any representation to the undersigned regarding the legality of an investment in the Shares under applicable legal investment or similar laws or regulations. In deciding to purchase the Shares, the undersigned is not relying on the advice or recommendations of the Company and the undersigned has made its own independent decision, alone or in consultation with its investment advisors, that the investment in the Shares is suitable and appropriate for the undersigned.

(k) The undersigned has such knowledge, skill and experience in business, financial and investment matters that the undersigned is capable of evaluating the merits and risks of an investment in the Shares. With the assistance of the undersigned's own professional advisors, to the extent that the undersigned has deemed appropriate, the undersigned has made its own legal, tax, accounting and financial evaluation of the merits and risks of an investment in the Shares and the consequences of this Agreement. The undersigned has considered the suitability of the Shares as an investment in light of its own circumstances and financial condition and the undersigned is able to bear the risks associated with an investment in the Shares and its authority to invest in the Shares.

(l) The undersigned is acquiring the Shares solely for the undersigned's own beneficial account, for investment purposes, and not with a view to, or for resale in connection with, any distribution of the Shares. The undersigned understands that the Shares have not been registered under the Securities Act or any state securities laws by reason of specific exemptions under the provisions thereof which depend in part upon the investment intent of the undersigned and of the other representations made by the undersigned in this Agreement. The undersigned understands that the Company is relying upon the representations and agreements contained in this Agreement (and any supplemental information provided by the undersigned to the Company or

the Portal) for the purpose of determining whether this transaction meets the requirements for such exemptions.

(m) The undersigned understands that the Shares are restricted from transfer for a period of time under applicable federal securities laws and that the Securities Act and the rules of the SEC provide in substance that the undersigned may dispose of the Shares only pursuant to an effective registration statement under the Securities Act, an exemption therefrom or as further described in Section 227.501 of Regulation Crowdfunding, after which certain state restrictions may apply. The undersigned understands that the Company has no obligation or intention to register any of the Shares, or to take action so as to permit sales pursuant to the Securities Act. Even if and when the Shares become freely transferable, a secondary market in the Shares may not develop. Consequently, the undersigned understands that the undersigned must bear the economic risks of the investment in the Shares for an indefinite period of time.

(n) The undersigned agrees that the undersigned will not sell, assign, pledge, give, transfer or otherwise dispose of the Shares or any interest therein or make any offer or attempt to do any of the foregoing, except pursuant to Section 227.501 of Regulation Crowdfunding.

(o) If the undersigned is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), the undersigned here represents and warrants to the Company that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Shares or any use of this Agreement, including (i) the legal requirements within its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained, and the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Shares. The undersigned's subscription and payment for and continued beneficial ownership of the Shares will not violate any applicable securities or other laws of the undersigned's jurisdiction.

# **6. HIGH RISK INVESTMENT. THE UNDERSIGNED UNDERSTANDS THAT AN INVESTMENT IN THE SHARES INVOLVES A HIGH DEGREE OF RISK.** The undersigned acknowledges that

(a) any projections, forecasts or estimates as may have been provided to the undersigned are purely speculative and cannot be relied upon to indicate actual results that may be obtained through this investment; any such projections, forecasts and estimates are based upon assumptions which are subject to change and which are beyond the control of the Company or its management;

(b) the tax effects which may be expected by this investment are not susceptible to absolute prediction, and new developments and rules of the Internal Revenue Service (the 'IRS'), audit adjustment, court decisions or legislative changes may have an adverse effect on one or more of the tax consequences of this investment; and

(c) the undersigned has been advised to consult with his own advisor regarding legal matters and tax consequences involving this investment.

7. **Company Representations.** The undersigned understands that upon issuance of to the undersigned of any Shares, the Company will be deemed to have made following representations and warranties to the undersigned as of the date of such issuance:

(a) *Company Power.* The Company has been duly formed as limited liability company under the laws of the State of Tennessee and, has all requisite legal and company power and authority to conduct its business as currently being conducted and to issue and sell the Shares to the undersigned pursuant to this Agreement.

(b) *Enforceability.* This Agreement, when executed and delivered by the Company, shall constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their respective terms except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors' rights generally, or (b) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

(c) *Valid Issuance.* The Shares, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement and the Form C, will be validly issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions on transfer arising under this Agreement, Articles of Formation and Operating Agreement of the Company, or under applicable state and federal securities laws and liens or encumbrances created by or imposed by a subscriber.

(d) *No Conflict.* The execution, delivery and performance of and compliance with this Agreement and the issuance of the Shares will not result in any violation of, or conflict with, or constitute a default under, the Company's Articles of Formation and Operating Agreement, as amended, and will not result in any violation of, or conflict with, or constitute a default under, any agreements to which the Company is a party or by which it is bound, or any statute, rule or regulation, or any decree of any court or governmental agency or body having jurisdiction over the Company, except for such violations, conflicts, or defaults which would not individually or in the aggregate, have a material adverse effect on the business, assets, properties, financial condition or results of operations of the Company.

8. **Indemnification.** The undersigned agrees to indemnify and hold harmless the Company and its directors, officers and agents (including legal counsel) from any and all damages, losses, costs and expenses (including reasonable attorneys' fees) that they, or any of them, may incur by reason of the undersigned's failure, or alleged failure, to fulfill any of the terms and conditions of this subscription or by reason of the undersigned's breach of any of the undersigned's representations and warranties contained herein.

9. **Market Stand-Off.** If so requested by the Company or any representative of the underwriters (the "*Managing Underwriter*") in connection with any underwritten or Regulation A+ offering of securities of the Company under the Securities Act, the undersigned (including any successor or assign) shall not sell or otherwise transfer any Shares or other securities of the Company during the 30-day period preceding and the 270-day period following the effective date of a registration or offering statement of the Company filed under the Securities Act for such public offering or Regulation A+ offering or underwriting (or such shorter period as may be requested by the Managing Underwriter and agreed to by the Company) (the "*Market Standoff Period*"). The Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period.

# 10. **General Provisions**

(a) Obligations Irrevocable. Following the Closing, the obligations of the undersigned shall be irrevocable.
(b) Legend. The certificates, book entry or other form of notation representing the Shares sold pursuant to this Subscription Agreement will be notated with a legend or designation, which communicates in some manner that the Shares were issued pursuant to Section 4(a)(6) of the Securities Act and may only be resold pursuant to Rule 501 of Regulation CF.
(c) Notices. All notices or other communications given or made hereunder shall be in writing and shall be mailed, by registered or certified mail, return receipt requested, postage prepaid or otherwise actually delivered, to the undersigned's address provided to the Portal or to the Company at the address set forth at the beginning of this Agreement, or such other place as the undersigned or the Company from time to time designate in writing.
(d) Governing Law. Notwithstanding the place where this Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of Tennessee without regard to the principles of conflicts of laws.
(e) Submission to Jurisdiction. With respect to any suit, action or proceeding relating to any offers, purchases or sales of the Shares by the undersigned ("Proceedings"), the undersigned irrevocably submits to the jurisdiction of the federal or state courts located at the location of the Company's principal place of business, which submission shall be exclusive unless none of such courts has lawful jurisdiction over such Proceedings.
(f) Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and may be amended only by a writing executed by all parties.
(g) Waiver, Amendment. Neither this Subscription Agreement nor any provisions hereof shall be modified, changed, discharged or terminated except by an instrument in writing, signed by the party against whom any waiver, change, discharge or termination is sought.

(h) *Waiver of Jury Trial.* THE UNDERSIGNED IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT.

(i) *Invalidity of Specific Provisions.* If any provision of this Agreement is held to be illegal, invalid, or unenforceable under the present or future laws effective during the term of this Agreement, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance from this Agreement.

(j) *Titles and Subtitles.* The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement.

(k) *Counterparts.* This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

(l) *Electronic Execution and Delivery.* A digital reproduction, portable document format (“.pdf”) or other reproduction of this Agreement may be executed by one or more parties hereto and delivered by such party by electronic signature (including signature via DocuSign or similar services), electronic mail or any similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen. Such execution and delivery shall be considered valid, binding and effective for all purposes.

(m) *Binding Effect.* The provisions of this Subscription Agreement shall be binding upon and accrue to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns.

(n) *Survival.* All representations, warranties and covenants contained in this Subscription Agreement shall survive (i) the acceptance of the subscription by the Company, (ii) changes in the transactions, documents and instruments described in the Form C which are not material or which are to the benefit of the undersigned and (iii) the death or disability of the undersigned.

(o) *Notification of Changes.* The undersigned hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the closing of the purchase of the Shares pursuant to this Subscription Agreement, which would cause any representation, warranty, or covenant of the undersigned contained in this Subscription Agreement to be false or incorrect.

[Signatures on following page.]

IN WITNESS WHEREOF, the parties have executed this agreement as of [EFFECTIVE DATE].

Number of Shares: [SHARES]

Aggregate Purchase Price: $[AMOUNT]

COMPANY:

Iron Lilly, LLC

Founder Signature

Name: [FOUNDER_NAME]

Title: [FOUNDER_TITLE]

Read and Approved (For IRA Use Only):

SUBSCRIBER:

By:

Investor Signature

Name: [INVESTOR NAME]

Title: [INVESTOR TITLE]

The Subscriber is an “accredited investor” as that term is defined in Regulation D promulgated by the Securities and Exchange Commission under the Securities Act. The Subscriber is a resident of the state set forth herein.

Please indicate Yes or No by checking the appropriate box:

☐ Accredited

☑ Not Accredited

SIGNATURE PAGE

TO

SUBSCRIPTION AGREEMENT

**Attachment 4:** `document_4.pdf`

# **Iron Lilly I (THE "SPV"),**

a series of Wefunder SPV, LLC, a Delaware limited liability company (the "LLC")

# Subscription Agreement

**[INVESTMENT AMOUNT]**

**[INVESTMENT DATE]**

**Iron Lilly I** (the "SPV"), a series of Wefunder SPV, LLC (the "LLC"), is a special purpose vehicle that will invest all of its assets in securities issued by **Iron Lilly, LLC** (the "Company"). By making an investment in the SPV through the Wefunder website, I understand and agree to the representations set forth below.

I have reviewed the following information and documents in connection with this Subscription Agreement:

1. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that none of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC, nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
2. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
3. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "**LLC Agreement**"), which sets forth certain specific terms of the SPV;
4. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
5. The LLC Agreement, which sets forth other terms applicable to each SPV;
6. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
7. The Wefunder Investor Agreement; and
8. The Wefunder Terms of Service.

**By making an investment in the SPV through the Wefunder website, I agree to be bound by this Subscription Agreement and the terms of the other agreements listed above with respect to my investment in the SPV.**

# Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY
REPRESENTATIONS

A. This agreement ("Agreement") applies to each investment in a series ("SPV") of Wefunder SPV, LLC (the "LLC"). Each series is a separate pool of assets from every other series. Each SPV will invest all of its assets in securities issued by a single company ("Company") as set forth in the applicable series appendix ("Series Appendix") to the Wefunder SPV, LLC limited liability company agreement (LLC Agreement). The terms of the Company securities to be purchased by the SPV are summarized in an appendix ("Terms Appendix") attached to this Agreement.
B. Each SPV is formed by and operated by Wefunder Admin, LLC on behalf of the Company in whose securities that SPV invests.
C. Important information about the Company, about the related SPV, and more generally about investments through the Wefunder website, is available through the Wefunder website. The Investor should review that information, and all relevant Company Information (as defined below), carefully before making an investment in any SPV.
D. Each SPV will offer membership interests ("Interests") in that SPV pursuant to Regulation Crowdfunding under the U.S. Securities Act of 1933, as amended (the "Securities Act").
E. You hereby agree that each time you make an investment in any SPV, you will be deemed to have entered into this Agreement, and will be deemed to have made each representation and covenant contained in this Agreement.
F. Except as the context otherwise requires, any reference in this Subscription Agreement to:

1. a "SPV" shall mean "The LLC acting solely on behalf of and for the account of the SPV";
2. "Investor" and "you" shall mean a person (whether individually, jointly with another person, or through his or her individual retirement account) who has agreed to invest, or has invested, in any SPV; and
3. "Company Information" means:

a. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC (together, the "Wefunder entities," nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
b. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
c. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
d. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
e. The LLC Agreement, which sets forth other terms applicable to each SPV;
f. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
g. The Wefunder Investor Agreement; and
h. The Wefunder Terms of Service.

INVESTOR'S REPRESENTATIONS AND COVENANTS

# 1. Investor's Review of Information and Investment Decision

1.1. The Investor has carefully read and understands the Company Information. The Investor acknowledges that it has made an independent decision to invest indirectly in the Company through the SPV and that, in making its decision to invest in a SPV, the Investor has relied solely upon the Company Information, any other relevant information on the Wefunder website, and independent investigations made by the Investor. The Investor understands that no representations or warranties have been made to the Investor by the LLC, the relevant SPV, any administrator appointed from time to time with respect to the SPV (the "Administrator"), any lead investor appointed from time to time with respect to the SPV (the "Lead Investor"), or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them regarding the Company.

1.2. The Investor has been provided an opportunity to request additional information concerning the Company and the offering through the Ask A Question feature on wefunder.com.

1.3. The Investor understands and agrees that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC, any of their affiliates, nor any director, manager, officer, shareholder, member, employee or agent of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or any of their affiliates (each, a "Wefunder Party," and collectively, "Wefunder Parties") shall be liable in connection with any information or omission of information contained in materials prepared or supplied by the Company. Such materials may include, but are not limited to, information provided by the Company in the Form C related to the offering, information available through the Wefunder website, and materials distributed to the Investor by the SPV on behalf of a Company.

1.4. The Investor represents and agrees that no Wefunder Party has recommended or suggested any investment in a SPV, or any investment related to a Company, to the Investor.

1.5. Investor understands that no Wefunder Party is an adviser to Investor, and that Investor is not an advisory or other client of any Wefunder Party.

1.6. The Investor is not relying on any Wefunder Party or any other person or entity with respect to the legal, accounting, business, investment, pension, tax or other economic considerations involved in this investment other than the Investor's own advisers that are not affiliated with any of the foregoing persons.

1.7. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of the Investor's investment in the SPV and is able to bear such risks. The Investor has obtained, in the Investor's judgment, sufficient information to evaluate the merits and risks of such investment. The Investor has evaluated the risks of investing in the SPV, understands there are substantial risks of loss incidental to the purchase of an Interest and has determined that the Interest is a suitable investment for the Investor and consistent with the general investment objectives of the Investor.

# 2. Investor's Representations Related To Investment in a SPV.

2.1. The Investor is acquiring the Interest for its own account, for investment purposes only and not with an intent to resell or distribute the Interest (or any distributions received from the SPV in whole or in part), and the Investor agrees that it will not sell or otherwise transfer the Interest unless in compliance with Regulation Crowdfunding and other applicable securities laws, and with the terms and conditions of this Agreement.
2.2. The Investor's investment in the Interest is consistent with the investment purposes, objectives and cash flow requirements of the Investor and will not adversely affect the Investor's overall need for diversification and liquidity.
2.3. The Investor has all requisite power, authority and capacity to acquire and hold the Interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Investor in connection with the Investor's subscription for the Interest, including without limitation this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement or other undertaking to which the Investor is a party or by which the Investor may be bound. If the Investor is an entity, the person executing and delivering each of such instruments on behalf of the Investor has all requisite power, authority and capacity to execute and deliver such instruments, and, upon request by the SPV, will furnish to the SPV a true and correct copy of any instruments governing the Investor, including all amendments thereto. The signature on each of such instruments is genuine and each of such instruments constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms.
2.4. The Wefunder Parties are each hereby authorized and instructed to accept and execute any instructions in respect of the Interest given by the Investor in written or electronic form. The Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action take upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.
2.5. Pursuant to the requirements of Treas. Reg. § 301.6109-1(c), the Investor has provided, or agrees to provide upon the earlier of (i) two years of an acquisition of an Interest or (ii) twenty (20) days before any distribution is to be made from the SPV, his, her or its taxpayer identification number (e.g., social security number or employer identification number) under penalties of perjury and has or will attest that the Internal Revenue Service has not notified the Investor that he, she or it is subject to backup withholding.

# 3. The Manager Has The Right To Reject Any Subscription, In Whole Or In Part.

3.1. The Investor understands that the SPV will not register as an investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), nor will it make a public offering of its securities within the United States.
3.2. The Investor understands that the value of all investments in any SPV made through individual retirement accounts ("IRAs") must be less than \(25\%\) of the value of the SPV's assets.

3.3. If the Investor is investing in a SPV through an employee benefit plan of any kind, including an individual retirement account (the "Plan"), and an individual or entity (the "Fiduciary") has entered into this Agreement on behalf of the Plan, the Fiduciary hereby makes the following representations, warranties, and covenants:

i. The Fiduciary is a fiduciary of the Plan who is authorized to invest Plan assets or is acting at the direction of a Plan fiduciary authorized to invest Plan assets. The Fiduciary has determined that an investment in the Fund is consistent with the Fiduciary's responsibilities to the Plan under Employee Retirement Income Security Act of 1974, as amended ("ERISA") or other applicable law, and is qualified to make such investment decision. The Fiduciary is authorized to make all representations, covenants and agreements set forth in this Agreement about and on behalf of the Investor, and the Fiduciary hereby agrees that, except for the representations, covenants and agreements contained in this section 3.3, all representations, covenants and agreements contained in this Agreement are made on behalf of the Investor who is investing through the Plan.

ii. The execution and delivery of this Subscription Agreement, and the investment contemplated hereby has been duly authorized by all appropriate and necessary parties pursuant to the provisions of the instrument or instruments governing the Plan and any related trust; and (B) will not violate, and is not otherwise inconsistent with, the terms of such instrument or instruments.

iii. The Fiduciary acknowledges that the assets of the Fund will be invested in accordance with the Company Information related to that Fund.

iv. The Plan's purchase and holding of an Interest will not constitute a non-exempt transaction prohibited under ERISA, Section 4975 of the Internal Revenue Code (the "Code"), or any similar laws or other federal, state, local, foreign or other laws or regulations applicable to the Plan and its investments. None of the Wefunder entities nor any of their affiliates, agents, or employees: (A) exercises any authority or control with respect to the management or disposition of assets of the Plan used to purchase an Interest; (B) renders investment advice for a fee (pursuant to an agreement or understanding that such advice will serve as a primary basis for investment decisions and that such advice will be based on the particular investment needs of the Plan), with respect to such assets of the Plan, or has the authority to do so, or (C) is an employer maintaining or contributing to, or any of whose employees are covered by, the Plan.

v. The Fiduciary understands and agrees to the fee arrangements described in the Company Information.

vi. The Fiduciary understands and agrees that, to prevent the assets of the SPV from being treated as "plan assets" for purposes of ERISA and Section 4975 of the Code, the Investor may be prohibited from purchasing or acquiring an Interest or may be required to redeem its Interest or a portion thereof.

3.4. The Investor acknowledges that the SPV and any Administrator, on the SPV's behalf, may not accept any investment from an Investor if the Investor cannot truthfully make the representations contained herein.

4. The Correctness And Accuracy Of All Information Provided By Investor To The LLC Or The SPV.

4.1. The Investor confirms that all information and documentation provided to the LLC, the SPV, and any Administrator, including, but not limited to, all information regarding the Investor's identity, taxpayer identification number, the source of the funds to be invested in the SPV, and the Investor's eligibility to invest in offerings under Regulation Crowdfunding, is true, correct and complete. Should any such information change or no longer be accurate, the Investor agrees and covenants that they will promptly notify the Wefunder Parties of such changes via the wefunder.com platform. The Investor agrees and covenants that he, she or it will maintain accurate and up-to-date contact information (including email and mailing address) on the wefunder.com platform and will promptly update such information in the event it changes or is no longer accurate.

4.2. The representations, warranties, agreements, undertakings and acknowledgments made by the Investor in this Subscription Agreement will be relied upon by the LLC, the SPV, and any Administrator in determining the Fund's compliance with federal and state securities laws, and shall survive the Investor's admission as a Member of the SPV.

4.3. All information that the Investor has provided to the LLC, the SPV, and any Administrator concerning the knowledge and experience of financial, tax and business matters of the Investor is correct and complete.

# 5. The Wefunder Parties' Right To Use Investor Information.

5.1. The Investor agrees and consents to the Wefunder Parties, their delegates and their duly authorized agents and any of their respective related, associated or affiliated companies obtaining, holding, using, disclosing and processing the Investor's data:

a. to facilitate the acceptance, management and administration of the Investor's subscription for an Interest on an on-going basis;
b. for any other specific purposes where the Investor has given specific consent to do so;
c. to carry out statistical analysis, market research, and tracking of investment performance over time;
d. to comply with legal or regulatory requirements applicable to the SPV and any Administrator or the Investor, including, but not limited to, in connection with anti-money laundering and similar laws;
e. for disclosure or transfer to third parties including the Investor's financial adviser (where appropriate), regulatory bodies, auditors, technology providers or to the SPV, any Administrator, any Lead Investor, and their delegates or their duly appointed agents and any of their respective related, associated or affiliated companies for the purposes specified above;
1. If the contents thereof are relevant to any issue in any action, suit or proceeding to which the LLC, the SPV, any Administrator, any Lead Investor, or their affiliates are a party or by which they are or may be bound;
g. for other legitimate business of the LLC, the SPV, any Administrator, or any Lead Investor.

5.2. The Investor acknowledges and agrees that it will provide additional information or take such other actions as may be necessary or advisable for the SPV or any Administrator (in the sole judgment of the SPV and/or any Administrator) to comply with any disclosure and compliance policies, related legal process or appropriate requests (whether formal or informal) or otherwise.
5.3. The Investor agrees and consents to disclosure by the LLC, the SPV and any of their agents, including any Administrator or any Lead Investor, to relevant third parties of information pertaining to the Investor in respect of disclosure and compliance policies or information requests related thereto. Without limiting the generality of the foregoing, the Investor agrees that information about the Investor may be provided to the Company in whose securities a SPV will or proposes to invest.
5.4. The Investor authorizes the LLC, the SPV, any Administrator, and each SPV service provider to disclose the Investor's nonpublic personal information to comply with regulatory and contractual requirements applicable to the SPV and its investments. Any such disclosure shall be permitted notwithstanding any privacy policy or similar restrictions regarding the disclosure of the Investor's nonpublic personal information.

# 6. Key Risk Factors

6.1. The Investor understands that investment in a SPV may involve a complete loss of the Investor's investment. In this regard, the Investor understands that such venture investments involve a high degree of risk, and that many or most venture company investments lose money. An Investor may ultimately receive cash, securities, or a combination of cash and securities (and in many cases nothing at all). If the Investor receives securities, the securities may not be publicly traded, and may not have any significant value.
6.2. The Investor understands and agrees that the Interests are subject to restrictions on transfer and cannot be redeemed. Instead, an Investor typically must hold his or her Interest in a SPV until the SPV has sold or otherwise disposed of its investments and the SPV distributes its investments to the investors in the SPV (a "Liquidation Event"). An Investor typically will not receive any distributions until such a Liquidation Event (and may not receive anything even upon a Liquidation Event), which may not occur for many years. The Investor must therefore bear the economic risk of holding their investment for an indefinite period of time.

6.3. The Investor understands and agrees that the Interests: (a) have not been registered under the Securities Act or any other law of the United States, or under the securities laws of any state or other jurisdiction, and therefore an Interest cannot be resold, pledged, assigned or otherwise disposed of unless it is so registered or an exemption from registration is available; and (b) can only be transferred as permitted under Regulation Crowdfunding and subject to the terms and conditions of this Agreement.

6.4. The Investor understands that no guarantees have been made to the Investor about future performance or financial results of the SPV, and an investment in the SPV may result in a gain or loss upon termination or liquidation of the SPV. It is possible that the investors in a SPV will have "phantom income," which could require them to pay taxes on their investment in a SPV even though the SPV does not distribute any income (or does not distribute sufficient income to pay the taxes).

6.5. The Investor understands and agrees that the SPV was formed by and is operated by Wefunder Admin, LLC on behalf of the Company. Investors will have no right to manage or influence the management of any SPV or of the LLC.

6.6. The Investor understands and agrees that the Company may appoint a Lead Investor and that, if appointed, pursuant to a power of attorney granted by the Investor in the Investor Agreement, the Lead Investor will exercise voting authority on behalf of the Investor with respect to the SPV securities the Investor owns.

6.7. The Investor represents that he or she has read and understands the risk factors contained in the Company Information. The Investor understands and agrees that each Company is solely responsible for providing risk factors, conflicts of interest, and other disclosures that investors should consider when investing in securities issued by that Company (including through a SPV), and that the Wefunder Parties have no ability to assure, and have not in any way assured, that any or all such risk factors, conflicts of interest and other disclosures have been presented fully and fairly, or have been presented at all.

6.8. The Investor understands that any privacy statements, reports or other communications regarding the SPV and the Investor's investment in the SPV (including annual and other updates, and tax documents) will be delivered via electronic means, including through wefunder.com. The Investor hereby consents to electronic delivery as described in the preceding sentence. In so consenting, the Investor acknowledges that email messages are not secure and may contain computer viruses or other defects, may not be accurately replicated on other systems, or may be intercepted, deleted or interfered with, with or without the knowledge of the sender or the intended recipient. The Investor also acknowledges that an email from the Wefunder Parties may be accessed by recipients other than the Investor and may be interfered with, may contain computer viruses or other defects and may not be successfully replicated on other systems. No Wefunder Party gives any warranties in relation to these matters.

6.9. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number under penalties of perjury, and attest that the Investor has not been notified by the Internal Revenue Service that he, she or it is subject to backup withholding, the SPV will be required to withhold from any proceeds otherwise payable to the Investor an amount necessary to satisfy the SPV's backup withholding obligations.

6.10. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number to the SPV, the SPV will withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations with respect to such amount. The SPV may also withhold any other amounts representing the SPV's reasonable estimation of penalties that may be charged by the Internal Revenue Service or any other taxing authority as a result of the Investor's failure to provide a valid taxpayer identification number.

# 7. Compliance With Anti-Money Laundering Laws.

7.1. The Investor represents and warrants that the Investor's investment was not directly or indirectly derived from illegal activities, including any activities that would violate U.S. Federal or State laws or any laws and regulations of other countries.

7.2. The Investor acknowledges that U.S. Federal law, regulations and Executive Orders administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") may prohibit the SPV, any Administrator, or any Lead Investor from, among other things, engaging in transactions with, and the provision of services to, persons on the list of Specially Designated Nationals and Blocked Persons and persons, foreign countries and territories that are the subject of U.S. sanctions administered by OFAC (collectively, the "OFAC Maintained Sanctions").

7.3. The Investor acknowledges that the SPV prohibits the investment of funds by any persons or entities that are (i) the subject of OFAC Maintained Sanctions, (ii) acting, directly or indirectly, in contravention of any applicable laws and regulations, including anti-money laundering regulations or conventions, or on behalf of persons or entities subject to an OFAC Maintained Sanction, (iii) acting, directly or indirectly, for a senior foreign political figure, any member of a senior foreign political figure's immediate family or any close associate of a senior foreign political figure, unless the SPV, after being specifically notified by the Investor in writing that it is such a person, conducts further due diligence, and determines that such investment shall be permitted, or (iv) acting, directly or indirectly, for a foreign shell bank (such persons or entities in (i) - (iv) are collectively referred to as "Prohibited Persons"). The Investor represents and warrants that it is not, and is not acting directly or indirectly on behalf of, a Prohibited Person.

7.4. To the extent the Investor has any beneficial owners, (i) it has carried out thorough due diligence to establish the identities of such beneficial owners, (ii) based on such due diligence, the Investor reasonably believes that no such beneficial owners are Prohibited Persons, (iii) it holds the evidence of such identities and status and will maintain all such evidence for at least five years from the date of the liquidation or termination of the SPV, and (iv) it will make available such information and any additional information requested by the SPV that is required under applicable regulations.

7.5. The Investor acknowledges and agrees that the SPV or any Administrator may "freeze the account" of the Investor, including, but not limited to, by suspending distributions from the SPV to which the Investor would otherwise be entitled, if necessary to comply with anti-money laundering statutes or regulations.

7.6. The Investor acknowledges and agrees that the SPV and/or any Administrator, in complying with anti-money laundering statutes, regulations and goals, may file voluntarily and/or as required by law suspicious activity reports ("SARs") or any other information with governmental and law enforcement agencies that identify transactions and activities that the SPV or any Administrator or their agents reasonably determine to be suspicious, or is otherwise required by law. The Investor acknowledges that the LLC, the SPV, and any Administrator are prohibited by law from disclosing to third parties, including the Investor, any filing or the substance of any SARs.

7.7. The Investor agrees that, upon the request of the LLC, the SPV, or any Administrator, it will provide such information as the LLC, the SPV, or any Administrator requires to satisfy applicable anti-money laundering laws and regulations, including, without limitation, background documentation about the Investor

# 8. Regulatory Provisions

8.1. The Investor understands that no federal or state agency has passed upon the Interests or made any findings or determination as to the fairness of this investment.

8.2. The Investor certifies that the information contained in the executed copy of Form W-9 submitted to the SPV (if any) and/or the taxpayer identification provided to the SPV is correct. The Investor agrees to provide such other documentation as the SPV determines may be necessary for the SPV to fulfill any tax reporting and/or withholding requirements.

8.3. The Investor understands and agrees that the Company may cause the SPV to make an election under Section 754 of the Internal Revenue Code (the "Code") or an election to be treated as an "electing investment partnership" for purposes of Section 743 of the Code. If the SPV elects to be treated as an electing investment partnership, the Investor shall cooperate with the SPV to maintain that status and shall not take any action that would be inconsistent with such election. Upon request, the Investor shall provide the SPV with any information necessary to allow the SPV to comply with (a) its obligations to make tax basis adjustments under Section 734 or 743 of the Code and (b) its obligations as an electing investment partnership.

8.4. The Investor consents to receive any Schedule K-1 (Partner's Share of Income, Deductions, Credits, etc.) from the SPV electronically via email, the Internet and/or another electronic reporting medium in lieu of paper copies. The Investor agrees that it will confirm this consent electronically at a future date in a manner set forth by the Company at such time and as required by the electronic receipt consent rules set forth by the Internal Revenue Service. The Investor may request a paper copy of the Investor's Schedule K-1 by contacting Wefunder Inc. at support@wefunder.com or such other email address as specified on the wefunder.com platform. Requesting a paper copy will not constitute a withdrawal of the Investor's consent to receive reports or other communications, including Schedule K-1, electronically. The Investor may withdraw its consent for electronic delivery or change its contact preferences for such delivery at any time by writing to support@wefunder.com or such other email address as specified on the wefunder.com platform. Such withdrawal will take effect promptly after receipt, unless otherwise agreed upon. Upon receipt of a withdrawal request, the SPV will confirm the withdrawal and the date on which it takes effect in writing (either electronically or on paper). A withdrawal of consent does not apply to a statement that was furnished electronically before the date on which the withdrawal of consent takes effect. The SPV will cease providing information electronically upon termination of the SPV. Notwithstanding the Investor's consent to receive materials electronically, the Investor still may be required to print and attach its Schedule K-1 to a federal, state or local tax return.

# 9. Miscellaneous Provisions

# 9.1. Indemnification

9.1.1. The Investor agrees to indemnify and hold harmless the LLC, the SPV, any Administrator, any Lead Investor, or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them, and each other person, if any, who controls, is controlled by, or is under common control with, any of the foregoing, within the meaning of Section 15 of the Securities Act, and their respective officers, directors, partners, members, shareholders, owners, employees and agents (collectively, the "Indemnified Parties") against any and all loss, liability, claim, damage and expense whatsoever (including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) arising out of or based upon (i) any false representation or warranty made by the Investor, or breach or failure by the Investor to comply with any covenant or agreement made by the Investor, in this Subscription Agreement or in any other document furnished by the Investor to any of the foregoing in connection with this transaction, or (ii) any action for securities law violations instituted by the Investor that is finally resolved by judgment against the Investor.

9.1.2. The Investor also agrees to indemnify each Indemnified Party for any and all costs, fees and expenses (including legal fees and disbursements) in connection with any damages resulting from the Investor's misrepresentation or misstatement contained herein, or the assertion of the Investor's lack of proper authorization from the beneficial owner to enter into this Subscription Agreement or perform the obligations hereof.

9.1.3. The Investor agrees to indemnify and hold harmless each Indemnified Party from and against any tax, interest, additions to tax, penalties, reasonable attorneys' and accountants' fees and disbursements, together with interest on the foregoing amounts at a rate determined by the SPV or any Administrator computed from the date of payment through the date of reimbursement, arising from the failure to withhold and pay over to the U.S. Internal Revenue Service or the taxing authority of any other jurisdiction any amounts computed, as required by applicable law, with respect to the income or gains allocated to or amounts distributed to the Investor with respect to its Interest during the period from the Investor's acquisition of the Interest until the Investor's transfer of the Interest in accordance with this Agreement, the LLC Agreement, and Regulation Crowdfunding.

9.1.4. If for any reason (other than the willful misfeasance or gross negligence of the entity that would otherwise be indemnified) the foregoing indemnification is unavailable to, or is insufficient to hold such Indemnified Party harmless, then the Investor shall contribute to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by the Investor on the one hand and the Indemnified Parties on the other but also the relative fault of the Investor and the Indemnified Parties, as well as any relevant equitable considerations.

9.1.5. The reimbursement, indemnity and contribution obligations of the Investor under this section shall be in addition to any liability that the Investor may otherwise have, and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Indemnified Parties.

9.2. Limitation of Liability. The LLC is a Delaware "multi-series" limited liability company. As a multi-series limited liability company, the LLC may operate multiple series with the benefit of segregation of assets and liabilities among each of its series pursuant to the Delaware Limited Liability Company Act, as amended (the "Delaware Act"). Accordingly, the Investor hereby agrees that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a series (including the SPV) shall be enforceable against the assets of that series only and not against the LLC generally or the assets of any other series. In addition, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the LLC generally, or any particular series, shall be enforceable against the assets of any other series.

9.3. **Counsel** The Investor understands that Morrison & Foerster LLP serves as legal counsel on certain matters to Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC and Wefunder Advisors, LLC and not to the SPV or any Investor by virtue of its investment in the SPV, and that no independent counsel has been retained to represent the SPV or Investors in the SPV. The Investor also understands that Morrison & Foerster LLP has not independently verified any factual assertions made in the Company Information or on the Wefunder website and is not responsible for the SPV's compliance with its investment program or applicable law.

9.4. **Power of Attorney** The Investor hereby appoints each of the Company and Wefunder Admin, LLC as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign, acknowledge, swear to and file:

9.4.1. a Certificate of Formation of the LLC and any amendments required under the Delaware Act
9.4.2. the LLC Agreement and any duly adopted amendments;
9.4.3. any and all instruments, certificates and other documents that may be deemed necessary or desirable to effect the winding-up and termination of the LLC or the SPV (including a Certificate of Cancellation of the Certificate of Formation); and
9.4.4. any business certificate, fictitious name certificate, related amendment or other instrument or document of any kind necessary or desirable to accomplish the LLC's or the SPV's business, purpose and objectives or required by any applicable U.S., state, local or other law.

This power of attorney is coupled with an interest, is irrevocable, and shall survive and shall not be affected by the subsequent death, disability, incompetency, termination, bankruptcy, insolvency or dissolution of the Investor; provided, however, that this power of attorney will terminate upon the substitution of another SPV member for all of the Investor's investment in the LLC or the SPV or upon the liquidation or termination of the LLC or the SPV. The Investor hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of the LLC, the SPV, and any Administrator taken in good faith under this power of attorney.

# 9.5. Confidentiality

9.5.1. The Investor agrees that the Company Information and all financial statements (if any), tax reports (if any), portfolio valuations (if any), private placement memoranda (if any), reviews or analyses of potential or actual investments (if any), reports or other materials prepared or produced by the SPV and/or any Administrator and all other documents and information concerning the affairs of the SPV and/or the Fund's investments, including, without limitation, information about the Company, and/or the persons directly or indirectly investing in the SPV (collectively, the "Confidential Information") that the Investor may receive pursuant to or in accordance with the use of the Wefunder website, an investment in one or more SPVs, or otherwise as a result of its ownership of an Interest in the SPV, constitute proprietary and confidential information about the SPV, any Administrator, and/or any Lead Investor (the "Affected Parties").

9.5.2. The Investor acknowledges that the Affected Parties derive independent economic value from the Confidential Information not being generally known and that the Confidential Information is the subject of reasonable efforts to maintain its secrecy. The Investor further acknowledges that the Confidential Information is a trade secret, the disclosure of which is likely to cause substantial and irreparable competitive harm to the Affected Companies or their respective businesses. The Investor shall not reproduce any of the Confidential Information or portion thereof or make the contents thereof available to any third party other than a disclosure on a need-to-know basis to the Investor's legal, accounting or investment advisers, auditors and representatives (collectively, "Advisers"), except to the extent compelled to do so in accordance with applicable law (in which case the Investor shall promptly notify the SPV of the Investor's obligation to disclose any Confidential Information) or with respect to Confidential Information that otherwise becomes publicly available other than through breach of this provision by the Investor.

9.5.3. To the fullest extent permitted by law, the Investor agrees not to request disclosure or inspection of any such information after the Investor is notified (whether in response to the Investor's request for information or otherwise) that the SPV has determined not to disclose such information.

9.5.4. The Investor agrees that the LLC, the SPV, and the SPV service providers would be subject to potentially irreparable injury as a result of any breach by the Investor of the covenants and agreements set forth in this Item 9.5, and that monetary damages would not be sufficient to compensate or make whole the LLC, the SPV, and the SPV services providers for any such breach. Accordingly the Investor agrees that the LLC, the SPV, and the SPV service providers shall be entitled to equitable and injunctive relief, on an emergency, temporary, preliminary and/or permanent basis, to prevent any such breach or the continuation thereof.

9.6. Amendments. Neither this Subscription Agreement nor any term hereof may be supplemented, changed, waived, discharged or terminated except with the written consent of the Investor and the Company on behalf of the relevant SPV. For the sake of clarity, the restriction on the Company in the preceding sentence applies solely to the form of this Subscription Agreement applicable to SPVs that have had a closing, and does not prevent the Company from changing the form and content of this Subscription Agreement for use in offerings of SPVs that have not had a closing.

9.7. Assignability and Transferability. This Subscription Agreement is not transferable or assignable by the Investor without the prior written consent of the Company on behalf of the SPV, and any transfer or assignment in violation of this provision shall be null and void. The Interests in the SPV being acquired by Investor herein may only be transferred by Investor in compliance with Regulation Crowdfunding and the terms and conditions of this Agreement. If Investor seeks to transfer the Interests, Investor shall first give written notice to the Company and Wefunder Admin, LLC, including the number of Interests that Investor desires to transfer, the proposed price, the name and contact information of the proposed buyer, and any other information that the Company or Wefunder Admin, LLC may reasonably request. To the extent possible, such notice shall be provided through the Wefunder.com website. Any transfer of Interests shall be subject to execution by Investor and the proposed transferee of appropriate documentation, as may be required by the Company or Wefunder Admin, LLC, in their discretion. Investor further acknowledges that pursuant to the LLC Agreement, Wefunder Admin, LLC (as Series Manager of the SPV), may impose additional restrictions on or prohibit the Transfer of Interests for any reason or no reason, in its sole discretion.

9.8. **Repurchase.** In the event that the SPV or any Administrator determines that it is likely that within twelve (12) months the securities of the SPV or the Company will be held of record by a number of persons that would require the SPV or the Company to register a class of its equity securities under the Securities Exchange Act of 1934, as amended ('Exchange Act'), as required by Section 12(g) or 15(d) thereof, the SPV shall have the option to repurchase the Interests from each Investor to the extent necessary to avoid the requirement to register a class of its securities under the Exchange Act. Such repurchase of Interests shall be for the greater of (i) the purchase price of the Interests, or (ii) the fair market value of the Interests, as determined by an independent appraiser of securities chosen by the Administrator. Any such repurchase may only occur with the consent of Wefunder Admin, LLC, as Series Manager of the SPV.

9.9. **Governing Law.** Consent to Jurisdiction. Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed under the laws of the State of Delaware. Any action or proceeding brought by the SPV or any SPV service provider against one or more investors in the SPV relating in any way to this Subscription Agreement or the LLC Agreement may, and any action or proceeding brought by any other party against the SPV or any SPV service provider relating in any way to this Subscription Agreement or the Company Information shall, be brought and enforced in the state courts of the State of Delaware located in Wilmington or (to the extent subject matter jurisdiction exists therefore) in the courts of the United States located in the District of Delaware; and the Investor and the SPV irrevocably submit to the jurisdiction of both such state and federal courts in respect of any such action or proceeding. The Investor and the SPV irrevocably waive, to the fullest extent permitted by law, any objection that they may now or hereafter have to laying the venue of any such action or proceeding in the courts of the State of Delaware located in Wilmington or in the courts of the United States located in the District of Delaware and any claim that any such action or proceeding brought in any such court has been brought in an inconvenient forum.

9.10. **Severability.** If any provision of this Subscription Agreement is invalid or unenforceable under any applicable law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such applicable law. Any provision hereof that may be held invalid or unenforceable under any applicable law shall not affect the validity or enforceability of any other provisions hereof, and to this extent the provisions hereof shall be severable.

9.11. **Headings.** The headings in this Subscription Agreement are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.

9.12. **General.** This Subscription Agreement shall be binding upon the Investor and the legal representatives, successors and assigns of the Investor, shall survive the admission of the Investor as a member of a SPV, and shall, if the Investor consists of more than one person, be the joint and several obligation of all such persons.

*[Remainder of page intentionally left blank. Signature page follows.]*

The undersigned have executed this instrument as of the date first above written.

SPV

Iron Lilly I, as series of Wefunder SPV, LLC
By: Wefunder Admin, LLC, its Manager

By: Founder Signature

Date:

Name: Nicholas Tommarello

Title: Chief Executive Officer

Investor

[INVESTOR NAME]

By: Investor Signature

Date:

CONTACT INFORMATION:

Name: [INVESTOR NAME]

Mailing Address:

City:

Country:

E-mail:

# TERMS APPENDIX FOR THE PURCHASE OF Iron Lilly,
LLC SECURITIES BY Iron Lilly I, A SERIES OF
WEFUNDER SPV, LLC, A DELAWARE LIMITED
LIABILITY COMPANY

**Type of Security:** Priced Round

**Terms** $100 per share and a $15M pre-money valuation

To view a copy of the contract, please see **Appendix B, Investor Contracts** of
the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-
TYPE%3DC%2FA+or+FORM-
TYPE%3DC%29+and+CIK%3D0001967080&first=2016

**Attachment 5:** `document_5.pdf`

# Subscription Agreement

[INVESTMENT AMOUNT]

[INVESTMENT DATE]

Iron Lilly I EB (the "SPV"), a series of Wefunder SPV, LLC (the "LLC"), is a special purpose vehicle that will invest all of its assets in securities issued by Iron Lilly, LLC (the "Company"). By making an investment in the SPV through the Wefunder website, I understand and agree to the representations set forth below.

I have reviewed the following information and documents in connection with this Subscription Agreement:

1. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that none of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC, nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
2. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
3. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
4. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
5. The LLC Agreement, which sets forth other terms applicable to each SPV;
6. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
7. The Wefunder Investor Agreement; and
8. The Wefunder Terms of Service.

By making an investment in the SPV through the Wefunder website, I agree to be bound by this Subscription Agreement and the terms of the other agreements listed above with respect to my investment in the SPV.

# Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY
REPRESENTATIONS

A. This agreement ("Agreement") applies to each investment in a series ("SPV") of Wefunder SPV, LLC (the "LLC"). Each series is a separate pool of assets from every other series. Each SPV will invest all of its assets in securities issued by a single company ("Company") as set forth in the applicable series appendix ("Series Appendix") to the Wefunder SPV, LLC limited liability company agreement (LLC Agreement). The terms of the Company securities to be purchased by the SPV are summarized in an appendix ("Terms Appendix") attached to this Agreement.
B. Each SPV is formed by and operated by Wefunder Admin, LLC on behalf of the Company in whose securities that SPV invests.
C. Important information about the Company, about the related SPV, and more generally about investments through the Wefunder website, is available through the Wefunder website. The Investor should review that information, and all relevant Company Information (as defined below), carefully before making an investment in any SPV.
D. Each SPV will offer membership interests ("Interests") in that SPV pursuant to Regulation Crowdfunding under the U.S. Securities Act of 1933, as amended (the "Securities Act").
E. You hereby agree that each time you make an investment in any SPV, you will be deemed to have entered into this Agreement, and will be deemed to have made each representation and covenant contained in this Agreement.
F. Except as the context otherwise requires, any reference in this Subscription Agreement to:

1. a "SPV" shall mean "The LLC acting solely on behalf of and for the account of the SPV";
2. "Investor" and "you" shall mean a person (whether individually, jointly with another person, or through his or her individual retirement account) who has agreed to invest, or has invested, in any SPV; and
3. "Company Information" means:

a. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC (together, the "Wefunder entities," nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
b. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
c. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
d. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
e. The LLC Agreement, which sets forth other terms applicable to each SPV;
f. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
g. The Wefunder Investor Agreement; and
h. The Wefunder Terms of Service.

INVESTOR'S REPRESENTATIONS AND COVENANTS

# 1. Investor's Review of Information and Investment Decision

1.1. The Investor has carefully read and understands the Company Information. The Investor acknowledges that it has made an independent decision to invest indirectly in the Company through the SPV and that, in making its decision to invest in a SPV, the Investor has relied solely upon the Company Information, any other relevant information on the Wefunder website, and independent investigations made by the Investor. The Investor understands that no representations or warranties have been made to the Investor by the LLC, the relevant SPV, any administrator appointed from time to time with respect to the SPV (the "Administrator"), any lead investor appointed from time to time with respect to the SPV (the "Lead Investor"), or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them regarding the Company.

1.2. The Investor has been provided an opportunity to request additional information concerning the Company and the offering through the Ask A Question feature on wefunder.com.

1.3. The Investor understands and agrees that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC, any of their affiliates, nor any director, manager, officer, shareholder, member, employee or agent of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or any of their affiliates (each, a "Wefunder Party," and collectively, "Wefunder Parties") shall be liable in connection with any information or omission of information contained in materials prepared or supplied by the Company. Such materials may include, but are not limited to, information provided by the Company in the Form C related to the offering, information available through the Wefunder website, and materials distributed to the Investor by the SPV on behalf of a Company.

1.4. The Investor represents and agrees that no Wefunder Party has recommended or suggested any investment in a SPV, or any investment related to a Company, to the Investor.

1.5. Investor understands that no Wefunder Party is an adviser to Investor, and that Investor is not an advisory or other client of any Wefunder Party.

1.6. The Investor is not relying on any Wefunder Party or any other person or entity with respect to the legal, accounting, business, investment, pension, tax or other economic considerations involved in this investment other than the Investor's own advisers that are not affiliated with any of the foregoing persons.

1.7. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of the Investor's investment in the SPV and is able to bear such risks. The Investor has obtained, in the Investor's judgment, sufficient information to evaluate the merits and risks of such investment. The Investor has evaluated the risks of investing in the SPV, understands there are substantial risks of loss incidental to the purchase of an Interest and has determined that the Interest is a suitable investment for the Investor and consistent with the general investment objectives of the Investor.

# 2. Investor's Representations Related To Investment in a SPV.

2.1. The Investor is acquiring the Interest for its own account, for investment purposes only and not with an intent to resell or distribute the Interest (or any distributions received from the SPV in whole or in part), and the Investor agrees that it will not sell or otherwise transfer the Interest unless in compliance with Regulation Crowdfunding and other applicable securities laws, and with the terms and conditions of this Agreement.
2.2. The Investor's investment in the Interest is consistent with the investment purposes, objectives and cash flow requirements of the Investor and will not adversely affect the Investor's overall need for diversification and liquidity.
2.3. The Investor has all requisite power, authority and capacity to acquire and hold the Interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Investor in connection with the Investor's subscription for the Interest, including without limitation this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement or other undertaking to which the Investor is a party or by which the Investor may be bound. If the Investor is an entity, the person executing and delivering each of such instruments on behalf of the Investor has all requisite power, authority and capacity to execute and deliver such instruments, and, upon request by the SPV, will furnish to the SPV a true and correct copy of any instruments governing the Investor, including all amendments thereto. The signature on each of such instruments is genuine and each of such instruments constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms.
2.4. The Wefunder Parties are each hereby authorized and instructed to accept and execute any instructions in respect of the Interest given by the Investor in written or electronic form. The Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action take upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.
2.5. Pursuant to the requirements of Treas. Reg. § 301.6109-1(c), the Investor has provided, or agrees to provide upon the earlier of (i) two years of an acquisition of an Interest or (ii) twenty (20) days before any distribution is to be made from the SPV, his, her or its taxpayer identification number (e.g., social security number or employer identification number) under penalties of perjury and has or will attest that the Internal Revenue Service has not notified the Investor that he, she or it is subject to backup withholding.

# 3. The Manager Has The Right To Reject Any Subscription, In Whole Or In Part.

3.1. The Investor understands that the SPV will not register as an investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), nor will it make a public offering of its securities within the United States.
3.2. The Investor understands that the value of all investments in any SPV made through individual retirement accounts ("IRAs") must be less than \(25\%\) of the value of the SPV's assets.

3.3. If the Investor is investing in a SPV through an employee benefit plan of any kind, including an individual retirement account (the "Plan"), and an individual or entity (the "Fiduciary") has entered into this Agreement on behalf of the Plan, the Fiduciary hereby makes the following representations, warranties, and covenants:

i. The Fiduciary is a fiduciary of the Plan who is authorized to invest Plan assets or is acting at the direction of a Plan fiduciary authorized to invest Plan assets. The Fiduciary has determined that an investment in the Fund is consistent with the Fiduciary's responsibilities to the Plan under Employee Retirement Income Security Act of 1974, as amended ("ERISA") or other applicable law, and is qualified to make such investment decision. The Fiduciary is authorized to make all representations, covenants and agreements set forth in this Agreement about and on behalf of the Investor, and the Fiduciary hereby agrees that, except for the representations, covenants and agreements contained in this section 3.3, all representations, covenants and agreements contained in this Agreement are made on behalf of the Investor who is investing through the Plan.

ii. The execution and delivery of this Subscription Agreement, and the investment contemplated hereby has been duly authorized by all appropriate and necessary parties pursuant to the provisions of the instrument or instruments governing the Plan and any related trust; and (B) will not violate, and is not otherwise inconsistent with, the terms of such instrument or instruments.

iii. The Fiduciary acknowledges that the assets of the Fund will be invested in accordance with the Company Information related to that Fund.

iv. The Plan's purchase and holding of an Interest will not constitute a non-exempt transaction prohibited under ERISA, Section 4975 of the Internal Revenue Code (the "Code"), or any similar laws or other federal, state, local, foreign or other laws or regulations applicable to the Plan and its investments. None of the Wefunder entities nor any of their affiliates, agents, or employees: (A) exercises any authority or control with respect to the management or disposition of assets of the Plan used to purchase an Interest; (B) renders investment advice for a fee (pursuant to an agreement or understanding that such advice will serve as a primary basis for investment decisions and that such advice will be based on the particular investment needs of the Plan), with respect to such assets of the Plan, or has the authority to do so, or (C) is an employer maintaining or contributing to, or any of whose employees are covered by, the Plan.

v. The Fiduciary understands and agrees to the fee arrangements described in the Company Information.

vi. The Fiduciary understands and agrees that, to prevent the assets of the SPV from being treated as "plan assets" for purposes of ERISA and Section 4975 of the Code, the Investor may be prohibited from purchasing or acquiring an Interest or may be required to redeem its Interest or a portion thereof.

3.4. The Investor acknowledges that the SPV and any Administrator, on the SPV's behalf, may not accept any investment from an Investor if the Investor cannot truthfully make the representations contained herein.

4. The Correctness And Accuracy Of All Information Provided By Investor To The LLC Or The SPV.

4.1. The Investor confirms that all information and documentation provided to the LLC, the SPV, and any Administrator, including, but not limited to, all information regarding the Investor's identity, taxpayer identification number, the source of the funds to be invested in the SPV, and the Investor's eligibility to invest in offerings under Regulation Crowdfunding, is true, correct and complete. Should any such information change or no longer be accurate, the Investor agrees and covenants that they will promptly notify the Wefunder Parties of such changes via the wefunder.com platform. The Investor agrees and covenants that he, she or it will maintain accurate and up-to-date contact information (including email and mailing address) on the wefunder.com platform and will promptly update such information in the event it changes or is no longer accurate.

4.2. The representations, warranties, agreements, undertakings and acknowledgments made by the Investor in this Subscription Agreement will be relied upon by the LLC, the SPV, and any Administrator in determining the Fund's compliance with federal and state securities laws, and shall survive the Investor's admission as a Member of the SPV.

4.3. All information that the Investor has provided to the LLC, the SPV, and any Administrator concerning the knowledge and experience of financial, tax and business matters of the Investor is correct and complete.

# 5. The Wefunder Parties' Right To Use Investor Information.

5.1. The Investor agrees and consents to the Wefunder Parties, their delegates and their duly authorized agents and any of their respective related, associated or affiliated companies obtaining, holding, using, disclosing and processing the Investor's data:

a. to facilitate the acceptance, management and administration of the Investor's subscription for an Interest on an on-going basis;
b. for any other specific purposes where the Investor has given specific consent to do so;
c. to carry out statistical analysis, market research, and tracking of investment performance over time;
d. to comply with legal or regulatory requirements applicable to the SPV and any Administrator or the Investor, including, but not limited to, in connection with anti-money laundering and similar laws;
e. for disclosure or transfer to third parties including the Investor's financial adviser (where appropriate), regulatory bodies, auditors, technology providers or to the SPV, any Administrator, any Lead Investor, and their delegates or their duly appointed agents and any of their respective related, associated or affiliated companies for the purposes specified above;
1. If the contents thereof are relevant to any issue in any action, suit or proceeding to which the LLC, the SPV, any Administrator, any Lead Investor, or their affiliates are a party or by which they are or may be bound;
g. for other legitimate business of the LLC, the SPV, any Administrator, or any Lead Investor.

5.2. The Investor acknowledges and agrees that it will provide additional information or take such other actions as may be necessary or advisable for the SPV or any Administrator (in the sole judgment of the SPV and/or any Administrator) to comply with any disclosure and compliance policies, related legal process or appropriate requests (whether formal or informal) or otherwise.
5.3. The Investor agrees and consents to disclosure by the LLC, the SPV and any of their agents, including any Administrator or any Lead Investor, to relevant third parties of information pertaining to the Investor in respect of disclosure and compliance policies or information requests related thereto. Without limiting the generality of the foregoing, the Investor agrees that information about the Investor may be provided to the Company in whose securities a SPV will or proposes to invest.
5.4. The Investor authorizes the LLC, the SPV, any Administrator, and each SPV service provider to disclose the Investor's nonpublic personal information to comply with regulatory and contractual requirements applicable to the SPV and its investments. Any such disclosure shall be permitted notwithstanding any privacy policy or similar restrictions regarding the disclosure of the Investor's nonpublic personal information.

# 6. Key Risk Factors

6.1. The Investor understands that investment in a SPV may involve a complete loss of the Investor's investment. In this regard, the Investor understands that such venture investments involve a high degree of risk, and that many or most venture company investments lose money. An Investor may ultimately receive cash, securities, or a combination of cash and securities (and in many cases nothing at all). If the Investor receives securities, the securities may not be publicly traded, and may not have any significant value.
6.2. The Investor understands and agrees that the Interests are subject to restrictions on transfer and cannot be redeemed. Instead, an Investor typically must hold his or her Interest in a SPV until the SPV has sold or otherwise disposed of its investments and the SPV distributes its investments to the investors in the SPV (a "Liquidation Event"). An Investor typically will not receive any distributions until such a Liquidation Event (and may not receive anything even upon a Liquidation Event), which may not occur for many years. The Investor must therefore bear the economic risk of holding their investment for an indefinite period of time.

6.3. The Investor understands and agrees that the Interests: (a) have not been registered under the Securities Act or any other law of the United States, or under the securities laws of any state or other jurisdiction, and therefore an Interest cannot be resold, pledged, assigned or otherwise disposed of unless it is so registered or an exemption from registration is available; and (b) can only be transferred as permitted under Regulation Crowdfunding and subject to the terms and conditions of this Agreement.

6.4. The Investor understands that no guarantees have been made to the Investor about future performance or financial results of the SPV, and an investment in the SPV may result in a gain or loss upon termination or liquidation of the SPV. It is possible that the investors in a SPV will have "phantom income," which could require them to pay taxes on their investment in a SPV even though the SPV does not distribute any income (or does not distribute sufficient income to pay the taxes).

6.5. The Investor understands and agrees that the SPV was formed by and is operated by Wefunder Admin, LLC on behalf of the Company. Investors will have no right to manage or influence the management of any SPV or of the LLC.

6.6. The Investor understands and agrees that the Company may appoint a Lead Investor and that, if appointed, pursuant to a power of attorney granted by the Investor in the Investor Agreement, the Lead Investor will exercise voting authority on behalf of the Investor with respect to the SPV securities the Investor owns.

6.7. The Investor represents that he or she has read and understands the risk factors contained in the Company Information. The Investor understands and agrees that each Company is solely responsible for providing risk factors, conflicts of interest, and other disclosures that investors should consider when investing in securities issued by that Company (including through a SPV), and that the Wefunder Parties have no ability to assure, and have not in any way assured, that any or all such risk factors, conflicts of interest and other disclosures have been presented fully and fairly, or have been presented at all.

6.8. The Investor understands that any privacy statements, reports or other communications regarding the SPV and the Investor's investment in the SPV (including annual and other updates, and tax documents) will be delivered via electronic means, including through wefunder.com. The Investor hereby consents to electronic delivery as described in the preceding sentence. In so consenting, the Investor acknowledges that email messages are not secure and may contain computer viruses or other defects, may not be accurately replicated on other systems, or may be intercepted, deleted or interfered with, with or without the knowledge of the sender or the intended recipient. The Investor also acknowledges that an email from the Wefunder Parties may be accessed by recipients other than the Investor and may be interfered with, may contain computer viruses or other defects and may not be successfully replicated on other systems. No Wefunder Party gives any warranties in relation to these matters.

6.9. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number under penalties of perjury, and attest that the Investor has not been notified by the Internal Revenue Service that he, she or it is subject to backup withholding, the SPV will be required to withhold from any proceeds otherwise payable to the Investor an amount necessary to satisfy the SPV's backup withholding obligations.

6.10. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number to the SPV, the SPV will withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations with respect to such amount. The SPV may also withhold any other amounts representing the SPV's reasonable estimation of penalties that may be charged by the Internal Revenue Service or any other taxing authority as a result of the Investor's failure to provide a valid taxpayer identification number.

# 7. Compliance With Anti-Money Laundering Laws.

7.1. The Investor represents and warrants that the Investor's investment was not directly or indirectly derived from illegal activities, including any activities that would violate U.S. Federal or State laws or any laws and regulations of other countries.

7.2. The Investor acknowledges that U.S. Federal law, regulations and Executive Orders administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") may prohibit the SPV, any Administrator, or any Lead Investor from, among other things, engaging in transactions with, and the provision of services to, persons on the list of Specially Designated Nationals and Blocked Persons and persons, foreign countries and territories that are the subject of U.S. sanctions administered by OFAC (collectively, the "OFAC Maintained Sanctions").

7.3. The Investor acknowledges that the SPV prohibits the investment of funds by any persons or entities that are (i) the subject of OFAC Maintained Sanctions, (ii) acting, directly or indirectly, in contravention of any applicable laws and regulations, including anti-money laundering regulations or conventions, or on behalf of persons or entities subject to an OFAC Maintained Sanction, (iii) acting, directly or indirectly, for a senior foreign political figure, any member of a senior foreign political figure's immediate family or any close associate of a senior foreign political figure, unless the SPV, after being specifically notified by the Investor in writing that it is such a person, conducts further due diligence, and determines that such investment shall be permitted, or (iv) acting, directly or indirectly, for a foreign shell bank (such persons or entities in (i) - (iv) are collectively referred to as "Prohibited Persons"). The Investor represents and warrants that it is not, and is not acting directly or indirectly on behalf of, a Prohibited Person.

7.4. To the extent the Investor has any beneficial owners, (i) it has carried out thorough due diligence to establish the identities of such beneficial owners, (ii) based on such due diligence, the Investor reasonably believes that no such beneficial owners are Prohibited Persons, (iii) it holds the evidence of such identities and status and will maintain all such evidence for at least five years from the date of the liquidation or termination of the SPV, and (iv) it will make available such information and any additional information requested by the SPV that is required under applicable regulations.

7.5. The Investor acknowledges and agrees that the SPV or any Administrator may "freeze the account" of the Investor, including, but not limited to, by suspending distributions from the SPV to which the Investor would otherwise be entitled, if necessary to comply with anti-money laundering statutes or regulations.

7.6. The Investor acknowledges and agrees that the SPV and/or any Administrator, in complying with anti-money laundering statutes, regulations and goals, may file voluntarily and/or as required by law suspicious activity reports ("SARs") or any other information with governmental and law enforcement agencies that identify transactions and activities that the SPV or any Administrator or their agents reasonably determine to be suspicious, or is otherwise required by law. The Investor acknowledges that the LLC, the SPV, and any Administrator are prohibited by law from disclosing to third parties, including the Investor, any filing or the substance of any SARs.

7.7. The Investor agrees that, upon the request of the LLC, the SPV, or any Administrator, it will provide such information as the LLC, the SPV, or any Administrator requires to satisfy applicable anti-money laundering laws and regulations, including, without limitation, background documentation about the Investor

# 8. Regulatory Provisions

8.1. The Investor understands that no federal or state agency has passed upon the Interests or made any findings or determination as to the fairness of this investment.

8.2. The Investor certifies that the information contained in the executed copy of Form W-9 submitted to the SPV (if any) and/or the taxpayer identification provided to the SPV is correct. The Investor agrees to provide such other documentation as the SPV determines may be necessary for the SPV to fulfill any tax reporting and/or withholding requirements.

8.3. The Investor understands and agrees that the Company may cause the SPV to make an election under Section 754 of the Internal Revenue Code (the "Code") or an election to be treated as an "electing investment partnership" for purposes of Section 743 of the Code. If the SPV elects to be treated as an electing investment partnership, the Investor shall cooperate with the SPV to maintain that status and shall not take any action that would be inconsistent with such election. Upon request, the Investor shall provide the SPV with any information necessary to allow the SPV to comply with (a) its obligations to make tax basis adjustments under Section 734 or 743 of the Code and (b) its obligations as an electing investment partnership.

8.4. The Investor consents to receive any Schedule K-1 (Partner's Share of Income, Deductions, Credits, etc.) from the SPV electronically via email, the Internet and/or another electronic reporting medium in lieu of paper copies. The Investor agrees that it will confirm this consent electronically at a future date in a manner set forth by the Company at such time and as required by the electronic receipt consent rules set forth by the Internal Revenue Service. The Investor may request a paper copy of the Investor's Schedule K-1 by contacting Wefunder Inc. at support@wefunder.com or such other email address as specified on the wefunder.com platform. Requesting a paper copy will not constitute a withdrawal of the Investor's consent to receive reports or other communications, including Schedule K-1, electronically. The Investor may withdraw its consent for electronic delivery or change its contact preferences for such delivery at any time by writing to support@wefunder.com or such other email address as specified on the wefunder.com platform. Such withdrawal will take effect promptly after receipt, unless otherwise agreed upon. Upon receipt of a withdrawal request, the SPV will confirm the withdrawal and the date on which it takes effect in writing (either electronically or on paper). A withdrawal of consent does not apply to a statement that was furnished electronically before the date on which the withdrawal of consent takes effect. The SPV will cease providing information electronically upon termination of the SPV. Notwithstanding the Investor's consent to receive materials electronically, the Investor still may be required to print and attach its Schedule K-1 to a federal, state or local tax return.

# 9. Miscellaneous Provisions

# 9.1. Indemnification

9.1.1. The Investor agrees to indemnify and hold harmless the LLC, the SPV, any Administrator, any Lead Investor, or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them, and each other person, if any, who controls, is controlled by, or is under common control with, any of the foregoing, within the meaning of Section 15 of the Securities Act, and their respective officers, directors, partners, members, shareholders, owners, employees and agents (collectively, the "Indemnified Parties") against any and all loss, liability, claim, damage and expense whatsoever (including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) arising out of or based upon (i) any false representation or warranty made by the Investor, or breach or failure by the Investor to comply with any covenant or agreement made by the Investor, in this Subscription Agreement or in any other document furnished by the Investor to any of the foregoing in connection with this transaction, or (ii) any action for securities law violations instituted by the Investor that is finally resolved by judgment against the Investor.

9.1.2. The Investor also agrees to indemnify each Indemnified Party for any and all costs, fees and expenses (including legal fees and disbursements) in connection with any damages resulting from the Investor's misrepresentation or misstatement contained herein, or the assertion of the Investor's lack of proper authorization from the beneficial owner to enter into this Subscription Agreement or perform the obligations hereof.

9.1.3. The Investor agrees to indemnify and hold harmless each Indemnified Party from and against any tax, interest, additions to tax, penalties, reasonable attorneys' and accountants' fees and disbursements, together with interest on the foregoing amounts at a rate determined by the SPV or any Administrator computed from the date of payment through the date of reimbursement, arising from the failure to withhold and pay over to the U.S. Internal Revenue Service or the taxing authority of any other jurisdiction any amounts computed, as required by applicable law, with respect to the income or gains allocated to or amounts distributed to the Investor with respect to its Interest during the period from the Investor's acquisition of the Interest until the Investor's transfer of the Interest in accordance with this Agreement, the LLC Agreement, and Regulation Crowdfunding.

9.1.4. If for any reason (other than the willful misfeasance or gross negligence of the entity that would otherwise be indemnified) the foregoing indemnification is unavailable to, or is insufficient to hold such Indemnified Party harmless, then the Investor shall contribute to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by the Investor on the one hand and the Indemnified Parties on the other but also the relative fault of the Investor and the Indemnified Parties, as well as any relevant equitable considerations.

9.1.5. The reimbursement, indemnity and contribution obligations of the Investor under this section shall be in addition to any liability that the Investor may otherwise have, and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Indemnified Parties.

9.2. Limitation of Liability. The LLC is a Delaware "multi-series" limited liability company. As a multi-series limited liability company, the LLC may operate multiple series with the benefit of segregation of assets and liabilities among each of its series pursuant to the Delaware Limited Liability Company Act, as amended (the "Delaware Act"). Accordingly, the Investor hereby agrees that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a series (including the SPV) shall be enforceable against the assets of that series only and not against the LLC generally or the assets of any other series. In addition, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the LLC generally, or any particular series, shall be enforceable against the assets of any other series.

9.3. **Counsel** The Investor understands that Morrison & Foerster LLP serves as legal counsel on certain matters to Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC and Wefunder Advisors, LLC and not to the SPV or any Investor by virtue of its investment in the SPV, and that no independent counsel has been retained to represent the SPV or Investors in the SPV. The Investor also understands that Morrison & Foerster LLP has not independently verified any factual assertions made in the Company Information or on the Wefunder website and is not responsible for the SPV's compliance with its investment program or applicable law.

9.4. **Power of Attorney** The Investor hereby appoints each of the Company and Wefunder Admin, LLC as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign, acknowledge, swear to and file:

9.4.1. a Certificate of Formation of the LLC and any amendments required under the Delaware Act
9.4.2. the LLC Agreement and any duly adopted amendments;
9.4.3. any and all instruments, certificates and other documents that may be deemed necessary or desirable to effect the winding-up and termination of the LLC or the SPV (including a Certificate of Cancellation of the Certificate of Formation); and
9.4.4. any business certificate, fictitious name certificate, related amendment or other instrument or document of any kind necessary or desirable to accomplish the LLC's or the SPV's business, purpose and objectives or required by any applicable U.S., state, local or other law.

This power of attorney is coupled with an interest, is irrevocable, and shall survive and shall not be affected by the subsequent death, disability, incompetency, termination, bankruptcy, insolvency or dissolution of the Investor; provided, however, that this power of attorney will terminate upon the substitution of another SPV member for all of the Investor's investment in the LLC or the SPV or upon the liquidation or termination of the LLC or the SPV. The Investor hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of the LLC, the SPV, and any Administrator taken in good faith under this power of attorney.

# 9.5. Confidentiality

9.5.1. The Investor agrees that the Company Information and all financial statements (if any), tax reports (if any), portfolio valuations (if any), private placement memoranda (if any), reviews or analyses of potential or actual investments (if any), reports or other materials prepared or produced by the SPV and/or any Administrator and all other documents and information concerning the affairs of the SPV and/or the Fund's investments, including, without limitation, information about the Company, and/or the persons directly or indirectly investing in the SPV (collectively, the "Confidential Information") that the Investor may receive pursuant to or in accordance with the use of the Wefunder website, an investment in one or more SPVs, or otherwise as a result of its ownership of an Interest in the SPV, constitute proprietary and confidential information about the SPV, any Administrator, and/or any Lead Investor (the "Affected Parties").

9.5.2. The Investor acknowledges that the Affected Parties derive independent economic value from the Confidential Information not being generally known and that the Confidential Information is the subject of reasonable efforts to maintain its secrecy. The Investor further acknowledges that the Confidential Information is a trade secret, the disclosure of which is likely to cause substantial and irreparable competitive harm to the Affected Companies or their respective businesses. The Investor shall not reproduce any of the Confidential Information or portion thereof or make the contents thereof available to any third party other than a disclosure on a need-to-know basis to the Investor's legal, accounting or investment advisers, auditors and representatives (collectively, "Advisers"), except to the extent compelled to do so in accordance with applicable law (in which case the Investor shall promptly notify the SPV of the Investor's obligation to disclose any Confidential Information) or with respect to Confidential Information that otherwise becomes publicly available other than through breach of this provision by the Investor.

9.5.3. To the fullest extent permitted by law, the Investor agrees not to request disclosure or inspection of any such information after the Investor is notified (whether in response to the Investor's request for information or otherwise) that the SPV has determined not to disclose such information.

9.5.4. The Investor agrees that the LLC, the SPV, and the SPV service providers would be subject to potentially irreparable injury as a result of any breach by the Investor of the covenants and agreements set forth in this Item 9.5, and that monetary damages would not be sufficient to compensate or make whole the LLC, the SPV, and the SPV services providers for any such breach. Accordingly the Investor agrees that the LLC, the SPV, and the SPV service providers shall be entitled to equitable and injunctive relief, on an emergency, temporary, preliminary and/or permanent basis, to prevent any such breach or the continuation thereof.

9.6. Amendments. Neither this Subscription Agreement nor any term hereof may be supplemented, changed, waived, discharged or terminated except with the written consent of the Investor and the Company on behalf of the relevant SPV. For the sake of clarity, the restriction on the Company in the preceding sentence applies solely to the form of this Subscription Agreement applicable to SPVs that have had a closing, and does not prevent the Company from changing the form and content of this Subscription Agreement for use in offerings of SPVs that have not had a closing.

9.7. Assignability and Transferability. This Subscription Agreement is not transferable or assignable by the Investor without the prior written consent of the Company on behalf of the SPV, and any transfer or assignment in violation of this provision shall be null and void. The Interests in the SPV being acquired by Investor herein may only be transferred by Investor in compliance with Regulation Crowdfunding and the terms and conditions of this Agreement. If Investor seeks to transfer the Interests, Investor shall first give written notice to the Company and Wefunder Admin, LLC, including the number of Interests that Investor desires to transfer, the proposed price, the name and contact information of the proposed buyer, and any other information that the Company or Wefunder Admin, LLC may reasonably request. To the extent possible, such notice shall be provided through the Wefunder.com website. Any transfer of Interests shall be subject to execution by Investor and the proposed transferee of appropriate documentation, as may be required by the Company or Wefunder Admin, LLC, in their discretion. Investor further acknowledges that pursuant to the LLC Agreement, Wefunder Admin, LLC (as Series Manager of the SPV), may impose additional restrictions on or prohibit the Transfer of Interests for any reason or no reason, in its sole discretion.

9.8. **Repurchase.** In the event that the SPV or any Administrator determines that it is likely that within twelve (12) months the securities of the SPV or the Company will be held of record by a number of persons that would require the SPV or the Company to register a class of its equity securities under the Securities Exchange Act of 1934, as amended ('Exchange Act'), as required by Section 12(g) or 15(d) thereof, the SPV shall have the option to repurchase the Interests from each Investor to the extent necessary to avoid the requirement to register a class of its securities under the Exchange Act. Such repurchase of Interests shall be for the greater of (i) the purchase price of the Interests, or (ii) the fair market value of the Interests, as determined by an independent appraiser of securities chosen by the Administrator. Any such repurchase may only occur with the consent of Wefunder Admin, LLC, as Series Manager of the SPV.

9.9. **Governing Law.** Consent to Jurisdiction. Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed under the laws of the State of Delaware. Any action or proceeding brought by the SPV or any SPV service provider against one or more investors in the SPV relating in any way to this Subscription Agreement or the LLC Agreement may, and any action or proceeding brought by any other party against the SPV or any SPV service provider relating in any way to this Subscription Agreement or the Company Information shall, be brought and enforced in the state courts of the State of Delaware located in Wilmington or (to the extent subject matter jurisdiction exists therefore) in the courts of the United States located in the District of Delaware; and the Investor and the SPV irrevocably submit to the jurisdiction of both such state and federal courts in respect of any such action or proceeding. The Investor and the SPV irrevocably waive, to the fullest extent permitted by law, any objection that they may now or hereafter have to laying the venue of any such action or proceeding in the courts of the State of Delaware located in Wilmington or in the courts of the United States located in the District of Delaware and any claim that any such action or proceeding brought in any such court has been brought in an inconvenient forum.

9.10. **Severability.** If any provision of this Subscription Agreement is invalid or unenforceable under any applicable law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such applicable law. Any provision hereof that may be held invalid or unenforceable under any applicable law shall not affect the validity or enforceability of any other provisions hereof, and to this extent the provisions hereof shall be severable.

9.11. **Headings.** The headings in this Subscription Agreement are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.

9.12. **General.** This Subscription Agreement shall be binding upon the Investor and the legal representatives, successors and assigns of the Investor, shall survive the admission of the Investor as a member of a SPV, and shall, if the Investor consists of more than one person, be the joint and several obligation of all such persons.

*[Remainder of page intentionally left blank. Signature page follows.]*

The undersigned have executed this instrument as of the date first above written.

SPV

Iron Lilly I EB, as series of Wefunder SPV, LLC
By: Wefunder Admin, LLC, its Manager

By: Founder Signature

Date:

Name: Nicholas Tommarello

Title: Chief Executive Officer

Investor

[INVESTOR NAME]

By: Investor Signature

Date:

CONTACT INFORMATION:

Name: [INVESTOR NAME]

Mailing Address:

City:

Country:

E-mail:

# TERMS APPENDIX FOR THE PURCHASE OF Iron Lilly,
LLC SECURITIES BY Iron Lilly I EB, A SERIES OF
WEFUNDER SPV, LLC, A DELAWARE LIMITED
LIABILITY COMPANY

**Type of Security:** Priced Round

**Terms** $85 per share and a $12.8M pre-money valuation

To view a copy of the contract, please see **Appendix B, Investor Contracts** of
the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-
TYPE%3DC%2FA+or+FORM-
TYPE%3DC%29+and+CIK%3D0001967080&first=2016

**Attachment 6:** `document_6.pdf`

# IRON LILLY, LLC
FINANCIAL STATEMENTS
PERIOD ENDED DECEMBER 31, 2022
WITH
INDEPENDENT AUDITOR'S REPORT

**SILAS SIMMONS** LLP
CERTIFIED PUBLIC ACCOUNTANTS *and* ADVISORS

# IRON LILLY, LLC

# TABLE OF CONTENTS

Page
INDEPENDENT AUDITOR'S REPORT --- 1-2

# FINANCIAL STATEMENTS:

Balance Sheet --- 3

Statement of Income --- 4

Statement of Member's Equity (Deficit) --- 5

Statement of Cash Flows --- 6

NOTES TO FINANCIAL STATEMENTS --- 7

SILAS SIMMONS LLP

CERTIFIED PUBLIC ACCOUNTANTS and ADVISORS

209 N. Commerce St.

Natchez, MS 39120

P. O. Box 1027

Natchez, MS 39121

Tel: 601-442-7411

Fax: 601-442-8551

2120 Forsythe Ave.

Monroe, LA 71201

P. O. Box 4550

Monroe, LA 71211

Tel: 318-323-4481

Fax: 318-323-2188

www.silassimmons.com

# INDEPENDENT AUDITOR'S REPORT

To the Member

Iron Lilly, LLC

Hartsville, Tennessee

# Opinion

We have audited the accompanying financial statements of Iron Lilly, LLC (a State of Tennessee Limited Liability Company), which comprise the balance sheet as of December 31, 2022, and the related statement of income, member's equity, and cash flows for the period then ended, and the related notes to the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Iron Lilly, LLC as of December 31, 2022, and the results of its operations and its cash flows for the period then ended in accordance with accounting principles generally accepted in the United States of America.

# Basis for Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Iron Lilly, LLC and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

# Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events considered in the aggregate, that raise substantial doubt about Iron Lilly, LLC's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

Members: American Institute of CPAs, Mississippi Society of CPAs, Louisiana Society of CPAs

2

## Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve, collusion, forgery, intentional omissions, misrepresentation, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, we:

- Exercise professional judgment and maintain professional skepticism throughout the audit.
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Iron Lilly, LLC's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Iron Lilly, LLC's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

Natchez, Mississippi
February 1, 2023

3

# IRON LILLY, LLC

# BALANCE SHEET

DECEMBER 31, 2022

ASSET

| Current asset |  |
| --- | --- |
| Cash | $17,653 |
| Total asset | $17,653 |

LIABILITIES AND MEMBER'S EQUITY

| Liabilities |  |
| --- | --- |
| Liabilities | $ - |
| Member's Equity | $17,653 |
| Total liabilities and member's equity | $17,653 |

The accompanying notes are an integral part of these financial statements.

4

# IRON LILLY, LLC

# STATEMENT OF INCOME

FOR THE PERIOD FROM AUGUST 29, 2022 (DATE OF INCEPTION)
THROUGH DECEMBER 31, 2022

| Revenue | $ - |
| --- | --- |
| Expenses: |  |
| Business consulting | $2,000 |
| Website | 4,210 |
| Legal and professional | 458 |
| Music production | 3,813 |
| Supplies | 39 |
| Travel | 380 |
| Miscellaneous | 1,447 |
| Total | $12,347 |
| Net loss | $(12,347) |

The accompanying notes are an integral part of these financial statements.

5

# IRON LILLY, LLC

# STATEMENT OF MEMBER'S EQUITY (DEFICIT)

# FOR THE PERIOD FROM AUGUST 29, 2022 (DATE OF INCEPTION)

# THROUGH DECEMBER 31, 2022

| Balance - August 29, 2022 | $ - |
| --- | --- |
| Contribution | 30,000 |
| Net loss | (12,347) |
| Balance - December 31, 2022 | $17,653 |

The accompanying notes are an integral part of these financial statements.

6

# IRON LILLY, LLC

# STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM AUGUST 29, 2022 (DATE OF INCEPTION)
THROUGH DECEMBER 31, 2022

Cash flows from operating activities:

Net loss $(12,347)

Net cash used in operating activities $(12,347)

Cash flows from financing activity:

Contribution $30,000

Net cash from financing activity $30,000

Net Increase in cash $17,653

Cash - beginning of period -

Cash - end of period $17,653

The accompanying notes are an integral part of these financial statements.

# NOTES TO FINANCIAL STATEMENTS

7

# IRON LILLY, LLC

# NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2022

# NOTE 1 - GENERAL

Iron Lilly, LLC (the Company) was formed on August 29, 2022, in the state of Tennessee.

The Company is planning to engage in the business of movie production.

As of this reporting date, no other business activities have begun, except for organizational and start-up costs.

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

# Basis of Accounting

The financial statements of the Company have been prepared on the accrual basis of accounting and conform to accounting principles generally accepted in the United States of America (GAAP).

# Use of Estimates

The preparation of the financial statements is in conformity with accounting principles generally accepted in the United States of America and requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosed in the accompanying notes. Actual results could differ from those estimates.

# Cash and Cash Equivalents

Cash and cash equivalents include all monies in banks and highly liquid investments with maturity dates of less than three months. The carrying value of cash and cash equivalents approximates fair value because of the short maturities of those financial instruments.

# Significant Risks and Uncertainties

The Company is subject to customary risks and uncertainties including, but not limited to, the need for protection of proprietary technology, dependence on key personnel, costs of services provided by third parties, the need to obtain additional financing, and limited operating history. The Company has not yet produced significant revenues.

# Income Taxes

The Company is not a taxpaying entity for federal or state income tax purposes, and thus no income tax expense has been recorded in the statements. As such, net income or loss is not subject to federal or state entity income taxes, but rather is included in the personal return of the individual member.

# NOTE 3 - SUBSEQUENT EVENTS

Management of the Company has evaluated material events or transactions subsequent to December 31, 2022 through February 1, 2023, the date these financial statements were available to be issued, and determined that there was no material subsequent event that would be reported in the financial statements.

**Attachment 7:** `document_7.pdf`

Contact

www.linkedin.com/in/yochanan-marcellino-28a57a16 (LinkedIn)

Top Skills

Music Production

Social Media

Artist Management

# Yochanan Marcellino

Founder, President, CEO, City of Peace Media, Inc.

Nashville Metropolitan Area

Experience

City of Peace Media, Inc.

Founder/President

January 1999 - Present (24 years 2 months)

Greater Nashville Area, TN

Education

Los Angeles Valley College

Business

Page 1 of 1

**Attachment 8:** `document_8.pdf`

# IRON Lilly

A movie that will uplift an industry & change lives!

![img-0.jpeg](img-0.jpeg)

![img-1.jpeg](img-1.jpeg)

www.ironlilly.com
AIME EXPO BOOTH #1004

![img-2.jpeg](img-2.jpeg)

![img-3.jpeg](img-3.jpeg)

A movie came out, also and her family threw away old husband, J.E. Egan, who is a partner who needs the most of the time to be a good friend of the family. The first time was a good friend of the family, but the second time was a good friend of the family.

It's not the incident (See in 1997, during the young author's young friend's life), but it's a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of a bit of

The following notes that the most important words are to be, including the first word of the first word of the second word of the third word of the fourth word of the fifth word of the sixth word of the seventh word of the eight word of the nine word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten word of the ten

Lilly Farrows defined an industry & it's time to do it again!

![img-4.jpeg](img-4.jpeg)

Learn about the movie @ www.ironlilly.com

![img-5.jpeg](img-5.jpeg)

![img-6.jpeg](img-6.jpeg)

This project is led by a new one, the only
Joan makespiles, and the people who like their

![img-7.jpeg](img-7.jpeg)

![img-8.jpeg](img-8.jpeg)

![img-9.jpeg](img-9.jpeg)

![img-10.jpeg](img-10.jpeg)

www.ironlilly.com

Meet the team and learn about more opportunities!

![img-11.jpeg](img-11.jpeg)

WE HAVE A FAVOR TO ASK OF YOU

Help us tell the true story
We've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story, and we've got the story

We're under
we're under
we're under

![img-12.jpeg](img-12.jpeg)

![img-13.jpeg](img-13.jpeg)

Contact
www.ironlilly.com to get
a copy of our business plan

**Attachment 9:** `document_9.pdf`

# INVESTOR PERKS

Townhouse Stay in Aspen, Colorado

$10,000.00 Investment

You will be entered into a
drawing to win a week
stay at this luxury town-
house at the base of
Aspen Mountain

6 nights - $12K value

You automatically get 4
pair of glasses / Iron Lilly
branded eyewear
$800 value

Dates TBD

Travel expenses are the
responsibility of the winner

![img-0.jpeg](img-0.jpeg)

# Townhouse Stay in Aspen, Colorado

![img-1.jpeg](img-1.jpeg)

![img-2.jpeg](img-2.jpeg)

![img-3.jpeg](img-3.jpeg)

![img-4.jpeg](img-4.jpeg)

# $5,000.00 Investment

You will be entered into a
drawing to win a stay at
this outdoor paradise for
the nature loving
enthusiast. Honey
Brake Lodge is located
in Central Louisiana.

![img-5.jpeg](img-5.jpeg)

Lodging / meals included

Outdoor activities avail-
able - fishing, sporting
clays, farm tour, ATV
off roading

2 nights 3 days -
$5,500K value

You automatically get 2
pair of glasses / Iron
Lilly branded eyewear
$400 value

Dates TBD

Travel expenses are the
responsibility of the winner

www.honeybrake.com

# INVESTOR PERKS

Vacation at Honey Brake, Louisiana.

# Vacation at Honey Brake, Louisiana.

![img-6.jpeg](img-6.jpeg)

![img-7.jpeg](img-7.jpeg)

![img-8.jpeg](img-8.jpeg)

![img-9.jpeg](img-9.jpeg)

# INVESTOR PERKS

![img-10.jpeg](img-10.jpeg)

![img-11.jpeg](img-11.jpeg)

![img-12.jpeg](img-12.jpeg)

![img-13.jpeg](img-13.jpeg)

![img-14.jpeg](img-14.jpeg)

$1,000.00 Investment

**IRON** *Lilly* **POLARIZED**

Lenses Manufactured by Carl Zeiss Vision **ZEISS**

**Attachment 10:** `document_10.pdf`

## Can you vouch for John Doe?

John has applied to raise funding for Company Name on Wefunder and provided your name as a personal reference.

Quote goes here

Wefunder has raised hundreds of millions for startups that later went on to raise over $5 billion in follow-on funding from venture capitalists.

Can you vouch for John?

VOUCH FOR JOHN

LEARN MORE

### About Wefunder

We help anyone invest as little as $100 in the startups they believe in. We're also a Public Benefit Corporation with a mission to keep the American dream alive. We aim to help 20,000 founders get off the ground by 2029.

Unsubscribe | About | Education

Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Reg Crowdfunding offerings are made. Wefunder, Inc. operates sections of wefunder.com where some Reg A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.

Company Name is testing the waters to evaluate investor interest. No money or other consideration is being solicited; if sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and, then, only through Wefunder. Any indication of interest has no obligation or commitment of any kind.

**Attachment 11:** `document_11.pdf`

# OPERATING AGREEMENT

OF

IRON LILLY, LLC

# IRON LILLY, LLC

January ___, 2023

PURCHASERS OF CLASS A UNITS IN IRON LILLY, LLC (“CLASS A UNITS”) WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENTS FOR AN INDEFINITE PERIOD OF TIME. THE CLASS A UNITS HAVE NOT BEEN REGISTERED (i) UNDER ANY STATE SECURITIES LAW (THE “STATE ACT”), OR (ii) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “FEDERAL ACT”), AND NEITHER THE CLASS A UNITS NOR ANY PART THEREOF MAY BE SOLD, EXCHANGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF ARTICLE 11 OF THIS AGREEMENT, WHICH RESTRICT THE TRANSFER OF CLASS A UNITS, AND (1) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER EACH APPLICABLE STATE ACT OR IN A TRANSACTION WHICH IS EXEMPT FROM REGISTRATION UNDER SUCH STATE ACT OR FOR WHICH SUCH REGISTRATION OTHERWISE IS NOT REQUIRED, AND (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE FEDERAL ACT OR IN A TRANSACTION WHICH IS EXEMPT FROM REGISTRATION UNDER THE FEDERAL ACT OR FOR WHICH SUCH REGISTRATION OTHERWISE IS NOT REQUIRED.

# **TABLE OF CONTENTS**

|  | Page |
| --- | --- |
| ARTICLE 1. | DEFINITIONS ... 1 |
| Section 1.01 | Definitions...1 |
| (a) | 1933 Act...1 |
| (b) | 1934 Act...1 |
| (c) | Act...1 |
| (d) | Affiliate...1 |
| (e) | Agreement...1 |
| (f) | Available Cash Flow...1 |
| (g) | Capital Account...2 |
| (h) | Capital Contribution...2 |
| (i) | Certificate of Formation...2 |
| (j) | Class A Member...2 |
| (k) | Class B Member...2 |
| (l) | Closing...3 |
| (m) | Code...3 |
| (n) | Company...3 |
| (o) | Company Expenses...3 |
| (p) | Days...3 |
| (q) | Depreciation...3 |
| (r) | Determination Date...3 |
| (s) | Final Closing...3 |
| (t) | Financial Rights...3 |
| (u) | Financial Rights Owner...3 |
| (v) | Funding Agreement...3 |
| (w) | Governance Rights...4 |
| (x) | Gross Asset Value...4 |
| (y) | Indebtedness...4 |
| (z) | Indemnified Person...4 |
| (aa) | Initial Closing...4 |
| (bb) | Liability...5 |
| (cc) | Manager...5 |
| (dd) | Members...5 |
| (ee) | Membership Interest...5 |
| (ff) | Membership Percentage...5 |
| (gg) | Minimum Funding...5 |
| (hh) | Organizer...5 |
| (ii) | Party...5 |
| (jj) | Person...5 |
| (kk) | Personal Representative...5 |
| (ll) | Preemptive Rights...5 |
| (mm) | Picture...6 |

| (nn) | Proceeding | 6 |
| --- | --- | --- |
| (oo) | Profits and Losses | 6 |
| (pp) | Record Holder | 7 |
| (qq) | Regulations | 7 |
| (rr) | Subsequent Closings | 7 |
| (ss) | Successor | 7 |
| (tt) | Transfer | 7 |
| (uu) | Unit | 7 |
| ARTICLE 2. | ORGANIZATION | 7 |
| Section 2.01 | Formation | 7 |
| Section 2.02 | Adoption of Agreement | 7 |
| Section 2.03 | Name | 8 |
| Section 2.04 | Company Property | 8 |
| Section 2.05 | Copyright to Picture | 8 |
| ARTICLE 3. | PURPOSE AND POWERS | 8 |
| Section 3.01 | Purpose | 8 |
| Section 3.02 | Powers | 8 |
| Section 3.03 | Nature of Members' Interests | 8 |
| ARTICLE 4. | INITIAL MEMBER, CLOSING, CAPITAL CONTRIBUTIONS, MEMBERSHIP INTERESTS, COMPANY INDEBTEDNESS AND CAPITAL ACCOUNTS | 9 |
| Section 4.01 | Initial Member | 9 |
| Section 4.02 | Minimum Funding and Failure to Obtain Minimum Funding | 9 |
| Section 4.03 | Initial Closing, Initial Capital Contributions and Class A Units | 9 |
| Section 4.04 | Subsequent Closings | 10 |
| Section 4.05 | Company Indebtedness | 10 |
| Section 4.06 | Withdrawal or Reduction of Members' Capital Contributions | 10 |
| Section 4.07 | Interest and Preferential Rights | 10 |
| Section 4.08 | Membership Interests, Exhibit A Amendments | 10 |
| Section 4.09 | Capital Accounts | 10 |
| (a) | Creation of Capital Accounts | 10 |
| (b) | Transfers of Capital Accounts | 11 |
| (c) | Compliance with Regulations | 11 |
| Section 4.10 | Rights of Members to Capital | 11 |
| Section 4.11 | Grant of Units | 12 |
| ARTICLE 5. | EXPENSES AND FEES | 12 |
| Section 5.01 | Company Expenses | 12 |
| ARTICLE 6. | DISTRIBUTIONS; ALLOCATION OF PROFITS AND LOSSES; LIQUIDATION PROCEEDS | 12 |
| Section 6.01 | Distributions; Tax Distributions | 12 |
| Section 6.02 | Profit Allocations | 13 |
| Section 6.03 | Loss Allocations | 13 |
| Section 6.04 | Curative Allocations | 13 |
| Section 6.05 | Other Allocation Rules | 13 |
| (a) | Adjustments for Timing Differences | 13 |
| (b) | Allocation of Certain Recapture Items | 13 |
| (c) | Transfer of Financial Rights | 13 |
| (d) | Section 704(c) Allocations | 13 |

ii

| (e) | Ordinary Income and Capital Gain Items | 14 |
| --- | --- | --- |
| (f) | Certain Available Cash Flow Distributions | 14 |
| (g) | Allocations to Have Substantial Economic Effect | 14 |
| (h) | Allocations Determinative for Tax Purposes | 14 |
| Section 6.06 | Distributions Upon Liquidation | 14 |
| Section 6.07 | Withholding | 15 |
| Section 6.08 | Consequences of Distributions | 15 |
| ARTICLE 7. | RIGHTS AND DUTIES OF MANAGER | 16 |
| Section 7.01 | Management | 16 |
| Section 7.02 | Election and Number | 16 |
| Section 7.03 | Removal or Resignation of Manager | 16 |
| Section 7.04 | Filling of Vacancies | 16 |
| Section 7.05 | Initial Manager | 16 |
| Section 7.06 | Powers of Manager | 16 |
| Section 7.07 | Authority of Agents | 18 |
| Section 7.08 | Right to Rely on Manager | 18 |
| Section 7.09 | Limitation on Liability | 18 |
| Section 7.10 | Compensation and Reimbursement | 19 |
| Section 7.11 | Contracts With Affiliates | 19 |
| ARTICLE 8. | MEETINGS OF MEMBERS | 19 |
| Section 8.01 | Regular Meetings | 19 |
| Section 8.02 | Special Meetings | 19 |
| Section 8.03 | Action by Class B Member Without a Meeting | 19 |
| Section 8.04 | Place of Meetings; Telephone Meetings | 20 |
| Section 8.05 | Notice of Meetings | 20 |
| Section 8.06 | Waiver of Notice | 20 |
| Section 8.07 | Record Date | 20 |
| Section 8.08 | Voting List | 21 |
| Section 8.09 | Quorum | 21 |
| Section 8.10 | Required Vote; Manner of Acting | 21 |
| Section 8.11 | Proxies | 21 |
| (a) | Vote of Class A Members | 21 |
| ARTICLE 9. | INDEMNIFICATION | 21 |
| Section 9.01 | Standard for Indemnification | 21 |
| Section 9.02 | Effect of Provisions | 22 |
| Section 9.03 | Repeal or Modification | 22 |
| Section 9.04 | Effect of Invalidity of Article | 22 |
| ARTICLE 10. | FISCAL MATTERS | 22 |
| Section 10.01 | Books and Records | 22 |
| Section 10.02 | Fiscal Year | 22 |
| Section 10.03 | Tax Status | 23 |
| Section 10.04 | Reports to Members | 23 |
| Section 10.05 | Accounting Decisions | 23 |
| Section 10.06 | Bank Accounts | 23 |
| Section 10.07 | Partnership Representative | 23 |
| ARTICLE 11. | TRANSFER OF CLASS A UNITS; TERMINATION OF CLASS A UNITS; INVESTOR REPRESENTATIONS | 24 |
| Section 11.01 | Transfer of Class A Units | 24 |

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| Section 11.02 | Withdrawal and Expulsion of Class A Members | 25 |
| --- | --- | --- |
| Section 11.03 | Subsequent Holders of Class A Units | 25 |
| Section 11.04 | Representations by the Class A Members | 25 |
| Section 11.05 | No Governmental Review | 26 |
| Section 11.06 | Transfer or Resale | 26 |
| Section 11.07 | Risk of Investment | 27 |
| Section 11.08 | Term | 27 |
| Section 11.09 | Finders/Brokers | 27 |
| Section 11.10 | Binding Agreement | 27 |
| Section 11.11 | Confidentiality | 27 |
| ARTICLE 12. | DISSOLUTION, WINDING UP, AND TERMINATION OF THE COMPANY'S EXISTENCE | 28 |
| Section 12.01 | Term | 28 |
| Section 12.02 | Winding Up Affairs on Dissolution | 28 |
| Section 12.03 | Waiver of Right to Partition and Decree of Dissolution | 28 |
| ARTICLE 13. | GENERAL PROVISIONS | 28 |
| Section 13.01 | Notices | 28 |
| Section 13.02 | Integration | 29 |
| Section 13.03 | Governing Law | 29 |
| Section 13.04 | Severability | 29 |
| Section 13.05 | Terminology | 29 |
| Section 13.06 | Amendment | 29 |
| Section 13.07 | Execution of Additional Instruments | 29 |
| Section 13.08 | Waivers | 29 |
| Section 13.09 | Rights and Remedies Cumulative | 29 |
| Section 13.10 | Heirs, Successors and Assigns | 29 |
| Section 13.11 | Creditors | 30 |
| Section 13.12 | Counterparts | 30 |
| Section 13.13 | Potential Conflicts | 30 |
| ARTICLE 14. |  |  |

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# OPERATING AGREEMENT
OF
IRON LILLY, LLC

THIS OPERATING AGREEMENT (this “Agreement”) is made and entered into by and among the persons executing this Agreement (collectively referred to as the “Members” and individually as a “Member”).

# WITNESSETH:

WHEREAS, the parties hereto desire to operate in the form of a limited liability company managed by its Manager under and pursuant to the Act (as defined below), to conduct certain business as a limited liability company, and to set forth their mutual rights and obligations in this Agreement.

NOW, THEREFORE, in consideration of the mutual promises, covenants and undertakings hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Members hereby agree as follows:

# ARTICLE 1. DEFINITIONS

Section 1.01 Definitions. As used herein the following terms have the indicated meanings:

(a) “1933 Act” means the United States Securities Act of 1933 codified at 15 U.S.C. § 77a, et seq.

(b) “1934 Act” means the United States Securities Exchange Act of 1934 codified at 15 U.S.C. § 78a, et seq.

(c) “Act” means the Tennessee Revised Limited Liability Company Act, as amended from time to time, and any corresponding provisions of any successor legislation.

(d) “Affiliate” means, with respect to any Person (as defined herein), (1) any Person directly or indirectly controlling, controlled by or under common control with such Person, (2) any Person owning or controlling ten percent (10%) or more of the outstanding voting securities of such Person, (3) any officer, director, general partner, or manager of such Person, or (4) any Person who is an officer, director, general partner, manager, trustee or holder of ten percent (10%) or more of the voting securities of any Person described in clauses (1) through (3) of this sentence.

(e) “Agreement” means this Operating Agreement, as amended from time to time.

(f) “Available Cash Flow” means all cash, revenues and funds (including borrowings) received by the Company for each fiscal year, less the sum of the following to the extent paid or set aside by the Company: (1) all required debt service of principal and interest payments on indebtedness of the Company and other sums paid to lenders; (2) all cash expenditures incurred incident to the normal operation of the Company’s business; and (3) such

financial reserves as the Manager deems reasonably necessary to the proper operation of the Company's business. Available Cash Flow shall also consider that funds shall be made available before distribution for the following:

(1) Collection account management costs and fees;
(2) Residuals and applicable payments owed to or on behalf of unions and guilds, including without limitation SAG-AFTRA;
(3) To the extent applicable, any bonus payments to third parties, to the extent paid by Company (e.g. box office bonuses);
(4) To the extent not deducted off the top prior to receipt of Company Gross Revenue, and to the extent applicable, all distribution fees and distribution costs (including, without limitation, ad overhead, if charged), all sales fees if applicable, and any fees and/or costs to third parties who represent the Picture (e.g. producer representatives, sales advisors, etc.);
(5) All marketing and distribution costs paid by Company (including, without limitation, residuals, union obligations, delivery items, costs for producers, director, cast and others related to the Picture to attend premieres, film festivals and film markets);
(6) All payments to agents, accountants, attorneys and other parties who represent the Picture;
(7) Any payments paid as advances, royalties or otherwise in connection with the exploitation of ancillary and subsidiary rights; and,
(8) All costs of auditing any distributor of the Picture of any ancillary or subsidiary rights (including without limitation, legal and auditor fees and costs).

(g) "Capital Account" means an account established pursuant to Section 2.09 hereof.

(h) "Capital Contribution" means, with respect to any Member, the amount of money and the initial Gross Asset Value of any property (other than money) contributed to the Company with respect to the Membership Interest held by such Member pursuant to the terms of this Agreement.

(i) "Certificate of Formation" means the Articles of Formation of the Company filed with the Secretary of State of the State of Tennessee, as amended from time to time.

(j) "Class A Member" means a Member owning Class A Units.
(k) "Class B Member" means a Member owning Class B Units.

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(l) “Closing” means any closing of Units in the Company in return for Capital Contributions, and shall mean any Initial Closing, Subsequent Closing of Final Closing of Class A Units, as well as any closing of any other class of Units.

(m) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any corresponding provisions of any successor legislation.

(n) “Company” means IRON LILLY, LLC, a Tennessee limited liability company.

(o) “Company Expenses” shall have the meaning assigned to such term in Section 3.01.

(p) “Days” means all calendar days, whether or not such days are legal holidays under the laws of the United States or any state.

(q) “Depreciation” means, for each fiscal year or other period, an amount equal to the depreciation, amortization or other cost recovery deduction allowable with respect to an asset for such year or other period; provided, however, that if the Gross Asset Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such year or other period, Depreciation shall be an amount which bears the same ratio to such beginning Gross Asset Value as the federal income tax deduction, amortization or other cost recovery deduction for such year or other period bears to such beginning adjusted tax basis; and provided, further, that if the federal income tax depreciation, amortization or other cost recovery deduction for such year is zero, Depreciation shall be determined with reference to such beginning Gross Asset Value using any reasonable method selected by the Manager.

(r) “Determination Date” means the date which is the last day of the month preceding the month that gave rise to the sale of the Class A Units under Article 11.

(s) “Final Closing” shall have the meaning assigned to such term in Section 2.04.

(t) “Financial Rights” means a Member’s rights as a member of the Company to share in (1) Profits and Losses to the extent provided in this Agreement, and (2) distributions to the extent provided in this Agreement.

(u) “Financial Rights Owner” means the owner of Financial Rights who is not a Member.

(v) “Funding Agreement” means each agreement entered into between a potential Class A Member and the Company pursuant to which such potential Class A Member agrees to acquire, and the Company agrees to issue, a specified number of Class A Units in exchange for Capital Contributions equal to One Hundred Dollars ($100) per Class A Unit, all on such terms and conditions as are provided in this Agreement and as may be provided in such Funding Agreement. A Funding Agreement shall become effective as of the date it has been executed and delivered by the potential Class A Member thereto and accepted by the Manager on behalf of the Company.

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(w) “Governance Rights” means a right to vote on one or more matters as specified under this Agreement, the Certificate of Formation and the Act, and all of a Member’s rights as a member of the Company other than Financial Rights.

(x) “Gross Asset Value” means, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except as follows:

(1) The initial Gross Asset Value of any asset contributed by a Member to the Company shall be the gross fair market value of such asset, as determined by the contributing Member and the Company;

(2) The Gross Asset Values of all Company assets shall be adjusted to equal their respective gross fair market values, as determined by the Manager, as of the following times: (i) the acquisition of an additional interest in the Company by any new or existing Member in exchange for more than a de minimis contribution of money or other property; (ii) the distribution by the Company of more than a de minimis amount of money or other property to a Member as consideration for an interest in the Company; and (iii) the liquidation of the Company within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g); provided, however, that the adjustments pursuant to clauses (i) and (ii) shall be made only if the Manager reasonably determines that such adjustments are necessary or appropriate to reflect the relative economic interests of the Members in the Company;

(3) The Gross Asset Value of any Company asset distributed to any Member shall be the gross fair market value of such asset on the date of distribution; and

(4) The Gross Asset Values of Company assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such assets pursuant to Code Sections 734(b) or 743(b), but only to the extent that such adjustments are taken into account in determining Capital Accounts pursuant to Regulations Section 1.704-1(b)(2)(iv)(m) and Section 6.05(g) hereof; provided, however, that Gross Asset Values shall not be adjusted pursuant to this subparagraph (4) to the extent the Manager determines that an adjustment pursuant to subparagraph (2) above is necessary or appropriate in connection with a transaction that would otherwise result in an adjustment pursuant to this subparagraph (4).

If the Gross Asset Value of an asset has been determined or adjusted hereunder, such Gross Asset Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset for purposes of computing Profits and Losses.

(y) “Indebtedness” shall have the meaning assigned to such term in Section 2.05.

(z) “Indemnified Person” means any person who is or was a Party to, or is threatened to be made a Party to, any Proceeding, whether or not by or in the right of the Company, by reason of the fact that such Person is or was an officer, manager, employee or agent of the Company, or is or was serving at the request of the Company.

(aa) “Initial Closing” shall have the meaning assigned to such term in Section 2.03.

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(bb) “Liability” means, for purposes of Article 9, the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), or expenses (including attorneys’ fees) actually and reasonably incurred with respect to a Proceeding.

(cc) “Manager” means the Person elected or otherwise designated by the Class B Members to manage the Company pursuant to the Act. The initial Manager is YOCHANAN MARCELLINO.

(dd) “Members” means the Persons who are, from time to time, admitted as members of the Company pursuant to the Act and this Agreement and whose names are set forth on Exhibit A which is attached hereto and made part of this Agreement, as such, Exhibit A may be amended from time to time. The term Member shall include both Members owning Class A Units and Class B Units.

(ee) “Membership Interest” means a Member’s interest in the Company, which when expressed as a percentage of all Membership Interests in the Company shall be equal to such Member’s Membership Percentage. The Membership Interest shall consist of the Member’s (1) Financial Rights, (2) right to Transfer Financial Rights to the extent permitted under this Agreement, the Certificate of Formation and the Act, (3) Governance Rights, and (4) right to Transfer Governance Rights to the extent permitted under this Agreement, the Certificate of Formation and the Act.

(ff) “Membership Percentage” means the percentage interest of a Member as shown on Exhibit A, as amended from time to time as required by this Agreement, the Act, or the Code. In the event any portion of the Financial Rights are Transferred in accordance with the provisions of this Agreement, the transferee of such Financial Rights shall succeed to the Membership Percentage of his transferor to the extent it relates to the transferred interest.

(gg) “Minimum Funding” shall have the meaning assigned to such term in Section 2.02.

(hh) “Organizer” means Erich N. Nichols, the individual who organized the Company by filing the Certificate of Formation with the Secretary of State of Tennessee on behalf of the Company.

(ii) “Party” means, for purposes of Article 9, any Person who was, is, or is threatened to be, made a named defendant or respondent in a Proceeding.

(jj) “Person” means any individual, partnership, limited liability company, corporation, trust, or other entity.

(kk) “Personal Representative” means any Person who succeeds to such Member’s estate as a result of such Member’s death, legal incompetence, or event of bankruptcy and any transferee of such Member’s interest from any such Person.

(ll) “Preemptive Rights” shall have the meaning assigned to such term in Section 2.12.

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(mm) “Picture” shall mean the feature length motion picture presently entitled “Iron Lilly.”

(nn) “Proceeding” means any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, and whether formal or informal.

(oo) “Profits” and “Losses” mean, for each fiscal year or other period, an amount equal to the Company’s taxable income or loss for such year or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

(1) Income of the Company that is exempt from federal income tax and not otherwise taken into account in computing Profits or Losses hereunder shall be added to such taxable income or loss;
(2) Any expenditures of the Company described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Regulations Section 1.704-1(b)(2)(iv)(i) and not otherwise taken into account in computing Profits or Losses hereunder shall be subtracted from such taxable income or loss;
(3) In the event the Gross Asset Value of any Company asset is adjusted pursuant to subparagraphs (2) or (3) of the definition of Gross Asset Value hereunder, the amount of such adjustment shall be taken into account as gain or loss from the disposition of such asset for purposes of computing Profits or Losses;
(4) Gain or loss resulting from any disposition of a Company asset with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Gross Asset Value of the asset disposed of, notwithstanding that the adjusted tax basis of such asset differs from its Gross Asset Value;
(5) In lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such fiscal year or other period computed in accordance with the definition of Depreciation contained herein;
(6) To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Code Sections 734(b) or 743(b) is required by Regulations Section 1.704-1(b)(2)(iv)(m)(4) to be taken into account in determining Capital Accounts as a result of a distribution other than in liquidation of a Member's interest in the Company, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases the basis of the asset) from the disposition of the asset and shall be taken into account for purposes of computing Profits or Losses; and
(7) Notwithstanding any other provision herein, any items which are specially allocated pursuant to Section 4.04 and Section 4.04 shall not be taken into account in computing Profits or Losses.

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(pp) “Record Holder” means a Member who is a Member as of the record date as proved in Section 6.07 hereof.

(qq) “Regulations” includes proposed, temporary and final regulations promulgated under the Code.

(rr) “Subsequent Closings” shall have the meaning assigned to such term in Section 2.04.

(ss) “Successor” means a Member’s executor, administrator, guardian, conservator, other legal representative or successor.

(tt) “Transfer” means, as a noun, any voluntary or involuntary transfer, sale, pledge, hypothecation, or other disposition and, as a verb, voluntarily or involuntarily to transfer, sell, pledge, hypothecate or otherwise dispose of an item, and in either case, including a Transfer by operation of law, divorce, bankruptcy, foreclosure, judicial sale or otherwise.

(uu) “Unit” means a unit representing a Membership Interest in the Company. All Membership Interests in the Company shall be represented by Units. Units can be owned in fractional denominations of less than a whole Unit. Units shall initially be issued as “Class A Units” and “Class B Units.” For purposes of this Agreement, a Class A Unit shall mean a Unit in the Company that entitles the Record Holder thereof to all rights, powers and obligations of a member of a limited liability company formed under the Act, provided, however, the Record Holder of a Class A Unit shall not be entitled to vote on any matters brought before the Members of the Company for a vote unless the right to vote is specifically provided herein, and shall not be entitled to participate in management, unless specifically elected as a Manager, as provided herein. For purposes of this Agreement, a Class B Unit shall mean a Unit in the Company that entitles the Record Holder thereof to all rights, powers and obligations of a member of a limited liability company formed under the Act, including, without limitation, the right to vote on all matters brought before the Members of the Company for a vote. There shall be up to one hundred forty-eight thousand five hundred (148,500) Class A Units and one thousand five hundred (1,500) Class B Units. The term Unit shall include both Class A Units and Class B Units. In the event the Manager raises additional Capital Contributions by issuing Units in the Company different than Class A Units or Class B Units, then such additional class of units in the Company shall also be referred to as Units. As of February 1, 2023, the Units are based upon a Fifteen Million Dollar ($15,000,000) valuation. Subsequent sales of Units (including newly issued Units) may be based upon different valuations, which shall be determined by the Manager in its sole discretion.

## ARTICLE 2. ORGANIZATION

Section 2.01 Formation. The Company was formed on August 29, 2022, upon the filing of Articles of Formation by the Organizer with the Secretary of State of the State of Tennessee.

Section 2.02 Adoption of Agreement. The Members hereby adopt this Agreement as the operating agreement of the Company, as the terms “operating agreement” and “limited liability company agreement are used in the Act, to set forth the rules and regulations regarding the management of the business of the Company, the governance of the Company, the conduct of its business and the rights and privileges of its members.

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Section 2.03 Name. The name of the Company shall be IRON LILLY, LLC. The Company may adopt and conduct its business under such assumed or trade names as the Manager may from time to time determine. The Company shall file any assumed or fictitious name certificates as may be required to conduct business in any state.

Section 2.04 Company Property. The Company's property shall consist of all Company assets and all Company funds, including but not limited to, the Picture, and the copyright therein.

Section 2.05 Section 9.02 Copyright to the Picture. Company shall own, solely and exclusively, on a worldwide basis, the entire copyright (and all extensions and renewals of copyright) in and to the Picture and all film, tape, databases and other physical materials embodying the same and/or created in connection therewith, as well as the screenplay for the Picture, all characters, events, stories, narratives, dialogue, music, effects and other elements contained therein and all of the results and proceeds of Company's services (collectively, the "Materials"), and may, at its option, file copyright registrations for all rights associated with or derived from the Picture in Company's name. It is understood and agreed that upon dissolution of the Company, if all the rights in the Picture and/or its underlying property (to the extent owned by the Company) have not been disposed of by the Company prior to such dissolution, then any and all copyrights and copyright rights ancillary thereto of the Company in and to the Picture and/or its underlying property (to the extent owned by the Company) shall be promptly transferred to the Managers in equal portions to each of the Managers, unless otherwise specified in this Agreement or any other agreement in connection with the Picture and the Managers shall assume all responsibility and obligations (including repayment obligations to the Members and disbursement of Profit Participations to third parties) in connection with the Picture. In furtherance thereof, the Managers shall promptly execute all necessary and proper assignments and/or other documents to effectuate said transfer.

# ARTICLE 1. PURPOSE AND POWERS

Section 1.01 Purpose. The Company operates a business pertaining to with the development, production, and exploitation of the Picture.

Section 1.02 Powers. The Company may exercise all powers necessary or convenient to carry out its business and affairs and to effectuate the purposes set forth in Section 1.01 hereof which may be legally exercised by limited liability companies under the Act.

Section 1.03 Nature of Members' Interests. The Membership Interests of the Members in the Company shall be personal property for all purposes. Legal title to all Company assets shall be held in the name of the Company. Neither any Member nor a successor, representative or assign of such Member, shall have any right, title or interest in or to any Company property or the right to partition any real property owned by the Company.

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# ARTICLE 2. INITIAL MEMBER, CLOSING, CAPITAL CONTRIBUTIONS, MEMBERSHIP INTERESTS, COMPANY INDEBTEDNESS AND CAPITAL ACCOUNTS

**Section 2.01 Initial Member.** As of the date of this Agreement and until such time as the Initial Closing (defined below) occurs, the Company shall have only one Member, CITY OF PEACE FILMS, INC., a Tennessee corporation (“**COP**”). Initially COP’s Membership Interest shall consist of one thousand five hundred (1,500) Class B Units. After the Initial Closing, COP shall continue to own such Class B Units, and the Company will transfer the Class A Units to potential investors upon completing a Funding Agreement and agreeing to make the corresponding Capital Contributions for the number of Class A Units. COP may freely offer and assign Units held by COP to Persons for incentive purposes without any required consent of the Class A Members. Until (and in the event of) a new class of equity or other security is issued by the Company, the Class B Member shall be considered to hold all of the remaining Financial Rights in the Company not held by the Class A Members’ Membership Percentages, regardless of whether the Class B Member actually holds the unissued Class A Units.

**Section 2.02 Minimum Funding and Failure to Obtain Minimum Funding.** As a condition precedent to the Company having an Initial Closing (defined below), the Company must receive subscriptions for at least two hundred thousand (200,000) Class A Units with corresponding Capital Contributions equal to, or greater than, Two Hundred Thousand Dollars ($200,000) (the “**Minimum Funding**”), from potential Class A Members, whose Funding Agreements have been accepted by the Manager on behalf of the Company. If the Company fails to obtain subscriptions equal to, or greater than, the Minimum Funding prior to July 1, 2024, then the Manager shall terminate the operations of the Company and wind up its business and the Capital Contributions shall be returned.

**Section 2.03 Initial Closing, Initial Capital Contributions and Class A Units.** Upon the date determined in the reasonable discretion of the Manager, which in no event shall occur before the Company has received subscriptions equal to, or greater than, Minimum Funding, all potential Class A Members who have properly executed and delivered Funding Agreements and signature pages of this Agreement to the Escrow Agent shall be admitted as Class A Members (the “**Initial Closing**”); **provided, however**, that the Manager has accepted the Funding Agreement of each such potential Class A Member. The consideration for each Class A Unit at the Initial Closing shall equal to One Hundred Dollars ($100) per Class A Unit. As of the date of the Initial Closing, each new Class A Member shall be credited with having made an initial Capital Contribution to the Company pursuant to the terms and conditions of this Agreement in the amount set forth in such Class A Member’s Funding Agreement. **Exhibit A** hereto shall be amended to reflect the number of Class A Units for which such Class A Member has subscribed, and the Capital Contributions made to the Company. Furthermore, the Manager shall promptly cause the Company to issue a Certificate representing such number of Class A Units to such Class A Member. **Exhibit A** shall further be amended from time to time to reflect the admission of new Class A Members and to reflect any changes to the Capital Contributions that may occur. Upon the occurrence of the Initial Closing, the Escrow Agent shall be authorized to deliver the funds that are held by the Escrow Agent on behalf of each Class A Member to the Company.

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Section 2.04 Subsequent Closings. All closings of Class A Units subsequent to the Initial Closing (each, a “Subsequent Closing”) shall be made in the sole and absolute discretion of the Manager, provided that the final closing will occur no later than December 31, 2024 (the “Final Closing”). Subsequent Closing shall be subject to all potential new Class A Members having delivered properly executed Funding Agreements and signature pages of this Agreement and the Manager accepting such Funding Agreement on behalf of the Company. As of the date of any Subsequent Closing, each new Class A Member shall be credited with having made a Capital Contribution to the Company pursuant to the terms and conditions of this Agreement in the amount set forth in such new Class A Member’s Funding Agreement. Exhibit A hereto shall be amended to reflect the number of Class A Units for which such new Member has subscribed and the Capital Contribution made to the Company. Furthermore, the Manager shall promptly cause the Company to issue a Certificate representing such number of Class A Units to each new Class A Member.

### Section 2.05 Company Indebtedness.

(a) The Manager shall have the right, at its option, to cause the Company to obtain financing and may enter into one or more credit facilities (collectively, the “Indebtedness”) from time to time in order to pay Company Expenses or carry out any other purpose of the Company, and in furtherance thereof, the Manager may pledge or otherwise encumber assets of the Company to secure any such Indebtedness.

Section 2.06 Withdrawal or Reduction of Members’ Capital Contributions. No Member shall have the right to withdraw. A Member shall not receive out of the Company’s property all or any part of such Member’s Capital Contributions except as provided herein.

Section 2.07 Interest and Preferential Rights. Except as otherwise specifically herein, no interest shall accrue on any Capital Contributions, and no Member shall have any preferential rights with respect to distributions or upon dissolution of the Company.

Section 2.08 Membership Interests, Exhibit A Amendments. Each Member shall be credited with the Units, Membership Percentage, and Capital Contributions on Exhibit A. The amounts shown on Exhibit A with respect to the Units, Membership Percentage and Capital Contributions shall be appropriately adjusted to reflect any Capital Contributions made by Members, any withdrawals or reductions in Capital Contributions, any changes in the membership of the Company or any Transfers of Membership Interests. Exhibit A shall also be amended from time to time to reflect any changes in the addresses of Members. Until the Final Closing, the Membership Percentages for the Class A Units shall be based upon a Fifteen Million Dollar ($15,000,000) valuation. Until (and in the event of) a new class of equity or other security is issued by the Company, the Class B Member shall be considered to hold all of the remaining Financial Rights in the Company not held by the Class A Members’ Membership Percentages, regardless of whether the Class B Member actually holds the unissued Class A Units.

### Section 2.09 Capital Accounts.

(a) Creation of Capital Accounts. The Company shall establish a “Capital Account” for each Member and the Capital Accounts shall initially be credited with the amount of the Members’ respective Capital Contributions. Notwithstanding anything to the contrary

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contained in this Agreement, the Capital Account of each Member shall be determined and maintained throughout the full term of the Company in accordance with the capital accounting rules of Regulations Section 1.704-1(b)(2)(iv). In general, each Member's Capital Account shall be:

(1) Credited with such Person's Capital Contributions, such Person's distributive share of Profits (including Profits from a sale or disposition of Company assets), and any items in the nature of income or gain which are specially allocated pursuant to Section 4.04 and Section 4.04 hereof, and the amount of any Company liabilities assumed by such Person or which are secured by any Property distributed to such Person; and

(2) Debited with the amount of cash and the Gross Asset Value of any property distributed to such Person pursuant to any provision of this Agreement, such Person's distributive share of Losses, and any items in the nature of expenses or losses which are specially allocated pursuant to Section 4.04 and Section 4.04 hereof, and the amount of any liabilities of such Person assumed by the Company or which are secured by any property contributed by such Person to the Company.

(b) Transfers of Capital Accounts. Upon the transfer by any Member of all or part of his Financial Rights in the Company, the proportionate amount of his Capital Account, determined as provided herein, shall be transferred to the transferee of such interest; provided, however, that no transfer of any interest in the Company shall, in and of itself and to the extent permitted by law, relieve the transferor of any obligation to the Company, including, but not limited to, any such transferor's obligation to contribute to the capital of the Company.

(c) Compliance with Regulations. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Regulations Section 1.704-1(b), and shall be interpreted and applied in a manner consistent therewith. If the Manager determines it prudent to modify the manner in which the Capital Accounts, or any debits or credits thereto, are computed in order to comply with such Regulation, the Manager may make such modification, provided that it is not likely to have a material effect on the amounts distributable to any Member pursuant to Section 4.06 hereof upon the dissolution of the Company. The Manager also shall (1) make any adjustments that are necessary or appropriate to maintain equality between the Capital Accounts of the Members and the amount of Company capital reflected on the Company's balance sheet, as computed for book purposes, in accordance with Regulations Section 1.704-1(b)(2)(iv)(q), and (2) make any appropriate modifications in the event unanticipated events might otherwise cause this Agreement not to comply with Regulations Section 1.704-1(b). The Manager shall take into account Code Section 752(c) and any other applicable provisions of the Code and Regulations in determining the amount of any liability to be included in a Member's Capital Account for purposes of Section 2.09(a)(1) and Section 2.09(a)(2) hereof.

Section 2.10 Rights of Members to Capital. No Member shall be entitled to the return of any capital of the Company except upon the repurchase by the Company of part or all of such Member's Membership Interest as provided herein, or upon liquidation of the Company's assets pursuant to Section 4.06. No Member shall have the right to require partition of the Company's property or to compel any sale or appraisal of the Company's assets.

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**Section 2.11 Grant of Units.** The Manager shall have the right to grant transfer Units to employees and officers of the Company pursuant to any employee benefit plan, incentive award program or other employee compensation arrangement, plan or program approved by the Company's Managers, or other Parties in furtherance of the development of the Picture.

## **ARTICLE 3. EXPENSES AND FEES**

### **Section 3.01 Company Expenses.**

(a) The Company shall bear and be charged with the following costs and expenses of the Company paid or payable to third parties (and shall promptly reimburse the Manager or its Affiliates, as the case may be, to the extent that any of such costs and expenses are paid to third parties directly by such entities) (the "**Company Expenses**"):

(1) Fees and expenses for attorneys and accountants;

(2) Expenses in the development and exploitation of the Picture;

(3) All out-of-pocket costs and expenses, incurred in carrying out the purpose of the Company;

(4) Interest on and fees and expenses arising out of Indebtedness, including, but not limited to, the arranging thereof;

(5) The costs of any litigation, D&O liability or other insurance and indemnification or extraordinary expense or liability relating to the affairs of the Company;

(6) Expenses of liquidating the Company;

(7) Any taxes, fees or other governmental charges levied against the Company and all expenses incurred in connection with any tax audit, investigation, settlement or review of the Company; and

(8) Salaried employees of the Company.

(b) The Manager may withhold on a *pro rata* basis from any distributions amounts necessary to create, in its sole and absolute discretion, appropriate reserves for expenses and liabilities, contingent or otherwise, of the Company.

## **ARTICLE 4. DISTRIBUTIONS; ALLOCATION OF PROFITS AND LOSSES; LIQUIDATION PROCEEDS**

### **Section 4.01 Distributions.**

(a) The Company may, but is not obligated to, make current distributions out of its Available Cash Flow as the Managers in their sole discretion may determine. Such distributions shall be made to the Members *pro rata* based upon their respective Membership

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Percentages. Membership Percentages for the Class A Members shall be based upon such Class A Members Capital Contribution at a Fifteen Million Dollar ($15,000,000) valuation.

**Section 4.02 Profit Allocations.** Subject to Section 4.03, Section 4.04 and Section 4.05 hereof, Profits of the Company for each fiscal year, and all items of income entering into the determination of such Profits, shall all be allocated based on the method of which distributions are required to be made pursuant to Section 4.01.

**Section 4.03 Loss Allocations.** Subject to Section 4.04 and Section 4.05 hereof, Losses of the Company for each fiscal year, and all items of expenses and deductions entering into the determination of such Losses, shall all be allocated to the Class A Members *pro rata* in accordance with their respective Membership Percentages.

**Section 4.04 Special and Curative Allocations.** Special and curative allocations shall be made to the extent required by Sections 1.704-2 and 1.704-3 of the Regulations.

# **Section 4.05 Other Allocation Rules.**

(a) **Adjustments for Timing Differences.** To the extent the Company recognizes income for federal income tax purposes prior to actual receipt, appropriate adjustments to distributions shall be made upon receipt thereof so that such amounts are distributed in the same manner as such income was allocated.

(b) **Allocation of Certain Recapture Items.** To the maximum extent possible, any income recapture under Code Sections 1245 and 1250 shall be allocated to the Members in the same proportions as the depreciation deductions giving rise to such income or recapture were allocated among such Members and their respective predecessors in interest in accordance with applicable Regulations.

(c) **Transfer of Financial Rights.** In the event of a transfer of any portion of a Member's Financial Rights in the Company, and/or in the event of any increase or decrease in the Membership Percentage of any Member in the Company, whether arising out of or in connection with the entry of a new Member, the liquidation, partial or whole, of any Member's interest or otherwise, after the admission of any Member, the share of the Profits, Losses and gains or losses from the disposition of the Property, and each item of income and expense pertaining thereto, of the respective Members shall be fixed and determined by reference to the income and expenses reflected on the books and records of the Company according to the following convention: a Member admitted on or before the 15th day of the month shall be deemed admitted as of the 1st day of that month and a Member admitted after the 15th day of the month shall be deemed admitted as of the first day of the following month; **provided, however**, that if this convention is not permitted under applicable Regulations, a convention permitted under such Regulations approximating the foregoing as closely as possible will be used.

(d) **Section 704(c) Allocations.** In accordance with Code Section 704(c) and the Regulations thereunder, items of income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Value. In the event the Gross

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Asset Value of any Company asset is adjusted pursuant to the terms of this Agreement, subsequent allocations of income, gain, loss and any deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as under Code Section 704(c) and the Regulations thereunder. Any elections or other decisions relating to such allocations shall be made by the Manager in any manner that reasonably reflects the purpose and intention of this Agreement. Allocations pursuant to this Section 4.05(d) are solely for purposes of federal, state and local taxes and shall not affect or in any way be taken into account in computing, any Member's Capital Account or share of Profits, Losses, other items or distributions pursuant to any provision of this Agreement.

(e) Ordinary Income and Capital Gain Items. The characterization of allocations as ordinary income and capital gains, including the allocation of gain recognized for federal income tax purposes from a disposition of Company assets shall be proportionate to allocations of Profits and Losses to the Members.

(f) Certain Available Cash Flow Distributions. To the extent permitted by Regulations Section 1.704-2(h)(3), the Manager shall endeavor to treat distributions of Available Cash Flow as having been made from the proceeds of a Nonrecourse Liability or a Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Member.

(g) Allocations to Have Substantial Economic Effect. The allocations hereunder are intended to have substantial economic effect and/or be in accordance with the Members' interests in the Company as such terms are defined in Code Section 704(b) and the Regulations promulgated thereunder.

(h) Allocations Determinative for Tax Purposes. The Members are aware of the income tax consequences of the allocations made by this Article 6 and hereby agree to be bound by the provisions of this Article 6 in reporting their shares of Company income and loss for income tax purposes.

Section 4.06 Distributions Upon Liquidation. Upon the liquidation of the Company, the Manager or other Persons required or permitted by law to carry out the winding up of the affairs of the Company shall make or cause to be made a full accounting of the Company assets and liabilities, and the proceeds therefrom, to the extent sufficient therefore, shall be applied and distributed in the following order:

(a) To the extent of a liquidation in cash:

(1) To the payment of creditors in accordance with Section 79-29-813 of the Act (including any Member who has made a loan to the Company), in the order of priority as provided by law, except any claims of creditors whose obligations will be assumed or otherwise transferred on the liquidation of the Company assets;

(2) To the setting up of any reserves which the Manager deems reasonably necessary for any contingencies or unforeseen liabilities or obligations of the Company. Such reserves shall be paid over by the Manager to a bank or an attorney-at-law as escrow agent

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to be held for the purpose of disbursing such reserves in payment of any of the aforementioned contingencies. At the expiration of such period as the Manager shall deem advisable, the escrow agent shall distribute the balance thereof in the manner and order as provided in this Section 4.06;

(3) To the Members in accordance with the positive balances of their respective Capital Accounts, as adjusted pursuant to Section 2.09 hereof after allocation of Profits, Losses, and items of income, gain, loss and deduction for the year of the liquidation in accordance with Section 4.02, Section 4.03, Section 4.04, and Section 4.05 and after making any distributions pursuant to Section 4.01 hereof. In the event the proceeds are less than the total of the Capital Accounts of the Members, said proceeds shall be distributed among the Members based on the ratio that each Member's individual Capital Account (as adjusted) bears to the total Capital Accounts of all Members; and

(4) If the Company is 'liquidated' within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), distributions shall be made pursuant to this Section 4.06 to the Members who have positive Capital Accounts in compliance with Regulations Section 1.704-1(b)(2)(ii)(b)(2). If any Member has a deficit balance in his Capital Account (after giving effect to all contributions, distributions and allocations for all taxable years, including the year during which such liquidation occurs), such Member shall have no obligation to make any contribution to the capital of the Company with respect to such deficit, and such deficit shall not be considered a debt owed to the Company or to any other Person for any purpose whatsoever. Notwithstanding any other provision of this Section 4.06, in the event the Company is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), but the Company is not actually dissolved, the Company assets shall not be liquidated, the Company's liabilities shall not be paid or discharged, and the Company's affairs shall not be wound up. Instead, the Company shall be deemed to have distributed its assets in kind to the Members who shall be deemed to have assumed and taken subject to all Company liabilities, all in accordance with their respective Capital Accounts. Immediately thereafter, the Members shall be deemed to have recontributed the assets in kind to the Company, which shall be deemed to have assumed and taken subject to all such liabilities.

(b) To the extent of a liquidation of the assets of the Company in kind, the fair market value thereof shall be determined and each Member shall receive an undivided interest therein equal to the portion of the proceeds to which he, she or it would be entitled under Section 4.06(a) hereof if such assets were sold or otherwise converted to cash.

**Section 4.07 Withholding.** Notwithstanding any other provision of this Agreement, the Manager is authorized to take any action that it determines to be necessary or appropriate to cause the Company to comply with any withholding requirements established under the Code or any other federal, state or local law including, without limitation, pursuant to Code Sections 1441, 1442, 1445 and 1446. To the extent that the Company is required to withhold and pay over to any taxing authority any amount resulting from the allocation or distribution of income to the Member or assignee (including by reason of Code Section 1446), the amount withheld shall be treated as a distribution of cash in the amount of such withholding to such Member.

**Section 4.08 Consequences of Distributions.** Upon the determination to distribute, remit or pay funds in any manner expressly provided in this Article 6, made in good faith, the Members shall incur no liability on account of such distribution, even though such distribution

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may have resulted in the Company retaining insufficient funds for the operation of its business, which insufficiency resulted in loss to the Company or necessitated the borrowing of funds by the Company.

# ARTICLE 5. RIGHTS AND DUTIES OF MANAGER

Section 5.01 Management. The business and affairs of the Company shall be managed by its Manager. Except for situations in which the approval of the Members is expressly required by this Agreement or by non-waivable provisions of the Act, the Manager shall have full and complete authority, power and discretion to manage and control the business, affairs and properties of the Company, to make all decisions regarding those matters and to perform any and all other acts or activities customary or incident to the management of the Company's business.

Section 5.02 Election and Number. Except as set forth in Section 5.04, the Manager shall be elected by the Class B Members at a meeting of such Class B Members and shall serve until its successor is elected and qualified. Managers need not be residents of the State of Mississippi nor hold Membership Interests.

# Section 5.03 Removal or Resignation of Manager.

(a) The Manager may be removed with or without cause by a vote of Class B Members holding a majority in interest of the Class B Units. Such vote may be held at a meeting called expressly for that purpose, notice of which shall have referred to the proposed action (except as provided in Section 6.03 and Section 6.06).
(b) The Manager may resign at any time by giving written notice to the Members. The resignation of any Manager shall take effect upon receipt of notice thereof or at such later time as shall be specified in such notice, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.
(c) The removal or resignation of a Manager who is also a Member shall not affect the rights of such Manager as a Member and shall not in itself constitute the withdrawal, retirement or expulsion of such Member.

Section 5.04 Filling of Vacancies. A vacancy occurring in the office of the Manager for any reason shall be filled by the Class B Members holding a majority in interest of the Class B Units, notice of which shall have referred to the proposed election (except as provided in Section 6.03 and Section 6.06).

Section 5.05 Initial Manager. Initially, and until replaced by the Class B Members pursuant to Section 5.02, Section 5.03, and Section 5.04, the Manager shall be YOCHANAN MARCELLINO.

Section 5.06 Powers of Manager. Except to the extent otherwise provided herein, the Manager shall have the sole and exclusive right to manage the business of the Company and shall have all of the rights and powers which may be possessed by a Manager under the Act including, without limitation, the right and power to:

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(a) Make all decisions concerning the investigation, selection, negotiation, structuring, commitment to, monitoring of the business of the Company;

(b) Direct the formulation of investment policies and strategies for the Company;

(c) Enter into Closings pursuant to Article 2;

(d) Raise funds for the Company by issuing new classes of equity in the Company, or issuing or selling any options, warrants, convertible securities, or other rights to purchase or subscribe for Units, which new classes of equity may have the effect of diluting the Members of the Company;

(e) Open, maintain and close bank accounts and draw checks or other orders for the payment of money and open, maintain and close brokerage, money market fund and similar accounts;

(f) Hire for usual and customary payments and expenses consultants, investment bankers, brokers, appraisers, attorneys, accountants and such other agents for the Company as it may deem necessary or advisable, including, without limitation, for any management, construction, leasing and other property management services, and authorize any such agent to act for and on behalf of the Company;

(g) Enter into, execute, maintain and/or terminate contracts, undertakings, agreements and any and all other documents and instruments in the name of the Company, and do or perform all such things as may be necessary or advisable in furtherance of the Company's powers, objects or purposes or to the conduct of the Company's activities;

(h) Incur Indebtedness and provide indemnities in connection therewith, on a recourse or non-recourse basis, on behalf of the Company and, in its discretion, secure any and all of such Indebtedness with the assets of the Company;

(i) Act as the 'Partnership Representative' under the Code and in any similar capacity under state, local or foreign law;

(j) Make, in its sole discretion, any and all elections for U.S. federal, state, local and foreign tax matters, including any election to adjust the basis of Company property pursuant to Sections 734(b), 743(b) and 754 of the Code or comparable provisions of state, local or foreign law; and

(k) Acquire by purchase, or otherwise, from any Person any real or personal property which may be necessary, convenient, or incidental to the accomplishment of the purposes of the Company (and the fact that a Manager or a Member is directly or indirectly affiliated or connected with any such Person shall not prohibit the Manager from dealing with that Person);

(l) Execute, in furtherance of any or all of the purposes of the Company, any deed, lease, mortgage, deed of trust, mortgage note, promissory note, guarantee, bill of sale, contract, or other instrument purporting to convey or encumber any or all of the Company's assets;

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(m) Prepay in whole or in part, refinance, recast, increase, modify, or extend any Indebtedness and in connection therewith execute any extensions or renewals of encumbrances on any or all of the Company's assets;
(n) Hold and own any Company real and/or personal properties in the name of the Company;
(o) Supplement, amend or modify this Agreement (provided the majority vote of the Class B Members has been obtained);
(p) Enter into a sale of the business or a sale of the Company or substantially all of the assets of the Company, or enter into a merger with another entity irrespective of whether the Company is the surviving entity
(q) Institute, prosecute, defend, settle, compromise, and dismiss lawsuits or other judicial or administrative proceedings brought on or in behalf of, or against, the Company, or any Manager or Member in connection with activities arising out of, connected with, or incidental to this Agreement, and to engage counsel or others in connection therewith; and
(r) Exploit the Picture and enter into any arrangement regarding the intellectual property of the Picture in furtherance of the business.

Section 5.07 Authority of Agents. Unless authorized to do so by this Agreement or by the Manager, no attorney-in-fact, employee or other agent of the Company shall have the power or the authority to bind the Company in any way, to pledge its credit or to render it liable pecuniarily for any purpose. No Member shall have any power or authority to bind the Company unless the Member has been authorized by the Manager to act as an agent of the Company in accordance with the foregoing.

Section 5.08 Right to Rely on Manager. Any Person dealing with the Company may rely (without duty or further inquiry) upon a certificate signed by any Manager as to:

(a) The identity of the Manager or any Member;
(b) The existence or nonexistence of any fact or facts which constitute a condition precedent to acts by the Manager or which are in any other manner germane to the affairs of the Company; or
(c) The Persons who are authorized to execute and deliver any instrument or document of the Company.

# Section 5.09 Limitation on Liability.

(a) A Manager shall not be liable for any action taken as a Manager, or any failure to take action as a Manager, except (i) to the extent that such loss or damage shall have been the result of gross negligence or willful misconduct, or (ii) except as otherwise specifically required by the Act, to the extent that such Manager may be liable for wrongful distributions under the Act, but, in no event later than two (2) years after the distribution.

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(b) A Member shall not be liable for any action taken as a Member, except (i) for failure to make a Capital Contribution pursuant to this Agreement and the Funding Agreement, or (ii) except as otherwise specifically required by the Act, to the extent that such Member may be liable for wrongful distributions under the Act, but, in no event, later than two (2) years after the distribution.

Section 5.10 Compensation and Reimbursement. Except as expressly provided in herein, no Manager or Member shall have any right to compensation for any services performed on behalf of the Company except (a) under employment contracts ratified by the Manager and approved by all Members, or (b) as otherwise provided in this Agreement. Notwithstanding the foregoing, a Manager shall have the right to be reimbursed by the Company for any out-of-pocket expenses incurred by such Manager in connection with any services performed by such Manager on behalf of the Company. All normal, day-to-day expenses of operating the Company (such as salaries of employees, rent and general office expenses) shall be borne by the Company. The Company shall pay the legal and other expenses incurred in connection with the formation of the Company and will pay legal and other expenses associated with its business.

Section 5.11 Contracts With Affiliates. The Company may acquire property or services from, and have other transactions with, persons who are Members, Manager or its respective Affiliates

# ARTICLE 6. MEETINGS OF CLASS B MEMBERS AND ACTIONS ON WRITTEN CONSENT

Section 6.01 Regular Meetings. Regular meetings of the Class B Member(s) may be held at such time and at such place as shall from time to time be determined by the Class B Member(s). The dates, times and places of regular meetings shall be announced at a meeting of the Class B Member(s) and such notice shall be effective immediately as to Class B Member(s) who are present at the meeting. As to Class B Member(s) who are not present at the meeting, such notice shall be effective as specified in Section 2.01 hereof (which notice for this purpose may include the minutes of the meeting at which the dates, times and places of the regular meetings are set). If the date, time and place of more than one regular meeting is established in accordance with the above procedure, then no further notice is required. If the date, time and place of one or more regular meetings is changed, then said changes shall be effective immediately as to those Members present at any meeting of the Class B Member(s) at which such changes are announced, and shall be effective as to those other Class B Member(s) when notice is delivered as specified in Section 2.01 hereof (which notice for this purpose may include the minutes announcing such change).

Section 6.02 Special Meetings. Special meetings of the Class B Members, for any purpose or purposes, including, without limitation, proposals to amend the Certificate of Formation or elect Managers, may be called by the Manager or by the Class B Members holding in the aggregate at least ten percent (10%) of the Class B Units.

Section 6.03 Action by Class A Member Without a Meeting. Action required or permitted to be taken at a meeting of Class B Member(s) may be taken without a meeting. If Class B Member(s) holding a majority in interest of the Class B Units consent to voting on such action without a meeting, the affirmative vote of the Class B Member(s) that would otherwise be

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necessary to authorize or to take such action at a meeting shall be sufficient to constitute the act of the Class B Member(s) without a meeting. The action without a meeting must be evidenced by one (1) or more written consents describing the action taken, signed by Class B Members holding a majority in interest of the Class B Units in one (1) or more counterparts, indicating each signing Class B Member's vote or abstention on the action and delivered to the Company for inclusion in the minutes or filing with the Company records. A consent signed under this Section 6.03 has the effect of a meeting vote and may be described as such in any document.

**Section 6.04 Place of Meetings; Telephone Meetings.** The Class B Member(s) may designate any place, either in or outside the State of Mississippi, as the place of any meeting of the Class B Member(s). If no designation is made, the place of meeting shall be the principal executive office of the Company in the State of Mississippi. A meeting may take place by telephone conference call or any other form of electronic communication through which the Class B Member(s) participating may simultaneously hear each other. Such meeting shall be deemed to be held at the principal executive office of the Company or at the place properly named in the notice calling the meeting. The Class B Member(s) may elect any one of their number to act as chairman of any meeting.

**Section 6.05 Notice of Meetings.** Written notice stating the place, day and hour of the meeting and the purpose or purposes for which the meeting is called shall be delivered not less than ten (10) days (or any shorter period that may hereafter be permitted by the Act) nor more than two (2) months before the date of the meeting, either personally or by mail, by or at the direction of the Person calling the meeting, to each Member entitled to vote at such meeting. If mailed, such notice shall be deemed to be delivered as provided in Section 2.01 hereof or in the Act. The business conducted at any meeting need not be limited to the matters referenced in the notice of the meeting. No notice shall be required for action on written consent pursuant to Section 6.03 above.

**Section 6.06 Waiver of Notice.** When any notice is required to be given to any Member, a waiver (or counterpart) thereof in writing signed by Members entitled to such notice holding a Majority in Interest of the Member(s), whether before, at, or after the time stated therein, shall be equivalent to the giving of such notice. Attendance by a Member at a meeting is a waiver of notice of such meeting, except if the Member objects at the beginning of the meeting to the transaction of business because the meeting is not lawfully called or convened and does not otherwise participate in the consideration of any matter at the meeting.

**Section 6.07 Record Date.** For the purpose of determining Class B Member(s) entitled to notice of or to vote at any meeting of Class B Member(s) or any adjournment thereof, or Class B Member(s) entitled to receive payment of any distribution, or in order to make a determination of Class B Member(s) for any other purpose, the day before the date on which notice of the meeting is mailed or the date on which the resolution declaring such distribution is adopted, as the case may be, shall be the record date for such determination of Class B Member(s). When a determination of Class B Member(s) entitled to vote at any meeting of Class B Member(s) has been made as provided in this Section 6.07, such determination shall apply to any adjournment thereof.

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Section 6.08 Voting List. When a record date for any meeting has been set or any notice of a meeting has been mailed, the Managers of the Company shall prepare a list of names of all Class B Member(s) who are entitled to vote at the meeting and show the address of and Class A Units held by each Class A Member as reflected in the records of the Company. Such list shall be available for inspection and copying by any Member, beginning two (2) business days after notice of the meeting is given and continuing through the meeting at the Company's principal executive office. Such list shall be identical to Exhibit A hereto, as amended from time to time, unless the Managers prepare an alternative list.

Section 6.09 Quorum. Class B Member(s) holding at least a majority in interest of the Class B Units, represented in person or by proxy, shall constitute a quorum at any meeting of Members except for any matter that requires the approval of a greater proportion of the Class B Member(s) pursuant to the Act, the Certificate of Formation, or this Agreement. A quorum, once present, is not broken by the subsequent withdrawal of any Member. A meeting may be adjourned, despite the absence of a quorum, by the chairman of the meeting or by Class B Member(s) holding at least a majority in interest of the Class B Units present in person or represented by proxy, until a quorum shall be present or represented.

Section 6.10 Required Vote; Manner of Acting. If a quorum is present, the affirmative vote of Class A Members holding at least a majority in interest of the Class B Units present at the meeting shall be the act of the Class B Member(s), except as to matters which the consent of a lesser or a greater proportion of the Class B Member(s) is otherwise required by the Act, the Certificate of Formation or this Agreement.

Section 6.11 Proxies. At all meetings of Members, a Member may vote in person or by proxy executed in writing by a Member or by a duly authorized attorney-in-fact, to the extent permitted by the Act. Such proxy shall be filed with the Company before or at the time of the meeting. No proxy shall be valid after eleven (11) months from the date of its execution, unless otherwise provided in the proxy.

Section 6.12 Vote of Class A Members. Unless specifically required by the Act, the Certificate of Formation, of this Agreement, the Class A Members shall not be entitled to vote on matters before the Company.

# ARTICLE 7. INDEMNIFICATION

Section 7.01 Standard for Indemnification. The Company shall indemnify, and upon request shall advance expenses prior to final disposition of a Proceeding to, any Person (the "Indemnified Person") (or the estate or personal representative of any Person) who is or was a Party to, or is threatened to be made a Party to, any Proceeding, whether or not by or in the right of the Company, by reason of the fact that such Person is or was a manager, employee or agent of the Company, or is or was serving at the request of the Company as a manager, director, officer, partner, trustee, employee or agent of another limited liability company, corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against any Liability to the fullest extent permitted by the Act if the acts or omissions of the Indemnified Persons did not constitute gross negligence or willful misconduct. The Company may, to the fullest extent permitted by law,

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purchase and maintain insurance on behalf of any such Person against any Liability which may be asserted against him.

Section 7.02 Effect of Provisions. The rights to indemnification and advancement of expenses set forth in this Article 9 are intended to be greater than those which are otherwise provided for in the Act, are contractual between the Company and the Person being indemnified, and the heirs, executors and administrators of such person, and in this respect are mandatory, notwithstanding a person's failure to meet the standard of conduct required for permissive indemnification under the Act, as amended from time to time. The rights to indemnification and advancement of expenses are set forth in this Article 9 shall not be deemed exclusive of any other rights to which those Persons seeking indemnification or advancements of expenses may be entitled or granted by law, the Certificate of Formation, this Agreement, vote of the Manager or the Members, or an agreement with the Company, which means of indemnification and advancement of expenses are hereby specifically authorized.

Section 7.03 Repeal or Modification. Any repeal or modification of the provisions of this Article 9 shall not affect any obligations of the Company or any rights regarding indemnification and advancement of expenses of a Person with respect to any Proceeding for which indemnification or the advancement of expenses is requested, in which the alleged cause of action accrued at any time prior to such repeal or modification. If an amendment to the Act hereafter limits or restricts in any way the indemnification rights permitted by law as of the date hereof, such amendment shall apply only to the extent mandated by law and only to activities of Persons subject to indemnification under this Article 9 which occur subsequent to the effective date of such amendment.

Section 7.04 Effect of Invalidity of Article. If this Article 9 or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify each Person as to any Liability incurred or other amounts to be paid with respect to any Proceeding, including, without limitation, a grand jury Proceeding and any Proceeding by or in the right of the Company, to the fullest extent permitted by any applicable portion of this Article 9 that shall not have been invalidated, by the Act, or by any other applicable law.

### ARTICLE 8. FISCAL MATTERS

Section 8.01 Books and Records. Full and accurate books and records of the Company (including without limitation all information and records required by the Act) shall be maintained at its principal place of business showing all receipts and expenditures, assets and liabilities, profits and losses, and all other records necessary for recording the Company's business and affairs. All Members (including Class A Members) shall have the right to inspect and copy the books and records of the Company, during regular business hours, at the Company's principal place of business, upon provision of notice in writing by any Member (including a Class A Member) to the Company at least thirty (30) days before the date on which such Member desires to inspect and copy said books and records.

Section 8.02 Fiscal Year. The fiscal year of the Company shall be the calendar year.

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Section 8.03 Tax Status. Notwithstanding any provision hereof to the contrary, solely for purposes of the federal income tax laws, each of the Members hereby recognizes that the Company will be subject to all provisions of Subtitle A, Chapter 1, Subchapter K of the Code; provided, however, that the filing of a United States Partnership Return of Income shall not be construed to extend the purposes of the Company or expand the obligations or liabilities of the Members.

Section 8.04 Reports to Members. Each of the following reports shall be prepared at the Company's expense, and shall be delivered to each Member (including Members holding Class B Units):

(a) Within seventy-five (75) days after the end of each fiscal year, all information reasonably requested by Members for the preparation of the Members' federal, state and local income tax returns;

(b) Within thirty (30) days after the end of each fiscal quarter, all information necessary for the preparation of any quarterly federal, state or local income tax returns of the Members; and

(c) Within ninety (90) days after the end of each fiscal year, an annual report of the activities of the Company, including a balance sheet, income statement and a statement of cash flow.

Section 8.05 Accounting Decisions. All decisions as to accounting matters, except as expressly provided in this Agreement, shall be made by the Manager.

Section 8.06 Bank Accounts. All funds of the Company shall be deposited in its name at the Company's principal financial institution or other financial institutions, and subject to such signatories, as may be approved by the Manager.

Section 8.07 Partnership Representative. The "Partnership Representative" shall mean the Member responsible for all administrative and judicial proceedings for the assessment and collection of tax deficiencies or the refund of tax overpayment arising out of any Member's distributive share of items of income, deduction, credit and/or of any other Company item (as that term is defined in the Code or in the Regulations) allocated to the Members affecting any Member's tax liability. The initial Partnership Representative shall be YOCHANAN MARCELLINO. The Partnership Representative shall promptly give notice to all Members of any administrative or judicial proceeding pending before the Internal Revenue Service involving any Company item and the progress of any such proceeding. Such notice shall be in compliance with such regulations as are issued by the Internal Revenue Service. The Partnership Representative shall have all the powers provided to a "partnership representative" in Code Sections 6221 through 6233, including the specific power to extend the statute of limitations with respect to any matter which is attributable to any Company item or affecting any item pending before the Internal Revenue Service and to select the forum to litigate any tax issue or liability arising from Company items. The Partnership Representative shall be a Person elected by Members holding a Supermajority of Voting Percentages. The Partnership Representative shall be entitled to reimbursement for any and all reasonable expenses incurred with respect to any administrative

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and/or judicial proceedings affecting the Company. Notwithstanding the foregoing, the Manager shall be responsible for the preparation and timely filing of all tax returns, franchise tax returns and annual reports of the Company, and shall have the sole and absolute discretion to make any and all tax elections with respect thereto. The initial Partnership Representative shall be the Manager.

## ARTICLE 9. TRANSFER OF CLASS A UNITS; TERMINATION OF CLASS A UNITS; INVESTOR REPRESENTATIONS

### Section 9.01 Transfer of Class A Units.

(a) A Class A Unit or portion thereof may be transferred only (i) by operation of law resulting from such Class A Member's death, disability, dissolution, bankruptcy or incompetence or (ii) with the written consent of the Manager, which consent may be withheld in the Manager's sole and absolute discretion and shall not be subject to challenge by any potential assignor or assignee.

(b) Unless otherwise waived by the Manager, in its sole and absolute discretion, any Transfer shall be made only upon the receipt by the Company of an opinion of counsel (which opinion shall be obtained at the expense of the transferor) that the Transfer will be made pursuant to an available exemption from registration under the 1934 Act and applicable state securities laws and of an executed and complete Funding Agreement. A Class A Member who Transfers all or any portion of a Class A Unit may be charged reasonable expenses, including attorneys' and accountants' fees, incurred by the Company in connection with the Transfer. Any transferee of Class A Units shall be bound by this Agreement, in addition to any representations made under the Funding Agreement.

(c) Any transferee acquiring a Class A Unit by operation of law as a result of the death, dissolution, bankruptcy or incompetence of any Class A Member or otherwise will be entitled to the allocations and distributions allocable to the Class A Units so acquired, to Transfer all or any portion of a Class A Units in accordance with the terms of this Agreement and to tender all or any portion of a Class A Unit for repurchase by the Company, but will not be entitled to the other rights of a Class A Member unless and until the Transferee becomes a substituted Class A Member of the Company. If a Class A Member Transfers its Class A Units with the approval of the Manager, the Company will take all necessary actions so that each transferee or successor to whom the Class A Unit is transferred are admitted to the Company as a Class A Member.

(d) In subscribing for Class A Units, a Class A Member agrees to indemnify and hold harmless the Company, the Manager, each other Class A Member and its Affiliates against all losses, claims, damages, liabilities, costs and expenses (including legal or other expenses incurred in investigating or defending against any losses, claims, damages, liabilities, costs and expenses or any judgments, fines and amounts paid in settlement), joint or several, to which those persons may become subject by reason of or arising from any Transfer made by that Class A Member in violation of these provisions or any misrepresentation made by that Class A Member in connection with any Transfer.

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# Section 9.02 Withdrawal and Removal of Class A Members.

(a) Withdrawal. Except as provided herein, a Class A Member may not withdraw from the Company (whether voluntarily, by operation of law or otherwise) prior to the dissolution and winding up of the Company except in connection with a Transfer of its a Class A Unit and substitution of another Person as a Class A Member, or repurchase of such Class A Member's Units, pursuant to, and in compliance with, the provisions of this Article 11 of this Agreement.
(b) Removal. Any Member may immediately be removed of his interest in the Company if one or more of the following occur: any act of the Member involving fraud; embezzlement; or conviction, indictment or ongoing investigation (whether or not a final disposition the investigation has or has not yet been obtained) of a felony. In the event any of the aforementioned causes have occurred arising to the level of removing the Member, then such Members Capital Contribution shall be returned to the Member. The removal of a Member under this paragraph shall be in the Manager's sole discretion.

Section 9.03 Subsequent Holders of Class A Units. The terms and provisions of this Agreement shall be binding upon the holders of any Class A Units (including Financial Rights) purchased or otherwise acquired from any Member, and such subsequent holders of Class A Units shall become parties to this Agreement as Members by executing a counterpart hereof and any guaranty required by the lender to evidence such subsequent holder's guaranty amount. Furthermore, such subsequent holders of Class A Units that become parties to this Agreement as Members shall be bound to any and all documents, instruments, agreements and certificates which the Company determines, through the approval of the Class B Members holding a majority in interest of the Class B Units and the consent of the Class A Members holding a majority in interest of Class A Units, to be binding upon its members, including but not limited to any and all documents, instruments, agreements and certificates relating to or arising from all guaranties executed in connection therewith.

Section 9.04 Representations by the Class A Members. As a material inducement to the company to sell the Class A Units to the Class A Member, each Class A Member represents and warrants to the company and the other members as follows, and acknowledges that by signing this agreement or [a subscription agreement], he, she or it has read and understands the following:

(a) Investment Purpose. The Class A Member is acquiring the Class A Units for his, her or its own account, not as an agent or nominee, and not with a view to, or for sale in connection with, any distribution thereof in violation of applicable securities laws. the Class A Member further represents that he/she/it does not have any present contract, undertaking, understanding or arrangement with any person to sell, transfer or grant participations to such persons or any third person, with respect to the Class A Units.
(b) Reliance on Exemptions. The Class A Member understands that the Class A Units are being offered and sold to him/her/it in reliance on specific exemptions from the registration requirements of federal and state securities laws and that the company is relying in part upon the truth and accuracy of, and the Class A Member's compliance with the representations, warranties, agreements, acknowledgements and understandings of the Class A

25

Member set forth herein in order to determine the availability of the exemptions and the eligibility of the Class A Member to acquire the Class A Units.

(c) **Information.** The Class A Member and their advisors, if any, have been furnished with all materials relating to the business, finances and operations of the company and materials relating to the Class A Units which have been requested by the Class A Member and which are required under the 1933 act. The Class A Member and their advisors, if any, have been afforded the opportunity to ask questions of and to receive answers from the company's authorized representatives concerning the company, the picture, the company's business and prospects and the Class A Member has been permitted to have access to all information which him/her/it has requested in order to evaluate the merits and risks of the purchase of the Class A Units. The Class A Member has sought such legal and tax advice as him/her/it has considered necessary to make an informed investment decision with respect to his, her or its purchase of the Class A Units, and in determining to purchase Class A Units hereunder, the Class A Member is not relying on any representations of the company or any other member. The Class A Member is an investor in securities of companies in the development stage and acknowledges that him/her/it is able to fend for itself, can bear the economic risk of his, her or its investment, and has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the purchase of the Class A Units.

**Section 9.05 No Governmental Review.** The Class A Member understands that no arbitration board or panel, court or federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign has passed on or made any recommendation or endorsement of the Class A Units or the fairness or suitability of the investment in the Class A Units, nor have such authorities passed upon or endorsed the merits of the offering of the Class A Units.

**Section 9.06 Transfer or Resale.** The Class A Member understands that:

(a) The Class A Units have not been and are not being registered under the 1933 act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless subsequently registered thereunder, or in reliance on an available exemption from registration; and

(b) Neither the company nor any other person is under any obligation to register Class A Units under the 1933 act or any state securities laws or to comply with the terms and conditions of any exemption thereunder.

(c) The Class A Units may need to be held indefinitely, and the Class A Member must continue to bear the economic risk of the investment in the Class A Units unless the Class A Units are subsequently registered under the 1933 act or an exemption from such registration is available. When and if the Class A Units may be disposed of without registration in reliance on rule 144 promulgated under the 1933 act, such disposition can be made only in limited amounts in accordance with the terms and conditions of such rule, and the Class A Member must deliver an opinion of counsel to the company reasonably acceptable to the company in form, substance and scope to the effect that the Class A Units may be sold or transferred under an

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exemption from such registration, and if the rule 144 exemption is not available, public sale without registration will require compliance with an exemption under the 1933 act.

**Section 9.07 Risk of Investment.** The Class A Member is fully aware of the inherent risk of his, her or its investment in the company. The company's sole purpose is to invest in the production of the picture. This investment is extremely risky as are all investments in motion pictures. There is absolutely no certainty or guaranty that:

- (a) The picture can be completed;
- (b) The picture can be completed within the budget;
- (c) A distribution arrangement can be finalized for the picture;
- (d) A force majeure event will not occur which could prevent completion of the picture or cause the cost of completion of the picture to exceed the budget;
- (e) Any profits will be realized or any cash distributed to any member;
- (f) Or the picture will be successful. The Class A Member acknowledges that such member has read and understands the "risk factors".

**Section 9.08 Knowledge and Experience.** The Class A Member warrants that him/her/it has such knowledge and experience in financial, tax and business matters as to enable him/her/it to evaluate the merits and risks of his, her or its investment in the company and to make an informed investment decision with respect thereto.

**Section 9.09 Finders/Brokers.** The Class A Member has incurred no liability for commissions or other fees to any finder or broker in connection with the transactions contemplated by this agreement, the cost of which is in any part the liability of or payable by the company. The Class A Member has a pre-existing personal or business relationship with the company and/or any of its officers or controlling persons, or by his, her or its business or financial experience or the business or financial experience of its financial advisors who are unaffiliated with and who are not compensated by the company, directly or indirectly, could be reasonably assumed to have the capacity to protect his/her own interest in connection with the acquisition of the Class A Units. The Class A Member acknowledges that the offer and sale of the units was not accomplished by the publication of any advertisement.

**Section 9.10 Binding Agreement.** This Agreement is and will remain its valid and binding agreement, enforceable in accordance with its terms (subject, as to the enforcement of remedies, to any applicable bankruptcy, insolvency or other laws affecting the enforcement of creditor's rights).

**Section 9.11 Confidentiality.** Members shall not, at any time, disclose or submit to any person, firm, corporation or other entity all or any part of this agreement or any confidential or proprietary information or trade secrets (collectively referred to as "confidential information") of the company, its affiliates, subsidiaries, owners, officers, directors, employees or agents obtained or learned by members, including, without limitation, information about the company, its

27

investors, other members, any capital contributions, and/or any information regarding the picture other than to members' agents or representatives or as required by law. Members recognize and acknowledge that the confidential information of the company is a valuable, special, and unique asset of and belongs solely to the company.

## ARTICLE 1. DISSOLUTION, WINDING UP, AND TERMINATION OF THE COMPANY'S EXISTENCE

**Section 1.01 Term.** The Company shall have perpetual existence until dissolved and terminated as provided under this Agreement.

**Section 1.02 Winding Up Affairs on Dissolution.** Upon dissolution of the Company, the Manager or other Persons required or permitted by law to carry out the winding up of the affairs of the Company shall (a) promptly notify all Members of such dissolution, (b) wind up the affairs of the Company, (c) prepare and file all instruments or documents required by law to be filed to reflect the dissolution of the Company, and (d) after collecting the debts and obligations owed to the Company and after paying or providing for the payment of all liabilities and obligations of the Company, distribute the assets of the Company in accordance with Section 4.06 hereof.

**Section 1.03 Waiver of Right to Partition and Decree of Dissolution.** As a material inducement to each Member to execute this Agreement, each Member covenants and represents to each other Member that, during the period beginning on the date of this Agreement, no Member, nor such Member's heirs, representatives, successors, transferees or assigns, will attempt to make any partition whatever of the assets of the Company or any interest therein, whether now owned or hereafter acquired, and each Member waives all rights of partition provided by statute or principles of law or equity, including partition in kind or partition by sale. The Members agree that irreparable damage would be done to the goodwill and reputation of the Company if any Member should bring an action in any court to dissolve the Company. The Members agree that there are fair and just provisions for payment and liquidation of the interest of any Member in the Company, and fair and just provisions to prevent a Member from selling or otherwise alienating his or her interest in the Company. Accordingly, each Member hereby waives and renounces his or her right to such a court decree of dissolution or to seek the appointment by court of a liquidator or receiver for the Company.

## ARTICLE 2. GENERAL PROVISIONS

**Section 2.01 Notices.** Notice must be in writing except that oral notice is effective if it is reasonable under the circumstances and not otherwise prohibited by this Agreement. Notice may be communicated in person; by telephone, telegraph, teletype or other form of wire or wireless communication; or by mail or private carrier. If personal notice is impracticable, notice may be communicated by any means permitted by the Act. E-mailed notice is effective if electronic acceptance can be verified by a printout of such electronic acceptance or by other objective electronic means. Written notice by the Company to a Member is effective when mailed, if mailed postpaid and correctly addressed to the Member's address as reflected in the Company's records. Written notice to the Company may be addressed to the Company's Secretary at the Company's principal executive office. Written notice is effective at the earliest of the following: (i) when received; (ii) five (5) days after its deposit in the United States mail, if correctly addressed and

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first class postage affixed thereon; (iii) on the date shown in the return receipt, if sent by registered or certified mail, return receipt requested, and the receipt is signed by or on behalf of the addressee; or (iv) twenty (20) days after its deposit in the United States mail, as evidenced by the postmark if mailed correctly addressed, and with other than first class, registered or certified postage affixed. Oral notice is effective when communicated.

**Section 2.02 Integration.** This Agreement embodies the entire agreement and understanding among the Members and supersedes all prior agreements and understandings, if any, among and between the Members relating to the subject matter hereof.

**Section 2.03 Governing Law.** This Agreement and the rights of the Members shall be governed by and construed and enforced in accordance with the laws of the State of Mississippi and specifically the Act.

**Section 2.04 Severability.** In case any one or more of the provisions contained in this Agreement or any application thereof shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and any other application thereof shall not in any way be affected or impaired thereby.

**Section 2.05 Terminology.** All personal pronouns used in this Agreement, whether used in the masculine, feminine, or neuter, gender, shall include all other genders; and the singular shall include the plural, and vice versa. Titles and Articles are for convenience only and neither limit nor amplify the provisions of this Agreement itself.

**Section 2.06 Amendment.** This Agreement may be amended, modified or supplemented in writing (1) with the unanimous consent of all of the Members (Class A Members and Class B Members).

**Section 2.07 Execution of Additional Instruments.** Each Member hereby agrees to execute such other and further statements of interest and holdings, designations, powers of attorney and other instruments necessary to comply with any laws, rules or regulations.

**Section 2.08 Waivers.** The failure of any party to seek redress for violation of or to insist upon the strict performance of any covenant or condition of this Agreement shall not prevent a subsequent act, which would have originally constitute a violation, from having the effect of an original violation.

**Section 2.09 Rights and Remedies Cumulative.** The rights and remedies provided by this Agreement are cumulative and the use of any one right or remedy by any party shall not preclude or waive the right to sue any or all other remedies. Said rights and remedies are given in addition to any other rights the Members may have by law, statute, ordinance or otherwise.

**Section 2.10 Heirs, Successors and Assigns.** Each and all of the covenants, terms, provisions and agreements herein contained shall be binding upon and inure to the benefit of the Members hereto and to the extent permitted by this Agreement, their respective heirs, legal representatives, successors and assigns.

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**Section 2.11 Creditors.** None of the provisions of this Agreement shall be for the benefit of or enforceable by any creditors of the Company or by any creditor of a Member.

**Section 2.12 Counterparts.** This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.

**Section 2.13 Potential Conflicts.** The Class A Members each acknowledge that the Company's and Manager's counsel prepared this Agreement on behalf of and in the course of his representation of the Company and the Manager, as directed by the Manager, and that each such Class A Member has (a) been advised that a conflict may exist between his interests and those of the Company and the other Class A Members; (b) been advised by the Company's and Manager's counsel to seek the advice of independent counsel; (c) had the opportunity to seek the advice of independent counsel; (d) received no representations from the Company's and Manager's counsel about the tax consequences of this Agreement; (e) been advised by the Company's and Manager's counsel that this Agreement may have tax consequences; (f) been advised by the Company's and Manager's counsel to seek the advice of independent tax counsel; and (g) had the opportunity to seek the advice of independent tax counsel.

**IN WITNESS WHEREOF**, the undersigned hereby agree, acknowledge and certify that the foregoing Agreement constitutes the Operating Agreement of IRON LILLY, LLC, a Tennessee limited liability company, duly adopted by the Members of the Company as of the date first above written.

*[Signatures on following pages]*

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# CLASS A MEMBER SIGNATURE PAGE
TO OPERATING AGREEMENT OF
IRON LILLY, LLC

IN WITNESS WHEREOF, the undersigned hereby agrees as a Class A Member of the Company on this the 1st day of January, 2023.

CLASS B MEMBER

CITY OF PEACE FILMS, INC., a Tennessee corporation

By: Yochanan Marcellino
Name: Yochanan Marcellino
Title: President

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# EXHIBIT A
TO
OPERATING AGREEMENT OF
IRON LILLY, LLC

| Member's Name | Capital Contribution | Membership Percentage | Units |
| --- | --- | --- | --- |
| Class A Members |  |  |  |
|  | $ _____ | _____% | _____ |
| Class B Member |  |  |  |
| CITY OF PEACE FILMS, INC. | Development/ Production Services | 100% | 1,500 |
| Total | $ | 100% | 1,500 |

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Iron Lilly, LLC

**Legal Status:** Limited Liability Company

**Jurisdiction of Incorporation/Organization:** TN

**Date of Organization:** 08-29-2022

**Physical Address:** 1255 Honey Prong Road, Hartsville, TN, 37074

**Issuer Website:** http://ironlilly.com/

**Is there a Co-Issuer?:** Yes

**Intermediary Name:** Wefunder Portal LLC

**Intermediary CIK:** 0001670254

**Intermediary File Number:** 007-00033

**Intermediary CRD Number:** 283503

### Offering Information

**Compensation to Intermediary:** 6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

**Financial Interest in Issuer:** No

**Type of Security Offered:** Other

**Other Description of Security:** Class A Units (each a "Share" and, collectively, the "Shares" or "Securities")

**Number of Securities Offered:** 2352

**Price per Security:** $100.00

**Method for Determining Price:** Dividing post-money valuation $15,000,000.00 (or $12,750,000.00 for investors in the first $499,970.00) by number of units outstanding on fully diluted basis.

**Target Offering Amount:** $199,920.00

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** As determined by the issuer

**Maximum Offering Amount:** $4,999,970.00

**Deadline to Reach Target Amount:** 04-29-2024

### Annual Report Disclosure Requirements

**Current Number of Employees:** 2

**Total Assets (Most Recent Fiscal Year):** $17,653.00

**Total Assets (Prior Fiscal Year):** $0.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $17,653.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $0.00

**Accounts Receivable (Most Recent Fiscal Year):** $0.00

**Accounts Receivable (Prior Fiscal Year):** $0.00

**Short-Term Debt (Most Recent Fiscal Year):** $0.00

**Short-Term Debt (Prior Fiscal Year):** $0.00

**Long-Term Debt (Most Recent Fiscal Year):** $0.00

**Long-Term Debt (Prior Fiscal Year):** $0.00

**Revenues/Sales (Most Recent Fiscal Year):** $0.00

**Revenues/Sales (Prior Fiscal Year):** $0.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $0.00

**Cost of Goods Sold (Prior Fiscal Year):** $0.00

**Taxes Paid (Most Recent Fiscal Year):** $0.00

**Taxes Paid (Prior Fiscal Year):** $0.00

**Net Income (Most Recent Fiscal Year):** $-12,347.00

**Net Income (Prior Fiscal Year):** $0.00

**Jurisdictions Offered:**

ALABAMA, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING, B5, GU, PR, VI, 1V

### Signatures

**Issuer:** Iron Lilly, LLC

**Signature:** Yochanan Marcellino

**Title:** Producer

---

**Signature:** Yochanan Marcellino

**Title:** Producer

**Date:** 02-24-2023