Document:

Document

Exhibit 10.1

SERVICESOURCE INTERNATIONAL, INC.

____________________________________________________

2020 EQUITY INCENTIVE PLAN

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	TABLE OF CONTENTS	
		Page
	1. ESTABLISHMENT AND PURPOSE OF PLAN
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	2. DEFINITIONS
	1
	2.1 Defined Terms
	1
	2.2 Construction
	4

		
	3. PLAN ADMINISTRATION
	4

	3.1 Plan Administrator
	4

	3.2 Powers of the Administrator
	4

	3.3 Binding Determinations
	6

	3.4 Reliance on Experts
	6

	3.5 Delegation of Non-Discretionary Functions
	6

		
	4. SHARES OF COMMON STOCK SUBJECT TO THE PLAN; SHARE LIMIT
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	4.1 Shares of Common Stock Subject to the Plan; Share Limit
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	4.2 Counting of Shares
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	4.3 Reservation of Shares; No Fractional Shares
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	5. PARTICIPATION
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	6. AWARDS
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	6.1 Type and Form of Awards
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	6.1.1 Stock Options
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	6.1.2 Stock Appreciation Rights
	8

	6.1.3 Restricted Stock
	8

	6.1.4 Restricted Stock Units
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	6.1.5 Performance Stock Units
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	6.1.6 Cash Awards
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	6.1.7 Other Awards
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	6.2 Award Agreements
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	6.3 Deferrals and Settlements
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	6.4 Consideration for Common Stock or Awards
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	6.5 Minimum Vesting Schedule
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	6.6 Transfer Restrictions
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	6.6.1 Limitations on Exercise and Transfer
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	6.6.2 Exceptions
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	6.6.3 Further Exceptions to Limits on Transfer
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	6.7 International Awards
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	6.8 Dividend and Dividend Equivalents
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	7. EFFECT OF TERMINATION OF SERVICE ON AWARDS
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	7.1 Termination of Employment
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	7.1.1 Administrator Determination
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	7.1.2 General
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	7.1.3 Stock Options and SARs
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	7.2    Events Not Deemed Terminations of Service	12

	7.3 Change in Time Commitment
	13

	7.4 Effect of Change of Subsidiary Status
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	8. ADJUSTMENTS; ACCELERATION
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	8.1 Adjustments
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	8.2 Change in Control
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	9. TAX PROVISIONS
	14

	9.1 Tax Withholding
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	9.2 Requirement of Notification of Code Section 83(b) Election
	14

	9.3 Requirement of Notification of Disqualifying Disposition
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	10. OTHER PROVISIONS
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	10.1 Compliance with Laws
	14

	10.2 Future Awards/Other Rights
	15

	10.3 No Employment/Service Contract
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	10.4 Plan Not Funded
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	10.5 Effective Date, Termination and Suspension, Amendments
	15

	10.5.1 Effective Date and Termination
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	10.5.2 Amendment; Termination
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	10.5.3 Stockholder Approval
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	10.5.4 Amendments to Awards
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	10.5.5 Limitations on Amendments to Plan and Awards
	15

	10.6 Privileges of Stock Ownership
	16

	10.7 Governing Law; Severability; Construction
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	10.7.1 Choice of Law
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	10.7.2 Severability
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	10.7.3 Plan Construction
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	10.8 Stock-Based Awards in Substitution for Stock Options or Awards Granted by Other Corporation
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	10.9 Non-Exclusivity of Plan
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	10.10 No Corporate Action Restriction
	17

	10.11 Other Company Benefit and Compensation Programs
	17

	10.12 Restrictive Covenants; Cause Forfeiture; Clawback Policy
	17

	10.12.1 Restrictive Covenants
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	10.12.2 Annulment upon Termination for Cause
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	10.12.3 Awards Subject to Clawback	17

	10.13 Captions
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SERVICESOURCE INTERNATIONAL, INC.
2020 EQUITY INCENTIVE PLAN
Adopted by the Board on March 5, 2020
Approved by the Company’s stockholders on May 14, 2020
1.ESTABLISHMENT AND PURPOSE OF PLAN
ServiceSource International, Inc., a Delaware corporation (the “Company”), hereby establishes the ServiceSource International, Inc. 2020 Equity Incentive Plan (the “Plan”) as set forth in this document. The purpose of the Plan is to promote the success of the Company and to increase stockholder value by providing an additional means to attract, motivate, retain and reward selected employees, non-employee directors, and other eligible persons through the grant of equity and cash Awards that align the interests of Plan participants with the interests of the Company’s stockholders. 
2.DEFINITIONS
2.1 Defined Terms. As used in the Plan, the following capitalized terms shall have the meanings set forth below: 
a.“Administrator” shall mean the Board or one or more Committees appointed by the Board (or appointed by another Committee within that Committee’s delegated authority) to administer all or certain aspects of this Plan, as set forth in Section 3 hereof. 
b.“Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 of the General Rules and Regulations of the Exchange Act. 
c.“Award” shall mean any award granted under the Plan, including any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Stock Unit, cash Award, or Other Stock-Based Award. 
d.“Award Agreement” shall mean a written or electronic Award agreement between the Company and a Participant evidencing the grant of an Award under the Plan and containing the terms and conditions of such Award, as determined by the Administrator. 
e.“Board” shall mean the board of directors of the Company. 
f.“Cause” shall have the meaning ascribed to such term in any written agreement between the Participant and the Company or an Affiliate defining such term and, in the absence of such agreement, such term means, with respect to a Participant, the occurrence of any of the following events, in each case as determined by the Administrator: (i) Participant’s gross negligence or willful misconduct in connection with the performance of his or her duties; (ii) Participant’s conviction of, or a plea of nolo contendere to, a felony or a crime involving fraud or dishonesty under the laws of the United States or any state thereof; (iii) Participant’s performance of any act of theft, embezzlement, fraud, malfeasance, dishonesty or misappropriation of the Company’s property, or (iv) Participant’s material breach of any term of any employment, consulting or other services, confidentiality, intellectual property or non-competition agreement, if any, between the Participant and the Company. Any determination by the Administrator whether an event constituting Cause has occurred will be final, binding and conclusive. For purposes of this definition, the term “Company” shall be interpreted to include any Subsidiary, Affiliate or parent of the Company, as appropriate.
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g.“Change in Control” shall mean the occurrence of any of the following events: 
1.the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection 1., the acquisition of additional securities by any one Person, who is already considered to beneficially own more than fifty percent (50%) of the Outstanding Company Voting Securities, will not be considered a Change in Control; or 
2.a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 
3.A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 
For purposes of this definition, Persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company
If the occurrence of a Change in Control is a payment event for an Award that is “non-qualified deferred compensation” subject to Code Section 409A, then a Change in Control will be deemed to have occurred only if the transaction is also a “change in ownership or effective control of” the Company or a “change in the ownership of a substantial portion of the assets of” the Company as determined under Treasury Regulation Section 1.409A-3(i)(5).
h. “Code” shall mean the Internal Revenue Code of 1986, as amended. 
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i.“Committee” shall mean the compensation committee of the Board, or such other Committee of the Board to which administration of the Plan, or a part of the Plan, has been duly delegated as permitted by applicable law and in accordance with the Plan. 
j.“Common Stock” shall mean the common stock of the Company, par value $0.0001 per share, and such other securities or property as may become the subject of Awards under this Plan pursuant to an adjustment made under Section 8.1.
k.“Company” shall mean ServiceSource International, Inc., a Delaware corporation. 
l.“Disability” shall mean total and permanent disability as defined in Section 22(e)(3) of the Code; provided that, if the occurrence of a Disability is a payment event for an Award that is “non-qualified deferred compensation” subject to Code Section 409A, then a Disability will be deemed to have occurred only if the Participant’s condition also qualifies as a “disability” for purposes of Code Section 409A. 
m.“Effective Date” shall mean the date on which this Plan is approved by the stockholders of the Company. 
n.“Eligible Person” shall mean any person who is either: (a) an officer (whether or not a director) or employee of the Company or one of its Subsidiaries or (b) a non-employee director of the Company or one of its Subsidiaries. 
o.“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
p.“Fair Market Value” shall mean the fair market value of a share of Common Stock as of a particular date, determined as follows: (i) if the Common Stock is then listed on a national securities exchange of national market system, the closing sale price for such share of Common Stock for the last market trading day prior to the particular date for which Fair Market Value is being determined, as reported on the national securities exchange or national market system on which such stock is principally traded, or (ii) if the shares of Common Stock are not then listed on a national securities exchange or national market system, or the value of such shares is not otherwise determinable, such value as determined by the Committee in good faith in its sole discretion consistent with the requirements under Section 409A of the Code. 
q.“Incentive Stock Option” or “ISO” shall mean an Option that is intended to comply with the requirements of Section 422 of the Code. 
r.“Non-Qualified Stock Option” shall mean an Option that is not intended to comply with the requirements of Section 422 of the Code. 
s.“Option” shall mean a right to purchase a specified number of shares of Common Stock during a specified period at a fixed exercise price as determined by the Administrator, granted pursuant to Section 6.1.1. 
t.“Other-Stock Based Award” shall mean a stock-based Award issued pursuant to Section 6.1.7. 
u.“Participant” shall mean any Eligible Person that has been issued an Award under the Plan. 
v.“Performance Stock Unit” or “PSU” shall mean an Award evidencing the right to receive shares of Common Stock or equivalent value (as determined by the Administrator) based on the attainment of certain performance goals, issued pursuant to Section 6.1.5. 
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w.“Plan” shall have the meaning set forth in Section 1 hereof. 
x.“Prior Plan” shall mean the ServiceSource International, Inc. 2011 Equity Incentive Plan, as amended.
y.“Restricted Stock” shall mean shares of Common Stock that are subject to forfeiture and restrictions on transferability, issued pursuant to Section 6.1.3. 
z.“Restricted Stock Unit” or “RSU” shall mean a unit evidencing the right to receive one share of Common Stock or equivalent value (as determined by the Administrator) that is restricted or subject to forfeiture provisions, issued pursuant to Section 6.1.4. 
aa.“Section 409A” shall mean section 409A of the Code and related Treasury regulations and guidance promulgated thereunder. 
ab.“Securities Act” shall mean the Securities Act of 1933, as amended. 
ac.“Share Limit” shall have the number of shares available for issuance under the Plan as set forth in Section 4.1. 
ad.“Stock Appreciation Right” or “SAR” shall mean a right to receive the appreciation value on the shares of Common Stock subject to the Award, issued pursuant to Section 6.1.2. 
ae.“Subsidiary” shall mean any corporation (other than the Company) or other entity controlled by the Company directly or indirectly though one or more intermediaries. 
2.2 Construction. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine, the plural shall include the singular, and the singular shall include the plural. 
3.PLAN ADMINISTRATION    
3.1 Plan Administrator. This Plan shall be administered by, and all Awards under this Plan shall be authorized by, the Administrator. Any Committee appointed by the Board to act as the Administrator shall be comprised solely of one or more directors or such other number of directors as may be required under applicable law and the rules of any applicable stock exchange. A Committee may delegate some or all of its authority to another Committee so constituted. The Board or a Committee comprised solely of directors may also delegate, to the extent permitted by applicable law and the rules of any applicable stock exchange, to one or more officers of the Company, its powers under this Plan (a) to determine the Eligible Persons who will receive grants of Awards under this Plan, and (b) to determine the number of shares subject to, and the other terms and conditions of, such Awards. The Board may delegate different levels of authority to different Committees with administrative and grant authority under this Plan. Unless otherwise provided in the bylaws of the Company or the applicable charter of any Administrator: (a) a majority of the members of the acting Administrator shall constitute a quorum, and (b) the affirmative vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent of the members of the Administrator shall constitute due authorization of an action by the acting Administrator. 
Grants of Awards, and transactions in or involving Awards, intended to be exempt under Rule 16b-3 under the Exchange Act, must be duly and timely authorized by the Board or a Committee consisting solely of two or more non-employee directors (as this requirement is applied under Rule 16b-3 promulgated under the Exchange Act). Awards granted to non-employee directors shall not be subject to the discretion of any officer or employee of the Company and shall be administered exclusively by the Board or a Committee consisting solely of independent directors. 
3.2 Powers of the Administrator. Subject to the express provisions of this Plan, the Administrator is authorized and empowered to do all things deemed necessary or desirable in connection with the authorization of Awards and the administration of this Plan (in the case of a delegation to a Committee or 
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one or more officers, within the authority delegated to that Committee or person(s)), including, without limitation, the authority to: 
a.determine eligibility and, from among those persons determined to be eligible, the particular Eligible Persons who will receive Awards under this Plan; 
b.grant Awards to Eligible Persons, determine the type of Awards to be granted, the price at which securities will be offered or awarded and the number of securities to be offered or awarded to any of such persons, determine the other specific terms and conditions of such Awards consistent with the express limits of this Plan, establish the installments (if any) in which such Awards shall become exercisable or shall vest (which may include, without limitation, performance and/or time-based schedules), or determine that no delayed exercisability or vesting is required, establish any applicable performance targets, and establish the events of termination or reversion of such Awards; 
c.approve the forms of Award Agreements (which need not be identical either as to type of Award or among Participants); 
d.construe and interpret this Plan and any Award Agreements defining the rights and obligations of the Company, its Subsidiaries, and Participants under this Plan, further define the terms used in this Plan, and prescribe, amend and rescind rules and regulations relating to the administration of this Plan or the Awards granted under this Plan;
e.cancel, modify, or waive the Company’s rights with respect to, or modify, discontinue, suspend, or terminate any or all outstanding Awards, subject to any required consent under Section 10.5.5; 
f.extend the vesting or exercisability or extend the term of any or all outstanding Awards (in the case of Options or Stock Appreciation Rights, within the maximum ten (10)-year term of such Awards) in such circumstances as the Administrator may deem appropriate (including, without limitation, in connection with a termination of employment or services or other events of a personal nature) subject to any required consent under Section 10.5.5; 
g.adjust the number of shares of Common Stock subject to any Award, adjust the price of any or all outstanding Awards or otherwise change previously imposed terms and conditions, in such circumstances as the Administrator may deem appropriate, in each case subject to compliance with applicable stock exchange requirements, Sections 4 and 10.5.5, and provided that in no case (except due to an adjustment contemplated by Section 8) shall the terms of any outstanding Awards be amended (by amendment, cancellation and regrant, or other means) to reduce the per share exercise or base price of any outstanding Option or Stock Appreciation Right or other Award granted under this Plan, or be exchanged for cash, other Award or Option or Stock Appreciation Right with an exercise price that is less than the per share exercise price of the original Option or Stock Appreciation Right, without stockholder approval, and further provided that any adjustment or change in terms made pursuant to this Section 3.2(g) shall be made in a manner that, in the good faith determination of the Administrator will not likely result in the imposition of additional taxes or interest under Section 409A; 
h.determine the date of grant of an Award, which may be a designated date after but not before the date of the Administrator’s action (unless otherwise designated by the Administrator, the date of grant of an Award shall be the date upon which the Administrator took the action granting an Award); 
i.determine whether, and the extent to which, adjustments are required pursuant to Section 8 hereof and authorize the termination, conversion, substitution, acceleration 
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or succession of Awards upon the occurrence of an event of the type described in Section 8; 
j.acquire or settle rights under Awards in cash, stock of equivalent value, or other consideration, subject to the provision of the Plan; and 
k.determine the Fair Market Value of the Common Stock or Awards under this Plan from time to time and/or the manner in which such value will be determined. 
Notwithstanding anything in this Section to the contrary, in no event shall the Administrator be authorized to accelerate the vesting of any Award under the Plan except upon the death or Disability of the Participant.

3.3 Binding Determinations. Any action taken by, or inaction of, the Company, any Subsidiary, or the Administrator relating or pursuant to this Plan and within its authority hereunder or under applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. Neither the Board, the Administrator, nor any Committee, nor any member thereof or person acting at the direction thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan (or any Award made under this Plan), and all such persons shall be entitled to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, legal fees) arising or resulting therefrom to the fullest extent permitted by law. The foregoing right of indemnification shall be in addition to any right of indemnification set forth in the Company’s certificate of incorporation and bylaws, as the same may be amended from time to time, or under any directors and officers liability insurance coverage or written indemnification agreement with the Company that may be in effect from time to time. 
3.4 Reliance on Experts. In making any determination or in taking or not taking any action under this Plan, the Administrator may obtain and may rely upon the advice of experts, including professional advisors to the Company. The Administrator shall not be liable for any such action or determination taken or made or omitted in good faith based upon such advice. 
3.5 Delegation of Non-Discretionary Functions. In addition to the ability to delegate certain grant authority to officers of the Company as set forth in Section 3.1, the Administrator may also delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Company or any of its Subsidiaries or to third parties.
4.SHARES OF COMMON STOCK SUBJECT TO THE PLAN; SHARE LIMIT    
4.1 Shares of Common Stock Subject to the Plan; Share Limit. Subject to the adjustment as provided in Sections 8.1 and 10.9, the maximum number of shares of Common Stock available for issuance under the Plan will be equal to 6,200,000, all of which may be granted, in the sole discretion of the Administrator, as Incentive Stock Options. Common Stock issued under the Plan shall be either authorized but unissued shares of Common Stock or, to the extent permitted, shares of Common Stock that have been reacquired by the Company or any Subsidiary. 
4.2 Counting of Shares. The Administrator may adopt reasonable counting procedures to ensure appropriate counting and to avoid double counting (as, for example, in the case of tandem or substitute Awards) as it may deem necessary or desirable in its sole discretion. Shares shall be counted against those reserved to the extent shares have been delivered pursuant to an Award and are no longer subject to a substantial risk of forfeiture. Accordingly, to the extent that an Award under the Plan, in whole or in part, is canceled, expired, forfeited, settled in cash, or otherwise terminated without delivery of shares of Common Stock to the Participant, the shares of Common Stock retained by or returned to the Company will not be deemed to have been delivered under the Plan, as applicable, and will be deemed to remain or become available under this Plan.  Notwithstanding the foregoing, shares of Common Stock that are withheld from such an Award or separately surrendered by the Participant in payment of the exercise price or taxes relating to such an Award, and the total number of shares subject to the exercised portion of a stock-settled SAR (regardless of the actual lesser of number shares delivered to the Participant), shall be deemed to have been issued hereunder and shall reduce the number of shares of Common Stock remaining available for issuance under the Plan. 
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4.3 Reservation of Shares; No Fractional Shares. The Company shall at all times reserve a number of shares of Common Stock sufficient to cover the Company’s obligations and contingent obligations to deliver shares with respect to Awards then outstanding under this Plan (exclusive of any dividend equivalent obligations to the extent the Company has the right to settle such rights in cash). No fractional shares shall be delivered under this Plan. The Administrator may pay cash in lieu of any fractional shares in settlements of Awards under this Plan. 
5.PARTICIPATION   
The Administrator may grant Awards under this Plan only to those persons that the Administrator determines to be Eligible Persons. The Administrator shall, in its sole and absolute discretion, select from among the Eligible Persons those individuals who shall receive Awards and become Participants under the Plan. There is no right of any Eligible Person to receive an Award under the Plan, and the Administrator has absolute discretion to treat Eligible Persons differently from one another under the Plan. Receipt of an Award by a Participant shall not create the right to receive future Awards under the Plan, but a Participant who has been granted an Award may, if otherwise eligible, be granted additional Awards if the Administrator shall so determine. 
6.AWARDS    
6.1 Type and Form of Awards. The Administrator shall determine the type or types of Award(s) to be made to each selected Eligible Person. Awards may be granted singly, in combination or in tandem. Awards may also be made in combination or in tandem with, in replacement of, as alternatives to, or as the payment form for grants or rights under any other employee or compensation plan of the Company or its Subsidiaries. The types of Awards that may be granted under this Plan are: 
6.1.1 Stock Options.
a.General Option Provisions.  Options may only be granted to Eligible Persons for whom the Company would be deemed to be an “eligible issuer of service recipient stock,” as defined in Treasury Regulation 1.409A-1(b)(5)(iii)(E). An Option may be intended to be an Incentive Stock Option or a Non-Qualified Stock Option. The Award Agreement for an Option will indicate if the Option is intended to be an ISO or an Non-Qualified Stock Option. The maximum term of each Option (whether an ISO or a Non-Qualified Stock Option) shall be ten (10) years. The per share exercise price for each Option shall be not less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date of grant of the Option. Each Option shall become exercisable at such times and under such conditions and shall be subject to such other terms as may be determined by the Administrator in its discretion. When an Option is exercised, the exercise price for the shares underlying such Option shall be paid in full in cash or such other method permitted by the Administrator consistent with Section 6.4. 
b.Additional Rules Applicable to ISOs.  Notwithstanding the general Option rules set forth in Section 6.1.1(a), the following rules shall apply to Options intended to qualify as ISOs. ISOs may only be granted to employees of the Company or its Subsidiaries (for this purpose, the term “subsidiary” is as defined in Section 424(f) of the Code, which generally requires an unbroken chain of ownership of at least fifty percent (50%) of the total combined voting power of all classes of stock of each subsidiary in the chain beginning with the Company and ending with the subsidiary in question). To the extent that the aggregate Fair Market Value (determined at the time of grant of the applicable Option) of shares of Common Stock with respect to which ISOs first become exercisable by a Participant in any calendar year exceeds $100,000, taking into account both Common Stock subject to ISOs under this Plan and stock subject to ISOs under all other plans of the Company or its Subsidiaries (or any parent or predecessor corporation to the extent required by and within the meaning of Section 422 of the Code and the regulations promulgated thereunder), such Options shall be treated as Non-Qualified Stock Options. In reducing the number of Options treated as ISOs to meet the $100,000 limit, the most recently granted Options shall be reduced first. To the extent a reduction of simultaneously granted Options is 
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necessary to meet the $100,000 limit, the Administrator may, in the manner and to the extent permitted by law, designate which shares of Common Stock are to be treated as shares acquired pursuant to the exercise of an ISO. An Award Agreement relating to ISOs may contain such other terms and conditions as from time to time are required in order for the Option to be considered an “incentive stock option,” as that term is defined in Section 422 of the Code. No ISO may be granted to any person who, at the time the Option is granted, owns (or is deemed to own under Section 424(d) of the Code) shares of outstanding Common Stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, unless the exercise price of such option is at least one hundred and ten percent (110%) of the Fair Market Value of the stock subject to the Option and the term of such Option does not exceed five (5) years from the date such Option is granted. 
6.1.2 Stock Appreciation Rights. A SAR is an Award that entitles the Participant to receive, upon exercise of the SAR, a payment in cash and/or Common Stock, or a combination of the two, equal to (or having a Fair Market Value equal to) the product of (x) number of SARs being exercised multiplied by (y) the excess of (i) the Fair Market Value of a share of Common Stock on the date the SAR is exercised, over (ii) the “base price” applicable to the SAR. SARs may only be granted to Eligible Persons for whom the Company would be deemed to be an “eligible issuer of service recipient stock,” as defined in Treasury Regulation 1.409A-1(b)(5)(iii)(E). The base price of the SAR shall be determined by the Administrator but shall be not less than the Fair Market Value of the Company’s Common Stock on the date of grant. The maximum term of a SAR shall be ten (10) years. SARs shall become exercisable at such times and under such conditions and shall be subject to such other terms as may be determined by the Administrator in its discretion consistent with the terms and conditions of the Plan. 
6.1.3 Restricted Stock.
a.General Restricted Stock Provisions.  Restricted Stock is Common Stock subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Administrator may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance goals and/or future service requirements), in such installments or otherwise, as the Administrator may determine at the date of grant or thereafter. Except to the extent restricted under the terms of this Plan and the applicable Award Agreement relating to the Restricted Stock, a Participant granted Restricted Stock shall have all of the rights of a stockholder of the Company, including the right to vote the Restricted Stock and the right to receive dividends thereon (subject to the provisions of Section 6.1.3(c) and Section 6.8). 
b.Certificates for Shares.  Shares of Restricted Stock granted under this Plan may be evidenced in such manner as the Administrator shall determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Administrator may require that such certificates bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in blank, relating to the Restricted Stock. The Administrator may require that shares of Restricted Stock are held in escrow until all restrictions lapse. 
c.Dividends and Splits.  As a condition to the grant of an Award of Restricted Stock, any cash dividends paid on shares of Restricted Stock and any stock distributed in connection with a stock split or stock dividend, and any other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such dividend or distribution was made. In addition, and subject to applicable law, the Administrator may require or permit a Participant to elect that any cash dividends paid on Restricted Stock be automatically reinvested in additional shares of Restricted Stock or applied to the purchase of additional Awards under this Plan, subject to the same vesting schedule as the Restricted Stock to which the dividend relates. 

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6.1.4 Restricted Stock Units.
a.Grant of Restricted Stock Units.  An RSU represents the right to receive from the Company on the relevant scheduled vesting or payment date for such RSU, one share of Common Stock or, if specified in the applicable Award Agreement, the Fair Market Value of one share of Common Stock paid in cash. The vesting or payment of an Award of RSUs may be subject to the attainment of specified performance goals or targets, forfeitability provisions and such other terms and conditions as the Administrator may determine, subject to the provisions of this Plan. 
b.Dividend Equivalent Accounts.  If (and only if) required by the applicable Award Agreement, prior to the expiration of the applicable vesting period of an RSU, the Administrator shall provide dividend equivalent rights with respect to RSUs, in which case the Company shall establish an account for the Participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the shares of Common Stock underlying each RSU. Each amount or other property credited to any such account shall be subject to the same vesting conditions as the RSU to which it relates. In addition, subject to applicable law, the Administrator may require or permit a Participant to elect that any such dividend equivalent amounts credited to the Participant’s account be automatically deemed reinvested in additional RSUs or applied to the purchase of additional Awards under the Plan, subject to the same vesting schedule as the RSUs to which the dividend equivalent amounts relate. The Participant shall be paid the amounts or other property credited to such dividend equivalent account at the same time as payment of the RSU. 
c.Rights as a Stockholder.  Subject to the restrictions imposed under the terms and conditions of this Plan and the applicable Award Agreement, each Participant receiving RSUs shall have no rights as a stockholder of the Company with respect to such RSUs until such time as shares of Common Stock are issued to the Participant. In the event an RSU is settled in cash, the Participant receiving RSUs shall never receive stockholder rights with respect to such Award. No shares of Common Stock shall be issued at the time an RSU is granted, and the Company will not be required to set aside funds for the payment of any such Award. 
6.1.5 Performance Stock Units.
a.Grant of Performance Stock Units.  A PSU is a performance-based Award that entitles the Participant to receive shares of Common Stock or, if specified in the Award Agreement, the Fair Market Value of such shares of Common Stock paid in cash, based on the attainment of one or more performance goals. Each Award of PSUs shall designate a target number of PSUs covered by the Award, with the actual number of shares of Common Stock earned (if any) to be based on a formula set forth in the Award Agreement related to the attainment of one or more performance goals set forth in the Award Agreement. 
b.Dividend Equivalent Accounts.  If (and only if) required by the applicable Award Agreement, the Administrator shall pay dividend equivalent rights with respect to PSUs, in which case a Participant shall be entitled to a cash payment with respect to each PSU earned and payable in an amount based on the ordinary cash dividends that would have been payable to the Participant had the Participant been the owner of a number of actual shares of Common Stock equal to the number of PSUs earned, from the date of grant of the PSU Award through the date the PSU is paid. If so determined by the Administrator and set forth in the applicable Award Agreement, such cash amount may be credited with earnings or losses as if deemed reinvested in Common Stock or as if used to purchase additional Awards under the Plan. The amount payable shall be made in a single lump sum on the date on which payment is made in respect of the related PSUs. 
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c.Rights as a Stockholder.  Subject to the restrictions imposed under the terms and conditions of this Plan and the applicable Award Agreement, each Participant receiving PSUs shall have no rights as a stockholder of the Company with respect to such PSUs until such time as shares of Common Stock are issued to the Participant. In the event a PSU is settled in cash, the Participant receiving PSUs shall never receive stockholder rights with respect to such Award. No shares of Common Stock shall be issued at the time a PSU is granted, and the Company will not be required to set aside funds for the payment of any such Award. 
6.1.6 Cash Awards. The Administrator may, from time to time, subject to the provisions of the Plan and such other terms and conditions as it may determine, grant cash bonuses (including without limitation, discretionary Awards, Awards based on objective or subjective performance criteria, Awards subject to other vesting criteria or Awards granted consistent with Section 6.1.7 below). Cash Awards may be awarded in such amount and at such times during the term of the Plan as the Administrator shall determine. 
6.1.7 Other Awards. The other types of Awards that may be granted under this Plan include: (a) stock bonuses or similar rights to purchase or acquire shares, whether at a fixed or variable price or ratio related to the Common Stock (subject to compliance with applicable laws), upon the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other conditions, or any combination thereof; or (b) any similar securities or rights with a value derived from the value of, or related to, the Common Stock and/or returns thereon. 
6.2 Award Agreements. Each Award (other than cash Awards described in Section 6.1.6) shall be evidenced by a written or electronic Award Agreement in the form approved by the Administrator and, if required by the Administrator, executed or accepted by the recipient of the Award. The Administrator may authorize any officer of the Company (other than the particular Award recipient) to execute any or all Award Agreements on behalf of the Company (electronically or otherwise). The Award Agreement shall set forth the material terms and conditions of the Award as established by the Administrator consistent with the express limitations of this Plan. 
6.3 Deferrals and Settlements. Except as otherwise set forth herein, payment of Awards may be in the form of cash, Common Stock, other Awards or combinations thereof as the Administrator shall determine, and with such restrictions as it may impose. The Administrator may also require or permit Participants to elect to defer the issuance of shares of Common Stock or the settlement of Awards in cash under such rules and procedures as it may establish under this Plan. The Administrator may also provide that deferred settlements include the payment or crediting of interest or other earnings on the deferral amounts, or the payment or crediting of dividend equivalents where the deferred amounts are denominated in shares. All mandatory or elective deferrals of the issuance of shares of Common Stock or the settlement of Awards in cash shall be structured in a manner that is intended to comply with, or be exempt from, the requirements of Section 409A of the Code. 
6.4 Consideration for Common Stock or Awards. The purchase price for any Award granted under this Plan or the Common Stock to be delivered pursuant to an Award, as applicable, may be paid by means of any lawful consideration as determined by the Administrator and subject to compliance with applicable laws, including, without limitation, one or a combination of the following methods: 
(i)services rendered by the recipient of such Award; 
(ii)cash, check payable to the order of the Company, or electronic funds transfer; 
(iii)notice and third-party payment in such manner as may be authorized by the Administrator; 
(iv)the delivery of previously owned shares of Common Stock that are fully vested and unencumbered; 
(v)by a reduction in the number of shares otherwise deliverable pursuant to the Award; or 
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(vi)subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with an approved broker or dealer who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of Awards. 
In the event that the Administrator allows a Participant to exercise an Award by delivering shares of Common Stock previously owned by such Participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially acquired by the Participant from the Company (upon exercise of an Option or otherwise) must have been owned by the Participant at least six (6) months as of the date of delivery (or such other period as may be required by the Administrator in order to avoid adverse accounting treatment). Shares of Common Stock used to satisfy the exercise price of an Option shall be valued at their Fair Market Value on the date of exercise. The Company will not be obligated to deliver any shares with respect to any Award unless and until it receives full payment of the exercise or purchase price therefor and any related withholding amounts under Section 9.1, and any other conditions to exercise or purchase, as established from time to time by the Administrator, have been satisfied. Unless otherwise expressly provided in the applicable Award Agreement, the Administrator may at any time eliminate or limit a Participant’s ability to pay the purchase or exercise price of any Award by any method other than cash payment to the Company. 
6.5 Minimum Vesting Schedule. Except as provided below, all Awards granted under the Plan shall have a minimum one (1) year cliff vesting schedule meaning that no portion of any Award may be scheduled to vest prior to one (1) year after the date of grant of such Award. Notwithstanding the foregoing, up to five percent (5%) of the total number of shares of Common Stock authorized by the Board and the stockholders for issuance under the Plan may be granted pursuant to Awards not subject to the minimum vesting schedule described above. The Administrator may adopt reasonable counting procedures to determine whether the five percent (5%) limit in the preceding sentence has been attained. 
6.6 Transfer Restrictions.
6.6.1 Limitations on Exercise and Transfer. Unless otherwise expressly provided in (or pursuant to) this Section 6.6, by applicable law or by an Award Agreement, as the same may be amended, (a) all Awards are non-transferable by the Participant and shall not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge; (b) Awards shall be exercised only by the Participant; and (c) amounts payable or shares issuable pursuant to any Award shall be delivered only to (or for the account of) the Participant. 
6.6.2 Exceptions. The Administrator may permit Awards to be exercised by and paid to, or otherwise transferred to, other persons or entities pursuant to such conditions and procedures, including limitations on subsequent transfers, as the Administrator may, in its sole discretion, establish in writing (provided that any such transfers of ISOs shall be limited to the extent permitted under the federal tax laws governing ISOs). Any permitted transfer shall be subject to compliance with applicable federal and state securities laws. 
6.6.3 Further Exceptions to Limits on Transfer. The exercise and transfer restrictions in Section 6.6.1 shall not apply to: 
a.transfers to the Company,
b.the designation of a beneficiary to receive benefits in the event of the Participant’s death or, if the Participant has died, transfers to or exercise by the Participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution, 
c.subject to any applicable limitations on ISOs, transfers to a family member (or former family member) pursuant to a domestic relations order if approved or ratified by the Administrator, 
d.subject to any applicable limitations on ISOs, if the Participant has suffered a Disability, permitted transfers or exercises on behalf of the Participant by his or her legal representative, or 
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e.the authorization by the Administrator of “cashless exercise” procedures with approved brokers or dealers who provide financing for the purpose of (or who otherwise facilitate) the exercise of Awards consistent with applicable laws and the express authorization of the Administrator. 
6.7 International Awards. One or more Awards may be granted to Eligible Persons who provide services to the Company or one of its Subsidiaries outside of the United States. Any Awards granted to such persons may, if deemed necessary or advisable by the Administrator, be granted pursuant to the terms and conditions of any applicable sub-plans, if any, appended to this Plan and approved by the Administrator. 
6.8 Dividend and Dividend Equivalents. Notwithstanding anything to the contrary herein, in no event may accrued dividends or dividend equivalents with respect to any Award issued under the Plan be paid prior to the vesting of the Award to which they relate. 
7.EFFECT OF TERMINATION OF SERVICE ON AWARDS    
7.1 Termination of Employment.
7.1.1 Administrator Determination. The Administrator shall establish the effect of a termination of employment or service on the rights and benefits under each Award under this Plan and in so doing may make distinctions based upon, inter alia, the cause of termination and type of Award. If the Participant is not an employee of the Company or one of its Subsidiaries and provides other services to the Company or one of its Subsidiaries, the Administrator shall be the sole judge for purposes of this Plan (unless a contract or the Award Agreement otherwise provides) of whether the Participant continues to render services to the Company or one of its Subsidiaries and the date, if any, upon which such services shall be deemed to have terminated. 
7.1.2 General. For any Award issued under the Plan, unless the Award Agreement provides otherwise, the portion of such Award that is unvested at the time that a Participant’s employment or service is terminated for any or no reason shall be forfeited and reacquired by the Company; provided however, that the Administrator may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that such forfeiture requirement shall be waived in whole or in part.
7.1.3 Stock Options and SARs. For Awards of Options or SARs, unless the Award Agreement provides otherwise, the exercise period of such Options or SARs shall expire: 
a.three (3) months after the last day that the Participant is employed by, or provides services to, the Company or its Subsidiaries (provided however, that in the event of the Participant’s death during this period, those persons entitled to exercise the Option or SAR pursuant to the laws of descent and distribution shall have one (1) year following the date of the Participant’s death within which to exercise such Option or SAR); 
b.twelve (12) months after the last day that the Participant is employed by, or provides services to, the Company or a Subsidiary in the case of a Participant whose termination of employment or service is due to death or Disability; and 
c.immediately upon a Participant’s termination for Cause. 
The Administrator will, in its absolute discretion, determine the effect of all matters and questions relating to a termination of a Participant’s employment or service, including, but not limited to, the question of whether a leave of absence constitutes a termination of employment or service and whether a Participant’s termination is for Cause. 
7.2 Events Not Deemed Terminations of Service. Unless the express policy of the Company or any of its Subsidiaries or the Administrator otherwise provides, the employment relationship shall not be considered terminated in the case of (a) sick leave, (b) military leave, or (c) any other paid leave of absence authorized by the Company or one of its Subsidiaries, or the Administrator. In the case of any 
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employee of the Company or one of its Subsidiaries on an approved leave of absence, continued vesting of the Award while on leave from the employ of the Company or one of its Subsidiaries may be suspended until the employee returns to service, unless the Administrator otherwise provides or applicable law otherwise requires. In no event shall an Award be exercised after the expiration of the term set forth in the Award Agreement.
7.3 Change in Time Commitment. In the event a Participant’s regular level of time commitment in the performance of his or her services for the Company or any Subsidiaries is reduced (for example, and without limitation, if the Participant is an employee of the Company and the Participant has a change in status from full-time to part-time or takes an extended leave of absence) after the date of grant of any Award, the Administrator, in its sole discretion, may (a) make a corresponding reduction in the number of shares or cash amount subject to any portion of such Award that is scheduled to vest or become payable after the date of such change in time commitment, and (b) in lieu of or in combination with such a reduction, extend the vesting schedule applicable to such Award (in accordance with Section 409A, as applicable). In the event of any such reduction, the Participant will have no right with respect to any portion of the Award that is so amended.
7.4 Effect of Change of Subsidiary Status. For purposes of this Plan and any Award, if an entity ceases to be a Subsidiary of the Company, a termination of employment or service shall be deemed to have occurred with respect to each Eligible Person in respect of such Subsidiary who does not continue as an Eligible Person in respect of the Company or another Subsidiary that continues as such after giving effect to the transaction or other event giving rise to the change in status. 
8.ADJUSTMENTS; ACCELERATION    
8.1 Adjustments. Upon or in contemplation of (a) any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend) or reverse stock split, (b) any merger, arrangement, combination, consolidation, or other reorganization, (c) any spin-off, split-up, or similar extraordinary dividend distribution in respect of the Common Stock (whether in the form of securities or property), or (d) any exchange of Common Stock or other securities of the Company, or any similar unusual or extraordinary corporate event or transaction affecting the Common Stock, the Administrator shall in such manner, to such extent and at such time as it deems appropriate and equitable in the circumstances (but subject to compliance with applicable laws and stock exchange requirements) proportionately adjust any or all of (1) the number and type of shares of Common Stock (or other securities) that thereafter may be made the subject of Awards (including the Share Limit and the limit on the number of ISOs issuable under the Plan), (2) the number, amount and type of shares of Common Stock (or other securities or property) subject to any or all outstanding Awards, (3) the grant, purchase or exercise price (which term includes the base price of any SAR or similar right) of any or all outstanding Awards, and (4) the securities, cash or other property deliverable upon exercise or payment of any outstanding Awards. Any adjustment made pursuant to this Section 8.1 shall be made in a manner that, in the good faith determination of the Administrator, will not likely result in the imposition of additional taxes or interest under Section 409A of the Code. With respect to any Award of an ISO, the Administrator may make an adjustment that causes the Option to cease to qualify as an ISO without the consent of the affected Participant. Any determinations made by the Administrator pursuant to this Section 8.1 shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of Common Stock of any class, or securities convertible into shares of Common Stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Award.
8.2 Change in Control.  In the event of a Change in Control, the Administrator shall provide for the assumption or substitution of all outstanding Awards by the surviving or acquiring company or parent thereof, in a manner designed to comply with Section 409A of the Code.  All assumed or substituted time-vested Awards shall continue to vest in accordance with their original vesting terms; provided, however, that in the event the Participant is terminated without Cause within 12 months following the Change in Control, any then unvested portion of the Award shall vest in full.  All assumed or substituted performance-vested Awards shall be measured on the date of the Change in Control to determine the portion thereof that is earned based on performance through the Change in Control, and the earned portion shall thereafter vest at the same time or times as the award was originally scheduled to vest, except that such vesting shall be based on the Participant’s continued service with the surviving or acquiring company or parent thereof; provided, however, that in the event the Participant is terminated without Cause within 12 months following 
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the Change in Control, any then unvested portion of the Award shall vest in full.  Notwithstanding the foregoing, in the event the surviving or acquiring company does not assume the outstanding Awards or substitute similar stock awards for those outstanding under the Plan as of the Change in Control, then (a) the vesting of all Awards shall be accelerated in full immediately prior to such Change in Control, with all performance goals or other vesting criteria applicable to any performance-based Awards deemed achieved based on performance measured through the date of the Change in Control, and (b) such outstanding Awards shall terminate and/or be payable in cash or property (determined by the Administrator in its sole discretion) upon the occurrence of the Change in Control in a manner designed to comply with Code Section 409A, and such payment may be subject to any escrow, earn-out or other contingent or deferred payment arrangement that is contemplated by the Change in Control.  The Administrator shall have the authority to take additional actions it deems necessary or advisable in connection with the Change in Control transaction, and may take different actions with respect to different Participants under the Plan, different Awards under the Plan, and different portions of Awards granted under the Plan, in each case to the extent not inconsistent with the terms and conditions of this Section 8.2. 
9.TAX PROVISIONS    
9.1 Tax Withholding. Upon any exercise, vesting, or payment of any Award, the Company or one of its Subsidiaries shall have the right at its option to: 
a.require the Participant (or the Participant’s personal representative or beneficiary, as the case may be) to pay or provide for payment of at least the minimum amount of any taxes which the Company or its Subsidiaries may be required to withhold with respect to such Award event or payment; or 
b.deduct from any amount otherwise payable in cash to the Participant (or the Participant’s personal representative or beneficiary, as the case may be) the minimum amount of any taxes which the Company or its Subsidiaries may be required to withhold with respect to such cash payment. 
In any case where a tax is required to be withheld in connection with the delivery of shares of Common Stock under this Plan, the Administrator may in its sole discretion (subject to Section 10.1) grant (either at the time of the Award or thereafter) to the Participant the right to elect, pursuant to such rules and subject to such conditions as the Administrator may establish, to have the Company reduce the number of shares to be delivered by (or otherwise reacquire) the appropriate number of shares, valued in a consistent manner at their Fair Market Value or at the sales price in accordance with authorized procedures for cashless exercises, necessary to satisfy the applicable withholding obligation on exercise, vesting or payment, not in excess of the maximum statutory rates in the Participant’s applicable jurisdictions. 
9.2 Requirement of Notification of Code Section 83(b) Election. If any Participant shall make an election under Section 83(b) of the Code (to include in gross income in the year of transfer the amounts specified in Section 83(b) of the Code) or under a similar provisions of the laws of a jurisdiction outside the United States, such Participant shall notify the Company of such election within ten (10) days after filing notice of the election with the Internal Revenue Service or other government authority, in addition to any filing and notification required pursuant to regulations issued under Code Section 83(b) or other applicable provision. 
9.3 Requirement of Notification of Disqualifying Disposition. If any Participant shall make any disposition of shares of Common Stock delivered to the Participant pursuant to the exercise of an ISO under the circumstances described in Code Section 421(b) (relating to certain disqualifying dispositions), such Participant shall notify the Company of such disposition within ten (10) days thereof. 
10.OTHER PROVISIONS    
10.1 Compliance with Laws. This Plan, the granting and vesting of Awards under this Plan, the offer, issuance and delivery of shares of Common Stock, the payment of money under this Plan or under Awards are subject to compliance with all applicable federal and state laws, rules and regulations and to such approvals by any applicable stock exchange listing, regulatory or governmental authority as may, in the opinion of the counsel for the Company, be necessary or advisable in connection therewith. The person 
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acquiring any securities under this Plan will, if requested by the Company or any of its Subsidiaries, provide such assurances and representations to the Company or any of its Subsidiaries as the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements. 
10.2 Future Awards/Other Rights. No person shall have any claim or rights to be granted an Award (or additional Awards, as the case may be) under this Plan, subject to any express contractual rights (set forth in a document other than this Plan) to the contrary. 
10.3 No Employment/Service Contract. Nothing contained in this Plan or in any other documents under this Plan or in any Award Agreement shall confer upon any Eligible Person or other Participant any right to continue in the employ or other service of the Company or any of its Subsidiaries, constitute any contract or agreement of employment or other service or affect an employee’s status as an employee at-will, nor shall interfere in any way with the right of the Company or its Subsidiaries to change a person’s compensation or other benefits, or to terminate his or her employment or other service, with or without Cause. Nothing in this Section 10.3, however, is intended to adversely affect any express independent right of such person under a separate employment or service contract other than an Award Agreement. 
10.4 Plan Not Funded. Awards payable under this Plan shall be payable in shares of Common Stock or from the general assets of the Company, and no special or separate reserve, fund or deposit shall be made to assure payment of such Awards. No Participant, beneficiary or other person shall have any right, title or interest in any fund or in any specific asset (including shares of Common Stock, except as expressly otherwise provided) of the Company or any of its Subsidiaries by reason of any Award hereunder. Neither the provisions of this Plan or of any related documents, nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company or any of its Subsidiaries and any Participant, beneficiary or other person. To the extent that a Participant, beneficiary or other person acquires a right to receive payment pursuant to any Award hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company. 
10.5 Effective Date, Termination and Suspension, Amendments.    
10.5.1 Effective Date and Termination. This Plan was approved by the Board and shall become effective upon approval by the stockholders of the Company. Unless earlier terminated by the Board, this Plan shall terminate at the close of business five (5) years after the date on which it was approved by the Board. After the termination of this Plan either upon such stated expiration date or its earlier termination by the Board, no additional Awards may be granted under this Plan, but previously granted Awards (and the authority of the Administrator with respect thereto, including the authority to amend such Awards) shall remain outstanding in accordance with their applicable terms and conditions and the terms and conditions of this Plan. 
10.5.2 Amendment; Termination. The Board may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole or in part. No Awards may be granted during any period that the Board suspends this Plan. 
10.5.3 Stockholder Approval. To the extent then required by applicable law or any applicable stock exchange rule or required to preserve the intended tax consequences of this Plan, or deemed necessary or advisable by the Board, this Plan and any amendment to this Plan shall be subject to approval by the stockholders of the Company. 
10.5.4 Amendments to Awards.  Without limiting any other express authority of the Administrator under (but subject to) the express limits of this Plan, the Administrator may by agreement or resolution waive conditions of or limitations on Awards to Participants that the Administrator in the prior exercise of its discretion has imposed, without the consent of a Participant, and (subject to the requirements of Sections 3.2 and 10.5.5) may make other changes to the terms and conditions of Awards. Any amendment or other action that would constitute a repricing of an Award is subject to the limitations and stockholder approval requirements set forth in Section 3.2(g). 
10.5.5 Limitations on Amendments to Plan and Awards. No amendment, suspension or termination of this Plan or change of or affecting any outstanding Award shall, without written consent of the 
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Participant, affect in any manner materially adverse to the Participant any rights or benefits of the Participant or obligations of the Company under any Award granted under this Plan. Changes, settlements and other actions contemplated by Section 8 shall not be deemed to constitute changes or amendments for purposes of this Section 10.5.5. 
10.6 Privileges of Stock Ownership. Except as otherwise expressly authorized by the Administrator or this Plan, a Participant shall not be entitled to any privilege of stock ownership as to any shares of Common Stock not actually delivered to and held of record by the Participant. Except as expressly provided herein, no adjustment will be made for dividends or other rights as a stockholder of the Company for which a record date is prior to such date of delivery. 
10.7 Governing Law; Severability; Construction.
10.7.1 Choice of Law. This Plan, the Awards, all documents evidencing Awards and all other related documents shall be governed by, and construed in accordance with the laws of the State of Delaware. 
10.7.2 Severability.  If a court of competent jurisdiction holds any provision of this Plan invalid and unenforceable, the remaining provisions of this Plan shall continue in effect and the Plan shall be construed and enforced without regard to the illegal or invalid provision. 
10.7.3 Plan Construction.    
a.Rule 16b-3.  It is the intent of the Company that the Awards and transactions permitted by the Awards be interpreted in a manner that, in the case of Participants who are or may be subject to Section 16 of the Exchange Act, qualify, to the maximum extent compatible with the express terms of the Award, for exemption from matching liability under Rule 16b-3 promulgated under the Exchange Act. Notwithstanding the foregoing, the Company shall have no liability to any Participant for Section 16 consequences of Awards or events under Awards if an Award or event does not so qualify. 
b.Compliance with Section 409A of the Code.  The Board intends that, except as may be otherwise determined by the Administrator, any Awards under the Plan will be either exempt from, or satisfy the requirements of, Section 409A to avoid the imposition of any taxes, including additional income or penalty taxes, thereunder. If the Administrator determines that an Award, Award Agreement, acceleration, adjustment to the terms of an Award, payment, distribution, deferral election, transaction or any other action or arrangement contemplated by the provisions of the Plan would, if undertaken, cause a Participant’s Award to violate Section 409A, unless the Administrator expressly determines otherwise, such Award, Award Agreement, payment, acceleration, adjustment, distribution, deferral election, transaction or other action or arrangement shall not be undertaken and the related provisions of the Plan and/or Award Agreement will be deemed modified or, if necessary, rescinded in order to comply with the requirements of Section 409A to the extent determined by the Administrator without the consent of or notice to the Participant. Notwithstanding the foregoing, neither the Company nor the Administrator shall have any obligation to take any action to prevent the assessment of any excise tax or penalty on any Participant under Section 409A.  
c.No Guarantee of Favorable Tax Treatment.  Although the Company intends that Awards under the Plan will be exempt from, or will comply with, the requirements of Section 409A of the Code, the Company does not warrant that any Award under the Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of federal, state, local or foreign law. The Company shall not be liable to any Participant for any tax, interest or penalties the Participant might owe as a result of the grant, holding, vesting, exercise or payment of any Award under the Plan. 
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10.8 Stock-Based Awards in Substitution for Stock Options or Awards Granted by Other Corporation.  Awards may be granted to Eligible Persons in substitution for or in connection with an assumption of employee stock options, stock appreciation right, restricted stock or other stock-based awards granted by other entities to persons who are or who will become Eligible Persons in respect of the Company or one of its Subsidiaries, in connection with a distribution, arrangement, business combination, merger or other reorganization by or with the granting entity or an affiliated entity, or the acquisition by the Company or one of its Subsidiaries, directly or indirectly, of all or a substantial part of the stock or assets of the employing entity. The Awards so granted need not comply with other specific terms of this Plan, provided the Awards reflect only adjustments giving effect to the assumption or substitution consistent with the conversion applicable to the Common Stock in the transaction and any change in the issuer of the security. Any shares that are delivered and any Awards that are granted by, or become obligations of, the Company, as a result of the assumption by the Company of, or in substitution for, outstanding Awards previously granted by an acquired company (or previously granted by a predecessor employer (or direct or indirect parent thereof) in the case of persons that become employed by the Company or one of its Subsidiaries in connection with a business or asset acquisition or similar transaction) shall not be counted against the Share Limit or other limits on the number of shares available for issuance under this Plan, except as may otherwise be provided by the Administrator at the time of such assumption or substitution or as may be required to comply with the requirements of any applicable stock exchange. 
10.9 Non-Exclusivity of Plan.  Nothing in this Plan shall limit or be deemed to limit the authority of the Board or the Administrator to grant Awards or authorize any other compensation, with or without reference to the Common Stock, under any other plan or authority. 
10.10 No Corporate Action Restriction.  The existence of this Plan, the Award Agreements and the Awards granted hereunder shall not limit, affect or restrict in any way the right or power of the Board or the stockholders of the Company to make or authorize: (a) any adjustment, recapitalization, reorganization or other change in the capital structure or business of the Company or any Subsidiary, (b) any merger, arrangement, business combination, amalgamation, consolidation or change in the ownership of the Company or any Subsidiary, (c) any issue of bonds, debentures, capital, preferred or prior preference stock ahead of or affecting the capital stock (or the rights thereof) of the Company or any Subsidiary, (d) any dissolution or liquidation of the Company or any Subsidiary, (e) any sale or transfer of all or any part of the assets or business of the Company or any Subsidiary, or (f) any other corporate act or proceeding by the Company or any Subsidiary. No Participant, beneficiary or any other person shall have any claim under any Award or Award Agreement against any member of the Board or the Administrator, or the Company or any employees, officers or agents of the Company or any Subsidiary, as a result of any such action. 
10.11 Other Company Benefit and Compensation Programs.  Payments and other benefits received by a Participant under an Award made pursuant to this Plan shall not be deemed a part of a Participant’s compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if any, provided by the Company or any Subsidiary, except where the Administrator expressly otherwise provides or authorizes in writing, or except as otherwise specifically set forth in the terms and conditions of such other employee welfare or benefit plan or arrangement. Awards under this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants, Awards or commitments under any other plans or arrangements of the Company or its Subsidiaries. 
10.12 Restrictive Covenants; Cause Forfeiture; Clawback Policy.
10.12.1 Restrictive Covenants.  The Company may retain the right in an Award Agreement to cause a forfeiture of the gain realized by a Participant on account of actions taken by the Participant in violation or breach of or in conflict with any non-competition agreement, any agreement prohibiting solicitation of employees of the Company or any Affiliate thereof or any confidentiality obligation or post-employment cooperation agreement with respect to the Company or any Affiliate, to the extent specified in such Award Agreement applicable to the Participant. 
10.12.2 Annulment upon Termination for Cause.  The Administrator may annul an Award if the Participant is an employee of the Company or an Affiliate thereof and is terminated for Cause. 
10.12.3 Awards Subject to Clawback.  Notwithstanding any other provision of this Plan to the contrary, any Award granted or amount payable or paid under this Plan shall be subject to the terms of 
17

any compensation recoupment policy then applicable, if any, of the Company, to the extent the policy applies to such Award or amount.  By accepting an Award or the payment of any amount under the Plan, each Participant agrees and consents to the Company’s application, implementation and enforcement of (a) any such policy and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are permitted under the policy or applicable law without further consent or action being required by such Participant.  To the extent that the terms of this Plan and the policy or applicable law conflict, then the terms of the policy or applicable law shall prevail.
10.13 Captions.  Captions and headings are given to the sections and subsections of this Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Plan or any provision thereof. 
As adopted by the Board of Directors of ServiceSource International, Inc. on March 5, 2020. 

18Exhibit
10.1

 

CURRENCYWORKS
INC.

(the
“Issuer”)

 

PRIVATE
PLACEMENT SUBSCRIPTION AGREEMENT

(UNITS)

 

INSTRUCTIONS
TO SUBSCRIBER

 

	1.	You
    must complete all the information in the boxes on page 2 and sign where indicated with an “X”.
	 	 
	2.	If
    you are resident in Canada, you must complete and sign Exhibit A “Canadian Investor Questionnaire” that starts
    on page 17. The purpose of this form is to determine whether you meet the standards for participation in a private placement
    under applicable Canadian securities laws. In order for the Issuer to satisfy its obligations under applicable Canadian securities
    laws, you may be required to provide additional evidence to verify the information you have provided in Exhibit A.
	 	 
	3.	If
    you are a “U.S. Purchaser”, as defined in Exhibit B, you must complete and sign Exhibit B “United States
    Accredited Investor Questionnaire” that starts on page 31.
	 	 
	4.	If
    you are not an individual (that is, the purchaser is a corporation, partnership, trust or entity other than an individual)
    or you are a portfolio manager, then complete and sign Exhibit C “Corporate Placee Registration Form” (Form 4C)
    that starts on page 36. If you have previously submitted this form to the TSX Venture Exchange, and there have been no changes
    to its content, then please check the box to that effect on page 2.
	 	 
	5.	All
    subscription funds must be in Canadian Dollars.

 

    	 	 	 

    	 	-2-	 

    

 

CURRENCYWORKS
INC.

 

PRIVATE
PLACEMENT SUBSCRIPTION AGREEMENT

 

The
undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase from CurrencyWorks
Inc. (the “Issuer”) that number of units of the Issuer (each, a “Unit”) set out below at
a price of $0.05 per Unit. Each Unit is comprised of one common share in the capital of the Issuer (each, a “Share”)
and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder
thereof to acquire one Share (each, a “Warrant Share”) at a price of $0.10 per Warrant Share until 5:00 p.m.
(Vancouver time) on the date of expiration of the Warrant, which is two (2) years following the Closing Date (as defined herein).
The Subscriber agrees to be bound by the terms and conditions set forth in the attached “Terms and Conditions of Subscription
for Units”.

 

	 	Subscriber
        Information

         

         
	 	 	 	Units
        to be Purchased

         

         
	 
	 	(Name
    of Subscriber)	 	 	 	(Number
    of Units)	 
	 	 	 	 	 	 	 
	 	Account
    Reference (if applicable): ____________________	 	 	 	 	 
	 	 	 	 	 	Total
    Subscription Price: ___________________________	 
	 	 

        X
        
	 	 	 	(the
    “Subscription Amount”, plus wire fees if applicable)	 
	 	(Signature
    of Subscriber – if the Subscriber is an Individual)	 	 	 	 	 
	 	 	 	 	 	 	 
	 	X	 	 	 	 	 
	 	(Signature
        of Authorized Signatory – if the Subscriber is not an Individual)

                                                          

        ______________________________________________

        (Name
        and Title of Authorized Signatory – if the Subscriber is not an Individual)

         

        ______________________________________________ 

        (Subscriber’s
        Address, including postal or zip code)

        

         

        ______________________________________________

         

        _______________________________________________ 

        (Telephone
        Number)                                          (Email Address)
	 	 	 	If
        the Subscriber is signing as trustee or agent for a beneficial purchaser and is not deemed to be purchasing as principal
        under National Instrument 45-106 – Prospectus Exemptions adopted by the Canadian Securities Administrators by virtue
        of being either: (i) a trust company or trust corporation acting on behalf of a fully managed account managed by the trust
        company or trust corporation; or (ii) a person acting on behalf of a fully managed account managed by it, and in each
        case satisfying the criteria set forth in NI 45-106 or Section 73.3 of the Securities Act (Ontario), complete the
        following and ensure that the applicable Schedules are completed in respect of the beneficial purchaser (“Disclosed
        Beneficial Purchaser”):

        ____________________________________________ 

        (Name
        of Disclosed Beneficial Purchaser)

         

        ____________________________________________ 

        (Address
        of Disclosed Beneficial Purchaser)

         

        ____________________________________________ 

        (Account
        Reference, if applicable)
	 

 

	 	Register
        the Shares and Warrants as set forth below:

         

        ______________________________________________

        (Name
        to Appear on Share and Warrant Certificate)

         

        ______________________________________________

        (Account
        Reference, if applicable)

         

        ______________________________________________

        (Address,
including postal or zip code)
	 	 	 	Deliver
the Shares and Warrants as set forth below:

                                                                      

                                                                     ______________________________________________ 

        (Attention
- Name)

         

        ______________________________________________

        (Account
Reference, if applicable)

         

        _____________________________________________ 

        (Street
Address, including postal or zip code – no PO Boxes permitted)

         

        ______________________________________________

        (Telephone
        Number)
	 

 

	 	Number
and kind of securities of the Issuer held, directly or indirectly, or over which control or direction is exercised by, the Subscriber,
if any (i.e., shares, warrants, options):

         

         

         

        ______________________________________________

        

         

        ______________________________________________

         

         

        

         
	 	 	 	1.
                                                                     State whether the Subscriber is an insider of the Issuer:

         

        Yes [  ]                   No [  ]

         

        2.
        State whether the Subscriber is a member of the Pro Group:

         

        Yes
[  ]                  No [  ]

         

        3.
        State whether the Subscriber has a current Form 4C on file with the TSX Venture Exchange (if not an
        individual):

         

        Yes [  ]                  No [  ]

         

        4.
        State whether the Subscriber is a registrant:

         

        Yes
        [  ]                  No [  ]
	 

 

    	 	 	 

    	 	-3-	 

    

 

ACCEPTANCE

 

The
Issuer hereby accepts the Subscription (as defined herein) on the terms and conditions contained in this private placement subscription
agreement (this “Agreement” or this “Subscription Agreement”) as of the _____ day of ___________,
2020 (the “Closing Date”).

 

	CURRENCYWORKS
    INC.	 
	 	 
	Per:	 	 
	 	Authorized
    Signatory	 	 

 

	Address:	561
    Indiana Court	 
	 	Los
    Angeles, CA 90291	 
	Email:
    	Michael.blum@currencyworks.io	 
	Attention:	Michael
    Blum	 

 

    	 	 	 

    	 	-4-	 

    

 

TERMS
AND CONDITIONS OF SUBSCRIPTION FOR units

 

1.
Subscription

 

1.1
On the basis of the representations and warranties, and subject to the terms and conditions, set forth in this Agreement, the
Subscriber hereby irrevocably subscribes for and agrees to purchase such number of Units as is set forth on page 2 of this Agreement
at a price of CAD$0.05 per Unit for the Subscription Amount shown on page 2 of this Agreement, which is tendered herewith (such
subscription and agreement to purchase being the “Subscription”), and the Issuer agrees to sell the Units to
the Subscriber, effective upon the Issuer’s acceptance of this Agreement.

 

1.2
The Subscriber acknowledges that the Units have been offered to the Subscriber as part of an offering by the Issuer of additional
Units to other subscribers for gross proceeds of up to $1,000,000 (or any such greater or lesser amount as may be determined by
the Issuer in its sole discretion) (the “Offering”).

 

1.3
Each Unit will consist of one Share and one Warrant. Each Warrant will entitle the holder thereof to purchase one Warrant Share,
as presently constituted, for a period of two (2) years commencing from the Closing Date at an exercise price of CAD$0.10 per
Warrant Share. The Units, the Shares, the Warrants and the Warrant Shares are referred to herein as the “Securities”.

 

1.4
The Warrants will contain a provision restricting the exercise of the Warrants as follows:

 

	 	(a)	Notwithstanding
    anything to the contrary set forth herein, at no time may the Subscriber of any Warrant exercise the Warrants if the number
    of shares to be issued pursuant to such exercise would exceed, when aggregated with all other shares owned by such Subscriber
    at such time, the number of shares which would result in such Subscriber beneficially owning (as determined in accordance
    with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules thereunder) in excess of 9.99% of all
    of the shares outstanding at such time; provided, however, that upon the Subscriber providing the Company with sixty-one (61)
    days’ notice that such Holder would like to waive this Section with regard to any or all shares issuable upon exercise
    of the Warrants, this Section will be of no force or effect with regard to all or a portion of the Warrants referenced in
    such notice; provided, further, that this Section shall be of no further force or effect during the sixty-one (61) days immediately
    preceding the expiration of the term of the Warrants.

 

1.5
All dollar amounts referred to in this Agreement are in lawful money of Canada, unless otherwise indicated.

 

2.
Payment

 

2.1
The Subscription Amount must accompany this Subscription and will be paid wire transfer to either (i) Clark Wilson LLP (the “Issuer’s
Counsel”) pursuant to wiring instructions provided in Exhibit D or (ii) to the Issuer pursuant to wiring instructions
provided in Exhibit E. The Subscriber irrevocably authorizes the Clark Wilson LLP (the “Issuer’s Counsel”)
to immediately deliver the Subscription Amount to the Issuer upon receipt of the Subscription Amount from the Subscriber, notwithstanding
that such delivery may be made by the Issuer’s Counsel to the Issuer prior to the closing of the Offering (the “Closing”).
The Subscriber authorizes the Issuer to treat the Subscription Amount as an interest free loan until the Closing.

 

2.2
The Subscriber acknowledges and agrees that this Agreement, the Subscription Amount and any other documents or monies delivered
in connection herewith will be held by or on behalf of the Issuer. In the event that this Agreement is not accepted by the Issuer
for whatever reason, which the Issuer expressly reserves the right to do, the Issuer will return the Subscription Amount (without
interest thereon and less any wire charges) and any other documents delivered in connection herewith to the Subscriber at the
address of the Subscriber as set forth on page 2 of this Agreement, or as otherwise directed by the Subscriber.

 

    	 	 	 

    	 	-5-	 

    

 

3.
Documents Required from Subscriber

 

3.1
Prior to the Closing, the Subscriber must complete, sign and return to the Issuer the following documents:

 

	 	(a)	this
    Agreement;
	 	 	 
	 	(b)	if
    the Subscriber is a resident of Canada, the Canadian Investor Questionnaire (the “Canadian Questionnaire”)
    attached as Exhibit A that starts on page 17, along with any additional evidence that may be requested by the Issuer to verify
    the information provided in the Canadian Questionnaire;
	 	 	 
	 	(c)	if
    the Subscriber is a U.S. Purchaser (as defined in Exhibit B), the United States Accredited Investor Questionnaire (the “U.S.
    Questionnaire” and, together with the Canadian Questionnaire, the “Questionnaires”) attached
    as Exhibit B that starts on page 31 along with any additional evidence that may be requested by the Issuer to verify the information
    provided in the U.S. Questionnaire;
	 	 	 
	 	(d)	if
    the Subscriber is not an individual or is a portfolio manager and does not have a current Corporate Placee Registration Form
    on file with the TSX Venture Exchange (the “Exchange”), the Corporate Placee Registration Form attached
    as Exhibit C that starts on page 36, unless the Subscriber has previously submitted this form to the Exchange, there have
    been no changes to its content, and the Subscriber has checked the box to that effect on page 2 of this Agreement; and
	 	 	 
	 	(e)	such
    other supporting documentation that the Issuer may request to establish the Subscriber’s qualification as a qualified
    investor,

 

and
the Subscriber acknowledges and agrees that the Issuer will not consider the Subscription for acceptance unless the Subscriber
has provided all of such documents to the Issuer.

 

3.2
As soon as practicable upon any request by the Issuer, the Subscriber will complete, sign and return to the Issuer any additional
documents, questionnaires, notices and undertakings as may be required by any regulatory authorities or applicable laws.

 

3.3
The Issuer and the Subscriber acknowledge and agree that the Issuer’s Counsel has acted as legal counsel only to the Issuer
and is not protecting the rights and interests of the Subscriber. The Subscriber acknowledges and agrees that the Issuer and the
Issuer’s Counsel have given the Subscriber the opportunity to seek, and are hereby recommending that the Subscriber obtain,
independent legal advice with respect to the subject matter of this Agreement, and the Subscriber hereby represents and warrants
to the Issuer and the Issuer’s Counsel that the Subscriber has sought such independent legal advice or waives such advice.

 

4.
Conditions and Closing

 

4.1
The Closing Date will occur on such date as may be determined by the Issuer in its sole discretion. The Issuer may, at its discretion,
elect to close the Offering in one or more closings.

 

    	 	 	 

    	 	-6-	 

    

 

4.2
The Closing is conditional upon and subject to:

 

	 	(a)	the
    Issuer having obtained all necessary approvals and consents, including applicable regulatory approvals, for the Offering;
	 	 	 
	 	(b)	the
    issue and sale of the Units being exempt from the requirement to file a prospectus and the requirement to deliver an offering
    memorandum under applicable securities laws relating to the sale of the Units, or the Issuer having received such orders,
    consents or approvals as may be required to permit such sale without the requirement to file a prospectus or deliver an offering
    memorandum; and
	 	 	 
	 	(c)	the
    Issuer having obtained the approval of the Exchange for the Offering.

 

4.3
The Subscriber acknowledges that the certificates representing the Shares and the Warrants will be available for delivery within
five business days of the Closing Date, provided that the Subscriber has satisfied the requirements of Section 3 hereof and the
Issuer has accepted this Agreement.

 

5.
Acknowledgements and Agreements of the Subscriber

 

5.1
The Subscriber acknowledges and agrees that:

 

	 	(a)	except
    as provided in this Agreement, none of the Securities have been or will be registered under the United States Securities
    Act of 1933, as amended (the “1933 Act”), or under any securities or “blue sky” laws of
    any state of the United States, and, unless so registered, may not be offered or sold in the United States or, directly or
    indirectly, to any U.S. Person (as defined in Section 6.2), except in accordance with the provisions of Regulation S under
    the 1933 Act (“Regulation S”), pursuant to an effective registration statement under the 1933 Act, or pursuant
    to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and in each case
    only in accordance with applicable state, provincial and foreign securities laws; 
	 	 	 
	 	(b)	hedging
    transactions involving the Securities may not be conducted unless such transactions are in compliance with the provisions
    of the 1933 Act and in each case only in accordance with applicable securities laws;
	 	 	 
	 	(c)	the
    Issuer has not undertaken, and will have no obligation, to register any of the Securities under the 1933 Act or any other
    applicable securities laws;
	 	 	 
	 	(d)	the
    Issuer will refuse to register the transfer of any of the Securities to a U.S. Person not made pursuant to an effective registration
    statement under the 1933 Act or pursuant to an available exemption from the registration requirements of the 1933 Act, and
    in each case in accordance with all applicable laws;
	 	 	 
	 	(e)	the
    decision to execute this Agreement and to acquire the Securities has not been based upon any oral or written representation
    as to fact or otherwise made by or on behalf of the Issuer and such decision is based entirely upon a review of any public
    information which has been filed by the Issuer with the United States Securities and Exchange Commission (the “SEC”)
    or EDGAR at www.sec.gov (collectively, the “Public Record”);
	 	 	 
	 	(f)	the
    Issuer has not solicited the Subscriber using any registration statement filed by the Issuer with the SEC and the Subscriber
    has not reviewed or relied on such registration statement in connection with the Subscribers decision to invest in the Securities;

 

    	 	 	 

    	 	-7-	 

    

 

	 	(g)	the
    Issuer and others will rely upon the truth and accuracy of the acknowledgements, representations, warranties, covenants and
    agreements of the Subscriber contained in this Agreement and the Questionnaires, as applicable, and the Subscriber agrees
    that if any of such acknowledgements, representations and agreements are no longer accurate or have been breached, the Subscriber
    will promptly notify the Issuer;
	 	 	 
	 	(h)	there
    are risks associated with the acquisition of the Securities, as more fully described in this Agreement and the Issuer’s
    periodic disclosure forming part of the Public Record;
	 	 	 
	 	(i)	the
    Subscriber and the Subscriber’s advisor(s) have had a reasonable opportunity to ask questions of and receive answers
    from the Issuer in connection with the distribution of the Securities hereunder, and to obtain additional information, to
    the extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information
    about the Issuer;
	 	 	 
	 	(j)	a
    portion of this Offering may be sold pursuant to an agreement between the Issuer and one or more agents registered in accordance
    with applicable securities laws, in which case the Issuer will pay a fee and/or compensation securities on terms as set out
    in such agreement; 
	 	 	 
	 	(k)	finder’s
    fees or broker’s commissions may be payable by the Issuer to finders who introduce subscribers to the Issuer;
	 	 	 
	 	(l)	the
    books and records of the Issuer were available upon reasonable notice for inspection, subject to certain confidentiality restrictions,
    by the Subscriber during reasonable business hours at its principal place of business, and all documents, records and books
    in connection with the distribution of the Securities hereunder have been made available for inspection by the Subscriber,
    the Subscriber’s legal counsel and/or the Subscriber’s advisor(s);
	 	 	 
	 	(m)	all
    of the information which the Subscriber has provided to the Issuer is correct and complete, and if there should be any change
    in such information prior to the Closing, the Subscriber will immediately notify the Issuer, in writing, of the details of
    any such change;
	 	 	 
	 	(n)	the
    Issuer is entitled to rely on the representations and warranties of the Subscriber contained in this Agreement and the Questionnaires,
    as applicable;
	 	 	 
	 	(o)	any
    resale of the Securities by the Subscriber will be subject to resale restrictions contained in the securities laws applicable
    to the Issuer, the Subscriber and any proposed transferee, and it is the responsibility of the Subscriber to find out what
    those restrictions are and to comply with such restrictions before selling any of the Securities;
	 	 	 
	 	(p)	the
    Subscriber has been advised to consult the Subscriber’s own legal, tax and other advisors with respect to the merits
    and risks of an investment in the Securities and with respect to applicable resale restrictions, and the Subscriber is solely
    responsible (and the Issuer is not in any way responsible) for compliance with any applicable:

 

	 	(i)	laws
    of the jurisdiction in which the Subscriber is resident in connection with the distribution of the Securities hereunder, and
	 	 	 
	 	(ii)	resale
    restrictions; 

 

    	 	 	 

    	 	-8-	 

    

 

	 	(q)	there
    may be material tax consequences to the Subscriber for any acquisition or disposition of the Securities and the Issuer gives
    no opinion and makes no representation to the Subscriber with respect to the tax consequences to the Subscriber under federal,
    state, provincial, local or foreign tax laws that may apply to the Subscriber’s acquisition or disposition of the Securities;
	 	 	 
	 	(r)	the
    Subscriber consents to the placement of a legend or legends on any certificate or other document evidencing any of the Securities
    setting forth or referring to the restrictions on transferability and sale thereof contained in this Agreement, with such
    legend(s) to be substantially as follows (although the Subscriber acknowledges that the hold period on the Securities will
    be six months):

 

UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THESE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE [four months and
one day from the Closing Date.];

 

and,
if applicable:

 

WITHOUT
PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE
EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL [four months and one day from the Closing
Date.];

 

If
the Subscriber is not resident in the United States:

 

THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO
REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT
IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING
THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON”
ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

    	 	 	 

    	 	-9-	 

    

 

If
the Subscriber is resident in the United States:

 

THESE
SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE AND
HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

	 	(s)	the
    Issuer has advised the Subscriber that the Issuer is relying on an exemption from the requirements to provide the Subscriber
    with a prospectus and to sell the Units through a person registered to sell securities under Canadian securities laws, and,
    as a consequence of acquiring the Units pursuant to such exemption, certain protections, rights and remedies provided by applicable
    securities laws (including the various provincial securities acts), including statutory rights of rescission or damages, will
    not be available to the Subscriber;
	 	 	 
	 	(t)	no
    securities commission or similar regulatory authority has reviewed or passed on the merits of any of the Securities; 
	 	 	 
	 	(u)	there
    is no government or other insurance covering any of the Securities; and
	 	 	 
	 	(v)	this
    Agreement is not enforceable by the Subscriber unless it has been accepted by the Issuer and the Issuer reserves the right
    to reject this Subscription for any reason.

 

6.
Representations and Warranties of the Subscriber

 

6.1
The Subscriber hereby represents and warrants to the Issuer (which representations and warranties will survive the Closing) that:

 

	 	(a)	unless
    the Subscriber has completed Exhibit B, the Subscriber is not a U.S. Person;
	 	 	 
	 	(b)	the
    Subscriber is resident in the jurisdiction set out on page 2 of this Agreement;
	 	 	 
	 	(c)	if
    the Subscriber is resident outside of Canada:

 

	 	(i)	the
    Subscriber is knowledgeable of, or has been independently advised as to, the applicable securities laws having application
    in the jurisdiction in which the Subscriber is resident (the “International Jurisdiction”) which would
    apply to the offer and sale of the Units and the Subscriber will comply with all laws of the International Jurisdiction,
	 	 	 
	 	(ii)	the
    Subscriber is purchasing the Units pursuant to exemptions from prospectus or equivalent requirements under applicable laws
    or, if such is not applicable, the Subscriber is permitted to purchase the Securities under applicable securities laws of
    the International Jurisdiction without the need to rely on any exemptions,

 

    	 	 	 

    	 	-10-	 

    

 

	 	(iii)	the
    applicable securities laws of the International Jurisdiction do not require the Issuer to make any filings or seek any approvals
    of any kind from any securities regulator of any kind in the International Jurisdiction in connection with the offer, issue,
    sale or resale of any of the Securities,

 

	 	(iv)	the
    purchase of the Units by the Subscriber does not trigger:

 

	 	A.	any
    obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the
    International Jurisdiction, or
	 	 	 
	 	B.	any
    continuous disclosure reporting obligation of the Issuer in the International Jurisdiction, and

 

	 	(v)	the
    Subscriber will, if requested by the Issuer, deliver to the Issuer a certificate or opinion of local counsel from the International
    Jurisdiction which will confirm the matters referred to in subparagraphs (ii), (iii) and (iv) above to the satisfaction of
    the Issuer, acting reasonably;

 

	 	(d)	if
    the Subscriber is: (i) a corporation, the Subscriber is duly incorporated and is validly subsisting under the laws of its
    jurisdiction of incorporation and has all requisite legal and corporate power and authority to sign and deliver this Subscription
    Agreement, to subscribe for the Units and to carry out and perform its obligations under its terms and has obtained all necessary
    approvals in this respect; (ii) a partnership, syndicate or other form of unincorporated organization, the Subscriber has
    the necessary legal capacity and authority to sign and deliver this Subscription Agreement and to observe and perform its
    covenants and obligations and has obtained all necessary approvals in this respect; or (iii) an individual, the Subscriber
    is of the full age of majority and is legally competent to sign this Subscription Agreement and to observe and perform his
    or her obligations under it, and in the cases of (i) and (ii) is not a person created or used solely to purchase or hold the
    Securities in reliance on an exemption from the prospectus requirements under applicable securities laws;
	 	 	 
	 	(e)	the
    entering into of this Agreement and the transactions contemplated hereby do not result in the violation of any of the terms
    and provisions of any law applicable to, or, if applicable, the constating documents of, the Subscriber or of any agreement,
    written or oral, to which the Subscriber may be a party or by which the Subscriber is or may be bound;
	 	 	 
	 	(f)	the
    Subscriber has duly executed and delivered this Agreement and it constitutes a valid and binding agreement of the Subscriber
    enforceable against the Subscriber in accordance with its terms;
	 	 	 
	 	(g)	in
    the case of a subscription for the Units by the Subscriber acting as trustee, agent or attorney for a Disclosed Beneficial
    Purchaser, the Subscriber is duly authorized to sign and deliver this Subscription Agreement and all other necessary documentation
    in connection with the subscription on behalf of each Disclosed Beneficial Purchaser, each of whom is subscribing as principal
    for its own account, not for the benefit of any other person and for investment only and not with a view to the resale or
    distribution of all or any of the Securities, and this Subscription Agreement has been duly authorized, signed and delivered
    by or on behalf of, and constitutes a legal, valid and binding agreement of, such Disclosed Beneficial Purchaser, and is enforceable
    against such Disclosed Beneficial Purchaser in accordance with its terms;

 

    	 	 	 

    	 	-11-	 

    

 

	 	(h)	the
    Subscriber has received and carefully read this Agreement;
	 	 	 
	 	(i)	the
    Subscriber is purchasing the Units as principal;
	 	 	 
	 	(j)	the
    Subscriber is aware that an investment in the Issuer is speculative and involves certain risks, including those risks disclosed
    in the Public Record and the possible loss of the entire Subscription Amount;
	 	 	 
	 	(k)	the
    Subscriber has made an independent examination and investigation of an investment in the Securities and the Issuer and agrees
    that the Issuer will not be responsible in any way for the Subscriber’s decision to invest in the Securities and the
    Issuer;
	 	 	 
	 	(l)	the
    Subscriber is not an underwriter of, or dealer in, any of the Securities, nor is the Subscriber participating, pursuant to
    a contractual agreement or otherwise, in the distribution of the Securities;
	 	 	 
	 	(m)	the
    Subscriber is not aware of any advertisement of any of the Units and is not acquiring the Units as a result of any form of
    general solicitation or general advertising, including advertisements, articles, notices or other communications published
    in any newspaper, magazine or similar media, or broadcast over radio or television, or any seminar or meeting whose attendees
    have been invited by general solicitation or general advertising; and
	 	 	 
	 	(n)	no
    person has made to the Subscriber any written or oral representations:

 

	 	(i)	that
    any person will resell or repurchase any of the Securities,
	 	 	 
	 	(ii)	that
    any person will refund the purchase price of any of the Securities, or
	 	 	 
	 	(iii)	as
    to the future price or value of any of the Securities.

 

6.2
In this Agreement, the term “U.S. Person” will have the meaning ascribed thereto in Regulation S, and for the
purpose of this Agreement includes, but is not limited to: (a) any person in the United States; (b) any natural person resident
in the United States; (c) any partnership or corporation organized or incorporated under the laws of the United States; (d) any
partnership or corporation organized outside the United States by a U.S. Person principally for the purpose of investing in securities
not registered under the 1933 Act, unless it is organized or incorporated, and owned, by accredited investors who are not natural
persons, estates or trusts; or (e) any estate or trust of which any executor or administrator or trustee is a U.S. Person.

 

7.
Representations and Warranties of the Issuer

 

7.1
By executing this Subscription Agreement, the Issuer represents, warrants and covenants to the Subscriber, which representations,
warranties and covenants will be true and correct as of the Closing with the same force and effect as if made at and as of the
Closing (and acknowledges that the Subscriber is relying thereon) that:

 

	 	(a)	the
    Issuer has been duly incorporated and organized and is a valid and subsisting company under the laws of the State of Nevada,
    and is duly qualified to carry on business in each jurisdiction wherein the carrying out of the activities contemplated makes
    such qualifications necessary;

 

    	 	 	 

    	 	-12-	 

    

 

	 	(b)	the
    Issuer has the full corporate right, power and authority to execute this Subscription Agreement, and to issue the Securities
    to the Subscriber pursuant to the terms of this Agreement; and
	 	 	 
	 	(c)	this
    Agreement constitutes a binding and enforceable obligation of the Issuer, enforceable in accordance with its terms.

 

8.
Representations and Warranties will be Relied Upon by the Issuer

 

8.1
The Subscriber acknowledges and agrees that the representations and warranties contained in this Agreement are made by it with
the intention that such representations and warranties may be relied upon by the Issuer and the Issuer’s Counsel in determining
the Subscriber’s eligibility to purchase the Units under applicable laws, or, if applicable, the eligibility of others on
whose behalf the Subscriber is contracting hereunder to purchase the Units under applicable laws. The Subscriber further agrees
that, by accepting delivery of the certificates representing the Shares and the Warrants, it will be representing and warranting
that the representations and warranties contained herein are true and correct as at the Closing Date, with the same force and
effect as if they had been made by the Subscriber at such date and that they will survive the purchase by the Subscriber of the
Units and will continue in full force and effect notwithstanding any subsequent disposition by the Subscriber of the Securities.

 

9.
Acknowledgement and Waiver

 

9.1
The Subscriber has acknowledged that the decision to acquire the Units was solely made on the basis of the Public Record.

 

10.
Personal Information

 

10.1
The Subscriber acknowledges that (on its own behalf and, if applicable, on behalf of each Disclosed Beneficial Purchaser):

 

	 	(a)	this
    Subscription Agreement requires the Subscriber to provide certain personal information to the Issuer. Such information is
    being collected by the Issuer for the purposes of completing the Offering, which includes, without limitation, determining
    the Subscriber’s or each Disclosed Beneficial Purchaser’s eligibility to purchase the Units under applicable securities
    laws, preparing and registering certificates representing the Securities to be issued to the Subscriber, if applicable, and
    completing filings required by any stock exchange or securities regulatory authority; and
	 	 	 
	 	(b)	the
    Subscriber’s and, if applicable, any Disclosed Beneficial Purchaser’s personal information may be disclosed by
    the Issuer to: (i) stock exchanges or securities regulatory authorities; (ii) the Issuer’s registrar and transfer agent;
    and (iii) any of the other parties involved in the Offering, including Issuer’s Counsel, and may be included in record
    books in connection with the Offering, and by executing this Subscription Agreement, the Subscriber (on its own behalf and,
    if applicable, on behalf of any Disclosed Beneficial Purchaser) is deemed to be consenting to the foregoing collection, use
    and disclosure of the Subscriber’s and any Disclosed Beneficial Purchaser’s personal information and to the filing
    of copies or originals of any of the documents as may be required to be filed with any stock exchange or securities regulatory
    authorities in connection with the transactions contemplated hereby and the collection, use and disclosure of any personal
    information by the Exchange for the purposes set out in Exchange policies.

 

    	 	 	 

    	 	-13-	 

    

 

10.2
The Subscriber (on its own behalf and, if applicable, on behalf of any Disclosed Beneficial Purchaser) hereby: (i) acknowledges
that it has been notified by the Issuer of the delivery to the securities regulatory authorities of the full name, residential
address, telephone number and email address of the Subscriber; the date of distribution, number of securities purchased and total
purchase price; the exemption relied on (including if applicable, the name and position of the director, executive officer, control
person or founder with whom the Subscriber claimed a relationship and whether the Subscriber-is an insider of the Issuer or a
registrant); (ii) acknowledges that this information is being collected by the securities regulatory authorities under the authority
granted in securities legislation, that this information is being collected for the purposes of the administration and enforcement
of the securities legislation of the local jurisdiction, (iii) acknowledges that it has been notified by the Issuer of the title,
business address and business telephone number of the public official in the local jurisdiction, as set out in this form; and
(iv) authorizes the indirect collection of the information by the securities regulatory authorities.

 

Should
the Subscriber have any questions or concerns with respect to the foregoing, the contact information of the public official in
the local jurisdiction who can answer such questions or address such concerns about the securities regulatory authorities’
indirect collection of personal information is provided below:

 

	Alberta
    Securities Commission 

    Suite 600, 250- 5th Street SW

    Calgary, Alberta T2P OR4

    Telephone: (403) 297-6454

    Toll free in Canada: 1-877-355-0585

    Facsimile: (403) 297-2082	 	Office
    of the Superintendent of Securities Government of Yukon

    Department of Community Services

    307 Black Street, 1st floor

    Box 2703, C-6

    Whitehorse, Yukon YIA 2C6

    Telephone: (867) 667-5466

    Facsimile: (867) 393-6251

    Email: Securities@gov.yk.ca
	 	 	 
	British
    Columbia Securities Commission

    P.O. Box 10142, Pacific Centre

    701 West Georgia Street

    Vancouver, British Columbia V7Y IL2

    Toll free in Canada: 1-800-373-6393

    Facsimile: (604) 899-6581

    Email: inquiries@bcsc.bc.ca	 	Government
    of the Northwest Territories 

    Office of the Superintendent of Securities 

    P.O. Box 1320

    Yellowknife, Northwest Territories XIA 2L9

    Attention: Deputy Superintendent, Legal & Enforcement

    Telephone: (867) 920-8984

    Facsimile: (867) 873-0243
	 	 	 
	The
    Manitoba Securities Commission

    500 - 400 St. Mary Avenue

    Winnipeg, Manitoba R3C 4K5

    Telephone: (204) 945-2548

    Toll free in Manitoba 1-800-655-5244

    Facsimile: (204) 945-0330	 	Nova
    Scotia Securities Commission

    Suite 400, 5251 Duke Street

    Duke Tower

    P.O. Box458

    Halifax, Nova Scotia B3J 2P8

    Telephone: (902) 424-7768

    Facsimile: (902) 424-4625
	 	 	 
	Financial
    and Consumer Services Commission 

    (New Brunswick)

    85 Charlotte Street, Suite 300

    Saint John, New Brunswick E2L 2J2

    Telephone: (506) 658-3060

    Toll free in Canada: 1-866-933-2222

    Facsimile: (506) 658-3059

    Email: info@fcnb.ca	 	Government
    of Nunavut Department of 

    Justice Legal Registries 

    Division P.O. Box 1000, Station 570

    1st Floor, Brown Building

    Iqaluit, Nunavut XOA OHO 

    Telephone: (867) 975-6590

    Facsimile: (867) 975-6594

 

    	 	 	 

    	 	-14-	 

    

 

	Government
    of Newfoundland and Labrador

    Financial Services Regulation Division

    P.O. Box 8700

    Confederation Building

    2nd Floor, West Block

    Prince Philip Drive

    St. John’s, Newfoundland and Labrador AlB 4J6

    Attention: Director of Securities

    Telephone: (709) 7294189

    Facsimile: (709) 729-6187	 	Ontario
    Securities Commission

    20 Queen Street West, 22nd Floor

    Toronto, Ontario M5H 3S8

    Telephone: (416) 593-8314

    Toll free in Canada: 1-877-785-1555

    Facsimile: (416) 593-8122

    Email: exemptmarketfilings@osc.gov.on.ca

    Public official contact regarding indirect collection of information: Inquiries Officer
	 	 	 
	Financial
    and Consumer Affairs Authority of Saskatchewan

    Suite 601 - 1919 Saskatchewan Drive

    Regina, Saskatchewan S4P 4H2

    Telephone: (306) 787-5879

    Facsimile: (306) 787-5899	 	Prince
    Edward Island Securities Office

    95 Rochford Street, 4th Floor Shaw Building

    P.O. Box 2000

    Charlottetown, Prince Edward Island CIA 7N8

    Telephone: (902) 3684569

    Facsimile: (902) 368-5283

 

10.3
The Subscriber represents and warrants that it has the authority to provide the consents and acknowledgements set out in Sections
10.1 and 10.2 on its own behalf and on behalf of all Disclosed Beneficial Purchasers.

 

11.
Anti-Money Laundering

 

11.1
The Subscription Amount, which will be advanced by the Subscriber to the Issuer hereunder, does not and will not represent the
proceeds of crime for the purposes of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), S.C.
2000, c. 17 (the “PCMLTFA”) or similar legislation of any other applicable jurisdiction, and the Subscriber
acknowledges that the Issuer may in the future be required by law to disclose the name of the Subscriber and other information
relating to this Agreement and the subscription hereunder, on a confidential basis, pursuant to the PCMLTFA or such similar legislation.
To the best of the Subscriber’s knowledge:

 

	 	(a)	none
    of the subscription funds provided by the Subscriber have been or will be derived directly or indirectly from or related to
    any activity that is deemed criminal under the laws of Canada, the United States of America, or any other jurisdiction, or
    are being rendered on behalf of a person or entity who has not been identified to the Subscriber; and
	 	 	 
	 	(b)	the
    Subscriber will promptly notify the Issuer if it discovers that any of such representations cease to be true and to provide
    the Issuer with appropriate information in connection therewith.

 

12.
Costs

 

12.1
The Subscriber acknowledges and agrees that all costs and expenses incurred by the Subscriber (including any fees and disbursements
of any legal counsel or other advisor retained by the Subscriber) relating to the purchase of the Units will be borne by the Subscriber.

 

13.
Governing Law

 

13.1
This Agreement, and all matters related hereto or arising herefrom, are and will be, governed by the laws of the State of Nevada
and the federal laws of the United States applicable therein.

 

    	 	 	 

    	 	-15-	 

    

 

14.
Survival 

 

14.1
This Agreement, including, without limitation, the representations, warranties and covenants contained herein, will survive
and continue in full force and effect and be binding upon the Issuer and the Subscriber, notwithstanding the completion of
the purchase of the Units by the Subscriber.

 

15.
Assignment 

 

15.1
This Agreement is not transferable or assignable.

 

16.
Severability 

 

16.1
The invalidity or unenforceability of any particular provision of this Agreement will not affect or limit the validity or
enforceability of the remaining provisions of this Agreement.

 

17.
Entire Agreement 

 

17.1
Except as expressly provided in this Agreement and in the exhibits, agreements, instruments and other documents attached
hereto or contemplated or provided for herein, this Agreement contains the entire agreement between the parties with respect
to the sale of the Units and there are no other terms, conditions, representations or warranties, whether expressed, implied,
oral or written, by statute or common law, by or of the Issuer, the Subscriber or anyone else.

 

18.
Notices 

 

18.1
All notices and other communications hereunder will be in writing and will be deemed to have been duly given if mailed or
transmitted by any standard form of telecommunication, including email or other means of electronic communication capable of
producing a printed copy. Notices to the Subscriber will be directed to it at the address or email address of the Subscriber
set forth on page 2 of this Agreement and notices to the Issuer will be directed to it at the address of the Issuer set forth
on page 3 of this Agreement.

 

19.
Beneficial Subscribers 

 

19.1
Whether or not explicitly stated in this Agreement, any acknowledgement, representation, warranty, covenant or agreement made
by the Subscriber in this Agreement, including the exhibits hereto, will be treated as if made by the Disclosed Beneficial
Purchaser, if any.

 

20.
Execution of Subscription Agreement 

 

20.1
The Issuer and the Issuer’s Counsel will be entitled to rely on delivery by facsimile machine or other means of
electronic communication capable of producing a printed copy of an executed copy of this Agreement, and acceptance by the
Issuer of such facsimile or electronic copy will be equally effective to create a valid and binding agreement between the
Subscriber and the Issuer in accordance with the terms hereof. If less than a complete copy of this Agreement is delivered to
the Issuer or the Issuer’s Counsel prior to or at Closing, the Issuer and the Issuer’s Counsel are entitled to
assume that the Subscriber accepts and agrees to all of the terms and conditions of the pages not delivered prior to or at
Closing unaltered.

 

21.
Counterparts and Electronic Means 

 

21.1
This Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, will constitute
an original and all of which together will constitute one instrument. Delivery of an executed copy of this Agreement by email
or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of
this Agreement as of the Closing.

 

22.
Exhibits 

 

22.1
The exhibits attached hereto form part of this Agreement.

 

    	 	 	 

    	 	-16-	 

    

 

EXHIBIT
A

 

CANADIAN
INVESTOR QUESTIONNAIRE 

 

Capitalized
terms used in this Canadian Investor Questionnaire (this “Questionnaire”) and not specifically defined have
the meaning ascribed to them in the Private Placement Subscription Agreement between the Subscriber (as defined herein) and CurrencyWorks
Inc. (the “Issuer”) to which this Exhibit A is attached with respect to the purchase of units of the Issuer
(the “Units”).

 

In
connection with the purchase by the Subscriber (being the undersigned, or if the undersigned is purchasing the Units as agent
on behalf of a disclosed beneficial Subscriber, such beneficial Subscriber, will be referred herein as the “Subscriber”)
of the Units, the Subscriber hereby represents, warrants and certifies to the Issuer that the Subscriber:

 

		(i)	is
                                         purchasing the Units as principal (or deemed principal under the terms of National Instrument
                                         45-106 – Prospectus Exemptions adopted by the Canadian Securities Administrators
                                         (“NI 45-106”));

 

		(ii)	(A)
                                          is resident in or is subject to the laws of one of the following (check one):

 

	[  ]
    Alberta	[  ]
    New Brunswick	[  ]
    Prince Edward Island
	 	 	 
	[  ]
    British Columbia	[  ]
    Nova Scotia	[  ]
    Quebec
	 	 	 
	[  ]
    Manitoba	[  ]
    Ontario	[  ]
    Saskatchewan
	 	 	 
	[  ]
    Newfoundland and Labrador	[  ]
    Yukon
	 	 
	[  ]
    Northwest Territories	 
	 	 
	[  ]
    United States: _________________________ (List State of Residence)

 

or

 

	 	 (B)
    [  ] is resident in a country other than Canada or the United States; and

 

		(iii)	has
                                         not been provided with any offering memorandum in connection with the purchase of the
                                         Units.

 

In
connection with the purchase of the Units, the Subscriber hereby represents, warrants, covenants and certifies that the Subscriber
meets one or more of the following criteria:

 

	I.	SUBSCRIBERS PURCHASING UNDER THE “ACCREDITED INVESTOR”
    EXEMPTION
	 
	(a) 	the
    Subscriber is not a trust company or trust company registered under the laws of Prince Edward Island that is not registered
    or authorized under the Trust and Loan Companies Act (Canada) or under comparable legislation in another jurisdiction
    of Canada,
	 	 
	(b) 	___________ the
    Subscriber is an “accredited investor” within the meaning of NI 45-106, by virtue of satisfying the indicated
    criterion below (YOU MUST INITIAL OR PLACE A CHECK-MARK ON THE APPROPRIATE LINE(S)) (see certain guidance with respect
    to accredited investors that starts on page 20 below)
	 	 
		[  ]	(i) 	except
    in Ontario, a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer,

 

    	 	 	 

    	 	-17-	 

    

 

		[  ]	(ii) 	an
    individual registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred
    to in paragraph (i),
	 	 	 	 
		[  ]	(iii) 	an
    individual formerly registered under the securities legislation of a jurisdiction of Canada, other than an individual formerly
    registered solely as a representative of a limited market dealer under one or both of the Securities Act (Ontario)
    or the Securities Act (Newfoundland and Labrador),
	 	 	 	 
		[  ]	(iv) 	an
    individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that,
    before taxes but net of any related liabilities, exceeds $1,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX “A”
    TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 29),
	 	 	 	 
		[  ]	(v) 	an
    individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related
    liabilities, exceeds $5,000,000,
	 	 	 	 
		[  ]	(vi) 	an
    individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income
    before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either
    case, reasonably expects to exceed that net income level in the current calendar year (YOU MUST ALSO COMPLETE AND SIGN
    APPENDIX “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 29),
	 	 	 	 
		[  ]	(vii) 	an
    individual who, either alone or with a spouse, has net assets of at least $5,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX
    “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE9),
	 	 	 	 
		[  ]	(viii) 	a
    person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently
    prepared financial statements and that has not been created or used solely to purchase or hold securities as an accredited
    investor as defined in this paragraph (viii),

 

	 	[  ]	(ix) 	an investment fund that distributes or has distributed its securities only to:
	 	 	 	 	 
	 	 	 	(i)	a person that is or was an accredited investor at the time of the distribution,
	 	 	 	 	 
	 	 	 	(ii)	a person that acquires or acquired securities in the circumstances referred to in Sections 2.10 [Minimum amount investment] of NI 45-106, or 2.19 [Additional investment in investment funds] of NI 45-106, or
	 	 	 	 	 
	 	 	 	(iii)	a person described in paragraph (i) or (ii) that acquires or acquired securities under Section 2.18 [Investment fund reinvestment] of NI 45-106,

 

		[  ]	(x) 	an
    investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the
    regulator or, in Québec, the securities regulatory authority, has issued a receipt,
	 	 	 	 
		[  ]	(xi) 	a
    trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act
    (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a
    fully managed account managed by the trust company or trust corporation, as the case may be,

 

    	 	 	 

    	 	-18-	 

    

 

		[  ]	(xii) 	a
    person acting on behalf of a fully managed account managed by that person, if that person is registered or authorized to carry
    on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction,
	 	 	 	 
		[  ]	(xiii) 	a
    registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility
    adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice
    on the securities being traded,
	 	 	 	 
		[  ]	(xiv) 	an
    entity organized in a foreign jurisdiction that is analogous to the entity referred to in paragraph (i) in form and function,
    or
	 	 	 	 
		[  ]	(xv) 	a
    person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required
    by law to be owned by directors, are persons that are accredited investors, and
	 	 	 	 
	(c) 	if
    the Subscriber is an “accredited investor” within the meaning of NI 45-106 by virtue of satisfying the indicated
    criterion as set out in paragraphs (iv), (vi) or (vii) above, the Subscriber has provided the Issuer with the signed risk
    acknowledgment form set out in Appendix “A” to this Questionnaire;

 

	II.	SUBSCRIBERS PURCHASING UNDER THE “FAMILY, FRIENDS
    AND BUSINESS ASSOCIATES” EXEMPTION
	 
	(a) 	the
    Subscriber is (please initial or place a check-mark on the appropriate line below and provide the requested information, as
    applicable):
	 	 
	 	[  ]	(xvi) 	a
    director, executive officer or control person of the Issuer, or of an affiliate of the Issuer,
	 	 	 	 
	 	[  ]	(xvii) 	a
    spouse, parent, grandparent, brother, sister, child or grandchild of _________________________________ (print name of person),
    who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,
	 	 	 	 
	 	[  ]	(xviii) 	a
    parent, grandparent, brother, sister, child or grandchild of the spouse of ___________________________________ (print name
    of person), who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,
	 	 	 	 
	 	[  ]	(xix) 	 _________a
                                         close personal friend (see guidance on making this determination that starts on page
                                         25 below) of ___________________________________ (print name of person), who
                                         is a director, executive officer, founder or control person of the Issuer, or of an affiliate
                                         of the Issuer, and has been for __________________________ years based on the following
                                         factors:

                                                                              

	 	 	 	_________________________________________________________________________________
	 	 	 	_________________________________________________________________________________

                                                                              __________________________________________________________________________________

	 	 	 	___________________________________________________________________________________
	 	 	 	____________________(explain
    the nature of the close personal friendship),

 

    	 	 	 

    	 	-19-	 

    

 

	 	[  ]	(xx) 	a
        close business associate (see guidance on making this determination that starts on page 26 below) of ___________________________________
        (print name of person), who is a director, executive officer, founder or control person of the Issuer, or of an
        affiliate of the Issuer, and has been for __________________________ years based on the following factors _________________________________________________________________________________

        _________________________________________________________________________________

        _________________________________________________________________________________

        _________________________________________________________________________________

        _______________________________________________________
        (explain the nature of the close business association),

	 	 	 	 
	 	[  ]	(xxi) 	a
        founder of the Issuer or a spouse, parent, grandparent, brother, sister, child, grandchild, close personal friend or close
        business associate (see guidance on making these determinations that starts on page 26 below) of ________________________________
        (print name of person), who is a founder of the Issuer, and, if a close personal friend or close business associate
        of such person, has been for __________________________ years based on the following factors:

                                                                              __________________________________________________________________________________ 

        

        _________________________________________________________________________________

        _________________________________________________________________________________

        _________________________________________________________________________________

        ________________________________________________________(explain
        the nature of the close personal friendship or business association),

	 	 	 	 
	 	[  ]	(xxii) 	a parent, grandparent, brother, sister, child
    or grandchild of the spouse of ______________________________ (print name of person), who is a founder of the Issuer,
	 	 	 	 
	 	[  ]	(xxiii) 	a company of which a majority of the voting
    securities are beneficially owned by, or a majority of the directors are, persons or companies described in subsections II(a)(i)
    to II(a)(vii) above, or
	 	 	 	 
	 	[  ]	(xxiv) 	a trust or estate of which all of the beneficiaries
    or a majority of the trustees or executors are persons or companies described in subsections II(a)(i) to II(a)(viii) above,
    
	 	 	 	 
	(b)	if the Subscriber is resident in
    the Province of Ontario or is subject to the securities laws of the Province of Ontario, the Subscriber has provided the Issuer
    with a signed risk acknowledgement form (to be provided by the Issuer on request), and
	 	 	 	 
	(c)	if the Subscriber is resident in
    the Province of Saskatchewan or is subject to the securities laws of the Province of Saskatchewan, and the Subscriber is relying
    on the indicated criterion as set out in subsections II(a)(iv), II(a)(v) or II(a)(viii) or II(a)(ix) if the distribution is
    based in whole or in part on a close personal friendship or a close business association, the Subscriber has provided the
    Issuer with a signed risk acknowledgement form (to be provided by the Issuer on request). 

 

	III. 	SUBSCRIBERS PURCHASING UNDER THE “EMPLOYEE, EXECUTIVE
    OFFICER, DIRECTOR AND CONSULTANT” EXEMPTION
	 
	(a) 	the
    Subscriber is (please initial or place a check-mark on the appropriate line below):
	 	 
	 	[  ]	(i) 	an
    employee, executive officer, director or consultant of the Issuer;
	 	 	 	 
	 	[  ]	(ii) 	an
    employee, executive officer, director or consultant of a related entity of the Issuer; or
	 	 	 	 
	 	[  ]	(iii) 	a
    permitted assign of a person referred to in paragraphs (a)(i) or (a)(ii); and

 

    	 	 	 

    	 	-20-	 

    

 

	(b)	the
    Subscriber covenants, represents and warrants to the Issuer that:
	 	 
	 	 	(i) 	in
    the case of a Subscriber that is an employee or an employee’s permitted assign, the Subscriber is not induced to participate
    in the distribution by expectation of employment or continued employment of the employee with the Issuer or a related entity
    of the Issuer;
	 	 	 	 
	 	 	(ii) 	in
    the case of a Subscriber that is an executive officer or an executive officer’s permitted assign, the Subscriber is
    not induced to participate in the distribution by expectation of appointment, employment, continued appointment or continued
    employment of the executive officer with the Issuer or a related entity of the Issuer;
	 	 	 	 
	 	 	(iii) 	in
    the case of a Subscriber that is a consultant or a consultant’s permitted assign, the Subscriber is not induced to participate
    in the distribution by expectation of engagement of the consultant to provide services or continued engagement of the consultant
    to provide services to the Issuer or a related entity of the Issuer; or
	 	 	 	 
	 	 	(iv) 	in
    the case of a Subscriber that is an employee of a consultant, the Subscriber is not induced by the Issuer, a related entity
    of the Issuer, or the consultant to participate in the distribution by expectation of employment or continued employment with
    the consultant.

 

	IV.	MINIMUM
    AMOUNT INVESTMENT 
	 
	(a) 	the
    Subscriber is not an individual as that term is defined in applicable Canadian securities laws,
	 	 
	(b) 

        

        
	the
    Subscriber is purchasing the Units as principal for its own account and not for the benefit of any other person,
	 	 
	(c) 	the
    Units have an acquisition cost to the Subscriber of not less than $150,000, payable in cash at the Closing, and
	 	 
	(d) 	the
    Subscriber was not created and is not being used solely to purchase or hold securities in reliance on the prospectus exemption
    provided under Section 2.10 of NI 45-106, it pre-existed the Offering and has a bona fide purpose other than investment in
    the Units. 

 

For
the purposes of the this Questionnaire and Appendix “A” attached to this Questionnaire:

 

		(a)	an
                                         issuer is “affiliated” with another issuer if

 

		(i)	one
                                         of them is the subsidiary of the other, or

 

		(ii)	each
                                         of them is controlled by the same person;

 

		(b)	“consultant”
                                         means, for an issuer, a person, other than an employee, executive officer, or director
                                         of the issuer or of a related entity of the issuer, that:

 

		(i)	is
                                         engaged to provide services to the issuer or a related entity of the issuer, other than
                                         services provided in relation to a distribution,

 

		(ii)	provides
                                         the services under a written contract with the issuer or a related entity of the issuer,
                                         and

 

    	 	 	 

    	 	-21-	 

    

  

		(iii)	spends
                                         or will spend a significant amount of time and attention on the affairs and business
                                         of the issuer or a related entity of the issuer

 

and
includes

 

		(iv)	for
                                         an individual consultant, a corporation of which the individual consultant is an employee
                                         or shareholder, and a partnership of which the individual consultant is an employee or
                                         partner, and

 

		(v)	for
                                         a consultant that is not an individual, an employee, executive officer, or director of
                                         the consultant, provided that the individual employee, executive officer, or director
                                         spends or will spend a significant amount of time and attention on the affairs and business
                                         of the issuer or a related entity of the issuer;

 

		(c)	“control
                                         person” means

 

		(i)	a
                                         person who holds a sufficient number of the voting rights attached to all outstanding
                                         voting securities of an issuer to affect materially the control of the issuer, or

 

		(ii)	each
                                         person in a combination of persons, acting in concert by virtue of an agreement, arrangement,
                                         commitment or understanding, which holds in total a sufficient number of the voting rights
                                         attached to all outstanding voting securities of an issuer to affect materially the control
                                         of the issuer,

 

and,
if a person or combination of persons holds more than 20% of the voting rights attached to all outstanding voting securities of
an issuer, the person or combination of persons is deemed, in the absence of evidence to the contrary, to hold a sufficient number
of the voting rights to affect materially the control of the issuer;

 

		(d)	director”
                                         means

 

		(i)	a
                                         member of the board of directors of a company or an individual who performs similar functions
                                         for a company, and

 

		(ii)	with
                                         respect to a person that is not a company, an individual who performs functions similar
                                         to those of a director of a company;

 

		(e)	“executive
                                         officer” means, for an issuer, an individual who is

 

		(i)	a
                                         chair, vice-chair or president,

 

		(ii)	a
                                         vice-president in charge of a principal business unit, division or function including
                                         sales, finance or production, or

 

		(iii)	performing
                                         a policy-making function in respect of the issuer;

 

		(f)	“financial
                                         assets” means

 

		(i)	cash,

 

		(ii)	securities,
                                         or

 

		(iii)	a
                                         contract of insurance, a deposit or an evidence of a deposit that is not a security for
                                         the purposes of securities legislation;

 

    	 	 	 

    	 	-22-	 

    

 

		(g)	“founder”
                                         means, in respect of an issuer, a person who,

 

		(i)	acting
                                         alone, in conjunction, or in concert with one or more persons, directly or indirectly,
                                         takes the initiative in founding, organizing or substantially reorganizing the business
                                         of the issuer, and

 

		(ii)	at
                                         the time of the distribution or trade is actively involved in the business of the issuer”;

 

		(h)	“holding
                                         entity” means a person that is controlled by an individual;

 

		(i)	“individual”
                                         means a natural person, but does not include

 

		(i)	a
                                         partnership, unincorporated association, unincorporated syndicate, unincorporated organization
                                         or trust, or

 

		(ii)	a
                                         natural person in the person’s capacity as a trustee, executor, administrator or
                                         personal or other legal representative;

 

		(j)	“permitted
                                         assign” means, for a person that is an employee, executive officer, director
                                         or consultant of an issuer or of a related entity of the issuer,

 

		(i)	a
                                         trustee, custodian, or administrator acting on behalf of, or for the benefit of the person,

 

		(ii)	a
                                         holding entity of the person,

 

		(iii)	a
                                         RRSP, RRIF, or TFSA (each as defined in NI 45-106) of the person,

 

		(iv)	a
                                         spouse of the person,

 

		(v)	a
                                         trustee, custodian, or administrator acting on behalf of, or for the benefit of the spouse
                                         of the person,

 

		(vi)	a
                                         holding entity of the spouse of the person, or

 

		(vii)	a
                                         RRSP, RRIF, or TFSA of the spouse of the person;

 

		(k)	“person”
                                         includes

 

		(i)	an
                                         individual,

 

		(ii)	a
                                         corporation,

 

		(iii)	a
                                         partnership, trust, fund and an association, syndicate, organization or other organized
                                         group of persons, whether incorporated or not, and

 

		(iv)	an
                                         individual or other person in that person’s capacity as a trustee, executor, administrator
                                         or personal or other legal representative;

 

		(l)	“related
                                         entity” means, for an issuer, a person that controls or is controlled by the
                                         issuer or that is controlled by the same person that controls the issuer;

 

    	 	 	 

    	 	-23-	 

    

 

		(m)	“related
                                         liabilities” means

 

		(i)	liabilities
                                         incurred or assumed for the purpose of financing the acquisition or ownership of financial
                                         assets, or

 

		(ii)	liabilities
                                         that are secured by financial assets, and

 

		(n)	“spouse”
                                         means, an individual who,

 

		(i)	is
                                         married to another individual and is not living separate and apart within the meaning
                                         of the Divorce Act (Canada), from the other individual,

 

		(ii)	is
                                         living with another individual in a marriage-like relationship, including a marriage-like
                                         relationship between individuals of the same gender, or

 

		(iii)	in
                                         Alberta, is an individual referred to in paragraph (i) or (ii), or is an adult interdependent
                                         partner within the meaning of the Adult Interdependent Relationships Act (Alberta).

 

Guidance
On Accredited Investor Exemptions for Individuals 

 

An
individual accredited investor is an individual:

 

		(a)	who,
                                         either alone or with a spouse, beneficially owns financial assets (please see the guidance
                                         below regarding what financial assets are) having an aggregate realizable value that.
                                         before taxes but net of any related liabilities (please see the guidance below regarding
                                         what related liabilities are), exceeds $1,000,000;

 

		(b)	whose
                                         net income before taxes exceeded $200,000 in each of the 2 most recent calendar years
                                         or whose net income before taxes combined with that of a spouse exceeded $300,000 in
                                         each of the 2 most recent calendar years and who, in either case, reasonably expects
                                         to exceed that net income level in the current calendar year;

 

		(c)	who,
                                         either alone or with a spouse, has net assets (please see the guidance below regarding
                                         calculating net assets) of at least $5,000,000; and

 

		(d)	who
                                         beneficially owns financial assets (please see the guidance below regarding what financial
                                         assets are) having an aggregate realizable value that, before taxes but net of any related
                                         liabilities (please see the guidance below regarding what related liabilities are), exceeds
                                         $5,000,000.

 

The
monetary thresholds above are intended to create bright-line standards. Subscribers who do not satisfy these monetary thresholds
do not qualify as accredited investors.

 

Spouses

 

Sections
(a), (b) and (c) above are designed to treat spouses as a single investing unit, so that either spouse qualifies as an accredited
investor if the combined financial assets of both spouses exceed $1,000,000, the combined net income of both spouses exceeds $300,000,
or the combined net assets of both spouses exceed $5,000,000. Section (d) above does not treat spouses as a single investing unit.

 

If
the combined net income of both spouses does not exceed $300,000, but the net income of one of the spouses exceeds $200,000, only
the spouse whose net income exceeds $200,000 qualifies as an accredited investor.

 

    	 	 	 

    	 	-24-	 

    

 

Financial
Assets and Related Liabilities 

 

For
the purposes of Sections (a) and (d) above, “financial assets” means: (1) cash, (2) securities, or (3) a contract
of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation. These financial
assets are generally liquid or relatively easy to liquidate. The value of a subscriber’s personal residence is not included
in a calculation of financial assets.

 

The
calculation of financial assets must exclude “related liabilities”, meaning: (1) liabilities incurred or assumed
for the purpose of financing the acquisition or ownership of financial assets, or (2) liabilities that are secured by financial
assets.

 

As
a general matter, it should not be difficult to determine whether financial assets are beneficially owned by an individual, an
individual’s spouse, or both, in any particular instance. However, in the case where financial assets are held in a trust
or in another type of investment vehicle for the benefit of an individual, there may be questions as to whether the individual
beneficially owns the financial assets. The following factors are indicative of beneficial ownership of financial assets:

 

		●	physical
                                         or constructive possession of evidence of ownership of the financial asset; 

 

		●	entitlement
                                         to receipt of any income generated by the financial asset; 

  

		●	risk
                                         of loss of the value of the financial asset; and 

  

		●	the
                                         ability to dispose of the financial asset or otherwise deal with it as the individual
                                         sees fit. 

 

For
example, securities held in a self-directed RRSP for the sole benefit of an individual are beneficially owned by that individual.

 

In
general, financial assets in a spousal RRSP can be included for the purposes of the $1,000,000 financial asset test in Section
(a) above because Section (a) takes into account financial assets owned beneficially by a spouse. However, financial assets in
a spousal RRSP cannot be included for purposes of the $5,000,000 financial asset test in Section (d) above.

 

Financial
assets held in a group RRSP under which the individual does not have the ability to acquire the financial assets and deal with
them directly do not meet the beneficial ownership requirements in either Sections (a) or (d) above.

 

Net
Assets 

 

For
the purposes of Section (c) above, “net assets” means all of a subscriber’s total assets minus all of
the subscriber’s total liabilities. Accordingly, for the purposes of the net asset test, the calculation of total assets
includes the value of a subscriber’s personal residence, and the calculation of total liabilities includes the amount of
any liability (such as a mortgage) in respect of the subscriber’s personal residence.

 

To
calculate a subscriber’s net assets under the net asset test, subtract the subscriber’s total liabilities from the
subscriber’s total assets. The value attributed to assets should reasonably reflect their estimated fair value. Income tax
is considered a liability if the obligation to pay it is outstanding at the time of the distribution of the security to the subscriber
by the Issuer.

 

Guidance
On Accredited Investor Exemptions for Corporations, Trusts and Other Entities 

 

Accredited
investors that are corporations, trusts or other entities include:

 

		(a)	a
                                         corporation, trust or other entity, other than an investment fund, that has net assets
                                         (please see the guidance below regarding calculating net assets) of at least $5,000,000
                                         as shown on its most recently prepared financial statements in accordance with applicable
                                         generally accepted accounting principles and that has not been created or used solely
                                         to purchase or hold securities as an accredited investor;

 

    	 	 	 

    	 	-25-	 

    

 

		(b)	a
                                         corporation, trust or other entity in respect of which all of the owners of interests,
                                         direct, indirect or beneficial, except the voting securities required by law to be owned
                                         by directors, are persons that are accredited investors; and

 

		(c)	a
                                         trust established by an accredited investor for the benefit of the accredited investor’s
                                         family members of which a majority of the trustees are accredited investors and all of
                                         the beneficiaries are the accredited investor’s spouse, a former spouse of the
                                         accredited investor or a parent, grandparent, brother, sister, child or grandchild of
                                         that accredited investor, of that accredited investor’s spouse or of that accredited
                                         investor’s former spouse.

 

Net
Assets 

 

For
the purposes of Section (a) above, “net assets” means all of the subscriber’s total assets minus all
of the subscriber’s total liabilities. The minimum net asset threshold of $5,000,000 specified in Section (a) above must
be shown on the entity’s most recently prepared financial statements. The financial statements must be prepared in accordance
with applicable generally accepted accounting principles.

 

Guidance
on Close Personal Friend and Close Business Associate Determination 

 

A
“close personal friend” of a director, executive officer, founder or control person of an issuer is an individual
who knows the director, executive officer, founder or control person well enough and has known them for a sufficient period of
time to be in a position to assess their capabilities and trustworthiness and to obtain information from them with respect to
the investment.

 

The
following factors are relevant to this determination:

 

		(a)	the
                                         length of time the individual has known the director, executive officer, founder or control
                                         person,

 

		(b)	the
                                         nature of the relationship between the individual and the director, executive officer,
                                         founder or control person including such matters as the frequency of contacts between
                                         them and the level of trust and reliance in the other circumstances, and

 

		(c)	the
                                         number of “close personal friends” of the director, executive officer, founder
                                         or control person to whom securities have been distributed in reliance on the private
                                         issuer exemption or the family, friends and business associates exemption.

 

An
individual is not a close personal friend solely because the individual is:

 

		(a)	a
                                         relative,

 

		(b)	a
                                         member of the same club, organization, association or religious group,

 

		(c)	a
                                         co-worker, colleague or associate at the same workplace,

 

		(d)	a
                                         client, customer, former client or former customer,

 

		(e)	a
                                         mere acquaintance, or

 

		(f)	connected
                                         through some form of social media, such as Facebook, Twitter or LinkedIn.

 

    	 	 	 

    	 	-26-	 

    

 

The
relationship between the individual and the director, executive officer, founder or control person must be direct. For example,
the exemption is not available to a close personal friend of a close personal friend of a director of the issuer. Further, a relationship
that is primarily founded on participation in an internet forum is not considered to be that of a close personal friend.

 

A
“close business associate” is an individual who has had sufficient prior business dealings with a director,
executive officer, founder or control person of the issuer to be in a position to assess their capabilities and trustworthiness
and to obtain information from them with respect to the investment.

 

The
following factors are relevant to this determination:

 

		(a)	the
                                         length of time the individual has known the director, executive officer, founder or control
                                         person,

 

		(b)	the
                                         nature of any specific business relationships between the individual and the director,
                                         executive officer, founder or control person, including, for each relationship, when
                                         it began, the frequency of contact between them and when it terminated if it is not ongoing,
                                         and the level of trust and reliance in the other circumstances,

 

		(c)	the
                                         nature and number of any business dealings between the individual and the director, executive
                                         officer, founder or control person, the length of the period during which they occurred,
                                         and the nature and date of the most recent business dealing, and

 

		(d)	the
                                         number of “close business associates” of the director, executive officer,
                                         founder or control person to whom securities have been distributed in reliance on the
                                         private issuer exemption or the family, friends and business associates exemption.

 

An
individual is not a close business associate solely because the individual is:

 

		(a)	a
                                         member of the same club, organization, association or religious group,

 

		(b)	a
                                         co-worker, colleague or associate at the same workplace,

 

		(c)	a
                                         client, customer, former client or former customer,

 

		(d)	a
                                         mere acquaintance, or

 

		(e)	connected
                                         through some form of social media, such as Facebook, Twitter or LinkedIn.

 

The
relationship between the individual and the director, executive officer, founder or control person must be direct. For example,
the exemptions are not available for a close business associate of a close business associate of a director of the issuer. Further,
a relationship that is primarily founded on participation in an internet forum is not considered to be that of a close business
associate.

 

The
Subscriber agrees that the above representations and warranties will be true and correct both as of the execution of this Questionnaire
and as of the Closing and acknowledges that they will survive the completion of the issue of the Units.

 

The
Subscriber acknowledges that the foregoing representations and warranties are made by the Subscriber with the intent that they
be relied upon in determining the suitability of the Subscriber to acquire the Units and that this Questionnaire is incorporated
into and forms part of the Agreement and the undersigned undertakes to immediately notify the Issuer of any change in any statement
or other information relating to the Subscriber set forth herein which takes place prior to the closing time of the purchase and
sale of the Units.

 

The
Subscriber undertakes to immediately notify the Issuer of any change in any statement or other information relating to the Subscriber
set forth in the Agreement or in this Questionnaire which takes place prior to the Closing.

 

By
completing this Questionnaire, the Subscriber authorizes the indirect collection of this information by each applicable regulatory
authority or regulator and acknowledges that such information is made available to the public under applicable laws. 

 

DATED
as of _____________day of ______________, 2020.

 

	 	 
	 	Print Name of Subscriber (or person signing as agent of the Subscriber)
	 	 	 
	 	By:	 
	 	 	Signature
	 	 	 
	 	 
	 	Print Name and Title of Authorized  
	 	Signatory (if Subscriber is not an individual)

 

    	 	 	 

    	 	-27-	 

    

 

APPENDIX
“A”

TO
CANADIAN INVESTOR QUESTIONNAIRE

 

Form
45-106F9

 

	WARNING!

         

        This
        investment is risky. Don’t invest unless you can afford to lose all the money you pay for this investment.

 

	SECTION
    1 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER
	1.
    About your investment
	Type
    of securities: Units of the Issuer at a price of CAD$0.05 per Unit. Each Unit will consist of one common share in the capital
    of the Issuer and one warrant. Each warrant will entitle the holder thereof to purchase one common share in the capital of
    the Issuer, as presently constituted, for a period of two years following the date of issue of the units at an exercise price
    of CAD$0.10 per share.	Issuer:
    CURRENCYWORKS INC. (the “Issuer”)
	Purchased
    from: The Issuer.
	SECTIONS
    2 TO 4 TO BE COMPLETED BY THE PURCHASER

	2.
    Risk acknowledgement
	This
    investment is risky. Initial that you understand that:	Your

        initials

	Risk
    of loss – You could lose your entire investment of $. [Instruction: Insert the total dollar amount of the investment.]	 
	Liquidity
    risk – You may not be able to sell your investment quickly – or at all.	 
	Lack
    of information – You may receive little or no information about your investment.	 
	Lack
    of advice – You will not receive advice from the salesperson about whether this investment is suitable for you unless
    the salesperson is registered. The salesperson is the person who meets with, or provides information to, you about making
    this investment. To check whether the salesperson is registered, go to www.aretheyregistered.ca.	 

	3.
    Accredited investor status
	You
    must meet at least one of the following criteria to be able to make this investment. Initial the statement that applies to
    you. (You may initial more than one statement.) The person identified in section 6 is responsible for ensuring that you meet
    the definition of accredited investor. That person, or the salesperson identified in section 5, can help you if you have questions
    about whether you meet these criteria.	Your

        initials

	● 	Your net income before taxes was more than $200,000 in each of the 2 most recent calendar years, and you expect it to be more
    than $200,000 in the current calendar year. (You can find your net income before taxes on your personal income tax return.)	 

 

    	 	 	 

    	 	-28-	 

    

 

	● 	Your net income before taxes combined with your spouse’s was more than $300,000 in each of the 2 most recent calendar
    years, and you expect your combined net income before taxes to be more than $300,000 in the current calendar year.	 
	● 	Either alone or with your spouse, you own more than $1 million in cash and securities, after subtracting any debt related
    to the cash and securities.	 
	● 	Either alone or with your spouse, you have net assets worth more than $5 million. (Your net assets are your total assets (including
    real estate) minus your total debt.)	 

	4.
    Your name and signature
	By
    signing this form, you confirm that you have read this form and you understand the risks of making this investment as identified
    in this form.
	First
    and last name (please print):
	Signature:	Date:
	SECTION
    5 TO BE COMPLETED BY THE SALESPERSON

	5.
    Salesperson information
	[Instruction:
    The salesperson is the person who meets with, or provides information to, the purchaser with respect to making this investment.
    That could include a representative of the issuer or selling security holder, a registrant or a person who is exempt from
    the registration requirement.]
	First
    and last name of salesperson (please print):
	Telephone:	Email:
	Name
    of firm (if registered):
	SECTION
    6 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER

	6.
    For more information about this investment
	For
    investment in a non-investment fund
	CURRENCYWORKS
    INC.
	561
                                         Indiana Court

        Los
        Angeles, CA 90291

	Attn:
    Michael Blum
	Telephone:
    213.675.5300
	Email:
    Michael.Blum@currencyworks.io
	 
	For
    more information about prospectus exemptions, contact your local securities regulator. You can find contact information at
    www.securities-administrators.ca.

 

	Form
    instructions:
	 
	1.	This
form does not mandate the use of a specific font size or style but the font must be legible
	 	 
	2.	The
    information in sections 1, 5 and 6 must be completed before the purchaser completes and signs the form.
	 	 
	3.	The
    purchaser must sign this form. Each of the purchaser and the issuer or selling security holder must receive a copy of this
    form signed by the purchaser. The issuer or selling security holder is required to keep a copy of this form for 8 years after
    the distribution.

 

    	 	 	 

    	 	-29-	 

    

 

EXHIBIT
B

 

UNITED
STATES ACCREDITED INVESTOR QUESTIONNAIRE

 

Capitalized
terms used in this United States Accredited Investor Questionnaire (this “Questionnaire”) and not specifically
defined have the meaning ascribed to them in the Private Placement Subscription Agreement between the undersigned (the “Subscriber”)
and CurrencyWorks Inc. (the “Issuer”) to which this Questionnaire is attached.

 

This
Questionnaire applies only to persons that are U.S. Purchasers. A “U.S. Purchaser” is: (a) any U.S. Person,
(b) any person purchasing the Units on behalf of any U.S. Person, (c) any person that receives or received an offer of the Units
while in the United States, or (d) any person that is in the United States at the time the Subscriber’s buy order was made
or this Agreement was executed or delivered.

 

The
Subscriber understands and agrees that none of the Securities have been or will be registered under the 1933 Act, or applicable
state, provincial or foreign securities laws, and the Securities are being offered and sold to the Subscriber in reliance upon
the exemption provided in Section 4(2) of the 1933 Act and Rule 506 of Regulation D under the 1933 Act for non-public offerings.
The Securities are being offered and sold within the United States only to “accredited investors” as defined in Rule
501(a) of Regulation D. The Securities offered hereby are not transferable except in accordance with the restrictions described
herein.

 

The
Subscriber represents, warrants, covenants and certifies (which representations, warranties, covenants and certifications will
survive the Closing) to the Issuer (and acknowledges that the Issuer is relying thereon) that:

 

	1.	it
    is not resident in Canada;
	 	 
	2.	is
    a current security holder of the Issuer or has a substantive pre-existing relationship with the Issuer (as described above);
	 	 
	3.	it
    has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of
    an investment in the Securities and it is able to bear the economic risk of loss of its entire investment;
	 	 
	4.	the
    Issuer has provided to it the opportunity to ask questions and receive answers concerning the terms and conditions of the
    Offering and it has had access to such information concerning the Issuer as it has considered necessary or appropriate in
    connection with its investment decision to acquire the Securities;
	 	 
	5.	it
    is acquiring the Units for its own account, for investment purposes only and not with a view to any resale, distribution or
    other disposition of the Securities in violation of the United States securities laws;
	 	 
	6.	it
    (i) has adequate net worth and means of providing for its current financial needs and possible personal contingencies, (ii)
    has no need for liquidity in this investment, and (iii) is able to bear the economic risks of an investment in the Units for
    an indefinite period of time;

 

    	 	 	 

    	 	-30-	 

    

 

	7.	if
    the Subscriber is an individual (that is, a natural person and not a corporation, partnership, trust or other entity), then
    it satisfies one or more of the categories indicated below (please place an “X” on the appropriate lines):

  

	 	____________	a
    natural person whose individual net worth, or joint net worth with that person’s spouse, exceeds US$1,000,000. For purposes
    of this category, “net worth” means the excess of total assets at fair market value (including personal and real
    property, but excluding the estimated fair market value of a person’s primary residence/home) over total liabilities.
    Total liabilities excludes any mortgage on the primary residence/home in an amount of up to the home’s estimated fair
    market value as long as the mortgage was incurred more than 60 days before the Units are purchased, but includes (i) any mortgage
    amount in excess of the home’s fair market value and (ii) any mortgage amount that was borrowed during the 60 day period
    before the Closing Date for the purpose of investing in the Units,
	 	 	 
	 	____________	a
    natural person who had an individual income in excess of US$200,000 in each of the two most recent years, or joint income
    with their spouse in excess of US$300,000 in each of those years and has a reasonable expectation of reaching the same income
    level in the current year, or
	 	 	 
	 	____________	a
    director or executive officer of the Issuer;

 

	8.	if
    the Subscriber is a corporation, partnership, trust or other entity), then it satisfies one or more of the categories indicated
    below (please place an “X” on the appropriate lines):

  

	 	____________	an
    organization described in Section 501(c)(3) of the United States Internal Revenue Code, a corporation, a Massachusetts or
    similar business trust or partnership, not formed for the specific purpose of acquiring the Units, with total assets in excess
    of US$5,000,000,
	 	 	 
	 	____________	a
    “bank” as defined under Section (3)(a)(2) of the 1933 Act or savings and loan association or other institution
    as defined in Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary capacity; a broker dealer registered
    pursuant to Section 15 of the Securities Exchange Act of 1934 (United States); an insurance company as defined in Section
    2(13) of the 1933 Act; an investment company registered under the Investment Company Act of 1940 (United States) or
    a business development company as defined in Section 2(a)(48) of such Act; a Small Business Investment Company licensed by
    the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958 (United
    States); a plan with total assets in excess of US$5,000,000 established and maintained by a state, a political subdivision
    thereof, or an agency or instrumentality of a state or a political subdivision thereof, for the benefit of its employees;
    an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (United States)
    whose investment decisions are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank,
    savings and loan association, insurance company or registered investment adviser, or if the employee benefit plan has total
    assets in excess of US$5,000,000, or, if a self-directed plan, whose investment decisions are made solely by persons that
    are accredited investors,
	 	 	 
	 	____________	a
    private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940 (United
    States),

 

    	 	 	 

    	 	-31-	 

    

 

	 	___________	a
    trust with total assets in excess of US$5,000,000, not formed for the specific purpose of acquiring the Units, whose purchase
    is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the 1933 Act, or
	 	 	 
	 	___________	an
    entity in which all of the equity owners satisfy the requirements of one or more of the categories set forth in Section 6
    of this Questionnaire;

 

	9.	it
    has not purchased the Units as a result of any form of general solicitation or general advertising, including advertisements,
    articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, internet,
    television or other form of telecommunications, or any seminar or meeting whose attendees have been invited by general solicitation
    or general advertising;

 

	10.	if
    the Subscriber decides to offer, sell or otherwise transfer any of the Securities, it will not offer, sell or otherwise transfer
    any of such Securities, directly or indirectly, unless:

 

	 	(a)	the
    sale is to the Issuer,
	 	 	 
	 	(b)	the
    sale is made outside the United States in a transaction meeting the requirements of Rule 904 of Regulation S under the 1933
    Act and in compliance with applicable local laws and regulations in which such sale is made;
	 	 	 
	 	(c)	the
    sale is made pursuant to the exemption from the registration requirements under the 1933 Act provided by Rule 144 thereunder
    and in accordance with any applicable state securities or “blue sky” laws, or
	 	 	 
	 	(d)	the
    Securities are sold in a transaction that does not require registration under the 1933 Act or any applicable state laws and
    regulations governing the offer and sale of securities, and
	 	 	 
	 	(e)	it
    has, prior to such sale pursuant to subsection (c) or (d), furnished to the Issuer an opinion of counsel of recognized standing
    reasonably satisfactory to the Issuer, to such effect;

 

	11.	it
    understands and acknowledges that, upon the issuance thereof, and until such time as the same is no longer required under
    the applicable requirements of the 1933 Act or applicable U.S. state laws and regulations, the certificates representing the
    Securities, and all securities issued in exchange therefor or in substitution thereof, will bear a legend (in addition to
    the legends required by Canadian securities laws and the Exchange) in substantially the following form:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S.
SECURITIES ACT”). THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF CURRENCYWORKS INC. (THE
“ISSUER”) THAT SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE ISSUER; (B) OUTSIDE THE
UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT OR (C) IN ACCORDANCE WITH THE EXEMPTION
FROM REGISTRATION UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE
STATE SECURITIES LAWS; OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE
STATE SECURITIES LAWS, AND, IN THE CASE OF PARAGRAPH (C) OR (D), THE SELLER FURNISHES TO THE ISSUER AN OPINION OF COUNSEL OF RECOGNIZED
STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO SUCH EFFECT. DELIVERY OF THIS CERTIFICATE MAY NOT CONSTITUTE GOOD
DELIVERY IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.”

 

    	 	 	 

    	 	-32-	 

    

 

Delivery
of certificates bearing such a legend may not constitute “good delivery” in settlement of transactions on Canadian
stock exchanges or over-the-counter markets. If the Issuer is a “foreign issuer” with no “substantial U.S. market
interest” (all within the meaning of Regulation S under the 1933 Act) at the time of sale, a new certificate, which will
constitute “good delivery”, will be made available to the purchaser upon provision to the Issuer by the Subscriber
of a declaration together with such other evidence of the availability of an exemption as the Issuer or its transfer agent may
reasonably require.

 

	12.	it
    consents to the Issuer making a notation on its records or giving instructions to any transfer agent of the Issuer in order
    to implement the restrictions on transfer set forth and described in this Questionnaire and the Agreement; and
	 	 
	13.	it
    is resident in the United States of America, its territories and possessions or any state of the United States or the District
    of Columbia (collectively the “United States”), is a “U.S. Person” as such term is defined
    in Regulation S or was in the United States at the time the Units were offered or the Agreement was executed.

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    	 	 	 

    	 	-33-	 

    

 

The
Subscriber undertakes to notify the Issuer immediately of any change in any representation, warranty or other information relating
to the Subscriber set forth herein which takes place prior to the closing time of the purchase and sale of the Units.

 

Dated
____________________, 2020.

	 	 	X
	 	 	Signature
    of individual (if Subscriber is an individual)
	 	 	 
	 	 	X
	 	 	Authorized
    signatory (if Subscriber is not an individual)
	 	 	 
	 	 	 
	 	 	Name
    of Subscriber (please print)
	 	 	 
	 	 	 
	 	 	Name
    of authorized signatory (please print)

 

    	 	 	 

    	 	-34-	 

    

 

EXHIBIT
C

 

FORM
4C

CORPORATE
PLACEE REGISTRATION FORM

 

This
Form will remain on file with the Exchange and must be completed if required under section 4(b) of Part II of Form 4B. The corporation,
trust, portfolio manager or other entity (the “Placee”) need only file it on one time basis, and it will be referenced
for all subsequent Private Placements in which it participates. If any of the information provided in this Form changes, the Placee
must notify the Exchange prior to participating in further placements with Exchange listed Issuers. If as a result of the Private
Placement, the Placee becomes an Insider of the Issuer, Insiders of the Placee are reminded that they must file a Personal Information
Form (2A) or, if applicable, Declarations, with the Exchange.

 

	1.	Placee Information:
	 	 	 
	 	(a)	Name:
    
	 	 	 
	 	(b)	Complete
    Address: 
	 	 	 
	 	(c)	Jurisdiction
    of Incorporation or Creation: 

 

	2.	(a)	Is
    the Placee purchasing securities as a portfolio manager: (Yes/No)? 
	 	 	 
	 	(b)	Is
    the Placee carrying on business as a portfolio manager outside of Canada:
	 	 	(Yes/No)?
    __________

 

	3.	If
    the answer to 2(b) above was “Yes”, the undersigned certifies that:

 

	 	(a)	it
    is purchasing securities of an Issuer on behalf of managed accounts for which it is making the investment decision to purchase
    the securities and has full discretion to purchase or sell securities for such accounts without requiring the client’s
    express consent to a transaction;
	 	 	 
	 	(b)	it
    carries on the business of managing the investment portfolios of clients through discretionary authority granted by those
    clients (a “portfolio manager” business) in ____________________ [jurisdiction], and it is permitted by law to
    carry on a portfolio manager business in that jurisdiction;

 

	 	(c)	it
    was not created solely or primarily for the purpose of purchasing securities of the Issuer;
	 	 	 
	 	(d)	the
    total asset value of the investment portfolios it manages on behalf of clients is not less than $20,000,000; and
	 	 	 
	 	(e)	it
    has no reasonable grounds to believe, that any of the directors, senior officers and other insiders of the Issuer, and the
    persons that carry on investor relations activities for the Issuer has a beneficial interest in any of the managed accounts
    for which it is purchasing.

 

	4.	If
    the answer to 2(a). above was “No”, please provide the names and addresses of Control Persons of the Placee:

 

	Name
    *	 	City	 	Province
    or State	 	Country
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    	 	 	 

    	 	-35-	 

    

 

*
If the Control Person is not an individual, provide the name of the individual that makes the investment decisions on behalf of
the Control Person.

 

	5.	Acknowledgement
    - Personal Information and Securities Laws

 

	 	(a)	“Personal
    Information” means any information about an identifiable individual, and includes information contained in sections
    1, 2 and 4, as applicable, of this Form.

 

The
undersigned hereby acknowledges and agrees that it has obtained the express written consent of each individual to:

 

	 	 	(i)	the
    disclosure of Personal Information by the undersigned to the Exchange (as defined in Appendix 6B) pursuant to this Form; and
	 	 	 	 
	 	 	(ii)	the
    collection, use and disclosure of Personal Information by the Exchange for the purposes described in Appendix 6B or as otherwise
    identified by the Exchange, from time to time.

 

	 	(b)	The
    undersigned acknowledges that it is bound by the provisions of applicable Securities Law, including provisions concerning
    the filing of insider reports and reports of acquisitions.

 

	Dated
    and certified (if applicable), acknowledged and agreed, at _______________________________________________
	on
    __________________________________ 

 

	 	 
	 	(Name
    of Purchaser - please print)
	 	 
	 	 
	 	(Authorized
    Signature)
	 	 
	 	 
	 	(Official
    Capacity - please print)
	 	 
	 	 
	 	(Please
    print name of individual whose signature
	 	appears
    above)

 

THIS
IS NOT A PUBLIC DOCUMENT

 

    	 	 	 

    	 	-36-	 

    

 

APPENDIX
6B

 

ACKNOWLEDGEMENT
– PERSONAL INFORMATION

 

	1.	TSX
    Venture Exchange Inc. and its affiliates, authorized agents, subsidiaries and divisions, including the TSX Venture Exchange
    (collectively referred to as the “Exchange”) collect Personal Information in certain Forms that are submitted
    by the individual and/or by an Issuer or Applicant and use it for the following purposes:

 

	 	(a)	to
    conduct background checks;
	 	 	 
	 	(b)	to
    verify the Personal Information that has been provided about each individual;
	 	 	 
	 	(c)	to
    consider the suitability of the individual to act as an officer, director, insider, promoter, investor relations provider
    or, as applicable, an employee or consultant, of the Issuer or Applicant;
	 	 	 
	 	(d)	to
    consider the eligibility of the Issuer or Applicant to list on the Exchange;
	 	 	 
	 	(e)	to
    provide disclosure to market participants as to the security holdings of directors, officers, other insiders and promoters
    of the Issuer, or its associates or affiliates;
	 	 	 
	 	(f)	to
    conduct enforcement proceedings; and
	 	 	 
	 	(g)	to
    perform other investigations as required by and to ensure compliance with all applicable rules, policies, rulings
    and regulations of the Exchange, securities legislation and other legal and regulatory requirements governing the conduct
    and protection of the public markets in Canada.

 

As
part of this process, the Exchange also collects additional Personal Information from other sources, including but not
limited to, securities regulatory authorities in Canada or elsewhere, investigative, law enforcement or self-regulatory organizations,
regulations service providers and each of their subsidiaries, affiliates, regulators and authorized agents, to ensure that the
purposes set out above can be accomplished.

 

The
Personal Information the Exchange collects may also be disclosed:

 

	 	(a)	to
    the agencies and organizations in the preceding paragraph, or as otherwise permitted or required by law, and
    they may use it in their own investigations for the purposes described above; and
	 	 	 
	 	(b)	on
    the Exchange’s website or through printed materials published by or pursuant to the directions of the Exchange.

 

The
Exchange may from time to time use third parties to process information and/or provide other administrative services. In this
regard, the Exchange may share the information with such third party service providers.

 

	2.	The
    Commissions may indirectly collect the Personal Information under the authority granted to them by securities legislation.
    The Personal Information is being collected for the purposes of the administration and enforcement of the securities
    legislation of the jurisdiction of each such Commission.

 

For
questions about the collection of Personal Information by the British Columbia Securities Commission, please contact the Administrative
Assistant to the Director of Corporate Finance, 12th Floor, 701 West Georgia Street, Box 10142, Vancouver, BC V7Y 1L2, phone:
(604) 899-6854.

 

    	 	 	 

    	 	-37-	 

    

 

EXHIBIT
D

 

WIRE
INSTRUCTIONS

 

INSTRUCTIONS
FOR WIRING FUNDS TO CLARK WILSON LLP

 

	BENEFICIARY:	CLARK
                                         WILSON LLP

        900-885
        WEST GEORGIA STREET

        VANCOUVER,
        BRITISH COLUMBIA

        CANADA
        V6C 3H1 

	 	 
	BENEFICIARY
    BANK:	BMO
                                         BANK OF MONTREAL

        595
        BURRARD STREET

        VANCOUVER,
        BRITISH COLUMBIA

        CANADA
        V7X 1L7 

	 	 
	SWIFT
                                         CODE:

        BENEFICIARY
        ACCOUNT NUMBER:

        BANK
        TRANSIT NUMBER:

        BANK
        CODE:
	BOFMCAM2

        1024294

        07730

        001

 

IMPORTANT
Instructions for Sending Party:

 

	 	●	Quote
    Clark Wilson LLP VZH/41955-0001
	 	 	 
	 	●	A
    copy of your wire confirmation must be provided to CW
	 	 	 
	 	●	DO
    NOT DIRECT DEPOSIT

 

    	 	 	 

    	 	-38-	 

    

 

EXHIBIT
E

 

WIRE
INSTRUCTIONS

 

INSTRUCTIONS
FOR WIRING FUNDS TO CURRENCYWORKS

 

Wire
Instructions

 

Bank
Info

Metropolitan
Commercial Bank

99
Park Avenue

New
York, NY

 

Routing
Number: 026013356

Swift
Code: MCBEUS33

 

Beneficiary
Info:

CurrencyWorks,
Inc.

 

Account
Number:

 

Operating
Account: 0199010633

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