Document:

Unassociated Document

    SUBSCRIPTION
PROCEDURE

    

    To
Subscribe for Notes and Warrants of

    Novint
Technologies, Inc.

    

    

    
      	
              1.

            	
              Complete and Sign the
      following documents:

               

              A.
      Subscription Agreement

              B.
      Accredited Investor Questionnaire

              C.
      Intercreditor Agreement

               

            
	 
      	 
      
	
              2.

            	
              Fax the signed
      Subscription Agreement and Accredited Investor Questionnaire to, and send
      all signed originals to and form of payment
to:

            

    

    

    Novint
Technologies, Inc.

    Attn:
CEO

    4601
Paradise Boulevard NW, Suite B

    Albuquerque,
New Mexico 87114

    Phone:
505-463-1469

    Fax:
866-298-4420

    

    
      	
              3.

            	
              Please
      make your subscription payment payable to the order of “Novint Technologies,
      Inc.” 

            

    

    

    
      	
              4.

            	
              Wire
      Transfer Instructions if paying by wire
  transfer:

            

    

     

    Wells Fargo Bank, NM

    Routing Number: 121000248

    Account Number: 5737226273

    Account Name: Novint Technologies,
Inc.

    

    Thank you
for your interest.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SUBSCRIPTION
AGREEMENT

    

    This
SUBSCRIPTION AGREEMENT
(“Subscription
Agreement”) is made and entered into as of December 4, 2008 by and among
Novint Technologies,
Inc., a Delaware corporation (“Company”), and the subscribers
whose names and addresses are set forth on the signature page hereto (each a
“Subscriber”).

    

    The Notes
and Warrants are sometimes referred to herein as the “Securities.”

    

    In
connection with this subscription, Subscriber and the Company agree as
follows:

    

    
      
        	
                A.

              	
                Subscription of the
      Subscriber.

              

      

    

     

    1. Purchase of Notes and
Warrants. The undersigned Subscriber hereby irrevocably agrees,
represents and warrants with, to and for the benefit of the Company, that such
Subscriber is executing this Subscription Agreement in connection with the
subscription by the Subscriber for (i) that principal amount of the 8%
Senior Secured Promissory Note (the “Note”) in the form attached
hereto as Exhibit
A in the amount as set forth on the signature page hereof (the “Subscription Price”) (which
aggregate amount for all Subscribers shall be a maximum of $3,000,000, plus up
to an additional $1,250,000 from accredited investors who are qualifying game
publishers, developers or other strategic investors, plus any amount subscribed
to by prior investors who have preemptive rights) and (ii) warrants, in the form
attached hereto as Exhibit B (the “Warrants”) to acquire up to
that number of shares of common stock of the Company equal to the Subscription
Price divided by $1.00 (as exercised, the “Warrant Shares”). The Warrants
are exercisable for a term of five (5) years from December 4, 2008 (the “Initial Closing Date”) at an
exercise price of $1.00 per share.  All principal and interest on the
Note shall be due and payable one year following the Initial Closing
Date.

     

    The
Subscriber understands that the Company is relying upon the accuracy and
completeness of the information contained herein in complying with its
obligations under federal and state securities and other applicable laws.
Subject to the terms and conditions of this Subscription Agreement, upon
execution and delivery hereof by the Subscriber, the Subscriber hereby agrees to
purchase the Securities pursuant to the transaction hereof, and against
concurrent delivery of the purchase price for such shares. The date upon which
the final subscription is accepted by the Company from a Subscriber, the full
Subscription Price has been tendered, and all conditions to closing on such
subscription have been satisfied, shall be a “Closing.”    Following
the Initial Closing Date there may be multiple Closings for additional
subscriptions under this Subscription Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2. Offering. This
offering of the Securities (the “Offering”) is being made to a
limited group of investors, all of whom shall represent to the Company pursuant
to this Subscription Agreement that they are “accredited investors,” as that
term is defined in Regulation D promulgated under the Securities Act of 1933, as
amended (the “Securities
Act”) or who have otherwise been qualified as investors by the Company.
All of the Securities offered hereby are being sold by the Company. The Company
is offering the Securities for the consideration set forth herein. The Offering
is being made on a “best efforts” basis.  The maximum offering by the
Company is $3,000,000 worth of Securities, plus up to an additional $1,250,000
from accredited investors who are qualifying game publishers, developers or
other strategic investors, plus any amount subscribed to by prior investors who
have preemptive rights. This amount may be increased at the Company’s
discretion.  The Offering will terminate on February 9, 2009 (the
“Termination Date”),
unless the Company terminates the offering earlier or extends the Termination
Date up to an additional 45 days.

    

    3. Refinance. In the
event that the Notes are not repaid within one year from the Initial Closing
Date, the Company shall have the option to refinance the Notes and the accrued
interest with 10% Convertible Senior Secured Promissory Notes (the “Convertible Notes”) at a
conversion price of $0.50 per share in the form attached hereto as Exhibit
C.  For every two shares issued on conversion of the
Convertible Notes, the Holder (defined therein) will receive a warrant to
purchase one share of common stock of the Company at an exercise price of $0.50
per share (the “Conversion Warrants”).  The
Conversion Warrants shall be in the form attached hereto as Exhibit B. The
Conversion Warrants are exercisable for a term of five (5) years from the
Initial Closing Date herein.

    

    4. Intercreditor
Agreement.  Concurrent with the execution of this Subscription
Agreement, the undersigned Subscriber hereby irrevocably agrees to execute and
become a party to the Intercreditor Agreement attached hereto as Exhibit D (the “Intercreditor Agreement”) with
each other Subscriber hereunder recognizing that the security interests granted
to such Subscriber under the Notes and the Convertible Notes rank pari passu
with the security interests granted by the Company to the other parties to the
Intercreditor Agreement.

    

    
      
        	
                B.

              	
                Representations and Warranties of the
      Subscriber

              

      

    

     

    The
Subscriber hereby represents and warrants to the Company as of the date
hereof:

     

    1. Place of Business.
The principal place of business address set forth below is such Subscriber’s
true and correct principal place of business and is the only jurisdiction in
which an offer to sell the Securities was made to such Subscriber and such
Subscriber has no present intention of moving its principal place of business to
or of becoming a resident of any other state or jurisdiction.

     

    2. Sale or Transfer of the
Securities. The Subscriber understands that the Securities have not
been registered under the Securities Act, or under the laws of any other
jurisdiction. The Subscriber understands and agrees that transfer or sale of the
Securities may be restricted or prohibited unless they are subsequently
registered under the Securities Act and, where required, under the laws of other
jurisdictions or an exemption from registration is available. The Subscriber
will not offer, sell, transfer or assign its Securities or any interest therein
in contravention of this Subscription Agreement, the Securities Act or any state
or federal law. The Subscriber understands and acknowledges that, because of the
substantial restrictions on the transferability of the Securities, it may not be
possible for the Subscriber to liquidate the Subscriber’s investment in the
Company readily, even in the case of an emergency.

    
      
        
        

      

      
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    3. Representation of Accredited
Investor Status, Investment Experience and Ability to Bear Risk.
Subscriber acknowledges that the Offering has not been registered with the
Securities and Exchange Commission because the Company is relying on an
exemption from registration under Section 4(2) of the Securities Act and
Regulation D promulgated thereunder. Subscriber believes that at the time of the sale
of the Securities to Subscriber, Subscriber (or, if Subscriber is a corporation,
limited liability company or trust, each of its equity owners) qualifies as an
“accredited investor” (as defined under Rule 501 of Regulation D promulgated
under the Securities Act) and has completed the Accredited Investor
Questionnaire attached hereto as Exhibit
E in support of this
representation and warranty.

     

    In
addition, Subscriber is knowledgeable and experienced with respect to the
financial and business activities contemplated by the Company and is capable of
evaluating the risks and merits of investing in the Securities and, in making a
decision to proceed with this investment, has not relied upon any
representations, warranties or agreements, other than those set forth in this
Subscription Agreement and can bear the economic risk of an investment in the
Company for an indefinite period of time, and can afford to suffer the complete
loss thereof.

     

    4. Own Advice. In
connection with the Subscriber’s investment in the Company, the Subscriber has
carefully considered and has, to the extent the Subscriber believes such
discussion necessary, discussed with the Subscriber’s professional legal, tax
and financial advisers (the “Investment Advisors”) the
suitability of an investment in the Securities for the Subscriber’s particular
tax and financial situation and the Subscriber has determined that the
Securities are a suitable investment for the Subscriber.

     

    5. Risks. The Subscriber
represents and warrants that the Subscriber is aware (i) that the
Securities involve a substantial degree of risk of loss of the Subscriber’s
entire investment and that there is no assurance of any income from the
Subscriber’s investment; and (ii) that any federal and/or state income tax
benefits which may be available to the Subscriber, if any, may be lost through
the adoption of new laws or regulations, to changes to existing laws and
regulations and to changes in the interpretation of existing laws and
regulations. The Subscriber further represents that the Subscriber is relying
solely on the Subscriber’s own conclusions or the advice of the Subscriber’s
Investment Advisors with respect to tax aspects of any investment in the
Securities. The Subscriber further represents that it has read and reviewed the
Company’s filings made with the Securities and Exchange Commission.

     

    
      
        
        

      

      
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    6. Inquiries. The
Subscriber and its Investment Advisors have been given access to, and prior to
the execution of this Subscription Agreement, have been provided with an
opportunity to ask questions of, and receive answers from, the Company officers
concerning the Company and the terms and conditions of the Offering and the
Securities, and to obtain any other information which the Subscriber and the
Subscriber’s Investment Advisors required with respect to the Company and an
investment in the Company in order to evaluate such investment and verify the
accuracy of all information furnished to the Subscriber and its Investment
Advisors regarding the Company. All such questions, if asked, were answered
satisfactorily and all information or documents provided were found to be
satisfactory. Neither the Subscriber nor its Investment Advisors have been
furnished any offering literature on which they have relied on other this
Subscription Agreement and the Subscriber and its Investment Advisors have
relied only on this Subscription Agreement. At no time was the Subscriber
presented with or solicited by any leaflet, public promotion meeting, newspaper
or magazine article, radio or television advertisement or any other form of
general advertising or general solicitation.

     

    7. Authority. The
Subscriber is authorized and has full right and power to subscribe for the
Securities and to perform the Subscriber’s obligations pursuant to the
provisions of this Subscription Agreement; the person signing this Subscription
Agreement and any other instrument executed and delivered herewith on behalf of
such Subscriber has been duly authorized by such entity and has full power and
authority to do so. If the Subscriber is a corporation, partnership,
unincorporated association or other entity, the person signing this agreement
has the legal capacity to authorize, deliver and be bound by this Subscription
Agreement and to take all actions required pursuant hereto and further certifies
that all necessary approvals of directors, shareholders or otherwise have been
given and obtained; and if the Subscriber is an individual, it is of the full
age of majority in the jurisdiction in which the Subscriber is resident and is
legally competent to execute, deliver and be bound by this Subscription
Agreement and take all action pursuant hereto.

     

    8. No Default. The
execution and delivery of this Subscription Agreement and the consummation of
the transactions contemplated hereby and thereby will not conflict with, or
result in any violation of or default pursuant to, any provision of any
governing instrument applicable to the Subscriber, or any agreement or other
instrument to which the Subscriber is a party or by which the Subscriber or any
of the Subscriber’s properties are bound or any permit, franchise, judgment,
decree, statute, rule or regulation applicable to the Subscriber or any of the
Subscriber’s business or properties.

     

    9. ERISA. If the
Subscriber is an employee benefit plan subject to ERISA, then such Subscriber
acknowledges that such Subscriber has been informed of and understands the
operations and business of the Company, and represents that such Subscriber’s
investment in the Company (i) is permissible under the documents and instruments
governing such plan; (ii) satisfies the diversification requirements of ERISA;
(iii) is prudent considering all the facts and circumstances, including the fact
that there is no trading market for the Securities; and (iv) is not a
“prohibited transaction” within the meaning of Section 406 of
ERISA.

    
      
        
        

      

      
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    10. Purchase Entirely For Own
Account. This Subscription Agreement is made with the Subscriber in
reliance upon the Subscriber’s representations to the Company, which by the
Subscriber’s execution of this Subscription Agreement, the Subscriber hereby
confirms, that the Securities issuable to the Subscriber will be acquired for
investment for the Subscriber’s own account, not as a nominee or agent, and not
with a view to the resale or distribution of any part thereof, and that the
Subscriber has no present intention of selling, granting any participation in,
or otherwise distributing the same. The Subscriber represents and warrants that
the Subscriber has no contract, understanding, agreement or arrangement with any
person to sell or transfer or pledge to such person or anyone else any of the
Securities for which the Subscriber hereby subscribes (in whole or in part) or
any interest therein; and the Subscriber represents and warrants that the
Subscriber has no present plans to enter into any such contract, undertaking,
agreement or arrangement.

     

    The
Subscriber represents and warrants that the funds representing the Subscription
Price which will be advanced by the Subscriber hereunder will not represent
proceeds of crime and the Subscriber acknowledges that the Company may in the
future be required by law to disclose the Subscriber’s name and other
information relating to this Subscription Agreement and the Subscriber’s
subscription hereunder, on a confidential basis, and to the best of the
Subscriber’s knowledge (i) none of the subscription funds to be provided by the
Subscriber (a) have been or will be derived from or related to any activity that
is deemed criminal under the laws of the United States of America, or any other
jurisdiction, or (b) are being tendered on behalf of a person or entity who has
not been identified to the Subscriber, and (ii) it shall promptly notify the
Company if the Subscriber discovers that any of such representations ceases to
be true, and to provide the Company with appropriate information in connection
therewith.

    

    The
Subscriber represents and warrants that the current structure of this
transaction and all transactions and activities contemplated hereunder is not a
plan or scheme to evade the registration provisions of the Securities
Act.

    

    The
Subscriber acknowledges that:

     

    
      	 
      	
              (i)

            	
              no
      securities commission or similar regulatory authority has reviewed or
      passed on the merits of the Securities;
and

            

    

    

    
      	 
      	
              (ii)

            	
              there
      is no government or other insurance covering the Securities;
      and

            

    

    

    
      	 
      	
              (iii)

            	
              there
      are risks associated with the purchase of the Securities;
    and

            

    

    

    
      	 
      	
              (iv)

            	
              there
      are restrictions on the Subscriber’s ability to resell the Securities and
      it is the responsibility of the Subscriber to find out what those
      restrictions are and to comply with them before selling the Securities;
      and

            

    

    

    
      	 
      	
              (v)

            	
              the
      Company has advised the Subscriber that the Company is relying on an
      exemption from the requirements to provide the Subscriber with a
      prospectus and to sell securities through a person or company registered
      to sell securities under applicable securities laws and, as a consequence
      of acquiring the Securities pursuant to this exemption, certain
      protections, rights and remedies provided by applicable securities laws,
      including statutory rights of rescission or damages, will not be available
      to the Subscriber.

            

    

     

    
      
        
        

      

      
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    The
Subscriber represents and warrants that neither the Company, nor any of their
respective directors, officers, employees or representatives, have made any
representations (oral or written) to the Subscriber regarding the future value
of the Securities.

    

    The
Subscriber acknowledges that (i) the Company may complete secured or unsecured
debt financings or equity financings in the future in order to develop the
Company’s business and to fund its ongoing development, (ii) there is no
assurance that such financings will be available and, if available, on
reasonable terms, (iii) any such future financings may have a dilutive effect on
current security holders, including the Subscriber, and (iv) if such future
financings are not available, the Company may be unable to fund its ongoing
development and the lack of capital resources may result in the failure of its
business.

    

    The
Subscriber will not, directly or indirectly, except in compliance with (that is,
only to the extent required to comply with) the Securities Act and such other
securities or “Blue Sky” laws as may be applicable, (i) offer, sell, pledge,
transfer or otherwise dispose of (or solicit any offers to buy, purchase or
otherwise acquire or take a pledge of) any of the Securities, (ii) engage in any
short sale which results in a disposition of any of the Securities by
Subscriber, or (iii) hedge the economic risk of the Subscriber’s investment in
the Securities.

    

    

    
      
        	
                C.

              	
                Representations and Warranties of the
      Company

              

      

    

     

    1. Corporate Organization;
Authority; Due Authorization.

     

    (a) The
Company (i) is a corporation duly organized, validly existing and in good
standing under the laws of the jurisdiction of the State of Delaware, (ii) has
the corporate power and authority to own or lease its properties as and in the
places where its business is now conducted and to carry on its business as now
conducted, and (iii) is duly qualified as a foreign corporation authorized to do
business in every jurisdiction where the failure to so qualify, individually or
in the aggregate, would have a material adverse effect on the operations,
assets, liabilities, financial condition or business of the Company taken as a
whole (a “Material Adverse
Effect”).

    
      
        
        

      

      
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    (b) The
Company (i) has the requisite corporate power and authority to execute, deliver
and perform this Subscription Agreement, the Note and the Warrant (collectively,
the “Transaction
Documents”) to which it is a party and to incur the obligations herein
and therein and (ii) has been authorized by all necessary corporate action to
execute, deliver and perform the Transaction Documents and to consummate the
transactions contemplated hereby and thereby (the “Contemplated Transactions”). The
Transaction Documents will be on each Closing Date valid and binding obligations
of the Company enforceable in accordance with their terms except as limited by
applicable bankruptcy, reorganization, insolvency, moratorium or similar laws
affecting the enforcement of creditors’ rights and the availability of equitable
remedies (regardless of whether such enforceability is considered in a
proceeding at law or equity).

     

    2. Capitalization. The
authorized capital stock of the Company consists of one hundred and fifty
million (150,000,000) shares of common stock, $0.01 par value, of which
approximately thirty-two million two hundred fifty nine thousand one hundred
thirty one (32,259,131) shares of common stock are outstanding. All outstanding
shares of capital stock of the Company were issued in compliance with all
applicable Federal and state securities laws, and the issuance of such shares
was duly authorized by all necessary corporate action on the part of the
Company. Except as contemplated by this Subscription Agreement or as set forth
in the SEC Documents (hereinafter defined), there are (A) no outstanding
subscriptions, warrants, options, conversion privileges or other rights or
agreements obligating the Company to purchase or otherwise acquire or issue any
shares of capital stock of the Company (or shares reserved for such purpose),
(B) no preemptive rights contained in the Company’s Certificate of
Incorporation, as amended (the “Certificate of
Incorporation”), the By-laws of the Company or contracts to which the
Company is a party or rights of first refusal with respect to the issuance of
additional shares of capital stock of the Company, including without limitation
the Securities and (C) no commitments or understandings (oral or written) of the
Company to issue any shares, warrants, options or other rights to acquire any
equity securities of the Company other than with respect to existing
antidilution rights of existing investors. To the Company’s knowledge, except as
set forth in the SEC Documents, none of the shares of common stock are subject
to any stockholders’ agreement, voting trust agreement or similar arrangement or
understanding. Except as set forth in the SEC Documents, the Company has no
outstanding bonds, debentures, notes or other obligations the holders of which
have the right to vote (or which are convertible into or exercisable for
securities having the right to vote) with the stockholders of the Company on any
matter.

     

    3. Validity of
Securities. The issuance of the Securities has been duly authorized by
all necessary corporate action on the part of the Company and, when issued to,
delivered to, and paid for by the Subscribers in accordance with this
Subscription Agreement, the Securities will be validly issued, fully paid and
non-assessable.

     

    4. Underlying
Securities. The issuance of the Warrant Shares has been duly authorized,
and the Warrant Shares, prior to exercise of the Warrants, will have been duly
reserved for issuance upon such exercise and, when so issued, will be validly
issued, fully paid and non assessable.

    
      
        
        

      

      
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    5. Private Offering. The
Company agrees that neither the Company nor anyone authorized to act on its
behalf will offer the Securities or any part thereof or any similar securities
for issuance or sale to, or solicit any offer to acquire any of the same from,
anyone so as to make the issuance and sale of the Securities subject to the
registration requirements of Section 5 of the Securities Act.

     

    6. No Conflict; Required
Filings and Consents. The Company’s execution, delivery and performance
of this Agreement and all other agreements contemplated hereby and thereby and
the consummation of the transactions contemplated hereby and thereby will not
with or without the giving of notice or the lapse of time or both (A) violate
any provision of law, statute, rule or regulation to which the Company is
subject, (B) violate any order, judgment or decree applicable to it, or (C)
conflict with or result in a breach or default under any term or condition of
its applicable governing instruments or any agreement or other instrument to
which it is a party or by which it is bound.

     

    7. Compliance. Except as
set forth in the SEC Documents, the Company is not in conflict with, or in
default or violation of (i) any law, rule, regulation, order, judgment or decree
applicable to the Company or by which any property or asset of the Company is
bound or affected (“Legal
Requirement”), or (ii) any Material Agreement, in each case except for
any such conflicts, defaults or violations that would not, individually or in
the aggregate, have a Material Adverse Effect. The Company has not received any
written notice or other communication from any Governmental Body regarding any
actual or possible violation of, or failure to comply with, any Legal
Requirement, except any such violations or failures that would not, individually
or in the aggregate, have a Material Adverse Effect.

     

    8. SEC Documents; Financial
Statements.

     

    (a) The
information contained in the following documents, did not, as of the date of the
applicable document, include any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances in which they were made,
not misleading, as of their respective filing dates or, if amended, as so
amended (the following documents, collectively, the “SEC Documents”), provided that
the representation in this sentence shall not apply to any misstatement or
omission in any SEC Document filed prior to the date of this Subscription
Agreement which was superseded by a subsequent SEC Document filed prior to the
date of this Subscription Agreement:

     

    (i)
 the Company’s Quarterly Report on Form 10-Q for the quarter ended
September 30, 2008;

    (ii) the
Company’s Quarterly Report on Form 10-Q for the quarter ended June 30,
2008;

    

    (iii) the
Company’s Quarterly Report on Form 10-Q for the quarter ended March 31,
2008;

    (iv) the
Company’s Annual Report on Form 10-KSB for the year ended December 31, 2007;
and 

    (v)
 the Company’s interim filings on Form 8-K or other appropriate forms filed
on any date after December 31, 2007 and on or before each Closing.

    
      
        
        

      

      
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    (b) In
addition, as of the date of this Subscription Agreement, when read together with
the SEC Documents and the information, qualifications and exceptions contained
in this Subscription Agreement, do not include any untrue statement of a
material fact or omit to state a material fact in light of the circumstances in
which such written disclosures were made.

     

    (c) The
Company has filed all forms, reports and documents required to be filed by it
with the SEC for the 12 months preceding the date of this Subscription
Agreement, including without limitation the SEC Documents. As of their
respective dates, the SEC Documents filed prior to the date hereof complied as
to form in all material respects with the applicable requirements of the
Securities Act, the Exchange Act, and the rules and regulations
thereunder.

     

    (d) The
Company’s Annual Report on Form 10-KSB for the year ended December 31, 2007,
includes consolidated balance sheets as of December 31, 2006 and 2007 and
consolidated statements of income for the one year periods then ended
(collectively, the “Form 10-KSB
Financial Statements”).

     

    (e) The
Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2008,
includes consolidated balance sheets as of March 31, 2008 and consolidated
statements of operations for the quarters ended March 31, 2007 and 2008 (the
“March 31 Financial
Statements”).

    

    (f) The
Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2008
includes consolidated balance sheets as of June 30, 2008 and consolidated
statements of operations for the quarters ended June 30, 2007 and 2008 (the
“June 30 Financial
Statements”).

    

    (g) The
Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008
includes consolidated balance sheets as of September 30, 2008 and consolidated
statements of operations for the quarters ended September 30, 2007 and 2008 (the
“September 30 Financial
Statements” and together with the June 30 Financial Statements, the March
31 Financial Statements and the Form 10-KSB Financial Statements, the “Financial
Statements”).

     

    (h) The
Financial Statements (including the related notes and schedules thereto) fairly
present in all material respects the consolidated financial position, the
results of operations, retained earnings or cash flows, as the case may be, of
the Company for the periods set forth therein (subject, in the case of unaudited
statements, to normal year-end audit adjustments that would not be material in
amount or effect), in each case in accordance with generally accepted accounting
principles consistently applied during the periods involved, except as may be
noted therein. 

    
      
        
        

      

      
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    9. 
Use of
Proceeds. The net proceeds received by the Company from the sale of the
Securities shall be used by the Company for working capital and general
corporate purposes.

     

    10. Subsidiaries. The
Company has no subsidiaries.

     

    D. Legend. The
certificate representing the Securities issued by the Company shall bear the
following (or similar) legends:

     

    THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES
LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. THESE
SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED UNLESS PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT OR EXEMPTION THEREFROM.

     

    E. Indemnification. The
Subscriber agrees to indemnify and hold harmless the Company and its officers,
managers, members, employees, agents and affiliates against any and all loss,
liability, claim, damage and expense whatsoever (including without limitation
any and all expenses reasonably incurred in investigating, preparing or
defending against any litigation commenced or threatened or any claim
whatsoever) arising out of or based upon any false representation or warranty or
breach or failure by the Subscriber to comply with any covenant agreement made
by the Subscriber herein. The Company agrees to indemnify and hold harmless the
Subscriber and its officers, managers, members, employees, agents and affiliates
against any and all loss, liability, claim, damage and expense whatsoever
(including without limitation any and all expenses reasonably incurred in
investigating, preparing or defending against any litigation commenced or
threatened or any claim whatsoever) arising out of or based upon any false
representation or warranty or breach or failure to comply with any covenant
agreement made by the Company herein.

     

    F. Modification. Any
provision of this Subscription Agreement, the Notes, and the Warrants may be
amended, waived or terminated upon mutual agreement of the Company and holders
of a majority of the Securities outstanding at the time of such amendment,
waiver or termination.  Approval of such amendment, waiver or
termination shall be binding upon all Subscribers, and all holders of the Notes
and Warrants.

     

    G. Assignability. This
Subscription Agreement and the rights and obligations hereunder are not
transferable or assignable by the Subscriber.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    H. Governing Law. This
Subscription Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware without regard to principles of conflicts of
law.

     

    I. Survival of Representations
and Warranties. All representations and warranties made by the Subscriber
in this Subscription Agreement shall survive the execution and delivery of this
Subscription Agreement, as well as any investigation at any time made by or on
behalf of the Company and the issue and sale of the Securities.

     

    J. Reliance. The
Subscriber understands and acknowledges that the Subscriber’s representations,
warranties, acknowledgements and agreements in this Subscription Agreement will
be relied upon by the Company in determining the Subscriber’s suitability as a
purchaser of the Securities.

     

    K. Further Assurances.
The Subscriber agrees to provide, if requested, any additional information that
may be requested or required to determine the Subscriber’s eligibility to
purchase the Securities.

     

    L. Entire Agreement.
This Subscription Agreement constitutes the full and entire understanding and
agreement between the parties with regard to the subject matter hereof and no
party shall be liable or bound to any other in any manner by any
representations, warranties, covenants and agreements except as specifically set
forth herein and therein.

     

    M.  Severability. In the
event one or more of the provisions of this Subscription Agreement should, for
any reason, be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality, or unenforceability shall not affect any other
provisions of this Subscription Agreement, and this Subscription Agreement shall
be construed as if such invalid, illegal or unenforceable provision had never
been contained herein.

     

    N. Notices. Any notice
or other communication required or permitted to be given hereunder (each a
“Notice”) shall be given
in writing and shall be made by personal delivery or sent by courier or
certified or registered first-class mail (postage prepaid), addressed to a party
at its address shown below or at such other address as such party may designate
by three days’ advance Notice to the other parties.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    Any
Notice to any of the Subscribers shall be sent to the addresses for such
Subscriber set forth on the signature pages hereof.

    

    Any
Notice to the Company shall be sent to:

    

    Novint
Technologies, Inc.

    4601
Paradise Blvd NW

    Albuquerque,
NM 87114

    Attention:
CEO

    

    with a
copy to:

    

    Richardson
& Patel LLP

    10900
Wilshire Blvd., Suite 500

    Los
Angeles, CA. 90024

    Fax:
310.208.1154

    Attention:
Addison Adams, Esq.

    

    Each
Notice shall be deemed given and effective upon receipt (or refusal of
receipt).

     

    

    

    

    

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

    

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

    

    IN
WITNESS WHEREOF, the undersigned has executed this Subscription Agreement as of
the date set forth on this signature page.

     

    

     

    Subscription
Price:                  
$________________________

     

    

    
      
        
          	 	 	 	 	 
	                                                                                                            
    	 	 	                                                                                                           
    	 
	
                  Print
      Name of Individual, Company,

                    Limited
      Liability Company, Corporation

                    or
      Trust 

                  

                	 	 	
                  Print
      Name of Authorized Representative

                	 

        

      

    

    

     

    
      
        
          
            
              
                	 	 	 	 	 	 
	By: 	                                                                                                     
    	 	 	                                                                                                     
    	 
	
                        Signature
      of Authorized Representative

                      	 	 	
                        Capacity
      of Authorized Representative

                      	 

              

            

          

        

      

    Date: _____________

    

    

    Address:
_______________________

    

     

    Social
Security Number of U.S. Tax Identification No:
___________________________

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	

                                  SUBSCRIPTION
      ACCEPTED:

                                  NOVINT
      TECHNOLOGIES, INC., a Delaware corporation 

                                	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By: 	                                                                                          
    	 	 	
                                  Date:
      ____________

                                	 
	Name:  Thomas
      G. Anderson

                                  Title:
      Chief Executive Officer

                                	 	 	
                                   

                                	 

                        

                         

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    FORM
OF

    8% SECURED PROMISSORY
NOTE 

    

    

    

    

    

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    FORM
OF WARRANT

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXIBIT
C

    

    FORM
OF

    10%
CONVERTIBLE SECURED PROMISSORY NOTE

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
D

    

    INTERCREDITOR
AGREEMENT

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
E

    

    ACCREDITED
INVESTOR QUESTIONNAIREUnassociated Document

    INTERCREDITOR
AGREEMENT

    

    This
INTERCREDITOR AGREEMENT, dated as of December 4, 2008 (this “Agreement”), is
entered into by and among the noteholders whose names and addresses are set
forth on the signature pages hereto (the “Noteholders”).

    

    WITNESSETH:

    

    WHEREAS,
Novint Technologies, Inc., a Delaware corporation (the “Company”) has issued
8% Senior Secured Promissory Notes (the “8% Notes”) pursuant
to that certain Subscription Agreement dated on or around December 4,
2008.

    

    WHEREAS,
in the event that the 8% Notes are not repaid within one year from the Initial
Closing Date, the Company shall have the option to refinance the Notes and
accrued interest by issuing to each of the Noteholders a 10% Convertible Senior
Secured Promissory Note (the “10%
Notes”).

    

    WHEREAS,
the Noteholders agree that the 8% Notes and the 10% Notes (collectively, the
“Notes”), are
secured by the Collateral and the rights and obligations of the Noteholders with
respect to the Notes and the Collateral shall be governed by this
Agreement.

    

    WHEREAS,
each Noteholder recognizes the security interests granted to such Noteholder
under the Notes ranks pari passu in right of payment and right of lien priority
with the security interests granted by the Company to the other Noteholders and
signatories to this Agreement.

    

    NOW,
THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

    

    1.           Defined
Terms.  Any and all capitalized terms used herein shall have
the meanings ascribed thereto in the Notes or Subscription Agreement, unless
specifically defined herein.

    
      	
               
      

            	 

    

    
      	
               
      

            	
              (a)

            	
              The
      following terms, as used in this Agreement, shall have the following
      meanings:

            

    

    

     “Indebtedness” means all
indebtedness and other obligations of the Company to the
Noteholders.

    

    “Insolvency Event” means any
insolvency or bankruptcy proceedings, and any receivership, liquidation,
reorganization or other similar proceedings in connection therewith, relative to
the Company or to its creditors, as such, or to its property, and in the event
of any proceedings for voluntary liquidation, dissolution or other winding up of
the Company, whether or not involving insolvency or bankruptcy.

    

    “Lien” means any mortgage,
lien, pledge, charge, security interest or other encumbrance upon or in any
property or assets (including accounts and contract rights).

    

    “Paid in Full” means all
principal, interest and fees payable under the Note and all other Secured
Obligations shall have been paid in full in cash (other than contingent
obligations or indemnification obligations for which no claim has been
asserted).

    

    “Person” means any person or
entity of any nature whatsoever, specifically including an individual, a firm, a
company, a corporation, a partnership, a limited liability company, a trust or
other entity.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b)           The
definitions of terms herein shall apply equally to the singular and plural forms
of the terms defined.  Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter
forms.  The words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”.  The word
“will” shall be construed to have the same meaning and effect as the word
“shall”.  Unless the context requires otherwise, (i) any definition of
or reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from
time to time amended, restated, supplemented or otherwise modified (subject to
any restrictions on such amendments, restatements, supplements or modifications
set forth herein), (ii) any reference herein to any Person shall be construed to
include such Person’s successors and assigns, (iii) the words “herein”, “hereof”
and “hereunder”, and words of similar import, shall be construed to refer to
this Agreement in its entirety and not to any particular provision hereof, (iv)
all references herein to Sections, clauses and Exhibits shall be construed to
refer to Sections and clauses of, and Exhibits to, this Agreement and (v) the
words “asset” and “property” shall be construed to have the same meaning and
effect and to refer to any right or interest in or to assets and properties of
any kind whatsoever, whether real, personal or mixed and whether tangible or
intangible.  The Exhibit
attached to this Agreement shall be deemed incorporated herein by
reference.

    

    2.           Noteholder
Rights

    

    (a)           Relative
Priorities.  Notwithstanding the date, time, method, manner or
order of grant, attachment or perfection of any Liens securing the Indebtedness
granted on the Collateral and notwithstanding any provision of the UCC, or any
other applicable law or any defect or deficiencies in, or failure to perfect,
the Liens securing the Indebtedness or any other circumstance whatsoever, each
Noteholder hereby agrees that any Lien on the Collateral securing Indebtedness
now or hereafter held by or on behalf of a Noteholder regardless of how
acquired, whether by grant, possession, statute, operation of law, subrogation
or otherwise, shall be deemed pari passu in right, priority, operation, effect
and all other respects to any Lien on the Collateral securing any other
Indebtedness.

    

    (b)           Prohibition on Contesting
Liens.  Each Noteholder agrees that it will not (and hereby
waives any right to) contest or support any other Person in contesting, in any
proceeding (including any Insolvency Event), the perfection, priority, validity
or enforceability of a Lien held by or on behalf of any other Noteholder in the
Collateral or the provisions of this Agreement; provided that nothing
in this Agreement shall be construed to prevent or impair the rights of the
Noteholders to enforce this Agreement.

    

    (c)           Similar Liens and
Agreements.  The
Noteholders agree that it is their intention that the Collateral be
substantially identical and that the documents and agreements creating or
evidencing the Collateral shall be in all material respects the same forms of
documents.

    

    (d)           Exercise of
Remedies.  The Noteholders agree that upon an Event of Default
the Noteholders may exercise any rights or remedies available with respect to
the Collateral or institute any action or proceeding with respect to such rights
or remedies upon consent by a majority of the Noteholders based on the
outstanding amount of the Indebtedness.

    

    (e)           Application of
Proceeds.  So long as the Indebtedness has not been Paid in
Full, whether or not any Insolvency Event has been commenced by or against the
Company, Collateral or proceeds thereof received in connection with the sale or
other disposition of, or collection on, such Collateral upon the exercise of
remedies by a Noteholder, shall be applied ratably to the Indebtedness then
outstanding.  Any proceeds of a distribution of Collateral made in
connection with an Insolvency Event shall be applied ratably to the Indebtedness
then outstanding.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (f)           
Insurance.  The
Noteholders shall have the sole and exclusive right to adjust settlement for any
insurance policy covering the Collateral in the event of any loss thereunder and
to approve any award granted in any condemnation or similar proceeding (or any
deed in lieu of condemnation) affecting the Collateral.  Unless and
until the Indebtedness is Paid in Full, all proceeds of any such policy and any
such award (or any payments with respect to a deed in lieu of condemnation) if
in respect to the Collateral shall be paid ratably to the Noteholders based on
the outstanding amount of the Indebtedness owed to each Noteholder.

    

    (g)           Credit
Bid(s).  Any Noteholder may make a credit bid at any
foreclosure sale or other sale of any of the Collateral; provided, that the
other Noteholders receive a cash payment as a result of such credit bid equal to
their ratable share of the consideration that would have been received under
this Agreement had such credit bid been paid in cash.

    

    (h)           No
Marshaling.  No Noteholder shall have any obligation to marshal
any assets in favor of, or against or in payment of, any other Noteholder or any
Indebtedness.

    

    3.           Reinstatement.  This
Agreement shall continue to be effective or shall be reinstated, as the case may
be, if, for any reason, any payment of Indebtedness by or on behalf of the
Company shall be rescinded or must otherwise be restored by any Noteholder,
whether as a result of an Insolvency Event or otherwise.

    

    4.           Obligations of the Company
Not Affected.  The provisions of this Agreement are intended
solely for the purpose of defining the relative rights of Noteholders against
the other Noteholders.  Nothing contained in this Agreement shall
impair the obligation of the Company to pay its obligations with respect to the
Indebtedness as and when it shall become due and payable; provided that the
exercise of remedies in connection with a failure to make such payments shall be
limited as provided herein.

    

    5.           No Waivers;
Remedies.  No failure on the part of any party to this
Agreement to exercise, and no delay in exercising, any right hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise of any
right hereunder preclude any other or further exercise thereof or the exercise
of any other right.  The rights and remedies of the parties to this
Agreement or any other Person hereunder provided herein are cumulative and are
in addition to, and not exclusive of, any rights or remedies provided by
law.  Rights hereunder are not conditional or contingent on any
attempt by any party to exercise any of its rights under any other document,
agreement or instrument.

    

    6.           Amendments.  No
amendment or waiver of any provision of this Agreement, and no consent to any
departure by any party therefrom, shall in any event be effective unless the
same shall be in writing and signed by all parties, and then such waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given; provided that any addition of a Noteholder pursuant to
Section 15
hereof shall not constitute a modification hereto for purposes of this Section
6.

    

    7.           Successors and
Assigns.  The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective
permitted successors and assigns.

    

    8.           Exculpation.  In
connection with any exercise of foreclosure upon Collateral or enforcement of
Noteholders’ remedies, no Noteholder nor any of its partners nor any of their
respective directors, officers, employees, attorneys, accountants, or agents
shall be liable as such for any action taken or omitted by it or them, except
for its or their own gross negligence or willful misconduct with respect to its
duties under this Agreement.  No Noteholder shall be responsible for
the negligence or misconduct of any agents or attorneys-in-fact selected by it,
if the selection of such agents or attorneys-in-fact was done without gross
negligence or willful misconduct.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    9.           Notices.  Unless
otherwise provided in this Agreement, all notices or demands by any party
relating to this Agreement or any other agreement entered into in connection
herewith shall be in writing and (except informal documents which may be sent by
first class mail, postage prepaid) shall be personally delivered or sent by
certified mail, postage prepaid, return receipt requested, or by facsimile, or
by reputable overnight delivery service, to the secured parties, at their
respective addresses or fax numbers set forth on the signature pages
below.

    

    10.           GOVERNING
LAW.  THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO CONFLICTS OF
LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.

    

    11.           Headings.  Headings
used in this Agreement are for convenience of reference only and shall neither constitute a
part of this Agreement for any other purpose nor affect the construction of this
Agreement.

    

    12.           No Inconsistent
Requirements.  In the event of a direct conflict between the
terms and provisions contained in this Agreement and the terms and provisions
contained in the Notes, it is the intention of the parties hereto that such
terms and provisions in such documents shall be read together and construed, to
the fullest extent possible, to be in concert with each
other.  In the event of any actual, irreconcilable conflict that
cannot be resolved as aforesaid, the terms and provisions of this Agreement
shall control and govern.

    

    13.           Reliance.  Each
of the parties hereto hereby agrees that this Agreement may be relied upon by
the other parties hereto and this Agreement shall be enforceable by each party
against the other parties hereto.

    

    14.           Counterparts.  This
Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which shall be deemed to be an
original, but all of which taken together shall constitute one and the same
agreement.  Delivery of an executed counterpart of this Agreement by
facsimile shall be equally as effective as delivery of an original executed
counterpart of this Agreement.  Any party delivering an executed
counterpart of this Agreement by facsimile also shall deliver an original
executed counterpart of this Agreement but the failure to deliver an original
executed counterpart shall not affect the validity, enforceability, and binding
effect of this Agreement.

    

    15.           Joinder.  The
Company shall cause each party which, from time to time, after the date
hereof  purchases any Note or other Indebtedness from the Company
which is secured by the Collateral, to execute and deliver a counterpart
signature page hereto substantially in the form of Exhibit I hereto and
upon the execution and delivery of such counterpart signature page shall become
a Noteholder hereunder and shall become bound by the terms and provisions hereof with the same
force and effect as if originally named a party herein.  Each party
hereto shall cause each party which, from time to time, acquires an interest in
any Indebtedness from such party to execute and deliver a counterpart signature
page hereto substantially in the form of Exhibit I hereto and
upon the execution and delivery of such counterpart signature page shall become
a Noteholder hereunder and shall become bound by the terms and provisions hereof with the same
force and effect as if originally named a party herein.  The
obligations of each party hereunder shall remain in full force and effect
notwithstanding the addition of any new party hereunder.  The
execution and delivery of such counterpart signature page shall require the
consent of the Company.

    

    [Signature
Page Follows]

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
 

    IN
WITNESS WHEREOF, the undersigned Noteholder has, agreeing to be bound, executed
this Intercreditor Agreement as of the date set forth below.

    

    Date: _____________________                                                     

    

    ENTITIES:

    

    

    
      _____________________________________

    

    
      Print
Name of Company, Limited

      Liability
Company, Corporation or Trust

    

    

    
      
        	
                By:

              	
                _______________________

              
	Name: 	_______________________ 
	Title: 	_______________________ 

      

    

    
       

    

    
       

    

    

    

    
      INDIVIDUALS:

    

    

    

    
      _____________________________________

    

    

    Print
Name: _____________________

    

    

    

    

    

    

    

    

    

    

    

      
        
          
            [Intercreditor
Agreement]

          

           

        

        
           

          
            

          

        

        
           

        

      

    ACKNOWLEDGED
AND AGREED TO

    THIS ___
DAY OF _____________, 2008

    

    Novint
Technologies, Inc., a Delaware corporation

     

    
      
        
          	
                  By:

                	
                  ______________________________

                
	Name: 	Thomas
      G. Anderson 
	Title: 	Chief
      Executive Officer 

        

      

      
                

      

      
 

       

    

    
      
        
          [Intercreditor
Agreement]

        

         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit I
to

    Intercreditor
Agreement

    

    [Form of
Counterpart Signature Page to Intercreditor Agreement]

    

    

    By
signing below, [each of] the undersigned becomes a Noteholder under the
Intercreditor Agreement dated as of December 4, 2008 (as amended, restated,
supplemented or otherwise modified from time to time, the “Agreement”) to which
this signature page is attached and is made a part, and agrees that, upon the
execution and delivery of this signature page to the Company (as defined in the
Agreement), it is bound by the terms, conditions and obligations thereof
applicable to it as a Noteholder under the Agreement and further represents and
warrants to the Company and other Noteholders that this Form of Counterpart
Signature Page to Agreement has been duly executed and delivered by
it.

     

    
      
        	

                Address: 

              	
                NOTEHOLDER

              	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
                Date:

              	
                By:
      

              	    	 
	 	 	Name: 	 
	 	 	Title: 	 
	 	 	 	 

      

    

    
 

    

     

    

    

    ACKNOWLEDGED
AND AGREED TO

    THIS ___
DAY OF _____________, 2008

    

    Novint
Technologies, Inc., a Delaware corporation

     

    
       

      
        
          
            	
                    By:

                  	
                    ______________________________

                  
	Name: 	Thomas
      G. Anderson 
	Title: 	Chief
      Executive Officer 

          

        

        
                  

        

        
 

      

    

     

    

    
      
        
          [Counterpart
Signature Page to Intercreditor Agreement]

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