Document:

Exhibit 10.2

 

 

 

 

 

LONG ISLAND ICED TEA CORP.

 

 

 

Subscription Agreement

 

 

 

 

     

     

    

INSTRUCTIONS

 

 

IMPORTANT: PLEASE READ CAREFULLY BEFORE
SIGNING. SIGNIFICANT OBLIGATIONS AND REPRESENTATIONS ARE CONTAINED IN THIS DOCUMENT.

 

 

Steps For All Investors

 

		1.	Fill in your name and amount of investment on Page 3.

 

 

Additional Steps for Individual
Investors

 

		1.	Complete the requested information on Page 8.

		2.	Sign Page 10.

 

 

Additional Steps for Entity
Investors

 

		1.	Complete the requested information on Page 9.

		2.	Sign Page 10.

		3.	If applicable, complete the information on Pages 11 and
please sign as indicated thereon.

 

 

PLEASE DELIVER TWO EXECUTED COPIES OF
THE SUBSCRIPTION AGREEMENT TO:

 

Long Island Iced Tea Corp.

116 Charlotte Avenue

Hicksville, NY 11801

 

THE SUBSCRIPTION
PAYMENT MUST BE WIRED AS FOLLOWS:

 

Wire your funds to the following account,
maintained by Long Island Iced Tea Corp.:

 

Bank Info: _______________

Bank Address: _______________

Routing No.: _______________

Account Name: _______________

Account No.: _______________

 

When you wire your funds, please notify _______________
at _______________.

 

Any questions you may have concerning these
documents or the payment of your subscription amount should be directed to _______________ at _______________.

 

     

     

    

 

Print Name of Investor:
_________________________

 

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement
(“Subscription Agreement”) is being used by Long Island Iced Tea Corp., a Delaware corporation (the “Company”),
for a private placement (the “Offering”) of units (each a “Unit,” and together the “Units”)
at a price of $4.00 per Unit on the terms contained in this Subscription Agreement. Each Unit consists of one share of the Company’s
common stock, par value $0.0001 per share (“Common Stock”), and a three-year warrant to purchase one share of Common
Stock at an exercise price of $6.00 per share, subject to adjustment as described therein (each a “Warrant,” and together
the “Warrants”).

 

The above-named
Investor hereby agrees as follows:

1.Subscription
for Securities. Investor hereby subscribes for and agrees to purchase $_________ of Units of the Company at a purchase
price of $4.00 per Unit, subject to the terms and conditions set forth in this Subscription Agreement. The Common Stock and Warrants
comprising the Units will be issued separately. The Warrants issuable to Investor will be issued as a single warrant to purchase
the applicable number of shares of Common Stock on substantially the terms and in substantially the form of Exhibit A.

 

2.Offering
and Offering Period. The Units are being offered in a private placement in accordance with the terms set forth in this
Subscription Agreement. The Company intends to offer up to 750,000 Units (or an aggregate of $3 million of Units). The Company’s
officers, directors and affiliates shall be entitled to purchase Units in the Offering on the same terms as other Investors.

 

3.Investor
Delivery of Documents and Payment. Investor has tendered to the Company two (2) completed and manually executed copies
of this Subscription Agreement. Simultaneously with submitting this Subscription Agreement, the Investor is wiring the subscription
amount in accordance with the directions on the cover sheet (or delivering evidence of any outstanding loans or advances being
converted in this Offering).

 

4.Acceptance
or Rejection of Subscription; Return of Unapplied Funds. The Company has the right to reject this subscription, in whole
or in part, for any reason and at any time prior to a Closing (defined below). In the event of the rejection of this subscription,
my subscription payment will be promptly returned to me without interest or deduction and this Subscription Agreement shall have
no force or effect. The Units subscribed for herein will not be deemed issued to or owned by the Investor until one copy of this
Subscription Agreement has been executed by the Investor and countersigned by the Company and the Closing (defined below) with
respect to the Investor’s subscription has occurred.

 

5.Closing
and Delivery of Securities. The Offering is being made on a “no minimum, no maximum, best efforts” basis. The
closing (“Closing”) on an Investor’s investment may occur at any time, as determined by the Company, together
with, or separate from, investments by other Investors. The Company may accept this Subscription Agreement and have a Closing for
all or any portion of the Units subscribed for by executing a copy hereof as provided and notifying Investor of such acceptance.

 

6.Offering
to Accredited Investors. The Offering is limited to “accredited investors” as defined in Section 2(15) of the
Securities Act of 1933, as amended (“Securities Act”), and Rule 501(a) promulgated thereunder, and is being made without
registration under the Securities Act in reliance upon the exemptions contained in Section 4(a)(2) of the Securities Act and applicable
state securities laws; it being understood that for purposes of the qualifying under the $1,000,000 net worth test:

 

		·	The Investor’s primary residence shall not be included as an
asset;

		·	Indebtedness that is secured by the Investor’s primary residence,
up to the estimated fair market value of the primary residence as of the date of this Agreement, shall not be included as a liability
(except that if the amount of such indebtedness outstanding as of such date exceeds the amount outstanding 60 days before such
date, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability);
and

		·	Indebtedness that is secured by the Investor’s primary residence
in excess of the estimated fair market value of the primary residence shall be included as a liability. 

 

    	 	1	 

     

    

 

7.Investor
Representations and Warranties.

 

7.1.No Right
to Terminate. Investor is aware that Investor is not entitled to cancel, terminate or revoke this subscription, and any agreements
made in connection herewith will survive an individual Investor’s death or disability. In order to induce the Company to
issue and sell Units to Investor, Investor represents and warrants that the information relating to Investor stated herein is true
and complete as of the date hereof and will be true and complete as of the date or dates on which Investor’s purchase of
Units becomes effective. If, prior to the final consummation of the offer and sale of the Units, there should be any change in
such information or any of such information becomes incorrect or incomplete, Investor agrees to notify the Company and supply the
Company promptly with corrective information.

 

7.2.Information
About the Company and the Units.

 

(a)The Company has
made available to Investor a copy of the Company’s Final Prospectus, dated May 1, 2015, the Company’s Current Report
on Form 8-K dated May 27, 2015, the Company’s Current Report on Form 8-K dated June 17, 2015, the Company’s Current
Report on Form 8-K dated July 2, 2015 and the Company’s Current Report on Form 8-K dated July 27, 2015, as well as the other
filings made by the Company pursuant to Section 13(a) of the Securities Exchange Act of 1934, as amended, as of the execution date
of this Subscription Agreement (together the “Disclosure Documents”). Investor has read the Disclosure Documents, including
the “Risk Factors” set forth in the Final Prospectus, together with this Subscription Agreement, and fully understands
the information set forth therein and herein.

 

(b)Investor has been
given access to full and complete information regarding the Company as Investor has requested and has utilized such access to Investor’s
satisfaction for the purpose of verifying the information included herein and therein, and Investor has either met with or been
given reasonable opportunity to meet with the individuals who will become the officers of the Company for the purpose of asking
reasonable questions of such officers concerning the terms and conditions of the Offering and the business of the Company and all
such questions have been answered to Investor’s full satisfaction. Investor has also been given an opportunity to obtain
any additional relevant information to the extent reasonably available to the Company. After reading of such information and materials,
Investor understands that there is no assurance as to the future performance of the Units.

 

(c)Investor has received
no representation or warranty from the Company or any of its officers, directors, equity holders, employees or agents in respect
of Investor’s investment in the Units. Investor is not participating in the Offering as a result of or subsequent to: (i)
any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over
television, radio or the Internet or (ii) any seminar or meeting whose attendees have been invited by any general solicitation
or general advertising.

 

7.3.Speculative
Investment. Investor is aware that the Units are a speculative investment that involve a high degree of risk and Investor may
suffer the total loss of its investment. Investor 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 Units and have obtained, in Investor’s judgment, sufficient
information to evaluate the merits and risks of an investment in the Units. Investor has not utilized any person as its purchaser
representative (as defined in Regulation D) in connection with evaluating such merits and risks and has relied solely upon its
own investigation in making a decision to invest in the Units. Investor has been urged to seek independent advice from its professional
advisors relating to the suitability of an investment in the Units in view of its overall financial needs and with respect to the
legal and tax implications of such investment. Investor believes that the investment in the Units is suitable for it based upon
its investment objectives and financial needs, and Investor has adequate means for providing for its current financial needs and
contingencies and has no need for liquidity with respect to its investment in the Units. The investment in the Units does not constitute
a significant portion of Investor’s investment portfolio.

 

    	 	2	 

     

    

 

7.4.Restrictions
on Transfer. Investor understands that (i) the Units have not been registered under the Securities Act or the securities laws
of certain states in reliance on specific exemptions from registration and (ii) the Units cannot be resold, pledged, assigned or
otherwise disposed of unless they are subsequently registered under the Securities Act and under applicable securities laws of
certain states, or an exemption from such registration is available. Each certificate representing the Units will bear a restrictive
legend relating to such restrictions. In addition, Investor understands that (x) no securities administrator of any state or the
federal government has recommended or endorsed the Offering or made any finding or determination relating to the fairness of an
investment in the Units and (y) the Company is relying on Investor’s representations and agreements for the purpose of determining
whether this transaction meets the requirements of the exemptions afforded by the Securities Act and certain state securities laws.
Investor understands that the Company is under no obligation to register the Units or to assist Investor in complying with any
exemption from such registration under the Securities Act or any state securities laws

 

7.5.Investment
Representation. Investor is purchasing the Units for its own account for investment and not with a view to, or for sale in
connection with, any subsequent distribution of the securities, nor with any present intention of selling or otherwise disposing
of all or any part of the Units in violation of the Federal securities laws.

 

7.6.Entity Authority.
If Investor is a corporation, partnership, company, trust, employee benefit plan, individual retirement account, Keogh plan or
other tax-exempt entity, it is authorized and qualified to become an investor in the Units and the person signing this Subscription
Agreement on behalf of such entity has been duly authorized by such entity to do so.

 

7.7.No Offer
Until Determination of Suitability. Investor acknowledges that any delivery to Investor of the documents relating to the Offering
prior to the determination by the Company of Investor’s suitability will not constitute an offer of the Units until such
determination of suitability is made.

 

7.8.For Florida
Residents. The Units have not been registered under the Securities Act of 1933, as amended (“1933 Act”), or the
Florida Securities and Investor Protection Act (“Florida Securities Act”), by reason of specific exemptions thereunder
relating to the limited availability of the Offering. The Units cannot be sold, transferred or otherwise disposed of to any person
or entity unless subsequently registered under the 1933 Act or the Florida Securities Act, if such registration is required. Pursuant
to Section 517.061(11) of the Florida Securities Act, when sales are made to five (5) or more persons in Florida, any sale made
pursuant to Subsection 517.061(11) of the Florida Securities Act will be voidable by such Florida purchaser either within three
(3) days after the first tender of consideration is made by the purchaser to the issuer, an agent of the issuer, or an escrow agent,
or within three (3) days after the availability of the privilege is communicated to such purchaser, whichever occurs later. In
addition, as required by Section 517.061(11)(a)(3) of the Florida Securities Act and by Rule 69W-500.005(5)(a) thereunder, if Investor
is a Florida resident Investor may have, at the offices of the Company, at any reasonable hour, after reasonable notice, access
to the materials set forth in such Rule that the Company can obtain without unreasonable effort or expense.

 

 

    	 	3	 

     

    

 

8.Registration
Rights. If the Company proposes to register any of its Common Stock, including the Registrable Securities (as defined below)
(other than in connection with registrations on Form S-4 or S-8 (or similar forms) promulgated by the SEC and any successor or
similar forms), and the registration form to be used may be used for the registration of the Registrable Securities (a “Piggyback
Registration”), the Company shall give prompt written notice to the Holders of the Registrable Securities and the holders
of the Warrants exercisable for Registrable Securities (in any event within three Business Days after the filing of the registration
statement relating to the Piggyback Registration), and, shall include in such Piggyback Registration (and in all related registrations
or qualifications under blue sky laws and in any related underwritten offering) all Registrable Securities with respect to which
the Company has received written requests for inclusion therein within 10 days after delivery of the Company’s notice, subject
to the applicable rules and regulations of the U.S. Securities and Exchange Commission and to the Investor becoming party to any
underwriting agreement, and agreeing to the terms of any lock-up restrictions imposed by the underwriters, in connection with any
related underwritten offering. “Registrable Securities” means the shares of Common Stock issued as part of the Units
and the shares of Common Stock issuable upon exercise of the Warrants.

 

9.Indemnification.
Investor hereby agrees to indemnify and hold harmless the Company, its officers, directors, shareholders, employees, agents and
attorneys against any and all losses, claims, demands, liabilities, and expenses (including reasonable legal or other expenses
incurred by each such person in connection with defending or investigating any such claims or liabilities, whether or not resulting
in any liability to such person or whether incurred by the indemnified party in any action or proceeding between the indemnitor
and indemnified party or between the indemnified party and any third party) to which any such indemnified party may become subject,
insofar as such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged
untrue statement of a material fact made by Investor and contained herein or (b) arise out of or are based upon any breach by Investor
of any representation, warranty or agreement made by Investor contained herein

 

10.Severability;
Remedies. In the event any part or parts of this Subscription Agreement are found to be void, the remaining provisions
of this Subscription Agreement are nevertheless binding with the same effect as though the void part or parts were deleted.

 

11.Governing
Law. This Agreement shall be governed by and construed in accordance with the law of the State of Delaware regardless of
the law that might otherwise govern under applicable principles of conflicts of law thereof.

 

12.Counterparts.
This Subscription Agreement may be executed in one or more counterparts, each of which will be deemed an original but all of which
together will constitute one and the same instrument. The execution of this Subscription Agreement may be by actual or facsimile
signature.

 

13.Benefit.
Except as otherwise set forth herein, this Subscription Agreement is binding upon and inures to the benefit of the parties hereto
and their respective heirs, executors, personal representatives, successors and assigns.

 

14.Notices.
All notices, offers, acceptance and any other acts under this Subscription Agreement (except payment) must be in writing, and is
sufficiently given if delivered to the addressees in person, by overnight courier service, facsimile, electronic transmission (including
via email) or, if mailed, postage prepaid, by certified mail (return receipt requested), and will be effective three days after
being placed in the mail if mailed, or upon receipt or refusal of receipt, if delivered personally or by courier or confirmed telecopy
or other electronic transmission (including via email), in each case addressed to a party. All communications to Investor should
be sent to Investor’s address on the signature page hereto. All communications to the Company should be sent to:

 

 

LONG ISLAND ICED TEA CORP.

116 Charlotte Avenue

Hicksville, NY 11801

Attention: Philip Thomas

Telephone: (917) 686-1298

Facsimile:

Email: pthomas@longislandteas.com

    	 	4	 

     

    

 

 

15.Oral
Evidence. This Subscription Agreement constitutes the entire agreement between the parties with respect to the subject
matter hereof and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter
hereof. This Subscription Agreement may not be changed, waived, discharged, or terminated orally, but rather, only by a statement
in writing signed by the party or parties against which enforcement or the change, waiver, discharge or termination is sought.

 

16.Paragraph
Headings. Paragraph headings herein have been inserted for reference only and will not be deemed to limit or otherwise
affect, in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Subscription Agreement.

 

17.Survival
of Representations, Warranties and Agreements. The representations, warranties and agreements contained herein will survive
the delivery of, and the payment for, the Units.

 

 

[QUESTIONNAIRES AND SIGNATURE PAGES FOLLOW]

 

    	 	5	 

     

    

 

INDIVIDUAL and JOINT INVESTORS –
Complete All Information

Additional information may be requested

 

 

	Investor’s Name:	 	 

 
	Date of Birth:	 	 	SSN/Tax
    ID:	 	 

 

	Co-Investor Name:	 	 

 

	Date of Birth:	 	 	SSN/Tax
    ID:	 	 

 

	Home Street Address:	 	 

 

	City:	 	 	 	State:	 	 	Zip
    Code:	

 

	Mailing Street Address:	 	 

 

	City:	 	 	 	State:	 	 	Zip
    Code:	

 

	Work
    Phone:	 	 	 	Home
    Phone:	 	 

 

	E-Mail Address:	 	 

 

Do you believe
you have sufficient knowledge and experience in financial and business matters to evaluate the merits and risks of the Units?

 

 ̈
Yes ̈
No

 

    	 	6	 

     

    

 

ENTITY INFORMATION – Complete All
Information

 

	Entity Name:	 	 

 

	Tax ID:	 	 	State of Formation:	 	 

 

	Company Street Address:	 	 

 

	City:	 	 	 	State:	 	 	Zip Code:	 

 

	Primary Contact:	 	 	 	Title:	 	 
	 	 	 	 	 	 	 
	Telephone Number:	 	 	 	Fax Number:	 	 

 

	Email Address:	 	 

 

Do you believe you have sufficient knowledge
and experience in financial and business matters to evaluate the merits and risks of the Units?

 

 ̈
Yes ̈ No

 

Have you participated in other private
placements?  ̈ Yes ̈ No

 

Are you familiar with the risk aspects
and the non-liquidity of investments such as the securities for which you seek to subscribe?  ̈
Yes ̈ No

 

Investment Objectives (Please select one):
 ̈ Speculation  ̈ Growth  ̈
Income  ̈ Capital Preservation

 

	Investor’s Information: Employer:	 	 

 

	Title:	 	 	Type of Business:	 	 

 

	Employer’s Address:	 	 

 

	Income: Expected 2015:	 	 	 	Actual 2014:	 	 	 	Actual 2013:	 

 

	Net Worth:	 	 	Total Value of Investments:	 	 

  

	Co-Investor’s Information: Employer:	 	 

 

	Title:	 	 	Type of Business:	 	 

 

	Employer’s Address:	 	 

 

	Income: Expected 2015:	 	 	 	Actual 2014:	 	 	 	Actual 2013:	 

 

	Net Worth:	 	 	Total Value of Investments:	 	 

  

    	 	7	 

     

    

 

ALL MUST COMPLETE

 

 

Accredited
Investor Status*:

 

Please check one or more of the following definitions of
“accredited investor,” if any, which applies to you. If none of the following applies to you, you may not qualify to
take parting this offering.

 

	 ̈	A Bank as defined in Section 3(a)(2) of the Act, or any savings association or institution as defined in Section 3(a)(5)(A) of the Securities Act of 1933, as amended (the “Act”).
	 	 
	 ̈	Any broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
	 	 
	 ̈	An insurance company as defined in Section 2(13) of the Act.
	 	 
	 ̈	Investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”) or a business development company as defined in Section 2(a)(48) of the Investment Company Act.
	 	 
	 ̈	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, as amended.
	 	 
	 ̈	Plan established and maintained by a state, or its political subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000.
	 	 
	 ̈	Any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, as amended, if the investment decision is made by a plan fiduciary, as defined in the Act, which is either a bank, savings and loan association, insurance company, or registered investment advisor, or if the plan has assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions 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, as amended.
	 	 
	 ̈	An organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation or Partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000.
	 	 
	 ̈	A natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of purchase exceeds $1,000,000.  For purposes hereof net worth shall be deemed to include ALL of your assets, liquid or illiquid (including such items as home, furnishings, automobile and restricted securities) MINUS any liabilities (including such items as home mortgages and other debts and liabilities).

 

___________________________

* As defined in
Rule 501(a) of Regulation D of the Securities Act.

 

     

     

    

 

 

	 ̈	
        A natural person who had an individual income in excess of $200,000
        in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years
        and has a reasonable expectation of reaching the same income level in the current year.

         

        For purposes hereof the term “income” is not limited
        to “adjusted gross income” as that term is defined for federal income tax purposes, but rather includes certain items
        of income which are deducted in computing “adjusted gross income.” For investors who are salaried employees, the gross
        salary of such investor, minus any significant expenses personally incurred by such investor in connection with earning the salary,
        plus any income from any other source including unearned income, is a fair measure of “income” for purposes hereof.
        For investors who are self-employed, “income” is generally construed to mean total revenues received during the calendar
        year minus significant expenses incurred in connection with earning such revenues.

         

	 ̈	A trust, with assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2) (ii) of Regulation D of the Act.
	 	 
	 ̈	Any entity in which all of the equity owners are Accredited Investors.
	 	 
	 ̈	A director or officer of the Company.

 

 

     

     

    

 SIGNATURE PAGE

 

 

I/We am(are) affirming that all the information contained herein
is true and correct to the best of my/our knowledge and belief, including the attached schedule. If I am signing on behalf of an
entity or trust I represent I have the authority to make investment decisions for the entity. I also understand that a background/credit
check maybe conducted for the purposes of detecting and deterring money laundering.

 

 

 

	 	 	 
	Signature	 	Date
	 	 	 
	 	 	 
	 	 	 
	Print Name	 	 
	 	 	 
	 	 	 
	 	 	 
	Title (if applicable)	 	 
	 	 	 
	 	 	 
	 	 	 
	Signature	 	Date
	 	 	 
	 	 	 
	 	 	 
	Print Name	 	 
	 	 	 
	 	 	 
	 	 	 
	Title (if applicable)	 	 

 

 

The foregoing subscription is accepted and the Company hereby
agrees to be bound by its terms.

 

LONG ISLAND ICED TEA
CORP.

 

 

	 	 	 
	Name	 	Title:
	 	 	 
	 	 	 
	Date	 	 

 

     

     

    

 

 

Additional Information

 

 

Trusts (Complete for all Trustees and Person who have Contributed
Assets):

 

 

_________________________

Name

 

Please check the appropriate box:

 

 ̈
Trustee ̈ Contributed
Assets

 

_________________________

Name

 

Please check the appropriate box:

 

 ̈
Trustee ̈ Contributed
Assets

 

 

 

 

 

_________________________

Name

 

Please check the appropriate box:

 

 ̈
Trustee ̈ Contributed
AssetsExhibit 10.3 

 

EXHIBIT A

 

NEITHER THIS SECURITY NOR THE SECURITIES
FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE 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. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

Long
Island Iced Tea Corp.

 

Warrant Shares: _______Initial Exercise
Date: _______, 2015

Issue Date: _______, 2015

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after September 17, 2015 (the “Initial Exercise Date”) and on or prior to the close of business on the three
year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for
and purchase from Long Island Iced Tea Corp., a Delaware corporation (the “Company”), up to ______ shares (as
subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase price of one share of Common
Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1.Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Subscription Agreement
(the “Subscription Agreement”), between the Company and the original Holder of this Warrant, pursuant to which
the original Holder acquired this Warrant.

 

Section 2.Exercise.

 

    	 	1	 

     

    

 

a)Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing
on the books of the Company) of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise in the form annexed
hereto. Within three (3) Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received
payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United
States bank. If payment of the aggregate Exercise Price is not received within such three (3) Trading Day period, such exercise
shall be deemed void and of no effect. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee
(or other type of guarantee or notarization) of any Notice of Exercise form be required. Notwithstanding anything herein to the
contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all
of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender
this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered
to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available
hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to
the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant
Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1)
Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that,
by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number
of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

b)Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $6.00, subject to adjustment hereunder
(the “Exercise Price”).

 

 

c)
Mechanics of Exercise.

 

i.Delivery
of Warrant Shares Upon Exercise. Warrant Shares purchased hereunder shall be transmitted by the Transfer Agent to the Holder
by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through
its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and
either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant
Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations
pursuant to Rule 144, and otherwise by physical delivery of a certificate, registered in the Company’s share register in
the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise
to the address specified by the Holder in the Notice of Exercise by the date that is three (3) Trading Days after the delivery
to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). The Warrant Shares
shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become
a holder of record of such shares for all purposes, as of the date the Warrant has been exercised and payment to the Company of
the aggregate Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(v) prior to the
issuance of such shares, has been made.

 

    	 	2	 

     

    

 

ii.Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii.Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.

 

No Fractional Shares or Scrip.
No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction
of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either
pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or
round up to the next whole share.

 

v.Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of Warrant Shares, all of which taxes and expenses shall be paid by the Company,
and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant
when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company
may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The
Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository
Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery
of the Warrant Shares.

 

    	 	3	 

     

    

 

vi.Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

Section 3.Certain
Adjustments.

 

a)Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, or (iii) the Company, directly or indirectly, in one or more related transactions effects
any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which
the Common Stock is effectively converted into or exchanged for other securities, cash or property, (each a “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall receive, for each Warrant Share that
would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, the number of
shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any
additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction
by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental
Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise,
the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount
of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall
apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different
components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property
to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it
receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity
in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in
writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions
of this Section 3(b) pursuant to written agreements and shall deliver to the Holder in exchange for this Warrant a security of
the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable
for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares
of Common Stock acquirable and receivable upon exercise of this Warrant prior to such Fundamental Transaction, and with an exercise
price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of
the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number
of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately
prior to the consummation of such Fundamental Transaction). Upon the occurrence of any such Fundamental Transaction, the Successor
Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right
and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such
Successor Entity had been named as the Company herein.

 

 

    	 	4	 

     

    

 

c)Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

d)Notice
to Holder.

 

i.Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of
Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last
address as it shall appear upon the Warrant Register of the Company, at least 10 calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common
Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the
date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares
of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall
not affect the validity of the corporate action required to be specified in such notice. The Holder shall remain entitled to exercise
this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice
except as may otherwise be expressly set forth herein.

 

    	 	5	 

     

    

 

Section 4.Redemption.

 

a)Redemption.
Subject to Section 4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any
time while they are exercisable and prior to their expiration, at the office of the Company, upon the notice referred to in Section
4(b), at the price of $0.01 per Warrant (“Redemption Price”), provided that, (i) the Common Stock is listed
on The NASDAQ Stock Market or another national exchange, and the last sale price of the Common Stock on the first day of trading
on such exchange is at least $7.50; or (ii) the last sales price of the Common Stock has been at least $10.00 per share (subject
to adjustment in accordance with Section 3 hereof), on each of thirty consecutive (30) trading days (“30-Day Trading Period”)
ending on the third business day prior to the date on which notice of redemption is given.

 

b)Date
Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants, the Company shall
fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail,
postage prepaid, by the Company not less than 30 days prior to the Redemption Date to the registered holders of the Warrants to
be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided
shall be conclusively presumed to have been duly given whether or not the registered holder received such notice.

 

    	 	6	 

     

    

 

c)Exercise
After Notice of Redemption. The Warrants may be exercised, for cash at any time after notice of redemption shall have been
given by the Company pursuant to Section 4(b) hereof and prior to the Redemption Date. On and after the Redemption Date, the record
holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

Section 5.Transfer
of Warrant.

 

a)Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 5(d) hereof and to the provisions
of Section 7.4 of the Subscription Agreement, this Warrant and all rights hereunder (including, without limitation, any registration
rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated
agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder
or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or
assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue
to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.
Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company
unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within
three (3) Trading Days of the date the Holder delivers an assignment form to the Company assigning this Warrant full. The Warrant,
if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having
a new Warrant issued.

 

b)New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the original
Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

    	 	7	 

     

    

 

c)Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

d)Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer
of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and
under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or
current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer,
that the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 7.4 of the Subscription
Agreement.

 

e)Representation
by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any
exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for
distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, except pursuant to sales registered or exempted under the Securities Act.

 

Section 6.Miscellaneous.

 

a)No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights
as a stockholder of the Company prior to the exercise hereof as set forth in Section 2, except as expressly set forth in Section
3.

 

b)Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

 

    	 	8	 

     

    

 

c)Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d)Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the trading market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking
any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

    	 	9	 

     

    

 

e)Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Subscription Agreement.

 

f)Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions
upon resale imposed by state and federal securities laws.

 

g)Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact that all
rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of
this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be
sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of
appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its
rights, powers or remedies hereunder.

 

h)Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Subscription Agreement.

 

i)Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j)Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

k)Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

    	 	10	 

     

    

 

l)Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m)Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n)Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

 

********************

 

 

(Signature Page Follows)

 

    	 	11	 

     

    

 

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

 

	 	Long Island Iced Tea Corp.
	 	 
	 	By:	
	 	 	Name:
	 	 	Title:  

 

 

    	 	12	 

     

    

 

 

NOTICE OF EXERCISE

 

To:Long
Island Iced Tea Corp. 

 

(1)The undersigned
hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised
in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)Payment shall
be in lawful money of the United States.

 

(3)Please issue said
Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4) Accredited Investor.
The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933,
as amended.

 

[SIGNATURE
OF HOLDER]

 

	Name
    of Investing Entity:	 	 

 

	Signature
    of Authorized Signatory of Investing Entity:	 	 

 

	Name
    of Authorized Signatory:	 	 

 

	Title
    of Authorized Signatory:	 	 

 

	Date:	 	 

  

 

    	 

     

    

ASSIGNMENT FORM

 

 

(To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED,
the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	
	 	(Please Print)
	 	 
	Address:	
	 	(Please Print)
	Dated: _______________ __, ______	 
	 	 
	Holder’s
Signature: ________________	 
	 	 
	Holder’s
Address: ________________

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