Document:

Exhibit 10.22

 

ESCROW AGREEMENT

 

This ESCROW AGREEMENT
(this “Agreement”) dated as of January 21, 2015 is entered into by and among Tantech Holdings Ltd. (the “Company”),
Tanbsok Group Ltd. (the “Selling Shareholder”), ViewTrade Securities, Inc. (the “Placement Agent”),
and _______________ (the “Escrow Agent”).

 

WITNESSETH:

 

WHEREAS, the Company
is offering to certain investors 3,200,000 shares of its common stock, at an assumed offering price of $5.00 per share, the midpoint
of the anticipated offering price range of $4.00 to $6.00 per share (the “Offering”);

 

WHEREAS, the Company
and Placement Agent expect that the Offering will close on or before the close of business on February 13, 2015 (subject to extension
with the consent of the Company and Placement Agent, the “Closing Date”);

 

WHEREAS, the Selling
Shareholder has agreed to deposit an aggregate amount of Five Hundred Thousand Dollars ($500,000) (the “Escrowed Funds”)
from the proceeds of the Offering to be received by the Selling Shareholder with the Escrow Agent, in a non-interest bearing escrow
account to be determined, to be held and disbursed by the Escrow Agent pursuant to the terms and conditions of this Agreement;

 

WHEREAS, the Escrow
Agent is willing to hold the Escrowed Funds in escrow pursuant to and subject to the terms and conditions of this Agreement; and

 

NOW, THEREFORE, in
consideration of the mutual promises herein contained and intending to be legally bound hereby, the parties hereto hereby agree
as follows:

 

		1.	Appointment of Escrow Agent. The Company, Placement Agent hereby appoint the Escrow Agent
as escrow agent in accordance with the terms and subject to the conditions set forth herein and the Escrow Agent hereby accepts
such appointment.

 

		2.	Delivery of the Escrowed Funds. Upon the closing of the Offering, the Escrowed Funds shall
be delivered on behalf of the Selling Shareholder by the Signature Bank, as escrow agent for the Offering, into a non-interest
bearing escrow account maintained by the Escrow Agent (the “Escrow Account”) by wire transfer in accordance
with the wire transfer instructions set forth on Schedule A hereto. In no event shall the aggregate amount of Escrowed Funds
delivered to the Escrow Account be less than Five Hundred Thousand Dollars ($500,000).

 

		3.	Escrow Agent to Hold and Disburse the Escrowed Funds. The Escrow Agent will retain the Escrowed
Funds in a non-interest bearing escrow account and disburse the Escrowed Funds pursuant to the terms of this Agreement, as follows:

 

a.            The
Escrowed Funds shall be held by the Escrow Agent for the purpose of indemnification under Section 5 hereof by the Company and the
Selling Shareholder, for a period of two (2) years from the closing of the Offering. Disbursement of such escrow funds shall be
determined by an independent third-party trustee, to be chosen by mutual consent of the Company, Selling Shareholder and Placement
Agent, subject to the presence of any threatened litigation or proceeding in connection to the Placement Agent acting in its capacity
as placement agent in the Offering and the aftermarket effect of the Offering.

 

    	 

    	 

    

 

b.            In
the event that any litigation or proceeding arising out of any matter in connection with the Offering in connection to the Placement
Agent acting in its capacity as placement agent within two (2) years following the Closing Date and for which the Company, the
Selling Shareholder, the Placement Agent, the Escrow Agent or the Escrowed Funds becomes the subject of such litigation or proceeding,
the Placement Agent, Selling Shareholder and the Company hereby authorize the Escrow Agent, at the Placement Agent’s sole
instruction upon Placement Agent’s written notice to the Escrow Agent if not otherwise so required, to release and deposit
the Escrowed Funds with the clerk of the court in which the litigation is pending for the purpose of indemnifying and defending
the Placement Agent in such litigation and proceeding, and thereupon the Escrow Agent shall be relieved and discharged of any further
responsibility with regard thereto to the extent determined by any such court. The Company, the Selling Shareholder and the Placement
Agent further hereby authorize the Escrow Agent, if it receives conflicting claims to any of the Escrowed Funds, is threatened
with litigation, in its capacity as escrow agent under this Agreement, or if the Escrow Agent determines it is necessary to do
so for any other reason relating to this Agreement or the Offering, to interplead all interested parties in any court of competent
jurisdiction and to deposit the Escrowed Funds with the clerk of that court and thereupon the Escrow Agent shall be relieved and
discharged of any further responsibility hereunder to the parties from which they were received to the extent determined by such
court. 

 

		4.	Exculpation and Indemnification of Escrow Agent.

 

a.            The
Escrow Agent shall have no duties or responsibilities other than those expressly set forth herein. The Escrow Agent shall have
no duty to enforce any obligation of any person to make any payment or delivery, or to direct or cause any payment or delivery
to be made, or to enforce any obligation of any person to perform any other act. The Escrow Agent shall be under no liability to
the other parties hereto or anyone else, by reason of any failure, on the part of any party hereto or any maker, guarantor, endorser
or other signatory of a document or any other person, to perform such person’s obligations under any such document. Except
for amendments to this Agreement referenced below, and except for written instructions given to the Escrow Agent by the Escrowing
Parties relating to the Escrowed Funds, the Escrow Agent shall not be obligated to recognize any agreement between or among any
of the Escrowing Parties, notwithstanding that references thereto may be made herein and the Escrow Agent has knowledge thereof.

 

b.            The
Escrow Agent shall not be liable to the Company, the Placement Agent, or to anyone else for any action taken or omitted by it,
or any action suffered by it to be taken or omitted, in good faith and acting upon any order, notice, demand, certificate, opinion
or advice of counsel (including counsel chosen by the Escrow Agent), statement, instrument, report, or other paper or document
(not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained), which is believed by the Escrow Agent to be genuine and to be signed or presented by the
proper person or persons. The Escrow Agent shall not be bound by any of the terms thereof, unless evidenced by written notice delivered
to the Escrow Agent signed by the proper party or parties and, if the duties or rights of the Escrow Agent are affected, unless
it shall give its prior written consent thereto.

 

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c.            The
Escrow Agent shall not be responsible for the sufficiency or accuracy of the form, or of the execution, validity, value or genuineness
of, any document or property received, held or delivered to it hereunder, or of any signature or endorsement thereon, or for any
lack of endorsement thereon, or for any description therein; nor shall the Escrow Agent be responsible or liable to the Company,
the Placement Agent, or to anyone else in any respect on account of the identity, authority or rights, of the person executing
or delivering or purporting to execute or deliver any document or property or this Agreement. The Escrow Agent shall have no responsibility
with respect to the use or application of the Escrowed Funds pursuant to the provisions hereof.

 

d.            The
Escrow Agent shall have the right to assume, in the absence of written notice to the contrary from the proper person or persons,
that a fact or an event, by reason of which an action would or might be taken by the Escrow Agent, does not exist or has not occurred,
without incurring liability to the Company, the Placement Agent, or to anyone else for any action taken or omitted to be taken
or omitted, in good faith and in the exercise of its own best judgment, in reliance upon such assumption.

 

e.            To
the extent that the Escrow Agent becomes liable for the payment of taxes, including withholding taxes, in respect of income derived
from the investment of the Escrowed Funds, or any payment made hereunder, the Escrow Agent may pay such taxes; and the Escrow Agent
may withhold from any payment of the Escrowed Funds such amount as the Escrow Agent estimates to be sufficient to provide for the
payment of such taxes not yet paid, and may use the sum withheld for that purpose. The Escrow Agent shall be indemnified and held
harmless against any liability for taxes and for any penalties in respect of taxes, on such investment income or payments in the
manner provided in Section 4(f).

 

f.             The
Escrow Agent will be indemnified and held harmless by the Company from and against all expenses, including all counsel fees and
disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or proceeding involving any claim, or in
connection with any claim or demand, which in any way, directly or indirectly, arises out of or relates to this Agreement, the
services of the Escrow Agent hereunder, except for claims relating to gross negligence or reckless misconduct by the Escrow Agent
or breach of this Agreement by the Escrow Agent, or the monies or other property held by it hereunder. Promptly, but no later than
three (3) business days, after the receipt by the Escrow Agent of notice of any demand or claim or the commencement of any action,
suit or proceeding, the Escrow Agent shall, if a claim in respect thereof is to be made by the Escrow Agent against the Company,
notify the Company in writing, but the failure by the Escrow Agent to give such notice shall not relieve the Company from any liability
which the Company may have to the Escrow Agent hereunder, unless the failure of the Escrow Agent to give such notice prejudices
or otherwise impairs the Company’s ability to defend any demand, claim, action suit or proceeding. Notwithstanding any obligation
to make payments and deliveries hereunder, the Escrow Agent may retain and hold for such time as it deems necessary such amount
of monies or property as it shall, from time to time, reasonably deem sufficient to indemnify itself for any such loss or expense.

 

g.            For
purposes hereof, the term “expense or loss” shall include all amounts paid or payable to satisfy any claim, demand
or liability, or in settlement of any claim, demand, action, suit or proceeding settled with the express written consent of the
Escrow Agent, and all costs and expenses, including, but not limited to, counsel fees and disbursements, paid or incurred in investigating
or defending against any such claim, demand, action, suit or proceeding.

 

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		5.	Indemnification by the Company. The Company agrees to indemnify and hold harmless the Placement
Agent and each of the other Indemnified Parties (as hereinafter defined) from and against any and all losses, claims, damages,
obligations, penalties, judgments, awards, liabilities, costs, expenses and disbursements, and any and all actions, suits, proceedings
and investigations in respect thereof and any and all legal and other costs, expenses and disbursements in giving testimony or
furnishing documents in response to a subpoena or otherwise (including, without limitation, the costs, expenses and disbursements,
as and when incurred, of investigating, preparing, pursing or defending any such action, suit, proceeding or investigation (whether
or not in connection with litigation in which any Indemnified Party is a party)) (collectively, “Losses”), directly
or indirectly, caused by, relating to, based upon, arising out of, or in connection with, Placement Agent’s acting for the
Company, including, without limitation, any act or omission by the Placement Agent in connection with its acceptance of or the
performance or non-performance of its obligations under the Placement Agreement between the Company and Placement Agent (the Placement
Agreement), any breach by the Company of any representation, warranty, covenant or agreement contained in the Placement Agreement
(or in any instrument, document or agreement relating thereto, including any Registration Statement filed with the Securities and
Exchange Commission), or the enforcement by the Placement Agent of its rights under the Agreement or these indemnification provisions,
except to the extent that any such Losses are found in a final judgment by a court of competent jurisdiction (not subject to further
appeal) to have resulted primarily and directly from the gross negligence or willful misconduct of the Indemnified Party seeking
indemnification hereunder. The Company also agrees that no Indemnified Party shall have any liability (whether direct or indirect,
in contract or tort or otherwise) to the Company for or in connection with the engagement of the Placement Agent by the Company
or for any other reason, except to the extent that any such liability is found in a final judgment by a court of competent jurisdiction
(not subject to further appeal) to have resulted primarily and directly from such Indemnified Party’s gross negligence or
willful misconduct.

 

These Indemnification
Provisions shall extend to the following persons (collectively, the “Indemnified Parties”): ViewTrade Securities,
Inc., its present and former affiliated entities, managers, members, officers, employees, legal counsel, agents and controlling
persons (within the meaning of the federal securities laws), and the officers, directors, partners, stockholders, members, managers,
employees, legal counsel, agents and controlling persons of any of them. These indemnification provisions shall be in addition
to any liability, which the Company may otherwise have to any Indemnified Party.

 

If any action,
suit, proceeding or investigation is commenced, as to which an Indemnified Party proposes to demand indemnification, it shall notify
the Company with reasonable promptness; provided, however, that any failure by an Indemnified Party to notify the
Company shall not relieve the Company from its obligations hereunder. An Indemnified Party shall have the right to retain counsel
of its own choice to represent it, and the fees, expenses and disbursements of such counsel shall be borne by the Company. Any
such counsel shall, to the extent consistent with its professional responsibilities, cooperate with the Company and any counsel
designated by the Company. The Company shall be liable for any settlement of any claim against any Indemnified Party made with
the Company’s written consent. The Company shall not, without the prior written consent of the Placement Agent, settle or
compromise any claim, or permit a default or consent to the entry of any judgment in respect thereof, unless such settlement, compromise
or consent (i) includes, as an unconditional term thereof, the giving by the claimant to all of the Indemnified Parties of an unconditional
release from all liability in respect of such claim, and (ii) does not contain any factual or legal admission by or with respect
to an Indemnified Party or an adverse statement with respect to the character, professionalism, expertise or reputation of any
Indemnified Party or any action or inaction of any Indemnified Party.

 

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In order to
provide for just and equitable contribution, if a claim for indemnification pursuant to these indemnification provisions is made
but it is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that such indemnification
may not be enforced in such case, even though the express provisions hereof provide for indemnification in such case, then the
Company shall contribute to the Losses to which any Indemnified Party may be subject (i) in accordance with the relative benefits
received by the Company and its stockholders, subsidiaries and affiliates, on the one hand, and the Indemnified Party, on the other
hand, and (ii) if (and only if) the allocation provided in clause (i) of this sentence is not permitted by applicable law, in such
proportion as to reflect not only the relative benefits, but also the relative fault of the Company, on the one hand, and the Indemnified
Party, on the other hand, in connection with the statements, acts or omissions which resulted in such Losses as well as any relevant
equitable considerations. No person found liable for a fraudulent misrepresentation shall be entitled to contribution from any
person who is not also found liable for fraudulent misrepresentation. The relative benefits received (or anticipated to be received)
by the Company and its stockholders, subsidiaries and affiliates shall be deemed to be equal to the aggregate consideration payable
or receivable by such parties in connection with the transaction or transactions to which the Agreement relates relative to the
amount of fees actually received by the Placement Agent in connection with such transaction or transactions. Notwithstanding the
foregoing, in no event shall the amount contributed by all Indemnified Parties exceed the amount of fees previously received by
the Placement Agent pursuant to the Agreement.

 

The indemnification
provisions in this Section 5 shall be binding upon the Company and its successors and assigns and shall inure to the benefit of
the Indemnified Parties and their respective successors, assigns, heirs and personal representatives.

 

		6.	Termination of Agreement and Resignation of Escrow Agent.

 

a.            This
Agreement shall terminate upon disbursement of all of the Escrowed Funds provided that the rights of the Escrow Agent and the obligations
of the Company and the Placement Agent under Section 4 shall survive the termination hereof.

 

b.            The
Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company and the Placement
Agent at least five (5) business days written notice thereof (the “Notice Period”). As soon as practicable after
its resignation, the Escrow Agent shall, if it receives notice from the Company and the Placement Agent within the Notice Period,
turn over to a successor escrow agent appointed by the Company and the Placement Agent all Escrowed Funds (less such amount as
the Escrow Agent is entitled to continue to retain and hold in escrow pursuant to Section 4(f) and to retain pursuant to Section
7) upon presentation of the document appointing the new escrow agent and its acceptance thereof. If no new agent is so appointed
within the Notice Period, the Escrow Agent shall return the Escrowed Funds to the parties from which they were received without
interest or deduction.

 

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		7.	Form of Payments by Escrow Agent.

 

a.            Any
payments of the Escrowed Funds by the Escrow Agent pursuant to the terms of this Agreement shall be made by wire transfer unless
directed to be made by check by the Escrowing Parties.

 

b.            All
amounts referred to herein are expressed in United States Dollars and all payments by the Escrow Agent shall be made in such dollars.

 

		8.	Compensation. Escrow Agent shall be entitled to $[_] as compensation for its services rendered under
this Agreement, which amount shall be delivered to an account designated by the Escrow Agent on the same date when the Escrowed
Fund is delivered into the Escrow Account.

 

		9.	Notices. All notices, demands, consents, requests, instructions and other communications
to be given or delivered or permitted under or by reason of the provisions of this Agreement or in connection with the transactions
contemplated hereby shall be in writing and shall be deemed to be delivered and received by the intended recipient as follows:
(i) if personally delivered, on the business day of such delivery (as evidenced by the receipt of the personal delivery service),
(ii) if mailed certified or registered mail return receipt requested, two (2) business days after being mailed, (iii) if delivered
by overnight courier (with all charges having been prepaid), on the business day of such delivery (as evidenced by the receipt
of the overnight courier service of recognized standing), or (iv) if delivered by facsimile transmission, on the business day of
such delivery if sent by 6:00 p.m. in the time zone of the recipient, or if sent after that time, on the next succeeding business
day (as evidenced by the printed confirmation of delivery generated by the sending party’s telecopier machine). If any notice,
demand, consent, request, instruction or other communication cannot be delivered because of a changed address of which no notice
was given (in accordance with this Section 9), or the refusal to accept same, the notice, demand, consent, request, instruction
or other communication shall be deemed received on the second business day the notice is sent (as evidenced by a sworn affidavit
of the sender). All such notices, demands, consents, requests, instructions and other communications will be sent to addresses
or facsimile numbers as applicable set forth hereunder.

 

If to the Company, to:

 

Tantech Holdings Ltd.

Attn: Zhengyu Wang

c/o Zhejiang Tantech Bamboo Technology Co., Ltd

No. 10 Cen Shan Road, Shuige Industrial Zone

Lishui City, Zhejiang Province 323000, People’s
Republic of China. Phone: +86 (578)-226-2305

Facsimile: +86 (578) 261-2872

 

If to the Placement Agent, to:

 

ViewTrade Securities, Inc.

Attn: Doug K. Aguililla

7280 West Palmetto Park Road, Suite 105

Boca Raton, FL 33433

 

If to the Escrow Agent, to:

 

Facsimile:

 

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		10.	Further Assurances. From time to time on and after the date hereof, the Company and the
Placement Agent shall deliver or cause to be delivered to the Escrow Agent such further documents and instruments and shall do
and cause to be done such further acts as the Escrow Agent shall reasonably request (it being understood that the Escrow Agent
shall have no obligation to make any such request) to carry out more effectively the provisions and purposes of this Agreement,
to evidence compliance herewith or to assure itself that it is protected in acting hereunder.

 

		11.	Consent to Service of Process. The Company, the Placement Agent and the Escrow Agent hereby
irrevocably consent to the jurisdiction of the courts of the State of New York and of any Federal court located in such state in
connection with any action, suit or proceedings arising out of or relating to this Agreement or any action taken or omitted hereunder,
and waives personal service of any summons, complaint or other process and agrees that the service thereof may be made by certified
or registered mail directed to it at the address listed hereto.

 

		12.	Miscellaneous.

 

a.            This
Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing such
instrument to be drafted. The terms “hereby,” “hereof,” “hereunder,” and any similar terms,
as used in this Agreement, refer to the Escrow Agreement in its entirety and not only to the particular portion of this Agreement
where the term is used. The word “person” shall mean any natural person, partnership, corporation, government and any
other form of business of legal entity. All words or terms used in this Agreement, regardless of the number or gender in which
they were used, shall be deemed to include any other number and any other gender as the context may require. This Agreement shall
not be admissible in evidence to construe the provisions of any prior agreement.

 

b.            This
Agreement and the rights and obligations hereunder of the Company and the Placement Agent may not be assigned without the consent
of the Escrow Agent, other than by laws of descent or operation of law. This Agreement and the rights and obligations hereunder
of the Escrow Agent may be assigned by the Escrow Agent, with the prior consent of the Company. This Agreement shall be binding
upon and inure to the benefit of each party’s respective successors, heirs and permitted assigns. No other person shall acquire
or have any rights under or by virtue of this Agreement. This Agreement may not be changed orally or modified, amended or supplemented
without an express written agreement executed by the Escrow Agent, the Company and the Placement Agent, which consent shall not
be unreasonably withheld. This Agreement is intended to be for the sole benefit of the parties hereto and their respective successors,
heirs and permitted assigns, and none of the provisions of this Agreement are intended to be, nor shall they be construed to be,
for the benefit of any third person.

 

c.            This
Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York. The representations
and warranties contained in this Agreement shall survive the execution and delivery hereof and any investigations made by any party.
The headings in this Agreement are for purposes of reference only and shall not limit or otherwise affect any of the terms thereof.

 

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		13.	Execution of Counterparts. This Agreement may be executed in any number of counterparts,
by facsimile or other form of electronic transmission, each of which shall be deemed to be an original as of those whose signature
appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become binding when
one or more of the counterparts hereof, individually or taken together, are signed by all parties hereto.

 

[THE REMAINDER OF THE PAGE IS INTENTIONALLY
LEFT BLANK]

 

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[SIGNATURE PAGE TO ESCROW AGREEMENT]

 

IN WITNESS WHEREOF,
the parties have executed and delivered this Agreement on the day and year first above written.

 

	ESCROW AGENT:
	 
	By:	 
	Name: 
	Title: 
	 
	COMPANY:
	 
	TANTECH HOLDINGS LTD.
	 
	By:	 
	Name: ZHENGYU WANG
	Title:  CHAIRMAN
	 
	SELLING SHAREHOLDER:
	 
	TANBSOK GROUP LTD.
	 
	By:	 
	Name: YEFANG ZHANG
	Title: MANAGER
	 
	Placement agent:
	 
	VIEWTRADE SECURITIES, INC.
	 
	By:	 
	Name: DOUGLAS K. AGUILILLA
	Title:  DIRECTOR, INVESTMENT BANKING

 

    	 

    	 

    

 

Schedule
A

 

	ACCOUNT NAME:	TRUST ACCOUNT
	 	 
	ACCOUNT NO.:	 
	 	 
	ABA ROUTING NO.:	 
	 	 
	SWIFT CODE:	 
	 	 
	BANK:	 
	 	 
	REFERENCE:	 
	ATTN:	 

 

PLEASE WIRE IN U.S. DOLLARSwdhr_ex101.htm

Exhibit 10.1

 

INVESTMENT AGREEMENT

 

This Investment Agreement (this “Agreement”) is made and entered into as of January 7, 2015, by and between WeedHire International, Inc., a Delaware corporation (the “Company”) and David Bernstein (“Purchaser”).

 

RECITALS

 

A.           The Company has authorized the Certificate of Designation, Preferences, and Rights of Series A Preferred Stock (the “Series A Preferred”), a copy of which is attached hereto as Exhibit A (the “Certificate”), and the sale and issuance of 1,000,000 shares of the Series A Preferred (the “Shares”), to be issued and sold to Purchaser pursuant to this Agreement;

 

B.           Purchaser, the Chief Executive Officer of the Company, desires to purchase the Shares on the terms and conditions set forth herein and to provide further consideration in exchange for the Company filing the Certificate with the Delaware Secretary of State; and

 

C.           The Company desires to issue and sell the Shares on the terms and conditions set forth herein and cause the Certificate to be filed with the Delaware Secretary of State.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises, representations, warranties, and covenants hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. Purchase. The undersigned Purchaser hereby subscribes for 55,000 shares Series A Preferred Stock of the Company, ownership of which shall vest immediately, in exchange for $550.00 (the “Purchase Price”) payable to the Company at Closing (defined below).

 

2. Closing.  The closing of the sale and purchase of the Shares and other transactions contemplated hereby will take place at a time or place as the Company and Purchaser may mutually agree (the “Closing”).

 

3. Transactions to be Effected at the Closing.

 

3.1 At the Closing, Purchaser will deliver to Company:

 

(a) The Purchase Price to the account designated by the Company; and

 

(b) All other agreements, documents, instruments, and certificates required to be delivered to the Company pursuant to this Agreement.

 

3.2 At the Closing, the Company will deliver to Purchaser:

 

(a) stock certificates evidencing the Shares, free and clear of any liens and encumbrances; and

 

(b) all other agreements, documents, instruments, and certificates required to be delivered to Purchaser pursuant to this Agreement.

 

4. Transactions to be Effected Immediately after the Closing. No later than 24 hours after the Closing, the Company shall have caused the Certificate be filed with the Delaware Secretary of State and shall have provided evidence of such filing to Purchaser satisfactory to Purchaser in his sole discretion.

 

5. Status as Officer, Director and Current Shareholder.  The Purchaser hereby acknowledges that he is an Officer, a director and a current shareholder of the Company.

 

  

1

  

 

6. Representations and Warranties.  The Purchaser hereby affirms and restates for the purposes hereof all of the agreements, representations and warranties made to the Company in his Affiliate Subscription Agreement dated January 7, 2015, a copy of which is attached hereto as Exhibit “B”.

 

7. Binding Agreement.  The Purchaser agrees that the Purchaser may not cancel, terminate or revoke this Investment Agreement or any agreement of the Purchaser made hereunder, and that this Investment Agreement shall survive the death or disability of the Purchaser and shall be binding upon the heirs, successors, assigns, executors, administrators, guardians, conservators or personal representatives of the Purchaser.

 

8. Notices.  All notices or other communications given or made hereunder shall be in writing and shall be delivered or mailed by registered or certified mail, return receipt requested, postage prepaid, or delivered by, facsimile or e-mail to Purchaser at the address set forth below and to the Company at the address set forth below, or at such other place as the Company may designate by written notice to Purchaser.

 

9. Applicable Law.  This Investment Agreement and all amendments hereto shall be governed by and construed in accordance with the laws of the State of Delaware.

 

IN WITNESS WHEREOF, the parties have executed this Investment Agreement as of the date first written above.

 

WeedHire International, Inc.:

 

By: /s/ David Bernstein

Name: David Bernstein

Title: Chief Executive Officer

Purchaser:

/s/ David Bernstein

David Bernstein

 

  

2

  

 

Exhibit “A”

 

(see attached)

 

  

3

  

CERTIFICATE OF DESIGNATION, PREFERENCES AND

RIGHTS OF SERIES A PREFERRED STOCK

OF

WEEDHIRE INTERNATIONAL, INC.

(Pursuant to Delaware General Corporation Law)

 

        The undersigned, David Bernstein does hereby certify that:

                1. He is the Chief Executive Officer of WeedHire International, Inc., a Delaware corporation (the “Company”).

                2. The Company is authorized to issue 20,000,000 shares of preferred stock, none of which have been issued.

                3. The following resolutions were duly adopted by the board of directors of the Company (the “Board of Directors”):

        WHEREAS, the certificate of incorporation of the Company provides for a class of its authorized stock known as preferred stock, consisting of 20,000,000 shares, $0.000001 par value per share, issuable from time to time in one or more series;

        WHEREAS, the Board of Directors is authorized to fix the dividend rights, dividend rate, voting rights, conversion rights, rights and terms of redemption and liquidation preferences of any wholly unissued series of preferred stock and the number of shares constituting any series and the designation thereof, of any of them; and

        WHEREAS, it is the desire of the Board of Directors, pursuant to its authority as aforesaid, to fix the rights, preferences, restrictions and other matters relating to a series of the preferred stock, which shall consist of up to 1,000,000 shares of the preferred stock which the Company has the authority to issue, as follows:

        NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors does hereby provide for the issuance of a series of preferred stock for cash or exchange of other securities, rights or property and does hereby fix and determine the rights, preferences, restrictions and other matters relating to such series of preferred stock as follows:

Section 1. Designation, Amount and Par Value. There shall be a series of the voting preferred stock of the Company which shall be designated as the “Series A Preferred Stock,” $0.000001 par value, and the number of shares constituting such series shall be one million (1,000,000). Such number of shares may be increased or decreased by resolution of the Board of Directors; provided, however, that no decrease shall reduce the number of shares of Series A Preferred Stock to a number less than that of the shares then outstanding plus the number of shares issuable upon exercise of outstanding rights, options or warrants or upon conversion of outstanding securities issued by the Company.

Section 2. Liquidation. Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary (a “Liquidation”), the holders of the Series A Preferred Stock shall not be entitled to receive out of the assets, whether capital or surplus, of the Company any amounts and the entire assets of the Company to be distributed shall be ratably distributed among the holders of the Company’s common stock or other classes of stock as authorized from time to time by the Board of Directors of the Company.

Section 3. Voting Rights.

The holders of shares of Series A Preferred Stock shall have the following voting rights:

 

(a)           Each share of Series A Preferred Stock shall entitle the holder thereof to 1,000 votes on all matters submitted to a vote of the stockholders of the Company.  In the event that the votes by the holders of the Series A Preferred Stock do not total at least 51% of the votes of all classes of the Company’s authorized capital stock entitled to vote, then regardless of the provisions of this paragraph, in any such case, the votes cast by a majority of the holders of the Series A Preferred Stock shall be deemed to equal to 51% of all votes cast at any meeting of stockholders, or any issue put to the stockholders for voting and the Company may state that any such action approved by at least a majority of the holders of the Series A Preferred Stock was had by majority vote of the holders of all classes of the Company’s capital stock.

(b)           Except as otherwise provided herein, in the Company’s Certificate of Incorporation or bylaws, the holders of shares of Series A Preferred Stock, the holders of shares of Common Stock, and the holders of shares of any other capital stock of the Company having general voting rights shall vote together as one class on all matters submitted to a vote of stockholders of the Company.

Section 4. Conversion. The holders of the Series A Preferred Stock shall not have any conversion rights.

IN WITNESS THEREOF, the Company has caused this Certificate to be executed on its behalf by its authorized officer on January 7, 2015.

WeedHire International, Inc.:

By: /s/ David Bernstein                                                      

Name: David Bernstein                                                      

Title: Chief Executive Officer                                                      

Date: January 7, 2015

 

  

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Exhibit “B”

 

(see attached)

 

 

 

 

 

 

  

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WEEDHIRE INTERNATIONAL, INC.

Affiliate Subscription Agreement

David Bernstein (the “Subscriber”) hereby subscribes to purchase, on the terms and conditions herein set forth, and irrevocable submits this subscription agreement (the “Subscription Agreement”) to WeedHire International, Inc., a Delaware corporation (the “Company”), in connection with a private purchase from the Company (the “Offering”) of its Series A Preferred Stock, $0.000001 par value per share (the “Shares”), as described below.

 

1.           Subscription for the Purchase of Shares.

 

THE UNDERSIGNED, hereby subscribes to purchase 55,000 shares of the Company’s Series A Preferred Stock, $0.000001 par value per share (the “Shares”).  In this regard, the undersigned has deposited $550.00 with the Company, which is $0.01 per share multiplied by 55,000, which is the number of shares purchased.

1.2           Offer to Purchase.  Subscriber hereby irrevocably offers to purchase the Shares and has tendered the total price noted above payable to the order of WeedHire International, Inc. Subscriber recognizes and agrees that (i) this Subscription Agreement is irrevocable and, if Subscriber is a natural person, shall survive Subscriber’s death, disability or other incapacity, and (ii) the Company has complete discretion to accept or to reject this Subscription Agreement in its entirety and shall have no liability for any rejection of this Subscription Agreement.  This Subscription Agreement shall be deemed to be accepted by the Company only when the Company executes the Subscription Agreement.

 

1.3           Effect of Acceptance. Subscriber hereby acknowledges and agrees that on the Company’s acceptance of this Subscription Agreement, this agreement shall become a binding and fully enforceable agreement between the Company and the Subscriber.  As a result, on acceptance by the Company of this Subscription Agreement, Subscriber will become the record and beneficial holder of the Shares and the Company will be entitled to the purchase price of the Shares.

 

2.           Representation as to Investor Status.

 

2.1           Accredited Investor.  In order for the Company to sell the Shares in conformance with state and federal securities laws, the following information must be obtained regarding Subscriber’s investor status.  Please initial each item applicable to you as an investor in the Company.

 

_____           (a)           A natural person whose net worth, either individually or jointly with such person’s spouse, at the time of Subscriber’s purchase, exceeds $1,000,000;

 

_____           (b)           A natural person who had an individual income in excess of $200,000, or joint income with that person’s spouse in excess of $300,000, in each of the two most recent years and reasonably expects to reach the same income level in the current year;

 

_____           (c)           A bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity;

 

_____           (d)           A broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”);

 

_____           (e)           An insurance company as defined in section 2(13) of the Exchange Act;

 

_____           (f)           An investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act;

 

_____           (g)           A Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958;

 

_____           (h)           A plan established and maintained by a state, 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;

 

_____           (i)           An employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, if the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors;

 

  

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_____           (j)           A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;

 

_____           (k)           An organization described in Section 501(c)(3) of the Internal Revenue Code, or a corporation, business trust or partnership, not formed for the specific purpose of acquiring Shares, with total assets in excess of $5,000,000;

 

_____           (l)           A director or executive officer of the Company;

 

_____           (m)           A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring Shares, whose purchase is directed by a sophisticated person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of investing in the Company;

 

_____           (n)           An entity in which all of the equity owners qualify under any of the above subparagraphs.

 

_____           (o)           Subscriber does not qualify under any of the investor categories set forth in (a) through (l) above.

2.2           Net Worth.  The term “net worth” means the excess of total assets over total liabilities (including personal and real property, but excluding the estimated fair market value of a person's primary home).

 

2.3           Income.  In determining individual “income,” Subscriber should add to Subscriber’s individual taxable adjusted gross income (exclusive of any spousal income) any amounts attributable to tax exempt income received, losses claimed as a limited partner in any limited partnership, deductions claimed for depletion, contributions to an IRA or Keogh retirement plan, alimony payments, and any amount by which income from long-term capital gains has been reduced in arriving at adjusted gross income.

 

2.4           Type of Subscriber.  Indicate the form of entity of Subscriber:

 

 §         Individual                                            ̈           Limited Partnership

 

 ̈         Corporation                                        ̈           General Partnership

 

 ̈         Revocable Trust

 

 ̈         Other Type of Trust (indicate type):                                                                                                

 

 ̈         Other (indicate form of organization): _____________________

 

(a)           If Subscriber is not an individual, indicate the approximate date Subscriber entity was formed:  _____________________.

(b)           If Subscriber is not an individual, initial the line below which correctly describes the application of the following statement to Subscriber’s situation:  Subscriber (i) was not organized or reorganized for the specific purpose of acquiring the Shares and (ii) has made investments prior to the date hereof, and each beneficial owner thereof has and will share in the investment in proportion to his or her ownership interest in Subscriber.

 

                   True

 

                   False

 

If the “False” box is checked, each person participating in the entity will be required to fill out a Subscription Agreement.

 

2.5           Other Representations and Warranties of Subscriber.  Subscriber hereby represents and warrants to the Company as follows:

 

(a)           The Shares are being acquired for Subscriber’s own account for investment, with no intention by Subscriber to distribute or sell any portion thereof within the meaning of the Securities Act, and will not be transferred by Subscriber in violation of the Securities Act or the then applicable rules or regulations thereunder.  No one other than Subscriber has any interest in or any right to acquire the Shares.  Subscriber understands and acknowledges that the Company will have no obligation to recognize the ownership, beneficial or otherwise, of the Shares by anyone but Subscriber.

 

  

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(b)           Subscriber’s financial condition is such that Subscriber is able to bear the risk of holding the Shares that Subscriber may acquire pursuant to this Agreement, for an indefinite period of time, and the risk of loss of Subscriber’s entire investment in the Company.

(c)           Subscriber has received, has read and understood and is familiar with this Subscription Agreement.

 

(d)           The Company has made available all additional information which Subscriber has requested in connection with the Company and its representatives and Subscriber has been afforded an opportunity to make further inquiries of the Company and its representatives and the opportunity to obtain any additional information (to the extent the Company has such information or could acquire it without unreasonable effort or expense) necessary to verify the accuracy of information furnished by the Company to Subscriber.

 

(e)           No representations or warranties have been made to Subscriber by the Company, or any representative of the Company, or any securities broker/dealer, other than as set forth in this Subscription Agreement.

 

(f)           Subscriber has investigated the acquisition of the Shares to the extent Subscriber deemed necessary or desirable and the Company has provided Subscriber with any reasonable assistance Subscriber has requested in connection therewith.

 

(g)           Subscriber, either personally, or together with his advisors (other than any securities broker/dealers who may receive compensation from the sale of any of the Shares), has such knowledge and experience in financial and business matters that Subscriber is capable of evaluating the merits and risks of purchasing the Shares and of making an informed investment decision with respect thereto.

 

(h)           Subscriber is aware that Subscriber’s rights to transfer the Shares are restricted by the Securities Act and applicable state securities laws, and Subscriber will not offer for sale, sell or otherwise transfer the Shares without registration under the Securities Act and qualification under the securities laws of all applicable states, unless such sale would be exempt therefrom.

 

(i)           Subscriber understands and agrees that the Shares it acquires have not been registered under the Securities Act or any state securities act in reliance on exemptions therefrom and that the Company has no obligation to register any of the Shares offered by the Company.

 

(j)           The Subscriber has had an opportunity to ask questions of, and receive answers from, representatives of the Company concerning the terms and conditions of this investment and all such questions have been answered to the full satisfaction of the undersigned. Subscriber understands that no person other than the Company has been authorized to make any representation and if made, such representation may not be relied on unless it is made in writing and signed by the Company. The Company has not, however, rendered any investment advice to the undersigned with respect to the suitability

 

(k)           Upon issuance, any certificate representing the Common Stock will be endorsed with a restrictive legend similar to the following:

 

THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO ANY EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER AND UNDER APPLICABLE STATE LAW, THE AVAILABILITY OF WHICH MUST BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY.

 

(l)           Subscriber also acknowledges and agrees to the following:

 

(i)           an investment in the Shares is speculative and involves a high degree of risk of loss of the entire investment in the Company;

 

(ii)           there is no assurance that a public market for the Shares will be available and that, as a result, Subscriber may not be able to liquidate Subscriber’s investment in the Shares should a need arise to do so;

 

  

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(iii)           the Company is subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  As a result, it files reports, including annual audited and interim unaudited financial statements and other information with the U.S. Securities and Exchange Commission (the “SEC”).  The SEC maintains an internet site that contains the Company’s annual (Form 10-K), quarterly (Form 10-Q) and current (Form 8-K) reports, proxy statements, information statements and other information at http://www.sec.gov; and

 

(iv) the information set forth in this Subscription Agreement is qualified in its entirety by the detailed information and financial statements appearing in the Company's reports filed with at the SEC in accordance with the Exchange Act.

 

(m)           Subscriber is not dependent for liquidity on any of the amounts Subscriber is investing in the Shares.

 

(n)           Subscriber’s address set forth below is his or her correct residence address.

 

(o)           Subscriber has full power and authority to make the representations referred to herein, to purchase the Shares and to execute and deliver this Subscription Agreement.

 

(p)           Subscriber understands that the foregoing representations and warranties are to be relied upon by the Company as a basis for the exemptions from registration and qualification of the sale of the Shares under the federal and state securities laws and for other purposes.

 

The foregoing representations and warranties are true and accurate as of the date hereof and shall survive such date.  If any of the above representations and warranties shall cease to be true and accurate prior to the acceptance of this Subscription Agreement, Subscriber shall give prompt notice of such fact to the Company by telegram, or facsimile or e-mail,  specifying which representations and warranties are not true and accurate and the reasons therefor.

3.           Indemnification.  Subscriber acknowledges that Subscriber understands the meaning and legal consequences of the representations and warranties made by Subscriber herein, and that the Company is relying on such representations and warranties in making the determination to accept or reject this Subscription Agreement.  Subscriber hereby agrees to indemnify and hold harmless the Company and each employee and agent thereof from and against any and all losses, damages or liabilities due to or arising out of a breach of any representation or warranty of Subscriber contained in this Subscription Agreement.

4.           Transferability.  Subscriber agrees not to transfer or assign this Subscription Agreement, or any interest herein, and further agrees that the assignment and transferability of the Shares acquired pursuant hereto shall be made only in accordance with applicable federal and state securities laws.

5.           Termination of Agreement; Return of Funds.  In the event that, for any reason, this Subscription Agreement is rejected in its entirety by the Company, this Subscription Agreement shall be null and void and of no further force and effect, and no party shall have any rights against any other party hereunder.  In the event that the Company rejects this Subscription Agreement, the Company shall promptly return or cause to be returned to Subscriber any money tendered hereunder without interest or deduction.

6.           Notices.  All notices or other communications given or made hereunder shall be in writing and shall be delivered or mailed by registered or certified mail, return receipt requested, postage prepaid, or delivered by, facsimile or e-mail to Subscriber at the address set forth below and to the Company at the address set forth on the first page of this Agreement, or at such other place as the Company may designate by written notice to Subscriber.

7.           Amendments.  Neither this Subscription Agreement nor any term hereof may be changed, waived, discharged or terminated except in a writing signed by Subscriber and the Company.

8.           Governing Law.  This Subscription Agreement and all amendments hereto shall be governed by and construed in accordance with the laws of the State of Florida.

9.           Headings.  The headings in this Subscription Agreement are for convenience of reference, and shall not by themselves determine the meaning of this Subscription Agreement or of any part hereof.

[remainder of page intentionally left blank]

  

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In witness whereof, the parties hereto have executed this Agreement as of the dates set forth below.

 

Dated:                      January 7, 2015.

 

	 	Signature(s): 	/s/ David Bernstein	 
	 	 	 	 
	 	 	                                                                       	 
	 	 	 	 
	 	Name (Please Print):	David Bernstein	 
	 	 	 	 
	 	Residence Address: 	                                                                       	 
	 	 	 	 
	 	 	                                                                       	 
	 	 	 	 
	 	Phone Number:  	(______) _______-_________________	 
	 	 	 	 
	 	Cellular Number:  	(______) _______-_________________	 
	 	 	 	 
	 	Social Security Number: 	                                                                       	 
	 	 	 	 
	 	Email address:	________________@_______________	 

 

 

	 	 
ACCEPTANCE

	 
	 	 	 
	 	 
WEEDHIRE INTERNATIONAL, INC.

	 
	 	 
a Delaware corporation

	 
	 	 	 	 
	
Date:           January 7, 2015  

	
By: 

	/s/ David Bernstein	 
	 	 	Name: David Bernstein	 
	 	 	Title: Chief Executive Officer	 
	 	 	 	 

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