Document:

NanoViricides,
      Inc.

    

    SCIENTIFIC
      ADVISORY BOARD AND CONSULTING AGREEMENT

    

     

    THIS
      SCIENTIFIC ADVISORY BOARD AND CONSULTING AGREEMENT (the “Agreement”), made this
      day of ("the Effective Date"), is entered into by Nanoviricide, Inc., a Florida
      corporation with its principal place of business at 135 Wood Street, West Haven,
      CT 06516 (the “Company”), and  (the “Consultant”).

    

    RECITALS

    

    The
      Company desires to retain distinguished physicians and scientists as members
      of
      the Company's Scientific Advisory Board (the "Board") to advise the Company
      with
      respect to new and existing compounds and products in research and development
      in the field of HIV, Hepatitis C and other viral diseases. The Company and
      Consultant desire to enter into this Agreement in order to set forth the basis
      on which Consultant will serve as a member of the Board and provide consulting
      services to the Company in relation thereto.

    

    AGREEMENT

    

    In
      consideration of the mutual covenants set forth below, the parties hereby agree
      as follows:

    

    1.   ENGAGEMENT
      OF
      SERVICES.

    

    (a)
      Consultant will provide ongoing advice to the Company with respect to research,
      development and marketing of anti-viral and anti-microbial products. Such
      services shall be performed as requested by the Company, at such places and
      times as shall be mutually agreeable to the Company and Consultant. It is
      anticipated that the Board will meet in person on four (4) occasions per year.
      In addition, Consultant shall be available to consult with the Company with
      respect to anti-viral and anti-microbial diseases opportunities, over the
      telephone and in person, as requested by the Company and at mutually agreeable
      times and locations. Services performed pursuant to this Agreement shall be
      performed at such times as shall not conflict with Consultant's obligations
      to
      Consultant's primary employer or other third parties for whom Consultant
      provides consulting services. Consultant shall have no minimum consulting
      obligation hereunder.

    

    (b)
      Consultant agrees to perform all services for the Company hereunder faithfully,
      diligently and to the best of Consultant's skill and ability.

    

    (c)
      Consultant represents that Consultant has the authority to enter into this
      Agreement and that Consultant's performance of the terms of this Agreement
      and
      service as a member of the Board and a consultant to the Company do not and
      will
      not breach any obligation or agreement of Consultant to Consultant's primary
      employer or any

    other
      third party.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (d)
      Consultant understands and acknowledges that the payments Consultant will
      receive pursuant to Section 2 below are intended solely to compensate Consultant
      for the services Consultant will provide hereunder. Such payments shall in
      no
      way influence Consultant's professional judgment in performing services
      hereunder or otherwise.

    

    2.   COMPENSATION.

    

       (a)
      It is
      anticipated that the Company shall hold approximately four(4)Scientific Advisory
      Board meetings per annum. The Consultant will be granted each quarter 10,000
      warrants to purchase the Company’s common stock at 120% of the Company’s closing
      stock quote on the day following the meeting. Should the Company not call a
      quarterly meeting, quarterly options will be granted on May 15, August 15,
      November 15, and February 15. The warrants have a four year expiry date.

     

    (b)
      The
      Company will reimburse Consultant for travel and other out-of-pocket expenses
      reasonably and properly incurred by Consultant in the course of performing
      services under this Agreement; provided, however, that Consultant provides
      the
      Company with appropriate receipts and other relevant documentation for all
      such
      costs as part of any request by Consultant for reimbursement. Notwithstanding
      the foregoing, Consultant shall obtain the prior

    written
      consent of the Company for any expenses that will exceed, in the aggregate,
      more
      than $500.

     

    3.     
      INDEPENDENT CONTRACTOR.

    

    It
      is
      understood and agreed that Consultant is an independent contractor and not
      an
      employee of the Company. Consultant has no authority to obligate the Company
      by
      contract or otherwise and shall in no way represent Consultant to be an employee
      or officer of the Company. Consultant will not be eligible for any employee
      benefits, nor will the Company make deductions from Consultant's fees for any
      taxes. Taxes shall be the sole responsibility of Consultant.

    

    4.  ADDITIONAL
      ACTIVITIES.

    

    (a)
      The
      Company acknowledges that Consultant has other employment and consulting
      obligations, and that these obligations may take priority over the obligations
      Consultant has to the Company by reason of this Agreement.

    

    (b)
      The
      Company's policy is that persons who serve as principal investigators for
      clinical trials sponsored by the Company may not hold stock or other equity
      interests in the Company. Consultant agrees that if in the future Consultant
      becomes a principal investigator or otherwise plays a significant role in any
      clinical trial sponsored by the Company, Consultant will comply with this
      policy.

     

    (c)
      In
      order to avoid conflicts concerning ownership of intellectual property,
      Consultant will not conduct work for the Company on the premises of Consultant's
      employer or with its facilities unless there is a written agreement covering
      such work between the Company and such institution.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.   PROPRIETARY
      INFORMATION.

    

    (a)
      During the course of Consultant's services hereunder, the Company may disclose,
      or Consultant may otherwise have access to, Proprietary Information of the
      Company. For purposes of this Agreement, "Proprietary Information" shall mean
      information relating to the Company's research and development programs and
      results, therapeutic candidates and products, clinical and preclinical data,
      Inventions (as defined in Section 7), trade secrets, business strategy, patent
      rights, licenses, product and marketing strategy and materials, market data,
      personnel, consultants, suppliers, manufacturers, licensors, licensees,
      partners, affiliates, customers, potential customers or others, or other matters
      related to and treated confidentially by the Company.

    

    (b)
      Proprietary Information subject to this Section 5 shall not include information
      that: (i) is or later becomes available to the public through no breach of
      this
      Agreement by Consultant; (ii) is obtained by Consultant from a third party
      who
      had the legal right to disclose the information to Consultant; (iii) is already
      in the possession of Consultant on the date this Agreement becomes effective
      and
      was not Proprietary Information or subject to other restrictions on disclosure
      as of that date as shown by written records predating the date it was obtained
      under this Agreement; or (iv) is required to be disclosed by law, government
      regulation, or court order, provided

    that
      Consultant gives the Company prompt notice of such disclosure requirement and
      assists the Company so as to enable the Company to seek limitations or
      exemptions from such disclosure requirement.

    

    (c)
      Consultant acknowledges that the protection of Proprietary Information is
      necessary to conduct the Company's business, and the Company is and shall at
      all
      times remain the sole owner of the Company's Proprietary
      Information.

    

    (d)
      During the term of this Agreement and for five (5) years thereafter, Consultant
      will keep in confidence and trust all Proprietary Information, and shall not
      use
      or disclose such Proprietary Information, except as such use may be required
      in
      performing services as a consultant to the Company.

    

    6.   NONDISCLOSURE
      OF
      THIRD-PARTY INFORMATION.

    

    Consultant
      understands that the Company has received and in the future will receive from
      third parties information that is confidential or proprietary ("Third-Party
      Information"), subject to a duty on the part of the Company to maintain the
      confidentiality of such information and to use it only for certain limited
      purposes. During the term of this Agreement and thereafter, Consultant will
      hold
      Third-Party Information which Consultant learns in connection with Consultant's
      services hereunder in the strictest confidence and will not disclose
      or use such Third-Party Information except as permitted by the agreement
      between the Company and such third party, unless expressly authorized to act
      otherwise by the Company.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    7.   RIGHTS
      TO INVENTIONS AND
      INTELLECTUAL PROPERTY.

    

    (a)
      In
      connection with Consultant's services hereunder, or by use of the resources
      of
      the Company, Consultant may produce, develop, create or invent Inventions and
      Intellectual Property (each as defined below) related to the business of the
      Company. Consultant shall

    maintain
      and furnish to the Company complete and current records of all such Inventions
      and Intellectual Property and disclose to the Company in writing any such
      Inventions and Intellectual Property. Consultant agrees that all such Inventions
      and Intellectual Property are and shall be the exclusive property of the
      Company, and that the Company may use or pursue them without restriction or
      additional compensation. Consultant: (i) hereby assigns, sets over and transfers
      to the Company all of Consultant's right, title and interest in and to such
      Inventions and Intellectual Property; (ii) agrees that Consultant and
      Consultant's agents shall, during and after the period Consultant is retained
      by

    the
      Company, cooperate fully in obtaining patent, trademark, service mark, copyright
      or other proprietary protection for such Inventions and Intellectual Property,
      all in the name of the Company (but only at Company expense), and, without
      limitation, shall execute all requested applications, assignments and other
      documents in furtherance of obtaining such protection or registration and
      confirming full ownership by the Company of such Inventions and Intellectual
      Property; and (iii) shall, upon termination or expiration of this Agreement,
      provide to the Company in writing a full, signed statement of all Inventions
      and

    Intellectual
      Property in which Consultant participated prior to such termination or
      expiration.

    

    (b)
      For
      purposes of this Agreement, "Intellectual Property" shall mean any Invention,
      writing, trade name, trademark, service mark or any other material registered
      or
      otherwise protected or protectible under state, federal, or foreign patent,
      trademark, copyright, or similar laws; and "Inventions" shall mean ideas,
      discoveries, inventions, developments and improvements, whether or

    not
      reduced to practice and whether or not patentable or otherwise within the
      definition of Intellectual Property.

    

    (c)
      Consultant acknowledges that the protection of Intellectual Property is
      necessary to conduct the Company's business, and the Company is and shall at
      all
      times remain the sole owner of the Company's Intellectual Property.

     

      8.  
TERM
      AND
      TERMINATION.

    

    (a)
      This
      Agreement shall commence on the Effective Date and be effective until 31st
      December 2007, unless the Agreement is extended beyond this term by prior
      written agreement of the parties; in the absence of which this Agreement and
      any
      obligations contained herein or understood between the parties in relation
      to
      membership on the Board and other advisory services shall forthwith
      lapse.

    

    (b)
      Either party can terminate this Agreement at any time upon sixty (60) days
      prior
      notice in which event this Agreement and any obligations

    contained
      herein or understood between the parties in relation to membership on the Board
      shall forthwith lapse and only those fees payable to the date of termination
      shall be payable by the Company.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (c)
      The
      parties shall mutually agree in writing with respect to any extension of the
      term hereof.

    

    9.      
      EFFECT OF TERMINATION.

    

    Upon
      the
      expiration or termination of this Agreement, each party shall be released from
      all obligations and liabilities to the other occurring or arising after the
      date
      of such expiration or termination, except
      that expiration or termination of this Agreement shall not relieve (i)
      Consultant of Consultant's obligations under Sections 5, 6 and 7 hereof; (ii)
      the Company of its obligations to reimburse Consultant for expenses under
      Section 2(b) hereof; or (iii) Consultant or the Company from any liability
      arising from any breach of this Agreement. Upon expiration or termination of
      this Agreement for any reason whatsoever, Consultant shall promptly surrender
      and
      deliver to the Company all documents and other materials pertaining to
      Consultant's work with the Company, and any documents or other materials
      (including reproductions thereof) containing any Proprietary
      Information.

    

    10.   
      ASSIGNMENT.

    

    The
      rights and liabilities of the parties hereto shall bind and inure to the benefit
      of their respective successors, heirs, executors and administrators, as the
      case
      may be; provided, however, that because the Company has specifically contracted
      for Consultant's services, Consultant may not assign or delegate Consultant's
      obligations under this Agreement, either in whole or in part, without the prior
      written consent of the Company.

    

    11.   
      LEGAL AND EQUITABLE REMEDIES.

    

    Since
      Consultant's services are personal and unique and since Consultant may have
      access to Proprietary Information, the Company shall have the right to enforce
      this Agreement and any of its provisions by injunction, specific performance
      or
      other equitable relief without prejudice to any other rights and remedies that
      the Company may have for a breach of this Agreement.

    

     

    12.   
      COMPLETE UNDERSTANDING; MODIFICATION.

    

    This
      Agreement constitutes the final, exclusive and complete understanding and
      agreement of the parties hereto and supersedes all prior understandings and
      agreements. Any waiver, modification or amendment of any provision of this
      Agreement shall be effective only if in writing and signed by the parties
      hereto.

     

    13.   
      NOTICES.

    

    (a)
      All
      notices, requests, consents and other communications hereunder shall be in
      writing, addressed to the receiving party's address as set forth below or to
      such other address as a party may designate by notice hereunder, and either
      (i)
      delivered by hand, (ii) sent by overnight courier, or (iii) sent by registered
      or certified mail, return receipt requested, postage prepaid.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b)
      All
      notices, requests, consents and other communications hereunder shall be deemed
      to have been given either (i) if by hand, at the time of the delivery thereof
      to
      the receiving party at the address of such party set forth above, (ii) if sent
      by overnight courier, on the next business day following the day such notice
      is
      delivered to the courier service, or (iii) if sent by registered or certified
      mail, on the third business day following the day such mailing is
      made.

     

    14.  
      COUNTERPARTS.

    

    This
      Agreement may be executed by the parties hereto on separate counterparts,
      each of which shall be deemed an original, but all of which together shall
      constitute one and the same instrument.

    

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

     

    
      	NanoViricides, Inc.	 CONSULTANT
	
              By:
                

              ------------------------------
                

              Eugene
                Seymour, MD     

            	 ---------------------------Unassociated Document

    NANOVIRICIDES,
      INC.

    

    INVESTOR SUBSCRIPTION
      AGREEMENT
      (the
      "Subscription Agreement") dated _______________, 2005 between NANOVIRICIDES,
      INC.,
      a
      publicly owned Nevada corporation with principal offices at 135 Wood Street,
      West Haven, Connecticut 06516 (the "Company") and the person or persons
      executing this Agreement on the last page (the "Subscriber"). All documents
      mentioned herein are incorporated by reference. 

    

    1.
      Description
      of the Offering.
      This
      Subscription Agreement is for Series A Convertible Debentures (the
“Debentures”). This Offering (the “Offering”) is made only to accredited
      investors who qualify as accredited investors pursuant to the suitability
      standards for investors described under Regulation D of the Securities Act
      and
      who have no need for liquidity in their investments. The Debentures are being
      offered at the minimum investment of $50,000. However, the Company reserves
      the
      right, in its sole discretion, to accept fractional subscriptions. Prior to
      this
      Offering there was no public market for the Debentures and no assurance can
      be
      given that a market will develop for the Debentures, or if developed, that
      it
      will be maintained so that any subscribers in this Offering may avail any
      benefit from the same. 

    

    THE
      SECURITIES OFFERED HEREBY ARE SPECULATIVE AND INVOLVE A HIGH DEGREE OF RISK
      AND
      SHOULD NOT BE PURCHASED BY ANYONE WHO CANNOT AFFORD THE LOSS OF THEIR ENTIRE
      INVESTMENT. THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT, OR THE SECURITIES LAWS OF ANY STATE, OR OTHER JURISDICTION
      AND
      ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. THESE SECURITIES MAY NOT
      BE
      TRANSFERRED, SOLD, PLEDGED, HYPOTHECATED OR ASSIGNED EXCEPT AS PERMITTED UNDER
      SUCH ACT OR SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION
      THEREFROM.

    

    2.
      Terms
      of the Offering. The
      Company is offering a maximum of forty (40) Debentures for a maximum offering
      of
      Two Million Dollars ($2,000,000). The Debentures (the form of which is attached
      hereto as Exhibit “A”) shall be repaid on the first anniversary of issuance (the
“Maturity Date”) and shall bear interest at the rate of nine percent (9%) per
      annum. Interest shall be paid quarterly to debentureholders (the “Holder” or
“Holders”) in a number of shares of the Company’s common stock, par value $.001
      per share (the “Common Stock”), equal to amount of interest owed upon the
      Debenture, divided by the average closing price of the common stock for the
      preceding fifteen (15) trading days prior to the close of the respective
      quarterly period. The principal balance of the Debentures may be repaid, at
      the
      option of the Holder, in cash or a number of shares of Common Stock equal to
      seventy percent (70%) of the average closing price of fifteen (15) trading
      days
      prior to the Maturity Date, not to exceed $.50 per share of Common Stock (the
      “Holders’ Conversion Price”). The Company will have the right, but not the
      obligation, to redeem the Debentures, if at the Maturity Date, the Holders’
Conversion Price is less than $0.25 (the “Redemption”). Any Debentures purchased
      by the Company pursuant to the Redemption shall be paid in immediately available
      funds with interest at the rate of fifteen percent (15%). If the Company
      registers any securities for public resale, the Holders who acquired the
      Debentures in the Offering will have the right to include any shares of Common
      Stock in the Offering in such registration.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    

    3.
      Other
      Terms of the Offering. 
      The
      execution of this Subscription Agreement shall constitute an offer by the
      Subscriber to subscribe for the Debentures in the amount and on the terms
      specified herein. The Subscriber must also complete and execute the Subscriber
      Questionnaire attached hereto. The Company reserves the right, in its sole
      discretion, to reject in whole or in part, any subscription offer. If the
      Subscriber's offer is accepted, the Company will execute a copy of this
      Subscription Agreement and return it to Subscriber. The Company, may at its
      sole
      discretion, accept fractional subscriptions. 

    

    4.
      Subscription
      Payment.
      Subscription for the Debentures requires a minimum total cash investment of
      $50,000. The subscription price will be payable in full upon acceptance of
      the
      subscription. The Company reserves the right to accept fractional subscriptions.
      

    

    5.
      The
      Company's Representations and Warranties.
      The
      Company hereby represents and warrants as follows: 

     

    (a)
      The
      Company warrants and covenants that there are no material misstatements or
      omissions in this Subscription Agreement or any information provided of the
      Offering documents herein. 

    

    (b)
      The
      Company is a corporation duly formed and in good standing under the laws of
      the
      State of Nevada with full power and authority to conduct its business as
      presently contemplated; and

     

    (c)
      The
      Company has the power to execute, deliver and perform this Subscription
      Agreement and any other agreement contemplated herein; 

    

    6.
      Subscriber's
      Representations, Warranties and Covenants.
      The
      undersigned understands and acknowledges that the Shares are being offered
      and
      sold under one or more of the exemptions from registration provided for in
      Section 3(b), 4(2) and 4(6) of the Securities Act of 1933, as amended (the
      “Act”) including, Regulation D promulgated thereunder, that the undersigned
      acknowledges that the Debentures are being purchased without the undersigned
      being offered or furnished any offering literature, prospectus or other
      material, financial or otherwise, and that this action has not been scrutinized
      by the United States Securities and Exchange Commission or by any regulatory
      authority charged with the administration of the securities laws of any state.
      The undersigned hereby further represents and warrants as follows:

    

    (a)
      The
      undersigned confirms that he understands and has fully considered, for purposes
      of this investment, the risks of an investment in the Debentures and understands
      that: (i) this investment is suitable only for an investor who is able to bear
      the economic consequences or losing his entire investment, (ii) the purchase
      of
      the Debentures is a speculative investment which involves a high degree of
      risk
      of loss by the undersigned of his entire investment, and (iii) that there will
      be no public market for the Debentures and accordingly, it may not be possible
      for him to liquidate his investment in the Debentures in case of an emergency;
      

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    

    (b)
      The
      Subscriber is an "Accredited Investor" as defined in Rule 501(a) of Regulation
      D
      under the Securities Act. This representation is based on the fact that the
      Subscriber, inter alia, is an accredited individual who, together with the
      Subscriber’s spouse, have a net worth of at least $1,000,000 or the Subscriber,
      individually, has had net income of not less than $200,000 during the last
      two
      years, and reasonably anticipates that the Subscriber will have an income of
      at
      least $200,000 during the present year and the next year;

    

    (c)
      If
      the Subscriber is a corporation, partnership, trust or any unincorporated
      association: (i) the person executing this Subscription Agreement does so with
      full right, power and authority to make this investment; (ii) that such entity
      was not formed for the specific purpose of making an investment in the Company;
      and (iii) that all further representations and warranties made herein are true
      and correct with respect to such corporation, partnership, trust and
      unincorporated association; 

     

    (d)
      The
      address set forth below is the Subscriber's true and correct residence or place
      of business, and the Subscriber has no present intention of becoming a resident
      of any other state or jurisdiction; 

    

    (e)
      The
      Subscriber understands and agrees that the Company prohibits the investment
      of
      funds by any persons or entities that are acting, directly or indirectly, (i)
      in
      contravention of any U.S. or international laws and regulations, including
      anti-money laundering regulations or conventions, (ii) on behalf of terrorists
      or terrorist organizations, including those persons or entities that are
      included on the List of Specially Designated Nationals and Blocked Persons
      maintained by the U.S. Treasury Department's Office of Foreign Assets
      Control(1) ("OFAC"), as such list may be amended from time to time,
      (iii) for a senior foreign political figure, any member of a senior foreign
      political figure’s immediate family or any close associate of a senior foreign
      political figure(2), unless the Company, after being specifically
      notified by the Subscriber in writing that it is such a person, conducts further
      due diligence, and determines that such investment shall be permitted, or (iv)
      for a foreign shell bank(3) (such persons or entities in (i) - (iv)
      are collectively referred to as "Prohibited Persons"). 

    

    (f) The
      Subscriber represents, warrants and covenants that: (i) it is not, nor is any
      person or entity controlling, controlled by or under common control with the
      Subscriber, a Prohibited Person, and (ii) to the extent the Subscriber has
      any
      beneficial owners(4), (a) it has carried out thorough due diligence
      to establish the identities of such beneficial owners, (b) based on such due
      diligence, the Subscriber reasonably believes that no such beneficial owners
      are
      Prohibited Persons, (c) it holds the evidence of such identities and status
      and
      will maintain all such evidence for at least five years from the date of the
      Subscriber's complete withdrawal from the Company, and (d) it will make
      available such information and any additional information requested by the
      Company that is required under applicable regulations. 

     

     

     

    
      
        

      

      (1) The
        OFAC
        list may be accessed on the web at http://www.treas.gov/ofac.

      (2) Senior
        foreign political figure means a senior official in the executive, legislative,
        administrative, military or judicial branches of a foreign government (whether
        elected or not), a senior official of a major foreign political party, or
        a
        senior executive of a foreign government-owned corporation. In addition,
        a
        senior foreign political figure includes any corporation, business or other
        entity that has been formed by, or for the benefit of, a senior foreign
        political figure. The immediate family of a senior foreign political figure
        typically includes the political figure’s parents, siblings, spouse, children
        and in-laws. A close associate of a senior foreign political figure is a
        person
        who is widely and publicly known internationally to maintain an unusually
        close
        relationship with the senior foreign political figure, and includes a person
        who
        is in a position to conduct substantial domestic and international financial
        transactions on behalf of the senior foreign political figure.

      (3) Foreign
        shell bank means a foreign bank without a physical presence in any country,
        but
        does not include a regulated affiliate. A post office box or electronic address
        would not be considered a physical presence. A regulated affiliate means
        a
        foreign shell bank that: (1) is an affiliate of a depository institution,
        credit
        union, or foreign bank that maintains a physical presence in the United States
        or a foreign country, as applicable; and (2) is subject to supervision by
        a
        banking authority in the country regulating such affiliated depository
        institution, credit union, or foreign bank.

      (4) Beneficial
        owners will include, but not be limited to: (i) shareholders of a corporation;
        (ii) partners of a partnership; (iii) members of a limited liability company;
        (iv) investors in a fund-of-funds; (v) the grantor of a revocable or grantor
        trust; (vi) the beneficiaries of an irrevocable trust; (vii) the individual
        who
        established an IRA; (viii) the participant in a self-directed pension plan;
        (ix)
        the sponsor of any other pension plan; and (x) any person being represented
        by
        the Subscriber in an agent, representative, intermediary, nominee or similar
        capacity. If the beneficial owner is itself an entity, the information and
        representations set forth herein must also be given with respect to its
        individual beneficial owners. If the Subscriber is a publicly-traded company,
        it
        need not conduct due diligence as to its beneficial owners.

    

    

    
      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

    

    

    

    (g) If
      any of
      the foregoing representations, warranties or covenants ceases to be true or
      if
      the Company no longer reasonably believes that it has satisfactory evidence
      as
      to their truth, notwithstanding any other agreement to the contrary, the Company
      may, in accordance with applicable regulations, freeze the Subscriber's
      investment, either by prohibiting additional investments, declining or
      suspending any withdrawal requests and/or segregating the assets constituting
      the investment, or the Subscriber's investment may immediately be involuntarily
      withdrawn by the Company, and the Company may also be required to report such
      action and to disclose the Subscriber's identity to OFAC or other authority.
      In
      the event that the Company is required to take any of the foregoing actions,
      the
      Subscriber understands and agrees that it shall have no claim against the
      Company, and its respective affiliates, directors, members, partners,
      shareholders, officers, employees and agents for any form of damages as a result
      of any of the aforementioned actions. 

    

    (h) The
      Subscriber agrees to indemnify and hold harmless the Company, its respective
      affiliates, directors, members, partners, shareholders, officers, employees
      and
      agents from and against any and all losses, liabilities, damages, penalties,
      costs, fees and expenses (including legal fees and disbursements) which may
      result, directly or indirectly, from any inaccuracy in or breach of any
      representation, warranty, covenant or agreement set forth in this Agreement.
      

    

    (i)
      The
      Subscriber has received and read or reviewed, is familiar with and fully
      understands the documents furnished by the Company. The Subscriber also fully
      understands this Subscription Agreement and the risks associated with this
      interest and confirms that all documents, records and books pertaining to the
      Subscriber’s investment in the Debentures and requested by the Subscriber have
      been made available or delivered to the Subscriber by the Company; 

    

    (j)
      The
      Subscriber has had an opportunity to ask questions of and receive answers from,
      the Company or a person or persons acting on its behalf, concerning the terms
      and conditions of this investment and confirms that all documents, records
      and
      books pertaining to the investment in the Debentures and requested by the
      Subscriber has been made available or delivered to the Subscriber;

    

    (k)
      The
      Subscriber will be acquiring the Debentures solely for the Subscriber's own
      account, for investment and not with a view toward the resale, distribution,
      subdivision or fractionalization thereof; and the Subscriber has no present
      plans to enter into any such contract, undertaking, agreement or
      arrangement;

    

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

    

    

    

    (l)
      The
      Subscriber acknowledges and understands that prior to this Offering there was
      no
      public market for the Debentures and no assurance can be given that a public
      market will develop for the Debentures offered hereby, or if developed, that
      it
      will be maintained so that any subscribers in this Offering may avail any
      benefit from the same;

    

    (m)
      The
      Subscriber's compliance with the terms and conditions of this Subscription
      Agreement will not conflict with any instrument or agreement pertaining to
      the
      Debentures or the transactions contemplated herein; and will not conflict in,
      result in a breach of, or constitute a default under any instrument to which
      the
      Subscriber is a party;

    

    (n)
      The
      Subscriber will seek its own legal, tax and investment advice concerning tax
      implications attendant upon the purchase of the Debentures and understands
      and
      accepts that the Company is relying upon this representation insofar as
      disclosure of tax matters is concerned; 

    

    (o)
      The
      Subscriber hereby acknowledges and represents that the Subscriber is aware
      of
      the information set forth in this document and in any exhibits attached hereto;
      and

    

    (p)
      The
      foregoing representations and warranties are true and accurate as of the date
      hereof and shall be true and accurate as of the date of delivery of the
      subscription to the Company and shall survive such delivery. If, in any respect,
      such representations and warranties shall not be true and accurate, the
      Subscriber shall give written notice of such fact to the Company, specifying
      which representations and warranties are not true and accurate and the reasons
      therefor. 

     

    7.
      Risk
      Factors. THE SUBSCRIBER ACKNOWLEDGES THAT THERE ARE SIGNIFICANT RISKS ASSOCIATED
      WITH THE PURCHASE OF THE DEBENTURES AND THAT SUCH SECURITIES ARE HIGHLY
      SPECULATIVE AND SHOULD NOT BE PURCHASED BY ANYONE WHO CANNOT AFFORD A TOTAL
      LOSS
      OF HIS OR HER ENTIRE INVESTMENT. The
      Subscriber represents and warrants that he or she has carefully considered
      and
      reviewed the following risks in reaching a determination to purchase a
      Debenture:

    

    It
      Is
      Difficult to Evaluate the Company’s Business and Prospects Because It Does Not
      Have Any Operating History 

    

    The
      Company has already commenced operations but has yet to generate any revenues
      from operations and is still in the development stage. The Company’s short
      existence, coupled with its inability to transition out of the development
      stage
      and lack of working capital, makes it difficult to evaluate the Company’s
      current business and prospects or to accurately predict its future revenue
      or
      results of operations. The Company’s revenue and income potential continue to be
      unproven, and its business model is evolving. Accordingly, the Company is
      subject to all of the risks, uncertainties, expenses and difficulties frequently
      encountered by companies seeking to break into a difficult-to-penetrate and
      rapidly changing industry segment.

    

    

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

    

    The
      Company May Never Earn a Profit

    

    As
      a
      company that has yet to commence operations with an unproven business model,
      the
      Company may continue to be unprofitable. The Company continues to experience
      losses and is economically and financially dependent upon the implementation
      of
      its business plan and the commencement of revenues from operations. The Company
      expects that its losses and negative cash flow to continue for the foreseeable
      future. The Company anticipates that its losses will increase significantly
      from
      current levels because it plans to significantly increase its expenditures
      for
      sales and marketing of its products and related services. With increased
      expenses, the Company will need to generate significant revenue to achieve
      profitability. Consequently, it is possible that the Company may never achieve
      profitability, and even if it does achieve profitability, it may not sustain
      or
      increase profitability on a quarterly or annual basis in the future. The
      inability to become profitable may result in the Company being required to
      file
      for protection under the federal bankruptcy laws.

    

    The
      Company is Undercapitalized, its Business Model is Unproven and it May Be Unable
      to Continue its Business

     

    If
      the
      Company is to survive, it will need to start generating revenue from operations
      within three months from the date of this Offering. The continued conduct of
      operations beyond three months will require the Company to raise additional
      capital. Since any such additional financing will probably be private and
      involve restricted (i.e., unregistered) securities, there can be little
      assurance that the Company will be successful is raising any additional capital.
      In addition, if the Company raises additional funds through the issuance of
      equity securities, its stockholders will likely experience dilution of their
      ownership interest, and the newly-issued securities may have rights superior
      to
      those of the shares held by present stockholders. If the Company raises
      additional funds by issuing debt, it may be subject to limitations on its
      operations, including limitations on the payment of dividends.

    

    The
      Company expects that its losses and negative cash flow to continue for the
      foreseeable future. The Company anticipates that its losses will increase
      significantly from current levels because it plans to significantly increase
      its
      expenditures for sales and marketing of its products. With increased expenses,
      the Company will need to generate significant revenue to achieve profitability.
      Consequently, it is possible that the Company may never achieve profitability,
      and even if it does achieve profitability, it may not sustain or increase
      profitability on a quarterly or annual basis in the future. The inability to
      become profitable may result in the Company being required to file for
      protection under the federal bankruptcy laws.

    

    The
      Company is Dependent Upon Its Executive Officers and Directors

    

    The
      Company’s success is dependent on the efforts and abilities of its officers and
      directors. The Company currently does not have employment agreements with its
      executive officers. Therefore, there can be no assurances that the Company
      will
      be able to retain its current officers and directors. The loss of the services
      of any of these individuals could materially and adversely affect the
      development of the Company’s business plan.

    

    The
      Company’s ability to attract and retain qualified technical, marketing and
      management personnel is critical to its operations. While management believes
      it
      will be able to attract and retain sufficient professional employees to meet
      its
      needs, there can be no assurance that management is correct. If Company is
      unable to employ the qualified employees needed, the Company may fail and may
      be
      required to file for protection under the federal bankruptcy laws.

    

    
      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

    

    

    

    The
      Company Has Never Paid Dividends on Common Stock

    

    The
      Company has never paid dividends on its Common Stock since its inception and
      does not intend to pay any dividends for the foreseeable future. No assurance
      can be given that the Company will pay dividends at any time. The Company
      presently intends to retain future earnings, if any, for financing its growth
      and expansion.

    

    The
      Company is Subject to the Uncertainty of Intellectual Property
      Rights

    

    The
      Company’s breach of an existing license or failure to obtain a license to
      technology required to commercialize its product candidates may have a material
      adverse effect on the Company's business, financial condition and results of
      operations. Litigation, which could result in substantial costs to the Company,
      may also be necessary to enforce any patents issued to the Company or to
      determine the scope and validity of third party proprietary rights. If
      competitors of the Company prepare and file patent applications in the United
      States that claim technology also claimed by the Company, the Company may have
      to participate in interference proceedings declared by the United States Patent
      and Trademark Office to determine priority of invention, which could result
      in
      substantial cost to the Company, even if the eventual outcome is favorable
      to
      the Company. An adverse outcome could subject the Company to significant
      liabilities to third parties and require the Company to cease using such
      technology. 

    

    There
      can
      be no assurance that current and potential competitors and other third parties
      have not filed or in the future will not file applications for, or have not
      received or in the future will not receive, patents or obtain additional
      proprietary rights relating to products or processes used or proposed to be
      used
      by the Company. Many non-United States jurisdictions allow oppositions by third
      parties to granted patents and/or issued patents. The Company may have to
      participate in opposition proceedings in non-United States jurisdictions to
      prevent a third party from obtaining a patent that may be adverse to the
      Company's interests. Also, the Company may have to defend against a third
      party's opposition to a patent granted and/or issued to the Company. There
      can
      be no assurance that the Company will be successful in an opposition proceeding,
      and participation in such a proceeding could result in substantial cost to
      the
      Company whether or not the eventual outcome is favorable to the Company.
      Moreover, there is certain subject matter which is patentable in the United
      States and not generally patentable outside of the United States and this may
      limit the protection the Company can obtain on some of its inventions outside
      of
      the United States. For example, the scope of protection for pharmaceutical
      inventions varies from country to country. These and/or other issues may prevent
      the Company from obtaining meaningful patent protection outside of the United
      States, which could have a material adverse effect on the Company's business,
      financial condition and results of operations.

    

    The
      Company’s Business is Both Highly Competitive and Subject to Rapid Technological
      Change

    

    The
      Company competes against a number of companies, many of which have longer
      operating histories, established markets and far greater financial, advertising,
      research and development, manufacturing, marketing, personnel and other
      resources than the Company currently has or may reasonably be expected to have
      in the foreseeable future. This competition may have an adverse effect on the
      ability of the Company to expand its operations or to operate profitably. The
      pharmaceutical industry in general, and the encrypted software segment in
      particular, is highly competitive and characterized by rapid technological
      change. The Company’s future performance will depend in large part upon its
      ability to become and remain competitive and to develop, manufacture and market
      acceptable products in these markets. Competitive pressures may necessitate
      price reductions, which can adversely affect any revenues and profits. If the
      Company is not competitive in its ongoing research and development efforts,
      its
      products and services may become obsolete, or be priced above competitive
      levels. Although management believes that, based upon their performance and
      price, the Company's services are attractive to customers, there can be no
      assurance that competitors will not introduce comparable or technologically
      superior products, which are priced more favorably than the Company's products
      and services.

    

    
      
        
           

        

        
          7

          
            

          

        

        
           

        

      

    

    

    

    

    Lack
      of Profitability

    

    The
      Company currently operates at a loss. No assurance can be given that the Company
      will achieve sufficient revenues for profitability. We believe that we will
      continue to incur operating and net losses for at least the foreseeable future.
      The rate at which we will incur losses is expected to increase from current
      levels for a period when we intend to increase our costs and expenses. Even
      if
      the Company attains profitability, there is no assurance that it can sustain
      or
      increase profitability on a quarterly or annual basis in the future. If revenues
      grow slower than anticipated, or if operating expenses exceed expectations
      or
      cannot be adjusted accordingly, the Company’s business, results of operations
      and financial condition will be materially and adversely affected. 

    

    Risks
      Associated with Technological Change

    

    The
      market in which the Company will compete is characterized by rapidly changing
      technology. Accordingly, the Company’s future success will depend on its ability
      to adapt to rapidly changing technologies, its ability to adapt its services
      to
      meet evolving industry standards and its ability to continually improve the
      performance, features and reliability of the Company’s products in response to
      both changing customer demands and competitive product and service offerings.
      The Company’s failure to successfully adapt to such changes in a timely manner
      could have a material adverse effect on the Company’s business, results of
      operations and financial condition.

     

    Government
      Regulation

    

    The
      Company’s operations are subject to national and international laws governing
      the Company’s products and services. The failure of the Company to achieve
      compliance with these regulations could have a material and adverse affect
      upon
      the Company’s operations.

    

    8.
      Responsibility.
      The
      Company or its officers and directors shall not be liable, responsible or
      accountable for damages or otherwise to any Subscriber for any act or omission
      performed or omitted by them in good faith and in a manner reasonably believed
      by them to be within the scope of the authority granted to them by this
      Subscription Agreement and in the best interests of the Company, provided they
      were not guilty of gross negligence, willful or wanton misconduct, fraud, bad
      faith or any other breach of fiduciary duty with respect to such acts or
      omissions. 

    

    9.
      Miscellaneous. 

    

    (a)
      The
      Company and the Subscriber hereby covenant that this Subscription Agreement
      is
      intended to and does contain and embody herein all of the understandings and
      agreements, both written or oral, of the Company and the Subscriber with respect
      to the subject matter of this Subscription Agreement, and that there exists
      no
      oral agreement or understanding, express or implied liability, whereby the
      absolute, final and unconditional character and nature of this Subscription
      Agreement shall be in any way invalidated, empowered or affected. There are
      no
      representations, warranties or covenants other than those set forth herein.
      

    

    
      
        
           

        

        
          8

          
            

          

        

        
           

        

      

    

    

    

    

    (b)
      The
      headings of this Subscription Agreement are for convenient reference only and
      they shall not limit or otherwise affect the interpretation or effect of any
      terms or provisions hereof. 

    

    (c)
      This
      Subscription Agreement shall not be changed or terminated except as set forth
      herein. All of the terms and provisions of this Subscription Agreement shall
      be
      binding upon and inure to the benefit of and be enforceable by and against
      the
      successors and assigns of the Company and the heirs, executors, administrators
      and assigns of the Subscriber. 

    

    (d)
      A
      modification or waiver of any of the provisions of this Subscription Agreement
      shall be effective only if made in writing and executed with the same formality
      as this Subscription Agreement. The failure of either the Company or the
      Subscriber to insist upon strict performance of any of the provisions of this
      Subscription Agreement shall not be construed as a waiver of any subsequent
      default of the same or similar nature, or of any other nature or kind.

    

    (e)
      The
      various provisions of this Subscription Agreement are severable from each other
      and from the other provisions of this Agreement, and in the event that any
      provision in this Subscription Agreement shall be held invalid or unenforceable
      by a court of competent jurisdiction, the remainder of this Subscription
      Agreement shall be fully effective, operative and enforceable. 

    

    (f)
      Pronouns used herein are to be interpreted as referring to both the masculine
      and feminine gender. 

    

    (g)
      This
      Subscription Agreement shall be construed and interpreted in accordance with
      the
      laws of the State of Nevada without reference to conflict of laws principle.
      The
      parties agree that in the event of a laws controversy arising out of the
      interpretation, construction, performance or breach of this Subscription
      Agreement, any and all claims arising out of, or relating to, this Subscription
      Agreement shall be submitted by arbitration according to the Commercial
      Arbitration Rules of the American Arbitration Association located in New York
      City before a single arbitrator. Notwithstanding the prior sentence, any other
      action commenced by either party herein shall be venued in the appropriate
      court
      of competent jurisdiction located in the county of New York, State of New York.
      

    

    (h)
      This
      Subscription Agreement may be executed in one or more counterparts each of
      which
      shall be deemed an original and all of which together shall be deemed to be
      one
      and the same instrument. 

    

    
      
        
           

        

        
          9

          
            

          

        

        
           

        

      

    

    

    

    

    THE
      SUBSCRIBER ACKNOWLEDGES THAT, EXCEPT AS SET FORTH IN THIS AGREEMENT, NO
      REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE TO IT, OR TO ITS ADVISORS, BY
      THE
      COMPANY, OR BY ANY PERSON ACTING ON BEHALF OF THE COMPANY, WITH RESPECT TO
      THE
      INTERESTS, THE PROPOSED BUSINESS OF THE COMPANY, THE DEDUCTIBILITY OF ANY ITEM
      FOR TAX PURPOSES, AND/OR THE ECONOMIC, TAX, OR ANY OTHER ASPECTS OR CONSEQUENCES
      OF A PURCHASE OF AN INTEREST AND/OR ANY INVESTMENT IN THE COMPANY, AND THAT
      IT
      HAS NOT RELIED UPON ANY INFORMATION CONCERNING THE OFFERING, WRITTEN OR ORAL,
      OTHER THAN THAT CONTAINED IN THIS SUBSCRIPTION AGREEMENT. 

    

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      rest of this page left intentionally left
      blank.------------------

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    The
      Subscriber hereby offers to purchase and subscribe to ____________ Debentures
      and encloses payment of $50,000 per Interest for an aggregate investment of
      $____________.

    

    SIGNATURE
      PAGE FOR
      INDIVIDUALS

    

    
      	 	
                

            
	 	
              Signature
                of Individual Subscriber

            
	 	 
	 	 
	 	
                

            
	 	
              Name
                of Individual Subscriber

            
	 	 
	 	 
	 	
                

            
	 	
              (Print)
                Street Address - Residence 

            
	 	 
	 	 
	 	
                

            
	 	
              (Print)
                City, State and Zip Code 

            
	 	 
	 	 
	 	
              Social
                Security Number:

            
	 	 
	 	
                

            

    

    

    AGREED
      TO AND ACCEPTED:

    

    As
      of
      ___________, 200_

    

    NANOVIRICIDES,
      INC.

    

    

    By:
      ________________________

    Anil
      Diwan, President

    

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      rest of this page left intentionally left
      blank.------------------

    

    

    
      
        
           

        

        
          11

          
            

          

        

        
           

        

      

    

    

    

    The
      Subscriber hereby offers to purchase and subscribe to _______________ Debentures
      and encloses payment of $50,000 per Interest for an aggregate investment of
      $____________.

    

    

    SIGNATURE
      PAGE  FOR
      PARTNERSHIPS

     

    
      	 	
                

            
	 	
              Name
                of Company

            
	 	 
	 	 
	 	
              By:
                  

            
	 	
              Signature
                of General Partner

            
	 	 
	 	
                

            
	 	
              Name
                and Title of Authorized

            
	 	
              Signatory
                (please print)

            
	 	 
	 	
                

            
	 	
              (Print)
                Business Address 

            
	 	 
	 	
                

            
	 	
              (Print)
                City, State and Zip Code 

            
	 	 
	 	 
	 	
              Tax
                Identification Number:

            
	 	 
	 	
                

            

    

    

    AGREED
      TO AND ACCEPTED:

    

    As
      of
      ___________, 200_

    

    NANOVIRICIDES,
      INC.

    

    

    By:
      ________________________

    Anil
      Diwan, President

    

    

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      rest of this page left intentionally left
      blank.------------------

    

    
      
        
           

        

        
          12

          
            

          

        

        
           

        

      

    

    

    

    The
      Subscriber hereby offers to purchase and subscribe to _______________ Debentures
      and encloses payment of $50,000 per Interest for an aggregate investment of
      $____________.

    

    SIGNATURE
      PAGE FOR
      CORPORATIONS

    

    

     

    
      	 	
                

            
	 	
              Name
                of Corporation

            
	 	 
	 	 
	 	
              By:  

            
	 	
              Signature
                of Executive Officer

            
	 	 
	 	 
	 	
                

            
	 	
              Name
                and Title of Authorized

            
	 	
              Signatory
                (please print)

            
	 	 
	 	
                

            
	 	
              (Print)
                Street Address 

            
	 	 
	 	
                

            
	 	
              (Print)
                City, State and Zip Code 

            
	 	 
	 	
                

            
	 	
              Tax
                Identification Number:

            
	 	 
	 	
               

            

    

    

    

    

    AGREED
      TO AND ACCEPTED:

    

    As
      of
      ___________, 200_

    

    

    NANOVIRICIDES,
      INC.

    

    

    By:
      ________________________

    Anil
      Diwan, President

    

    

    O:\NANOVIRICIDES,
      INC\Subscription Agreement 7-8-05.doc

    

    
      
        
           

        

        
          13

          
            

          

        

        
           

        

      

    

    

    

    COMPLETE
      “SUBSCRIBER QUESTIONNAIRE” BELOW;

    PROVIDE
      REQUISITE ADDITIONAL INFORMATION

    

    SUBSCRIBER
      QUESTIONNAIRE

    

    PERSONAL
      DATA.

    

    
      	 	 	 
	
              Full
                Name

            	 	
              Residence
                Telephone (Area Code Number)

            
	 	 	 
	 	 	
              Business
                Telephone (Area Code Number)

            
	 	 	 
	
              Residence
                or Principal Address (Street/City/State/Zip Code)

            	 	
              Birth
                Date

            
	 	 	 
	 	 	 
	
              Mailing
                Address (if other than residence)

            	 	
              Citizenship
                (U.S./Other)

            
	 	 	 
	 	 	 
	
              Marital
                Status

            	 	
              Social
                Security/Taxpayer I.D. Number

            
	 	 	 
	 	 	 
	
              Spouse’s
                Full Name

            	 	
              E-mail
                Address

            
	 	 	 
	 	 	 
	
              Spouse’s
                Social Security Number

            	 	
              Facsimile
                Number (Area Code/Number)

            

    

    

    ACCREDITED
      INVESTOR.
      If
      Subscriber (or the entity on behalf of which Subscriber is acting) is an
“accredited investor” as that term is defined in Rule 501(a) of Regulation D
      promulgated under the Act, and, as such, falls within at least one of the
      following categories, then please INITIAL each applicable
      category.

    

    
      	
              ______

            	
              (a)

            	
              A
                bank or savings and loan association or other institution (acting
                either
                in an individual or fiduciary capacity), registered broker-dealer,
                insurance company, registered investment company, or business development
                company, or licensed “small business investment company,” or an employee
                benefit plan which either is represented in a fiduciary capacity
                by a
                bank, savings and loan association, insurance company or registered
                investment advisor, has total assets in excess of $5,000,000 or is
                self-directed and the plan’s business investments are made solely by
                accredited investors.

            
	 	 	 
	
              ____

            	
              (b)

            	
              A
                trust (i) with total assets in excess of $5,000,000, (ii) which was
                not
                formed for the specific purpose of acquiring the subject securities,
                and
                (iii) whose purchase is directed by a person who has such knowledge
                and
                experience in financial and business matters as to be capable of
                evaluating the merits and risks of the prospective
                investment.

            
	 	 	 
	
              _____

            	
              (c)

            	
              An
                organization described in Section 501(c)(3) of the Internal Revenue
                Code,
                corporation or similar business trust, or partnership, not formed
                for the
                specific purpose of acquiring the subject securities, with total
                assets in
                excess of $5,000,000.

            
	 	 	 
	
              ______

            	
              (d)

            	
              An
                entity in which all of the equity owners are “accredited
                investors.”

            
	 	 	 
	
              ______

            	
              (e)

            	
              A
                director or an executive officer of the Company.

            
	 	 	 
	
              ______

            	
              (f)

            	
              A
                natural person whose individual net worth, or joint net worth with
                spouse
                (if any), exceeds $1,000,000

            
	 	 	 
	
              ______

            	
              (g)

            	
              A
                natural person whose income in each of the two most recent calendar
                years
                exceeded $200,000 individually, or $300,000 jointly with spouse (if
                any),
                and who reasonably expects to reach that income level in the current
                year.

            

    

    

    
      
        
           

        

        
          14

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