Document:

polar103.htm

Exhibit 10.3

 

DOCUMENT ESCROW AGREEMENT

This Document Escrow Agreement (this “Agreement”), dated effective as of the 30th day of October, 2012, is made and entered into by and among:

(a) POLAR PETROLEUM (AK) CORP., an Alaska corporation (“Polar” or “Buyer”), whose address is 9360 Glacier Highway, Suite 202, Juneau, Alaska 99801;

(b)  SAMUEL H. CADE (“Cade”), whose address is 3410 Amberwood Lane, Prosper, Texas 75078, and  DANIEL K. DONKEL (“Donkel”), whose address is 3000 No. Atlantic Ave., 6th Floor, Daytona Beach, Florida 32118 (“Donkel” and, together with Cade, the “Sellers”): and

(c) ALLEN & VELLONE, P.C., whose address is 1600 Stout Street, Suite 1100, Denver, Colorado 80202 (the “Escrow Agent”).

All capitalized terms utilized in this Agreement, and not otherwise defined herein, shall have the respective meaning given to them in that certain Purchase Agreement dated effective as of October 30, 2012, between Sellers and the Buyer (the “Purchase Agreement”). The Buyer and the Sellers are sometimes collectively referred to herein as the “Parties” and individually as a “Party.”

W I T N E S S E T H:

WHEREAS, pursuant to the terms of the Purchase Agreement, the Sellers and the Buyer have agreed to the terms and conditions upon which the Sellers will sell, and the Buyer will purchase, 100% of the working interest in certain Alaska oil and gas leases described in the said Purchase Agreement (each a “Lease” and collectively, the “Leases”); and

WHEREAS, pursuant to the Purchase Agreement, the Sellers and the Buyer have agreed to establish an escrow by means of this Agreement for the delivery to the Escrow Agent of certain assignments as provided in Section 11(d) of the Purchase Agreement including four (4) Assignments in approved form whereby the Buyer shall re-assign and re-convey to the Sellers one hundred percent (100%) of the record title in and to State of Alaska Oil and Gas Leases ADL 390939, 391544 and 391545, sometimes collectively referred to as the “Conveyance Documents” to facilitate execution, delivery and disposition of such Conveyance Documents pursuant to the terms and conditions of the Purchase Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, Sellers, the Buyer and the Escrow Agent hereby agree as follows:

I.             Establishment of Document Escrow

1.01           Promptly after the Closing established under the terms of the Purchase Agreement, the Buyer agrees to deliver to the Escrow Agent the following documents:

(a)           Polar Leaseholder Assignment - four (4) originals of the Conveyance Documents as described in the Recital above, all of such Conveyance Documents being executed and acknowledged by Polar; and

(b)           Four (4) originals of any other form as reasonably required by Sellers in connection with the Purchase Agreement, executed and, if required, acknowledged by the Polar.

  

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1.02           Buyer shall deliver to the Escrow Agent at the Closing under the Purchase Agreement, the cash portion of the Purchase Price (as defined in the Purchase Agreement), being $150,000.00, via wire transfer of immediately available funds to the Escrow Agent for deposit to the escrow account. Funds deposited to the escrow account shall remain un-invested until disbursed per terms of this Agreement. The Parties hereto acknowledge that Section 11(a) of the Purchase Agreement contains the wire transfer instructions to the Escrow Agent’s escrow account.

 

1.03           The documents delivered pursuant to Section 1.01 are collectively referred to as the “Escrow Documents.” The Escrow Agent agrees to accept delivery of the Escrow Documents and the cash amount as set forth in Section 1.02 above. The Escrow Agent shall provide immediate written notice of its receipt of all Escrow Documents and the cash amount to the Buyer and the Sellers as follows:

To Buyer’s Representative:              Daniel Walker

Phone:  (775) 345-3522

Email:  to be provided

To Sellers’ Representative:              Daniel K. Donkel

Phone: (407) 375-8500

Email: donkeloil@gmail.com

II.   Administration of Escrow Documents

2.01           All Escrow Documents and monies delivered to the Escrow Agent pursuant to this Agreement shall be held by the Escrow Agent until released from escrow pursuant to the provisions of this Agreement.

2.02           Unless otherwise indicated in joint written instructions from Sellers and Buyer, the Escrow Agent shall do the following:

(a)           Subject to its receipt of the cash amount at Closing as set forth in Section 1.02 above, pay to the Sellers via check or, if authorized, via wire transfer of immediately available funds, the sum of $150,000.00. The Sellers’ proportionate share shall be in accordance with the following percentages: (a) Samuel H. Cade – $112,500.00 (75%) and Daniel K. Donkel – $37,500.00 (25%).

(b)           Subject to its receipt of the Escrow Documents as set forth in Section 1.02 above, hold the Escrow Documents until such time as said Escrow Documents, in accordance with the terms of Section 14(b) of the Purchase Agreement, are to be either (i) destroyed or disposed of, with written notice to Buyer of destruction, or (ii) delivered to Sellers for their delivery and filing of the subject Escrow Documents as provided under the terms of Section 14(b) of the Purchase Agreement.

           2.03                                           In the absence of receipt by the Escrow Agent by 4:00 p.m., Mountain Daylight Savings Time, on October 31, 2012, of the cash amount due at Closing as set forth in Section 1.02 above, the Escrow Agent shall, unless otherwise indicated in joint written instructions received from Sellers and Buyer, immediately advise both the Sellers and the Buyer that the said cash amount has not been received by the Escrow Agent.

III.   Responsibility of Escrow Agent

The acceptance by the Escrow Agent of its duties under this Agreement is subject to the following terms and conditions, which the Parties hereby agree shall govern and control with respect to its rights, duties, liabilities, and immunities:

3.01           The Escrow Agent, to the extent of acting in such capacity, shall not be responsible or liable in any manner whatsoever for the sufficiency, correctness, genuineness, or validity of any written notification or document delivered to it.

  

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3.02           The Escrow Agent shall not be liable for any error of judgment or for any act done or step taken or omitted by it in good faith, or for any mistake of fact or law, or for anything which it might do or refrain from doing, in each case,  in connection with the fulfillment of its obligations under this Agreement, even if any such judgment, action, mistake, or omission constitutes or is caused by negligence on the part of the  Escrow Agent, except such as constitute gross negligence, willful misconduct or a breach of this Agreement.

3.03           The Escrow Agent shall have no duties except those which are expressly set forth herein, and it shall not be bound by any notice of a claim or demand with respect thereto, or any waiver, modification, amendment, or termination of this Agreement unless in writing received by it.

3.04           The Escrow Agent may resign for any reason, upon fifteen (15) days written notice to the Parties.  Upon expiration of such fifteen (15) day notice period, the Escrow Agent may deliver all Escrow Documents and other property in its possession under this Agreement to any successor appointed jointly by the Parties, or if no successor has been so appointed, to any court of competent jurisdiction in Denver County, State of Coloardo.  Upon either such delivery, the Escrow Agent shall be released from any and all liability under this Agreement.  A resignation under this Section 3.04 shall in no way discharge the Parties from their respective obligations assumed under this Agreement for reimbursement of expenses, indemnity, and costs, as the case may be.

IV.   Indemnification of  Escrow Agent

4.01           EACH OF THE PARTIES AGREES TO INDEMNIFY THE  ESCROW AGENT AND HOLD THE ESCROW AGENT HARMLESS FROM AND AGAINST ALL COSTS, DAMAGES, JUDGMENTS, ATTORNEYS' FEES, EXPENSES, OBLIGATIONS, AND LIABILITIES OF ANY KIND OR NATURE WHICH, IN GOOD FAITH, IT MAY INCUR OR SUSTAIN ARISING OUT OF THE PERFORMANCE OF ITS OBLIGATIONS UNDER THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY OF THE FOREGOING ARISING, IN WHOLE OR IN PART, FROM NEGLIGENCE ON THE PART OF THE  ESCROW AGENT (EXCEPT SUCH AS CONSTITUTE GROSS NEGLIGENCE, WILLFUL MISCONDUCT OR A BREACH OF THIS AGREEMENT). THE LIABILITY OF THE PARTIES UNDER THIS INDEMNIFICATION SHALL BE JOINT AND SEVERAL.

4.02           If any controversy arises among the Parties hereto or with any other person, with respect to the subject matter of this Agreement, its terms, or conditions, the Escrow Agent shall not be required to determine the same or take action thereupon, but may await the settlement of any such controversy by final appropriate legal proceedings or otherwise as it may require. The Escrow Agent shall have the right to institute a bill of interpleader in any court of competent jurisdiction to determine the rights of the parties.

4.03           For purposes of all provisions hereof relating to the Escrow Agent, the Parties hereby submit to the jurisdiction of any local, state, or federal court located in the City and County of Denver, Colorado, and waive any right they may have to transfer or change the jurisdiction or venue of any litigation brought against any of them by the Escrow Agent.

V.   General Provisions

5.01           As payment of its services as escrow agent under this Agreement, the Parties shall pay $500.00 as compensation for Escrow Agent’s services performed under this Agreement as well as reimburse the Escrow Agent for its reasonable costs and expenses incurred in connection with the performance by it of service under this Escrow Agreement (including reasonable fees and expenses of Escrow Agent's counsel). The Escrow Fee shall be paid 50% by the Sellers and 50% by the Buyer. The Escrow Agent will submit statements for its fees, charges and other out-of-pocket expenses incurred in connection with this Agreement.

5.02           All notices, claims, demands, or other communications which may be or are required to be given hereunder shall be in writing and shall be deemed to have been duly and properly given if personally delivered or mailed by registered or certified mail to the Parties or the Escrow Agent, as the case may be, at the addresses provided in the first paragraph of this Agreement.  Any Party or the Escrow Agent may, by proper written notice to the others, change its address for purposes hereof.

  

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5.03           This Agreement shall terminate upon the earlier of (a) written notice by Escrow Agent as provided for in Section 2.03 above, or (b) the final distribution or destruction by the Escrow Agent of the Escrow Documents and any funds deposited into the escrow account as provided for in Section 2.02 above; provided, however, all indemnifications in favor of the Escrow Agent shall survive any such termination.

5.04           This Agreement shall be binding upon and inure to the benefit of the Parties and the Escrow Agent, and their respective legal representatives, successors, and assigns.

5.05           THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT ENTERED INTO UNDER, AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF COLORADO.

5.06           Neither this Agreement nor any provision hereof may be changed, waived, discharged, or terminated orally, but only by an instrument in writing signed by the Party against whom enforcement of the change, waiver, discharge, or termination is sought.

5.07           This Agreement, for convenience only, has been divided into Articles and Sections and it is understood that the rights, powers, privileges, duties, and other legal relations of the Parties hereto shall be determined from this instrument as an entirety and without regard to the aforesaid division into Articles and Sections.

5.08           This Agreement constitutes the entire agreement of the Parties hereto with respect to the subject hereof and shall supersede any prior agreement among such Parties, whether written or oral, relating to the subject hereof.  As between Buyer and Sellers, this Agreement does not modify, alter, or amend the Purchase Agreement and if any conflict or inconsistency exists between such Purchase Agreement and this Agreement, then such Purchase Agreement shall control as between the parties thereto.

5.09           Except as expressly provided herein, this Agreement is not intended to create, nor shall it be construed to create, any rights in any third party under doctrines concerning third-party beneficiaries.

5.10 If any action or proceeding is necessary to enforce any of the terms, provisions or conditions of this Agreement, including any claim or demand, or to interpret this Agreement, the prevailing Party shall be awarded and shall recover its reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which it may otherwise be entitled, whether or not such action or proceeding is prosecuted to judgment.

5.11           For the sake of simplicity in execution, this Agreement may be executed by original or telefax signature in any number of counterparts, each of which shall be deemed an original hereof.  All counterparts of this Agreement which are executed by telefax signature shall be valid and binding as original signatures for all purposes (evidentiary or otherwise).

[Signatures are on the following page]

 

  

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IN WITNESS WHEREOF, this Agreement is executed and effective as of the date first hereinabove written.

 

	 	BUYER: 
 

POLAR PETROLEUM (AK) CORP.

	 
	 	 	 	 
	 	By:	/s/ Daniel Walker	 
	 	Printed Name:	Daniel Walker	 
	 	Title:	President	 
	 	 	 	 

 

 

	 	SELLERS:

	 
	 	 /s/ Samuel H. Cade	 
	 	Samuel H. Cade	 
	 	 	 
	 	 /s/ Daniel K. Donkel	 
	 	Daniel K. Donkel	 

 

 

 

	 	 
ESCROW AGENT:

 

ALLEN & VELLONE, P.C.

	 
	 	 	 	 
	 	By:	/s/ Patrick J. Russell	 
	 	 	Patrick J. Russell	 
	 	 	 	 

 

 

 

5polar105.htm

Exhibit 10.5

 

REGULATION S

SUBSCRIPTION AGREEMENT

Polar Petroleum Corp.

2248 Meridian Boulevard, Suite H

Minden, Nevada 89423

Gentlemen:

1. Subscription. On the terms and subject to the conditions of this Subscription Agreement (“Subscription Agreement”), the undersigned investor (“Investor”) hereby subscribes for the number of shares of $.001 par value common stock (“Shares”) of Polar Petroleum Corp., a Nevada corporation (“Company”), specified below for a price of $0.10 per Share.

The offering will only be made to non-U.S. persons and to U.S. persons whom the Company believes are “accredited investors”, as that term is defined in Rule 501 of Regulation D, and who have the qualifications necessary to permit the Shares to be offered and sold in reliance upon an exemption from the registration and prospectus delivery requirements of the Securities Act of 1933 for transactions not involving any public offering.  All non-U.S. persons must subscribe pursuant to this Subscription Agreement.  All U.S. persons must subscribe pursuant to the Rule 506 Subscription Agreement.

The Investor shall deliver to the Company:  (1) an executed copy of this Subscription Agreement and (2) a wire transfer in immediately available U.S. funds for the full amount of the purchase price of the Shares for which the Investor is subscribing plus all wire transfer fees.

2.           Representations and Warranties.  In order to induce the Company to accept this subscription, the Investor hereby represents and warrants to, and covenants with, the Company as follows:

(a)           The Investor has received and carefully reviewed such information and documentation relating to the Company that the Investor has requested, including without limitation, (i) the Company’s filings with the U.S. Securities and Exchange Commission, and (ii) the information describing certain oil and gas assets located in the State of Alaska which the Company intends to acquire. Investor acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire the Shares, including, but not limited to, the Company’s proposed business, operations, properties, and financial condition. The Investor understands that where information furnished to the Investor contains numerical illustrations or discussions of anticipated results, projections, or statements containing, without limitation, the words “believes,” “anticipates,” “intends,” “expects,” “projects,” “estimates,” or words of similar import or effect, these are “projections.”  Projections involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from the results, performance, or achievements expressed or implied by such projections.  Such factors include, among others, the following: (i) general economic conditions affecting the Company’s proposed business, (ii) the ability of the Company to raise the additional capital required to perform the business plan, (iii) competitive factors in the market(s) in which the Company intends to operate; (iv) risks associated with oil and gas operations inside and outside the United States, and (v) challenges to the Company’s rights to any oil and gas interests that it may acquire. Given these uncertainties, the Investor acknowledges and understands that the Investor must not place undue reliance on such projections, but must make its own determination as to the likelihood of success of the Company.

(b)           The Investor has had a reasonable opportunity to ask questions of and receive answers from the Company and its management concerning the Company and terms and conditions of his or her proposed investment in the Company, and all such questions, if any, have been answered to the full satisfaction of the Investor;

(c)           The Investor is an investor in securities of companies in the development stage and acknowledges that it can bear the economic risk of its investment, is able to afford a complete loss of such investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Shares;

  

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(d)           The Investor understands that the Company has determined that the exemption from the registration provisions of the Securities Act of 1933, as amended (the “Securities Act”), provided by Regulation S with respect to non U.S. purchasers is applicable to the offer and sale of the Shares, based, in part, upon the representations, warranties and agreements made by the Investor herein;

(e)           Except as set forth herein, no representations or warranties have been made to the Investor by the Company or any agent, employee or affiliate of the Company and in entering into this transaction the Investor is not relying upon any information, other than the results of independent investigation by the Investor;

(f)           The Investor acknowledges that it has been called to his or her attention by those persons with whom the Investor has dealt in connection with his or her proposed investment in the Company, that the Company has a limited operating history with no revenues and the Company may never have any significant revenues or earnings, and that the Investor’s proposed investment in the Company involves significant risks which may result in the loss of that investment, or a portion thereof;

(g)           The Investor has full power and authority to execute and deliver this Subscription Agreement and to perform the obligations of the Investor hereunder and this Subscription Agreement is a legally binding obligation of the Investor in accordance with its terms; and

(h)           Regulation S.

(i)           The Investor understands and acknowledges that (A) the Shares acquired pursuant to this Subscription Agreement have not been registered under the Securities Act and are being sold in reliance upon an exemption from registration afforded by Regulation S; and that such Shares have not been registered with any state securities commission or authority; (B)  pursuant to the requirements of Regulation S, the Shares may not be transferred, sold or otherwise exchanged unless in compliance with the provisions of Regulation S and/or pursuant to registration under the Securities Act, or pursuant to an available exemption thereunder; and (C) other than as set forth in this Subscription Agreement between the Company and the Investor, the Company is under no obligation to register the Shares under the Securities Act or any state securities law, or to take any action to make any exemption from any such registration provisions available.

(ii)           (A) The Investor is not a U.S. person and is not acquiring the Shares for the account of any U.S. person; (B) if a corporation, it is not organized or incorporated under the laws of the United States; (C) if a corporation, no director or executive officer is a national or citizen of the United States; and (D) it is not otherwise deemed to be a “U.S. Person” within the meaning of Regulation S.

(iii)           The Investor, if not an individual, was not formed specifically for the purpose of acquiring the Shares purchased pursuant to this Subscription Agreement.

(iv)           The Investor is purchasing the Shares for its own account and risk and not for the account or benefit of a U.S. Person as defined in Regulation S and no other person has any interest in or participation in the Shares or any right, option, security interest, pledge or other interest in or to the Shares. The Investor understands, acknowledges and agrees that it must bear the economic risk of its investment in the Shares for an indefinite period of time and that prior to any such offer or sale, the Company may require, as a condition to effecting a transfer of the Shares, an opinion of counsel, acceptable to the Company, as to the registration or exemption therefrom under the Securities Act and any state securities acts, if applicable.

(v)           The Investor will, after the expiration of the restricted period, as set forth under Rule 903 of Regulation S, offer, sell, pledge or otherwise transfer the Shares only in accordance with Regulation S, or pursuant to an available exemption under the Securities Act and, in any case, in accordance with applicable state securities laws.  The transactions contemplated by this Subscription Agreement have neither been pre-arranged with a purchaser who is in the United States or who is a U.S. Person, nor are they part of a plan or scheme to evade the registration provisions of the United States federal securities laws.

  

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(vi)           The offer leading to the sale evidenced hereby was made in an “offshore transaction.”  For purposes of Regulation S, the Investor understands that an “offshore transaction” as defined under Regulation S is any offer or sale not made to a person in the United States and either (A) at the time the buy order is originated, the purchaser is outside the United States, or the seller or any person acting on his behalf reasonably believes that the purchaser is outside the United States; or (B) for purposes of (1) Rule 903 of Regulation S, the transaction is executed in, or on or through a physical trading floor of an established foreign exchange that is located outside the United States or (2) Rule 904 of Regulation S, the transaction is executed in, on or through the facilities of a designated offshore securities market, and neither the seller nor any person acting on its behalf knows that the transaction has been prearranged with a buyer in the United States.

 

(vii)           Neither the Investor nor any affiliate of the Investor or any person acting on its behalf, has made or is aware of any “directed selling efforts” in the United States, which is defined in Regulation S to be any activity undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for any of the Shares being purchased hereby.

(viii)           The Investor understands that the Company is the seller of the Shares which are the subject of this Subscription Agreement, and that, for purpose of Regulation S, a “distributor” is any underwriter, dealer or other person who participates, pursuant to a contractual arrangement, in the distribution of securities offered or sold in reliance on Regulation S and that an “affiliate” is any partner, officer, director or any person directly or indirectly controlling, controlled by or under common control with any person in question.  The Investor agrees that it will not, during the restricted period set forth under Rule 903 of Regulation S, act as a distributor, either directly or through any affiliate, nor shall it sell, transfer, hypothecate or otherwise convey the Shares other than to a non-U.S. Person.

(ix)           The Investor acknowledges that the Shares will bear a legend in substantially the following form:

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN OFFERED AND SOLD IN AN “OFFSHORE TRANSACTION” IN RELIANCE UPON REGULATION S AS PROMULGATED BY THE SECURITIES AND EXCHANGE COMMISSION. ACCORDINGLY, THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) AND MAY NOT BE TRANSFERRED OTHER THAN IN ACCORDANCE WITH REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRA­TION UNDER THE SECURITIES ACT, THE AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY.  THE SECURITIES REPRESENTED BY THIS CERTIFICATE CANNOT BE THE SUBJECT OF HEDGING TRANSACTIONS UNLESS SUCH TRANSACTIONS ARE CONDUCTED IN COMPLIANCE WITH THE SECURITIES ACT.

3. The Investor acknowledges and agrees that the Company has no obligation to assist the Investor in obtaining any exemption from any registration requirements imposed by applicable law. The Investor also acknowledges and agrees that he or she shall be responsible for compliance with all conditions on transfer imposed by a securities administrator or similar person of any state, province or territory.

4. The Investor understands that the Company is currently an issuer described in paragraph (i)(1)(i) of Rule 144 under the Securities Act and is subject to the provisions of Rule 144(i).

5. The Investor understands that this subscription is not binding upon the Company until the Company accepts it, which acceptance is at the sole discretion of the Company and is to be evidenced by the Company’s execution of this Subscription Agreement where indicated.  This Subscription Agreement shall be null and void if the Company does not accept it as aforesaid.  The Investor further understands that all the offering proceeds will be placed directly in the Company’s bank account.  In the event the Company does not accept the offering proceeds, the offering will not be completed and all offering proceeds will thereafter be promptly returned to investors without interest or deduction. Proceeds from the Offering will be used to pay for the costs of the Offering and for working capital.  The Investor further acknowledges and agrees that the Company and its management have absolute discretion to adjust the application and allocation of proceeds of the Offering in order to adjust and respond to various circumstances and opportunities.

6. The Investor understands that the Company may, in its sole discretion, reject this subscription, in whole or in part, and/or reduce this subscription in any amount and to any extent, whether or not pro rata reductions are made of any other investor’s subscription.

  

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7. The Investor agrees to indemnify the Company and hold it harmless from and against any and all losses, damages, liabilities, costs and expenses which it may sustain or incur in connection with the breach by the Investor of any representation, warranty or covenant made by the Investor.

8. Neither this Subscription Agreement nor any of the rights of the Investor hereunder may be transferred or assigned by the Investor.

9. Except as otherwise provided herein, this Subscription Agreement (i) may only be modified by a written instrument executed by the Investor and the Company; (ii) sets forth the entire agreement of the Investor and the Company with respect to the subject matter hereof; (iii) shall be governed by the laws of the State of Nevada applicable to contracts made and to be wholly performed therein; and (iv) shall inure to the benefit of, and be binding upon the Company and the Investor and their respective heirs, legal representatives, successors and permitted assigns.

10. Unless the context otherwise requires, all personal pronouns used in this Subscription Agreement, whether in the masculine, feminine or neuter gender, shall include all other genders.

11. All notices or other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered personally or mailed by certified or registered mail, return receipt requested, postage prepaid, as follows:  if to the Investor, to the address set forth on the signature page hereto; and if to the Company, to 2248 Meridian Boulevard, Suite H, Minden, NV 89423, Attention: President or to such other address as the Company or the Investor shall have designated to the other by like notice.

[Remainder of This Page Intentionally Left Blank]

  

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SIGNATURE PAGE

IN WITNESS WHEREOF, the Investor has executed this Subscription Agreement this __ day of November 2012.

Number of Shares Subscribed for:   ___________

Subscription Amount: ______________(number of Shares Subscribed for multiplied by $0.10)

 

	
 Organization Signature: 

 

	 	
 Individual Signature:

 

	 
	 Name: ______________________  	 	 	 
	 	 	Signature	 
	 	 	 	 
	 By: ____________________________ 	 	 	 
	 Name:	 	Print Name	 
	 Title:	 	 	 
	 	 	 	 
	 	 	Additional Signature of Joint Owner	 
	 	 	 	 
	 	 	 	 
	 	 	Print Name	 

 

(All Subscribers should please print information below exactly

as you wish it to appear in the records of the Company)

	
 

	 	
 

	 
	 	 	 	 
	 Name:	 	

Taxpayer/Corporate I.D. Number

	 
	 	 	 	 
	 Address:	 	Address for notices if different:	 
	 	 	 	 
	 	 	 	 
	 Number and Street  	 	Number and Street	 
	 	 	 	 
	 	 	 	 
	 City                                 Country   Postal Code 	 	City                                    Country   Postal Code	 
	 	 	 	 

 

Please check the box to indicate form of ownership (if applicable):

	
 

tenants-in-common ÿ

(Both Parties must sign above)

	
 

joint tenants with right of survivorship ÿ

(Both Parties must sign above)

	
 

community property ÿ

(Both Parties must sign above)

  

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ACCEPTANCE OF SUBSCRIPTION

 

The foregoing subscription is hereby accepted by Polar Petroleum Corp. this __ day of November 2012.

 

	  	
Polar Petroleum Corp.

	  
	  	  	  	  
	 	
By:

	 	  
	  	Name:	
Daniel Walker

	  
	 	Title:	President	 

 

 

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