Document:

FORM
      OF SUBSCRIPTION AGREEMENT

    

    FIIC
      HOLDINGS, INC.

    SUBSCRIPTION
      AGREEMENT

    

    The
      undersigned hereby executes this Subscription Agreement (the “Subscription”) and
      applies to purchase the Convertible Promissory Note(s) (“Note(s)”) of FIIC
      HOLDINGS, INC., a Delaware Corporation (the “Company”), set forth on the last
      page hereof. The Loan amount of ___________ Thousand dollars ($___,000) is
      being
      made in connection with the certain Notes hereby subscribed, for and will be
      paid by delivering to the Company a check payable to “FIIC Holdings,
      Inc.”

    

    Accompanying
      this Subscription Agreement are: (i) the undersigned’s check in the amount of
      $___,000 as a loan subscribed and (ii) a completed Confidential Purchaser
      Questionnaire. The Company hereby agrees that such executed documents, and
      the
      subscription funds.

    

    The
      undersigned hereby represents and warrants to the Company as
      follows:

    

    
      	 	
              1.

            	
              The
                undersigned is an Accredited Investor within the meaning of Regulation
                D
                promulgated under the Securities Act of 1933, as amended (the "Securities
                Act").

            

    

    

    
      	 	
              2.

            	
              The
                undersigned has read and understands the “Risk Factors” attached to this
                Subscription Agreement, as well as the Risk Factors and Plan of Operation
                information in the Company’s 10-KSB dated April 11, 2006, and any document
                publicly filed by the Company with the Securities and Exchange Commission
                subsequent thereto and prior to the date
                hereof.

            

    

    

    
      	 	
              3.

            	
              The
                undersigned and the advisors of the undersigned have had ready access
                to,
                and an opportunity to review, any and all documents that the undersigned
                and/or the advisors of the undersigned deem relevant to this transaction
                and no requested information, oral or written, has been
                withheld.

            

    

    

    
      	 	
              4.

            	
              The
                undersigned is the sole party in interest as the
                subscriber.

            

    

    

    
      	 	
              5.

            	
              The
                undersigned is acquiring Note(s) for investment and without a view
                to
                resale in connection with any
                distribution.

            

    

    

    
      	 	
              6.

            	
              The
                undersigned is aware of the
                following:

            

    

     

    
      	(a)  	
              the
                Note(s) offered by the Company and the underlying shares have not
                been
                registered under the Securities Act in reliance upon the exemptions
                provided by Section 4(2) of the Securities Act and/or Regulation
                D
                promulgated under the Securities
                Act;

            

    

     

    	(b)  	
            the
              resale of any Note(s) or underlying shares without registration under
              the
              Securities Act or exemption there from is prohibited (reliance on any
              exemption from registration must be established to the Company's
              satisfaction in its sole and absolute
              discretion);

          

    

    	(c)  	
            this
              Subscription may be rejected in whole or in part by the Company in
              its
              sole and absolute discretion;

          

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    	(d)  	
            there
              will be no public market for the Note(s) offered by the Company and,
              accordingly, it may not be possible for the undersigned to liquidate
              an
              investment in the Company; and

          

    

    	(e)  	
            the
              Note(s) offered and subscribed for hereunder are offered to purchaser
              only
              as an investment and without a view to resale in connection with any
              distribution.

          

    

    
      	7.	
              The
                undersigned has either: (i) consulted with the undersigned's business,
                tax
                and legal advisors (purchaser representative) with respect to the
                documents and information relating to this transaction, and they
                have
                advised the undersigned as to the merits of the offering; or (ii)
                the
                undersigned has had sufficient experience in investments and business
                matters to recognize the advantages and disadvantages of an investment
                of
                this nature.

            

    

    

    
      	8.	
              If
                the undersigned is a corporation, partnership, plan or trust, then
                all
                action necessary to enter into and deliver this Subscription Agreement
                has
                been taken and the undersigned agrees that it will deliver a copy
                of the
                organization documents of the subscriber to the Company. In addition,
                the
                undersigned warrants that any such corporation, partnership, plan
                or trust
                was: (i) existing prior to receiving any offer hereunder; and (ii)
                was not
                formed or organized for the purpose of purchasing any of the
                Note(s).

            

    

    

    
      	9.	
              If
                the undersigned is an employee benefit plan within the meaning of
                ERISA:
                (i) the purchase of Note(s) by the undersigned is not a “prohibited
                transaction” within the meaning of ERISA, the Internal Revenue Code, or
                the regulations promulgated there under, respectively, and such purchase
                is a prudent investment within the meaning of ERISA; and (ii) the
                undersigned agrees to indemnify and hold harmless the Company, its
                agents,
                successors and assigns from and against any and all liability, loss,
                cost
                and expense (including attorneys’ fees) resulting from any adverse claim
                or determination by the Department of Labor or the Internal Revenue
                Service respecting the propriety, suitability or legality of the
                undersigned's investment in the
                Note(s).

            

    

    

    
      	10.	
              The
                information contained in the undersigned's Confidential Purchaser
                Questionnaire is true and complete.

            

    

    

    The
      undersigned recognizes that the offer and sale of the Note(s) to the undersigned
      are based upon the representations and warranties of the undersigned contained
      herein. The undersigned hereby indemnifies the Company, and anyone acting on
      behalf of the Company, with respect to the offer and sale of the Note(s)
      (including, but not limited to, the Company's attorneys), and agrees to hold
      each of such persons harmless against all liabilities, costs, or expenses
      (including attorneys’ fees and costs of collection) arising by reason of, or in
      connection with, any misrepresentation or any breach of such representations
      or
      warranties by the undersigned, or arising as a result of the sale or
      distribution of the Note(s) by the undersigned in violation of the Securities
      Act, applicable federal and state securities laws, ERISA, the Internal Revenue
      Code, and any other applicable law, or for failure to fulfill any of the
      undersigned's covenants or agreements set forth herein. Further, the undersigned
      hereby indemnifies the Company, and anyone acting on behalf of the Company,
      with
      respect to the offer and sale of the Note(s) (including, but not limited to,
      the
      Company's attorneys), and agrees to hold each of such persons harmless against
      all liabilities, costs or expenses (including attorney’s fees and costs of
      collection) incurred in connection with the successful defense by the Company,
      or any of such other persons, of any claim, action or cause of action of the
      undersigned.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    The
      undersigned hereby acknowledges and agrees that the undersigned is not entitled
      to cancel, terminate, or revoke this Subscription Agreement or any agreements
      of
      the undersigned hereunder and that such Subscription Agreement and agreements
      shall survive the death or disability of the undersigned or any assignment
      by
      the undersigned of any Note(s); provided,
      however,
      that if
      the Company has not accepted this Subscription on or before the termination
      of
      the offering, all agreements of the undersigned hereunder shall automatically
      be
      cancelled, revoked and terminated. This Subscription Agreement, its provisions
      and the representations and warranties contained herein shall be binding upon
      the heirs, legal representatives, successors and assigns of the
      undersigned.

     

    IN
      WITNESS WHEREOF, this Subscription has been executed at _________, ____________,
      on this       day of _____________,
      2006.

    

    Amount
      of
      Note(s) Subscribed For: _______________.

    

    

    
      	 	________________________________
	Name of subscriber(s) (type or
              print)	________________________________
	 	________________________________
	Signature of
              subscriber(s)	
              Type or print mailing address including, 

              street number, city, state and zip
                code

            
	
               

              By:______________________

            	
               

              ________________________________

            
	
              Name and Title of Authorized 

              Representative, if applicable

            	
              Type or print taxpayer identification 

              number of the
                subscriber

            

    

    

    ACCEPTED
      BY:

    

    FIIC
      HOLDINGS, INC.

    

    By:
      __________________________________

    

    Title:
      _________________________________

    

    Dated:
      ____________________, 2006 

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    FIIC
      HOLDINGS, INC.

    A
      Delaware Corporation

    (the
      "Company")

    

    CONFIDENTIAL
      PURCHASER QUESTIONNAIRE

    

    Name(s)
      of Purchaser(s): __________________________________________________________

     

                                                
      __________________________________________________________

    
 

    Address: 
________________________________________________________________

    

    ________________________________________________________________

    

    Telephone
      Number(s): ____________________________________________________________

    

    Marital
      Status: __________________________________________________________________

    

    Age(s): ________________________________________________________________________

    

    Taxpayer
      I.D. Number(s): ___________________________________________________________

    

    Employment
      Information:

    

    Occupation
      or Profession(s): _________________________________________________

    

    ________________________________________________________________________

    

    Nature
      of
      Business: ________________________________________________________

    

    ________________________________________________________________________

    

    Name
      and
      Address of Employer(s): _____________________________________________

    

    ________________________________________________________________________

    

    Office
      Telephone Number(s): __________________________________________________

    

    Current
      Position or Title: _____________________________________________________

    

    Nature
      of
      Duties: ___________________________________________________________

    

    Period
      Employed: ___________________________________________________________

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Investor
      Qualifications:

    

    Please
      complete Part A
      if you
      are individually purchasing Note(s) or Part B
      if you
      are signing on behalf of a corporation, partnership, plan, or
      trust.

    

    
      	
              A.

            	
              All
                investors who are natural
                persons
                must complete the following:

            

    

    

    I
      hereby
      represent, by marking the appropriate lines below, that:

    

    
      	 	
              ______

            	
              1.

            	
              I
                am an Accredited
                Investor
                within the meaning of Regulation D because I have had an individual
                income
                in excess of $200,000 or more in each of the two most recent years,
                or
                joint income with my spouse in excess of $300,000 in each of those
                years,
                and reasonably anticipate to reach the same income level in the current
                year.

            

    

    

    
      	 	
              ______

            	
              2.

            	
              I
                am an Accredited
                Investor
                within the meaning of Regulation D because I have an individual net
                worth,
                or a net worth with my spouse, of $1,000,000 or
                more.

            

    

    

    
      	
              B.

            	
              All
                persons signing on behalf of a purchaser that is an entity
                (i.e., corporation, partnership, plan, or trust) must complete the
                following:

            

    

    

    I
      hereby
      represent, by marking one or more of the following lines below, that the
      Purchaser is an Accredited
      Investor
      within
      the meaning of Regulation D because:

     

    
      
        	 	
                ______

              	
                1.

              	
                The
                  Purchaser is an organization described in Section 501(c)(3) of
                  the
                  Internal Revenue Code of 1986, as amended, or a corporation, Massachusetts
                  or similar business trust, or partnership, not formed for the specific
                  purpose of acquiring the Note(s), with total assets in excess of
                  $5,000,000.

              

      

      

         

        
          
            	 	
                    ______

                  	
                    2.

                  	
                    The
                      Purchaser is a trust, with total assets in excess of $5,000,000,
                      not
                      formed for the specific purpose of acquiring the Note(s), whose
                      purchase
                      is directed by a person who has such knowledge and experience
                      in financial
                      and business matters that such purchaser is capable of evaluating
                      the
                      merits and risks of the prospective
                      investment.

                  

          

          

             

            
              
                	 	
                        ______

                      	
                        3.

                      	
                        The
                          Purchaser is a corporation or partnership in which all
                          of the equity
                          owners are Accredited Investors within the meaning of Regulation
                          D.

                      

              

              

                 

                
                  
                    	 	
                            ______

                          	
                            4.

                          	
                            The
                              Purchaser is an employee benefit plan within the meaning
                              of Title I of
                              ERISA, and the decision to purchase the Note(s) has
                              been made by a plan
                              fiduciary which is a bank, savings and loan association,
                              insurance company
                              or registered investment advisor, or the plan has total
                              assets which
                              exceed $5,000,000, or if a self-directed plan, investment
                              decisions are
                              made solely by individuals who are Accredited
                              Investors.

                          

                  

                   

                  
                    
                       

                    

                    
                      2

                      
                        

                      

                    

                    
                       

                    

                  

                

              

            

          

        

      

    

    
      	
              Type
                of Ownership:

            	
              Indicate
                type of ownership you prefer, if other than individual (Natural Persons
                Only):

            

    

    

    
      	______	
              Joint
                Tenants with rights of survivorship (each must complete and sign
                this
                Questionnaire)

            

    

    

    
      	______	
              Tenants
                in Common (each must complete and sign this
                Questionnaire)

            

    

    

    Representations
      and Warranties:

    

    The
      undersigned understands that the Company will be relying on the accuracy and
      completeness of my responses to the foregoing questions and the undersigned
      represents and warrants to the Company, and its attorneys and agents, as
      follows:

    

    
      	 	
              1.

            	
              The
                answers to the above questions are complete and correct and may be
                relied
                upon by each of the foregoing for all purposes, including but not
                limited
                to, determining whether the offering is exempt from registration
                under the
                Securities Act of 1933, as amended, and applicable state securities
                laws.

            

    

    

    
      	 	
              2.

            	
              The
                undersigned will notify all of the foregoing immediately of any material
                change in any statement made herein that occurs prior to the closing
                of
                any purchase of securities in the proposed
                investment.

            

    

    

    

    _________________________________

    Signature(s)
      of Purchaser(s)

    

    

    

    _________________________________

    Please
      Print Name of Purchaser(s)

    

    

    

    Dated:
      ___________________, 2006

    

    
      
         

      

      
        3Unassociated Document

    FORM
      OF ESCROW AGREEMENT

    

    

    This
      ESCROW AGREEMENT is between _____________ (LENDER), FIIC Holding, Inc. (DEBTOR),
      and Wade Estep (ESCROW AGENT).

    

    Simultaneously
      with the making of this Agreement, Lender and Debtor have entered into a
      Convertible Promissory
      Note
      (the
Note)
      by
      which______________ will lend
      to
Debtor
      the loan amount:
      _______________ _______________ _______________

    

    The
      closing will take place on
      May
      1,
      2006, at
11:30
      a.m.,
      at the
      offices of FIIC
      Holding, Inc,
      located
      at 1585
      Bethel Road
      or at
      such other time and place as Lender and Debtor
      may jointly designate in writing. Pursuant to the Convertible
      Promissory Note, Lender must deposit $_______________ as Note Proceeds in a
      designated Huntington National Bank Escrow account to be held in escrow by
      Escrow Agent.

    

    The
      $_______________ Note proceeds referred to hereinabove has
      been
      loaned by the Lender to FIIC Holdings, Inc., Escrow Agent. Escrow Agent
      acknowledges receipt of $_______________ from Lender by check, and subject
      to
      collection of good funds.

    

    If
      the
      closing takes place under the Loan agreement terms, Escrow Agent at the time
      of
      closing shall pay the amount deposited with him to FIIC Holding, Inc., or in
      accordance with Lender's written instructions. Escrow Agent shall make
      simultaneous transfer of the said Loan proceeds to the Debtor.

    

    If
      the
      Midas PPM does not go active for any reason under the loan agreement terms
      within 30 days of the deposit, the Escrow Agent shall continue to hold the
      amount deposited until receipt of written authorization for its disposition
      signed by both Debtor and Lender. If there is no resolution to any dispute
      as to
      whom Escrow Agent is to deliver the amount deposited to within (7) seven
      business days, the Escrow Agent shall promptly return the deposited funds to
      the
      Lender without recourse or delay. 

    

    If
      Escrow
      Agent does not receive a proper written authorization from Lender and Debtor,
      as
      to the final disposition of the loan proceeds within (7) seven days or if no
      other written instructions is received by the Lender and Debtor, the Escrow
      Agent is under no obligation to bring an action or proceeding to deposit the
      sum
      held by the Escrow Agent in court, but may continue to hold the deposit until
      the (30) days closing time frame has expired. At this time the Escrow agent
      without further notice must return the loan proceeds to the Lender.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Escrow
      Agent assumes no liability except that of a Stockholder.
      Escrow Agent's duties are limited to those specifically
      set out in this Agreement. Escrow Agent shall incur no
      liability to anyone except for willful misconduct or gross negligence
      so long as the Escrow Agent acts in good faith. Lender and Debtor release Escrow
      Agent from any act done or omitted in good faith in the performance of Escrow
      Agent's duties.

    

    Whereof
      the parties set their hands and seal this 1st
      day
of
      May,
      2006.

    

    Signed
      in
      the presence of:

     

    
 

    
      	 	 	 
	
              Witness 

               

            	 	
              Lender

               

            
	
              Witness

               

            	 	
              Debtor

               

            
	Witness	 	Agent

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