Document:

SUBSCRIPTION AGREEMENT

  

Eastern Resources Corporation

166 East 34th Street,
Suite 18K

New York, NY 10016

  

This Subscription Agreement
(this “Agreement”) has been executed by the subscriber set forth in the signature page attached hereto
(the “Subscriber”) in connection with the private placement offering (the “Offering”)
of $_________ principal amount of 10% eighteen (18) month convertible promissory notes (the “Notes”)
of Eastern Resources, Inc., a Delaware Corporation (the “Company”). This subscription is being submitted
to you in accordance with and subject to the terms and conditions described in this Agreement.

 

The Notes being subscribed
for pursuant to this Agreement, or the securities into which the Notes may be converted, have not been registered under the Securities
Act of 1933, as amended (the “Securities Act”). The Offering is being made on a “best efforts”
basis to “accredited investors,” as defined in Regulation D under the Securities Act, and subscribers who are not ”U.S.
persons,” as defined in Regulation S under the Securities Act. The Company reserves the right, in its sole discretion and
for any reason, to reject any Subscriber’s subscription in whole or in part, or to allot less than the number of Notes subscribed
for.

 

The closing of the
Offering (the “Closing;” and the date on which such Closing occurs hereinafter referred to as the “Closing
Date”) shall be at the offices of Gottbetter & Partners, LLP, as escrow agent (the “Escrow Agent”),
at 488 Madison Avenue, New York, New York 10022 (or such other place as is mutually agreed to by the Company). The Company may
conduct multiple closings for the sale of the Notes until the termination of the Offering. The Offering shall continue until the
maximum amount of the Offering is reached or it is otherwise terminated by the Company.

 

1.Subscription.
The undersigned Subscriber hereby subscribes to purchase the principal amount of Notes set forth on the signature page attached
hereto (the “Purchase Price”), subject to the terms and conditions of this Agreement and on the basis
of the representations, warranties, covenants and agreements contained herein.

 

2.Subscription
Procedure. To complete a subscription for the Notes, the Subscriber must fully comply with the subscription procedure provided
in this Section on or before the Closing Date.

 

a.Transaction
Documents. On or before the Closing Date, the Subscriber shall review, complete and execute the Signature Page to this Agreement,
the Anti-Money Laundering Investor Form (with attachments), the Investor Profile and the Investor Certification, attached hereto
as Appendix A (collectively, the “Transaction Documents”), and deliver the Transaction Documents
to the Escrow Agent. Executed documents may be delivered to the Escrow Agent by facsimile or electronic mail (e-mail), if the Subscriber
delivers the original copies of the documents to the Escrow Agent as soon as practicable thereafter.

 

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b.Purchase Price.
Simultaneously with the delivery of the Transaction Documents to the Escrow Agent as provided herein, and in any event on or prior
to the Closing Date, the Subscriber shall deliver to the Escrow Agent the full Purchase Price, plus $160 (the “Escrow Fee”)
for services rendered by the Escrow Agent in such capacity hereunder, by check or by wire transfer of immediately available funds.

 

c.Company Discretion.
The Subscriber understands and agrees that the Company in its sole discretion reserves the right to accept or reject this or any
other subscription for Notes, in whole or in part, notwithstanding prior receipt by the Subscriber of notice of acceptance of this
subscription. The Company shall have no obligation hereunder until the Company shall execute and deliver to the Subscriber an executed
copy of this Agreement. If this subscription is rejected in whole, or the offering of Notes is terminated, all funds received from
the Subscriber will be returned without interest or offset, and this Agreement shall thereafter be of no further force or effect.
If this subscription is rejected in part, the funds for the rejected portion of this subscription will be returned without interest
or offset, and this Agreement will continue in full force and effect to the extent this subscription was accepted.

 

d.No Trading.
The Subscriber represents and warrants to the Company that neither the Subscriber nor any of its affiliates has directly or indirectly
traded any securities of the Company, including without limitation, making any short sales or engaging in any hedging transaction
with respect to such securities (collectively, “Prohibited Transactions”), since becoming aware of the
Offering. Furthermore, Subscriber shall not engage in any Prohibited Transactions through the final Closing Date.

 

3.Representations
and Warranties of the Company. The Company hereby represents and warrants to the Subscriber the following:

 

a.Organization
and Qualification. The Company is a corporation duly organized and validly existing under the laws of the State of Delaware.
The Company has all requisite power and authority to carry on its business as currently conducted, other than such failures that
would not reasonably be expected to have a material adverse effect on the Company’s business, properties or financial condition
(a “Material Adverse Effect”). The Company is duly qualified to transact business in each jurisdiction
in which the failure to be so qualified would reasonably be expected to have a Material Adverse Effect.

 

b.Authorization.
As of the Closing, all action on the part of the Company, its board of directors, officers and existing stockholders necessary
for the authorization, execution and delivery of this Agreement and the performance of all obligations of the Company hereunder
and thereunder shall have been taken, and this Agreement, assuming due execution by the parties hereto and thereto, will constitute
valid and legally binding obligations of the Company, enforceable in accordance with their respective terms, subject to: (i) judicial
principles limiting the availability of specific performance, injunctive relief, and other equitable remedies and (ii) bankruptcy,
insolvency, reorganization, moratorium or other similar laws now or hereafter in effect generally relating to or affecting creditors’
rights.

 

c.Governmental
Consents. No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing
with, any federal, state or local governmental authority on the part of the Company is required in connection with the offer, sale
or issuance of the Notes, except for the following: (i) the filing of such notices as may be required under the Securities Act
and (ii) the compliance with any applicable state securities laws, which compliance will have occurred within the appropriate time
periods therefor.

 

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d.Litigation.
There are no actions, suits, proceedings or investigations pending or, to the best of the Company’s knowledge, threatened
before any court, administrative agency or other governmental body against the Company which question the validity of this Agreement,
or the right of the Company to enter into either of them, or to consummate the transactions contemplated hereby or thereby, or
which would reasonably be expected to have a Material Adverse Effect. The Company is not a party or subject to, and none of its
assets is bound by, the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality
which would reasonably be expected to have a Material Adverse Effect.

 

e.Compliance
with Other Instruments. The Company is not in violation or default of any provision of its Articles of Incorporation, each
as in effect immediately prior to the Closing, except for such failures as would not reasonably be expected to have a Material
Adverse Effect. The Company is not in violation or default of any provision of any material instrument, mortgage, deed of trust,
loan, contract, commitment, judgment, decree, order or obligation to which it is a party or by which it or any of its properties
or assets are bound which would reasonably be expected to have a Material Adverse Effect. To the best of its knowledge, the Company
is not in violation or default of any provision of any federal, state or local statute, rule or governmental regulation which would
reasonably be expected to have a Material Adverse Effect. The execution, delivery and performance of and compliance with this Agreement
and the issuance and sale of the Notes, will not result in any such violation, be in conflict with or constitute, with or without
the passage of time or giving of notice, a default under any such provision, require any consent or waiver under any such provision
(other than any consents or waivers that have been obtained), or result in the creation of any mortgage, pledge, lien, encumbrance
or charge upon any of the properties or assets of the Company pursuant to any such provision.

 

f.Certain Registration
Matters. Assuming the accuracy of the Subscriber’s representations and warranties set forth in this Agreement and the
Transaction Documents, and the representations and warranties made by all other purchasers of Notes in the Offering, no registration
under the Securities Act is required for the offer and sale of the Notes by the Company to the Subscriber hereunder.

 

g.No General
Solicitation. Neither the Company nor any person acting on behalf of the Company has offered or sold any of the Notes by any
form of general solicitation or general advertising (within the meaning of Regulation D).

 

4.Representations
and Warranties of the Subscriber. The Subscriber represents and warrants to the Company the following:

 

a.Subscriber
Knowledge and Experience. The Subscriber, its advisers, if any, and designated representatives, if any, have the knowledge
and experience in financial and business matters necessary to evaluate the merits and risks of its prospective investment in the
Company, and have carefully reviewed and understand the risks of, and other considerations relating to, the purchase of Notes and
the tax consequences of the investment, and have the ability to bear the economic risks of the investment.

 

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b.Investment
Purpose. The Subscriber is acquiring the Notes for investment for its own account and not with the view to, or for resale in
connection with, any distribution thereof. The Subscriber understands and acknowledges that the Notes and the securities that may
be issued upon conversion of the Notes (collectively, the “Securities”) have not been registered under
the Securities Act or any state securities laws, by reason of a specific exemption from the registration provisions of the Securities
Act and applicable state securities laws, which depends upon, among other things, the bona fide nature of the investment intent
as expressed herein. The Subscriber further represents that it does not have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participation to any third person with respect to any of the Securities. The Subscriber
understands and acknowledges that the offering of the Notes pursuant to this Agreement will not be registered under the Securities
Act nor under the state securities laws on the ground that the sale provided for in this Agreement and the issuance of securities
hereunder is exempt from the registration requirements of the Securities Act and any applicable state securities laws.

 

c.No
Public Market. The Subscriber understands that no public market now exists, and there never will be a public market for, the
Notes, that an active public market for the Company’s common stock does not now exist and that there may never be an active
public market for the common stock of the Company.

 

d.Information.
The Subscriber, its advisers, if any, and designated representatives, if any, have received and reviewed information about the
Company and have had an opportunity to discuss the Company’s business, management and financial affairs with its management.
The Subscriber understands that such discussions, as well as any written information provided by the Company, were intended to
describe the aspects of the Company’s business and prospects which the Company believes to be material, but were not necessarily
a thorough or exhaustive description, and except as expressly set forth in this Agreement, the Company makes no representation
or warranty with respect to the completeness of such information and makes no representation or warranty of any kind with respect
to any information provided by any entity other than the Company. Some of such information includes projections as to the future
performance of the Company, which projections may not be realized, are based on assumptions which may not be correct and are subject
to numerous factors beyond the Company’s control.

 

e.Investment
Authorization. As of the Closing, all action on the part of Subscriber, and its officers, directors and partners, if applicable,
necessary for the authorization, execution and delivery of this Agreement and the performance of all obligations of the Subscriber
hereunder and thereunder shall have been taken, and this Agreement, assuming due execution by the parties hereto and thereto, constitute
valid and legally binding obligations of the Subscriber, enforceable in accordance with their respective terms, subject to: (i)
judicial principles limiting the availability of specific performance, injunctive relief, and other equitable remedies and (ii)
bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect generally relating to or affecting
creditors’ rights.

 

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f.Accredited
Investor Status. The Subscriber either (i) is an “accredited investor” as defined in Rule 501 of Regulation D as
promulgated by the Securities and Exchange Commission under the Securities Act or (ii) is not a “U.S. Person” as defined
in Regulation S as promulgated by the Securities and Exchange Commission under the Securities Act, and, in each case, shall submit
to the Company such further assurances of such status as may be reasonably requested by the Company.

 

g.Non-U.S.
Person Status. The Subscriber, if a non-U.S. Person, agrees that it is acquiring the Notes in an offshore transaction pursuant
to Regulation S and hereby represents to the Company as follows:

 

(i)The
Subscriber is outside the United States when receiving and executing this Subscription Agreement;

 

(ii)The
Subscriber has not acquired the Notes as a result of, and will not itself engage in, any “directed selling efforts”
(as defined in Regulation S) in the United States in respect of the Notes which would include any activities undertaken for the
purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale
of the Notes; provided, however, that the Subscriber may sell or otherwise dispose of the Notes pursuant to registration of the
Notes under the Securities Act and any applicable state and provincial securities laws or under an exemption from such registration
requirements and as otherwise provided herein;

 

(iii)The
Subscriber understands and agrees that offers and sales of any of the Notes prior to the expiration of a period of one year after
the date of transfer of the Notes under this Subscription Agreement (the “Distribution Compliance Period”),
shall only be made in compliance with the safe harbor provisions set forth in Regulation S, pursuant to the registration provisions
of the Securities Act or an exemption therefrom, and that all offers and sales after the Distribution Compliance Period shall be
made only in compliance with the registration provisions of the Securities Act or an exemption therefrom, and in each case only
in accordance with all applicable securities laws;

 

(iv)The
Subscriber understands and agrees not to engage in any hedging transactions involving the Notes prior to the end of the Distribution
Compliance Period unless such transactions are in compliance with the Securities Act; and

 

(v)The
Subscriber hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection
with any invitation to subscribe for the Notes or any use of this Subscription Agreement, including: (a) the legal requirements
within its jurisdiction for the purchase of the Notes; (b) any foreign exchange restrictions applicable to such purchase; (c) any
governmental or other consents that may need to be obtained; and (d) the income tax and other tax consequences, if any, that may
be relevant to the purchase, holding, redemption, sale or transfer of the Notes. Such Subscriber’s subscription and payment
for, and its continued beneficial ownership of the Notes, will not violate any applicable securities or other laws of the Subscriber’s
jurisdiction.

 

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h.Anti-Money
Laundering. Subscriber represents that neither it nor, to its knowledge, any person or entity controlling, controlled by or
under common control with it, nor any person having a beneficial interest in it, nor any person on whose behalf the Subscriber
is acting: (i) is a person listed in the Annex to Executive Order No. 13224 (2001) issued by the President of the United States
(Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism);
(ii) is named on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets
Control; (iii) is a non-U.S. shell bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a senior
non-U.S. political figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited from
investing in the Company pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations,
rules or orders (categories (i) through (v), each a “Prohibited Subscriber”). The Subscriber agrees to provide
the Company, promptly upon request, all information that the Company reasonably deems necessary or appropriate to comply with applicable
U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders. The Subscriber consents to the
disclosure to U.S. regulators and law enforcement authorities by the Company and its affiliates and agents of such information
about the Subscriber as the Company reasonably deems necessary or appropriate to comply with applicable U.S. antimony laundering,
anti-terrorist and asset control laws, regulations, rules and orders. If the Subscriber is a financial institution that is subject
to the USA Patriot Act, the Subscriber represents that it has met all of its obligations under the USA Patriot Act. The Subscriber
acknowledges that if, following its investment in the Company, the Company reasonably believes that the Subscriber is a Prohibited
Subscriber or is otherwise engaged in suspicious activity or refuses to promptly provide information that the Company requests,
the Company has the right or may be obligated to prohibit additional investments, segregate the assets constituting the investment
in accordance with applicable regulations or immediately require the Subscriber to transfer the Securities. The Subscriber further
acknowledges that the Subscriber will have no claim against the Company or any of its affiliates or agents for any form of damages
as a result of any of the foregoing actions.

 

i.High
Risk Investment. The Subscriber or its duly authorized representative realizes that because of the inherently speculative nature
of businesses of the kind conducted and contemplated by the Company, the Company’s financial results may be expected to fluctuate
from month to month and from period to period and will, generally, involve a high degree of financial and market risk that could
result in substantial or, at times, even total losses for investors in securities of the Company.

 

j.Subscriber
Liquidity. The Subscriber has adequate means of providing for its current and anticipated financial needs and contingencies,
is able to bear the economic risk for an indefinite period of time and has no need for liquidity of the investment in the Notes
and could afford complete loss of such investment.

 

k.No
General Solicitation. The Subscriber is not subscribing for Notes as a result of or subsequent to any advertisement, article,
notice or other communication, published in any newspaper, magazine or similar media or broadcast over television, radio, or the
internet, or presented at any seminar or meeting, or any solicitation of a subscription by a person not previously known to the
Subscriber in connection with investments in securities generally.

 

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l.Subscriber
Information. All of the information that the Subscriber has heretofore furnished or which is set forth herein is correct and
complete as of the date of this Agreement, and, if there should be any material change in such information prior to the admission
of the undersigned to the Company, the Subscriber will immediately furnish revised or corrected information to the Company.

 

m.Gottbetter
& Partners, LLP – Relationship to Company. The Subscriber acknowledges that Adam S. Gottbetter is the owner of Gottbetter
& Partners, LLP and Gottbetter Capital Group, Inc. Gottbetter & Partners, LLP and Gottbetter Capital Group, Inc. own shares
of the Company. Gottbetter & Partners, LLP is counsel to the Company and receives legal fees pursuant to a retainer agreement
with the Company.

 

5.Transfer
Restrictions. The Subscriber acknowledges and agrees as follows:

 

a.Reliance
on Exemptions. The Notes have not been registered for sale under the Securities Act, in reliance on the private offering exemption
in Section 4(2) thereof and under Regulation D or Regulation S thereunder; the Company does not intend to register the Notes under
the Securities Act at any time in the future.

 

b.Legends.
The Subscriber understands that the certificates representing the Securities, until such time as they have been registered under
the Securities Act, shall bear a restrictive legend in substantially the following form (and a stop-transfer order may be placed
against transfer of such certificates or other instruments):

 

For
U.S. Persons:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE
TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES,
WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED
IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES LAWS.

 

For
Non-U.S. Persons:

 

THESE
SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S) PURSUANT TO
REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). ACCORDINGLY, NONE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS
SO REGISTERED, NONE MAY BE OFFERED OR SOLD IN THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS EXCEPT PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE 1933 ACT, AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING
THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT.

 

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The legend(s)
set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of the Securities
upon which it is stamped, if (a) such Securities are sold pursuant to a registration statement under the Securities Act, or
(b) such holder delivers to the Company an opinion of counsel, reasonably acceptable to the Company, that a disposition of
the Securities is being made pursuant to an exemption from such registration and that the Securities, after such transfer, shall
no longer be “restricted securities” within the meaning of Rule 144.

 

c.No
Governmental Review. No governmental agency has passed upon the Securities or made any finding or determination as to the wisdom
of any investments therein.

 

d.Restrictions
on Transfer. There are substantial restrictions on the transferability of the Securities, and if the Company decides to issue
certificates representing the Securities, restrictive legends will be placed on any such certificates.

 

6.Indemnification.
The Subscriber agrees to indemnify and hold harmless the Company, the Escrow Agent and their respective officers, directors, employees,
agents, control persons and affiliates from and against all losses, liabilities, claims, damages, costs, fees and expenses whatsoever
(including, but not limited to, any and all expenses incurred in investigating, preparing or defending against any litigation commenced
or threatened) based upon or arising out of any actual or alleged false acknowledgment, representation or warranty, or misrepresentation
or omission to state a material fact, or breach by the Subscriber of any covenant or agreement made by the Subscriber herein or
in any other document delivered in connection with this Agreement.

 

7.Irrevocability; Binding Effect.
The Subscriber hereby acknowledges and agrees that the subscription hereunder is irrevocable by the Subscriber, except as required
by applicable law, and that this Agreement shall survive the death or disability of the Subscriber and shall be binding upon and
inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives and permitted
assigns. If the Subscriber is more than one person, the obligations of the Subscriber hereunder shall be joint and several and
the agreements, representations, warranties and acknowledgments herein shall be deemed to be made by and be binding upon each such
person and such person’s heirs, executors, administrators, successors, legal representatives and permitted assigns.

 

8.Modification.
This Agreement shall not be modified or waived except by an instrument in writing signed by the party against whom any such modification
or waiver is sought.

 

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9.Notices. Any notice or other
communication required or permitted to be given hereunder shall be in writing and shall be mailed by certified mail, return receipt
requested, or delivered against receipt to the party to whom it is to be given (a) if to the Company, at the address set forth
above, or (b) if to the Subscriber, at the address set forth on the signature page hereof (or, in either case, to such other address
as the party shall have furnished to the other in writing in accordance with the provisions of this Section 10). Any notice or
other communication given by certified mail shall be deemed given at the time of certification thereof, except for a notice changing
a party’s address which shall be deemed given at the time of receipt thereof.

 

10.Assignability. This Agreement
and the rights, interests and obligations hereunder are not transferable or assignable by the Subscriber and the transfer or assignment
of the Notes shall be made only in accordance with all applicable laws.

 

11.Applicable
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without reference
to the principles thereof relating to the conflict of laws.

 

12.Arbitration. The parties
agree to submit all controversies to arbitration in accordance with the provisions set forth below and understand that:

 

(a)Arbitration is final and
binding on the parties.

 

(b)The parties are waiving
their right to seek remedies in court, including the right to a jury trial.

 

(c)Pre-arbitration discovery
is generally more limited and different from court proceedings.

 

(d)The arbitrator’s
award is not required to include factual findings or legal reasoning and any party’s right to appeal or to seek modification
of rulings by arbitrators is strictly limited.

 

(e)The panel of arbitrators
will typically include a minority of arbitrators who were or are affiliated with the securities industry.

 

(f)All controversies which
may arise between the parties concerning this Agreement shall be determined by arbitration pursuant to the rules then pertaining
to the Financial Industry Regulatory Authority in New York City, New York. Judgment on any award of any such arbitration may be
entered in the Supreme Court of the State of New York or in any other court having jurisdiction of the person or persons against
whom such award is rendered. Any notice of such arbitration or for the confirmation of any award in any arbitration shall be sufficient
if given in accordance with the provisions of this Agreement. The parties agree that the determination of the arbitrators shall
be binding and conclusive upon them.

 

13.Blue Sky Qualification. The
purchase of Notes under this Agreement is expressly conditioned upon the exemption from qualification of the offer and sale of
the Notes from applicable federal and state securities laws. The Company shall not be required to qualify this transaction under
the securities laws of any jurisdiction and, should qualification be necessary, the Company shall be released from any and all
obligations to maintain its offer, and may rescind any sale contracted, in the jurisdiction.

 

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14.Use of Pronouns. All pronouns
and any variations thereof used herein shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity
of the person or persons referred to may require.

 

15.Confidentiality. The Subscriber
acknowledges and agrees that any information or data the Subscriber has acquired from or about the Company, not otherwise properly
in the public domain was received in confidence. The Subscriber agrees not to divulge, communicate or disclose, except as may be
required by law or for the performance of this Agreement, or use to the detriment of the Company or for the benefit of any other
person, or misuse in any way, any confidential information of the Company, including any scientific, technical, trade or business
secrets of the Company and any scientific, technical, trade or business materials that are treated by the Company as confidential
or proprietary, including, but not limited to, ideas, discoveries, inventions, developments and improvements belonging to the Company
and confidential information obtained by or given to the Company about or belonging to third parties.

 

16.Miscellaneous.

 

(a)This Agreement constitutes the entire
agreement between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written
agreements and understandings, if any, relating to the subject matter hereof. The terms and provisions of this Agreement may be
waived, or consent for the departure therefrom granted, only by a written document executed by the party entitled to the benefits
of such terms or provisions.

 

(b)The representations and warranties
of the Company and the Subscriber made in this Agreement shall survive the execution and delivery hereof and delivery of the Notes.

 

(c)Each of the parties hereto shall
pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others engaged by such party) in
connection with this Agreement and the transactions contemplated hereby, whether or not the transactions contemplated hereby are
consummated.

 

(d)This Agreement may be executed in
one or more original or facsimile counterparts, each of which shall be deemed an original, but all of which shall together constitute
one and the same instrument.

 

(e)Each provision of this Agreement
shall be considered separable and, if for any reason any provision or provisions hereof are determined to be invalid or contrary
to applicable law, such invalidity or illegality shall not impair the operation of or affect the remaining portions of this Agreement.

 

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(f)Paragraph titles are for descriptive
purposes only and shall not control or alter the meaning of this Agreement as set forth in the text.

 

(g)The Subscriber understands and acknowledges
that there may be multiple Closings for the Offering.

 

(h)The Subscriber hereby agrees to
furnish the Company such other information as the Company may request prior to the Closing with respect to its subscription hereunder.

 

18.Public
Disclosure. Neither the Subscriber nor any officer, manager, director, member, partner, stockholder, employee, affiliate, affiliated
person or entity of the Subscriber shall make or issue any press releases or otherwise make any public statements or make any disclosures
to any third person or entity with respect to the transactions contemplated herein and will not make or issue any press releases
or otherwise make any public statements of any nature whatsoever with respect to the Company without the Company’s express
prior approval. The Company has the right to withhold such approval in its sole discretion.

 

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INTENTIONALLY LEFT BLANK]

 

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How to subscribe for Notes in the private
offering of

Eastern Resources, Inc.:

 

		1.	Date and Fill in the principal amount of Notes being purchased and Complete and Sign
the Signature Page.

 

		2.	Initial the Investor Certification page.

 

		3.	Fax or email all forms and then send all signed original documents to:

 

Gottbetter & Partners, LLP

488 Madison Avenue, 12th Floor

New York, NY 10022

Facsimile Number: (212) 400-6901

Telephone Number: (212) 400-6900

Attn: Paul C. Levites

E-mail Address: pcl@gottbetter.com

 

		4.	If you are paying the Purchase Price
by check, a check for the exact dollar amount of the Purchase
Price for the principal amount of Notes you are offering to purchase and the $160 Escrow Fee should be made payable
to the order of “Gottbetter & Partners, LLP, Escrow Agent
for EASTERN RESOURCES, INC.” and should be sent to Gottbetter & Partners, LLP, 488 Madison Avenue, 12th
Floor, New York, NY 10022.

 

		5.	If you are paying the Purchase Price by wire transfer, you should send a wire transfer
for the exact dollar amount of the Purchase Price for the number of Notes you are offering to purchase and the $160 Escrow
Fee according to the following instructions: 

 

BANK:  Citibank, N.A.

ABA#:  021000089

SWIFT CODE: CITIUS33

ACCOUNT NAME:  Gottbetter & Partners,
LLP Attorney Trust

ACCOUNT:   9998176923

REFERENCE:  Eastern Resources,
Inc. Escrow – [insert Subscriber’s name]”

 

Thank you for your interest,

 

 

Eastern Resources, Inc.

 

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EASTERN RESOURCES, INC.

SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT

 

IN WITNESS WHEREOF, the Subscriber hereby
executes this Subscription Agreement.

 

Dated: February 1, 2012

 

	SUBSCRIBER (individual)	 	SUBSCRIBER (entity)	 
	 	 	 	 	 
	 	 	 	 
	Signature	 	Name of Entity	 
	 	 	 	 	 
	 	 	 	 
	Print Name	 	Signature	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	Print Name: 	 	 
	Signature (if Joint Tenants or Tenants in Common)	 	 	 	 
	 	 	Title: 	 	 
	 	 	 	 	 
	Address of Principal Residence:	 	Address of Executive Offices:	 
	 	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 	 
	Social Security Number(s):	 	IRS Tax Identification Number: 	 
	 	 	 	 
	 	 	 	 	 
	Telephone Number:	 	Telephone Number: 	 
	 	 	 	 
	 	 	 	 	 
	Facsimile Number:	 	Facsimile Number: 	 
	 	 	 	 
	 	 	 	 	 
	E-mail Address:	 	E-mail Address: 	 	 
	 	 	 	 	 

 

$__________

Principal Amount of Notes

 

$160 Escrow Fee

    	13

    	 

    

EASTERN RESOURCES, INC.

 

IN WITNESS WHEREOF, the Company has duly executed
this Subscription Agreement with respect to ______________ Notes as of the ___ day of ____________, 2012.

 

	 	EASTERN RESOURCES, INC.	 
	 	 	 	 
	 	By:	 	 
	 	Name:	Thomas H. Hanna, Jr.	 
	 	Title:	Chief Executive Officer	 

 

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ANTI-MONEY LAUNDERING INFORMATION FORM

The following is required in accordance
with the AML provision of the USA PATRIOT ACT.

(Please fill out and return with requested
documentation.)

 

	INVESTOR NAME:	 
	LEGAL ADDRESS:	 
	 	 
	SSN# or TAX ID#	 
	OF INVESTOR:	 
	FOR INVESTORS WHO ARE INDIVIDUALS: 
	YEARLY INCOME:  	 	AGE:  	 
	NET WORTH*:  	 
	OCCUPATION:  	 
	ADDRESS OF EMPLOYER:	 
	 	 
	INVESTMENT OBJECTIVE(S):  	 

 

 

IDENTIFICATION & DOCUMENTATION
AND SOURCE OF FUNDS:

 

		1.	Please submit a copy of non-expired identification for the authorized signatory(ies) on the investment
documents, showing name, date of birth, address and signature. The address shown on the identification document MUST match the
Investor’s address shown on the Investor Signature Page.

 

	Current Driver’s License	or	Valid Passport	or	Identity Card

(Circle one or more)

 

		2.	If the Investor is a corporation, limited liability company, trust or other type of entity, please
submit the following requisite documents: (i) Articles of Incorporation, By-Laws, Certificate of Formation, Operating Agreement,
Trust or other similar documents for the type of entity; and (ii) Corporate Resolution or power of attorney or other similar document
granting authority to signatory(ies) and designating that they are permitted to make the proposed investment.

 

		3.	Please advise where the funds were derived from to make the proposed investment:

 

	Investments	Savings	Proceeds of Sale	Other ____________

(Circle one or more)

 

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

 

*    
For purposes of calculating your net worth in this form, (a) your primary residence shall not be included as an asset; (b)
indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of
your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding
at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result
of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness
that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of
your purchase of the securities shall be included as a liability.

 

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EASTERN RESOURCES, INC.

 

INVESTOR CERTIFICATION

 

For
Individual Accredited Investors Only

(all
Individual Accredited Investors must INITIAL where appropriate):

 

	Initial _______	I have a net worth (excluding the value of my primary residence) in excess of $1,000,000 either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.)
	Initial _______	I have had an annual gross income for the past two years of at least $200,000 (or $300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.

 

For Non-Individual
Accredited Investors

(all Non-Individual
Accredited Investors must INITIAL where appropriate):

 

	Initial _______	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above.
	Initial _______	The investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least $5 million and was not formed for the purpose of investing in the Company.
	Initial _______	The investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment adviser.
	Initial _______	The investor certifies that it is an employee benefit plan whose total assets exceed $5,000,000 as of the date of this Agreement.
	Initial _______	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet either of the criteria for Individual Investors.
	Initial _______	The investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.
	Initial _______	The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.
	Initial _______	The investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding $5,000,000 and not formed for the specific purpose of investing in the Company.

  

    	16

    	 

    

 

EASTERN RESOURCES, INC.

Investor Profile

(Must be completed by Investor)

Section A - Personal Investor Information

	Investor Name(s):	 
	Individual executing Profile or Trustee:	 
	Social Security Numbers / Federal I.D. Number:	 
	Date of Birth:	 	 	 	Marital Status:	 	 
	Joint Party Date of Birth:	 	 	 	Investment Experience (Years):	 	 
	Annual Income:	 	 	 	Liquid Net Worth:	 	 
	Net Worth*:	 
	Tax Bracket:	 	 	15% or below	 	 	25% - 27.5%	 	 	Over 27.5%
	Home Street Address:	 
	 	 
	Home City, State & Zip Code:	 
	Home Phone:	 	Home Fax:	 	Home Email:	 
	Employer:	 
	Employer Street Address:	 
	Employer City, State & Zip Code:	 
	Bus. Phone:	 	Bus. Fax:	 	Bus. Email:	 
	Type of Business:	 
	(PLACEMENT AGENT) Account Executive / Outside Broker/Dealer:
	If you are a United States citizen, please list the number and jurisdiction of issuance of any other government-issued document evidencing residence and bearing a photograph or similar safeguard (such as a driver’s license or passport), and provide a photocopy of each of the documents you have listed.
	 
	If you are NOT a United States citizen, for each jurisdiction of which you are a citizen or in which you work or reside, please list (i) your passport number and country of issuance or (ii) alien identification card number AND (iii) number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard, and provide a photocopy of each of these documents you have listed.  These photocopies must be certified by a lawyer as to authenticity. 
	 
	
         

        *    
        For purposes of calculating your net worth in this form, (a) your primary residence shall not be included as an asset; (b)
        indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of
        your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding
        at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result
        of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness
        that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of
        your purchase of the securities shall be included as a liability.

         

         

	Section B – Certificate Delivery Instructions
	 
	 	 	Please deliver certificate to the Employer Address listed in Section A.
	 	 	Please deliver certificate to the Home Address listed in Section A.
	 	 	Please deliver certificate to the following address:	 
	 
	Section C – Form of Payment – Check or Wire Transfer
	 
	 	 	Check payable to Gottbetter & Partners, LLP, as Escrow Agent for Eastern Resources, Inc.
	 	 	Wire funds from my outside account according to the “How to subscribe for Units” Page.
	 	 	The funds for this investment are rolled over, tax deferred from __________ within the allowed 60 day window.
	 
	Please check if you are a FINRA member or affiliate of a FINRA member firm: ________
	 
	 	 	 
	Investor Signature	 	Date
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	17

    	 

    
 

Appendix
A

 

For Non-U.S.
Person Investors

(all Investors who are not a U.S. Person
must INITIAL this section):

 

Initial
_______The Investor is not a “U.S. Person” as defined in Regulation S; and specifically the Purchaser is not:

 

		A.	a natural person resident in the United States of America, including its territories and possessions
(“United States”);

		B.	a partnership or corporation organized or incorporated under the laws of the United States;

		C.	an estate of which any executor or administrator is a U.S. Person;

		D.	a trust of which any trustee is a U.S. Person;

		E.	an agency or branch of a foreign entity located in the United States;

		F.	a non-discretionary account or similar account (other than an estate or trust) held by a dealer
or other fiduciary for the benefit or account of a U.S. Person;

		G.	a discretionary account or similar account (other than an estate or trust) held by a dealer or
other fiduciary organized, incorporated, or (if an individual) resident in the United States; or

		H.	a partnership or corporation: (i) organized or incorporated under the laws of any foreign jurisdiction;
and (ii) formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act,
unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Act) who are not
natural persons, estates or trusts.

 

And, in
addition:

 

		I.	the Purchaser was not offered the Notes in the United States;

		J.	at the time the buy-order for the Notes was originated, the Purchaser was outside the United States;
and

		K.	the Purchaser is purchasing the Notes for its own account and not on behalf of any U.S. Person
(as defined in Regulation S) and a sale of the Notes has not been pre-arranged with a purchaser in the United States.

 

    	18THE SECURITIES EVIDENCED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES ACT”), AND MAY NOT BE SOLD, TRANSFERRED,
ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES, THE SALE
IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE COMPANY STATING THAT
SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

 

	Warrant No. W-___	Number of Shares: ____________	 

 

Date of Issuance: February 6, 2012 (“Issuance
Date”)

 

VRINGO, INC.

 

Common Stock Warrant

 

Vringo, Inc.
(the “Company”), for value received, hereby certifies that ________, or its registered assigns (the “Registered
Holder”), is entitled, subject to the terms of this Common Stock Warrant (the “Warrant”) set forth
below, to purchase from the Company, at any time after the date hereof and on or before February 6, 2017 (the “Expiration
Date”), up to ________ (_______) shares of common stock of the Company (the “Warrant Stock”), par
value $0.01 per share (the “Common Stock”), at a per share exercise price (the “Exercise Price”)
equal to One Dollar and Seventy-Six Cents ($1.76) per share (subject to adjustment as set forth
in Section 2). 

 

1.            Exercise.

 

(a)          Method
of Exercise. This Warrant may be exercised by the Registered Holder, in whole or in part, by delivering the form
appended hereto as Exhibit A duly executed by such Registered Holder (the “Exercise Notice”), at
the principal office of the Company, or at such other office or agency as the Company may designate in writing prior to the date
of such exercise, accompanied by payment in full of the Exercise Price payable with respect to the number of shares of Warrant
Stock purchased upon such exercise. The Exercise Price must be paid by cash, check or wire transfer in immediately available funds
for the Warrant Stock being purchased by the Registered Holder, except as provided in Section 1(c).         

 

(b)          Effective
Time of Exercise. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of
business on the day on which the Exercise Notice has been delivered to the Company (the “Exercise Date”) as
provided in this Section 1. At such time, the person or persons in whose name or names any certificates for Warrant Stock shall
be issuable upon such exercise as provided in Section 1(d) below shall be deemed to have become the holder or holders of record
of the Warrant Stock represented by such certificates.

 

(c)          Cashless
Exercise. Notwithstanding any provisions herein to the contrary, if at any time between the three (3) month anniversary
of the Issuance Date and the Expiration Date, there is no effective Registration Statement under the Securities Act registering
the resale of the Warrant Stock by the Registered Holder, then the Registered Holder may elect to exercise this Warrant, or a portion
hereof, and to pay for the Warrant Stock by way of cashless exercise (a “Cashless Exercise”). If the Registered
Holder wishes to effect a cashless exercise, the Registered Holder shall deliver the Exercise Notice duly executed by such Registered
Holder or by such Registered Holder’s duly authorized attorney, at the principal office of the Company, or at such other
office or agency as the Company may designate in writing prior to the date of such exercise, in which event the Company shall issue
to the Registered Holder the number of shares of Warrant Stock computed according to the following equation:

 

    	 

    	 

    

 

 

; where

 

X = the number of shares
of Warrant Stock to be issued to the Registered Holder.

 

Y = the Warrant Stock
purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant Stock being
exercised.

 

A = the Fair Market Value
(defined below) of one share of Common Stock on the Exercise Date.

 

B = the Exercise Price
(as adjusted pursuant to the provisions of this Warrant).

 

For purposes of this
Section 1(c), the “Fair Market Value” of one share of Common Stock on the Exercise Date shall have one of the following
meanings:

 

(1)         if
the Common Stock is traded on a national securities exchange, the Fair Market Value shall be deemed to be the average of the Closing
Prices over a five trading day period ending on the Exercise Date. For the purposes of this Warrant, “Closing Price”
means the final price at which one share of Common Stock is traded during any trading day; or

 

(2)         if
the Common Stock is traded over-the-counter, the Fair Market Value shall be deemed to be the average of the closing sales price
over the thirty (30) day period ending three (3) days before the Exercise Date; or

 

(3)         if
neither (1) nor (2) is applicable, the Fair Market Value shall be at the commercially reasonable price per share which the Company
could obtain on the Exercise Date from a willing buyer (not a current employee or director) for shares of Common Stock sold by
the Company, from authorized but unissued shares, as determined in good faith by the Company’s Board of Directors.

 

For illustration purposes
only, if this Warrant entitles the Registered Holder the right to purchase 100,000 shares of Warrant Stock and the Holder were
to exercise this Warrant for 50,000 shares of Warrant Stock at a time when the Exercise Price was reduced to $1.00 and the Fair
Market Value of each share of Common Stock was $2.00 on the Exercise Date, as applicable, the cashless exercise calculation would
be as follows:

 

X = 50,000 ($2.00-$1.00)

$2.00

 

X = 25,000

 

    	 

    	 

    

 

Therefore, the number
of shares of Warrant Stock to be issued to the Holder after giving effect to the cashless exercise would be 25,000 shares of Warrant
Stock and the Company would issue the Holder a new Warrant to purchase 50,000 shares of Warrant Stock, reflecting the portion of
this Warrant not exercised by the Holder. For purposes of Rule 144 promulgated under the Securities Act of 1933, as amended (the
“Securities Act”), it is intended, understood and acknowledged that the Warrant Stock issued in the cashless exercise
transaction described pursuant to Section 1(c) shall be deemed to have been acquired by the Holder, and the holding period for
the shares of Warrant Stock shall be deemed to have commenced, on the date of the Registered Holder’s acquisition of the
Warrant.

 

(d)          Delivery
to Holder. As soon as practicable after the exercise of this Warrant in whole or in part, and in any event within three
(3) business days thereafter (the “Warrant
Stock Delivery Date”), the Company will cause to be issued in the name of, and delivered to, the Registered Holder,
or as such Registered Holder (upon payment by such Registered Holder of any applicable transfer taxes) may direct:

 

(i)          a
certificate or certificates for the number of shares of Warrant Stock to which such Registered Holder shall be entitled, and

 

(ii)         in
case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on
the face or faces thereof for the number of shares of Warrant Stock equal (giving effect to any adjustment therein) to the number
of such shares called for on the face of this Warrant minus the number of such shares purchased by the Registered Holder upon such
exercise as provided in Section 1(a).

 

(e)          Compensation
for Buy-In on Failure to Timely Deliver Certificates Upon Exercise. In addition to any other rights available to the Registered
Holder, if the Company fails to transmit to the Registered Holder a certificate or the certificates representing the Warrant Stock
pursuant to an exercise on or before the Warrant Stock Delivery Date, and if after such date the Registered Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Registered Holder’s brokerage firm otherwise
purchases, shares of Common Stock to deliver in satisfaction of a sale by the Registered Holder of the Warrant Stock which the
Registered Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash
to the Holder the amount by which (x) the Registered Holder’s total purchase price (including brokerage commissions, if any)
for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of shares of Warrant
Stock that the Company was required to deliver to the Registered Holder in connection with the exercise at issue times (2) the
price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Registered Holder,
either reinstate the portion of the Warrant and equivalent number of shares of Warrant Stock for which such exercise was not honored
or deliver to the Registered Holder the number of shares of Common Stock that would have been issued had the Company timely complied
with its exercise and delivery obligations hereunder. For example, if the Registered Holder purchases Common Stock having a total
purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale
price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall
be required to pay the Registered Holder $1,000. The Registered Holder shall provide the Company written notice indicating the
amounts payable to the Registered Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such
loss.

 

    	 

    	 

    

 

(f) Registered
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Registered Holder
shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent (but only to
the extent) that the Registered Holder or any of the Registered Holder’s affiliates, would beneficially own in excess of
the Beneficial Ownership Limitation (as defined below). For purposes of this Section 1(e), beneficial ownership shall be calculated
in accordance with Section 13(d) of the Exchange Act (as defined herein) and the rules and regulations promulgated thereunder,
it being acknowledged by the Registered Holder that the Company is not representing to the Registered Holder that such calculation
is in compliance with Section 13(d) of the Exchange Act and the Registered Holder is solely responsible for any schedules required
to be filed in accordance therewith. To the extent that the limitation contained in this Section 1(f) applies, the determination
of whether this Warrant is exercisable (in relation to other securities owned by the Registered Holder together with any Affiliates)
and of which portion of this Warrant is exercisable shall be in the sole discretion of the Registered Holder, and the submission
of an Exercise Notice shall be deemed to be the Registered Holder’s determination of whether this Warrant is exercisable
(in relation to other securities owned by the Registered Holder together with any Affiliates) and of which portion of this Warrant
is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify
or confirm the accuracy of such determination. Upon the written or oral request of a Registered Holder, the Company shall within
two business days confirm orally and in writing to the Registered Holder the number of shares of Common Stock then outstanding.
In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Company, including this Warrant, by the Registered Holder or its Affiliates since the date as of which such
number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of
the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable
upon exercise of this Warrant. The Registered Holder, upon not less than 61 days’ prior notice to the Company, may increase
or decrease the Beneficial Ownership Limitation provisions of this Section 1(f), provided that the Beneficial Ownership Limitation
shall in no event exceed 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance
of shares of Common Stock upon exercise of this Warrant held by the Registered Holder and the provisions of this Section 1(f) shall
continue to apply. Any such increase or decrease will not be effective until the 61st day after such notice is delivered to the
Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with
the terms of this Section 1(f) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the
intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly
give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

2.            Adjustments.

 

(a)          Stock
Splits and Dividends. If the outstanding shares of the Company’s Common Stock shall be subdivided into a greater
number of shares or a dividend in Common Stock shall be paid in respect of Common Stock, the Exercise Price in effect immediately
prior to such subdivision or at the record date of such dividend shall, simultaneously with the effectiveness of such subdivision
or immediately after the record date of such dividend, be proportionately reduced and the number of Warrant Stock issuable upon
exercise of the Warrant shall be proportionately increased. If the outstanding shares of Common Stock shall be combined into a
smaller number of shares, the Exercise Price in effect immediately prior to such combination shall, simultaneously with the effectiveness
of such combination, be proportionately increased and the number of shares of Warrant Stock issuable upon exercise of the Warrant
shall be proportionately decreased.

 

    	 

    	 

    

 

(b)          Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company effects any merger or consolidation
of the Company with or into another person, (ii) the Company effects any sale of all or substantially all of its assets in one
or a series of related transactions, (iii) any tender offer or exchange offer (whether by the Company or another person) is completed
pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property
or (iv) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property (each, a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Registered Holder shall have the right to receive, for each share of Warrant
Stock that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, the
number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation,
and any additional consideration (the “Alternate Consideration”) receivable as a result of such merger, consolidation
or disposition of assets by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately
prior to such event. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted
to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Registered
Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following
such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the Company or surviving
entity in such Fundamental Transaction shall issue to the Registered Holder a new warrant consistent with the foregoing provisions
and evidencing the Registered Holder’s right to exercise such warrant into Alternate Consideration. The terms of any agreement
pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to
comply with the provisions of this Section 2(b) and insuring that this Warrant (or any such replacement security) will be similarly
adjusted upon any subsequent transaction analogous to a Fundamental Transaction.

 

(c)          Adjustment
Certificate. When any adjustment is required to be made in the Exercise Price pursuant to this Section 2, the Company shall
promptly mail to the Registered Holder a certificate setting forth (i) a brief statement of the facts requiring such adjustment,
(ii) the Exercise Price after such adjustment and (iii) the kind and amount of stock or other securities or property
into which this Warrant shall be exercisable after such adjustment.

 

3.            Transfers.

 

(a)          Unregistered
Security. The holder of this Warrant acknowledges that this Warrant has not been registered under the Securities Act and
agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this Warrant or any Warrant Stock issued
upon its exercise in the absence of (i) an effective registration statement under the Securities Act as to this Warrant or
such Warrant Stock and registration or qualification of this Warrant or such Warrant Stock under any applicable U.S. federal or
state securities law then in effect or (ii) an opinion of counsel, reasonably satisfactory to the Company, that such registration
and qualification are not required.

 

(b)          Transferability.
Subject to the provisions of Section 3(a) hereof, this Warrant and all rights hereunder are transferable, in whole or in part,
to (i) any entity controlling, controlled by or under common control of the Registered Holder, or (ii) to any other proposed transferee
by surrendering the Warrant with a properly executed assignment (in the form of Exhibit B hereto) at the principal office
of the Company.

 

(c)          Warrant
Register. The Company will maintain a register containing the names and addresses of the Registered Holders of this Warrant.
Until any transfer of this Warrant is made in the warrant register, the Company may treat the Registered Holder of this Warrant
as the absolute owner hereof for all purposes; provided, however, that if this Warrant is properly assigned in blank,
the Company may (but shall not be required to) treat the bearer hereof as the absolute owner hereof for all purposes, notwithstanding
any notice to the contrary. Any Registered Holder may change such Registered Holder’s address as shown on the warrant register
by written notice to the Company requesting such change.

 

    	 

    	 

    

 

4.            Redemption.

 

(a)           Redemption
of Warrant. This Warrant may be redeemed, at the option of the Company, at any time after it becomes exercisable and prior
to its expiration, at the office of the Company or, if appointed, the Company’s warrant agent, upon the notice referred to
in Section 4(b) hereof, at the price of $0.01 per share underlying the Warrant (the “Redemption Price”),
in the event that (i) the last closing sale price of the Common Stock has been equal to or greater than $5.00 per share (subject
to adjustments for splits, dividends, recapitalizations and similar events) on each of twenty (20) trading days within any thirty
(30) day trading period ending on the third business day prior to the date on which notice of redemption is given to the holder
and (ii) during each day of the foregoing twenty (20) day trading period and through the date the Company exercises its redemption
rights it must have an effective registration statement with a current prospectus in compliance with Sections 5 and 10 of the Securities
Act on file with the Securities and Exchange Commission pursuant to which the underlying Common Stock may be sold.

 

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

 

(c)           Exercise
After Notice of Redemption. The Warrants may be exercised in accordance with this Warrant at any time after notice of redemption
shall have been given by the Company and prior to the time and date fixed for redemption. On and after the redemption date, the
Registered Holder shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

5.            Termination.
This Warrant (and the right to purchase securities upon exercise hereof) shall terminate at 5:00 p.m., Eastern time, on the Expiration
Date.

 

6.            Notices
of Certain Transactions. In case:

 

(a)          the
Company shall take a record of the holders of its Common Stock (or other stock or securities at the time deliverable upon the exercise
of this Warrant) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any
right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right, to
subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right, or

 

(b)          of
any capital reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation or merger
of the Company, any consolidation or merger of the Company with or into another corporation (other than a consolidation or merger
in which the Company is the surviving entity), or any transfer of all or substantially all of the assets of the Company, or

 

(c)          of
the voluntary or involuntary dissolution, liquidation or winding-up of the Company, or

 

(d)          of
any Fundamental Transaction,

 

    	 

    	 

    

 

 

then, and in each such case, the Company
will mail or cause to be mailed to the Registered Holder of this Warrant a notice specifying, as the case may be, (i) the date
on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character
of such dividend, distribution or right, or (ii) the effective date on which such reorganization, reclassification, consolidation,
merger, transfer, dissolution, liquidation, winding-up or Fundamental Transaction is to take place, and the time, if any is to
be fixed, as of which the holders of record of Common Stock (or such other stock or securities at the time deliverable upon such
reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up) are to be determined.
Failure to send such notice shall not act to invalidate any such transaction.

 

7.          Reservation
of Stock. The Company covenants that at all times it will have authorized, reserve and keep available, solely for the issuance
and delivery upon the exercise of this Warrant, such shares of Warrant Stock and other stock, securities and property, as from
time to time shall be issuable upon the exercise of this Warrant. The Company covenants that all Warrant Stock that may be issued
upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by
this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges in respect
of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). The Company further
covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing
stock certificates to execute and issue the necessary certificates for the shares of Warrant Stock upon the exercise of the purchase
rights under this Warrant by the Registered Holder. The Company will take all such reasonable action as may be necessary to assure
that such Warrant Stock may be issued as provided herein without violation of any applicable law or regulation.

 

8.          Replacement
of Warrants. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation
of this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably
required) in an amount reasonably satisfactory to the Company, or (in the case of mutilation) upon surrender and cancellation of
this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor.

 

9.          Notices.
Any notice required or permitted by this Warrant shall be in writing and shall be deemed duly given upon receipt, when delivered
personally or by courier, overnight delivery service or confirmed facsimile, or 48 hours after being deposited in the regular mail
as certified or registered mail (airmail if sent internationally) with postage prepaid, addressed (a) if to the Registered Holder,
to the address of the Registered Holder most recently furnished in writing to the Company and (b) if to the Company, to the address
set forth on the signature page of this Warrant or as subsequently modified by written notice to the Registered Holder.

 

10.         No
Rights as Stockholder. Until the exercise of this Warrant, the Registered Holder of this Warrant shall not have or exercise
any rights by virtue hereof as a stockholder of the Company.

 

11.         No
Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder. In lieu
of any fractional shares which would otherwise be issuable, the Company shall round the amount of Warrant Stock issuable to the
nearest whole share.

 

12.         Amendment
or Waiver. Any term of this Warrant may be amended or waived upon written consent of the Company and the Registered Holder.

 

13.         Headings.
The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision
of this Warrant.

 

    	 

    	 

    

 

14.           Governing
Law. This Warrant and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall
be governed, construed and interpreted in accordance with the laws of the State of New York, without giving effect to principles
of conflicts of law.

 

15.           Representations
and Covenants of the Registered Holder. This Warrant has been entered into by the Company in reliance upon the following
representations and covenants of the Registered Holder:

 

(a)          Investment
Purpose. The Registered Holder is acquiring the Warrant and the Warrant Stock issuable upon exercise of the Warrant for
its own account, not as a nominee or agent and with no present intention of selling or otherwise distributing any part thereof.

 

(b)          Private
Issue. The Registered Holder understands: (i) that the Warrant is not registered under the Securities Act or qualified
under applicable state securities laws on the ground that the issuance contemplated by this Warrant will be exempt from the registration
and qualifications requirements thereof pursuant to Section 4(2) of the Securities Act and any applicable state securities laws,
and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this Section 15.

 

(c)          Disposition
of Registered Holder’s Rights. In no event will the Registered Holder make a disposition of the Warrant or the Warrant
Stock issuable upon exercise of the Warrant in the absence of (i) an effective registration statement under the Securities
Act as to this Warrant or such Warrant Stock and registration or qualification of this Warrant or such Warrant Stock under any
applicable U.S. federal or state securities law then in effect or (ii) an opinion of counsel, reasonably satisfactory to the
Company, that such registration and qualification are not required. Whenever the restrictions imposed
hereunder shall terminate, as hereinabove provided, the Registered Holder or holder of a share of Common Stock then outstanding
as to which such restrictions have terminated shall be entitled to receive from the Company, without expense to such holder, one
or more new certificates for the Warrant or for such shares of Common Stock not bearing any restrictive legend.

 

(d)          Financial
Risk. The Registered Holder has such business and financial experience as is required
to give it the capacity to protect its own interests in connection with its investment.

 

(e)          Accredited
Investor. The Registered Holder is an “accredited investor” as defined by Rule 501 of Regulation D promulgated
under the Securities Act.

 

[Signature Page Follows]

 

    	 

    	 

    

 

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

 

	 	VRINGO, INC.
	 	 
	 	By: 	 
	 	 	Name: Jonathan Medved 
	 	 	Title: Chief Executive Officer

 

    	 

    	 

    
 

Exhibit A

 

WARRANT EXERCISE FORM

 

The undersigned hereby irrevocably elects
to exercise the within Warrant to the extent of purchasing ______ shares of Common Stock of Vringo, Inc., a Delaware corporation,
and hereby makes payment of $___________ in payment therefore (if a cashless exercise, insert “cashless”), all in accordance
with the terms and conditions of the Warrant dated ________, 2012.

 

Name: ______________________________________

 

Signature: ___________________________________

 

Signature of joint holder (if applicable):
_____________________________________________

 

Date: ___________________

 

INSTRUCTIONS FOR ISSUANCE OF STOCK

 

(if other than to the registered holder
of the within Warrant)

 

Name: ______________________________________

 

Address: _____________________________________________________________________

 

Social Security or Taxpayer Identification
Number of Recipient: _________________________

 

    	 

    	 

    

 

Exhibit B

 

ASSIGNMENT FORM

 

FOR VALUE RECEIVED, _____________________
hereby sells, assigns and transfers unto _______________________ the right to purchase Common Stock of Vringo, Inc., a Delaware
corporation, represented by this Warrant to the extent of shares as to which such right is exercisable and does hereby irrevocably
constitute and appoint ______________________, Attorney, to transfer the same on the books of the Company with full power of substitution
in the premises.

 

	Date:	 	 
	 	 
	Signature: 	 	 
	 	 
	Signature of joint holder (if applicable):

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