Document:

Exhibit 10.3.1

 

Print Name of Investor:                              

Social Security or EIN Number:                

 

SUBSCRIPTION/REGISTRATION RIGHTS AGREEMENT

 

PAXmed Inc. (the “Company”),
and the undersigned hereby agree as follows:

 

1.          Subscription
for Securities.   I (sometimes referred to herein as the “Investor”) hereby subscribe for and
agree to purchase       unit(s) (“Units”), each Unit consisting of one share of the Company’s common stock, par
value $0.001 per share (“Common Stock”) and a warrant (“Warrant”) to purchase one share of the Company’s
Common Stock.   Each Unit is offered at a price of $0.50.   

 

2.          Terms
of the Warrants.   The terms of the Warrants are set forth in the form of Warrant attached hereto as Exhibit
A and on Schedule 1.   

 

3.          Offering
Period; Minimum; Maximum.   The Company is offering (the “Offering”) the Units until the earlier
of (i) the date by which the maximum amount of Units being offered have been sold or (ii) July 31, 2014, unless such latter date
is extended, without notice to the Investor, by the Company in its sole discretion to a date not later than August 31, 2014 (such
earlier date being referred to herein as the “Termination Date”).   The Offering is being conducted
on a “best efforts, no minimum, One Hundred Fifty Thousand (150,000) Units ($75,000) maximum” basis.   The
Company’s officers, directors and affiliates shall be entitled to purchase Units in the Offering on the same terms as other
Investors.

 

4.          Closings.   
The closing (“Closing”) on an Investor’s investment may occur at any time, as determined by the Company, together
with, or separate from, investments by other Investors.   After an initial Closing has occurred and prior to the
Termination Date, the Offering shall continue and the Company shall sell additional Units in an aggregate amount, when combined
with the amounts sold at the initial Closing and any subsequent Closings, of up to $75,000.   Additional Closings
may occur provided that subscriptions have been received and accepted and funds in payment therefor have cleared prior to 5:00
p.m., New York City time, on the Termination Date.      

 

5.          Investor
Delivery of Payment and Documents. 

 

5.1       I
have tendered the full purchase price for the Units by wiring funds in accordance with the instructions set forth in Schedule 1.

 

5.2       I
hereby tender to the Company two manually executed copies of this Subscription/Registration Rights Agreement.

 

5.3       In
the event that a Closing does not take place with respect to any subscription for any reason or if my subscription is otherwise
rejected, all cash proceeds delivered by me in accordance with the foregoing shall be returned to me as soon as practicable, without
interest, offset or deduction.   

 

5.4       In
the event my subscription is accepted and there is a Closing, (i) a copy of a fully executed version of this Agreement will be
delivered to me and (ii) the Common Stock and Warrants comprising the Units for which I am subscribing will be held by the Company’s
general counsel in its vault, unless otherwise instructed by me.

 

6.          Acceptance
or Rejection of Subscription/Registration Rights Agreement.   The Company has the right to reject this subscription
for the Units, in whole or in part, for any reason and at any time prior to a Closing with respect to this subscription, notwithstanding
prior receipt by me of notice

 

    	 

    	 

    

 

of acceptance of my subscription.
The Common Stock and Warrants comprising the Units subscribed for herein will not be deemed issued to or owned by me until two
copies of this Subscription/Registration Rights Agreement have been executed by me and accepted and countersigned by the Company,
and a Closing with respect to my subscription has occurred.

 

7.          Accredited
Investor Status.   

 

7.1       Investor
is either (x) an “accredited investor” as defined by Rule 501 under the Securities Act of 1933, as amended (“Securities
Act”), or (y) a sophisticated non-accredited and has such knowledge and experience in financial and business matters that
Investor is capable of evaluating the merits and risks of Investor’s investment in the Units, of making an informed investment
decision with respect thereto, and has the ability and capacity to protect Investor’s interests. The Investor shall submit
to the Company such further assurances of accredited or sophisticated status as may reasonably be requested by the Company.

 

7.2       In
the event the Investor is not an “accredited investor” as defined by Rule 501 under the Securities Act, the Investor
represents and warrants that he, she or it may only invest in the Offering, subject to the limitation of no more than thirty five
(35) such investors and further represents and warrants that the Investor has the ability to evaluate the risks and merits of the
investment and thus is able to protect his, her or its interests as a result of:

 

(x)      his,
her or its business or financial experience;

 

(y)      the
business or financial experience of his, her or its professional advisors who are unaffiliated with and who are not compensated
by the Company or any affiliate or selling agent of the Company directly or indirectly; and/or

 

(z)      his,
her or its pre-existing business relationship with the Company or its officers, directors or controlling persons.

 

7.3       The
Investor represents and warrants that if he, she or it is not an “accredited investor” as defined by Rule 501, the
investment by such non-accredited investor will not exceed ten percent (10%) of his, her or its net worth.

 

8.          Investor
Representations and Warranties.   I acknowledge, represent and warrant to the Company as follows:

 

8.1       Information
About the Investor.    The Company has no obligation to me other than as set forth in this Agreement.   I
am aware that, except for any rescission rights that may be provided under applicable laws, I am not entitled to cancel, terminate
or revoke this subscription, and any agreements made in connection herewith will survive my death or disability.   In
order to induce the Company to issue and sell the Units to me, I represent and warrant that the information relating to me stated
herein is true and complete as of the date hereof and will be true and complete as of the date on which my purchase of Units becomes
effective.   If, prior to the termination of the Offering, there should be any change in such information or any
of such information becomes incorrect or incomplete, I agree to notify the Company and supply the Company promptly with corrective
information.

 

8.2        Information
About the Company.

 

(a)      I
have been given reasonable opportunity to meet with officers of the Company for the purpose of asking reasonable questions of such
officers concerning the terms and conditions of the Offering and the business and operations of the Company and all such questions
have

 

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been answered to my full
satisfaction. I have also been given an opportunity to obtain any additional relevant information to the extent reasonably available
to the Company.   I have received all information regarding the Company that I have reasonably requested.   I
understand that there is no assurance as to the future performance of the Company or the future value of the securities purchased
by me.

 

8.3       No
Assurances; No General Solicitation.   I have received no representation or warranty from the Company or any
of its officers, directors, employees or agents in respect of my investment in the Company.   I am not participating
in the Offering as a result of or subsequent to:   (i) any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media or broadcast over television, radio or the Internet or (ii) any seminar or
meeting whose attendees have been invited by any general solicitation or general advertising.

 

8.4       Speculative
Investment.   I am aware that my purchase of the Common Stock and Warrants comprising the Units is a speculative
investment.   I acknowledge that I can lose the entire amount of my investment in the Company.   I
have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an
investment in the Common Stock and Warrants and have obtained, in my judgment, sufficient information from the Company to evaluate
the merits and risks of an investment in the Company.   I have not utilized any person as my purchaser representative
(as defined in Regulation D) in connection with evaluating such merits and risks and have relied solely upon my own investigation
in making a decision to invest in the Company. I have been urged to seek independent advice from my professional advisors relating
to the suitability of an investment in the Company in view of my overall financial needs and with respect to the legal and tax
implications of such investment.   I believe that the investment in the Company represented by my purchase of the
Common Stock and Warrants comprising the Units in the Offering is suitable for me based upon my investment objectives and financial
needs, and I have adequate means for providing for my current financial needs and contingencies and have no need for liquidity
with respect to my investment in the Company.   My investment in the Company does not constitute all, or substantially
all, of my investment portfolio.

 

8.5       Restrictions
on Transfer.   I understand that (i) the Common Stock and Warrants (and the shares of Common Stock underlying
such Warrants) have not been registered under the Securities Act or the securities laws of certain states in reliance on specific
exemptions from registration, (ii) no securities administrator of any state or the federal government has recommended or endorsed
this Offering or made any finding or determination relating to the fairness of an investment in the Company and (iii) the Company
is relying on my representations and agreements for the purpose of determining whether this transaction meets the requirements
of the exemptions afforded by the Securities Act and certain state securities laws. I acknowledge that the Common Stock and Warrants
are (and the shares of Common Stock issuable upon exercise thereof, when issued, will be) subject to restrictions on transferability
and may not be resold, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and under
applicable securities laws of certain states or an exemption from such registration is available.   I further acknowledge
that, although the Company has agreed to use commercially reasonable efforts to file a registration statement covering the resale
by me of the Common Stock and shares of Common Stock issuable upon exercise of the Warrants, (i) there is no assurance that the
Company will do so, (ii) such registration statement, if filed, may not be declared effective, (iii) if declared effective, the
Company may not be able to keep it effective until I effect the resale of securities registered thereby and (iv) I will be subject
to any lock-up restrictions as required by any underwriter engaged in connection with such registration statement.   I
understand that each certificate evidencing each of the Common Stock and Warrants (and the shares of Common Stock underlying such
Warrants) will bear the legends substantively similar to that set forth below:

 

“NEITHER THIS SECURITY NOR
ANY SECURITIES THAT MAY BE ACQUIRED UPON CONVERSION OR EXERCISE HEREOF HAS BEEN REGISTERED UNDER THE SECURITIES ACT, OR UNDER THE
SECURITIES LAWS OF ANY STATE AND

 

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MAY NOT BE SOLD, PLEDGED, TRANSFERRED
OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT THERETO UNDER THE SECURITIES ACT AND COMPLIANCE
WITH ANY APPLICABLE STATE SECURITIES LAW, OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT
SUCH REGISTRATION IS NOT REQUIRED.   

 

THE COMPANY’S SUBSCRIPTION/REGISTRATION
RIGHTS AGREEMENT WITH THE HOLDER SETS FORTH THE COMPANY’S OBLIGATIONS TO REGISTER THE RESALE OF THE COMMON STOCK AND SHARES
OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF. A COPY OF SUCH SUBSCRIPTION/REGISTRATION RIGHTS AGREEMENT IS AVAILABLE FOR INSPECTION
AT THE COMPANY’S OFFICE.   SUCH SUBSCRIPTION/REGISTRATION RIGHTS AGREEMENT ALSO CONTAINS CERTAIN RESTRICTIONS
REGARDING THE TRANSFER OF SUCH SECURITIES.”

 

8.6       No
Market for the Common Stock or Warrants.   I am purchasing the Common Stock and Warrants comprising the Units
for my own account for investment and not with a view to, or for sale in connection with, any subsequent distribution of the Common
Stock or Warrants (or the shares of Common Stock underlying such Warrants), nor with any present intention of selling or otherwise
disposing of all or any part of such securities.   I understand that there is currently no market for the Common
Stock or Warrants and there may not be any market for the Common Stock or Warrants (or the Common Stock underlying the Warrants)
in the future.   I agree that (i) the purchase of the Common Stock and Warrants comprising the Units is a long-term
investment and (ii) I may have to bear the economic risk of investment for an indefinite period of time because neither the Common
Stock or Warrants nor the shares of Common Stock underlying such Warrants has been registered under the Securities Act and may
never be registered and cannot be resold, pledged, assigned, or otherwise disposed of unless the securities are subsequently registered
under the Securities Act and under applicable securities laws of certain states or an exemption from such registration is available.   I
understand that the Company is under no obligation to register any of these securities, except as may be set forth in Schedule
1, or to assist me in complying with any exemption from such registration under the Securities Act or any state securities
laws.

 

8.7        Entity
Authority.   

 

(a)        If
the Investor is a corporation, partnership, company, trust, employee benefit plan, individual retirement account, Keogh Plan, or
other tax-exempt entity, it is authorized and qualified to become an investor in the Company and the person signing this Subscription/Registration
Rights Agreement on behalf of such entity has been duly authorized by such entity to do so.

 

(b)        The
undersigned represents and warrants to the Company that (i) if an entity, its principal place of business and executive offices
are located in the State set forth on the Signature Page for Entity Investors and (ii) if an individual, his or her state of residency
is the State set forth on the Signature Page for Individual Investors.

 

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8.8      Accredited
Investor Status for Individuals.   (INVESTORS THAT ARE CORPORATIONS, LIMITED LIABILITY COMPANIES, PARTNERSHIPS,
REVOCABLE TRUSTS, IRREVOCABLE TRUSTS, EMPLOYEE BENEFIT PLAN TRUSTS, INDIVIDUAL RETIREMENT ACCOUNTS OR OTHER ENTITIES SHOULD INITIALLY
IGNORE THE FOLLOWING QUESTIONS IN THIS SECTION 8.8 AND INSTEAD PROCEED TO SECTION 8.10).

 

(a)        I
am an accredited investor within the meaning of Section 2(15) of the Securities Act and Rule 501 promulgated thereunder because
(please check the applicable responses):

 

	 	 ̈	My individual annual income during each of the two most recent years exceeded $200,000 and I reasonably expect my annual income during the current year will exceed $200,000.
	 	 ̈	If I am married, my joint annual income with my spouse during each of the two most recent years exceeded $300,000 and I reasonably expect my joint annual income with my spouse during the current year will exceed $300,000.
	 	 ̈	My individual or joint (together with my spouse) net worth exceeds $1,000,000.   The calculation of net worth excludes (i) the value of my primary residence and (ii) the amount of any indebtedness secured by my primary residence, except to the extent that the lender or lenders have recourse to me personally and the indebtedness exceeds the value of my primary residence.
	 	 ̈	I am an executive officer or director of the Company.

 

(b)        The
aggregate value of my assets is approximately $___________.

 

(c)        My
aggregate liabilities are approximately $___________.

 

(d)        My
current and expected income is:

 

	YEAR	INCOME
	
        2014 (Estimated)

         
	$
	
        2013 (Actual)

         
	$
	2012 (Actual)	$

 

Individual Investors
must sign below and then should skip to Section 8.11.   Each person associated with an Entity Investor who
is required under Section 8.10 to separately complete the questions in this Section 8.8 must sign the below confirmation:

 

I hereby confirm the answers
to Section 8.8 are true and correct in all respects as of the date hereof and will be on the date of the purchase of Securities.   

 

Executed this ____ day of ________,
2014

 

	Signature:	 	 
	 	 	 
	 	 	 
	Print Name:	 	 

 

	Capacity (if signing in connection with an Entity Investor):	 

 

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8.9         Non-Accredited
Investor Status:

 

(a)         For
an individual, please describe your current employment, including the company by which you are employed and its principal business:

	 	 
	 	 
	 	 

 

(b)         For
an individual, please describe any college or graduate degrees held by you:

	 	 
	 	 
	 	 

 

(c)         For
all subscribers, please list types of prior investments:

	 	 
	 	 
	 	 

 

(d)         For
all subscribers, please state whether you have participated in other private placements before:

 

YES     _________          NO     _________

 

 

(e)         If
your answer to question (d) above was “YES”, please indicate frequency of such prior participation in private placements
of:

 

	 	
        Public

        Companies
	
	
        Private

        Companies

	Frequently	
	
	

	Occasionally	
	
	

	Never	
	
	

 

(f)         For
individuals, do you expect your current level of income to significantly decrease in the foreseeable future?

 

YES     _________          NO     _________

 

 

(g)        For
trust, corporate, partnership and other institutional subscribers, do you expect your total assets to significantly decrease in
the foreseeable future?

 

YES     _________          NO     _________

 

(h)       For
all subscribers, do you have any other investments or contingent liabilities which you reasonably anticipate could cause you to
need sudden cash requirements in excess of cash readily available to you?

 

YES     _________          NO     _________

 

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(i)        For
all subscribers, are you familiar with the risk aspects and the non-liquidity of investments such as the Units for which you seek
to purchase?

 

YES     _________          NO     _________

 

(j)        For
all subscribers, do you understand that there is no guarantee of financial return on this investment and that you run the risk
of losing your entire investment?

 

YES     _________          NO     _________

  

(3)        The
Investor may invest in this offering, subject to the limitation of no more than thirty five (35) non-accredited investors and provided
that the Investor has the ability to evaluate the risks and merits of the investment and thus is able to protect his, her or its
interests as a result of: 

 

(a)   his, her or its
business or financial experience; _____

 

(b) the business or financial
experience of his, her or its professional advisors who are unaffiliated with and who are not compensated by the Company or any
affiliate or selling agent of the Company directly or indirectly; and/or _____

 

(c) his, her or its pre-existing
business relationship with the Company or its officers, directors or controlling persons.   _____

 

Please check the line next to the representation
applicable to you above.

 

(4)        (a)
The Investor understands that the investment will not exceed ten percent (10%) of his, her or its net worth.   The
value of a non-accredited investor's home, furnishings and automobiles shall not be included in calculating the net worth of a
non-accredited investor.   

 

			Is the statement above accurate?

 

	 	YES	NO

 

(b)   The undersigned
has such knowledge and experience in financial, investment and business matters that he/she/it is capable of evaluating the merits
and risks of any investments.

 

	 	YES	NO

 

(c)   The undersigned
is using a financial advisor, planner, or consultant, or some other advisor who has such knowledge and experience in financial
and business matters that he/she/it is capable of evaluating the merits and risks of any investments. (If this is checked, please
fill out the information below)

 

	 	YES	NO

 

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The name and contact information for
this advisor is as follows:

 

Name: _____________________________________________

 

Address: ___________________________________________

 

___________________________________________

 

Phone: ___________________________________________

 

Telephone number: ______________________________________

 

Email address (if available): _______________________________

 

(d)   PRIMARY SOURCE
OF INCOME:

 

_____ Investments

_____ Compensation

 

(e)   PRIOR
INVESTMENT EXPERIENCE; please check all that apply:

 

The undersigned has experience as an
investor in:

 

_____ Stocks which
are listed on a national securities exchange.

_____ Mutual funds
which hold a portfolio primarily consisting of stocks.

_____ Taxable bonds
or other debt instruments.

_____ Tax exempt
bonds.

_____ Partnerships,
limited liability companies, corporations which invest in real estate or real estate investment trusts (REITs).

_____ Other types
of investments not mentioned in any of the previous categories

 

(please describe):

 

(f)   PORTFOLIO. Please
estimate the percentage of your assets that the undersigned currently has in each category:

 

_____ Stocks (including
mutual funds)

_____ Bonds

_____ Certificates
of Deposit/Loans/Savings Accounts

_____ Principal
Residence

_____ Vacation
Home(s)

_____ Rental Property

_____ Ownership
of business(es) in which you are actively involved

_____ Other

100%

 

(5)      Manner
in which title is to be held: (circle one)

 

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(a)          Individual
Ownership

(b)          Community
Property

(c)          Joint
Tenant with Right of Survivorship (both parties must sign)

(d)          Partnership

(e)          Tenants
in Common

(f)          
Company

(g)          Trust

(h)          
Other

 

I hereby confirm the answers to Section
8.9 are true and correct in all respects as of the date hereof and will be on the date of the purchase of Securities.   

 

Executed this ____ day of ________,
2014

 

	Signature:	 	 
	 	 	 
	Print Name:	 	 

 

	Capacity (if signing in connection with an Entity Investor): 	 

 

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8.10        Accredited
Investor Status for Entities.   (INVESTORS WHO ARE INDIVIDUALS SHOULD IGNORE THESE QUESTIONS.)

 

(a)        The
entity is a (please check the applicable response):

 

		 ̈	Corporation

		 ̈	Limited Liability Company

		 ̈	Partnership

		 ̈	Revocable Trust

		 ̈	Irrevocable Trust (If the Investor is
an Irrevocable Trust, a supplemental questionnaire, which is contained on the page following the Entity Investor signature page
of this Subscription/Registration Rights Agreement, must be completed by the person directing the investment decision for the trust.)

		 ̈	Employee Benefit Plan Trust

		 ̈	Individual Retirement Account (If you
are an IRA, skip (b))

		 ̈	Other (please indicate):   _____________________________

 

(b)        Check
all responses that apply:

 

		 ̈	The Entity was not formed
for the specific purpose of investing in the Company.

		 ̈	The Entity has total assets in excess
of $5 million.

		 ̈	For Employee Benefit Plan Trusts Only:   The
decision to invest in the Company was made by a plan fiduciary, as defined in Section 3(21) of ERISA, who is either a bank, insurance
company or registered investment advisor.

 

(c)        If
you did not check the first two of the three boxes in Question (b)   or if the Entity is an Individual Retirement
Account or a Self-directed Employee Benefit Plan Trust, list the name of each person who:

 

(i)   owns
an equity interest in the Entity (i.e., each shareholder if the Entity is a corporation, each member if the Entity is a limited
liability company and each partner if the Entity is a partnership); or

 

(ii)  is
a grantor for the revocable trust or Individual Retirement Account; or

 

(iii) is
the person making the investment decision for a self-directed Employee Benefit Plan Trust.

 

	 	___________________________	 	__________________________
	 	 	 	 
	 	___________________________	 	__________________________

 

EACH PERSON LISTED ABOVE MUST SEPARATELY
COMPLETE AND SUBMIT TO THE COMPANY THE ANSWERS TO QUESTION 8.8 AND SIGN THE WRITTEN 

CONFIRMATION AT THE END OF SECTION 8.8.

 

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8.11         No
Offer Until Determination of Suitability.    I acknowledge that any delivery to me of the documents relating to the offering of
the Units prior to the determination by the Company of my suitability will not constitute an offer of the Units until such determination
of suitability is made.

 

8.12         For
Florida Residents.   The Common Stock and Warrants comprising the Units (and the underlying shares of Common Stock) have not
been registered under the Securities Act or the Florida Securities Act, by reason of specific exemptions thereunder relating to
the limited availability of the Offering. Neither the Common Stock or Warrants nor the shares of Common Stock underlying the Warrants
can be sold, transferred, or otherwise disposed of to any person or entity unless subsequently registered under the Securities
Act or the Securities Act of Florida, if such registration is required. Pursuant to Section 517.061(11) of the Florida Securities
Act, when sales are made to five (5) or more persons in Florida, any sale made pursuant to Subsection 517.061(11) of the Florida
Securities Act will be voidable by such Florida purchaser either within three days after the first tender of consideration is made
by the purchaser to the issuer, an agent of the issuer, or an escrow agent. In addition, as required by Section 517.061(11)(a)(3)
of the Florida Statutes and by Rule 69W-500.005 thereunder, if I am a Florida resident I may have, at the offices of the Company,
at any reasonable hour, after reasonable notice, access to certain prescribed materials and an opportunity to question the appropriate
executive officers of the Company.

 

9.          Company
Representations and Warranties. The Company hereby represents and warrants to the Investor that (i) it has all necessary
corporate power and authority to enter into this Agreement and to consummate the transactions contemplated hereby and thereby;
(ii) all corporate action necessary to be taken by the Company to authorize the execution, delivery and performance of this Agreement
and all other agreements and instruments delivered by the Company in connection with the transactions contemplated hereby and thereby
has been duly and validly taken and this Agreement has been duly executed and delivered by the Company; (iii) subject to the terms
and conditions of this Agreement, this Agreement constitutes the valid, binding and enforceable obligation of the Company, enforceable
in accordance with its terms, except as enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent transfer or similar laws of general application now or hereafter in effect affecting the rights and remedies
of creditors and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity),
and (b) the applicability of the federal and state securities laws and public policy as to the enforceability of the indemnification
provisions of this Agreement; (iv) the sale by the Company of the Common Stock and Warrants comprising the Units does not conflict
with the certificate of incorporation or by-laws of the Company or any material contract by which the Company or its property is
bound, or any federal or state laws or regulations or decree, ruling or judgment of any United States or state court applicable
to the Company or its property; and (v) the sale of the Units will not trigger any pre-emptive or, to the knowledge of the Company,
other rights held by any party and no governmental or regulatory consent is required for the consummation of the transactions contemplated
by this Agreement.

 

10.         Indemnification.
I hereby agree to indemnify and hold harmless the Company, its officers, directors, stockholders, employees, agents, and attorneys
against any and all losses, claims, demands, liabilities, and expenses (including reasonable legal or other expenses incurred by
each such person in connection with defending or investigating any such claims or liabilities, whether or not resulting in any
liability to such person or whether incurred by the indemnified party in any action or proceeding between the indemnitor and indemnified
party or between the indemnified party and any third party) to which any such indemnified party may become subject, insofar as
such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged untrue
statement of a material fact made by me and contained herein, or (b) arise out of or are based upon any breach by me of any representation,
warranty, or agreement made by me contained herein.

 

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11.         Severability;
Remedies. In the event any parts of this Subscription/Registration Rights Agreement are found to be void, the remaining
provisions of this Subscription/Registration Rights Agreement are nevertheless binding with the same effect as though the void
parts were deleted.

 

12.         Governing
Law and Jurisdiction. This Subscription/Registration Rights Agreement will be deemed to have been made and delivered in
New York City and will be governed as to validity, interpretation, construction, effect and in all other respects by the internal
law of the State of New York. Each of the Company and the Investor hereby (i) agrees that any legal suit, action or proceeding
arising out of or relating to this Subscription/Registration Rights Agreement will be instituted exclusively in New York State
Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, (ii) waives any
objection to the venue of any such suit, action or proceeding and the right to assert that such forum is not a convenient forum
for such suit, action or proceeding, (iii) irrevocably consents to the jurisdiction of the New York State Supreme Court, County
of New York, and the United States District Court for the Southern District of New York in any such suit, action or proceeding,
(iv) agrees to accept and acknowledge service of any and all process that may be served in any such suit, action or proceeding
in New York State Supreme Court, County of New York or in the United States District Court for the Southern District of New York
and (v) agrees that service of process upon it mailed by certified mail to its address set forth on my signature page will be deemed
in every respect effective service of process upon it in any suit, action or proceeding.

 

13.         Counterparts.
This Subscription/Registration Rights Agreement may be executed in one or more counterparts, each of which will be deemed an original
but all of which together will constitute one and the same instrument. The execution of this Subscription/Registration Rights Agreement
may be by actual or facsimile signature.

 

14.         Benefit.
This Subscription/Registration Rights Agreement is binding upon and inures to the benefit of the parties hereto and their respective
heirs, executors, personal representatives, successors and assigns.

 

15.         Notices.   All notices, offers, acceptance and any other acts under this Subscription/Registration Rights Agreement (except payment) must
be in writing, and are sufficiently given if delivered to the addressees in person, by overnight courier service, or, if mailed,
postage prepaid, by certified mail (return receipt requested), and will be effective three days after being placed in the mail
if mailed, or upon receipt or refusal of receipt, if delivered personally or by courier or confirmed telecopy, in each case addressed
to a party. All communications to me should be sent to my preferred address on the signature page hereto. All communications to
the Company should be sent to the addresses set forth on Schedule 1. Each party may designate another address by notice
to the other parties.

 

16.         Oral
Evidence. This Subscription/Registration Rights Agreement constitutes the entire agreement between the parties with respect
to the subject matter hereof and supersedes all prior oral and written agreements between the parties hereto with respect to the
subject matter hereof. This Subscription/Registration Rights Agreement may not be changed, waived, discharged, or terminated orally,
but rather, only by a statement in writing signed by the party or parties against which enforcement or the change, waiver, discharge
or termination is sought.

 

17.         Section
Headings. Section headings herein have been inserted for reference only and will not be deemed to limit or otherwise affect,
in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Subscription/Registration
Rights Agreement.

 

18.         Survival
of Representations, Warranties and Agreements. The representations, warranties and agreements contained herein will survive
the delivery of, and the payment for, the Units.

 

    	12

    	 

    

  

19.         Acceptance
of Subscription.   The Company may accept this Subscription/Registration Rights Agreement at any time for all or any portion
of the Common Stock and Warrants comprising the Units subscribed for by executing a copy hereof as provided and notifying me within
a reasonable time thereafter.

 

    	13

    	 

    

 

 

SIGNATURE PAGE FOR INDIVIDUAL
INVESTORS - COMPLETE ALL INFORMATION

 

	Name: 	 	 	Name of Joint Investor (if any):	 

 

	Residence Address: 	 

 

Telephone: (H) ___________________ (W) _____________________
Fax ______________________________

 

Occupation: __________________________ Employer:
_______________________________________________________

 

	Business Address:	 

 

	Send communications to:  	 ̈	Home	 ̈	Office	 ̈	E-Mail:
	 	 	 	 	 	 	E-mail address: _________________

 

	Age:  	 	 	Social Security Number: 	 

 

Check manner in which securities are to be
held:

 

	 	Individual	 	Tenants in	 	Joint Tenants with Right of Survivorship
	 ̈	Ownership	 ̈	Common	 ̈	(both parties must sign)
	 	 	 	 	 	 
	 ̈	Community Property	 	 	 ̈	Other (please indicate):___________

 

The foregoing subscription is accepted and
the Company hereby agrees to be bound by its terms.

 

	
         

        INVESTOR MUST SIGN AND
        PRINT NAME BELOW:
	
         

        The foregoing subscription is accepted and
        the Company hereby agrees to be bound by its terms.

	Signature:________________________	
         

        PAXMED INC.

	Print
    Name:                           	 
	Signature:________________________	
         

        By:                                                                        

	Print Name:_______________________	
        Name:

        Title:

        Date:

 

    	14

    	 

    

  

SIGNATURE PAGE FOR ENTITY INVESTORS
- COMPLETE ALL INFORMATION

 

Name of Entity: _____________________________________________________________________

 

Address of Principal Office: ____________________________________________________________

  

Telephone: ___________________           Fax: ___________________

 

Taxpayer Identification Number: ______________________

 

Check type of Entity:

 

	 	Employee Benefit	 	Limited	 	General	 	 Individual Retirement
	 ̈	Plan Trust	 ̈	Partnership	 ̈   	Partnership	 ̈   	Account
	 	 	 	 	 	 	 	 
	 	Limited Liability	 	 	 	 	 	  Other (please indicate)
	 ̈	Company	 ̈	Trust	 ̈   	Corporation	 	 

 

Date of Formation or incorporation: ___________
State of Formation or incorporation: _____________________

 

Describe the business of the Entity: _________________________________________________________

 

	 	 

 

List the names and positions of the executive
officers, managing members, partners or trustees authorized to act with respect to investments by the Entity generally and specify
who has the authority to act with respect to this investment.

 

	
         Name
	
         Position
	
        

        Authority for this investment

	
         

         
	
         

         
	
         

         

	
         

         
	
         

         
	
         

         

	
         

         
	
         

         
	
         

         

	
         

         
	
         

         
	
         

         

 

	
         INVESTOR:

         

        ___________________________

        Signature of Authorized Signatory

        Name:

        Title:

        Date:

         
	
        

        The foregoing subscription is accepted and
        the Company hereby agrees to be bound by its terms.

         

        PAXMED INC.

         

        By: _______________________________

        Name: Lishan Aklog

        Title: Chairman & CEO

        Date: September 9, 2014

 

    	15

    	 

    

  

SUPPLEMENTAL QUESTIONNAIRE FOR IRREVOCABLE
TRUSTS

 

This Supplemental Questionnaire must be
completed by the person directing the investment decision for an irrevocable trust. No other person needs to complete this Supplemental
Questionnaire.

 

Please respond to the following questions,
supplying as much detail as possible in order to make your answers complete:

 

1.         Name
of Trustee (“Trustee”) who is directing the decision for the Trust to invest in the Company ________________________.
The remaining questions should be answered by the Trustee.

 

2.         Does
the Trustee have sufficient knowledge and experience in financial and business matters to enable it to evaluate the merits and
risks of an investment in the Company?

 

	 	Yes          	No           

 

3.          During
the last three years, the Trustee has made the following investments:

 

	
         

        Year
	
         

        Nature of Investment
	
         

        Amount

	 	 	
         

         

	 	 	
         

         

	 	 	
         

         

	 	 	
         

         

 

4.          Please
list all the educational institutions the Trustee has attended (including high schools, colleges, and specialized training schools),
and indicate the dates attended and the degree(s) (if any) obtained from each.

 

	
         

        From
	
         

        To
	
         

        Institution
	
         

        Degree

	
         

         
	 	 	 
	
         

         
	 	 	 
	
         

         
	 	 	 

 

5.          Please
list any professional licenses the Trustee has.

 

	 	 

 

    	16

    	 

    

  

6.          Indicate
the Trustee’s principal business experience or occupation during the last three years. (Please list present, or most recent,
position first and the others in reverse chronological order).

 

	
         

        From
	
         

        To
	
         

        Name of Employer
	
         

        Position

	
         

         
	 	 	 
	
         

         
	 	 	 
	
         

         
	 	 	 

 

7.          Indicate
by check mark which of the following categories best describes the extent of the Trustee’s prior experience in the areas
of investment listed below:

 

	
         

         
	
         

        Substantial Experience

        or Knowledge
	No Experience
	
         

        Marketable securities
	 	 
	
         

        Government securities
	 	 
	
         

        Municipal (tax-exempt) securities
	 	 
	
         

        Commodities
	 	 
	
         

        Options (stock or commodities)
	 	 
	
         

        Securities for which no market exists
	 	 
	
         

        Limited partnerships
	 	 
	
         

        Real estate or oil and gas programs
	 	 
	
         

        Tax deferred investment generally
	 	 

 

8.          Does
the Trustee make his own investment decisions with respect to investments?

 

____ Always        ____
Frequently

____ Usually        ____  Rarely

 

    	17

    	 

    

 

9.          What is the Trustee’s principal sources of investment knowledge or advice? (The Trustee may check more than one).

 

_____   Firsthand experience
with industry

_____   Financial publication(s)

_____   Trade or industry publication(s)

_____   Banker(s)

_____   Broker(s)

_____   Investment Advisor(s)

_____   Attorney(s)

_____   Accountant(s)

 

10.         Please
provide in the space below any additional information which would indicate that the Trustee has sufficient knowledge and experience
in financial and business matters so that the Trustee are capable of evaluating the merits and risks of investing in restricted
securities for which no market exists, such as those being offered by the Company.

	 
	 
	 
	 

 

    	18

    	 

    

 

SCHEDULE 1

 

1.          Wiring
Instructions.    Wiring instructions for the Company are as follows:

 

2.          Warrants.
   If the Company consummates an initial public offering (“IPO”) of its securities (which include warrants to purchase
shares of Common Stock of the Company), the Warrants shall automatically, and without any action on the part of the Investor, convert
into the same form of warrant sold in the IPO (“IPO Warrants”). The exercise price of the IPO Warrants may be higher
and the exercise period may be shorter than the Warrants being sold in this offering. The number of shares of Common Stock underlying
the Warrants shall remain the same.

 

3.          Registration
Rights.    The Company agrees to use commercially reasonable efforts to include for resale the shares of Common Stock included
in the Units, the IPO Warrants into which the Warrants being sold in this offering convert and shares of Common Stock issuable
upon exercise of the IPO Warrants in a registration statement on Form S-1 (the “Registration Statement”) to
be filed in connection with the Company’s initial public offering, subject to the applicable rules and regulations of the
U.S. Securities and Exchange Commission and the Investor agreeing to the terms of any lock-up restrictions imposed by the underwriters
engaged in connection with any such Registration Statement.

 

4.          Notices.   All communications to the Company should be sent to:

 

PAXmed Inc.

420 Lexington Avenue, Suite 300

New York, New York 10170

Attn: Lishan Aklog

Tel: 602-361-6005

Fax: 602-391-2637

 

with copies to:

 

Graubard Miller

405 Lexington Avenue, 11th
Floor

New York, New York 10174

Attn: David Alan Miller, Esq.

Tel:(212) 818-8661

Fax: (212) 818-8881

 

    	1Exhibit 10.3.2

 

Print Name of Investor: ________________

 

Social Security or EIN Number: __________

 

SUBSCRIPTION/REGISTRATION RIGHTS AGREEMENT

 

PAXmed Inc. (the
“Company”), and the undersigned hereby agree as follows:

1.          Subscription
for Securities. I (sometimes referred to herein as the “Investor”) hereby subscribe for and agree to purchase
_____ unit(s) (“Units”), each Unit consisting of one share of the Company’s common stock, par value $0.001
per share (“Common Stock”) and a warrant (“Warrant”) to purchase one share of the Company’s Common
Stock. Each Unit is offered at a price of $1.00.

2.          Terms
of the Warrants. The terms of the Warrants are set forth in the form of Warrant attached hereto as Exhibit A and
on Schedule 1.

3.          Offering
and Offering Period. The Company is offering (the “Offering”) the Units on an “any and all, $300,000
maximum” basis. Accordingly, there is no minimum amount that needs to be subscribed for in order for the Company to hold
a Closing (defined below). Investor could be the only subscriber for Units in the Offering. Additionally, the Company may increase
the maximum amount to be raised at any time without notice to the Investor. To the extent the Company raises the maximum amount
pursuant to the preceding sentence, all references in this Subscription/Registration Rights Agreement to the “$300,000 maximum”
amount shall be deemed to refer to such raised amount.

4.          Closing(s).
The closing (“Closing”) on an Investor’s investment may occur at any time, as determined by the Company, together
with, or separate from, investments by other Investors, if there are any. The Company may accept this Subscription Agreement and
have a Closing for all or any portion of the Units subscribed for by executing a copy hereof as provided and notifying Investor
of such acceptance. The Company may hold additional closings up until it accepts subscriptions for the $300,000 maximum amount
of Units. In connection with any closing, the Company may pay a commission to a broker-dealer on subscriptions the Company accepts.
As a result, the net proceeds to be received by the Company may be less than the full subscription amounts received. In the event
a commission will be paid on an Investor’s investment, the Company will notify such Investor prior to the Closing on such
Investor’s investment.

5.          Investor
Delivery of Payment and Documents. 

5.1          I have tendered
the full purchase price for the Units by wiring funds in accordance with the instructions set forth in Schedule 1.

5.2          I hereby
tender to the Company two manually executed copies of this Subscription/Registration Rights Agreement.

5.3          In the event
that a Closing does not take place with respect to any subscription for any reason or if my subscription is otherwise rejected,
all cash proceeds delivered by me in accordance with the foregoing shall be returned to me as soon as practicable, without interest,
offset or deduction.

5.4          In the event
my subscription is accepted and there is a Closing, (i) a copy of a fully executed version of this Agreement will be delivered
to me and (ii) the Common Stock and Warrants comprising the Units for which I am subscribing will be held by the Company’s
general counsel in its vault, unless otherwise instructed by me.

 

    	 

    	 

    

 

6.          Acceptance
or Rejection of Subscription/Registration Rights Agreement. The Company has the right to reject this subscription for the
Units, in whole or in part, for any reason and at any time with respect to this subscription, notwithstanding prior receipt by
me of notice of acceptance of my subscription. The Common Stock and Warrants comprising the Units subscribed for herein will not
be deemed issued to or owned by me until two copies of this Subscription/Registration Rights Agreement have been executed by me
and accepted and countersigned by the Company, and a Closing with respect to my subscription has occurred.

7.          Accredited
Investor Status. The Offering is limited to “accredited investors” as defined by Rule 501(a) under the Securities
Act of 1933, as amended (“Securities Act”), and is being made without registration under the Securities Act in reliance
upon the exemptions contained in Section 4(a)(2) of the Securities Act and applicable state securities laws.

8.          Investor
Representations and Warranties. I acknowledge, represent and warrant to the Company as follows:

8.1        Information
About the Investor. The Company has no obligation to me other than as set forth in this Agreement. I am aware that, except
for any rescission rights that may be provided under applicable laws, I am not entitled to cancel, terminate or revoke this subscription,
and any agreements made in connection herewith will survive my death or disability. In order to induce the Company to issue and
sell the Units to me, I represent and warrant that the information relating to me stated herein is true and complete as of the
date hereof and will be true and complete as of the date on which my purchase of Units becomes effective. If, prior to the termination
of the Offering, there should be any change in such information or any of such information becomes incorrect or incomplete, I agree
to notify the Company and supply the Company promptly with corrective information.

8.2        Information
About the Company.

(a)          I have
been given reasonable opportunity to meet with officers of the Company for the purpose of asking reasonable questions of such officers
concerning the terms and conditions of the Offering and the business and operations of the Company and all such questions have
been answered to my full satisfaction. I have also been given an opportunity to obtain any additional relevant information to the
extent reasonably available to the Company. I have received all information regarding the Company that I have reasonably requested.
I understand that there is no assurance as to the future performance of the Company or the future value of the securities purchased
by me. The only representations I am relying on in making my investment hereunder is contained in this Subscription/Registration
Rights Agreement.

8.3        No Assurances;
No General Solicitation. I have received no representation or warranty from the Company or any of its officers, directors,
employees or agents in respect of my investment in the Company. I am not participating in the Offering as a result of or subsequent
to: (i) any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast
over television, radio or the Internet or (ii) any seminar or meeting whose attendees have been invited by any general solicitation
or general advertising.

8.4        Speculative
Investment. I am aware that my purchase of the Common Stock and Warrants comprising the Units is a speculative investment.
I acknowledge that I can lose the entire amount of my investment in the Company. I have such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of an investment in the Common Stock and Warrants and
have obtained, in my judgment, sufficient information from the Company to evaluate the merits and risks of an investment in the
Company. I have not utilized any person as my purchaser representative (as defined in Regulation D) in connection with evaluating
such merits and risks and have relied solely upon my own

 

    	2

    	 

    

 

investigation in
making a decision to invest in the Company. I have been urged to seek independent advice from my professional advisors relating
to the suitability of an investment in the Company in view of my overall financial needs and with respect to the legal and tax
implications of such investment. I believe that the investment in the Company represented by my purchase of the Common Stock and
Warrants comprising the Units in the Offering is suitable for me based upon my investment objectives and financial needs, and I
have adequate means for providing for my current financial needs and contingencies and have no need for liquidity with respect
to my investment in the Company. My investment in the Company does not constitute all, or substantially all, of my investment portfolio.

8.5          Restrictions
on Transfer. I understand that (i) the Common Stock and Warrants (and the shares of Common Stock underlying such Warrants)
have not been registered under the Securities Act or the securities laws of certain states in reliance on specific exemptions from
registration, (ii) no securities administrator of any state or the federal government has recommended or endorsed this Offering
or made any finding or determination relating to the fairness of an investment in the Company and (iii) the Company is relying
on my representations and agreements for the purpose of determining whether this transaction meets the requirements of the exemptions
afforded by the Securities Act and certain state securities laws. I acknowledge that the Common Stock and Warrants are (and the
shares of Common Stock issuable upon exercise thereof, when issued, will be) subject to restrictions on transferability and may
not be resold, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and under applicable
securities laws of certain states or an exemption from such registration is available. I further acknowledge that, although the
Company has agreed to use commercially reasonable efforts to file a registration statement covering the resale by me of the Common
Stock and shares of Common Stock issuable upon exercise of the Warrants, (i) there is no assurance that the Company will do so,
(ii) such registration statement, if filed, may not be declared effective, (iii) if declared effective, the Company may not be
able to keep it effective until I effect the resale of securities registered thereby and (iv) I will be subject to any lock-up
restrictions as required by any underwriter engaged in connection with such registration statement. I understand that each certificate
evidencing each of the Common Stock and Warrants (and the shares of Common Stock underlying such Warrants) will bear the legends
substantively similar to that set forth below:

“NEITHER THIS SECURITY NOR
ANY SECURITIES THAT MAY BE ACQUIRED UPON CONVERSION OR EXERCISE HEREOF HAS BEEN REGISTERED UNDER THE SECURITIES ACT, OR UNDER THE
SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, PLEDGED, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT WITH RESPECT THERETO UNDER THE SECURITIES ACT AND COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAW, OR UNLESS THE
COMPANY RECEIVES AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.

THE COMPANY’S SUBSCRIPTION/REGISTRATION
RIGHTS AGREEMENT WITH THE HOLDER SETS FORTH THE COMPANY’S OBLIGATIONS TO REGISTER THE RESALE OF THE COMMON STOCK AND SHARES
OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF. A COPY OF SUCH SUBSCRIPTION/REGISTRATION RIGHTS AGREEMENT IS AVAILABLE FOR INSPECTION
AT THE COMPANY’S OFFICE. SUCH SUBSCRIPTION/REGISTRATION RIGHTS AGREEMENT ALSO CONTAINS CERTAIN RESTRICTIONS REGARDING THE
TRANSFER OF SUCH SECURITIES.”

8.6          No Market
for the Common Stock or Warrants. I am purchasing the Common Stock and Warrants comprising the Units for my own account for
investment and not with a view to, or for sale in connection with, any subsequent distribution of the Common Stock or Warrants
(or the shares of

 

    	3

    	 

    

 

Common Stock underlying
such Warrants), nor with any present intention of selling or otherwise disposing of all or any part of such securities. I understand
that there is currently no market for the Common Stock or Warrants and there may not be any market for the Common Stock or Warrants
(or the Common Stock underlying the Warrants) in the future. I agree that (i) the purchase of the Common Stock and Warrants comprising
the Units is a long-term investment and (ii) I may have to bear the economic risk of investment for an indefinite period of time
because neither the Common Stock or Warrants nor the shares of Common Stock underlying such Warrants has been registered under
the Securities Act and may never be registered and cannot be resold, pledged, assigned, or otherwise disposed of unless the securities
are subsequently registered under the Securities Act and under applicable securities laws of certain states or an exemption from
such registration is available. I understand that the Company is under no obligation to register any of these securities, except
as may be set forth in Schedule 1, or to assist me in complying with any exemption from such registration under the Securities
Act or any state securities laws.

8.7        Entity
Authority.

(a)          If the
Investor is a corporation, partnership, company, trust, employee benefit plan, individual retirement account, Keogh Plan, or other
tax-exempt entity, it is authorized and qualified to become an investor in the Company and the person signing this Subscription/Registration
Rights Agreement on behalf of such entity has been duly authorized by such entity to do so.

(b)          The undersigned
represents and warrants to the Company that (i) if an entity, its principal place of business and executive offices are located
in the State set forth on the Signature Page for Entity Investors and (ii) if an individual, his or her state of residency is the
State set forth on the Signature Page for Individual Investors.

 

    	4

    	 

    

 

8.8        Accredited
Investor Status for Individuals. (INVESTORS THAT ARE CORPORATIONS, LIMITED LIABILITY COMPANIES, PARTNERSHIPS, REVOCABLE TRUSTS,
IRREVOCABLE TRUSTS, EMPLOYEE BENEFIT PLAN TRUSTS, INDIVIDUAL RETIREMENT ACCOUNTS OR OTHER ENTITIES SHOULD INITIALLY IGNORE THE
FOLLOWING QUESTIONS IN THIS SECTION 8.8 AND INSTEAD PROCEED TO SECTION 8.9).

(a)          I am an
accredited investor within the meaning of Section 2(15) of the Securities Act and Rule 501 promulgated thereunder because (please
check the applicable responses):

 

	 ̈	My individual annual income during each of the two most recent years exceeded $200,000 and I reasonably expect my annual income during the current year will exceed $200,000.
	 ̈	If I am married, my joint annual income with my spouse during each of the two most recent years exceeded $300,000 and I reasonably expect my joint annual income with my spouse during the current year will exceed $300,000.
	 ̈	My individual or joint (together with my spouse) net worth exceeds $1,000,000.  The calculation of net worth excludes (i) the value of my primary residence and (ii) the amount of any indebtedness secured by my primary residence, except to the extent that the lender or lenders have recourse to me personally and the indebtedness exceeds the value of my primary residence.
	 ̈	I am an executive officer or director of the Company.

(b)          The aggregate
value of my assets is approximately $___________.

(c)          My aggregate
liabilities are approximately $___________.

(d)          My current
and expected income is:

	YEAR	INCOME
	
        2014 (Estimated)

         
	$
	
        2013 (Actual)

         
	$
	2012 (Actual)	$

Individual Investors
must sign below and then should skip to Section 8.11. Each person associated with an Entity Investor who is required under
Section 8.10 to separately complete the questions in this Section 8.8 must sign the below confirmation:

 

I hereby confirm
the answers to Section 8.8 are true and correct in all respects as of the date hereof and will be on the date of the purchase
of Securities.

Executed this ____ day of ________,
2014

 

Signature:             ________________________

Print Name:          ________________________

Capacity (if signing in connection with
an Entity Investor: ____________________________________________

 

    	5

    	 

    

 

8.9        Accredited
Investor Status for Entities. (INVESTORS WHO ARE INDIVIDUALS SHOULD IGNORE THESE QUESTIONS.)

(a)         The entity
is a (please check the applicable response):

		 ̈	Corporation

		 ̈	Limited Liability Company

		 ̈	Partnership

		 ̈	Revocable Trust

		 ̈	Irrevocable Trust (If the Investor is
an Irrevocable Trust, a supplemental questionnaire, which is contained on the page following the Entity Investor signature page
of this Subscription/Registration Rights Agreement, must be completed by the person directing the investment decision for the trust.)

		 ̈	Employee Benefit Plan Trust

		 ̈	Individual Retirement Account (If you
are an IRA, skip (b))

		 ̈	Other (please indicate): _____________________________

(b)         Check all
responses that apply:

		 ̈	The Entity was not formed
for the specific purpose of investing in the Company.

		 ̈	The Entity has total assets in excess
of $5 million.

		 ̈	For Employee Benefit Plan Trusts Only:
The decision to invest in the Company was made by a plan fiduciary, as defined in Section 3(21) of ERISA, who is either a bank,
insurance company or registered investment advisor.

(c)         If you did
not check the first two of the three boxes in Question (b) or if the Entity is an Individual Retirement Account or
a Self-directed Employee Benefit Plan Trust, list the name of each person who:

		(i)	owns an equity interest in the Entity (i.e., each shareholder if the Entity is a corporation, each
member if the Entity is a limited liability company and each partner if the Entity is a partnership); or

		(ii)	is a grantor for the revocable trust or Individual Retirement Account; or

		(iii)	is the person making the investment decision for a self-directed Employee Benefit Plan Trust.

 

___________________________          __________________________

 

___________________________          __________________________

 

EACH PERSON LISTED ABOVE MUST SEPARATELY
COMPLETE AND SUBMIT TO THE COMPANY THE ANSWERS TO QUESTION 8.8 AND SIGN THE WRITTEN 

CONFIRMATION AT THE END OF SECTION 8.8.

 

    	6

    	 

    

 

8.10          No Offer
Until Determination of Suitability. I acknowledge that any delivery to me of the documents relating to the offering of the
Units prior to the determination by the Company of my suitability will not constitute an offer of the Units until such determination
of suitability is made.

8.11          For Florida
Residents. The Common Stock and Warrants comprising the Units (and the underlying shares of Common Stock) have not been registered
under the Securities Act or the Florida Securities Act, by reason of specific exemptions thereunder relating to the limited availability
of the Offering. Neither the Common Stock or Warrants nor the shares of Common Stock underlying the Warrants can be sold, transferred,
or otherwise disposed of to any person or entity unless subsequently registered under the Securities Act or the Securities Act
of Florida, if such registration is required. Pursuant to Section 517.061(11) of the Florida Securities Act, when sales are made
to five (5) or more persons in Florida, any sale made pursuant to Subsection 517.061(11) of the Florida Securities Act will be
voidable by such Florida purchaser either within three days after the first tender of consideration is made by the purchaser to
the issuer, an agent of the issuer, or an escrow agent. In addition, as required by Section 517.061(11)(a)(3) of the Florida Statutes
and by Rule 69W-500.005 thereunder, if I am a Florida resident I may have, at the offices of the Company, at any reasonable hour,
after reasonable notice, access to certain prescribed materials and an opportunity to question the appropriate executive officers
of the Company.

9.          Company
Representations and Warranties. The Company hereby represents and warrants to the Investor that (i) it has all necessary
corporate power and authority to enter into this Agreement and to consummate the transactions contemplated hereby and thereby;
(ii) all corporate action necessary to be taken by the Company to authorize the execution, delivery and performance of this Agreement
and all other agreements and instruments delivered by the Company in connection with the transactions contemplated hereby and thereby
has been duly and validly taken and this Agreement has been duly executed and delivered by the Company; (iii) subject to the terms
and conditions of this Agreement, this Agreement constitutes the valid, binding and enforceable obligation of the Company, enforceable
in accordance with its terms, except as enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent transfer or similar laws of general application now or hereafter in effect affecting the rights and remedies
of creditors and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity),
and (b) the applicability of the federal and state securities laws and public policy as to the enforceability of the indemnification
provisions of this Agreement; (iv) the sale by the Company of the Common Stock and Warrants comprising the Units does not conflict
with the certificate of incorporation or by-laws of the Company or any material contract by which the Company or its property is
bound, or any federal or state laws or regulations or decree, ruling or judgment of any United States or state court applicable
to the Company or its property; and (v) the sale of the Units will not trigger any pre-emptive or, to the knowledge of the Company,
other rights held by any party and no governmental or regulatory consent is required for the consummation of the transactions contemplated
by this Agreement.

10.          Indemnification.
I hereby agree to indemnify and hold harmless the Company, its officers, directors, stockholders, employees, agents, and attorneys
against any and all losses, claims, demands, liabilities, and expenses (including reasonable legal or other expenses incurred by
each such person in connection with defending or investigating any such claims or liabilities, whether or not resulting in any
liability to such person or whether incurred by the indemnified party in any action or proceeding between the indemnitor and indemnified
party or between the indemnified party and any third party) to which any such indemnified party may become subject, insofar as
such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged untrue
statement of a material fact made by me and contained herein, or (b) arise out of or are based upon any breach by me of any representation,
warranty, or agreement made by me contained herein.

 

    	7

    	 

    

 

11.          Severability;
Remedies. In the event any parts of this Subscription/Registration Rights Agreement are found to be void, the remaining
provisions of this Subscription/Registration Rights Agreement are nevertheless binding with the same effect as though the void
parts were deleted.

12.          Governing
Law and Jurisdiction. This Subscription/Registration Rights Agreement will be deemed to have been made and delivered in
New York City and will be governed as to validity, interpretation, construction, effect and in all other respects by the internal
law of the State of New York. Each of the Company and the Investor hereby (i) agrees that any legal suit, action or proceeding
arising out of or relating to this Subscription/Registration Rights Agreement will be instituted exclusively in New York State
Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, (ii) waives any
objection to the venue of any such suit, action or proceeding and the right to assert that such forum is not a convenient forum
for such suit, action or proceeding, (iii) irrevocably consents to the jurisdiction of the New York State Supreme Court, County
of New York, and the United States District Court for the Southern District of New York in any such suit, action or proceeding,
(iv) agrees to accept and acknowledge service of any and all process that may be served in any such suit, action or proceeding
in New York State Supreme Court, County of New York or in the United States District Court for the Southern District of New York
and (v) agrees that service of process upon it mailed by certified mail to its address set forth on my signature page will be deemed
in every respect effective service of process upon it in any suit, action or proceeding.

13.          Counterparts.
This Subscription/Registration Rights Agreement may be executed in one or more counterparts, each of which will be deemed an original
but all of which together will constitute one and the same instrument. The execution of this Subscription/Registration Rights Agreement
may be by actual or facsimile signature.

14.          Benefit.
This Subscription/Registration Rights Agreement is binding upon and inures to the benefit of the parties hereto and their respective
heirs, executors, personal representatives, successors and assigns.

15.          Notices.
All notices, offers, acceptance and any other acts under this Subscription/Registration Rights Agreement (except payment) must
be in writing, and are sufficiently given if delivered to the addressees in person, by overnight courier service, or, if mailed,
postage prepaid, by certified mail (return receipt requested), and will be effective three days after being placed in the mail
if mailed, or upon receipt or refusal of receipt, if delivered personally or by courier or confirmed telecopy, in each case addressed
to a party. All communications to me should be sent to my preferred address on the signature page hereto. All communications to
the Company should be sent to the addresses set forth on Schedule 1. Each party may designate another address by notice
to the other parties.

16.          Oral
Evidence. This Subscription/Registration Rights Agreement constitutes the entire agreement between the parties with respect
to the subject matter hereof and supersedes all prior oral and written agreements between the parties hereto with respect to the
subject matter hereof. This Subscription/Registration Rights Agreement may not be changed, waived, discharged, or terminated orally,
but rather, only by a statement in writing signed by the party or parties against which enforcement or the change, waiver, discharge
or termination is sought.

17.          Section
Headings. Section headings herein have been inserted for reference only and will not be deemed to limit or otherwise affect,
in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Subscription/Registration
Rights Agreement.

18.          Survival
of Representations, Warranties and Agreements. The representations, warranties and agreements contained herein will survive
the delivery of, and the payment for, the Units.

 

    	8

    	 

    

 

19.          Acceptance
of Subscription. The Company may accept this Subscription/Registration Rights Agreement at any time for all or any portion
of the Common Stock and Warrants comprising the Units subscribed for by executing a copy hereof as provided and notifying me within
a reasonable time thereafter.

 

    	9

    	 

    

 

SIGNATURE PAGE FOR INDIVIDUAL
INVESTORS - COMPLETE ALL INFORMATION

 

Name: _______________________ Name of Joint
Investor (if any):_______________________________________

 

Residence Address: _____________________________________________________________________________

 

Telephone: (H) ___________________ (W) _____________________
Fax ________________________

 

Occupation: _________________________  Employer:
________________________________________________

 

Business Address: ______________________________________________________________________________

 

Send
communications to:            ̈  
Home           ̈   Office           ̈
E-Mail:

E-mail
address:  __________________________

 

Age: _______________                                                Social Security Number:
_____________________________

 

Check manner in which securities are to be
held:

	
         

                      Individual

         ̈          Ownership
	
         

         Tenants in

         ̈          Common
	
         

        Joint Tenants with Right of 

Survivorship

         ̈
                (both parties must sign)

	
         

         ̈          Community
        Property
	
         

         
	
         

         ̈         Other
        (please indicate):___________

 

The foregoing subscription is accepted and
the Company hereby agrees to be bound by its terms.

 

	
         

        INVESTOR MUST SIGN
        AND PRINT NAME BELOW:
	
         

        The foregoing subscription is accepted
        and the Company hereby agrees to be bound by its terms.

	Signature:________________________	
         

        PAXMED INC.

	Print Name:________________________	 
	Signature:________________________	
         

        By: _____________________________________

	Print Name:_______________________	
        Name:

        Title:

        Date:

 

    	10

    	 

    

 

SIGNATURE PAGE FOR ENTITY INVESTORS
- COMPLETE ALL INFORMATION

 

Name of Entity: __________________________________________________________________ 

Address of Principal Office: ________________________________________________________

Telephone: ___________________ Fax: ___________________

 

Taxpayer Identification Number: ______________________

Check type of Entity:

	 	 	 	 
	 	Employee Benefit	 	Limited	General	  Individual Retirement
	 ̈	Plan Trust	 ̈	Partnership	 ̈  Partnership	 ̈  Account
	 	 	 	 
	 	Limited Liability	 	 	       Other (please indicate)
	 ̈	Company	 ̈	Trust	 ̈ Corporation	                                         

 

Date of Formation or incorporation: ___________   State
of Formation or incorporation: ___________

 

Describe the business of the Entity: _____________________________________________________

 

__________________________________________________________________________________

 

List the names and positions of the executive
officers, managing members, partners or trustees authorized to act with respect to investments by the Entity generally and specify
who has the authority to act with respect to this investment.

 

	
        Name
	
        Position
	
        Authority for this investment

	
         

         
	
         

         
	
         

         

	
         

         
	
         

         
	
         

         

	
         

         
	
         

         
	
         

         

	
         

         
	
         

         
	
         

         

 

	
        INVESTOR:

         

         

         

        ___________________________

        Signature of Authorized Signatory

        Name:

        Title:

        Date:

         
	

The foregoing subscription is accepted and
        the Company hereby agrees to be bound by its terms.

         

        PAXMED INC.

         

         

        By: _____________________________________

        Name:

        Title:

        Date:

 

    	11

    	 

    

SUPPLEMENTAL QUESTIONNAIRE FOR
IRREVOCABLE TRUSTS

This Supplemental Questionnaire
must be completed by the person directing the investment decision for an irrevocable trust. No other person needs to complete this
Supplemental Questionnaire. 

Please respond to the following questions,
supplying as much detail as possible in order to make your answers complete:

1.          Name of
Trustee (“Trustee”) who is directing the decision for the Trust to invest in the Company ________________________.  The
remaining questions should be answered by the Trustee.

2.          Does the
Trustee have sufficient knowledge and experience in financial and business matters to enable it to evaluate the merits and risks
of an investment in the Company?

Yes                  No
      

3.          During the last
three years, the Trustee has made the following investments:

	Year	Nature of Investment	Amount
	 	 	 
	 	 	 
	 	 	 
	 	 	 

4.          Please list
all the educational institutions the Trustee has attended (including high schools, colleges, and specialized training schools),
and indicate the dates attended and the degree(s) (if any) obtained from each.

	From	To	Institution	Degree
	 	 	 	 
	 	 	 	 
	 	 	 	 

5.          Please
list any professional licenses the Trustee has.

 

 

 

 

 

    	12

    	 

    

 

6.          Indicate the
Trustee’s principal business experience or occupation during the last three years. (Please list present, or most recent,
position first and the others in reverse chronological order).

	From	To	Name of Employer	Position
	 	 	 	 
	 	 	 	 
	 	 	 	 

7.          Indicate by
check mark which of the following categories best describes the extent of the Trustee’s prior experience in the areas of
investment listed below:

	 	Substantial Experience 

or Knowledge	No Experience
	Marketable securities	 	 
	Government securities	 	 
	Municipal (tax-exempt) securities	 	 
	Commodities	 	 
	Options (stock or commodities)	 	 
	Securities for which no market exists	 	 
	Limited partnerships	 	 
	Real estate or oil and gas programs	 	 
	Tax deferred investment generally	 	 

8.          Does the
Trustee make his own investment decisions with respect to investments?

            Always                         Frequently

            
Usually                        Rarely

 

    	13

    	 

    

 

9.          What is the
Trustee’s principal sources of investment knowledge or advice? (The Trustee may check more than one).

         
First hand experience with industry

         
Financial publication(s)

         
Trade or industry publication(s)

         
Banker(s)

         
Broker(s)

         
Investment Advisor(s)

         
Attorney(s)

         
Accountant(s)

		10.	Please provide in the space below any additional information which would indicate that the Trustee
has sufficient knowledge and experience in financial and business matters so that the Trustee are capable of evaluating the merits
and risks of investing in restricted securities for which no market exists, such as those being offered by the Company.

 

 

 

 

 

 

 

 

 

    	14

    	 

    

 

SCHEDULE 1

1.          Wiring Instructions.
Wiring instructions for the Company are as follows:

2.          Warrants.
If the Company consummates an initial public offering (“IPO”) of its securities (which include warrants to purchase
shares of Common Stock of the Company), the Warrants shall automatically, and without any action on the part of the Investor, convert
into the same form of warrant sold in the IPO (“IPO Warrants”). The exercise price of the IPO Warrants may be higher
and the exercise period may be shorter than the Warrants being sold in this offering. The number of shares of Common Stock underlying
the Warrants shall remain the same.

3.          Registration
Rights. The Company agrees to use commercially reasonable efforts to include for resale the shares of Common Stock included
in the Units, the IPO Warrants into which the Warrants being sold in this offering convert and shares of Common Stock issuable
upon exercise of the IPO Warrants in a registration statement on Form S-1 (the “Registration Statement”) to
be filed in connection with the Company’s initial public offering, subject to the applicable rules and regulations of the
U.S. Securities and Exchange Commission and the Investor agreeing to the terms of any lock-up restrictions imposed by the underwriters
engaged in connection with any such Registration Statement.

4.          Notices. All communications
to the Company should be sent to:

 

PAXmed Inc.

420 Lexington Avenue,
Suite 300

New York, New York
10170

Attn: Lishan Aklog

Tel: 212-401-1951

Fax: 212-401-1951

 

          with copies to:          

 

Graubard Miller

405 Lexington Avenue,
11th Floor

New York, New York
10174

Attn: David Alan
Miller, Esq.

		Tel:	(212) 818-8661

		Fax:	(212) 818-8881

 

    	1

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