Document:

Loan Number: 145712

 

 

 

 

 

 

 

 Exhibit 10.2

Loan Number: 
145712                                   United Wisconsin Grain Producers,
LLC                              
Due Date: October 1, 2014

REVOLVING AND TERM CREDIT
AGREEMENT

Boxes
checked are applicable

(Business
Loans Only)

Boxes
not checked are inapplicable

United
Wisconsin Grain Producers, LLC

(Name of
Customer)

The
above named customer (“Customer”, whether one or more) agrees with Farmers
& Merchants Union Bank, 159 W. James Street, PO Box 226, Columbus, WI 53925
(“Lender”) as follows:

1.
 Loans

(a)
 T  Term Loan.
 (Check (1) or (2); only one shall apply)

(1) Single Note; Multiple Advances.  T If checked here, Customer requests
that Lender lend to Customer from time to time such amounts as Customer may
request, in accordance with this Agreement (the “Term Loan”), and,
subject to the terms of this Agreement, Lender agrees to lend such amounts up to
the aggregate amount advanced of $ 4,000,000.00  (the “Term
Credit Loan”) in one or more advances before October 1, 2014 .
 Customer’s obligations to repay the Term Loan shall be evidenced by a
promissory note (the “Note”) in substantially the form of Exhibit A
attached to this Agreement with blanks appropriately filled in and made payable
to the order of Lender; provided that Customer shall only be obligated to pay
amounts which Lender has advanced under this Section 1(a)(1).  Amounts
advanced to Customer and repaid to Lender may not be reborrowed by Customer
under this Section 1(a)(1).

(2) Multiple Notes; Multiple Advances.  £ If checked here, and in consideration
of extensions of credit from Lender to Customer from time to time, Lender and
Customer agree that sections 2 through 21 of this Agreement shall apply if
checked where appropriate, to each such extension of credit unless evidenced by
a document which states it is not subject to this Agreement.  The term
“Term Loan” includes all such extensions of credit.  The term
“Note” includes each promissory note evidencing Customer’s obligation to
repay an extension of Credit.  This Agreement does not constitute a
commitment by Lender to make such extensions of credit to Customer.

(b)  £
Revolving Loan.  If checked here, Customer requests that Lender lend
to Customer from time to time such amounts as Customer may request in accordance
with this Agreement (the “Revolving Loan”), and, subject to the terms of
this Agreement, Lender agrees to lend such amounts up to the aggregate principal
amount of $n/a   at any time outstanding (the “Revolving
Credit Limit”).  Within the Revolving Credit Limit and subject to the
terms of this Agreement, Customer may borrower, repay and reborrow under this
Agreement.  The aggregate amount of all advances on the Revolving Loan at
any time outstanding under this Agreement shall never exceed the lesser of the
Revolving Credit Limit or the Borrowing Base described on Exhibit B, if any.
 Lender is not obligated to but may make advances on the Revolving Loan in
excess of the Revolving Credit Limit or the Borrowing Base, and Customer is
liable for and agrees to pay all advances on the Revolving Loan.

(c)  Loans.  Collectively, the Revolving Loan and
the Term Loan, as applicable, under this Agreement shall be called the
“Loans” and each a “Loan”.

2.  Conditions for Loans.  Lender’s obligation to
make the initial advance of a Loan under this Agreement is subject to prior
satisfaction of the following conditions:

(a)  T

    Lender shall have received the Note duly
executed by Customer with respect to the Term Loan.

(b)  T

Lender shall have received the following security documents and
the additional security documents described on Exhibit C, if any (collectively
the “Security Documents”), duly executed, all accompanied by the
appropriate financing statements or control agreements: Real Estate Mortgage,
General Business Security Agreement.

(c)  £

     Lender shall have received copies:

£

certified by the Secretary of Customer of the articles of
incorporation and bylaws of Customer, and resolutions of the Board of Directors
of Customer authorizing the issuance, execution and delivery of this Agreement
and the Security Documents, if any;

£

certified by a general partner of Customer of the partnership
agreement of Customer, and an authorization signed by all of the general
partners of Customer authorizing the issuance, execution and delivery of this
Agreement and the Security Documents, if any;

T

certified by a member or manager of Customer, as appropriate, of
the articles of organization and operating agreement of Customer, and an
authorization signed by a member or manager of Customer, as appropriate,
authorizing the issuance, execution and delivery of this Agreement and the
Security Documents, if any;

£

certified by a trustee regarding the existence, name and other
matters pertaining to Customer if it is a trust, and an authorization signed by
all trustees of Customer authorizing the issuance, execution and delivery of
this Agreement and the Security Documents, if any;

and a certification of the names and addresses of the
representatives of Customer authorized to sign this Agreement and the Security
Documents, if any, and to request advances under the Loans under this Agreement,
together with true signatures of such representatives, and of such other matters
as Lender may reasonably request.

Revolving and Term Credit Agreement Cont.

Page 2
of 7

(d)  £

Lender shall have received a certificate of sole ownership
executed by the sole proprietor.

(e)  £

Lender shall have received the following additional documentation
executed by the trust and/or trustee:  n/a

(f)  £

Lender shall have received from counsel for Customer a favorable
opinion satisfactory to Lender covering the matters described in Sections 4(c)
and 4(d), 4(f) or 4(g), as applicable, and 4(f) of this Agreement and such other
matters as Lender may reasonably request.

(g)  £

Lender shall have received a separate guaranty of payment of the
Loans duly executed by n/a on WBA form ______________.

(h)  £

All proceedings taken by Customer in connection with the Loans,
the Security Documents and other documents provided to Lender shall be
satisfactory to Lender and Lender shall have received copies of all documents
reasonably required by it.

3.  Loan Procedures.  Customer may obtain
advances under the Loans under this Agreement as provided in (a), (b), (c) or
(d) below.

(a)  £

Revolving Loan.  Customer shall give Lender £ at least _______ business days’
prior notice or £                         of
any advance under the Revolving Loan requested under this Agreement, specifying
the date and amount of the advance under the Revolving Loan.  Lender will
make the advance under the Revolving Loan available to Customer £ by crediting the amount of the advance
under the Revolving Loan to Customer’s account (acct. no.
        ) with Lender or £
                                    .
 Each advance under the Revolving Loan which is less than the full amount
available to Customer under this Agreement shall be in an amount not less than
$          .

(b)  £

Revolving Loan.  Lender will credit Customer’s account
(acct. no. ______) with Lender whenever the £ ledger £ collected balance in the account is
less than $         on any
banking day (the “Target Amount”), for whatever reason.  The advance
under the Revolving Loan will be in an amount within the Revolving Credit Limit
and Borrowing Base sufficient to increase the balance to the Target Amount.
 Lender may decline to make any advance under the Revolving Loan and may
refuse to pay any check drawn on the account if the amount available to Customer
under the Revolving Credit Limit would not be sufficient to increase the balance
in the account to the Target Amount.

(c)  T

Term Loan.  Customer may obtain advances under the
Term Loan under this Agreement by giving Lender at least 

1

 business days’ prior notice of any advance requested,
specifying the date and the amount of the advance.  Lender will make the
funds available to Customer T by
crediting the amount of the advance to Customer’s account (account no.
2021307) with Lender £ by
                          .
 Each advance under the Term Loan which is less than the remaining amount
available to Customer under the Term Credit Limit shall be in an amount of not
less than $  n/a.

(d)  T

Other.  At customer’s written request via email,
fax or written authorization provided by President or Chief Financial Officer.
 Farmers & Merchants Union Bank shall advance the loan no later than
one business day after receipt of customer’s loan draw request.

£

If checked here, Lender’s obligation to make each advance under a
Loan (including the initial advance of any Loan) is subject to the further
condition that Lender shall have received a certificate signed by Customer,
dated the date of the advance under a Loan request and stating that the
representations and warranties in Section 4 are true and correct as of the date
of the request and that no event of default has occurred and is continuing or
would result from such advance under a Loan.

4.
 Representations and Warranties.  Customer represents and
warrants to Lender that on the date of this Agreement and on the date of each
advance under any Loan:

(a)

No part of any advance under a Loan will be used for personal,
family or household purposes.

(b)

Customer will not use any part of the proceeds of an advance under
a Loan to purchase any margin stock within the meaning of Regulation U of the
Board of Governors of the Federal Reserve System.

(c)

The execution and delivery of this Agreement, the Note, and the
Security Documents, and the performance by Customer of its obligations under
this Agreement, the Note, and the Security Documents, are within its power, have
been duly authorized by proper action on the part of Customer, are not in
violation of any existing law, rule or regulation, any order, authorization or
decision of any court, the articles of incorporation, bylaws, articles of
organization, operating agreement, partnership agreement, trust agreement or
other governing documents of Customer, as applicable, or the terms of any
agreement or restriction to which Customer is a party or by which it is bound,
and do not require the approval or consent of any person or entity.  This
Agreement, the Note and the Security Documents, when executed and delivered,
will constitute the valid and binding obligations of Customer enforceable in
accordance with their terms.

 

Revolving and Term Credit Agreement Cont

Page 3
of 7

(d)

£ Customer is a
corporation legally organized, validly existing and in good standing under the
laws of the State of n/a and is duly qualified to do business and
is in good standing in every jurisdiction in which the nature of its business or
its ownership of properties request such qualification.

(e)

£ Customer is a
n/a
   partnership legally organized,
validly existing and in good standing under the laws of the State of
     n/a   and is duly qualified to do business
and is in good standing in every jurisdiction in which the nature of its
business or ownership of properties requires such qualification.

(f)

T Customer is a limited
liability company legally organized, validly existing and in good standing under
the laws of the State of Wisconsin   and is duly qualified to do business
and is in good standing in every jurisdiction in which the nature of its
business or its ownership of properties requires such qualification.

(g)

£ Customer is a
£ testamentary trust
n/a

£ revocable living
trust £ irrevocable living
trust n/a

     validly existing under the laws of
the State of n/a   and the trust has not been revoked or
terminated.

(h)

Customer’s exact legal name is as set forth below Section 21.

(i)

If Customer is an individual, the address of Customer’s principal
residence is as set forth below Section 21.  If Customer is an organization
that has only one place of business, the address of Customer’s place of
business, or if Customer has more than one place of business, then the address
of Customer’s chief executive office, is as set forth below Section 21. 

(j)

All financial statements of Customer furnished to Lender were
prepared in accordance with generally accepted principles of accounting
consistently applied throughout the periods involved and are correct and
complete as of their dates.

(k)

(1) There is no substance which has been, is or will be present,
used, stored, deposited, treated, recycled or disposed of on, under, in or about
any real estate now or at any time owned or occupied by Customer
(“Property”) during the period of Customer’s ownership or use of the
Property in a form, quantity or manner which if known to be present on, under,
in or about the Property would require clean-up, removal or some other remedial
action (“Hazardous Substance”) under any federal, state or local laws,
regulations, ordinances, codes or rules (“Environmental Laws”); (2)
Customer has knowledge, after due inquiry, of any prior use or existence of any
Hazardous Substance on the Property by any prior owner of or person using the
Property; (3) without limiting the generality of the foregoing, Customer has no
knowledge, after due inquiry, that the Property contains asbestos,
polychlorinated biphenyl components (PCBs) or underground storage tanks; (4)
there are no conditions existing currently or likely to exist during the term of
this Agreement which would subject Customer to any damages, penalties,
injunctive relief or clean-up costs in any governmental or regulatory action or
third-party claim relating to any Hazardous Substance; (5) Customer is not
subject to any court or administrative proceeding, judgment, decree, order or
citation relating to any Hazardous Substance; and (6) Customer in the past has
been, at the present is, and in the future will remain in compliance with all
Environmental Laws.  Customer shall indemnify and hold harmless Lender, its
directors, officers, employees and agents from all loss, cost (including
reasonable attorneys’ fees and legal expenses), liability and damage whatsoever
directly or indirectly resulting from, arising out of, or based upon (i) the
presence, use, storage, deposit, treatment, recycling or disposal, at any time,
of any Hazardous Substance described above on, under, in or about the Property,
or the transportation of any Hazardous Substance to or from the Property, (ii)
the violation or alleged violation of any Environmental Law, permit, judgment or
license relating to the presence, use, storage, deposit, treatment, recycling or
disposal of any Hazardous Substance on, under, in or about the Property, or the
transportation of any Hazardous Substance to or from the Property, (iii) the
imposition of any governmental lien for the recovery of environmental clean-up
costs expended under Environmental Law, or (iv) breach of this representation or
warranty.  Customer shall immediately notify Lender in writing of any
governmental or regulatory action or third-party claim instituted or threatened
in connection with any Hazardous Substance on, in, under or about the
Property.

(l)

There is no litigation or administrative proceeding pending or, to
the knowledge of Customer, threatened against Customer which might result in any
material adverse change in the business or condition of Customer.

(m)

There are no unpaid wages due employees of Customer and there are
no outstanding liens against assets of Customer for unpaid wages due employees
of Customer.

5.  Fees.  Customer agrees to pay the following
nonrefundable fees as a condition of access to the Loans under this
Agreement:

(a) 

£  Commitment fee
in the amount of $ n/a.

(b)  

£  Commitment fee
in an amount equal to n/a % per year of the average daily unused
portion of the Revolving Credit Limit and the Term Credit Limited from the date
of this Agreement until the Termination Date specified in Section 13, payable
£ at the times interest is
payable under Section 7 £ on
the  n/a
day of each n/a 

(c)

T 

A loan origination fee of 10 basis points will be collected at
the inception date of loan

6.  Interest Rate and Other Charges.

(a)

Revolving Loan.  Customer agrees to pay interest to
Lender on the unpaid principal balance outstanding from time to time under the
Revolving Loan [Check (1), (2) or (3); only one shall apply.]:

Revolving and Term Credit Agreement Cont.

Page 4
of 7

(1) £ Fixed
Rate.  At the rate of n/a% per year.

(2) £ Stepped
Fixed Rate.  At the rate (“Note Rate”) of 

n/a% per year until n/a  and   n/a
% per year thereafter.

(3) £ Variable
Rate.  At the annual rate (“Note Rate”) which shall equal the
Index Rate (as defined below) £
plus £ minus .n/a
 percentage points.  However, the Note Rate shall not exceed
n/a% per year and shall not be less than n/a% per year, and until
the first change date described below the Note Rate shall be n/a% per
year.  The Note Rate shall be adjusted as provided below.

The Index Rate is:

    n/a

The Index Rate may or may not be the lowest rate charged by
Lender.  The Note Rate shall be adjusted only on the following change
dates: 

  n/a
                                      .
 If the Index Rate ceases to be made available to Lender during the term of
this Agreement, Lender may substitute a comparable index.

Interest is computed on the basis of the actual number of days the
principal balance is unpaid based upon a year of £ 360 days (which means that the stated
interest rate will be divided by 360 days to arrive at a daily interest rate,
and the daily interest rate will be applied to the unpaid principal for the
actual number of days principal is unpaid up to 365 days a calendar year and 366
days in a leap year) £ 365 days.
 In any payment (other than the final payment) is not made on or before the
   day after its due date, Lender may collect a
delinquency charge of £
  % of the unpaid amount £     .
 Unpaid principal and interest bear interest after maturity (whether by
acceleration or lapse of time) until paid at the rate(s) £ stated under (2) or (3) above, as
applicable plus    n/a   percentage points £ of n/a  % per year,
computed on the same basis as the interest rate before maturity.

(b)

Term Loan.  Customer agrees to pay interest to Lender
on the unpaid principal balance outstanding from time to time on the Term Loan
in accordance with the Note.

7.

Payment Schedule.

(a)

Revolving Loan.  Customer agrees to pay to Lender the
unpaid principal balance and interest due on the Revolving Loan as follows:
[check (1), (2), (3) or (4).]

(1) £ In one payment
on £ demand £ the Termination Date specified in
Section 13.

(2) £ In payments of
interest, beginning    n/a, and on the same day of each
n/a month thereafter, plus a final payment of unpaid principal and
interest due on the Termination Date specified in Section 13.

(3) £ In
installments each equal to      n/a

% of the unpaid principal balance, plus interest, beginning
    n/a

,  and on the same day of each
        n/a  month
thereafter, plus a final payment of unpaid principal and interest due on the
Termination Date specified in Section 13.

 

(4) £                                               

In addition, Customer shall immediately pay any amount by which
the unpaid balance of the Revolving Loan exceeds the lesser of the Revolving
Credit Limit or the Borrowing Base established under Section 1(6), if any, and
any prior unpaid payments.  Lender is authorized to automatically charge
payments due under this Agreement to any account of Customer with Lender.
 If payments are not automatically charged to Customer’s account, payments
must be made to Lender at its address shown below, or at such other location as
any assignee of this Agreement may designated by written notice to Customer, and
are not credited until received in Lender’s office.  Lender is authorized
to make book entries evidencing advances made under the Revolving Loan and
payments under this Agreement and the aggregate unpaid amount of all advances
made under the Revolving Loan as evidenced by those entries is presumptive
evidence that those amounts are outstanding and unpaid to Lender.

(b)

Term Loan.  Customer agrees to pay Lender the unpaid
principal balance and interest due on the Term Loan in accordance with the
Note.

8.

Covenants.  Customer shall, so long as any amounts
remain unpaid, or Lender has any commitment to make advances under the Loans
under this Agreement:+

(a)

Furnish to Lender, as soon as available, such financial
information respecting Customer as Lender from time to time requests, and
without request furnish to Lender:

(1) Within 

120 days after the end of each fiscal year of Customer a
balance sheet of Customer as of the close of such fiscal year and related
statements of income and retained earnings and cash flow for such year all in
reasonable detail and satisfactory in scope of Lender, prepared in accordance
with generally accepted principles of accounting applied on a consistent basis,
either T (i) £ compiled £ reviewed T audited by an independent certified
public accountant acceptable to Lender, or £ (ii) certified by the chief financial
representative of Customer, and

(2) Within 

30 days after the end of each 

consecutive month a balance sheet of Customer as of the end
of such month and related statements of income and retained earnings and cash
flow for the period from the beginning of the fiscal year to the end of such
month, prepared in accordance with generally accepted principles of accounting
applied on a consistent basis, certified, subject to normal year-end
adjustments, by an officer or partner of Customer.

Revolving and Term Credit Agreement Cont

Page 5
of 7

(b)

Customer shall furnish to Lender such reports regarding the
payment of wages to employees of Customer and the number of employees of
Customer as Lender may from time to time request, and without request shall
furnish to Lender a written report immediately upon any 

material increase in the number of employees of Customer, the
failure of Customer to pay any wages when due to employees of Customer or the
imposition of any lien against the assets of Customer for unpaid wages due
employees of Customer

(c)

Keep complete and accurate books of records and accounts and
permit any representatives of Lender to examine and copy any of the books and to
visit and inspect any of Customer’s tangible properties as often as desired.

(d)

Maintain insurance coverage in the forms, amounts and with
companies which would be carried by prudent management in connection with
businesses engaged in similar activities in similar geographic areas.
 Without limiting this section or the requirements of any Security
Document, Customer will (i) keep all its physical property insured against fire
and extended coverage risks in the amounts and with deductibles at least equal
to those generally maintained by businesses engaged in similar activities in
similar geographic areas (together with any lender’s loss payee clause for the
benefit of and requested by Lender), (ii) maintain all such workers’
compensation and similar insurance as may be required by law, and (iii)
maintain, in amounts and with deductibles at least equal to those generally
maintained by businesses engaged in similar activities in similar geographic
areas, general public liability insurance against claims for bodily injury,
death or property damage occurring on, in or about the properties of Customer,
business interruption insurance and product liability insurance (together with
any additional insured clause for the benefit of and requested by Lender)

(e)

Pay and discharge all lawful taxes, assessments and governmental
charges upon Customer or against its properties prior to the date on which
penalties attach, unless and to the extent only that such taxes, assessments and
charges are contested in good faith and by appropriate process by Customer.

(f)

Do all things necessary to maintain its existence, to preserve and
keep in full force and effect its rights and franchises necessary to continue
its business and comply with all applicable laws, regulations and
ordinances.

(g)

Timely perform and observe the following financial covenants, all
calculated in accordance with generally accepted principles of accounting
applied on a consistent basis:

(1) £  Maintain
at all times an excess of current assets over current liabilities of not less
than $

.

(2) £  Maintain
at all times a tangible net worth of not less than $

.

(3) £  Not make
any expenditures for fixed or capital assets which would cause the aggregate of
all such expenditures to exceed $     during any
fiscal year

 

 

 

 

 

 

 

(4) £  Maintain
at all times a ratio of current assets to current liabilities of not less than
_____ to one.

(5) £  Maintain at all times a ratio of
total liabilities to tangible net worth of not greater than ____ to
one.

(6) £  ____________.

 

 

 

 

(h)

Furnish to Lender the Borrowing Base Certificates required under
Exhibit B, if any.

(i)

Not create or permit to exist any lien or encumbrance with respect
to Customer’s properties, except liens in favor of Lender, liens for taxes if
they are being contested in good faith by appropriate proceedings and for which
appropriate reserves are maintained, liens or encumbrances permitted under any
Security Document and except for liens described on Exhibit E and attached
hereto.

(j)

Not take any action or permit any event to occur which materially
impairs Customer’s ability to make payments under this Agreement when due.
 Such events include, without limitation, the fact that Customer,
Customer’s spouse or any surety or guarantor for Customer’s obligations under
this Agreement cease to exist, dies, changes marital status or domicile or
becomes insolvent or the subject of bankruptcy or insolvency proceedings or that
any guaranty of Customer’s obligations under this Agreement is revoked or
becomes unenforceable for any reason.

(k)

Not change its type of organization or state under whose law it is
organized as represented in Sections 4(d), (e) or (f) and shall preserve its
organizational existence and shall not, in one transaction or in a series of
related transactions, merge into or consolidate with any other organization,
change its legal structure or sell all or substantially all of its assets.

(l)

Not change its legal name without providing at least 30 days’
prior written notice of the change to Lender.

(m)

Not change its address without providing at least 30 days’ prior
written notice of the change to Lender.

(n)

Timely perform all duties and responsibilities imposed on Customer
under Section 4(k).

(o)

Customer shall pay all wages when due to employees of Customer and
shall not permit any lien to exist against the assets of Customer for unpaid
wages due employees of Customer

(p)

T  Unless
otherwise consented to in writing by Lender, timely perform and observe all
additional covenants described on Exhibit D.

Revolving and Term Credit Agreement Cont.

Page 6 of 7

9.

Security Interest.  This Agreement and the Note are
secured by all existing and future security agreements, assignments and
mortgages from Customer to Lender, from any guarantor of this Agreement or the
Note to Lender, and from any other person to Lender providing collateral
security for Customer’s obligations, and payment of the Loans may be accelerated
according to any of them.  Unless a lien would be prohibited by law or
would render a nontaxable account taxable, Customer also grants to Lender a
security interest and lien in any deposit accounts Customer may at any time have
with Lender.  Lender may at any time after the occurrence of an event of
default set-off any amount unpaid under this Agreement or the Note against any
deposit balances or other money now or hereafter owed to Customer by Lender.

10.

Default and Acceleration.  Upon the occurrence of any
one or more of the following events of default: (a) Customer fails to pay any
amount when due under this Agreement or the Note or under any other instrument
evidencing any indebtedness of Customer to Lender, (b) any representation or
warranty made under this Agreement or information provided by Customer in
connection with this Agreement is or was false or fraudulent in any material
respect, (c) a material adverse change occurs in Customer’s financial condition,
(d) Customer fails to timely observe or perform any of the covenants or duties
contained in this Agreement, the Note or any Security Documents, (e) any
guaranty of Customer’s obligations under this Agreement or the Note is revoked
or becomes unenforceable for any reason or any such guarantor dies, ceases to
exist or becomes the subject of any bankruptcy or insolvency proceeding, or (f)
an event of default occurs under any Security Document or the Note; then, at
Lender’s option, and upon written verbal notice to Customer, Lender’s obligation
to make advances on the Loans under this Agreement shall terminate and the total
unpaid balance shall become immediately due and payable without presentment,
demand, protest, or further notice of any kind, all of which are hereby
expressly waived by Customer.  Lender’s obligation to make advances on the
Loans under this Agreement shall automatically terminate and the total unpaid
balance shall automatically become due and payable in the event Customer becomes
the subject of bankruptcy or other insolvency proceedings.  Lender may
waive any default without waiving any other subsequent or prior default.
 Customer agrees to pay Lender’s costs of administration of this Agreement.
 Customer also agrees to pay all costs of collection before and after
judgment, including reasonable attorneys’ fees (including those incurred in
successful defense or settlement of any counterclaim brought by Customer or
incident to any action or proceeding involving Customer brought pursuant to the
United States Bankruptcy Code).

11.

Indemnification.  Customer agrees to defend, indemnify
and hold harmless Lender, its directors, officers, employees and agents, from
and against any and all loss, cost, expense, damage or liability (including
reasonable attorneys’ fees) incurred in connection with any claim, counterclaim
or proceeding brought as a result of, arising out of or relating to any
transaction financed or to be financed, in whole or in part, directly or
indirectly, with the proceeds of any Loan or the entering into and performance
of this Agreement or any document or instrument relating to this Agreement by
Lender or the activities of Customer.  This indemnity will survive
termination of this Agreement, the repayment of all Loans and the discharge and
release of any Security Documents.

12.

Venue.  To the extent not prohibited by law, venue for
any legal proceeding relating to enforcement of this Agreement shall be, at
Lender’s option, the county in which lender has its principal office in this
state, the county and state in which Customer resides, or the county in this
state in which this Agreement was executed by Customer.

13.

Termination.  Unless sooner terminated under Section
10, Customer’s right to obtain advances on the Loans and Lender’s obligation to
extend credit under this Agreement shall terminate on the date final payment is
due under Section 7 or the Note, if applicable, or on
     n/a    , whichever is
earlier (the “Termination Date”).  Customer may terminate Customer’s
right to obtain advances on the Loans under this Agreement at any time and for
any reason by written notice to Lender.  Such notice of termination signed
by a Customer shall be binding on each Customer who signs this Agreement.
 Termination, for whatever reason, does not affect Lender’s rights, powers
and privileges, nor Customer’s duties and liabilities, with regard to the then
existing balance due on the Loans under this Agreement.

14.

Amendment.

  No amendment, modification, termination or waiver of
any provision of this Agreement shall in any event be effective unless it is in
writing and signed by Lender, and then such waiver or consent shall be effective
only in the specific instance and for the specific purposes for which given.

15.

Entire Agreement.  This Agreement, including the
Exhibits attached or referring to it, the Note, and the Security Documents, are
intended by Customer and Lender as a final expression of their agreement and as
a complete and exclusive statement of its terms, there being no conditions to
the full effectiveness of this Agreement except as set forth in this Agreement
and the Security Documents.

16.

No Waiver; Remedies.  No failure on the part of Lender
to exercise, and no delay in exercising, any right, power or remedy under this
Agreement shall operate as a waiver of such right, power or remedy; nor shall
any single or partial exercise of any right under this Agreement preclude any
other or further exercise of the right of the exercise of any other right.
 The remedies provided in this Agreement are cumulative and not exclusive
of any remedies provided by law.

17.

More Than One Customer.  If more than one person signs
this Agreement as Customer, Lender may at its option and without notice refuse
any request for an advance on a Loan upon notice from any of the undersigned.
 Any of the undersigned Customers may request an advance on a Loan under
this Agreement.  Each of the undersigned Customers is jointly and severally
liable for all Loans and other obligations under this Agreement.

18.

Notice.  Except as otherwise provided in this
Agreement, all notices required or provided for under this Agreement shall be in
writing and mailed, sent or delivered, if to Customer, at any Customer’s last
known address as shown on the records of Lender, and if to Lender, at its
address shown below, or, as to each party, at such other address as shall be
designated by such party in a written notice to the other party.  All such
notices shall be deemed duly given when delivered by hand or courier, or three
business days after being deposited in the mail (including any private mail
service), postage prepaid, provided that notice to Lender pursuant to Section 13
shall not be effective until received by Lender.

Revolving and Term Credit Agreement Cont.

Page 7 of 7

19.

Successors and Assigns.  This Agreement shall be
binding upon and inure to the benefit of Lender and Customer and their
respective heirs, personal representatives, successors and assigns except that
Customer may not assign or transfer any of Customer’s rights under this
Agreement without the prior written consent of Lender.

20

Interpretation.  The validity, construction and
enforcement of this Agreement are governed by the internal laws of the State of
Wisconsin except to the extent such laws are preempted by federal law.
 Invalidity of any provision of this Agreement shall not affect the
validity of any other provisions of this Agreement.

21.

Other Provisions.  (if none are stated below, there
are no other provisions)

United Wisconsin Grain Producers, LLC

T If checked here, this
Agreement renews and replaces in its entirety the £ Revolving Credit Agreement £ Term Credit Agreement T Revolving and Term Credit Agreement
between Lender and Customer dated   October 16, 2008
  (the
“Prior
Agreement”).  Loans
currently outstanding and unpaid under the Prior Agreement shall constitute
Loans outstanding and unpaid under this Agreement, shall be payable as Loans as
required under this Agreement and shall be applied as Loans to the Credit Limit
established under this Agreement.

Dated:   April 2, 2009

LENDER:  Farmers & Merchants Union Bank

PO Box 247

Customer Address: Friesland, WI 53935

/s/ Douglas E. Lambert

(SEAL)

Douglas E. Lambert, Assistant Vice-President

CUSTOMER: United Wisconsin Grain Producers, LLC

CUSTOMER:

By:

/s/ Barb Bontrager

(SEAL)

_____________________________________________(SEAL)

      Barb Bontrager, Chief
Financial Officer

CUSTOMER:

CUSTOMER:

__________________________________________(SEAL)

_____________________________________________(SEAL)

CUSTOMER:

CUSTOMER:

__________________________________________(SEAL)

_____________________________________________(SEAL)

CUSTOMER:

CUSTOMER:

__________________________________________(SEAL)

_____________________________________________(SEAL)

 

Loan
Number: 145712

       United
Wisconsin Grain Producers, LLC

    Due
Date: October 1, 2014

EXHIBIT
A

BUSINESS NOTE

(Use only
for business purpose loans)

United Wisconsin Grain Producers, LLC

   April 2, 2009

  $4,000,000.00

1.  Promise to Pay and Payment Schedule.  The
undersigned (“Maker,” whether one or more) promises to pay to the order of
Farmers & Merchants Union Bank
        (“Lender”) at 159 W.
James Street, PO Box 226 Columbus
       , Wisconsin, the sum of
$4,000,000.00    , plus interest on the unpaid principal
balance, according to the following schedule:

 

6
payment(s) consisting of accrued interest beginning May 1, 2009 and continuing
monthly thereafter, followed by 59 equal payment(s) consisting of principal and
interest in the amount of $77,975.00 each beginning November 1, 2009 and
continuing monthly thereafter, and one (1) final payment consisting of the
unpaid principal and all accrued interest remaining due on October 1,
2014.

2.
 Interest Calculation.  This Note bears interest on the unpaid
principal balance before maturity:

[Check (a), (b) or (c); only one shall apply.]

(a) T Fixed
Rate.  At the rate of   6.250

% per year.
(b) £
Stepped Fixed Rate.  At the rate (“Note Rate”) of n/a%
per year until n/a  and n/a% per year thereafter.

 

(c) £ Variable
Rate.  At the annual rate (“Note Rate”) which shall equal the
Index Rate (as defined below), £
plus £ minus .n/a

 percentage points.  However, the Note Rate shall not
exceed       n/a
     % per year and shall not be less than
          n/a  %
per year, and until the first change date described below the Note Rate shall be
     n/a       %
per year.  The Note Rate shall be adjusted as provided below.  
The
Index Rate is:
  n/a

 

The index Rate may or may not be the lowest rate charged by
Lender.  The Note Rate shall be adjusted only on the following change
dates:

  n/a

 

If the Index Rate ceases to be made available to Lender during the
term of this Note, Lender may substitute a comparable index.

(d)

If box (b) or (c) is checked, an adjustment in the Note Rate will
result in an increase or decreases in (1) £ the amount of each payment of
interest, (2) £ the amount of the
final payment, (3) £ the number of
scheduled periodic payments sufficient to repay this Note in substantially equal
payments, (4) £ the amount of each
remaining payment of principal and interest so that those remaining payments
will be substantially equal sufficient to repay this Note by its scheduled
maturity date, (5) £ the amount of
each remaining payment of principal and interest (other than the final payment)
so that those remaining payments will be substantially equal and sufficient to
repay this Note by its scheduled maturity date based on the original
amortization scheduled used by Lender, plus the final payment of principal and
interest, or (6) £      n/a
                                   .
 In addition, Lender is authorized to change the amount of periodic
payments if and to the extent necessary to pay in full all accrued interest
owing on this Note.  The Maker agrees to pay any resulting payments or
amounts.

Interest is computed:

(e)

 T For the
actual number of days principal is unpaid on the basis of T a 360 day year (which means that the
stated interest rate will be divided by 360 days to arrive at a daily interest
rate, and the daily interest rate will be applied to the unpaid principal for
the actual number of days principal is unpaid up to 365 days in a calendar year
and 366 days in a leap year) £ a
365 day year.

(f)

£ For the number of
days principal is unpaid on the basis of a 360 day year, counting each day as
1/30th of a month and disregarding differences in
lengths of months and years.

(g)
£ Past due interest shall bear
interest from its due date until paid at the interest rate then in effect for
this Note.

Unpaid
principal and interest bear interest after maturity until paid (whether by
acceleration or lapse of time) at the rate(s) £ stated under 2(b) or (c) above, as
applicable, plus   n/a    percentage points
T of    8.250
  % per year, computed on the same basis as the interest rate
before maturity.  All payments shall be applied first to accrued and unpaid
interest, second to other charges payable by Maker to Lender and third to unpaid
principal.

3.  Other Charges.  If any payment (other than
the final payment) is not made on or before the 10th  

 day after its due date, Lender may collect a delinquency
charge of T
         5.00  % of the
unpaid amount £ $
        n/a  .  Maker
agrees to pay a charge of $  10.00 for each check presented for
payment under this Note which is returned unsatisfied.

4.
 Prepayment.  Full or partial prepayment of this Note £ is permitted at any time without
penalty T a prepayment penalty
equal to 1.00% of the outstanding loan balance shall be charged on this loan
unless Maker can establish the source of the prepayment is from Maker’s business
operations.

All
prepayments shall be applied first to accrued and unpaid interest, second to
other charges payable by Maker to Lender and third to principal.

THIS NOTE
INCLUDES ADDITIONAL PROVISIONS ON PAGE 2

OTHER PROVISIONS:

Revolving
and Term Credit Agreement dated April 2, 2009 is 

United
Wisconsin Grain Producers, LLC

     (SEAL)

attached
hereto.

A
Wisconsin Limited Liability Company

By:

     (SEAL)

Barb
Bontrager, Chief Financial Officer

By:

     (SEAL)

By:

     (SEAL)

By:

     (SEAL)

PO
Box 247

Friesland,
WI 53935

(920
348-5016)

ADDITIONAL PROVISIONS

5.
 Default and Enforcement.  Upon the occurrence of any one or more
of the following events of default: (a) Maker fails to pay any amount when due
under this Note or under any other instrument evidencing any indebtedness of
Maker to Lender, (b) any representation or warranty made under this Note or
information provided by Maker to Lender in connection with this Note is or was
false or fraudulent in any material respect, (c) a material adverse change
occurs in Maker's financial condition, (d) Maker fails to timely observe or
perform any of the covenants or duties contained in this Note, (e) any guarantee
of Maker's obligations under this Note is revoked or becomes unenforceable for
any reason, (f) Maker, Maker's spouse or a surety or guarantor of this Note dies
or ceases to exist, (g) an event of default occurs under any agreement securing
this Note, or (h) Lender at any time believes in good faith that the prospect of
payment or performance under this Note, under any other instrument evidencing
any indebtedness of Maker to Lender or under any agreement securing this Note is
impaired, then the unpaid balance shall, at the option of Lender, without
notice, mature and become immediately payable. The unpaid balance shall
automatically mature and become immediately payable in the event any Maker or
any surety, indorser or guarantor for any of Maker's obligations under this Note
becomes the subject of bankruptcy or other insolvency proceedings. Lender's
receipt of any payment on this Note after the occurrence of an event of default
shall not constitute a waiver of the default or the Lender's rights and remedies
upon such default. To the extent not prohibited by law, Maker consents that
venue for any legal proceeding relating to collection of this Note shall be, at
Lender's option, the county in which Lender has its principal office in this
state, the county in which any Maker resides or the county in which this Note
was executed and Maker submits to the jurisdiction of any such court.

6.
 Security.  This Note is secured by all existing and future
security agreements and mortgages between Lender and Maker, between Lender and
any indorser or guarantor of this Note, and between Lender and any other person
providing collateral security for Maker's obligations, and payment may be
accelerated according to any of them. Unless a lien would be prohibited by law
or would render a nontaxable account taxable, Maker grants to Lender a security
interest and lien in any deposit account Maker may at any time have with Lender.
Lender may, at any time after an occurrence of an event of default, without
notice or demand, set-off against any deposit balance or other money now or
hereafter owed any Maker by Lender any amount unpaid under this Note.

7.
Flights of Lender.  Without affecting the liability of any Maker,
indorser, surety, or guarantor, Lender may, without notice, accept partial
payments, release or impair any collateral security for the payment of this Note
or agree not to sue any party liable on it. Lender may apply prepayments, if
permitted, to such future installments as it elects. Lender may without notice
to Maker apply payments made by or for Maker to any obligations of Maker to
Lender. Without affecting the liability of any indorser, surety or guarantor,
Lender may from time to time, without notice, renew or extend the time for
payment.

8.
Obligations and Agreements of Maker. The obligations under this Note of all
Makers are joint and several. All Makers, indorsers, sureties, and guarantors
agree to pay all costs of collection before and after judgment, including
reasonable attorneys' fees (including those incurred in successful defense or
settlement of any counterclaim brought by Maker or incident to any action or
proceeding involving Maker brought pursuant to the United States Bankruptcy
Code) and waive presentment, protest, demand and notice of dishonor. Maker
agrees to indemnify and hold harmless Lender, its directors, officers, employees
and agents, for, from and against any and all claims, damages, judgments,
penalties, and expenses, including reasonable attorneys' fees, arising directly
or indirectly from credit extended under this Note or the activities of Maker.
This indemnity shall survive payment of this Note. Each Maker acknowledges that
Lender has not made any representations or warranties with respect to, and that
Lender does not assume any responsibility to Maker for, the collectability or
enforceability of this Note or the financial condition of any Maker. Each Maker
has independently determined the collectability and enforceability of this Note.
Maker represents that the legal name of Maker and the address of Maker's
principal residence are as set forth on page 1. Maker shall not change its legal
name or address without providing at least 30 days prior written notice of the
change to Lender.

9.
Interpretation.  This Note is intended by Maker and Lender as a final
expression of this Note and as a complete and exclusive statement of its terms,
there being no conditions to the enforceability of this Note. This Note may not
be supplemented or modified except in writing. This Note benefits Lender, its
successors and assigns, and binds Maker and Maker's heirs, personal
representatives, successors and assigns. The validity, construction and
enforcement of this Note are governed by the internal laws of Wisconsin except
to the extent such laws are preeempted by federal law. Invalidity or
unenforceability of any provision of this Note shall not affect the validity or
enforceability of any other provisions of this Note.

									
	
INTEREST

PAID TO
                                                                                                  $

	
MO.
	
DAY
	
YR.
	
DATES PAID
	
INITIALS
	
INTEREST
	
PRINCIPAL
	
BALANCE DUE

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

EXHIBIT D

This
Exhibit D is a part of the Revolving And Term Credit Agreement between United
Wisconsin Grain Producers, LLC (“Customer”) and Farmers & Merchants Union
Bank, Columbus, Wisconsin (“Lender”) dated April 2, 2009.

Customer
shall timely perform and observe the following financial covenants, which if
applicable shall be calculated in accordance with generally accepted accounting
principles applied on a consistent basis:

A)

Maintain
a minimum book value net worth of $50,000,000.00 measured monthly.

B)

Maintain
a minimum working capital position of $7,500,000.00, measured monthly.
 Minimum working capital position shall be defined as (current assets +
available line of credit availability) minus (current liabilities + current
advanced portion of line of credit) measured monthly.

C)

Limit
annual capital expenditures to less than or equal to $1,000,000.00 without
Farmers & Merchants Union Bank’s written approval, measured monthly.

D)

Borrower
must obtain Lender consent prior to making dividends/distributions exceeding 50%
of the prior year’s net income, excluding state and federal incentive payments
accrued and/or received.  This measure will start with post 12/31/08
figures.

E)

Borrower
is prohibited from making investments not directly for the benefit of the United
Wisconsin Grain Producers facility at W1231 Tessmann Drive, Town of Randolph,
Columbia County, Wisconsin.

EXHIBIT E

This
Exhibit E is part of the Revolving And Term Credit Agreement between United
Wisconsin Grain Producers, LLC (“Customer”) and Farmers & Merchants Union
Bank, Columbus, Wisconsin (“Lender”) dated April 2, 2009.

Section
8 item (I): Customer shall not create or permit to exist any lien or encumbrance
with respect to Customer’s properties, except liens in favor of Lender, liens
for taxes if they are being contested in good faith by appropriate proceedings
and for which appropriate reserves are maintained, liens or encumbrances
permitted under any Security Document and the following liens:

		
	
·
	
UCC Filing
080006168526 to GFC Leasing for a MUP14426/S4830 Imagerunner 3035
MXD01600/S4794 IR 2022I

 

	
·
	
UCC Filing
050009431724 to Wisconsin Department of Transportation for rails, ties and
ballast connected to Union Pacific Railroad.

 

	
·
	
UCC Filing
050008688636 to Caterpillar Financial Services Corporation for a
Caterpillar 924G Wheel Loader S/N DDA01867 as well as any substitutions,
replacements, additions or accessions thereto, now owned or hereafter
acquired and proceeds thereof.

 

	
·
	
UCC Filing
050007950021 to Agstar Financial Services, ACA for a rebuilt TGS45001
track mobile and all attachments and accessories as well as 1 Accelerator
Group Air Cat 316 and all attachments and accessories.

 

	
·
	
UCC Filing
050006422317 to Caterpillar Financial Services Corporation for a
Caterpillar 924G Wheel Loader S/N DDA01866 as well as any substitutions,
replacements, additions or accessions thereto, now owned or hereafter
acquired and proceeds thereof.SUBSCRIPTION AGREEMENT

        
            	
                        To: 

                    	
                        KeyOn Communications Holdings, Inc.

                    
	 	11742 Stonegate Circle
	 	Omaha, NE 68164
	 	Attn: Jonathan Snyder, President and Chief Executive Officer

        

         

        This Subscription Agreement (this “Agreement”) is being delivered to the party identified on the signature page to this Agreement (the “Subscriber”) in connection with its investment in KeyOn Communications Holdings, Inc., a Delaware corporation
        (“KeyOn” or the “Company”). 

        
            	
                        1.

                    	
                        SUBSCRIPTION AND CONSIDERATION UNITS

                    

        

        (a)        Subscription. The Subscriber hereby subscribes for the number of Units indicated on page 7 hereof on the terms and conditions described herein. 

        (b)        Units. The Subscriber understands and acknowledges that the purchase price to be remitted to the Company in exchange for the Units shall be set at $0.19 per Unit, for an aggregate purchase price as set forth on page 7 hereof (the “Aggregate Purchase
        Price”). The Subscriber’s delivery of this Agreement to the Company shall be accompanied by payment for the Units subscribed for hereunder, payable in United States Dollars, by wire transfer of immediately available funds delivered contemporaneously with the Subscriber’s delivery of this Agreement to the Company in accordance with the instructions provided on Exhibit A. The Subscriber
        understands and agrees that, subject to Section 2 and applicable laws, by executing this Agreement, it is entering into a binding agreement. 

        
            	
                        2.

                    	
                        THE SUBSCRIBER’S REPRESENTATIONS, WARRANTIES AND COVENANTS

                  

        

        The Subscriber hereby acknowledges, agrees with and represents, warrants and covenants to the Company, as follows:

        (a)        The Subscriber has full power and authority to enter into this Agreement, the execution and delivery of which has been duly authorized, if applicable, and this Agreement constitutes a valid and legally binding obligation of the Subscriber.

        (b)        The Subscriber acknowledges its understanding that the offering and sale of the Securities is intended to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(2) of the Securities Act and the provisions of
        Regulation D promulgated thereunder (“Regulation D”). In furtherance thereof, the Subscriber represents and warrants to the Company and its affiliates as follows:

        (i)         The Subscriber realizes that the basis for the exemption from registration may not be available if, notwithstanding the Subscriber’s representations contained herein, the Subscriber is merely acquiring the Securities for a fixed or determinable period in the future, or for a market rise, or for sale if
        the market does not rise. The Subscriber does not have any such intention.

        (ii)        The Subscriber realizes that the basis for exemption would not be available if the offering is part of a plan or scheme to evade registration provisions of the Securities Act or any applicable state or federal securities laws.

        (iii)       The Subscriber is acquiring the Securities solely for the Subscriber’s own beneficial account, for investment purposes, and not with a view towards, or resale in connection with, any distribution of the Securities.

        (iv)       The Subscriber has the financial ability to bear the economic risk of the Subscriber’s investment, has adequate means for providing for its current needs and contingencies, and has no need for liquidity with respect to an investment in the Company.

        (v)        The Subscriber and the Subscriber’s attorney, accountant, purchaser representative and/or tax advisor, if any (collectively, the “Advisors”) has such knowledge and experience in financial and 

        

        

        

        business matters as to be capable of evaluating the merits and risks of a prospective investment in the Securities. If other than an individual, the Subscriber also represents it has not been organized solely for the purpose of acquiring the Securities.

        (vi)       The Subscriber (together with its Advisors, if any) has received all documents requested by the Subscriber, if any, has carefully reviewed them and understands the information contained therein, prior to the execution of this Agreement.

        (c)        The Subscriber is not relying on the Company or any of its employees, agents, sub-agents or advisors with respect to economic considerations involved in this investment. The Subscriber has relied on the advice of, or has consulted with, only its Advisors. Each Advisor, if any, is capable of evaluating the merits and risks of an
        investment in the Securities, and each Advisor, if any, has disclosed to the Subscriber in writing (a copy of which is annexed to this Agreement) the specific details of any and all past, present or future relationships, actual or contemplated, between the Advisor and the Company or any affiliate or sub-agent thereof.

        (d)        The Subscriber has carefully considered the potential risks relating to the Company and a purchase of the Securities, and fully understands that the Securities are a speculative investment that involve a high degree of risk of loss of the Subscriber’s entire investment.

        (e)        The Subscriber represents, warrants and agrees that the Subscriber will not sell or otherwise transfer any Securities without registration under the Securities Act or an exemption therefrom, and fully understands and agrees that the Subscriber must bear the economic risk of its purchase because, among other reasons, the Securities
        have not been registered under the Securities Act or under the securities laws of any state and, therefore, cannot be resold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and under the applicable securities laws of such states, or an exemption from such registration is available. In particular, the Subscriber is aware that the Securities are “restricted securities,” as such term is defined in Rule 144 promulgated
        under the Securities Act (“Rule 144”), and they may not be sold pursuant to Rule 144 unless all of the conditions of Rule 144 are met. The Subscriber also understands that, except as otherwise provided in Section 5 hereof, the Company is under no obligation to register the Securities on behalf of the Subscriber or to assist the Subscriber in complying with any exemption from registration under the Securities Act or
        applicable state securities laws. The Subscriber understands that any sales or transfers of the Securities are further restricted by state securities laws and the provisions of this Agreement.

        (f)        No oral or written representations or warranties have been made to the Subscriber by the Company or any of its officers, employees, agents, sub-agents, affiliates, advisors or subsidiaries, other than any representations of the Company contained herein, and in subscribing for the Units, the Subscriber is not relying upon any
        representations other than those contained herein.

        (g)        The Subscriber’s overall commitment to investments that are not readily marketable is not disproportionate to the Subscriber’s net worth, and an investment in the Securities will not cause such overall commitment to become excessive.

        (h)        The Subscriber understands and agrees that the certificates for the Securities shall bear substantially the following legend until (i) such Securities shall have been registered under the Securities Act and effectively disposed of in accordance with a registration statement that has been declared effective or (ii) in the opinion of
        counsel for the Company, such Securities may be sold without registration under the Securities Act, as well as any applicable “blue sky” or state securities laws:

        THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS. SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES AND MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE
        OF AN EFFECTIVE REGISTRATION STATEMENT FILED BY THE ISSUER WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION COVERING SUCH SECURITIES UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED.

         

        
            

            
                	
                            - 2 -

                        

            

             

            

        

        

        

        

        (i)         Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved the Securities. There is no government or other insurance covering any of the Securities.

        (j)         The Subscriber and its Advisors, if any, have had a reasonable opportunity to ask questions of and receive answers from a person or persons acting on behalf of the Company concerning the business, financial condition, results of operations and prospects of the Company, and all such questions have been answered to the full
        satisfaction of the Subscriber and its Advisors, if any.

        (k)        The Subscriber is unaware of, is in no way relying on, and did not become aware of the Subscription opportunity through or as a result of, any form of general solicitation or general advertising including, without limitation, any article, notice, advertisement or other communication published in any newspaper, magazine or similar
        media or broadcast over television or radio, or electronic mail over the Internet, in connection with the Subscription and is not subscribing for Units and did not become aware of the Subscription through or as a result of any seminar or meeting to which the Subscriber was invited by, or any solicitation of a subscription by, a person not previously known to the Subscriber in connection with investments in securities generally.

        (l)         The Subscriber has taken no action that would give rise to any claim by any person for brokerage commissions, finders’ fees or the like relating to this Agreement or the transactions contemplated hereby.

        (m)       The Subscriber is not relying on the Company or any of its employees, agents, or advisors with respect to the legal, tax, economic and related considerations of an investment in the Securities, and the Subscriber has relied on the advice of, or has consulted with, only its own Advisors.

        (n)        The Subscriber acknowledges that any estimates or forward-looking statements or projections furnished by the Company to the Subscriber were prepared by the management of the Company in good faith, but that the attainment of any such projections, estimates or forward-looking statements cannot be guaranteed by the Company or its
        management and should not be relied upon.

        (o)        No oral or written representations have been made, or oral or written information furnished, to the Subscriber or its Advisors, if any, in connection with the offering that are in any way inconsistent with the information contained herein.

        (p)        (For ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has been informed of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest “plan assets” (as such
        term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require diversification of plan assets and impose other fiduciary responsibilities. The Subscriber or Plan fiduciary (i) is responsible for the decision to invest in the Company; (ii) is independent of the Company and any of its affiliates; (iii) is qualified to make such investment decision; and (iv) in making such decision, the Subscriber or Plan fiduciary has not relied primarily on any advice or
        recommendation of the Company or any of its affiliates.

        (q)        This Agreement is not enforceable by the Subscriber unless it has been accepted by the Company, and the Subscriber acknowledges and agrees that the Company reserves the right to reject any subscription for any reason.

        (r)         The Subscriber will indemnify and hold harmless the Company and, where applicable, its directors, officers, employees, agents, advisors, affiliates and shareholders, and each other person, if any, who controls any of the foregoing from and against any and all loss, liability, claim, damage and expense whatsoever (including, but
        not limited to, any and all fees, costs and expenses whatsoever reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or investigation whether commenced or threatened) (a “Loss”) arising out of or based upon any representation or warranty of the Subscriber contained herein or in any document furnished by the Subscriber to the Company in connection herewith being
        untrue in any material respect or any breach or failure by the Subscriber to comply with any covenant or agreement made by the Subscriber herein or therein; provided, however, that the Subscriber shall not be liable for any Loss that in the aggregate exceeds the value of such Subscriber’s Consideration Shares tendered hereunder.

        (s)        The Subscriber is, and on each date on which the Subscriber continues to own restricted securities from the offering, will be an “Accredited Investor” as defined in Rule 501(a) under the Securities Act. In general, an 

         

        
            

            
                	
                            - 3 -

                        
	 

            

            

            

            

            “Accredited Investor” is deemed to be an institution with assets in excess of $5,000,000 or individuals with net worth in excess of $1,000,000 or annual income exceeding $200,0000 or $300,000 jointly with his or her spouse.

            (t)         The Subscriber, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the offering, and has so evaluated the merits and risks of such investment. The Subscriber has not authorized any
            person or entity to act as its Purchaser Representative (as that term is defined in Regulation D of the General Rules and Regulations under the Securities Act) in connection with the offering. The Subscriber is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

            (u)         The foregoing representations, warranties and agreements shall survive the Closing.

            
                	
                            3.

                        	
                            THE COMPANY’S REPRESENTATIONS, WARRANTIES AND COVENANTS

                        

            

            The Company hereby acknowledges, agrees with and represents, warrants and covenants to the Subscriber, as follows:

            (a)        The Company has the corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder. This Agreement has been duly authorized, executed and delivered by the Company and is valid, binding and enforceable against the Company in accordance with its terms.

            (b)        The Securities to be issued to the Subscriber pursuant to this Agreement, when issued and delivered in accordance with the terms of this Agreement, will be duly and validly issued and will be fully paid and non-assessable.

            (c)        Neither the execution and delivery nor the performance of this Agreement by the Company will conflict with the Company’s organizational materials, as amended to date, or result in a breach of any terms or provisions of, or constitute a default under, any material contract, agreement or instrument to which the Company is a
            party or by which the Company is bound.

            (d)        Any information furnished by the Company in connection with the offering is true and correct in all material respects as of its date.

            (e)        The Company acknowledges and agrees that the Subscriber is acting solely in the capacity of an arm’s length purchaser with respect to the Securities and the transactions contemplated hereby. The Company further acknowledges that the Subscriber is not acting as a financial advisor or fiduciary of the Company (or in any
            similar capacity) with respect to this Agreement and the transactions contemplated hereby and any advice given by the Subscriber or any of its representatives or agents in connection with this Agreement and the transactions contemplated hereby is merely incidental to the Subscriber’s purchase of the Units. The Company further represents to the Subscriber that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the
            transactions contemplated hereby by the Company and its representatives.

            (f)        The Company will indemnify and hold harmless the Subscriber and, where applicable, its directors, officers, employees, agents, advisors and shareholders, from and against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses whatsoever reasonably
            incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or investigation whether commenced or threatened) arising out of or based upon any representation or warranty of the Company contained herein or in any document furnished by the Company to the Subscriber in connection herewith being untrue in any material respect or any breach or failure by the Company to comply with any covenant or agreement made by the Company to the Subscriber
            in connection therewith, provided, however, that the Company’s liability shall not exceed the value of the Subscriber’s Consideration Shares tendered hereunder.

            (g)         The foregoing representations, warranties and agreements shall survive the Closing.

             

            
                

                
                    	
                                - 4 -

                            

                

                 

                

            

            

            

            

            
                	
                            4.

                        	
                            NOTICES TO THE SUBSCRIBER

                        

            

            (a)        THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. THE SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SEC, ANY STATE SECURITIES COMMISSION OR OTHER
            REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF ANY INFORMATION FURNISHED IN CONNECTION WITH THIS OFFERING. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

            (b)        THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT, AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE SUBSCRIBER SHOULD BE AWARE THAT IT MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF
            THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

            
                	
                            5.

                        	
                            MISCELLANEOUS PROVISIONS

                        

            

            (a)        All parties hereto have been represented by counsel, and no inference shall be drawn in favor of or against any party by virtue of the fact that such party’s counsel was or was not the principal draftsman of this Agreement.

            (b)        Each of the parties hereto shall be responsible to pay the costs and expenses of its own legal counsel in connection with the preparation and review of this Agreement and related documentation.

            (c)        Neither this Agreement, nor any provisions hereof, shall be waived, modified, discharged or terminated except by an instrument in writing signed by the party against whom any waiver, modification, discharge or termination is sought.

            (d)        The representations, warranties and agreement of the Subscriber and the Company made in this Agreement shall survive the execution and delivery of this Agreement and the delivery of the Securities.

            (e)        Any party may send any notice, request, demand, claim or other communication hereunder to the Subscriber at the address set forth on the signature page of this Agreement or to the Company at the address set forth above using any means (including personal delivery, expedited courier, messenger service, fax, ordinary mail or
            electronic mail), but no such notice, request, demand, claim or other communication will be deemed to have been duly given unless and until it actually is received by the intended recipient. Any party may change the address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other parties written notice in the manner herein set forth.

            (f)        Except as otherwise provided herein, this Agreement shall be binding upon, and inure to the benefit of, the parties to this Agreement and their heirs, executors, administrators, successors, legal representatives and assigns. If the Subscriber is more than one person or entity, the obligation of the Subscriber shall be joint and
            several and the agreements, representations, warranties and acknowledgments contained herein shall be deemed to be made by, and be binding upon, each such person or entity and its heirs, executors, administrators, successors, legal representatives and assigns. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among
            them.

            (g)         This Agreement is not transferable or assignable by the Subscriber.

            (h)        This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without giving effect to conflicts of law principles.

            (i)         The Company and the Subscriber hereby agree that any dispute that may arise between them arising out of or in connection with this Agreement shall be adjudicated before a court located in Las Vegas, Nevada, and they hereby submit to the exclusive jurisdiction of the federal and state courts of the State of Nevada 

             

            
                

                
                    	
                                - 5 -

                            
	 

                

                

                

                

                located in Las Vegas with respect to any action or legal proceeding commenced by any party, and irrevocably waive any objection they now or hereafter may have respecting the venue of any such action or proceeding brought in such a court or respecting the fact that such court is an inconvenient forum, relating to or arising out of this Agreement or any acts or omissions relating to the sale of the
                securities hereunder, and consent to the service of process in any such action or legal proceeding by means of registered or certified mail, return receipt requested, postage prepaid, in care of the address set forth herein or such other address as either party shall furnish in writing to the other.

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

                [Signature Pages Follow]

                 

                
                    

                    
                        	
                                    - 6 -

                                

                    

                     

                    

                

                

                

                

                ALL SUBSCRIBERS MUST COMPLETE THIS PAGE

                 

                IN WITNESS WHEREOF, the Subscriber has executed this Agreement on the ____ day of ____________ 2009.

                 

                
                    	
                                ___________________

                            	
                                x $0.19_ for each Unit

                            	
                                = $__________________.

                            
	
                                Shares 

                            	
                                 

                            	
                                Consideration 

                            

                

                 

                Manner in which Title is to be held (Please Check One):

                
                    	
                                1.

                            	
                                ___

                            	
                                Individual

                            	
                                7.

                            	
                                ___

                            	
                                Trust/Estate/Pension or Profit sharing Plan

                                Date Opened:______________

                            
	
                                2.

                            	
                                ___

                            	
                                Joint Tenants with Right of Survivorship

                            	
                                8.

                            	
                                ___

                            	
                                As a Custodian for

                                ________________________________

                                Under the Uniform Gift to Minors Act of the State of

                                ________________________________

                            
	
                                3.

                            	
                                ___

                            	
                                Community Property

                            	
                                9.

                            	
                                ___

                            	
                                Married with Separate Property

                            
	
                                4.

                            	
                                ___

                            	
                                Tenants in Common

                            	
                                10.

                            	
                                ___

                            	
                                Keogh

                            
	
                                5.

                            	
                                ___

                            	
                                Corporation/Partnership/ Limited Liability Company

                            	
                                11.

                            	
                                ___

                            	
                                Tenants by the Entirety

                            
	
                                6.

                            	
                                ___

                            	
                                IRA

                            	
                                 

                            	
                                 

                            	
                                 

                            

                

                 

                ALTERNATIVE DISTRIBUTION INFORMATION

                To direct distribution to a party other than the registered owner, complete the information below. YOU MUST COMPLETE THIS SECTION IF THIS IS AN IRA INVESTMENT.

                Name of Firm (Bank, Brokerage, Custodian):

                Account Name:

                Account Number:

                Representative Name:

                Representative Phone Number:

                Address:

                City, State, Zip:

                 

                
                    

                    
                        	
                                    - 7 -

                                

                    

                     

                    

                

                

                

                

                IF MORE THAN ONE SUBSCRIBER, EACH SUBSCRIBER MUST SIGN.

                INDIVIDUAL SUBSCRIBERS MUST COMPLETE THIS PAGE 8.

                SUBSCRIBERS WHICH ARE ENTITIES MUST COMPLETE PAGE 9.

                EXECUTION BY NATURAL PERSONS

                
                    	
                                _____________________________________________________________________________

                                Exact Name in Which Title is to be Held

                            
	 	 	 
	
                                _________________________________

                                Name (Please Print)

                            	
                                 

                            	
                                _________________________________

                                Name of Additional Purchaser

                            
	 	 	 
	
                                _________________________________

                                Residence: Number and Street

                            	
                                 

                            	
                                _________________________________

                                Address of Additional Purchaser

                            
	 	 	 
	
                                _________________________________

                                City, State and Zip Code

                            	
                                 

                            	
                                _________________________________

                                City, State and Zip Code

                            
	 	 	 
	
                                _________________________________

                                Social Security Number

                            	
                                 

                            	
                                _________________________________

                                Social Security Number

                            
	 	 	 
	
                                _________________________________

                                Telephone Number

                            	
                                 

                            	
                                _________________________________

                                Telephone Number

                            
	 	 	 
	
                                _________________________________

                                Fax Number (if available)

                            	
                                 

                            	
                                ________________________________

                                Fax Number (if available)

                            
	 	 	 
	
                                _________________________________

                                E-Mail (if available)

                            	
                                 

                            	
                                ________________________________

                                E-Mail (if available)

                            
	 	 	 
	
                                __________________________________

                                (Signature)

                                 

                                 

                            	
                                 

                            	
                                ________________________________

                                (Signature of Additional Purchaser)

                            
	
                                ACCEPTED this ___ day of _________ 2009, on behalf of the Company.

                            
	 	 
	
                                 

                            	
                                 

                                By:   _________________________________

                                Name:

                                Title:

                            
	
                                 

                            	
                                 

                            

                

                 

                 

                
                    

                    
                        	
                                    - 8 -

                                

                    

                     

                    

                

                

                

                

                EXECUTION BY SUBSCRIBER WHICH IS AN ENTITY

                (Corporation, Partnership, LLC, Trust, Etc.)

                 

                
                    	
                                _____________________________________________________________________________

                                Name of Entity (Please Print)

                            
	
                                Date of Incorporation or Organization:

                            
	
                                State of Principal Office:

                            
	
                                Federal Taxpayer Identification Number:

                                ____________________________________________

                                Office Address

                                 

                                ____________________________________________

                                City, State and Zip Code

                                 

                                ____________________________________________

                                Telephone Number

                                 

                                ____________________________________________

                                Fax Number (if available)

                                 

                                ____________________________________________

                                E-Mail (if available)

                            
	
                                 

                            	
                                By: _________________________________

                                Name:

                                Title:

                            
	 	 
	
                                [seal]

                                Attest: _________________________________

                                (If Entity is a Corporation)

                            	
                                _________________________________

                                _________________________________

                                Address

                            
	
                                 

                            	
                                 

                            
	
                                ACCEPTED this ____ day of __________ 2009, on behalf of the Company.

                            
	
                                 

                            	
                                 

                                 

                                By: _________________________________

                                Name:

                                Title:

                            

                

                 

                 

                
                    

                    
                        	
                                    - 9 -

                                
	 

                    

                    

                    

                    

                    INVESTOR QUESTIONNAIRE

                    Instructions: Check all boxes below which correctly describe you.

                    
                        	
                                    o

                                	
                                    You are (i) a bank, as defined in Section 3(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), (ii) a savings and loan association or other institution, as
                                    defined in Section 3(a)(5)(A) of the Securities Act, whether acting in an individual or fiduciary capacity, (iii) a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (iv) an insurance company as defined in Section 2(13) of
                                    the Securities Act, (v) an investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), (vi) a business development company as defined in Section 2(a)(48) of the Investment Company Act, (vii) a
                                    Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301 (c) or (d) of the Small Business Investment Act of 1958, as amended, (viii) a plan established and maintained by a state, its political subdivisions, or an agency or instrumentality of a state or its political subdivisions, for the benefit of its employees and you have total assets in excess of $5,000,000,
                                    or (ix) an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and (1) the decision that you shall subscribe for and purchase shares of common stock and warrants to purchase common stock (the “Units”), is made by a plan
                                    fiduciary, as defined in Section 3(21) of ERISA, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or (2) you have total assets in excess of $5,000,000 and the decision that you shall subscribe for and purchase the Shares is made solely by persons or entities that are accredited investors, as defined in Rule 501 of Regulation D promulgated under the Securities Act
                                    (“Regulation D”) or (3) you are a self-directed plan and the decision that you shall subscribe for and purchase the Units is made solely by persons or entities that are accredited investors.

                                

                    

                    
                        	
                                    o

                                	
                                    You are a private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended.

                                

                    

                    
                        	
                                    o

                                	
                                    You are an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), a corporation, Massachusetts or similar business trust or a partnership, in each case not formed for the specific purpose of making an investment in the Units and
                                    its underlying securities in excess of $5,000,000.

                                

                    

                    
                        	
                                    o

                                	
                                    You are a director or executive officer of KeyOn Communications, Inc.

                                

                    

                    
                        	
                                    o

                                	
                                    You are a natural person whose individual net worth, or joint net worth with your spouse, exceeds $1,000,000 at the time of your subscription for and purchase of the Units.

                                

                    

                    
                        	
                                    o

                                	
                                    You are a natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with your spouse in excess of $300,000 in each of the two most recent years, and who has a reasonable expectation of reaching the same income level in the current year.

                                

                    

                    
                        	
                                    o

                                	
                                    You are a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Units and whose subscription for and purchase of the Units is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D.

                                

                    

                    
                        	
                                    o

                                	
                                    You are an entity in which all of the equity owners are persons or entities described in one of the preceding paragraphs.

                                

                    

                     

                    
                        

                        
                            	
                                        - 10 -

                                    

                        

                         

                        

                    

                    

                    

                    

                    Check all boxes below which correctly describe you.

                    With respect to this investment in the Units, your:

                    
                        	
                                     

                                	
                                    Investment Objectives: 

                                	
                                    x Aggressive Growth

                                	
                                    x Speculation

                                

                    

                    
                        	
                                     

                                	
                                    Risk Tolerance: 

                                	
                                    o Low Risk 

                                	
                                    o Moderate Risk 

                                	
                                    x High Risk

                                

                    

                    
                        	
                                    Are you associated with a NASD Member Firm? 

                                	
                                    o Yes 

                                	
                                    o No

                                

                    

                    Your initials (purchaser and co-purchaser, if applicable) are required for each item below:

                    
                        	
                                    ____   ____  

                                	
                                    I/We understand that this investment is not guaranteed.

                                

                    

                    
                        	
                                    ____   ____  

                                	
                                    I/We are aware that this investment is not liquid.

                                

                    

                    
                        	
                                    ____   ____  

                                	
                                    I/We are sophisticated in financial and business affairs and are able to evaluate the risks and merits of an investment in this offering.

                                

                    

                    
                        	
                                    ____   ____  

                                	
                                    I/We confirm that this investment is considered “high risk.” (This type of investment is considered high risk due to the inherent risks including lack of liquidity and lack of diversification.  Success or failure of private placements such as this is dependent on the corporate issuer of these securities
                                    and is outside the control of the investors. While potential loss is limited to the amount invested, such loss is possible.)

                                

                    

                     

                    The Subscriber hereby represents and warrants that all of its answers to this Investor Questionnaire are true as of the date of its execution of the Subscription Agreement pursuant to which it purchased the Units.

                    
                        	
                                    

                                    

                                    ___________________________________

                                    Name of Purchaser [please print]

                                    ___________________________________

                                    Signature of Purchaser (Entities please

                                    provide signature of Purchaser’s duly

                                    authorized signatory.)

                                    ___________________________________

                                    Name of Signatory (Entities only)

                                    ___________________________________

                                    Title of Signatory (Entities only)

                                	
                                    

                                    

                                    ___________________________________

                                    Name of Co-Purchaser [please print]

                                    ___________________________________

                                    Signature of Co-Purchaser

                                

                    

                     

                     

                    
                        

                        
                            	
                                        - 11 -

                                    

                        

                         

                        

                    

                    

                    

                    

                    VERIFICATION OF INVESTMENT ADVISOR/BROKER

                    I state that I am familiar with the financial affairs and investment objectives of the investor named above and reasonably believe that a purchase of the securities is a suitable investment for this investor and that the investor, either individually or together with his or her purchaser representative, understands the terms of and is able to evaluate the merits of this
                    offering. I acknowledge:

                    
                        	
                                     

                                	
                                    (a)

                                	
                                    that I have reviewed the Subscription Agreement and forms of securities presented to me, and attachments (if any) thereto;

                                

                    

                    
                        	
                                     

                                	
                                    (b)

                                	
                                    that the Subscription Agreement and attachments thereto have been fully completed and executed by the appropriate party; and

                                

                    

                    
                        	
                                     

                                	
                                    (c)

                                	
                                    that the subscription will be deemed received by the Company upon acceptance of the Subscription Agreement.

                                

                    

                    
                        	
                                     

                                	
                                    Deposit securities from this offering directly to purchaser’s account?

                                	
                                    o Yes 

                                	
                                    o No

                                
	 	If “Yes,” please indicate the account number : _____________________________________	 	 

                    

                    

                    
                        	 	 
	
                                    _____________________________________

                                	
                                    ____________________________________

                                
	Broker/Dealer	Account Executive
	 	 
	
                                    _____________________________________

                                	
                                    ____________________________________

                                
	(Name of Broker/Dealer)	(Signature)
	 	 
	
                                    _____________________________________

                                	
                                    ____________________________________

                                
	(Street Address of Broker/Dealer Office)	(Print Name)
	 	 
	
                                    _____________________________________

                                	
                                    ____________________________________

                                
	(City of Broker/Dealer Office) (State) (Zip)	(Representative I.D. Number)
	 	 
	
                                    _____________________________________

                                	
                                    ____________________________________

                                
	(Telephone Number of Broker/Dealer Office)	(Date)
	 	 
	
                                    _____________________________________

                                	
                                    ____________________________________

                                
	(Fax Number of Broker/Dealer Office)	(E-mail Address of Account Executive)

                    

                     

                     

                    
                        

                        
                            	
                                        - 12 -

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