Document:

Unassociated Document

    NANOVIRICIDES,
      INC.

    

    INVESTOR SUBSCRIPTION
      AGREEMENT
      (the
      "Subscription Agreement") dated _______________, 2005 between NANOVIRICIDES,
      INC.,
      a
      publicly-traded Nevada corporation with principal offices at 135 Wood Street,
      West Haven, Connecticut 06516 (the "Company") and the person or persons
      executing this Subscription Agreement on the last page hereof (the
      "Subscriber"). All documents mentioned herein are incorporated by reference.
      

    

    1.
      Description
      of the Offering.
      This
      Subscription Agreement is for units (the “Units”) consisting of 200,000 shares
      of the Company’s common stock, par value $.001 per share (the “Common Stock”)
      and 100,000 Class A Warrants (the “Warrants”) at an exercise price of $0.25 per
      each Warrant exercised. This Offering (the “Offering”) is made only to
      accredited investors who qualify as accredited investors pursuant to the
      suitability standards for investors described under Regulation D of the
      Securities Act and who have no need for liquidity in their investments. The
      Units are being offered at the minimum investment of $100,000. However, the
      Company reserves the right, in its sole discretion, to accept fractional
      subscriptions. Prior to this Offering there was no public market for the Units
      and no assurance can be given that a market will develop for the Units, or
      if
      developed, that it will be maintained so that any subscribers in this Offering
      may avail any benefit from the same. 

    

    THE
      SECURITIES OFFERED HEREBY ARE SPECULATIVE AND INVOLVE A HIGH DEGREE OF RISK
      AND
      SHOULD NOT BE PURCHASED BY ANYONE WHO CANNOT AFFORD THE LOSS OF THEIR ENTIRE
      INVESTMENT. THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT, OR THE SECURITIES LAWS OF ANY STATE, OR OTHER JURISDICTION
      AND
      ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. THESE SECURITIES MAY NOT
      BE
      TRANSFERRED, SOLD, PLEDGED, HYPOTHECATED OR ASSIGNED EXCEPT AS PERMITTED UNDER
      SUCH ACT OR SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION
      THEREFROM.

     

    2.
      Terms
      of the Offering. The
      Company is offering a maximum of ten (10) Units for a maximum offering of Two
      Million Dollars ($2,000,000). Each Unit shall consist of 200,000 shares of
      the
      Company’s Common Stock and 100,000 Warrants. Each Warrant may be exercised
      immediately upon issuance to Subscribers and shall expire three (3) years after
      issuance. (The form of the Class A Warrants is attached hereto as Exhibit A.)
      If
      the Company registers any securities for public resale, the Subscribers who
      acquired the Units in the Offering will have the right to include any shares
      of
      Common Stock, as well as those shares of Common Stock underlying the Warrants,
      in the Offering included in such registration.

    

    3.
      Other
      Terms of the Offering. 
      The
      execution of this Subscription Agreement shall constitute an offer by the
      Subscriber to subscribe for the Units in the amount and on the terms specified
      herein. The Subscriber must also complete and execute the Subscriber
      Questionnaire attached hereto. The Company reserves the right, in its sole
      discretion, to reject in whole or in part, any subscription offer. If the
      Subscriber's offer is accepted, the Company will execute a copy of this
      Subscription Agreement and return it to Subscriber. The Company, may at its
      sole
      discretion, accept fractional subscriptions. 

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    

    4.
      Subscription
      Payment.
      Subscription for the Units requires a minimum total cash investment of $100,000.
      The subscription price will be payable in full upon acceptance of the
      subscription. The Company reserves the right to accept fractional subscriptions.
      

    

    5.
      The
      Company's Representations and Warranties.
      The
      Company hereby represents and warrants as follows: 

     

    (a)
      The
      Company warrants and covenants that there are no material misstatements or
      omissions in this Subscription Agreement or any information provided of the
      Offering documents herein. 

    

    (b)
      The
      Company is a corporation duly formed and in good standing under the laws of
      the
      State of Nevada with full power and authority to conduct its business as
      presently contemplated; and

     

    (c)
      The
      Company has the power to execute, deliver and perform this Subscription
      Agreement and any other agreement contemplated herein; 

    

    6.
      Subscriber's
      Representations, Warranties and Covenants.
      The
      undersigned understands and acknowledges that the Units are being offered and
      sold under one or more of the exemptions from registration provided for in
      Section 3(b), 4(2) and 4(6) of the Securities Act of 1933, as amended (the
      “Securities Act”) including, Regulation D promulgated thereunder, that the
      undersigned acknowledges that the Units are being purchased without the
      undersigned being offered or furnished any offering literature, prospectus
      or
      other material, financial or otherwise, and that this action has not been
      scrutinized by the United States Securities and Exchange Commission or by any
      regulatory authority charged with the administration of the securities laws
      of
      any state. The undersigned hereby further represents and warrants as
      follows:

    

    (a)
      The
      undersigned confirms that he understands and has fully considered, for purposes
      of this investment, the risks of an investment in the Units and understands
      that: (i) this investment is suitable only for an investor who is able to bear
      the economic consequences or losing his entire investment, (ii) the purchase
      of
      the Units is a speculative investment which involves a high degree of risk
      of
      loss by the undersigned of his entire investment, and (iii) that there will
      be
      no public market for the Units and accordingly, it may not be possible for
      him
      to liquidate his investment in the Units in case of an emergency; 

    

    (b)
      The
      Subscriber is an "Accredited Investor" as defined in Rule 501(a) of Regulation
      D
      under the Securities Act. This representation is based on the fact that the
      Subscriber, inter alia, is an accredited individual who, together with the
      Subscriber’s spouse, have a net worth of at least $1,000,000 or the Subscriber,
      individually, has had net income of not less than $200,000 during the last
      two
      years, and reasonably anticipates that the Subscriber will have an income of
      at
      least $200,000 during the present year and the next year;

    

    (c)
      If
      the Subscriber is a corporation, partnership, trust or any unincorporated
      association: (i) the person executing this Subscription Agreement does so with
      full right, power and authority to make this investment; (ii) that such entity
      was not formed for the specific purpose of making an investment in the Company;
      and (iii) that all further representations and warranties made herein are true
      and correct with respect to such corporation, partnership, trust and
      unincorporated association; 

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    (d)
      The
      address set forth below is the Subscriber's true and correct residence or place
      of business, and the Subscriber has no present intention of becoming a resident
      of any other state or jurisdiction; 

    

    (e)
      The
      Subscriber understands and agrees that the Company prohibits the investment
      of
      funds by any persons or entities that are acting, directly or indirectly, (i)
      in
      contravention of any U.S. or international laws and regulations, including
      anti-money laundering regulations or conventions, (ii) on behalf of terrorists
      or terrorist organizations, including those persons or entities that are
      included on the List of Specially Designated Nationals and Blocked Persons
      maintained by the U.S. Treasury Department's Office of Foreign Assets
      Control(1) ("OFAC"), as such list may be amended
      from time to time, (iii) for a senior foreign political figure, any member
      of a
      senior foreign political figure’s immediate family or any close associate of a
      senior foreign political figure(2), unless the
      Company, after being specifically notified by the Subscriber in writing that
      it
      is such a person, conducts further due diligence, and determines that such
      investment shall be permitted, or (iv) for a foreign shell bank (3)(such persons or entities in (i) - (iv)
      are collectively
      referred to as "Prohibited Persons"). 

    

    (f) The
      Subscriber represents, warrants and covenants that: (i) it is not, nor is any
      person or entity controlling, controlled by or under common control with the
      Subscriber, a Prohibited Person, and (ii) to the extent the Subscriber has
      any
      beneficial owners(4), (a) it has carried out
      thorough due diligence to establish the identities of such beneficial owners,
      (b) based on such due diligence, the Subscriber reasonably believes that no
      such
      beneficial owners are Prohibited Persons, (c) it holds the evidence of such
      identities and status and will maintain all such evidence for at least five
      years from the date of the Subscriber's complete withdrawal from the Company,
      and (d) it will make available such information and any additional information
      requested by the Company that is required under applicable regulations.

    

    (g) If
      any of
      the foregoing representations, warranties or covenants ceases to be true or
      if
      the Company no longer reasonably believes that it has satisfactory evidence
      as
      to their truth, notwithstanding any other agreement to the contrary, the Company
      may, in accordance with applicable regulations, freeze the Subscriber's
      investment, either by prohibiting additional investments, declining or
      suspending any withdrawal requests and/or segregating the assets constituting
      the investment, or the Subscriber's investment may immediately be involuntarily
      withdrawn by the Company, and the Company may also be required to report such
      action and to disclose the Subscriber's identity to OFAC or other authority.
      In
      the event that the Company is required to take any of the foregoing actions,
      the
      Subscriber understands and agrees that it shall have no claim against the
      Company, and its respective affiliates, directors, members, partners,
      shareholders, officers, employees and agents for any form of damages as a result
      of any of the aforementioned actions. 

     

    
      
        

      

      (1) The
        OFAC
        list may be accessed on the web at http://www.treas.gov/ofac.

      (2) Senior
        foreign political figure means a senior official in the executive, legislative,
        administrative, military or judicial branches of a foreign government (whether
        elected or not), a senior official of a major foreign political party, or
        a
        senior executive of a foreign government-owned corporation. In addition,
        a
        senior foreign political figure includes any corporation, business or other
        entity that has been formed by, or for the benefit of, a senior foreign
        political figure. The immediate family of a senior foreign political figure
        typically includes the political figure’s parents, siblings, spouse, children
        and in-laws. A close associate of a senior foreign political figure is a
        person
        who is widely and publicly known internationally to maintain an unusually
        close
        relationship with the senior foreign political figure, and includes a person
        who
        is in a position to conduct substantial domestic and international financial
        transactions on behalf of the senior foreign political figure.

      (3) Foreign
        shell bank means a foreign bank without a physical presence in any country,
        but
        does not include a regulated affiliate. A post office box or electronic address
        would not be considered a physical presence. A regulated affiliate means
        a
        foreign shell bank that: (1) is an affiliate of a depository institution,
        credit
        union, or foreign bank that maintains a physical presence in the United States
        or a foreign country, as applicable; and (2) is subject to supervision by
        a
        banking authority in the country regulating such affiliated depository
        institution, credit union, or foreign bank.

      (4) Beneficial
        owners will include, but not be limited to: (i) shareholders of a corporation;
        (ii) partners of a partnership; (iii) members of a limited liability company;
        (iv) investors in a fund-of-funds; (v) the grantor of a revocable or grantor
        trust; (vi) the beneficiaries of an irrevocable trust; (vii) the individual
        who
        established an IRA; (viii) the participant in a self-directed pension plan;
        (ix)
        the sponsor of any other pension plan; and (x) any person being represented
        by
        the Subscriber in an agent, representative, intermediary, nominee or similar
        capacity. If the beneficial owner is itself an entity, the information and
        representations set forth herein must also be given with respect to its
        individual beneficial owners. If the Subscriber is a publicly-traded company,
        it
        need not conduct due diligence as to its beneficial owners.

      

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    

    (h) The
      Subscriber agrees to indemnify and hold harmless the Company, its respective
      affiliates, directors, members, partners, shareholders, officers, employees
      and
      agents from and against any and all losses, liabilities, damages, penalties,
      costs, fees and expenses (including legal fees and disbursements) which may
      result, directly or indirectly, from any inaccuracy in or breach of any
      representation, warranty, covenant or agreement set forth in this Agreement.
      

    

    (i)
      The
      Subscriber has received and read or reviewed, is familiar with and fully
      understands the documents furnished by the Company. The Subscriber also fully
      understands this Subscription Agreement and the risks associated with this
      interest and confirms that all documents, records and books pertaining to the
      Subscriber’s investment in the Units and requested by the Subscriber have been
      made available or delivered to the Subscriber by the Company; 

    

    (j)
      The
      Subscriber has had an opportunity to ask questions of and receive answers from,
      the Company or a person or persons acting on its behalf, concerning the terms
      and conditions of this investment and confirms that all documents, records
      and
      books pertaining to the investment in the Units and requested by the Subscriber
      has been made available or delivered to the Subscriber;

    

    (k)
      The
      Subscriber will be acquiring the Units solely for the Subscriber's own account,
      for investment and not with a view toward the resale, distribution, subdivision
      or fractionalization thereof; and the Subscriber has no present plans to enter
      into any such contract, undertaking, agreement or arrangement;

    

    (l)
      The
      Subscriber acknowledges and understands that prior to this Offering there was
      no
      public market for the Units and no assurance can be given that a public market
      will develop for the Units offered hereby, or if developed, that it will be
      maintained so that any subscribers in this Offering may avail any benefit from
      the same;

    

    (m)
      The
      Subscriber's compliance with the terms and conditions of this Subscription
      Agreement will not conflict with any instrument or agreement pertaining to
      the
      Units or the transactions contemplated herein; and will not conflict in, result
      in a breach of, or constitute a default under any instrument to which the
      Subscriber is a party;

    

    (n)
      The
      Subscriber will seek its own legal, tax and investment advice concerning tax
      implications attendant upon the purchase of the Units and understands and
      accepts that the Company is relying upon this representation insofar as
      disclosure of tax matters is concerned; 

    

    (o)
      The
      Subscriber hereby acknowledges and represents that the Subscriber is aware
      of
      the information set forth in this document and in any exhibits attached hereto;
      and

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    

    (p)
      The
      foregoing representations and warranties are true and accurate as of the date
      hereof and shall be true and accurate as of the date of delivery of the
      subscription to the Company and shall survive such delivery. If, in any respect,
      such representations and warranties shall not be true and accurate, the
      Subscriber shall give written notice of such fact to the Company, specifying
      which representations and warranties are not true and accurate and the reasons
      therefor. 

     

    7.
      Risk
      Factors. THE SUBSCRIBER ACKNOWLEDGES THAT THERE ARE SIGNIFICANT RISKS ASSOCIATED
      WITH THE PURCHASE OF THE DEBENTURES AND THAT SUCH SECURITIES ARE HIGHLY
      SPECULATIVE AND SHOULD NOT BE PURCHASED BY ANYONE WHO CANNOT AFFORD A TOTAL
      LOSS
      OF HIS OR HER ENTIRE INVESTMENT. The
      Subscriber represents and warrants that he or she has carefully considered
      and
      reviewed the following risks in reaching a determination to purchase a
      Unit:

    

    It
      Is
      Difficult to Evaluate the Company’s Business and Prospects Because It Does Not
      Have Any Operating History 

    

    The
      Company has already commenced operations but has yet to generate any revenues
      from operations and is still in the development stage. The Company’s short
      existence, coupled with its inability to transition out of the development
      stage
      and lack of working capital, makes it difficult to evaluate the Company’s
      current business and prospects or to accurately predict its future revenue
      or
      results of operations. The Company’s revenue and income potential continue to be
      unproven, and its business model is evolving. Accordingly, the Company is
      subject to all of the risks, uncertainties, expenses and difficulties frequently
      encountered by companies seeking to break into a difficult-to-penetrate and
      rapidly changing industry segment.

    

    The
      Company May Never Earn a Profit

    

    As
      a
      company that has yet to commence operations with an unproven business model,
      the
      Company may continue to be unprofitable. The Company continues to experience
      losses and is economically and financially dependent upon the implementation
      of
      its business plan and the commencement of revenues from operations. The Company
      expects that its losses and negative cash flow to continue for the foreseeable
      future. The Company anticipates that its losses will increase significantly
      from
      current levels because it plans to significantly increase its expenditures
      for
      research and development, equipment required for research, sales and marketing
      of its products and related services. With increased expenses, the Company
      will
      need to generate significant revenue to achieve profitability. Consequently,
      it
      is possible that the Company may never achieve profitability, and even if it
      does achieve profitability, it may not sustain or increase profitability on
      a
      quarterly or annual basis in the future. The inability to become profitable
      may
      result in the Company being required to file for protection under the federal
      bankruptcy laws.

    

    The
      Company is Undercapitalized, its Business Model is Unproven and it May Be Unable
      to Continue its Business

     

    If
      the
      Company is to survive, it will need to start generating revenue from operations
      within three months from the date of this Offering. The continued conduct of
      operations beyond three months will require the Company to raise additional
      capital. Since any such additional financing will probably be private and
      involve restricted (i.e., unregistered) securities, there can be little
      assurance that the Company will be successful is raising any additional capital.
      In addition, if the Company raises additional funds through the issuance of
      equity securities, its stockholders will likely experience dilution of their
      ownership interest, and the newly-issued securities may have rights superior
      to
      those of the shares held by present stockholders. If the Company raises
      additional funds by issuing debt, it may be subject to limitations on its
      operations, including limitations on the payment of dividends.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    

    The
      Company expects that its losses and negative cash flow to continue for the
      foreseeable future. The Company anticipates that its losses will increase
      significantly from current levels because it plans to significantly increase
      its
      expenditures for sales and marketing of its products. With increased expenses,
      the Company will need to generate significant revenue to achieve profitability.
      Consequently, it is possible that the Company may never achieve profitability,
      and even if it does achieve profitability, it may not sustain or increase
      profitability on a quarterly or annual basis in the future. The inability to
      become profitable may result in the Company being required to file for
      protection under the federal bankruptcy laws.

    

    The
      Company is Dependent Upon Its Executive Officers and Directors

    

    The
      Company’s success is dependent on the efforts and abilities of its officers and
      directors. The Company currently does not have employment agreements with its
      executive officers. Therefore, there can be no assurances that the Company
      will
      be able to retain its current officers and directors. The loss of the services
      of any of these individuals could materially and adversely affect the
      development of the Company’s business plan.

    

    The
      Company’s ability to attract and retain qualified technical, marketing and
      management personnel is critical to its operations. While management believes
      it
      will be able to attract and retain sufficient professional employees to meet
      its
      needs, there can be no assurance that management is correct. If Company is
      unable to employ the qualified employees needed, the Company may fail and may
      be
      required to file for protection under the federal bankruptcy laws.

    

    The
      Company Has Never Paid Dividends on Common Stock

    

    The
      Company has never paid dividends on its Common Stock since its inception and
      does not intend to pay any dividends for the foreseeable future. No assurance
      can be given that the Company will pay dividends at any time. The Company
      presently intends to retain future earnings, if any, for financing its growth
      and expansion.

    

    The
      Company is Subject to the Uncertainty of Intellectual Property
      Rights

    

    The
      Company’s breach of an existing license or failure to obtain a license to
      technology required to commercialize its product candidates may have a material
      adverse effect on the Company's business, financial condition and results of
      operations. Litigation, which could result in substantial costs to the Company,
      may also be necessary to enforce any patents issued to the Company or to
      determine the scope and validity of third party proprietary rights. If
      competitors of the Company prepare and file patent applications in the United
      States that claim technology also claimed by the Company, the Company may have
      to participate in interference proceedings declared by the United States Patent
      and Trademark Office to determine priority of invention, which could result
      in
      substantial cost to the Company, even if the eventual outcome is favorable
      to
      the Company. An adverse outcome could subject the Company to significant
      liabilities to third parties and require the Company to cease using such
      technology. 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    

    There
      can
      be no assurance that current and potential competitors and other third parties
      have not filed or in the future will not file applications for, or have not
      received or in the future will not receive, patents or obtain additional
      proprietary rights relating to products or processes used or proposed to be
      used
      by the Company. Many non-United States jurisdictions allow oppositions by third
      parties to granted patents and/or issued patents. The Company may have to
      participate in opposition proceedings in non-United States jurisdictions to
      prevent a third party from obtaining a patent that may be adverse to the
      Company's interests. Also, the Company may have to defend against a third
      party's opposition to a patent granted and/or issued to the Company. There
      can
      be no assurance that the Company will be successful in an opposition proceeding,
      and participation in such a proceeding could result in substantial cost to
      the
      Company whether or not the eventual outcome is favorable to the Company.
      Moreover, there is certain subject matter which is patentable in the United
      States and not generally patentable outside of the United States and this may
      limit the protection the Company can obtain on some of its inventions outside
      of
      the United States. For example, the scope of protection for pharmaceutical
      inventions varies from country to country. These and/or other issues may prevent
      the Company from obtaining meaningful patent protection outside of the United
      States, which could have a material adverse effect on the Company's business,
      financial condition and results of operations.

    

    The
      Company’s Business is Both Highly Competitive and Subject to Rapid Technological
      Change

    

    The
      Company competes against a number of companies, many of which have longer
      operating histories, established markets and far greater financial, advertising,
      research and development, manufacturing, marketing, personnel and other
      resources than the Company currently has or may reasonably be expected to have
      in the foreseeable future. This competition may have an adverse effect on the
      ability of the Company to expand its operations or to operate profitably. The
      pharmaceutical industry in general, and the encrypted software segment in
      particular, is highly competitive and characterized by rapid technological
      change. The Company’s future performance will depend in large part upon its
      ability to become and remain competitive and to develop, manufacture and market
      acceptable products in these markets. Competitive pressures may necessitate
      price reductions, which can adversely affect any revenues and profits. If the
      Company is not competitive in its ongoing research and development efforts,
      its
      products and services may become obsolete, or be priced above competitive
      levels. Although management believes that, based upon their performance and
      price, the Company's services are attractive to customers, there can be no
      assurance that competitors will not introduce comparable or technologically
      superior products, which are priced more favorably than the Company's products
      and services.

    

    Lack
      of Profitability

    

    The
      Company currently operates at a loss. No assurance can be given that the Company
      will achieve sufficient revenues for profitability. We believe that we will
      continue to incur operating and net losses for at least the foreseeable future.
      The rate at which we will incur losses is expected to increase from current
      levels for a period when we intend to increase our costs and expenses. Even
      if
      the Company attains profitability, there is no assurance that it can sustain
      or
      increase profitability on a quarterly or annual basis in the future. If revenues
      grow slower than anticipated, or if operating expenses exceed expectations
      or
      cannot be adjusted accordingly, the Company’s business, results of operations
      and financial condition will be materially and adversely affected.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    Risks
      Associated with Technological Change

    

    The
      market in which the Company will compete is characterized by rapidly changing
      technology. Accordingly, the Company’s future success will depend on its ability
      to adapt to rapidly changing technologies, its ability to adapt its services
      to
      meet evolving industry standards and its ability to continually improve the
      performance, features and reliability of the Company’s products in response to
      both changing customer demands and competitive product and service offerings.
      The Company’s failure to successfully adapt to such changes in a timely manner
      could have a material adverse effect on the Company’s business, results of
      operations and financial condition.

     

    Government
      Regulation

    

    The
      Company’s operations are subject to national and international laws governing
      the Company’s products and services. The failure of the Company to achieve
      compliance with these regulations could have a material and adverse affect
      upon
      the Company’s operations.

    

    8.
      Responsibility.
      The
      Company or its officers and directors shall not be liable, responsible or
      accountable for damages or otherwise to any Subscriber for any act or omission
      performed or omitted by them in good faith and in a manner reasonably believed
      by them to be within the scope of the authority granted to them by this
      Subscription Agreement and in the best interests of the Company, provided they
      were not guilty of gross negligence, willful or wanton misconduct, fraud, bad
      faith or any other breach of fiduciary duty with respect to such acts or
      omissions. 

    

    9.
      Miscellaneous. 

    

    (a)
      The
      Company and the Subscriber hereby covenant that this Subscription Agreement
      is
      intended to and does contain and embody herein all of the understandings and
      agreements, both written or oral, of the Company and the Subscriber with respect
      to the subject matter of this Subscription Agreement, and that there exists
      no
      oral agreement or understanding, express or implied liability, whereby the
      absolute, final and unconditional character and nature of this Subscription
      Agreement shall be in any way invalidated, empowered or affected. There are
      no
      representations, warranties or covenants other than those set forth herein.
      

    

    (b)
      The
      headings of this Subscription Agreement are for convenient reference only and
      they shall not limit or otherwise affect the interpretation or effect of any
      terms or provisions hereof. 

    

    (c)
      This
      Subscription Agreement shall not be changed or terminated except as set forth
      herein. All of the terms and provisions of this Subscription Agreement shall
      be
      binding upon and inure to the benefit of and be enforceable by and against
      the
      successors and assigns of the Company and the heirs, executors, administrators
      and assigns of the Subscriber. 

    

    (d)
      A
      modification or waiver of any of the provisions of this Subscription Agreement
      shall be effective only if made in writing and executed with the same formality
      as this Subscription Agreement. The failure of either the Company or the
      Subscriber to insist upon strict performance of any of the provisions of this
      Subscription Agreement shall not be construed as a waiver of any subsequent
      default of the same or similar nature, or of any other nature or kind.

    

    (e)
      The
      various provisions of this Subscription Agreement are severable from each other
      and from the other provisions of this Agreement, and in the event that any
      provision in this Subscription Agreement shall be held invalid or unenforceable
      by a court of competent jurisdiction, the remainder of this Subscription
      Agreement shall be fully effective, operative and enforceable. 

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    

    (f)
      Pronouns used herein are to be interpreted as referring to both the masculine
      and feminine gender. 

    

    (g)
      This
      Subscription Agreement shall be construed and interpreted in accordance with
      the
      laws of the State of Nevada without reference to conflict of laws principle.
      The
      parties agree that in the event of a laws controversy arising out of the
      interpretation, construction, performance or breach of this Subscription
      Agreement, any and all claims arising out of, or relating to, this Subscription
      Agreement shall be submitted by arbitration according to the Commercial
      Arbitration Rules of the American Arbitration Association located in New York
      City before a single arbitrator. Notwithstanding the prior sentence, any other
      action commenced by either party herein shall be venued in the appropriate
      court
      of competent jurisdiction located in the county of New York, State of New York.
      

    

    (h)
      This
      Subscription Agreement may be executed in one or more counterparts each of
      which
      shall be deemed an original and all of which together shall be deemed to be
      one
      and the same instrument. 

    

    THE
      SUBSCRIBER ACKNOWLEDGES THAT, EXCEPT AS SET FORTH IN THIS AGREEMENT, NO
      REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE TO IT, OR TO ITS ADVISORS, BY
      THE
      COMPANY, OR BY ANY PERSON ACTING ON BEHALF OF THE COMPANY, WITH RESPECT TO
      THE
      INTERESTS, THE PROPOSED BUSINESS OF THE COMPANY, THE DEDUCTIBILITY OF ANY ITEM
      FOR TAX PURPOSES, AND/OR THE ECONOMIC, TAX, OR ANY OTHER ASPECTS OR CONSEQUENCES
      OF A PURCHASE OF AN INTEREST AND/OR ANY INVESTMENT IN THE COMPANY, AND THAT
      IT
      HAS NOT RELIED UPON ANY INFORMATION CONCERNING THE OFFERING, WRITTEN OR ORAL,
      OTHER THAN THAT CONTAINED IN THIS SUBSCRIPTION AGREEMENT. 

    

    ---------------The
      rest of this page left intentionally left
      blank.------------------

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    The
      Subscriber hereby offers to purchase and subscribe to ____________ Units and
      encloses payment of $100,000 per Unit for an aggregate investment of
      $____________.

    

    SIGNATURE
      PAGE FOR
      INDIVIDUALS

    

    

     

    
      	 	
                

            
	 	
              Signature
                of Individual Subscriber

            
	 	 
	 	 
	 	
                

            
	 	
              Name
                of Individual Subscriber

            
	 	 
	 	 
	 	
                

            
	 	
              (Print)
                Street Address - Residence 

            
	 	 
	 	 
	 	
                

            
	 	
              (Print)
                City, State and Zip Code 

            
	 	 
	 	 
	 	
              Social
                Security Number:

            
	 	 
	 	
                

            

    

    

    AGREED
      TO AND ACCEPTED:

    

    As
      of
      ___________, 200_

    

    NANOVIRICIDES,
      INC.

    

    

    By:
      ________________________

    Anil
      Diwan, President

    

    ---------------The
      rest of this page left intentionally left
      blank.------------------

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    The
      Subscriber hereby offers to purchase and subscribe to _______________ Units
      and
      encloses payment of $100,000 per Unit for an aggregate investment of
      $____________.

    

    

    SIGNATURE
      PAGE  FOR
      PARTNERSHIPS

    

    

     

    
      	 	
                

            
	 	
              Name
                of Company

            
	 	 
	 	 
	 	
              By:
                  

            
	 	
              Signature
                of General Partner

            
	 	 
	 	
                

            
	 	
              Name
                and Title of Authorized

            
	 	
              Signatory
                (please print)

            
	 	 
	 	
                

            
	 	
              (Print)
                Business Address 

            
	 	 
	 	
                

            
	 	
              (Print)
                City, State and Zip Code 

            
	 	 
	 	
                

            
	 	
              Tax
                Identification Number:

            
	 	 
	 	
                

            

    

    

    AGREED
      TO AND ACCEPTED:

    

    As
      of
      ___________, 200_

    

    NANOVIRICIDES,
      INC.

    

    

    By:
      ________________________

    Anil
      Diwan, President

    

    

    ---------------The
      rest of this page left intentionally left
      blank.------------------

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    The
      Subscriber hereby offers to purchase and subscribe to _______________ Units
      and
      encloses payment of $100,000 per Unit for an aggregate investment of
      $____________.

    

    SIGNATURE
      PAGE FOR
      CORPORATIONS

    

    

     

    
      	 	
                

            
	 	
              Name
                of Corporation

            
	 	 
	 	 
	 	
              By:
                  

            
	 	
              Signature
                of Executive Officer

            
	 	 
	 	 
	 	
                

            
	 	
              Name
                and Title of Authorized

            
	 	
              Signatory
                (please print)

            
	 	 
	 	
                

            
	 	
              (Print)
                Street Address 

            
	 	 
	 	
                

            
	 	
              (Print)
                City, State and Zip Code 

            
	 	 
	 	 
	 	
              Tax
                Identification Number:

            
	 	 
	 	
                

            

    

    

    

    

    AGREED
      TO AND ACCEPTED:

    

    As
      of
      ___________, 200_

    

    

    NANOVIRICIDES,
      INC.

    

    

    By:
      ________________________

    Anil
      Diwan, President

    

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

    COMPLETE
      “SUBSCRIBER QUESTIONNAIRE” BELOW;

    PROVIDE
      REQUISITE ADDITIONAL INFORMATION

    

    SUBSCRIBER
      QUESTIONNAIRE

    

    PERSONAL
      DATA.

    

    
      	 	 	 
	
              Full
                Name

            	 	
              Residence
                Telephone (Area Code Number)

            
	 	 	 
	 	 	
              Business
                Telephone (Area Code Number)

            
	 	 	 
	
              Residence
                or Principal Address (Street/City/State/Zip Code)

            	 	
              Birth
                Date

            
	 	 	 
	 	 	 
	
              Mailing
                Address (if other than residence)

            	 	
              Citizenship
                (U.S./Other)

            
	 	 	 
	 	 	 
	
              Marital
                Status

            	 	
              Social
                Security/Taxpayer I.D. Number

            
	 	 	 
	 	 	 
	
              Spouse’s
                Full Name

            	 	
              E-mail
                Address

            
	 	 	 
	 	 	 
	
              Spouse’s
                Social Security Number

            	 	
              Facsimile
                Number (Area Code/Number)

            
	 	 	 

    

    ACCREDITED
      INVESTOR.
      If
      Subscriber (or the entity on behalf of which Subscriber is acting) is an
“accredited investor” as that term is defined in Rule 501(a) of Regulation D
      promulgated under the Act, and, as such, falls within at least one of the
      following categories, then please INITIAL each applicable
      category.

    

    
      	
              ______

            	
              (a)

            	
              A
                bank or savings and loan association or other institution (acting
                either
                in an individual or fiduciary capacity), registered broker-dealer,
                insurance company, registered investment company, or business development
                company, or licensed “small business investment company,” or an employee
                benefit plan which either is represented in a fiduciary capacity
                by a
                bank, savings and loan association, insurance company or registered
                investment advisor, has total assets in excess of $5,000,000 or is
                self-directed and the plan’s business investments are made solely by
                accredited investors.

            
	 	 	 
	
              ____

            	
              (b)

            	
              A
                trust (i) with total assets in excess of $5,000,000, (ii) which was
                not
                formed for the specific purpose of acquiring the subject securities,
                and
                (iii) whose purchase is directed by a person who has such knowledge
                and
                experience in financial and business matters as to be capable of
                evaluating the merits and risks of the prospective
                investment.

            
	 	 	 
	
              _____

            	
              (c)

            	
              An
                organization described in Section 501(c)(3) of the Internal Revenue
                Code,
                corporation or similar business trust, or partnership, not formed
                for the
                specific purpose of acquiring the subject securities, with total
                assets in
                excess of $5,000,000.

            
	 	 	 
	
              ______

            	
              (d)

            	
              An
                entity in which all of the equity owners are “accredited
                investors.”

            
	 	 	 
	
              ______

            	
              (e)

            	
              A
                director or an executive officer of the Company.

            
	 	 	 
	
              ______

            	
              (f)

            	
              A
                natural person whose individual net worth, or joint net worth with
                spouse
                (if any), exceeds $1,000,000

            
	 	 	 
	
              ______

            	
              (g)

            	
              A
                natural person whose income in each of the two most recent calendar
                years
                exceeded $200,000 individually, or $300,000 jointly with spouse (if
                any),
                and who reasonably expects to reach that income level in the current
                year.

            

    

    
      
         

      

      
        13Unassociated Document

    CODE
      OF
      ETHICS

    OF

    NANOVIRICIDES,
      INC.

    

    It
      is the
      policy of NanoViricides, Inc.(the "Company") that all directors, officers and
      employees of the Company shall, to the best of their knowledge and ability,
      adhere to, comply with and advocate the principles set out in this code of
      ethics (the "Code") governing their professional and ethical conduct in the
      fulfillment of their responsibilities. 

    

    The
      purposes of the Code are to:

    

    
      	
              • 
                

            	
              Promote
                honest and ethical conduct, including the ethical handling of actual
                or
                apparent conflicts of interest between personal and professional
                relationships;

            
	
              •
                

            	
              Promote
                full, fair, accurate, timely and understandable disclosure in reports
                and
                documents that the Company files with, or submits to the U.S. Securities
                and Exchange Commission and in other public communications made by
                the
                Company;

            
	
              •
                

            	
              Promote
                compliance with applicable governmental laws, rules and
                regulations;

            
	
              •
                

            	
              Promote
                the prompt internal reporting of violations of the Code to appropriate
                persons of authority within the Company; and

            
	
              •
                

            	
              Promote
                accountability for adherence to the
                Code.

            

    

    

    The
      Code
      embodies principles to which all directors, officers and employees are expected
      to adhere and advocate. Any violations of the Code may result in disciplinary
      action, up to and including termination or removal, as applicable.

    

    All
      directors, officers and employees of the Company will: 

    
      	
              1.

            	
              Act
                with honesty and integrity, avoiding actual or apparent conflicts
                between
                personal and the interests of the Company, including refraining from
                receiving improper personal benefits as a result of holding a particular
                position with the Company;

            
	
              2.

            	
              Not
                solicit or accept, for personal or other benefit, business or similar
                opportunities that could reasonably be expected to otherwise accrue
                to the
                benefit of the Company;

            
	
              3.

            	
              Where
                applicable, provide the U.S. Securities and Exchange Commission (the
                "Commission") and the public with complete, fair, accurate, timely
                and
                understandable disclosure in periodic reports and other documents
                filed or
                submitted to the Commission and in other public
                communications;

            
	
              4.

            	
              Endeavor
                to comply with applicable laws and regulations of federal, state,
                local
                and foreign governments and government agencies having jurisdiction
                over
                the Company, and with applicable regulations of private or self-regulatory
                authorities having jurisdiction over the Company;

            
	
              5.

            	
              Act
                in good faith, responsibly with due care and diligence and without
                misrepresentation or omission of material facts and strive to maintain
                independent judgment in the performance and fulfillment of their
                duties
                and responsibilities;

            
	
              6.

            	
              Promote
                ethical behavior among subordinates and peers at the
                Company;

            
	
              7.

            	
              Use
                corporate assets entrusted to them in a responsible manner and refrain
                from competing directly or indirectly with the Company or using corporate
                information or opportunities for personal gain;

            
	
              8.

            	
              Respect
                the confidentiality of information acquired or obtained in the course
                of
                performance of their responsibilities, never use confidential information
                for personal advantage, and disclose confidential information of
                the
                Company or third parties only when such disclosure is legally required
                or
                is otherwise authorized.

            
	
              9.

            	
              Not
                fraudulently influence, coerce, manipulate, mislead or fail to disclose
                relevant information to any auditor engaged in the performance of
                an audit
                for the purpose of rendering the financial statements materially
                misleading.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Only
      the
      Company's Board of Directors (the "Board") is authorized to permit a waiver
      of
      this Code of Ethics. Any waiver of the Code for any director or executive
      officer of the Company must be disclosed on Form 8-K within five days, or such
      shorter period as may be required under applicable regulation.

    

    It
      is the
      duty of each director, officer and employee of the Company to report violations
      of the Code promptly to the attention of the Company's Chief Executive Officer,
      Chief Financial Officer, or to any member of the Board.

    

    Financial
      Information Integrity Policy.

    

    The
      Company will handle all inquiries discretely and make every effort to maintain,
      within the limits allowed by law, the confidentiality of anyone requesting
      guidance or reporting questionable behavior or other matters of concern under
      the Code.

    

    The
      Board
      shall promptly determine, or designate appropriate persons promptly to determine
      appropriate actions to be taken in the event of violations of the Code by any
      director, officer or employee. In determining what actions are appropriate
      in a
      particular case, the Board (or its designee) shall act consistently and take
      into account relevant information including the nature and severity of the
      violation, whether the violation was a single occurrence or a series of repeated
      occurrences, whether the violation appears to have been intentional or
      inadvertent, whether the individual in question had been advised prior to the
      violation as to the proper course of action, and whether or not the director,
      officer or employee in question had committed other violations in the past.
      

    

    If
      the
      Board believes that standards for compliance with the Code are not objective,
      or
      that the process for determining violations is not fair or that the Code is
      not
      conducive to prompt and consistent enforcement, or that the protection for
      persons reporting questionable behavior pursuant to the Code is inadequate
      (either under the Code or under the Company's other policies), the Board shall
      adopt appropriate changes to the Code or other Company policies.

    

    It
      is the
      Company' s intention that the Code be the Company's written code of ethics
      under
      Section 406 of the Sarbanes-Oxley Act of 2002 complying with the standards
      set
      forth in Securities and Exchange Commission Regulation S-B Item
      406.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]