Document:

Exh 10.14 Settlement Agreement between Wells Fund XIV  3675 Kennesaw 75 Parkway, LLC and World Electric Supply, Inc.

Exhibit 10.14

SETTLEMENT AGREEMENT

This Settlement Agreement (the "Agreement") is made and entered into this 17th day of February 2012, by and between World Electric Supply Inc. ("World Electric") and Wells Fund XIV-3675 Kennesaw Parkway, LLC ("Wells") [collectively referred to as the "Parties"].
WHEREAS a dispute has arisen between the Parties regarding a lease agreement dated July 14, 2005 (the "Lease"), pursuant to which World Electric leased property owned by Wells and located at 3675 Kennesaw 75 Parkway, Kennesaw, Georgia, 30144 (the "Property");
WHEREAS the parties asserted claims and counterclaims related to the Lease in an action styled World Electric Supply Inc. v. Wells Fund XIV-3675 Kennesaw Parkway, LLC, 
No. 2010CV194894, in the Superior Court of Fulton County (the "Litigation");
WHEREAS on October 5, 2011, the Court entered an Order and Final Judgment in favor of Wells and against World Electric in the principal amount of $802,211.11, and World Electric filed a notice of appeal;  
WHEREAS, in its continued efforts to mitigate its damages, Wells is currently under contract to sell the Property to an unrelated third party buyer; and    
WHEREAS, the Parties desire to settle, compromise, and resolve their dispute, including, but not limited to, all claims that have been or could have been asserted in the Litigation;
NOW, THEREFORE, in consideration of the promises, covenants, and other terms set forth and referred to herein, the Parties hereby agree as follows:
Section 1.  Contingency of Settlement.
The Parties agree that this Agreement and the obligations of the Parties set forth herein are contingent on the closing of the sale of the Property.  The closing is currently scheduled for February 24, 2012.  Wells will notify World Electric if the closing is rescheduled, and Wells will notify World Electric when the closing is successfully completed, thus triggering the Parties' obligations under Sections 3-12 of this Agreement.  The date of the closing of the sale of the Property shall be the "Effective Date" of this Agreement.  In the event that the closing does not occur, Wells reserves the unilateral right to cancel this Agreement, and upon such cancellation, (a) this Agreement shall be of no further force and effect, and (b) the Parties shall be restored to their respective positions as existed prior to the execution of this  Agreement.

Section 2.  Settlement Payment.
(a)     No later than five (5) business days after the Parties' execution of this Agreement, World Electric shall deliver payment in the amount of Five Hundred Twenty-Five Thousand and 00/100 Dollars ($525,000.00) (the "Settlement Payment") in accordance with wire instructions provided by Wells' counsel to World Electric's counsel.  
(b)    The Settlement Payment will be held in trust by Wells' counsel until the closing of the sale of the Property.  If the closing is successful, and upon the Effective Date of this Agreement, the Settlement Payment shall be released to Wells, and World Electric will have no further interest in the funds.  However, if the closing does not occur and Wells cancels this Agreement pursuant to Section 1 above, then the Settlement Payment shall be refunded to World Electric, and Wells will have no further interest in the funds.  
Section 3.  Termination of the Lease.
On the date of and simultaneously with the closing of the sale of the Property (the Effective Date of this Agreement), as set forth in Section 1 above, the Lease shall be terminated, effective immediately.  Written notice requirements under the Lease are hereby waived, and both Parties' obligations under the Lease are thereafter terminated, except for any obligations that survive the termination of the Lease, specifically, World Electric's obligations set forth in Paragraph 16 of the Lease and Special Stipulation VI of Exhibit E to the Lease.
Section 4.  Dismissal of the Action.
Within five (5) business days after the Effective Date of this Agreement, the Parties shall cause their attorneys to execute and file with the Court a Stipulation of Dismissal With Prejudice in the form attached hereto as Exhibit "A," which dismisses with prejudice all claims and counterclaims in the Litigation.
Section 5.  Mutual Release.
(a)     Upon the Effective Date of this Agreement, World Electric, on behalf of itself and its parents, subsidiaries, and affiliates, hereby releases, acquits, and forever discharges Wells and each and every past and present employee, representative, attorney, agent, insurer, parent, subsidiary, and affiliate of Wells from any and all claims, causes of action, suits, debts, liens, obligations, liabilities, demands, losses, costs, and expenses (including attorneys' fees and costs) of any kind, character, or nature whatsoever, whether known or unknown and whether fixed or contingent, that they may have or claim to have now or which may hereafter arise out of or be connected with any act of commission or omission by Wells, including, but not limited to, any and all claims or causes of action that were asserted or that could 

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have been asserted in relation to the Lease and the Litigation. 
(b)     Upon the Effective Date of this Agreement, except as set forth in Section 6 below, Wells, on behalf of itself and its parents, subsidiaries, and affiliates, hereby releases, acquits, and forever discharges World Electric and each and every past and present employee, representative, attorney, agent, insurer, parent, subsidiary, and affiliate of World Electric from any and all claims, causes of action, suits, debts, liens, obligations, liabilities, demands, losses, costs, and expenses (including attorneys' fees and costs) of any kind, character, or nature whatsoever, whether known or unknown and whether fixed or contingent, that they may have or claim to have now or which may hereafter arise out of or be connected with any act of commission or omission by World Electric, including, but not limited to, any and all claims or causes of action that were asserted or that could have been asserted in relation to the Lease and the Litigation. 
Section 6.  Scope of Releases.
The Parties hereby acknowledge and agree that the releases granted in Section 5 are general releases of all claims that they have or might have, and they further expressly waive and assume the risk of any and all claims that exist as of the date of this Agreement, but of which they do not know or suspect to exist, whether through ignorance, oversight, error, negligence, or otherwise, which, if known, would materially affect their decision to enter into this Agreement.  Provided, however, that Wells does not release World Electric from its obligations set forth in Paragraph 16 of the Lease and Special Stipulation VI of Exhibit E to the Lease, which survive the termination of the Lease.
Section 7.  Authority.
Each Party to this Agreement hereby represents and warrants that:
(a)    the person executing this Agreement on a Party's behalf is duly authorized to bind the Party purporting to be bound thereby;
(b)    all corporate and partnership formalities and approvals required to authorize the entry into and performance of this Agreement have been or will be undertaken; and
(c)    the entry into and performance of this Agreement is not barred, prohibited, or impaired by any law, rule, regulation, contract, judgment, order, or decree by which that Party is bound.
Section 8.  Non-Admission.
This Agreement is entered into solely for the purpose of settling and resolving disputes between the Parties.  Nothing contained in this Agreement shall constitute or be construed to constitute an admission of the validity of any claim or allegation, asserted or unasserted.  

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Section 9.  Assignment of Claims.
The Parties hereby expressly represent and warrant that they are the owner of all claims released by them herein and that they have not assigned or transferred or purported to have assigned or transferred voluntarily or by operation of law or otherwise any of the claims released by them herein or any portion thereof.  Each Party further agrees that it will indemnify and hold harmless the other Party from any damages and costs and attorneys' fees incurred as a result of any and all claims so assigned or transferred.
Section 10.  Entire Agreement and No Modifications.
This Agreement constitutes the entire understanding between the parties, and no other promises or representations induced the Parties to enter into this Agreement.  This Agreement may not be amended, modified, or supplemented except by an instrument in writing signed by both Parties.
Section 11.  Severability.
In the event that any part of this Agreement shall be found to be invalid or unenforceable for any reason, such finding shall not invalidate any other part of this Agreement, and the other parts of the Agreement shall be valid and enforceable to the fullest extent permitted by law.
Section 12.  Additional Provisions.
(a)    This Agreement shall be governed by and construed according to the laws of the State of Georgia.  The Parties agree that the state or federal courts located in Atlanta, Georgia, shall have personal jurisdiction over them and shall be the exclusive forum for the resolution of any controversy or dispute arising from or with respect to this Agreement.
(b)    The titles of the sections of this Agreement are for reference only and shall not be considered to be part of this Agreement for the purpose of its construction or interpretation.
(c)    This Agreement shall be binding upon and shall inure to the benefit of each of the Parties hereto, and each of their respective successors and assigns, provided, however, that no Party shall be relieved of any obligation under this Agreement by virtue of any assignment of its rights hereunder, except to the extent the obligations hereunder are actually performed by such assignee.
(d)    The Parties hereby acknowledge and agree that this Agreement is the product of arms'-length negotiations between the Parties, that they have read the terms of this Agreement, that they have been assisted by counsel of their choosing with respect to this Agreement, that they fully understand the terms of this Agreement, and that they have entered into this Agreement voluntarily and with full knowledge of the effects hereof.
(e)    In the interpretation and construction of this Agreement, no account shall be taken of 

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which, among the Parties, is the originator or drafter of this Agreement, or any of its specific provisions.
(f)    Each Party to this Agreement shall be responsible for and bear its own attorneys' fees, expenses, and costs.
(g)    This Agreement may be executed in two or more identical counterparts, which, when delivered, shall constitute one in the same instrument and shall be enforceable as if all Parties had executed a single document.
    

(remainder of page intentionally left blank)

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WHEREFORE, the Parties have caused this Agreement to be executed and delivered as of the date indicated above.

	
		
	WORLD ELECTRIC SUPPLY INC.

/s/ Paul Trudel
(signature)

BY: Paul Trudel

ITS: General Counsel & Secretary
	 

	

	 

WELLS FUND XIV - 3675 KENNESAW 75 PARKWAY, LLC,
a Georgia limited liability company

By:     Wells Real Estate Fund XIV, L.P., a     Georgia Limited partnership, its sole member

By:     Wells Capital, Inc., a Georgia corporation, its general partner

                               By: /s/ Douglas P. Williams

                               Name: Douglas P. Williams

                               Title: Senior Vice President

               /s/ Douglas P. Williams
               Leo F. Wells, III, its general partner, by and 

               through Douglas P. Williams as attorney in fact

Douglas P. Williams
Senior Vice President

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	IN THE SUPERIOR COURT OF FULTON COUNTY
STATE OF GEORGIA

	WORLD ELECTRIC SUPPLY INC., 

Plaintiff & Counterclaim Defendant, 
v. 

WELLS FUND XIV - 
3675 KENNESAW PARKWAY, LLC, 

Defendant & Counterclaim Plaintiff.  
	)
)
)
)
)
)
)
)
)
	CIVIL ACTION FILE
NO. 2010CV194894

	 
	 
	 

STIPULATION OF DISMISSAL WITH PREJUDICE

Pursuant to O.C.G.A. § 9-11-41(a)(1), Plaintiff/Counterclaim-Defendant World Electric Supply Inc. and Defendant/Counterclaim-Plaintiff Wells Fund XIV-3675 Kennesaw Parkway, LLC, by and through their undersigned counsel of record, hereby stipulate, that the above-styled action and all claims and counterclaims asserted therein are dismissed with prejudice.  Each party shall bear its own costs and attorneys' fees in connection with this action.
Respectfully submitted, this ____ day of __________________, 2012.

	
		
	TAYLOR ENGLISH DUMA LLP

____________________________________
John M. Gross
Georgia Bar No. 313520
Ramsey A. Knowles
Georgia Bar No. 426726

1600 Parkwood Circle, Suite 400
Atlanta, Georgia 30339
Phone: 678-336-7176
Main: 770.434.6868
Fax: 770.434.7376 
Email: rknowles@taylorenglish.com 
	TROUTMAN SANDERS LLP

____________________________________
Jaime L. Theriot
Georgia Bar No. 497652

5200 Bank of America Plaza
600 Peachtree Street, N.E.
Atlanta, Georgia 30308‐2216
Phone: 404-885-3534
Fax: 404-962-6748
Email: jaime.theriot@troutmansanders.com 

Attorney for Defendant/Counterclaim-Plaintiff Wells Fund XIV-3675 Kennesaw Parkway, LLC 

	Attorneys for Plaintiff/Counterclaim-Defendant World Electric Supply Inc.
	 

Exhibit "A"f10k2011ex10xx_arista.htm

Exhibit 10.20

 

SUBSCRIPTION AGREEMENT

 

Arista Power, Inc.

1999 Mt. Read Boulevard

Rochester, New York 14615

Gentlemen:

1.   Subscription. This Subscription Agreement relates to an offering (the “Offering”) of up to one hundred units (the “Units”) for a purchase price of $15,000 per Unit, with each Unit consisting of (a) 7,500 shares of common stock, par value $.002 per share (“Common Stock”), of Arista Power, Inc. (the “Company”) and (b) a warrant to purchase 1,000 shares of Common Stock with a purchase price of $10.00 per share (the “Warrant”).  The Units are being offered pursuant to one or more exemptions from registration under Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Each individual or entity that completes a Subscriber signature page hereto (each a “Subscriber” and collectively, the “Subscribers”), on the date hereof shall purchase the number of Units set forth on such Subscriber’s signature page hereto, on the terms and conditions set forth herein, and the Company hereby accepts each such subscription and, on the date hereof shall issue and sell to each such Subscriber such Units.  The Subscribers understand that the Company will rely on the Subscriber’s representations and warranties herein.  This Subscription Agreement shall become effective upon execution by the parties hereto.

 

2.   Payment of Purchase Price.  Against delivery of the Shares, and in consideration of the other provisions hereof, each Subscriber shall pay to the Company the total purchase price set forth on such Subscriber’s signature page hereto by check made payable to “Arista Power, Inc.” or by wire transfer of immediately available funds to the Company at:

 

Citizen’s Bank

ABA Number:

Account Name: Arista Power, Inc.

Account Number:

FBO:

Promptly after the execution of this Agreement, the Company shall deliver to each Subscriber a stock certificate representing the number of shares of Common Stock comprising the Units set forth next to such Subscriber’s name.

 

3.   Representations and Warranties of the Subscriber.  Each Subscriber represents and warrants as follows:

 

(a)  The Subscriber has been given the opportunity to ask questions of, and receive answers from, the Company and the Company’s authorized representative(s) concerning the terms and conditions of the offering.

 

  

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(b)  The Subscriber has such knowledge and experience in financial matters and investments that the Subscriber is capable of evaluating the merits and risks of the Subscriber’s investment in the Company and has obtained sufficient information relating to the Company and the Offering to enable the Subscriber to evaluate the merits and risks of such investment.

 

(c)  The Subscriber is acquiring the Unit(s), Common Stock and Warrant for the Subscriber’s own account for investment purposes only and not for distribution or resale to others in violation of the Securities Act.  Subscriber is not an “underwriter” of any of the Company’s securities as that term is defined in Section 2(11) of the Securities Act, and Subscriber shall not take or cause to be taken any action that would cause Subscriber to be deemed an underwriter of the Company’s securities.

 

(d)  Subscriber understands that the Units, Common Stock, the Warrant and the Common Stock underlying the Warrant, have not been registered under the Securities Act pursuant to the provisions of the securities or other laws of any applicable jurisdictions.  The Subscriber understands that the Company has made no representation that it will register any of the Units, Common Stock, the Warrants and the Common Stock underlying the Warrants sold hereunder.

 

(e)  The Subscriber has reviewed or had the opportunity to review all public filings made by the Company with the Securities and Exchange Committee (“SEC”) through the SEC website at www.sec.gov.

 

(f)  THE SUBSCRIBER RECOGNIZES THAT AN INVESTMENT IN THE COMPANY INVOLVES SUBSTANTIAL RISKS.  THE SUBSCRIBER UNDERSTANDS THAT INVESTMENT IN THE COMPANY’S SECURITIES IS SPECULATIVE AND THAT THE SUBSCRIBER COULD LOSE THE SUBSCRIBER’S ENTIRE INVESTMENT.  THE SUBSCRIBER REPRESENTS AND WARRANTS THAT SUBSCRIBER CAN SUSTAIN SUCH AN ENTIRE LOSS.

 

(g)  The Subscriber’s overall commitment to investments that are not marketable is not disproportionate to the Subscriber’s net worth, and the Subscriber has no need for liquidity in the Subscriber’s investment in the Units, in that the Subscriber has other sources of income or funds to provide for the Subscriber’s current needs and possible contingencies.

 

(h)  Subscriber knows of no public solicitation or advertisement of any offer in connection with the proposed issuance and sale of the securities hereunder.  Subscriber is not purchasing the Units as a result of any advertisement, article, notice or other communication regarding the Company or the Units published in any newspaper, magazine, or similar media or broadcast over television or radio or the Internet or presented at any seminar or through any other general solicitation or general advertisement and acknowledges that the Subscriber had a pre-existing business or personal relationship with an officer or director or authorized representative of the Company.

 

(i)  If an individual, the Subscriber is a United States citizen whose principal residence is as set forth on the signature page hereto.

 

  

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(j)  If a corporation, partnership, limited liability company, trust or other non-individual entity, the Subscriber is authorized and otherwise duly qualified to purchase and hold the Units, the Common Stock and the Warrant and has its principal office as set forth on the signature page hereto.  Further, such non-individual entity was not formed for the specific purpose of making an investment in the Company.

 

(k)  With respect to the United States federal, state and foreign tax aspects of Subscriber investment, Subscriber is relying solely upon the advice of Subscriber’s own tax advisors, and/or upon Subscriber’s own knowledge with respect thereto. Subscriber has not relied, and will not rely upon, any information with respect to this offering other than the information contained herein and in the SEC Reports.

 

(l)  The answers provided by the Subscriber to the questions contained in Section 5 below, as well as all other information that the Subscriber has provided to the Company, either directly or indirectly, concerning the Subscriber’s financial position and knowledge of financial and business matters, is correct and complete as of the date hereof and as of the date of delivery of this Subscription Agreement to the Company.

 

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

 

(a)  The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of New York;

 

(b)  The Company has the requisite corporate power and authority to execute, deliver and carry out the transactions contemplated by this Agreement, and all other instruments, documents and agreements contemplated or required by the provisions of any of the such documents to be executed, delivered or carried out by the Company hereunder;

 

(c)  The execution and delivery of this Agreement, the issuance of the Common Stock, the issuance of the Warrant, the issuance of the Common Stock underlying the Warrant, the execution and delivery of all other instruments, documents and agreements contemplated or required by the provisions hereof or thereof to be executed and delivered by the Company and the consummation by the Company of the transactions herein and therein contemplated to be consummated by the Company have each been duly authorized by all necessary corporate action on the part of the Company.  This Agreement is valid and binding against the Company and enforceable against the Company in accordance with its respective terms;

 

(d)  The Common Stock to be issued in connection herewith and upon the exercise of the Warrant is duly and validly issued, fully paid, and non-assessable;

 

(e)  As of their respective dates, to the Company’s knowledge, all forms, reports and documents filed by the Company with the SEC (the “SEC Reports”) (i) were, to the knowledge of the Company, prepared in accordance and complied in all material respects with the requirements of the Securities Act or the Securities Exchange Act of 1934, as the case may be, and the rules and regulations of the SEC thereunder applicable to such SEC Reports and (ii) did not, to the knowledge of the Company, at the time they were filed, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

  

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(f)  Except as disclosed in the SEC Reports, there has been no change or development which would reasonably be expected to have a material adverse effect on the business, prospects or financial condition of the Company; and

 

(g)  The Company has not provided any material non-public information regarding the Company to Subscriber.

 

5.   Accredited Investor Status.  Please mark any box below corresponding to a paragraph in which the Subscriber is accurately described (A SUBSCRIBER MAY ONLY INVEST IN THE OFFERING IF HE OR SHE QUALIFIES UNDER ONE OF THE CATEGORIES SET FORTH BELOW):

 

 ̈           (a)            A director or executive officer of the Company;

 

 ̈           (b)           A natural person whose individual net worth, or joint net worth along with such person’s spouse, as of the date hereof exceeds $1,000,000;

 

 ̈           (c)           A natural person who had individual income in excess of $200,000 in each of the two most recent years or a joint income with such person’s spouse in excess of $300,000 in each of those years, and has a reasonable expectation of achieving the same income level in the current year;

 

 ̈           (d)           A bank (as defined in Section 3(a)(2) of the Securities Act), or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934; an insurance company as defined in Section 2(13) of the Act; an investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of the Investment Company Act; 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; any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (“ERISA”), if the investment decision 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 if the employee benefit plan has total assets in excess of $5,000,000 or if a self-directed plan, with investment decisions made solely by persons that are Accredited Investors;

 

 ̈           (e)           A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;

 

  

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 ̈           (f)           Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) promulgated under the Securities Act;

 

 ̈           (g)           An organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the Common Stock, with total assets in excess of $5,000,000;

 

 ̈           (h)           An entity in which all of the owners are Accredited Investors under any of the above paragraphs of this Section 5.

 

5.1       Definitions.  As used above, the term “net worth” means the excess of total assets over total liabilities.  In computing net worth, the principal residence of the Subscriber must be valued at cost, including cost of improvements, or at recently appraised value by an institutional lender making a secured loan, net of encumbrances.  In determining “income,” the Subscriber should add to adjusted gross income any amounts attributable to tax exempt income received, losses claimed as a limited partner in any limited partnership, deductions claimed for depletion, contributions to an IRA or KEOGH retirement plan, alimony payments and any amount by which income from long term capital gains has been reduced in arriving at adjusted gross income.

 

6.   Governing Law.  This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of New York, excluding any conflicts or choice of law rules or principles that might refer to the governance or construction of this Subscription Agreement by the law of another jurisdiction.  If any provisions of this Subscription Agreement shall be unenforceable or invalid, the same shall not affect the remaining provisions of this Subscription Agreement and, to this end, the provisions of this Subscription Agreement are intended to be and shall be severable.  Any legal action or proceeding arising under this Subscription Agreement shall be brought in the federal courts of the State of New York located in New York County, and the appellate courts thereof, and the parties hereby consent to the personal jurisdiction and venue therein.

 

7.   Legend. Any certificate representing Subscriber’s ownership interest in the Company issued pursuant to this Agreement shall bear the following or a similar legend:

 

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS  IN WHICH THE TRANSFEROR PROVIDES THE COMPANY WITH AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION IS NOT NECESSSARY.

 

  

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8.   Indemnification.  Subscriber hereby agrees to indemnify and hold harmless the Company and its affiliated persons and entities (other than Subscriber) from any and all damages, losses, costs, and expenses (including reasonable attorneys’ fees) which it may incur by reason of Subscriber’s failure to fulfill any of the terms and conditions of this purchase or by reason of any misrepresentation or breach of any of the warranties contained herein. In this regard, Subscriber agrees to hold the Company and its controlling persons harmless from all expenses, liabilities, and damages deriving from an assignment or disposition of any shares of our Common Stock subscribed for and/or purchased hereby in a manner which violates the Securities Act, or of any applicable state securities law or which may be suffered by the indemnified person by reason of any misrepresentation or breach of any warranty or agreement by Subscriber set forth herein.

 

9.   Additional Information.  Each party agrees to furnish such additional information as the other party reasonably requests.

 

10.         Entire Agreement.  This Subscription Agreement contains the entire agreement between the parties hereto and supersedes all prior and contemporaneous understandings and agreements of the parties whether oral or written, regarding the subject matter hereof.  The provisions of this Subscription Agreement may not be modified or waived except in writing and the representations, warranties and covenants contained herein shall survive the closing of the purchase of the Units by the Subscriber and any investigation at any time made by any person.

 

  

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COMPANY SIGNATURE PAGE

 

IN WITNESS WHEREOF, the Company has hereby executed this Subscription Agreement on __________, 2012.

 

ARISTA POWER, INC.

 

By:           _____________________________

Name:

Title:

 

  

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SIGNATURE PAGE FOR INDIVIDUAL SUBSCRIBERS

 

IN WITNESS WHEREOF, the Subscriber has hereby executed this Subscription Agreement on ______________, 2012.  When signing as attorney, executor, administrator or guardian, please give title as such. If tenant in common ownership, both tenants must sign (unless husband and wife).

 

	  	  	  	  
	
Please Print Your Name Above

	  	  	
Please Sign Your Name Above

	  	  	  	  
	  	  	  	  
	
Please Print Your Address

	  	  	
Social Security Number

	  	  	  	  
	  	  	  	  
	
Please Print Name of Tenant in Common/

	  	  	
Signature of Tenant in Common/Joint Tenant

	
 Joint Tenant (if applicable)

	  	  	
(if applicable)

	  	  	  	  
	  	  	  	  
	
Please Print Tenant in Common’s Address:

	  	  	
Social Security Number of Tenant in Common

 

	  	 	
Units

	  	 	  
	  	 	
Number of shares of Common Stock

	  	 	  
	  	 	
Number of shares of Common Stock underlying the Warrant

	  	 	  
	  	 	
Total purchase price of Units

 

  

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SIGNATURE PAGE FOR CORPORATIONS, PARTNERSHIPS,

 

LIMITED LIABILITY COMPANIES AND TRUSTS

 

IN WITNESS WHEREOF, the Subscriber has hereby executed this Subscription Agreement on _______________, 2012.

 

	 	 	 	 
	
Please Print Entity Name Above

	  	  	
Please Sign Your Name Above

	  	  	  	  
	  	  	  	  
	
Please Print Address:

	  	  	
Taxpayer Identification Number

 

	  	 	
Units

	  	 	  
	  	 	
Number of shares of Common Stock

	  	 	  
	  	 	Number of shares of Common Stock underlying the Warrant
	  	 	  
	  	 	
Total purchase price of Units

 

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