Document:

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Exhibit 10.37

JACOBS ENGINEERING GROUP INC.

LEADERSHIP PERFORMANCE PLAN

(As Amended and Restated - effective November 18, 2020)

Summary of the Program

The purpose of the Jacobs Engineering Group Inc. Leadership Performance Plan (the “Plan”) is to promote the success of Jacobs Engineering Group Inc. (“Jacobs”) and its subsidiaries (collectively referred to as the “Company”) by attracting and retaining highly qualified people who perform to the best of their abilities to achieve Company objectives and profitability.

Eligibility and Participation

Employees participating in the Plan (each, a “Participant”) will be (1) those senior executives who are selected by the Human Resource and Compensation Committee of the Company’s Board of Directors (the “Committee”) in its sole and absolute discretion and designated as Participants, which shall include the Chief Executive Officer of the Company (the “CEO”), and (2) those key managers (management level personnel who do not normally receive overtime compensation) selected by the Committee, the CEO, the President, the Executive Vice President, Chief Financial Officer, or the Senior Vice President, Global Human Resources, or their functional equivalents (collectively, the “Approving Group”) in their sole and absolute discretion and designated as Participants.

Incentive Formula

The Committee will determine the incentive formula for annual cash incentive awards (“Awards”) granted to Participants under the Plan in its sole and absolute discretion based on one or more performance criteria. The incentive formula and additional terms and conditions applicable to an Award will be set forth in documentation that (a) is not inconsistent with the terms and conditions of this Plan, (b) references this Plan and (c) is approved by the Committee. The incentive formula with respect to an Award is subject to change at any time during the fiscal year. The incentive formula need not be the same as to all Participants and the amount of a Participant’s target Award may be based on that Participant’s salary. If a Participant moves from one level of designated participation to another during the fiscal year, the different weighting factors and incentive formula, if any, will be applied to the Participant’s base salary as of July 1st of the fiscal year at each level and prorated accordingly.

Approvals

Participation of each Section 16 executive officer of the Company shall be approved by the Committee and participation of all other Participants shall be approved by one or more members of the Approving Group.

Payment of Awards

An Award shall be paid at such time or times as determined by the Committee in the Committee’s sole and absolute discretion. The Committee may reduce or increase any Award up to the date of payment. The Company shall withhold from all payments made to a Participant hereunder all taxes which, by applicable federal, state, local or other law, the Company is required to withhold therefrom.

All Awards shall be paid in full within 90 days of the close of the applicable fiscal year, except Awards deferred pursuant to the terms of a Company sponsored plan for which a Participant is eligible, which shall be paid pursuant to the terms of such plan.

If an individual becomes a Participant in the Plan after the beginning of a fiscal year, his or her Award will be prorated accordingly. Except as set forth in the next sentence, to receive payment of an Award, a Participant must be employed with the Company on the date each Award is paid. If a Participant’s employment terminates for any reason before the payment date, all unpaid Awards are automatically forfeited unless (i) the determination is made to pay a pro-rated Award in the sole and absolute discretion of the Committee; (ii) a Participant “retires” during the fiscal year, in which case the Participant will be eligible for a prorated payment based upon year-end results, which prorated payment shall be made at the same time as other Participants are paid; or (iii) a Participant dies or becomes disabled (as determined by the Committee) (x) during the fiscal year, in which case, the Participant (or his/her 
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“beneficiary” in the case of death) will be eligible to receive payment equal to the Participant’s target Award, prorated for the number of days worked during the fiscal year or (y) after the end of the fiscal year but prior to the payment date, in which case the Participant (or his/her “beneficiary” in the case of death) will be eligible to receive payment based on year-end results, which payment shall be made at the same time as other Participants are paid. “Retires” means a Participant’s voluntary resignation from employment (i) at age 65 or older or (ii) at age 60 or older with 10 or more years of service with the Company. “Beneficiary” means a Participant’s designated beneficiary for company-paid life insurance, or the Participant’s estate if none.

Modifications and Administration

This Plan shall be administered by the Committee which shall consist of at least two independent directors of the Company. The Committee shall have the sole and absolute discretion and authority to: (i) administer and interpret the Plan in accordance with all applicable laws as may be appropriate; (ii) prescribe the terms and conditions of any Awards granted under the Plan; (iii) adopt rules and guidelines for the administration of the Plan that are consistent with the Plan; and (iv) interpret, amend or revoke any such rules and guidelines. The Committee may terminate the Plan at any time, for any and no reason, and may also amend the Plan in order to reduce or increase the amount of any Award payments at any time, for any or no reason. The decisions and interpretations of the Committee and its delegates shall in every case be final and binding on all persons having an interest in the Plan and shall be afforded the maximum deference permitted by applicable law, shall be reviewed under an “abuse of discretion” standard of review, and shall be upheld as long as reasonable. The Committee may designate the Secretary of the Company or any other Company employee to assist the Committee in the administration of the Plan, and may grant authority to such persons to execute Award Agreements or other documents entered into under the Plan on behalf of the Committee or the Company. The Committee hereby delegates all of its discretion and authority under the Plan as to all Participants (other than Participants who are Section 16 officers of the Company) to each other member of the Approving Group, each of whom shall have all of the rights of the Committee as to such Participants; provided, however, that the Committee may act in lieu of such delegates.

Claw-back [Note: Claw-back language to be moved to a stand-alone policy]

In the event of any Inaccurate Financial Statement, (i) Covered Executives will be required to return to the Company on demand all incentive-based compensation payments made to them during the 3-year period preceding the date on which the Company is required to prepare an accounting restatement for such Inaccurate Financial Statement that are in excess of what would have been paid had such incentive-based compensation instead been determined under the accounting restatement and (ii) all earned but unpaid incentive-based compensation awarded to a Covered Executive during the 3-year period preceding the date on which the Company is required to prepare an accounting restatement for such Inaccurate Financial Statement that is in excess of what would have been earned had such incentive-based compensation instead been determined under the accounting restatement shall be forfeited. The Committee shall have final authority to determine the amount to be repaid by a Covered Executive and shall have sole and absolute discretion to offset required claw-back amounts against any payments due to Participant under the Plan. An “Inaccurate Financial Statement” is any inaccurate financial statement due to material noncompliance by the Company with any financial reporting requirements under the securities laws. “Covered Executives” are any current or former Section 16 officers of the Company.

Section 409A of the Code

It is intended that this Plan and any Awards granted hereunder shall be exempt from the definition of “non-qualified deferred compensation” within the meaning Section 409A of the Code (together with any related regulations or other guidance promulgated with respect to such Section by the U.S. Department of the Treasury of the Internal Revenue Service, collectively, “Section 409A”), and the Plan shall be interpreted accordingly. Any provision that would cause any award granted hereunder to incur additional taxes under Section 409A shall have no force or effect unless and until amended to comply with Section 409A, which amendment may be retroactive to the extent permitted by Section 409A.

No Right to Employment, Reelection or Continued Service

Nothing in this Plan or an Award granted hereunder shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment, service on the Board of Directors or other service for the Company at any time for any reason, or no reason, nor shall this Plan or an Award granted hereunder confer upon any Participant any 
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right to continue his or her employment or service for any specified period of time. Neither this Plan nor any Award hereunder shall constitute an employment contract between a Participant and the Company.

Unfunded Plan

The Plan is an unfunded plan. Participants are and shall at all times be general creditors of the Company with respect to any Awards granted under the Plan, if any.
3Exhibit 10.7

 

 

Subscription
Agreement Electronic Consent

 

Clarity of text in this document may be affected
by the screen on which it is displayed.

 

Electronic Signature (Optional)

 

☐ By
checking this box, I elect to execute any offering documents, subscription package and other documents (documents) electronically
and I understand that should I execute the documents, my electronic signature, whether digital or encrypted, included in the documents
is intended to authenticate the documents and to have the same force and effect as a manual signature. Electronic signature means
any electronic sound, symbol, or process attached to or logically associated with a record and executed and adopted by an investor
with the investor’s intent to sign such record.

 

☐ I
acknowledge that my consent to the execute any documents electronically may be updated or cancelled at any time by calling S2K
Financial LLC at 877.227.4141 from 9:00 am to 5:00 pm EST Monday-Friday.

 

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	Steele Creek Capital Corporation	Subscription Agreement 

 

1. INVESTMENT

 

	Subscription Amount:	$	 	 ̈  Check this box if investor is intending to waive commission paid to registered representative or is purchasing through an RIA or participating in a wrap account or fee-only account approved by the broker-dealer or RIA.
	 
	Investment Type:	☐	 Initial Investment ($25,000 minimum)	☐	 Additional
Investment ($5,000 minimum)  State of Sale: ____
	 	 	 	 	 	 

2. OWNERSHIP TYPE (Select only one.)

 

	 	 	Non-Custodial Accounts	 	 	
        Custodial Accounts

        (The Custodian must sign and provide a Medallion
        Signature Guarantee in Section 12)

	 	 	 	 	 	 
	 	☐	Individual	 	☐	Traditional IRA
	 		 	 	 	 
	 	☐	Individual or Joint TOD1	 	☐	ROTH IRA
	 		 	 	 	 
	 	☐	Tenants in Common (All parties must sign.)	 	☐	SEP IRA
	 		 	 	 	 
	 	☐	Community Property (All parties must sign.)	 	☐	KEOGH Plan
	 		 	 	 	 
	 	☐	Joint Tenants w/ Rights of Survivorship (All parties must sign.)	 	☐	Other (including

        Beneficiary IRA)       ______________________

	 		 	 	 	 
	 	☐	Partnership (Authorized signature required.)2	 	 	Custodian Information
	 		 	 	 	 
	 	☐	Corporate Ownership (Authorized signature required.)3	 	 	Name of Custodian _____________________
	 		 	 	 	 
	 	☐	Limited Liability Company (Authorized signature required.)4	 	 	Mailing Address   _____________________
	 		 	 	 	 
	 	☐	Estate (Personal representative.)5	 	 	 _____________________
	 		 	 	 	 
	 	☐	Qualified Pension Plan (Authorized signature required.)	 	 	 _____________________
	 		 	 	 	 
	 	☐	Trust6	 	Custodian Tax ID Number  _____________________
	 		 	 	 	 
	 	☐	Other       __________________________	 	Custodian Account Number _________________
	 	 	 	 	 	 
	Required documentation: 1) Fill out Transfer on Death information in Section 3D to effect designation 2) Title and signature pages of the partnership agreement. 3) Articles of incorporation 4) LLC Agreement 5) Letters of testamentary or letters of administration or a small estate affidavit 6)Title and signature pages of the trust or a trust certification form.	 	Custodian Telephone Number _______________

 

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	3.	SUBSCRIBER INFORMATION
	 	 
	A.	Entity Name – Partnership/LLC/Corporation/Trust/Other
	 	(Trustee(s) and/or authorized signatory(s) information MUST be provided in Sections 3B and 3C.)

	 	Entity Name	Tax ID Number	Date of Trust
	 	 	 	 
	 	Entity Type (Select one. Required)	 	 

	 	 ̈ Retirement Plan	 ̈ Trust	 ̈ S-Corp	 ̈ C-Corp	 ̈ LLC	 ̈ Partnership	 ̈ Other___________
	 	 	 	 	 	 	 	 

 

	B.	Investor (Investor/Trustee/Executor/Authorized Signatory Information)

	 	First Name	Middle Name	Last Name	Daytime Phone Number
	 	 	 	 	 
	 	 	 	 	 
	 	Social Security Number	Date of Birth (MM/DD/YYYY)	E-mail Address
	 	 	 	 	 

 

	 	Mailing Address (if PO Box or Principal Place of Business, complete residential address section is required)	City	State	Zip Code
	 	 	 	 	 
	 	 	 	 	 
	 	Residential Address (Leave blank if Residential/Mailing Address are the same)	City	State	Zip Code
	 	 	 	 	 

 

	 	If Non-U.S. Citizen, Specify Country of Citizenship and select one below (Required)

	 	 ̈ Resident
    Alien	 ̈  Non-Resident Alien (Attach a completed  Form W8-BEN)	 
	 	 	 	 

 

	C.	Co-Investor (Co-Investor/Co-Trustee/Co-Authorized Signatory Information, if applicable.
	 	Beneficiary IRA: complete deceased’s Name, Social Security Number, Date of Birth and Date of Death)

	 	First Name	Middle Name	Last Name	Daytime Phone Number
	 	 	 	 	 

 

	 	Social Security Number	Date of Birth (MM/DD/YYYY)	Date of Death (MM/DD/YYYY)	E-mail Address
	 	 	 	 	 

 

	 	Mailing Address (if PO Box or Principal Place of Business, complete residential address section is required)	City	State	Zip Code
	 	 	 	 	 
	 	 	 	 	 
	 	Residential Address (Leave blank if Residential/Mailing  Address are the same)	City	State	Zip Code
	 	 	 	 	 

 

	 	If Non-U.S. Citizen, Specify Country of Citizenship and select one below (Required)

	 	 ̈ Resident
    Alien	 ̈ Non-Resident
    Alien (Attach a completed Form W8-BEN)	 

 

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	3.	SUBSCRIBER
    INFORMATION (continued)
	 	 
	 	Transfer
    on Death Beneficiary Information (Individual or Joint Account with rights of survivorship only.)
	 	(Not
    available for Louisiana residents. Beneficiary Date of Birth required. Whole percentages only; must equal 100%.)

 

	 	First
    Name	(MI)	Last
    Name	SSN:	Date
    of Birth (MM/DD/YYYY)	☐	Primary
	 	 	 	 	 	 	☐	Secondary	 	%
	 	 	 	 	 	 	 	 	 	 

 

	 	First
    Name	(MI)	Last
    Name	SSN:	Date
    of Birth (MM/DD/YYYY)	☐	Primary
	 	 	 	 	 	 	☐	Secondary	 	%
	 	 	 	 	 	 	 	 	 	 

 

	 	First
    Name	(MI)	Last
    Name	SSN:	Date
    of Birth (MM/DD/YYYY)	☐	Primary
	 	 	 	 	 	 	☐	Secondary	 	%
	 	 	 	 	 	 	 	 	 	 

 

	4.	DISTRIBUTIONS
    (Select only one.)
	 	 
	 	Complete
    this section to elect how to receive cash distributions.  If this section is not completed distributions will be
    sent to address of record set forth above.
	 	For
    Custodial held accounts, the funds must be sent to the Custodian
	 	I
    hereby elect the distribution option indicated below:

	 	A.	☐ 	Check
    Mailed to the address set forth above (Available for Non-Custodial Investors only.)
	 	B.	☐	Check
    Mailed to Third Party

	 	Name/Entity
    Name/Financial Institution	Mailing
    Address
	 	 	 
	 	 	 

	 	City	State	Zip
    Code	Account
    Number (Required)
	 	 	 	 	 

 

	 	C.	☐ 	Direct
    Deposit. Attach a pre-printed voided check. (Non-Custodial Investors Only)

 

	 	I
    authorize Steele Creek Capital Corporation (the Company) or its agent to deposit my distribution into my checking or savings
    account. This authority will remain in force until I notify the Company in writing to cancel it. In the event that the Company
    deposits funds erroneously into my account, they are authorized to debit my account for an amount not to exceed the amount
    of the erroneous deposit.

	 	Name/Entity
    Name/Financial Institution	Mailing
Address
	 	 	 

	 	City	State	Zip
    Code	 
	 	 	 	 	 

	 	ABA/Routing
    Number	Account
    Number	☐ Checking
    Account	☐ Savings
    Account

 

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	5.	ELECTRONIC DELIVERY

 

		 ̈	Check here for electronic delivery and complete this Section
5.

 

Electronic delivery of stockholder communication
is available and if you would prefer to receive such communications and statements electronically for the Company, please affirmatively
elect to do so by signing below where indicated.

 

The Company encourages you to reduce printing
and mailing costs and to conserve natural resources by electing to receive electronic delivery of stockholder communications. By
consenting below to electronically receive stockholder communications, including your account information, you authorize the Company
to either (i) email stockholder notifications to you directly or (ii) make them available on the Company’s website and notify
you by email when such documents are available and how to access the documents.

 

Your email address will be held in confidence
and used only for matters relating to your investment.

 

You will not receive paper copies of these
electronic materials unless specifically requested, the delivery of electronic materials is prohibited or the Company, in its sole
discretion, elects to send paper copies of the materials.

 

Sign below if you consent to the electronic
delivery of documents for the Company, including annual reports, proxy materials and any other documents that may be required to
be delivered under federal or state securities laws as well as account-specific information such as tax information. Your consent
will be effective until you revoke it. In addition, by consenting to electronic access, you will be responsible for your customary
Internet Service Provider charges in connection with access to these materials. An email address in the section below is required.
Please carefully read the following representations before consenting to receive documents electronically.

 

Joint Accounts: If your Social Security
number is the primary number on a joint account and you opt-in for electronic delivery, each consenting stockholder must have access
to the email account provided.

 

By signing below and consenting to receive
documents electronically, you represent the following:

 

		(a)	I acknowledge that access to both the Internet and email is required in order to access documents
electronically. I may receive by email notification access to a document in electronic format. The notification email will contain
a web address (or hyperlink) where the document can be found. By entering this address into my web browser, I can view, download
and print the document from my computer. I acknowledge that there may be costs associated with the electronic access, such as usage
charges from my Internet Service Provider and telephone provider, and that these costs are my responsibility.

		(b)	I acknowledge that the documents distributed electronically may be provided in Adobe’s Portable
Document Format (PDF). The Adobe Reader® software is required to view documents in PDF format. The Reader software is available
free of charge from Adobe’s website at www.adobe.com. The Reader software must be correctly installed on my system before
I will be able to view documents in PDF format. Electronic delivery also involves risks related to system or network outage that
could impair my timely receipt of or access to stockholder communications.

		(c)	I acknowledge that I may receive at no cost from the Company a paper copy of most documents delivered
electronically by calling Investor Services at 877-227-4141.

		(d)	I acknowledge that if the email notification is returned to the Company as “undeliverable,”
the Company will resume sending paper copies of materials to my address of record.

		(e)	I acknowledge that my consent may be canceled by sending
a signed written request to the email address or mailing address for the Company provided on the signature page of this Subscription
Agreement.

 

Electronic Delivery Acknowledgment Only

 

	X	 	 	 	X	 	 	 
	 	Signature of Investor	 	Date	 	Signature of Co-Investor	 	Date

 

	 	Investor E-mail
	 	 

 

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	6.	ACCREDITED INVESTOR STATUS

 

The
undersigned hereby certifies that the Investor is an “accredited investor” as such term is defined under Regulation D
promulgated under the Securities Act, pursuant to the following representations, and agrees to promptly notify the Company and
the  Registered Representative if the undersigned no longer remains an “accredited investor” as such term
is defined under Regulation D promulgated under the Securities Act:

 

For
Individuals, Individual Retirement Accounts, and Keogh Plans: (Please check all that apply)

 

	 	☐ 	I
    have an individual net worth, or my spouse and I have a combined net worth, in excess of $1,000,000.1
	 	☐ 	I
    had individual income (exclusive of any income attributable to my spouse) of more than $200,000 in each of the past two years,
    or joint income with my spouse of more than $300,000 in each of those years, and I reasonably expect to reach the same income
    level in the current year.
	 	☐ 	The
    Investor is an individual retirement account or Keogh plan, the individual for whose benefit the investment in the Company
    is being made has directed such investment, and such individual is an accredited investor because such individual has a net
    worth or income as described above.
	 	☐ 	I
    am a director or executive officer of the Company.

 

For
Trusts: (Please check all that apply)

 

	 	☐	The
    Investor is a trust with total assets in excess of $5,000,000, was not formed for the specific purpose of acquiring Shares,
    and its purchase is directed by a person who has such knowledge and experience in financial and business matters that it is
    capable of evaluating the merits and risk of the prospective investment.
	 	☐	The
    Investor is a trust having as its trustee or co-trustee a bank as defined in Section 3(a)(2) of the Securities Act, a
    savings and loan association, or another institution as defined in Section 3(a)(5)(A) of the Securities Act, which makes
    or participates in the investment decision.
	 	☐	The
    Investor is a revocable trust which may be amended or revoked at any time by the grantors thereof and all of the grantors
    are accredited investors.
	 	 
	 	For
    Corporations, Foundations, Endowments, Partnerships, LLCs or Massachusetts or Similar Business Trusts: (Please check all that
    apply.)
	 	 
	 	☐	The
    Investor has total assets in excess of $5,000,000 and was not formed for the specific purpose of acquiring Shares.
	 	☐	All
        of the Investor’s equity owners are accredited investors.

        Note:
        A trust (other than a business trust, real estate investment trust or other similar entities) may not claim this basis
        for being an accredited investor.

 

For
Employee Benefit Plans: (Please check all that apply)

 

	 	☐	The
    Investor is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, as amended
    (“ERISA”), and the decision to invest in the Company was 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 advisor.
	 	☐	The
    Investor is an employee benefit plan within the meaning of ERISA and has total assets in excess of $5,000,000.
	 	☐ 	The
    Investor is a 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 and has total assets in excess of $5,000,000.
	 	 
	 	For
    Participant-Directed or Self Directed Plans: (Please check all that apply)
	 	 
	 	☐	The
    Investor is a participant-directed or self-directed plan (i.e., a tax-qualified defined contribution plan in which a participant
    may exercise control over the investment of assets credited to his or her account), the participant for whose benefit the
    investment in the Company is being made has directed such investment, and such participant is an accredited investor because
    such participant has a net worth or income as described above for Individuals.

 

I
declare that the information supplied above is true and correct and may be relied upon by the Company.

 

 

 

	1	For purposes of this Subscription Agreement, “net
worth” means the excess of total assets at fair market value, including cash, stock, securities, personal property and real
estate (other than your primary residence), over total liabilities (other than a mortgage or other debt secured by your primary
residence). In the event that the amount of any mortgage or other indebtedness secured by your primary residence exceeds the fair
market value of the residence, that excess liability should also be deducted from your net worth. Any mortgage or indebtedness
secured by your primary residence incurred within 60 days before the time of the sale of the securities offered hereunder, other
than as a result of the acquisition of the primary residence, shall also be deducted from your net worth.

 

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	7.	SUBSCRIPTION
FOR SHARES

 

	 	(A)	The
    offer and sale of Shares in the Company is being made pursuant to a private placement exemption provided in Section 4(2) of
    the Securities Act and Rule 506 promulgated thereunder, by means of a private placement memorandum dated [●] 2020, as
    supplemented or amended (the “Memorandum”). Investor hereby irrevocably subscribes for and agrees to purchase
    Shares on the terms provided for herein and in the Memorandum, and is delivering the Investment Amount set forth in Section
    1 above with this subscription agreement as payment for the Shares. The Investor agrees to and understands the terms and conditions
    upon which the Shares are being offered, including, without limitation, the risk factors referred to in the Memorandum.
	 	(B)	Shares
    will be purchased and sold, and the Investor admitted as a shareholder of the Company, when the Company accepts the Investor’s
    subscription for Shares and payment for the Shares is received by the Company (the “Closing”). The Closing will
    be as of such date (the “Closing Date”) as is specified by the Company in a notice to the Investor whose subscription
    for Shares is accepted as of such Closing Date. Shares subscribed for herein shall not be deemed to be issued to, or owned
    by, the Investor prior to the Closing.
	 	(C)	The
    Investor understands and agrees that the Company has the right, to be exercised in its sole discretion, to accept or reject
    any subscription in whole or in part for a period of 30 days after receipt of the subscription. Any subscription not accepted
    within 30 days of receipt shall be deemed rejected. In the event of rejection of this subscription, this Subscription Agreement
    shall have no force or effect.
	 	(D)	The
    effectiveness of this Subscription Agreement and the obligation of the Investor to be bound hereunder shall be subject to
    the satisfaction of the following conditions at Closing:

	 	(1)	On
    the Closing Date, the Investor’s subscription hereunder shall be permitted by the laws and regulations of each jurisdiction
    to which the Investor is subject.

	 	(2)	If
on the Closing Date any of the conditions specified in this Subscription Agreement shall not have been fulfilled, the Investor
shall, upon delivery of written notice to the Company prior to the Closing Date, be relieved of all further obligations under
this Subscription Agreement.

         

	8.	REPRESENTATIONS
AND WARRANTIES OF INVESTOR

 

By
executing the Subscription Agreement, Investor represents, warrants and agrees as follows:

 

	 	(A)	The
    Investor will not sell or otherwise transfer the Shares, directly or indirectly, without the consent of the Company (which
    consent may be withheld for any or no reason by the Company in its sole and absolute discretion) without registration under
    the Securities Act or an exemption therefrom, and the Investor fully understands and agrees that it must bear the economic
    risk of its investment for an indefinite period of time because, among other reasons, the Shares have not been registered
    under the Securities Act or under the securities laws of certain states of the United States or other jurisdictions in reliance
    on exemptions from such registration and, therefore, cannot be resold, pledged, assigned or otherwise disposed of unless they
    are subsequently registered under the Securities Act and under applicable securities laws of such states of the United States
    or other jurisdictions or an exemption from such registration is available. The Investor understands that the Company is not
    under any obligation to register the Shares on its behalf or to assist it in complying with any exemption from such registration
    under the Securities Act or otherwise. The Investor understands that there is no established market for the Shares and no
    public market for the Shares is likely to develop. It also understands that sales or transfers of the Shares are further restricted
    by the securities laws of the states of the United States and of other jurisdictions. The Company may condition any consent
    on receipt from the Investor of an opinion of counsel and certificates, covenants, representations or warranties reasonably
    acceptable to the Company. Any such transfer made without the consent of the Company shall be void and shall not at any time
    have any force or effect.
	 	(B)	The
    Investor has received and carefully read a copy of the Memorandum outlining, among other things, the organization and investment
    objectives and policies of, and the risks of an investment in, the Company as well as the fees and conflicts of interest to
    which the Company is subject. The Investor acknowledges that in making a decision to subscribe for Shares, the Investor has
    relied solely upon the Memorandum. The Investor agrees that the contents of the Memorandum and related documents is to be
    kept confidential and the Investor has not reproduced, duplicated or delivered the Memorandum or this Subscription Agreement
    to any other person, except to professional advisors of the Investor.

 

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	 	(C)	The
    Investor has been given the opportunity to ask questions of, and receive answers from, the Company concerning the business
    to be conducted by the Company and the terms and conditions of the offering and has been given the opportunity to obtain such
    additional information necessary to verify the accuracy of the information contained in the Memorandum and other materials
    authorized by the Company received from the Company or the Investor’s  Registered Representative, including
    all Company documents, records and books, or that which was otherwise provided in order for the Investor to evaluate the merits
    and risks of the purchase of Shares to the extent the Company possesses such information or can acquire it without unreasonable
    efforts or expense, and has not relied on any offering literature except as mentioned herein or in the Memorandum.
	 	(D)	The
    Investor has not been furnished with any oral or written representation in connection with the offering of the Shares which
    is not contained herein, in the Memorandum, or in other materials authorized by the Company received from the Company or the
    Investor’s  Registered Representative.
	 	(E)	The
    Investor is not relying on the Company with respect to individual tax and other economic considerations involved in this investment.
    Regarding the tax and other economic considerations related to this investment, the Investor has relied on the advice of,
    or has consulted with, only its own advisors. An Investor in the Company who is a tax-exempt entity acknowledges that the
    Company may generate unrelated business taxable income (“UBTI”) and that neither the Company nor any of its affiliates
    will have any liability to such Investor by reason of the Company generating UBTI.
	 	(F)	The
    Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the
    merits and risks of the Investor’s investment in the Shares and is able to bear such risks, and has obtained, in the
    Investor’s judgment, sufficient information from the Investor’s  Registered Representative, the Company
    or its authorized representatives to evaluate the merits and risks of such investment. The Investor has evaluated the risks
    of investing in the Shares and has determined that the Shares are a suitable investment for the Investor.
	 	(G)	The
    Investor has the financial ability to bear the economic risk of its investment in the Shares, has adequate means for providing
    for its current needs and personal or other contingencies and has no need for liquidity with respect to its investment in
    the Shares. The Investor has determined that it could bear a complete loss of this investment.
	 	(H)	The
    Investor is acquiring the Shares subscribed for herein for its own account, for investment purposes only and not with a view
    to distribute or resell such Shares in whole or in part, no other Person has a direct or indirect ownership interest in the
    Shares other than as a stockholder in, partner or member of, or, if the Investor is a trust, beneficiary of, the Investor,
    and there are no put, call, or similar arrangements with respect to the Shares.
	 	(I)	If
    the undersigned is, or is investing on behalf of, a tax-exempt entity (including an IRA), a qualified pension, profit sharing,
    or stock bonus plan or a tax-exempt educational organization, the undersigned represents that the undersigned and the Investor
    have each consulted with knowledgeable, independent tax and ERISA advisors in evaluating an investment in the Company as a
    permissible and an appropriate investment after taking into consideration, among other factors, the diversification requirements
    of Section 404(a)(3) of ERISA and the illiquidity of the investment, and have concluded it is an appropriate investment under
    the plan documents, including that the investment will not result in a non exempt prohibited transaction under Section 406
    of ERISA or Section 4975 of the Code if applicable, and is consistent with any fiduciary obligations the undersigned and the
    governing body of such Investor may have under ERISA or other applicable law. The undersigned represents that it is independent
    of the Company or any of its affiliates and that neither the undersigned nor the Investor is relying on any advice with respect
    to such matters from the Company or its representatives or agents but, rather, has made an independent evaluation of the risks
    and benefits of such an investment. The Investor deliver to the Company in writing all of the information that the Company
    may request in order to avoid violations of any provision of ERISA or any other laws applicable to the Investor, and promptly
    will notify the Company, in writing, of any change in the information so furnished.

	 	(J)	The
    Investor agrees and is aware that:

	 	(1)	no
    U.S. federal or state agency has passed upon the Shares or made any findings or determination as to the fairness of this investment;
	 	(2)	there
    are substantial risks of loss of investment (including the risk of loss of the entire amount invested) incidental to the purchase
    of the Shares, including those summarized in the Memorandum;
	 	(3)	any
    statements, estimates or projections that have been provided are forward-looking statements and are based on estimates and
    assumptions that may prove incorrect, and actual results could differ materially from forward-looking statements and targeted
    results; and
	 	(4)	the
    Company and its affiliates may provide similar services to investment funds in which the Investor will have no interest and
    there may be other potential conflicts as described in the Memorandum.

	 	(K)	The
    execution, delivery and performance by the Investor of this Subscription Agreement are within the powers of the Investor,
    have been duly authorized and will not constitute or result in a breach or default under, or conflict with, any order, ruling
    or regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking,
    to which the Investor is a party or by which the Investor is bound, and, if the Investor is not an individual, will not violate
    any provisions of the organizational documents of the Investor. The signature on this Subscription Agreement is genuine, and
    the signatory, if the Investor is an individual, has legal competence and capacity to execute the same, or, if the Investor
    is not an individual, the signatory has been duly authorized to execute the same, and this Subscription Agreement constitutes
    a legal, valid and binding obligation of the Investor, enforceable against the Investor in accordance with its terms.

 

    8

     

    

 

 

	 	(L)	The
    Investor agrees to timely furnish additional information or documentation regarding its ownership structure and the Investor’s
    suitability if the Company reasonably requests such information or documentation.
	 	(M)	The
    Investor represents and covenants that (i) the Investor is not (1) identified on the U.S. Department of Treasury Office of
    Foreign Assets Control (“OFAC”) list of Specially Designated Nationals and Blocked Persons (the “SDN List”);
    (2) owned or controlled by or acting on behalf of any person or entity listed on the SDN List; (3) to the best of Investor’s
    knowledge, the target of any sanction, regulation, or law promulgated by OFAC or any other U.S. governmental entity (such
    sanctions, regulations and laws, together with any supplement or amendment thereto, the “U.S. Sanctions Laws”)
    such that the entry into this Agreement or the performance of any of the transactions contemplated hereby would contravene
    such U.S. Sanctions Laws; or (4) to the best of Investor’s knowledge, owned or controlled by or acting on behalf of
    any person or entity that is the target of any U.S. Sanctions Laws such that the entry into this Agreement or the performance
    of any of the transactions contemplated hereby would contravene such U.S. Sanctions Laws; (ii) the monies used to fund the
    Investor’s investment in the K Shares and/or Units have not been and will not be derived from or related to any illegal
    activities, including but not limited to, money laundering activities, and the proceeds from the Investor’s investment
    in the Units will not be used to finance any illegal activities; and (iii) the acceptance of this Agreement, together with
    related payments, will not breach any applicable money laundering or related rules or regulations (including, without limitation,
    any statutes, rules or regulations in effect under the laws of the United States pertaining to prohibitions on money laundering
    or anti-terrorist financing or to transacting business or dealing in property that may be blocked or may belong to Specially
    Designated Nationals as those terms are used by OFAC).
	 	(N)	Investor
    acknowledges and agrees that the Company and its affiliates may release confidential information given by the Investor to
    the Company about the Investor to regulatory or law enforcement authorities, if the Company, in its sole and absolute discretion,
    determines that it is in the best interest of the Company to do so, or to such parties as the Company may deem advisable if
    it is called upon to establish the availability under any applicable law of an exemption from registration of the Shares or
    the Company, to demonstrate compliance or to comply with any laws, rules or regulations to which the Company or any other
    service provider providing services to any of the foregoing is or becomes subject, or if the contents thereof are relevant
    to any issue in any action, suit, or proceeding to which the Company is a party or by which it is or may be bound, or to lenders,
    attorneys, accountants, prospective Investors and service providers and other representatives or advisors in the ordinary
    course of business.
	 	(O)	If
    the undersigned is acquiring the Shares in a fiduciary capacity: (i) the foregoing representations, warranties and agreements
    shall be deemed to have been made on behalf of the person or persons for whose benefit such Shares are being acquired; (ii)
    the name of such person or persons is indicated herein; and (iii) such further information as the Company deems appropriate
    shall be furnished regarding such person or persons.
	 	(P)	The
    Investor shall indemnify, defend and hold harmless the Company and any of its managers, officers, employees, partners, agents,
    directors or controlling persons (each, an “Indemnified Party” and collectively, the “Indemnified Parties”)
    who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding,
    whether civil, criminal, administrative or investigative, against losses, liabilities and expenses of each Indemnified Party
    (including attorneys’ fees, judgments, fines and amounts paid in settlement, payable as incurred) incurred by such person
    or entity in connection with such action, arbitration, suit or proceeding, by reason of or arising from (i) any misrepresentation
    or misstatement of facts or omission to represent or state facts made by the undersigned, including, without limitation, the
    information in this Subscription Agreement, or (ii) litigation or other proceeding brought by the undersigned against an Indemnified
    Party wherein the Indemnified Party is the prevailing party.
	 	(Q)	The
    Investor agrees and is aware that the Company, Steele Creek Investment Management LLC (“Investment Advisor”) and
    S2K Financial LLC (the “Dealer Manager”), and their respective officers, directors, employees and affiliates are
    not undertaking to provide impartial investment advice or to give advice in a fiduciary capacity in connection with the offering
    of the Shares, and that the Company, the Investment Advisor and the Dealer Manager have financial interests associated with
    the purchase of the Shares, as described in the Memorandum, including fees, expense reimbursements and other payments they
    anticipate receiving from the Company in connection with the purchase of the Shares.
	 	(R)	The
    foregoing representations, warranties and agreements shall survive the Closing and the termination of the Company. The Investor
    agrees to notify the Company of any changes prior to Closing.

 

I
declare that the information supplied above is true and correct and may be relied upon by the Company.

 

    9

     

    

 

 

 

	9.	MISCELLANEOUS

  

	 	(A)	This
    Subscription Agreement, and the documents referenced in this Subscription Agreement, constitute the entire agreement among
    the parties hereto with respect to the subject matter hereof and supersede any prior or contemporaneous understandings, representations,
    warranties or agreements (whether oral or written) and may be amended only by a writing executed by all parties.
	 	(B)	This
    Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Maryland, without reference
    to conflict of law or choice of law rules.

 

	10.	Texas
        Residents Only - Designation of Representative for Notice Request (Form 98-1036) (Optional)

        Texas
        Property Code, Title 6, Section 74.1011 requires businesses, financial institutions and other holders of unclaimed property
        to mail a written notice to the last known address of known owners of property to inform them that, due to inactivity,
        their accounts may be delivered to the Texas Comptroller. Effective Sept. 1, 2017, Texas Property Code, Title 6, sections
        72.1021 and 73.103 allow the owners of financial accounts, mutual funds or contents of a safe deposit box to designate
        representatives for their accounts, for the purpose of receiving the notice required in Section 74.1011. The owner of
        the account(s) may, but is not required to, designate the name and a mailing or email address of a representative of the
        owner only for the purpose of receiving the notice required in Section 74.1011. To designate a representative to receive
        notices for your account(s), please complete the Designation of Representative for Notice Request form.

 

	11.	SUBSCRIBER
SIGNATURE TO SUBSCRIPTION AGREEMENT

 

	 	(A)	The
    Company is required by law to obtain, verify and record certain personal information from you or persons on your behalf in
    order to admit you as a Shareholder of the Company. Required information includes name, date of birth, permanent residential
    address and social security/taxpayer identification number. The Company may also ask to see other identifying documents. If
    you do not provide the information, the Company may not be able to admit you as a Shareholder of the Company. By signing the
    Subscription Agreement, you agree to provide this information and confirm that this information is true and correct. If the
    Company is unable to verify your identity, or that of another person(s) authorized to act on your behalf, or if the Company
    believes it has identified potentially criminal activity, the Company reserves the right to take action as it deems appropriate,
    which may include removing you as a Shareholder.
	 	(B)	IN
    WITNESS WHEREOF, intending to irrevocably bind the undersigned and the personal representatives, successors, and assigns of
    the undersigned, by signing below on the date indicated, the undersigned hereby executes, adopts and agrees to be bound by
    all of the terms, conditions, representations, and agreements of this Subscription Agreement and is delivering with this Subscription
    Agreement the Investment Amount set forth in Section 1 above as payment for the Shares.

 

TAXPAYER
IDENTIFICATION/SOCIAL SECURITY NUMBER CONFIRMATION (required): The Investor signing below, under penalties of perjury, certifies
that: (i) the number shown on this Subscription Agreement is my correct taxpayer identification number (or I am waiting for
a number to be issued to me); (ii) I am not subject to backup withholding because (a) I am exempt from backup withholding,
(b) I have not been notified by the Internal Revenue Service (“IRS”) that I am subject to backup withholding
as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject
to backup withholding; and (iii) I am a U.S. person (including a resident alien).

 

		NOTE:	You
must cross out (ii) above if you have been notified by the IRS that you are currently subject to backup withholding because you
have failed to report all interest and dividends on your tax return.

 

The
IRS does not require consent to any provision of this document other than the certifications required to avoid backup withholding.

  

	
        X

         
	 	 	 	 X	 	 	 
	 	Signature of Investor	 	Date	 	
        Signature of Co-Investor or Custodian

        (If applicable.)
	 	Date

  

Medallion Signature Guarantee:

  

 

\ 

    10

     

    

 

 

	12.	BROKER-DEALER/REGISTERED
REPRESENTATIVE/REGISTERED INVESTMANT ADVISOR INFORMATION (Required Information. All fields must be completed.)

 

The Registered Representative (RR) or Registered Investment
Advisor (RIA) must sign below to complete the order. Please note that unless previously agreed to in writing by the Company, all
sales of securities must be made through a broker-dealer, including when an RIA has introduced the sale. In all cases, this Section 6
must be completed. The Registered Representative must sign below. The RR or RIA and broker-dealer hereby warrants that he/she is
duly licensed and may lawfully sell Shares in the state designated as the investor’s legal residence, or the state in which
the sale was made, if different.

 

	Broker-Dealer/RIA Firm

                                                                                 
	Registered Representative/RIA Name
	Mailing Address

                                                                                 
	City	State	Zip Code
	Registered Representative/RIA Number

                                                                                 
	Branch Number	 	Telephone Number
	E-mail Address

                                                                                 
	 	Fax Number
	 	 	 	 	 	 	 

The undersigned confirm(s), which confirmation is made on behalf
of the Broker-Dealer with respect to sales of securities made through a Broker-Dealer, that they (i) have a substantive,
pre-existing relationship with the Investor, and have reasonable grounds to believe that the information and representations concerning
the Investor identified herein are true, correct and complete in all respects; (ii) have discussed such Investor’s
prospective purchase of Shares with such Investor; (iii) have advised such Investor of all pertinent facts with regard to
the lack of liquidity and marketability of the Shares, and apprised the Investor of the risks of an investment in the Shares as
described in the Memorandum (as defined herein); (iv) have delivered the Memorandum and related supplements, if any, to such
Investor; (v) have reasonable grounds to believe that the Investor is purchasing these Shares for his or her own account;
and (vi) have reasonable grounds to believe that the purchase of Shares is a suitable investment for such Investor and that
such Investor is in a financial position to enable such Investor to realize the benefits of such an investment and to suffer any
loss that may occur with respect thereto.

 

The undersigned Registered
Representative certifies and agrees that:

 

“I am not and have
not been the subject of a “disqualifying event” as described in Rule 506(d) promulgated under the Securities Act
of 1933, as amended (the “Securities Act”), that would require disclosure in the Memorandum or that would
adversely affect the Company’s reliance on any federal or state securities registration exemption. I agree that I shall promptly
notify the Company and my Broker-Dealer home office if I become the subject of a disqualifying event after the date hereof and
through the termination of the offering of Shares.”

  

The undersigned Registered Representative further represents
and certifies that, in connection with this subscription for Shares, he or she has complied with and has followed all applicable
policies and procedures under his or her firm’s existing Anti-Money Laundering Program and Customer Identification Program,
including OFAC compliance.

 

	X	 	 	 	 X	 	 	 
	 	Representative/RIA Signature	 	Date	 	
        Signature of Authorized Principal

        (If required by Broker-Dealer)
	 	Date

 

    11

     

    

 

 

13. SUBSCRIPTION AND PAYMENT INSTRUCTIONS

 

Return to:

 

Steele Creek Capital Corporation

Mailing Address:

 

USBGFS c/o Steele Creek

615 E. Michigan Ave

Milwaukee, WI 53202

 

Checks should be made payable
to: Steele Creek Capital Corporation

 

Subscription agreements that
do not require a Medallion Signature Guarantee (non-custodial accounts) may be emailed directly to alternativefundsupport@usbank.com.

 

Wire transfers:

 

	  ABA Routing Number	   	  075000022
	Account Number	 	1-823-8356-9791

	Account Name	U.S. BANCORP FUND SERVICES, LLC FBO STEELE CREEK CAPITAL

  

Please include
investor’s name in the reference field

 

 

IF YOU NEED FURTHER ASSISTANCE, PLEASE CALL S2K FINANCIAL LLC
AT (877) 227-4141.

 

 

12

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