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  Exhibit 4.1    
    

 
 

  MAUI LAND & PINEAPPLE COMPANY, INC.    
    

 
    SUBSCRIPTION FORM    
    

 
 

  Investor ID Number                          
    

THIS SUBSCRIPTION FORM, INCLUDING THE ACCOMPANYING INSTRUCTIONS, SHOULD BE READ CAREFULLY BEFORE THIS SUBSCRIPTION FORM IS COMPLETED. 

        Maui
Land & Pineapple Company, Inc. (the "Company") is conducting an offering (the "Rights Offering") of non-transferable subscription rights (the "Rights") to
subscribe for and purchase shares of its common stock (the "Common Stock"). The Rights are being offered to all holders of record of the Common Stock as
of                                    (the "Record Date").
Pursuant to the Rights Offering, each stockholder is receiving one Right for each share of Common Stock owned as of the Record Date. Each Right entitles a stockholder of record to purchase
                                    shares of Common Stock (the
"Basic Subscription Privilege") at the cash price of $            per share (the
"Subscription Price"). In addition, each holder of Rights that exercises its Basic Subscription Privilege in full is eligible to purchase any portion of
the shares of Common Stock not purchased by other stockholders of record through the exercise of their Basic Subscription Privilege at the same Subscription Price of $            per share
(the
"Over-Subscription Privilege"). If over-subscription requests exceed the number of shares of Common Stock available for purchase
in the Rights Offering, the Company will allocate the available shares of Common Stock pro rata among each stockholder that exercises the Over-Subscription Privilege in proportion to the
number of shares of Common Stock owned by such stockholder on the Record Date, relative to the number of shares owned on the Record Date by all stockholders exercising the
Over-Subscription Privilege. Fractional Rights or cash in lieu of fractional rights will not be issued in the Rights Offering. Fractional shares will be rounded down to the nearest whole
number. 

        The
Rights will expire if they are not exercised by 5:00 p.m., New York time,
on                                    , unless the Company extends the
Rights Offering period (such date and time, as it
may be extended, the "Expiration Date"). All exercises of the Rights are irrevocable. 

        For
a more complete description of the terms and conditions of the Rights Offering, please refer to the Prospectus,
dated                                    (the "Prospectus"), which is
incorporated herein
by reference. Copies of the Prospectus may be obtained from BNY Mellon Shareowner Services ("BNY"), the subscription agent and information agent for the Rights Offering. In addition, any questions or
requests for assistance regarding the Rights Offering should be directed to BNY. You may call BNY toll free from within the United States, Canada or Puerto Rico by calling
1-866-282-2358 or you may call BNY collect from outside the United States, Canada or Puerto Rico by calling 1-201-680-6579. 

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Exhibit 4.1

MAUI LAND & PINEAPPLE COMPANY, INC.

SUBSCRIPTION FORM

Investor ID NumberEXHIBIT 4.1

 

	
  NUMBER

  SW

  	
   

  	
  

  	
   

  	
  SHARES

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  INCORPORATED UNDER THE

  LAWS OF THE STATE

  OF DELAWARE

  	
   

  	
   

  	
   

  	
  CUSIP 785135 10 4

  SEE REVERSE FOR CERTAIN
  DEFINITIONS

  

 

THIS
CERTIFIES THAT

 

 

is the
record holder of

 

FULLY PAID
AND NONASSESSABLE SHARES OF COMMON STOCK, $0.001 PAR VALUE, OF

 

S&W
SEED COMPANY

 

Transferable on the books
of the corporation in person or by duly authorized attorney upon surrender of
this Certificate properly Endorsed. This Certificate is not valid until
countersigned by the Transfer Agent and registered by the Registrar.

 

WITNESS the facsimile
seal of the Corporation and the facsimile signatures of its duly authorized
officers.

 

Dated:

 

 

	
  COUNTERSIGNED
  AND REGISTERED: TRANSFER ONLINE,
  INC.

  	
   

  
	
   

  	
  [SEAL]

  	
   

  
	
  512 SE
  Salmon, Portland, OR 97214

  	
   

  	
   

  
	
  (503)
  227 - 2950

  	
   

  	
  PRESIDENT

  
	
   

  	
   

  	
   

  
	
  By: 

  	
   

  	
   

  	
   

  
	
   

  	
  Registrar-Authorized Signature

  	
   

  	
  SECRETARY

  

 

 

S&W SEED COMPANY

 

UPON WRITTEN REQUEST, THE
CORPORATION WILL FURNISH TO ANY STOCKHOLDER, WITHOUT CHARGE, A FULL STATEMENT
OF THE DESIGNATION, PREFERENCE, LIMITATIONS AND RELATIVE RIGHTS APPLICABLE TO
THE SHARES OF EACH CLASS OF STOCK AUTHORIZED TO BE ISSUED AND, WITH
RESPECT  TO ANY PREFERRED OR SPECIAL CLASS THAT
THE CORPORATION IS AUTHORIZED TO ISSUE IN SERIES, THE VARIATIONS IN RIGHTS,
PREFERENCES AND LIMITATIONS FOR SHARES OF EACH SUCH SERIES, SO FAR AS THE SAME
HAVE BEEN FIXED AND DETERMINED, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO
FIX AND DETERMINE THE RELATIVE RIGHTS AND PREFERENCES OF SUBSEQUENT SERIES.

 

The following abbreviations, when used in the inscription on
the face of this certificate, shall be construed as though they were written
out in full according to applicable laws or regulations:

 

	
  TEN COM

  	
   — 

  	
  as tenants
  in common

  	
  UNIF GIFT MIN ACT— 

  	
   

  	
  Custodian

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (Cust)

  	
   

  	
  (Minor)

  
	
  TEN ENT

  	
   — 

  	
  as tenants by the entireties

  	
   

  	
  under Uniform Gifts to Minors Act

  
	
  JT TEN

  	
   — 

  	
  as joint
  tenants with right

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  of
  survivorship and not as 

  	
   

  	
   

  	
  (State)

  	
   

  
	
   

  	
   

  	
  tenants in
  common

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  UNIF TRF MIN ACT— 

  	
   

  	
  Custodian (until age       )

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (Cust)

  	
   

  	
  (Minor)

  
	
   

  	
   

  	
   

  	
   

  	
  under Uniform Transfers to Minors Act

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  (State)

  	
   

  

 

Additional abbreviations may
also be used though not in the above list.

 

FORM OF ASSIGNMENT

(TO BE SIGNED UPON ASSIGNMENT)

 

FOR
VALUE RECEIVED,                                                                                          
hereby sell, assign and transfer unto

 

 

	
  PLEASE INSERT SOCIAL
  SECURITY OR OTHER

  IDENTIFYING NUMBER OF ASSIGNEE

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

 

(PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)

 

 

____________________________________________________________________________________________ shares of the
capital stock represented by the within Certificate, and do hereby irrevocably
constitute and appoint

 

_______________________________________________________________________________________
attorney-in-fact To transfer the said stock on the books of the within named
Corporation with full power of substitution in the premises.

 

	
  Dated 

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  X

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  X

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  NOTICE: 

  	
  THE SIGNATURE(S) SHOULD BE
  GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS
  AND LOAN ASSOCIATIONS AND CREDIT UNIONS) WITH MEMBERSHIP IN AN APPROVED
  SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.EXHIBIT 4.2

 

	
  NUMBER

  SWU

  	
   

  	
  

  	
   

  	
  UNITS

  

 

	
  INCORPORATED
  UNDER THE

  LAWS OF THE STATE

  OF DELAWARE

  	
  UNIT CERTIFICATE

   

  	
  CUSIP 785135 20 3

  SEE REVERSE FOR CERTAIN DEFINITIONS

  
	
  EACH
  UNIT CONSISTING OF TWO SHARES OF COMMON STOCK, $0.001

  PAR VALUE, ONE REDEEMABLE CLASS A WARRANT AND ONE

  REDEEMABLE CLASS B WARRANT

  

 

THIS CERTIFIES THAT

 

 

 

or registered assigns
(the “Registered Holder”) is the owner of the number of Units specified above,
each of which consists of two shares of common stock $0.001 par value, of
S&W Seed Company (the “Common Stock”), one redeemable Class A warrant
and one redeemable Class B warrant, each warrant to purchase one share of
Common Stock (collectively, the Warrants”). On or prior to the Separation Date
(as defined herein), the securities evidenced by this certificate may be
combined, exchanged or transferred only as Units, and the Common Stock and
Warrants evidenced by this Certificate may not be split up, exchanged or traded
separately. The Units will separate into shares of Common Stock and Warrants as
of the close of business on
               ,
2010 (the “Separation Time”). The shares of Common Stock and the Warrants
comprising the Units shall be separately tradeable commencing on the first day
after the Separation Time on which The Nasdaq Capital Market is open for
trading. The Warrants comprising part of the Units are issued under and
pursuant to a certain Warrant Agreement dated as of
         , 2010 (the “Warrant
Agreement”) between S&W Seed Company and Transfer Online, Inc., as
warrant agent (the “Warrant Agent”) and are subject to the terms and provisions
contained therein and on the face of the certificates covered thereby, to all
of which terms and provisions the holder of this Unit Certificate consents by
acceptance hereof. The Warrant Agreement provides for adjustment to the
exercise price of the Warrants evidenced hereby and in the number of shares of
Common Stock to be delivered upon the exercise of Warrants in certain events
set forth therein.

 

Copies of the Warrant
Agreement are available for inspection at the stock transfer office of the
Warrant Agent and Registrar or may be obtained upon written request addressed
to S&W Seed Company, at P.O. Box 235, Five Points, CA 93624,
attention:  Chief Financial Officer.

 

This Unit Certificate is not
valid unless countersigned by the Warrant Agent and Registrar of the Company.

 

WITNESS the facsimile
seal of the Corporation and the facsimile signatures of its duly authorized
officers.

 

Dated:

 

 

COUNTERSIGNED
AND REGISTERED: TRANSFER ONLINE,
INC.

 

	
  512 SE Salmon, Portland, OR 97214

  	
   

  	
  [SEAL]

  	
  PRESIDENT

  
	
  (503) 227 - 2950

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Registrar-Authorized Signature

  	
   

  	
   

  	
  SECRETARY

  

 

 

S&W SEED COMPANY

 

The
Registered Holder hereby is entitled, at any time after the Separation Time (as
defined on the face hereof) to exchange the Units represented by this Unit
Certificate for Common Stock Certificate(s) representing two shares of
Common Stock for each Unit represented by this Unit Certificate and Warrant
Certificate(s) representing one redeemable Class A Warrant for each
Unit represented by this Unit Certificate and one redeemable Class B
Warrant for each Unit represented by this Unit Certificate, upon surrender of
this Unit Certificate to the Transfer Agent and Registrar, together with any
documentation required by such agent.

 

The following abbreviations, when used in the inscription on
the face of this certificate, shall be construed as though they were written
out in full according to applicable laws or regulations:

 

	
  TEN COM

  	
  —

  	
  as tenants in common

  	
  UNIF GIFT MIN ACT—

  	
   

  	
  Custodian

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (Cust)

  	
   

  	
  (Minor)

  
	
  TEN ENT

  	
  —

  	
  as tenants by the entireties

  	
   

  	
  under Uniform Gifts to
  Minors Act

  
	
  JT TEN

  	
  —

  	
  as joint tenants with right

  of survivorship and not as

  tenants in common

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (State)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  UNIF TRF MIN ACT—

  	
   

  	
  Custodian (until age

       )

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (Cust)

  	
   

  	
  (Minor)

  
	
   

  	
   

  	
   

  	
   

  	
  under Uniform Transfers to
  Minors Act

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  (State)

  	
   

  
									

 

Additional abbreviations may
also be used though not in the above list.

 

FORM OF ASSIGNMENT

(TO BE SIGNED UPON ASSIGNMENT)

 

FOR VALUE RECEIVED,
                                                                                             
hereby sell, assign and transfer unto

 

	
  PLEASE INSERT SOCIAL SECURITY OR OTHER

  IDENTIFYING NUMBER OF ASSIGNEE

  	
   

  	
   

  

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 

 

(PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)

 

 

 

___________________________________________________________________________________________________
shares of the capital stock represented by the within Certificate, and do
hereby irrevocably constitute and appoint

 

_____________________________________________________________________________________
attorney-in-fact

To
transfer the said stock on the books of the within named Corporation with full
power of substitution in the premises.

 

	
  Dated

  	
   

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  X

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  X

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  NOTICE:

  	
  THE SIGNATURE(S) SHOULD BE
  GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS
  AND LOAN ASSOCIATIONS AND CREDIT UNIONS) WITH MEMBERSHIP IN AN APPROVED
  SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.

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