Document:

csi8k10_6.htm

CERTIFICATE OF DESIGNATIONS OF

SERIES B CONVERTIBLE PREFERRED STOCK

COPSYNC, INC.

The undersigned, Russell D. Chaney, Chief Executive Officer of COPsync, Inc., does hereby certify:

 

(a)           that he is, and at all times mentioned herein was, the duly elected and acting Chief Executive Officer of COPsync, Inc., a Delaware corporation (the “Corporation”);

 

(b)           that the Corporation’s Amended and Restated Certificate of Incorporation, as amended, (the “Certificate of Incorporation”), authorizes the directors to adopt resolutions fixing the designations,
powers, preferences and rights, and such qualifications, limitations or restrictions thereof, of any unissued series of Preferred Stock; and

 

(c)           the Board of Directors adopted the following resolutions on October 14, 2009:

 

WHEREAS, the Certificate of Incorporation authorizes a class of stock designated Preferred Stock (the “Preferred Stock”), comprising 1,000,000 shares, par value $0.0001 per share, provides for a series of Preferred Stock designated Series A Preferred Stock (the “Series
A Stock”), consisting of 100,000 shares, and provides that all or any remaining shares of the Preferred Stock may be issued from time to time in one or more series, and vests authority in the Board of Directors of the Corporation, within the limitations and restrictions stated in Article IV of the Certificate of Incorporation, to fix, in one or more series, for each such series such designations, powers, preferences and rights and such qualifications, limitations or restrictions thereof, as may be
stated and expressed in the resolution or resolutions adopted by the Board of Directors providing for the issue of such series (a “Preferred Stock Designation”) within the limitations set forth in the Delaware General Corporation Law;

 

WHEREAS, the Corporation has not previously filed with the Secretary of the State of Delaware a Preferred Stock Designation with respect to any remaining shares of the Corporation’s authorized but unissued Preferred Stock;

 

WHEREAS, based on the foregoing, there remains 900,000 shares of the Corporation’s authorized but unissued Preferred Stock eligible for Preferred Stock Designations by the Corporation with respect to new series thereof;

 

WHEREAS, the Corporation proposes to make an offering of up to 375,000 shares of Preferred Stock (the “Offering”); and

 

WHEREAS, it is the desire of the Board of Directors to designate a series of Preferred Stock and to fix the powers, preferences and rights, and the designations, powers, preferences and rights and such qualifications, limitations or restrictions thereof in connection with the Offering;

 

  

  

  

            NOW, THEREFORE, BE IT RESOLVED, that the Corporation, does hereby designate 375,000 shares of authorized but unissued Preferred Stock as Series B Convertible Preferred Stock (the “Series B Preferred Stock”)
and does hereby fix the designations, powers, preferences and rights, and such qualifications, limitations or restrictions thereof, of the Series B Preferred Stock as follows:

 

 

1.      Definitions.  For purposes of this Preferred Stock Designation, the following definitions shall apply:

 

(a)           “Common Stock” means the Common Stock, $0.0001 par value, of the Corporation.

 

(b)           “Conversion Price” means $0.10 per share for the Series B Preferred Stock (subject to adjustment from time to time for Recapitalizations and as otherwise set forth elsewhere herein).

 

(c)           “Convertible Securities” means any evidences of indebtedness or other obligations of the Corporation, shares or other securities convertible into or exchangeable for Common Stock.

 

(d)           “Corporation” means COPsync, Inc., a Delaware corporation.

 

(e)           “Distribution” means the transfer of cash or other property without consideration whether by way of dividend or otherwise, other than dividends on Common Stock payable in Common Stock, or the purchase or
redemption of shares of the Corporation by the Corporation for cash or property other than: (i) repurchases of Common Stock issued to or held by employees, officers, directors or consultants of the Corporation upon termination of their employment or services pursuant to agreements providing for the right of said repurchase, (ii) repurchases of Common Stock issued to or held by employees, officers, directors or consultants of the Corporation or its subsidiaries pursuant to rights of first refusal contained
in agreements providing for such right, (iii) repurchase of capital stock of the Corporation in connection with the settlement of disputes with any stockholder, and (iv) any other repurchase or redemption of capital stock of the Corporation approved by the stockholders of the Corporation; provided, however, that any purchase or redemption described in clauses (i) through (iv) above must be subject to the unanimous approval of the Corporation’s
Board of Directors, with any director whose shares are being purchased or redeemed, if any abstaining from such vote.

 

(f)           “Dividend Rate” means an annual rate of 7.0%, or $0.28 per share, for the Series B Preferred Stock (subject to adjustment from time to time for Recapitalizations as set forth elsewhere herein).

 

(g)           “Investors’ Rights Agreement” means that certain Investors’ Rights Agreement, of even date hereof, by and among the Corporation and the initial purchasers of the Series B Preferred Stock, as
amended.

 

(h)           “Liquidation Preference” means $4.00 per share for the Series B Preferred Stock (subject to adjustment from time to time for Recapitalizations as set forth elsewhere herein).

 

 

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

2

  

(i)           “Options” means rights, options or warrants to subscribe for, purchase or otherwise acquire Common Stock or Convertible Securities.

 

(j)           “Original Issue Price” means $4.00 per share for the Series B Preferred Stock (subject to adjustment from time to time for Recapitalizations as set forth elsewhere herein).

 

(k)           “Purchase Agreement” means that certain Securities Purchase Agreement, of even date hereof, by and among the Corporation and the initial purchasers of the Series B Preferred Stock.

 

(l)           “Recapitalization” means any stock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similar event.

 

2.      Dividends.

 

(a)           Series B Preferred Stock.  In any calendar year, the holders of outstanding shares of Series B Preferred Stock shall be entitled to receive and shall accrue dividends, out of any assets at the time
legally available therefor, at the Dividend Rate specified for the Series B Preferred Stock, which dividends shall be payable in preference and priority to any declaration or payment of any Distribution on Common Stock or Series A Stock of the Corporation in such calendar year.  Such dividends shall be cumulative and shall accrue on each share from day to day, beginning on the date of original issuance of such share, whether or not earned or declared.  Dividends accruing on each share of Series
B Preferred Stock shall be added to the Liquidation Preference of such share from day to day, and will remain a part thereof until such dividends are paid as provided herein.  No Distributions shall be made with respect to the Common Stock or the Series A Stock unless dividends, through the end of the calendar year in which such Distribution is made, on the Series B Preferred Stock have been declared in accordance with the preferences stated herein and all declared dividends on the Series B Preferred
Stock have been paid or set aside for payment to the Series B Preferred Stock holders.

 

(b)           Additional Dividends.  The Corporation shall not declare, set aside or pay any dividends on any share of Common Stock or the Series A Stock (other than dividends on Common Stock payable solely in
Common Stock) unless a dividend (including the amount of any dividends paid pursuant to the above provisions of this paragraph 2) is declared and set aside or paid with respect to all outstanding shares of Series B Preferred Stock in an amount for each share of Series B Preferred Stock at least equal to the aggregate amount of the dividends for all shares of Common Stock into which each such share of Series B Preferred Stock could then be converted, calculated on the record date for determination of holders entitled
to receive such dividend.

 

(c)           Non-Cash Distributions.  Whenever a Distribution provided for in this paragraph 2 shall be payable in property other than cash, the value of such Distribution shall be deemed to be the fair market
value of such property as determined in good faith by the Board of Directors.

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

3

  

(d)           Waiver of Dividends.  Any dividend preference of the Series B Preferred Stock may be waived, in whole or in part, by the consent or vote of the holders of all of the outstanding shares of such series.

 

3.      Liquidation Rights.

 

(a)           Liquidation Preference.  In the event of any liquidation, dissolution or winding up of the Corporation, either voluntary or involuntary, the holders of the Series B Preferred Stock shall be entitled
to receive, prior and in preference to any Distribution of any of the assets of the Corporation to the holders of the Common Stock by reason of their ownership of such stock, an amount per share for each share of Series B Preferred Stock held by them equal to the sum of (i) the Liquidation Preference specified for each share of Series B Preferred Stock and (ii) all declared but unpaid dividends (if any) on each share of Series B Preferred Stock, or such lesser amount as may be approved by the holders
of all of the outstanding shares of Series B Preferred Stock.  If upon the liquidation, dissolution or winding up of the Corporation, the assets of the Corporation legally available for distribution to the holders of the Series B Preferred Stock are insufficient to permit the payment to such holders of the full amounts specified in this paragraph 3(a), then the entire assets of the Corporation legally available for distribution
shall be distributed pro rata among the holders of the Series B Preferred Stock in proportion to the number of shares of Series B Preferred Stock held by them.

 

(b)           Remaining Assets.  After the payment or setting aside for payment to the holders of Series B Preferred Stock of the full amounts specified in paragraph 3(a) above,
the entire remaining assets of the Corporation legally available for distribution shall be distributed pro rata to holders of the Common Stock of the Corporation in proportion to the number of shares of Common Stock held by them.

 

(c)           Shares not Treated as Both Preferred Stock and Common Stock Upon Liquidation.  Upon the liquidation of the Corporation, shares of Series B Preferred Stock shall not be entitled to be converted into
shares of Common Stock in order to participate in any Distribution, or series of Distributions, as shares of Common Stock, without first foregoing participation in the Distribution, or series of Distributions, as shares of Series B Preferred Stock.

 

(d)           Deemed Liquidation.  For purposes of this paragraph 3, a liquidation, dissolution or winding up of the Corporation shall be deemed to be occasioned by,
or to include, (i) the acquisition of the Corporation by another entity by means of any transaction or series of related transactions to which the Corporation is party (including, without limitation, any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock for capital raising purposes) other than a transaction or series of transactions in which the holders of the voting securities of the Corporation outstanding immediately prior to such transaction retain, immediately
after such transaction or series of transactions, as a result of shares in the Corporation held by such holders prior to such transaction, at least a majority of the total voting power represented by the outstanding voting securities of the Corporation or such other surviving or resulting entity (or if the Corporation or such other surviving or resulting entity is a wholly-owned subsidiary immediately following such acquisition, its parent); (ii) a sale, lease or other disposition of all or substantially
all of the assets of the Corporation and its subsidiaries taken as a whole by means of any transaction or series of related transactions, except where such sale, lease or other disposition is to a wholly-owned subsidiary of the Corporation; (iii) an exclusive license of all or substantially all of the Corporation’s intellectual property in a single transaction or series of related transaction, except where such exclusive license
is to a wholly-owned subsidiary of the Corporation; or (iv) any liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary.  The treatment of any transaction or series of related transactions as a liquidation, dissolution or winding up pursuant to clause (i), (ii) or (iii) of the preceding sentence may be waived by the consent or vote of at least a majority of the outstanding Series B Preferred Stock.

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

4

  

 

(e)           Valuation of Non-Cash Consideration.  If any assets of the Corporation distributed to stockholders in connection with any liquidation, dissolution, or winding up of the Corporation are other than
cash, then the value of such assets shall be their fair market value as determined in good faith by the Board of Directors, except that any publicly-traded securities to be distributed to stockholders in a liquidation, dissolution, or winding up of the Corporation shall be valued as follows:

 

(i)      If the securities are then traded on a national securities exchange, then the value of the securities shall be deemed to be the average of the closing prices of the securities on such exchange over the ten (10) trading day period ending five (5) trading days prior to the Distribution;

 

(ii)      if the securities are actively traded over-the-counter, then the value of the securities shall be deemed to be the average of the closing bid prices of the securities over the ten (10) trading day period ending five (5) trading days prior to the Distribution.

In the event of a merger or other acquisition of the Corporation by another entity, the Distribution date shall be deemed to be the date such transaction closes.  For the purposes of this paragraph 3(e), “trading
day” shall mean any day which the exchange or system on which the securities to be distributed are traded is open and “closing prices” or “closing bid prices” shall be deemed to be: (i) for securities traded primarily on the New York Stock Exchange, the American Stock Exchange or a Nasdaq market, the last reported trade price or sale price, as the case may be,
at 4:00 p.m., New York time, on that day and (ii) for securities listed or traded on other exchanges, markets and systems, the market price as of the end of the regular hours trading period that is generally accepted as such for such exchange, market or system.  If, after the date hereof, the benchmark times generally accepted in the securities industry for determining the market price of a stock as of a given trading day shall change from those set forth above, the fair market value shall be determined
as of such other generally accepted benchmark times.

 

4.      Conversion.  The holders of the Series B Preferred Stock shall have conversion rights as follows:

 

(a)           Right to Convert.  Each share of Series B Preferred Stock shall be convertible, at the option of the holder thereof, at any time after the date of issuance of such share at the office of the Corporation
or any transfer agent for the Series B Preferred Stock, into that number of fully-paid, nonassessable shares of Common Stock determined by dividing the Original Issue Price for the Series B Preferred Stock by the Conversion Price for the Series B Preferred Stock.  The number of shares of Common Stock into which each share of Series B Preferred Stock may be converted is hereinafter referred to as the “Conversion Rate.”  Upon any
decrease or increase in the Conversion Price for the Series B Preferred Stock, as described in this paragraph 4, the Conversion Rate for such series shall be appropriately increased or decreased.

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

5

  

 

(b)           Automatic Conversion.  Each share of Series B Preferred Stock shall automatically be converted into fully-paid, non-assessable shares of Common Stock at the then effective Conversion Rate for such
share (i) ninety (90) days after the Corporation has reported net income, in accordance with generally accepted accounting principles, for two (2) consecutive quarters, as reported in its quarterly reports on Form 10-Q (or annual report on Form 10-K, if applicable) filed under the Securities Exchange Act of 1934, as amended, (ii) on the date that the Corporation closes on the sale of securities to purchasers other than holders of the Series B Preferred Stock that was subject to the right of first refusal
set forth in Section 3.1 of the Investors’ Rights Agreement, and the purchasers of such securities require that the Series B Preferred Stock be converted into Common Stock as a condition to such closing, or (iii) upon the receipt by the Corporation of a written request for such conversion from the holders of all of the Series B Preferred Stock then outstanding, or, if later, the effective date for conversion specified in such requests (each of the events referred to in (i) through (iii) are referred
to herein as an “Automatic Conversion Event”).

 

(c)           Mechanics of Conversion.  No fractional shares of Common Stock shall be issued upon conversion of Series B Preferred Stock.  In lieu of any fractional shares to which the holder would otherwise
be entitled, the Corporation shall pay cash equal to such fraction multiplied by the then fair market value of a share of Common Stock as determined by the Board of Directors.  For such purpose, all shares of Series B Preferred Stock held by each holder of Series B Preferred Stock shall be aggregated, and any resulting fractional share of Common Stock shall be paid in cash.  Before any holder of Series B Preferred Stock shall be entitled to convert the same into full shares of Common Stock,
and to receive certificates therefor, the holder shall either (A) surrender the certificate or certificates therefor, duly endorsed, at the office of the Corporation or of any transfer agent for the Series B Preferred Stock or (B) notify the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and execute an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates, and shall give written
notice to the Corporation at such office that the holder elects to convert the same; provided, however, that on the date of an Automatic Conversion Event, the outstanding shares of Series B Preferred Stock shall be converted automatically without any further action by the holders of such shares and whether or not the certificates representing such shares are surrendered to the Corporation or its transfer agent; provided
further, however, that the Corporation shall not be obligated to issue certificates evidencing the shares of Common Stock issuable upon such Automatic Conversion Event unless either the certificates evidencing such shares of Series B Preferred Stock are delivered to the Corporation or its transfer agent as provided above, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify
the Corporation from any loss incurred by it in connection with such certificates.  On the date of the occurrence of an Automatic Conversion Event, each holder of record of shares of Series B Preferred Stock shall be deemed to be the holder of record of the Common Stock issuable upon such conversion, notwithstanding that the certificates representing such shares of Series B Preferred Stock shall not have been surrendered at the office of the Corporation, that notice from the Corporation shall not
have been received by any holder of record of shares of Series B Preferred Stock, or that the certificates evidencing such shares of Common Stock shall not then be actually delivered to such holder.

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

6

  

The Corporation shall, as soon as practicable after such delivery, or after such agreement and indemnification, issue and deliver at such office to such holder of Series B Preferred Stock, a certificate or certificates for the number of shares of Common Stock to which the holder shall be entitled as aforesaid and a check payable to the holder
in the amount of any cash amounts payable as the result of a conversion into fractional shares of Common Stock, plus any declared and unpaid dividends on the converted Series B Preferred Stock payable, as the option of the Corporation’s Board of Directors, (i) in cash or (ii) shares of Common Stock at the then fair market value of the Common Stock at the time of the conversion, as determined pursuant to paragraph 3(e) above.  Such conversion shall be deemed to have been made immediately prior
to the close of business on the date of such surrender of the shares of Series B Preferred Stock to be converted, and the person or persons entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock on such date; provided, however, that if the conversion is in connection with a merger, sale, financing, or liquidation of the Corporation or other
event, the conversion may, at the option of any holder tendering Series B Preferred Stock for conversion, be conditioned upon the closing of such transaction or upon the occurrence of such event, in which case the person(s) entitled to receive the Common Stock issuable upon such conversion of the Series B Preferred Stock shall not be deemed to have converted such Series B Preferred Stock until immediately prior to the closing of such transaction or the occurrence of such event.

 

(d)           Adjustments for Diluting Issues.

 

(i)      Special Definition.  For purposes of this paragraph 4(d), “Additional Shares of Common” shall mean all shares of
Common Stock issued (or, pursuant to paragraph 4(d)(iii), deemed to be issued) by the Corporation after the filing of this Preferred Stock Designation, other than issuances or deemed issuances of:

 

(1)      shares of Common Stock and options, warrants or other rights to purchase Common Stock issued or issuable to employees, officers or directors of, or consultants or advisors to the Corporation or any subsidiary pursuant to stock grants, restricted stock purchase agreements, employment agreements, option
plans, purchase plans, incentive programs or similar arrangements approved by the Board of Directors, including the affirmative vote of the Series B Director (as defined herein);

 

(2)      shares of Common Stock issued upon the exercise or conversion of Options or Convertible Securities outstanding as of the date of the filing of this Preferred Stock Designation, to the extent of the amounts disclosed in the Purchase Agreement;

 

(3)      shares of Common Stock issued to officers of the Corporation pursuant to the terms of written employment agreements existing as of the date of the filing of this Preferred Stock Designation, to the extent of the amounts disclosed in the Purchase Agreement; and

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

7

  

(4)           shares of Common Stock issued or issuable as a dividend or Distribution on Series B Preferred Stock.

 

(ii)      No Adjustment of Conversion Price.  No adjustment in the Conversion Price of the Series B Preferred Stock shall be made in respect of the issuance of Additional Shares of Common unless the consideration per share (as determined
pursuant to paragraph 4(d)(v)) for such Additional Shares of Common issued or deemed to be issued by the Corporation is less than the Conversion Price in effect on the date of, and immediately prior to such issue, for the Series B Preferred Stock.

 

(iii)                 Deemed Issue of Additional Shares of Common.  In the event the Corporation at any time or from time to time after the date of the filing of this Preferred Stock
Designation shall issue any Options or Convertible Securities or shall fix a record date for the determination of holders of any class of securities entitled to receive any such Options or Convertible Securities, then the maximum number of shares (as set forth in the instrument relating thereto without regard to any provisions contained therein for a subsequent adjustment of such number) of Common Stock issuable upon the exercise of such Options or, in the case of Convertible Securities, the conversion or exchange
of such Convertible Securities or, in the case of Options for Convertible Securities, the exercise of such Options and the conversion or exchange of the underlying securities, shall be deemed to have been issued as of the time of such issue or, in case such a record date shall have been fixed, as of the close of business on such record date, provided that in any such case in which shares are deemed to be issued:

 

(1)      no further adjustment in the Conversion Price of the Series B Preferred Stock shall be made upon the subsequent issue of Convertible Securities or shares of Common Stock in connection with the exercise of such Options or conversion or exchange of such Convertible Securities;

 

(2)      if such Options or Convertible Securities by their terms provide, with the passage of time or otherwise, for any increases in the consideration payable to the Corporation or decreases the number of shares of Common Stock issuable upon the exercise, conversion or exchange thereof, which increase or decrease
actually occurs (other than a change pursuant to the anti-dilution provisions of such Options or Convertible Securities such as this paragraph 4(d) or pursuant to Recapitalization provisions of such Options or Convertible Securities such as paragraphs 4(e), 4(f) and 4(g) hereof), the Conversion Price of the Series B Preferred Stock and any subsequent adjustments based thereon shall be recomputed to reflect such change as if such change had been in effect as of the original
issue thereof (or upon the occurrence of the record date with respect thereto);

 

(3)      no readjustment pursuant to clause (2) above shall have the effect of increasing the Conversion Price of the Series B Preferred Stock to an amount above the Conversion Price that would have resulted from any other issuances of Additional Shares of Common and any other adjustments provided for herein
between the original adjustment date and such readjustment date;

 

(4)      upon the expiration of any such Options or any rights of conversion or exchange under such Convertible Securities which shall not have been exercised, the Conversion Price of the Series B Preferred Stock computed upon the original issue thereof (or
upon the occurrence of a record date with respect thereto) and any subsequent adjustments based thereon shall, upon such expiration, be recomputed as if:

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

8

  

 

(a)      in the case of Convertible Securities or Options for Common Stock, the only Additional Shares of Common issued were the shares of Common Stock, if any, actually issued upon the exercise of such Options or the conversion or exchange of such Convertible Securities and the consideration received therefor
was the consideration actually received by the Corporation for the issue of such exercised Options plus the consideration actually received by the Corporation upon such exercise or for the issue of all such Convertible Securities which were actually converted or exchanged, plus the additional consideration, if any, actually received by the Corporation upon such conversion or exchange, and

 

(b)      in the case of Options for Convertible Securities, only the Convertible Securities, if any, actually issued upon the exercise thereof were issued at the time of issue of such Options, and the consideration received by the Corporation for the Additional Shares of Common deemed to have been then issued
was the consideration actually received by the Corporation for the issue of such exercised Options, plus the consideration deemed to have been received by the Corporation (determined pursuant to paragraph 4(d)(v)) upon the issue of the Convertible Securities with respect to which such Options were actually exercised; and

 

(5)      if such record date shall have been fixed and such Options or Convertible Securities are not issued on the date fixed therefor, the adjustment previously made in the Conversion Price which became effective on such record date shall be canceled as of the close of business on such record date, and thereafter
the Conversion Price shall be adjusted pursuant to this paragraph 4(d)(iii) as of the actual date of their issuance.

 

(iv)                 Adjustment of Conversion Price Upon Issuance of Additional Shares of Common.  In the event the Corporation shall issue Additional Shares of Common (including
Additional Shares of Common deemed to be issued pursuant to paragraph 4(d)(iii)) without consideration or for a consideration per share less than the applicable Conversion Price of the Series B Preferred Stock in effect on the date of and immediately prior to such issue, then, the Conversion Price of the Series B Preferred Stock shall be reduced, concurrently with such issue, to a price (calculated to the nearest cent) determined
by multiplying such Conversion Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such issue plus the number of shares which the aggregate consideration received by the Corporation for the total number of Additional Shares of Common so issued would purchase at such Conversion Price, and the denominator of which shall be the number of shares of Common Stock outstanding immediately prior to such issue plus the number of such Additional Shares
of Common so issued.  Notwithstanding the foregoing, the Conversion Price shall not be reduced at such time if the amount of such reduction would be less than $0.01, but any such amount shall be carried forward, and a reduction will be made with respect to such amount at the time of, and together with, any subsequent reduction which, together with such amount and any other amounts so carried forward, equal $0.01 or more in the aggregate.  For the purposes of this paragraph 4(d)(iv),
all shares of Common Stock issuable upon conversion of all outstanding shares of Series B Preferred Stock and the exercise and/or conversion of any other  outstanding Convertible Securities and all outstanding Options shall be deemed to be outstanding.  For the purposes of adjusting the Conversion Price of the Series B Preferred Stock, the grant, issue or sale of Additional Shares of Common consisting of the same class
of security and warrants to purchase such security issued or issuable at the same price at two or more closings held within a six-month period shall be aggregated and shall be treated as one sale of Additional Shares of Common occurring on the earliest date on which such securities were granted, issued or sold.

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

9

  

 

(v)      Determination of Consideration.  For purposes of this paragraph 4(d), the consideration received by the Corporation for the issue (or deemed issue) of any Additional Shares of Common
shall be computed as follows:

 

(1)      Cash and Property.  Such consideration shall:

 

(a)      insofar as it consists of cash, be computed at the aggregate amount of cash received by the Corporation before deducting any reasonable discounts, commissions or other expenses allowed, paid or incurred by the Corporation for any underwriting or otherwise in connection with such issuance;

 

(b)      insofar as it consists of property other than cash, be computed at the fair market value thereof at the time of such issue, as determined in good faith by the Board of Directors; and

 

(c)      in the event Additional Shares of Common are issued together with other shares or securities or other assets of the Corporation for consideration which covers both, be the proportion of such consideration so received, computed as provided in clauses (a) and (b) above, as reasonably determined in
good faith by the Board of Directors.

 

(2)      Options and Convertible Securities.  The consideration per share received by the Corporation for Additional Shares of Common deemed to have been issued pursuant to paragraph 4(d)(iii) shall
be determined by dividing:

(x)           the total amount, if any, received or receivable by the Corporation as consideration for the issue of such Options or Convertible Securities, plus the minimum aggregate amount of additional consideration (as set forth in the instruments relating thereto, without regard
to any provision contained therein for a subsequent adjustment of such consideration) payable to the Corporation upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities by

(y)           the maximum number of shares of Common Stock (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or the conversion or exchange of such
Convertible Securities.

 

(e)           Adjustments for Subdivisions or Combinations of Common Stock.  In the event the outstanding shares of Common Stock shall be subdivided (by stock split, by payment of
a stock dividend or otherwise), into a greater number of shares of Common Stock, the Conversion Price of the Series B Preferred Stock in effect immediately prior to such subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately decreased.  In the event the outstanding shares of Common Stock shall be combined (by reclassification or otherwise) into a lesser number of shares of Common Stock, the Conversion Price of the Series B Preferred Stock in effect immediately
prior to such combination shall, concurrently with the effectiveness of such combination, be proportionately increased.
 

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

10

  

(f)           Adjustments for Subdivisions or Combinations of Series B Preferred Stock.  In the event the outstanding shares of Series B Preferred Stock shall be subdivided (by stock split, by payment of a stock
dividend or otherwise), into a greater number of shares of Series B Preferred Stock, the Dividend Rate, Original Issue Price and Liquidation Preference of the Series B Preferred Stock in effect immediately prior to such subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately decreased.  In the event the outstanding shares of Series B Preferred Stock shall be combined (by reclassification or otherwise) into a lesser number of shares of Series B Preferred Stock,
the Dividend Rate, Original Issue Price and Liquidation Preference of the Series B Preferred Stock in effect immediately prior to such combination shall, concurrently with the effectiveness of such combination, be proportionately increased.

 

(g)           Adjustments for Reclassification, Exchange and Substitution.  Subject to paragraph 3 above (“Liquidation
Rights”), if the Common Stock issuable upon conversion of the Series B Preferred Stock shall be changed into the same or a different number of shares of any other class or classes of stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision or combination of shares provided for above), then, in any such event, in lieu of the number of shares of Common Stock which the holders would otherwise have been entitled to receive each holder of Series B Preferred Stock
shall have the right thereafter to convert shares of Series B Preferred Stock into a number of shares of such other class or classes of stock which a holder of the number of shares of Common Stock deliverable upon conversion of Series B Preferred Stock immediately before that change would have been entitled to receive in such reorganization or reclassification, all subject to further adjustment as provided herein with respect to such other shares.

 

(h)           Certificate as to Adjustments.  Upon the occurrence of each adjustment or readjustment of the Conversion Price pursuant to this paragraph 4, the Corporation at its expense shall promptly, but
in no event later than fifteen (15) days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Series B Preferred Stock a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based.  The Corporation shall, upon the written request at any time of any holder of Series B Preferred Stock, furnish or cause to be furnished to such holder a like certificate setting
forth (i) such adjustments and readjustments, (ii) the Conversion Price at the time in effect and (iii) the number of shares of Common Stock and the amount, if any, of other property which at the time would be received upon the conversion of Series B Preferred Stock.

 

(i)           Waiver of Adjustment of Conversion Price.  Notwithstanding anything herein to the contrary, any downward adjustment of the Conversion Price of Series B Preferred Stock
may be waived by the consent or vote of the holders of all of the outstanding shares of such series either before or after the issuance causing the adjustment.  Any such waiver shall bind all future holders of shares of Series B Preferred Stock.

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

11

  

 

(j)           Notices of Record Date.  In the event that the Corporation shall propose at any time:

 

(i)      to declare any Distribution upon its Common Stock, whether in cash, property, stock or other securities, whether or not a regular cash dividend and whether or not out of earnings or earned surplus;

 

(ii)      to effect any reclassification or recapitalization of its Common Stock outstanding involving a change in the Common Stock; or

 

(iii)                 to voluntarily liquidate or dissolve or to enter into any transaction deemed to be a liquidation, dissolution or winding up of the Corporation pursuant to paragraph 3(d);

then, in connection with each such event, the Corporation shall send to the holders of the Series B Preferred Stock at least 10 days’ prior written notice of the date on which a record shall be taken for such Distribution (and specifying the date on which the holders of Common Stock shall be entitled thereto and, if applicable, the amount
and character of such Distribution) or for determining rights to vote in respect of the matters referred to in (ii) and (iii) above.

Such written notice shall be given by first class mail (or express courier), postage prepaid, addressed to the holders of Series B Preferred Stock at the address for each such holder as shown on the books of the Corporation and shall be deemed given on the date such notice is mailed.

The notice provisions set forth in this paragraph may be shortened or waived prospectively or retrospectively by the consent or vote of the holders of at least a majority of the Series B Preferred Stock.

 

(k)           Reservation of Stock Issuable Upon Conversion.  The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock solely for the purpose of effecting
the conversion of the shares of the Series B Preferred Stock, such number of its shares of Common Stock as shall from time to time be sufficient to effect the conversion of all then outstanding shares of the Series B Preferred Stock; and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding shares of the Series B Preferred Stock, the Corporation will take such corporate action as may, in the opinion of its counsel,
be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.

 

5.      Voting.

 

(a)           Restricted Class Voting.  Except as otherwise expressly provided herein or as required by law, the holders of Series B Preferred Stock and the holders of Common Stock shall vote together and not as
separate classes.

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

12

  

(b)           No Series Voting.  Other than as provided herein or required by law, there shall be no series voting.

 

(c)           Series B Preferred Stock.  Each holder of Series B Preferred Stock shall be entitled to the number of votes equal to the number of shares of Common Stock into which the shares of Series B Preferred
Stock held by such holder could be converted as of the record date.  Fractional voting rights resulting from the above formula (after aggregating all shares into which shares of Series B Preferred Stock held by each holder could be converted) shall be rounded up to the nearest whole number.  Except as otherwise expressly provided herein or as required by law, the holders of shares of the Series B Preferred Stock shall be entitled to vote on all matters on which the Common Stock shall be entitled
to vote.  Holders of Series B Preferred Stock shall be entitled to notice of any stockholders’ meeting in accordance with the Bylaws of the Corporation.

 

(d)           Election of Directors.  As long as 175,000 shares of the Series B Preferred Stock shall be issued and outstanding (subject to appropriate adjustments upon any Recapitalization Events), at each meeting
or pursuant to each consent of the Corporation’s stockholders for the election of directors, the holders of record of Series B Preferred Stock, voting as a separate class, shall be entitled to elect one (1) member of the Corporation’s Board of Directors (the “Series B Director”).  Any director elected as provided in the preceding sentence may be removed without cause by,
and only by, the affirmative vote of the holders of the Series B Preferred Stock, given either at a special meeting of such stockholders duly called for that purpose or pursuant to a written consent of stockholders.

 

6.      Amendments and Changes.  As long as any shares of the Series B Preferred Stock shall be issued and outstanding (subject to appropriate adjustments upon any Recapitalization Events), the Corporation shall not, either directly or
indirectly, by amendment, merger, consolidation, reclassification or otherwise, without first obtaining the approval (by vote or written consent as provided by law) of the holders of at least a majority of the then outstanding shares of the Series B Preferred Stock:

 

(a)           amend, alter, suspend or repeal the rights, preferences, privileges or powers of, or restrictions provided for the benefit of the Series B Preferred Stock;

 

(b)           authorize, create or issue any new class or series of equity security, or any other security, convertible debt, debenture, option, warrant or similar instrument providing the holder with the right to acquire shares of any class of stock or security having rights, preferences
or privileges with respect to dividends, redemption or payments upon liquidation senior to or on a parity with the Series B Preferred Stock, including in connection with a merger, consolidation, purchase of substantially all of the assets of or the reorganization of the Corporation, or formation of a joint venture involving the Corporation or its business or assets;

 

(c)           reclassify any outstanding shares (including shares issuable under existing convertible debts, options, warrants or similar instruments) into shares having preferences with respect to dividends, redemption or payments upon liquidation, dissolution or winding up of the Corporation
senior to or on a parity with the Series B Preferred Stock, including in connection with a merger, consolidation, purchase of substantially all of the assets of or the reorganization of the Corporation, or formation of a joint venture involving the Corporation or its business or assets;
 

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

13

  

 

(d)           increase or decrease the authorized number of shares of Series B Preferred Stock; or

 

(e)           increase the annual total cash compensation of any executive officer of the Corporation above $160,000 until the Corporation has reported net income, in accordance with generally accepted accounting principles, for two (2) consecutive quarters, as reported in its quarterly
reports on Form 10-Q (or annual report on Form 10-K, if applicable) filed under the Securities Exchange Act of 1934, as amended.

 

7.      Reissuance of Series B Preferred Stock.  In the event that any shares of Series B Preferred Stock shall be converted pursuant to paragraph 4 or repurchased by the Corporation, the shares so converted or repurchased shall be
cancelled and shall not be issuable by the Corporation.

 

8.      Notices.  Any notice required by the provisions of this Preferred Stock Designation to be given to the holders of Series B Preferred Stock shall be deemed given if deposited in the United States mail, postage prepaid, and addressed
to each holder of record at such holder’s address appearing on the books of the Corporation.

The undersigned further certifies that the authorized number of shares of Preferred Stock is 1,000,000, the number of shares of the Series A Preferred Stock, all of which are issued, is 100,000, and the number of shares of Series B Preferred Stock, none of which has been issued, is 375,000.

 

IN WITNESS WHEREOF, COPsync, Inc. has caused this Certificate to be executed by its duly authorized representative as of October 14, 2009.

 

COPsync, Inc.

 

By:           /s/ Russell D. Chaney                                                      

Russell D. Chaney,

Chief Executive Officer

COPsync Series B Certificate of Designations (execution).doc

	  

 

  

14Unassociated Document

    

      EXHIBIT
10.1

      FORM OF SUBSCRIPTION
AGREEMENT

      

      
        
          
            	
                    To:

                  	
                    Clear
      Skies Solar, Inc.

                  

          

          
            	
                     
      

                  	
                    200
      Old Country Road, Suite 610

                  

          

          
            	
                     
      

                  	
                    Mineola,
      New York 11501-4241

                  

          

          
            	
                     
      

                  	
                    Fax:  (516)
      281-7150

                  

          

          
            	
                     
      

                  	
                    Attn:     Arthur
      Goldberg, CFO

                  

          

        

      

      

      This
Subscription Agreement (this “Agreement”) is being
delivered to the purchaser identified on the signature page to this Agreement
(the “Subscriber”) in
connection with its investment in Clear Skies Solar, Inc., a Delaware
corporation (the “Company”).  The
Company is conducting a private placement (the “Offering”) of up to
ten million shares of its common stock, par value $.001 per share (the
“Shares”).  For purposes of this Agreement, the term “Securities” shall
refer to the Shares.  The purchase price per Share shall be fixed at
$.09 (the “Purchase
Price”).  All funds received in the Offering prior to the
closing of the Offering (the “Closing”) shall be
held in escrow by the law firm of Morse, Zelnick, Rose & Lander LLP (the
“Escrow Agent”)
and, upon fulfillment of the other conditions precedent set forth herein, shall
be released from escrow and delivered to the Company at which time the Shares
subscribed for as further described below shall be delivered, subject to Section
6 hereof, to Subscriber.  Notwithstanding anything to the contrary
contained herein, in the event the funds delivered by a Subscriber are not
evenly divisible by the Purchase Price, to the extent the Company accepts such
subscription, the Company may round down to the nearest whole number the number
of Shares to be sold to such Subscriber and the Company shall be entitled to
retain any additional funds remaining due to such rounding.

       

      1.           SUBSCRIPTION AND PURCHASE
PRICE

       

      (a)           Subscription.  Subject
to the conditions set forth in Section 2 hereof, the Subscriber hereby
subscribes for and agrees to purchase the number of Shares indicated on page 7
hereof on the terms and conditions described herein.

       

      (b)           Purchase of
Shares.  The Subscriber understands and acknowledges that the
Purchase Price to be remitted to the Company in exchange for the Shares shall be
set at $.09 per Share, for an aggregate purchase price as set forth on page 7
hereof (the “Aggregate
Purchase Price”). The Subscriber’s delivery of this Agreement to the
Company shall be accompanied by payment for the Shares subscribed for hereunder,
payable in United States dollars, by wire transfer of immediately available
funds delivered contemporaneously with the Subscriber’s delivery of this
Agreement to the Company in accordance with the instructions provided on Exhibit
A.  The Subscriber understands and agrees that, subject to
Section 2 and applicable laws, by executing this Agreement, it is entering into
a binding agreement.

       

      2.           ACCEPTANCE,
OFFERING TERM AND CLOSING PROCEDURES

       

      (a)           Acceptance or
Rejection.  The obligation of the Subscriber to purchase the
Shares shall be irrevocable, and the Subscriber shall be legally bound to
purchase the Shares subject to the terms set forth in this
Agreement.  The Subscriber understands and agrees that the Company
reserves the right to reject this subscription for Shares in whole or part, at
any time prior to the Closing, for any reason, notwithstanding the Subscriber’s
prior receipt of notice of acceptance of the Subscriber’s
subscription.  In the event of rejection of this subscription by the
Company in accordance with this Section 2, or if the sale of the Shares is not
consummated by the Company for any reason, this Agreement and any other
agreement entered into between the Subscriber and the Company relating to this
subscription shall thereafter have no force or effect, and the Company shall
promptly return or cause to be returned to the Subscriber the Purchase Price
remitted to the Escrow Agent, without interest thereon or deduction
therefrom.

       

      (b)           Offering
Term.  The subscription period for the Offering will begin as
of August 1, 2009 and will terminate upon the earliest to occur of (a) September
15, 2009, unless extended by the Company, (b) the Company’s acceptance of
subscriptions for not less than $700,000.00 of Shares and the receipt of payment
therefore, or (c) the Company’s decision to terminate the Offering
sooner.

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      (c)           Closing.  The
Closing shall take place at the offices of the Company or such other place as
determined by the Company. The Closing shall take place on a Business Day
promptly following the satisfaction or waiver of the conditions set forth in
Section 6 below, as determined by the Company.  “Business Day” shall
mean from the hours of 9:00 a.m. (Eastern Time) through 5:00 p.m. (Eastern Time)
of a day other than a Saturday, Sunday or other day on which commercial banks in
New York are authorized or required to be closed. The Securities purchased by
the Subscriber will be delivered by the Company promptly following the
Closing.

       

      3.           INVESTOR’S
REPRESENTATIONS AND WARRANTIES

       

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

       

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

       

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

       

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

       

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

       

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

       

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

       

       (v)           The
Subscriber and the Subscriber’s attorney, accountant, purchaser representative
and/or tax advisor, if any (collectively, the “Advisors”) has such
knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of a prospective investment in the
Securities.  If other than an individual, the Subscriber also
represents it has not been organized solely for the purpose of acquiring the
Securities.

       

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

       

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

      
        
           

        

        
          - 2
-

          
            

          

        

        
           

        

      

      (d)           The
Subscriber has carefully considered the potential risks relating to the Company
and a purchase of the Securities, and fully understands that the Securities are
a speculative investment that involve a high degree of risk of loss of the
Subscriber’s entire investment. Among other things, the Subscriber has carefully
considered each of the risks described under the heading “Risk Factors” in the
Company’s SEC Filings (as defined in Section 4(c) below), which risk factors are
incorporated herein by reference.

       

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

       

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

       

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

       

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

       

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

       

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

       

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

      
        
           

        

        
          - 3
-

          
            

          

        

        
           

        

      

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

       

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

       

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

       

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

       

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

       

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

       

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

       

      (r)           The
Subscriber will indemnify and hold harmless the Company, Escrow Agent and, where
applicable, their respective directors, officers, partners, employees, agents,
advisors, affiliates and shareholders, and each other person, if any, who
controls any of the foregoing, from and against any and all loss, liability,
claim, damage and expense whatsoever (including, but not limited to, any and all
fees, costs and expenses whatsoever reasonably incurred in investigating,
preparing or defending against any claim, lawsuit, administrative proceeding or
investigation whether commenced or threatened) (a “Loss”) arising out of
or based upon any representation or warranty of the Subscriber contained herein
or in any document furnished by the Subscriber to the Company or the Escrow
Agent in connection herewith being untrue in any material respect or any breach
or failure by the Subscriber to comply with any covenant or agreement made by
the Subscriber herein or therein.

       

      (s)           The
Subscriber is an “Accredited Investor” as defined in Rule 501(a) under the
Securities Act as set forth in the Investor Questionnaire on page 10 of the
Agreement.  In general, an “Accredited Investor” is deemed to be an
institution with assets in excess of $5,000,000 or individuals with net worth in
excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly
with his or her spouse.

       

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

      
        
           

        

        
          - 4
-

          
            

          

        

        
           

        

      

      (u)           The
Subscriber has reviewed, or had an opportunity to review, all of the SEC
Filings.

       

      4.           THE
COMPANY’S REPRESENTATIONS, WARRANTIES AND COVENANTS

       

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

       

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

       

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

       

      (c)           The
Company is subject to, and in full compliance with, the reporting requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange
Act”). The Company has made available to each Subscriber through the
EDGAR system true and complete copies of the Company’s Annual Reports on Form
10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K
(collectively, the “SEC
Filings”).

       

      5.           INSIDER
TRADING PROHIBITION; INDEMNITY; ESCROW RELEASE

       

      (a)           Until
the date on which sales are permitted, without volume limitations, under Rule
144 of the Securities Act, the Subscriber hereby agrees to (i) refrain from (A)
engaging in any transactions with respect to the capital stock of the Company or
securities exercisable or convertible into or exchangeable for any shares of
capital stock of the Company, and (B) entering into any transaction that would
have the same effect, or entering into any swap, hedge or other arrangement that
transfers, in whole or in part, any of the economic consequences of ownership of
the capital stock of the Company and (ii) indemnify and hold harmless the
Company and its officers and directors, employees, agents, sub-agents, advisors
and affiliates and each other person, if any, who controls any of the foregoing,
against any Loss arising out of or based upon any violation of this Section 5 by
the Subscriber.

       

      (b)           
The Subscriber acknowledges that the Company may act on behalf of the
Subscribers, solely for the sake of convenience, in connection with confirmation
to the Escrow Agent that the Closing has occurred and thereby direct the Escrow
Agent to disburse the Subscriber’s subscription funds held in escrow to the
Company at such time.  In doing so, however, the Company makes no
representation or warranty to the Subscriber with respect to any due diligence
investigations concerning the Company, all of which shall be and remain the
Subscriber’s own responsibility.

       

      6.           CONDITIONS
TO ACCEPTANCE OF SUBSCRIPTION

       

      The
Company’s right to accept the subscription of the Subscriber, on the one hand,
and a Subscriber’s right to withdraw its funds, on the other hand, is
conditioned upon satisfaction of the following conditions precedent on or before
the date the Company accepts such subscription (any or all of which may be
waived by the other party):

       

      (a)           As
of the Closing, no legal action, suit or proceeding shall be pending which seeks
to restrain or prohibit the transactions contemplated by this Agreement;
provided that neither party hereto shall directly or indirectly initiate any
such action, suit or proceeding.

       

      (b)           The
representations and warranties of the Company and the Subscriber contained in
this Agreement shall have been true and correct on the date of this Agreement
and shall be true and correct as of the Closing as if made on the date of the
Closing.

       

      (c)           There
are no stop orders preventing or suspending any offering of securities by the
Company, or suspension of the qualification of the Common Stock for offering or
sale in any jurisdiction.

      
        
           

        

        
          - 5
-

          
            

          

        

        
           

        

      

      (d)           The
Company shall have raised gross proceeds of no less than $325,000 from a
contemporaneous offering of its securities.

       

      7.           MISCELLANEOUS
PROVISIONS

       

      (a)           Counsel.  All
parties hereto have been represented by counsel, and no inference shall be drawn
in favor of or against any party by virtue of the fact that such party’s counsel
was or was not the principal draftsman of this Agreement.  Each of the
parties has been provided the opportunity to be represented by counsel of its
choice and has been encouraged to seek separate representation to the extent
that it deems such desirable, but the absence of such shall not be asserted as a
basis for the enforceability or interpretation of any of the terms or provisions
of this Agreement.

       

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

       

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

       

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

       

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

       

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

       

      (g)           Assignability.  This
Agreement is not transferable or assignable by the parties hereto.

       

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

       

      (i)           Jurisdiction and
Venue.  The Company and the Subscriber hereby agree that any
dispute which may arise between them arising out of or in connection with this
Agreement shall be adjudicated before a court located in New York City, New
York, and they hereby submit to the exclusive jurisdiction of the federal and
state courts of the State of New York located in New York City with respect to
any action or legal proceeding commenced by any party, and irrevocably waive any
objection they now or hereafter may have respecting the venue of any such action
or proceeding brought in such a court or respecting the fact that such court is
an inconvenient forum, relating to or arising out of this Agreement or any acts
or omissions relating to the sale of the securities hereunder, and consent to
the service of process in any such action or legal proceeding by means of
registered or certified mail, return receipt requested, postage prepaid, in care
of the address set forth herein or such other address as either party shall
furnish in writing to the other.

      
        
           

        

        
          - 6
-

          
            

          

        

        
           

        

      

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

      
        
           

        

        
          - 7
-

          
            

          

        

        
           

        

      

      ALL SUBSCRIBERS MUST
COMPLETE THIS PAGE

       

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

      

      
        	
                ________________________

              	
                x     $.09
      for each Share

              	
                =
      $_____________________.

              
	
                (Shares
      subscribed for)

              	
                           (Purchase
      Price)

              	
                     (Aggregate
      Purchase Price)

              

      

      

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

       

      
        
          
            	
                    1.

                  	
                     ̈

                  	
                    Individual

                  	
                    7.

                  	
                     ̈

                  	
                    Trust/Estate/Pension
      or Profit sharing Plan

                    Date
      Opened:______________

                     

                  
	
                    2.

                  	
                     ̈

                  	
                    Joint
      Tenants with Right of Survivorship

                  	
                    8.

                  	
                     ̈

                  	
                    As
      a Custodian for

                    ________________________________

                    Under
      the Uniform Gift to Minors Act of the State of

                    ________________________________

                     

                  
	
                    3.

                  	
                     ̈

                  	
                    Community
      Property

                  	
                    9.

                  	
                     ̈

                  	
                    Married
      with Separate Property

                  
	 
      	 
      	 
      	 
      	 
      	 
      
	
                    4.

                  	
                     ̈

                  	
                    Tenants
      in Common

                  	
                    10.

                  	
                     ̈

                  	
                    Keogh

                  
	 
      	 
      	 
      	 
      	 
      	 
      
	
                    5.

                  	
                     ̈

                  	
                    Corporation/Partnership/
      Limited Liability Company

                  	
                    11.

                  	
                     ̈

                  	
                    Tenants
      by the Entirety

                  
	 	 	 	 	 	 
	
                    6.

                  	
                     ̈

                  	
                    IRA

                  	 
      	 
      	 
      

          

        

      

      

      ALTERNATIVE
DISTRIBUTION INFORMATION

       

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

       

      Name of
Firm (Bank, Brokerage, Custodian):

       

      Account
Name:

       

      Account
Number:

       

      Representative
Name:

       

      Representative
Phone Number:

       

      Address:

       

      City,
State, Zip:

      
        
           

        

        
          - 8
-

          
            

          

        

        
           

        

      

      IF
MORE THAN ONE SUBSCRIBER, EACH SUBSCRIBER MUST SIGN.

      INDIVIDUAL
SUBSCRIBERS MUST COMPLETE THIS PAGE 8.

      SUBSCRIBERS
WHICH ARE ENTITIES MUST COMPLETE PAGE 9.

       

      EXECUTION BY NATURAL
PERSONS

      

      
        
          

        

      

      Exact
Name in Which Title is to be Held

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	 
      	 
      	 
      
	
                                                      Name
      (Please Print)

                                                    	 
      	
                                                      Name
      of Additional Purchaser

                                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                      Residence:
      Number and Street

                                                    	 
      	
                                                      Address
      of Additional Purchaser

                                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                      City,
      State and Zip Code

                                                    	 
      	
                                                      City,
      State and Zip Code

                                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                      Social
      Security Number

                                                    	 
      	
                                                      Social
      Security Number

                                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                      Telephone
      Number

                                                    	 
      	
                                                      Telephone
      Number

                                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                      Fax
      Number (if available)

                                                    	 
      	
                                                      Fax
      Number (if available)

                                                    
	 
      	 
      	 
      
	 	 	 
	
                                                      E-Mail
      (if available)

                                                    	 
      	
                                                      E-Mail
      (if available)

                                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                                       (Signature)

                                                    	 
      	
                                                      (Signature
      of Additional
Purchaser)

                                                    

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      

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

      

      
        
          	 
      	
                  By:

                	 
      
	 
      	 
      	
                  Name:

                
	 
      	 
      	
                  Title:

                

        

      

       

      
        
           

        

        
          - 9
-

          
            

          

        

        
           

        

      

    

     

    EXECUTION BY SUBSCRIBER
WHICH IS AN ENTITY

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

    

    
      
        

      

    

    Name of
Entity (Please Print)

    Date of
Incorporation or Organization:

    

    State of
Principal Office:

    

    Federal
Taxpayer Identification Number:

    

    
      
        

      
Office Address

    

    
      
 City, State and Zip Code

    

    
      
 Telephone Number

    

    
      
 Fax Number (if available)

    

    
      
 E-Mail (if available)

    

    
      
        
          
            
              
                	 
      	
                        By:

                      	 
      
	 
      	 
      	
                        Name:

                      
	 
      	 
      	
                        Title:

                      
	
                        [seal]

                      	 
      
	 
      	 
      
	
                        Attest:

                      	 
      	 
      	 
      
	 
      	
                        (If
      Entity is a Corporation)

                      	 
      	 
      
	 
      	
                        Address

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

                      
	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	 
      	
                        Name:

                      
	 
      	 
      	
                        Title:

                      

              

            

          

        

      

    

     

    
      
         

      

      
        - 10
-

        
          

        

      

      
         

      

    

     

    INVESTOR
QUESTIONNAIRE

     

    Instructions:  Check
all boxes below which correctly describe you.

     

    
      	
              o

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

            

    

     

    
      	
              o

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

            

    

     

    
      	
              o

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

            

    

     

    
      	
              o

            	
              You
      are a director or executive officer of Clear Skies Solar,
    Inc.

            

    

     

    
      	
              o

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

            

    

     

    
      	
              o

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

            

    

     

    
      	
              o

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

            

    

     

    
      	
              o

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

            

    

    
      
         

      

      
        - 11
-

        
          

        

      

      
         

      

    

    Check
all boxes below which correctly describe you.

     

    With
respect to this investment in the Shares and its underlying securities,
your:

     

    
      
        	 
      	
                Investment
      Objectives: 

              	
                x Aggressive
      Growth

              	
                x Speculation

              	 
      
	 	 	 	 	 
	 
      	
                Risk
      Tolerance: 

              	
                o Low
      Risk 

              	
                o Moderate
      Risk 

              	
                x High
      Risk

              

      

    

     

    Are you
associated with a FINRA Member Firm?     o Yes   o No

     

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

    

     

    
      	
              ____  
      ____ 

            	
              I/We
      understand that this investment is not
  guaranteed.

            

    

     

    
      	
              ____  
      ____ 

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

            

    

     

    
      	
              ____  
      ____ 

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

            

    

     

    
      	
              ____  
      ____ 

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

            

    

     

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

     

    
      
        
          
            
              
                
                  	 
      	 
      	 
      
	
                          Name
      of Purchaser  [please print]

                        	 
      	
                          Name
      of Co-Purchaser  [please print]

                        
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                          Signature
      of Purchaser (Entities please

                        	 
      	
                          Signature
      of Co-Purchaser

                        
	
                          provide
      signature of Purchaser’s duly

                        	 
      	 
      
	
                          authorized
      signatory.)

                        	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                          Name
      of Signatory (Entities only)

                        	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                          Title
      of Signatory (Entities only)

                        	 
      	 
      

                

              

            

          

        

      

    

     

    
      
         

      

      
        - 12
-

        
          

        

      

      
         

      

    

    VERIFICATION
OF INVESTMENT ADVISOR/BROKER

     

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

     

    
      	
               
      

            	
              (a)

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

            

    

     

    
      	
               
      

            	
              (b)

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

            

    

     

    
      	
               
      

            	
              (c)

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

            

    

     

    
      Deposit
securities from this offering directly to purchaser’s
account?       o Yes   
 o No

    

     

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

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	 
      	 
      
	
                                      Broker/Dealer

                                    	 
      	
                                      Account
      Executive

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                      (Name
      of Broker/Dealer)

                                    	 
      	
                                      (Signature)

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                      (Street
      Address of Broker/Dealer Office)

                                    	 
      	
                                      (Print
      Name)

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                      (City
      of Broker/Dealer
    Office)  (State)  (Zip)

                                    	 
      	
                                      (Representative
      I.D. Number)

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                      (Telephone
      Number of Broker/Dealer Office)

                                    	 
      	
                                      (Date)

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                                      (Fax
      Number of Broker/Dealer Office)

                                    	 
      	
                                      (E-mail
      Address of Account
Executive)

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        - 13
-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}]]