Document:

<PAGE>   1

                                                                     EXHIBIT 4.1

                          FORM OF UNDERWRITER'S WARRANT

<PAGE>   2

These securities may not be publicly offered or sold unless at the time of such
offer or sale, the person making such offer or sale delivers a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933 forming a
part of a registration statement, or post-effective amendment thereto, which is
effective under said Act, or unless in the opinion of counsel to the Company,
such offer and sale is exempt from the provisions of Section 5 of said Act.

                                     WARRANT
          For the Purchase of Common Stock, Par Value $0.0001 per Share

                                       of
                               HARP & EAGLE, LTD.
             (Incorporated Under the Laws of the State of Wisconsin)

           Void after 5:00 P.M., Milwaukee time, on            ,

No.                                                          Warrant to Purchase
                                                                          Shares

         THIS IS TO CERTIFY, that, for value received, J.E. Liss & Company, Inc.
("Underwriter"), or registered assigns, is entitled, subject to the terms and
conditions hereinafter set forth, on or after                ,     and at any
time prior to 5:00 P.M., Milwaukee Time, on          ,    , but not thereafter,
to purchase  the number of shares set forth above ("Shares") of common stock
("Common Stock"), of Harp & Eagle, Ltd., a Wisconsin corporation ("Company"),
from the Company upon payment to the Company of $      per share ("Purchase
Price") if and to the extent this Warrant is exercised, in whole or in part,
during the period this Warrant remains in force, subject in all cases to
adjustment as provided in Article II hereof, and to receive a certificate or
certificates representing the Shares so purchased, upon presentation and
surrender to the Company of this Warrant, with the form of subscription attached
hereto duly executed, and accompanied by payment of the Purchase Price of each
Share purchased. This Warrant is one of a class of warrants ("Warrants")
initially exercisable for the purchase an aggregate of 100,000 shares of Common
Stock of the Company.

                                    ARTICLE I
                              TERMS OF THE WARRANT

         Section 1.01. Subject to the provisions of Sections 1.05 and 3.01
hereof, this Warrant may be exercised at any time and from time to time after
9:00 A.M., Milwaukee time, on                    ,      ("Exercise Commencement
Date"), but no later than 5:00 P.M., Milwaukee time, on                  ,
("Expiration Time"). If this Warrant is not exercised on or before the
Expiration Time it shall become void, and all rights hereunder shall thereupon
cease.

         Section 1.02. (1) The holder of this Warrant ("Holder") may exercise
this Warrant, in whole or in part, upon surrender of this Warrant with the form
of subscription attached hereto duly executed, to the Company at its office in
Milwaukee, Wisconsin, together with the full Purchase Price for each Share to be
purchased pursuant hereto in lawful money of the United States, or by certified
check, bank draft or postal or express money order payable in United States
dollars to the order of the Company, and upon compliance with and subject to the
conditions set forth herein.

         (2) Upon receipt of this Warrant with the form of subscription duly
executed and accompanied by payment of the aggregate Purchase Price for the
Shares for which this Warrant is then being exercised, the Company shall cause
to be issued certificates for the total number of whole Shares for which this
Warrant is being exercised in such denominations as are required for delivery to
the Holder, and the Company shall thereupon deliver such certificates to the
Holder or its permitted nominee.

         (3) In case the Holder shall exercise this Warrant with respect to less
than all of the Shares that may be purchased under this Warrant, the Company
shall execute a new Warrant for the balance of the Shares that may be purchased
upon exercise of this Warrant and deliver such new Warrant to the Holder.

<PAGE>   3

         (4) The Company covenants and agrees that it will pay when due and
payable any and all taxes which may be payable in respect of the issue of this
Warrant, or the issue of any Shares upon the exercise of this Warrant. The
Company shall not, however, be required to pay any tax which may be payable in
respect of any transfer involved in the issuance or delivery of this Warrant or
of the Shares in a name other than that of the Holder at the time of surrender,
and until the payment of such tax the Company shall not be required to issue
such Shares.

         Section 1.03. This Warrant may be split-up, combined or exchanged for
another Warrant or Warrants of like tenor to purchase a like aggregate number of
Shares. If the Holder desires to split-up, combine or exchange this Warrant, the
Holder shall make such request in writing delivered to the Company at its
corporate office and shall surrender this Warrant and any other Warrants to be
so split-up, combined or exchanged at said office. Upon any such surrender for a
split-up, combination or exchange, the Company shall execute and deliver to the
person entitled thereto a Warrant or Warrants, as the case may be, as so
requested. The Company shall not be required to effect any split-up, combination
or exchange which will result in the issuance of a Warrant entitling the Holder
to purchase upon exercise a fraction of a Share. The Company may require the
Holder to pay a sum sufficient to cover any tax or governmental charge that may
be imposed in connection with any split-up, combination or ex-change of
Warrants.

         Section 1.04. Prior to due presentment for registration of transfer of
this Warrant, the Company may deem and treat the Holder as the absolute owner of
this Warrant (notwithstanding any notation of ownership or other writing hereon)
for the purpose of any exercise hereof and for all other purposes, and the
Company shall not be affected by any notice to the contrary.

         Section 1.05. For one (1) year following the date hereof, this Warrant
may not be sold, hypothecated, exercised, assigned or transferred, except to
individuals who are officers of the Underwriter or any successor to its business
or pursuant to the laws of descent and distribution, and thereafter and until
its expiration shall be assignable and transferable in accordance with the
Securities Act of 1933 and applicable state securities laws.

         Section 1.06. Any assignment permitted hereunder shall be made by
surrender of this Warrant to the Company at its principal office with the form
of assignment attached hereto duly executed and funds sufficient to pay any
transfer tax. In such event, the Company shall, without charge, execute and
deliver a new Warrant in the name of the assignee named in such instrument of
assignment and this Warrant shall promptly be cancelled. This Warrant may be
divided or combined with other Warrants which carry the same rights upon
presentation thereof at the corporate office of the Company together with a
written notice signed by the Holder, specifying the names and denominations in
which such new Warrants are to be issued.

         Section 1.07. Nothing contained in this Warrant shall be construed as
conferring upon the Holder the right to vote or to consent or to receive notice
as a stockholder in respect of any meetings of stockholders for the election of
directors or any other matter, or as having any rights whatsoever as a
stockholder of the Company. If, however, at any time prior to the expiration of
this Warrant and prior to its exercise, any of the following shall occur:

         (a) the Company shall take a record of the holders of its shares of
Common Stock for the purpose of entitling them to receive a dividend or
distribution payable otherwise than in cash, or a cash dividend or distribution
payable otherwise than out of current or retained earnings, as indicated by the
accounting treatment of such dividend or distribution on the books of the
Company; or

         (b) the Company shall offer to the holders of its Common Stock any
additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option, right
or warrant to subscribe therefor; or

         (c) there shall be proposed any capital reorganization or
reclassification of the Common Stock, or a sale of all or substantially all of
the assets of the Company, or a consolidation or merger of the Company with
another entity; or

         (d) there shall be proposed a voluntary or involuntary dissolution,
liquidation or winding up of the Company;

                                        2

<PAGE>   4

then, in any one or more of said cases, the Company shall cause to be mailed to
the Holder, at the earliest practicable time (and, in any event, not less than
thirty (30) days before any record date or other date set for definitive
action), written notice of the date on which the books of the Company shall
close or a record shall be taken to determine the stockholders entitled to such
dividend, distribution, convertible or exchangeable securities or subscription
rights, or entitled to vote on such reorganization, reclassification, sale,
consolidation, merger, dissolution, liquidation or winding up, as the case may
be. Such notice shall also set forth such facts as shall indicate the effect of
such action (to the extent such effect may be known at the date of such notice)
on the Purchase Price and the kind and amount of the Common Stock and other
securities and property deliverable upon exercise of this Warrant. Such notice
shall also specify the date as of which the holders of the Common Stock of
record shall participate in said distribution or subscription rights or shall be
entitled to exchange their Common Stock for securities or other property
deliverable upon such reorganization, reclassification, sale, consolidation,
merger, dissolution, liquidation or winding up, as the case may be (on which
date, in the event of voluntary or involuntary dissolution, liquidation or
winding up of the Company, the right to exercise this Warrant shall terminate).
Without limiting the obligation of the Company to provide notice to the holder
of actions hereunder, it is agreed that failure of the Company to give notice
shall not invalidate such action of the Company.

         Section 1.08. If this Warrant is lost, stolen, mutilated or destroyed,
the Company shall, on such reasonable terms as to indemnity or otherwise as it
may impose (which shall, in the case of a mutilated Warrant, include the
surrender thereof), issue a new Warrant of like denomination and tenor as, and
in substitution for, this Warrant, which shall thereupon become void. Any such
new Warrant shall constitute an additional contractual obligation of the
Company.

         Section 1.09. (1) The Company covenants and agrees that at all times it
shall reserve and keep available for the exercise hereof sufficient authorized
Shares to permit the exercise in full of this Warrant.

         (2) Prior to the issuance of any Shares upon exercise of this Warrant,
the Company shall secure the listing of such Shares upon any securities exchange
or automated quotation system upon which the shares of the Company's Common
Stock are listed for trading.

         (3) The Company covenants that all Shares when issued upon the exercise
of this Warrant will be validly issued, fully paid, non-assessable and free of
preemptive rights.

                                   ARTICLE II
                        ADJUSTMENT OF PURCHASE PRICE AND
                   NUMBER OF SHARES PURCHASABLE UPON EXERCISE

         Section 2.01. In case the Company shall, while this Warrant remains
unexercised, in whole or in part, and in force, effect a recapitalization of
such character that the Shares purchasable hereunder shall be changed into or
become exchangeable for a larger or smaller number of shares, then, after the
date of record for effecting such recapitalization, the number of Shares of
Common Stock which the Holder hereof shall be entitled to purchase here-under
shall be increased or decreased, as the case may be, in direct proportion to the
increase or decrease in the number of shares of Common Stock by reason such
recapitalization, and of the Purchase Price, per share, whether or not in effect
immediately prior to the time of such recapitalization, of such recapitalized
Common Stock shall in the case of an increase in the number of such Shares be
proportionately reduced, and in the case of a decrease in the number of such
Shares shall be proportionately increased. For the purposes of this Section
2.01, a stock dividend, stock split-up or reverse split shall be considered as a
recapitalization and as an exchange for a larger or smaller number of shares, as
the case may be.

         Section 2.02. In case of any consolidation of the Company with, or
merger of the Company into, any other corporation, or in case of any sale or
conveyance of all or substantially all of the assets of the Company other than
in connection with a plan of complete liquidation of the Company, then, as a
condition of such consolidation, merger or sale or conveyance, adequate
provision shall be made whereby the Holder shall thereafter have the right to
purchase and receive, upon the basis and upon the terms and conditions specified
in this Warrant and in lieu of Shares of Common Stock immediately theretofore
purchasable and receivable upon the exercise of the rights represented hereby,
such shares of stock or securities as may be issued in connection with such
consolidation, merger

                                        3

<PAGE>   5

or sale or conveyance, with respect to or in exchange for the number of
outstanding shares of Common Stock equal to the number of shares of Common Stock
immediately theretofore purchasable and receivable upon the exercise of the
rights represented hereby had such consolidation, merger or sale or conveyance,
not taken place, and in any such case appropriate provision shall be made with
respect to the rights and interests of the Holder of this Warrant to the end
that the provisions hereof shall be applicable as nearly as may be in relation
to any shares of stock or securities thereafter deliverable upon the exercise
hereof.

         Section 2.03. Subject to the provisions of Section 2.04, below, in case
the Company shall, while this Warrant remains unexercised, in whole or in part,
and in force, declare to make any distribution of its assets to holders of
Common Stock as a partial liquidating dividend, by way of return of capital or
otherwise, then, after the date of record for determining stockholders entitled
to such distribution, but prior to the date of distribution, the Holder shall be
entitled upon exercise of this Warrant and purchase of any or all of the Shares
of Common Stock subject hereto, to receive the amount of such assets (or, at the
option of the Company, a sum equal to the value thereof at the time of such
distribution to holders of Common Stock as such value is determined by the Board
of Directors of the Company in good faith) which would have been payable to the
Holder had he been the holder of such Shares of Common Stock on the record date
for the determination of stockholders entitled to such distribution.

         Section 2.04. Except as otherwise provided in Section 2.02, above, in
the case of any sale or conveyance of all or substantially all of the assets of
the Company in connection with a plan of complete liquidation of the Company, in
the case of the dissolution, liquidation or winding-up of the Company, all
rights under this Warrant shall terminate on a date fixed by the Company, such
date so fixed to be not earlier than the date of the commencement of the
proceedings for such dissolution, liquidation or winding-up and not later than
thirty (30) days after such commencement date. Notice of such termination of
purchase rights shall be given to the Holder at least thirty (30) days prior to
such termination date.

         Section 2.05. Any adjustment pursuant to the provisions of this Article
II shall be made on the basis of the number of Shares of Common Stock which the
Holder would have been entitled to acquire by exercise of this Warrant
immediately prior to the event giving rise to such adjustment and, as to the
Purchase Price per share in effect immediately prior to such adjustment.
Whenever any such adjustment is required to be made, the Company shall forthwith
determine the new number of Shares of Common Stock which the Holder hereof shall
be entitled to purchase hereunder and/or such new Purchase Price per share and
shall prepare, retain on file and transmit to the Holder within ten (10) days
after such preparation a statement describing in reasonable detail the method
used in calculating such adjustment.

         Section 2.06. Anything contained herein to the contrary
notwithstanding, the Company shall not be required to issue any fraction of a
Share in connection with the exercise of this Warrant, and in any case where the
Holder would, except for the provisions of this Section 2.06, be entitled under
the terms of this Warrant to receive a fraction of a Share upon such exercise,
the Company shall upon the exercise and receipt of the Purchase Price, issue the
largest number of whole Shares purchasable upon exercise of this Warrant. The
Company shall not be required to make any cash or other adjustment in respect of
such fraction of a Share to which the Holder would otherwise be entitled. The
Holder, by the acceptance of this Warrant, expressly waives the Holder's right
to receive a certificate for any fraction of a Share upon exercise hereof.

         Section 2.07. The form of Warrant need not be changed or modified
because of any change pursuant to this Article II in the Purchase Price or in
the number of Shares purchasable upon the exercise of a Warrant, and Common
Stock Purchase Warrants issued after such change may state the same Purchase
Price and the same number of shares of Common Stock as are stated in the
Warrants as initially issued.

                                   ARTICLE III
                  REGISTRATION UNDER THE SECURITIES ACT OF 1933

         Section 3.01. This Warrant and the Shares of Common Stock issuable upon
exercise of this Warrant have been registered under the Securities Act of 1933,
as amended ("Act"), on Form SB-2, SEC File No. 333-48527 ("Registration
Statement"). Upon exercise, in part or in whole, of this Warrant, the Shares
shall bear the following legend:

                                        4

<PAGE>   6

              The shares represented by this certificate have been registered
              under the Securities Act of 1933, as amended, solely for sale to
              the holder of a warrant to purchase, which holder may be deemed to
              be an underwriter of such shares within the provisions and for
              purposes only of the Securities Act of 1933, as amended. The
              issuer of these shares will agree to a transfer hereof only if (1)
              an amended or supplemented prospectus setting forth the terms of
              the offer has been filed as part of a post-effective amendment to
              the Registration Statement under which these shares are registered
              or as part of a new registration statement, if then required, and
              such post-effective amendment or new registration statement has
              become effective under the Securities Act of 1933, as amended, or
              (2) counsel to the issuer is satisfied that no such post-effective
              amendment or new registration statement is required.

         The Company agrees that it shall be satisfied that no post-effective
amendment or new registration is required for the public sale of the Shares if
it shall be presented with a letter from the staff of the Securities and
Exchange Commission ("Commission") stating in effect that, based upon stated
facts which the Company shall have no reason to believe are not true in any
material respect, the staff will not recommend any action to the Commission if
such Shares are offered and sold without delivery of a prospectus, and that,
therefore, no post-effective amendment to the Registration Statement under which
such shares are registered or new registration statement is required to be
filed.

         Section 3.02. If, at any time during the period commencing one (1) year
from the date hereof and expiring five (5) years after the date hereof, the
Company proposes to register any of its securities under the Act, it will give
written notice, at least thirty (30) days prior to the filing of each such
registration statement, to the Holder and to all other holders of the Warrants
and/or the Shares of its intention to do so. If the Holder or other holders of
the Warrants and/or Shares notify the Company within twenty (20) days after
receipt of any such notice of its or their desire to include their Warrants or
Shares in such proposed registration statement, the Company shall afford the
Holder and/or such holders of the Warrants and/or Shares the opportunity to have
their Warrants or Shares registered under such registration statement.

         Notwithstanding the provisions of this Section 3.02, the Company shall
have the right at any time after it shall have given written notice pursuant to
this Section 3.02 (irrespective of whether a written request for inclusion of
Warrants or Shares shall have been made) to elect not to file any such proposed
registration statement, or to withdraw the same after the filing but prior to
the effective date thereof.

         Section 3.03. (a) At any time during the period commencing one (1) year
from the date of this Warrant, and expiring five (5) years from the date hereof,
a majority of the Warrants and/or the Shares shall have the right (which right
is in addition to the registration rights under Section 3.02 hereof), as long as
current audited financial statements of the Company are available, to request,
one (1) time only, that the Company, upon written notice to it, prepare and file
with the Commission a post-effective amendment to the Registration Statement or
a new registration statement, if then required, and such other documents,
including an amended or supplemented prospectus, as may be necessary in the
opinion of both counsel for the Company and counsel for the Holder, in order to
comply with the provisions of the Act, so as to permit a public offering and
sale for nine (9) consecutive months of the Warrants and/or the Shares by such
Holders and any other holders notifying the Company within five (5) days after
receiving notice from the Company of such request.

         (b) In addition to the registration rights under Section 3.02 and
subsection (a) of this Section 3.03 and as long as current audited financial
statements of the Company are available, any holder(s) of the Warrants and/or
the Shares shall have the right, as long as current audited financial statements
are available, to request that the Company during the period commencing one (1)
year from the date hereof and ending five (5) years from the date hereof,
prepare and file with the Commission a post-effective amendment to the
Registration Statement or a new registration statement, if then required, so as
to permit a public offering and sale for nine (9) consecutive months of its or
his Shares; provided, however, that the provisions of Section 3.04(b) hereof
shall not apply to such registration request and registration and all costs
incident thereto shall be at the expense of the Holder and other holders making
such request.

                                        5

<PAGE>   7

         (c) The Company covenants and agrees to give written notice of any
registration request under this Section 3.03 by any holder or holders to all
other registered holders of the Warrants and Shares within ten (10) days from
the date of the receipt of any such registration request.

         Section 3.04. In connection with any registration under Section 3.02 or
3.03 hereof, the Company covenants and agrees as follows:

         (a) The Company shall use its best efforts to have any post-effective
amendment or new registration statement declared effective at the earliest
possible time, and shall furnish such number of prospectuses as shall reasonably
be requested.

         (b) The Company shall pay all costs, fees and expenses in connection
with all post-effective amendments or new registration statements under Section
3.02 and Section 3.03(a) hereof including, without limitation, the Company's
legal and accounting fees, printing expenses, blue sky fees and expenses, except
that the Company shall not pay for any of the following costs, fees or expenses:
(i) underwriting discounts and commissions allocable to the Shares, (ii) state
transfer taxes, (iii) brokerage commissions and (iv) fees and expenses of
counsel and accountants for the holders of the Warrants and/or Shares. The
Company shall not be required to bear the incremental cost of any registration
arising from the exercise of the demand registration rights provided in Section
3.03(a) hereof which together with (i) the underwriting discounts, managing
underwriter's fee and expense reimbursement paid or incurred in connection with
the offering of securities pursuant to the Registration Statement and (ii) an
amount equal to 20% of the initial public offering price of the securities
offered pursuant to the Registration Statement multiplied by the Warrants
covered hereby, exceed 15% of the aggregate proceeds to be now and hereinafter
derived from the sale of the securities registered pursuant to the Registration
Statement.

         (c) The Company will take all necessary action which may be required in
qualifying or registering the Warrants and/or the Shares included in a
post-effective amendment or new registration statement for offering and sale
under the securities or blue sky laws of such states as are requested by the
holders of such Warrants and/or Shares, provided that the Company shall not be
obligated to execute or file any general consent to service or process or to
qualify as a foreign corporation to do business under the laws of any such
jurisdiction.

         (d) The Holder shall be entitled to pay the Purchase Price for the
Shares purchasable upon the exercise of this Warrant out of the proceeds of any
concurrent sale of the Shares purchasable upon its exercise.

         Section 3.05. (a) The Company shall indemnify and hold harmless each
person registering securities pursuant to this Article III ("Seller") and each
underwriter, within the meaning of the Act, who may purchase from or sell for
any Seller any of the Warrants or Shares from and against any and all losses,
claims, damages and liabilities caused by any untrue statement or alleged untrue
statement of a material fact contained in any post- effective amendment or new
registration statement or any supplemented prospectus under the Act included
therein required to be filed or furnished by reason of Section 3.04, above, or
caused by any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, except insofar as such losses, claims, damages or liabilities are
caused by any such untrue statement or alleged untrue statement or omission or
alleged omission based upon information furnished or required to be furnished in
writing to the Company by such Seller or underwriter expressly for use therein,
which indemnification shall include each person, if any, who controls any such
Seller or underwriter within the meaning of such Act; provided, however, that
the indemnity agreement by the Company set forth in this Section 3.05 with
respect to any prospectus which shall be subsequently amended prior to the
written confirmation of the sale of any Warrants or Shares shall not inure to
the benefit of any Seller or underwriter from whom the person asserting any such
losses, claims, damages or liabilities purchased such Warrants or Shares which
are the subject thereof (or to the benefit of any person controlling such Seller
or underwriter), if such Seller or underwriter failed to send or give a copy of
the prospectus as amended to such person at or prior to the written confirmation
of the sale of such Warrants or Shares to such person and if such amended
prospectus did not contain any untrue statement or alleged untrue statement or
omission or alleged omission giving rise to such cause, claim, damage or
liability.

         (b) Each Seller which avails itself of the procedures under Article III
shall indemnify and secure the agreement of any underwriter which the Seller
employs to indemnify the Company, its directors, each officer signing the
related post-effective amendment or registration statement and each person, if
any, who controls the

                                        6

<PAGE>   8

Company within the meaning of the Act from and against any and all losses,
claims, damages and liabilities caused by any untrue statement or alleged untrue
statement of a material fact contained in any post-effective amendment or
registration statement or any prospectus required to be filed or furnished by
reason of Section 3.04 or caused by any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, insofar as such losses, claims, damages or
liabilities are caused by any untrue statement or alleged untrue statement or
omission or alleged omission based upon information furnished in writing to the
Company by any such Seller or underwriter expressly for use therein.

         Section 3.06. The agreements in this Article III shall continue in
effect regardless of the exercise and surrender of this Warrant.

                                   ARTICLE IV
                                  OTHER MATTERS

         Section 4.01. The Company will from time to time promptly pay, subject
to the provisions of subparagraph (4) of Section 1.02 hereof, all taxes and
charges that may be imposed upon the Company in respect of the issuance or
delivery of this Warrant or the Shares purchasable upon the exercise of this
Warrant.

         Section 4.02. All the covenants and provisions of this Warrant by or
for the benefit of the Company shall bind and inure to the benefit of its
successors and assigns hereunder. The covenants and provisions of this Warrant
shall be waived or amended only by the written agreement of the Company and the
Holder.

         Section 4.03. The validity, interpretation and performance of this
Warrant shall be governed by the laws of the State of Wisconsin.

         Section 4.04. Notices or demands pursuant to this Warrant to be given
or made by the Holder to or on the Company shall be sufficiently given or made
if sent by certified or registered mail, return receipt requested, postage
prepaid, and addressed, until another address is designated in writing by the
Company, as follows:

                                        Harp & Eagle, Ltd.
                                        1234 North Astor Street
                                        Milwaukee, Wisconsin  53202

         Notices to the Holder provided for in this Warrant shall be deemed
given or made by the Company if sent by certified or registered mail, return
receipt requested, postage prepaid, and addressed to the Holder at his last
known address as it shall appear on the books of the Company.

         Section 4.05. Nothing in this Warrant expressed and nothing that may be
implied from any of the provisions hereof is intended, or shall be construed, to
confer upon, or give to, any person or corporation other than the Company and
the Holder any right, remedy or claim under promise or agreement hereof, and all
covenants, conditions, stipulations, promises and agreements contained in this
Warrant shall be for the sole and exclusive benefit of the Company and its
successors and of the Holder, its successors and, if permitted, its assignees.

         Section 4.06. The Article headings herein are for convenience only and
are not part of this Warrant and shall not affect the interpretation thereof.

         IN WITNESS WHEREOF, this Warrant has been duly executed by the Company
as of the          day of            , 200    .

                                                     HARP & EAGLE, LTD.

Attest:

                                          By:
------------------------------------         -----------------------------------
                           Secretary                                   President

                                        7

<PAGE>   9

                               HARP & EAGLE, LTD.

                                   ASSIGNMENT

          (To be executed by the registered holder to effect a transfer
                           of the foregoing Warrant)

         FOR VALUE RECEIVED,                                              hereby
sells, assigns and transfers unto                                     the within
Warrant and all of the rights represented thereby, and does hereby irrevocably
constitute and appoint                                               , Attorney,
to transfer said Warrant on the books of the Company, with full power of
substitution.

Dated:

                                        ------------------------------------
                                                (Signature of Holder)

Signature guaranteed:

------------------------------------

                                        8

<PAGE>   10

                               HARP & EAGLE, LTD.

                                SUBSCRIPTION FORM

              (To be executed by the registered holder to exercise
     the right to purchase Common Stock evidenced by the foregoing Warrant)

Harp & Eagle, Ltd.
1234 North Astor Street
Milwaukee, Wisconsin  53202

         The undersigned hereby irrevocably subscribes for the purchase of
shares of your Common Stock pursuant to and in accordance with the terms and
conditions of this Warrant, and herewith makes payment, covering such shares of
Common Stock which should be delivered to the undersigned at the address stated
below, and, if said number of shares shall not be all of the shares purchasable
hereunder, that a new Warrant of like tenor for the balance of the remaining
shares purchasable hereunder be delivered to the undersigned at the address
stated below.

         The undersigned agrees that: (1) the undersigned will not offer, sell,
transfer or otherwise dispose of any such shares of Common Stock unless either
(a) a registration statement, or post-effective amendment thereto, covering such
shares of Common Stock has been filed by Heartland Wisconsin Corp. ("Company")
with the Securities and Exchange Commission pursuant to the Securities Act of
1933, as amended ("Act"), and such sale, transfer or other disposition is
accompanied by a prospectus meeting the requirements of Section 10 of the Act
forming a part of such registration statement, or post-effective amendment
thereto, which is in effect under the Act covering the shares of Common Stock to
be so sold, transferred or otherwise disposed of, and such offer, sale transfer
or other disposition is registered or qualified under applicable state
securities laws, or (b) counsel to the Company satisfactory to the undersigned
has rendered an opinion in writing and addressed to the Company that such
proposed offer, sale, transfer or other disposition of the shares of Common
Stock is exempt from the provisions of Section 5 of the Act and applicable state
securities laws in view of the circumstances of such proposed offer, sale,
transfer or other disposition; (2) the Company may notify the transfer agent for
its Common Stock that the certificates for the Common Stock acquired by the
undersigned are not to be transferred unless the transfer agent receives advice
from the Company that one or both of the conditions referred to in (1)(a) and
(1)(b), above, have been satisfied; and (3) the Company may affix the legend set
forth in Section 3.01 of this Warrant to the certificates for shares of Common
Stock hereby subscribed for, if such legend is applicable.

Dated:

                                    --------------------------------------
                                             (Signature of Holder)

                                    --------------------------------------

                                    --------------------------------------
                                              (Address of Holder)

Signature guaranteed:

------------------------------------------

                                        9<PAGE>   1
                                                                    EXHIBIT 10.1

                                ESCROW AGREEMENT

<PAGE>   2

                                ESCROW AGREEMENT

         ESCROW AGREEMENT, made and entered into as of the     day of          ,
2001, by and among Grafton State Bank, a Wisconsin banking corporation ("Escrow
Agent"), Harp & Eagle, Ltd, a Wisconsin corporation ("Company"), and J.E. Liss &
Company, Inc., a Wisconsin corporation registered as a broker-dealer under the
Securities Exchange Act of 1934, as amended ("Managing Placement Agent").

                                   WITNESSETH:

         WHEREAS, the Company proposes to offer, offer for sale and sell to the
public up to 1,000,000 shares of its common stock, par value $0.0001 per share
("Common Stock"), at an initial offering price of $ per share ("Offering");

         WHEREAS, a registration statement on Form SB-2 with respect to the
Common Stock, including a form of prospectus, has been filed by the Company with
the Securities and Exchange Commission ("Commission") under the Securities Act
of 1933, as amended ("Securities Act"). One or more amendments to or changes in
such registration statement have been or may be so filed, and a final form of
prospectus will be filed with the Commission upon the effectiveness of such
registration statement. Such registration statement (including all exhibits
thereto), as amended at the time it becomes effective and at the time each
post-effective amendment thereto becomes effective, and the final prospectus
filed upon the effectiveness of such registration statement or post-effective
amendment (including any supplements to such final prospectus filed following
such effectiveness) are referred to herein, respectively, as the "Registration
Statement" and the "Prospectus";

         WHEREAS, the Managing Placement Agent and such other member firms of
the National Association of Securities Dealers, Inc. ("NASD") as may be
designated by the Managing Placement Agent, in its discretion, to participate in
the distribution of the Common Stock (the Managing Placement Agent and such
additional broker- dealers, if any, being hereinafter collectively referred to
as the "Selected Placement Agents") are entitled to receive selling commissions
and expense allowances in connection with the distribution of the Common Stock,
as set forth in a certain selling agreement between the Managing Placement Agent
and the Company, dated July 24, 2000 ("Managing Placement Agent Agreement");

         WHEREAS, the Managing Placement Agent Agreement, the Registration
Statement and the Prospectus provide that amounts tendered by investors in
payment of the subscription price for Common Stock, including checks, cash and
cash equivalents ("Subscription Proceeds"), shall be deposited and held in
escrow in a segregated account until such Subscription Proceeds are disbursed by
the Escrow Agent pursuant to this Agreement; and

         WHEREAS, unless subscriptions for not less than 60,000 shares of Common
Stock are accepted by the Company and fully paid for on or before the
Termination Date, the Offering will terminate, and no Common Stock will be sold.
"Termination Date" means the date which is 120 days after the date upon which
the Registration Statement first becomes effective under the Securities Act
(which effective date shall also be the date of the Prospectus).

         NOW, THEREFORE, in consideration of the mutual covenants set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:

         1. Escrow. From the date hereof through and including (i) the date of
the final disbursement of funds pursuant to this Agreement or (ii) termination
of the Offering pursuant to Section 12 of the Managing Placement Agent
Agreement, whichever later occurs, the Escrow Agent shall act as escrow agent
and shall receive and disburse all Subscription Proceeds and earnings, if any,
thereon in accordance with the terms of this Agreement. The Escrow Agent hereby
represents to the Company and to each Selected Placement Agent that it is a
"bank" as such term is defined by Section 3(a)(6) of the Securities Exchange Act
of 1934, as amended ("Exchange Act").

<PAGE>   3

         2.   Deposit Procedure.

         (a) The Escrow Agent shall establish an appropriate segregated account
("Escrow Account") designated as the "Harp & Eagle, Ltd. Escrow Account," or
with such other appropriate designation as shall be assigned by the Escrow Agent
and communicated to the Company and the Managing Placement Agent. The Escrow
Agent shall cause all Subscription Proceeds transmitted to it by the Selected
Placement Agents to be held in the Escrow Account. All checks received by the
Escrow Agent are to be held uncashed until required to be submitted for
collection pursuant to paragraph 2(b) of this Agreement.

         (b) All Subscription Proceeds received by the Selected Placement Agents
shall be delivered to the Escrow Agent, at 101 Falls Road, Grafton, Wisconsin
53024, by 12:00, noon, on the business day following receipt thereof by a
Selected Placement Agent, together with a schedule of such payments and the
subscriptions represented thereby. Provided that the Escrow Agent shall have
received with respect to each subscription for Common Stock (i) Facsimile Notice
(as defined herein) from the Company that a subscription has been received by
the Company and (ii) Subscription Proceeds in the amount required to pay in full
for such subscription, delivered by a Selected Placement Agent as aforesaid, the
Escrow Agent shall immediately commence the collection process (as applicable)
with respect to such Subscription Proceeds. Any payment item which is returned
to the Escrow Agent on its initial presentation for payment need not again be
presented for collection. The Facsimile Notice provided for in this paragraph
shall be given by the Company not more than five (5) days following receipt by
the Escrow Agent of such Subscription Proceeds and not less than two (2)
business days prior to any disbursement of Subscription Proceeds by the Escrow
Agent pursuant to this Agreement.

         (c) If a subscription is not accepted by the Company, the Company
shall, within five (5) days following its receipt from a Selected Placement
Agent of such subscription, provide the Escrow Agent with Facsimile Notice (as
defined herein) of the name of the rejected subscriber, the address of the
rejected subscriber, and the amount of Subscription Proceeds received from such
rejected subscriber and delivered to the Escrow Agent by a Selected Placement
Agent, as reported to the Company pursuant to the Managing Placement Agent
Agreement.

         (d) If the Escrow Agent is holding collected funds with respect to a
rejected subscription, the Escrow Agent shall promptly remit the full amount of
Subscription Proceeds received by a Selected Placement Agent and delivered to
the Escrow Agent, without interest thereon or deduction therefrom, to the
rejected subscriber at the address provided by the Company. If the Escrow Agent
has presented the Subscription Proceeds of a rejected subscriber for collection
but has not yet collected funds, the Escrow Agent shall, promptly upon
collection of such funds, remit the full amount of Subscription Proceeds
received by a Selected Placement Agent and delivered to the Escrow Agent,
without interest thereon or deduction therefrom, to the rejected subscriber at
the address provided by the Company. If the Escrow Agent has not yet presented
the Subscription Proceeds of a rejected subscriber for collection, the Escrow
Agent shall promptly return in full the Subscription Proceeds received by a
Selected Placement Agent and delivered to the Escrow Agent in the form so
received and delivered, without interest thereon or deduction therefrom, to the
rejected subscriber at the address provided by the Company.

         3.   Investment of Escrow Funds. The Escrow Agent shall invest all
funds held in the Escrow Account (including earnings, if any, thereon) in United
States government securities or securities guaranteed by the United States,
certificates of deposit of banks located in the United States or any other
investment, provided, in each case, that such investment is permitted by Rule
15c2-4, promulgated by the Securities and Exchange Commission under the Exchange
Act ("Rule 15c2-4"), and NASD Notice to Members 84-7. Such investments shall be
made in a manner consistent with the requirement that the Subscription Proceeds
be available for delivery by the Escrow Agent at the times described herein. The
parties hereto recognize that there may be a forfeiture of interest in the event
of early withdrawal from an interest-bearing account of investment.

         4.   Initial Closing.

         (a) If the Escrow Agent shall (i) be holding in escrow collected funds
representing Subscription Proceeds in an amount equal to the full purchase price
of 60,000 shares of Common Stock and (ii) have received from the Company and the
Managing Placement Agent, on or before the Termination Date and the Initial
Closing Date, respectively, the Facsimile Notice (as defined herein) and related
Confirmation (as defined herein) described in

                                        2

<PAGE>   4

paragraph 4(b) hereof, then the Escrow Agent shall disburse the collected funds
then held in the Escrow Account (less fees of the Escrow Agent as provided
herein) to the Company and to the Managing Placement Agent, as provided herein
and subject to the provisions hereof, at the Initial Closing. As used in this
Agreement, the terms "Initial Closing" and "Initial Closing Date" shall have the
meanings ascribed to such terms in Section 4(g) of the Managing Placement Agent
Agreement; the Initial Closing shall be scheduled as provided therein.

         (b) On or before the Termination Date, the Escrow Agent shall have
received Facsimile Notice (as defined herein) from the Company and the Managing
Placement Agent that all conditions precedent to the disbursement of
Subscription Proceeds on the Initial Closing Date (including without limitation
all of the conditions set forth in Section 9 of the Managing Placement Agent
Agreement) have been fully satisfied as required under the Prospectus, the
Managing Placement Agent Agreement, Rule 15c2-4 and/or NASD Notices to Members
84-64 and 84-7, specifically certifying that subscriptions for not less than
60,000 shares of Common Stock have been received and accepted by the Company on
or before the Termination Date; Confirmation (as defined herein) of such
Facsimile Notice shall be delivered to the Escrow Agent on or before the Initial
Closing Date, dated as of the Initial Closing Date.

         (c) Provided that the Escrow Agent shall have (i) received and be
holding in escrow collected Subscription Proceeds as required under paragraph
4(a) hereof, (ii) received the Facsimile Notice (as defined herein) required
under paragraph 4(b) hereof on or before the Termination Date and (ii) received
Confirmation (as defined herein) of the Facsimile Notice required under
paragraph 4(b) hereof on or before the Initial Closing Date, the Escrow Agent
shall, on the Initial Closing Date, disburse the collected funds then held in
the Escrow Account as follows: First, to the Escrow Agent in the amount of any
fees then due and payable to such Agent (which shall not exceed on the Initial
Closing Date the aggregate earnings, if any, on funds held in the Escrow
Account, determined as of the business day immediately preceding such Closing
Date); Second, to the Managing Placement Agent in an amount equal to the
aggregate selling commissions and expense allowances then due and payable to the
Selected Placement Agents pursuant to the Managing Placement Agent Agreement;
and Third, to the Company in the amount of any balance then remaining in the
Escrow Account.

         (d) If any of the conditions described in paragraphs 4(a) and 4(b)
hereof shall not have been fully satisfied at the close of business on the date
(Termination Date or Initial Closing Date) specified herein for such compliance,
the Escrow Agent shall promptly return all Subscription Proceeds directly to
subscribers, with interest thereon at its passbook rate for the period held in
escrow, and the escrow provided for herein shall thereupon terminate.

         5.   Additional Closings.

         (a) Subsequent to the Initial Closing Date, the collected funds then
held in the Escrow Account shall be disbursed by the Escrow Agent from time to
time, as provided in Section 4(g) of the Managing Placement Agent Agreement, at
one or more Additional Closings. As used herein, the terms "Additional Closing"
and "Additional Closing Date" shall have the meanings ascribed to such terms in
Section 4(g) of the Managing Placement Agent Agreement; Additional Closings
shall be scheduled as provided in such Agreement; provided, however, that no
Additional Closing shall occur less than seven (7) days nor more than thirty
(30) days following the immediately preceding Closing.

         (b) Prior to the disbursement of collected funds held in the Escrow
Account at any Additional Closing, the Escrow Agent shall have received
Facsimile Notice (as defined herein) from the Company and the Managing Placement
Agent that all conditions precedent to such disbursement by the Escrow Agent
(including without limitation all of the conditions set forth in Section 9 of
the Managing Placement Agent Agreement) have been fully satisfied as required
under the Prospectus, the Managing Placement Agent Agreement, Rule 15c2-4 and
NASD Notices to Members 84-64 and 84-7. The Facsimile Notice from the Company
and the Managing Placement Agent provided for in this paragraph 5(b) must be
received by the Escrow Agent not less than two (2) business days prior to such
Additional Closing Date; Confirmation (as defined herein) of such Facsimile
Notice shall be delivered to the Escrow Agent by the Company and the Managing
Placement Agent on or before such Additional Closing Date, dated as of such
Additional Closing Date.

                                        3

<PAGE>   5

         (c) Provided that the Facsimile Notice (as defined herein) required
under paragraph 5(b) hereof shall have been received by Escrow Agent not less
than two (2) business days prior to, and confirmed in writing on or before, each
Additional Closing Date, the Escrow Agent shall, on such Additional Closing
Date, disburse the collected funds then held in the Escrow Account as follows:
First, to the Escrow Agent in the amount of any fees then due and payable to
such Agent (which shall not exceed on any Additional Closing Date the aggregate
earnings, if any, on funds held in the Escrow Account, determined as of the
business day immediately preceding such Closing Date); Second, to the Managing
Placement Agent in an amount equal to the aggregate selling commissions and
expense allowances then due and payable to the Selected Placement Agents
pursuant to the Managing Placement Agent Agreement; and Third, to the Company in
the amount of any balance then remaining in the Escrow Account.

         6.   Books and Records. The Escrow Agent shall maintain accurate
records of all transactions hereunder. Promptly upon the termination of escrow,
or as may reasonably be requested by the Company or the Managing Placement Agent
prior thereto, the Escrow Agent shall provide the Company and the Managing
Placement Agent with a complete copy of such records, certified by the Escrow
Agent to be a complete and accurate account of all such transactions. The
authorized representatives of the Company and the Managing Placement Agent shall
also have access to such books and records at all reasonable times during normal
business hours upon reasonable notice to the Escrow Agent.

         7.   Escrow Agent Fees. As compensation for services performed by it
pursuant to this Agreement, the Escrow Agent shall be entitled to receive from
the Company the fees set forth on Schedule A hereto; such fees shall be deducted
from Escrow Income (as defined in such Schedule A), and the Company shall pay to
the Escrow Agent on demand any portion of such fees which remains unpaid
following the final Closing.

         8.   Termination. This Agreement shall terminate on the final
disposition of the moneys and property held in escrow under and pursuant to the
terms hereof, provided that the rights of the Escrow Agent and the obligations
of the Company under paragraphs 7 and 9 shall survive the termination hereof.

         9.   General Provisions.

         (a) This Agreement expressly sets forth all the duties of the Escrow
Agent with respect to any and all matters pertinent hereto.

         (b) The Escrow Agent shall not be liable, except for its own negligence
or willful misconduct and, except with respect to claims based upon such
negligence or willful misconduct that are successfully asserted against the
Escrow Agent. The Company shall indemnify and hold harmless the Escrow Agent
(and any successor Escrow Agent) from and against any and all losses,
liabilities, claims, actions, damages and expenses, including reasonable
attorneys' fees and disbursements, arising out of and in connection with this
Agreement.

         (c) The Escrow Agent shall be entitled to rely upon any order,
judgment, certification, demand, notice, instrument or other writing delivered
to it hereunder without being required to determine the authenticity or the
correctness of any fact stated therein or the propriety or validity of the
service thereof. The Escrow Agent may act in reliance upon any instrument or
signature believed by it to be genuine and may assume that any person purporting
to give notice or advice, or to accept and acknowledge receipt, or to make any
statement or execute any documents in connection with the provisions of this
Agreement has been duly authorized to do so.

         (d) In the event that the Escrow Agent (i) shall be uncertain as to its
duties arising under this Agreement or (ii) shall receive instructions from the
Company or the Managing Placement Agent as to the funds held in the Escrow
Account which, in its opinion, are inconsistent with each other or are in any
conflict with any of the provisions of this Agreement, the Escrow Agent shall be
authorized to hold any and all Subscription Proceeds received by it, together
with any other amounts which shall accrue to or be deposited in the Escrow
Account, pending the settlement of any such controversy by final adjudication of
a court of competent jurisdiction, or the Escrow Agent may, at its option,
deposit such funds with the clerk of a court of competent jurisdiction, in an
appropriate proceeding to which all parties in interest are duly joined.

                                        4

<PAGE>   6

         (e) The Escrow Agent (and any successor escrow agent) may at any time
resign as such by delivering all amounts held in the Escrow Account to any
successor escrow agent designated by the Company in writing, or to any court of
competent jurisdiction, whereupon the Escrow Agent shall be discharged of and
from any and all further obligations arising in connection with this Agreement.
The resignation of the Escrow Agent will take effect (i) upon the appointment of
a successor (including a court of competent jurisdiction) or (ii) thirty (30)
days after the date of delivery of its written notice of resignation to the
Company and the Managing Placement Agent, whichever first occurs. If at such
time the Escrow Agent has not received a written designation of a successor
escrow agent, the Escrow Agent's sole responsibility thereafter shall be to
safekeep the funds held in the Escrow Account until receipt by the Escrow Agent
of a written designation by the Company of a successor escrow agent or a final
order of a court of competent jurisdiction.

         (f) The parties hereto hereby irrevocably submit to the jurisdiction of
any Wisconsin state court or federal court sitting in Wisconsin in any action or
proceeding arising out of or relating to this Agreement, and the parties hereby
irrevocably agree that all claims in respect of such action or proceeding shall
be heard and determined in such state or federal court. The parties to this
Agreement hereby consent to and grant to any such court jurisdiction over the
persons of such parties and over the subject matter of any such dispute and
agree that delivery or mailing of any process, instrument or other paper in
connection with any such action or proceeding in the manner provided in this
Agreement, or in such other manner as may be permitted by law, shall be valid
and sufficient service of such process, instrument or other paper.

         (g) This Agreement shall be binding upon and inure solely to the
benefit of the parties hereto and their respective successors and assigns, and
shall not be enforceable by or inure to the benefit of any third party. Except
as provided herein with respect to a resignation by the Escrow Agent, no party
hereto may assign any of its rights or obligations under this Agreement without
the prior written consent of the other parties hereto.

         (h) This Agreement may only be modified by a written instrument signed
by the parties hereto, and no waiver hereunder shall be effective unless in
writing signed by the party to be charged.

         (i) The Escrow Agent makes no representation as to the validity, value,
genuineness or the collectibility of any security or other document or
instrument held by or delivered to such Escrow Agent pursuant to the terms of
this Agreement.

         (j) For purposes hereof, "Facsimile Notice" shall mean the delivery by
telephone facsimile (FAX) of a notice, request, demand or other communication
provided for herein, and "Confirmation" shall mean the delivery by hand (via
commercial courier service or otherwise) or by first class mail, if and to the
extent required hereunder, of a manually-signed (if applicable) counterpart of
any such notice, demand or other communication. All Facsimile Notices and
Confirmations shall be deemed given when received and shall be telecopied and
delivered by hand, respectively, to the parties at the facsimile (FAX) telephone
numbers and addresses listed below, or to such other persons or facsimile
telephone numbers/addresses as the relevant party shall designate from time to
time in writing delivered by hand as aforesaid:

<TABLE>
<S>                                              <C>
     If to the Company:                          Harp & Eagle, Ltd.
                                                 Attention:  Cary James O'Dwanny
                                                 Facsimile Notice (FAX) Telephone Number:  (414) 290-6300
                                                 Confirmation Address:     1234 North Astor Street
                                                                           Milwaukee, Wisconsin 53202

     If to the Escrow Agent:                     Grafton State Bank
                                                 Escrow Department
                                                 Attention:  Dorothy Jochims
                                                 Facsimile Notice (FAX) Telephone Number:  (414) 377-6328
                                                 Confirmation Address:     101 Falls Road
                                                                           Grafton, Wisconsin  53024
</TABLE>

                                        5

<PAGE>   7

<TABLE>
<S>                                              <C>
     If to the Managing Placement Agent:         J.E. Liss & Company, Inc.
                                                 Attention:  Jerome E. Liss
                                                 Facsimile Notice (FAX) Telephone Number:  (414) 225-3168
                                                 Confirmation Address:     424 East Wisconsin Avenue
                                                                           Milwaukee, Wisconsin  53202
</TABLE>

         (k) This Agreement shall be construed in accordance with and governed
by the internal law of the State of Wisconsin.

         (l) This Agreement may be executed in several counterparts, each of
which shall be deemed an original, and all of which together shall constitute
one and the same instrument.

         IN WITNESS WHEREOF, the parties hereto have executed this Escrow
Agreement as of the day and year first above written.

                                            International Monetary Systems, Ltd.

                                       By:
                                          --------------------------------------
                                               Cary James O'Dwanny, President

                                                  J.E. Liss & Company, Inc.

                                       By:
                                          --------------------------------------
                                                  Jerome E. Liss, President

                                                     Grafton State Bank

                                       By:
                                          --------------------------------------
                                                Thomas J. Sheehan, President

                                        6

<PAGE>   8

                                ESCROW AGREEMENT

                                   Schedule A

         This Schedule A to the Escrow Agreement, dated as of            , 2001,
by and among Grafton State Bank ("Escrow Agent"), International Monetary
Systems, Ltd. ("Company") and J.E. Liss & Company, Inc. ("Managing Placement
Agent"), sets forth the compensation arrangements referred to in paragraph 7 of
such Agreement, as follows:

         For services performed by it pursuant to the Escrow Agreement, the
Escrow Agent shall be entitled to receive from the Company fees in the amounts
of $2,500, payable upon the execution hereof, plus $250 per Closing and $10 per
subscriber (whether accepted or rejected); provided, however, that the Escrow
Agent shall receive, in the aggregate, not less than $3,000 in consideration of
its services rendered pursuant to the terms of the Escrow Agreement. Except for
the initial payment due upon the execution of this Agreement, such fees shall be
(a) due and payable on the Initial Closing Date and each Additional Closing Date
until paid in full and (b) payable, through the final Closing, only from and to
the extent of available Escrow Income; provided that, if payments made from
available Escrow Income, made at the Initial Closing and one or more Additional
Closings are not, in the aggregate, sufficient to pay such fees in full, the
Company shall pay on demand any such fees which remain unpaid following the
final Closing. "Escrow Income" is the amount of interest and/or dividends, if
any, which shall have been (x) paid on or in respect of the Escrow Account
(representing earnings on funds held therein) and (y) deposited in such Account
as collected funds on or prior to the business day immediately preceding such
Initial Closing Date or Additional Closing Date, as the case may be. If and to
the extent that Escrow Income exceeds the aggregate fees payable to the Escrow
Agent hereunder, such excess shall be paid to the Company at the Initial Closing
or Additional Closing(s), as the case may be. The foregoing notwithstanding, if
the Offering is terminated prior to the Initial Closing, pursuant to the
provisions of Section 12 of the Managing Placement Agent Agreement or otherwise,
the Escrow Agent shall be entitled to receive fees in the aggregate amount of
$3,500, and no more, payable by the Company on demand. All terms used herein
shall have the same meanings ascribed to them in the Escrow Agreement of which
this Schedule is a part.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00019-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00019-of-00352.parquet"}]]