Document:

exh10_13.htm

 

               

 

Exhibit 10.13

 

SUBSCRIPTION AGREEMENT

 

Boston Therapeutics, Inc.

1750 Elm Street, Suite 103

Manchester, NH 03104

Tel. (603) 935-9799

 

THIS SUBSCRIPTION AGREEMENT made this           day of                , 2015 by and between Boston Therapeutics, Inc., a Delaware corporation (hereinafter “ Company”), and the undersigned Subscriber (hereinafter “Subscriber”), who, for and in consideration of the mutual promises and covenants set forth herein, do hereto agree as follows:

1.     Subscription.   The  Subscriber  hereby  subscribes   for                 Shares (hereinafter “Shares”) of the Company’s Common Stock, at a price of $0.20 per Share, and herewith tenders to the Company by certified bank funds for  the subscription in the amount  of   US $             , which the Subscriber tenders herewith as payment for the Shares. For every share of Common Stock purchased, Subscriber shall receive, at no additional cost, a warrant to purchase one half of one (1/2) share of Common Stock in the form attached hereto as Exhibit A (the “Warrant”). The Warrant shall have a 5 year term and shall be exercisable at any time after issuance at a price of $0.30 per share.

The Offering will close on ______, 2015, 90 days after we commence the offering, unless all the securities are sold before that date, we extend the offering another 90 days or we otherwise decide to close the offering early or cancel it, in each case in our sole discretion.  If we extend the offering, we will provide that information in an amendment to this prospectus.  If we close the offering early or cancel it, including during any extended offering period, we may do so without notice to investors, although if we cancel the offering entirely, we will promptly return any funds investors may already have paid.  As there is no minimum amount of proceeds to be raised, the funds will be deposited in the Company’s operating account and used set forth in the Use of Proceeds section of this prospectus. Because there is no minimum offering required as a condition to closing in this offering, the actual public offering amount and proceeds to us, if any, are not presently determinable and may be substantially less than all of the securities offered hereby.  

This Subscription Agreement (hereinafter “Subscription”) is an offer by the Subscriber to subscribe for the securities offered by the Company, and, subject to the terms hereof, shall become a contract for the sale of said securities upon acceptance thereof by the Company.

2.     Acknowledgement. The undersigned acknowledges that, prior to signing this Subscription Agreement and making this offer to purchase, he or she has received the Prospectus  describing the offering of the Shares and Warrants by the Company as filed with the United States Securities and Exchange Commission (the “Prospectus”), is an Accredited Investor, and that he or she understands the risks of and other considerations relevant to, a purchase of the Shares and Warrants, including those described under the caption “Risk Factors” in the Prospectus. The undersigned understands that the resale of the Shares must be effected in reliance on exemptions from qualification in certain states. The undersigned represents that the undersigned is a resident of the state set forth in the “Subscriber Information” section of the signature page below. The undersigned further acknowledges that, if the undersigned is a natural person, the undersigned is at least 21 years of age.

 

 

Boston Therapeutics, Inc. OTCQB: BTHE

1750 Elm Street Suite 103 Manchester, NH 03104

Tel: (603) 935-9799  Fax: (603) 685-4784 www.bostonti.com

 

  

  

  

 

3.     Acceptance of Subscription and Delivery of Shares and Warrants. This Subscription Agreement is made subject to the Company’s discretionary right to accept or reject the Subscription herein. If the Company for any reason rejects this Subscription, the Subscription will be refunded in full, without interest, and this Subscription Agreement shall be null, void and of no effect. Acceptance of this Subscription by the Company will be evidenced by the execution hereof by an officer of the Company. Delivery of the Shares and Warrants subscribed for herein will be made within three (3) days following the acceptance of this Subscription by the Company.

 

The undersigned hereby executes this Subscription Agreement as of the          day of         , 2015, at                                        ,                                                          

(city)                                (state or country)

 

Investor Signature  (if individual)                                                                               

 

Print Name:                                                                                                                      

 

If more than one name on the stock certificate, sign below:

 

Second Investor Signature                                                                                          

 

Print Name:                                                                                                                     

 

Address, if different from First Investor                                                                   

 

                                                                                                                                         

 

If more than one name on the stock certificate, check status below:

 

	
_______

	
Tenants in Common

	

_______

	
Joint Tenants with Right of Survivorship

	

_______

	
Other (describe):                                                                                         

 

Investor (if entity)

 

Print Entity Name:                                                                                

 

Print Signatory Name:                                                                         

 

By (signature):                                                                                     

 

Title:                                                                                                      

 

  

2

  

 

Please complete the Subscriber information and Accredited Investor form on the following pages.

 

 

 

 

 

 

  

3

  

 

Subscriber Information:

 

Name:        __________________________________________________

 

Address:  __________________________________________________                                                                                                

 

State or Country:  ______________________ Postal Code: ___________

     

Taxpayer ID Number (if U.S. subscriber): ___________________________

 

 

Driver’s License or Passport ___________________________________

Identification Number

 

email  _________________ @ _______________

 

 

  

4

  

 

 

The Company hereby accepts this subscription subject to the terms and conditions set forth in this Agreement as of this _____day of_______________, 2015.

 

BOSTON THERAPEUTICS, INC.                                     By: ______________________________

 

Name: ___________________________

 

Title:   ___________________________         

 

  

5

  

 

PAYMENT INSTRUCTIONS:

 

Please submit this signed agreement with payment. Investor may send funds in the form of check, money order or bank wire.  For bank wiring instructions see below.

WIRE INSTRUCTIONS

 

                                

	
  

	
Bank Name

 

Bank Address

 

Account Name

ABA Number

Routing Number

Account Number

Swift Code:

	
Citizens Bank

1188 Centre Street, 

Newton, MA 02459      

 

Boston Therapeutics Inc.

011500120  (wire transfer)

211070175 (ACH)

131561-803-3

CTZIUS33

 

If by check or money order, Investor should make payable to:

 

“Boston Therapeutics, Inc.”

Please send this signed agreement and check or money order via Fedex. The Company is providing a Fedex account # 478696540 for your convenience. Please submit to the following address:

 

 

Boston Therapeutics, Inc.

Attn: Anthony Squeglia

1750 Elm Street, suite 103

Manchester, NH 03104

603-935-9799

Anthony.squeglia@bostonti.com

www.bostonti.com

 

  

6

  

 

 

EXHIBIT A

 

BOSTON THERAPEUTICS, INC.

ACCREDITED INVESTOR CERTIFICATION

For Individual Investors Only

 

(All individual investors must INITIAL where appropriate.  Where there are joint investors both parties must INITIAL):

	
  

	 

	
Initial _______

	
I certify that I have a “net worth” of at least $1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse.  For purposes of calculating net worth under this paragraph, (i) the primary residence shall not be included as an asset, (ii) to the extent that the indebtedness that is secured by the primary residence is in excess of the fair market value of the primary residence, the excess amount shall be included as a liability, and (iii) if the amount of outstanding indebtedness that is secured by the primary residence exceeds the amount outstanding 60 days prior to the execution of this Subscription Agreement, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability.

	
Initial _______

	
I certify that I have had an annual gross income for the past two years of at least $200,000 (or $300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.

	
For Non-Individual Investors

	
(all Non-Individual Investors must INITIAL where appropriate):

	
Initial _______

	
The undersigned certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet either of the criteria for Individual Investors, above.

	
Initial _______

	
The undersigned certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least $5 million and was not formed for the purpose of investing in Company.

	
Initial _______

	
The undersigned certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment adviser.

	
Initial _______

	
The undersigned certifies that it is an employee benefit plan whose total assets exceed $5,000,000 as of the date of the Subscription Agreement.

	
Initial _______

	
The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet either of the criteria for Individual Investors, above.

	
Initial _______

	
The undersigned certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.

	
Initial _______

	
The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.

	
  

	 

 

  

  

  

 

	
Initial _______

	
The undersigned certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding $5,000,000 and not formed for the specific purpose of investing in Company.

	
Initial _______

	
The undersigned certifies that it is a trust with total assets of at least $5,000,000, not formed for the specific purpose of investing in Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the prospective investment.

	
Initial _______

	
The undersigned certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of $5,000,000.

	
Initial _______

	
The undersigned certifies that it is an insurance company as defined in §2(a)(13) of the Securities Act of 1933, as amended, or a registered investment company.

 

  

  

  

 

BOSTON THERAPEUTICS, INC.

 

Purchaser Questionnaire

(Must be completed by Purchaser)

 

Section A - Individual Purchaser Information

Purchaser Name(s): ________________________________________________________________________

 

Individual executing Profile or Trustee:

_______________________________________________________________________

 

Social Security Numbers / Federal I.D. Number:

________________________________________________________________________

Date of Birth: _________________   Marital Status: _________________

Joint Party Date of Birth: _________________

Investment Experience (Years): ___________

Annual Income: _________________

Liquid Net Worth: _____________

Net Worth: ________________

 

	
Investment Objectives (circle one or more):

	
 Long Term Capital Appreciation, Short Term Trading, Businessman’s Risk, Income, Safety of Principal, Tax Exempt Income or other

 

Home Street Address:

________________________________________________________________________

 

Home City, State & Zip Code:

________________________________________________________________________

 

Home Phone: ________________________ Home Fax: _____________________

 

Home Email: _______________________________

 

Employer: ________________________________________________________________________

 

Employer Street Address:

________________________________________________________________________

 

Employer City, State & Zip Code:

________________________________________________________________________

 

Bus. Phone: __________________________ Bus. Fax: _______________________

 

Bus. Email: ________________________________

 

Type of Business: ________________________________________________________________________

 

Broker/Dealer: _______________________________________________________

 

 

Please check if you are a FINRA member or affiliate of a FINRA member firm: _______

 

BOSTON THERAPEUTICS, INC.

 

Purchaser Questionnaire

(Must be completed by Purchaser)

  

  

  

 

Section B – Entity Purchaser Information

Purchaser Name(s): ________________________________________________________________________

 

Authorized Individual executing Profile or Trustee:

_______________________________________________________________________

 

Social Security Numbers / Federal I.D. Number:

________________________________________________________________________

Investment Experience (Years): ___________

Annual Income: _______________

Net Worth: ________________

Was the Entity formed for the specific purpose of purchasing the Common Stock and Warrants?

[  ] Yes  [  ] No

Principal Purpose (Trust)______________________________________

 

Type of Business: ________________________________________________________

 

	
Investment Objectives (circle one or more):

	
Long Term Capital Appreciation, Short Term Trading, Businessman’s Risk, Income, Safety of Principal, Tax Exempt Income or other

 

Street Address: ________________________________________________________________________

 

City, State & Zip Code:

________________________________________________________________________

 

Phone: ________________________           Fax: ________________________

 

Email: __________________________

 

 

Outside Broker/Dealer:

 

_______________________________________________________

 

 

Please check if you are a FINRA member or affiliate of a FINRA member firm: _______

  

  

  

Section C – Form of Payment – Check or Wire Transfer

____ Check payable to “BOSTON THERAPEUTICS, INC.

 

____ Wire funds from my brokerage account according to the “To subscribe for Units of Common Stock and Warrants to Purchase Shares of Common Stock in the public offering of BOSTON THERAPEUTICS, INC.”

 

____ The funds for this investment are rolled over, tax deferred from  ____________________ within the Allowed 60-day window

 

Section D – Purchaser Instructions for Payments of any Dividends

 

 

	 	 	

Please make any dividend and any other payment checks pursuant to the Units to [Insert Client Name                             ] and deliver such checks to [Insert Brokerage Name                                        ] so that they may deposit them into my brokerage account

	 	 	 
	 	 	

Please make out any dividend and any other payment checks pursuant to the Units in the registered name of the Purchaser set forth in the signature page to the Subscription Agreement for the Units and mail such checks to me at the address specified in such signature page

 

Section E – Securities Delivery Instructions (check one)

____  Please deliver my securities to my Brokerage Firm for deposit into my brokerage account.

____  Please deliver my securities to the address listed in the above Purchaser Questionnaire.

____  Please deliver my securities to the below address:

_________________

_________________

_________________

_________________

Purchaser Signature(s): _______________________________________Date:_______________

 

Boston Therapeutics, Inc. OTCQB:BTHE

1750 Elm Street Suite 103 Manchester, NH 03104

Tel: (603) 935-9799  Fax: (603) 685-4784 www.bostonti.comEX-10.1

 Exhibit 10.1 

April 23, 2015 
 Mr. Greg M. Schwartz 

Zillow Group, Inc. 
 1301 Second Ave., Floor 31 

Seattle, WA 98101 
 Dear Greg: 

This letter agreement (“Agreement”) is entered into by and between you and Zillow Group, Inc., a Washington corporation (the
“Company”), effective as of January 1, 2015 (the “Effective Date”). 
 1. Purpose. The purpose
of this Agreement is to set forth the terms and conditions governing your opportunity to earn annual cash-based awards based on achievement of identified revenue measures described below. The bonus opportunities granted under this Agreement are
intended to be cash-based awards under Section 12 of the Zillow, Inc. Amended and Restated 2011 Incentive Plan, as amended and/or restated from time to time and as assumed by the Company (the “Plan”). 

2. Term. This Agreement is effective as of the Effective Date and shall remain in effect until the earlier of its termination by the Compensation
Committee of the Board of Directors (the “Compensation Committee”), subject to Section 9 hereof, or your termination of employment or service with the Company (the “Term”). This Agreement does not
guarantee your employment, the terms of which continue to be governed by your employment agreement with the Company. 
 3. Elements of the Bonus
Opportunity. You will be eligible to earn annual cash bonuses (each, a “Bonus”) in the amounts and based on achievement of the performance metrics and during the performance periods set forth below:

  

	 	a.	Total Revenue Bonus: You will be eligible to receive a $50,000 semi-annual Bonus based on targeted Company total revenue during the applicable performance periods (“Total Revenue”).
Total Revenue will be calculated under U.S. generally accepted accounting principles except as otherwise provided herein. The Compensation Committee will annually approve Total Revenue targets for each of the performance periods
January 1 through June 30 and July 1 through December 31. No amount will be paid with respect to a six-month period if the Total Revenue target is not achieved for such period. The amount of the Bonus for a six-month period
will increase on a straight percentage basis to the extent Total Revenue exceeds Total Revenue target. Any Bonus payments will be calculated and paid as soon as practicable following completion of the applicable six-month period but in any event by
no later than 74 days after completion of such period. 

  

	 	b.	 Agent Revenue Bonus: You will be eligible to receive a $25,000 semi-annual Bonus based on targeted Agent Revenue during the applicable
performance periods. “Agent Revenue” will be calculated as revenue from Zillow Premier Agent and Trulia agent products. The Compensation Committee will annually approve the targeted Agent Revenue for each of the performance
periods January 1 through June 30 and July 1 through December 31. No amount will be paid with respect to a 

	 	
six-month period if the revenue target is not achieved for such period. The amount of the Bonus for a six-month period will increase on a straight percentage basis to the extent that generated
revenue exceeds target. Any Bonus payment will be calculated and paid as soon as practicable after the end of the applicable six-month period but in any event by no later than 74 days after completion of such period. 

 

	 	c.	Other Real Estate Revenue Bonus: You will be eligible to receive a $25,000 semi-annual Bonus based on targeted other real estate revenue (i.e., revenue generated by Rentals, StreetEasy, and Diverse Solutions)
during the applicable performance periods. The Compensation Committee will annually approve the targeted other real estate revenue for each of the performance periods January 1 through June 30 and July 1 through December 31. No
amount will be paid with respect to a six-month period if the revenue target is not achieved for such period. The Bonus payment for a six-month period will increase on a straight percentage basis to the extent that generated revenue exceeds target.
Any Bonus payment will be calculated and paid as soon as practicable after the end of the applicable six-month period but in any event by no later than 74 days after completion of such period. 

 

	 	d.	Calculation of Revenue and Compensation Committee Certification. For each of the performance metrics set forth above, the following will be excluded from the calculation of the applicable revenue measure:
(a) revenue generated by Market Leader; (b) fair value-based purchase accounting adjustments for deferred revenue (if any). At the conclusion of a performance period and prior to the payment of any Bonus for a performance period, the
Compensation Committee will certify in writing the extent to which the performance goals applicable for the performance period were achieved or exceeded, the final amount of the Bonus payable to you with respect to such period, and any other
material terms. 

  

	 	e.	Continued Employment. Payment of any Bonus under this Agreement is subject to your continued employment or service to the Company on a full-time basis through the last day of each applicable performance period
(i.e., the six-month period over which performance for a Bonus payout is measured). Bonuses will be paid in cash in a single, lump sum payment, subject to applicable payroll taxes and tax withholding. 

 

	 	f.	Dollar Limitations. The total Bonus payouts under this Agreement shall not exceed $2,000,000 in any calendar year. 

4. Recoupment. In the event that revenue upon which a Bonus was calculated is determined to have been overstated as a result of your misconduct, you
will be required to reimburse the Company for any Bonus payment received based upon such revenue and will not be eligible to receive any Bonus payment otherwise accrued but unpaid based upon such revenue. Recoupment of any Bonus shall otherwise be
required to the extent required by applicable law or the terms of a Company’s clawback policy, as then in effect and as it may be amended from time to time (the “Policy”), to the extent that the Policy applies to such
Bonus. 
 5. Assignment. This Agreement is personal to you and cannot be assigned by you. All of the terms and provisions of this Agreement shall be
binding upon and shall inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. 

 6. Administration. The Compensation Committee will administer this Agreement. You understand that the
Compensation Committee may adjust revenue targets or other terms set forth herein as a result of acquisitions, divestitures, or other extraordinary events or conditions during a calendar year. Subject to the last sentence of this Section 6, the
Compensation Committee further may adjust the Bonus amounts set forth in Section 3 of this Agreement for calendar years 2016 and beyond, in its discretion. Any determinations made by the Compensation Committee with respect to this
Agreement and any payouts thereunder will be final and binding on you. Notwithstanding anything to the contrary in this Agreement, in the event the Compensation Committee specifies that bonus opportunities for a performance period under this
Agreement are governed by Section 16 of the Plan, the Compensation Committee shall have the power to administer this Agreement in a manner intended to ensure that this Agreement satisfies all requirements for “performance-based
compensation” within the meaning of Section 162(m)(4)(C) of the Code and any successor provision thereto. 
 7. Applicable Law. This
Agreement will in all respects, including all matters of construction, validity and performance, be governed by, and construed and enforced in accordance with, the laws of the State of Washington, without regard to any rules governing conflicts of
laws. 
 8. No Trust or Fund. Each Bonus that may become payable under this Agreement will be paid solely from the general assets of the Company.
Nothing in this Agreement should be construed to create a trust or to establish or evidence your claim of any right to payment of a Bonus other than as an unsecured general creditor with respect to any payment to which you may be entitled. 

9. Amendment. The Compensation Committee reserves the right to unilaterally amend, modify or terminate this Agreement at any time, except that any such
amendment (other than amendments or adjustments permitted by Section 6 of this Agreement and, for the avoidance of doubt, Section 16 of the Plan), modification or termination may not, without your written consent, materially adversely
affect your rights with respect to any six-month period for which the Compensation Committee has previously approved revenue targets pursuant to Section 3 of this Agreement. Notwithstanding the foregoing, the Compensation Committee may
amend this Agreement at any time as it deems necessary or desirable to avoid adverse tax consequences under Section 409A of the Internal Revenue Code of 1986, as amended. 

10. Entire Agreement. This Agreement, on and as of the Effective Date, constitutes the entire agreement between the Company and you with respect to the
subject matter hereof, and all prior or contemporaneous oral or written communications, understandings or agreements between the Company and you with respect to such subject matter (including, without limitation, the Letter Agreement dated
June 16, 2014 by and between you and the Company (the “2014 Letter Agreement”)) are hereby superseded in their entirety, except as otherwise provided herein. For the avoidance of doubt, the 2014 Letter Agreement shall be
deemed terminated as of the Effective Date, provided, however, that those provisions of the 2014 Letter Agreement that must survive in order to give proper effect to their intent shall survive such termination. This Agreement may be executed in
counterparts. 
 11. Severability. If any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision of this Agreement or any action in any other jurisdiction, but this Agreement will be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

 IN WITNESS WHEREOF, the parties have executed and entered into this Agreement as of the date first set
forth above. 
  

					
	GREG M. SCHWARTZ				ZILLOW GROUP, INC.
			
	 /s/ Greg M. Schwartz
				 /s/ Kathleen Philips

					Print name: Kathleen Philips
					Title: Chief Operating Officer and Chief Legal Officer

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