Document:

exv4w4

 

Exhibit 4.4

SHARE ESCROW AGREEMENT dated as of 24 April 2006 (the “Agreement”), by and among:

(1) Cross Shore Acquisition Corporation, a company organised under the
laws of the State of Delaware with its registered office at Corporation
Trust Center, 1209 Orange Street, City of Wilmington, County of New Castle,
Delaware 19801 (“Company”);

(2) Dennis
Smith, Edward Yang, Jon Burgman, Stephen Stonefield, CSA I,
LLC, CSA II, LLC, CSA III, LLC and Sunrise Securities Corp. (“Sunrise”)
(each a “Founding Shareholder” and together the “Founding Shareholders”);
and

(3) Collins Stewart (Cl) Limited, a company Incorporated in and
registered under the laws of Guernsey, with its registered office at 2nd
Floor, No. 1 Le Truchot, St. Peter Port, Guernsey, GY1 4AE (the “Escrow
Agent”).

     WHEREAS, the Founding Shareholders have agreed to subscribe (directly
or indirectly) for, and the Company has agreed to issue to such Founding
Shareholders, 4,666,667 shares of common stock, par value $0,0001 per share
(the “Shares”), such Shares subscribed for being the “Founding Shares”;

     WHEREAS, the Founding Shareholders have agreed as a condition of their
subscription for the Founding Shares to deposit such Founding Shares as are
set forth opposite their respective names in Exhibit A attached hereto
(collectively the “Escrow Shares”), in escrow as hereinafter provided;

     WHEREAS, the Company and the Founding Shareholders desire that the
Escrow Agent hold the Escrow Shares, in escrow, to be held and disbursed as
hereinafter provided.

     IT IS AGREED:

     1. Appointment of Escrow Agent. The Company and the Founding
Shareholders hereby appoint the Escrow Agent to act in accordance with and
subject to the terms of this Agreement and the Escrow Agent hereby accepts
such appointment and agrees to act in accordance with and subject to such
terms.

     2. Deposit of Escrow Shares. On or before the Admission Date, each of
the Founding Shareholders shall deliver to the Escrow Agent certificates
representing its respective Escrow Shares, to be held and disbursed subject
to the terms and conditions of this Agreement. For the purposes of this
Agreement, “Admission Date” means the date on which the Shares and Warrants
(as such term is used in the offering circular of the Company dated on or
about the date hereof (the “Offering Circular”)) of the Company are first
admitted to trading on AIM (a market operated by the London Stock Exchange
plc). For the avoidance of doubt, title to the Escrow Shares shall remain
with the Founding Shareholders.

     3. Disbursement of the Escrow Shares. The Escrow Agent shall hold the
Escrow Shares until the third anniversary of the Admission Date (the
“Escrow Period”). On the expiry of the Escrow Period, the Escrow Agent
shall, upon written instructions from the Company, disburse each of the
Founding Shareholder’s Escrow Shares to such Founding Shareholder;
provided, however, that if the Escrow Agent is notified in writing by the
Company that the Company:

	 	(a)	 	is being dissolved or liquidated at any time during the Escrow
Period, then the Escrow Shares shall be forfeited and the Escrow Agent
shall return the certificates representing the Escrow Shares to the
Company for cancellation of the Escrow Shares;
	 
	 	(b)	 	having consummated a Qualified Business Combination (as such term
is used in the Offering Circular), intends to consummate a
liquidation, merger, amalgamation, share exchange or other similar
transaction which results in (or would result in) all of the
shareholders of such resulting entity having the right to exchange
their Shares for cash, securities or other property, then the Escrow
Agent will, upon receipt of a certificate executed by the chairman or
chief executive officer of the Company, in a form reasonably
acceptable to the Escrow Agent, stating that such transaction is being
consummated, release the Escrow Shares to the Founding Shareholders
when the consummation of the transaction becomes unconditional in all
respects (save for consummation of such exchange) so that they can
similarly participate; or

 

 

	 	(c)	 	is repurchasing any of the Escrow Shares in accordance with its
certificate of incorporation or otherwise for cancellation, then the
Escrow Agent will, upon receipt of a certificate stating that such
repurchase is being undertaken, executed by the chairman or chief
executive officer of the Company and in a form reasonably acceptable
to the Escrow Agent (the “Repurchase Notice”), release such number of
Escrow Shares as are specified in the Repurchase Notice to the Company
for repurchase and cancellation.

     The Escrow Agent shall have no further duties hereunder in respect of
any Escrow Shares which have been disbursed or destroyed in accordance with
this Section 3 and shall have no further duties under this Agreement once
all Escrow Shares have been disbursed or destroyed in accordance with this
Section 3.

     4.  Rights of Founding Shareholders in Escrow Shares.

     4.1 Voting Rights as a Shareholder. Subject to the terms of the
Insider Letters (as defined in Section 4.4 hereof) and except as herein
provided, the Founding Shareholders shall retain all of their rights as
holders of Shares in the Company during the Escrow Period, including,
without limitation, the right to vote in respect of such Shares.

     4.2 Dividends and Other Distributions in Respect of the Escrow Shares.
During the Escrow Period, all dividends or other distributions payable in
cash with respect to the Escrow Shares shall be paid to the Founding
Shareholders, but all dividends payable in shares or other non-cash
property (“Non-Cash Dividends”) shall be delivered to the Escrow Agent to
hold in accordance with the terms hereof. As used herein, the term “Escrow
Shares” shall be deemed to include the Non-Cash Dividends distributed
thereon, if any.

     4.3 Restrictions on Transfer. During the Escrow Period, no sale,
transfer or other disposition may be made of any or all of the Escrow
Shares except (i) by gift to a member of a Founding Shareholder’s immediate
family or to a trust, the beneficiary of which is a Founding Shareholder or
a member of a Founding Shareholder’s immediate family, (ii) by virtue of
the laws of descent and distribution upon death of any Founding
Shareholder, or (iii) pursuant to a qualified domestic relations order;
provided, however, that such permissive transfers may be implemented only
upon the respective transferee’s written agreement to be bound by the terms
and conditions of this Agreement and of the Insider Letter signed by the
Founding Shareholder transferring the Escrow Shares. During the Escrow
Period, the Founding Shareholders shall not pledge or grant a security
interest in the Escrow Shares or grant a security interest in their rights
under this Agreement.

     4.4 Insider Letters. Each of the Founding Shareholders has executed a
letter agreement with Collins Stewart Limited (“Collins Stewart”), the
Company and, save in the case of Sunrise’s Insider Letter, Sunrise, dated
as indicated on Exhibit A hereto (“Insider Letter”), in connection with the
rights and obligations of such Founding Shareholder in certain events,
including but not limited to the liquidation of the Company.

     5.  Concerning the Escrow Agent.

     5.1
Good Faith Reliance. The Escrow Agent shall not be liable for any
action taken or omitted by it in good faith and in the exercise of its own
best judgment, and may rely conclusively and shall be protected in acting
upon any order, notice, demand, certificate, opinion or advice of counsel
(including counsel chosen by the Escrow Agent), statement, instrument,
report or other paper or document (not only as to its due execution and the
validity and effectiveness of its provisions, but also as to the truth and
acceptability of any information therein contained) which is reasonably
believed by the Escrow Agent to be genuine after appropriate due diligence
and to be signed or presented by the proper person or persons. The Escrow
Agent shall not be bound by any notice or demand, or any waiver,
modification, termination or rescission of this Agreement unless evidenced
in writing delivered to the Escrow Agent signed by the proper party or
parties and, if the duties or rights of the Escrow Agent are affected,
unless it shall have given its prior written consent thereto.

     5.2
Indemnification. The Escrow Agent shall be indemnified and held
harmless by the Founding Shareholders from and against any expenses,
including counsel fees and disbursements, or loss suffered by the Escrow
Agent in connection with any action, suit or other proceeding involving any
claim which in any way, directly or indirectly, arises out of or relates to
this Agreement, the services of the Escrow Agent hereunder, or the Escrow
Shares held by it hereunder, other than expenses or losses arising from the
gross negligence,

 

 

fraud, bad faith, willful default or willful misconduct of the Escrow
Agent. Promptly after the receipt by the Escrow Agent of notice of any
demand or claim or the commencement of any action, suit or proceeding, the
Escrow Agent shall notify the other parties hereto in writing. In the event
of the receipt of such notice, the Escrow Agent shall retain the Escrow
Shares pending receipt of instructions from each of the Company and the
Founding Shareholders or receipt of an order of a court having jurisdiction
over any of the parties hereto directing to whom and under what
circumstances the Escrow Shares are to be disbursed and delivered. The
provisions of this Section 5.2 shall survive in the event the Escrow Agent
resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

     5.3 Compensation. The Escrow Agent shall be entitled to a fee of
$4,000 from the Company for all services rendered by it hereunder. The
Escrow Agent shall also be entitled to reimbursement from the Company for
all expenses paid or incurred by it in the administration of its duties
hereunder including, but not limited to, all counsel, advisors’ and agents’
fees and disbursements and all taxes or other governmental charges.

     5.4 Further Assurances. From time to time on and after the date
hereof, the Company and the Founding Shareholders shall deliver or cause to
be delivered to the Escrow Agent such further documents and instruments and
shall do or cause to be done such further acts as the Escrow Agent shall
reasonably request to carry out more effectively the provisions and
purposes of this Agreement, to evidence compliance herewith or to assure
itself that it is protected in acting hereunder.

     5.5 Resignation. The Escrow Agent may resign at any time and be
discharged from its duties as escrow agent hereunder by its giving the
other parties hereto written notice and such resignation shall become
effective as hereinafter provided. Such resignation shall become effective
at such time that the Escrow Agent shall turn over to a successor escrow
agent appointed by the Company, the Escrow Shares held hereunder.

     5.6 Discharge of Escrow Agent. The Escrow Agent shall resign and be
discharged from its duties as escrow agent hereunder if so requested in
writing at any time by the Company and a majority of the Founding
Shareholders, jointly, provided, however, that such resignation shall
become effective only upon acceptance of appointment by a successor escrow
agent as provided in Section 5.5.

     5.7 Liability. Notwithstanding anything herein to the contrary, the
Escrow Agent shall not be relieved from liability hereunder for its own
gross negligence or its own willful misconduct.

     6.  Miscellaneous.

     6.1 Governing Law. This Agreement shall for all purposes be deemed to
be made under and shall be construed in accordance with the laws of England
and Wales and the parties hereto agree to submit all disputes hereunder to
the non-exclusive jurisdiction of the courts of England and Wales. Any
action, proceeding or claim to be served upon the Company may be served by
transmitting a copy thereof by registered or certified mail, return receipt
requested, postage prepaid, addressed to it at the address set forth in
section 6.6 hereof. Such mailing shall be deemed personal service and shall
be legal and binding upon the Company in any action, proceeding or claim.

     6.2 Third Party Beneficiaries. Each of the Company and the Founding
Shareholders hereby acknowledge that Collins Stewart is a third party
beneficiary of this Agreement, and that this Agreement may not be modified
or changed without the prior written consent of Collins Stewart. Except as
explicitly provided herein, the parties do not intend that any person who
is not a signatory to this Agreement (a “Third Party”) shall acquire any
right under this Agreement (whether or not pursuant to the Contracts
(Rights of Third Parties) Act 1999) nor that the consent of or any notice
to any Third Party shall be required for the variation, rescission or
termination of this Agreement.

     6.3 Entire Agreement. This Agreement contains the entire agreement of
the parties hereto with respect to the subject matter hereof and, except as
expressly provided herein, may not be changed or modified except by an
instrument in writing signed by the party to be charged.

     6.4 Headings. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation thereof.

 

 

     6.5 Binding Effect. This Agreement shall be binding upon and inure to
the benefit of the respective parties hereto and their legal
representatives, successors and assigns.

     6.6 Notices. Any notice or other communication required or which may
be given hereunder shall be in writing and either be delivered personally
or be mailed, certified or registered mall, or by private national courier
service, return receipt requested, postage prepaid, and shall be deemed
given when so delivered personally or, if mailed, two days
after the date of mailing, as follows:

If to the Company, to:

Cross Shore Acquisition Corporation

Corporation Trust Center

1209 Orange Street

City of Wilmington

County of New Castle

Delaware 19801

Attn: Chief Executive Officer

If to a Founding Shareholder, to the address set forth in
Exhibit A, provided that in the case of Dennis Smith and Edward
Yang, service on CSA I, LLC, CSA II, LLC or CSA III, LLC shall
constitute notice on each of them in respect of their holdings
in each of those companies, respectively.

and if to the Escrow Agent, to:

Collins Stewart (Cl) Limited

2nd Floor

No. 1 Le Truchot

St. Peter Port

Guernsey

GY1 4AE

Attn: Andrew Duquemin

A copy of any notice sent hereunder shall be sent to (but shall not constitute notice):

Collins Stewart Limited

9th Floor

88 Wood Street

London

EC2V 7QR

Attn: Seema Paterson

and:

Weil, Gotshal & Manges

One South Place

London, EC2M 2WG

United Kingdom

Attn:
Graham Defries
 Wayne Rapozo

and:

Fried, Frank, Harris, Shriver & Jacobson (London) LLP.

99 City Road

 

 

London, EC1Y0TT

United Kingdom

Attn:
Sian Withey

The parties may change the persons and addresses to which the notices or
other communications are to be sent by giving written notice to any such
change in the manner provided herein for giving notice.

     6.7 Liquidation of Company. The Company shall give the Escrow Agent
written notification of the liquidation and dissolution of the Company in
the event that the Company fails to consummate a Business Combination by
the Qualified Business Combination Deadline (such terms as defined in the
Offering Circular).

 

 

WITNESS the execution of this Agreement as of the date first above written.

	 	 	 	 	 	 	 
	 	 	CROSS SHORE ACQUISITION
CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Dennis Smith	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	FOUNDING SHAREHOLDERS:
	 
	 	 	 	 	 	 
	 	 	/s/ Dennis Smith
	 	 	 
	 	 	DENNIS SMITH
	 
	 	 	 	 	 	 
	 	 	/s/ Edward Yang
	 	 	 
	 	 	EDWARD YANG
	 
	 	 	 	 	 	 
	 	 	/s/ Stephen Stonefield
	 	 	 
	 	 	STEPHEN STONEFIELD
	 
	 	 	 	 	 	 
	 	 	/s/ Jon Burgman
	 	 	 
	 	 	JON BURGMAN
	 
	 	 	 	 	 	 
	 	 	/s/ Dennis Smith
	 	 	 
	 	 	CSA I, LLC
	 
	 	 	 	 	 	 
	 	 	/s/ Dennis Smith
	 	 	 
	 	 	CSA II, LLC
	 
	 	 	 	 	 	 
	 	 	/s/ Dennis Smith
	 	 	 
	 	 	CSA III, LLC
	 
	 	 	 	 	 	 
	 	 	/s/ Marcia Kucher
	 	 	 
	 	 	SUNRISE SECURITIES CORP.
	 
	 	 	 	 	 	 
	 	 	COLLINS STEWART (Cl) LIMITED
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Seema Paterson	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: SEEMA PATERSON	 	 
	 

	 	 	 	Title: DIRECTOR, CORPORATE FINANCEexv4w5

 

Exhibit 4.5

	 	 	 	 	 
	Certificate No.

	 	Registration Date
	 	No. of Shares

CROSS SHORE ACQUISITION CORPORATION

(Incorporated in Delaware under the General Corporation Law of the State of Delaware)

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	COMMON STOCK
	 	ISIN:      USU1549T1098
	This is to certify that

	 	 	 	CUSIP:   U1549T 10 9
	 
	 	 	 	 
	Is/are the registered holder of	 	 

Common Stock, having par value of $0.0001 fully paid in Cross Shore Acquisition Corporation subject to
the Certificate of Incorporation and the By-laws of the Company

PRIOR TO INVESTING IN THE SECURITIES OR CONDUCTING ANY TRANSACTIONS IN THE SECURITIES, INVESTORS ARE ADVISED TO CONSULT PROFESSIONAL ADVISERS
REGARDING THE RESTRICTIONS ON TRANSFER SUMMARIZED BELOW AND ANY OTHER RESTRICTIONS.

THIS SECURITY(OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND IS A RESTRICTED SECURITY (AS DEFINED IN RULE 144 OF THE SECURITIES ACT).
THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. HEDGING TRANSACTIONS INVOLVING THIS SECURITY MAY NOT BE CONDUCTED DIRECTLY OR INDIRECTLY, UNLESS IN COMPLIANCE WITH THE SECURITIES ACT. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A OR REGULATION S
THEREUNDER.

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY
BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A (II) OUTSIDE OF THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT (III) PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (IV) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT. IN EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY
PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE,

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO TRANSFER RESTRICTIONS WHICH REQUIRE THAT IN ADDITION TO ANY CERTIFICATIONS REQUIRED FROM A TRANSFEROR AS SET FORTH ON THE REVERSE OF THIS CERTIFICATE, PRIOR TO THE EXPIRATION OF A DISTRIBUTION COMPLIANCE PERIOD OF AT LEAST ONE YEAR, THE TRANSFEREE CERTIFIES AS TO WHETHER OR NOT IT IS A U.S. PERSON WITHIN THE
MEANING OF REGULATION S AND MUST PROVIDE CERTAIN OTHER CERTIFICATIONS AND AGREEMENTS, PRIOR TO PERMITTING THE TRANSFER. THE COMPANY MAY REQUEST AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH
TRANSFER IS TO BE EFFECTED IN A TRANSACTION MEETING THE REQUIREMENTS OF REGULATION S UNDER THE SECURITIES ACT OR IS EXEMPT FROM REGISTRATION.

	 	 	 	 	 	 	 
	 

	 	Director
	 	Director
	 	 

No transfer of the shares (or any portion thereof) comprised in this certificate can be registered until this certificate has been lodged with the Company’s Registrars: Capita IRG (Offshore) Limited, Victoria Chambers, Liberation Square, 1/3 The Esplanade, St. Helier, Jersey JE2 3QA UK Transfer Agent: Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU

	 	 	 	 	 
	Certificate No.

	 	Lodging Agent Code
	 	 

CROSS SHORE ACQUISITION CORPORATION

To

 

Transfer Agent:

Capita Registrars

The Registry

34 Beckenham Road,

Beckenham, Kent BR3 4TU.

Telephone

               From UK:0870 162 3100

               From Overseas: +044) 208 639 2157

C984/01

 

 

This Common Stock Certificate and
the shares of common stock
represented hereby shall be held
subject to all of the provisions of
the Certificate of Incorporation and
the By-laws of the Company and any
amendments thereto, a copy of each
of which is on file at the office of
the Company and made a part hereof
as fully as though the provisions of
said Certificate of Incorporation
and By-laws were imprinted in full
on this Common Stock Certificate, to
all of which the holder of this
Common Stock Certificate, by
acceptance hereof, assents and
agrees to be bound. The Company
will furnish without charge to each
shareholder who so requests a copy
of the Certificate of Incorporation
and the By-laws of the Company.

In connection with any transfer of
this Common Stock Certificate to be
consummated prior to (i) the second
anniversary of the later of the date
the shares of Common Stock were
acquired from the Company or from an
affiliate of the Company (the “Two
Year 144 Anniversary”), if the
Holder has not been an affiliate of
the Company, or (ii) the later of
(x) the Two Year 144 Anniversary and
(y) three months after the Holder
ceases to be an affiliate, if the
Holder has been an affiliate of the
Company, the undersigned holder
certifies that (check one):

	 	 	 	 	 
	o

	 	(a)
	 	This Common Stock Certificate is being transferred to the Company.
	 
	 	 	 	 
	o

	 	(b)
	 	This Common Stock Certificate
is being transferred pursuant to an
effective registration statement
under the Securities Act and in
accordance with any applicable laws
of the United States and any state
of the United States.
	 
	 	 	 	 
	o

	 	(c)
	 	(i) This Common Stock
Certificate is being transferred in
an offshore transaction not subject
to the registration requirements of
the Securities Act, by virtue of
Regulation S thereunder; (ii) the
offer of the Common Stock was not
made to a person in the United
States; (iii)(A) at the time the
buy order was originated, the
Transferee was outside the United
States or the Holder and any person
acting on its behalf reasonably
believed that the Transferee was
outside the United States or (B) the
transaction is executed in, on or
through the facilities of the AIM
Marked operated by the London Stock
Exchange plc, an neither the Holder
nor any person acting on its behalf
knows that the transaction has been
pre-arranged with a buyer in the
United States: (iv) no directed
selling efforts have been made in
contravention of the requirement of
Regulation S; (v) the transaction is
not part of a plan or scheme to
evade the registration requirements
of the Securities Act; (vi) if
applicable, in the case of a
transfer by a Holder who is a dealer
or a person receiving a selling
concession, fee or other
remuneration in connection with such
transfer, such Holder has complied
with the additional conditions set
forth in Rule 904(b) of Regulation S,
and (vii) the Holder has complied
with all applicable additional
requirements imposed by Rule 903 of
Regulation S.
	 
	 	 	 	 
	o

	 	(d)
	 	This Common Stock Certificate
is being transferred pursuant to an
exemption from registration under
the Securities Act in compliance
with Rule 144, if applicable, under
the Securities Act and is in
accordance with applicable USstate
securities laws and in relation to
which the Holder has furnished to
the Company an opinion to such
effect from counsel of recognized
standing in form and substance
satisfactory to the Company prior to
such offer, sale, pledge or
transfer.
	 
	 	 	 	 
	o

	 	(e)
	 	This Common Stock Certificate
is being transferred to a person
whom the Holder reasonably believes
is a qualified institutional buyer
(as defined in Rule 144A under the
Securities Act) in a transaction
meeting the requirements of Rule
144A an is in accordance with
applicable US state securities laws.

In addition, in connection with any
transfer of this Common Stock
Certificate to be consummated prior
to one year after the later of (i)
the time when the shares of Common
Stock were first offered to persons
other than distributors in reliance
on Regulation S or (ii) the date of
closing of the offering of the
Common Stock, the undersigned Holder
certifies that (please check box):

	o	 	it has complied with all
additional requirements imposed by
Rule 903 of Regulation S, including
procuring a written declaration from
the transferee stating, among other
things, that (A) either (i) the
transferee is a US person and the
transaction is being conducted under
the exemption from registration
provided by Rule 144A under the
Securities Act or (ii) the
transferee is not a US person within
the meaning of Regulation S and (B)
the transferee agrees to be bound by
the provisions of Rule 903 of
Regulation S regarding resales and
hedging activities. A form of such
written declaration is available
from the Company’s Transfer Agent.

The Company may determine to extend
or shorten the certification periods
set forth above, or to modify the
form of the certificates, in each
case in accordance with applicable
law.

The Transfer Agent shall not be
obligated to register this Common
Stock Certificate in the name of any
person other than the Holder thereof
unless and until the conditions to
any such transfer or registration
set forth herein and on the face
hereof shall have been satisfied.

By:

Name:

Title:

The above signature shall not
constitute an endorsement of this
Common Certificate. Assignment and
transfer of this Common Stock
Certificate shall not be effected by
an endorsement on this certificate,
but by execution and deliver of a
separate stock transfer form, which
may be obtained from the Company’s
Transfer Agent.

Unless otherwise specified, terms
used in this certificate have the
meanings set forth in Regulation S.
Transferee and the Issuer are
entitled to rely upon this
certificate and are irrevocably
authorized to produce this
certificate or a copy hereof to any
interested party in any
administrative or legal proceeding
or official inquiry with respect to
the matters covered hereby.

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