Document:

Exhibit 4.21

 

SUPPLEMENTAL LETTER AGREEMENT

 

	
  From:

  	
   

  	
  The Royal Bank of Scotland plc

  
	
   

  	
   

  	
   

  
	
  To:

  	
   

  	
  Danaos Corporation

  
	
   

  	
   

  	
  Trust Company Complex

  
	
   

  	
   

  	
  Ajeltake Road

  
	
   

  	
   

  	
  Ajeltake Island

  
	
   

  	
   

  	
  Majuro

  
	
   

  	
   

  	
  Marshall Islands MH 96960

  

 

14 April 2010

 

Loan Agreement dated 20 February 2007
(as amended and supplemented, the “Loan Agreement”) made between (i) Danaos
Corporation (the “Borrower”), (ii) the banks and financial institutions
listed in Schedule 1 thereto as lenders and (iii) The Royal Bank of
Scotland plc as swap bank, issuing bank, agent and security trustee in respect
of a revolving credit facility of up to US$700,000,000.

 

1                                         BACKGROUND

 

1.1                               The Borrower and The Royal Bank of Scotland plc (in its various relevant capacities,
referred to below as “RBS”) wish to implement certain
matters as described in paragraph 3 below.

 

1.2                               A default has occurred under the Loan Agreement, specifically under Clause 9.1(e)(v) (which
constitutes an Event of Default under Clause 20.1(a) of the Loan
Agreement) and a potential default has occurred under Clause 9.9(b)(iv) of
the Loan Agreement.

 

1.3                               The rights of RBS in respect of the Event of Default and the potential
Event of Default respectively referred to in paragraph 1.2 above are hereby
expressly reserved (along with the rights of RBS in respect of any other Events
of Default or potential Events of Default, whether or not known to RBS) and the
entering into of this letter agreement shall not be, or be deemed to be, a
waiver by RBS of any of its rights. Such rights shall only be waived, if at
all, by the express agreement in writing of RBS.

 

2                                         DEFINTIONS

 

2.1                               In this letter agreement words and expressions defined in the Loan
Agreement shall have the same meaning.

 

2.2                               In addition the following words and expressions shall have the meanings set
out below:

 

“Cash Pledge No. 1”
means a Greek law pledge dated 29 July 2008
executed by the Borrower in favour of RBS in respect of the No. 1 Pledged
Account;

 

“Cash Pledge No. 2”
means a Greek law pledge dated 2 December 2008
executed by the Borrower in favour of RBS in respect of the No. 2 Pledged
Account;

 

 

“Cash Pledge No. 3”
means a Greek law pledge dated 19 October 2007
executed by the Borrower in favour of RBS in respect of the No. 3 Pledged
Account;

 

“Effective Date”
means the date on which the matters set out in
paragraph 3 below shall be implemented and come into effect, as evidenced by
the execution by RBS of the Effective Date Certificate (but not being a date
later than 9 April 2010, or such later date, if any, as RBS may agree in
writing);

 

“Effective Date
Certificate” means a certificate to be
executed by RBS subject to the terms and conditions of paragraph 4 below,
substantially in the form set out in Appendix A to this letter agreement;

 

“No. 1
Pledged Account” means an account of
the Borrower maintained with RBS, Piraeus branch, having account no. 577411 and
designated “RBS/Danaos Corporation US$700 million facility — Cash Deposit
Account”;

 

“No. 2
Pledged Account” means an account of
the Borrower maintained with RBS, Piraeus branch, having account no. 577411 and
designated “RBS/Danaos Corporation Swaps”;

 

“No. 3 Pledged Account” means
an account of the Borrower maintained with RBS, Piraeus branch, having account
no. 577411 and designated “RBS/Danaos Corporation plc”;

 

“Replacement
Security” means security for certain
of the obligations of the Borrower to RBS, secured, as at the date of this
letter agreement, by Cash Pledge No. 2 and Cash Pledge No. 3 (prior
to release of that security pursuant to the terms, and subject to the
conditions of, this letter agreement) to consist of:

 

(a)                                  a guarantee of each Owner;

 

(b)                                 a second priority or preferred mortgage in respect of each Mortgaged Ship
(and, on delivery, each ship which then becomes a Mortgaged Ship);

 

(c)                                  a second priority general assignment in respect of each Mortgaged Ship
(and, on delivery, each ship which then becomes a Mortgaged Ship); and

 

(d)                                 a second priority pre-delivery security assignment in respect of each
Approved Ship, Alternative Ship or Additional Approved Ship,

 

all
in such form as The Royal Bank of Scotland plc may approve or require;

 

“Shares Security”
means first priority security (by way of pledge
and/or charge, as applicable) to be granted by the shareholder of each Owner in
respect of the whole of the issued share capital of each Owner in favour of the
Security Trustee as security for the obligations of the Borrower under the
Finance Documents.

 

2.3                               With effect from the Effective Date all references in this letter agreement
to the Loan Agreement shall be to the Loan Agreement as amended and restated
pursuant to this letter agreement.

 

2.4                               The provisions of Clause 1.2 to 1.5 (inclusive) of the Loan Agreement shall
apply to this letter agreement with any consequential modifications.

 

3                                         IMPLEMENTATION

 

3.1                               The matters set out below in this paragraph 3 shall, subject to paragraph
4.2 below, be implemented and take effect on the Effective Date.

 

2

 

3.2                               The Borrower shall on the Effective Date, in order to reduce its debt service
costs under the Loan Agreement, apply all amounts standing to the credit of No. 1 Pledged Account, No. 2 Pledged
Account and No. 3 Pledged Account in prepaying Advances. In respect
of such prepayment it is agreed or acknowledged (as the case may be):

 

(a)                                  that the requirements of clause 9.6 of the Loan Agreement are hereby
waived;

 

(b)                                 that the requirement of clause 9.5 of the Loan Agreement for prepayment to
be made on the last day of an Interest Period applicable to the Advance prepaid
are hereby waived on condition that the Borrower, in accordance with clause
9.11(a) of the Loan Agreement, pays any sums payable under clause 22.1(b) of
the Loan Agreement;

 

(c)                                  that the amount prepaid shall be applied towards prepayment of Tranche B;

 

(d)                                 that the Borrower is permitted so to apply in prepayment amounts standing
to the credit of No. 1 Pledged
Account by virtue of the terms of the Loan Agreement (clause 4.9(c)(ii)) (as in
effect at the date of this letter agreement) and the terms of Cash Pledge No. 1;

 

(e)                                  that the Borrower is not, without the consent of RBS, permitted so to apply
in prepayment amounts standing to the credit of No. 2 Pledged Account and No. 3
Pledged Account but RBS is prepared to allow such amounts so to be applied in
prepayment subject to and upon the terms and conditions of this letter
agreement;

 

(f)                                    that Cash Pledge No. 1, Cash Pledge No. 2 and Cash Pledge No. 3,
respectively, secure (prior to the release of that security pursuant to the
terms, and subject to the conditions of, this letter agreement), inter alia,
the obligations of the Borrower under the Loan Agreement and the other Finance
Documents;

 

(g)                                 that on the Effective Date RBS shall release its security constituted by
Cash Pledge No. 1, Cash
Pledge No. 2 and Cash Pledge No. 3 in order to allow the matters
referred to above in this paragraph 3.2 to be implemented; and

 

(h)                                 that amounts prepaid pursuant to this paragraph 3.2 shall be available to
be re-drawn by the Borrower subject to and upon the terms and conditions of the
Loan Agreement as supplemented, amended and restated by this letter agreement.

 

3.3                               On or before the Effective Date the Borrower shall procure that the
shareholder of each Owner shall grant the Shares Security and shall procure the
satisfaction of, the applicable provisions of paragraph 4 below in respect of
the Shares Security.

 

4                                         CONDITIONS PRECEDENT

 

4.1                               The occurrence of the Effective Date, as evidenced by RBS’ execution of the
Effective Date Certificate, shall not occur until RBS has received the
following documents and evidence in form and substance satisfactory to it:

 

(a)                                  corporate authorities of the Borrower and the Owners and the shareholders
of the Owners respectively authorising the execution of this letter agreement
and the Shares Security;

 

(b)                                 the execution and delivery of the Shares Security, together with all items
required to be delivered pursuant to the terms of the Shares Security and any
required registrations, notices or other matters required pursuant to or in
connection with the Shares Security;

 

3

 

(c)                                  such legal opinions from lawyers appointed by RBS (in whatever applicable capacity)
as it shall require in respect of this letter agreement and the matters
referred to herein; and

 

(d)                                 evidence, by way of a certificate from the Borrower, that the
representations and warranties contained in paragraph 8 below are true and
correct as at the Effective Date.

 

4.2                               If RBS, in its discretion, executes the Effective Date Certificate
notwithstanding that it has not received certain of the documents and evidence
required to be delivered in accordance with paragraph 4.1 above, the Borrower
shall deliver, or procure the delivery of, the outstanding items within such
period as RBS shall specify, and failure to deliver the same within such
specified period shall constitute an Event of Default.

 

4.3                               Any agreement of RBS, pursuant to paragraph 4.2 above, to defer the date
for delivery of any of the documents or evidence required to be delivered in
accordance with paragraph 4.1 above until after the Effective Date shall not,
for the avoidance of doubt, result in the consideration provided by RBS (in
whatever applicable capacity) for the deferred documents or evidence being past
consideration.

 

5                                         RE-DRAWING

 

5.1                               It is
confirmed and agreed (including, without limitation, with reference to clause 4.9(c)(ii) of
the Loan Agreement as in effect at the date of this letter agreement) that the
amounts prepaid pursuant to this letter agreement may be re-drawn by the
Borrower for the purposes described in paragraph 5.2 below subject to and upon
the terms and conditions of the Loan Agreement and that such terms and
conditions include delivery of the documents described in Part B of
Schedule 3 or, as the case may be, Part C of Schedule 3 of the Loan
Agreement in form and substance satisfactory to the Agent and its lawyers in
respect of the applicable Approved Ship, Additional Approved Ship or
Alternative Ship, as the case may be.

 

5.2                               The purposes for which the amounts prepaid pursuant to this letter
agreement may be re-drawn by the Borrower are in outline as follows (as more
particularly set out in the amended and restated Loan Agreement to take effect
pursuant to this letter agreement):

 

(a)                                  to finance a portion of the remaining pre-delivery and delivery contract instalments
of the Alternative Ships (ie Sundong hull no. S4005 and Hanjin hull nos. N-219,
N-221 and N-222);

 

(b)                                 to finance all of the remaining pre-delivery and delivery contract
instalments of Additional Approved Ship A (ie Jiangnan hull no. H1022A); and

 

(c)                                  as to the balance available to be drawn (approximately $16 million) for
such purpose as RBS may approve (as more particularly set out in the amended
and restated Loan Agreement to take effect pursuant to this letter agreement).

 

6                                         AMENDMENT AND RESTATEMENT

 

6.1                               The Loan Agreement shall, as at the Effective Date, be amended and restated
in the form set out in Appendix B to this letter agreement (on condition that
it reflects accurately the provisions of this letter agreement and all previous
amendments of, or supplements to, the Loan Agreement, to the extent not
inconsistent with, or superceded by, this letter agreement), subject to such
minor

 

4

 

amendments,
including as may be necessary to correct manifest errors, as may be agreed
between RBS and the Borrower prior to or after the Effective Date. In the
absence of any such minor amendments, the Loan Agreement shall as at and from
the Effective Date take effect in the form set out in Appendix B to this letter
agreement.

 

6.2                               For the avoidance of doubt, the amendment and restatement of the Loan Agreement
is to give effect to amendments to the Loan Agreement and for ease of reference
and shall not constitute a novation of the Borrower’s obligations under the
Loan Agreement.

 

6.3                               The Borrower shall, at the request of RBS, on or after the Effective Date
promptly execute an original counterpart of the amended and restated Loan
Agreement in the form set out in Appendix B to this letter agreement, subject
to such minor amendments as may be agreed between RBS and the Borrower, prior
to or after the Effective Date. This paragraph 6.3 is without prejudice to the
operation of paragraph 6.1 above but any amended and restated version of the
Loan Agreement separately executed pursuant to this paragraph 6.3 shall take
precedence over the form attached to this letter agreement as Appendix B.

 

7                                         CONTINUED EFFECT

 

7.1                               Save as expressly amended by or pursuant to the terms of this letter
agreement, the Finance Documents shall continue in full force and effect and
all security constituted by the Finance Documents shall continue to secure the
obligations expressed to be secured thereby as such obligations may have been
amended and/or supplemented and/or restated by or pursuant to the terms of this
letter agreement.

 

7.2                               With effect from the Effective Date all references in the Finance Documents
to the Loan Agreement shall be read and construed as references to the Loan
Agreement as supplemented and/or amended and/or restated pursuant to this
letter agreement.

 

8                                         REPRESENTATIONS AND WARRANTIES

 

8.1                               The Borrower represents and warrants to RBS (in whatever applicable
capacity) as follows:

 

(a)                                  the Borrower and each Owner has the corporate capacity and has taken, or
will by the Effective Date have taken, all corporate action and obtained all
consents necessary for the execution and delivery of this letter agreement and
the implementation of the matters referred to herein;

 

(b)                                 the execution by the Borrower and each Owner of this letter agreement and
the implementation of the matters referred to herein will not involve or lead
to a contravention of:

 

(i)                                     any law or regulation;

 

(ii)                                  the constitutional documents of the Borrower or any Owner; or

 

(iii)                               any contractual or other obligation which is binding on the Borrower or any
Owner.

 

8.2                               The representations and warranties contained in paragraph 8.1 above shall
be restated as at the Effective Date by reference to the facts and
circumstances then applicable.

 

5

 

9                                         REPLACEMENT SECURITY

 

9.1                               Each Owner shall execute and where applicable register, and the Borrower
shall procure that each Owner shall execute and where applicable register, the
Replacement Security by not later than the earlier of:

 

(i)                                     the date falling 60 days after the date of this letter agreement; and 

 

(ii)                                  any date on which the Borrower enters into a comprehensive debt
restructuring agreement with its major bank creditors.

 

In
connection with the execution and registration of the Replacement Security the
Borrower shall procure that there is delivered to RBS such corporate
authorities and legal opinions as RBS shall approve or require.

 

10                                  MISCELLANEOUS

 

10.1                        The provisions of clause 29 (Notices) of the Loan Agreement shall apply as
if they were expressly incorporated herein.

 

10.2                        No-one who is not a party to this letter agreement shall have any rights
under it by reason of the Contracts (Rights of Third Parties) Act 1999.

 

10.3                        This letter agreement may be executed in any number of counterparts.

 

10.4                        If any provision of this letter agreement, or the matters to be implemented
pursuant to its terms, is or subsequently becomes void, unenforceable or
illegal under any applicable law, that shall not affect the validity,
enforceability or legality of the other provisions of this letter agreement, or
the matters to be implemented pursuant to its terms.

 

10.5                        Without prejudice to the provisions of Clause 21 of the Loan Agreement, the
Borrower shall on demand pay to RBS the amount of all expenses incurred by RBS
in connection with this letter agreement and its implementation in excess of
£5,000.

 

10.6                        This letter agreement, and any non-contractual obligations arising under
it, shall be governed by and construed in accordance with English law and the
provisions of clause 35 (Law and Jurisdiction) of the Loan Agreement shall
apply to this letter agreement as if they were expressly incorporated herein.

 

10.7                        This letter agreement is agreed to be a Finance Document for all purposes
of the Loan Agreement.

 

Please confirm your
acceptance to the foregoing terms and conditions by signing the acceptance and
acknowledgement below.

 

 

	
  Yours faithfully

  	
   

  
	
   

  	
   

  
	
  /s/ A. Rodopoulos

  	
   

  
	
  A. RODOPOULOS

  	
   

  
	
  for
  and on behalf of

  	
   

  
	
  THE ROYAL BANK OF SCOTLAND plc

  	
   

  
	
  (in
  all relevant capacities)

  	
   

  

 

6

 

We hereby acknowledge receipt of the above
letter, confirm our agreement to the terms of the same and hereby undertake to
be bound thereby

 

 

	
  /s/ I. Prokopakis 

  	
   

  	
  /s/ D. Andritsoyiannis

  	
   

  
	
  I. PROKOPAKIS 

  	
   

  	
  D. ANDRITSOYIANNIS

  	
   

  
	
  for
  and on behalf of

  	
   

  
	
  DANAOS CORPORATION

  	
   

  

 

Date:  14 April 2010

 

We hereby confirm and
acknowledge that we have read and understood the terms and conditions of the
above letter agreement and agree in all respects to comply with and implement
the applicable provisions of the same and confirm that the Finance Documents to
which we are a party shall remain in full force and effect and shall continue
to stand as security for the obligations of the Borrower under the Loan
Agreement (as amended and/or supplemented and/or restated by or pursuant to the
terms of the said letter agreement) 

 

 

	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  FEDERAL MARINE INC.

  	
   

  	
  BOXCARRIER (NO. 5) CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  CELLCONTAINER (NO. 1) CORP.

  	
   

  	
  CELLCONTAINER (NO. 3) CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  TEUCARRIER (NO. 5) CORP.

  	
   

  	
  MEGACARRIER (NO. 1) CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  MEGACARRIER (NO. 2) CORP.

  	
   

  	
  MEGACARRIER (NO. 3) CORP.

  

 

7

 

	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  MEGACARRIER (NO. 4) CORP.

  	
   

  	
  MEGACARRIER (NO. 5) CORP

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  CELLCONTAINER (NO. 4) CORP.

  	
   

  	
  SPEEDCARRIER (NO. 7) CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  CELLCONTAINER (NO. 6) CORP.

  	
   

  	
  SPEEDCARRIER (NO. 6) CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for
  and on behalf of

  	
   

  	
  for and on behalf of

  
	
  SPEEDCARRIER (NO. 8) CORP.

  	
   

  	
  CONTINENT MARINE INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:    14 April 2010

  	
   

  	
   

  

 

8

 

APPENDIX A

 

	
  From:

  	
   

  	
  The
  Royal Bank of Scotland plc

  
	
   

  	
   

  	
   

  
	
  To:

  	
   

  	
  Danaos
  Corporation

  
	
   

  	
   

  	
  Trust
  Company Complex

  
	
   

  	
   

  	
  Ajeltake
  Road

  
	
   

  	
   

  	
  Ajeltake
  Island

  
	
   

  	
   

  	
  Majuro

  
	
   

  	
   

  	
  Marshall
  Islands MH 96960

  

 

[·]
2010

 

Supplemental Letter Agreement dated [·] 2010 (the “Letter Agreement”)

 

We refer to the
Letter Agreement. Words and expressions defined in the Letter Agreement have
the same meanings when used herein.

 

This is the Effective
Date Certificate and we hereby confirm that the Effective Date is [·]
2010.

 

 

	
  Yours
  faithfully

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  for
  and on behalf of

  	
   

  
	
  THE ROYAL BANK OF SCOTLAND plc

  	
   

  

 

9

 

APPENDIX B

 

[Amended and Restated Loan Agreement]

 

10Striker Energy Corp.: Exhibit 10.1 - Filed by newsfilecorp.com

NONE OF THE SHARES TO WHICH THIS SUBSCRIPTION AGREEMENT
RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT OR ANY U.S. STATE SECURITIES
LAWS AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR
INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT
IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SHARES
MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.

PRIVATE PLACEMENT SUBSCRIPTION 

  FOR U.S. ACCREDITED INVESTORS
ONLY

STRIKER ENERGY CORP.

PRIVATE PLACEMENT

INSTRUCTIONS TO SUBSCRIBER:

	1. 	
      COMPLETE the information on page 11 of this
      Subscription Agreement.

	 	 
	2. 	
      COMPLETE the Questionnaires attached as Schedule
      A-1 and A-2 to this Subscription Agreement (collectively, the
      "Questionnaire").

	 	 
	3. 	
      DELIVER the Subscription Proceeds, in the form of
      cash, bank draft or wire transfer (wire transfer instructions will be
      provided upon request), together with one originally executed copy of this
      entire Subscription Agreement (including the Questionnaire), to Striker
      Energy Corp., at

     Striker Energy Corp. 
360
Bay Street, Suite 901 
Toronto, Ontario M5H 2V6
Attention: Sean
Lowry

	4. 	
      FAX a copy of Page 11 of this Subscription
      Agreement, and all pages of the Questionnaire to Striker Energy Corp.,
      attention Sean Lowry at (416) 352-5239.

	 	 
		
      If you have any questions please contact Sean Lowry at: 1
      (416) 489-0093.

Page 2 of 19

NONE OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT
RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES
LAWS, AND, AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS.

PRIVATE PLACEMENT SUBSCRIPTION
(U.S. Accredited
Investors Only)

	TO: 	STRIKER ENERGY CORP. (the
      "Company") 
	  	360 Bay Street, Suite 901 
	  	Toronto, Ontario M5H 2V6 
	  	Canada 

Purchase of Shares

1. SUBSCRIPTION

1.1 The undersigned (the "Subscriber") hereby
irrevocably subscribes for and agrees to purchase the number of shares of the
Company's common stock (the "Shares") as set out on page 11 of this
Subscription Agreement at a price of US$0.20 per common share (such
subscription and agreement to purchase being the "Subscription"), for the
total subscription price as set out on page 11 of this Subscription Agreement
(the "Subscription Proceeds"), which Subscription Proceeds are tendered
herewith, on the basis of the representations and warranties and subject to the
terms and conditions set forth herein.

1.2 The Company hereby agrees to sell the Shares to the
Subscriber on the basis of the representations and warranties and subject to the
terms and conditions set forth herein. Subject to the terms hereof, the
Subscription Agreement will be effective upon its acceptance by the Company.

1.3 Unless otherwise provided, all dollar amounts referred to
in this Subscription Agreement are in lawful money of the United States of
America.

2. PAYMENT

2.1 The Subscription Proceeds must accompany this Subscription
Agreement or they must be wired directly to the Company in accordance with wire
instructions that will be provided by the Company on request.

2.2 The Company may treat the Subscription Proceeds as a
non-interest bearing loan and may use the Subscription Proceeds prior to this
Subscription Agreement being accepted by the Company.

2.3 The Subscriber must complete, sign and return to the
Company an executed copy of this Subscription Agreement, the Canadian
Questionnaire attached hereto as Schedule A-1 and the U.S. Accredited Investor
Questionnaire attached hereto as Schedule A-2 (collectively, the
“Questionnaire”) and any other schedules attached hereto.

Page 3 of 19

2.4 The Subscriber shall complete, sign and return to the
Company as soon as possible, on request by the Company, any documents,
questionnaires, notices and undertakings as may be required by regulatory
authorities, stock exchanges and applicable law.

3. CLOSING

3.1 Closing of the purchase and sale of the Shares shall occur
on or before June 30, 2010, or on such other date as may be determined by
the Company in its sole discretion (the "Closing Date"), but there is no
minimum or maximum number of shares being offered. The Subscriber acknowledges
that shares may be issued to other subscribers under this offering (the
"Offering"), and that these may close before, on or after the Closing
Date.

4. ACKNOWLEDGEMENTS OF SUBSCRIBER

4.1 The Subscriber acknowledges and agrees that:

	 	(a) 	
      the Shares have not been registered under the U.S.
      Securities Act of 1933, as amended (the "1933 Act"), or under any
      securities or "blue sky" laws of any state of the United States and are
      being offered only in a transaction not involving any public offering
      within the meaning of the 1933 Act, and, unless so registered, may not be
      offered or sold in the United States or to a U.S. Person, as that term is
      defined in Regulation “S” (“Regulation “S”) promulgated by the
      Securities and Exchange Commission (the “SEC”) pursuant to the 1933
      Act, except pursuant to an effective registration statement under the 1933
      Act, or pursuant to an exemption from, or in a transaction not subject to,
      the registration requirements of the 1933 Act, and in each case only in
      accordance with applicable state and provincial securities laws;

	 	 	 
	 	(b) 	
      the Company will refuse to register any transfer of the
      Shares not made in accordance with the provisions of Regulation S,
      pursuant to an effective registration statement under the 1933 Act or
      pursuant to an available exemption from, or in a transaction not subject
      to, the registration requirements of the 1933 Act;

	 	 	 
	 	(c) 	
      by completing the Questionnaire, the Subscriber is
      representing and warranting that the Subscriber satisfies one of the
      categories of registration and prospectus exemptions provided in National
      Instrument 45-106 ("NI 45-106") adopted by the Ontario Securities
      Commission (the "OSC") and that the Subscriber is an ‘accredited
      investor’ in the United States, as that term is defined in Rule 501 of
      Regulation D, promulgated under the 1933 Act;

	 	 	 
	 	(d) 	
      the decision to execute this Subscription Agreement and
      purchase the Shares has not been based upon any oral or written
      representation as to fact or otherwise made by or on behalf of the Company
      and such decision is based solely upon information provided by the Company
      in this document (the "Company Information").

	 	 	 
	 	(e) 	
      the Subscriber and the Subscriber's advisor(s) have had a
      reasonable opportunity to review the Company Information and to ask
      questions of and receive answers from the Company regarding the Offering,
      and to obtain additional information, to the extent possessed or
      obtainable without unreasonable effort or expense, necessary to verify the
      accuracy of the information contained in the Company Information, or any
      other document provided to the Subscriber;

	 	 	 
	 	(f) 	
      by execution hereof the Subscriber has waived the need
      for the Company to communicate its acceptance of the purchase of the
      Shares pursuant to this Subscription
Agreement;

Page 4 of 19

	 	(g) 	
      the Company is entitled to rely on the representations
      and warranties and the statements and answers of the Subscriber contained
      in this Subscription Agreement and the Questionnaire and the Subscriber
      will hold harmless the Company from any loss or damage it may suffer as a
      result of the Subscriber's failure to correctly complete this Subscription
      Agreement and the Questionnaire;

	 	 	 	 
	 	(h) 	
      the Subscriber will indemnify and hold harmless the
      Company and, where applicable, its respective directors, officers,
      employees, agents, advisors and shareholders from and against any and all
      loss, liability, claim, damage and expense whatsoever (including, but not
      limited to, any and all fees, costs and expenses whatsoever reasonably
      incurred in investigating, preparing or defending against any claim,
      lawsuit, administrative proceeding or investigation whether commenced or
      threatened) arising out of or based upon any acknowledgment,
      representation or warranty of the Subscriber contained herein, the
      Questionnaire or in any other document furnished by the Subscriber to the
      Company in connection herewith, being untrue in any material respect or
      any breach or failure by the Subscriber to comply with any covenant or
      agreement made by the Subscriber to the Company in connection
      therewith;

	 	 	 	 
	 	(i) 	
      the issuance and sale of the Shares to the Subscriber
      will not be completed if it would be unlawful or if, in the discretion of
      the Company acting reasonably, it is not in the best interests of the
      Company;

	 	 	 	 
	 	(j) 	
      the Subscriber has been advised to consult the
      Subscriber’s own legal, tax and other advisors with respect to the merits
      and risks of an investment in the Shares and with respect to the
      applicable resale restrictions, and it is solely responsible (and the
      Company is not in any way responsible) for compliance with:

	 	 	 	 
			(i) 	
      any applicable laws of the jurisdiction in which the
      Subscriber is resident in connection with the distribution of the Shares
      hereunder, and

	 	 	 	 
			(ii) 	
      applicable resale restrictions;

	 	 	 	 
	 	(k) 	
      the Company has advised the Subscriber that the Company
      is relying on an exemption from the requirements to provide the Subscriber
      with a prospectus and to sell the Shares through a person registered to
      sell securities under the Securities Act (Ontario) (the “Ontario
      Act”) and, as a consequence of acquiring the Shares pursuant to this
      exemption, certain protections, rights and remedies provided by the
      Ontario Act, including statutory rights of rescission or damages, will not
      be available to the Subscriber;

	 	 	 	 
	 	(l) 	
      the Shares are not listed on any stock exchange or
      automated dealer quotation system and no representation has been made to
      the Subscriber that any of the Shares will become listed on any stock
      exchange or automated dealer quotation system;

	 	 	 	 
	 	(m) 	
      neither the SEC, nor any other securities regulatory
      authority has reviewed or passed on the merits of the Shares;

	 	 	 	 
	 	(n) 	
      no documents in connection with this Offering have been
      reviewed by the SEC, nor by any other state securities
    administrators;

	 	 	 	 
	 	(o) 	
      there is no government or other insurance covering any of
      the Shares; and

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

Page 5 of 19

5. REPRESENTATIONS, WARRANTIES AND COVENANTS OF
THE SUBSCRIBER

5.1 The Subscriber hereby represents and warrants to and
covenants with the Company (which representations, warranties and covenants
shall survive the Closing Date) that:

	 	(a) 	
      the Subscriber is an accredited investor (as defined in
      Rule 501 of Regulation D promulgated under the 1933 Act);

	 	 	 	 	 
	 	(b) 	
      the Subscriber is resident in the jurisdiction set out on
      page 11 of this Subscription Agreement;

	 	 	 	 	 
	 	(c) 	
      the Subscriber:

	 	 	 	 	 
	 		(i) 	
      is knowledgeable of, or has been independently advised as
      to, the applicable securities laws of the securities regulators having
      application in the jurisdiction in which the Subscriber is resident (the
      “International Jurisdiction”) which would apply to the acquisition
      of the Shares,

	 	 	 	 	 
	 		(ii) 	
      is purchasing the Shares pursuant to exemptions from
      prospectus or equivalent requirements under applicable securities laws or,
      if such is not applicable, the Subscriber is permitted to purchase the
      Shares under the applicable securities laws of the securities regulators
      in the International Jurisdiction without the need to rely on any
      exemptions,

	 	 	 	 	 
	 		(iii) 	
      acknowledges that the applicable securities laws of the
      authorities in the International Jurisdiction do not require the Company
      to make any filings or seek any approvals of any kind whatsoever from any
      securities regulator of any kind whatsoever in the International
      Jurisdiction in connection with the issue and sale or resale of the
      Shares, and

	 	 	 	 	 
	 		(iv) 	
      represents and warrants that the acquisition of the
      Shares by the Subscriber does not trigger:

	 	 	 	 	 
	 			A. 	
      any obligation to prepare and file a prospectus or
      similar document, or any other report with respect to such purchase in the
      International Jurisdiction, or

	 	 	 	 	 
	 			B. 	
      any continuous disclosure reporting obligation of the
      Company in the International Jurisdiction, and

	 	 	 	 	 
	 			
      the Subscriber will, if requested by the Company, deliver
      to the Company a certificate or opinion of local counsel from the
      International Jurisdiction which will confirm the matters referred to in
      subparagraphs (ii), (iii) and (iv) above to the satisfaction of the
      Company, acting reasonably;

	 	 	 	 	 
	 	(d) 	
      the Subscriber is acquiring the Shares as principal for
      investment only and not with a view to, or for, resale, distribution or
      fractionalization thereof, in whole or in part, and, in particular, it has
      no intention to distribute either directly or indirectly any of the Shares
      in the United States or to U.S. Persons (as defined in Regulation S
      promulgated under the 1933 Act);

	 	 	 	 	 
	 	(e) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Subscription Agreement and to take all actions
      required pursuant hereto and, if the Subscriber is a corporation, it is
      duly incorporated and validly subsisting under the laws of its
      jurisdiction of incorporation and all necessary approvals by its
      directors, shareholders and others have been obtained to authorize
      execution and performance of this Subscription Agreement on behalf of the
      Subscriber;

Page 6 of 19

	 	(f) 	
      the entering into of this Subscription Agreement and the
      transactions contemplated hereby do not result in the violation of any of
      the terms and provisions of any law applicable to, or, if applicable, the
      constating documents of, the Subscriber, or of any agreement, written or
      oral, to which the Subscriber may be a party or by which the Subscriber is
      or may be bound;

	 	 	 
	 	(g) 	
      the Subscriber has duly executed and delivered this
      Subscription Agreement and it constitutes a valid and binding agreement of
      the Subscriber enforceable against the Subscriber;

	 	 	 
	 	(h) 	
      the Subscriber has received and carefully read this
      Subscription Agreement;

	 	 	 
	 	(i) 	
      the Subscriber (i) has adequate net worth and means of
      providing for its current financial needs and possible personal
      contingencies, (ii) has no need for liquidity in this investment, and
      (iii) is able to bear the economic risks of an investment in the Shares
      for an indefinite period of time, and can afford the complete loss of such
      investment;

	 	 	 
	 	(j) 	
      the Subscriber has the degree of knowledge, education and
      experience in financial and business matters as to enable the Subscriber
      to evaluate the merits and risks of the investment in the Shares and the
      Company, and the Subscriber is providing evidence of knowledge and
      experience in these matters through the information requested in the
      Questionnaire;

	 	 	 
	 	(k) 	
      the Subscriber understands and agrees that the Company
      and others will rely upon the truth and accuracy of the acknowledgements,
      representations, warranties, covenants and agreements contained in this
      Subscription Agreement and the Questionnaire, and agrees that if any of
      such acknowledgements, representations and agreements are no longer
      accurate or have been breached, the Subscriber shall promptly notify the
      Company;

	 	 	 
	 	(l) 	
      the Subscriber is aware that an investment in the Company
      is speculative and involves certain risks, including the possible loss of
      the investment;

	 	 	 
	 	(m) 	
      the Subscriber is purchasing the Shares for its own
      account for investment purposes only and not for the account of any other
      person and not for distribution, assignment or resale to others, and no
      other person has a direct or indirect beneficial interest is such Shares,
      and the Subscriber has not subdivided his interest in the Shares with any
      other person;

	 	 	 
	 	(n) 	
      the Subscriber is not an underwriter of, or dealer in,
      the shares of the Company's common stock, nor is the Subscriber
      participating, pursuant to a contractual agreement or otherwise, in the
      distribution of the Shares;

	 	 	 
	 	(o) 	
      the Subscriber has made an independent examination and
      investigation of an investment in the Shares and the Company and has
      depended on the advice of its legal and financial advisors and agrees that
      the Company will not be responsible in anyway whatsoever for the
      Subscriber's decision to invest in the Shares and the Company;

	 	 	 
	 	(p) 	
      if the Subscriber is acquiring the Shares as a fiduciary
      or agent for one or more investor accounts, the Subscriber has sole
      investment discretion with respect to each such account, and the
      Subscriber has full power to make the foregoing acknowledgements,
      representations and agreements on behalf of such account;

	 	 	 
	 	(q) 	
      the Subscriber is not aware of any advertisement of any
      of the Shares and is not acquiring the Shares as a result of any form of
      general solicitation or general advertising including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any
      seminar or meeting whose attendees have been invited by general
      solicitation or general advertising;

Page 7 of 19

	 	(r) 	
      no person has made to the Subscriber any written or oral
      representations:

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase any of the
      Shares,

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of any of
      the Shares,

	 	 	 	 
	 		(iii) 	
      as to the future price or value of any of the Shares,
      or

	 	 	 	 
	 		(iv) 	
      that any of the Shares will be listed and posted for
      trading on any stock exchange or automated dealer quotation system or that
      application has been made to list and post any of the Shares of the
      Company on any stock exchange or automated dealer quotation system;
    and

	 	 	 	 
	 	(s) 	
      the Subscriber acknowledges and agrees that the Company
      shall not consider the Subscriber's Subscription for acceptance unless the
      undersigned provides to the Company, along with an executed copy of this
      Subscription Agreement:

	 	 	 	 
	 		(i) 	
      a fully completed and executed Questionnaire in the forms
      attached hereto as Schedule A-1 and A-2, and

	 	 	 	 
	 		(ii) 	
      such other supporting documentation that the Company or
      its legal counsel may request to establish the Subscriber's qualification
      as a qualified investor.

5.2 In this Subscription Agreement, the term "U.S. Person"
shall have the meaning ascribed thereto in Regulation S promulgated under the
1933 Act and for the purpose of the Subscription Agreement includes any person
in the United States.

6. ACKNOWLEDGEMENT AND WAIVER

6.1 The Subscriber has acknowledged that the decision to
purchase the Shares was made based solely on the Company Information. The
Subscriber hereby waives, to the fullest extent permitted by law, any rights of
withdrawal, rescission or compensation for damages to which the Subscriber might
be entitled in connection with the distribution of any of the Shares.

7. REPRESENTATIONS AND WARRANTIES WILL BE RELIED
UPON BY THE COMPANY

7.1 The Subscriber acknowledges that the acknowledgements,
representations and warranties contained herein and in the Questionnaire are
made by it with the intention that they may be relied upon by the Company and
its legal counsel in determining the Subscriber's eligibility to purchase the
Shares under applicable securities legislation, or (if applicable) the
eligibility of others on whose behalf it is contracting hereunder to purchase
the Shares under applicable securities legislation. The Subscriber further
agrees that by accepting delivery of the certificates representing the Shares,
it will be representing and warranting that the acknowledgements representations
and warranties contained herein and in the Questionnaire are true and correct as
of the date hereof and will continue in full force and effect notwithstanding
any subsequent disposition by the Subscriber of such Shares.

Page 8 of 19

8. RESALE RESTRICTIONS

8.1 The Subscriber acknowledges that any resale of the Shares
will be subject to resale restrictions contained in the securities legislation
applicable to the Subscriber or proposed transferee. The Subscriber acknowledges
that the Shares have not been registered under the 1933 Act or the securities
laws of any state of the United States. The Shares may not be offered or sold in
the United States unless registered in accordance with federal securities laws
and all applicable state securities laws or exemptions from such registration
requirements are available and the Subscriber covenants that it will comply with
applicable securities laws if the Subscriber offers to sell or sells the
Shares.

8.2 The Subscriber acknowledges that the Shares are subject to
resale restrictions in Canada and may not be traded in Canada except as
permitted by the Ontario Act and the rules made thereunder.

8.3 Pursuant to National Instrument 45-102 (“NI
45-102”), as adopted by the OSC, a subsequent trade in the Shares will be a
distribution subject to the prospectus and registration requirements of
applicable Canadian securities legislation (including the Ontario Act) unless
certain conditions are met, which conditions include the requirement that the
hold period mandated pursuant to NI 45-102 (the "Canadian Hold Period")
that shall have elapsed from the date on which the Shares were issued to the
Subscriber and, during the currency of the Canadian Hold Period, any certificate
representing the Shares is to be imprinted with a restrictive legend (the
"Canadian Legend").

8.4 By executing and delivering this Subscription Agreement,
the Subscriber will have directed the Company not to include the Canadian Legend
on any certificates representing the Shares to be issued to the Subscriber.

8.5 As a consequence, the Subscriber may not be able to rely on
the resale provisions of NI 45-102, and any subsequent trade in any of the
Shares during or after the Canadian Hold Period may be a distribution subject to
the prospectus and registration requirements of Canadian securities legislation,
to the extent that the trade is at that time subject to any such Canadian
securities legislation.

8.6 No Shares of any class of the Company shall be transferred
without the approval of the directors, provided that approval of any transfer of
Shares may be given as aforesaid after the transfer has been effected upon the
records of the Company, in which event, unless the said approval stipulates
otherwise, the said transfer shall be valid and shall take effect as from the
date of its very entry upon the books of the Company. This covenant shall
survive the Closing.

9. COLLECTION OF PERSONAL INFORMATION

9.1 The Subscriber acknowledges and consents to the fact that
the Company is collecting the Subscriber's personal information for the purpose
of fulfilling this Subscription Agreement and completing the Offering. The
Subscriber's personal information (and, if applicable, the personal information
of those on whose behalf the Subscriber is contracting hereunder) may be
disclosed by the Company to (a) stock exchanges or securities regulatory
authorities, (b) the Company's registrar and transfer agent, (c) Canadian tax
authorities, (d) authorities pursuant to the Proceeds of Crime (Money
Laundering) and Terrorist Financing Act (Canada) and (e) any of the other
parties involved in the Offering, including legal counsel, and may be included
in record books in connection with the Offering. By executing this Subscription
Agreement, the Subscriber is deemed to be consenting to the foregoing
collection, use and disclosure of the Subscriber's personal information (and, if
applicable, the personal information of those on whose behalf the Subscriber is
contracting hereunder) and to the retention of such personal information for as
long as permitted or required by law or business practice. Notwithstanding that
the Subscriber may be purchasing Shares as agent on behalf of an undisclosed
principal, the Subscriber agrees to provide, on request, particulars as to the
identity of such undisclosed principal as may be required by the Company in
order to comply with the foregoing.

Page 9 of 19

Furthermore, the Subscriber is hereby notified that:

	 	(a) 	
      the Corporation may deliver to the Ontario Securities
      Commission and/or the SEC certain personal information pertaining to the
      Subscriber, including such Subscriber’s full name, residential address and
      telephone number, the number of shares or other securities of the
      Corporation owned by the Subscriber, the number of Units purchased by the
      Subscriber and the total purchase price paid for such Units, the
      prospectus exemption relied on by the Corporation and the date of
      distribution of the Units,

	 	 	 
	 	(b) 	
      such information is being collected indirectly by the
      Ontario Securities Commission under the authority granted to it in
      securities legislation,

	 	 	 
	 	(c) 	
      such information is being collected for the purposes of
      the administration and enforcement of the securities legislation of
      Ontario, and

	 	 	 
	 	(d) 	
      the Subscriber may contact the following public official
      in Ontario with respect to questions about the Ontario Securities
      Commission’s indirect collection of such information at the following
      address and telephone number:

	 	 	 
	 		
      Administrative Assistant to the Director of Corporate
      Finance Ontario Securities Commission Suite 1903, Box 55, 20 Queen Street
      West Toronto, Ontario, M5H 3S8 Telephone: (416)
593-8086

10. COSTS

10.1 The Subscriber acknowledges and agrees that all costs and
expenses incurred by the Subscriber (including any fees and disbursements of any
special counsel retained by the Subscriber) relating to the purchase of the
Shares shall be borne by the Subscriber.

11. GOVERNING LAW

11.1 This Subscription Agreement is governed by the laws of the
State of Nevada. The Subscriber, in its personal or corporate capacity and, if
applicable, on behalf of each beneficial purchaser for whom it is acting,
irrevocably attorns to the exclusive jurisdiction of the Courts of the State of
Nevada.

12. SURVIVAL

12.1 This Subscription Agreement, including without limitation
the representations, warranties and covenants contained herein, shall survive
and continue in full force and effect and be binding upon the parties hereto
notwithstanding the completion of the purchase of the Shares by the Subscriber
pursuant hereto.

13. ASSIGNMENT

13.1 This Subscription Agreement is not transferable or
assignable.

14. SEVERABILITY

14.1 The invalidity or unenforceability of any particular
provision of this Subscription Agreement shall not affect or limit the validity
or enforceability of the remaining provisions of this Subscription
Agreement.

Page 10 of 19

15. ENTIRE AGREEMENT

15.1 Except as expressly provided in this Subscription
Agreement and in the agreements, instruments and other documents contemplated or
provided for herein, this Subscription Agreement contains the entire agreement
between the parties with respect to the sale of the Shares and there are no
other terms, conditions, representations or warranties, whether expressed,
implied, oral or written, by statute or common law, by the Company or by anyone
else.

16. NOTICES

16.1 All notices and other communications hereunder shall be in
writing and shall be deemed to have been duly given if mailed or transmitted by
any standard form of telecommunication. Notices to the Subscriber shall be
directed to the address on page 11 and notices to the Company shall be directed
to it at the address stated on the first page of this Subscription
Agreement.

17. COUNTERPARTS AND ELECTRONIC MEANS

17.1 This Subscription Agreement may be executed in any number
of counterparts, each of which, when so executed and delivered, shall constitute
an original and all of which together shall constitute one instrument. Delivery
of an executed copy of this Subscription Agreement by electronic facsimile
transmission or other means of electronic communication capable of producing a
printed copy will be deemed to be execution and delivery of this Subscription
Agreement as of the date hereinafter set forth.

Page 11 of 19

IN WITNESS WHEREOF the Subscriber has duly executed this
Subscription Agreement as of the date hereinafter set forth.

DELIVERY AND REGISTRATION INSTRUCTIONS

	1. 	Delivery - please make deliveries to the
      following address: 
	 	 
	 	 
	  	(name) 
	 	 
	 	 
	  	(address) 
	 	 
	2. 	Registration - registration of the Shares
      should be made as follows: 
	 	 
	 	 
	  	(name) 
	 	 
	 	 
	  	(address) 
	 	 
	3. 	
      The undersigned hereby acknowledges that he or she will
      deliver to the Company all such additional completed forms in respect of
      the Subscriber's purchase of the Shares as may be required for filing with
      the appropriate securities regulatory authorities.

	 	(Name of Subscriber – Please type or print) 	 	(Address of Subscriber) 
	 	 	 	 
	 	 	 	 
	 	(Name of Signatory and Office, if for a body corporate –
      Please type or print) 	 	(City, State, and Zip Code of Subscriber)

	 	 	 	 
	 	 	 	 
	 	(Signature) 	 	(Country of Subscriber) 
	 	 	 	 
	 	 	 	 
	 	(Number of Shares to be Purchased) 	 	(Fax Number) 
	 	 	 	 
	 	 	 	 
	 	(Total Subscription Price) 	 	(Email Address) 

Page 12 of 19

A C C E P T A N C E

The above-mentioned Subscription Agreement in respect of the
Shares is hereby accepted by STRIKER ENERGY CORP.

DATED at Toronto, Ontario, the _____day of__________________,
2010.

STRIKER ENERGY CORP.

Per: _______________
      
JOSEPH CARUSONE

SCHEDULE A-1

CANADIAN QUESTIONNAIRE

All capitalized terms herein, unless otherwise defined, have
the meanings ascribed thereto in the Subscription Agreement.

The purpose of this Questionnaire is to assure the Company that
the Subscriber will meet certain requirements of National Instrument 45-106
("NI 45-106"). The Company will rely on the information contained in this
Questionnaire for the purposes of such determination.

The Subscriber covenants, represents and warrants to the
Company that:

	 	1. 	
      the Subscriber has such knowledge and experience in
      financial and business matters as to be capable of evaluating the merits
      and risks of the transactions detailed in the Subscription Agreement and
      the Subscriber is able to bear the economic risk of loss arising from such
      transactions;

	 	 	 
	 	2. 	
      the Subscriber is (tick one or more of the following
      boxes):

	 	 	 
	 		(A) 	
      a director, executive officer, employee or control person
      of the Company or an affiliate of the Company
	 [   ]
	 	 	 	 	 
	 		(B) 	
      a spouse, parent, grandparent, brother, sister or child
      of a director, executive officer, founder or control person of the Company
      or an affiliate of the Company
	  [   ]
	 	 	 	 	 
	 		(C) 	
      a parent, grandparent, brother, sister or child of the
      spouse of a director, executive officer, founder or control person of the
      Company or an affiliate of the Company
	  [   ]
	 	 	 	 	 
	 		(D) 	
      a close personal friend of a director, executive officer,
      founder or control person of the Company
	  [   ]
	 	 	 	 	 
	 		(E) 	
      a close business associate of a director, executive
      officer, founder or control person of the Company or an affiliate of the
      Company
	  [   ]
	 	 	 	 	 
	 		(F) 	
      an accredited investor
	  [   ]
	 	 	 	 	 
	 		(G) 	
      a company, partnership or other entity of which a
      majority of the voting securities are beneficially owned by, or a majority
      of the directors are, persons described in paragraphs A to F
	  [   ]
	 	 	 	 	 
	 		(H) 	
      a trust or estate of which all of the beneficiaries or a
      majority of the trustees or executors are persons described in paragraphs
      A to F
	  [   ]
	 	 	 	 	 
	 		(I) 	
      purchasing as principal Shares with an aggregate
      acquisition cost of not less than CDN$150,000
	  [   ]

- 2 -

	 	3. 	
      if the Subscriber has checked box B, C, D, E, G or H in
      paragraph 3 above, the director, executive officer, founder or control
      person of the Company with whom the undersigned has the relationship
      is:

	 	 	 	 
			
	 	 	 	 
			
      (Instructions to Subscriber: fill in the name of each
      director, executive officer, founder and control person which you have the
      above-mentioned relationship with. If you have checked box G or H, also
      indicate which of A to F describes the securityholders, directors,
      trustees or beneficiaries which qualify you as box G or H and provide the
      names of those individuals. Please attach a separate page if
      necessary).

	 	 	 	 
	 	4. 	
      if the Subscriber has ticked box F in Section 2 above,
      the Subscriber satisfies one or more of the categories of "accredited
      investor" (as that term is defined in NI 45-106) indicated below (please
      check the appropriate box):

	 	 	 	 
			[ ] 	
      (a) a Canadian financial institution as defined in
      National Instrument 14-101, or an authorized foreign bank listed in
      Schedule III of the Bank Act (Canada);

	 	 	 	 
			[ ] 	
      (b) the Business Development Bank of Canada incorporated
      under the Business Development Bank Act (Canada);

	 	 	 	 
			[ ] 	
      (c) a subsidiary of any person referred to in any of the
      foregoing categories, if the person owns all of the voting securities of
      the subsidiary, except the voting securities required by law to be owned
      by directors of that subsidiary;

	 	 	 	 
			[ ] 	
      (d) an individual registered or formerly registered under
      securities legislation in a jurisdiction of Canada, as a representative of
      a person or company registered under securities legislation in a
      jurisdiction of Canada, as an adviser or dealer, other than a limited
      market dealer registered under the Securities Act (Ontario) or the
      Securities Act (Newfoundland);

	 	 	 	 
			[ ] 	
      (e) an individual registered or formerly registered under
      the securities legislation of a jurisdiction of Canada as a representative
      of a person referred to in paragraph (d);

	 	 	 	 
			[ ] 	
      (f) the government of Canada or a province, or any crown
      corporation or agency of the government of Canada or a province;

	 	 	 	 
			[ ] 	
      (g) a municipality, public board or commission in Canada
      and a metropolitan community, school board, the Comite de gestion de la
      taxe scholaire de l'ile de Montreal or an intermunicipal management board
      in Québec;

	 	 	 	 
			[ ] 	
      (h) a national, federal, state, provincial, territorial
      or municipal government of or in any foreign jurisdiction, or any agency
      thereof;

	 	 	 	 
			[ ] 	
      (i) a pension fund that is regulated by either the Office
      of the Superintendent of Financial Institutions (Canada) or a pension
      commission or similar regulatory authority of a jurisdiction of
    Canada;

	 	 	 	 
			[ ] 	
      (j) an individual who either alone or with a spouse
      beneficially owns, directly or indirectly, financial assets (as defined in
      NI 45-106) having an aggregate realizable value that, before taxes but net
      of any related liabilities, exceeds
CDN$1,000,000;

- 3 -

	 	 	[ ] 	
      (k) an individual whose net income before taxes exceeded
      CDN$200,000 in each of the two more recent calendar years or whose net
      income before taxes combined with that of a spouse exceeded $300,000 in
      each of those years and who, in either case, reasonably expects to exceed
      that net income level in the current calendar year;

	 	 	 	 
	 	 	[ ] 	
      (l) an individual who, either alone or with a spouse, has
      net assets of at least CDN $5,000,000;

	 	 	 	 
	 	 	[ ] 	
      (m) a person, other than an individual or investment
      fund, that had net assets of at least CDN$5,000,000 as reflected on its
      most recently prepared financial statements;

	 	 	 	 
	 	 	[ ] 	
      (n) an investment fund that distributes it securities
      only to persons that are accredited investors at the time of distribution,
      a person that acquires or acquired a minimum of CDN$150,000 of value in
      securities, or a person that acquires or acquired securities under
      Sections 2.18 or 2.19 of NI 45-106;

	 	 	 	 
	 	 	[ ] 	
      (o) an investment fund that distributes or has
      distributed securities under a prospectus in a jurisdiction of Canada for
      which the regulator or, in Québec, the securities regulatory authority,
      has issued a receipt;

	 	 	 	 
	 	 	[ ] 	
      (p) a trust company or trust corporation registered or
      authorized to carry on business under the Trust and Loan Companies Act
      (Canada) or under comparable legislation in a jurisdiction of Canada
      or a foreign jurisdiction, acting on behalf of a fully managed account
      managed by the trust company or trust corporation, as the case may
    be;

	 	 	 	 
	 	 	[ ] 	
      (q) a person acting on behalf of a fully managed account
      managed by that person, if that person (i) is registered or authorized to
      carry on business as an adviser or the equivalent under the securities
      legislation of a jurisdiction of Canada or a foreign jurisdiction, and
      (ii) in Ontario, is purchasing a security that is not a security of an
      investment fund;

	 	 	 	 
	 	 	[ ] 	
      (r) a registered charity under the Income Tax Act
      (Canada) that, in regard to the trade, has obtained advice from an
      eligibility advisor or an advisor registered under the securities
      legislation of the jurisdiction of the registered charity to give advice
      on the securities being traded;

	 	 	 	 
	 	 	[ ] 	
      (s) an entity organized in a foreign jurisdiction that is
      analogous to any of the entities referred to in paragraphs (a) to (d) or
      paragraph (i) in form and function;

	 	 	 	 
	 	 	[ ] 	
      (t) a person in respect of which all of the owners of
      interests, direct, indirect or beneficial, except the voting securities
      required by law are persons or companies that are accredited
    investors;

	 	 	 	 
	 	 	[ ] 	
      (u) an investment funds that is advised by a person
      registered as an advisor or a person that is exempt from registration as
      an advisor; or

	 	 	 	 
	 	 	[ ] 	
      (v) a person that is recognized or designated by the
      securities regulatory authority or, except in Ontario and Québec, the
      regulator as (i) an accredited investor, or (ii) an exempt purchaser in
      Alberta or British Columbia after this instrument comes into
  force;

	 	5. 	
      If on the date that this Questionnaire is signed the
      Company and the Subscriber wish to rely on the exemption for private
      companies contained in Part 2.4 of NI 45-106, the Subscriber represents
      and warrants to the Company that it is either:
	 
	 	 	 	 
			
      (A) 
	a director, officer, employee, founder or control person
      of the issuer	 [  ]

- 4 -

	 	 	(B) 	
      a spouse, parent, grandparent, brother, sister or child
      of a director, executive officer, founder or control person of the
      issuer
	 [   ]
	 	 	 	 	 
	 	 	(C) 	
      a parent, grandparent, brother, sister or child of the
      spouse of a director, executive officer, founder or control person of the
      issuer
	  [   ]
	 	 	 	 	 
	 	 	(D) 	
      a close personal friend of a director, executive officer,
      founder or control person of the issuer
	  [   ]
	 	 	 	 	 
	 	 	(E) 	
      a close business associate of a director, executive
      officer, founder or control person of the issuer
	  [   ]
	 	 	 	 	 
	 	 	(F) 	
      a spouse, parent, grandparent, brother, sister or child
      of the selling security holder or of the selling security holder’s
      spouse
	  [   ]
	 	 	 	 	 
	 	 	(G) 	
      a security holder of the issuer
	  [   ]
	 	 	 	 	 
	 	 	(H) 	
      an accredited investor
	  [   ]
	 	 	 	 	 
	 	 	(I) 	
      a person of which a majority of the voting securities are
      beneficially owned by, or a majority of the directors are, persons
      described in paragraphs (a) to (h)
	  [   ]
	 	 	 	 	 
	 	 	(J) 	
      a trust or estate of which all of the beneficiaries or a
      majority of the trustees or executors are persons described in paragraphs
      (a) to (h), or
	  [   ]
	 	 	 	 	 
	 	 	(K) 	
      a person that is not the public
	  [   ]

The Subscriber acknowledges and agrees that the Subscriber may
be required by the Company to provide such additional documentation as may be
reasonably required by the Company and its legal counsel in determining the
Subscriber's eligibility to acquire the Shares under relevant legislation.

     IN WITNESS WHEREOF, the
undersigned has executed this Questionnaire as of the ________ day of
__________________, 2010.

	If an Individual: 	 	If a Corporation, Partnership or Other Entity:
    
	 	 	 
	 	 	 
	Signature 	 	Print or Type Name of Entity 
	 	 	 
	 	 	 
	Print or Type Name 	 	Signature of Authorized Signatory 
	 	 	 
	 	 	 
	  	 	Type of Entity 

- 5 -

SCHEDULE A-2

U.S. ACCREDITED INVESTOR QUESTIONNAIRE

All capitalized terms herein, unless otherwise defined, have
the meanings ascribed thereto in the Subscription Agreement.

This Questionnaire is for use by each Subscriber who is a US
person (as that term is defined Regulation S of the United States Securities Act
of 1933 (the "1933 Act")) and has indicated an interest in purchasing shares of
Striker Energy Corp. (the "Company"). The purpose of this Questionnaire is to
assure the Company that each Subscriber will meet the standards imposed by the
1933 Act and the appropriate exemptions of applicable state securities laws. The
Company will rely on the information contained in this Questionnaire for the
purposes of such determination. The shares will not be registered under the 1933
Act in reliance upon the exemption from registration afforded by Section 3(b)
and/or Section 4(2) and Regulation D of the 1933 Act. This Questionnaire is not
an offer of the shares or any other securities of the Company in any state other
than those specifically authorized by the Company.

All information contained in this Questionnaire will be treated
as confidential. However, by signing and returning this Questionnaire, each
Subscriber agrees that, if necessary, this Questionnaire may be presented to
such parties as the Company deems appropriate to establish the availability,
under the 1933 Act or applicable state securities law, of exemption from
registration in connection with the sale of the Units hereunder.

The Subscriber covenants, represents and warrants to the
Company that it satisfies one or more of the categories of "Accredited
Investors", as defined by Regulation D promulgated under the 1933 Act, as
indicated below: (Please initial in the space provide those categories, if any,
of an "Accredited Investor" which the Subscriber satisfies)

	 	___________    Category 1 	An organization described in Section
      501(c)(3) of the United States Internal Revenue Code, a corporation, a
      Massachusetts or similar business trust or partnership, not formed for the
      specific purpose of acquiring the Units, with total assets in excess of US
      $5,000,000; 
	 	 	 
	 	___________    Category 2	A natural person whose individual net worth, or
      joint net worth with  that person's spouse, on the date of
      purchase exceeds US $1,000,000; 
	 	 	 
	 	___________    Category 3	A natural person who had an
      individual income in excess of US $200,000 in each of the two most recent
      years or joint income with that person's spouse in excess of US $300,000
      in each of those years and has a reasonable expectation of reaching the
      same income level in the current year; 

- 6 -

		___________    Category 4	
      A "bank" as defined under Section (3)(a)(2) of the 1933
      Act or savings and loan association or other institution as defined in
      Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary
      capacity; a broker dealer registered pursuant to Section 15 of the
      Securities Exchange Act of 1934 (United States); an insurance
      company as defined in Section 2(13) of the 1933 Act; an investment company
      registered under the Investment Company Act of 1940 (United States)
      or a business development company as defined in Section 2(a)(48) of such
      Act; a Small Business Investment Company licensed by the U.S. Small
      Business Administration under Section 301(c) or (d) of the Small
      Business Investment Act of 1958 (United States); a plan with total
      assets in excess of $5,000,000 established and maintained by a state, a
      political subdivision thereof, or an agency or instrumentality of a state
      or a political subdivision thereof, for the benefit of its employees; an
      employee benefit plan within the meaning of the Employee Retirement
      Income Security Act of 1974 (United States) whose investment
      decisions are made by a plan fiduciary, as defined in Section 3(21) of
      such Act, which is either a bank, savings and loan association, insurance
      company or registered investment adviser, or if the employee benefit plan
      has total assets in excess of $5,000,000, or, if a self- directed plan,
      whose investment decisions are made solely by persons that are accredited
      investors; 

	 	   
		___________    Category 5	A private business development company as
      defined in Section 202(a)(22) of the Investment Advisers Act of 1940
      (United States); 
	 	   
	 	___________    Category 6	A director or executive officer of the Company;    
	 	   
		___________    Category 7	
      A trust with total assets in excess of $5,000,000, not
      formed for the specific purpose of acquiring the Units, whose purchase is
      directed by a sophisticated person as described in Rule 506(b)(2)(ii)
      under the 1933 Act; 

	 	   
		___________    Category 8	An entity in which all of the equity owners
      satisfy the requirements of one or more of the foregoing categories;
	 	 
	 	Note that prospective Subscribers
      claiming to satisfy one of the above categories of Accredited Investor may
      be required to supply the Company with a balance sheet, prior years'
      federal income tax returns or other appropriate documentation to verify
      and substantiate the Subscriber's status as an Accredited Investor. 
	 	 
	
      If the Subscriber is an entity which initialled Category
      8 in reliance upon the Accredited Investor categories above, state the
      name, address, total personal income from all sources for the previous
      calendar year, and the net worth (exclusive of home, home furnishings and
      personal automobiles) for each equity owner of the said entity: 

	 
	 	 

The Subscriber hereby certifies that the information contained
in this Questionnaire is complete and accurate and the Subscriber will notify
the Company promptly of any change in any such information. If this
Questionnaire is being completed on behalf of a corporation, partnership, trust
or estate, the person executing on behalf of the Subscriber represents that it
has the authority to execute and deliver this Questionnaire on behalf of such
entity.

- 7 -

IN WITNESS WHEREOF, the undersigned has executed this
Questionnaire as of the _______ day of __________________, 2010.

	If an Individual: 	 	If a Corporation, Partnership or Other Entity:
    
	 	 	 
	 	 	 
	Signature 	 	Print or Type Name of Entity 
	 	 	 
	 	 	 
	Print or Type Name 	 	Signature of Authorized Signatory 
	 	 	 
	 	 	 
	Social Security/Tax I.D. Number 	 	Type of Entity

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