SEC Contract Filing

Filing Date: 2018-07-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>3
<FILENAME>gyti_ex108.htm
<DESCRIPTION>FORM OF SUBSCRIPTION AGREEMENT
<TEXT>
<html><head><title>gyti_ex108.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.8</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="right">Subscription Agreement No.: ____________</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="right">Name: ________________</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="right">Date: _____________</p> <p style="MARGIN: 0px 0px 0px 0in" align="justify">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="center"><b>GYROTRON TECHNOLOGY, INC.</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="center"><b>SUBSCRIPTION AGREEMENT</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="center"><b><u>SERIES A4 PREFERRED STOCK</u></b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px">Gyrotron Technology, Inc.</p> <p style="MARGIN: 0px">3412 Progress Drive </p> <p style="MARGIN: 0px">Bensalem, Pennsylvania 19020</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px">Gentlemen:</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 1in" align="left">1. <u>Subscription</u>.</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 1in" align="justify">(a) The undersigned subscriber (the &#8220;<u>Subscriber</u>&#8221;), intending to be legally bound, hereby irrevocably subscribes to purchase from Gyrotron Technology, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;) _______ shares of 10% Convertible Redeemable Series A4 Preferred Stock, par value $0.001 per share (the &#8220;<u>Series A4 Preferred Stock</u>&#8221; or &#8220;<u>Shares</u>&#8221;), of the Company at a price of $30.00 per share, plus accrued dividends, if any; all as set forth on the signature page hereof. The form of Certificate of Designation (&#8220;COD&#8221;) for the Series A4 Preferred Stock, is attached as Exhibit B and all references to its terms are qualified in their entirety by reference to said exhibit. </p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 1in" align="justify">This subscription is made in accordance with and subject to the terms and conditions described in this Subscription Agreement (this &#8220;<u>Agreement</u>&#8221;) and any other documents concerning the Company that have been furnished to the Subscriber concerning the Offering (the &#8220;<u>Other Offer Documents</u>&#8221;). </p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 1in" align="justify">The Shares that are the subject of this Agreement are part of an offering of Shares by the Company (the &#8220;<u>Offering</u>&#8221;), on a best efforts basis. The number of Shares that the Company may offer and/or sell is at the Company&#8217;s discretion.</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 1in" align="justify">The Company may use broker-dealers and other agents to offer and sell the Shares, and/or finders identify and introduce potential subscribers to the Company. Compensation may be paid to these persons in the amount of up to 6% of the gross proceeds to the Company of the Shares that they have placed, to be paid in cash and/or in Shares.</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px"> <table id="pagebreakc892ac3f-0973-421a-b2bc-b23531e20335" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td class="hpbhr">&nbsp;</td></tr> <tr> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">-1-</td></tr> <tr> <td> <div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr> <tr> <td>&nbsp;</td></tr></table></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 1in" align="justify">The Company may terminate the Offering at any time without prior notice. Also, the Company, in its sole discretion, may accept or reject this subscription in whole or in part for any reason, but the Company will issue Shares. If the Company decides to reject this subscription, it will do so promptly following its receipt and will return the Subscriber&#8217;s funds without interest as soon as practicable.</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 1in" align="justify">The Series A4 Preferred Stock pro forma began to accrue dividends as of June 30xx, 2018. In lieu of requesting payment in the amount of dividends accrued through the date of delivery of the Subscriber&#8217;s subscription payment, the Company will withhold from the dividend payments otherwise payable to a Subscriber the amount of the dividends accrued through the date of delivery of the subscription payment. </p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="justify">THE SHARES BEING OFFERED HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE &#8220;SECURITIES ACT&#8221;), OR UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY APPLICABLE STATE OR OTHER REGULATORY AUTHORITY PASSED UPON THE ACCURACY OR ADEQUACY OF THE OTHER OFFER DOCUMENTS OR ENDORSED THE MERITS OF THE OFFERING. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px 0px 0px 0in" align="justify">THE SHARES ARE OFFERED PURSUANT TO EXEMPTIONS PROVIDED BY THE SECURITIES ACT, CERTAIN STATE SECURITIES LAWS AND CERTAIN RULES AND REGULATIONS PROMULGATED PURSUANT THERETO. NEITHER THE SHARES AND THE WARRANTS NOR ANY INTEREST THEREIN MAY BE SOLD