<PAGE>   1
                                                                   Exhibit 10.95

                          REGISTRATION RIGHTS AGREEMENT


         REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated as of June 14,
2000, is made and entered into by and between BIOSHIELD TECHNOLOGIES, INC., a
Georgia corporation (the "Company"), and JACKSON, LLC, a Cayman Island limited
liability company (the "Investor").

         WHEREAS, the Company and the Investor have entered into that certain
Private Equity Credit Agreement dated as of the date hereof (the "Investment
Agreement"), pursuant to which the Company may issue and sell, from time to
time, to the Investor up to $50,000,000 worth of shares of its common stock, no
par value per share (the "Common Stock"); and

         WHEREAS, pursuant to the terms of, and in partial consideration for,
the Investor's agreement to enter into the Investment Agreement, the Company has
agreed to provide the Investor with certain registration rights with respect to
the Registrable Securities;

         NOW, THEREFORE, in consideration of the premises, the representations,
warranties, covenants and agreements contained herein and in the Investment
Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, intending to be legally bound
hereby, the parties hereto agree as follows (capitalized terms used herein and
not defined herein shall have the respective meanings ascribed to them in the
Investment Agreement):


                                    ARTICLE I
                               REGISTRATION RIGHTS


2.1 Registration Statements.

(a) Filing of Registration Statement. Subject to the terms and conditions of
this Agreement, the Company shall (i) prepare and, within ninety (90) days
following the Subscription Date, deliver to the Investor a draft of a
registration statement on Form S-1 or SB-2 under the Securities Act (the
"Initial Registration Statement") for the registration for the resale by the
Investor of at least 6,666,667 Registrable Securities (the "Initial Registrable
Securities") and accompanied or preceded by a questionnaire (a "Selling
Shareholder Questionnaire") and of the type commonly used for offerings of this
kind and (ii) within ten (10) days after the Company has received comments, if
any, and a properly completed Selling Shareholder Questionnaire from the
Investor, file the Initial Registration Statement with the SEC. Thereafter, if
the Company desires to issue and sell to the Investor any Registrable Securities
in addition to the Initial Registrable Securities, the Company shall first file
with the SEC a registration statement on Form S-1 or Form SB-2 under the
Securities Act (the Initial Registration Statement and any subsequent
registration statement, each a "Registration Statement").
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(b) Effectiveness of the Initial Registration Statement. The Company shall use
its commercially reasonable efforts (i) to have the Initial Registration
Statement declared effective by the SEC by no later than ninety (90) days after
the filing of the Initial Registration Statement, and (ii) to ensure that the
Initial Registration Statement and any subsequent Registration Statement remains
in effect throughout the term of this Agreement as set forth in Section 4.2,
subject to the terms and conditions of this Agreement.

(c) Failure to Maintain Effectiveness of a Registration Statement. In the event
the Company fails to maintain the effectiveness of any Registration Statement
(or the underlying prospectus) throughout the term of this Agreement for any
period of more than ten (10) continuous calendar days, other than temporary
suspensions permitted by Section 1.1(e), and the Investor holds any Registrable
Securities at any time during the period of such ineffectiveness (such period of
ineffectiveness exceeding such 10 calendar day period being herein referred to
as an "Ineffective Period"), the Company shall pay to the Investor in
immediately available funds into an account designated by the Investor an amount
equal to three percent (3%) of the aggregate Purchase Price of all of the
Registrable Securities then held by the Investor for each ten (10) calendar day
period (prorated for partial periods) of such Ineffective Period. The payments
required by this Section 1.1(d) shall be made on the first Trading Day after the
earliest to occur of (i) the expiration of the Commitment Period, and (ii) the
expiration of an Ineffective Period (or if an Ineffective Period shall last more
than thirty (30) calendar days, the expiration of each thirty (30) calendar days
of an Ineffective Period).

(d) Liquidated Damages. The Company and the Investor hereto acknowledge and
agree that the sums payable under subsection 1(c) above shall constitute
liquidated damages and not penalties. The parties further acknowledge that (i)
the amount of loss or damages likely to be incurred is incapable or is difficult
to precisely estimate, (ii) the amounts specified in such subsections bear a
reasonable relationship to, and are not plainly or grossly disproportionate to,
the probable loss likely to be incurred in connection with any failure by the
Company to obtain or maintain the effectiveness of a Registration Statement,
(iii) one of the reasons for the Company and the Investor reaching an agreement
as to such amounts was the uncertainty and cost of litigation regarding the
question of actual damages, and (iv) the Company and the Investor are
sophisticated business parties and have been represented by sophisticated and
able legal counsel and negotiated this Agreement at arm's length.
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                                   ARTICLE II
                             REGISTRATION PROCEDURES

3.1 Section Filings; Information. The Company will effect the registration and
sale of the Registrable Securities in accordance with the intended methods of
disposition thereof. Without limiting the foregoing, the Company in each such
case will do the following as expeditiously as possible, but in no event later
than the deadline, if any, prescribed therefor in this Agreement:

(a) The Company shall (i) prepare and file with the SEC a Registration Statement
on Form S-1 or SB-2 (if use of such form is then available to the Company
pursuant to the rules of the SEC and, if not, on such other form promulgated by
the SEC for which the Company then qualifies, that counsel for the Company shall
deem appropriate and which form shall be available for the sale of the
Registrable Securities to be registered thereunder in accordance with the
provisions of this Agreement and in accordance with the intended method of
distribution of such Registrable Securities); (ii) use commercially reasonable
efforts to cause such filed Registration Statement to become and remain
effective (pursuant to Rule 415 under the Securities Act or otherwise); (iii)
prepare and file with the SEC such amendments and supplements to such
Registration Statement and the prospectus used in connection therewith as may be
necessary to keep such Registration Statement effective for the time period
prescribed by Section 1.1(b); and (iv) comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such
Registration Statement during such period in accordance with the intended
methods of disposition by the Investor set forth in such Registration Statement.

(b) The Company shall file all necessary amendments to any Registration
Statement in order to effectuate the purpose of this Agreement and the
Investment Agreement.

(c) No later than five (5) days prior to filing any amendment or supplement to
the Initial Registration Statement or any subsequent Registration Statement or
prospectus, or any amendment or supplement thereto (excluding, in each case,
amendments deemed to result from the filing of documents incorporated by
reference therein), or such shorter period as is reasonable under the
circumstances, the Company shall deliver to the Investor and one firm of counsel
representing the Investor, in accordance with the notice provisions of Section
4.8, copies of such Registration Statement as proposed to be filed, together
with exhibits thereto, which documents will be subject to review by the Investor
and such counsel, and thereafter deliver to the Investor and such counsel, in
accordance with the notice provisions of Section 4.8, such number of copies of
the Registration Statement, each amendment and supplement
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thereto (in each case including all exhibits thereto), the prospectus included
in such Registration Statement (including each preliminary prospectus) and such
other documents or information as the Investor or counsel may reasonably request
in order to facilitate the disposition of the Registrable Securities.

(d) The Company shall deliver, in accordance with the notice provisions of
Section 4.8, to each seller of Registrable Securities covered by a Registration
Statement, such number of conformed copies of such Registration Statement and of
each amendment and supplement thereto (in each case including all exhibits and
documents incorporated by reference), such number of copies of the prospectus
contained in any Registration Statement (including each preliminary prospectus
and any summary prospectus) and any other prospectus filed under Rule 424
promulgated under the Securities Act relating to such seller's Registrable
Securities, and such other documents, as such seller may reasonably request to
facilitate the disposition of its Registrable Securities.

(e) After the filing of a Registration Statement, the Company shall promptly
notify the Investor of any stop order issued or threatened by the SEC in
connection therewith and take all reasonable actions required to prevent the
entry of such stop order or to remove it if entered.

(f) The Company shall use its commercially reasonable efforts to (i) register or
qualify the Registrable Securities under such other securities or blue sky laws
of such jurisdictions in the United States as the Investor may reasonably
request in light of its intended plan of distribution and (ii) cause the
Registrable Securities to be registered with or approved by such other
governmental agencies or authorities in the United States as may be necessary by
virtue of the business and operations of the Company, and do any and all other
acts and things that may be reasonably necessary or advisable to enable the
Investor to consummate the disposition of the Registrable Securities in light of
its intended plan of distribution; provided, however, that the Company will not
be required to qualify generally to do business in any jurisdiction where it
would not otherwise be required to qualify but for this paragraph (f), subject
itself to taxation in any such jurisdiction, or consent or subject itself to
general service of process in any such jurisdiction.

(g) The Company shall immediately notify the Investor upon the occurrence of any
of the following events in respect of a Registration Statement or related
prospectus in respect of an offering of Registrable Securities: (i) receipt of
any request by the SEC or any other federal or state governmental authority for
additional information, amendments or supplements to such Registration Statement
or related prospectus; (ii) the issuance by the SEC or any other federal or
state governmental authority of any
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stop order suspending the effectiveness of such Registration Statement or
notification of the initiation of any proceedings for that purpose; (iii)
receipt of any notification with respect to the suspension of the qualification
or exemption from qualification of any of the Registrable Securities for sale in
any jurisdiction or the initiation or threatening of any proceeding for such
purpose; (iv) the happening of any event that makes any statement made in such
Registration Statement or related prospectus or any document incorporated or
deemed to be incorporated therein by reference untrue in any material respect or
that requires the making of any changes in such Registration Statement, related
prospectus or documents so that, in the case of such Registration Statement, it
will not contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein not misleading, in the light of the circumstances under which they were
made, and that in the case of the related prospectus it will not contain any
untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading; and (v) the
Company's reasonable determination that a post-effective amendment to such
Registration Statement would be appropriate, and the Company will promptly make
available to the Investor any such supplement or amendment to the related
prospectus.

(h) The Company shall enter into customary agreements and take such other
customary actions as are reasonably required in order to expedite or facilitate
the disposition by the Investor of such Registrable Securities (whereupon the
Investor may, at its option, require that any or all of the representations,
warranties and covenants of the Company also be made to and for the benefit of
the Investor).

(i) The Company shall make available to the Investor (and will deliver to
Investor's counsel), subject to restrictions imposed by the United States
federal government or any agency or instrumentality thereof, copies of all
correspondence between the SEC and the Company, its counsel or its auditors and
will also make available for inspection by the Investor and any attorney,
accountant or other professional retained by the Investor (collectively, the
"Inspectors"), all financial and other records, pertinent corporate documents
and properties of the Company (collectively, the "Records") as shall be
reasonably necessary to enable them to exercise their due diligence
responsibility, and cause the Company's officers and employees to supply all
information reasonably requested by any Inspectors in connection with a
Registration Statement. Records that the Company determines, in good faith, to
be confidential and that it notifies the Inspectors are confidential shall not
be disclosed by the Inspectors unless (i) the disclosure of such Records is
necessary to avoid or correct a misstatement or omission in any Registration
Statement or (ii) the disclosure or release of such Records is requested or
required pursuant to oral
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questions, interrogatories, requests for information or documents or a subpoena
or other order from a court of competent jurisdiction or other legal process;
provided, however, that prior to any disclosure or release pursuant to clause
(ii), the Inspectors shall provide the Company with prompt notice of any such
request or requirement so that the Company may seek an appropriate protective
order or waive such Inspectors' obligation not to disclose such Records; and,
provided, further, that if failing the entry of a protective order or the waiver
by the Company permitting the disclosure or release of such Records, the
Inspectors, upon advice of counsel, are compelled to disclose such Records, the
Inspectors may disclose that portion of the Records that counsel has advised the
Inspectors that the Inspectors are compelled to disclose. The Investor agrees
that information obtained by it as a result of such inspections (not including
any information obtained from a third party who, insofar as is known to the
Investor after reasonable inquiry, is not prohibited from providing such
information by a contractual, legal or fiduciary obligation to the Company)
shall be deemed confidential and shall not be used by it as the basis for any
market transactions in the securities of the Company unless and until such
information has been made generally available to the public. The Investor
further agrees that it will, upon learning that disclosure of such Records is
sought in a court of competent jurisdiction, give notice to the Company and
allow the Company, at its expense, to undertake appropriate action to prevent
disclosure of the Records deemed confidential.

(j) The Company shall otherwise comply with all applicable rules and regulations
of the SEC, including, without limitation, compliance with applicable reporting
requirements under the Exchange Act.

(k) The Company may require the Investor to promptly furnish in writing to the
Company such information as may be legally required in connection with such
registration including, without limitation, all such information as may be
requested by the SEC or the NASD. The Investor agrees to provide such
information requested in connection with such registration within five (5)
calendar days after receiving such written request, or such shorter period as is
reasonable under the circumstances, and the Company shall not be responsible for
any delays in obtaining or maintaining the effectiveness of any Registration
Statement caused by the Investor's failure to timely provide such information.

3.2 Section Registration Expenses. In connection with each Registration
Statement, the Company shall pay all registration expenses incurred in
connection with the registration thereunder (the "Registration Expenses"),
including, without limitation: (a) all registration, filing, securities exchange
listing and fees required by the NASD, (b) all registration, filing,
qualification and other fees and expenses of compliance with securities or blue
sky laws (including reasonable fees and disbursements of counsel for
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the Company), (c) all word-processing, duplicating, printing, messenger and
delivery expenses, (d) the Company's internal expenses (including, without
limitation, all salaries and expenses of its officers and employees performing
legal or accounting duties), and (e) reasonable fees and disbursements of
counsel for the Company and customary fees and expenses for independent
certified public accountants retained by the Company.


                                   ARTICLE III
                        INDEMNIFICATION AND CONTRIBUTION


4.1 Section Indemnification.

                  a. To the fullest extent permitted by law, the Company will,
         and hereby does, indemnify, hold harmless and defend each Investor who
         holds such Registrable Securities, the directors, officers, partners,
         employees, agents and each Person, if any, who controls any Investor
         within the meaning of the 1933 Act or the Securities Exchange Act of
         1934, as amended (the "1934 ACT") (collectively, Controlling Person"),
         and any underwriter (as defined in the 1933 Act) for the Investors, and
         the directors and officers of, and each Person, if any, who controls,
         any such underwriter within the meaning of the 1933 Act or the 1934 Act
         (each, an "INDEMNIFIED PERSON"), against any losses, claims, damages,
         liabilities, judgments, fines, penalties, charges, costs, attorneys'
         fees, amounts paid in settlement or expenses, joint or several,
         (collectively, "CLAIMS") incurred in investigating, preparing or
         defending any action, claim, suit, inquiry, proceeding, investigation
         or appeal taken from the foregoing by or before any court or
         governmental, administrative or other regulatory agency, body or the
         SEC, whether pending or threatened, whether or not an indemnified party
         is or may be a party thereto ("INDEMNIFIED DAMAGES"), to which any of
         them may become subject insofar as such Claims (or actions or
         proceedings, whether commenced or threatened, in respect thereof) arise
         out of or are based upon: (i) any untrue statement or alleged untrue
         statement of a material fact in a Registration Statement or any
         post-effective amendment thereto or in any filing made in connection
         with the qualification of the offering under the securities or other
         "blue sky" laws of any jurisdiction in which Registrable Securities are
         offered ("BLUE SKY FILING"), or the omission or alleged omission to
         state a material fact required to be stated therein or necessary to
         make the statements therein, in light of the circumstances under which
         the statements therein were made, not misleading, (ii) any untrue
         statement or alleged untrue statement of a material fact contained in
         any preliminary prospectus if used prior to the effective date of such
         Registration Statement, or contained in the final prospectus (as
         amended or supplemented, if the Company files any amendment thereof or
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         supplement thereto with the SEC) or the omission or alleged omission to
         state therein any material fact necessary to make the statements made
         therein, in light of the circumstances under which the statements
         therein were made, not misleading, or (iii) any violation or alleged
         violation by the Company of the 1933 Act, the 1934 Act, any other law,
         including, without limitation, any state securities law, or any rule or
         regulation thereunder relating to the offer or sale of the Registrable
         Securities pursuant to a Registration Statement (the matters in the
         foregoing clauses (i) through (iii) being, collectively, "VIOLATIONS").
         Subject to the restrictions set forth herein with respect to the number
         of legal counsel, the Company shall reimburse the Investors and each
         such underwriter or controlling person, promptly as such expenses are
         incurred and are due and payable, for any legal fees or other
         reasonable expenses incurred by them in connection with investigating
         or defending any such Claim. Notwithstanding anything to the contrary
         contained herein, the indemnification agreement contained in this
         Section : (i) shall not apply to a Claim arising out of or based upon a
         Violation which occurs in reliance upon and in conformity with
         information furnished in writing to the Company by any Indemnified
         Person or underwriter for such Indemnified Person expressly for use in
         connection with the preparation of the Registration Statement or any
         such amendment thereof or supplement thereto, if such prospectus was
         timely made available by the Company pursuant to Section 3(c); (ii)
         with respect to any preliminary prospectus, shall not inure to the
         benefit of any such person from whom the person asserting any such
         Claim purchased the Registrable Securities that are the subject thereof
         (or to the benefit of any person controlling such person) if the untrue
         statement or mission of material fact contained in the preliminary
         prospectus was corrected in the prospectus, as then amended or
         supplemented, if such prospectus was timely made available by the
         Company pursuant to Section 3(c), and the Indemnified Person was
         promptly advised in writing not to use the incorrect prospectus prior
         to the use giving rise to a violation and such Indemnified Person,
         notwithstanding such advice, used it; (iii) shall not be available to
         the extent such Claim is based on a failure of the Investor to deliver
         or to cause to be delivered the prospectus made available by the
         Company (i) and (iv) shall not apply to amounts paid in settlement of
         any Claim if such settlement is effected without the prior written
         consent of the Company, which consent shall not be unreasonably
         withheld. Such indemnity shall remain in full force and effect
         regardless of any investigation made by or on behalf of the Indemnified
         Person and shall survive the transfer of the Registrable Securities by
         the Investors pursuant to Section 9.

                  b. In connection with any Registration Statement in which an
         Investor is participating, each such Investor agrees to severally and
         not jointly indemnify, hold harmless and defend, to the same extent and
         in the same manner as is set
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         forth herein, the Company, each of its directors, each of its officers
         who signs the Registration Statement, each Person, if any, who controls
         the Company within the meaning of the 1933 Act or the 1934 Act
         (collectively and together with an Indemnified Person, an "INDEMNIFIED
         PARTY"), against any Claim or Indemnified Damages to which any of them
         may become subject, under the 1933 Act, the 1934 Act or otherwise,
         insofar as such Claim or Indemnified Damages arise out of or are based
         upon any Violation, in each case to the extent, and only to the extent,
         that such Violation occurs in reliance upon and in conformity with
         written information furnished to the Company by such Investor expressly
         for use in connection with such Registration Statement; and, subject to
         Section 6(d), such Investor will reimburse any legal or other expenses
         reasonably incurred by them in connection with investigating or
         defending any such Claim; provided, however, that the indemnity
         agreement contained in this Section shall not apply to amounts paid in
         settlement of any Claim if such settlement is effected without the
         prior written consent of such Investor, which consent shall not be
         unreasonably withheld. Such indemnity shall remain in full force and
         effect regardless of any investigation made by or on behalf of such
         Indemnified Party and shall survive the transfer of the Registrable
         Securities by the Investors. Notwithstanding anything to the contrary
         contained herein, the indemnification agreement contained in this
         Section with respect to any preliminary prospectus shall not inure to
         the benefit of any Indemnified Party if the untrue statement or
         omission of material fact contained in the preliminary prospectus was
         corrected on a timely basis in the prospectus, as then amended or
         supplemented.

                  c. The Company shall be entitled to receive indemnities from
         underwriters, selling brokers, dealer managers and similar securities
         industry professionals participating in any distribution, to the same
         extent as provided above, with respect to information such persons so
         furnished in writing expressly for inclusion in the Registration
         Statement.

                  d. Promptly after receipt by an Indemnified Person or
         Indemnified Party under this Section of notice of the commencement of
         any action or proceeding (including any governmental action or
         proceeding) involving a Claim such Indemnified Person or Indemnified
         Party shall, if a Claim in respect thereof is to be made against any
         indemnifying party under this Section 6, deliver to the indemnifying
         party a written notice of the commencement thereof, and the
         indemnifying party shall have the right to participate in, and, to the
         extent the indemnifying party so desires, jointly with any other
         indemnifying party similarly noticed, to assume control of the defense
         thereof with counsel mutually satisfactory to the indemnifying party
         and the Indemnified Person or the Indemnified Party, as the case may
         be; provided, however, that an Indemnified
<PAGE>   10
         Person or Indemnified Party shall have the right to retain its own
         counsel with the fees and expenses to be paid by the indemnifying
         party, if, in the reasonable opinion of counsel retained by the
         indemnifying party, the representation by such counsel of the
         Indemnified Person or Indemnified Party and the indemnifying party
         would be inappropriate due to actual or potential differing interests
         between such Indemnified Person or Indemnified Party and any other
         party represented by such counsel in such proceeding. The Company shall
         pay reasonable fees for only one separate legal counsel for the
         Investors, which counsel shall be acceptable to the Company and such
         legal counsel shall be selected by the Investors holding a majority in
         interest of the Registrable Securities included in the Registration
         Statement to which the Claim relates. The Indemnified Party or
         Indemnified Person shall cooperate fully with the indemnifying party in
         connection with any negotiation or defense of any such action or claim
         by the indemnifying party and shall furnish to the indemnifying party
         all information reasonably available to the Indemnified Party or
         Indemnified Person which relates to such action or claim. The
         indemnifying party shall keep the Indemnified Party or Indemnified
         Person fully apprised at all times as to the status of the defense or
         any settlement negotiations with respect thereto. No indemnifying party
         shall be liable for any settlement of any action, claim or proceeding
         effected without its written consent, provided, however, that the
         indemnifying party shall not unreasonably withhold, delay or condition
         its consent. No indemnifying party shall, without the consent of the
         Indemnified Party or Indemnified Person, consent to entry of any
         judgment or enter into any settlement or other compromise which does
         not include as an unconditional term thereof the giving by the claimant
         or plaintiff to such Indemnified Party or Indemnified Person of a
         release from all liability in respect to such claim or litigation.
         Following indemnification as provided for hereunder, the indemnifying
         party shall be subrogated to all rights of the Indemnified Party or
         Indemnified Person with respect to all third parties, firms or
         corporations relating to the matter for which indemnification has been
         made. The failure to deliver written notice to the indemnifying party
         within a reasonable time of the commencement of any such action shall
         relieve such indemnifying party of any liability to the Indemnified
         Person or Indemnified Party under this Section 6.

                  e. The indemnity agreements contained herein shall be in
         addition to (i) any cause of action or similar right of the Indemnified
         Party or Indemnified Person against the indemnifying party or others,
         and (ii) any liabilities the indemnifying party may be subject to
         pursuant to the law.

                  f. To the extent any indemnification by an indemnifying party
         is prohibited or limited by law, the indemnifying party agrees to make
         the maximum
<PAGE>   11
         contribution with respect to any amounts for which it would otherwise
         be liable under this Section to the fullest extent permitted by law;
         provided, however, that: (i) no contribution shall be made under
         circumstances where the maker would not have been liable for
         indemnification under the fault standards set forth in this Section;
         (ii) no seller of Registrable Securities guilty of fraudulent
         misrepresentation (within the meaning of Section 11(f) of the 1933 Act)
         shall be entitled to contribution from any seller of Registrable
         Securities who was not guilty of fraudulent misrepresentation; and
         (iii) contribution by any seller of Registrable Securities shall be
         limited in amount to the net amount of proceeds received by such seller
         from the sale of such Registrable Securities.


                                   ARTICLE IV
                                  MISCELLANEOUS

5.1 Section No Outstanding Registration Rights. The Company represents and
warrants to the Investor that there is not in effect on the date hereof any
agreement by the Company pursuant to which any holders of securities of the
Company have a right to cause the Company to register or qualify such securities
under the Securities Act or any securities or blue sky laws of any jurisdiction,
except for those disclosed in the Company's public filings.

5.1 Section Term. The obligations of the Company and the rights provided to the
holders of Registrable Securities hereunder shall terminate at such time as all
the Commitment Period has expired and any Registrable Securities theretofore
issued have ceased to be Registrable Securities in accordance with the
definition thereof contained in the Investment Agreement. Notwithstanding the
foregoing, Section 1.1(c) and (d), Article III, Section 4.8, and Section 4.9,
shall survive the termination of this Agreement.

5.2 Section Rule 144. The Company will use its commercially reasonable efforts
to file in a timely manner information, documents and reports in compliance with
the Securities Act and the Exchange Act and will, at its expense, promptly take
such further action as holders of Registrable Securities may reasonably request
to enable such holders of Registrable Securities to sell Registrable Securities
without registration under the Securities Act within the limitation of the
exemptions provided by (a) Rule 144 under the Securities Act ("Rule 144"), as
such Rule may be amended from time to time, or (b) any similar rule or
regulation hereafter adopted by the SEC. If at any time the Company is not
required to file such reports, it will, at its expense, forthwith upon the
written request of any holder of Registrable Securities, make available adequate
current public information with respect to the Company within the meaning of
paragraph (c)(2) of Rule 144 or such other information as necessary to permit
sales pursuant to
<PAGE>   12
Rule 144. Upon the request of the Investor, the Company will deliver to the
Investor a written statement, signed by the Company's principal executive or
financial officer, as to whether it has complied with such requirements.

5.3 Section Certificate. The Company will, at its expense, forthwith upon the
request of any holder of Registrable Securities, deliver to such holder a
certificate, signed by the Company's principal financial officer or other
executive officer, stating (a) the Company's name, address and telephone number
(including area code), (b) the Company's Internal Revenue Service identification
number, (c) the Company's SEC file number, (d) the number of shares of each
class of Stock outstanding as shown by the most recent report or statement
published by the Company, and (e) whether the Company has filed the reports
required to be filed under the Exchange Act for a period of at least ninety (90)
days prior to the date of such certificate and in addition has filed the most
recent annual report required to be filed thereunder.

5.4 Section Amendment and Modification. No provision of this Agreement may be
waived, unless such waiver is set forth in a writing executed by both parties to
this Agreement. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, modified or supplemented, and waivers or
consents to departures from the provisions hereof may not be given, unless the
Company has obtained the written consent of the holders of a majority of the
then outstanding Registrable Securities. Notwithstanding the foregoing, the
waiver of any provision hereof with respect to a matter that relates exclusively
to the rights of holders of Registrable Securities whose securities are being
sold pursuant to a Registration Statement and does not directly or indirectly
affect the rights of other holders of Registrable Securities may be given by
holders of at least a majority of the Registrable Securities being sold by such
holders; provided that the provisions of this sentence may not be amended,
modified or supplemented except in accordance with the provisions of the
immediately preceding sentence. No course of dealing between or among any Person
having any interest in this Agreement will be deemed effective to modify, amend
or discharge any part of this Agreement or any rights or obligations of any
person under or by reason of this Agreement.

5.5 Section Successors and Assigns; Entire Agreement. This Agreement and all of
the provisions hereof shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and permitted assigns. The
Investor may assign its rights under this Agreement to any subsequent holder of
the Registrable Securities, provided that the Company shall have the right to
require any holder of Registrable Securities to execute a counterpart of this
Agreement as a condition to such holder's claim to any rights hereunder. This
Agreement, together with the Investment Agreement, sets forth the entire
agreement and understanding between the parties as
<PAGE>   13
to the subject matter hereof and merges and supersedes all prior discussions,
agreements and understandings of any and every nature among them.

5.6 Section Severability. In the event that any provision of this Agreement
becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Agreement shall continue in full force and effect
without said provision; provided that such severability shall be ineffective if
it materially changes the economic benefit of this Agreement to any party.

5.7 Section Notices. All notices, demands, requests, consents, approvals, and
other communications required or permitted hereunder shall be in writing and,
unless otherwise specified herein, shall be (a) personally served, (b) deposited
in the mail, registered or certified, return receipt requested, postage prepaid,
(c) delivered by reputable air courier service with charges prepaid, or (d)
transmitted by hand delivery, telegram, or facsimile, addressed as set forth
below or to such other address as such party shall have specified most recently
by written notice given in accordance herewith. Any notice or other
communication required or permitted to be given hereunder shall be deemed
effective (i) upon hand delivery or delivery by facsimile, with accurate
confirmation generated by the transmitting facsimile machine, at the address or
number designated below (if delivered on a business day during normal business
hours where such notice is to be received), or the first business day following
such delivery (if delivered other than on a business day during normal business
hours where such notice is to be received) or (ii) on the second business day
following the date of mailing by express courier service or on the fifth
business day after deposited in the mail, in each case, fully prepaid, addressed
to such address, or upon actual receipt of such mailing, whichever shall first
occur. The addresses for such communications shall be:

5.8      If to the Company:

                  BioShield Technologies, Inc.
                  5655 Peachtree Parkway
                  Norcross, Georgia  30092
                  Telephone: (770) 246-2000
                  Facsimile:   (770) 368-0784

         with a copy (which shall not constitute notice) to:

                  Sims Moss Kline & Davis LLP
                  400 Northpark Town Center, Suite 310
                  1000 Abernathy Road
                  Atlanta, Georgia  30328
<PAGE>   14
                   Attention: Raymond L. Moss, Esq.
                   Telephone: (770) 481-7201
                   Facsimile: (770) 481-7210

         if to Investor:     Jackson, LLC
                             Executive Pavilion
                             90 Grove Street
                             Ridgefield, Connecticut 06877
                             Attn: Steve Hicks
                             Telephone: (203) 431-8300
                             Facsimile: (203) 431-8301

                  Either party hereto may from time to time change its address
or facsimile number for notices under this Section 4.8 by giving at least ten
(10) days' prior written notice of such changed address or facsimile number to
the other party hereto.

5.1 Section Governing Law, Jurisdiction. This Agreement shall be governed by and
interpreted in accordance with the laws of the State of Georgia without regard
to the principles of conflicts of law. The parties hereto hereby submit to the
exclusive jurisdiction of the United States Federal and state courts located in
Atlanta, Georgia, with respect to any dispute arising under this Agreement, the
agreements entered into in connection herewith or the transactions contemplated
hereby or thereby.

5.2 Section Title and Subtitles. The titles and subtitles used in this Agreement
are used for the convenience of reference and are not to be considered in
construing or interpreting this Agreement.

5.3 Section Counterparts. This Agreement may be executed in multiple
counterparts, each of which may be executed by less than all of the parties and
shall be deemed to be an original instrument which shall be enforceable against
the parties actually executing such counterparts and all of which together shall
constitute one and the same instrument. This Agreement, once executed by a
party, may be delivered to the other parties hereto by facsimile transmission of
a copy of this Agreement bearing the signature of the parties so delivering this
Agreement.

5.4 Section Further Assurances. Each party shall do and perform, or cause to be
done and performed, all such further acts and things, and shall execute and
deliver all such other agreements, certificates, instruments and documents as
the other party may reasonably request in order to carry out the intent and
accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.
<PAGE>   15
5.5 Section No Strict Construction. The language used in this Agreement will be
deemed to be the language chosen by the parties to express their mutual intent,
and no rules of strict construction will be applied against any party.
<PAGE>   16
5.6 IN WITNESS WHEREOF, the parties hereto have caused this Registration Rights
Agreement to be executed by the undersigned, thereunto duly authorized, as of
the date first set forth above.


                                    BIOSHIELD TECHNOLOGIES, INC.



                                     By:
                                         -------------------------------------
                                     Name:
                                         -------------------------------------
                                     Title:
                                         -------------------------------------



                                    JACKSON, LLC
                                    BY: SOUTHRIDGE CAPITAL MANAGEMENT LLC,
                                        GENERAL PARTNER



                                    By:
                                         -------------------------------------
                                    Name:
                                         -------------------------------------
                                    Title:
                                         -------------------------------------