REGISTRATION RIGHTS AGREEMENT


 


THIS REGISTRATION RIGHTS AGREEMENT (this
“Agreement”) is entered into as December 28, 2012, by and among Universal Business Payment Solutions Acquisition
Corporation, a Delaware corporation (the “Company”), and the undersigned party whose name appears listed under
the heading “Stockholder” on the signature page hereto.


 


1.             Definitions.


 


“Common Stock” means (i)
shares of the Common Stock, par value $0.001 per share, of the Company and (ii) any shares of capital stock of the Company issued
or issuable with respect to securities referred to in clause (i) above by way of a stock dividend or distribution payable thereon
or stock split, reverse stock split, recapitalization, reclassification, reorganization, exchange, subdivision or combination thereof.


 


“Damages” has the meaning
set forth in Section 6(a) hereof.


 


“Demand Registration” has
the meaning set forth in Section 4(a) hereof.


 


“Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time.


 


“Incidental Registration”
has the meaning set forth in Section 3(a) hereof.


 


“Prospectus” means the
prospectus included in any Registration Statement, as amended or supplemented by any prospectus supplement with respect to the
terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference in such Prospectus.


 


“Registration Expenses”
means (i) all registration and filing fees, (ii) fees and expenses of compliance with any securities or blue sky laws (including
reasonable fees and disbursements of counsel in connection with blue sky qualifications of the securities registered), (iii) printing
expenses, (iv) internal expenses of the Company (including, without limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), (v) reasonable fees and disbursements of counsel for the Company and customary fees and
expenses for independent certified public accountants retained by the Company (including the expenses relating to any comfort letters
or costs associated with the delivery by independent certified public accountants of a comfort letter or comfort letters requested
pursuant to Section 5(g) hereof), (vi) reasonable fees and expenses of any special experts retained by the Company in connection
with such registration, (vii) reasonable fees and expenses of one counsel for all of the holders of Registrable Securities participating
in the offering selected (A) by the Stockholders, or (B) in any other case, by the holders of the majority of Registrable Securities
to be sold for the account of all holders of Registrable Securities in the offering, (viii) fees and expenses in connection with
any review of underwriting arrangements by the Financial Industry Regulatory Authority (“FINRA”) including fees
and expenses of any “qualified independent underwriter” and (ix) fees and disbursements of underwriters customarily
paid by issuers or sellers of securities, but shall not include any underwriting fees, discounts or commissions attributable to
the sale of Registrable Securities, or any out-of-pocket expenses (except as set forth in clause (vii) above) of the holders of
Registrable Securities to be sold in the offering (or the agents who manage their accounts) or any fees and expenses of underwriter’s
counsel.


 






    	 



    	 



    
 


“Registration Statement”
means any registration statement of the Company which covers any of the Registrable Securities pursuant to the terms hereof, including
the Prospectus, amendments and supplements to such Registration Statement, including post-effective amendments, all exhibits and
all material incorporated by reference in such Registration Statement.


“Registrable Securities”
has the meaning set forth in Section 2 hereof.


 


“Special Registration Statement”
means (i) a registration statement on Forms S-8 or S-4 or any similar or successor form or any other registration statement relating
to an exchange offer or an offering of securities solely to the Company’s security holders, employees, directors, consultants
or other business associates or (ii) a registration statement registering a Unit Offering.


 


“Underwritten Registration”
or “Underwritten Offering” means a registration in which securities of the Company are sold to an underwriter
for reoffering to the public.


 


2.             Registrable Securities. The securities entitled to the benefits set forth herein are the Registrable Securities.
As used herein, “Registrable Securities” means the shares of Common Stock that are issued (or issuable) and outstanding
as a result of the Stockholder’s rights under that certain Share Purchase Agreement, dated as of December 28, 2012, by and
among the Company and the Stockholders; provided, however, that each share of Common Stock shall cease to be a Registrable
Security when (i) it has been effectively registered under the Securities Act and disposed of in accordance with the registration
statement covering it; (ii) it is distributed to the public pursuant to Rule 144 (or any similar provisions then in force) under
the Securities Act or all shares of Common Stock held by an Investor or its Affiliates are then distributable at one time under
Rule 144 (or any similar provisions then in force) under the Securities Act; or (iii) it has otherwise been transferred and a new
certificate or other evidence of ownership for it not bearing or requiring a legend and not subject to any stop transfer order
has been delivered by or on behalf of the Company and no other restriction on transfer exists under the Securities Act.


 


3.             Incidental Registration.


 


(a)               
Right to Include Common Stock. If at any time or from time to time following the date the Company proposes to register
any of its Common Stock under the Securities Act (other than on a Special Registration Statement), whether or not for sale for
its own account, it will each such time, as promptly as practicable following the date of filing with the Commission or other applicable
regulatory authority of a registration statement or similar document with respect to such registration, give written notice (the
“Incidental Registration Notice”) to all holders of Registrable Securities of its intention to register its
Common Stock under the Securities Act, and of such holders’ rights under this Section 3. Upon the written request of
any such holders of Registrable Securities made within five business (5) days of the date of the Incidental Registration Notice
(which request shall specify the aggregate number of the Registrable Securities to be registered and will also specify the intended
method of disposition thereof), the Company will effect the registration under the Securities Act of all Registrable Securities
which the Company has been so requested to register by the holders thereof (an “Incidental Registration”), to
the extent required to permit the public disposition (in accordance with such intended methods thereof) of the Registrable Securities
to be so registered; provided, however, that (i) if, at any time after giving written notice of its intention to
register shares of Common Stock and prior to the effective date of the registration statement filed in connection with such registration,
the Company shall determine for any reason not to register the Company’s Common Stock, the Company shall give written notice
of such determination to each holder of Registrable Securities and, thereupon, shall be relieved of its obligation to register
any Registrable Securities in connection with such registration (but not from its obligation to pay the Registration Expenses in
connection therewith); (ii) if a registration requested pursuant to this Section 3 shall involve an underwritten public offering,
any holder of Registrable Securities requesting to be included in such registration may elect, in writing at least five (5) days
prior to the effective date of the registration statement filed in connection with such registration, not to register such securities
in connection with such registration; and (iii) if, at any time after the 180-day or shorter period specified in Section 3(b),
the sale of the securities has not been completed, the Company may withdraw from the registration the Registrable Securities which
the Company has been requested to register and which have not been sold.


 






    	 



    	 



    
 


(b)              
Priority in Incidental Registrations. If a registration pursuant to Section 3(a) involves an Underwritten Offering
and the managing underwriter advises the Company in writing that, in its opinion, the total number of shares of Common Stock to
be included in such registration, including the Registrable Securities requested to be included pursuant to this Section 3, exceeds
the maximum number of shares of Common Stock specified by the managing underwriter that may be distributed without adversely affecting
the price, timing or distribution of such shares of Common Stock, then the Company shall include in such registration only such
maximum number of Registrable Securities which, in the reasonable opinion of such underwriter or underwriters, can be sold in the
following order of priority: (i) first, all of the shares of Common Stock that the Company proposes to sell for its own account,
if any, (ii) second, all of the shares of Common Stock being registered by holder(s) of Registrable Securities pursuant to a Demand
Registration (as hereinafter defined), and (iii) third, the Registrable Securities of the holder(s) of Registrable Securities requested
to be included in such Incidental Registration. To the extent that shares of Common Stock to be included in the Incidental Registration
must be allocated among the holder(s) of Registrable Securities pursuant to clause (iii) above, such shares shall be allocated
pro rata among the holder(s) of Registrable Securities based on the number of shares of Common Stock that such holder(s) of Registrable
Securities shall have requested to be included therein. Notwithstanding the foregoing, if an Incidental Registration is an Underwritten
Offering, the managing underwriter or underwriters may select shares for inclusion, or exclude shares completely, in such Incidental
Registration on a basis other than a pro rata basis if, in the reasonable opinion of such underwriter or underwriters, selection
on such other basis, or inclusion of such shares, would be material to the success of the offering.


 






    	 



    	 



    
 


(c)               
Expenses. The Company will pay all Registration Expenses in connection with any registration of Registrable Securities
requested pursuant to this Section 3.


 


(d)              
Liability for Delay. The Company shall not be held responsible for any delay in the filing or processing of a registration
statement which includes any Registrable Securities due to requests by holders of Registrable Securities pursuant to this Section
3 nor for any delay in requesting the effectiveness of such registration statement.


 


(e)               
Participation in Underwritten Registrations. No holder of Registrable Securities may participate in any Underwritten
Registration hereunder unless such holder (i) agrees to sell such holder’s Common Stock on the basis provided in any underwriting
arrangements approved by the persons who have selected the underwriter and (ii) accurately completes in a timely manner and executes
all questionnaires, powers of attorney, escrow agreements, underwriting agreements and other documents customarily required under
the terms of such underwriting arrangements.


 


4.             Demand Registration.


 


(a)               
Right to Demand Registration. Subject to Section 4(b) below, the Stockholder shall be entitled to make a written
request (“Demand Registration Request”) to the Company for registration with the Commission under and in accordance
with the provisions of the Securities Act of all or part of the Registrable Securities owned by it (a “Demand Registration”)
(which Demand Registration Request shall specify the intended number of Registrable Securities to be disposed of by such holder
and the intended method of disposition thereof); provided, however, that (i) the Company may, if the Board of Directors
so determines in the exercise of its reasonable judgment that due to a pending or contemplated acquisition or disposition or public
offering it would be inadvisable to effect such Demand Registration at such time, defer such Demand Registration for a single period
not to exceed ninety (90) days but, if requested by the party requesting such Demand Registration, the Company shall prepare for
such Demand Registration so that it will be in a position to file for such Demand Registration promptly following the expiration
of such period; provided, however, that the Company may not defer Demand Registrations more than once in any 365-day
period, and (ii) if the Company elects not to effect the Demand Registration pursuant to the terms of this sentence, no Demand
Registration shall be deemed to have occurred for purposes hereof. Promptly after receipt of the Demand Registration Request, the
Company will serve written notice (the “Demand Notice”) of such Demand Registration Request to all holders of
Registrable Securities and, subject to paragraph (c) below, the Company will include in such registration all Registrable Securities
of such holders with respect to which the Company has received written requests for inclusion therein from such holders within
five (5) business days after the receipt by the applicable holder of the Demand Notice. All requests made pursuant to this Section
4(a) will specify the aggregate number of the Registrable Securities to be registered and will also specify the intended methods
of disposition thereof.


 






    	 



    	 



    
 


(b)              
Number of Demand Registrations. The Stockholder shall be entitled to make up to three (3) Demand Registration Requests
at any time. A Demand Registration shall not be counted as a Demand Registration hereunder until such Demand Registration has been
declared effective and maintained continuously effective for a period of at least six (6) months or such shorter period when all
Registrable Securities included therein have been sold in accordance with such Demand Registration.


 


(c)               
Priority on Demand Registration. If any of the Registrable Securities proposed to be registered pursuant to a Demand
Registration are to be sold in a firm commitment Underwritten Offering and the managing underwriter or underwriters of a Demand
Registration advise the Company and the holders of such Registrable Securities in writing that in its or their reasonable opinion
the number of shares of Common Stock proposed to be sold in such Demand Registration exceeds the maximum number of shares specified
by the managing underwriter that may be distributed without adversely affecting the price, timing or distribution of the Common
Stock, the Company shall include in such registration only such maximum number of Registrable Securities which, in the reasonable
opinion of such underwriter or underwriters can be sold in the following order of priority: (i) first, the Registrable Securities
requested to be included in such Demand Registration held by the party requesting such Demand Registration and such party’s
Permitted Transferees; (ii) second, shares of Common Stock to be offered by the Company in such Demand Registration; and (iii)
third, shares of Common Stock requested to be included in such Demand Registration held by all other holders of Common Stock, provided
that such amount shall be allocated among such other holders as provided in Section 3(b).


 


(d)              
Expenses. The Company will pay all Registration Expenses in connection with any registration of Registrable Securities
requested pursuant to this Section 4.


 


5.             Registration Procedures. If and whenever the Company is required to effect or cause the registration of any Registrable
Securities under the Securities Act as provided herein, the Company will, as expeditiously as possible:


 


(a)               
prepare and file with the Commission a registration statement with respect to such Registrable Securities, and use its best
efforts to cause such registration statement to become effective; provided, however, that the Company may discontinue
any registration of its securities which is being effected pursuant to Sections 3 or 4 herein at any time prior to the effective
date of the registration statement relating thereto, provided, however, that any such discontinuance is conducted
in accordance with all other applicable provisions hereof;


 


(b)              
prepare and file with the Commission 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 a period of not less than 180 days
or such shorter period which will terminate when all Registrable Securities covered by such registration statement have been sold
(but not before the expiration of the applicable period referred to in Section 4(3) of the Securities Act and Rule 174 thereunder,
if applicable) and 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 seller or sellers
thereof set forth in such registration statement;


 






    	 



    	 



    
 


(c)               
furnish to each seller of such Registrable Securities such number of copies of such registration statement and of each such
amendment and supplement thereof (in each case including all exhibits), such number of copies of the prospectus included in such
registration statement (including each preliminary prospectus and summary prospectus), in conformity with the requirements of the
Securities Act, and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable
Securities by such seller;


 


(d)              
use its best efforts to register or qualify such Registrable Securities covered by such registration statement under such
other securities or blue sky laws of such jurisdictions as each seller shall request, and do any and all other acts and things
which may be necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable
Securities owned by such seller; provided, however, that the Company shall not be required to qualify generally to
do business in any jurisdiction where it is not then so qualified or subject itself to general taxation in any jurisdiction where
it is not then so subject;


 


(e)               
immediately notify each seller of any Registrable Securities covered by such registration statement, at any time when a
prospectus relating thereto is required to be delivered under the Act within the appropriate period mentioned in clause (b) of
this Section 5, of the Company becoming aware that the prospectus included in such registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances then existing, and within ten (10) days prepare and furnish
to all sellers a reasonable number of copies of an amended or supplemental prospectus as may be necessary so that, as thereafter
delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading
in the light of the circumstances then existing;


 


(f)               
The Company will have the right, in its sole discretion, to select an underwriter or underwriters. In connection with any
Public Offering, the Company will enter into customary agreements (including an underwriting agreement in customary form) and take
such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities
in any such Public Offering, including the engagement of a “qualified independent underwriter” in connection with the
qualification of the underwriting arrangements with the FINRA;


 


(g)              
if such Registrable Securities are not already listed or quoted and if such listing is then permitted under the rules of
an exchange on which the Common Stock is then listed, use its best efforts to list such Registrable Securities on any securities
exchange on which the Common Stock is then listed, and provide an independent transfer agent and registrar for such Registrable
Securities covered by such registration statement not later than the effective date of such registration statement;


 






    	 



    	 



    
 


(h)              
furnish to each seller of Registrable Securities covered by such registration statement a signed counterpart, addressed
to such seller (and the underwriters, if any) of:


 


 (i)an opinion of counsel for the
Company, dated the effective date of such registration statement (or, if such registration involves an underwritten public offering,
dated the date of the closing under the underwriting agreement), reasonably satisfactory in form and substance to the sellers
of not less than fifty percent (50%) of such Registrable Securities (and the managing underwriter, if any); and


 


(ii) a “comfort”
letter, dated the effective date of such registration statement (and, if such registration involves an underwritten public offering,
dated the date of the closing under the underwriting agreement), signed by the independent public accountants who have certified
the Company’s financial statements included in such registration statement, covering such matters with respect to such registration
statement as are customarily covered in accountants’ letters delivered to the underwriters in underwritten offerings of securities
as may reasonably be requested by the sellers of not less than fifty percent (50%) of such Registrable Securities (and the managing
underwriter, if any);


 


(i)                
make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any
underwriter participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant
or other agent retained by any such seller or any such underwriter (individually, an “Inspector” and collectively,
the “Inspectors”), all pertinent financial and other records, pertinent corporate documents and properties of
the Company as shall be reasonably necessary to enable them to exercise their due diligence responsibility (collectively, the “Records”),
and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such
seller, underwriter, attorney, accountant or agent in connection with such registration statement; provided, however,
that any Records that are designated by the Company in writing as confidential shall be kept confidential by the Inspectors unless
(i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such registration statement or
(ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or by
any regulatory authority having jurisdiction. Each Investor agrees that non-public information obtained by it as a result of such
Inspections shall be deemed confidential and acknowledges its obligations under the Federal securities laws not to trade any securities
of the Company on the basis of material non-public information; and


 


(j)                
cause appropriate officers of the Company to (i) prepare and make presentations at any “road shows” and before
analysts and rating agencies, as the case may be, (ii) take other actions to obtain ratings for any Registrable Securities and
(iii) otherwise use their reasonable best efforts to cooperate as reasonably requested by the underwriters in the offering, marketing
or selling of the Registrable Securities.


 






    	 



    	 



    
 


(k)              
The Company may require each seller of Registrable Securities as to which any registration is being effected promptly to
furnish to the Company such information regarding the distribution of such Registrable Securities as may be legally required. Such
information shall be furnished in writing and shall state that it is being furnished for use in the registration statement.


 


(l)                
Each holder of Registrable Securities agrees by acquisition of such Registrable Securities that, upon receipt of any notice
from the Company of the happening of any event of the kind described in clause (e) of this Section 5, such holder will forthwith
discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until
such holder’s receipt of the copies of the supplemented or amended prospectus contemplated by clause (e) of this Section 5,
and, if so directed by the Company, such holder will deliver to the Company (at the Company’s expense) all copies, other
than permanent file copies then in such holder’s possession, of the prospectus covering such Registrable Securities current
at the time of receipt of the Company’s notice. In the event the Company shall give any such notice, the period mentioned
in clause (b) of this Section 5 shall be extended by the number of days during the period from and including the date of the giving
of such notice pursuant to clause (e) of this Section 5 and including the date when each seller of Registrable Securities covered
by such registration statement shall have received the copies of the supplemented or amended prospectus contemplated by clause
(e) of this Section 5.


 


6.             Indemnification.


 


(a)               
Indemnification by the Company. The Company hereby agrees to indemnify and hold harmless each holder of Registrable
Securities which shall have been registered under the Securities Act, and such holder’s officers, directors and agents and
each other Person, if any, who controls such holder within the meaning of the Securities Act and each other Person (including underwriters)
who participates in the offering of such Registrable Securities against any losses, claims, damages, liabilities, reasonable attorneys’
fees, costs or expenses (collectively, the “Damages”), joint or several, to which such holder or controlling
Person or participating Person may become subject under the Securities Act or otherwise, insofar as such Damages (or proceedings
in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact made by
the Company or its agents contained in any registration statement under which such Registrable Securities are registered under
the Securities Act, in any preliminary prospectus or final prospectus contained therein, or in any amendment or supplement thereof,
or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, and will reimburse such holder of Registrable Securities or such controlling
Person or participating Person in connection with investigating or defending any such Damages or proceeding; provided, however,
that the Company will not be liable in any such case to the extent that any such Damages arise out of or are based upon (i) an
untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, such preliminary
or final prospectus or such amendment or supplement in reliance upon and in conformity with written information furnished to the
Company by such holder or such controlling or participating Person, as the case may be, specifically for inclusion in any such
document; or (ii) an untrue statement or alleged untrue statement, omission or alleged omission in a prospectus if such untrue
statement or alleged untrue statement, omission or alleged omission is corrected in an amendment or supplement to the prospectus
which amendment or supplement is delivered to such holder in a timely manner and such holder thereafter fails to deliver such prospectus
as so amended or supplemented prior to or concurrently with the sale of such Registrable Securities to the Person asserting such
Damages and such Damages would have been avoided if such holder had so delivered such prospectus as so amended or supplemented.


 






    	 



    	 



    
 


(b)              
Indemnification by the Holders of Registrable Securities Which Are Registered. It shall be a condition of the Company’s
obligations herein to effect any registration under the Securities Act that there shall have been delivered to the Company an agreement
or agreements duly executed by each holder of Registrable Securities to be so registered, whereby such holder agrees to indemnify
and hold harmless the Company, its directors, officers and agents and each other Person, if any, which controls the Company within
the meaning of the Securities Act against any Damages, joint or several, to which the Company, or such other Person or such Person
controlling the Company may become subject under the Securities Act or otherwise, but only to the extent that such Damages (or
proceedings in respect thereof) arise out of or are based upon any untrue statements or alleged untrue statement of any material
fact contained, on the effective date thereof, in any registration statement under which such Registrable Securities are registered
under the Securities Act, in any preliminary prospectus or final prospectus contained therein or in any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, which, in each such case, has been made in or omitted from
such registration statement, such preliminary or final prospectus or such amendment or supplement in reliance upon, and in conformity
with, written information furnished to the Company by such holder of Registrable Securities specifically for inclusion in such
document. The Company shall be entitled to receive indemnities from underwriters, selling brokers, dealer managers and similar
securities industry professionals participating in the distribution, to the same extent as provided above, with respect to information
furnished in writing by such Persons specifically for inclusion in any prospectus or registration statement.


 


(c)               
Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder shall (i) give prompt written
notice to the indemnifying party of the commencement of any action or proceeding involving a claim referred to in the preceding
Sections 6(a) and 6(b); and (ii) unless the indemnified party has been advised by its counsel that a conflict of interest exists
between such indemnified and indemnifying parties with respect to such claim, permit such indemnifying party to assume the defense
of such claim with counsel reasonably satisfactory to the indemnified party. Whether or not such defense is assumed by the indemnifying
party, the indemnifying party will not be subject to any liability for any settlement made without its consent (but such consent
will not be unreasonably withheld). No indemnifying party will consent to the entry of any judgment or enter into any settlement
which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a
release from all liability in respect of such claim or litigation; provided, however, that no indemnifying party
will consent to the entry of any judgment or enter into any settlement (other than for the payment of money only) without the consent
of the indemnified party (which consent will not be unreasonably withheld). An indemnifying party who is not entitled to, or elects
not to, assume the defense of the claim, will not be obligated to pay the fees and expenses of more than one counsel for all parties
indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a
conflict of interest may exist between such indemnified party and any other such indemnified parties with respect to such claim,
in which event the indemnifying party shall be obligated to pay the fees and expenses of such additional counsel or counsels.


 






    	 



    	 



    
 


(d)              
Contribution. If for any reason the indemnification provided for in the preceding Sections 6(a) or 6(b) is unavailable
to an indemnified party in respect of any Damages referred to therein, the indemnifying party shall contribute to the amount paid
or payable by the indemnified party as a result of such Damages in such proportion as is appropriate to reflect not only the relative
benefits received by the indemnified party and the indemnifying party, but also the relative fault of the indemnified party and
the indemnifying party, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and
indemnified parties shall be determined by reference to, among other things, whether any action in question, including any untrue
or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made by, or relates
to information supplied by, such indemnifying party or indemnified parties, and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action; provided, however, that in no event shall
the liability of any selling holder of Registrable Securities hereunder be greater in amount than the difference between the dollar
amount of the proceeds received by such holder upon the sale of the Registrable Securities giving rise to such contribution obligation
and all amounts previously contributed by such holder with respect to such Damages. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of fraudulent misrepresentation.


 


7.             Hold-Back Agreements.


 


(a)               
Restrictions on Public Sale by Company and Holders of Common Stock. The Company and each holder of Common Stock whose
Common Stock is eligible for inclusion in a Registration Statement filed pursuant to Sections 3 or 4, if requested by the managing
underwriter or underwriters in an Underwritten Offering of any Registrable Securities, agrees not to, directly or indirectly (except
with respect to the Company in connection with a Special Registration Statement), (i) offer for sale, sell, pledge or otherwise
dispose of (or enter into any transaction or device that is designed to, or could be expected to, result in the disposition by
any person at any time in the future of) any Common Stock (including, without limitation, Common Stock that may be deemed to be
beneficially owned by the undersigned in accordance with the rules and regulations of the Commission and Common Stock that may
be issued upon exercise of any option or warrant) or securities convertible into or exchangeable for Common Stock , or (ii) enter
into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or
risks of ownership of such Common Stock , whether any such transaction described in clause (i) or (ii) above is to be settled by
delivery of Common Stock or other securities, in cash or otherwise, during the ten (10) day period prior to, and for a period of
180 days after, the effective date of the Registration Statement, to the extent timely notified in writing by the managing underwriter,
or, with respect to each such holder of Common Stock, the Company. Additionally, the Company agrees to use reasonable efforts to
cause each holder of Common Stock purchased from the Company at any time after the date of the Agreement (other than in a registered
public offering) to agree to the provisions of this Section 7(a).


 






    	 



    	 



    
 


(b)              
Certain Holders of Registrable Securities Excepted. The provisions of Section 7(a) shall not apply to any holder
of Registrable Securities if such holder is prevented by applicable statute or regulation from entering into any such agreement;
provided, however, that any such holder shall undertake, in its request to participate in any such Underwritten Offering,
not to effect any public sale or distribution of Registrable Securities (except as part of such Underwritten Registration) during
such period unless it has provided forty-five (45) days prior written notice of such sale or distribution to the managing underwriter
or underwriter.


 


8.                                         
Underwritten Registration. If any of the Registrable Securities covered by any Incidental Registration or a Demand
Registration are to be sold in an Underwritten Offering, the investment banker or investment bankers and manager or managers that
will administer the offering will be selected by the Company. Notwithstanding anything herein to the contrary, no Person may participate
in any Underwritten Registration hereunder unless such Person (a) agrees to sell such Person’s securities on the basis provided
in any underwritten arrangements approved by the Persons entitled hereunder to approve such arrangement and (b) accurately completes
and executes all questionnaires, powers of attorney, indemnities, custody agreements, underwriting agreements and other documents
required under the terms of such underwriting arrangements.


 


 


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IN WITNESS WHEREOF,
each Stockholder and the Company has caused its signature page to this Registration Rights Agreement to be duly executed as of
the date first written above.


 


 





	 	COMPANY:
	 	 
	 	UNIVERSAL BUSINESS PAYMENT SOLUTIONS ACQUISITION CORPORATION
	 	 
	 	By:                                                                          
	 	Name:  Bipin C. Shah
	 	Title:    Chairman and Chief Executive Officer


 



    	 



    	 



    

 


 


	STOCKHOLDER:
	
         

         

	By:                                                                           
	Name: 
	
        Address:

        Facsimile: