Registration Rights Agreement



 Exhibit 10.3 
  
 DATREK MILLER INTERNATIONAL, INC. 
 a Florida corporation 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 THIS
REGISTRATION RIGHTS AGREEMENT, dated as of November 30, 2005 (the “Agreement”), is entered into by and among Datrek Miller International, Inc., a Florida corporation (the
“Company”), and the holders (the “Investors”) of the Company’s capital stock and Warrants set forth on the signature page hereof. Capitalized terms not defined herein shall have the
meanings ascribed to them in the Preferred Stock Purchase Agreement (as hereinafter defined). 
  
 WHEREAS, simultaneously with the execution and delivery of this Agreement, the Investors are agreeing to purchase from the Company, pursuant to the Preferred Stock Purchase Agreement dated as of
November 30, 2005 between the Company and Stanford International Bank Ltd., an Antiguan banking corporation (the “Preferred Stock Purchase Agreement”) up to 4,000,000 shares of the Series B Preferred Stock and Warrants
to purchase up to 2,400,000 shares of the Company’s common stock, par value $.001 (the “Common Stock”); and 
  
 WHEREAS, the Investors have further agreed to subscribe to an additional 500,000 shares of parity preferred stock, to be designated Series C $2.00
Convertible Preferred Stock when authorized by the Company (the “Series C Preferred Stock”), and warrants to purchase an additional 300,000 shares of Common Stock for an aggregate purchase price of $1,000,000 on the same
terms and conditions set forth herein; and 
  
 WHEREAS, the
Company desires to grant to the Investors the registration rights set forth herein with respect to the shares of Common Stock issuable upon conversion of the Series B Preferred Stock and the Series C Preferred Stock (the “Conversion
Shares”), the shares of Common Stock issuable upon exercise of the Warrants (including the warrants issued in connection with the purchase of the shares of Series C Preferred Stock) (the “Warrant
Shares”), the shares of Common Stock issuable upon the exercise of the warrants issuable in the event of a registration default pursuant to Section 4(e) (the “Default Warrant Shares”) and the
shares of Common Stock issued as a dividend or other distribution with respect to the Conversion Shares, Warrant Shares or Default Warrant Shares (the “Distribution Shares”) (all the shares of the Series B Preferred
Stock, the Conversion Shares, the Merger Shares, the Warrant Shares, the Default Warrant Shares and the Distribution Shares, collectively and interchangeably, are referred to herein as the “Securities”). 
  
 NOW, THEREFORE, the parties hereto mutually agree as follows:

  

	 	1.	CERTAIN DEFINITIONS 

  
 As used herein the term “Registrable Security” means the Conversion Shares, Warrant Shares, Default Warrant Shares and the
Distribution Shares, until (i) the Registration Statement 








 
(as defined below) has been declared effective by the Securities and Exchange Commission (the “Commission”), and all
Securities have been disposed of pursuant to the Registration Statement, (ii) all Securities have been sold under circumstances under which all of the applicable conditions of Rule 144 (“Rule 144”) (or any similar
provision then in force) under the Securities Act of 1933, as amended (the “Securities Act”) are met, or (iii) such time as, in the opinion of counsel to the Company reasonably satisfactory to the Investors and
upon delivery to the Investors of such executed opinion, all Securities may be sold without any time, volume or manner limitations pursuant to Rule 144 (or any similar provision then in effect). In the event of any merger, reorganization,
consolidation, recapitalization or other change in corporate structure affecting the Common Stock, such adjustment shall be deemed to be made in the definition of “Registrable Security” as is appropriate in order to prevent any dilution or
enlargement of the rights granted pursuant to this Agreement. As used herein the term “Holder” means any Person owning or having the right to acquire Registrable Securities or any assignee thereof in accordance with
Section 10 hereof. As used herein “Trading Day” shall mean any business day on which the market on which the Common Stock trades is open for business. 
  

	 	2.	RESTRICTIONS ON TRANSFER 

  
 Each of the Investors acknowledges and understands that prior to the registration of the Securities as provided herein, the Securities are
“restricted securities” as defined in Rule 144. Each of the Investors understands that no disposition or transfer of the Securities may be made by any of the Investors in the absence of (i) an opinion of counsel to such Investor, in
form and substance reasonably satisfactory to the Company, that such transfer may be made without registration under the Securities Act or (ii) such registration. 
  

	 	3.	COMPLIANCE WITH REPORTING REQUIREMENTS 

  
 With a view to making available to the Investors the benefits of Rule 144 or any other similar rule or regulation of the Commission that may at any time
permit the holders of the Securities to sell securities of the Company to the public pursuant to Rule 144, the Company agrees to: 
  
 (a) comply with the provisions of paragraph (c)(1) of Rule 144; 
  

(b) file with the Commission in a timely manner all reports and other documents required to be filed with the Commission pursuant to Section 13 or
15(d) under the Securities Exchange Act of 1934 (the “Exchange Act”) by companies subject to either of such sections, irrespective of whether the Company is then subject to such reporting requirements; and 

 
 (c) Upon request by any Holder or the Company’s transfer agent, the
Company shall provide an opinion of counsel, which opinion shall be reasonably acceptable to the Holder and/or the Company’s transfer agent, that such Holder has complied with the applicable conditions of Rule 144 (or any similar provision then
in force). 








	 	4.	REGISTRATION RIGHTS WITH RESPECT TO THE REGISTRABLE SECURITIES 

  
 (a) The Company agrees that it will prepare and file with the Commission, (i) within 90 calendar days from the date of demand, a registration
statement (on Form S-1 or SB-2, or other appropriate registration statement form) under the Securities Act (the “Registration Statement”), and (ii) if at least 20% of the Registrable Securities covered under the
Registration Statement filed under (i) remain unsold during the effective period of such Registration Statement, then within 20 days following receipt of a written notice from the holders representing a majority of such unsold Registrable
Securities, another Registration Statement so as to permit a resale of the Securities under the Securities Act by the Holders as selling stockholders and not as underwriters. 
  
 The Company shall use diligent best efforts to cause the Registration Statement to become effective as soon as practical
following the filing of the Registration Statement. The Company will notify the Holders and its transfer agent of the effectiveness of the Registration Statement within one Trading Day of such event. 
  
 (b) The Company will maintain the Registration Statement or post-effective
amendment filed under this Section 4 effective under the Securities Act until the earlier of (i) the date that none of the Registrable Securities covered by such Registration Statement are or may become issued and outstanding,
(ii) the date that all of the Registrable Securities have been sold pursuant to such Registration Statement, (iii) the date all the Holders receive an opinion of counsel to the Company, which counsel shall be reasonably acceptable to the
Holders, that the Registrable Securities may be sold under the provisions of Rule 144 without limitation as to volume, (iv) all Registrable Securities have been otherwise transferred to persons who may trade such shares without restriction
under the Securities Act, and the Company has delivered a new certificate or other evidence of ownership for such securities not bearing a restrictive legend, or (v) two years from the Effective Date. 
  
 (c) All fees, disbursements and out-of-pocket expenses and costs incurred by
the Company in connection with the preparation and filing of the Registration Statement under this Section 4 and in complying with applicable securities and blue sky laws (including, without limitation, all attorneys’ fees of the Company)
shall be borne by the Company. The Company shall also reimburse the fees and expenses of counsel to the Holders incurred in connection with such counsel’s review of the Registration Statement and advice concerning the Registration Statement and
its filing subject to a cap of $15,000. The Holders shall bear the cost of underwriting and/or brokerage discounts, fees and commissions, if any, applicable to the Registrable Securities being registered. The Holders and their counsel shall have a
reasonable period, not to exceed 15 Trading Days, to review the proposed Registration Statement or any amendment thereto, prior to filing with the Commission, and the Company shall provide the Holders with copies of any comment letters received from
the Commission with respect thereto within two Trading Days of receipt thereof. The Company shall qualify any of the Registrable Securities for sale in such states as the Holders reasonably designate and shall furnish indemnification in the manner
provided in Section 7 hereof. However, the Company shall not be required to qualify in any state which will require an escrow or other restriction relating to the Company and/or the Holders, or which will require the Company to qualify to do
business in 








 
such state or require the Company to file therein any general consent to service of process. The Company at its expense will supply each of the Investors
with copies of the applicable Registration Statement and the prospectus included therein and other related documents in such quantities as may be reasonably requested by any of the Investors. 
  
 (d) The Company shall not be required by this Section 4 to include the
Registrable Securities in any Registration Statement which is to be filed if, in the opinion of counsel for both the Holders and the Company (or, should they not agree, in the opinion of another counsel experienced in securities law matters
acceptable to counsel for the Holders and the Company) the proposed offering or other transfer as to which such registration is requested is exempt from applicable federal and state securities laws and would result in all purchasers or transferees
obtaining securities which are not “restricted securities,” as defined in Rule 144. 
  
 (e) In the event that (i) the Registration Statement is not filed by the Company in a timely manner as set forth in Section 4(a); or (ii) such Registration Statement is not maintained as effective by
the Company for the period set forth in Section 4(b) above (each a “Registration Default”), then the Company will issue to each of the Holders as of the first day of such Registration Default and for every
consecutive month in which such Registration Default is occurring, as liquidated damages, and not as a penalty, warrants to purchase one (1) share of the Common Stock (“Default Warrants”) for each share of Series
B Preferred Stock issued to the Holders pursuant to the Preferred Stock Purchase Agreement until such corresponding Registration Default no longer exists (“Liquidated Damages”); provided, however, that the issuance of
such Default Warrants shall not relieve the Company from its obligations to register the Registrable Securities pursuant to this Section. 
  
 If the Company does not issue the Default Warrants to the Holders as set forth above, the Company will pay any Holder’s reasonable costs of any
action in a court of law to cause compliance with this Section 4(e), including reasonable attorneys’ fees, in addition to the Default Warrants. The registration of the Registrable Securities pursuant to this Section shall not affect or
limit a Holder’s other rights or remedies as set forth in this Agreement. 
  
 (f) The Company shall be precluded from including in any Registration Statement which it is required to file pursuant to this Section 4 any other securities apart from the Registrable Securities, without the
prior written consent of the Holders. 
  
 (g) If, at any time any
Registrable Securities are not at the time covered by any effective Registration Statement, the Company shall determine to register under the Securities Act (including pursuant to a demand of any stockholder of the Company exercising registration
rights) any of its shares of the Common Stock (other than in connection with a merger or other business combination transaction that has been consented to in writing by holders of the Series B Preferred Stock, or pursuant to Form S-8 when such
filing has been consented to in writing by holders of the Series B Preferred Stock), it shall send to each Holder written notice of such determination and, if within 20 days after receipt of such notice, such Holder shall so request in writing, the
Company shall its best efforts to include in such registration statement all or any part of the Registrable Securities that such Holder requests to be registered. Notwithstanding the foregoing, if, in connection with any offering involving an
underwriting of the Common Stock to by issued by the Company, the managing underwriter 








 
shall impose a limitation on the number of shares of the Common Stock included in any such registration statement because, in such underwriter’s
judgment, such limitation is necessary based on market conditions: (a) if the registration statement is for a public offering of common stock on a “firm commitment” basis with gross proceeds to the Company of at least $15,000,000 (a
“Qualified Public Offering”), the Company may exclude, to the extent so advised by the underwriters, the Registrable Securities from the underwriting; provided, however, that if the underwriters do not entirely exclude
the Registrable Securities from such Qualified Public Offering, the Company shall be obligated to include in such registration statement, with respect to the requesting Holder, only an amount of Registrable Securities equal to the product of
(i) the number of Registrable Securities that remain available for registration after the underwriter’s cutback and (ii) such Holder’s percentage of ownership of all the Registrable Securities then outstanding (on an as-converted
basis) (the “Registrable Percentage”); and (b) if the registration statement is not for a Qualified Public Offering, the Company shall be obligated to include in such registration statement, with respect to the
requesting Holder, only an amount of Registrable Securities equal to the product of (i) the number of Registrable Securities that remain available for registration after the underwriter’s cutback and (ii) such Holder’s
Registrable Percentage; provided, however, that the aggregate value of the Registrable Securities to be included in such registration may not be so reduced to less than 30% of the total value of all securities included in such registration. If any
Holder disapproves of the terms of any underwriting referred to in this paragraph, it may elect to withdraw therefrom by written notice to the Company and the underwriter. No incidental right under this paragraph shall be construed to limit any
registration required under the other provisions of this Agreement. 
  

	 	5.	COOPERATION WITH COMPANY 

  
 Each Holder will cooperate with the Company in all respects in connection with this Agreement, including timely supplying all information reasonably
requested by the Company (which shall include all information regarding such Holder and proposed manner of sale of the Registrable Securities required to be disclosed in any Registration Statement) and executing and returning all documents
reasonably requested in connection with the registration and sale of the Registrable Securities and entering into and performing its obligations under any underwriting agreement, if the offering is an underwritten offering, in usual and customary
form, with the managing underwriter or underwriters of such underwritten offering. Nothing in this Agreement shall obligate any Holder to consent to be named as an underwriter in any Registration Statement. The obligation of the Company to register
the Registrable Securities shall be absolute and unconditional as to those Registrable Securities which the Commission will permit to be registered without naming any Holder as underwriters. Any delay or delays caused by a Holder by failure to
cooperate as required hereunder shall not constitute a Registration Default as to such Holder. 
  

	 	6.	REGISTRATION PROCEDURES 

  
 If and whenever the Company is required by any of the provisions of this Agreement to effect the registration of any of the Registrable Securities under
the Securities Act, the Company shall (except as otherwise provided in this Agreement), as expeditiously as possible, subject to the Holders’ assistance and cooperation as reasonably required with respect to each Registration Statement:








 (a) (i) prepare and file with the Commission such amendments and supplements to the Registration
Statement and the prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all Registrable
Securities covered by such Registration Statement whenever any of the Holder shall desire to sell or otherwise dispose of the same (including prospectus supplements with respect to the sales of Registrable Securities from time to time in connection
with a registration statement pursuant to Rule 415 promulgated under the Securities Act) and (ii) take all lawful action such that each of (A) the Registration Statement and any amendment thereto does not, when it becomes effective,
contain 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, in light of the circumstances under which they were made, not misleading and (B) the
prospectus forming part of the Registration Statement, and any amendment or supplement thereto, does not at any time during the Registration Period 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, in light of the circumstances under which they were made, not misleading; 
  
 (b) (i) prior to the filing with the Commission of any Registration Statement (including any amendments thereto) and the distribution or delivery of any
prospectus (including any supplements thereto), provide draft copies thereof to the Holders as required by Section 4(c) and reflect in such documents all such comments as the Holders (and their counsel) reasonably may propose; (ii) furnish
to each of the Holders such numbers of copies of a prospectus including a preliminary prospectus or any amendment or supplement to any prospectus, as applicable, in conformity with the requirements of the Securities Act, and such other documents, as
any of the Holders may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such Holder; and (iii) provide to the Holders copies of any comments and communications from the
Commission relating to the Registration Statement, if lawful to do so; 
  
 (c) register and qualify the Registrable Securities covered by the Registration Statement under such other securities or blue sky laws of such jurisdictions as any of the Holders shall reasonably request (subject to the limitations set
forth in Section 4(c) above), and do any and all other acts and things which may be necessary or advisable to enable such Holder to consummate the public sale or other disposition in such jurisdiction of the Registrable Securities owned by such
Holder; 
  
 (d) list such Registrable Securities on the markets
where the Common Stock of the Company is listed as of the effective date of the Registration Statement, if the listing of such Registrable Securities is then permitted under the rules of such markets; 
  
 (e) notify the Holders at any time when a prospectus relating thereto
covered by the Registration Statement is required to be delivered under the Securities Act, of the happening of any event of which it has knowledge as a result of which the prospectus included in the 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 the Company shall prepare
and file a curative amendment under Section 6(a) as quickly as reasonably possible and 








 
during such period, the Holders shall not make any sales of Registrable Securities pursuant to the Registration Statement; 
  
 (f) after becoming aware of such event, notify each of the Holders who holds
Registrable Securities being sold (or, in the event of an underwritten offering, the managing underwriters) of the issuance by the Commission of any stop order or other suspension of the effectiveness of the Registration Statement at the earliest
possible time and take all lawful action to effect the withdrawal, rescission or removal of such stop order or other suspension; 
  
 (g) cooperate with the Holders to facilitate the timely preparation and delivery of certificates for the Registrable Securities to be offered pursuant to
the Registration Statement and enable such certificates for the Registrable Securities to be in such denominations or amounts, as the case may be, as any of the Holders reasonably may request and registered in such names as any of the Holders may
request; and, within three Trading Days after a Registration Statement which includes Registrable Securities is declared effective by the Commission, deliver and cause legal counsel selected by the Company to deliver to the transfer agent for the
Registrable Securities (with copies to the Holders) an appropriate instruction and, to the extent necessary, an opinion of such counsel; 
  
 (h) take all such other lawful actions reasonably necessary to expedite and facilitate the disposition by the Holders of their Registrable Securities in
accordance with the intended methods therefor provided in the prospectus which are customary for issuers to perform under the circumstances; 
  
 (i) in the event of an underwritten offering, promptly include or incorporate in a prospectus supplement or post-effective amendment to the Registration
Statement such information as the managers reasonably agree should be included therein and to which the Company does not reasonably object and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable
after it is notified of the matters to be included or incorporated in such prospectus supplement or post-effective amendment; and 
  
 (j) maintain a transfer agent and registrar for the Common Stock. 
  


	 	7.	INDEMNIFICATION 

  
 (a) To the maximum extent permitted by law, the Company agrees to indemnify and hold harmless each of the Holders, each person, if any, who controls any
of the Holders within the meaning of the Securities Act, and each director, officer, shareholder, employee, agent, representative, accountant or attorney of the foregoing (each of such indemnified parties, a “Distributing
Investor”) against any losses, claims, damages or liabilities, joint or several (which shall, for all purposes of this Agreement, include, but not be limited to, all reasonable costs of defense and investigation and all reasonable
attorneys’ fees and expenses), to which the Distributing Investor may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement, or any related final prospectus or 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; provided, however, that the Company will not be liable in any such
case to the extent, and only to the extent, that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such Registration Statement,
preliminary prospectus, final prospectus or amendment or supplement thereto in reliance upon, and in conformity with, written information furnished to the Company by the Distributing Investor, its counsel, or affiliates, specifically for use in the
preparation thereof or (ii) by such Distributing Investor’s failure to deliver to the purchaser a copy of the most recent prospectus (including any amendments or supplements thereto). This indemnity agreement will be in addition to any
liability which the Company may otherwise have. 
  
 (b) To the
maximum extent permitted by law, each Distributing Investor agrees that it will indemnify and hold harmless the Company, and each officer and director of the Company or person, if any, who controls the Company within the meaning of the Securities
Act, against any losses, claims, damages or liabilities (which shall, for all purposes of this Agreement, include, but not be limited to, all reasonable costs of defense and investigation and all reasonable attorneys’ fees and expenses) to
which the Company or any such officer, director or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any
untrue statement or alleged untrue statement of any material fact contained in any Registration Statement, or any related final prospectus or amendment or supplement thereto, or arise out of or are based upon the omission or the alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but in each case only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission was
made in such Registration Statement, final prospectus or amendment or supplement thereto in reliance upon, and in conformity with, written information furnished to the Company by such Distributing Investor, its counsel or affiliates, specifically
for use in the preparation thereof. This indemnity agreement will be in addition to any liability which the Distributing Investor may otherwise have under this Agreement. Notwithstanding anything to the contrary herein, the Distributing Investor
shall be liable under this Section 7(b) for only that amount as does not exceed the net proceeds to such Distributing Investor as a result of the sale of Registrable Securities pursuant to the Registration Statement. 
  
 (c) Promptly after receipt by an indemnified party under this Section 7
of notice of the commencement of any action against such indemnified party, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 7, notify the indemnifying party in writing
of the commencement thereof; but the omission so to notify the indemnifying party will not relieve the indemnifying party from any liability which it may have to any indemnified party except to the extent the failure of the indemnified party to
provide such written notification actually prejudices the ability of the indemnifying party to defend such action. In case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof,
the indemnifying party will be entitled to participate in, and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, assume the defense thereof, subject to the provisions herein stated and after notice from
the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party under this Section 7 for any legal or other expenses subsequently incurred by









 
such indemnified party in connection with the defense thereof other than reasonable costs of investigation, unless the indemnifying party shall not pursue
the action to its final conclusion. The indemnified parties shall have the right to employ one or more separate counsel in any such action and to participate in the defense thereof, but the fees and expenses of such counsel shall not be at the
expense of the indemnifying party if the indemnifying party has assumed the defense of the action with counsel reasonably satisfactory to the indemnified party unless (i) the employment of such counsel has been specifically authorized in
writing by the indemnifying party, or (ii) the named parties to any such action (including any interpleaded parties) include both the indemnified party and the indemnifying party and the indemnified party shall have been advised by its counsel
that there may be one or more legal defenses available to the indemnifying party different from or in conflict with any legal defenses which may be available to the indemnified party or any other indemnified party (in which case the indemnifying
party shall not have the right to assume the defense of such action on behalf of such indemnified party, it being understood, however, that the indemnifying party shall, in connection with any one such action or separate but substantially similar or
related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable only for the reasonable fees and expenses of one separate firm of attorneys for the indemnified party, which firm shall be designated in
writing by the indemnified party). No settlement of any action against an indemnified party shall be made without the prior written consent of the indemnified party, which consent shall not be unreasonably withheld so long as such settlement
includes a full release of claims against the indemnified party. 
  
 All fees and expenses of the indemnified party (including reasonable costs of defense and investigation in a manner not inconsistent with this Section and all reasonable attorneys’ fees and expenses) shall be paid to the indemnified
party, as incurred, within 10 Trading Days of written notice thereof to the indemnifying party; provided, that the indemnifying party may require such indemnified party to undertake to reimburse all such fees and expenses to the extent it is finally
judicially determined that such indemnified party is not entitled to indemnification hereunder. 
  

	 	8.	CONTRIBUTION 

  
 In order to provide for just and equitable contribution under the Securities Act in any case in which (i) the indemnified party makes a claim for
indemnification pursuant to Section 7 hereof but is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such
indemnification may not be enforced in such case notwithstanding the fact that the express provisions of Section 7 hereof provide for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part
of any indemnified party, then the Company and the applicable Distributing Investor shall contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (which shall, for all purposes of this Agreement, include, but
not be limited to, all reasonable costs of defense and investigation and all reasonable attorneys’ fees and expenses), in either such case (after contribution from others) on the basis of relative fault as well as any other relevant equitable
considerations. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Company on the one hand or the applicable Distributing Investor on the other hand, and the parties’ relative intent, knowledge, access to information and 








 
opportunity to correct or prevent such statement or omission. The Company and the Distributing Investor agree that it would not be just and equitable if
contribution pursuant to this Section 8 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 8. The amount paid or payable by an
indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this Section 8 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party
in connection with investigating or defending any such action or claim. 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 such fraudulent misrepresentation. 
  
 Notwithstanding
any other provision of this Section 8, in no event shall (i) any of the Distributing Investors be required to undertake liability to any person under this Section 8 for any amounts in excess of the dollar amount of the proceeds
received by such Distributing Investor from the sale of such Distributing Investor’s Registrable Securities (after deducting any fees, discounts and commissions applicable thereto) pursuant to any Registration Statement under which such
Registrable Securities are registered under the Securities Act and (ii) any underwriter be required to undertake liability to any person hereunder for any amounts in excess of the aggregate discount, commission or other compensation payable to
such underwriter with respect to the Registrable Securities underwritten by it and distributed pursuant to such Registration Statement. 
  

	 	9.	NOTICES 

  
 Any notice required or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall be effective upon personal delivery,
via facsimile (upon receipt of confirmation of error-free transmission and mailing a copy of such confirmation, postage prepaid by certified mail, return receipt requested) or two business days following deposit of such notice with an
internationally recognized courier service, with postage prepaid and addressed to each of the other parties thereunto entitled at the following addresses, or at such other addresses as a party may designate by five days advance written notice to
each of the other parties hereto. 
  

			
	 Company:
	  	Datrek Miller International, Inc.
	 	  	835 Bill Jones Industrial Drive
	 	  	Springfield, Tennessee 37172
	 	  	Attention: Michael S. Hedge, Chief Executive Officer
	 	  	Telephone: 615-384-1230
	 	  	Facsimile: 615-384-1290
		
	 with a copy to:
	  	Adorno & Yoss LLP
	 	  	2525 Ponce de Leon Boulevard, 4th Floor
	 	  	Coral Gables, Florida 33134
	 	  	Attention: Seth P. Joseph
	 	  	Telephone: 305-460-1469
	 	  	Facsimile: 305-460-1422

  
  
  
  
  
  
  
  
  
  








			
	Investors:	  	At the address and facsimile set forth on the signature page hereof

  
 10.    ASSIGNMENT 
  
 The
registration rights granted to any Holder under this Agreement may be transferred or assigned provided the transferee is bound by the terms of this Agreement and the Company is given written notice of such transfer or assignment. 
  
 11.    ADDITIONAL COVENANTS OF THE COMPANY

  
 For so long as it shall be required to maintain the
effectiveness of the Registration Statement, it shall file all reports and information required to be filed by it with the Commission in a timely manner and take all such other action so as to maintain such eligibility for the use of the applicable
form. 
  
 12.    CONFLICTING AGREEMENTS

  
 The Company shall not enter into any agreement with
respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise prevents the Company from complying with all of its obligations hereunder. 
  
 13.    GOVERNING LAW; JURISDICTION 
  
 This Agreement shall be governed by and interpreted in accordance with the
laws of the State of Florida, without regard to its principles of conflict of laws. Any action or proceeding seeking to enforce any provision of, or based on any right arising out of, this Agreement may be brought against any party in the federal
courts of Florida or the state courts of the State of Florida, and each of the parties consents to the jurisdiction of such courts and hereby waives, to the maximum extent permitted by law, any objection, including any objections based on forum non
conveniens, to the bringing of any such proceeding in such jurisdictions. 
  
 14.    MISCELLANEOUS 
  
 (a) Entire Agreement. This Agreement supersedes all prior agreements and understandings among the parties hereto with respect to the subject matter hereof. This Agreement, together with the other Primary
Documents, including any certificate, schedule, exhibit or other document delivered pursuant to their terms, constitutes the entire agreement among the parties hereto with respect to the subject matters hereof and thereof, and supersedes all prior
agreements and understandings, whether written or oral, among the parties with respect to such subject matters. 
  
 (b) Amendments. This Agreement may not be amended except by an instrument in writing signed by the party to be charged with enforcement.

  
 (c) Waiver. No waiver of any provision of this
Agreement shall be deemed a waiver of any other provisions or shall a waiver of the performance of a provision in one or more instances be deemed a waiver of future performance thereof. 







 (d) Construction. This Agreement and each of the Primary Documents have been entered into freely
by each of the parties, following consultation with their respective counsel, and shall be interpreted fairly in accordance with its respective terms, without any construction in favor of or against either party. 
  
 (e) Binding Effect of Agreement. This Agreement shall inure to the
benefit of, and be binding upon the successors and assigns of each of the parties hereto, including any transferees of the Securities. 
  
 (f) Severability. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability
shall not affect the validity or enforceability of the remainder of this Agreement or the validity or unenforceability of this Agreement in any other jurisdiction. 
  
 (g) Attorneys’ Fees. If any action should arise between the parties hereto to enforce or interpret the
provisions of this Agreement, the prevailing party in such action shall be reimbursed for all reasonable expenses incurred in connection with such action, including reasonable attorneys’ fees. 
  
 (h) Headings. The headings of this Agreement are for convenience of
reference only and shall not form part of, or affect the interpretation of this Agreement. 
  
 (i) Counterparts. This Agreement may be signed in one or more counterparts, each of which shall be deemed an original and all of which, when taken together, will be deemed to constitute one and the same
agreement. 
  
 [Signatures on the following page]








 IN WITNESS WHEREOF, the parties hereto have caused this Registration Rights Agreement to be duly
executed, on this 30th day of November, 2005. 
  

			
	DATREK MILLER INTERNATIONAL, INC.
		
	By:	 	/s/ Michael S. Hedge
	 	 	 Michael S. Hedge
 Chief Executive Officer



  

			
	 
	 INVESTORS:
  
 STANFORD INTERNATIONAL BANK LTD.

		
	By:	 	/s/ James M. Davis
	 	 	 James M. Davis
 Chief Financial Officer



  
  

			
	 	 	 
	By:	 	/s/ Daniel T. Bogar
	 	 	 DANIEL T. BOGAR
 1016 Sanibel Drive
 Hollywood, Florida 33019
 Telephone: 305-960-8530
 Facsimile: 305-960-8535



  

			
	 	 	 
	By:	 	/s/ Ronald M. Stein
	 	 	 RONALD M. STEIN
 6520 Allison Road
 Miami Beach, Florida 33141
 Telephone: 305-960-8530
 Facsimile: 305-960-8535



  
 [Signatures on
the following page] 








			
	By:	 	/s/ Osvaldo Pi
	 	 	 OSVALDO PI
 6405 SW 104 Street
 Pinecrest, Florida 33156
 Telephone: 305-960-8530
 Facsimile:
305-960-8535



  

			
	 	 	 
		
	By:	 	/s/ William R. Fusselmann
	 	 	 WILLIAM R. FUSSELMANN
 141 Crandon Boulevard,
#437
 Key Biscayne, Florida 33149
 Telephone:
305-960-8530
 Facsimile: 305-960-8535



  

			
	 	 	 
		
	By:	 	/s/ Charles M. Weiser
	 	 	 CHARLES M. WEISER
 3521 N. 55th Avenue
 Hollywood, Florida
33021