Document:

Form of Registration Rights Agreement

 Exhibit 4.3 
  

REGISTRATION RIGHTS AGREEMENT 
  
 REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of
                    , 2005, by and among Microvision, Inc., a Delaware corporation, with headquarters located at 19910 North Creek Parkway,
Bothell, WA 98011 (the “Company”), and the undersigned buyers (each, a “Buyer”, and collectively, the “Buyers”). 
  
 WHEREAS: 
  
 A. In connection with the Securities Purchase Agreement by and among the parties hereto of even date herewith (the “Securities Purchase
Agreement”), the Company has agreed, upon the terms and subject to the conditions set forth in the Securities Purchase Agreement, to issue and sell to the Buyers (i) senior secured convertible notes of the Company (the
“Notes”), which will, among other things, be convertible into the Company’s common stock, $.001 par value per share (the ”Common Stock”, as converted, the “Conversion Shares”) in
accordance with the terms of the Notes, (ii) shares of Common Stock (the “Purchased Shares”) and (iii) warrants (the “Warrants”), which will be exercisable to purchase shares of Common Stock (as exercised
collectively, the “Warrant Shares”). 
  
 B. The
Notes bear interest, which at the option of the Company, subject to certain conditions, may be paid in shares of Common Stock (the “Interest Shares”). 
  
 C. To induce the Buyers to execute and deliver the Securities Purchase Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the “1933 Act”), and applicable state securities laws. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and each of the Buyers hereby agree as follows: 
  

	1.	Definitions. 

  
 Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Securities Purchase Agreement. As used
in this Agreement, the following terms shall have the following meanings: 
  
 a. “Business Day” means any day other than Saturday, Sunday or any other day on which commercial banks in The City of New York are authorized or required by law to remain closed. 
  
 b. “Closing Date” shall have the meaning set forth in the
Securities Purchase Agreement. 
  
 c. “Effective
Date” means the date the Registration Statement has been declared effective by the SEC. 

 d. “Effectiveness Deadline” means the date which is 90 days after the Closing Date, or
if there is a review of the Registration Statement by the SEC, 120 days after the Closing Date. 
  
 e. “Filing Deadline” means 30 days after the Closing Date. 
  
 f. “Investor” means a Buyer or any transferee or assignee thereof to whom a Buyer assigns its rights under
this Agreement and who agrees to become bound by the provisions of this Agreement in accordance with Section 9 and any transferee or assignee thereof to whom a transferee or assignee assigns its rights under this Agreement and who agrees to
become bound by the provisions of this Agreement in accordance with Section 9. 
  
 g. “Person” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization and a government or any department or agency
thereof. 
  
 h. “register,”
“registered,” and “registration” refer to a registration effected by preparing and filing one or more Registration Statements (as defined below) in compliance with the 1933 Act and pursuant to Rule 415 and the
declaration or ordering of effectiveness of such Registration Statement(s) by the SEC. 
  
 i. “Registrable Securities” means (i) the Conversion Shares issued or issuable upon conversion of the Notes, (ii) the Purchased Shares, (iii) the Warrant Shares issued or issuable upon
exercise of the Warrants, (iv) the Interest Shares issued or issuable under the Notes and (v) any share capital of the Company issued or issuable with respect to the Conversion Shares, the Purchased Shares, the Notes, the Warrant Shares or
the Warrants as a result of any share split, share dividend, recapitalization, exchange or similar event or otherwise, without regard to any limitations on conversions of the Notes or exercises of the Warrants. 
  
 j. “Registration Statement” means a registration statement
or registration statements of the Company filed under the 1933 Act covering the Registrable Securities. 
  
 k. “Required Holders” means the holders of Notes representing at least a majority the Notes then outstanding; provided that Holders of
the shares of Common Stock issued upon conversion of Notes shall be deemed to be Holders of the aggregate principal amount of Notes from which such Common Stock was converted; and provided further, that Notes or shares of Common Stock which have
been sold or otherwise transferred pursuant to the Registration Statement shall not be included in the calculation of Required Holders. 
  
 l. “Required Registration Amount” means 100% of the sum of (i) the maximum number of Interest Shares issued and issuable pursuant to
the terms of the Notes, (ii) the number of Purchased Shares, (iii) the number of Conversion Shares issued and issuable pursuant to the Notes at the Minimum Price, and (iv) the number of Warrant Shares issued and issuable pursuant to
the Warrants as of the trading day immediately preceding the applicable date of determination. 
  
 m. “Rule 415” means Rule 415 under the 1933 Act or any successor rule providing for offering securities on a continuous or delayed basis. 
  
 n. “SEC” means the United States Securities and Exchange Commission. 
  

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	2.	Registration. 

  
 a. Mandatory Registration. The Company shall prepare, and, as soon as practicable but in no event later than the Filing Deadline, file with the SEC
the Registration Statement on Form S-3 covering the resale of all of the Registrable Securities. In the event that Form S-3 is unavailable for such a registration, the Company shall use such other form as is available for such a registration,
subject to the provisions of Section 2(d). The Registration Statement prepared pursuant hereto shall register for resale at least the number of shares of Common Stock equal to the Required Registration Amount determined as of date the
Registration Statement is initially filed with the SEC. The Registration Statement shall contain (except if otherwise directed by the Required Holders or as required by applicable laws, rules and regulations) the “Selling
Shareholders” and “Plan of Distribution” sections in substantially the form attached hereto as Exhibit B. The Company shall use its best efforts to have the Registration Statement declared effective by the SEC as
soon as practicable, but in no event later than the Effectiveness Deadline. 
  
 b. Allocation of Registrable Securities. The initial number of Registrable Securities included in any Registration Statement and any increase in the number of Registrable Securities included therein shall be
allocated pro rata among the Investors based on the number of Registrable Securities held by each Investor at the time the Registration Statement covering such initial number of Registrable Securities or increase thereof is declared effective by the
SEC. In the event that an Investor sells or otherwise transfers any of such Investor’s Registrable Securities pursuant to Section 9, each transferee shall be allocated a pro rata portion of the then remaining number of Registrable
Securities included in such Registration Statement for such transferor. Any shares of Common Stock included in a Registration Statement and which remain allocated to any Person which ceases to hold any Registrable Securities covered by such
Registration Statement shall be allocated to the remaining Investors, pro rata based on the number of Registrable Securities then held by such Investors which are covered by such Registration Statement. In no event shall the Company include any
securities other than Registrable Securities on any Registration Statement without the prior written consent of the Required Holders except to the extent required by existing agreements. 
  
 c. Legal Counsel. Subject to Section 5 hereof, the Required Holders shall have the right to select one legal
counsel to review and oversee any registration pursuant to this Section 2 (“Legal Counsel”), which shall be Proskauer Rose LLP or such other counsel as thereafter designated by the Required Holders. The Company and Legal
Counsel shall reasonably cooperate with each other in performing the Company’s obligations under this Agreement. 
  
 d. Ineligibility for Form S-3. In the event that Form S-3 is not available for the registration of the resale of Registrable Securities hereunder,
the Company shall (i) register the resale of the Registrable Securities on another appropriate form reasonably acceptable to the Required Holders and (ii) undertake to register the Registrable Securities on Form S-3 as soon as such form is
available, provided that the Company shall maintain the effectiveness of the Registration Statement then in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the SEC.

  
 e. [RESERVED] 
  

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 f. Effect of Failure to File and Obtain and Maintain Effectiveness of Registration Statement. If
(i) a Registration Statement covering all of the Registrable Securities required to be covered thereby and required to be filed by the Company pursuant to this Agreement is (A) not filed with the SEC on or before the respective Filing
Deadline (a “Filing Failure”) or (B) not declared effective by the SEC on or before the respective Effectiveness Deadline (an “Effectiveness Failure”) or (ii) on any day after the Effective Date sales of
all of the Registrable Securities required to be included on such Registration Statement cannot be made (other than during an Allowable Grace Period (as defined in Section 3(r)) pursuant to such Registration Statement (including, without
limitation, because of a failure to keep such Registration Statement effective, to disclose such information as is necessary for sales to be made pursuant to such Registration Statement or to register a sufficient number of shares of Common Stock)
(a “Maintenance Failure”) then, as partial relief for the damages to any holder by reason of any such delay in or reduction of its ability to sell the underlying shares of Common Stock (which remedy shall not be exclusive of any
other remedies available at law or in equity), the Company shall pay to each holder of Registrable Securities relating to such Registration Statement an amount in cash equal to two percent (2%) of the aggregate Purchase Price (as such term is
defined in the Securities Purchase Agreement) of such Investor’s Registrable Securities included in such Registration Statement on each of the following dates: (i) on the thirtieth day (pro rated for periods totaling less than thirty days)
after the initial day of a Filing Failure and every thirtieth day (pro rated for periods totaling less than thirty days) thereafter until such Filing Failure is cured; (ii) on the thirtieth day (pro rated for periods totaling less than thirty
days) after the initial day of an Effectiveness Failure and on every thirtieth day (pro rated for periods totaling less than thirty days) thereafter until such Effectiveness Failure is cured; (iii) on the thirtieth day (pro rated for periods
totaling less than thirty days) after the initial day of a Maintenance Failure and on every thirtieth day (pro rated for periods totaling less than thirty days) thereafter until such Maintenance Failure is cured. The payments to which a holder shall
be entitled pursuant to this Section 2(g) are referred to herein as “Registration Delay Payments.” Registration Delay Payments shall be paid on the earlier of (I) the last day of the calendar month during which such
Registration Delay Payments are incurred and (II) the third Business Day after the event or failure giving rise to the Registration Delay Payments is cured. In the event the Company fails to make Registration Delay Payments in a timely manner, such
Registration Delay Payments shall bear interest at the rate of 1.5% per month (prorated for partial months) until paid in full. 
  

	3.	Related Obligations. 

  
 At such time as the Company is obligated to file a Registration Statement with the SEC pursuant to Section 2(a) or 2(d), the Company will use its
best efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations: 
  
 a. The Company shall submit to the SEC, within two (2) Business Days
after the Company learns that no review of a particular Registration Statement will be made by the staff of the SEC or that the staff has no further comments on a particular Registration Statement, as the case may be, a request for acceleration of
effectiveness of such Registration Statement to a time and date not later than 48 hours after the submission of such request. The Company shall keep each Registration Statement effective pursuant to Rule 415 at all times until the earlier of
(i) the 

  

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date as of which the Investors may sell all of the Registrable Securities covered by such Registration Statement without restriction pursuant to Rule 144(k)
(or any successor thereto) promulgated under the 1933 Act (assuming that the Warrants are exercised on a cashless basis) or (ii) the date on which the Investors shall have sold all of the Registrable Securities covered by such Registration
Statement (the “Registration Period”). The Company shall use its best efforts to ensure that each Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not contain
any 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 the case of prospectuses, in the light of the circumstances in which they were made) not
misleading. 
  
 b. The Company shall prepare and file with the SEC
such amendments (including post-effective amendments) and supplements to a Registration Statement and the prospectus used in connection with such Registration Statement, which prospectus is to be filed pursuant to Rule 424 promulgated under the 1933
Act, as may be necessary to keep such Registration Statement effective at all times during the Registration Period, and, during such period, comply with the provisions of the 1933 Act with respect to the disposition of all Registrable Securities of
the Company covered by such Registration Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set forth in such
Registration Statement. In the case of amendments and supplements to a Registration Statement which are required to be filed pursuant to this Agreement (including pursuant to this Section 3(b)) by reason of the Company filing a report on Form
10-Q, Form 10-K or any analogous report under the Securities Exchange Act of 1934, as amended (the “1934 Act”), the Company shall have incorporated such report by reference into such Registration Statement, if applicable, or shall
file such amendments or supplements with the SEC on the same day on which the 1934 Act report is filed which created the requirement for the Company to amend or supplement such Registration Statement. 
  
 c. The Company shall respond as promptly as reasonably possible to any
comments received from the Commission with respect to the Registration Statement or any amendment thereto, and as promptly as reasonably possible provide the Investors true and complete copies of all correspondence from and to the Commission
relating to the Registration Statement. 
  
 d. The Company shall
(A) permit Legal Counsel to review and comment upon (i) a Registration Statement prior to its filing with the SEC and (ii) all amendments and supplements to all Registration Statements (except for Annual Reports on Form 10-K, and
Reports on Form 10-Q and any similar or successor reports) within a reasonable number of days prior to their filing with the SEC, and (B) not file any Registration Statement or amendment or supplement thereto in a form to which Legal Counsel
reasonably objects. The Company shall not unreasonably reject comments from Legal Counsel prior to its submission of a request for acceleration of the effectiveness of a Registration Statement or any amendment or supplement thereto. The Company
shall furnish to Legal Counsel, without charge, (i) copies of any correspondence from the SEC or the staff of the SEC to the Company or its representatives relating to any Registration Statement, (ii) promptly after the same is prepared
and filed with the SEC, one copy of any Registration Statement and any amendment(s) thereto, including financial statements and schedules, all documents incorporated therein by reference, if requested by an Investor, and all exhibits and
(iii) upon the effectiveness of any Registration Statement, one copy 

  

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of the prospectus included in such Registration Statement and all amendments and supplements thereto. The Company shall reasonably cooperate with Legal
Counsel in performing the Company’s obligations pursuant to this Section 3. 
  
 e. The Company shall furnish to each Investor whose Registrable Securities are included in any Registration Statement, without charge, (i) promptly after the same is prepared and filed with the SEC, at least one
copy of such Registration Statement and any amendment(s) thereto, including financial statements and schedules, all documents incorporated therein by reference, if requested by an Investor, all exhibits and each preliminary prospectus,
(ii) upon the effectiveness of any Registration Statement, ten (10) copies of the prospectus included in such Registration Statement and all amendments and supplements thereto (or such other number of copies as such Investor may reasonably
request) and (iii) such other documents, including copies of any preliminary or final prospectus, as such Investor may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by such
Investor; provided, however, that in lieu of the foregoing obligations, if any of the documents specified in subclause (i), (ii) or (iii) of this Section are otherwise available on the EDGAR system, the Company may instead provide notice
to each Investor that such documents are available on the EDGAR system. 
  
 f. The Company shall use its best efforts to (i) register and qualify, unless an exemption from registration and qualification applies, the resale by Investors of the Registrable Securities covered by a Registration Statement under
such other securities or “blue sky” laws of all applicable jurisdictions in the United States, (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations
and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during the
Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as
a condition thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(e), (y) subject itself to general taxation in any such jurisdiction, or (z) file a
general consent to service of process in any such jurisdiction. The Company shall promptly notify Legal Counsel and each Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of
the registration or qualification of any of the Registrable Securities for sale under the securities or “blue sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any
proceeding for such purpose. 
  
 g. The Company shall notify Legal
Counsel and each Investor in writing of the happening of any event, as promptly as practicable after becoming aware of such event, as a result of which the prospectus included in a Registration Statement, as then in effect, includes an untrue
statement of a material fact or omission to state a 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 (provided that in no event
shall such notice contain any material, nonpublic information), and, subject to Section 3(r), promptly prepare a supplement or amendment to such Registration Statement to correct such untrue statement or omission, and deliver ten
(10) copies of such supplement or amendment to Legal Counsel and each Investor (or 

  

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such other number of copies as Legal Counsel or such Investor may reasonably request). The Company shall also promptly notify Legal Counsel and each Investor
in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness shall be
delivered to Legal Counsel and each Investor by facsimile on the same day of such effectiveness and by overnight mail), (ii) of any request by the SEC for amendments or supplements to a Registration Statement or related prospectus or related
information, and (iii) of the Company’s reasonable determination that a post-effective amendment to a Registration Statement would be appropriate. 
  
 h. The Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration Statement, or
the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify
Legal Counsel and each Investor who holds Registrable Securities being sold of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding for such purpose. 
  
 i. If any Investor is required under applicable securities law to be
described in the Registration Statement as an underwriter and which is otherwise conducting diligence of the sort that an underwriter could conduct, at the reasonable request of any such Investor, the Company shall use commercially reasonable
efforts to deliver to such Investor, on the date of the effectiveness of the Registration Statement and thereafter from time to time on such dates as such Investor may reasonably request (i) a letter, dated such date, from the Company’s
independent certified public accountants in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to such Investor, and (ii) an opinion, dated as of
such date, of counsel representing the Company for purposes of such Registration Statement, in form, scope and substance as is customarily given in an underwritten public offering, addressed to such Investor. 
  
 j. The Company shall make available for inspection by (i) any Investor,
(ii) Legal Counsel and (iii) one firm of accountants or other agents retained by the Investors (collectively, the “Inspectors”), all pertinent financial and other records, and pertinent corporate documents and properties
of the Company (collectively, the “Records”), as shall be reasonably deemed necessary by each Inspector, and cause the Company’s officers, directors and employees to supply all information which any Inspector may reasonably
request; provided, however, that each Inspector shall agree to hold in strict confidence and shall not make any disclosure (except to an Investor who has agreed to receive such information and hold in strict confidence any such information) or use
of any Record or other information which the Company determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless (a) the disclosure of such Records is necessary to avoid or correct a
misstatement or omission in any Registration Statement or is otherwise required under the 1933 Act, (b) the release of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court or government body of competent
jurisdiction, or (c) the information in such Records has been made generally available to the public other than by disclosure in violation of this or any other agreement of which the Inspector has knowledge. Each Investor agrees that it shall,
upon learning that disclosure of such Records is sought in or by a court or governmental body of 

  

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competent jurisdiction or through other means, give prompt notice to the Company and allow the Company, at its expense, to undertake appropriate action to
prevent disclosure of, or to obtain a protective order for, the Records deemed confidential. Nothing herein (or in any other confidentiality agreement between the Company and any Investor) shall be deemed to limit the Investors’ ability to sell
Registrable Securities in a manner which is otherwise consistent with applicable laws and regulations. 
  
 k. The Company shall hold in confidence and not make any disclosure of information concerning an Investor provided to the Company unless
(i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary to avoid or correct a misstatement or omission in any Registration Statement,
(iii) the release of such information is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction, or (iv) such information has been made generally available to the
public other than by disclosure in violation of this Agreement or any other agreement. The Company agrees that it shall, upon learning that disclosure of such information concerning an Investor is sought in or by a court or governmental body of
competent jurisdiction or through other means, give prompt written notice to such Investor and allow such Investor, at the Investor’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such
information. 
  
 l. The Company shall use its best efforts either
to (i) cause all of the Registrable Securities covered by a Registration Statement to be listed on each securities exchange on which securities of the same class or series issued by the Company are then listed, if any, if the listing of such
Registrable Securities is then permitted under the rules of such exchange, or (ii) secure designation and quotation of all of the Registrable Securities covered by a Registration Statement on the Nasdaq National Market or (iii) if, despite
the Company’s best efforts to satisfy, the preceding clauses (i) and (ii) the Company is unsuccessful in satisfying the preceding clauses (i) and (ii), to secure the inclusion for quotation on The Nasdaq SmallCap Market for such
Registrable Securities and, without limiting the generality of the foregoing, to use its best efforts to arrange for at least two market makers to register with the National Association of Securities Dealers, Inc. (“NASD”) as such
with respect to such Registrable Securities. The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section 3(k). 
  
 m. The Company shall cooperate with the Investors who hold Registrable Securities being offered and, to the extent
applicable, facilitate the timely preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities to be offered pursuant to a Registration Statement and enable such certificates to be in such
denominations or amounts, as the case may be, as the Investors may reasonably request and registered in such names as the Investor may be entitled to request. 
  

n. If requested by an Investor, the Company shall (i) as soon as practicable incorporate in a prospectus supplement or post-effective amendment
such information as an Investor reasonably requests to be included therein relating to the sale and distribution of Registrable Securities, including, without limitation, information with respect to the number of Registrable Securities being offered
or sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering; (ii) as soon as practicable make all required filings of such prospectus supplement or post-effective
amendment 

  

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after being notified of the matters to be incorporated in such prospectus supplement or post-effective amendment; and (iii) as soon as practicable,
supplement or make amendments to any Registration Statement if reasonably requested by an Investor holding any Registrable Securities to the effect of the foregoing. 
  
 o. The Company shall use its best efforts to cause the Registrable Securities covered by a Registration Statement to be
registered with or approved by such other U.S. governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable Securities. 
  
 p. The Company shall make generally available to its security holders as soon as practical, but not later than ninety
(90) days after the close of the period covered thereby, an earnings statement (in form complying with, and in the manner provided by, the provisions of Rule 158 under the 1933 Act) covering a twelve-month period beginning not later than the
first day of the Company’s fiscal quarter next following the effective date of a Registration Statement. 
  
 q. The Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection with any registration
hereunder. 
  
 r. Within two (2) Business Days after a
Registration Statement which covers Registrable Securities is ordered effective by the SEC, the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with copies to
the Investors whose Registrable Securities are included in such Registration Statement) confirmation that such Registration Statement has been declared effective by the SEC in the form attached hereto as Exhibit A or such other form that the
transfer agent may reasonably request. 
  
 s. Notwithstanding
anything to the contrary herein, at any time after the Registration Statement has been declared effective by the SEC, the Company may delay the disclosure of material, non-public information concerning the Company the disclosure of which at the time
is not, in the good faith opinion of the Board of Directors of the Company and its counsel, in the best interest of the Company and, in the opinion of counsel to the Company, otherwise required (a “Grace Period”); provided, that the
Company shall promptly (i) notify the Investors in writing of the existence of material, non-public information giving rise to a Grace Period (provided that in each notice the Company will not disclose the content of such material, non-public
information to the Investors) and the date on which the Grace Period will begin, and (ii) notify the Investors in writing of the date on which the Grace Period ends; and, provided further, that no Grace Period shall exceed fifteen
(15) consecutive days and during any three hundred sixty five (365) day period such Grace Periods shall not exceed an aggregate of thirty (30) days and the first day of any Grace Period must be at least two (2) trading days after
the last day of any prior Grace Period (each, an “Allowable Grace Period”). For purposes of determining the length of a Grace Period above, the Grace Period shall begin on and include the date the Investors receive the notice
referred to in clause (i) and shall end on and include the later of the date the Investors receive the notice referred to in clause (ii) and the date referred to in such notice. The provisions of Section 3(g) hereof shall not be
applicable during the period of any Allowable Grace Period. Upon expiration of the Grace Period, the Company shall again be bound by the first sentence of Section 3(f) with respect to the information giving rise thereto 

  

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unless such material, non-public information is no longer applicable. Notwithstanding anything to the contrary, the Company shall cause its transfer agent to
deliver unlegended shares of Common Stock to a transferee of an Investor in accordance with the terms of the Securities Purchase Agreement in connection with any sale of Registrable Securities with respect to which an Investor has entered into a
contract for sale, and delivered a copy of the prospectus included as part of the applicable Registration Statement, prior to the Investor’s receipt of the notice of a Grace Period and for which the Investor has not yet settled. 
  

	4.	Obligations of the Investors. 

  
 a. At least two Business Days prior to the first anticipated filing date of a Registration Statement, the Company shall notify each Investor in writing of
the information the Company requires from each such Investor if such Investor elects to have any of such Investor’s Registrable Securities included in such Registration Statement. It shall be a condition precedent to the obligations of the
Company to complete the registration pursuant to this Agreement with respect to the Registrable Securities of a particular Investor that such Investor shall furnish to the Company such information regarding itself, the Registrable Securities held by
it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect the effectiveness of the registration of such Registrable Securities and shall execute such documents in connection with
such registration as the Company may reasonably request. 
  
 b.
Each Investor, by such Investor’s acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of any Registration Statement hereunder,
unless such Investor has notified the Company in writing of such Investor’s election to exclude all of such Investor’s Registrable Securities from such Registration Statement. 
  
 c. Each Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind
described in Section 3(g) or the first sentence of 3(f), such Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement(s) covering such Registrable Securities until such Investor’s
receipt of the copies of the supplemented or amended prospectus contemplated by Section 3(g) or the first sentence of 3(f) or receipt of notice that no supplement or amendment is required. Notwithstanding anything to the contrary, the Company
shall cause its transfer agent to deliver unlegended shares of Common Stock to a transferee of an Investor in accordance with the terms of the Securities Purchase Agreement in connection with any sale of Registrable Securities with respect to which
an Investor has entered into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind described in Section 3(g) or the first sentence of 3(f) and for which the Investor has
not yet settled. 
  
 d. Each Investor covenants and agrees that it
will comply with the prospectus delivery requirements of the 1933 Act as applicable to it in connection with sales of Registrable Securities pursuant to the Registration Statement and will sell or transfer the Registrable Securities in accordance
with the “Plan of Distribution” section of the Registration Statement substantially in the form attached hereto as Exhibit B. 
  

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	5.	Expenses of Registration. 

  
 All reasonable expenses, other than underwriting discounts and commissions, incurred in connection with registrations, filings or qualifications pursuant
to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting fees, and fees and disbursements of counsel for the Company shall be paid by the Company. The Company shall also reimburse
the Investors for the fees and disbursements of Legal Counsel in connection with registration, filing or qualification pursuant to Sections 2 and 3 of this Agreement which amount shall be limited to $10,000. 
  

	6.	Indemnification. 

  
 In the event any Registrable Securities are included in a Registration Statement under this Agreement: 
  
 a. To the fullest extent permitted by law, the Company will, and hereby does,
indemnify, hold harmless and defend each Investor, the directors, officers, members, partners, employees, agents, representatives of, and each Person, if any, who controls any Investor 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, reasonable 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 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 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 the light of the circumstances under which the statements therein were made, not misleading, (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 or (iv) any
violation of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, “Violations”). Subject to Section 6(c), the Company shall reimburse the Indemnified Persons, 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 6(a): (i) shall not apply to a Claim by an Indemnified Person 

  

 11 

 
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 such
Indemnified Person 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(d); (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 omission 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(d), 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 or failed to deliver the correct prospectus as required by the 1933 Act and such correct prospectus was timely made available pursuant to Section 3(d); (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, including a corrected prospectus, if such prospectus or corrected prospectus was timely made available by the Company pursuant to
Section 3(d); 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 or delayed. 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 forth in Section 6(a), the Company, each of its directors, each of its officers who
signs the Registration Statement and each Person, if any, who controls the Company within the meaning of the 1933 Act or the 1934 Act (each, 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 relate to any untrue statement of a material fact contained in the Registration Statement, any prospectus or any form of
prospectus or in any amendment or supplement thereto, or arise out of or relate to any omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of prospectus or
supplement thereto, in light of the circumstances under which they were made) not misleading, but only to the extent, that such untrue statements or omissions are based solely upon information regarding such Investor furnished in writing to the
Company by such Investor expressly for use therein; and, subject to Section 6(c), such Investor will reimburse any legal or other expenses reasonably incurred by an Indemnified Party in connection with investigating or defending any such Claim;
provided, however, that the indemnity agreement contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 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 or delayed; provided, further, however, that the Investor shall be liable under this Section 6(b) for only that amount of a Claim or
Indemnified Damages as does not exceed the net proceeds to such Investor as a result of the sale of Registrable Securities pursuant to such Registration Statement. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on 

  

 12 

 
behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investors pursuant to Section 9. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 6(b) 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. Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 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 Person or Indemnified Party shall have
the right to retain its own counsel with the fees and expenses of not more than one counsel for such Indemnified Person or Indemnified Party 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. In the case of an Indemnified Person, legal counsel referred to in the immediately preceding sentence shall be selected by the Investors holding at least 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 reasonably 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 prior written consent, provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written 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 not relieve
such indemnifying party of any liability to the Indemnified Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability to defend such action. 
  

 13 

 d. The indemnification required by this Section 6 shall be made by periodic payments of the amount
thereof during the course of the investigation or defense, as and when bills are received or Indemnified Damages are incurred. 
  
 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. 
  

	7.	Contribution. 

  
 To the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution
with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however, that: (i) no Person involved in the sale of Registrable Securities which Person is guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) in connection with such sale shall be entitled to contribution from any Person involved in such sale of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (ii) 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 pursuant to such Registration
Statement. 
  

	8.	Reports Under the 1934 Act. 

  
 With a view to making available to the Investors the benefits of Rule 144 promulgated under the 1933 Act or any other similar rule or regulation of the
SEC that may at any time permit the Investors to sell securities of the Company to the public without registration (“Rule 144”), the Company agrees to: 
  
 a. make and keep public information available, as those terms are understood and defined in Rule 144; 
  
 b. file with the SEC in a timely manner all reports and other documents
required of the Company under the 1933 Act and the 1934 Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is required for the applicable provisions of Rule 144; and 
  
 c. furnish to each Investor so long as such Investor owns Registrable
Securities, promptly upon request, (i) a written statement by the Company, if true, that it has complied with the reporting requirements of Rule 144, the 1933 Act and the 1934 Act, (ii) a copy of the most recent annual report of the
Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested to permit the Investors to sell such securities pursuant to Rule 144 without registration. 
  

	9.	Assignment of Registration Rights. 

  
 The rights under this Agreement shall be automatically assignable by the Investors to any transferee of all or any portion of such Investor’s
Registrable Securities if: (i) the Investor agrees 

  

 14 

 
in writing with the transferee or assignee to assign such rights, and a copy of such agreement is furnished to the Company within a reasonable time after
such assignment; (ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of (a) the name and address of such transferee or assignee, and (b) the securities with respect to which
such registration rights are being transferred or assigned; (iii) immediately following such transfer or assignment the further disposition of such securities by the transferee or assignee is restricted under the 1933 Act and applicable state
securities laws; (iv) at or before the time the Company receives the written notice contemplated by clause (ii) of this sentence the transferee or assignee agrees in writing with the Company to be bound by all of the provisions contained
herein; and (v) such transfer shall have been made in accordance with the applicable requirements of the Securities Purchase Agreement. 
  

	10.	Amendment of Registration Rights. 

  
 Provisions of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company and the Required Holders. Any amendment or waiver effected in accordance with this Section 10 shall be binding upon each Investor and the Company. No such amendment
shall be effective to the extent that it applies to less than all of the holders of the Registrable Securities. No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of this
Agreement unless the same consideration also is offered to all of the parties to this Agreement. 
  

	11.	Miscellaneous. 

  
 a. A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities. If the
Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the such record owner of
such Registrable Securities. 
  
 b. Any notices, consents, waivers
or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by
facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one Business Day after deposit with a nationally recognized overnight delivery service, in each case
properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be: 
  
 If to the Company: 
  
 Microvision, Inc. 
 19910 North Creek Parkway

 Bothell, Washington 98011 

			
	 Telephone:
	  	 (425) 415-6847

	 Facsimile:
	  	 (425) 415-6795

	 Attention:
	  	 Thomas M. Walker, Esq.

  

 15 

 With a copy to: 
  

Ropes & Gray LLP 
 One
International Place 
 Boston, Massachusetts 02110 

			
	 Telephone:
	  	 (617) 951-7000

	 Facsimile:
	  	 (617) 951-7050

	 Attention:
	  	 Joel F. Freedman, Esq.

  
 If to Legal Counsel:

  
 Proskauer Rose LLP 
 1585 Broadway 
 New York, New York 10036-8299

 Facsimile No.: (212) 969-2900 
 Telephone No.: (212) 969-3000 
 Attn: Adam J. Kansler, Esq. 
  
 If to a Buyer, to its address and facsimile number set forth on the Schedule of Buyers attached hereto, with copies to such Buyer’s
representatives as set forth on the Schedule of Buyers, or to such other address and/or facsimile number and/or to the attention of such other Person as the recipient party has specified by written notice given to each other party five (5) days
prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile
machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or (C) provided by a courier or overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively. 
  
 c. Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall
not operate as a waiver thereof. 
  
 d. All questions concerning
the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of
New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in
The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each
party hereby irrevocably waives personal service of process and consents to process being served in any such 

  

 16 

 
suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. 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 in that jurisdiction or the validity or enforceability of any provision of this Agreement in
any other jurisdiction. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY
TRANSACTION CONTEMPLATED HEREBY. 
  
 e. This Agreement, the
other Transaction Documents (as defined in the Securities Purchase Agreement) and the instruments referenced herein and therein constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof. There are
no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and therein. This Agreement, the other Transaction Documents and the instruments referenced herein and therein supersede all prior agreements and
understandings among the parties hereto with respect to the subject matter hereof and thereof. 
  
 f. Subject to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the parties hereto. 
  
 g. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof. 
  
 h.
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by
facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement. 
  
 i. 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 any 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. 

 
 j. All consents and other determinations required to be made by the
Investors pursuant to this Agreement shall be made, unless otherwise specified in this Agreement, by the Required Holders. 
  
 k. 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. 
  

 17 

 l. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 
  
 m. The obligations of each Buyer hereunder are several and not joint with the obligations of any other Buyer, and no provision of this Agreement is
intended to confer any obligations on any Buyer vis-à-vis any other Buyer. Nothing contained herein, and no action taken by any Buyer pursuant hereto, shall be deemed to constitute the Buyers as a partnership, an association, a joint venture
or any other kind of entity, or create a presumption that the Buyers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated herein. 
  
 * * * * * * 
  

 18 

 IN WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this
Registration Rights Agreement to be duly executed as of the date first written above. 
  

			
	 COMPANY:

	
	 MICROVISION, INC.

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

 IN WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this
Registration Rights Agreement to be duly executed as of the date first written above. 
  

			
	BUYERS:
	
	IROQUOIS MASTER FUND LTD
		
	By:	 	 
	 Name:
	 	 
	 Title: 
	 	 

 IN WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this
Registration Rights Agreement to be duly executed as of the date first written above. 
  

			
	BUYERS:
	
	SMITHFIELD FIDUCIARY LLC
		
	 By:
	 	 
	 Name:
	 	Adam J. Chill
	 Title:
	 	Authorized Signatory

 IN WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this
Registration Rights Agreement to be duly executed as of the date first written above. 
  

			
	BUYERS:
	
	OMICRON MASTER TRUST
	By: Omicron Capital L.P., as advisor
	 By: Omicron Capital Inc., its general partner

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

 IN WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this
Registration Rights Agreement to be duly executed as of the date first written above. 
  

			
	BUYERS:
	
	CRANSHIRE CAPITAL L.P.
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

 SCHEDULE OF BUYERS 
  

									
	 Buyer  

	  	 Buyer’s Address
 and Facsimile
Number        

	  	 	  	     Buyer’s Representative’s Address    
 and Facsimile Number

	  	 
					
	Iroquois Master Fund Ltd	  	 Iroquois Master Fund Ltd
 641 Lexington Avenue,
26th Floor
 New York, NY
10022
 Attention: Joshua Silverman
 Facsimile: (212)
207-3452
 Telephone: (212) 974-3070
 Residence:
Delaware
	  	 	  	 	  	 
					
	Smithfield Fiduciary LLC	  	 c/o Highbridge Capital Management, LLC
 9 West
57th Street, 27th Floor
 New York, New York 10019
 Attention: Ari J. Storch
                    Adam J. Chill
 Facsimile: (212)
751-0755
 Telephone: (212) 287-4720
 Residence: Cayman
Islands
	  	 	  	 	  	 
					
	Omicron Master Trust	  	 c/o Omicron Capital L.P.
 650 Fifth Ave., 24th Floor
 New York, New York
10019
 Attention: Bruce Bernstein
 Facsimile: (212)
258-2315
 Telephone: (212) 258-2301
 Residence:
Bermuda
	  	 	  	 Proskauer Rose LLP
 1585 Broadway
 New York, New York 10036-8299
 Facsimile No. (212) 969-2900
 Telephone No. (212) 969-3000
 Attn: Adam J. Kansler, Esq.
	  	 
					
	Cranshire Capital L.P.	  	 c/o Downsview Capital, Inc.
 The General
Partner
 666 Dundee Road, Suite 1901
 Northbrook, IL
60062
 Attention: Mitchell D. Kopin
 Facsimile: (847)
562-9031
 Telephone: (847) 562-9030
 Residence:
Illinois
	  	 	  	 	  	 

 EXHIBIT A 
  

FORM OF NOTICE OF EFFECTIVENESS 
 OF REGISTRATION STATEMENT 
  
 American Stock Transfer & Trust Company 
 Operations Center 
 6201 15th Avenue 
 Brooklyn, NY 11219 
 Attention: 
  
 Re: Microvision, Inc. 
  
 Ladies and Gentlemen: 
  
 [We are][I am] counsel to Microvision, Inc., a Delaware corporation (the “Company”), and have represented the Company in connection with
that certain Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into by and among the Company and the buyers named therein (collectively, the “Holders”) pursuant to which the Company issued
to the Holders senior secured convertible notes (the “Notes”) convertible into the Company’s common stock, $.001 par value per share (the ”Common Stock”), shares of Common Stock (the “Purchased
Shares”) and warrants exercisable for shares of Common Stock (the “Warrants”). Pursuant to the Securities Purchase Agreement, the Company also has entered into a Registration Rights Agreement with the Holders (the
“Registration Rights Agreement”) pursuant to which the Company agreed, among other things, to register the Registrable Securities (as defined in the Registration Rights Agreement), including the shares of Common Stock issuable upon
conversion of the Notes, as interest on the Notes, the Purchased Shares and the shares of Common Stock issuable upon exercise of the Warrants, under the Securities Act of 1933, as amended (the “1933 Act”). In connection with the
Company’s obligations under the Registration Rights Agreement, on                          , 2005, the Company
filed a Registration Statement on Form S-3 (File No. 333-                    ) (the “Registration Statement”) with the
Securities and Exchange Commission (the “SEC”) relating to the Registrable Securities which names each of the Holders as a selling shareholder thereunder. Each of the Holders has covenanted with the Company that in connection with
any sales of Common Stock by it pursuant to the Registration Statement, it will comply with the prospectus delivery requirements of the 1933 Act. 
  
 In connection with the foregoing, [we][I] advise you that a member of the SEC’s staff has advised [us][me] by telephone that the SEC has entered an
order declaring the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS] and [we][I] have no knowledge, after telephonic inquiry of a member of the
SEC’s staff, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Registrable Securities are available for resale under the 1933 Act
pursuant to the Registration Statement. 

 Based on the foregoing, this letter shall serve as our standing opinion to you that the shares of Common
Stock are freely transferable by the Holders pursuant to the Registration Statement. You need not require further letters from us to effect any future legend-free issuance or reissuance of shares of Common Stock to the Holders as contemplated by the
Company’s Irrevocable Transfer Agent Instructions dated                          , 2005. 
  

			
	 Very truly yours,

	
	 [ISSUER’S COUNSEL]

		
	By:	 	 

	CC:	[LIST NAMES OF HOLDERS] 

 EXHIBIT B 
  

SELLING SHAREHOLDERS 
  
 The shares of Common Stock being offered by the selling shareholders are either held by the selling shareholders or are issuable upon conversion of the
convertible notes, as interest on the convertible notes or upon exercise of the warrants. For additional information regarding the issuance of those convertible notes and warrants, see “Private Placement of Shares of Common Stock, Convertible
Notes and Warrants” above. We are registering the shares of Common Stock in order to permit the selling shareholders to offer the shares for resale from time to time. Except for the ownership of the Convertible Notes, Purchased Shares and the
Warrants and, except for previous investments in our securities, the selling shareholders have not had any material relationship with us within the past three years. 
  
 The table below lists the selling shareholders and other information regarding the beneficial ownership of the shares of
Common Stock by each of the selling shareholders. The second column lists the number of shares of Common Stock beneficially owned by each selling shareholder, as of
                    , 2005, assuming conversion of all convertible notes and exercise of the warrants held by the selling shareholders on that
date, without regard to any limitations on conversions or exercise. 
  
 The third column lists the shares of Common Stock being offered by this prospectus by the selling shareholders. 
  
 In accordance with the terms of registration rights agreements with the selling shareholders, this prospectus generally covers the resale of at least 100%
of the sum of (i) the maximum number of shares of Common Stock issuable as interest on the convertible notes, (ii) the maximum number of shares of Common Stock issuable upon conversion of the convertible notes, and (iii) the number of
shares of Common Stock issuable upon exercise of the related warrants as of the trading day immediately preceding the date the registration statement is initially filed with the SEC. Because the conversion price of the convertible notes, the
interest payable on the convertible notes and the exercise price of the warrants may be adjusted, the number of shares that will actually be issued may be more or less than the number of shares being offered by this prospectus. The fourth column
assumes the sale of all of the shares offered by the selling shareholders pursuant to this prospectus. 
  
 Under the terms of the convertible notes, a selling shareholder may not convert the convertible notes to the extent such conversion would cause such
selling shareholder, together with its affiliates, to beneficially own a number of shares of Common Stock which would exceed 9.99% of our then outstanding shares of Common Stock following such conversion, excluding for purposes of such determination
shares of Common Stock issuable upon conversion of the convertible notes which have not been converted and upon exercise of the warrants which have not been exercised. Under the terms of the warrants, a selling shareholder may not exercise the
warrants to the extent such exercise would cause such selling shareholder, together with its affiliates, to beneficially own a number of shares of Common Stock which would exceed 4.99% of our then outstanding shares of Common Stock following such
exercise, excluding for purposes of such determination shares of Common Stock issuable upon conversion of the 

 
convertible notes which have not been converted and upon exercise of the warrants which have not been exercised. The number of shares in the second column
does not reflect this limitation. The selling shareholders may sell all, some or none of their shares in this offering. See “Plan of Distribution.” 
  

							
	 Name of Selling Shareholder

	 	 Number of Shares Owned
Prior to Offering

	 	 Maximum Number of Shares to be
Sold Pursuant to this Prospectus

	 	 Number of Shares Owned
After Offering

	 (1)    Iroquois Capital, L.P.
	 	 	 	 	 	0
	 (2)    Smithfield Fiduciary LLC
	 	 	 	 	 	 
	 (3)    Omicron Master Trust
	 	 	 	 	 	 
	 (4)    Cranshire Capital L.P.
	 	 	 	 	 	 

  

	(1)	Joshua Silverman has voting and investment control of the securities held by Iroquois Capital, L.P. Mr. Silverman disclaims beneficial ownership of the shares held by Iroquois
Capital, L.P. 

  

	(2)	Highbridge Capital Management, LLC (“Highbridge”), is the trading manager of Smithfield Fiduciary LLC (“Smithfield”) and consequently has voting control and
investment discretion over the shares of Common Stock held by Smithfield. Glenn Dubin and Henry Swieca control Highbridge. Each of Highbridge and Messrs. Dubin and Swieca disclaims beneficial ownership of the shares held by Smithfield.

  

	(3)	Omicron Capital, L.P., a Delaware limited partnership (“Omicron Capital”), serves as investment manager to Omicron Master Trust, a trust formed under the laws of Bermuda
(“Omicron”), Omicron Capital, Inc., a Delaware corporation (“OCI”), serves as general partner of Omicron Capital, and Winchester Global Trust Company Limited (“Winchester”) serves as the trustee of Omicron. By reason of
such relationships, Omicron Capital and OCI may be deemed to share dispositive power over the shares of our common stock owned by Omicron, and Winchester may be deemed to share voting and dispositive power over the shares of our common stock owned
by Omicron. Omicron Capital, OCI and Winchester disclaim beneficial ownership of such shares of our common stock. Omicron Capital has delegated authority from the board of directors of Winchester regarding the portfolio management decisions with
respect to the shares of common stock owned by Omicron and, as of April 1, 2005, Mr. Olivier H. Morali and Mr. Bruce T. Bernstein, officers of OCI, have delegated authority from the board of directors of OCI regarding the
portfolio management decisions of Omicron Capital with respect to the shares of common stock owned by Omicron. By reason of such delegated authority, Messrs. Morali and Bernstein may be deemed to share dispositive power over the shares of our common
stock owned by Omicron. Messrs. Morali and Bernstein disclaim beneficial ownership of such shares of our common stock and neither of such persons has any legal right to maintain such delegated authority. No other person has sole or shared voting or
dispositive power with respect to the shares of our common stock being offered by Omicron, as those terms are used for purposes under Regulation 13D-G of the Securities Exchange Act of 1934, as amended. Omicron and Winchester are not
“affiliates” of one another, as that term is used for purposes of the Securities Exchange Act of 1934, as amended, or of any other person named in this prospectus as a selling shareholder. No person or “group” (as that term is
used in Section 13(d) of the Securities Exchange Act of 1934, as amended, or the SEC’s Regulation 13D-G) controls Omicron and Winchester. 

  

	(4)	Mitchell P. Kopin, President of Downsview Capital, Inc., the General Partner of Cranshire Capital, L.P. has sole voting and investment control of securities held by Cranshire.

 PLAN OF DISTRIBUTION 
  
 The selling stockholders may, from time to time, sell any or all of their shares of common stock on any stock exchange,
market or trading facility on which the shares are traded or in private transactions. These sales may be at fixed or negotiated prices. The selling stockholders may use any one or more of the following methods when selling shares: 
  

	 	•	 	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; 

  

	 	•	 	block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;

  

	 	•	 	purchases by a broker-dealer as principal and resale by the broker-dealer for its account; 

  

	 	•	 	an exchange distribution in accordance with the rules of the applicable exchange; 

  

	 	•	 	privately negotiated transactions; 

  

	 	•	 	short sales; 

  

	 	•	 	broker-dealers may agree with the selling securityholders to sell a specified number of such shares at a stipulated price per share; 

  

	 	•	 	a combination of any such methods of sale; and 

  

	 	•	 	any other method permitted pursuant to applicable law. 

  
 The selling stockholders may also sell shares under Rule 144 under the Securities Act, if available, rather than under this prospectus. 
  
 The selling stockholders may also engage in short sales against the box, puts
and calls and other transactions in our securities or derivatives of our securities and may sell or deliver shares in connection with these trades. 
  
 Broker-dealers engaged by the selling stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. The selling stockholders do not expect these commissions and discounts to exceed what is
customary in the types of transactions involved. Any profits on the resale of shares of common stock by a broker-dealer acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. Discounts, concessions,
commissions and similar selling expenses, if any, attributable to the sale of shares will be borne by a selling stockholder. The selling stockholders may agree to indemnify any agent, dealer or broker-dealer that participates in transactions
involving sales of the shares if liabilities are imposed on that person under the Securities Act. 

 The selling stockholders may from time to time pledge or grant a security interest in some or all of the
shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock from time to time under this prospectus after we have filed an
amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this
prospectus. 
  
 The selling stockholders also may transfer the
shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus and may sell the shares of common stock from time to time
under this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling stockholders to include the pledge, transferee or other successors in interest as selling stockholders under this prospectus.

  
 The selling stockholders and any broker-dealers or agents that
are involved in selling the shares of common stock may be deemed to be “underwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any
profit on the resale of the shares of common stock purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. 
  
 We are required to pay all fees and expenses incident to the registration of the shares of common stock. We have agreed to indemnify the selling
stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act. 
  
 The selling stockholders have advised us that they have not entered into any agreements, understandings or arrangements with any underwriters or
broker-dealers regarding the sale of their shares of common stock, nor is there an underwriter or coordinating broker acting in connection with a proposed sale of shares of common stock by any selling stockholder. If we are notified by any selling
stockholder that any material arrangement has been entered into with a broker-dealer for the sale of shares of common stock, if required, we will file a supplement to this prospectus. If the selling stockholders use this prospectus for any sale of
the shares of common stock, they will be subject to the prospectus delivery requirements of the Securities Act. 
  
 The anti-manipulation rules of Regulation M under the Securities Exchange Act of 1934 may apply to sales of our common stock and activities of the selling
stockholders.Form of Amended and Restated Pledge and Security Agreement

 Exhibit 4.4 
  
 EXECUTION VERSION 
  
 AMENDED AND RESTATED PLEDGE AND SECURITY AGREEMENT 
  
 AMENDED AND RESTATED PLEDGE AND SECURITY AGREEMENT, dated as of
                    , 2005 (this “Agreement”), made by the MICROVISION, INC. (the “Pledgor”), in favor of
                    (the “Lender”). 
  

W I T N E S S E T H: 
  
 WHEREAS, the Pledgor has entered into (i) that certain Securities Purchase Agreement, dated as of March 11, 2005
(as amended, modified or supplemented from time to time, the “March Agreement”), with the Lender and each of the other investors listed as “Buyers” on the Schedule of Buyers attached thereto, and (ii) that certain
Securities Purchase Agreement dated as of even date herewith (as amended, modified or supplemented from time to time, the “November Agreement” and together with the March Agreement, the “Purchase Agreements”), with
the Lender and each of the other Investors listed as “Buyers” on the Schedule of Buyers attached thereto; 
  
 WHEREAS, in accordance with the March Agreement, the Lender has agreed to purchase certain notes (“March Notes”) issued by the Company
thereunder, dated as of the date thereof in the original principal amount of $                 and in accordance with the November Agreement, the Lender has
agreed to purchase certain notes (the “November Notes”) issued by the Company thereunder, dated as of the date hereof, in the principal amount of
$                 (such March Notes and November Notes, as amended, modified, restated or supplemented from time to time, the “Notes”);

  
 WHEREAS, the Pledgor and the Lender entered into a Pledge and
Security Agreement dated as of March 11, 2005 (the “March Pledge Agreement”); 
  
 WHEREAS, it is a condition precedent to the Lender purchasing the Note that the Pledgor shall have executed and delivered to the Lender a pledge agreement
providing for the pledge to the Lender, and the grant to the Lender, of a security interest in and lien on the Pledged Collateral (as hereinafter defined), which shall include
                 shares of common stock, par value $.001 per share, evidenced by certificate no.
             (together with any additional shares required to be pledged to the Lender pursuant to the terms hereof, the “Pledged Shares”) of Lumera Corporation (the
“Pledged Issuer”); and 
  
 WHEREAS, the Pledgor
has determined that the execution, delivery and performance of this Agreement directly benefits, and is in the best interest of, the Pledgor. 
  
 NOW, THEREFORE, in consideration of the premises and the agreements herein and in order to induce the Lender to make and maintain the loans to the Pledgor
pursuant to the Notes, the Pledgor hereby agrees with the Lender to amend and restate the March Pledge Agreement, as follows: 
  
 SECTION 1. Definitions. Reference is hereby made to the Notes for a statement of the terms thereof. All terms used in this Agreement which are
defined in the Notes, or in the 

 
Purchase Agreements, or in Article 8 or Article 9 of the Uniform Commercial Code (the “Code”) as in effect from time to time in the State of
New York and which are not otherwise defined herein shall have the same meanings herein as set forth therein; provided, that terms used herein which are defined in the Code as in effect in the State of New York on the date hereof shall
continue to have the same meaning notwithstanding any replacement or amendment of such statute except as the Lender may otherwise determine. 
  
 SECTION 2. Pledge and Grant of Security Interest. As collateral security for all of the Obligations (as defined in Section 3 hereof), the
Pledgor hereby pledges and assigns to the Lender a continuing security interest in and lien on the Pledgor’s right, title and interest in and to the following (collectively, the “Pledged Collateral”): 
  
 (a) the Pledged Shares, whether or not evidenced or
represented by any stock certificate, certificated security or other instrument, issued by the Pledged Issuer, the certificates representing the Pledged Shares, all options and other rights, contractual or otherwise, in respect thereof and all
dividends, distributions, cash, instruments, investment property and other property (including but not limited to, any stock dividend and any distribution in connection with a stock split) from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of the Pledged Shares; 
  
 (b) all dividends paid and distributions made to the holders of Company Common Stock (other than dividends paid in shares of Company
Common Stock) that the Lender is entitled or permitted to receive from time to time upon conversion of the Notes, until the Lender receives Company Common Stock pursuant to the terms of the Transaction Documents; 
  
 (c) all security entitlements of the Pledgor in any and all
of the foregoing; and 
  
 (d) all proceeds
(including proceeds of proceeds) of any and all of the foregoing; 
  
 in each
case, whether now owned or hereafter acquired by the Pledgor and howsoever its interest therein may arise or appear (whether by ownership, security interest, lien, claim or otherwise). 
  
 SECTION 3. Security for Obligations. The security interest created hereby in the Pledged Collateral constitutes
continuing collateral security for all of the following obligations, whether now existing or hereafter incurred (the “Obligations”): 
  
 (a) the prompt payment by the Pledgor, as and when due and payable (whether by scheduled maturity, required prepayment, acceleration,
demand or otherwise), of all amounts from time to time owing by the Pledgor in respect of the Notes, including, without limitation, (i) all principal of and interest on the Notes (including, without limitation, all interest that accrues
after the commencement of any voluntary or involuntary proceeding of the Pledgor under the Bankruptcy Law (as defined in the Notes), whether or not the payment of such interest is unenforceable or is not allowable due to the existence of such
proceeding) and (ii) all fees, commissions, expense reimbursements, indemnifications and all other amounts due or to become due under the Notes; and 
  

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 (b) the due performance and observance by the Pledgor of all of its other obligations
from time to time existing in respect of the Notes. 
  
 SECTION 4.
Representations and Warranties. The Pledgor represents and warrants to the Lender as follows: 
  
 (a) The Pledged Shares have been duly authorized and validly issued and are fully paid and nonassessable and the holders thereof are not
entitled to any preemptive, first refusal or other similar rights. 
  
 (b) The Pledgor is and will be at all times the legal and beneficial owner of its Pledged Collateral free and clear of all liens except for the lien created by this Agreement. 
  
 (c) The exercise by the Lender of any of its rights and
remedies hereunder will not contravene any law or any material contract or any other contractual restriction binding on or affecting the Pledgor or any of the properties of the Pledgor and will not result in or require the creation of any lien upon
or with respect to any of the properties of the Pledgor other than pursuant to this Agreement or the other Transaction Documents (as such term is defined in each of the Purchase Agreements). 
  
 (d) No authorization or approval or other action by, and no
notice to or filing with, any governmental authority is required to be obtained or made by the Pledgor for (i) the due execution, delivery and performance by the Pledgor of this Agreement, (ii) the grant by the Pledgor, or the perfection,
of the lien created hereby in the Pledged Collateral or (iii) the exercise by the Lender of any of its rights and remedies hereunder, except as may be required in connection with any sale of any Pledged Collateral by laws affecting the offering
and sale of securities generally. 
  
 (e) This
Agreement creates a valid lien and enforceable security interest in favor of the Lender, in the Pledged Collateral as security for the Obligations. The Lender having possession of the certificates representing the Pledged Shares and all other
certificates, instruments and cash constituting Pledged Collateral from time to time results in the perfection of such lien. Such lien is, or in the case of Pledged Collateral in which the Pledgor obtains rights after the date hereof, will be, a
perfected, first priority lien. All action necessary or desirable to perfect and protect such lien has been duly taken, except for the Lender’s having possession of certificates, instruments and cash constituting Pledged Collateral after the
date hereof. 
  
 (f) On or before the date
hereof, the Pledgor has delivered to the Lender all certificates or instruments evidencing the Pledged Collateral, together with stock powers with respect thereto, duly signed in blank. 
  
 SECTION 5. Covenants as to the Pledged Collateral. So long as any of the Obligations shall remain outstanding or
prior to the termination of this Agreement, the Pledgor will, unless the Lender shall otherwise consent in writing: 
  
 (a) keep adequate records concerning the Pledged Collateral and permit the Lender or any agents, designees or representatives thereof at
any time or from time to time to examine and make copies of and abstracts from such records consistent with the terms of the Note; 
  

 -3- 

 (b) at the Pledgor’s expense, promptly deliver to the Lender a copy of each notice
or other communication received by it in respect of the Pledged Collateral; 
  
 (c) at the Pledgor’s expense, defend the Lender’s right, title and security interest in and to the Pledged Collateral against the claims of any Person; 
  
 (d) at the Pledgor’s expense, at any time and from time
to time, promptly execute and deliver all further instruments and documents and take all further action that may be necessary or that the Lender may reasonably request in order to (i) perfect and protect, or maintain the perfection of, the
security interest and lien created hereby, (ii) enable the Lender to exercise and enforce its rights and remedies hereunder in respect of the Pledged Collateral or (iii) otherwise effect the purposes of this Agreement, including, without
limitation, delivering to the Lender irrevocable proxies in respect of the Pledged Collateral; 
  
 (e) not sell, assign (by operation of law or otherwise), exchange or otherwise dispose of any Pledged Collateral or any interest therein
except as expressly permitted by the Notes and the other Transaction Documents; 
  
 (f) not create or suffer to exist any lien upon or with respect to any Pledged Collateral except for the lien created hereby; 

 
 (g) not make or consent to any amendment or other
modification or waiver with respect to any Pledged Collateral or enter into any agreement or permit to exist any restriction (other than as required by applicable law) with respect to any Pledged Collateral other than pursuant to the Note and the
other Transaction Documents; 
  
 (h) not take any
action which would in any manner impair the value of, and not take or fail to take any action which would in any manner impair the enforceability of, the Lender’s security interest in and lien on any Pledged Collateral; and 
  
 (i) if the Pledgor shall receive, by virtue of the
Pledgor’s being or having been an owner of any Pledged Collateral, any (i) stock certificate (including, without limitation, any certificate representing a stock dividend or distribution in connection with any increase or reduction of
capital, reclassification, merger, consolidation, sale of assets, combination of shares, stock split, spin-off or split-off), promissory note or other instrument, (ii) option or right, whether as an addition to, substitution for, or in exchange
for, any Pledged Collateral, or otherwise, (iii) dividends payable in cash (except such dividends permitted to be retained by the Pledgor pursuant to Section 6 hereof) or in securities or other property or (iv) dividends or other
distributions in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in surplus, the Pledgor shall receive such stock certificate, promissory note, instrument, option,
right, payment or distribution constituting certificated Pledged Collateral in trust for the benefit of the Lender, shall segregate it from the Pledgor’s other property and shall deliver it forthwith to the Lender, in the exact form 

  

 -4- 

 
received, with any necessary endorsement and/or appropriate stock powers duly executed in blank, to be held by the Lender as Pledged Collateral and as
further collateral security for the Obligations. 
  
 SECTION 6.
Voting Rights, Dividends, Etc. in Respect of the Pledged Collateral. 
  
 (a) So long as no Event of Default shall have occurred and be continuing: 
  
 (i) the Pledgor may exercise any and all voting and other consensual rights pertaining to any Pledged Collateral for any purpose not
inconsistent with the terms of this Agreement, the Notes and the other Transaction Documents; provided, however, that (A) the Pledgor will not exercise or refrain from exercising any such right, as the case may be, if the Lender
give the Pledgor notice that, in the Lender’s judgment, such action (or inaction) is reasonably likely to have a Material Adverse Effect (as defined in each of the Purchase Agreements) and (B) the Pledgor will give the Lender at least five
(5) Business Days’ notice of the manner in which it intends to exercise, or the reasons for refraining from exercising, any such right which is reasonably likely to have a Material Adverse Effect; 
  
 (ii) the Pledgor may receive and retain any and all
dividends, interest or other distributions or payments in respect of the Pledged Collateral to the extent permitted by the Notes and the other Transaction Documents; provided, however, that in accordance with Section 18 of the
Notes, any dividends, interest or other distribution or payment made after the date hereof with respect to (A) any share of Company Common Stock (other than dividends paid in shares of Company Common Stock) and (B) any share of Lumera
Common Stock is required to be held pursuant hereto as Pledged Collateral to be distributed to the Lender upon the conversion or exchange, as applicable, of any amount outstanding under the Notes; provided further, that any and all
(1) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of or in exchange for, any Pledged Collateral, (2) dividends and other
distributions paid or payable in cash in respect of any Pledged Collateral in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in surplus, and (3) cash paid,
payable or otherwise distributed in redemption of, or in exchange for, any Pledged Collateral, together with any dividend, interest or other distribution or payment which at the time of such payment was not permitted by the Notes and the other
Transaction Documents, shall be, and shall forthwith be delivered (x) if such dividends, interest or other distributions or payments constitute certificated Pledged Collateral, to the Lender to hold as Pledged Collateral and shall, if received
by the Pledgor, be received in trust for the benefit of the Lender, shall be segregated from the other property or funds of the Pledgor, and shall be forthwith delivered the Lender in the exact form received with any necessary endorsement and/or
appropriate stock powers duly executed in blank, to be held by the Lender as Pledged Collateral and as further collateral security for the Obligations, and (y) if such dividends, interest or other distributions or payments constitute cash
dividends or other distributions, into a demand deposit account (a “Deposit Account”), maintained by a commercial banking or other financial institution approved by the Lender and subject to an account control agreement, the terms
of which shall be reasonably satisfactory to the Lender; and 
  

 -5- 

 (iii) the Lender will execute and deliver (or cause to be executed and delivered) to a
Pledgor all such proxies and other instruments as the Pledgor may reasonably request for the purpose of enabling the Pledgor to exercise the voting and other rights which it is entitled to exercise pursuant to Section 6(a)(i) hereof and to
receive the dividends, interest and/or other distributions which it is authorized to receive and retain pursuant to Section 6(a)(ii) hereof. 
  
 (b) Upon the occurrence and during the continuance of an Event of Default: 
  
 (i) all rights of the Pledgor to exercise the voting and other rights which it would otherwise be entitled
to exercise pursuant to Section 6(a)(i) hereof, and to receive the dividends, distributions, interest and other payments which it would otherwise be authorized to receive and retain pursuant to Section 6(a)(ii) hereof, shall cease, and all
such rights shall thereupon become vested in the Lender which shall thereupon have the sole right to exercise such voting and other consensual rights and to receive and hold as Pledged Collateral such dividends and interest payments; 
  
 (ii) [intentionally omitted]; 
  
 (iii) without limiting the generality of the foregoing, the
Lender may at its option exercise any and all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining to any of the Pledged Collateral as if it were the absolute owner thereof, including, without
limitation, the right to exchange, in its discretion, any and all of the Pledged Collateral upon the merger, consolidation, reorganization, recapitalization or other adjustment of any Pledged Issuer, or upon the exercise by the Pledged Issuer of any
right, privilege or option pertaining to any Pledged Collateral, and, in connection therewith, to deposit and deliver any and all of the Pledged Collateral with any committee, depository, transfer agent, registrar or other designated agent upon such
terms and conditions as it may determine; and 
  
 (iv) all dividends, distributions, interest and other payments which are received by the Pledgor contrary to the provisions of Section 6(b)(ii) hereof shall be received in trust for the benefit of the Lender shall be segregated from
other funds of the Pledgor, and shall be forthwith paid over to the Lender as Pledged Collateral in the exact form received with any necessary endorsement and/or appropriate stock powers duly executed in blank, to be held by the Lender as Pledged
Collateral and as further collateral security for the Obligations. 
  
 SECTION 7. Additional Provisions Concerning the Pledged Collateral. 
  
 (a) To the maximum extent permitted by applicable law, and for the purpose of taking any action which the Lender may deem necessary or
advisable to accomplish the purposes of this Agreement, the Pledgor (i) authorizes the Lender to execute any such agreements, instruments or other documents in the Pledgor’s name and to file such agreements, instruments or other documents
in the Pledgor’s name and to file such agreements, instruments, or other documents in any appropriate filing office (ii) authorizes the Lender to file any financing statements required hereunder or under any other Transaction Document, and
any continuation statements or amendment with respect thereto, in any appropriate filing office without the 

  

 -6- 

 
signature of the Pledgor and (iii) ratifies the filing of any financing statement, and any continuation statement or amendment with respect thereto,
filed without the signature of the Pledgor prior to the date hereof. A photocopy or other reproduction of this Agreement or any financing statement covering the Pledged Collateral or any part thereof shall be sufficient as a financing statement
where permitted by law. 
  
 (b) The Pledgor
hereby irrevocably appoints the Lender as the Pledgor’s attorney-in-fact and proxy, with full authority in the place and stead of the Pledgor and in the name of the Pledgor or otherwise, from time to time in the Lender’s discretion, to
take any action and to execute any instrument which the Lender may deem necessary or advisable to accomplish the purposes of this Agreement (subject to the rights of the Pledgor under Section 6(a) hereof), including, without limitation, to
receive, endorse and collect all instruments made payable to the Pledgor representing any dividend, interest, distribution or other payment in respect of any Pledged Collateral and to give full discharge for the same. This power is coupled with an
interest and is irrevocable until all of the Obligations are indefeasibly paid in full. 
  
 (c) If the Pledgor fails to perform any agreement or obligation contained herein, the Lender itself may perform, or cause performance of,
such agreement or obligation, and the expenses of the Lender incurred in connection therewith shall be payable by the Pledgor pursuant to Section 9 hereof and shall be secured by the Pledged Collateral. 
  
 (d) Other than the exercise of reasonable care to assure the
safe custody of the Pledged Collateral while held hereunder, the Lender shall have no duty or liability to preserve rights pertaining thereto and shall be relieved of all responsibility for the Pledged Collateral upon surrendering it or tendering
surrender of it to the Pledgor. The Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that
which the Lender accord its own property, it being understood that the Lender shall not have responsibility for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to
any Pledged Collateral, whether or not the Lender has or is deemed to have knowledge of such matters, or (ii) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral. 
  
 (e) The powers conferred on the Lender hereunder are solely
to protect its interests in the Pledged Collateral and shall not impose any duty upon the Lender to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for monies actually received by
it hereunder, the Lender shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral. 
  
 (f) The Lender may at any time in its discretion
(i) after an Event of Default under Sections 5(a)(ix) or (x) of the Notes has occurred or after any other Event of Default under the Note has occurred and the Lender has delivered an Event of Default Redemption Notice under
Section 5(b) of the Notes, in each case without prior notice to the Pledgor, sell, transfer or register in the names of the Lender or any of its nominees any or all of the Pledged Collateral, and (ii) exchange certificates or instruments
constituting Pledged Collateral for certificates or instruments of smaller or larger denominations. 
  

 -7- 

 (g) The Lender shall, after the completion of any sale of any Pledged Collateral, provide
prompt written notice (in any event within one Business Day) to the Pledgor of such transfer or sale. 
  
 SECTION 8. Remedies Upon Default. If any Event of Default shall have occurred and be continuing: 
  
 (a) The Lender may exercise in respect of the Pledged
Collateral, in addition to any other rights and remedies provided for herein or otherwise available to it, all of the rights and remedies of a secured party upon default under the Code then in effect in the State of New York; and without limiting
the generality of the foregoing and without notice except as specified below, after an Event of Default under Sections 5(a)(ix) or (x) of the Notes has occurred or after any Event of Default under the Notes has occurred and the Lender has
delivered an Event of Default Redemption Notice under Section 5(b) of the Notes, sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange or broker’s board or elsewhere, at such
price or prices and on such other terms as the Lender may deem commercially reasonable. The Pledgor agrees that, to the extent notice of sale shall be required by law, at least five (5) days’ notice to the Pledgor of the time and place of
any public sale of Pledged Collateral owned by the Pledgor or the time after which any private sale is to be made shall constitute reasonable notification. The Lender shall not be obligated to make any sale of Pledged Collateral regardless of
whether or not notice of sale has been given. The Lender may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which
it was so adjourned. 
  
 (b) In the event that
the Lender determines to exercise its right to sell all or any part of the Pledged Collateral pursuant to Section 8(a) hereof, the Pledgor will, at the Pledgor’s expense and upon request by the Lender: (i) execute and deliver, and use
its commercially reasonable efforts to cause each issuer of such Pledged Collateral and the directors and officers thereof to execute and deliver, all such instruments and documents, and do or cause to be done all such other acts and things, as may
be necessary or, in the opinion of the Lender, advisable to register such Pledged Collateral under the provisions of the Securities Act of 1933, as amended (the “Securities Act”), and to cause the registration statement relating
thereto to become effective and to remain effective for such period as prospectuses are required by law to be furnished, and to make all amendments and supplements thereto and to the related prospectus which, in the opinion of the Lender, are
necessary or advisable, all in conformity with the requirements of the Securities Act and the rules and regulations of the Securities and Exchange Commission applicable thereto, (ii) use its commercially reasonable efforts to cause each issuer
of such Pledged Collateral to qualify such Pledged Collateral under the state securities or “Blue Sky” laws of each jurisdiction, and to obtain all necessary governmental approvals for the sale of the Pledged Collateral, as requested by
the Lender, (iii) use its commercially reasonable efforts to cause each Pledged Issuer to make available to its security holders, as soon as practicable, an earnings statement which will satisfy the provisions of Section 11(a) of the
Securities Act, and (iv) do or use its commercially reasonable efforts to cause to be done all such other acts and things as may be necessary to make such sale of such Pledged Collateral valid and binding and in compliance with applicable law.
The Pledgor acknowledges the impossibility of ascertaining the amount of damages which would be suffered by the Lender by reason of the failure by the Pledgor 

  

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to perform any of the covenants contained in this Section 8(b) and, consequently, agrees that, if the Pledgor fails to perform any of such covenants, it
shall pay, as liquidated damages and not as a penalty, an amount equal to the value of the Pledged Collateral on the date the Lender demands compliance with this Section 8(b); provided, however, that the payment of such amount
shall not release the Pledgor from any of its obligations under any of the other Transaction Documents. 
  
 (c) Notwithstanding the provisions of Section 8(b) hereof, the Pledgor recognizes that the Lender may deem it impracticable to effect
a public sale of all or any part of the Pledged Shares or any other securities constituting Pledged Collateral and that the Lender may, therefore, determine to make one or more private sales of any such securities to a restricted group of purchasers
who will be obligated to agree, among other things, to acquire such securities for its own account, for investment and not with a view to the distribution or resale thereof. The Pledgor acknowledges that any such private sale may be at prices and on
terms less favorable to the seller than the prices and other terms which might have been obtained at a public sale and, notwithstanding the foregoing, agrees that such private sales shall be deemed to have been made in a commercially reasonable
manner and that the Lender shall have no obligation to delay the sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act. The Pledgor
further acknowledges and agrees that any offer to sell such securities which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to
the extent that such an offer may be so advertised without prior registration under the Securities Act) or (ii) made privately in the manner described above to not less than fifteen bona fide offerees shall be deemed to involve a
“public disposition” for the purposes of Section 9-610(c) of the Code (or any successor or similar, applicable statutory provision) as then in effect in the State of New York, notwithstanding that such sale may not constitute a
“public offering” under the Securities Act, and that the Lender may, in such event, bid for the purchase of such securities. 
  
 (d) Any cash held by the Lender as Pledged Collateral and all cash proceeds received by the Lender in respect of any sale of, collection
from, or other realization upon, all or any part of the Pledged Collateral may, in the discretion of the Lender, be held by the Lender as collateral for, and/or then or at any time thereafter applied (after payment of any amounts payable to the
Lender pursuant to Section 9 hereof) in whole or in part by the Lender against, all or any part of the Obligations in such order as the Lender shall elect consistent with the provisions of the Notes. Any surplus of such cash or cash proceeds
held by the Lender and remaining after indefeasible payment in full of all of the Obligations shall be paid over to the Pledgor or to such Person as may be lawfully entitled to receive such surplus. 
  
 (e) The Lender may (in its sole and absolute discretion)
direct any or all of the banks and financial institutions with which the Pledgor maintains a Deposit Account to send immediately to the Lender by wire transfer (to such account as the Lender shall specify, or in such other manner as the Lender shall
direct) all or a portion of such cash, investments and other items held by such institution in any Deposit Account, to be held by the Lender as collateral for, and/or then or at any time thereafter applied (after payment of any amounts payable to
the Lender pursuant to Section 9 hereof) in whole or in part by the Lender against, all or any part of the Obligations in such order as the Lender shall elect consistent with the provisions of the Notes. Any surplus of such cash, investments
and other items held by the 

  

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Lender and remaining after indefeasible payment in full of all of the Obligations shall be paid over to the Pledgor or to such Person as may be lawfully
entitled to receive such surplus. 
  
 (f) In the
event that the proceeds of any such sale, collection or realization are insufficient to pay all amounts to which the Lender is legally entitled, the Pledgor shall be liable for the deficiency, together with interest thereon at the highest rate
specified in the Notes for interest on overdue principal thereof or such other rate as shall be fixed by applicable law, together with the costs of collection and the fees, costs and expenses and other client charges of any attorneys employed by the
Lender to collect such deficiency. 
  
 SECTION 9. Indemnity and
Expenses. 
  
 (a) The Pledgor agrees to
defend, protect, indemnify and hold harmless the Lender (and all of its respective officers, directors, employees, attorneys, consultants and agents) from and against any and all claims, damages, losses, liabilities obligations, penalties, fees,
costs and expenses (including, without limitation, legal fees, costs and expenses of counsel) to the extent that they arise out of or otherwise result from this Agreement (including, without limitation, enforcement of this Agreement), except, as to
any such indemnified Person, claims, losses or liabilities resulting solely and directly from such Person’s gross negligence or willful misconduct as determined by a final judgment of a court of competent jurisdiction. 
  
 (b) The Pledgor agrees to pay to the Lender upon demand the
amount of any and all costs and expenses, including the fees, costs, expenses and disbursements of the Lender’s counsel and of any experts and agents, which the Lender may incur in connection with (i) the administration, amendment, waiver
or other modification or termination of this Agreement, (ii) the custody, preservation, use or operation of, or the sale of, collection from, or other realization upon, any Pledged Collateral, (iii) the exercise or enforcement of any of
the rights of the Lender hereunder, or (iv) the failure by the Pledgor to perform or observe any of the provisions hereof. 
  
 SECTION 10. Notices, Etc. All notices and other communications provided for hereunder shall be in writing and shall be mailed (by certified mail,
postage prepaid and return receipt requested), telecopied or delivered, if to the Pledgor, to it in care of the Pledgor at its address specified in the November Agreement; if to the Lender, to it at the addresses specified in the November Agreement;
or as to any such Person at such other address as shall be designated by such Person in a written notice to such other Person complying as to delivery with the terms of this Section 10. All such notices and other communications shall be
effective (i) if mailed, when received or three (3) days after deposited in the mails, whichever occurs first, (ii) if telecopied, when transmitted and confirmation received, or (iii) if delivered, upon delivery. 
  
 SECTION 11. Security Interest Absolute. All rights of the Lender, all
liens and all obligations of the Pledgor hereunder shall be absolute and unconditional irrespective of: (i) any lack of validity or enforceability of either of the Notes or any other agreement or instrument relating thereto, (ii) any
change in the time, manner or place of payment of, or in any other term in respect of, all or any of the Obligations, or any other amendment or waiver of or consent to any departure from the Notes or any other Transaction Document, (iii) any
exchange or release 

  

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of, or non-perfection of any lien on any Pledged Collateral, for all or any of the Obligations, or (iv) any other circumstance which might otherwise
constitute a defense available to, or a discharge of, the Pledgor in respect of the Obligations. All authorizations and agencies contained herein with respect to any of the Pledged Collateral are irrevocable and powers coupled with an interest.

  
 SECTION 12. Miscellaneous. 
  
 (a) No amendment of any provision of this Agreement shall be
effective unless it is in writing and signed by the Lender, and no waiver of any provision of this Agreement, and no consent to any departure by the Pledgor therefrom, shall be effective unless it is in writing and signed by the Lender, and then
such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. 
  
 (b) No failure on the part of the Lender to exercise, and no delay in exercising, any right hereunder or under any Transaction Document
shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. The rights and remedies of the Lender provided herein and in the other
Transaction Documents are cumulative and are in addition to, and not exclusive of, any rights or remedies provided by law. The rights of the Lender under the applicable Transaction Document against any party thereto are not conditional or contingent
on any attempt by the Lender to exercise any of its rights under any other document against such party or against any other Person, including but not limited to, the Pledgor. 
  
 (c) Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or thereof or affecting the validity or enforceability of such provision in any other jurisdiction.

  
 (d) This Agreement shall create a continuing
security interest in and lien on the Pledged Collateral and shall (i) remain in full force and effect until the indefeasible payment in full or release of the Obligations and (ii) be binding on the Pledgor and, by its acceptance hereof,
the Lender, and its successors and assigns, and shall inure, together with all rights and remedies of the Lender hereunder, to the benefit of the Lender and its successors, transferees and assigns. Without limiting the generality of clause
(ii) of the immediately preceding sentence, without notice to the Pledgor, the Lender may assign or otherwise transfer its rights and obligations under this Agreement and any other Transaction Document to any other Person, and such other Person
shall thereupon become vested with all of the benefits in respect thereof granted to the Lender herein or otherwise. Upon any such assignment or transfer, all references in this Agreement to the Lender shall mean the assignees of each the Lender.
None of the rights or obligations of the Pledgor hereunder may be assigned or otherwise transferred without the prior written consent of the Lender, and any such assignment or transfer shall be null and void. 
  
 (e) Upon the satisfaction in full of the Obligations
(i) this Agreement and the security interest and lien created hereby shall terminate and all rights to the Pledged Collateral shall revert to the Pledgor, and (ii) the Lender will, upon the Pledgor’s request and at 

  

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the Pledgor’s expense, (A) return to the Pledgor such of the Pledged Collateral as shall not have been sold or otherwise disposed of or applied
pursuant to the terms hereof and (B) execute and deliver to the Pledgor, without recourse, representation or warranty, such documents as the Pledgor shall reasonably request to evidence such termination. Furthermore, upon the Lender’s
conversion of all or part of the Notes for Company Common Stock in accordance with Section 3 or 10 of the Note, the security interest and lien created hereby with respect to Pledged Collateral that constitutes dividends or other distributions
(which shall not include dividends paid in shares of Company Common Stock) made with respect to such Company Common Stock (which dividends and other distributions due to the Lender are to be distributed to the Lender in connection with such
conversion), shall, without further action, be released and discharged (it being understood and agreed that the Lender’s lien and security interest in all other Pledged Collateral shall remain in full force and effect). 
  
 (f) All questions concerning the construction, validity,
enforcement and interpretation of this Agreement or the Notes shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any
other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New
York, Borough of Manhattan, for the adjudication of any dispute hereunder or thereunder in connection this Agreement or the Notes or with any transaction contemplated hereby or thereby or discussed herein or therein, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit,
action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to
it under this Agreement or the Notes and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE UNDER THIS AGREEMENT OR THE NOTE OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR
THE NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY. 
  
 (g) This Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which shall be deemed an original, but all such counterparts shall constitute one and the same agreement.

  
 [Remainder of page intentionally left blank.] 
  

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 IN WITNESS WHEREOF, the Pledgor has caused this Agreement to be executed and delivered by its officer
thereunto duly authorized, as of the date first above written. 
  

			
	PLEDGOR:
	
	 MICROVISION, INC.

		
	 By:
	 	 
	 Name:
	 	 
	 Title:

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