Document:

Unassociated Document

    REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”)
      is
      entered into as of the [__]
      day of
[___],
      2008,
      by and among Green Energy Acquisition Corporation, a Delaware corporation (the
      “Company”)
      and
      the undersigned parties listed under Investor on the signature page hereto
      (each, an “Investor”
and
      collectively, the “Investors”).

     

    WHEREAS,
      the Investors currently hold all of the issued and outstanding securities of
      the
      Company; and

     

    WHEREAS,
      the Investors and the Company desire to enter into this Agreement to provide
      the
      Investors with certain rights relating to the registration of (a) shares of
      Common Stock; (b) Founder Warrants; and (c) shares of Common Stock issuable
      upon
      exercise of the Founder Warrants.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements set forth
      herein, and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

     

    1. DEFINITIONS.
      The
      following capitalized terms used herein have the following
      meanings:

     

    “Agreement”
means
      this Agreement, as amended, restated, supplemented, or otherwise modified from
      time to time.

     

    “Commission”
means
      the Securities and Exchange Commission, or any other federal agency then
      administering the Securities Act or the Exchange Act.

     

    “Common
      Stock”
means
      the common stock, par value $0.0001 per share, of the Company.

     

    “Company”
is
      defined in the preamble to this Agreement.

     

    “Demand
      Registration”
is
      defined in Section 2.1.1.

     

    “Demanding
      Holder”
is
      defined in Section 2.1.1.

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended, and the rules and regulations
      of the Commission promulgated thereunder, all as the same shall be in effect
      at
      the time.

     

    “Form
      S-3”
is
      defined in Section 2.3.

     

    “Founder
      Warrants”
means
      the warrants being purchased by Green Holdings in a private placement that
      will
      take place immediately prior to the consummation of the Company’s initial public
      offering.

     

    “Founder
      Warrants Release Date”
means
      the date on which the Founder Warrants are disbursed from escrow pursuant to
      Section 3 of that certain Founder Warrant Escrow Agreement dated as of the
      date
      hereof by and among the Company, Green Holdings and Continental Stock Transfer
      & Trust Company. 

     

    “Green
      Holdings”
means
      Green Energy Acquisition Holdings, LLC.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Indemnified
      Party”
is
      defined in Section 4.3.

     

    “Indemnifying
      Party”
is
      defined in Section 4.3.

     

    “Initial
      Shares Release
      Date”
means
      the date on which shares of Common Stock are disbursed from escrow pursuant
      to
      Section 3 of that certain Stock Escrow Agreement dated as of the date hereof
      by
      and among the parties hereto and Continental Stock Transfer & Trust
      Company.

     

    “Investor”
is
      defined in the preamble to this Agreement.

     

    “Investor
      Indemnified Party”
is
      defined in Section 4.1.

     

    “Maximum
      Number of Shares”
is
      defined in Section 2.1.4.

     

    “Notices”
is
      defined in Section 6.3.

     

    “Piggy-Back
      Registration”
is
      defined in Section 2.2.1.

     

    “Register,”
      “Registered”
      and
“Registration”
mean
      a
      registration effected by preparing and filing a registration statement or
      similar document in compliance with the requirements of the Securities Act,
      and
      the applicable rules and regulations promulgated thereunder, and such
      registration statement becoming effective.

     

    “Registrable
      Securities”
mean
      (i) all of the shares of Common Stock owned or held by Investors prior to the
      consummation of the Company’s initial public offering, (ii) all of the Founder
      Warrants owned or held by Investors immediately prior to the consummation of
      the
      Company’s initial public offering, and (iii) all of the shares of Common Stock
      issuable upon exercise of the Founder Warrants. Registrable Securities include
      any warrants, shares of capital stock or other securities of the Company issued
      as a dividend or other distribution with respect to or in exchange for or in
      replacement of such shares of Common Stock or Founder Warrants. As to any
      particular Registrable Securities, such securities shall cease to be Registrable
      Securities when: (a) a Registration Statement with respect to the sale of such
      securities shall have become effective under the Securities Act and such
      securities shall have been sold, transferred, disposed of or exchanged in
      accordance with such Registration Statement; (b) such securities shall have
      been
      otherwise transferred, new certificates for them not bearing a legend
      restricting further transfer shall have been delivered by the Company and
      subsequent public distribution of them shall not require registration under
      the
      Securities Act; (c) such securities shall have ceased to be outstanding, or
      (d)
      the Securities and Exchange Commission makes a definitive determination to
      the
      Company that the Registrable Securities are saleable under Rule
      144(k).

     

    “Registration
      Statement”
means
      a
      registration statement filed by the Company with the Commission in compliance
      with the Securities Act and the rules and regulations promulgated thereunder
      for
      a public offering and sale of Common Stock (other than a registration statement
      on Form S-4 or Form S-8, or their successors, or any registration statement
      covering only securities proposed to be issued in exchange for securities or
      assets of another entity).

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, and the rules and regulations of the
      Commission promulgated thereunder, all as the same shall be in effect at the
      time.

     

    “Underwriter”
means
      a
      securities dealer who purchases any Registrable Securities as principal in
      an
      underwritten offering and not as part of such dealer’s market-making
      activities.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2. REGISTRATION
      RIGHTS.

     

    2.1Demand
      Registration.

     

    2.1.1.Request
      for Registration.
      At any
      time and from time to time on or after the Founder Warrant Release Date or
      the
      Initial Shares Release Date, as applicable, the holders of a
      majority-in-interest of such Registrable Securities as have been released from
      escrow may make a written demand for registration under the Securities Act
      of
      all or part of their Registrable Securities (a “Demand
      Registration”). Any
      demand for a Demand Registration shall specify the number of shares of
      Registrable Securities proposed to be sold and the intended method(s) of
      distribution thereof. The Company will notify all holders of Registrable
      Securities of the demand, and each holder of Registrable Securities who wishes
      to include all or a portion of such holder’s Registrable Securities in the
      Demand Registration (each such holder including shares of Registrable Securities
      in such registration, a “Demanding
      Holder”)
      shall
      so notify the Company within fifteen (15) days after the receipt by the holder
      of the notice from the Company. Upon any such request, the Demanding Holders
      shall be entitled to have their Registrable Securities included in the Demand
      Registration, subject to Section 2.1.4 and the provisos set forth in Section
      3.1.1. The Company shall not be obligated to effect more than an aggregate
      of
      two (2) Demand Registrations under this Section 2.1.1 in respect of all
      Registrable Securities.

     

    2.1.2.Effective
      Registration.
      A
      registration will not count as a Demand Registration until the Registration
      Statement filed with the Commission with respect to such Demand Registration
      has
      been declared effective and the Company has complied with all of its obligations
      under this Agreement with respect thereto; provided, however, that if, after
      such Registration Statement has been declared effective, the offering of
      Registrable Securities pursuant to a Demand Registration is interfered with
      by
      any stop order or injunction of the Commission or any other governmental agency
      or court, the Registration Statement with respect to such Demand Registration
      will be deemed not to have been declared effective, unless and until (i) such
      stop order or injunction is removed, rescinded or otherwise terminated, and
      (ii)
      a majority-in-interest of the Demanding Holders thereafter elect to continue
      the
      offering; provided, further, that the Company shall not be obligated to file
      a
      second Registration Statement until a Registration Statement that has been
      filed
      is counted as a Demand Registration or is terminated.

     

    2.1.3.Underwritten
      Offering.
      If a
      majority-in-interest of the Demanding Holders so elect and such holders so
      advise the Company as part of their written demand for a Demand Registration,
      the offering of such Registrable Securities pursuant to such Demand Registration
      shall be in the form of an underwritten offering. In such event, the right
      of
      any holder to include its Registrable Securities in such registration shall
      be
      conditioned upon such holder’s participation in such underwriting and the
      inclusion of such holder’s Registrable Securities in the underwriting to the
      extent provided herein. All Demanding Holders proposing to distribute their
      securities through such underwriting shall enter into an underwriting agreement
      in customary form with the Underwriter or Underwriters selected for such
      underwriting by a majority-in-interest of the holders initiating the Demand
      Registration.

     

    2.1.4.Reduction
      of Offering.
      If the
      managing Underwriter or Underwriters for a Demand Registration that is to be
      an
      underwritten offering advises the Company and the Demanding Holders in writing
      that the dollar amount or number of shares of Registrable Securities which
      the
      Demanding Holders desire to sell, taken together with all other shares of Common
      Stock or other securities which the Company desires to sell and the shares
      of
      Common Stock, if any, as to which registration has been requested pursuant
      to
      written contractual piggy-back registration rights held by other stockholders
      of
      the Company who desire to sell, exceeds the maximum dollar amount or maximum
      number of shares that can be sold in such offering without adversely affecting
      the proposed offering price, the timing, the distribution method, or the
      probability of success of such offering (such maximum dollar amount or maximum
      number of shares, as applicable, the “Maximum
      Number of Shares”),
      then
      the Company shall include in such registration: (i) first, the Registrable
      Securities as to which Demand Registration has been requested by the Demanding
      Holders (pro rata in accordance with the number of shares that each such Person
      has requested be included in such registration, regardless of the number of
      shares held by each such Person (such proportion is referred to herein as
“Pro
      Rata”)
      that
      can be sold without exceeding the Maximum Number of Shares; (ii) second, to
      the
      extent that the Maximum Number of Shares has not been reached under the
      foregoing clause (i), the shares of Common Stock or other securities that the
      Company desires to sell that can be sold without exceeding the Maximum Number
      of
      Shares; (iii) third, to the extent that the Maximum Number of Shares has not
      been reached under the foregoing clauses (i) and (ii), the shares of Common
      Stock or other securities for the account of other persons that the Company
      is
      obligated to register pursuant to written contractual arrangements with such
      persons and that can be sold without exceeding the Maximum Number of
      Shares.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.1.5.Withdrawal.
      If a
      majority-in-interest of the Demanding Holders disapprove of the terms of any
      underwriting or are not entitled to include all of their Registrable Securities
      in any offering, such majority-in-interest of the Demanding Holders may elect
      to
      withdraw from such offering by giving written notice to the Company and the
      Underwriter or Underwriters of their request to withdraw prior to the
      effectiveness of the Registration Statement filed with the Commission with
      respect to such Demand Registration. If the majority-in-interest of the
      Demanding Holders withdraws from a proposed offering relating to a Demand
      Registration, then such registration shall not count as a Demand Registration
      provided for in Section 2.1.

     

    2.2Piggy-Back
      Registration.

     

    2.2.1.Piggy-Back
      Rights.
      If at
      any time on or after the Founder Warrant Release Date or the Initial Shares
      Release Date, as applicable, the Company proposes to file a Registration
      Statement under the Securities Act with respect to an offering of equity
      securities, or securities or other obligations exercisable or exchangeable
      for,
      or convertible into, equity securities, by the Company for its own account
      or
      for stockholders of the Company for their account (or by the Company and by
      stockholders of the Company including, without limitation, pursuant to Section
      2.1), other than a Registration Statement (i) filed in connection with any
      employee stock option or other benefit plan, (ii) for an exchange offer or
      offering of securities solely to the Company’s existing stockholders, (iii) for
      an offering of debt that is convertible into equity securities of the Company
      or
      (iv) for a dividend reinvestment plan, then the Company shall (x) give written
      notice of such proposed filing to the holders of Registrable Securities as
      soon
      as practicable but in no event less than ten (10) days before the anticipated
      filing date, which notice shall describe the amount and type of securities
      to be
      included in such offering, the intended method(s) of distribution, and the
      name
      of the proposed managing Underwriter or Underwriters, if any, of the offering,
      and (y) offer to the holders of Registrable Securities in such notice the
      opportunity to register the sale of such number of shares of Registrable
      Securities as have been released from escrow and requested by such holders
      in
      writing within five (5) days following receipt of such notice (a “Piggy-Back
      Registration”).
      The
      Company shall cause such Registrable Securities to be included in such
      registration and shall use its best efforts to cause the managing Underwriter
      or
      Underwriters of a proposed underwritten offering to permit the Registrable
      Securities requested to be included in a Piggy-Back Registration on the same
      terms and conditions as any similar securities of the Company and to permit
      the
      sale or other disposition of such Registrable Securities in accordance with
      the
      intended method(s) of distribution thereof. All holders of Registrable
      Securities proposing to distribute their securities through a Piggy-Back
      Registration that involves an Underwriter or Underwriters shall enter into
      an
      underwriting agreement in customary form with the Underwriter or Underwriters
      selected for such Piggy-Back Registration.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.2.2.Reduction
      of Offering.
      If the
      managing Underwriter or Underwriters for a Piggy-Back Registration that is
      to be
      an underwritten offering advises the Company and the holders of Registrable
      Securities in writing that the dollar amount or number of shares of Common
      Stock
      which the Company desires to sell, taken together with shares of Common Stock,
      if any, as to which registration has been demanded pursuant to written
      contractual arrangements with persons other than the holders of Registrable
      Securities hereunder, the Registrable Securities as to which registration has
      been requested under this Section 2.2, and the shares of Common Stock, if any,
      as to which registration has been requested pursuant to the written contractual
      piggy-back registration rights of other stockholders of the Company, exceeds
      the
      Maximum Number of Shares, then the Company shall include in any such
      registration:

     

    a)
      If the
      registration is undertaken for the Company’s account: (A) first, the shares of
      Common Stock or other securities that the Company desires to sell that can
      be
      sold without exceeding the Maximum Number of Shares; (B) second, to the extent
      that the Maximum Number of Shares has not been reached under the foregoing
      clause (A), the shares of Common Stock or other securities, if any, comprised
      of
      Registrable Securities, as to which registration has been requested pursuant
      to
      the applicable written contractual piggy-back registration rights of such
      security holders, Pro Rata, that can be sold without exceeding the Maximum
      Number of Shares; and (C) third, to the extent that the Maximum Number of shares
      has not been reached under the foregoing clauses (A) and (B), the shares of
      Common Stock or other securities for the account of other persons that the
      Company is obligated to register pursuant to written contractual piggy-back
      registration rights with such persons and that can be sold without exceeding
      the
      Maximum Number of Shares; 

     

    b)
      If the
      registration is a “demand” registration undertaken at the demand of persons
      other than the holders of Registrable Securities, (A) first, the shares of
      Common Stock or other securities for the account of the demanding persons that
      can be sold without exceeding the Maximum Number of Shares; (B) second, to
      the
      extent that the Maximum Number of Shares has not been reached under the
      foregoing clause (A), the shares of Common Stock or other securities that the
      Company desires to sell that can be sold without exceeding the Maximum Number
      of
      Shares; (C) third, to the extent that the Maximum Number of Shares has not
      been
      reached under the foregoing clauses (A) and (B), collectively the shares of
      Common Stock or other securities comprised of Registrable Securities, Pro Rata,
      as to which registration has been requested pursuant to the terms hereof, that
      can be sold without exceeding the Maximum Number of Shares; and (D) fourth,
      to
      the extent that the Maximum Number of Shares has not been reached under the
      foregoing clauses (A), (B) and (C), the shares of Common Stock or other
      securities for the account of other persons that the Company is obligated to
      register pursuant to written contractual arrangements with such persons, that
      can be sold without exceeding the Maximum Number of Shares.

     

    2.2.3.Withdrawal.
      Any
      holder of Registrable Securities may elect to withdraw such holder’s request for
      inclusion of Registrable Securities in any Piggy-Back Registration by giving
      written notice to the Company of such request to withdraw prior to the
      effectiveness of the Registration Statement. The Company (whether on its own
      determination or as the result of a withdrawal by persons making a demand
      pursuant to written contractual obligations) may withdraw a registration
      statement at any time prior to the effectiveness of the Registration Statement.
      Notwithstanding any such withdrawal, the Company shall pay all expenses incurred
      by the holders of Registrable Securities in connection with such Piggy-Back
      Registration as provided in Section 3.3.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.3Registrations
      on Form S-3.
      The
      holders of Registrable Securities may at any time after the date the Company
      consummates a business combination, request in writing that the Company register
      the resale of any or all of such Registrable Securities on Form S-3 or any
      similar short-form registration which may be available at such time
      (“Form
      S-3”);
      provided, however, that the Company shall not be obligated to effect such
      request through an underwritten offering. Upon receipt of such written request,
      the Company will promptly give written notice of the proposed registration
      to
      all other holders of Registrable Securities, and, as soon as practicable
      thereafter, effect the registration of all or such portion of such holder’s or
      holders’ Registrable Securities as are specified in such request, together with
      all or such portion of the Registrable Securities or other securities of the
      Company, if any, of any other holder or holders joining in such request as
      are
      specified in a written request given within fifteen (15) days after receipt
      of
      such written notice from the Company; provided, however, that the Company shall
      not be obligated to effect any such registration pursuant to this Section 2.3:
      (i) if Form S-3 is not available for such offering; or (ii) if the holders
      of
      the Registrable Securities, together with the holders of any other securities
      of
      the Company entitled to inclusion in such registration, propose to sell
      Registrable Securities and such other securities (if any) at any aggregate
      price
      to the public of less than $500,000. Registrations effected pursuant to this
      Section 2.3 shall not be counted as Demand Registrations effected pursuant
      to
      Section 2.1.

     

    3. REGISTRATION
      PROCEDURES.

     

    3.1Filings;
      Information.
      Whenever the Company is required to effect the registration of any Registrable
      Securities pursuant to Section 2, the Company shall use its best efforts to
      effect the registration and sale of such Registrable Securities in accordance
      with the intended method(s) of distribution thereof as expeditiously as
      practicable, and in connection with any such request:

     

    3.1.1.Filing
      Registration Statement.
      The
      Company shall, as expeditiously as possible after receipt of a request for
      a
      Demand Registration pursuant to Section 2.1, prepare and file with the
      Commission a Registration Statement on any form for which the Company then
      qualifies or which counsel for the Company shall deem appropriate and which
      form
      shall be available for the sale of all Registrable Securities to be registered
      thereunder in accordance with the intended method(s) of distribution thereof,
      and shall use its best efforts to cause such Registration Statement to become
      effective and use its best efforts to keep it effective for the period required
      by Section 3.1.3; provided, however, that the Company shall have the right
      to
      defer any Demand Registration for up to thirty (30) days, and any Piggy-Back
      Registration for such period as may be applicable to deferment of any demand
      registration to which such Piggy-Back Registration relates, in each case if
      the
      Company shall furnish to the holders a certificate signed by a Chief Executive
      Officer of the Company stating that, in the good faith judgment of the board
      of
      directors of the Company, it would be materially detrimental to the Company
      and
      its stockholders for such Registration Statement to be effected at such time;
      provided further, however, that the Company shall not have the right to exercise
      the right set forth in the immediately preceding proviso more than once in
      any
      365-day period in respect of a Demand Registration hereunder.

     

    3.1.2.Copies.
      The
      Company shall, prior to filing a Registration Statement or prospectus, or any
      amendment or supplement thereto, furnish without charge to the holders of
      Registrable Securities included in such registration, and such holders’ legal
      counsel, copies of such Registration Statement as proposed to be filed, each
      amendment and supplement to such Registration Statement (in each case including
      all exhibits thereto and documents incorporated by reference therein), the
      prospectus included in such Registration Statement (including each preliminary
      prospectus), and such other documents as the holders of Registrable Securities
      included in such registration or legal counsel for any such holders may request
      in order to facilitate the disposition of the Registrable Securities owned
      by
      such holders.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.1.3.Amendments
      and Supplements.
      The
      Company shall prepare and file with the Commission such amendments, including
      post-effective amendments, and supplements to such Registration Statement and
      the prospectus used in connection therewith as may be necessary to keep such
      Registration Statement effective and in compliance with the provisions of the
      Securities Act until all Registrable Securities and other securities covered
      by
      such Registration Statement have been disposed of in accordance with the
      intended method(s) of distribution set forth in such Registration Statement
      (which period shall not exceed the sum of one hundred eighty (180) days plus
      any
      period during which any such disposition is interfered with by any stop order
      or
      injunction of the Commission or any governmental agency or court) or such
      securities have been withdrawn.

     

    3.1.4.Notification.
      After
      the filing of a Registration Statement, the Company shall promptly, and in
      no
      event more than two (2) business days after such filing, notify the holders
      of
      Registrable Securities included in such Registration Statement of such filing,
      and shall further notify such holders promptly and confirm such advice in
      writing in all events within two (2) business days of the occurrence of any
      of
      the following: (i) when such Registration Statement becomes effective; (ii)
      when
      any post-effective amendment to such Registration Statement becomes effective;
      (iii) the issuance or threatened issuance by the Commission of any stop order
      (and the Company shall take all actions required to prevent the entry of such
      stop order or to remove it if entered); and (iv) any request by the Commission
      for any amendment or supplement to such Registration Statement or any prospectus
      relating thereto or for additional information or of the occurrence of an event
      requiring the preparation of a supplement or amendment to such prospectus so
      that, as thereafter delivered to the purchasers of the securities covered by
      such Registration Statement, such prospectus will not contain an untrue
      statement of a material fact or omit to state any material fact required to
      be
      stated therein or necessary to make the statements therein not misleading,
      and
      promptly make available to the holders of Registrable Securities included in
      such Registration Statement any such supplement or amendment; except that before
      filing with the Commission a Registration Statement or prospectus or any
      amendment or supplement thereto, including documents incorporated by reference,
      the Company shall furnish to the holders of Registrable Securities included
      in
      such Registration Statement and to the legal counsel for any such holders,
      copies of all such documents proposed to be filed sufficiently in advance of
      filing to provide such holders and legal counsel with a reasonable opportunity
      to review such documents and comment thereon, and the Company shall not file
      any
      Registration Statement or prospectus or amendment or supplement thereto,
      including documents incorporated by reference, to which such holders or their
      legal counsel shall object.

     

    3.1.5.State
      Securities Laws Compliance.
      The
      Company shall use its best efforts to (i) register or qualify the Registrable
      Securities covered by the Registration Statement under such securities or “blue
      sky” laws of such jurisdictions in the United States as the holders of
      Registrable Securities included in such Registration Statement (in light of
      their intended plan of distribution) may request and (ii) take such action
      necessary to cause such Registrable Securities covered by the Registration
      Statement to be registered with or approved by such other Governmental
      Authorities as may be necessary by virtue of the business and operations of
      the
      Company and do any and all other acts and things that may be necessary or
      advisable to enable the holders of Registrable Securities included in such
      Registration Statement to consummate the disposition of such Registrable
      Securities in such jurisdictions; provided, however, that the Company shall
      not
      be required to qualify generally to do business in any jurisdiction where it
      would not otherwise be required to qualify but for this paragraph or subject
      itself to taxation in any such jurisdiction.

     

    3.1.6.Agreements
      for Disposition.
      The
      Company shall enter into customary agreements (including, if applicable, an
      underwriting agreement in customary form) and take such other actions as are
      reasonably required in order to expedite or facilitate the disposition of such
      Registrable Securities. The representations, warranties and covenants of the
      Company in any underwriting agreement which are made to or for the benefit
      of
      any Underwriters, to the extent applicable, shall also be made to and for the
      benefit of the holders of Registrable Securities included in such Registration
      Statement. No holder of Registrable Securities included in such Registration
      Statement shall be required to make any representations or warranties in the
      underwriting agreement except, if applicable, with respect to such holder’s
      organization, good standing, authority, title to Registrable Securities, lack
      of
      conflict of such sale with such holder’s material agreements and organizational
      documents, and with respect to written information relating to such holder
      that
      such holder has furnished in writing expressly for inclusion in such
      Registration Statement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.1.7.Cooperation.
      The
      principal executive officer of the Company, the principal financial officer
      of
      the Company, the principal accounting officer of the Company and all other
      officers and members of the management of the Company shall cooperate fully
      in
      any offering of Registrable Securities hereunder, which cooperation shall
      include, without limitation, the preparation of the Registration Statement
      with
      respect to such offering and all other offering materials and related documents,
      and participation in meetings with Underwriters, attorneys, accountants and
      potential investors.

     

    3.1.8.Records.
      The
      Company shall make available for inspection by the holders of Registrable
      Securities included in such Registration Statement, any Underwriter
      participating in any disposition pursuant to such Registration Statement and
      any
      attorney, accountant or other professional retained by any holder of Registrable
      Securities included in such Registration Statement or any Underwriter, all
      financial and other records, pertinent corporate documents and properties of
      the
      Company, as shall be necessary to enable them to exercise their due diligence
      responsibility, and cause the Company’s officers, directors and employees to
      supply all information requested by any of them in connection with such
      Registration Statement.

     

    3.1.9.Opinions
      and Comfort Letters.
      The
      Company shall furnish to each holder of Registrable Securities included in
      any
      Registration Statement a signed counterpart, addressed to such holder, of (i)
      any opinion of counsel to the Company delivered to any Underwriter and (ii)
      any
      comfort letter from the Company’s independent public accountants delivered to
      any Underwriter. In the event no legal opinion is delivered to any Underwriter,
      the Company shall furnish to each holder of Registrable Securities included
      in
      such Registration Statement, at any time that such holder elects to use a
      prospectus, an opinion of counsel to the Company to the effect that the
      Registration Statement containing such prospectus has been declared effective
      and that no stop order is in effect.

     

    3.1.10.Earnings
      Statement.
      The
      Company shall comply with all applicable rules and regulations of the Commission
      and the Securities Act, and make available to its stockholders, as soon as
      practicable, an earnings statement covering a period of twelve (12) months,
      beginning within three (3) months after the effective date of the Registration
      Statement, which earnings statement shall satisfy the provisions of Section
      11(a) of the Securities Act and Rule 158 thereunder.

     

    3.1.11.Listing.
      The
      Company shall use its best efforts to cause all Registrable Securities included
      in any registration to be listed on such exchanges or otherwise designated
      for
      trading in the same manner as similar securities issued by the Company are
      then
      listed or designated or, if no such similar securities are then listed or
      designated, in a manner satisfactory to the holders of a majority of the
      Registrable Securities included in such registration.

     

    3.2Obligation
      to Suspend Distribution.
      Upon
      receipt of any notice from the Company of the happening of any event of the
      kind
      described in Section 3.1.4(iv), or, in the case of a resale registration on
      Form
      S-3 pursuant to Section 2.3 hereof, upon any suspension by the Company, pursuant
      to a written insider trading compliance program adopted by the Company’s Board
      of Directors, of the ability of all “insiders” covered by such program to
      transact in the Company’s securities because of the existence of material
      non-public information, each holder of Registrable Securities included in any
      registration shall immediately discontinue disposition of such Registrable
      Securities pursuant to the Registration Statement covering such Registrable
      Securities until such holder receives the supplemented or amended prospectus
      contemplated by Section 3.1.4(iv) or the restriction on the ability of
“insiders” to transact in the Company’s securities is removed, as applicable,
      and, if so directed by the Company, each such holder will deliver to the Company
      all copies, other than permanent file copies then in such holder’s possession,
      of the most recent prospectus covering such Registrable Securities at the time
      of receipt of such notice.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.3Registration
      Expenses.
      The
      Company shall bear all costs and expenses incurred in connection with any Demand
      Registration pursuant to Section 2.1, any Piggy-Back Registration pursuant
      to
      Section 2.2, and any registration on Form S-3 effected pursuant to Section
      2.3,
      and all expenses incurred in performing or complying with its other obligations
      under this Agreement, whether or not the Registration Statement becomes
      effective, including, without limitation: (i) all registration and filing fees;
      (ii) fees and expenses of compliance with securities or “blue sky” laws
      (including fees and disbursements of counsel in connection with blue sky
      qualifications of the Registrable Securities); (iii) printing expenses; (iv)
      the
      Company’s internal expenses (including, without limitation, all salaries and
      expenses of its officers and employees); (v) the fees and expenses incurred
      in
      connection with the listing of the Registrable Securities as required by Section
      3.1.11; (vi) Financial Industry Regulatory Authority, Inc. fees; (vii) fees
      and
      disbursements of counsel for the Company and fees and expenses for independent
      certified public accountants retained by the Company (including the expenses
      or
      costs associated with the delivery of any opinions or comfort letters requested
      pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts
      retained by the Company in connection with such registration and (ix) the fees
      and expenses of one legal counsel selected by the holders of a
      majority-in-interest of the Registrable Securities included in such
      registration. The Company shall have no obligation to pay any underwriting
      discounts or selling commissions attributable to the Registrable Securities
      being sold by the holders thereof, which underwriting discounts or selling
      commissions shall be borne by such holders. Additionally, in an underwritten
      offering, all selling stockholders and the Company shall bear the expenses
      of
      the underwriter pro rata in proportion to the respective amount of shares each
      is selling in such offering.

     

    3.4Information.
      The
      holders of Registrable Securities shall provide such information as may
      reasonably be requested by the Company, or the managing Underwriter, if any,
      in
      connection with the preparation of any Registration Statement, including
      amendments and supplements thereto, in order to effect the registration of
      any
      Registrable Securities under the Securities Act pursuant to Section 2 and in
      connection with the Company’s obligation to comply with federal and applicable
      state securities laws and applicable rules and regulations of governing
      agencies.

     

    4. INDEMNIFICATION
      AND CONTRIBUTION.

     

    4.1Indemnification
      by the Company.
      The
      Company agrees to indemnify and hold harmless each Investor and each other
      holder of Registrable Securities, and each of their respective officers,
      employees, affiliates, directors, partners, members, attorneys and agents,
      and
      each person, if any, who controls an Investor and each other holder of
      Registrable Securities (within the meaning of Section 15 of the Securities
      Act
      or Section 20 of the Exchange Act) (each, an “Investor
      Indemnified Party”),
      from
      and against any expenses, losses, judgments, claims, damages or liabilities,
      whether joint or several, arising out of or based upon any untrue statement
      (or
      allegedly untrue statement) of a material fact contained in any Registration
      Statement under which the sale of such Registrable Securities was registered
      under the Securities Act, any preliminary prospectus, final prospectus or
      summary prospectus contained in the Registration Statement, or any amendment
      or
      supplement to such Registration Statement, or arising out of or based upon
      any
      omission (or alleged omission) to state a material fact required to be stated
      therein or necessary to make the statements therein not misleading, or any
      violation by the Company of the Securities Act or any rule or regulation
      promulgated thereunder applicable to the Company and relating to action or
      inaction required of the Company in connection with any such registration;
      and
      the Company shall promptly reimburse the Investor Indemnified Party for any
      legal and any other expenses reasonably incurred by such Investor Indemnified
      Party in connection with investigating and defending any such expense, loss,
      judgment, claim, damage, liability or action; provided, however, that the
      Company will not be liable in any such case to the extent that any such expense,
      loss, claim, damage or liability arises out of or is based upon any untrue
      statement or allegedly untrue statement or omission or alleged omission made
      in
      such Registration Statement, preliminary prospectus, final prospectus, or
      summary prospectus, or any such amendment or supplement, in reliance upon and
      in
      conformity with information furnished to the Company, in writing, by such
      selling holder expressly for use therein. The Company also shall indemnify
      any
      Underwriter of the Registrable Securities, their officers, affiliates,
      directors, partners, members and agents and each person who controls such
      Underwriter on substantially the same basis as that of the indemnification
      provided above in this Section 4.1.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.2Indemnification
      by Holders of Registrable Securities.
      Each
      selling holder of Registrable Securities will, in the event that any
      registration is being effected under the Securities Act pursuant to this
      Agreement of any Registrable Securities held by such selling holder, indemnify
      and hold harmless the Company, each of its directors and officers and each
      underwriter (if any), and each other selling holder and each other person,
      if
      any, who controls another selling holder or such underwriter within the meaning
      of the Securities Act, against any expenses, losses, claims, judgments, damages
      or liabilities, whether joint or several, insofar as such expenses, losses,
      claims, judgments, damages or liabilities (or actions in respect thereof) arise
      out of or are based upon any untrue statement or allegedly untrue statement
      of a
      material fact contained in any Registration Statement under which the sale
      of
      such Registrable Securities was registered under the Securities Act, any
      preliminary prospectus, final prospectus or summary prospectus contained in
      the
      Registration Statement, or any amendment or supplement to the Registration
      Statement, or arise out of or are based upon any omission or the alleged
      omission to state a material fact required to be stated therein or necessary
      to
      make the statement therein not misleading, if the statement or omission was
      made
      in reliance upon and in conformity with information furnished in writing to
      the
      Company by such selling holder expressly for use therein, and shall reimburse
      the Company, its directors and officers, and each other selling holder or
      controlling person for any legal or other expenses reasonably incurred by any
      of
      them in connection with investigation or defending any such expense, loss,
      claim, damage, liability or action. Each selling holder’s indemnification
      obligations hereunder shall be several and not joint and shall be limited to
      the
      amount of any net proceeds actually received by such selling
      holder.

     

    4.3Conduct
      of Indemnification Proceedings.
      Promptly after receipt by any person of any notice of any loss, claim, damage
      or
      liability or any action in respect of which indemnity may be sought pursuant
      to
      Section 4.1 or 4.2, such person (the “Indemnified
      Party”)
      shall,
      if a claim in respect thereof is to be made against any other person for
      indemnification hereunder, notify such other person (the “Indemnifying
      Party”)
      in
      writing of the loss, claim, judgment, damage, liability or action; provided,
      however, that the failure by the Indemnified Party to notify the Indemnifying
      Party shall not relieve the Indemnifying Party from any liability which the
      Indemnifying Party may have to such Indemnified Party hereunder, except and
      solely to the extent the Indemnifying Party is actually prejudiced by such
      failure. If the Indemnified Party is seeking indemnification with respect to
      any
      claim or action brought against the Indemnified Party, then the Indemnifying
      Party shall be entitled to participate in such claim or action, and, to the
      extent that it wishes, jointly with all other Indemnifying Parties, to assume
      control of the defense thereof with counsel satisfactory to the Indemnified
      Party. After notice from the Indemnifying Party to the Indemnified Party of
      its
      election to assume control of the defense of such claim or action, the
      Indemnifying Party shall not be liable to the Indemnified Party for any legal
      or
      other expenses subsequently incurred by the Indemnified Party in connection
      with
      the defense thereof other than reasonable costs of investigation; provided,
      however, that in any action in which both the Indemnified Party and the
      Indemnifying Party are named as defendants, the Indemnified Party shall have
      the
      right to employ separate counsel (but no more than one such separate counsel)
      to
      represent the Indemnified Party and its controlling persons who may be subject
      to liability arising out of any claim in respect of which indemnity may be
      sought by the Indemnified Party against the Indemnifying Party, with the fees
      and expenses of such counsel to be paid by such Indemnifying Party if, based
      upon the written opinion of counsel of such Indemnified Party, representation
      of
      both parties by the same counsel would be inappropriate due to actual or
      potential differing interests between them. No Indemnifying Party shall, without
      the prior written consent of the Indemnified Party, consent to entry of judgment
      or effect any settlement of any claim or pending or threatened proceeding in
      respect of which the Indemnified Party is or could have been a party and
      indemnity could have been sought hereunder by such Indemnified Party, unless
      such judgment or settlement includes an unconditional release of such
      Indemnified Party from all liability arising out of such claim or
      proceeding.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.4Contribution.

     

    4.4.1.If
      the
      indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is
      unavailable to any Indemnified Party in respect of any loss, claim, damage,
      liability or action referred to herein, then each such Indemnifying Party,
      in
      lieu of indemnifying such Indemnified Party, shall contribute to the amount
      paid
      or payable by such Indemnified Party as a result of such loss, claim, damage,
      liability or action in such proportion as is appropriate to reflect the relative
      fault of the Indemnified Parties and the Indemnifying Parties in connection
      with
      the actions or omissions which resulted in such loss, claim, damage, liability
      or action, as well as any other relevant equitable considerations. The relative
      fault of any Indemnified Party and any Indemnifying Party shall be determined
      by
      reference to, among other things, whether the untrue or alleged untrue statement
      of a material fact or the omission or alleged omission to state a material
      fact
      relates to information supplied by such Indemnified Party or such Indemnifying
      Party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such statement or omission.

     

    4.4.2.The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 4.4 were determined by pro rata allocation or by any
      other method of allocation which does not take account of the equitable
      considerations referred to in the immediately preceding Section.

     

    4.4.3.The
      amount paid or payable by an Indemnified Party as a result of any loss, claim,
      damage, liability or action referred to in the immediately preceding paragraph
      shall be deemed to include, subject to the limitations set forth above, any
      legal or other expenses incurred by such Indemnified Party in connection with
      investigating or defending any such action or claim. Notwithstanding the
      provisions of this Section 4.4, no holder of Registrable Securities shall be
      required to contribute any amount in excess of the dollar amount of the net
      proceeds (after payment of any underwriting fees, discounts, commissions or
      taxes) actually received by such holder from the sale of Registrable Securities
      which gave rise to such contribution obligation. No person guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      shall be entitled to contribution from any person who was not guilty of such
      fraudulent misrepresentation.

     

    5. UNDERWRITING
      AND DISTRIBUTION.

     

    5.1Rule
      144.
      The
      Company covenants that it shall file any reports required to be filed by it
      under the Securities Act and the Exchange Act and shall take such further action
      as the holders of Registrable Securities may reasonably request, all to the
      extent required from time to time to enable such holders to sell Registrable
      Securities without registration under the Securities Act within the limitation
      of the exemptions provided by Rule 144 under the Securities Act, as such Rules
      may be amended from time to time, or any similar Rule or regulation hereafter
      adopted by the Commission.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6. MISCELLANEOUS.

     

    6.1Other
      Registration Rights.
      The
      Company represents and warrants that no person, other than a holder of the
      Registrable Securities, has any right to require the Company to register any
      shares of the Company’s capital stock for sale or to include shares of the
      Company’s capital stock in any registration filed by the Company for the sale of
      shares of capital stock for its own account or for the account of any other
      person.

     

    6.2Waiver
      of Claims against Trust Account.
      Notwithstanding any other provision of this Agreement, each Investor confirms
      its understanding that the Company has established the Trust Account relating
      to
      the Units being sold in the Company’s initial public offering. Each Investor
      acknowledges that the Trust Account will exist for the benefit of the Company’s
      public stockholders and the monies from the Trust Account may only be disbursed
      upon the occurrence of certain events, as more fully described in the prospectus
      relating to the Units. Each Investor agrees that neither it nor any of its
      affiliates have or will have any right, title, interest or claim in or to the
      monies in the Trust Account, and each Investor hereby waives any and all right,
      title, interest of claim of any kind in or to any distribution of any property
      held in the Trust Account that it or its affiliates may have now or in the
      future and hereby agrees not to seek recourse, reimbursement, payment or
      satisfaction for any claim of any kind against the Trust Account for any reason
      whatsoever, including in respect of the Company’s indemnification obligations
      set forth in this Agreement.

     

    6.3Assignment;
      Third Party Beneficiaries.
      This
      Agreement and the rights, duties and obligations of the Company hereunder may
      not be assigned or delegated by the Company in whole or in part. This Agreement
      and the rights, duties and obligations of the holders of Registrable Securities
      hereunder may be, and shall be deemed to be, freely assigned or delegated by
      such holder of Registrable Securities in conjunction with and to the extent
      of
      any permitted transfer of Registrable Securities by any such holder. This
      Agreement and the provisions hereof shall be binding upon and shall inure to
      the
      benefit of each of the parties, to SunTrust Robinson Humphrey, Inc., as
      representative of the underwriters in connection with the Company’s initial
      public offering (“SunTrust”)
      and
      its successors and the permitted assigns of the Investor or holder of
      Registrable Securities or of any assignee of the Investor or holder of
      Registrable Securities. This Agreement is not intended to confer any rights
      or
      benefits on any persons that are not party hereto other than as expressly set
      forth in Article 4, this Section 6.2 and Sections 6.7 and 6.9. Notwithstanding
      the foregoing, SunTrust shall be deemed to be an intended third party
      beneficiary of this Agreement. 

     

    6.4Notices.
      All
      notices, demands, requests, consents, approvals or other communications
      (collectively, “Notices”)
      required or permitted to be given hereunder or which are given with respect
      to
      this Agreement shall be in writing and shall be personally served, delivered
      by
      reputable air courier service with charges prepaid, or transmitted by hand
      delivery, telex or facsimile, addressed as set forth below, or to such other
      address as such party shall have specified most recently by written notice.
      Notice shall be deemed given on the date of service or transmission if
      personally served or transmitted by telex or facsimile; provided, that if such
      service or transmission is not on a business day or is after normal business
      hours, then such notice shall be deemed given on the next business day. Notice
      otherwise sent as provided herein shall be deemed given on the next business
      day
      following timely delivery of such notice to a reputable air courier service
      with
      an order for next-day delivery.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    To
      the
      Company:

     

    Green
      Energy Acquisition Corporation

    191
      Main
      Street

    Annapolis,
      MD 21401

    Attn: Wayne
      L.
      Rogers, Chief Executive Officer

    

    with
      a
      copy to:

    

    SunTrust
      Robinson Humphrey, Inc.

    3333
      Peachtree Road, NE

    Atlanta,
      GA 30326

    Attn:
      Arnold Evans

    

    

    To
      an
      Investor, to:

    

    [Name]

    c/o
      Green
      Energy Acquisition Holdings, LLC

    191
      Main
      Street 

    Annapolis,
      MD 21401

    Attn: Wayne
      L.
      Rogers

    

    A
      copy of
      any notice sent hereunder shall be sent to: 

    

    Mintz
      Levin Cohn Ferris Glovsky and Popeo, PC

    The
      Chrysler Building

    666
      Third
      Avenue 

    New
      York
      NY 10017

    Attn: Kenneth
      R. Koch, Esq.

    

    and:

    

    Bingham
      McCutchen LLP

    150
      Federal Street

    Boston,
      MA 02110

    Attn:
      Glen R. Openshaw, Esq.

     

    6.5Severability.
      This
      Agreement shall be deemed severable, and the invalidity or unenforceability
      of
      any term or provision hereof shall not affect the validity or enforceability
      of
      this Agreement or of any other term or provision hereof. Furthermore, in lieu
      of
      any such invalid or unenforceable term or provision, the parties hereto intend
      that there shall be added as a part of this Agreement a provision as similar
      in
      terms to such invalid or unenforceable provision as may be possible that is
      valid and enforceable.

     

    6.6Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, and all of which taken together shall constitute one and
      the
      same instrument.

     

    6.7Entire
      Agreement.
      This
      Agreement (including all agreements entered into pursuant hereto and all
      certificates and instruments delivered pursuant hereto and thereto) constitute
      the entire agreement of the parties with respect to the subject matter hereof
      and supersede all prior and contemporaneous agreements, representations,
      understandings, negotiations and discussions between the parties, whether oral
      or written.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.8Modifications
      and Amendments.
      No
      amendment, modification or termination of this Agreement shall be binding upon
      any party unless executed in writing by such party. Notwithstanding the
      foregoing, any and all parties must obtain the written consent of SunTrust
      to
      amend or modify this Agreement.

     

    6.9Titles
      and Headings.
      Titles
      and headings of sections of this Agreement are for convenience only and shall
      not affect the construction of any provision of this Agreement.

     

    6.10Waivers
      and Extensions.
      Any
      party to this Agreement may waive any right, breach or default which such party
      has the right to waive, provided that such waiver will not be effective against
      the waiving party unless it is in writing, is signed by such party, and
      specifically refers to this Agreement. Waivers may be made in advance or after
      the right waived has arisen or the breach or default waived has occurred. Any
      waiver may be conditional. No waiver of any breach of any agreement or provision
      herein contained shall be deemed a waiver of any preceding or succeeding breach
      thereof nor of any other agreement or provision herein contained. No waiver
      or
      extension of time for performance of any obligations or acts shall be deemed
      a
      waiver or extension of the time for performance of any other obligations or
      acts.

     

    6.11Remedies
      Cumulative.
      In the
      event that the Company fails to observe or perform any covenant or agreement
      to
      be observed or performed under this Agreement, the Investor or any other holder
      of Registrable Securities may proceed to protect and enforce its rights by
      suit
      in equity or action at law, whether for specific performance of any term
      contained in this Agreement or for an injunction against the breach of any
      such
      term or in aid of the exercise of any power granted in this Agreement or to
      enforce any other legal or equitable right, or to take any one or more of such
      actions, without being required to post a bond. None of the rights, powers
      or
      remedies conferred under this Agreement shall be mutually exclusive, and each
      such right, power or remedy shall be cumulative and in addition to any other
      right, power or remedy, whether conferred by this Agreement or now or hereafter
      available at law, in equity, by statute or otherwise.

     

    6.12Governing
      Law.
      This
      Agreement shall be governed by, interpreted under, and construed in accordance
      with the internal laws of the State of New York applicable to agreements made
      and to be performed within the State of New York, without giving effect to
      any
      choice-of-law provisions thereof that would compel the application of the
      substantive laws of any other jurisdiction.

     

    6.13Waiver
      of Trial by Jury.
      Each
      party hereby irrevocably and unconditionally waives the right to a trial by
      jury
      in any action, suit, counterclaim or other proceeding (whether based on
      contract, tort or otherwise) arising out of, connected with or relating to
      this
      Agreement, the transactions contemplated hereby, or the actions of the Investor
      in the negotiation, administration, performance or enforcement
      hereof.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties have caused this Registration Rights Agreement
      to
      be executed and delivered by their duly authorized representatives as of the
      date first written above.

     

    
      	 	 	 
	 	
              GREEN
                ENERGY ACQUISITION CORPORATION 

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Wayne
                L. Rogers, Chief Executive Officer and
                Chairman

            

    

     

    
      
        	 	 	 
	 	
                INVESTORS:

              
	 	 
	 	
                
                  Green
                    Energy Acquisition Holdings, LLC

                

              
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Wayne
                  L. Rogers, Chief Executive Officer

              

      

      
         

        
          
            	 	 	 
	 
 	 
 	 
 
	 	      	 
	 	
                    

                    
                      Craven
                        Crowell

                    

                  

          

          
            
               

              
                
                  	 	 	 
	 
 	 
 	 
 
	 	      	 
	 	
                          

                          
                            Winston
                              H. Hickox

                          

                        

                

                
 

              

            

          

        

      

    

    
      
        [Signature
          Page to Registration Rights Agreement]EXHIBIT
      10.1

    

    NEITHER
      THIS DEBENTURE NOR THE SECURITIES ISSUABLE UPON CONVERSION OF
      THIS
      DEBENTURE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
      AS
      AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS, AND NEITHER
      THIS DEBENTURE NOR THE SECURITIES ISSUABLE UPON CONVERSION OF
      THIS
      DEBENTURE CAN BE OFFERED, SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED
      OF
      UNLESS THE REGISTRATION PROVISIONS OF SUCH ACT AND OF THE APPLICABLE STATE
      SECURITIES LAWS HAVE BEEN COMPLIED WITH OR
      COMPLIANCE WITH SUCH PROVISIONS IS NOT REQUIRED.

    

    CONVERTIBLE
      DEBENTURE

     

    
      	
              $150,000

            	
              September
                19, 2007

            

    

    

    FOR
      VALUE
      RECEIVED, SPARTA COMMERCIAL SERVICES, INC., a Nevada corporation
      (the "Company"), hereby promises to pay to the order of PETER HOGAN (the
"Holder")
      the principal amount of the principal sum of ONE HUNDRED FIFTY THOUSAND
DOLLARS
      ($150,000), together with interest accrued thereon from the date hereof at
      a
      rate equal
      to
      twelve percent (12%) per annum compounded monthly, in lawful currency of the
      United States
      of
      America.

    

    The
      following is a statement of the rights of the Holder and the terms and
      conditions to which
      this Debenture is subject, to which the Holder, by acceptance of this Debenture,
      agrees:

    

    1.PAYMENT.

    

    (a) The
      outstanding principal under this Debenture and the accrued interest thereon
      shall
      be
      due and payable the earlier of December 19, 2007 or upon the Company's closing
      of a bond
      financing with a minimum funding of $1,000,000 structured by Capital Resource
      Network, Inc.
      (the
      "Maturity Date").

    

    (b) All
      payments of principal and interest under this Debenture will be made to the
      Holder
      by
      wire transfer to the account most recently specified in writing by the Holder
      or
      by check
      sent by nationally recognized courier to the address of the Holder specified
      above or to such other address as may have been most recently specified in
      writing by the Holder.

    

    (c) Notwithstanding
      any provision contained herein, the total liability of the Company
      for payment of interest pursuant hereto shall not exceed the maximum amount
      of
      such interest
      permitted by law to be charged, collected or received from the Company, and
      if
      any payments by the Company include interest in excess of such a maximum amount,
      the Holder shall
      apply such excess to the reduction of the unpaid principal amount due pursuant
      hereto, or if none
      is
      due, such excess shall be refunded to the Company.

    

    2. CONVERSION
      UPON MATURITY OF DEBENTURE. The Holder shall have the option
      of
      converting the unpaid principal balance and any accrued but unpaid interest
      of
      this Debenture
      into shares of the Company's common stock (the "Common Stock") at the price
      per
share
      of
      ($0.0504) on or before the Maturity Date (the "Conversion Price"). The Company
      will, as soon as practicable thereafter, issue and deliver to the Holder a
      certificate or certificates for that
      number of shares of restricted Common Stock to which such Holder is entitled,
      bearing such legends
      as may be required by applicable state and federal securities laws. No
      fractional shares will
      be
      issued; in lieu of any fractional share to which the Holder would otherwise
      be
      entitled, the
      Company will pay the cash value of that fractional share to the Holder. Upon
      conversion of this Debenture as set forth in this Section 2, this Debenture
      shall be cancelled and the Company will
      be
      forever released from all of its obligations and liabilities
      hereunder.

    

    3. REGISTRATION
      RIGHTS. The Company hereby grants the following registration rights to the
      Holder:

    

    If
      the
      Company at any time proposes to register any of its securities under the
      Securities Act of 1933 (the "Act") for sale to the public, whether for its
      own
      account or for the account of other
      security holders or both, except with respect to registration statements on
      Forms S-4, S-8 or another
      form not available for registering the Registrable Securities for sale to the
      public, provided the Registrable Securities are not otherwise subject to an
      effective registration statement,
      the Company will give the Holder written notice ("Notice of Registration")
      to
      cause such Registrable Securities to be included with the securities to be
      covered by the registration statement
      proposed to be filed by the Company. In the event that any registration pursuant
      to this
      Section 3(a) shall be, in whole or in part, an underwritten public offering
      of
      Common Stock of
      the
      Company, the number of shares of Registrable Securities to be included in such
      an underwriting
      may be reduced by the managing underwriter if and to the extent that the Company
      and
      the
      underwriter shall reasonably be of the opinion that such inclusion would
      adversely affect the
      marketing of the securities to be sold by the Company therein; provided,
      however, that the Company
      shall notify the Holder in writing of any such reduction. "Registrable
      Securities" means
      the
      number of shares of the Company's Common Stock, issuable pursuant to Section
      2
hereto
      as
      well as the Commitment Shares and Penalty Shares as defined
      below.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    4. REGISTRATION
      PROCEDURES. If
      and
      whenever the company is required by the provisions
      hereof to effect the registration of the Registrable Securities under the Act,
      the Company
      will:

    

    (a) prepare
      and file with the Securities and Exchange Commission (the "SEC") a registration
      statement with respect to such securities and use its best efforts to cause
      such
      registration statement to become and remain effective for the period of the
      distribution contemplated thereby (determined as herein provided), and promptly
      provide to the Holder copies
      of
      all filings and SEC letters of comment; prepare
      and file with the SEC such amendments and supplements to such registration
      statement and the prospectus used in connection therewith as may be necessary
      to
keep
      such
      registration statement effective until the earlier date of when: (i) all
      Registrable Securities have been sold or (ii) all Registrable Securities may
      be
      sold immediately without registration
      under the Securities Act and without volume restrictions pursuant to Rule
      144(k), as determined
      by the counsel to the Company pursuant to a written opinion letter to such
      effect, addressed and acceptable to the Company’s transfer agent and the
      affected Holders (the “Effectiveness Period");

    

    (c) furnish
      to the Holder such number of copies of the registration statement and the
prospectus
      included therein (including each preliminary prospectus) as the Holder
      reasonably may
      request to facilitate the public sale or disposition of the securities covered
      by such registration
      statement;

    

    (d) register
      or qualify the Holder's Registrable Securities covered by such registration
      statement under the securities or "blue sky" laws of such jurisdictions as
      the
      Holder's requests, provided,
      however, that the Company shall not for any such purpose be required to qualify
      generally
      to transact business as a foreign corporation in any jurisdiction where it
      is
      not so qualified
      or to consent to general service of process in any such
      jurisdiction;

    

    (e) list
      the
      Registrable Securities covered by such registration statement with any
securities
      exchange on which the Common Stock of the Company is then listed;

    

    (f) immediately
      notify the Holder at any time when a prospectus relating thereto is required
      to be delivered under the Act, of the happening of any event of which the
      Company has knowledge as a result of which the prospectus contained in such
      registration statement, as then in effect,
      includes an untrue statement of a material fact or omits to state a material
      fact required to be
      stated
      therein or necessary to make the statements therein not misleading in light
      of
      the circumstances
      then existing; and

    

    (g)
      make
      available for inspection by the Holder and any attorney, accountant or other
      agent
      retained by the Holder, all publicly-available, non-confidential financial
      and
      other records, pertinent
      corporate documents and properties of the Company, and cause the Company's
      officers, directors
      and employees to supply all publicly-available, non-confidential information
      reasonably requested by the attorney, accountant or agent of the
      Holder.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    5.
       PROVISION
      OF DOCUMENTS. In connection with any registration pursuant to Section 3 hereof,
      the
      Holder will furnish to the Company in writing such information and representation
      letters with respect to itself and the proposed distribution by it as reasonably
      shall be
      necessary in order to assure compliance with federal and applicable state
      securities laws.

    

    6. REGISTRATION
      EXPENSES. All expenses incurred by the Company in complying with Section 4,
      including,
      without limitation, all registration and filing fees, printing expenses,
      fees and disbursements of counsel and independent public accountants for the
      Company,
      fees and expenses (including reasonable counsel fees) incurred in connection
      with complying
      with state securities or "blue sky" laws, fees of the NASD, transfer taxes,
      fees
      of transfer
      agents and registrars, fees of, and disbursements incurred by, and costs of
      insurance are called
      "Registration Expenses". All underwriting discounts and selling commissions
      applicable to
      the
      sale of Registrable Securities, including any fees and disbursements of any
      special counsel to
      the
      Holder beyond those included in Registration Expenses, are called "Selling
      Expenses." 

    

    The
      Company will pay all Registration Expenses. All Selling Expenses in connection
      with each registration statement under Section 3 shall be borne by the
      Holder.

    

    7. INDEMNIFICATION.

    

    (a) In
      the
      event of a registration of any Registrable Securities under the Act pursuant
      to
      Section 3, the Company will indemnify and hold harmless the Holder, and its
      officers, directors
      and each other person, if any, who controls the Holder within the meaning of
      the
      Act, against
      any losses, claims, damages or liabilities, joint or several, to which the
      Holder, or such persons
      may become subject under the Act or otherwise, insofar as such losses, claims,
      damages or
      liabilities (or actions in respect thereof) arise out of or are based upon
      any
      untrue statement or alleged
      untrue statement of any material fact contained in any registration statement
      under which such
      Registrable Securities were registered under the Act pursuant to Section 3,
      any
      preliminary prospectus
      or final prospectus contained therein, or any amendment or supplement thereof,
      or arise
      out
      of or are based upon the omission or alleged omission to state therein a
      material fact required to be stated therein or necessary to make the statements
      therein not misleading, and will reimburse
      the Holder, and each such person for any reasonable legal or other expenses
      incurred by
      them
      in connection with investigating or defending any such loss, claim, damage,
      liability or action;
      provided, however, that the Company will not be liable in any such case if
      and
      to the extent that any such loss, claim, damage or liability arises out of
      or is
      based upon an untrue statement or alleged untrue statement or omission or
      alleged omission so made in conformity with
      information furnished by the Holder or any such person in writing specifically
      for use in any
      such
      document.

    

    (b) In
      the
      event of a registration of the Registrable Securities under the Act pursuant
      to
      Section 3, the Holder will indemnify and hold harmless the Company, and its
      officers, directors and each other person, if any, who controls the Company
      within the meaning of the Act, against all losses, claims, damages or
      liabilities, joint or several, to which the Company or such
      persons may become subject under the Act or otherwise, insofar as such losses,
      claims, damages
      or liabilities (or actions in respect thereof) arise out of or are based upon
      any untrue statement
      or alleged untrue statement of any material fact contained in the registration
      statement under
      which such Registrable Securities were registered under the Act pursuant to
      Section 3, any preliminary
      prospectus or final prospectus contained therein, or any amendment or supplement
      thereof,
      or arise out of or are based upon the omission or alleged omission to state
      therein a material
      fact required to be stated therein or necessary to make the statements therein
      not misleading,
      and will reimburse the Company and each such person for any reasonable legal
      or
      other expenses incurred by them in connection with investigating or defending
      any such loss, claim, damage, liability or action, provided, however, that
      the
      Holder will he liable in any such case
      if
      and only to the extent that any such loss, claim, damage or liability arises
      out
      of or is based
      upon an untrue statement or alleged untrue statement or omission or alleged
      omission so made in conformity with information furnished in writing to the
      Company by the Holder specifically for use in any such document.

    

    (c) Promptly
      after receipt by an indemnified party hereunder of notice of the commencement
      of any action, such indemnified party shall, if a claim in respect thereof
      is to
      be made
      against the indemnifying party hereunder, notify the indemnifying party in
      writing thereof, but
      the
      omission so to notify the indemnifying party shall not relieve it from any
      liability which it may have to such indemnified party other than under this
      Section 7(c) and shall only relieve it from
      any
      liability which it may have to such indemnified party under this Section 7(c)
      if
      and to the
      extent the indemnifying party is prejudiced by such omission. In case any such
      action shall be
      brought against any indemnified party and it shall notify the indemnifying
      party
      of the commencement
      thereof, the indemnifying party shall be entitled to participate in and, to
      the
extent
      it
      shall wish, to assume and undertake the defense thereof with counsel
      satisfactory to such
      indemnified party, and, after notice from the indemnifying party to such
      indemnified party of
      its
      election so to assume and undertake the defense thereof, the indemnifying party
      shall not be
      liable
      to such indemnified party under this Section 7(c) for any legal expenses
      subsequently incurred
      by such indemnified party in connection with the defense thereof; if the
      indemnified party
      retains its own counsel, then the indemnified party shall pay all fees, costs
      and expenses of such counsel, provided, however, that, if the defendants in
      any
      such action include both the indemnified
      party and the indemnifying party and the indemnified party shall have reasonably
      concluded
      that there may be reasonable defenses available to it which are different from
      or additional
      to those available to the indemnifying party or if the interests of the
      indemnified party reasonably
      may be deemed to conflict with the interests of the indemnifying party, the
      indemnified
      parties shall have the right to select one separate counsel and to assume such
      legal defenses and otherwise to participate in the defense of such action,
      with
      the reasonable expenses and
      fees
      of such separate counsel and other expenses related to such participation to
      be
reimbursed
      by the indemnifying party as incurred.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (d) In
      order
      to provide for just and equitable contribution in the event of
      joint
      liability under the Act in any case in which either (i) the Holder, or any
      controlling person of the Holder, makes a claim for indemnification pursuant
      to
      this Section 7 but it is judicially determined (by the entry of a final judgment
      or decree by a court of competent jurisdiction
      and the expiration of time to appeal or the denial of the last right of appeal)
      that such indemnification
      may not be enforced in such case notwithstanding the fact that this Section
      7
provides
      for indemnification in such case, or (ii) contribution under the Act may be
      required on the
      part
      of the Holder or controlling person of the Holder in circumstances for which
      indemnification
      is provided under this Section 7; then, and in each such case, the Company
      and
the
      Holder will contribute to the aggregate losses, claims, damages or liabilities
      to which they may
      be
      subject (after contribution from others) in such proportion so that the Holder
      is responsible
      only for the portion represented by the percentage that the public offering
      price of its securities
      offered by the registration statement bears to the public offering price of
      all
      securities offered
      by such registration statement, provided, however, that, in any such case,
      (A)
      the Holder will
      not
      be required to contribute any amount in excess of the public offering price
      of
      all such securities
      offered by it pursuant to such registration statement; and (B) no person or
      entity guilty of
      fraudulent misrepresentation (within the meaning of Section 10(f) of the Act)
      will be entitled to contribution from any person or entity who was not guilty
      of
      such fraudulent misrepresentation.

    

    8. LOAN
      COMMITMENT SHARES. The Company shall issue the Holder 100,000 shares of
      restricted common stock (the “Commitment Shares”) upon execution of this
      agreement.

    

    9. WAIVER.
      The company and all parties now of hereafter liable for the payment hereof,
      whether as endorser, guarantor, surety or otherwise, generally waive demand,
      presentment for payment, notice of dishonor, protest and notice of protest,
      diligence in collecting or bringing suit against any party hereto, and agree
      to
      all extensions,
      renewals, indulgences, releases or changes which from time to time may be
      granted by the Holder and to all partial payments hereon, with or
      without notice before or after maturity.

    

    10. ATTORNEYS'
      FEES. If this Debenture is collected by law or through an attorney for
collection
      or enforcement, the holder hereof shall be entitled to collect reasonable
      attorneys' fees and all costs of collection from the Company.

    

    11. PREPAYMENT.
      The Company and Holder acknowledge that the Company may prepay all or any
      portion of the outstanding principal amount and then accrued interest at any
      time prior to
      the
      Maturity Date without penalty.

    

    12. PENALTIES.
      If the Company has not redeemed the outstanding principal and accrued
interest
      of this Debenture in cash by the Maturity Date, Capital Resource Network, Inc.
      ("CRN") agrees
      to
      reimburse all fees paid by the Company to CRN directly to Holder within five
      (5)
      business days to be applied toward the outstanding principal balance of this
      Debenture. Additionally,
      for every 30 day period past the Maturity Date of which the principal balance
      and any
      accrued interest of this Debenture remain outstanding, the Company shall issue
      the Holder 100,000
      shares of the Company's restricted common stock to Investor (the "Penalty
      Shares").

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    12. GOVERNING
      LAW. This Debenture shall be construed according to and governed by the laws
      of
      the State of California. If any court of competent jurisdiction shall declare
      any of the terms
      of
      this Debenture invalid, such invalidity shall not affect any of the other terms
      hereof.

    

    13. AMENDMENT;
      ASSIGNMENT. No provision hereof shall be waived or amended except
      by
      an instrument in writing signed by the party against whom such waiver or
      amendment is
      sought. This Debenture is not transferable or assignable by either party without
      the other party's
      prior written consent.

    

    14. NOTICES.
      All notices hereunder shall be in writing, either mailed by first-class mail,
      postage
      prepaid, or delivered by hand or nationally recognized courier, and, if to
      the
      Company, shall
      be
      addressed to it at 462 Seventh Avenue, 20th
      Floor,
      New York, NY Attn: Anthony Havens,
      or at such other address as the Company may hereafter designate by notice to
      the
Holder,
      and, if to the Holder, addressed to the Holder at 10900 Wilshire Blvd., Suite
      500, Los Angeles,
      California 90024, or at such other address as the Holder may hereafter designate
      by notice
      to
      the Company. All such notices and communications shall be effective if mailed,
      three (3)
      days
      after mailing, and if delivered, upon delivery.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Company has caused this Debenture to be duly executed
      as
      of the
      date first above written.

    

    
      	
              SPARTA
                COMMERCIA SERVICES, INC.

            
	 
	
              By:___________________________________________

            
	
              Anthony
                Havens, CEO

            

    

    

    
      	
              AGREED
                TO AND ACKNOWLEDGED

            
	
              BY
                HOLDER

            
	 
	
              By:__________________________

            
	
              Peter
                Hogan

            
	 
	
              AGREED
                TO AND ACKNOWLEDGED 

              SOLEY
                WITH RESPECT TO SECTION 12 

              HERETO

            
	 
	
              CAPITAL
                RESOURCE NETWORK, INC.

            
	 
	
              By:_________________________

            
	
              Christopher
                Galvin, CEO

            

    

    

    
      
         

      

      
        6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}]]