Document:

Unassociated Document

    Exhibit 10.13

    

    THIRD
AMENDED AND RESTATED PROMISSORY NOTE

    

    

    
      
        
          	 
      	 
      	 
      	 
      
	
                  MAKER:

                	
                  microHelix,
      Inc.

                  P.O.
      Box 1030

                  Tualatin,
      Oregon 97062

                   

                  Moore
      Electronics, Inc.

                  P.O.
      Box 1030

                  Tualatin,
      Oregon 97062

                	
                  HOLDER:

                	
                  MH
      Financial Associates, LLC

                  c/o
      Aequitas Capital Management, Inc.

                  5300
      Meadows Road, Suite 400

                  Lake
      Oswego, Oregon  97035

                   

                
	 
      	 
      	 
      	 
      

        

      

    

     

    
      	Principal
      Amount:  $977,742.96 	 	Date of Note: June 27,
      2008

    

    

    1.      RELATED
AGREEMENT.  This Third Amended and Restated Promissory Note
(the "Note")
evidences (a) the balance of obligations owed by Maker to Holder pursuant to the
Second Amended and Restated Promissory Note dated March 12, 2007 with an unpaid
balance of $477,742.96 including accrued and unpaid interest (the "Second Note"), and
(b) an additional loan in the amount of up to $500,000.00, each as referenced in
that certain Third Agreement Regarding Amendment of Promissory Note of even date
herewith (the "Agreement").  This
Note amends, supersedes and replaces the Second Note and the obligations
represented thereby in their entirety.  Capitalized terms used in this
Note, if any, that are not defined herein have the meanings assigned to those
terms in the Agreement.

    

    2.      PROMISE TO
PAY.   microHelix, Inc. and Moore Electronics, Inc.
(together, "Maker") jointly and
severally promise to pay to the order of MH Financial Associates, LLC ("Holder") in lawful
money of the United States of America, the principal amount of $977,742.96, or
such other lesser amount as is advanced by Holder ("Advances"), together
with interest on the unpaid principal balance from the date hereof until paid in
full.  Maker will pay Holder at Holder's address shown above or at
such other place as Holder may designate in writing.

    

    3.      ADVANCES;
RESTRICTIONS.  The outstanding balance of Advances made under
this Note may fluctuate from time to time, to be increased by future Advances in
increments of $100,000 which may be made by Holder and to be decreased by
repayments made by Maker.  Maker acknowledges and agrees that Holder
is under no obligation to make any Advance under this Note and any Advance will
be based upon Maker's cash budget as accepted by Holder in Holder's sole and
absolute discretion.  As a condition to making any Advances under this
Note, Maker, its depository bank and Holder shall execute and deliver a
satisfactory account control agreement under which Holder shall be granted a
first priority lien on all funds deposited in Maker’s deposit
account.

    

    4.      INTEREST
RATE.  Effective as of the date of this Note, interest will
accrue on the outstanding principal balance of this Note at the rate of 20% per
annum on the outstanding principal balance, calculated on the basis of a 365-day
year and actual days elapsed.  NOTICE:  Under no
circumstances will the interest rate on this Note be more than the maximum rate
allowed by applicable law.

    

    5.      PAYMENT AND  MATURITY;
APPLICATION OF PAYMENTS.  Maker will pay all amounts
out­standing under this Note on the earliest of the
following:  (a) December __, 2008; (b) the closing of a loan
or other financing provided to Maker by a senior lender or other source in an
amount sufficient to pay off this Note; (c) the closing of a private
investment in public equity financing and/or any other financing event with
gross proceeds to Maker in excess of $1,000,000 (each of (a) through (c) is
individually the "Maturity Date");
provided, however, that after the occurrence of an Event of Default, the
outstanding principal and all accrued interest will be payable on
demand.  Unless otherwise agreed or required by applicable law,
payments will be applied first to expenses for which Maker is liable hereunder
(including unpaid collection costs and late charges), next to accrued and unpaid
interest, and the balance to principal.  In addition, the outstanding
principal balance and all accrued and unpaid interest will be due and payable in
the event of (x) a sale of all or substantially all of the assets of Maker, or
(y) the transfer of ownership or beneficial interest, by merger or otherwise, of
50% or more of the stock of Maker.

     

    
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4– THIRD AMENDED AND
RESTATED PROMISSORY NOTE

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.      SECURITY.  The
obligations of Maker under this Note are secured by the Security Agreement dated
April 8, 2005 made by Maker in favor of Marti D. Lundy (the "Security Agreement"),
as amended, and the collateral described therein (the "Collateral").  The
right, title and interest of Lundy under the Security Agreement has been
assigned to Holder.

    

    7.      INTEREST AFTER
DEFAULT.  Upon the occurrence of an Event of Default, including
failure to pay all amounts due upon the Maturity Date, Holder may, at its option
and if permitted by applicable law, increase the interest rate of this Note by
5% per annum.

    

    8.      DEFAULT.  Each of
the following will constitute an event of default ("Event of Default")
under this Note:

    

    8.1           Payment
Default.  Maker fails to make any payment required by this Note
within 10 days after written notice from Holder that it is due.

    

    8.2           Other
Defaults.  Maker fails to comply with or to perform any other
term, obligation, covenant or condition contained in this Note or in the
Agreement or to comply with or to perform any term, obligation, covenant or
condition contained in any other related agreement between Holder and
Maker.  If any failure, other than a failure to pay money, is curable,
it may be cured (and no Event of Default will have occurred) if Maker, after
delivery of written notice from Holder demanding cure of such failure: (a) cures
the failure within 15 days; or (b) if the cure requires more than 15 days,
immediately initiates steps sufficient to cure the failure and thereafter
continues and completes all reasonable and necessary steps sufficient to produce
compliance within 60 days after notice is sent.

    

    8.3           Default in Favor of Third
Parties.  Maker defaults under any loan, extension of credit,
security agreement, purchase or sale agreement, or any other agreement in favor
of any other creditor or person that may materially affect any of Maker's
property or Maker's ability to repay this Note or perform Maker's obligations
under this Note or any of the Related Documents.

    

    8.4           False
Statements.  Any warranty, representation or statement made or
furnished to Holder by Maker or on Maker's behalf under this Note or the
Agreement is false or misleading in any material respect.

    

    8.5           Dissolution.  The
dissolution of Maker (regardless of whether election to continue is made), or
any other termination of Maker's existence as a going business, the appointment
of a receiver for any part of Maker's property, any assignment for the benefit
of creditors, any type of creditor workout, or the commencement of any
proceeding under any bankruptcy or insolvency laws by or against
Maker.

    

    8.6           Creditor or Forfeiture
Proceedings.  Commencement of foreclosure or forfeiture
proceedings, whether by judicial proceeding, self-help, repossession or any
other method, by any creditor of Maker or by any governmental agency against any
Collateral securing this Note.

    

    8.7           Adverse Change.  A
material adverse change occurs in Maker's financial condition, or Holder
believes the prospect of payment performance of this Note has been
impaired.

    

    8.8           Insecurity.  Holder
in good faith believes itself insecure.

    

    9.      REMEDIES.  On and
after an Event of Default under this Note, Holder may exercise the following
remedies, which are cumulative and which may be exercised singularly or
concurrently:

     

    
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RESTATED PROMISSORY NOTE

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    9.1              Acceleration.  Declare
the entire unpaid principal balance of the debt evidenced by this Note, and all
accrued interest thereon and all other costs and expenses evidenced by this
Note, to be immediately due and payable.

    

    9.2Other
Remedies.  Pursue any other right or remedy provided in this
Note, in the Security Agreement, or as otherwise allowed by
law.  Holder may pursue any such rights or remedies singly, together
or successively.  Exercise of any such right or remedy will not be
deemed an election of remedies.  Failure to exercise any right or
remedy will not be deemed a waiver of any existing or subsequent default, nor a
waiver of any such right or remedy.

    

    10.           ATTORNEY FEES;
EXPENSES.

    

    10.1           If
any suit or action is instituted to interpret, enforce or rescind this Note,
including without limitation any proceeding brought under the United States
Bankruptcy Code, the prevailing party on a claim will be entitled to recover
with respect to the claim, in addition to any other relief awarded, the
prevailing party's reasonable attorney fees and other fees, costs and expenses
of every kind, including without limitation costs and disbursements specified in
ORCP 68A(2), incurred in connection with the litigation, any appeal or petition
for review, the collection of any award, or the enforcement of any order, as
determined by the court.

    

    10.2           If
an Event of Default under this Note occurs and Holder does not institute any
litigation, Maker will pay to Holder, upon Holder's demand, all reasonable costs
and expenses, including without limitation attorney fees and collection fees,
incurred by Holder in attempting to collect the indebtedness evidenced by this
Note.

    

    11.           ASSIGNMENTS. Maker
acknowledges that Holder may sell and assign its interest in this Note,
the  payments due hereunder and the Security Agreement, in whole or in
part, to an assignee (the "Assignee") which may
be represented by a bank or trust company acting as a trustee of such
Assignee.  MAKER ACKNOWLEDGES THAT ANY ASSIGNMENT OR TRANSFER BY
HOLDER OR ANY ASSIGNEE WILL NOT MATERIALLY CHANGE MAKER'S OBLIGATIONS UNDER THIS
NOTE.  Any Assignee will be entitled to enforce all the rights so
assigned but will be under no obligation to Maker to perform any of Holder's
obligations under this Note, the sole remedy of Maker being against Holder with
Maker's right against Holder being unaffected except as provided
herein.  Maker agrees that upon notice of assignment of this Note, it
will pay directly to the Assignee, unconditionally, all amounts which become due
hereunder.    Upon Holder's request, Maker will acknowledge
to any Assignee receipt of Holder's notice of assignment.

    

    12.           JURY WAIVER.  HOLDER AND
MAKER HEREBY WAIVE THE RIGHT TO ANY JURY TRIAL IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM BROUGHT BY EITHER HOLDER OR MAKER AGAINST THE
OTHER.

    

    13.           GOVERNING LAW.  This
Note will be governed by, construed and enforced in accordance with the laws of
the State of Oregon.  This Note has been accepted by Holder in the
State of Oregon.

    

    14.           CHOICE OF VENUE.  If
there is a lawsuit, Maker consents to personal jurisdiction in Oregon and agrees
that in any suit or action hereon venue will lie in Multnomah County,
Oregon.

    

    15.           SUCCESSOR
INTERESTS.  The terms of this Note will be binding upon Maker
and Maker's heirs, personal representatives, successors and assigns, and will
inure to the benefit of Holder and its successors and assigns.

    

    16.           GENERAL
PROVISIONS.  Holder may delay or forego enforcing any of its
rights or remedies under this Note without losing them.  Maker and any
other person who signs, guarantees or endorses this Note, to the extent allowed
by law, waive presentment, demand for payment and notice of
dishonor.  Upon any change in the terms of this Note, and unless
otherwise expressly stated in writing, no party who signs this Note, whether as
maker, guarantor, accommodation maker, holder or endorser, will be released from
liability.  All such parties agree that Holder may renew or extend
(repeatedly and for any length of time) this Note or release any party or
guarantor or collateral; or impair, fail to realize upon or perfect Holder's
security interest in the Collateral and take any other action deemed necessary
by Holder without the consent of or notice to anyone.  All such
parties also agree that Holder may modify this Note without the consent of or
notice to anyone other than the party with whom the modification is
made.  This Note may be modified only by an instrument in writing
signed by Maker.

     

    
      Page 3 of
4– THIRD AMENDED AND
RESTATED PROMISSORY NOTE

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  	
                                          MAKER:  

                                        	MICROHELIX,
    INC.	 
	 	 	 	 
	
                                           

                                        	
                                          By:
      

                                        	/s/ James E. Horswill	 
	 	Name: 
      	James
      E. Horswill	 
	 	Title:	President
      and CFO  	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	MOORE ELECTRONICS,
      INC.	 
	 	 	 	 
	 	By: 	/s/
      James E. Horswill	 
	 	Name:	James
      E. Horswill  	 
	 	Title:	President
      and CFO    	 

                                

                                 

                                 

                                
                                  Page 4 of
4– THIRD AMENDED AND
RESTATED PROMISSORY NOTEUnassociated Document

    Exhibit
10.14

    

    ADVISORY
SERVICES AGREEMENT

    

    This
ADVISORY SERVICES AGREEMENT (this "Agreement") is
entered into as of June 27, 2008, by and among microHelix, Inc. an
Oregon Corporation (the "Company"), and
Aequitas Capital Management, Inc., an Oregon corporation ("Aequitas").

     

    Background

     

    Aequitas
has staff skilled in strategy development, strategic planning, marketing,
corporate development and other advisory skills and services.  An
affiliate of Aequitas has consummated an investment in the Company on or about
the date hereof.  The Company will require Aequitas' special skills
and advisory services in connection with its general business operations, and
Aequitas is willing to provide such skills and services to the Company, all upon
the terms and conditions set forth in this Agreement.

     

    Agreement

     

    NOW,
THEREFORE, in consideration of the mutual promises contained herein, the parties
hereto, intending to be legally bound, do hereby agree as follows:

     

    1.           Engagement.  Upon
the terms and conditions herein set forth, the Company hereby engages Aequitas
for the Term (as defined below) to provide advisory services to the Company as
requested from time to time by the Company in consideration for the compensation
provided for in Section 3
below.  These services will be in connection with strategy
development, strategic planning, marketing, corporate development and such other
advisory services as the Company reasonably requests from time to time, and
shall be performed under the direction of the Company's Board of
Directors.  In consideration of the remuneration herein specified,
Aequitas accepts such engagement and agrees to perform the services specified
herein.

    

    2.           Term. This Agreement
shall commence on the date hereof and shall terminate (except as provided in
Section 6(h)) on the
earliest to occur of (a) a Sale Transaction (defined below), (b) an initial
Public Offering (defined below), (c) termination by Aequitas upon 30 days
written notice to the Company, (d) the date that Aequitas or an affiliate of
Aequitas ceases to have a debt or equity investment in the Company, (e) the
fifth anniversary of the date hereof (the "Term"), or
(f) termination by the Company upon six months' written notice to Aequitas;
provided, however, that if no
Sale Transaction or initial Public Offering has been consummated prior to the
fifth anniversary of the date hereof, the Term shall be automatically extended
thereafter on a year to year basis unless either party provides written notice
to the other of its desire to terminate this Agreement at least 30 days prior to
the expiration of the Term or any extension thereof.  "Sale Transaction"
means (i) the sale (in one or a series of related transactions) of all or
substantially all of the Company's assets to a Person (defined below) or a group
of Persons acting in concert, (ii) the sale or transfer (in one or a series of
related transactions) of a majority of the outstanding capital stock of the
Company, to one Person or a group of Persons acting in concert, or (iii) the
merger or consolidation of the Company with or into another Person that is not
an affiliate of the Company, in each case in clauses (ii) and (iii) above
under circumstances in which the holders of a majority in voting power of the
outstanding capital stock of the Company immediately prior to such transaction
(excluding any Person or group of persons acting in concert who are acquiring
the Company) own less than a majority in voting power of the outstanding capital
stock of the Company, or voting equity securities of the surviving or resulting
corporation or acquirer, as the case may be, immediately following such
transaction.  A sale (or multiple related sales) of assets including,
without limitation, one or more subsidiaries (whether by way of merger,
consolidation, reorganization or sale of all or substantially all assets or
securities) which constitutes all or substantially all of the assets of the
Company shall be deemed a Sale Transaction.  "Person" shall be
construed in the broadest sense and means and includes, without limitation, a
natural person, a partnership, a corporation, an association, a joint stock
company, a limited liability company, a trust, a joint venture, an
unincorporated organization and any other entity.  "Public Offering"
means an offering of equity securities of the Company or any subsidiary (or any
successor-in-interest of the foregoing) listed on a nationally recognized
exchange or quoted on The Nasdaq Stock Market that is made pursuant to an
effective registration statement under the Securities Act of 1933, as
amended.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.           Advisory Fee; Success
Fee.

    

    (a)           In
partial consideration of Aequitas' undertaking to provide the advisory services
hereunder, the Company shall pay Aequitas a monthly advisory fee of $10,000 (the
"Advisory Fee")
and the Warrant (as noted below).  The Advisory Fee shall be payable
by the Company whether or not the Company actually requests that Aequitas
provide any management advisory services.  The Advisory Fee shall be
paid monthly, in advance, for each full or partial month of service on the first
business day of each calendar month, effective beginning April 1,
2008.  If requested by Aequitas, Advisory Fee payments shall be made
by an Automated Clearing House ("ACH") transfer from the Company's checking
account.

    

    (b)           In
partial consideration and as an incentive to Aequitas, Borrower shall grant to
Aequitas a warrant entitling Aequitas to purchase 1,066,667 shares of Company's
Common Stock at an exercise price of $0.001 per share (the "Warrant"). The
Warrant will have customary anti-dilution provisions, weighted average
anti-dilution price protection, will provide for a cashless exercise option and
shall contain standard piggyback registration rights provisions (all the above
provisions shall be equal to that of the senior bridge note recently presented
to Company).  The Warrant shall be exercisable in whole or in part
anytime for up 60 months after the date of this Agreement.

    

    (c)           Notwithstanding
anything to the contrary contained herein, the Company shall accrue but not pay
the Advisory Fee if and for so long as (i) any such payment would
constitute a default (or any event which might, with the lapse of time or the
giving of notice or both, constitute a default) under the Company's financing
agreements (a "Default "); provided, however, that the Company shall be
obligated to pay any accrued Advisory Fees deferred under this Section 3(c) to the
extent that such payment would not constitute a Default or (ii) Aequitas
instructs the Company not to pay all or any portion of the Advisory Fee during
any calendar month.  Interest will accrue on all due and unpaid
Advisory Fees not paid pursuant to clause (i) of the preceding sentence at
the Default Rate until such Advisory Fees are paid, and such interest shall
compound annually.  The "Default Rate" shall be 18.0% per
annum.

    

    (d)           In
addition to the Advisory Fee, the Company shall reimburse Aequitas promptly upon
request for all reasonable out-of-pocket expenses incurred by Aequitas in
connection with Aequitas' obligations hereunder, including without limitation
the fees and expenses paid to consultants, subcontractors and other third
parties in connection with such obligations, a monthly telephone charge of $50
and a monthly administrative charge of 15% of the out-of-pocket costs and
expenses incurred.

     

    
      
        
        

      

      
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    (d)           In
addition to the foregoing, the Company shall pay Aequitas a Success Fee as
described in Exhibit A
attached hereto.

    

    (e)           On
or before the expiration of the Term of this Agreement (the "Expiration Date"),
the Company will pay Aequitas for any unpaid fees due through the Expiration
Date.

    

    4.           Additional Rights and
Obligations of the Parties.

    

    (a)           During
the Term, Aequitas shall maintain in its employ, or otherwise have available to
it, personnel in its judgment sufficient in number and adequate in ability to
perform all services that Aequitas is required to perform under this
Agreement.

    

    (b)           The
Company shall at all times cooperate with Aequitas and keep Aequitas fully
informed with regard to the business and significant activities of the Company
and its subsidiaries.

    

    (c)           Aequitas
shall diligently and faithfully perform its obligations under this Agreement,
but Aequitas shall not be responsible for any loss incurred by the Company or
any of its subsidiaries as a result of any advice or recommendations of
Aequitas.

    

    5.           Indemnification.

    

    (a)           Indemnification. The
Company agrees to indemnify and hold harmless Aequitas (including its affiliates
and its and their respective principals, officers, directors, shareholders,
partners, members, managers and employees) from and against, and pay or
reimburse Aequitas and such other indemnified persons for, any and all actions,
claims, demands, proceedings, investigations, inquiries, liabilities,
obligations, fines, deficiencies, costs, expenses, royalties, losses and damages
(whether or not resulting from third party claims) related to or arising out of
the execution, delivery or existence of this Agreement or the performance by
Aequitas of services under this Agreement, and to reimburse Aequitas and any
other indemnified person for out-of-pocket expenses and reasonable legal and
accounting expenses incurred by it in connection with or relating to
investigating, preparing to defend, defending, asserting or prosecuting any
actions, claims or other proceedings (including any investigation or inquiry)
arising in any manner out of or in connection with the execution, delivery or
existence of this Agreement or Aequitas' performance of services hereunder
(whether or not such indemnified person is a named party in such proceeding);
provided, however, that the
Company shall not be responsible under this Section 5(a) for any claims,
liabilities, losses, damages or expenses to the extent that they are finally
judicially determined (without right of further appeal) to result from actions
taken by Aequitas (or by any other indemnified person) due to Aequitas' (or by
any other indemnified person's) gross negligence, willful misconduct, bad faith
or knowing violation of applicable law. The rights to indemnification pursuant
to this Agreement shall be in addition to (but without duplication of) any other
indemnification or other rights in favor of Aequitas or its
affiliates.

     

    
      
        
        

      

      
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    (b)           Limitation on
Liability. The Company also agrees that neither Aequitas nor any other
indemnified person shall have any liability (whether direct or indirect, in
contract or tort or otherwise) to the Company for, or in connection with (i) the
retention of Aequitas pursuant to this Agreement or the performance by Aequitas
of its obligations under this Agreement, except to the extent that any such
liability is finally judicially determined (without right of further appeal) to
have resulted from Aequitas' (or such other indemnified person's) gross
negligence or willful misconduct; or (ii) any investment by Aequitas or any of
its affiliates in, or any loan by Aequitas or any of its affiliates to, the
Company or any of its affiliates.  Aequitas makes no representations
or warranties, express or implied, in respect of the services to be provided by
Aequitas under this Agreement.  The Company further acknowledges that
Aequitas' role under this Agreement is as an advisor only, that Aequitas does
not and will not have or exercise control over the Company's affairs and/or
governance, that Aequitas will have no liability for the actions of its
affiliates in the absence of gross negligence, and that the Company waives any
claims based on assertions that Aequitas exercises control or influence over the
Company's affairs.  In no event will Aequitas or any other indemnified
person be liable under this Agreement for any punitive, exemplary, indirect,
special, incidental or consequential damages, including lost profits or savings,
whether or not such damages are foreseeable, or in respect of any liabilities
relating to any third party claims (whether based in contract, tort or
otherwise).

    

    (c)           Contribution.  If
and to the extent that the indemnification provided for in Section 5(a) is not
enforceable for any reason, the Company agrees to make the maximum contribution
possible pursuant to applicable law to the payment and satisfaction of any
actions, claims, liabilities, losses and damages incurred by Aequitas or the
other indemnified persons for which they would have otherwise been entitled to
be indemnified hereunder.

    

    6.           Miscellaneous.

    

    (a)           Marketing
Authorization.  The Company agrees that Aequitas may use the
Company's name and logo, and general information concerning the Company's
relationship with Aequitas, on the Aequitas website and in Aequitas firm
brochures (typically in a form commonly known as "tombstones"), in press
releases, advertisements, and in other related marketing materials. This
authorization will extend to reissues of the advertisements and other marketing
tools which Aequitas may utilize in its marketing activities.  The
Company may notify Aequitas in writing at any time to stop further use of
references to Company in Aequitas marketing materials.

    

    (b)           Notices. All notices,
demands and other communications given or delivered under this Agreement shall
be in writing and shall be deemed to have been given (i) when personally
delivered, (ii) 3 business days after being mailed by first class mail,
certified with return receipt requested, or (iii) 1 business day after delivery
to a reputable overnight courier for next business day delivery, to the
following addresses (or such other address as is specified in
writing):

    

    Aequitas
Capital Management, Inc.

    5300
Meadows Road, Suite 400

    Lake
Oswego, OR  97035

    Attn:  Legal
Department

    

    
      
        
        

      

      
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    Attn:    James
E. Horswill, President and CFO

    microHelix, Inc.

    PO Box 1030

    Tualatin, Oregon 97062

    

    (c)           Entire Agreement; Amendment
and Modification. This Agreement constitutes the entire agreement between
the parties with respect to the subject matter hereof, superseding all prior
understandings and agreements whether written or oral.  This Agreement
may not be amended or revised except by a writing signed by Aequitas and the
Company.

    

    (d)           Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of
the parties and their respective successors and assigns but may not be assigned
(and no duties may be delegated) by any party without the prior written consent
of the other parties hereto, except that without such written consent Aequitas
may assign this Agreement to any of its affiliates.

    

    (e)           Arbitration. Any
claims or controversies relating to this Agreement shall be heard and resolved
by arbitration under the auspices and rules of Arbitration Service of Portland,
Inc. ("ASP") or another mutually acceptable arbitration
service.  Venue for arbitration proceedings shall be in Portland,
Oregon.  Arbitration shall be before 1 arbitrator, (a) selected by
mutual agreement of the parties reached 15 days after ASP or other arbitration
service has sent confirmation of notice of
filing of the demand for arbitration, or (b) if no mutual agreement can be
reached within that time, appointed by ASP or other arbitration
service.  Any such arbitrator shall be an attorney at law who has
practiced law for at least 10 years in either general commercial litigation
or general corporate
and commercial matters.  The arbitrator shall not be empowered to
award punitive damages or damages in excess of actual
damages.  Depositions may be taken and other discovery may be obtained
during such arbitration proceedings to the same extent authorized in civil
judicial proceedings.  Arbitration fees payable to the arbitrator
shall initially be paid equally by the parties; the prevailing party shall be
entitled to recover any fees so paid from the non-prevailing
party.  Any award shall be final and legally binding and may be
entered into judgment in any court of competent jurisdiction where a party
maintains assets.  Except as required by applicable law, all
arbitration proceedings and any evidence submitted therein (and particularly,
but without limitation, any trade secrets, intellectual property and other
information in which either of the parties has an expectation of privacy) shall
be kept confidential.  Notwithstanding the foregoing, no party shall
be prevented from seeking injunctive relief from a court of competent
jurisdiction in order to enforce the terms of this Agreement.  In any
action for equitable relief, the parties agree to waive any requirement for the
posting of a bond or security.

    

    (f)           Governing Law; Venue.
This Agreement shall be deemed a contract made under the laws of the state of
Oregon and, together with the rights and obligations of the parties hereunder,
will be construed under and governed by the laws of the state of Oregon, without
giving effect to any conflicts of law provisions thereunder.  The
parties irrevocably submit to the jurisdiction of any state or federal court
sitting in Multnomah County, Oregon, in any action or proceeding brought to
enforce, or otherwise arising out of or relating to, this Agreement, and hereby
waive any objection to venue in any such court and any claim that such forum is
an inconvenient forum.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
 

    (g)           Waiver of Jury Trial;
Attorney Fees.  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.  In the event suit or action
(including arbitration) is brought by any party under this Agreement to enforce
any of its terms, or in any appeal therefrom, it is agreed that the prevailing
party or parties will be entitled to reasonable attorneys fees to be fixed by
the arbitrator, trial court and/or appellate court.

    

    (h)           Survival. Upon
expiration or termination of this Agreement, all liabilities and obligations
hereunder automatically shall terminate except (i) liability for breaches by any
party prior thereto, (ii) the Company's obligations under Section 3 (with respect
to any fees payable or incurred either prior to or at the termination of this
Agreement or following termination), and (iii) the Company's obligations under
Section 5, each of which
shall survive the termination of this Agreement.

    

    (i)           Independent
Contractor.  The parties acknowledge and agree that Aequitas is
and shall act as an independent contractor of the Company in the performance of
its duties hereunder.  Aequitas is not, and in the performance of its
duties will not hold itself out as, an employee, agent or partner of the Company
or any of its subsidiaries.

    

    (i)           Counterparts. This
Agreement may be signed and delivered in multiple counterparts (including
delivery by means of facsimile), each of which shall be deemed an original but
which together shall constitute one and the same instrument.

    

    

    [Signature
Page Follows]

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
 

    IN
WITNESS WHEREOF, the parties have duly executed this Advisory Services Agreement
as of the date first above written.

     

    

     

    
      
        	 	MICROHELIX,
      INC..	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ James E. Horswill	 
	 	Name:	James
      E. Horswill	 
	 	Title:	President
      and CFO	 
	 	 	 	 

      

     

    
      
        	 	AEQUITAS
      CAPITAL MANAGEMENT, INC.	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Andy MacRitchie	 
	 	Name:	Andy
      MacRitchie	 
	 	Title:	Executive
      Vice President	 
	 	 	 	 

      

    

     

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
A

     

    Success
Fees

    

    1.           The
Company shall pay Aequitas a contingent success fee ("Success Fee") based upon
the successful consummation by the Company of each of the following types of
transactions during the term of this Agreement.  These Success Fees
shall not apply to any transactions covered under a term sheet provided the
Company by Aequitas relating to an investment by Aequitas or its
affiliates.

    

    
      	
               
      

            	
              (a)

            	
              1.50%
      of the amount of any secured debt facility commitment (plus any increases
      in commitment amount during the 12 months following the initial
      transaction) provided to the Company by a lender, including any lender now
      providing a debt facility or financing to the
  Company.

            

    

    

    
      	
               
      

            	
              (b)

            	
              3.50%
      of the amount of any subordinated/mezzanine/private debt facility or
      unsecured debt facility commitment (plus any increases in commitment
      amount during the 12 months following the initial transaction) from
      sources introduced by Aequitas.

            

    

    

    
      	
               
      

            	
              (c)

            	
              5.00%
      of the amount of new equity provided to the Company by an investor
      introduced to the Company by Aequitas. This fee will be reduced to 2.50%
      if the equity is provided by an investor who was contacted directly by the
      Company without the assistance of
Aequitas.

            

    

    

    
      	
               
      

            	
              (d)

            	
              5.00%
      of the amount of debt cancellation, debt reduction or similar discounts
      provided by lenders or creditors of the
Company.

            

    

    

    
      	
               
      

            	
              (e)

            	
              A
      percentage of the total purchase price paid or payable by the Company with
      respect to an acquisition target acquired by the Company which was
      introduced by Aequitas as follows:

            

    

    

    
      	
               
      

            	
              ·

            	
              5.00%
      of the first $5 million

            

    

    
      	
               
      

            	
              ·

            	
              4.00%
      of the next $5 million

            

    

    
      	
               
      

            	
              ·

            	
              3.00%
      of the next $5 million

            

    

    
      	
               
      

            	
              ·

            	
              2.50%  of
      any additional purchase price amount exceeding $15
  million

            

    

    

    
      	
               
      

            	
              (f)

            	
              2.50%
      of the total purchase price paid or payable by the Company with respect to
      an acquisition target acquired by the Company which was not introduced by
      Aequitas.

            

    

    

    
      	
               
      

            	
              (g)

            	
              A
      mutually agreed fee in the event of a sale of the Company or a substantial
      portion of its assets not in the ordinary course of
    business.

            

    

    

    Success
Fees shall be paid in full at the closing of each transaction. If (a) a facility
or financing commitment, or portion thereof, is based on future results of the
Company or achievement of milestones by the Company, or (b) a sale or
acquisition transaction provides for contingent or earnout payments, then the
portion of the Success Fee based on future results, milestone achievement or
contingent or earnout payments (the "Milestone Fee") shall be calculated based
upon pro forma projections developed by the Company and Aequitas.  An
amount equal to 50% of the Milestone Fee as so calculated shall be paid at the
closing of the transaction in satisfaction of the Milestone Fee.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    In the
case of an acquisition transaction, the purchase price includes consideration
payable in the form of cash, assets, receivables, securities, promissory notes,
any loans constituting an integral part of the transaction, earnouts,
investments, license or royalty agreements, assumed liabilities, covenants not
to compete, consulting agreements or employment agreements with
owners/shareholders in excess of market, leases or rents payable to
owners/shareholders in excess of market, and any other economic benefits,
rights, property or interests, including payments contingent upon future events
or conditions.

    

    Notwithstanding
anything to the contrary herein, Aequitas shall not be entitled to, and the
Company shall have no obligation to pay, a Success Fee with respect to a
publicly registered offering of the Company's securities.

    

    Upon
request, the Company agrees to execute an authorization for the lender/investor
to pay a Success Fee, and/or any unpaid Aequitas invoice amount, out of the
financing proceeds by direct wire transfer to Aequitas at closing.

     

    2.
Following the Expiration Date, Aequitas will provide the Company with a list
identifying each person it has introduced to the Company, prior to the
Expiration Date, in connection with a proposed transaction described in Section
1 above.  Each person so identified shall be an "Aequitas
Contact".  Notwithstanding the expiration of the term of this
Agreement, Aequitas will be entitled to a Success Fee as described in Section 1
above (in the same manner that a Success Fee would be due to Aequitas in the
absence of expiration) with respect to any transaction which is consummated by
the Company (a) with an Aequitas Contact during the 24 months following the
Expiration Date, or (b) with any other person during the 12 months following the
Expiration Date if Aequitas provided material assistance in connection with the
transaction.

     

    
      
        
        

      

      
        9

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