Document:

Exhibit 10.16

REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (this “Agreement”)
is made and entered into as of this 12th day of March, 2007 (the “Effective
Date”) by and among Robcor Properties, Inc., an entity which is a publicly traded
U.S. corporation (the “Company”), National Holdings Corporation, a Washington
corporation (“National”), Brean Murray, Carret & Co., LLC, a Delaware
limited liability company (“Brean Murray”, and together with National, the “Placement
Agents”) and the parties set forth on the signature page and Exhibit A
hereto (each, a “Purchaser” and collectively, the “Purchasers”).

RECITALS:

WHEREAS, in connection with certain Subscription Agreements among the
Purchasers and the Company (the “Subscription Agreement”) which have been
executed in connection with the consummation of the transactions contemplated
in that certain Confidential Private Placement Memorandum dated December 4,
2006, as supplemented (the “Memorandum”), the Company has agreed, upon the
terms and subject to the conditions of the Subscription Agreements and the
Memorandum to issue and sell to the Purchasers, and the Purchasers have agreed
to purchase from the Company, a minimum of 8,888,889 units (“Units”)
($20,000,000), each consisting of one share of Common Stock and a three-year
warrant (“Warrants”) to purchase 25% of the number of shares of Common Stock
purchased and a maximum of 12,444,444 Units ($28,000,000) (and the Company
reserves the right to sell up to an additional 2,222,222 Units ($5,000,000) at
the same price per Unit), subject to adjustment pursuant to the terms of the
Merger and the Reorganization Merger; and

WHEREAS, to induce the Purchasers to execute and deliver the
Subscription Agreements, the Company has agreed to provide certain registration
rights with respect to the shares of Common Stock sold in the Offering which
are (i) included in the Units (“Shares”) and (ii) issuable upon exercise of the
Warrants (the “Warrant Shares”) included in the Units on the terms and
conditions provided herein; and

WHEREAS, the Company has also agreed to provide certain registration
rights with respect to the shares of Common Stock issuable upon exercise of the
warrants (the “Placement Agent Warrant
Shares”) issued to the Placement Agents and their permitted transferees
(the “Placement Agent Warrants”)
on the terms and conditions provided herein.

NOW, THEREFORE, in consideration of the
mutual promises, representations, warranties, covenants, and conditions set
forth herein, the parties mutually agree as follows:

1.             Certain Definitions.  As used in this Agreement, the following
terms shall have the following respective meanings:

“Additional Shares” has the meaning as set forth in Section
3(b).

“Additional Shares Filing Date” means
the date that is 5 Business Days following a request of any Purchaser pursuant
to Section 3(b) or any events specified in Section 3(b).

“Approved Market” means the NASD
Over-the-Counter Bulletin Board, the Nasdaq National Market, the Nasdaq Capital
Market, the New York Stock Exchange, Inc. or the American Stock Exchange, Inc.

“Blackout Default Period” means a
Blackout Period that (i) exceeds 20 consecutive Trading Days or a total of 30
non-consecutive Trading Days in any 12-month period or (ii) commences sooner
than 60 days after the end of a prior Blackout Period.

“Blackout Period” means, with respect
to a registration, a period, in each case commencing on the day immediately
after the Company notifies the Purchasers that they are required, because of
the occurrence of an event of the kind described in Section 4(g) hereof, to
suspend offers and sales of Registrable Securities during which the Company, in
the good faith judgment of its board of directors, determines (because of the
existence of, or in anticipation of, any acquisition, financing activity, or
other transaction involving the Company, or the unavailability for reasons
beyond the Company’s control of any required financial statements, disclosure
of information which is in its best interest not to publicly disclose, or any
other event or condition of similar significance to the Company) that the
registration and distribution of the Registrable Securities to be covered by
such registration statement, if any, would be seriously detrimental to the
Company and its stockholders and ending on the earlier of (1) the date upon
which the material non-public information commencing the Blackout Period is
disclosed to the public or ceases to be material and (2) such time as the
Company notifies the selling Holders that the Company will no longer delay such
filing of the Registration Statement, recommence taking steps to make such
Registration Statement effective, or allow sales pursuant to such Registration
Statement to resume; provided, that the Company shall limit its use of
Blackout Default Periods.

“Business Day” means any day of the
year, other than a Saturday, Sunday, or other day on which the Commission is
required or authorized to close.

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

“Common Stock” means the common stock,
par value $.0001 per share, of the Company and any and all shares of capital
stock or other equity securities of: (i) the Company which are added to or
exchanged or substituted for the Common Stock by reason of the declaration of
any stock dividend or stock split, the issuance of any distribution or the
reclassification, readjustment, recapitalization or other such modification of
the capital structure of the Company; and (ii) any other corporation, now or
hereafter organized under the laws of any state or other governmental
authority, with which the Company is merged, which results from any
consolidation or reorganization to which the Company is a party, or to which is
sold all or substantially all of the shares or assets of the Company, if
immediately after such merger, consolidation, reorganization or sale, the
Company or the stockholders of the Company own equity securities having in the
aggregate more than 50% of the total voting power of such other corporation.

“Effectiveness Period” has the meaning as set forth in Section
4(a).

“Exchange Act” means
the Securities Exchange Act of 1934, as amended, and the rules and regulations
of the Commission promulgated thereunder.

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“Family Member” means
(a) with respect to any individual, such individual’s spouse, any descendants
(whether natural or adopted), any trust all of the beneficial interests of
which are owned by any of such individuals or by any of such individuals
together with any organization described in Section 501(c)(3) of the Internal
Revenue Code of 1986, as amended, the estate of any such individual, and any
corporation, association, partnership or limited liability company all of the
equity interests of which are owned by those above described individuals,
trusts or organizations and (b) with respect to any trust, the owners of the
beneficial interests of such trust.

“Final Closing Date” means the final closing of the purchase and
sale of the Units contemplated by the Memorandum.

“Holder” means each Purchaser or any
of such Purchaser’s respective successors and Permitted Assignees who acquire
rights in accordance with this Agreement with respect to the Registrable
Securities directly or indirectly from a Purchaser or from any Permitted
Assignee.

“Majority Holders” means at any time
Holders representing a majority of the Registrable Securities.

“Qualified Purchaser” has the meaning as set forth in Section
3(e).

“Permitted Assignee” means
(a) with respect to a partnership, its partners or former partners in
accordance with their partnership interests; (b) with respect to a
corporation, its stockholders in accordance with their interest in the
corporation; (c) with respect to a limited liability company, its members
or former members in accordance with their interest in the limited liability
company; (d) with respect to an individual party, any Family Member of
such party; (e) an entity that is controlled by, controls, or is under common
control with a transferor; or (f) a party to this Agreement.

“Placement Agents” means National and
Brean Murray collectively.

“Placement Agent Warrants” as defined
in the Recitals.

“Placement Agent Warrant Shares” as
defined in the Recitals.

“Purchase Price” means the Purchase
Price per Share set forth in the Subscription Agreement.

The terms “register,” “registered,”
and “registration” refer to a registration effected by preparing and
filing a registration statement in compliance with the Securities Act, and the
declaration or ordering of the effectiveness of such registration statement.

“Registrable
Securities” means the (i) Shares, (ii) the Warrant Shares and (iii) the
Placement Agent Warrant Shares; provided, that, a security shall cease
to be a Registrable Security upon (A) sale pursuant to a Registration Statement
or Rule 144 under the 1933 Act, or (B) such security becoming eligible for sale
pursuant to Rule 144(k) under the 1933 Act.

 “Registration Default Date” means the
date that is (i) 150 days following the Final Closing Date or (ii) in the case of a Registration
Statement covering Additional Shares, 75 days following the Additional Shares
Deadline.

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“Registration Default
Period” means the period following the Registration Default Date during
which any Registration Event occurs and is continuing.

“Registration Event”
means the occurrence of any of the following events:

(a)           the
Company fails to file with the Commission the Registration Statement on or
before the Registration Filing Date;

(b)           if a Registration Statement
covering the Additional Shares is required to be filed under Section 3(b) and the Company fails to file with the Commission
such Registration Statement by the Additional Shares Filing Date;

(c)           the Registration Statement is not
declared effective by the Commission on or before the Registration Default
Date;

(d)           after the SEC Effective Date, sales
cannot be made pursuant to the Registration Statement for any reason (including
without limitation by reason of a stop order, the Company’s failure to update
the Registration Statement or the Company’s use of a Blackout Default Period)
except as excused pursuant to Section 3(a);

(e)           the Company fails to file with
the Commission a request for acceleration in accordance with Rule 461
promulgated under the Securities Act, within 5 Trading Days of the date that
the Company is notified (orally or in writing, whichever is earlier) by the
Commission that a Registration Statement will not be “reviewed,” or is not
subject to further review; or

(f)            the Common Stock generally or the
Registrable Securities specifically are not listed or included for quotation on
an Approved Market, or trading of the Common Stock is suspended or halted on
the Approved Market, which at the time constitutes the principal market for the
Common Stock, for more than two full, consecutive Trading Days; provided,
however, a Registration Event shall not be deemed to occur if all or
substantially all trading in equity securities (including the Common Stock) is
suspended or halted on the Approved Market for any length of time.

“Registration Filing Date” means the
date that is 60 days after the Final Closing Date.

“Registration Statement” means the
registration statement that the Company is required to file pursuant to this
Agreement to register the Registrable Securities.

“Rule 144” means Rule 144 promulgated
by the Commission under the Securities Act.

“Rule 415”
means Rule 415 promulgated by the SEC pursuant to the 1933 Act, as such Rule
may be amended from time to time, or any similar rule or regulation hereafter
adopted by the SEC having substantially the same effect as such Rule.

“Securities Act” means the Securities
Act of 1933, as amended, or any similar federal statute promulgated in
replacement thereof, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time.

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“SEC Effective Date” means the date
the Registration Statement is declared effective by the Commission.

“Shares” as defined in the Recitals.

“Subscription Agreement” means the
Subscription Agreement dated as of the date hereof between the Company and the
Purchaser setting forth the terms and conditions of the Company’s offer of
Units and the Purchaser’s purchase of Units.

“Trading Day” means any day on which
the national securities exchange, the Nasdaq Stock Market, the NASD
Over-the-Counter Bulletin Board or such other securities market or quotation
system, which at the time constitutes the principal securities market for the
Common Stock, is open for general trading of securities.

 “Warrants”
as defined in the Recitals and any equity securities of: (i) the
Company which are added to or exchanged or substituted for the Warrants by
reason of the declaration of any stock dividend or stock split, the issuance of
any distribution or the reclassification, readjustment, recapitalization or
other such modification of the capital structure of the Company; and (ii) any
other corporation, now or hereafter organized under the laws of any state or
other governmental authority, with which the Company is merged, which results
from any consolidation or reorganization to which the Company is a party, or to
which is sold all or substantially all of the shares or assets of the Company,
if immediately after such merger, consolidation, reorganization or sale, the
Company or the stockholders of the Company own equity securities having in the
aggregate more than 50% of the total voting power of such other corporation.

“Warrant Shares” as defined in the
Recitals.

2.             Term.  This Agreement shall continue in full force
and effect for a period of three years from the Effective Date.

3.             Registration.

(a)           Registration
on Form S-1 or SB-2.  Not later than
the Registration Filing Date, the Company shall prepare and file with the
Commission a registration statement on Form S-1, SB-2, or other applicable form,
covering the resale by the Holders of all of the Registrable Securities, and
the Company shall use its commercially reasonable best efforts to cause such
registration statement to be declared effective prior to the Registration
Default Date; provided, however, that the Company shall not be obligated to
effect any such registration, qualification, or compliance pursuant to this
Section, or keep such registration effective pursuant to the terms hereunder:
(i) in any particular jurisdiction in which the Company would be required to
qualify to do business as a foreign corporation or as a dealer in securities
under the securities or blue sky laws of such jurisdiction or to execute a
general consent to service of process in effecting such registration, qualification
or compliance, in each case where it has not already done so; or (ii) during
any Blackout Period, in which case the Registration Filing Date shall be
extended to the date immediately following the last day of such Blackout
Period.  Such Registration Statement
shall include the plan of distribution attached hereto as Exhibit B.  Such Registration Statement also shall cover,
to the extent allowable under the Securities Act and the rules promulgated 

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thereunder
(including Rule 416), such indeterminate number of additional shares of Common
Stock resulting from stock splits, stock dividends or similar transactions with
respect to the Registrable Securities.

(b)           Additional
Registrable Securities.  Upon
the written demand of any Purchaser and upon any change in the Exercise Price
(as defined in the Warrants and the Placement Agent Warrants, respectively)
such that additional shares of Common Stock become issuable upon the exercise
of the Warrants and/or Placement Agent Warrants, the Company shall prepare and
file with the Commission one or more Registration Statements on Form SB-2, or
other applicable form, or amend the Registration Statement filed pursuant to
clause (a) above, if such Registration Statement has not previously been
declared effective, to effect a registration for resale of such additional
shares of Common Stock (the “Additional Shares”) covering the resale of the
Additional Shares, but only to the extent the Additional Shares are not at the
time covered by an effective Registration Statement.  Such Registration Statement also shall cover,
to the extent allowable under the Securities Act and the rules promulgated
thereunder (including Rule 416), such indeterminate number of additional shares
of Common Stock resulting from stock splits, stock dividends or similar
transactions with respect to the Additional Shares.

(c)           Reduction of Registrable Securities Included in
a Registration Statement. 
Notwithstanding anything contained herein, in the event that the SEC
requires the Company to reduce the number of Registrable Securities to be
included in a Registration Statement in order to allow the Company to rely on
Rule 415 with respect to a Registration Statement, then the Company shall be
obligated to include in such Registration Statement (which may be a subsequent
Registration Statement if the Company needs to withdraw the initial
Registration Statement and refile a new Registration Statement in order to rely
on Rule 415) only such limited portion of the Registrable Securities as the SEC
shall permit.  Any exclusion of
Registrable Securities shall be made pro rata among the Placement Agent and the
Purchasers in proportion to the number of Registrable Securities held such
persons; provided, however, that 100% of the Placement Agent Warrant Shares
shall be excluded prior to the exclusion of any Registrable Securities held by
the Purchasers.  Thereafter, the order of
Registrable Securities to be excluded shall be the Warrant Shares (which may be
some or all of such securities) and lastly, the Shares (in such limited number
until Rule 415 can be utilized).  Any
Registrable Securities that are excluded in accordance with the foregoing terms
are hereinafter referred to as “Cut Back Securities.”  To the extent Cut Back Securities exist, as
soon as may be permitted by the SEC, the Company shall be required to file a
registration statement on Form S-3 (or, if Form S-3 is not then available to
the Company, on Form S-1 or SB-2 or such other form of registration statement
as is then available to effect a registration for resale of the Cut Back
Securities) covering the resale of the Cut Back Securities and shall use
commercially reasonable efforts to cause such Registration Statement to be
declared effective as promptly as practicable thereafter; provided, however,
that the foregoing obligation shall cease with respect to any Cut Back
Securities at such time such Cut Back Securities are eligible for sale pursuant
to Rule 144(k) under the 1933 Act.

(d)           Other Registrations.  Prior to the SEC Effective Date, neither
the Company nor any of its security holders (other than the Holders in such
capacity pursuant hereto) may include securities of the Company in a
Registration Statement other than the Registrable Securities.  Prior
to and for a period of twelve months following the SEC Effective Date, the
Company shall not, without the prior written consent of the Majority Holders,
file any 

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other
registration statement or any amendment thereto with the Commission under the
Securities Act, other than any registration statement on Form S-8 or Form S-4.

(e)           Occurrence of Registration Event.  If a Registration Event occurs, then the
Company will make payments to each Purchaser (a “Qualified Purchaser”), as
liquidated damages, and not as a penalty, at a rate equal to 1% of the Purchase
Price per share of Registrable Securities then held by a Qualified Purchaser
monthly, for each calendar month of the Registration Default Period (pro rated
for any period less than 30 days); provided, however, if a Registration Event
occurs (or is continuing) on a date more than one-year after the Qualified
Purchaser acquired the Registrable Securities (and thus the one-year holding
period under Rule 144(d) has elapsed), liquidated damages shall be paid only
with respect to that portion of the Qualified Purchaser’s Registrable
Securities that cannot then be immediately resold in reliance on Rule 144. Each
such payment shall be due and payable within five days after the end of each
calendar month of the Registration Default Period until the termination of the Registration
Default Period and within five days after such termination.  Such payments shall constitute the Qualified
Purchaser’s exclusive remedy for such events. 
The Registration Default Period shall terminate upon (i) the filing of
the Registration Statement in the case of clause (a) of the definition of
Registration Event, (ii) the filing of a Registration Statement covering the
Additional Shares in the case of clause (b) of the definition of Registration
Event, (iii) the SEC Effective Date in the case of clause (c) of the definition
of Registration Event, (iv) the ability of the Qualified Purchaser to effect
sales pursuant to the Registration Statement in the case of clause (d) of the
definition of Registration Event, and, in the case of a Blackout Default
Period, the end of the Blackout Default Period, (v) the filing of the request
for acceleration in the case of clause (e) of the definition of Registration
Event, (vii) the listing or inclusion and/or trading of the Common Stock on an
Approved Market, as the case may be, in the case of clause (f) of the
definition of Registration Event, and (viii) in the case of the events
described in clauses (c) and (d) of the definition of Registration Event, the
earlier termination of the Registration Default Period. Such payment of
liquidated damages shall be made to each Qualified Purchaser within five (5)
calendar days after the Registration Default Period either, at the Company’s
sole option, (i) in cash or (ii) in additional shares of Common Stock of the
Company, such shares being valued at the average of the volume-weighted average
price (the “VWAP”) of the Common Stock as reported by Bloomberg Financial L.P.
(based on a Trading Day from 9:30 a.m. to 4:02 p.m. Eastern Time) using the
VWAP over the 20 Trading Days immediately prior to the date of occurrence of
the Registration Event; provided, however, that the payment of such liquidated
damages shall not relieve the Company from its obligations to register the
Registrable Securities pursuant to this Agreement.  If the Company fails to pay said cash payment
to a Qualified Purchaser entitled thereto by the applicable date specified in
the immediately preceding sentence, the Company will pay interest thereon at a
rate of 12% per annum (or such lesser maximum amount that is permitted to be
paid by applicable law) to such Qualified Purchaser, accruing daily from the
date such liquidated damages are due until such amounts, plus all such interest
thereon, are paid in full.  The total
amount of liquidated damages payable to the Qualified Purchasers, including any
interest thereon, shall in no event exceed twelve percent (12%) of the purchase
price for the Registrable Securities and if the Company is required to reduce
the number of Registrable Securities to be included in a Registration Statement
pursuant to Section 3(c) of this Agreement and the Company otherwise complies
with its covenants in this Agreement with respect to the registration of the
portion of the Registrable Securities included in 

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such
Registration Statement, the Company shall not be required to pay liquidated
damages to the Investors with respect to any Cut Back Securities.

4.             Registration Procedures.  The Company will keep each Holder reasonably
advised as to the filing and effectiveness of the Registration Statement. At
its expense with respect to the Registration Statement, the Company will:

(a)           prepare and file with the Commission
with respect to the Registrable Securities, a registration statement on Form
S-1, SB-2, or any other 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 the Registrable Securities in accordance with the
intended methods of distribution thereof, and use its commercially reasonable efforts
to cause such registration statement to become and remain effective at for a
period of two years or for such shorter period ending on the earlier to occur
of (i) the sale of all Registrable Securities and (ii) the availability under
Rule 144(k) for the Holder to sell the Registrable Securities (in either case,
the  “Effectiveness Period”);

(b)           if a registration statement is
subject to review by the Commission, promptly respond to all comments and
diligently pursue resolution of any comments to the satisfaction of the
Commission;

(c)           prepare and file with the Commission
such amendments and supplements to such registration statement and the
prospectus used in connection therewith as may be necessary to keep such
registration statement effective during the Effectiveness Period;

(d)           provide copies to and permit counsel
designated by the Placement Agents to review each Registration Statement no
fewer than seven (7) days prior to their filing with the Commission, and all
amendments and supplements thereto no fewer than three (3) days prior to their
filing with the Commission, and not file any document to which such counsel
reasonably objects;

(e)           furnish, without charge, to each
Holder of Registrable Securities covered by such registration statement (i) one
copy of such registration statement (including any exhibits thereto other than
exhibits incorporated by reference), each amendment and supplement thereto upon
the request of a Holder, (ii) such number of copies of the prospectus included
in such registration statement (including each preliminary prospectus and any
other prospectus filed under Rule 424 under the Securities Act) as the Holders
may reasonably request, in conformity with the requirements of the Securities
Act, and (iii) such other documents as such Holder may require to consummate
the disposition of the Registrable Securities owned by such Holder, but only
during the Effectiveness Period;

(f)            use its commercially reasonable best
efforts to register or qualify such registration under such other applicable
securities or blue sky laws of such jurisdictions as any Holder of Registrable
Securities covered by such registration statement reasonably requests and as
may be necessary for the marketability of the Registrable Securities (such
request to be made by the time the applicable registration statement is deemed
effective by the Commission) and do any and all other acts and things necessary
to enable such Holder to consummate the disposition 

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in
such jurisdictions of the Registrable Securities owned by such Holder;
provided, however, that the Company shall not be required to (i) qualify
generally to do business in any jurisdiction where it would not otherwise be
required to qualify but for this paragraph, (ii) subject itself to taxation in
any such jurisdiction, or (iii) consent to general service of process in any
such jurisdiction;

(g)           as promptly as practicable after
becoming aware of such event, notify each Holder of Registrable Securities, the
disposition of which requires delivery of a prospectus relating thereto under
the Securities Act, of the happening of any event, which comes to the Company’s
attention, that will after the occurrence of such event cause the prospectus
included in such registration statement, if not amended or supplemented, to contain
an untrue statement of a material fact or an omission to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading and the Company shall promptly thereafter prepare and furnish to
such Holder a supplement or amendment to such prospectus (or prepare and file
appropriate reports under the Exchange Act) so that, as thereafter delivered to
the purchasers of such Registrable Securities, such prospectus shall 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, unless suspension of the use of such prospectus otherwise is
authorized herein or in the event of a Blackout Period, in which case no
supplement or amendment need be furnished (or Exchange Act filing made) until
the termination of such suspension or Blackout Period, and in which case the Company
will use its commercially reasonable best efforts to ensure that the use of the
prospectus may be resumed as promptly as is practicable;

(h)           comply, and continue to comply during
the Effectiveness Period, in all material respects with the Securities Act and
the Exchange Act and with all applicable rules and regulations of the
Commission with respect to the disposition of all securities covered by such
registration statement;

(i)            as promptly as practicable after
becoming aware of such event, notify each Holder of Registrable Securities
being offered or sold pursuant to the Registration Statement of the issuance by
the Commission of any stop order or other suspension of effectiveness of the
Registration Statement;

(j)            cause all the Registrable Securities
covered by the Registration Statement to be quoted on the NASD OTC Bulletin
Board or such other principal securities market on which securities of the same
class or series issued by the Company are then listed or traded;

(k)           provide a transfer agent and
registrar, which may be a single entity, for the shares of Common Stock at all
times;

(l)            cooperate with the Holders of
Registrable Securities being offered pursuant to the Registration Statement to
issue and deliver, or cause its transfer agent to issue and deliver,
certificates representing Registrable Securities to be offered pursuant to the
Registration Statement within a reasonable time after the delivery of
certificates representing the Registrable Securities to the transfer agent or
the Company, as applicable, and enable such 

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certificates
to be in such denominations or amounts as the Holders may reasonably request
and registered in such names as the Holders may request;

(m)          during the Effectiveness Period,
refrain from bidding for or purchasing any Common Stock or any right to
purchase Common Stock or attempting to induce any person to purchase any such
security or right if such bid, purchase or attempt would in any way limit the
right of the Holders to sell Registrable Securities by reason of the
limitations set forth in Regulation M under the Exchange Act; and

(n)           take all other reasonable actions
necessary to expedite and facilitate the disposition by the Holders of the
Registrable Securities pursuant to the Registration Statement.

5.             Suspension of Offers and Sales.  Each Holder agrees that, upon receipt of any
notice from the Company of the happening of any event of the kind described in
Section 4(g) hereof or of the commencement of an Blackout Period, such Holder
shall discontinue the disposition of Registrable Securities included in the
Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended prospectus contemplated by Section 4(g) hereof or
notice of the end of the Blackout Period, and, if so directed by the Company,
such Holder shall deliver to the Company (at the Company’s expense) all copies
(including, without limitation, any and all drafts), other than permanent file
copies, then in such Holder’s possession, of the prospectus covering such
Registrable Securities current at the time of receipt of such notice.

6.             Registration Expenses.  The Company shall pay all expenses in
connection with any registration obligation provided herein, including, without
limitation, all registration, filing, stock exchange fees, printing expenses,
all fees and expenses of complying with securities or blue sky laws, expenses
of one counsel to the Placement Agents (not to exceed $7,500), and the fees and disbursements of counsel
for the Company and of its independent accountants; provided that, in any
underwritten registration, each party shall pay for its own underwriting
discounts and commissions and transfer taxes. Except as provided in this
Section and Section 9, the Company shall not be responsible for the expenses of
any attorney or other advisor employed by a Holder.

7.             Assignment of Rights.  No Holder may assign its rights under this
Agreement to any party without the prior written consent of the Company;
provided, however, that a Holder may assign its rights under this Agreement
without such consent to a Permitted Assignee as long as: (a) such transfer or
assignment is effected in accordance with applicable securities laws;
(b) such transferee or assignee agrees in writing to become subject to the
terms of this Agreement; and (c) the Company is given written notice by such
Holder of such transfer or assignment, stating the name and address of the
transferee or assignee and identifying the Registrable Securities with respect
to which such rights are being transferred or assigned.

8.             Information by Holder.  Holders included in any registration shall
furnish to the Company such information as the Company may reasonable request
in writing regarding such Holders and the distribution proposed by such
Holders.  The failure of a Holder to
provide such information to the Company will suspend the Company’s obligation
to register the Registrable Securities of such Holder, and the failure to
register such Registrable Securities will not be deemed a Registration Event
hereunder.

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9.             Indemnification.

(a)           In
the event of the offer and sale of Registrable Securities under the Securities
Act, the Company shall, and hereby does, indemnify and hold harmless, to the
fullest extent permitted by law, each Holder, its directors, officers, partners,
each other person who participates as an underwriter in the offering or sale of
such securities, and each other person, if any, who controls or is under common
control with such Holder or any such underwriter within the meaning of Section
15 of the Securities Act, against any losses, claims, damages or liabilities,
joint or several, and expenses to which the Holder or any such director,
officer, partner or underwriter or controlling person may become subject under
the Securities Act or otherwise, insofar as such losses, claims, damages,
liabilities, or expenses (or actions or proceedings, whether commenced or
threatened, in respect thereof) arise out of or are based upon any untrue
statement of any material fact contained in any registration statement prepared
and filed by the Company under which shares of Registrable Securities were
registered under the Securities Act, any preliminary prospectus, final
prospectus or summary prospectus contained therein, or any amendment or
supplement thereto, or any omission to state therein a material fact required
to be stated therein or necessary to make the statements therein in light of
the circumstances in which they were made not misleading, and the Company shall
reimburse the Holder, and each such director, officer, partner, underwriter and
controlling person for any legal or any other expenses reasonably incurred by
them in connection with investigating, defending or settling any such loss,
claim, damage, liability, action or proceeding; provided that the Company shall
not be liable in any such case (i) to the extent that any such loss, claim,
damage, liability (or action or proceeding in respect thereof) or expense
arises out of or is based upon an untrue statement in or omission from such
registration statement, any such preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement in reliance upon and in conformity
with written information furnished to the Company through an instrument duly
executed by or on behalf of such Holder specifically stating that it is for use
in the preparation thereof or (ii) if the person asserting any such loss,
claim, damage, liability (or action or proceeding in respect thereof) who
purchased the Registrable Securities that are the subject thereof did not
receive a copy of an amended preliminary prospectus or the final prospectus (or
the final prospectus as amended or supplemented) at or prior to the written
confirmation of the sale of such Registrable Securities to such person because
of the failure of such Holder or underwriter to so provide such amended
preliminary or final prospectus and the untrue statement or omission of a
material fact made in such preliminary prospectus was corrected in the amended
preliminary or final prospectus (or the final prospectus as amended or
supplemented). Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of the Holders, or any such director,
officer, partner, underwriter or controlling person and shall survive the transfer
of such shares by the Holder.

(b)           As a condition to including
Registrable Securities in any registration statement filed pursuant to this
Agreement, each Holder agrees to be bound by the terms of this Section 9 and to
indemnify and hold harmless, to the fullest extent permitted by law, the
Company, its directors and officers, and each other person, if any, who
controls the Company within the meaning of Section 15 of the Securities Act,
against any losses, claims, damages or liabilities, joint or several, to which
the Company or any such director or officer or controlling person may become
subject under the Securities Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions or proceedings, whether commenced or
threatened, in respect 

 11
 

thereof) that arises out of
or is based upon an untrue statement in or omission from such registration
statement, any such preliminary prospectus, final prospectus, summary
prospectus, amendment or supplement in reliance upon and in conformity with
written information furnished to the Company through an instrument duly
executed by or on behalf of the Holder specifically stating that it is for use
in the preparation thereof, and such Holder shall reimburse the Company, and
each such director, officer, and controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating,
defending, or settling and such loss, claim, damage, liability, action, or
proceeding; provided, however, that such indemnity agreement found in this
Section 9 shall in no event exceed the gross proceeds from the offering
received by such Holder.  Such indemnity
shall remain in full force and effect, regardless of any investigation made by
or on behalf of the Company or any such director, officer or controlling person
and shall survive the transfer by any Holder of such shares.

(c)           Promptly after receipt by an
indemnified party of notice of the commencement of any action or proceeding
involving a claim referred to in this Section (including any governmental
action), such indemnified party shall, if a claim in respect thereof is to be
made against an indemnifying party, give written notice to the indemnifying
party of the commencement of such action; provided that the failure of any
indemnified party to give notice as provided herein shall not relieve the
indemnifying party of its obligations under this Section, except to the extent
that the indemnifying party is actually prejudiced by such failure to give
notice.  In case any such action is brought
against an indemnified party, unless in the reasonable judgment of counsel to
such indemnified party a conflict of interest between such indemnified and
indemnifying parties may exist or the indemnified party may have defenses not
available to the indemnifying party in respect of such claim, the indemnifying
party shall be entitled to participate in and to assume the defense thereof,
with counsel reasonably satisfactory to such indemnified party and, after
notice from the indemnifying party to such indemnified party of its election so
to assume the defense thereof, the indemnifying party shall not be liable to
such indemnified party for any legal or other expenses subsequently incurred by
the latter in connection with the defense thereof, unless in such indemnified
party’s reasonable judgment a conflict of interest between such indemnified and
indemnifying parties arises in respect of such claim after the assumption of
the defenses thereof or the indemnifying party fails to defend such claim in a
diligent manner, other than reasonable costs of investigation.  Neither an indemnified nor an indemnifying
party shall be liable for any settlement of any action or proceeding effected
without its consent.  No indemnifying
party shall, without the consent of the indemnified party, consent to entry of
any judgment or enter into any settlement, which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
indemnified party of a release from all liability in respect of such claim or
litigation.  Notwithstanding anything to
the contrary set forth herein, and without limiting any of the rights set forth
above, in any event any party shall have the right to retain, at its own
expense, counsel with respect to the defense of a claim.

(d)           In the event that an indemnifying
party does or is not permitted to assume the defense of an action pursuant to
Sections 9(c) or in the case of the expense reimbursement obligation set forth
in Sections 9(a) and (b), the indemnification required by Sections 9(a) and (b)
hereof shall be made by periodic payments of the amount thereof during the
course of the investigation or defense, as and when bills received or expenses,
losses, damages, or liabilities are incurred.

 12
 

(e)           If the indemnification provided for
in this Section is held by a court of competent jurisdiction to be unavailable
to an indemnified party with respect to any loss, liability, claim, damage or
expense referred to herein, the indemnifying party, in lieu of indemnifying
such indemnified party hereunder, shall (i) contribute to the amount paid or
payable by such indemnified party as a result of such loss, liability, claim,
damage or expense as is appropriate to reflect the proportionate relative fault
of the indemnifying party on the one hand and the indemnified party on the
other (determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or omission relates to information
supplied by the indemnifying party or the indemnified party and the parties’
relative intent, knowledge, access to information and opportunity to correct or
prevent such untrue statement or omission), or (ii) if the allocation provided
by clause (i) above is not permitted by applicable law or provides a lesser sum
to the indemnified party than the amount hereinafter calculated, not only the
proportionate relative fault of the indemnifying party and the indemnified
party, but also the relative benefits received by the indemnifying party on the
one hand and the indemnified party on the other, as well as any other relevant
equitable considerations. No indemnified party guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any indemnifying party who was not
guilty of such fraudulent misrepresentation.

(f)            Indemnification similar to that
specified in this Section (with appropriate modifications) shall be given by
the Company and each Holder of Registrable Securities with respect to any required
registration or other qualification of securities under any federal or state
law or regulation or governmental authority other than the Securities Act.

10.           Rule 144.  For a period of at least 24 months following
the Final Closing Date, the Company will use its commercially reasonable best
efforts to timely file all reports required to be filed by the Company after
the date hereof under the Securities Act and the Exchange Act and the rules and
regulations adopted by the Commission thereunder, and if the Company is not
required to file reports pursuant to such sections, it will prepare and furnish
to the Purchasers and make publicly available in accordance with Rule 144(c)
such information as is required for the Purchasers to sell shares of Common Stock
under Rule 144.

11.           Independent Nature of Each
Purchaser’s Obligations and Rights. 
The obligations of each Purchaser under this Agreement are several and
not joint with the obligations of any other Purchaser, and each Purchaser shall
not be responsible in any way for the performance of the obligations of any
other Purchaser under this Agreement. Nothing contained herein and no action
taken by any Purchaser pursuant hereto, shall be deemed to constitute such
Purchasers as a partnership, an association, a joint venture, or any other kind
of entity, or create a presumption that the Purchasers are in any way acting in
concert or as a group with respect to such obligations or the transactions
contemplated by this Agreement. Each Purchaser shall be entitled to independently
protect and enforce its rights, including without limitation the rights arising
out of this Agreement, and it shall not be necessary for any other Purchaser to
be joined as an additional party in any proceeding for such purpose.

 13
 

12.           Miscellaneous.

(a)           Governing
Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York and the United States of America, both
substantive and remedial, without regard to conflicts of law principles. Any
judicial proceeding brought against either of the parties to this agreement or
any dispute arising out of this Agreement or any matter related hereto shall be
brought in the courts of the State of New York, New York County, or in the
United States District Court for the Southern District of New York and, by its
execution and delivery of this agreement, each party to this Agreement accepts
the jurisdiction of such courts. The foregoing consent to jurisdiction shall
not be deemed to confer rights on any person other than the parties to this
Agreement.

(b)           Successors and Assigns.  Except as otherwise provided herein, the
provisions hereof shall inure to the benefit of, or be binding upon, the
successors, Permitted Assignees, executors and administrators of the parties
hereto.  In the event the Company merges
with, or is otherwise acquired by, another publicly traded company, or a direct
or indirect subsidiary of a publicly traded company, the Company shall
condition the merger or acquisition on the assumption by such public company of
the Company’s rights and obligations under this Agreement.

(c)           Entire Agreement.  This Agreement constitutes the full and
entire understanding and agreement between the parties with regard to the
subjects hereof.

(d)           Notices, etc. All notices or
other communications which are required or permitted under this Agreement shall
be in writing and sufficient if delivered by hand, by facsimile transmission,
by registered or certified mail, postage pre-paid, by electronic mail, or by
courier or overnight carrier, to the persons at the addresses set forth below
(or at such other address as may be provided hereunder), and shall be deemed to
have been delivered as of the date so delivered:

If to the Company to:

Robcor
Properties, Inc.

2005 Eastpark Blvd.

Cranbury, NJ  08512-3515

Attention:  F. Raymond
Salemme, Ph.D.

Fax:  (609) 860-5900

With copy to:

Morgan,
Lewis & Bockius LLP

502 Carnegie Center

Princeton, New Jersey  08540

Attention: Andrew P. Gilbert, Esq.

Fax: (609) 919-6701

 14
 

If to Brean Murray:

Brean Murray, Carret & Co., LLC

570 Lexington Avenue, 11th Floor

New York, NY 10022

Attention:  William McCluskey

Fax:  (212) 702-6548

If to National:

National Securities Corporation

875 N. Michigan Avenue, Suite 1560

Chicago, IL 60611

Attention: Brian Friedman, Director Corporate Finance

Fax:  (312) 751-0769

With a copy to:

Littman Krooks LLP

655 Third Avenue, 20th Floor

New York, NY 10017

Attention:  Steven Uslaner, Esq.

Fax:  (212) 490-2990

If
to the Purchasers:

To each Purchaser at the address

set forth on the Omnibus Signature

Page in the Subscription Agreement

or
at such other address as any party shall have furnished to the other parties in
writing.

(e)           Delays or Omissions.  No delay or omission to exercise any right,
power or remedy accruing to any Holder, upon any breach or default of the
Company under this Agreement, shall impair any such right, power or remedy of
such Holder nor shall it be construed to be a waiver of any such breach or
default, or an acquiescence therein, or of or in any similar breach or default
thereunder occurring; nor shall any waiver of any single breach or default be
deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on
the part of any Holder of any breach or default under this Agreement, or any
waiver on the part of any Holder of any provisions or conditions of this
Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under this
Agreement, or by law or otherwise afforded to any holder, shall be cumulative
and not alternative.

(f)            Counterparts.  This Agreement may be executed in any number
of counterparts, each of which shall be enforceable against the parties
actually executing such counterparts, and all of which together shall
constitute one instrument.  In the event
that any

 15
 

signature is delivered by
facsimile transmission, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile signature page
were an original thereof.

(g)           Severability. In the case any
provision of this Agreement shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

(h)           Amendments. The provisions of
this Agreement may be amended at any time and from time to time, and particular
provisions of this Agreement may be waived, with and only with an agreement or
consent in writing signed by the Company and the Majority Holders. The
Purchasers acknowledge that by the operation of this Section, the Majority
Holders may have the right and power to diminish or eliminate all rights of the
Purchasers under this Agreement.

[SIGNATURE
PAGES FOLLOW]

 16
 

This Registration Rights Agreement is hereby
executed as of the date first above written.

	
   

  	
   

  	
  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Robcor
  Properties, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ F. RAYMOND
  SALEMME, PH.D.

  
	
   

  	
   

  	
  Name:

  	
   

  	
  F. Raymond Salemme, Ph.D.

  
	
   

  	
   

  	
  Its:

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PLACEMENT AGENTS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  National Holdings Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ BRIAN
  FRIEDMAN

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Brian Friedman

  
	
   

  	
   

  	
  Its:

  	
   

  	
  Director of Corporate Finance

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Brean Murray, & Carret Co., LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ KENNETH J.
  KIRSCH

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Kenneth J. Kirsch

  
	
   

  	
   

  	
  Its:

  	
   

  	
  Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PURCHASERS:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [Contained in Omnibus Signature Page in the

  Subscription Agreement]

  

 

 17
 

Exhibit A

Investor List Attached

 

 18

Exhibit
B

Plan
of Distribution

The
selling stockholders (and any of their donees, pledgees, transferees or other
successors-in-interest of a selling stockholder selling shares of our common
stock or interests in shares of common stock received after the date of this
prospectus from a selling stockholder as a gift, pledge, partnership
distribution or other transfer) may, from time to time, sell, transfer or
otherwise dispose of any or all of their shares of common stock or interests in
shares of common stock on any stock exchange, market or trading facility on
which the shares are traded or in private transactions.  These dispositions may be at fixed prices, at
prevailing market prices at the time of sale, at prices related to the
prevailing market price, at varying prices determined at the time of sale, or
at negotiated prices.

The
Selling Stockholders may use any one or more of the following methods when
disposing of shares or interests therein:

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

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

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

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

-                    privately
negotiated transactions;

-                    short sales
effected after the date the registration statement of which this Prospectus is
a part is declared effective by the Commission;

-                    through the
writing or settlement of options or other hedging transactions, whether through
an options exchange or otherwise;

-                    broker-dealers
may agree with the Selling Stockholders to sell a specified number of such
shares at a stipulated price per share; and

-                    a combination
of any such methods of sale.

The
selling stockholders may, from time to time, pledge or grant a security
interest in some or all of the shares of common stock owned by them and, if
they default in the performance of their secured obligations, the pledgees or
secured parties may offer and sell the shares of common stock, from time to
time, under this prospectus, or under an amendment to this prospectus under
Rule 424(b)(3) or other applicable provision of the Securities Act amending the

 B-1
 

list of selling
stockholders to include the pledgee, transferee or other successors-in-interest
as selling stockholders under this prospectus. 
The selling stockholders also may transfer the shares of common stock in
other circumstances, in which case the transferees, pledgees or other
successors-in-interest will be the selling beneficial owners for purposes of
this prospectus.

Broker-dealers
engaged by the selling stockholders may arrange for other brokers-dealers to
participate in sales. Broker-dealers may receive commissions or discounts from
the selling stockholders (or, if any broker-dealer acts as agent for the
purchaser of shares, from the purchaser) in amounts to be negotiated. The selling
stockholders do not expect these commissions and discounts to exceed what is
customary in the types of transactions involved.

The
Company has advised the selling stockholders that they may not use shares
registered on this registration statement to cover short sales of common stock
made prior to the date on which this registration statement is declared
effective by the Securities and Exchange Commission.  After the registration statement has been
declared effective, in connection with the sale of our common stock or
interests therein, the selling stockholders may enter into hedging transactions
with broker-dealers or other financial institutions, which may in turn engage
in short sales of the common stock in the course of hedging the positions they
assume.  The selling stockholders may
also sell shares of our common stock short and deliver these securities to
close out their short positions, or loan or pledge the common stock to
broker-dealers that in turn may sell these securities.  The selling stockholders may also enter into
option or other transactions with broker-dealers or other financial
institutions or the creation of one or more derivative securities which require
the delivery to such broker-dealer or other financial institution of shares
offered by this prospectus, which shares such broker-dealer or other financial
institution may resell pursuant to this prospectus (as supplemented or amended
to reflect such transaction).

The
selling stockholders will receive the aggregate proceeds from the sale of the
common stock offered by them.  The
aggregate proceeds to the selling stockholders from the sale of the common
stock offered by them will be the purchase price of the common stock less
discounts or commissions, if any.  Each
of the selling stockholders reserves the right to accept and, together with
their agents from time to time, to reject, in whole or in part, any proposed
purchase of common stock to be made directly or through agents.  We will not receive any of the proceeds from
the sale of common stock in this offering. 
We may receive proceeds from holders who exercise their warrants and pay
the applicable cash exercise price in connection with those exercises.

The
selling stockholders also may resell all or a portion of the shares in open
market transactions in reliance upon Rule 144 under the Securities Act of 1933,
provided that they meet the criteria and conform to the requirements of that
rule.

The
selling stockholders and any underwriters, broker-dealers or agents that
participate in the sale of the common stock or interests therein may be “underwriters”
within the meaning of Section 2(11) of the Securities Act.  Any discounts, commissions, concessions or
profit they earn on any resale of the shares may be underwriting discounts and
commissions under the Securities Act. 
Selling stockholders who are “underwriters” within the meaning of
Section 2(11) of the Securities Act will be subject to the prospectus delivery
requirements of the Securities Act.

 B-2
 

To
the extent required, the shares of our common stock to be sold, the names of
the selling stockholders, the respective purchase prices and public offering
prices, the names of any agent, dealer or underwriter, any applicable
commissions or discounts with respect to a particular offer will be set forth
in an accompanying prospectus supplement or, if appropriate, a post-effective
amendment to the registration statement that includes this prospectus.

In
order to comply with the securities laws of some states, if applicable, the
common stock may be sold in these jurisdictions only through registered or
licensed brokers or dealers.  In
addition, in some states the common stock may not be sold unless it has been
registered or qualified for sale or an exemption from registration or
qualification requirements is available and is complied with.

We
have advised the selling stockholders that the anti-manipulation rules of
Regulation M under the Securities Exchange Act of 1934 may apply to sales of
shares in the market and to the activities of the selling stockholders and
their affiliates.  In addition, we will
make copies of this prospectus (as it may be supplemented or amended from time
to time) available to the selling stockholders for the purpose of satisfying
the prospectus delivery requirements of the Securities Act.  The selling stockholders may indemnify any
broker-dealer that participates in transactions involving the sale of the
shares of common stock against certain liabilities, including liabilities
arising under the Securities Act.

We
will pay all expenses incident to registration other than commissions, fees and
discounts of underwriters, brokers, dealers and agents.  We will pay for offering expenses including
the Commission registration fee, accounting fees, legal fees, printing expenses
and other related miscellaneous expenses. We have agreed to indemnify the
selling stockholders against liabilities, including liabilities under the
Securities Act and state securities laws, relating to the registration of the
shares offered by this prospectus.

We
have agreed with the selling stockholders to keep the registration statement of
which this Prospectus constitutes a part effective until the earlier of (1)
such time as all of the shares covered by this prospectus have been disposed of
pursuant to and in accordance with the registration statement or (2) the date
on which the shares may be sold pursuant to Rule 144(k) of the Securities
Act.  Notwithstanding anything contained
herein to the contrary, an aggregate of                
shares of Common Stock issuable upon exercise of warrants held by NSC, BMC
and/or “associated persons” of NSC and BMC are subject to a 180 day lock-up
agreement in accordance with the requirements of NASD Rule 2710(g)(1).

 B-3Exhibit 10.17

REGISTRATION
RIGHTS AGREEMENT

This Registration Rights Agreement (this “Agreement”)
is entered into as of this 12th day of March, 2007, by and among Robcor
Properties, Inc., a publicly traded Florida corporation (the “Company”)
and the Persons (as defined below) listed on Exhibit A
and Exhibit B hereto (the “Existing Stockholders”).

RECITALS

WHEREAS,
the Company has negotiated an Agreement and Plan of Merger by and among
Redpoint Bio Corporation, a Delaware corporation (“Redpoint”), on the
one hand, and the Company, Robcor Acquisition Corp., a Delaware corporation and
wholly-owned subsidiary of the Company (“Merger Sub”), Robcor, LLC, a
Kentucky limited liability company and wholly-owned subsidiary of the Company
and Halter Financial Investments, L.P., a Texas limited partnership, and
Michael Heitz, as stockholders of the Company, on the other hand (the “Merger
Agreement”), whereby Merger Sub is to be merged with and into Redpoint in
accordance with the terms of the Merger Agreement and the Delaware General
Corporation Law (“DGCL”), with Redpoint continuing as the surviving
corporation and a wholly-owned subsidiary of the Company (the “Merger”),
and the outstanding shares of capital stock, convertible notes and certain
warrants to purchase capital stock of Redpoint shall be converted into shares
of the Company’s Common Stock in accordance with the DGCL on the terms and
conditions as set forth in the Merger Agreement;

WHEREAS, as a condition to the consummation of the Merger,  Redpoint is conducting an offering (the “Offering”),
in which National Securities Corporation and Brean Murray, Carret &
Co. are acting as exclusive co-placement agents (the “Placement Agents”), exempt from the registration requirements of
the Securities Act (as defined below), pursuant to Regulation D promulgated
thereunder, of a minimum offering amount of 8,888,889 units (“Units”)
and a maximum offering amount of 12,444,444 Units, each Unit consisting of one
share of common stock of the Company (“Unit Share”), and a three-year
warrant (“Unit Warrant”) to buy 25% of the number of shares of common
stock of the Company purchased with a cash exercise price of $3.75 per share,
with a 30-day option granted to Placement Agents to sell up to an additional
2,222,222 Units at the same price per Unit, upon the terms and subject to the
conditions described in the Confidential Private Placement Memorandum of
Redpoint, as supplemented by Supplement No. 1 dated February 21, 2007,
which Units, pursuant to the terms of the Merger Agreement, the Company shall
agree to issue in the event of consummation of the Merger;

WHEREAS,
the Existing Stockholders hold securities of Redpoint with certain registration
rights with respect to their shares of capital stock of Redpoint in accordance
with that certain Investor Rights Agreement dated as of November 10, 2003, by
and among Redpoint and the Existing Stockholders (the “IRA”);

WHEREAS,
pursuant to the terms of the Merger, the shares of capital stock and certain
other securities of Redpoint held by the Existing Stockholders will be canceled
and converted into shares of Common Stock of the Company;

 

WHEREAS,
in connection with the Merger, the parties desire that the IRA be terminated in
its entirety;

WHEREAS,
in order to induce the Existing Stockholders to approve the Merger and to
terminate the IRA, the Company desires to grant the Existing Stockholders
certain registration rights with respect to the shares of Common Stock of the
Company that such Existing Stockholders shall receive upon cancellation and conversion
of their securities of Redpoint pursuant to the Merger Agreement (such shares
of the Company issued to the Existing Stockholders pursuant to the Merger
Agreement, the “Merger Shares”);

WHEREAS,
it is currently contemplated that at some time after consummation of the
Merger, the Company will merge with and into its then wholly-owned subsidiary,
Redpoint, and that at such time the Existing Stockholders shall receive shares
of common stock of Redpoint in exchange for any shares of Common Stock of the Company
then held by them (the “Reorganization Merger”); and

WHEREAS,
the Company and the Existing Stockholders intend that the registration rights
provided to the Existing Stockholders pursuant to this Agreement shall survive
such Reorganization Merger and shall thereafter apply to the shares of common
stock of Redpoint received by the Existing Stockholders pursuant to the
Reorganization Merger;

NOW,
THEREFORE, in consideration of the
foregoing recitals and the mutual promises, representations, warranties, covenants
and conditions contained in this Agreement and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto, intending to be legally bound, agree as follows:

ARTICLE 1

GENERAL

1.1           Certain Definitions.  As used in this Agreement the following terms
shall have the following meanings:

“Affiliate”
has the meaning ascribed to it under Rule 12b-2 promulgated under the Exchange
Act.

“Common Stock”
means the Company’s authorized common stock with no par value.

“Demand Holders”
means any Existing Stockholder listed on Exhibit A hereto owning of
record Registrable Securities, or any transferee or assignee thereof owning of
record Registrable Securities with respect to which the transferor’s rights
under Article 2 of this Agreement are assigned in accordance with Section 2.8
hereof.

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, or any successor Federal
statute in effect, and the rules and regulations of the SEC promulgated thereunder,
all as the same may from time to time be in effect.

 

 2
 

 

“Form S-3”
means such form promulgated under the Securities Act as in effect on the date
hereof or any successor registration form under the Securities Act subsequently
adopted by the SEC which permits inclusion or incorporation of substantial
information by reference to other documents filed by the Company with the SEC.

“Holder” means
any Demand Holder or any Non-Demand Holder.

“Non-Demand
Holders” means any Existing Stockholder listed on Exhibit B hereto
owning of record Registrable Securities, or any transferee or assignee
thereof owning of record Registrable Securities with respect to which the
transferor’s rights under Article 2 of this Agreement are assigned in
accordance with Section 2.8 hereof.

“Offering Shares” means (i) the Unit Shares issued pursuant to the
Offering, and (ii) the shares of Common Stock underlying the Unit Warrants issued pursuant to the Offering.

“Other Shares” means at any time those shares of Common Stock
which do not constitute Primary Shares, Offering Shares or Registrable
Securities.

“Person”
shall be construed in the broadest sense and means and includes 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 and any federal, state, municipal, foreign or
other government, governmental department, commission, board, bureau, agency or
instrumentality, or any private or public court or tribunal.

“Primary Shares”
means, at any time, the authorized but unissued shares of Common Stock or
Common Stock held by the Company in its treasury.

“Prospectus”
means the prospectus included in any Registration Statement, all amendments and
supplements to such prospectus and all material incorporated by reference in
such prospectus.

“Register,”
“registered,” and “registration” refer to a registration effected
by preparing and filing a registration statement in compliance with the
Securities Act, and the declaration or ordering of effectiveness of such
registration statement or document.

“Registrable
Securities” means (i) the Merger Shares, (ii) any other shares of Common
Stock of the Company held by the Existing Stockholders or any transferee or assignee
thereof, (iii) any securities issued in exchange for or upon conversion of such
Registrable Securities as a result of the Reorganization Merger or any other
reorganization, recapitalization, or reclassification (including by
consolidation or merger), and (iv) any securities issued as (or issuable upon
the conversion or exercise of any warrant, right, or other security that is
issued as) a dividend or other distribution with respect to, or in exchange for
or in replacement of (including as a result of any stock combination or reverse
stock split), any of the foregoing securities referenced in clauses (i), (ii)
and (iii).  Notwithstanding the
foregoing, Registrable Securities shall not include any securities sold by a
Person to the public pursuant to a registration statement which has been
declared effective, or Rule 144 or sold in a private transaction in which the
transferor’s rights under Article 2 of this Agreement are not assigned, in each
case where the restrictive legends and transfer registrations with respect to
the Common Stock are removed and

 

 3
 

 

the Common Stock in the hands of the purchaser is
freely transferable without any restriction or registration under the
Securities Act in any public or private transaction.

“Registrable
Securities then outstanding” means the number of shares determined by
calculating the total number of shares of Common Stock that are Registrable
Securities and either (a) are then issued and outstanding or (b) are issuable
pursuant to then exercisable or convertible securities.

“Registration
Expenses” mean all expenses incurred by the Company in complying with
Sections 2.1, 2.2 and 2.3 hereof, including, without limitation, all
registration and filing fees (including all expenses incident to listing the
Registrable Securities on a national securities exchange), printing expenses,
fees and disbursements of counsel for the Company, reasonable fees and
disbursements of the Stockholders’ Counsel (as defined in Section 2.5(i))
(which shall not exceed $35,000), blue sky fees and expenses and the expense of
any special audits incident to or required by any such registration (but
excluding the compensation of regular employees of the Company which shall be
paid in any event by the Company).

“Registration
Statement” means any registration statement of the Company filed with, or
to be filed with, the SEC under the Securities Act, including the Prospectus,
amendments, supplements and post-effective amendments to such registration
statement, and all exhibits and all material incorporated by reference in such
registration statement, except (i) a registration statement on Form S-4 or S-8
or any successor form to such forms, (ii) a registration of securities solely
relating to an offering and sale to employees, managers or consultants of the
Company pursuant to any employee stock plan or other employee benefit plan
arrangement or (iii) a registration of non-convertible debt securities.

“Rule 144”
means Rule 144 promulgated under the Securities Act or any successor rule
thereto.

“SEC” or “Commission”
means the Securities and Exchange Commission.

“Securities Act”
means the Securities Act of 1933, as amended or any successor Federal statute
and the rules and regulations of the Commission promulgated thereunder, all as
the same may be in effect from time to time.

“Selling Expenses”
mean all underwriting discounts and selling commissions applicable to the sale.

ARTICLE 2

REGISTRATION

2.1           Demand
Registration.

(a)           Subject to the conditions of this
Section 2.1, if the Company receives a request from the Demand Holders holding
at least twenty five percent (25%) of the Registrable Securities then
outstanding held by all Demand Holders (the “Initiating Holders”) that
the Company register Registrable Securities with an aggregate offering price of
at least $5,000,000, then the Company shall, within fifteen (15) days after the
receipt thereof, give written notice of

 

 4
 

 

such request to all other Demand Holders (the “Non-Initiating
Holders”).  A Non-Initiating Holder
must notify the Company within thirty (30) days of receipt of such written
notice if such Non-Initiating Holder so desires to have its Registrable
Securities registered.  The Company will
use its best efforts to effect, as soon as practicable, the registration of all
Registrable Securities that the Demand Holders request to be registered.

(b)           If the Initiating Holders intend to
distribute the Registrable Securities by means of an underwriting, they shall
so advise the Company as a part of their demand pursuant to this Section 2.1
and the Company shall include such information in the notice referred to in
Section 2.1(a).  In such event, the right
of any Demand Holder to include its Registrable Securities in such registration
shall be conditioned upon participation in such underwriting.  The underwriter or underwriters for such
offering shall be a nationally recognized underwriter or underwriters selected
by the Demand Holders owning a majority of the Registrable Securities requested
to be included in such offering and reasonably acceptable to the Company and
such underwriter or underwriters shall enter into a reasonable and customary
underwriting agreement with the Company. 
Notwithstanding any other provision of this Section 2.1, if the
underwriter advises the Company that marketing factors require a limitation of
the number of securities to be underwritten (including Registrable Securities)
then the Company shall so advise all participating Demand Holders, and the
number of shares that may be included in the underwriting and registration
shall be allocated pro rata among the participating Demand Holders in
accordance with the number of Registrable Securities held by such Demand
Holders; provided, however, that the number of shares of Registrable Securities
to be included in such underwriting and registration shall not be reduced
unless and until all other securities to be sold by the Company and any Persons
that are not Demand Holders are first entirely excluded from the underwriting
and registration.

(c)           The Company shall not be required to
effect a registration pursuant to this Section 2.1:

(i)            prior to the registration under the
Securities Act pursuant to an effective registration statement of the Offering
Shares;

(ii)           after the Company has effected two
registrations pursuant to this Section 2.1, and such registrations have been
declared or ordered effective and maintained effective for (A) one hundred
twenty (120) days beyond the effective date or (B) until all shares so
registered have been sold, whichever period is longer (provided, however,  that such two registrations shall not include
any registration pursuant to this Section 2.1 in which the number of
Registrable Securities registered is reduced by more than twenty percent (20%)
of the number of Registrable Securities that the Demand Holders requested to be
registered);

(iii)          during the period starting with the
date of filing of, and ending on the date six months following the effective
date of, a registration statement pertaining to any underwritten public
offering made pursuant to this Section 2.1 or in which the Demand Holders were
given the opportunity to participate pursuant to Section 2.2 for not less than
thirty percent (30%) of the amount of the offering; provided that each
registration statement was declared or ordered effective and maintained
effective for (A) one hundred twenty (120) days beyond the effective date or
(B) until all shares so registered have been sold, whichever period is longer;

 

 5
 

 

(iv)          if within ten (10) days of receipt of
a written request from the Initiating Holders pursuant to Section 2.1(a) the
Company shall furnish to the Initiating Holders a certificate signed by the
Chief Executive Officer or the Chief Financial Officer of the Company stating
that in the good faith judgment of the Board of Directors, it would be seriously
detrimental to the Company and its stockholders for such registration statement
to be effected at such time, the Company shall have the right to defer such
filing for a period of not more than sixty (60) days after receipt of the
request of the Initiating Holders; provided, that, such right to delay a
request shall be exercised by the Company not more than twice in any twelve
(12) month period; provided, further, that the Company shall not disclose any
information that could be deemed material non-public information of the Company
to any of the Initiating Holders during such delayed period; and

(v)           if the Initiating Holders propose to
dispose of shares of Registrable Securities that may be immediately registered
on Form S-3 pursuant to a request made pursuant to Section 2.3 below.

(d)           A requested registration under this
Section 2.1 may be rescinded prior to such registration being declared
effective by the Commission by written notice to the Company from the
Initiating Holders; provided, however, that such rescinded registration shall
not count as a registration initiated pursuant to this Section 2.1 if the
Company shall have been reimbursed (pro rata by the Initiating Holders or in
such other proportion as they may agree) for all out-of-pocket expenses incurred
by the Company in connection with such rescinded registration; provided
further, however, that such Initiating Holders shall not be required to
reimburse the Company if such rescission shall have been caused by, or made in
response to, the material adverse effect of an event on the business,
prospects, properties, condition (financial or otherwise) or operations of the
Company.

2.2           Piggyback Registrations.  If the Company at any time proposes for any
reason to register Primary Shares or Other Shares under the Securities Act
(other than a registration on Form S-4 or Form S-8 promulgated under the
Securities Act or any successor forms thereto), the Company shall notify all
Holders at least thirty (30) days prior to the filing of any registration
statement and will afford each Holder an opportunity to include in such
registration statement all or part of the Registrable Securities held by such
Holder on the same terms and conditions as the other shares participating in
the underwriting.  Each Holder desiring
to include Registrable Securities in any such registration statement shall
notify the Company within twenty (20) days after delivery of the notice from
the Company.  Such notice shall state the
intended method of disposition of the Registrable Securities by such
Holder.  If a Holder decides not to
include all of its Registrable Securities in any registration statement filed
by the Company, such Holder shall nevertheless continue to have the right to
include any Registrable Securities in any subsequent registration statement or
registration statements as may be filed by the Company, all upon the terms and
conditions set forth herein.

(a)           Underwriting.  If the registration statement under which the
Company gives notice under this Section 2.2 is for an underwritten offering,
the Company shall so advise the Holders. 
In such event, the right of any Holder to be included in a registration
pursuant to this Section 2.2 shall be conditioned upon the Holder’s
participation in the underwriting. 
Notwithstanding any other provision of the Agreement, if the underwriter
determines in good

 

 6
 

 

faith that marketing factors require a limitation of
the number of shares to be underwritten, the number of shares that may be
included in the underwriting shall be allocated as follows, first, the Primary
Shares being registered by the Company, second, the Registrable Securities held
by the Demand Holders (the “Non-Excluded Registrable
Securities”) requested to be included in such registration by such
Demand Holders pro rata, based on the total number of Non-Excluded Registrable
Securities held by such Demand Holders, third, shares held by the Non-Demand
Holders, to the extent such shares are Registrable Securities, requested to be
included in such registration by such Non-Demand Holders, pro rata, based on
the total number of shares of Common Stock held by such Non-Demand Holders, to
the extent such shares are Registrable Securities, and fourth, the Other Shares
requested to be registered by any other stockholder of the Company on a pro
rata basis based on the total number of shares held by such Persons.  No such reduction shall reduce the amount of
securities of the selling Holders included in the registration below thirty
percent (30%) of the total amount of securities included in such registration.

(b)           Right to Terminate Registration.  The Company shall have the right to terminate
or withdraw any registration initiated by it under this Section 2.2 prior to
the effectiveness of such registration whether or not any Holder has elected to
include securities in such registration. 
The Registration Expenses of such withdrawn registration shall be borne
by the Company in accordance with Section 2.4 hereof.

(c)           Inclusion of other Stockholders.  No stockholder of the Company who is not a
Holder shall be granted piggyback registration rights that would reduce the
number of shares that could be included under this Section 2.2 by the Holders
without the consent of Holders owning at least two-thirds (2/3) of the
Registrable Securities then outstanding.

2.3           Form S-3 Registration.

(a)           If the Company shall receive from any
Demand Holder or Demand Holders a request that the Company effect a
registration on Form S-3  or any similar short-form registration statement
with respect to all or a part of the Registrable Securities held by the Demand
Holders, the Company shall:

(i)            promptly give notice of the proposed
registration, and any related qualification or compliance, to all other Demand
Holders and shall offer to include in such proposed registration any
Registrable Securities requested to be included in such proposed registration
by such other Demand Holders who respond in writing to the Company’s notice
within thirty (30) days after delivery of such notice (which response shall
specify the number of Registrable Securities proposed to be included in such
registration); and

(ii)           promptly effect such registration and
all such qualifications and compliances as would permit or facilitate the sale
and distribution of the Registrable Securities specified in such request,
together with the Registrable Securities of any other Demand Holder or Demand
Holders joining in such request by notice to the Company given within thirty
(30) days after receipt of such notice from the Company.

 7

 

(b)           Notwithstanding anything to the
contrary contained herein, the Company shall not be obligated to effect any
registration, qualification or compliance pursuant to this Section 2.3:

 

(i)            if Form S-3 is not available for
such offering by the Demand Holders;

 

(ii)           if the Demand Holders, 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 an aggregate price to the public of less than
$1,000,000; or

 

(iii)          if the Company has, within the twelve
(12) month period preceding the date of such request, already effected two (2)
registrations on Form S-3 for the Demand Holders pursuant to this Section 2.3.

 

(c)           Registrations effected pursuant to
this Section 2.3 shall not be counted as demands for registration or
registrations effected pursuant to Section 2.1. 
If the initiating Holders intend to distribute Registrable Securities
pursuant to an underwriting, they shall so advise the Company in the demand
pursuant to Section 2.1(a).

 

(d)           The Company will use commercially
reasonable efforts to meet the qualification standards for the registration of
securities on Form S-3.

 

2.4           Expenses of Registration.  Except as specifically provided herein, all
Registration Expenses incurred in connection with any registration under
Section 2.1, Section 2.2 or Section 2.3 herein shall be borne by the
Company.  All Selling Expenses incurred
in connection with any registrations hereunder shall be borne by the Persons
selling the securities in proportion to the number of securities sold by such
seller or sellers.

 

2.5           Obligations of the Company.  Whenever required to register any Registrable
Securities, the Company shall, as expeditiously as reasonably possible:

 

(a)           Use reasonable best efforts to
prepare and file with the SEC a registration statement with respect to such
Registrable Securities and to cause such registration statement to become
effective, and, upon the request of the selling Holders of a majority of the
Registrable Securities registered thereunder, keep such registration statement
effective for up to one hundred and twenty (120) days for a registration
pursuant to Section 2.1 and for up to two hundred and seventy (270) days for a
registration pursuant to Section 2.3 or, if earlier, until the Holder or
Holders have completed the distribution related thereto;

 

(b)           Use its reasonable best efforts to
prepare and file with the SEC such amendments and supplements to such
registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by
such registration statement for the applicable period set forth in paragraph
(a) above and to cause such amendments and supplements to become and remain
effective;

 

 8
 

 

(c)           Furnish to the
Holders of the Registrable Securities being sold and each underwriter such
number of copies of a prospectus, including a preliminary prospectus, in
conformity with the requirements of the Securities Act, and such other
documents as they may reasonably request in order to facilitate the disposition
of Registrable Securities;

(d)           Use its best
efforts to register and qualify the securities covered by such registration
statement under such other securities or Blue Sky laws of such jurisdictions as
shall be reasonably requested by the Holders of the Registrable Securities
being sold and register such securities
with or obtain the approval of such other governmental authorities as may be
necessary by virtue of the business and operations of the Company to enable the
seller or sellers thereof to consummate the disposition of such Registrable
Securities; provided, that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to
file a general consent to service of process in any such states or
jurisdictions where it would not otherwise
be required so to do but for this subparagraph;

(e)           In the event of any underwritten
public offering, enter into and perform its obligations under an underwriting
agreement, in usual and customary form, with the managing underwriter(s) of
such offering;

(f)            Notify on a timely basis each Holder of Registrable Securities covered by
such registration statement at any time when a prospectus relating thereto
required to be delivered under the Securities Act of the happening of any event
as a result of which the prospectus included in such registration statement, as
then in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances then
existing and promptly file such amendments and supplements as may be necessary
so that, as thereafter delivered to such Holders, such prospectus shall not
include an untrue statement of material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading and use
its best efforts to cause each such amendment and supplement to become and
remain effective;

(g)           Use its best efforts to furnish, on
the date that such Registrable Securities are delivered to the underwriters for
sale, if such securities are being sold through underwriters, (i) an opinion,
dated as of such date, of the counsel representing the Company for the purposes
of such registration, in form and substance as is customarily given to
underwriters in an underwritten public offering, addressed to the underwriters,
if any, and (ii) a letter dated as of such date, from the independent certified
public accountants of the Company, in form and substance as is customarily
given by independent certified public accountants to underwriters in an
underwritten public offering addressed to the underwriters;

(h)           Make available for inspection by the
Holders of the Registrable Securities being sold, any underwriter participating
in any disposition pursuant to such registration statement and any attorney,
accountant or other agent retained by any such Holder or underwriter
(collectively, the “Inspectors”), all pertinent financial, business and
other records, pertinent corporate documents and properties of the Company
(collectively, the “Records”), as shall be reasonably necessary to
enable them to exercise their due diligence responsibility, and cause the
Company’s officers, directors and employees to supply all information (together
with the 

 

 9
 

 

Records, the “Information”)
reasonably requested by any such Inspector in connection with such Registration
Statement (and any of the Information which the Company determines in good
faith to be confidential, and of which determination the Inspectors are so
notified, shall not be disclosed by the Inspectors unless (A) the disclosure of
such Information is necessary to avoid or correct a misstatement or omission in
the registration statement, (B) the release of such Information is ordered
pursuant to a subpoena or other order from a court of competent jurisdiction,
(C) such Information has been made generally available to the public, and (D)
the seller of Registrable Securities agrees that it will, upon learning that
disclosure of such Information is sought in a court of competent jurisdiction,
give notice to the Company and allow the Company, at the Company’s expense, to
undertake appropriate action to prevent disclosure of the Information deemed
confidential);

(i)            At least five business
days before filing any registration statement that registers such Registrable
Securities, a prospectus relating thereto and any amendments or supplements
relating to such registration statement or prospectus, furnish to a
single counsel (the “Stockholders’
Counsel”) designated by the holders of a majority of the Registrable
Securities being sold, copies of all such
documents proposed to be filed, which shall be subject to reasonable
approval of the Stockholders’ Counsel (it
being understood that such five-business-day period need not apply to
successive drafts of the same document proposed to be filed so long as such
successive drafts are supplied to such counsel in advance of the proposed
filing by a period of time that is customary and reasonable under the
circumstances);

(j)            Notify the
Stockholders’ Counsel promptly in writing (i) of any comments by the Commission
with respect to such registration statement or prospectus or any amendment or
supplement thereto, or any request by the Commission for the amending or
supplementing thereof or for additional information with respect thereto, (ii)
of the issuance by the Commission of any stop order suspending the
effectiveness of such registration statement or prospectus or any amendment or
supplement thereto or the initiation of any proceedings for that purpose and
(iii) of the receipt by the Company of any notification with respect to the
suspension of the qualification of such Registrable Securities for sale in any
jurisdiction or the initiation or threatening of any proceeding for such
purposes;

(k)           Appoint a transfer agent and
registrar (which may be the same entity and which may be the Company) no later
than the first registration of any such Registrable Securities;

(l)            Cause such Registrable Securities to
be listed on any national securities exchange on which similar securities of
the Company are listed or, if similar securities of the Company are not listed
on a national securities exchange, use its best efforts to qualify such
Registrable Securities for inclusion on the automated quotation system of the
National Association of Securities Dealers, Inc., NASDAQ Global Market, or such
other national securities exchange; and

(m)          Otherwise use reasonable best efforts
to comply with all applicable rules and regulations of the Commission, and make
available to its stockholders, as soon as reasonably practicable, earnings
statements which need not be audited covering a period of twelve (12) 

 

 10
 

 

months beginning within
three months after the effective date of the registration statement, which
earnings statements shall satisfy the provisions of Section 11(a) of the
Securities Act.

2.6               Furnishing Information.  It shall be a condition precedent to the
obligations of the Company to take any action pursuant to Sections 2.1, 2.2 or
2.3 that the selling Holders shall furnish to the Company such information
regarding themselves, the Registrable Securities held by them and the intended
method of disposition of such securities as shall be reasonably required to
effect the registration of their Registrable Securities.

2.7               Indemnification.  In the event any Registrable Securities are
included in a registration statement under Sections 2.1, 2.2 or 2.3:

(a)           To the extent permitted by law, the
Company will indemnify and hold harmless each Holder and the partners,
officers, directors, stockholders, employees and agents of each Holder, any
underwriter (as defined in the Securities Act) for such Holder and each Person,
if any, who controls such Holder or underwriter within the meaning of the
Securities Act or the Exchange Act, against any losses, claims, damages, or
liabilities (joint or several) to which they may become subject under the
Securities Act, the Exchange Act or other federal or state law, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise
out of or are based upon any of the following statements, omissions or
violations (collectively a “Violation”) by the Company: (i) any untrue
statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final
prospectus contained therein or any amendments or supplements thereto, or any
document incident to the registration or qualification of any Registrable
Securities, (ii) 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, or (iii) any violation or alleged violation of the Securities
Act, the Exchange Act, any state securities law or any rule or regulation
promulgated under the Securities Act, the Exchange Act or any state securities
law in connection with the offering covered by such registration statement; and
the Company will pay as incurred to each such Holder, partner, officer,
director, stockholder, employee, agent, underwriter or controlling Person for
any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action;
provided, however, that the indemnity agreement contained in this Section
2.7(a) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability or action if such settlement is effected without the consent
of the Company, which consent shall not be unreasonably withheld, nor shall the
Company be liable in any such case for any such loss, claim, damage, liability
or action to the extent that it arises out of or is based upon a Violation
which occurs in reliance upon and in conformity with written information
furnished expressly for use in connection with such registration by such
Holder, partner, officer, employee, agent, director, stockholder, underwriter
or controlling Person of such Holder.

(b)           To the extent permitted by law, each
Holder will (severally and not jointly), if Registrable Securities held by such
Holder are included in the securities as to which such registration,
qualification or compliance is being effected, indemnify and hold harmless the
Company, each of its directors, officers, employees, agents and each Person, if
any, who controls the Company within the meaning of the Securities Act, any
underwriter and any other Holder selling securities under such registration
statement or any of such other Holder’s partners, 

 

 11
 

 

directors, officers or
stockholders or any Person who controls such Holder, against any losses,
claims, damages or liabilities to which the Company or any such Person may
become subject under the Securities Act, the Exchange Act or other federal or
state law, insofar as such losses, claims, damages or liabilities (or actions
in respect thereto) arise out of and to the extent that they are based upon any
untrue statement or alleged untrue statement of material fact contained in
written information furnished by such Holder under an instrument duly executed
by such Holder and stated to be specifically for use in connection with such
registration, or the omission or alleged omission to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading (a “Holder Violation”); and each such Holder will pay as
incurred any legal or other expenses reasonably incurred by the Company or any
such Person in connection with investigating or defending any such loss, claim,
damage, liability or action if it is judicially determined that there was such
a Holder Violation; provided, however, that
the indemnity agreement contained in this Section 2.7(b) shall not apply
to amounts paid in settlement of any such loss, claim, damage, liability or
action if such settlement is effected without the consent of the Holder, which
consent shall not be unreasonably withheld; provided further, that in no event
shall any indemnity under this Section 2.7(b) exceed the net proceeds from the
offering received by such Holder.

(c)           Promptly after receipt by an
indemnified party under this Section 2.7 of notice of the commencement of any
action (including any governmental action), such indemnified party will, if a
claim in respect thereof is to be made against any indemnifying party under
this Section 2.7, deliver to the indemnifying party a written notice of
the commencement thereof and generally summarize such action and the
indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party
similarly noticed, to assume the defense thereof with counsel mutually
satisfactory to the parties; and after notice from the indemnifying party to
such indemnified party of its election so to assume the defense thereof, the
indemnifying party shall not be responsible for any legal or other expenses
subsequently incurred by the indemnified party in connection with the defense
thereof.  The failure to deliver written
notice to the indemnifying party within a reasonable time of the commencement
of any such action, if materially prejudicial to its ability to defend such
action, shall relieve such indemnifying party of any liability to the
indemnified party under this Section 2.7, but the omission so to deliver
written notice to the indemnifying party will not relieve it of any liability
that it may have to any indemnified party otherwise than under this Section
2.7.  Notwithstanding the foregoing,  if any indemnified party shall have
reasonably concluded that there may be one or more legal or equitable defenses
available to such indemnified party which are in addition to or conflict with
those available to the indemnifying party, or that such claim or litigation
involves or could have an effect upon matters beyond the scope of the indemnity
provided in this Section 2.7, the indemnifying party shall not have the right
to assume the defense of such action on behalf of such indemnified party and
such indemnifying party shall reimburse such indemnified party and any Person
controlling such indemnified party for that portion of the fees and expenses of
any one lead counsel (plus appropriate special and local counsel) retained by
the indemnified party which are reasonably related to the matters covered by the
indemnity agreement provided in this Section 2.7.

(d)           If the indemnification provided for
in this Section 2.7 is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any losses, claims, damages
or liabilities referred to herein, the indemnifying party, in lieu of
indemnifying 

 

 12
 

 

such indemnified party
thereunder, shall to the extent permitted by applicable law contribute to the
amount paid or payable by such indemnified party as a result of such loss,
claim, damage or liability in such proportion as is appropriate to reflect the
relative fault of the indemnifying party on the one hand and of the indemnified
party on the other in connection with the Violation or Holder Violation, as the
case may be, that resulted in such loss, claim, damage or liability, as well as
any other relevant equitable considerations. 
The relative fault of the indemnifying party and of the indemnified
party shall be determined by a court of law by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or
the omission to state a material fact relates to information supplied by the
indemnifying party or by the indemnified party and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission; provided, that in no event shall the maximum
liability in respect of any contribution by a Holder pursuant to this Section
2.7(d) exceed the net proceeds from the offering received by such Holder.  No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall
be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation.

(e)           The obligations of the Company and
Holders under this Section 2.7 shall survive the transfer of any Registrable
Securities or the completion of any offering of Registrable Securities in a
registration statement and the termination of this Agreement.  No indemnifying party, in the defense of any
such claim or litigation, shall, except with the consent of each indemnified
party, consent to entry of any judgment or enter into any settlement which does
not include as an unconditional term thereof the giving by the claimant or
plaintiff to such indemnified party of a release from all liability in respect
to such claim or litigation.

2.8               Assignment of Registration
Rights.  The right to cause the
Company to register Registrable Securities pursuant to this Article 2 may
be assigned by a Holder to a transferee or assignee of Registrable Securities
which (a) is a subsidiary, parent, general partner, limited partner, retired
partner, member, retired member or Affiliate of a Holder, (b) is a Holder’s
spouse or lineal descendant or is a trust for the benefit of an individual
Holder or his or her spouse or lineal descendant or (c) acquires at least fifty
thousand (50,000) shares of the Registrable Securities (subject to appropriate
adjustment for stock splits, stock dividends, combinations and similar events),
provided,  that (i) the transferor shall,
within twenty (20) days after such transfer, furnish to the Company written
notice of the name and address of such transferee or assignee and the
securities with respect to which such registration rights are being assigned
and (ii) such transferee shall agree to be subject to all restrictions set
forth in this Agreement as evidenced by such transferee’s execution and
delivery of an appropriate counterpart signature page or joinder hereto.

2.9               Rule 144 Reporting.  With a view to making available to the Holders
the benefits of certain rules and regulations of the SEC which may permit the
sale of the Registrable Securities to the public without registration, the
Company agrees to use its best efforts to:

(a)           Make and keep public information
available, as those terms are understood and defined in SEC Rule 144 or any
similar or analogous rule promulgated under the Securities Act, at all times
after the effective date of the first registration filed by the Company for an
offering of its securities to the general public;

 

 13
 

 

(b)           File with the SEC, in a timely
manner, all reports and other documents required of the Company under the
Exchange Act; and

(c)           So long as a Holder owns any
Registrable Securities, furnish to such Holder forthwith upon request: a
written statement by the Company as to its compliance with the reporting
requirements of said Rule 144 of the Securities Act, and of the Exchange Act
(at any time after it has become subject to such reporting requirements); a
copy of the most recent annual or quarterly report of the Company; and such
other reports and documents as a Holder may reasonably request in availing
itself of any rule or regulation of the SEC allowing it to sell any such
securities without registration.

2.10             Termination of Registration
Rights.  No Holder shall be entitled
to exercise any right provided for in this Article 2 after such time as all such Holder’s Registrable Securities may actually
be sold in a single sale without being subject to any volume limitations
pursuant to Rule 144.

ARTICLE 3

MISCELLANEOUS

3.1               Governing Law.  This Agreement shall be governed by and
construed under the laws of the State of Delaware, without applying conflicts
of law principles.

3.2               Successors and Assigns.
This Agreement shall be binding upon, and inure to the benefit of, the parties
hereto and their respective permitted successors, assigns, heirs, executors and
administrators, including any successor or assignee of the Company by operation
of law or otherwise.  In the event of
consummation of the Reorganization Merger or any other reorganization,
recapitalization, or reclassification (including by consolidation or merger)
transaction in which the shares of Common Stock held by the Holders are
exchanged are converted for securities of another entity, the Company shall
ensure that this Agreement shall apply with respect to such securities as if
they were shares of Common Stock hereunder and that the terms of this Agreement
shall be binding upon the issuer thereof as if the Company hereunder.  This Agreement is not intended to create any
third party beneficiaries.

3.3               Entire Agreement.  This Agreement and the other documents
delivered pursuant hereto embodies the entire agreement and understanding
between the parties hereto with respect to the understanding and agreement
between the parties with regard to the subjects hereof and supersedes all prior
agreements and understandings relating to such subject matter.

3.4               Severability.  It is the desire and intent of the parties hereto
that the provisions of this Agreement be enforced to the fullest extent
permissible under the laws and public policies applied in each jurisdiction in
which enforcement is sought. 
Accordingly, in case any provision of the Agreement shall be adjudicated
by a court of competent jurisdiction to be invalid, illegal, or unenforceable,
such provision, as to such jurisdiction, shall be ineffective, without
affecting the validity, legality, and enforceability of the remaining
provisions of this Agreement or affecting the validity or enforceability of
such provision in any other jurisdiction.

3.5               Amendment and Waiver.  Any provision of this Agreement may be
amended and the observance thereof may be waived (either generally or in a
particular instance and either 

 

 14
 

 

retroactively or
prospectively), only with the written consent of the Company and the Holders of
two-thirds (2/3) of the Registrable Securities then outstanding; provided,
however, that any such amendment,
modification, or waiver that would adversely affect the rights hereunder of a
Demand Holder, in its capacity as a Demand Holder, without similarly affecting
the rights hereunder of all Demand Holders of such class, in their capacities
as Demand Holders of such class, shall not be effective as to such Demand
Holder without its prior written consent. 
Any amendment or waiver effected in accordance with this Section
3.5 shall be binding upon each Holder and the Company; and provided, further,
however, that any party may waive its rights hereunder with respect to itself
without requiring the consent of any other party.

3.6               Delays or Omissions.  It is agreed that no delay or omission to
exercise any right, power, or remedy accruing to any Holder, upon any breach,
default or noncompliance of the Company under this Agreement shall impair any
such right, power, or remedy, nor shall it be construed to be a waiver of any
such breach, default or noncompliance, or any acquiescence therein, or of any
similar breach, default or noncompliance thereafter occurring.  It is further agreed that any waiver, permit,
consent, or approval of any kind or character on any Holder’s part of any
breach, default or noncompliance under the Agreement or any waiver on such
Holder’s part of any provisions or conditions of this Agreement must be in
writing and shall be effective only to the extent specifically set forth in
such writing.  All remedies, either under
this Agreement, by law, or otherwise afforded to Holders, shall be cumulative
and not alternative.

3.7               Notices.  All notices and consents required or
permitted hereunder must be in writing and shall be deemed effectively given:
(a) upon personal delivery to the party to be notified, (b) when sent by
confirmed facsimile if sent during normal business hours of the recipient, if not,
then the next business day, (c) three business days after having been sent by
registered or certified mail, return receipt requested, postage prepaid, or (d)
one business day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt.  All communications shall be sent to the party
to be notified at the respective address of the Company set forth on the
signature pages hereof(1), of the Holders set forth on Exhibit A and Exhibit
B or at such other address as such party may designate in writing to the
other parties hereto.

3.8               Headings.  The headings of the sections, subsections,
and paragraphs of this Agreement have been added for convenience only and shall
not be deemed to be a part of this Agreement.

3.9               Counterparts.  This Agreement may be executed in any number
of counterparts, each of which shall be an original, but all of which together
shall constitute one instrument.

 

[Signature
Pages Follow]

 

 

(1)    Note:
Company address needs to be inserted on signatures pages per this provision.

 15

 

IN WITNESS WHEREOF, the parties hereto have executed this Registration
Rights Agreement as of the date first above written.

	
  

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  ROBCOR
  PROPERTIES, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Timothy P.
  Halter

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Timothy P. Halter

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
  President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INVESTORS:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  APERTURE CAPITAL, LP

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Matthew S. Tierney

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Matthew S. Tierney

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Member of AVP, the GP of AC, LP

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CARGILL, INCORPORATED

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DANISCO VENTURE A/S

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James Sayre

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
  James Sayre

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
  President, Cargill Ventures

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ Raymond Salemme

  	
   

  
	
   

  	
  Raymond Salemme

  	
   

  
											

 

 

SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT

 

 

	
  

  	
  DUKE
  UNIVERSITY SPECIAL VENTURE FUND

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
  /s/ Neal F.
  Triplett

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ David R. Shumate

  	
   

  
	
  President

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  David R. Shumate

  	
   

  
	
  Duke Management
  Co.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Executive Vice President

  	
   

  
	
  Authorized Agent

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Duke Management Company

  	
   

  
	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  E.I. DU
  PONT DE NEMOURS AND COMPANY

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  /s/ Michael A. Blaustein

  	
   

  	 

	
   

  	
   

  	
  Name:

  	
   

  	
  Michael A. Blaustein

  	
   

  	 

	
   

  	
   

  	
  Title:

  	
   

  	
  Business Director

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  NJTC VENTURE FUND SBIC, L.P.

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  /s/ Robert Chepitz

  	
   

  	 

	
   

  	
   

  	
  Name:

  	
   

  	 

	
   

  	
   

  	
  Title:

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  PRAKO INVESTMENTS & CO.

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
   

  	
   

  	 

	
   

  	
   

  	
  Name:

  	
   

  	 

	
   

  	
   

  	
  Title:

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  RK VENTURES GROUP, LLC

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  /s/ Ira Weiss

  	
   

  	 

	
   

  	
   

  	
  Name:

  	
   

  	
  Ira Weiss

  	
   

  	 

	
   

  	
   

  	
  Title:

  	
   

  	
  Managing Partner

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  S.R. ONE, LIMITED

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  Kent Gossett

  	
   

  	 

	
   

  	
   

  	
  Name:

  	
   

  	
  Kent Gossett

  	
   

  	 

	
   

  	
   

  	
  Title:

  	
   

  	
  General Partner

  	
   

  	 

																			

 

SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT

 

 

	
  

  	
  /s/ Stephen J.P. Baumgartner

  	
   

  
	
   

  	
  Stephen J.P. Baumgartner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Neil S. Hillsberg

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Meryl Hillsberg

  	
   

  
	
   

  	
  Meryl Hillsberg

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Richard Luftkin

  	
   

  
	
   

  	
  Richard Luftkin

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Graeme Luftkin

  	
   

  
	
   

  	
  Graeme Luftkin

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Alan Luftkin

  	
   

  
	
   

  	
  Alan Luftkin

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Ralph Luftkin

  	
   

  
	
   

  	
  Ralph Luftkin

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Robert Margolskee

  	
   

  
	
   

  	
  Robert Margolskee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ D. Scott Linthicum

  	
   

  
	
   

  	
  D. Scott Linthicum

  	
   

  

 

 

SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT

 

 

	
  

  	
  GIVAUDAN
  FLAVORS CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Justin M. Margolskee, custodian

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Nanda Beatini

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Lenore Snyder

  	
   

  
	
   

  	
  Lenore Snyder

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Richard McGregor

  	
   

  
	
   

  	
  Richard McGregor

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Stephen Gravina

  	
   

  
	
   

  	
  Stephen Gravina

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Shawn M. Marcell

  	
   

  
	
   

  	
  Shawn M. Marcell

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Harvey D. Homan

  	
   

  
	
   

  	
  Harvey D. Homan

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MOUNT
  SINAI SCHOOL OF MEDICINE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dennis S. Charney

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Dennis S. Charney

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Dean, Mount Sinai School

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  of Medicine

  	
   

  

 

SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT

 

 

	
  

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ John Chabla

  	
   

  
	
   

  	
  John Chabla

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Matthew Homan

  	
   

  
	
   

  	
  Matthew Homan

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Michael Homan

  	
   

  
	
   

  	
  Michael Homan

  	
   

  

 

 

 

SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT

 

EXHIBIT A

	
  Name and Address

  	
   

  	
   

  
	
  NJTC Venture Fund SBIC,
  L.P.

  1001 Briggs Road, Suite 280

  Mt. Laurel, NJ 08054 

  Facsimile: 856-273-6800

  Attention: Robert Chefitz

  
	
  Cargill, Incorporated

  15407 McGinty Road West

  Wayzata, MN 55391-2399

  Facsimile: 952-742-2992

  Attention: Senior Attorney—Cargill Ventures

  
	
  Danisco Venture A/S
  (Dansico A/S)

  langebrogade 1, PO Box 17

  DK-1001 Copenhagen K

  Facsimile: +45 32 66 21 59

  Attention: Leif Kjargaard

  
	
  E. I. du Pont de
  Nemours and Company

  Chestnut Run Plaza 708

  PO Box 80708

  Wilmington, DE 19880-0708

  Facsimile: 302-999-4083

  Attention: Nancy Kim

  
	
  Aperture Capital, LP

  
	
  500 Park Avenue

  
	
  Suite 510

  
	
  New York, NY 10022

  
	
  Facsimile:

  
	
  Attention: Matthew S.
  Tierney

  
	
   

  
	
  Stephen J.P. Baumgartner

  Executive Director

  Pendle Hill

  338 Plush Mill Road

  Wallingford, PA 19086-6023

  

	
  Name and Address

  	
   

  	
   

  
	
  Duke University Specialty Venture Fund, Inc.

  2200 West Main Street

  Suite 1000

  Durham, NC 27705

  Facsimile:

  Attention: Greg Hudgins

   

  	 

	
  Neil S. and Meryl Hillsberg

  [Intentionally omitted]

   

  	 

	
  Prako Investments & Co.

  72 Sullivan Drive

  West Orange, NJ 07052-2263

  Facsimile:

  Attention: Ronnie Selbst

   

  	 

	
  Raymond Salemme

  [Intentionally omitted]

   

  	 

	
  Richard Lufkin

  [Intentionally omitted]

   

  	 

	
  RK Ventures Group, LLC

  Columbia Business SchoolUris Hall

  3022 Broadway

  New York, NY 10027

  Facsimile:

  Attention: Matthew Rhodes-Kropf

   

  	 

	
  S.R. One, Limited

  Four Tower Bridge

  200 Barr Harbor Drive, Suite 250

  W. Conshohocken, PA 19428-2977

  Facsimile: 610-567-1039

  Attention: Philip Smith

   

  	 

				

 

 

EXHIBIT B

 

	
  Name and Address

  	
   

  	
   

  
	
   

  
	
  Robert Margolskee

  [Intentionally omitted]

  
	
   

  
	
  D. Scott Linthicum

  [Intentionally omitted]

  
	
   

  
	
  Givaudan Flavors
  Corporation

  1199 Edison Drive

  Cincinnati, Ohio 45216

  
	
   

  
	
  Justin M. Margolskee,
  as custodian

      For Daniel P. Margolskee, Allison J. Margolskee

  and Andrew J. Margolskee

  [Intentionally omitted]

  
	
   

  
	
  Nanda Beatini

  [Intentionally omitted]

  
	
   

  
	
  Lenore Snyder

  [Intentionally omitted]

  
	
   

  
	
  Richard McGregor

  [Intentionally omitted]

  
	
   

  
	
  Stephen Gravina

  [Intentionally omitted]

  
	
   

  
	
  Shawn M. Marcell

  [Intentionally omitted]

  

 

 

	
  Name and Address

  	
   

  	
   

  	
   

  
	
   

  	 

	
   

  	 

	
   

  	 

	
  Harvey D. Homan

  [Intentionally omitted]

  	 

	
   

  	 

	
  Alan Lufkin

  [Intentionally omitted]

  	 

	
   

  	 

	
  Ralph Lufkin

  [Intentionally omitted]

  	 

	
   

  	 

	
  Graeme Lufkin

  [Intentionally omitted]

  	 

	
   

  	 

	
  Mount Sinai School of
  Medicine

  One Gustav L. Levy Place

  New York, NY 10029

  	 

	
   

  	 

	
  Matthew Homan

  [Address]

  	 

	
   

  	 

	
  Michael Homan

  	 

	
  [Address]

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