Document:

INVESTOR
      RIGHTS AGREEMENT

     

    This
      Investor Rights Agreement (the “Agreement”)
      is
      made as of the day of the date set forth on the signature page, by and between
      THE JON ASHTON CORPORATION, a Texas corporation (the “Company”),
      each
      of the investors listed on Schedule A
      hereto,
      each of which is referred to in this Agreement as an “Investor”;
      each
      of the Founders listed on Schedule B,
      each of
      which is referred to in this Agreement as a “Founder”,
      hereto
      and any additional investors that becomes a party to this Agreement by executing
      and delivering to the Company a counterpart signature page hereto (which such
      person shall thereupon be deemed an “Investor” for all purposes of this
      Agreement).

    

    RECITALS

     

    WHEREAS,
      certain of the Investors (the “Existing
      Investors”)
      hold
      shares of the Company’s Series A Preferred Stock and/or shares of Common
      Stock issued upon conversion thereof and possess registration rights,
      information rights, rights of first offer, and other rights pursuant to an
      Investor Rights Agreement dated as of October 19, 2005 between the Company
      and
      such Investors (the “Prior
      Agreement”);
      and

    

    WHEREAS,
      the Existing Investors are holders of Registrable Securities of the Company
      (as
      defined in the Prior Agreement), and desire to terminate the Prior Agreement
      and
      to accept the rights created pursuant to this Agreement in lieu of the rights
      granted to them under the Prior Agreement; and

    

    WHEREAS,
      certain Investors are parties to that certain Securities Purchase Agreement
      of
      even date herewith between the Company and certain of the Investors (the
“Purchase
      Agreement”)
      relating to the offer and sale of $300,000 of equity securities in a private
      offering (the “Private
      Placement”)
      under
      which certain of the Company’s and such Investors’ obligations are conditioned
      upon the execution and delivery of this Agreement by such Investors, Existing
      Investors and the Company.

    

    NOW,
      THEREFORE, the Existing Investors hereby agree that the Prior Agreement shall
      be
      superseded and replaced in its entirety by this Agreement, and the parties
      to
      this Agreement further agree as follows:

    

    1. Definitions.
      For
      purposes of this Agreement:

    

      1.1. The
      term
“Affiliate”
means
      with respect to any individual, corporation, partnership, association, trust,
      or
      any other entity (in each case, a “Person”),
      any
      Person which, directly or indirectly, controls, is controlled by or is under
      common control with such Person, including, without limitation any general
      partner, officer or director of such Person.

     

      1.2.
       The
      term
“Capital
      Stock”
means
      (i) shares of Common Stock (whether now outstanding or hereafter issued in
      any
      context), (ii) shares of Common Stock issued or issuable upon conversion of
      the
      Preferred Stock and (iii) shares of Common Stock issued or issuable upon
      exercise or conversion, as applicable, of stock options, warrants or other
      convertible securities of the Company, in each case now owned or subsequently
      acquired by any Founder, Investor, or their respective successors or permitted
      transferees or assigns.

     

      1.3. The
      term
“Common
      Stock”
means
      shares of the Company’s common stock, par value $0.001 per share.

     

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

     

      1.5.
       The
      term
“Founder
      Stock”
means
      any Common Stock now owned or subsequently acquired by any Founder or his
      permitted transferees or assigns.

     

      1.6. The
      term
“Registration
      Statement”
means
      Form SB-2 under the Securities Act as in effect on the date hereof or any
      registration form under the Securities Act subsequently adopted by the SEC
      which
      the Company is eligible to file.

     

      1.7. The
      term
“GAAP”
means
      generally accepted accounting principles.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

      1.8.
       The
      term
“Holder”
means
      any Person owning or having the right to acquire Registrable Securities or
      any
      assignee thereof in accordance with Section 2.12
      hereof.

     

      1.9. The
      Term
“Immediate
      Family Member”
means
      a
      child,
      stepchild,
      grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law,
      father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law,
      including adoptive relationships, of a person referred to herein.

     

      1.10. The
      term
“Key
      Employee”
means
      any
      executive-level employee (including division director and Vice President level
      positions) as well as any employee who either alone or in concert with others
      develops, invents, programs or designs any Company Intellectual Property (as
      defined in Section
      2.8
      of the
      Purchase Agreement).

     

       
       1.11. The
      term
“Liquidation
      Event”
means
      a
      liquidation, dissolution or winding up of the Company and shall be deemed to
      be
      occasioned by, or to include, (A) the acquisition of the Company by another
      entity my means of any transaction or series of related transactions (including,
      without limitation, any reorganization, merger or consolidation but, excluding
      any merger effected exclusively for the purpose of changing the domicile of
      the
      Company); or (B) a sale of all or substantially all of the assets of the
      Company; unless the Company’s shareholders of record as constituted immediately
      prior such acquisition or sale will, immediately after such acquisition or
      sale
      (by virtue of securities issued as consideration for the Company’s acquisition
      or sale or otherwise) hold at least 50% of the voting power of the surviving
      or
      acquiring entity.

    

     
      1.12. The
      term
“New
      Securities”
means
      equity securities of the Company, whether now authorized or not, or rights,
      options, or warrants to purchase said equity securities, or securities of any
      type whatsoever that are, or may become, convertible into or exchangeable into
      or exercisable for said equity securities (collectively “New
      Securities”).

     

      1.13. The
      term
“Preferred
      Stock”
means,
      collectively, shares of the Company’s Series A Preferred Stock and Series B
      Preferred Stock.

     

      1.14. The
      term
“Proposed
      Founder Transfer”
means
      any proposed assignment, sale, offer to sell, pledge, mortgage, hypothecation,
      encumbrance, disposition of or any other like transfer or encumbering of any
      Capital Stock (or any interest therein) proposed by any of the Founders;
provided
      that
      Proposed Founder Transfer shall not include any merger, consolidation or like
      transfer effected pursuant to a vote of the holders of Capital Stock of the
      Company.

     

      1.15. The
      term
“Proposed
      Transfer Notice”
means
      written notice from a Founder setting forth the terms and conditions of a
      Proposed Founder Transfer.

     

      1.16. The
      term
“Prospective
      Transferee”
means
      any person to whom a Founder proposes to make a Proposed Founder
      Transfer.

     

      1.17. The
      term
“Right
      of Co-Sale”
means
      the right, but not an obligation, of an Investor to participate in a Proposed
      Founder Transfer on the terms and conditions specified in the Proposed Transfer
      Notice.

     

      1.18. The
      term
“Transfer
      Stock”
means
      shares of Capital Stock subject to a Proposed Founder Transfer.

     

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

     

    
      
        
        

      

      
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      1.20. The
      term
“Registrable
      Securities”
means
      (i) the Common Stock issued as part of the Units, (ii) the Common Stock
      issuable or issued upon conversion of the Series A Preferred Stock and
      Series B Preferred Stock, (iii) any Common Stock issued or issuable upon
      conversion of any capital stock of the Company acquired by the Investors after
      the date hereof, and (iv) any Common Stock of the Company issued as (or
      issuable upon the conversion or exercise of any warrant, right or other security
      which is issued as) a dividend or other distribution with respect to, or in
      exchange for or in replacement of the shares referenced in clause (i),
      (ii) and (iii)
      above,
      excluding in all cases, however, any Registrable Securities sold by a person
      in
      a transaction in which his rights under Section 2
      hereof
      are not assigned or any shares for which registration rights have terminated
      pursuant to Section
      2
      of this
      agreement.

     

     
      1.21. The
      term
“Registrable
      Securities then outstanding”
means
      the number of shares determined by adding the number of shares of Common Stock
      outstanding which are, and the number of shares of Common Stock issuable
      pursuant to then exercisable or convertible securities which are, Registrable
      Securities.

     

     
      1.22. The
      term
“SEC”
means
      the Securities and Exchange Commission.

     

     
      1.23. The
      term
“SEC
      Rule 144”
means
      Rule 144 promulgated by the SEC under the Securities Act.

     

     
      1.24. The
      term
“SEC
      Rule 144(k)”
means
      Rule 144(k) promulgated by the SEC under the Securities Act.

     

      1.25.
       The
      term
“SEC
      Rule 145”
means
      Rule 145 promulgated by the SEC under the Securities Act.

     

      1.26. The
      term
“Securities
      Act”
means
      the Securities Act of 1933, as amended, and the rules and regulations
      promulgated thereunder.

     

      1.27. The
      term
“Series
      A Preferred Stock”
      means
      shares of the Company’s Series A Preferred Stock, par value $0.001 per
      share.

     

      1.28. The
      term
“Series
      B Preferred Stock”
means
      shares of the Company’s Series B Preferred Stock, par value $0.001 per
      share.

     

      1.29. The
      term
“Units”
means
      units offered in the Private Placement, each Unit consisting of 1,000 shares
      of
      Common Stock and 9,000 shares of Series B Preferred Stock.

    

      1.30. The
      term
“Violation”
means
      losses, claims, damages, or liabilities (joint or several) to which a party
      hereto 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: (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, (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 by any other party hereto, 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.

     

    2. Registration
      Rights. The
      Company and the Investors covenant and agree as follows:

    

      2.1.
       Mandatory
      Registration. The
      Company shall prepare, and, as soon as practicable but in no event later than
      90
      days after the final closing date of the Private Placement (the “Filing
      Deadline”),
      file
      with the SEC the Registration Statement on Form SB-2 or other appropriate form
      of registration statement to be determined by the Company, covering the resale
      of all of the Registrable Securities. The Registration Statement prepared
      pursuant hereto shall register for resale all of the Registrable Securities.
      The
      Company shall use its commercially reasonable efforts to have the Registration
      Statement declared effective by the SEC within 180 days after the final closing
      date of the Private Placement (the “Effectiveness
      Deadline”).

     

    
      
        
        

      

      
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       2.2. Company
      Obligations.
      At such
      time as the Company is obligated to file a Registration Statement with the
      SEC
      pursuant to Section
      2.1
      hereto,
      the Company will use its commercially reasonable efforts to effect the
      registration of the Registrable Securities in accordance with the intended
      method of disposition thereof and, pursuant thereto, the Company shall have the
      following obligations:

    

       (a) The
      Company shall promptly prepare and file with the SEC a Registration Statement
      with respect to the Registrable Securities (but in no event later than the
      Filing Deadline) and use its commercially reasonable efforts to cause such
      Registration Statement relating to the Registrable Securities to become
      effective by the Effectiveness Deadline. The Company shall keep each
      Registration Statement effective pursuant to Rule 415 at all times to permit
      the
      sale of the Registrable Securities until the earlier of (i) the date that all
      of
      the Registrable Securities have been sold pursuant to the Registration
      Statement, or (ii) the date the holders of the Registrable Securities may sell
      their Registrable Securities covered by such Registration Statement pursuant
      to
      Rule 144 (or successor thereto) promulgated under the Securities Act, or (iii)
      the date the holders of the Registrable Securities receive an opinion of counsel
      that such shares may be sold under the provisions of Rule 144(k) (in each case,
      the “Registration Period”), which Registration Statement (including any
      amendments or supplements thereto and prospectuses contained therein) shall
      not
      contain any untrue statement of a material fact or omit to state a material
      fact
      required to be stated therein, or necessary to make the statements therein,
      in
      the light of the circumstances in which they were made, not
      misleading.

    

    (b) The
      Company shall prepare and file with the SEC such amendments (including
      post-effective amendments) and supplements to the Registration Statement and
      the
      prospectus used in connection with such Registration Statement, which prospectus
      is to be filed pursuant to Rule 424 promulgated under the Securities Act, as
      may
      be necessary to keep such Registration Statement effective at all times during
      the Registration Period, and, during such period, comply with the provisions
      of
      the Securities Act with respect to the disposition of all Registrable Securities
      of the Company covered by such Registration Statement until such time as all
      of
      such Registrable Securities shall have been disposed of in accordance with
      the
      intended methods of disposition by the seller or sellers thereof as set forth
      in
      such Registration Statement. In the case of amendments and supplements to the
      Registration Statement which are required to be filed pursuant to this Agreement
      (including pursuant to this Section
      2.2(b))
      by
      reason of the Company filing a report on Form 10-KSB, Form 10-QSB or Form 8-K
      or
      any analogous report under the Exchange Act, the Company shall have incorporated
      such report by reference into the Registration Statement, if applicable, or
      shall file such amendments or supplements with the SEC on the same day on which
      the Exchange Act report is filed which created the requirement for the Company
      to amend or supplement the Registration Statement.

    

    (c) The
      Company shall (i) permit the Existing Investors, and counsel for the Existing
      Investors, to review and comment upon (A) the Registration Statement at least
      three (3) business days prior to its filing with the SEC and (B) all other
      Registration Statements and all amendments and supplements to all Registration
      Statements within a reasonable number of days prior to their filing with the
      SEC, and (ii) not file any Registration Statement or amendment or supplement
      thereto in a form to which the Existing Investors reasonably objects. The
      Company shall not submit a request for acceleration of the effectiveness of
      a
      Registration Statement or any amendment or supplement thereto without the prior
      approval of the Existing Investors, which consent shall not be unreasonably
      withheld. The Company shall furnish to the Existing Investors, without charge,
      (x) copies of any correspondence from the SEC or the staff of the SEC to the
      Company or its representatives relating to any Registration Statement, (y)
      promptly after the same is prepared and filed with the SEC, one copy of any
      Registration Statement and any amendment(s) thereto, including financial
      statements and schedules, all documents incorporated therein by reference,
      if
      requested by an Existing Investor, and all exhibits and (z) upon the
      effectiveness of any Registration Statement, one copy of the prospectus included
      in such Registration Statement and all amendments and supplements
      thereto.

     

    
      
        
        

      

      
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    (d) The
      Company shall furnish to the Investors whose Registrable Securities are included
      in any Registration Statement, without charge, (i) promptly after the same
      is
      prepared and filed with the SEC, at least one copy of such Registration
      Statement and any amendment(s) thereto, including financial statements and
      schedules, all documents incorporated therein by reference, if requested by
      an
      Investor, all exhibits and each preliminary prospectus, (ii) upon the
      effectiveness of any Registration Statement, one (1) copy of the prospectus
      included in such Registration Statement and all amendments and supplements
      thereto (or such other number of copies as such Investor may reasonably request)
      and (iii) such other documents, including copies of any preliminary or final
      prospectus, as such Investor may reasonably request from time to time in order
      to facilitate the disposition of the Registrable Securities owned by such
      Investor.

    

    (e) The
      Company shall use its commercially reasonable efforts to (i) register and
      qualify, unless an exemption from registration and qualification applies, the
      resale by Investors of the Registrable Securities covered by a Registration
      Statement under such other securities or “blue sky” laws of all applicable
      jurisdictions in the United States, (ii) prepare and file in those
      jurisdictions, such amendments (including post-effective amendments) and
      supplements to such registrations and qualifications as may be necessary to
      maintain the effectiveness thereof during the Registration Period, (iii) take
      such other actions as may be reasonably necessary to maintain such registrations
      and qualifications in effect at all times during the Registration Period, and
      (iv) take all other actions reasonably necessary or advisable to qualify the
      Registrable Securities for sale in such jurisdictions; provided,
      however,
      that
      the Company shall not be required in connection therewith or as a condition
      thereto to (x) qualify to do business in any jurisdiction where it would not
      otherwise be required to qualify but for this Section
      2.2(e),
      (y)
      subject itself to general taxation in any such jurisdiction, or (z) file a
      general consent to service of process in any such jurisdiction. The Company
      shall promptly notify each Investor who holds Registrable Securities of the
      receipt by the Company of any notification with respect to the suspension of
      the
      registration or qualification of any of the Registrable Securities for sale
      under the securities or “blue sky” laws of any jurisdiction in the United States
      or its receipt of actual notice of the initiation or threatening of any
      proceeding for such purpose.

    

    (f) The
      Company shall notify each Investor in writing, including via facsimile or e-mail
      followed by overnight courier, of the happening of any event, as promptly as
      practicable after becoming aware of such event, as a result of which the
      prospectus included in a Registration Statement, as then in effect, includes
      an
      untrue statement of a material fact or omission to state a material fact
      required to be stated therein or necessary to make the statements therein,
      in
      light of the circumstances under which they were made, not misleading
      (provided
      that in
      no event shall such notice contain any material, nonpublic information), and,
      subject to Section
      2.2(o)
      hereof,
      promptly prepare a supplement or amendment to such Registration Statement to
      correct such untrue statement or omission, and deliver a copy of such supplement
      or amendment to each Investor (or such other number of copies as such Investor
      may reasonably request). The Company shall also promptly notify each Investor
      in
      writing, including via facsimile or e-mail followed by overnight courier, (i)
      when a prospectus or any prospectus supplement or post-effective amendment
      has
      been filed, and when a Registration Statement or any post-effective amendment
      has become effective (notification of such effectiveness shall be delivered
      to
      each Investor by facsimile or e-mail on the same day of such effectiveness
      and
      by overnight mail), (ii) of any request by the SEC for amendments or supplements
      to a Registration Statement or related prospectus or related information, and
      (iii) of the Company’s reasonable determination that a post-effective amendment
      to a Registration Statement would be appropriate.

    

    (g) The
      Company shall use its commercially reasonable efforts to prevent the issuance
      of
      any stop order or other suspension of effectiveness of a Registration Statement,
      or the suspension of the qualification of any of the Registrable Securities
      for
      sale in any jurisdiction and, if such an order or suspension is issued, to
      obtain the withdrawal of such order or suspension at the earliest possible
      moment and to notify each Investor who holds Registrable Securities being sold
      of the issuance of such order and the resolution thereof or its receipt of
      actual notice of the initiation or threat of any proceeding for such
      purpose.

     

    
      
        
        

      

      
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    (h) Upon
      at
      least five (5) business days prior written notice, the Company shall make
      available for inspection by (i) the Existing Investors, (ii) legal counsel
      to
      the Existing Investors and/or (iii) one firm of accountants or other agents
      retained by the Existing Investors (collectively, the “Inspectors”),
      all
      pertinent financial and other records, and pertinent corporate documents and
      properties of the Company (collectively, the “Records”),
      as
      shall be reasonably deemed necessary by each Inspector in order to enable it
      to
      exercise its due diligence responsibility, and cause the Company’s officers,
      directors and employees to supply all information which any Inspector may
      reasonably request for the purpose of such due diligence; provided,
      however,
      that in
      making such request, the Inspectors shall act together and in so acting shall
      not be entitled to make such request more than two (2) times in any fiscal
      year
      of the Company, and that any such inspection shall be at the sole cost and
      expense of the Existing Investors; provided,
      further, however,
      that
      each Inspector shall agree to hold in strict confidence and shall not make
      any
      disclosure (except to an Investor) or use of any Record or other information
      which the Company determines in good faith to be confidential, and of which
      determination the Inspectors are so notified, unless (a) the disclosure of
      such
      Records is necessary to avoid or correct a misstatement or omission in any
      Registration Statement or is otherwise required under the Securities Act, (b)
      the release of such Records is ordered pursuant to a final, non-appealable
      subpoena or order from a court or government body of competent jurisdiction,
      or
      (c) the information in such Records has been made generally available to the
      public other than by disclosure in violation of this or any other agreement
      of
      which the Inspector has knowledge. Each Existing Investor agrees that it shall,
      upon learning that disclosure of such Records is sought in or by a court or
      governmental body of competent jurisdiction or through other means, give prompt
      notice to the Company and allow the Company, at its expense, to undertake
      appropriate action to prevent disclosure of, or to obtain a protective order
      for, the Records deemed confidential. Nothing herein (or in any other
      confidentiality agreement between the Company and any Investor) shall be deemed
      to limit the Investors’ ability to sell Registrable Securities in a manner which
      is otherwise consistent with applicable laws and regulations.

    

    (i) The
      Company shall hold in confidence and not make any disclosure of information
      concerning an Investor provided to the Company unless (i) disclosure of such
      information is necessary to comply with federal or state securities laws, (ii)
      the disclosure of such information is necessary to avoid or correct a
      misstatement or omission in any Registration Statement, (iii) the release of
      such information is ordered pursuant to a subpoena or other final,
      non-appealable order from a court or governmental body of competent
      jurisdiction, or (iv) such information has been made generally available to
      the
      public other than by disclosure in violation of this Agreement or any other
      agreement. The Company agrees that it shall, upon learning that disclosure
      of
      such information concerning an Investor is sought in or by a court or
      governmental body of competent jurisdiction or through other means, give prompt
      written notice to such Investor and allow such Investor, at the Investor’s
      expense, to undertake appropriate action to prevent disclosure of, or to obtain
      a protective order for, such information.

    

    (j) The
      Company shall cooperate with the Investors who hold Registrable Securities
      being
      offered and, to the extent applicable, facilitate the timely preparation and
      delivery of certificates (not bearing any restrictive legend) representing
      the
      Registrable Securities to be offered pursuant to a Registration Statement and
      enable such certificates to be in such denominations or amounts, as the case
      may
      be, as the Investors may reasonably request and registered in such names as
      the
      Investors may request.

    

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

    

    (l) The
      Company shall use its commercially reasonable efforts to cause the Registrable
      Securities covered by the Registration Statement to be registered with or
      approved by such other governmental agencies or authorities as may be necessary
      to consummate the disposition of such Registrable Securities.

    

    (m) The
      Company shall otherwise use its commercially reasonable efforts to comply with
      all applicable rules and regulations of the SEC in connection with any
      registration hereunder.

     

    
      
        
        

      

      
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    (n) Within
      two (2) business days after a Registration Statement which covers Registrable
      Securities is ordered effective by the SEC, the Company shall deliver, and
      shall
      cause legal counsel for the Company to deliver, to the transfer agent for such
      Registrable Securities (with copies to the Investors whose Registrable
      Securities are included in such Registration Statement) confirmation that such
      Registration Statement has been declared effective by the SEC.

    

    (o) Notwithstanding
      anything to the contrary herein, at any time after the Registration Statement
      has been declared effective by the SEC, the Company may delay the disclosure
      of
      material non-public information concerning the Company, the disclosure of which
      at the time is not, in the good faith opinion of the Board of Directors of
      the
      Company and its counsel, in the best interest of the Company and, in the opinion
      of counsel to the Company, otherwise required (a “Grace
      Period”);
      provided,
      that
      the Company shall promptly (i) notify the Investors in writing of the existence
      of material non-public information giving rise to a Grace Period (provided
      that in
      each notice the Company will not disclose the content of such material
      non-public information to the Investors) and the date on which the Grace Period
      will begin, and (ii) notify the Investors in writing of the date on which the
      Grace Period ends; and, provided
      further,
      that no
      Grace Period shall exceed 30 consecutive days and during any 365 day period
      such
      Grace Periods shall not exceed an aggregate of 60 days and the first day of
      any
      Grace Period must be at least 2 trading days after the last day of any prior
      Grace Period (an “Allowable
      Grace Period”).
      For
      purposes of determining the length of a Grace Period above, the Grace Period
      shall begin on and include the date the holders receive the notice referred
      to
      in clause (i) and shall end on and include the later of the date the holders
      receive the notice referred to in clause (ii) and the date referred to in such
      notice. The provisions of Section
      2.2(g)
      hereof
      shall not be applicable during the period of any Allowable Grace Period. Upon
      expiration of the Grace Period, the Company shall again be bound by the first
      sentence of Section
      2.2(f)
      with
      respect to the information giving rise thereto unless such material non-public
      information is no longer applicable. Notwithstanding anything to the contrary,
      the Company shall cause its transfer agent to deliver unlegended shares of
      Common Stock to a transferee of an Investor in connection with any sale of
      Registrable Securities with respect to which an Investor has entered into a
      contract for sale, and delivered a copy of the prospectus included as part
      of
      the applicable Registration Statement, prior to the Investor’s receipt of the
      notice of a Grace Period and for which the Investor has not yet
      settled.

    

    (p) The
      Company shall not include any securities in the Registration Statement other
      than the Registrable Securities without the prior written consent of a majority
      in interest of the Investors.

     

     
      2.3. Obligation
      of the Investors.

    

    (a) At
      least
      two (2) business days prior to the anticipated filing date of a Registration
      Statement, the Company shall notify each Investor in writing of the information
      the Company requires from each such Investor if such Investor elects to have
      any
      of such Investor’s Registrable Securities included in such Registration
      Statement. It shall be a condition precedent to the obligations of the Company
      to complete the registration pursuant to this Agreement with respect to the
      Registrable Securities of a particular Investor that such Investor shall furnish
      to the Company such information regarding itself, the Registrable Securities
      held by it and the intended method of disposition of the Registrable Securities
      held by it, as shall be reasonably required to effect and maintain the
      effectiveness of the registration of such Registrable Securities and shall
      execute such documents in connection with such registration as the Company
      may
      reasonably request.

    

    (b) Each
      Investor, by such Investor’s acceptance of the Registrable Securities, agrees to
      cooperate with the Company as reasonably requested by the Company in connection
      with the preparation and filing of any Registration Statement hereunder, unless
      such Investor has notified the Company in writing of such Investor’s election to
      exclude all of such Investor’s Registrable Securities from such Registration
      Statement.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (c) Each
      Investor agrees that, upon receipt of any notice from the Company of the
      happening of any event of the kind described in Section
      2.2(g)
      or the
      first sentence of Section
      2.2(f),
      such
      Investor will immediately discontinue disposition of Registrable Securities
      pursuant to any Registration Statement(s) covering such Registrable Securities
      until such Investor’s receipt of the copies of the supplemented or amended
      prospectus contemplated by Section
      2.2(g)
      or the
      first sentence of Section
      2.2(f)
      or
      receipt of notice that no supplement or amendment is required. Notwithstanding
      anything to the contrary, the Company shall cause its transfer agent to deliver
      unlegended shares of Common Stock to a transferee of an Investor in accordance
      with the terms of the Purchase Agreement in connection with any sale of
      Registrable Securities with respect to which an Investor has entered into a
      contract for sale prior to the Investor’s receipt of a notice from the Company
      of the happening of any event of the kind described in Section
      2.2(g)
      or the
      first sentence of Section
      2.2(f)
      and for
      which the Investor has not yet settled.

    

     
      2.4. Expenses
      of Registration.
      All
      reasonable expenses, other than underwriting discounts and commissions, incurred
      in connection with registrations, filings or qualifications pursuant to
Section
      2,
      including, without limitation, all registration, listing and qualifications
      fees, printers and accounting fees, and fees and disbursements of counsel for
      the Company shall be paid by Michael Long, an Existing Investor.

    

     
      2.5. Indemnification.
      In the
      event any Registrable Securities are included in a Registration Statement under
      this Agreement:

    

    (a) To
      the
      fullest extent permitted by law, the Company will, and hereby does, indemnify,
      hold harmless and defend each Investor, the directors, officers, partners,
      employees, agents, representatives of, and each Person, if any, who controls
      any
      Investor within the meaning of the Securities Act or the Exchange Act (each,
      an
“Indemnified
      Person”),
      against any losses, claims, damages, liabilities, judgments, fines, penalties,
      charges, costs, reasonable attorneys’ fees, amounts paid in settlement or
      expenses, joint or several, (collectively, “Claims”)
      incurred in investigating, preparing or defending any action, claim, suit,
      inquiry, proceeding, investigation or appeal taken from the foregoing by or
      before any court or governmental, administrative or other regulatory agency,
      body or the SEC, whether pending or threatened, whether or not an indemnified
      party is or may be a party thereto (“Indemnified
      Damages”),
      to
      which any of them may become subject insofar as such Claims (or actions or
      proceedings, whether commenced or threatened, in respect thereof) arise out
      of
      or are based upon: (i) any untrue statement or alleged untrue statement of
      a
      material fact in a Registration Statement or any post-effective amendment
      thereto or in any filing made in connection with the qualification of the
      offering under the securities or other “blue sky” laws of any jurisdiction in
      which Registrable Securities are offered (“Blue
      Sky Filing”),
      or
      the omission or alleged omission to state a material fact required to be stated
      therein or necessary to make the statements therein not misleading, (ii) any
      untrue statement or alleged untrue statement of a material fact contained in
      any
      preliminary prospectus if used prior to the effective date of such Registration
      Statement, or contained in the final prospectus (as amended or supplemented,
      if
      the Company files any amendment thereof or supplement thereto with the SEC)
      or
      the omission or alleged omission to state therein any material fact necessary
      to
      make the statements made therein, in light of the circumstances under which
      the
      statements therein were made, not misleading, (iii) any violation or alleged
      violation by the Company of the Securities Act, the Exchange Act, any other
      law,
      including, without limitation, any state securities law, or any rule or
      regulation thereunder relating to the offer or sale of the Registrable
      Securities pursuant to a Registration Statement or (iv) any material violation
      of this Agreement (the matters in the foregoing clauses (i) through (iv) being,
      collectively, “Violations”).
      Subject to Section
      2.5(c),
      the
      Company shall reimburse the Indemnified Persons, promptly as such expenses
      are
      incurred and are due and payable, for any legal fees or other reasonable
      expenses incurred by them in connection with investigating or defending any
      such
      Claim. Notwithstanding anything to the contrary contained herein, the
      indemnification agreement contained in this Section
      2.5(a):
      (i)
      shall not apply to a Claim by an Indemnified Person arising out of or based
      upon
      a Violation which occurs in reliance upon and in conformity with information
      furnished in writing to the Company by such Indemnified Person for such
      Indemnified Person expressly for use in connection with the preparation of
      the
      Registration Statement or any such amendment thereof or supplement thereto,
      if
      such prospectus was timely made available by the Company pursuant to
Section
      2.2(d);
      (ii)
      with respect to any preliminary prospectus, shall not inure to the benefit
      of
      any such person from whom the person asserting any such Claim purchased the
      Registrable Securities that are the subject thereof (or to the benefit of any
      person controlling such person) if the untrue statement or omission of material
      fact contained in the preliminary prospectus was corrected in the prospectus,
      as
      then amended or supplemented, if such prospectus was timely made available
      by
      the Company pursuant to Section
      2.2(d),
      and the
      Indemnified Person was promptly advised in writing not to use the incorrect
      prospectus prior to the use giving rise to a Violation and such Indemnified
      Person, notwithstanding such advice, used it or failed to deliver the correct
      prospectus as required by the Securities Act and such correct prospectus was
      timely made available pursuant to Section
      2.2(d);
      (iii)
      shall not be available to the extent such Claim is based on a failure of the
      Investor to deliver or to cause to be delivered the prospectus made available
      by
      the Company, including a corrected prospectus, if such prospectus or corrected
      prospectus was timely made available by the Company pursuant to Section
      2.2(d);
      and
      (iv) shall not apply to amounts paid in settlement of any Claim if such
      settlement is effected without the prior written consent of the Company, which
      consent shall not be unreasonably withheld or delayed. Such indemnity shall
      remain in full force and effect regardless of any investigation made by or
      on
      behalf of the Indemnified Person and shall survive the transfer of the
      Registrable Securities by the Investors pursuant to Section
      2.8.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    (b) In
      connection with any Registration Statement in which an Investor is
      participating, each such Investor agrees to severally and not jointly indemnify,
      hold harmless and defend, to the same extent and in the same manner as is set
      forth in Section
      2.5(a),
      the
      Company, each of its directors, each of its officers who signs the Registration
      Statement each Person, if any, who controls the Company within the meaning
      of
      the Securities Act or the Exchange Act (each, an “Indemnified
      Party”),
      against any Claim or Indemnified Damages to which any of them may become
      subject, under the Securities Act, the Exchange Act or otherwise, insofar as
      such Claim or Indemnified Damages arise out of or are based upon any Violation,
      in each case to the extent, and only to the extent, that such Violation occurs
      in reliance upon and in conformity with written information furnished to the
      Company by such Investor expressly for use in connection with such Registration
      Statement; and, subject to Section
      2.5(c),
      such
      Investor will reimburse any legal or other expenses reasonably incurred by
      an
      Indemnified Party in connection with investigating or defending any such Claim;
      provided,
      however,
      that
      the indemnity agreement contained in this Section
      2.5(b)
      and the
      agreement with respect to contribution contained in Section
      2.6
      shall
      not apply to amounts paid in settlement of any Claim if such settlement is
      effected without the prior written consent of such Investor, which consent
      shall
      not be unreasonably withheld or delayed; provided,
      further, however,
      that
      the Investor shall be liable under this Section
      2.5(b)
      for only
      that amount of a Claim or Indemnified Damages as does not exceed the net
      proceeds to such Investor as a result of the sale of Registrable Securities
      pursuant to such Registration Statement. Such indemnity shall remain in full
      force and effect regardless of any investigation made by or on behalf of such
      Indemnified Party and shall survive the transfer of the Registrable Securities
      by the Investors pursuant to Section
      2.8.
      Notwithstanding anything to the contrary contained herein, the indemnification
      agreement contained in this Section
      2.5(b)
      with
      respect to any preliminary prospectus shall not inure to the benefit of any
      Indemnified Party if the untrue statement or omission of material fact contained
      in the preliminary prospectus was corrected on a timely basis in the prospectus,
      as then amended or supplemented.

    

    (c) Promptly
      after receipt by an Indemnified Person or Indemnified Party under this
Section
      2.5
      of
      notice of the commencement of any action or proceeding (including any
      governmental action or proceeding) involving a Claim, such Indemnified Person
      or
      Indemnified Party shall, if a Claim in respect thereof is to be made against
      any
      indemnifying party under this Section
      2.5,
      deliver
      to the indemnifying party a written notice of the commencement thereof, and
      the
      indemnifying party shall have the right to participate in, and, to the extent
      the indemnifying party so desires, jointly with any other indemnifying party
      similarly noticed, to assume control of the defense thereof with counsel
      mutually satisfactory to the indemnifying party and the Indemnified Person
      or
      the Indemnified Party, as the case may be; provided,
      however,
      that an
      Indemnified Person or Indemnified Party shall have the right to retain its
      own
      counsel with the fees and expenses of not more than one counsel for such
      Indemnified Person or Indemnified Party to be paid by the indemnifying party,
      if, in the reasonable opinion of counsel retained by the indemnifying party,
      the
      representation by such counsel of the Indemnified Person or Indemnified Party
      and the indemnifying party would be inappropriate due to actual or potential
      differing interests between such Indemnified Person or Indemnified Party and
      any
      other party represented by such counsel in such proceeding. In the case of
      an
      Indemnified Person, legal counsel referred to in the immediately preceding
      sentence shall be selected by the Investors holding at least a majority in
      interest of the Registrable Securities included in the Registration Statement
      to
      which the Claim relates. The Indemnified Party or Indemnified Person shall
      cooperate fully with the indemnifying party in connection with any negotiation
      or defense of any such action or Claim by the indemnifying party and shall
      furnish to the indemnifying party all information reasonably available to the
      Indemnified Party or Indemnified Person which relates to such action or Claim.
      The indemnifying party shall keep the Indemnified Party or Indemnified Person
      fully apprised at all times as to the status of the defense or any settlement
      negotiations with respect thereto. No indemnifying party shall be liable for
      any
      settlement of any action, claim or proceeding effected without its prior written
      consent, provided,
      however,
      that
      the indemnifying party shall not unreasonably withhold, delay or condition
      its
      consent. No indemnifying party shall, without the prior written consent of
      the
      Indemnified Party or Indemnified Person, consent to entry of any judgment or
      enter into any settlement or other compromise which does not include as an
      unconditional term thereof the giving by the claimant or plaintiff to such
      Indemnified Party or Indemnified Person of a release from all liability in
      respect to such Claim or litigation. Following indemnification as provided
      for
      hereunder, the indemnifying party shall be subrogated to all rights of the
      Indemnified Party or Indemnified Person with respect to all third parties,
      firms
      or corporations relating to the matter for which indemnification has been made.
      The failure to deliver written notice to the indemnifying party within a
      reasonable time of the commencement of any such action shall not relieve such
      indemnifying party of any liability to the Indemnified Person or Indemnified
      Party under this Section
      2.5,
      except
      to the extent that the indemnifying party is prejudiced in its ability to defend
      such action.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    (d) The
      indemnification required by this Section
      2.5
      shall be
      made by periodic payments of the amount thereof during the course of the
      investigation or defense, as and when bills are received or Indemnified Damages
      are incurred.

    

    (e) The
      indemnity agreements contained herein shall be in addition to (i) any cause
      of
      action or similar right of the Indemnified Party or Indemnified Person against
      the indemnifying party or others, and (ii) any liabilities the indemnifying
      party may be subject to pursuant to the law.

    

     
      2.6. Contribution.
      To the
      extent any indemnification by an indemnifying party is prohibited or limited
      by
      law, the indemnifying party agrees to make the maximum contribution with respect
      to any amounts for which it would otherwise be liable under Section
      2.5
      to the
      fullest extent permitted by law; provided,
      however,
      that:
      (i) no person involved in the sale of Registrable Securities which person is
      guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
      of
      the Securities Act) in connection with such sale shall be entitled to
      contribution from any person involved in such sale of Registrable Securities
      who
      was not guilty of fraudulent misrepresentation; and (ii) contribution by any
      seller of Registrable Securities shall be limited in amount to the net amount
      of
      proceeds received by such seller from the sale of such Registrable Securities
      pursuant to such Registration Statement.

    

     
      2.7 Reports
      Under the Exchange Act.
      With a
      view to making available to the Investors the benefits of SEC Rule 144
      promulgated under the Securities Act or any other similar rule or regulation
      of
      the SEC that may at any time permit the Investors to sell securities of the
      Company to the public without registration, the Company agrees to:

    

    (a) make
      and
      keep public information available, as those terms are understood and defined
      in
      SEC Rule 144;

    

    (b) file
      with
      the SEC in a timely manner all reports and other documents required of the
      Company under the Securities Act and the Exchange Act so long as the Company
      remains subject to such requirements and the filing of such reports and other
      documents is required for the applicable provisions of SEC Rule 144;
      and

    

    (c) furnish
      to each Investor so long as such Investor owns Registrable Securities, promptly
      upon request, (i) a written statement by the Company, if true, that it has
      complied with the reporting requirements of SEC Rule 144, the Securities Act
      and
      the Exchange Act, (ii) a copy of the most recent annual or quarterly report
      of
      the Company and such other reports and documents so filed by the Company, and
      (iii) such other information as may be reasonably requested to permit the
      Investors to sell such securities pursuant to SEC Rule 144 without registration,
      including opinions of counsel to the company.

    

     
      2.8 Assignment
      of Registration Rights.
      The
      rights under Section
      2
      of this
      Agreement shall be automatically assignable by the Investors to any transferee
      of Registrable Securities if: (i) the Investor agrees in writing with the
      transferee or assignee to assign such rights, and a copy of such agreement
      is
      furnished to the Company within a reasonable time after such assignment; (ii)
      the Company is, within a reasonable time after such transfer or assignment,
      furnished with written notice of (a) the name and address of such transferee
      or
      assignee, and (b) the securities with respect to which such registration rights
      are being transferred or assigned; (iii) immediately following such transfer
      or
      assignment the further disposition of such securities by the transferee or
      assignee is restricted under the Securities Act and applicable state securities
      laws; (iv) at or before the time the Company receives the written notice
      contemplated by clause (ii) of this sentence the transferee or assignee agrees
      in writing with the Company to be bound by all of the provisions contained
      herein; and (v) such transfer shall have been made in accordance with the
      applicable requirements of the Purchase Agreement.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    

     
      2.9. Amendment
      of Registration Rights.
      Provisions of this Agreement may be amended and the observance thereof may
      be
      waived (either generally or in a particular instance and either retroactively
      or
      prospectively), only with the written consent of the Company and Investors
      who
      then hold at least a majority of the Registrable Securities. Any amendment
      or
      waiver effected in accordance with this Section
      2.9
      shall be
      binding upon each Investor and the Company. No such amendment shall be effective
      to the extent that it applies to less than all of the holders of the Registrable
      Securities. No consideration shall be offered or paid to any Person to amend
      or
      consent to a waiver or modification of any provision of any of this Agreement
      unless the same consideration also is offered to all of the parties to this
      Agreement.

    

    3. Lock-Up. 

     

      3.1. Prohibition
      of Transfers During Restricted Period.
      Except
      as set forth in Section
      3.3,
      no
      Founder shall, at any time beginning on the effective date and ending on the
      first anniversary of the effective date of the Registration Statement (the
      “Restricted
      Period”),
      directly or indirectly, (i) offer, pledge, sell, contract to sell, sell any
      option or contract to purchase, purchase any option or contract to sell, grant
      any option, right or warrant to purchase, lend or otherwise transfer or dispose
      of, directly or indirectly, any shares of the Corporation’s common stock; or
      (ii) enter into any swap or other arrangement that transfers to another, in
      whole or in part, any of the economic consequences of ownership of any shares
      of
      the Corporation’s common stock, whether any such transaction described in clause
      (i) or (ii) above is to be settled by delivery of shares, in cash or otherwise
      (any such transaction, whether or not for consideration, being referred to
      herein as a “Transfer”
and
      each Person to whom a Transfer is made, regardless of the method of Transfer,
      is
      referred as a “Transferee”).

    

      3.2. Obligations
      of Transferees.
      Except
      for Transfers described in the last sentence of this Section, no Transfer by
      a
      Founder (including a permitted Transfer pursuant to Section
      3.3),
      shall
      be effective unless the Transferee shall have executed and delivered to the
      Company an appropriate document in form and substance reasonably satisfactory
      to
      the Company confirming that the Transferee takes such shares subject to all
      the
      terms and conditions of this Agreement to the same extent as its transferor
      was
      bound by such provisions (including without limitation that the Transferred
      Shares bear legends substantially in the forms required by Section
      3.4
      of this
      Agreement). Transfers by such Transferees shall be subject to the terms of
      this
      Agreement. The requirements set forth in this Section shall not apply to
      Transfers permitted by Section
      3.3(c).

    

      3.3. Permitted
      Transfers.
      The
      restrictions on Transfers set forth in Section
      3.1
      of this
      Agreement shall not apply to a Transfer (a) to any trust, partnership,
      corporation or limited liability company of which the transferring Founder
      is
      the principal owner or beneficiary; (b) to a legal representative of such
      Founder in the event such Founder becomes mentally incompetent or to such
      Founder’s personal representative following the death of such Founder in which
      event such Transferred Shares shall be deemed to be beneficially owned by such
      Founder following such Transfer; or (c) in connection with any merger,
      consolidation or other business combination of the Company.

     

     
      3.4 Legends.
      Each of
      the Founders hereby agrees that each outstanding certificate representing shares
      of Company Common Stock held by such Founder shall bear legends substantially
      as
      follows:

    

    (a) THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE
      AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE SUCH
      A
      REGISTRATION IS IN EFFECT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER
      SAID ACT AND APPLICABLE STATE SECURITIES LAWS.

    

    (b) The
      legend set forth in Section 6.5(a).

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

     
      3.5 Termination
      of Restrictive Legends.
      The
      restrictions referred to in Section
      3.4(a)
      shall
      cease and terminate as to any particular shares (x) when, in the opinion of
      counsel for the Company, such restriction is no longer required in order to
      assure compliance with the Securities Act or (y) when such shares shall have
      been transferred in a Rule 144 Transfer or effectively registered under the
      Securities Act. The restrictions referred to in Section
      3.4(b)
      shall
      cease and terminate at the end of the Restricted Period. Whenever such
      restrictions shall cease and terminate as to any shares, and subject to
Section
      6.5(b),
      the
      Founder holding such shares shall be entitled to receive from the Company,
      in
      exchange for such legended certificates, without expense (other than applicable
      transfer taxes, if any, if such unlegended shares are being delivered and
      transferred to any Person other than the registered holder thereof), new
      certificates for a like number of shares not bearing the relevant legend(s)
      set
      forth in Section
      3.4.
      The
      Company may request from any Founder a certificate or an opinion of such
      Founder’s counsel with respect to any relevant matters in connection with the
      removal of the legend(s) set forth in Section
      3.4(a)
      from
      such Founder’s stock certificates, any such certificate or opinion of counsel to
      be reasonably satisfactory to the Company.

    

     
      3.6. Copy
      of Agreement.
      A copy
      of this Agreement shall be filed with the corporate secretary of the Company
      and
      shall be kept with the records of the Company and shall be made available for
      inspection by any stockholder of the Company.

    

     
      3.7. Recordation.
      The
      Company shall not record upon its books any Transfer to any Person except
      Transfers in accordance with this Agreement.

    

    4. Information
      Rights.

     

      4.1.
       Delivery
      of Financial Statements. The
      Company shall deliver to each Investor, provided,
      that
      the Board of Directors has not reasonably determined that such Investor is
      a
      competitor of the Company:

     

        (a)
       as
      soon
      as practicable, but in any event within ninety (90) days after the end of each
      fiscal year of the Company, a balance sheet and income statement as of the
      last
      day of such year; a statement of cash flows for such year, such year-end
      financial reports to be in reasonable detail, prepared in accordance with GAAP,
      (except that the financial report may not contain all notes thereto which may
      be
      required in accordance with GAAP); such annual financial statements may, but
      are
      not required to be, audited; and

     

       (b)
       as
      soon
      as practicable, but in any event within forty-five (45) days after the end
      of
      each of the first three (3) quarters of each fiscal year of the Company, an
      unaudited income statement, schedule as to the sources and application of funds
      for such fiscal quarter, an unaudited balance sheet and a statement of
      stockholder’s equity as of the end of such fiscal quarter.

     

      4.2. Termination
      of Information Covenants.
      The
      covenants set forth in Section
      4.1
      shall
      terminate as to the Investor and be of no further force or effect on the earlier
      of (i) the effective date of the Registration Statement, (ii) when the Company
      first becomes subject to the periodic reporting requirements of Sections 12(g)
      or 15(d) of the Exchange Act, or (iii) the occurrence of a Liquidation
      Event.

    

    4.3.
       Confidentiality.
      Each
      Investor agrees that such Investor will keep confidential and will not disclose,
      divulge or use for any purpose, other than to monitor its investment in the
      Company, any
      confidential information obtained from the Company pursuant to the terms of
      this
      Agreement, unless such confidential information (i) is known or becomes known
      to
the
      public in general (other than as a result of a breach of this Section
      4.3
      by such
      Investor), (ii) is or has been independently developed or conceived by the
      Investor without use of the Company’s confidential information or (iii) is or
      has been made known or disclosed to the Investor by a third party without a
      breach of any obligation of confidentiality such third party may have to the
      Company; provided,
      however,
      that an
      Investor may disclose confidential information (a) to its attorneys,
      accountants, consultants, and other professionals to the extent necessary to
      obtain their services in connection with monitoring its investment in the
      Company, (b) to any prospective investor of any Registrable Securities from
      such Investor as long as such prospective investor agrees to be bound by the
      provisions of this Section
      4.3,
      (c) to any Affiliate, partner, member, stockholder or wholly owned
      subsidiary of such Investor in the ordinary course of business, or (d) as may
      otherwise be required by law, provided
      that the
      Investor takes reasonable steps to minimize the extent of any such required
      disclosure. 

     

    
      
        
        

      

      
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    5.
       Right
      of First Offer. 

     

      5.1. Right
      of First Offer. Subject
      to the terms and conditions specified in this Section 5.1,
      and
      applicable securities laws, in the event the Company proposes to offer or sell
      any New Securities, the Company shall first make an offering of such New
      Securities to each Investor in accordance with the following provisions of
      this
Section
      5.1.
      An
      Investor shall be entitled to apportion the right of first offer hereby granted
      it among itself and its partners, members and Affiliates in such proportions
      as
      it deems appropriate.

    

       (a)
       The
      Company shall deliver a notice, in accordance with the provisions of
Section
      8.5
      hereof,
      (the “Offer
      Notice”)
      to
      each of the Investors stating (i) its bona fide intention to offer such New
      Securities, (ii) the number of such New Securities to be offered, and
      (iii) the price and terms, if any, upon which it proposes to offer such New
      Securities.

     

       (b)
       By
      written notification received by the Company, within twenty (20) calendar days
      after mailing of the Offer Notice, each of the Investors may elect to purchase
      or obtain, at the price and on the terms specified in the Offer Notice, up
      to
      that portion of such New Securities which equals the proportion that the number
      of shares of Common Stock issued and held, or issuable upon conversion of the
      Preferred Stock (and any other securities convertible into, or otherwise
      exercisable or exchangeable for, shares of Common Stock) then held, by such
      Investor bears to the total number of shares of Common Stock of the Company
      then
      outstanding (assuming full conversion and exercise of all convertible or
      exercisable securities). The Company shall promptly, in writing, inform each
      Investor that elects to purchase all the shares available to it (each, a
“Fully-Exercising
      Investor”)
      of any
      other Investor’s failure to do likewise. During the ten (10) day period
      commencing after receipt of such information, each Fully-Exercising Investor
      shall be entitled to obtain that portion of the New Securities for which
      Investors were entitled to subscribe but which were not subscribed for by the
      Investors which is equal to the proportion that the number of shares of Common
      Stock issued and held, or issuable upon conversion of Preferred Stock then
      held,
      by such Fully-Exercising Investor bears to the total number of shares of Common
      Stock issued and held, or issuable upon conversion of the Preferred Stock then
      held, by all Fully-Exercising Investors who wish to purchase such unsubscribed
      shares.

     

       (c)
       If
      all
      New Securities referred to in the Offer Notice are not elected to be purchased
      or obtained as provided in Section 5.1(b)
      hereof,
      the Company may, during the ninety (90) day period following the expiration
      of
      the period provided in Section 5.1(b)
      hereof,
      offer the remaining unsubscribed portion of such New Securities (collectively,
      the “Refused
      Securities”)
      to any
      person or persons at a price not less than, and upon terms no more favorable
      to
      the offeree than, those specified in the Offer Notice. If the Company does
      not
      enter into an agreement for the sale of the New Securities within such period,
      or if such agreement is not consummated within thirty (30) days of the execution
      thereof, the right provided hereunder shall be deemed to be revived and such
      New
      Securities shall not be offered unless first reoffered to the Investors in
      accordance with this Section
      5.1.

     

       (d)
       The
      right
      of first offer in this Section
      5.1
      shall
      not be applicable to: (i) up to 1,000,000 shares of Common Stock issued or
      deemed issued to employees or directors of, or consultants to, the Company
      or
      any of its subsidiaries pursuant to a plan, agreement, or arrangement approved
      by the Board of Directors of the Company; (ii) shares of Common Stock
      issued in a registered public offering; (iii) the issuance of securities
      pursuant to the conversion or exercise of convertible or exercisable securities
      outstanding on the date hereof; (iv) securities issued in connection with any
      stock split or stock dividend of the Company; (v) the issuance of
      securities in connection with a bona fide business acquisition of or by the
      Company, whether by merger, consolidation, sale of assets, sale or exchange
      of
      stock or otherwise; or (vi) the issuance of stock, warrants or other
      securities or rights to persons or entities with which the Company has business
      relationships provided
      such
      issuances are for other than primarily capital raising purposes. 

     

       (e)
       The
      right
      of first offer set forth in this Section 5.1
      may not
      be assigned or transferred except that (i) such right is assignable by each
      Investor to any Affiliate of such Investor, and (ii) such right is
      assignable by any Investor to any other Investor. Notwithstanding the foregoing,
      the right of first offer set forth in this Section
      5.1
      shall
      terminate with respect to any Investor who fails to purchase, in any transaction
      subject to this Section
      5.1,
      all of
      such Investor’s pro rata amount of the New Securities allocated (or if less than
      such Investor’s pro rata amount is offered by the Company, such lesser amount so
      offered) to such Investor pursuant to this Section
      5.1.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

      5.2. Termination. The
      provisions of this Section
      5
      shall
      terminate upon the earlier of: (a) the effective date of the Company’s
      Registration Statement, (b) when the Company first becomes subject to the
      periodic reporting requirements of Sections 12(g) or 15(d) of the Exchange
      Act,
      or (c) a Liquidation Event. 

    

    6. Tag-Along
      Rights.

     

      6.1. Proposed
      Transfer Notice.
      Each
      Founder proposing to make a Proposed Founder Transfer must deliver a Proposed
      Transfer Notice to the Company and the Investors not later than twenty (20)
      days
      prior to the consummation of such Proposed Founder Transfer. Such Proposed
      Transfer Notice shall contain the material terms and conditions of the Proposed
      Founder Transfer and the identity of the Prospective Transferee. 

     

      6.2. Right
      of Co-Sale. 

     

       (a)
       Each
      respective Investor may elect to exercise its Right of Co-Sale and participate
      on a pro-rata basis in the Proposed Founder Transfer on the same terms and
      conditions specified in the Proposed Transfer Notice. Each Investor who desires
      to exercise its Right of Co-Sale must give the selling Founder written notice
      to
      that effect within fifteen (15) days after the receipt of a Proposed Transfer
      Notice described above, and upon giving such notice such Investor shall be
      deemed to have effectively exercised the Right of Co-Sale.

     

       (b)
       Each
      Investor who timely exercises his, her or its Right of Co-Sale by delivering
      the
      written notice provided for above in Section
      6.2(a)
      may
      include in the Proposed Founder Transfer all or any part of his, her or its
      Capital Stock equal to the product obtained by multiplying (i) the
      aggregate number of shares of Founder Stock subject to the Proposed Founder
      Transfer by (ii) a fraction, the numerator of which is the number of shares
      of
      Capital Stock owned by such Investor immediately before consummation of the
      Proposed Founder Transfer and the denominator of which is the total number
      of
      shares of Capital Stock owned, in the aggregate, by all Investors immediately
      prior to the consummation of the Proposed Founder Transfer plus
      the
      number of shares of Capital Stock held by the selling Founder. To the extent
      one
      or more of the Investors exercise such right of participation in accordance
      with
      the terms and conditions set forth herein, the number of shares of Capital
      Stock
      that the selling Founder may sell in the Proposed Founder Transfer shall be
      correspondingly reduced.

     

       (c)
       Each
      Investor shall effect its participation in the Proposed Founder Transfer by
      promptly delivering to the transferring Founder, no later than fifteen (15)
      days
      after such Investor’s exercise of the Right of Co-Sale, one or more stock
      certificates, properly endorsed for transfer to the Prospective Transferee,
      representing:

     

    (i)  the
      number of shares of Common Stock that such Investor elects to include in the
      Proposed Founder Transfer; or

     

    (ii)  the
      number of shares of Preferred Stock which is at such time convertible into
      the
      number of shares of Common Stock that such Investor elects to include in the
      Proposed Founder Transfer; provided,
      however,
      that if
      the Prospective Transferee objects to the delivery of Preferred Stock in lieu
      of
      Common Stock, such Investor shall first convert the Preferred Stock into Common
      Stock and deliver Common Stock as provided above. The Company agrees to make
      any
      such conversion concurrent with and contingent upon the actual transfer of
      such
      shares to the Prospective Transferee.

     

       (d)
       The
      terms
      and conditions of any sale pursuant to this Section
      6.2
      will be
      memorialized in, and governed by, a written purchase and sale agreement with
      customary terms and provisions for such a transaction.

     

       (e)
       Each
      stock certificate an Investor delivers to the selling Founder pursuant to
Section
      6.2
      will be
      transferred to the Prospective Transferee against payment therefor in
      consummation of the sale of the Transfer Stock pursuant to the terms and
      conditions specified in the Proposed Transfer Notice and the purchase and sale
      agreement, and the selling Founder shall concurrently therewith remit to each
      Investor the portion of the sale proceeds to which such Investor is entitled
      by
      reason of its participation in such sale. If any Prospective Transferee or
      Transferees refuse(s) to purchase securities subject to the Right of Co-Sale
      from any Investor exercising its Right of Co-Sale hereunder, no Founder may
      sell
      any Founder Stock to such Prospective Transferee or Transferee unless and until,
      simultaneously with such sale, such Founder purchases all securities subject
      to
      the Right of Co-Sale from such Investor.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

       (f)
       If
      any
      Proposed Founder Transfer is not consummated within sixty (60) days after
      receipt of the Proposed Transfer Notice by the Company, the Founders proposing
      the Proposed Founder Transfer may not sell any Founder’s Stock unless they first
      comply in full with each provision of this Section
      6.
      The
      exercise or election not to exercise any right by any Investor hereunder shall
      not adversely affect its right to participate in any other sales of Transfer
      Stock subject to this Section 6.2.

     

      6.3. Effect
      of Failure to Comply.
      

     

       (a) Any
      Proposed Founder Transfer not made in compliance with the requirements of this
      Agreement shall be null and void ab initio, shall not be recorded on the books
      of the Company or its transfer agent and shall not be recognized by the Company.
      Each party hereto acknowledges and agrees that any breach of this Agreement
      would result in substantial harm to the other parties hereto for which monetary
      damages alone could not adequately compensate. Therefore, the parties hereto
      unconditionally and irrevocably agree that any non-breaching party hereto shall
      be entitled to seek protective orders, injunctive relief and other remedies
      available at law or in equity (including, without limitation, seeking specific
      performance or the rescission of purchases, sales and other transfers of Capital
      Stock not made in strict compliance with this Agreement).

     

       (b) If
      any
      Founder purports to sell any Capital Stock in contravention of the Right of
      Co-Sale (a “Prohibited
      Transfer”),
      each
      Investor, in addition to such remedies as may be available by law, in equity
      or
      hereunder, is entitled to require such Founder to purchase shares of Capital
      Stock from such Investor, as provided below, and such Founder will be bound
      by
      the terms of such option. If a Founder makes a Prohibited Transfer, each
      Investor who timely exercises his, her or its Right of Co-Sale under
Section
      6.2
      may
      require such Founder to purchase from such Investor the type and number of
      shares of Capital Stock that such Investor would have been entitled to sell
      to
      the Prospective Transferee under Section
      6.2
      had the
      Prohibited Transfer been effected pursuant to and in compliance with the terms
      of Section
      6.2.
      The
      sale will be made on the same terms and subject to the same conditions as would
      have applied had the Founder not made the Prohibited Transfer, except that
      the
      sale (including, without limitation, the delivery of the purchase price) must
      be
      made within ninety (90) days after the Investor learns of the Prohibited
      Transfer, as opposed to the timeframe proscribed in Section 6.2.
      Such
      Key Holder shall also reimburse each Investor for any and all fees and expenses,
      including legal fees and expenses, incurred pursuant to the exercise or the
      attempted exercise of the Investor’s rights under Section
      6.2.

     

    6.4.
       Exempt
      Transfers.

     

    (a) Notwithstanding
      the foregoing or anything to the contrary herein, the provisions of Sections
      6
      shall
      not apply: (i) in the case of a Founder that is an entity, upon a transfer
      by
      such Founder to its stockholders, members, partners or other equity holders,
      (ii) to a repurchase of Capital Stock from a Founder by the Company at a price
      no greater than that originally paid by such Founder for such Capital Stock
      and
      pursuant to an agreement containing vesting and/or repurchase provisions
      approved by a majority of the Board of Directors, (iii) to a pledge of Capital
      Stock that creates a mere security interest in the pledged Capital Stock,
provided
      that the
      pledgee thereof agrees in writing in advance to be bound by and comply with
      all
      applicable provisions of this Agreement to the same extent as if it were the
      Founder making such pledge, or (iv) in the case of a Founder that is a natural
      person, upon a transfer of Capital Stock by such Founder, either during his
      or
      her lifetime or on death by will or intestacy to his or her siblings, lineal
      antecedents or descendents, children, grandchildren, spouse or any other
      relatives approved by the Board of Directors of the Company, or any custodian
      or
      trustee for the account of a Founder or a Founder’s siblings, lineal antecedents
      or descendents, children, grandchildren or spouse. 

     

    (b) Notwithstanding
      the foregoing or anything to the contrary herein, the provisions of Section
      6
      shall
      not apply to the sale of any Capital Stock to the public in an offering pursuant
      to an effective registration statement under the Securities Act.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

     
      6.5.  Legend.

     

    (a) Each
      certificate representing shares of Capital Stock held by the Founders or issued
      to any permitted transferee in connection with a transfer permitted by
Section 6
      hereof
      shall be endorsed with the following legend:

     

    THE
      SALE,
      PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS
      CERTIFICATE IS SUBJECT TO, AND IN CERTAIN CASES PROHIBITED BY, THE TERMS AND
      CONDITIONS OF A CERTAIN INVESTOR RIGHTS AGREEMENT BY AND AMONG THE STOCKHOLDER,
      THE CORPORATION AND CERTAIN OTHER HOLDERS OF STOCK OF THE CORPORATION. COPIES
      OF
      SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE
      CORPORATION.

    

       (b) Each
      Founder agrees that the Company may instruct its transfer agent to impose
      transfer restrictions on the shares represented by certificates bearing the
      legend referred to in Section
      6.5
      above to
      enforce the provisions of this Agreement, and the Company agrees to promptly
      do
      so. The legend shall be removed upon termination of this Agreement at the
      request of the holder.

     

      6.6.
       Termination.
      This
      provisions of this Section
      6
      shall
      terminate upon the earlier of (i) the effective date of the Registration
      Statement, (ii) immediately prior to the Company’s first public offering and
      (iii) the occurrence of a Liquidation Event.

     

      6.7.
       Ownership.
      Each
      Founder represents and warrants that he is the sole legal and beneficial owner
      of the shares of Founder Stock subject to this Agreement and that no other
      person has any interest in such shares (other than a community property interest
      as to which the holder thereof has acknowledged and agreed in writing to the
      restrictions and obligations hereunder).

     

    7. Additional
      Covenants.
      

     

      7.1. Employee
      Agreements.
      The
      Company will cause (i) each officer, director and Key Employee (as defined
      in
      the Purchase Agreement) to enter into a non-disclosure and proprietary rights
      assignment agreement, and (ii) each of Mark Trimble and John Peper to enter
      into employment agreements with the Company, in form acceptable to each of
      the
      Company and the Existing Investors, which agreement will include, among other
      things, a requirement that each of those employees devote their time exclusively
      to the business of the Company and non-competition and non-solicitation
      agreements extending one year following the termination of employment.

    

      7.2.
       Option
      Plan.
      For so
      long as any shares of Preferred Stock remain outstanding, (i) the Company shall
      not adopt any stock option or stock bonus plans (the “Plan”),
      other
      than those in existence on the date hereof, as described in the Purchase
      Agreement, and (ii) all options granted pursuant to the Plan will include
      vesting provisions such options vest over a period of not less than three years
      beginning no earlier than twelve months from grant.

     

    8. Miscellaneous. 

     

      8.1. Transfers,
      Successors and Assigns. The
      terms
      and conditions of this Agreement shall inure to the benefit of and be binding
      upon the respective successors and assigns of the parties. Nothing in this
      Agreement, express or implied, is intended to confer upon any party other than
      the parties hereto or their respective successors and assigns any rights,
      remedies, obligations, or liabilities under or by reason of this Agreement,
      except as expressly provided in this Agreement.

    

      8.2. Governing
      Law. This
      Agreement shall be governed by and construed in accordance with the Business
      Corporation Act of the State of Texas as to matters within the scope thereof,
      and as to all other matters shall be governed by and construed in accordance
      with the internal laws of the State of Texas, without regard to its principles
      of conflicts of laws.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

      8.3. Counterparts. 
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument. This Agreement may also be executed and delivered by facsimile
      signature and in two or more counterparts, each of which shall be deemed an
      original, but all of which together shall constitute one and the same
      instrument.

    

      8.4. Titles
      and Subtitles. The
      titles and subtitles used in this Agreement are used for convenience only and
      are not to be considered in construing or interpreting this
      Agreement.

    

      8.5. Notices. All
      notices and other communications given or made pursuant to this Agreement shall
      be in writing and shall be deemed effectively given: (a) upon personal delivery
      to the party to be notified, (b) when sent by confirmed electronic mail or
      facsimile if sent during normal business hours of the recipient, and if not
      so
      confirmed, then on the next business day, (c) five (5) days after having been
      sent by registered or certified mail, return receipt requested, postage prepaid,
      or (d) one (1) 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 respective parties at their address as
      set
      forth on the signature page or Schedule A or
      B
      (as
      applicable) hereto, or to such email address, facsimile number or address as
      subsequently modified by written notice given in accordance with this
Section
      8.5.

    

      8.6. Costs
      of Enforcement.
      If
      any
      party to this Agreement seeks to enforce its rights under this Agreement by
      legal proceedings, the non-prevailing party shall pay all costs and expenses
      incurred by the prevailing party, including, without limitation, all reasonable
      attorneys’ fees.

     

      8.7. Amendments
      and Waivers. 
      Any term
      of this Agreement may be amended and the observance of any term of this
      Agreement may be waived (either generally or in a particular instance and either
      retroactively or prospectively), only with the written consent of the Company
      and the holders of a majority of the Registrable Securities then outstanding.
      Any amendment or waiver effected in accordance with this Section shall be
      binding upon each holder of any Registrable Securities then outstanding, each
      future holder of all such Registrable Securities, and the Company.
      Notwithstanding the foregoing, this Agreement may not be amended or terminated
      and the observance of any term hereunder may not be waived with respect to
      any
      Investor without the written consent of such Investor, unless such amendment,
      termination or waiver applies to all Investors in the same fashion. The Company
      shall give prompt written notice of any amendment or termination hereof or
      waiver hereunder to any party hereto that did not consent in writing to such
      amendment, termination or waiver. Any amendment, termination or waiver effected
      in accordance with this Section
      8.7
      shall be
      binding on all parties hereto, even if they do not execute such consent. No
      waivers of or exceptions to any term, condition or provision of this Agreement,
      in any one or more instances, shall be deemed to be, or construed as, a further
      or continuing waiver of any such term, condition or provision.

    

      8.8.
       Severability. 
      The
      invalidity of unenforceability of any provision hereof shall in no way affect
      the validity or enforceability of any other provision.

    

      8.9.
       Aggregation
      of Stock. 
      All
      shares of Registrable Securities held or acquired by Affiliates shall be
      aggregated together for the purpose of determining the availability of any
      rights under this Agreement. 

    

      8.10 Additional
      Investors.
      Notwithstanding anything to the contrary contained herein, if the Company shall
      issue additional shares of the Company’s Preferred Stock after the date hereof,
      any purchaser of such shares of Preferred Stock may become a party to this
      Agreement by executing and delivering an additional counterpart signature page
      to this Agreement and thereafter shall be deemed an “Investor” for all purposes
      hereunder.

     

      8.11. Entire
      Agreement. 
      This
      Agreement (including the Exhibits hereto, if any) constitutes the full and
      entire understanding and agreement between the parties with respect to the
      subject matter hereof, and any other written or oral agreement relating to
      the
      subject matter hereof existing between the parties are expressly canceled.
      

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    

      8.12. Transfers
      of Rights.
      Each
      Investor hereto hereby agrees that it will not, and may, not assign any of
      its
      rights and obligations hereunder, unless such rights and obligations are
      assigned by such Investor to (a) any person or entity to which Registrable
      Securities are transferred by such Investor, or (b) to any Affiliate of such
      Investor, and, in each case, such transferee shall be deemed an “Investor” for
      purposes of this Agreement; provided
      that
      such assignment of rights shall be contingent upon the transferee providing
      a
      written instrument to the Company notifying the Company of such transfer and
      assignment and agreeing in writing to be bound by the terms of this
      Agreement.

     

       8.13. Dispute
      Resolution.
      Any
      unresolved controversy or claim arising out of or relating to this Agreement,
      except as otherwise provided in this Agreement, shall be submitted to
      arbitration by one arbitrator mutually agreed upon by the parties, and if no
      agreement can be reached within 30 days after names of potential arbitrators
      have been proposed by the American Arbitration Association (the “AAA”),
      then
      by one arbitrator having reasonable experience in corporate finance transactions
      of the type provided for in this Agreement and who is chosen by the AAA. The
      arbitration shall take place in Houston, Texas, in accordance with the AAA
      rules
      then in effect, and judgment upon any award rendered in such arbitration will
      be
      binding and may be entered in any court having jurisdiction thereof. There
      shall
      be limited discovery prior to the arbitration hearing as follows: (a) exchange
      of witness lists and copies of documentary evidence and documents relating
      to or
      arising out of the issues to be arbitrated, (b) depositions of all party
      witnesses and (c) such other depositions as may be allowed by the arbitrators
      upon a showing of good cause. Depositions shall be conducted in accordance
      with
      the Texas Code of Civil Procedure, the arbitrator shall be required to provide
      in writing to the parties the basis for the award or order of such arbitrator,
      and a court reporter shall record all hearings, with such record constituting
      the official transcript of such proceedings. The prevailing party shall be
      entitled to reasonable attorney’s fees, costs, and necessary disbursements in
      addition to any other relief to which such party may be entitled. Each of the
      parties to this Agreement consents to personal jurisdiction for any equitable
      action sought in the U.S. District Court for the Southern District of Texas
      or
      any court of the State of Texas having subject matter jurisdiction.

    

       8.14. Delays
      or Omissions.
      No
      delay or omission to exercise any right, power or remedy accruing to any party
      under this Agreement, upon any breach or default of any other party under this
      Agreement, shall impair any such right, power or remedy of such non-breaching
      or
      non-defaulting party 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 thereafter 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 party of any breach or default under this
      Agreement, or any waiver on the part of any party 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 party, shall be cumulative
      and not alternative.

    

    [Remainder
      of Page Intentionally Left Blank]

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

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

     

     

    
      	 	 	
              THE
                JON ASHTON CORPORATION 

            
	 	 	
               

               

            
	
              By:

            	 	
              /s/
                Mark Trimble

            
	
              Name:

            	 	
              Mark
                Trimble

            
	
              Title:

            	 	
              President

            
	
              Address:

            	 	
              5150
                Franz Rd., Suite 100 

            
	 	 	
              Katy,
                Texas 77493

            

    

     

    
 

    
      	 	 	
              FOUNDERS:

            
	 	 	
               

               

            
	
              By:

            	 	
              /s/
                Mark Trimble

            
	
              Name:

            	 	
              Mark
                Trimble

            
	 	 	
               

               

            
	
              By:

            	 	
              /s/
                John Peper

            
	
              Name:

            	 	
              John
                Peper

            
	 	 	
               

               

            
	
              By:

            	 	
              /s/
                Steven Trimble

            
	
              Name:

            	 	
              Steven
                Trimble

            
	 	 	
               

               

            
	
              By:

            	 	
              /s/
                David Hammeke

            
	
              Name:

            	 	
              David
                Hammeke

            
	 	 	 
	 	 	
              INVESTOR:

            
	 	 	 
	
              By:

            	 	 
	
              Printed
                Name:

            	 	 

    

    

    
      
        
        

      

      
        19THE
      JON ASHTON CORPORATION

    

    2005
      STOCK OPTION PLAN

     

    1.
      Purpose.
      The
      purpose of this The
      Jon Ashton Corporation 2005 Stock Option Plan ("Plan")
      is to encourage ownership of common stock, $0.001 par value ("Common Stock"),
      of
The
      Jon Ashton Corporation,
      a Texas
      corporation (the "Company"), by eligible key employees, consultants and
      directors of the Company and its Affiliates (as defined below) and to provide
      increased incentive for such employees, consultants and directors to render
      services and to exert maximum effort for the business success of the Company.
      In
      addition, the Company expects that this Plan will further strengthen the
      identification of employees, consultants and directors with the shareholders.
      Certain options to be granted under this Plan are intended to qualify as
      Incentive Stock Options ("ISOs") pursuant to Section 422 of the Internal Revenue
      Code of 1986, as amended ("Code"), while other options granted under this Plan
      will be nonqualified options which are not intended to qualify as ISOs
      ("Nonqualified Options"), either or both as provided in the agreements
      evidencing the options as provided in Section 6 hereof. As used in this Plan,
      the term "Affiliates" means any "parent corporation" of the Company and any
      "subsidiary corporation" of the Company within the meaning of Sections 424(e)
      and (f), respectively, of the Code.

    

    2.
      Administration.

    

    2.1
      Administration
      by the Board or the Compensation Committee.
      This
      Plan shall be administered by the Board of Directors (the "Board") unless the
      Board establishes a committee comprised of one or more of its members to carry
      out such administration, in which case administration of the Plan shall be
      by a
      Compensation Committee (the "Committee") designated by the Board of the Company,
      which shall also designate the Chairman of the Committee.

    

    2.2
      Board
      or Committee Action.
      The
      Board, or the Committee as appropriate, shall hold its meetings at such times
      and places as it may be determine. A majority of the members of such Board
      or
      Committee shall constitute a quorum, and all determinations of the Board or
      Committee shall be made by not less than a majority of its members. Any decision
      or determination reduced to writing and signed by a majority of the members
      shall be fully effective as if it had been made by a majority vote of its
      members at a meeting duly called and held. The Board or Committee may designate
      the Secretary of the Company or other Company employees to assist the Board
      or
      Committee in the administration of this Plan, and may grant authority to such
      persons to execute award agreements or other documents on behalf of the Board
      or
      the Committee and the Company. Any duly constituted committee of the Board
      satisfying the qualifications of this Section 2 may be appointed as the
      Committee.

    

    2.3
      Expenses.
      All
      expenses and liabilities incurred by the Board or the Committee in the
      administration of this Plan shall be borne by the Company. The Board or the
      Committee may employ attorneys, consultants, accountants or other
      persons.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.
      Stock
      Reserved.
      The
      aggregate number of shares of Common Stock that may be optioned under this
      Plan
      is 1,000,000. The shares subject to this Plan shall consist of authorized but
      unissued shares of Common Stock and such number of shares shall be and is hereby
      reserved for sale for such purpose. Any of such shares which may remain unsold
      and which are not subject to outstanding options at the termination of this
      Plan
      shall cease to be reserved for the purpose of this Plan, but until termination
      of this Plan or the termination of the last of the options granted under this
      Plan, whichever last occurs, the Company shall at all times reserve a sufficient
      number of shares to meet the requirements of this Plan. Should any option expire
      or be canceled prior to its exercise in full, the shares theretofore subject
      to
      such option may again be made subject to an option under this Plan.

    

    4.
      Eligibility.
      The
      persons eligible to participate in this Plan as a recipient of options
      ("Optionee") shall include only key employees, consultants and directors of
      the
      Company or its Affiliates at the time the option is granted. An employee or
      consultant who has been granted an option hereunder may be granted an additional
      option or options, if the Board or the Committee, as appropriate, shall so
      determine.

    

    5.
      Grant
      of Options.

    

    5.1
      Discretion.
      The
      Board or Committee, as appropriate, shall have sole and absolute discretionary
      authority (i) to determine, authorize, and designate those key employees,
      consultants and directors of the Company or its Affiliates who are to receive
      options under this Plan, (ii) to determine the number of shares of Common Stock
      to be covered by such options and the terms thereof, and (iii) to determine
      the
      type of option granted: ISOs, Nonqualified Options or a combination of ISOs
      and
      Nonqualified Options; provided that consultants and directors who are not
      employees of the Company may not receive any ISOs. The Board or Committee shall
      thereupon grant options in accordance with such determination as evidenced
      by a
      written option agreement. Subject to the express provisions of this Plan, the
      Board or the Committee shall have discretionary authority to prescribe, amend
      and rescind rules and regulations relating to this Plan, to interpret this
      Plan,
      to prescribe and amend the terms of the option agreements (which need not be
      identical) and to make all other determinations deemed necessary or advisable
      for the administration of this Plan.

    

    5.2
      Shareholder
      Approval.
      All
      options granted under this Plan are subject to, and may not be exercised before,
      the approval of this Plan by the shareholders prior to the first anniversary
      date of the Board meeting held to approve this Plan, by the affirmative vote
      of
      the holders of a majority of the outstanding shares of the Company present,
      or
      represented by proxy, and entitled to vote thereat or written consent in
      accordance with the laws of the State of Texas; provided that if such approval
      by the shareholders of the Company is not forthcoming, all options previously
      granted under this Plan shall be void.

    

    5.3
      Limitation
      on Incentive Stock Options.
      The
      aggregate fair market value (determined in accordance with Section 6.2 of this
      Plan at the time the option is granted) of the Common Stock with respect to
      which ISOs may be exercisable for the first time by any Optionee during any
      calendar year under all such plans of the Company and its Affiliates shall
      not
      exceed $100,000.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    6.
      Terms
      and Conditions.
      Each
      option granted under this Plan shall be evidenced by an agreement, in a form
      approved by the Board or the Committee, which shall be subject to the following
      express terms and conditions and to such other terms and conditions as the
      Board
      or the Committee may deem appropriate.

    

    6.1
      Option
      Period.
      The
      Board or the Committee shall promptly notify the Optionee of the option grant
      and a written agreement shall promptly be executed and delivered by and on
      behalf of the Company and the Optionee, provided that the option grant shall
      expire if a written agreement is not signed by said Optionee (or his agent
      or
      attorney) and returned to the Company within 60 days from date of receipt by
      the
      Optionee of such agreement. The date of grant shall be the date the option
      is
      actually granted by the Board or the Committee, even though the written
      agreement may be executed and delivered by the Company and the Optionee after
      that date. Each option agreement shall specify the period for which the option
      thereunder is granted (which in no event shall exceed ten years from the date
      of
      grant in the case of an ISO) and shall provide that the ISO shall expire at
      the
      end of such period. If the original term of an option is less than ten years
      from the date of grant, the option may be amended prior to its expiration,
      with
      the approval of the Board or the Committee and the Optionee, to extend the
      term
      so that the term as amended is not more than ten years from the date of grant.
      However, in the case of an ISO granted to an individual who, at the time of
      grant, owns stock possessing more than 10 percent of the total combined voting
      power of all classes of stock of the Company or its Affiliate ("Ten Percent
      Stockholder"), such period shall not exceed five years from the date of
      grant.

    

    6.2
      Exercise
      Price.
      The
      exercise price of each share of Common Stock subject to each option granted
      pursuant to this option is granted and, in the case of ISOs, shall not be less
      than 100% of the fair market value of a share of Common Stock on the date the
      option is granted, as determined by the Board or the Committee. In the case
      of
      ISOs granted to a Ten Percent Stockholder, the exercise price shall not be
      less
      than 110% of the fair market value of a share of Common Stock on the date the
      option is granted. The exercise price of each share of Common Stock subject
      to a
      Nonqualified Option under this Plan shall be determined by the Board or the
      Committee prior to granting the option. The Board or the Committee shall set
      the
      exercise price for each share subject to a Nonqualified Option at such price
      as
      the Board or the Committee in its sole discretion shall determine, provided
      that
      the exercise price of each share of Common Stock subject to a Nonqualified
      Option shall not be less than 85% of the fair market value of a share of Common
      Stock on the date the option is granted as determined by the Board or the
      Committee.

    

    For
      all
      purposes under this Plan, the fair market value of a share of Common Stock
      on a
      particular date shall be equal to the mean of the reported high and low sales
      prices of the Common Stock on the principal market on which the Common Stock
      is
      listed on that date, or if no prices are reported on that date, on the last
      preceding date on which such prices of the Common Stock are so reported. If
      the
      Common Stock is not traded on public market at the time a determination of
      its
      fair market value is required to be made hereunder, its fair market value shall
      be deemed to be equal to the average between the closing bid and ask prices
      of
      the Common Stock on the most recent date the Common Stock was publicly traded.
      In the event the Common Stock is not publicly traded at the time a determination
      of its value is required to be made hereunder, the determination of its fair
      market value shall be made by the Board or the Committee in such manner as
      it
      deems appropriate.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    6.3
      Exercise
      Period.
      The
      Board or the Committee may provide in the option agreement that an option may
      be
      exercised immediately or over the period of the grant and in whole or in
      increments. However, no portion of any option may be exercisable by an Optionee
      prior to the approval of this Plan by the shareholders of the
      Company.

    

    6.4
      Procedure
      for Exercise.
      Options
      shall be exercised by the delivery by the Optionee of written notice to the
      Secretary of the Company setting forth the number of shares of Common Stock
      with
      respect to which the option is being exercised. The notice shall be accompanied
      by, at the election of the Optionee and as permitted by the Board or the
      Committee in the Agreement granting such options, (i) cash, cashier's check,
      bank draft, or postal or express money order payable to the order of the
      Company, (ii) certificates representing shares of Common Stock theretofore
      owned
      by the Optionee duly endorsed for transfer to the Company, (iii) an election
      by
      the Optionee to have the Company withhold the number of shares of Common Stock
      the fair market value, less the exercise price, of which is equal to the
      aggregate exercise price of the shares of Common Stock issuable upon exercise
      of
      the option, or (iv) any combination of the preceding, equal in value to the
      full
      amount of the exercise price. Notice may also be delivered by telecopy provided
      that the exercise price of such shares is received by the Company via wire
      transfer on the same day the telecopy transmission is received by the Company.
      The notice shall specify the address to which the certificates for such shares
      are to be mailed. An option to purchase shares of Common Stock in accordance
      with this Plan, shall be deemed to have been exercised immediately prior to
      the
      close of business on the date (i) written notice of such exercise and (ii)
      payment in full of the exercise price for the number of share for which options
      are being exercised, are both received by the Company and the Optionee shall
      be
      treated for all purposes as the record holder of such shares of Common Stock
      as
      of such date.

    

    As
      promptly as practicable after receipt of such written notice and payment, the
      Company shall deliver to the Optionee certificates for the number of shares
      with
      respect to which such option has been so exercised, issued in the Optionee's
      name or such other name as Optionee directs; provided, however, that such
      delivery shall be deemed effected for all purposes when a stock transfer agent
      of the Company shall have deposited such certificates in the United States
      mail,
      addressed to the Optionee at the address specified pursuant to this Section
      6.4.

    

    6.5
      Termination
      of Employment.
      If an
      employee to whom an option is granted ceases to be employed by the Company
      or
      its affiliates for any reason other than death or disability or if a director
      or
      consultant to whom an option is granted ceases to serve on the Board or as
      a
      consultant for any reason other than death or disability, any option which
      is
      exercisable on the date of such termination of employment or cessation of
      serving on the Board or cessation of service as a consultant shall expire
      three-months from the date of such termination or cessation but in no event
      may
      the option be exercised after its expiration under the terms of the option
      agreement.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    6.6
      Disability
      or Death.
      In the
      event the Optionee dies or is determined under this Plan to be disabled while
      the Optionee is employed by the Company or its Affiliates, acts as consultant
      or
      while serves on the Board of the Company, the options previously granted to
      the
      Optionee may be exercised (to the extent the Optionee would have been entitled
      to do so at the date of death or the determination of disability) at any time
      and from time to time, within a three-month period after such death or
      determination of disability, by the Optionee, the guardian of the Optionee's
      estate, the executor or administrator of the Optionee's estate or by the person
      or persons to whom the Optionee's rights under the option shall pass by will
      or
      the laws of descent and distribution, but in no event may the option be
      exercised after its expiration under the terms of the option agreement. An
      Optionee shall be deemed to be disabled if, in the opinion of a physician
      selected by the Board or the Committee, the Optionee is incapable of performing
      services for the Company of the kind the Optionee was performing at the time
      the
      disability occurred by reason of any medically determinable physical or mental
      impairment which can be expected to result in death or to be of long, continued
      and indefinite duration. The date of determination of disability for purposes
      hereof shall be the date of such determination by such physician.

    

    6.7
      Transferability.
      An
      option granted pursuant to this Plan shall not be assignable or otherwise
      transferable by the Optionee otherwise than by Optionee's will or by the laws
      of
      descent and distribution or pursuant to a qualified domestic relations order
      as
      defined in the code or Title I of the Employee Retirement Income Security Act,
      as amended, or the rules thereunder. During the lifetime of an Optionee, an
      option shall be exercisable only by such Optionee. Any heir or legatee of the
      Optionee shall take rights granted herein and in the option agreement subject
      to
      the terms and conditions hereof and thereof. No such transfer of any option
      to
      heirs or legatees of the Optionee shall be effective to bind the Company unless
      the Company shall have been furnished with written notice thereof and a copy
      of
      such evidence as the Board or the Committee may deem necessary to establish
      the
      validity of the transfer and the acceptance by the transferee or transferees
      of
      the terms and conditions hereof.

    

    6.8
      Incentive
      Stock Options.
      Each
      option agreement may contain such terms and provisions as the Board or the
      Committee may determine to be necessary or desirable in order to qualify under
      the Code of option designated as an incentive stock option.

    

    6.9
      No
      Rights as Shareholder.
      No
      Optionee shall have any rights as a shareholder with respect to shares covered
      by an option until the option is exercised by written notice and accompanied
      by
      payment as provided in Section 6.4 above.

    

    6.10
      Extraordinary
      Corporate Transactions.
      The
      existence of outstanding options shall not affect in any way the right or power
      of the Company or its shareholders to make or authorize any or all adjustments,
      recapitalizations, reorganizations, exchanges, or other changes in the Company's
      capital structure or its business, or any merger or consolidation of the
      Company, or any issuance of Common Stock or other securities or subscription
      rights thereto, or any issuance of bonds, debentures, preferred or prior
      preference stock ahead of or affecting the Common Stock or the rights thereof,
      or the dissolution or liquidation of the Company, or any sale or transfer of
      all
      or any part of its assets or business, or any other corporate act or proceeding,
      whether of a similar character or otherwise. If the Company recapitalizes or
      otherwise changes its capital structure, or merges, consolidates, sells all
      of
      its assets or dissolves (each of the forgoing a "Fundamental Change"), then
      thereafter upon any exercise of an option theretofore granted the Optionee
      shall
      be entitled to purchase under such option, in lieu of the number of shares
      of
      Common Stock as to which option shall then be exercisable, the number and class
      of shares of stock and securities to which the Optionee would have been entitled
      pursuant to the terms of the Fundamental Change if, immediately prior to such
      Fundamental Change, the Optionee had been the holder of record of the number
      of
      shares of Common Stock as to which such option is then exercisable. If (i)
      the
      Company shall not be the surviving entity in any merger or consolidation (or
      survives only as a subsidiary of another entity), (ii) the Company sells all
      or
      substantially all of its assets to any other person or entity (other than a
      wholly-owned subsidiary), (iii) any person or entity (including a "group" as
      contemplated by Section 13(d)(3) of the Exchange Act) acquires or gains
      ownership or control of (including, without limitation, power to vote) more
      than
      50% of the outstanding shares of Common Stock, (iv) the Company is to be
      dissolved and liquidated, or (v) as a result of or in connection with a
      contested election of directors, the persons who were directors of the Company
      before such election shall cease to constitute a majority of the Board (each
      such event in clauses (i) through (v) above is referred to herein as a
      "Corporate Change"), the committee, in its sole discretion, may accelerate
      the
      time at which all or a portion of an Optionee's options may be exercised for
      a
      limited period of time before or after a specified date.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    6.11
      Changes
      in Capital Structure.
      If the
      outstanding shares of Common Stock or other securities of the Company, or both,
      for which the option is then exercisable shall at any time be changed or
      exchanged by declaration of a stock dividend, stock split, combination of shares
      or recapitalization, the number and kind of shares of Common Stock or other
      securities which are subject to this Plan or subject to any options theretofore
      granted, and the exercise prices, shall be appropriately and equitably adjusted
      so as to maintain the proportionate number of shares or other securities without
      changing the aggregate exercise price.

    

    6.12
      Acceleration
      of Options.
      Except
      as hereinbefore expressly provided, (i) the issuance by the Company of shares
      of
      stock of any class of securities convertible into shares of stock of any class,
      for cash, property, labor or services, upon direct sale, upon the exercise
      of
      rights or warrants to subscribe therefor, or upon conversion of shares or
      obligations of the Company convertible into such shares or other securities,
      (ii) the payment of a dividend in property other than Common Stock, or (iii)
      the
      occurrence of any similar transaction, and in any case whether or not for fair
      value, shall not affect, and no adjustment by reason thereof shall be made
      with
      respect to, the number of shares of Common Stock subject to options thereto
      fore
      granted or the purchase price per share, unless the Board or the Committee
      shall
      determine in its sole discretion that an adjustment is necessary to provide
      equitable treatment to Optionee. Notwithstanding anything to the contrary
      contained in this Plan, the Board or the Committee may in its sole discretion
      accelerate the time at which any option may be exercised, including, but not
      limited to, upon the occurrence of the events specified in this Section
      6.

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    7.
      Amendments
      or Termination.
      The
      Board may amend, alter or discontinue this Plan, but no amendment or alteration
      shall be made which would impair the rights of any Optionee, without his
      consent, under any option theretofore granted, or which, without the approval
      of
      the shareholders, would: (i) except as is provided in Section 6.11 of this
      Plan,
      increase the total number of shares reserved for the purposes of this Plan,
      (ii)
      change the class of persons eligible to participate in this Plan as provided
      in
      Section 4 of this Plan, (iii) extend the applicable maximum option period
      provided for in Section 6.1 of this Plan, (iv) extend the expiration date of
      this Plan set forth in Section 14 of this Plan, (v) except as provided in
      Section 6.11 of this Plan, decrease to any extent the exercise price of any
      option granted under this Plan or (vi) withdraw the administration of this
      Plan
      from the Board or the Committee.

    

    8.
      Compliance
      With Other Laws and Regulations.
      This
      Plan, the grant and exercise of options thereunder, and the obligation of the
      Company to sell and deliver shares under such options, shall be subject to
      all
      applicable federal and state laws, rules and regulations and to such approvals
      by any governmental or regulatory agency as may be required. The Company shall
      not be required to issue or deliver any certificates for shares of Common Stock
      prior to the completion of any registration or qualification of such shares
      under any federal or state law or issuance of any ruling or regulation of any
      government body which the Company shall, in its sole discretion, determine
      to be
      necessary or advisable. Any adjustments provided for in Sections 6.10, .11
      and
      .12 of this Plan shall be subject to any shareholder action required by Nevada
      corporate law.

    

    9.
      Purchase
      for Investment.
      Unless
      the options and shares of Common Stock covered by this Plan have been registered
      under the Securities Act of 1933, as amended, or the Company has determined
      that
      such registration is unnecessary, each person exercising an option under this
      Plan may be required by the Company to give a representation in writing that
      such person is acquiring such shares for his or her own account for investment
      and not with a view to, or for sale in connection with, the distribution of
      any
      part thereof.

    

    10.
      Taxes.

    

    10.1
      The
      Company may make such provisions as it may deem appropriate for the withholding
      of any taxes which it determines is required in connection with any options
      granted under this Plan.

    

    10.2
      Notwithstanding the terms of Section 10.1, each Optionee must pay all taxes
      required to be withheld by the Company or paid by the Optionee in connection
      with the exercise of a Nonqualified Option.

    

    11.
      Replacement
      of Options.
      The
      Board or the Committee from time to time may permit an Optionee under this
      Plan
      to surrender for cancellation any unexercised outstanding option and receive
      from the Company in exchange an option for such number of shares of Common
      Stock
      as may be designated by the Board or the Committee. The Board or the Committee
      may, with the consent of the person entitled to exercise any outstanding option,
      amend such option, including reducing the exercise price of any option to not
      less than the fair market value of the Common Stock at the time of the amendment
      and extending the term thereof.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    12.
      No
      Right to Employment.
      Employees shall be considered to be in the employment of the Company so long
      as
      they remain employees of the Company or its Affiliates. Any questions as to
      whether and when there has been a termination of such employment and the cause
      of such termination shall be determined by the Board or the Committee, and
      its
      determination shall be final. Nothing contained herein shall be construed as
      conferring upon the Optionee the right to continue in the employ of the Company
      or its Affiliates, nor shall anything contained herein be construed or
      interpreted to limit the "employment at will" relationship between the Optionee
      and the Company or its Affiliates. The option agreements may contain such
      provisions as the Board or the Committee may approve with reference to the
      effect of approved leaves of absence.

    

    13.
      Liability
      of Company for Non-Issuance of Shares and Tax Consequences.
      The
      Company and any Affiliates that are in existence or hereafter come into
      existence shall not be liable to an Optionee or other persons as
      to:

    

    13.1
      The
      non-issuance or sale of shares as to which the Company has been unable to obtain
      from any regulatory body having jurisdiction the authority deemed by the
      Company's counsel to be necessary to the lawful issuance and sale of any shares
      hereunder; and

    

    13.2
      Any
      tax consequence expected, but not realized, by any Optionee or other person
      due
      to the exercise of any option granted hereunder.

    

    14.
      Effectiveness
      and Expiration of Plan.
      This
      Plan shall be effective on the date of adoption by the Board. If the
      shareholders of the Company fail to approve this Plan within twelve months
      of
      the date of the Board adoption, this Plan shall terminate and all options
      previously granted under this Plan shall become void and of no effect. This
      Plan
      shall expire ten years after the date of the Board adopts this Plan and
      thereafter no option shall be granted pursuant to this Plan.

    

    15.
      Non-Exclusivity
      of this Plan.
      Neither
      the adoption by the Board nor the submission for approval of this Plan to the
      shareholders of the Company shall be construed as creating any limitations
      on
      the power of the Board to adopt such other incentive arrangements as it may
      deem
      desirable, including without limitation, the granting of restricted stock or
      stock options otherwise than under this Plan, and such arrangements may be
      either generally applicable or applicable only in specific cases.

    

    16.
      Governing
      Law.
      This
      Plan and any agreements hereunder shall be interpreted and construed in
      accordance with the laws of the State of Texas and applicable federal
      law.

    

    17.
      Cashless
      Exercise.
      The
      Board or the Committee also may allow cashless exercises as permitted under
      the
      Federal Reserve Board's Regulation T, subject to applicable securities law
      restrictions, or by any other means which the Board or the Committee determines
      to be consistent with this Plan's purpose and applicable law. The proceeds
      from
      such a payment shall be added to the general funds of the Company and shall
      be
      used for general corporate purposes.

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, and as conclusive evidence of the adoption of the foregoing
      by
      directors of the Company, The Jon Ashton Corporation has caused these presents
      to be duly executed in its name and behalf by its proper officers thereunto
      duly
      authorized as of this 10th day of October 2005.

    
      	 	 	 
	 	
              THE
                JON ASHTON CORPORATION

            
	 	 
	
              ATTEST:

            	 
	 
 	 
 	 
 
	
            	By:  	 
	 
              
              
Secretary	
              
                

              

              Name: Mark Trimble

              Title: President

            

    

     

    
      
        
        

      

      
        9

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