Document:

EXHIBIT 10.4

 

REGISTRATION RIGHTS
AGREEMENT

 

REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as of July 22,
2005, by and between SPHERIX INCORPORATED,
a Delaware corporation (the “Company”), and CORNELL CAPITAL PARTNERS, LP, a Delaware limited partnership (the
“Investor”).

 

WHEREAS:

 

A.                                   In
connection with the Standby Equity Distribution Agreement by and between the
parties hereto of even date herewith (the “Standby Equity Distribution
Agreement”), the Company has agreed, upon the terms and subject to the
conditions of the Standby Equity Distribution Agreement, to issue and sell to
the Investor that number of shares of the Company’s common stock, par value
$0.005 per share (the “Common Stock”), which can be purchased pursuant
to the terms of the Standby Equity Distribution Agreement for an aggregate
purchase price of up to Four Million Dollars ($4,000,000).  Capitalized terms not defined herein shall
have the meaning ascribed to them in the Standby Equity Distribution Agreement.

 

B.                                     To
induce the Investor to execute and deliver the Standby Equity Distribution
Agreement, the Company has agreed to provide certain registration rights under
the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any similar successor statute (collectively, the “Securities
Act”), and applicable state securities laws.

 

NOW,
THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Investor hereby agree as follows:

 

1.                                       DEFINITIONS.

 

As used in this Agreement, the following terms shall
have the following meanings:

 

a.                                       “Person”
means a corporation, a limited liability company, an association, a partnership,
an organization, a business, an individual, a
governmental or political subdivision thereof or a governmental agency.

 

b.                                      “Register,”
“registered,” and “registration” refer to a registration effected
by preparing and filing one or more Registration Statements (as defined below)
in compliance with the Securities Act and pursuant to Rule 415 under the
Securities Act or any successor rule providing for offering securities on
a continuous or delayed basis (“Rule 415”), and the declaration or
ordering of effectiveness of such Registration Statement(s) by the United
States Securities and Exchange Commission (the “SEC”).

 

c.                                       “Registrable
Securities” means the Investor’s Shares, as defined in the Standby Equity
Distribution Agreement and shares of Common Stock issuable to Investors
pursuant to the Standby Equity Distribution Agreement.

 

d.                                      “Registration
Statement” means a registration statement under the Securities Act which
covers the Registrable Securities.

 

 

2.                                       REGISTRATION.

 

a.                                       Mandatory
Registration.  The Company
shall prepare and file with the SEC a Registration Statement on Form S-2
or on such other form as is available. 
The Company shall cause such Registration Statement to be declared
effective by the SEC prior to the first sale to the Investor of the Company’s
Common Stock pursuant to the Standby Equity Distribution Agreement.

 

b.                                      Sufficient
Number of Shares Registered.  In the event the number of shares available
under a Registration Statement filed pursuant to Section 2(a) is
insufficient to cover all of the Registrable Securities which the Investor has
purchased pursuant to the Standby Equity Distribution Agreement, the Company
shall amend the Registration Statement, or file a new Registration Statement
(on the short form available therefore, if applicable), or both, so as to cover
all of such Registrable Securities which the Investor has purchased pursuant to
the Standby Equity Distribution Agreement as soon as practicable, but in any
event not later than fifteen (15) days after the necessity therefore
arises.  The Company shall use it best
efforts to cause such amendment and/or new Registration Statement to become
effective as soon as practicable following the filing thereof.  For purposes of the foregoing provision, the
number of shares available under a Registration Statement shall be deemed “insufficient
to cover all of the Registrable Securities” if at any time the number of
Registrable Securities issuable on an Advance Notice Date is greater than the
number of shares available for resale under such Registration Statement.

 

3.                                       RELATED
OBLIGATIONS.

 

a.                                       The Company
shall keep the Registration Statement effective pursuant to Rule 415 at
all times until the date on which the Investor shall have sold all the
Registrable Securities covered by such Registration Statement or all such
shares are eligible for resale pursuant to Rule 144(k) (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 light of
the circumstances in which they were made, not misleading.

 

b.                                      The Company
shall prepare and file with the SEC such amendments (including
post-effective amendments) and supplements to a Registration Statement and the
prospectus used in connection with such Registration Statement, which
prospectus is to be filed pursuant to Rule 424 promulgated under the 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
a Registration Statement which are required to be filed pursuant to this
Agreement (including pursuant to this Section 3(b)) by reason of the
Company’s filing a report on Form 10-K, Form 10-Q or Form 8-K or
any analogous report under the Securities Exchange Act of 1934, as amended (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

 

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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 furnish to the Investor without charge, (i) at least one copy of
such Registration Statement as declared effective by the SEC and any
amendment(s) thereto, including financial statements and schedules, all
documents incorporated therein by reference, all exhibits and each preliminary
prospectus, (ii) ten (10) copies of the final 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 as such Investor may reasonably request from time to time in
order to facilitate the disposition of the Registrable Securities owned by such
Investor.

 

d.                                      The Company
shall use its best efforts to (i) register and qualify the Registrable Securities
covered by a Registration Statement under such other securities or “blue sky”
laws of such jurisdictions in the United States as the Investor reasonably
requests, (ii) prepare and file in those jurisdictions, such amendments
(including post-effective amendments) and supplements to such registrations and
qualifications as may be necessary to maintain the effectiveness thereof during
the Registration Period, (iii) take such other actions as may be necessary
to maintain such registrations and qualifications in effect at all times during
the Registration Period, and (iv) take all other actions reasonably
necessary or advisable to qualify the Registrable Securities for sale in such
jurisdictions; provided, however, that the Company shall not be required in
connection therewith or as a condition thereto to (w) make any change to its
certificate of incorporation or by-laws, (x) qualify to do business in any
jurisdiction where it would not otherwise be required to qualify but for this Section 3(d),
(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 the
Investor 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
threat of any proceeding for such purpose.

 

e.                                       As promptly as
practicable after becoming aware of such event or development, the Company
shall notify the Investor in writing of the happening of any 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 promptly prepare a supplement or amendment to such
Registration Statement to correct such untrue statement or omission, and
deliver ten (10) copies of such supplement or amendment to each
Investor.  The Company shall also
promptly notify the Investor in writing (i) when a prospectus or any
prospectus supplement or post-effective amendment has been filed, and when a
Registration Statement or any post-effective amendment has become effective
(notification of such effectiveness shall be delivered to the Investor by
facsimile on the same day of such effectiveness), (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.

 

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f.                                         The Company
shall use its best efforts to prevent the issuance of any stop order or other
suspension of effectiveness of a Registration Statement, or the suspension of
the qualification of any of the Registrable Securities for sale in any
jurisdiction within the United States of America 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 the Investor 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.

 

g.                                      The Company
shall make available for inspection by (i) the Investor and (ii) one
firm of accountants or other agents retained by the Investor (collectively, the
“Inspectors”) all pertinent financial and other records, and pertinent
corporate documents and properties of the Company (collectively, the “Records”),
as shall be reasonably deemed necessary by each Inspector, and cause the
Company’s officers, directors and employees to supply all information which any
Inspector may reasonably request; provided, however, that each Inspector shall
agree, and the Investor hereby agrees, 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 and the Investor has
knowledge.  The 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.

 

h.                                      The Company
shall hold in confidence and not make any disclosure of information concerning
the 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 the Investor is sought
in or by a court or governmental body of competent jurisdiction or through
other means, give prompt written notice to the Investor and allow the Investor,
at the Investor’s expense, to undertake appropriate action to prevent
disclosure of, or to obtain a protective order for, such information.

 

i.                                          The Company
shall use its best efforts either to cause all the Registrable Securities
covered by a Registration Statement (i) to be listed on each securities exchange
on which securities of the same class or series issued by the Company are then
listed, if any, if the listing of such Registrable Securities is then permitted
under the rules of such exchange or to secure the inclusion for quotation
on the National Association of Securities

 

4

 

Dealers, Inc.
OTC Bulletin Board for such Registrable Securities.  The Company shall pay all fees and expenses
in connection with satisfying its obligation under this Section 3(j).

 

j.                                          The Company
shall cooperate with the Investor to the extent applicable, to 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 Investor may reasonably request and
registered in such names as the Investor may request.

 

k.                                       The Company
shall use its best efforts to cause the Registrable Securities covered by the
applicable 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.

 

l.                                          The Company
shall make generally available to its security holders as soon as practical,
but not later than ninety (90) days after the close of the period covered
thereby, an earnings statement (in form complying with the provisions of Rule 158
under the Securities Act) covering a twelve-month period beginning not later
than the first day of the Company’s fiscal quarter next following the effective
date of the Registration Statement.

 

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

 

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 Investor) confirmation that such Registration
Statement has been declared effective by the SEC in the form attached hereto as
Exhibit A.

 

o.                                      The Company
shall take all other reasonable actions necessary to expedite and facilitate
disposition by the Investor of Registrable Securities pursuant to a
Registration Statement.

 

4.                                       OBLIGATIONS OF
THE INVESTOR.

 

The Investor agrees that, upon receipt of any notice
from the Company of the happening of any event of the kind described in Section 3(f) or
the first sentence of 3(e), the Investor will immediately discontinue
disposition of Registrable Securities pursuant to any Registration Statement(s)
covering such Registrable Securities until the Investor’s receipt of the copies
of the supplemented or amended prospectus contemplated by Section 3(e) 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 certificates for
shares of Common Stock to a transferee of the Investor in accordance with the
terms of the Standby Equity Distribution Agreement in connection with any sale
of Registrable Securities with respect to which the Investor has entered into a
contract for sale prior to the Investor’s receipt of a notice from the Company
of the happening of any event of the kind described in Section 3(f) or
the first sentence of 3(e) and for which the Investor has not yet settled.

 

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5.                                       EXPENSES OF
REGISTRATION.

 

All expenses incurred in connection with
registrations, filings or qualifications pursuant to Sections 2 and 3,
including, without limitation, all registration, listing and qualifications
fees, printers, legal and accounting fees shall be paid by the Company.

 

6.                                       INDEMNIFICATION.

 

With respect to Registrable Securities which 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 the Investor, the directors, officers, partners, employees,
agents, representatives of, and each Person, if any, who controls the 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 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; or (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
there under relating to the offer or sale of the Registrable Securities
pursuant to a Registration Statement (the matters in the foregoing clauses (i) through
(iii) being, collectively, “Violations”).  The Company shall reimburse the Investor and
each such controlling person promptly as such expenses are incurred and are due
and payable, for any legal fees or disbursements or other reasonable expenses
incurred by them in connection with investigating or defending any such
Claim.  Notwithstanding anything to the
contrary contained herein, the indemnification agreement contained in this Section 6(a):
(x) 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
expressly for use in connection with the preparation of the Registration
Statement or any such amendment thereof or supplement thereto; (y) 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, if such prospectus was timely made available by the Company pursuant
to Section 3(e); and (z) shall not apply to amounts paid in settlement of
any Claim if such settlement is effected without

 

6

 

the prior written
consent of the Company, which consent shall not be unreasonably withheld.  Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of the Indemnified
Person.

 

b.                                      In connection
with a Registration Statement, the Investor agrees to indemnify, hold harmless
and defend, to the same extent and in the same manner as is set forth in Section 6(a),
the Company, each of its directors, each of its officers who signs the
Registration Statement and each Person, if any, who controls the Company within
the meaning of the 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 is 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 the Investor expressly for use in connection with such
Registration Statement; and, subject to Section 6(d), the Investor will
reimburse any legal or other expenses reasonably incurred by them in connection
with investigating or defending any such Claim; provided, however, that the
indemnity agreement contained in this Section 6(b) and the agreement
with respect to contribution contained in Section 7 shall not apply to
amounts paid in settlement of any Claim if such settlement is effected without
the prior written consent of the Investor, which consent shall not be
unreasonably withheld; provided, further, however, that the Investor shall be
liable under this Section 6(b) for only that amount of a Claim or
Indemnified Damages as does not exceed the net proceeds to the 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. 
Notwithstanding anything to the contrary contained herein, the
indemnification agreement contained in this Section 6(b) with respect
to any prospectus shall not inure to the benefit of any Indemnified Party if
the untrue statement or omission of material fact contained in the prospectus
was corrected and such new prospectus was delivered to the Investor prior to
the Investor’s use of the prospectus to which the Claim relates.

 

c.                                       Promptly after
receipt by an Indemnified Person or Indemnified Party under this Section 6
of notice of the commencement of any action or proceeding (including any
governmental action or proceeding) involving a Claim, such Indemnified Person
or Indemnified Party shall, if a Claim in respect thereof is to be made against
any indemnifying party under this Section 6, deliver to the indemnifying
party a written notice of the commencement thereof, and the indemnifying party
shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed,
to assume control of the defense thereof with counsel mutually satisfactory to
the indemnifying party and the Indemnified Person or the Indemnified Party, as
the case may be; provided, however, that an Indemnified Person or Indemnified
Party shall have the right to retain its own counsel with the fees and expenses
of not more than one counsel for such Indemnified Person or Indemnified Party
to be paid by the indemnifying party, if, in the reasonable opinion of counsel
retained by the indemnifying party, the representation by such counsel of the
Indemnified Person or Indemnified Party and the indemnifying party would be
inappropriate due to actual or potential differing  interests between such Indemnified Person or
Indemnified Party and any other party represented by such counsel in such
proceeding. 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

 

7

 

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 6,
except to the extent that the indemnifying party is prejudiced in its ability
to defend such action.

 

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

 

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

 

7.                                       CONTRIBUTION.

 

To the extent any indemnification by an indemnifying
party is prohibited or limited by law, the indemnifying party agrees to make
the maximum contribution with respect to any amounts for which it would
otherwise be liable under Section 6 to the fullest extent permitted by
law; provided, however, that: (i) no seller of Registrable Securities
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any seller 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.

 

8.                                       REPORTS UNDER
THE EXCHANGE ACT.

 

With a view to making available to the Investor the
benefits of Rule 144 promulgated under the Securities Act or any similar rule or
regulation of the SEC that may at any time permit the Investors to sell
securities of the Company to the public without registration (“Rule 144”)
the Company agrees to:

 

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

 

8

 

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 (it being understood that nothing herein shall
limit the Company’s obligations under Section 6.3 of the Standby Equity
Distribution Agreement) and the filing of such reports and other documents is
required for the applicable provisions of Rule 144; and

 

c.                                       furnish to the
Investor so long as the Investor owns Registrable Securities, promptly upon
request, (i) a written statement by the Company that it has complied with
the reporting requirements of 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 Investor to sell
such securities pursuant to Rule 144 without registration.

 

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 by a written agreement between
the Company and the Investor.  Any
amendment or waiver effected in accordance with this Section 9
shall be binding upon the Investor and the Company.  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.

 

10.                                 MISCELLANEOUS.

 

a.                                       A Person is
deemed to be a holder of Registrable Securities whenever such Person owns or is
deemed to own of record such Registrable Securities.  If the Company receives conflicting
instructions, notices or elections from two or more Persons with respect to the
same Registrable Securities, the Company shall act upon the basis of
instructions, notice or election received from the registered owner of such
Registrable Securities.

 

b.                                      Any notices,
consents, waivers or other communications required or permitted to be given
under the terms of this Agreement must be in writing and will be deemed to have
been delivered:  (i) upon receipt,
when delivered personally; (ii) upon receipt, when sent by facsimile (provided
confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one business day after
deposit with a nationally recognized overnight delivery service, in each case
properly addressed to the party to receive the same.  The addresses and facsimile numbers for such
communications shall be:

 

	
  If to the
  Company, to:

  	
   

  	
  Spherix
  Incorporated

  
	
   

  	
   

  	
  12051 Indian
  Creek Court

  
	
   

  	
   

  	
  Beltsville,
  Maryland 20705

  
	
   

  	
   

  	
  Attention:

  	
  President

  
	
   

  	
   

  	
  Telephone:

  	
  (301) 419-3900

  
	
   

  	
   

  	
  Facsimile:

  	
  (301) 210-4908

  

 

9

 

	
  With a copy to:

  	
   

  	
  James E. Baker, Jr., Esq.

  
	
   

  	
   

  	
  Baxter, Baker,
  Sidle, Conn & Jones, P.A.

  
	
   

  	
   

  	
  120 E. Baltimore
  Street, Suite 2100

  
	
   

  	
   

  	
  Baltimore, MD
  21202

  
	
   

  	
   

  	
  Facsimile:

  	
  (410) 230-3801

  
	
   

  	
   

  	
   

  
	
  If to the
  Investor, to:

  	
   

  	
  Cornell Capital
  Partners, LP

  
	
   

  	
   

  	
  101 Hudson
  Street – Suite 3700

  
	
   

  	
   

  	
  Jersey City, New
  Jersey 07302

  
	
   

  	
   

  	
  Attention:

  	
  Mark Angelo

  
	
   

  	
   

  	
   

  	
  Portfolio
  Manager

  
	
   

  	
   

  	
  Telephone:

  	
  (201) 985-8300

  
	
   

  	
   

  	
  Facsimile:

  	
  (201) 985-8266

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Cornell Capital
  Partners, LP

  
	
   

  	
   

  	
  101 Hudson
  Street – Suite 3700

  
	
   

  	
   

  	
  Jersey City, NJ
  07302

  
	
   

  	
   

  	
  Attention:

  	
  Troy J. Rillo, Esq.

  
	
   

  	
   

  	
  Telephone:

  	
  (201) 985-8300

  
	
   

  	
   

  	
  Facsimile:

  	
  (201) 985-8266

  

 

Any party may change its
address by providing written notice to the other parties hereto at least five
days prior to the effectiveness of such change. 
Written confirmation of receipt (A) given by the recipient of such
notice, consent, waiver or other communication, (B) mechanically or
electronically generated by the sender’s facsimile machine containing the time,
date, recipient facsimile number and an image of the first page of such
transmission or (C) provided by a courier or overnight courier service
shall be rebuttable evidence of personal service, receipt by facsimile or
receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

 

c.                                       Failure of any
party to exercise any right or remedy under this Agreement or otherwise, or
delay by a party in exercising such right or remedy, shall not operate as a
waiver thereof.

 

d.                                      The corporate
laws of the State of New Jersey shall govern all issues concerning the relative
rights of the Company and the Investor. 
All other questions concerning the construction, validity, enforcement
and interpretation of this Agreement shall be governed by the internal laws of
the State of New Jersey, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of New Jersey or any other
jurisdiction) that would cause the application of the laws of any jurisdiction
other than the State of New Jersey.  Each
party hereby irrevocably submits to the non-exclusive jurisdiction of the
Superior Courts of the State of New Jersey, sitting in Hudson County, New
Jersey and the Federal District Court for the District of New Jersey sitting in
Newark, New Jersey, for the adjudication of any dispute hereunder or in
connection herewith or with any transaction contemplated hereby or discussed
herein, and hereby irrevocably waives, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the
jurisdiction of

 

10

 

any such court,
that such suit, action or proceeding is brought in an inconvenient forum or
that the venue of such suit, action or proceeding is improper.  Each party hereby irrevocably waives personal
service of process and consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address for
such notices to it under this Agreement and agrees that such service shall
constitute good and sufficient service of process and notice thereof.  Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by
law.  If any provision of this Agreement
shall be invalid or unenforceable in any jurisdiction, such invalidity or
unenforceability shall not affect the validity or enforceability of the
remainder of this Agreement in that jurisdiction or the validity or
enforceability of any provision of this Agreement in any other
jurisdiction.  EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A
JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED
HEREBY.

 

e.                                       This Agreement,
the Standby Equity Distribution Agreement, the Escrow Agreement, and the
Placement Agent Agreement constitute the entire agreement among the parties
hereto with respect to the subject matter hereof and thereof.  There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein
and therein.  This Agreement, the Standby
Equity Distribution Agreement, the Escrow Agreement, and the Placement Agent
Agreement supersede all prior agreements and understandings among the parties
hereto with respect to the subject matter hereof and thereof.

 

f.                                         This Agreement
shall inure to the benefit of and be binding upon the permitted successors and
assigns of each of the parties hereto.

 

g.                                      The headings in
this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof.

 

h.                                      This Agreement
may be executed in identical counterparts, each of which shall be deemed an
original but all of which shall constitute one and the same agreement.  This Agreement, once executed by a party, may
be delivered to the other party hereto by facsimile transmission of a copy of
this Agreement bearing the signature of the party so delivering this Agreement.

 

i.                                          Each party
shall do and perform, or cause to be done and performed, all such further acts
and things, and shall execute and deliver all such other agreements, certificates,
instruments and documents, as the other party may reasonably request in order
to carry out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby.

 

j.                                          The language
used in this Agreement will be deemed to be the language chosen by the parties
to express their mutual intent and no rules of strict construction will be
applied against any party.

 

k.                                       This Agreement
is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any
provision hereof be enforced by, any other Person.

 

11

 

IN
WITNESS WHEREOF, the parties have caused this Registration
Rights Agreement to be duly executed as of day and year first above written.

 

	
   

  	
  COMPANY:

  
	
   

  	
  SPHERIX
  INCORPORATED

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Richard C. Levin

  
	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  INVESTOR:

  
	
   

  	
  CORNELL
  CAPITAL PARTNERS, LP

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Yorkville
  Advisors, LLC

  
	
   

  	
  Its:

  	
  General
  Partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Mark Angelo

  
	
   

  	
  Title:

  	
  Portfolio
  Manager

  
					

 

12

 

EXHIBIT A

FORM OF NOTICE OF
EFFECTIVENESS

OF REGISTRATION STATEMENT

 

Attention:

 

Re:                               SPHERIX INCORPORATED

 

Ladies
and Gentlemen:

 

We are counsel to Spherix Incorporated (the “Company”),
and have represented the Company in connection with that certain Standby Equity
Distribution Agreement (the “Standby Equity Distribution Agreement”)
entered into by and between the Company and Cornell Capital Partners, LP (the “Investor”)
pursuant to which the Company issued to the Investor shares of its Common
Stock, par value $0.005 per share (the “Common Stock”).  Pursuant to the Standby Equity Distribution
Agreement, the Company also has entered into a Registration Rights Agreement
with the Investor (the “Registration Rights Agreement”) pursuant to
which the Company agreed, among other things, to register the Registrable
Securities (as defined in the Registration Rights Agreement) under the
Securities Act of 1933, as amended (the “Securities Act”).  In connection with the Company’s obligations
under the Registration Rights Agreement, on                            
           , the Company
filed a Registration Statement on Form                
(File No. 333-                        )
(the “Registration Statement”) with the Securities and Exchange
Commission (the “SEC”) relating to the Registrable Securities which
names the Investor as a selling stockholder thereunder.

 

In connection with the foregoing, we advise you that a
member of the SEC’s staff has advised us by telephone that the SEC has entered
an order declaring the Registration Statement effective under the Securities
Act at [ENTER TIME OF EFFECTIVENESS]
on [ENTER DATE OF EFFECTIVENESS]
and we have no knowledge, after telephonic inquiry of a member of the SEC’s
staff, that any stop order suspending its effectiveness has been issued or that
any proceedings for that purpose are pending before, or threatened by, the SEC
and the Registrable Securities are available for resale under the Securities
Act pursuant to the Registration Statement.

 

	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  

 

cc:                       Cornell Capital Partners, LP

 

13Exhibit 10.1

 

VOTING AGREEMENT

 

This VOTING
AGREEMENT, dated as of July 21,
2005 (the “Agreement”),
is by and among ADC Telecommunications, Inc.,
a Minnesota corporation (“Parent”),
and each Shareholder of Fiber Optic
Network Solutions Corp., a Massachusetts corporation (the “Company”), whose signature is set
forth on the signature pages to this Agreement (each a “Shareholder” and, collectively, the “Shareholders”).  Capitalized terms which are used but not
defined herein shall have the meanings ascribed to them in the Merger Agreement
(as defined below).

 

WITNESSETH:

 

WHEREAS,
concurrently with the execution and delivery of this Agreement, Parent and the
Company are entering into an Agreement and Plan of Merger, dated July 21,
2005 (the “Merger Agreement”),
which provides for Falcon Venture Corp., a Massachusetts corporation and a
wholly owned subsidiary of Parent (“Merger
Sub”), to be merged with and into the Company in accordance with
the Massachusetts Business Corporation Act and the terms of the Merger Agreement,
as a result of which the Company will be the surviving corporation and will be
a wholly owned subsidiary of Parent (the “Merger”);

 

WHEREAS, the
execution of this Agreement by the Shareholders is a condition to Parent’s
willingness to enter into the Merger Agreement on the terms contained therein;

 

WHEREAS, the
Shareholders own in the aggregate over 66.67% of the Company Capital Stock
issued and outstanding; and

 

WHEREAS, the
Shareholders desire that the Company and Parent consummate the Merger contemplated
by the Merger Agreement and are willing to enter into this Agreement to induce
Parent to enter into the Merger Agreement.

 

NOW, THEREFORE, in
consideration of the premises and of the mutual covenants and agreements set
forth herein, the parties hereto, intending to be legally bound, agree as
follows:

 

1.                                       Agreement
to Vote, Not to Tender.  At such time
as the Company convenes a meeting of, solicits written consents from or
otherwise seeks a vote of, the Company’s shareholders for the purpose of considering
and approving the Merger and the other transactions contemplated by the Merger
Agreement, each of the Shareholders hereby agrees to vote all shares of Company
Capital Stock owned by such Shareholder (whether held directly or beneficially)
in favor of the Merger and the other transactions contemplated by the Merger
Agreement and all other actions necessary or desirable for the consummation of
the Merger.  In addition, during the term
hereof, each of the Shareholders further agrees to vote all such shares against
any other transaction presented to the shareholders of the Company that could
have the effect of impeding the ability of Parent and the Company to consummate
the Merger.  Furthermore, each
Shareholder agrees not to tender, sell or otherwise transfer such Shareholder’s
shares of Company Capital Stock to any third party.

 

 

2.                                       IRREVOCABLE
PROXY.  EACH SHAREHOLDER HEREBY
GRANTS TO AND APPOINTS MERGER SUB AND THE GENERAL COUNSEL OF PARENT OR HIS
DESIGNEE, AND EACH OF THEM INDIVIDUALLY, THE SHAREHOLDER’S PROXY AND
ATTORNEY-IN-FACT (WITH FULL POWER OF SUBSTITUTION) TO VOTE OR ACT BY WRITTEN
CONSENT WITH RESPECT TO THE SHAREHOLDER’S SHARES OF COMPANY CAPITAL STOCK IN
ACCORDANCE WITH SECTION 1 HEREOF. 
THIS PROXY IS COUPLED WITH AN INTEREST AND SHALL BE IRREVOCABLE UNTIL
THIS AGREEMENT IS TERMINATED PURSUANT TO SECTION 9 HEREOF, AND THE
SHAREHOLDER WILL TAKE SUCH FURTHER ACTION OR EXECUTE SUCH OTHER INSTRUMENTS AS MAY BE
NECESSARY TO EFFECTUATE THE INTENT OF THIS PROXY AND HEREBY REVOKES ANY PROXY
PREVIOUSLY GRANTED BY IT WITH RESPECT TO THE SHAREHOLDER’S SHARES OF COMPANY
CAPITAL STOCK.

 

3.                                       Limitation.  Each Shareholder shall retain at all times
the right to vote such Shareholder’s shares of Company Capital Stock in that
Shareholder’s sole discretion on all matters, other than those set forth in Section 1,
that are at any time or from time to time presented for consideration by the
Company’s Shareholders generally and the proxy granted pursuant to Section 2
hereof shall be inapplicable in such circumstances.  The proxy granted by the shareholders
pursuant to Section 2 of this Agreement shall terminate on the earlier of (a) the
Effective Time of the Merger, or (b) the termination of the Merger
Agreement in accordance with its terms.

 

4.                                       No
Negotiations.  Prior to termination
of this Agreement pursuant to Section 9 hereof, each Shareholder hereby
covenants and agrees that he, she or it will not, directly or indirectly,
solicit, initiate or encourage submission of any proposal or offer from any
person or entity (including any of its or their officers or employees,
representatives, agents, or affiliates) relating to any liquidation,
dissolution, recapitalization, tender or exchange offer, solicitation of
proxies, merger, consolidation or acquisition or purchase of all or a material
portion of the assets of, or any equity interest in, the Company or any
Subsidiary or other similar transaction or business combination involving the
Company or any Subsidiary (an “Acquisition
Proposal”), or participate in any discussions or negotiations
regarding, or furnish to any other person any information with respect to, or
otherwise cooperate in any way with, or assist or participate in, facilitate or
encourage, any effort or attempt by any other person or entity to do or seek
any of the foregoing, except to extent necessary to fulfill such Shareholder’s
fiduciary duties as an officer or director of the Company.  Each Shareholder shall promptly notify the
Company if any such Acquisition Proposal, or any inquiry from or contact with
any person with respect thereto, is made and shall promptly provide the Company
with such information regarding such Acquisition Proposal, inquiry or contact
as the Company may request.  In addition,
prior to termination of this Agreement pursuant to Section 9 hereof, no
Shareholder shall, directly or indirectly, make or authorize any public
statement, recommendation or solicitation in support of any proposal made by
any person, entity or group (other than Parent) relating to any of the
foregoing.

 

2

 

5.                                       Representations,
Warranties and Covenants of the Shareholders.  The Shareholders severally, but not jointly,
hereby represent and warrant to Parent that:

 

(a)                                  Each
Shareholder has the requisite legal capacity and authority to execute and
deliver this Agreement, to perform the obligations of the Shareholder under
this Agreement and to consummate the transactions contemplated by this
Agreement.  If the Shareholder is not an
individual, it has taken all required actions to authorize the execution,
delivery and performance of this Agreement. 
This Agreement has been duly executed and delivered by such Shareholder
and constitutes a valid and legally binding obligation of such Shareholder
enforceable in accordance with its terms, except to the extent that
enforceability thereof may be limited by bankruptcy and other similar laws and
general principles of equity or public policy;

 

(b)                                 Each
Shareholder’s execution, delivery and performance of this Agreement will not
result in the creation of any Lien upon any of the shares of Company Capital
Stock held by such Shareholder under any of the terms, conditions or provisions
of any contract to which such Shareholder is a party;

 

(c)                                  No
filing or registration with or notification to and no permit, authorization,
consent or approval of, any court, commission, governmental body, regulatory
authority, agency or tribunal wherever located is required to be obtained, made
or given by any Shareholder in connection with the execution, delivery and
performance by any Shareholder of this Agreement; and

 

(d)                                 Schedule 1
to this Agreement correctly sets forth the number of shares of Company Capital
Stock owned by each Shareholder as of the date of this Agreement, all of which
will be voted in favor of approval of the Merger and the other transactions
contemplated by the Merger Agreement. 
Each Shareholder has, and will have as of the Effective Time, good title
to all of the shares of Company Capital Stock set forth below his, her or its
name on the signature page hereto which, as of the Effective Time, will be
free and clear of all liens, security interests and encumbrances or any
restrictions on transfer, other than any restrictions contained in any
Restricted Stock Agreement entered into between the Company and any such
Shareholder prior to the date hereof.

 

(e)                                  Each
Shareholder has the financial capability to make any payment required to be
made by it under this Agreement and covenants that it will maintain assets (or
uncalled capital commitments) with a net value of at least an amount equal to
the amount received by such Shareholder pursuant to the Merger until the later
of four years from the Effective Time or the final resolution of all claims
(except for those of actual fraud) for indemnification under Article IX of
the Merger Agreement.

 

6.                                       Indemnification.

 

(a)                                  Subject
to the limitations of Sections 6(b) hereof, during the period commencing
on the date of the termination of the Escrow Agreement and ending on the
two-year anniversary of the termination of the Escrow Agreement, the
Shareholders shall, jointly and severally, indemnify in full the Parent
Indemnified Parties and hold them harmless from and against any Parent Losses
which the Parent Indemnified Parties may suffer, sustain or become subject to
as a

 

3

 

result of a breach of any of the Extended Reps as contained in, and
defined in, the Merger Agreement or any covenant of the Company set forth in Article V
or Article VI of the Merger Agreement the performance of which may or is
specified to occur after the expiration of such two-year period for which a
clam may be brought through the survival period set forth in Section 9.1
of the Merger Agreement, which survival period shall in no event be more than
four years after the date hereof, and which claims with respect to such Parent
Losses shall have arisen on or after the 18-month anniversary from the date
hereof (collectively, the “Extended Rep
Parent Losses”).

 

(b)                                 After
the termination of the Escrow Agreement, the Shareholders shall be jointly and
severally liable to the Parent Indemnified Parties for any Extended Rep Parent
Loss, and Parent shall be entitled to reimbursement pursuant to the
indemnification terms contained in this Agreement, (i) only if Parent
delivers to Shareholders’ Representative a written notice, pursuant to Section 9.4
and 9.5 of the Merger Agreement, as applicable, with respect to such Parent
Indemnified Party’s Claim to be indemnified for such Parent Losses prior to
expiration of the applicable survival period set forth in Section 9.1 of
the Merger Agreement and (ii) to the extent the aggregate amount of all
Parent Losses exceeds the Basket Amount (including, without limitation, those
incurred prior to the termination of the Escrow Agreement), in which case the
Shareholders shall be obligated to indemnify Parent Indemnified Parties for the
total amount of such Extended Rep Parent Losses in excess of the Basket Amount,
provided, however, that the Basket Amount shall apply only to breaches,
inaccuracies or misrepresentations of representations and warranties other than
those set forth in Sections 3.1, 3.3, 3.4 and 3.12 of the Merger Agreement and
shall not apply to (i) any breaches of any covenants of the Company set
forth in Article V or Article VI of the Merger Agreement or (ii) any
Parent Losses related to any action required to enforce the indemnification
obligations contained in this Agreement. 
Except for actual fraud in connection with any breach or misrepresentation
by the Company, the aggregate liability of the Shareholders for all amounts
under this Section 6(b) shall not exceed an amount equal to the
amount of the difference between the Cap and the amount of the Escrow Account
paid to Parent pursuant to the terms of the Escrow Agreement.

 

(c)                                  Sections 9.4
and 9.5 of the Merger Agreement shall govern the procedures for giving
notice of claims for indemnification and for asserting claims for
indemnification under this Agreement.

 

7.                                       Capacity.  The parties hereby agree that the
Shareholders are executing this Agreement solely in their capacity as
Shareholders of the Company.  Nothing
contained in this Agreement shall limit or otherwise affect the conduct or
exercise of any Shareholder’s fiduciary duties as an officer or director of the
Company.

 

8.                                       Further
Assurances.  Each Shareholder will,
upon the request of Parent, execute and deliver such documents and take such
action reasonably requested by Parent to effectuate the purposes of this
Agreement and to consummate the transactions contemplated by the Merger
Agreement.

 

9.                                       Termination.  Other than as otherwise provided in
Sections 3 and 6 of this Agreement, the obligations of the parties under
this Agreement shall terminate upon the earlier of (a) the Effective Time
and (b) the termination of the Merger Agreement in accordance with its

 

4

 

terms.  In the event this
Agreement is terminated in accordance with the preceding sentence, except as
otherwise provided in Section 6 of this Agreement, this Agreement shall
immediately become void, there shall be no liability under this Agreement on
the part of Parent, its officers or directors, the Shareholders, and all rights
and obligations of the parties to this Agreement shall cease.

 

10.                                 Expenses.  Each party hereto shall pay its own expenses
incurred in connection with this Agreement, except as otherwise specified in
the Merger Agreement.

 

11.                                 Specific
Performance.  The parties hereto
agree that irreparable damage would occur in the event that any of the
provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached. 
It is accordingly agreed that the parties shall be entitled to an
injunction or injunctions to prevent breaches of this Agreement, without the
necessity of proving damages or posting any bond, and to enforce specifically
the terms and provisions hereof in any court of the United States or any state
thereof having jurisdiction, this being in addition to any other remedy to
which they are entitled at law or in equity.

 

12.                                 Notice.  Unless otherwise provided in this Agreement,
all notices and other communications under this Agreement shall be in writing
and may be given by any of the following methods:  (a) personal delivery (with written
confirmation of receipt); (b) registered or certified mail, postage
prepaid (receipt requested); (c) overnight delivery service (receipt
requested); or (d) by facsimile, telecopy or other electronic transmission
device (with receipt acknowledgement, provided that such acknowledgement does
not include an acknowledgement generated automatically by a facsimile, telecopy
or other electronic transmission device). 
Such notices and communications shall be sent to the appropriate party at
its address given below or at such other address for such party as shall be
specified by notice given under this Agreement (and shall be deemed given upon
receipt by such party or upon actual delivery to the appropriate address):

 

(a)                                  if
to a Shareholder:  

 

To the
addresses set forth on Schedule 1 hereto

 

with a copy to:

 

Bowditch & Dewey, LLP

311 Main Street

Worcester, MA 01615

Attn: Michael P. Angelini, Esquire

Fax:  (508)
798-3537

 

5

 

 

(b)                                 if
to Parent:

 

ADC
Telecommunications, Inc.

P.O. Box
1101

Minneapolis,
Minnesota  55440-1101

Attention:
Office of the General Counsel

Fax: (952) 917-0893

 

with a copy to:

 

Dorsey &
Whitney LLP

50
South Sixth Street

Minneapolis,
Minnesota  55402

Attention:  Robert A. Rosenbaum

Fax:  (612)
340-7800

 

13.                                 Parties
in Interest.  This Agreement shall
inure to the benefit of and be binding upon the parties named herein and their
respective successors and assigns. 
Nothing in this Agreement, expressed or implied, is intended to confer
upon any person other than the Shareholders, Parent or Merger Sub, or their
permitted successors or assigns, any rights or remedies under or by reason of
this Agreement.

 

14.                                 Entire
Agreement; Amendments.  This
Agreement, together with the Merger Agreement and the other documents referred
to therein, constitutes the entire agreement between the parties with respect
to the subject matter hereof and supersedes all prior and contemporaneous
agreements and understandings, both written or oral, between the parties with
respect to the subject matter hereof. 
This Agreement may not be changed, amended or modified orally, but only
by an agreement in writing signed by the party against whom any waiver, change,
amendment, modification or discharge may be sought.

 

15.                                 Assignment.  No party to this Agreement may assign any of
its rights or delegate any of its obligations under this Agreement (whether by
operation of law or otherwise) without the prior written consent of the other
party hereto.

 

16.                                 Interpretation.
 The language used in this Agreement
shall be deemed to be the language chosen by the parties to express their
mutual intent, and no rule of strict construction shall be applied against
any party.  The headings of articles and
sections herein are for convenience of reference, do not constitute a part of
this Agreement, and shall not be deemed to limit or affect any of the
provisions hereof.

 

17.                                 Counterparts.  This Agreement may be executed via facsimile
in two or more counterparts, each of which, when executed, shall be deemed to
be an original and all of which together shall constitute one and the same
document.

 

18.                                 Governing
Law.  This Agreement shall be
governed by and construed in accordance with the laws of the Commonwealth of
Massachusetts, without giving effect to the principles of conflicts of laws
thereof.

 

6

 

19.                                 Validity.  The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provisions of this Agreement, which shall remain in full force and
effect.  Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the
parties shall negotiate in good faith to modify this Agreement so as to effect
the original intent of the parties as closely as possible in an acceptable
manner to the end that transactions contemplated hereby are fulfilled to the
extent possible.

 

20.                                 Shareholders’
Representative.  Each of the
undersigned Shareholders acknowledges the appointment of Michael J. Noonan as
the Shareholders’ Representative in accordance with the Merger and the Merger
Agreement.

 

[Remainder
of page left blank; signature page follows]

 

7

 

IN WITNESS WHEREOF,
the parties hereto have caused this Voting Agreement to be executed as of the
day and year first written above.

 

	
  ADC
  TELECOMMUNICATIONS, INC.

  	
  SHAREHOLDERS:

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
    /s/ Gokul
  V. Hemmady

  	
   

  	
    /s/ Michael
  J. Noonan

  
	
  Name: Gokul V.
  Hemmady

  	
  Michael J.
  Noonan

  
	
  Title: Vice
  President, Chief Financial Officer

  	
   

  
	
   

  	
  FIBER
  OPTIC NETWORK SOLUTIONS

  CORP. VOTING TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Michael
  P. Angelini

  
	
   

  	
   

  	
  Michael P.
  Angelini, Trustee of the

  aforesaid Trust and not individually

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Michael
  J. Noonan

  
	
   

  	
   

  	
  Michael J.
  Noonan, Trustee of the aforesaid

  Trust and not individually

  
	
   

  	
   

  
	
   

  	
  OAK
  INVESTMENT PARTNERS IX,

  LIMITED PARTNERSHIP

  
	
   

  	
   

  
	
   

  	
  By: Oak
  Associates IX, LLC, its Partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  Edward F. Glassmeyer

  
	
   

  	
  Name:

  	
  Edward F.
  Glassmeyer

  
	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  
	
   

  	
  OAK
  IX AFFILIATES FUND, LIMITED

  PARTNERSHIP

  
	
   

  	
   

  
	
   

  	
  By: Oak
  Associates IX, LLC, its Partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  Edward F. Glassmeyer

  
	
   

  	
  Name:

  	
  Edward F.
  Glassmeyer

  
	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  
	
   

  	
  OAK
  IX AFFILIATES FUND-A, LIMITED

  PARTNERSHIP

  
	
   

  	
   

  
	
   

  	
  By: Oak
  Associates IX, LLC, its Partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  Edward F. Glassmeyer

  
	
   

  	
  Name:

  	
  Edward F.
  Glassmeyer

  
	
   

  	
  Title:

  	
  Managing Member

  
						

 

 

	
   

  	
  MORGENTHALER
  PARTNERS VI, L.P.

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Morgenthaler
  Management Partners VI,

  
	
   

  	
   

  	
  LLC, its General
  Partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  R.D. Davey

  
	
   

  	
  Name:

  	
  R.D. Davey

  
	
   

  	
  Title:

  	
  Managing Member

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