Document:

Exhibit 10.2

    
      

    

    Exhibit
      10.2

     

    REGISTRATION
      RIGHTS AGREEMENT

    

    REGISTRATION
      RIGHTS AGREEMENT (this “Agreement”),
      dated
      February 6, 2006 between IMPART MEDIA GROUP, INC. (formerly known as Limelight
      Media Group, Inc.), a Nevada corporation (the “Company”),
      and
      MARLIN CAPITAL PARTNERS II, LLC, a Florida limited liability company (doing
      business as “InTransit Media”) (“Marlin
      Capital Partners II”).

    

    W
      I T N E S S E T H:

    

    WHEREAS,
      pursuant to the terms of an Asset Purchase Agreement dated as of
      February 6, 2006 (the “Purchase
      Agreement”)
      between the Company and Marlin Capital Partners II, on the date hereof, the
      Company has agreed to issue to Marlin Capital Partners II such number of shares
      of common stock, $.001 par value, of the Company (the “Common
      Stock”)
      as
      determined pursuant to the Purchase Agreement; and

    

    WHEREAS,
      as a
      condition precedent to the consummation of the transactions contemplated by
      the
      Purchase Agreement, the Company has agreed to provide certain registration
      rights pursuant to the terms of this Agreement; 

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants and obligations hereinafter set forth,
      the
      parties hereto, intending to be legally bound, hereby agree as
      follows:

    

    1.    Definitions.
      For
      purposes of this Agreement, capitalized terms used herein shall have the
      meanings set forth in the preambles hereto and in this Section 1.

     

    1.1
    “Additional
      Shares”
shall
      have the meaning assigned in Section 2.2.

     

    1.2
    “Commission”
shall
      mean the Securities and Exchange Commission or any other federal agency at
      the
      time administering the Securities Act.

     

    1.3
    “Common
      Stock”
shall
      mean the common stock, par value $.001 per share, of the Company or, in the
      case
      of a conversion, reclassification or exchange of such shares of such Common
      Stock, shares of the stock issued or issuable in respect of such shares of
      Common Stock, and all provisions of this Agreement shall be applied
      appropriately thereto and to any stock resulting therefrom.

     

    1.4
    “Demand
      Date”
shall
      have the meaning assigned in Section 2.1 and shall include the First Demand
      Date
      or a Subsequent Demand Date, as the context may require.

     

    1.5
    “Exchange
      Act”
shall
      mean the Securities Exchange Act of 1934, as amended, or any similar federal
      statute enacted hereafter, and the rules and regulations of the Commission
      thereunder, all as the same shall be in effect from time to time.

     

    1.6
    “First
      Demand Date”
shall
      have the meaning assigned in Section 2.1.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.7
    “First
      Registrable Securities”
shall
      mean the Registrable Securities being delivered to Marlin Capital Partners
      II on
      the date hereof.

     

    1.8
    “Form
      S-3”
shall
      mean such form under the Securities Act as in effect on the date hereof or
      any
      registration form under the Securities Act subsequently adopted by the
      Commission which permits inclusion or incorporation of substantial information
      by reference to other documents filed by the Company with the
      Commission.

     

    1.9
    “Form
      S-3 Initiating Holders”
shall
      have the meaning assigned in Section 4.1.

     

    1.10   “Holder”
shall
      mean any holder of Registrable Securities.

     

    1.11   “Indemnified
      Party”
shall
      have the meaning assigned in Section 7.3.

     

    1.12   “Indemnifying
      Party”
shall
      have the meaning assigned in Section 7.3.

     

    1.13   “Initiating
      Holders”
shall
      mean Holders representing (on a fully diluted basis) at least fifty-one percent
      (51%) of the total number of First Registrable Securities or Subsequent
      Registrable Securities, as the case may be.

     

    1.14   “Person”
shall
      mean any individual, firm, corporation, partnership, trust, incorporated or
      unincorporated association, joint venture, joint stock company, government
      (or
      an agency or political subdivision thereof) or other entity of any
      kind.

     

    1.15   “Other
      Stockholders”
shall
      have the meaning assigned in Section 2.2.

     

    1.16   “Register”,
      “registered”
and
      “registration”
shall
      refer to a registration effected by preparing and filing a registration
      statement with the Commission in compliance with the Securities Act and
      applicable rules and regulations thereunder, and the declaration or ordering
      of
      the effectiveness of such registration statement by the Commission.

     

    1.17   “Registrable
      Securities”
shall
      mean (A) the shares of Common Stock issued to Marlin Capital Partners II
      pursuant to the Purchase Agreement, including the First Registrable Securities
      and the Subsequent Registrable Securities, and (B) any stock of the Company
      issued as a dividend or other distribution with respect to, or in exchange
      for
      or in replacement of, the shares of Common Stock referred to in clause (A);
      provided,
      however,
      that
      such shares of Common Stock shall only be treated as Registrable Securities
      hereunder if and so long as they have not been sold in a registered public
      offering or have not been sold to the public pursuant to Rule 144 under the
      Securities Act or any similar or successor rule.

     

    1.18   “Registration
      Expenses”
shall
      mean all expenses incurred by the Company in compliance herewith, including,
      without limitation, all registration and filing fees, printing expenses, fees
      and disbursements of counsel for the Company, blue sky fees and expenses, the
      reasonable fees and expenses (subject to documentation thereof) of one counsel
      for all Holders and Other Stockholders, and the expense of any special audits
      incident to or required by any such registration (but excluding the compensation
      of regular employees of the Company, which shall be paid in any event by the
      Company).

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.19   “Securities
      Act”
shall
      mean the Securities Act of 1933, as amended, or any similar federal statute
      enacted hereafter, and the rules and regulations of the Commission thereunder,
      all as the same shall be in effect from time to time.

     

    1.20   “Selling
      Expenses”
shall
      mean all underwriting discounts and commissions applicable to the sale of
      Registrable Securities.

     

    1.21   “Subsequent
      Demand Date”
shall
      have the meaning assigned in Section 2.1.

     

    1.22   “Subsequent
      Registrable Securities”
shall
      mean Registrable Securities delivered to Marlin Capital Partners II on any
      date
      subsequent to the date hereof.

     

    2.    Requested
      Registration.

     

    2.1    
Request
      for Registration.
      If, at
      any time after February 5, 2007 (such date being hereinafter referred to as
      the
“First
      Demand Date”),
      the
      Company shall receive from Initiating Holders holding First Registrable
      Securities a written request that the Company effect any registration with
      respect to the First Registrable Securities, the provisions set forth below
      shall be applicable. In addition, in the event that Subsequent Registrable
      Securities are issued by the Company and on a date that is not less than one
      year after such issuance (a “Subsequent Demand Date” and together with the First
      Demand Date, a “Demand Date”), the Company shall receive from Initiating Holders
      holding Subsequent Registrable Securities a written request that the Company
      effect any registration with respect to Subsequent Registrable Securities,
      then
      the provisions set forth below shall also be applicable. In each of the
      foregoing events, the Company will:

     

    (a)    promptly
      give written notice of the proposed registration to all other Holders of the
      First Registrable Securities or Subsequent Registrable Securities, as the case
      may be; and

     

    (b)    as
      soon
      as practicable, use all reasonable efforts to effect such registration
      (including, without limitation, the execution of an undertaking to file post
      effective amendments, appropriate qualification under the blue sky or other
      state securities laws requested by such Initiating Holders and appropriate
      compliance with applicable regulations issued under the Securities Act) as
      may
      be so requested and as would permit or facilitate the sale and distribution
      of
      all or such portion of such Registrable Securities as are specified in such
      request, together with all or such portion of such Registrable Securities of
      any
      Holder or Holders joining in such request as are specified in a written request
      given within thirty (30) days after receipt of such written notice from the
      Company; provided that
      the
      Company shall not be obligated to effect, or to take any action to effect,
      any
      such registration pursuant to this Section 2:

     

    (i)     
      in
      any
      particular jurisdiction in which the Company would be required to execute a
      general consent to service of process in effecting such registration,
      qualification or compliance, unless the Company is already subject to service
      in
      such jurisdiction and except as may be required by the Securities Act or
      applicable rules or regulations thereunder;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (ii)    
less
      than
      ninety (90) calendar days after the effective date of any registration declared
      or ordered effective other than a registration on Form S-3 or Form S 8;

     

    (iii)    if,
      while
      a registration request is pending pursuant to this Section 2, the Company
      determines, in the good faith judgment of the Board of Directors of the Company,
      with the advice of counsel, that the filing of a registration statement would
      require the disclosure of non-public material information the disclosure of
      which would have a material adverse effect on the Company or would otherwise
      materially adversely affect a financing, acquisition, disposition, merger or
      other significant transaction, in which event the Company shall deliver a
      certificate to such effect signed by its President to the proposed selling
      Holders and the Company shall not be required to effect a registration pursuant
      to this Section 2 until the earlier of (A) three (3) days after the date upon
      which such material information is disclosed to the public or ceases to be
      material, or (B) ninety (90) days after the Company makes such good faith
      determination; provided, however, that the Company shall not utilize the right
      under this Section 2.1(a)(iii) more than once in any twelve (12) month period;
      or

     

    (iv)   except
      as
      set forth in Section 2.5, after the second registration of such Registrable
      Securities pursuant to this Section 2.1 has been declared or ordered
      effective.

     

    Subject
      to the foregoing clauses (i), (ii), (iii) and (iv), the Company shall file
      a
      registration statement covering such Registrable Securities so requested to
      be
      registered as soon as practicable after receipt of the request or requests
      of
      such Initiating Holders.

    

    2.2    Additional
      Shares to be Included.
      

     

    (a)    The
      registration statement filed pursuant to the request of the Initiating Holders
      may, subject to the provisions of Sections 2.4 and 3.3 below, include (i) other
      securities of the Company (the "Additional
      Shares")
      which
      are held by (x) officers or directors of the Company who, by virtue of
      agreements with the Company, are entitled to include their securities in any
      such registration, or (y) other persons who, by virtue of agreements with the
      Company, are entitled to include their securities in any such registration
      (the
      "Other
      Stockholders"),
      and
      (ii) securities of the Company being sold for the account of the
      Company.

     

    (b)    If
      at any
      time when Initiating Holders holding First Registrable Securities or Subsequent
      Registrable Securities are entitled to make a request for registration under
      Section 2.1, additional Registrable Securities shall have been issued but the
      one-year period provided in Section 2.1 shall not yet have elapsed with respect
      thereto, the Holders of such additional Registrable Securities shall
      nevertheless have the right to have such additional Registrable Securities
      included in the registration being requested by such Initiating Holders and
      the
      Company shall take all appropriate actions to that end.

     

    2.3    Underwriting.
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (a)    If
      the
      Initiating Holders intend to distribute the Registrable Securities covered
      by
      their request by means of an underwriting, they shall so advise the Company
      as a
      part of their request made pursuant to this Section 2 and the Company shall
      include such information in the written notice to other Holders referred to
      in
      Section 2.1 above. The right of any Holder to registration pursuant to this
      Section 2 shall be conditioned upon such Holder's participation in such
      underwriting and the inclusion of such Holder's Registrable Securities in the
      underwriting to the extent provided herein and subject to the limitations
      provided herein. A Holder may elect to include in such underwriting all or
      a
      part of the Registrable Securities he holds.

     

    (b)    The
      Company shall (together with all Holders, officers, directors and Other
      Stockholders proposing to distribute their securities through such underwriting)
      negotiate and enter into an underwriting agreement in customary form with the
      representative of the underwriter or underwriters selected for such underwriting
      by a majority in interest of the Initiating Holders, which underwriter(s) shall
      be reasonably acceptable to the Company. 

     

    2.4    Limitations
      on Shares to be Included.
      Notwithstanding any other provision of this Section 2, if the representative
      of
      the underwriters advises the Initiating Holders in writing that marketing
      factors require a limitation on the number of shares to be underwritten, first
      the Additional Shares and any securities being sold for the account of the
      Company shall be excluded from such registration pursuant to the priorities
      set
      forth in Section 3.3 of this Agreement and, if a limitation on the number of
      shares is still required, the number of shares that may be included in the
      registration and underwriting shall be allocated among all Holders, including
      Initiating Holders, in proportion, as nearly practicable, to the respective
      amounts of Registrable Securities which they have requested to be included
      in
      such registration statement. If the Company or any Holder, officer, director
      or
      Other Stockholder who has requested inclusion in such registration as provided
      above disapproves of the terms of any such underwriting, such Person may elect
      to withdraw such Person's Registrable Securities or Additional Shares therefrom
      by written notice to the Company and the underwriter and the Initiating Holders.
      Any Registrable Securities or other securities excluded shall also be withdrawn
      from such registration. No Registrable Securities or Additional Shares excluded
      from such registration by reason of such underwriters’ marketing limitation
      shall be included in such registration. To facilitate the allocation of shares
      in accordance with this Section 2.4, the Company or underwriter or underwriters
      selected as provided above may round the number of Registrable Securities of
      any
      Holder which may be included in such registration to the nearest 100
      shares.

     

    2.5   Additional
      Demand Registration.
      If with
      respect to the last registration permitted to be exercised by the Holders of
      Registrable Securities under Section 2.1, the Holders are unable to register
      all
      of their Registrable Securities because of the operation of Section 2.4 hereof,
      such Holders shall be entitled to require the Company to effect one additional
      registration to afford the Holders an opportunity to register all such
      Registrable Securities. Such additional registration shall again be subject
      to
      the provisions of this Section 2.

     

    3.    Company
      Registration.

     

    3.1    If
      the
      Company shall determine to register under the Securities Act any of its equity
      securities or securities convertible into equity securities either for its
      own
      account or the account of a security holder or holders exercising any demand
      registration rights, other than a registration relating solely to employee
      benefit plans, or a registration relating solely to a Commission Rule 145
      transaction, or a registration on Form S-4 or S-8 (or any successor forms
      thereto), the Company will:

     

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    (a)    promptly
      give to each Holder, including any Holders of additional Registrable Securities
      referenced in Section 2.2(b), written notice thereof (which shall include a
      list
      of the jurisdictions in which the Company intends to attempt to qualify such
      securities under the applicable blue sky or other state securities laws);
      and

     

    (b)    include
      in such registration (and, subject to Section 2.1(b)(i), any related
      qualification under blue sky laws or other compliance), and in any underwriting
      involved therein, all the Registrable Securities specified in a written request
      or request, made by any Holder within thirty (30) days after receipt of the
      written notice from the Company described in clause (a) above, except as set
      forth in Section 3.3 below. Such written request may specify all or a part
      of a
      Holder’s Registrable Securities.

     

    3.2    Underwriting.
      If the
      registration of which the Company gives notice is for a registered public
      offering involving an underwriting, the Company shall so advise the Holders
      as a
      part of the written notice given pursuant to Section 3.1(a). The right of any
      Holder to registration pursuant to this Section 3 shall be conditioned upon
      such
      Holder’s participation in such underwriting and the inclusion of such Holder’s
      Registrable Securities in the underwriting to the extent provided herein. All
      Holders proposing to distribute their securities through such underwriting
      shall
      (together with the Company and any officers, directors or Other Stockholders
      distributing their securities through such underwriting) enter into an
      underwriting agreement in customary form with the representative of the
      underwriter or underwriters selected by the Company.

     

    3.3    Limitations
      on Shares to be Included.
      Notwithstanding any other provision of this Section 3, if the representative
      of
      the underwriters advises the Company in writing that marketing factors require
      a
      limitation or elimination on the number of shares to be underwritten, the
      representative may (subject to the allocation priority set forth below) limit
      the number of or eliminate the Registrable Securities to be included in the
      registration and underwriting. The Company shall so advise all holders of
      securities requesting registration, and the number of shares of securities
      that
      are entitled to be included in the registration and underwriting shall be
      allocated as follows: first, if such underwritten offering shall have been
      initiated by the Company for the sale of securities for its own account, to
      the
      Company for securities being sold for its own account; second, among the Holders
      and the Other Stockholders, in proportion, as nearly as practicable, to the
      respective amounts of Registrable Securities which they requested to be included
      in such registration; and thereafter, the number of shares that may be included
      in the registration statement and underwriting shall be allocated among all
      officers or directors, in each case in proportion, as nearly as practicable,
      to
      the respective amounts of Additional Shares which they requested to be included
      in such registration at the time of filing the registration statement. If any
      Holder of Registrable Securities or any officer, director or Other Stockholder
      disapproves of the terms of any such underwriting, he may elect to withdraw
      therefrom by written notice to the Company and the underwriter. Any Registrable
      Securities or other securities excluded or withdrawn from such underwriting
      shall also be withdrawn from such registration. The Company shall have the
      right
      to terminate or withdraw any registration initiated by it under this Section
      3
      prior to the effectiveness of such registration whether or not any Holder has
      elected to include securities in such registration.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.    Registrations
      on Form S-3.
      

     

    4.1    Anything
      contained in Section 2 to the contrary notwithstanding, at any time after the
      Demand Date and if the Company is then qualified for the use of Form S-3, the
      Holders, including any Holder of additional Registrable Securities referenced
      in
      Section 2.2(b), representing (on a fully diluted basis) at least twenty percent
      (20%) of the total number of Registrable Securities (the “Form
      S-3 Initiating Holders”)
      shall
      have the right to request in writing unlimited registrations of Registrable
      Securities on Form S-3, which request or requests shall (i) specify the number
      of Registrable Securities intended to be sold or disposed of and the holders
      thereof and (ii) state the intended method of disposition of such Registrable
      Securities, and upon receipt of any such request, the Company shall use all
      reasonable efforts promptly to effect the registration under the Securities
      Act
      of the Registrable Securities so requested to be registered. A requested
      registration on Form S-3 in compliance with this Section 4 shall not count
      as a
      registration statement initiated pursuant to Section 2 for purposes of
      determining the number of registrations which may be requested by the Initiating
      Holders under such Section, but shall otherwise be treated as a registration
      initiated pursuant to, and shall be subject to, the provisions of Section
      2.

     

    4.2    Anything
      contained in Section 4.1 to the contrary notwithstanding, the Company shall
      not
      be obligated to effect, or take any action to effect, any registration under
      the
      Securities Act pursuant to Section 4.1:

     

    (a)    Unless
      the Form S-3 Initiating Holders propose to dispose of shares of Registrable
      Securities having an aggregate price to the public (before deduction of Selling
      Expenses) of more than $7,500,000;

     

    (b)    Within
      one hundred eighty (180) days of the effective date of the most recent
      registration pursuant to this Section 4 in which securities held by the
      requesting Holder could have been included for sale or
      distribution;

     

    (c)    In
      any
      particular jurisdiction in which the Company would be required to execute a
      general consent to service of process in effecting such registration,
      qualification or compliance, unless the Company is already subject to service
      in
      such jurisdiction and except as may be required by the Securities Act or
      applicable rules or regulations thereunder;

     

    (d)    If
      the
      Company shall furnish to the Form S-3 Initiating Holders a certificate signed
      by
      the President of the Company stating that the Company intends in good faith
      to
      file within ninety (90) days after the date of such notice a registration
      statement pertaining to securities of the Company and in which the Form S-3
      Initiating Holders may request inclusion of Registrable Securities pursuant
      to
      Section 3, then, during the period starting with the date of such notice and
      ending on the date six (6) months immediately following the effective date
      of
      such registration statement, provided that
      the
      Company actively employs in good faith all reasonable efforts to cause such
      registration statement to become effective; provided,
      however,
      that
      the Company may only delay an offering pursuant to this Section 4.2(d) for
      a
      period of not more than ninety (90) days, if a filing of any other registration
      statement is not made within that period and the Company may only exercise
      the
      right specified in this clause (d) once in any twelve (12) month period;
      or

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (e)    If
      the
      Company determines, in the good faith judgment of the Board of Directors of
      the
      Company, with the advice of counsel, that the filing of a registration statement
      would require the disclosure of non-public material information the disclosure
      of which would have a material adverse effect on the Company or would otherwise
      materially adversely affect a financing, acquisition, disposition, merger or
      other significant transaction, in which event the Company shall deliver a
      certificate to such effect signed by its President to the Form S-3 Initiating
      Holders and the Company shall not be required to effect a registration under
      this Section 4 until the earlier of (A) three (3) days after the date upon
      which
      such material information is disclosed to the public or ceases to be material,
      or (B) ninety (90) days after the Company makes such good faith determination;
      provided,
      however,
      that
      the Company shall not utilize the right under this Section 4.2(e) more than
      once
      in any twelve (12) month period.

     

    4.3    Notwithstanding
      the registration rights granted to Holders in Sections 2, 3, and 4 hereof,
      a
      Holder shall not be entitled to include its Registrable Securities in any
      registration statement to be filed with respect to the resale of Common Stock
      issuable upon exercise of the Common Stock Purchase Warrant issued by the
      Company to Laurus Master Funds, Ltd. on January 27, 2006.

     

    5.    Expenses
      of Registration.
      All
      Registration Expenses incurred in connection with any registration,
      qualification or compliance pursuant to Sections 2, 3 or 4 of this Agreement
      shall be borne by the Company, except that Selling Expenses shall be borne
      pro
      rata by each Holder in accordance with the number of shares sold.

     

    6.    Registration
      Procedures.
      

     

    6.1    In
      the
      case of each registration effected by the Company pursuant to this Agreement,
      the Company will keep each Holder advised in writing as to the initiation of
      each registration and as to the completion thereof and will, at its
      expense:

     

    (a)    Use
      all
      reasonable efforts to keep such registration effective for a period of one
      hundred eighty (180) days or until the Holder or Holders have completed the
      distribution described in the registration statement relating thereto, whichever
      first occurs; provided,
      however,
      that
      the Company will keep such registration effective for longer than one hundred
      eighty (180) days if the costs and expenses associated with such extended
      registration are borne by the selling Holders; and provided,
      further,
      that in
      the case of any registration of Registrable Securities on Form S-3 which are
      intended to be offered on a continuous or delayed basis, such one hundred eighty
      (180) day period shall, at the cost and expense of the Company, be extended,
      if
      necessary, to keep the registration statement effective until all such
      Registrable Securities are sold, provided that
      Rule
      415, or any successor rule under the Securities Act, permits an offering on
      a
      continuous or delayed basis, and provided,
      further,
      that
      applicable rules and regulations under the Securities Act governing the
      obligation to file a post effective amendment permit, in lieu of filing a post
      effective amendment which (y) includes any prospectus required by Section
      10(a)(3) of the Securities Act, or (z) reflects facts or events representing
      a
      material or fundamental change in the information set forth in the registration
      statement, the incorporation by reference of information otherwise required
      to
      be included in such post effective amendment covered by (y) and (z) above to
      be
      contained in periodic reports filed pursuant to Section 13 or 15(d) of the
      Exchange Act in the registration statement;

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b)    Prepare
      and file with the Commission such amendments and supplements to such
      registration statement and the prospectus used in connection with such
      registration statement as may be necessary to comply with the provisions of
      the
      Securities Act with respect to the disposition of all securities covered by
      such
      registration statement;

     

    (c)    Furnish
      such number of prospectuses and other documents incident thereto, including
      any
      amendment of or supplement to the prospectus, as a Holder from time to time
      may
      reasonably request;

     

    (d)    Notify
      each seller of Registrable Securities covered by such registration statement
      at
      any time when a prospectus relating thereto is required to be delivered under
      the Securities Act of the happening of any event as a result of which the
      prospectus included in such registration statement, as then in effect, includes
      an untrue statement of a material fact or omits to state a material fact
      required to be stated therein or necessary to make the statements therein not
      misleading or incomplete in the light of the circumstances then existing, and
      at
      the request of any such seller, prepare and furnish to such seller a reasonable
      number of copies of a supplement to or an amendment of such prospectus as may
      be
      necessary so that, as thereafter delivered to the purchasers of such shares,
      such prospectus shall not include an 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 not misleading or incomplete in the light of the
      circumstances then existing;

     

    (e)    List
      all
      such Registrable Securities registered in such registration on each securities
      exchange or automated quotation system on which the Common Stock of the Company
      is then listed;

     

    (f)
    Provide
      a
      transfer agent and registrar for all Registrable Securities and a CUSIP number
      for all such Registrable Securities, in each case not later than the effective
      date of such registration;

     

    (g)    Make
      available for inspection by any seller of Registrable Securities, any
      underwriter participating in any disposition pursuant to such registration
      statement, and any attorney or accountant retained by any such seller or
      underwriter, all financial and other records, pertinent corporate documents
      and
      properties of the Company, and cause the Company's officers and directors to
      supply all information reasonably requested by any such seller, underwriter,
      attorney or accountant in connection with such registration
      statement;

     

    (h)    Furnish
      to each selling Holder upon request a signed counterpart, addressed to each
      such
      selling Holder, of:

     

    (i)    
an
      opinion
      of counsel for the Company, dated the effective date of the registration
      statement in form reasonably acceptable to the Company and such counsel,
      and

     

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    (ii)
          “comfort”
      letters signed by the Company’s independent public accountants who have examined
      and reported on the Company’s financial statements included in the registration
      statement, to the extent permitted by the standards of the American Institute
      of
      Certified Public Accountants, covering such matters as are customarily covered
      in opinions of issuer's counsel and accountants’ “comfort” letters delivered to
      underwriters in underwritten public offerings of securities;

     

    (i)    
Furnish
      to each selling Holder upon request a copy of all documents filed with and
      all
      correspondence from or to the Commission in connection with any such offering;
      and

     

    (j)
    Make
      available to its security holders, as soon as reasonably practicable, an
      earnings statement covering the period of at least twelve (12) months, but
      not
      more than eighteen (18) months, beginning with the first month after the
      effective date of the registration statement, which earnings statement shall
      satisfy the provisions of Section 11(a) of the Securities Act.

     

    6.2    It
      shall
      be a condition precedent to the obligations of the Company to take any action
      pursuant to this Agreement that the Holders proposing to register Registrable
      Securities shall furnish to the Company such information regarding themselves,
      the Registrable Securities held by them, and their intended method of
      distribution of such Registrable Securities as the Company shall reasonably
      request and as shall be required in connection with the action to be taken
      by
      the Company.

     

    6.3    In
      connection with the preparation and filing of each registration statement under
      this Agreement, the Company will give the Holders on whose behalf such
      Registrable Securities are to be registered and their underwriters, if any,
      and
      their respective counsel and accountants, the opportunity to review such
      registration statement, each prospectus included therein or filed with the
      Commission, and each amendment thereof or supplement thereto, and will give
      each
      such Holder such access to the Company's books and records and such
      opportunities to discuss the business of the Company with its officers, its
      counsel and the independent public accountants who have certified the Company's
      financial statements, as shall be necessary, in the opinion of such Holders
      or
      such underwriters or their respective counsel, in order to conduct a reasonable
      and diligent investigation within the meaning of the Securities
      Act.

     

    7.    Indemnification.

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    7.1    Indemnification
      by the Company.
      The
      Company will indemnify each Holder, each of its officers, employees, agents,
      directors and partners (including partners of partners and shareholders of
      such
      partners), and each person controlling (within the meaning of the Securities
      Act) such Holder, with respect to which registration, qualification or
      compliance has been effected pursuant to this Agreement, and each underwriter,
      if any, and each Person who controls any underwriter, against all claims,
      losses, damages and liabilities (or actions, proceedings or settlements in
      respect thereof) arising out of or based on any untrue statement (or alleged
      untrue statement) of a material fact contained in any prospectus, offering
      circular or other document (including any related registration statement,
      notification or the like) incident to any such registration, qualification
      or
      compliance, or based on any 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 any violation by the Company of the Securities Act
      or
      any rule or regulation thereunder applicable to the Company and relating to
      action or inaction required of the Company in connection with any such
      registration, qualification or compliance, and will reimburse each such Holder,
      each of its officers, employees, agents, directors and partners (including
      partners of partners and shareholders of such partners), and each person
      controlling (within the meaning of the Securities Act) such Holder, each such
      underwriter and each Person who controls any such underwriter, for any legal
      and
      any other expenses reasonably incurred in connection with investigating and
      defending or settling any such claim, loss, damage, liability or action as
      the
      same are incurred, provided that
      the
      Company will not be liable in any such case to the extent that any such claim,
      loss, damage, liability or expense arises out of or is based on any untrue
      statement or omission made in reliance upon and based upon written information
      furnished to the Company by such Holder or underwriter and stated to be
      specifically for use therein.

     

    7.2    Indemnification
      by the Holders.
      Each
      Holder will, if Registrable Securities held by him are included in the
      securities as to which such registration, qualification or compliance is being
      effected, indemnify the Company, each of its directors and officers and each
      underwriter, if any, of the Company's securities covered by such a registration
      statement, each person who controls the Company (other than such Holder) or
      such
      underwriter within the meaning of the Securities Act and the rules and
      regulations thereunder, each other such Holder and each of their officers,
      directors and partners, and each Person controlling such Holder or other
      stockholder, against all claims, losses, damages, expenses and liabilities
      (or
      actions in respect thereof) arising out of or based on any untrue statement
      (or
      alleged untrue statement) of a material fact contained, on the effective date
      thereof, in any such registration statement, prospectus, offering circular
      or
      other document, or any omission (or alleged omission) to state therein a
      material fact required to be stated therein or necessary to make the statements
      therein not misleading, and will reimburse the Company, each of its directors
      and officers, each underwriter or control Person, each other Holder and each
      of
      their officers, directors and partners and each Person controlling such Holder
      or other stockholder for any legal or any other expenses reasonably incurred
      in
      connection with investigating or defending any such claim, loss, damage,
      liability or action, in each case to the extent, but only to the extent, that
      such untrue statement (or alleged untrue statement) or omission (or alleged
      omission) is made in such registration statement, prospectus, offering circular
      or other document in reliance upon and in conformity with written information
      furnished to the Company by such Holder and stated to be specifically for use
      therein; provided,
      however,
      that in
      no event shall the liability of any Holder for indemnification under this
      Section 8 in its capacity as a seller of Registrable Securities exceed the
      amount equal to the proceeds to such Holder of the securities sold in any such
      registration; and provided further,
      however, that no selling Holder shall be required to indemnify any Person
      against any liability arising from any untrue or misleading statement or
      omission contained in any preliminary prospectus if such deficiency is corrected
      in the final prospectus or for any liability which arises out of the failure
      of
      any Person to deliver a prospectus as required by the Securities
      Act.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    7.3    Notices
      of Claims, Procedures, etc.
      Each
      party entitled to indemnification under this Section 8 (the “Indemnified
      Party”)
      shall
      give notice to the party required to provide indemnification (the “Indemnifying
      Party”)
      promptly after such Indemnified Party has actual knowledge of any claim as
      to
      which indemnity may be sought, and shall permit the Indemnifying Party to assume
      the defense of any such claim or any litigation resulting therefrom,
provided that
      counsel
      for the Indemnifying Party, who shall conduct the defense of such claim or
      any
      litigation resulting therefrom, shall be approved by the Indemnified Party
      (whose approval shall not be unreasonably withheld), and the Indemnified Party
      may participate in such defense at the Indemnified Party's sole expense, and
      provided further that the failure of any Indemnified Party to give notice as
      provided herein shall not relieve the Indemnifying Party of its obligations
      under this Section 8 unless such failure is prejudicial to the ability of
      Indemnifying Party to defend such claim or action. Notwithstanding the
      foregoing, such Indemnified Party shall have the right to employ its own counsel
      in any such litigation, proceeding or other action if (i) the employment of
      such
      counsel has been authorized by the Indemnifying Party, in its sole and absolute
      discretion, or (ii) the named parties in any such claims (including any
      impleaded parties) include any such Indemnified Party and the Indemnified Party
      and the Indemnifying Party shall have been advised in writing (in suitable
      detail) by counsel to the Indemnified Party either (A) that there may be one
      or
      more legal defenses available to such Indemnified Party which are different
      from
      or additional to those available to the Indemnifying Party, or (B) that there
      is
      a conflict of interest by virtue of the Indemnified Party and the Indemnifying
      Parties having common counsel, in any of which events, the legal fees and
      expenses of a single counsel for all Indemnified Parties with respect to each
      such claim, defense thereof, or counterclaims thereto shall be borne by
      Indemnifying Party. No Indemnifying Party, in the defense of any such claim
      or
      litigation, shall, except with the consent of each Indemnified Party, consent
      to
      entry of any judgment or enter into any settlement which does not include as
      an
      unconditional term thereof the giving by the claimant or plaintiff to such
      Indemnified Party of a release from all liability in respect to such claim
      or
      litigation. Each Indemnified Party shall cooperate to the extent reasonably
      required and furnish such information regarding itself or the claim in question
      as an Indemnifying Party may reasonably request in writing and as shall be
      reasonably required in connection with defense of such claim and litigation
      resulting therefrom.

     

    8.    Information
      by Holder.
      Each
      Holder of Registrable Securities shall furnish to the Company such information
      regarding such Holder and the distribution proposed by such Holder as the
      Company may reasonably request in writing and as shall be reasonably required
      in
      connection with any registration, qualification or compliance referred to in
      this Agreement.

     

    9.    Transfer
      or Assignment of Registration Rights.
      The
      rights to cause the Company to register securities granted by the Company under
      this Agreement may be transferred or assigned by a Holder to a transferee or
      assignee of any Registrable Securities; provided that the Company is given
      written notice at or prior to the time of said transfer or assignment, stating
      the name and address of said transferee or assignee and identifying the
      securities with respect to which such registration rights are being transferred
      or assigned; and provided further that the transferee or assignee of such rights
      assumes in writing the obligations of a Holder under this Agreement to the
      Company and other Holders in effect at the time of transfer under all effective
      agreements. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (a)    The
      Company acknowledges that on the date hereof, the First Registrable Securities
      have been transferred by Marlin Capital Partners II to the
      following:

     

    Michael
      and Betsey Brauser TBE

    Charles
      Eissa

    Scott
      Frohman

    Mark
      Baldinger

     

    (b)    The
      Company acknowledges and agrees that such transferees have succeeded to all
      of
      the rights of the Company as to the First Registrable Securities.

     

    10.    Exchange
      Act Compliance.
      So long
      as the Company remains subject to the reporting requirements of the Exchange
      Act, the Company shall file the reports required to be filed by it under the
      Securities Act and the Exchange Act and the rules and regulations adopted by
      the
      Commission thereunder, and will take all actions reasonably necessary to enable
      holders of Registrable Securities to sell such securities without registration
      under the Securities Act within the limitation of the provisions of (a) Rule
      144
      under the Securities Act, as such Rule may be amended from time to time, (b)
      Rule 144A under the Securities Act, as such Rule may be amended from time to
      time, if applicable, or (c) any similar rules or regulations hereunder adopted
      by the Commission. Upon the request of any Holder of Registrable Securities,
      the
      Company will deliver to such Holder a written statement as to whether it has
      complied with such requirements. 

     

    11.    No
      Conflict of Rights.
      Except
      as otherwise provided in this Section 12, without the consent of holders of
      51%
      of the Registrable Securities (including for this purpose additional Registrable
      Securities referenced in Section 2.2(b)), the Company will not hereafter enter
      into any agreement with respect to its securities which is inconsistent with
      the
      rights granted to the Holders in this Agreement. Without limiting the generality
      of the foregoing, the Company will not hereafter enter into or modify any
      agreement with respect to its securities which grants, or modifies any existing
      agreement with respect to its securities to grant, to a holder of its securities
      in connection with an incidental registration of such securities equal or higher
      priority to the rights granted to the Holders under Sections 2, 3 and 4 of
      this
      Agreement. Notwithstanding anything to the contrary contained herein, the
      Company may, without the consent of the Holders, enter into agreements with
      the
      holders (beneficial or of record) of its Common Stock issued in connection
      with
      (a) its proposed acquisitions of the outstanding shares of each of World
      Narrowcasting Corporation, a South Carolina corporation, and IMPART, Inc.,
      a
      Washington Corporation, (b) any financing obtained by the Company in connection
      with such proposed acquisitions or (c) the financing obtained by the Company
      in
      connection with its acquisition of the Assets (as defined in the Purchase
      Agreement), so long as the rights related to the Company’s securities granted
      therein to such holders are pari passu with the rights of the Holders granted
      in
      this Agreement. The Company hereby represents and warrants to each Holder that
      the execution, delivery or performance of this Agreement does not (including
      with the passage of time) (i) constitute a breach or an event of default under
      any other agreement between the Company and any Other Stockholder, or (ii)
      cause
      or trigger a right of termination or right of acceleration under any such
      agreement. 

     

    12.    Benefits
      of Agreement; Successors and Assigns.
      This
      Agreement shall be binding upon and inure to the benefit of the parties and
      their respective successors and permitted assigns, legal representatives and
      heirs. Except as provided in Section 9 above, this Agreement does not create,
      and shall not be construed as creating, any rights enforceable by any other
      Person. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    13.    Complete
      Agreement.
      This
      Agreement constitutes the complete understanding among the parties with respect
      to its subject matter and supersedes all existing agreements and understandings,
      whether oral or written, among them. No alteration or modification of any
      provisions of this Agreement shall be valid unless made in writing and signed,
      on the one hand, by the Holders of a majority of the Registrable Securities
      then
      outstanding and, on the other, by the Company.

     

    14.    Section
      Headings.
      The
      section headings contained in this Agreement are for reference purposes only
      and
      shall not affect in any way the meaning or interpretation of this
      Agreement.

     

    15.    Notices.
      All
      notices, offers, acceptances and other communications required or permitted
      to
      be given or to otherwise be made to any party to this Agreement shall be deemed
      to be sufficient if contained in a written instrument delivered by hand, first
      class mail (registered or certified, return receipt requested), telecopier
      or
      overnight air courier guaranteeing next day delivery, if to the Company, at
      1300
      North Northlake Way, Seattle, Washington 98103, Attention: Joseph F. Martinez,
      with a copy to Pryor Cashman Sherman & Flynn LLP, 410 Park Avenue, New York,
      New York 10022, Attention: Eric M. Hellige, Esq., and if to any Holder, to
      Marlin Capital Partners II, LLC, 2900 Gateway Drive, Pompano Beach, Florida
      33069 or at such other address as may have been furnished the Company in
      writing.

     

    All
      such
      notices and communications shall be deemed to have been duly given: at the
      time
      delivered by hand, if personally delivered; five business days after being
      deposited in the mail, postage prepaid, if mailed; when receipt acknowledged,
      if
      telecopied; and the next business day after timely delivery to the courier,
      if
      sent by overnight air courier guaranteeing next day delivery. Any party may
      change the address to which each such notice or communication shall be sent
      by
      giving written notice to the other parties of such new address in the manner
      provided herein for giving notice.

    

    16.    Governing
      Law.
      This
      Agreement shall be governed by, and construed and enforced in accordance with,
      the laws of the State of New York without giving effect to the provisions,
      policies or principles thereof respecting conflict or choice of
      laws.

     

    17.    Counterparts.
      This
      Agreement may be executed in one or more counterparts each of which shall be
      deemed an original but all of which taken together shall constitute one and
      the
      same agreement.

     

    18.    Severability.
      Any
      provision of this Agreement which is determined to be illegal, prohibited or
      unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
      to the extent of such illegality, prohibition or unenforceability without
      invalidating the remaining provisions hereof which shall be severable and
      enforceable according to their terms and any such prohibition or
      unenforceability in any jurisdiction shall not invalidate or render
      unenforceable such provision in any other jurisdiction.

    

     

    [remainder
      of page left intentionally blank] 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties have signed this Registration Rights Agreement
      as
      of the date first set forth above.

    

    
      	 	
              IMPART
                MEDIA GROUP, INC.

            	 
	 	 	 
	 	 	 
	 	
              By:   
                

            	
              /s/Joseph
                F. Martinez

            	 
	 	 	
              Name:  Joseph
                F. Martinez 

            	 
	 	 	
              Title:   Chairman
                of the Board and

            	 
	 	 	
              Chief
                Financial Officer

            	 
	 	 	 	 
	 	
              MARLIN
                CAPITAL PARTNERS II, LLC D/B/A INTRANSIT MEDIA

            	 
	 	 	 	 
	 	 	 	 
	 	
              By:   
                

            	
              /s/Michael
                Brauser

            	 
	 	 	
              Name:  Michael
                Brauser

            	 
	 	 	
              Title:    ManagerExhibit 10.19

    
      

    

     

    
      	
              [*]
                designates
                portions of this document that have been omitted pursuant to a
                request

              for
                confidential treatment filed seperately with the
                Commission

            

    

    ASSIGNMENT
      OF INTERESTS

    
      Exhibit
        10.19

       

    

    This
      Assignment of Interests (“Assignment”)
      is
      entered into by and between NutraCea, a California corporation with principal
      offices at 1261 Hawk’s Flight Court, El Dorado Hills, CA 95762 (“NutraCea”),
      NutraGlo Incorporated, a Nevada corporation with principal address at
      _________________ (“NutraGlo”),
      NaturalGlo Specialty Products, LLC, a Delaware limited liability company with
      principal address at 2711 Centerville Road, Suite 400, Wilmington, DE 19808
      (“LLC”)
      and
      W.F. Young, Inc., a Massachusetts corporation with principal address at 302
      Benton Drive, East Longmeadow, MA 01028-5990 (“W.F.
      Young”).
      The
      parties agree as of April 12, 2005 (“Effective
      Date”)
      as
      follows:

    

    

    1.     Background
      and Purpose.
      Pursuant to a “Distribution
      Agreement”
entered
      into on May 1, 2001 by and between NutraCea, W.F. Young and Wolcott Farms,
      Inc.(“Wolcott”)
      and
      subsequently modified pursuant to the Technology Agreement, as defined below,
      W.F. Young obtained exclusive worldwide marketing rights to Flex+ and Flx+
      products for the equine markets on such terms as defined in the Distribution
      Agreement (“Equine
      Flex+”).
      W.F.
      Young formed the LLC with the intent that it later would be jointly owned by
      W.F. Young and Wolcott. However, a limited liability company agreement between
      W.F. Young and Wolcott was neither entered nor adopted for the LLC. W.F. Young’s
      capital contribution to the LLC is in the amount of [*].
      W.F.
      Young wishes to transfer to NutraGlo all rights obtained by W.F. Young pursuant
      to Sections 3.1 and 3.2 of the Technology Agreement entered into by and between
      NutraCea, W.F. Young and Wolcott dated September 18, 2003 (“Technology
      Agreement”).
      To
      the fullest extent permissible by law, the LLC wishes to transfer to NutraGlo
      its right, title and interest to certain patent/technology rights that (i)
      are
      currently held by the LLC, and/or (ii) may be obtained by the LLC pursuant
      to
      the Technology Agreement upon the occurrence of a specified merger transaction
      and upon the patent issuance. 

    

    2.     Transfer
      of Technology Agreement Rights.
      To the
      fullest extent permitted by applicable law, W.F. Young hereby transfers to
      NutraCea all rights, powers and authority granted to or obtained by W.F. Young
      pursuant to Sections 3.1 and 3.2 of the Technology Agreement. 

    

    
      	
              3.

            	
              Transfer
                of Technology Rights Held by LLC; Indemnification.
                

            

    

    

    3.1     Transfer
      of Technology.
      To the
      fullest extent permissible, the LLC shall transfer to NutraGlo all of its right,
      title and interest in any and all rights, including without limitation, future
      or contingent rights to technology specified in the Technology Agreement
      obtained or that may be obtained by the LLC pursuant to Sections 2.3, 3.1 and
      3.2 and any other provision of the Technology Agreement (“Technology”).
      

    

    
      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

    

    
       

      
        	
                [*]
                  designates
                  portions of this document that have been omitted pursuant to a
                  request

                for
                  confidential treatment filed seperately with the
                  Commission

              

      

       

    

    3.2     Failure
      to Transfer Technology; Indemnification.
      In the
      event that the LLC is unable to complete the transfer of the Technology, W.F.
      Young agrees to use its best efforts to resolve the matter as soon as reasonably
      practical and will not take any actions inconsistent with the requests or wishes
      of NutraGlo with respect to such Technology. In reliance on the representations
      and warranties by W.F. Young contained herein, NutraGlo agrees to indemnify
      and
      hold W.F. Young and its respective officers, directors, employees, affiliates,
      shareholders and agents, and each of their respective heirs, personal
      representatives, successors and assigns ("Indemnified
      Parties"),
      harmless from, against and in respect of any and all losses, costs, expenses
      (including without limitation, reasonable attorneys' fees and disbursements
      of
      counsel), liabilities, damages (excluding incidental, consequential or punitive
      damages), fines, penalties, charges, assessments, judgments, settlements,
      claims, causes of action and other obligations of any nature whatsoever
      (individually, a "Loss"
      and
      collectively, "Losses")
      that
      any of them may at any time, directly or indirectly, suffer, sustain, incur
      or
      become subject to, to the extent arising out of, based upon or resulting from
      or
      on account of W.F. Young’s compliance with Section 3.1. Notwithstanding the
      foregoing, any Loss or aggregate Losses to be indemnified shall not exceed
      [*]
      (“Maximum
      NutraGlo Indemnity”).
      In
      the event that the Maximum NutraGlo Indemnity is exceeded, NutraGlo and W.F.
      Young shall equally share all costs that exceed the Maximum NutraGlo Indemnity
      and NutraGlo and W.F. Young shall each be entitled to exercise joint and equal
      control over the defense, settlement and expenditure of costs for any such
      matter for which indemnity under this section is required. In the event the
      parties are unable to agree on how to proceed in any claim or proceeding, the
      dispute shall be settled by arbitration conducted by one (1) arbitrator pursuant
      to the rules of the American Arbitration Association. 

     

    3.3     Decline
      to Exercise Option.
      Without
      in any manner limiting any other provision herein, W.F. Young agrees not to
      exercise the options set forth in Sections 3.1 and/or 3.2 of the Technology
      Agreement with respect to the Technology and, to the fullest extent permissible
      by law, waives any rights to exercise such options. 

    

    
      	
              4.

            	
              Payments.
                

            

    

    

      4.1     Payments
        to W.F. Young.
        In
        consideration for the transfer of rights set forth in Section 2, NutraCea
        shall
        issue to W.F. Young and W.F. Young shall receive the number of shares of
        NutraCea restricted common stock determined by [*],
        or One Million Two Hundred Twenty Two Thousand Two Hundred Twenty Two
        (1,222,222) shares (“W.F.
        Young Consideration Shares”).
        NutraCea shall deliver the W.F. Young Consideration Shares to W.F. Young
        within
        fourteen (14) days of the Effective Date. 

    

      4.2     Payment
        to LLC.
        In
        consideration for the transfer of rights set forth in Section 3, NutraGlo
        shall
        cause NutraCea to issue to the LLC and the LLC shall receive the number of
        shares of NutraCea restricted common stock determined by [*]
        or One
        Hundred Sixty Six Thousand Six Hundred Sixty Seven (166,667) shares
        (“LLC
        Consideration Shares”).
        NutraCea shall deliver the LLC Consideration Shares to the LLC within fourteen
        (14) business days of the Effective Date. 

    

    
      	
              5.

            	
              Representations
                and Warranties.
                

            

    

    

    5.1     Representations
      and Warranties of W.F. Young.
      W.F.
      Young represents and warrants to NutraCea as follows:

    

    (a)     Organization
      and Standing.
      It is a
      corporation duly organized, validly existing and in good standing under the
      laws
      of the Commonwealth of Massachusetts;

    

    (b)     Power
      and Authority.
      It has
      the power and authority to execute, deliver and perform this Assignment and
      any
      agreement executed in connection herewith;

    

    
      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

    

    

    (c)     Binding
      Agreement.
      This
      Assignment has been duly executed and delivered by W.F. Young and is the legal,
      valid and binding obligation of W.F. Young, enforceable against W.F. Young
      in
      accordance with its terms, except as enforcement may be limited by bankruptcy,
      insolvency, moratorium, reorganization, or other similar laws relating to or
      affecting the enforcement of creditor’s rights generally, and except of the
      availability of specific performance, injunctive relief or other equitable
      remedies as subject to the discretion of the court before which any such
      proceeding therefore may be brought; and

    

    (d)     LLC.
      Win
      Wolcott, Wolcott Farms and NaturalGlo Specialty Products, a Delaware limited
      liability company have relinquished any and all right, title and interest,
      including any ownership interest, which they might have, or have had, as a
      member of the LLC, and any claims related thereto. 

    

    5.2     Representations
      and Warranties of NutraCea.
      NutraCea represents and warrants to W.F. Young as follows:

    

    (a)     Organization
      and Standing.
      NutraCea is a corporation duly organized, validly existing and in good standing
      under the laws of the State of California. It has the power and authority to
      own
      and lease the properties now owned or leased by it and to conduct its
      business;

    

    (b)     Power
      and Authority.
      It has
      the power and authority to execute, deliver and perform this Assignment and
      any
      agreement executed in connection herewith; and 

    

    (c)     Binding
      Agreement.
      This
      Assignment has been duly executed and delivered by NutraCea and is the legal,
      valid and binding obligation of it and enforceable against it in accordance
      with
      its terms, except as enforcement may be limited by bankruptcy, insolvency,
      moratorium, reorganization or other similar laws relating to or affecting the
      enforcement of creditor’s rights generally and except of the availability of
      specific performance, injunctive relived or other equitable remedies as subject
      to the discretion of the court before which any such proceeding therefore may
      be
      brought. 

    

    
      	
              6.

            	
              Miscellaneous
                Provisions.

            

    

    

    6.1     Governing
      Law.
      This
      Assignment shall be governed by the laws of the State of New York,
      notwithstanding its conflict of law principles. The parties agree that any
      dispute hereunder shall be settled by arbitration in New York, New York,
      pursuant to the rules of the American Arbitration Association. Any arbitration
      ruling issued pursuant to this section may be enforced in any court of competent
      jurisdiction.

    

    6.2     Entire
      Agreement.
      This
      Assignment, along with any and all documents expressly referred to and
      incorporated herein constitutes the entire agreement between the parties
      regarding the assignment of the rights from W.F. Young and the LLC to NutraCea
      and NutraGlo as set forth herein, all oral agreements regarding such assignment
      being merged herein, and supersedes all prior representations made by any of
      the
      parties hereto with regard to such assignment. There are no representations,
      agreements, arrangements, or understandings, oral or written, between or among
      the parties relating to the subject matter of this Assignment that are not
      fully
      expressed in this Assignment or the other agreements referenced herein.

    

    
      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

    

    

    6.3     Modification.
      The
      provisions of this Assignment may not be modified at any time unless agreed
      to
      in writing by all parties.

    

    6.4     Waiver.
      Any of
      the terms or conditions of this Assignment may be waived at any time by the
      party entitled to the benefit thereof, but no such waiver shall affect or impair
      the right of the waiving party to require observance, performance or
      satisfaction either of that term or condition as it applies on a subsequent
      occasion or of any other term or condition.

    

    6.5     Assignment.
      This
      Assignment shall not be assigned by any party without the prior written consent
      of the other parties. Any assignment contrary to the provisions of this
      Assignment shall be deemed a default under this Assignment, allowing the
      nondefaulting parties to exercise all remedies available under law.

    

    6.6     Successors.
      Subject
      to the provisions otherwise contained in this Assignment, this Assignment shall
      inure to the benefit of and be binding on the successors and assigns of the
      respective parties.

    

    6.7    No
      Third Party Beneficiaries.
      Nothing
      in this Assignment, whether express or implied, is intended to confer any rights
      or remedies under or by reason of this Assignment on any persons other than
      the
      parties to it and their respective successors and assigns, nor is anything
      in
      this Assignment intended to relieve or discharge the obligation or liability
      of
      any third persons to any party to this Assignment, nor shall any provision
      give
      any third persons any right of subrogation or action against any party to this
      Assignment.

    

    6.8     Notices.
      Any
      notice under this Assignment shall be in writing, and any written notice or
      other document shall be deemed to have been duly given (a) on the date of
      personal service on the other party, (b) on the third business day after
      mailing, if the document is mailed by registered or certified mail, or
      (c) one day after being sent by professional or overnight courier or
      messenger service guaranteeing one-day delivery, with receipt confirmed by
      the
      courier. Any such notice shall be delivered or addressed to the other party
      at
      the addresses set forth above or at the most recent address specified by the
      addressee through written notice under this provision. Failure to give notice
      in
      accordance with any of the foregoing methods shall not defeat the effectiveness
      of notice actually received by the addressee.

    

    6.9     Attorneys’
      Fees.
      If the
      services of an attorney are required by any party to secure the performance
      of
      this Assignment or otherwise upon the breach or default of one or more parties
      to this Assignment, or if any judicial remedy or arbitration is necessary to
      enforce or interpret any provision of this Assignment or the rights and duties
      of any person in relation thereto, the prevailing party shall be entitled to
      reasonable attorneys' fees, costs and other expenses, in addition to any other
      relief to which such party may be entitled.

    

    
      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

    

    

    6.10     Counterparts.
      This
      Assignment may be executed in any number of counterparts with the same effect
      as
      if the parties had all signed the same document. All counterparts shall be
      construed together and shall constitute one agreement.

    

    6.11     Captions.
      All
      paragraph captions are for reference only and shall not be considered in
      construing this Assignment.

    

    6.12     Severability.
      If any
      provision of this Assignment is held by a court of competent jurisdiction to
      be
      invalid or unenforceable, the remainder of the Assignment which can be given
      effect without the invalid provision shall continue in full force and effect
      and
      shall in no way be impaired or invalidated.

    

     

     

    [SIGNATURE
      PAGE TO FOLLOW]

     

    
      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF, the parties have executed this Assignment as of the Effective
      Date.

     

     

    
      	
              NUTRACEA

            	 	
              W.F.
                YOUNG, INC.

            	 
	
              a
                California corporation

            	 	
              a
                Massachusetts corporation

            	 
	 	 	 	 
	 	 	 	 
	
              /s/
                Bradley D. Edson

            	 	
              /s/
                Adam D. Raczkowski

            	 
	
              By:
                Bradley D. Edson

            	 	
              By:
                Adam D. Raczkowski

            	 
	
              Title:
                President

            	 	
              Title:
                Executive VP and COO

            	 
	 	 	 	 
	 	 	 	 
	
              NUTRAGLO
                INCORPORATED

            	 	
              NATURALGLO
                SPECIALTY PRODUCTS

            	 
	
              a
                Nevada corporation

            	 	
              a
                Delaware limited liability company

            	 
	 	 	 	 
	 	 	 	 
	
              /s/
                Bradley D. Edson

            	 	
              /s/
                Adam D. Raczkowski

            	 
	
              By:
                Bradley D. Edson

            	 	
              By:
                Adam D. Raczkowski

            	 
	
              Title:
                Authorized Agent

            	 	
              Title:
                Authorized Agent/Treasurer

            	 

    

    

 

    

    

    [SIGNATURE
      PAGE TO ASSIGNMENT OF INTEREST]

    6

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